UMB Financial : 1Q24 UMBF Earnings Presentation

1st Quarter 2024

Update

Kansas City, MO

April 29, 2024

Presentation Index

Corporate Overview	3
Opportunity - Our Investment Thesis	8
1st Quarter 2024 Results	17

Line of Business Updates

Appendix

33

44

Board of Directors

Peer Group

Forward-Looking Statements

Non-GAAP Reconciliations

Please refer to the Forward-Looking Statements on slide 46 for important disclosures about information contained in this presentation.

2

Corporate Overview

Highlights

Founded	1913
Ticker	UMBF - Nasdaq
Market Cap	$4.2 B
Total Assets	$45.3 B
Gross Loans	$23.6 B
Total Deposits	$36.9 B
Private Wealth Customer Assets (1)	$16.2 B
Institutional Assets Under Administration (AUA) (2)	$483.4 B
Common Equity Tier 1 Capital Ratio	11.09%
Total Risk Based Capital Ratio	13.03%
Return on Equity	14.11%
Operating ROTCE (3)	16.94%
Net Charge-offs / Average Loans	0.05%
NPLs / Total Loans	0.08%
ACL / Total Loans	0.96%
Fee Income / Revenue	39.9%

UMB Financial Corporation Headquarters

UMB Bank Presence & Expansion

• 90 banking centers
• 237 ATMs

National Presence

•	Asset-based lending	•	Specialized Lending Verticals
•	Healthcare Services	•	Corporate Trust
•	Private Wealth Management	•	Capital Markets (4)
	& Personal Trust	•	Fund Services

International Presence

• UMBF Trust & Agency Services - Dublin, Ireland

At, or for, 3 months ended 03/31/24. (1) Includes $13.0B in managed assets & $3.2B in Assets Under Administration for Private Wealth customers; (2) Includes AUA in Fund Services/custody,	3
corporate trust and Healthcare Services; (3) Operating ROTCE is a non-GAAP measure. See reconciliation on slide 52; (4) UMB Bank, n.a. Capital Markets Div.

Business Model

Our Diverse Foundation

Commercial & Personal Banking Services

1Q'24 Revenue: $256.1 million. 1Q'24 Average Deposits: $19.8 billion (1)

		Commercial				Consumer		Private Wealth
Average loans: $19.7B (2)		Average loans: $3.1B (2) (3)	AUM = $13.0B
Average deposits: $13.3B		Average deposits: $6.5B	AUA = $3.2B
▪	C&I lending		▪	Treasury management	▪ Retail deposit & lending services	▪	Financial planning
▪	Small business lending	▪	Merchant payments		through 90 branches and online	▪	Investment management
▪	CRE & Construction lending		▪	Private banking services	▪	Wealth solutions
▪	Specialized Expertise:			▪	Consumer mortgage	▪	Business succession and exit planning
	-	Agribusiness	-	Aviation				▪	Trust & custody
	-	Energy	-	Asset-based lending			▪	Estate planning
	-	Practice finance	-	Beverage			▪ Direct private equity investment access

• Mezzanine debt & equity investments

Institutional Banking Services

1Q'24 Revenue: $142.6 million. 1Q'24 Average Deposits: $12.4 billion (1)

Institutional Banking provides solutions for the entire marketplace; $483.4 billion in AUA (4)

Corporate Trust

• Bond trustee, paying agent & escrow services

Institutional Custody

• Domestic & international custody services

Fund Services

• Fund accounting, fund administration & transfer agency
• Alternative investment servicing

Specialty Trust & Agency Solutions

• Default workout & successor trustee services
• Aviation, ABS & loan agency services
  Capital Markets Division (5)
• Fixed income sales & trading
• Public finance
• Asset / liability management services

Investor Solutions

• Banking, cash management & specialty services for financial firms

Healthcare Services

• Health savings & benefit spending accounts
• Healthcare payment solutions

Balances at, or for quarter ended, 03/31/24 (1) Excludes brokered deposits issued by Corp. Treasury; (2) Excludes credit card; (3) Includes consumer plus residential real estate loans; (4) Includes AUA in	4
Fund Services/custody, corporate trust & Healthcare Services; (5) Products offered through UMB Bank Capital Markets Div.: NOT FDIC INSURED | MAY LOSE VALUE | NOT BANK GUARANTEED.

Beyond Financials

Our Culture

Our Vision

the unparalleled customer experience

Our Commitment

An unwavering commitment to doing more for our customers.

Customers First

We do the unparalleled to create an environment that consistently exceeds the expectations of our customers.

Integrity & Trust

We demonstrate our uncompromising honesty and integrity to earn the trust of everyone we serve.

Performance & Strength

We achieve sustainable greatness by delivering on our promise, remaining independent and maintaining financial soundness.

Associate Spirit

We rely upon our people and their collective attitude and skills to differentiate us from our competitors.

Inclusion & Diversity

We believe an inclusive and diverse culture energizes the workplace and ignites innovation.

5

Beyond Financials

Our Culture

Creating an unparalleled customer experience requires a culture where our people feel part of something more, something bigger. We foster this experience through our policies, our business decisions and our expectations of each associate.

MORE

HEART

Whether it's having a heart for each other, our customers or our communities, we support work through inclusive policies and empowering people to create fulfilling lives in and out of the workplace.

MORE

TRUST

Our associates have confidence they will be encouraged and expected to do the right thing at all times - no matter what. We're focused on setting clear expectations and a leadership team who is accessible and transparent.

