Freedom Financial : FDVA Presentation February 2023

Presentation to Investors

2022 Fourth Quarter and Full Year Update

February 1, 2023

Joseph J. Thomas - President & CEO

Disclosure

This presentation contains forward-looking statements, including our expectations with respect to future events that are subject to various risks and uncertainties. Factors that could cause actual results to differ materially from management's projections, forecasts, estimates, and expectations include fluctuation in market rates of interest and loan and deposit pricing; adverse changes in the overall national economy, as well as adverse economic conditions in our specific market areas; maintenance and development of well-established and valued client relationships and referral source relationships; and acquisition or loss of key production personnel. Other risks that can affect the Bank are detailed from time to time in our quarterly and annual reports filed with the Federal Financial Institutions Examination Council. We caution readers that the list of factors above is not exclusive. The forward-looking statements are made as of the date of this presentation, and we may not undertake steps to update the forward-looking statements to reflect the impact of any circumstances or events that arise after the date the forward-looking statements are made. In addition, our past results of operations are not necessarily indicative of future performance.

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Agenda

Company Overview

Management, Model & Market

Results for Q4 and FY 2022

Investment Summary

Our Company

Franchise Footprint

Company Highlights

Maryland

DC

Virginia

2001

Bank Established in

Vienna, VA

$985,063,133

Assets as of

December 31, 2022

1.16%

ROAA, Twelve Months

Ended

December 31, 2022

15.28%

Non-Interest Income/Total

Revenue

105

Total Employees

13.37%

CET1 Capital Ratio as of

December 31, 2022

61.11%

Efficiency Ratio, Twelve

Months Ended December

31, 2022

0.89%

Cost of Funds, Twelve

Months Ended December

31, 2022

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Top Quartile Profitability Amongst Peers(1)

Return on Average Assets (%)						Return on Average Equity (%)
								1.27%											13.60%	13.55%
								1.16%
						1.12%							VA Peer(1) 2022Y	10.83%
	VA Peer(1) 2022Y
										Median ROAE: 10.88%
	Median ROAA: 1.01%
0.55%			0.55%							5.32%
													4.39%
		0.04%														0.34%
	2017Y		2018Y		2019Y		2020Y		2021Y		2022Y					2017Y	2018Y	2019Y	2020Y	2021Y	2022Y
Net Income ($M)										Efficiency Ratio (%)
								$10.7	$10.6						91.1%
																		84.5%
						$7.4					77.2%
																	69.6%
																				61.4%	61.1%
$2.9			$2.7
		$0.2
	2017Y		2018Y		2019Y		2020Y		2021Y		2022Y					2017Y	2018Y	2019Y	2020Y	2021Y	2022Y

Highlights

• Results of a three-year effort to implement a new strategic plan are currently on full display
• Historically consistent performance leading to sustained growth in pre-tax,pre-provision profitability
• Completed a bank-wide reorganization and balance sheet repositioning in 2018 under new leadership with Joe Thomas
• While cyclical changes in the economy have led fee-based revenue to fall, the decline was largely offset by very strong core income from loan growth and NIM expansion
• Profitability above median Virginia

peer levels(1)

Note: All references to financial data prior to holding company formation are bank level

Note: 2022YTD financial data as of the quarter ended September 30, 2022

(1) VA Peers include banks headquartered in Virginia with Total Assets

<$10.0B; YTD financial data as of most recently reported quarter on January 31, 2023

Source: S&P Capital IQ Pro

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