Financial ResultsFourth Quarter and Full Year 2024January 23, 2025

Forward Looking Statements This presentation contains “forward-looking statements” concerning the Corporation’s future economic, operational and financial performance. The words or phrases “expect,” “anticipate,” “intend,” “should,” “would,” “will,” “plans,” “forecast,” “believe” and similar expressions are meant to identify “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are subject to the safe harbor created by such sections. The Corporation cautions readers not to place undue reliance on any such forward-looking statements, which speak only as of the date hereof, and advises readers that any such forward-looking statements are not guarantees of future performance and involve certain risks, uncertainties, estimates and assumptions by us that are difficult to predict. Various factors, some of which are beyond our control, including, but not limited to, the uncertainties more fully discussed in Part I, Item 1A, “Risk Factors” of the Corporation’s Annual Report on Form 10-K for the year ended December 31, 2023, as updated in the Corporation’s subsequent Quarterly Reports on Form 10-Q, and the following, could cause actual results to differ materially from those expressed in, or implied by, such forward-looking statements: the effect of the current global interest rate environment (including the potential for ongoing reductions in interest rates) and inflation levels on the level, composition and performance of the Corporation’s assets and liabilities, and corresponding effects on the Corporation’s net interest income, net interest margin, loan originations, deposit attrition, overall results of operations, and liquidity position; the effects of changes in the interest rate environment, including any adverse change in the Corporation’s ability to attract and retain clients and gain acceptance from current and prospective customers for new products and services, including those related to the offering of digital banking and financial services; volatility in the financial services industry, which could result in, among other things, bank deposit runoffs, liquidity constraints, and increased regulatory requirements and costs; uncertainty as to the ability of FirstBank to retain its core deposits and generate sufficient cash flow through its wholesale funding sources, which may require us to sell investment securities at a loss; adverse changes in general political and economic conditions in Puerto Rico, the U.S., and the U.S. and British Virgin Islands, including in the interest rate environment, unemployment rates, market liquidity, housing absorption rates, real estate markets and U.S. capital markets; general competitive factors and other market risks as well as the implementation of existent or planned strategic growth opportunities, including risks, uncertainties, and other factors or events related to any business acquisitions, dispositions, strategic partnerships, strategic operational investments including system conversions, and any anticipated efficiencies or other expected results related thereto; uncertainty as to the implementation of the debt restructuring plan of Puerto Rico and the Fiscal Plan for Puerto Rico as certified on June 5, 2024 by the Financial Oversight and Management Board for Puerto Rico, or any revisions to it, on our clients and loan portfolios, and any potential impact from future economic or political developments and tax regulations in Puerto Rico; the impact of government financial assistance for hurricane recovery and other disaster relief on economic activity in Puerto Rico; the timing of sales of properties from our other real estate owned (“OREO”) portfolio; the impacts of applicable legislative, tax or regulatory changes on the Corporation’s financial condition or performance; and the effect of continued changes in the fiscal and monetary policies and regulations of the U.S. federal government (including as a result of the new presidential administration), the Puerto Rico government and other governments. The Corporation does not undertake and specifically disclaims any obligation to update any “forward-looking statements” to reflect occurrences or unanticipated events or circumstances after the date of such statements, except as required by the federal securities laws. Non-GAAP Financial Measures In addition to the Corporation’s financial information presented in accordance with GAAP, management uses certain “non-GAAP” financial measures” within the meaning of Regulation G promulgated by the SEC, to clarify and enhance understanding of past performance and prospects for the future. Please refer to pages 16-18 for a reconciliation of GAAP to non-GAAP measures and calculations.

Agenda 4Q 2024 Quarter Highlights Aurelio Alemán, President and Chief Executive Officer 4Q 2024 Results of Operations Orlando Berges, Executive Vice President and Chief Financial Officer Questions and Answers

