Umpqua Holdings Corporation 1st Quarter 2021 Earnings Conference Call Presentation April 22, 2021

2 This presentation 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 Next Gen 2.0 initiatives, the timing of the sale of Umpqua Investments, Inc. facilities plans, store consolidations, nCino implementation and impact. 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. Forward-looking Statements

3 Next Gen 2.0 - Initiative Updates Continuing to modernize the bank, advance technology initiatives, and improve operating leverage. Balanced Growth Human Digital Operational Excellence Target: $39-$56mm NIE reduction ◦ 50% realization in 2021, 70% in 2022, and 100% in 2023 Sale of Umpqua Investments: • Sale will close on April 23, 2021. Store Consolidations: • Consolidation of 12 store locations announced in Q1 2021 will be complete by end of Q2 2021. • Total consolidations under Next Gen 2.0 program, including sales from 2H 2020, is now 19. • Targeting total of 30-50 consolidations by year-end 2022 Back Office Facility Consolidations: • Savings achieved on back office consolidations within Next Gen 2.0 program to date total $1.8mm annualized and will be fully realized in 2021. • Addressing next round of back office consolidations to fit new working habits of our associates. Activation of Talent Acquisition Strategy: • 11 strategic hires made so far in 2021 include: ◦ New bankers spread across Middle Market, Community Business, Commercial Real Estate, and Small Business Administration lines of business. Converting New to Bank Paycheck Protection Program (PPP) Customers: • ~5,900 PPP loans were processed for customers new to the bank in first round of PPP. • As of Q1 2021, relationships have been expanded with 2,140 (36%) customers for additional products and services as of Q1 2021. Implemented nCino in Q1 2021: • nCino was utilized to process 2021 PPP requests with greater efficiencies compared to prior year. • Will begin implementing to remainder of the company this year and will begin to capture larger efficiencies. Customers Engaging Via Digital Channels At An Accelerated Pace • Q1 2021 compared to Q1 2020: ◦ 35% more mobile deposit transactions ◦ 76% more Zelle® transactions ◦ 16% more average daily sessions on mobile banking app ◦ Umpqua Bank Go-To® total enrollments over 80,000 and customer messages within platform up 49% Executing on Commercial Roadmap • Launching Integrated Receivables product, adding APIs to our catalog, enhancing Commercial Card solution, and upgrading business online banking experience. 1 2 3

Q1 2021 Highlights & Ratios Q1 2021

5 Gross loan and lease balances increased by $381.5 million, or 2%, primarily due to an increase of commercial real estate balances during the quarter of $92.2 million and an increase in net PPP loan balances of $297.6 million. Q1 2021 Highlights (Compared to Q4 2020) Deposit balances increased by $1.3 billion or 5.1%, primarily attributable to growth in non-interest bearing demand deposits of $867.7 million and growth in money market balances of $380.9 million, partially offset by a decline in time deposits of $373.6 million. Net interest income decreased by $13.5 million, on a quarter to quarter basis primarily driven by $9.3 million of lower PPP income recognized in the quarter. Provision for credit losses decreased by $0.03 million due to offsetting changes in loan portfolio mix and improvement in economic forecasts used in the credit models. Net charge-offs decreased by two basis points to 0.33% of average loans and leases (annualized). Non-interest income decreased by $15.2 million, driven primarily by a decrease in net mortgage banking revenue of $14.0 million compared to the prior period. Non-interest expense decreased by $23.7 million, primarily due to a decrease in salaries and benefits expenses of $8.3 million, a decrease in occupancy and equipment expenses of $7.1 million, and decreases in other expenses of $7.7 million. Non-performing assets to total assets decreased five basis points to 0.19%. Estimated total risk-based capital ratio of 15.9% and estimated Tier 1 common to risk weighted assets ratio of 12.6%. Paid a quarterly cash dividend of $0.21 per common share on February 26, 2021, to shareholders of record as of February 16, 2021.

