Fixed Income Investor Presentation March 2026 Issuer Free Writing Prospectus Filed
pursuant to Rule 433 Supplementing the Preliminary Prospectus, dated March 11, 2026 Registration No. 333-[•]
Disclaimer and Caution About Forward-Looking Statements 2 OFG Bancorp (the
"Company" or "OFG") has filed a registration statement, including a prospectus (the “Preliminary Prospectus”), with the Securities and Exchange Commission (the “SEC”) for the offering to which this communication relates. Before you invest, you
should read the registration statement, the Preliminary Prospectus and other documents the Company has filed with the SEC for more complete information about the Company and this offering. You may get these documents for free by visiting EDGAR on
the SEC's website at www.sec.gov. Alternatively, the Company any underwriter or any dealer participating in the offerings will arrange to send you the prospectus and the related Preliminary Prospectus if you request it from Keefe, Bruyette &
Woods, A Stifel Company, by emailing [email protected] or Piper Sandler & Co. by emailing [email protected]. This presentation shall not constitute an offer to sell or a solicitation of an offer to buy securities or an invitation or
inducement to engage in investment activity nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification of such securities under the securities
law of any such jurisdiction. Forward Looking Statements The information included in this document contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are
based on management’s current expectations and involve certain risks and uncertainties that may cause actual results to differ materially from those expressed in the forward-looking statements. Factors that might cause such a difference include
but are not limited to the rate of growth in the economy and employment levels, inflationary pressures or recessionary conditions, as well as general business and economic conditions; changes in interest rates, as well as the magnitude of such
changes; a credit default by municipalities of the government of Puerto Rico; a credit default by the U.S. government or a downgrade in the credit ratings of the U.S. government; the impacts related to, or resulting from, bank failures and other
volatility, including potential increased regulatory and compliance requirements and costs and potential impacts to macroeconomic conditions, which could affect the ability of depository institutions, including the Bank, to attract and retain
depositors and to borrow or raise capital; the actual or perceived soundness of other financial institutions, including as a result of the financial or operational failure of a major financial institution, or concerns about the creditworthiness
of such a financial institution or its ability to fulfill its obligations, which can cause substantial and cascading disruption within the financial markets; amendments to the fiscal plans approved by the Financial Oversight and Management Board
for Puerto Rico; determinations in the court-supervised debt-restructuring process for the Puerto Rico Electric Power Authority (“PREPA”) under Title III of PROMESA, as well as the ability to successfully implement any court-approved plan of
adjustment for PREPA or any other Puerto Rico government instrumentality or public corporation; unforeseen or catastrophic events, including extreme weather events, other natural disasters, man-made disasters, pandemics, war or other
international conflicts and acts of terrorism (including cyber-attacks), or utility disruptions, any of which could significantly affect delinquency rates, loan and accounts receivable balances and other aspects of our business and results of
operations; the impact of property, credit and other losses in Puerto Rico as a result of hurricanes, earthquakes and other natural disasters; the amount of government financial assistance for the reconstruction of Puerto Rico’s infrastructure,
which was impacted by the effects of Hurricane Maria in 2017, earthquakes in 2020, and Hurricane Fiona in 2022; the pace and magnitude of Puerto Rico’s economic recovery; the fiscal and monetary policies of the federal government and its
agencies; the potential impact of a federal government shutdown, including delays in federal spending, disruptions to economic activity, and uncertainty in financial markets; the impact of changes in trade policies of the federal government,
including the changes in imported good tariffs, as well as the impact of federal spending cuts on federal emergency and stimulus funds, and their effect on the economy; the impact of changes in federal economic policies, including the spending
and tax cuts arising under the recently enacted One Big Beautiful Bill Act, as well as their effect on the U.S. and Puerto Rico economies; changes in federal bank regulatory and supervisory policies, including with respect to required levels of
capital; the relative strength or weakness of the commercial and consumer credit sectors and the real estate market in Puerto Rico; the performance of the stock and bond markets; our ability to successfully invest in, deploy, and maintain
advanced technologies, including artificial intelligence and digital banking platforms; competition in the financial services industry; and possible additional legislative, tax or regulatory changes. Other possible events or factors that could
cause results or performance to differ materially from those expressed in these forward-looking statements include the following: negative economic conditions that adversely affect the general economy, housing prices, the job market, consumer
confidence and spending habits which may affect, among other things, the level of non-performing assets, charge-offs and provision for credit losses expense; changes in interest rates and market liquidity which may reduce interest margins, impact
funding sources and affect the ability to originate and distribute financial products or services in the primary and secondary markets; adverse movements and volatility in debt and equity capital markets; changes in market rates and prices which
may adversely impact the value of financial assets and liabilities; risk of impairment of investment securities, goodwill, other intangible assets or deferred tax assets; liabilities resulting from litigation and regulatory investigations;
changes in accounting standards, rules and interpretations; increased competition; OFG’s ability to grow its core businesses; decisions to downsize, sell or close units or otherwise change OFG’s business mix; and management’s ability to identify
and manage these and other risks. For a discussion of such factors and certain risks and uncertainties to which OFG is subject, please refer to OFG’s annual report on Form 10-K for the year ended December 31, 2025, as well as its other filings
with the SEC. Other than to the extent required by applicable law, including the requirements of applicable securities laws, OFG assumes no obligation to update any forward-looking statements to reflect occurrences or unanticipated events or
circumstances after the date of such statements.
