2023 Annual Report

ART A BUSINESS EDUCATION FOREVER NGS INVESTMENTS HOME IMPROVEMENTS BACK LONG-TERM SHORT-TERM LEGACY HOME START A BUSINESS EDUCATION CY FUND SAVINGS INVESTMENTS HOME AINY DAY GIVE BACK LONG-TERM SHORTREMENT FIRST HOME START A BUSINESS MERGENCY FUND SAVINGS INVESTMENTS LIST RAINY DAY GIVE BACK LONG-TERM GE RETIREMENT FIRST HOME START A BUILD AN EMERGENCY FUND SAVINGS MILY BUCKET LIST RAINY DAY GIVE BACK DING COLLEGE RETIREMENT FIRST HOME ER HOME BUILD AN EMERGENCY FUND EMENTS FAMILY BUCKET LIST RAINY DAY ACY BUILDING COLLEGE RETIREMENT FIRST FOREVER HOME BUILD AN EMERGENCY PROVEMENTS FAMILY BUCKET LIST RAINY 202 3 A N N UA L R E P O R T LEGACY BUILDING COLLEGE RETIREMENT YO U R PA R T N E R UCATION FOREVER HOME THR O U G H BUILD IT A LL AN TS HOME IMPROVEMENTS FAMILY BUCKET

COLLEGE RETIREMENT FIRST HOME START A BU EMERGENCY FUND SAVINGS INVESTMENTS HOME GIVE BACK LONG-TERM SHORT-TERM LEGACY BUI A BUSINESS EDUCATION FOREVER HOME BUILD HOME IMPROVEMENTS FAMILY BUCKET LIST RAINY BUILDING FIRST HOME STAR 202 3COLLEGE AT A GLRETIREMENT ANCE AN EMERGENCY FUND SAVINGS INVESTMENTS HO DAY GIVE BACK LONG-TERM SHORT-TERM LEGAC START A BUSINESS EDUCATION FOREVER HOME BU 169 566 24 YEARS SERVING HOME IMPROVEMENTS FAMILY BUCKET LIST RAINY EMPLOYEES LOCATIONS OUR COMMUNITIES BUILDING COLLEGE RETIREMENT FIRST HOME STAR AN EMERGENCY FUND SAVINGS INVESTMENTS HO #1 LONG-TERM SHORT-TERM #1 DAY GIVE BACK LEGAC DEPOSIT MARKET SHARE PURCHASE MORTGAGE MARKET IN BARNSTABLE COUNTY SHARE INFOREVER ALL TOWNS SERVEDHOME BU START A BUSINESS EDUCATION HOME IMPROVEMENTS FAMILY BUCKET LIST RAINY BUILDING COLLEGE$2.0 RETIREMENT FIRST HOME STAR Billion $1.8 Million $5.5 Billion WEALTH ASSETS COMMUNITY AN EMERGENCY FUND SAVINGS INVESTMENTS H ASSETS SERVED GIVING DAY GIVE BACK LONG-TERM SHORT-TERM LEGAC START A BUSINESS EDUCATION FOREVER HOME BU HOME IMPROVEMENTS FAMILY BUCKET LIST RAINY BUILDING COLLEGE RETIREMENT FIRST HOME STAR AN EMERGENCY FUND SAVINGS INVESTMENTS HO DAY GIVE BACK LONG-TERM SHORT-TERM LEGAC START A BUSINESS EDUCATION FOREVER HOME BU HOME IMPROVEMENTS FAMILY BUCKET LIST RAINY BUILDING COLLEGE RETIREMENT FIRST HOME STAR AN EMERGENCY FUND SAVINGS INVESTMENTS HO 2

USINESS EDUCATION FOREVER HOME BUILD AN E IMPROVEMENTS FAMILY BUCKET LIST RAINY DAY ILDING COLLEGE RETIREMENT FIRST HOME START OUR MISSION D AN EMERGENCY FUND SAVINGS INVESTMENTS ENRICHING LIVES. Y DAY GIVE BACK LONG-TERM SHORT-TERM LEGACY Our mission is simply stated, RT A BUSINESS EDUCATION FOREVER HOME BUILD but there’s so much meaning it. We work each day OME IMPROVEMENTS FAMILYbehind BUCKET LIST RAINY to enrich the lives of those CY BUILDING COLLEGE RETIREMENT we serve – fromFIRST supporting HOME the financial INVESTMENTS health of our UILD AN EMERGENCY FUND SAVINGS customers to helping to DAY GIVE BACK LONG-TERM sustain SHORT-TERM the vibrancy and LEGACY vitality of our communities RT A BUSINESS EDUCATION FOREVER HOME BUILD to creating meaningful OME IMPROVEMENTS FAMILYopportunities BUCKET LIST RAINY for our employees.

CY BUILDING COLLEGE RETIREMENT FIRST HOME UILD AN EMERGENCY FUND SAVINGS INVESTMENTS OUR VALUES Y DAY GIVE BACK LONG-TERM SHORT-TERM LEGACY As we carry out our mission, RT A BUSINESS EDUCATION FOREVER HOME BUILD Cape Cod 5’s values are in every aspect of HOME IMPROVEMENTS FAMILY ingrained BUCKET LIST RAINY our business and guide us in CY BUILDING COLLEGE RETIREMENT HOME each interactionFIRST we have with our customers, employees UILD AN EMERGENCY FUND SAVINGS INVESTMENTS and communities.