6 Selected Ratios Footnotes: 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. For the Quarter Ended Q1 2021 Q4 2020 Q3 2020 Q2 2020 Q1 2020 Performance Return on average assets 1.49 % 2.04 % 1.68 % 0.73 % (25.82) % Return on average tangible assets 1.49 % 2.04 % 1.68 % 0.73 % (27.53) % Return on average common equity 16.33 % 22.92 % 19.48 % 8.46 % (174.94) % Return on average tangible common equity 16.43 % 23.07 % 19.62 % 8.53 % (301.30) % Efficiency ratio - consolidated 56.74 % 58.82 % 54.52 % 55.40 % 756.29 % Net interest margin - consolidated 3.18 % 3.35 % 3.08 % 3.09 % 3.41 % Credit Quality Non-performing loans and leases to loans and leases 0.25 % 0.31 % 0.34 % 0.32 % 0.41 % Non-performing assets to total assets 0.19 % 0.24 % 0.27 % 0.25 % 0.32 % Net charge-offs to average loans and leases (annualized) 0.33 % 0.35 % 0.24 % 0.29 % 0.41 % Capital Tangible common equity to tangible assets 1 8.9 % 9.2 % 8.8 % 8.5 % 9.0 % Tier 1 common to risk-weighted asset ratio 2 12.6 % 12.3 % 11.7 % 11.2 % 10.7 % Total risk-based capital ratio 2 15.9 % 15.6 % 15.0 % 14.5 % 13.7 %

Summary Financial Statements & Segment Updates Q1 2021

8 Summary Income Statement Footnotes: Tables may not foot due to rounding (in millions) For the Quarter Ended Q1 2021 Q4 2020 Q3 2020 Q2 2020 Q1 2020 Net interest income before provision $221.4 $234.9 $216.6 $212.5 $218.5 Provision (recapture) for credit losses — — (0.3) 87.1 118.1 Net interest income after provision 221.4 234.9 216.9 125.4 100.5 Non-interest income 108.8 124.0 131.9 115.5 40.6 Non-interest expense 187.6 211.3 190.2 181.9 1,962.7 Income (loss) before provision for income taxes 142.6 147.5 158.6 59.0 (1,821.6) Provision (benefit) for income taxes 34.9 (3.2) 33.8 6.1 30.4 Net income (loss) $107.7 $150.7 $124.9 $52.9 ($1,851.9) Earnings (loss) per share, diluted $0.49 $0.68 $0.57 $0.24 ($8.41)

9 Selected Balance Sheet Footnotes: Tables may not foot due to rounding 1. Non-GAAP financial measure. A reconciliation to the comparable GAAP measurement is provided in the appendix of this slide presentation. (in millions) Q1 2021 Q4 2020 Q3 2020 Q2 2020 Q1 2020 Total assets $30,036.7 $29,235.2 $29,437.4 $29,645.2 $27,540.4 Interest bearing cash and temporary investments 2,861.8 2,203.0 1,849.1 1,853.5 1,251.3 Investment securities available for sale, fair value 3,167.8 2,932.6 2,898.7 2,865.7 2,890.5 Loans and leases, gross 22,160.9 21,779.4 22,426.5 22,671.5 21,251.5 Allowance for credit losses on loans and leases (311.3) (328.4) (345.0) (356.7) (291.4) Goodwill and other intangibles, net 14.9 16.1 17.3 18.6 19.8 Deposits 25,886.8 24,622.2 24,669.8 24,844.4 22,699.4 Securities sold under agreements to repurchase 420.4 375.4 388.0 398.4 346.2 Borrowings 281.4 771.5 996.5 1,096.6 1,196.6 Total shareholders' equity 2,681.9 2,704.6 2,610.2 2,538.3 2,507.6 Ratios: Loan to deposit ratio 85.6% 88.5% 90.9% 91.3% 93.6% Book value per common share $12.16 $12.28 $11.85 $11.53 $11.39 Tangible book value per common share¹ $12.10 $12.21 $11.77 $11.44 $11.30 Tangible common equity to tangible assets¹ 8.9% 9.2% 8.8% 8.5% 9.0%

