HomeStreet : January 6-7, 2022 Investor Presentation

Investor Presentation January 6-7, 2022

Important Disclosures

Forward-Looking Statements

This presentation and the accompanying oral presentation includes forward-looking statements, as that term is defined for purposes of applicable securities laws, about our industry, our future financial performance, business plans and expectations. These statements are, in essence, attempts to anticipate or forecast future events, and thus subject to many risks and uncertainties. These forward-looking statements are based on our management's current expectations, beliefs, projections, and related to future plans and strategies, anticipated events, outcomes, or trends, as well as a number of assumptions concerning future events, are not historical facts and are identified by words such as "will," "may," "could," "should," "would," "believe," "expect," anticipate" and similar expressions. Forward-looking statements in this presentation include, among other matters, statements regarding our business plans and strategies, share repurchase plans, general economic trends, strategic initiatives we have announced, including forecasted reductions in the Company's cost structure and future run rates, growth scenarios and performance targets and guidance with respect to loans held for investment, average deposits, net interest margin noninterest income and noninterest expense. Readers should note, however, that all statements in this presentation other than assertions of historical fact are forward-looking in nature. These statements are subject to risks, uncertainties, assumptions and other important factors set forth in our SEC filings, including but not limited to our Annual Report on Form 10-K for the year ended December 31, 2020, and in our subsequent quarterly reports on Form 10-Q and current reports on Forms 8-K. Many of these factors and events that affect the volatility in our stock price and shareholders' response to those events and factors are beyond our control. Such factors could cause actual results to differ materially and adversely from the results discussed or implied in the forward-looking statements. These risks include, without limitation, changes in general political and economic conditions that impact our markets and our business, actions by the Federal Reserve Board and financial market conditions that affect monetary and fiscal policy, regulatory and legislative findings or actions that may increase capital requirements or otherwise constrain our ability to do business, including restrictions that could be imposed by our regulators on certain aspects of our operations, our growth initiatives and acquisition activities, and our capital management plan, risks related to our ability to: retain adequate key personnel to operate our business, realize the expected cost savings from restructuring activities and cost containment measures that we have undertaken or have announced, continue to expand our commercial and consumer banking operations, grow our franchise and capitalize on market opportunities, cost-effectively manage our overall growth efforts to attain the desired operational and financial outcomes, manage the losses inherent in our loan portfolio, manage the growth and increasing concentration of commercial real estate in our loan portfolio, improve long-term shareholder value through effective use of our surplus capital, make accurate estimates of the value of our non-cash assets and liabilities, maintain electronic and physical security of customer data, respond to our restrictive and complex regulatory environment and effectively respond to the changes in the global, national, state and local markets caused by or related to the COVID-19 pandemic, and the success of mitigation measures, including vaccine programs. Actual results may fall materially short of our expectations and projections, and we may be unable to execute on our strategic initiatives, or we may change our plans or take additional actions that differ in material ways from our current intentions. Accordingly, we can give no assurance of future performance, and you should not rely unduly on forward-looking statements. All forward-looking statements are based on information available to us as of the date hereof, and we do not undertake to update or revise any forward-looking statements for any reason. As used in this presentation, "HMST," "HomeStreet," the "Company," "we," "us," "our," or similar references refer to HomeStreet, Inc., a Washington corporation, and its consolidated subsidiaries, HomeStreet Bank (the "Bank") and HomeStreet Capital Corporation ("Capital").

Non-GAAP Financial Measures

This presentation contains supplemental financial information determined by methods other than in accordance with U.S. generally accepted accounting principles ("GAAP"). Information on any non-GAAP financial measures such as core measures or tangible measures referenced in this presentation, including a reconciliation of those measures to GAAP measures, may be found in the appendix to this presentation.

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Today's Presenters

Mark Mason

Chairman, Chief Executive

Officer and President

John Michel

Executive Vice President &

Chief Financial Officer

Mr. Mason has been the Company's Chief Executive Officer and HomeStreet Bank's Chairman and Chief Executive Officer since January 2010 and the Chairman of the Company since March 2015. From January 2010 until March 2015, Mr. Mason was the Vice Chairman of the Company's Board.

