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Earnings Presentation Third Quarter 2026 October 20, 2026 F.N.B.Corporation
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This document contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are those that do not relate to historical facts and that are based on current assumptions, beliefs, estimates, expectations and projections, many of which, by their nature, are inherently uncertain and beyond our control. Forward-looking statements may relate to various matters, including our financial condition, results of operations, plans, objectives, future performance, business or industry, and usually can be identified by the use of forward-looking words, such as “anticipates,” “assumes,” “believes,” “can,” “continues,” “could,” “enables,” “estimates,” “expects,” “forecasts,” “goal,” “intends,” “likely,” “may,” “might,” “objective,” “plans,” “positioned,” “potential,” “projects,” “remains,” “should,” “target,” “trend,” “will,” “would,” or similar words or expressions or variations thereof, and the negative thereof, but these terms are not the exclusive means of identifying such statements. You should not place undue reliance on forward-looking statements, as they are subject to risks and uncertainties, including, but not limited to, those described below. When considering these forward-looking statements, you should keep in mind these risks and uncertainties, as well as any cautionary statements we may make. There are various important factors that could cause future results to differ materially from historical performance and any forward-looking statements. Factors that might cause such differences, include, but are not limited to: • the credit risk associated with the substantial amount of commercial loans and leases in our loan portfolio; • the volatility of the mortgage banking business and real estate values, which can be influenced by economic conditions or trends, interest rates, and local market trends; • changes in market interest rates, U.S. federal government shutdowns and the unpredictability of monetary, tax and other policies of government agencies, including tariffs or the imposition and enforceability of tariffs, trade wars, barriers or restrictions, threats of such actions or related uncertainties; • the impact of changes in interest rates on the value of our investment securities portfolios; • the impact that shifts in local and regional commercial real estate market conditions, interest rate fluctuations, geographic commercial office space availability and tenant demand and independent appraisal revisions and other factors beyond our control may have on our branch and headquarters properties and other real estate we own; • changes in our ability to obtain liquidity as and when needed to fund our obligations as they come due, including as a result of adverse changes to our credit ratings; • the risk associated with uninsured deposit account balances; • regulatory limits on our ability to receive dividends from our subsidiaries and pay dividends to our shareholders; • our ability to recruit and retain qualified banking professionals; • the financial soundness of other financial institutions and the impact of volatility in the banking sector on us; • changes and instability in economic conditions and financial markets, in the regions in which we operate or otherwise, including a contraction of economic activity, economic downturn or uncertainty and international conflict, including in the Middle East, disruption of supply chain and energy supply markets and capital markets, changes to inflation expectations and other related uncertainties; • our ability to continue to invest in technological improvements and artificial intelligence solutions as they become appropriate or necessary; • any interruption in or breach in security of our information systems, or other cybersecurity risks; • risks associated with reliance on third-party vendors and related to our use of artificial intelligence in connection with business and operations; • risks associated with the use of models, estimations and assumptions in our business; • the effects of adverse weather events and public health emergencies; • the risks associated with acquiring other banks and financial services businesses, including integration into our existing operations; • the extensive federal and state regulations, supervision and examination governing almost every aspect of our operations, and potential expenses associated with complying with such regulations; • our ability to comply with the consent orders entered into by First National Bank of Pennsylvania with the Department of Justice and the North Carolina State Department of Justice, and related costs and potential reputational harm; • changes in federal, state or local tax rules and regulations or interpretations, or accounting policies, standards and interpretations; • the effects of climate change and related legislative and regulatory initiatives; and • any reputation, credit, interest rate, market, operational, litigation, legal, liquidity, regulatory and compliance risk resulting from developments related to any of the risks discussed above. FNB cautions that the risks identified here are not exhaustive of the types of risks that may adversely impact FNB and actual results may differ materially from those expressed or implied as a result of these risks and uncertainties, including, but not limited to, the risk factors and other uncertainties described under Item 1A. Risk Factors and the Risk Management sections