Non-GAAP Financial Measures and Market and Industry Data 3 Non-GAAP Financial
Measures In addition to our financial information presented in accordance with GAAP, management uses certain non-GAAP financial measures within the meaning of the SEC Regulation G, including Tangible Common Equity (TCE), Tangible Common Equity /
Tangible Assets, Return on Average Tangible Common Stockholders’ Equity (ROATCE), Pre Provision Net Revenues (PPNR), PPNR Return on Average Assets (PPNR ROAA), Core Revenues, Core Deposits, Core Deposit Cost, Efficiency Ratio, Non-interest
Income, net (Core), to clarify and enhance understanding of past performance and prospects for the future. These non-GAAP financial measures should be considered supplemental to, not a substitute for, or superior to, the financial measure
calculated in accordance with GAAP. There are a number of limitations related to the use of these non-GAAP financial measures and their nearest GAAP equivalents. For example, the Company’s definitions of non-GAAP financial measures may differ
from non-GAAP financial measures used by other companies. For a description of the non-GAAP financial information included herein, see the slide entitled “Non-GAAP Measures Definitions.” For reconciliations to the most directly comparable GAAP
measure, see the appendix to this presentation. Market and Industry Data This presentation includes market and industry data and forecasts that the Company has derived from independent consultant reports, publicly available information, various
industry publications, other published industry sources, and its internal data and estimates. Independent consultant reports, industry publications and other published industry sources generally indicate that the information contained therein was
obtained from sources believed to be reliable. Although the Company believes that these third-party sources are reliable, it does not guarantee the accuracy or completeness of this information, and the Company has not independently verified this
information. The Company's internal data and estimates are based upon information obtained from trade and business organizations and other contacts in the markets in which the Company operates and management's understanding of industry
conditions. Although the Company believes that such information is reliable, it has not had this information verified by any independent sources. In addition, the information contained in this presentation is as of the date hereof (except where
otherwise indicated), and the Company has no obligation to update such information, including in the event that such information becomes inaccurate or if estimates change. Subsequent materials may be provided by or on behalf of the Company in its
discretion and such information may supplement, modify or supersede the information in these materials. Neither the Company, nor any of its respective affiliates, advisors or representatives shall have any liability whatsoever (in negligence or
otherwise) for any loss or damage howsoever arising from any use of these materials or their contents or otherwise arising in connection with these materials.
Mortgage 17% Commercial 43% Consumer 8% Auto 32% Demand 57% Savings 22% Time
18% Brokered CD 3% Overview of OFG Financial Founded in 1964, serving retail and commercial customers throughout Puerto Rico and the U.S. Virgin Islands 3rd largest bank in Puerto Rico by deposits1 Proven leadership team with 30+ years of
banking experience, deep market knowledge and track record of navigating local economic cycles Differentiated omnichannel digital platform enables enhanced customer experience and process efficiencies; Puerto Rico’s digital-first challenger
bank 4 Note: OFG financial data as of or for the year ended December 31, 2025, except as noted. Deposit market share data per S&P Capital IQ Pro as of 6/30/2025. Represents gross loans held-for-investment. Represents a Non-GAAP financial
measure. See Non-GAAP Financial Measures included in Appendix for a reconciliation to this measure’s most directly comparable GAAP financial measure. Scale $5.1B $5.6B Wealth Mtg. Servicing Management Portfolio $10.3B Total Deposits $12.5B
$8.2B Total Gross Assets Loans2 Capital $1.3B 10.5% 10.7% 14.0% 15.2% Tangible TCE / Leverage CET1 TRBC Common Equity3 TA3 Ratio Ratio Ratio Profitability $205M 1.70% 16.5% 5.27% 53% Net Return on Return on Net Interest Efficiency Income
Avg. Assets Avg. TCE3 Margin Ratio OFG’s Puerto Rico & U.S. Virgin Islands Footprint Puerto Rico Ponce Bayamón Mayagüez Caguas San Juan Carolina St. John St. Croix St. Thomas OFG Financial 44 Branches 19 Self-Serve
Kiosks 295 ATMs 40 ITMs #3 PR Mkt. Share1 Gross Loans2 $8.2B Total Deposits $10.3B
Mari Evelyn Rodríguez Mimoso Chief Retail Banking Officer Ms. Rodríguez leads
business development for small business, residential mortgage and auto loan portfolios while holding additional oversight of Oriental Insurance, Oriental Financial Services and trust operations. She is recognized for expanding financial service
technology platforms across all three major public banks in Puerto Rico. She earned a B.A. from Harvard University and an MBA from the University of Michigan. Experienced Executive Management Team José R. Fernández Chief Executive Officer
& Chairman Mr. Fernández has served as CEO since 2004 and was appointed Chairman of the Board in 2024, distinguishing him as the longest-serving CEO among Puerto Rico’s publicly traded banks. Under his leadership, the institution grew from
the 9th largest in the market to a top-three leader across retail, commercial and wealth management segments. He holds a B.S. from the University of Notre Dame and an MBA from the University of Michigan. Patrick J. Haggarty Managing Director,
Commercial Banking Mr. Haggarty oversees commercial services for corporate and institutional clients. He has over 35 years of banking experience in Puerto Rico, with a focus on commercial banking over the last two decades. He joined Oriental in
2012 after it acquired BBVA’s Puerto Rico operations where he led the wholesale banking business from 2003 to 2012. He holds an MBA from IESE Business School and a B.A. from Tufts University. Ada García Castello Managing Director, Customer
Intelligence and Operations Maritza Arizmendi Díaz Chief Financial Officer Appointed to his role in 2021, Mr. González advises Oriental’s leadership on strategic initiatives including M&A, corporate finance, securities and corporate
governance. He was a key figure in the successful execution and integration of the acquisitions of Scotiabank’s Puerto Rico and U.S. Virgin Islands operations in 2019 and BBVA’s Puerto Rico operations in 2012. He holds a bachelor’s from Columbia
University and a J.D. from the NYU School of Law. Hugh González General Counsel and Secretary César A. Ortiz-Marcano Chief Risk Officer Mr. Ortiz is responsible for an enterprise-wide risk management strategy that aligns business growth with
regulatory requirements, drawing on his previous experience as Managing Director of Retail Business Development. In his prior role, he managed the growth of the bank's consumer, mortgage and auto loan portfolios, ensuring a granular understanding
of credit risk. He is a Certified Public Accountant and holds an MBA from MIT Sloan. Named CFO in 2017 after serving as SVP of Corporate Finance and Chief Accounting Officer, Ms. Arizmendi oversees corporate finance, treasury, ALM, information
technology and capital planning. Prior to Oriental, Ms. Arizmendi served as Chief Financial Officer and Treasurer of BBVA’s PR Operations. She is a Certified Public Accountant and attorney with a B.S. and J.D. from the University of Puerto
Rico. 5 Named to her position in 2022, Ms. García manages all retail and business banking operations with a specific mandate over data integrity and analytics. She has held leadership roles at the bank since 2012, previously serving as Director
of Business Development and Director of the residential mortgage business. She holds both a bachelor’s and master’s degree in mathematics and computer science from the Technical University of Dresden.
