NYSE: FCF NYSE: FCF Forward‐looking statements This presentation contains forward‐looking statements about First Commonwealth’s future plans, strategies and financial performance. These statements can be identified by the fact that they do not relate strictly to historical or current facts and often include words such as "believe," "expect," "anticipate," "intend," "plan," "estimate" or words of similar meaning, or future or conditional verbs such as "will," "would," "should," "could" or "may." Such statements are based on assumptions and involve risks and uncertainties, many of which are beyond our control. Factors that could cause actual results, performance or achievements to differ from those discussed in the forward‐looking statements include, but are not limited to: › Local, regional, national and international economic conditions and the impact they may have on First Commonwealth and its customers; › volatility and disruption in national and international financial markets; › the effects of and changes in trade and monetary and fiscal policies and laws, including the interest rate policies of the Federal Reserve Board; › inflation, interest rate, commodity price, securities market and monetary fluctuations; › the effect of changes in laws and regulations (including laws and regulations concerning taxes, banking, securities and insurance) with which First Commonwealth must comply; › the soundness of other financial institutions; › political instability; › impairment of First Commonwealth’s goodwill or other intangible assets; › acts of God or of war or terrorism; › the timely development and acceptance of new products and services and perceived overall value of these products and services by users; › changes in consumer spending, borrowings and savings habits; › changes in the financial performance and/or condition of First Commonwealth’s borrowers; › technological changes; › acquisitions and integration of acquired businesses; › First Commonwealth’s ability to attract and retain qualified employees; › changes in the competitive environment in First Commonwealth’s markets and among banking organizations and other financial service providers; › the ability to increase market share and control expenses; › the effect of changes in accounting policies and practices, as may be adopted by the regulatory agencies, as well as the Public Company Accounting Oversight Board, the Financial Accounting Standards Board and other accounting standard setters; › the reliability of First Commonwealth’s vendors, internal control systems or information systems; › the costs and effects of legal and regulatory developments, the resolution of legal proceedings or regulatory or other governmental inquiries, the results of regulatory examinations or reviews and the ability to obtain required regulatory approvals; and › other risks and uncertainties described in the reports that First Commonwealth files with the Securities and Exchange Commission, including its most recent Annual Report on Form 10‐K. Forward‐looking statements speak only as of the date on which they are made. First Commonwealth undertakes no obligation to update any forward‐looking statements to reflect circumstances or events that occur after the date the forward‐looking statements are made. NYSE: FCF 2019 Raymond James U.S. Bank Conference September 4, 2019 Chicago, IL NYSE: FCF Investment Thesis . Authentic, mission‐driven community bank – Commercially‐focused loan portfolio, balanced by consumer lending – Exceptionally low cost of funds, driven by loyal customer base and commercial deposits – Diversified geography through legacy Pennsylvania operations and expansion into Ohio markets – Diversified revenue streams and product mix, with approximately 25% of revenue from fee income sources (including trust, brokerage, insurance, mortgage and SBA lending) . Proven ability to control expenses and deliver positive operating leverage – Significant cost reduction through core system conversion and retail restructuring – Redeploying cost savings into revenue‐generating positions, digital transformation and new business initiatives (e.g., mortgage, SBA) . Disciplined growth strategies aimed at efficiently deploying capital – Targeting mid‐single‐digit loan growth funded by commensurate growth in deposits – Successful track record of low‐risk acquisitions . Risk and governance culture aligned with expectations of long‐term stakeholders 4 NYSE: FCF Overview of First Commonwealth Financial Corporation FCF Branches (133) Pending Branch Acquisition (14) FCF Mortgage LPO (3) FCF Commercial LPO (3) . Commercially‐oriented community bank with . Total Assets: $8.1 billion 147 retail branches in Pennsylvania and Ohio(1) . Total Gross Loans: $6.0 billion . Active in four major metro