Umpqua Holdings Corporation 3rd Quarter 2020 Earnings Conference Call Presentation October 22nd, 2020

Forward-looking Statements This press release includes forward-looking statements within the meaning of the “Safe-Harbor” provisions of the Private Securities Litigation Reform Act of 1995, which management believes are a benefit to shareholders. These statements are necessarily subject to risk and uncertainty and actual results could differ materially due to various risk factors, including those set forth from time to time in our filings with the SEC. You should not place undue reliance on forward- looking statements and we undertake no obligation to update any such statements. Forward-looking statements can be identified by words such as “anticipates,” “intends,” “plans,” “seeks,” “believes,” “estimates,” “expects,” “target,” “projects,” “outlook,” “forecast,” “will,” “may,” “could,” “should,” “can” and similar references to future periods. In this press release we make forward-looking statements about the projected impact on our business operations of the COVID-19 global pandemic. Risks that could cause results to differ from forward-looking statements we make are set forth in our filings with the SEC and include, without limitation: current and future economic and market conditions, including the effects of declines in housing and commercial real estate prices, high unemployment rates, and any slowdown in economic growth particularly in the western United States; the effect of the COVID-19 pandemic, including on our credit quality, deferral programs, and business operations, as well as its impact on general economic and financial market conditions; economic forecast variables that are either materially worse or better than end of quarter projections and deterioration in the economy that exceeds current consensus estimates; our ability to effectively manage problem credits; our ability to successfully implement efficiency and operational excellence initiatives; our ability to successfully develop and market new products and technology; and changes in laws or regulations. We also caution that the amount and timing of any future common stock dividends or repurchases will depend on the earnings, cash requirements and financial condition of the Company, market conditions, capital requirements, applicable law and regulations (including federal securities laws and federal banking regulations), and other factors deemed relevant by the Company’s Board of Directors, and may be subject to regulatory approval or conditions.

Introducing Next Gen 2.0 Continuing to modernize the bank, advance technology initiatives, and improve operating leverage.

Next Gen 2.0 – Balanced Growth Business Line Alignment To Unlock Future Growth: • Targeting 8-12% growth (excluding PPP) in C&I and OOCRE balances by end of 2022 Small Business Banking BusinessBusiness & Commercial & Community Banking Banking Corporate Banking Continue to serve via stores with assistance Personalization approach while leveraging Added over 30 FTE in the past two years specific from digital tools such as mobile banking technology with business online banking to supporting our growth in full middle market enhancements, Go To for businesses, and upgrades, scoring model enhancements, and relationships that come with associated deposit automating credit requests. product bundle enhancements and treasury management opportunities. Fee Based Product Enhancements: • Executing on a product roadmap to match much larger peers including adding integrated payments, implementing integrated receivables, and enhancing our merchant services offering with a strategic partnership. Home Lending: •Aligned production goals to drive a higher share of production (75%-80%) in our saleable, agency products. • Added resources to sustain excellent service levels and meet volume demands. 4

Next Gen 2.0 – Technology Initiatives Agile – the agile method Open API ecosystem – enables Strategic Partnerships – our of development allows us to partner, seek new relationships with Microsoft, us a faster speed of revenue opportunities, and Docusign, nCino, Snowflake, delivery and ability to allows us to develop and MineralTree allow us to iterate on customer personalized experiences for leverage technology expertise WaysWork We feedback quickly. our customers. quickly and efficiently. nCino - Implementing Cloud first strategy – our Data & Analytics - Umpqua Umpqua Go-To™ For industry leading cloud first strategy Smart Leads and Credit Business – in order to serve commercial loan enables us to reduce Insights uses transactional our business relationships we origination and treasury physical footprint and data, analytics, and custom are evolving Go-To™ so Key Initiatives Key management costs of traditional data algorithms to provide customers can be served by onboarding system in centers and provides us bankers with next best offer teams of bankers through this 2021 the opportunity to be leads and assists in risk digital platform scalable at will. management activities. 5