From 1998 to 2002, Mr. Mason was President, Chief Executive Officer and Chief Lending Officer for Bank Plus Corporation and its wholly owned banking subsidiary, Fidelity Federal Bank, where Mr. Mason also served as the Chief Financial Officer from 1994 to 1995 and as Chairman of the board of directors from 1998 to 2002. From February 2008 to October 2008, Mr. Mason served as President of a startup energy company, TEFCO, LLC. He has also served on the boards of directors of Hanmi Financial Corp., San Diego Community Bank, and The Bjurman Barry Family of Mutual Funds.

Mr. Mason is on the boards of directors of the Pacific Bankers Management Institute (the parent company of the Pacific Coast Banking School) and The Washington Bankers Association, and is an advisory board member of Seattle University's Albers School of Business and Economics. Mr. Mason is a certified public accountant (inactive) and holds a bachelor's degree in Business Administration with an emphasis in Accounting from California State Polytechnic University.

Mr. Michel joined HomeStreet in May 2020 and serves as Executive Vice President, Chief Financial Officer. His duties include the management of treasury, financial reporting, management reporting, financial planning, and tax.

Prior to joining HomeStreet, Mr. Michel was Chief Financial Officer of First Foundation, Inc., from 2007 through 2020. His prior experience includes Chief Financial Officer and senior finance roles at other banks and specialty finance companies, and he was a Senior Manager at Deloitte & Touche.

Mr. Michel holds a BA in Accounting from the University of Notre Dame and is a Certified Public Accountant - California (inactive).

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Franchise Overview

Strategy:

• Grow loan and core deposit portfolios
• Optimize capitalization
• Grow market share in highly attractive metropolitan markets
• Improve operating efficiency
• Introduce smart product offerings - fast follower of technology

Seattle

Metro Washington

Oregon

Idaho

Hawaii

Utah

California

Southern

California

Retail deposit branches (60)

Primary stand-alone lending centers (5)

Primary stand-alone insurance office (1)

The number of offices depicted does not include satellite offices that have a limited number of staff which report to a manager located in a separate primary office.

Q3'21 YTD Financial Highlights
	As of or for the
	9 months ended
	9/30/2021
Balance Sheet ($ Millions)
Total Assets	$7,372.5
Total Loans Held for Investment	$5,354.3
Total Deposits	$6,359.7
Total Equity	$710.4
Total Loans Held for Investment / Deposits (%)	84.2
Profitability and Rates (%)
Net Income ($ Millions)	$86.0
Return on Average Assets	1.57
Return on Average Tangible Equity(1)	16.7
Net Interest Margin	3.39
Efficiency Ratio(1)	61.8
Yield on Total Loans	3.95
Cost of Total Deposits	0.20
Asset Quality (%)
Nonperforming Assets / Total Assets	0.26
Net Charge-offs / Average Loans	(0.00)
Allowance for Credit Losses / Total Loans(2)	1.06
COVID-19 Financial Disclosure
PPP Loans ($ Millions)	$76.8
PPP Loans / Total Loans Held for Investment (%)	1.43
Loan Modificiations ($ Millions)	$42.8
Loan Modifications / Total Loans Held for Investment (%)	0.80
Per Share Data
Book Value per Share	$34.74
Tangible Book Value per Share(1)	$33.18
YTD Income per Share - Diluted	$4.03
YTD Dividends per Share	$0.75

1. Non-GAAPfinancial measure. See appendix for reconciliation of non-GAAP financial measures.
2. The reserve ratio is calculated excluding balances related to loans that are insured by the FHA or guaranteed by the VA or SBA, including PPP loans.

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HomeStreet Turns 100

• On August 18, 2021, HomeStreet, Inc. celebrated its 100th anniversary
• At that time, incorporations were either delivered by horseback, steam wheeler, or train
• Of the nearly 2,900 incorporations filed that year, only 33 exist today
• Things have changed much during the past century, but HomeStreet has always served its communities with the highest standards and care, surviving the Great Depression, wars, the Thrift Crisis, the Great Recession, and the current pandemic
• We don't know what challenges will face us in the future, but with our culture, employees and loyal customers we feel confident we will continue to thrive

University Village Apartments, Seattle, WA.

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