8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): April 21, 2022

SVB Financial Group

(Exact name of registrant as specified in its charter)

Delaware	001-39154	91-1962278
(State or other jurisdiction of incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)

3003 Tasman Drive, Santa Clara, CA 95054-1191

(Address of principal executive offices) (Zip Code)

Registrant’s telephone number, including area code: (408) 654-7400

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.142-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Securities registered pursuant to Section 12(b) of the Act:

Title of Each Class	Trading Symbol	Name of Exchange on Which Registered
Common Stock, par value $0.001 per share	SIVB	The Nasdaq Stock Market LLC
Depositary shares, each representing a 1/40th interest in a share of 5.250% Fixed-Rate Non-Cumulative Perpetual Preferred Stock, Series A	SIVBP	The Nasdaq Stock Market LLC

Item 2.02. Results of Operations and Financial Condition.

On April 21, 2022, SVB Financial Group (the “Company”) announced its financial results for the first quarter ended March 31, 2022. A copy of the release and a first quarter CEO letter and earnings slides are attached hereto as Exhibit 99.1 and Exhibit 99.2, respectively, and are incorporated herein by reference. The information in this report shall not be treated as “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall it be deemed incorporated by reference into any registration statement or other document pursuant to the Securities Act of 1933 or the Securities Act of 1934, except as expressly stated by specific reference in such filing.

Item 8.01. Other Events.

On April 21, 2022, the Company's Board of Directors declared a quarterly cash dividend of $13.125 per share (representing $0.328125 per depositary share) on the Series A Preferred Stock. The dividend is payable on May 16, 2022 to holders of record at the close of business on May 1, 2022.

On April 21, 2022, the Company's Board of Directors declared a quarterly cash dividend of $1,025 per share (representing $10.25 per depositary share) on the Series B Preferred Stock. The dividend is payable on May 16, 2022 to holders of record at the close of business on May 1, 2022.

On April 21, 2022, the Company's Board of Directors declared a quarterly cash dividend of $1,000 per share (representing $10.00 per depositary share) on the Series C Preferred Stock. The dividend is payable on May 16, 2022 to holders of record at the close of business on May 1, 2022.

On April 21, 2022, the Company's Board of Directors declared a quarterly cash dividend of $1,062.50 per share (representing $10.625 per depositary share) on the Series D Preferred Stock. The dividend is payable on May 16, 2022 to holders of record at the close of business on May 1, 2022.

On April 21, 2022, the Company's Board of Directors declared a quarterly cash dividend of $1,175 per share (representing $11.75 per depositary share) on the Series E Preferred Stock. The dividend is payable on May 16, 2022 to holders of record at the close of business on May 1, 2022.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits. 

Exhibit No.	Description
99.1	Earnings Release, dated April 21, 2022, announcing the Company's financial results for the first quarter ended March 31, 2022
99.2	Q1 2022 CEO Letter and Earnings Slides
104	Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: April 21, 2022	SVB FINANCIAL GROUP
	By:	/s/ KAREN HON
	Name:	Karen Hon
	Title:	Chief Accounting Officer and Principal Accounting Officer

EX-99.1

Exhibit 99.1

3003 Tasman Drive, Santa Clara, CA 95054	Contact:
www.svb.com	Meghan O'Leary
	Investor Relations
For release at 1:00 P.M. (Pacific Time)	IR@SVB.com
April 21, 2022	(408) 654-6364
NASDAQ: SIVB

SVB FINANCIAL GROUP ANNOUNCES 2022 FIRST QUARTER FINANCIAL RESULTS

Board of Directors declared a quarterly dividend on Series A, B, C, D and E Preferred Stock

SANTA CLARA, Calif. — April 21, 2022 — SVB Financial Group (NASDAQ: SIVB) today announced financial results for the first quarter ended March 31, 2022.

Consolidated net income available to common stockholders for the first quarter of 2022 was $472 million, or $7.92 per diluted common share, compared to $371 million, or $6.22 per diluted common share, for the fourth quarter of 2021 and $532 million, or $10.03 per diluted common share, for the first quarter of 2021.

"Our quarterly results demonstrate the power and flexibility of our business model and larger balance sheet, with continued earnings growth as rising rates and our strong execution drove higher revenue, even as market volatility slowed client liquidity growth and pressured valuations and investment banking income," said Greg Becker, President and CEO of SVB Financial Group. "Credit quality was pristine, and client activity remained robust, with client acquisition reaching record highs despite slower VC investment and exits. We have increased our full year 2022 revenue outlook and will invest part of the upside from rising rates into our business to support our continued momentum and leadership in the innovation economy."

Highlights of our first quarter of 2022 results (compared to fourth quarter 2021, unless otherwise noted) included:

•Average loans of $67.1 billion, an increase of $4.5 billion (or 7.2 percent).

•Period-end loans of $68.7 billion, an increase of $2.4 billion (or 3.6 percent).

•Average fixed income investment securities of $125.6 billion, an increase of $13.9 billion (or 12.4 percent).

•Period-end fixed income investment securities of $124.7 billion, a decrease of $718 million (or 0.6 percent).

•Average total client funds (on-balance sheet deposits and off-balance sheet client investment funds) increased $6.2 billion (or 1.6 percent) to $396.9 billion, which includes an increase in average on-balance sheet deposits of $7.7 billion (or 4.2 percent).

•Period-end total client funds decreased $1.9 billion (or 0.5 percent) to $397.4 billion, which includes an increase in period-end on-balance sheet deposits of $8.9 billion (or 4.7 percent).

•Period-end SVB Private Assets Under Management (“AUM”) of $19.0 billion, a decrease of $638 million from the prior quarter.

•Net interest income (fully taxable equivalent basis) of $1.1 billion, an increase of $144 million (or 15.2 percent).

•Provision for credit losses was $11 million, compared to $48 million.

•Net loan charge-offs of $8 million, or 5 basis points of average total loans (annualized) compared to $1 million, or 1 basis point.

•Noninterest income of $517 million, a decrease of $44 million (or 7.8 percent). Non-GAAP core fee income increased $14 million (or 6.5 percent) to $230 million. Non-GAAP SVB Leerink revenue decreased $27 million (or 18.6 percent) to $118 million. (See non-GAAP reconciliation under the section “Use of Non-GAAP Financial Measures.”)

•Net gains on investment securities of $85 million compared to $100 million. Non-GAAP net gains on investment securities, net of noncontrolling interests, were $67 million, compared to $86 million. (See non-GAAP reconciliation under the section “Use of Non-GAAP Financial Measures.”)

•Net gains on equity warrant assets of $63 million, compared to $69 million.

•Noninterest expense of $873 million, a decrease of $29 million (or 3.2 percent).

•Operating efficiency ratio of 54.6 percent, compared to 60.1 percent. The improvement was driven primarily by an increase in net interest income.

First Quarter 2022 Summary

(Dollars in millions, except share data, employees and ratios)	Three months ended
	March 31, 2022			December 31, 2021			September 30, 2021			June 30, 2021			March 31, 2021
Income statement:
Diluted earnings per common share	$	7.92		$	6.22		$	6.24		$	9.09		$	10.03
Net income available to common stockholders	472			371			365			502			532
Net interest income	1,082			939			852			728			660
Provision for credit losses (1) (2)	11			48			21			35			19
Noninterest income	517			561			672			761			744
Noninterest expense	873			902			879			653			636
Non-GAAP core fee income (3)	230			216			204			172			159
Non-GAAP core fee income plus SVB Securities revenue (3)	348			361			311			292			325
Non-GAAP SVB Securities revenue (3)	118			145			107			120			166
Effective tax rate (4)	26.1		%	26.4		%	27.6		%	25.1		%	25.9		%
Fully taxable equivalent:
Net interest income (5)	$	1,091		$	947		$	859		$	735		$	665
Net interest margin	2.13		%	1.91		%	1.95		%	2.06		%	2.29		%
Balance sheet:
Average total assets	$	216,069		$	204,760		$	182,690		$	150,717		$	124,815
Average loans, amortized cost	67,070			62,573			59,291			49,812			46,281
Average available-for-sale securities	26,946			24,154			23,290			24,358			28,248
Average held-to-maturity securities	98,677			87,579			70,512			47,914			25,295
Average noninterest-bearing demand deposits	125,568			122,789			109,638			91,530			73,233
Average interest-bearing deposits	65,150			60,273			53,754			42,230			37,375
Average total deposits	190,718			183,062			163,392			133,760			110,608
Average short-term borrowings	3,136			145			99			39			12
Average long-term debt	2,570			2,380			1,936			1,604			1,162
Period-end total assets	220,355			211,478			190,996			163,399			142,347
Period-end loans, amortized cost	68,665			66,276			61,487			50,754			47,675
Period-end available-for-sale securities	25,991			27,221			22,984			23,876			25,986
Period-end held-to-maturity securities	98,707			98,195			82,365			59,992			41,165
Period-end non-marketable and other equity securities	2,605			2,543			2,485			1,943			1,858
Period-end noninterest-bearing demand deposits	127,997			125,851			115,388			101,259			84,440
Period-end interest-bearing deposits	70,137			63,352			55,794			44,579			39,710
Period-end total deposits	198,134			189,203			171,182			145,838			124,150
Period-end short-term borrowings	99			121			97			34			39
Period-end long-term debt	2,571			2,570			1,925			1,834			1,338
Off-balance sheet:
Average client investment funds	$	206,140		$	207,578		$	191,286		$	174,327		$	151,579
Period-end client investment funds	199,216			210,086			200,234			183,167			163,882
Period-end assets under management	19,008			19,646			19,565			—			—
Total unfunded credit commitments	45,554			43,698			40,259			36,385			33,987
Earnings ratios:
Return on average assets (annualized) (6)	0.89		%	0.72		%	0.79		%	1.34		%	1.73		%
Return on average SVBFG common stockholders’ equity (annualized) (7)	15.28			11.80			12.47			21.69			27.04
Asset quality ratios:
Allowance for credit losses for loans as a % of total loans	0.61		%	0.64		%	0.65		%	0.78		%	0.82		%
Allowance for credit losses for performing loans as a % of total performing loans	0.58			0.58			0.59			0.71			0.74
Gross loan charge-offs as a % of average total loans (annualized) (2)	0.11			0.06			0.13			0.12			0.83
Net loan charge-offs as a % of average total loans (annualized) (2)	0.05			0.01			0.07			0.10			0.79
Other ratios:
Operating efficiency ratio (8)	54.60		%	60.13		%	57.68		%	43.85		%	45.31		%
Total cost of deposits (annualized) (9)	0.05			0.04			0.05			0.04			0.04
SVBFG CET 1 risk-based capital ratio	12.11			12.09			12.73			11.93			12.18
Bank CET 1 risk-based capital ratio	14.91			14.89			14.68			13.66			12.93
SVBFG tier 1 risk-based capital ratio	15.90			16.08			15.37			14.95			14.01
Bank tier 1 risk-based capital ratio	14.91			14.89			14.68			13.66			12.93
SVBFG total risk-based capital ratio	16.41			16.58			15.87			15.53			14.62
Bank total risk-based capital ratio	15.44			15.40			15.21			14.26			13.56
SVBFG tier 1 leverage ratio	7.70			7.93			7.77			7.77			8.01
Bank tier 1 leverage ratio	7.09			7.24			7.30			6.96			7.20
Period-end loans, amortized cost, to deposits ratio	34.66			35.03			35.92			34.80			38.40

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Average loans, amortized cost, to average deposits ratio	35.17		34.18		36.29		37.24		41.84
Book value per common share (10)	$	209.62	$	214.30	$	208.53	$	176.10	$	163.25
Tangible book value per common share (3) (11)	201.07		205.64		200.01		172.44		159.50
Other statistics:
Average full-time equivalent ("FTE") employees	6,975		6,431		6,024		4,808		4,601
Period-end full-time equivalent ("FTE") employees	7,149		6,567		6,208		4,932		4,656

(1)This metric for the quarter ended September 30, 2021 includes a post-combination provision of $46 million to record the allowance for credit losses for non-PCD loans and unfunded credit commitments acquired from Boston Private.

(2)This metric for the quarter ended March 31, 2021 includes the impact of an $80 million charge-off related to fraudulent activity discussed in previous filings.

(3)To supplement our unaudited condensed consolidated financial statements presented in accordance with generally accepted accounting principles in the United States (“GAAP”), we use certain non-GAAP measures. A reconciliation of these non-GAAP measures to the most closely related GAAP measures is provided at the end of this release under the section “Use of Non-GAAP Financial Measures.”

(4)Our effective tax rate is calculated by dividing income tax expense by the sum of income before income tax expense and net income attributable to noncontrolling interests.

(5)Interest income on non-taxable investments is presented on a fully taxable equivalent basis using the federal statutory income tax rate of 21.0 percent. The taxable equivalent adjustments were $9 million for the quarter ended March 31, 2022, $8 million for the quarter ended December 31, 2021, $7 million for the quarter ended September 30, 2021, $7 million for the quarter ended June 30, 2021 and $5 million for the quarter ended March 31, 2021.

(6)Ratio represents annualized consolidated net income available to common stockholders divided by average assets.

(7)Ratio represents annualized consolidated net income available to common stockholders divided by average SVB Financial Group ("SVBFG") common stockholders’ equity.

(8)Ratio is calculated by dividing noninterest expense by total net interest income plus noninterest income.

(9)Ratio represents annualized total cost of deposits and is calculated by dividing interest expense from deposits by average total deposits.

(10)Book value per common share is calculated by dividing total SVBFG common stockholders’ equity by total outstanding common shares.

(11)Tangible book value per common share is calculated by dividing tangible common equity by total outstanding common shares. Tangible common equity is a non-GAAP measure defined under the section “Use of Non-GAAP Financial Measures.”

Investment Securities

Our investment securities portfolio is comprised of: (i) our available-for-sale ("AFS") and held-to-maturity ("HTM") securities portfolios, each consisting of fixed income investments which are managed to earn an appropriate portfolio yield over the long-term while maintaining sufficient liquidity and addressing our asset/liability management objectives; and (ii) our non-marketable and other equity securities portfolio, which primarily represents investments managed as part of our funds management business as well as public equity securities held as a result of equity warrant assets exercised.

The following table provides further details on our AFS and HTM securities portfolios:

	Available-for-sale securities						Held-to-maturity securities
	Three months ended						Three months ended
(Dollars in millions)	March 31, 2022		December 31, 2021		March 31, 2021		March 31, 2022		December 31, 2021		March 31, 2021
Average balance	$	26,946	$	24,154	$	28,248	$	98,677	$	87,579	$	25,295
Period-end balance	25,991		27,221		25,986		98,707		98,195		41,165
Weighted-average duration (in years)	3.7		3.5		5.1		5.2		4.1		4.6
Weighted-average duration including fair value swaps (in years) (1)	3.1		2.4		3.7		N/A		N/A		N/A

(1)The total notional value of our pay-fixed, receive-floating interest rate swap fair value hedge contracts for AFS securities was $5.9 billion as of March 31, 2022, $10.7 billion as of December 31, 2021 and $10.0 billion as of March 31, 2021.

The period-end decrease in AFS securities was driven by a $1.1 billion decrease in the fair value of our AFS securities portfolio, reflective of higher interest rates, as well as paydowns and maturities of AFS securities of $462 million during the quarter. In addition, asset liability management repositioning drove a $5.3 billion sale of AFS securities and termination of related swaps, resulting in a net pre-tax realized gain of $49 million, with reinvestment of proceeds from the sale at higher yields. The period-end increase in HTM securities was driven by purchases of $4.6 billion, partially offset by $4.0 billion in paydowns and maturities.

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The following table provides further details on our non-marketable securities portfolio:

(Dollars in millions)	March 31, 2022		December 31, 2021		March 31, 2021
GAAP non-marketable and other equity securities	$	2,605	$	2,543	$	1,858
Less: investments in qualified affordable housing projects	957		954		617
Less: noncontrolling interests in non-marketable securities	389		367		226
Non-GAAP non-marketable and other equity securities, net of investments in qualified affordable housing projects and noncontrolling interests (1)	$	1,259	$	1,222	$	1,015

(1)Non-marketable and other equity securities, net of investments in qualified affordable housing projects and noncontrolling interests is a non-GAAP measure defined under the section “Use of Non-GAAP Financial Measures.”

Loans

Average loans increased by $4.5 billion to $67.1 billion for the first quarter of 2022, compared to $62.6 billion for the fourth quarter of 2021. Period-end loans increased $2.4 billion to $68.7 billion at March 31, 2022, compared to $66.3 billion at December 31, 2021. Average and period-end loan growth was driven primarily by our Global Fund Banking portfolio, with continued growth in our Technology and Life Science/Healthcare and Private Bank loan portfolios.

The following table provides a summary of our loans at amortized cost basis broken out by class of financing receivable. The March 31, 2021 amounts have been reclassified to conform to current period presentation.

(Dollars in millions)	March 31, 2022		December 31, 2021		March 31, 2021
Global fund banking	$	39,344	$	37,958	$	27,307
Investor dependent
Early stage	1,707		1,593		1,523
Growth stage	4,032		3,951		3,644
Total investor dependent	5,739		5,544		5,167
Cash flow dependent - SLBO	1,826		1,798		1,984
Innovation C&I	7,247		6,673		5,461
Private bank	9,235		8,743		5,064
CRE	2,595		2,670		—
Premium wine	997		985		1,040
Other C&I	1,175		1,257		—
Other	316		317		46
PPP	191		331		1,606
Total loans	$	68,665	$	66,276	$	47,675

Net Interest Income and Margin

Net interest income, on a fully taxable equivalent basis, was $1.1 billion for the first quarter of 2022, compared to $947 million for the fourth quarter of 2021. The $144 million increase was attributable primarily to the following:

•An increase of $122 million in interest income from our fixed income investment securities due primarily to the $13.9 billion increase in average fixed income securities and an increase in yields inclusive of a decrease in premium amortization on mortgage related investment securities as a result of a reduction in estimated prepayment speeds driven by higher rates.

•An increase of $26 million in interest income from loans due primarily to $4.5 billion in average loan growth, partially offset by a decrease due to two fewer days in the first quarter as compared to the fourth quarter.

Net interest margin, on a fully taxable equivalent basis, was 2.13 percent for the first quarter of 2022, compared to 1.91 percent for the fourth quarter of 2021. The 22 basis point increase in our net interest margin was due primarily to the decrease in premium amortization mentioned above, the overall shift in balance sheet growth from cash into higher yielding fixed income investment securities and loans and improved yields reflective of the higher rate environment.

For the first quarter of 2022, approximately 92 percent, or $61.7 billion, of our average loans were variable-rate loans that adjust at prescribed measurement dates. Of our variable-rate loans, approximately 67 percent are tied to prime-lending rates, 29 percent are tied to LIBOR and 4 percent are tied to alternate reference rates.

With the December 31, 2021, cessation of most global LIBOR rates including the 1-week and 2-month USD LIBOR tenors, SVB is offering products tied to alternate reference rates for clients today across USD (SOFR), GBP (SONIA), and EUR (€STR). For USD, SVB supports Term SOFR (1-,3-, and 6-month tenors) and Daily Simple SOFR conventions. We are currently focused on legacy contracts and continued migration away from LIBOR to alternate

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reference rates. SVB does not expect any material changes in net interest income or net interest expense from product spread adjustments as a result of offering alternative reference rates.

