Earnings release
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First Horizon Corporation Reports Third Quarter 2026 Results and Announces Strategic Balance Sheet Changes to Support Earnings and Growth MEMPHIS, TN (October 15, 2026) – First Horizon Corporation (NYSE: FHN or “First Horizon”) today reported financial results for the third quarter of a net loss available to common shareholders of $(94) million or loss per share of $(0.20). These results reflect the impact of strategic actions to further align the balance sheet with the Company's growth priorities. During the quarter, the Company began evaluating the possibility of selling ~$4.5 billion of select lower yielding consumer mortgages and, in early October, entered into an agreement to sell these mortgages. This transaction will be accretive to earnings on a go forward basis and will provide balance sheet flexibility to support future loan growth. The transaction is expected to settle early in the fourth quarter. Excluding notable items, adjusted earnings per share for third quarter 2026 was $0.53, down $0.01 from second quarter 2026 and up $0.02 from third quarter 2025. Reported results include the impacts of notable items totaling $0.73 per share, or $347 million after tax, primarily related to the reclassification of targeted mortgage loans to held for sale in relation to the pending mortgage portfolio sale. CEO Commentary “This quarter’s results are a testament to our disciplined approach and clear strategic priorities,” said Bryan Jordan, Chairman, President and CEO of First Horizon Corporation. “Average client deposit balances increased $1.3 billion in the quarter, and we continue to focus on growing and maintaining full client relationships and deploying capital where it best serves long-term value creation. Looking ahead, we remain committed to executing our strategy and delivering sustainable growth and value for our clients, associates, and shareholders.” Key Financial Results 3Q26 3Q25 ($ in millions, except per share) Reported Notable Items Adjusted * Reported Total revenue - FTE $ 410 $ 473 $ 883 $ 893 Noninterest expense 529 (8) 521 551 Pre-provision net revenue (PPNR) 3 (122) 481 359 339 Provision (benefit) for credit losses (25) 45 20 (5) Income/(loss) before income taxes (97) 436 339 344 Income tax expense (benefit) (18) 89 71 78 Net income/(loss) (79) 347 268 266 Net income/(loss) available to common shareholders (94) 347 253 254 Diluted EPS $ (0.20) $ 0.73 $ 0.53 $ 0.50 Return on average assets (0.37) % 1.25 % 1.29 % Return on average common equity (“ROCE") (4.3) 11.7 11.7 Return on average tangible common equity (“ROTCE”)4 (5.3) 14.4 14.5 Efficiency Ratio 129.6 % 58.9 % 61.9 % * "Adjusted" results, along with return on tangible common equity, tangible book value per share, PPNR, ACL to loans ratio and certain other financial measures, are non-GAAP financial measures. All references to loans include leases. All references to earnings per share are based on diluted shares. NII, total revenue, NIM, and PPNR are presented on a fully taxable equivalent ("FTE") basis. Capital ratios are preliminary. Please see page 3 for information on our use of non-GAAP measures and a reconciliation of these measures to GAAP beginning on page 19. See footnote disclosures on page 18. 1
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Safety & Soundness Capital CET1 ratio was 10.3%, a decrease from second quarter 2026. The decline in capital was driven by notable items and primarily reflects the impacts of the reclassification of certain mortgage loans to held for sale. Asset Quality Provision benefit was $25 million, versus expense of $15 million in second quarter 2026. Excluding the impact of the pending mortgage portfolio transaction, provision for credit losses expense was $20 million, up from $15 million in the prior quarter. Net charge-offs were $36 million or 22 basis points, up from $33 million or 20 basis points in the prior quarter. Nonperforming loans of $482 million decreased $49 million. The ALLL to loans ratio decreased 1 basis point to 1.08%, and the ACL to loans ratio increased 1 basis point to 1.25% due to reclassification of certain mortgage loans associated with the pending portfolio sale. Profitability Net Interest Income & NIM Net interest income (FTE) increased $7 million to $686 million and net interest margin of 3.48% decreased 1 basis point. NII increased primarily due to higher average loan yield of 5.73%, which increased 6 basis points in the quarter. The NIM decrease was driven by higher interest bearing deposit costs of 2.45%, a 12 basis points increase, associated with higher average brokered deposits and higher customer deposit costs. Fees & Expenses Noninterest income decreased $487 million to a loss of $276 million primarily due to the recognition of a loss associated with the reclassification of select mortgage loans to held for sale. Adjusted noninterest income of $197 million decreased $14 million, driven by decreased deferred compensation, partially offset by increases in fixed income, service charges and fees, brokerage, trust, and insurance, and card and digital banking fees. Noninterest expense of $529 million decreased $2 million, driven by decreased deferred compensation expenses, partially offset by increases in occupancy and equipment, and other noninterest expense related to new account promotions. Growth Loans & Leases Average loan and lease balances of $64.5 billion decreased $206 million from the prior quarter, while period-end balances were $59.8 billion, down $5.5 billion from second quarter 2026. Loans to mortgage companies (LMC) decreased by $891 million at period- end, and consumer real estate decreased by $4.6 billion driven by the reclassification of certain mortgage loans to held for sale related to the pending mortgage portfolio sale. Deposits Average deposits of $68.6 billion increased $1.8 billion from second quarter 2026. Period-end deposits of $67.7 billion decreased $372 million driven primarily by a decrease in brokered CDs. Average client deposit balances increased $1.3 billion in the quarter and average brokered deposit balances were up $500 million. * "Adjusted" results, along with return on tangible common equity, tangible book value per share, PPNR, ACL to loans ratio and certain other financial measures, are non-GAAP financial measures. All references to loans include leases. All references to earnings per share are based on diluted shares. NII, total revenue, NIM, and PPNR are presented on a fully taxable equivalent ("FTE") basis. Capital ratios are preliminary. Please see page 3 for information on our use of non-GAAP measures and a reconciliation of these measures to GAAP beginning on page 19. See footnote disclosures on page 18. 2
