a2025ibcannualshareholde

April 22, 2025 2025 Annual Shareholder Meeting Independent Bank Corporation

2Cautionary note regarding forward-looking statements This presentation contains forward-looking statements, which are any statements or information that are not historical facts. These forward-looking statements include statements about our anticipated future revenue and expenses and our future plans and prospects. Forward-looking statements involve inherent risks and uncertainties, and important factors could cause actual results to differ materially from those anticipated. For example, deterioration in general business and economic conditions or turbulence in domestic or global financial markets could adversely affect our revenues and the values of our assets and liabilities, reduce the availability of funding to us, lead to a tightening of credit, and increase stock price volatility. Our results could also be adversely affected by changes in interest rates; increases in unemployment rates; deterioration in the credit quality of our loan portfolios or in the value of the collateral securing those loans; deterioration in the value of our investment securities; legal and regulatory developments; changes in customer behavior and preferences; breaches in data security; and management’s ability to effectively manage the multitude of risks facing our business. Key risk factors that could affect our future results are described in more detail in our Annual Report on Form 10-K for the year ended December 31, 2024 and the other reports we file with the SEC, including under the heading “Risk Factors.” Investors should not place undue reliance on forward-looking statements as a prediction of our future results. Any forward-looking statement speaks only as of the date on which it is made, and we undertake no obligation to update any forward-looking statement, whether as a result of new information, future events, or otherwise.

3Today’s Agenda • Welcome and Call to Order – IBC Chairman • Voting upon matters listed in the Company’s 2025 Proxy Statement – IBC Chairman • Business Update - IBC President & CEO • Question and answer session – IBC President & CEO and IBC EVP & CFO • Adjournment

4IBC Board of Directors • Director Since: 2013 • President & CEO of IBC and Independent Bank • Director Since: 2019 • Founder & CEO of OpTech, LLC and OpTech Solutions • Member of the Audit Committee • Director Since: 2016 • CEO and Chair of the Board of Directors of Cascade Engineering Family of Companies • Member of the Compensation Committee • Director Since: 2004 • Chairman of the Board • Former President, Global Operations of Wolverine Worldwide (NYSE: WWW) • Member of the Compensation Committee • Director Since: 2017 • Former President of Foremost Insurance Company • Chair of the Audit Committee • Director Since: 2005 • Former CEO of IBC and Independent Bank • Director Since: 2015 • Former President & CEO of Priority Health • Chair of the Compensation Committee • Director Since: 2012 • Founder and President of Grey Dunes • Chair of the Governance and the Nominating Committees • Director Since: 2018 • Former Director of Traverse City State Bank • Self-employed • Member of the Governance and the Nominating Committees • Director Since: 2020 • CEO of Ignition Media Group and President of Archer Corporate Services • Member of the Audit Committee and the Governance and the Nominating Committees Michael J. Cok Stephen L. Gulis Jr. Christina L. Keller William B. Kessel Ronia F. Kruse Michael M. Magee Jr. Dennis W. Archer Jr. Terance L. Beia William J. Boer Joan A. Budden

5IBC Executive Management Team • CEO of IBC and Independent Bank since 2013 • Joined Independent Bank in 1994 • Began career with Crowe William B. Kessel President, CEO & Director • Joined Independent Bank in 2020 as EVP and Chief Financial Officer • Previously SVP, Chief Financial Officer of STAR Financial Corporation • 18 years of experience in financial management Gavin A. Mohr EVP, Chief Financial Officer • EVP and Chief Risk Officer since 2012 • Joined the Company in April 2007 as EVP – Commercial • Previous experience with Comerica for 25 years Stephanie M. Kimball EVP, Chief Risk Officer • Joined Independent Bank in 2018 as Senior Vice President Commercial Banking • 33 years experience in Commercial Banking • Previously Regional President of West Michigan at Chemical Bank Joel F. Rahn EVP, Commercial Banking • Responsible for Retail Banking as well as digital banking strategy • Joined Independent Bank over 20 years ago • Previous experience in commercial and retail bank management Larry R. “Russ” Daniel EVP, Retail Banking • Joined Independent Bank in 2016 as Senior Vice President Mortgage Banking • 28 years experience in the mortgage area • Previous experience with Talmer Bank, TCF Bank, and Standard Federal Bank Patrick J. Ervin EVP, Mortgage Banking

62025 Annual Meeting of Shareholders • Secretary for the meeting (Gavin A. Mohr) • Record date: February 21, 2025 • Approximate distribution date of Proxy Statement: March 7, 2025 • Shares entitled to vote: 21,140,812 • Determination of quorum • Voting on proposals

7Proposal #1 - Election of Directors Nominees for a three-year term expiring 2028 William J. Boer Joan A. Budden Michael J. CokDennis W. Archer Jr.

