Barclays Global Financial Services Conference

Merger Update, Medium Term Targets and Cost Saves Recent Accomplishments ■ Launched Truist Momentum ■ Unveiled Truist Corporate Social Responsibility Report¹ ■ Completed end-to-end Truist Securities conversion ◉ Completed branch divestiture Upcoming Conversion Events (2H20 - 1H21) ■ Mortgage origination ◉ Wealth Uniquely positioned to deliver results Performance Targets ROTCE Adjusted Efficiency CET1 Ratio Low 20% Low 50% 10% (2020 target) 4Q20 annualized Net Expense Savings - Run Rate² $640MM 40% of net cost saves 4Q21 annualized $1,040MM 65% of net cost saves 4Q22 annualized $1,600MM 100% of net cost saves Core Bank Conversion Reassessed timeline for core bank conversion in light of unforeseen impacts, including: • . Strategic reallocation of resources for COVID-19 responses Work-from-home transitions for Truist and offshore vendors • Critical vendor disruptions Now anticipate core bank conversion in 1H22 vs. 2H21 previously Key Points ■ Committed to achieving run rate net cost saves of $1.6 billion by 4Q22 Identified areas where cost savings can be accelerated, including personnel expense, real estate consolidations and vendor spend ☐ Anticipate achieving 40% of net cost saves in 2020 (reflecting 4Q20 annualized) versus 30% previously communicated 1 Please visit https://ir.truist.com/corporate-social-responsibility to view the complete Corporate Social Responsibility Report 2 Does not include changes in net pension costs for 4Q21 and 4Q22 TRUIST HH 15

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