# EDGAR Filing Document

**Accession Number:** 0000092230
**File Stem:** 0000092230-23-000002
**Filing Date:** 2023-1
**Character Count:** 278652
**Document Hash:** 655a3ff1ad85211ef6d89176355dc801
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000092230-23-000002.hdr.sgml**: 20230119

**ACCESSION NUMBER**: 0000092230-23-000002

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 56

**CONFORMED PERIOD OF REPORT**: 20230119

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230119

**DATE AS OF CHANGE**: 20230119

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** TRUIST FINANCIAL CORP
- **CENTRAL INDEX KEY:** 0000092230
- **STANDARD INDUSTRIAL CLASSIFICATION:** NATIONAL COMMERCIAL BANKS [6021]
- **IRS NUMBER:** 560939887
- **STATE OF INCORPORATION:** NC
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-10853
- **FILM NUMBER:** 23535861

**BUSINESS ADDRESS:**
- **STREET 1:** 214 NORTH TRYON STREET
- **CITY:** CHARLOTTE
- **STATE:** NC
- **ZIP:** 28202
- **BUSINESS PHONE:** 3367332000

**MAIL ADDRESS:**
- **STREET 1:** 214 NORTH TRYON STREET
- **CITY:** CHARLOTTE
- **STATE:** NC
- **ZIP:** 28202

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** BB&T CORP
- **DATE OF NAME CHANGE:** 19970527

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SOUTHERN NATIONAL CORP /NC/
- **DATE OF NAME CHANGE:** 19920703

?xml version="1.0" ? tfc-20230119

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**_____________________________________________**

**Form 8-K**

**Current Report**

**_____________________________________________**

**Pursuant to Section 13 or 15(d)**

**of the Securities Exchange Act of 1934**

**January 19, 2023**

Date of Report (Date of earliest event reported)

**Truist Financial Corporation**

(Exact name of registrant as specified in its charter)

**_____________________________________________**

---

| | | |
|:---|:---|:---|
| **North Carolina** | **1-10853** | **56-0939887** |
| &nbsp;&nbsp;(State or other jurisdiction of incorporation) | &nbsp;&nbsp;(Commission File Number) | &nbsp;&nbsp;(I.R.S. Employer Identification No.) |

---

---

| | | |
|:---|:---|:---|
| **214 North Tryon Street** | **214 North Tryon Street** | |
| &nbsp;&nbsp;**Charlotte,** | **North Carolina** | **28202** |
| &nbsp;&nbsp;(Address of principal executive offices) | &nbsp;&nbsp;(Address of principal executive offices) | &nbsp;&nbsp;(Zip Code) |

---

**(336) 733-2000**

(Registrant's telephone number, including area code)

**_____________________________________________**

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| **Title of each class** | **Trading Symbol** | **Name of each exchange on which registered** |
| Common Stock, $5 par value | TFC | New York Stock Exchange |
| Depositary Shares each representing 1/4,000th interest in a share of Series I Perpetual Preferred Stock | TFC.PI | New York Stock Exchange |
| 5.853% Fixed-to-Floating Rate Normal Preferred Purchase Securities each representing 1/100th interest in a share of Series J Perpetual Preferred Stock | TFC.PJ | New York Stock Exchange |
| Depositary Shares each representing 1/1,000th interest in a share of Series O Non-Cumulative Perpetual Preferred Stock | TFC.PO | New York Stock Exchange |
| Depositary Shares each representing 1/1,000th interest in a share of Series R Non-Cumulative Perpetual Preferred Stock | TFC.PR | New York Stock Exchange |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ◻

------

**ITEM 2.02&nbsp;&nbsp;&nbsp;&nbsp;Results of Operations and Financial Condition.**

On January 19, 2023, Truist Financial Corporation ("Truist") issued a press release reporting fourth quarter 2022 results and posted on its website its fourth quarter 2022 Earnings Release, Quarterly Performance Summary, and Earnings Release Presentation. The materials contain forward-looking statements regarding Truist and include cautionary language identifying important factors that could cause actual results to differ materially from those anticipated. The Earnings Release, Quarterly Performance Summary, and Earnings Release Presentation are furnished as Exhibits 99.1, 99.2, and 99.3, respectively. Consequently, they are not deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that section. Such materials may only be incorporated by reference into another filing under the Exchange Act or Securities Act of 1933 if such subsequent filing specifically references this Form 8-K. All information in the Earnings Release, Quarterly Performance Summary, and Earnings Release Presentation speaks as of the date thereof, and Truist does not assume any obligation to update such information in the future.

**ITEM 9.01&nbsp;&nbsp;&nbsp;&nbsp;Financial Statements and Exhibits.**

**(d)&nbsp;&nbsp;&nbsp;&nbsp;Exhibits**

---

| | |
|:---|:---|
| **Exhibit No.** | **Description of Exhibit** |
| <u>[99.1](ex991-pr4q22.htm)</u> | Earnings Release issued January 19, 2023. |
| <u>[99.2](ex992-qps4q22.htm)</u> | Quarterly Performance Summary issued January 19, 2023. |
| <u>[99.3](ex993-earningsdeck4q22.htm)</u> | Earnings Release Presentation issued January 19, 2023. |
| 104 | The cover page from this Current Report on Form 8-K, formatted in Inline XBRL. |

---

------

**SIGNATURE**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | |
|:---|:---|
| TRUIST FINANCIAL CORPORATION | TRUIST FINANCIAL CORPORATION |
|  | (Registrant) |
| By: | /s/ Cynthia B. Powell |
|  | &nbsp;&nbsp;Cynthia B. Powell |
|  | &nbsp;&nbsp;Executive Vice President and Corporate Controller |
|  | &nbsp;&nbsp;(Principal Accounting Officer) |

---

Date: January 19, 2023

## Exhibit 99.1

`

---

| | | |
|:---|:---|:---|
| ![logo-boxed.jpg](logo-boxed.jpg) | ![logo-boxed.jpg](logo-boxed.jpg) | **News Release** |
| **Contact:** | | |
| Investors: | Ankur Vyas<br>404.827.6714 \| investors@truist.com | |
| Media: | Shelley Miller<br>704.692.1518 \| media@truist.com | |

---

**Truist reports fourth quarter and full year 2022 results**

*Fourth quarter 2022 GAAP earnings of $1.6 billion, or $1.20 per diluted share*

*Fourth quarter 2022 Adjusted earnings of $1.7 billion, or $1.30 per diluted share*

*Results reflect strong PPNR performance as a result of strong loan growth and expanded NIM*

*Capital, liquidity, and credit quality remain strengths*

**CHARLOTTE, N.C., (January 19, 2023)** — Truist Financial Corporation (NYSE: TFC) today reported earnings for the fourth quarter and full year of 2022.

Net income available to common shareholders of $1.6 billion was up 5.6% from the fourth quarter of 2021. Earnings per diluted common share were $1.20, an increase of 6.2% compared with the same period last year. Results for the fourth quarter produced an annualized return on average assets (ROA) of 1.21%, an annualized return on average common shareholders' equity (ROCE) of 11.7%, and an annualized return on tangible common shareholders' equity (ROTCE) of 27.6%.

Adjusted net income available to common shareholders was $1.7 billion, or $1.30 per diluted share, excluding merger-related and restructuring charges of $114 million ($87 million after-tax) and incremental operating expenses related to the merger of $56 million ($43 million after-tax). Adjusted results produced an annualized ROA of 1.30%, an annualized ROCE of 12.6%, and an annualized ROTCE of 29.6%.

For the full year 2022, net income available to common shareholders was $5.9 billion compared to $6.0 billion for 2021. Earnings per diluted share were $4.43 for 2022 compared to $4.47 for 2021. Results for 2022 produced an ROA of 1.15%, an ROCE of 10.4%, and an ROTCE of 22.9%.

Adjusted net income available to common shareholders for the full year 2022, which excludes merger-related charges, incremental operating expenses related to the merger, and certain other items as detailed in our non-GAAP reconciliations was $6.6 billion compared to $7.5 billion for 2021. Adjusted diluted earnings per share was $4.96, down 10.3%, compared to $5.53 for 2021. Adjusted results for 2022 produced an ROA of 1.28%, an ROCE of 11.6%, and an ROTCE of 25.1%.

"Fourth quarter results were strong, reflecting post-integration momentum and progress in many areas. Robust loan growth, significant margin expansion, and good cost discipline contributed to a 12% sequential increase in adjusted pre-provision net revenue. Credit quality remains strong reflecting our conservative credit culture and diverse business mix. We also delivered on our commitment to achieve positive operating leverage for the full-year 2022," said Chairman and CEO Bill Rogers.

------

"We fulfilled our purpose to inspire and build better lives and communities in many ways throughout the year. We showed care for our teammates with a bold increase in our minimum wage; created new ways to meet clients' needs through initiatives like Truist One Banking and enhanced digital offerings like Truist Assist, Truist Invest Pro, and Truist Trade; and supported our communities, including introducing a $120 million commitment to small businesses. In addition, we exceeded our $60 billion Community Benefits Plan commitment that we established at the time of the merger.

"Last year was a strategic turning point for Truist as we began to shift our focus to executional excellence and purposeful growth. I look forward to further realizing our potential in 2023 as we fully leverage our increased capacity, expanded capabilities and talented teammates to actualize our purpose."

**Fourth Quarter 2022 Performance Highlights**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Earnings per diluted common share for the fourth quarter of 2022 were $1.20

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ Adjusted diluted earnings per share were $1.30, up 4.8%, compared to third quarter 2022 and down 5.8%, compared to fourth quarter 2021

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ ROA was 1.21%; adjusted ROA was 1.30%

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ ROCE was 11.7%; adjusted ROCE was 12.6%

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ ROTCE was 27.6%; adjusted ROTCE was 29.6%

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*•* Pre-provision net revenue (PPNR) for the fourth quarter of 2022 was $2.5 billion, up 12% compared to third quarter 2022 and 34% compared to fourth quarter 2021

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ Adjusted PPNR was up 12% compared to third quarter 2022 and 17% compared to fourth quarter 2021

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ GAAP operating leverage was 10.9% compared to fourth quarter 2021

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ Adjusted operating leverage was 3.7% compared to fourth quarter 2021

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Taxable-equivalent revenue for the fourth quarter of 2022 was $6.3 billion, up 6.3% compared to third quarter 2022 and up 12% compared to fourth quarter 2021

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ Taxable-equivalent net interest income was up 6.6% compared to third quarter 2022 and up 23% compared to fourth quarter 2021

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ The increase compared to third quarter 2022 was primarily due to higher market interest rates coupled with strong loan growth and well controlled deposit costs

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ The increase compared to fourth quarter 2021 was primarily due to strong loan growth and higher market interest rates coupled with well controlled deposit costs, partially offset by lower purchase accounting accretion and lower PPP revenue

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ Noninterest income was up 5.9% compared to third quarter 2022 and down 4.1% compared to fourth quarter 2021

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ The increase compared to third quarter 2022 was primarily due to seasonally higher insurance revenues and higher investment banking revenues

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ The decrease compared to fourth quarter 2021 was primarily due to lower investment banking and mortgage banking income, partially offset by strong growth in insurance revenues

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ Net interest margin was 3.25%, up 13 basis points from third quarter 2022 and up 49 basis points from fourth quarter 2021

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ Core net interest margin was 3.17%, up 15 basis points from third quarter 2022, and 62 basis points from fourth quarter 2021, driven by higher market interest rates coupled with well controlled deposit costs

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Noninterest expense for the fourth quarter of 2022 was $3.7 billion, up 3.0% compared to third quarter 2022 and up 0.6% compared to fourth quarter 2021

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ Adjusted noninterest expense was $3.4 billion, up $68 million, or 2.0%, compared to third quarter 2022 due to higher personnel expenses, partially offset by lower marketing costs and lower operational losses

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ Adjusted noninterest expenses increased $258 million, or 8.2%, compared to fourth quarter 2021 primarily due to higher personnel expenses and professional fees

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ GAAP efficiency ratio was 60.0%, compared to 61.8% for third quarter 2022

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ Adjusted efficiency ratio was 54.2%, compared to 56.4% for third quarter 2022

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Average loans and leases held for investment for the fourth quarter of 2022 were $320.7 billion, up $11.3 billion, or 3.6%, compared to third quarter 2022

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ Average commercial loans were up $7.9 billion, or 4.4%, due to broad based growth within the commercial and industrial portfolio and as a result of the BankDirect Capital Finance ("BankDirect") acquisition on November 1, 2022

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ Average consumer loans were up $3.3 billion, or 2.7%, primarily due to growth in residential mortgage loans

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*•* Asset quality remains strong, reflecting Truist's prudent risk culture and diverse portfolio

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ Net charge-offs were 0.34% of average loans and leases, up seven basis points compared to third quarter 2022 primarily due to seasonality

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ The ALLL ratio was 1.34%, unchanged compared to third quarter 2022

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;▪ The ALLL coverage ratio was 4.05X annualized net charge-offs, versus 4.98X for the third quarter 2022

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ Provision for credit losses was $467 million for the fourth quarter of 2022 compared to $234 million for third quarter 2022 and a benefit of $103 million for fourth quarter 2021

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Capital and liquidity levels remained strong; deployed capital through organic loan growth, dividends, and acquisition

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ Common equity tier 1 to risk-weighted assets was 9.0%

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ Acquired BankDirect, a leading insurance premium finance lender, on November 1, 2022

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ Consolidated average LCR ratio was 112%

**Full Year 2022 Performance Highlights**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Earnings per diluted common share were $4.43 compared to $4.47 for 2021; Adjusted earnings per diluted common share were $4.96 compared to $5.53 for 2021

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ Decline in earnings reflects reserve releases in 2021 partially offset by PPNR growth in 2022

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• PPNR for 2022 was $8.6 billion, up 18% compared to 2021

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ Adjusted PPNR of $10.1 billion was up 4.4% compared to 2021

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ GAAP operating leverage was 6.8% compared to 2021

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ Adjusted operating leverage was 0.6% compared to 2021

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Taxable-equivalent revenue for 2022 was $23.2 billion, up 3.5% compared to 2021

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ Net interest income was up $1.3 billion, or 10%, primarily due to higher market interest rates coupled with strong loan growth and well controlled deposit costs, partially offset by lower purchase accounting accretion and lower PPP fees

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ Noninterest income was down $571 million, or 6.1%, driven by lower investment banking and mortgage banking income, partially offset by growth in insurance revenues

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Noninterest expense was down $527 million, or 3.5% due to declines in merger-related costs

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ Adjusted noninterest expense was up $380 million, or 3.0%, compared to 2021; driven by higher professional fees, operational losses, expenses related to acquired companies and marketing expenses, partially offset by lower occupancy and equipment expenses

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ GAAP efficiency ratio was 63.3%, compared to 67.8% for 2021

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ Adjusted efficiency ratio was 56.4%, compared to 56.7% for 2021

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Provision for credit losses was up $1.6 billion; the current year reflects strong loan growth and a moderate decline in the ALLL ratio, whereas the prior year included reserve releases due to the rapidly improving economic environment during that period

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **EARNINGS HIGHLIGHTS** |  |  |  | Change 4Q22 vs. | Change 4Q22 vs. |
| (dollars in millions, except per share data) | 4Q22 | 3Q22 | 4Q21 | 3Q22 | 4Q21 |
| Net income available to common shareholders | $1610 | $1536 | $1524 | $74 | $86 |
| Diluted earnings per common share | 1.20 | 1.15 | 1.13 | 0.05 | 0.07 |
| Net interest income - taxable equivalent | $4031 | $3783 | $3267 | $248 | $764 |
| Noninterest income | 2227 | 2102 | 2323 | 125 | (96) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total taxable-equivalent revenue | $6258 | $5885 | $5590 | $373 | $668 |
| Less taxable-equivalent adjustment | 50 | 38 | 24 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total revenue | $6208 | $5847 | $5566 |  |  |
| Return on average assets | 1.21% | 1.19% | 1.19% | 0.02% | 0.02% |
| Return on average risk-weighted assets (current quarter is preliminary) | 1.56 | 1.56 | 1.64 |  | (0.08) |
| Return on average common shareholders' equity | 11.7 | 10.7 | 9.8 | 1.0 | 1.9 |
| Return on average tangible common shareholders' equity (1) | 27.6 | 23.5 | 18.9 | 4.1 | 8.7 |
| Net interest margin - taxable equivalent | 3.25 | 3.12 | 2.76 | 0.13 | 0.49 |

---

(1)Excludes certain items as detailed in the non-GAAP reconciliations in the Quarterly Performance Summary.

***Fourth Quarter 2022 compared to Third Quarter 2022***

Total taxable-equivalent revenue was $6.3 billion for the fourth quarter of 2022, an increase of $373 million, or 6.3%, compared to the prior quarter.

Taxable-equivalent net interest income for the fourth quarter of 2022 was up $248 million, or 6.6%, compared to the prior quarter due primarily to higher market interest rates coupled with strong loan growth and well controlled deposits costs. Average earning assets increased $10.5 billion, or 2.2%, primarily due to growth in average total loans of $10.9 billion, or 3.5%. Average deposits decreased $6.8 billion, or 1.6%, while average short-term borrowings increased $8.2 billion, or 47%, and average long-term debt increased $7.3 billion, or 23%.

The net interest margin was 3.25% for the fourth quarter, up 13 basis points compared to the prior quarter. The yield on the total loan portfolio for the fourth quarter was 5.26%, up 77 basis points compared to the prior quarter primarily due to higher market interest rates. The yield on the average securities portfolio for the fourth quarter was 2.08%, up 13 basis points compared to the prior quarter primarily due to the higher rate environment. Core net interest margin was 3.17% for the fourth quarter, up 15 basis points compared to the prior quarter driven primarily by higher market interest rates coupled with well controlled deposit costs.

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The average cost of total deposits was 0.66%, up 35 basis points compared to the prior quarter. The average cost of short-term borrowings was 3.75%, up 141 basis points compared to the prior quarter. The average cost of long-term debt was 3.42%, up 99 basis points compared to the prior quarter. The increase in rates on deposits and other funding sources was largely attributable to the higher rate environment.

The provision for credit losses was $467 million for the fourth quarter, compared to $234 million for the prior quarter. The increase in the current quarter provision expense primarily reflects a moderately slower economic outlook. Net charge-offs for the fourth quarter of 2022 totaled $273 million compared to $213 million for the prior quarter. The net charge-off ratio for the current quarter of 0.34% was up seven basis points compared to third quarter 2022, primarily driven by seasonality within the consumer portfolio and lower recoveries in the commercial and industrial portfolio.

Noninterest income was $2.2 billion, an increase of $125 million, or 5.9%, compared to the prior quarter. Insurance income increased $41 million, or 5.7%, primarily due to seasonality and the BenefitMall acquisition. Investment banking and trading income increased $35 million, or 16%, primarily due to higher structured real estate fees, partially offset by lower trading income. Other income increased $33 million due to valuation changes from assets held for certain post-retirement benefits, which is almost entirely offset by higher personnel expense. Lending related fees increased $30 million, or 38%, primarily due to higher leasing-related gains and higher unused commitment fees.

Noninterest expense was $3.7 billion for the fourth quarter, up $109 million, or 3.0%, compared to the prior quarter. Merger-related and restructuring charges increased $52 million compared to third quarter 2022 due to higher restructuring charges related to the planned rationalization of corporate real estate and the branch network. In addition, incremental operating expenses related to the merger decreased $34 million compared to third quarter 2022, given diminishing integration-related activities. Excluding the aforementioned items and amortization expense, adjusted noninterest expense increased $68 million, or 2.0%, compared to the prior quarter. Personnel expense increased $82 million compared to third quarter 2022 due to higher other post-retirement benefit expense, which is almost entirely offset by higher other income, and an increase in minimum wages for teammates. Marketing and customer development expenses decreased $35 million, or 33%, due to reduced marketing compared to the earlier quarter. Other expense decreased $28 million primarily due to lower operational losses.

The provision for income taxes was $337 million for the fourth quarter of 2022, compared to $363 million for the prior quarter. The effective tax rate for the fourth quarter of 2022 was 16.7%, compared to 18.2% for the prior quarter. The decrease in the effective tax rate was primarily driven by discrete tax benefits recognized in the current quarter.

***Fourth Quarter 2022 compared to Fourth Quarter 2021***

Total taxable-equivalent revenues were $6.3 billion for the fourth quarter of 2022, an increase of $668 million, or 12%, compared to the earlier quarter.

Taxable equivalent net interest income for the fourth quarter of 2022 was up $764 million, or 23%, compared to the earlier quarter primarily due to strong loan growth and higher market interest rates coupled with well controlled deposit costs. These increases were partially offset by lower purchase accounting accretion and lower PPP revenue. Average earning assets increased $21.9 billion, or 4.7%, compared to the earlier quarter primarily due to growth in average total loans of $31.7 billion, or 10.9%, partially offset by a decrease in average securities of $11.0 billion, or 7.2%. Average deposits increased $2.3 billion, or 0.6%, average short-term borrowings increased $19.2 billion, and average long-term debt increased $1.1 billion, or 2.9%, compared to the earlier quarter.

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Net interest margin was 3.25%, up 49 basis points compared to the earlier quarter. The yield on the total loan portfolio for the fourth quarter of 2022 was 5.26%, up 147 basis points compared to the earlier quarter, primarily reflecting higher market interest rates, partially offset by lower purchase accounting accretion and lower PPP revenue. The yield on the average securities portfolio was 2.08%, up 51 basis points compared to the earlier quarter primarily due to the higher rate environment. Core net interest margin was 3.17% for the fourth quarter, up 62 basis points compared to the earlier quarter driven by higher market interest rates coupled with well controlled deposit costs.

The average cost of total deposits was 0.66%, up 63 basis points compared to the earlier quarter. The average cost of short-term borrowings was 3.75%, up 320 basis points compared to the earlier quarter. The average cost of long-term debt was 3.42%, up 207 basis points compared to the earlier quarter. The increase in rates on deposits and other funding sources was largely attributable to the higher rate environment.

The provision for credit losses was $467 million, compared to a benefit of $103 million for the earlier quarter. The increase in the current quarter provision expense primarily reflects a moderately slower economic outlook, whereas the earlier quarter included a reserve release due to the improving credit environment during that period. Net charge-offs for the fourth quarter of 2022 totaled $273 million compared to $182 million in the earlier quarter. The net charge-off ratio for the current quarter of 0.34% was up nine basis points compared to the earlier quarter primarily driven by normalizing trends across certain consumer portfolios.

Noninterest income for the fourth quarter of 2022 decreased $96 million, or 4.1%, compared to the earlier quarter. Investment banking and trading income decreased $120 million, or 32%, due to lower capital markets activity and lower merger and acquisition fees, partially offset by higher structured real estate fees. Mortgage banking income decreased $87 million, or 43%, as lower production income (due to lower refinance activity) was partially offset by higher residential servicing income (due to lower prepayments and fees earned on servicing portfolio purchases). Wealth management income decreased $26 million, or 7.4%, primarily due to lower market valuations. These decreases were partially offset by an increase of $100 million, or 15%, in insurance income due to organic growth and acquisitions. Lending related fees increased $29 million, or 36%, primarily due to higher leasing-related gains and higher unused commitment fees.

Noninterest expense for the fourth quarter of 2022 was up $22 million, or 0.6%, compared to the earlier quarter. Merger-related and restructuring charges and incremental operating expenses related to the merger decreased $98 million and $159 million, respectively, due to diminishing integration-related activities. Excluding the aforementioned items and the amortization of intangibles, adjusted noninterest expense increased $258 million, or 8.2%, compared to the earlier quarter. Personnel expense increased $102 million ($161 million, or 7.9%, on an adjusted basis) due to annual merit and minimum wage increases, the impact from acquisitions, investments in revenue producing businesses and enterprise technology, and higher medical claims, partially offset by lower incentives. Professional fees and outside processing expenses decreased $32 million, but was up $61 million, or 26%, on an adjusted basis due to increased project spend for enterprise technology investments and increased call center staffing. Other expense increased $20 million primarily due to higher teammate travel and entertainment expenses.

The provision for income taxes was $337 million for the fourth quarter of 2022, compared to $367 million for the earlier quarter. The effective tax rate for the fourth quarter of 2022 was 16.7%, compared to 18.6% for the earlier quarter. The decrease in the effective tax rate was primarily driven by the impact of actual versus forecasted rate and an increase in discrete tax benefits.

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| | | | | |
|:---|:---|:---|:---|:---|
| **LOANS AND LEASES** | | | | |
| (dollars in millions)<br>Average balances | 4Q22 | 3Q22 | Change | % Change |
| Commercial: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial and industrial | $159308 | $152123 | $7185 | 4.7% |
| &nbsp;&nbsp;&nbsp;&nbsp;CRE | 22497 | 22245 | 252 | 1.1 |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial construction | 5711 | 5284 | 427 | 8.1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total commercial | 187516 | 179652 | 7864 | 4.4 |
| Consumer: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Residential mortgage | 56292 | 53271 | 3021 | 5.7 |
| &nbsp;&nbsp;&nbsp;&nbsp;Residential home equity and direct | 25518 | 25394 | 124 | 0.5 |
| &nbsp;&nbsp;&nbsp;&nbsp;Indirect auto | 28117 | 28057 | 60 | 0.2 |
| &nbsp;&nbsp;&nbsp;&nbsp;Indirect other | 12848 | 12300 | 548 | 4.5 |
| &nbsp;&nbsp;&nbsp;&nbsp;Student | 5533 | 5958 | (425) | (7.1) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total consumer | 128308 | 124980 | 3328 | 2.7 |
| Credit card | 4842 | 4755 | 87 | 1.8 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total loans and leases held for investment | $320666 | $309387 | $11279 | 3.6 |

---

Average loans and leases held for investment for the fourth quarter of 2022 were $320.7 billion, up $11.3 billion, or 3.6%, compared to the third quarter of 2022. The company added $3.1 billion of loans in conjunction with the acquisition of BankDirect on November 1, 2022, which contributed $2.1 billion of average loan growth for the fourth quarter of 2022. Excluding the acquisition, average loans and leases held for investment increased $9.2 billion, or 3.0% compared to the third quarter of 2022.

Average commercial loans increased $7.9 billion, or 4.4%, due to broad-based growth within the commercial and industrial portfolio and the BankDirect acquisition.

Average consumer loans increased $3.3 billion, or 2.7%, due to a $3.0 billion increase in residential mortgages due to correspondent channel production and lower prepayments. In addition, indirect other increased $548 million primarily due to growth from the Service Finance, recreational lending, and Sheffield portfolios, partially offset by runoff in other partnership lending programs. These increases were partially offset by $425 million runoff in student loans.