Corporate
History $12.5B 1964 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2004: José Rafael Fernández named
president; leads the transformation to a bank offering the full range of commercial and retail banking services 2010: Acquired selected loans, deposits and businesses of Puerto Rico-based Eurobank 2012: Acquired Puerto Rico operations of
Banco Bilbao Vizcaya Argentaria, S.A. (BBVA) 2014: Oriental Bank becomes a pioneer in online and mobile banking in Puerto Rico with the launch of FOTOdeposit and People Pay 2019: Acquired Puerto Rico and U.S. Virgin Islands operations of The
Bank of Nova Scotia (Scotiabank) 2023: Oriental Servicing Portal launched, enabling access to a growing number retail products and services from one online and mobile friendly site 2013: Corporate name changed to OFG Bancorp 1987: Initial
public offering of common stock on NASDAQ 1990: First local bank to have a trust division through acquisition of a subsidiary of Drexel Burnham Lambert Puerto Rico 1993: broker First bank in Puerto Rico to establish a -dealer (Oriental
Financial Services) 1995: Insurance subsidiary established Total Assets ($B) 1964: Oriental Federal Savings and Loan Association founded in Humacao, Puerto Rico 6
The OFG Investment Thesis Favorable economic outlook for Puerto Rico: historically
low unemployment, strong business and retail activity, and long-term capital investment from the Federal government and private sector •1 Leading Puerto Rico franchise with scaled presence and strong local brand •2 Consistent organic growth,
supplemented by disciplined, opportunistic acquisitions •3 History of strong asset quality and robust capital levels •4 Peer-leading profitability with significant capital generation capacity •5 Differentiated digital approach enabling
enhanced customer experience •6 Diversified revenue base with insurance, wealth and mortgage servicing fee income streams •7 Strong risk management practices; granular loan portfolio with focus on concentration •8 Experienced management team
with banking experience through all market cycles •9 7
History of Steady Growth 8 Source: OFG company documents and S&P Capital IQ
Pro; Financial data for the end of each period presented per public filings. Total Assets ($B) 2021Y 2022Y Total Deposits ($B) Gross Loans ($B) 2021Y 2022Y 2023Y Tangible Common Equity1
($B) $9.9 $9.8 $11.3 $11.5 $12.5 2023Y 2024Y 2025Y $6.4 $6.8 $7.5 $7.8 $8.2 2024Y 2025Y $8.6 $8.6 $9.8 $9.6 $10.3 2021Y 2022Y 2023Y 2024Y 2025Y $0.9 (1) Represents a Non-GAAP financial measure. See Non-GAAP Financial
Measures included in Appendix for a reconciliation to this measure’s most directly comparable GAAP financial measure. $0.9 $1.1 $1.2 $1.3 2021Y 2022Y 2023Y 2024Y 2025Y
2.08% 2.65% 3.20% 2.97% 2.83% 1.75% 1.54% 1.42% 1.67% 1.63% 1.77% 2.13% 1.85% 1.91% 2021Y
2022Y Annual ROAE 2023Y 2024Y 2025Y Consistent Top-Tier Profitability Versus Peers 16.0% 16.4% 15.8% 15.3% 11.1% 9.3% 9.9% 9.7% 14.4% 13.5% 13.1% 18.5% 15.0% 13.9% 15.2% PR Peers 2021Y 2022Y 2023Y 2024Y 2025Y 2021Y 2022Y
2023Y Source: OFG company documents and S&P Capital IQ Pro; Financial data for the end of each period presented per public filings Note: Puerto Rico Peers include BPOP and FBP; Mainland Peers include AMTB, ABCB, BANF, CUBI, EGBN, FCF, FFIN,
RNST, STBA, SFBS, TOWN, TRMK, UCB and WSBC 9 1.64% 1.79% 1.75% 1.70% 1.18% 1.00% 1.16% 1.19% 1.47% 1.42% 1.35% 1.54% 1.19% 1.21% 1.46% 2021Y 2022Y Annual ROATCE1 2023Y 2024Y 2025Y OFG Peers PR
Peers 2.16% Mainland Annual Pre-Provision Net Revenue (PPNR) ROAA1 Annual ROAA 18.0% (1) Represents a Non-GAAP financial measure. See Non-GAAP Financial Measures included in Appendix for a reconciliation to this measure’s most directly
comparable GAAP financial measure. 18.1% 17.2% 16.5% 16.0% 13.1% 13.6% 12.6% 16.2% 15.7% 15.7% 20.3% 16.1% 14.8% 2024Y 2025Y OFG Mainland Peers OFG Mainland Peers PR Peers OFG Peers 16.1%PR Peers Mainland
925K 850K 775K 700K 1,000K 2017 2018 2019 2020 2021
2022 2023 2024 2025 Recent Puerto Rico Manufacturing Expansion
Announcements Investment $1.2B $650M $46M $64M $45M $17M $6M $6M $6M $31M $1.5M $8M Jobs 1,000 750 100 250 180 46 168 10 36 90 200 400 Industry Pharma Solar Medical
Devices/Products Electrical/Technology Military Puerto Rico Economic Trends and Outlook Source: US Bureau of Labor Statistics; Government of Puerto Rico Central Office for Recovery, Reconstruction and Resiliency (COR3); Puerto Rico Economic
Development Bank; Puerto Rico Fiscal Agency & Financial Advisory Authority; Puerto Rico Department of Economic Development and Commerce; Department of Economic Development and Commerce press releases. Total Non-Farm Employment (K) December