Y DAY GIVE BACK LONG-TERM SHORT-TERM LEGACY • Integrity RT A BUSINESS EDUCATION FOREVER HOME BUILD • Respect Collaboration OME IMPROVEMENTS FAMILY • BUCKET LIST RAINY • Inclusivity CY BUILDING COLLEGE RETIREMENT FIRST HOME • Care UILD AN EMERGENCY FUND SAVINGS INVESTMENTS DAY GIVE BACK LONG-TERM SHORT-TERM LEGACY RT A BUSINESS EDUCATION FOREVER HOME BUILD OME IMPROVEMENTS FAMILY BUCKET LIST RAINY 3

HOME IMPROVEMENTS FAMILY BUCKET LIST RAINY BUILDING COLLEGE RETIREMENT FIRST HOME STAR THE CEO AN EMERGENCY FUND MESSAGE SAVINGSFROM INVESTMENTS H MATTHEW S. BURKE DAY GIVE BACK LONG-TERM CHAIRMAN SHORT-TERM & CEO, CAPE COD 5 LEGAC START A BUSINESS EDUCATION FOREVER HOME BU HOME IMPROVEMENTS FAMILY BUCKET LIST RAINY BUILDING COLLEGE RETIREMENT FIRST HOME STAR points above the national average. This AN EMERGENCY FUND SAVINGS INVESTMENTS HO affirmed for us that, during a time when individuals and businesses were uncertain DAY GIVE BACK LONG-TERM LEGAC about theSHORT-TERM banking industry, they felt For many of us in the banking industry, confident turning to Cape Cod 5, and we have START2023Apresented BUSINESS EDUCATION FOREVER HOME BU some of the most difficult been pleased to offer our clients with the challenges ever faced, with the steepest added peace of mind of having options for interest rate hike in history by the Federal FAMILY HOME IMPROVEMENTS RAINY 100% FDICBUCKET insurance, the gold LIST standard for Reserve, a banking crisis impacting deposit coverage. Steve Johannessen, Chief overleveraged regional banks, and inflationary BUILDING COLLEGE RETIREMENT HOME Financial Officer, FIRST has helped lead our efforts STAR pressure negatively affecting every individual, throughout the year, and provides additional family and business in our community.

At details about our INVESTMENTS financial strength with a full AN EMERGENCY FUND SAVINGS HO Cape Cod 5, we navigated these challenges review of the numbers later in the report. in the same way that we have since our DAY inception GIVEin 1855: BACK LONG-TERM SHORT-TERM LEGAC by focusing on fortifying our already strong balance sheet, evolving to continue meeting the financial needs of our clients, supporting the vitality and strength of the communities we serve, empowering the growth and development of our team members, and remaining anticipatory and adaptive to an ever-changing environment around us.

In a year when many of our peer banks struggled, Cape Cod 5’s financial strength ensured our ability to carry out our mission for the benefit of our clients, communities and employees. With all colleagues working together as One Bank, we generated $26.2 million in net income, providing for a return on average assets of 0.48%, and just as it always has, every penny of those earnings remains in our capital, allowing Cape Cod 5 to continue to grow and further the positive impact on our clients and communities. We experienced the 6th highest deposit growth in Massachusetts, which was 4.6 percentage

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2023 also brought opportunities for us to ensure that Cape Cod 5 will carry out our mission of enriching lives across the communities we serve for many years to come. In September, we announced a strategic partnership with Fidelity Bank, a community bank headquartered in Leominster, MA. With this partnership, Fidelity Bank will become our sister bank under our existing parent company, Mutual Bancorp. This growth and partnership will allow us to share common back-office operational resources while maintaining our unique brand identities and tailored products and services, while expanding our offerings in each of our respective communities.

As a community bank committed to mutuality and always guided by our mission and values, we continued to expand to effectively meet our clients wherever they were: both digitally through upgrades to our online and mobile tools, and in person through new or redesigned and improved

Y DAY GIVE BACK LONG-TERM SHORT-TERM LEGACY RT A BUSINESS EDUCATION FOREVER HOME BUILD HOME IMPROVEMENTS FAMILY BUCKET LIST RAINY CY BUILDING COLLEGE RETIREMENT FIRST HOME locations. We’ve enhanced the ways that we assist businesses and consumers along UILD AN EMERGENCY FUND SAVINGS INVESTMENTS their financial journeys with products, tools know-how. We put in place additional Y DAYand GIVE BACKtoLONG-TERM SHORT-TERM LEGACY foundational infrastructure protect the Bank and our clients, always keeping RT A BUSINESS EDUCATION FOREVER HOME BUILD cybersecurity and data protection top of mind. In addition, we provided continuous OME guidance IMPROVEMENTS FAMILY BUCKET LIST RAINY and awareness around scams and fraud targeting those in our region and CY BUILDING COLLEGE RETIREMENT FIRST HOME across the nation.

We consider it a privilege to be an active UILD AN EMERGENCY FUND SAVINGS INVESTMENTS and responsible corporate citizen, working with many partners across our region DAYclosely GIVE BACK LONG-TERM SHORT-TERM LEGACY to help build economic, environmental and social strength for our neighbors and RT A BUSINESS EDUCATION FOREVER HOME BUILD community members. As part of this, we been actively involved in helping to find OMEhave IMPROVEMENTS FAMILY BUCKET LIST RAINY solutions for some of the largest issues on the Cape, Islands and in Southeastern MA: the RETIREMENT FIRST HOME CY BUILDING COLLEGE housing crisis, wastewater and transportation infrastructure, climate change and coastal resiliency. In addition to lending our voice and advocating for change, offering products and services that can help offset these challenges, and encouraging our team members’ active community involvement, in 2023, Cape Cod 5 gave back over $1.8 million through the Bank and our Foundation to community organizations providing critical services and making a positive local impact.

