This report includes management’s discussion and analysis (“MD&A”) of the consolidated financial position and financial performance of Popular, Inc. (the “Corporation" or “Popular"). All accompanying tables, financial statements and notes included elsewhere in this report should be considered an integral part of this analysis. The Corporation is a diversified, publicly owned financial holding company subject to the supervision and regulation of the Board of Governors of the Federal Reserve System. The Corporation has operations in Puerto Rico, the United States (“U.S.") mainland and the U.S. and British Virgin Islands. In Puerto Rico, the Corporation provides retail, mortgage, commercial banking services and auto and equipment leasing and financing through its principal banking subsidiary, Banco Popular de Puerto Rico (“BPPR"), as well as broker-dealer and insurance services through specialized subsidiaries. In the U.S. mainland, the Corporation provides retail, mortgage and commercial banking services, as well as equipment leasing and financing, through its New York-chartered banking subsidiary, Popular Bank (“PB" or “Popular U.S."), which has branches located in New York, New Jersey and Florida. Note 26 to the Consolidated Financial Statements presents information about the Corporation’s business segments. As a financial services company, the Corporation’s earnings are significantly affected by general business and economic conditions in the markets which we serve. Lending and deposit activities and fee income generation are influenced by the level of business spending and investment, consumer income, spending and savings, capital market activities, competition, customer preferences, interest rate conditions and prevailing market rates on competing products. The Corporation operates in a highly regulated environment and may be adversely affected by changes in federal and local laws and regulations. Also, competition with other financial institutions, as well as with non-traditional financial service providers and technology companies that provide electronic and internet-based financial solutions and services, could adversely affect its profitability. The Corporation continuously monitors general business and economic conditions, industry-related indicators and trends, competition, interest rate volatility, credit quality indicators, loan and deposit demand, operational and systems efficiencies, revenue enhancements and changes in the regulation of financial services companies. The description of the Corporation’s business contained in Item 1 of the 2025 Form 10-K, while not all inclusive, discusses additional information about the business of the Corporation. Readers should also refer to “Part I - Item 1A" of the 2025 Form 10-K and “Part II - Item 1A" of this Form 10-Q for a discussion of certain risks and uncertainties to which the Corporation is subject, many beyond the Corporation’s control that, in addition to the other information in this Form 10-Q, readers should consider. The Corporation’s common stock is traded on the NASDAQ Global Select Market under the symbol BPOP. SIGNIFICANT EVENTS Capital Actions On July 23, 2026, the Corporation announced the following capital actions: •an increase in the Corporation’s quarterly common stock dividend from $0.75 to $0.90 per share, commencing with the dividend payable in the fourth quarter of 2026, subject to the approval of the Corporation’s Board of Directors; and •a new common stock repurchase authorization of up to $1 billion. The Corporation’s planned common stock repurchases may be executed in open market transactions, privately negotiated transactions, block trades or any other manner determined by the Corporation. The Corporation has repurchased approximately $280 million in common stock to date in 2026 and, as of June 30, 2026, had fully utilized the $500 million common stock repurchase authorization approved in 2025. The timing, quantity and price of the Corporation's common stock repurchases will be subject to various factors, including market conditions, the Corporation’s capital position, liquidity and financial performance, the capital impact of strategic initiatives and tax and regulatory considerations, including regulatory approvals for subsidiary dividends. The common stock repurchase authorization does not require the Corporation to acquire a specific dollar amount or number of shares and may be modified, suspended or terminated at any time without prior notice. 93 Table of Content OVERVIEW Financial highlights for the quarter ended June 30, 2026 The Corporation’s net income for the quarter ended June 30, 2026 amounted to $278.2 million, an increase of $67.8 million when compared to net income of $210.4 million for the quarter ended June 30, 2025. Higher net income was mainly driven by higher net interest income, higher non-interest income, and lower operating expenses partially offset by an increase in the provision for credit losses. Financial highlights for the quarter ended June 30, 2026 include: •Net interest income amounted to $693.4 million, an increase of $61.9 million when compared to the quarter ended June 30, 2025 driven by higher investments in U.S. Treasury securities at higher yields, loan growth and lower cost of deposits, mainly P.R. public deposits, partially offset by lower money market investments. Net interest income on a taxable equivalent basis for the second quarter of 2026 was $788.8 million, an increase of $91.6 million when compared to the same quarter for 2025. Net interest margin expanded by 17 basis points to 3.66% when compared to the same period in 2025. On a taxable equivalent basis, net interest margin expanded by 32 basis points to 4.17% when compared to the same period in 2025. •The provision for credit losses amounted to $65.5 million for the quarter ended June 30, 2026, an increase of $17.1 million when compared to the quarter ended June 30, 2025, driven by higher specific reserves in the BPPR commercial loan portfolio associated with the unreserved portion of a $155 million nonperforming loan held-in-portfolio ("NPL") transferred to loans held-for- sale ("LHFS") with a resulting $71 million charge-off and specific reserves related to two commercial and industrial relationships totaling $129 million that were classified as NPLs during the quarter, partially offset by lower provisions for certain consumer loan portfolios attributable to improved credit metrics, improved macroeconomic assumptions, net recoveries in the mortgage portfolio and lower volumes in the auto loan portfolio. Provision for credit losses decreased at PB primarily due to the higher qualitative reserves established during the second quarter of 2025, compared to 2026, to maintain adequate ACL coverage as well as an overall improvement in credit quality. •Non-interest income amounted to $180.5 million, an increase of $12.1 million when compared to the quarter ended June 30, 2025, mainly driven by higher credit and debit card fee income driven by higher activity and purchase volumes including those of commercial credit cards that benefited from the recent launch of new corporate-focused products. •Operating expenses amounted to $484.1 million for the quarter, reflecting a decrease of $8.6 million when compared to the quarter ended June 30, 2025. The decrease was mainly driven by lower operational loss reserves and lower professional services expense, partially offset by higher technology and software expenses as a result of our continued investment in technology and higher business promotion expenses. •Income tax expense of $45.7 million with an effective tax rate (“ETR”) of 14.1% during the quarter ended June 30, 2026, compared to an income tax expense of $47.9 million with an ETR of 18.5% for the quarter ended June 30, 2025 due to higher exempt income and other tax benefits, including the vesting of stock awards, the purchase of tax credits, and income subject to preferential tax rates. •At June 30, 2026, the Corporation’s total assets amounted to $79.0 billion, compared to $75.3 billion at December 31, 2025. The increase of $3.7 billion was primarily due to an increase in the available-for-sale (“AFS”) securities portfolio, driven by reinvestment in U.S. Treasury securities, and higher loans held-in-portfolio partially offset by a decrease in held-to-maturity (“HTM”) investment securities driven by maturities and principal paydowns. •Deposits amounted to $70.2 billion at June 30, 2026, an increase of $4.0 billion from December 31, 2025, primarily driven by growth at BPPR, mainly in P.R. public deposits and commercial deposits. •Stockholders’ equity amounted to $6.4 billion at June 30, 2026, compared to $6.2 billion at December 31, 2025. The Corporation and its banking subsidiaries continue to be well capitalized. As of June 30, 2026, the Corporation’s tangible book value per common share was $87.94, an increase of $5.29 from December 31, 2025. The Common Equity Tier 1 Capital Ratio at June 30, 2026 was 16.08%, compared to 15.72% at December 31, 2025. Refer to Table 1 for selected financial data for the quarters and for the six months ended June 30, 2026 and June 30, 2025. 94 Table of Content Table 1 - Financial Highlights Financial Condition Highlights Ending balances at Average for the six months ended (In thousands) June 30, 2026 December 31, 2025 Variance June 30, 2026 June 30, 2025 Variance Money market investments $4,555,489 $4,626,506 $(71,017) $4,973,483 $6,314,487 $(1,341,004) Investment securities 31,264,698 28,168,918 3,095,780 30,486,350 28,642,361 1,843,989 Loans[1] 39,838,441 39,337,516 500,925 39,423,927 37,310,383 2,113,544 Earning assets[2] 75,658,628 72,132,940 3,525,688 74,883,761 72,267,231 2,616,530 Total assets 78,972,300 75,348,267 3,624,033 76,933,119 75,391,749 1,541,370 Deposits 70,233,115 66,190,093 4,043,022 68,343,999 66,112,327 2,231,672 Borrowings 1,462,831 1,448,578 14,253 1,294,179 1,120,666 173,513 Total liabilities 72,539,295 69,099,188 3,440,107 70,610,924 68,224,476 2,386,448 Stockholders’ equity[3] 6,433,005 6,249,079 183,926 6,322,196 7,167,273 (845,077) Operating Highlights Quarters ended June 30, Six months ended June 30, (In thousands, except per share information) 2026 2025 Variance 2026 2025 Variance Net interest income $693,419 $631,549 $61,870 $1,363,599 $1,237,146 $126,453 Provision for credit losses 65,873 48,941 16,932 141,759 113,022 28,737 Non-interest income 180,545 168,477 12,068 346,171 320,538 25,633 Operating expenses 484,130 492,761 (8,631) 951,440 963,773 (12,333) Income before income tax 323,961 258,324 65,637 616,571 480,889 135,682 Income tax expense 45,747 47,884 (2,137) 92,683 92,947 (264) Net income $278,214 $210,440 $67,774 $523,888 $387,942 $135,946 Net income applicable to common stock $277,861 $210,087 $67,774 $523,182 $387,236 $135,946 Net income per common share - basic $4.35 $3.09 $1.26 $8.13 $5.64 $2.49 Net income per common share - diluted $4.35 $3.09 $1.26 $8.13 $5.64 $2.49 Dividends declared per common share $0.75 $0.70 $0.05 $1.50 $1.40 $0.10 Quarters ended June 30, Six months ended June 30, Selected Statistical Information 2026 2025 2026 2025 Common Stock Data End market price $164.18 $110.21 $164.18 $110.21 Book value per common share at period end 100.38 87.31 100.38 87.31 Profitability Ratios Return on assets 1.41% 1.11% 1.35% 1.04% Return on common equity 15.18 11.77 14.48 10.93 Net interest spread (non-taxable equivalent basis) 3.10 2.85 3.10 2.79 Net interest spread (taxable equivalent) - non-GAAP 3.61 3.21 3.59 3.14 Net interest margin (non-taxable equivalent basis) 3.66 3.49 3.67 3.45 Net interest margin (taxable equivalent) - non-GAAP 4.17 3.85 4.16 3.80 Capitalization Ratios Average equity to average assets 9.32% 9.48% 9.36% 9.51% Common equity Tier 1 capital 16.08 15.91 16.08 15.91 Tangible common book value per common share (non-GAAP)[4] 87.94 75.41 87.94 75.41 Return on average tangible common equity before adjusting for the impact of unrealized (gains) losses on AFS securities including those transferred to HTM (non-GAAP) 20.12 14.38 19.16 13.28 Return on average tangible common equity ("ROTCE") (non-GAAP) [2] 17.02 13.26 16.25 12.32 Tier I capital 16.13 15.96 16.13 15.96 Total capital 17.85 17.70 17.85 17.70 Tier 1 leverage 8.57 8.51 8.57 8.51 [1] Includes loans held-for-sale. [2] Excludes unrealized gains or losses on debt securities available-for-sale and the unrealized loss related to certain securities transferred from available-for- sale to held-to-maturity [3] Stockholders' equity for June 30, 2025 excludes certain unrealized gains or losses on debt securities available-for-sale and the unrealized loss related to certain securities transferred from available-for- sale to held-to-maturity [4] Refer to Table 9 for reconciliation to GAAP financial measures. Non-GAAP Financial Measures This Form 10-Q contains financial information prepared under accounting principles generally accepted in the United States (“U.S.GAAP") and non-GAAP financial measures. Management uses non-GAAP financial measures when it is determined that these measures provide meaningful information about the underlying performance of the Corporation’s ongoing operations. Non-GAAP financial measures used by the Corporation may not be comparable to similarly named non-GAAP financial measures used by other companies. 