Slides
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1 Truist Financial Corporation Fixed Income Presentation Second Quarter 2026
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2 From time to time we have made, and in the future will make, forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by the fact that they do not relate strictly to historical or current facts. Forward-looking statements often use words such as “believe,” “expect,” “anticipate,” “intend,” “pursue,” “seek,” “continue,” “estimate,” “project,” “outlook,” “forecast,” “potential,” “target,” “objective,” “trend,” “plan,” “goal,” “initiative,” “priorities,” or other words of comparable meaning or future-tense or conditional verbs such as “may,” “will,” “should,” “would,” or “could.” Forward -looking statements convey our expectations, intentions, or forecasts about future events, circumstances, or results. In particular, forward-looking statements include statements we make about: (i) Truist's targets and outlook for return on average tangible common equity, including its targets of 14% or more for 2026, approximately 15% for 2027, and 16% to 18% over the long term, and its ability to achieve those targets; (ii) Truist's expectations regarding business growth and profitability initiatives, positive operating leverage, fixed-rate asset repricing, balance sheet optimization, capital returns, and the economic and operating environment; and (iii) Truist's plans and targets for capital actions, including its target of $5 billion of common stock repurchases in 20 26 and the return of significant capital to shareholders. This presentation, including any information incorporated by reference in this presentation, contains forward-looking statements. We also may make forward-looking statements in other documents that are filed or furnished with the SEC. In addition, we may make forward-looking statements orally or in writing to investors, analysts, members of the media, and others. All forward- looking statements, by their nature, are subject to assumptions, risks, and uncertainties, which may change over time and many of which are beyond our control. You should not rely on any forward- looking statement as a prediction or guarantee about the future. Actual future objectives, strategies, plans, prospects, performance, conditions, and results may differ materially from those set forth in any forward-looking statement. While no list of assumptions, risks, and uncertainties could be complete, some of the factors that may cause actual results or other future events or circumstances to differ from those in f orward-looking statements include: • changes in monetary, fiscal, and trade laws or policies, including tariffs or interest rates; • evolving political, geopolitical, business, social, economic, and market conditions at the local, regional, national, and international levels; • our ability to effectively address economic, business, or market deterioration, slowdowns or disruptions; • disruptions and shifts in investor sentiment or behavior in the securities, capital, or other financial markets, including financial or systemic shocks and volatility or changes in market liquidity, interest or currency rates, or valuations; • changes in business and consumer sentiment, preferences, or behavior, including spending, borrowing, or saving by businesses or households; • negative market perceptions of our investment portfolio or its value; • our ability to manage credit risk, including in connection with the loans that we originate or purchase; • the credit, liquidity, or other financial condition of our clients, counterparties, service providers, or competitors; • our ability to cost-effectively fund our businesses and operations, including by accessing long- and short-term funding and liquidity and by retaining and growing client deposits; • our ability to manage any unexpected outflows of uninsured deposits and, in such a circumstance, to access substitute funding, and avoid selling investment securities or other assets at an unfavorable time or at a loss; • changes in our credit ratings and the related effects on our funding costs, ability to attract or retain funding, and relationships with clients and counterparties; • any instability or breakdown in the financial system, including as a result of the actual or perceived soundness of another financial institution or another participant in the financial system; • our ability to maintain secure and functional financial, accounting, technology, data processing, or