Second Quarter 2020 Earnings Conference Call Kelly King - Chairman & CEO Daryl Bible - CFO JULY 16, 2020

Forward-Looking Statements This presentation contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, regarding the financial condition, results of operations, business plans and the future performance of Truist. Words such as “anticipates,” “believes,” “estimates,” “expects,” “forecasts,” “intends,” “plans,” “projects,” “may,” “will,” “should,” “would,” “could” and other similar expressions are intended to identify these forward-looking statements. In particular, forward looking statements include, but are not limited to, statements we make about: (i) Truist’s future liquidity position and access to funding sources, (ii) medium term performance targets relating to return on tangible common equity, efficiency ratios and capital ratios, (iii) the timing of anticipated events related to the core banking systems conversion, the amount of expense savings to be realized from the merger and the timing of such realization, and (iv) projections of future dividends. Forward-looking statements are not based on historical facts but instead represent management’s expectations and assumptions regarding Truist’s business, the economy and other future conditions. Such statements involve inherent uncertainties, risks and changes in circumstances that are difficult to predict. As such, Truist’s actual results may differ materially from those contemplated by forward-looking statements. While there can be no assurance that any list of risks and uncertainties or risk factors is complete, important factors that could cause actual results to differ materially from those contemplated by forward-looking statements include the following, without limitation, as well as the risks and uncertainties more fully discussed under Item 1A-Risk Factors in our Annual Report on Form 10-K for the year ended December 31, 2019, Item 1A-Risk Factors in our Quarterly Report on Form 10-Q for the quarter ended March 31, 2020 and in Truist's subsequent filings with the Securities and Exchange Commission: = risks and uncertainties relating to the merger of BB&T and SunTrust ("Merger"), including the ability to successfully integrate the companies or to = legislative, regulatory or accounting changes may adversely affect the businesses in which Truist is engaged; realize the anticipated benefits of the Merger; = = evolving regulatory standards, including with respect to capital and liquidity requirements, and results of regulatory examinations, may adversely expenses relating to the Merger and integration of heritage BB&T and heritage SunTrust; affect Truist's financial condition and results of operations; = deposit attrition, client loss or revenue loss following completed mergers or acquisitions may be greater than anticipated; = accounting policies and processes require management to make estimates about matters that are uncertain; = changes in the interest rate environment, including the replacement of LIBOR as an interest rate benchmark, which could adversely affect = general economic or business conditions, either nationally or regionally, may be less favorable than expected, resulting in, among other things, Truist’s revenue and expenses, the value of assets and obligations, and the availability and cost of capital, cash flows, and liquidity; slower deposit or asset growth, a deterioration in credit quality or a reduced demand for credit, insurance or other services; = volatility in mortgage production and servicing revenues, and changes in carrying values of Truist’s servicing assets and mortgages held for sale = due to changes in interest rates; risk management measures and management oversight functions may not identify or address risks adequately; = = management’s ability to effectively manage credit risk; unfavorable resolution of legal proceedings or other claims or regulatory or other governmental investigations or inquiries could result in negative publicity, protests, fines, penalties, restrictions on Truist's operations or ability to expand its business or other negative consequences, all of = inability to access short-term funding or liquidity; which could cause reputational damage and adversely impact Truist's financial condition and results of operations; = loss of client deposits, which could increase Truist’s funding costs; = competitors of Truist may have greater financial resources or develop products that enable them to compete more successfully than Truist and may be subject to different regulatory standards than Truist; = changes in Truist’s credit ratings, which could increase the cost of funding or limit access to capital markets; = failure to maintain or enhance Truist’s competitive position with respect to technology, whether it fails to anticipate client expectations or because = additional capital and liquidity requirements that will result from the Merger; its technological developments fail to perform as desired or are not rolled out in a timely manner or for other reasons, may cause Truist to lose market share or incur additional expense; = regulatory matters, litigation or other legal actions, which may result in, among other things, costs, fines, penalties, restrictions on Truist’s business activities, reputational harm, or other adverse consequences; = fraud or misconduct by internal or external parties, which Truist may not be able to prevent, detect or mitigate; = risks related to originating and selling mortgages, including repurchase and indemnity demands from purchasers related to representations and = operational or communications systems, including systems used by vendors or other external parties, may fail or may be the subject of a breach warranties on loans sold, which could result in an increase in the amount of losses for loan repurchases; or cyber-attack that, if successful, could adversely impact Truist's financial condition and results of operations; = failure to execute on strategic or operational plans, including the ability to successfully complete and/or integrate mergers and acquisitions; = security risks, including denial of service attacks, hacking, social engineering attacks targeting Truist’s employees and clients, malware intrusion = risks relating to Truist’s role as a servicer of loans, including an increase in the scope or costs of the services Truist is required to perform without or data corruption attempts, and identity theft could result in the disclosure of confidential information, adversely affect Truist’s business or any corresponding increase in Truist’s servicing fee, or a breach of Truist’s obligations as servicer; reputation or create significant legal or financial exposure; = = negative public opinion, which could damage Truist’s reputation; the COVID-19 pandemic has disrupted the global economy, and continuation of current conditions could adversely affect Truist’s capital and liquidity position, impair the ability of borrowers to repay outstanding loans and increase Truist's allowance for credit losses, impair collateral = increased scrutiny regarding Truist’s consumer sales practices, training practices, incentive compensation design and governance; values, cause an outflow of deposits, result in lost revenue or additional expenses, result in goodwill impairment charges, the impairment of other = financial and nonfinancial assets, and increase Truist’s cost of capital; competition from new or existing competitors, including increased competition from products and services offered by non-bank financial technology companies, may reduce Truist’s client base, cause Truist to lower prices for its products and services in order to maintain market = natural or other disasters, including acts of terrorism and pandemics, could have an adverse effect on Truist, including a material disruption of share or otherwise adversely impact Truist’s businesses or results of operations; Truist's operations or the ability or willingness of clients to access Truist's products and services; = Truist’s ability to introduce new products and services in response to industry trends or developments in technology that achieve market = widespread system outages, caused by the failure of critical internal systems or critical services provided by third parties could adversely impact acceptance and regulatory approval; Truist's financial condition and results of operations; and = Truist’s success depends on the expertise of key personnel, and if these individuals leave or change their roles without effective replacements = depressed market values for Truist’s stock and adverse economic conditions sustained over a period of time may require a write down to Truist's operations and integration activities could be adversely impacted. This could be exacerbated as Truist continues to integrate the goodwill. management teams of heritage BB&T and heritage SunTrust, or if the organization is unable to hire and retain qualified personnel; Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date they are made. Except to the extent required by applicable law or regulation, Truist undertakes no obligation to revise or update any forward-looking statements. 2