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Forward-Looking Statements This document contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, with respect to FHN's beliefs, plans, goals, expectations, and estimates. Forward-looking statements are not a representation of historical information, but instead pertain to future operations, strategies, financial results, or other developments. Forward-looking statements often use words such as “believe,” “expect,” “anticipate,” “intend,” “estimate,” “should,” “is likely,” “will,” “going forward,” and other similar expressions that indicate future events and trends. Forward-looking statements are necessarily based upon estimates and assumptions that are inherently subject to significant business, operational, economic, and competitive uncertainties and contingencies, many of which are beyond FHN’s control, and many of which, with respect to future business decisions and actions (including acquisitions and divestitures), are subject to change and could cause FHN’s actual future results and outcomes to differ materially from those contemplated or implied by forward-looking statements or historical performance. While there is no assurance that any list of uncertainties and contingencies is complete, examples of factors which could cause actual results to differ from those contemplated by forward-looking statements or historical performance include those mentioned in this document; in Items 2.02 and 7.01 of FHN’s Current Report on Form 8-K to which this document has been furnished as an exhibit; in the forepart, and in Items 1, 1A, and 7, of FHN’s most recent Annual Report on Form 10- K; and in the forepart, and in Item 1A of Part II, of FHN’s Quarterly Report(s) on Form 10-Q filed after that Annual Report. Any forward-looking statements made by or on behalf of FHN speak only as of the date they are made, and FHN assumes no obligation to update or revise any forward-looking statements that are made in this document or in any other statement, release, report, or filing from time to time. Actual results could differ and expectations could change, possibly materially, because of one or more factors, including those factors listed in this document or the documents mentioned above, or other factors not listed. Throughout this document, numbers may not total due to rounding, references to EPS are fully diluted, and capital ratios for the most recent quarter are estimates. Use of non-GAAP Measures and Regulatory Measures that are not GAAP Certain measures included in this report are “non-GAAP,” meaning they are not presented in accordance with generally accepted accounting principles in the U.S. and also are not codified in U.S. banking regulations currently applicable to FHN. Although other entities may use calculation methods that differ from those used by FHN for non-GAAP measures, FHN’s management believes such measures are relevant to understanding the financial condition, capital position, and financial results of FHN and its business segments. Non-GAAP measures are reported to FHN’s management and Board of Directors through various internal reports. The non-GAAP measures presented in this earnings release are fully taxable equivalent measures, pre-provision net revenue ("PPNR"), return on average tangible common equity (“ROTCE”), tangible common equity (“TCE”) to tangible assets (“TA”), tangible book value ("TBV") per common share, and various consolidated and segment results and performance measures and ratios adjusted for notable items. Presentation of regulatory measures, even those which are not GAAP, provides a meaningful basis for comparability to other financial institutions subject to the same regulations as FHN, as demonstrated by their use by banking regulators in reviewing capital adequacy of financial institutions. Although not GAAP terms, these regulatory measures are not considered “non-GAAP” under U.S. financial reporting rules as long as their presentation conforms to regulatory standards. Regulatory measures used in this financial supplement include: common equity tier 1 capital ("CET1"), generally defined as common equity less goodwill, other intangibles, and certain other required regulatory deductions; tier 1 capital, generally defined as the sum of core capital (including common equity and instruments that cannot be redeemed at the option of the holder) adjusted for certain items under risk-based capital regulations; and risk-weighted assets, which is a measure of total on- and off-balance sheet assets adjusted for credit and market risk, used to determine regulatory capital ratios. Refer to the tabular reconciliation of non-GAAP to GAAP measures and presentation of the most comparable GAAP items, beginning on page 19. 3
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Conference Call Information Analysts, investors and interested parties may call toll-free starting at 8:15 a.m. CT on October 15, 2026, by dialing 1-833-461-5787 (if calling from the U.S.) and entering access code 391 852 446. The conference call will begin at 8:30 a.m. CT. Participants can also opt to listen to the live audio webcast at https://ir.firsthorizon.com/events-and-presentations/ default.aspx. A replay of the webcast will be available on our website on October 15 and will be archived on the site for one year. First Horizon Corporation (NYSE: FHN) , with $84.3 billion in assets as of September 30, 2026 , is a leading regional financial services company, dedicated to helping our clients, communities and associates unlock their full potential with capital and counsel. Headquartered in Memphis, TN, the banking subsidiary First Horizon Bank operates in 12 states concentrated in the southern U.S. The Company and its subsidiaries offer commercial, private banking, consumer, small business, wealth and trust management, retail brokerage, capital markets, fixed income, and mortgage banking services. First Horizon has been recognized as one of the nation's best employers by Fortune and Forbes magazines and a Top 10 Most Reputable U.S. Bank. More information is available at www.FirstHorizon.com. Contact: Investor Relations - Tyler Craft - Tyler.Craft@firsthorizon.com Media Relations - Beth Ardoin - Beth.Ardoin@firsthorizon.com 4
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CONSOLIDATED INCOME STATEMENT Quarterly, Unaudited 3Q26 Change vs. ($ in millions, except per share data) 3Q26 2Q26 1Q26 4Q25 3Q25 2Q26 3Q25$ % $ % Interest income - taxable equivalent1 $ 1,057 $ 1,033 $ 1,008 $ 1,054 $ 1,081 $ 24 2 % $ (24) (2) % Interest expense - taxable equivalent1 371 354 337 375 403 17 5 (33) (8) Net interest income - taxable equivalent 686 679 670 679 678 7 1 8 1 Less: Taxable - equivalent adjustment 3 3 3 3 3 — 2 — (9) Net interest income 683 676 667 676 674 7 1 9 1 Noninterest income: Fixed income 49 46 53 57 57 3 7 (8) (15) Mortgage banking 8 9 9 10 15 (1) (15) (7) (48) Brokerage, trust, and insurance 46 45 43 41 39 1 1 7 17 Service charges and fees 60 59 58 64 57 1 2 2 4 Card and digital banking fees 19 18 18 18 19 1 4 — 1 Deferred compensation income9 (2) 15 (3) 3 8 (17) (111) (10) (120) Loss on pending sale of mortgage loans11 (473) — — — — (473) NM (473) NM Securities gains/(losses) (1) — (1) — — (1) NM (1) NM Other noninterest income 18 18 16 18 19 — (2) (1) (3) Total noninterest income (276) 211 195 212 215 (487) NM (491) NM Total revenue 407 887 862 888 889 (480) (54) (482) (54) Noninterest expense: Personnel expense: Salaries and benefits 216 215 211 213 209 1 — 7 4 Incentives and commissions 79 76 79 87 79 3 4 — — Deferred compensation expense9 — 13 (2) 3 8 (13) (100) (8) (100) Total personnel expense 295 304 289 303 296 (9) (3) (1) — Occupancy and equipment2 89 86 84 83 80 3 3 9 11 Outside services 78 79 69 95 79 (2) (2) (1) (2) Amortization of intangible assets 8 8 8 9 9 — — (1) (9) Other noninterest expense 59 53 55 55 87 6 12 (28) (32) Total noninterest expense 529 531 505 545 551 (2) — (22) (4) Pre-provision net revenue3 (122) 356 357 343 339 (478) (134) (461) (136) Provision (benefit) for credit losses (25) 15 15 — (5) (40) NM (20) NM Income/(loss) before income taxes (97) 341 342 343 344 (438) (128) (441) (128) Income tax expense (benefit) (18) 66 76 78 78 (84) (127) (96) (123) Net income/(loss) (79) 274 266 266 266 (354) (129) (345) (130) Net income attributable to noncontrolling interest 4 4 3 4 4 — 5 — (8) Net income/(loss) attributable to controlling interest (83) 271 263 262 262 (354) (131) (345) (132) Preferred stock dividends 11 10 5 5 8 — 5 3 40 Net income/(loss) available to common shareholders $ (94) $ 260 $ 257 $ 257 $ 254 $ (354) (136) % $ (348) (137) % Common Share Data EPS $ (0.20) $ 0.55 $ 0.54 $ 0.52 $ 0.50 $ (0.75) (136) % $ (0.70) (140) % Basic shares 474 475 480 491 505 (1) — (31) (6) Diluted EPS $ (0.20) $ 0.54 $ 0.53 $ 0.52 $ 0.50 $ (0.74) (137) $ (0.70) (140) Diluted shares8 474 480 487 496 510 (6) (1) % (37) (7) % Effective tax rate 18.4 % 19.5 % 22.2 % 22.6 % 22.7 % Numbers may not total due to rounding. See footnote disclosures on page 18 and glossary of terms on page 24. 5