NextGen 2.0: Operational Efficiency Initiatives The following initiatives will be completed over a two-year period (2021-2022) and have full NIE realization by 2023. 1) Sale of Umpqua Investments 2) Store Consolidations • Sale to strategic partner with referral • 30-50 store reduction over two-year period partnership structure being finalized • 7 stores completed by YE 2020 • Target store count by beginning of 2023: 180 - 200 3) Facility Rationalization 4) Additional Back-Office Simplification • Utilize remote work adoption to reduce • $10-$15mm opportunity back office square footage • Includes automating manual processes, aligning • 50% reduction in back office sq. teams of like functions, and exiting small/niche footage (2023 target) business lines Operating Efficiency NIE Impact Ratio Impact 1) Sale of Umpqua Investments $12 - $14mm (2.0% – 3.0%) 2) Store Consolidations $12 - $20mm (1.1% - 1.9%) 3) Facilities Rationalizations $5 - $7mm (0.5% - 0.7%) 4) Additional Back-Office $10 - $15mm (0.9% - 1.4%) Simplification Totals $39mm - $56mm (4.5% - 7.0%) 6 Projected Realized Savings: 50% in 2021, 70% in 2022, 100% in 2023

Q3 Earnings Presentation

COVID-19 Response – Loan Deferrals Summary of Current Deferrals (as of 10/15/2020): Deferral Trends (as of 10/15/2020): Balances Accounts $2,000,000 16,000 Current Current $1,800,000 14,000 Current Current Round 1 $1,600,000 Current Round 2 Current 12,000 Round 1 Round 2 Deferrals $1,400,000 Total Deferrals Total (Dollars Deferrals Deferrals (Dollars $1,200,000 10,000 (%) (Dollars and and Counts) (%) (%) and $1,000,000 8,000 Accounts Counts)   Counts) $800,000 6,000 of   $600,000 # 4,000 Balances 1.1% 1.2% 2.3% $247mm $271mm $518mm $400,000 Balances ($s in 000s) $200,000 2,000 Accounts 0.6% 1.1% 1.7% 999 1,861 2,860 $0 0 Current Deferrals¹ Q3 2020 Total Balances Current Deferrals Category ($’s in 000) ($’s in 000’s) (%) Commercial Real Estate $142,710 $10,254,770 1.4% Non-owner CRE $127,498 $3,533,776 3.6% Owner occupied CRE $11,989 $2,411,098 0.5% Multifamily $3,223 $3,389,034 0.1% Construction and Development $- $757,462 N/A Residential Development $- $163,400 N/A Commercial $98,253 $6,637,661 1.5% Term $30,878 $4,246,229 0.7% Commercial LOCs $1,636 $894,782 0.2% Leases & equipment finance (e.g. FinPac) $65,739 $1,496,650 4.4% Residential $272,988 $5,882,886 4.6% Mortgage $260,318 $4,710,189² 5.5% Home equity loans and lines $12,670 $1,172,697 1.1% 8 Consumer & other $3,611 $318,929 1.1% ¹ As of 10/15/2020 ² Includes RRE LHFS

Portfolios of Interest – Potential COVID-19 Impacts Hospitality Air Transportation Oil & Gas Hotels & Motels¹: Air Transportation and Related Oil & Gas including support Companies Supporting Air activities for Oil & Gas Industry³: • $520mm outstanding balance Transportation²: (2.4% of portfolio) • $25k outstanding balance • $113mm outstanding balance (<0.001% of portfolio) • Deferrals: $84mm (16%) currently (0.5% of portfolio) on deferral • No current deferrals in this • No current deferrals in this portfolio • Weighted Avg. LTV: 50% portfolio • Average Loan Size: $5.0k • Avg. Loan Size: $2.3mm • Avg. Loan Size: $3.5mm • Portfolio consists of small • Geographic distribution: 34% • Portfolio consists of scheduled business loans to companies California, 31% Oregon, 23% freight & passenger air identified as support activities for Washington, and 12% Other transportation as well as oil and gas operations such as • Portfolio consists of seasoned companies directly supporting the site development and surveying established operators and 90% of air transportation sector (e.g. services. the portfolio are flagged hotel engine lessors and aircraft properties. lessors) 9 (1) Includes NAICS code of 721110 (2) Includes NAICS codes of 481111, 481112, 481211 (3) Includes NAICS 211111,213112, 213111, 221210, 211112 (4) PPP loans are not included in % of portfolio calculations

