Seacoast Banking of Florida : Fourth Quarter Conference Call Presentation

EARNINGS PRESENTATION

FOURTH QUARTER 2021

20

21

Cautionary Notice Regarding Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning, and protections, of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including, without limitation, statements about future financial and operating results, cost savings, enhanced revenues, economic and seasonal conditions in the Company's markets, and improvements to reported earnings that may be realized from cost controls, tax law changes, new initiatives and for integration of banks that the Company has acquired, or expects to acquire, including Florida Business Bank and Sabal Palm Bank, as well as statements with respect to Seacoast's objectives, strategic plans, expectations and intentions and other statements that are not historical facts, any of which may be impacted by the COVID-19 pandemic and any variants thereof and related effects on the U.S. economy. Actual results may differ from those set forth in the forward-looking statements.

Forward-looking statements include statements with respect to the Company's beliefs, plans, objectives, goals, expectations, anticipations, assumptions, estimates and intentions about future performance, and involve known and unknown risks, uncertainties and other factors, which may be beyond the Company's control, and which may cause the actual results, performance or achievements of Seacoast to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. You should not expect the Company to update any forward-looking statements.

All statements other than statements of historical fact could be forward-looking statements. You can identify these forward- looking statements through the use of words such as "may", "will", "anticipate", "assume", "should", "support", "indicate", "would", "believe", "contemplate", "expect", "estimate", "continue", "further", "plan", "point to", "project", "could", "intend", "target" or other similar words and expressions of the future. These forward-looking statements may not be realized due to a variety of factors, including, without limitation: the effects of future economic and market conditions, including seasonality and the adverse effects of COVID-19 (economic and otherwise); government or regulatory responses to the COVID-19 pandemic; governmental monetary and fiscal policies, including interest rate policies of the Board of Governors of the Federal Reserve, as well as legislative, tax and regulatory changes including those that impact the money supply and inflation; changes in accounting policies, rules and practices, including the impact of the adoption of the current expected credit losses ("CECL") methodology; participation in the Paycheck Protection Program ("PPP"); the risks of changes in interest rates on the level and composition of deposits, loan demand, liquidity and the values of loan collateral, securities, and interest rate sensitive assets and liabilities; interest rate risks, sensitivities and the shape of the yield curve; uncertainty related to the impact of LIBOR calculations on securities, loans and debt; changes in borrower credit risks and payment behaviors; changes in retail distribution strategies, customer preferences and behavior; changes in the availability and cost of credit and capital in the financial markets; changes in the prices, values and sales volumes of residential and commercial real estate; our ability to comply with any regulatory requirements; changes in the prices, values and sales volumes for residential and commercial real estate; our ability to comply with any regulatory requirements; the effects of problems encountered by other financial institutions that adversely affect Seacoast or the banking industry; the Company's concentration in commercial real estate loans and in real estate collateral in Florida; inaccuracies or other failures from the use of models, including the failure of assumptions and estimates, as well as differences in, and changes to, economic, market and credit conditions; the impact on the valuation of Seacoast's investments due to market volatility or counterparty payment risk; statutory and regulatory dividend restrictions; increases in regulatory

capital requirements for banking organizations generally; the risks of mergers, acquisitions and divestitures, including Seacoast's ability to continue to identify acquisition targets, successfully acquire and integrate desirable financial institutions, and realize expected revenues and revenue synergies; changes in technology or products that may be more difficult, costly, or less effective than anticipated; the Company's ability to identify and address increased cybersecurity risks, including as a result of employees working remotely; inability of Seacoast's risk management framework to manage risks associated with the Company's business; dependence on key suppliers or vendors to obtain equipment or services for the business on acceptable terms; reduction in or the termination of Seacoast's ability to use the mobile-based platform that is critical to the Company's business growth strategy; the effects of war or other conflicts, acts of terrorism, natural disasters, health emergencies, epidemics or pandemics, or other catastrophic events that may affect general economic conditions; unexpected outcomes of and the costs associated with, existing or new litigation involving the Company, including as a result of the Company's participation in the PPP; Seacoast's ability to maintain adequate internal controls over financial reporting; potential claims, damages, penalties, fines and reputational damage resulting from pending or future litigation, regulatory proceedings and enforcement actions; the risks that deferred tax assets could be reduced if estimates of future taxable income from the Company's operations and tax planning strategies are less than currently estimated and sales of capital stock could trigger a reduction in the amount of net operating loss carryforwards that the Company may be able to utilize for income tax purposes; the effects of competition from other commercial banks, thrifts, mortgage banking firms, consumer finance companies, credit unions, non-bank financial technology providers, securities brokerage firms, insurance companies, money market and other mutual funds and other financial institutions operating in the Company's market areas and elsewhere, including institutions operating regionally, nationally and internationally, together with such competitors offering banking products and services by mail, telephone, computer and the Internet; the failure of assumptions underlying the establishment of reserves for possible loan losses.

