a4q23earningspresentatio

4 Q 2 3 E a r n i n g s P r e s e n t a t i o n J a n u a r y 2 5 , 2 0 2 4 Exhibit 99.2

Forward Looking Statements This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are not historical facts and include expressions about management’s confidence and strategies and management’s expectations about our business, new and existing programs and products, acquisitions, relationships, opportunities, taxation, technology, market conditions and economic expectations. These statements may be identified by such forward-looking terminology as “intend,” “should,” “expect,” “believe,” “view,” “opportunity,” “allow,” “continues,” “reflects,” “typically,” “usually,” “anticipate,” “may,” “estimate,” “outlook,” “project”, “imperatives” or similar statements or variations of such terms. Such forward-looking statements involve certain risks and uncertainties. Actual results may differ materially from such forward-looking statements. Factors that may cause actual results to differ materially from those contemplated by such forward-looking statements include, but are not limited to: the impact of monetary and fiscal policies of the federal government and its agencies, including in response to higher inflation, which could have a material adverse effect on our clients, as well as our business, our employees, and our ability to provide services to our customers;the impact of a potential U.S. Government shutdown, default by the U.S. government on its debt obligations, or related credit-rating downgrades, on economic activity in the markets in which we operate and, in general, on levels of end market demand in the economy;the impact of unfavorable macroeconomic conditions or downturns, instability or volatility in financial markets, unanticipated loan delinquencies, loss of collateral, decreased service revenues, increased business disruptions or failures, reductions in employment, and other potential negative effects on our business, employees or clients caused by factors outside of our control, such as geopolitical instabilities or events (including the Israel-Hamas war); natural and other disasters (including severe weather events); health emergencies; acts of terrorism or other external events; risks associated with our acquisition of Bank Leumi Le-Israel Corporation (Bank Leumi USA), including (i) the inability to realize expected cost savings and synergies from the acquisition in the amounts or timeframe anticipated and (ii) greater than expected costs or difficulties relating to integration as part of Valley's new core banking system implemented in the fourth quarter 2023; the impact of potential instability within the U.S. financial sector in the aftermath of the banking failures in 2023, including the possibility of a run on deposits by a coordinated deposit base, and the impact of the actual or perceived soundness, or concerns about the creditworthiness of other financial institutions, including any resulting disruption within the financial markets, increased expenses, including FDIC insurance premiums, or adverse impact on our stock price, deposits or our ability to borrow or raise capital;the impact of negative public opinion regarding Valley or banks in general that damages our reputation and adversely impacts business and revenues;the loss of or decrease in lower-cost funding sources within our deposit base; damage verdicts or settlements or restrictions related to existing or potential class action litigation or individual litigation arising from claims of violations of laws or regulations, contractual claims, breach of fiduciary responsibility, negligence, fraud, environmental laws, patent, trademark or other intellectual property infringement, misappropriation or other violation, employment related claims, and other matters;a prolonged downturn in the economy, as well as an unexpected decline in commercial real estate values collateralizing a significant portion of our loan portfolio;higher or lower than expected income tax expense or tax rates, including increases or decreases resulting from changes in uncertain tax position liabilities, tax laws, regulations and case law;the inability to grow customer deposits to keep pace with loan growth;a material change in our allowance for credit losses under CECL due to forecasted economic conditions and/or unexpected credit deterioration in our loan and investment portfolios;the need to supplement debt or equity capital to maintain or exceed internal capital thresholds;greater than expected technology related costs due to, among other factors, prolonged or failed implementations, additional project staffing and obsolescence caused by continuous and rapid market innovations; cyberattacks, ransomware attacks, computer viruses, malware or other cybersecurity incidents that may breach the security of our websites or other systems or networks to obtain unauthorized access to personal, confidential, proprietary or sensitive information, destroy data, disable or degrade service, or sabotage our systems or networks;results of examinations by the Office of the Comptroller of the Currency (OCC), the Federal Reserve Bank, the Consumer Financial Protection Bureau (CFPB) and other regulatory authorities, including the possibility that any such regulatory authority may, among other things, require us to increase our allowance for credit losses, write-down assets, reimburse customers, change the way we do business, or limit or eliminate certain other banking activities;our inability or determination not to pay dividends at current levels, or at all, because of inadequate earnings, regulatory restrictions or limitations, changes in our capital requirements or a decision to increase capital by retaining more earnings;unanticipated loan delinquencies, loss of collateral, decreased service revenues, and other potential negative effects on our business caused by severe weather, pandemics or other public health crises, acts of terrorism or other external events; andunexpected significant declines in the loan portfolio due to the lack of economic expansion, increased competition, large prepayments, changes in regulatory lending guidance or other factors.A detailed discussion of factors that could affect our results is included in our SEC filings, including the “Risk Factors” section of our Annual Report on Form 10-K for the year ended December 31, 2022 and in Item 1A of our Quarterly Report on Form 10-Q for the quarter ended September 30, 2023.The financial results and disclosures reported in this release are preliminary. Final 2023 financial results and other disclosures will be reported in our Annual Report on Form 10-K for the year ended December 31, 2023, and may differ materially from the results and disclosures in this document due to, among other things, the completion of final review procedures, the occurrence of subsequent events, or the discovery of additional information.We undertake no duty to update any forward-looking statement to conform the statement to actual results or changes in our expectations, except as required by law. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements.

