Company: TFC
Filing Date: 2025-03-17
Form Type: DEF 14A
Source: 0001193125-25-055156
Chunk: 52

Company: TRUIST FINANCIAL CORP
Filing Date: 2025-03-17
Form: DEF 14A
Chunk 52
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11 banks (Truist and its peer group members) based on percentage growth in the applicable financial measure relative to 2023, except that the ranking for the CET1 capital ratio is based on the CET1 capital ratios of Truist and its peer group members calculated as of December 31, 2024. The Committee assessment also considers the number of positions the Company improved over the year relative to January 2024 consensus estimates for the Company and its peer group members with respect to the applicable financial measure for 2024. See “Peer Group and Competitive Analyses” beginning on page 60. |

| (2) | On February 20, 2024, the Company entered into an agreement to sell the remaining 80% stake of the common equity in TIH to an investor group, representing substantially all of the Company’s insurance holdings segment. As a result, the 2024 Results, the Final Plan, and 2023 Results report PPNR and NIE based on continuing operations. The Board approved the Original Plan prior to the Company entering into this sale agreement and, as a result, the Original Plan does not present PPNR and NIE under the discontinued operations basis of presentation. |

| (3) | TBVPS + Dividend Growth is a growth rate. Accordingly, the 2024 Results vs. 2023 Results value is the 2024 growth rate. |

| (4) | Lower NIE indicates that resources are being used more effectively. Therefore, we have presented decreases in NIE as a positive change when compared to the Original Plan, the Final Plan, and the 2023 results. |

| (5) | Represents the Company’s ranking relative to its peer group members based on actual One-Year TSR results for 2024. See “Peer Group and Competitive Analyses” beginning on page 60. |

* Represents a non-GAAPfinancial measure. Please see Annex A for a reconciliation from the GAAP amount to the adjusted amount.

| 48 |     | | 2025 Proxy Statement |

Compensation Discussion and Analysis Against 2024 Strategic Priorities The table below presents the Company’s 2024 performance on the strategic priorities selected for the 2024 AIP award program. The Committee assessed overall performance on strategic priorities at expectations, with successful investments in risk management, completion of the divestiture of TIH and balance sheet repositioning, and disciplined expense management balanced by continued areas of improvement in risk identification, management, and remediation