South Plains Financial Third Quarter 2024 Earnings Presentation October 23, 2024

Safe Harbor Statement and Other Disclosures FORWARD-LOOKING STATEMENTS This presentation contains, and future oral and written statements of South Plains Financial, Inc. (“South Plains”, “SPFI”, or the “Company”) and City Bank (“City Bank” or the “Bank”) may contain, statements about future events that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect South Plains’ current views with respect to future events and South Plains’ financial performance. Any statements about South Plains’ expectations, beliefs, plans, predictions, forecasts, objectives, assumptions or future events or performance are not historical facts and may be forward-looking. These statements are often, but not always, made through the use of words or phrases such as “anticipate,” “believes,” “can,” “could,” “may,” “predicts,” “potential,” “should,” “will,” “estimate,” “plans,” “projects,” “continuing,” “ongoing,” “expects,” “intends” and similar words or phrases. Forward-looking statements include, but are not limited to: (i) projections and estimates of revenues, expenses, income or loss, earnings or loss per share, and other financial items, (ii) statements of plans, objectives and expectations of South Plains or its management, (iii) statements of future economic performance, and (iv) statements of assumptions underlying such statements. Forward-looking statements should not be relied on because they involve known and unknown risks, uncertainties and other factors, some of which are beyond the control of South Plains and City Bank. These risks, uncertainties and other factors may cause the actual results, performance, and achievements of South Plains and City Bank to be materially different from the anticipated future results, performance or achievements expressed in, or implied by, the forward-looking statements. Factors that could cause such differences include, but are not limited to, the impact on us and our customers of a decline in general economic conditions and any regulatory responses thereto; potential recession in the United States and our market areas; the impacts related to or resulting from bank failures and any continuation of uncertainty in the banking industry, including the associated impact to the Company and other financial institutions of any regulatory changes or other mitigation efforts taken by government agencies in response thereto; increased competition for deposits in our market areas and related changes in deposit customer behavior; the impact of changes in market interest rates, whether due to the current elevated interest rate environment or future reductions in interest rates and a resulting decline in net interest income; the resurgence of elevated levels of inflation or inflationary pressures in the United States and our market areas; the uncertain impacts of ongoing quantitative tightening and current and future monetary policies of the Board of Governors of the Federal Reserve System; increases in unemployment rates in the United States and our market areas; declines in commercial real estate values and prices; uncertainty regarding United States fiscal debt, deficit and budget matters; cyber incidents or other failures, disruptions or breaches of our operational or security systems or infrastructure, or those of our third-party vendors or other service providers, including as a result of cyber attacks; severe weather, natural disasters, acts of war or terrorism, geopolitical instability or other external events; the impact of changes in U.S. presidential administrations or Congress; competition and market expansion opportunities; changes in non-interest expenditures or in the anticipated benefits of such expenditures; the risks related to the development, implementation, use and management of emerging technologies, including artificial intelligence and machine learnings; potential increased regulatory requirements and costs related to the transition and physical impacts of climate change; current or future litigation, regulatory examinations or other legal and/or regulatory actions; and changes in applicable laws and regulations. Due to these and other possible uncertainties and risks, South Plains can give no assurance that the results contemplated in the forward-looking statements will be realized and readers are cautioned not to place undue reliance on the forward-looking statements contained in this presentation. Additional information regarding these factors and uncertainties to which South Plains’ business and future financial performance are subject is contained in South Plains’ most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q on file with the U.S. Securities and Exchange Commission (the “SEC”), including the sections entitled "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations“ of such documents, and other documents South Plains files or furnishes with the SEC from time to time. Further, any forward-looking statement speaks only as of the date on which it is made and South Plains undertakes no obligation to update or revise any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events, except as required by applicable law. All forward-looking statements, express or implied, herein are qualified in their entirety by this cautionary statement. NON-GAAP FINANCIAL MEASURES Management believes that certain non-GAAP performance measures used in this presentation provide meaningful information about underlying trends in its business and operations and provide both management and investors a more complete understanding of the Company’s financial position and performance. Non-GAAP financial measures should be viewed in addition to, and not as an alternative for, SPFI’s reported results prepared in accordance with GAAP. Non-GAAP financial measures have limitations as analytical tools, and investors should not consider them in isolation or as a substitute for analysis of the results or financial condition of the Company as reported under GAAP. Numbers in this presentation may not sum due to rounding. 2