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ADJUSTED4 FINANCIAL DATA - SEE NOTABLE ITEMS ON PAGE 7 Quarterly, Unaudited 3Q26 Change vs. ($ in millions, except per share data) 3Q26 2Q26 1Q26 4Q25 3Q25 2Q26 3Q25 $ % $ % Net interest income (FTE)1 $ 686 $ 679 $ 670 $ 679 $ 678 $ 7 1 % $ 8 1 % Adjusted noninterest income: Fixed income 49 46 53 57 57 3 7 (8) (15) Mortgage banking 8 9 9 10 15 (1) (15) (7) (48) Brokerage, trust, and insurance 46 45 43 41 39 1 1 7 17 Service charges and fees 60 59 58 64 57 1 2 2 4 Card and digital banking fees 19 18 18 18 19 1 4 — 1 Deferred compensation income9 (2) 15 (3) 3 8 (17) (111) (10) (120) Adjusted loss on pending sale of mortgage loans — — — — — NM — NM Securities gains/(losses) (1) — (1) — — (1) NM (1) NM Adjusted other noninterest income 18 18 16 18 19 — (2) (1) (3) Adjusted total noninterest income $ 197 $ 211 $ 195 $ 212 $ 215 $ (14) (7) % $ (18) (9) % Total revenue (FTE)1 $ 883 $ 890 $ 865 $ 892 $ 893 $ (7) (1) % $ (10) (1) % Adjusted noninterest expense: Adjusted personnel expense: Adjusted salaries and benefits $ 216 $ 215 $ 211 $ 213 $ 209 $ 1 — % $ 7 4 % Adjusted incentives and commissions 76 76 79 87 79 — — (3) (4) Deferred compensation expense9 — 13 (2) 3 8 (13) (100) (8) (100) Adjusted total personnel expense 292 304 289 303 296 (12) (4) (4) (1) Adjusted occupancy and equipment2 89 86 84 83 80 3 3 9 11 Adjusted outside services 78 79 69 95 79 (2) (2) (1) (2) Amortization of intangible assets 8 8 8 9 9 — — (1) (9) Adjusted other noninterest expense 54 48 55 52 79 6 13 (25) (32) Adjusted total noninterest expense $ 521 $ 526 $ 505 $ 541 $ 542 $ (5) (1) % $ (22) (4) % Adjusted pre-provision net revenue4 $ 362 $ 364 $ 360 $ 350 $ 351 $ (2) (1) % $ 12 3 % Adjusted provision (benefit) for credit losses $ 20 $ 15 $ 15 $ — $ (5) $ 5 33 % $ 25 NM Adjusted net income/(loss) available to common shareholders $ 253 $ 262 $ 257 $ 259 $ 263 $ (9) (4) % $ (10) (4) % Adjusted Common Share Data Adjusted diluted EPS $ 0.53 $ 0.54 $ 0.53 $ 0.52 $ 0.51 $ (0.01) (2) % $ 0.02 4 % Diluted shares8 479 480 487 496 510 (1) — % (31) (6) % Adjusted effective tax rate 21.0 % 19.5 % 22.2 % 22.7 % 22.7 % Adjusted ROTCE4 14.4 % 15.3 % 15.1 % 15.0 % 15.0 % Adjusted efficiency ratio4 58.9 % 59.1 % 58.3 % 60.7 % 60.8 % Numbers may not total due to rounding. See footnote disclosures on page 18 and glossary of terms on page 24. 6
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NOTABLE ITEMS Quarterly, Unaudited (In millions) 3Q26 2Q26 1Q26 4Q25 3Q25 Summary of Notable Items: Loss on pending sale of mortgage loans (noninterest income) (473) — — — — Provision reversal related to pending sale of mortgage loans 45 — — — — Restructuring expenses (personnel expense) (3) — — — — FDIC special assessment (other noninterest expense) — — — 7 2 Other notable expenses * (5) (5) — (10) (10) Total notable items (pre-tax) $ (436) $ (5) $ — $ (3) $ (8) Tax-related notable items $ — $ — $ — $ — $ — Preferred Stock Dividend ** $ — $ 3 $ — $ — $ (3) Numbers may not total due to rounding. *3Q26 and 2Q26 each include $5 million of Visa derivative valuation expenses; 4Q25 and 3Q25 each include $10 million. ** 2Q26 and 3Q25 include deemed dividends on the redemption of Preferred Stock. IMPACT OF NOTABLE ITEMS: Quarterly, Unaudited ($ in millions, except per share data) 3Q26 2Q26 1Q26 4Q25 3Q25 Impacts of Notable Items: Noninterest income: Loss on pending sale of mortgage loans $ 473 $ — $ — $ — $ — Total noninterest income $ 473 $ — $ — $ — $ — Noninterest expense: Personnel expenses: Salaries and benefits $ — $ — $ — $ — $ — Incentives and commissions (3) — — — — Total personnel expenses (3) — — — — Other noninterest expense (5) (5) — (3) (8) Total noninterest expense (8) (5) — (3) (8) Pre-provision net revenue 481 5 — 3 8 Provision for credit losses (45) — — — — Income before income taxes 436 5 — 3 8 Provision for income taxes 89 1 — 1 2 Preferred stock dividends * — 3 — — (3) Net income/(loss) available to common shareholders $ 347 $ 1 $ — $ 2 $ 9 EPS impact of notable items $ 0.73 $ — $ — $ — $ 0.01 Numbers may not total due to rounding. * 2Q26 and 3Q25 include deemed dividends on the redemption of Preferred Stock. 7
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FINANCIAL RATIOS Quarterly, Unaudited 3Q26 Change vs. 3Q26 2Q26 1Q26 4Q25 3Q25 2Q26 3Q25 FINANCIAL RATIOS $/bp % $/bp % Net interest margin6 3.48 % 3.49 % 3.52 % 3.51 % 3.55 % (1) bp (7) bp Return on average assets (0.37) % 1.31 % 1.30 % 1.27 % 1.29 % (168) bp (166) bp Adjusted return on average assets4 1.25 % 1.33 % 1.30 % 1.28 % 1.32 % (8) bp (7) bp Return on average common equity (“ROCE”) (4.34) % 12.33 % 12.26 % 11.99 % 11.74 % (1,667) bp (1,608) bp Return on average tangible common equity (“ROTCE”)4 (5.33) % 15.21 % 15.12 % 14.82 % 14.49 % (2,054) bp (1,982) bp Adjusted ROTCE4 14.36 % 15.29 % 15.12 % 14.96 % 15.00 % (93) bp (64) bp Noninterest income as a % of total revenue (67.31) % 23.73 % 22.63 % 23.89 % 24.16 % (9,104) bp (9,147) bp Adjusted noninterest income as a % of total revenue4 22.38 % 23.65 % 22.55 % 23.80 % 24.07 % (127) bp (169) bp Efficiency ratio 129.56 % 59.88 % 58.54 % 61.33 % 61.92 % 6,968 bp 6,764 bp Adjusted efficiency ratio4 58.91 % 59.11 % 58.34 % 60.73 % 60.76 % (20) bp (185) bp Allowance for loan and lease losses to loans and leases 1.08 % 1.09 % 1.13 % 1.15 % 1.23 % (1) bp (15) bp Allowance for credit losses to loans and leases4 1.25 % 1.24 % 1.28 % 1.31 % 1.38 % 1 bp (13) bp CAPITAL DATA CET1 capital ratio* 10.3 % 10.5 % 10.5 % 10.6 % 11.0 % (12) bp (62) bp Tier 1 capital ratio* 11.7 % 11.8 % 11.9 % 11.5 % 11.9 % (11) bp (20) bp Total capital ratio* 13.2 % 13.4 % 13.7 % 13.3 % 13.8 % (18) bp (55) bp Tier 1 leverage ratio* 10.2 % 10.5 % 10.6 % 10.2 % 10.5 % (27) bp (23) bp Risk-weighted assets (“RWA”) (billions)* $ 73.9 $ 74.6 $ 73.3 $ 73.0 $ 72.0 $ (0.7) (1) % $ 1.9 3 % Total equity to total assets 10.82 % 11.21 % 11.25 % 10.90 % 11.11 % (39) bp (29) bp Tangible common equity/tangible assets (“TCE/TA”)4 7.93 % 8.31 % 8.27 % 8.37 % 8.55 % (38) bp (62) bp Period-end shares outstanding (millions)8 474 474 476 485 500 — — % (26) (5) % Cash dividends declared per common share $ 0.17 $ 0.17 $ 0.17 $ 0.15 $ 0.15 $ — — % $ 0.02 13 % Book value per common share $ 17.20 $ 17.91 $ 17.72 $ 17.53 $ 17.19 $ (0.71) (4) % $ 0.01 — % Tangible book value per common share4 $ 13.84 $ 14.53 $ 14.34 $ 14.20 $ 13.94 $ (0.69) (5) % $ (0.10) (1) % SELECTED BALANCE SHEET DATA Loans-to-deposit ratio (period-end balances) 88.34 % 95.97 % 96.83 % 95.08 % 96.23 % (763) bp (789) bp Loans-to-deposit ratio (average balances) 94.07 % 96.87 % 95.44 % 95.33 % 95.24 % (280) bp (117) bp Full-time equivalent associates 7,375 7,422 7,369 7,373 7,341 (47) (1) % 34 — % *Current quarter is an estimate. See footnote disclosures on page 18 and glossary of terms on page 24. 8