Portfolios of Interest – Potential COVID-19 Impacts Restaurants Gaming Restaurants¹: Casinos, Casino Hotels, and Other Gambling • $129mm outstanding balance (0.6% Industries²: of portfolio) • $350mm outstanding balance • Deferrals: $1mm (1%) currently on (1.6% of portfolio) deferral • Deferrals: $49mm (14%) currently on • Avg. Loan Size: $260k deferral • 64% of portfolio is limited service • Avg. Loan Size: $4.8mm restaurants (e.g. fast food) and 26% • Geographic distribution: 38% California, is full-service restaurants. 23% Nevada, 19% Washington, 13% • Geographic distribution: 44% Oregon, and 7% Other California, 32% Oregon, 17% Washington, 5% Nevada, and 2% Other 10 (1) Restaurants segment includes NAICS codes of 722410, 722511, 722513, 722514, 722515 (2) Includes NAICS 721120, 713210, 713290 (3) PPP loans are not included in the % of portfolio calculations

Current Expected Credit Loss (“CECL”) Allowance For Credit Losses ($ in 000’s) Q3 2020 Net Reserve % of loans CECL Notes: Loan Segment 6/30/2020³ 9/30/2020³ and leases Charge-offs build outstanding • Used Moody’s August consensus economic forecast Commercial $60,363 $(1,021) $(2,302) $57,040 1.11% • Key Components of the Moody’s Lease & Equipment Finance $95,193 $(12,360) $26,687 $109,520 7.32% economic forecast include: • US Economy experiences a very CRE $173,737 $61 $(19,275) $154,523 1.51% strong recovery, sustained growth, then slow growth thereafter Residential/Home Equity $42,640 $288 $(6,161) $36,767 0.71% • Includes GDP growth of 6.6% from Consumer $11,340 $(447) $711 $11,604 3.64% Q2 – Q4 2020 • Unemployment rate of 10.7% in Total $383,273¹ $(13,481) $(338) $369,454² 1.65% Q3 2020 with a return to < 5% unemployment by 2024 % of loans and leases 1.69% 1.65% outstanding % of loans and leases 1.85% 1.81% outstanding – ex PPP loans ¹Total includes $26.4 mm for Reserve for Unfunded Commitments included in Other Liabilities on the balance sheet ²Total includes $24.3 mm for Reserve for Unfunded Commitments included in Other Liabilities on the balance sheet 11 ³Totals include an allowance on accrued interest and fees related to loans currently on deferral due to COVID-19

Q3 2020 Highlights (compared to Q2 2020) • Net interest income increased by $4.1 million on a quarter to quarter basis primarily driven by lower costs of interest-bearing deposits. • Provision for credit losses decreased by $87.4 million due to changes in loan portfolio mix and balances as well as the stabilization of credit quality metrics and economic forecasts used in credit models. • Net charge-offs decreased by five basis points to 0.24% of average loans and leases (annualized). • Non-interest income increased by $16.4 million, driven primarily by an increase in net mortgage banking revenue and the sale of three store locations completed during the quarter. • Non-interest expense increased by $8.3 million, primarily due to an increase in group insurance costs, lower deferred origination costs, higher mortgage commissions due to strong mortgage production, and higher other expenses, partially offset by lower FDIC assessment costs. • Non-performing assets to total assets increased two basis points to 0.27% from 0.25%. • Estimated total risk-based capital ratio of 14.9% and estimated Tier 1 common to risk weighted assets ratio of 11.6%. • Paid a quarterly cash dividend of $0.21 per common share on August 31, 2020 to shareholders of record as of August 20, 2020. 12