Fourth Quarter 2024 Financial Performance Highlights Balance Sheet Strong loan origination activity, other than credit card utilization, of $1.5 billion Total loans grew by 9.7% linked-quarter annualized (“LQA”) to $12.8 billion driven by growth across all loan portfolios and regions Total deposits, other than brokered deposits, grew by $565.8 million to $16.4 billion; brokered deposits decreased by $41.9 million Core deposits, other than brokered and fully collateralized government deposits, grew by $197.9 million reaching $12.9 billion Non-performing assets ("NPA”) decreased by $0.8 million to $118.3 million; NPAs represent 0.61% of total assets Allowance for credit losses (“ACL”) coverage ratio on loans and leases decreased by 7 basis points to 1.91% Asset Quality Total available liquidity sources of approximately $5.9 billion or 1.2x of uninsured deposits Returned over 100% of quarterly earnings through capital deployment actions while maintaining a strong capital position with a Common Equity Tier-1 ratio of 16.3% On a non-GAAP basis, tangible book value per share and tangible common equity ratio were $9.91 and 8.4%, respectively Liquidity and Capital Profitability Net income of $75.7 million ($0.46 per diluted share), compared to $73.7 million ($0.45 per diluted share) in 3Q 2024 Solid return on average assets (“ROAA”) of 1.56%, compared to 1.55% in 3Q 2024; margin up 8 bps to 4.33% On a non-GAAP basis, adjusted pre-tax, pre-provision income grew by $5.3 million or 4.7% sequentially to $116.9 million Sustained expense management discipline resulting in efficiency ratio of 51.6% compared to 52.4% in 3Q 2024

Full Year 2024 – Delivering Strong Financial Results and Organic Growth ROAA: 1.58% Adj. ROACE(1): 13.8% 1 CET1 Ratio:16.3% ACL Coverage: 1.9% 2 16% Growth in Tangible Book Value 3 2024 Franchise Highlights Grew loans by $569 million or 4.7% and core deposits by $267 million or 2.1%, while safeguarding asset quality and sustaining strong profitability profile Delivered over 100% of annual earnings in the form of capital deployment actions for the fourth consecutive year Advanced the evolution of IT infrastructure and digital capabilities to simplify operations and support further business growth (i.e., nCino/Salesforce partnership, cloud migration, etc.) Promoted digital adoption with retail digital banking active users up 3.8% vs. prior year Made progress on commitment to the communities we serve by the successful launch of the “Rescue Our Coasts” environmental initiative Facilitated the development of affordable housing projects and supported multiple reconstruction efforts to modernize critical infrastructure in main market PR Economic Activity Index (EAI)(2) 1Q20 2Q20 4Q21 4Q22 4Q23 1Q24 2Q24 3Q24 YoY Change PR Payroll Employment (Thousands) 1Q20 2Q20 4Q21 4Q22 4Q23 1Q24 2Q24 3Q24 4Q24 Unemployment Rate (SA) 2022 2023 2024 $3,191 $4,095 $4,525 $3,164(70%) $1,126(25%) $234(5%) FEMA HUD (CDBG) Other PR Disaster Relief Funds Disbursed Per Year(3) 2025 Outlook and Priorities Positive economic backdrop on the back of an improving labor market and reconstruction efforts Remain focused on delivering mid-single digit organic loan growth, sustaining a 52% efficiency ratio, and returning close to 100% of earnings back to shareholders Grow core deposit market share by expanding presence in main market and proactively manage credit quality, particularly in the consumer lending business (1) Non-GAAP financial measure. Please refer to the calculation and management’s reason for using this measure on slide 18 titled “Fourth Quarter 2024 - Use of Non-GAAP Financial Measures.” (2) Puerto Rico Economic Development Bank (EDB). (3) www.recovery.pr.gov and Recovery Support Function Leadership Group (RSFLG) - https://recovery.fema.gov/rsflg-monthly-data. | YTD disbursements through November of each year Nov. YTD Disbursements ($ millions) 2024 Highlights and Strategic Priorities for 2025 Positive Economic Backdrop

Results of Operations

Fourth Quarter 2024 Discussion of Results 4Q24 Adjusted Tangible Common Equity Ratio 4Q24 Adjusted Tangible Book Value per Share 4Q24 Adjusted ROACE 4Q24 TCE Ratio AOCL Impact Adj. TCE Ratio 4Q24 TBVPS AOCL Impact Adj. TBVPS 4Q24 ROACE AOCL Impact Adj. ROACE (1) Non-GAAP financial measures. Please refer to the calculation and management’s reason for using these measures on slides 17 and 18 titled “Fourth Quarter 2024 - Use of Non-GAAP Financial Measures.” Income Statement and Selected Financial Data Non-GAAP Reconciliation – Selected Data(1)