10 Segments - Core Banking Footnotes: 1. Credit represents the internal charge of centrally provided support services and other corporate overhead to the mortgage banking segment. (In Thousands) For the Quarter Ended Q1 2021 Q4 2020 Q3 2020 Q2 2020 Q1 2020 Net interest income $ 217,574 $ 230,430 $ 212,215 $ 208,245 $ 216,106 Provision (recapture) for credit losses — 29 (338) 87,085 118,085 Non-interest income (Loss) gain on sale of investment securities, net (702) (173) (112) 563 681 Gain (loss) on swap derivatives, net 11,750 3,955 1,765 (823) (14,306) Non-interest income (excluding above items) 32,403 40,921 39,678 31,697 36,588 Total non-interest income 43,451 44,703 41,331 31,437 22,963 Non-interest expense Goodwill Impairment — — — — 1,784,936 Exit and disposal costs 1,200 725 792 548 524 Non-interest expense (excluding above items) 145,161 171,634 148,519 141,448 147,896 Allocated expenses, net1 (790) (3,565) (2,976) (1,963) (3,053) Total non-interest expense 145,571 168,794 146,335 140,033 1,930,303 Income (loss) before income taxes 115,454 106,310 107,549 12,564 (1,809,319) Provision (benefit) for income taxes 28,106 (13,508) 20,988 (5,544) 33,445 Net income (loss) $ 87,348 $ 119,818 $ 86,561 $ 18,108 $ (1,842,764) Effective Tax Rate 24 % (13) % 20 % (44) % (2) % Efficiency Ratio 56 % 61 % 58 % 58 % 807 % Total assets 29,529,769 28,438,813 28,652,477 28,942,285 26,935,780 Loans held for sale 9,406 111,670 39,453 40,694 35,075 Total loans and leases 22,160,860 21,779,367 22,426,473 22,671,455 21,251,478 Total deposits 25,425,339 24,200,012 24,102,498 24,421,486 22,333,553 Key Rates, end of period: 10 year CMT 1.74 % 0.93 % 0.69 % 0.66 % 0.70 % FHLMC 30 year fixed 3.18 % 2.67 % 2.88 % 3.13 % 3.50 %

11 Segments - Mortgage Banking Footnotes: 1. Represents the internal charge of centrally provided support services and other corporate overhead to the mortgage banking segment. (In Thousands) For the Quarter Ended Q1 2021 Q4 2020 Q3 2020 Q2 2020 Q1 2020 Net interest income $ 3,857 $ 4,477 $ 4,359 $ 4,258 $ 2,429 Provision for credit losses — — — — — Non-interest income Residential mortgage banking revenue: Origination and sale 62,505 83,388 98,703 86,781 39,347 Servicing 9,087 9,497 8,796 8,533 8,880 Change in fair value of MSR asset: Changes due to collection/realization of expected cash flows over time (4,545) (4,431) (4,878) (5,042) (5,329) Changes due to valuation inputs or assumptions (2,014) (9,426) (12,244) (6,395) (25,358) Non-interest income (excluding above items) 316 229 216 166 142 Total non-interest income 65,349 79,257 90,593 84,043 17,682 Non-interest expense Non-interest expense 41,231 38,953 40,896 39,914 29,302 Allocated expenses, net1 790 3,565 2,976 1,963 3,053 Total non-interest expense 42,021 42,518 43,872 41,877 32,355 Income (loss) before income taxes 27,185 41,216 51,080 46,424 (12,244) Provision (benefit) for income taxes 6,796 10,304 12,770 11,606 (3,061) Net income (loss) $ 20,389 $ 30,912 $ 38,310 $ 34,818 $ (9,183) Effective Tax Rate 25 % 25 % 25 % 25 % 25 % Efficiency Ratio 61 % 51 % 46 % 47 % 161 % Total assets 506,911 796,362 784,964 702,963 604,602 Loans held for sale 367,075 654,555 644,507 564,705 446,466 Total deposits 461,494 422,189 567,285 422,892 365,822 Key Rates, end of period: 10 year CMT 1.74 % 0.93 % 0.69 % 0.66 % 0.70 % FHLMC 30 year fixed 3.18 % 2.67 % 2.88 % 3.13 % 3.50 % For the Quarter Ended Q1 2021 Q4 2020 Q3 2020 Q2 2020 Q1 2020 LHFS Production Statistics: Closed loan volume for-sale 1,635,532 1,769,432 1,922,789 1,826,095 1,148,184 Gain on sale margin 3.82% 4.71% 5.13% 4.75% 3.43% Direct LHFS expense 31,151 33,210 35,678 34,057 24,045 Direct LHFS expenses as % of volume 1.90 % 1.88 % 1.86 % 1.87 % 2.09 % MSR Statistics: Residential mortgage loans serviced for others 13,030,467 13,026,720 12,964,361 12,746,125 12,533,045 MSR, net 100,413 92,907 93,248 96,356 94,346 MSR as % of serviced portfolio 0.77% 0.71% 0.72% 0.76% 0.75%

