Associated Banc-Corp (ASB) Strategic Update summary

Opening remarks and agenda

• Strategic update call on December 4, 2024, focused on progress, future plans, and balance sheet repositioning to accelerate organic growth, with management highlighting forward-looking statements and risk factors.

• Emphasis on three years of organic growth strategy, targeting customer growth, commercial market share, and profitability.

Guidance on key objectives

• Continued execution of phase two of the growth plan, with actions to accelerate strategy in Q4, aiming to enhance earnings, boost capital, and provide additional loan growth capacity.

• Focus on remixing the balance sheet, improving profitability, and reducing reliance on low-yielding assets, with targeted improvements in capital and peer-like performance metrics in 2025 and 2026.

• Emphasis on attracting and deepening customer relationships and taking market share in key commercial markets.

Market trends and strategic opportunities

• Positive momentum in household growth, commercial loan expansion, and customer satisfaction, with $3.4 billion in commercial loans and $2.7 billion in prime auto loans added since 2021.

• Achieved highest annual net promoter and mobile banking satisfaction scores since tracking began, and recognized as #1 for retail banking customer satisfaction in the Upper Midwest by J.D. Power.

• Yield curve and market conditions seen as favorable for continued growth into next year.