November 2026 Investor Presentation

November 3, 2026

I1'7DE PE1'JDE1siT

Parent of Rockland Trust

$18.6 B

LOANS

$20.5 B

DEPOSITS

$9.5 B

WEALTH MANAGEMENT

$3.9 B

MARKET CAP*

*as of October 30, 2026

2

$25.0 B

TOTAL ASSETS

Key Metrics

as of September 30 2026

We remain committed to our colleagues, customers, community and shareholders. This connects our purpose to everything we do. It transforms what banking means from a mere transaction to the chance to make a positive difference in the lives of others. This motivates our colleagues to do the best we can for every customer and cultivate sustainable value creation over the long-term.

Customers

Colleagues

Community

Shareholders

CULTURE | BRAND | VALUES

Where Each Relationship Matters®

Being the Bank Where Each Relationship Matters®

is foundational to our vision

3

Safe & Sound

• Strong balance sheet

• Prudent interest rate and liquidity risk management

• Significant capital buffer

• Diversified, low-cost deposit base

• Experienced commercial lender with conservative credit culture

• Disciplined operator and acquiror

• Full suite of retail banking, commercial banking, and wealth product offerings

• Relationship-oriented commercial lending with strong local market knowledge and presence

• Exceptional third party customer service recognition in both commercial and retail

• Strong brand awareness and reputation

  Attractive Market

  • Top performing MA-based bank with scale and

    density

  • Supported by strong demographics in key markets served

  • Depth of market offers opportunities for continued growth

  • 2025 Enterprise acquisition added density to existing markets and expanded the Rockland franchise into Northern MA and Southern NH

  High Performing

• Consistent, strong profitability

• Focused on maintaining good margins

• Fee income contribution from scalable wealth franchise

• Efficient cost structure focused on operating leverage

• History of organic capital generation

4

Consistent recognition across employee experience, financial performance, and community impact.

5

Q3 2026

Q2 2026

Q1 2026

Q4 2025

Q3 2025

1.00%

1.20%

1.23%

1.34%

1.35%

1.34%

1.40%

1.42%

Operating ROAA(1)

Q3 2026

Q2 2026

Q1 2026

Q4 2025

Q3 2025

$1.00

$1.50

$1.55

$1.70

$1.68

$1.70

$1.90

$2.00

Operating EPS(1)

(1) Represents a non-GAAP measure. See Appendices for reconciliation to the corresponding GAAP measures. 6

Q3 2026

Q2 2026

Q1 2026

Q4 2025

Q3 2025

10.00%

12.50%

13.22%

14.05%

14.05%

14.30%

15.00%

15.43%

Operating ROATCE(1)

Q3 2026

Q2 2026

Q1 2026

Q4 2025

Q3 2025

1.00%

1.50%

1.70%

1.85%

1.85%

1.78%

1.95%

2.00%

Operating Pre-Provision Net Revenue ROAA(1)

• Record operating EPS of $1.90, increase of

  $0.20, or 12%, from prior quarter(1)

• Reported net interest margin of 3.89%, adjusted margin of 3.76%(1)

• Loans increased $158.2 million, or 0.9%, with growth across most major categories

• Deposits increased $135.3 million, or 0.7% (average deposits up $633.8 milion), with solid growth in business and consumer accounts partially offset by seasonality in municipal accounts

• Provision of $6.5 million driven primarily by one new non-performing loan

• Wealth AUA consistent at $9.5 billion

• Approximately 679,000 shares repurchased for $57.4 million

(1) Represents a non-GAAP measure. See Appendices for reconciliation to the corresponding GAAP measures. 7

(Dollars in millions)

Deposit Product Type

Noninterest-bearing demand deposits

Savings and interest checking

Money market

$ in billions

Time certificates of deposit Total deposits

8

Cost of deposits

Deposits

Q3 2026

Q2 2026

Q1 2026

Q4 2025

$0.0

$5.0

1.42%

1.36%

1.36%

1.46%

$10.0

$15.0

$20.0

$20.6

$19.9

$20.0

$20.3

Average Balances and Cost of Deposits

Savings/Int. Checking -32%

Money Market -25%

DDA -28%

Time Deposits -15%

Deposit Composition

Market Share by county 2026 - Market Share % and Rank across our footprint

MARKET SHARE BY COUNTY

COUNTIES RANKED BY 2026 DEPOSIT MARKET SHARE

Market

Counties Deposits ($bn) Share (%) Rank Branches

Source: S&P Capital IQ Pro

Note: Deposit/Market Share data above is as of June 30, 2026.