3 Significant Strategic Progress Above-Average Tangible Book Value Growth ▪ Since 2018, growth in tangible book value plus dividends paid totals 90% 1, well above our proxy peer median of 53%. ▪ Continue to believe that tangible book value growth over time will drive shareholder value. Enhanced Funding Diversification Substantial Exposure to Compelling Growth Markets Northeast Branches $14.2 78% Southeast Branches, Specialty, Brokered & Other $3.9 22% Northeast Branches $22.4 45% Southeast Branches, Specialty, Brokered & Other $26.8 55% Deposits ($bn) at 12/31/17 $1.1 $12.1 12/31/14 12/31/23 Florida Loans ($bn) ▪ Florida’s diverse and dynamic economy continues to be supported by significant inflows of permanent population and wealth. ▪ These long-term demographic trends provide substantial growth opportunities and supplement our strong and stable northeast markets. ▪ Our Florida portfolio has grown at a 30% CAGR since 2014, or more than 2x our non- Florida loans, and now comprises 24% of loans, up from 8% in 2014. 1 Please refer to the Non-GAAP Disclosure Reconciliation in Appendix. Deposits ($bn) at 12/31/23

4 Strategic Imperatives for 2024 Grow Core Deposits ▪ Utilize enhanced treasury management capabilities to further penetrate commercial customers. ▪ Optimize delivery channels and streamline product set. ▪ Leverage existing specialty niches and explore new opportunities. Focus on C&I and Non-Investor CRE Loan Growth ▪ Further penetrate our commercially vibrant footprint. ▪ Restructured commercial banking organization and incentive programs to optimize alignment with strategic and financial goals. ▪ De-emphasize investor CRE and multifamily growth. Drive Sustainable Fee Revenue ▪ Continue to scale our wealth, insurance, and tax credit advisory businesses. ▪ Expand F/X and treasury management solutions.`

5 4Q23 3Q23 4Q22 4Q23 3Q23 4Q22 Net Income ($mm) $71.6 $141.3 $177.6 $116.3 $136.4 $182.9 Return on Average Assets Annualized 0.47% 0.92% 1.25% 0.76% 0.89% 1.29% Efficiency Ratio (Non-GAAP) -- -- -- 60.7% 56.7% 49.3% Diluted Earnings Per Share $0.13 $0.27 $0.34 $0.22 $0.26 $0.35 Pre-Provision Net Revenue 2 ($mm) $109.6 $203.9 $252.4 $176.5 $201.2 $263.0 PPNR / Average Assets 2 Annualized 0.72% 1.33% 1.77% 1.16% 1.31% 1.85% GAAP Reported Non-GAAP Adjusted 1 1 Please refer to the Non-GAAP Disclosure Reconciliation in Appendix. 2 Pre-provision net revenue (“PPNR”) equals net interest income plus total non-interest income less total non-interest expense. 4Q 2023 Financial Highlights Significant expansion of customer households and continued improvement in direct deposit flows. Capital ratios continue to improve. Solid asset quality across the loan portfolio. Undertaking specific and targeted efforts to improve deposit costs.

