Freedom Financial : FDVA Annual Shareholders Meeting 2024

Annual Shareholder Meeting

April 25, 2024

Joseph J. Thomas - President & CEO

Disclosure

This presentation contains forward-looking statements, including our expectations with respect to future events that are subject to various risks and uncertainties. Factors that could cause actual results to differ materially from management's projections, forecasts, estimates, and expectations include fluctuation in market rates of interest and loan and deposit pricing; adverse changes in the overall national economy, as well as adverse economic conditions in our specific market areas; maintenance and development of well-established and valued client relationships and referral source relationships; and acquisition or loss of key production personnel. Other risks that can affect the Bank are detailed from time to time in our quarterly and annual reports filed with the Federal Financial Institutions Examination Council. We caution readers that the list of factors above is not exclusive. The forward-looking statements are made as of the date of this presentation, and we may not undertake steps to update the forward-looking statements to reflect the impact of any circumstances or events that arise after the date the forward-looking statements are made. In addition, our past results of operations are not necessarily indicative of future performance.

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Agenda

Company Overview

Results for Q1 2024 and FY 2023

Investment Summary

Company Overview

Our Company

Franchise Footprint

Company Highlights (as of 12/31/2023)

Corporate Information
Bank Established:	7/23/2001
Headquarters:	Fairfax, VA
Employees:	95
Current Market Data		Maryland
Ticker	OTCQX: FDVA
Mkt. Cap ($M):	$79.2
Closing Price:	$10.91
Price / TBV:	103%
Price / LTM EPS:	34.1x	DC
3M Avg Daily Volume:	5,555
		Virginia

Loudoun County Location

Coming Soon

$1.1B

Total Assets

$921M

Total Deposits

GAAP 0.22%

2023 ROAA

Adjusted* 0.63%

12.5%

2023 Non-Interest

Income/Total Revenue

$776M

Total Loans

12.7%

CET1 Ratio

GAAP 3.01%

2023 ROATCE*

Adjusted* 8.48%

2.77%

2023 NIM

Note: Market data as of 2/2/2024

* Pre-tax,pre-provision adjusted for the fourth quarter provision and the expenses related to the large non-accrual loan relationship

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Vision and Values

VISION

• Provide compelling ideas, relevant financial products, and exceptional service to our clients in the way they wish to be served.
• Focus on building lead relationships with businesses, real estate owners, and professionals with branch offices across Northern Virginia/DC MSA.
• Concentrate on industry verticals to deliver unique, sector-specific solutions and have market executives to engage local businesses and communities.
• Use innovative technology, network of sales offices and a team of experienced bankers to make banking functional and convenient for businesses and consumers.
• Serve as a leader in economic inclusion in the Great DC region via our efforts with the Freedom Bank Foundation and the NOVA Freedom Loan Fund.

VALUES

• Freedom Bank's innovative approach to banking starts with IDEAS based upon a keen understanding of client needs and market opportunities.
• • Innovate - Exhaust all options and take smart risks
  • Discipline - Take action with unwavering integrity
  • Experience - Deliver exceptional customer outcomes
  • Attitude - Build relationships through teamwork and respect
  • Service - Participate in our communities and industries
• Our IDEAS help define the value we bring to lead client relationships and in the capabilities that we develop on our team or through partnering with best-in-class product providers.

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Executive Management

Joseph J. Thomas - President and CEO - Mr. Thomas was appointed in August 2018. He was previously President and CEO of Bay Bancorp (NASDAQ: BYBK), a community bank with $700 million in total assets based in Columbia, Maryland, before its successful sale to Old Line Bancshares. He was formerly Managing Director of Hovde Private Equity Advisors and had a distinguished 20+ year banking career with Wachovia Corporation, most recently as Managing Director and Head of Financial Institutions Investment Banking. Mr. Thomas holds a BA from the University of Virginia and an MBA from Fuqua School of Business at Duke University.

Shaun E. Murphy - Senior Executive Vice President & Chief Operating Officer and Chief Risk Officer- Mr. Murphy has over 25 years of national and international experience in financial services leadership. He was most recently SEVP and Chief Credit & Risk Officer at City First Bank in Washington DC since 2015. Prior to that, he served as Chief Risk Officer of H Bancorp where he was responsible for all risk and compliance activities and served on the Board of Directors of Bay Bancorp and its bank subsidiary, Bay Bank. Prior to H Bancorp, Mr. Murphy served as Managing Director of Hovde Private Equity Advisors, LLC.

