Company: TFC
Filing Date: 2025-03-17
Form Type: DEF 14A
Source: 0001193125-25-055156
Chunk: 54

Company: TRUIST FINANCIAL CORP
Filing Date: 2025-03-17
Form: DEF 14A
Chunk 54
---
 TSR modifier and the achievement of minimum capital requirements, each measured over the 2024–2026 performance period. Together, these metrics are designed to align management priorities with shareholder values—supporting profitability and earnings growth, generating capital, operating within sound risk controls, and preserving strong asset quality metrics. For 2022 and 2023, we granted PSU and LTIP awards that vest based on the achievement of ROACE and Return on Average Tangible Common Equity (“ROATCE”) goals relative to Truist’s peer group (for awards granted in 2022) and ROACE goals relative to Truist’s peer group (for awards granted in 2023). In considering performance metrics for awards granted in 2024, the Committee determined to emphasize profitability and growth through the use of absolute and relative EPS metrics and also considered that the TIH transaction would impact our capital structure during the performance period, making it difficult to evaluate ROACE. 2024–2026 PSU and LTIP Award Performance Measures EPS The absolute EPS and relative EPS growth applicable to the 2024–2026 PSU and LTIP awards will be calculated each year based on GAAP EPS, as adjusted for the impact of significant unusual items and, in the case of the absolute EPS metric, substituting net charge-offs for any provision benefit or expense. Absolute EPS is evaluated against performance levels on a 3-yearcumulative basis. Relative EPS is evaluated compared to peer performance on an annual basis with the payout determined each year, and the final payout is the average of the payout earned over the three-year period. The payout will be 0% for performance results below the threshold level. Absolute EPS (75%)

| Performance Level                        |     | Metric Achievement  (% of Metric) |     |     |     | Payout Earned  (% of Target Award) |     |        |
| Maximum (25% above target performance)   |     |                                   |     | 150 |     |                                    |     | 112.50 |
| Target                                   |     |                                   |     | 100 |     |                                    |     |  75.00 |
| Threshold (43% below target performance) |     |                                   |     |  50 |     |                                    |     |  37.50 |

| 52 |     | | 2025 Proxy Statement |

Compensation Discussion and Analysis Relative EPS Growth (25%)

| Rank             |     | Metric        
 Achievement   
 (% of Metric) |     |