Non-GAAP Information This presentation contains financial information and performance measures determined by methods other than in accordance with accounting principles generally accepted in the United States of America ("GAAP"). Truist’s management uses these "non-GAAP" measures in their analysis of the Corporation's performance and the efficiency of its operations. Management believes these non-GAAP measures provide a greater understanding of ongoing operations, enhance comparability of results with prior periods and demonstrate the effects of significant items in the current period. The Company believes a meaningful analysis of its financial performance requires an understanding of the factors underlying that performance. Truist’s management believes investors may find these non-GAAP financial measures useful. These disclosures should not be viewed as a substitute for financial measures determined in accordance with GAAP, nor are they necessarily comparable to non- GAAP performance measures that may be presented by other companies. Below is a listing of the types of non-GAAP measures used in this presentation: Adjusted Efficiency Ratio - The adjusted efficiency ratio is non-GAAP in that it excludes securities gains (losses), amortization of intangible assets, merger-related and restructuring charges and other selected items. Truist's management uses this measure in their analysis of the Corporation's performance. Truist's management believes this measure provides a greater understanding of ongoing operations and enhances comparability of results with prior periods, as well as demonstrates the effects of significant gains and charges. Tangible Common Equity and Related Measures - Tangible common equity and related measures are non-GAAP measures that exclude the impact of intangible assets, net of deferred taxes, and their related amortization. These measures are useful for evaluating the performance of a business consistently, whether acquired or developed internally. Truist's management uses these measures to assess the quality of capital and returns relative to balance sheet risk. Core NIM - Core net interest margin is a non-GAAP measure that adjusts net interest margin to exclude the impact of purchase accounting. The purchase accounting marks and related amortization for a) securities acquired from the FDIC in the Colonial Bank acquisition and b) loans, deposits and long-term debt from SunTrust, Susquehanna, National Penn and Colonial Bank are excluded to approximate the yields paid by clients. Truist's management believes the adjustments to the calculation of net interest margin for certain assets and liabilities acquired provide investors with useful information related to the performance of Truist's earning assets. Adjusted Diluted EPS - The adjusted diluted earnings per share is non-GAAP in that it excludes merger-related and restructuring charges and other selected items, net of tax. Truist's management uses this measure in their analysis of the Corporation's performance. Truist's management believes this measure provides a greater understanding of ongoing operations and enhances comparability of results with prior periods, as well as demonstrates the effects of significant gains and charges. Adjusted Operating Leverage - The adjusted operating leverage ratio is non-GAAP in that it excludes securities gains (losses), amortization of intangible assets, merger-related and restructuring charges and other selected items. Truist's management uses this measure in their analysis of the Corporation's performance. Truist's management believes this measure provides a greater understanding of ongoing operations and enhances comparability of results with prior periods, as well as demonstrates the effects of significant gains and charges. Performance Ratios - The adjusted performance ratios are non-GAAP in that they exclude merger-related and restructuring charges, selected items and, in the case of return on average tangible common shareholders' equity, amortization of intangible assets. Truist's management uses these measures in their analysis of the Corporation's performance. Truist's management believes these measures provide a greater understanding of ongoing operations and enhances comparability of results with prior periods, as well as demonstrates the effects of significant gains and charges. Insurance Holdings Adjusted EBITDA - EBITDA is a non-GAAP measurement of operating profitability that is calculated by adding back interest, taxes, depreciation and amortization to net income. Truist's management also adds back merger- related and restructuring charges, incremental operating expenses related to the merger and other selected items. Truist's management uses this measure in its analysis of the Corporation's Insurance Holdings segment. Truist's management believes this measure provides a greater understanding of ongoing operations and enhances comparability of results with prior periods, as well as demonstrates the effects of significant gains and charges. Allowance for Loan and Lease Losses and Unamortized Fair Value Mark, and Allowance for Credit Losses and Unamortized Fair Value Mark, as a Percentage of Gross Loans and Leases - Allowance for loan and lease losses and unamortized fair value mark, and allowance for credit losses and unamortized fair value mark, as a percentage of gross loans and leases are non-GAAP measurements of credit reserves that are calculated by adjusting the ALLL or ACL, and loans and leases held for investment by the unamortized fair value mark. Truist's management uses these measures to assess loss absorption capacity. Selected items affecting results are included on slide 7. 3