of our 2025 Annual Report on Form 10-K (including the MD&A section), our subsequent 2026 Quarterly Reports on Form 10-Q (including the risk factors and risk management discussions) and our other filings with the Securities and Exchange Commission (SEC), which are available on our corporate website at https://www.fnb-online.com/about-us/investor-information/reports-and-filings or the SEC’s website at www.sec.gov. We have included our web address as an inactive textual reference only. Information on our website is not part of our SEC filings. You should treat forward-looking statements as speaking only as of the date they are made and based only on information then actually known to FNB. FNB does not undertake, and specifically disclaims any obligation to update, or revise any forward-looking statements to reflect the occurrence of events or circumstances after the date of such statements except as required by law. Cautionary Statement Regarding Forward-Looking Information 2
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To supplement our Consolidated Financial Statements presented in accordance with GAAP , we use certain non-GAAP financial measures, such as operating net income available to common shareholders, operating earnings per diluted common share, return on average tangible common equity, return on average tangible assets, tangible book value per common share, the ratio of tangible common equity to tangible assets, pre-provision net revenue (reported), efficiency ratio, and net interest margin (FTE) to provide information useful to investors in understanding our operating performance and trends, and to facilitate comparisons with the performance of our peers. Management uses these measures internally to assess and better understand our underlying business performance and trends related to core business activities. The non-GAAP financial measures and key performance indicators we use may differ from the non-GAAP financial measures and key performance indicators other financial institutions use to assess their performance and trends. These non-GAAP financial measures should be viewed as supplemental in nature, and not as a substitute for, or superior to, our reported results prepared in accordance with GAAP . Reconciliations of non-GAAP financial measures to the most directly comparable GAAP financial measures are included later in this document under the heading “Non-GAAP to GAAP Reconciliation”. Management believes certain items (e.g., FDIC special assessment) are not organic to running our operations and facilities. These items are considered significant items impacting earnings as they are deemed to be outside of ordinary banking activities. These costs are specific to each individual transaction and may vary significantly based on the size and complexity of the transaction. To facilitate peer comparisons of net interest margin and efficiency ratio, we use net interest income on a taxable-equivalent basis in calculating net interest margin by increasing the interest income earned on tax-exempt assets (loans and investments) to make it fully equivalent to interest income earned on taxable investments (this adjustment is not permitted under GAAP).Taxable-equivalent amounts for 2026 and 2025 were calculated using a federal statutory income tax rate of 21%. Use of Non-GAAP Financial Measures and Key Performance Indicators 3
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Third Quarter 2026 Highlights ❖ Earnings per diluted common share increased 4.9% year-over-year to $0.43 with net income of $152.9 million. o Year-to-date earnings per diluted common share increased 12.8% to $1.23. ❖ Revenue growth of 5.5% annualized, linked-quarter, driven by record net interest income of $376.5 million. o Net interest margin (FTE)(1) increased 4 basis points to 3.29%, with stable interest-bearing deposit costs and higher yields on earning assets. ❖ Total loans and leases (period-end) increased $768.0 million, or 8.5% annualized, linked-quarter. o Consumer loans increased $435.3 million. o Commercial loans and leases increased $332.7 million. ❖ Total deposits (period-end) increased $870.6 million, or 8.9% annualized, linked-quarter. o The mix of non-interest-bearing demand deposits to total deposits was stable at 26% for the eighth consecutive quarter. ❖ Loan-to-deposit ratio was 92.4% at September 30, 2026, compared to 92.5% at June 30, 2026, and 90.9% at September 30, 2025. ❖ The provision for credit losses was $19.6 million, a decrease of $1.7 million from the prior quarter, with net charge-offs of 0.12% annualized of total average loans, compared to 0.19% annualized in the prior quarter. Overall, asset quality metrics remain at satisfactory levels. ❖ Record tangible book value(1) (TBV) of $12.28 per share with year-over-year growth of $0.80, or 7.0%. o When excluding the negative impact of elevated accumulated other comprehensive income/loss (AOCI) of $0.53 and $0.22 per share in 3Q26 and 3Q25, respectively, TBV per share (non-GAAP) increased $1.11, or 9.5%. ❖ CET1 ratio(2) equaled 11.3% and tangible common equity to tangible assets(1) (TCE/TA) equaled 8.7%. ❖ During the third quarter of 2026, the Company repurchased $51 million, or 2.7 million shares, of common stock at a weighted average share price of $18.69. o Year-to-date, the Company repurchased $133 million, or 7.4 million shares, of common stock at a weighted average share price of $17.90, representing 2.1% of shares outstanding at the beginning of the year. Financial Highlights 4 (1) A non-GAAP measure. (2) Estimated for 3Q26.