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CONSOLIDATED PERIOD-END BALANCE SHEET Quarterly, Unaudited 3Q26 Change vs. (In millions) 3Q26 2Q26 1Q26 4Q25 3Q25 2Q26 3Q25 Assets: $ % $ % Loans and leases: Commercial, financial, and industrial (C&I) $ 36,309 $ 37,296 $ 36,467 $ 35,905 $ 34,401 $ (986) (3) % $ 1,908 6 % Commercial real estate 13,692 13,595 13,420 13,563 13,674 97 1 17 — Total Commercial 50,001 50,891 49,887 49,468 48,076 (890) (2) 1,925 4 Consumer real estate 9,238 13,869 13,928 14,107 14,403 (4,632) (33) (5,165) (36) Credit card and other5 570 570 562 580 579 — — (9) (2) Total Consumer 9,807 14,439 14,490 14,688 14,982 (4,632) (32) (5,175) (35) Loans and leases, net of unearned income 59,808 65,330 64,377 64,156 63,058 (5,522) (8) (3,249) (5) Loans held for sale11 4,368 501 562 406 501 3,867 NM 3,867 NM Investment securities 8,751 9,062 9,351 9,382 9,332 (311) (3) (580) (6) Trading securities 1,873 1,417 1,812 1,904 2,070 456 32 (197) (10) Interest-bearing deposits with banks 1,798 1,158 1,116 1,125 1,228 640 55 570 46 Federal funds sold and securities purchased under agreements to resell 1,107 594 754 634 774 512 86 332 43 Total interest earning assets 77,706 78,063 77,971 77,606 76,963 (357) — 742 1 Cash and due from banks 930 1,034 889 961 912 (105) (10) 17 2 Goodwill and other intangible assets, net 1,591 1,599 1,607 1,615 1,624 (8) (1) (33) (2) Premises and equipment, net 561 545 539 544 553 16 3 8 1 Allowance for loan and lease losses (644) (709) (730) (738) (777) 65 9 132 17 Other assets 4,175 3,906 3,855 3,889 3,916 269 7 259 7 Total assets $ 84,318 $ 84,437 $ 84,132 $ 83,876 $ 83,192 $ (120) — % $ 1,125 1 % Liabilities and Shareholders' Equity: Deposits:Savings $ 25,983 $ 25,553 $ 26,007 $ 26,010 $ 26,365 $ 430 2 % $ (382) (1) % Time deposits 8,793 10,018 7,125 6,485 6,201 (1,225) (12) 2,592 42 Other interest-bearing deposits 17,324 16,508 17,440 19,158 16,936 816 5 387 2 Total interest-bearing deposits 52,100 52,078 50,572 51,653 49,502 22 — 2,598 5 Trading liabilities 997 533 666 607 662 465 87 336 51 Federal funds purchased and securities sold under agreements to repurchase 1,967 2,161 2,193 3,012 2,675 (194) (9) (708) (26) Short-term borrowings 837 842 1,975 241 1,596 (6) (1) (759) (48) Term borrowings 1,319 1,321 1,318 1,321 1,328 (2) — (9) (1) Total interest-bearing liabilities 57,220 56,935 56,725 56,835 55,763 285 1 1,457 3 Noninterest-bearing deposits 15,600 15,994 15,910 15,823 16,023 (394) (2) (422) (3) Other liabilities 2,372 2,045 2,032 2,076 2,163 327 16 209 10 Total liabilities 75,192 74,974 74,667 74,734 73,948 218 — 1,244 2 Shareholders' Equity: Preferred stock10 682 682 741 349 349 — — 333 95 Common stock 296 296 297 303 313 — — (17) (5) Capital surplus 3,664 3,653 3,759 3,974 4,288 11 — (624) (15) Retained earnings 5,207 5,383 5,205 5,030 4,848 (176) (3) 360 7 Accumulated other comprehensive loss, net (1,019) (846) (832) (809) (849) (173) (20) (170) (20) Combined shareholders' equity 8,830 9,168 9,170 8,847 8,949 (338) (4) (118) (1) Noncontrolling interest 295 295 295 295 295 — — — — Total shareholders' equity 9,125 9,464 9,465 9,142 9,244 (338) (4) (119) (1) Total liabilities and shareholders' equity $ 84,318 $ 84,437 $ 84,132 $ 83,876 $ 83,192 $ (120) — % $ 1,125 1 % Memo: Total deposits $ 67,701 $ 68,073 $ 66,482 $ 67,477 $ 65,525 $ (372) (1) % $ 2,176 3 % Loans to mortgage companies $ 3,869 $ 4,759 $ 4,641 $ 4,703 $ 3,926 $ (891) (19) % $ (58) (1) % Unfunded Loan Commitments: Commercial $ 20,677 $ 20,164 $ 18,980 $ 18,644 $ 18,485 $ 513 3 % $ 2,192 12 % Consumer $ 4,052 $ 4,016 $ 4,022 $ 4,002 $ 4,036 $ 36 1 % $ 16 — % Numbers may not total due to rounding. See footnote disclosures on page 18 and glossary of terms on page 24. 9
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CONSOLIDATED AVERAGE BALANCE SHEET Quarterly, Unaudited 3Q26 Change vs. (In millions) 3Q26 2Q26 1Q26 4Q25 3Q25 2Q26 3Q25 Assets: $ % $ % Loans and leases: Commercial, financial, and industrial (C&I) $ 36,530 $ 36,745 $ 35,208 $ 35,005 $ 34,011 $ (215) (1) % $ 2,519 7 % Commercial real estate 13,655 13,510 13,417 13,587 13,772 145 1 (117) (1) Total Commercial 50,185 50,256 48,625 48,591 47,784 (71) — 2,401 5 Consumer real estate 13,725 13,873 13,998 14,255 14,409 (148) (1) (684) (5) Credit card and other5 579 566 569 586 594 13 2 (15) (3) Total Consumer 14,304 14,439 14,567 14,841 15,004 (136) (1) (700) (5) Loans and leases, net of unearned income 64,489 64,695 63,192 63,432 62,787 (206) — 1,701 3 Loans held-for-sale 459 532 479 515 454 (73) (14) 5 1 Investment securities 8,915 9,218 9,454 9,321 9,321 (304) (3) (406) (4) Trading securities 1,663 1,677 1,796 1,798 1,625 (15) (1) 38 2 Interest-bearing deposits with banks 1,982 1,168 1,233 1,218 1,272 814 70 710 56 Federal funds sold and securities purchased under agreements to resell 949 669 756 743 573 279 42 375 65 Total interest earning assets 78,456 77,960 76,910 77,027 76,032 496 1 2,424 3 Cash and due from banks 912 923 936 900 860 (11) (1) 52 6 Goodwill and other intangible assets, net 1,595 1,603 1,611 1,619 1,628 (8) (1) (34) (2) Premises and equipment, net 554 544 543 548 556 10 2 (2) — Allowance for loan and lease losses (698) (732) (750) (774) (809) 33 5 111 14 Other assets 3,852 3,799 3,795 3,760 3,781 53 1 71 2 Total assets $ 84,671 $ 84,097 $ 83,045 $ 83,081 $ 82,049 $ 574 1 % $ 2,622 3 % Liabilities and shareholders' equity: Deposits: Savings $ 26,046 $ 25,618 $ 26,148 $ 26,693 $ 26,326 $ 428 2 % $ (279) (1) % Time deposits 9,395 8,501 6,755 6,205 6,871 895 11 2,524 37 Other interest-bearing deposits 17,196 16,914 17,679 17,573 16,866 282 2 330 2 Total interest-bearing deposits 52,638 51,033 50,582 50,470 50,063 1,604 3 2,575 5 Trading liabilities 678 645 729 722 549 32 5 129 24 Federal funds purchased and securities sold under agreements to repurchase 1,799 2,518 2,649 2,807 2,631 (719) (29) (833) (32) Short-term borrowings 660 1,400 894 470 387 (740) (53) 273 71 Term borrowings 1,321 1,319 1,319 1,323 1,335 2 — (15) (1) Total interest-bearing liabilities 57,095 56,916 56,173 55,792 54,965 179 — 2,130 4 Noninterest-bearing deposits 15,915 15,749 15,628 16,072 15,862 166 1 54 — Other liabilities 2,103 1,988 1,999 2,082 1,999 115 6 104 5 Total liabilities 75,112 74,652 73,800 73,946 72,825 460 1 2,287 3 Shareholders' Equity: Preferred stock10 682 682 436 349 350 — — 332 95 Common stock 296 297 300 307 316 (1) — (19) (6) Capital surplus 3,657 3,703 3,866 4,095 4,379 (45) (1) (722) (16) Retained earnings 5,513 5,310 5,129 4,910 4,798 203 4 715 15 Accumulated other comprehensive loss, net (885) (842) (781) (821) (913) (43) (5) 29 3 Combined shareholders' equity 9,263 9,149 8,950 8,840 8,928 114 1 335 4 Noncontrolling interest 295 295 295 295 295 — — — — Total shareholders' equity 9,558 9,444 9,245 9,135 9,224 114 1 335 4 Total liabilities and shareholders' equity $ 84,671 $ 84,097 $ 83,045 $ 83,081 $ 82,049 $ 574 1 % $ 2,622 3 % Memo: Total deposits $ 68,553 $ 66,782 $ 66,210 $ 66,542 $ 65,924 $ 1,771 3 % $ 2,629 4 % Loans to mortgage companies $ 4,092 $ 4,284 $ 3,884 $ 4,160 $ 3,628 $ (192) (4) % $ 463 13 % Numbers may not total due to rounding. See footnote disclosures on page 18 and glossary of terms on page 24. 10