95 Table of Content Adjusted net income - Non-GAAP Financial Measure In addition to analyzing the Corporation’s results on a reported basis, management monitors whether the impact of certain non-recurring or infrequent transactions need to be excluded from the results of operations to present what is then considered to be "adjusted net income" of the Corporation. Management believes that the "adjusted net income" provides meaningful information about the underlying performance of the Corporation’s ongoing operations. The "adjusted net income" is a non-GAAP financial measure. There were no non-GAAP adjustments for the quarter and six months ended June 30, 2026. Net interest income on a taxable equivalent basis - Non-GAAP Financial Measure Net interest income, on a taxable equivalent basis, is presented with its different components in Tables 2 and 3 for the quarter and six months ended June 30, 2026, as compared with the same period in 2025, segregated by major categories of interest earning assets and interest-bearing liabilities. The main sources of tax-exempt interest income are certain loans and investments in obligations of the U.S. Government, its agencies and sponsored entities, and certain obligations of the Commonwealth of Puerto Rico and its agencies and assets held by the Corporation’s international banking entities. On Tables 2 and 3, the interest income has been converted to a taxable equivalent basis, using the applicable statutory income tax rates for each period net of interest expense that the Puerto Rico tax law requires to be disallowed, based on an equal proportion of tax-exempt assets to total assets, and by an allocation of general and administrative expenses attributed to exempt income, reducing the benefit of the tax-exempt income. The effective yield, on a taxable equivalent basis, will vary depending on the level of these expenses that are attributed to the available exempt income. Under Puerto Rico tax law, the exempt interest can be deducted up to the amount of taxable income. Management believes that this presentation provides meaningful information since it facilitates the comparison of revenues arising from taxable and exempt sources. Tangible Common Equity and Tangible Assets Tangible common equity, tangible common equity ratio, tangible assets and tangible book value per common share are non-GAAP financial measures. Tangible common equity ratio and tangible book value per common share should be used in conjunction with more traditional bank capital ratios commonly used by banks and analysts to compare the capital adequacy of banking organizations with significant amounts of goodwill or other intangible assets, typically stemming from the use of the purchase accounting method for mergers and acquisitions. Return on average tangible common equity is also a measure commonly used by banks and analysts to measure the return on that tangible common equity. The Corporation presents return on average tangible common equity with and without the impact of unrealized (gains) losses on AFS securities including those transferred to HTM in the denominator because we believe that adding back the impact of unrealized (gains) losses on AFS securities including those transferred to HTM to the denominator provides meaningful information about the Corporation’s return on capital. Unless otherwise indicated, references to “ROTCE” in this Form 10-Q means return on average tangible common equity as adjusted to add back unrealized (gains) losses on AFS securities, including those transferred to HTM. Tangible common equity, tangible assets and other related measures should not be used in isolation or as a substitute for stockholders' equity, total assets or any other measure calculated in accordance with GAAP. Moreover, the way the Corporation calculates its tangible common equity, tangible assets and other related measures may differ from that of other companies reporting measures with similar names. Table 9 provides a reconciliation of total stockholders’ equity to tangible common equity and total assets to tangible assets as of June 30, 2026 and December 31, 2025. CRITICAL ACCOUNTING POLICIES / ESTIMATES The accounting and reporting policies followed by the Corporation and its subsidiaries conform to U.S. GAAP and general practices within the financial services industry. Various elements of the Corporation’s accounting policies, by their nature, are inherently subject to estimation techniques, valuation assumptions and other subjective assessments. Management has discussed the development and selection of the critical accounting estimates with the Corporation’s Audit Committee. The Corporation has identified as critical accounting estimates those related to: (i) Fair Value Measurement of Financial Instruments; (ii) Loans and Allowance for Credit Losses; (iii) Income Taxes; (iv) Goodwill and Other Intangible Assets; and (v) Pension and Postretirement Benefit Obligations. For a summary of these critical accounting estimates, refer to the MD&A included in the 2025 Form 10-K. Also, refer to Note 2 to the Consolidated Financial Statements included in the 2025 Form 10-K for a summary of the Corporation’s significant accounting policies including those considered critical accounting estimates and to Note 3 to the Consolidated Financial Statements included in this Form 10-Q for information on recently adopted accounting standard updates. 96 Table of Content STATEMENT OF OPERATIONS ANALYSIS NET INTEREST INCOME Net interest income (“NII”) for the quarter ended June 30, 2026 was $693.4 million, an increase of $61.9 million, when compared to the same quarter in 2025. NII growth was attributable to higher income from investments in U.S Treasury Securities, loan growth and lower cost of deposits by $23.8 million, primarily due to P.R. public deposits. Net interest income on a taxable equivalent basis for the second quarter of 2026 was $788.8 million, an increase of $91.6 million when compared to the same period in 2025. Net interest margin (“NIM”) for the quarter was 3.66%, an increase of 17 basis points when compared to the second quarter of 2025. On a taxable equivalent basis, NIM for the second quarter of 2026 was 4.17%, higher by 32 basis points compared to the second quarter of 2025, mainly due to higher level of tax-exempt securities and loans. NIM expansion, when compared to the same quarter of the previous year, was primarily due to higher yields on U.S. Treasury securities and lower deposit costs resulting from the repricing of market-linked high-cost deposits, mainly P.R. public deposits. Total cost of deposits decreased 21 basis points to 1.57% compared to the second quarter of 2025. Excluding P.R. public deposits, total deposit costs decreased five basis points to 1.10% compared to the same quarter in 2025. On a taxable equivalent basis, the main drivers of the increase for the second quarter of 2026 compared to the second quarter of 2025 were: •higher income from loans by $40.2 million, mostly due to higher average loan portfolio balances by $2.0 billion across most portfolios, along with higher yields from auto, leases and mortgage portfolios. When compared to the second quarter of 2025, loan yields increased three basis points to 7.53%; •higher income from U.S. Treasury securities of $52.9 million, or 43 basis points, attributable to higher average balances from purchases and reinvestments in higher-yielding U.S. Treasury securities, including $2.5 billion of U.S. Treasury Notes ("U.S. T- Notes") purchased in the third quarter of 2025 and $1.1 billion U.S. T-Notes purchased in the second quarter of 2026; and •lower interest expense on deposits by $23.8 million or 28 basis points. The cost of interest-bearing deposits decreased by 28 basis points, driven by repricing of market-linked P.R. public deposits which decreased by 61 basis points to 2.61%, coupled with a decrease in Popular U.S. deposit costs attributable to repricing across most deposit products; partially offset by: •lower income from money market investments by $22.5 million or 76 basis points, as a result of lower average balances, driven by higher re-investment activity in U.S. Treasury securities and loan growth, coupled with lower yields resulting from declining short-term market rates during late 2025. 97 Table of Content Table 2 - Analysis of Levels & Yields on a Taxable Equivalent Basis (Non-GAAP) Quarter ended June 30, 2026 Average Volume Average Yields / Costs Interest VarianceAttributable to 2026 2025 Variance 2026 2025 Variance 2026 2025 Variance Rate Volume (In millions) (In thousands) $5,095 $6,251 $(1,156) 3.70% 4.46% (0.76)% Money market investments $47,021 $69,532 $(22,511) $(10,800) $(11,711) 31,091 28,809 2,282 3.69 3.29 0.40 Investment securities [1] 286,115 236,372 49,743 25,813 23,930 32 27 5 5.76 5.99 (0.23) Trading securities 454 407 47 (16) 63 36,218 35,087 1,131 3.69 3.50 0.19 Total money market, investment and trading securities 333,590 306,311 27,279 14,997 12,282 Loans: 19,932 18,676 1,256 6.73 6.73 — Commercial 334,494 313,493 21,001 (80) 21,081 1,764 1,459 305 7.90 8.19 (0.29) Construction 34,729 29,806 4,923 (1,113) 6,036 1,970 1,963 7 7.45 7.18 0.27 Leasing 36,680 35,249 1,431 1,307 124 8,732 8,339 393 6.15 5.89 0.26 Mortgage 134,236 122,873 11,363 5,431 5,932 3,310 3,211 99 13.74 14.00 (0.26) Consumer 113,356 112,083 1,273 (1,995) 3,268 3,867 3,937 (70) 9.32 9.14 0.18 Auto 89,901 89,706 195 1,809 (1,614) 39,575 37,585 1,990 7.53 7.50 0.03 Total loans 743,396 703,210 40,186 5,359 34,827 $75,793 $72,672 $3,121 5.70% 5.57% 0.13% Total earning assets $1,076,986 $1,009,521 $67,465 $20,356 $47,109 Interest bearing deposits: $8,819 $8,062 $757 1.69% 1.71% (0.02)% NOW and money market $37,237 $34,288 $2,949 $(1,647) $4,596 14,817 14,605 212 0.78 0.83 (0.05) Savings 28,640 30,378 (1,738) (1,134) (604) 8,907 8,532 375 2.95 3.15 (0.20) Time deposits 65,411 67,032 (1,621) (4,675) 3,054 21,502 20,333 1,169 2.61 3.22 (0.61) P.R. public deposits 139,966 163,360 (23,394) (32,122) 8,728 54,045 51,532 2,513 2.01 2.29 (0.28) Total interest bearing deposits 271,254 295,058 (23,804) (39,578) 15,774 15,268 14,825 443 Non-interest bearing demand deposits 69,313 66,357 2,956 1.57 1.78 (0.21) Total deposits 271,254 295,058 (23,804) (39,578) 15,774 539 470 69 3.85 4.52 (0.67) Short-term borrowings 5,172 5,300 (128) (831) 703 741 832 (91) 6.38 5.79 0.59 Other medium and long-term debt 11,794 11,965 (171) 1,253 (1,424) 55,325 52,834 2,491 2.09 2.36 (0.27) Total interest bearing liabilities (excluding demand deposits) 288,220 312,323 (24,103) (39,156) 15,053 5,200 5,013 187 Other sources of funds $75,793 $72,672 $3,121 1.53% 1.72% (0.19)% Total source of funds $288,220 $312,323 $(24,103) $(39,156) $15,053 4.17% 3.85% 0.32% Net interest margin/ income on a taxable equivalent basis (Non- GAAP) $788,766 $697,198 $91,568 $59,512 $32,056 3.61% 3.21% 0.40% Net interest spread Taxable equivalent adjustment 95,347 65,649 29,698 3.66% 3.49% 0.17% Net interest margin/ income non-taxable equivalent basis (GAAP) $693,419 $631,549 $61,870 Note: The changes that are not due solely to volume or rate are allocated to volume and rate based on the proportion of the change in each category. [1] Average balances exclude unrealized gains or losses on debt securities available-for-sale and the unrealized loss related to certain securities transferred from available-for-sale to held-to-maturity. NII for the six months ended June 30, 2026 was $1.4 billion, an increase of $126.5 million when compared to the same period in 2025. The NII increase was attributable to higher income from U.S. Treasury securities and loan growth, and lower cost on deposits by $62.2 million, mainly due to lower cost of P.R. public deposits by 64 basis points compared to the same period in 2025. NII on a taxable equivalent basis (“FTE”) of $1.5 billion, increased $185.5 million when compared with the same period of 2025. NIM increased 22 basis points to 3.67%. NIM FTE was 4.16%, an increase of 36 basis points when compared to the same period in 2025. NIM expansion was mainly driven by money market and investments securities yields which increased by 17 basis points, purchases and re-investments of maturities into higher yielding U.S. Treasury securities, and lower deposit costs resulting mainly from the repricing of P.R. 98 Table of Content public market-linked high-cost deposits. Total cost of deposits decreased 24 basis points to 1.57% compared to the same period in 2025. Excluding P.R. public deposits, total deposit costs decreased seven basis points to 1.09% compared to the same period in 2025. On a taxable equivalent basis, the main drivers for the six months ended on June 30, 2026 compared to the six months ended June 30, 2025: •higher income from loans by $87.2 million, or four basis points, driven by loan growth particularly across most portfolios, along with higher loan yields driven by the auto, leases and mortgage portfolios; •higher income from U.S. Treasury securities by $95.3 million, or 44 basis points, primarily reflecting higher average balances due to purchases of and reinvestments in higher-yielding U.S. Treasury securities including $2.5 billion of U.S. T-Notes purchased in the third quarter of 2025 and $1.1 billion U.S. T-Notes purchased in the second quarter of 2026; and •lower interest expense on deposits by $62.2 million or 24 basis points. The cost of interest-bearing deposits declined by 32 basis points, driven by a 64 basis point decrease in market-linked P.R. public deposits to 2.63%, coupled with lower deposit costs in Popular U.S. attributable to repricing of online savings and time deposits; partially offset by: •lower income from money market investments by $48.4 million or 76 basis points, reflecting lower average balances and lower yields attributable to the decline in short-term market rates during late 2025. 99 Table of Content Table 3 - Analysis of Levels & Yields on a Taxable Equivalent Basis (Non-GAAP) Six month period ended June 30, 2026 Average Volume Average Yields / Costs Interest VarianceAttributable to 2026 2025 Variance 2026 2025 Variance 2026 2025 Variance Rate Volume (In millions) (In thousands) $4,973 $6,314 $(1,341) 3.70% 4.46% (0.76)% Money market investments $91,261 $139,698 $(48,437) $(21,575) $(26,862) 30,454 28,613 1,841 3.61 3.22 0.39 Investment securities [1] 545,012 456,807 88,205 50,353 37,852 33 29 4 5.66 5.90 (0.24) Trading securities 916 847 69 (36) 105 35,460 34,956 504 3.62 3.45 0.17 Total money market, investment and trading securities 637,189 597,352 39,837 28,742 11,095 Loans: 19,828 18,585 1,243 6.72 6.72 — Commercial 660,881 619,461 41,420 (21) 41,441 1,731 1,385 346 8.02 8.15 (0.13) Construction 68,796 55,995 12,801 (964) 13,765 1,977 1,951 26 7.40 7.14 0.26 Leasing 73,139 69,693 3,446 2,485 961 8,698 8,254 444 6.11 5.86 0.25 Mortgage 265,915 241,789 24,126 10,791 13,335 3,310 3,207 103 13.80 14.02 (0.22) Consumer 226,486 222,989 3,497 (3,386) 6,883 3,880 3,929 (49) 9.32 9.11 0.21 Auto 179,398 177,511 1,887 4,154 (2,267) 39,424 37,311 2,113 7.53 7.49 0.04 Total loans 1,474,615 1,387,438 87,177 13,059 74,118 $74,884 $72,267 $2,617 5.68% 5.54% 0.14% Total earning assets $2,111,804 $1,984,790 $127,014 $41,801 $85,213 Interest bearing deposits: $8,687 $8,022 $665 1.66% 1.72% (0.06)% NOW and money market $71,397 $68,290 $3,107 $(5,927) $9,034 14,725 14,556 169 0.77 0.85 (0.08) Savings 56,353 61,658 (5,305) (3,967) (1,338) 8,812 8,466 346 2.97 3.18 (0.21) Time deposits 129,654 133,713 (4,059) (9,545) 5,486 20,935 20,310 625 2.63 3.27 (0.64) P.R. public deposits 273,268 329,260 (55,992) (65,601) 9,609 53,159 51,354 1,805 2.01 2.33 (0.32) Total interest bearing deposits 530,672 592,921 (62,249) (85,040) 22,791 15,185 14,758 427 Non-interest bearing demand deposits 68,344 66,112 2,232 1.57 1.81 (0.24) Total deposits 530,672 592,921 (62,249) (85,040) 22,791 568 297 271 3.86 4.57 (0.71) Short-term borrowings 10,875 6,726 4,149 (1,116) 5,265 757 847 (90) 6.32 5.72 0.60 Other medium and long-term debt 23,709 24,077 (368) 2,474 (2,842) 54,484 52,498 1,986 2.09 2.40 (0.31) Total interest bearing liabilities (excluding demand deposits) 565,256 623,724 (58,468) (83,682) 25,214 5,215 5,011 204 Other sources of funds $74,884 $72,267 $2,617 1.52% 1.74% (0.22)% Total source of funds $565,256 $623,724 $(58,468) $(83,682) $25,214 4.16% 3.80% 0.36% Net interest margin/ income on a taxable equivalent basis (Non- GAAP) $1,546,548 $1,361,066 $185,482 $125,483 $59,999 3.59% 3.14% 0.45% Net interest spread Taxable equivalent adjustment 182,949 123,920 59,029 3.67% 3.45% 0.22% Net interest margin/ income non-taxable equivalent basis (GAAP) $1,363,599 $1,237,146 $126,453 Note: The changes that are not due solely to volume or rate are allocated to volume and rate based on the proportion of the change in each category. [1] Average balances exclude unrealized gains or losses on debt securities available-for-sale and the unrealized loss related to certain securities transferred from available-for-sale to held-to-maturity. 