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Strong Financial Performance 5 14.1% ROATCE(1) 53.7% Efficiency Ratio(1)(2) 3.29% Net Interest Margin(1)(2) 1.27% ROATA(1) Solid Profitability Metrics Quarter Ended September 30, 2026 Significant Capital, Reserves & Liquidity as of September 30, 2026 Continued Balance Sheet Growth as of September 30, 2026 Total Loan Growth(3) 4.5% 2.9% Total Deposit Growth(3) 26% Non-Interest Bearing Deposits to Total Deposits Ratio 7.0% TBV Per Share Growth(1)(3) TCE/TA(1) 8.7% CET1(4) 11.3% 1.25% ACL Ratio 92.4% Loan-to-Deposit Ratio (1) A non-GAAP measure. (2) FTE basis. (3) Comparison to September 30, 2025. (4) Estimated for 3Q26.
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Since 2009(1), FNB’s leadership team has transformed the Company and developed a sustainable long- term business model leading to optimal capital deployment that benefits our shareholders. FNB’s Long-Term Transformation Increase Market Share and Geographic Diversity Drive Shareholder Value Enhance Performance with Investments in Revenue, Risk Management and Technology Returned $2.5 billion in capital to shareholders through dividends and repurchases since 2009(7). Over 50% of FNB’s total asset growth has been organic since 2009. Total revenue increased ~5x with peer-leading non-interest income growth. 2009 Branch Footprint 2026 Branch Footprint ✓ Expanded footprint across a combination of mature and high-growth markets across seven states. Internal Capital Generation (ICG) Total CAGR: 11.6% Organic CAGR (2) : 8.3% Total Assets Total Revenue 1 Year 3 Year 5 Year 12/31/2009 FNB 10.0% 75.5% 76.1% 396.6% KBW Index(6) 10.3% 52.8% 9.6% 195.8% 2009 3Q26 TCE/TA(3) 5.8% 8.7% Efficiency Ratio(3) 62.9% 53.7% ROATCE(3) 8.72% 14.15% ROATA(3) 0.57% 1.27% Dividend Payout Ratio 150% 30% ✓ Stable, granular deposit base with an organic CAGR of 8.6%. ✓ Top 5 deposit market share position in 50% of our MSAs(4). ✓ Enhanced capital management, providing strength and flexibility. ✓ Superior industry-leading total shareholder return(5). ✓ Differentiated strategy for driving long-term value: • Diversified fee-income platform • Robust risk management • 100+ workplace awards since 2011 • Innovative digital and data analytics: o Award-winning eStore® and Common Application o Artificial intelligence and data science o Omnichannel experience across mobile, online and in-branch. 6 (3) $8.7 B $22.7 B $18.8 B $8.7 B $50.2 B 2009 2025 2009 Assets Organic Growth Acquisitions $4.17 $11.87 $8.16 $4.17 $20.03CAGR 10.3% 2009 2025 TBV Cumulative Dividends $0.37 B $1.77 BCAGR 10.2% 2009 2025 Net Interest Income Non-interest Income (1) These results span the tenure of FNB’s executive team at the Bank and holding company, including successfully guiding FNB through the aftermath of the financial crisis, a global pandemic and a banking industry disruption. (2) Excludes the assets acquired through M&A. (3) A non-GAAP measure. (4) FDIC market data as of June 30, 2026. (5) As of September 30, 2026. (6) KBW Regional Banks Index. (7) Includes 3Q26 dividend and share repurchases.