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CONSOLIDATED NET INTEREST INCOME AND AVERAGE BALANCE SHEET: YIELDS AND RATES Quarterly, Unaudited 3Q26 Change vs. 3Q26 2Q26 1Q26 4Q25 3Q25 2Q26 3Q25 (In millions, except rates) Income/ Expense Rate Income/ Expense Rate Income/ Expense Rate Income/ Expense Rate Income/ Expense Rate Income/Expense Income/Expense $/bp % $/bp % Interest earning assets/Interest income: Loans and leases, net of unearned income: Commercial $ 751 5.94 % $ 735 5.87 % $ 707 5.89 % $ 743 6.07 % $ 767 6.37 % $ 16 2 % $ (16) (2) % Consumer 180 5.00 180 4.97 181 4.99 187 5.02 191 5.07 — — (11) (6) Loans and leases, net of unearned income 931 5.73 915 5.67 887 5.68 930 5.83 957 6.06 16 2 (27) (3) Loans held-for-sale 7 6.22 8 6.18 7 6.26 8 6.45 8 6.86 (1) (13) (1) (8) Investment securities 69 3.10 70 3.05 71 3.02 71 3.06 72 3.09 (1) (2) (3) (4) Trading securities 23 5.48 23 5.55 24 5.25 25 5.57 24 5.81 (1) (2) (1) (4) Interest-bearing deposits with banks 19 3.75 11 3.69 11 3.69 12 3.97 14 4.41 8 74 5 32 Federal funds sold and securities purchased under agreements 9 3.58 6 3.56 7 3.55 7 3.86 6 4.20 3 44 2 41 Interest income $ 1,057 5.35 % $ 1,033 5.31 % $ 1,008 5.29 % $ 1,054 5.44 % $ 1,081 5.65 % $ 24 2 % $ (24) (2) % Interest-bearing liabilities/Interest expense: Interest-bearing deposits: Savings $ 151 2.29 % $ 138 2.17 % $ 138 2.14 % $ 169 2.51 % $ 184 2.78 % $ 12 9 % $ (34) (18) % Time deposits 85 3.58 74 3.48 56 3.39 55 3.49 64 3.71 11 15 21 32 Other interest-bearing deposits 90 2.07 84 1.99 89 2.04 98 2.22 102 2.41 6 7 (13) (12) Total interest-bearing deposits 325 2.45 296 2.33 284 2.28 322 2.53 351 2.78 29 10 (26) (7) Trading liabilities 7 4.32 6 4.00 7 3.81 7 3.76 5 3.93 1 15 2 36 Federal funds purchased and securities sold under agreements to repurchase 13 2.92 19 3.09 20 2.98 23 3.21 23 3.52 (6) (32) (10) (43) Short-term borrowings 6 3.86 13 3.83 8 3.78 5 4.08 4 4.39 (7) (52) 2 50 Term borrowings 19 5.67 19 5.65 19 5.65 19 5.76 19 5.82 — — (1) (4) Interest expense 371 2.58 354 2.49 337 2.43 375 2.67 403 2.91 17 5 (33) (8) Net interest income - tax equivalent basis 686 2.77 679 2.82 670 2.86 679 2.77 678 2.74 7 1 8 1 Fully taxable equivalent adjustment (3) 0.71 (3) 0.67 (3) 0.66 (3) 0.74 (3) 0.81 — — — 10 Net interest income $ 683 3.48 % $ 676 3.49 % $ 667 3.52 % $ 676 3.51 % $ 674 3.55 % $ 7 1 % $ 9 1 % Memo: Total loan yield 5.73 % 5.67 % 5.68 % 5.83 % 6.06 % 6 bp (33) bp Total deposit cost 1.88 % 1.78 % 1.74 % 1.92 % 2.11 % 10 bp (23) bp Total funding cost 2.01 % 1.95 % 1.90 % 2.07 % 2.26 % 6 bp (25) bp Average loans and leases, net of unearned income $ 64,489 $ 64,695 $ 63,192 $ 63,432 $ 62,787 $ (206) — % $ 1,701 3 % Average deposits 68,553 66,782 66,210 66,542 65,924 1,771 3 % 2,629 4 % Average funded liabilities 73,010 72,664 71,801 71,864 70,827 $ 345 — % $ 2,183 3 % Net interest income and yields are adjusted to a fully taxable equivalent (“FTE”) basis assuming a statutory federal income tax of 21 percent and, where applicable, state income taxes. Earning assets yields are expressed net of unearned income. Loan yields include loan fees, cash basis interest income, and loans on nonaccrual status. Numbers may not total due to rounding. See footnote disclosures on page 18 and glossary of terms on page 24. 11
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CONSOLIDATED NONPERFORMING LOANS AND LEASES ("NPL") Quarterly, Unaudited As of 3Q26 change vs. (In millions, except ratio data) 3Q26 2Q26 1Q26 4Q25 3Q25 2Q26 3Q25 $ % $ % Nonperforming loans and leases Commercial, financial, and industrial (C&I) $ 194 $ 205 $ 219 $ 224 $ 211 $ (11) (6) % $ (17) (8) % Commercial real estate 145 184 243 239 254 (40) (22) (110) (43) Consumer real estate 142 141 144 140 139 1 1 3 2 Credit card and other5 1 1 1 1 1 — 65 — (14) Total nonperforming loans and leases $ 482 $ 531 $ 606 $ 604 $ 605 $ (49) (9) % $ (124) (20) % Asset Quality Ratio Nonperforming loans and leases to loans and leases Commercial, financial, and industrial (C&I) 0.53 % 0.55 % 0.60 % 0.62 % 0.61 % Commercial real estate 1.06 1.36 1.81 1.76 1.86 Consumer real estate 1.53 1.02 1.03 0.99 0.96 Credit card and other5 0.22 0.13 0.19 0.16 0.25 Total nonperforming loans and leases to loans and leases 0.81 % 0.81 % 0.94 % 0.94 % 0.96 % Numbers may not total due to rounding. See footnote disclosures on page 18 and glossary of terms on page 24. CONSOLIDATED LOANS AND LEASES 90 DAYS OR MORE PAST DUE AND ACCRUING Quarterly, Unaudited As of 3Q26 change vs. (In millions) 3Q26 2Q26 1Q26 4Q25 3Q25 2Q26 3Q25 $ % $ % Loans and leases 90 days or more past due and accruing Commercial, financial, and industrial (C&I) $ 1 $ 1 $ 1 $ 1 $ 1 $ — (31) % $ — (8) % Commercial real estate — — — — — — NM — NM Consumer real estate 7 — 2 6 6 6 NM 1 15 Credit card and other5 1 1 1 1 2 1 68 — (20) Total loans and leases 90 days or more past due and accruing $ 9 $ 2 $ 3 $ 8 $ 9 $ 7 NM $ — 3 % Numbers may not total due to rounding. See footnote disclosures on page 18 and glossary of terms on page 24. 12
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CONSOLIDATED NET CHARGE-OFFS (RECOVERIES) Quarterly, Unaudited As of 3Q26 change vs. (In millions, except ratio data) 3Q26 2Q26 1Q26 4Q25 3Q25 2Q26 3Q25 Charge-offs, Recoveries and Related Ratios $ % $ % Gross Charge-offs Commercial, financial, and industrial (C&I) $ 36 $ 32 $ 36 $ 39 $ 25 $ 4 12 % $ 11 45 % Commercial real estate 3 3 4 2 3 — (9) (1) (20) Consumer real estate 2 1 1 1 1 1 NM 1 NM Credit card and other5 4 5 4 4 6 — (11) (2) (39) Total gross charge-offs $ 45 $ 41 $ 45 $ 47 $ 36 $ 4 10 % $ 9 25 % Gross Recoveries Commercial, financial, and industrial (C&I) $ (6) $ (5) $ (14) $ (13) $ (6) $ (1) (28) % $ — 4 % Commercial real estate — — — — — — 90 — 94 Consumer real estate (2) (2) (2) (2) (1) (1) (40) (1) (46) Credit card and other5 (1) (1) (1) (1) (1) — 37 — 24 Total gross recoveries $ (9) $ (8) $ (17) $ (16) $ (9) $ (1) (18) % $ — — % Net Charge-offs (Recoveries) Commercial, financial, and industrial (C&I) $ 30 $ 27 $ 23 $ 26 $ 19 $ 3 10 % $ 11 62 % Commercial real estate 3 3 3 2 3 — (5) (1) (16) Consumer real estate — (1) — (1) (1) — 53 — 54 Credit card and other5 3 4 3 3 5 — — (2) (42) Total net charge-offs $ 36 $ 33 $ 29 $ 30 $ 26 $ 3 9 % $ 9 34 % Annualized Net Charge-off (Recovery) Rates Commercial, financial, and industrial (C&I) 0.33 % 0.30 % 0.26 % 0.30 % 0.22 % Commercial real estate 0.08 0.08 0.10 0.04 0.09 Consumer real estate (0.01) (0.02) (0.01) (0.02) (0.02) Credit card and other5 2.11 2.17 2.10 2.31 3.54 Total loans and leases 0.22 % 0.20 % 0.18 % 0.19 % 0.17 % Numbers may not total due to rounding. See footnote disclosures on page 18 and glossary of terms on page 24. 13
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CONSOLIDATED ALLOWANCE FOR LOAN AND LEASE LOSSES AND RESERVE FOR UNFUNDED COMMITMENTS Quarterly, Unaudited As of 3Q26 Change vs. (In millions) 3Q26 2Q26 1Q26 4Q25 3Q25 2Q26 3Q25 Summary of Changes in the Components of the Allowance For Credit Losses $ % $ % Allowance for loan and lease losses - beginning $ 709 $ 730 $ 738 $ 777 $ 814 $ (21) (3) % $ (105) (13) % Charge-offs: Commercial, financial, and industrial (C&I) (36) (32) (36) (39) (25) (4) (12) (11) (45) Commercial real estate (3) (3) (4) (2) (3) — 9 1 20 Consumer real estate (2) (1) (1) (1) (1) (1) NM (1) NM Credit card and other5 (4) (5) (4) (4) (6) — 11 2 39 Total charge-offs (45) (41) (45) (47) (36) (4) (10) (9) (25) Recoveries: Commercial, financial, and industrial (C&I) 6 5 14 13 6 1 28 — (4) Commercial real estate — — — — — — (90) — (94) Consumer real estate 2 2 2 2 1 1 40 1 46 Credit card and other5 1 1 1 1 1 — (37) — (24) Total Recoveries 9 8 17 16 9 1 18 — — Provision for loan and lease losses: Commercial, financial, and industrial (C&I) 20 24 41 28 5 (4) (16) 15 NM Commercial real estate 6 (3) (17) (26) (5) 9 NM 11 NM Consumer real estate * (57) (12) (6) (13) (15) (46) NM (42) NM Credit card and other5 2 3 3 3 4 (1) (23) (2) (45) Total provision for loan and lease losses: (29) 12 20 (8) (11) (41) NM (18) NM Allowance for loan and lease losses - ending $ 644 $ 709 $ 730 $ 738 $ 777 $ (65) (9) % $ (132) (17) % Reserve for unfunded commitments - beginning $ 99 $ 96 $ 101 $ 93 $ 87 $ 3 3 % $ 12 14 % Provision for unfunded commitments 4 3 (5) 8 6 1 33 (2) (33) Reserve for unfunded commitments - ending $ 103 $ 99 $ 96 $ 101 $ 93 $ 4 4 % $ 10 11 % Total allowance for credit losses - ending $ 747 $ 808 $ 826 $ 839 $ 870 $ (61) (7) % $ (122) (14) % Numbers may not total due to rounding. See footnote disclosures on page 18 and glossary of terms on page 24. *3Q26 includes a $45 million provision reversal related to the classification change of targeted mortgage loans to held for sale as a part of the expected portfolio sale. 14