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| | | | | |
|:---|:---|:---|:---|:---|
| **DEPOSITS** | | | | |
| (dollars in millions)<br>Average balances | 4Q22 | 3Q22 | Change | % Change |
| Noninterest-bearing deposits | $141032 | $146041 | $(5009) | (3.4)% |
| Interest checking | 110001 | 111645 | (1644) | (1.5) |
| Money market and savings | 144730 | 147659 | (2929) | (2.0) |
| Time deposits | 17513 | 14751 | 2762 | 18.7 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total deposits | $413276 | $420096 | $(6820) | (1.6) |

---

Average deposits for the fourth quarter of 2022 were $413.3 billion, a decrease of $6.8 billion, or 1.6%, compared to the prior quarter. The decrease in deposits was primarily driven by the impacts of monetary tightening, inflation, and higher interest rate alternatives. Average noninterest-bearing deposits decreased 3.4% compared to the prior quarter and represented 34.1% of total deposits for the fourth quarter of 2022. Average money market and savings and interest checking declined 2.0% and 1.5%, respectively, compared to the prior quarter. Average time deposits increased 19% primarily due to an increase in wholesale time deposit products.

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **CAPITAL RATIOS** | 4Q22 | 3Q22 | 2Q22 | 1Q22 | 4Q21 |
| Risk-based: | (preliminary) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Common equity Tier 1 | 9.0% | 9.1% | 9.2% | 9.4% | 9.6% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tier 1 | 10.5 | 10.7 | 10.8 | 11.0 | 11.3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | 12.5 | 12.6 | 12.6 | 13.0 | 13.2 |
| Leverage | 8.5 | 8.5 | 8.6 | 8.6 | 8.7 |
| Supplementary leverage | 7.3 | 7.3 | 7.3 | 7.3 | 7.4 |

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Capital ratios remained strong compared to the regulatory requirements for well capitalized banks. Truist declared common dividends of $0.52 per share during the fourth quarter of 2022. The dividend payout ratio for the fourth quarter of 2022 was 43%. Truist did not repurchase any shares in the fourth quarter of 2022.

Truist CET1 ratio was 9.0% as of December 31, 2022. The decline compared to the September 30, 2022 CET1 ratio primarily reflects strong loan growth and the BankDirect acquisition.

Truist's average LCR was 112% for the three months ended December 31, 2022, compared to the regulatory minimum of 100%. Truist continues to maintain a strong liquidity position and is well prepared to meet the funding needs of its clients.

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **ASSET QUALITY** | | | | | |
| (dollars in millions) | 4Q22 | 3Q22 | 2Q22 | 1Q22 | 4Q21 |
| Total nonperforming assets | $1250 | $1240 | $1173 | $1135 | $1163 |
| Total performing TDRs | 1986 | 1873 | 1693 | 1515 | 1390 |
| Total loans 90 days past due and still accruing | 1605 | 1709 | 1787 | 1914 | 1930 |
| Total loans 30-89 days past due | 2267 | 1957 | 2091 | 2101 | 2044 |
| Nonperforming loans and leases as a percentage of loans and leases held for investment | 0.36% | 0.35% | 0.36% | 0.36% | 0.38% |
| Loans 30-89 days past due and still accruing as a percentage of loans and leases | 0.70 | 0.62 | 0.69 | 0.72 | 0.71 |
| Loans 90 days or more past due and still accruing as a percentage of loans and leases | 0.49 | 0.54 | 0.59 | 0.66 | 0.67 |
| Loans 90 days or more past due and still accruing as a percentage of loans and leases, excluding PPP and other government guaranteed | 0.04 | 0.04 | 0.04 | 0.04 | 0.03 |
| Allowance for loan and lease losses as a percentage of loans and leases held for investment | 1.34 | 1.34 | 1.38 | 1.44 | 1.53 |
| Net charge-offs as a percentage of average loans and leases, annualized | 0.34 | 0.27 | 0.22 | 0.25 | 0.25 |
| Ratio of allowance for loan and lease losses to net charge-offs, annualized | 4.05x | 4.98x | 6.54x | 5.78x | 6.14x |
| Ratio of allowance for loan and lease losses to nonperforming loans and leases held for investment | 3.68x | 3.80x | 3.84x | 3.99x | 4.07x |

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Nonperforming assets totaled $1.3 billion at December 31, 2022, relatively flat compared to September 30, 2022. Nonperforming loans and leases held for investment were 0.36% of loans and leases held for investment at December 31, 2022, relatively stable compared to September 30, 2022.

Performing TDRs were up $113 million compared to the prior quarter primarily due to increases in the government guaranteed residential mortgage and the indirect auto portfolios.

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Loans 90 days or more past due and still accruing totaled $1.6 billion at December 31, 2022, down $104 million, or five basis points as a percentage of loans and leases, compared with the prior quarter primarily due to declines in government guaranteed student loans and government guaranteed residential mortgages. Excluding government guaranteed loans, the ratio of loans 90 days or more past due and still accruing as a percentage of loans and leases was 0.04% at December 31, 2022, flat from September 30, 2022.

Loans 30-89 days past due and still accruing of $2.3 billion at December 31, 2022 were up $310 million, or eight basis points as a percentage of loans and leases, compared to the prior quarter primarily due to a seasonal increase in the consumer portfolios.

Net charge-offs during the fourth quarter totaled $273 million, or 0.34% as a percentage of average loans, and were up seven basis points compared to the prior quarter, primarily driven by seasonality within the consumer portfolio and lower recoveries in the commercial and industrial portfolio.

The allowance for credit losses was $4.6 billion and includes $4.4 billion for the allowance for loan and lease losses and $272 million for the reserve for unfunded commitments. The ALLL ratio was 1.34%, unchanged compared September 30, 2022 as an increase for a moderately slower economic outlook was offset by growth in high-quality loans, including organic growth and the acquisition of the BankDirect portfolio. The ALLL covered nonperforming loans and leases held for investment 3.68X compared to 3.80X at September 30, 2022. At December 31, 2022, the ALLL was 4.05X annualized net charge-offs, compared to 4.98X at September 30, 2022.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **SEGMENT RESULTS** |  |  |  | Change 4Q22 vs. | Change 4Q22 vs. |
| (dollars in millions) |  |  |  | Change 4Q22 vs. | Change 4Q22 vs. |
| Segment Net Income | 4Q22 | 3Q22 | 4Q21 | 3Q22 | 4Q21 |
| Consumer Banking and Wealth | $1194 | $976 | $972 | $218 | $222 |
| Corporate and Commercial Banking | 1217 | 1180 | 1198 | 37 | 19 |
| Insurance Holdings | 121 | 94 | 127 | 27 | (6) |
| Other, Treasury & Corporate | (850) | (613) | (695) | (237) | (155) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total net income | $1682 | $1637 | $1602 | $45 | $80 |

---

Truist operates and measures business activity across three segments: Consumer Banking and Wealth, Corporate and Commercial Banking, and Insurance Holdings, with functional activities included in Other, Treasury and Corporate. The Company's business segment structure is based on the manner in which financial information is evaluated by management as well as the products and services provided or the type of client served. For additional information, see "Note 21. Operating Segments" of the Annual Report on Form 10-K for the year ended December 31, 2021.

***Fourth Quarter 2022 compared to Third Quarter 2022***

*<u>Consumer Banking and Wealth ("CB&W")</u>*

CB&W net income was $1.2 billion for the fourth quarter of 2022, an increase of $218 million compared to the prior quarter. Segment net interest income increased $298 million primarily driven by favorable funding credits on deposits attributable to a higher rate environment and higher average loan balances, partially offset by a decrease in loan spreads and lower average deposit balances. The allocated provision for credit losses increased $28 million primarily due to a moderately slower economic outlook. Noninterest income was relatively stable with higher mortgage banking income offsetting lower wealth income, service charges on deposits, and card and payment related fees. Noninterest expense was essentially flat driven by lower operational losses and marketing and customer development expenses, partially offset by higher personnel expenses and restructuring expenses in the current quarter.

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Average loans held for investment increased $3.0 billion, or 2.2%, compared to the prior quarter primarily due to an increase in residential mortgages and other consumer loans, partially offset by runoff in student loans and other partnership lending programs. Average total deposits decreased $6.6 billion, or 2.7%, compared to the prior quarter primarily due to declines in interest-bearing checking and money market and savings deposits as well noninterest-bearing deposits and time deposits.

*<u>Corporate and Commercial Banking ("C&CB")</u>*

C&CB net income was $1.2 billion for the fourth quarter of 2022, an increase of $37 million compared to the prior quarter. Segment net interest income increased $211 million due to higher funding credit on deposits, higher average loan balances, partially offset by lower deposit balances. The allocated provision for credit losses increased $184 million which reflects a reserve release in the prior quarter as well as loan growth and a moderately slower economic outlook in the current quarter. Noninterest income increased $31 million primarily due to higher investment banking income and lending related fees, partially offset by lower mark-to-market valuations and lower commercial mortgage income. Noninterest expense increased $17 million driven by increased personnel expenses due to strategic hiring.

Average loans held for investment increased $5.7 billion, or 3.4%, compared to the prior quarter primarily due to increases in commercial and industrial loans and commercial construction loans. Average total deposits decreased $570 million, or 0.4%, compared to the prior quarter primarily due to declines in noninterest-bearing deposits, partially offset by increases in money market and savings deposits and interest-bearing checking.

*<u>Insurance Holdings ("IH")</u>*

IH net income was $121 million for the fourth quarter of 2022, an increase of $27 million compared to the prior quarter. Noninterest income increased $67 million primarily due to seasonality and the BenefitMall acquisition. Noninterest expense increased $41 million primarily due to the BenefitMall acquisition.

*<u>Other, Treasury & Corporate ("OT&C")</u>*

OT&C generated a net loss of $850 million for the fourth quarter of 2022, compared to a net loss of $613 million for the prior quarter. Net interest income decreased $286 million primarily due to higher funding credit on deposits to other segments largely due to the higher rate environment. The allocated provision for credit losses increased $17 million which reflects a build in the reserve for unfunded commitments in the current quarter. Noninterest income increased $17 million primarily due to valuation changes from assets held for certain post-retirement benefits, which is primarily offset by higher personnel expense. Noninterest expense increased $56 million compared to the prior quarter primarily due to higher merger-related and restructuring charges, personnel expense, and other operating expenses.

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***Fourth Quarter 2022 compared to Fourth Quarter 2021***

*<u>Consumer Banking and Wealth</u>*

CB&W net income was $1.2 billion for the fourth quarter of 2022, an increase of $222 million compared to the earlier quarter. Segment net interest income increased $674 million primarily driven by favorable funding credit on deposits attributable to the higher rate environment and higher average loan balances, partially offset by decreased loan spreads, lower average deposit balances, and lower purchase accounting accretion. The allocated provision for credit losses increased $252 million reflecting a reserve release in the earlier quarter, and higher loan growth as well as a moderately slower economic outlook in the current quarter. Noninterest income decreased $109 million compared to earlier quarter primarily due to lower mortgage banking income as well as a decline in wealth income. Noninterest expense decreased $26 million compared to the earlier quarter primarily due to lower net occupancy and merger-related and restructuring charges, partially offset by increased personnel expense.

*<u>Corporate and Commercial Banking</u>*

C&CB net income was $1.2 billion for the fourth quarter of 2022, an increase of $19 million compared to the earlier quarter. Segment net interest income increased $523 million primarily due to higher funding credit on deposits and higher average loan balances, partially offset by lower purchase accounting accretion and lower PPP revenue. The allocated provision for credit losses increased $317 million primarily reflecting an allowance release in the earlier quarter and higher loan growth in the current quarter. Noninterest income decreased $147 million compared to the earlier quarter primarily due to lower investment banking revenue. Noninterest expense increased $13 million compared to the earlier quarter primarily due to higher salaries and equity-based compensation due to strategic hiring, partially offset by decrease in incremental operating expenses related to the merger and lower incentive expense.

*<u>Insurance Holdings</u>*

IH net income was $121 million for the fourth quarter of 2022, relatively stable compared to the earlier quarter. Noninterest income increased $120 million primarily due to continued organic growth and acquisitions. Noninterest expense increased $135 million primarily due to the impact of acquisitions, investments in new hires and teammates, performance-driven incentive expense, higher merger-related charges related to acquisitions, and an increase in travel and entertainment expense.

*<u>Other, Treasury & Corporate</u>*

OT&C generated a net loss of $850 million in the fourth quarter of 2022, compared to a net loss of $695 million in the earlier quarter. Net interest income decreased $482 million primarily due to higher funding credit on deposits to other segments, partially offset by higher earnings in the securities portfolio from the higher rate environment. Noninterest income increased $40 million primarily due to valuation changes from assets held for certain post-retirement benefits, which is almost entirely offset in other benefits expense. Noninterest expense decreased $100 million compared to the earlier quarter primarily due to a decrease in incremental operating expenses related to the merger.

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**Earnings Presentation and Quarterly Performance Summary**

Investors can access a live audio webcast of the fourth quarter 2022 earnings conference call at 8 a.m. ET today and view the news release and presentation materials at ir.truist.com under "Events & Presentations." The conference call can also be accessed by dialing 855-303-0072 and using passcode 100038. A replay of the call will be available on the website for 30 days.

The presentation, including an appendix reconciling non-GAAP disclosures, and Truist's Fourth Quarter 2022 Quarterly Performance Summary, which contains detailed financial schedules, are available at https://ir.truist.com/earnings.

**About Truist**

Truist Financial Corporation is a purpose-driven financial services company committed to inspiring and building better lives and communities. Truist has leading market share in many high-growth markets in the country, and offers a wide range of products and services through our retail and small business banking, commercial banking, corporate and investment banking, insurance, wealth management, and specialized lending businesses. Headquartered in Charlotte, North Carolina, Truist is a top 10 U.S. commercial bank with total assets of $555 billion as of December 31, 2022. Truist Bank, Member FDIC. Learn more at Truist.com.

#-#-#

*Capital ratios and return on risk-weighted assets are preliminary.*

*This news release contains financial information and performance measures determined by methods other than in accordance with accounting principles generally accepted in the United States of America ("GAAP"). Truist's management uses these "non-GAAP" measures in their analysis of the Corporation's performance and the efficiency of its operations. Management believes these non-GAAP measures provide a greater understanding of ongoing operations, enhance comparability of results with prior periods and demonstrate the effects of significant items in the current period. The Corporation believes a meaningful analysis of its financial performance requires an understanding of the factors underlying that performance. Truist's management believes investors may find these non-GAAP financial measures useful. These disclosures should not be viewed as a substitute for financial measures determined in accordance with GAAP, nor are they necessarily comparable to non-GAAP performance measures that may be presented by other companies. Below is a listing of the types of non-GAAP measures used in this news release:*

*• Adjusted Performance Measures -The adjusted performance measures, including adjusted diluted EPS, adjusted return on average assets, adjusted return on average common shareholders' equity, adjusted return on average tangible common shareholders' equity, adjusted efficiency, adjusted operating leverage, adjusted revenue, and adjusted noninterest expense, are non-GAAP in that they exclude merger-related and restructuring charges, other selected items, and amortization of intangible assets, as applicable to tangible measures. Truist's management uses these measures in their analysis of the Corporation's performance. Truist's management believes these measures provide a greater understanding of ongoing operations and enhance comparability of results with prior periods, as well as demonstrate the effects of significant gains and charges.*

*• Pre-Provision Net Revenue (PPNR) - Pre-provision net revenue is a non-GAAP measure that adjusts net income determined in accordance with GAAP to exclude the impact of the provision for credit losses and provision for income taxes. Adjusted pre-provision net revenue is a non-GAAP measure that additionally excludes securities gains (losses), merger-related and restructuring charges, amortization of intangible assets, and other selected items. Truist's management believes these measures provide a greater understanding of ongoing operations and enhances comparability of results with prior periods.*

*• Tangible Common Equity and Related Measures - Tangible common equity and related measures are non-GAAP measures that exclude the impact of intangible assets, net of deferred taxes, and their related amortization. These measures are useful for evaluating the performance of a business consistently, whether acquired or developed internally. Truist's management uses these measures to assess profitability, returns relative to balance sheet risk, and shareholder value.*

*• Core NIM - Core net interest margin is a non-GAAP measure that adjusts net interest margin to exclude the impact of purchase accounting. The purchase accounting marks and related amortization for loans, deposits, and long-term debt from SunTrust and other acquisitions are excluded to approximate the yields paid by clients. Truist's management believes the adjustments to the calculation of net interest margin for certain assets and liabilities acquired provide investors with useful information related to the performance of Truist's earning assets.*

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*• Insurance Holdings Adjusted EBITDA - EBITDA is a non-GAAP measurement of operating profitability that is calculated by adding back interest, taxes, depreciation, and amortization to net income. Truist's management also adds back merger-related and restructuring charges, incremental operating expenses related to the merger, and other selected items. Truist's management uses this measure in its analysis of the Corporation's Insurance Holdings segment. Truist's management believes this measure provides a greater understanding of ongoing operations and enhances comparability of results with prior periods, as well as demonstrates the effects of significant gains and charges.*

*A reconciliation of each of these non-GAAP measures to the most directly comparable GAAP measure is included in the appendix to Truist's Fourth Quarter 2022 Earnings Presentation, which is available at https://ir.truist.com/earnings.*

*This news release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, regarding the financial condition, results of operations, business plans and the future performance of Truist. Words such as "anticipates," "believes," "estimates," "expects," "forecasts," "intends," "plans," "projects," "may," "will," "should," "would," "could" and other similar expressions are intended to identify these forward-looking statements.*

*Forward-looking statements are not based on historical facts but instead represent management's expectations and assumptions regarding Truist's business, the economy, and other future conditions. Such statements involve inherent uncertainties, risks, and changes in circumstances that are difficult to predict. As such, Truist's actual results may differ materially from those contemplated by forward-looking statements. While there can be no assurance that any list of risks and uncertainties or risk factors is complete, important factors that could cause actual results to differ materially from those contemplated by forward-looking statements include the following, without limitation, as well as the risks and uncertainties more fully discussed under Part I, Item 1A-Risk Factors in our Annual Report on Form 10-K for the year ended December 31, 2021 and in Truist's subsequent filings with the Securities and Exchange Commission:*

*• changes in the interest rate environment, including the replacement of LIBOR as an interest rate benchmark, could adversely affect Truist's revenue and expenses, the value of assets and obligations, and the availability and cost of capital, cash flows, and liquidity;*

*• Truist is subject to credit risk by lending or committing to lend money, may have more credit risk and higher credit losses to the extent that loans are concentrated by loan type, industry segment, borrower type or location of the borrower or collateral, and may suffer losses if the value of collateral declines in stressed market conditions;*

*• inability to access short-term funding or liquidity, loss of client deposits or changes in Truist's credit ratings could increase the cost of funding or limit access to capital markets;*

*• general economic or business conditions, either globally, nationally or regionally, may be less favorable than expected, including as a result of supply chain disruptions, inflationary pressures and labor shortages, and instability in global geopolitical matters, including due to an outbreak or escalation of hostilities, or volatility in financial markets could result in, among other things, slower deposit or asset growth, a deterioration in credit quality, or a reduced demand for credit, insurance, or other services;*

*• the monetary and fiscal policies of the federal government and its agencies, including in response to rising inflation, could have a material adverse effect on the economy and Truist's profitability;*

*• the effects of COVID-19 have adversely impacted the Company's operations and financial performance and could have similar adverse impacts in future periods;*

*• risk management oversight functions may not identify or address risks adequately, and management may not be able to effectively manage credit risk;*

*• there are risks resulting from the extensive use of models in Truist's business, which may impact decisions made by management and regulators;*

*• deposit attrition, client loss or revenue loss following completed mergers or acquisitions may be greater than anticipated;*

*• Truist could fail to execute on strategic or operational plans, including the ability to successfully complete or integrate mergers and acquisitions;*

*• increased competition, including from (i) new or existing competitors that could have greater financial resources or be subject to different regulatory standards or compliance costs, and (ii) products and services offered by non-bank financial technology companies, may reduce Truist's client base, cause Truist to lower prices for its products and services in order to maintain market share or otherwise adversely impact Truist's businesses or results of operations;*

*• failure to maintain or enhance Truist's competitive position with respect to new products, services, and technology, whether it fails to anticipate client expectations or because its technological developments fail to perform as desired or do not achieve market acceptance or regulatory approval or for other reasons, may cause Truist to lose market share or incur additional expense;*

*• negative public opinion could damage Truist's reputation and adversely impact business and revenues;*

*• regulatory matters, litigation or other legal actions may result in, among other things, costs, fines, penalties, restrictions on Truist's business activities, reputational harm, negative publicity, or other adverse consequences;*

*• Truist faces substantial legal and operational risks in safeguarding personal information;*

*• evolving legislative, accounting and regulatory standards, including with respect to climate, capital, and liquidity requirements, and results of regulatory examinations may adversely affect Truist's financial condition and results of operations;*

*• increased scrutiny regarding Truist's consumer sales practices, training practices, incentive compensation design, and governance could damage its reputation and adversely impact business and revenues;*

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*• accounting policies and processes require management to make estimates about matters that are uncertain, including the potential write down to goodwill if there is an elongated period of decline in market value for Truist's stock and adverse economic conditions are sustained over a period of time;*

*• Truist faces risks related to originating and selling mortgages, including repurchase and indemnity demands from purchasers related to representations and warranties on loans sold, which could result in an increase in the amount of losses for loan repurchases;*

*• there are risks relating to Truist's role as a loan servicer, including an increase in the scope or costs of the services Truist is required to perform without any corresponding increase in servicing fees or a breach of Truist's obligations as servicer;*

*• Truist's success depends on hiring and retaining key teammates, and if these individuals leave or change roles without effective replacements, Truist's operations could be adversely impacted, which could be exacerbated in the increased work-from-home environment as job markets may be less constrained by physical geography;*

*• Truist's operations rely on its ability, and the ability of key external parties, to maintain appropriate-staffed workforces, and on the competence, trustworthiness, health and safety of teammates;*

*• Truist faces the risk of fraud or misconduct by internal or external parties, which Truist may not be able to prevent, detect, or mitigate;*

*• security risks, including denial of service attacks, hacking, social engineering attacks targeting Truist's teammates and clients, malware intrusion, data corruption attempts, system breaches, cyber-attacks, which have increased in frequency with current geopolitical tensions, identity theft, ransomware attacks, and physical security risks, such as natural disasters, environmental conditions, and intentional acts of destruction, could result in the disclosure of confidential information, adversely affect Truist's business or reputation or create significant legal or financial exposure; and*

*• widespread outages of operational, communication, or other systems, whether internal or provided by third parties, natural or other disasters (including acts of terrorism and pandemics), and the effects of climate change, including physical risks, such as more frequent and intense weather events, and risks related to the transition to a lower carbon economy, such as regulatory or technological changes or shifts in market dynamics or consumer preferences, could have an adverse effect on Truist's financial condition and results of operations, lead to material disruption of Truist's operations or the ability or willingness of clients to access Truist's products and services.*

*Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date they are made. Except to the extent required by applicable law or regulation, Truist undertakes no obligation to revise or update any forward-looking statements.*

## Exhibit 99.2

![logo-boxed1.jpg](logo-boxed1.jpg)

**Quarterly Performance Summary**

Truist Financial Corporation

Fourth Quarter 2022

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| | |
|:---|:---|
| **Table of Contents** | |
| Quarterly Performance Summary |  |
| Truist Financial Corporation |  |
|  | Page |
| Financial Highlights | <u>[1](#i01f21ae1700d48dba7d17b71c148f95d_7)</u> |
| Financial Highlights - Five Quarter Trend | <u>[2](#i01f21ae1700d48dba7d17b71c148f95d_10)</u> |
| Consolidated Statements of Income | <u>[3](#i01f21ae1700d48dba7d17b71c148f95d_13)</u> |
| Consolidated Statements of Income - Five Quarter Trend | <u>[4](#i01f21ae1700d48dba7d17b71c148f95d_16)</u> |
| Consolidated Ending Balance Sheets - Five Quarter Trend | <u>[5](#i01f21ae1700d48dba7d17b71c148f95d_19)</u> |
| Average Balance Sheets | <u>[6](#i01f21ae1700d48dba7d17b71c148f95d_22)</u> |
| Average Balance Sheets - Five Quarter Trend | <u>[7](#i01f21ae1700d48dba7d17b71c148f95d_25)</u> |
| Average Balances and Rates - Quarters | <u>[8](#i01f21ae1700d48dba7d17b71c148f95d_28)</u> |
| Average Balances and Rates - Year-To-Date | <u>[10](#i01f21ae1700d48dba7d17b71c148f95d_34)</u> |
| Credit Quality | <u>[11](#i01f21ae1700d48dba7d17b71c148f95d_37)</u> |
| Segment Financial Performance - Five Quarter Trend | <u>[15](#i01f21ae1700d48dba7d17b71c148f95d_58)</u> |
| Capital Information - Five Quarter Trend | <u>[16](#i01f21ae1700d48dba7d17b71c148f95d_64)</u> |
| Selected Mortgage Banking Information & Additional Information | <u>[17](#i01f21ae1700d48dba7d17b71c148f95d_67)</u> |
| Selected Items | <u>[18](#i01f21ae1700d48dba7d17b71c148f95d_70)</u> |
| Non-GAAP Reconciliations | <u>[19](#i01f21ae1700d48dba7d17b71c148f95d_73)</u> |