100 Table of Content Provision for Credit Losses - Loans Held-in-Portfolio and Unfunded Commitments For the quarter ended June 30, 2026, the Corporation recorded a provision for credit losses related to loans held-in-portfolio and unfunded commitments of $65.5 million, an increase of $17.1 million when compared to the same quarter of the previous year. The provision for loan and lease losses was $65.2 million, an increase of $15.6 million compared to the same quarter of the previous year, and the provision for unfunded commitments was $0.4 million, an unfavorable variance of $1.5 million, mainly driven by a release of the unfunded commitments reserve in BPPR during the second quarter of 2025. As discussed in Note 8 to the Consolidated Financial Statements, the Corporation estimates the ACL by weighting the outputs of optimistic, baseline, and pessimistic scenarios. Among the three scenarios evaluated to estimate the ACL, the baseline scenario was assigned the highest probability, followed by the pessimistic scenario, and then the optimistic scenario with the lowest probability. There were no changes to the probability weights assigned during the second quarter of 2026 when compared to June 30, 2025. The major drivers of the changes in the provision for loan losses during the quarter by business segment when compared to the same quarter in 2025, were as follows: •In the BPPR segment, the provision for loan losses was $61.7 million, an increase of $18.6 million. The increase was primarily attributable to a $51.4 million increase in provision expense for the commercial loan portfolio, reflecting higher specific reserves, including a portion of the $71.3 million charge-off related to a $155.0 million non-performing loan transferred to held-for-sale that had not been previously reserved, as well as specific reserves for two commercial and industrial loans totaling $129.0 million that were placed on non-performing status during the second quarter of 2026. This increase was partially offset by a $32.7 million decrease in provision expense for the consumer and mortgage loan segments driven by improved credit metrics in the consumer portfolios and improved macroeconomic assumptions and higher net recoveries in the mortgage loan segment. •In the Popular U.S. segment, the provision for loan losses was $3.4 million for the quarter ended June 30, 2026, a decrease of $3.0 million, mainly driven by lower provisions in both the commercial and mortgage segments, with reductions of $1.6 million and $1.3 million, respectively. The favorable variance was due to higher qualitative reserves for commercial loans established in the second quarter of 2025, in addition to an overall improvement in credit quality. For the six months ended June 30, 2026, the provision for credit losses related to loans held-in-portfolio and unfunded commitments amounted to $141.3 million, an increase of $29.0 million, compared to the six months ended June 30, 2025. The provision for loan losses was $140.8 million, an increase of $26.1 million, and the provision related to reserves for unfunded commitments was $0.5 million, an unfavorable variance of $2.9 million, mainly driven by a release of the unfunded commitments reserves by $2.4 million in the six-month period ended June 30, 2025. The major drivers of the change in the provision for loan losses during the six months ended June 30, 2026 by business segment when compared to the same period in 2025, were as follows: •In the BPPR segment, the provision for loan losses was $136.2 million, an increase of $39.2 million, driven by higher provision expense in the commercial loan segment associated with the $71.3 million charge-off mentioned above, partially offset by lower provision in the mortgage loan portfolio due to higher recoveries recognized, consumer loans with lower reserves, and changes in macroeconomic forecasts. •In the Popular U.S. segment, the provision for loan losses was $5.8 million, a decrease of $13.1 million, driven by lower provision expense in both the commercial and consumer loan segments, due to higher qualitative reserves established in 2025 to address ACL coverage and improvements in overall credit quality. At June 30, 2026, the total allowance for credit losses for loans held-in-portfolio amounted to $784.8 million, a decrease of $23.2 million when compared to December 31, 2025. The ratio of the allowance for credit losses to loans held-in-portfolio was 1.97% at June 30, 2026 compared to 2.05 % at December 31, 2025. Refer to Note 8 to the Consolidated Financial Statements for additional information on the Corporation’s methodology to estimate its ACL. Refer to the Credit Risk section of this MD&A for a detailed analysis of net charge-offs, non- performing assets, the allowance for credit losses and selected loan losses statistics. Non-Interest Income Non-interest income for the second quarter of 2026 of $180.5 million, an increase of $12.1 million when compared with the same quarter for the previous year. The variance was primarily due to: •higher other service fees by $8.3 million, primarily driven by a $5.9 million increase in debit and credit card fees, reflecting growth in transaction activity and higher purchase volumes, coupled with a $1.1 million increase in asset management fees driven by higher assets under management; and •higher other operating income by $2.4 million, mainly due to a $6.1 million increase in earnings from an investment accounted for under the equity method that benefited from an unrealized gain of $3.1 million in the valuation of an investment, partially offset by two items recognized in Q2 2025, a $2.8 million reimbursement of excess interest paid to the U.S. Internal Revenue Service 101 Table of Content (“IRS”) related to late payment penalties on tax withholdings for intercompany distributions previously disclosed in 2024, and a $1.2 million cash distribution from the exit of a legacy equity investment. Non-interest income for the six months ended June 30, 2026 of $346.2 million, an increase of $25.6 million when compared to the same period of the previous year. The main factors that contributed to the variance were: •higher other service fees by $16.7 million, primarily driven by an $11.3 million increase in debit and credit card fees, reflecting growth in transaction activity and higher purchase volumes including those of commercial credit cards, coupled with a $4.3 million increase in asset management fees driven by higher assets under management; and •higher other operating income by $6.2 million, primarily reflecting a $10.5 million increase in earnings from an investment accounted for under the equity method, partially offset by a $3.9 million reimbursement of excess interest paid to the U.S. Internal Revenue Service (“IRS”) related to late payment penalties on tax withholdings for intercompany distributions, and a $1.2 million cash distribution from the exit of a legacy equity investment. Operating Expenses Operating expenses for the second quarter of 2026 totaled $484.1 million, a decrease of $8.6 million when compared to the same quarter of 2025. The main drivers of the variance were: •lower other operating expenses by $10.4 million, attributable to a $5.6 million decrease in insurance claim reserves compared to the second quarter of 2025 and a $3.1 million decrease in reserves for operational losses; and •lower professional fees by $3.6 million, primarily reflecting lower advisory fees associated with corporate initiatives and regulatory compliance activities, partially offset by: •higher technology and software expenses by $6.3 million, primarily reflecting increased software cost amortization driven by continued investments in technology and transformation initiatives, together with higher IT consulting fees; partially offset by lower network management service expenses. Operating expenses for the six months ended June 30, 2026 were $951.4 million, a decrease of $12.3 million when compared to the same period of 2025. The variance was primarily due to: •lower other operating expenses by $19.1 million, primarily due to lower reserves for operational losses by $5.2 million and lower insurance claim reserves by $5.6 million, higher gains on the sale of OREO properties by $3.2 million and a $2.4 million decrease in pension expense due to a lower discount rate used in the actuarial analysis when compared to the same period of 2025; •lower professional fees by $4.9 million, primarily driven by lower advisory expenses associated with corporate initiatives and regulatory compliance activities; partially offset by: •higher technology and software expenses by $11.7 million, primarily attributable to increases in software cost amortization, equipment depreciation, and IT consulting fees driven by continued investments in technology and transformation initiatives; partially offset by lower application and network management service charges; and •higher personnel costs by $3.0 million, mainly due to a $4.1 million increase in salaries driven by higher headcount and annual salary revisions, together with a $3.2 million increase in other compensation expenses; partially offset by a $4.2 million decrease in profit-sharing expense when compared to the same period of 2025. 102 Table of Content Table 4 - Operating Expenses Quarters ended June 30, Six Months Ended June 30, (Dollars in thousands) 2026 2025 Variance 2026 2025 Variance Salaries $134,448 $132,752 1,696 $269,261 263,702 5,559 Commissions, incentives and other bonuses 39,911 40,551 (640) 74,814 78,537 (3,723) Profit sharing 10,000 13,000 (3,000) 8,797 13,000 (4,203) Pension, postretirement and medical insurance 18,773 18,458 315 33,669 33,024 645 Other personnel costs, including payroll taxes 25,899 $24,594 1,305 58,559 53,805 4,754 Total personnel costs 229,031 229,355 (324) 445,100 442,068 3,032 Net occupancy expenses 27,764 29,140 (1,376) 55,063 56,358 (1,295) Equipment expenses 5,879 5,789 90 11,108 11,091 17 Other taxes 17,707 18,632 (925) 35,384 37,357 (1,973) Professional fees 24,484 28,108 (3,624) 50,037 54,933 (4,896) Technology and software expenses 90,971 84,696 6,275 180,110 168,364 11,746 Processing and transactional services Credit and debit cards 13,236 13,044 192 27,442 25,970 1,472 Other processing and transactional services 24,030 24,817 (787) 48,911 49,672 (761) Total processing and transactional services 37,266 37,861 (595) 76,353 75,642 711 Communications 4,261 5,010 (749) 8,770 9,914 (1,144) Business promotion Rewards and customer loyalty programs 19,600 18,047 1,553 34,992 34,412 580 Other business promotion 8,300 8,338 (38) 15,768 15,648 120 Total business promotion 27,900 26,385 1,515 50,760 50,060 700 Deposit insurance 9,977 9,407 570 19,894 19,442 452 Other real estate owned (OREO) expense (income) (3,238) (4,124) 886 (7,856) (7,454) (402) Other operating expenses - Operational losses 3,118 6,185 (3,067) 7,093 12,323 (5,230) All other 8,626 15,932 (7,306) 18,856 32,693 (13,837) Total other operating expenses 11,744 22,117 (10,373) 25,949 45,016 (19,067) Amortization of intangibles 384 385 (1) 768 982 (214) Total operating expenses $484,130 $492,761 (8,631) 951,440 963,773 (12,333) Income Taxes For the quarter ended June 30, 2026, the Corporation recorded income tax expense of $45.7 million, a decrease of $2.2 million when compared to the same period in 2025. The effective tax rate ("ETR") decreased to 14.1% from 18.5% driven by higher exempt income and other benefits including the purchase of tax credits and income subject to preferential income tax rates. For the six-month period ended June 30, 2026, income tax expense was $92.7 million, compared to $92.9 million reported for the same period in 2025. The ETR for the six-month period ended June 30, 2026, was 15.0% compared to 19.3% in the same period for 2025 driven by higher exempt income and other benefits, including the vesting of stock awards, the purchase of tax credits, and income subject to preferential income tax rates. At June 30, 2026, the Corporation had a net deferred tax asset amounting to $794.0 million, net of a valuation allowance of $470.6 million. The net deferred tax asset related to the U.S. Operations was $219.2 million, net of a valuation allowance of $386.6 million. Refer to Note 24 to the Consolidated Financial Statements for additional information on deferred tax asset balances. REPORTABLE SEGMENT RESULTS The Corporation’s reportable segments for managerial reporting purposes consist of Banco Popular de Puerto Rico and Popular U.S. A Corporate group has also been defined to support the reportable segments. For a description of the Corporation’s reportable segments, including additional financial information and the underlying management accounting process, refer to Note 26 to the Consolidated Financial Statements. The corporate group reported a net income of $8.8 million for the quarter ended June 30, 2026, compared with a net income of $3.3 million for the same quarter of the previous year. For the six months ended June 30, 2026, the corporate group reported a net income of $13.2 million, compared to a net loss of $0.3 million for the same period of the previous year, mainly due to higher income from equity method investments. There were no intercompany distributions between the U.S. subsidiaries and the bank holding companies. Highlights on the earnings results for the reportable segments are discussed below: 103 Table of Content Banco Popular de Puerto Rico The Banco Popular de Puerto Rico (“BPPR”) reportable segment’s net income amounted to $232.9 million for the quarter ended June 30, 2026, higher by $48.4 million when compared to the same quarter of the previous year. The main drivers for a higher income included: •net interest income increased $51.4 million to $589.9 million. The increase was primarily driven by higher income from money market and investment securities by $10.1 million or three basis points mainly driven by higher income of U.S. Treasury securities and by higher income from loans by $20.9 million driven by loan growth across most portfolios. The increase was also attributable to a $20.1 million, or 28 basis point, decrease on interest expense from deposits, primarily due to a 61 basis point reduction in the cost of market-linked Puerto Rico public deposits driven by a decline in short-term market rates when compared to the same period in 2025. NIM expanded 17 basis points to 3.85%. Deposit costs, at 1.32%, were lower by 21 basis points; •higher non-interest income by $10.1 million mainly due to higher service fees by $7.9 million driven by higher debit and credit card fees due to higher transaction activity and higher purchase volumes, as well as an increase in asset management fees; •lower operating expenses by $4.1 million mostly due to lower operational loss reserves by $9.0 million, partially offset by higher technology and software expenses by $3.1 million due to continuing investments in technology and transformation initiatives and higher professional fees by $1.1 million; and •lower income tax expense by $3.5 million mainly due to higher exempt income; partially offset by: •higher provision for credit losses by $18.6 million which resulted in a provision of $61.8 million for the quarter ended June 30, 2026. Refer to section "Provision for credit losses-Loans held-in-portfolio and unfunded commitments" in this MD&A for more discussion over the drivers of the provision for credit losses by business segment. For the six months ended June 30, 2026, the BPPR segment recorded a net income of $437.3 million compared to a net income of $350.4 million for the same period of the previous year. The factors that contributed to the variance in the financial results included the following: •net interest income increased $97.5 million to $1.2 billion compared with the same period of 2025. The increase was primarily driven by higher income from loans by $41.0 million driven by loan growth across most portfolios and higher income from money market and investment securities by $6.7 million mainly driven by U.S. Treasury securities, partially offset by lower income from money market investments. The increase was also attributable to a $49.5 million, or 30 basis points, decrease in interest expense on deposits, primarily due to a 64 basis point reduction in