Popular, Inc. Statement on Raging Capital Management Letter to Board of Directors

Popular, Inc. BPOP confirmed that the letter that Raging Capital Management publicly released on December 9, 2019 has been received and shared with the Popular Board of Directors. Popular always seeks to maintain an open and constructive dialogue with its shareholders. Popular will review the publicly-released letter that Raging Capital Management sent to the Popular Board.

About Popular, Inc.

Popular, Inc. is the leading financial institution in Puerto Rico, by both assets and deposits, and ranks among the top 50 U.S. bank holding companies by assets. Founded in 1893, Banco Popular de Puerto Rico, Popular's principal subsidiary, provides retail, mortgage and commercial banking services in Puerto Rico and the U.S. Virgin Islands. Popular also offers in Puerto Rico auto and equipment leasing and financing, investment banking, broker-dealer and insurance services through specialized subsidiaries. In the mainland United States, Popular provides retail, mortgage and commercial banking services through its New York-chartered banking subsidiary, Popular Bank, which has branches located in New York, New Jersey and Florida.

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