Cape Cod 5 has been proud to be recognized as a top employer with a leading workplace culture nationally and locally for the past six years. As a management team, our priority is to support our colleagues with best-inclass benefits that recognize their many life obligations, training and educational programs to meaningfully grow in their careers, and opportunities for personal and community leadership development so they can make a fulfilling impact on those around them. In 2023, we introduced

our Relationship Banker Trainee program, which is designed for high school graduates who are exploring career options, while also enabling their continued education – among many other industry-leading programs and benefits offered to our employees.

You’ll see highlights of our 2023 accomplishments throughout the pages of this annual report. Our team worked together diligently to achieve them all, and I want to commend my colleagues for their passion and dedication. They are what makes the difference at Cape Cod 5.

Thank you to our clients and communities for turning to Cape Cod 5 as your partner through it all. As always, we are here to help and if we can be of assistance, please reach out.

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COLLEGE RETIREMENT FIRST HOME START A BU YOUR PARTNER ALONG INVESTMENTS EVERY STEP OF EMERGENCY FUND SAVINGS HOME GIVE YOUR BACK FINANCIAL LONG-TERMJOURNEY SHORT-TERM LEGACY BUI The team at Cape Cod 5 is proud to partner with individuals and families to help A BUSINESS EDUCATION FOREVER achieve their personal financial goals. From developing new habits HOME to support yourBUILD financial wellness to building your savings, and from financing a first or forever home HOME IMPROVEMENTS FAMILY BUCKET LIST RAINY to planning your legacy, we have the expertise, tools and resources to empower you.

Whether you choose to work with us in person, over the phone, or virtually through STAR BUILDING COLLEGE RETIREMENT FIRST HOME our many digital banking tools, you’ll receive the encouragement and care that you can expect from our true community approach. Wherever you are on your AN EMERGENCY FUND banking SAVINGS INVESTMENTS HO unique financial journey, Cape Cod 5 is here to help.

DAY GIVE BACK LONG-TERM SHORT-TERM LEGAC “Our Investment Services Officer has START A BUSINESS EDUCATION FOREVER HOME BU provided excellent financial advice for us since 2018. He has guided us HOME IMPROVEMENTS FAMILY BUCKET LIST RAINY every step of the way to ensure our investments are diversified and well BUILDING COLLEGE RETIREMENT FIRST HOME STAR positioned for maximum growth, while keeping our risks tolerances low and AN EMERGENCY FUND SAVINGS INVESTMENTS HO realistic. Their investment knowledge, prompt responses to questions and DAY GIVE BACK LONG-TERM SHORT-TERM LEGAC concerns, and advice have been invaluable to us.”

START A BUSINESS EDUCATION FOREVER HOME BU ROBERT AND LINDA CLINGER HOME IMPROVEMENTS FAMILY BUCKET LIST RAINY CAPE COD 5 CLIENTS BUILDING COLLEGE RETIREMENT FIRST HOME STAR 6th 20th AN EMERGENCY FUND #1 SAVINGS INVESTMENTS H Highest Deposit Mortgage Year DAY GIVE BACK LONG-TERM SHORT-TERM LEGAC Growth in MA Market Share Entered our 20th year serving Wealth Management Deposit growth outpaced Maintained #1 mortgage START A BUSINESS EDUCATION FOREVER HOME BU clients, with $2.0 billion in the national average in 2023 market share within the assets managed Bank’s footprint HOME IMPROVEMENTS FAMILY BUCKET LIST RAINY BUILDING COLLEGE RETIREMENT FIRST HOME STAR DIGITAL UPGRADES Provided additional convenience through access to AN EMERGENCY FUND SAVINGS INVESTMENTS HO all Cape Cod 5 wealth management accounts within and mobile banking and improved our client DAY online GIVE BACK SHORT-TERM LEGAC onboarding experience to helpLONG-TERM clients get the most out of their accounts.

START A BUSINESS EDUCATION FOREVER HOME BU HOME IMPROVEMENTS FAMILY BUCKET LIST RAINY BUILDING COLLEGE RETIREMENT FIRST HOME STAR 6

USINESS EDUCATION FOREVER HOME BUILD AN CONTINUED TO ENHANCE E IMPROVEMENTS FAMILY BUCKET LIST RAINY DAY OUR PHYSICAL FACILITIES We relocated our Pinehills Banking Center START ILDING COLLEGE RETIREMENT FIRST HOME with more space to comfortably serve and community members while D AN EMERGENCY FUND clients SAVINGS INVESTMENTS continuing to update and modernize our existing facilities.

Y DAY GIVE BACK LONG-TERM SHORT-TERM LEGACY RT A BUSINESS EDUCATION FOREVER HOME BUILD OME IMPROVEMENTS FAMILY BUCKET LIST RAINY CY BUILDING COLLEGE RETIREMENT FIRST HOME A TEAM FOR ALL YOUR FINANCIAL NEEDS UILD AN EMERGENCY FUND SAVINGS INVESTMENTS Our Relationship Teams are based in each community that weLONG-TERM serve DAY GIVE BACK SHORT-TERM LEGACY to effectively surround our clients with all of the tools, advice, products RT A BUSINESS EDUCATION FOREVER HOME BUILD and services to meet their financial objectives.