Selected Ratios For the quarter ended Performance Credit Quality Capital (1) Non-GAAP financial measure. A reconciliation to the comparable GAAP measurement is provided at the end of this slide presentation. (2) Capital ratio estimated for current quarter, pending completion and filing of regulatory reports. 13

Summary Income Statement (in millions) For the quarter ended Q3 2020 Q2 2020 Q1 2020 Q4 2019 Q3 2019 Net interest income before provision $216.6 $212.5 $218.5 $226.8 $229.0 Provision for credit losses (0.3) 87.1 118.1 16.3 23.2 Net interest income after provision 216.9 125.4 100.4 210.6 205.7 Non-interest income 131.9 115.5 40.6 83.7 88.5 Non-interest expense 190.2 181.9 1,962.7 183.4 183.6 Income (loss) before provision for income taxes 158.6 59.0 (1,821.6) 110.9 110.7 Provision for income taxes 33.8 6.1 30.4 27.1 26.2 Net income (loss) 124.9 $52.9 $(1,851.9) $83.8 $84.5 Earnings (loss) per share, diluted $0.57 $0.24 $(8.41) $0.38 $0.38 14 Note: tables may not foot due to rounding.

Net Interest Income (in millions) Reported Net Interest Income (in millions) Base Net Interest Income $240 $240 $229.0 $230 $226.8 $230 $223.2 $218.5 $219.9 $220 $216.6 $220 $214.9 $212.5 $210 $210 $199.0 $200.0 $200 $200 $190 $190 $180 $180 $170 $170 $160 $160 $150 $150 Q3 2019 Q4 2019 Q1 2020 Q2 2020 Q3 2020 Q3 2019 Q4 2019 Q1 2020 Q2 2020 Q3 2020 15

Net Interest Margin Net Interest Margin 4.00% 3.63% 3.51% 3.41% 3.50% 3.54% 3.40% Q3 2019 Q4 2019 Q1 2020 Q2 2020 Q3 2020 3.35% 3.09% 3.08% 3.03% 3.00% 3.00% Reported Net Interest Margin 3.63% 3.51% 3.41% 3.09% 3.08% 2.50% Accretion Related to 2.00% Acquired Loans (0.09)% (0.11%) (0.06%) (0.05%) (0.05%) PPP Accrued 1.50% Interest Dilution ---(0.11%) (0.14%) 1.00% Accretion Related to PPP Processing Fee ---0.10% 0.11% 0.50% Base Net Interest Margin 3.54% 3.40% 3.36% 3.03% 3.00% 0.00% Q3 2019 Q4 2019 Q1 2020 Q2 2020 Q3 2020 Reported Net Interest Margin Base Net Interest Margin NIM – MBS & CMO Premium Amortization & Recapture Details Q3 2019 Q4 2019 Q1 2020 Q2 2020 Q3 2020 MBS & CMO Premium in $ millions (Amortization)/Recapture ($6.6mm) ($6.0mm) ($2.0mm) ($9.0mm) ($7.4mm) Net NIM Impact in basis points (0.11)% (0.09)% (0.03)% (0.13%) (0.10%) Accretive/(Dilutive) 16 Note: tables may not foot due to rounding.