Today’s Speakers Curtis C. Griffith Chairman & Chief Executive Officer Elected to the board of directors of First State Bank of Morton, Texas, in 1972 and employed by it in 1979 Elected Chairman of the First State Bank of Morton board in 1984 Chairman of the Board of City Bank and the Company since 1993 Steven B. Crockett Chief Financial Officer & Treasurer Appointed Chief Financial Officer in 2015 Previously Controller of City Bank and the Company for 14 and 5 years respectively Began career in public accounting in 1994 by serving for seven years with a local firm in Lubbock, Texas Cory T. Newsom President Entire banking career with the Company focused on lending and operations Appointed President and Chief Executive Officer of the Bank in 2008 Joined the Board in 2008 3

Third Quarter 2024 Highlights Net income for the third quarter of 2024 was $11.2 million, compared to $11.1 million for the second quarter of 2024 Diluted earnings per share for the third quarter of 2024 was $0.66, unchanged from the second quarter of 2024 Net interest margin was 3.65% for the third quarter of 2024, compared to 3.63% for the second quarter of 2024 Loans held for investment were $3.04 billion as of September 30, 2024, compared to $3.09 billion as of June 30, 2024 Deposits totaled $3.72 billion as of September 30, 2024, compared to $3.62 billion as of June 30, 2024 Estimated uninsured and uncollateralized deposits at City Bank comprise 25% of total deposits The Company remains well capitalized with tangible common equity to tangible assets (non-GAAP) of 9.77%, an increase of 33 basis points as compared to the end of the second quarter of 2024 Tangible book value (non-GAAP) per share was $25.75 as of September 30, 2024, compared to $24.15 as of June 30, 2024 4 Loans Held for Investment (“HFI”) $3.04 B Average Yield on Loans 6.68% Net Income $11.2 M EPS - Diluted $0.66 Net Interest Margin (1) (“NIM”) 3.65% Total Deposits $3.72 B Return on Average Assets (“ROAA”) 1.05% Efficiency Ratio 68.80% Source: Company documents Note: See appendix for the reconciliation of non-GAAP measures to GAAP (1) Net interest margin is calculated on a tax-equivalent basis (non-GAAP)

Granular Deposit Base & Ample Liquidity Total Borrowing Capacity $1.81 Billion 5 Total Deposit Base Breakdown Average deposit account size is approximately $36 thousand City Bank’s percentage of estimated uninsured or uncollateralized deposits is 25% of total deposits City Bank had $1.81 billion of available borrowing capacity, as follows: Federal Home Loan Bank of Dallas - $1.15 billion Federal Reserve Bank of Dallas Discount Window - $664 million No borrowings utilized from these sources during 3Q'24 Source: Company documents Data as of September 30, 2024

Loan Portfolio 3Q'24 Highlights Loans HFI decreased $56.9 million from Q2’24, primarily as a result of: The expected payoff of a $16 million short-term bridge note that was originated in the second quarter of 2024 The early payoff of a $17 million residential land development loan An $19 million decrease in consumer auto loans As of September 30, 2024, loans HFI increased $43.8 million, or 1.5%, from September 30, 2023 The average yield on loans was 6.68% for 3Q'24, compared to 6.60% for 2Q’24. Total Loans HFI $ in Millions 6 Source: Company documents