6 23.1 24.5 11.7 11.5 15.1 13.2 $49.9 $49.2 9/30/2023 12/31/2023 Time Non-Interest Savings, NOW and money market 23% 46% 24% 30% 0.15% 1.36% 1.96% 2.45% 2.94% 3.13% 0.25% 3.82% 4.69% 5.16% 5.43% 5.50% 4Q21 4Q22 1Q23 2Q23 3Q23 4Q23 Total Deposits Average Fed Funds (Upper) Direct Deposits Exhibit Strong Growth Trends Deposits by Product ($bn) 27% 50% Avg. Fed Funds vs. Deposit Costs (%) Cumulative Beta (Current Cycle) 1 1 Cumulative Beta is measured as the change in Valley’s quarterly average deposit costs since the quarter preceding the rate hike cycle (4Q21) as a percentage of the change in the average quarterly Fed Funds Upper Bound over the same period. Avg. Fed Funds (Upper) Total Cost of Deposits Cumulative Beta 4Q21 0.25% 0.15% -- 4Q22 3.82% 1.36% 34% 1Q23 4.69% 1.96% 41% 2Q23 5.16% 2.45% 47% 3Q23 5.43% 2.94% 54% 4Q23 5.50% 3.13% 57% 40.0 41.6 9.9 7.6 $49.9 $49.2 9/30/2023 12/31/2023 Direct Indirect Deposits by Customer Type ($bn) 80% 85% 15%20%

7 Customer Deposit Base Diversified by Geography and Source Traditional Branch Deposits $31.9 65% Specialized Deposits $9.7 20% Fully FDIC-Insured Indirect Customer $7.6 15% Nat'l Deposits, Cannabis & Online $3.7 International Corporate $0.8 Technology $1.4 Private Banking & Wealth $1.6 Other Commercial $2.2 $49.2bn $9.7bn New Jersey $17.5 New York $4.9 Florida $7.9 Alabama $1.6 $31.9bn Total Deposit Breakdown ($bn, as of 12/31/23) Specialized Deposits by Business Line ($bn, as of 12/31/23)Traditional Branch Deposits 3 ($bn, as of 12/31/23) Uninsured Deposit & Liquidity ($bn, as of 12/31/23) 1 Adjusted for collateralized government deposits in excess of FDIC $250k limit and intercompany deposits eliminated in consolidation. 2 “High Quality Available Liquidity” includes the following off balance sheet sources of potential liquidity: FHLB, unencumbered investment securities, FRBNY Discount Window Availability, and Uncommitted Fed Funds Lines. 3 Traditional Branch Deposits Include Commercial (inclusive of $1bn of HOA deposits), Consumer and Government. Totals may not sum due to rounding. $12.2 $0.9 $25.4 $26.3 Adjusted Uninsured Deposits Cash & Available Liquidity Cash on Balance Sheet High Quality Available Liquidity 2 Cash & Available Liquidity Stands at 2.2x of Adjusted Uninsured Deposits 1 128 branches 16 branches 42 branches 42 branches Adjusted Uninsured Deposits 1 25%

8 NJ $2.3 NY $0.5 FL $0.8 PA $0.7 Other $1.3 Highly Granular Deposits – 12/31/2023 Customer Type Deposits ($bn) % of Total Deposits Commercial $18.7 38% Consumer $17.4 35% Fully FDIC-Insured Indirect $7.6 11% Fully-Collateralized Government 1 $5.6 15% Top 10 Commercial Industries 2 Deposits ($bn) % of Total Deposits Real Estate / Rental / Leasing $3.6 7% Finance & Insurance $3.5 7% Professional, Scientific, Technical Services $2.2 4% Construction $1.7 3% Other Services $1.5 3% Retail Trade $0.9 2% Health Care & Social Assistance $0.9 2% Manufacturing $0.9 2% Wholesale Trade $0.8 2% Management of Companies and Enterprises $0.4 1% 1 Fully-collateralized to relevant state requirements. 2 Commercial industries determined by NAICS Sector / Industry. $5.6bn Fully-Collateralized Government Deposits by State 1

