Company: TFC
Filing Date: 2025-03-17
Form Type: DEF 14A
Source: 0001193125-25-055156
Chunk: 44

Company: TRUIST FINANCIAL CORP
Filing Date: 2025-03-17
Form: DEF 14A
Chunk 44
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 TIH’s earnings. With an implied enterprise valuation of $15.5 billion, this divestiture strengthened Truist’s balance sheet by adding 230 basis points of Common Equity Tier 1 (“CET1”) capital and increased tangible book value per share (“TBVPS”)* by 33%. The transaction and related balance sheet repositioning also created financial flexibility for Truist to decisively pivot to offense in its core wholesale- and consumer-banking businesses. In addition, on June 28, 2024, we announced that the Board had authorized the repurchase of up to $5 billion of shares of our common stock through the end of 2026 with repurchases expected to begin during the third quarter. After the successful completion of these strategic initiatives, the Committee focused on leadership continuity and granted one-timeleadership awards to Messrs. Maguire and Wilson to drive future performance and to support continuity. The awards were structured as Performance Share Units (“PSUs”) that would be earned based on minimum capital requirements and relative TSR performance, each measured over a three-year performance period. Our Chairman and CEO did not receive such an award. See “One-TimePerformance-Based Leadership Awards” beginning on page 55. Heading into the end of the year, senior management and the Board continued their work to further crystallize the strategic aim of our more streamlined and strengthened Truist. Our strategic ambition is to build the top super-regional bank that grows with our clients through care. Our Strategic Priorities consist of the following.

| • | Leveraging our capital position by growing and capturing additional share within our high growth markets and existing client base in key focus areas in Wholesale Banking and Consumer and Small Business Banking and in areas, markets, and client solutions where we have invested significantly and have momentum |

| • | In Wholesale Banking, deepening and growing existing client relationships in areas like payments and wealth, enhancing the client digital experience, continuing our momentum in investment banking and trading, and capturing more share of the commercial middle market |

| • | In Consumer and Small Business Banking, growing core deposits, deepening existing relationships with premier clients, enhancing the client digital experience, and driving additional fee and loan growth through our differentiated consumer lending solutions |

| • | Continuing to invest in important areas, including new and existing talent, technology, risk, and cybersecurity, while maintaining our expense discipline with a goal of driving positive operating leverage |

| • | Maintaining our credit and risk discipline |

| • | Returning capital to shareholders through our common stock