LETTER OF ELECTION AND TRANSMITTALLetter of Election and Transmittal • March 11th, 2021
San Diego Trust Bank (“SDTB”) entered into an Agreement and Plan of Reorganization, dated as of March 5, 2013 (the “Merger Agreement”), with Pacific Premier Bancorp, Inc. (“Pacific Premier”) and Pacific Premier Bank (“Pacific Premier Bank”), which provides for the merger of SDTB with and into Pacific Premier Bank, with Pacific Premier Bank as the surviving institution (the “Merger”). This Letter of Election and Transmittal is being sent to SDTB shareholders in accordance with the Merger Agreement for the purpose of providing SDTB shareholders with the opportunity to elect the form of, and to receive, their aggregate Merger Consideration (as hereinafter defined). Pursuant to the Merger Agreement, shareholders of SDTB may elect to receive cash, shares of Pacific Premier common stock, or a combination of both in exchange for their shares of SDTB common stock upon consummation of the Merger. The election is subject to allocation procedures intended to ensure that 50% of the aggregate value