Income Statement Highlights Q1 2021

13 Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Reported Net Interest Income $218.5 $212.5 $216.6 $234.9 $221.4 Accretion Related to Acquired Loans (3.6) (3.1) (3.4) (2.8) (2.2) PPP Accrued Interest (3.5) (5.1) (5.0) (4.6) PPP Processing Fees (6.9) (8.1) (24.2) (14.9) Adjusted Net Interest Income excluding acquired loan accretion and PPP $214.9 $199.0 $200.0 $202.9 $199.7 Net Interest Income Reported Net Interest Income $218.5 $212.5 $216.6 $234.9 $221.4 Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 $150.0 $160.0 $170.0 $180.0 $190.0 $200.0 $210.0 $220.0 $230.0 $240.0 Adjusted Net Interest Income excluding acquired loan accretion and PPP $214.9 $199.0 $200.0 $202.9 $199.7 Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 $150.0 $160.0 $170.0 $180.0 $190.0 $200.0 $210.0 $220.0 $230.0 $240.0 (in m ill io ns ) (in m ill io ns )

14 NIM – MBS & CMO Premium Amortization & Recapture Details Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 MBS & CMO Premium in $ millions (Amortization)/Recapture $(2.0)mm $(9.0)mm $(7.4)mm $(5.4)mm $(3.3)mm Net NIM Impact in basis points Accretive/(Dilutive) (0.03)% (0.13)% (0.10)% (0.08)% (0.05) % Net Interest Margin Footnotes: 1. PPP net impact includes both accrued interest on PPP loans and PPP processing fees Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Reported Net Interest Margin 3.41 % 3.09 % 3.08 % 3.35 % 3.18 % (Accretion) Related to Acquired Loans (0.06) % (0.05) % (0.05) % (0.04) % (0.03) % (Accretion)/Dilution Related to Net PPP Impact¹ — % 0.01 % 0.03 % (0.19) % (0.08) % Adjusted Net Interest Margin excluding acquired loan accretion and PPP 3.35 % 3.05 % 3.06 % 3.12 % 3.07 % Net Interest Margin 3.41% 3.09% 3.08% 3.35% 3.18%3.35% 3.05% 3.06% 3.12% 3.07% Reported Net Interest Margin Adjusted Net Interest Margin excluding acquired loan accretion and PPP Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 —% 1.00% 2.00% 3.00% 4.00%