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Third Quarter Financial Highlights 7 3Q26 2Q26 3Q25 Net income (millions) $152.9 $148.7 $149.5 Earnings per diluted common share $0.43 $0.42 $0.41 Book value per common share $19.42 $19.34 $18.52 Operating net income (millions)(1) $152.9 $148.7 $147.7 Operating earnings per diluted common share(1) $0.43 $0.42 $0.41 Total loan growth (ending balance)(2) 2.1% 1.9% 0.8% Total deposit growth (ending balance)(2) 2.3% (0.6%) 1.8% Efficiency ratio(1)(3) 53.7% 53.7% 52.4% Tangible common equity / tangible assets(1)(4) 8.7% 8.9% 8.7% Common equity tier 1 risk-based capital ratio(5) 11.3% 11.4% 11.1% Tangible book value per common share(1)(4) $12.28 $12.24 $11.48 Reported Results Key Operating Results Capital Measures (1) A non-GAAP measure. (2) On a linked-quarter non-annualized basis. (3) FTE basis. (4) Includes negative AOCI impact of $0.53, $0.29 and $0.22 in 3Q26, 2Q26 and 3Q25, respectively. (5) Estimated for 3Q26.
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NCO’s (Annualized) to Average Loans NPL’s and OREO to Loans and OREO Delinquency to Period-End Loans ACL to Total Loans and Leases Asset Quality Ratios 8 Reflects ACL/ Total loans and leases, including the remaining accretable discount on acquired loans (1) Asset quality metrics remain at solid levels and FNB will continue to manage risk proactively as part of our core credit philosophy. (1) A non-GAAP measure, refer to non-GAAP to GAAP Reconciliation for further information. 0.22% 0.19% 0.18% 0.19% 0.12% 3Q25 4Q25 1Q26 2Q26 3Q26 0.65% 0.71% 0.74% 0.71% 0.75% 3Q25 4Q25 1Q26 2Q26 3Q26 1.25% 1.26% 1.26% 1.25% 1.25% 1.32% 1.32% 1.32% 1.30% 1.29% 3Q25 4Q25 1Q26 2Q26 3Q26 0.37% 0.31% 0.34% 0.31% 0.33% 3Q25 4Q25 1Q26 2Q26 3Q26
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Asset Quality $ in millions, unless otherwise stated 3Q26 2Q26 3Q25 3Q26 Highlights Delinquency 0.75% 0.71% 0.65% NPLs+OREO/Total loans and leases + OREO 0.33% 0.31% 0.37% Provision for credit losses $19.6 $21.4 $24.0 Net charge-offs (NCOs) $11.0 $17.0 $19.7 NCOs (annualized)/Total average loans and leases 0.12% 0.19% 0.22% Allowance for credit losses/ Total loans and leases 1.25% 1.25% 1.25% Allowance for credit losses/ Total non-performing loans and leases 382.1% 404.3% 349.9% o Delinquency of 0.75% remains near historically low levels. o NPLs+OREO ended the quarter at 33 basis points, an increase of 2 basis points from the prior quarter. o Net charge-offs of $11.0 million, or 0.12% (annualized) of average loans and leases, a decrease from the prior quarter and the year-ago quarter. Year-to-date net charge- offs to total loans and leases are 0.17% (annualized). o Allowance for credit losses to loans and leases ratio remained stable from the prior quarter and year-ago quarter. 9