other operating systems or infrastructure, including those that safeguard personal and other sensitive information; • our ability to keep pace with changes in technology, including technology-driven products and services relating to AI, that affect us or our clients, counterparties, service providers, or competitors or to maintain rights or interests in associated intellectual property; • our ability to manage system failures or disruptions affecting operations, communications, or other systems or processes; • our ability to identify, assess, monitor, and mitigate physical-security and cybersecurity risks, including denial-of-service attacks, hacking, phishing, social-engineering attacks, malware intrusion, data-corruption attempts, system breaches, identity theft, ransomware attacks, AI-driven cyberattacks, environmental conditions, and intentional acts of destruction; • the performance, availability, and resilience of third-party service providers on whom we rely in delivering products and services to our clients and otherwise in conducting our business and operations; • the adequacy and effectiveness of our corporate governance, risk-management framework, compliance programs, and internal controls over financial reporting, including our ability to identify, assess, monitor, and mitigate risks, remediate lapses or defic iencies in financial reporting, and make appropriate estimates; • our ability to develop, maintain, and market our products or services and to manage risks and unanticipated costs or liabilit ies associated with those products or services; • our ability to satisfactorily and profitably perform loan servicing and similar obligations; • the legal, regulatory, and supervisory environment, including changes in financial services legislation, regulation, policies, or government leadership or personnel; • U.S. and international regulatory capital and liquidity requirements and standards and their effects on our capital and liquidity levels, ratios, buffers, and targets, and our ability to pay or increase dividends, repurchase shares, or take other capital actions; • our ability to address scrutiny and expectations from supervisory or other governmental authorities and to timely and credibly remediate related concerns or deficiencies; • judicial, regulatory, and administrative inquiries, examinations, investigations, proceedings, disputes, or rulings that create uncertainty for or are adverse to us or the financial services industry; • the outcomes of judicial, regulatory, and administrative inquiries, examinations, investigations, proceedings, disputes, or rulings to which we are or may be subject (either directly or indirectly through our ownership interests in other entities) and our ability to absorb and address any damages or other remedies that are sought or awarded and any collateral consequences; • our ability to execute strategic and operational plans, including with respect to accelerating growth, improving profitability, investing in talent and technology, maintaining expense, credit, and risk discipline, and returning capital to shareholders; • our ability to innovate, to anticipate the needs of current or future clients, or to make timely and effective technology investments and enhancements to meet client expectations; • our ability to compete successfully, to increase or maintain market share in changing competitive environments, or to address pricing or other competitive pressures, including competition from banks and nonbanks and the effects of digital assets, cryptocurrencies, stablecoins, tokenization, and other emerging products, services, and technologies relating to deposits, lending, and payments; • changes in our corporate and business strategies, the composition of our assets, or the way in which we fund those assets; • our ability to successfully make and integrate acquisitions and to effect divestitures, which may include regulatory approvals and conditions; • the efficacy of our methods or models in assessing business strategies or opportunities or in valuing, measuring, estimating, monitoring, or managing positions or risk; • evolving accounting standards and policies and related changes to interpretations; • damage to our brand or negative public opinion or adverse publicity affecting us, our leaders, or our service providers, including the impact on our relationships with clients, teammates, and other stakeholders; • our ability to attract, hire, and retain key teammates and to engage in adequate succession planning; • our ability to