Document:

EX-4.7

 Exhibit 4.7 
  

 
 GUARANTEE
AGREEMENT 
 by and between 

SUNTRUST BANKS, INC., 
 as
Guarantor 
 and 
 U.S. BANK
NATIONAL ASSOCIATION, 
 as Guarantee Trustee 

relating to 
 SUNTRUST PREFERRED
CAPITAL I 
 Dated as of October 25, 2006 
  

 

 SUNTRUST BANKS, INC. 

Certain Sections of this Guarantee Agreement relating to Sections 310 through 318, inclusive, of the Trust 

Indenture Act of 1939: 
  

							
	 Trust Indenture

Act Section
	 	 	 	 	  	 Guarantee Section

	 § 310(a)
	 		 		  	4.1(a)
	 (b)
	 		 		  	2.8, 4.1(c)
	 (c)
	 		 		  	Not applicable
	 § 311(a)
	 		 		  	2.2(b)
	 (b)
	 		 		  	2.2(b)
	 § 312(a)
	 		 		  	2.2(a)
	 (b)
	 		 		  	2.2(b)
	 § 313
	 		 		  	2.3
	 § 314(a)
	 		 		  	2.4
	 (b)
	 		 		  	Not applicable
	 (c)
	 		 		  	2.5
	 (d)
	 		 		  	Not applicable
	 (e)
	 		 		  	1.1, 2.4
	 (f)
	 		 		  	2.1, 3.2
	 § 315(a)
	 		 		  	3.1(d)
	 (b)
	 		 		  	2.7
	 (c)
	 		 		  	3.1(c)
	 (d)
	 		 		  	3.1(d)
	 (e)
	 		 		  	Not applicable
	 § 316(a)
	 		 		  	1.1, 2.6, 5.4
	 (b)
	 		 		  	5.3
	 (c)
	 		 		  	Not applicable
	 § 317(a)
	 		 		  	Not applicable
	 (b)
	 		 		  	Not applicable
	 § 318(a)
	 		 		  	2.1
	 (b)
	 		 		  	2.1

 Note: This reconciliation and tie shall not, for any purpose be deemed to be part of the Guarantee Agreement. 

 

 TABLE OF CONTENTS 

ARTICLE I 

Definitions 
  

							
	 	 	 	  	Page	 
	 Section 1.1
	 	Definitions.	  	 	1	 
			
		 	ARTICLE II	  			
			
		 	Trust Indenture Act	  			
			
	 Section 2.1
	 	Trust Indenture Act; Application.	  	 	4	 
	 Section 2.2
	 	List of Holders.	  	 	5	 
	 Section 2.3
	 	Reports by the Guarantee Trustee.	  	 	5	 
	 Section 2.4
	 	Periodic Reports to the Guarantee Trustee.	  	 	5	 
	 Section 2.5
	 	Evidence of Compliance with Conditions Precedent.	  	 	5	 
	 Section 2.6
	 	Events of Default; Waiver.	  	 	5	 
	 Section 2.7
	 	Events of Default; Notice.	  	 	6	 
	 Section 2.8
	 	Conflicting Interests.	  	 	6	 
			
		 	ARTICLE III	  			
			
		 	Powers, Duties and Rights of the Guarantee Trustee	  			
			
	 Section 3.1
	 	Powers and Duties of the Guarantee Trustee.	  	 	6	 
	 Section 3.2
	 	Certain Rights of Guarantee Trustee.	  	 	8	 
	 Section 3.3
	 	Compensation; Indemnity; Fees.	  	 	9	 
			
		 	ARTICLE IV	  			
			
		 	Guarantee Trustee	  			
			
	 Section 4.1
	 	Guarantee Trustee; Eligibility.	  	 	9	 
	 Section 4.2
	 	Appointment, Removal and Resignation of the Guarantee Trustee.	  	 	10	 
			
		 	ARTICLE V	  			
			
		 	Guarantee	  			
			
	 Section 5.1
	 	Guarantee.	  	 	11	 
	 Section 5.2
	 	Waiver of Notice and Demand.	  	 	11	 
	 Section 5.3
	 	Obligations Not Affected.	  	 	11	 
	 Section 5.4
	 	Rights of Holders.	  	 	12	 
	 Section 5.5
	 	Guarantee of Payment.	  	 	12	 
	 Section 5.6
	 	Subrogation.	  	 	12	 
	 Section 5.7
	 	Independent Obligations.	  	 	12	 

  

  
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GUARANTEE AGREEMENT 

 ARTICLE VI 

Covenants and Subordination 
  

							
	 Section 6.1
	 	Subordination.	  	 	13	 
	 Section 6.2
	 	Pari Passu Guarantees.	  	 	13	 
	
	ARTICLE VII	  

	
	Termination	  

			
	 Section 7.1
	 	Termination.	  	 	13	 
	
	ARTICLE VIII	  

	
	Miscellaneous	  

			
	 Section 8.1
	 	Successors and Assigns.	  	 	14	 
	 Section 8.2
	 	Amendments.	  	 	14	 
	 Section 8.3
	 	Notices.	  	 	14	 
	 Section 8.4
	 	Benefit.	  	 	15	 
	 Section 8.5
	 	Governing Law.	  	 	15	 

  
 -ii- 

GUARANTEE AGREEMENT 

 GUARANTEE AGREEMENT, dated as of October
25, 2006, between SUNTRUST BANKS, INC., a Georgia corporation (the “Guarantor”), having its principal office at 303 Peachtree Street, NE, Atlanta, Georgia 30308, and
U.S. BANK NATIONAL ASSOCIATION, as trustee (the “Guarantee Trustee”), for the benefit of the Holders from time to time of the Trust Preferred Securities of SunTrust
Preferred Capital I, a Delaware statutory trust (the ”Issuer Trust”). 
 RECITALS OF
THE GUARANTOR 
 Pursuant to an Underwriting Agreement, dated as of October 25, 2006, among the Guarantor,
the Issuer Trust and the underwriters named therein, the Issuer Trust is issuing $500,000 aggregate Liquidation Amount (as defined in the Declaration of Trust) of Trust Preferred Securities having the terms set forth in an Amended and Restated
Declaration of Trust, of even date herewith (the “Declaration of Trust”), among SunTrust Banks, Inc., as Sponsor, the Property Trustee, the Delaware Trustee and the Administrative Trustees (each as named therein) and the
holders from time to time of the Trust Securities. 
 The Trust Preferred Securities will be issued by the Issuer Trust, and the proceeds
thereof, together with the proceeds from the issuance of the Issuer Trust’s Common Securities, will be used to purchase the Notes, which initially will be pledged by the Issuer Trust, acting through U.S. Bank National Association, as Property
Trustee for the Issuer Trust (the “Property Trustee”), to The Bank of New York Trust Company, N.A., as collateral agent for the Guarantor, pursuant to the Collateral Agreement, dated as of the date hereof, among the Guarantor, to
The Bank of New York Trust Company, N.A., as Collateral Agent, Custodial Agent, Securities Intermediary and Securities Registrar, and the Issuer Trust (acting through the Property Trustee). 

As an incentive for the Holders to purchase the Trust Preferred Securities, the Guarantor desires irrevocably and unconditionally to agree, to
the extent set forth herein, to pay to the Holders of the Trust Preferred Securities the Guarantee Payments and to make certain other payments on the terms and conditions set forth herein. 

NOW, THEREFORE, THIS GUARANTEE AGREEMENT
WITNESSETH: For and in consideration of the purchase of Trust Preferred Securities by each Holder, which purchase the Guarantor hereby acknowledges shall benefit the Guarantor, the Guarantor executes and delivers this Guarantee
Agreement for the benefit of the Holders from time to time. 
 ARTICLE I 

Definitions 
 Section 1.1
Definitions. 
 For all purposes of this Guarantee Agreement, except as otherwise expressly provided or unless the context otherwise
requires: 
 (a) The terms defined in this Article have the meanings assigned to them in this Article, and include the plural as well as the
singular. 
 (b) All other terms used herein that are defined in the Trust Indenture Act, either directly or by reference therein, have the
meanings assigned to them therein. 

  
 GUARANTEE
AGREEMENT 

 (c) All accounting terms not otherwise defined herein have the meanings assigned to them in
accordance with generally accepted accounting principles, and the term “generally accepted accounting principles” with respect to any computation required or permitted hereunder shall mean such accounting principles that are generally
accepted in the United States at the date or time of such computation; provided that when two or more principles are so generally accepted, it shall mean that set of principles consistent with those in use by the Guarantor. 

(d) The words “hereby,” “herein,” “hereof” and “hereunder” and other words of similar import refer to
this Guarantee Agreement as a whole and not to any particular Article, Section or other subdivision. 
 (e) Unless the context otherwise
requires, any reference to an “Article”, a “Section” or another subdivision refers to an Article, a Section or another subdivisions, as the case may be, of this Guarantee Agreement. 

“Affiliate” of any specified Person means any other Person directly or indirectly controlling or controlled by or under
direct or indirect common control with such specified Person. For the purposes of this definition, “control” when used with respect to any specified Person means the power to direct the management and policies of such Person, directly or
indirectly, whether through the ownership of voting securities, by contract or otherwise; and the terms “controlling” and “controlled” have meanings correlative to the foregoing. 

“Authorized Officer” of any Person means any officer of such Person or any person authorized by or pursuant to a resolution
of the Board of Directors (or equivalent body) of such Person. 
 “Base Indenture” has the meaning specified in the
Declaration of Trust. 
 “Board of Directors” means the board of directors of the Guarantor or any committee of that board
duly authorized to act hereunder. 
 “Capital PPS” has the meaning specified in the Declaration of Trust. 

“Class” has the meaning specified in the Declaration of Trust. 

“Common Security” has the meaning specified in the Declaration of Trust. 

“Declaration of Trust” means the Amended and Restated Declaration of Trust of the Issuer Trust referred to in the recitals to
this Guarantee Agreement, as modified, amended or supplemented from time to time. 
 “Distributions” has the meaning
specified in the Declaration of Trust. 
 “Event of Default” means (i) a default by the Guarantor in any of its
payment obligations under this Guarantee Agreement or (ii) a default by the Guarantor in any other obligation hereunder that remains unremedied for 30 days. 

“Guarantee Agreement” means this Guarantee Agreement, as modified, amended or supplemented from time to time. 

“Guarantee Payments” means the following payments or distributions, without duplication, with respect to the Trust Preferred
Securities of any Class, to the extent not paid or made by or on behalf of the Issuer Trust: (i) any accumulated and unpaid Distributions required to be paid on the Trust Preferred Securities of such Class, to the extent the Issuer Trust shall
have funds on hand available 
  

  
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GUARANTEE AGREEMENT 

 therefor at such time; (ii) the Redemption Price with respect to any Trust Preferred Securities called
for redemption by the Issuer Trust (other than in connection with the redemption of Capital PPS in exchange for Notes), to the extent the Issuer Trust shall have funds on hand available therefor at such time; and (iii) upon a voluntary or
involuntary dissolution, winding-up or liquidation of the Issuer Trust, other than in connection with the distribution of a Like Amount of Corresponding Assets (as defined in the Declaration of Trust) to the
Holders of Trust Preferred Securities and Trust Common Securities, the lesser of (a) the Liquidation Distribution with respect to each Class of the Trust Preferred Securities, to the extent that the Issuer Trust shall have funds on hand
available therefor at such time and (b) the amount of assets of the Issuer Trust remaining available for distribution to Holders of the Trust Preferred Securities on liquidation of the Issuer Trust. 

“Guarantee Trustee” means U.S. Bank National Association, solely in its capacity as Guarantee Trustee and not in its
individual capacity, until a Successor Guarantee Trustee has been appointed and has accepted such appointment pursuant to the terms of this Guarantee Agreement, and thereafter means each such Successor Guarantee Trustee. 

“Guarantor” has the meaning specified in the first paragraph of this Guarantee Agreement. 

“Holder” means any Holder (as defined in the Declaration of Trust) of any Trust Preferred Securities; provided,
however, that in determining whether the holders of the requisite percentage of Trust Preferred Securities of any Class or Classes have given any request, notice, consent or waiver hereunder, “Holder” shall not include the
Guarantor, the Guarantee Trustee, or any Affiliate of the Guarantor or the Guarantee Trustee. 
 “Indenture” has the
meaning specified in the Declaration of Trust. 
 “Indenture Supplement” has the meaning specified in the Declaration of
Trust. 
 “Indemnified Person” has the meaning specified in Section 3.3(c). 

“Issuer Trust” has the meaning specified in the first paragraph of this Guarantee Agreement. 

“Liquidation Distribution” has the meaning specified in the Declaration of Trust. 

“List of Holders” has the meaning specified in Section 2.2(a). 

“Majority in Liquidation Amount” has the meaning specified in the Declaration of Trust. 

“Normal PPS” has the meaning specified in the Declaration of Trust. 

“Notes” has the meaning specified in the Declaration of Trust. 

“Officers’ Certificate” means, with respect to any Person, a certificate signed by any two Authorized Officers of such
person. Any Officers’ Certificate delivered with respect to compliance with a condition or covenant provided for in this Guarantee Agreement shall include: 

(i) a statement by each officer signing the Officers’ Certificate that such officer has read the covenant or condition and
the definitions relating thereto; 
  

  
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GUARANTEE AGREEMENT 

 (ii) a brief statement of the nature and scope of the examination or
investigation undertaken by such officer in rendering the Officers’ Certificate; 
 (iii) a statement that such officer
has made such examination or investigation as, in such officer’s opinion, is necessary to enable such officer to express an informed opinion as to whether or not such covenant or condition has been complied with; and 

(iv) a statement as to whether, in the opinion of such officer, such condition or covenant has been complied with. 

“Person” means any individual, corporation, partnership, joint venture, trust, unincorporated organization or government or
any agency or political subdivision thereof. 
 “Redemption Price” has the meaning specified in the Declaration of Trust.

 “Responsible Officer” means, with respect to the Guarantee Trustee, any Senior Vice President, any Vice President, any
Assistant Vice President, the Secretary, any Assistant Secretary, the Treasurer, any Assistant Treasurer, any Trust Officer, any Assistant Trust Officer, any Financial Services Officer or any other officer of the Corporate Trust Department of the
Guarantee Trustee having direct responsibility for the administration of this Guarantee Agreement and also means, with respect to a particular matter, any other officer to whom such matter is referred because of that officer’s knowledge of and
familiarity with the particular subject. 
 “Senior Debt” has the meaning specified in the Indenture. 