OME IMPROVEMENTS FAMILY BUCKET LIST RAINY CY BUILDING COLLEGE RETIREMENT FIRST HOME UILD AN EMERGENCY FUND SAVINGS INVESTMENTS Y DAY GIVE BACK LONG-TERM SHORT-TERM LEGACY RT A BUSINESS EDUCATION FOREVER HOME BUILD “Cape Cod 5 has been a proud member HOME IMPROVEMENTS FAMILY BUCKET LIST RAINY of our community since 1855, and we are committed to being a trusted partner to CY BUILDING COLLEGE RETIREMENT FIRST HOME meet the financial needs of all individuals and families, wherever they are on their UILD AN EMERGENCY FUND SAVINGS life journey.

Our team ofINVESTMENTS caring and expert professionals are leaders in their fields.

Y DAY GIVE BACK LONG-TERM SHORT-TERM If we can assist you, reach out to us.” LEGACY RT A BUSINESS EDUCATION FOREVER ROBERT A. TALERMAN HOME BUILD PRESIDENT, CAPE COD 5 OME IMPROVEMENTS FAMILY BUCKET LIST RAINY CY BUILDING COLLEGE RETIREMENT FIRST HOME UILD AN EMERGENCY FUND SAVINGS INVESTMENTS DAY GIVE BACK LONG-TERM SHORT-TERM LEGACY RT A BUSINESS EDUCATION FOREVER HOME BUILD 7

HOME IMPROVEMENTS FAMILY BUILDING COLLEGE RETIREME AN EMERGENCY FUND SAVIN DAY GIVE BACK LONG-TERM START A BUSINESS EDUCATION HOME IMPROVEMENTS FAMILY BUILDING COLLEGE RETIREME AN EMERGENCY FUND SAVIN DAY GIVE BACK LONG-TERM START A BUSINESS EDUCATION HOME IMPROVEMENTS FAMILY BUILDING COLLEGE RETIREME AN EMERGENCY FUND SAVIN DAY GIVE BACK LONG-TERM YOUR PARTNERSTART FOR ALL OF YOUR A BUSINESS EDUCATION BUSINESS NEEDS HOME IMPROVEMENTS FAMILY “Working with Cape Cod 5 has At Cape Cod 5, your business is our business.

BUILDING COLLEGE RETIREME been a wonderful experience.

We work closely with business owners and This was my first time buying operators to find and tailor the right ANsolutions EMERGENCY FUND SAVIN property as a business owner for to help you achieve your goals. Our experienced new company headquarters.

GIVEmy BACK LONG-TERM team of dedicated professionals DAY understands Cape Cod 5 walked me through each aspect of running a business, whether the process, and anytime I had START EDUCATION you are just getting started, ready to expand A BUSINESS a question, I got an immediate response, even off-hours. They or planning for your own succession. In HOME IMPROVEMENTS FAMILY simplified the process, explained addition to offering a full suite of business every step of the way and we banking, treasury management, lending and BUILDING COLLEGE closed within 2 months!RETIREME The wealth management offerings, Cape Cod 5 whole team helped me navigate recently introduced merchant services, AN with EMERGENCY FUND SAVIN the construction process and competitive options to help power your made it a breeze.” business, all backed by the local DAY team that GIVE BACK LONG-TERM you trust. We’re proud to serve as the financial partner for thousands of local businesses, and hope to have the opportunity to assist yours.

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DAWN EGAN PRESIDENT, AMERICAN ELECTRICAL CONSTRUCTION

LY BUCKET LIST RAINY DAY GIVE BACK LONG-TERM ENT FIRST HOME START A BUSINESS EDUCATION FO NGS INVESTMENTS HOME “The IMPROVEMENTS FAMILY Merchant Services team at Cape Cod 5 has provided outstanding support from RETIR SHORT-TERM LEGACY BUILDING COLLEGE beginning to end as we migrated our payment solutions. They gave us a detailed N FOREVER HOME BUILD AN EMERGENCY FUND SA breakdown of cost savings and extreme through our conversion of services.

Y BUCKET LIST RAINY DAY care GIVE BACK LONG-TERM We now have a local team to connect with for questions, while reaping the benefit of ENT FIRST HOME START A BUSINESS EDUCATION FO significant savings to our bottom line!”

NGS INVESTMENTS HOME MICHAEL IMPROVEMENTS FAMILY O’CONNOR OWNER & CEO, AROCAM SPORTS, INC SHORT-TERM LEGACY BUILDING COLLEGE RETIR N FOREVER HOME BUILD AN EMERGENCY FUND SA INTRODUCED LY BUCKET LIST RAINY DAY GIVE BACK LONG-TERM MERCHANT SERVICES ENT FIRST START A BUSINESS EDUCATION FO In 2023, weHOME introduced merchant services to help power small businesses with online and point-of-sale payment NGS INVESTMENTS HOME IMPROVEMENTS FAMILY solutions, backed by a local team they can trust.