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Highly diversified loan portfolio with a focus on concentration management. Loan Portfolio Mix 10 Total Loan Portfolio as of September 30, 2026 41% Total Consumer Loans ❖ High-quality consumer loan portfolio concentrated in prime and super-prime borrowers with average origination FICO of 785 over the last 12 months. ❖ Residential mortgage portfolio growth reflects our business model of originating purchase mortgages that have limited interest-rate sensitivity and is not dependent on the refinance market. Total Commercial Loans & Leases59% ❖ Continued focus on core C&I lending activity with traditional middle market customers. ❖ Minimal NDFI balances at 1.6% of total loans is well below peer and industry medians with the large majority of FNB’s NDFI portfolio in the Call Report’s “Other Loans” category(1) which supports firm’s working capital and acquisition growth strategies, not lending activities. ❖ Non-owner occupied CRE to Tier 1 Capital + Allowance equaled 182%(2) as of September 30, 2026. ❖ Granular non-owner occupied CRE portfolio diversified across property type and geographies with an average loan size of $1.5 million. (1) “Other loans”, RCONPV09, primarily consists of family wealth offices and insurance companies. (2) Based on internal data. Equip Finance / Comm. Leasing 4% C&I 22% Owner-Occupied 11% Non-Owner CRE 22% Residential Mortgage 26% Home Equity 7% HELOC 4% Indirect 3% Other 1% Total Loans: $36.5 Billion
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Residential: Multifamily 28% Retail 22% Office 17% Industrial / Warehouse 12% Other 10% Residential: 1‐4 Family 7% Senior Care 4% Commercial Loans and Leases Portfolio Detail 11 Non-Owner Occupied CRE(1) as of September 30, 2026 $8.0 Billion (1) Totals may not sum due to rounding. (2) Includes Commercial Leasing/Equipment Finance C&I and Owner Occupied CRE(1)(2) as of September 30, 2026 Manufacturing 22% Retail Trade 8% Wholesale Trade 8% Construction 7% Prof. Services 7% Transportation 7%Finance & Insurance 6% Health Care & Social Assist 5% Rental & Leasing 5% Utilities 5% Other 5% Education 4% Mgmt. & Admin Svcs. 4% Other Services 3% Food & Accom. 3% Arts, Ent. & Rec 2% $13.3 Billion Granular commercial loan portfolio across industry and product
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Average, $ in millions 3Q26 2Q26 3Q25 QoQ ∆(1) YoY ∆ 3Q26 Highlights Securities $8,047 $7,971 $7,615 1.0% 5.7% Total Loans 36,115 35,501 34,814 1.7% 3.7% Commercial Loans and Leases 21,290 21,227 21,174 0.3% 0.5% Consumer Loans 14,825 14,274 13,640 3.9% 8.7% Earning Assets 45,989 45,411 44,480 1.3% 3.4% Total Deposits 38,805 38,659 37,891 0.4% 2.4% Non-Interest Bearing Deposits 10,039 9,942 9,905 1.0% 1.4% Interest-Bearing Deposits 28,766 28,717 27,986 0.2% 2.8% o Growth in securities reflects opportunistic reinvestment at yields ~200 bps higher than roll-off yields. o Commercial loans and leases growth was driven by commercial and industrial loans offset by a decline in commercial real estate loans due to payoff activity. o Consumer loan growth included strong organic activity in residential mortgages, indirect auto loans and HELOCs. o Average deposit growth was due to growth in new and existing customer relationships, as well as seasonal commercial deposit inflows. o The mix of non-interest bearing deposits to total deposits remains stable at 26%. Balance Sheet Highlights 12 (1) Not Annualized.
