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 2   Forward-Looking Statement   The Corporation may make forward-looking statements about its   relative business outlook. These forward-looking statements and all   other statements made during this meeting that do not concern   historical facts are subject to risks and uncertainties that may   materially affect actual results.      Specific forward-looking statements include, but are not limited to,   any indications regarding the financial services industry, the   economy and future growth of the balance sheet or income   statement.      Please refer to our press releases, Form 10-Qs and 10-Ks   concerning factors that could cause actual results to differ materially   from any forward-looking statements.      THE STRENGTH OF BIG. THE SERVICE OF SMALL. www.firstmerchants.com   ®
 Michael C. Rechin   President   and Chief Executive Officer   THE STRENGTH OF BIG. THE SERVICE OF SMALL. www.firstmerchants.com   ®
 Earnings & Growth   • $0.34 Second Quarter EPS, $0.72 YTD EPS   • 3.88% 2nd Quarter Net Interest Margin   • $122.4 Million YOY Loan Growth, Approximately 4.4%    • Redeemed $56.7 Million of SBLF Preferred Shares in 2013   • Continued Asset Quality Improvement      Announced Definitive Agreement to Acquire CFS Bancorp, Inc.   • $1.1 Billion in Assets   • Operates 20 Banking Centers in Northwest Indiana and   Northeast Illinois   • Integration Planning on Target for 4th Quarter 2013 Closing   • Requires Regulatory and Shareholder Approval   • Accretive to EPS in 2014                           4   2013 Performance Highlights   THE STRENGTH OF BIG. THE SERVICE OF SMALL. www.firstmerchants.com   ®
 Mark K. Hardwick   Executive Vice President   and Chief Financial Officer   THE STRENGTH OF BIG. THE SERVICE OF SMALL. www.firstmerchants.com   ®
 6   Total Assets     2011 2012 Q1-’13 Q2-’13   1. Investments $   946 $   874 $   870 $  909   2. Loans Held for Sale   18 22 27 15   3. Loans 2,713 2,902 2,880 2,920   4. Allowance (71) (69) (69) (68)   5. CD&I & Goodwill 150 150 149 149   6. BOLI 124 125 126 127   7. Other 293 301 270 286   8. Total Assets $4,173 $4,305 $4,253 $4,338   THE STRENGTH OF BIG. THE SERVICE OF SMALL. www.firstmerchants.com   ($ in Millions)   ®
 7   Commercial &   Industrial Loans   22.4%   Commercial Real   Estate Owner-   Occupied   14.9%   Commercial Real   Estate Non-Owner   Occupied   24.1%Land & Lot   3.5%   Agricultural Land   4.4%   Agricultural   Production   3.6%   Other Non-   Consumer   1.3%   Residential   Mortgage   16.2%   Home Equity   6.9%   Other Consumer   2.7%   Loan and Yield Detail    (as of 6/30/2013) QTD Yield = 4.66%   YTD Yield = 4.90%   YTD Adjusted Yield =  4.73%   Total = $2.9B   THE STRENGTH OF BIG. THE SERVICE OF SMALL. www.firstmerchants.com   ®
 8   Investment Portfolio   (as of 6/30/2013)   • $909 Million Balance   • Average duration – 4.3 years   • Tax equivalent yield of 3.67%   • Net unrealized gain of $11.6 million    THE STRENGTH OF BIG. THE SERVICE OF SMALL. www.firstmerchants.com   ®   Mortgage-   Backed   Securities   34%   Collateralized   Mortgage   Obligations   30%   Corporate   Obligations   5%   Tax-Exempt   Municipals   31%