“Stock Purchase Date” has the meaning specified in the Stock Purchase Contract Agreement, dated as of the date hereof,
between the Guarantor and the Issuer Trust (acting through the Property Trustee). 
 “Successor Guarantee Trustee” means a
successor Guarantee Trustee possessing the qualifications to act as Guarantee Trustee under Section 4.1. 
 “Trust Indenture
Act” means the Trust Indenture Act of 1939 (15 U.S.C. §§ 77aaa-77bbb), as amended and as in effect on the date of this Guarantee Agreement, except as provided in Section 9.5 of the Indenture. 

“Trust Preferred Securities” has the meaning specified in the Declaration of Trust. 

“Vice President” when used with respect to the Guarantor means any duly appointed vice president, whether or not designated
by a number or a word or words added before or after the title “vice president.” 
 ARTICLE II 

Trust Indenture Act 
 Section 2.1
Trust Indenture Act; Application. 
 Except as otherwise expressly provided herein, the Trust Indenture Act shall apply as a matter
of contract to this Guarantee Agreement for purposes of interpretation, construction and defining the rights and obligations hereunder, and this Guarantee Agreement, the Guarantor and the Guarantee 

 

  
 -4- 

GUARANTEE AGREEMENT 

 Trustee shall be deemed for all purposes hereof to be subject to and governed by the Trust Indenture Act to
the same extent as would be the case if this Guarantee Agreement were qualified under the Trust Indenture Act on the date hereof. Except as otherwise expressly provided herein, if and to the extent that any provision of this Guarantee Agreement
limits, qualifies or conflicts with the duties imposed by Sections 310 to 317, inclusive, of the Trust Indenture Act, such imposed duties shall control. 

Section 2.2 List of Holders. 
 (a)
The Guarantor shall furnish or cause to be furnished to the Guarantee Trustee (a) semiannually, on or before May 15 of each year, a list, in such form as the Guarantee Trustee may reasonably require, of the names and addresses of the
Holders (a “List of Holders”) as of a date not more than 15 days prior to the delivery thereof, and (b) at such other times as the Guarantee Trustee may request in writing, within 30 days after the receipt by the Guarantor of
any such request, a List of Holders as of a date not more than 15 days prior to the time such list is furnished, in each case to the extent such information is in the possession or control of the Guarantor and has not otherwise been received by the
Guarantee Trustee in its capacity as such. Notwithstanding the preceding sentence, the Guarantor shall not be obligated to provide such List of Holders at any time the List of Holders does not differ from the most recent List of Holders given to the
Guarantee Trustee by the Guarantor. The Guarantee Trustee may destroy any List of Holders previously given to it on receipt of a new List of Holders. 

(b) The Guarantee Trustee shall comply with the requirements of Section 311(a), Section 311(b) and Section 312(b) of the Trust
Indenture Act. 
 Section 2.3 Reports by the Guarantee Trustee. 

Within 60 days after May 15 each year (commencing with the year of the first anniversary of the issuance of the Trust Preferred
Securities), the Guarantee Trustee shall provide to the Holders such reports as are required by Section 313 of the Trust Indenture Act, if any, in the form and in the manner provided by Section 313 of the Trust Indenture Act. The Guarantee
Trustee shall also comply with the requirements of Section 313(d) of the Trust Indenture Act. 
 Section 2.4 Periodic Reports to the Guarantee
Trustee. 
 The Guarantor shall provide to the Guarantee Trustee and the Holders such documents, reports and information, if any, as
required by Section 314 of the Trust Indenture Act and the compliance certificate required by Section 314 of the Trust Indenture Act, in the form, in the manner and at the times required by Section 314 of the Trust Indenture Act. 

Section 2.5 Evidence of Compliance with Conditions Precedent. 

The Guarantor shall provide to the Guarantee Trustee such evidence of compliance with such conditions precedent, if any, provided for in this
Guarantee Agreement that relate to any of the matters set forth in Section 314(c) of the Trust Indenture Act. Any certificate or opinion required to be given by an officer of the Guarantor pursuant to Section 314(c)(1) may be given in the
form of an Officers’ Certificate. 
 Section 2.6 Events of Default; Waiver. 

The Holders of at least a Majority in Liquidation Amount of the Trust Preferred Securities may, by vote, on behalf of the Holders of all the
Trust Preferred Securities, waive any past default or Event of Default and its consequences; provided that each Class of Trust Preferred Securities 
  

  
 -5- 

GUARANTEE AGREEMENT 

 shall be entitled, in the case of any default or Event of Default that affects such Class differently
from the other Class or Classes, to vote separately as a Class with respect thereto. Upon such waiver, any such default or Event of Default shall cease to exist, and any default or Event of Default arising therefrom shall be deemed to have
been cured, for every purpose of this Guarantee Agreement, but no such waiver shall extend to any subsequent or other default or Event of Default or impair any right consequent thereon. 

Section 2.7 Events of Default; Notice. 

(a) The Guarantee Trustee shall, within 90 days after the occurrence of an Event of Default known to the Guarantee Trustee, transmit by mail,
first class postage prepaid, to the Holders, notice of any such Event of Default known to the Guarantee Trustee, unless such Event of Default has been cured before the giving of such notice, provided that, except in the case of a default in
the payment of a Guarantee Payment, the Guarantee Trustee shall be protected in withholding such notice if and so long as the Board of Directors, the executive committee or a trust committee of directors and/or Responsible Officers of the Guarantee
Trustee in good faith determines that the withholding of such notice is in the interests of the Holders. 
 (b) The Guarantee Trustee shall
not be deemed to have knowledge of any Event of Default unless the Guarantee Trustee shall have received written notice, or a Responsible Officer charged with the administration of this Guarantee Agreement shall have obtained actual knowledge, of
such Event of Default. 
 Section 2.8 Conflicting Interests. 

The Declaration of Trust and the Indenture shall be deemed to be specifically described in this Guarantee Agreement for the purposes of clause
(i) of the first proviso contained in Section 310(b) of the Trust Indenture Act. 
 ARTICLE III 

Powers, Duties and Rights of the Guarantee Trustee 

Section 3.1 Powers and Duties of the Guarantee Trustee. 

(a) This Guarantee Agreement shall be held by the Guarantee Trustee for the benefit of the Holders, and the Guarantee Trustee shall not
transfer this Guarantee Agreement to any Person except to a Successor Guarantee Trustee on acceptance by such Successor Guarantee Trustee of its appointment to act as Guarantee Trustee hereunder. The right, title and interest of the Guarantee
Trustee, as such, hereunder shall automatically vest in any Successor Guarantee Trustee, upon acceptance by such Successor Guarantee Trustee of its appointment hereunder, and such vesting and cessation of title shall be effective whether or not
conveyancing documents have been executed and delivered pursuant to the appointment of such Successor Guarantee Trustee. 
 (b) If an Event
of Default has occurred and is continuing of which the Guarantee Trustee is deemed to have knowledge pursuant to Section 2.7(b) , the Guarantee Trustee shall enforce this Guarantee Agreement for the benefit of the Holders. 

(c) The Guarantee Trustee, before the occurrence of any Event of Default and after the curing of all Events of Default that may have occurred,
shall undertake to perform only such duties as are specifically set forth in this Guarantee Agreement (including pursuant to Section 2.1), and no implied covenants shall be read into this Guarantee Agreement against the Guarantee Trustee. If an
Event of 
  

  
 -6- 

GUARANTEE AGREEMENT 

 Default of which the Guarantee Trustee is deemed to have knowledge pursuant to Section 2.7(b) has
occurred (that has not been cured or waived pursuant to Section 2.6), the Guarantee Trustee shall exercise such of the rights and powers vested in it by this Guarantee Agreement, and use the same degree of care and skill in its exercise thereof
as a prudent person would exercise or use under the circumstances in the conduct of his or her own affairs. 
 (d) No provision of this
Guarantee Agreement shall be construed to relieve the Guarantee Trustee from liability for its own negligent action, its own negligent failure to act or its own willful misconduct, except that: 

(i) prior to the occurrence of any Event of Default and after the curing or waiving of all such Events of Default that may have
occurred: 
 (A) the duties and obligations of the Guarantee Trustee shall be determined solely by the express provisions of
this Guarantee Agreement (including pursuant to Section 2.1), and the Guarantee Trustee shall not be liable except for the performance of such duties and obligations as are specifically set forth in this Guarantee Agreement (including pursuant
to Section 2.1); and 
 (B) in the absence of bad faith on the part of the Guarantee Trustee, the Guarantee Trustee may
conclusively rely, as to the truth of the statements and the correctness of the opinions expressed therein, upon any certificates or opinions furnished to the Guarantee Trustee and conforming to the requirements of this Guarantee Agreement (but in
the case of any such certificates or opinions that by any provision hereof or of the Trust Indenture Act are specifically required to be furnished to the Guarantee Trustee, the Guarantee Trustee shall be under a duty to examine the same to determine
whether or not they conform to the requirements of this Guarantee Agreement); 
 (ii) the Guarantee Trustee shall not be
liable for any error of judgment made in good faith by a Responsible Officer of the Guarantee Trustee, unless it shall be proved that the Guarantee Trustee was negligent in ascertaining the pertinent facts upon which such judgment was made; 

(iii) the Guarantee Trustee shall not be liable with respect to any action taken or omitted to be taken by it in good faith in
accordance with the direction of the Holders of not less than a Majority in Liquidation Amount of the relevant Class or Classes of Trust Preferred Securities relating to the time, method and place of conducting any proceeding for any remedy
available to the Guarantee Trustee, or exercising any trust or power conferred upon the Guarantee Trustee under this Guarantee Agreement; and 

(iv) subject to Section 3.1(b), no provision of this Guarantee Agreement shall require the Guarantee Trustee to expend or
risk its own funds or otherwise incur personal financial liability in the performance of any of its duties or in the exercise of any of its rights or powers, if the Guarantee Trustee shall have reasonable grounds for believing that the repayment of
such funds or liability is not reasonably assured to it under the terms of this Guarantee Agreement or adequate indemnity against such risk or liability is not reasonably assured to it. 

  
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GUARANTEE AGREEMENT 

 Section 3.2 Certain Rights of Guarantee Trustee. 

(a) Subject to the provisions of Section 3.1: 

(i) The Guarantee Trustee may rely and shall be fully protected in acting or refraining from acting upon any resolution,
certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, other evidence of indebtedness or other paper or document reasonably believed by it to be genuine and to have been signed, sent
or presented by the proper party or parties. 
 (ii) Any direction or act of the Guarantor contemplated by this Guarantee
Agreement shall be sufficiently evidenced by an Officers’ Certificate unless otherwise prescribed herein. 
 (iii)
Whenever, in the administration of this Guarantee Agreement, the Guarantee Trustee shall deem it desirable that a matter be proved or established before taking, suffering or omitting to take any action hereunder, the Guarantee Trustee (unless other
evidence is herein specifically prescribed) may, in the absence of bad faith on its part, request and rely upon an Officers’ Certificate which, upon receipt of such request from the Guarantee Trustee, shall be promptly delivered by the
Guarantor. 
 (iv) The Guarantee Trustee may consult with legal counsel, and the written advice or opinion of such legal
counsel with respect to legal matters shall be full and complete authorization and protection in respect of any action taken, suffered or omitted to be taken by it hereunder in good faith and in accordance with such advice or opinion. Such legal
counsel may be legal counsel to the Guarantor or any of its Affiliates and may be one of its employees. The Guarantee Trustee shall have the right at any time to seek instructions concerning the administration of this Guarantee Agreement from any
court of competent jurisdiction. 
 (v) The Guarantee Trustee shall be under no obligation to exercise any of the rights or
powers vested in it by this Guarantee Agreement at the request or direction of any Holder unless such Holder shall have provided to the Guarantee Trustee such adequate security and indemnity as would satisfy a reasonable person in the position of
the Guarantee Trustee against the costs, expenses (including attorneys’ fees and expenses) and liabilities that might be incurred by it in complying with such request or direction, including such reasonable advances as may be requested by the
Guarantee Trustee; provided that nothing contained in this Section 3.2(a)(v) shall be taken to relieve the Guarantee Trustee, upon the occurrence of an Event of Default, of its obligation to exercise the rights and powers vested in it by
this Guarantee Agreement. 
 (vi) The Guarantee Trustee shall not be bound to make any investigation into the facts or
matters stated in any resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, other evidence of indebtedness or other paper or document, but the Guarantee Trustee, in its
discretion, may make such further inquiry or investigation into such facts or matters as it may see fit at the expense of the Guarantor and shall incur no liability of any kind by reason of such inquiry or investigation. 

(vii) The Guarantee Trustee may execute any of the trusts or powers hereunder or perform any duties hereunder either directly
or by or through its agents or attorneys, and the Guarantee Trustee shall not be responsible for any misconduct or negligence on the part of any such agent or attorney appointed by it with due care hereunder. 

(viii) Whenever in the administration of this Guarantee Agreement the Guarantee Trustee shall deem it desirable to receive
instructions with respect to enforcing any remedy or right or taking any other action hereunder, the Guarantee Trustee (A) may request instructions from the Holders, (B) may refrain from enforcing such remedy or right or taking such other
action until such instructions are received, and (C) shall be protected in acting in accordance with such instructions. 
  

  
 -8- 

GUARANTEE AGREEMENT 

 (b) No provision of this Guarantee Agreement shall be deemed to impose any duty or
obligation on the Guarantee Trustee to perform any act or acts or exercise any right, power, duty or obligation conferred or imposed on it in any jurisdiction in which it shall be illegal, or in which the Guarantee Trustee shall be unqualified or
incompetent in accordance with applicable law, to perform any such act or acts or to exercise any such right, power, duty or obligation. No permissive power or authority available to the Guarantee Trustee shall be construed to be a duty to act in
accordance with such power and authority. 
 Section 3.3 Compensation; Indemnity; Fees. 

The Guarantor agrees: 
 (a) to pay
to the Guarantee Trustee from time to time such reasonable compensation for all services rendered by it hereunder as may be agreed by the Guarantor and the Guarantee Trustee from time to time (which compensation shall not be limited by any provision
of law in regard to the compensation of a trustee of an express trust); 
 (b) except as otherwise expressly provided herein, to reimburse
the Guarantee Trustee upon request for all reasonable expenses, disbursements and advances incurred or made by the Guarantee Trustee in accordance with any provision of this Guarantee Agreement (including the reasonable compensation and the expenses
and disbursements of its agents and counsel), except any such expense, disbursement or advance as shall be determined to have been caused by its own negligence or bad faith; and 

(c) to indemnify the Guarantee Trustee, any Affiliate of the Guarantee Trustee and any officer, director, shareholder, employee, representative
or agent of the Guarantee Trustee (each, an “Indemnified Person”) for, and to hold each Indemnified Person harmless against, any loss, liability, claim, action, suit, cost, damage or expense of any kind or nature whatsoever incurred
without negligence, willful misconduct or bad faith on the part of the Indemnified Person, arising out of or in connection with the acceptance or administration of this Guarantee Agreement, including the costs and expenses of defending itself
against any claim or liability in connection with the exercise or performance of any of its powers or duties hereunder. 
 The Guarantee
Trustee will not claim or exact any lien or charge on any Guarantee Payments as a result of any amount due to it under this Guarantee Agreement. 