SHORT-TERM LEGACY BUILDING COLLEGE RETIR N FOREVER HOME BUILD AN EMERGENCY FUND SA LY BUCKET LIST RAINY DAY GIVE BACK LONG-TERM ENT FIRST HOME START A BUSINESS EDUCATION FO OFFERED ADDED SECURITY AND PEACE OF MIND NGS INVESTMENTS HOME IMPROVEMENTS FAMILY Continued to provide businesses and consumers with options for 100% FDIC SHORT-TERM LEGACY BUILDING COLLEGE RETIR insurance on deposits over $250,000 through our partnership with IntraFi. N FOREVER HOME BUILD AN EMERGENCY FUND SA Y BUCKET LIST RAINY DAY GIVE BACK LONG-TERM ENT FIRST HOME START A BUSINESS EDUCATION FO NGS INVESTMENTS HOME IMPROVEMENTS FAMILY SHORT-TERM LEGACY BUILDING RETIR A PARTNERSHIP TO MAKE COLLEGE RUNNING YOUR BUSINESS EASIER

We’ve partnered with BizChecks Payroll, a preferred local payroll services provider, to offer customers best-in-class payroll solutions.

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OUR EMPLOYEES’ PARTNER FOR A MEANINGFUL, FULFILLING CAREER Cape Cod 5’s team of knowledgeable professionals carries out our mission and serves our customers and communities each day with care and dedication. We have built a culture of curiosity, learning, and inclusivity so that team members are challenged and empowered to bring their best selves to everything that they do. To support their efforts, individuality, and continued growth, Cape Cod 5 offers best-in-class benefits and ample opportunities for education and development. We’re proud to share that the Bank has been recognized nationally and locally as a top workplace for the past six years.

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COLLEGE RETIRE EMERGENCY FUN 2023 EMPLOYEE & WORKPLACE AWARDS & DESIGNATIONS GIVE BACK LONG A BUSINESS EDU HOME IMPROVEM BUILDING COLLEG AN EMERGENCY DAY GIVE BACK START A BUSINES HOME IMPROVEM BUILDING COLLE AN EMERGENCY DAY GIVE BACK Expanded training and leadership development Introduced our first class of Relationship START A BUSINES offerings to empower our colleagues to grow Banker Trainees, a program designed to professionally and personally. provide high school graduates with career HOMEwhileIMPROVEM development opportunities assisting in their continuing education.

BUILDING COLLEG AN EMERGENCY

EMENT FIRST HOME START A BUSINESS EDUCAT ND SAVINGS INVESTMENTS HOME IMPROVEMENTS G-TERM SHORT-TERM LEGACY BUILDING COLLEGE 51FOREVER HOME BUILD AN 93.5 % UCATION EMERGENC Summer Interns Employee Best in class benefits Retention Rate BACK In 2023,FAMILY our cohort of 51 BUCKET We expanded our benefits MENTS LIST RAINY DAY GIVE summer interns received We prioritize culture and offerings to protect important training for their employee well-being, which employees and their families GE RETIREMENT FIRST HOME START A BUSINESS E future while contributing contributes to a low employee with full identity and meaningfully across the Bank. turnover rate and high credit monitoring.

FUND SAVINGS INVESTMENTS HOME IMPROVEM employee satisfaction.

LONG-TERM SHORT-TERM LEGACY BUILDING CO Cod 5 offers so much as an employer SS EDUCATION FOREVER“Cape HOME BUILD ANand EMERGEN – good jobs, opportunities for growth advancement, excellent pay and benefits, MENTS FAMILY BUCKET LIST RAINY GIVE BACK and lots of perks. But byDAY far, I think it is our culture that is welcoming, inclusive, EGE RETIREMENT FIRST HOME START BUSINESS E collaborative and respectful.A It shows in the sense of engagement and loyalty to FUND SAVINGS INVESTMENTS HOME IMPROVEM the organization employees demonstrate as well as in our excellent reputation in the community and among customers.”

LONG-TERM SHORT-TERM LEGACY BUILDING CO CAPE COD 5 EMPLOYEE SS EDUCATION FOREVER HOME BUILD AN EMERGE via anonymous workplace survey MENTS FAMILY BUCKET LIST RAINY DAY GIVE BACK GE RETIREMENT FIRST HOME START A BUSINESS ED - In memory of our dear colleague, Nadine McGhie-Sinclair FUND SAVINGS INVESTMENTS HOME IMPROVEM Summer intern volunteer day of service with Barnstable Land Trust.

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D AN EMERGENCY FUND SAVINGS INVESTMENTS Y GIVE BACK LONG-TERM SHORT-TERM LEGACY A BUSINESS EDUCATION FOREVER HOME BUILD E IMPROVEMENTS FAMILY BUCKET LIST RAINY YOUR PARTNER IN SUPPORTING BUILDING COLLEGE RETIREMENT FIRST HOME HEALTHY, VIBRANT COMMUNITIES D AN EMERGENCY FUND SAVINGS INVESTMENTS Community engagement is an integral part of AY GIVE BACK LONG-TERM SHORT-TERM LEGACY who we are at Cape Cod 5. Working together with our 550+ team members, we’re committed A BUSINESS EDUCATION FOREVER HOME BUILD to partnering with others in our region to help build strong, resilient and vibrant communities E IMPROVEMENTS FAMILY BUCKET LIST RAINY for individuals, families and businesses to thrive.

Our efforts are focused in five areas where we BUILDING COLLEGE RETIREMENT FIRST HOME can make the largest impact based on our strengths and abilities, and we’re sharing SAVINGS a D AN EMERGENCY FUND INVESTMENTS few highlights here.