15 Non-Interest Income Footnotes: Tables may not foot due to rounding 1. Commercial product revenue includes Swaps, Syndication, and International Banking revenue (in millions) For the quarter ended Q1 2021 Q4 2020 Q3 2020 Q2 2020 Q1 2020 Service charges on deposit $9.6 $10.2 $10.4 $8.8 $11.5 Card-based fees 7.4 7.8 7.1 5.9 7.4 Brokerage revenue 3.9 4.1 3.7 3.8 4.0 Residential mortgage banking revenue, net 65.0 79.0 90.4 83.9 17.5 Gain (loss) on sale of debt securities, net — — — 0.3 (0.1) Gain on equity securities, net (0.7) (0.2) (0.1) 0.2 0.8 Gain on loan and lease sales, net 1.4 3.4 1.1 1.1 1.2 BOLI income 2.1 2.1 2.1 2.1 2.1 Other Income Commercial product revenue¹ $2.8 $3.3 $3.5 $4.1 $6.3 Commercial servicing revenue 0.7 0.6 0.7 0.6 0.7 Loan related fees 2.1 2.8 2.7 2.9 3.3 Misc. Income 2.7 6.9 8.6 2.6 0.2 Swap Derivative Gain/(Loss) 11.8 4.0 1.8 (0.8) (14.3)

16 $181.9 $190.2 $211.3 $187.6 55.4% 54.5% 58.8% 56.7% Non-interest expense Efficiency ratio Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 $155.0 $160.0 $165.0 $170.0 $175.0 $180.0 $185.0 $190.0 $195.0 $200.0 $205.0 $210.0 $215.0 40.0% 50.0% 60.0% 70.0% 80.0% 90.0% 100.0% 110.0% Non-Interest Expense Non-Interest Expense and Efficiency Ratio (in millions) Non-Interest Expense Bridge (in millions) $1,962.7 756.3% G oo dw ill Im pa irm en t ( $1 ,7 85 ) $211.3 $(8.3) $(7.1) $(2.8) $(1.9) $(1.6) $(2.0) $187.6 Q 4 20 20 N on -In te re st E xp en se S al ar ie s an d B en ef its O cc up an cy a nd E qu ip m en t C ha ri ta bl e C on tr ib ut io ns Lo ss O n A ss et s S er vi ce s O th er Q 1 20 21 N on -In te re st E xp en se

Balance Sheet Highlights Q1 2021

18 Loan and Deposit Growth Loans and Leases (Gross) ($ in billions) Total Deposits ($ in billions) As of March 31, 2021 As of March 31, 2021 $6.5 $7.2 $7.7 $15.3 $16.8 $17.4 $19.0 $20.4 $21.2 $21.8 $22.2 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Q1 2021 $— $5.0 $10.0 $15.0 $20.0 $25.0 $9.2 $9.4 $9.1 $16.9 $17.7 $19.0 $19.9 $21.1 $22.5 $24.6 $25.9 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Q1 2021 $— $5.0 $10.0 $15.0 $20.0 $25.0 46% 30% 23% 1% Commercial Real Estate Commercial Residential Consumer & Other —% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% 41% 12% 29% 8% 10% Demand, non-interest bearing Demand, interest bearing Money market Savings Time —% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

19 28.8% 36.1% 37.3% 37.6% 39.1% 29.6% 26.5% 26.5% 27.1% 27.2% 41.5% 37.4% 36.2% 35.3% 33.7% Fixed Rate Floating Rate (monthly repricing) Adjustable (>1 month repricing) Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 —% 20.0% 40.0% 60.0% 80.0% 100.0% Loan and Lease Portfolio Repricing Schedule Footnotes: Tables may not foot due to rounding 1. Includes Loans Held For Sale Loans At Floor $5.1B (23% of portfolio) in Adjustable and Floating Rate loans were at their respective floor as of March 31, 2021. Floating Rate Breakout Q1 2021¹ Adjustable Rate Breakout Q1 2021¹ 36.0% 26.8% 2.7% 21.1% 13.4% 6 Month 12 Month 3 Year 5 Year Other Loans and Leases Portfolio1 27.7% 72.2% 0.1% Prime Libor 1 Month Other

