Hope Bancorp : D.A. Davidson's 26th Annual Financial Institutions Conference

D.A. Davidson's 26th Annual

Financial Institutions Conference

May 9, 2024

Forward Looking Statements & Additional Disclosures

This presentation contains statements regarding future events or the future financial performance of Hope Bancorp, Inc. ("Company") and its proposed merger with Territorial Bancorp Inc. ("Territorial") that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These

forward-looking statements relate to, among other things, low-cost core deposit base, diversification of the loan portfolio, expansion of market share, percentage earnings per share growth, capital to support growth, and statements about the proposed transaction being immediately accretive. Additionally, the forward-looking statements also relate to, among other things, expectations regarding the business and economic environment in which we operate, projections of future performance and financial outlook, perceived opportunities in the market, and statements regarding our business strategies, objectives and vision and statements regarding our strategic reorganization. Forward-looking statements include, but are not limited to, statements preceded by, followed by or that include the words "will," "believes," "expects," "anticipates," "intends," "plans," "estimates," "targets," or similar expressions. With respect to any such forward-looking statements, the Company and Territorial each claims the protection provided for in the Private Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties. The Company's actual results, performance or achievements may differ significantly from the results, performance or achievements expressed or implied in any forward-looking statements. Upon completion of the merger, the combined company's actual results, performance or achievements may differ significantly from the results, performance or achievements expressed or implied in any forward-looking statements. The closing of the proposed transaction is subject to regulatory approvals, the approval of the shareholders of Territorial, and other customary closing conditions. There is no assurance that such conditions will be met or that the proposed merger will be consummated within the expected time frame, or at all. If the transaction is consummated, factors that may cause actual outcomes to differ from what is expressed or forecasted in these forward-looking statements include, among things: difficulties and delays in integrating the Company and Territorial and achieving anticipated synergies, cost savings and other benefits from the transaction; higher than anticipated transaction costs; deposit attrition, operating costs, customer loss and business disruption following the merger, including difficulties in maintaining relationships with employees and customers, may be greater than expected; and required governmental approvals of the merger may not be obtained on its proposed terms and schedule, or without regulatory constraints that may limit growth. Other risks and uncertainties include, but are not limited to: possible further deterioration in economic conditions in our areas of operation; interest rate risk associated with volatile interest rates and related asset-liability matching risk; liquidity risks; risk of significant non-earning assets, and net credit losses that could occur, particularly in times of weak economic conditions or times of rising interest rates; the failure of or changes to assumptions and estimates underlying the Company's allowances for credit losses, and regulatory risks associated with current and future regulations. For additional information concerning these and other risk factors, see the Company's most recent Annual Report on Form 10-K. The Company does not undertake, and specifically disclaims any obligation, to update any forward-looking statements to reflect the occurrence of events or circumstances after the date of such statements except as required by law.

Additional Information and Where to Find It

In connection with the proposed merger, Hope Bancorp, Inc. will file with the Securities and Exchange Commission ("SEC") a Registration Statement on Form S-4, which will include a Proxy Statement of

Territorial Bancorp Inc., that also constitutes a prospectus of Hope Bancorp, Inc. Territorial Bancorp shareholders are encouraged to read the Registration Statement and the Proxy Statement/Prospectus regarding the merger when it becomes available and any other relevant documents filed with the SEC, as well as any amendments or supplements to those documents, because they will contain important information about the proposed merger. Territorial Bancorp shareholders will be able to obtain a free copy of the Proxy Statement/Prospectus, as well as other filings containing information about Hope Bancorp and Territorial Bancorp at the SEC's Internet site (www.sec.gov). Territorial Bancorp shareholders will also be able to obtain these documents, free of charge, from Territorial Bancorp at https://www.tsbhawaii.bank/tsb/investor-relations/.

2

Bank of Hope's Roots

Announced:

Foster Bank

Aug 2013

Pacific

International Bank

Feb 2013

Innovative Bank		1st Merger of Equals
Apr 2010		Nov 2011

2nd Merger of Equals

Jul 2016

Asiana Bank

Aug 2003

Saehan Bank

Nov 2013

BankAsiana

Oct 2013

Mirae Bank

Jun 2009

Liberty Bank of

New York

May 2006

April 29, 2024

Combination with TBNK fits

well into HOPE's long-term

growth strategy

(Est. 1986 in Los Angeles)

(Est. 1989 in Los Angeles)

(Est. 1980 in Los Angeles)

3

Bank of Hope at a Glance

Hope Bancorp, Inc.

(Holding Company of Bank of Hope as of 3/31/2024)

Total Assets	Loans Receivable	Total Deposits	Market Cap.(1)
$18.1B	$13.7B	$14.8B	$1.3B

The Representative Bank of the Korean American Community

"We are committed to

improving the value of our

services as BANKERS,

providing comprehensive

financial solutions as

EXPERTS, and being good

3rd Largest Asian American bank in the U.S.(1)

35th Largest SBA lender in the country by volume(2)

6th Largest independent bank headquartered in California(1)

Member of KBW Nasdaq

Regional Bank Index (^KRX)

Only U.S.-based regional bank with presence in Korea

Listed on Forbes' list of "Best Banks in America" since 2013

NEIGHBORS that foster growth for our customers

and communities."