The provisions of this Section 3.3 shall survive the termination of this Guarantee Agreement or the resignation or removal of the
Guarantee Trustee. 
 ARTICLE IV 

Guarantee Trustee 
 Section 4.1
Guarantee Trustee; Eligibility. 
 (a) There shall at all times be a Guarantee Trustee that shall: 

(i) not be an Affiliate of the Guarantor; and 
  

  
 -9- 

GUARANTEE AGREEMENT 

 (ii) be a Person that is eligible pursuant to the Trust Indenture Act to act
as such and has a combined capital and surplus of at least $50,000,000, and shall be a corporation meeting the requirements of Section 310(a) of the Trust Indenture Act. If such corporation publishes reports of condition at least annually,
pursuant to law or to the requirements of its supervising or examining authority, then, for the purposes of this Section 4.1 and to the extent permitted by the Trust Indenture Act, the combined capital and surplus of such corporation shall be
deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. 
 (b) If at any time the
Guarantee Trustee shall cease to be eligible to so act under Section 4.1(a), the Guarantee Trustee shall immediately resign in the manner and with the effect set out in Section 4.2. 

(c) If the Guarantee Trustee has or shall acquire any “conflicting interest” within the meaning of Section 310(b) of the Trust
Indenture Act, the Guarantee Trustee and Guarantor shall in all respects comply with the provisions of Section 310(b) of the Trust Indenture Act. 

Section 4.2 Appointment, Removal and Resignation of the Guarantee Trustee. 

(a) Subject to Section 4.2(c), the Guarantee Trustee may be appointed or removed at any time by the action of the Holders of a Majority in
Liquidation Amount of the Trust Preferred Securities delivered to the Guarantee Trustee and the Guarantor (i) for cause or (ii) if a Note Event of Default (as defined in the Declaration of Trust) shall have occurred and be continuing at
any time. 
 (b) Subject to Section 4.2(c), the Guarantee Trustee may resign from office (without need for prior or subsequent
accounting) by giving written notice thereof to the Holders and the Guarantor and by appointing a successor Guarantee Trustee. The Guarantee Trustee shall appoint a successor by requesting from at least three Persons meeting the requirements of
Section 4.1(a) their expenses and charges to serve as the Guarantee Trustee, and selecting the Person who agrees to the lowest expenses and charges. 

(c) The Guarantee Trustee appointed hereunder shall hold office until a Successor Guarantee Trustee shall have been appointed and shall have
accepted such appointment. No removal or resignation of a Guarantee Trustee shall be effective until a Successor Guarantee Trustee has been appointed and has accepted such appointment by written instrument executed by such Successor Guarantee
Trustee and delivered to the Guarantor and, in the case of any resignation, the resigning Guarantee Trustee. 
 (d) If no Successor Guarantee
Trustee shall have been appointed and accepted appointment as provided in this Section 4.2 within 60 days after delivery to the Holders and the Guarantor of a notice of resignation, the resigning Guarantee Trustee may petition, at the expense
of the Guarantor, any court of competent jurisdiction for appointment of a Successor Guarantee Trustee. Such court may thereupon, after prescribing such notice, if any, as it may deem proper, appoint a Successor Guarantee Trustee. 

(e) If a resigning Guarantee Trustee shall fail to appoint a successor, or if a Guarantee Trustee shall be removed or become incapable of
acting as Guarantee Trustee and a replacement shall not be appointed prior to such resignation or removal, or if a vacancy shall occur in the office of Guarantee Trustee for any cause, the Holders of the Trust Preferred Securities, by the action of
the Holders of record of not less than 25% in aggregate Liquidation Amount (as defined in the Declaration of Trust) of the Trust Preferred Securities then Outstanding (as defined in the Declaration of Trust) delivered to such Guarantee Trustee, may
appoint a Successor Guarantee Trustee or Trustees. If no 
  

  
 -10- 

GUARANTEE AGREEMENT 

 successor Guarantee Trustee shall have been so appointed by the Holders of the Trust Preferred Securities
and accepted appointment, any Holder, on behalf of such Holder and all others similarly situated, or any other Guarantee Trustee, may petition any court of competent jurisdiction for the appointment of a successor Guarantee Trustee. 

ARTICLE V 
 Guarantee

 Section 5.1 Guarantee. 
 The
Guarantor irrevocably and unconditionally agrees to pay in full to the Holders the Guarantee Payments (without duplication of amounts theretofore paid by or on behalf of the Issuer Trust), as and when due, regardless of any defense, right of set-off or counterclaim that the Issuer Trust may have or assert, except the defense of payment. The Guarantor’s obligation to make a Guarantee Payment may be satisfied by direct payment of the required amounts
by the Guarantor to the Holders or by causing the Issuer Trust to pay such amounts to the Holders. 
 Section 5.2 Waiver of Notice and Demand.

 The Guarantor hereby waives notice of acceptance of this Guarantee Agreement and of any liability to which it applies or may apply,
presentment, demand for payment, any right to require a proceeding first against the Guarantee Trustee, the Issuer Trust or any other Person before proceeding against the Guarantor, protest, notice of nonpayment, notice of dishonor, notice of
redemption and all other notices and demands. 
 Section 5.3 Obligations Not Affected. 

The obligations, covenants, agreements and duties of the Guarantor under this Guarantee Agreement shall in no way be affected or impaired by
reason of the happening from time to time of any of the following: 
 (a) the release or waiver, by operation of law or otherwise, of the
performance or observance by the Issuer Trust of any express or implied agreement, covenant, term or condition relating to the Trust Preferred Securities to be performed or observed by the Issuer Trust; 

(b) the extension of time for the payment by the Issuer Trust of any portion of the Distributions (other than an extension of time for payment
of Distributions that results from the extension of any interest payment period on the Notes as provided in the Indenture), Redemption Price, Liquidation Distribution or any other sums payable under the terms of the Trust Preferred Securities or the
extension of time for the performance of any other obligation under, arising out of, or in connection with, the Trust Preferred Securities; 

(c) any failure, omission, delay or lack of diligence on the part of the Holders to enforce, assert or exercise any right, privilege, power or
remedy conferred on the Holders pursuant to the terms of the Trust Preferred Securities, or any action on the part of the Issuer Trust granting indulgence or extension of any kind; 

(d) the voluntary or involuntary liquidation, dissolution, receivership, insolvency, bankruptcy, assignment for the benefit of creditors,
reorganization, arrangement, composition or readjustment of debt of, or other similar proceedings affecting, the Issuer Trust or any of the assets of the Issuer Trust; 
  

  
 -11- 

GUARANTEE AGREEMENT 

 (e) any invalidity of, or defect or deficiency in, the Trust Preferred Securities; 

(f) the settlement or compromise of any obligation guaranteed hereby or hereby incurred; or 

(g) any other circumstance whatsoever that might otherwise constitute a legal or equitable discharge or defense of a guarantor (other than
payment of the underlying obligation), it being the intent of this Section 5.3 that the obligations of the Guarantor hereunder shall be absolute and unconditional under any and all circumstances. 

There shall be no obligation of the Holders to give notice to, or obtain the consent of, the Guarantor with respect to the happening of any of
the foregoing. 
 Section 5.4 Rights of Holders. 

The Guarantor expressly acknowledges that: (i) this Guarantee Agreement will be deposited with the Guarantee Trustee to be held for the
benefit of the Holders; (ii) the Guarantee Trustee has the right to enforce this Guarantee Agreement on behalf of the Holders; (iii) the Holders of a Majority in Liquidation Amount of the Trust Preferred Securities of the affected
Class or Classes have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Guarantee Trustee in respect of this Guarantee Agreement or exercising any trust or power conferred upon the
Guarantee Trustee under this Guarantee Agreement; and (iv) any Holder may institute a legal proceeding directly against the Guarantor to enforce its rights under this Guarantee Agreement without first instituting a legal proceeding against the
Guarantee Trustee, the Issuer Trust or any other Person. 
 Section 5.5 Guarantee of Payment. 

This Guarantee Agreement creates a guarantee of payment and not of collection. This Guarantee Agreement will not be discharged except by
payment of the Guarantee Payments in full (without duplication of amounts theretofore paid by the Issuer Trust) or upon the distribution of Notes to Holders as provided in the Declaration of Trust. 

Section 5.6 Subrogation. 
 The
Guarantor shall be subrogated to all rights (if any) of the Holders against the Issuer Trust in respect of any amounts paid to the Holders by the Guarantor under this Guarantee Agreement; provided that the Guarantor shall not (except to the
extent required by mandatory provisions of law) be entitled to enforce or exercise any rights that it may acquire by way of subrogation or any indemnity, reimbursement or other agreement, in all cases as a result of payment under this Guarantee
Agreement, if, at the time of any such payment, any amounts are due and unpaid under this Guarantee Agreement. If any amount shall be paid to the Guarantor in violation of the preceding sentence, the Guarantor agrees to hold such amount in trust for
the Holders and to pay over such amount to the Holders. 
 Section 5.7 Independent Obligations. 

The Guarantor acknowledges that its obligations hereunder are independent of the obligations of the Issuer Trust with respect to the Trust
Preferred Securities and that the Guarantor shall be liable as principal and as debtor hereunder to make Guarantee Payments pursuant to the terms of this Guarantee Agreement notwithstanding the occurrence of any event referred to in subsections
(a) through (g), inclusive, of Section 5.3. 

  
 -12- 

GUARANTEE AGREEMENT 

 ARTICLE VI 

Covenants and Subordination 

Section 6.1 Subordination. 
 The
obligations of the Guarantor under this Guarantee Agreement will constitute unsecured obligations of the Guarantor and will rank subordinate and junior in right of payment and upon liquidation to all Senior Debt of the Guarantor to the extent and in
the manner set forth in the Indenture with respect to the Notes (as defined therein), and the provisions of Article XIII of the Base Indenture will apply, mutatis mutandis, to the obligations of the Guarantor hereunder. The obligations
of the Guarantor hereunder do not constitute Senior Debt of the Guarantor. 
 Section 6.2 Pari Passu Guarantees. 

The obligations of the Guarantor under this Guarantee Agreement shall rank pari passu with the obligations of the Guarantor under
(i) any similar guarantee agreements issued by the Guarantor on behalf of the holders of preferred or capital securities issued by any statutory trust the assets of which consist of debt securities that are pari passu to the Notes and
the proceeds thereof, (ii) the Indenture and the Debt Securities (as defined therein) issued thereunder, (iii) any expense agreements entered into by the Guarantor in connection with the offering of preferred or capital securities by any
statutory trust the assets of which consists of debt securities that are pari passu to the Notes and the proceeds thereof, and (iv) any other security, guarantee or other agreement or obligation that is expressly stated to rank pari
passu with the obligations of the Guarantor under this Guarantee Agreement or with any obligation that ranks pari passu with the obligations of the Guarantor under this Guarantee Agreement. 

ARTICLE VII 

Termination 
 Section 7.1
Termination. 
 This Guarantee Agreement shall terminate and be of no further force and effect upon (i) full payment of the
Redemption Price of all Trust Preferred Securities or (ii) full payment of the amounts payable in accordance with Article IX of the Declaration of Trust upon liquidation of the Issuer Trust. Notwithstanding the foregoing, this Guarantee
Agreement will continue to be effective or will be reinstated, as the case may be, if at any time any Holder is required to repay any sums paid with respect to Trust Preferred Securities or this Guarantee Agreement. Section 3.3 shall survive
any termination of this Guarantee Agreement. 

  
 -13- 

GUARANTEE AGREEMENT 

 ARTICLE VIII 

Miscellaneous 
 Section 8.1
Successors and Assigns. 
 All guarantees and agreements contained in this Guarantee Agreement shall bind the successors, assigns,
receivers, trustees and representatives of the Guarantor whether so expressed or not and will be for the benefit of the Holders of the Trust Preferred Securities then outstanding. Except in connection with a consolidation, merger or sale involving
the Guarantor that is permitted under Article VIII of the Indenture and pursuant to which the successor or assignee agrees in writing to perform the Guarantor’s obligations hereunder, the Guarantor shall not assign its obligations
hereunder, and any purported assignment other than in accordance with this provision shall be void. 
 Section 8.2 Amendments. 

Except with respect to any changes that do not adversely affect the rights of the Holders in any material respect (in which case no consent of
the Holders will be required), this Guarantee Agreement may only be amended with the prior approval of the Holders of not less than a Majority in Liquidation Amount of the outstanding Trust Preferred Securities. The holders of each Class of
Trust Preferred Securities will also be entitled to vote separately as a class to the extent that any proposed amendment would not affect them in the same or substantially the same manner. The provisions of Article VI of the Declaration of Trust
concerning meetings of the Holders shall apply to the giving of such approval. 
 Section 8.3 Notices. 

Any notice, request or other communication required or permitted to be given hereunder shall be in writing, duly signed by the party giving
such notice, and delivered, telecopied or mailed by first-class mail as follows: 
 (a) if given to the Guarantor, to the address or telecopy
number set forth below or such other address or facsimile number as the Guarantor may give notice to the Guarantee Trustee and the Holders: 

SunTrust Banks, Inc. 

303 Peachtree Street, N.E. 

Atlanta, Georgia 30308 

Attention: Treasurer 

Facsimile: (404) 724-3749 

(b) if given to the Guarantee Trustee, to the address or telecopy number set forth below or such other address or facsimile number as the
Guarantee Trustee may give notice to the Guarantor and Holders: 
 U.S. Bank National Association 

One Federal Street 

3rd Floor 

Boston, MA 

Attention: Corporate Trust Department 

Facsimile: (617) 603-6667 

  
 -14- 

GUARANTEE AGREEMENT 

 with a copy to: 

SunTrust Preferred Capital I 

c/o SunTrust Banks, Inc. 

303 Peachtree Street, N.E. 

Atlanta, Georgia 30308 

Attention: Treasurer 

Facsimile: (404) 724-3749 

(c) if given to any Holder, at the address set forth on the books and records of the Issuer Trust. 

All notices hereunder shall be deemed to have been given when received in person, telecopied with receipt confirmed, or mailed by first-class
mail, postage prepaid, except that if a notice or other document is refused delivery or cannot be delivered because of a changed address of which no notice was given, such notice or other document shall be deemed to have been delivered on the date
of such refusal or inability to deliver. 
 Section 8.4 Benefit. 