identify, assess, monitor, and mitigate the risk of fraud or misconduct by internal or external parties, inclu ding potential losses that may result; • policies and other actions of governments to manage and mitigate climate and related environmental risks, and the effects of climate change or the transition to a lower-carbon economy on our business, operations, and reputation; • natural or other disasters, calamities, and conflicts, including terrorist events, cyber-warfare, and pandemics that impact us or our clients, teammates, or service providers; and • other assumptions, risks, or uncertainties described in the Company’s Annual Report on Form 10-K or subsequent reports. Any forward-looking statement made by us or on our behalf speaks only as of the date that it was made. We do not undertake to update any forward-looking statement to reflect the impact of events, circumstances, or results that arise after the date that the statement was made, except as required by applicable securities laws. You, however, should consult further disclosures (including disclosures of a forward-looking nature) that we may make in any subsequent Annual Report on Form 10-K, Quarterly Report on Form 10-Q, or Current Report on Form 8-K. Forward-looking statements
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3 Non-GAAP financial information This presentation contains financial information and performance measures determined by methods other than in accordance with accounting principles generally accepted in the United States of America ("GAAP"). Truist’s management uses these “non-GAAP” measures in their analysis of Truist’s performance and the efficiency of its operations. Management believes these non-GAAP measures are useful to investors because they provide a greater understanding of ongoing operations, enhance comparability of results with prior periods, and demonstrate the effects of significant items in the current period. Truist believes a meaningful analysis of its financial performance requires an understanding of the factors underlying that performance. These disclosures should not be viewed as a substitute for financial measures determined in accordance with GAAP, nor are they necessarily comparable to non-GAAP performance measures that may be presented by other companies. Below is a listing of the types of non-GAAP measures used in this presentation: Taxable-Equivalent Measures - Taxable equivalent revenue, taxable equivalent net interest income, taxable equivalent net interest margin, and operating leverage - taxable equivalent include a taxable equivalent adjustment utilizing the federal income tax rate of 21% for certain tax-exempt instruments. Taxable equivalent net interest margin is calculated using net interest income on a taxable equivalent basis to determine the total yield on interest-earning assets. Truist’s management uses these measures in their analysis of Truist’s performance. Truist’s management believes these measures provide a greater understanding of ongoing operations and enhance comparability of results with prior periods. Pre-provision net revenue (PPNR) - Pre-provision net revenue is a non-GAAP measure that adjusts net income determined in accordance with GAAP to exclude the impact of the provision for credit losses and provision for income taxes. Truist’s management believes this measure provides a greater understanding of ongoing operations and enhances comparability of results with prior periods. Tangible common equity and related measures - Tangible common equity and related measures, including ROTCE, are non-GAAP measures that exclude the impact of intangible assets, net of deferred taxes, and their related amortization. These measures are useful for evaluating the performance of a business consistently, whether acquired or developed internally. Truist’s management uses these measures to assess profitability, returns relative to balance sheet risk, and shareholder value. Truist does not provide reconciliations for forward-looking non-GAAP financial measures because it is unable to provide a meaningful or accurate calculation or estimation of reconciling items and the information is not available without unreasonable effort. This is due to the difficulty of forecasting the occurrence and the financial impact of various items that have not yet occurred, are out of Truist’s control, or cannot be reasonably predicted. For the same reasons, Truist is unable to address the probable significance of the unavailable information. A copy of this presentation is available on the Truist Investor Relations website, ir.truist.com.
