Dime Community Bancshares : Investor Presentation – March 2024

Dime Community Bancshares, Inc.

(NASDAQ: DCOM)

March 2024

Forward-Looking Statements

This presentation contains a number of 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 (the "Exchange Act"). These statements may be identified by use of words such as "annualized," "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "likely," "seek," "may," "outlook," "plan," "potential," "predict," "project," "should," "will," "would" and similar terms and phrases, including references to assumptions.

Forward-looking statements are based upon various assumptions and analyses made by Dime Community Bancshares, Inc. (together with its direct and indirect subsidiaries, the "Company"), in light of management's experience and its perception of historical trends, current conditions and expected future developments, as well as other factors it believes appropriate under the circumstances. These statements are not guarantees of future performance and are subject to risks, uncertainties and other factors (many of which are beyond the Company's control) that could cause actual conditions or results to differ materially from those expressed or implied by such forward-looking statements. Accordingly, you should not place undue reliance on such statements. These factors include, without limitation, the following:

• the timing and occurrence or non-occurrence of events may be subject to circumstances beyond the Company's control;
• there may be increases in competitive pressure among financial institutions and from non-financial institutions;
• the net interest margin is subject to material short-term fluctuation based upon market rates;
• changes in deposit flows, loan demand or real estate values may affect the business of the Company;
• changes in the quality and composition of our loan or investment portfolios;
• unanticipated or significant increases in loan losses may negatively affect the Company's financial condition or results of operations;
• changes in accounting principles, policies or guidelines may cause the Company's financial condition to be perceived differently;
• changes in corporate and/or individual income tax laws may adversely affect the Company's business or financial condition or results of operations;
• general economic conditions, either nationally or locally in some or all areas in which the Company conducts business, or conditions in the securities markets or the banking industry, may be different than the Company currently anticipates;
• legislative, regulatory or policy changes may adversely affect the Company's business or results of operations;
• technological changes may be more difficult or expensive than the Company anticipates;
• there may be failures or breaches of information technology security systems;
• success or consummation of new business initiatives or the integration of any acquired entities may be more difficult or expensive than the Company anticipates;
• litigation or other matters before regulatory agencies, whether currently existing or commencing in the future, may delay the occurrence or non-occurrence of events longer than the Company anticipates; and
• the risks referred to in the section entitled "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2023 as updated by our Quarterly Reports on Form 10-Q and Current Reports on Form 8-K.

The Company has no obligation to update any forward-looking statements to reflect events or circumstances after the date of this document.

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Investment Highlights

1. Leading market share and best-in-class deposit franchise with significant scarcity value
2. Operates in an attractive, high-density market for business customers
3. Proactive management team that is capitalizing on disruption in local marketplace
4. Strong and consistent financial performance
5. Opportunity to transform balance sheet towards business loans
6. Superior asset quality through various cycles
7. Maintains strong liquidity coverage ratios
8. Strong corporate governance
9. Established community ally with an "Outstanding" CRA rating

New York's Premier Business Bank

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History

A community bank built on perseverance, character, customer service and community reinvestment

The Dime Savings Bank of Williamsburg is founded approximately 6 months after President Lincoln delivers Gettysburg Address, and approximately 1 year before the US is reunited after the Civil War

The Bridgehampton National Bank is incorporated in the same week the Boy Scouts of America is incorporated by W.D. Boyce

Dime Community Bank and BNB Bank complete a Merger of Equals amidst the COVID- 19 pandemic and combine to loan almost $2 billion of Paycheck Protection Program loans to customers and businesses in need

1864

1910

2021

4

Leading Market Share and Significant Scarcity Value

• Dime ranks #1 by deposit market share on Greater Long Island amongst community banks (1)(2)
• Ubiquitous brand and coverage spanning entire footprint
• Only publicly-traded community bank with over $1.0 billion of Tier 1 capital headquartered on Greater Long Island
• • In the "sweet spot" to uniquely serve middle market clients with our capabilities, customer focus and capital base
  • Capitalizing on disruption from recent mergers in our footprint as none of the acquirors are locally managed

#1 Community Bank on Greater Long Island by Deposit Market Share

Rank	Institution	Branches	Deposits	Market
			($B)	Share
1	Dime	56	$10.2	22.3%
2	Apple	46	$7.1	15.6%
3	Flushing	24	$6.3	13.8%
4	Ridgewood	27	$4.7	10.3%
5	First of Long Island	40	$3.4	7.4%

Source: S&P Global. Data as of June 30th, 2023.