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35% 32% 30% 28% 26% 23% 20% 16% 21% 22% 19% 13% 9% 10% 18% 20% 19% 18%50% 52% 52% 53% 53% 54% 56% 58% 54% 52% 55% 56% 57% 56% 53% 54% 56% 56% 16% 16% 18% 19% 22% 23% 24% 26% 26% 26% 26% 31% 34% 34% 29% 26% 26% 26% $6.4 $6.6 $7.3 $9.1 $10.2 $11.4 $12.6 $16.1 $22.4 $23.5 $24.8 $29.1 $31.7 $34.8 $34.7 $37.1 $38.8 $39.6 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 3Q26 Time Deposits Interest-Bearing Deposits, Money Market & Savings Non-Interest Bearing Deposits FNB Maintains a Favorable Deposit Mix while Continuing to Grow Deposits. 2009 3Q26 Δ NIB Deposits 16% 26% +10% Time Deposits 35% 18% -17% Deposit Composition 13 (1) Totals may not sum due to rounding. Does not include Customer Repurchase Agreements. Total Period-End Deposits(1) (2009 – 3Q26) ($ in billions)
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$ in thousands, unless otherwise stated 3Q26 2Q26 3Q25 QoQ Δ(2) YoY Δ 3Q26 Highlights Total interest income $595,980 $578,013 $595,972 3.1% 0.0% Total interest expense 219,458 212,290 236,700 3.4% (7.3%) Net interest income $376,522 $365,723 $359,272 3.0% 4.8% Non-interest income 92,599 96,951 98,170 (4.5%) (5.7%) Total revenue $469,121 $462,674 $457,442 1.4% 2.6% Net interest margin (FTE)(1) 3.29% 3.25% 3.25% 4 bps 4 bps Average earning asset yields (FTE)(1) 5.18% 5.13% 5.36% 5 bps (18) bps Average loan yield (FTE)(1) 5.56% 5.52% 5.79% 4 bps (23) bps Cost of funds 2.01% 1.99% 2.23% 2 bps (22) bps Cost of interest-bearing deposits 2.37% 2.36% 2.66% 1 bp (29) bps Cost of interest-bearing liabilities 2.62% 2.59% 2.92% 3 bps (30) bps o Record net interest income increased linked-quarter, primarily due to growth in earning assets, higher yield on earning assets(1) and the impact of one more day in the current quarter more than offsetting a slight increase in the cost of funds. o Pre-provision net revenue(1) totaled $212.2 million, a 1.3% increase from the prior quarter. o Net interest margin (FTE)(1) equaled 3.29%, an increase of 4 basis points from the prior quarter. o Total cost of funds increased 2 basis points linked quarter as the costs of interest-bearing deposits was relatively stable with only a 1 basis point increase. Revenue Highlights 14 (1) A non-GAAP measure. (2) Not annualized.
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Balance Sheet Repricing Other 15 ❖ ~45% of loans reprice within 3 months. ❖ ~$1.0 billion annual cash flow from the investment portfolio with a roll-off yield of ~2.99%. o Duration of investment portfolio is 3.7 years. ❖ Total time deposits of $7.2 billion with a weighted average maturity of 7.5 months. o 3Q26 average new volume originations were 3 months longer than the average March originations as a result of an intentional lengthening of our CD portfolio beginning in late spring 2026. ❖ We continually evaluate our IRR position and utilize our asset/liability positioning and duration as natural balance sheet hedges, as well as synthetic derivatives on a limited basis to achieve desired NII and capital levels. o $1.75 billion of receive fixed swaps(2) at weighted average rate of 3.83% mature between 2027 and 2030. Prime SOFR Other 36.6% 45.3% 3.3% 14.8% - 2,000,000 4,000,000 6,000,000 8,000,000 10,000,000 12,000,000 14,000,000 16,000,000 18,000,000 Fixed ≤3 month 3-12 months > 12 months Other Loan Repricing Frequency as of September 30, 2026 Total Loans and Leases: $36.5 billion (1) Time deposit amount includes brokered deposits. (2) The loan swaps and collars are hedging 1M Term SOFR or 1M Fallback Rate SOFR exposure. (3) Represents the daily average for 1 month term SOFR for each month. ~$13 billion of loans and leases are tied to 1M Term SOFR 1 Month Term SOFR(3) 4.17% 4.03% 3.95% 3.75% 3.67% 3.67% 3.67% 3.66% 3.62% 3.63% 3.69% 3.66% 3.84% 9/25 10/25 11/25 12/25 1/26 2/26 3/26 4/26 5/26 6/26 7/26 8/26 9/26