AY GIVE BACK LONG-TERM SHORT-TERM LEGACY A BUSINESS EDUCATION FOREVER HOME BUILD 5 FOCUS AREAS OF NEED E IMPROVEMENTS FAMILY BUCKET LIST RAINY BUILDING COLLEGE RETIREMENT FIRST HOME Community Health, D AN EMERGENCY FUNDEconomic SAVINGS INVESTMENTS Accessible Human Need and Housing Sustainability Needs Y GIVE BACK LONG-TERM SHORT-TERMVeterans’ LEGACY Education & Environmental Enrichment Stewardship A BUSINESS EDUCATION FOREVER HOME BUILD E IMPROVEMENTS FAMILY BUCKET LIST RAINY BUILDING COLLEGE RETIREMENT FIRST HOME

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$1.8 million COMMUNITY GIVING

$30,000

“Cape Cod 5’s deep commitment to our beloved Cape community makes a difference for so many. On behalf of my colleagues, volunteers and clients I thank you for your support. This gift will assist families who struggle simply to access adequate groceries. It is a privilege to partner with you.”

EDYE NESMITH EXECUTIVE DIRECTOR, LOCAL COMMUNITY NONPROFIT

GIVEN IN EMPLOYEE-VOTED GRANTS

3,869 EMPLOYEE VOLUNTEER HOURS IN 2023

171 COMMUNITY BOARDS & COMMITTEES SERVED

BY EMPLOYEES 13

YOUR PARTNER IN PROGRESS FOR SOCIETY AND THE ENVIRONMENT Always doing what is right is how we operate at Cape Cod 5. We evaluate every action through our lens of Corporate Responsibility & Sustainability, and we aim to be a good corporate citizen with a goal of acting as a model for other businesses and always trying to make the world a better place.

We evaluate our efforts through our ability to positively impact the following areas: our people; environmental sustainability; economic vitality; access and inclusion; and innovative & responsible business practices.

ME START A BUSINESS EDUCATION FOREVER HO STMENTS HOME IMPROVEMENTS FAMILY BUCKET L RM LEGACY BUILDING COLLEGE RETIREMENT FIRS R HOME BUILD AN EMERGENCY FUND SAVINGS CKET LIST RAINY DAY GIVE BACK LONG-TERM SHOR RST HOME START A BUSINESS EDUCATION FOREVE NVESTMENTS HOME IMPROVEMENTS FAMILY BUC RT-TERM LEGACY BUILDING COLLEGE RETIREMEN Completed migration Launched public 100% of employees EVER HOME BUILD AN EMERGENCY FUND to an environmentallytransportation program participated in dataSAVINGS sensitive investment for employees privacy and information portfolio to sustain theDAY GIVE BACK LONG-TERM security training KET LIST RAINY SHOR Foundation RST HOME START A BUSINESS EDUCATION FOREVE NVESTMENTS HOME IMPROVEMENTS FAMILY BUCK RT-TERM LEGACY BUILDING COLLEGE RETIREMEN REVER HOME BUILD AN EMERGENCY FUND SAVING 14

DIVERSITY & INCLUSION STATEMENT

OUR DIFFERENCES MAKE US STRONGER. As part of our mission of enriching lives, Cape Cod 5 recognizes that each financial journey is as unique as the individual making it. Our goal is to help empower everyone along the way. Cape Cod 5 is committed to inclusivity and we celebrate diversity of all kinds — age, race, ethnicity, gender, sexual orientation, religion, veteran status, education, occupation, financial know-how, neurodiversity and physical abilities, lived experiences and backgrounds. We encourage our employees to bring their authentic selves to everything they do and we will continue to work to foster a respectful environment.

We uphold these principles in our relationships with business and community partners, as well. We’re proud to learn from one another, our customers and our community members, and hope that you’ll join us in listening to understand and create a more equitable and inclusive world.

GARAGE AN OME HQ5 BUILD SOLAR PANELS completed implementation LIST WeRAINY DAY of a solar array above the parking garage. Between these panels START and those on the roof of ST HOME our headquarters, we project that 75% of all energy used at HQ5 will be solar.

S INVESTMENTS RT-TERM LEGACY ER HOME BUILD ENVIRONMENTALLY CKET SENSITIVE LIST RAINY BUILDING PRACTICES NT FIRST HOME We utilize green materials and design throughout S INVESTMENTS our building and renovation process while also RT-TERM LEGACY employing renewable energy sources.

ER HOME BUILD KET LIST RAINY NT FIRST HOME GS INVESTMENTS

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MESSAGE FROM THE CFO STEPHEN H. JOHANNESSEN, CFO, CAPE COD 5 An unprecedented shift in the rate environment made 2023 an incredibly challenging year for our industry. Cape Cod 5’s forward-looking approach to risk management positioned the Bank to take very early measures during the interest rate turn, driving sound financial results for the year. During this period of uncertainty, team members from every area across the organization turned their focus to one objective: assisting individuals and businesses in feeling confident in the return on, and security of, their deposits.

Because of these efforts, our deposit base grew by more than $114.0 million, the 6th largest deposit growth total in Massachusetts. Other key results for the Bank and our business lines are highlighted below.

• Achieved net income of $26.2 million, providing for a return on average assets of 0.48%, surpassing our projected budget for the year despite the headwinds presented by the external environment.

