4

Please silence cell phones

5

B O A R D O F D I R E C T O R S

Lynn B. Fuller Bruce K. Lee Mark C. Falb Thomas L. Flynn John K. Schmidt

Duane E. White Kurt M. Saylor R. Michael McCoy John W. Cox, Jr. Martin J. Schmitz

250 + YEARS OF LEADERSHIP EXPERIENCE

7

S E N I O R L E A D E R S H I P T E A M

Michael J. CoyleExecutive Vice President, Senior General Counsel,

Corporate Secretary

Deborah DetersExecutive Vice President,

Chief Human Resources Officer

Brian J. FoxExecutive Vice President,

Operations

Laura J. HughesExecutive Vice President, Chief Marketing Officer

Retail Business Line Leader

Bryan R. McKeagExecutive Vice President,

Chief Financial Officer

J. Daniel PattenExecutive Vice President, Finance and Corporate

Strategy

Janet M. QuickExecutive Vice President,

Deputy Chief Financial Officer, Principal

Accounting Officer

Bruce C. RehmkeExecutive Vice President,

Private Client Services

Rodney L. SloanExecutive Vice President,

Chief Risk Officer

Andrew E. Townsend

Executive Vice President, Chief Credit Officer

Frank E. WalterExecutive Vice President,

Commercial Sales

8

Safe Harbor

This presentation may contain, and future oral and written statements of the Company and its management maycontain, forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 withrespect to the financial condition, results of operations, plans, objectives, future performance and business of theCompany. Forward-looking statements, which may be based upon beliefs, expectations and assumptions of theCompany’s management and on information currently available to management, are generally identifiable by the use ofwords such as believe, expect, anticipate, plan, intend, estimate, may, will, would, could, should or similar expressions.Additionally, all statements in this release, including forward-looking statements, speak only as of the date they aremade, and the Company undertakes no obligation to update any statement in light of new information or future events.

A number of factors, many of which are beyond the ability of the Company to control or predict, could cause actualresults to differ materially from those in its forward-looking statements. These factors include, among others, thefollowing: (i) the strength of the local and national economy; (ii) the economic impact of past and any future terroristthreats and attacks and any acts of war or threats thereof, (iii) changes in state and federal laws, regulations andgovernmental policies concerning the Company’s general business; (iv) changes in interest rates and prepayment ratesof the Company’s assets; (v) increased competition in the financial services sector and the inability to attract newcustomers; (vi) changes in technology and the ability to develop and maintain secure and reliable electronic systems;(vii) the loss of key executives or employees; (viii) changes in consumer spending; (ix) unexpected results ofacquisitions; (x) unexpected outcomes of existing or new litigation involving the Company; and (xi) changes inaccounting policies and practices. These risks and uncertainties should be considered in evaluating forward-lookingstatements and undue reliance should not be placed on such statements. Additional information concerning theCompany and its business, including other factors that could materially affect the Company’s financial results, isincluded in the Company’s filings with the Securities and Exchange Commission.

FINANCIAL PERFORMANCE

MERGERS AND ACQUISITIONS

STRATEGIC BANKING MODEL

TREMENDOUS GROWTH

IN ASSETS

AND

SHAREHOLDER RETURN

11

Asset growth as of December 31, 2017.Source: SNL Financial

0%

5%

10%

15%

20%

25%

30%

2015 2016 2017

HTLF High Performance Peer Group

-25%

0%

25%

50%

75%

100%

125%

2014 2015 2016 2017

Tota

l Ret

urn

(%)

HTLFHTLF High Perf Peers

Total Shareholder Returns2014-2017

Cumulative 3-Year Growth Rate as of 12/31/14

Heartland 53.3% HP Peer 28.7%

A S S E T S A N D S H A R E H O L D E R R E T U R N

12As of December 31, 2017Source: SNL Financial

-100

-50

0

50

100

150

200

250

300

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

Tota

l Ret

urn

(%)

Total Index Total Return (%) From 12/31/2007 - 12/31/2017

HTLF S&P 500 SNL Small Cap U.S. Bank SNL Mid Cap U.S. Bank SNL Large Cap U.S. Bank

