Byline Bancorp : Fourth Quarter 2022 Earnings Conference Call Presentation

January 26, 2022

Byline Bancorp, Inc.

4Q22 Earnings Presentation

Forward-Looking Statements

Forward-Looking Statements

This communication contains forward-looking statements within the meaning of the U.S. federal securities laws. Forward-looking statements include, without limitation, statements concerning plans, estimates, calculations, forecasts and projections with respect to the anticipated future performance of the Company. These statements are often, but not always, made through the use of words or phrases such as ''may'', ''might'', ''should'', ''could'', ''predict'', ''potential'', ''believe'', ''expect'', ''continue'', ''will'', ''anticipate'', ''seek'', ''estimate'', ''intend'', ''plan'', ''projection'', ''would'', ''annualized'', "target" and ''outlook'', or the negative version of those words or other comparable words or phrases of a future or forward-looking nature. Forward- looking statements involve estimates and known and unknown risks, and reflect various assumptions and involve elements of subjective judgement and analysis, which may or may not prove to be correct, and which are subject to uncertainties and contingencies outside the control of Byline and its respective affiliates, directors, employees and other representatives, which could cause actual results to differ materially from those presented in this communication.

No representations, warranties or guarantees are or will be made by Byline as to the reliability, accuracy or completeness of any forward-looking statements contained in this communication or that such forward-looking statements are or will remain based on reasonable assumptions. You should not place undue reliance on any forward-looking statements contained in this communication.

Certain risks and important factors that could affect Byline's future results are identified in our Annual Report on Form 10-K and other reports we file with the Securities and Exchange Commission, including among other things under the heading "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2021. Any forward-looking statement speaks only as of the date on which it is made, and Byline undertakes no obligation to update any forward-looking statement, whether to reflect events or circumstances after the date on which the statement is made, to reflect new information or the occurrence of unanticipated events, or otherwise unless required under the federal securities laws. Due to rounding, numbers presented throughout this document may not add up precisely to the totals provided and percentages may not precisely reflect the absolute figures.

Current Expected Credit Loss ("CECL") Adoption

In June 2016, the Financial Accounting Standards Board ("FASB") issued ASU 2016-13 Financial Instruments - Credit Losses (Topic 326) on the recognition of credit losses, otherwise known as the current expected credit loss standard, or "CECL", which replaces the incurred loss impairment methodology with a methodology that reflects current expected credit losses. As an emerging growth company, we elected to delay the adoption of the standard in accordance with ASU No. 2019-10, Effective Dates, which delayed the effective date of the ASU for entities not classified as Public Business Entities. The Company's EGC status expired during 2022, requiring CECL adoption be reflected in our December 31, 2022 financial statements and Form 10-K.

The Company adopted CECL on December 31, 2022, and has applied it retroactively to the period beginning January 1, 2022 using the modified retrospective method of accounting. Adoption of CECL includes both a $10.1 million retroactive equity adjustment to January 1, 2022 (Day 1) and a $1.7 million fourth quarter adjustment to earnings (net of tax) to account for the difference in provision for credit losses between CECL and the incurred loss methodology for the first three quarters of 2022. Results for reporting periods beginning after September 30, 2022 are presented under the new standard, while prior quarters previously reported are "Recast" as if the new standard had been applied since January 1, 2022. Refer to Appendix A in the Fourth Quarter 2022 Earnings Release for recast prior quarter financial information as a result of the adoption of the new standard. Ongoing impacts of the CECL methodology will be dependent upon changes in economic conditions and forecasts, originated and acquired loan portfolio composition, credit performance trends, portfolio duration, and other factors.

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Full Year 2022 Summary

Performance Highlights

• Reported net income of $88.0 million, or EPS of $2.34, on revenue of $322.6 million
• Solid PTPP ROA of 1.97%, ROA of 1.25%, ROTCE of 15.15%
• Delivered full year diversified loan growth of 19%, funded by high quality deposit base which grew 10% YoY
• Maintained strong capital ratios with CET1 at 10.20% and TCE/TA(1) at 8.42%
• Credit quality remained stable with NCOs of 0.23%, down 14 bps Y/Y
• Exited emerging growth company status and adopted the Current Expected Credit Loss ("CECL") accounting standard

	Revenue		EPS		Efficiency ratio
	$322.6 million		$2.34		54.99%
	4% Y/Y		3% Y/Y		Improved 228 bps Y/Y
	Total Assets		Total Loans and Leases		Total Deposits
	$7.4 billion		$5.4 billion		$5.7 billion
	10% Y/Y		19% Y/Y		10% Y/Y
(1) Represents a non-GAAP financial measure. See "Non-GAAP Reconciliation" in the appendix.				3

Fourth Quarter 2022 Highlights

	Net Income & EPS		PTPP
	$24.4 million		$37.6 million
	$0.65 per diluted share		2.05% PTPP ROA

ROAA & ROTCE(1)

1.33% ROAA

17.21% ROTCE

Profitability

• Grew Pre-TaxPre-Provision Net Income 8.4% QoQ to $37.6 million, driven by higher net interest income
• Solid broad-based total loan growth of 12.0% annualized
• Net interest margin (FTE)(1) expanded 36 bps to 4.40%
• Earning assets yields increased 70 bps to 5.39% driven by:
• • Loan yields expanding 79 bps
  • Deposit costs increased 30 bps

Credit Quality

• Credit quality remained stable with:
• • NPA/Assets of 0.55%, down 9 bps QoQ
  • NPLs (ex. gov gtd) decreased 14 bps to 0.62% in 4Q22
• NCOs of 0.23%, up 9 bps QoQ
• ACL as percent of loans and leases of 1.51%, flat QoQ

Capital

• CET1 and Total Capital ratios remained solid at 10.20% and 13.00%
• • TCE/TA(1): 8.42%
• Returned $30.8 million capital to common stockholders through dividends and share repurchases in 2022
• Repurchased 689,068 shares of common stock during 2022 at a cost of $17.3 million
• Authorization of a new 1.25 million share repurchase program

1. Represents a non-GAAP financial measure. See "Non-GAAP Reconciliation" in the appendix.

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Pre-TaxPre-Provision Net Income ($ in millions)

As we are investing in people and technology with the goal of improving growth and efficiency…

Quarterly Pre-TaxPre-Provision Net Income and ROAA(1)

2.05%	2.05%
1.87%	1.93%

	$37.6
$33.9	$34.6
$32.4

1.28% $21.7

Q4 2021	Q1 2022		Q2 2022	Q3 2022	Q4 2022
			PTPP NI			PTPP ROAA

1. Represents a non-GAAP financial measure. See "Non-GAAP Reconciliation" in the appendix.

…our strategy is producing record PTPP; driving sustained profitability and delivering positive operating leverage

Annual Pre-TaxPre-Provision Net Income and ROAA(1)

	1.86%	1.97%
	1.88%
1.75%	1.75%	$138.6

1.62%	$125.2

$107.6

$98.0

$74.2

$53.4

FY2017	FY2018	FY2019	FY2020	FY2021	FY2022
			PTPP NI		PTPP ROAA

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