• Grew total assets to $5.5 billion, a 5.2% increase from 2022, making Cape Cod 5 the 10th largest mutual bank in the country.

Consolidated Balance Sheets*

TOTAL ASSETS AT DECEMBER 31 (IN THOUSANDS)

At December 31, 2023

2022

(In Thousands) ASSETS Cash and cash equivalents

$119,984

$37,472

Investment securities

483,223

520,650

Residential real estate

3,754,973

3,558,858

Commercial real estate

793,741

775,815

Commercial and industrial

111,400

112,922

Consumer

50,488

50,066

Gross loans

4,710,602

4,497,661

Loans: LOANS AT DECEMBER 31 (IN THOUSANDS)

Allowance for credit losses Net loans

(23,892)

(22,227)

4,686,710

4,475,434

Other assets

254,173

237,083

Total assets

$5,544,090

$5,270,639

LIABILITIES AND RETAINED EARNINGS DEPOSITS AT DECEMBER 31 (IN THOUSANDS)

Deposits

$4,148,575

$4,034,316

Wholesale borrowings

554,092

583,805

Brokered certificates

265,290

125,000

Other liabilities

63,328

41,418

Total liabilities

5,031,285

4,784,539

Retained earnings

512,805

486,100

Total liabilities and retained earnings

$5,544,090

$5,270,639

* The Cape Cod Five Cents Savings Bank unaudited financial statements

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• Maintained strong credit quality with total non-performing assets remaining near record lows at just 0.21% of total assets.

• Strengthened capital, increasing the Bank’s total risk-based capital ratio 0.3% year-over-year to 16.5%, placing Cape Cod 5 in the top quartile amongst all U.S. banks.

• Increased FDIC deposit market share across the Bank’s footprint by 1.1% to 25.8%, giving Cape Cod 5 the #1 market share position by a wide margin.

• Originated the second highest number of residential purchase mortgages in Massachusetts.

• Increased the commercial loan portfolio to more than $900.0 million, with strong growth in the number of businesses served by the Bank.

• Increased Wealth Management Services assets by 9.5% to $2.0 billion.

• Supported the community we serve with total giving between the Bank and its foundation exceeding $1.8 million.

In closing, the continued financial strength of the organization, coupled with the efficiencies and opportunities presented by the partnership with Fidelity Bank under our mutual holding company, ensure that Cape Cod 5 is well-positioned for future growth and stability.

Consolidated Income Statements*

NET INCOME AT DECEMBER 31 (IN THOUSANDS)

Years Ended December 31, 2023

2022

(In Thousands) Interest income

$216,001

$158,695

Interest expense

(93,389)

(12,462)

Net interest income

122,612

146,233

Credit for credit losses

(2,222)

(1,000)

124,834

147,233

Non-interest income

31,525

27,816

Operating expenses

(125,967)

(120,687)

Income before provision for income taxes

30,392

54,362

Provision for income taxes

(4,168)

(13,321)

$26,224

$41,041

Net interest income after credit for credit losses

Net Income

CAPITAL AT DECEMBER 31 (IN THOUSANDS)

Performance Ratios* Years Ended December 31, 2023

2022

Return on average assets

0.48%

0.84%

Net interest margin

2.39%

3.17%

Net charge-offs (recoveries) to average loans

0.00%

0.01%

Efficiency ratio

81.32%

69.71%

Non-interest income to average assets

0.58%

0.57%

Non-interest expense to average assets

2.32%

2.47%

WEALTH MANAGEMENT SERVICES ASSETS AT DECEMBER 31 (IN THOUSANDS)

17

CAPE COD 5 BOARD OF DIRECTORS Matthew S. Burke, Chairman

Paul E. Grover

Tammy A. Saben

Karen L. Gardner, Vice Chair

John J. Judge

Robert A. Talerman

Jane M. Coderre

James A. Peterson

Denise M. Toomey

John C. Dawley

Melissa D. Philbrick

Daniel A. Wolf

Darren J. Donovan

Paul K. Rumul

SENIOR LEADERSHIP TEAM EXECUTIVE MANAGEMENT Matthew S. Burke, Chairman and Chief Executive Officer

Christopher E. Richards, First Executive Vice President, Chief Banking Services Officer

Vanessa L. Greene, Executive Vice President, Chief Risk Officer

Laura E. Newstead, First Executive Vice President, Chief Human Resources Officer

Stephen H. Johannessen, Executive Vice President, Chief Financial Officer

Stephanie M. Dennehy, Executive Vice President, Chief Marketing Officer

Joel J. Brickman (retired, January 2024) Executive Vice President, General Counsel

Emilie L. Bajorek, Senior Vice President of Communications

Michael S. Kiceluk, Senior Vice President, Chief Investment Officer

Christopher W. Raber, Senior Vice President, Chief Real Estate Officer

Paul R. Bernier, Senior Vice President, Chief Auditor

Christopher D. Langlais, Senior Vice President, Upper Cape and Martha’s Vineyard Regional Manager Commercial Loan Officer

Robert E. Reisner, Senior Vice President, Mid-Cape Regional Manager Commercial Loan Officer

Robert A. Talerman, President

James L. Botsford, Senior Vice President, Manager, Senior Financial Advisor Liam Cahill, Senior Vice President, Director of Residential Lending Operations Alison B. Czuchra, Senior Vice President, Chief Fiduciary Officer Kristen M. Foresta, Senior Vice President, Treasurer Kimberly J. Geary, Senior Vice President, Director of Residential Sales & Production Elizabeth S. Hammann, Senior Vice President, Chief Information Security Officer Timothy F. Kelleher, Senior Vice President, Chief Commercial Lending Officer

