Investor Presentation NASDAQ SAL Forward Looking Statements Investor

Investor Presentation NASDAQ: SAL

Forward Looking Statements Investor Information Richard J. Cantele, Jr. President Chief Executive Officer rcantele@salisburybank. com 860 -596 -2101 Donald E. White Executive Vice President Chief Financial Officer dwhite@salisburybank. com 860 -596 -2102 Shelly L. Humeston Senior Vice President Secretary shumeston@salisburybank. com 860 -596 -2104 Forward-Looking Statements This presentation contains certain statements that may be considered “forward-looking statements” within the meaning of Section 27 A of the Securities Act of 1933, as amended, and Section 21 E of the Securities Exchange Act of 1934, as amended. Actual results, performance or achievements of Salisbury may differ materially from those discussed in these forward-looking statements. We refer you to the documents Salisbury files from time to time with the Securities and Exchange Commission, especially the Company’s last filed Form 10 -K and Form 10 -Q. These documents contain and identify important factors that could cause actual results to differ materially from those contained in our projections or forward- looking statements. You should carefully review all of these factors, and you should be aware that there may be other factors that could cause these differences. These forward-looking statements were based on information, plans and estimates at the date of this presentation, and Salisbury assumes no obligation to update forward-looking statements to reflect changes in underlying assumptions or factors, new information, future events or other changes. Unaudited data All of the financial data presented herein is unaudited. Annualized, pro forma, projected and estimated numbers are used for illustrative purpose only, are not forecasts and may not reflect actual results. 2

Who We Are Corporate Overview § § § Branch Footprint Full service community banking institution offering consumer and business banking products and services as well as trust and wealth advisory services with roots dating back to 1848 Operating footprint includes 13 banking locations across four counties in CT, MA and NY (“Operating Counties”)¹ #2 Community bank deposit market share in combined four counties served Franchise extends to within 50 miles of New York metropolitan market 20 plus year history of dividend payments Seasoned and experienced management team Key Statistics Litchfield County – Deposit Market Share Financial Information (as of or for quarter ending June 30, 2016) (unaudited) Rank Company Name Total Assets ($000 s) $913, 494 Net Loans ($000 s) $749, 523 Total Deposits ($000 s) $754, 471 Total Shareholder’s Equity ($000 s) $92, 584 Tangible Book Value per Common Share ($) $28. 28 Wealth Assets Under Administration ($000 s) $424, 702 Net Income ($000 s) FTEs Common Stock Price ($) $1, 735 178 $29. 78 Market Capitalization ($MMs) $82. 1 Price / Tangible Book Value (%) 105. 3 (1) Operating Counties consist of Litchfield County, CT; Dutchess and Orange Counties in NY; and Berkshire County in MA Source: SNL Financial - Note: Deposit Market Share as of June 30, 2015 (Grey italics indicate super regional and money center institutions ) Total Market Share (%) 1 Webster Financial Corp. (CT) 16. 44 2 Torrington SB (CT) 13. 12 3 Union SB (CT) 11. 83 4 Thomaston SB (CT) 11. 81 5 Salisbury Bancorp Inc. (CT) 8. 89 6 Bank of America Corp. (NC) 8. 52 7 Connecticut MHC (CT) 7. 80 8 Toronto-Dominion Bank 4. 82 9 People's United Financial Inc. (CT) 4. 71 10 Wells Fargo & Co. (CA) 4. 35 3

History of Our Business Acquisition of Riverside Bank (Assets: $239. 0 MM) $16 MM SBLF Union Savings Bank branch acquisition (Deposits: $20. 0 MM) Redemption $1 200 Wealth AUA pass over $380 MM Issuance of $10 MM Subordinated Debt $16 MM of perpetual preferred shares through SBLF and redemption of $8. 8 MM under TARP $1 000 Opened Great Barrington, MA branch $913, 5 Webster Bank NA branch acquisition (Deposits: $11. 5 MM) $891, 2 $855, 4 $8. 8 MM of perpetual preferred shares under TARP Dollars ($MM) $800 Acquisition of Canaan National Bancorp, Inc. (Assets: $107. 2 MM) $600 New York Community Bank branch acquisition (Deposits: $3. 5 MM) $562, 3 $575, 5 People’s Bank branch acquisition (Deposits: $26. 4 MM) Opened Sharon, CT Opened Salisbury, branch CT branch $400 Merger with Robbins Burrall Trust Company (1874) $200 $609, 3 $600, 8 $587, 1 $495, 8 $423, 1 $450, 3 $462, 0 $283, 6 $293, 1 $205, 0 Salisbury Savings Society founded $0 1848 1925 1963 1983 2001 2002 2004 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 Q 2 2016 4