Non-Interest Income Other¹ Net Gain/(Loss) on Investment Securities Gain on loan sales BOLI income Residential mortgage banking revenue, net Brokerage revenue Service charges $155.0 $131.9 $135.0 $115.5 $14.4  $115.0 $3.7  $11.8  $88.5 $3.8  $95.0 $83.7 $16.6  $75.0 $16.7  $4.1  $90.4  $4.0  $83.9  (in millions) $55.0 $47.0  $34.1  $40.7 $35.0 $2.1  $15.6  $4.6  $2.1  $2.1  $4.0  $1.1  $15.0 $0.3  $1.8  $2.1  $17.5  $1.0 $16.7  $22.4 $1.1  $20.4 $2.1  $12.2  $(0.1) $0.7  $(0.5) $1.2  $1.0 ‐$5.0 Q3 2019 Q4 2019 Q1 2020 Q2 2020 Q3 2020 ¹Other Income Detail: $(0.8) $1.8 $(4.6) $5.0 $9.5 $2.6 $6.6 $13.1 $11.1 $(14.3) $4.3 $2.3 $6.9 $8.6 $0.7 $3.3 $2.9 $2.7 (in millions) $3.3 $3.3 $0.7 $0.6 $0.7 $0.7 $0.3 Commercial Product Revenue (Merchant, Card, 17 Commercial Servicing Revenue Loan Related Fees Misc. Income Swap Derivative Gain/(Loss) Swaps, Syndication, International Banking) Note: tables may not foot due to rounding.

Mortgage Banking Closed mortgage volume (In millions) Gain on sale margin $2,500 5.50% $2,102 $2,168 5.13% $2,000 5.00% 4.75% $1,455 $1, 396 $1,401 4.50% $1,500 3.72% $1,826 $1,923 4.00% $1,000 $844 3.43% 3.34% $1,060 $1,148 3.50% $500 $611 3.00% $336 $252 $276 $246 $0 2.50% Q3 2019 Q4 2019 Q1 2020 Q2 2020 Q3 2020 Q3 2019 Q4 2019 Q1 2020 Q2 2020 Q3 2020 Portfolio For Sale Residential mortgage banking revenue summary (in millions) Mortgage Banking Outlook: Q3 2019 Q4 2019 Q1 2020 Q2 2020 Q3 2020 • Mortgage volumes remain elevated due both to Origination and Sale $31.4 $35.4 $39.3 $86.8 $98.7 refinance demand and strong purchase activity. Servicing 11.4 9.0 8.9 8.5 8.8 • Purchase seasonality trends stronger into the fall Change in fair value of MSR asset: than prior years. Changes due to collection/realization of (6.8) (5.2) (5.3) (5.0) (4.9) • Margins still wider than historical norms, due to expected cash flows over time constrained industry capacity, and should narrow Changes due to valuation 11.0 (5.1) (25.4) (6.4) (12.2) over time. inputs or assumptions • Future volumes may damper due to agency Total $47.0 $34.1 $17.5 $83.9 $90.4 refinance fees and housing affordability. 18 Note: tables may not foot due to rounding.

Non-interest Expense Non-interest Expense and Efficiency Ratio Non-interest Expense Bridge (in millions) 756.3% (in millions) $1,962.7 $195.0 110.0% $190.2 $190.0 100.0% $183.6 $183.4 $185.0 $181.9 $177.7 90.0% $180.0 Goodwill Impairment ($1,785) 80.0% $175.0 70.0% $170.0 55.4% 60.0% $165.0 57.8% 59.0% $160.0 54.5% 50.0% $155.0 40.0% Q3 2019 Q4 2019 Q1 2020 Q2 2020 Q3 2020 Non-interest expense Efficiency ratio 19