2025 = 969K 120.0 110.0 100.0 90.0 130.0 2017 2018 2019 2020 2021 2022 2023 2024 2025 Economic Activity Index (January 1980=100) November 2025 = 128.1 Maria Covid Maria Covid 10 Economic Trends Puerto Rico’s economy remains
stable and resilient, with historically low unemployment, strong liquidity levels and rising wages Solidified status as the #2 U.S. Pharma/Medical exporter, representing ~18% of total U.S. export capacity 5th consecutive record year for
tourism in 2025 with 6.8M air arrivals Reshoring and Expansion Potential ~$2B+ of new investments committed to reshoring are expected to create ~4,000 new jobs across several key growth industries (e.g. Pharma, Medical Devices, Solar and
Technology) Washington is showing renewed interest in leveraging Puerto Rico’s strategic geography for Federal / Military uses Deep distribution, strong risk-management and commercial discipline position OFG well for success in PR’s current
macro landscape Outlook $40.8B of Federal recovery and reconstruction funds dispersed through February 2026 with an additional $50.8B expected to be paid through 2035 are producing powerful economic tailwinds Tax incentives, public-private
partnerships, and Puerto Rico’s emergence as a strategic reshoring hub beginning to show results
Digital First: Leader in Puerto Rico Banking Innovation 12.9% 24.5% 2023
2025 Digital Service Usage 142K 169K 46.7% 63.3% 2023 2025 60.8% 71.4% 2023 2025 2023 2025 Self Service Payments Key Digital Performance Metrics 90-Day Active Users Digital Account Open +19.6% +90.2% +17.4% +35.5% For more
than a decade, Oriental has pioneered digital banking in Puerto Rico, enabling a differentiated customer experience, personalized insights with advanced analytics, and highly efficient back-office processes Omnichannel platform provides
customers a seamless banking experience, transforming branches into relationship-building hubs Digital product suite tailored to specific markets: Libre (mass market), Elite (mass affluent), Oriental Biz (small business) Intelligent Banking
provides real-time, value-added insights that help customers better manage their finances Retail Digital/Self-Service Channel Use 96% of all routine transactions 98% of all deposit transactions 71% of all loan payments 11 Key Growth Drivers
(4Q25 vs. 4Q24) +9% digital enrollment +5% digital loan payments +10% virtual teller use +4.3% net customer growth
Oriental Bank awarded the 2024 Silver Lender of the Year for the Puerto Rico and US
Virgin Islands region for the second year OFG Recognition Ranked in the Top 10 on the 2024 S&P Global list of top U.S. banks by financial performance with more than $10B in assets Ranked in the Top 10 on the 2025 American Banker Top
Performing Banks in the U.S. with $10B-$50B in assets CEO José Rafael Fernández named American Banker’s Community Banker of the Year in 2023 12
Financial Performance
Operational Highlights Loans ($B, Avg. Balance) Core Deposits1 ($B, Avg.
Balance) New Loan Origination ($M) 1Q25 2Q25 3Q25 4Q25 Loan Yield 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 Core Deposit Cost1 Includes Non-Interest-Bearing Deposits, Before Fair Value Amortization from Scotiabank Deposits 3Q24 4Q24 1Q25 2Q25 3Q25
4Q25 Net Interest
Margin $7.63 $7.72 $7.78 $7.96 $8.10 $8.12 3Q24 4Q24 $9.59 $9.56 $9.62 $9.74 $9.87 $9.93 $572 $609 $559 $784 $624 $606 8.05% 8.01% 7.99% 7.91% 7.90% 7.73% 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1.53% 1.46% 1.42%
1.42% 1.47% 1.42% 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 5.43% Source: OFG company documents and S&P Capital IQ Pro; Financial data for the end of each period presented per public filings (1) Represents a Non-GAAP financial measure. See
Non-GAAP Financial Measures included in Appendix for a reconciliation to this measure’s most directly comparable GAAP financial measure. 14 5.40% 5.42% 5.31% 5.24% 5.12% 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25
Financial Highlights Net Income ($M) Pre Provision Net Revenues1 ($M) Total Core
Revenues1 ($M) 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 ROAA & PPNR ROAA1 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 ROATCE1 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 Efficiency
Ratio $47.0 $50.3 $45.6 $51.8 $51.8 $55.9 $83.1 $83.0 $85.1 $87.6 $89.6 $79.3 $174 $182 $178 $182 $184 $185 1.66% 1.75% 1.56% 1.73% 1.69% 1.81% 2.93% 2.88% 2.92% 2.93%
2.93% 2.56% 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 15.9% 16.7% 15.3% 17.0% 16.4% 17.2% 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 52.6% 54.8% 52.4% 52.0% 52.5% 56.7% 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 4Q25 includes $16.8M tax benefit from