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Living Our Purpose Inspire and Build Better Lives and Communities Serving our communities Addressing racial and social inequity ▪ Doubled our Truist Cares philanthropic pledge to $50 million to ▪ Expanding our efforts to advance equity, economic rebuild communities impacted by the pandemic empowerment and education for our clients, communities • Bringing technology services and devices to rural and urban and teammates communities that need it most ▪ Observed Juneteenth holiday • Funding community development financial institutions ▪ Hosted more than 200 “Days of Understanding” sessions to providing access to capital and technical assistance for date, with more scheduled this year, that are designed to women and minority-owned businesses and small businesses encourage bold dialogue on real-world topics in an open, with fewer than 10 employees trusting environment ▪ Continuing the onUp Movement, which has provided nearly 6 ▪ Scheduled virtual town hall meetings and discussion forums million people with tools to promote financial confidence for teammates to share candid, personal experiences ▪ Since 2009, we have completed more than 12,000 community ▪ Rolled out unconscious bias training for teammates and service projects, provided more than 700,000 volunteer hours, executive leadership, with plans to host 50 sessions in the and helped change the lives of more than 18 million people second half of the year ▪ Reached more than 1 million high school students through our Financial Foundations program ▪ Since the merger of equals, provided $462 million in financing to support 2,213 affordable housing units and creating ~1,500 new jobs across the Truist footprint 55