Total 20.4 150

1. Includes one electronic branch

Key Takeaways

Rank #1 in Plymouth County with 28.2%

market share and $5.3 billion deposits

Expanding presence in New Hampshire with attractive opportunities

9

(Dollars in millions)

Loan Category Commercial and industrial Commercial real estate Commercial construction Total commercial Residential real estate Home equity

$60

Total consumer real estate Total other consumer Total loans

$ 4,731 $ 49 1.0%

7,944 (84) (1.1)%

1,464 115 7.9%

14,139 80 0.6%

2,870 40 1.4%

1,343 41 3.1%

4,213 81 1.9%

42 (2) (4.8)%

$38

$ 18,394 $159 0.9%

10

Linked Quarter Change in Commercial Loans

$60

$38

$14,139

$14,219

$(11) $(7)

Q2 2026

C&I ex. Dealer Finance

CRE ex. Office

C&I - Dealer Finance

CRE - Office

Q3 2026

275%

Office - 10.9%

($Bil)

CRE

CRE/Capital *

$12.0

$9.7

250%

$0.0

Mixed-Use Office - 1.9%

Residential -Related - 16.0%

Industrial/ Warehouse - 9.9%

Lodging - 8.5%

Multi-Family - 31.5%

Retail - 16.0%

CRE & Construction Portfolio

$9.4 billion

Other - 4.6%

Healthcare - 0.7%

*Rockland Trust Bank only.

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Q4 2025 Q1 2026 Q2 2026 Q3 2026

Health Care and Social Assistance -8.8%

Wholesale Trade - 10.8%

Construction - 10.2%

Accommodation and Food Services -8.3%

Manufacturing - 8.0%

Real Estate/Rental and Leasing - 9.2%

Educational Services - 3.9%

Retail Trade - 15.9%

All Other - 24.9%

C&I Portfolio

$4.8 billion

$9.6

278%

$9.4

$9.4

$8.0

300%

290%

$4.0

283%

278%

12

1.00%

$472.9

1.08%

1.06%

1.03%

1.03%

Allowance for Credit Loss &

Delinquency Trends

3.87%

3.86%

4.04%

3.31%

Delinquent Loans/Total Loans

0.73%

0.50%

0.32%

0.41%

0.43%

0.00%

Q4 2025

Q1 2026

Q2 2026

Q3 2026

Allowance for Credit Losses/Total Loans

$550.9

$160

0.50%

$80

0.25%

$0

Q4 2025 Q1 2026 Q2 2026 Q3 2026

NPLs ($Mil) NPL as % of Total Loans

0.45%

Commercial Criticized & Classified Loans

($ in millions)

$600.0

$450.0

$300.0

$150.0

$-

$575.5

$545.6

$125.7

6.00%

4.50%

3.00%

1.50%

-%

Q4 2025 Q1 2026 Q2 2026 Q3 2026

Criticized & Classified Loans

Criticized & Classified Loans as a % of Total Commercial Loans

0.75%

Nonperforming Loans ($ in millions)

0.56%

0.52%

0.68%

$103.6

$96.6

$83.6

13

CRE & Construction

Portfolio

Other CRE &

$9.4 billion

Construction - 89.2%

Office ($1.016B) - 10.8%

1. Represents a non-GAAP measure. See Appendices for reconciliation to the corresponding GAAP measures. 14

2.00%

6.00%

3.36%

3.13%

3.08%

2.96%

2.84%

4.00%

5.64%

5.58%

5.55%

5.57%

5.61%

Funding costs

1.72%

1.60%

1.52%

1.52%

1.56%

-%

Q3 2025

Q4 2025

Q1 2026

Q2 2026

Q3 2026

Security yields

Adjusted loan yields(1)

3.62%

4bp

-1bp

-26bp

-39bp

-4bp

Adjusted NIM (1)

Reported NIM

Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026

3.64%

3.54%

3.76%

3.76%

3.72%

Trend in Asset Yields vs. Funding Costs

Avg. Fed Funds Impact

3.89%

3.85%

3.90%

3.77%

4.00%

3.80%

3.60%

3.40%

3.20%

3.00%

Net Interest Margin

Total Loan Portfolio Rate Characteristics

Fixed Rate

Floating Rate Variable Rate

40%

34%

26%

8.00%

15.71%

2023

9.44%

12.68%

15.59%

*Q3 2026 ratios are estimated.

**Includes all shares repurchased in Q4 through October 30, 2026.

Quarterly Share Repurchase Activity

15.76%

P eriod Ended

Total Capital*

12.89%

12.81%

Common Equity Tier 1*

9.86%

9.69%

Tangible Common Equity / Tangible Assets(1)

March 31

2026

June 30

2026

$46.96

$20.0

9.44%

9.88%

10%

10.86%

10.31%

$40.0

$47.89

$47.55

Tangible Equity/Tangible Assets %

$44.13

Tangible Book Value(1)

(1) Represents a non-GAAP measure. See Appendices for reconciliation to the corresponding GAAP measures.

