Company: TFC
Filing Date: 2025-03-17
Form Type: DEF 14A
Source: 0001193125-25-055156
Chunk: 45

Company: TRUIST FINANCIAL CORP
Filing Date: 2025-03-17
Form: DEF 14A
Chunk 45
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 dividend and share repurchase authorization |

| • | Delivering on our purpose to inspire and build better lives and communities by serving our clients with knowledge and care and supporting our communities. |

See “Strategic Direction and Planning” beginning on page 33. Reviewing 2024, the Committee noted that senior management had successfully negotiated and executed the highly challenging sale of TIH and subsequent balance-sheet repositioning without losing business and operational momentum. Adjusted pre-provisionnet revenue (“PPNR”)* was down only negligibly year-over-year despite the sizeable divestiture, with improvements in PPNR from Wholesale Banking and Consumer and Small Business Banking. Our capital position was enhanced relative to peers, while the interest-rate-risk position of the firm was meaningfully improved. The leadership of the firm was enhanced by adding highly talented executives from competitors and appropriately incentivizing select officers already in place. In all, the Committee concluded that Truist’s senior management ended the year having created long-term value for shareholders and putting Truist in a far better position to continue to create long-term value for shareholders for the foreseeable future. * Represents a non-GAAPfinancial measure. Please see Annex A for a reconciliation from the GAAP amount to the adjusted amount.

| 2025 Proxy Statement | |     | 39 |

Compensation Discussion and Analysis Section 2—Business and Performance Business Overview Truist is a purpose-driven financial-services company, dedicated to inspiring and building better lives and communities. Headquartered in Charlotte, North Carolina, Truist has a leading market share in many of the high-growth markets in the United States and offers a wide range of financial products and services through wholesale- and consumer-banking businesses. These products and services include:

| • | Branch, digital, and online banking |

| • | Premier and small-business banking |

| • | National consumer lending |

| • | Commercial and corporate banking |

| • | Investment banking and capital markets |

| • | Commercial real estate |

| • | Payments |

| • | Wealth management |

Truist Bank, the largest subsidiary of Truist Financial Corporation, was chartered in 1872 and is the oldest bank headquartered in North Carolina. Truist Bank is one of the 10 largest commercial banks in the United States and provides banking and trust services for clients through 1,928 offices as of December 31, 2024, and its digital and online platforms. Key Financial and Operational Accomplishments in 2024* Through the