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Truist Overview
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Purpose Inspire and build better lives and communities Mission Provide distinctive, secure, and successful client experiences through touch and technology. Clients Create an inclusive and energizing environment that empowers teammates to learn, grow, and have meaningful careers. Teammates Optimize long-term value for stakeholders through safe, sound, and ethical practices. Stakeholders Values Trustworthy We serve with integrity. Caring Everyone and every moment matters. One Team Together, we can accomplish anything. Success When our clients win, we all win. Happiness Positive energy changes lives. 5
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As of 6/30/26 6 Truist Financial Corporation is a purpose-driven financial services company committed to inspiring and building better lives and communities. Headquartered in Charlotte, North Carolina, Truist has leading market share in many of the high-growth markets in the U.S. and offers a wide range of products and services through wholesale and consumer businesses, including consumer and small business banking, commercial and corporate banking, investment banking and capital markets, wealth management, payments, and specialized lending businesses. Truist is a top-10 commercial bank with total assets of $556 billion as of June 30, 2026. Truist Bank, Member FDIC. Equal Housing Lender. Learn more at Truist.com. – Headquarters: Charlotte, North Carolina – 15MM+ clients served across the U.S. – 17 states + D.C. – our footprint includes seven of the top 10 fastest-growing markets in the U.S. – Top 10 U.S. commercial bank Fast facts – 1,900+ branches – 2,800+ ATMs – $556B total assets – $332B loans – $409B deposits
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7 – Full array of products & services to meet clients’ financial needs – ~60% of loans are commercial and ~40% are consumer – Strong market share in many of the most vibrant U.S. markets – Regional and national businesses (Consumer and Small Business Banking, Commercial and Corporate Banking, Investment Banking and Capital Markets, Wealth Management, Payments, and specialized lending businesses). Business diversity matters Other Consumer includes deposits from Consumer and Small Business Banking, including Premier May not foot due to rounding Branch Banking 32% Consumer Lending 17%CML & Corp Banking 19% Wealth 11% IB & Cap. Mkts 8% TAF 8% Sm Biz & Cons Oth 5% 2Q26 revenue business mix
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Loans 60% Securities 21% Nonearning assets 11% Other assets 7% 8 2Q26 average assets Deposits 74% Total equity 12% LT debt 7% 2Q26 average liabilities Deposit mix noninterest-bearing: 26% interest-bearing: 74% Other assets include interest earning trading assets May not foot due to rounding Balance sheet overview
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Commercial & industrial 51% Residential mortgage 17% CRE and commercial construction 10% Other consumer 10% Indirect auto 7% 9 Money market & savings 34% Interest checking 31%Noninterest-bearing 26% Time 10% 2Q26 average loan HFI portfolio 2Q26 average deposit portfolio Diverse loan and deposit portfolio May not foot due to rounding
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10 – Risk appetite framework measures actual risk vs. moderate risk appetite across all risk disciplines – Through-the-cycle underwriter – Conservative credit risk culture which values – Diversification – Prudent client selection – Appropriate risk compensation – Effective and early problem asset resolution Disciplined risk process 2.5% TFC Stress capital buffer (Effective through 9/30/2027) 0.51% 0.68% TFC Peer median NPLs / loans HFI (6/30/26) Source: Federal Reserve, S&P Capital IQ, and company reports 6.9% 8.7% TFC Peer median C&I loan loss rate (2026 CCAR – severely adverse scenario) Disciplined, purposeful growth drives resilience under stress
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Investment Portfolio, Capital, and Debt Profile
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12 Agency MBS Residential 100% US Treasuries 18% Agency MBS Residential 74% Agency MBS CML 5% Other 3% Portfolio metrics and allocation 2Q26 AFS - $72.2B 2Q26 HTM - $46.4B Other category includes collateralized loan obligations, GSE, states and political subdivisions, and other debt AFS total includes portfolio level fair value hedge basis adjustments related to active portfolio layer method hedges Investment portfolio