the cost of market-linked Puerto Rico public deposits driven by a decline in short-term market rates. NIM expanded 20 basis points to 3.86%. Deposit costs, at 1.31%, were lower by 23 basis points; •higher non-interest income by $17.3 million mainly due to higher service fees by $14.8 mainly due to higher debit and credit card fees driven by higher transaction activity and higher purchase volumes, as well as an increase in asset management fees; •lower operating expenses by $6.3 million mostly due to lower operational losses by $11.0 million and higher gains on repossessed unit sales by $3.2 million, partially offset by higher technology and software expenses by $4.7 million due to continuing investments in technology and transformation initiatives, and higher personnel costs by $2.1 million mainly due to an increase in salaries expenses driven by exempt employees; and •lower income tax expense by $6.4 million due mainly to higher exempt income; partially offset by: •the provision for credit losses increased by $39.2 million to $135.1 million. Refer to section "Provision for credit losses-Loans held-in-portfolio and unfunded commitments" in this MD&A for more discussion over the drivers of the provision for credit losses by business segment. Popular U.S. For the quarter ended June 30, 2026, the reportable segment of Popular U.S. reported a net income of $36.6 million, compared with a net income of $22.6 million for the same quarter of the previous year. The main drivers for higher net income are the following: •Net interest income increased $10.9 million to $113.1 million. The increase was primarily driven by higher income from loans resulting from higher average balances and yields in the commercial portfolio by 16 basis points, or $8.8 million. The increase was also due to a $5.1 million, or 24 basis points, decrease in interest expense on deposits, primarily due to repricing across most deposit products driven by a decline in short-term market rates; and 104 Table of Content •the provision for loan losses was $3.4 million, a decrease of $3.0 million. Refer to section "Provision for credit losses-Loans held- in-portfolio and unfunded commitments" in this MD&A for more discussion over the drivers of the provision for credit losses by business segment; partially offset by: •higher income tax expense by $5.0 million due to higher income before tax. For the six months ended June 30, 2026, the reportable segment of Popular U.S. recorded a net income of $73.6 million, compared with a net income of $37.4 million for the same period of the previous year. The factors that contributed to the variance in the financial results included the following: •Net interest income increased $29.6 million to $224.8 million. The increase was primarily driven by higher income from loans resulting from higher average balances and yields in the commercial portfolio. The increase also benefited from a $16.1 million, or 34 basis point, decrease in deposit interest expense, primarily due to repricing across most deposit products driven by a decline in short-term market rates; and •provision for loan losses was $5.8 million, a decrease of $13.1 million. Refer to section Provision for Credit Losses-Loans Held-in- Portfolio and Unfunded Commitments in this MD&A for more discussion over the drivers of the provision for credit losses by business segment; partially offset by: •higher income tax expense by $13.0 million due to higher income before tax. STATEMENT OF FINANCIAL CONDITION ANALYSIS Assets The Corporation’s total assets were $79.0 billion at June 30, 2026, compared to $75.3 billion at December 31, 2025. The variance in total assets of $3.7 billion was driven by an increase in AFS securities and loan growth across most portfolios, partially offset by a decrease in HTM securities. Refer to the Consolidated Statements of Financial Condition included in this report and to the following narrative for additional information. Money market investments and investment securities Money market investments decreased by $71.0 million as of June 30, 2026, when compared to December 31, 2025, due to the use of funds for loan growth and to the purchase of U.S. Treasury securities. AFS securities increased $4.2 billion, driven by investment in U.S. Treasury securities of $4.5 billion, partially offset by maturities and principal paydowns, mainly in mortgage-backed securities (“MBS”) and higher unrealized losses in AFS securities of $94.0 million. HTM securities decreased by $1.1 billion driven by maturities, partially offset by the accretion of $90.8 million of the discount related to U.S. Treasury securities previously reclassified from AFS to HTM. Refer to Note 5 and to Note 6 to the Consolidated Financial Statements for additional information with respect to the Corporation’s debt securities available-for- sale and held-to-maturity. Loans Loans held-in-portfolio were $39.7 billion at June 30, 2026, an increase of $422.3 million when compared to December 31, 2025. In the BPPR segment loan balances increased by $318.2 million, mainly in the mortgage, commercial and construction portfolios. The Popular U.S. segment also increased by $104.1 million mainly due to higher commercial real estate loans, partially offset by lower commercial multi- family and runoff from the exited residential mortgage business. At June 30, 2026, the Corporation’s loans to non-depository financial institutions (‘’NDFIs’’) amounted to $551.4 million, an increase of $6.4 million, compared to December 31, 2025. This increase was related to higher mortgage credit intermediaries by $24.8 million, mostly in Popular Bank, partially offset by decreases of $11.2 million in consumer and commercial credit intermediaries and $7.2 million in insurance companies. At June 30, 2026, the Corporation’s exposure to NDFIs was composed of $262.1 million to insurance companies for general corporate purposes unrelated to lending activities, $162.7 million related to consumer and commercial credit intermediaries, and $126.5 million related to mortgage credit intermediaries. All loans to NDFIs are current in their contractual payments and carry a ‘pass’ rating. Refer to Table 5 for a breakdown of the Corporation’s loan portfolio. Also, refer to Note 7 in the Consolidated Financial Statements for detailed information about the Corporation’s loan portfolio composition and loan purchases and sales. 105 Table of Content Table 5 - Loans Ending Balances (In thousands) June 30, 2026 December 31, 2025 Variance Loans held-in-portfolio: Commercial Commercial multi-family $2,399,424 $2,455,790 $(56,366) Commercial real estate non-owner occupied 5,620,875 5,543,284 77,591 Commercial real estate owner occupied 3,256,702 3,153,080 103,622 Commercial and industrial 8,774,084 8,607,412 166,672 Total Commercial 20,051,085 19,759,566 291,519 Construction 1,732,075 1,674,899 57,176 Mortgage 8,780,334 8,649,440 130,894 Leasing 1,968,035 2,001,365 (33,330) Consumer - Credit cards 1,237,997 1,256,717 (18,720) Home equity lines of credit 85,357 78,692 6,665 Personal 1,952,725 1,906,228 46,497 Auto 3,766,648 3,819,812 (53,164) Other 175,606 180,799 (5,193) Total Consumer 7,218,333 7,242,248 (23,915) Total loans held-in-portfolio $39,749,862 $39,327,518 $422,344 Loans held-for-sale: Commercial $83,700 $- $83,700 Mortgage 4,879 9,998 (5,119) Total loans held-for-sale $88,579 $9,998 $78,581 Total loans $39,838,441 $39,337,516 $500,925 Other assets Other assets amounted to $1.8 billion at June 30, 2026, an increase of $56.2 million when compared to $1.7 billion at December 31, 2025. The variance was mainly driven by an increase of $33.6 million in investments under the equity method, primarily due to the equity pickup from our investment in BHD, and an increase in prepaid taxes, mainly municipal taxes of $22.4 million. Refer to Note 10 to the Consolidated Financial Statements for a breakdown of the principal categories that comprise the caption of “Other Assets” in the Consolidated Statements of Financial Condition at June 30, 2026 and December 31, 2025. Liabilities The Corporation’s total liabilities were $72.5 billion at June 30, 2026, an increase of $3.4 billion, when compared to December 31, 2025. The following is a discussion of the significant changes in liabilities. Deposits and Borrowings Total Deposits The Corporation’s deposits totaled $70.2 billion as of June 30, 2026, compared to $66.2 billion as of December 31, 2025. Ending deposit balances increased by $4.0 billion, while average quarterly balances grew by $3.0 billion. The average deposit balance, excluding P.R. public deposits, increased by $1.2 billion. At the end of the second quarter of 2026, P.R. public deposits were $22.7 billion, representing 32% of total deposits. P.R. public deposits are expected to range between $20 billion and $22 billion through the end of 2026. However, the rate at which public deposit balances may change is uncertain and difficult to predict. The amount and timing of any such change is likely to be impacted by, for example, the level of federal assistance and speed at which it is distributed, the use of local funds to cover federal assistance programs during the U.S. government shutdown, the financial condition, liquidity and cash management practices of the Puerto Rico Government and its instrumentalities, and the implementation of fiscal and debt adjustment plans approved pursuant to PROMESA or other actions mandated by the Fiscal Oversight and Management Board for Puerto Rico (the “Oversight Board”) or by reductions in federal funding available for Puerto Rico. P.R. public deposits costs are generally indexed to changes in short-term market rates with a one-quarter lag, in accordance with contractual terms. As a result, these deposits’ costs have typically lagged variable asset repricing. These deposits require that the bank pledge high credit quality securities as collateral; therefore, liquidity risks arising from deposit outflows are lower. Total deposit costs, excluding P.R. public deposits, demonstrate the stability of core deposits, low cost and low betas. The volume and cost of P.R. public deposits and the proportion of high-cost deposits in the U.S. directly impact the balance and mix of earning assets and therefore represent a key factor in the Corporation’s ability to expand its net interest margin. 106 Table of Content Refer to Table 6 for a breakdown of the Corporation’s deposits at June 30, 2026 and December 31, 2025. Table 6 - Deposits Ending Balances (In thousands) June 30, 2026 December 31, 2025 Variance Deposits excluding P.R. public deposits: Demand deposits $15,085,454 $15,298,712 $(213,258) Savings, NOW and money market deposits (non-brokered) 23,376,410 22,655,936 720,474 Savings, NOW and money market deposits (brokered) 79,505 87,566 (8,061) Time deposits (non-brokered) 8,113,712 7,861,848 251,864 Time deposits (brokered CDs) 873,116 866,772 6,344 Sub-total deposits excluding P.R. public deposits 47,528,197 46,770,834 757,363 P.R. public deposits: Demand deposits [1] 11,438,732 11,534,301 (95,569) Savings, NOW and money market deposits (non-brokered) 10,347,936 7,134,217 3,213,719 Time deposits (non-brokered) 918,250 750,741 167,509 Sub-total P.R. public deposits 22,704,918 19,419,259 3,285,659 Total deposits $70,233,115 $66,190,093 $4,043,022 [1] Includes interest bearing demand deposits. Borrowings The Corporation’s borrowings totaled $1.5 billion at June 30, 2026 compared to $1.4 billion at December 31, 2025. Refer to Note 12 to the Consolidated Financial Statements for detailed information on the Corporation’s borrowings. Also, refer to the Liquidity section in this MD&A for additional information on the Corporation’s funding sources. Stockholders’ Equity Stockholders’ equity totaled $6.4 billion at June 30, 2026, an increase of $183.9 million when compared to December 31, 2025. The increase was principally due to net income for the six months ended June 30, 2026 of $523.9 million, the amortization of unrealized losses from securities previously reclassified to HTM of $72.6 million and a favorable variance in foreign currency translation adjustments of $22 million from our investment in BHD, partially offset by the after-tax effect of higher net unrealized losses in the AFS securities portfolio of $74.9 million and an increase in treasury stock of $277.9 million, mainly due to common stock repurchases, and common and preferred dividends declared of $97.5 million. Refer to the Consolidated Statements of Financial Condition, Comprehensive Income and Changes in Stockholders’ Equity for information on the composition of stockholders’ equity. During the six months ended June 30, 2026, Popular repurchased 1,988,767 shares of common stock for $280.5 million at an average price of $141.04 per share. The composition of the Corporation’s financing to total assets at June 30, 2026 and December 31, 2025 is included in Table 7. Table 7 - Financing to Total Assets June 30, December 31, % (decrease) increase % of total assets (Dollars in millions) 2026 2025 from 2026 to 2025 2026 2025 Non-interest-bearing core deposits $15,096 $15,304 (1.4)% 19.1% 20.3% Interest-bearing core deposits 49,039 46,017 6.6% 62.1% 61.1% Interest-bearing other deposits 6,098 4,869 25.2% 7.7% 6.4% Repurchase agreements 78 39 100.0% 0.1% 0.1% Other short-term borrowings 675 650 3.8% 0.9% 0.9% Notes payable 710 760 (6.6)% 0.9% 1.0% Other liabilities 843 1,460 (42.3)% 1.1% 1.9% Stockholders’ equity 6,433 6,249 2.9% 8.1% 8.3% CAPITAL Regulatory Capital The Corporation, BPPR and PB are subject to regulatory capital requirements established by the Federal Reserve Board. The risk-based capital standards applicable to the Corporation, BPPR and PB (“Basel III capital rules") are based on the final capital framework for strengthening international capital standards, known as Basel III, of the Basel Committee on Banking Supervision. As of June 30, 2026, the Corporation’s, BPPR’s and PB’s capital ratios continue to exceed the minimum requirements for being “well-capitalized". The risk-based capital ratios presented in Table 8, which include common equity tier 1, Tier 1 capital, total capital and leverage capital as of June 30, 2026 and December 31, 2025. 107 Table of Content Table 8 - Capital Adequacy Data (Dollars in thousands) June 30, 2026 December 31, 2025 Common equity tier 1 capital: Common stockholders' equity - U.S. GAAP basis $6,410,862 6,226,936 AOCI related adjustments due to opt-out election 1,096,276 1,096,805 Goodwill, net of associated deferred tax liability (DTL) (628,281) (639,734) Intangible assets, net of associated DTLs (4,308) (5,076) Deferred tax assets and other deductions (204,414) (215,404) Common equity tier 1 capital $6,670,135 $6,463,527 Additional tier 1 capital: Preferred stock 22,143 22,143 Additional tier 1 capital $22,143 $22,143 Tier 1 capital $6,692,278 $6,485,670 Tier 2 capital: Trust preferred securities subject to phase in as tier 2 192,674 192,674 Other inclusions (deductions), net 522,000 517,723 Tier 2 capital $714,674 $710,397 Total risk-based capital $7,406,952 $7,196,067 Minimum total capital requirement to be well capitalized $4,149,128 $4,112,375 Excess total capital over minimum well capitalized $3,257,824 $3,083,692 Total risk-weighted assets $41,491,279 $41,123,753 Total assets for leverage ratio $78,115,437 $74,661,894 Risk-based capital ratios: Common equity tier 1 capital 16.08% 15.72% Tier 1 capital 16.13 15.77 Total capital 17.85 17.50 Tier 1 leverage 8.57 8.69 The Basel III capital rules provide that a depository institution is deemed to be well capitalized if it maintains a leverage ratio of at least 5%, a common equity Tier 1 ratio of at least 6.5%, a Tier 1 capital ratio of at least 8% and a total risk-based ratio of at least 10%. The Corporation, BPPR and PB leverage ratio, common equity Tier 1 ratio and Tier 1 capital ratio, respectively as of June 30, 2026, continue to exceed the minimum requirements for being “well-capitalized" under the Basel III capital rules. The increase in the common equity Tier I capital ratio, Tier I capital ratio, and total capital ratio, as of June 30, 2026 as compared to December 31, 2025 was mainly due to the six month period's earnings, partially offset by the repurchase of common stock, common stock dividends, and higher risk weighted assets driven by the increase in loans held-in-portfolio. The decrease in the leverage ratio was driven by higher total assets which are impacted by zero-risk weighted assets that did not have a significant impact on the risk weighted assets, partially offset by the six month period's earnings. Reconciliation to Tangible Common Equity and Tangible Assets Table 9 provides a reconciliation of total stockholders’ equity to tangible common equity and total assets to tangible assets as of June 30, 2026, and December 31, 2025. 