Company: TFC
Filing Date: 2025-03-17
Form Type: DEF 14A
Source: 0001193125-25-055156
Chunk: 91

Company: TRUIST FINANCIAL CORP
Filing Date: 2025-03-17
Form: DEF 14A
Chunk 91
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 award adjustments are as follows: |

| (c) | Represents the deduction for the “Change in Pension Value & Nonqualified Deferred Compensation Earnings” column of the 2024 Summary Compensation Table. |

| 2025 Proxy Statement | |     | 77 |

Pay Versus Performance

| (d) | The total pension benefit adjustments for 2024 include the aggregate of two components: (i) the actuarially determined service cost for services rendered by Mr. Rogers during 2024 (the “service cost”); and (ii) the entire cost of benefits granted in a plan amendment (or initiation) during 2024 that were attributed by the benefit formula to services rendered in periods prior to the plan amendment or initiation (the “prior service cost”), in each case, calculated in accordance with U.S. GAAP. The amounts deducted or added in calculating the pension benefit adjustments are as follows: |

| Year |     | Service Cost |     |         |     | Prior Service Cost |     |   |     | Total Pension Benefit 
 Adjustments           |     |         |
| 2024 |     |              |     | $33,537 |     |                    |     | — |     |                       |     | $33,537 |

| 3. | The dollar amounts reported in column (d) represent the average of the amounts reported for the Company’s NEOs as a group (excluding Mr. King and/or Mr. Rogers, as applicable) in the “Total” column of the Summary Compensation Table in each applicable year.The names of each of the NEOs (excluding Messrs. King and Rogers, as applicable, as described above in Note 1) included for purposes of calculating the average amounts in each applicable year are as follows: (i) for 2024, Michael B. Maguire, Kristin Lesher, Hugh S. Cummins III, and Dontá L. Wilson; (ii) for 2023, Michael B. Maguire, Hugh S. Cummins III, Clarke R. Starnes III, Dontá L. Wilson, and John M. Howard; (iii) for 2022, Daryl N. Bible, Michael B. Maguire, Hugh S. Cummins III, Clarke R. Starnes III, and Dontá L. Wilson; (iv) for 2021, Hugh S. Cummins III, Clarke R. Starnes III, Daryl N. Bible, John M. Howard,