20 Loan and Lease Portfolio Characteristics Footnotes: Balances and delinquencies as of March 31, 2021. Annualized net charge-off rate for Q1 2021. LTV, FICO and Debt Service Coverage (DSC) are based on weighted average for portfolio. LTV for the Mortgage portfolio represents average LTV based on most recent appraisal against updated loan balance. Totals may not foot due to rounding. Mortgage • Represents 18% of overall portfolio • Total delinquencies of 0.78% • Annualized net charge-off rate of 0.00% • Average loan size of $438,000 • Average FICO of 757 and LTV of 65% Non-owner Occupied CRE • Represents 16% of overall portfolio • Total delinquencies of 0.15% • De minimis < 0.01% annualized net charge off rate • Average loan size of $1.7 million • Average LTV of 52% and DSC of 1.9 Commercial & Industrial • Represents 24% of overall portfolio • Total delinquencies of 0.16% • Annualized net charge-off rate of 0.09% • Average loan size of $267,000 Multifamily • Represents 15% of overall portfolio • Total delinquencies of 0.31% • Annualized net charge-off rate of 0.00% • Average loan size of $1.8 million • Average LTV of 54% and DSC of 1.6 Owner Occupied CRE • Represents 11% of overall portfolio • Total delinquencies of 0.34% • De minimis < 0.01% annualized net charge-off rate • Average loan size of $914,000 • Average LTV of 55% and DSC of 1.8 Lease & Equipment Finance (FinPac) • Represents 6% of overall portfolio • Total delinquencies of 2.73% • Annualized net charge-off rate of 4.66% • ~10% average yield • Average loan size of $36,000 Geographic Diversification Puget Sound 15% OR Other 12% Northern CA 12% Southern CA 19% Portland/Vanc 13% Bay Area 11% WA Other 6% Other 12%

21 Capital Management Footnotes: 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%) 3.“Excess” Capital defined as capital above thresholds above internal policy limits 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 $611mm. Holding company ratios are shown to the right. Paid a quarterly cash dividend of $0.21 per common share on February 26, 2021 to shareholders of record as of February 16, 2021. 8.9% 9.2% 12.6% 12.6% 15.9% 5.0% 7.0% 8.5% 10.5% 6.0% 1.5% 2.0% 0.5% 1.5% 2.9% 2.7% 3.6% 3.6% 3.9% Capital Threshold² In-House Policy Floor "Excess" Capital³ Tangible Common Equity/Tangible Assets Tier 1 Leverage Tier 1 Common Risk Based Tier 1 Risk Based Total Risk Based —% 2.0% 4.0% 6.0% 8.0% 10.0% 12.0% 14.0% 16.0%

Credit Quality Q1 2021

23 Current Expected Credit Loss (“CECL”) Footnotes: 1. Total includes $20.3 mm for Reserve for Unfunded Commitments included in Other Liabilities on the balance sheet 2. Total includes $19.6 mm for Reserve for Unfunded Commitments included in Other Liabilities on the balance sheet 3. Totals do not include an allowance on accrued interest and fees related to loans currently on deferral due to COVID-19 Loan Segment 12/31/20203 Q1 2021 Net Charge-offs Reserve build 3/31/2021 % of loans and leases outstanding Commercial $52,165 ($1,227) ($3,045) $47,893 0.93 % Lease & Equipment Finance $100,889 ($16,296) ($1,848) $82,745 5.82 % CRE $157,070 $339 $12,734 $170,143 1.65 % Residential/Home Equity $29,625 $39 ($7,286) $22,378 0.44 % Consumer $8,938 ($499) ($555) $7,884 3.83 % Total $348,687 ¹ ($17,644) $— $331,043 ² 1.49 % % of loans and leases outstanding 1.60 % 1.49 % % of loans and leases outstanding – ex PPP loans 1.74 % 1.65 % Allowance For Credit Losses ($ in 000’s) CECL Notes Used Moody’s February Baseline economic forecast Key Components of the Moody’s economic forecast include: • Includes GDP average annualized growth of 5% in 2021 • Average annualized unemployment rate of 6.1% in 2021 with return to <5% unemployment by Q3 2022 • Herd immunity expected by Q3 2021 • Net fiscal support over President Biden’s current term expected to be $2T