discrete items Source: OFG company documents and S&P Capital IQ Pro; Financial data for the end of each period presented per public filings (1) Represents a Non-GAAP financial measure. See Non-GAAP Financial Measures included in Appendix
for a reconciliation to this measure’s most directly comparable GAAP financial measure. 15 PPNR ROAA ROAA
Historical Capital Levels Tangible Common Equity / Tangible Assets1 2021Y 2022Y
2023Y Common Equity Tier 1 Ratio Tier 1 Leverage Ratio 2021Y 2022Y 2023Y Total Risk Based Capital
Ratio 9.7% 9.6% 9.7% 10.1% 10.5% 2024Y 2025Y 9.7% 10.4% 11.0% 10.9% 10.7% 2024Y 2025Y 13.8% 13.6% 14.1% 14.3% 14.0% 2021Y 2022Y 2023Y 2024Y 2025Y 15.5% Source: OFG company documents and S&P Capital IQ Pro; Financial
data for the end of each period presented per public filings (1) Represents a Non-GAAP financial measure. See Non-GAAP Financial Measures included in Appendix for a reconciliation to this measure’s most directly comparable GAAP financial
measure. 16 14.9% 15.4% 15.5% 15.2% 2021Y 2022Y 2023Y 2024Y 2025Y
Lending & Asset Quality
$740M $156M $957M $150M $304M $836M $433M $835M $180M $289M Commercial
PR Commercial US Auto Mortage Consumer 1.6% NPLs / Total Loans 1.0% NCOs / Avg
Loans 30.2% 29.1% 30.8% 30.8% 32.4% 6.9% 9.4% 10.0% 9.0% 10.1% 26.7% 28.7% 30.2% 32.7% 32.2% 29.8% 24.9% 20.7% 18.9% 17.0% 6.4% 7.9% 8.2% 8.6% 8.3% $6,403 $6,835 $7,534 $7,792 $8,201 6.76% 7.09% 8.00% 8.22% 7.82% 2021Y Commercial
PR 2022Y 2023Y Commercial US 2024Y Mortgage 2025Y Consumer Historical Loan Composition (HFI) Diversified Loan Portfolio Source: S&P Capital IQ Pro; Financial data per public filings or most recent earnings release for the end of each
period presented Note: Unless otherwise noted, all data presented on this page are as of FY 2025 (1) Includes unfunded commitments. 18 Loan Yield Auto Loan Production (2024 vs. 2025) Total new loan production of $2.6bn in 2025, up 11.5%
YoY $176M NDFI Exposure $8.2B Gross Loans HFI 14% Top 20 Loans / Total Loans1 Loan Portfolio Summary 7.82% Loan Yield 5.3% Total Portfolio Growth Y/Y 2.5% Reserves / Loans HFI ‘24 ‘25 ‘24 ‘25 ‘24 ‘25 ‘24 ‘25 ‘24 ‘25
Shopping Centers 25% Hotel 25% Office Space 18% Fast Foods 3% Assisted Living
3% Courthouses 4% Warehouse Buildings 5% Retail Space 13% Marinas 2% All Others 2% Warehouse Buildings 35% Hospitals 21% Educational Facilities 13% Medical Office 6% Light Industrial 3% Office Space 4% Retail Space 5% All Others
13% Commercial Loans 19 Commercial Loan Portfolio $3.5B Commercial Loan Portfolio Commercial U.S. $830 Million 24% of Commercial 10% of Total Loans PR - CRE $1,306 Million 37% of Commercial 16% of Total Loans PR - C&I $1,354
Million 39% of Commercial 17% of Total Loans 7.35% Commercial Loan Yield (FY2025) 73% Variable Rate $2.2B C&I Loans $285K Avg. Loan Size Commercial & Industrial Portfolio (PR & US) 59.6% NOO CRE / TRBC 3 $1.3B CRE
Loans $991K Avg. Loan Size Commercial Real Estate 18% 12% 12% 10% 8% 7% 6% 5% 4% 18% $1.4B PR - C&I Construction Finance and Insurance Retail Trade Wholesale Trade Manufacturing RE / Rental / Leasing Transport /
Warehouse Food Services Health & Social Asst. All Other 26% 15% 15% 14% 9% 5% 4% 12% $0.8B U.S. - C&I Finance and Insurance Utilities Manufacturing Health & Social Asst. Trade Prof., Scientific & Technical
Services Construction Wholesale All Other Top C&I Industry Concentrations1 OO CRE by Property Type2 NOO CRE by Property Type3 Source: S&P Capital IQ Pro; Financial data per public filings or most recent earnings release for the end
of each period presented Includes unfunded commitments. Owner occupied commercial real estate. Non-owner occupied commercial real estate per regulatory definition.
Auto Loan Portfolio1 Mortgage Loan Portfolio Auto, Mortgage and Consumer Loan
Portfolios Source: OFG company documents and S&P Capital IQ Pro; Financial data for the end of each period presented per public filings (1) FICO scores reflect updated FICO scores as of December 31, 2025 $2.6B Auto Portfolio No FICO:
1% 700+ FICO: 56% 661-699 FICO: 15% 1-660 FICO: 28% Consumer Loan Portfolio $1.4B Mortgage Portfolio Quarterly Auto Originations Quarterly Mortgage Originations Quarterly Consumer Originations ~11.6% Consumer Loan Yield
(FY2025) $0.7B Consumer Portfolio Personal Loans: 93% Credit Lines: 2% Credit Cards & Other: 5% 0.15% Net Recovery (FY2025) ~6.0% Mortgage Loan Yield (FY2025) 20 32% of Total Loans 17% of Total Loans 8% of Total Loans ~8.6% Auto
Loan Yield (FY2025) 71% Prime FICO or Greater 1.5% NCOs / Avg. Loans (FY2025) $17.6M Total Non-Performing Loans $4.4M Total Non-Performing Loans 4.1% NCOs / Avg. Loans (FY2025)
