Community Financial System (CBU) investor relations material

Investment thesis and business model

• Delivers above-average returns with below-average risk through diversification and low capital intensity.

• 62% of operating revenue comes from noninterest sources, ranking #1 in nonbanking fees among peers.

• Maintains a 74.9% loan/deposit ratio and a 0.12% net charge-off rate, both better than peer medians.

• 33 consecutive years of dividend growth, supporting long-term shareholder value.

Business lines and revenue mix

• Operates four scaled business lines: banking, employee benefit services, insurance, and wealth management.

• Noninterest revenues account for 37% of Q1 2026 total operating revenues, with 73% from non-bank services.

• Employee benefit services and insurance have 10-year revenue CAGRs of 11.7% and 9.2%, respectively.

• Wealth management posted a 7.9% 10-year revenue CAGR and $14.5B in AUMA as of March 2026.

Financial performance and returns

• Q1 2026 GAAP EPS of $1.08, up 16.1% year-over-year; operating net income grew 17.4%.

• Operating revenues grew 9.0% year-over-year in Q1 2026; loan growth was 6.8%.

• Core ROATCE of 23.3% and core ROAA of 1.38%, both above peer medians.

• 36.8% of operating revenues from noninterest sources in Q1 2026.