9 Multifamily 18% Non Owner-Occupied CRE 26% Healthcare CRE 4% Owner-Occupied CRE 9% C&I 18% Consumer 7% Residential R.E. 11% Construction 7% CRE 48% C&I 27%Other 25% New Loan Originations ($bn) 1 CRE includes multifamily, non-owner occupied CRE and healthcare CRE; C&I includes owner-occupied CRE and C&I; Other includes construction, residential RE and Consumer. 2 Cumulative Beta is measured as the change in Valley’s quarterly average loan yield since the quarter preceding the rate hike cycle (4Q21) as a percentage of the change in the average quarterly Fed Funds Upper Bound over the same period. Diversified Loan Portfolio Gross Loans ($bn) $46.9 $48.7 $49.9 $50.1 $50.2 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 12/31/2023 Loan Composition 1 YTD Annualized Growth: $2.6 $2.5 $2.5 $1.8 $2.2 6.20% 6.61% 7.35% 7.91% 7.83% 5.20% 5.48% 5.78% 6.03% 6.10% 4Q22 1Q23 2Q23 3Q23 4Q23 Origination Volume (Gross) New Origination Rate Avg. Portfolio Yield Cumulative Loan Beta (Current Cycle) 2 Avg. Fed Funds (Upper) Avg. Loan Yield Cumulative Beta 4Q21 0.25% 3.83% -- 4Q22 3.82% 5.20% 38% 1Q23 4.69% 5.48% 37% 2Q23 5.16% 5.78% 40% 3Q23 5.43% 6.03% 43% 4Q23 5.50% 6.10% 43% +14.9% +12.6% +9.0% +7.0%

10 CRE Detail as of 12/31/2023 Portfolio by Collateral Type Apartment & Residential 24% Co-Ops 7% Retail 17% Mixed Use 11% Office 10% Healthcare Office 2% Industrial 11% Healthcare 8%Specialty & Other 10% Portfolio by Geography Florida 25.1% New Jersey 21.0% Other 21.3% Other NYC Boroughs 14.9% Manhattan (Multifamily) 5.7% Manhattan (Other) 4.3% New York (ex. NYC) 7.7% Geography Outstanding ($bn) % of Total Wtd. Avg. LTV Wtd. Avg. DSCR Florida $7.1 25.1% 61% 1.79x New Jersey $5.9 21.0% 62% 1.69x Other NYC Boroughs $4.2 14.9% 54% 1.53x Manhattan $2.8 10.0% 38% (54% ex Co-Ops) 1.59x New York (ex. NYC) $2.2 7.7% 54% 1.74x Other $6.0 21.3% 63% 1.58x Total $28.0 100.0% 57% 1.67x $28.2bn $28.2bn Sums may be inconsistent due to rounding. ~$4bn of CRE Portfolio is Owner-Occupied.

11 Co-Op $2.0 Non Co-Op $6.8 Apartment & Residential 24% Co-Ops 7% Multifamily Portfolio Details CRE Portfolio $28.2bn Multifamily Portfolio by Sub-Asset Class ($bn) $8.8bn $421mm of exposure to fully rent regulated buildings Note: Co-Op LTV is approximately 13% Sums may be inconsistent due to rounding. Geography Outstanding ($bn) Avg. Size ($mm) % of Non Co-Op Wtd. Avg. LTV Wtd. Avg. DSCR Other $1.9bn $9mm 28% 65% 1.36x New York (ex. Manhattan) $1.8 $6mm 26% 63% 1.38x New Jersey $1.4 $3mm 21% 61% 1.54x Florida & Alabama $1.1 $3mm 16% 61% 1.69x Manhattan $0.6 $7mm 9% 58% 1.33x Total $6.8bn $5mm 100% 62% 1.43x

12 Florida & Alabama $1.2 37% New Jersey $0.9 27%Other $0.4 12% New York (ex. Manhattan) $0.5 15% Manhattan $0.3 9% Office 10% Healthcare Office 2% Granular & Diverse Office Portfolio CRE Portfolio $28.2bn Office Portfolio by Geography ($bn) $3.3bn Geography Outstanding ($bn) Avg. Size ($mm) % of Total Office Wtd. Avg. LTV Wtd. Avg. DSCR Florida & Alabama $1.2bn $2mm 37% 50% 1.77x New Jersey $0.9 $3mm 27% 56% 1.50x New York (ex. Manhattan) $0.5 $4mm 15% 51% 1.76x Manhattan $0.3 $6mm 9% 52% 1.34x Other $0.4 $7mm 12% 59% 1.69x Total $3.3bn $3mm 100% 53% 1.63x ~20% of Office Portfolio is Owner-Occupied. Sums may be inconsistent due to rounding.