2Q20 Highlights Summary Income Statement ($ MM) 2Q20 Asset Quality and Capital 2Q20 1 Total taxable-equivalent revenue $5,902 Nonperforming assets as a % of total assets 0.25% Provision for credit losses 844 Net charge-offs as a % of average loans and leases 0.39% Income before income taxes 1,149 Common equity tier 1 capital ratio (CET1)4 9.7% Net income 958 Key Points Net income available to common shareholders 902 ▪ Strong core financial performance with $1.1 billion of adjusted net income or $0.82 per diluted share, yielding an adjusted ROTCE of Adjusted net income available to common shareholders2,3 1,111 14.17% and adjusted efficiency of 55.8% ▪ Margin compression impacted net interest income, partially offset GAAP / 2,3 2Q20 Performance Metrics Unadjusted Adjusted by an 8.1% sequential quarter increase in average earning assets ▪ Asset quality remained relatively stable; ratios tempered by Diluted earnings per share $0.67 $0.82 CARES Act relief ▪ Provision for credit losses was $844 million given the stressed Return on average assets 0.75% 0.91% economic environment Return on average common equity 5.90% 7.26% ▪ Fee income benefited from robust capital markets and residential mortgage performance as well as record insurance income Return on average tangible common equity2 11.83% 14.17% ▪ Continued expense discipline on a core basis ▪ Strong capital and liquidity levels; CET1 ratio increased by 0.4% to Efficiency ratio 66.1% 55.8% 9.7% at 6/30/20 1 Composed of taxable-equivalent net interest income and noninterest income 2 See non-GAAP reconciliations in the attached appendix 3 Excludes merger-related and restructuring charges, incremental operating expenses related to the merger and other items noted on slide 7 4 Current quarter regulatory capital information is preliminary 6

Selected Items Affecting 2Q20 Results Item Pre-Tax After-Tax Diluted EPS Impact ($ MM, except per share impact) Securities gains $300 $230 $0.17 Loss on extinguishment of debt $(235) $(180) $(0.13) Merger-related and restructuring charges $(209) $(160) $(0.12) Incremental operating expenses related to the merger1 $(129) $(99) $(0.07) 1 Includes costs not classified as merger-related and restructuring charges that are also excluded from adjusted disclosures. Refer to the non-GAAP disclosures in the Appendix. 7

Loans & Leases Average Loans & Leases HFI & Loan Yields Loans & Leases Held for Investment ($ MM) Linked Average balances 1Q20 2Q20 Quarter $123,215 Change $124,269 Commercial: $193,465 $171,268 Commercial and industrial $131,743 $152,991 $21,248 5.02% 4.21% CRE 27,046 27,804 758 1Q20 2Q20 Commercial construction 6,409 6,748 339 Commercial LHFI ($ MM) Consumer LHFI ($ MM) Lease financing 6,070 5,922 (148) Loans HFI yield (%) Key Points Consumer: Residential mortgage 52,993 52,380 (613) ▪ Average loans and leases increased $20.6 billion sequentially driven by commercial loan growth Residential home equity and direct 27,564 27,199 (365) • C&I loans increased $21.2 billion, reflecting line draws late in 1Q20 as clients built liquidity in response to COVID-19, as well as PPP loan Indirect auto 24,975 24,721 (254) funding in 2Q20 Indirect other 10,950 11,282 332 ◦ More than 80% of COVID-related line draws have been repaid Student 7,787 7,633 (154) ◦ Truist was the third largest lender of PPP loans based on gross funding Credit card 5,534 4,949 (585) • Consumer loans decreased slightly in the stressed economic environment Total loans & leases held for investment $301,071 $321,629 $20,558 ◦ Decrease in residential mortgages due to refinance activity, underwriting changes and overall decreased demand for consumer lending products ◦ Increase in indirect other loans due to demand for loans to finance recreational and power sports equipment ▪ End of period loans and leases down compared to 3/31/20 8