Credit Quality

The following table provides a summary of our allowance for credit losses for loans, unfunded credit commitments and HTM securities:

	Three months ended
(Dollars in millions, except ratios)	March 31, 2022			December 31, 2021			March 31, 2021
Allowance for credit losses for loans, beginning balance	$	422		$	398		$	448
Provision for loans (1)	8			25			34
Gross loan charge-offs (1)	(18)			(9)			(95)
Loan recoveries	10			8			5
Foreign currency translation adjustments	(1)			—			—
Allowance for credit losses for loans, ending balance	$	421		$	422		$	392
Allowance for credit losses for unfunded credit commitments, beginning balance	$	171		$	149		$	121
Provision (reduction) for unfunded credit commitments	4			22			(16)
Allowance for credit losses for unfunded credit commitments, ending balance (2)	$	175		$	171		$	105
Allowance for credit losses for HTM securities, beginning balance	$	7		$	6		$	—
(Reduction) provision for HTM securities	(1)			1			1
Allowance for credit losses for HTM securities, ending balance (3)	$	6		$	7		$	1
Ratios and other information:
Provision for loans as a percentage of period-end total loans (annualized) (1)	0.05		%	0.15		%	0.29		%
Gross loan charge-offs as a percentage of average total loans (annualized) (1)	0.11			0.06			0.83
Net loan charge-offs as a percentage of average total loans (annualized) (1)	0.05			0.01			0.79
Allowance for credit losses for loans as a percentage of period-end total loans	0.61			0.64			0.82
Provision for credit losses	$	11		$	48		$	19
Period-end total loans	68,665			66,276			47,675
Average total loans	67,070			62,573			46,281
Allowance for credit losses for nonaccrual loans	20			35			42
Nonaccrual loans	70			84			90

(1)Metrics for the three months ended March 31, 2021 include the impact of an $80 million charge-off related to fraudulent activity discussed in previous filings.

(2)The “allowance for credit losses for unfunded credit commitments” is included as a component of “other liabilities.”

(3)The "allowance for credit losses for HTM securities" is included as a component of HTM securities and presented net in our consolidated financial statements.

Our allowance for credit losses for loans decreased $1 million to $421 million at March 31, 2022, compared to $422 million at December 31, 2021.As a percentage of total loans, our allowance for credit losses for loans decreased 3 basis points to 0.61 percent at March 31, 2022, compared to 0.64 percent at December 31, 2021.

The provision for credit losses was $11 million for the first quarter of 2022, consisting of the following:

•A provision for credit loss for loans of $8 million, driven primarily by a $15 million provision for loan growth and an increase of $16 million for charge-offs not previously reserved for. These increases were partially offset by a $10 million reduction for recoveries and a $15 million decrease in reserves for nonaccrual loans.

•A provision for credit loss for unfunded credit commitments of $4 million, driven primarily by a $6 million provision for commitment growth, partially offset by a reduction of $2 million due to changes in our unfunded portfolio composition that resulted in a shorter portfolio lifetime and improved credit quality.

•A reduction in provision for credit losses for HTM securities of $1 million, driven primarily by improved HTM bond portfolio demographics.

Gross loan charge-offs were $18 million for the first quarter of 2022, of which $16 million was not specifically reserved for at December 31, 2021. Gross loan charge-offs were primarily driven by a $4 million charge-off from one Investor Dependent - Early Stage client and $9 million in charge-offs from two Investor Dependent - Growth Stage clients. The remaining $5 million gross loan charge-offs were also driven primarily by our Investor Dependent portfolios.

Nonaccrual loans were $70 million at March 31, 2022, compared to $84 million at December 31, 2021. Our nonaccrual loan balance decreased $14 million, due primarily to $16 million in repayments and credit upgrades, which were partially offset by $5 million of new nonaccrual loans. Of the $16 million in reductions, $9 million was driven by clients in our Technology and Life Science/Healthcare portfolios, including $2 million from one Investor Dependent - Early Stage client. The $5 million of new nonaccrual loans was driven primarily by clients in our Investor Dependent -

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Early Stage portfolio. Nonperforming loans, which includes nonaccrual loans of $70 million as well as $2 million of loans past due 90 days or more still accruing interest, as a percentage of total loans decreased 4 basis points to 0.10 percent for the first quarter of 2022, compared to 0.14 percent for the fourth quarter of 2021.

The allowance for credit losses for nonaccrual loans decreased $15 million to $20 million in the first quarter of 2022. The decrease was due primarily to repayments and credit upgrades within our nonaccrual loans portfolio, as well as $2 million in charge-offs which we previously reserved for. These reductions were partially offset by additional reserves for nonaccrual loans, driven primarily by our Investor Dependent and Private Bank portfolios.

Client Funds

Our Total Client Funds consist of the sum of both our on-balance sheet deposits and off-balance sheet client investment funds. The following tables provide a summary of our average and period-end on-balance sheet deposits and off-balance sheet client investment funds:

Average On-Balance Sheet Deposits and Off-Balance Sheet Client Investment Funds (1)

	Average balances for the
	Three months ended
(Dollars in millions)	March 31, 2022		December 31, 2021		March 31, 2021
Interest-bearing deposits	$	65,150	$	60,273	$	37,375
Noninterest bearing demand deposits	125,568		122,789		73,233
Total average on-balance sheet deposits	$	190,718	$	183,062	$	110,608
Sweep money market funds	$	109,116	$	108,350	$	67,138
Managed client investment funds (2)	84,467		84,188		72,478
Repurchase agreements	12,557		15,040		11,963
Total average off-balance sheet client investment funds	$	206,140	$	207,578	$	151,579

Period-end On-Balance Sheet Deposits and Off-Balance Sheet Client Investment Funds (1)

	Period-end balances at
(Dollars in millions)	March 31, 2022		December 31, 2021		March 31, 2021
Interest-bearing deposits	$	70,137	$	63,352	$	39,710
Noninterest-bearing demand deposits	127,997		125,851		84,440
Total period-end on-balance sheet deposits	$	198,134	$	189,203	$	124,150
Sweep money market funds	$	102,550	$	109,241	$	75,328
Managed client investment funds (2)	83,988		85,475		75,970
Repurchase agreements	12,678		15,370		12,584
Total period-end off-balance sheet client investment funds	$	199,216	$	210,086	$	163,882

(1)Off-Balance sheet client investment funds are maintained at third-party financial institutions.

(2)These funds represent investments in third-party money market mutual funds and fixed income securities managed by SVB Asset Management.

Average Total Client Funds increased by $6.2 billion to $396.9 billion for the first quarter of 2022, compared to $390.6 billion for the fourth quarter of 2021. Period-end Total Client Funds decreased $1.9 billion to $397.4 billion at March 31, 2022, compared to $399.3 billion at December 31, 2021. The moderate increase in our average Total Client Funds balance and decrease in our period-end balance is reflective of the slowdown in later-stage fundraising and exit activity resulting from market volatility. The increases in average and period-end on-balance sheet deposits were driven primarily by our Technology portfolio and reflective of strong early-stage investment and client acquisition as well as flexible liquidity solutions that shifted off-balance sheet client funds on-balance sheet.

6    

SVB Private Assets Under Management ("AUM")

AUM consists of SVB Private's (formerly known as SVB Private Bank) client investment account balances and generates fee income included in financial statement line item wealth management and trust fees included in our consolidated statements of income. The decrease in SVB Private AUM was due to market declines, partially offset by net flows. The following table summarizes the activity relating to AUM for the three months ended March 31, 2022 and December 31, 2021, respectively:

	Three months ended
(Dollars in millions)	March 31, 2022		December 31, 2021
Beginning balance	$	19,646	$	19,565
Net flows	264		(891)
Market returns	(902)		972
Ending balance	$	19,008	$	19,646

Noninterest Income

Noninterest income was $517 million for the first quarter of 2022, compared to $561 million for the fourth quarter of 2021. The decrease in noninterest income was primarily driven by lower investment banking revenue as well as lower net gains on investment securities and equity warrant assets, partially offset by increases in client investment fees.

Items impacting noninterest income for the first quarter of 2022 were as follows:

Net gains on investment securities

The following tables provide a summary of non-GAAP net gains on investment securities, net of noncontrolling interests, for the three months ended March 31, 2022 and December 31, 2021, respectively:

	Three months ended March 31, 2022
(Dollars in millions)	Managed Funds of Funds		Managed Direct Venture Funds		Managed Credit Funds		Public Equity Securities		Sales of AFS Securities		Strategic and Other Investments		SVB Securities		Total
GAAP gains (losses) on investment securities, net	$	46	$	15	$	6	$	(32)	$	49	$	2	$	(1)	$	85
Less: income attributable to noncontrolling interests, including carried interest allocation	15		2		1		—		—		—		—		18
Non-GAAP gains (losses) on investment securities, net of noncontrolling interests	$	31	$	13	$	5	$	(32)	$	49	$	2	$	(1)	$	67

	Three months ended December 31, 2021
(Dollars in millions)	Managed Funds of Funds		Managed Direct Venture Funds		Managed Credit Funds		Public Equity Securities		Sales of AFS Securities		Strategic and Other Investments		SVB Securities		Total
GAAP gains (losses) on investment securities, net	$	16	$	2	$	2	$	(32)	$	32	$	62	$	18	$	100
Less: income attributable to noncontrolling interests, including carried interest allocation	5		—		1		—		—		—		8		14
Non-GAAP gains (losses) on investment securities, net of noncontrolling interests	$	11	$	2	$	1	$	(32)	$	32	$	62	$	10	$	86

Non-GAAP net gains on investment securities, net of noncontrolling interests, of $67 million for the first quarter of 2022 were driven primarily by net gains from sales of AFS fixed income securities and related terminated swaps and gains in our managed fund of funds portfolio. The gains in the managed fund of funds portfolio were driven primarily by unrealized valuation gains from private and public companies held by the funds. These increases were partially offset by $32 million of losses from sales of public equity securities with expiring lockups as well as declines in valuations reflective of the public equity market environment.

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Net gains on equity warrant assets

The following table provides a summary of our net gains on equity warrant assets:

	Three months ended
(Dollars in millions)	March 31, 2022		December 31, 2021		March 31, 2021
Equity warrant assets:
Gains on exercises, net	$	12	$	44	$	160
Terminations	(1)		—		—
Changes in fair value, net	52		25		62
Total net gains on equity warrant assets	$	63	$	69	$	222

Net gains on equity warrant assets for the first quarter of 2022 were driven by $52 million in net valuation increases reflective of private company valuation updates as well as pending SPAC and M&A activity.

At March 31, 2022, we held warrants in 2,873 companies with a total fair value of $323 million. Warrants in 54 companies each had fair values greater than $1 million and collectively represented $175 million, or 54.3 percent, of the fair value of the total warrant portfolio at March 31, 2022.

The gains (or losses) from investment securities from our non-marketable and other equity securities portfolio as well as our equity warrant assets resulting from changes in valuations (fair values) are currently unrealized, and the extent to which such gains (or losses) will become realized is subject to a variety of factors, including, among other things, performance of the underlying portfolio companies, investor demand for IPOs and SPACs, fluctuations in the underlying valuation of these companies, levels of M&A activity and legal and contractual restrictions on our ability to sell the underlying securities.  

Non-GAAP core fee income plus non-GAAP SVB Securities revenue

The following table provides a summary of our non-GAAP core fee income, non-GAAP SVB Securities revenue and non-GAAP core fee income plus SVB Securities revenue:

	Three months ended
(Dollars in millions)	March 31, 2022		December 31, 2021		March 31, 2021
Non-GAAP core fee income:
Client investment fees	$	35	$	20	$	20
Wealth management and trust fees	22		22		—
Foreign exchange fees	73		73		57
Credit card fees	37		38		28
Deposit service charges	30		30		25
Lending related fees	19		21		16
Letters of credit and standby letters of credit fees	14		12		13
Total non-GAAP core fee income	$	230	$	216	$	159
Investment banking revenue	93		124		142
Commissions	25		21		24
Total non-GAAP SVB Securities revenue	$	118	$	145	$	166
Total non-GAAP core fee income plus SVB Securities revenue	$	348	$	361	$	325

Non-GAAP core fee income increased from the fourth quarter of 2021 to the first quarter of 2022 primarily reflective of an increase in client investment fees. The increase in client investment fees of $15 million is reflective of improved fee margins resulting from higher short-term interest rates driven by the March Federal Funds Rate hike.

Non-GAAP SVB Securities revenue decreased $27 million from the fourth quarter of 2021 to the first quarter of 2022 driven primarily by a decrease in equity capital markets transactions as a result of the recent public markets volatility.

Reconciliations of our non-GAAP net gains on investment securities, non-GAAP core fee income, non-GAAP SVB Securities revenue and non-GAAP core fee income plus SVB Securities revenue are provided under the section “Use of Non-GAAP Financial Measures.”

Noninterest Expense

Noninterest expense was $873 million for the first quarter of 2022, compared to $902 million for the fourth quarter of 2021. The decrease of $29 million from the prior quarter was attributable primarily to decreases in our compensation and benefits expense, merger-related charges and other noninterest expense.

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The following table provides a summary of our compensation and benefits expense:

	Three months ended
(Dollars in millions, except employees)	March 31, 2022		December 31, 2021		March 31, 2021
Compensation and benefits:
Salaries and wages	$	236	$	217	$	163
Incentive compensation plans	194		243		150
Other employee incentives and benefits (1)	154		137		132
Total compensation and benefits	$	584	$	597	$	445
Period-end full-time equivalent employees	7,149		6,567		4,656
Average full-time equivalent employees	6,975		6,431		4,601

(1)Other employee incentives and benefits expense includes employer payroll taxes, group health and life insurance, share-based compensation, 401(k), ESOP, warrant incentive and retention plans, agency fees and other employee-related expenses.

The $13 million decrease in total compensation and benefits expense consists primarily of the following:

•A decrease of $49 million in incentive compensation plans expense attributable primarily to SVB Securities which had lower deal activity during the first quarter of 2022, partially offset by

•An increase of $19 million in salaries and wages expense due primarily to an increase in FTEs, as we continue to invest in our revenue-generating lines of business and support functions, and the impact of annual merit increases, and

•An increase of $17 million in other employee incentives and benefits driven by first quarter seasonal expense items relating to additional 401(k) matching contributions and employer-related payroll taxes as a result of the 2021 annual incentive compensation plan payments.

Merger-related charges continued to decline as we continue to progress with the integration of Boston Private.

Other noninterest expense decreased primarily due to higher charitable donations expense in the fourth quarter of 2021 driven by seasonal year-end giving campaigns.

SVBFG Stockholders’ Equity

Total SVBFG stockholders’ equity decreased by $256 million to $16.0 billion at March 31, 2022, compared to $16.2 billion at December 31, 2021. The decrease was primarily driven by other comprehensive income as unrealized losses recorded on AFS securities increased due to an increase in market rates. The decrease from unrealized losses on AFS was partially offset by an increase in the fair value of hedging instruments. The following table provides a summary of the changes in SVBFG stockholders' equity during the quarter:

(Dollars in millions)
Beginning balance at December 31, 2021	$	16,236
Net income available to common stockholders (1)	472
Other comprehensive income	(751)
Other	23
Ending balance at March 31, 2022	$	15,980

(1)Excludes $43 million of preferred dividends paid during the first quarter of 2022.

Preferred Stock

On April 21, 2022, the Company's Board of Directors declared the following quarterly preferred stock dividends payable on May 16, 2022 to holders of record at the close of business on May 1, 2022:

	Cash dividend		Cash dividend per depositary share
Series A Preferred Stock	$	13.125	$	0.328125
Series B Preferred Stock	1,025.00		10.25
Series C Preferred Stock	1,000.00		10.00
Series D Preferred Stock	1,062.50		10.625
Series E Preferred Stock	1,175.00		11.75

9    

SVB Financial and Bank Capital Ratios(1)

	March 31, 2022		December 31, 2021		March 31, 2021
SVB Financial:
CET 1 risk-based capital ratio	12.11	%	12.09	%	12.18	%
Tier 1 risk-based capital ratio	15.90		16.08		14.01
Total risk-based capital ratio	16.41		16.58		14.62
Tier 1 leverage ratio	7.70		7.93		8.01
Tangible common equity to tangible assets ratio (2)	5.38		5.73		6.06
Tangible common equity to risk-weighted assets ratio (2)	11.32		11.98		12.12
Silicon Valley Bank:
CET 1 risk-based capital ratio	14.91	%	14.89	%	12.93	%
Tier 1 risk-based capital ratio	14.91		14.89		12.93
Total risk-based capital ratio	15.44		15.40		13.56
Tier 1 leverage ratio	7.09		7.24		7.20
Tangible common equity to tangible assets ratio (2)	6.57		7.09		6.25
Tangible common equity to risk-weighted assets ratio (2)	14.10		15.06		12.88

(1)Regulatory capital ratios as of March 31, 2022 are preliminary.

(2)These are non-GAAP measures. A reconciliation of non-GAAP measures to GAAP is provided at the end of this release under the section “Use of Non-GAAP Financial Measures.”

March 31, 2022Preliminary Results

As of March 31, 2022, Tier 1 and total risk-based capital ratios for SVB Financial decreased reflective of increases in risk-weighted assets outpacing increases in regulatory capital. The increase in regulatory capital was driven primarily by net income, partially offset by Tier 1 capital deductions, including deductions from covered funds under the Volcker rule and preferred stock dividends. The increase in risk-weighted assets was driven primarily by the shift in our balance sheet growth from cash into our investment securities and loans portfolios.

The decrease in our Tier 1 leverage ratios for SVB Financial and Silicon Valley Bank are reflective of the growth in our average assets outpacing our growth in regulatory capital. The increase in regulatory capital for Silicon Valley Bank was driven primarily by net income. The increase in average assets for both SVB Financial and Silicon Valley Bank was driven primarily by growth in our investment securities and loans portfolios.

All of our reported capital ratios remain above the levels considered to be “well capitalized” under applicable banking regulations.

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Financial Outlook for the Year Ending December 31, 2022

Our outlook for the year ending December 31, 2022 is provided below on a GAAP basis, unless otherwise noted. We have provided our current outlook for the expected full year results of our significant forecasted activities based on management's assumptions and current expectations. Except for the items noted below, we do not provide an outlook for certain items (such as gains or losses from warrants and investment securities) where the timing or financial impact are particularly uncertain and/or subject to market or other conditions beyond our control (such as the level of IPO, SPAC, M&A or general financing activity), or for potential unusual or non-recurring items. The outlook and the underlying assumptions presented are, by their nature, forward-looking statements and are subject to substantial risks and uncertainties, including risks and uncertainties related to the COVID-19 pandemic and related government actions, geopolitical instability, and other factors which are discussed below under the section “Forward-Looking Statements.” Actual results may differ. (For additional information about our financial outlook, please refer to Q1 2022 Earnings Slides. See "Additional Information" below.)

For the full year ending December 31, 2022, compared to our full year 2021 results, we currently expect the following outlook (please note that the outlook below does not include and/or take into account: (i) changes in interest rates, including, but not limited to, changes in the Federal Funds or alternative reference rates, (ii) material deterioration in the overall economy, (iii) regulatory/policy changes under the current U.S. government administration, or (iv) adverse developments with respect to U.S. or global economic or geopolitical conditions and includes management's updates to certain 2022 outlook metrics we had previously disclosed on January 20, 2022):

	Prior full year 2022 outlook compared to 2021 results (as of January 20, 2022)	Current full year 2022 outlook compared to 2021 results (as of April 21, 2022)
Average loan balances	Low thirties growth	Mid-thirties growth
Average deposit balances	Low forties growth	Low forties growth
Net interest income (1)	High thirties growth	Low fifties growth
Net interest margin (1)	1.90% — 2.00%	2.10% — 2.20%
Net loan charge-offs	0.15% — 0.35% of average loans	0.15% — 0.35% of average loans
Core fee income (client investment fees, wealth management and trust fees, foreign exchange fees, credit card fees, deposit service charges, lending related fees and letters of credit fees) (2)	Mid-twenties growth	Mid-forties growth
SVB Securities revenue (2)	$625 million — $675 million	$500 million — $550 million
Noninterest expense excluding merger-related charges (3) (4)	Low twenties growth	High twenties growth
Effective tax rate (5)	25% — 27%	25% — 27%

(1)Our outlook for net interest income and net interest margin is based primarily on management's current forecast of average deposit and loan balances and deployment of surplus cash into investment securities. Such forecasts are subject to change, and actual results may differ, based on market conditions, the COVID-19 pandemic and its effects on the economic and business environments in which we operate, actual prepayment rates, geopolitical instability and other factors described under the section "Forward-Looking Statements" below.