13 Net Interest Income ($mm) and Margin Net Interest Margin $467 $437 $421 $414 $399 3.57% 3.16% 2.94% 2.91% 2.82% 4Q22 1Q23 2Q23 3Q23 4Q23 Net Interest Income ($mm) NIM All metrics are presented on a fully tax equivalent basis. Reduced Valley Direct (online) rate by 20bp on 1/16/2024 ($1.4bn) 75bp reduction to 1 Year CD Rate since 12/1/2023 ($3.9bn) Renewed Emphasis on customer profitability and granular review of deposit pricing Optimizing the roll-over of $5.6 billion of maturing liabilities during 1Q24 (current cost of 4.96%) Accelerating Efforts to Manage Funding Costs $5.6 $3.5 $2.7 $1.5 $2.4 4.96% 4.86% 4.70% 4.62% 4.01% 1Q24 2Q24 3Q24 4Q24 2025 and Beyond Maturing CDs and FHLB Balance ($bn) Rate (%)

14 $17.8 $18.5 $18.5 $10.1 $7.1 $6.5 $13.6 $13.8 $15.2 $0.9 $2.0 $2.3 $10.3 $11.0 $9.3 $6.3 $0.9 $52.8 $58.7 $52.7 4Q22 3Q23 4Q23 Other Non-Interest Income Capital Markets Wealth, Trust & Insurance Gain on Sale of Loans Deposit Service Charges Net non-core income Other $16.8 32% Wealth, Trust & Insurance $15.2 29% Capital Markets $6.5 12% Service Charges $9.3 18% Gain-on-Sale of Loans, net $2.3 4% Loan Servicing $2.6 5% 4Q23 Adjusted Non-Interest Income ($mm) 1 Diverse Fee Income Sources $52.7mm Non-Interest Income ($mm) 1 Please refer to the Non-GAAP Disclosure Reconciliation in Appendix. 1

15 263.6 272.6 3.5 67.8 267.1 340.4 3Q23 4Q23 Adjusted Reported 1 Please refer to the Non-GAAP Disclosure Reconciliation in Appendix. Sums may be inconsistent due to rounding. Non-Interest Expense Non-Interest Expenses ($mm) 1 Efficiency Ratio Trend 1 56.7% 60.7% 3Q23 4Q23 1.80% 1.72% 1.78% 4Q22 3Q23 4Q23 Adj. Non-Interest Expenses 1 / Avg. Assets

16 0.57% 0.50% 0.51% 0.52% 0.58% 12/31/22 3/31/23 6/30/23 9/30/23 12/31/23 Asset Quality Non-Accrual Loans / Total Loans Loan Loss Provision ($mm) Allowance for Credit Losses for Loans / Total Loans 0.99% 1.03% 1.03% 0.95% 0.92% 0.92% 0.93% 12/31/22 3/31/23 6/30/23 9/30/23 12/31/23 Net Loan Charge-offs ($mm) $22 $30 $9 $6 $17 0.19% 0.25% 0.07% 0.04% 0.14% 4Q22 1Q23 2Q23 3Q23 4Q23 Net Charge-offs (Recoveries) NCOs / Avg. Loans $7.3 $9.5 $6.3 $9.1 $20.7 4Q22 1Q23 2Q23 3Q23 4Q23 2023 NCOs / Avg. Loans: 0.13%

17 Equity & Capitalization $8.15 $8.36 $8.51 $8.63 $8.79 $12.23 $12.41 $12.54 $12.64 $12.79 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 TBV per share Book Value per share Book Value and Tangible Book Value per Share 1 Equity Capitalization Level 1 1 Please refer to the Non-GAAP Disclosure Reconciliation in Appendix. 7.45% 6.82% 7.24% 7.40% 7.58% 11.14% 10.12% 10.66% 10.83% 11.00% 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 Tangible Common Equity / Tangible Assets Equity / Assets Holding Company Capital Ratios 12/31/22 9/30/23 12/31/23 Tier 1 Leverage 8.23 8.08 8.16 Common Equity Tier 1 9.01 9.21 9.29 Tier 1 Risk-Based 9.46 9.64 9.72 Total Risk-Based 11.63 11.68 11.76 1