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Truist is strong, stable, and well-capitalized. Our credit ratings, liquid balance sheet, and high-quality pledgeable collateral provide us access to a broad array of funding sources to meet your needs. Capital – Truist is well-capitalized with a CET1 ratio of 10.9% at 6/30/26 Liquidity – Our liquidity coverage ratio (LCR) continues to exceed the regulatory minimum – To ensure a strong liquidity position and compliance with regulatory requirements, Truist maintains a liquid asset buffer of cash on hand and highly liquid unencumbered securities Prudent risk management – Our disciplined risk and financial management has yielded strong stress test results – Supported by teammates, processes, and systems to identify, measure, monitor, manage, and report significant risks Capital actions and commentary – CET1 ratio increased 10 bps to 10.9% vs. 1Q26 – Balance sheet optimization efforts improving RWA density – Returned $1.8 billion of capital or 121% of earnings to shareholders in 2Q26 through our common dividend and $1.2 billion of share repurchases – Continue to target share repurchases of $5 billion in 2026 13 Strong capital and liquidity
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4.3 2.8 2.0 11.5 0.7 1.0 2.9 2.0 1.3 7.1 4.7 2.0 14.5 2028 2029 2030 Thereafter HoldCo Senior HoldCo Sub Bank Senior Bank Sub 3.0 1.3 4.5 1.6 1.3 2.3 3.3 3.9 8.0 4.5 2.5 4.5 3.5 1.0 0.5 10.0 4.5 4.9 8.0 4.5 7.0 6.6 2020 2021 2022 2023 2024 2025 2026 Bank Senior Bank Sub Hold Co Senior Hold Co Sub/JSN Truist unsecured funding profile 14 Data as of 6/30/26; Totals may not foot due to rounding; Amounts reflected above represent long-term debt at carrying values as of 2Q26 10-Q; excludes FHLB advances; 1 Per the proposal, external LTD principal that is due to be paid in less than two years would be subject to a 50 percent haircut for purposes of the LTD requirement in the draft final rule, and external LTD principal due to be paid in less than one year would not count towards the LTD requirement or the TLAC requirement. 2 Long-Term Debt issuance illustrated to the call date where applicable 3 Tenor illustrates maturity date Gross issuance by security type Qualifying long-term debt (“LTD”) maturity profile1,2 Gross issuance by tenor(3) Gross debt maturity by contractual obligation date $ in billions 0.9 4.3 16.3 0.7 1.0 2.0 2.9 0.8 1.3 0.8 2.9 8.5 18.5 2027 2028 2029 Thereafter HoldCo Senior HoldCo Sub Bank Senior Bank Sub 1.8 2.3 2.3 1.5 4.5 2.9 4.8 2.3 0.9 3.3 2.5 1.3 2.31.8 3.3 2.0 1.3 1.0 3.5 0.5 10.0 4.5 4.9 8.0 4.5 7.0 6.6 2020 2021 2022 2023 2024 2025 2026 <5 yrs 5-10 yrs 10+ yrs Perpetual Gross issuance by tenor3 Gross debt maturity by contractual obligation date
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2Q26 Takeaways
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16 Commentary reflects like quarter comparisons, unless otherwise noted 1 Represents a non-GAAP financial measure; see appendix for reconciliations 2Q26 key takeaways 2Q26 by the numbers $1.5 billion Net income available to common shareholders $1.23 Diluted EPS Executing on strategic priorities 320 bps Positive operating leverage-TE1 15.4% Return on average tangible common equity1 $1.8 billion Capital returned to shareholders – Delivered 37% diluted EPS growth – Generated 17% noninterest income growth – Delivered 320 bps of positive operating leverage – Maintained strong asset quality metrics – Improved ROTCE by 310 bps to 15.4% – On track to achieve ROTCE targets
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17 Consumer and Small Business Banking highlights 6 Driving growth with Premier clients Active mobile app users1 (in millions) Digital transaction volume (in millions) 39% YoY increase in CSBB new-to-bank deposit production 4% 7% 2% 2% 150 bps YoY increase in online and mobile banking share of digital account production Deposit production per Premier advisor up 23% YoY Premier client new deposit production balances increased 20% YoY Average CSBB loans HFI ($ in billions) Average CSBB deposits ($ in billions) Premier advisor financial planning up 9% YoY 1 Clients who have logged into the mobile app over the prior 90 days 15% increase in 1H26 Wealth clients referred by CSBB vs. the prior period Growth moderated by portfolio optimization actions