This Guarantee Agreement is solely for the benefit of the Holders and is not separately transferable from the Trust Preferred Securities. 

Section 8.5 Governing Law. 
 This
Guarantee Agreement shall be governed by and construed in accordance with the laws of the State of New York. 
 * * * * 

This instrument may be executed in any number of counterparts, each of which so executed shall be deemed to be an original, but all such
counterparts shall together constitute but one and the same instrument. 

  
 -15- 

GUARANTEE AGREEMENT 

 IN WITNESS WHEREOF, the
parties hereto have executed this Guarantee Agreement as of the day and year first above written. 
  

			
	 SUNTRUST BANKS, INC.,

as Guarantor

		
	By:	 	 /s/ Raymond D. Fortin

	Name:	 	Raymond D. Fortin
	Title:	 	 Authorized Person

	
	 U.S. BANK NATIONAL ASSOCIATION,

individually and as Guarantee Trustee

		
	By:	 	 /s/ Earl W. Dennison, Jr.

	Name:	 	Earl W. Dennison, Jr.
	Title:	 	Vice President

  
 GUARANTEE
AGREEMENTEX-4.8

 Exhibit 4.8 
  

 
  

DEPOSIT AGREEMENT 
 among 

SUNTRUST BANKS, INC., 
 U.S. BANK
NATIONAL ASSOCIATION 
 as Depositary, 

and 
 THE HOLDERS FROM TIME TO
TIME OF 
 THE DEPOSITARY RECEIPTS DESCRIBED HEREIN 

Dated as of November 7, 2014 
  

 
  

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
	 ARTICLE I DEFINED TERMS
	  			
			
	 Section 1.1.
	 	Definitions.	  	 	1	 
		
	 ARTICLE II FORM OF RECEIPTS,
DEPOSIT OF STOCK, EXECUTION AND DELIVERY, TRANSFER, SURRENDER AND REDEMPTION OF
RECEIPTS
	  			
			
	 Section 2.1.
	 	Form and Transfer of Receipts.	  	 	3	 
			
	 Section 2.2.
	 	Deposit of Stock; Execution and Delivery of Receipts in Respect Thereof.	  	 	4	 
			
	 Section 2.3.
	 	Registration of Transfer of Receipts.	  	 	5	 
			
	 Section 2.4.
	 	Split-ups and Combinations of Receipts; Surrender of Receipts and Withdrawal of Stock.	  	 	5	 
			
	 Section 2.5.
	 	Limitations on Execution and Delivery, Transfer, Surrender and Exchange of Receipts.	  	 	6	 
			
	 Section 2.6.
	 	Lost Receipts, etc.	  	 	7	 
			
	 Section 2.7.
	 	Cancellation and Destruction of Surrendered Receipts.	  	 	7	 
			
	 Section 2.8.
	 	Redemption of Stock.	  	 	7	 
			
	 Section 2.9.
	 	Receipts Issuable in Global Registered Form.	  	 	8	 
		
	 ARTICLE III CERTAIN OBLIGATIONS OF
HOLDERS OF RECEIPTS AND THE COMPANY
	  			
			
	 Section 3.1.
	 	Filing Proofs, Certificates and Other Information.	  	 	10	 
			
	 Section 3.2.
	 	Payment of Taxes or Other Governmental Charges.	  	 	10	 
			
	 Section 3.3.
	 	Warranty as to Stock.	  	 	10	 
			
	 Section 3.4.
	 	Warranty as to Receipts.	  	 	10	 
	
	 ARTICLE IV THE DEPOSITED SECURITIES;
NOTICES
	  

			
	 Section 4.1.
	 	Cash Distributions.	  	 	11	 
			
	 Section 4.2.
	 	Distributions Other than Cash, Rights, Preferences or Privileges.	  	 	11	 
			
	 Section 4.3.
	 	Subscription Rights, Preferences or Privileges.	  	 	12	 

  
 -i- 

							
	 Section 4.4.
	 	Notice of Dividends, etc.; Fixing Record Date for Holders of Receipts.	  	 	13	 
			
	 Section 4.5.
	 	Voting Rights.	  	 	13	 
			
	 Section 4.6.
	 	Changes Affecting Deposited Securities and Reclassifications, Recapitalizations, etc.	  	 	14	 
			
	 Section 4.7.
	 	Delivery of Reports.	  	 	14	 
			
	 Section 4.8.
	 	Lists of Receipt Holders.	  	 	14	 
		
	 ARTICLE V THE DEPOSITARY, THE
DEPOSITARY’S AGENTS, THE REGISTRAR AND THE COMPANY
	  			
			
	 Section 5.1.
	 	Maintenance of Offices, Agencies and Transfer Books by the Depositary; Registrar.	  	 	15	 
			
	 Section 5.2.
	 	Prevention of or Delay in Performance by the Depositary, the Depositary’s Agents, the Registrar or the Company.	  	 	15	 
			
	 Section 5.3.
	 	Obligations of the Depositary, the Depositary’s Agents, the Registrar and the Company.	  	 	16	 
			
	 Section 5.4.
	 	Resignation and Removal of the Depositary; Appointment of Successor Depositary.	  	 	17	 
			
	 Section 5.5.
	 	Corporate Notices and Reports.	  	 	18	 
			
	 Section 5.6.
	 	Indemnification by the Company.	  	 	19	 
			
	 Section 5.7.
	 	Fees, Charges and Expenses.	  	 	19	 
		
	 ARTICLE VI AMENDMENT AND
TERMINATION
	  			
			
	 Section 6.1.
	 	Amendment.	  	 	19	 
			
	 Section 6.2.
	 	Termination.	  	 	20	 
		
	 ARTICLE VII MISCELLANEOUS
	  			
			
	 Section 7.1.
	 	Counterparts.	  	 	21	 
			
	 Section 7.2.
	 	Exclusive Benefit of Parties.	  	 	21	 
			
	 Section 7.3.
	 	Invalidity of Provisions.	  	 	21	 
			
	 Section 7.4.
	 	Notices.	  	 	21	 
			
	 Section 7.5.
	 	Depositary’s Agents.	  	 	22	 

  
 -ii- 

							
	 Section 7.6.
	 	Appointment of Registrar and Transfer Agent in Respect of the Receipts.	  	 	22	 
			
	 Section 7.7.
	 	Appointment of Calculation Agent.	  	 	22	 
			
	 Section 7.8.
	 	Holders of Receipts Are Parties.	  	 	23	 
			
	 Section 7.9.
	 	Governing Law.	  	 	23	 
			
	 Section 7.10.
	 	Inspection of Deposit Agreement.	  	 	23	 
			
	 Section 7.11.
	 	Headings.	  	 	23	 
			
	 Exhibit A
	 	Form of Receipt	  	 	A-1	 
			
	 Exhibit B
	 	Form of Officer’s Certificate	  	 	B-1	 
			
	 Exhibit C
	 	Dividend Calculation	  	 	C-1	 

  
 -iii- 

 DEPOSIT AGREEMENT dated as of November 7, 2014, among (i) SUNTRUST BANKS, INC., a
Georgia corporation, (ii) U.S. Bank National Association, a national banking association formed under the laws of the United States, and (iii) the holders from time to time of the Receipts described herein. 

WHEREAS, it is desired to provide, as hereinafter set forth in this Deposit Agreement, for the deposit of shares of Perpetual Preferred Stock,
Series F, of the Company with the Depositary for the purposes set forth in this Deposit Agreement and for the issuance hereunder of Receipts evidencing Depositary Shares in respect of the Stock so deposited; and 

WHEREAS, the Receipts are to be substantially in the form of Exhibit A annexed hereto, with appropriate insertions,
modifications and omissions, as hereinafter provided in this Deposit Agreement; 
 NOW, THEREFORE, in consideration of the premises, the
parties hereto agree as follows: 
 ARTICLE I 

DEFINED TERMS 

Section 1.1. Definitions. 

The following definitions shall for all purposes, unless otherwise indicated, apply to the respective terms used in this Deposit Agreement:

 “Articles” shall mean the Articles of Amendment filed with the Secretary of State of the State of Georgia establishing
the Stock as a series of preferred stock of the Company.  
 “Company” shall mean SunTrust Banks, Inc., a Georgia
corporation, and its successors. 
 “Deposit Agreement” shall mean this Deposit Agreement, as amended or supplemented from
time to time in accordance with the terms hereof.  
 “Depositary” shall mean U.S. Bank National Association, a
national banking association formed under the laws of the United States, and any successor as Depositary hereunder.  

“Depositary Share Redemption Price” shall have the meaning set forth in Section 2.8.  

“Depositary Shares” shall mean depositary shares, each representing one-four
thousandth of one share of Stock and evidenced by a Receipt.  

  
 1 

 “Depositary’s Agent” shall mean an agent appointed by the Depositary
pursuant to Section 7.5. 
 “Depositary’s Office” shall mean the principal office of the Depositary in Boston,
Massachusetts, at which at any particular time its depositary receipt business shall be administered.  
 “Exchange
Event” shall mean with respect to any Global Registered Receipt:  
 (1) (A) the Global Receipt
Depository which is the holder of such Global Registered Receipt or Receipts notifies the Company that it is no longer willing or able to properly discharge its responsibilities under any Letter of Representations or that it is no longer eligible or
in good standing under the Securities Exchange Act of 1934, as amended, and (B) the Company has not appointed a qualified successor Global Receipt Depository within ninety (90) calendar days after the Company received such notice, or 

(2) the Company in its sole discretion notifies the Depositary in writing that the Receipts or portion thereof issued or
issuable in the form of one or more Global Registered Receipts shall no longer be represented by such Global Receipt or Receipts. 

“Global Receipt Depository” shall mean, with respect to any Receipt issued hereunder, The Depository Trust Company
(“DTC”) or such other entity designated as Global Receipt Depository by the Company in or pursuant to this Deposit Agreement, which Person must be, to the extent required by any applicable law or regulation, a clearing agency registered
under the Securities Exchange Act of 1934, as amended.  
 “Global Registered Receipts” shall mean a global
registered Receipt registered in the name of a nominee of DTC.  
 “Letter of Representations” shall mean any
applicable agreement among the Company, the Depositary and a Global Receipt Depository with respect to such Global Receipt Depository’s rights and obligations with respect to any Global Registered Receipts, as the same may be amended,
supplemented, restated or otherwise modified from time to time and any successor agreement thereto.  
 “Officer’s
Certificate” means a certificate in substantially the form set forth as Exhibit B hereto, which is signed by an officer of the Company and which shall include the terms and conditions of the Stock to be issued by the Company and
deposited with the Depositary in accordance with the terms hereof.  
 “Preferred Stock Redemption Price” shall have
the meaning set forth in Section 2.8.  
 “Receipt” shall mean one of the depositary receipts, substantially in
the form set forth as Exhibit A hereto, issued hereunder, whether in definitive or temporary form and evidencing the number of Depositary Shares held of record by the record holder of such Depositary Shares. 

  
 2 

 “record holder” or “holder” as applied to a Receipt shall
mean the person in whose name a Receipt is registered on the books of the Depositary maintained for such purpose.  

“Registrar” shall mean the Depositary or such other bank or trust company which shall be appointed by the Company to register
ownership and transfers of Receipts as herein provided and if a Registrar shall be so appointed, references herein to “the books” of or maintained by the Depositary shall be deemed, as applicable, to refer as well to the register
maintained by such Registrar for such purpose.  
 “Securities Act” shall mean the Securities Act of 1933, as
amended.  
 “Stock” shall mean the shares of the Company’s Perpetual Preferred Stock, Series F, no par
value, $100,000 liquidation preference per share.  
 ARTICLE II 

FORM OF RECEIPTS, DEPOSIT OF STOCK, 

EXECUTION AND DELIVERY, TRANSFER, 

SURRENDER AND REDEMPTION OF RECEIPTS 

Section 2.1. Form and Transfer of Receipts. 

Definitive Receipts shall be substantially in the form set forth in Exhibit A annexed to this Agreement, with appropriate insertions,
modifications and omissions, as hereinafter provided. 
 Receipts shall be executed by the Depositary by the manual signature of a duly
authorized officer of the Depositary; provided, that such signature may be a facsimile if a Registrar for the Receipts (other than the Depositary) shall have been appointed and such Receipts are countersigned by a duly authorized officer of the
Registrar. No Receipt shall be entitled to any benefits under this Deposit Agreement or be valid or obligatory for any purpose unless it shall have been executed manually by a duly authorized officer of the Depositary or, if a Registrar for the
Receipts (other than the Depositary) shall have been appointed, by manual or facsimile signature of a duly authorized officer of the Depositary and countersigned by a duly authorized officer of such Registrar. The Depositary shall record on its
books each Receipt so signed and delivered as hereinafter provided. 
 Receipts shall be in denominations of any number of whole Depositary
Shares. 
 Receipts may be endorsed with or have incorporated in the text thereof such legends or recitals or changes not inconsistent with
the provisions of this Deposit Agreement all as may be required by the Depositary and approved by the Company or required to comply with any applicable law or any regulation thereunder or with the rules and regulations of any securities exchange
upon which the Stock, the Depositary Shares or the Receipts may be listed or to conform with any usage with respect thereto, or to indicate any special limitations or restrictions to which any particular Receipts are subject. 

  
 3 

 Title to Depositary Shares evidenced by a Receipt which is properly endorsed or accompanied
by a properly executed instrument of transfer, shall be transferable by delivery with the same effect as in the case of a negotiable instrument; provided, however, that until transfer of a Receipt shall be registered on the books of the Depositary
as provided in Section 2.3, the Depositary may, notwithstanding any notice to the contrary, treat the record holder thereof at such time as the absolute owner thereof for the purpose of determining the person entitled to distributions of
dividends or other distributions or to any notice provided for in this Deposit Agreement and for all other purposes. 
 Section 2.2.
Deposit of Stock; Execution and Delivery of Receipts in Respect Thereof. 
 Subject to the terms and conditions of this Deposit
Agreement, the Company may from time to time deposit shares of the Stock under this Deposit Agreement by delivery to the Depositary of a certificate or certificates for the Stock to be deposited, properly endorsed or accompanied, if required by the
Depositary, by a duly executed instrument of transfer or endorsement, in form satisfactory to the Depositary, together with all such certifications as may be required by the Depositary in accordance with the provisions of this Deposit Agreement, an
Officer’s Certificate attaching the Articles and all other information required to be set forth therein, and together with a written order of the Company directing the Depositary to execute and deliver to, or upon the written order of, the
person or persons stated in such order a Receipt or Receipts evidencing in the aggregate the number of Depositary Shares representing such deposited Stock. 