18 • 5.0% - 7.0% (increasing focus on C&I and non-investor CRE) (based on 12/31/2023 gross loans of $50.2 billion) 2024 Loan Growth • Year-over-year growth between 3.0% - 5.0% (from full-year 2023 net interest income of $1,665 million) Net Interest Income • Year-over-year growth between 5.0% - 7.0% (based on 2023 adjusted non-interest income of $219 million) Non-Interest Income • Year-over-year growth between 4.0% - 6.0% (based on 2023 adjusted expenses plus tax credit amortization: $1,085 million) Non-Interest Expense • Approximately 27%2024 Tax Rate 2024 Outlook & Expectations The Company is providing this outlook only on a non-GAAP basis because not all of the information necessary for a quantitative reconciliation of forward-looking non-GAAP financial measures to the most directly comparable GAAP financial measure is available without unreasonable effort, primarily due to uncertainties relating to the occurrence or amount of these adjustments that may arise in the future. Based on past reported results, any such excluded items could be material, individually or in the aggregate, to the reported results.

A p p e n d i x

20 December 31, September 30, December 31, December 31, December 31, ($ in thousands, except for share data) 2023 2023 2022 2023 2022 Adjusted net income avai lable to common shareholders (Non-GAAP): Net income, as reported (GAAP) $71,554 $141,346 $177,591 $498,511 $568,851 Add: FDIC Special assessment (net of tax)(a) 36,053 — — 36,053 — Add: (Gains) losses on available for sale and held to maturity securities transactions (net of tax) (b) (629) 318 5 (288) (69) Add: Restructuring charge (net of tax) (c) (386) (484) — 7,145 Add: Provision for credit losses for available for sale securities (d) — — — 5,000 Add: Non-PCD provision for credit losses (net of tax) (e) — — — — 29,282 Add: Merger related expenses (net of tax) (f) 7,168 — 5,285 10,130 52,388 Add: Net gains on sales of office buildings (net of tax) (g) — (4,817) — (4,817) — Add: Litigation reserves (net of tax) (h) 2,537 — — 2,537 — Net income, as adjusted (Non-GAAP) $116,297 $136,363 $182,881 $554,271 $650,452 Dividends on preferred stock 4,104 4,127 3,630 16,135 13,146 Net income available to common shareholders, as adjusted (Non-GAAP) $112,193 $132,236 $179,251 $538,136 $637,306 (a) Included in FDIC insurance assessment. (b) Included in gains (losses) on securities transactions, net. (c) Represents severance (credit adjustments) expense related to workforce reductions within salary and employee benefits expense. (d) Included in provision for credit losses for available for sale and held to maturity securities (tax disallowed) (e) Represents provision for credit losses for non-PCD assets and unfunded credit commitments acquired during the period. (g) Included in net gains (losses) on sales of assets within non-interest income. (h) Represents legal reserves and settlement charges included in professional and legal fees. Adjusted per common share data (Non-GAAP): Net income available to common shareholders, as adjusted (Non-GAAP) $112,193 $132,236 $179,251 $538,136 $637,306 Average number of shares outstanding 507,683,229 507,650,668 506,359,704 507,532,365 485,434,918 Basic earnings, as adjusted (Non-GAAP) $0.22 $0.26 $0.35 $1.06 $1.31 Average number of diluted shares outstanding 509,714,526 509,256,599 509,301,813 509,245,768 487,817,710 Diluted earnings, as adjusted (Non-GAAP) $0.22 $0.26 $0.35 $1.06 $1.31 Adjusted annual ized return on average tangible shareholders' equi ty (Non-GAAP): Net income, as adjusted (Non-GAAP) $116,297 $136,363 $182,881 $554,271 $650,452 Average shareholders' equity 6,639,935 6,605,786 6,327,970 6,558,775 5,985,236 Less: Average goodwill and other intangible assets 2,033,656 2,042,486 2,074,367 2,047,172 1,944,503 Average tangible shareholders' equity 4,606,279 4,563,300 4,253,603 4,511,603 4,040,733 Annualized return on average tangible shareholders' equity, as adjusted (Non-GAAP) 10.10% 11.95% 17.20% 12.29% 16.10% Adjusted annual ized return on average assets (Non-GAAP): Net income, as adjusted (Non-GAAP) $116,297 $136,363 $182,881 $554,271 $650,452 Average assets $61,113,553 $61,391,688 $56,913,215 $61,065,897 $52,182,310 Annualized return on average assets, as adjusted (Non-GAAP) 0.76% 0.89% 1.29% 0.91% 1.25% Adjusted annual ized return on average shareholders' equi ty (Non-GAAP): Net income, as adjusted (Non-GAAP) $116,297 $136,363 $182,881 $554,271 $650,452 Average shareholders' equity 6,639,906 6,605,786 6,327,970 6,558,768 5,985,236 Annualized return on average shareholders' equity, as adjusted (Non-GAAP) 7.01% 8.26% 11.56% 8.45% 10.87% Three Months Ended Years Ended (f) Represents data processing termination costs within technology, furniture and equipment expense and severance within salary and employee benefits expense for the 2023 periods. The merger related expense for the 2022 periods were mainly salary and employee benefits expense. Non-GAAP Reconciliations to GAAP Financial Measures