C O M P A R A T I V E R E T U R N S

14

Rank CompanyTotal Assets

($Bil) ROATCE %NPAs/Total

Assets %CET1 ratio

%Efficiency

ratio %LTM revenue

growth %1 Home BancShares 14 16.2 0.6 10.9 42 6.92 Western Alliance Group 20 18.3 0.6 10.4 42 183 Bank of the Ozarks 21 15.3 0.4 11 33 48.54 First Merchants 9 14.1 0.5 11 55 15.95 East West Bancorp 36 17.5 0.4 11.4 45 20.16 Community Bank System 11 15.7 0.2 13.9 64 16.17 Prosperity Bancshares 22 16 0.2 15.1 41 -2.88 FCB Financial Holdings 10 13.9 0.4 12.2 42 12.19 First Hawaiian 21 15.8 0.2 12.7 45 7.4

10 Glacier Bancorp 10 13.6 0.9 12.9 54 7.9---

55 Comerica 72 11 0.8 11.5 60 7.656 Wintrust Financial 27 11.5 0.5 9.5 63 12.757 NBT Financial 9 13.4 0.4 10.1 59 5.458 Zions Bancorp 66 9.4 0.9 12.2 64 7.759 LegacyTexas Financial 9 13.8 1 9.2 44 9.360 Heartland Financial USA 10 13.6 0.7 10 67 7.561 KeyCorp 137 11.9 0.6 10.3 66 3762 U.S. Bancorp 459 18 0.9 9.6 54 3.7

F O R B E S 2 0 1 8 B E S T B A N K S I N A M E R I C A

Heartland Ranked #60 out of 100 Largest Banks in America in 2018

Sheet1

Rank CompanyTotal Assets ($Bil)ROATCE %NPAs/Total Assets %CET1 ratio %Efficiency ratio %LTM revenue growth %

1Home BancShares1416.20.610.9426.9

2Western Alliance Group2018.30.610.44218

3Bank of the Ozarks2115.30.4113348.5

4First Merchants914.10.5115515.9

5East West Bancorp3617.50.411.44520.1

6Community Bank System1115.70.213.96416.1

7Prosperity Bancshares22160.215.141-2.8

8FCB Financial Holdings1013.90.412.24212.1

9First Hawaiian2115.80.212.7457.4

10Glacier Bancorp1013.60.912.9547.9

-

-

-

55Comerica72110.811.5607.6

56Wintrust Financial2711.50.59.56312.7

57NBT Financial913.40.410.1595.4

58Zions Bancorp669.40.912.2647.7

59LegacyTexas Financial913.819.2449.3

60Heartland Financial USA1013.60.710677.5

61KeyCorp13711.90.610.36637

62U.S. Bancorp459180.99.6543.7

FOCUS ON PROFIT

AND GROWTH

Total Assets – doubled over past four years

Annual Earnings – doubled over past four yearsEarnings Per Share – doubled over past six years

Stock Price – doubled over past three years $53.65 on 12/31/17

Market Cap– doubled over past two years

17

$9.8 Billion in Assets on 12/31/17

36/14 36 Year Old Company14 Years on NASDAQ

10/1 10 Independent Bank Charters1 Consumer Finance Company

12/117/1412 States117 Banking Centers14 Consumer Finance Offices

14.5% 5 Year Compound Annual Asset Growth Rate through 12/31/2017

As of December 31, 2017

A T - A - G L A N C E

18

0 Never an Annual Loss2X History of Doubling Earningsand Assets Every 5 to 7 Years

13.5%(1) / 14.0%(2) 3 Year Average Annual ROTCE through 12/31/176.6%(1) / 11.2%(2) 3 Year Compound Annual EPS Growth Rate through 12/31/17

36 36 Consecutive Years of Levelor Increased Dividends$1.6B Market Cap

6.6% Significant Inside Ownership by the Board and Senior Management (as of 1/31/18)As of December 31, 2017 unless otherwise specified(1) As reported (2) Excluding $10.4 million Deferred Tax charge in 2017