108 Table of Content Table 9 - Reconciliation of Tangible Common Equity and Tangible Assets (In thousands, except share or per share information) June 30, 2026 December 31, 2025 Total stockholders’ equity $6,433,005 $6,249,079 Less: Preferred stock (22,143) (22,143) Less: Goodwill (789,954) (789,954) Less: Other intangibles (4,308) (5,076) Total tangible common equity $5,616,600 $5,431,906 Total assets 78,972,300 75,348,267 Less: Goodwill (789,954) (789,954) Less: Other intangibles (4,308) (5,076) Total tangible assets $78,178,038 $74,553,237 Tangible common equity to tangible assets 7.18% 7.29% Common shares outstanding at end of period 63,866,681 65,719,385 Tangible book value per common share $87.94 $82.65 Quarterly average Total stockholders’ equity $6,354,694 $6,938,571 [1] Less: Preferred Stock (22,143) (22,143) Less: Goodwill (789,954) (789,954) Less: Other intangibles (4,559) (5,328) Total tangible equity before adjusting for the impact of unrealized (gains) losses on AFS securities including those transferred to HTM $5,538,038 $6,121,146 Return on average tangible common equity before adjusting the impact of unrealized (gains) losses on AFS securities including those transferred to HTM 20.12% 15.14% Add: Average unrealized (gains) losses on AFS securities 824,631 56,761 Add: Average unrealized (gains) losses on AFS securities transferred to HTM 184,136 259,058 Total tangible equity after add back of impact of unrealized (gains) losses on AFS securities, including those to HTM $6,546,805 $6,436,965 Return on average tangible common equity after add back of impact of unrealized (gains) losses on AFS securities including those transferred to HTM (''ROTCE'') 17.02% 14.39% [1] Average balances exclude unrealized gains or losses on debt securities available-for-sale. RISK MANAGEMENT Market / Interest Rate Risk The Corporation’s assets that are mainly subject to market valuation risk are debt securities classified as available-for-sale. Refer to Note 5 and Note 6 to the Consolidated Financial Statements for further information on the debt securities available-for-sale and held-to-maturity portfolios. Debt securities classified as available-for-sale and held-to-maturity amounted to $24.8 billion and $6.2 billion, respectively, as of June 30, 2026. Other assets subject to market risk include mortgage servicing rights ("MSRs") with a fair value of $94.5 million as of June 30, 2026. Interest Rate Risk (“IRR") The Corporation’s net interest income is subject to various categories of interest rate risk, including repricing, basis, yield curve and option risks. In managing interest rate risk, management may alter the mix of floating and fixed rate assets and liabilities, change pricing schedules, adjust maturities through sales and purchases of investment securities, and enter into derivative contracts, among other alternatives. Management utilizes various tools to assess IRR, including NII simulation modeling, static gap analysis, and Economic Value of Equity (“EVE") to monitor the risk arising from the dynamic characteristics of assets and liabilities subject to IRR. The three methodologies complement each other and are used jointly in the evaluation of the Corporation’s IRR. NII simulation modeling is prepared for a five-year period, which in conjunction with the EVE analysis, provides management a better view of long-term IRR. The Corporation processes NII simulations under interest rate scenarios in which the yield curve is assumed to rise and decline by the same magnitude (parallel shifts). The rate scenarios considered in these market risk simulations include instantaneous parallel changes of -100, -200, +100, and +200 basis points during the succeeding twelve-month period. Assumptions included in these analyses include that the balance sheet remains flat, relative levels of market interest rates across all yield curve points and indexes, interest rate spreads, loan prepayments and deposit elasticity. Thus, they should not be relied upon as indicative of actual results and do not contemplate actions that 109 Table of Content management may engage in as a response to future changes in interest rates. Additionally, the Corporation is also subject to the risk inherent in the use of different rate indexes for the repricing of assets and liabilities, as well as the risk of pricing lags due to contractual or timing differences between the market and management response to changes in the rate environment. These forward-looking computations are management’s best estimate based on known and available information and actual results may differ. The following table presents the results of the simulations at June 30, 2026 and December 31, 2025, assuming a static balance sheet and parallel changes over flat spot rates over a one-year time horizon: Table 10 - Net Interest Income Sensitivity (One Year Projection) June 30, 2026 December 31, 2025 (Dollars in thousands) Amount Change Percent Change Amount Change Percent Change Change in interest rate +200 basis points (10,913) (0.38) (7,520) (0.27) +100 basis points (5,586) (0.19) (4,379) (0.16) -100 basis points 5,040 0.17 2,691 0.10 -200 basis points 16,617 0.58 7,488 0.27 As of June 30, 2026, NII simulations showed that the Corporation’s sensitivity position was liability sensitive. The variation in results as compared to December 31, 2025, was mainly due to an increase in market-linked Puerto Rico public sector deposits, partly offset by an increase in U.S. Treasury Bills. The profile reflects that in rising rate scenarios, the Corporation's net interest income would slightly decline during the one-year horizon due mainly to the large proportion of market-linked Puerto Rico public sector deposits, offset in part by variable rate loan repricing and intermediate maturity assets coming due within one year. The Corporation’s loan and investment portfolios are subject to prepayment risk. Prepayment risk also could have a significant impact on the duration of mortgage-backed securities and collateralized mortgage obligations. Trading The Corporation engages in trading activities in the ordinary course of business at its subsidiaries, BPPR and Popular Securities. Popular Securities’ trading activities consist primarily of market-making activities to meet expected customers’ needs related to its retail brokerage business, and purchases and sales of U.S. Government and government sponsored securities with the objective of realizing gains from expected short-term price movements. BPPR’s trading activities consist primarily of holding U.S. Government sponsored mortgage-backed securities and economic hedges of the related market risk with “TBA” (to-be-announced) market transactions. In addition, BPPR uses forward contracts or TBAs that have characteristics similar to that of the forecasted security and its conversion timeline to hedge its securitization pipeline. At June 30, 2026, the Corporation held trading securities with a fair value of $31.2 million, representing 0.04% of the Corporation’s total assets, compared with $36.6 million and 0.05%, respectively, at December 31, 2025. The trading portfolio consists principally of investment grade securities such as mortgage-backed securities of $26.7 million with a weighted average yield of 5.04% and U.S. Treasuries of $3.7 million with a weighted average yield of 2.00% at June 30, 2026 and $23.4 million with a yield of 5.20% and $12.5 million with a yield of 2.57%, respectively, as of December 31, 2025. The Corporation’s trading activities are limited by internal policies. For each of the two subsidiaries, the market risk assumed under trading activities is measured by the 5-day net value-at-risk (“VAR"), with a confidence level of 99%. The VAR measures the maximum estimated loss that may occur over a 5-day holding period, given a 99% probability. The Corporation’s trading portfolio had a 5-day VAR of $0.4 million for the last week in June 2026. VAR models include assumptions and estimates thus actual results could differ from the outputs from these models and assumptions. Back-testing is performed on model results to compare actual results against maximum estimated losses, in order to evaluate model and assumptions accuracy. In the opinion of management, the size and composition of the trading portfolio does not represent a significant source of market risk for the Corporation. Liquidity Liquidity Risk Management Process The Corporation has adopted policies and limits to monitor the Corporation’s liquidity position and that of its banking subsidiaries. Refer to the Enterprise Risk Management section of Management’s Discussion and Analysis included in the 2025 Form 10-K for information on the framework in place to monitor, review, and approve policies to measure, limit and manage funding activities and strategies impacting liquidity risk. Additionally, contingency funding plans are used to model various stress events of different magnitudes that affect different time 110 Table of Content horizons, to assist management in evaluating the size of the liquidity buffers needed if those events occur. However, such models may not predict accurately how the market and customers might react to every event and are dependent on many assumptions. The objective of effective liquidity management is to ensure that the Corporation has sufficient liquidity to meet all its financial obligations, finance expected future growth, fund planned capital distributions and maintain a reasonable safety margin for cash needs under both normal and stressed market conditions. Sources of Liquidity Deposits, including customer deposits, brokered deposits and public funds deposits, continue to be the most significant source of funds for the Corporation, representing 89% of funding of the Corporation’s total assets as of June 30, 2026 and 88% as of December 31, 2025. The ratio of total ending loans to deposits remained at 57% at June 30, 2026 and 59% at December 31, 2025. In addition to traditional deposits, the Corporation maintains borrowing arrangements, which amounted to $1.5 billion in outstanding balances at June 30, 2026 (December 31, 2025 - $1.4 billion). A detailed description of the Corporation’s borrowings, including their terms, is included in Note 12 to the Consolidated Financial Statements. Also, the Consolidated Statements of Cash Flows in the accompanying Consolidated Financial Statements provide information on the Corporation’s cash inflows and outflows. The following sections provide further information on the Corporation’s major funding activities and needs, as well as the risks involved in these activities. Banking Subsidiaries Primary sources of funding for the Corporation’s banking subsidiaries (BPPR and PB or, collectively, “the banking subsidiaries") include retail, commercial and public sector deposits, brokered deposits, unpledged investment securities, mortgage loan securitization and, to a lesser extent, loan sales. In addition, the Corporation maintains borrowing facilities with the FHLB and at the discount window of the Federal Reserve Bank of New York (the “FRB") and has a considerable amount of collateral pledged that can be used to raise funds under these facilities. At June 30, 2026, the Corporation’s available liquidity decreased to $26.3 billion from $27.0 billion on December 31, 2025. During the second quarter of 2026, the Corporation continued to have significant on-balance sheet and off-balance sheet sources of liquidity. The liquidity sources of the Corporation at June 30, 2026 are presented in Table 11 below: Table 11 - Liquidity Sources June 30, 2026 December 31, 2025 (In thousands) BPPR Popular U.S. Total BPPR Popular U.S. Total Unpledged securities and unused funding sources: Money market (excess funds at the Federal Reserve Bank) $3,592,807 $952,701 $4,545,508 $3,595,806 $1,020,478 $4,616,284 Unpledged securities 4,997,192 742,829 5,740,021 5,215,981 1,057,129 6,273,110 FHLB borrowing capacity 3,138,834 972,928 4,111,762 3,291,672 692,744 3,984,416 Discount window of the Federal Reserve Bank borrowing capacity 8,108,977 3,814,202 11,923,179 8,472,866 3,644,486 12,117,352 Total available liquidity $19,837,810 $6,482,660 $26,320,470 $20,576,325 $6,414,837 $26,991,162 Refer to Note 15 to the Consolidated Financial Statements for additional information of the Corporation’s borrowing facilities available through its banking subsidiaries. The principal uses of funds for the banking subsidiaries include loan originations, investment portfolio purchases, loan purchases and repurchases, repayment of outstanding obligations (including deposits), advances on certain serviced portfolios and operational expenses. Also, the banking subsidiaries assume liquidity risk related to collateral posting requirements for certain activities mainly in connection with contractual commitments, recourse provisions, servicing advances, derivatives and credit card licensing agreements. The banking subsidiaries maintain sufficient funding capacity to address large increases in funding requirements such as deposit outflows. The Corporation has established liquidity guidelines that require the banking subsidiaries to have sufficient liquidity to cover all short-term borrowings and a portion of deposits. Deposits are a key source of funding. Refer to Table 6 for a breakdown of deposits by major types. Core deposits are generated from a large base of consumer, corporate and public sector customers. Core deposits include certificates of deposit under $250,000, all interest- bearing transactional deposit accounts, non-interest-bearing deposits, and savings deposits. Core deposits exclude brokered deposits and certificates of deposit over $250,000. Core deposits, excluding P.R. public funds, which are fully collateralized, have historically provided the 111 Table of Content Corporation with a sizable source of relatively stable and low-cost funds. P.R. public funds, while linked to market interest rates, provide a stable source of funding with an attractive earning spread. As of June 30, 2026, total Puerto Rico public sector deposits were $22.7 billion, compared to $19.4 billion at December 31, 2025. Core deposits represented 91% of total deposits at $64.1 billion, as of June 30, 2026, compared with 92% at $60.9 billion as of