Attractive Markets Poised for Organic Growth El Paso Basin Dallas / Ft. Worth Population of 865,000+ Adjacent in proximity to Juarez, Mexico’s growing industrial center and an estimated population of 1.5 million people Home to four universities including The University of Texas at El Paso Focus on commercial real estate lending Largest MSA in Texas and fourth largest in the nation Steadily expanding population that accounts for over 26% of the state’s population MSA with the largest job growth in 2022 (+5.9%) Attractive location for companies interested in relocating to more efficient economic environments Focus on commercial real estate lending Houston Second largest MSA in Texas and fifth largest in the nation Total Non-Farm Employment was up 5.6% in 2022 compared to 2021 Called the “Energy Capital of the World,” the area also boasts the world’s largest medical center and second busiest port in the U.S Focus on commercial real estate lending Lubbock Basin Population in excess of 320,000 with major industries in agribusiness, education, and trade among others Home of Texas Tech University – enrollment of 40,000 students Focus on community bank approach and expanding local relationships 7

Major Metropolitan Market Loan Growth 3Q'24 Highlights Loans HFI in our major metropolitan markets(1) decreased by $20 million, to $1.05 billion during 3Q’24, primarily due to: The early payoff of a $17 million residential land development loan The payoff of a $6 million mortgage finance company loan Our major metropolitan market loan portfolio represents 34.6% of the Bank’s total loans HFI at September 30, 2024 Total Metropolitan Market(1) Loans $ in Millions 8 5.00% Source: Company documents (1) The Bank defines its “major metropolitan markets” to include Dallas, Houston and El Paso, Texas

Loan HFI Portfolio Loan Mix Loan Portfolio ($ in millions) Commercial C&D $ 144.8 Residential C&D 212.3 CRE Owner/Occ. 335.4 Other CRE Non Owner/Occ. 579.3 Multi-Family 286.6 C&I 405.6 Agriculture 191.7 1-4 Family 562.4 Auto 253.5 Other Consumer 65.8 Total $ 3,037.4 Fixed vs. Variable Rate 9 Source: Company documents Data as of September 30, 2024

Indirect Auto Overview Indirect Auto Highlights Indirect auto loans totaled $235.1 million at September 30, 2024, down $19 million from the linked quarter Management is carefully managing the portfolio Strong credit quality in the sector, positioned for resiliency across economic cycles(1): Super Prime Credit (>719): $142.3 million Prime Credit (719-660): $69.8 million Near Prime Credit (659-620): $19.6 million Sub-Prime Credit (619-580): $3.0 million Deep Sub-Prime Credit (<580): $463 thousand Loans past due 30+ days: 34 bps of portfolio Non-car/truck (RV, boat, etc.) < 2% of portfolio Indirect Auto Credit Breakdown 10 Source: Company documents Data as of September 30, 2024 (1) Credit score level at origination

Noninterest Income Overview Noninterest Income $ in Millions 3Q'24 Highlights Noninterest income was $10.6 million for 3Q'24, compared to $12.7 million for 2Q'24; primarily due to: A decrease of $1.5 million in mortgage banking revenues, mainly from a decrease of $1.4 million in the fair value adjustment of the mortgage servicing rights assets as interest rates that affect the value declined in 3Q’24 A decrease of $750 thousand in bank card services and interchange revenue mainly as a result of incentives received during 2Q’24 A decrease of $315 thousand in income from investments in Small Business Investment Companies Partially offset by non-recurring insurance proceeds of $700 thousand received in 3Q’24 11 Source: Company documents Note: Mortgage servicing rights fair value (“MSR FV”)

Diversified Revenue Stream Nine Months Ended September 30, 2024 Total Revenues $143.3 million Noninterest Income $34.8 million 12 Source: Company documents

Net Interest Income and Margin Net Interest Income & Margin(1) $ in Millions 3Q'24 Highlights Net interest income (“NII”) of $37.3 million, compared to $35.9 million in 2Q’24 3Q'24 NIM increased 2 bps to 3.65% as compared to 3.63% in 2Q’24, primarily due to: An 8 bps point increase in the yield on loans Partially offset by a 4 bps increase in the cost of deposits 13 3.54% Source: Company documents (1) Net interest margin is calculated on a tax-equivalent basis (non-GAAP)