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Financial Highlights** | | | | | | |
| **Financial Highlights** | **Quarter Ended** | **Quarter Ended** | | **Year-to-Date** | **Year-to-Date** | |
| | **December 31** | **December 31** | | **December 31** | **December 31** | |
| **(Dollars in millions, except per share data, shares in thousands)** | **2022** | **2021** |<br>**%**<br>**Change** | **2022** | **2021** |<br>**%**<br>**Change** |
| **Summary Income Statement** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest income - taxable equivalent (1) | $5288 | $3435 | 53.9% | $16779 | $13882 | 20.9% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest expense | 1257 | 168 | NM | 2321 | 768 | NM |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net interest income - taxable equivalent | 4031 | 3267 | 23.4 | 14458 | 13114 | 10.2 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Less: Taxable-equivalent adjustment | 50 | 24 | 108.3 | 142 | 108 | 31.5 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net interest income | 3981 | 3243 | 22.8 | 14316 | 13006 | 10.1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Provision for credit losses | 467 | (103) | NM | 777 | (813) | (195.6) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net interest income after provision for credit losses | 3514 | 3346 | 5.0 | 13539 | 13819 | (2.0) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Noninterest income | 2227 | 2323 | (4.1) | 8719 | 9290 | (6.1) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Noninterest expense | 3722 | 3700 | 0.6 | 14589 | 15116 | (3.5) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Income before income taxes | 2019 | 1969 | 2.5 | 7669 | 7993 | (4.1) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Provision for income taxes | 337 | 367 | (8.2) | 1402 | 1556 | (9.9) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net income | 1682 | 1602 | 5.0 | 6267 | 6437 | (2.6) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Noncontrolling interests | 1 |  | NM | 7 | (3) | NM |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net income available to the bank holding company | 1681 | 1602 | 4.9 | 6260 | 6440 | (2.8) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Preferred stock dividends and other | 71 | 78 | (9.0) | 333 | 407 | (18.2) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net income available to common shareholders | 1610 | 1524 | 5.6 | 5927 | 6033 | (1.8) |
| **Per Common Share Data** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Earnings per share-basic | $1.21 | $1.15 | 5.2% | $4.46 | $4.51 | (1.1)% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Earnings per share-diluted | 1.20 | 1.13 | 6.2 | 4.43 | 4.47 | (0.9) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Earnings per share-adjusted diluted (2) | 1.30 | 1.38 | (5.8) | 4.96 | 5.53 | (10.3) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cash dividends declared | 0.52 | 0.48 | 8.3 | 2.00 | 1.86 | 7.5 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Common shareholders' equity | 40.58 | 47.14 | (13.9) | 40.58 | 47.14 | (13.9) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tangible common shareholders' equity (2) | 18.04 | 25.47 | (29.2) | 18.04 | 25.47 | (29.2) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;End of period shares outstanding | 1326829 | 1327818 | (0.1) | 1326829 | 1327818 | (0.1) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Weighted average shares outstanding-basic | 1326787 | 1329979 | (0.2) | 1328120 | 1337144 | (0.7) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Weighted average shares outstanding-diluted | 1337338 | 1343029 | (0.4) | 1338462 | 1349378 | (0.8) |
| **Performance Ratios** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Return on average assets | 1.21% | 1.19% |  | 1.15% | 1.23% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Return on average risk-weighted assets (current period is preliminary) | 1.56 | 1.64 |  | 1.52 | 1.69 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Return on average common shareholders' equity | 11.7 | 9.8 |  | 10.4 | 9.7 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Return on average tangible common shareholders' equity (2) | 27.6 | 18.9 |  | 22.9 | 18.4 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net interest margin - taxable equivalent | 3.25 | 2.76 |  | 3.01 | 2.86 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fee income ratio | 35.9 | 41.7 |  | 37.9 | 41.7 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Efficiency ratio-GAAP | 60.0 | 66.5 |  | 63.3 | 67.8 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Efficiency ratio-adjusted (2) | 54.2 | 56.0 |  | 56.4 | 56.7 |  |
| **Credit Quality** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nonperforming assets as a percentage of: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Assets, including LHFS | 0.23% | 0.21% |  | 0.23% | 0.21% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Loans and leases plus foreclosed property | 0.38 | 0.39 |  | 0.38 | 0.39 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net charge-offs as a percentage of average loans and leases | 0.34 | 0.25 |  | 0.27 | 0.24 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Allowance for loan and lease losses as a percentage of LHFI | 1.34 | 1.53 |  | 1.34 | 1.53 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ratio of allowance for loan and lease losses to nonperforming LHFI | 3.68x | 4.07x |  | 3.68x | 4.07x |  |
| **Average Balances** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Assets | $552959 | $534911 | 3.4% | $543830 | $522385 | 4.1% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Securities (3) | 142433 | 153405 | (7.2) | 147266 | 139497 | 5.6 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Loans and leases | 322733 | 291074 | 10.9 | 306835 | 293448 | 4.6 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deposits | 413276 | 410966 | 0.6 | 418090 | 398372 | 4.9 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Common shareholders' equity | 54823 | 61807 | (11.3) | 57124 | 62112 | (8.0) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total shareholders' equity | 61519 | 68480 | (10.2) | 63817 | 69133 | (7.7) |
| **Period-End Balances** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Assets | $555255 | $541241 | 2.6% |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Securities (3) | 129514 | 154617 | (16.2) |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Loans and leases | 327435 | 294325 | 11.2 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deposits | 413495 | 416488 | (0.7) |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Common shareholders' equity | 53841 | 62598 | (14.0) |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total shareholders' equity | 60537 | 69271 | (12.6) |  |  |  |
| **Capital Ratios (current quarter is preliminary)** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Common equity Tier 1 | 9.0% | 9.6% |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tier 1 | 10.5 | 11.3 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | 12.5 | 13.2 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Leverage | 8.5 | 8.7 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Supplementary leverage | 7.3 | 7.4 |  |  |  |  |
| Applicable ratios are annualized. | Applicable ratios are annualized. | Applicable ratios are annualized. | Applicable ratios are annualized. |  |  |  |
| NM - not meaningful |  |  |  |  |  |  |
| (1) Interest income includes certain fees, deferred costs, fair value mark accretion, and dividends. | (1) Interest income includes certain fees, deferred costs, fair value mark accretion, and dividends. | (1) Interest income includes certain fees, deferred costs, fair value mark accretion, and dividends. | (1) Interest income includes certain fees, deferred costs, fair value mark accretion, and dividends. | (1) Interest income includes certain fees, deferred costs, fair value mark accretion, and dividends. | (1) Interest income includes certain fees, deferred costs, fair value mark accretion, and dividends. | (1) Interest income includes certain fees, deferred costs, fair value mark accretion, and dividends. |
| (2) Represents a non-GAAP measure. See the calculations and management's reasons for using these measures in the Non-GAAP Reconciliations and Preliminary Capital Information - Five Quarter Trend sections of this supplement. | (2) Represents a non-GAAP measure. See the calculations and management's reasons for using these measures in the Non-GAAP Reconciliations and Preliminary Capital Information - Five Quarter Trend sections of this supplement. | (2) Represents a non-GAAP measure. See the calculations and management's reasons for using these measures in the Non-GAAP Reconciliations and Preliminary Capital Information - Five Quarter Trend sections of this supplement. | (2) Represents a non-GAAP measure. See the calculations and management's reasons for using these measures in the Non-GAAP Reconciliations and Preliminary Capital Information - Five Quarter Trend sections of this supplement. | (2) Represents a non-GAAP measure. See the calculations and management's reasons for using these measures in the Non-GAAP Reconciliations and Preliminary Capital Information - Five Quarter Trend sections of this supplement. | (2) Represents a non-GAAP measure. See the calculations and management's reasons for using these measures in the Non-GAAP Reconciliations and Preliminary Capital Information - Five Quarter Trend sections of this supplement. | (2) Represents a non-GAAP measure. See the calculations and management's reasons for using these measures in the Non-GAAP Reconciliations and Preliminary Capital Information - Five Quarter Trend sections of this supplement. |
| (3) Includes AFS and HTM securities. Average balances reflect both AFS and HTM securities at amortized cost. Period-end balances reflect AFS securities at fair value and HTM securities at amortized cost. | (3) Includes AFS and HTM securities. Average balances reflect both AFS and HTM securities at amortized cost. Period-end balances reflect AFS securities at fair value and HTM securities at amortized cost. | (3) Includes AFS and HTM securities. Average balances reflect both AFS and HTM securities at amortized cost. Period-end balances reflect AFS securities at fair value and HTM securities at amortized cost. | (3) Includes AFS and HTM securities. Average balances reflect both AFS and HTM securities at amortized cost. Period-end balances reflect AFS securities at fair value and HTM securities at amortized cost. | (3) Includes AFS and HTM securities. Average balances reflect both AFS and HTM securities at amortized cost. Period-end balances reflect AFS securities at fair value and HTM securities at amortized cost. | (3) Includes AFS and HTM securities. Average balances reflect both AFS and HTM securities at amortized cost. Period-end balances reflect AFS securities at fair value and HTM securities at amortized cost. | (3) Includes AFS and HTM securities. Average balances reflect both AFS and HTM securities at amortized cost. Period-end balances reflect AFS securities at fair value and HTM securities at amortized cost. |

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Truist Financial Corporation 1

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Financial Highlights - Five Quarter Trend** | | | | | |
| **Financial Highlights - Five Quarter Trend** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** |
| **(Dollars in millions, except per share data, shares in thousands)** | **Dec. 31**<br>**2022** | **Sept. 30**<br>**2022** | **June 30**<br>**2022** | **March 31**<br>**2022** | **Dec. 31**<br>**2021** |
| **Summary Income Statement** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest income - taxable equivalent (1) | $5288 | $4407 | $3701 | $3383 | $3435 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest expense | 1257 | 624 | 266 | 174 | 168 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net interest income - taxable equivalent | 4031 | 3783 | 3435 | 3209 | 3267 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Less: Taxable-equivalent adjustment | 50 | 38 | 28 | 26 | 24 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net interest income | 3981 | 3745 | 3407 | 3183 | 3243 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Provision for credit losses | 467 | 234 | 171 | (95) | (103) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net interest income after provision for credit losses | 3514 | 3511 | 3236 | 3278 | 3346 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Noninterest income | 2227 | 2102 | 2248 | 2142 | 2323 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Noninterest expense | 3722 | 3613 | 3580 | 3674 | 3700 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Income before income taxes | 2019 | 2000 | 1904 | 1746 | 1969 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Provision for income taxes | 337 | 363 | 372 | 330 | 367 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net income | 1682 | 1637 | 1532 | 1416 | 1602 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Noncontrolling interests | 1 | 4 | 1 | 1 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net income available to the bank holding company | 1681 | 1633 | 1531 | 1415 | 1602 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Preferred stock dividends and other | 71 | 97 | 77 | 88 | 78 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net income available to common shareholders | 1610 | 1536 | 1454 | 1327 | 1524 |
| **Per Common Share Data** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Earnings per share-basic | $1.21 | $1.16 | $1.09 | $1.00 | $1.15 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Earnings per share-diluted | 1.20 | 1.15 | 1.09 | 0.99 | 1.13 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Earnings per share-adjusted diluted (2) | 1.30 | 1.24 | 1.20 | 1.23 | 1.38 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cash dividends declared | 0.52 | 0.52 | 0.48 | 0.48 | 0.48 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Common shareholders' equity | 40.58 | 40.79 | 42.45 | 43.82 | 47.14 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tangible common shareholders' equity (2) | 18.04 | 18.36 | 20.51 | 21.87 | 25.47 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;End of period shares outstanding | 1326829 | 1326766 | 1326393 | 1331414 | 1327818 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Weighted average shares outstanding-basic | 1326787 | 1326539 | 1330160 | 1329037 | 1329979 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Weighted average shares outstanding-diluted | 1337338 | 1336659 | 1338864 | 1341563 | 1343029 |
| **Performance Ratios** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Return on average assets | 1.21% | 1.19% | 1.14% | 1.07% | 1.19% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Return on average risk-weighted assets (current quarter is preliminary) | 1.56 | 1.56 | 1.52 | 1.46 | 1.64 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Return on average common shareholders' equity | 11.7 | 10.7 | 10.3 | 9.0 | 9.8 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Return on average tangible common shareholders' equity (2) | 27.6 | 23.5 | 22.7 | 18.6 | 18.9 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net interest margin - taxable equivalent | 3.25 | 3.12 | 2.89 | 2.76 | 2.76 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fee income ratio | 35.9 | 36.0 | 39.7 | 40.2 | 41.7 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Efficiency ratio-GAAP | 60.0 | 61.8 | 63.3 | 69.0 | 66.5 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Efficiency ratio-adjusted (2) | 54.2 | 56.4 | 57.0 | 58.3 | 56.0 |
| **Credit Quality** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nonperforming assets as a percentage of: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Assets, including LHFS | 0.23% | 0.23% | 0.22% | 0.21% | 0.21% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Loans and leases plus foreclosed property | 0.38 | 0.37 | 0.38 | 0.38 | 0.39 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net charge-offs as a percentage of average loans and leases | 0.34 | 0.27 | 0.22 | 0.25 | 0.25 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Allowance for loan and lease losses as a percentage of LHFI | 1.34 | 1.34 | 1.38 | 1.44 | 1.53 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ratio of allowance for loan and lease losses to nonperforming LHFI | 3.68x | 3.80x | 3.84x | 3.99x | 4.07x |
| **Average Balances** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Assets | $552959 | $545606 | $540568 | $535981 | $534911 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Securities (3) | 142433 | 145396 | 148681 | 152687 | 153405 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Loans and leases | 322733 | 311876 | 299861 | 292484 | 291074 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deposits | 413276 | 420096 | 423750 | 415238 | 410966 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Common shareholders' equity | 54823 | 56813 | 56803 | 60117 | 61807 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total shareholders' equity | 61519 | 63510 | 63500 | 66798 | 68480 |
| **Period-End Balances** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Assets | $555255 | $548438 | $545123 | $543979 | $541241 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Securities (3) | 129514 | 131732 | 139359 | 146415 | 154617 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Loans and leases | 327435 | 316639 | 307300 | 294248 | 294325 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deposits | 413495 | 415992 | 424759 | 428328 | 416488 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Common shareholders' equity | 53841 | 54115 | 56302 | 58348 | 62598 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total shareholders' equity | 60537 | 60811 | 62999 | 65044 | 69271 |
| **Capital Ratios (current quarter is preliminary)** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Common equity Tier 1 | 9.0% | 9.1% | 9.2% | 9.4% | 9.6% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tier 1 | 10.5 | 10.7 | 10.8 | 11.0 | 11.3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | 12.5 | 12.6 | 12.6 | 13.0 | 13.2 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Leverage | 8.5 | 8.5 | 8.6 | 8.6 | 8.7 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Supplementary leverage | 7.3 | 7.3 | 7.3 | 7.3 | 7.4 |
| Applicable ratios are annualized. | Applicable ratios are annualized. | Applicable ratios are annualized. | Applicable ratios are annualized. | Applicable ratios are annualized. | Applicable ratios are annualized. |
| (1) Interest income includes certain fees, deferred costs, fair value mark accretion, and dividends. | (1) Interest income includes certain fees, deferred costs, fair value mark accretion, and dividends. | (1) Interest income includes certain fees, deferred costs, fair value mark accretion, and dividends. | (1) Interest income includes certain fees, deferred costs, fair value mark accretion, and dividends. | (1) Interest income includes certain fees, deferred costs, fair value mark accretion, and dividends. | (1) Interest income includes certain fees, deferred costs, fair value mark accretion, and dividends. |
| (2) Represents a non-GAAP measure. See the calculations and management's reasons for using these measures in the Non-GAAP Reconciliations and Preliminary Capital Information - Five Quarter Trend sections of this supplement. | (2) Represents a non-GAAP measure. See the calculations and management's reasons for using these measures in the Non-GAAP Reconciliations and Preliminary Capital Information - Five Quarter Trend sections of this supplement. | (2) Represents a non-GAAP measure. See the calculations and management's reasons for using these measures in the Non-GAAP Reconciliations and Preliminary Capital Information - Five Quarter Trend sections of this supplement. | (2) Represents a non-GAAP measure. See the calculations and management's reasons for using these measures in the Non-GAAP Reconciliations and Preliminary Capital Information - Five Quarter Trend sections of this supplement. | (2) Represents a non-GAAP measure. See the calculations and management's reasons for using these measures in the Non-GAAP Reconciliations and Preliminary Capital Information - Five Quarter Trend sections of this supplement. | (2) Represents a non-GAAP measure. See the calculations and management's reasons for using these measures in the Non-GAAP Reconciliations and Preliminary Capital Information - Five Quarter Trend sections of this supplement. |
| (3) Includes AFS and HTM securities. Average balances reflect both AFS and HTM securities at amortized cost. Period-end balances reflect AFS securities at fair value and HTM securities at amortized cost. | (3) Includes AFS and HTM securities. Average balances reflect both AFS and HTM securities at amortized cost. Period-end balances reflect AFS securities at fair value and HTM securities at amortized cost. | (3) Includes AFS and HTM securities. Average balances reflect both AFS and HTM securities at amortized cost. Period-end balances reflect AFS securities at fair value and HTM securities at amortized cost. | (3) Includes AFS and HTM securities. Average balances reflect both AFS and HTM securities at amortized cost. Period-end balances reflect AFS securities at fair value and HTM securities at amortized cost. | (3) Includes AFS and HTM securities. Average balances reflect both AFS and HTM securities at amortized cost. Period-end balances reflect AFS securities at fair value and HTM securities at amortized cost. | (3) Includes AFS and HTM securities. Average balances reflect both AFS and HTM securities at amortized cost. Period-end balances reflect AFS securities at fair value and HTM securities at amortized cost. |

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2 Truist Financial Corporation

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Quarter Ended** | **Quarter Ended** | | **Year-to-Date** | **Year-to-Date** | |
| | **Dec. 31** | **Dec. 31** |<br>**Change** | **Dec. 31** | **Dec. 31** |<br>**Change** |
| **Consolidated Statements of Income**<br><br>**(Dollars in millions, except per share data, shares in thousands)** | **2022** | **2021** | $**%** | **2022** | **2021** | $**%** |
| **Interest Income** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest and fees on loans and leases | $4220 | $2753 | 53.3% | $13252 | $11481 | 15.4% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest on securities | 739 | 602 | 22.8 | 2763 | 2090 | 32.2 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest on other earning assets | 279 | 56 | NM | 622 | 203 | NM |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total interest income | 5238 | 3411 | 53.6 | 16637 | 13774 | 20.8 |
| **Interest Expense** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest on deposits | 683 | 32 | NM | 1145 | 148 | NM |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest on long-term debt | 332 | 127 | 161.4 | 791 | 573 | 38.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest on other borrowings | 242 | 9 | NM | 385 | 47 | NM |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total interest expense | 1257 | 168 | NM | 2321 | 768 | NM |
| **Net Interest Income** | 3981 | 3243 | 22.8 | 14316 | 13006 | 10.1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Provision for credit losses | 467 | (103) | NM | 777 | (813) | (195.6) |
| **Net Interest Income After Provision for Credit Losses** | 3514 | 3346 | 5.0 | 13539 | 13819 | (2.0) |
| **Noninterest Income** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Insurance income | 766 | 666 | 15.0 | 3043 | 2627 | 15.8 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Wealth management income | 324 | 350 | (7.4) | 1338 | 1392 | (3.9) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investment banking and trading income | 257 | 377 | (31.8) | 995 | 1441 | (31.0) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Service charges on deposits | 257 | 273 | (5.9) | 1026 | 1060 | (3.2) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Card and payment related fees | 245 | 224 | 9.4 | 944 | 874 | 8.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mortgage banking income | 117 | 204 | (42.6) | 460 | 734 | (37.3) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lending related fees | 110 | 81 | 35.8 | 375 | 349 | 7.4 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Operating lease income | 68 | 71 | (4.2) | 258 | 262 | (1.5) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Securities gains (losses) |  |  |  | (71) |  | NM |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other income | 83 | 77 | 7.8 | 351 | 551 | (36.3) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total noninterest income | 2227 | 2323 | (4.1) | 8719 | 9290 | (6.1) |
| **Noninterest Expense** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Personnel expense | 2198 | 2096 | 4.9 | 8467 | 8632 | (1.9) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Professional fees and outside processing | 347 | 379 | (8.4) | 1411 | 1442 | (2.1) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Software expense | 241 | 238 | 1.3 | 932 | 945 | (1.4) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net occupancy expense | 179 | 186 | (3.8) | 744 | 764 | (2.6) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amortization of intangibles | 163 | 143 | 14.0 | 583 | 574 | 1.6 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Equipment expense | 124 | 124 |  | 478 | 513 | (6.8) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Marketing and customer development | 70 | 68 | 2.9 | 352 | 294 | 19.7 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Operating lease depreciation | 44 | 46 | (4.3) | 184 | 190 | (3.2) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Regulatory costs | 52 | 38 | 36.8 | 183 | 137 | 33.6 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Merger-related and restructuring charges | 114 | 212 | (46.2) | 513 | 822 | (37.6) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other expense | 190 | 170 | 11.8 | 742 | 803 | (7.6) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total noninterest expense | 3722 | 3700 | 0.6 | 14589 | 15116 | (3.5) |
| **Earnings** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Income before income taxes | 2019 | 1969 | 2.5 | 7669 | 7993 | (4.1) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Provision for income taxes | 337 | 367 | (8.2) | 1402 | 1556 | (9.9) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Net income** | 1682 | 1602 | 5.0 | 6267 | 6437 | (2.6) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Noncontrolling interests | 1 |  | NM | 7 | (3) | NM |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Net income available to the bank holding company** | 1681 | 1602 | 4.9 | 6260 | 6440 | (2.8) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Preferred stock dividends and other | 71 | 78 | (9.0) | 333 | 407 | (18.2) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Net income available to common shareholders** | $1610 | $1524 | 5.6% | $5927 | $6033 | (1.8)% |
| **Earnings Per Common Share** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Basic | $1.21 | $1.15 | 5.2% | $4.46 | $4.51 | (1.1)% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Diluted | 1.20 | 1.13 | 6.2 | 4.43 | 4.47 | (0.9) |
| **Weighted Average Shares Outstanding** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Basic | 1326787 | 1329979 | (0.2) | 1328120 | 1337144 | (0.7) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Diluted | 1337338 | 1343029 | (0.4) | 1338462 | 1349378 | (0.8) |
| NM - not meaningful |  |  |  |  |  |  |
| In 4Q22, the Company combined residential mortgage income and commercial mortgage income. Further, the Company collapsed income from bank-owned life insurances into other income and loan-related expense and loss (gain) on early extinguishment of debt into other expense. Prior periods were restated to conform to the current presentation. | In 4Q22, the Company combined residential mortgage income and commercial mortgage income. Further, the Company collapsed income from bank-owned life insurances into other income and loan-related expense and loss (gain) on early extinguishment of debt into other expense. Prior periods were restated to conform to the current presentation. | In 4Q22, the Company combined residential mortgage income and commercial mortgage income. Further, the Company collapsed income from bank-owned life insurances into other income and loan-related expense and loss (gain) on early extinguishment of debt into other expense. Prior periods were restated to conform to the current presentation. | In 4Q22, the Company combined residential mortgage income and commercial mortgage income. Further, the Company collapsed income from bank-owned life insurances into other income and loan-related expense and loss (gain) on early extinguishment of debt into other expense. Prior periods were restated to conform to the current presentation. | In 4Q22, the Company combined residential mortgage income and commercial mortgage income. Further, the Company collapsed income from bank-owned life insurances into other income and loan-related expense and loss (gain) on early extinguishment of debt into other expense. Prior periods were restated to conform to the current presentation. | In 4Q22, the Company combined residential mortgage income and commercial mortgage income. Further, the Company collapsed income from bank-owned life insurances into other income and loan-related expense and loss (gain) on early extinguishment of debt into other expense. Prior periods were restated to conform to the current presentation. | In 4Q22, the Company combined residential mortgage income and commercial mortgage income. Further, the Company collapsed income from bank-owned life insurances into other income and loan-related expense and loss (gain) on early extinguishment of debt into other expense. Prior periods were restated to conform to the current presentation. |

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Truist Financial Corporation 3

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** |
| **Consolidated Statements of Income - Five Quarter Trend**<br><br>**(Dollars in millions, except per share data, shares in thousands)** | **Dec. 31**<br>**2022** | **Sept. 30**<br>**2022** | **June 30**<br>**2022** | **March 31**<br>**2022** | **Dec. 31**<br>**2021** |
| **Interest Income** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest and fees on loans and leases | $4220 | $3490 | $2898 | $2644 | $2753 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest on securities | 739 | 709 | 675 | 640 | 602 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest on other earning assets | 279 | 170 | 100 | 73 | 56 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total interest income | 5238 | 4369 | 3673 | 3357 | 3411 |
| **Interest Expense** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest on deposits | 683 | 331 | 99 | 32 | 32 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest on long-term debt | 332 | 190 | 137 | 132 | 127 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest on other borrowings | 242 | 103 | 30 | 10 | 9 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total interest expense | 1257 | 624 | 266 | 174 | 168 |
| **Net Interest Income** | 3981 | 3745 | 3407 | 3183 | 3243 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Provision for credit losses | 467 | 234 | 171 | (95) | (103) |
| **Net Interest Income After Provision for Credit Losses** | 3514 | 3511 | 3236 | 3278 | 3346 |
| **Noninterest Income** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Insurance income | 766 | 725 | 825 | 727 | 666 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Wealth management income | 324 | 334 | 337 | 343 | 350 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investment banking and trading income | 257 | 222 | 255 | 261 | 377 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Service charges on deposits | 257 | 263 | 254 | 252 | 273 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Card and payment related fees | 245 | 241 | 246 | 212 | 224 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mortgage banking income | 117 | 122 | 100 | 121 | 204 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lending related fees | 110 | 80 | 100 | 85 | 81 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Operating lease income | 68 | 66 | 66 | 58 | 71 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Securities gains (losses) |  | (1) | (1) | (69) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other income | 83 | 50 | 66 | 152 | 77 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total noninterest income | 2227 | 2102 | 2248 | 2142 | 2323 |
| **Noninterest Expense** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Personnel expense | 2198 | 2116 | 2102 | 2051 | 2096 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Professional fees and outside processing | 347 | 352 | 349 | 363 | 379 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Software expense | 241 | 225 | 234 | 232 | 238 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net occupancy expense | 179 | 176 | 181 | 208 | 186 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amortization of intangibles | 163 | 140 | 143 | 137 | 143 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Equipment expense | 124 | 122 | 114 | 118 | 124 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Marketing and customer development | 70 | 105 | 93 | 84 | 68 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Operating lease depreciation | 44 | 45 | 47 | 48 | 46 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Regulatory costs | 52 | 52 | 44 | 35 | 38 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Merger-related and restructuring charges | 114 | 62 | 121 | 216 | 212 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other expense | 190 | 218 | 152 | 182 | 170 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total noninterest expense | 3722 | 3613 | 3580 | 3674 | 3700 |
| **Earnings** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Income before income taxes | 2019 | 2000 | 1904 | 1746 | 1969 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Provision for income taxes | 337 | 363 | 372 | 330 | 367 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Net income** | 1682 | 1637 | 1532 | 1416 | 1602 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Noncontrolling interests | 1 | 4 | 1 | 1 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Net income available to the bank holding company** | 1681 | 1633 | 1531 | 1415 | 1602 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Preferred stock dividends and other | 71 | 97 | 77 | 88 | 78 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Net income available to common shareholders** | $1610 | $1536 | $1454 | $1327 | $1524 |
| **Earnings Per Common Share** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Basic | $1.21 | $1.16 | $1.09 | $1.00 | $1.15 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Diluted | 1.20 | 1.15 | 1.09 | 0.99 | 1.13 |
| **Weighted Average Shares Outstanding** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Basic | 1326787 | 1326539 | 1330160 | 1329037 | 1329979 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Diluted | 1337338 | 1336659 | 1338864 | 1341563 | 1343029 |
| In 4Q22, the Company combined residential mortgage income and commercial mortgage income. Further, the Company collapsed income from bank-owned life insurances into other income and loan-related expense and loss (gain) on early extinguishment of debt into other expense. Prior periods were restated to conform to the current presentation. | In 4Q22, the Company combined residential mortgage income and commercial mortgage income. Further, the Company collapsed income from bank-owned life insurances into other income and loan-related expense and loss (gain) on early extinguishment of debt into other expense. Prior periods were restated to conform to the current presentation. | In 4Q22, the Company combined residential mortgage income and commercial mortgage income. Further, the Company collapsed income from bank-owned life insurances into other income and loan-related expense and loss (gain) on early extinguishment of debt into other expense. Prior periods were restated to conform to the current presentation. | In 4Q22, the Company combined residential mortgage income and commercial mortgage income. Further, the Company collapsed income from bank-owned life insurances into other income and loan-related expense and loss (gain) on early extinguishment of debt into other expense. Prior periods were restated to conform to the current presentation. | In 4Q22, the Company combined residential mortgage income and commercial mortgage income. Further, the Company collapsed income from bank-owned life insurances into other income and loan-related expense and loss (gain) on early extinguishment of debt into other expense. Prior periods were restated to conform to the current presentation. | In 4Q22, the Company combined residential mortgage income and commercial mortgage income. Further, the Company collapsed income from bank-owned life insurances into other income and loan-related expense and loss (gain) on early extinguishment of debt into other expense. Prior periods were restated to conform to the current presentation. |