Nationwide presence with full-service branch operations in 9 states, strategically located in high-density Asian American communities

Seasoned and experienced management and board of directors

(1)	Source: S&P Capital IQ
(2)	Source: SBA national lender rankings for fiscal year ended September 30, 2023	4

Nationwide Presence Anchored in Asian American Communities

Representative Office

Seoul, South Korea

Hawai'i (2)

Kauai

Territorial Savings

Bank

28 Branches

Washington

4 Branches,

1 SBA LPO, 1 LPO

Oregon

1 SBA LPO

Northern California

1 Branch,

1 SBA LPO, 1 LPO

Southern California

24 Branches,

1 LPO

Illinois

3 Branches

New York/New Jersey

9 Branches,

1 SBA LPO,

2 LPOs

Virginia

2 Branches(1)

			Georgia
			1 Branch,
			1 SBA LPO
			Florida
			2 LPOs
Colorado	Texas	Alabama
1 SBA LPO	3 Branches,	1 Branch
	2 SBA LPOs			LPO: Loan Production Office
	1 LPO
			SBA: Small Business Administration
		Branches	LPOs	Branches and LPOs

Branch map is not presented in scale. Map as of 4/29/24.

1. HOPE entered into branch purchase & assumption agreement for the sale of its two branches in Virginia. Transaction expected to close in 2H24.

(2) HOPE announced definitive merger agreement with Territorial Bancorp Inc. on 4/29/24. Transaction expected to close by YE 2024.	5

Executive Leadership

					Kevin S. Kim
					Chairman, President &
Risk		Operations		Business	Chief Executive Officer,
		Hope Bancorp, Inc.
Management		Oversight		Leadership	and Bank of Hope

Thomas Stenger	Julianna Balicka	Peter Koh	Young K. Lee	Kyu S. Kim	Craig Campbell
Senior EVP, Chief	EVP, Chief	Senior EVP, Chief	EVP, Chief Human	Senior EVP, Chief	EVP, Chief Corporate
Risk Officer	Financial Officer	Operating Officer	Resource Officer	Commercial Banking	& Institutional
Richard Marshall	Angelee Harris	Hung Van	Matt Beers	Officer	Banking Officer
EVP, Chief Credit	EVP, General	EVP, Chief	EVP, Chief Strategy	Brian Hawley	Michael Hayashida
Officer	Counsel	Information Officer	Officer	EVP, Chief Retail	EVP, Chief Product
Andy Chan		Daniel H. Kim		Banking Officer	Officer
EVP, Chief Internal		EVP, Chief		Jason Kim
Audit Executive		Administrative		Senior EVP, Chief
		Officer		Business Banking
				Officer

6

Strategic Reorganization

Realignment Around Lines of Business and Products, to Better Serve Client Base & Run Bank More Efficiently

Four Distinct Business Groups:

RETAIL BANKING

Separated from commercial banking to oversee all retail banking activities, mortgage, branch network

Focus: consumer deposits, residential mortgage, and community investment

COMMERCIAL BANKING

Consolidation under one leader to foster consistency of client experience, standardize processes, and improve efficiency

Focus: Korean subsidiary, traditional commercial, business banking, SBA and CRE

CORPORATE &

INSTITUTIONAL BANKING

Expansion and deepening of total banking relationships and corporate deposit opportunities

Focus: middle-market, corporate & institutional banking, specialized industries

FEE-BASED BUSINESS GROUP

Partner with all Business Groups to drive growth in operating deposit accounts, accelerate fee-based revenue, and expand customer wallet share

Focus: treasury management solutions, FX and interest rate risk management

Actions

• Optimized production capacity
• Reduced workforce
• Branch rationalization
• Wind down of non-core businesses
• Streamlined back-office operations & operational process improvements

Benefits

• Consistency in delivery of excellent client service

▪	Empowered deposit growth engines and enhanced	Sustainably
Improved
	revenue generation
	Profitability &
▪	More efficient allocation of resources and minimized
Growth
	redundancies