 9     2011 2012 Q1-’13 Q2-’13   1. Customer Non-Maturity Deposits  $2,196 $2,479   $2,482 $2,565   2. Customer Time Deposits 816 739 706 655   3. Brokered Deposits 123 128 123 113   4. Borrowings 378 260 260 316   5. Other Liabilities 34 39 37 43   6. Hybrid Capital 111 107 107 107   7. Preferred Stock (SBLF) 91 91 68 68   8. Common Equity 424 462 470 471   9. Total Liabilities and Capital $4,173 $4,305 $4,253 $4,338   Total Liabilities and Capital   ($ in Millions)   THE STRENGTH OF BIG. THE SERVICE OF SMALL. www.firstmerchants.com   ®
 10   Demand Deposits,   50%   Savings Deposits,   28%   Certificates & Time   Deposits of   >$100,000,   6%   Certificates & Time   Deposits of   <$100,000,   13%   Brokered Deposits,          3%   QTD Cost = .40%   YTD Cost = .43%   Total = $3.3B   Deposits and Cost of   Funds Detail   (as of 06/30/2013)   THE STRENGTH OF BIG. THE SERVICE OF SMALL. www.firstmerchants.com   ®
 11     2011  2012 Q1-’13 Q2-’13      1. Total Risk-Based     Capital Ratio  16.54% 16.34% 15.91% 15.69%      2. Tier 1 Risk-Based     Capital Ratio  13.92% 14.15% 14.03% 13.83%      3. Leverage Ratio 10.17% 11.03% 11.00% 11.02%      4. Tier 1 Common Risk-     Based Capital Ratio 8.83% 9.62% 10.20% 10.13%      5. TCE/TCA  6.84% 7.55% 7.88% 7.74%   Capital Ratios   THE STRENGTH OF BIG. THE SERVICE OF SMALL. www.firstmerchants.com   ®
 12   Net Interest Margin   THE STRENGTH OF BIG. THE SERVICE OF SMALL. www.firstmerchants.com   ®   Q2 - '11 Q3 - '11 Q4 - '11 Q1 - '12 Q2 - '12 Q3 - '12 Q4 - '12 Q1 - '13 Q2 - '13   .   Net Interest Income - FTE ($millions)  $  37.3   $   37.3   $  37.6   $   37.6   $  39.5   $  41.3   $  39.7   $  40.8   $  38.1    Tax Equivalent Yield on Earning Assets 5.04% 5.01% 4.83% 4.74% 4.75% 4.89% 4.58% 4.70% 4.29%   Cost of Supporting Liabilities 1.05% 0.99% 0.84% 0.78% 0.64% 0.57% 0.48% 0.45% 0.41%   Net Interest Margin 3.99% 4.02% 3.99% 3.96% 4.11% 4.32% 4.10% 4.25% 3.88%   3.96%   4.04% 4.04%   3.97%   3.90%   3.84%   3.70%   3.80%   3.90%   4.00%   4.10%   4.20%   4.30%   4.40%   $35   $36   $37   $38   $39   $40   $41   $42   Q2 - '11 Q3 - '11 Q4 - '11 Q1 - '12 Q2 - '12 Q3 - '12 Q4 - '12 Q1 - '13 Q2 - '13   Net Interest Income - FTE ($millions) Net Interest Margin Net Interest Margin - Adjusted
 13      2011 2012  Q1-’13 Q2-’13      1. Service Charges on Deposit Accounts  $12.0 $11.6 $  2.7 $  2.9   2. Trust Fees  7.7 7.9 2.1 2.3   3. Insurance Commission Income 5.7 6.2 2.2 1.7   4. Electronic Card Fees 6.5 7.3 1.8 1.8   5. Cash Surrender Value of Life Ins 2.6 3.4 0.7 0.6   6. Gains on Sales Mortgage Loans 7.4 10.6 2.4 2.5   7. Securities Gains/Losses 2.0 2.4 0.2 0.2   8. Gain on FDIC-Modified Whole-Bank Transaction   –   9.1  –  –   9. Other 5.2 5.8 1.8 2.1   10. Total $49.1 $64.3 $13.9 $14.1   11. Adjusted Non-Interest Income1 $47.1 $52.8 $13.7 $13.9                              1Adjusted for Bond Gains & Losses and Gain on FDIC-Modified Whole-Bank Transaction   Non-Interest Income   THE STRENGTH OF BIG. THE SERVICE OF SMALL. www.firstmerchants.com   ($ in Millions)   ®
 14   Non-Interest Expense      2011 2012  Q1-’13 Q2-’13      1. Salary & Benefits $  74.7 $  79.4 $20.8 $20.5   2. Premises & Equipment 16.9 17.4 4.4 4.0   3. Core Deposit Intangible 3.5 1.9 0.4 0.4   4. Professional Services 2.2 2.3 0.6 0.6   5. OREO/Credit-Related Expense 10.6 8.2 1.9 1.5   6. FDIC Expense 5.5 3.5 0.7 0.7   7. Outside Data Processing 5.7 5.7 1.5 1.4   8. Marketing 2.0 2.2 0.5 0.5   9. Other 14.8 16.5 3.9 4.1   10. Non-Interest Expense $135.9 $137.1 $34.7 $33.7   THE STRENGTH OF BIG. THE SERVICE OF SMALL. www.firstmerchants.com   ($ in Millions)   ®