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4 Truist Financial Corporation

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Consolidated Ending Balance Sheets - Five Quarter Trend**<br>**(Dollars in millions)** |<br>**Dec. 31**<br>**2022** |<br>**Sept. 30**<br>**2022** |<br>**June 30**<br>**2022** |<br>**March 31**<br>**2022** |<br>**Dec. 31**<br>**2021** |
| **Assets** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cash and due from banks | $5379 | $5031 | $5511 | $5516 | $5085 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest-bearing deposits with banks | 16042 | 17194 | 17602 | 23606 | 15210 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Securities borrowed or purchased under resale agreements | 3181 | 2568 | 2650 | 2322 | 4028 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Trading assets at fair value | 4905 | 5864 | 5230 | 5920 | 4423 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Securities available for sale at fair value | 71801 | 72978 | 79278 | 84753 | 153123 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Securities held to maturity at amortized cost | 57713 | 58754 | 60081 | 61662 | 1494 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Loans and leases: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commercial: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commercial and industrial | 164307 | 153615 | 149840 | 141060 | 138762 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CRE | 22676 | 22493 | 22149 | 22774 | 23951 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commercial construction | 5849 | 5568 | 5157 | 5220 | 4971 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Residential mortgage | 56645 | 55529 | 50903 | 48171 | 47852 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Residential home equity and direct | 25432 | 25657 | 25345 | 24853 | 25066 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indirect auto | 27951 | 28239 | 27419 | 25756 | 26441 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indirect other | 12977 | 12683 | 11961 | 11043 | 10883 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Student | 5287 | 5780 | 6144 | 6514 | 6780 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Credit card | 4867 | 4771 | 4744 | 4690 | 4807 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total loans and leases held for investment | 325991 | 314335 | 303662 | 290081 | 289513 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Loans held for sale | 1444 | 2304 | 3638 | 4167 | 4812 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total loans and leases | 327435 | 316639 | 307300 | 294248 | 294325 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Allowance for loan and lease losses | (4377) | (4205) | (4187) | (4170) | (4435) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Premises and equipment | 3605 | 3585 | 3682 | 3662 | 3700 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Goodwill | 27013 | 26810 | 26299 | 26284 | 26098 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Core deposit and other intangible assets | 3672 | 3726 | 3535 | 3693 | 3408 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Loan servicing rights at fair value | 3758 | 3797 | 3466 | 3013 | 2633 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other assets | 35128 | 35697 | 34676 | 33470 | 32149 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total assets | $555255 | $548438 | $545123 | $543979 | $541241 |
| **Liabilities** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deposits: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Noninterest-bearing deposits | $135742 | $144826 | $147752 | $150446 | $145892 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest checking | 110464 | 110397 | 114143 | 119572 | 115754 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Money market and savings | 143815 | 146315 | 149302 | 143834 | 138956 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Time deposits | 23474 | 14454 | 13562 | 14476 | 15886 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total deposits | 413495 | 415992 | 424759 | 428328 | 416488 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Short-term borrowings | 23422 | 25687 | 13736 | 5147 | 5292 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Long-term debt | 43203 | 31172 | 30319 | 33773 | 35913 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other liabilities | 14598 | 14776 | 13310 | 11687 | 14277 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities | 494718 | 487627 | 482124 | 478935 | 471970 |
| **Shareholders' Equity:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Preferred stock | 6673 | 6673 | 6673 | 6673 | 6673 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Common stock | 6634 | 6634 | 6632 | 6657 | 6639 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Additional paid-in capital | 34544 | 34487 | 34410 | 34539 | 34565 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Retained earnings | 26264 | 25344 | 24500 | 23687 | 22998 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accumulated other comprehensive loss | (13601) | (12350) | (9240) | (6535) | (1604) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Noncontrolling interests | 23 | 23 | 24 | 23 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total shareholders' equity | 60537 | 60811 | 62999 | 65044 | 69271 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities and shareholders' equity | $555255 | $548438 | $545123 | $543979 | $541241 |

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Truist Financial Corporation 5

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Quarter Ended** | **Quarter Ended** | | **Year-to-Date** | **Year-to-Date** | |
| | **December 31** | **December 31** |<br>**Change** | **December 31** | **December 31** |<br>**Change** |
| **Average Balance Sheets**<br><br>**(Dollars in millions)** | **2022** | **2021** | $**%** | **2022** | **2021** | $**%** |
| **Assets** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Securities at amortized cost (1): |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury | $10989 | $9891 | 11.1% | $10591 | $7633 | 38.8% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;U.S. government-sponsored entities (GSE) | 325 | 1686 | (80.7) | 498 | 1799 | (72.3) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mortgage-backed securities issued by GSE | 126718 | 137651 | (7.9) | 131669 | 128306 | 2.6 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;States and political subdivisions | 426 | 410 | 3.9 | 392 | 429 | (8.6) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Non-agency mortgage-backed | 3953 | 3738 | 5.8 | 4072 | 1299 | NM |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other | 22 | 29 | (24.1) | 44 | 31 | 41.9 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total securities | 142433 | 153405 | (7.2) | 147266 | 139497 | 5.6 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Loans and leases: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commercial: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commercial and industrial | 159308 | 134804 | 18.2 | 149030 | 137304 | 8.5 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CRE | 22497 | 24396 | (7.8) | 22697 | 25269 | (10.2) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commercial construction | 5711 | 5341 | 6.9 | 5326 | 6053 | (12.0) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Residential mortgage | 56292 | 47185 | 19.3 | 51721 | 45500 | 13.7 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Residential home equity and direct | 25518 | 25146 | 1.5 | 25232 | 25319 | (0.3) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indirect auto | 28117 | 26841 | 4.8 | 27197 | 26621 | 2.2 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indirect other | 12848 | 10978 | 17.0 | 11876 | 10935 | 8.6 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Student | 5533 | 6884 | (19.6) | 6114 | 7251 | (15.7) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Credit card | 4842 | 4769 | 1.5 | 4753 | 4650 | 2.2 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total loans and leases held for investment | 320666 | 286344 | 12.0 | 303946 | 288902 | 5.2 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Loans held for sale | 2067 | 4730 | (56.3) | 2889 | 4546 | (36.4) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total loans and leases | 322733 | 291074 | 10.9 | 306835 | 293448 | 4.6 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest earning trading assets | 5717 | 6772 | (15.6) | 5767 | 5602 | 2.9 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other earning assets | 21922 | 19634 | 11.7 | 20429 | 19498 | 4.8 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total earning assets | 492805 | 470885 | 4.7 | 480297 | 458045 | 4.9 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nonearning assets | 60154 | 64026 | (6.0) | 63533 | 64340 | (1.3) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total assets | $552959 | $534911 | 3.4% | $543830 | $522385 | 4.1% |
| **Liabilities and Shareholders' Equity** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deposits: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Noninterest-bearing deposits | $141032 | $146492 | (3.7)% | $145392 | $138733 | 4.8% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest checking | 110001 | 110506 | (0.5) | 111539 | 107311 | 3.9 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Money market and savings | 144730 | 137676 | 5.1 | 145645 | 134303 | 8.4 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Time deposits | 17513 | 16292 | 7.5 | 15514 | 18025 | (13.9) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total deposits | 413276 | 410966 | 0.6 | 418090 | 398372 | 4.9 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Short-term borrowings | 25640 | 6433 | NM | 14957 | 6170 | 142.4 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Long-term debt | 38700 | 37623 | 2.9 | 34172 | 37410 | (8.7) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other liabilities | 13824 | 11409 | 21.2 | 12794 | 11300 | 13.2 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities | 491440 | 466431 | 5.4 | 480013 | 453252 | 5.9 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shareholders' equity | 61519 | 68480 | (10.2) | 63817 | 69133 | (7.7) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities and shareholders' equity | $552959 | $534911 | 3.4% | $543830 | $522385 | 4.1% |
| Average balances exclude basis adjustments for fair value hedges. | Average balances exclude basis adjustments for fair value hedges. | Average balances exclude basis adjustments for fair value hedges. | Average balances exclude basis adjustments for fair value hedges. |  |  |  |
| (1) Includes AFS and HTM securities. |  |  |  |  |  |  |
| NM - not meaningful | NM - not meaningful | NM - not meaningful | NM - not meaningful |  |  |  |

---

6 Truist Financial Corporation

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** |
| **Average Balance Sheets - Five Quarter Trend**<br><br>**(Dollars in millions)** | **Dec. 31**<br>**2022** | **Sept. 30**<br>**2022** | **June 30**<br>**2022** | **March 31**<br>**2022** | **Dec. 31**<br>**2021** |
| **Assets** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Securities at amortized cost (1): |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury | $10989 | $10925 | $10544 | $9890 | $9891 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;U.S. government-sponsored entities (GSE) | 325 | 305 | 255 | 1120 | 1686 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mortgage-backed securities issued by GSE | 126718 | 129703 | 133339 | 137052 | 137651 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;States and political subdivisions | 426 | 395 | 371 | 374 | 410 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Non-agency mortgage-backed | 3953 | 4016 | 4097 | 4224 | 3738 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other | 22 | 52 | 75 | 27 | 29 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total securities | 142433 | 145396 | 148681 | 152687 | 153405 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Loans and leases: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commercial: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commercial and industrial | 159308 | 152123 | 145558 | 138872 | 134804 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CRE | 22497 | 22245 | 22508 | 23555 | 24396 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commercial construction | 5711 | 5284 | 5256 | 5046 | 5341 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Residential mortgage | 56292 | 53271 | 49237 | 47976 | 47185 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Residential home equity and direct | 25518 | 25394 | 25124 | 24883 | 25146 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indirect auto | 28117 | 28057 | 26496 | 26088 | 26841 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indirect other | 12848 | 12300 | 11471 | 10860 | 10978 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Student | 5533 | 5958 | 6331 | 6648 | 6884 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Credit card | 4842 | 4755 | 4728 | 4682 | 4769 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total loans and leases held for investment | 320666 | 309387 | 296709 | 288610 | 286344 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Loans held for sale | 2067 | 2489 | 3152 | 3874 | 4730 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total loans and leases | 322733 | 311876 | 299861 | 292484 | 291074 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest earning trading assets | 5717 | 5446 | 6073 | 5837 | 6772 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other earning assets | 21922 | 19631 | 21203 | 18932 | 19634 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total earning assets | 492805 | 482349 | 475818 | 469940 | 470885 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nonearning assets | 60154 | 63257 | 64750 | 66041 | 64026 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total assets | $552959 | $545606 | $540568 | $535981 | $534911 |
| **Liabilities and Shareholders' Equity** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deposits: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Noninterest-bearing deposits | $141032 | $146041 | $148610 | $145933 | $146492 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest checking | 110001 | 111645 | 112375 | 112159 | 110506 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Money market and savings | 144730 | 147659 | 148632 | 141500 | 137676 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Time deposits | 17513 | 14751 | 14133 | 15646 | 16292 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total deposits | 413276 | 420096 | 423750 | 415238 | 410966 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Short-term borrowings | 25640 | 17392 | 9618 | 6944 | 6433 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Long-term debt | 38700 | 31381 | 31263 | 35337 | 37623 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other liabilities | 13824 | 13227 | 12437 | 11664 | 11409 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities | 491440 | 482096 | 477068 | 469183 | 466431 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shareholders' equity | 61519 | 63510 | 63500 | 66798 | 68480 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities and shareholders' equity | $552959 | $545606 | $540568 | $535981 | $534911 |
| Average balances exclude basis adjustments for fair value hedges. | Average balances exclude basis adjustments for fair value hedges. | Average balances exclude basis adjustments for fair value hedges. | Average balances exclude basis adjustments for fair value hedges. | Average balances exclude basis adjustments for fair value hedges. | Average balances exclude basis adjustments for fair value hedges. |
| (1) Includes AFS and HTM securities. |  |  |  |  |  |

---

Truist Financial Corporation 7

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Average Balances and Rates - Quarters** | | | | | | |
| | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** |
| | **December 31, 2022** | **December 31, 2022** | **December 31, 2022** | **September 30, 2022** | **September 30, 2022** | **September 30, 2022** |
|  | **(1)** | **(2) Interest** | **(2)** | **(1)** | **(2) Interest** | **(2)** |
|  | **Average** | **Income/** | **Yields/** | **Average** | **Income/** | **Yields/** |
| **(Dollars in millions)** | **Balances** | **Expense** | **Rates** | **Balances** | **Expense** | **Rates** |
| **Assets** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Securities at amortized cost (3): |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury | 10989 | 27 | 0.98% | 10925 | 26 | 0.93% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;U.S. government-sponsored entities (GSE) | 325 | 3 | 2.47 | 305 | 1 | 2.56 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mortgage-backed securities issued by GSE | 126718 | 682 | 2.16 | 129703 | 655 | 2.02 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;States and political subdivisions | 426 | 4 | 4.03 | 395 | 4 | 3.92 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Non-agency mortgage-backed | 3953 | 23 | 2.33 | 4016 | 24 | 2.32 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other | 22 | 1 | 4.44 | 52 |  | 3.94 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total securities | 142433 | 740 | 2.08 | 145396 | 710 | 1.95 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Loans and leases: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commercial: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commercial and industrial | 159308 | 2098 | 5.23 | 152123 | 1564 | 4.08 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CRE | 22497 | 314 | 5.51 | 22245 | 245 | 4.32 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commercial construction | 5711 | 88 | 6.25 | 5284 | 62 | 4.83 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Residential mortgage | 56292 | 514 | 3.65 | 53271 | 478 | 3.59 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Residential home equity and direct | 25518 | 402 | 6.25 | 25394 | 361 | 5.64 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indirect auto | 28117 | 396 | 5.59 | 28057 | 382 | 5.40 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indirect other | 12848 | 209 | 6.46 | 12300 | 200 | 6.46 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Student | 5533 | 90 | 6.42 | 5958 | 85 | 5.64 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Credit card | 4842 | 127 | 10.38 | 4755 | 119 | 9.97 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total loans and leases held for investment | 320666 | 4238 | 5.25 | 309387 | 3496 | 4.49 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Loans held for sale | 2067 | 31 | 6.08 | 2489 | 30 | 4.81 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total loans and leases | 322733 | 4269 | 5.26 | 311876 | 3526 | 4.49 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest earning trading assets | 5717 | 79 | 5.60 | 5446 | 62 | 4.49 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other earning assets | 21922 | 200 | 3.60 | 19631 | 109 | 2.24 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total earning assets | 492805 | 5288 | 4.27 | 482349 | 4407 | 3.63 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nonearning assets | 60154 |  |  | 63257 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total assets | 552959 |  |  | 545606 |  |  |
| **Liabilities and Shareholders' Equity** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest-bearing deposits: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest checking | 110001 | 304 | 1.10 | 111645 | 158 | 0.56 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Money market and savings | 144730 | 316 | 0.87 | 147659 | 159 | 0.43 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Time deposits | 17513 | 63 | 1.42 | 14751 | 14 | 0.40 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total interest-bearing deposits (4) | 272244 | 683 | 1.00 | 274055 | 331 | 0.48 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Short-term borrowings | 25640 | 242 | 3.75 | 17392 | 103 | 2.34 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Long-term debt | 38700 | 332 | 3.42 | 31381 | 190 | 2.43 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total interest-bearing liabilities | 336584 | 1257 | 1.48 | 322828 | 624 | 0.77 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Noninterest-bearing deposits (4) | 141032 |  |  | 146041 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other liabilities | 13824 |  |  | 13227 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shareholders' equity | 61519 |  |  | 63510 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities and shareholders' equity | 552959 |  |  | 545606 |  |  |
| Average interest-rate spread |  |  | 2.79 |  |  | 2.86 |
| Net interest income/ net interest margin - taxable equivalent |  | 4031 | 3.25% |  | 3783 | 3.12% |
| Taxable-equivalent adjustment |  | 50 |  |  | 38 |  |
| Applicable ratios are annualized. |  |  |  |  |  |  |
| (1) Excludes basis adjustments for fair value hedges. | (1) Excludes basis adjustments for fair value hedges. | (1) Excludes basis adjustments for fair value hedges. | (1) Excludes basis adjustments for fair value hedges. | (1) Excludes basis adjustments for fair value hedges. | (1) Excludes basis adjustments for fair value hedges. | (1) Excludes basis adjustments for fair value hedges. |
| (2) Amounts are on a taxable-equivalent basis utilizing the federal income tax rate of 21% for the periods presented. Interest income includes certain fees, deferred costs, and dividends. | (2) Amounts are on a taxable-equivalent basis utilizing the federal income tax rate of 21% for the periods presented. Interest income includes certain fees, deferred costs, and dividends. | (2) Amounts are on a taxable-equivalent basis utilizing the federal income tax rate of 21% for the periods presented. Interest income includes certain fees, deferred costs, and dividends. | (2) Amounts are on a taxable-equivalent basis utilizing the federal income tax rate of 21% for the periods presented. Interest income includes certain fees, deferred costs, and dividends. | (2) Amounts are on a taxable-equivalent basis utilizing the federal income tax rate of 21% for the periods presented. Interest income includes certain fees, deferred costs, and dividends. | (2) Amounts are on a taxable-equivalent basis utilizing the federal income tax rate of 21% for the periods presented. Interest income includes certain fees, deferred costs, and dividends. | (2) Amounts are on a taxable-equivalent basis utilizing the federal income tax rate of 21% for the periods presented. Interest income includes certain fees, deferred costs, and dividends. |
| (3) Includes AFS and HTM securities. | (3) Includes AFS and HTM securities. | (3) Includes AFS and HTM securities. | (3) Includes AFS and HTM securities. | (3) Includes AFS and HTM securities. | (3) Includes AFS and HTM securities. | (3) Includes AFS and HTM securities. |
| (4) Total deposit costs were 0.66% and 0.31% for the three months ended December 31, 2022 and September 30, 2022, respectively. | (4) Total deposit costs were 0.66% and 0.31% for the three months ended December 31, 2022 and September 30, 2022, respectively. | (4) Total deposit costs were 0.66% and 0.31% for the three months ended December 31, 2022 and September 30, 2022, respectively. | (4) Total deposit costs were 0.66% and 0.31% for the three months ended December 31, 2022 and September 30, 2022, respectively. | (4) Total deposit costs were 0.66% and 0.31% for the three months ended December 31, 2022 and September 30, 2022, respectively. | (4) Total deposit costs were 0.66% and 0.31% for the three months ended December 31, 2022 and September 30, 2022, respectively. | (4) Total deposit costs were 0.66% and 0.31% for the three months ended December 31, 2022 and September 30, 2022, respectively. |

---

8 Truist Financial Corporation

------

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Average Balances and Rates - Quarters** | **Average Balances and Rates - Quarters** | **Average Balances and Rates - Quarters** | **Average Balances and Rates - Quarters** | **Average Balances and Rates - Quarters** | **Average Balances and Rates - Quarters** | **Average Balances and Rates - Quarters** | **Average Balances and Rates - Quarters** | **Average Balances and Rates - Quarters** | **Average Balances and Rates - Quarters** |
| | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** |
| | **June 30, 2022** | **June 30, 2022** | **June 30, 2022** | **March 31, 2022** | **March 31, 2022** | **March 31, 2022** | **December 31, 2021** | **December 31, 2021** | **December 31, 2021** |
|  | **(1)** | **(2) Interest** | **(2)** | **(1)** | **(2) Interest** | **(2)** | **(1)** | **(2) Interest** | **(2)** |
|  | **Average** | **Income/** | **Yields/** | **Average** | **Income/** | **Yields/** | **Average** | **Income/** | **Yields/** |
| **(Dollars in millions)** | **Balances** | **Expense** | **Rates** | **Balances** | **Expense** | **Rates** | **Balances** | **Expense** | **Rates** |
| **Assets** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Securities at amortized cost (3): |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury | 10544 | 22 | 0.86% | 9890 | 18 | 0.72% | 9891 | 18 | 0.72% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;U.S. government-sponsored entities (GSE) | 255 | 1 | 1.96 | 1120 | 6 | 2.13 | 1686 | 9 | 2.20 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mortgage-backed securities issued by GSE | 133339 | 625 | 1.88 | 137052 | 590 | 1.72 | 137651 | 552 | 1.60 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;States and political subdivisions | 371 | 4 | 3.83 | 374 | 3 | 3.72 | 410 | 3 | 3.60 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Non-agency mortgage-backed | 4097 | 23 | 2.30 | 4224 | 24 | 2.25 | 3738 | 20 | 2.23 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other | 75 | 1 | 3.66 | 27 |  | 2.04 | 29 | 1 | 1.90 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total securities | 148681 | 676 | 1.82 | 152687 | 641 | 1.68 | 153405 | 603 | 1.57 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Loans and leases: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commercial: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commercial and industrial | 145558 | 1174 | 3.24 | 138872 | 987 | 2.88 | 134804 | 986 | 2.90 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CRE | 22508 | 193 | 3.41 | 23555 | 168 | 2.84 | 24396 | 175 | 2.81 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commercial construction | 5256 | 43 | 3.46 | 5046 | 35 | 3.05 | 5341 | 38 | 2.96 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Residential mortgage | 49237 | 440 | 3.58 | 47976 | 428 | 3.57 | 47185 | 453 | 3.84 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Residential home equity and direct | 25124 | 329 | 5.25 | 24883 | 330 | 5.38 | 25146 | 352 | 5.55 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indirect auto | 26496 | 362 | 5.47 | 26088 | 357 | 5.56 | 26841 | 389 | 5.75 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indirect other | 11471 | 180 | 6.27 | 10860 | 169 | 6.32 | 10978 | 176 | 6.42 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Student | 6331 | 66 | 4.20 | 6648 | 63 | 3.86 | 6884 | 70 | 4.07 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Credit card | 4728 | 105 | 8.91 | 4682 | 104 | 8.97 | 4769 | 105 | 8.69 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total loans and leases held for investment | 296709 | 2892 | 3.91 | 288610 | 2641 | 3.70 | 286344 | 2744 | 3.81 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Loans held for sale | 3152 | 33 | 4.20 | 3874 | 28 | 2.87 | 4730 | 32 | 2.66 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total loans and leases | 299861 | 2925 | 3.91 | 292484 | 2669 | 3.69 | 291074 | 2776 | 3.79 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest earning trading assets | 6073 | 55 | 3.55 | 5837 | 43 | 3.04 | 6772 | 46 | 2.72 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other earning assets | 21203 | 45 | 0.85 | 18932 | 30 | 0.63 | 19634 | 10 | 0.20 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total earning assets | 475818 | 3701 | 3.12 | 469940 | 3383 | 2.90 | 470885 | 3435 | 2.90 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nonearning assets | 64750 |  |  | 66041 |  |  | 64026 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total assets | 540568 |  |  | 535981 |  |  | 534911 |  |  |
| **Liabilities and Shareholders' Equity** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest-bearing deposits: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest checking | 112375 | 43 | 0.15 | 112159 | 14 | 0.05 | 110506 | 15 | 0.05 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Money market and savings | 148632 | 50 | 0.13 | 141500 | 11 | 0.03 | 137676 | 8 | 0.03 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Time deposits | 14133 | 6 | 0.17 | 15646 | 7 | 0.18 | 16292 | 9 | 0.21 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total interest-bearing deposits (4) | 275140 | 99 | 0.14 | 269305 | 32 | 0.05 | 264474 | 32 | 0.05 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Short-term borrowings | 9618 | 30 | 1.26 | 6944 | 10 | 0.60 | 6433 | 9 | 0.55 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Long-term debt | 31263 | 137 | 1.75 | 35337 | 132 | 1.50 | 37623 | 127 | 1.35 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total interest-bearing liabilities | 316021 | 266 | 0.34 | 311586 | 174 | 0.22 | 308530 | 168 | 0.22 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Noninterest-bearing deposits (4) | 148610 |  |  | 145933 |  |  | 146492 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other liabilities | 12437 |  |  | 11664 |  |  | 11409 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shareholders' equity | 63500 |  |  | 66798 |  |  | 68480 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities and shareholders' equity | 540568 |  |  | 535981 |  |  | 534911 |  |  |
| Average interest-rate spread |  |  | 2.78 |  |  | 2.68 |  |  | 2.68 |
| Net interest income/ net interest margin - taxable equivalent |  | 3435 | 2.89% |  | 3209 | 2.76% |  | 3267 | 2.76% |
| Taxable-equivalent adjustment |  | 28 |  |  | 26 |  |  | 24 |  |
| Applicable ratios are annualized. |  |  |  |  |  |  |  |  |  |
| (1) Excludes basis adjustments for fair value hedges. | (1) Excludes basis adjustments for fair value hedges. | (1) Excludes basis adjustments for fair value hedges. | (1) Excludes basis adjustments for fair value hedges. | (1) Excludes basis adjustments for fair value hedges. | (1) Excludes basis adjustments for fair value hedges. | (1) Excludes basis adjustments for fair value hedges. | (1) Excludes basis adjustments for fair value hedges. | (1) Excludes basis adjustments for fair value hedges. | (1) Excludes basis adjustments for fair value hedges. |
| (2) Amounts are on a taxable-equivalent basis utilizing the federal income tax rate of 21% for the periods presented. Interest income includes certain fees, deferred costs, and dividends. | (2) Amounts are on a taxable-equivalent basis utilizing the federal income tax rate of 21% for the periods presented. Interest income includes certain fees, deferred costs, and dividends. | (2) Amounts are on a taxable-equivalent basis utilizing the federal income tax rate of 21% for the periods presented. Interest income includes certain fees, deferred costs, and dividends. | (2) Amounts are on a taxable-equivalent basis utilizing the federal income tax rate of 21% for the periods presented. Interest income includes certain fees, deferred costs, and dividends. | (2) Amounts are on a taxable-equivalent basis utilizing the federal income tax rate of 21% for the periods presented. Interest income includes certain fees, deferred costs, and dividends. | (2) Amounts are on a taxable-equivalent basis utilizing the federal income tax rate of 21% for the periods presented. Interest income includes certain fees, deferred costs, and dividends. | (2) Amounts are on a taxable-equivalent basis utilizing the federal income tax rate of 21% for the periods presented. Interest income includes certain fees, deferred costs, and dividends. | (2) Amounts are on a taxable-equivalent basis utilizing the federal income tax rate of 21% for the periods presented. Interest income includes certain fees, deferred costs, and dividends. | (2) Amounts are on a taxable-equivalent basis utilizing the federal income tax rate of 21% for the periods presented. Interest income includes certain fees, deferred costs, and dividends. | (2) Amounts are on a taxable-equivalent basis utilizing the federal income tax rate of 21% for the periods presented. Interest income includes certain fees, deferred costs, and dividends. |
| (3) Includes AFS and HTM securities. | (3) Includes AFS and HTM securities. | (3) Includes AFS and HTM securities. | (3) Includes AFS and HTM securities. | (3) Includes AFS and HTM securities. | (3) Includes AFS and HTM securities. | (3) Includes AFS and HTM securities. | (3) Includes AFS and HTM securities. | (3) Includes AFS and HTM securities. | (3) Includes AFS and HTM securities. |
| (4) Total deposit costs were 0.09%, 0.03%, and 0.03% for the three months ended June 30, 2022, March 31, 2022, and December 31, 2021, respectively. | (4) Total deposit costs were 0.09%, 0.03%, and 0.03% for the three months ended June 30, 2022, March 31, 2022, and December 31, 2021, respectively. | (4) Total deposit costs were 0.09%, 0.03%, and 0.03% for the three months ended June 30, 2022, March 31, 2022, and December 31, 2021, respectively. | (4) Total deposit costs were 0.09%, 0.03%, and 0.03% for the three months ended June 30, 2022, March 31, 2022, and December 31, 2021, respectively. | (4) Total deposit costs were 0.09%, 0.03%, and 0.03% for the three months ended June 30, 2022, March 31, 2022, and December 31, 2021, respectively. | (4) Total deposit costs were 0.09%, 0.03%, and 0.03% for the three months ended June 30, 2022, March 31, 2022, and December 31, 2021, respectively. | (4) Total deposit costs were 0.09%, 0.03%, and 0.03% for the three months ended June 30, 2022, March 31, 2022, and December 31, 2021, respectively. | (4) Total deposit costs were 0.09%, 0.03%, and 0.03% for the three months ended June 30, 2022, March 31, 2022, and December 31, 2021, respectively. | (4) Total deposit costs were 0.09%, 0.03%, and 0.03% for the three months ended June 30, 2022, March 31, 2022, and December 31, 2021, respectively. | (4) Total deposit costs were 0.09%, 0.03%, and 0.03% for the three months ended June 30, 2022, March 31, 2022, and December 31, 2021, respectively. |

