Company: TFC
Filing Date: 2025-03-17
Form Type: DEF 14A
Source: 0001193125-25-055156
Chunk: 46

Company: TRUIST FINANCIAL CORP
Filing Date: 2025-03-17
Form: DEF 14A
Chunk 46
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 strategic transition in 2024, we sustained business and operational momentum and delivered strong financial results for shareholders. The following charts show the key financial measures that reflect execution against our corporate strategy as discussed in the “2024 Key Financial Measures and Strategic Priorities” beginning on page 47.

* Adjusted diluted earnings per share, adjusted net income available to common shareholders, PPNR, and adjusted noninterest expense are non-GAAPfinancial measures. Please see Annex A for a reconciliation from GAAP or unadjusted amounts to these adjusted amounts. ** EPS for purposes of our incentive compensation plans differs from adjusted diluted earnings per share as disclosed in our earnings materials, which is shown above.

| 40 |     | | 2025 Proxy Statement |

Compensation Discussion and Analysis In addition to these specific financial measures, we continued to live our purpose to inspire and build better lives and communities in 2024 while creating long-term value for shareholders consistent with prudent risk management. Our purposeful activities included:

| • | Through the sale of our remaining interest in TIH, we created a relative capital advantage—adding 230 basis points of CET1 capital and increasing TBVPS* by 33%—while creating financial flexibility for Truist to drive growth in its core wholesale- and consumer-banking businesses. |

| • | We executed a strategic balance-sheet repositioning, including the reinvestment of $39.4 billion designed to replace TIH’s earnings, while improving the interest-rate-risk position of the firm. |

| • | The Board authorized the repurchase of up to $5 billion of shares of common stock through the end of 2026, and during 2024, we returned $3.8 billion of capital to shareholders through $2.8 billion in common stock dividends and $1.0 billion in share repurchases. This return of capital amounted to 76% of adjusted net income* for 2024. |

| • | We fulfilled our commitment to limit expense growth while investing in talent, technology, and risk infrastructure. |

| • | We exhibited discipline in managing credit risk and delivered strong results from the loan portfolio. |

| • | We increased wholesale fee income, notably increasing investment banking and trading income by 46%, and enhanced the wholesale digital experience, including enhancements to Truist One View and the unveiling of electronic bill presentment. |

| • | Consumer and Small Business Banking grew net new checking accounts by 103,700, received the largest increase in consumer customer satisfaction among national and super