Historical Asset Quality Trends Non-Performing Loans / Total Loans 2021Y
2022Y Net Charge Offs / Average Loans 1.75% 1.46% 1.13% 1.06% 1.59% 2023Y 2024Y 2025Y 0.76% 0.42% 0.73% 0.89% 1.00% 2021Y 2022Y 2023Y 2024Y 2025Y Asset quality and credit metrics are sound and well-controlled Increase in 2025
non-performing loans is primarily the result of a proactive migration of a single credit: – In December 2025, OFG migrated a $45 million Puerto Rico telecommunications loan to non-accrual, through this loan was not past due as of December 31,
2025 Non-performing and non-accrual loans remain isolated and idiosyncratic; single telecommunications loan described above represents 35% of all NPLs; top 5 non-accruals represent 58% of all NPLs Increase in charge-offs through 2025 is
partially driven by sales of non-accrual loans Typical seasonal pattern of higher delinquency and nonperforming levels in retail portfolios at year end 21
Reserves $156 $153 $161 $176 $202 2.44% 2.23% 2.14% 2.26% 2.47% 2021Y
2022Y Reserves / Non-Performing Assets (%) 2023Y 2024Y 2025Y ACL / Gross Loans HFI Allowance for Credit Losses ($M) 120.9% 22 132.0% 161.1% 187.9% 148.8% 2021Y 2022Y 2023Y 2024Y 2025Y
Deposits & Liquidity
0.1%
0.1% 1.7% 1.6% 56.7% 55.7% 57.4% 54.1% 52.9% 29.1% 30.7% 26.0% 26.0% 25.6% 2.3% 2.0% 3.9% 6.1% 6.3% 11.7% 11.4% 11.1% 12.2% 11.9% $8,603 $8,568 $9,762 $9,605 $10,263 2021Y 2022Y Brokered 2023Y 2024Y 2025Y 0.44% 0.88% 1.56% 1.53% 0.13%
0.27% 1.72% 2.29% 1.96% 0.21% 0.36% 0.33% 1.41% 1.80% 1.60% 2021Y 2022Y 2023Y 2024Y 2025Y 0.50% 1.17% 2.07% 2.01% 0.20% 0.41% 2.53% 3.21% 2.74% 0.31% 0.48% 0.45% 1.98% 2.49% 2.19% 2021Y 2022Y 2023Y 2024Y
2025Y Deposits Deposits Cost of Deposits Cost of Interest-Bearing Deposits Mainland Peers PR Peers OFG Mainland Peers PR Peers OFG IB Savings & Demand NIB Demand Institutional CDs Retail CDs 3.3% Source: S&P Capital IQ Pro;
Financial data per public filings for the end of each period presented 24
Liquidity Unrestricted Cash & Equivalents $1,040M Unencumbered
Securities $1,056M FHLB $351M Fed Discount Window $2,286M Liquidity Sources $4.7B available liquid funds and borrowing capacity 74% 80% 77% 81% 80% 2021Y 2022Y 2023Y 2024Y 2025Y Loans HFI / Total Deposits 26% (1) Reflects
cash, cash equivalents and available-for-sale securities at fair value as a percentage of total assets 25 20% 25% 25% 28% 2021Y 2022Y 2023Y 2024Y 2025Y Cash + AFS Securities / Assets1 $100M outstanding repurchase agreements $456M
outstanding FHLB advances
$225M FNMA & FHLMC $2,016M FNMA & FHLMC $491M GNMA $2.6M CMOS issued by
US GSEs $1.7M US Treasuries $0.5M Other Debt Securities Securities Portfolio $2.5B $0.2B AFS Securities ~90% of Portfolio Portfolio: $2,511M (fair value) Yield: 4.43% Unrealized Losses: $18M / 1% Average Life: 7.7 years HTM
Securities ~10% of Portfolio Portfolio: $225M Yield: 1.73% Unrealized Losses: $44M / 16% Average Life: 8.3 years MRQ Securities Portfolio Composition Amortized Unrealized Weighted Cost Gains/(Losses) Fair Value Average Yield
Available-for-Sale Securities FNMA and FHLMC $2,015.7 ($0.1) $2,015.6 4.59% GNMA 508.9 (18.3) 490.6 3.81% CMOs Issued by GSEs 2.6 (0.0) 2.6 2.64% Mortgage Backed Securities (AFS) US
Treasuries $2,527.2 1.7 ($18.4) 0.0 $2,508.7 1.7 4.43% 4.11% Other Debt Securities 0.5 0.0 0.5 2.35% Investment Securities (AFS) $2.2 $0.0 $2.2 3.70% Total Securities
Available-for-Sale $2,529.3 ($18.4) $2,510.9 4.43% Held-to-Maturity Securities FNMA and FHLMC 269.5 (44.4) 225.1 1.73% Total Securities Held-to-Maturity $269.5 ($44.4) $225.1 1.73% Investment Portfolio Summary Highly liquid
securities portfolio positioned primarily in mortgage-backed securities of government sponsored entities Note: Unless otherwise noted, all data presented on this page are as of FY 2025 26 $44.4M Gross Unrealized Loss on HTM
Securities 1.73% Weighted Average Yield of HTM Securities 8.3 Yr. Weighted Average Life of HTM Securities 4.43% $18.4M Weighted Average Yield Gross Unrealized Loss of AFS Securities on AFS Securities 7.7 Yr. Weighted Average Life of AFS
Securities
Appendix
Pro Forma OFG + Offering1 Fiscal Year Ended, 2021 2022 2023 2024 2025 ($ in
millions) 2025 Double Leverage Bank-Level Equity $1,011 $938 $1,095 $1,189 $1,332 $1,500 Consolidated Equity 1,069 1,042 1,193 1,254 1,390 1,390 Double Leverage Ratio 95% 90% 92% 95% 96% 108% Interest
Coverage Earnings: Income From Continuing Operations Before Taxes $214.6 $244.1 $265.2 $253.7 $234.1 $228.0 (+) Borrowings Interest 2.8 1.3 12.0 11.6 19.7 $19.7 (+) Coupon Payment Related to $200mm Sub Debt
Raise – – – – – $14.0 Earnings (Before Corporate Debt Interest) $217.4 $245.4 $277.3 $265.3 $253.8 $261.7 A (+) Interest on Deposits 39.0 32.2 76.0 150.3 152.7 $152.7 Earnings (Before Corporate Debt & Deposit