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Truist Financial Corporation 9

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Average Balances and Rates - Year-To-Date** | | | | | | |
| | **Year-to-Date** | **Year-to-Date** | **Year-to-Date** | **Year-to-Date** | **Year-to-Date** | **Year-to-Date** |
| | **December 31, 2022** | **December 31, 2022** | **December 31, 2022** | **December 31, 2021** | **December 31, 2021** | **December 31, 2021** |
|  | **(1)** | **(2) Interest** | **(2)** | **(1)** | **(2) Interest** | **(2)** |
|  | **Average** | **Income/** | **Yields/** | **Average** | **Income/** | **Yields/** |
| **(Dollars in millions)** | **Balances** | **Expense** | **Rates** | **Balances** | **Expense** | **Rates** |
| **Assets** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Securities at amortized cost (3): |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury | 10591 | 93 | 0.88% | 7633 | 56 | 0.73% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;U.S. government-sponsored entities (GSE) | 498 | 11 | 2.24 | 1799 | 41 | 2.29 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mortgage-backed securities issued by GSE | 131669 | 2552 | 1.94 | 128306 | 1953 | 1.52 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;States and political subdivisions | 392 | 15 | 3.88 | 429 | 15 | 3.55 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Non-agency mortgage-backed | 4072 | 94 | 2.30 | 1299 | 28 | 2.20 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other | 44 | 2 | 3.60 | 31 | 1 | 1.90 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total securities | 147266 | 2767 | 1.88 | 139497 | 2094 | 1.50 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Loans and leases: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commercial: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commercial and industrial | 149030 | 5823 | 3.91 | 137304 | 4174 | 3.04 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CRE | 22697 | 920 | 4.01 | 25269 | 728 | 2.85 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commercial construction | 5326 | 228 | 4.46 | 6053 | 173 | 2.98 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Residential mortgage | 51721 | 1860 | 3.60 | 45500 | 1884 | 4.14 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Residential home equity and direct | 25232 | 1422 | 5.64 | 25319 | 1441 | 5.69 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indirect auto | 27197 | 1497 | 5.50 | 26621 | 1629 | 6.12 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indirect other | 11876 | 758 | 6.39 | 10935 | 731 | 6.70 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Student | 6114 | 304 | 4.97 | 7251 | 289 | 3.99 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Credit card | 4753 | 455 | 9.57 | 4650 | 415 | 8.92 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total loans and leases held for investment | 303946 | 13267 | 4.36 | 288902 | 11464 | 3.97 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Loans held for sale | 2889 | 122 | 4.23 | 4546 | 120 | 2.63 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total loans and leases | 306835 | 13389 | 4.36 | 293448 | 11584 | 3.95 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest earning trading assets | 5767 | 239 | 4.15 | 5602 | 156 | 2.78 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other earning assets | 20429 | 384 | 1.88 | 19498 | 48 | 0.24 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total earning assets | 480297 | 16779 | 3.49 | 458045 | 13882 | 3.03 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nonearning assets | 63533 |  |  | 64340 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total assets | 543830 |  |  | 522385 |  |  |
| **Liabilities and Shareholders' Equity** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest-bearing deposits: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest checking | 111539 | 519 | 0.47 | 107311 | 59 | 0.05 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Money market and savings | 145645 | 536 | 0.37 | 134303 | 35 | 0.03 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Time deposits | 15514 | 90 | 0.58 | 18025 | 54 | 0.30 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total interest-bearing deposits (4) | 272698 | 1145 | 0.42 | 259639 | 148 | 0.06 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Short-term borrowings | 14957 | 385 | 2.58 | 6170 | 47 | 0.76 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Long-term debt | 34172 | 791 | 2.31 | 37410 | 573 | 1.53 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total interest-bearing liabilities | 321827 | 2321 | 0.72 | 303219 | 768 | 0.25 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Noninterest-bearing deposits (4) | 145392 |  |  | 138733 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other liabilities | 12794 |  |  | 11300 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shareholders' equity | 63817 |  |  | 69133 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities and shareholders' equity | 543830 |  |  | 522385 |  |  |
| Average interest-rate spread |  |  | 2.77 |  |  | 2.78 |
| Net interest income/ net interest margin - taxable equivalent |  | 14458 | 3.01% |  | 13114 | 2.86% |
| Taxable-equivalent adjustment |  | 142 |  |  | 108 |  |
| Applicable ratios are annualized. |  |  |  |  |  |  |
| (1) Excludes basis adjustments for fair value hedges. | (1) Excludes basis adjustments for fair value hedges. | (1) Excludes basis adjustments for fair value hedges. | (1) Excludes basis adjustments for fair value hedges. | (1) Excludes basis adjustments for fair value hedges. | (1) Excludes basis adjustments for fair value hedges. | (1) Excludes basis adjustments for fair value hedges. |
| (2) Amounts are on a taxable-equivalent basis utilizing the federal income tax rate of 21% for the periods presented. Interest income includes certain fees, deferred costs, and dividends. | (2) Amounts are on a taxable-equivalent basis utilizing the federal income tax rate of 21% for the periods presented. Interest income includes certain fees, deferred costs, and dividends. | (2) Amounts are on a taxable-equivalent basis utilizing the federal income tax rate of 21% for the periods presented. Interest income includes certain fees, deferred costs, and dividends. | (2) Amounts are on a taxable-equivalent basis utilizing the federal income tax rate of 21% for the periods presented. Interest income includes certain fees, deferred costs, and dividends. | (2) Amounts are on a taxable-equivalent basis utilizing the federal income tax rate of 21% for the periods presented. Interest income includes certain fees, deferred costs, and dividends. | (2) Amounts are on a taxable-equivalent basis utilizing the federal income tax rate of 21% for the periods presented. Interest income includes certain fees, deferred costs, and dividends. | (2) Amounts are on a taxable-equivalent basis utilizing the federal income tax rate of 21% for the periods presented. Interest income includes certain fees, deferred costs, and dividends. |
| (3) Includes AFS and HTM securities. | (3) Includes AFS and HTM securities. | (3) Includes AFS and HTM securities. | (3) Includes AFS and HTM securities. | (3) Includes AFS and HTM securities. | (3) Includes AFS and HTM securities. | (3) Includes AFS and HTM securities. |
| (4) Total deposit costs were 0.27% and 0.04% for the year ended December 31, 2022 and 2021, respectively. | (4) Total deposit costs were 0.27% and 0.04% for the year ended December 31, 2022 and 2021, respectively. | (4) Total deposit costs were 0.27% and 0.04% for the year ended December 31, 2022 and 2021, respectively. | (4) Total deposit costs were 0.27% and 0.04% for the year ended December 31, 2022 and 2021, respectively. | (4) Total deposit costs were 0.27% and 0.04% for the year ended December 31, 2022 and 2021, respectively. | (4) Total deposit costs were 0.27% and 0.04% for the year ended December 31, 2022 and 2021, respectively. | (4) Total deposit costs were 0.27% and 0.04% for the year ended December 31, 2022 and 2021, respectively. |

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10 Truist Financial Corporation

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Credit Quality**<br>**(Dollars in millions)** |<br>**Dec. 31**<br>**2022** |<br>**Sept. 30**<br>**2022** |<br>**June 30**<br>**2022** |<br>**March 31**<br>**2022** |<br>**Dec. 31**<br>**2021** |
| **Nonperforming Assets** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nonaccrual loans and leases: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commercial: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commercial and industrial | $398 | $443 | $393 | $330 | $394 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CRE | 82 | 5 | 19 | 27 | 29 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commercial construction |  |  |  |  | 7 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Residential mortgage | 240 | 227 | 269 | 315 | 296 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Residential home equity and direct | 173 | 166 | 159 | 141 | 141 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indirect auto | 289 | 260 | 244 | 227 | 218 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indirect other | 6 | 5 | 6 | 4 | 5 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total nonaccrual loans and leases held for investment | 1188 | 1106 | 1090 | 1044 | 1090 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Loans held for sale |  | 72 | 33 | 39 | 22 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total nonaccrual loans and leases | 1188 | 1178 | 1123 | 1083 | 1112 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Foreclosed real estate | 4 | 4 | 3 | 3 | 8 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other foreclosed property | 58 | 58 | 47 | 49 | 43 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total nonperforming assets | $1250 | $1240 | $1173 | $1135 | $1163 |
| **Troubled Debt Restructurings (TDRs)** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Performing TDRs: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commercial: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commercial and industrial | $136 | $165 | $105 | $104 | $147 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CRE | 5 | 5 | 5 | 5 | 5 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commercial construction | 1 | 1 | 1 | 1 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Residential mortgage - government guaranteed | 917 | 839 | 761 | 622 | 480 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Residential mortgage - nonguaranteed | 335 | 305 | 281 | 244 | 212 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Residential home equity and direct | 76 | 78 | 84 | 91 | 98 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indirect auto | 462 | 425 | 401 | 392 | 389 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indirect other | 6 | 7 | 6 | 6 | 7 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Student - nonguaranteed | 30 | 29 | 27 | 25 | 25 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Credit card | 18 | 19 | 22 | 25 | 27 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total performing TDRs | 1986 | 1873 | 1693 | 1515 | 1390 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nonperforming TDRs | 214 | 187 | 204 | 189 | 152 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total TDRs | $2200 | $2060 | $1897 | $1704 | $1542 |
| **Loans 90 Days or More Past Due and Still Accruing** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commercial: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commercial and industrial | $49 | $44 | $27 | $22 | $13 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CRE | 1 | 1 | 3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commercial construction |  |  | 3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Residential mortgage - government guaranteed | 759 | 808 | 884 | 996 | 978 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Residential mortgage - nonguaranteed | 27 | 26 | 27 | 31 | 31 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Residential home equity and direct | 15 | 12 | 10 | 12 | 9 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indirect auto | 1 | 1 | 1 | 1 | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indirect other | 10 | 6 | 3 | 2 | 3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Student - government guaranteed | 702 | 770 | 796 | 818 | 864 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Student - nonguaranteed | 4 | 5 | 5 | 4 | 4 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Credit card | 37 | 36 | 28 | 28 | 27 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total loans 90 days past due and still accruing | $1605 | $1709 | $1787 | $1914 | $1930 |
| **Loans 30-89 Days Past Due** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commercial: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commercial and industrial | $256 | $162 | $223 | $280 | $130 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CRE | 25 | 15 | 10 | 13 | 20 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commercial construction | 5 | 3 | 4 | 1 | 2 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Residential mortgage - government guaranteed | 268 | 234 | 233 | 216 | 256 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Residential mortgage - nonguaranteed | 346 | 300 | 302 | 326 | 258 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Residential home equity and direct | 127 | 122 | 156 | 142 | 107 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indirect auto | 646 | 591 | 584 | 529 | 607 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indirect other | 128 | 97 | 78 | 65 | 64 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Student - government guaranteed | 396 | 375 | 447 | 476 | 549 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Student - nonguaranteed | 6 | 6 | 6 | 6 | 6 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Credit card | 64 | 52 | 48 | 47 | 45 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total loans 30-89 days past due | $2267 | $1957 | $2091 | $2101 | $2044 |

---

Truist Financial Corporation 11

------

&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **As of/For the Quarter Ended** | **As of/For the Quarter Ended** | **As of/For the Quarter Ended** | **As of/For the Quarter Ended** | **As of/For the Quarter Ended** |
|<br>**(Dollars in millions)** | **Dec. 31**<br>**2022** | **Sept. 30**<br>**2022** | **June 30**<br>**2022** | **March 31**<br>**2022** | **Dec. 31**<br>**2021** |
| Allowance for Credit Losses |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Beginning balance | $4455 | $4434 | $4423 | $4695 | $4978 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Provision for credit losses | 467 | 234 | 171 | (95) | (103) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Charge-offs: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commercial: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commercial and industrial | (44) | (51) | (17) | (31) | (54) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CRE | (11) |  | (1) | (1) | (5) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commercial construction |  |  |  | (1) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Residential mortgage | (1) | (4) | (2) | (2) | (1) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Residential home equity and direct | (65) | (86) | (85) | (58) | (51) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indirect auto | (129) | (103) | (77) | (102) | (89) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indirect other | (37) | (26) | (18) | (19) | (16) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Student | (5) | (7) | (4) | (6) | (12) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Credit card | (53) | (42) | (40) | (41) | (37) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total charge-offs | (345) | (319) | (244) | (261) | (265) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Recoveries: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commercial: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commercial and industrial | 14 | 43 | 13 | 17 | 23 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CRE | 1 |  | 6 | 1 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commercial construction | 1 | 2 | 1 | 1 | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Residential mortgage | 3 | 3 | 4 | 6 | 2 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Residential home equity and direct | 18 | 23 | 20 | 20 | 21 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indirect auto | 21 | 21 | 26 | 23 | 21 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indirect other | 5 | 6 | 6 | 6 | 6 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Student | 1 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Credit card | 8 | 8 | 9 | 9 | 9 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total recoveries | 72 | 106 | 85 | 83 | 83 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net charge-offs | (273) | (213) | (159) | (178) | (182) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other |  |  | (1) | 1 | 2 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ending balance | $4649 | $4455 | $4434 | $4423 | $4695 |
| Allowance for Credit Losses: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Allowance for loan and lease losses | $4377 | $4205 | $4187 | $4170 | $4435 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reserve for unfunded lending commitments (RUFC) | 272 | 250 | 247 | 253 | 260 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Allowance for credit losses | $4649 | $4455 | $4434 | $4423 | $4695 |

---

12 Truist Financial Corporation

------

---

| | | |
|:---|:---|:---|
| | **As of/For the Year-to-Date** | **As of/For the Year-to-Date** |
| | **Period Ended Dec. 31** | **Period Ended Dec. 31** |
|<br>**(Dollars in millions)** | **2022** | **2021** |
| Allowance for Credit Losses |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Beginning balance | $4695 | $6199 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Provision for credit losses | 777 | (813) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Charge-offs: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commercial: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commercial and industrial | (143) | (243) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CRE | (13) | (10) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commercial construction | (1) | (2) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Residential mortgage | (9) | (23) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Residential home equity and direct | (294) | (214) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indirect auto | (411) | (336) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indirect other | (100) | (57) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Student | (22) | (24) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Credit card | (176) | (150) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total charge-offs | (1169) | (1059) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Recoveries: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commercial: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commercial and industrial | 87 | 107 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CRE | 8 | 6 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commercial construction | 5 | 4 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Residential mortgage | 16 | 12 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Residential home equity and direct | 81 | 79 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indirect auto | 91 | 92 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indirect other | 23 | 24 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Student | 1 | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Credit card | 34 | 37 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total recoveries | 346 | 362 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net charge-offs | (823) | (697) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other |  | 6 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ending balance | $4649 | $4695 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **As of/For the Quarter Ended** | **As of/For the Quarter Ended** | **As of/For the Quarter Ended** | **As of/For the Quarter Ended** | **As of/For the Quarter Ended** |
| | **Dec. 31**<br>**2022** | **Sept. 30**<br>**2022** | **June 30**<br>**2022** | **March 31**<br>**2022** | **Dec. 31**<br>**2021** |
| **Asset Quality Ratios** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Loans 30-89 days past due and still accruing as a percentage of loans and leases | 0.70% | 0.62% | 0.69% | 0.72% | 0.71% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Loans 90 days or more past due and still accruing as a percentage of loans and leases | 0.49 | 0.54 | 0.59 | 0.66 | 0.67 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nonperforming loans and leases as a percentage of loans and leases held for investment | 0.36 | 0.35 | 0.36 | 0.36 | 0.38 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nonperforming loans and leases as a percentage of loans and leases (1) | 0.36 | 0.37 | 0.37 | 0.37 | 0.38 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nonperforming assets as a percentage of: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total assets (1) | 0.23 | 0.23 | 0.22 | 0.21 | 0.21 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Loans and leases plus foreclosed property | 0.38 | 0.37 | 0.38 | 0.38 | 0.39 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net charge-offs as a percentage of average loans and leases | 0.34 | 0.27 | 0.22 | 0.25 | 0.25 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Allowance for loan and lease losses as a percentage of loans and leases | 1.34 | 1.34 | 1.38 | 1.44 | 1.53 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ratio of allowance for loan and lease losses to: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net charge-offs | 4.05X | 4.98X | 6.54X | 5.78X | 6.14X |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nonperforming loans and leases | 3.68X | 3.80X | 3.84X | 3.99X | 4.07X |
| **Asset Quality Ratios (Excluding PPP and other Government Guaranteed)** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Loans 90 days or more past due and still accruing as a percentage of loans and leases | 0.04% | 0.04% | 0.04% | 0.04% | 0.03% |
| Applicable ratios are annualized. |  |  |  |  |  |
| (1)Includes loans held for sale.  |  |  |  |  |  |
|  |  |  |  | **As of/For the Year-to-Date** | **As of/For the Year-to-Date** |
|  |  |  |  | **Period Ended Dec. 31** | **Period Ended Dec. 31** |
|  |  |  |  | **2022** | **2021** |
| **Asset Quality Ratios** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net charge-offs as a percentage of average loans and leases |  |  |  | 0.27% | 0.24% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ratio of allowance for loan and lease losses to net charge-offs |  |  |  | 5.32X | 6.36X |
| Applicable ratios are annualized. | Applicable ratios are annualized. | Applicable ratios are annualized. | Applicable ratios are annualized. | Applicable ratios are annualized. | Applicable ratios are annualized. |

---

Truist Financial Corporation 13

------

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| | **December 31, 2022** | **December 31, 2022** | **December 31, 2022** | **December 31, 2022** | **December 31, 2022** | **December 31, 2022** | **December 31, 2022** |
| | | | **Past Due 30-89** | **Past Due 30-89** | **Past Due 90+** | **Past Due 90+** | |
|<br>**(Dollars in millions)** | **Current Status** | **Current Status** | **Days** | **Days** | **Days** | **Days** |<br>**Total** |
| **Troubled Debt Restructurings** | | | | | | | |
| Performing TDRs: (1) |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commercial: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commercial and industrial | $135 | 99.3% | $1 | 0.7% | $— | —% | $136 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CRE | 5 | 100.0 |  |  |  |  | 5 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commercial construction | 1 | 100.0 |  |  |  |  | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Residential mortgage - government guaranteed | 496 | 54.1 | 111 | 12.1 | 310 | 33.8 | 917 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Residential mortgage - nonguaranteed | 294 | 87.7 | 31 | 9.3 | 10 | 3.0 | 335 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Residential home equity and direct | 71 | 93.4 | 5 | 6.6 |  |  | 76 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indirect auto | 389 | 84.2 | 73 | 15.8 |  |  | 462 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indirect other | 5 | 83.3 | 1 | 16.7 |  |  | 6 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Student - nonguaranteed | 27 | 90.0 | 2 | 6.7 | 1 | 3.3 | 30 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Credit card | 15 | 83.3 | 2 | 11.1 | 1 | 5.6 | 18 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total performing TDRs (1) | 1438 | 72.4 | 226 | 11.4 | 322 | 16.2 | 1986 |
| Nonperforming TDRs (2) | 90 | 42.0 | 32 | 15.0 | 92 | 43.0 | 214 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total TDRs (1)(2) | $1528 | 69.5% | $258 | 11.7% | $414 | 18.8% | $2200 |
| (1)Past due performing TDRs are included in past due disclosures. | (1)Past due performing TDRs are included in past due disclosures. | (1)Past due performing TDRs are included in past due disclosures. | (1)Past due performing TDRs are included in past due disclosures. | (1)Past due performing TDRs are included in past due disclosures. | (1)Past due performing TDRs are included in past due disclosures. | (1)Past due performing TDRs are included in past due disclosures. | (1)Past due performing TDRs are included in past due disclosures. |
| (2)Nonperforming TDRs are included in nonaccrual loan disclosures. | (2)Nonperforming TDRs are included in nonaccrual loan disclosures. | (2)Nonperforming TDRs are included in nonaccrual loan disclosures. | (2)Nonperforming TDRs are included in nonaccrual loan disclosures. | (2)Nonperforming TDRs are included in nonaccrual loan disclosures. | (2)Nonperforming TDRs are included in nonaccrual loan disclosures. | (2)Nonperforming TDRs are included in nonaccrual loan disclosures. | (2)Nonperforming TDRs are included in nonaccrual loan disclosures. |
|  |  |  | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** |
|  |  |  | **Dec. 31** | **Sept. 30** | **June 30** | **March 31** | **Dec. 31** |
|  |  |  | **2022** | **2022** | **2022** | **2022** | **2021** |
| **Net Charge-offs as a Percentage of Average Loans and Leases:** | **Net Charge-offs as a Percentage of Average Loans and Leases:** | **Net Charge-offs as a Percentage of Average Loans and Leases:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commercial: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commercial and industrial |  |  | 0.08% | 0.02% | 0.01% | 0.04% | 0.09% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CRE |  |  | 0.19 | (0.01) | (0.10) | 0.01 | 0.07 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commercial construction |  |  | (0.06) | (0.10) | (0.08) | (0.02) | (0.10) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consumer: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Residential mortgage |  |  | (0.02) | 0.01 | (0.02) | (0.03) | (0.02) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Residential home equity and direct |  |  | 0.71 | 1.01 | 1.04 | 0.61 | 0.49 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indirect auto |  |  | 1.52 | 1.15 | 0.77 | 1.23 | 1.01 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indirect other |  |  | 0.95 | 0.66 | 0.43 | 0.48 | 0.39 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Student |  |  | 0.34 | 0.40 | 0.30 | 0.33 | 0.65 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Credit card |  |  | 3.68 | 2.80 | 2.63 | 2.77 | 2.31 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total loans and leases |  |  | 0.34 | 0.27 | 0.22 | 0.25 | 0.25 |
| Applicable ratios are annualized. |  |  |  |  |  |  |  |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Rollforward of Intangible Assets and Selected Fair Value Marks (1)** | **Rollforward of Intangible Assets and Selected Fair Value Marks (1)** | **Rollforward of Intangible Assets and Selected Fair Value Marks (1)** | **Rollforward of Intangible Assets and Selected Fair Value Marks (1)** | **Rollforward of Intangible Assets and Selected Fair Value Marks (1)** | **Rollforward of Intangible Assets and Selected Fair Value Marks (1)** |
| | **As of/For the Quarter Ended** | **As of/For the Quarter Ended** | **As of/For the Quarter Ended** | **As of/For the Quarter Ended** | **As of/For the Quarter Ended** |
| **(Dollars in millions)** | **Dec. 31**<br>**2022** | **Sept. 30**<br>**2022** | **June 30**<br>**2022** | **March 31**<br>**2022** | **Dec. 31**<br>**2021** |
| **Loans and Leases (2)** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Beginning balance unamortized fair value mark | $(826) | $(924) | $(1119) | $(1323) | $(1540) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accretion | 80 | 96 | 189 | 191 | 217 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Purchase accounting adjustments and other activity | 5 | 2 | 6 | 13 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ending balance | $(741) | $(826) | $(924) | $(1119) | $(1323) |
| **Core deposit and other intangible assets** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Beginning balance | $3726 | $3535 | $3693 | $3408 | $2930 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Additions - acquisitions | 111 | 336 |  | 430 | 647 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amortization of intangibles (3) | (163) | (140) | (143) | (137) | (143) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amortization in net occupancy expense | (3) | (5) | (5) | (8) | (3) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Purchase accounting adjustments and other activity | 1 |  | (10) |  | (23) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ending balance | $3672 | $3726 | $3535 | $3693 | $3408 |
| **Deposits (4)** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Beginning balance unamortized fair value mark | $(1) | $(3) | $(5) | $(7) | $(9) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amortization | 1 | 2 | 2 | 2 | 2 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ending balance | $— | $(1) | $(3) | $(5) | $(7) |
| **Long-Term Debt (4)** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Beginning balance unamortized fair value mark | $(94) | $(109) | $(122) | $(139) | $(157) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amortization | 13 | 15 | 13 | 17 | 18 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ending balance | $(81) | $(94) | $(109) | $(122) | $(139) |

---

(1)Includes only selected information and does not represent all purchase accounting adjustments.

