SECOND QUARTER REPORT − 2015 Dear Fellow Shareholders: Remarkable is the only way to describe the second quarter and the first six months of 2015. We have strengthened our franchise through the pending strategic merger with The Bank of Maine and have continued to deliver strong financial results. Our core operating earnings, which exclude merger and acquisition-related costs and investment security gains, were up 19% for the second quarter and 16% for the first six months of 2015 compared to the same periods a year ago. Camden National’s strong core operating earnings allowed us to absorb merger and acquisition related expenses of $768,000, net of taxes, while still reporting diluted earnings per share growth of 13% and 7% for the second quarter and first six months of 2015, respectively, as compared to the same periods in 2014. Core return on average equity (‘‘ROAE’’) was 11.53% for the second quarter of 2015 compared to 10.60% reported the previous year, while Core ROAE for the first six months of 2015 increased 71 basis points to 10.90% over the same period a year ago. Our second quarter 2015 core operating earnings growth was the result of increased net interest income of $1.4 million from higher average loan balances of 8% compared to the same period a year ago. Our net interest margin for the quarter increased 10 basis points over the same period last year to 3.21%. The increase in our net interest margin largely reflected a $734,000 one-time interest income pick-up related to a non-performing loan that was resolved during the second quarter. This is just one example of the hard work of our team who strikes the fine balance between assisting customers in time of need and our obligation to recoup funds. Core non-interest income was $6.3 million for the second quarter of 2015, an improvement of 1% over the second quarter of 2014. The increase was largely attributable to the ramp-up of our secondary loan sales that drove an increase in mortgage banking income of $276,000 compared to the same period a year ago. Core non-interest expense was $16.0 million for the second quarter of 2015, a 2% increase over the second quarter of 2014. This was driven by an increase in salaries and employee benefits of 2% and continued technology and software enhancements focused on improving the customer experience and driving internal efficiencies. Following the merger, Camden National will continue to provide customers with smart and sophisticated banking products and services to meet their everyday needs, ranging from cutting edge online and mobile banking platforms to innovative personal and commercial products, as well as access to wealth management and brokerage services. Customers will still receive the same genuine and personal service that they have come to expect at all of our 64 Maine-based branches, over 85 ATMs, and our loan offices in Manchester, New Hampshire as well as Boston and Braintree, Massachusetts. On June 30, 2015, the Board of Directors declared a quarterly dividend of $0.30 per common share, resulting in a dividend yield of 3.10%. Whether achieving strong quarterly financial results or pursuing a significant acquisition, the support of our shareholders is greatly appreciated. Sincerely, Gregory A. Dufour President and Chief Executive Officer CamdenNational.com | 800-860-8821

FINANCIAL HIGHLIGHTS (unaudited) Three Months Ended June 30, Six Months Ended June 30, (Dollars in thousands, except per share data) 2015 2014 2015 2014 Earnings and Dividends Net interest income $20,635 $19,243 $ 40,069 $ 37,651 Provision for credit losses 254 643 700 1,136 Non-interest income 6,310 6,509 12,457 12,196 Non-interest expense 16,157 15,792 32,958 30,917 Income before taxes 10,534 9,317 18,868 17,794 Income taxes 3,341 3,001 6,064 5,763 Net income $ 7,193 $ 6,316 $ 12,804 $ 12,031 Core operating earnings $ 7,308 $ 6,131 $ 13,572 $ 11,738 Diluted earnings per share 0.96 0.85 1.71 1.60 Core diluted earnings per share 0.97 0.83 1.81 1.56 Cash dividends declared per share 0.30 0.27 0.60 0.54 Performance Ratios Core return on average equity 11.53% 10.60% 10.90% 10.19% Core return on average assets 1.04% 0.92% 0.98% 0.90% Net interest margin 3.21% 3.11% 3.14% 3.09% Efficiency ratio 58.60% 61.49% 60.24% 62.07% Balance Sheet (end of period) Investments $ 822,991 $ 802,644 Loans and loans held for sale 1,808,433 1,696,765 Allowance for loan losses 21,194 21,905 Total assets 2,837,921 2,691,706 Deposits 1,981,131 1,857,462 Borrowings 564,097 564,900 Shareholders’ equity 254,540 237,720 Book Value per Share and Capital Ratios Book value per share $ 34.17 $ 32.03 Tangible book value per share 27.78 25.46 Tier I leverage capital ratio 9.39% 9.09% Total risk-based capital ratio 14.78% 15.31% Asset Quality Allowance for loan losses to total loans 1.17% 1.29% Net charge-offs to average loans 0.07% 0.10% Non-performing loans to total loans 0.89% 1.54% Non-performing assets to total assets 0.59% 1.05% A complete set of financial statements for Camden National Corporation may be obtained upon written request to Camden National Corporation, P.O. Box 310, Camden, Maine 04843. Forward Looking Statements. Certain statements contained in this document that are not statements of historical fact constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 about the proposed merger of Camden National Corporation (‘‘Camden National’’) and SBM Financial, Inc. (‘‘SBM’’ or ‘‘Bank of Maine’’), including certain plans, expectations, goals, projections and other statements, which are subject to numerous risks, assumptions and uncertainties. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include words like ‘‘believe,’’ ‘‘expect,’’ ‘‘anticipate,’’ ‘‘estimate,’’ and ‘‘intend’’ or future or conditional verbs such as ‘‘will,’’ ‘‘would,’’ ‘‘should,’’ ‘‘could’’ or ‘‘may.’’ Certain factors that could cause actual results to differ materially from expected results include delays in completing the proposed merger, difficulties in achieving cost savings from the proposed merger or in achieving such cost savings within the expected time frame, difficulties in integrating Camden National and SBM, increased competitive pressures, changes in the interest rate environment, changes in general economic conditions, legislative and regulatory changes that adversely affect the business in which Camden National and SBM are engaged, changes in the securities markets and other risks and uncertainties disclosed from time to time in in Camden National’s Annual Report on Form 10-K for the year ended December 31, 2014, as updated by other filings with the SEC. Camden National does not have any obligation to update forward-looking statements. Additional Information and Where to Find It. In connection with the proposed merger, Camden National has filed with the Securities and Exchange Commission (‘‘SEC’’) a Registration Statement on Form S-4 that includes a Proxy Statement of SBM and Camden National and a Prospectus of Camden, as well as other relevant documents concerning the proposed merger. Investors and shareholders are urged to read the Registration Statement and the Proxy Statement/Prospectus regarding the proposed merger and any other relevant documents filed with the SEC, as well as any amendments or supplements to those documents, because they will contain important information. A free copy of the Registration Statement and Proxy Statement/Prospectus, as well as other filings containing information about Camden National and SBM, when they become available, may be obtained at the SEC’s Internet site (http://www.sec.gov). Copies of the Registration Statement and Proxy Statement/Prospectus and the filings incorporated by reference therein may also be obtained, free of charge, from Camden National’s website at camdennational.com or by contacting Camden National Investor Relations at (207) 236-8821 or by contacting SBM Investor Relations at (207) 518-5607. CamdenNational.com | 800-860-8821