Deposited Stock shall be held by the Depositary at the Depositary’s Office or at such other place or places as the Depositary shall
determine. The Depositary shall not lend any Stock deposited hereunder. 
 Upon receipt by the Depositary of a certificate or certificates
for Stock deposited in accordance with the provisions of this Section, together with the other documents required as above specified, and upon recordation of the Stock on the books of the Company (or its duly appointed transfer agent) in the name of
the Depositary or its nominee, the Depositary, subject to the terms and conditions of this Deposit Agreement, shall execute and deliver to or upon the order of the person or persons named in the written order delivered to the Depositary referred to
in the first paragraph of this Section, a Receipt or Receipts evidencing in the aggregate the number of Depositary Shares representing the Stock so deposited and registered in such name or names as may be requested by such person or persons. The
Depositary shall execute and deliver such Receipt or Receipts at the Depositary’s Office or such other offices, if any, as the Depositary may designate. Delivery at other offices shall be at the risk and expense of the person requesting such
delivery. 

  
 4 

 Section 2.3. Registration of Transfer of Receipts. 

Subject to the terms and conditions of this Deposit Agreement, the Depositary shall register on its books from time to time transfers of
Receipts upon any surrender thereof by the holder in person or by duly authorized attorney, properly endorsed or accompanied by a properly executed instrument of transfer. Thereupon, the Depositary shall execute a new Receipt or Receipts evidencing
the same aggregate number of Depositary Shares as those evidenced by the Receipt or Receipts surrendered and deliver such new Receipt or Receipts to or upon the order of the person entitled thereto. 

The Depositary shall not be required (a) to issue, transfer or exchange any Receipts for a period beginning at the opening of business
fifteen days next preceding any selection of Depositary Shares and Stock to be redeemed and ending at the close of business on the day of the mailing of notice of redemption, or (b) to transfer or exchange for another Receipt any Receipt called
or being called for redemption in whole or in part except as provided in Section 2.8. 
 Section 2.4. Split-ups and Combinations of Receipts; Surrender of Receipts and Withdrawal of Stock. 
 Upon
surrender of a Receipt or Receipts at the Depositary’s Office or at such other offices as it may designate for the purpose of effecting a split-up or combination of such Receipt or Receipts, and subject
to the terms and conditions of this Deposit Agreement, the Depositary shall execute a new Receipt or Receipts in the authorized denomination or denominations requested, evidencing the aggregate number of Depositary Shares evidenced by the Receipt or
Receipts surrendered, and shall deliver such new Receipt or Receipts to or upon the order of the holder of the Receipt or Receipts so surrendered. 

Any holder of a Receipt or Receipts may withdraw the number of whole shares of Stock and all money and other property, if any, represented
thereby by surrendering such Receipt or Receipts, at the Depositary’s Office or at such other offices as the Depositary may designate for such withdrawals. Thereafter, without unreasonable delay, the Depositary shall deliver to such holder, or
to the person or persons designated by such holder as hereinafter provided, the number of whole shares of Stock and all money and other property, if any, represented by the Receipt or Receipts so surrendered for withdrawal, but holders of such whole
shares of Stock will not thereafter be entitled to deposit such Stock hereunder or to receive a Receipt evidencing Depositary Shares therefor. If a Receipt delivered by the holder to the Depositary in connection with such withdrawal shall evidence a
number of Depositary Shares in excess of the number of Depositary Shares representing the number of whole shares of Stock to be so withdrawn, the Depositary shall at the same time, in addition to such number of whole shares of Stock and such money
and other property, if any, to be so withdrawn, deliver to such holder, or subject to Section 2.3 upon his order, a new Receipt evidencing such excess number of Depositary Shares. 

  
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 Except as provided in Section 6.2, in no event will fractional shares of Stock (or any
cash payment in lieu thereof) be delivered by the Depositary. Delivery of the Stock and money and other property, if any, being withdrawn may be made by the delivery of such certificates, documents of title and other instruments as the Depositary
may deem appropriate. 
 If the Stock and the money and other property, if any, being withdrawn are to be delivered to a person or persons
other than the record holder of the Receipt or Receipts being surrendered for withdrawal of Stock, such holder shall execute and deliver to the Depositary a written order so directing the Depositary and the Depositary may require that the Receipt or
Receipts surrendered by such holder for withdrawal of such shares of Stock be properly endorsed in blank or accompanied by a properly executed instrument of transfer in blank. 

Delivery of the Stock and the money and other property, if any, represented by Receipts surrendered for withdrawal shall be made by the
Depositary at the Depositary’s Office, except that, at the request, risk and expense of the holder surrendering such Receipt or Receipts and for the account of the holder thereof, such delivery may be made at such other place as may be
designated by such holder. 
 Section 2.5. Limitations on Execution and Delivery, Transfer, Surrender and Exchange of Receipts.

 As a condition precedent to the execution and delivery, registration of transfer, split-up,
combination, surrender or exchange of any Receipt, the Depositary, any of the Depositary’s Agents or the Company may require payment to it of a sum sufficient for the payment (or, in the event that the Depositary or the Company shall have made
such payment, the reimbursement to it) of any charges or expenses payable by the holder of a Receipt pursuant to Section 5.7, may require the production of evidence satisfactory to it as to the identity and genuineness of any signature and may
also require compliance with such regulations, if any, as the Depositary or the Company may establish consistent with the provisions of this Deposit Agreement and/or applicable law. 

The deposit of Stock may be refused, the delivery of Receipts against Stock may be suspended, the registration of transfer of Receipts may be
refused and the registration of transfer, surrender or exchange of outstanding Receipts may be suspended (i) during any period when the register of stockholders of the Company is closed or (ii) if any such action is deemed necessary or
advisable by the Depositary, any of the Depositary’s Agents or the Company at any time or from time to time because of any requirement of law or of any government or governmental body or commission or under any provision of this Deposit
Agreement. 

  
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 Section 2.6. Lost Receipts, etc. 

In case any Receipt shall be mutilated, destroyed, lost or stolen, the Depositary in its discretion may execute and deliver a Receipt of like
form and tenor in exchange and substitution for such mutilated Receipt, or in lieu of and in substitution for such destroyed, lost or stolen Receipt, upon (i) the filing by the holder thereof with the Depositary of evidence satisfactory to the
Depositary of such destruction or loss or theft of such Receipt, of the authenticity thereof and of his or her ownership thereof and (ii) the holder thereof furnishing of the Depositary with reasonable indemnification satisfactory to the
Depositary. 
 Section 2.7. Cancellation and Destruction of Surrendered Receipts. 

All Receipts surrendered to the Depositary or any Depositary’s Agent shall be cancelled by the Depositary. Except as prohibited by
applicable law or regulation, the Depositary is authorized and directed to destroy all Receipts so cancelled. 
 Section 2.8.
Redemption of Stock. 
 Whenever the Company shall be permitted and shall elect to redeem shares of Stock in accordance with the
provisions of the Articles, it shall (unless otherwise agreed to in writing with the Depositary) give or cause to be given to the Depositary, not less than 45 days and not more than 75 days prior to the Redemption Date (as defined below),
notice of the date of such proposed redemption of Stock and of the number of such shares held by the Depositary to be so redeemed and the applicable Depositary Share Redemption Price, which notice shall be accompanied by a certificate from the
Company stating that such redemption of Stock is in accordance with the provisions of the Articles. On the date of such redemption, provided that the Company shall then have paid or caused to be paid in full to the Depositary the redemption price
per share of Stock to be redeemed, plus an amount equal to any accrued and unpaid dividends thereon to the date fixed for redemption, in accordance with and as required by the provisions of the Articles (the “Preferred Stock Redemption
Price”), the Depositary shall redeem the number of Depositary Shares representing such Stock. The Depositary shall mail notice of the Company’s redemption of Stock and the proposed simultaneous redemption of the number of Depositary
Shares representing the Stock to be redeemed by first-class mail, postage prepaid, not less than 30 days and not more than 60 days prior to the date fixed for redemption of such Stock and Depositary Shares (the “Redemption
Date”), to the record holders of the Receipts evidencing the Depositary Shares to be so redeemed at the addresses of such holders as they appear on the records of the Depositary; but neither failure to mail any such notice of redemption of
Depositary Shares to one or more such holders nor any defect in any notice of redemption of Depositary Shares to one or more such holders shall affect the sufficiency of the proceedings for redemption as to the other holders. Each such notice shall
be prepared by the Company and shall state: (i) the Redemption Date; (ii) the number of Depositary Shares to be redeemed and, if less than all the Depositary Shares held by any such holder are to be redeemed, the number of such Depositary
Shares held by such holder to be so redeemed; (iii) the Depositary Share 

  
 7 

 
Redemption Price (as defined below); and (iv) the place or places where Receipts evidencing Depositary Shares are to be surrendered for payment of the Depositary Share Redemption Price (as
defined below). In case less than all the outstanding Depositary Shares are to be redeemed, the Depositary Shares to be so redeemed shall be selected by the Depositary by lot or pro rata (as nearly as may be), as determined by the Depositary in its
sole discretion to be equitable. 
 Notice having been mailed by the Depositary as aforesaid, from and after the Redemption Date (unless the
Company shall have failed to provide the funds necessary to redeem the Stock evidenced by the Depositary Shares called for redemption) (i) all shares of Stock called for redemption shall cease to be outstanding and any rights with respect to
such shares shall cease and terminate (except for the right to receive the Preferred Stock Redemption Price without interest), (ii) the Depositary Shares being redeemed from such proceeds shall cease to be outstanding and all rights of the
holders of Receipts evidencing such Depositary Shares shall, to the extent of such Depositary Shares, cease and terminate (except the right to receive the Depositary Share Redemption Price without interest), and (iii) upon surrender in
accordance with such redemption notice of the Receipts evidencing any such Depositary Shares called for redemption (properly endorsed or assigned for transfer, if the Depositary or applicable law shall so require), such Depositary Shares shall be
redeemed by the Depositary at a redemption price per Depositary Share (the “Depositary Share Redemption Price”) equal to one-four thousandth of the Preferred Stock Redemption Price per share
of Stock so redeemed plus all money and other property, if any, represented by such Depositary Shares.  
 If fewer than all of the
Depositary Shares evidenced by a Receipt are called for redemption, the Depositary will deliver to the holder of such Receipt upon its surrender to the Depositary, together with the redemption payment, a new Receipt evidencing the Depositary Shares
evidenced by such prior Receipt and not called for redemption. 
 Section 2.9. Receipts Issuable in Global Registered Form. 

If the Company shall determine in a writing delivered to the Depositary that the Receipts are to be issued in whole or in part in the form of
one or more Global Registered Receipts, then the Depositary shall, in accordance with the other provisions of this Deposit Agreement, execute and deliver one or more Global Registered Receipts evidencing such Receipts, which (i) shall
represent, and shall be denominated in an amount equal to the aggregate principal amount of, the Receipts to be represented by such Global Registered Receipt or Receipts, (ii) shall be registered in the name of the Global Receipt Depository
therefor or its nominee. 
 Notwithstanding any other provision of this Deposit Agreement to the contrary, unless otherwise provided in the
Global Registered Receipt, a Global Registered Receipt may only be transferred in whole and only by the applicable Global Receipt Depository for such Global Registered Receipt to a nominee of such Global Receipt Depository, or by a nominee of such
Global Receipt Depository to such Global Receipt Depository or another nominee of such Global Receipt Depository, or by such Global Receipt 

  
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Depository or any such nominee to a successor Global Receipt Depository for such Global Registered Receipt selected or approved by the Company or to a nominee of such successor Global Receipt
Depository. Except as provided below, owners solely of beneficial interests in a Global Registered Receipt shall not be entitled to receive physical delivery of the Receipts represented by such Global Registered Receipt. Neither any such beneficial
owner nor any direct or indirect participant of a Global Receipt Depository shall have any rights under this Deposit Agreement with respect to any Global Registered Receipt held on their behalf by a Global Receipt Depository and such Global Receipt
Depository may be treated by the Company, the Depositary and any director, officer, employee or agent of the Company or the Depositary as the holder of such Global Registered Receipt for all purposes whatsoever. Unless and until definitive Receipts
are delivered to the owners of the beneficial interests in a Global Registered Receipt, (1) the applicable Global Receipt Depository will make book-entry transfers among its participants and receive and transmit all payments and distributions
in respect of the Global Registered Receipts to such participants, in each case, in accordance with its applicable procedures and arrangements, and (2) whenever any notice, payment or other communication to the holders of Global Registered
Receipts is required under this Deposit Agreement, the Company and the Depositary shall give all such notices, payments and communications specified herein to be given to such holders to the applicable Global Receipt Depository. 

If an Exchange Event has occurred with respect to any Global Registered Receipt, then, in any such event, the Depositary shall, upon receipt
of a written order from the Company for the execution and delivery of individual definitive registered Receipts in exchange for such Global Registered Receipt, shall execute and deliver, individual definitive registered Receipts, in authorized
denominations and of like tenor and terms in an aggregate principal amount equal to the principal amount of the Global Registered Receipt in exchange for such Global Registered Receipt. 

Definitive registered Receipts issued in exchange for a Global Registered Receipt pursuant to this Section shall be registered in such names
and in such authorized denominations as the Global Receipt Depository for such Global Registered Receipt, pursuant to instructions from its participants, shall instruct the Depositary in writing. The Depositary shall deliver such Receipts to the
persons in whose names such Receipts are so registered. 
 Notwithstanding anything to the contrary in this Deposit Agreement, should the
Company determine that the Receipts should be issued as a Global Registered Receipt, the parties hereto shall comply with the terms of each Letter of Representations. 

  
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 ARTICLE III 

CERTAIN OBLIGATIONS OF 

HOLDERS OF RECEIPTS AND THE COMPANY 

Section 3.1. Filing Proofs, Certificates and Other Information. 

Any holder of a Receipt may be required from time to time to file such proof of residence, or other matters or other information, to execute
such certificates and to make such representations and warranties as the Depositary or the Company may reasonably deem necessary or proper. The Depositary or the Company may withhold the delivery, or delay the registration of transfer or redemption,
of any Receipt or the withdrawal of the Stock represented by the Depositary Shares evidenced by any Receipt or the distribution of any dividend or other distribution or the sale of any rights or of the proceeds thereof until such proof or other
information is filed or such certificates are executed or such representations and warranties are made. 
 Section 3.2. Payment of
Taxes or Other Governmental Charges. 
 Holders of Receipts shall be obligated to make payments to the Depositary of certain charges and
expenses, as provided in Section 5.7. Registration of transfer of any Receipt or any withdrawal of Stock and all money or other property, if any, represented by the Depositary Shares evidenced by such Receipt may be refused until any such
payment due is made, and any dividends, interest payments or other distributions may be withheld or any part of or all the Stock or other property represented by the Depositary Shares evidenced by such Receipt and not theretofore sold may be sold
for the account of the holder thereof (after attempting by reasonable means to notify such holder prior to such sale), and such dividends, interest payments or other distributions or the proceeds of any such sale may be applied to any payment of
such charges or expenses, the holder of such Receipt remaining liable for any deficiency. 
 Section 3.3. Warranty as to Stock.