(2)Purchase accounting marks on loans and leases includes credit, interest and liquidity components, and are generally recognized using the level-yield or straight-line method over the remaining life of the individual loans or recognized in full in the event of prepayment.

(3)Includes $16 million partial write-down of an investment advisory intangible asset from a prior acquisition in 4Q22.

(4)Purchase accounting marks on liabilities represents interest rate marks on time deposits and long-term debt and are recognized using the level-yield method over the term of the liability.

14 Truist Financial Corporation

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---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** |
| **Segment Financial Performance - Preliminary**<br><br>**(Dollars in millions)** | **Dec. 31**<br>**2022** | **Sept. 30**<br>**2022** | **June 30**<br>**2022** | **March 31**<br>**2022** | **Dec. 31**<br>**2021** |
| **Consumer Banking and Wealth** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net interest income (expense) | $1728 | $1686 | $1567 | $1528 | $1629 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net intersegment interest income (expense) | 1226 | 970 | 718 | 657 | 651 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Segment net interest income | 2954 | 2656 | 2285 | 2185 | 2280 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Allocated provision for credit losses | 311 | 283 | 199 | 74 | 59 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Noninterest income | 846 | 836 | 831 | 910 | 955 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Noninterest expense | 1925 | 1930 | 1928 | 1886 | 1951 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Income (loss) before income taxes | 1564 | 1279 | 989 | 1135 | 1225 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Provision (benefit) for income taxes | 370 | 303 | 235 | 274 | 253 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Segment net income (loss) | $1194 | $976 | $754 | $861 | $972 |
| **Corporate and Commercial Banking** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net interest income (expense) | $2008 | $1601 | $1277 | $1094 | $1106 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net intersegment interest income (expense) | (172) | 24 | 68 | 173 | 207 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Segment net interest income | 1836 | 1625 | 1345 | 1267 | 1313 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Allocated provision for credit losses | 134 | (50) | (28) | (151) | (183) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Noninterest income | 675 | 644 | 687 | 655 | 822 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Noninterest expense | 834 | 817 | 804 | 778 | 821 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Income (loss) before income taxes | 1543 | 1502 | 1256 | 1295 | 1497 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Provision (benefit) for income taxes | 326 | 322 | 272 | 281 | 299 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Segment net income (loss) | $1217 | $1180 | $984 | $1014 | $1198 |
| **Insurance Holdings** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net interest income (expense) | $82 | $40 | $30 | $24 | $23 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net intersegment interest income (expense) | (36) | (7) | (2) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Segment net interest income | 46 | 33 | 28 | 24 | 23 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Allocated provision for credit losses | 5 | 1 | 1 |  | (1) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Noninterest income | 801 | 734 | 833 | 737 | 681 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Noninterest expense | 681 | 640 | 623 | 560 | 546 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Income (loss) before income taxes | 161 | 126 | 237 | 201 | 159 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Provision (benefit) for income taxes | 40 | 32 | 58 | 49 | 32 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Segment net income (loss) | $121 | $94 | $179 | $152 | $127 |
| **Other, Treasury & Corporate (1)** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net interest income (expense) | $163 | $418 | $533 | $537 | $485 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net intersegment interest income (expense) | (1018) | (987) | (784) | (830) | (858) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Segment net interest income | (855) | (569) | (251) | (293) | (373) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Allocated provision for credit losses | 17 |  | (1) | (18) | 22 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Noninterest income | (95) | (112) | (103) | (160) | (135) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Noninterest expense | 282 | 226 | 225 | 450 | 382 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Income (loss) before income taxes | (1249) | (907) | (578) | (885) | (912) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Provision (benefit) for income taxes | (399) | (294) | (193) | (274) | (217) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Segment net income (loss) | $(850) | $(613) | $(385) | $(611) | $(695) |
| **Total Truist Financial Corporation** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net interest income (expense) | $3981 | $3745 | $3407 | $3183 | $3243 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net intersegment interest income (expense) |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Segment net interest income | 3981 | 3745 | 3407 | 3183 | 3243 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Allocated provision for credit losses | 467 | 234 | 171 | (95) | (103) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Noninterest income | 2227 | 2102 | 2248 | 2142 | 2323 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Noninterest expense | 3722 | 3613 | 3580 | 3674 | 3700 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Income (loss) before income taxes | 2019 | 2000 | 1904 | 1746 | 1969 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Provision (benefit) for income taxes | 337 | 363 | 372 | 330 | 367 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net income | $1682 | $1637 | $1532 | $1416 | $1602 |
| (1) Includes financial data from subsidiaries below the quantitative and qualitative thresholds requiring disclosure. | (1) Includes financial data from subsidiaries below the quantitative and qualitative thresholds requiring disclosure. | (1) Includes financial data from subsidiaries below the quantitative and qualitative thresholds requiring disclosure. | (1) Includes financial data from subsidiaries below the quantitative and qualitative thresholds requiring disclosure. | (1) Includes financial data from subsidiaries below the quantitative and qualitative thresholds requiring disclosure. | (1) Includes financial data from subsidiaries below the quantitative and qualitative thresholds requiring disclosure. |

---

Truist Financial Corporation 15

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **As of/For the Quarter Ended** | **As of/For the Quarter Ended** | **As of/For the Quarter Ended** | **As of/For the Quarter Ended** | **As of/For the Quarter Ended** |
| **Capital Information - Five Quarter Trend**<br><br>**(Dollars in millions, except per share data, shares in thousands)** | **Dec. 31**<br>**2022** | **Sept. 30**<br>**2022** | **June 30**<br>**2022** | **March 31**<br>**2022** | **Dec. 31**<br>**2021** |
| **Selected Capital Information** | (preliminary) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Risk-based capital: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Common equity tier 1 | $39099 | $38277 | $38016 | $37225 | $37524 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tier 1 | 45769 | 44947 | 44686 | 43895 | 44194 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | 54073 | 53223 | 52186 | 51599 | 51518 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Risk-weighted assets | 433857 | 421489 | 413384 | 397855 | 390886 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Average quarterly assets for leverage ratio | 539689 | 526454 | 521113 | 512694 | 510404 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Average quarterly assets for supplementary leverage ratio | 629910 | 616368 | 608770 | 599415 | 595075 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Risk-based capital ratios: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Common equity tier 1 | 9.0% | 9.1% | 9.2% | 9.4% | 9.6% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tier 1 | 10.5 | 10.7 | 10.8 | 11.0 | 11.3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total | 12.5 | 12.6 | 12.6 | 13.0 | 13.2 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Leverage capital ratio | 8.5 | 8.5 | 8.6 | 8.6 | 8.7 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Supplementary leverage | 7.3 | 7.3 | 7.3 | 7.3 | 7.4 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Equity as a percentage of total assets | 10.9 | 11.1 | 11.6 | 12.0 | 12.8 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Common equity per common share | $40.58 | $40.79 | $42.45 | $43.82 | $47.14 |
|  | **Dec. 31** | **Sept. 30** | **June 30** | **March 31** | **Dec. 31** |
| **(Dollars in millions, except per share data, shares in thousands)** | **2022** | **2022** | **2022** | **2022** | **2021** |
| **Calculations of Tangible Common Equity and Related Measures: (1)** |  |  |  |  |  |
| Total shareholders' equity | $60537 | $60811 | $62999 | $65044 | $69271 |
| Less: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Preferred stock | 6673 | 6673 | 6673 | 6673 | 6673 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Noncontrolling interests | 23 | 23 | 24 | 23 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Intangible assets, net of deferred taxes | 29908 | 29752 | 29095 | 29229 | 28772 |
| Tangible common equity | $23933 | $24363 | $27207 | $29119 | $33826 |
| Outstanding shares at end of period (in thousands) | 1326829 | 1326766 | 1326393 | 1331414 | 1327818 |
| Tangible Common Equity Per Common Share | $18.04 | $18.36 | $20.51 | $21.87 | $25.47 |

---

(1)Tangible common equity and related measures are non-GAAP measures that exclude the impact of intangible assets, net of deferred taxes, and their related amortization. These measures are useful for evaluating the performance of a business consistently, whether acquired or developed internally. Truist's management uses these measures to assess profitability, returns relative to balance sheet risk, and shareholder value. These measures are not necessarily comparable to similar measures that may be presented by other companies.

16 Truist Financial Corporation

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Selected Mortgage Banking Information & Additional Information** | **Selected Mortgage Banking Information & Additional Information** | **Selected Mortgage Banking Information & Additional Information** | **Selected Mortgage Banking Information & Additional Information** | **Selected Mortgage Banking Information & Additional Information** | **Selected Mortgage Banking Information & Additional Information** |
| | **As of/For the Quarter Ended** | **As of/For the Quarter Ended** | **As of/For the Quarter Ended** | **As of/For the Quarter Ended** | **As of/For the Quarter Ended** |
| **(Dollars in millions, except per share data)** | **Dec. 31**<br>**2022** | **Sept. 30**<br>**2022** | **June 30**<br>**2022** | **March 31**<br>**2022** | **Dec. 31**<br>**2021** |
| **Mortgage Banking Income** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Residential mortgage income: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Residential mortgage production revenue | $7 | $1 | $36 | $52 | $115 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Residential mortgage servicing income: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Residential mortgage servicing revenue | 168 | 165 | 152 | 145 | 155 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Realization of expected residential MSR cash flows | (80) | (85) | (103) | (109) | (143) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Income statement impact of mortgage servicing rights valuation: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MSRs fair value increase (decrease) | (7) | 166 | 254 | 350 | (25) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MSRs hedge gains (losses) | (3) | (175) | (265) | (349) | 57 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net MSRs valuation | (10) | (9) | (11) | 1 | 32 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total residential mortgage servicing income | 78 | 71 | 38 | 37 | 44 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total residential mortgage income | 85 | 72 | 74 | 89 | 159 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commercial mortgage income: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commercial mortgage production revenue | 28 | 30 | 21 | 32 | 40 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commercial mortgage servicing income: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commercial mortgage servicing revenue | 18 | 17 | 17 | 17 | 18 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Realization of expected commercial MSR cash flows | (14) | (12) | (15) | (17) | (12) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Income statement impact of mortgage servicing rights valuation: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MSRs fair value increase (decrease) | (1) | 24 | 8 | 9 | (1) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MSRs hedge gains (losses) | 1 | (9) | (5) | (9) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net MSRs valuation |  | 15 | 3 |  | (1) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total commercial mortgage servicing income | 4 | 20 | 5 |  | 5 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commercial mortgage income | 32 | 50 | 26 | 32 | 45 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total mortgage banking income | $117 | $122 | $100 | $121 | $204 |
| **Other Mortgage Banking Information** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Residential mortgage loan originations | $4868 | $11746 | $11330 | $11408 | $14458 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Residential mortgage servicing portfolio (1): |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Loans serviced for others | 217046 | 218740 | 209504 | 195737 | 196011 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bank-owned loans serviced | 56982 | 56786 | 53341 | 50927 | 50716 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total servicing portfolio | 274028 | 275526 | 262845 | 246664 | 246727 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Weighted-average coupon rate on mortgage loans serviced for others | 3.48% | 3.45% | 3.42% | 3.41% | 3.44% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Weighted-average servicing fee on mortgage loans serviced for others | 0.31 | 0.30 | 0.30 | 0.31 | 0.31 |
| **Additional Information** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Brokered deposits (2) | $22353 | $20239 | $22926 | $19092 | $9627 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NQDCP income (expense): |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest income | $2 | $2 | $2 | $19 | $1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other income | 20 | (28) | (30) | (44) | (7) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Personnel expense | (22) | 26 | 28 | 25 | 6 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total NQDCP income (expense) | $— | $— | $— | $— | $— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Common stock prices: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;High | $47.47 | $52.22 | $57.50 | $68.95 | $65.42 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Low | 40.01 | 42.56 | 44.75 | 56.19 | 54.73 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;End of period | 43.03 | 43.54 | 47.43 | 56.70 | 58.55 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Banking offices | 2123 | 2119 | 2117 | 2112 | 2517 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ATMs | 3227 | 3185 | 3194 | 3214 | 3670 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FTEs (3) | 53999 | 52648 | 51349 | 51169 | 51348 |

---

(1)Amounts reported are unpaid principal balance.

(2)Amounts primarily represent interest checking and money market and savings deposits.

(3)FTEs represents an average for the quarter.

Truist Financial Corporation 17

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| | | |
|:---|:---|:---|
| | **Favorable (Unfavorable)** | **Favorable (Unfavorable)** |
| **Selected Items (1)**<br>**(Dollars in millions)**<br>**Description** |<br>**Pre-Tax** | **After-Tax at**<br>**Marginal Rate** |
| **Selected Items** | | |
| **Fourth Quarter 2022** | | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Incremental operating expenses related to the merger ($51 million professional fees and outside processing and $5 million other line items) | $(56) | $(43) |
| **Third Quarter 2022** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Incremental operating expenses related to the merger ($72 million professional fees and outside processing and $18 million other line items) | $(90) | $(69) |
| **Second Quarter 2022** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Incremental operating expenses related to the merger ($103 million professional fees and outside processing, $11 million personnel expense, and $3 million other line items) | $(117) | $(89) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gain (loss) on early extinguishment of debt (other expense) | 39 | 30 |
| **First Quarter 2022** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Incremental operating expenses related to the merger ($133 million professional fees and outside processing, $24 million personnel expense, $20 million net occupancy expense, and $25 million other line items) | $(202) | $(155) |
| &nbsp;&nbsp;&nbsp;&nbsp;Gain on redemption of noncontrolling equity interest related to the acquisition of certain merchant services relationships (other income) | 74 | 57 |
| **Fourth Quarter 2021** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Incremental operating expenses related to the merger ($144 million professional fees and outside processing, $59 million personnel expense, and $12 million other line items) | $(215) | $(165) |
| **Third Quarter 2021** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Incremental operating expenses related to the merger ($132 million professional fees and outside processing, $41 million personnel expense, and $18 million other line items) | $(191) | $(147) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Professional fee accrual (professional fees and outside processing) | (30) | (23) |
| **Second Quarter 2021** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Charitable contribution (other expense) | $(200) | $(153) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Incremental operating expenses related to the merger ($137 million professional fees and outside processing, $42 million personnel expense, and $11 million other line items) | (190) | (146) |
| **First Quarter 2021** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Incremental operating expenses related to the merger ($120 million professional fees and outside processing, $42 million personnel expense, and $13 million other line items) | $(175) | $(134) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Acceleration for cash flow hedge unwind (other expense) | (36) | (28) |

---

(1)Includes selected items representing a part of line items within the consolidated statements of income. Excludes line items adjusted in their entirety, such as securities gains and losses and costs classified as merger-related and restructuring charges as well as immaterial adjustments made for gains and losses on the early extinguishment of debt.

18 Truist Financial Corporation

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---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Year-to-Date** | **Year-to-Date** |
| **Non-GAAP Reconciliations**<br><br>**(Dollars in millions)** | **Dec. 31**<br>**2022** | **Sept. 30**<br>**2022** | **June 30**<br>**2022** | **March 31**<br>**2022** | **Dec. 31**<br>**2021** | **Dec. 31**<br>**2022** | **Dec. 31**<br>**2021** |
| **Efficiency Ratio (1)** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Efficiency Ratio Numerator - Noninterest Expense - GAAP** | $3722 | $3613 | $3580 | $3674 | $3700 | $14589 | $15116 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Merger-related and restructuring charges, net | (114) | (62) | (121) | (216) | (212) | (513) | (822) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gain (loss) on early extinguishment of debt |  |  | 39 |  | 1 | 39 | 4 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Incremental operating expense related to the merger | (56) | (90) | (117) | (202) | (215) | (465) | (771) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amortization of intangibles | (163) | (140) | (143) | (137) | (143) | (583) | (574) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Charitable contribution |  |  |  |  |  |  | (200) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Professional fee accrual |  |  |  |  |  |  | (30) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Acceleration for cash flow hedge unwind |  |  |  |  |  |  | (36) |
| &nbsp;&nbsp;&nbsp;&nbsp;**Efficiency Ratio Numerator - Adjusted** | $3389 | $3321 | $3238 | $3119 | $3131 | $13067 | $12687 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Efficiency Ratio Denominator - Revenue (2) - GAAP** | $6208 | $5847 | $5655 | $5325 | $5566 | $23035 | $22296 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Taxable equivalent adjustment | 50 | 38 | 28 | 26 | 24 | 142 | 108 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Securities (gains) losses |  | 1 | 1 | 69 |  | 71 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gain on redemption of noncontrolling equity interest |  |  |  | (74) |  | (74) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gains on divestiture of certain businesses |  |  |  |  |  |  | (37) |
| &nbsp;&nbsp;&nbsp;&nbsp;**Efficiency Ratio Denominator - Adjusted** | $6258 | $5886 | $5684 | $5346 | $5590 | $23174 | $22367 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Efficiency Ratio - GAAP** | 60.0% | 61.8% | 63.3% | 69.0% | 66.5% | 63.3% | 67.8% |
| &nbsp;&nbsp;&nbsp;&nbsp;**Efficiency Ratio - Adjusted** | 54.2 | 56.4 | 57.0 | 58.3 | 56.0 | 56.4 | 56.7 |

---

(1)The adjusted efficiency ratio is non-GAAP in that it excludes securities gains (losses), amortization of intangible assets, merger-related and restructuring charges, and other selected items. Truist's management uses this measure in their analysis of the Corporation's performance. Truist's management believes this measure provides a greater understanding of ongoing operations and enhances comparability of results with prior periods, as well as demonstrates the effects of significant gains and charges. These measures are not necessarily comparable to similar measures that may be presented by other companies.

(2)Revenue is defined as net interest income plus noninterest income.

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Year-to-Date** | **Year-to-Date** |
|<br>**(Dollars in millions)** | **Dec. 31**<br>**2022** | **Sept. 30**<br>**2022** | **June 30**<br>**2022** | **March 31**<br>**2022** | **Dec. 31**<br>**2021** | **Dec. 31**<br>**2022** | **Dec. 31**<br>**2021** |
| **Return on Average Tangible Common Shareholders' Equity (1)** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net income available to common shareholders | $1610 | $1536 | $1454 | $1327 | $1524 | $5927 | $6033 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Plus: Amortization of intangibles, net of tax | 125 | 107 | 109 | 105 | 110 | 446 | 441 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tangible net income available to common shareholders | $1735 | $1643 | $1563 | $1432 | $1634 | $6373 | $6474 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Average common shareholders' equity | $54823 | $56813 | $56803 | $60117 | $61807 | $57124 | $62112 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Less: Average intangible assets, net of deferred taxes | 29891 | 29035 | 29173 | 28905 | 27523 | 29253 | 26897 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Average tangible common shareholders' equity | $24932 | $27778 | $27630 | $31212 | $34284 | $27871 | $35215 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Return on average common shareholders' equity** | 11.7% | 10.7% | 10.3% | 9.0% | 9.8% | 10.4% | 9.7% |
| &nbsp;&nbsp;&nbsp;&nbsp;**Return on average tangible common shareholders' equity** | 27.6 | 23.5 | 22.7 | 18.6 | 18.9 | 22.9 | 18.4 |

---

(1)Tangible common equity and related measures are non-GAAP measures that exclude the impact of intangible assets, net of deferred taxes, and their related amortization. These measures are useful for evaluating the performance of a business consistently, whether acquired or developed internally. Truist's management uses these measures to assess profitability, returns relative to balance sheet risk, and shareholder value. These measures are not necessarily comparable to similar measures that may be presented by other companies.

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Year-to-Date** | **Year-to-Date** |
|<br>**(Dollars in millions, except per share data)** | **Dec. 31**<br>**2022** | **Sept. 30**<br>**2022** | **June 30**<br>**2022** | **March 31**<br>**2022** | **Dec. 31**<br>**2021** | **Dec. 31**<br>**2022** | **Dec. 31**<br>**2021** |
| **Diluted EPS (1)** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Net income available to common shareholders - GAAP** | $1610 | $1536 | $1454 | $1327 | $1524 | $5927 | $6033 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Merger-related and restructuring charges | 87 | 48 | 92 | 166 | 163 | 393 | 631 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Securities (gains) losses |  | 1 |  | 53 |  | 54 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Loss (gain) on early extinguishment of debt |  |  | (30) |  |  | (30) | (3) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Incremental operating expenses related to the merger | 43 | 69 | 89 | 155 | 165 | 356 | 592 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Charitable contribution |  |  |  |  |  |  | 153 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Professional fee accrual |  |  |  |  |  |  | 23 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Acceleration for cash flow hedge unwind |  |  |  |  |  |  | 28 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gain on redemption of noncontrolling equity interest |  |  |  | (57) |  | (57) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Net income available to common shareholders - Adjusted** | $1740 | $1654 | $1605 | $1644 | $1852 | $6643 | $7457 |
| &nbsp;&nbsp;&nbsp;&nbsp;Weighted average shares outstanding - diluted | 1337338 | 1336659 | 1338864 | 1341563 | 1343029 | 1338462 | 1349378 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Diluted EPS - GAAP** | $1.20 | $1.15 | $1.09 | $0.99 | $1.13 | $4.43 | $4.47 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Diluted EPS - Adjusted** | 1.30 | 1.24 | 1.20 | 1.23 | 1.38 | 4.96 | 5.53 |

---

(1)The adjusted diluted earnings per share is non-GAAP in that it excludes merger-related and restructuring charges and other selected items, net of tax. Truist's management uses this measure in their analysis of the Corporation's performance. Truist's management believes this measure provides a greater understanding of ongoing operations and enhances comparability of results with prior periods, as well as demonstrates the effects of significant gains and charges.

Truist Financial Corporation 19

## Exhibit 99.3

![](ex993-earningsdeck4q22001.jpg)

Fourth Quarter 2022 Earnings Conference Call Bill Rogers – Chairman & CEO Mike Maguire – CFO January 19, 2023

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![](ex993-earningsdeck4q22002.jpg)

2 This presentation contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, regarding the financial condition, results of operations, business plans and the future performance of Truist. Words such as "anticipates," "believes," "estimates," "expects," "forecasts," "intends," "plans," "projects," "may," "will," "should," "would," "could" and other similar expressions are intended to identify these forward-looking statements. In particular, forward looking statements include, but are not limited to, statements we make about: (i) the benefits of Truist's shift from integrating to operating and being "One Truist", (ii) guidance with respect to financial performance metrics in future periods, including future levels of revenues, adjusted expenses, adjusted operating leverage and net charge-off ratio, (iii) Truist's ability to perform well through a range of economic scenarios, (iv) Truist's effective tax rate in future periods, (v) the financial impact of recently completed acquisitions in 2023, (vi) projections of preferred stock dividends in 2023, (vii) Truist goal to more fully activate digital capabilities with clients in 2023 to improve client acquisition and retention and reduce costs, (viii) loan growth in future periods, (ix) the effects of purchase accounting accretion in future periods, (x) expected declines in overdraft fees through 2024, (xi) anticipated restructuring costs and expense rationalization efforts, (xii) expectations for organic capital generation in 2023, and (xiii) Truist's goal to produce strong growth and profitability with less volatility than peers. Forward-looking statements are not based on historical facts but instead represent management's expectations and assumptions regarding Truist's business, the economy and other future conditions. Such statements involve inherent uncertainties, risks and changes in circumstances that are difficult to predict. As such, Truist's actual results may differ materially from those contemplated by forward-looking statements. While there can be no assurance that any list of risks and uncertainties or risk factors is complete, important factors that could cause actual results to differ materially from those contemplated by forward-looking statements include the following, without limitation, as well as the risks and uncertainties more fully discussed under Part I, Item 1A-Risk Factors in our Annual Report on Form 10-K for the year ended December 31, 2021 and in Truist's subsequent filings with the Securities and Exchange Commission: • changes in the interest rate environment, including the replacement of LIBOR as an interest rate benchmark, could adversely affect Truist's revenue and expenses, the value of assets and obligations, and the availability and cost of capital, cash flows, and liquidity; • Truist is subject to credit risk by lending or committing to lend money, may have more credit risk and higher credit losses to the extent that loans are concentrated by loan type, industry segment, borrower type or location of the borrower or collateral, and may suffer losses if the value of collateral declines in stressed market conditions; • inability to access short-term funding or liquidity, loss of client deposits or changes in Truist's credit ratings could increase the cost of funding or limit access to capital markets; • general economic or business conditions, either globally, nationally or regionally, may be less favorable than expected, including as a result of supply chain disruptions, inflationary pressures and labor shortages, and instability in global geopolitical matters, including due to an outbreak or escalation of hostilities, or volatility in financial markets could result in, among other things, slower deposit or asset growth, a deterioration in credit quality, or a reduced demand for credit, insurance, or other services; • the monetary and fiscal policies of the federal government and its agencies, including in response to rising inflation, could have a material adverse effect on the economy and Truist's profitability; • the effects of COVID-19 have adversely impacted the Company's operations and financial performance and could have similar adverse impacts in future periods; • risk management oversight functions may not identify or address risks adequately, and management may not be able to effectively manage credit risk; • there are risks resulting from the extensive use of models in Truist's business, which may impact decisions made by management and regulators; • deposit attrition, client loss or revenue loss following completed mergers or acquisitions may be greater than anticipated; • Truist could fail to execute on strategic or operational plans, including the ability to successfully complete or integrate mergers and acquisitions; • increased competition, including from (i) new or existing competitors that could have greater financial resources or be subject to different regulatory standards or compliance costs, and (ii) products and services offered by non-bank financial technology companies, may reduce Truist's client base, cause Truist to lower prices for its products and services in order to maintain market share or otherwise adversely impact Truist's businesses or results of operations; • failure to maintain or enhance Truist's competitive position with respect to new products, services, and technology, whether it fails to anticipate client expectations or because its technological developments fail to perform as desired or do not achieve market acceptance or regulatory approval or for other reasons, may cause Truist to lose market share or incur additional expense; • negative public opinion could damage Truist's reputation and adversely impact business and revenues; • regulatory matters, litigation or other legal actions may result in, among other things, costs, fines, penalties, restrictions on Truist's business activities, reputational harm, negative publicity, or other adverse consequences; • Truist faces substantial legal and operational risks in safeguarding personal information; • evolving legislative, accounting and regulatory standards, including with respect to climate, capital, and liquidity requirements, and results of regulatory examinations may adversely affect Truist's financial condition and results of operations; • increased scrutiny regarding Truist's consumer sales practices, training practices, incentive compensation design, and governance could damage its reputation and adversely impact business and revenues; • accounting policies and processes require management to make estimates about matters that are uncertain, including the potential write down to goodwill if there is an elongated period of decline in market value for Truist's stock and adverse economic conditions are sustained over a period of time; • Truist faces risks related to originating and selling mortgages, including repurchase and indemnity demands from purchasers related to representations and warranties on loans sold, which could result in an increase in the amount of losses for loan repurchases; • there are risks relating to Truist's role as a loan servicer, including an increase in the scope or costs of the services Truist is required to perform without any corresponding increase in servicing fees or a breach of Truist's obligations as servicer; • Truist's success depends on hiring and retaining key teammates, and if these individuals leave or change roles without effective replacements, Truist's operations could be adversely impacted, which could be exacerbated in the increased work-from-home environment as job markets may be less constrained by physical geography; • Truist's operations rely on its ability, and the ability of key external parties, to maintain appropriate-staffed workforces, and on the competence, trustworthiness, health and safety of teammates; • Truist faces the risk of fraud or misconduct by internal or external parties, which Truist may not be able to prevent, detect, or mitigate; • security risks, including denial of service attacks, hacking, social engineering attacks targeting Truist's teammates and clients, malware intrusion, data corruption attempts, system breaches, cyber-attacks, which have increased in frequency with current geopolitical tensions, identity theft, ransomware attacks, and physical security risks, such as natural disasters, environmental conditions, and intentional acts of destruction, could result in the disclosure of confidential information, adversely affect Truist's business or reputation or create significant legal or financial exposure; and • widespread outages of operational, communication, or other systems, whether internal or provided by third parties, natural or other disasters (including acts of terrorism and pandemics), and the effects of climate change, including physical risks, such as more frequent and intense weather events, and risks related to the transition to a lower carbon economy, such as regulatory or technological changes or shifts in market dynamics or consumer preferences, could have an adverse effect on Truist's financial condition and results of operations, lead to material disruption of Truist's operations or the ability or willingness of clients to access Truist's products and services. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date they are made. Except to the extent required by applicable law or regulation, Truist undertakes no obligation to revise or update any forward-looking statements. Forward-Looking Statements