Fourth Quarter 2024 Profitability Dynamics Net Interest Income ($MM) 4.14% 4Q23 4.16% 1Q24 4.22% 2Q24 4.25% 3Q24 4.33% 3Q24 Net Interest Income ($) Net Interest Margin (GAAP %) Net interest income amounted to $209.3 million, an increase of $7.2 million vs. the prior quarter, mainly reflecting: A $5.0 million increase in interest income due to higher average cash and loan balances coupled with higher interest income from debt securities at improved yields A $2.2 million decrease in interest expense related to lower balances of junior subordinated debentures and brokered CDs, and lower rates paid on new issuances and renewals of time deposits, partially offset by an increase in interest expense due to higher average interest-bearing non-maturity deposit balances Net interest margin increased during the quarter by 8 bps to 4.33%, mostly reflecting a change in asset mix resulting from the deployment of cash flows from lower yielding securities to fund loan growth and purchases of higher yielding securities, while simultaneously repaying higher rate brokered CDs and redeeming the junior subordinated debentures Key Highlights Evolution of Loan Yields and Cost of Funds(1) (1) Cost of funds include cost of all interest-bearing deposits, non-interest-bearing deposits, and wholesale funding 4Q23 1Q24 2Q24 3Q24 4Q24 6.13% 6.11% 6.15% 6.14% 6.10% Loan Yields Cost of Funds

Fourth Quarter 2024 Profitability Dynamics Non-Interest Expenses ($MM) Non-Interest Income ($MM) -20 0 80 100 120 140 -$0.1 $71.1 4Q23 -$0.1 $61.5 1Q24 3Q24 $64.5 $122.9 -$0.7 $124.5 4Q24 2Q24 $65.0 $126.6 $63.7 -$0.1 $120.9 -$2.5 $118.7 Credit Related Payroll Related Other Operating Expenses $2.1 4Q23 1Q24 2Q24 3Q24 4Q24 $33.6 $34.0 $32.0 $32.5 $32.2 Other Mortgage Banking Service Charges on Deposits Non-interest expenses of $124.5 million, up $1.6 million vs. prior quarter mainly due to: A $1.2 million increase in business promotion expenses due to seasonal events and campaign efforts, a $0.6 million increase in payroll expenses, a $0.3 million increase mainly related to a branch closure in Puerto Rico, and a $0.3 million decrease in OREO gains due to write-down lower of commercial property and lower rental income Partially offset by a $0.7 million decrease in professional fees due to less IT-related consulting fees and a $0.4 million decrease in other expenses Efficiency ratio was 51.6% compared to 52.4% in the prior quarter Key Highlights Key Highlights Non-interest income of $32.2 million, compared to $32.5 million in prior quarter; the $0.3 million decrease includes: A $0.7 million decrease in insurance income related to less production of insurance policies during the quarter Partially offset by a $0.4 increase in card and processing income due to credit card incentives recognized during the quarter

Fourth Quarter 2024 Asset Quality Non-Performing Assets ($MM) Reduction in NPAs was primarily driven by a $1.8 million decrease in nonaccrual commercial and construction loans due to repayments and charge-offs Inflows to nonaccrual loans held for investment were $37.1 million, a decrease of $1.6 million when compared to the prior quarter, related to decreases in loan inflows of approximately $2.0 million in consumer and residential loans, partially offset by a $0.4 million increase in inflows of commercial and construction loans Loans in early delinquency (i.e., 30-89 days past due accruing loans) amounted to $153.0 million, an increase of $9.6 million vs. 3Q 2024, mostly related to a $14.1 million increase in consumer loans, mainly in the auto loans and finance leases portfolio, partially offset by a decrease of $5.4 million in commercial loans Total non-performing assets decreased by $0.8 million to $118.3 million or 0.61% of total assets 0.67% 4Q23 0.69% 1Q24 0.67% 2Q24 $89 0.63% 3Q24 $126 $130 $127 $119 4Q24 $118 $87 0.61% Repossessed Assets and Other Loans HFI NPAs/Assets $2 4Q23 $1 1Q24 $5 2Q24 $4 3Q24 $126 $130 $127 $119 4Q24 $118 $1 Repossessed Assets and Other Consumer Residential Construction Commercial