From Montauk to Manhattan

(1) Greater Long Island defined as Kings, Queens, Nassau, and Suffolk Counties.	Source: S&P Global
(2) Community Banks defined as Banks with assets less than $20 billion.

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Best-in-Class Deposit Franchise

Q4 2023 Cost of Deposits: Vs "Footprint Banks" (1)

Time,

15%

$10.5B

Savings, Total MMA &

NOW,

57%

Non-Int

Bearing

DDA,

28%

First of Long Island

Dime

NYCB

Apple

1.90%

2.50%

2.64%

2.70%

Alma

Q4 2023 Cost of Deposits: 2.50%

		BankUnited
		Flushing
Not Insured,	FDIC Insurance,
29%	Pass-Through	Valley
	Insurance,
	Collateralized
	by Securities /	Hanover
	Letters of
	Credit, 71%

0.00%

2.86%

2.98%

3.10%

3.13%

3.80%

1.00%

2.00%

3.00%

4.00%

Note: Balance Sheet data for Dime as of Q4 23.

Source: S&P Global.

(1) "Footprint Banks" include institutions with less than $150B of assets and
>$500M of deposits in any one of the Greater Long Island counties (Kings,	6
Queens, Nassau, Suffolk).

Proven Track Record of DDA Growth

Noninterest Bearing Deposits ($ in millions)

$2,945

$1,449

12/31/2016 (1)

12/31/2023

Our management team has a proven track record of growing DDA organically

(1) Represents sum of Legacy Dime & Legacy BNB on a combined basis.

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We Operate in An Attractive Market with Significant Opportunities for Market Share Gains

• Combined population of ~ 8 million for Kings, Queens, Nassau, and Suffolk would represent the 14th largest state in the country
• $329 Billion of total deposits in Greater Long Island marketplace (1)

	Total Deposits in Market ($Billions)
$400
$350
$300	$329
$250					Total: Greater Long
	$253
$200				Island
$150					Market Share of Banks
				with >$100B of Assets
$100
$50
$0

Significant opportunity to continue to gain market share from bigger banks

Source: S&P Global. Data as of June 30th, 2023.

(1) Greater Long Island defined as Kings, Queens, Nassau, and Suffolk Counties.

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Our Footprint is Characterized by Above Average Wealth and Significant Business Density

Median Household Income

# Businesses/Square Mile

$140,000		350
$120,000	$116,449	300
$100,000		250
$80,000	$75,874	200
$60,000		150
$40,000		100
$20,000		50
$0		0

Dime's Greater LI Footprint (1)	United States	Greater Long Island	United States
Source: S&P Global		Source: S&P Global

• Median household income in our deposit footprint is well above national average
• The business density across our footprint provides us a unique opportunity
• The attractive demographics of our footprint allows us to operate successfully as a pureplay in-market community commercial bank
• 1. Median household income is weighted by Dime's deposits in each county in Greater Long Island.

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Capitalizing on Disruption in Local Marketplace

Objective

Results

Expansion of

C&I Lending

Operations

Hiring

Productive

Deposit

Focused Groups

• Capitalize on large merger transactions in our market by hiring productive bankers
• Build out a middle market lending group and industry specific lending expertise to create a sustainable organic growth story
• Capitalize on bank failures and disruptions that impacted larger Metro NY area banks
• Become an employer of choice by leveraging our distinctive features: best in class technology, flat organizational structure, relationship-based mindset and long-standing financial strength

• Hired Head of Middle Market Lending (previously CLO at Bank Leumi) in April 2022
• Built out a healthcare lending vertical that will add diversity to balance sheet
• Loan pipeline is heavily weighted towards business loans
• Hired 21 employees in total in Q2 2023 to focus on deposit generation
• Made significant operational and technology- related enhancements in Private and Commercial Bank ("PCB") during second half of 2023 and created a best-in-class platform that exemplifies a single-point of contact approach

As a result of market share gains in our PCB business, total Company-wide core deposits

are up in excess of $400 million on a linked quarter basis (1)

Launch of

National

Deposits Group

• Dime continues to execute growth plan with the launch of a National Deposits Group. Martin Ball (previously Head of National Deposits at Valley Bank) to lead efforts
• The National Deposits Group will expand Dime's capabilities into several new deposit-rich verticals including: death care services, escrow servicing, family offices, fund banking, hedge funds, insurance, medical billing, private equity, software, and third party payment processors,
  while also focusing on several other industries where Dime has a presence

(1) As of March 12th, 2024

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