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![](ex993-earningsdeck4q22003.jpg)

3 Non-GAAP Information This presentation contains financial information and performance measures determined by methods other than in accordance with accounting principles generally accepted in the United States of America ("GAAP"). Truist's management uses these "non-GAAP" measures in their analysis of the Corporation's performance and the efficiency of its operations. Management believes these non-GAAP measures provide a greater understanding of ongoing operations, enhance comparability of results with prior periods and demonstrate the effects of significant items in the current period. The Company believes a meaningful analysis of its financial performance requires an understanding of the factors underlying that performance. Truist's management believes investors may find these non-GAAP financial measures useful. These disclosures should not be viewed as a substitute for financial measures determined in accordance with GAAP, nor are they necessarily comparable to non- GAAP performance measures that may be presented by other companies. Below is a listing of the types of non-GAAP measures used in this presentation: Adjusted Performance Measures - The adjusted performance measures, including adjusted diluted EPS, adjusted return on average assets, adjusted return on average common shareholders' equity, adjusted return on average tangible common shareholders' equity, adjusted efficiency, adjusted operating leverage, adjusted revenue, and adjusted noninterest expense, are non-GAAP in that they exclude merger-related and restructuring charges, other selected items, and amortization of intangible assets, as applicable to tangible measures. Truist's management uses these measures in their analysis of the Corporation's performance. Truist's management believes these measures provide a greater understanding of ongoing operations and enhance comparability of results with prior periods, as well as demonstrate the effects of significant gains and charges. Pre-Provision Net Revenue (PPNR) - Pre-provision net revenue is a non-GAAP measure that adjusts net income determined in accordance with GAAP to exclude the impact of the provision for credit losses and provision for income taxes. Adjusted pre-provision net revenue is a non-GAAP measure that additionally excludes securities gains (losses), merger-related and restructuring charges, amortization of intangible assets, and other selected items. Truist's management believes these measures provide a greater understanding of ongoing operations and enhances comparability of results with prior periods. Tangible Common Equity and Related Measures - Tangible common equity and related measures are non-GAAP measures that exclude the impact of intangible assets, net of deferred taxes, and their related amortization. These measures are useful for evaluating the performance of a business consistently, whether acquired or developed internally. Truist's management uses these measures to assess profitability, returns relative to balance sheet risk, and shareholder value. Core NIM - Core net interest margin is a non-GAAP measure that adjusts net interest margin to exclude the impact of purchase accounting. The purchase accounting marks and related amortization for loans, deposits, and long-term debt from SunTrust and other acquisitions are excluded to approximate the yields paid by clients. Truist's management believes the adjustments to the calculation of net interest margin for certain assets and liabilities acquired provide investors with useful information related to the performance of Truist's earning assets. Insurance Holdings Adjusted EBITDA - EBITDA is a non-GAAP measurement of operating profitability that is calculated by adding back interest, taxes, depreciation, and amortization to net income. Truist's management also adds back merger- related and restructuring charges, incremental operating expenses related to the merger, and other selected items. Truist's management uses this measure in its analysis of the Corporation's Insurance Holdings segment. Truist's management believes this measure provides a greater understanding of ongoing operations and enhances comparability of results with prior periods, as well as demonstrates the effects of significant gains and charges. Selected items affecting results are included on slide 7.

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![](ex993-earningsdeck4q22004.jpg)

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![](ex993-earningsdeck4q22005.jpg)

5 A purpose-driven year In 2022, Truist remained true to our commitment to inspire and build better lives for our clients, teammates, and communities Clients Teammates & DEI Communities Strengthened financial inclusion – Truist One Banking with no overdraft fees Matured digital offerings to enhance the client experience – Launched Truist Assist, Truist Invest Pro, and Truist Trade – Opened Innovation and Technology Center – Acquired Long Game and Zaloni Arena Integrated Relationship Management momentum building – IRM qualified referrals up 16% vs. 2021 (excludes mortgage impact) Making Truist a great place to work – Industry-leading minimum wage increase to $22/hour for eligible teammates – Enhanced total rewards program with Employee Stock Purchase Program and additional family-building benefits Continued focus on DEI – Exceeded objective for ethnically diverse senior leadership roles one year early with continued aspirations for growth – Surpassed 10% spend goal with diverse suppliers in 2022 Accolades and honors – Ranked 5th overall on the JUST 100 list (January 2023) – Recognized as one of Fortune Magazine's Most Admired Companies Momentum for ESG and CSR programs – Exceeded $60 billion Community Benefits Plan overall commitments – Announced Net Zero by 2050 goal and made progress on sustainable finance opportunities Innovative charitable commitments – $120 million commitment to strengthen and support diverse-owned small businesses – Quickly deployed aid to help those impacted by Hurricane Ian; including from teammates via the One Team Fund 5

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![](ex993-earningsdeck4q22006.jpg)

Financial Results

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![](ex993-earningsdeck4q22007.jpg)

7 Selected items affecting 4Q22 results Item ($ in millions, except per share data) Pre-Tax After-Tax Diluted EPS Impact Merger-related and restructuring charges ($114) ($87) ($0.07) Incremental operating expenses related to the merger ($56) ($43) ($0.03) See non-GAAP reconciliations in the appendix

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8 4Q22 performance highlights Earnings and profitability – $1.7 billion of adjusted net income available to common ($1.30 per share) and adjusted ROTCE of 30% – Adjusted EPS up 4.8%, sequentially driven by strong growth in PPNR, partially offset by higher provision for credit losses – Adjusted PPNR up 12% sequentially as a result of expanding net interest margin, strong loan growth, and rebound in fee income, partially offset by higher noninterest expense – Building operating leverage momentum: YoY (4Q22 vs. 4Q21) adjusted operating leverage of 370 bps – Strong asset quality: 34 bps NCO ratio and stable NPL / delinquencies Balance sheet, capital, and liquidity – Robust sequential average loan growth of 3.0% (excluding BankDirect Capital Finance) – Liquidity and funding remain relatively stable – Average deposits declined 1.6% sequentially – LCR of 112% – Capital (9.0% CET1) remains strong, particularly in the context of Truist's risk profile – Closed acquisition of BankDirect Capital Finance (11/1) Change vs. 4Q22 3Q22 4Q21 GAAP / Unadjusted Revenue $6,258 6.3% 11.9% Expense $3,722 3.0% 0.6% PPNR $2,536 11.6% 34.2% Provision for credit losses $467 NM NM Net income available to common $1,610 4.8% 5.6% Diluted EPS $1.20 4.3% 6.2% ROCE 11.7% 100 bps 190 bps ROTCE 27.6% 410 bps 870 bps Efficiency ratio 60.0% (180) bps (650) bps TBVPS $18.04 (1.7)% (29.2)% Adjusted Revenue $6,258 6.3% 11.9% Expense $3,389 2.0% 8.2% PPNR $2,869 11.9% 16.7% Net income available to common $1,740 5.2% (6.0)% Diluted EPS $1.30 4.8% (5.8)% ROCE 12.6% 110 bps 70 bps ROTCE 29.6% 450 bps 700 bps Efficiency ratio 54.2% (220) bps (180) bps Note: All data points are taxable-equivalent, where applicable; see non-GAAP reconciliations in the appendix Current quarter regulatory capital information is preliminary Summary Income Statement Commentary ($ in millions, except per share data)

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9 2022 performance highlights Earnings and profitability – Strong overall financial results: $6.6 billion of adjusted net income ($4.96 per share) and 25% adjusted ROTCE – Adjusted EPS declined 10% YoY as solid 4.4% adjusted PPNR growth was offset by increase in provision expense (due to reserve releases in 2021) – Achieved positive operating leverage – GAAP: 680 bps – Adjusted: 60 bps – Strong asset quality: 27 bps NCO ratio Balance sheet, capital, and liquidity – Robust point-to-point loan growth of 13% – Significant capital deployment and capital ratios remains strong (9.0% CET1) – Completed acquisitions of Kensington Vanguard, certain merchant relationships, BenefitMall, and BankDirect Capital Finance (~50 bps of capital deployment) – Increased dividend 8% to $0.52 per share in 3Q22 2022 2021 Change GAAP / Unadjusted Revenue $23,177 $22,404 3.5% Expense $14,589 $15,116 (3.5)% PPNR $8,588 $7,288 17.8% Provision for credit losses $777 $(813) NM Net income available to common $5,927 $6,033 (1.8)% Diluted EPS $4.43 $4.47 (0.9)% ROCE 10.4% 9.7% 70 bps ROTCE 22.9% 18.4% 450 bps Efficiency ratio 63.3% 67.8% (450) bps TBVPS $18.04 $25.47 (29.2)% Adjusted Revenue $23,174 $22,367 3.6% Expense $13,067 $12,687 3.0% PPNR $10,107 $9,680 4.4% Net income available to common $6,643 $7,457 (10.9)% Diluted EPS $4.96 $5.53 (10.3)% ROCE 11.6% 11.9% (30) bps ROTCE 25.1% 22.0% 310 bps Efficiency ratio 56.4% 56.7% (30) bps Note: All data points are taxable-equivalent, where applicable; see non-GAAP reconciliations in the appendix Current quarter regulatory capital information is preliminary Summary Income Statement Commentary ($ in millions, except per share data)

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10 1Q22 2Q22 3Q22 4Q22 Product, Experience, and Platform Innovations Delivered in 2022 Position Truist for Continued Digital Growth and Client Engagement in 2023 1Q22 2Q22 3Q22 4Q22 Client-centric digital growth 1Q22 2Q22 3Q22 4Q22 1 Active users reflect clients that have logged in using the mobile app over the prior 90 days 2 Digital transactions include transfers, Zelle, bill payments, mobile deposits, ACH, and wire transfers 3 Client satisfaction: How satisfied are you with your most recent experience using digital banking with Truist? 4.24MM Mobile App Users1 Zelle Transactions Digital Transactions2 Increase in Client Satisfaction With Digital3 1Q22 2Q22 3Q22 4Q22 58.0MM 63.5MM 13.5MM – Long Game Acquisition (2Q). Mobile application uses prize-linked savings and fun to promote financial literacy, increase client lifetime value, and drive new client acquisition. Launches to Truist teammates, clients, and prospects throughout 2023. – Truist One Banking (3Q). Truist One Checking and Truist Confidence accounts have features to help prevent overdraft fees and overspending, while encouraging strong money management habits with digital payments tools like online bill pay and Zelle® – Truist Assist (3Q). AI-enhanced virtual assistant, combining technology with human touch. Provides automated chat messaging for everyday banking help, seamlessly connecting to Contact Center teammates when live help is needed. – Truist Trade (4Q). Expanding the digital investment solutions portfolio by offering a self- directed, commission-free online trading experience with a new, simplified (digital end-to- end) account opening process 4.4MM 64.5MM +6% +5% +7% 4.30MM 4.35MM 4.38MM +3% 15.9MM 17.6MM 19.0MM +42% 65.7MM +13% +3% +21%

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11 $164.5 $167.5 $173.3 $179.7 $187.5 $121.8 $121.1 $123.4 $129.7 $133.2 3.81% 3.70% 3.91% 4.49% 5.25% 3.49% 3.42% 3.64% Commercial LHFI ($ B) Consumer & Card LHFI ($ B) Loans HFI yield (%) Loans HFI yield ex. PAA (%) 4Q21 1Q22 2Q22 3Q22 4Q22 – Strong growth: Average loans up 3.6% (3.0% excluding BankDirect Capital Finance) – C&I up 4.7% due to growth across most CIB industry verticals and product groups and CCB – BankDirect Capital Finance acquisition closed on 11/1 and added $3.1 billion of loans ($2.1 billion on an average basis) – Residential mortgage up $3.0 billion, or 5.7%, as a result of prior correspondent purchases and slower prepays Average loans & leases HFI 5-Quarter Trend vs. Linked Quarter $286.3 $288.6 $296.7 $309.4 $320.7 $288.9 $303.9 $168.6 $177.1 $120.3 $126.9 3.97% 4.36% 3.57% 4.14% 2021 2022 Full-Year Trend vs. Like Quarter – Average loans up 12% – C&I up 18% due to growth across most CIB industry verticals and product groups and CCB – Residential mortgage up 19% as a result of additional correspondent purchases and slower prepays – Consumer/card (ex. residential mortgage) up 3.0% due to growth in Service Finance, indirect auto, recreational lending, LightStream, and Sheffield; partially offset by run-off in student and partnership loans4.36% May not foot due to rounding 5.14% +5%

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12 $259.6 $272.7 $138.7 $145.4 0.04% 2021 2022 264.5 $269.3 $275.1 $274.1 $272.2 $146.5 $145.9 $148.6 $146.0 $141.0 0.03% 0.03% 0.09% Interest-bearing deposits Noninterest-bearing deposits Total deposit cost (%) 4Q21 1Q22 2Q22 3Q22 4Q22 Average deposits 1 Marginal beta calculation is based on change in average interest-bearing deposits costs divided by change in average Fed Funds from 3Q22 to 4Q22 2 Cumulative beta calculation is based on change in average interest-bearing deposit costs divided by change in average Fed Funds from 1Q22 to 4Q22 May not foot due to rounding $411.0 $415.2 $423.8 $420.1 – Average deposits declined $6.8 billion, or 1.6%, driven by monetary tightening, inflation, and higher rate alternatives – Well-controlled deposit costs – Total cost of deposits was 66 bps; up 35 bps compared to prior quarter – Total cost of interest-bearing deposits was 100 bps, up 52 bps compared to prior quarter – Reflects a 34% marginal1 and 27% cumulative2 beta vs. Linked Quarter vs. Like Quarter – Average deposits increased $2.3 billion, or 0.6%, due to an increase in brokered deposits, partially offset by the impact of monetary tightening, inflation, and higher rate alternatives 5-Quarter Trend Full-Year Trend $413.3 $418.1 $398.4 0.31% 0.66% 0.27% +5%

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13 $3,267 $3,209 $3,435 $3,783 $4,030 $3,030 $2,999 $3,231 $3,670 $237 $210 $204 $113 $94 2.76% 2.76% 2.89% 3.12% 3.25% 2.55% 2.57% 2.72% 3.02% 3.17% Core net interest income TE ($ MM) Purchase accounting accretion ($ MM) Reported NIM (%) Core NIM (%) 4Q21 1Q22 2Q22 3Q22 4Q22 Net interest income & net interest margin 1 See non-GAAP reconciliations in the appendix vs. Linked Quarter5-Quarter Trend Full-Year Trend 1 – Net interest income increased 6.6% as a result of higher short-term interest rates and strong loan growth (alongside well-controlled deposit costs) – Reported and core NIM expanded 13 and 15 bps respectively, as a result of higher short-term interest rates (alongside well-controlled deposit costs) vs. Like Quarter – Net interest income up 23% as a result of aforementioned factors, partially offset by lower PAA and PPP revenue – Reported NIM up 49 bps as core NIM expansion of 62 bps more than offset 13 bps decline in PAA contribution – Core NIM expansion driven by higher market interest rates alongside well-controlled deposit costs $11,974 2.86% 3.01% 2.60% 2.88% 2021 2022 $1,140 $621 $13,114 $14,458 $3,937 $13,837 +10% 1

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14 $2,323 $2,142 $2,248 $2,102 $2,227 41.7% 40.2% 39.7% 36.0% 35.9% Fee income Fee income ratio (%) 4Q21 1Q22 2Q22 3Q22 4Q22 Noninterest income vs. Linked Quarter5-Quarter Trend Full-Year Trend – Noninterest income increased $125 million, or 5.9% – Insurance income increased $41 million driven by seasonality and the BenefitMall acquisition – Investment banking & trading increased $35 million, primarily due to higher structured real estate income – Other income increased $33 million due to NQDCP vs. Like Quarter – Noninterest income decreased $96 million, or 4.1% – Investment banking & trading declined $120 million due to lower capital markets and M&A activity – Mortgage banking income declined $87 million due to lower refinance activity (impacting volumes and margins) – Partially offset by strong 15% growth in insurance revenue (acquisitions and 5.6% organic growth) $9,290 $8,719 41.7% 37.9% 2021 2022 (6%)

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15 – Noninterest expense increased $22 million, or 0.6% – Merger costs1 declined $257 million, offset by higher adjusted noninterest expense – Adjusted noninterest expense2 increased $258 million, or 8.2% – Personnel expense increased $161 million due to increase in minimum wage, investments in targeted businesses and acquisitions, and higher medical claims – Professional fees and outside processing increased $61 million due to enterprise technology investments and increased call center staffing – Other expense increased $26 million primarily due to higher T&E expense – Acquisitions contributed ~$75 million to YoY increase 67.8% 63.3% 56.7% 56.4% 2021 2022 66.5% 69.0% 63.3% 61.8% 60.0% 56.0% 58.3% 57.0% 56.4% Adjusted noninterest expense Merger costs Amortization Other significant items GAAP efficiency ratio Adjusted efficiency ratio 4Q21 1Q22 2Q22 3Q22 4Q22 1 Includes merger-related and restructuring charges and incremental operating expenses related to the merger 2 Excludes incremental operating expenses related to the merger May not foot due to rounding Noninterest expense $143 $427 $3,131 $3,700 $137 $418 $3,119 $3,674 $143 $152 $3,238 $3,580 ($39) 1 $3,613 vs. Linked Quarter5-Quarter Trend Full-Year Trend – Noninterest expense increased $109 million, or 3.0% – 4Q22 included $170 million of merger costs1 compared to $152 million in 3Q22 – Adjusted noninterest expense2 was $3.4 billion, up $68 million, or 2.0% – Personnel expense increased $84 million primarily due to changes in NQDCP and increase in minimum wage – Marketing expenses declined $35 million – Other expense decreased $28 million due to lower operational losses – Acquisitions contributed ~$30 million to sequential increase – Excluding NQDCP, adjusted noninterest expense increased 0.6% vs. Like Quarter $238 $3,321 $140 $3,389 $170 $163 $3,722 ($39) $13,067 $12,687 $978$1,593 $583 $574 $15,116 $14,589 $262 54.2% (3%)

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16 $182 $178 $159 $213 $273 0.25% 0.25% 0.22% 0.27% 0.34% NCO NCO ratio 4Q21 1Q22 2Q22 3Q22 4Q22 Asset quality 4.5x 9.0x 8.8x $421Net Charge-Offs Provision / (Benefit) for Credit Losses Nonperforming Loans / LHFI ALLL ($103) ($95) $171 $234 $467 4Q21 1Q22 2Q22 3Q22 4Q22 $4,435 $4,170 $4,187 $4,205 $4,377 1.53% 1.44% 1.38% 1.34% 1.34% ALLL ALLL ratio ALLL / NCO 4Q21 1Q22 2Q22 3Q22 4Q22 Continued strong credit performance; sequential and YoY trends primarily driven by seasonality / normalization within consumer portfolios Provision expense increased sequentially primarily due to moderately slower economic outlook The ALLL ratio was stable sequentially as a moderately slower economic outlook was offset by growth in higher quality loans (organic and BankDirect Capital Finance acquisition) Strong asset quality continues to reflect Truist's prudent risk culture and diverse loan portfolio Leading indicators (NPL, early stage delinquencies) remain strong 6.14X 5.78X 6.54X 4.98X $697 $823 0.24% 0.27% 2021 2022 $(813) $775 2021 2022 $777 0.38% 0.36% 0.36% 0.35% 0.36% 4Q21 1Q22 2Q22 3Q22 4Q22 4.05X

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17 Capital and liquidity position 9.6% 9.1% 9.0% Common Equity Tier 1 Tier 1 Total 4Q21 3Q22 4Q22 Current quarter regulatory capital information is preliminary 114% 111% 112% $86.7 $88.6 $89.4 LCR HQLA ($ B) 4Q21 3Q22 4Q22 13.9% Capital position – CET1 ratio was 9.0%, down 10 bps from 9/30 – Decline driven by strong 2.7% EOP organic loan growth and BankDirect Capital Finance acquisition – Dividend per share of $0.52 – Overall, continue to maintain a strong capital position, particularly in the context of Truist's diverse business model and risk and profitability profile Liquidity position – Average LCR of 112% – Average loan-to-deposit ratio of 78% – Securities portfolio is 97% government guaranteed and declined 7% YoY (cash flows funded loan growth) 11.3% 13.2% Capital and liquidity position Commentary 10.7% 12.6% 12.5% 10.5%

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18 13.9% 4Q22 Actuals 1Q23 Outlook Revenue (TE) $6.3 Down 2-3% Adjusted expenses $3.4 Up 1-2% Full Year 2022 Actuals Full Year 2023 Outlook Adjusted revenue (TE) $23.2 Up 7-9% Adjusted expenses $13.1 Up 5-7% Net charge-off ratio 27 bps 35-50 bps Tax rate 18% effective; 20% on TE basis ~19% effective; ~21% on TE basis 1Q23 and 2023 outlook Fu ll ye ar 2 02 3 co m pa re d to fu ll ye ar 2 02 2 ($ in billions) 1Q 23 co m pa re d to 4 Q 22 All data points are taxable-equivalent, where applicable Adjusted expenses exclude amortization of intangibles, merger-related and restructuring charges, incremental operating expenses related to the merger, and other selected items Adjusted revenues exclude securities gains / (losses) and other selected items See non-GAAP reconciliations in the appendix

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19 9.2% ...Well Positioned for the Future – Shifting from integrating focus to operating focus (executional excellence and purposeful growth) – Realize significant benefit from becoming One Truist (systems, digital, brand) – Digitize, automate, simplify processes and operations – Accelerate IRM progress – Targeted investments and ongoing client experience enhancements – Raising the bar – Well positioned for wide range of economic outcomes – Conservative credit culture – Balanced interest rate risk profile – Diverse business mix – Strong profitability profile – Strong capital position Building momentum Operating Leverage Increasing and... (2.4)% (1.7)% 2.6% 3.7% (1.5)% 0.6% FY 2021 FY 2022 (4.7%) 10.8% 10.9% (3.3%) 6.8% 4Q223Q222Q221Q22 GAAP Adjusted Operating Leverage (YoY) Quarterly Trends (YoY) Full Year Trend See non-GAAP reconciliations in appendix

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20 Investment thesis Why Truist? Purpose-Driven Culture Exceptional Company Investing in the Future Leading Financial Performance – Inspire and build better lives and communities – Optimize long-term value for all stakeholders through safe, sound, and ethical practices – Attract and retain top talent – Continued strong ESG progress – Top 10 U.S. commercial bank – Comprehensive and diverse business mix with distinct capabilities in insurance, investment banking, digital / point-of- sale lending, and advice / industry expertise – Significant IRM potential – Strong market shares in high growth footprint (South / Mid-Atlantic) with select national businesses – Further modernize technology stack – Obsess over enhanced client and teammate experience to drive client acquisition – Enable convenient commerce and strengthen payments capabilities – Fit-for-purpose approach (build, buy, partner) – Increased usage of Open Banking, APIs, and Truist Ventures – Targeting strong growth and profitability relative to peers (with lower volatility) – Disciplined risk and financial management; focus on diversity – Strong risk adjusted capital position

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Appendix

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A-1 Consumer Banking & Wealth Income statement ($ MM) 4Q22 vs. 3Q22 vs. 4Q21 Full Year 2022 Full Year Change Net interest income $2,954 $298 $674 $10,080 $975 Provision for credit losses 311 28 252 867 717 Noninterest income 846 10 (109) 3,423 (274) Noninterest expense 1,925 (5) (26) 7,669 (94) Segment net income 1,194 218 222 3,785 15 Balance Sheet ($ B) Average loans(1) $143.4 $3.0 $10.1 $137.5 $4.9 Average deposits 242.7 (6.6) (6.3) 250.0 8.9 Other Key Metrics(2) Mortgages serviced for others ($ B) $217.0 ($1.7) $21.0 Wealth management AUM ($ B) 180.4 6.5 (29.2) Branches 2,123 4 (394) (1) Excludes loans held for sale (2) Amount reported reflects end of period balance Represents performance for Retail and Small Business Banking, Wealth, Mortgage Banking, and Consumer Finance Solutions – Segment net income of $3.8 billion, flat YoY – Net interest income increased 11% primarily driven by higher funding credit on deposits and higher average loan balances, partially offset by reduced PAA – Average loans grew 3.7% YoY primarily driven by residential mortgage balances due to slower run-off and correspondent production – Growth in Service Finance, recreational lending, LightStream, and prime auto partially offset declines in mortgage warehouse lending and other portfolios – Average deposits increased 3.7% YoY, but began to normalize in the second half of 2022 due to higher interest rates and inflation – Provision for credit losses increased in 2022 due to higher loan growth and reserve releases in 2021 – Fee income down 7.4% YoY largely due to declines in mortgage banking income, wealth management income, and service charges – Noninterest expense declined 1.2% YoY primarily due to decline in occupancy and incentives expense, partially offset by increased operational losses – Branch count down 16% YoY due to merger-related branch closures in 2022 Metrics Full Year Commentary