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CONSOLIDATED ASSET QUALITY RATIOS - ALLOWANCE FOR LOAN AND LEASE LOSSES Quarterly, Unaudited As of 3Q26 2Q26 1Q26 4Q25 3Q25 Allowance for loan and lease losses to loans and leases Commercial, financial, and industrial (C&I) 0.94 % 0.94 % 0.97 % 0.93 % 0.97 % Commercial real estate 1.11 % 1.10 % 1.16 % 1.30 % 1.49 % Consumer real estate 1.44 % 1.37 % 1.44 % 1.46 % 1.52 % Credit card and other5 3.29 % 3.42 % 3.49 % 3.40 % 3.42 % Total allowance for loan and lease losses to loans and leases 1.08 % 1.09 % 1.13 % 1.15 % 1.23 % Allowance for loan and lease losses to nonperforming loans and leases Commercial, financial, and industrial (C&I) 175 % 171 % 162 % 150 % 158 % Commercial real estate 105 % 81 % 64 % 74 % 80 % Consumer real estate 94 % 135 % 140 % 147 % 158 % Credit card and other5 1,524 % 2,617 % 1,842 % 2,096 % 1,380 % Total allowance for loan and lease losses to nonperforming loans and leases 134 % 133 % 120 % 122 % 128 % Allowance for credit losses ratios Total allowance for credit losses to loans and leases4 1.25 % 1.24 % 1.28 % 1.31 % 1.38 % Total allowance for credit losses to nonperforming loans and leases4 155 % 152 % 136 % 139 % 144 % See footnote disclosures on page 18 and glossary of terms on page 24. 15
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COMMERCIAL, CONSUMER, AND WEALTH Quarterly, Unaudited 3Q26 Change vs. 3Q26 2Q26 1Q26 4Q25 3Q25 2Q26 3Q25 $/bp % $/bp % Income Statement (millions) Net interest income $ 667 $ 654 $ 649 $ 662 $ 671 $ 13 2 % $ (4) (1) % Noninterest income 125 123 119 124 117 2 2 9 8 Total revenue 792 777 768 786 787 15 2 5 1 Noninterest expense 382 376 368 380 366 6 2 16 4 Pre-provision net revenue3 410 401 400 407 421 9 2 (11) (3) Provision for credit losses 15 1 8 (2) 2 14 NM 13 NM Income before income tax expense 395 400 393 409 420 (5) (1) (24) (6) Income tax expense 95 96 94 98 100 (1) (1) (5) (5) Net income $ 300 $ 304 $ 299 $ 311 $ 319 $ (4) (1) % $ (19) (6) % Average Balances (billions) Total loans and leases11 $ 57.5 $ 57.5 $ 56.5 $ 56.5 $ 56.4 $ — — % $ 1.1 2 % Interest-earning assets 57.5 57.5 56.5 56.5 56.4 — — 1.1 2 Total assets 60.1 60.0 59.0 59.0 58.8 0.1 — 1.3 2 Total deposits 59.3 58.1 58.7 59.4 59.1 1.2 2 0.2 — Key Metrics Net interest margin6 4.62 % 4.58 % 4.68 % 4.67 % 4.74 % 4 bp (12) bp Efficiency ratio 48.25 % 48.40 % 47.86 % 48.31 % 46.50 % (15) bp 175 bp Loans-to-deposits ratio (period-end balances) 88.79 % 98.64 % 95.94 % 94.83 % 94.56 % (985) bp (577) bp Loans-to-deposits ratio (average balances) 96.93 % 98.90 % 96.19 % 95.09 % 95.30 % (197) bp 163 bp Return on average assets (annualized) 1.98 % 2.03 % 2.05 % 2.09 % 2.15 % (5) bp (17) bp Return on allocated equity7 20.31 % 20.80 % 20.57 % 20.34 % 20.37 % (49) bp (6) bp Financial center locations 408 407 410 412 413 1 (5) Numbers may not total due to rounding. Certain previously reported amounts have been reclassified to agree with current presentation. See footnote disclosures on page 18 and glossary of terms on page 24. Commercial, Consumer, and Wealth segment: Offers financial products and services, including traditional lending and deposit taking, to commercial and consumer clients primarily in the southern U.S. and other selected markets. Commercial, Consumer & Wealth also consists of lines of business that deliver product offerings and services with niche industry knowledge including corporate & specialty finance, commercial real estate, equipment finance/leasing, energy, international banking, healthcare, and transportation and logistics. Additionally, Commercial, Consumer & Wealth provides investment, wealth management, financial planning, trust and asset management services for consumer clients as well as delivering treasury management solutions, loan syndications, and corporate banking services. 16
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WHOLESALE Quarterly, Unaudited 3Q26 Change vs. 3Q26 2Q26 1Q26 4Q25 3Q25 2Q26 3Q25 $/bp % $/bp % Income Statement (millions) Net interest income $ 67 $ 67 $ 62 $ 66 $ 60 $ — — % $ 7 12 % Noninterest income 59 58 64 69 74 2 3 (15) (20) Total revenue 127 125 126 135 134 2 2 (7) (6) Noninterest expense 78 79 83 85 83 — — (4) (5) Pre-provision net revenue3 48 46 43 50 52 2 5 (3) (6) Provision for credit losses 8 23 9 3 (1) (15) (67) 8 NM Income before income tax expense 41 23 34 47 52 17 75 (11) (22) Income tax expense 10 6 8 11 13 4 78 (3) (22) Net income $ 31 $ 18 $ 26 $ 36 $ 40 $ 13 74 % $ (9) (22) % Average Balances (billions) Total loans and leases $ 6.8 $ 7.0 $ 6.3 $ 6.5 $ 6.0 $ (0.2) (3) % $ 0.8 14 % Interest-earning assets 9.7 9.9 9.4 9.6 8.7 (0.2) (2) 1.0 12 Total assets 10.3 10.5 10.1 10.3 9.4 (0.2) (2) 1.0 10 Total deposits 2.0 2.0 2.3 2.3 2.2 — 1 (0.2) (8) Key Metrics Fixed income product average daily revenue (thousands) $ 629 $ 594 $ 742 $ 765 $ 771 $ 35 6 % $ (142) (18) % Net interest margin6 2.78 % 2.73 % 2.68 % 2.72 % 2.77 % 5 bp 1 bp Efficiency ratio 61.84 % 63.00 % 66.01 % 62.77 % 61.54 % (116) bp 30 bp Loans-to-deposits ratio (period-end balances) 326 % 419 % 354 % 343 % 319 % (9,301) bp 720 bp Loans-to-deposits ratio (average balances) 341 % 353 % 280 % 288 % 276 % (1,130) bp 6,560 bp Return on average assets (annualized) 1.19 % 0.68 % 1.03 % 1.38 % 1.68 % 51 bp (49) bp Return on allocated equity7 19.89 % 11.50 % 17.55 % 24.11 % 26.29 % 838 bp (641) bp Numbers may not total due to rounding. Certain previously reported amounts have been reclassified to agree with current presentation. See footnote disclosures on page 18 and glossary of terms on page 24. Wholesale segment: Consists of lines of business that deliver product offerings and services with differentiated industry knowledge. Wholesale’s lines of business include mortgage warehouse lending, franchise finance, correspondent banking, and mortgage. Additionally, Wholesale has a line of business focused on fixed income securities sales, trading, underwriting, and strategies for institutional clients in the U.S. and abroad, as well as loan sales, portfolio advisory services, and derivative sales. 17