(2)Core fee income and SVB Securities revenue are each non-GAAP measures, which collectively represent noninterest income, but exclude certain line items where performance is typically subject to market or other conditions beyond our control. As we are unable to quantify such line items that would be required to be included in the comparable GAAP financial measure for the future period presented without unreasonable efforts, no reconciliation for the outlook of non-GAAP core fee income and non-GAAP SVB Securities revenue to GAAP noninterest income for fiscal year ending 2022 is included in this release, as we believe such reconciliation would imply a degree of precision that would be confusing or misleading to investors. See "Use of Non-GAAP Financial Measures" at the end of this release for further information regarding the calculation and limitations of this measure. Core fee income does not include SVB Securities revenue. SVB Securities revenue represents investment banking revenue and commissions.

(3)Our outlook for noninterest expense is partly based on management's current forecast of performance-based incentive compensation expenses. Such forecasts are subject to change, and actual results may differ, based on our performance relative to our internal performance targets.

(4)Excludes $40 million estimated of pre-tax merger-related charges ($16 million in the first quarter of 2022, approximately $15 million in the second quarter of 2022 with the remainder in the second half of 2022).

(5)Our outlook for our effective tax rate is based on management's current assumptions with respect to, among other things, SVB Financial Group's earnings, state income tax levels, tax deductions and estimated performance-based compensation activity and does not include assumptions for potential future tax rate changes.

11    

Forward-Looking Statements

This release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to known and unknown risks and uncertainties, many of which may be beyond our control. Forward-looking statements are statements that are not historical facts, such as forecasts of our future financial results and condition, expectations for our operations and business, and our underlying assumptions of such forecasts and expectations. In addition, forward-looking statements generally can be identified by the use of such words as “becoming,” “may,” “will,” “should,” “could,” “would,” “predict,” “potential,” “continue,” “anticipate,” “believe,” “estimate,” “assume,” “seek,” “expect,” “plan,” “intend,” the negative of such words or comparable terminology. In this release, including our CEO's statement and in the section “Financial Outlook for the Year Ending December 31, 2022,” we make forward-looking statements discussing management’s expectations for 2022 about, among other things, economic conditions; the continuing and potential effects of the COVID-19 pandemic; opportunities in the market; the outlook on our clients' performance; our financial, credit, and business performance, including loan growth, loan mix and loan yields; deposit growth; expense levels; our expected effective tax rate; accounting impacts; and financial results (and the components of such results).

Although we believe that the expectations reflected in our forward-looking statements are reasonable, we have based these expectations on our current beliefs as well as our assumptions, and such expectations may not prove to be correct. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside our control. Our actual results of operations and financial performance could differ significantly from those expressed in or implied by our management’s forward-looking statements. Important factors that could cause our actual results and financial condition to differ from the expectations stated in the forward-looking statements include, among others:

•market and economic conditions (including inflation trends, interest rate volatility, the general condition of the capital and equity markets, private equity and venture capital investment, IPO, secondary offering, SPAC fundraising, M&A and other financing activity levels) and the associated impact on us (including effects on client demand for our commercial and investment banking and other financial services, as well as on the valuations of our investments);

•disruptions to the financial markets as a result of the current or anticipated impact of military conflict, including the ongoing military conflict between Russia and Ukraine, terrorism and other geopolitical events;

•the COVID-19 pandemic, including COVID-19 variants and their effects on the economic and business environments in which we operate, and its effects on our operations, including, as a result of, prolonged work-from-home arrangements;

•the impact of changes from the Biden-Harris administration and the U.S. Congress on the economic environment, capital markets and regulatory landscape, including monetary, tax and other trade policies, as well as changes in personnel at the bank regulatory agencies;

•changes in the volume and credit quality of our loans as well as volatility of our levels of nonperforming assets and charge-offs;

•the impact of changes in interest rates or market levels or factors affecting or affected by them, especially on our loan and investment portfolios;

•the adequacy of our allowance for credit losses and the need to make provisions for credit losses for any period;

•the sufficiency of our capital and liquidity positions;

•changes in the levels of our loans, deposits and client investment fund balances;

•changes in the performance or equity valuations of funds or companies in which we have invested or hold derivative instruments or equity warrant assets;

•variations from our expectations as to factors impacting our cost structure;

•changes in our assessment of the creditworthiness or liquidity of our clients or unanticipated effects of credit concentration risks which create or exacerbate deterioration of such creditworthiness or liquidity;

•variations from our expectations as to factors impacting the timing and level of employee share-based transactions;

•the occurrence of fraudulent activity, including breaches of our information security or cyber security-related incidents;

•business disruptions and interruptions due to natural disasters and other external events;

•the impact on our reputation and business from our interactions with business partners, counterparties, service providers and other third parties;

•the expansion of our business internationally, and the impact of geopolitical events and international market and economic events on us;

•the effectiveness of our risk management framework and quantitative models;

12    

•our ability to maintain or increase our market share, including through successfully implementing our business strategy and undertaking new business initiatives, including through the continuing integration of Boston Private, the expansion of SVB Private and the growth and expansion of SVB Securities;

•greater than expected costs or other difficulties related to the continuing integration of our business and that of Boston Private;

•variations from our expectations as to the amount and timing of business opportunities, growth prospects and cost savings associated with the acquisition of Boston Private;

•the inability to retain existing Boston Private clients and employees following the Boston Private acquisition;

•unfavorable resolution of legal proceedings or claims, as well as legal or regulatory proceedings or governmental actions;

•variations from our expectations as to factors impacting our estimate of our full-year effective tax rate;

•changes in applicable accounting standards and tax laws; and

•regulatory or legal changes and their impact on us.

For additional information about these and other factors, please refer to our public reports filed with the U.S. Securities and Exchange Commission, including under the caption "Risk Factors" in our most recent Annual Report filed on Form 10-K. The forward-looking statements included in this release are made only as of the date of this release. We do not intend, and undertake no obligation, to update these forward-looking statements.

Earnings Conference Call

On Thursday, April 21, 2022, we will host a conference call at 3:00 p.m. (Pacific Time) to discuss the financial results for the quarter ended March 31, 2022. The conference call can be accessed by dialing (888) 330-3016 or (646) 960-0828 and entering the confirmation number "5682116". A live webcast of the audio portion of the call can be accessed on the Investor Relations section of our website at www.svb.com. A replay of the audio webcast will also be available on www.svb.com for 12 months beginning on April 21, 2022.

Additional Information

For additional information about our business, financial results for the first quarter 2022 and financial outlook, please refer to our Q1 2022 Earnings Slides and Q1 2022 CEO Letter, which are available on the Investor Relations section of our website atwww.svb.com. These materials should be read together with this release, and include important supplemental information including key considerations that may impact our financial outlook.

About SVB Financial Group

SVB is the financial partner of the innovation economy, helping individuals, investors and the world’s most innovative companies achieve their ambitious goals. SVB’s businesses - Silicon Valley Bank, SVB Capital, SVB Private and SVB Securities - together offer the services that dynamic and fast-growing clients require as they grow, including commercial banking, venture investing, wealth planning and investment banking. Headquartered in Santa Clara, California, SVB operates in centers of innovation around the world. Learn more at svb.com/global.

SVB Financial Group (Nasdaq: SIVB) is the holding company for all business units and groups. © 2022 SVB Financial Group. All rights reserved. SVB, SVB FINANCIAL GROUP, SILICON VALLEY BANK, SVB SECURITIES, SVB PRIVATE, SVB CAPITAL, and the chevron device are trademarks of SVB Financial Group, used under license. Silicon Valley Bank is a member of the FDIC and the Federal Reserve System. Silicon Valley Bank is the California bank subsidiary of SVB Financial Group.

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SVB FINANCIAL GROUP AND SUBSIDIARIES

INTERIM CONSOLIDATED STATEMENTS OF INCOME

(Unaudited)

	Three months ended
(Dollars in millions, except share data)	March 31, 2022		December 31, 2021		March 31, 2021
Interest income:
Loans	$	570	$	544	$	430
Investment securities:
Taxable	511		392		225
Non-taxable	35		33		21
Federal funds sold, securities purchased under agreements to resell and other short-term investment securities	6		6		3
Total interest income	1,122		975		679
Interest expense:
Deposits	22		21		10
Borrowings	18		15		9
Total interest expense	40		36		19
Net interest income	1,082		939		660
Provision for credit losses	11		48		19
Net interest income after provision for credit losses	1,071		891		641
Noninterest income:
Gains on investment securities, net	85		100		167
Gains on equity warrant assets, net	63		69		222
Client investment fees	35		20		20
Wealth management and trust fees	22		22		—
Foreign exchange fees	73		73		57
Credit card fees	37		38		28
Deposit service charges	30		30		25
Lending related fees	19		21		16
Letters of credit and standby letters of credit fees	14		12		13
Investment banking revenue	93		124		142
Commissions	25		21		24
Other	21		31		30
Total noninterest income	517		561		744
Noninterest expense:
Compensation and benefits	584		597		445
Professional services	106		110		81
Premises and equipment	58		54		33
Net occupancy	23		23		18
Business development and travel	14		11		4
FDIC and state assessments	16		15		10
Merger-related charges	16		27		—
Other	56		65		45
Total noninterest expense	873		902		636
Income before income tax expense	715		550		749
Income tax expense	182		142		187
Net income before noncontrolling interests and dividends	533		408		562
Net income attributable to noncontrolling interests	(18)		(14)		(25)
Preferred stock dividends	(43)		(23)		(5)
Net income available to common stockholders	$	472	$	371	$	532
Earnings per common share—basic	$	8.03	$	6.32	$	10.20
Earnings per common share—diluted	7.92		6.22		10.03
Weighted average common shares outstanding—basic	58,800,492		58,702,618		52,180,045
Weighted average common shares outstanding—diluted	59,599,016		59,623,961		53,075,690

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SVB FINANCIAL GROUP AND SUBSIDIARIES

INTERIM CONSOLIDATED BALANCE SHEETS

(Unaudited)

(Dollars in millions, except par value and share data)	March 31, 2022		December 31, 2021		March 31, 2021
Assets:
Cash and cash equivalents	$	20,606	$	14,619	$	21,255
Available-for-sale securities, at fair value (cost $27,287, $27,370 and $26,159, respectively)	25,991		27,221		25,986
Held-to-maturity securities, at amortized cost and net of allowance for credit losses of $6, $7 and $1 (fair value of $91,667, $97,227 and $41,187), respectively	98,707		98,195		41,165
Non-marketable and other equity securities	2,605		2,543		1,858
Investment securities	127,303		127,959		69,009
Loans, amortized cost	68,665		66,276		47,675
Allowance for credit losses: loans	(421)		(422)		(392)
Net loans	68,244		65,854		47,283
Premises and equipment, net of accumulated depreciation and amortization	283		270		180
Goodwill	375		375		143
Other intangible assets, net	154		160		59
Lease right-of-use assets	302		313		234
Accrued interest receivable and other assets	3,088		1,928		4,184
Total assets	$	220,355	$	211,478	$	142,347
Liabilities and total equity:
Liabilities:
Noninterest-bearing demand deposits	$	127,997	$	125,851	$	84,440
Interest-bearing deposits	70,137		63,352		39,710
Total deposits	198,134		189,203		124,150
Short-term borrowings	99		121		39
Lease liabilities	374		388		287
Other liabilities	2,817		2,587		6,412
Long-term debt	2,571		2,570		1,338
Total liabilities	203,995		194,869		132,226
SVBFG stockholders’ equity:
Preferred stock, $0.001 par value, 20,000,000 shares authorized; 383,500 shares, 383,500 shares and 357,500 shares issued and outstanding, respectively	3,646		3,646		1,079
Common stock, $0.001 par value, 150,000,000 shares authorized; 58,840,156 shares, 58,748,469 shares and 54,001,797 shares issued and outstanding, respectively	—		—		—
Additional paid-in capital	5,180		5,157		2,591
Retained earnings	7,914		7,442		6,204
Accumulated other comprehensive (loss) income	(760)		(9)		21
Total SVBFG stockholders’ equity	15,980		16,236		9,895
Noncontrolling interests	380		373		226
Total equity	16,360		16,609		10,121
Total liabilities and total equity	$	220,355	$	211,478	$	142,347

x

15    

SVB FINANCIAL GROUP AND SUBSIDIARIES

INTERIM AVERAGE BALANCES, RATES AND YIELDS

(Unaudited)

	Three months ended
	March 31, 2022						December 31, 2021						March 31, 2021
(Dollars in millions, except yield/rate and ratios)	Average Balance		Interest Income/ Expense		Yield/ Rate		Average Balance		Interest Income/ Expense		Yield/ Rate		Average Balance		Interest Income/ Expense		Yield/ Rate
Interest-earning assets:
Federal reserve deposits, federal funds sold, securities purchased under agreements to resell and other short-term investment securities (1)	$	14,800	$	6	0.16	%	$	22,112	$	6	0.10	%	$	18,174	$	3	0.07	%
Investment securities: (2)
Available-for-sale securities:
Taxable	26,946		86		1.30		24,154		68		1.13		28,248		125		1.79
Held-to-maturity securities:
Taxable	91,758		425		1.88		81,121		324		1.58		21,590		100		1.87
Non-taxable (3)	6,919		44		2.57		6,458		41		2.50		3,705		26		2.90
Total loans, amortized cost (4) (5)	67,070		570		3.45		62,573		544		3.45		46,281		430		3.77
Total interest-earning assets	207,493		1,131		2.21		196,418		983		1.99		117,998		684		2.35
Cash and due from banks	3,475						3,018						1,547
Allowance for credit losses: loans	(432)						(419)						(484)
Other assets (6)	5,532						5,743						5,754
Total assets	$	216,068					$	204,760					$	124,815
Funding sources:
Interest-bearing liabilities:
Interest bearing checking and savings accounts	$	6,059	$	1	0.07	%	$	4,612	$	2	0.12	%	$	3,662	$	1	0.10	%
Money market deposits	55,163		19		0.14		52,177		18		0.14		30,959		9		0.11
Money market deposits in foreign offices	776		—		0.03		972		—		0.01		873		—		0.06
Time deposits	2,116		2		0.39		1,431		1		0.29		658		—		0.39
Sweep deposits in foreign offices	1,036		—		0.01		1,081		—		0.01		1,223		—		0.02
Total interest-bearing deposits	65,150		22		0.14		60,273		21		0.14		37,375		10		0.11
Short-term borrowings	3,136		1		0.18		145		—		0.16		12		—		0.07
Long-term debt	2,570		17		2.55		2,380		15		2.53		1,162		9		3.05
Total interest-bearing liabilities	70,856		40		0.23		62,798		36		0.23		38,549		19		0.20
Portion of noninterest-bearing funding sources	136,637						133,620						79,449
Total funding sources	207,493		40		0.08		196,418		36		0.08		117,998		19		0.06
Noninterest-bearing funding sources:
Demand deposits	125,568						122,789						73,233
Other liabilities	3,100						3,153						4,021
Preferred stock	3,646						3,182						817
SVBFG common stockholders’ equity	12,530						12,470						7,984
Noncontrolling interests	368						368						211
Portion used to fund interest-earning assets	(136,637)						(133,620)						(79,449)
Total liabilities and total equity	$	216,068					$	204,760					$	124,815
Net interest income and margin			$	1,091	2.13	%			$	947	1.91	%			$	665	2.29	%
Total deposits	$	190,718					$	183,062					$	110,608
Average SVBFG common stockholders’ equity as a percentage of average assets					5.80	%					6.09	%					6.40	%
Reconciliation to reported net interest income:
Adjustments for taxable equivalent basis			(9)						(8)						(5)
Net interest income, as reported			$	1,082					$	939					$	660

(1)Includes average interest-earning deposits in other financial institutions of $5.2 billion, $5.7 billion and $1.6 billion; and $9.2 billion, $16.1 billion and $14.8 billion deposited at the Federal Reserve Bank, earning interest at the Federal Funds target rate, for the quarters ended March 31, 2022, December 31, 2021 and March 31, 2021, respectively.

(2)Yields on interest-earning investment securities do not give effect to changes in fair value that are reflected in other comprehensive income or loss.

(3)Interest income on non-taxable investment securities is presented on a fully taxable equivalent basis using the federal statutory tax rate of 21.0 percent for all periods presented.

(4)Nonaccrual loans are reflected in the average balances of loans.

(5)Interest income includes loan fees of $50 million, $49 million and $58 million for the quarters ended March 31, 2022, December 31, 2021 and March 31, 2021, respectively.

(6)Average investment securities of $2.1 billion, $2.7 billion and $3.4 billion for the quarters ended March 31, 2022, December 31, 2021 and March 31, 2021, respectively, were classified as other assets as they are noninterest-earning assets. These investments consist primarily of non-marketable and other equity securities.

16    

Reconciliation of Basic and Diluted Weighted Average Common Shares Outstanding

	Three months ended
(Shares in thousands)	March 31, 2022	December 31, 2021	March 31, 2021
Weighted average common shares outstanding—basic	58,800	58,703	52,180
Effect of dilutive securities:
Stock options and employee stock purchase plan	261	286	294
Restricted stock units	538	635	602
Total effect of dilutive securities	799	921	896
Weighted average common shares outstanding—diluted	59,599	59,624	53,076

Credit Quality

(Dollars in millions, except ratios)	March 31, 2022			December 31, 2021			March 31, 2021
Nonaccrual, past due and restructured loans:
Nonaccrual loans	$	70		$	84		$	90
Loans past due 90 days or more still accruing interest	2			7			5
Total nonperforming loans	72			91			95
OREO and other foreclosed assets	1			1			1
Total nonperforming assets	$	73		$	92		$	96
Nonperforming loans as a percentage of total loans	0.10		%	0.14		%	0.20		%
Nonperforming assets as a percentage of total assets	0.03			0.04			0.07
Allowance for credit losses for loans	$	421		$	422		$	392
As a percentage of total loans	0.61		%	0.64		%	0.82		%
As a percentage of total nonperforming loans	584.72			463.74			413.51
Allowance for credit losses for nonaccrual loans	$	20		$	35		$	42
As a percentage of total loans	0.03		%	0.05		%	0.09		%
As a percentage of total nonperforming loans	27.78			38.46			44.18
Allowance for credit losses for total performing loans	$	401		$	387		$	350
As a percentage of total loans	0.58		%	0.58		%	0.73		%
As a percentage of total performing loans	0.58			0.58			0.74
Total loans	$	68,665		$	66,276		$	47,675
Total performing loans	68,593			66,185			47,580
Allowance for credit losses for unfunded credit commitments (1)	175			171			105
As a percentage of total unfunded credit commitments	0.38		%	0.39		%	0.31		%
Total unfunded credit commitments (2)	$	45,554		$	43,698		$	33,987

(1)The “allowance for credit losses for unfunded credit commitments” is included as a component of “other liabilities.”

(2)Includes unfunded loan commitments and letters of credit.

17    

Use of Non-GAAP Financial Measures

To supplement our unaudited condensed consolidated financial statements presented in accordance with GAAP, we use certain non-GAAP measures (including, but not limited to, non-GAAP core fee income, non-GAAP SVB Securities revenue, non-GAAP core fee income plus non-GAAP SVB Securities revenue, non-GAAP net gains on investment securities, non-GAAP non-marketable and other equity securities, net of investments in qualified affordable housing projects and noncontrolling interests in non-marketable securities and non-GAAP financial ratios) of financial performance. These supplemental performance measures may vary from, and may not be comparable to, similarly titled measures by other companies in our industry. Non-GAAP financial measures are not in accordance with, or an alternative for, GAAP. Generally, a non-GAAP financial measure is a numerical measure of a company’s performance that either excludes or includes amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with GAAP. A non-GAAP financial measure may also be a financial metric that is not required by GAAP or other applicable requirement.

