Company: TFC
Filing Date: 2025-03-17
Form Type: DEF 14A
Source: 0001193125-25-055156
Chunk: 108

Company: TRUIST FINANCIAL CORP
Filing Date: 2025-03-17
Form: DEF 14A
Chunk 108
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| (1) |     | Unadjusted PPNR is a non-GAAP measure that modifies net income determined in accordance with GAAP to exclude the impact of the provision for credit losses and the provision for income taxes. PPNR is a non-GAAP measure that additionally excludes securities gains (losses), restructuring charges, amortization of intangible assets, and other selected items. Truist’s management believes these measures provide a greater understanding of ongoing operations and enhance the comparability of results with prior periods. Truist’s management uses these measures to assess profitability, returns relative to balance sheet risk, and shareholder value. |

|                                                | TBVPS                                                       
 ($ in millions, except per share data; shares in thousands) |     | Dec. 31, 2024 |     |     | Dec. 31, 2023 |
|:-----------------------------------------------|:------------------------------------------------------------|:----|--------------:|:----|:----|--------------:|
| Common shareholders’ equity                    |                                                             |     |       $57,772 |     |     |       $52,428 |
| Less: Intangible assets, net of deferred taxes |                                                             |     |        18,274 |     |     |        23,306 |
| Tangible common shareholders’ equity(1)        |                                                             |     |       $39,498 |     |     |       $29,122 |
| Outstanding shares at end of period            |                                                             |     |     1,315,936 |     |     |    $1,333,743 |
| TBVPS(1)                                       |                                                             |     |        $30.01 |     |     |        $21.83 |

| (1) |     | Tangible common equity is a non-GAAP measure that excludes the impact of intangible assets, net of deferred taxes, and their related amortization and impairment charges. This measure is useful for evaluating the performance of a business consistently, whether acquired or developed internally. Truist’s management uses this measure to assess profitability, returns relative to balance sheet risk, and shareholder value. |

LTIP and PSU Adjustments Truist’s 2022-2024 LTIP and PSU awards reference Truist’s three-year ROACE and ROATCE performance. Truist derives GAAP ROACE from its GAAP net income available to common shareholders for each year of the performance period and non-adjustedROATCE (which is a non-GAAPmeasure)