24 Credit Quality P ro vi si on E xp en se ($ in m ill io ns ) N on perform ing assets to total assets Provision Expense & Non-Performing Assets to Total Assets $118.1 $87.1 $(0.3) $— $— 0.32% 0.25% 0.27% 0.24% 0.19% Provision expense Non Performing Assets To Total Assets Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 $(20.0) $— $20.0 $40.0 $60.0 $80.0 $100.0 $120.0 $140.0 —% 0.05% 0.10% 0.15% 0.20% 0.25% 0.30% 0.35% C la ss ifi ed L oa ns / To ta l L oa ns C lassified A ssets / R B C Classified Assets 0.75% 0.68% 0.88% 0.92% 0.74% 7.60% 7.00% 8.70% 8.60% 7.00% Classified Loans to Total Loans Classified Assets to Risk-Based Capital Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 —% 0.20% 0.40% 0.60% 0.80% 1.00% 1.20% 1.40% 1.60% 6.00% 7.00% 8.00% 9.00% 10.00% 11.00% 12.00% 13.00% 14.00% 15.00% A C L ($ in m ill io ns ) A llow ance / Total Loans and Leases Allowance for Credit Losses $312.3 $383.1 $369.4 $348.7 $331.0 1.47% 1.69% 1.65% 1.60% 1.49% Allowance for credit losses Allowance for credit losses to total loans and leases Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 $— $40.0 $80.0 $120.0 $160.0 $200.0 $240.0 $280.0 $320.0 $360.0 $400.0 $440.0 0.20% 0.40% 0.60% 0.80% 1.00% 1.20% 1.40% 1.60% 1.80% Net Charge-offs to Average Loans and Leases (annualized) 0.20% 0.09% 0.02% 0.04% 0.03% 3.33% 3.05% 3.28% 4.87% 4.66% 0.41% 0.29% 0.24% 0.35% 0.33% Umpqua Bank (ex FinPac) Fin Pac Umpqua Holding Consolidated Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 —% 0.50% 1.00% 1.50% 2.00% 2.50% 3.00% 3.50% 4.00% 4.50% 5.00%

25 Loan Deferral Summary Loan Deferrals By Category and Trend Analysis Summary of Current Deferrals (as of 3/31/2021) Deferral Trends Deferral Commentary ($'s in 000s) ($'s in 000s) Category Current Deferrals1 Q1 2021 Total Balances1 Current Deferrals (%) Commercial Real Estate $145,731 $10,302,400 1.4% Non-owner CRE 111,307 3,455,773 3.2 Owner occupied CRE 27,029 2,358,169 1.1 Multifamily 5,759 3,421,320 0.1 Construction and Development 1,636 876,297 0.2 Residential Development — 190,841 — Commercial $21,449 $6,596,902 0.3% Term 1,074 4,350,763 — Commercial LOCs 869 825,162 0.1 Leases & equipment finance (e.g. FinPac) 19,506 1,420,977 1.4 Residential $156,078 $5,432,293 2.9% Mortgage¹ ² 152,250 4,335,125 3.5 Home equity loans and lines 3,828 1,097,168 0.3 Consumer & other $735 205,746 0.4% Totals $323,993 $22,537,341 1.4% Current deferrals as of 3/31/2021 represent $324mm or 1.4% of portfolio Deferrals in the RRE category exclude repurchased delinquent GNMA loans, previously in the serviced portfolio, totaling $166mm as the credit risk of these loans are guaranteed by government programs such as the Federal Housing Agency, Veteran Affairs, and USDA Rural Development. Current cure rate is approximately 85% and we continue to see positive momentum in deferral activity (e.g., borrowers resuming payments) Footnotes: 1. Includes RRE LHFS 2. Excludes GNMA deferrals of $166.3 million Balances Accounts 03/ 01/ 20 03/ 31/ 20 04/ 30/ 20 05/ 31/ 20 06/ 30/ 20 07/ 31/ 20 08/ 31/ 20 09/ 30/ 20 10/ 31/ 20 11/ 30/ 20 12/ 31/ 20 01/ 31/ 21 02/ 28/ 21 03/ 31/ 21 $— $200,000 $400,000 $600,000 $800,000 $1,000,000 $1,200,000 $1,400,000 $1,600,000 $1,800,000 $2,000,000 — 2,000 4,000 6,000 8,000 10,000 12,000 14,000 16,000