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CORPORATE Quarterly, Unaudited 3Q26 Change vs. 3Q26 2Q26 1Q26 4Q25 3Q25 2Q26 3Q25 $ % $ % Income Statement (millions) Net interest income/(expense) $ (51) $ (45) $ (44) $ (51) $ (56) $ (6) (13) % $ 5 9 % Noninterest income11 (461) 30 12 18 25 (490) NM (485) NM Total revenues (512) (15) (32) (33) (32) (496) NM (480) NM Noninterest expense 68 76 54 80 102 (8) (10) (34) (33) Pre-provision net revenue3 (580) (91) (86) (113) (134) (489) NM (446) NM Provision for credit losses (47) (9) (2) (1) (6) (39) NM (41) NM Income before income tax expense (533) (83) (84) (112) (128) (450) NM (405) NM Income tax expense (benefit) (123) (35) (26) (31) (35) (87) NM (88) NM Net income/(loss) $ (410) $ (47) $ (58) $ (81) $ (93) $ (363) NM $ (317) NM Average Balance Sheet (billions) Interest bearing assets $ 11.3 $ 10.6 $ 11.1 $ 11.0 $ 11.0 $ 0.7 7 % $ 0.3 3 % Total assets 14.3 13.6 14.0 13.8 13.9 0.7 5 0.4 3 Numbers may not total due to rounding. Certain previously reported amounts have been reclassified to agree with current presentation. Corporate segment: Consists primarily of corporate support functions including risk management, audit, accounting, finance, executive office, and corporate communications. Shared support services such as human resources, marketing, properties, technology, credit risk and bank operations are allocated to the activities of Commercial, Consumer & Wealth, Wholesale and Corporate. Additionally, the Corporate segment includes centralized management of capital and funding to support the business activities of the company including management of balance sheet funding, liquidity, and capital management and allocation. The Corporate segment also includes the revenue and expense associated with run-off businesses such as pre-2009 mortgage banking elements, run-off consumer and trust preferred loan portfolios, and other exited businesses. FOOTNOTES 1 Taxable equivalent interest income and interest expense are non-GAAP measures and are reconciled to net interest income (GAAP) in the table. 2 Occupancy and Equipment expense includes Computer Software Expense. 3 Pre-provision net revenue is a non-GAAP measure and is reconciled to income before income taxes (GAAP) in the table. 4 Represents a non-GAAP measure and is reconciled to the nearest GAAP measure in the non-GAAP to GAAP reconciliations beginning on page 19. 5 Credit card and other includes $146 million of commercial credit card balances at September 30, 2026. 6 Net interest margin is computed using total NII adjusted for FTE assuming a statutory federal income tax rate of 21 percent and, where applicable, state taxes. 7 Segment equity is allocated based on an internal allocation methodology. 8 Share count for all periods shown was impacted by share repurchases. In 3Q26, all potential common shares were antidilutive due to the net loss attributable to common shareholders for that period. 3Q26 adjusted results include a dilutive impact on shares. 9 Balance fluctuates based on market conditions. 1Q26 decrease was driven by equity market valuations. 10 Preferred Stock balance was impacted by the issuance of Series H Preferred Stock in 1Q26. 11 In 3Q26, FHN initiated preparations to sell approximately $4.5 billion of consumer mortgages. These mortgage loans were previously included in the Commercial, Consumer, and Wealth segment and were reclassified to loans HFS. The transaction resulted in a pre-tax loss of $473 million to noninterest income related to recognition of the pending mortgage portfolio sale impacts in 3Q26 including valuation adjustments and transaction costs and closed early in 4Q26. 18
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CONSOLIDATED NON-GAAP TO GAAP RECONCILIATION Quarterly, Unaudited ($ in millions, except per share data) 3Q26 2Q26 1Q26 4Q25 3Q25 Tangible Common Equity (Non-GAAP) (A) Total equity (GAAP) $ 9,125 $ 9,464 $ 9,465 $ 9,142 $ 9,244 Less: Noncontrolling interest (a) 295 295 295 295 295 Less: Preferred stock (a) 682 682 741 349 349 (B) Total common equity $ 8,149 $ 8,487 $ 8,429 $ 8,498 $ 8,600 Less: Intangible assets (GAAP) (b) 1,591 1,599 1,607 1,615 1,624 (C) Tangible common equity (Non-GAAP) $ 6,558 $ 6,888 $ 6,822 $ 6,882 $ 6,976 Tangible Assets (Non-GAAP) (D) Total assets (GAAP) $ 84,318 $ 84,437 $ 84,132 $ 83,876 $ 83,192 Less: Intangible assets (GAAP) (b) 1,591 1,599 1,607 1,615 1,624 (E) Tangible assets (Non-GAAP) $ 82,727 $ 82,839 $ 82,525 $ 82,261 $ 81,568 Period-end Shares Outstanding (F) Period-end shares outstanding 474 474 476 485 500 Ratios (A)/(D) Total equity to total assets (GAAP) 10.82 % 11.21 % 11.25 % 10.90 % 11.11 % (C)/(E) Tangible common equity to tangible assets (“TCE/TA”) (Non-GAAP) 7.93 % 8.31 % 8.27 % 8.37 % 8.55 % (B)/(F) Book value per common share (GAAP) $ 17.20 $ 17.91 $ 17.72 $ 17.53 $ 17.19 (C)/(F) Tangible book value per common share (Non-GAAP) $ 13.84 $ 14.53 $ 14.34 $ 14.20 $ 13.94 (a) Included in Total equity on the Consolidated Balance Sheet. (b) Includes goodwill and other intangible assets, net of amortization. Numbers may not total due to rounding. 19
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CONSOLIDATED NON-GAAP TO GAAP RECONCILIATION Quarterly, Unaudited ($ in millions, except per share data) 3Q26 2Q26 1Q26 4Q25 3Q25 Adjusted Diluted EPS Net income available to common shareholders ("NIAC") (GAAP) a $ (94) $ 260 $ 257 $ 257 $ 254 Plus Total notable items (after-tax) (Non-GAAP) (a) $ 347 $ 1 $ — $ 2 $ 9 Adjusted net income available to common shareholders (Non-GAAP) b $ 253 $ 262 $ 257 $ 259 $ 263 Diluted Shares (GAAP)8 c 474 480 487 496 510 Adjusted Diluted Shares8 d 479 480 487 496 510 Diluted EPS (GAAP) a/c $ (0.20) $ 0.54 $ 0.53 $ 0.52 $ 0.50 Adjusted diluted EPS (Non-GAAP) b/d $ 0.53 $ 0.54 $ 0.53 $ 0.52 $ 0.51 Adjusted Net Income ("NI") and Adjusted Return on Assets ("ROA") Net Income ("NI") (GAAP) $ (79) $ 274 $ 266 $ 266 $ 266 Plus Relevant notable items (after-tax) (Non-GAAP) (a) $ 347 $ 4 $ — $ 2 $ 6 Adjusted NI (Non-GAAP) $ 268 $ 278 $ 266 $ 268 $ 272 NI (annualized) (GAAP) e $ (314) $ 1,101 $ 1,079 $ 1,054 $ 1,055 Adjusted NI (annualized) (Non-GAAP) f $ 1,062 $ 1,116 $ 1,079 $ 1,064 $ 1,079 Average assets (GAAP) g $ 84,671 $ 84,097 $ 83,045 $ 83,081 $ 82,049 ROA (GAAP) e/g (0.37) % 1.31 % 1.30 % 1.27 % 1.29 % Adjusted ROA (Non-GAAP) f/g 1.25 % 1.33 % 1.30 % 1.28 % 1.32 % Return on Average Common Equity ("ROCE")/ Return on Average Tangible Common Equity ("ROTCE")/ Adjusted ROTCE Net income available to common shareholders ("NIAC") (annualized) (GAAP) h $ (372) $ 1,044 $ 1,044 $ 1,018 $ 1,007 Adjusted Net income available to common shareholders (annualized) (Non-GAAP) i $ 1,004 $ 1,049 $ 1,044 $ 1,028 $ 1,042 Average Common Equity (GAAP) j $ 8,581 $ 8,468 $ 8,514 $ 8,491 $ 8,579 Intangible Assets (GAAP) (b) 1,595 1,603 1,611 1,619 1,628 Average Tangible Common Equity (Non-GAAP) k $ 6,987 $ 6,865 $ 6,903 $ 6,872 $ 6,950 Equity Adjustment (Non-GAAP) 4 — — — — Adjusted Average Tangible Common Equity (Non-GAAP) l $ 6,991 $ 6,865 $ 6,903 $ 6,872 $ 6,950 ROCE (GAAP) h/j (4.34) % 12.33 % 12.26 % 11.99 % 11.74 % ROTCE (Non-GAAP) h/l (5.33) % 15.21 % 15.12 % 14.82 % 14.49 % Adjusted ROTCE (Non-GAAP) i/l 14.36 % 15.29 % 15.12 % 14.96 % 15.00 % (a) Adjusted for those notable items relevant to the amount being adjusted, as detailed on page 7. (b) Includes goodwill and other intangible assets, net of amortization. Numbers may not total due to rounding. See footnote disclosures on page 18. 20
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CONSOLIDATED NON-GAAP TO GAAP RECONCILIATION Quarterly, Unaudited (In millions) 3Q26 2Q26 1Q26 4Q25 3Q25 Adjusted Noninterest Income as a % of Total Revenue Noninterest income (GAAP) m $ (276) $ 211 $ 195 $ 212 $ 215 Plus notable items (pretax) (GAAP) (a) 473 — — — — Adjusted noninterest income (Non-GAAP) n $ 197 $ 211 $ 195 $ 212 $ 215 Revenue (GAAP) o $ 407 $ 887 $ 862 $ 888 $ 889 Taxable-equivalent adjustment 3 3 3 3 3 Revenue- Taxable-equivalent (Non-GAAP) 410 890 865 892 893 Plus notable items (pretax) (GAAP) (a) 473 — — — — Adjusted revenue (Non-GAAP) p $ 883 $ 890 $ 865 $ 892 $ 893 Securities gains/(losses) (GAAP) q $ (1) $ — $ (1) $ — $ — Noninterest income as a % of total revenue (GAAP) (m-q)/ (o-q) (67.31) % 23.73 % 22.63 % 23.89 % 24.16 % Adjusted noninterest income as a % of total revenue (Non-GAAP) (n-q)/ (p-q) 22.38 % 23.65 % 22.55 % 23.80 % 24.07 % Adjusted Efficiency Ratio Noninterest expense (GAAP) r $ 529 $ 531 $ 505 $ 545 $ 551 Plus notable items (pretax) (GAAP) (a) (8) (5) — (3) (8) Adjusted noninterest expense (Non-GAAP) s $ 521 $ 526 $ 505 $ 541 $ 542 Revenue (GAAP) t $ 407 $ 887 $ 862 $ 888 $ 889 Taxable-equivalent adjustment 3 3 3 3 3 Revenue- Taxable-equivalent (Non-GAAP) 410 890 865 892 893 Plus notable items (pretax) (GAAP) (a) 473 — — — — Adjusted revenue (Non-GAAP) u $ 883 $ 890 $ 865 $ 892 $ 893 Securities gains/(losses) (GAAP) v $ (1) $ — $ (1) $ — $ — Efficiency ratio (GAAP) r/ (t-v) 129.56 % 59.88 % 58.54 % 61.33 % 61.92 % Adjusted efficiency ratio (Non-GAAP) s/ (u-v) 58.91 % 59.11 % 58.34 % 60.73 % 60.76 % (a) Adjusted for those notable items relevant to the amount being adjusted, as detailed on page 7. Numbers may not total due to rounding. 21