Fourth Quarter 2024 ACL and Capital Total stockholders’ equity amounted to $1.7 billion, a decrease of $31.6 million vs. the prior quarter, driven by an $82.3 million decrease in the fair value of available-for-sale debt securities due to changes in market rates recognized as part of accumulated other comprehensive loss and the $26.3 million in cash dividends declared during the quarter Partially offset by earnings generated during the quarter All regulatory ratios remain significantly above “well-capitalized” levels Evolution of ACL ($MM) and ACL on Loans to Total Loans (%) Capital Ratios (%) The allowance for credit losses (ACL) on loans and leases was $243.9 million, down $3.1 million when compared to the prior quarter; the ratio of the ACL on loans and finance leases to total loans held for investment decreased to 1.91% Reduction driven by decrease of $4.1 million in the commercial ACL mainly due to improved macroeconomic variables and improved financial condition of certain borrowers, partially offset by loan growth and a $1.0 million increase in the consumer ACL due to loan growth and higher charge-offs/delinquency levels Net charge offs of $24.6 million (0.78% of average loans), flat vs. 3Q mostly related to increase in consumer charge-offs offset by decrease in commercial charge-offs Key Highlights Key Highlights $0.0 $0.0 1.72% 2019 $8.0 2.61% Day-1 CECL $4.6 $2.7 2.15% 4Q23 $3.5 $1.6 1.98% 3Q24 $3.1 $1.3 1.91% 4Q24 $155.0 $248.0 $269.2 $252.1 $248.4 Off-BS Credit Exposure Debt Securities Loans ACL on Loans/Loans 16.1 4Q23 15.9 1Q24 15.8 3Q24 4Q24 2Q24 16.2 Total Risk-Based Capital Tier-1 Capital Tier-1 Common Leverage Tangible Common

4Q 2024 Financial Results Appendix and Non-GAAP Financial Measures

Fourth Quarter 2024 Appendix – Balance Sheet Highlights Loan Portfolio - $MM Loan Originations - $MM(1) Total Deposits (excluding Brokered CDs) - $MM Composition of Deposit Portfolio vs. Available Liquidity - $MM(2) $7 $215 4Q23 $12 $237 1Q24 $10 $186 2Q24 $13 $207 3Q24 $15 $228 4Q24 Loans HFS Commercial Consumer Construction Residential $12,193 $12,324 $12,396 $12,459 $12,762 $102 $26 4Q23 $47 1Q24 $122 $48 2Q24 $117 $45 3Q24 $134 $60 4Q24 Consumer Credit Cards Residential Construction Commercial $1,427 $1,201 $1,260 $1,303 $1,655 4Q23 1Q24 2Q24 3Q24 4Q24 Public Funds CDs & IRAs Commercial Retail $15,773 $15,820 $15,904 $15,827 $16,393 Loan Originations include refinancing and renewals, as well as credit card utilization activity Uninsured deposits exclude public funds which are fully collateralized $5,548(34%) $10,846(66%) 2Q24 NIB IB $16,393 $8,055(49%) $4,813(29%) $3,525(22%) Insured Uninsured Public Funds Uninsured Deposits Available Liquidity $5,976 Cash & Equivalents Free Liquid Securities FHLB Availability Fed Line Commercial Loan Portfolio Distribution - $MM $2,566(43%) $3,366(57%) 4Q24 CRE C&I $5,932 $3,366(57%) $441(7%) $56(1%) $2,069(35%) C&I Office CRE (PR) Office CRE (US) Other CRE CRE Maturities < 12 Months ($MM) Retail Office Hotel Industrial Other Multifamily $243 $138 6.5% 6.5% 7.4% 5.4% 5.8% 7.0% Weighted Avg. Rate

Fourth Quarter 2024 Appendix - Puerto Rico Government Exposure Government Loans Key Highlights Government Deposits Key Highlights As of 4Q 2024, the Corporation had $288.6 million of direct exposure and $59.2 million of indirect exposure to the Puerto Rico government, its municipalities and public corporations 86% of direct government exposure is to municipalities in Puerto Rico, which are supported by assigned property tax revenues or by one or more specific sources of municipal revenues As of 4Q 2024, the Corporation had $3.1 billion of public sector deposits in Puerto Rico, compared to $2.7 billion in 3Q 2024 Approximately 17% were from municipalities and municipal agencies in Puerto Rico and 83% were from public corporations, the Puerto Rico central government and agencies, and U.S. federal government agencies in Puerto Rico

