Third Quarter 2022 Earnings Conference Call

3Q22 acquisition detail Description Strategic Rationale Initial impact Ongoing financial impact I BenefitMall BankDirect Capital Finance - Acquisition of a wholesale employee benefits insurance broker focused on small to medium sized businesses Closed 9/1/22 Significantly expands wholesale employee benefits offerings (dental, life, vision, disability, long-term care); fills void in Truist Insurance Holdings (TIH) offerings Provides incremental IRM opportunities across TIH and Truist commercial/corporate clients ~20 bps impact to CET1 ~$160 million annual revenue with strong projected growth Mid-20's EBITDA margin initially; growing to mid-30's over time ~$350 million intangible asset¹ Mid-teens IRR Entered into an agreement to purchase BankDirect Capital Finance, the insurance premium finance unit of Texas Capital Bancshares Anticipated to close 4Q22 Adds scale and life insurance premium finance capabilities - Pro forma: TIH becomes the #2 premium finance player Expands west coast presence High-quality, short duration loan portfolio ~$3.2 billion of loans added (with strong projected growth) ~15 bps impact to CET1 (RWA impact from loans and premium paid) ~1.60% cash ROA - ~250 bps blended spread across P&C and life² Mid-20's steady state efficiency ratio ~$80 million intangible asset³ Mid-teens IRR 1 Amortized over various time periods based on the economic benefit of the intangible asset, not to exceed 15 years 2 P&C loan spreads generally indexed to the 6-month Treasury and life loan generally spread indexed to BSBY 3 BankDirect useful life and amortization methodology have not yet been determined TRUIST HH 17

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