A T - A - G L A N C E

19

I N C O M E A N D A S S E T G R O W T H

$60.0M

$80.3M

$23.3M

$85.7M

$0

$2

$4

$6

$8

$10

$12

$0

$10

$20

$30

$40

$50

$60

$70

$80

$90

$100

2010 2011 2012 2013 2014 2015 2016 2017 1Q 2018

Assets -BillionsN

et In

com

e -M

illio

ns

Net Income in Millions Deferred Tax Change Exclusive of Impairment Charge Assets in Billions

$10 Billion

20As of December 31, 2017

$2.19

$2.83

$3.22

$2.65

$0.36

$0.00

$0.50

$1.00

$1.50

$2.00

$2.50

$3.00

$3.50

$4.00

2010 2011 2012 2013 2014 2015 2016 2017 1Q 2018Net Income Deferred Tax Change Exclusive of Goodwill Impairment Charge

Double Earnings Per Share Past 6 Years

D I L U T E D E P S G R O W T H

$3.70

ANA

LYST

S

2018

21

$0.51

$0.00

$0.10

$0.20

$0.30

$0.40

$0.50

$0.60

2010 2011 2012 2013 2014 2015 2016 2017Dividend Special Dividend

D I V I D E N D G R O W T H

22

$0.00

$10.00

$20.00

$30.00

$40.00

$50.00

$60.00

0.0

5.0

10.0

15.0

20.0

25.0

30.0

35.019

98

1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

Stock Price & TBV/Share

P/E

Ratio

TBV/Share (1) Stock Price

Stock Price Doubled Over 3 Years

T A N G I B L E B O O K V A L U ES H A R E P R I C E ( N O N - G A A P )

$23.99

$53.65

(1) See 10K for Non-GAAP ReconciliationAs of 12/31/17

HEARTLAND HAS ESTABLISHED

DISCIPLINED COMPETENCIES IN

MERGERS AND ACQUISITIONS

24

E X P A N S I O N T I M E L I N E

14 bank acquisitions announced and 13 closed since 2012

Opportunities abound across entire footprint

Heartland’s community bank model is attractive to sellers

26

• Expand existing charters — $1 Billion in assets 4 of 10 in 2017 Goal of 6 of 11 by year end 2018

• Accretive EPS transactions for current shareholders

• IRR transactions > 15%

• Tangible book value earn back of 4 years or less

C R I T E R I A F O R A C Q U I S I T I O N S

27

Closed in February 2017

Located in San Luis Obispo, California, in areas which compliment Premier Valley Bank

Assets $214 million.

Approximately $31 million stock and cash transaction (90/10)

Founders president, Tom Sherman, retained as Market President Combined with Premier Valley Bank― total assets of $900 Million

28

Closed July 2017

Located in Denver, Colorado Metro and Mountain Resort destinations

Assets $1.4 Billion

Approximately $211 Million stock and cash transaction (90/10)

Citywide President & CEO, Kevin Quinn, and Citywide leadership retained

Combined with Centennial Bank & Trust ― total assets of $2.3 Billion

29

Closed February 2018

Located in Minnetonka, MN

Assets $427 million

Approximately $61 million stock and cash transaction (90/10)

Signature President & CEO, Ken Brooks, retained

Combined with Minnesota Bank & Trust ― total assets of $630 Million

30

Scheduled to close May 18, 2018

Located in Lubbock, Texas

Assets approximately $1 billion

Approximately $186 million stock and cash transaction (90/10)

FirstBank Chairman & CEO, Barry Orr, a highly regarded Texas banker will head the new charter

31

10INDEPENDENT

BANK CHARTERS

117BANKINGCENTERS

89COMMUNITIES

As of May 16, 2018

A N E X P A N D I N G F R A N C H I S E

32

Midwest — Stable

Source: SNL Financial1 Expressed in thousands

M A R K E T O V E R V I E W

State 12/31/2017Assets1% of

Franchise

ProjectedPopulation

Change '18-'22 (%)

Iowa $1,443,419 14% 2.36%

Illinois $783,127 8% -0.18%

Wisconsin $1,079,222 11% 1.32%

Minnesota $210,157 2% 3.26%

KS / MO / TX $654,871 7% 3.33%

HTLF Midwest $4,170,796 42%

33

West: High Growth

Source: SNL Financial1 Expressed in thousands

M A R K E T O V E R V I E W

State 12/31/2017Assets1% of

Franchise

ProjectedPopulation

Change '18-'22 (%)