Core Businesses • • Retail and Business Deposits Electronic Banking Services • • Mobile Debit/Credit Card Remote Capture Retail and Business Banking • • Cash Management • Retail Lending • • Individuals Families Business Loans Commercial Mortgages Lines of Credit Government Guaranteed Loans Letters of Credit Business Lending Mortgage Loans Home Equity Consumer Loans Construction Loans Trust and Wealth Advisory Services • • • Investment Management Trust and Estate Services Financial Planning Retirement Plan Advisory Private Banking 5

Executive Management Team Over 270 Years of Financial Services Experience Years with SAL Years in Banking/ Financial Services 35 35 <1 39 28 35 1 32 6 27 3 36 11 39 3 36 Richard J. Cantele, Jr. – President and Chief Executive Officer § Joined the Company in 1981, became President and Director in 2005 and became CEO in 2009 § Formerly Salisbury Bank President and COO James E. Cotter – Executive Vice President and Chief Operating Officer § Prior experience includes Naugatuck Valley Savings and Loan, Newtown Savings Bank and Fairfield Savings Bank Todd M. Clinton – Executive Vice President and Chief Risk Officer § Prior experience includes First National Bank of Amenia (NY) John M. Davies – Regional President for New York and Chief Lending Officer § Prior experience includes M&T Bank and Bank of New York Steven M. Essex – Executive Vice President, Head of Trust Wealth Advisory Services § Prior experience includes Connecticut National Bank Richard P. Kelly – Executive Vice President and Chief Credit Officer § Prior experience includes Berkshire Bank and Community Bank N. A. Elizabeth A. Summerville – Executive Vice President and Chief Retail Officer § Prior experience includes North American Bank (CT), New England Bank and Trust Company (CT), and National Commercial Bank and Trust Company (NY) Donald E. White – Executive Vice President and Chief Financial Officer § Previously served as Managing Director with Sandler O’Neill + Partners 6

Market Demographics by County Projected Household Income Change Median Household Income $80 000 $73, 9 $73, 3 14, 00 $70, 2 $70 000 $60 000 11, 84 12, 00 $55, 6 $54, 3 % Change $50 000 10, 00 $40 000 $30 000 8, 93 7, 77 7, 11 8, 00 6, 00 4, 17 4, 00 $20 000 2, 00 $10 000 $0 0, 00 Litchfield Berkshire Dutchess Orange Aggregate: National Litchfield § Litchfield County’s median household income is 1% higher than the CT average § Dutchess County’s median household income is 21% higher than the NY average § Orange County’s median household income is 16% higher than the NY average 5, 00 4, 60 Orange Aggregate: National 4, 70 4, 40 4, 00 % Unemployment Litchfield County’s prestigious private and public school systems attract affluent individuals to the county Dutchess Unemployment Rate Commentary § Berkshire 3, 80 3, 90 Dutchess Orange 3, 00 2, 00 1, 00 0, 00 Litchfield Source: Department of Labor Statistics 6/30/2016 Berkshire Aggregate: National 7