21 December 31, September 30, December 31, December 31, December 31, ($ in thousands) 2023 2023 2022 2023 2022 Annual ized return on average tangible shareholders' equi ty (Non-GAAP): Net income, as reported (GAAP) $71,554 $141,346 $177,591 $498,511 $568,851 Average shareholders' equity 6,639,906 6,605,786 6,327,970 6,558,768 5,985,236 Less: Average goodwill and other intangible assets 2,033,656 2,042,486 2,074,367 2,047,172 1,944,503 Average tangible shareholders' equity 4,606,250 4,563,300 4,253,603 4,511,596 4,040,733 Annualized return on average tangible shareholders' equity (Non-GAAP): 6.21% 12.39% 16.70% 11.05% 14.08% Effic iency rat io (Non-GAAP): Non-interest expense, as reported (GAAP) $340,421 $267,133 $266,240 $1,162,691 $1,024,949 Less: FDIC Special assessment (pre-tax) 50,297 — — 50,297 — Less: Restructuring charge (pre-tax) (538) (675) — 9,969 — Less: Merger-related expenses (pre-tax) 10,000 — 7,372 14,133 71,203 Less: Amortization of tax credit investments (pre-tax) 4,547 4,191 3,213 18,009 12,407 Less: Litigation reserve (pre-tax) 3,540 — — 3,540 — Non-interest expense, as adjusted (Non-GAAP) $272,575 $263,617 $255,655 $1,066,743 $941,339 Net interest income, as reported (GAAP) 397,275 412,418 465,819 1,665,478 1,655,640 Non-interest income, as reported (GAAP) 52,691 58,664 52,796 225,729 206,793 Less: (Gains) losses on available for sale and held to maturity securities transactions, net (pre-tax) (877) 443 7 (401) (95) Less: Net gains on sales of office buildings (pre-tax) — (6,721) — (6,721) — Non-interest income, as adjusted (Non-GAAP) $51,814 $52,386 $52,803 218,607 $206,698 Gross operating income, as adjusted (Non-GAAP) 449,089 464,804 518,622 1,884,085 1,862,338 Efficiency ratio (Non-GAAP) 60.70% 56.72% 49.30% 56.62% 50.55% Annual ized pre-provision net revenue / average assets Net interest income, as reported (GAAP) $397,275 $412,418 $465,819 $1,665,478 $1,655,640 Non-interest income, as reported (GAAP) 52,691 58,664 52,796 225,729 206,793 Less: Non-interest expense, as reported (GAAP) 340,421 267,133 266,240 1,162,691 1,024,949 Pre-provision net revenue (GAAP) $109,545 $203,949 $252,375 $728,516 $837,484 Average assets $61,113,553 $61,391,688 $56,913,215 $61,065,897 $52,182,310 Annualized pre-provision net revenue / average assets (GAAP) 0.72% 1.33% 1.77% 1.19% 1.60% Annual ized pre-provision net revenue / average assets, as adjusted Pre-provision net revenue (GAAP) $109,545 $203,949 $252,375 $728,516 $837,484 Add: FDIC Special assessment (pre-tax) 50,297 — — 50,297 — Add: Restructuring charge (pre-tax) (538) (675) — 9,969 — Add: Merger-related expenses (pre-tax) 10,000 — 7,372 14,133 71,203 Add: Amortization of tax credit investments (pre-tax) 4,547 4,191 3,213 18,009 12,407 Add: Litigation reserve (pre-tax) 3,540 — — 3,540 — Less: (Gains) losses on available for sale and held to maturity securities transactions, net (pre-tax) (877) 443 7 (401) (95) Less: Net gains on sales of office buildings (pre-tax) — (6,721) — (6,721) — Pre-provision net revenue, as adjusted (Non-GAAP) 176,514 201,187 262,967 817,342 920,999 Average assets $61,113,553 $61,391,688 $56,913,215 $61,065,897 $52,182,310 Annualized pre-provision net revenue / average assets, as adjusted (Non-GAAP) 1.16% 1.31% 1.85% 1.34% 1.76% Years EndedThree Months Ended Non-GAAP Reconciliations to GAAP Financial Measures