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$ in thousands, unless otherwise stated 3Q26 2Q26 3Q25 QoQ Δ(1) YoY Δ 3Q26 Highlights Service charges $24,515 $23,749 $23,191 3.2% 5.7% Interchange and card transaction fees 13,494 13,303 13,424 1.4% 0.5% Trust services 12,151 12,574 11,647 (3.4%) 4.3% Insurance commissions and fees 5,388 5,410 4,495 (0.4%) 19.9% Securities commissions and fees 9,129 9,503 8,868 (3.9%) 2.9% Capital markets income 6,423 8,014 7,875 (19.9%) (18.4%) Mortgage banking operations 5,569 5,319 9,183 4.7% (39.4%) Dividends on non-marketable securities 7,489 6,733 6,110 11.2% 22.6% Bank owned life insurance 4,668 5,331 4,208 (12.4%) 10.9% Net securities gains (losses) 58 27 0 114.8% NM(2) Other 3,715 6,988 9,169 (46.8%) (59.5%) Total reported non-interest income $92,599 $96,951 $98,170 (4.5%) (5.7%) Non-Interest Income 16 o Services charges and interchange and card transaction fees increased linked quarter, both driven by strong treasury management activity and seasonally higher consumer transactions. o Insurance commissions and fees increased year over year due to strong growth in Property and Casualty business. o Capital markets income reflected strong contributions from our numerous businesses while decreasing $1.6 million primarily due to strong debt capital markets income in the prior quarter. o Other non-interest income decrease was driven by higher residual gains on equipment leases in 2Q26; and a recovery in 3Q25 on an other asset that was previously written off as part of a 2017 acquisition. (1) Not annualized. (2) Not meaningful.
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$162 $202 $249 $275 $300 $310 $330 $323 $321 $350 $369 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 ❖ Priority to continuously make strategic investments to develop and expand new high-value business units that complement our existing products and services. ❖ FNB has established or significantly expanded 11 business lines that are now multi-million-dollar revenue generators(1), leading to a 9% compounded annual growth rate (CAGR) since 2015 for non-interest income. o FNB introduced investment banking and public finance capabilities in 2026, with both contributing fee revenue in 2026. o Family Wealth Advisory was launched in August 2026 to expand our Family Wealth platform to serve ultra -high- net-worth clients. ❖ Capital Markets’ deep product set includes interest rate and commodities derivatives, international banking, syndications, debt capital markets, public finance and investment banking, allowing FNB to serve all our clients throughout their business’s life cycle and deepen our customer relationships by serving as a trusted advisor. o Capital Markets revenue has more than doubled since 2015. Total Operating Non-interest Income(2) 9% CAGR since 2015 (Chart in millions) Strategic Objective to Drive Diversified Fee Income Growth 17 Mortgage Banking Income Capital Markets Income Wealth Management Insurance Revenues Service Charges & Interchange and Card Transaction Fees Other (1) Does not include lines of businesses that were added since 2024. (2) A non-GAAP measure.
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$ in thousands, unless otherwise stated 3Q26 2Q26 3Q25 QoQ Δ(2) YoY Δ 3Q26 Highlights Salaries and employee benefits $132,848 $135,603 $131,575 (2.0%) 1.0% Occupancy and equipment 51,038 49,717 44,823 2.7% 13.9% Outside services 30,024 28,246 26,033 6.3% 15.3% Marketing 4,332 3,954 5,517 9.6% (21.5%) FDIC insurance(1) 8,677 8,278 8,623 4.8% 0.6% Bank shares tax 4,443 4,442 3,959 0.0% 12.2% Other 25,581 23,009 25,277 11.2% 1.2% Non-interest expense, excluding significant items impacting earnings (1) $256,943 $253,249 $245,807 1.5% 4.5% Significant items impacting earnings 0 0 (2,272) NM(4) NM(4) Total reported non-interest expense $256,943 $253,249 $243,535 1.5% 5.5% Non-Interest Expense 18 o Salaries and employee benefits decreased linked quarter primarily due to lower variable compensation in the current quarter. o Outside services increased linked quarter due to higher third-party legal costs. o Net occupancy and equipment increased linked quarter primarily due to technology-related investments. o The linked-quarter increase in other non-interest expense largely reflected fraud losses. o The efficiency ratio(3) totaled 53.7%, stable to the prior quarter. (1) Excludes amounts related to significant items impacting earnings: reduction in the estimated FDIC assessment related to the 2023 bank failures of ($2.3) million in 3Q25. (2) Not annualized. (3) A non-GAAP measure. (4) Not meaningful.