 The Company hereby represents and warrants that the Stock, when issued, will be duly authorized, validly issued, fully paid and
nonassessable. Such representation and warranty shall survive the deposit of the Stock and the issuance of Receipts. 
 Section 3.4.
Warranty as to Receipts. 
 The Company hereby represents and warrants that the Receipts, when issued, will represent legal and valid
interests in the Stock. Such representation and warranty shall survive the deposit of the Stock and the issuance of Receipts. 

  
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 ARTICLE IV 

THE DEPOSITED SECURITIES; NOTICES 

Section 4.1. Cash Distributions. 

Whenever the Depositary shall receive any cash dividend or other cash distribution on Stock, the Depositary shall, subject to Sections 3.1 and
3.2, distribute to record holders of Receipts on the record date fixed pursuant to Section 4.4 such amounts of such dividend or distribution as are, as nearly as practicable, in proportion to the respective numbers of Depositary Shares
evidenced by the Receipts held by such holders; provided, however, that in case the Company or the Depositary shall be required to withhold and shall withhold from any cash dividend or other cash distribution in respect of the Stock an amount on
account of taxes, the amount made available for distribution or distributed in respect of Depositary Shares shall be reduced accordingly. The Depositary shall distribute or make available for distribution, as the case may be, only such amount,
however, as can be distributed without attributing to any holder of Depositary Shares a fraction of one cent, and any balance not so distributable shall be held by the Depositary (without liability for interest thereon) and shall be added to and be
treated as part of the next sum received by the Depositary for distribution to record holders of Receipts then outstanding. Each holder of a Receipt shall provide the Depositary with its certified tax identification number on a properly completed
Form W-8 or W-9, as may be applicable. Each holder of a Receipt acknowledges that, in the event of non-compliance with the
preceding sentence, the Internal Revenue Code of 1986, as amended, may require withholding by the Depositary of a portion of any of the distributions to be made hereunder. 

Section 4.2. Distributions Other than Cash, Rights, Preferences or Privileges. 

Whenever the Depositary shall receive any distribution other than cash, rights, preferences or privileges upon Stock, the Depositary shall, at
the direction of the Company, subject to Sections 3.1 and 3.2, distribute to record holders of Receipts on the record date fixed pursuant to Section 4.4 such amounts of the securities or property received by it as are, as nearly as practicable,
in proportion to the respective numbers of Depositary Shares evidenced by the Receipts held by such holders, in any manner that the Company may deem equitable and practicable for accomplishing such distribution. If in the opinion of the Depositary
such distribution cannot be made proportionately among such record holders in accordance with the direction of the Company, or if for any other reason (including any requirement that the Company or the Depositary withhold an amount on account of
taxes) the Depositary deems, after consultation with the Company, such distribution not to be feasible, the Depositary may, with the approval of the Company, adopt such method as it deems equitable and practicable for the purpose of effecting such
distribution, including the sale (at public or private sale) of the securities or property thus received, or any part thereof, in a commercially reasonable manner. The net proceeds of any such sale shall, subject to Sections 3.1 and 3.2, be
distributed or made available for distribution, as the case may be, by the Depositary to record holders of 

  
 11 

 
Receipts as provided by Section 4.1 in the case of a distribution received in cash. The Company shall not make any distribution of such securities or property to the Depositary and the
Depositary shall not make any distribution of such securities or property to the holders of Receipts unless the Company shall have provided an opinion of counsel stating that such securities or property have been registered under the Securities Act
or do not need to be registered in connection with such distributions. 
 Section 4.3. Subscription Rights, Preferences or
Privileges. 
 If the Company shall at any time offer or cause to be offered to the persons in whose names Stock is recorded on the books
of the Company any rights, preferences or privileges to subscribe for or to purchase any securities or any rights, preferences or privileges of any other nature, such rights, preferences or privileges shall in each such instance be made available by
the Depositary to the record holders of Receipts in such manner as the Company shall instruct the Depositary in writing, either by the issue to such record holders of warrants representing such rights, preferences or privileges or by such other
method as may be approved by the Company; provided, however, that (i) if at the time of issue or offer of any such rights, preferences or privileges the Depositary determines that it is not lawful or (after consultation with the Company) not
feasible to make such rights, preferences or privileges available to holders of Receipts by the issue of warrants or otherwise, or (ii) if and to the extent so instructed by holders of Receipts who do not desire to exercise such rights,
preferences or privileges, then the Depositary, in its discretion (with approval of the Company, in any case where the Depositary has determined that it is not feasible to make such rights, preferences or privileges available), may, if applicable
laws or the terms of such rights, preferences or privileges permit such transfer, sell such rights, preferences or privileges at public or private sale, at such place or places and upon such terms as it may deem proper. The net proceeds of any such
sale shall, subject to Sections 3.1 and 3.2, be distributed by the Depositary to the record holders of Receipts entitled thereto as provided by Section 4.1 in the case of a distribution received in cash. 

The Company shall notify the Depositary whether registration under the Securities Act of the securities to which any rights, preferences or
privileges relate is required in order for holders of Receipts to be offered or sold the securities to which such rights, preferences or privileges relate, and the Company agrees with the Depositary that it will file promptly a registration
statement pursuant to such Act with respect to such rights, preferences or privileges and securities and use its best efforts and take all steps available to it to cause such registration statement to become effective sufficiently in advance of the
expiration of such rights, preferences or privileges to enable such holders to exercise such rights, preferences or privileges. In no event shall the Depositary make available to the holders of Receipts any right, preference or privilege to
subscribe for or to purchase any securities unless and until such registration statement shall have become effective, or the Company shall have provided to the Depositary an opinion of counsel to the effect that the offering and sale of such
securities to such holders are exempt from registration under the provisions of the Securities Act. 

  
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 The Company shall notify the Depositary whether any other action under the laws of any
jurisdiction or any governmental or administrative authorization, consent or permit is required in order for such rights, preferences or privileges to be made available to holders of Receipts, and the Company agrees with the Depositary that the
Company will use its reasonable best efforts to take such action or obtain such authorization, consent or permit sufficiently in advance of the expiration of such rights, preferences or privileges to enable such holders to exercise such rights,
preferences or privileges. 
 Section 4.4. Notice of Dividends, etc.; Fixing Record Date for Holders of Receipts. 

Whenever any cash dividend or other cash distribution shall become payable or any distribution other than cash shall be made, or if rights,
preferences or privileges shall at any time be offered, with respect to Stock, or whenever the Depositary shall receive notice of any meeting at which holders of Stock are entitled to vote or of which holders of Stock are entitled to notice, or
whenever the Depositary and the Company shall decide it is appropriate, the Depositary shall in each such instance fix a record date (which shall be the same date as the record date fixed by the Company with respect to, or otherwise in accordance
with the terms of, the Stock, as identified in a written notice to the Depositary of such record date) for the determination of the holders of Receipts who shall be entitled to receive such dividend, distribution, rights, preferences or privileges
or the net proceeds of the sale thereof, or to give instructions for the exercise of voting rights at any such meeting, or who shall be entitled to notice of such meeting or for any other appropriate reasons. 

Section 4.5. Voting Rights. 

Upon receipt of notice of any meeting at which the holders of Stock are entitled to vote, the Depositary shall, as soon as practicable
thereafter, mail to the record holders of Receipts a notice prepared by the Company which shall contain (i) such information as is contained in such notice of meeting and (ii) a statement that the holders may, subject to any applicable
restrictions, instruct the Depositary as to the exercise of the voting rights pertaining to the amount of Stock represented by their respective Depositary Shares (including an express indication that instructions may be given to the Depositary to
give a discretionary proxy to a person designated by the Company) and a brief statement as to the manner in which such instructions may be given. Upon the written request of the holders of Receipts on the relevant record date, the Depositary shall
endeavor insofar as practicable to vote or cause to be voted, in accordance with the instructions set forth in such requests, the maximum number of whole shares of Stock represented by the Depositary Shares evidenced by all Receipts as to which any
particular voting instructions are received. The Company hereby agrees to take all reasonable action which may be deemed necessary by the Depositary in order to enable the Depositary to vote such Stock or cause such Stock to be voted. In the absence
of specific instructions from the holder of a Receipt, the Depositary will vote, to the extent permitted by the rules of the New York Stock Exchange or any other applicable regulatory body, the Stock represented by the Depositary Shares evidenced by
the Receipt of such holder proportionately with votes cast pursuant to instructions received by the other holders. 

  
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 Section 4.6. Changes Affecting Deposited Securities and Reclassifications,
Recapitalizations, etc. 
 Upon any change in par or stated value, split-up, combination or any
other reclassification of the Stock, or upon any recapitalization, reorganization, merger or consolidation affecting the Company or to which it is a party, the Depositary may in its discretion with the approval of, and shall upon the instructions
of, the Company, and (in either case) in such manner as the Depositary may deem equitable, (i) make such adjustments as are certified by the Company in the fraction of an interest represented by one Depositary Share in one share of Stock and in
the ratio of the Depositary Share Redemption Price to the Preferred Stock Redemption Price, in each case as may be necessary fully to reflect the effects of such change in par or stated value, split-up,
combination or other reclassification of Stock, or of such recapitalization, reorganization, merger or consolidation and (ii) treat any securities which shall be received by the Depositary in exchange for or upon conversion of or in respect of
the Stock as new deposited securities so received in exchange for or upon conversion or in respect of such Stock. In any such case the Depositary may in its discretion, with the approval of the Company, execute and deliver additional Receipts or may
call for the surrender of all outstanding Receipts to be exchanged for new Receipts specifically describing such new deposited securities. Anything to the contrary herein notwithstanding, holders of Receipts shall have the right from and after the
effective date of any such change in par or stated value, split-up, combination or other reclassification of the Stock or any such recapitalization, reorganization, merger or consolidation to surrender such
Receipts to the Depositary with instructions to convert, exchange or surrender the Stock represented thereby only into or for, as the case may be, the kind and amount of shares of stock and other securities and property and cash into which the Stock
represented by such Receipts might have been converted or for which such Stock might have been exchanged or surrendered immediately prior to the effective date of such transaction. 

Section 4.7. Delivery of Reports. 

The Depositary shall furnish to holders of Receipts any reports and communications received from the Company which are received by the
Depositary and which the Company is required to furnish to the holders of the Stock. 
 Section 4.8. Lists of Receipt Holders.

 Promptly upon request from time to time by the Company, at the sole expense of the Company, the Depositary shall furnish to it a list, as
of the most recent practicable date, of the names, addresses and holdings of Depositary Shares of all record holders of Receipts. 

  
 14 

 ARTICLE V 

THE DEPOSITARY, THE DEPOSITARY’S 

AGENTS, THE REGISTRAR AND THE COMPANY 

Section 5.1. Maintenance of Offices, Agencies and Transfer Books by the Depositary; Registrar. 

Upon execution of this Deposit Agreement, the Depositary shall maintain at the Depositary’s Office, facilities for the execution and
delivery, registration and registration of transfer, surrender and exchange of Receipts, and at the offices of the Depositary’s Agents, if any, facilities for the delivery, registration of transfer, surrender and exchange of Receipts, all in
accordance with the provisions of this Deposit Agreement. 
 The Depositary shall keep books at the Depositary’s Office for the
registration and registration of transfer of Receipts, which books at all reasonable times shall be open for inspection by the record holders of Receipts; provided that any such holder requesting to exercise such right shall certify to the
Depositary that such inspection shall be for a proper purpose reasonably related to such person’s interest as an owner of Depositary Shares evidenced by the Receipts. 

The Depositary may close such books, at any time or from time to time, when deemed expedient by it in connection with the performance of its
duties hereunder. 
 The Depositary may, with the approval of the Company, appoint a Registrar for registration of the Receipts or the
Depositary Shares evidenced thereby. If the Receipts or the Depositary Shares evidenced thereby or the Stock represented by such Depositary Shares shall be listed on one or more national stock exchanges, the Depositary will appoint a Registrar
(acceptable to the Company) for registration of such Receipts or Depositary Shares in accordance with any requirements of such exchange. Such Registrar (which may be the Depositary if so permitted by the requirements of any such exchange) may be
removed and a substitute Registrar appointed by the Depositary upon the request or with the approval of the Company. If the Receipts, such Depositary Shares or such Stock are listed on one or more other stock exchanges, the Depositary will, at the
request of the Company, arrange such facilities for the delivery, registration, registration of transfer, surrender and exchange of such Receipts, such Depositary Shares or such Stock as may be required by law or applicable stock exchange
regulation. 
 Section 5.2. Prevention of or Delay in Performance by the Depositary, the Depositary’s Agents, the Registrar or
the Company. 
 Neither the Depositary nor any Depositary’s Agent nor any Registrar nor the Company shall incur any liability to any
holder of any Receipt if by reason of any provision of any present or future law, or regulation thereunder, of the United States of America or of any other governmental authority or, in the case of the Depositary, the Depositary’s Agent or the
Registrar, by reason of any provision, present or future, of the Company’s Restated Articles of Incorporation, as amended (including the Articles), or by 

  
 15 

 
reason of any act of God or war or other circumstance beyond the control of the relevant party, the Depositary, the Depositary’s Agent, the Registrar or the Company shall be prevented or
forbidden from, or subjected to any penalty on account of, doing or performing any act or thing which the terms of this Deposit Agreement provide shall be done or performed; nor shall the Depositary, any Depositary’s Agent, any Registrar or the
Company incur liability to any holder of a Receipt (i) by reason of any nonperformance or delay, caused as aforesaid, in the performance of any act or thing which the terms of this Deposit Agreement shall provide shall or may be done or
performed, or (ii) by reason of any exercise of, or failure to exercise, any discretion provided for in this Deposit Agreement except as otherwise explicitly set forth in this Deposit Agreement. 

Section 5.3. Obligations of the Depositary, the Depositary’s Agents, the Registrar and the Company. 

Neither the Depositary nor any Depositary’s Agent nor any Registrar nor the Company assumes any obligation or shall be subject to any
liability under this Deposit Agreement to holders of Receipts other than for its negligence, willful misconduct or bad faith. Notwithstanding anything in this Agreement to the contrary, neither the Depositary, nor the Depositary’s Agent nor any
Registrar nor the Company shall be liable in any event for special, punitive, incidental, indirect or consequential losses or damages of any kind whatsoever (including but not limited to lost profits). 