Interest) 256.4 277.6 353.3 415.6 406.6 414.4 B Interest Expense: Borrowings Interest 2.8 1.3 12.0 11.6 19.7 19.7 (+) Coupon Payment Related to $200mm Sub Debt Raise – – – – – 14.0 Interest Expense, Excluding Interest on
Deposits 2.8 1.3 12.0 11.6 19.7 33.7 C (+) Interest on Deposits 39.0 32.2 76.0 150.3 152.7 152.7 Interest Expense, Including Interest on Deposits 41.8 33.5 88.0 161.8 172.5 186.5 D Interest Coverage (Ex. Deposit Interest
Expense) - A / C Interest Coverage (Inc. Deposit Interest Expense) - B / D 77.2x 6.1x 195.7x 8.3x 23.0x 4.0x 23.0x 2.6x 12.9x 2.4x 7.8x 2.2x Double Leverage and Interest Coverage (1) Assumes a $200M subordinated debt raise at a
market coupon; Assumes 2 years of interest expense attributable to subordinated debt raise held at Holding Company; Remaining 86% down streamed to Bank 28
ACL by % of
Portfolio 12/31/23 3/31/24 6/30/24 9/30/24 12/31/24 3/31/25 6/30/25 9/30/25 12/31/25 Auto 3.23 % 3.26 % 3.33 % 3.26 % 3.44 % 3.51 % 3.48 % 3.39 % 3.51 % Commercial 1.47 % 1.26 % 1.12 % 1.19 % 1.46 % 1.52 % 1.61 % 1.87
% 1.90 % Residential Mortgages 0.98 % 0.94 % 0.84 % 0.83 % 0.74 % 0.70 % 0.66 % 0.78 % 0.72 % Consumer 4.37 % 4.37 % 4.57 % 4.71 % 4.76 % 4.81 % 4.82 % 4.92 % 4.90 % Total 2.14 % 2.08 % 2.06 % 2.08 % 2.26 % 2.31
% 2.32 % 2.44 % 2.47 % Reserves by Loan Category 29 ACL / Total Loans Held for Investment
Credit Quality Detail 30 *3Q24 reflects booking of the GNMA buy-back option
program related to the late August 2024 mortgage servicing portfolio acquisition NCO Rate NPL Rate Early Delinquency Rate Total Delinquency Rate*
Core Non-Interest Income ($M) Total 31 Banking Services Wealth
Management Mortgage Banking
Non-GAAP Measures Definitions 32 OFG reports certain financial measures that are
not in accordance with GAAP. These non-GAAP financial measures are provided as supplemental information to the financial measures in this report that are calculated and presented in accordance with GAAP. Non-GAAP financial measures have inherent
limitations, are not required to be uniformly applied, and are not audited. To mitigate these limitations, OFG has procedures in place to calculate these measures using the appropriate GAAP or regulatory components. Although these non-GAAP
financial measures are frequently used by stakeholders in the evaluation of a company, they have limitations as analytical tools and should not be considered in isolation or as a substitute for analyses of results as reported under
GAAP. Non-GAAP Measures Definitions: Tangible Common Equity: Total stockholders’ equity less intangible assets. Tangible Common Equity / Tangible Assets: Total stockholders’ equity less intangible assets divided by total assets less intangible
assets. Return on Average Tangible Common Equity (ROATCE): Calculated based on annualized income available to common shareholders for the period divided by average tangible common equity for the period. Pre-Provision Net Revenues (PPNR):
Pre-provision net revenues is a non-GAAP measure calculated based on net interest income plus total non-interest income, net, less total non-interest expenses for the period. PPNR Return on Average Assets (PPNR ROAA): Pre-provision net revenues
divided by average total assets. Efficiency Ratio: Calculated based on non-interest expense for the period divided by total net interest income and total banking and financial services revenues for the period. Core Deposits: Total deposits less
brokered deposits. Non-interest Income, net (Core): Reflects total banking and financial service revenues. Total Core Revenues: Reflects net interest income plus non-interest income, net (core).
Non-GAAP Reconciliations (in thousands, except ratio data) As of or for the
Quarters Ended, As of or for the Years Ended December 31, Tangible Common Equity and Tangible Assets 2025Q4 2025Q3 2025Q2 2025Q1 2024Q4 2024Q3 2025 2024 2023 2022 2021 Total Stockholders' Equity $ 1,390,005 $
1,375,417 $ 1,334,453 $ 1,295,361 $ 1,254,371 $ 1,318,132 $ 1,390,005 $ 1,254,371 $ 1,193,480 $ 1,042,406 $
1,069,160 Goodwill (84,241) (84,241) (84,241) (84,241) (84,241) (84,241) (84,241) (84,241) (84,241) (84,241) (86,069) Other Intangible Assets (9,855) (11,086) (12,318) (13,550) (14,782) (16,260) (9,855) (14,782)
(20,694) (27,593) (36,093) Tangible Common Equity (Non-GAAP) $ 1,295,909 $ 1,280,090 $ 1,237,894 $ 1,197,570 $ 1,155,348 $ 1,217,631 $ 1,295,909 $ 1,155,348 $ 1,088,545 $ 930,572 $ 946,998 Total Assets $ 12,465,657 $
12,229,812 $ 12,231,510 $ 11,729,257 $ 11,500,734 $ 11,461,382 $ 12,465,657 $ 11,500,734 $ 11,344,453 $ 9,818,780 $