We believe that these non-GAAP financial measures, when taken together with the corresponding GAAP financial measures (as applicable), provide meaningful supplemental information regarding our performance by: (i) excluding amounts attributable to noncontrolling interests for which we effectively do not receive the economic benefit or cost of, where indicated, or (ii) providing additional information used by management that is not otherwise required by GAAP or other applicable requirements. Our management uses, and believes that investors benefit from referring to, these non-GAAP financial measures in assessing our operating results and when planning, forecasting and analyzing future periods. These non-GAAP financial measures also facilitate a comparison of our performance to prior periods. We believe these measures are frequently used by securities analysts, investors and other interested parties in the evaluation of companies in our industry. However, these non-GAAP financial measures should be considered in addition to, not as a substitute for or superior to, net income or other financial measures prepared in accordance with GAAP. In the financial tables below, we have provided a reconciliation of, where applicable, the most comparable GAAP financial measures to the non-GAAP financial measures used in this press release, or a reconciliation of the non-GAAP calculation of the financial measure.

Additionally, from time to time, we may make reference to the non-GAAP financial metric of Core EPS in our earnings call and other investor presentations. Non-GAAP Core EPS consists of our net income available to common stockholders less gains or losses on investment securities, equity warrant assets and income and expenses related to SVB Securities, net of tax, divided by our diluted weighted average common shares outstanding. Our management believes this measure to be a useful assessment of our performance as it relates to our core business because it excludes certain financial items where performance is typically subject to market or other conditions beyond our control. A reconciliation of Core EPS to the closest corresponding GAAP measure is not available with respect to future goals due to our inability to provide a quantitative reconciliation to such measure.

In particular, in this press release, we use certain non-GAAP measures that exclude the following from net income and certain other financial line items in certain periods:

•Income and expense attributable to noncontrolling interests — As part of our funds management business, we recognize the entire income or loss from certain funds where we own less than 100 percent. We are required under GAAP to consolidate 100 percent of the results of certain SVB Capital funds. The relevant amounts attributable to investors other than us are reflected under “Net Income Attributable to Noncontrolling Interests.” Our net income available to common stockholders/certain financial line items include only the portion of income or loss related to our ownership interest.

In addition, in this press release, we use certain non-GAAP financial ratios and measures that are not required by GAAP or exclude certain financial items from calculations that are otherwise required under GAAP, including:

•Non-GAAP non-marketable and other equity securities, net of investments in qualified affordable housing projects and noncontrolling interests — This measure represents non-marketable and other equity securities but excludes qualified affordable housing projects and noncontrolling interests. We exclude qualified affordable housing projects as they are not subject to the same market volatility as our other non-marketable and other equity securities. We also exclude noncontrolling interests as we are required to consolidate 100 percent of the results of certain SVB Capital funds with the relevant amounts attributable to investors, other than us, included in "Noncontrolling interests" within our total equity.

•Non-GAAP core fee income plus SVB Securities revenue — This measure represents noninterest income but excludes certain line items where performance is typically subject to market or other conditions beyond our control. We do not provide our outlook for the expected full year results for these excluded items, which include net gains or losses on investment securities, net gains or losses on equity warrant assets and other noninterest income items.

•Non-GAAP core fee income — This measure represents noninterest income but excludes certain line items where performance is typically subject to market or other conditions beyond our control, as well as our non-GAAP SVB

18    

Securities revenue, and represents client investment fees, wealth management and trust fees, foreign exchange fees, credit card fees, deposit service charges, lending related fees and letters of credit and standby letters of credit fees. We do not provide our outlook for the expected full year results for these excluded items, which include net gains or losses on investment securities, net gains or losses on equity warrant assets and other noninterest income items.

•Non-GAAP SVB Securities revenue — This measure represents noninterest income but excludes certain line items where performance is typically subject to market or other conditions beyond our control, as well as our non-GAAP core fee income, and represents investment banking revenue and commissions. We do not provide our outlook for the expected full year results for these excluded items, which include net gains or losses on investment securities, net gains or losses on equity warrant assets and other noninterest income items.

•Tangible common equity, or tangible book value, to tangible assets ratio; tangible common equity to risk-weighted assets ratio — These ratios are not required by GAAP or applicable bank regulatory requirements and are used by management to evaluate the adequacy of our capital levels. Risk-based capital guidelines require a minimum level of capital as a percentage of risk-weighted assets. Risk-weighted assets are calculated by assigning assets and off-balance sheet items to broad risk categories. Our ratios are calculated by dividing total SVBFG stockholders’ equity, by total assets or total risk-weighted assets, as applicable, after reducing amounts by acquired intangibles, if any.

	Three months ended
Non-GAAP core fee income plus SVB Securities revenue, non-GAAP SVB Securities revenue and non-GAAP core fee income (Dollars in millions)	March 31, 2022		December 31, 2021		September 30, 2021		June 30, 2021		March 31, 2021
GAAP noninterest income	$	517	$	561	$	672	$	761	$	744
Less: gains on investment securities, net	85		100		189		305		167
Less: net gains on equity warrant assets	63		69		147		122		222
Less: other noninterest income	21		31		25		42		30
Non-GAAP core fee income plus SVB Securities revenue	348		361		311		292		325
Investment banking revenue	93		124		90		103		142
Commissions	25		21		17		17		24
Less: non-GAAP SVB Securities revenue	118		145		107		120		166
Non-GAAP core fee income	$	230	$	216	$	204	$	172	$	159

	Three months ended
Non-GAAP net gains on investment securities, net of noncontrolling interests (Dollars in millions)	March 31, 2022		December 31, 2021		September 30, 2021		June 30, 2021		March 31, 2021
GAAP net gains on investment securities	$	85	$	100	$	189	$	305	$	167
Less: income attributable to noncontrolling interests, including carried interest allocation	18		14		88		113		25
Non-GAAP net gains on investment securities, net of noncontrolling interests	$	67	$	86	$	101	$	192	$	142

	Period-end balances at
SVB Financial Group tangible common equity, tangible assets and risk-weighted assets (Dollars in millions, except ratios)	March 31, 2022			December 31, 2021			September 30, 2021			June 30, 2021			March 31, 2021
GAAP SVBFG stockholders’ equity	$	15,980		$	16,236		$	14,300		$	11,667		$	9,895
Less: preferred stock	3,646			3,646			2,064			2,064			1,079
Less: intangible assets	529			535			500			200			202
Plus: net deferred taxes on intangible assets	26			26			25			—			(1)
Tangible common equity	$	11,831		$	12,081		$	11,761		$	9,403		$	8,613
GAAP total assets	$	220,355		$	211,478		$	190,996		$	163,399		$	142,347
Less: intangible assets	529			535			500			200			202
Plus: net deferred taxes on intangible assets	26			26			25			—			(1)
Tangible assets	$	219,852		$	210,969		$	190,521		$	163,199		$	142,144
Risk-weighted assets	$	104,548		$	100,812		$	92,511		$	78,231		$	71,059
Tangible common equity to tangible assets	5.38		%	5.73		%	6.17		%	5.76		%	6.06		%
Tangible common equity to risk-weighted assets	11.32			11.98			12.71			12.02			12.12

	Period-end balances at
Silicon Valley Bank tangible common equity, tangible assets and risk-weighted assets (Dollars in millions, except ratios)	March 31, 2022			December 31, 2021			September 30, 2021			June 30, 2021			March 31, 2021
Tangible common equity	$	14,299		$	14,795		$	13,404		$	10,428		$	8,766
Tangible assets	$	217,530		$	208,576		$	188,329		$	161,197		$	140,231
Risk-weighted assets	$	101,399		$	98,214		$	89,477		$	75,795		$	68,058
Tangible common equity to tangible assets	6.57		%	7.09		%	7.12		%	6.47		%	6.25		%
Tangible common equity to risk-weighted assets	14.10			15.06			14.98			13.76			12.88

19    

EX-99.2

1 Q1 2022 Earnings Highlights SVB Financial Group Q1 2022 CEO Letter To our Stakeholders SVB delivered excellent first quarter results, with Earnings Per Share of $7.92, Net Income of $472 million and Return on Equity of 15.3 percent. Q1’22 highlights: Strong execution and higher rates drove robust earnings and profitability • Average assets increased by 6 percent during the quarter to $216 billion. • Average deposits grew by 4 percent to $191 billion, driven by strong early-stage investment and client acquisition, augmented by flexible liquidity solutions. Average total client funds were $397 billion, up 2 percent, as Q1 balances were impacted by the effects of market volatility on later-stage funding and exits, and by year-end PE/VC distributions. • Average loans grew by 7 percent to $67 billion, driven by continued strong PE investment activity and increased borrowing by technology and life science & healthcare clients. • Net interest income increased by 15%, exceeding $1 billion in a single quarter for the first time, as a result of strong balance sheet growth and improved yields on fixed income securities. • Core fee income remained strong across all categories and was marked by a significant increase in client investment fees as a result of the March rate hike. • Credit quality remained excellent with continuing solid underlying trends; we recorded a provision of $11 million driven by strong growth, underpinned by low net charge-offs and declining nonperforming loans. • SVB Securities’ revenue and market-related gains were lower as public market volatility delayed equity capital markets transactions, reduced public valuations and slowed later-stage VC investment and exits. Improved net interest income and client investment fees in the quarter more than offset this decline. Raised 2022 revenue outlook given current higher rate environment – additional potential upside if rates increase We raised our 2022 revenue outlook, as the March Fed Funds increase and higher interest rates overall accelerated net interest income and core fee income growth. We also raised our outlook for loan growth, due to strong demand from private equity, technology and life science & healthcare clients. While market volatility slowed the pace of overall client liquidity growth in the first quarter, we are reiterating our full-year 2022 deposit outlook, which had already assumed moderation from 2021’s exceptional levels. The improvements to our 2022 NII and core fee income growth outlooks more than offset our lower outlook for SVB Securities revenue, which was reduced due to the impact of public market volatility on equity capital markets activity. While we do not provide an outlook for warrant and investment gains, we expect continued moderation in these gains, especially while public markets remain volatile. At the same time, we

2 Q1 2022 Earnings Highlights expect to be relatively insulated from material valuation declines in these portfolios for several reasons: 1) we have limited direct exposure to public equities; 2) private valuations are driven by fundraising events, and many companies have substantial liquidity and are not pressured to raise equity at lower valuations; and 3) our positions are largely granular and well diversified. Our increased expense outlook reflects our plans to reinvest a portion of the additional revenue resulting from recent higher rates across our strategic priorities to drive and support long-term growth, including our Large Financial Institution journey. Future rate increases are not included in our revenue outlook, and we would not expect them to further accelerate spending on our strategic priorities. Early-stage VC trends remained healthy in Q1, but public market volatility impacted later-stage investment and exits US venture capital investment and IPOs slowed in the first quarter from 2021’s record levels, although VC investment volume of $71 billion still exceeded pre-2021 levels. Early-stage investment remained strong, despite being off Q4 2021 highs. At the same time, investment in later-stage companies was notably lower than in previous quarters, as later-stage companies raising private funding rounds felt the impact of lower public market valuations, while public listings were down 85% annualized from last year’s pace. The decline in IPO activity and VC investment, as well as the shift in VC investment towards early- stage companies, drove flat total client funds quarter over quarter due to the dollar amounts associated with IPO and later-stage fundraising events, despite continued healthy liquidity growth from our early-stage clients. We believe later-stage VC activity and IPOs are likely to remain pressured in the near term; however, in our view, the current roster of later-stage VC-backed companies is well-positioned to navigate a near-term adjustment, with strong business models, solid cash positions and long runways as the result of years of robust VC investment. If public market volatility persists, the pressure experienced by later-stage companies could trickle down to early-stage. We believe it is too soon to assume a broad pullback, given continued strong early-stage investment and fundraising, and our current outlook does not assume a slowdown. If a pullback did occur, we would expect it to be short-lived, given the record amounts of VC dry powder still on the sidelines that investors need to put to work. Over the long term, we expect the tailwinds supporting the innovation economy to remain intact and investors to continue pursuing growth opportunities in the acceleration of digital adoption, the solving of pressing problems in areas such as consumer healthcare and the environment, and the creation of new transformational sectors, such as Web3.

3 Q1 2022 Earnings Highlights Well-positioned to withstand potential impacts of public market volatility SVB has benefitted from the robust VC and PE markets of recent years, and, while we remain vigilant for signs of further weakening in VC, we are stronger and better positioned to weather market volatility than we have ever been. We have a seasoned leadership team that has managed successfully through numerous periods of changing market conditions. We have a long history of driving resilient client funds growth due, in large part, to our effective, long-term focus on client acquisition and the continuous investments we’ve made in extending and expanding our business. These investments have enabled us to build and maintain diverse sources of liquidity by meeting our clients’ needs at every stage of their growth, and to offer flexible liquidity solutions to optimize pricing and mix to drive profitable growth. Our approach has resulted in outstanding balance sheet growth over the long term, which has provided a foundation for sustainable, higher levels of net interest income. At the same time, we have diversified our revenues by broadening and deepening our business capabilities, introducing new products and services, and expanding geographically. We are seeing the power of our foundation-building today, with significant expected NII growth largely based on the balance sheet growth we’ve experienced to date. That balance-sheet driven NII growth is magnified by recent interest rate increases, and we would expect to see substantial pre-tax NII upside of $100 - $130 million annualized for every additional 25 basis point increase in the Federal Funds rate, based on our current growth outlook. On the fee income side, we would expect to see an additional $20 - $50 million of pre-tax fees tied to improved yields on our client investment funds with each additional 25 bps Fed Funds increase. While rising rates benefit us from a revenue perspective, they also highlight the effectiveness of our proactive interest rate risk management, through which we actively mitigated AFS AOCI risk to support Tangible Book Value as rates increased in Q1, while taking the opportunity to monetize a portion of our fair value hedges and rebalance the fixed income securities portfolio at higher yields. Finally, the diversity of our earnings and our growing earnings power has enabled us to build a strong capital base over time. Our vision: Be the most sought-after partner helping innovators, enterprises and investors move bold ideas forward fast We continue to focus on expanding and diversifying our business to support our clients as they grow; investing in our strategic priorities; bringing the power of the combined SVB platform to clients through our OneSVB collaboration initiative; and remaining the financial partner of choice for innovators, enterprises, and investors globally.

4 Q1 2022 Earnings Highlights In addition to our strong financial results, we continue to see early wins and growing momentum from our recently hired investment banking teams, as well as strengthening collaboration between our investment banking, commercial banking and private banking teams. Our larger balance sheet and expanded capabilities and partnerships are enabling us to win larger deals, provide larger loan amounts, and accelerate our pipeline growth. As part of our growth journey, this week we announced that SVB is now our official enterprise brand, as the premiere comprehensive financial services partner dedicated to the innovation economy. Through the combined power of our four core businesses – Silicon Valley Bank, SVB Private, SVB Securities and SVB Capital – and our deep expertise and powerful network of relationships, we support our clients at every stage of their growth and wealth journeys. Summary We are pleased with our first quarter performance and with the opportunities we see in 2022, despite broader market volatility. We are not surprised to see liquidity moderate in the innovation markets, given 2021’s historic highs and economic uncertainty, but we believe demand for investment in the fastest growing segment of the global economy will remain robust, and our markets and our business will thrive over the long term. With the backdrop of our strong financial performance, we will continue to focus on being there for our clients, maintaining our momentum, and seizing the opportunities ahead of us. With excellent earnings power, a diversified business model, and a unique role in helping the world’s most dynamic companies succeed, we remain well-positioned for long-term growth. Greg Becker President and CEO This Q1 2022 CEO Letter should be reviewed together with our Q1 2022 Earnings Release and Earnings Presentation, as well as SVB’s SEC filings.

Q1 2022 Financial Highlights April 21, 2022

Q1 2022 FINANCIAL HIGHLIGHTS 2 3 Snapshot and current environment 20 Performance detail and outlook drivers 34 Appendix 54 Non-GAAP reconciliations This presentation should be reviewed with our Q1 2022 Earnings Release and Q1 2022 CEO Letter, as well as the company’s SEC filings. Contents

Snapshot and current environment Q1 2022 FINANCIAL HIGHLIGHTS 3

1. Net interest income presented on a fully taxable equivalent basis. 2. Non-GAAP financial measure. See “Use of non-GAAP Financial Measures” in our Q1 2022 Earnings Release and our non-GAAP reconciliations at the end of this presentation. 3. Represents investment banking revenue and commissions. Q1’22 snapshot: Strong execution and higher rates drove robust earnings and profitability Financial highlights *includes –$0.20 impact from Q1’22 performance % changes are vs. Q4’21 $118M -19% SVB Securities revenue2, 3 $67B +7% Average loans $397B +2% Average client funds $11M -77% Provision for credit losses $1.1B +15% Net interest income1 EPS: $7.92* ROE: 15.28% Net Income: $472M $230M +6% Core fee income2 $130M -16% Warrant and investment gains net of NCI2 $16M Pre-tax merger-related charges Q1 2022 FINANCIAL HIGHLIGHTS 4

Q1 2022 FINANCIAL HIGHLIGHTS 5 Q1’22 highlights * Non-GAAP financial measure. See “Use of non-GAAP Financial Measures” in our Q1 2022 Earnings Release and our non-GAAP reconciliations at the end of this presentation. 1. Strong execution and higher rates drove robust NII and core fee income* growth 2. Public market volatility impacted later-stage investment and exits; early-stage investment and client acquisition remained strong 3. Healthy deposit growth driven by continued strong early-stage trends and flexible liquidity solutions; slight increase in average total client funds QoQ as liquidity environment moderated 4. Robust loan growth driven by continued PE investment activity and increased Technology and Life Science/Healthcare borrowing 5. Higher rates improved fixed-income portfolio yield as slower estimated prepayment speeds reduced premium amortization expense, but had minimal impact to TBV* due to past actions to mitigate AOCI risk 6. Repositioned $5B securities to take advantage of higher rates, monetizing $204M swap gains and selling the hedged securities, resulting in a net gain of $49M; reinvested sale proceeds into higher yielding, more liquid securities to increase future NII 7. Higher client investment fee margin from March rate hike drove robust core fee income growth 8. Lower SVB Securities revenue* and market-related gains as public market volatility delayed equity capital markets transactions, reduced valuations of public equity positions and slowed later-stage VC investment and exits 9. Excellent credit performance with low NCOs and declining NPLs 10. Raised 2022 revenue outlook to reflect improved rate environment since 1/20/22 (future rate increases not included in outlook); reinvesting part of the increase in our strategic priorities to drive and support long-term scalable growth

Clients Silicon Valley Bank Global commercial banking Q1 2022 FINANCIAL HIGHLIGHTS 6 Our vision: Be the most sought-after partner helping innovators, enterprises and investors move bold ideas forward, fast New Tech, Healthcare Services & HealthTech hires , and have bolstered organic initiatives to expand and deepen our global platform M&AStrategic partnerships talent acquisition SVB Securities Investment banking SVB Private Private banking and wealth management SVB Capital Venture capital and credit investing OneSVB: Delivering the combined power of our platform to meet clients’ needs at all stages