December 31, 2025. Core deposits financed 84% of the Corporation’s earning assets at June 30, 2026, compared to 85% at December 31, 2025. The distribution by maturity of certificates of deposit with denominations of $250,000 and over at June 30, 2026 is presented in the table that follows: Table 12 - Distribution by Maturity of Certificates of Deposit of $250,000 and Over (In thousands) 3 months or less $2,797,544 Over 3 to 12 months 1,059,243 Over 1 year to 3 years 317,536 Over 3 years 124,493 Total $4,298,816 The Corporation had $1.0 billion in brokered deposits at June 30, 2026, which financed approximately 1% of its total assets (December 31, 2025 - $1.0 billion and 1%, respectively). As of June 30, 2026, the banking subsidiaries had sufficient current and projected liquidity sources to meet their anticipated cash flow obligations, as well as special needs and off-balance sheet commitments, in the ordinary course of business and have sufficient liquidity resources to address a stress event. Although the banking subsidiaries have historically been able to replace maturing deposits and advances, no assurance can be given that they would be able to replace those funds in the future if the Corporation’s financial condition or general market conditions were to deteriorate. The Corporation’s financial flexibility would be severely constrained if the banking subsidiaries are unable to maintain access to funding or if adequate funding is not available to accommodate future financing needs at acceptable interest rates. The banking subsidiaries also are required to deposit cash or qualifying securities to meet margin requirements on repurchase agreements, deposit agreements and other collateralized borrowing facilities. To the extent that the value of securities previously pledged as collateral declines because of market changes, the Corporation will be required to deposit additional cash or securities to meet its margin or collateral requirements and would need to rely more heavily on alternative funding sources. In these scenarios, the Corporation’s financial flexibility and ability to grow revenues may not increase proportionately to cover costs and profitability would be adversely affected. The Corporation considers balances in excess of $250,000 to have a higher potential liquidity risk. Table 13 reflects the aggregate balance in deposit accounts in excess of $250,000, including collateralized public funds and deposits outside of the U.S. and its territories. Collateralized public funds, as presented in Table 13, represent public deposit balances from governmental entities in the U.S. and its territories, including Puerto Rico and the United States Virgin Islands, collateralized based on such jurisdictions’ applicable collateral requirements. Table 13 - Deposits (Dollars in thousands) June 30, 2026 BPPR % of Total Popular U.S. % of Total Popular, Inc.(Consolidated) % of Total Deposits: Deposits balances under $250,000 [1] $24,267,518 41% $8,245,018 69% $32,512,536 46% Transactional deposits balances over $250,000 8,048,585 14% 2,570,947 22% 10,619,532 15% Time deposits balances over $250,000 2,509,172 4% 677,263 6% 3,186,435 5% Uninsured foreign deposits 506,412 1% - -% 506,412 1% Collateralized public funds 23,144,085 40% 264,115 2% 23,408,200 33% Intercompany deposits 194,191 -% 173,438 1% - -% Total deposits $58,669,963 100% $11,930,781 100% $70,233,115 100% [1] Includes the first $250,000 in balances of transactional and time deposit accounts with balances in excess of $250,000. 112 Table of Content (Dollars in thousands) December 31, 2025 BPPR % of Total Popular U.S. % of Total Popular, Inc.(Consolidated) % of Total Deposits Deposits balances under $250,000 [1] $23,873,328 44% $8,283,967 69% $32,157,295 49% Transactional deposits balances over $250,000 8,254,961 15% 2,341,365 19% 10,596,326 16% Time deposits balances over $250,000 2,182,301 4% 794,183 7% 2,976,484 4% Uninsured foreign deposits 446,360 1% - -% 446,360 1% Collateralized public funds 19,748,934 36% 264,694 2% 20,013,628 30% Intercompany deposits 235,251 -% 349,483 3% - -% Total deposits $54,741,135 100% $12,033,692 100% $66,190,093 100% [1] Includes the first $250,000 in balances of transactional and time deposit accounts with balances in excess of $250,000. Bank Holding Companies The principal sources of funding for the BHCs, which are Popular, Inc. (holding company only) and PNA, include cash on hand, investment securities, dividends received from banking and non-banking subsidiaries, asset sales, credit facilities available from affiliate banking subsidiaries and proceeds from potential securities offerings. Dividends from banking and non-banking subsidiaries are subject to various regulatory limits and authorization requirements imposed by banking regulators, including the FED and the NYDFS, that may limit the ability of those subsidiaries to act as a source of funding to the BHCs. The principal uses of these funds include the repayment of debt, interest payments to holders of senior debt and junior subordinated deferrable interest debentures (related to trust preferred securities), the payment of dividends to common stockholders, repurchases of the Corporation’s securities and capitalizing its subsidiaries. The outstanding balance of notes payable at the BHCs amounted to $595.7 million at June 30, 2026 and $595.0 million December 31, 2025. The contractual maturities of the BHCs notes payable at June 30, 2026 are presented in Table 14. Table 14 - Distribution of BHC's Notes Payable by Contractual Maturity Year (In thousands) 2028 $397,277 Later years 198,413 Total $595,690 As of June 30, 2026, the BHCs had cash and money markets investments totaling $316 million and borrowing potential of $165 million from its secured facility with BPPR. The BHCs’ liquidity position continues to be adequate with sufficient cash on hand, investments and other sources of liquidity that are expected to be sufficient to meet all interest payments and dividend obligations for the foreseeable future. Additionally, the Corporation’s latest quarterly paid dividend was $0.75 per share or approximately $48.1 million per quarter. The BHCs have in the past borrowed in the corporate debt market primarily to finance their non-banking subsidiaries and refinance debt obligations. These sources of funding are more costly given that two out of three principal credit rating agencies rate the Corporation’s debt securities below “investment grade". The Corporation has a shelf registration statement filed and effective with the Securities and Exchange Commission, which permits the Corporation to issue an unspecified amount of debt or equity securities. Non-Banking Subsidiaries The principal sources of funding for the non-banking subsidiaries include internally generated cash flows from operations, loan sales, repurchase agreements, capital injections and borrowed funds from their direct parent companies or the holding companies. The principal uses of funds for the non-banking subsidiaries include repayment of maturing debt, operational expenses and payment of dividends to the BHCs. Dividends During the six months ended June 30, 2026, the Corporation declared cash dividends of $1.50 per common share outstanding ($96.8 million in the aggregate). The dividends for the Corporation’s Series A preferred stock amounted to $0.7 million for the six months ended on June 30, 2026. On July 23, 2026, the Corporation announced an increase in its quarterly common stock dividend from $0.75 to $0.90 per share, commencing with the dividend payable in the fourth quarter of 2026, subject to the approval by the Corporation’s Board of Directors. 113 Table of Content During the six months ended June 30, 2026, the BHCs received dividends and distributions amounting to $175 million from BPPR and $30 million from its other non-banking subsidiaries. Dividends from BPPR constitute Popular, Inc.’s primary source of liquidity. In addition, during the six months ended June 30, 2026, PIBI, a wholly owned subsidiary of Popular, Inc., had no dividends. In addition to regulatory limits previously discussed, the ability of a bank subsidiary to up-stream dividends to its BHC could be impacted by its financial performance and capital, including tangible and regulatory capital, thus potentially limiting the amount of cash up-streamed to the BHCs from the banking subsidiaries. This could, in turn, affect BHC’s ability to declare dividends on its outstanding common and preferred stock, repurchase its securities or meet its debt obligations, for example. At June 30, 2026, BPPR could declare a dividend of up to approximately $237 million without prior approval of the Federal Reserve Board due to its retained income, declared dividend activity and transfers to statutory reserves over the measurement period. In addition, pursuant to the FRB requirements, PB may not declare or pay a dividend without the prior approval of the Federal Reserve Board and the NYSDFS. Other Funding Sources and Capital In addition to cash reserves held at the FRB that totaled $4.6 billion at June 30, 2026, the debt securities portfolio provides an additional source of liquidity, which may be realized through either securities sales, collateralized borrowings or repurchase agreements. The Corporation’s debt securities portfolio consists primarily of liquid U.S. government debt securities, U.S. government sponsored agency debt securities, U.S. government sponsored agency mortgage-backed securities, and U.S. government sponsored agency collateralized mortgage obligations that can be used to raise funds in the repo markets. The availability of repurchase agreements would be subject to having sufficient unpledged collateral available at the time the transactions are consummated, in addition to overall liquidity and risk appetite of the various counterparties. Refer to Table 11 for details of the Corporation’s unpledged debt securities and available credit facilities with the FHLB and the discount window of the Federal Reserve Bank. A substantial portion of these debt securities could be used to raise financing in the U.S. money markets or from secured lending sources, subject to changes in their fair market value and customary adjustments (haircuts). Additional liquidity may be provided through loan maturities, prepayments and sales. The loan portfolio provides a source of collateral to secure the available credit facilities with the FHLB and the discount window of the Federal Reserve Bank. The loan portfolio can also be used to obtain funding in the capital markets. Mortgage loans and some types of consumer loans, have secondary markets which the Corporation could use. Off-Balance Sheet Arrangements and Other Commitments In the ordinary course of business, the Corporation engages in financial transactions that are not recorded on the balance sheet or may be recorded on the balance sheet in amounts that are different than the full contract or notional amount of the transaction. As a provider of financial services, the Corporation routinely enters into commitments with off-balance sheet risk to meet the financial needs of its customers. Refer to Note 16 to the Consolidated Financial Statements for information on the Corporation’s commitments to extend credit and other non-credit commitments. Other types of off-balance sheet arrangements that the Corporation enters in the ordinary course of business include derivatives, operating leases and provision of guarantees, indemnifications, and representation and warranties. Refer Note 15 to the Consolidated Financial Statements for a detailed discussion related to the Corporation’s guarantees, indemnifications obligations, and representation and warranties arrangements. The Corporation monitors its cash requirements, including its contractual obligations and debt commitments. Financial Information of Guarantor and Issuers of Registered Guaranteed Securities The principal sources of funding for Popular, Inc. Holding Company (“PIHC”) and Popular North America, Inc. (“PNA”) have included dividends received from their banking and non-banking subsidiaries subject to statutory provisions that limit dividends paid by the banking subsidiary without regulatory approval, asset sales and proceeds from the issuance of debt and equity. The Corporation (''PIHC”) is the parent holding company of Popular North America (“PNA") and operates financial services through its subsidiaries. PNA, a wholly owned subsidiary of Popular, Inc., manages entities such as Equity One, Inc., and PB, including PB’s subsidiaries: Popular Equipment Finance, LLC, Popular Insurance Agency, U.S.A., and E-LOAN, Inc. PNA has issued junior subordinated debentures guaranteed by PIHC (the “obligor group"), purchased by statutory trusts established by the Corporation using proceeds from trust preferred securities (“capital securities”) and common securities of the trusts. PIHC guarantees the junior subordinated debentures issued by PNA. If PIHC fails to make interest payments on the debentures held by the trust, the trust will not distribute payments on the capital securities. The guarantee ranks subordinate and junior in right of payment to all other liabilities of PIHC and equally with all other PIHC-issued guarantees, allowing direct legal action against PIHC without involving other entities. 