26 Hospitality Air Transportation Portfolios of Interest Potential COVID-19 Impacts Footnotes: 1. Includes NAICS code of 721110 2. Includes NAICS codes of 481111, 481112, 481211 3. PPP loans are not included in % of portfolio calculations Hotels & Motels¹: • $523mm outstanding balance (2.6% of portfolio³) • Deferrals: $87mm (17%) currently on deferral • Weighted Avg. LTV: 52% • Avg. Loan Size: $2.2mm • Geographic distribution: 36% California, 31% Oregon, 25% Washington, and 9% Other • Portfolio consists of seasoned established operators and 85% of the portfolio are flagged hotel properties. Air Transportation and Related Companies Supporting Air Transportation²: • $126mm outstanding balance (0.6% of portfolio³) • No current deferrals in this portfolio • Avg. Loan Size: $5.3mm • Portfolio consists of scheduled freight & passenger air transportation as well as companies directly supporting the air transportation sector (e.g., engine lessors and aircraft lessors)

27 Restaurants Gaming Portfolios of Interest Potential COVID-19 Impacts Footnotes: 1. 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 Restaurants¹: • $103mm outstanding balance (0.5% of portfolio³) • Deferrals: $700k (0.7%) currently on deferral • Avg. Loan Size: $142k • 59% of portfolio is limited service restaurants (e.g., fast food) and 41% is full-service restaurants. • Geographic distribution: 46% California, 32% Oregon, 10% Nevada, 8% Washington and 4% Other Casinos, Casino Hotels, and Other Gambling Industries²: • $367mm outstanding balance (1.8% of portfolio³) • No current deferrals in this portfolio • Avg. Loan Size: $5.8mm • Geographic distribution: 33% California, 32% Nevada, 18% Washington, 11% Oregon, and 6% Other

Appendix Non-GAAP Reconciliation

29 Non-GAAP Reconciliation Tangible Book Value (In thousands, except per share data) Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Total shareholders' equity $2,681,869 $2,704,577 $2,610,244 $2,538,339 $2,507,611 Subtract: Goodwill 2,715 2,715 2,715 2,715 2,715 Other intangible assets, net 12,230 13,360 14,606 15,853 17,099 Tangible equity - common 2,666,924 2,688,502 2,592,923 2,519,771 2,487,797 Total assets $30,036,680 $29,235,175 $29,437,441 $29,645,248 $27,540,382 Subtract: Goodwill 2,715 2,715 2,715 2,715 2,715 Other intangible assets, net 12,230 13,360 14,606 15,853 17,099 Tangible assets 30,021,735 29,219,100 29,420,120 29,626,680 27,520,568 Common shares outstanding at period end 220,491 220,226 220,222 220,219 220,175 Total shareholders' equity to total assets ratio 8.93 % 9.25 % 8.87 % 8.56 % 9.11 % Tangible common equity ratio 8.88 % 9.20 % 8.81 % 8.51 % 9.04 % Book value per common share $12.16 $12.28 $11.85 $11.53 $11.39 Tangible book value per common share $12.10 $12.21 $11.77 $11.44 $11.30

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