Actual results and capital and other financial conditions may differ materially from those included in these statements due to a variety of factors. These factors include, among others described above, macroeconomic and other challenges and uncertainties related to the COVID-19 pandemic, such as the duration and severity of the impact on public health, including the potential negative impact of various state and local policies enacted as a result of the pandemic and the vaccines' efficacy against the virus, including new variants, the U.S. and global economies, financial markets and consumer and corporate customers and clients, including economic activity and employment, as well as the various actions taken in response by governments, central banks and others, including Seacoast, and the precautionary statements included in this release.

All written or oral forward-looking statements attributable to us are expressly qualified in their entirety by this cautionary notice, including, without limitation, those risks and uncertainties described in the Company's annual report on Form 10-K for the year ended December 31, 2020 and quarterly reports on Form 10-Q for the quarters ended March 31, 2021, June 30, 2021, and September 30, 2021 under "Special Cautionary Notice Regarding Forward-Looking Statements" and "Risk Factors", and otherwise in the Company's SEC reports and filings. Such reports are available upon request from the Company, or from the Securities and Exchange Commission, including through the SEC's Internet website at www.sec.gov.

FOURTH QUARTER 2021 EARNINGS PRESENTATION

2

Valuable Florida Franchise, Well Positioned for Growth with Strong Capital, Liquidity and Disciplined Credit Culture

Seacoast Customer Map

JACKSONVILLE MSA

ORLANDO MSA

TAMPA BAY MSA

PORT ST LUCIE MSA

• $9.7 billion in assets as of December 31, 2021, operating in the nation's third-most populous state
• Strong presence in Florida's most attractive markets
• • #1 Florida-based bank in Orlando MSA
  • #1 market share in Port St Lucie MSA
  • #2 Florida-based bank in West Palm Beach/Fort Lauderdale
  • #2 Florida-based bank in St. Petersburg
• Market Cap: $2.1 billion as of December 31, 2021

• Highly disciplined credit portfolio
• Strong liquidity position
• Prudent capital position to support further organic growth and opportunistic acquisitions
• Steady increase in shareholder value with tangible book value per share increasing 10% year-over-year
• Active board with a diverse range of experience and expertise

NAPLES MSA	WEST PALM BEACH,
FORT LAUDERDALE MSA

FOURTH QUARTER 2021 EARNINGS PRESENTATION

3

Florida's Economic Growth Continues

• Companies and individuals seeking lower taxes, warmer weather, and easy flights back to the Northeast are migrating to Florida.
• Florida's population grew 14.6% between 2010 and 2020. Double the rate of overall U.S. population growth. Source: US Census data
• • At over 21.7 million people in 2021, Florida is the third most populous state. Source: US Census data
  • Florida ranks #1 in net migration in the U.S. for fifth consecutive year. Source: US Census data
  • Florida's population grew by over 360,000 in 2020, the equivalent of adding a city larger than Orlando. Source: The Florida Legislature Office

of Economic & Demographic Research

• Major corporations have relocated or announced plans to relocate some or all of their operations to Florida.

FOURTH QUARTER 2021 EARNINGS PRESENTATION

4

Fourth Quarter 2021 Highlights

• Earnings per share of $0.62, an increase of 17% compared to 4Q'20.
• Net income of $36.3 million, an increase of 24% compared to 4Q'20.
• Adjusted net income1 of $36.9 million, an increase of 20% compared to 4Q'20.
• Fourth quarter 2021 annualized loan growth of 8%.
• Commercial loan originations increased 23% over the prior quarter and 47% over the prior year to a record $409 million. Record commercial pipeline of $398 million.
• Record consumer loan originations of $73 million, increasing 9% from the prior quarter and 53% from the prior year.

FOURTH QUARTER 2021 EARNINGS PRESENTATION

• Net interest margin declined six basis points to 3.16%. Excluding the effect of PPP and accretion on acquired loans, net interest margin increased two basis points to 2.91%.
• Steadily building shareholder value through consistent growth in tangible book value per share, ending the period at $17.84, an increase of 10% over the prior year.
• Cost of deposits improved to six basis points.
• Assets under management of $1.2 billion at December 31, 2021, a year-over-year increase of 42%.
• In January 2022, completed the acquisitions of Sabal Palm Bank and Florida Business Bank, adding $615 million in assets.

1Non-GAAP measure, see "Explanation of Certain Unaudited Non-GAAP Financial Measures" for more information and a reconciliation to GAAP.

5