2022 Mid-Year Meeting

MID-YEAR MEETING NOVEMBER 7, 2022

CEO’ S & P RESIDENT' S R EMARKS

Overview Cape Cod 5 Mission Financial and Strategic Update External Environment Conclusion

Mid-Year Meeting

2

CEO' S & P RESIDENT' S R EMARKS

Overview Cape Cod 5 Mission Financial and Strategic Update External Environment Conclusion

Mid-Year Meeting

3

ENRICHING LIVES

Mission

Values

Strategic Goals

Ways of Engagement

Strategic Priorities

Fairness | Mutual Respect | Highest Ethical Standards | Trustworthiness Cross-Cutting Goals Financial Strength

Community Banking

Digital Ecosystem

Trusted Advisor

Responsible Business Practices

Customer Acquisition & Relationship Management

Corporate Leadership & Volunteerism

Employee Development & Talent Acquisition

Employees

Community

Advancement of Financial Know-How

Community Engagement

Diversity, Equity & Inclusion Philanthropy

Enterprise Risk Management

Environmental Stewardship

Mid-Year Meeting

4

CEO’ S & P RESIDENT' S R EMARKS

Overview Cape Cod 5 Mission Financial and Strategic Update External Environment Conclusion

Mid-Year Meeting

5

KEY FINANCIAL METRICS $50 $ in Millions

$40 $30

1.5%

1.18% 0.76%

0.81%

0.85%

0.74%

$20

1.0% 0.5%

$10 $0

0.8% 0.6% 0.4% 0.2% 0.0%

Sep-18

Sep-19 Net Income

Sep-20 Sep-21 Sep-22 Return on Average Assets

0.0%

Non-Performing Asset Ratio 0.47%

0.47%

0.39%

Total Assets

$10,000 $ in Millions

Net Income and Return on Average Assets

$8,000 $6,000 $4,000 $2,000 $0

Dec-18A Dec-19A Dec-20A Dec-21A Sep-22A On-Balance Sheet

12% 10%

Off Balance Sheet

Tier 1 Leverage Ratio 9.63%

9.74%

10.03%

10.09%

10.05%

8%

0.30%

6%

0.21%

4% 2% 0%

Dec-18A Dec-19A Dec-20A Dec-21A Sep-22A

Dec-18A Dec-19A Dec-20A Dec-21A Sep-22A

Retail Banking

• Elimination of overdraft fees for personal and business customers

• Renovations to East Harwich and Yarmouth Banking Centers

• Introduction of BankOn deposit account

• Expansion within Plymouth with 2 new Banking Centers

• Deposits totaled $4.3 billion as of end of Q3 2022 • #1 deposit market share, with nearly 25% of area FDIC insured deposits

Mid-Year Meeting

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Residential and Consumer Lending

• Expanded product offerings to include 40-year fixed rate mortgage as an option to make homeownership attainable • Added sewer connection loan program

• Upgraded digital capabilities, implementing a best-in-class digital mortgage application solution • Improved customer experience and reduced the time from application to close

• Residential and consumer volume totaled $1.2 billion for the first 9 months of 2022.

• Exceeded same period in 2021 by 5% despite a reduction in total market lending activity Mid-Year Meeting

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Commercial Lending

• Supported customers • Commercial Portfolio at $868 • Implementing a new digital through Paycheck Protection million as of September 30 small business lending Program forgiveness process platform • Over 99% of PPP loans originated by Cape Cod 5 have received full forgiveness

• Forgiveness of PPP loans • This platform will improve the contributed to a 7% decrease efficiency with which small in commercial portfolio from businesses can access bank prior year end financing

Mid-Year Meeting

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Wealth Management Services

• Engaging customers in navigation of equity and bond market volatility

• New business acquisition is on pace to exceed $100 million for the third year in a row

• Wealth Management Services assets $1.67 billion as of 9/30/2022

Mid-Year Meeting

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Employees

• Cape Cod 5 as an employer of choice

• Education and development programs to help employees grow

• Seek input and ideas from employees and celebrate Cape Cod 5 achievements

Mid-Year Meeting

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Community

Community Banking

Responsible Business Practices

Corporate Leadership & Volunteerism

Advancement of Financial Know-How

Philanthropy

Mid-Year Meeting

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CEO’ S & P RESIDENT' S R EMARKS

Overview Cape Cod 5 Mission Financial and Strategic Update External Environment Conclusion

Mid-Year Meeting

13

WHERE WE ARE TODAY – ECONOMIC GROWTH 40%

US GDP

30% 20% 10% 0% -10% -20% -30% -40%

Source: St. Louis Fred

2 Quarters of Negative Growth i.e. Technical Recession

WHERE WE ARE TODAY – INFLATION 10.0%

2023 Forecast 4.0%

9.0% 8.0%

8.2%

7.0% 6.0% 5.0% 4.0% 3.0% 2.0% 1.3% 1.0% 0.0% Dec-20

Mar-21

Source: St. Louis Fred

Jun-21

Sep-21

Dec-21

Mar-22

Jun-22

Sep-22

WHERE WE ARE TODAY – INTEREST RATES 2 Year Treasury

5.00%

10 Year Treasury 4.43%

4.50% 4.00% 3.50%

4.13%

3.00% 2.50% 2.00% 1.63% 1.50% 1.00% 0.50%

0.77%

0.00%

Source: St. Louis Fred

YTD Change 2 Year – 3.66% 10 Year – 2.50%

January 2022: 2 Year @ 0.77% 10 Year @ 1.63% April 2022 2 Year @ 2.46% 10 Year @ 2.38% July 2022 2 Year @ 2.83% 10 Year @ 2.88% October 2022 2 Year @ 4.43% 10 Year @ 4.13%