Growth Opportunities Within Franchise Footprint Dutchess County, NY Litchfield County, CT $568 $512 $511 $369 $338 $204 $200 000 $0 to ing rr To B n. S $0 . orp $200 000 & se $600 000 1% Total Market Share; 8% of SAL Total Deposits $60 . . . l k n k C Inc Inc cia an an nio MH an rp rp cs mi y. B e. B al n o o v t i i o v i c c i c S t n D n n l n s. F to. Ba Ba era mu cia ina en ry an ron ne F tiz om BT -op i u n o o C N i b C T C F s lis n. O ire am eld Sa tai sh sfi Ad t k un t r i o P M Be $543 $516 2% Total Market Share; 8% of SAL Total Deposits $433 $411 $400 000 $337 $272 $200 000 $53 $157 $60 $0 Source: SNL Financial Market as of 6/30/2015 . Co Orange County, NY $110 $100 000 $201 . a C o. on nc orp ric MH ini &C p. I y. C r p me m o e o r o A g c K o r a a f D n a h o nc Ba TB s. F nto Ba nk n. C ell M& ury Ba ck oro rga b W e T o s b li M ine Sa JP Rh C nk $356 $212 $198 $357 $200 000 B n. S $300 000 $407 $226 Deposits ($MM) $386 $375 5% Total Market Share; 30% of SAL Total Deposits $400 000 Berkshire County, MA $400 000 $569 $457 . Fi. ca on HC Inc eri ini ted t. M rp i io to m m u o n n s o a U U f. A D tic nc 's ec om to. Ba ko ple nn Th on ry an r o o u B o e C b T P lis Sa B n. S $579 $600 000 $385 $400 000 $654 9% Total Market Share; 51% of SAL Total Deposits ($MM) $600 000 $0 . . rp. ial nc SB Inc orp Corp Inc Co nanc orp I nc en rp rp k a a d o o l i c n B F ri nc nc nc Wa T Ba ns ing Ame Ba Ba Ba & erl ty ize re ry f t i t M n i u o S h b C ou nk lis rks e. C Ba Sa Be ng a Or 8

Balance Sheet Composition as of 6/30/2016 Assets: $913, 494 Liabilities: $820, 910 ($000) 4% 7% 5% 9% 1% 15% 77% 82% Total Net Loans: 82% Total Investments: 9% Non Maturity Deposits: 77% Time Deposits: 15% Cash and Due: 4% Other: 5% Borrowings: 7% Other: 1% 9

Securities, Loan, and Deposit Portfolio Securities Portfolio Composition (as of 6/30/16) 2% 5% 3% 2% Loan Portfolio Composition (as of 6/30/16) 4% 1% 13% 19% 38% 26% 49% 33% Treasury Notes: 13% Govt. Agencies: 49% Non-Agency: 5% Other: 2% Muncipal Bonds: 26% CMO Govt. Agencies: 2% SBA Bonds: 3% 5% Residential 1 -4 Family: 38% Home Equity LOC: 5% CRE & Multi Family RE: 33% Comm, Financial & Agricultural: 19% Construction & Development: 4% Other Consumer: 1% Deposit Portfolio Composition (as of 6/30/16) 16% 25% 16% 43% Demand (Non Int. Bearing): 25% Demand (Interest Bearing): 16% Savings & MMDA: 43% Time: 16% 10

Capital Overview of Salisbury Bancorp, Inc. Tier 1 Ratio 1 Leverage Ratio 2 18, 00 14, 88 15, 20 11, 17 12, 00 10, 86 9, 00 6, 00 9, 87 10, 65 8, 56 8, 77 2015 Q 2 2016 8, 00 6, 00 2, 00 0, 00 2011 15, 97 2012 2013 2014 2015 Q 2 2016 2011 2012 2013 2014 Total Capital Ratio 3 Tangible Common Equity / Tangible Assets 4 16, 63 10, 00 16, 46 14, 27 13, 51 8, 00 13, 08 Percentage 15, 00 Percentage 10, 00 9, 45 4, 00 3, 00 18, 00 12, 31 12, 00 13, 38 Percentage 15, 00 14, 00 15, 46 12, 00 9, 00 7, 69 8, 04 8, 37 8, 64 8, 68 2014 2015 Q 2 2016 6, 69 6, 00 4, 00 6, 00 2, 00 3, 00 0, 00 2011 2012 2013 1 Capital Ratio: Tier 1 Capital / Risk Weighted Assets 2 Leverage Ratio : Tier 1 Capital / Average Assets 3 Total Risk Based Capital : Total Capital / Risk Weighted Assets 4 TCE / TA : Tangible Common Equity / Tangible Assets 2014 2015 Q 2 2016 2011 2012 2013 1 Tier 11