New Mexico $1,453,534 15% 0.96%

Arizona $602,182 6% 6.02%

Montana $487,136 5% 4.38%

Colorado $2,289,956 23% 6.90%

California $925,078 9% 4.06%

HTLF West $5,757,886 58%

HTLF Strategic Banking Model

T H R E E C O R E P I L L A R S O F S U C C E S S

Highly Empowered, High-Touch Local Bank Delivery

Extremely Rich Product Suite

Focus Energy on Taking Care of the Customer

C L I E N T - C E N T R I C H O L I S T I C B A N K I N G M O D E L

CommercialBanking

SmallBusinessBanking

TreasuryManagement

Card Services

Retail Banking

Mortgage

PrivateClient

Services

Holistic Solutions

Highly Engaged

Staff

Understand Customer

Needs

Advanced Technology

D E L I V E R Y D I F F E R E N T I A T I O N A N D F I N A N C I A L W E L L - B E I N G

1. Outstanding customer experience2. Superior, consultative banking3. Competitive products4. Continuous improvement5. Superior career paths and opportunities

5 C O R E T E N E T S T H A T S U P P O R T O U R M I S S I O N

39

Through Excellence in Customer Service And Respect for the Individual,

Everyone Profits.

M I S S I O N S T A T E M E N T

Lynn B. FullerOperating Executive Chairman

– Investor Relations– Mergers and Acquisitions– Risk/ Audit

Bruce K. LeePresident and CEO

– Heartland Group Bank Charters– Heartland Lines of Business– Heartland Shared Services

S U C C E S S I O N T R A N S I T I O N

Bruce K. LeePresident

Customer Experience

Growing Fee Business

Developing Talent

Commercial Lending

Business Solutions Commercial Card

56

Closed in 2017 Announced in 2017

M E R G E R S A N D A C Q U I S I T I O N S

57

Laura J. Hughes, Executive Vice

President, Chief Marketing Officer

Kevin Quinn, President and

C.E.O.

Lynn H. “Tut” Fuller, President

and C.E.O.

Curtis Chrystal, President and CEO

Bill Callahan,President and CEO

Kevin TenpasPresident and CEO

Deborah Deters, Executive Vice

President, Chief Human Resources Officer

Thomas Sherman, Executive Vice

President, Market President

Van Horsley, Executive Vice

President, Market President

Joanne Sherwood,

Executive Vice President,

Market President

T O P T A L E N T

59

Business Meeting2018 AnnualStockholders’ MeetingMay 16, 2018The Hotel Julien | Dubuque, IA

60

Mike CoyleHeartland Financial USA, Inc.Executive Vice President, Senior General Counsel, & Corporate Secretary

Jacquie ManternachHeartland Financial USA, Inc.Senior Vice President, Finance & Tax Director

Angela KelleyHeartland Financial USA, Inc.Senior Vice President, Deputy General Counsel

B U S I N E S S M E E T I N G

61

Quorum Report andNotice Of Meeting

B U S I N E S S M E E T I N G

62

Dispense With Reading of the 2017 Stockholders’