WHERE WE ARE TODAY – EQUITY MARKET 5%

Percentage Change in S&P 500 and DJIA

0% -5%

-10.6%

-10% -19.3%

-15% -20%

Bear-Market Territory

-25% -30% Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22 Jul-22 Aug-22 Sep-22 Oct-22 S&P 500 DJIA Source: St. Louis Fred

WHERE WE ARE TODAY – LABOR MARKET Unemployed Individuals vs. Job Openings

Ratio of Openings to Unemployed 1.86 Mar-20 Apr-20 May-20 Jun-20 Jul-20 Aug-20 Sep-20 Oct-20 Nov-20 Dec-20 Jan-21 Feb-21 Mar-21 Apr-21 May-21 Jun-21 Jul-21 Aug-21 Sep-21 Oct-21 Nov-21 Dec-21 Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22 Jul-22 Aug-22 Sep-22

25,000 20,000 15,000 10,000 5,000 (5,000) (10,000) (15,000) (20,000) (25,000)

Unemployed Source: Bureau of Labor Statistics

Openings

Unemployed Minus Openings

HOW WE GOT HERE – POLICY ACTIONS THROUGH COVID FISCAL POLICY Cost of COVID-19 Relief

MONETARY POLICY

Cost $ in Billions

Support for Small Businesses

$968

Economic Stimulus Payments

$867

Expanded Unemployment

$764

Public Health Spending

$657

Tax Incentives

$566

Direct to Governments

$512

Educational Support

$282

Other

$719

Total Spending

$5.3 Trillion

Support Fed Funds Rate Reduced to 0% Elimination of Required Reserve for Banks Quantitative Easing – Purchasing of Bonds Creation of Various Emergency Lending Facilities Direct Lending to Banks Direct Lending to Major Corporations Direct Lending to Non-Profits Direct Lending to State and Municipal Governments

WHERE WE ARE GOING – ECONOMIC GROWTH 8.0% 7.0% 6.0% 5.0% 4.0% 3.0% 2.0% 1.0% 0.0% -1.0% -2.0% -3.0%

US GDP Actual

Forecast

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2021 2021 2021 2021 2022 2022 2022 2022 2023 2023

Source: Oxford Economics

WHERE WE ARE GOING – INTEREST RATES % Change in Fed Funds Rates

6.0%

Projected Cycle

5.0% 4.0%

Current Cycle

2004 1987

1994 1983

3.0%

2015

1999

2.0% 1.0% 0.0%

0

2

4

1983 Source: Federal Reserve

6

8 1987

10 12 14 16 18 20 22 24 26 28 30 32 34 36 Months Since First Rate Increase 1994

1999

2004

2015

Current

WHERE WE ARE GOING – MORTGAGE RATES Average Rate on a 30 Year Fixed Rate Mortgage

Source: Freddie Mac Mortgage Survey

-15% Jan-12 Apr-12 Jul-12 Oct-12 Jan-13 Apr-13 Jul-13 Oct-13 Jan-14 Apr-14 Jul-14 Oct-14 Jan-15 Apr-15 Jul-15 Oct-15 Jan-16 Apr-16 Jul-16 Oct-16 Jan-17 Apr-17 Jul-17 Oct-17 Jan-18 Apr-18 Jul-18 Oct-18 Jan-19 Apr-19 Jul-19 Oct-19 Jan-20 Apr-20 Jul-20 Oct-20 Jan-21 Apr-21 Jul-21 Oct-21 Jan-22 Apr-22 Jul-22

WHERE WE ARE GOING – HOME VALUES Annualized Month over Month Change S&P Case Schiller Index

30%

25%

20%

15%

10% Fastest deceleration since 1987

5%

0%

-5%

-10%

Source: St. Louis Fred

CORPORATOR FEEDBACK – REGIONAL TRENDS REAL ESTATE • Real estate robust but market is adjusting.

• The housing situation is beyond the breaking point and I fear our communities lack the political will and capacity to address this crisis.

• I continue to see the housing market out of reach for those who are the foundation of our community and are so vital to sustaining our local economy and the our quality of life.

• We need to focus on affordable housing and resources that will help attract more year-round residents.

LABOR • Number of vacancies in fire, police and health services is scary.

• Staffing for restaurants and hospitality businesses will continue to be a challenge.

• Lack of affordable housing has brought staff shortages in many businesses.

• Labor market squeeze.

• Trends are highly dependent on staffing.

Staffing seems to be an ongoing issue.

BUSINESS ENVIRONMENT • Strong metrics.

• Increases in payroll and utility costs may cause issues in Fall/Winter.

• Strained. We remain in a unique insulated region to some extent, but I sense a softer economy going forward.

• Things seem rather strong, despite some uncertainty. The upper levels of the population continue to thrive.

• Seems more stabilized, with COVID more under control tourism was busy this summer.

Mid-Year Meeting

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MACRO TO LOCAL What do the macro-economic environment trends mean to our region?

Labor

Wage Growth

Home Affordability / Availability

Demographics

Business Environment

Cost of Living Mid-Year Meeting

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KEY EXTERNAL FORCES

Economy

Interest Rates

Climate Change

Disintermediation Cyber

Labor

Housing

Disintermediation Cyber

Mid-Year Meeting

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CEO’ S & P RESIDENT' S R EMARKS

Overview Cape Cod 5 Mission Financial and Strategic Update External Environment Conclusion

Mid-Year Meeting

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MID-YEAR MEETING NOVEMBER 7, 2022