Q1 2022 FINANCIAL HIGHLIGHTS 7 Raised 2022 revenue outlook given current higher rate environment – additional potential upside if rates increase Outlook considerations • Raised FY’22 revenue outlook as March rate hike and overall higher rates since 1/20/22 accelerate NII and core fee income growth – future increases in rates would drive additional potential upside • While public market volatility has impacted later-stage fundraising and exits, early-stage trends remain healthy, and the long-term tailwinds supporting the innovation economy still hold • Our business is well-positioned to withstand the potential impacts of public market volatility, as clients are well- capitalized, and improved NII and core fee income growth more than offsets moderating SVB Securities revenue and warrant and investment gains • Reinvesting part of the revenue increase in our strategic priorities to drive and support long-term scalable growth (see page 18); while rising rates would further enhance our potential earnings power, currently we would not expect to increase our FY’22 expense growth outlook with future hikes • Outlook excludes impact of potential changes related to interest rates, material deterioration in the overall economy, adverse developments with respect to U.S. or global economic or geopolitical conditions, and regulatory/policy changes under the current U.S. government administration Note: Actual results may differ. For additional information about our financial outlook, please refer to our Q1 2022 Earnings Release and Q1 2022 CEO Letter. 1. Excludes fully taxable equivalent adjustments. 2. Non-GAAP financial measure. See “Use of non-GAAP Financial Measures” in our Q1 2022 Earnings Release and our non-GAAP reconciliations at the end of this presentation. 3. Excludes SVB Securities revenue. 4. Represents investment banking revenue and commissions. 5. Excludes ~$40M estimated pre-tax merger-related charges ($16M in Q1’22, ~$15M in Q2’22 and the remainder in 2H’22). Business driver FY’21 results 1/20/22 outlook FY’22 vs. FY’21 4/21/22 outlook FY’22 vs. FY’21 Average loans $54.5B Low 30s % growth Mid 30s % growth Average deposits $147.9B Low 40s % growth Low 40s % growth Net interest income1 $3,179M High 30s % growth Low 50s % growth Net interest margin 2.02% 1.90–2.00% 2.10-2.20% Net loan charge-offs 0.21% 0.15–0.35% 0.15–0.35% Core fee income2, 3 $751M Mid 20s % growth Mid 40s % growth SVB Securities revenue2, 4 $538M $625–675M $500–550M Noninterest expense excluding merger-related charges5 $2,941M Low 20s % growth High 20s % growth Effective tax rate 26.2% 25–27% 25–27%

U.S. seed, angel & early-stage VC investment $B 20 24 26 35 27 - 5 10 15 20 25 30 35 40 Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 0 5,000 10,000 15,000 20,000 25,000 30,000 35,000 40,000 2018 2019 2020 2021 Q1'22 Q1 2022 FINANCIAL HIGHLIGHTS 8 Early-stage trends remain healthy; public markets volatility impacting later-stage investment and exits Note: VC and public listing data sourced from PitchBook. Investment data has been updated with PitchBook’s proprietary back-end data set and filers which has resulted in prior period revisions. 1. Nasdaq 100 Index used as a proxy for technology markets. Other PE/VC VC- backed Pre-VC- backed 57 58 62 61 44 108 237 160 168 24 165 295 222 229 68 0 100 200 300 Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Later- stage VC Public listing S&P 500 ex Nasdaq-100 0.92x As of 3/31/22 Nasdaq-1001 0.91x Public tech volatility driving slowdown in later-stage investment and exits Continued robust client acquisition + strong early-stage investment SVB commercial client count ~1,700 new clients in Q1’22 Indexed price % vs. 12/31/21 U.S. later-stage VC investment & VC-backed public listings $B

Business driver Potential risk Potential mitigants Expected impact for FY’22 Deposits Slowing deposit growth • On- vs. off-balance sheet flexibility • Ability for clients to slow cash burn rates • Significant PE/VC dry powder that needs to be deployed Maintaining low 40s % outlook Loans Muted GFB capital call lending activity • Significant dry powder to support PE/VC deal activity (and related capital call borrowing) • Increased Tech & Life Science/HC loan demand if equity is less available Increasing outlook to mid 30s % Credit Deteriorating Investor Dependent credit performance • Record VC investment over the past 2 years has extended client runway • Improved risk profile of loan portfolio and strong capital position Maintaining 0.15-0.35% NCO outlook Core fee income* Weaker FX, card, loan syndication and WM&T fees • Higher client investment fee margin offsets impact of lower activity • Wealth advisor hiring and Commercial Bank referrals support AUM • Significant dry powder to support PE/VC deal activity (and related FX transactions) Increasing outlook to mid 40s % growth Investment banking Declining ECM transactions • New M&A capabilities partially offset softer ECM activity Decreasing SVB Securities revenue* outlook to $500-550M Decline is more than offset by improved NII and core fee income outlooks Warrants, non-marketable and other equity securities Volatile or negative gains • Limited direct public equity exposure • Strong client liquidity mitigates need to raise equity at lower valuations • Granular, diversified positions Gains to moderate from 2021’s exceptional levels and may be volatile QoQ Q1 2022 FINANCIAL HIGHLIGHTS 9 Well-positioned to withstand potential impacts of public market volatility * Non-GAAP financial measure. See “Use of non-GAAP Financial Measures” in our Q1 2022 Earnings Release and our non-GAAP reconciliations at the end of this presentation.

S&P 500 ex Nasdaq-100 1.6x As of 3/31/22 Nasdaq-1001 2.3x Significant dry powder to support future investment Attractive long-term growth opportunity + acceleration of digital 1,251 1,365 1,660 1,810 1,798 2018 2019 2020 2021 Q1'22 221 261 328 435 478 2018 2019 2020 2021 Q1'22 Indexed price % vs. 1/1/18 Q1 2022 FINANCIAL HIGHLIGHTS 10 Long-term tailwinds supporting the innovation economy remain intact Note: Market data sourced from FactSet. VC and PE dry powder data sourced from Preqin. VC and PE dry powder data has been updated with Preqin’s proprietary back-end data set and filters which has resulted in prior period revisions. 1. Nasdaq 100 Index used as a proxy for technology markets. 2. Source: Refinitiv. Historical revenue growth for companies included in the Nasdaq-100 and S&P 500 (excluding Nasdaq-100 companies) as of March 31, 2022. Revenue growth2 % vs. 12/31/17 3/31/22 As of 12/31/21 Nasdaq-1001 1.8x S&P 500 ex Nasdaq-100 1.3x Global VC dry powder $B Global PE dry powder $B 1/1/18

17 20 21 16 16 18 20 24 30 39 43 51 75 92 117 181 206 4 4 5 9 12 15 18 20 28 37 39 43 48 55 75 148 191 21 24 26 25 28 33 38 44 58 76 82 94 123 147 192 329 397 24% 15% 9% -4% 9% 20% 14% 15% 33% 29% 9% 15% 31% 19% 31% 71% 25% 28% -2% -25% 15% 42% -8% 18% 51% 16% -4% 7% 63% 0.2% 15% 98% -200% -150% -100% -50% 0% 50% 100% 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Q1'22 Global financial crisis VC recalibration* COVID-19 pandemic Q1 2022 FINANCIAL HIGHLIGHTS 11 Resilient client funds growth over the long-term Total average client funds $B Annual total client funds growth rate (positive, negative) On-balance sheet deposits Annual U.S. VC investment growth rate (positive, negative)Off-balance sheet client funds Q1’22 vs. Q4’21 QoQ growth Average client funds +2% U.S. VC investment -26% Note: VC investment data sourced from PitchBook. Investment data has been updated with PitchBook’s proprietary back-end data set and filters which has resulted in prior period revisions. * Pullback in VC investment.

Q1 2022 FINANCIAL HIGHLIGHTS Strong liquidity franchise Uniquely positioned to drive profitable growth 40+ liquidity management products to meet clients’ needs and optimize pricing and mix Robust liquidity solutions, on- and off-balance sheet Diversified sources of liquidity from high-growth markets 27% 17%9% 3% 20% 16% 7% 1% 23% 34% 25% 9% 3% 6% Deposits OBS client funds Early stage life science/ healthcare Early stage technology Private Bank International2 Life science/ healthcare Technology Other U.S. Global Fund Banking Client niche1: 1. As of March 31, 2022. Represents management view of client niches. 2. International balances do not tie to regulatory definitions for foreign exposure. Includes clients across all client niches and life stages, with International Global Fund Banking representing 3% of total client funds. 3. Actual balances depend on timing of fund flows. On- vs. off-balance sheet considerations Bank tier 1 leverage ratio 7-8% internal target Profitable spread income ~2.50-2.75% expected new purchase yields + low cost of deposits enables healthy margins Liquidity Targeting Fed cash at 4-6% of total deposits ($8-12B)3 On-balance sheet deposit growth Low 40s % FY’22 average deposit growth outlook Ability to support growth on- or off- balance sheet, while optimizing pricing and mix 66% of Q1’22 average deposits are noninterest-bearing $191M Q1’22 average deposits 5 bps Q1’22 average cost of deposits 51% YoY average client funds growth (Q1’22 vs. Q1’21) $206M Q1’22 average OBS client funds Flexible liquidity solutions + substantial OBS balances can help support deposit growth 12

0.4 0.4 0.4 0.4 0.5 0.6 0.7 0.9 1.0 1.2 1.4 1.9 2.1 2.2 3.2 1.1 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 5 6 10 14 17 19 21 31 39 42 47 53 60 81 158 207 0 50 100 150 200 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Q1'22 Q1 2022 FINANCIAL HIGHLIGHTS 13 Balance sheet growth to date provides foundation to drive sustainable NII NII Estimated based on FY’22 outlookNIM Average Fed Funds rate Low 50s % FY’22 NII growth outlook See page 7 for more information 1. Q1’22 vs. Q1’21 percentage change. 2. Net interest income presented on a fully taxable equivalent basis. 3. Represents Q1’22 NII. Net interest income2 $B 76% Q1’22 YoY growth rate in average interest- earning assets1 Average interest-earning assets $B Average cash Average investment securities Average loans 3

Significant potential revenue upside if rates continue to increase Estimated increase in annualized pre-tax client investment fees and fee margin3: +~$90-110M1 +~$20-50M +1-2 bps Each subsequent 25 bp increase in short-term rates Estimated increase in annualized pre-tax NII for each 25 bp increase in rates +~$10-20M2 NII increase assuming static balance sheet Additional NII benefit assuming FY’22 growth outlook Total NII benefit +~$100-130M 1. Equivalent to +10.2% NII sensitivity for the expected 12-month impact of a +100 bp rate shock on net interest income. Management’s sensitivity analysis is based on a static balance sheet, in size and composition, as of March 31, 2022 and is subject to assumptions, including a 60% beta on interest-bearing deposits and an instantaneous and sustained parallel shift in rates. Actual results may differ. 2. Assumes growth in average loans and average deposits consistent with our FY’22 outlook (see page 7) and that securities paydowns (~$2-3B/quarter) and excess balance sheet growth is reinvested in securities until Fed cash target is met (4-6% of total deposits). 3. Based on Q1’22 off-balance sheet client investment fund average balances. Q1 2022 FINANCIAL HIGHLIGHTS 14 +~$220M +10-11 bps March 25 bp increase annualized

Q1 2022 FINANCIAL HIGHLIGHTS 15 Proactive interest rate risk management Expect improved new purchase yields given higher rates 1. Non-GAAP financial measure. See “Use of non-GAAP Financial Measures” in our Q1 2022 Earnings Release and our non-GAAP reconciliations at the end of this presentation. 2. Estimate that 3/31/22 SVBFG TBV would have been ~$2.5B lower if fixed income portfolio mix had been maintained at 65% AFS / 35% HTM (consistent with 12/31/20 mix) and no receive-floating swaps had been added. 3. Included in FY’22 NII outlook. Past actions to manage AOCI risk helped support TBV1 as rates increased in Q1 Only 22% of fixed-income securities in AFS Reduced AFS exposure by emphasizing HTM purchases and transferring securities from AFS to HTM in 2021 $11B Fair value hedges Added receive-floating swaps in 2021 to mitigate decreases in AFS fair value resulting from rising rates Rising rates in Q1 presented opportunity to monetize AFS hedges and rebalance securities $49M Net pre-tax realized gains From unwind of $5B receive- floating swaps (at a $204M gain) and sale of related AFS securities ~$37M Increase in annual NII From reinvestment of AFS sale proceeds into higher-yielding 3-year UST securities3 ~$259M Pre-tax unrealized gains From remaining $6B receive-floating swaps outstanding as of 3/31/22 ~3.5y Target duration Flat to inverted yield curve limits benefit of extending duration ~2.50-2.75% Expected new purchase yields (vs. ~1.65-1.75% at 1/20/22) Primarily investing in liquid, government/ agency-guaranteed securities Majority of new purchases in AFS Maximize ALM flexibility and satisfy LFI requirements Protected TBV by ~$2.5B in Q1’222 As of 12/31/21

10.5 11.9 15.4 33.3 40.0 2.4 3.1 3.6 4.4 5.4 $12.9 $15.0 $19.0 $37.7 $45.4 2018 2019 2020 2021 Q1'22 Total deposits OBS client funds Q1 2022 FINANCIAL HIGHLIGHTS 16 Diversification supports growth and profitability Note: International activity reflects figures for our international operations in the U.K., Europe, Israel, Asia and Canada. This management segment view does not tie to regulatory definitions for foreign exposure. * Non-GAAP financial measure. See “Use of non-GAAP Financial Measures” in our Q1 2022 Earnings Release and our non-GAAP reconciliations at the end of this presentation. 642 603 751 230 252 481 538 118 516 894 1,084 1,289 348 2018 2019 2020 2021 Q1'22 SVB Securities revenue Core fee income $57 $70 $80 $117 $35 2018 2019 2020 2021 Q1'22 Warrant gains 50 87 335 521 67 89 138 237 560 63 139 225 572 1,081 130 2018 2019 2020 2021 Q1'22 Investment securities gains Gains expected to moderate from 2021’s exceptional levels and may be volatile QoQ; lower gains more than offset by expected NII growth $10B International average loans 14% of total loans Investments diversifying revenues • Client acquisition • Wealth management • Investment banking • SVB Capital funds • International expansion • Digital banking • Liquidity solutions • FX and payments • New products & expertise $2.9 $4.0 $5.7 $8.3 $9.7 2018 2019 2020 2021 Q1'22 Core fees and SVB Securities revenue* $M $45B International average total client funds 11% of total client funds Warrant and investment gains Net of NCI* $M $35M International core fee income 15% of total core fees

Silicon Valley Bank capital ratios1 As of 3/31/22 17 Strong capital position with multiple levers to support capital ratios 7.00% 8.50% 10.50% 4.00% 14.91% 14.91% 15.44% 7.09% Common Equity Tier 1 Tier 1 Capital Total Capital Tier 1 Leverage SVB capital ratio Regulatory minimum Levers to support capital ratios Targeting 7-8% Bank Tier 1 leverage Q1’22 Bank capital ratio drivers • Strong earnings and robust balance sheet growth • No downstream of SVBFG liquidity to Bank in Q1 1. Ratios as of March 31, 2022 are preliminary. 2. Excludes $1.1B shares issued on July 1, 2021 to complete Boston Private acquisition. 15% Q1’22 ROE Strong profitability builds capital 40+ liquidity solutions Robust liquidity solutions on- and off- balance sheet help manage growth $2B 3/31/22 SVBFG liquidity SVBFG liquidity a portion of which can be downstreamed to Bank $3.4B Preferred stock Capital markets activity to support growth $1.7B Senior notes $2.4B Common stock2 FY’21 new issuances Amounts are gross of fees Q1 2022 FINANCIAL HIGHLIGHTS

Raising FY’22 noninterest expense growth outlook (excluding merger-related charges) to high 20s % Currently do not expect to further increase our FY’22 expense growth outlook with future rate hikes Q1 2022 FINANCIAL HIGHLIGHTS 18 Improved revenue outlook provides opportunity to further accelerate investments across our strategic priorities OneSVB collaboration initiative to deliver the full power of the SVB platform to clients nCino credit onboarding platform Agile ways of working Mobile and collaboration tools Client and industry insights Global Delivery Centers Diversity, Equity & Inclusion initiatives Large Financial Institution regulatory requirements (Category IV (>$100B in average total consolidated assets); preparing for Category III*) Data foundation Cybersecurity U.K. subsidiarization requirements End-to-end digital banking platform Digital client onboarding Technology platform upgrades APIs and payment enablement Strategic partnerships to accelerate product delivery * Category III standards will become applicable at >$250B in average total consolidated assets or >$75B in weighted short-term wholesale funding, nonbank assets or off-balance-sheet exposure. Talent attraction, retention and development SVB Securities expansion SVB Private integration and go-to-market strategy Strategic investments Client acquisition New products and product penetration Fintech strategy Geographic expansion New SVB Capital funds Strategic priorities to drive and support long-term scalable growth Enhance client experience Drive revenue growth Improve employee enablement Enhance risk management

Q1 2022 FINANCIAL HIGHLIGHTS 19 Attractive long-term growth opportunity 1. Based on cash, fixed income investment portfolio and Global Fund Banking and Private Bank loan classes of financing receivables as of March 31, 2022. 2. Long-term financial objectives are not specific to our FY’22 outlook. Long-term financial objectives2 ~15% ROE Low rate environment (0-2.50% Fed Funds rate) ~10% EPS growth annualized ~20% ROE ~20% EPS growth annualized Normalized rate environment (>2.50% Fed Funds rate) Rising rate environment ~10% EPS growth annualized Industry-leading growth and profitability Robust, resilient markets Innovation is driving economic growth, and digital adoption and activity in healthcare are accelerating Robust earnings power Industry-leading growth and profitability Diversified revenue streams to drive earnings through rate and economic cycles Proven leadership Deep bench of proven leaders delivering sustainable growth, supported by strong global team Strong capital management and ample liquidity Ability to support growth and manage shifting economic conditions while investing in our business Strong credit and asset quality Long track record of strong underwriting and resilient credit performance 88% of assets in high-quality investments and low credit loss experience lending1 Growth investments Expanding and deepening platform to meet innovation clients’ needs at all stages Enhancing our systems, infrastructure and processes to support our continued growth Differentiated business model Increasing clients’ probability of success through the combined power of our four core businesses, our deep expertise and long-standing innovation economy relationships Unique liquidity franchise Powerful client funds franchise generates robust, low cost deposit growth

Performance detail and outlook drivers Q1 2022 FINANCIAL HIGHLIGHTS 20

VC fundraising and investment • Promote new company formation which helps support client acquisition • Source of client liquidity which impacts total client funds growth • A source of repayment for Investor Dependent loans PE fundraising and investment • Primary driver of capital call line demand which has been the largest source of loan growth over the past 8 years Exit activity • Proceeds from public market and M&A exits generate client liquidity • A source of repayment for Investor Dependent loans • Ability for companies to exit affects VC/PE fundraising and investment • Impacts investment banking revenue and value of warrants and investment securities Capital markets • Performance and volatility of public, private and fixed income markets impact exit activity, market-driven revenues (FX, loan syndications, investment banking revenue and commissions, warrant and investment gains and wealth management and trust fees) and VC/PE fundraising and investment Interest rates • Level of interest rates and shape of yield curve directly impact NIM via lending and investment yields/spreads vs. funding costs • Client investment fees move with short-term rates • Affect mortgage and securities prepayment speeds, impacting timing of premium amortization • Impact clients’ preference for on- vs. off-balance sheet liquidity solutions and interest-bearing vs. noninterest-bearing deposits • Affect mortgage demand Economic environment • Affects health of clients which determines credit quality • Level of business activity drives client liquidity and demand for our products and services • Inflation impacts costs (for us and clients) and influences fiscal and monetary policy decisions Competitive landscape • Affects margins and client acquisition • Impacts compensation to attract and retain talent Political environment • Current administration and Congress will influence economic policy and stimulus, business and market sentiment, global trade relationships, bank regulations and corporate taxes • Geopolitical events can impact capital markets and economic environment Q1 2022 FINANCIAL HIGHLIGHTS 21 Key external variables to our forecast Our performance is influenced by a variety of external variables, including but not limited to:

Q1 2022 FINANCIAL HIGHLIGHTS 22 Healthy deposit growth – despite moderating total client funds – augmented by flexible liquidity solutions; Maintaining low 40s % FY’22 average deposit growth outlook Average client funds $B • Continued strong early-stage investment and client acquisition fueled healthy deposit growth, augmented by flexible liquidity solutions that shifted off- balance sheet client funds on-balance sheet • Moderating total client funds (average +2%, EOP flat) as public market volatility slowed later-stage fundraising and exits and year-end PE/VC distributions impacted Q1 balances • Deposit costs remained at industry-leading lows (+1 bp QoQ) Q1’22 activity Healthy early-stage trends Continued strong early-stage VC investment and robust client acquisition support liquidity growth + China policy changes Slows investment in Chinese companies– Deposit growth: FY’22 outlook key assumptions Average deposit mix and pricing 152 174 191 208 206 73 92 110 123 126 37 42 54 60 65 262 308 355 391 397 Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 0.04% 0.04% 0.05% 0.04% 0.05% 66.2% 68.4% 67.1% 67.1% 65.8% 50% 52% 54% 56% 58% 60% 62% 64% 66% 68% 70% 0.00% 0.02% 0.04% 0.06% 0.08% 0.10% Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Off-balance sheet client funds Noninterest-bearing deposits Interest-bearing deposits Percent of noninterest-bearing deposits Total cost of deposits +51% YoY Robust liquidity solutions and substantial OBS balances Provide flexibility to support on-balance sheet deposit growth+ Near-term pressure on later-stage fundraising and exits Primary drivers of exceptional liquidity growth in 2021– 7 bps cost of deposits at 3/31/22 Significant PE/VC dry powder That needs to be deployed+ Cost of deposits: Increased demand for interest-bearing products Given current higher rate environment+ Higher cost of interest-bearing deposits NII sensitivity model assumes 60% beta on interest-bearing deposits, consistent with our experience over the 2015-2018 rising rate cycle +

53.5 72.3 93.8 111.7 125.6 1.90% 1.57% 1.55% 1.54% 1.79% 0.0 20.0 40.0 60.0 80.0 100.0 120.0 140.0 Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 14.8 16.7 15.9 16.1 9.2 3.4 4.4 5.9 6.0 5.6 18.2 21.1 21.8 22.1 14.8 Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q1 2022 FINANCIAL HIGHLIGHTS 23 Repositioned securities portfolio to take advantage of rising rates * Actual balances depend on timing of fund flows. Average fixed income investment securities $B • Monetized $204M gains from $5B AFS hedges and sold underlying hedged securities, resulting in a net gain of $49M • Reinvested AFS sale proceeds and HTM paydowns, purchasing $10B securities (primarily USTs and agency MBS) at improved yields (2.22% weighted average new purchase yield, 4.3y duration) Q1’22 activity Improved new purchase yields Expect new purchase yields ~2.50-2.75% (vs. 1.65-1.75% at 1/20/22) Estimated ~$2.0-3.0B paydowns per quarter + High-quality credit investments Opportunistically buying strong credit-quality munis and corporate bonds in HTM to support portfolio yields + Average cash and equivalents $B Tax-effected Yield Yields +25 bps QoQ as higher rates slowed estimated prepayment speeds, reducing premium amortization expense• Primarily investing in government/agency-guaranteed securities, emphasizing AFS purchases in the near term to maximize ALM flexibility and satisfy LFI liquidity requirements • Buying ~3.5y securities as flat to inverted yield curve limits benefit of extending duration • Expect average FY’22 portfolio yield to be ~1.80-1.90%. Key assumptions: FY’22 securities strategy 4.8y 4.5y 4.5y 4.0y 4.9y Portfolio duration 4.3y 3.9y 4.0y 3.7y 4.8y Hedge-adjusted Fed cash Cash in other financial institutions and foreign central banks $13B Fed Cash at 3/31/22 Targeting Fed cash at 4-6% of total deposits ($8-12B)* Average securities +12% QoQ driven by late Q4’21 purchases Premium amortization expense From prepayments of securities purchased at a premium If 10-year UST dropped below 2%, expect an in-year increase in premium amortization expense of ~$40-60M – Rate protections $6B receive-floating swaps on AFS portfolio at 8 bps cost (as of 3/31/22) –

26.3 29.1 31.9 34.4 38.1 11.8 12.4 12.7 13.2 14.0 5.0 5.2 8.2 8.6 9.0 1.6 1.7 1.8 2.0 1.8 1.4 1.4 1.3 2.7 2.7 2.7 1.6 1.4 0.6 0.3 0.2 46.3 49.8 59.3 62.6 67.1 Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 PE investment activity and increased Technology and Life Science/Healthcare borrowing drove robust loan growth; Raising FY’22 average loan growth outlook to mid 30s % on strong pipelines Average Loans $B • Robust loan growth (average +7% QoQ, EOP +4% QoQ) led by strong GFB capital call lending • Market volatility increased demand for Technology and Life Science/Healthcare loans • Strong mortgage originations (~$770M, in-line QoQ) driven by refinance activity in reaction to rising rates Loan growth: Boston Private purchase accounting Amortization of fair value mark ups on loans ($50M remaining at 3/31/22, vast majority to be amortized by end of 2023) – Strong SVB Private loan growth, enhanced by Boston Private integration Targeting ~$16-17B total balances at year-end, led by mortgage lending (SVB Private loan target includes Private Bank, CRE, Other C&I, Premium Wine and Other loan classes)1 + Significant PE/VC dry powder That needs to be deployed, ultimately fueling GFB capital call line borrowing+ Robust tech and life science/HC pipelines Increased demand in response to public market volatility+ Q1’22 activity FY’22 outlook key assumptions 3.45% 3.45% (0.01%) (0.01%)0.02% Q4'21 loan yield Rate hike Loan yield compression Loan fees (PPP and prepays) Q1'22 loan yield Global Fund Banking Private Bank PPP Premium Wine and Other Tech and Life Science/HC Average Loan Yield CRE Other C&I Loan yields: Shifting loan mix Growth driven by lower yielding GFB and Private Bank mortgages– Spread compression From increasing competition and higher rates– Rate protections $101M remaining locked-in pre-tax swap gains as of 3/31/222 $21B active loan floors as of 3/31/223 + 1. SVB Private loan target updated to reflect inclusion of Premium Wine class in SVB Private segment reporting beginning Q1’22. Premium Wine loans ($1.0B at 3/31/22) were previously reported in Global Commercial Bank segment reporting. 2. Expect vast majority of remaining pre-tax gains from $5B swap unwind in Q1’20 to be reclassified from OCI to loan interest income by the end of 2023. 3. 3.04% weighted average floor rate. $58M expected benefit from in-the-money floors based on a weighted average maturity of 1.3 years. 58.4% 58.2% 60.4% 60.3% 60.1% Portfolio utilization Higher loan yields from March rate hike 92% of Q1’22 average loans were variable rate+ Higher loan rates Impact mortgage refinance demand– Q1 2022 FINANCIAL HIGHLIGHTS 24 Near-term pressure on later-stage fundraising and exits Moderating related PE/VC investment activity–

947 1,091 (11) (4) 68 54 2 35 Q4'21 NII Higher fixed income yields Fixed income growth Higher loan yields Loan growth & mix shift Day count Funding costs Q1'22 NII Q1 2022 FINANCIAL HIGHLIGHTS 25 Growth in interest-earning assets and higher rates drove robust NII growth Raising FY’22 NII growth outlook to low 50s % and FY’22 NIM outlook to 2.10-2.20% given current higher rates – additional potential upside if rates increase Shifting loan mix Growth driven by lower yielding GFB and Private Bank mortgages– FY’22 outlook key assumptionsNet Interest Income1 $M NII +15% QoQ Net Interest Margin 1.91% 2.13% 0.14% 0.05% 0.03% Q4'21 NIM Higher rates Fixed income growth/ lower cash Loan growth & mix shift Q1'22 NIM 1. NII is presented on a fully taxable equivalent basis, while NII guidance excludes fully taxable equivalent adjustments. 2. Expect vast majority of remaining pre-tax fair value gains from $5B swap unwind in Q1’20 to be reclassified from OCI to loan interest income by the end of 2023. 3. 3.04% weighted average floor rate. $58M expected benefit from in-the-money floors based on a weighted average maturity of 1.3 years. Reduction in Fed cash Targeting 4-6% of total deposits – actual balances depend on timing of fund flows+ Improved new purchase yields Expect new purchase yields ~2.50-2.75% (vs. 1.65-1.75% at 1/20/22) Estimated ~$2.0-3.0B paydowns per quarter + Spread compression From increasing competition and higher rates– Balance sheet growth Driven by strong client liquidity+ Higher loan yields from March rate hike 92% of Q1’22 average loans were variable rate+ + – Rate protections (+ for loan yields, - for securities yields) $101M remaining locked-in pre-tax swap gains as of 3/31/222 $21B active loan floors as of 3/31/223 $6B receive-floating swaps on AFS portfolio at 8 bps cost (as of 3/31/22) Boston Private purchase accounting Amortization of fair value mark ups on loans ($50M remaining at 3/31/22, vast majority to be amortized by end of 2023) – Higher deposit costs (but still low vs. peers) As demand for interest-bearing products increases and interest-bearing deposits reprice higher following March rate hike; NII sensitivity model assumes 60% beta on interest-bearing deposits, consistent with our experience over the 2015-2018 rising rate cycle – NIM +22 bps Includes $48M benefit from reduced Q1 premium amortization expense as higher interest rates slowed prepayment speed estimates Premium amortization expense From prepayments of securities purchased at a premium If 10-year UST dropped below 2%, expect an in-year increase in premium amortization expense of ~$40-60M – $48M decrease in premium amortization expense increased NIM 9 bps

Q1 2022 FINANCIAL HIGHLIGHTS 26 Excellent credit performance – well-positioned to withstand potential impacts of prolonged public market volatility; Maintaining 15-35 bps FY’22 NCO outlook • Excellent credit performance marked by low gross charge-offs ($18M), strong recoveries ($10M) and declining NPLs ($72M, -$19M QoQ) • Provision primarily driven by a $19M increase in performing and unfunded reserves for robust growth and $6M net credit losses, partially offset by a $15M decrease in specific reserves from repayments and credit upgrades Q1’22 activity FY’22 outlook key assumptions Credit quality metrics Provision components $M Q1’21 Q2’21 Q3’21 Q4’21 Q1’22 0.79%1 0.10% 0.07% 0.01% 0.05% 0.20% 0.16% 0.19% 0.14% 0.10% Non-performing loans3 Net charge-offs2 18 15 10 20 15 (3) 7 2 (13) 81 1 7 6 (16) 15 27 22 4 1 4 1 1 (1) 46 (62) (7) (70) 3 Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Non-performing loans Loan composition Model assumptions Unfunded Net credit losses HTM securities BP non-PCD & unfunded commitments Q1’21 Q2’21 Q3’21 Q4’21 Q1’22 $19 $35 $21 $48 $11 40% baseline 30% downside 30% upside Provision for credit losses Moody’s March economic scenarios 1. Q1’21 included an $80M net charge-off related to an isolated GFB potential fraud incident. Less this $80M net charge-off, Q1’21 net credit losses were $1M and net charge-offs were 0.09%. 2. Net loan charge-offs as a percentage of average total loans (annualized). 3. Non-performing loans as a percentage of period-end total loans. Strong client balance sheets Record VC investment over the past 2 years has extended client runway+ Larger Growth Stage and Innovation C&I loan sizes Growth of our balance sheet and our clients has increased number of large loans, which may introduce greater volatility in credit metrics – Significant PE/VC dry powder That needs to be deployed+ Improved risk profile of loan portfolio Early Stage – historically has produced the most losses – only 2% of loans; 70% of loans in low credit loss experience GFB and Private Bank classes + Increased CRE exposure from acquired Boston Private loans Commercial real estate more impacted by COVID-19 restrictions and transition to hybrid work environment; mitigated by limited overall exposure (only 4% of total loans), well-margined collateral and ample reserves – Minimal Russia/Ukraine direct exposure No material impact from Russia/Ukraine conflict+ Recovering business activity As COVID-19 restrictions ease+ 1

Global Fund Banking ("GFB") 57% Early Stage ID 2% Growth Stage ID 6% CFD - SLBO 3% Innovation C&I 11% Premium Wine 1% CRE 4% Other C&I 2% Other 1% Private Bank 13% 70% of loans in low credit loss experience Global Fund Banking and Private Bank classes Total loans $69B at 3/31/22 Global Fund Banking ("GFB") 16% Early Stage ID 13% Growth Stage ID 22% CFD - SLBO 8% Innovation C&I 19% Premium Wine 1% CRE 8% Other C&I 3% Other 1% Private Bank 9% Note: See the Appendix at the end of this presentation for more information on our portfolio segments and classes of financing receivables. Q1 2022 FINANCIAL HIGHLIGHTS 27 Allowance for credit losses for loans $421M at 3/31/22 ID = Investor dependent | CFD = Cash flow dependent | SLBO = Sponsor-led buyout | C&I = Commercial & industrial | PPP = Paycheck Protection Program | CRE = Commercial real estate Low credit loss experience classes Technology & Life Science/Healthcare

13 13 13 12 14 16 18 21 21 19 20 15 20 20 35 25 28 29 30 30 57 67 65 73 73 28 31 34 38 3722 22 22 0 0 0 0 0 0 Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q1 2022 FINANCIAL HIGHLIGHTS 28 Improved client investment fee margin drove robust core fee income growth Raising FY’22 core fee income growth outlook to mid 40s % given current higher rates – additional potential upside if rates increase Core fee income1 $M • Client investment fees +75% QoQ as fee margin increased 3 bps to 7 bps with March rate hike, driving robust core fee income growth as performance of other fee segments remained consistently strong QoQ Recovering business activity Supports card spend+ New client growth and deepening engagement From investments in client acquisition, new products and client experience+ Enhanced wealth management offering Full-year impact of inclusion of Boston Private + newly launched brand and product suite + Improved client investment fee margin with March rate hike 15 bps at 3/31/22 + Higher lending related fees Driven by higher unused commitments from robust loan growth as well as syndication opportunities in collaboration with SVB Securities + Significant PE/VC dry powder That needs to be deployed, ultimately fueling GFB FX activity+ Lending related fees Deposit service charges Credit card fees LOC fees FX fees Wealth management & trust fees (“WM&T”) 159 172 204 216 Q1’22 activity FY’22 outlook key assumptions 1. Non-GAAP financial measure. See “Use of non-GAAP Financial Measures” in our Q1 2022 Earnings Release and our non-GAAP reconciliations at the end of this presentation. 2. Represents SVB Private’s client investment account balances. 230 Client investment fees SVB Private AUM2 $M 19,646 19,008 (902) 264 Q4'21 AUM Net flows Market returns Q1'22 AUM Public market volatility + near-term pressure on later-stage fundraising and exits Moderates GFB FX activity, client liquidity growth, client spending, demand for syndicated loans and SVB Private AUM growth Lowered SVB Private AUM year-end target to ~$21-22B (vs. previous target at ~$22-23B) due to public market volatility – Public market volatility pressured AUM

125 84 39 56 32 4 9 26 51 54 13 10 25 17 7 24 17 17 21 25 166 120 107 145 118 Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 SVB Securities expenses • Only 8 book-run ECM transactions ($2.0B in aggregate deal value) • Early wins from recently hired teams, with M&A advisory fees now 46% of SVB Securities revenue (vs. 2% 1-year ago) • Continue to fill out team, hiring 19 bankers to support our Technology, Healthcare Services and HealthTech practices • Compensation for prior year hiring drove expenses higher than revenue Q1 2022 FINANCIAL HIGHLIGHTS 29 Public market volatility pressured equity capital markets activity Decreasing FY’22 SVB Securities revenue outlook to $500-550M 1. Non-GAAP financial measure. See “Use of non-GAAP Financial Measures” in our Q1 2022 Earnings Release and our non-GAAP reconciliations at the end of this presentation. 2. Included in investment banking revenue. 3. Included in FY’22 outlook for SVB Securities revenue of $500M-$550M. New hires and expertise Recent hires to grow Technology, Healthcare Services and HealthTech investment banking help diversify business by expanding SVB Securities’ advisory capabilities Combined new initiatives expected to contribute ~$150-200M of revenues in 20223 Expect ~20-40 additional hires (across levels) through year-end + FY’22 outlook key assumptions Q1’22 activity SVB Securities revenue1 $M $136M $99M $142M $184M $134M Equity Capital Markets Convertible Securities Alternative Equities Institutional Equities MEDACorp M&A Advisory Equity Research Leveraged Finance Structured Finance SPACs Private Placements Technology (launched September 2021)Life Sciences/Healthcare Tools & Diagnostics Medical Devices Biopharma Healthcare Services Digital Health & HealthTech Education Technology Industrial Technology Enterprise Software Digital Infra & Tech Services Fintech Consumer Software, Internet & Info Services Public market volatility Pressures later-stage/public valuations and near-term ECM activity– Strengthening collaboration Between Commercial Bank and SVB Securities, enhanced by OneSVB initiative to deliver the full power of the SVB platform to clients + Underwriting fees2 M&A advisory2 Commissions Private placements2

142 192 101 54 18 32 49 222 122 147 69 63 364 314 248 155 130 Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 1,015 949 1,216 1,222 1,259 244 266 274 277 323 Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q1 2022 FINANCIAL HIGHLIGHTS 30 Moderating market-related gains and potential volatility Expect gains to moderate from 2021’s exceptional levels, more than offset by expected NII growth Note: The extent to which unrealized gains (or losses) from investment securities from our non-marketable and other equity securities portfolio as well as our equity warrant assets will become realized is subject to a variety of factors, including, among other things, performance of the underlying portfolio companies, investor demand for IPOs and SPACs, fluctuations in the underlying valuation of these companies, levels of M&A activity and legal and contractual restrictions on our ability to sell the underlying securities. 1. Non-GAAP financial measure. See “Use of non-GAAP Financial Measures” in our Q1 2022 Earnings Release and our non-GAAP reconciliations at the end of this presentation. 2. Net of investments in qualified affordable housing projects and noncontrolling interests. Warrant and investment gains Net of NCI1 $M• Warrant gains driven primarily by unrealized valuation increases as exits slowed • Investment gains driven primarily by $49M net gains from sale of AFS fixed income securities and related swap unwind (realized) and $49M gains from SVB Capital managed funds (primarily unrealized), partially offset by $32M losses in public equity positions (primarily realized) Q1’22 activity Public market volatility Impacts valuations, PE/VC investment and exits– FY’22 considerations Warrants & non-marketable and other equity securities1, 2 $M Warrant gains Investment gains less AFS sales Warrants Non-marketable and other equity securities1, 2 Near-term pressure on later-stage fundraising and exits Moderates private valuation growth and increases potential for down rounds Fewer exits reduce opportunities to realize gains – Strong client liquidity Private valuations driven by fundraising events – strong client liquidity mitigates need to raise equity at lower valuations + Limited public equity exposure Predominantly private companies+ Granular, diversified positions Warrants: Only 54 warrants out of 2,800+ positions with a fair value >$1M, collectively representing $175M in fair value Private fund investments: Exposure to over 500 funds with nearly 25,000 investments in ~10,000 companies across various industries and stages of development + Gains from sales of AFS securities

-3 8 3 3 22 23 11 0 7 37 19 46 71 71 38 55 89 138 237 560 63 -13 -1 0 -2 -7 -10 -16 -58 -23 -1 -21 -26 -30 -12 -45 -35 -28 -23 -27 -28 -4 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Q1'22 Q1 2022 FINANCIAL HIGHLIGHTS 31 Net warrant gains more than offset Early Stage charge-offs over time and offer meaningful long-term earnings support Net gains on equity warrant assets Cumulative net gains (2002–Q1’22 warrant gains less early stage NCOs) Early stage NCOs $1.1BWarrant gains net of early stage losses $M