8Proposal #2 - Ratification of the Appointment of Independent Auditors • Crowe, LLP has served as IBC’s independent registered public accounting firm since 2005. • Crowe, LLP was founded in 1942 and is one of the 10 largest accounting and consulting firms in the U.S. • IBC is served primarily by Crowe’s Grand Rapids, Michigan office.

9Proposal #3 - Advisory (Non-Binding) Vote on Executive Compensation The Board has solicited a non-binding advisory vote from our shareholders to approve the compensation of our executives as described in our proxy materials.

10 Brad Kessel President & CEO Business Update

122024 Full Year Financial Highlights • Net income and diluted earnings per share of $66.8 million and $3.16 • Annualized return on average assets and on average equity of 1.3% and 15.7%, compared to 1.2% and 16.0% respectively in the prior year • Paid cash dividends of $0.96 per share, a 5% increase over prior year • Increase in tangible book value per share of $2.37 or 13.2% • Returned 30.4% of 2024 earnings to shareholders through dividends

13Track Record of Consistent Growth & Profitability BALANCE SHEET 2019 2020 2021 2022 2023 2024 5-Year CAGR Total Assets $3,565 $4,204 $4,705 $5,000 $5,264 $5,338 8.4% Portfolio Loans $2,725 $2,734 $2,905 $3,465 $3,791 $4,039 8.2% Deposits $3,037 $3,637 $4,117 $4,379 $4,623 $4,654 8.9% Tangible Common Equity $317 $357 $367 $317 $374 $425 6.1% PROFITABILITY Pre-Tax, Pre-Provision Income $58.6 $81.9 $75.4 $83.1 $79.9 $87.5 8.4% Pre-Tax, Pre-Prov / Avg. Assets 1.70% 2.08% 1.62% 1.72% 1.56% 1.77% - Net Income(1) $46.4 $56.2 $62.9 $63.4 $59.1 $66.8 7.5% Diluted EPS $2.00 $2.53 $2.88 $2.97 $2.79 $3.16 9.6% Return on Average Assets(1) 1.35% 1.43% 1.41% 1.31% 1.15% 1.27% - Return on Average Equity(1) 13.63% 15.68% 16.13% 18.41% 16.04% 15.70% - Net Interest Margin (FTE) 3.80% 3.34% 3.10% 3.32% 3.26% 3.38% - Efficiency Ratio 64.90% 59.24% 62.87% 59.71% 60.76% 60.80% - SHAREHOLDER VALUE TBV/Share $ 14.08 $ 16.33 $ 17.33 $ 15.04 $ 17.96 $ 20.33 7.6% Dividends Paid per Share $ 0.72 $ 0.80 $ 0.84 $ 0.88 $ 0.92 $ 0.96 5.9% Value of Shares Repurchased $ 26.3 $ 14.2 $ 17.3 $ 4.0 $ 5.2 $ - - For the year ended December 31, ($M except per share data)

14Strong Balance Sheet and Liquidity • Loan growth of $247.9 million, a 6.5% increase from the prior year • Commercial loan growth of $257.6 million (15.3%) • Mortgage loan growth of $30.9 million (2.1%) • Consumer loans decreased $40.6 million (6.5%) • Deposit growth (excluding brokered time deposits) of $206.1 million (4.8%) • Loan to deposit ratio of 86.8% • Uninsured deposits are approximately 23.3% of total deposits, excluding brokered time deposits.