• Sustainably expanded profitability

7

Management's Updated Financial Outlook for 4Q24* vs. 4Q23

	4Q23		Prior Outlook as of	Updated Outlook for 4Q24*	Comments
	actual
		1/30/24	vs. 4Q23 actual
	($ Millions)
			Low single-digit %		▪ Reorganized frontline pivoting to growth
Average Loans	$ 14,053		Unchanged	▪ Expecting payoffs to moderate in 2024
	growth	▪ Anticipating loan growth to be weighted toward 2H 2024
					▪ Expecting to maintain avg. gross loan-to-deposit ratio below 95%
		Low single-digit % decline	5-7% decline	▪ Rate assumptions based on current implied forward interest rate curve
		▪	Five Fed Funds rate cuts
Net Interest Income	$ 126	▪ One 25-bps Fed Funds rate cut in	▪ Paid off $1.0B BTFP at end of March & remaining $695MM in early April
	& Fed Funds upper	Sep. 2024 & Fed Funds upper target rate	with interest-earning cash
			target rate of 4.25% by
			of 5.25% by 12/31/24	▪ NII from spread earned on BTFP: $3.6MM in 1Q24 and $4.0MM in 4Q23
			12/31/24
SBA Loan Gain on Sale	$ ̶		Return to SBA sales	Likely to resume SBA loan sale activity	▪ Secondary market premiums improved in April 2024 vs. beginning of year
	when market conditions
	with a small volume in 2Q24	▪ Expect ongoing sales based on market conditions & premiums
	(no sales)		warrant
Noninterest Expense (1)
$ 85		>5% decrease	Unchanged	▪ Benefits from reorganization and process improvements
(excluding notable items)
ACL Coverage	1.15%		Stable ACL coverage	Unchanged	▪ Based on current economic outlook, expecting essentially stable ACL
	coverage: 1.16% @ 3/31/24 & 1.15% @ 12/31/23
Operating Leverage			Expecting to generate positive operating leverage between 4Q24 and 4Q23:
		Decrease in expenses + gains on sale of SBA loans more than offset pressure from net interest income

• Outlook excludes impact of pending merger with Territorial Bancorp (TBNK), announced on 4/29/24, which expected to close by year-end 2024.
• The updated Financial Outlook for 4Q24 is presented as of April 29, 2024, reflects the Company's financial outlook for 4Q24 vs. actual results in 4Q23, and will not be updated or affirmed unless and until the Company publicly announces such update or affirmation. The Company's financial outlook for 4Q24 is dependent on macroeconomic factors, including, but limited to, changes to market interest rates, and reflects expectations as of

	the date of this presentation. The Financial Outlook for 4Q24 contains forward-looking statements and actual results or conditions may differ materially and adversely from those included in the Financial Outlook for
	4Q24. Please refer to the "forward-looking statements" on Slide 2 of this presentation.	8
(1)	Noninterest expense excluding notable items is a non-GAAP financial measure. Quantitative reconciliations of the most directly comparable GAAP to non-GAAP financial measures are provided in the Appendix of this presentation.

Medium-Term Targets*

Anticipated positive impact from strategic reorganization

expected to drive operational efficiencies and greater returns in the medium term.

High single-digit

% growth

Targeting balanced growth across all business lines in normalized operating environment

Planning to maintain loan-to-

deposit ratio <95%

Loan

Growth

>10%

• Targeting medium-term annual revenue growth > loan growth
• Accelerated fee income growth

• Expanding net interest margin due
  to improved funding mix &

interest rate changes implied by the current forward rate curve

Revenue

Growth

<50%

Targeting efficiency ratio

improvement driven by revenue growth, expense management discipline, and operational process improvement

Efficiency

Ratio

>1.2%

Targeting attractive levels of

returns driven by

improved profitability

Return on

Avg Assets

• The Medium-Term Targets reflect the Company's current projections for 2026 and beyond. The Company's Medium-Term Targets are presented as of April 29, 2024, reflect the Company's current outlook for
  2026 and beyond, and will not be updated or affirmed unless and until the Company publicly announces such update or affirmation. Macroeconomic assumptions underpinning the Company's Medium-Term Targets reflect the current forward interest rate curve and assumes ongoing positive economic growth over the medium term, but at a slower pace when compared with 2023. The Company's Medium-Term Targets and current projections for 2026 and beyond are each dependent on macroeconomic factors, including, but not limited to, changes to market interest rates, and reflects expectations as of the date of this presentation. The Medium-Term Targets and macroeconomic assumptions contain forward-looking statements and actual results or conditions may differ materially and adversely from those included in the Medium-Term Targets. Please refer to the "forward-looking statements" on Slide 2 of this presentation.

9

Territorial Bancorp (TBNK) Pending Merger Highlights

Strategically

Compelling

Nasdaq: HOPE

Nasdaq: TBNK

Financially

Attractive

• Creates the largest U.S. regional bank catering to multi-ethnic customers across the continental United States and the Hawaiian Islands
• TBNK bolsters Combined Company's core funding base with $1.6 billion in low-cost deposits as of 12/31/23
• Accelerates diversification of Combined Company's loan portfolio by more than doubling HOPE's residential mortgage balances
• Market share growth opportunities by leveraging larger balance sheet, more resources, enhanced technology and broader array of banking products & services for enhanced customer experience
• Merger consideration of $78.6 million, or $8.82 per TBNK share(1)
• Fixed exchange ratio: 0.8048 HOPE shares per TBNK share in an all-stock transaction
• Expected to be immediately accretive after the close with double-digit percentage EPS growth(2). Targeting deal close by year-end 2024
• Strong capital to support growth of the Combined Company

Culturally

Aligned

• Shared corporate values that preserve and build on TBNK's 100+ year legacy of providing personalized customer service and supporting local communities
• To ensure continuity for customers and employees after the close, legacy TBNK will do business under the Territorial Savings Bank brand, as a trade name of Bank of Hope
• Continued dedication to and investment in the Hawai'i communities

(1)	Based on HOPE closing price of $10.96 as of 4/26/24	10
(2)	Accretion estimates as of 4/26/24 relative to consensus estimates