Core expense growth SVB Private SVB Securities Employee enablement & risk management Client experience & revenue growth initiatives Reinvestment of portion of improved revenue outlook FY’22 expenses FY’21 expenses Continued hiring & FY impact of 2021 hires FY impact of BP expenses PBWM strategy High single digits % Mid single digits % High single digits % In line with historical core expense growth OneSVB Data Cyber Agile nCino Mobile & collab Digital Strategic investments Talent Client acquisition New products Q1 2022 FINANCIAL HIGHLIGHTS 32 Lower compensation, merger-related charges and other expenses drove expense decline Raising FY’22 noninterest expense growth outlook to high 20s % (excluding merger-related charges) on improved revenue outlook * Estimate ~$40M pre-tax merger-related charges in 2022 ($16M in Q1’22, ~$15M in Q2’22 and the remainder in 2H’22). • Decrease in compensation and benefits expense driven primarily by lower SVB Securities incentives as deal activity declined, partially offset by increased salaries and wages from continued firmwide hiring and higher seasonal expenses • Increase in average FTEs driven by hiring in our 1) Global Commercial Bank to drive revenue growth, 2) teams to enhance the digital client experience and infrastructure to support employee enablement and 3) regulatory teams to execute our LFI initiatives • Merger-related charges declined as we continue to progress with the Boston Private integration • Other expense decreased QoQ primarily due to higher charitable donations in Q4’21 related to seasonal year-end giving campaigns Improved revenue outlook provides opportunity to further accelerate investments across our strategic priorities to drive long-term scalable growth Q1’22 activity FY’22 key drivers Noninterest expenses $M 445 425 548 597 584 81 97 104 110 106 33 37 54 54 58 4 3 6 11 14 18 17 25 23 23 19 83 27 16 55 55 59 80 72 636 653 879 902 873 45.3% 43.9% 57.7% 60.1% 54.6% 0 100 200 300 400 500 600 700 800 900 1000 Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 4,601 4,808 6,024 6,431 6,975 GAAP efficiency ratio Other Occupancy BD&T Premises and equipment Professional services Compensation and benefits Average FTEs Merger-related charges Expected FY’22 noninterest expense growth Excludes merger-related charges* Raising FY’22 noninterest expense growth outlook to high 20s % (excluding merger-related charges) – currently do not expect to further increase our FY’22 expense growth outlook with future rate hikes Mid single digits % Further accelerated investments across our strategic priorities (see page 18)

Q1 2022 FINANCIAL HIGHLIGHTS 33 Q1’22 Summary Executing on our vision Consistent progress on leveraging the combined power of our global platform OneSVB: Facilitating collaboration across our businesses to help clients navigate each step of their financial journey Raising 2022 revenue outlook March rate hike and overall higher rates since 1/20/22 accelerate NII and core fee income growth Additional potential upside if rates increase Future rate increases would significantly enhance earnings power Resilient markets Continued robust client acquisition and healthy early-stage investment, despite slowdown in later-stage investments and exits Long-term tailwinds supporting innovation economy remain intact: acceleration of digital and significant dry powder Well-positioned to withstand volatility and drive long-term, scalable growth Powerful client funds franchise with flexibility to generate robust, low cost deposit growth Balance sheet growth provides foundation for sustainable NII ALM positioning to take advantage of higher interest rates Strong capital, high-quality balance sheet, robust earnings power and diversified business model Accelerating investments Improved revenue outlook enables us to further invest in our strategic priorities (enhance client experience, drive revenue growth, improve employee enablement and enhance risk management) to drive and support long-term scalable growth

Appendix Q1 2022 FINANCIAL HIGHLIGHTS 34

Q1 2022 FINANCIAL HIGHLIGHTS 35 The financial partner of the global innovation economy Q1’22 U.S. venture- backed technology and life science companies Nearly half Unparalleled access, connections and insights to increase our clients’ probability of success Q1’22 U.S. venture- backed technology and healthcare IPOs Deep sector expertise Comprehensive solutions PRIVATE BANKING & WEALTH MANAGEMENT GLOBAL COMMERCIAL BANKING INVESTMENT SOLUTIONS FUNDS MANAGEMENT RESEARCH & INSIGHTS INVESTMENT BANKINGENTERPRISE SOFTWARE CONSUMER INTERNET LIFE SCIENCE & HEALTHCARE PREMIUM WINE PRIVATE EQUITY & VENTURE CAPITAL HARDWARE & FRONTIER TECH FINTECHCLIMATE TECH Technology & Life Sciences/Healthcare Corporate Banking Revenue >$75M Startup (Early-Stage) Revenue <$5M Venture- Funded Revenue $5M–$75M Investors Private Equity Venture Capital Individuals Entrepreneurs, Investors, Executives We bank: We help individuals, investors and the world’s most innovative companies achieve their ambitious goals 43%

Equity Capital Markets Convertible Securities Alternative Equities Institutional Equities MEDACorp M&A Advisory Equity Research Leveraged Finance Structured Finance SPACs Private Placements New capabilities added in 2021 Technology capabilities Q1 2022 FINANCIAL HIGHLIGHTS 36 Building the premier investment bank dedicated to the innovation economy • Rebranded as SVB Securities to reflect our expanded focus • Acquired technology equity research firm MoffettNathanson LLC • Launched Technology Investment Banking • Deepened Healthcare Services and HealthTech Practices • Added Leveraged Finance, SPACs and Structured Finance capabilities Life Sciences/Healthcare Expanded In 2021Technology (launched September 2021) Education Technology Industrial Technology Enterprise Software Digital Infra & Tech Services Consumer Software, Internet & Info Services Fintech Tools & Diagnostics Medical Devices Biopharma Healthcare Services Digital Health & HealthTech Enhancing our ability to deliver strategic support to our clients as they grow

Q1 2022 FINANCIAL HIGHLIGHTS 37 Creating a premier private banking & wealth management platform Focused on capturing the ~$400B potential opportunity among current clients1 1. Estimated potential “total client position” (“TCP”) through SVB’s current commercial clients based on SVB management analysis (2020). Includes potential wealth management assets, loans and deposits. 2. SVB Private loan target updated to reflect inclusion of Premium Wine class in SVB Private segment reporting beginning Q1’22. Premium Wine loans ($1.0B at 3/31/22) were previously reported in Global Commercial Bank segment reporting. 3. Reported Total Client Position represents sum of SVB Private assets under management (“AUM”) and loans and deposits as reported in our SVB Private segment reporting. ~$70B Total client position vs. $47B ($19B SVB Private AUM, $14B loans and $14B deposits) at 3/31/223 At least 1 SVB Private relationship at 50% of commercial clients ~$770M Q1’22 mortgage originations Initial driver of revenue synergies 14 Wealth advisor hires since acquisition close Early performance indicators Medium-term targets (~3 years)12/31/22 Targets ~$16-17B SVB Private loans vs. $14B at 3/31/22 (includes Private Bank, CRE, Other C&I, Premium Wine and Other loan classes)2 ~$21-22B SVB Private AUM vs. $19.0B at 3/31/22 Grow residential mortgages Immediate opportunity to introduce entrepreneurs and executives at our commercial clients to Private Banking Attract talent • Add capacity to serve clients • Further enhance capabilities and expertise Offer differentiated solutions • Trust and family office services • SVB Capital funds and private placements • Developing comprehensive private stock solutions, leveraging Nasdaq Private Market JV Complete integration process (next ~12 months) Refine client engagement model, formalize referral channels and integrate technology systems Launched new brand and product suite 4/21/22

Wealth access digital portal Superior client focus Holistic, relationship- based advice and service Comprehensive planning to prepare for complex financial needs resulting from liquidity and life events Exclusive access to networking events, insights and investment opportunities in the innovation economy Tailored solutions to address equity compensation, concentrated stock positions and non-liquid assets Next generation digital platform “Always on” digitally enabled interactions and improved efficiencies Large balance sheet to support clients’ borrowing needs Wealth Advisory Investment Lending Q1 2022 FINANCIAL HIGHLIGHTS 38 Well-positioned to capture compelling private banking and wealth management opportunity • Dedicated advisor supported by a team of specialists • Deep wealth management and innovation economy expertise Seamless onboarding 360o view of financial positions Integrated banking and wealth solutions Personalized financial planning Customized portfolio management 24-7 access and support Mortgages Private stock lending Securities-based loans Specialty commercial SVB Capital access Private placements Brokerage solutions Impact investing HNW/UHNW Family office Tax planning Philanthropy Trust & estate Premier private banking and wealth platform Trusted advisor and team Full product suite

Centralized marketplace for trading private company stock Commercial Banking: Enable clients to manage secondary offerings with leading technology platform and global distribution network SVB Private, SVB Capital & SVB Securities: Provide investor clients more liquidity options and broader access to investment opportunities Marketplace for on-demand executive talent Commercial Banking: Help clients rapidly scale and diversify their leadership teams and boards SVB Private: Provide clients with access to job opportunities within the innovation economy Investment analytics platform for VCs, LPs and other private capital investors Commercial Banking: Provide a powerful solution for our PE and VC clients to gain enhanced insights into their portfolios SVB Capital: Assist SVB Capital team with market benchmarking, streamlined LP reporting and portfolio analytics Commercial insurance provider powered by technology serving high-growth, venture- backed startups Commercial Banking: Connect early and mid-stage clients to Vouch’s tailored commercial insurance solutions to benefit customer retention and risk mitigation Largest global seed investor and accelerator program Commercial Banking: Expand SVB’s early-stage client acquisition channels and support innovative companies in Techstars’ global network Gain sector and market insights in the innovation economy Q1 2022 FINANCIAL HIGHLIGHTS 39 Strategic partnerships: another channel to expand capabilities to better meet clients’ needs Note: SVB maintains a noncontrolling equity interest in each of the companies listed above.

56.9 71.0 115.5 211.5 220.4 -$10 $10 $30 $50 $70 $90 $110 $130 $150 $170 $190 $210 $230 $250 2018 2019 2020 2021 Q1'22 Period-end assets $B Period-end liabilities $B 51.7 64.4 107.1 194.9 204.0 $ $20 $40 $60 $80 $100 $120 $140 $160 $180 $200 $220 2018 2019 2020 2021 Q1'22 Q1 2022 FINANCIAL HIGHLIGHTS 40 High-quality balance sheet growth driven by deposits Noninterest-bearing deposits Borrowings Interest-bearing deposits Other liabilities Net loans Other assets Non-marketable securities (primarily VC & LIHTC investments) Held-to-maturity securities Available-for- sale securities Cash and cash equivalents * Based on cash, fixed income investment portfolio and Global Fund Banking and Private Bank loan classes of financing receivables as of March 31, 2022. 88% of assets in high-quality investments and low credit loss experience lending* Noninterest-bearing deposits 63% of total liabilities

7.8 14.0 30.9 27.2 26.0 $ $ $ $ $ $ $ $ $ $ 2018 2019 2020 2021 Q1'22 41 High-quality and liquid investment portfolio U.S. Treasuries and agency-backed securities make up 93% of fixed income portfolio Q1 2022 FINANCIAL HIGHLIGHTS Municipal bonds and notes U.S. agency debentures Agency-issued commercial mortgage-backed securities Agency-issued collateralized mortgage obligations – variable rate U.S. treasury securities Agency-issued collateralized mortgage obligations – fixed rate Agency-issued residential mortgage-backed securities Corporate bonds Period-end available-for-sale securities $B Period-end held-to-maturity securities $B 15.5 13.8 16.6 98.2 98.7 $ 2018 2019 2020 2021 Q1'22 Opportunistically buying strong credit-quality munis and corporate bonds in HTM to support portfolio yields Emphasizing AFS purchases in the near term to maximize ALM flexibility and satisfy LFI liquidity requirements

Q1 2022 FINANCIAL HIGHLIGHTS 42 Improved risk profile, with loan growth driven by lowest risk loan classes 70% of loans in Global Fund Banking and Private Bank, classes with lowest historical credit losses Early Stage ID % of total loans Other C&I Technology and Life Science/Healthcare Premium Wine and Other Private Bank Global Fund Banking Early Stage Investor Dependent (“ID”) loans, our highest risk loan class, now only 2% of total loans, down from 11% in 2009 and 30% in 2000 CRE PPP 4.5 5.5 7.0 8.9 10.9 14.4 16.7 19.9 23.1 28.3 33.2 45.2 66.3 68.711% 10% 8% 9% 9% 8% 6% 6% 6% 6% 5% 3% 2% 2% 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Q1'22 Period-end total loans $B

1.07% 1.03% 0.97% 0.62% 0.64% 0.26% 0.31% 0.18% 1.57% 1.15% 0.71% 0.52% 0.42% 0.47% 0.27% 0.73% 0.59% 0.51% 0.34% 0.32% 0.23% 0.14% 0.10% 3.32% 1.02% 0.25% -0.08% 0.10% 0.04% 0.14% 0.35% 0.87% 2.64% 0.77% -0.02% 0.31% 0.33% 0.32% 0.30% 0.46% 0.27% 0.22% 0.24% 0.20% 0.21% 0.05% 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Q1'22 Q1 2022 FINANCIAL HIGHLIGHTS 43 Long history of strong, resilient credit We’ve successfully navigated economic cycles before and our risk profile has improved NCOs2NPLs1 Improved loan mix % of period-end total loans Global Financial CrisisDotcom Bubble Crash 2009 11% Early Stage 30% GFB + Private Bank Q1’22 2% Early Stage 70% GFB + Private Bank 2000 30% Early Stage 5% GFB + Private Bank COVID-19 PandemicVC Recalibration3 0.06% 1. Non-performing loans as a percentage of period-end total loans. 2. Net loan charge-offs as a percentage of average total loans. 3. Pullback in VC investment. Non-performing loans & net charge-offs Less Q1’21 $80M GFB potential fraud incident

ACL ($) ACL (%) 3/31/22 12/31/21 QoQ Change 3/31/22 12/31/21 QoQ Change Early Stage Investor Dependent 54 56 (2) 3.18% 3.51% (0.33)% Growth Stage Investor Dependent 93 90 3 2.32% 2.25% 0.07% Cash Flow Dep: Sponsor Led Buyout 33 40 (7) 1.80% 2.22% (0.42)% Innovation C&I 81 76 5 1.12% 1.14% (0.02)% Global Fund Banking 66 67 (1) 0.17% 0.18% (0.01)% Private Bank 37 33 4 0.40% 0.38% 0.02% Other C&I 13 14 (1) 1.11% 1.11% - Commercial Real Estate 34 36 (2) 1.30% 1.35% (0.05)% Premium Wine & Other 10 10 - 0.78% 0.77% 0.01% PPP - - - - - - ACL for loans 421 422 (1) 0.61% 0.64% (0.03)% ACL for unfunded credit commitments 175 171 4 0.38% 0.39% (0.01)% ACL for loans and unfunded credit commitments 596 593 3 0.52%* 0.54%* (0.02)% 44 Modestly lower ACL % driven by continued strong credit quality Q1 2022 FINANCIAL HIGHLIGHTS T ec h & L S / H C *Weighted average ACL ratio for loans outstanding and unfunded credit commitments. Allowance for credit losses for loans and unfunded credit commitments $M

Q1 2022 FINANCIAL HIGHLIGHTS 45 Low credit risk capital call lines of credit Largest driver of loan growth over past 8 years; strong underwriting and well-diversified 1. Based on period end loans at March 31, 2022. Capital call lines represent 98% of GFB portfolio. 2. Based on total GFB loan commitments (funded + unfunded) as of March 31, 2022. Global Fund Banking capital call lending Short-term lines of credit used by PE and VC funds to support investment activity prior to the receipt of Limited Partner capital contributions of total loans56%1 Limited partner commitments and robust secondary markets Value of fund investments with solid asset coverage Strong sources of repayment Only 1 loss in our ~30 years of capital call lending Global Fund Banking portfolio2 By industry By investment style 22% 20% 12% 14% 8% 5% 19% Debt Buyout Growth Fund of funds VC funds Other Real estate 38% 13%7% 5% 7% 13% 4% 1% 2% 3% 7% Life sciences Industrial Other Consumer Debt Technology Real estate Fintech Natural resources Infrastructure Energy PE Funds

46 Supporting innovation around the world 2004 2005 2008 2012 2016 2019  SVB Financial Group’s offices * Source: PitchBook. $74B Americas $33B EMEA $30B APAC Q1’22 VC investment by market* Expanding our platform globally Israel Tel Aviv Business developmentChina Shanghai Hong Kong (2009) Beijing (2010) Business development Canada Toronto (2019) Lending branch Vancouver (2020) Business Development Montréal (2021) Business Development Europe Ireland (2016) Business development Germany (2018) Lending branch Denmark (2019) Business development U.K. London Full-service branch (2012) China Joint Venture SPD Silicon Valley Bank (JV) Shanghai Additional JV branches Beijing (2017) Shenzhen (2018) Q1 2022 FINANCIAL HIGHLIGHTS

20.57% 20.03% 16.83% 17.10% 15.28% 12.76% 11.80% 8.27% 13.18% 10.94% 0.00% 5.00% 10.00% 15.00% 20.00% 25.00% 30.00% 2018 2019 2020 2021 Q1'22 SVB Peer Average 47 Industry-leading performance Q1 2022 FINANCIAL HIGHLIGHTS 1/1/18 7/1/18 1/1/19 7/1/19 1/1/20 7/1/20 1/1/21 7/1/21 1/1/22 SVB 2.4x BKX 1.2x S&P 500 1.7x Total shareholder return2 Since 1/1/18 3/31/22 1. Source: S&P Global Market Intelligence. “Peers” refers to peer group as reported in our Proxy Statement for each year and is subject to change annually. 2022 annualized average peer ROE includes 5 of 16 peers as of April 20, 2022. 2. Cumulative total return on $100 invested on 1/1/18 in stock or index. Includes reinvestment of dividends. Return on equity Strong total shareholder return As of 3/31/22: 1 Strong return on equity

48 Strong, seasoned management team Diverse experience and skills to help direct our growth Dan Beck Chief Financial Officer 4 years at SVB Greg Becker President and CEO 28 years at SVB Marc Cadieux Chief Credit Officer 29 years at SVB John China President SVB Capital 25 years at SVB Phil Cox Chief Operations Officer 12 years at SVB Anthony DeChellis CEO SVB Private <1 year at SVB Mike Descheneaux President Silicon Valley Bank 16 years at SVB Michelle Draper Chief Marketing & Strategy Officer 8 years at SVB Chris Edmonds-Waters Chief Human Resources Officer 18 years at SVB Laura Izurieta Chief Risk Officer 5 years at SVB Jeffrey Leerink CEO SVB Securities 3 years at SVB John Peters Chief Auditor 15 years at SVB Michael Zuckert General Counsel 8 years at SVB 13 years average tenure at SVB Q1 2022 FINANCIAL HIGHLIGHTS

New goals & commitments Q1 2022 FINANCIAL HIGHLIGHTS 49 Our commitment to ESG Advancing social equity, economic opportunity and environmental sustainability 49 Environmental • $5B sustainable finance commitment by 2027 • Aim to reduce SVB emissions and achieve carbon neutral operations, including business travel, and 100% of electricity from renewable sources by 2025 Social • $11.2B Community Benefits Plan (2022-2026)1 • $50M to Access to Innovation2 initiatives by 2025 • Member of Pledge 1% – aspire to donate 1% of net income and volunteer 1% of FTE time annually • Expand supplier diversity spend to 8+% by 2026 • New workplace diversity goals coming soon Governance Annually disclose against leading ESG frameworks Note: Refer to www.svb.com/living-our-values for more information and to access our Corporate Responsibility Report. Website content/links are not a part of this presentation. 1. Includes $5B in small business loans of $1 million or less, $4.8B in Community Reinvestment Act community development loans and investments, $75M in charitable contributions and $1.3B in residential mortgages to low- and moderate-income (“LMI”) borrowers and in LMI census tracts in California and Massachusetts over the next 5 years. 2. SVB’s signature program to increase funding and representation at all levels for women, Black and Latinx people in the innovation economy. Talent Engaging and empowering employees DEI at SVB Promoting Diversity, Equity & Inclusion at SVB Economic Impact Championing inclusion in the innovation economy Citizenship Supporting communities where we live and work Climate & Environment Supporting the transition to a sustainable, low- carbon world Governance Practicing responsible corporate governance 6 strategic ESG initiatives