Meeting Minutes

B U S I N E S S M E E T I N G

63

Inspectors Of Election

B U S I N E S S M E E T I N G

64

Voting Procedure

B U S I N E S S M E E T I N G

65

Election of Directors

B U S I N E S S M E E T I N G

66

Approve Amendmentto Increase the maximum

size of the Board from 9 members to 11 members

B U S I N E S S M E E T I N G

67

Approve Amendmentto increase the maximum agea director may be elected from

age 70 to age 72

B U S I N E S S M E E T I N G

68

Approval of Auditors

B U S I N E S S M E E T I N G

69

Advisory Vote on Executive Compensation

B U S I N E S S M E E T I N G

70

Voting Items:1. Election of Directors2. Approve Amendment to Increase the

Maximum Size of the Board from 9 to 11 members

3. Approve Amendment to Increase the Maximum Age at which a Director May be Elected from Age 70 to Age 72

4. Approval of Auditors5. Advisory Vote on Executive Compensation

B U S I N E S S M E E T I N G

Bryan R. McKeagExecutive Vice PresidentChief Financial Officer

F I N A N C I A L S

72

Bill Long

Michael Kern

E X T E R N A L A U D I T O R

73

Jay Swanson

Cam Hoang

O U T S I D E C O R P O R A T E C O U N C I L

74

S T O C K A N A L Y S T S I N V E S T M E N T B A N K E R S

Damon Del Monte

Dan Cardenas, Tim Murnane

Andrew LieschJim Byrne

PANORAMIC CAPITAL ADVISORSJean-Luc Servat

Jeff Davis

Doug Gallun

Terry McEvoy

75(May 2018)

A N A L Y S T R A T I N G S

Coverage Rating Price Target

D.A. DAVIDSONJeff Rulis Neutral $59.00

KEEFE, BRUYETTE & WOODSDamon DelMonte Market Perform $59.00

RAYMOND JAMESDaniel Cardenas Outperform $58.00

SANDLER O’NEILL PARTNERSAndrew Liesch Hold $56.00

PIPER JAFFRAYNathan Race Overweight $62.00

FBR & Co.Steven Ross Neutral $59.00

76

Loan Growthof $1.04 Billion or 19% in 2017

Deposit Growthof $1.30 Billion or 19% in 2017

77

A diverse and growing loan portfolio fueled by organic and acquired growth

5 Year C.A.G.R – 17.08% Includes loans held for sale*Average loan yield YTD

12/31/2012Yield on Loans – 5.95%*

Total Loans - $2.92 Billion

12/31/2017Yield on Loans – 5.33%*

Total Loans - $6.44 Billion

C&I26%

Commercial RE Owner

Occupied19%

Other Commercial RE

15%

Residential Mortgages

16% Agricultural Loans12%

Consumer Loans5%

Construction7%

C&I21%

Commercial RE Owner

Occupied16%

Other Commercial RE

18%

Residential Mortgages

16%

Agricultural Loans

8%

Consumer Loans11%

Construction10%

L O A N P O R T F O L I O

78*Average Cost of Deposits YTD 5 Year C.A.G.R – 16.20%

12/31/2017C ost of Deposits – 0.24%*

12/31/2012C ost of Deposits – 0.65%*

Total Deposits - $3.85 Billion Total Deposits - $8.15 Billion

IBCA & Savings52%

Demand25%

CD23%

IBCA & Savings52%

Demand37% CD

11%

D E P O S I T M I X

Successfully growing Non-Time Deposits

79

Net Interest Income of $330 Million up 12.1% year-over-year

Net Interest Margin*of 4.22% for 2017, 0.60% better than peers

*Fully Tax Equivalent

80

Heartland’s net interest income has doubled in last five years

As of December 31, 2017

$150 $164 $203

$234

$295 $330

$0

$50

$100

$150

$200

$250

$300

$350

2012 2013 2014 2015 2016 2017

Mill

ions

N E T I N T E R E S T I N C O M E

81As of December 31, 2017Source: SNL Financial

T O P Q U A R T I L E N E T I N T E R E S T M A R G I N *

3.00%

3.20%

3.40%

3.60%

3.80%

4.00%

4.20%

4.40%

2012 2013 2014 2015 2016 2017Heartland Financial USA, Inc BHC $1 to $10 Billion Peers in 10 State Footprint High Performance Peer Group

4.22%

*Fully Tax-Equivalent

Net Interest Margin exceeds peers by 60 basis points

82

Non-Performing Assetsof $75 million remain below 1% of total assets

Low Net Charge-Offs of $14.2 million or 0.24% of average loans for 2017

83As of December 31, 2017Source: SNL Financial

0.71%

0.51%

0.00%

0.50%

1.00%

1.50%

2.00%

2.50%

2012 2013 2014 2015 2016 2017

Heartland Financial USA, Inc. BHC $1 to $10 Billion Peers in 10 State Footprint High Performance Peer Group