• Tangible book growth prioritization

• History of healthy dividend increases

  • 15 straight years of increases

  • no cut during great financial crisis

15

2024

2025

Q3 2026

TBV Per Share

Fair Value

Fair Value

Available for Sale (AFS) Held to Maturity (HTM)

Value

Portfolio Composition at September 30, 2026 Book

Unrealized Gain/(Loss)

Book Value

Unrealized Gain/(Loss)

$ in millions

16

1.99%

4Q28

2.18%

4Q26

2.54%

2.54%

2.95%

3.82%

3.40%

1.86%

4Q27

2.02%

1Q28

2.26%

2Q28

2.30%

3Q28

Yield

$0.0

0.00%

1Q27

2Q27

3Q27

1Q29

2Q29

3Q29

4Q29

Paydowns*

$136.3

Projected Quarterly Paydowns and Maturities

$277.0

15.00%

$200.0

$184.4

$188.0

$185.3

$191.4

$187.0

10.00%

$300.0

$117.6

$122.6 $122.8

$100.0

$93.8

$97.4

$80.5

5.00%

3.47%

4.05%

$5,000

Q3 2026

Q2 2026

Q1 2026

Q4 2025

$0

$50.0

$50.0

$43.6

$40.0

$35.3

$36.8

$40.2

$42.7

$30.0

$20.0

$10.0

$0.0

2021

2022

2023

2024

2025 YTD 2026

2021

$5.7

2022

2023

2024

2025 Q3 2026

• Improved referral infrastructure

• Enhanced product set:

  • Premier banking initiative (new)

  • Bank owner advisory services (new)

  • Financial and estate planning

  • Tax preparation

  • Insurance

17

$0.0

$5.0

$6.5

$5.8

$9,506

$7.0

$9.5

Assets Under Administration (AUA)

13% CAGR

$9.2

$10.0

Revenues

9% CAGR

Recent Trends in AUA

$10,000

$9,217

$9,172

$9,470

$ in millions

$ in millions

$ in billions

• Commercial real estate and Construction: low-single digit annualized percentage increase

• Commercial and Industrial: mid-single digit annualized percentage increase

• Home equity: high-single digit annualized percentage increase

• Residential mortgage: flat to low-single digit annualized percentage increase

  Deposit Growth

• Flat to low-single digit annualized percentage increase

  Net Interest Income/ Margin

• • Net interest income: modest increase

  • Net interest margin: assuming no change in rates, reported margin in the low 3.90% range, including an estimated 10 basis point benefit from purchase loan accretion

    Loan Loss Provision

• Stable asset quality metrics

  Non-interest Income

• Low-single digit annualized percentage increase

  Non-interest Expense

• • Expenses excluding core conversion costs: low-single digit annualized percentage increase

  • Core conversion costs of approximately $1.0-1.5 million

    Tax Rate

• 23.3 - 23.4%, excluding discrete impact from annual tax return filing

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• Capitalizing on growth opportunities in expanded markets

  • Promote depth and breath of product set

  • Strengthen community engagement

  • Capture new market opportunities

• Growing C&I lending business

  • Expanded middle market capabilities; recent growth driver

  • Dedicated teams/verticals (non-profit, franchise, ABL)

• Expanding Treasury management services

  • Enhanced foreign currency/exchange capabilities

  • Dedicated sales resources - product development and education

• Business Banking / Branch realignment

  • Increasing business banking service resources

  • Improved internal reporting over customer ownership

• Expanding Wealth management services

  • Business owner advisory services - differentiated consulting capability

  • Enhanced dedicated sales team in Enterprise market

  • Capitalizing on municipal opportunities

• Improving referral infrastructure and incentives

  • Salesforce investment tailored to RTC business model

  • Redesign of internal referral program across all business lines

• Approved commercial pipeline at 9/30/26 of $574 million, up 12.5% from 6/30/26

• MA rent control initiative - voted down by courts in June 2026

• Core system upgrade - February 2027

  • Streamline front line - back office communications and service needs

    • Process and procedure review to align with improved technology

    • Enhanced efficiency relating to cash management capabilities

• Established Digital Innovation team

  • In process: creation of AI governance model

  • Mid-2026: develop high priority/high impact AI capabilities

• Commercial loan origination system review

  • 2026 project to redesign origination process (NCINO)

• Expense focus reporting and monitoring

• Expanded and aligned FP&A and procurement capabilities

  19

  INDB Investment Merits

20