Fourth Quarter 2024 Appendix - NPL Migration

Fourth Quarter 2024 Appendix - Use of Non-GAAP Financial Measures Basis of Presentation: Use of Non-GAAP Financial Measures This presentation contains non-GAAP financial measures. Non-GAAP financial measures are used when management believes that the presentation of these non-GAAP financial measures enhances the ability of analysts and investors to analyze trends in the Corporation’s business and understand the performance of the Corporation. Where non-GAAP financial measures are used, the most comparable GAAP financial measure, as well as the reconciliation of the non-GAAP financial measure to the most comparable GAAP financial measure, can be found in the text or in the attached tables to this earnings presentation. Any analysis of these non-GAAP financial measures should be used only in conjunction with results presented in accordance with GAAP. Tangible Common Equity Ratio and Tangible Book Value per Common Share The tangible common equity ratio and tangible book value per common share are non-GAAP financial measures that management believes are generally used by the financial community to evaluate capital adequacy. Tangible common equity is total common equity less goodwill and other intangibles. Tangible assets are total assets less goodwill and other intangibles. Management and many stock analysts use the tangible common equity ratio and tangible book value per common share in conjunction with more traditional bank capital ratios to compare the capital adequacy of banking organizations with significant amounts of goodwill or other intangible assets, typically stemming from the use of the purchase method of accounting for mergers and acquisitions. Accordingly, the Corporation believes that disclosure of these financial measures may be useful to investors. Neither tangible common equity nor tangible assets, or the related measures, should be considered in isolation or as a substitute for stockholders’ equity, total assets, or any other measure calculated in accordance with GAAP. Moreover, the way the Corporation calculates its tangible common equity, tangible assets, and any other related measures may differ from that of other companies reporting measures with similar names.

Fourth Quarter 2024 Appendix - Use of Non-GAAP Financial Measures Basis of Presentation: Use of Non-GAAP Financial Measures This presentation contains non-GAAP financial measures. Non-GAAP financial measures are used when management believes that the presentation of these non-GAAP financial measures enhances the ability of analysts and investors to analyze trends in the Corporation’s business and understand the performance of the Corporation. Where non-GAAP financial measures are used, the most comparable GAAP financial measure, as well as the reconciliation of the non-GAAP financial measure to the most comparable GAAP financial measure, can be found in the text or in the attached tables to this earnings presentation. Any analysis of these non-GAAP financial measures should be used only in conjunction with results presented in accordance with GAAP. Adjusted Pre-Tax, Pre-Provision Income Adjusted pre-tax, pre-provision income is a non-GAAP performance metric that management uses and believes that investors may find useful in analyzing underlying performance trends, particularly in times of economic stress, including as a result of natural catastrophes or health epidemies. Adjusted pre-tax, pre-provision income, as defined by management, represents income before income taxes adjusted to exclude the provision for credit losses expense, as well as certain items that management believes are not reflective of core operating performance.

Fourth Quarter 2024 Appendix - Use of Non-GAAP Financial Measures Basis of Presentation: Use of Non-GAAP Financial Measures This presentation contains non-GAAP financial measures. Non-GAAP financial measures are used when management believes that the presentation of these non-GAAP financial measures enhances the ability of analysts and investors to analyze trends in the Corporation’s business and understand the performance of the Corporation. Where non-GAAP financial measures are used, the most comparable GAAP financial measure, as well as the reconciliation of the non-GAAP financial measure to the most comparable GAAP financial measure, can be found in the text or in the attached tables to this earnings presentation. Any analysis of these non-GAAP financial measures should be used only in conjunction with results presented in accordance with GAAP. Adjusted Tangible Common Equity Ratio Adjusted tangible common equity, which is total common equity less goodwill and other intangibles, after exclusion of net unrealized losses on available-for-sale debt securities recognized as part of accumulated other comprehensive loss, divided by adjusted tangible assets, which are total assets less goodwill and other intangible assets, after exclusion of the net unrealized losses on available-for- sale debt securities. Adjusted Tangible Book Value Per Share Adjusted tangible common equity, which is total common equity less goodwill and other intangibles, after exclusion of net unrealized losses on available-for-sale debt securities recognized as part of accumulated other comprehensive loss, divided by common shares outstanding. Adjusted Return on Average Common Equity Ratio Net income divided by adjusted average common equity, which is average total common equity, after exclusion of average net unrealized losses on available-for-sale debt securities recognized as part of accumulated other comprehensive loss.