Neither the Depositary nor any Depositary’s Agent nor any Registrar nor the Company shall be under, any obligation to appear in,
prosecute or defend any action, suit or other proceeding in respect of the Stock, the Depositary Shares or the Receipts which in its opinion may involve it in expense or liability unless indemnity satisfactory to it against all expense and liability
be furnished as often as may be required. 
 Neither the Depositary nor any Depositary’s Agent nor any Registrar nor the Company shall
be liable for any action or any failure to act by it in reliance upon the written advice of legal counsel or accountants, or information from any person presenting Stock for deposit, any holder of a Receipt or any other person believed by it in good
faith to be competent to give such information. The Depositary, any Depositary’s Agent, any Registrar and the Company may each rely and shall each be protected in acting upon or omitting to act upon any written notice, request, direction or
other document believed by it to be genuine and to have been signed or presented by the proper party or parties. 
 In no event shall the
Depositary be liable for consequential, special or indirect damages of any kind, regardless of whether the Depositary is put on notice of the possibility of such damages. The Depositary shall not be liable for the acts or omissions due to the gross
negligence, willful misconduct or bad faith of any Depositary’s Agent, so long as such Depositary’s Agent was appointed with due care. 

The Depositary shall not be responsible for any failure to carry out any instruction to vote any of the shares of Stock or for the manner or
effect of any such vote made, as long as any such action or non-action is not taken in bad faith. The Depositary undertakes, and any Registrar shall be required to undertake, to perform such duties and only
such duties as are specifically set forth in this Agreement, and no implied covenants or obligations shall be read into this Agreement against the Depositary or any Registrar. 

  
 16 

 The Depositary, the Depositary’s Agents, and any Registrar may own and deal in any
class of securities of the Company and its affiliates and in Receipts. The Depositary may also act as transfer agent or registrar of any of the securities of the Company and its affiliates. 

The Depositary shall not be under any liability for interest on any monies at any time received by it pursuant to any of the provisions of
this Agreement or of the Receipts, the Depositary Shares or the Stock nor shall it be obligated to segregate such monies from other monies held by it, except as required by law. The Depositary shall not be responsible for advancing funds on behalf
of the Company and shall have no duty or obligation to make any payments if it has not timely received sufficient funds to make timely payments. 

In the event the Depositary believes any ambiguity or uncertainty exists hereunder or in any notice, instruction, direction, request or other
communication, paper or document received by the Depositary hereunder, or in the administration of any of the provisions of this Agreement, the Depositary shall deem it necessary or desirable that a matter be proved or established prior to taking,
omitting or suffering to take any action hereunder, the Depositary may, in its sole discretion upon written notice to the Company, refrain from taking any action and shall be fully protected and shall not be liable in any way to the Company, any
holders of Receipts or any other person or entity for refraining from taking such action, unless the Depositary receives written instructions or a certificate signed by the Company which eliminates such ambiguity or uncertainty to the satisfaction
of the Depositary or which proves or establishes the applicable matter to the satisfaction of the Depositary. The Depositary shall not be liable to the Company, any holder of Receipts, or any action taken by it in accordance with the written
instruction of the Company or the holders of Receipts. 
 Section 5.4. Resignation and Removal of the Depositary; Appointment of
Successor Depositary. 
 The Depositary may at any time resign as Depositary hereunder by delivering notice of its election to do so to
the Company, such resignation to take effect upon the appointment of a successor Depositary and its acceptance of such appointment as hereinafter provided. 

The Depositary may at any time be removed by the Company by notice of such removal delivered to the Depositary, such removal to take effect
upon the appointment of a successor Depositary hereunder and its acceptance of such appointment as hereinafter provided. 

  
 17 

 In case at any time the Depositary acting hereunder shall resign or be removed, the Company
shall, within 60 days after the delivery of the notice of resignation or removal, as the case may be, appoint a successor Depositary, which shall be a bank or trust company having its principal office in the United States of America and having
a combined capital and surplus of at least $50,000,000. If no successor Depositary shall have been so appointed and have accepted appointment within 60 days after delivery of such notice, the resigning or removed Depositary may petition any
court of competent jurisdiction for the appointment of a successor Depositary. Every successor Depositary shall execute and deliver to its predecessor and to the Company an instrument in writing accepting its appointment hereunder, and thereupon
such successor Depositary, without any further act or deed, shall become fully vested with all the rights, powers, duties and obligations of its predecessor and for all purposes shall be the Depositary under this Deposit Agreement, and such
predecessor, upon payment of all sums due it and on the written request of the Company, shall promptly execute and deliver an instrument transferring to such successor all rights and powers of such predecessor hereunder, shall duly assign, transfer
and deliver all right, title and interest in the Stock and any moneys or property held hereunder to such successor, and shall deliver to such successor a list of the record holders of all outstanding Receipts and such records, books and other
information in its possession relating thereto. Any successor Depositary shall promptly mail notice of its appointment to the record holders of Receipts. 

Any entity into or with which the Depositary may be merged, consolidated or converted, or any entity which acquires all or substantially all
of the corporate trust business of the institution serving as Depositary, shall be the successor of such Depositary without the execution or filing of any document or any further act, and notice thereof shall not be required hereunder. Such
successor Depositary may authenticate the Receipts in the name of the predecessor Depositary or in the name of the successor Depositary. 

Section 5.5. Corporate Notices and Reports. 

The Company agrees that it will deliver to the Depositary, and the Depositary will, promptly after receipt thereof, transmit to the record
holders of Receipts, in each case at the addresses recorded in the Depositary’s books, copies of all notices and reports (including without limitation financial statements) required by law, by the rules of any national securities exchange upon
which the Stock, the Depositary Shares or the Receipts are listed or by the Company’s Restated Articles of Incorporation, as amended (including the Articles), to be furnished to the record holders of Receipts. Such transmission will be at the
Company’s expense and the Company will provide the Depositary with such number of copies of such documents as the Depositary may reasonably request. In addition, the Depositary will transmit to the record holders of Receipts at the
Company’s expense such other documents as may be requested by the Company. 

  
 18 

 Section 5.6. Indemnification by the Company. 

Notwithstanding Section 5.3 to the contrary, the Company shall indemnify the Depositary, any Depositary’s Agent and any Registrar
(including each of their officers, directors, agents and employees) against, and hold each of them harmless from, any loss, damage, cost, penalty, liability or expense (including the reasonable costs and expenses of defending itself) which may arise
out of acts performed, suffered or omitted to be taken in connection with this Agreement and the Receipts by the Depositary, any Registrar or any of their respective agents (including any Depositary’s Agent) and any transactions or documents
contemplated hereby, except for any liability arising out of negligence, willful misconduct or bad faith on the respective parts of any such person or persons. The obligations of the Company set forth in this Section 5.6 shall survive any
succession of any Depositary, Registrar or Depositary’s Agent. 
 Section 5.7. Fees, Charges and Expenses. 

The Company agrees promptly to pay the Depositary the compensation to be agreed upon with the Company for all services rendered by the
Depositary hereunder and to reimburse the Depositary for its reasonable out-of-pocket expenses (including reasonable counsel fees and expenses) incurred by the
Depositary without negligence, willful misconduct or bad faith on its part (or on the part of any Depositary’s Agent) in connection with the services rendered by it (or such Depositary’s Agent) hereunder. The Company shall pay all charges
of the Depositary in connection with the initial deposit of the Stock and the initial issuance of the Depositary Shares, all withdrawals of shares of the Stock by owners of Depositary Shares, and any redemption or exchange of the Stock at the option
of the Company. The Company shall pay all transfer and other taxes and governmental charges arising solely from the existence of the depositary arrangements. All other transfer and other taxes and governmental charges shall be at the expense of
holders of Depositary Shares evidenced by Receipts. If, at the request of a holder of Receipts, the Depositary incurs charges or expenses for which the Company is not otherwise liable hereunder, such holder will be liable for such charges and
expenses; provided, however, that the Depositary may, at its sole option, require a holder of a Receipt to prepay the Depositary any charge or expense the Depositary has been asked to incur at the request of such holder of Receipts. The Depositary
shall present its statement for charges and expenses to the Company at such intervals as the Company and the Depositary may agree. 
 ARTICLE
VI 
 AMENDMENT AND TERMINATION 

Section 6.1. Amendment. 

The form of the Receipts and any provisions of this Deposit Agreement may at any time and from time to time be amended by agreement between the
Company and the Depositary in any respect which they may deem necessary or desirable; provided, however, that no such amendment which shall materially and adversely alter the rights of the holders of Receipts shall be effective unless such amendment
shall have been approved by the holders of at least a majority (or, in the case of amendments relating to or affecting rights to receive dividends or distributions or voting or redemption rights, two-thirds of
the holders) of the Depositary Shares then outstanding. Every holder of an 

  
 19 

 outstanding Receipt at the time any such amendment becomes effective shall be deemed, by continuing to hold
such Receipt, to consent and agree to such amendment and to be bound by the Depositary Agreement as amended thereby. In no event shall any amendment impair the right, subject to the provisions of Sections 2.5 and 2.6 and Article III, of any
owner of Depositary Shares to surrender any Receipt evidencing such Depositary Shares to the Depositary with instructions to deliver to the holder the Stock and all money and other property, if any, represented thereby, except in order to comply
with mandatory provisions of applicable law or the rules and regulations of any governmental body, agency or commission, or applicable stock exchange. 

Section 6.2. Termination. 

This Agreement may be terminated by the Company at any time upon not less than 60 days prior written notice to the Depositary, in which
case, at least 30 days prior to the date fixed in such notice for such termination, the Depositary will mail notice of such termination to the record holders of all Receipts then outstanding. 

If any Receipts shall remain outstanding after the date of termination of this Deposit Agreement, the Depositary thereafter shall discontinue
the transfer of Receipts, shall suspend the distribution of dividends to the holders thereof and shall not give any further notices (other than notice of such termination) or perform any further acts under this Deposit Agreement, except that the
Depositary shall continue to collect dividends and other distributions pertaining to Stock, shall sell rights, preferences or privileges as provided in this Deposit Agreement and shall deliver the number of whole or fractional shares of Stock and
any money and other property, if any, represented by Receipts upon surrender thereof by the holders thereof. At any time after the expiration of two years from the date of termination, the Depositary may sell Stock then held hereunder at public or
private sale, at such places and upon such terms as it deems proper and may thereafter hold the net proceeds of any such sale, together with any money and other property held by it hereunder, without liability for interest, for the benefit, pro rata
in accordance with their holdings, of the holders of Receipts that have not theretofore been surrendered. After making such sale, the Depositary shall be discharged from all obligations under this Deposit Agreement except to account for such net
proceeds and money and other property. 
 This Agreement will terminate automatically if (i) all outstanding Depositary Shares have
been redeemed pursuant to Section 2.8, or (ii) there shall have been made a final distribution in respect of the Stock in connection with any liquidation, dissolution or winding up of the Company and such distribution shall have been
distributed to the holders of Depositary Shares pursuant to Section 4.1 or 4.2, as applicable. 
 Upon the termination of this Deposit
Agreement, the Company shall be discharged from all obligations under this Deposit Agreement except for its obligations to the Depositary, any Depositary’s Agent and any Registrar under Sections 5.6 and 5.7. 

  
 20 

 ARTICLE VII 

MISCELLANEOUS 

Section 7.1. Counterparts. 

This Deposit Agreement may be executed in any number of counterparts, and by each of the parties hereto on separate counterparts, each of which
counterparts, when so executed and delivered, shall be deemed an original, but all such counterparts taken together shall constitute one and the same instrument. 

Section 7.2. Exclusive Benefit of Parties. 

This Deposit Agreement is for the exclusive benefit of the parties hereto, and their respective successors hereunder, and shall not be deemed
to give any legal or equitable right, remedy or claim to any other person whatsoever. 
 Section 7.3. Invalidity of Provisions.

 In case any one or more of the provisions contained in this Deposit Agreement or in the Receipts should be or become invalid, illegal or
unenforceable in any respect, the validity, legality and enforceability of the remaining provisions contained herein or therein shall in no way be affected, prejudiced or disturbed thereby. 

Section 7.4. Notices. 

Any and all notices to be given to the Company hereunder or under the Receipts shall be in writing and shall be deemed to have been duly given
if personally delivered or sent by mail, or by telegram or facsimile transmission confirmed by letter, addressed to the Company at 

SunTrust Banks, Inc. 
 303
Peachtree Street, N.E. 
 Atlanta, Georgia 30308 

Attention: General Counsel 

Facsimile No.: (404) 724-3550 

or at any other addresses of which the Company shall have notified the Depositary in writing. 

  
 21 

 Any and all notices to be given to the Depositary hereunder or under the Receipts shall be
in writing and shall be deemed to have been duly given if personally delivered or sent by mail, or by facsimile transmission confirmed by letter, addressed to the Depositary at the Depositary’s Office at 

U.S. Bank National Association 

One Federal Street 
 3rd Floor

 Boston, MA 02110 
 Attention:
Corporate Trust Department 
 Facsimile No.: (617) 603-6667 

or at any other address of which the Depositary shall have notified the Company in writing. 

Any and all notices to be given to any record holder of a Receipt hereunder or under the Receipts shall be in writing and shall be deemed to
have been duly given if personally delivered or sent by mail or facsimile transmission confirmed by letter, addressed to such record holder at the address of such record holder as it appears on the books of the Depositary, or if such holder shall
have timely filed with the Depositary a written request that notices intended for such holder be mailed to some other address, at the address designated in such request. 

Delivery of a notice sent by mail or by facsimile transmission shall be deemed to be effected at the time when a duly addressed letter
containing the same (or a confirmation thereof in the case of a facsimile transmission) is deposited, postage prepaid, in a post office letter box. The Depositary or the Company may, however, act upon any facsimile transmission received by it from
the other or from any holder of a Receipt, notwithstanding that such facsimile transmission shall not subsequently be confirmed by letter or as aforesaid. 

Section 7.5. Depositary’s Agents. 

The Depositary may, with the written consent of the Company, which consent shall not be unreasonably withheld, from time to time appoint
Depositary’s Agents to act in any respect for the Depositary for the purposes of this Deposit Agreement and may at any time appoint additional Depositary’s Agents and vary or terminate the appointment of such Depositary’s Agents. The
Depositary will promptly notify the Company of any such action. 
 Section 7.6. Appointment of Registrar and Transfer Agent in
Respect of the Receipts. 
 The Company hereby appoints the Depositary as Registrar and Transfer Agent in respect of the Receipts and the
Depositary hereby accepts such appointments. 
 Section 7.7. Appointment of Calculation Agent. 