 15      2011 2012  Q1-’13 Q2-’13      1. Net Interest Income-FTE1 $149.1 $153.5 $ 40.0 $ 37.7   2. Non Interest Income2 47.1 52.8 13.7 13.9   3. Non Interest Expense (135.9) (137.1) (34.7) (33.7)   4. Pre-Tax Pre-Provision Earnings $  60.3 $  69.2 $ 19.0 $17.9   5. Provision (  22.6) ( 18.5) (  2.1) (  2.0)   6. Adjustments1, 2  2.0 16.1 1.0 0.6   7. Taxes – FTE ( 14.4) ( 21.7) (  6.0) (  5.6)   8. Gain/(Loss) on CPP/Trust Preferred ( 12.3) −  −   –    9. Preferred Stock Dividend (   4.0) (  4.5) (  0.9) (  0.9)   10. Net Income Avail. for Distribution $    9.0 $ 40.6 $ 11.0 $ 10.0   11. EPS $  0.34 $ 1.41 $ 0.38 $ 0.34      1Adjusted for Fair Market Value Accretion   2Adjusted for Bond Gains & Losses and Gain on FDIC-Modified Whole-Bank Transaction   Earnings   THE STRENGTH OF BIG. THE SERVICE OF SMALL. www.firstmerchants.com   ($ in Millions)   ®
 16   Earnings Per Share   2011  Q1 Q2 Q3 Q4 Total      1. Reported $ .17 $ .18 ($ .25) $ .24 $  .34      2. Adjusted $ .17 $ .18 $  .21 $ .24 $  .80      2012 Q1 Q2 Q3 Q4 Total      1. Reported $ .46 $ .28 $  .35 $ .32 $1.41      2. Adjusted $ .25 $ .26 $  .29 $ .29 $1.09      2013  Q1 Q2 Q3 Q4 Total      1. Reported $ .38 $ .34   –   –  $  .72      2. Adjusted $ .36 $ .33    –   –  $  .69   1Adjusted for gains and losses on CPP/Trust Preferred refinance and repayment net of taxes (Line 8 on slide 15)   2Adjusted for gain on FDIC-Modified Whole-Bank Transaction and Fair Market Value Accretion   1   2   THE STRENGTH OF BIG. THE SERVICE OF SMALL.   2   www.firstmerchants.com   ®
 John J. Martin   Executive Vice President   and Chief Credit Officer   THE STRENGTH OF BIG. THE SERVICE OF SMALL. www.firstmerchants.com   ®
 18   Asset Quality Summary   THE STRENGTH OF BIG. THE SERVICE OF SMALL. www.firstmerchants.com   ®   ($ in Millions)   2011 2012 Q1-'13 Q2-'13    % Change   Linked Qtr.   1. Non-Accrual Loans 69.6$      53.4$       46.8$      39.0$      (16.7%)   2. Other Real Estate 16.3$      13.3$       13.1$      11.8$      (9.9%)   3. Renegotiated Loans 14.3$      12.7$       5.4$        4.4$        (18.5%)   4. 90+ Days Delinquent Loans 0.6$        2.0$         1.0$        1.1$        10.0%   5. Specific Reserves 7.6$        4.2$         3.6$        4.5$        25.0%   6. Allowance for Loan and   Lease Losses 70.9$      69.4$       68.5$      68.2$      (0.4%)   7. ALLL/Non-Accrual  Loans 101.9% 129.9% 146.6% 175.0%   8. Classified Assets 227.2$    184.4$     172.7$    148.5$    (14.0%)   9. Criticized Assets (includes   Classified) 319.2$    250.2$     242.7$    225.9$    (6.9%)
 19   Net Charge-Offs, Provision & Allowance   THE STRENGTH OF BIG. THE SERVICE OF SMALL. www.firstmerchants.com   ®   2011 2012 Q1-'13 Q2-'13   $34.7   $20.1   $2.9 $2.3   $22.6   $18.5   $2.1 $2.0   $70.9 $69.4 $68.5 $68.2   Net Charge-Offs Provision Expense Allowance for Loan Losses   Non-accrual decline continues.    Allowance coverage of non-   accrual loans increases to   175.0%   Allowance to loans at 2.32%   Q2 Gross charge-offs   $4.86 million offset by   recoveries of $2.53 million   $63.1   $57.0   $53.4   $46.8   $39.0   111.1%   121.9%   129.9%   146.6%   175.0%   70%   90%   110%   130%   150%   170%   190%   210%   $30   $40   $50   $60   $70   Q -'12 Q3-'12 Q4-'12 Q1-'13 Q2-'13   ALLL Non-Accrual Loans ALLL % of  Non-Accrual Loans