Selected Balance Sheet (in millions) Q3 2020 Q2 2020 Q1 2020 Q4 2019 Q3 2019 Total assets $29,437.4 $29,645.2 $27,540.4 $28,846.8 $28,930.9 Interest bearing cash and temporary investments 1,849.1 1,853.5 1,251.3 980.2 757.8 Investment securities available for sale, fair value 2,898.7 2,865.7 2,890.5 2,814.7 2,842.1 Loans and leases, gross 22,426.5 22,671.5 21,251.5 21,195.7 21,520.8 Allowance for credit losses on loans and leases (345.0) (356.7) (291.4) (157.6) (156.3) Goodwill and other intangibles, net $17.3 18.6 19.8 1,806.0 1,807.4 Deposits 24,669.8 24,844.4 22,699.4 22,481.5 22,434.7 Securities sold under agreements to repurchase 388.0 398.4 346.2 311.3 296.7 Borrowings 996.5 1,096.6 1,196.6 906.6 1,106.7 Total shareholders' equity 2,610.2 2,538.3 2,507.6 4,313.9 4,289.5 Ratios: Loan to deposit ratio 90.9% 91.3% 93.6% 94.3% 95.9% Book value per common share $11.85 $11.53 $11.39 $19.59 $19.48 Tangible book value per common share¹ $11.77 $11.44 $11.30 $11.39 $11.27 Tangible common equity to tangible assets¹ 8.8% 8.5% 9.0% 9.3% 9.2% 20 (1) Non-GAAP financial measure. A reconciliation to the comparable GAAP measurement is provided in the appendix of this slide presentation.

Loan and Deposit Growth (in billions) Loans and Leases (Gross) As of Sept 30, 2020 $25.0 $22.4 $21.2 1% Non-owner occupied term CRE $20.4 $20.0 $19.0 Owner occupied term CRE 5% $15.3 $16.8 $17.4 16% Multifamily $15.0 18% Commercial construction 11% Residential development Commercial term $10.0 7% $7.7 $6.4 $6.5 $7.2 Commercial lines of credit & other 15% Leases & equipment finance $5.0 4% 19% Mortgage Home equity lines & loans $- 1% 3% 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 Q3 Consumer & other 2020 (in billions) Total Deposits As of Sept 30, 2020 $30.0 $24.7 13% Demand, non-interest $25.0 $22.5 bearing $21.1 $19.9 8% Demand, interest bearing $20.0 $19.0 38% $16.9 $17.7 Money market $15.0 Savings $9.4 $9.2 $9.4 $9.1 29% $10.0 12% Time $5.0 $0.0 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 Q3 21 2020

Loan and Lease Portfolio Repricing Schedule Loan and Lease Portfolio (1) Adjustable Rate Breakout – Q3 2020¹ 100% 11.9% 90% 31.9% 37.4% 36.2% 80% 42.5% 42.3% 41.5% 21.0% 70% 2.7% 60% 32.6% 50% 26.5% 26.5% Libor 6 Month Libor 12 Month 3 Year 5 Year Other 28.8% 29.1% 29.6% 40% 30% Floating Rate Breakout – Q3 2020¹ 20% 0.6% 36.1% 37.3% 28.7% 28.6% 28.8% 10% 29.0% 0% Q3 2019 Q4 2019 Q1 2020 Q2 2020 Q3 2020 Fixed Rate Floating Rate (monthly repricing) Adjustable (> 1 month repricing) 70.5% Loans At Floor: $4.8B (22% of portfolio) in Adjustable and Floating Rate loans were at their respective floor as of Sept. 30, 2020, which is in Prime Libor 1 Month Other addition to the $8.6B (37%) of fixed rate loans.  (1) Includes loans available for sale. 22  Note: totals may not foot due to rounding.