The Company hereby appoints U.S. Bank National Association as calculation agent solely with respect to calculating the amount of dividends to
be paid with respect to the Stock, including determining three-month LIBOR, if applicable, in the manner and at the times provided in Exhibit C annexed hereto, and U.S. Bank National Association

  
 22 

 
hereby accepts such appointment. U.S. Bank National Association, in such capacity, shall communicate in writing such determination and its calculation of the amount of such dividends on the
applicable dividend determination date, as described in Exhibit C annexed hereto, to the Company in the manner set forth in Section 7.4 hereof or, alternately, to the Company via electronic mail (at an electronic mail address provided to
the Depositary by the Company), followed by a telephonic confirmation. With respect to the appointment of U.S. Bank National Association as calculation agent, each of the Company and U.S. Bank National Association, in their respective capacities
under such appointment, shall be entitled to the same rights, indemnities, immunities and benefits as the Company and Depositary hereunder, respectively, as if explicitly named in each such provision. 

Section 7.8. Holders of Receipts Are Parties. 

The holders of Receipts from time to time shall be parties to this Deposit Agreement and shall be bound by all of the terms and conditions
hereof and of the Receipts by acceptance of delivery thereof. 
 Section 7.9. Governing Law. 

This Deposit Agreement and the Receipts and all rights hereunder and thereunder and provisions hereof and thereof shall be governed by, and
construed in accordance with, the laws of the State of New York. 
 Section 7.10. Inspection of Deposit Agreement. 

Copies of this Deposit Agreement shall be filed with the Depositary and the Depositary’s Agents and shall be open to inspection during
business hours at the Depositary’s Office and the respective offices of the Depositary’s Agents, if any, by any holder of a Receipt. 

Section 7.11. Headings. 

The headings of articles and sections in this Deposit Agreement and in the form of the Receipt set forth in Exhibit A
hereto have been inserted for convenience only and are not to be regarded as a part of this Deposit Agreement or the Receipts or to have any bearing upon the meaning or interpretation of any provision contained herein or in the Receipts. 

  
 23 

 IN WITNESS WHEREOF, the Company and the Depositary have duly executed this Agreement as of
the day and year first above set forth, and all holders of Receipts shall become parties hereto by and upon acceptance by them of delivery of Receipts issued in accordance with the terms hereof. 

 

	
	SUNTRUST BANKS, INC.
	
	 /s/ Paul Burdiss

	 Name: Paul Burdiss
 Title: Senior Vice President
and Treasurer

	
	U.S. BANK NATIONAL ASSOCIATION
	
	 /s/ Steven J. Gomes

	 Name: Steven J. Gomes
 Title: Vice
President

  
 24 

 EXHIBIT A 

[FORM OF FACE OF RECEIPT] 
  

			
	Depositary Receipt No. [    ]	  	CUSIP No.: [    ]
		  	ISIN No.: [    ]

 [IF GLOBAL RECEIPT IS ISSUED: UNLESS THIS GLOBAL RECEIPT IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE DEPOSITARY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY RECEIPT ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS
IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY
OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
 TRANSFERS OF THIS
GLOBAL RECEIPT SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL RECEIPT SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE
WITH THE RESTRICTIONS SET FORTH IN THE DEPOSIT AGREEMENT REFERRED TO BELOW.] 
 [    ] DEPOSITARY SHARES 

DEPOSITARY RECEIPT FOR DEPOSITARY SHARES EACH 

REPRESENTING 1/100TH OF ONE SHARE OF PERPETUAL PREFERRED STOCK, 

SERIES F, 
 OF 

SUNTRUST BANKS, INC. 

INCORPORATED UNDER THE LAWS OF THE STATE OF GEORGIA 

SEE REVERSE FOR CERTAIN DEFINITIONS 
 Dividend
Payment Dates: Beginning June 15, 2014, through December 15, 2019, each March 15, June 15, September 15 and December 15. Beginning March 15, 2020, each
March 15, June 15, September 15 and December 15. 

  
 A-1 

 U.S. BANK NATIONAL ASSOCIATION, as Depositary (the “Depositary”), hereby certifies
that Cede & Co. is the registered owner of [            ] DEPOSITARY SHARES (“Depositary Shares”), each Depositary Share representing 1/100th
of one share of Perpetual Preferred Stock, Series F, no par value, liquidation preference $100,000 per share, (the “Stock”), of SunTrust Banks, Inc., a Georgia corporation (the “Corporation”), on deposit with
the Depositary, subject to the terms and entitled to the benefits of the Deposit Agreement dated as of November 7, 2014 (the “Deposit Agreement”), among the Corporation, the Depositary and the holders from time to time of the
Depositary Receipts. By accepting this Depositary Receipt, the holder hereof becomes a party to and agrees to be bound by all the terms and conditions of the Deposit Agreement. This Depositary Receipt shall not be valid or obligatory for any purpose
or entitled to any benefits under the Deposit Agreement unless it shall have been executed by the Depositary by the manual signature of a duly authorized officer or, if executed in facsimile by the Depositary, countersigned by a Registrar in respect
of the Depositary Receipts by the manual signature of a duly authorized officer thereof.  
 This Depositary Receipt is transferable
in New York, New York. 
 Dated:
[                ] 
  

			
	U.S. Bank National Association, Depositary
		
	By:	 	  

		 	Authorized Officer

  
 A-2 

 [FORM OF REVERSE OF RECEIPT] 

SUNTRUST BANKS, INC. 
 SUNTRUST
BANKS, INC. WILL FURNISH WITHOUT CHARGE TO EACH RECEIPTHOLDER WHO SO REQUESTS A COPY OF THE DEPOSIT AGREEMENT AND A COPY OR SUMMARY OF THE ARTICLES OF AMENDMENT ESTABLISHING THE PERPETUAL PREFERRED STOCK, SERIES F, OF SUNTRUST BANKS, INC. ANY
SUCH REQUEST IS TO BE ADDRESSED TO THE DEPOSITARY NAMED ON THE FACE OF THIS RECEIPT. 
  

 
 The Corporation
will furnish without charge to each stockholder who so requests the powers, designations, preferences and relative, participating, optional or other special rights of each class of stock or series thereof of the Corporation, and the qualifications,
limitations or restrictions of such preferences and/or rights. Such request may be made to the Corporation or to the Transfer Agent. 

EXPLANATION OF ABBREVIATIONS 

The following abbreviations when used in the form of ownership on the face of this certificate shall be construed as though they were written
out in full according to applicable laws or regulations. Abbreviations in addition to those appearing below may be used. 
  

							
	 Abbreviation
	  	 Equivalent Phrase
	  	 Abbreviation
	  	 Equivalent Phrase

	JT TEN	  	As joint tenants, with right of survivorship and not as tenants in common	  	TEN BY ENT	  	As tenants by the entireties
				
	TEN IN COM	  	As tenants in common	  	UNIF GIFT MIN ACT	  	Uniform Gifts to Minors Act

  

											
	 Abbreviation
	  	 Equivalent Word
	  	 Abbreviation
	  	 Equivalent Word
	  	Abbreviation	  	 Equivalent Word

	ADM	  	Administrator(s), Administratrix	  	EX	  	 Executor(s),
 Executrix
	  	PAR	  	Paragraph
						
	AGMT	  	Agreement	  	FBO	  	For the benefit of	  	PL	  	Public Law
						
	ART	  	Article	  	FDN	  	Foundation	  	TR	  	(As) trustee(s), for, of
						
	CH	  	Chapter	  	GDN	  	Guardian(s)	  	U	  	Under
						
	CUST	  	Custodian for	  	GDNSHP	  	Guardianship	  	UA	  	Under agreement
						
	DEC	  	Declaration	  	MIN	  	Minor(s)	  	UW	  	Under will of, Of will of, Under last will & testament
						
	EST	  	Estate, of Estate of	  		  		  		  	

  
 A-3 

 For value received,
                 hereby sell(s), assign(s) and transfer(s) unto 
  

                       
                                         
                                         
                                         
           
 PLEASE INSERT SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER OF ASSIGNEE 

PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS INCLUDING POSTAL ZIP CODE OF ASSIGNEE 

Depositary Shares represented by the within Receipt, and do(es) hereby irrevocably constitute and appoint
                 Attorney to transfer the said Depositary Shares on the books of the within named Depositary with full power of substitution
in the premises. 
 Dated:                  

 

			
		 	NOTICE: The signature to the assignment must correspond with the name as written upon the face of this Receipt in every particular, without alteration or enlargement or any change whatsoever.

 SIGNATURE GUARANTEED 
 NOTICE:
The signature(s) should be guaranteed by an eligible guarantor institution (banks, stockbrokers, savings and loan associations, and credit unions with membership in an approved signature guarantee medallion program), pursuant to Rule 17Ad-15 under the Securities Exchange Act of 1934. 

  
 A-4 

 EXHIBIT B 

Form of Officer’s Certificate 

I,                 ,
[title]                 of SunTrust Banks, Inc. (the “Corporation”), hereby certify that pursuant to the terms of an Articles of
Amendment filed with the Secretary of State of the State of Georgia on [                  ] (the “Articles”), and pursuant to
resolutions adopted by the Pricing Committee of the Board of Directors the Corporation has established the Perpetual Preferred Stock, Series F which the Corporation desires to deposit with the Depositary for the purposes of being subject to the
terms and conditions of the Deposit Agreement, dated as of November 7, 2014, by and among the Corporation, U.S. Bank National Association and the Holders of Receipts issued thereunder from time to time (the “Deposit Agreement”). In
connection therewith, the Board of Directors or a duly authorized committee thereof has authorized the terms and conditions with respect to the Perpetual Preferred Stock, Series F as described in the Articles attached as Annex A hereto. Any terms of
the Perpetual Preferred Stock, Series F that are not so described in the Articles and any terms of the Receipts representing such Perpetual Preferred Stock, Series F that are not described in the Deposit Agreement are described below: 

Aggregate Number of shares of Perpetual Preferred Stock, Series F issued and deposited on the day hereof: 

CUSIP Number for Receipt: 
 Denomination of Depositary Share per

 share of Perpetual Preferred Stock, Series F (if different than 

1/100th of a share of Perpetual Preferred Stock, Series F): 

Redemption Provisions (if different 
 than as set forth in the
Deposit 
 Agreement): 
 Name of Global Receipt Depositary (if
different than DTC): 
 Name of Registrar 
 with Respect to the
Receipts (if 
 other than U.S. Bank National Association.): 

Name of Registrar, 
 Transfer Agent, and 

Paying Agent with Respect to the 
 Perpetual Preferred Stock,
Series F: 
 Special terms and conditions: 
 Closing date:

  

  
 B-1 

 All capitalized terms used but not defined herein shall have such meaning as ascribed thereto in the Deposit
Agreement. 
 This certificate is dated [
                 ]. 
  

			
	
                     

	Name:	 	
	Title:	 	

  

  
 B-2 

 EXHIBIT C 

Dividend Calculation 

Holders of Stock will be entitled to receive, only when, as and if declared by the Company’s Board of Directors or a duly authorized
committee of the Board of Directors, out of assets legally available for payment, cash dividends. These dividends will be payable at a rate (the “Dividend Rate”) equal to (i) 5.625% per annum for each semi-annual dividend period
from November 7, 2014 to, but excluding, December 15, 2019, (the “Fixed Rate Period”) and (ii) three-month LIBOR plus a spread of 3.86% per annum, for each quarterly dividend period from December 15, 2019 through
the redemption date of the Stock, if any (the “Floating Rate Period”), applied to the $100,000 liquidation preference per share of Stock and will be paid (a) during the Fixed Rate Period, semi-annually, in arrears, on June 15 and
December 15 of each year, except as provided below, beginning on June 15, 2015 and ending on December 15, 2019, and (b) during the Floating Rate Period, quarterly, in arrears, on
March 15, June 15, September 15 and December 15 of each year, except as provided below, beginning on March 15, 2020 (each, a “Dividend Payment Date”), with respect to the Dividend Period, or portion
thereof, ending on the day preceding the respective Dividend Payment Date. 
 A “Dividend Period” means each period
commencing on (and including) a Dividend Payment Date and continuing to (but not including) the next succeeding Dividend Payment Date, except that the first Dividend Period for the initial issuance of Stock will commence upon November 7, 2014.

 If a day on or before December 15, 2019 that would otherwise be a Dividend Payment Date is not a business day, then such date will
nevertheless be a dividend payment date but dividends on the Stock, when, as and if declared, will be paid on the next succeeding business day (without adjustment in the amount of the dividend per share of the Stock). If a day after
December 15, 2019 that would otherwise be a Dividend Payment Date is not a business day, then the next succeeding business day will be the applicable dividend payment date and dividends, when, as and if declared, will be paid on such next
succeeding business day. 
 Dividends payable on the Shares for the Fixed Rate Period will be computed on the basis of a 360-day year consisting of twelve 30-day months. Dividends payable on the Shares for the Floating Rate Period will be computed based on the actual number of days in a dividend
period and a 360-day year. 
 The Dividend Rate for each Dividend Period in the Floating Rate Period
will be determined by the calculation agent using three-month LIBOR as in effect on the second London banking day prior to the beginning of the dividend period, which date is the “dividend determination date” for the dividend
period. The calculation agent then will add three-month LIBOR as determined on the dividend determination date and the applicable spread. Absent manifest error, the calculation agent’s determination of the dividend rate for a dividend period
for the Shares will be binding and conclusive. 
 A “London banking day” is any day on which dealings in deposits in U.S.
dollars are transacted in the London interbank market. 
  

  
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 The term “three-month LIBOR” means the London interbank offered rate for
deposits in U.S. dollars having an index maturity of three months in amounts of at least $1,000,000, as that rate appears on Reuters screen page “LIBOR01” at approximately 11:00 a.m., London time, on the relevant dividend determination
date. If no offered rate appears on Reuters screen page “LIBOR01” on the relevant dividend determination date at approximately 11:00 a.m., London time, then the calculation agent, after consultation with us, will select four major banks in
the London interbank market and will request each of their principal London offices to provide a quotation of the rate at which three-month deposits in U.S. dollars in amounts of at least $1,000,000 are offered by it to prime banks in the London
interbank market, on that date and at that time, that is representative of single transactions at that time. If at least two quotations are provided, three-month LIBOR will be the arithmetic average (rounded upward if necessary to the nearest .00001
of 1%) of the quotations provided. Otherwise, the calculation agent will select three major banks in New York City and will request each of them to provide a quotation of the rate offered by it at approximately 11:00 a.m., New York City time, on the
dividend determination date for loans in U.S. dollars to leading European banks having an index maturity of three months for the applicable dividend period in an amount of at least $1,000,000 that is representative of single transactions at that
time. If three quotations are provided, three-month LIBOR will be the arithmetic average (rounded upward if necessary to the nearest .00001 of 1%) of the quotations provided. Otherwise, three-month LIBOR for the next dividend period will be equal to
three-month LIBOR in effect for the then-current dividend period. 
  

  
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