markets: . Total Deposits: $6.2 billion – Pittsburgh, PA – Columbus, OH . Market Cap: $1.3 billion (as of July 30, 2019) – Cincinnati, OH – Cleveland, OH As of June 30, 2019 5 (1) Pro forma branch count includes the acquisition of 14 Santander branches announced on April 22, 2019 NYSE: FCF Historical Financial Performance Core EPS ¹ ($mm) Core ROAA ¹ (%) 1.44% 1.37% $1.10 1.09% $0.82 0.93% $0.69 0.79% $0.57 0.71% $0.48 $0.28 2014 2015 2016 2017 2018 2Q19 2014 2015 2016 2017 2018 2Q19 Core ROATCE ¹ (%) Efficiency Ratio ¹ (%) 16.9% 68.9% 15.5% 63.4% 60.2% 13.4% 58.7% 57.2% 56.8% 10.8% 9.2% 8.0% 2014 2015 2016 2017 2018 2Q19 2014 2015 2016 2017 2018 2Q19 (1) Please refer to the appendix for reconciliations of non‐GAAP measures 6 NYSE: FCF Organizational Changes 2012 ‐ Present New CEO New Bank New New CCO New New President New Retail Commercial Legacy core team augmented Experienced New Wealth Lending New CFO Bank New CIO Head Head with new talent Leadership Mortgage Head Consumer Lending Head New Head HR Head IT Infrastructure IT core as well as 40 of 60 systems replaced Re‐launched mortgage Expanded consumer indirect Expanded SBA lending talent Focused efforts on enhancing Consumer/SBA offering after 10‐year lending talent and and geographic footprint Lending absence capabilities consumer lending capabilities Retail Platform Transformative restructuring in Transformation 2016 2 Mortgage Acquisition First DCB Financial Foundation LPOs and of 14 Cleveland Community Corp. Bank Building out commercial and Market acquisition of Santander LPO Acquisition Acquisition Acquisition 13 branches branches (OH) (OH) mortgage offerings Expansion (OH) (OH) (PA) Digital New IT platform enables Transformation cutting‐edge technology 7 NYSE: FCF Executive Leadership Team Years of Experience Name Age Title In Current With In Prior Position Role FCF Banking T. Michael Price 56 President and CEO 7 12 31 President, First Commonwealth Bank James R. Reske 55 EVP –CFO and Treasurer 5 5 29 CFO and Treasurer Jane Grebenc 60 EVP –Chief Revenue Officer 6 6 34 EVP / Retail Banking Brian G. Karrip 59 EVP –Chief Credit Officer 3 3 37 EVP / Specialized Lending Matthew C. Tomb 43 EVP –Chief Risk Officer and Legal 12 12 13 Corporate and Securities Attorney with Counsel Regional Law Firm David B. Buckiso 49 EVP –Wealth Services 5 5 25 Managing Director of Wealth Management Carrie Riggle 50 EVP –Human Resources 7 27 27 Human Resources Manager Norman J. 52 EVP –Business Integration 7 30 30 Product / Sales Development Montgomery Leonard V. Lombardi 60 EVP –Chief Audit Executive 10 26 37 Director of Internal Audit / Loan Review Gregory J. Sipos 50 EVP –Corporate Banking 2 29 29 SVP / Corporate Banking Stanley R. Foraker 62 EVP –Mortgage Banking 6 6 34 SVP / Retail Lending Jeffrey S. Rosen 56 EVP –Consumer and Small Business 2232SVP / Government Guaranteed Lending Lending Joseph T. Culos 55 EVP –Retail Banking 1 4 27 SVP / Retail Banking Executive 8 NYSE: FCF Expense Control: Noninterest Expense Trend $ in millions (1) $190.1 $193.9 $162.6 $163.0 $156.8 43% 42% 45% 44% $102.0 48% 57% 58% 52% 55% 56% 43% 57% (2) (3) (3) (3) (3) . Successfully redeployed back office savings into revenue producing business lines over the past five years . Largest investments include reentry into the traditional mortgage and SBA businesses, corporate banking build‐out and retail expansion in Ohio, and customer facing technology . Expense increase from 2016 to 2018 driven by acquisitions (1) Refer to the appendix for reconciliations of non‐GAAP measures 9 (2) Excludes $8.6 million litigation settlement (3) Excludes one‐time merger related expenses of $0.9 million, $3.2 million, $10.2 million and $1.6 million in 2015, 2016, 2017 and 2018, respectively NYSE: FCF Digital Strategy . Create a mobile‐centric, full‐service banking capability which stands on its own without the need for the customer to go to a branch or call the Engagement Center. Enhance ability to proactively engage customers in virtual conversations and provide personalized Community Bank customer experiences. Deliver digital platforms and tools which use contemporary design standards (User‐Interface (UI) and User‐Experience (UX)) and promote customer engagement and education around ongoing enhancements. Improve digital infrastructure to support higher levels of security and integration of new functionality. Drive revenue growth, operational efficiency and superior customer experience through the digitalization of processes and by embracing evolving payments technology. Evolve data analytics through education of data availability and tools, governance, and end user talent with outcome of better productivity, focused marketing, lowered risk and improved customer satisfaction. 10 NYSE: FCF Digital and Payments • Bank