15Strong Credit Quality For the year ended December 31, ($M except per share data) Asset Quality: 2019 2020 2021 2022 2023 2024 NPAs / Assets 0.32% 0.21% 0.11% 0.08% 0.11% 0.13% NPAs / Loans + OREO 0.42% 0.32% 0.18% 0.12% 0.15% 0.17% Reserves / Total Loans 0.96% 1.30% 1.63% 1.51% 1.44% 1.47% NCOs / Avg. Loans (0.02%) 0.11% (0.07%) 0.00% 0.03% 0.02%

16Strong Capital Position TCE / TA (%) Leverage Ratio (%) CET1 Ratio (%) Total RBC Ratio (%) Tier 1 Capital Ratio (%) 9.2 9.0 8.6 7.9 6.4 7.2 8.0 0 5 10 15 2018 2019 2020 2021 2022 2023 2024 10.5 10.1 9.2 8.8 8.9 9.0 9.9 0 5 10 15 2018 2019 2020 2021 2022 2023 2024 11.8 11.4 12.0 11.0 10.4 10.6 11.2 0 5 10 15 2018 2019 2020 2021 2022 2023 2024 13.3 12.7 13.3 12.1 11.4 11.5 12.1 0 5 10 15 2018 2019 2020 2021 2022 2023 2024 14.3 13.7 16.0 14.5 13.6 13.7 14.2 0 2 4 6 8 10 12 14 16 18 2018 2019 2020 2021 2022 2023 2024

17 SM-All Star for 2025 Recognized For Our Efforts

18A Look Forward

19Independent Bank Corporation Voting Results • Shares entitled to vote: 21,140,812 • Proposal #1 – Election of Directors • Proposal #2 – Ratification of Auditors • Proposal #3 – Advisory (Non-Binding) Vote on Executive Compensation 2025 Annual Shareholders Meeting

20 Thank you for attending!

21 Appendix

22Reconciliation of Non-GAAP Financial Measures 2024 2023 2022 2021 2020 2019 Net interest income $166,248 $ 156,329 $ 149,561 $ 129,765 $ 123,612 $ 122,581 Non-interest income 56,362 50,676 61,909 76,643 80,745 47,736 Non-interest expense 135,096 127,119 128,341 131,023 122,413 111,733 Pre-Tax, Pre-Provision Income 87,514 79,886 83,129 75,385 81,944 58,584 Provision for credit losses 4,468 6,210 5,341 (1,928) 12,463 824 Income tax expense 16,256 14,609 14,437 14,418 13,329 11,325 Net income $66,790 $ 59,067 $ 63,351 $ 62,895 $ 56,152 $ 46,435 Average total assets $5,239,952 5,115,624$ 4,825,723$ 4,465,577$ 3,933,655$ 3,440,232$ Performance Ratios Return on average assets 1.27% 1.15% 1.31% 1.41% 1.43% 1.35% Pre-tax, Provision return on average assets 1.67% 1.56% 1.72% 1.69% 2.08% 1.70% Year Ended December 31, (Dollars in thousands)

23 Reconciliation of Non-GAAP Financial Measures Reconciliation of Non-GAAP Financial Measures 2024 2023 2022 2021 2020 2019 Net Interest Margin, Fully Taxable Equivalent ("FTE") Net interest income 166,248$ 156,329$ 149,561$ 129,765$ 123,612$ 122,581$ Add: taxable equivalent adjustment 902 900 1,878 1,866 823 423 Net interest income - taxable equivalent 167,150$ 157,229$ 151,439$ 131,631$ 124,435$ 123,004$ Net interest margin (GAAP) 3.36% 3.24% 3.28% 3.05% 3.32% 3.79% Net interest margin (FTE) 3.38% 3.26% 3.32% 3.10% 3.34% 3.80% Year Ended December 31, (Dollars in thousands)

24Reconciliation of Non-GAAP Financial Measures Reconciliation of Non-GAAP Financial Measures (continued) Independent Bank Corporation Tangible Common Equity 2024 2023 2022 2021 2020 2019 Common shareholders' equity 454,686$ 404,449$ 347,596$ 398,484$ 389,522$ 350,169$ Less: Goodwill 28,300 28,300 28,300 28,300 28,300 28,300 Other intangibles 1,488 2,004 2,551 3,336 4,306 5,326 Tangible common equity 424,898$ 374,145$ 316,745$ 366,848$ 356,916$ 316,543$ (Dollars in thousands) Year Ended December 31,