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CET1 Ratio Strong Capital Position 19 FNB’s capital levels provide ample flexibility to grow the balance sheet and optimize shareholder returns while appropriately managing risk. TCE Ratio(1) 7.6% 7.2% 7.4% 7.2% 7.8% 8.2% 8.9% 8.9% 8.9% 8.7% 2019 2020 2021 2022 2023 2024 2025 1Q26 2Q26 3Q26 9.4% 9.8% 9.9% 9.8% 10.0% 10.6% 11.4% 11.4% 11.4% 11.3% 2019 2020 2021 2022 2023 2024 2025 1Q26 2Q26 3Q26 (6) (1) A non-GAAP measure, refer to Non-GAAP to GAAP Reconciliation for further information. (2) Hypothetical TCE calculation if FNB’s HTM unrealized losses were included as part of the calculation. (3) Hypothetical CET1 calculation if FNB’s AFS losses were included as part of this calculation. (4) Hypothetical CET1 calculation if FNB’s AFS and HTM unrealized losses were included as part of this calculation. (5) 3Q26 TCE ratio(1) was negatively impacted by 38 bps of AOCI compared to 21 bps in 2Q26. (6) Estimated for 3Q26. FNB repurchased $51 million, or 2.7 million shares, of common stock at a weighted average share price of $18.69 in 3Q26 bringing the year-to-date total to $133 million, or 7.4 million shares, of common stock at a weighted average share price of $17.90. This represents 2.1% of shares outstanding at the beginning of the year. TCE Ratio (non-GAAP)(1) 8.7% TCE Ratio, adjusted for HTM(2) 8.1% Third Quarter 2026 TCE Capital Levels CET1 Ratio 11.3% CET1 Ratio, adjusted for AFS(3) 10.9% CET1 Ratio, adjusted for AFS & HTM(4) 10.2% Third Quarter 2026 CET1 Capital Levels (5)
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2026 Financial Objectives 20 (1) Targets are relative to December 31, 2025. (2) The implied 4Q26 midpoint is not guidance, but represents the midpoint of the full year guidance range less the three quarters of reported financials. FY 2026 Guidance Implied 4Q26 Midpoint (2) Commentary Spot Loans Mid-single digit growth Loan growth anticipated across the portfolio driven by increasing market share and our diverse geographic footprint. Spot Deposits Mid-single digit growth Deposit growth driven by continued deepening customer relationships and leveraging our digital and data analytics capabilities. Net Interest Income (non-FTE) $1.485-$1.500 billion $391 million Assume a 25 bps Fed rate hike in December 2026, which is not expected to materially impact results given the timing in the quarter. Non-Interest Income $370-$380 million $94 million Expect continued benefits from our diversified strategy. Provision Expense $80-$90 million $26 million To support loan growth, charge-off activity and macroeconomic and geopolitical uncertainty. Non-Interest Expense $1.01-$1.02 billion $252 million Expected to be toward the high-end of the full-year guidance range. Effective Tax Rate 21-22% Assumes no investment tax credit activity for 2026. Income Statement Balance Sheet(1)
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Ticker Institution Ticker Institution ASB Associated Banc-Corp. KEY Key Corp. BKU BankUnited, Inc. PNFP Pinnacle Financial Partners BOKF BOK Financial Corp. SFNC Simmons First National Corp. CBSH Commerce Bancshares, Inc. SSB SouthState Corp. CFR Cullen/Frost Bankers, Inc. TCBI Texas Capital Bancshares, Inc. COLB Columbia Banking System, Inc. UMBF UMB Financial Corp. FHN First Horizon Corp. VLY Valley National Bancorp. FULT Fulton Financial Corp. WBS Webster Financial Corp. HBAN Huntington Bancshares, Inc. ZION Zions Bancorp. HWC Hancock Whitney Corp. 2026 Peer Group Listing 21
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Non-GAAP to GAAP Reconciliation 22
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