Credit Metrics NCOs / Average Loans 0, 40 Texas Ratio 45, 00 0, 37 0, 35 40, 00 0, 35 0, 25 Percentage 0, 30 0, 21 0, 18 0, 20 0, 15 0, 10 27, 30 30, 00 29, 25 26, 42 25, 00 20, 00 5, 00 0, 00 2011 2012 2013 2014 2015 2011 Q 2 2016 1, 78 1, 20 1, 82 1, 68 1, 60 2013 2014 2015 Q 2 2016 1, 29 1, 20 1, 00 0, 80 1, 09 1, 11 1, 06 1, 00 Percentage 1, 45 1, 40 2012 Loan Loss Reserves / Gross Loans NPAs / Assets Percentage 31, 43 10, 00 1, 80 33, 80 15, 00 0, 08 0, 05 2, 00 34, 98 35, 00 0, 80 0, 79 0, 81 2014 2015 0, 76 0, 60 0, 40 0, 20 0, 00 2011 2012 2013 2014 2015 Q 2 2016 2011 2012 2013 Q 2 2016 12

Balance Sheet Management $900 4, 10% $800 16% 3, 98% 13% 4, 00% $700 3, 90% $600 3, 80% Dollars ($MM) 20% $500 3, 76% 25% 3, 70% 3, 63% $400 87% 84% $300 3, 60% 3, 57% 80% $200 3, 50% 75% 3, 40% $100 $ 3, 30% 2013 2014 Average Loans 2015 Average Investments Q 2 2016 (YTD) Net Interest Margin 13

Why Invest? Common Dividends per Share Regular $1, 30 Dividend yield 6, 00% $1, 25 5, 50% $1, 20 5, 00% $1, 15 $1, 11 $1, 12 $1, 12 4, 50% $1, 10 $1, 07 $1, 05 4, 00% $1, 03 3, 50% $1, 00 $0, 99 3, 00% $0, 95 2, 50% $0, 90 $0, 85 Stock Price ($) (at period end) 2, 00% 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 38. 00 37. 60 34. 35 22. 05 21. 75 25. 22 23. 35 23. 34 26. 89 27. 34 33. 48 Q 2 2016 29. 78 14

Why Invest? Core ROAA 1 ROATCE 2 0, 80 12, 00 0, 77 Core ROATCE (%) Core ROAA (%) 1, 00 0, 65 0, 60 0, 40 0, 20 9, 49 10, 00 8, 77 8, 00 6, 00 4, 00 2, 00 0, 00 Salisbury Bancorp, Inc. Peer Median Efficiency Ratio 3 74, 68 80, 00 Efficiency Ratio (%) 66, 51 60, 00 40, 00 20, 00 Salisbury Bancorp, Inc. Peer Median Source: SNL Financial, data as of 6/30/2016. Peers defined as New England NY public banks with approximately $625 million to $1. 5 billion in Assets and a TCE/TA ratio below 11. 0%. 1 Core ROAA – Core income return on average assets 2 ROATCE – Net income adjusted for tax-affected amortization of intangibles, as a percent of average tangible common equity 3 Efficiency Ratio – Noninterest expense beforeclosed property expense, amortization of intangibles, and goodwill impairments as a percentage of net interest income and noninterest revenues, excluding only gains from securities transactions & nonrecurring items. 15

Why Invest? Price / Tangible Book Value 1 Price / Core EPS 2 20, 00 Price / Core Earnings (x) Price /Tangible Book Value (%) 150, 00 118, 27 125, 00 105, 30 100, 00 75, 00 17, 72 16, 00 12, 16 12, 00 50, 00 8, 00 4, 00 0, 00 Salisbury Bancorp, Inc. Peer Median Dividend Yield 3 Dividend Yield (%) 4, 00 3, 76 3, 00 2, 00 1, 38 1, 00 0, 00 Salisbury Bancorp, Inc. Peer Median Source: SNL Financial, data as of 6/30/2016. Peers defined as New England NY public banks with approximately $625 million to $1. 5 billion in Assets and a TCE/TA ratio below 11. 0%. 1 Price/TBV – Price as a percentage of tangible book value per share. Tangible book value is calculated using financial period end tangible common equity & common shares outstanding values. 2 Price/Core EPS – Price as a multiple of core earnings per share. 3 Dividend Yield – The most recent dividend, annualized and expressed as a percent of a security’s price. 16

