Veritex : Fourth Quarter 2020 Earnings Presentation

Veritex Holdings, Inc.

4th Quarter Earnings

Conference Call

January 27, 2020

Safe Harbor Statement

Forward-looking statements

This presentation contains certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on various facts and derived utilizing assumptions, current expectations, estimates and projections and are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Forward- looking statements include, without limitation, statements relating to the expected payment date of Veritex Holdings, Inc.'s ("Veritex") quarterly cash dividend, impact of certain changes in Veritex's accounting policies, standards and interpretations, the effects of the COVID-19 pandemic and actions taken in response thereto, Veritex's future financial performance, business and growth strategy, projected plans and objectives, as well as other projections based on macroeconomic and industry trends, which are inherently unreliable due to the multiple factors that impact broader economic and industry trends, and any such variations may be material. Statements preceded by, followed by or that otherwise include the words "believes," "expects," "anticipates," "intends," "projects," "estimates," "plans" and similar expressions or future or conditional verbs such as "will," "should," "would," "may" and "could" are generally forward-looking in nature and not historical facts, although not all forward-looking statements include the foregoing words. We refer you to the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of Veritex's Annual Report on Form 10-K for the year ended December 31, 2019 and any updates to those risk factors set forth in Veritex's Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and other filings with the Securities and Exchange Commission ("SEC"), which are available on the SEC's website at www.sec.gov. If one or more events related to these or other risks or uncertainties materialize, or if Veritex's underlying assumptions prove to be incorrect, actual results may differ materially from what Veritex anticipates. Accordingly, you should not place undue reliance on any such forward-looking statements. Any forward-looking statement speaks only as of the date on which it is made. Veritex does not undertake any obligation, and specifically declines any obligation, to update or revise any forward-looking statements, whether as a result of new information, future developments or otherwise, except as required by law. All forward-looking statements, expressed or implied, included in this presentation are expressly qualified in their entirety by this cautionary statement. This cautionary statement should also be considered in connection with any subsequent written or oral forward-looking statements that Veritex or persons acting on Veritex's behalf may issue.

This presentation also includes industry and trade association data, forecasts and information that Veritex has prepared based, in part, upon data, forecasts and information obtained from independent trade associations, industry publications and surveys, government agencies and other information publicly available to Veritex, which information may be specific to particular markets or geographic locations. Some data is also based on Veritex's good faith estimates, which are derived from management's knowledge of the industry and independent sources. Industry publications, surveys and forecasts generally state that the information contained therein has been obtained from sources believed to be reliable. Although Veritex believes these sources are reliable, Veritex has not independently verified the information contained therein. While Veritex is not aware of any misstatements regarding the industry data presented in this presentation, Veritex's estimates involve risks and uncertainties and are subject to change based on various factors. Similarly, Veritex believes that its internal research is reliable, even though such research has not been verified by independent sources.

2

Non-GAAP Financial Measures

Veritex reports its results in accordance with United States generally accepted accounting principles ("GAAP"). However, management believes that certain supplemental non-GAAP financial measures used in managing its business provide meaningful information to investors about underlying trends in its business. Management uses these non-GAAP measures to assess the Company's operating performance and believes that these non-GAAP measures provide information that is important to investors and that is useful in understanding Veritex's results of operations. However, non-GAAP financial measures are supplemental and should be viewed in addition to, and not as an alternative for, Veritex's reported results prepared in accordance with GAAP. The following are the non-GAAP measures used in this presentation:

• Tangible book value per common share;
• Tangible common equity to tangible assets;
• Return on average tangible common equity;
• Operating earnings;
• Pre-tax,pre-provision ("PTPP") operating earnings;
• Diluted operating earnings per share ("EPS");
• Operating return on average assets;
• PTPP operating return on average assets;
• Operating return on average tangible common equity;
• Operating efficiency ratio;
• Operating noninterest income;
• Operating noninterest expense;
• Adjusted net interest margin ("NIM").

Please see "Reconciliation of Non-GAAP Financial Measures" at the end of this presentation for reconciliations of non-GAAP measures to the most directly comparable financial measures calculated in accordance with GAAP.

3

Fourth Quarter/Full Year Overview

• Net income of $22.8 million, or $0.46 diluted earnings per share ("EPS") for 4Q20. Net income of $73.9 million, or $1.48 diluted EPS for YTD 2020

Strong

Earnings

Loan and

Deposit

Growth

Capital

• Operating net income1 of $29.7 million, or $0.60 diluted operating EPS1 for
  4Q20. Operating net income1 of $77.9 million, or $1.56 diluted operating EPS1 for YTD 2020
• Operating ROATCE1, 2 increased to 16.44% in 4Q20 compared to 13.27% in 3Q20
• Total loans, excluding Paycheck Protection Program ("PPP") loans, increased $91.3 million, or 5.8% linked quarter annualized ("LQA")
• Total deposits grew $290.3 million, or 18.7% LQA
• Total demand deposits grew $176.4 million, or 36.7% LQA
• Average cost of total deposits decreased to 0.38% for 4Q20 from 0.46% for 3Q20
• Tangible book value per common share increased to $15.70 from $15.19 at September 30, 2020
• Declared quarterly dividend of $0.17 in 1Q21, consistent with each quarter in 2020
• Repurchased 347,428 shares during 4Q20 at an average price of $22.90. Since inception in 1Q19, the Company has repurchased 11.1% of outstanding common stock through its stock buyback program

1 Please refer to the "Reconciliation of Non-GAAP Financial Measures" at the end of this presentation for a description and reconciliation of these non-GAAP financial measures.
2 Return on average tangible common equity ("ROATCE")	4