Deposits Average Deposits & Costs Deposits ($ MM) Linked $370,818 Average balances 1Q20 2Q20 Quarter $334,649 Change 0.70% Noninterest-bearing deposits $93,135 $113,875 $20,740 0.32% Interest checking 85,008 97,863 12,855 0.51% Money market and savings 120,936 126,071 5,135 0.22% 1Q20 2Q20 Time deposits 35,570 33,009 (2,561) Total deposits ($ MM) IBD cost (%) Total deposits $334,649 $370,818 $36,169 Total deposit cost (%) Key Points ▪ Continue to benefit from a flight to quality ▪ Average deposits increased $36.2 billion quarter over quarter, led by strong growth in noninterest-bearing deposits and interest checking as clients deposited proceeds from line draws, PPP loans and other stimulus programs • Business accounts drove 80% of the growth in DDA ▪ Average deposit mix for 2Q20 consisted of 30.7% noninterest-bearing, 26.4% interest checking, 34.0% money market and savings and 8.9% time deposits ▪ The cost of average total deposits and average interest-bearing deposits decreased 29 bps and 38 bps to 22 bps and 32 bps, respectively 9

Net Interest Income and Interest Rate Sensitivity Net Interest Income and Margin Key Points $3,687 ▪ Reported NIM for 2Q20 was 3.13%, down 45 bps vs. 1Q20 due to $3,479 declines in both core NIM and purchase accounting accretion (6 bps 3.58% decrease in PAA) ▪ Core NIM was 2.67%, down 39 bps vs. 1Q20 3.06% 3.13% • Excess reserves held at the Fed reduced NIM by 10 bps 2.67% • COVID-19 related deferred interest reduced NIM by 5 bps ▪ Actions taken to support net interest income and net interest margin 1Q20 2Q20 moving forward Net interest income TE ($ MM) Reported NIM (%) Core NIM (%) • Terminated $20 billion of FHLB advances resulting in a loss on early extinguishment of debt of $235 million • Instituted rate floors for significant portion of new LIBOR and 1 Change in Net Interest Income Prime-based commercial loan originations and renewals beginning in 2Q +2.56% +2.00% ▪ NII sensitivity moderated in view of higher fixed rate investment securities and lower fixed rate FHLB advances as well as lower +2.39% +1.84% benchmark interest rates mitigating down rate scenarios -1.44% -1.24% -3.86% -2.11% Down 50 Down 25 Up 50 Up 100 At 3/31/20 At 6/30/20 1 Market rate increase or decrease scenarios assume a ramped, parallel 25 basis point change per quarter in market interest rates and that market rates floor at 0 10

Noninterest Income Noninterest Income & Fee Income Ratio Noninterest Income ($ MM) Linked $2,423 1Q20 2Q20 Quarter Change $1,961 Insurance income $549 $581 $32 41.3% Service charges on deposits 305 202 (103) 34.9% Wealth management income 332 289 (43) 1Q20 2Q20 Card and payment related fees 187 171 (16) Noninterest income ($ MM) Fee income ratio (%) Residential mortgage income 245 341 96 Investment banking and trading income 118 274 156 Key Points Operating lease income 77 83 6 ▪ Noninterest income increased $462 million sequentially; 2Q20 results include $300 million in securities gains arising from the sale of non-agency MBS in June Income from bank-owned life insurance 44 45 1 ▪ When excluding the securities gains, noninterest income increased $160 million Lending related fees 67 66 (1) driven by strong capital market and residential mortgage performance as well as record insurance income Commercial real estate related income 44 49 5 • Trading income increased $148 million due to strong core trading income in 2Q20 and elevated counterparty reserves in the prior quarter Securities gains (losses) (2) 300 302 • Residential mortgage income benefited from higher lock volume and gain Other income (loss) (5) 22 27 on sale margins, yielding a $96 million quarter over quarter increase ▪ These favorable changes were partially offset by: Total noninterest income $1,961 $2,423 $462 • Lower service charges on deposits driven by reduced NSF and overdraft Adjusted noninterest income1 $1,963 $2,123 $160 incident rates as well as COVID-related refunds • Lower transaction volume due to reduced consumer spending • Lower wealth management income driven largely by market devaluation 1 Excludes securities gains (losses) and selected items in the Quarterly Performance Summary 11