9,899,720 Goodwill (84,241) (84,241) (84,241) (84,241) (84,241) (84,241) (84,241) (84,241) (84,241) (84,241) (86,069) Core Deposit
Intangible (7,547) (8,490) (9,433) (10,377) (11,320) (12,452) (7,547) (11,320) (15,848) (21,131) (27,630) Customer Relationship
Intangible (2,308) (2,596) (2,885) (3,173) (3,462) (3,808) (2,308) (3,462) (4,846) (6,462) (8,368) Other Intangible Assets – – – – – – – – – – (95) Tangible Assets (Non-GAAP) $ 12,371,561 $ 12,134,485 $
12,134,951 $ 11,631,466 $ 11,401,711 $ 11,360,881 $ 12,371,561 $ 11,401,711 $ 11,239,518 $ 9,706,946 $ 9,777,558 Tangible Common Equity to Tangible Assets
(Non-GAAP) 10.47% 10.55% 10.20% 10.30% 10.13% 10.72% 10.47% 10.13% 9.68% 9.59% 9.69% As of or for the Years Ended December 31, (in thousands, except ratio data) Return on Average Tangible Common Equty As of or for the Quarters
Ended, 2025Q4 2025Q3 2025Q2 2025Q1 2024Q4 2024Q3 2025 2024 2023 2022 2021 Net Income $ 55,893 $ 51,838 $ 51,801 $ 45,572 $ 50,347 $ 47,000 $ 205,103 $ 198,170 $ 181,872 $ 166,239 $ 144,896 Average Stockholders’ Equity $
1,394,097 $ 1,361,055 $ 1,318,886 $ 1,290,888 $ 1,304,779 $ 1,280,760 $ 1,341,568 $ 1,255,872 $ 1,110,919 $ 1,042,202 $ 1,049,960 Average Intangible Assets (94,711) (95,943) (97,175) (98,407) (99,762) (101,240) (96,559)
(101,979) (108,384) (117,654) (127,064) Average Tangible Common Equity (Non-GAAP) $ 1,299,386 $ 1,265,112 $ 1,221,711 $ 1,192,481 $ 1,205,017 $ 1,179,520 $ 1,245,009 $ 1,153,893 $ 1,002,535 $ 924,549 $ 922,896 Average Return on
Tangible Common Equity (Non-GAAP) 17.21% 16.39% 16.96% 15.29% 16.71% 15.94% 16.47% 17.17% 18.14% 17.98% 15.70% As of or for the Years Ended December 31, (in thousands, except ratio data) Total Core Revenue As of or for the
Quarters Ended, 2025Q4 2025Q3 2025Q2 2025Q1 2024Q4 2024Q3 2025 2024 2023 2022 2021 Banking service revenues 16,550 15,930 15,982 15,981 15,329 15,554 64,443 66,923 70,078 71,161 71,706 Wealth management
revenues 11,378 9,014 8,918 8,455 10,626 8,449 37,765 35,622 32,990 32,635 35,044 Mortgage banking activities 4,699 4,312 5,347 4,776 6,811 2,268 19,133 18,636 18,787 21,929 22,508 Total banking and financial
service revenues $ 32,627 $ 29,256 $ 30,247 $ 29,212 $ 32,766 $ 26,271 $ 121,341 $ 121,181 $ 121,855 $ 125,725 $ 129,258 Net Interest Income $ 152,744 $ 154,724 $ 151,928 $ 149,071 $ 149,138 $ 147,875 $ 608,467 $ 588,440
$ 560,870 $ 482,080 $ 407,370 Total core revenues $ 185,371 $ 183,980 $ 182,175 $ 178,283 $ 181,904 $ 174,146 $ 729,808 $ 709,621 $ 682,725 $ 607,805 $ 536,628 Non-interest expense $ 105,011 $ 96,548 $ 94,802 $
93,452 $ 99,718 $ 91,600 $ 389,813 $ 375,690 $ 363,365 $ 345,546 $ 325,756 Efficiency ratio 56.65% 52.48% 52.04% 52.42% 54.82% 52.60% 53.41% 52.94% 53.22% 56.85% 60.70% (in thousands, except ratio data) Pre-Tax
Pre-Provision Net Revenue As of or for the Quarter Ended, 2025Q4 2025Q3 2025Q2 2025Q1 2024Q4 2024Q3 As of or for the Years Ended December 31, 2025 2024 2023 2022 2021 Pre-Tax Income $ 47,420 $ 61,371 $ 65,879 $ 59,448 $ 52,787 $
61,784 $ 234,117 $ 253,748 $ 265,248 $ 244,105 $ 214,603 Provision Expense 31,889 28,258 21,678 25,688 30,190 21,359 107,513 82,251 60,638 24,119 221 Pre-Tax Pre-Provision Net Revenue (Non-GAAP) $ 79,309 $ 89,629 $ 87,557 $
85,136 $ 82,977 $ 83,143 $ 341,630 $ 335,999 $ 325,886 $ 268,224 $ 214,824 Average Assets $ 12,377,910 $ 12,248,544 $ 11,958,502 $ 11,657,544 $ 11,523,140 $ 11,347,795 $ 12,063,114 $ 11,326,121 $ 10,174,624 $ 10,119,505 $
10,307,369 Pre-Tax Pre-Provision Average Return on Assets (Non-GAAP) 2.56% 2.93% 2.93% 2.92% 2.88% 2.93% 2.83% 2.97% 3.20% 2.65% 2.08% 33
Core Deposits / Cost of Core Deposits (Average) 2025Q4 2025Q3 2025Q2
2025Q1 2024Q4 2024Q3 Average Balance NOW Accounts $ 3,211,013 $ 3,208,598 $ 3,211,382 $ 3,193,088 $ 3,282,808 $ 3,395,425 Savings Accounts 2,258,856 2,215,538 2,119,036 2,093,431 2,038,523 2,009,028 Time
Deposits 1,840,618 1,854,320 1,824,006 1,795,517 1,689,684 1,616,946 Non-Interest Bearing Deposits 2,620,452 2,587,913 2,581,877 2,541,743 2,544,198 2,567,353 Total Core Deposits Balance (Non-GAAP) $ 9,930,939 $ 9,866,369 $
9,736,301 $ 9,623,779 $ 9,555,213 $ 9,588,752 Interest Expense NOW Accounts $ 14,976 $ 15,941 $ 15,451 $ 14,897 $ 16,871 $ 20,013 Savings Accounts 6,450 6,212 5,175 5,028 5,062 4,777 Time
Deposits 14,113 14,362 13,960 13,777 13,247 12,202 Non-Interest Bearing Deposits – – – – – – Total Core Deposits Interest Expense (Non-GAAP) $ 35,539 $ 36,515 $ 34,586 $ 33,702 $ 35,180 $ 36,992 Core Deposit Cost
(Non-GAAP) 1.42% 1.47% 1.42% 1.42% 1.46% 1.53% 34 (in thousands, except ratio data) As of or for the Quarter Ended, Non-GAAP Reconciliations (Continued)
Thank you.