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A-2 Corporate & Commercial Banking – Net income of $4.4 billion, down 9.0%, primarily driven by higher provision for credit losses and lower IB fees, partially offset by higher net interest income and lower expenses – Net interest income of $6.1 billion increased 14% as a result of higher funding credit on deposits and higher average loan balances, partially offset by reduced PAA and PPP fees – Noninterest income of $2.7 billion decreased 16% primarily due to lower IB fees – Noninterest expense of $3.2 billion, down 0.9%, primarily due to lower variable incentive comp, merger and restructuring charges, and professional services; partially offset by investments / strategic hiring – Average loans of $164.5 billion increased 7.2% driven by increased revolver utilization and strong production momentum across both CIB and CCB – Average deposits of $147.9 billion declined 1.3% primarily driven by impact of the higher rate environment (1) Excludes loans held for sale Represents performance for Commercial Community Banking, Corporate & Investment Banking, and CRE & Grandbridge Metrics Full Year Commentary Income statement ($ MM) 4Q22 vs. 3Q22 vs. 4Q21 Full Year 2022 Full Year Change Net interest income $1,836 $211 $523 $6,073 $740 Provision for credit losses 134 184 317 (95) 786 Noninterest income 675 31 (147) 2,661 (513) Noninterest expense 834 17 13 3,233 (31) Segment net income 1,217 37 19 4,395 (435) Balance Sheet ($ B) Average loans(1) $173.5 $5.7 $23.4 $164.5 $11.0 Average deposits 145.7 (0.6) (9.6) 147.9 (1.9)

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A-3 Insurance Holdings 4Q commentary – Revenue increased 20% – Organic revenue growth was 5.6% – Acquired revenue of $76 million – New business generation was strong with improving retention – Noninterest expenses were up 25% due to completed acquisitions, investments in new hires and teammates, performance-driven incentive expense, higher merger- related charges related to acquisitions, and an increase in T&E expense – Market conditions – P&C premium rate increases remained relatively consistent vs prior quarters – Continue to see growth in exposure units and growth in the value of the exposure units due to inflation Full year commentary – Revenue increased 17% – Organic revenue growth was 6.7% – EBITDA margin declined 170 bps primarily driven by an increase in T&E expense post-COVID and investments in new producers (1) EBITDA is a non-GAAP measurement of operating profitability that is calculated by adding back interest, taxes, depreciation, and amortization to net income. Truist's management also adds back merger- related and restructuring charges, incremental operating expenses related to the merger, and other selected items. Truist's management uses this measure in its analysis of the Corporation's Insurance Holdings segment. Truist's management believes this measure provides a greater understanding of ongoing operations and enhances comparability of results with prior periods, as well as demonstrates the effects of significant gains and charges. See non-GAAP reconciliations included in the attached Appendix. Represents performance for Truist Insurance Holdings' Retail, Wholesale, and Services Divisions Metrics 4Q and Full Year Commentary Income statement ($ MM) 4Q22 vs. 3Q22 vs. 4Q21 Full Year 2022 Full Year Change Net interest income $46 $13 $23 $131 $30 Noninterest income 801 67 120 3,105 441 Total revenue 847 80 143 3,236 471 Noninterest expense 681 41 135 2,504 425 Segment net income 121 27 (6) 546 16 Performance ($ MM) YoY organic revenue growth 5.6 % (0.9) % (5.2) % 6.7 % (4.3) % Net acquired revenue $76 $35 $14 $256 $70 Performance based commissions 32 11 4 91 14 Adjusted EBITDA(1) 218 37 23 918 88 Adjusted EBITDA margin(1) 25.7 % 2.2 % (2.0) % 28.3 % (1.7) %

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A-4 Purchase accounting summary(1) ($ in millions) As of/For the Quarter Ended Dec. 31 Sept. 30 June 30 March 31 Dec. 31 2022 2022 2022 2022 2021 Loans and Leases(2) Beginning balance unamortized fair value mark $(826) $(924) $(1,119) $(1,323) $(1,540) Accretion 80 96 189 191 217 Purchase accounting adjustments and other activity 5 2 6 13 — Ending balance $(741) $(826) $(924) $(1,119) $(1,323) Core deposit and other intangible assets Beginning balance $3,726 $3,535 $3,693 $3,408 $2,930 Additions - acquisitions 111 336 — 430 647 Amortization(3) (163) (140) (143) (137) (143) Amortization in net occupancy expense (3) (5) (5) (8) (3) Purchase accounting adjustments and other activity 1 — (10) — (23) Ending balance $3,672 $3,726 $3,535 $3,693 $3,408 Deposits(4) Beginning balance unamortized fair value mark $(1) $(3) $(5) $(7) $(9) Amortization 1 2 2 2 2 Ending balance $— $(1) $(3) $(5) $(7) Long-Term Debt(4) Beginning balance unamortized fair value mark $(94) $(109) $(122) $(139) $(157) Amortization 13 15 13 17 18 Ending balance $(81) $(94) $(109) $(122) $(139) (1) Includes only selected information and does not represent all purchase accounting adjustments. (2) Purchase accounting marks on loans and leases includes credit, interest and liquidity components, and are generally recognized using the level-yield or straight-line method over the remaining life of the individual loans or recognized in full in the event of prepayment. (3) Includes $16 million partial write-down of an investment advisory intangible asset from a prior acquisition in 4Q22. (4) Purchase accounting marks on liabilities represents interest rate marks on time deposits and long-term debt and are recognized using the level-yield method over the term of the liability.

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A-5 M&A related financial impacts Purchase accounting accretion Amortization of intangibles Merger-related and restructuring charges Incremental operating expenses related to the merger 1Q22 $210 $137 $216 $202 2Q22 204 143 121 117 3Q22 113 140 62 90 4Q22 94 163 114 56 FY 2022 621 583 513 465 FY 2023E ~300 ~540 ~100-125 0 ($ in millions) Amounts for future periods are based on Company projections No cost for MOE; represents BAU costs for acquisitions and restructuring activity

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A-6 1Q23–4Q23 preferred stock projected dividends Estimates assume forward-looking LIBOR and SOFR rates. Actual interest rates could vary significantly causing dividend payments to differ from the estimates shown above. Truist Preferred Outstandings ($ MM) 1Q23 2Q23 3Q23 4Q23 Series I $173 $2.3 $2.5 $2.6 $2.5 Series J $102 1.4 1.5 1.5 1.5 Series L $750 14.8 15.8 16.0 15.6 Series M $500 — 12.8 — 12.8 Series N $1,700 40.8 — 40.8 — Series O $575 7.5 7.5 7.5 7.5 Series P $1,000 — 24.8 — 24.8 Series Q $1,000 25.5 — 25.5 — Series R $925 11.0 11.0 11.0 11.0 Estimated dividends based on projected interest rates and amounts outstanding ($ MM) $103.3 $75.9 $105.0 $75.7

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Non-GAAP Reconciliations

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A-8 Quarter Ended Year Ended Dec. 31 Sept. 30 June 30 March 31 Dec. 31 Dec. 31 Dec. 31 2022 2022 2022 2022 2021 2022 2021 Net income available to common shareholders - GAAP $1,610 $1,536 $1,454 $1,327 $1,524 $5,927 $6,033 Merger-related and restructuring charges 87 48 92 166 163 393 631 Securities (gains) losses — 1 — 53 — 54 — Loss (gain) on early extinguishment of debt — — (30) — — (30) (3) Incremental operating expenses related to the merger 43 69 89 155 165 356 592 Charitable contribution — — — — — — 153 Professional fee accrual — — — — — — 23 Acceleration for cash flow hedge unwind — — — — — — 28 Gain on redemption of noncontrolling equity interest — — — (57) — (57) — Net income available to common shareholders - Adjusted $1,740 $1,654 $1,605 $1,644 $1,852 $6,643 $7,457 Weighted average shares outstanding - diluted 1,337,338 1,336,659 1,338,864 1,341,563 1,343,029 1,338,462 1,349,378 Diluted EPS - GAAP $1.20 $1.15 $1.09 $0.99 $1.13 $4.43 $4.47 Diluted EPS - adjusted(1) 1.30 1.24 1.20 1.23 1.38 4.96 5.53 Non-GAAP reconciliations Diluted EPS ($ in millions, except per share data, shares in thousands) (1) The adjusted diluted earnings per share is non-GAAP in that it excludes merger-related and restructuring charges and other selected items, net of tax. Truist's management uses this measure in their analysis of the Corporation's performance. Truist's management believes this measure provides a greater understanding of ongoing operations and enhances comparability of results with prior periods, as well as demonstrates the effects of significant gains and charges.

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A-9 Non-GAAP reconciliations Efficiency ratio ($ in millions) (1) Revenue is defined as net interest income plus noninterest income. (2) The adjusted efficiency ratio is non-GAAP in that it excludes securities gains (losses), amortization of intangible assets, merger-related and restructuring charges, and other selected items. Truist's management uses this measure in their analysis of the Corporation's performance. Truist's management believes this measure provides a greater understanding of ongoing operations and enhances comparability of results with prior periods, as well as demonstrates the effects of significant gains and charges. Quarter Ended Year Ended Dec. 31 Sept. 30 June 30 March 31 Dec. 31 Dec. Dec. 2022 2022 2022 2022 2021 2022 2021 Efficiency ratio numerator - noninterest expense - GAAP $3,722 $3,613 $3,580 $3,674 $3,700 $14,589 $15,116 Merger-related and restructuring charges, net (114) (62) (121) (216) (212) (513) (822) Gain (loss) on early extinguishment of debt — — 39 — 1 39 4 Incremental operating expense related to the merger (56) (90) (117) (202) (215) (465) (771) Amortization of intangibles (163) (140) (143) (137) (143) (583) (574) Charitable contribution — — — — — — (200) Professional fee accrual — — — — — — (30) Acceleration for cash flow hedge unwind — — — — — — (36) Efficiency ratio numerator - adjusted $3,389 $3,321 $3,238 $3,119 $3,131 $13,067 $12,687 Efficiency ratio denominator - revenue(1) - GAAP $6,208 $5,847 $5,655 $5,325 $5,566 $23,035 $22,296 Taxable equivalent adjustment 50 38 28 26 24 142 108 Securities (gains) losses — 1 1 69 — 71 — Gain on redemption of noncontrolling equity interest — — — (74) — (74) — Gains on divestiture of certain businesses — — — — — — (37) Efficiency ratio denominator - adjusted $6,258 $5,886 $5,684 $5,346 $5,590 $23,174 $22,367 Efficiency ratio - GAAP 60.0 % 61.8 % 63.3 % 69.0 % 66.5 % 63.3 % 67.8 % Efficiency ratio - adjusted(2) 54.2 56.4 57.0 58.3 56.0 56.4 56.7

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A-10 Non-GAAP Reconciliations Operating Leverage(1) ($ in millions) Quarter Ended Year-to-Date Link Quarters Like Quarters Year-to-Date Dec. 31 Sep. 30 Jun. 30 Mar. 31 Dec. 31 Sep. 30 Jun. 30 Mar. 31 Dec. 31 Dec. 31 Dec. 31 4Q22 vs. 3Q22 4Q22 vs. 4Q21 3Q22 vs. 3Q21 2Q22 vs. 2Q21 1Q22 vs. 1Q21 2022 vs. 2021 2021 vs. 20202022 2022 2022 2022 2021 2021 2021 2021 2022 2021 2020 Revenue(2) - GAAP $6,208 $5,847 $5,655 $5,325 $5,566 $5,598 $5,650 $5,482 $23,035 $22,296 $22,705 6.2 % 11.5 % 4.4 % 0.1 % (2.9) % 3.3 % (1.8) % Taxable equivalent adjustment 50 38 28 26 24 28 28 28 142 108 125 Securities (gains) losses — 1 1 69 — — — — 71 — (402) Gain on redemption of noncontrolling equity interest — — — (74) — — — — (74) — — Gains on divestiture of certain businesses — — — — — — — (37) — (37) — Revenue(2) - adjusted $6,258 $5,886 $5,684 $5,346 $5,590 $5,626 $5,678 $5,473 $23,174 $22,367 $22,428 6.3 % 11.9 % 4.6 % 0.1 % (2.3) % 3.6 % (0.3) % Noninterest expense - GAAP $3,722 $3,613 $3,580 $3,674 $3,700 $3,795 $4,011 $3,610 $14,589 $15,116 $14,897 3.0 % 0.6 % (4.8) % (10.7) % 1.8 % (3.5) % 1.5 % Merger-related and restructuring charges, net (114) (62) (121) (216) (212) (172) (297) (141) (513) (822) (860) Gain (loss) on early extinguishment of debt — — 39 — 1 — — 3 39 4 (235) Incremental operating expense related to the merger (56) (90) (117) (202) (215) (191) (190) (175) (465) (771) (534) Amortization of intangibles (163) (140) (143) (137) (143) (145) (142) (144) (583) (574) (685) Charitable contribution — — — — — — (200) — — (200) (50) Professional fee accrual — — — — — (30) — — — (30) — Acceleration for cash flow hedge unwind — — — — — — — (36) — (36) — Noninterest expense - adjusted $3,389 $3,321 $3,238 $3,119 $3,131 $3,257 $3,182 $3,117 $13,067 $12,687 $12,533 2.0 % 8.2 % 2.0 % 1.8 % 0.1 % 3.0 % 1.2 % Operating leverage - GAAP 3.2 % 10.9 % 9.2 % 10.8 % (4.7) % 6.8 % (3.3) % Operating leverage - adjusted(3) 4.3 % 3.7 % 2.6 % (1.7) % (2.4) % 0.6 % (1.5) % (1) Operating leverage is defined as percentage growth in revenue less percentage growth in noninterest expense. (2) Revenue is defined as net interest income plus noninterest income. (3) The adjusted operating leverage ratio is non-GAAP in that it excludes securities gains (losses), amortization of intangible assets, merger-related and restructuring charges, and other selected items. Truist's management uses this measure in their analysis of the Corporation's performance. Truist's management believes this measure provides a greater understanding of ongoing operations and enhances comparability of results with prior periods, as well as demonstrates the effects of significant gains and charges. These measures are not necessarily comparable to similar measures that may be presented by other companies.

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A-11 Non-GAAP reconciliations Pre-provision net revenue ($ in millions) (1) Revenue is defined as net interest income plus noninterest income. (2) Pre-provision net revenue is a non-GAAP measure that adjusts net income determined in accordance with GAAP to exclude the impact of the provision for credit losses and provision for income taxes. Adjusted pre-provision net revenue is a non-GAAP measure that additionally excludes securities gains (losses), merger-related and restructuring charges, amortization of intangible assets, and other selected items. Truist's management believes these measures provide a greater understanding of ongoing operations and enhances comparability of results with prior periods. Quarter Ended Year Ended Dec. 31 Sept. 30 June 30 March 31 Dec. 31 Dec. 31 Dec. 31 2022 2022 2022 2022 2021 2022 2021 Net income $1,682 $1,637 $1,532 $1,416 $1,602 $6,267 $6,437 Provision for credit losses 467 234 171 (95) (103) 777 (813) Provision for income taxes 337 363 372 330 367 1,402 1,556 Taxable-equivalent adjustment 50 38 28 26 24 142 108 Pre-provision net revenue(1)(2) $2,536 $2,272 $2,103 $1,677 $1,890 $8,588 $7,288 PPNR $2,536 $2,272 $2,103 $1,677 $1,890 $8,588 $7,288 Merger-related and restructuring charges, net 114 62 121 216 212 513 822 Gain (loss) on early extinguishment of debt — — (39) — (1) (39) (4) Incremental operating expense related to the merger 56 90 117 202 215 465 771 Amortization of intangibles 163 140 143 137 143 583 574 Charitable contribution — — — — — — 200 Professional fee accrual — — — — — — 30 Acceleration for cash flow hedge unwind — — — — — — 36 Securities (gains) losses — 1 1 69 — 71 — Gain on redemption of noncontrolling equity interest — — — (74) — (74) — Gains on divestiture of certain businesses — — — — — — (37) Pre-provision net revenue - adjusted(1)(2) $2,869 $2,565 $2,446 $2,227 $2,459 $10,107 $9,680

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A-12 Non-GAAP reconciliations Return on average assets ($ in millions) (1) The adjusted performance ratios, including adjusted return on average assets, adjusted return on average common shareholders' equity, and adjusted return on average tangible common shareholders' equity, are non-GAAP in that they exclude merger-related and restructuring charges, selected items, and, in the case of return on average tangible common shareholders' equity, amortization of intangible assets. Truist's management uses these measures in their analysis of the Corporation's performance. Truist's management believes these measures provide a greater understanding of ongoing operations and enhance comparability of results with prior periods, as well as demonstrate the effects of significant gains and charges. These measures are not necessarily comparable to similar measures that may be presented by other companies. As of / Quarter Ended Year Ended Dec. 31 Sept. 30 June 30 March 31 Dec. 31 Dec. 31 Dec. 31 2022 2022 2022 2022 2021 2022 2021 Net income - GAAP $1,682 $1,637 $1,532 $1,416 $1,602 $6,267 $6,437 Merger-related and restructuring charges 87 48 92 166 163 393 631 Securities (gains) losses — 1 — 53 — 54 — Loss (gain) on early extinguishment of debt — — (30) — — (30) (3) Incremental operating expenses related to the merger 43 69 89 155 165 356 592 Charitable contribution — — — — — — 153 Professional fee accrual — — — — — — 23 Acceleration for cash flow hedge unwind — — — — — — 28 Gain on redemption of noncontrolling equity interest — — — (57) — (57) — Numerator - adjusted(1) $1,812 $1,755 $1,683 $1,733 $1,930 $6,983 $7,861 Average assets $552,959 $545,606 $540,568 $535,981 $534,911 $543,830 $522,385 Return on average assets - GAAP 1.21 % 1.19 % 1.14 % 1.07 % 1.19 % 1.15 % 1.23 % Return on average assets - adjusted(1) 1.30 1.28 1.25 1.31 1.43 1.28 1.50

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A-13 Non-GAAP reconciliations Calculations of tangible common equity and related measures ($ in millions, except per share data, shares in thousands) (1) Tangible common equity and related measures are non-GAAP measures that exclude the impact of intangible assets, net of deferred taxes, and their related amortization. These measures are useful for evaluating the performance of a business consistently, whether acquired or developed internally. Truist's management uses these measures to assess profitability, returns relative to balance sheet risk, and shareholder value. These measures are not necessarily comparable to similar measures that may be presented by other companies. As of / Quarter Ended Year Ended Dec. 31 Sept. 30 June 30 March 31 Dec. 31 Dec. 31 Dec. 31 2022 2022 2022 2022 2021 2022 2021 Common shareholders' equity $53,841 $54,115 $56,302 $58,348 $62,598 Less: Intangible assets, net of deferred taxes 29,908 29,752 29,095 29,229 28,772 Tangible common shareholders' equity(1) $23,933 $24,363 $27,207 $29,119 $33,826 Outstanding shares at end of period 1,326,829 1,326,766 1,326,393 1,331,414 1,327,818 Common shareholders' equity per common share $40.58 $40.79 $42.45 $43.82 $47.14 Tangible common shareholders' equity per common share(1) 18.04 18.36 20.51 21.87 25.47 Net income available to common shareholders $1,610 $1,536 $1,454 $1,327 $1,524 $5,927 $6,033 Plus amortization of intangibles, net of tax 125 107 109 105 110 446 441 Tangible net income available to common shareholders(1) $1,735 $1,643 $1,563 $1,432 $1,634 $6,373 $6,474 Average common shareholders' equity $54,823 $56,813 $56,803 $60,117 $61,807 $57,124 $62,112 Less: Average intangible assets, net of deferred taxes 29,891 29,035 29,173 28,905 27,523 29,253 26,897 Average tangible common shareholders' equity(1) $24,932 $27,778 $27,630 $31,212 $34,284 $27,871 $35,215 Return on average common shareholders' equity 11.7 % 10.7 % 10.3 % 9.0 % 9.8 % 10.4 % 9.7 % Return on average tangible common shareholders' equity(1) 27.6 23.5 22.7 18.6 18.9 22.9 18.4

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A-14 Non-GAAP reconciliations Return on average common equity and average tangible common equity ($ in millions) As of / Quarter Ended Year Ended Dec. 31 Sept. 30 June 30 March 31 Dec. 31 Dec. 31 Dec. 31 2022 2022 2022 2022 2021 2022 2021 Net income available to common shareholders - GAAP $1,610 $1,536 $1,454 $1,327 $1,524 $5,927 $6,033 Merger-related and restructuring charges 87 48 92 166 163 393 631 Securities (gains) losses — 1 — 53 — 54 — Loss (gain) on early extinguishment of debt — — (30) — — (30) (3) Incremental operating expenses related to the merger 43 69 89 155 165 356 592 Charitable contribution — — — — — — 153 Professional fee accrual — — — — — — 23 Acceleration for cash flow hedge unwind — — — — — — 28 Gain on redemption of noncontrolling equity interest — — — (57) — (57) — Net income available to common shareholders - adjusted 1,740 1,654 1,605 1,644 1,852 6,643 7,457 Amortization of intangibles, net of tax 125 107 109 105 110 446 441 Net income available to common shareholders - tangible adjusted $1,865 $1,761 $1,714 $1,749 $1,962 $7,089 $7,898 Average common shareholders' equity $54,823 $56,813 $56,803 $60,117 $61,807 $57,124 $62,112 Plus: Estimated impact of adjustments on denominator 65 59 76 158 164 358 712 Average common shareholders' equity - adjusted 54,888 56,872 56,879 60,275 61,971 57,482 62,824 Less: Average intangible assets 29,891 29,035 29,173 28,905 27,523 29,253 26,897 Average tangible common shareholders' equity - adjusted $24,997 $27,837 $27,706 $31,370 $34,448 $28,229 $35,927 Return on average common shareholders equity - GAAP 11.7 % 10.7 % 10.3 % 9.0 % 9.8 % 10.4 % 9.7 % Return on average common shareholders equity - adjusted(1) 12.6 % 11.5 % 11.3 % 11.1 % 11.9 % 11.6 % 11.9 % Return on average tangible common shareholders equity - adjusted(1) 29.6 25.1 24.8 22.6 22.6 25.1 22.0 (1) The adjusted performance ratios, including adjusted return on average assets, adjusted return on average common shareholders' equity, and adjusted return on average tangible common shareholders' equity, are non-GAAP in that they exclude merger-related and restructuring charges, selected items, and, in the case of return on average tangible common shareholders' equity, amortization of intangible assets. Truist's management uses these measures in their analysis of the Corporation's performance. Truist's management believes these measures provide a greater understanding of ongoing operations and enhance comparability of results with prior periods, as well as demonstrate the effects of significant gains and charges. These measures are not necessarily comparable to similar measures that may be presented by other companies.

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A-15 Quarter Ended Year Ended Dec. 31 Sept. 30 June 30 March 31 Dec. 31 Dec. 31 Dec. 31 2022 2022 2022 2022 2021 2022 2021 Net interest income - GAAP $3,981 $3,745 $3,407 $3,183 $3,243 $14,316 $13,006 Taxable-equivalent adjustment 50 38 28 26 24 142 108 Net interest income - taxable-equivalent 4,031 3,783 3,435 3,209 3,267 14,458 13,114 Accretion of mark on acquired loans (80) (96) (189) (191) (217) (556) (1,051) Accretion of mark on acquired liabilities (14) (17) (15) (19) (20) (65) (89) Net interest income - core(1) $3,937 $3,670 $3,231 $2,999 $3,030 $13,837 $11,974 Average earning assets - GAAP $492,805 $482,349 $475,818 $469,940 $470,885 $480,297 $458,045 Average balance - mark on acquired loans 787 875 1,029 1,247 1,449 949 1,827 Average earning assets - core(1) $493,592 $483,224 $476,847 $471,187 $472,334 $481,246 $459,872 Annualized net interest margin: Reported - taxable-equivalent 3.25 % 3.12 % 2.89 % 2.76 % 2.76 % 3.01 % 2.86 % Core(1) 3.17 3.02 2.72 2.57 2.55 2.88 2.60 Non-GAAP reconciliations Core NIM ($ in millions) (1) Core net interest margin is a non-GAAP measure that adjusts net interest margin to exclude the impact of purchase accounting. The purchase accounting marks and related amortization for loans, deposits, and long-term debt from SunTrust and other acquisitions are excluded to approximate the yields paid by clients. Truist's management believes the adjustments to the calculation of net interest margin for certain assets and liabilities acquired provide investors with useful information related to the performance of Truist's earning assets. These measures are not necessarily comparable to similar measures that may be presented by other companies.

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A-16 Non-GAAP reconciliations Insurance Holdings adjusted EBITDA ($ in millions) (1) EBITDA is a non-GAAP measurement of operating profitability that is calculated by adding back interest, taxes, depreciation, and amortization to net income. Truist's management also adds back merger- related and restructuring charges, incremental operating expenses related to the merger, and other selected items. Truist's management uses this measure in its analysis of the Corporation's Insurance Holdings segment. Truist's management believes this measure provides a greater understanding of ongoing operations and enhances comparability of results with prior periods, as well as demonstrates the effects of significant gains and charges. Quarter Ended Year Ended Dec. 31 Sept. 30 June 30 March 31 Dec. 31 Dec. 31 Dec. 31 2022 2022 2022 2022 2021 2022 2021 Segment net interest income $46 $33 $28 $24 $23 $131 $101 Noninterest income 801 734 833 737 681 3,105 2,664 Total revenue $847 $767 $861 $761 $704 $3,236 $2,765 Segment net income (loss) - GAAP $121 $94 $179 $152 $127 $546 $530 Provision (benefit) for income taxes 40 32 58 49 32 179 156 Depreciation & amortization 39 34 33 33 24 139 109 EBITDA 200 160 270 234 183 864 795 Merger-related and restructuring charges, net 18 21 8 7 8 54 28 Incremental operating expenses related to the merger — — — — 4 — 7 Adjusted EBITDA(1) $218 $181 $278 $241 $195 $918 $830 Adjusted EBITDA(1) margin 25.7 % 23.5 % 32.3 % 31.6 % 27.7 % 28.3 % 30.0 %

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To inspire and build better lives and communities

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