Noninterest Expense & Efficiency Noninterest Expense & Efficiency Noninterest Expense ($ MM) Linked 1Q20 2Q20 Quarter $3,878 Change $3,431 66.1% Personnel expense $1,972 $2,008 $36 61.1% Net occupancy expense 221 243 22 54.6% 55.8% Professional fees and outside processing 247 289 42 Software expense 210 216 6 1Q20 2Q20 Equipment expense 116 120 4 Total noninterest expense ($ MM) GAAP efficiency (%) Marketing and customer development 84 56 (28) Adjusted efficiency (%) Operating lease depreciation 71 77 6 Key Points Loan-related expense 62 56 (6) ▪ Noninterest expense increased $447 million quarter over quarter, including: Amortization of intangibles 165 178 13 • $235 million loss on early debt extinguishment Regulatory costs 29 30 1 • $157 million increase in merger-related charges and operating expenses due Merger-related and restructuring charges 107 209 102 to elevated professional services associated with integration projects as well as Loss (gain) on early extinguishment of debt — 235 235 higher severance charges Other expense 147 161 14 • $13 million increase in intangible amortization ▪ Excluding these items, noninterest expense increased $42 million primarily due to Total noninterest expense $3,431 $3,878 $447 higher operating costs incurred in connection with COVID-19 Adjusted noninterest expense1 $3,085 $3,127 $42 • 2Q20 results reflect an increase of $27 million related to teammate support and $25 million of net occupancy expense related to the pandemic ▪ Average FTEs declined 735 vs. 1Q20; closed 42 branches in non-overlapping markets 1 Excludes merger-related charges, amortization of intangibles, loss on early extinguishment of debt and selected items in the Quarterly Performance Summary 12

Asset Quality Net Charge-offs and Provision Nonperforming Assets Loss Absorbency $8,750 $8,779 $893 $844 $1,177 $1,252 2.76% $5,702 0.39% $5,211 2.71% 0.36% 0.23% 0.25% 1.81% $272 $316 1.63% 1Q20 2Q20 1Q20 2Q20 1Q20 2Q20 Net charge-offs ($ MM) Nonperforming assets ($ MM) ALLL ($ MM) Provision as a % of total assets ALLL + unamortized loan marks ($ MM) as % of avg. loans and leases ALLL as % of loans and leases ALLL + unamortized loan marks as % of gross loans and leases1 Key Points ▪ Asset quality remains relatively stable, reflecting moderate deterioration in ▪ Asset quality ratios were tempered by mitigating impact of CARES Act relief certain asset quality ratios and improvement in others • Clients have requested accommodations related to $21.2 billion of • Annualized net charge-offs as a % of average loans and leases commercial loans, $13.8 billion of consumer loans and $211 million in increased 3 bps to 0.39% credit card balances as of 6/30/20, representing 11.2% of the loan portfolio • Nonperforming loans as a % of loans and leases increased 3 bps to ◦ Assessed impact of accommodations when establishing credit reserves 0.35% and deferred interest • Nonperforming assets as a % total assets increased 2 bps to 0.25% ◦ Included proactive grading changes to reflect current environment, resulting in an increase in watch list indicators • Allowance coverage of annualized net charge-offs decreased to 4.49X ▪ Provision for credit losses totaled $844 million for the quarter; reflects $522 million • Allowance coverage of nonperforming loans and leases improved to reserve build 5.24X 1 ALLL + unamortized loan marks as % of gross loans and leases is a non-GAAP measure. See non-GAAP reconciliations in the attached appendix. 13