 20   Non-Performing Asset Reconciliation   THE STRENGTH OF BIG. THE SERVICE OF SMALL. www.firstmerchants.com   ®   ($ in Millions) Q3-'12 Q4-'12 Q1-'13 Q2-'13   1. Beginning Balance NPA's & 90+ Days Delinquent $81.9 $79.6 $81.4 $66.3      Non-Accrual   2.    Add: New Non-Accruals 8.3 6.8 6.9 4.2   3.    Less:  To Accrual/Payoff/Renegotiated (5.1) (3.2) (3.7) (5.7)   4.    Less: To OREO (1.5) (1.6) (3.2) (1.4)   5.    Less:  Charge-offs (7.8) (5.6) (6.6) (4.9)   6. Increase / (Decrease):  Non-Accrual Loans (6.1) (3.6) (6.6) (7.8)      Other Real Estate Owned (ORE)   7.    Add:  New ORE Properties 1.5 1.6 3.2 1.4   8.    Less: ORE Sold (1.1) (1.4) (2.3) (2.3)   9.    Less: ORE Losses (write-downs) (0.8) (0.7) (1.0) (0.5)   10. Increase / (Decrease):  ORE (0.4) (0.5) (0.1) (1.4)   11. Increase / (Decrease): 90+ Days Delinquent 1.3 0.1 (1.1) 0.1   12. Increase / (Decrease): Restructured Loans 2.9 5.8 (7.3) (1.0)   13. Total NPA Change (2.3) 1.8 (15.1) (10.1)   14. Ending Balance NPA's & 90+ Days Delinquent $79.6 $81.4 $66.3 $56.2   31.4%   decline
 21   Loan Portfolio Trends   THE STRENGTH OF BIG. THE SERVICE OF SMALL. www.firstmerchants.com   ®   ($ in Millions)   2011 2012 Q1-'13 Q2-'13 $ %   1. Commercial & Industrial 532.5$ 622.6$ 638.0$ 657.8$ 19.8   3.1%   2. Construction, land and   land development 81.8      98.6      75.9     101.9   26.0   34.3%   3. CRE Non-Owner Occupied 598.1   706.3    722.1   707.3   (14.8)  (2.0%)   4. CRE Owner Occupied 464.7   434.2    434.5   436.3   1.8     0.4%   5. Agricultural Production 104.5   112.5    104.3   105.2   0.9     0.9%   6. Agricultural Land 131.4   126.2    123.9   129.2   5.3     4.3%   7. Residential Mortgage 481.5   473.5    467.6   460.1   (7.5)    (1.6%)   8. Home Equity 191.6   203.5    201.8   203.8   2.0     1.0%   9. Other Non-Consumer 39.5      46.5      38.1     39.2      1.1     2.9%   10. Other Consumer 87.8      78.3      73.3     79.3      6.0     8.2%   11. Loans 2,713.4$ 2,902.2$ 2,879.5$ 2,920.1$ 40.6$ 1.4%   Change   Linked Qtr
 Michael C. Rechin   President   and Chief Executive Officer   THE STRENGTH OF BIG. THE SERVICE OF SMALL. www.firstmerchants.com   ®
 FMC Strategy   THE STRENGTH OF BIG. THE SERVICE OF SMALL.   “Service-driven alternative to super-regional bank competitors.     Deliver superior service with presence close to the customer for . . .”   • Retail Banking   • Commercial Banking   • Middle Market   • Agriculture   • Healthcare Services   • Real Estate   • Business Banking   • Cash Management   • Mortgage Banking   • Trust Services (Fiduciary, Custody)   • Insurance Products   “We specialize in our communities”   www.firstmerchants.com   23 ® ®
 • Continue to Execute on 2013 Performance Drivers   • Complete Strategic Projects in:   • Compliance   • Revenue   • Customer Experience   • Efficiency   • Close and Integrate CFS Bancorp Acquisition   • Evaluate Hybrid Capital Structure Alternatives   24   2013 Tactics Overview   “The Strength of Big. The Service of Small.”   www.firstmerchants.com   ®
 25   Contact Information   First Merchants Corporation common stock is   traded on the NASDAQ Global Select Market   under the symbol FRME.   Additional information can be found at   www.firstmerchants.com   Investor inquiries:   David L. Ortega   Investor Relations   Telephone: 765.378.8937   dortega@firstmerchants.com   THE STRENGTH OF BIG. THE SERVICE OF SMALL. FIRST MERCHANTS and the Shield Logo are registered   trademarks of First Merchants Corporation   ®