Loan and Lease Portfolio Characteristics Mortgage Owner Occupied CRE . Represents 18% of overall portfolio . Represents 11% of overall portfolio . Total delinquencies of 0.83% Geographic Diversification . Total delinquencies of 0.34% . De minimis < 0.01% annualized net . De minimis < 0.01% annualized net charge-off rate charge-off rate . Average loan size of $466,000 . Average loan size of $890,000 . Average FICO of 757 and LTV of . Average LTV of 55% 65% Other Portland / 12% Vancouver 13% WA, Other Multifamily Non-owner Occupied CRE 6% . Represents 16% of overall portfolio . Represents 15% of overall portfolio . Total delinquencies of 0.60% Southern CA . Total delinquencies of 0.06% OR, Other 18% . Annualized net charge-off rate of . De minimis < 0.01% annualized net 13% charge-off rate 0.00% . Average loan size of $1.6 million . Average loan size of $1.8 million . Average LTV of 52% and DSC of 1.9 . Average LTV of 53% and DSC of 1.6 Puget Sound Northern CA 15% 12% Lease & Equipment Finance (FinPac) Commercial & Industrial Bay Area 11% . Represents 7% of overall portfolio . Represents 23% of overall portfolio . Total delinquencies of 3.65% . Total delinquencies of 0.33% . Annualized net charge-off rate of . Annualized net charge-off rate of 3.28% 0.36% . ~10% average yield . Average loan size of $275,000 . Average loan size of $37,000 Note: Balances and delinquencies as of Sept 30, 2020. Annualized net charge-off rate for Q3 2020. LTV, FICO and Debt Service Coverage (DSC) are based on weighted average for portfolio. LTV for the Mortgage portfolio represents 23 average LTV based on most recent appraisal against updated loan balance. Totals may not foot due to rounding.

Credit Quality Provision Expense1 & Non-Performing Assets To Total Assets Classified Assets $140.0 0.32% 0.35% 1.60% 15.00% $120.0 0.27% 0.30% 1.40% 14.00% 0.25% 0.25% $100.0 1.20% 13.00% 0.23% 0.25% $118.1 12.00% $80.0 1.00% 0.83% 0.88% $87.1 0.77% 0.75% 11.00% 0.20% 0.80% 0.68% $60.0 10.00% 0.60% 0.15% 9.00% $40.0 $23.2 0.40% 8.70% 8.00% $16.3 0.10% 8.60% $20.0 0.20% 8.30% 7.00% RBC Classified Assets / 7.60% $(0.3) Loans Total Classified Loans / $0.0 0.05% 0.00% 7.00% 6.00% Provision ($ in millions) Expense Provision Q3 2019 Q4 2019 Q1 2020 Q2 2020 Q3 2020 Q3 2019 Q4 2019 Q1 2020 Q2 2020 Q3 2020 -$20.0 0.00% assets total to assets Non performing Classified Loans to Total Loans Classified Assets to Risk-Based Capital Provision expense Non Performing Assets To Total Assets Allowance for Credit Losses Net Charge-offs to Average Loans and Leases (annualized) 3.33% $440.0 1.69% 1.80% 3.50% 3.28% 1.65% 3.07% 3.05% $400.0 2.72% 1.60% 3.00% $360.0 1.47% 2.50% $320.0 1.40% $280.0 2.00% 1.20% $240.0 1.50% $200.0 0.75% 0.77% 1.00% $160.0 1.00% 0.34% 0.41% $120.0 0.80% 0.50% 0.28% 0.29% 0.24% ACL ($ in millions) in ($ ACL $80.0 0.14% 0.20% 0.60% 0.00% 0.10% 0.09% 0.02% $40.0 $161.4 $162.7 $312.3 $383.1 $369.4 Q3 2019 Q4 2019 Q1 2020 Q2 2020 Q3 2020 $- 0.40% Q3 2019 Q4 2019 Q1 2020 Q2 2020 Q3 2020 Allowance / Total Loans and Leases Umpqua Bank (ex FinPac) FinPac Umpqua Holdings Consolidated 24 Allowance for credit losses Allowance for credit losses to total loans and leases 1.Current period provision expense includes reserve for unfunded commitments (RUC) and prior period provision expenses have been restated to include reserve as well.

