Bank of Marin Bancorp : 2023 KBW Virtual West Coast Bank Field Trip

Forward-Looking Statements

This discussion of financial results includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, (the "1933 Act") and Section 21E of the Securities Exchange Act of 1934, as amended, (the "1934 Act"). Those sections of the 1933 Act and 1934 Act provide a "safe harbor" for forward-looking statements to encourage companies to provide prospective information about their financial performance so long as they provide meaningful, cautionary statements identifying important factors that could cause actual results to differ significantly from projected results. Our forward-looking statements include descriptions of plans or objectives of management for future operations, products or services, and forecasts of revenues, earnings or other measures of economic performance. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include the words "believe," "expect," "intend," "estimate" or words of similar meaning, or future or conditional verbs preceded by "will," "would," "should," "could" or "may." Forward-looking statements are based on management's current expectations regarding economic, legislative, and regulatory issues that may affect our earnings in future periods. Factors that could cause future results to vary materially from current management expectations include, but are not limited to, general economic conditions and the economic uncertainty in the United States and abroad, including economic or other disruptions to financial markets caused by acts of terrorism, war or other conflicts such as Russia's military action in Ukraine and more recently between Israel and Hamas, impacts from inflation, supply change disruptions, changes in interest rates (including the actions taken by the Federal Reserve to control inflation), California's unemployment rate, deposit flows, real estate values, and expected future cash flows on loans and securities; costs or effects of acquisitions; competition; changes in accounting principles, policies or guidelines; changes in legislation or regulation; natural disasters (such as wildfires and earthquakes in our area); adverse weather conditions; interruptions of utility service in our markets for sustained periods; and other economic, competitive, governmental, regulatory and technological factors (including external fraud and cybersecurity threats) affecting our operations, pricing, products and services; and successful integration of acquisitions. Important factors that could cause results or performance to materially differ from those expressed in our prior forward-looking statements are detailed in ITEM 1A, Risk Factors section of our December 31, 2022 Form 10-K as filed with the SEC, copies of which are available from us at no charge. Forward-looking statements speak only as of the date they are made. Bancorp undertakes no obligation to release publicly the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date of this press release or to reflect the occurrence of unanticipated events.

GAAP to Non-GAAP Financial Measures

This presentation includes some non-GAAP financial measures as shown in the Appendix of this presentation. Please refer to the reconciliation of GAAP to Non-GAAP financial measures included on pages 6 and 7 of our Form 8-K under Statement Regarding use of Non-GAAP Financial Measures, filed with the SEC on October 23, 2023.

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Bank of Marin Bancorp

Data as of September 30, 2023. Market capitalization as of October 31, 2023

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244 Years of Combined Management Experience

Through Various Economic Cycles

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Delivering a Relationship and Community-focused Banking Model on a Regional Scale

• 27 retail branches and 8 commercial banking offices located across 10 Northern California counties.
• Sound underwriting produces a high-quality loan portfolio with low credit costs and stable earnings through cycles.
• Strong deposit base with competitively priced funding source for lending activity.

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Long-term Strategic Priorities

A strategic and disciplined approach

to delivering long-term value

Drive high-qualityLOAN GROWTH

Grow NON-INTEREST INCOME

Scale through EFFICIENCY GAINS and ACQUISITIONS Invest in TALENT and TECHNOLOGY

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Third Quarter 2023 Highlights

1See Reconciliation of Non-GAAP Financial Measures in the Appendix

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Tax Equivalent Net Interest Margin

4.50%

• Peer group includes major exchange-traded Western region banks with assets of $2 billion to $10 billion. Peer data as of September 30, 2023.

• Includes one peer bank with a unique business model and a NIM of 7.1% in Q1, 7.6% in Q2 and in Q3. Excluding this bank, the median NIM would be 3.91% in Q1, 3.56% in Q2 and 3.57% in Q3.

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Net Interest Margin Drivers

• Linked-quarterNIM increased 3 bps, due primarily to security sales proceeds maintained in higher interest-bearing cash balances
• The cost of deposits increased to 100 bps in the month of September compared to 82 bps in June 2023.
• The current cycle beta of 31% on non-maturity,interest-bearing deposits compares to our interest rate risk modeling assumption of 36%, which is doubled for stress testing.

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