114 Table of Content Funding for PIHC and PNA includes dividends from subsidiaries, asset sales, and proceeds from debt and equity issuance. Statutory provisions limit the dividends an insured depository institution can pay to its holding company without regulatory approval. The summarized financial information below shows the combined financial position of the obligor group as of June 30, 2026 and December 31, 2025, and the results of their operations for the six-month periods ended June 30, 2026 and June 30, 2025. Excluded are investments and equity in earnings from subsidiaries and affiliates outside the obligor group. Intercompany balances and transactions within the obligor group have been eliminated. Material amounts due from, due to, and transactions with subsidiaries and affiliates are shown separately. Related party transactions are also presented separately. Table 15 - Summarized Statement of Condition (In thousands) June 30, 2026 December 31, 2025 Assets Cash and money market investments $316,104 $524,882 Investment securities 41,892 38,656 Accounts receivables from non-obligor subsidiaries 23,337 12,798 Other loans (net of allowance for credit losses of $67 (2025 - $132)) 23,528 24,169 Investment in equity method investees 5,145 5,145 Other assets 103,711 91,618 Total assets $513,717 $697,268 Liabilities and Stockholders' deficit Accounts payable to non-obligor subsidiaries $9,284 $7,669 Notes payable 595,690 594,958 Other liabilities 124,882 135,785 Stockholders' deficit (216,139) (41,144) Total liabilities and stockholders' deficit $513,717 $697,268 Table 16 - Summarized Statement of Operations For the period ended (In thousands) June 30, 2026 June 30, 2025 Income: Dividends from non-obligor subsidiaries $205,000 $215,100 Interest income from non-obligor subsidiaries and affiliates 1,554 2,248 Earnings from investments in equity method investees - 1 Other operating income 3,073 6,155 Total income $209,627 $223,504 Expenses: Services provided by non-obligor subsidiaries and affiliates (net of reimbursement by subsidiaries for services provided by parent of $133,928 (2025 - $127,054)) $9,941 $7,739 Other expenses 11,598 14,359 Income tax (benefit) expense (613) 5,952 Total expenses $20,926 $28,050 Net income $188,701 $195,454 In addition to the dividend income reflected in the Statement of Operations table above, during the six months ended June 30, 2025, the obligor group recorded a $23.0 million of capital distributions from non-obligor subsidiary which was recorded as a reduction to the investment. Risk to Liquidity The Corporation’s liquidity may come under pressure if it experiences significant unexpected cash outflows due to deposit withdrawals, which could arise from various factors like economic conditions, loss of depositor confidence, competition, exogenous events, regulatory requirements or changes, a downgrade in credit rating, or other events causing counterparties to avoid exposure. Investors should refer to Liquidity Risks section of “Part I, Item 1 A" of 2025 Form 10-K for an additional discussion of liquidity risks to which the Corporation is subject. Credit Risk Geographic and Government Risk The Corporation is exposed to geographic and government risk. The Corporation’s assets and revenue composition by geographical area and by business segment reporting are presented in Note 26 to the Consolidated Financial Statements. Readers should refer to Economic and Market Risk section and Business Risk Section of “Part I, Item 1A” of the 2025 Form 10-K for an additional discussion on how the 115 Table of Content Corporation is impacted by global and local economic and market conditions, including weakness in the economy, particularly in Puerto Rico, where a significant portion of our business is concentrated. This section also addresses how our credit risk and credit losses can increase to the extent our loans are concentrated on borrowers engaged in the same or similar activities or in borrowers who as a group may be uniquely or disproportionately affected by certain economic or market conditions. Commonwealth of Puerto Rico A significant portion of our financial activities and credit exposure is concentrated in the Commonwealth of Puerto Rico (“Puerto Rico") which has faced severe economic and fiscal challenges in the past and may face additional challenges in the future. Economic Performance Based on the latest estimates of the Puerto Rico Planning Board, real GNP in Puerto Rico is projected to have grown by 0.4% in fiscal year 2026 (July 2025-June 2026) and by 0.3% in fiscal year 2027 (July 2026-June 2027). Meanwhile, the Puerto Rico Economic Activity Index reflected a 0.7% year-over-year decrease in May 2026. While this index is not a direct measure of real GNP, it serves as an indicator of ongoing economic activity. In 2021 and 2022, inflation rose sharply in the U.S. and Puerto Rico due to post-pandemic demand and supply chain disruptions. Inflation began to decrease by mid-2022 as the Federal Reserve raised interest rates, largely stabilizing by September 2024, leading to a series of rate reductions by the Federal Reserve for the first time in four years. As of June 2026, the U.S. Consumer Price Index reflected a 3.5% year-over-year increase, which, while below peak 2022 levels, remains above the Federal Reserve’s 2% target. The annual rate of inflation has increased since February 2026 (2.4%), primarily driven by higher energy and gasoline prices resulting from the recent geopolitical conflict involving Iran. In Puerto Rico, the Consumer Price Index reflected a year-over-year increase of 4.6% in May 2026, up from 4% in April 2026. The full the extent to which the conflict in Iran may impact the global and Puerto Rico economies has yet to be determined. Fiscal Challenges of Puerto Rico and its Municipalities As Puerto Rico’s economy contracted in the 2000s, public debt increased rapidly due to borrowing to cover deficits to pay debt service, pension benefits, and other expenditures. By 2016, the government had over $120 billion in combined debt and unfunded pension liabilities, lost access to capital markets, and faced a fiscal crisis. In response, the U.S. Congress enacted PROMESA in June 2016. PROMESA established an Oversight Board with significant control over Puerto Rico’s fiscal and economic affairs, including those of its public corporations, instrumentalities and municipalities (collectively, “PR Government Entities”). In August 2025, President Donald J. Trump dismissed six of the seven members of the Oversight Board, reportedly due to inefficient leadership and excessive spending. Three of the dismissed members subsequently filed suit in federal court challenging the legality of their dismissal. On October 3, 2025, the court issued a preliminary injunction that effectively reinstated such members and barred the seating of replacement members while the case proceeds. Such ruling was appealed to the United States Court of Appeals for the First Circuit on December 3, 2025, and the appeal remains pending. It is still too early to determine what impact these developments may have on Puerto Rico’s fiscal and economic affairs. Under PROMESA, the Oversight Board will remain in place until market access is restored and balanced budgets are achieved for at least four consecutive years. PROMESA also established two mechanisms for the restructuring of the obligations of PR Government Entities: (a) Title III, an in-court process akin to that of the U.S. Bankruptcy Code and which permits adjustment of a broad range of obligations, and (b) Title VI, a largely out-of-court process through which a supermajority of creditors can accept modifications to debt and bind holdouts. Since 2017, Puerto Rico and several of its instrumentalities have availed themselves of these mechanisms. The Puerto Rico government exited Title III in March 2022, and several instrumentalities, such as the Government Development Bank and the Puerto Rico Highways and Transportation Authority have also completed debt restructurings under Titles III or VI of PROMESA. However, the Puerto Rico Electric Power Authority is still undergoing its debt restructuring. Puerto Rico's economic difficulties have also impacted its municipalities. Historically, the central government provided significant municipal subsidies. However, these have decreased pursuant to fiscal measures required by the Oversight Board. This decline has been partly offset by federal disaster and COVID-relief funding received by municipalities in recent years. The latest Puerto Rico fiscal plan proposes a restructured grant system to enhance municipal services and encourage accountability through performance metrics. Municipalities are subject to PROMESA, and the Oversight Board has required certain municipalities to submit fiscal plans and annual budgets for review and approval. Municipalities are also required to seek Oversight Board approval to issue, guarantee or modify their debts and to enter into significant contracts. To date no municipality has availed itself of the debt restructuring mechanisms available to them under PROMESA. 116 Table of Content Exposure of the Corporation The credit quality of BPPR’s loan portfolio is closely tied to the economic conditions in Puerto Rico. Deterioration in the Puerto Rico economy could potentially increase delinquencies and charge-offs, thereby impacting the Corporation’s financial health. The Corporation has direct exposure to P.R. Government Entities, which are mainly concentrated in obligations from various Puerto Rico municipalities. Additionally, the Corporation holds loans and securities insured by P.R. Government Entities, such as the Housing Finance Authority, whose ability to honor guarantees depends on its financial condition. BPPR’s commercial, mortgage, and consumer loan portfolios are also exposed to risks from private borrowers who are service providers or have other relationships with the Puerto Rico government and government employees who could be negatively affected by Puerto Rico’s fiscal challenges. For further discussion of the Corporation’s direct and indirect exposure to the Puerto Rico government and its instrumentalities and municipalities, please refer to Note 16 – Commitments and Contingencies to the Consolidated Financial Statements. The Corporation also maintains significant deposits from P.R. Government Entities, with future balances subject to various uncertainties. Further information on Puerto Rico Government deposits is included in Note 11 – Deposits to the Consolidated Financial Statements. United States Virgin Islands The Corporation has operations in the United States Virgin Islands (the “USVI”) and has credit exposure to USVI government entities. For further discussion of the Corporation’s direct and indirect exposure to USVI government entities, please refer to Note 16. Non-Performing Assets ("NPAs") NPAs include primarily past-due loans that are no longer accruing interest, renegotiated loans, and real estate property acquired through foreclosure. A summary, including certain credit quality metrics, is presented in Table 17. During the second quarter of 2026, the Corporation’s overall credit quality metrics remained stable. The quarter included the resolution of a significant $155.0 million non-performing commercial relationship, which resulted in a $71.3 million charge-off and the transfer of the remaining $83.7 million carrying amount to loans held-for-sale ("LHFS"). Consumer credit performance continued to improve, supported by lower losses in the auto portfolio. Commercial NPL inflows increased during the quarter, driven by borrower-specific issues that management does not view as indicative of broader credit deterioration. Total NPAs of $546.7 million as of June 30, 2026 increased by $5.9 million when compared with December 31, 2025. Total NPLs of $413.4 million decreased by $84.9 million from December 31, 2025. BPPR’s NPLs decreased by $90.9 million, primarily driven by reductions in commercial and consumer NPLs of $64.5 million and $21.2 million, respectively. The decline in the commercial NPLs reflects the resolution of a $155.0 million relationship, described above. The loan was subsequently sold on July 2, 2026. The decrease resulting from the reclassification of the loan previously mentioned was partially offset by the inflows to commercial NPLs of two unrelated commercial and industrial relationships of $129 million in the aggregate. These inflows to commercial NPLs stemmed from issues specific to the individual borrowers and are not indicative of a broader decline in portfolio credit quality or the industries in which the borrowers operate. Popular U.S. NPLs increased by $6.0 million, mostly driven by higher commercial NPLs by $9.2 million, offset in part by a decrease of $3.2 million in the mortgage NPLs. On June 30, 2026, the ratio of NPLs to total loans held-in-portfolio was 1.04%, compared to 1.27% on December 31, 2025. Other real estate owned loans (“OREOs”) totaled $49.6 million, an increase of $7.1 million from December 31, 2025. The Corporation’s commercial loan portfolio secured by real estate (“CRE’’) amounted to $11.3 billion on June 30, 2026, with $3.3 billion secured by owner-occupied properties (December 31, 2025 - $11.2 billion and $3.2 billion, respectively). CRE NPLs amounted to $66.1 million on June 30, 2026, compared with $76.0 million on December 31, 2025. The CRE NPL ratios for the BPPR and Popular U.S. segments were 0.86% and 0.38%, respectively, on June 30, 2026, compared with 1.23% and 0.25%, respectively, on December 31, 2025. The non-owner occupied CRE portfolio was $5.6 billion at June 30, 2026, split between $3.3 billion in BPPR and $2.3 billion in Popular U.S. This portfolio is diversified across sectors: retail (32%), hotels (19%), and office space (12%) which together represent two-thirds of total non-owner occupied CRE exposure. Specifically, office space leasing accounts for just 1.7% ($673.6 million) of the total loan portfolio, mainly comprising mid-rise properties with an average loan size of $2.4 million, and is well diversified by tenant type. Within CRE, the commercial multi-family portfolio is $2.4 billion (approximately 6% of total loans), concentrated in New York Metro ($1.3 billion), South Florida ($651.9 million) and Puerto Rico ($242.0 million) regions. In the New York Metro, there is no exposure to rent- controlled buildings and rent-stabilized units make up less than 40% of total units, with most originated after 2019. In addition to the NPLs included in Table 18, on June 30, 2026, there were $407.8 million of performing loans, mostly commercial loans, which in management’s opinion, are currently subject to potential future classification as non-performing (December 31, 2025 - $499.6 million). 117 Table of Content Table 17 - Non-Performing Assets (Dollars in thousands) June 30, 2026 December 31, 2025 BPPR PopularU.S. Popular,Inc. As a % ofloans HIP bycategory BPPR PopularU.S. Popular,Inc. As a % ofloans HIP bycategory Commercial Commercial multi-family $- $8,931 $8,931 0.4% $112 $8,636 $8,748 0.4% Commercial real estate non-owner occupied 26,016 6,950 32,966 0.6 35,692 7,020 42,712 0.8 Commercial real estate owner occupied 15,374 8,865 24,239 0.7 24,567 - 24,567 0.8 Commercial and industrial 138,389 6,563 144,952 1.7 183,914 6,498 190,412 2.2 Total Commercial 179,779 31,309 211,088 1.1 244,285 22,154 266,439 1.3 Leasing 7,182 - 7,182 0.4 9,179 - 9,179 0.5 Mortgage 129,240 10,233 139,473 1.6 132,373 13,422 145,795 1.7 Consumer Home equity lines of credit - 3,320 3,320 3.9 - 2,796 2,796 3.6 Personal 16,605 751 17,356 0.9 18,863 1,233 20,096 1.1 Auto 31,474 - 31,474 0.8 52,200 - 52,200 1.4 Other 3,544 - 3,544 2.0 1,809 29 1,838 1.0 Total Consumer 51,623 4,071 55,694 0.8 72,872 4,058 76,930 1.1 Total non-performing loans held-in- portfolio 367,824 45,613 413,437 1.0 458,709 39,634 498,343 1.3 Non-performing loans held-for-sale 83,700 - 83,700 - - - Other real estate owned (“OREO”) 49,093 464 49,557 41,929 504 42,433 Total non-performing assets $500,617 $46,077 $546,694 $500,638 $40,138 $540,776 Accruing loans past due 90 days or more[1] $219,748 $175 $219,923 $228,772 $188 $228,960 Ratios: Non-performing assets to total assets 0.80% 0.28% 0.69% 0.85% 0.25% 0.72% Non-performing loans held-in-portfolio to loans held-in-portfolio 1.31 0.39 1.04 1.66 0.34 1.27 Allowance for credit losses to loans held-in-portfolio 2.47 0.79 1.97 2.60 0.77 2.05 Allowance for credit losses to non-performing loans, excluding held-for-sale 188.21 202.89 189.83 156.51 227.42 162.15 [1] It is the Corporation’s policy to report delinquent residential mortgage loans insured by FHA or guaranteed by the VA as accruing loans past due 90 days or more as opposed to non-performing since the principal repayment is insured. These balances include $40 million of residential mortgage loans insured by FHA or guaranteed by the VA that are no longer accruing interest as of June 30, 2026 (December 31, 2025 - $47 million). Furthermore, the Corporation has $25 million in reverse mortgage loans which are guaranteed by FHA, but which are currently not accruing interest. Due to the guaranteed nature of the loans, it is the Corporation’s policy to exclude these balances from non-performing assets (December 31, 2025 - $27 million). For the quarter ended June 30, 2026, total inflows of NPLs held-in-portfolio, excluding consumer loans, increased by $145.3 million, when compared to the inflows for the same period in 2025. Inflows of NPLs held-in-portfolio at the BPPR segment increased by $135.0 million, compared to the same period in 2025, mainly driven by higher commercial NPL inflows by $134.3 million. Inflows of NPLs held-in-portfolio at the Popular U.S. segment increased by $10.8 million from the same period in 2025, driven by higher commercial NPL inflows of the same amount. 