Raj Mehra - Executive Vice President & Chief Financial Officer - For many years Mr. Mehra was CFO of Middleburg Financial Corp., the holding company for Middleburg Bank. Previously, he served as director of financial risk management at PricewaterhouseCoopers, and held positions at JP Morgan Chase and Credit Suisse. Mehra received his bachelor's degree from the Indian Institute of Technology, and holds two graduate degrees, including an MBA from the University of Massachusetts. He is a member of the American Bankers Association's Accounting Committee and the AICPA's Depository Institution Expert Panel.

Marc A Tohir - Executive Vice President & Head of Commercial Banking - Mr. Tohir was most recently Senior Vice President and Group Manager at PNC Bank managing the Northern Virginia area. In that role he managed the Northern Virginia team of commercial relationship managers serving clients and prospects with revenue between 5 to 100 million. Prior to that, he was Vice President and Relationship Manager at Truist (SunTrust) Bank where he focused on business development, relationship management, sales and risk management. Mr. Tohir received his Bachelor of Arts in Social and Behavioral Sciences with an emphasis on Economics from Johns Hopkins University.

Victoria S. Loucks - Executive Vice President & Head of Deposit Products - Ms. Loucks began her career at First National Bank of Maryland, a predecessor to M&T Bank. In her 25-year banking career she has held numerous positions in commercial banking including relationship management, treasury management and training. Ms. Loucks has held producer and leadership positions at several local and national banks and most recently led the Not-for-Profit and GovCon treasury efforts for

Capital One Bank. She holds a bachelor's degree in Finance from Virginia Tech and attended post graduate studies in International Finance at Johns Hopkins

University.

Richard A. Hutchison - Executive Vice President & Chief Mortgage Officer - Mr. Hutchison was previously with Virginia Heritage Bank, which was successfully sold to Eagle Bank in October 2014, as a Senior Executive Officer and the Chief Mortgage Officer responsible for all mortgage loan production and first trust mortgage origination. Prior to Virginia Heritage Bank, Hutchison was a Senior Executive Officer with Community Bank of Northern Virginia, which was sold to Mercantile and PNC. Hutchison is a native of Western Fairfax County and has been in local community banking for 42 years.

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Department Leadership

Thyda Price

Compliance Director

Florante Santos

Chief Technology Officer

Doris Hambright

HR Director

Raz Sofy

Controller

Gabrielle Seng

Branch Banking Manager

Jenny Joudeh

Head of Deposit Operations

Kathleen Johnson

Chief Marketing Officer

Jamie Adkins

Head of Mortgage Operations

Erin Moore

Head of Loan Operations

David Sanders

Chief Accounting Officer

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Diverse Business Lines

Commercial Banking

• Seasoned team of 9 Commercial Bankers and Portfolio Managers
• Broad focus across the C&I, Industry Verticals, and Commercial Real Estate markets
• Strong business banking franchise with C&I loans representing 23% of total loans as of December 31, 2023

Community Banking

• Rational branch network with five sales offices across Northern Virginia market
• Strong core deposits with non-interest deposits comprising 16% of total deposits as of December 31, 2023
• Cost of funds of 2.77% for twelve months ended December 31, 2023

Treasury Services

• Robust Treasury Management team of 5 and Payment solutions on Q2 and Fiserv platforms
• Merchant Services offered through a strategic partnership with Fiserv/First Data
• Business Credit Cards offered through a strategic partnership with Elan Financial Services

SBA Banking

• Approved to offer SBA loan products under SBA's Preferred Lender Program
• Team of 6 experienced SBA professionals offering SBA 7(a), and 504, USDA, and Bureau of Indian Affairs loans
• Generated loan production of $18.8 million for twelve months ended December 31, 2023

Mortgage Banking

• Experienced team of 11 mortgage loan officers and dedicated Operations team in Chantilly
• Generated residential loan production of $146.4 million including $59.3 million for portfolio for the twelve months ended December 31, 2023
• Extensive product offering driving purchase volume, including VA, FHA, VHDA, and USDA mortgages

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Technology Enabled Businesses

Commercial Banking		Treasury & Payments

Small Business

Residential Mortgage

• Fiserv - Core Provider
• Finastra/CreditQuest - Digital LOS
• Elan - Corporate Credit Card

• Q2 - Online Banking
• Autobooks - Invoicing and Payments
• First Data/Clover - Merchant Services

• Spark - Digital LOS
• Monday.com - Customer Relationship Management

• Encompass - Digital Platform
• SimpleNexus - Mobile Enabled
• Optimum Blue - Secondary Market Pricing

Risk Management

• SRA WatchTower Enterprise Risk
• ProfitFit (PCBB) - Customer Profitability
• N Contracts - Compliance Management

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