22 December 31, September 30, June 30, March 31, December 31, December 31, ($ in thousands, except for share data) 2023 2023 2023 2023 2022 2021 Tangible book value per common share (Non-GAAP): Common shares outstanding 507,709,927 507,660,742 507,619,430 507,762,358 506,374,478 421,437,068 Shareholders' equity $6,701,391 $6,627,299 $6,575,184 $6,511,581 $6,400,802 $5,084,088 Less: Preferred Stock 209,691 209,691 209,691 209,691 209,691 209,691 Less: Goodwill and other intangible assets 2,029,267 2,038,202 2,046,882 2,056,107 2,066,392 1,529,394 Tangible common shareholders' equity (Non-GAAP) $4,462,433 $4,379,406 $4,318,611 $4,245,783 $4,124,719 $3,344,981 Tangible book value per common share (Non-GAAP): $8.79 $8.63 $8.51 $8.36 $8.15 $7.94 Book valuye per common share (GAAP) $12.79 $12.64 $12.54 $12.41 $12.23 $11.57 Tangible common equi ty to tangible assets (Non-GAAP): Tangible common shareholders' equity (Non-GAAP) $4,462,433 $4,379,406 $4,318,611 $4,245,783 $4,124,719 $3,344,981 Total assets 60,934,872 61,183,352 61,703,693 64,309,573 57,462,749 43,421,849 Less: Goodwill and other intangible assets 2,029,267 2,038,202 2,046,882 2,056,107 2,066,392 1,529,394 Tangible assets (Non-GAAP) 58,905,605 59,145,150 59,656,811 62,253,466 55,396,357 41,892,455 Tangible common equity to tangible assets (Non-GAAP) 7.58% 7.40% 7.24% 6.82% 7.45% 7.98% As of Non-GAAP Reconciliations to GAAP Financial Measures December 31, December 31, December 31, ($ in thousands, except for share data) 2020 2019 2018 Tangible book value per common share (Non-GAAP): Common shares outstanding 403,858,998 403,278,390 331,431,217 Shareholders' equity $4,592,120 $4,384,188 $3,350,454 Less: Preferred Stock 209,691 209,691 209,691 Less: Goodwill and other intangible assets 1,452,891 1,460,397 1,161,655 Tangible common shareholders' equity (Non-GAAP) $2,929,538 $2,714,100 $1,979,108 Tangible book value per common share (Non-GAAP): $7.25 $6.73 $5.79 Book valuye per common share (GAAP) $10.85 $10.35 $9.48 Tangible common equi ty to tangible assets (Non-GAAP): Tangible common shareholders' equity (Non-GAAP) $2,929,538 $2,714,100 $1,979,108 Total assets 40,693,576 37,436,020 31,863,088 Less: Goodwill and other intangible assets 1,452,891 1,460,397 1,161,655 Tangible assets (Non-GAAP) $39,240,685 $35,975,623 $30,701,433 Tangible common equity to tangible assets (Non-GAAP) 7.47% 7.54% 6.45% As of

23 ▪ Log onto our website: www.valley.com ▪ Email requests to: [email protected] ▪ Call Travis Lan in Investor Relations, at: (973) 686-5007 ▪ Log onto our website above or www.sec.gov to obtain free copies of documents filed by Valley with the SEC For More Information