Why Invest? Net Interest Margin Efficiency Ratio 4, 10 90, 00 3, 99 4, 00 80, 00 70, 00 68, 16 69, 38 2011 Y 2012 Y 3, 80 3, 71 3, 70 3, 64 3, 57 3, 60 63, 03 66, 51 50, 00 40, 00 30, 00 20, 00 3, 51 3, 45 3, 50 10, 00 3, 40 0, 00 2011 Y 2012 Y 2013 Y 2014 Y 2015 Y 2016 Q 2 ROAA 0, 94 0, 80 8, 00 0, 66 2016 Q 2 9, 36 7, 22 7, 58 7, 01 7, 00 0, 60 0, 37 0, 40 2015 Y 9, 00 Percentage 0, 64 2014 Y 10, 00 0, 77 0, 61 2013 Y ROAE 1, 00 Percentage 70, 70 60, 00 Percentage 3, 90 78, 41 6, 00 5, 00 3, 88 4, 00 3, 00 0, 20 2, 00 1, 00 0, 00 2011 Y 2012 Y 2013 Y 2014 Y 2015 Y 2016 Q 2 17

Why Invest? As of ($ in millions) 12/31/2013 12/31/2014 12/31/2015 Q 2 2016 Assets 587. 1 855. 4 891. 2 913. 5 Loans receivable, net 438. 1 673. 3 699. 2 749. 5 Deposits 477. 4 715. 4 754. 5 Shareholder Information 12/31/2013 12/31/2014 12/31/2015 Q 2 2016 Price ($) 26. 89 27. 34 33. 48 29. 78 Tangible book value per common share ($) 27. 12 25. 83 27. 69 28. 28 Price/Book (%) 80. 8 86. 6 101. 6 88. 7 Market capitalization (millions) 46. 0 74. 3 91. 5 82. 1 Common shares outstanding 1, 710 2, 721 2, 733 2, 758 6. 9 18. 4 18. 7 19. 3 10. 9 6. 6 9. 1 9. 4 Insider Ownership (%) Institutional Ownership (%) 18

Why Invest? Demonstrated organic growth and a proven acquirer Valuable Franchise Engaged and experienced Management Team and Board Committed to a strong regulatory capital position Consistent dividend and high dividend yield Salisbury is a strong value proposition when compared to peer metrics 19

Strategic Priorities § Strategic acquisitions ü Wealth advisory ü Branches ü Whole bank § Profitably expand current branch footprint § Expand existing client relationships § Goal to be a consistently high performing community bank 20

Appendix

Appendix Peer Institution Name Ticker Symbol Total Assets ($000's) P/TBV (%) EPS ($) Div Yield (%) Bankwell Financial Group, Inc. BWFG 1, 516, 120 124. 2 0. 38 0. 91 Carver Bancorp, Inc. CARV 697, 556 243. 3 0. 12 0. 00 Darien Rowayton Bank DRWB 604, 0141 NA NA 0. 00 Evans Bancorp, Inc. EVBN 1, 021, 598 121. 9 0. 46 3. 08 Greene County Bancorp, Inc. (MHC) GCBC 868, 781 185. 6 0. 28 2. 27 Katahdin Bankshares Corporation KTHN 721, 901 78. 2 0. 51 3. 57 Lyons Bancorp, Inc. LYBC 928, 000 155. 0 NA 3. 31 Northway Financial, Inc. NWYF 925, 065 87. 9 0. 48 3. 02 Patriot National Bancorp, Inc. PNBK 653, 055 82. 5 0. 16 0. 00 Provident Bancorp, Inc. (MHC) PVBC 760, 425 137. 0 0. 15 0. 00 SI Financial Group, Inc. SIFI 1, 517, 617 114. 7 0. 28 1. 21 Westfield Financial, Inc. WFD 1, 306, 305 97. 6 0. 05 1. 56 Salisbury Bancorp, Inc. SAL 913, 494 105. 3 0. 63 3. 76 Source: SNL Financial as of Q 2 2016. Peers defined as New England NY public banks with approximately $625 million to $ 1. 5 billion in Assets and a TCE/TA ratio below 11. 0%. 1 Data as of Q 1 2016 22

September 2016 NASDAQ: SAL