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18 +6% ex. M&A-related client deposits Card and treasury management fees ($ in millions) Wealth management income ($ in millions) 1 Average deposits include $10.9 billion of relatively high rate, short-term, M&A-related client deposits that were added to the balance sheet in late 1Q25. These deposits were withdrawn in July 2025. 2 Includes M&A, equity capital markets, and financial risk management Wholesale Banking highlights Core deposit strength 27% increase in 1H26 IB&T advisory revenue(2) vs. the prior period 35% increase in 1H26 commercial and corporate banking new client acquisition vs. the prior period 23% growth in 1H26 new investment assets from Truist client base vs. the prior period 7 Average Wholesale deposits(1) and loans HFI ($ in billions) 72% 8% (1%) 8% Investment banking & trading income ($ in millions) LoansDeposits 1% 4 consecutive quarters of client deposit growth 75% of clients with the largest deposit increases are tied to payments Added master servicing capability in real estate to drive additional deposits and fee income Broad-based deposit growth across segment with 6% YoY growth in commercial and middle market M&A-related client deposits $11
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19 $ in millions, except per share data Key metrics 2Q26 vs. 1Q26 vs. 2Q25 Revenue $5,311 2.2% 5.5% Expense $3,055 2.4% 2.3% PPNR $2,256 1.9% 10% Net income available to common shareholders $1,519 10% 29% Diluted EPS $1.23 13% 37% Net interest margin 2.98% (4) bps (4) bps ROA 1.13% 3 bps 20 bps ROCE 10.4% 110 bps 230 bps ROTCE 15.4% 160 bps 310 bps Efficiency ratio 58.0% 10 bps (190) bps NCO ratio 0.50% (11) bps (1) bp TBVPS $33.40 0.6% 5.6% CET1 ratio 10.9% 10 bps (10) bps Performance highlights – Noninterest expense increased 2.4% vs. 1Q26 primarily due to higher personnel expense and professional fees and outside processing – Noninterest expense increased 2.3% vs. 2Q25 primarily due to higher personnel expense partially offset by lower professional fees and outside processing Capital Noninterest expense – Reported 2Q26 net income available to common shareholders of $1.5 billion, or $1.23 per share – Diluted EPS increased 13% vs. 1Q26 and 37% vs. 2Q25 Earnings Revenue – Asset quality metrics remained strong Asset quality Note: All data points are taxable equivalent, where applicable; PPNR, ROTCE, and TBVPS are also non-GAAP financial measures; see appendix for reconciliations Current quarter regulatory capital information is preliminary – CET1 ratio increased to 10.9%; repurchased $1.2 billion of common stock in 2Q26 – Revenue increased 2.2% vs. 1Q26 primarily due to higher other income – Revenue increased 5.5% vs. 2Q25 primarily due to higher investment banking and trading and wealth management income
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To inspire and build better lives and communities
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AppendixAppendix
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1Q22 earnings recap 22 2Q26 performance highlights Net income available to common shareholders (up 29% YoY) CET1 ratio YoY increase in revenue YoY positive operating leverageDiluted EPS (up 37% YoY) Return on average tangible common equity1 (up 310 bps YoY) Capital returned to shareholders (up 29% YoY) Increase in fee income YoY, led by 72% YoY increase in Investment Banking & Trading 10.9% $1.5B $1.23 5.5% 320 bps 15.4% $1.8B 17% 1 Represents a non-GAAP financial measure; see appendix for reconciliations
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Credit ratings Truist Financial Corporation 23 Rating S&P Moody’s Fitch DBRS Morningstar Outlook / credit trend Stable Stable Stable Stable Issuer A- / A-2 Baa1 A / F1 AAL / R-1M Senior debt A- Baa1 A- AAL Subordinated debt BBB+ Baa1 BBB+ AH Preferred stock BBB- Baa3(hyb) BBB- AL Rating S&P Moody’s Fitch DBRS Morningstar Outlook / credit trend Stable Stable Stable Stable Issuer A / A-1 A3 A / F1 AA / R-1H Deposits No rating A1 / P1 A+ / F1 AA Senior debt A A3 A AA Subordinated debt A- A3 A- AAL Truist Bank As of 7/20/26
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24 On track to achieve ROTCE targets ROTCE outlook Key drivers of profitability improvement Execute top business growth and profitability initiatives Drive positive operating leverage Stable economic and operating environment Continue to optimize balance sheet and return significant capital to shareholders ~14% ~15% ROTCE is a non-GAAP metric that excludes the impact of intangible assets, net of deferred taxes, and their related amortization.See appendix for non-GAAP reconciliations. As reported 7/17/2026 Benefit from fixed rate asset repricing 16% to 18% 14%+ 12.7%