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CONSOLIDATED NON-GAAP TO GAAP RECONCILIATION Quarterly, Unaudited ($ in millions) Period-end Average 3Q26 2Q26 3Q26 vs. 2Q26 3Q26 2Q26 3Q26 vs. 2Q26 Loans excluding LMC Total Loans (GAAP) $ 59,808 $ 65,330 $ (5,522) (8) % $ 64,489 $ 64,695 $ (206) — % LMC (GAAP) 3,869 4,759 (891) (19) % 4,092 4,284 (192) (4) % Total Loans excl. LMC (Non-GAAP) 55,940 60,571 (4,631) (8) % 60,397 60,411 (14) — % Total Consumer (GAAP) 9,807 14,439 (4,632) (32) % 14,304 14,439 (136) (1) % Total Commercial excl. LMC (Non-GAAP) 46,132 46,131 1 — % 46,093 45,972 121 — % Total CRE (GAAP) 13,692 13,595 97 1 % 13,655 13,510 145 1 % Total C&I excl. LMC (Non-GAAP) $ 32,440 $ 32,536 $ (96) — % $ 32,438 $ 32,462 (23) — % Numbers may not total due to rounding. 3Q26 2Q26 1Q26 4Q25 3Q25 Allowance for credit losses to loans and leases and Allowance for credit losses to nonperforming loans and leases Allowance for loan and lease losses (GAAP) A $ 644 $ 709 $ 730 $ 738 $ 777 Reserve for unfunded commitments (GAAP) 103 99 96 101 93 Allowance for credit losses (Non-GAAP) B $ 747 $ 808 $ 826 $ 839 $ 870 Loans and leases (GAAP) C $ 59,808 $ 65,330 $ 64,377 $ 64,156 $ 63,058 Nonaccrual loans and leases (GAAP) D $ 482 $ 531 $ 606 $ 604 $ 605 Allowance for loan and lease losses to loans and leases (GAAP) A/C 1.08 % 1.09 % 1.13 % 1.15 % 1.23 % Allowance for credit losses to loans and leases (Non-GAAP) B/C 1.25 % 1.24 % 1.28 % 1.31 % 1.38 % Allowance for loan and lease losses to nonperforming loans and leases (GAAP) A/D 134 % 133 % 120 % 122 % 128 % Allowance for credit losses to nonperforming loans and leases (Non-GAAP) B/D 155 % 152 % 136 % 139 % 144 % Numbers may not total due to rounding. 22
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CONSOLIDATED NON-GAAP TO GAAP RECONCILIATION Quarterly, Unaudited ($ in millions) 3Q26 2Q26 1Q26 4Q25 3Q25 Adjusted Pre-provision Net Revenue (PPNR) Pre-tax income (GAAP) $ (97) $ 341 $ 342 $ 343 $ 344 Plus notable items (pretax) (GAAP) (a) 436 5 — 3 8 Adjusted Pre-tax income (non-GAAP) $ 339 $ 346 $ 342 $ 347 $ 352 Plus adjusted provision for credit losses expense (non-GAAP) 20 15 15 — (5) Adjusted Pre-provision net revenue (PPNR) (non-GAAP) $ 359 $ 361 $ 357 $ 347 $ 347 Taxable-equivalent adjustment 3 3 3 3 3 Adjusted Pre-provision net revenue-Taxable-equivalent (Non-GAAP) $ 362 $ 364 $ 360 $ 350 $ 351 3Q26 2Q26 1Q26 4Q25 3Q25 Adjusted Provision for Credit Losses Provision for credit losses (GAAP) $ (25) $ 15 $ 15 $ — $ (5) Plus notable items (pretax) (GAAP) (a) (45) — — — — Adjusted provision for credit loss expense (non-GAAP) $ 20 $ 15 $ 15 $ — $ (5) (a) Adjusted for those notable items relevant to the amount being adjusted, as detailed on page 7. Numbers may not total due to rounding. 23
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GLOSSARY OF TERMS Common Equity Tier 1 Ratio: Ratio consisting of common equity adjusted for certain unrealized gains/(losses) on available-for-sale securities, less disallowed portions of goodwill, other intangibles, and deferred tax assets as well as certain other regulatory deductions divided by risk-weighted assets. Fully Taxable Equivalent (“FTE”): Reflects the amount of tax-exempt income adjusted to a level that would yield the same after-tax income had that income been subject to taxation. Tier 1 Capital Ratio: Ratio consisting of shareholders’ equity adjusted for certain unrealized gains/(losses) on available-for-sale securities, plus qualifying portions of noncontrolling interests, less disallowed portions of goodwill, other intangible assets, and deferred tax assets as well as certain other regulatory deductions divided by risk-weighted assets. Key Ratios Return on Average Assets: Ratio is annualized net income to average total assets. Return on Average Common Equity: Ratio is annualized net income available to common shareholders to average common equity. Return on Average Tangible Common Equity: Ratio is annualized net income available to common shareholders to average tangible common equity. Noninterest Income as a Percentage of Total Revenue: Ratio is noninterest income excluding securities gains/(losses) to total revenue - taxable equivalent excluding securities gains/(losses). Efficiency Ratio: Ratio is noninterest expense to total revenue - taxable equivalent excluding securities gains/(losses). Leverage Ratio: Ratio is tier 1 capital to average assets for leverage. Asset Quality - Consolidated Key Ratios Nonperforming loans and leases ("NPL") %: Ratio is nonaccruing loans and leases in the loan portfolio to total period-end loans and leases. Net charge-offs %: Ratio is annualized net charge-offs to total average loans and leases. Allowance / loans and leases: Ratio is allowance for loan and lease losses to total period-end loans and leases. Allowance / Nonperforming loans and leases: Ratio is allowance for loan and lease losses to nonperforming loans and leases in the loan portfolio. Operating Segments Commercial, Consumer, and Wealth segment: Offers financial products and services, including traditional lending and deposit taking, to commercial and consumer clients primarily in the southern U.S. and other selected markets. Commercial, Consumer & Wealth also consists of lines of business that deliver product offerings and services with niche industry knowledge including corporate & specialty finance, commercial real estate, equipment finance/leasing, energy, international banking, healthcare, and transportation and logistics. Additionally, Commercial, Consumer & Wealth provides investment, wealth management, financial planning, trust and asset management services for consumer clients as well as delivering treasury management solutions, loan syndications, and corporate banking services. Wholesale segment: Consists of lines of business that deliver product offerings and services with differentiated industry knowledge. Wholesale’s lines of business include mortgage warehouse lending, franchise finance, correspondent banking, and mortgage. Additionally, Wholesale has a line of business focused on fixed income securities sales, trading, underwriting, and strategies for institutional clients in the U.S. and abroad, as well as loan sales, portfolio advisory services, and derivative sales. Corporate segment: Consists primarily of corporate support functions including risk management, audit, accounting, finance, executive office, and corporate communications. Shared support services such as human resources, marketing, properties, technology, credit risk and bank operations are allocated to the activities of Commercial, Consumer & Wealth, Wholesale and Corporate. Additionally, the Corporate segment includes centralized management of capital and funding to support the business activities of the company including management of balance sheet funding, liquidity, and capital management and allocation. The Corporate segment also includes the revenue and expense associated with run-off businesses such as pre-2009 mortgage banking elements, run-off consumer and trust preferred loan portfolios, and other exited businesses. 24