Deposit Portfolio Total Deposits $ in Millions 3Q'24 Highlights Total deposits of $3.72 billion at 3Q'24, an increase of $94.8 million from 2Q'24 Cost of interest-bearing deposits increased to 3.36% in 3Q'24 from 3.33% in 2Q'24 Average cost of deposits increased 4 bps to 2.47% in 3Q'24 as compared to 2.43% in 2Q’24 Noninterest-bearing deposits to total deposits was 26.8% at September 30, 2024, compared to 26.3% at June 30, 2024 Strategic initiatives implemented to stabilize noninterest-bearing deposits while also growing core deposits 14 Source: Company documents

Credit Quality 3Q'24 Highlights Credit Quality Ratios Net Charge-Offs to Average Loans ACL(1) to Total Loans HFI 15 Provision for credit losses of $495 thousand in 3Q’24, compared to $1.8 million in 2Q'24; 3Q’24 provision was largely due to net charge-off activity, partially offset by decreased loan balances Nonperforming loans totaled $24.7 million at September 30, 2024, and continues to include a $20.0 million nonaccrual multi-family property credit. The loan was modified, with more stringent credit metrics, during 3Q’24 and continues to pay as agreed, with improving credit trends Source: Company documents Allowance for Credit Losses (“ACL”)

Non-Owner Occupied CRE Portfolio 16 Details NOO CRE was 40.3% of total LHI, compared to 39.9% at June 30, 2024 NOO CRE portfolio is made up of $865.9 million of income producing loans and $357.1 million of construction, acquisition, and development loans Estimated weighted average LTV of income-producing NOO CRE was 53% Office NOO CRE loans were 4.6% of total LHI and had a weighted average LTV of 59% NOO CRE loans past due 90+ days or nonaccrual: 72 basis points of total LHI NOO CRE(1) Sector Breakdown Source: Company documents Data as of September 30, 2024 (1) Non-owner occupied commercial real estate (“NOO CRE”) NOO CRE Portfolio ($ in millions) Property Type Total Income-producing: Multi-family $286.7 Retail $175.0 Office $138.6 Hospitality $63.5 Other $202.1 Construction, acquisition, and development: Residential construction $102.6 Other $254.5 Total $1,223.0

Investment Securities 3Q'24 Highlights Investment securities totaled $606.9 million, a $15.9 million increase from 2Q’24. All municipal bonds are in Texas; fair value hedges of $124 million All MBS, CMO, and Asset Backed securities are U.S. Government or GSE Duration of the securities portfolio was 6.42 years at September 30, 2024 3Q'24 Securities Composition $606.9 million Securities & Cash $ in Millions 17 Source: Company documents

Noninterest Expense and Efficiency Noninterest Expense $ in Millions 3Q'24 Highlights Noninterest expense for 3Q'24 increased $556 thousand, or 1.7%, to $33.1 million from 2Q’24, primarily due to: A rise of $226 thousand in net occupancy expenses, mainly from increased utilities An increase of $155 thousand in marketing and development expenses Efficiency ratio of 68.8% in 3Q’24 as compared to 66.7% in 2Q’24 Will continue to manage expenses to drive profitability 18 Source: Company documents

Balance Sheet Growth and Development Balance Sheet Highlights $ in Millions Tangible Book Value Per Share(1) 19 Source: Company documents (1) Tangible book value per share is a non-GAAP measure. See appendix for the reconciliation of non-GAAP measures to GAAP

Strong Capital Base Common Equity Tier 1 Ratio Tier 1 Capital to Average Assets Ratio Total Capital to Risk-Weighted Assets Ratio 20 Source: Company documents (1) Tangible common equity to tangible assets ratio is a non-GAAP measure. See appendix for the reconciliation of non-GAAP measures to GAAP Tangible Common Equity to Tangible Assets Ratio(1)