N O N P E R F O R M I N G A S S E T S T O T O T A L A S S E T S

0.76%

Non-performing assets well below 1% of Total Assets

84As of December 31, 2017

$8.2 $9.7

$14.5

$12.7 $11.7

$15.6

$6.3 $6.7

$14.7

$5.5 $6.1

$14.2

$-

$5.0

$10.0

$15.0

$20.0

2012 2013 2014 2015 2016 2017

Provision Net Charge Offs

L O A N P R O V I S I O N A N D N E T C H A R G E - O F F S

Provision and Charge-Offs remain low

85

Total Equity Capital of $991.5 Million increased $250.5 Million or 34% during 2017

Regulatory Capital exceeds Regulatory Well Capitalized levels by $242 Million

86

Regulatory capital ratios comfortably exceed all well-capitalized guidelines

12/31/16 12/31/17Well Capitalized

Regulatory/Internal Guidelines

Risk Based Capital/Risk Weighted Avg. Assets 14.01%

13.51% 10.0%

Tier 1 Capital/Risk Weighted Avg. Assets 11.93%

11.76% 8.0%

Tier 1 Common/Risk Weighted Avg. Assets 10.09%

10.13% 6.5%

Leverage Ratio 9.28% 9.25% 5.0%

Tangible Common Equity/Tangible Assets 7.28%

7.53% 7.0%-8.0%Guideline

R E G U L A T O R Y C A P I T A L R A T I O S

87

Leveraging economies of scale

As of December 31, 2017Source: SNL Financial for Peer / As reported for Heartland

61.53%

56.06%

50%

55%

60%

65%

70%

75%

80%

2012 2013 2014 2015 2016 2017

Heartland Financial USA, Inc. BHC $1 to $10 Billion Peers in 10 State Footprint High Performance Peer Group

E F F I C I E N C Y R A T I O

65.40%

88

Master strategy of balanced growth and profit

Solid Midwest franchise balanced with a Western franchise which enhances growth potential and provides diversification of risk

Sound balance sheet with strong capital and solid credit quality

Strong, stable net interest margin

Never a loss year

Questions

90

Inspectors’ Report onVoting Results

B U S I N E S S M E E T I N G

91

Shareowners

Customers

Directors

Staff Market Makers,

Accountants, and Legal Counsel

Thank You.

92

AdjournmentBusiness Meeting

Please join us for cocktails and hors d’oeuvres

Thank you.

Slide Number 1Slide Number 2Slide Number 3Slide Number 4Slide Number 5Slide Number 6Slide Number 7Safe HarborSlide Number 9Slide Number 10Slide Number 11Slide Number 12Slide Number 13Slide Number 14Slide Number 15Slide Number 16Slide Number 17Slide Number 18Slide Number 19Slide Number 20Slide Number 21Slide Number 22Slide Number 23Slide Number 24Slide Number 25Slide Number 26Slide Number 27Slide Number 28Slide Number 29Slide Number 30Slide Number 31Midwest — StableWest: High GrowthSlide Number 34Slide Number 35Slide Number 36Slide Number 37Slide Number 38Slide Number 39Slide Number 40Slide Number 41Slide Number 42Slide Number 43Slide Number 44Slide Number 45Slide Number 46Slide Number 47Slide Number 48Slide Number 49Slide Number 50Slide Number 51Slide Number 52Slide Number 53Commercial Lending�Business Solutions Commercial CardSlide Number 56Slide Number 57Slide Number 58Slide Number 59Slide Number 60Slide Number 61Slide Number 62Slide Number 63Slide Number 64Slide Number 65Slide Number 66Slide Number 67Slide Number 68Slide Number 69Slide Number 70Slide Number 71Slide Number 72Slide Number 73Slide Number 74(May 2018)Slide Number 76A diverse and growing loan portfolio fueled by organic and acquired growthSlide Number 78Slide Number 79Heartland’s net interest income has doubled in last five years�Slide Number 81Slide Number 82Slide Number 83Slide Number 84Slide Number 85Regulatory capital ratios comfortably exceed all well-capitalized guidelinesLeveraging economies of scale Slide Number 88 Slide Number 90Thank You.Business Meeting Slide Number 94