MORE OPPORTUNITY

Our goal is to grow existing strengths and build new skills. We're committed to empowering our workforce to make an impact and achieve their goals through open conversations and providing the tools to develop potential.

the

unparalleled customer experience

6

Beyond Financials

Our Commitment to Corporate Citizenship

Inclusion & Diversity

We want our company to be as diverse as the world we live in.

• As an early CEO Action for Diversity and Inclusion signatory, we regularly review progress of our inclusion strategy with executives and our board of directors
• Eight Business Resource Groups (BRGs) help us understand the needs of our associates, customers and communities and turn empathy into action
• In 2023, 36% of all UMB hires were people of color, 54% were women and 3% were veterans
• Diversity among executive leadership team - 50%; 7 of 14 members

Community Impact

Associate volunteerism and corporate philanthropy help build strong community partnerships.

• $6.8 million in company donations and sponsorships in 2023, supporting housing needs, small business, education and emerging talent
• UMB provided more than $8.3 million in grants and closing costs to first- time homebuyers across the bank's footprint
• We delivered more than 344 community engagement activities and held 127 financial education classes, serving more than 1,400 community participants
• More than 1,000 associates participated in our matching gift program; combined with workplace giving, associated giving totaled nearly $650k
• Associates receive 16 hours of paid Volunteer Time Off annually. 697 participants logged nearly 7,700 hours of volunteer time in 2023, supporting 303 unique charities

Strong Corporate Governance

Effective governance practices preserve the confidence and trust of our stakeholders.

• 11-personboard of directors, with 10 independent members, a lead independent director, and 100% independence on board committees
• 36% board diversity
• Deliberate selection criteria which includes diversity standards in the board nomination process
• Robust risk oversight with distinct risk management committees: enterprise risk, asset and liability, and credit
• Board oversight of the executive ESG Committee

Efficient & Sensible Resource Use

UMB recognizes the undeniable importance of sustainable business practices.

• All UMB-owned buildings and 4 leased locations use automated systems to conserve energy, meeting our goal to have all converted by year-end 2023. Additionally, exterior lighting upgrades saved 920k Kilowatt hours during the year
• More than 172k Kilowatt hours generated from solar panels
• 2023 recycling efforts produced more than 17k pounds of comingled recycling, 7k pounds of cardboard and 443 pounds of recycled batteries
• Beehives housed at a Denver branch support the local honeybee population, with a peak of 270k resident bees. Since installation, we've harvested 330 pounds of edible honey

Read our 2023 Corporate Citizenship Report at UMB.com/ESGreport	7

Our Investment Thesis

Salt Lake City, UT

Investment Thesis

Our Opportunity

Runway for Growth

Solid capital levels and ample liquidity sources

• Strong regulatory capital ratios
• Access to multiple contingent funding sources

Diverse deposit base across multiple lines of business, customer segments and geographies

• No one commercial sector represents more than 5% of total average deposits
• Long-tenuredrelationships: Clients that have been with us for more than 15 years hold ~46% of deposit balances (1)

Track record of strong loan growth - opportunities remain

• Underpenetrated across our geographic footprint, focused on market share gains
• Underpenetrated vertically on an asset class basis; built out specialized teams

Flexible balance sheet well-positioned for changing interest rate environments

▪	Above peer earning asset growth	▪	Variable asset base
▪	Lower loan-to-deposit ratio provides flexibility	▪	> $1.3 billion of securities cash flow expected within 12 months

• 30% of average deposit balances in DDA

Differentiated revenue profile and growing fee income

• Revenue from diverse lines of business and verticals provide a natural hedge in a variety of rate environments
• Lower-than-peerreliance on mortgage and NSF/OD revenue

Time-tested underwriting philosophy

• Unwavering credit standards
• Long-tenuredcredit team - average of 23 years with UMB
• Chief Credit Officer - 38 years with UMB

Focus on returning value to shareholders; risk-adjusted returns

• EPS and tangible book value growth outpace peers over the long-term
• Consistent dividend growth

(1) Average collected balances for March 2024; excludes CDs, health savings and FinTech deposits.

9

Differentiated Revenue Profile

Multiple Sources of Growth

Net Interest Income

15 Year

CAGR

8.4%

$558.9

$495.3

$412.1

	$303.0	$310.6	$317.0	$320.1	$333.3	$350.1
$275.1

$610.4

$670.9

$913.8 $920.1

$ 815.5

$731.2

Annual NII	18%	10%	3%	2%	1%	4%	5%	18%	20%	13%	9%	10%	9%	12%	12%	1%
Growth

Fee Income Provides Diversity

15 Year

CAGR

6.3%

Revenue

Growth

15 Year

CAGR

3.7%

Fee Income

Growth

Total Revenue

53%

30%

$587.8 $613.2

$671.0

$731.3 $778.2

$1,468.0 $1,462.0

$1,291.4 $ 1,282.7

$1,097.7

$971.4 $982.5 $1,012.1

$825.1 $848.7 $878.5

37%

20%

Annual Revenue				Net Interest Income (before provision)		Noninterest Income (1)		% fee income		Peer Median % Fee Income (2)
13%	4%	9%	9%	6%	6%	3%	4%	11%	1%	3%	8%	18%	-1%	14%	-0.4%
Growth

Dollars in millions. (1) Contains income from discontinued operations prior to 2017; (2) UMB peers (15 banks) as of latest available annual period. Source: S&P Capital IQ. (3) 2022 noninterest	10
income included a $66.2 million pre-tax gain on the sale of Visa Inc. Class B shares.