Company: TFC
Filing Date: 2025-03-17
Form Type: DEF 14A
Source: 0001193125-25-055156
Chunk: 78

Company: TRUIST FINANCIAL CORP
Filing Date: 2025-03-17
Form: DEF 14A
Chunk 78
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 | — |
|                        |     | NQ (ERISA Excess) |     |                     |     |  6 |     |                     |     |    50,247 |     |                  |     | — |
| Dontá L. Wilson        |     | Q                 |     |                     |     | 26 |     |                     |     |   827,923 |     |                  |     | — |
|                        |     | NQ                |     |                     |     | 26 |     |                     |     | 3,679,353 |     |                  |     | — |

| (1) |     | The 2024 Pension Benefits table shows the estimated present value of accumulated benefits payable to each of the NEOs, including the number of years of service credited to each NEO, determined using the measurement date, interest rate, and mortality rate assumptions consistent with those used in Truist’s financial statements. For these purposes, the credited years of service and present value of accumulated benefits were measured as of December 31, 2024. |

| (2) |     | Q = Pension Plan. |

| NQ = Non-Qualified Defined Benefit Plan. |

| NQ (ERISA Excess) = SunTrust ERISA Excess Plan. The purpose of this plan was to provide benefits that would have been provided under the SunTrust Banks, Inc. Retirement Plan if the Internal Revenue Code did not place annual limits on compensation and benefits. |

| NQ (SERP) = SunTrust Banks, Inc. Tier 2 SERP. This plan was designed to provide a targeted level of post-retirement income to a highly select group of key executives who had a significant impact on SunTrust’s long-term growth and profitability. |

| (3) |     | Each plan limits the years of credited service to a maximum of 35 years. |

Narrative to 2024 Pension Benefits Table We maintain the Pension Plan and the Non-QualifiedDefined Benefit Plan. For a discussion of the valuation methods and material assumptions applied in quantifying the present value of the current accrued benefit under each of these plans, as set forth in the table above, please refer to Note 15 “Benefit Plans” in the “Notes to Consolidated Financial Statements” included with the Annual Report on Form 10-Kfor the year ended December 31, 2024, and filed with the SEC on February 25, 2025. A discussion of each of these