SPFI’s Core Purpose and Values Align Centered on Relationship-Based Business Our Core Purpose is: To use the power of relationships to help people succeed and live better HELP ALL STAKEHOLDERS SUCCEED Employees  great benefits and opportunities to grow and make a difference. Customers  personalized advice and solutions to achieve their goals. Partners  responsive, trusted win-win partnerships enabling both parties to succeed together. Shareholders  share in the prosperity and performance of the Bank. THE POWER OF RELATIONSHIPS At SPFI, we build lifelong, trusted relationships so you know you always have someone in your corner that understands you, cares about you, and stands ready to help. LIVE BETTER We want to help everyone live better. At the end of the day, we do what we do to help enhance lives. We create a great place to work, help people achieve their goals, and invest generously in our communities because there’s nothing more rewarding than helping people succeed and live better. 21

Appendix 22

Non-GAAP Financial Measures 23 For the quarter ended Source: Company documents $ in thousands September 30, 2024 June 30, 2024 March 31, 2024 December 31, 2023 September 30, 2023 Pre-tax, pre-provision income Net income $ 11,212 $ 11,134 $ 10,874 $ 10,324 $ 13,494 Income tax expense 3,094 3,116 3,143 2,787 3,683 Provision for credit losses 495 1,775 830 600 (700) Pre-tax, pre-provision income $ 14,801 $ 16,025 $ 14,847 $ 13,711 $ 16,477 September 30, 2024 June 30, 2024 March 31, 2024 December 31, 2023 September 30, 2023 Tangible common equity Total common stockholders’ equity $ 443,122 $ 417,985 $ $ 408,712 $ $ 407,114 $ $ 371,716 Less: goodwill and other intangibles (21,197) (21,379) (21,562) (21,744) (21,936) Tangible common equity $ 421,925 $ 396,606 $ $ 387,150 $ $ 385,370 $ $ 349,780 Tangible assets Total assets $ 4,337,659 $ 4,220,936 $ $ 4,218,993 $ $ 4,204,793 $ $ 4,186,440 Less: goodwill and other intangibles (21,197) (21,379) (21,562) (21,744) (21,936) Tangible assets $ 4,316,462 $ 4,199,557 $ $ 4,197,431 $ $ 4,183,049 $ $ 4,164,504 Shares outstanding 16,386,627 16,424,021 16,431,755 16,417,099 16,600,442 Total stockholders’ equity to total assets 10.22% 9.90% 9.69% 9.68% 8.88% Tangible common equity to tangible assets 9.77% 9.44% 9.22% 9.21% 8.40% Book value per share $ 27.04 $ 25.45 $ 24.87 $ 24.80 $ 22.39 Tangible book value per share $ 25.75 $ 24.15 $ 23.56 $ 23.47 $ 21.07

Non-GAAP Financial Measures 24 September 30, 2024 June 30, 2024 March 31, 2024 December 31, 2023 September 30, 2023 For the quarter ended Source: Company documents $ in thousands Efficiency Ratio Noninterest expense $ 33,128 $ 32,572 $ 31,930 $ 30,597 $ 31,489 Net interest income 37,294 35,888 35,368 35,162 35,689 Tax equivalent yield adjustment 221 223 223 225 229 Noninterest income 10,635 12,709 11,409 9,146 12,277 Total income 48,150 48,820 47,000 44,533 48,195 Efficiency ratio 68.80% 66.72% 67.94% 68.71% 65.34% Noninterest expense $ 33,128 $ 32,572 $ 31,930 $ 30,597 $ 31,489 Less: subsidiary transaction and related expenses — — — — — Adjusted noninterest expense 33,128 32,572 31,930 30,597 31,489 Total income 48,150 48,820 47,000 44,533 48,195 Less: gain on sale of subsidiary — — — — (290) Adjusted total income 48,150 48,820 47,000 44,243 47,905 Adjusted efficiency ratio 68.80% 66.72% 67.94% 68.71% 65.73%