18

Jason R. Lilly, Senior Vice President, Chief Wealth Management Services Officer Christina L. Mallard, Vice President, Director of RCL Administration Kevin A. Mooney, Senior Vice President, Chief Technology Officer Stephen C. Peck, Senior Vice President, Southeastern Massachusetts Regional Manager Commercial Loan Officer Andrea L. Ponte, Senior Vice President, Chief Operational Services Officer

Melanie J. Sabin, Senior Vice President, Nantucket Regional Manager Commercial Loan Officer Adrian M. Sullivan, Senior Vice President, Chief Digital Officer Scott D. Vandersall, Senior Vice President, Lower Cape Regional Manager Commercial Loan Officer Angelique K. Viamari, Senior Vice President of Governance Eleanor P. Williams, Senior Vice President, General Counsel Taryn M. Wilson, Senior Vice President, Chief Financial Crimes Officer

CORPORATORS OF MUTUAL BANCORP (PARENT COMPANY OF CAPE COD 5) Shawn J. Almeida

Melinda S. Gallant

Melissa D. Philbrick

Barbara Stone Amidon

Karen L. Gardner

Diana C. Pisciotta

Paul B. Bergquist

Margaret A. Geist

Frederic B. Presbrey

Karen L. Bissonnette

Paul E. Grover

Melanie M. Rabeni

Jitka Borowick

Lisa C. Guyon

Kurt E. Raber

Joel J. Brickman

Wendy Harman

Francie Randolph

Patricia M. Bridier

Frank J. Harrison

John C. Ricotta

Matthew S. Burke

G. Howard Hayes

John A. Roberts, III

Lyle B. Butts

Joseph C. Jasie

David T. Robinson

Howard C. Cahoon, Jr.

Christopher J. Joyce

Mark H. Robinson

F. Timothy Carroll

John J. Judge

Paul K. Rumul

Carl F. Cavossa, Jr.

Peter Karlson

Tammy A. Saben

Robert C. Chamberlain

Chester N. Lay

Brett A. Sanidas

Olive M. Chase

Eileen Leary

Dorothy A. Savarese

Jay H. Coburn

James F. Leighton

Judy Walden Scarafile

Jane M. Coderre

Jo-Ann M. LeMoine

Lisa F. Sherman

Lynn Comandich

Geoffrey F. Lenk

Carol W. Sim

Geoghan Coogan

Richard J. Leonard

John P. Simison

Paul Covell

William G. Litchfield

Andrew L. Singer

Robert J. Crane, Jr.

Nancy S. Lowery

Patti Smith

John C. Dawley

J. Bruce MacGregor

Robert C. Smith

Shawn DeLude

Robert A. Maffei

Sidney H. Snow

Benjamin W. deRuyter

George W. Malloy

Lawrence O. Spaulding, Jr.

Penelope Dey

Linda Ann Markham

Robert A. Talerman

David H. Doherty

Christopher J. Megan

Harry S. Terkanian

William A. Doherty, Jr.

Bruce D. Miller

Todd G. Thayer

Darren J. Donovan

Carey M. Murphy

Denise M. Toomey

Stephen L. Doyle

Susan L. Nickerson

James F. Trainor

Lawrence F. Drago

Mark J. Novota

Christopher J. Ward

Michael A. Dunning

David I. Oppenheim

Richard Waystack

Sheila O’Brien Egan

Paulo Vitor P. Paraguay

John L. Whelan

Thomas A. Eldredge

Katherine Fulham Parcels

Seth Wilkinson

Thomas M. Evans

James A. Peterson

Daniel A. Wolf

Diane Falla

Laura Lorusso Peterson

Benjamin E. Zehnder

John P. Farrell

Wayne D. Petty

George Zografos

Steven R. Fedele Corporators as of 3/20/24 19

COLLEGE RETIREMENT FIRST HOME STA HOME BUILD AN EMERGENCY FUND SAVIN FAMILY BUCKET LIST RAINY DAY GIVE B BUILDING COLLEGE RETIREMENT FIRST FOREVER HOME BUILD AN EMERGENC MPROVEMENTS FAMILY BUCKET LIST RA TERM LEGACY BUILDING COLLEGE RETIR EDUCATION FOREVER HOME BUILD AN EM HOME IMPROVEMENTS FAMILY BUCKET SHORT-TERM LEGACY BUILDING COLLEG BUSINESS EDUCATION FOREVER HOME NVESTMENTS HOME IMPROVEMENTS FAM LONG-TERM SHORT-TERM LEGACY BUILD START A BUSINESS EDUCATION FOREVE SAVINGS INVESTMENTS HOME IMPROVE GIVE BACK LONG-TERM SHORT-TERM LEGA HOME START A BUSINESS EDUCATION F CONTACT US FUND SAVINGS INVESTMENTS HOME IMP DAY GIVE BACK LONG-TERM SHORT-TERM FIRST HOME START A BUSINESS EDU EMERGENCY FUND SAVINGS INVESTMENT Banking Centers & ATMs

Trust & Asset Management Offices

Additional ATM Locations

Corporate Headquarters

Customer Service Center: 888-225-4636 customerservice@capecodfive.com

Location details & hours are available at capecodfive.com/locations.

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