Capital Management • All regulatory capital ratios¹ remained in excess of well-capitalized and internal policy limits • Focused on prudently managing capital • Excess capital at the bank level is approximately $423mm. Holding company ratios are shown below. • Paid a quarterly cash dividend of $0.21 per common share on August 31, 2020 to shareholders of record as of August 20, 2020. 16.0% 14.9% 14.0% 2.9% 11.6% 11.6% 12.0% 1.5% 2.6% 2.6% 10.0% 8.8% 8.6% 10.5% 0.5% 2.0% 8.0% 2.8% 2.1% 8.5% 7.0% 6.0% 1.5% 6.0% 4.0% 5.0% 2.0% 0.0% Tangible Common Tier 1 Leverage Tier 1 Common Risk Based Tier 1 Risk Based Total Risk Based Equity/Tangible Assets Capital Threshold³ In-House Policy Floor "Excess" Capital⁴ 1. Regulatory capital ratios are estimates pending completion and filing of the Company’s regulatory reports. 2. Greater of Regulatory Well Capitalized Threshold or Capital Adequacy Threshold + Capital Conservation Buffer (2.5%) 25 3.“Excess” Capital defined as capital above thresholds defined above internal policy limits

Appendix – Non GAAP Reconciliation

Non-GAAP Reconciliation – Tangible Book Value (In thousands, except per share data) Sep 30, 2020 June 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Total shareholders' equity $2,610,244 $2,538,339 $2,507,611 $4,313,915 $4,289,516 Subtract: Goodwill 2,715 2,715 2,715 1,787,651 1,787,651 Other intangible assets, net 14,606 15,853 17,099 18,346 19,750 Tangible equity - common $2,592,923 $2,519,771 $2,487,797 $2,507,918 $ 2,482,115 Total assets $29,437,441 $29,645,248 $27,540,382 $28,846,809 $28,930,855 Subtract: Goodwill 2,715 2,715 2,715 1,787,651 1,787,651 Other intangible assets, net 14,606 15,853 17,099 18,346 19,750 Tangible assets $29,420,120 $29,626,680 $27,520,568 $27,040,812 $27,123,454 Common shares outstanding at period end 220,222 220,219 220,175 220,229 220,212 Total shareholders' equity to total assets ratio 8.87% 8.56% 9.11% 14.95% 14.83% Tangible common equity ratio 8.81% 8.51% 9.04% 9.27% 9.15% Book value per common share $11.85 $11.53 $11.39 $19.59 $19.48 Tangible book value per common share $11.77 $11.44 $11.30 $11.39 $11.27 27

2020 Community Response & Support COVID 19 Social Justice Wildfires • Active participant in the Paycheck As part of our community support, Umpqua Due to the recent wildfires impacting the west Protection Program (PPP). Complete prioritized strategic investments and coast, we’ve committed $750,000 in PPP details follow on slide #5 which resource allocation to support minority- relief across our footprint, including: owned businesses, which are most show over 16,900 loans produced for • $100,000 in grants for response and $2.0B. vulnerable during the pandemic. This includes: recovery • Transitioned store operations which • $750,000 (Community • $350,000 in EQ2 to has allowed over 94% of stores on Development and EQ2) Investments to support impacted small businesses any given day to remain open Portland CDFIs (MESO, Point West in Oregon and $300,000 in EQ2 to throughout the crisis. CU, Business Impact NW) supporting support small businesses in CA/WA women and minority owned • Working closely with customers who businesses • Activated our 3:1 match program require payment deferrals. Deferral and increased the eligible associate program details follow on slide #9. • Umpqua bankers providing expertise match from $1,000 to $3,000 per through virtual volunteering associate. • Umpqua provided $2 million in support program; Small Business Banker’s through donations to nonprofits hours to MESO and Business Impact • Virtual Volunteerism: Umpqua focused on alleviating the financial NW clients associates are active in every hardships of families and small community impacted by the wildfires businesses impacted by the pandemic. • Providing free space at local volunteering safely where they stores (Clackamas, Rockwood) for can by organizing supply drives, MESO and Hispanic Chamber to sharing critical information, and support their small business clients. donating money, time, talent, space, 28 and resources.

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