118 Table of Content Table 18 to Table 23 present the Corporation’s inflows to NPLs for the quarters and six months ended June 30, 2026 and 2025. Table 18 - Activity in Non-Performing Loans Held-in-Portfolio (Excluding Consumer Loans) For the quarter ended June 30, 2026 For the six months ended June 30, 2026 (Dollars in thousands) BPPR Popular U.S. Popular, Inc. BPPR Popular U.S. Popular, Inc. Beginning balance $356,009 $34,173 $390,182 $376,658 $35,576 $412,234 Plus: New non-performing loans 166,759 19,633 186,392 210,220 25,366 235,586 Advances on existing non-performing loans - 66 66 247 247 Less: Non-performing loans transferred to OREO (2,286) - (2,286) (5,397) - (5,397) Non-performing loans charged-off (72,916) (1,580) (74,496) (85,117) (1,604) (86,721) Loans returned to accrual status / loan collections (54,847) (10,750) (65,597) (103,645) (18,043) (121,688) Loans transferred to held-for-sale (83,700) - (83,700) (83,700) - (83,700) Ending balance NPLs $309,019 $41,542 $350,561 $309,019 $41,542 $350,561 Table 19 - Activity in Non-Performing Loans Held-in-Portfolio (Excluding Consumer Loans) For the quarter ended June 30, 2025 For the six months ended June 30, 2025 (Dollars in thousands) BPPR Popular U.S. Popular, Inc. BPPR Popular U.S. Popular, Inc. Beginning balance $191,103 $46,594 $237,697 $209,543 $53,544 $263,087 Plus: New non-performing loans 32,205 8,909 41,114 69,228 17,067 86,295 Advances on existing non-performing loans - 20 20 - 38 38 Less: Non-performing loans transferred to OREO (2,385) (433) (2,818) (4,940) (433) (5,373) Non-performing loans charged-off (790) (583) (1,373) (1,717) (1,713) (3,430) Loans returned to accrual status / loan collections (30,503) (4,744) (35,247) (82,484) (18,740) (101,224) Ending balance NPLs $189,630 $49,763 $239,393 $189,630 $49,763 $239,393 Table 20 - Activity in Non-Performing Commercial Loans Held-in-Portfolio For the quarter ended June 30, 2026 For the six months ended June 30, 2026 (Dollars in thousands) BPPR Popular U.S. Popular, Inc. BPPR Popular U.S. Popular, Inc. Beginning balance $226,642 $24,473 $251,115 $244,285 $22,154 $266,439 Plus: New non-performing loans 136,095 16,382 152,477 141,099 19,587 160,686 Advances on existing non-performing loans - 62 62 - 232 232 Less: Non-performing loans transferred to OREO (301) - (301) (951) - (951) Non-performing loans charged-off (73,035) (1,571) (74,606) (84,696) (1,574) (86,270) Loans returned to accrual status / loan collections (25,922) (8,037) (33,959) (36,258) (9,090) (45,348) Loans transferred to held-for-sale (83,700) - (83,700) (83,700) - (83,700) Ending balance NPLs $179,779 $31,309 $211,088 $179,779 $31,309 $211,088 Table 21 - Activity in Non-Performing Commercial Loans Held-in-Portfolio For the quarter ended June 30, 2025 For the six months ended June 30, 2025 (Dollars in thousands) BPPR Popular U.S. Popular, Inc. BPPR Popular U.S. Popular, Inc. Beginning balance $42,597 $17,507 $60,104 $51,101 $23,654 $74,755 Plus: New non-performing loans 1,768 5,632 7,400 7,549 11,045 18,594 Advances on existing non-performing loans - 20 20 - 37 37 Less: Non-performing loans transferred to OREO (140) - (140) (260) - (260) Non-performing loans charged-off (403) (583) (986) (1,142) (1,713) (2,855) Loans returned to accrual status / loan collections (1,656) (865) (2,521) (15,082) (11,312) (26,394) Ending balance NPLs $42,166 $21,711 $63,877 $42,166 $21,711 $63,877 119 Table of Content Table 22 - Activity in Non-Performing Mortgage Loans Held-in-Portfolio For the quarter ended June 30, 2026 For the six months ended June 30, 2026 (Dollars in thousands) BPPR Popular U.S. Popular, Inc. BPPR Popular U.S. Popular, Inc. Beginning balance $129,367 $9,700 $139,067 $132,373 $13,422 $145,795 Plus: New non-performing loans 30,664 3,251 33,915 69,121 5,779 74,900 Advances on existing non-performing loans - 4 4 - 15 15 Less: Non-performing loans transferred to OREO (1,985) - (1,985) (4,446) - (4,446) Non-performing loans charged-off 119 (9) 110 (421) (30) (451) Loans returned to accrual status / loan collections (28,925) (2,713) (31,638) (67,387) (8,953) (76,340) Ending balance NPLs $129,240 $10,233 $139,473 $129,240 $10,233 $139,473 Table 23 - Activity in Non-Performing Mortgage Loans Held-in-Portfolio For the quarter ended June 30, 2025 For the six months ended June 30, 2025 (Dollars in thousands) BPPR Popular U.S. Popular, Inc. BPPR Popular U.S. Popular, Inc. Beginning balance $148,506 $29,087 $177,593 $158,442 $29,890 $188,332 Plus: New non-performing loans 30,437 3,277 33,714 61,679 6,022 67,701 Advances on existing non-performing loans - - - - 1 1 Less: Non-performing loans transferred to OREO (2,245) (433) (2,678) (4,680) (433) (5,113) Non-performing loans charged-off (387) - (387) (575) - (575) Loans returned to accrual status / loan collections (28,847) (3,879) (32,726) (67,402) (7,428) (74,830) Ending balance NPLs $147,464 $28,052 $175,516 $147,464 $28,052 $175,516 120 Table of Content Loan Delinquencies Another key measure used to evaluate and monitor the Corporation’s asset quality is loan delinquencies. Loans delinquent 30 days or more, as a percentage of their related portfolio category on June 30, 2026 and December 31, 2025, are presented below. Table 24 - Loan Delinquencies (Dollars in thousands) June 30, 2026 December 31, 2025 Loans delinquent30 days or more Total loans Total delinquenciesas a percentageof total loans Loans delinquent30 days or more Total loans Total delinquenciesas a percentageof total loans Commercial Commercial multi-family $24,820 $2,399,424 1.03% $24,982 $2,455,790 1.02% Commercial real estate non-owner occupied 40,867 5,620,875 0.73 47,068 5,543,284 0.85 Commercial real estate owner occupied 28,724 3,256,702 0.88 28,008 3,153,080 0.89 Commercial and industrial 162,561 8,774,084 1.85 215,068 8,607,412 2.50 Total Commercial 256,972 20,051,085 1.28 315,126 19,759,566 1.59 Construction 12,491 1,732,075 0.72 17,283 1,674,899 1.03 Mortgage Mortgage insured [1] 403,239 3,406,774 11.84 429,796 3,166,679 13.57 Mortgage uninsured 267,706 5,373,560 4.98 329,504 5,482,761 6.01 Total Mortgage 670,945 8,780,334 7.64 759,300 8,649,440 8.78 Leasing 35,089 1,968,035 1.78 37,567 2,001,365 1.88 Consumer Credit cards 43,913 1,237,997 3.55 51,846 1,256,717 4.13 Home equity lines of credit 4,351 85,357 5.10 4,160 78,692 5.29 Personal 47,098 1,952,725 2.41 53,632 1,906,228 2.81 Auto 150,791 3,766,648 4.00 186,798 3,819,812 4.89 Other 5,433 175,606 3.09 5,929 180,799 3.28 Total Consumer 251,586 7,218,333 3.49 302,365 7,242,248 4.18 Loans held-for-sale 83,700 88,579 94.49 - 9,998 — Total $1,310,783 $39,838,441 3.29% $1,431,641 $39,337,516 3.64% [1] Loans that carry certain guarantees from FHA or the VA. Refer to Note 7 to the Consolidated Financial Statements for additional information of guaranteed loans. Allowance for Credit Losses Loans Held-in-Portfolio The ACL represents management’s estimate of expected credit losses through the remaining contractual life of the different loan segments, impacted by expected prepayments. The ACL is maintained at a sufficient level to provide for estimated credit losses on collateral dependent loans as well as loans modified for borrowers with financial difficulties separately from the remainder of the loan portfolio. The Corporation’s management evaluates the adequacy of the ACL on a quarterly basis. In this evaluation, management considers current conditions, macroeconomic economic expectations through a reasonable and supportable period, historical loss experience, portfolio composition by loan type and risk characteristics, results of periodic credit reviews of individual loans, and regulatory requirements, amongst other factors. The Corporation must rely on estimates and exercise judgment regarding matters where the ultimate outcome is unknown, such as economic developments affecting specific customers, industries, or markets. Other factors that can affect management’s estimates are recalibration of statistical models used to calculate lifetime expected losses, changes in underwriting standards, financial accounting standards and loan impairment measurements, among others. Changes in the financial condition of individual borrowers, in economic conditions, and in the condition of the various markets in which collateral may be sold, may also affect the required level of the allowance for credit losses. Consequently, the business financial condition, liquidity, capital, and results of operations could also be affected. On June 30, 2026, the ACL amounted to $784.8 million, a decrease of $23.2 million from December 31, 2025. The decline primarily reflects improvement in consumer credit performance and favorable portfolio and macroeconomic developments. The ACL for BPPR decreased by $25.6 million as of June 30, 2026, compared to December 31, 2025. The decline was primarily due to a $24.7 million reduction in reserves for consumer loans, mainly driven by improved credit quality in the auto and credit card portfolios. The reserve for commercial loans remained flat from December 31, 2025, reflecting the transfer to LHFS of the $155.0 million NPL and related $71.3 million charge-off, partially offset by higher reserves associated with NPL inflows during the quarter and loan growth. In PB, the ACL as of June 30, 2026 remained stable at $92.5 million. 121 Table of Content The Corporation’s ratio of the allowance for credit losses to loans held-in-portfolio was 1.97% on June 30, 2026, compared to 2.05% on December 31, 2025. The ratio of the ACL to NPLs held-in-portfolio stood at 189.8%, compared to 162.1% on December 31, 2025. Refer to Note 8 to the Consolidated Financial Statements, for additional information on the Corporation’s methodology to estimate its ACL, including probability weights assigned. Tables 25 and 26 detail the allowance for credit losses by loan categories and the percentage it represents of total loans held-in- portfolio and NPLs. The breakdown is made for analytical purposes, and it is not necessarily indicative of the categories in which future loan losses may occur. Table 25 - Allowance for Credit Losses - Loan Portfolios June 30, 2026 (Dollars in thousands) Total ACL Total loans held-in-portfolio ACL to loans held- in-portfolio Total non-performing loansheld-in-portfolio ACL to non-performing loansheld-in-portfolio Commercial Commercial multi-family $18,919 $2,399,424 0.79% $8,931 211.84% Commercial real estate non-owner occupied 55,810 5,620,875 0.99% 32,966 169.30% Commercial real estate owner occupied 52,639 3,256,702 1.62% 24,239 217.17% Commercial and industrial 185,396 8,774,084 2.11% 144,952 127.90% Total Commercial $312,764 $20,051,085 1.56% $211,088 148.17% Construction 14,360 1,732,075 0.83% - - Mortgage 79,522 8,780,334 0.91% 139,473 57.02% Leasing 17,627 1,968,035 0.90% 7,182 245.43% Consumer Credit cards 84,817 1,237,997 6.85% - - Home equity lines of credit 1,423 85,357 1.67% 3,320 42.86% Personal 102,422 1,952,725 5.25% 17,356 590.12% Auto 164,543 3,766,648 4.37% 31,474 522.79% Other 7,354 175,606 4.19% 3,544 207.51% Total Consumer $360,559 $7,218,333 5.00% $55,694 647.39% Total $784,832 $39,749,862 1.97% $413,437 189.83% N.M. - Not meaningful. 122 Table of Content Table 26 - Allowance for Credit Losses - Loan Portfolios December 31, 2025 (Dollars in thousands) Total ACL Total loans held-in-portfolio ACL to loans held- in-portfolio Total non-performing loansheld-in-portfolio ACL to non-performing loansheld-in-portfolio Commercial Commercial multi-family $19,345 $2,455,790 0.79% $8,748 221.14% Commercial real estate non-owner occupied 58,717 5,543,284 1.06% 42,712 137.47% Commercial real estate owner occupied 48,451 3,153,080 1.54% 24,567 197.22% Commercial and industrial 180,934 8,607,412 2.10% 190,412 95.02% Total Commercial $307,447 $19,759,566 1.56% $266,439 115.39% Construction 13,826 1,674,899 0.83% - - Mortgage 80,554 8,649,440 0.93% 145,795 55.25% Leasing 18,620 2,001,365 0.93% 9,179 202.85% Consumer Credit cards 91,124 1,256,717 7.25% - - Home equity lines of credit 1,335 78,692 1.70% 2,796 47.75% Personal 106,612 1,906,228 5.59% 20,096 530.51% Auto 180,364 3,819,812 4.72% 52,200 345.52% Other 8,174 180,799 4.52% 1,838 444.72% Total Consumer $387,609 $7,242,248 5.35% $76,930 503.85% Total $808,056 $39,327,518 2.05% $498,343 162.15% Annualized net charge-offs (recoveries) The following table presents annualized net charge-offs (recoveries) to average loans held-in-portfolio (“HIP") by loan category for the quarters and six months ended June 30, 2026 and 2025. Table 27 - Annualized Net Charge-offs (Recoveries) to Average Loans Held-in-Portfolio Quarters ended June 30, 2026 June 30, 2025 BPPR Popular U.S. Popular Inc. BPPR Popular U.S. Popular Inc. Commercial 2.44% 0.06% 1.37% —% 0.02% 0.01% Mortgage (0.26) (0.01) (0.23) (0.14) (0.01) (0.12) Leasing 0.37 — 0.37 0.56 — 0.56 Consumer 2.14 3.04 2.15 2.29 4.00 2.33 Total annualized net charge-offs (recoveries) to average loans held-in- portfolio 1.46% 0.08% 1.05% 0.61% 0.07% 0.45% Six months ended June 30, 2026 June 30, 2025 BPPR Popular U.S. Popular Inc. BPPR Popular U.S. Popular Inc. Commercial 1.44% 0.03% 0.81% (0.05)% 0.02% (0.02)% Construction (0.01) — — — — — Mortgage (0.20) (0.01) (0.17) (0.14) (0.03) (0.12) Leasing 0.45 — 0.45 0.62 — 0.62 Consumer 2.41 3.06 2.42 2.55 3.95 2.59 Total annualized net charge-offs (recoveries) to average loans held-in-portfolio 1.16% 0.06% 0.83% 0.67% 0.07% 0.49% NCOs for the quarter ended June 30, 2026 amounted to $104.1 million, increasing by $61.9 million when compared to the same period in 2025. The BPPR segment increased by $61.5 million, mainly driven by a single charge-off of a commercial and industrial loan of $71.3 million that was reclassified to LHFS, partially offset by lower charge-offs in mortgage and consumer loans. The PB segment NCOs increased by $0.3 million, mainly driven by higher commercial multi-family NCOs by $0.7 million, offset by lower consumer NCOs by $0.6 million. NCOs for the six months ended June 30, 2026 amounted to $164.1 million, increasing by $72.8 million when compared to the same period in 2025. The BPPR segment increased by $73.4 million, mainly driven by the same single $71.3 million commercial and industrial loan charge-off mentioned above. The PB segment NCOs increased by $0.6 million, mainly driven by higher consumer NCOs by $1.2 million, offset by lower commercial multi-family NCOs by $0.8 million. 123 Table of Content Loan Modifications For the quarter ended June 30, 2026, modified loans to borrowers with financial difficulty amounted to $150.2 million, of which $101.0 million were in accruing status. The BPPR segment’s modifications to borrowers with financial difficulty amounted to $147.1 million, mainly comprised of commercial and mortgage loans of $125.1 million and $15.9 million, respectively. A total of $10.9 million of the mortgage modifications were related to government guaranteed loans. The Popular U.S. segment’s modifications to borrowers with financial difficulty amounted to $3.1 million, mostly comprised of commercial and mortgage loans of $2.1 million and $1.0 million, respectively. Refer to Note 8 to the Consolidated Financial Statements for additional information on modifications made to borrowers experiencing financial difficulties. ADOPTION OF NEW ACCOUNTING STANDARDS AND ISSUED BUT NOT YET EFFECTIVE ACCOUNTING STANDARDS Refer to Note 3, “New Accounting Pronouncements" to the Consolidated Financial Statements. 124 Table of Content