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A-25 Non-GAAP reconciliations Net interest income, revenue, operating leverage, pre-provision net revenue $ in millions 1. Taxable equivalent revenue, taxable equivalent net interest income, taxable equivalent net interest margin, and operating leverage - taxable equivalent include a taxable equivalent adjustment utilizing the federal income tax rate of 21% for certain tax-exempt instruments. Taxable equivalent net interest margin is calculated using net interest income on a taxable equivalent basis to determine the total yield on interest-earning assets. Truist’s management uses these measures in their analysis of Truist’s performance. Truist’s management believes these measures provide a greater understanding of ongoing operations and enhance comparability of results with prior periods. 2. Pre-provision net revenue is a non-GAAP measure that adjusts net income determined in accordance with GAAP to exclude the impactof the provision for credit losses and provision for income taxes. Truist’s management believes this measure provides a greater understanding of ongoing operations and enhances comparability of results with prior periods. Quarter Ended June 30 March 31 Dec. 31 Sept. 30 June 30 2026 2026 2025 2025 2025 Net income $ 1,553 $ 1,481 $ 1,354 $ 1,452 $ 1,240 Provision for credit losses 395 479 512 436 488 Provision for income taxes 262 209 210 285 273 Taxable-equivalent adjustment 46 45 49 51 48 Pre-provision net revenue2 $ 2,256 $ 2,214 $ 2,125 $ 2,224 $ 2,049 Quarter Ended June 30 March 31 Dec. 31 Sept. 30 June 30 2026 2026 2025 2025 2025 Revenue $ 5,265 $ 5,152 $ 5,246 $ 5,187 $ 4,987 Taxable-equivalent adjustment 46 45 49 51 48 Revenue-TE1 $ 5,311 $ 5,197 $ 5,295 $ 5,238 $ 5,035 Total noninterest expense $ 3,055 $ 2,986 Operating leverage (like quarter) 3.3 % Operating leverage-TE1 (like quarter) 3.2 % Quarter Ended June 30 March 31 Dec. 31 Sept. 30 June 30 2026 2026 2025 2025 2025 Net interest income $ 3,621 $ 3,599 $ 3,700 $ 3,629 $ 3,587 Taxable-equivalent adjustment 46 45 49 51 48 Net interest income-TE1 $ 3,667 $ 3,644 $ 3,749 $ 3,680 $ 3,635
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A-26 1. Calculated using the applicable marginal tax rate. 2. Tangible common equity and related measures, including ROTCE, are non-GAAP measures that exclude the impact of intangible assets, net of deferred taxes, and their related amortization. These measures are useful for evaluating the performance of a business consistently, whether acquired or developed internally. Truist’s management uses these measures to assess profitability, returns relative to balance sheet risk, and shareholder value. Non-GAAP reconciliations Return on average tangible common equity and tangible book value per share $ in millions, except per share data, shares data in thousands As of / Quarter Ended June 30 March 31 Dec. 31 Sept. 30 June 30 2026 2026 2025 2025 2025 Total shareholders' equity $ 64,095 $ 64,214 $ 65,189 $ 65,646 $ 64,840 Preferred stock (5,411) (4,916) (4,916) (5,907) (5,907) Common shareholders’ equity $ 58,684 $ 59,298 $ 60,273 $ 59,739 $ 58,933 Intangible assets, net of deferred taxes (18,287) (18,350) (18,416) (18,489) (18,561) Applicable deferred taxes related to intangible assets(1) $ 400 $ 403 $ 407 $ 413 $ 418 Tangible common shareholders’ equity(2) $ 40,797 $ 41,351 $ 42,264 $ 41,663 $ 40,790 Outstanding shares at end of period 1,221,626 1,245,879 1,262,470 1,279,246 1,289,435 Common shareholders’ equity per common share $ 48.04 $ 47.60 $ 47.74 $ 46.70 $ 45.70 Tangible common shareholders’ equity per common share(2) 33.40 33.19 33.48 32.57 31.63 Net income available to common shareholders $ 1,519 $ 1,377 $ 1,289 $ 1,348 $ 1,180 Amortization of intangibles 63 64 70 72 73 Applicable income taxes related to amortization of intangibles(1) (15) (15) (16) (18) (17) Tangible net income available to common shareholders(2) $ 1,567 $ 1,426 $ 1,343 $ 1,402 $ 1,236 Average common shareholders’ equity $ 58,616 $ 59,879 $ 59,991 $ 59,141 $ 58,327 Average intangible assets (18,321) (18,386) (18,456) (18,528) (18,590) Applicable deferred taxes related to intangible assets(1) 401 404 409 415 417 Average tangible common shareholders’ equity(2) $ 40,696 $ 41,897 $ 41,944 $ 41,028 $ 40,154 Return on average common shareholders’ equity 10.4 % 9.3 % 8.5 % 9.0 % 8.1 % Return on average tangible common shareholders’ equity(2) 15.4 13.8 12.7 13.6 12.3