Q1 2022 FINANCIAL HIGHLIGHTS 50 Increasing Diversity, Equity and Inclusion (“DEI”) at SVB Embracing diverse perspectives and fostering a culture of belonging Gender (global) Race & Ethnicity (U.S.) Diversity at SVB* Note: Refer to www.svb.com/living-our-values/inclusion-diversity for more information, including our DEI report, U.K. Gender Pay Report and EEO data. Website content/links are not a part of this presentation. * Workforce and senior leadership data is as of December 31, 2021. Board member data is as of March 31, 2022. Race & ethnicity figures represent U.S. employees only, as regulatory requirements governing data collection and privacy preclude comprehensive data collection in our international offices. Senior leadership includes Executive Committee (includes our executive officers) and leaders from certain top levels of SVB’s two highest bands of management. American Indian/Alaska Native does not appear on the charts since they comprise less than 1%. Not disclosed represents individuals who did not choose to disclose gender, race & ethnicity data. Measure and communicate progress Native Hawaiian/Other Pacific Islander American Indian/Alaska Native Not disclosed White Asian Hispanic/Latinx Black/African American Two or more races Start with values and culture We keep LEARNING & IMPROVING. We start with EMPATHY for others. We speak & act with INTEGRITY. We take RESPONSIBILITY. We embrace DIVERSE perspectives. Take a multipronged approach Hiring outreach programs, university scholarships & strategic partnerships Chief Diversity Officer & executive-led DEI Steering Committee Full-time Diversity Recruiting Director Employee Resource GroupsEmployee awareness programs, regular training & education Leadership developmentFair pay analysis Employee surveys and focus groups Transparent disclosure New workplace diversity goals coming soon 3% 5% 7% 9% 23% 52% 1% 2% 3% 5% 8% 18%64% 8% 92% Women 38% Men 62% Women 46% Men 54% Women 36% Men 64% Senior LeadersTotal Workforce Board Members Added 3 new directors in 2020-2021

Glossary The following terms are used throughout this presentation to refer to certain SVB-specific metrics: Non-GAAP measures (Please see “Use of non-GAAP Financial Measures” in our Q1 2022 Earnings Release and non-GAAP reconciliations at the end of this presentation) Core Fee Income – Fees from letters of credit, client investments, credit cards, deposit service charges, foreign exchange, lending-related fees and wealth management and trust, in aggregate. Core Fee Income plus SVB Securities Revenue – Core fee income, from above, plus investment banking revenue and commissions. SVB Securities Revenue – SVB Securities revenue defined as investment banking revenue and commissions and excludes other income earned by SVB Securities. Tangible Common Equity (“TCE”) / Tangible Book Value (“TBV”) – Stockholders' equity less preferred stock and intangible assets, plus net deferred taxes on intangible assets. Gains (losses) on Investment Securities, Net of Noncontrolling Interests – Net gains on investment securities include gains and losses from our non-marketable and other equity securities, which include public equity securities held as a result of exercised equity warrant assets, gains and losses from sales of our Available-For-Sale debt securities portfolio, when applicable, and carried interest. This measure excludes amounts attributable to noncontrolling interests for which we effectively do not receive the economic benefit or cost. Non-GAAP Non-marketable and Other Equity Securities, Net of investments in Qualified Affordable Housing Projects and Noncontrolling Interests in Non- marketable Securities – This measure represents non-marketable and other equity securities but excludes qualified affordable housing projects and noncontrolling interests. Other measures Fixed Income Securities – Available-For-Sale ("AFS") and Held-To-Maturity ("HTM") securities held on the balance sheet. Total Client Funds (“TCF”) – The sum of on-balance sheet deposits and off-balance sheet client investment funds. Beginning in Q3’21, TCF excludes SVB Private assets under management. SVB Private Assets Under Management (“AUM”) – Consists of SVB Private’s client investment accounts balances. Total Client Position (“TCP”) – Represents sum of SVB Private AUM, and loans and deposits as reported in our segment reporting for SVB Private. Q1 2022 FINANCIAL HIGHLIGHTS 51

Glossary (continued) Classes of Financing Receivables: These are the levels at which we monitor and assess credit risk in our loan portfolio. Global Fund Banking: Primarily capital call lines of credit to PE/VC funds. Repayment dependent on the payment of capital calls by the limited partner investors in the funds. Investor Dependent (“ID”): Loans primarily to technology and life science/healthcare companies. Repayment may be dependent upon borrower’s ability to raise additional equity financing or exit. • Early Stage: Loans to pre-revenue, development-stage companies and companies with revenues of up to $5M. • Growth Stage: Loans to mid-stage companies (with revenues between $5-$15M, or pre-revenue clinical-stage biotechnology companies) and later-stage companies (with revenues > $15M). Cash Flow Dependent and Innovation Commercial & Industrial ("C&I"): Loans primarily to technology and life science/healthcare companies that are not Investor Dependent (repayment not dependent on borrower’s ability to raise additional equity financing or exit). • Cash Flow Dependent – Sponsor-Led Buyout (“CFD - SLBO”): Loans to facilitate PE Sponsors’ acquisition of businesses (typically established, later-stage businesses of scale). Repayment generally dependent upon cash flows of the combined company. Reasonable levels of leverage and meaningful financial covenants; sponsor’s equity contribution is often 50+% of the acquisition price. • Innovation C&I: Other cash flow dependent loans (require borrowers to maintain cash flow from operations that is sufficient to service all debt) and balance sheet dependent loans (include asset-based loans and require constant current asset coverage exceeding the outstanding debt) to technology and life science/healthcare companies. Repayment dependent on financial condition and payment ability of third parties with whom our clients conduct business. Private Bank: Loans primarily to executive leaders and senior investment professionals in the innovation economy as well as high net worth individuals acquired from Boston Private. Primarily mortgages. CRE: Generally acquisition financing for commercial properties. Other C&I: Working capital, revolving lines of credit and term loans primarily to non-technology and life science/healthcare companies and commercial tax-exempt loans to not-for-profit organizations. Premium Wine and Other: • Premium Wine: Loans primarily to wine producers, vineyards and wine industry or hospitality businesses across the Western United States; mostly secured by real estate. • Other: Consists of construction and land loans and CRA community development loans. PPP: Loans issued through the SBA Paycheck Protection Program (“PPP”) and are guaranteed by the U.S Small Business Administration. Q1 2022 FINANCIAL HIGHLIGHTS 52

Acronyms and abbreviations Ex – Excluding FHLB – Federal Home Loan Bank FTE – Full-time employee FX – Foreign exchange FY – Full year GFB – Global Fund Banking HC – Healthcare HNW/UHNW – High net worth, ultra high net worth HTM – Held-to-maturity ID – Investor dependent IPO – Initial public offering JV – Joint venture LFI – Large financial institution LIHTC – Low income housing tax credit funds LMI – Low- and moderate-income LOC – Letter of credit LP – Limited partner LS – Life science M&A – Merger & acquisition MBS – Mortgage-backed security Munis – Municipal bonds NCI – Noncontrolling interests NCO – Net charge-off NII – Net interest income ACL – Allowance for credit losses AFS – Available-for-sale ALM – Asset liability management AOCI – Accumulated other comprehensive income APAC – Asia-Pacific API – Application programming interface AUM – Assets under management BKX – KBW Nasdaq Bank Index BP – Boston Private bp – Basis point BD&T – Business development & travel C&I – Commercial and industrial CAGR – Compound annual growth rate CFD – Cash-flow dependent CRA – Community Reinvestment Act CRE – Commercial Real Estate DEI – Diversity, Equity & Inclusion Dep – Dependent ECM – Equity capital market EEO – Equal employment opportunity EMEA – Europe, the Middle East and Africa EOP – End of period EPS – Earnings per share ESG – Environmental, Social and Governance NIM – Net interest margin NPL – Non-performing loan OBS – Off-balance sheet OCI – Other comprehensive income PBWM – Private bank wealth management PCD – Purchased credit deteriorated PE – Private equity QoQ – Quarter over quarter Repo – Repurchase agreement ROE – Return on equity SBA PPP – Small Business Administration Paycheck Protection Program SEC – Securities & Exchange Commission SLBO – Sponsor-led buyout SPAC – Special purpose acquisition company SPD – Shanghai Pudong Development Bank SVBFG – SVB Financial Group TBV – Tangible book value TCE – Tangible common equity TCP – Total client position Tech – Technology UST – U.S. Treasury security VC – Venture capital WM&T – Wealth management and trust YoY – Year over year Q1 2022 FINANCIAL HIGHLIGHTS 53

Non-GAAP reconciliations Q1 2022 FINANCIAL HIGHLIGHTS 54

Non-GAAP reconciliation Core fee income and investment gains, net of NCI Q1 2022 FINANCIAL HIGHLIGHTS 55 Non-GAAP core fee income (dollars in millions) Yea ear ended December 31, r 2018 2019 2020 2021 Q1’22 GAAP noninterest income 745 1,221 1,840 2,738 517 Less: gains on investment securities, net 88 135 421 761 85 Less: net gains on equity warrant assets 89 138 237 560 63 Less: other noninterest income 52 55 98 128 21 Non-GAAP core fee income plus SVB Securities revenue 516 893 1,084 1,289 348 Investment banking revenue — 195 414 459 93 Commissions — 56 67 79 25 Less: total non-GAAP SVB Securities revenue — 251 481 538 118 Non-GAAP core fee income 516 642 603 751 230 See “Use of non-GAAP Financial Measures” in our Q1 2022 Earnings Release for more information. Non-GAAP net gains on investment securities, net on noncontrolling interests (dollars in millions) Year ended December 31, 2018 2019 2020 2021 Q1’22 GAAP net gains on investment securities 88 135 421 761 85 Less: income attributable to noncontrolling interests, including carried interest allocation 38 48 86 240 18 Non-GAAP net gains on investment securities, net of noncontrolling interests 50 87 335 521 67

Non-GAAP reconciliation Non-marketable and other equity securities and tangible common equity Q1 2022 FINANCIAL HIGHLIGHTS 56 Non- GAAP Non-marketable and other equity securities, net of investments in qualified affordable housing projects and noncontrolling interests (dollars in millions) Period-end balances at 3/31/21 6/30/21 9/30/21 12/31/21 3/31/22 GAAP non-marketable and other equity securities 1,858 1,943 2,485 2,543 2,605 Less: investments in qualified affordable housing projects 617 696 920 954 957 Less: noncontrolling interests in non-marketable securities 226 298 349 367 389 Non- GAAP Non-marketable and other equity securities, net of investments in qualified affordable housing projects and noncontrolling interests 1,015 949 1,216 1,222 1,259 See “Use of non-GAAP Financial Measures” in our Q1 2022 Earnings Release for more information. Non-GAAP tangible common equity (dollars in millions) Period-end balances at 2018 2019 2020 2021 3/31/22 GAAP SVBFG stockholders’ equity 5,116 6,470 8,220 16,236 15,980 Less: Preferred Stock — 340 340 3,646 3,646 Less: intangible assets — 187 204 535 529 Plus: net deferred taxes on intangible assets — — — 26 26 Tangible common equity 5,116 5,943 7,676 12,081 11,831

Important information regarding forward-looking statements and use of non-GAAP financial measures The Company’s financial results for 2022 reflected in this presentation are unaudited. This document should be read in conjunction with the Company’s SEC filings. Forward-Looking Statements This presentation contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to known and unknown risks and uncertainties, many of which may be beyond our control. Forward-looking statements are statements that are not historical facts, such as forecasts of our future financial results and condition, expectations for our operations and business, and our underlying assumptions of such forecasts and expectations. In addition, forward-looking statements generally can be identified by the use of such words as “becoming,” “may,” “will,” “should,” “could,” “would,” “predict,” “potential,” “continue,” “anticipate,” “believe,” “estimate,” “assume,” “seek,” “expect,” “plan,” “intend,” the negative of such words or comparable terminology. In this presentation, we make forward-looking statements discussing management’s expectations for 2022 about, among other things, economic conditions; the continuing and potential effects of the COVID-19 pandemic; opportunities in the market; our commitments and objectives in relation to sustainable finance and managing risks associated with climate change; the outlook on our clients' performance; our financial, credit, and business performance, including potential investment gains, loan growth, loan mix and loan yields, deposit growth, and expense levels; our expected effective tax rate; the interest rate environment; accounting impacts and financial results (and the components of such results). Although we believe that the expectations reflected in our forward-looking statements are reasonable, we have based these expectations on our current beliefs as well as our assumptions, and such expectations may not prove to be correct. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside our control. Our actual results of operations and financial performance could differ significantly from those expressed in or implied by our management’s forward-looking statements. Important factors that could cause our actual results and financial condition to differ from the expectations stated in the forward-looking statements include, among others: market and economic conditions (including inflation trends, interest rate volatility, the general condition of the capital and equity markets, and private equity and venture capital investment, IPO, secondary offering, SPAC fundraising, M&A and other financing activity levels) and the associated impact on us (including effects on client demand for our commercial and investment banking and other financial services, as well as on the valuations of our investments); disruptions to the financial markets as a result of current or anticipated military conflicts, including the ongoing military conflict between Russia and Ukraine, terrorism and other geopolitical events; the COVID-19 pandemic, including COVID-19 variants and their effects on the economic and business environments in which we operate, and its effects on our operations, including, as a result of, prolonged work-from-home arrangements; the impact of changes from the Biden-Harris administration and the U.S. Congress on the economic environment, capital markets and regulatory landscape, including monetary, tax and other trade policies, as well as changes in personnel at the bank regulatory agencies; changes in the volume and credit quality of our loans as well as volatility of our levels of nonperforming assets and charge-offs; the impact of changes in interest rates or market levels or factors affecting or affected by them, especially on our loan and investment portfolios; the adequacy of our allowance for credit losses and the need to make provisions for credit losses for any period; the sufficiency of our capital and liquidity positions; changes in the levels of our loans, deposits and client investment fund balances; changes in the performance or equity valuations of funds or companies in which we have invested or hold derivative instruments or equity warrant assets; variations from our expectations as to factors impacting our cost structure; changes in our assessment of the creditworthiness or liquidity of our clients or unanticipated effects of credit concentration risks which create or exacerbate deterioration of such creditworthiness or liquidity; variations from our expectations as to factors impacting the timing and level of employee share-based transactions; the occurrence of fraudulent activity, including breaches of our information security or cyber security-related incidents; business disruptions and interruptions due to natural disasters and other external events; the impact on our reputation and business from our interactions with business partners, counterparties, service providers and other third parties; the expansion of our business internationally, and the impact of international market and economic events on us; the effectiveness of our risk management framework and quantitative models; unexpected delays or expenses associated with executing against our climate-related commitments and goals; the quality and availably of carbon emissions data; our ability to maintain or increase our market share, including through successfully implementing our business strategy and undertaking new business initiatives, including through the continuing integration of Boston Private, the expansion of SVB Private and the growth and expansion of SVB Securities; greater than expected costs or other difficulties related to the continuing integration of our business and that of Boston Private; variations from our expectations as to the amount and timing of business opportunities, growth prospects and cost savings associated with the acquisition of Boston Private; the inability to retain existing Boston Private clients and employees following the Boston Private acquisition; unfavorable resolution of legal proceedings or claims, as well as legal or regulatory proceedings or governmental actions; variations from our expectations as to factors impacting our estimate of our full-year effective tax rate; changes in applicable accounting standards and tax laws; and regulatory or legal changes and their impact on us. We refer you to the documents the Company files from time to time with the Securities and Exchange Commission, including (i) our latest Annual Report on Form 10-K, (ii) our most recent Quarterly Report on Form 10-Q, and (iii) our most recent earnings release filed on Form 8-K. These documents contain and identify important risk factors that could cause the Company’s actual results to differ materially from those contained in our projections or other forward-looking statements. All forward-looking statements included in this presentation are made only as of the date of this presentation. We assume no obligation and do not intend to revise or update any forward-looking statements contained in this presentation, except as required by law. This presentation shall not constitute an offer or solicitation in connection with any securities. Use of Non-GAAP Financial Measures To supplement our financial disclosures that are presented in accordance with GAAP, we use certain non-GAAP measures of financial performance (including, but not limited to, non-GAAP core fee income, non-GAAP SVB Securities revenue, non-GAAP core fee income plus non-GAAP SVB Securities revenue, non-GAAP net gains on investment securities, non-GAAP non-marketable and other equity securities net of investments in qualified affordable housing projects and noncontrolling interests in non-marketable securities, and non- GAAP financial ratios) of financial performance. These supplemental performance measures may vary from, and may not be comparable to, similarly titled measures by other companies in our industry. Non-GAAP financial measures are not in accordance with, or an alternative for, GAAP. Generally, a non-GAAP financial measure is a numerical measure of a company’s performance that either excludes or includes amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with GAAP. A non-GAAP financial measure may also be a financial metric that is not required by GAAP or other applicable requirement. We believe that these non-GAAP financial measures, when taken together with the corresponding GAAP financial measures (as applicable), provide meaningful supplemental information regarding our performance by: (i) excluding amounts attributable to noncontrolling interests for which we effectively do not receive the economic benefit or cost of, where indicated, or (ii) providing additional information used by management that is not otherwise required by GAAP or other applicable requirements. Our management uses, and believes that investors benefit from referring to, these non-GAAP financial measures in assessing our operating results and when planning, forecasting and analyzing future periods. These non-GAAP financial measures also facilitate a comparison of our performance to prior periods. We believe these measures are frequently used by securities analysts, investors and other interested parties in the evaluation of companies in our industry. However, these non-GAAP financial measures should be considered in addition to, not as a substitute for or superior to, net income or other financial measures prepared in accordance with GAAP. Under the “Use of Non-GAAP Financial Measures” section in our latest earnings release filed as an exhibit to our Form 8-K on April 21, 2022, we have provided reconciliations of, where applicable, the most comparable GAAP financial measures to the non-GAAP financial measures used in this presentation, or a reconciliation of the non-GAAP calculation of the financial measure. Please refer to that section of the earnings release for more information. Q1 2022 FINANCIAL HIGHLIGHTS 57

About SVB SVB is the financial partner of the innovation economy, helping individuals, investors and the world’s most innovative companies achieve their ambitious goals. SVB’s businesses - Silicon Valley Bank, SVB Capital, SVB Private and SVB Securities - together offer the services that dynamic and fast-growing clients require as they grow, including commercial banking, venture investing, wealth planning and investment banking. Headquartered in Santa Clara, California, SVB operates in centers of innovation around the world. Learn more at svb.com/global. SVB Financial Group (Nasdaq: SIVB) is the holding company for all business units and groups. © 2022 SVB Financial Group. All rights reserved. SVB, SVB FINANCIAL GROUP, SILICON VALLEY BANK, SVB SECURITIES, SVB PRIVATE, SVB CAPITAL and the chevron device are trademarks of SVB Financial Group, used under license. Silicon Valley Bank is a member of the FDIC and the Federal Reserve System. Silicon Valley Bank is the California bank subsidiary of SVB Financial Group. Q1 2022 FINANCIAL HIGHLIGHTS 58

Investor Relations 3005 Tasman Drive Santa Clara, CA 95054 T 408 654 7400 ir@svb.com Q1 2022 FINANCIAL HIGHLIGHTS 59

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Document and Entity Information	Apr. 21, 2022
Entity Information [Line Items]
Entity Registrant Name	SVB Financial Group
Document Type	8-K
Document Period End Date	Apr. 21, 2022
Entity Incorporation, State or Country Code	DE
Entity File Number	001-39154
Entity Tax Identification Number	91-1962278
Entity Address, Address Line One	3003 Tasman Drive
Entity Address, City or Town	Santa Clara
Entity Address, State or Province	CA
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City Area Code	408
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Common Stock
Entity Information [Line Items]
Title of 12(b) Security	Common Stock, par value $0.001 per share
Trading Symbol	SIVB
Security Exchange Name	NASDAQ
Preferred Stock, Series A
Entity Information [Line Items]
Title of 12(b) Security	Depositary shares, each representing a 1/40th interest in a share of 5.250% Fixed-Rate Non-Cumulative Perpetual Preferred Stock, Series A
Trading Symbol	SIVBP
Security Exchange Name	NASDAQ