Selected Credit Exposures A Highly Diversified Portfolio Outstandings % of Total Key Points as of 6/30/20 ($ B) Loans HFI ▪ Comprehensive monitoring, reviews and client outreach focusing on Hotels, Resorts & Cruise Lines* 7.7 2.4 % COVID-19 impacted industries informs the risk grading process Senior Care 6.0 1.9 % ▪ Loan balances for COVID-19 impacted industries rose 6% or $1.7 billion from prior quarter, ending 2Q20 at $30.1 billion Oil & Gas Portfolio 5.8 1.9 % • Excluding PPP loans, these balances rose 1% or $0.2 billion from the prior quarter Acute Care Facilities 4.6 1.5 % ▪ Hotels, Resorts & Cruise Lines increased $1.1 billion, largely due to the Restaurants 3.2 1.0 % inclusion of hotel REITs and real estate secured by hotels (categories not included previously) Sensitive Retail 2.8 0.9 % ▪ Energy-related outstandings were relatively flat quarter over quarter, reporting Total $ 30.1 9.6 % a $60 million decrease from 1Q20, ending at $5.8 billion ▪ Restaurant outstandings increased nearly $700 million, comprised mainly of Additional exposures (inclusive of above industries) full and limited service eateries Outstandings % of Total ▪ Leveraged lending balances totaled $9.5 billion, reflecting a 10% decrease as of 6/30/20 ($ B) Loans HFI quarter over quarter Leveraged Lending 9.5 3.0 % ▪ Small CRE totaled $4.8 billion in outstandings; largest concentrations in retail, single family residential, office and multifamily (representing 27%, 21%, 18% Small Secured Real Estate** 4.8 1.5 % and 11%, respectively) **Small CRE <=$2MM based on exposure Note: Industry exposures are based on systemic industry assignments (NAICS) at the borrower level *Hotel exposures include REITs, real estate secured and Grandbridge 14

Allowance for Credit Losses - CECL Key Points Allowance for Credit Losses ($ in MM) Highlights ▪ 2Q20 ACL of $6.1 billion or 1.95%; $522 million increase from 1Q20; excluding PPP loans, ACL was 2.02% $6,133 ▪ Reflects consideration of increased economic stress, sensitivity of impacted $5,611 $522 industries and proactive grading changes to reflect current environment • Results reflect detailed portfolio segment and/or individual borrower reviews to assess updated credit risk 1.95% Methodology / Assumptions 1.76% ▪ Estimation process included the use of multiple vended economic scenarios, including an assumed likelihood of worsening economic conditions ▪ Initial unemployment in double digits followed by continued sustained high single digit level of unemployment ▪ Extended recovery of GDP through the two-year reasonable and supportable forecast period ▪ Other considerations included: • Evaluation of multiple economic scenarios to inform economic imprecision adjustment 3/31/20 CECL 6/30/20 CECL • Assessments of government relief packages and payment accommodations on expected losses % of ACL to total LHFI • Adjustments to address model limitations arising from unprecedented economic conditions and forecasts 15

Stressed Loss Resiliency Well-Positioned for Future Credit Losses 2020 DFAST Results - Severely Adverse Scenario Stressed Loan Loss Loan Loss Rate Key Points Firm ($ B) (%) BAC $47.2 4.7% ▪ DFAST stressed loan losses estimated at $15.3 billion CFG $6.7 5.6% ▪ Loan loss rate of 5.1%, 60 bps better than peer average FITB $7.4 6.8% ▪ Significant loss absorbency represented by a JPM $64.4 6.6% combination of TFC’s ACL + unamortized loan marks KEY $5.1 5.3% • Totaling $9.2 billion in loss absorbency capacity, MTB $5.0 5.5% representing: PNC $12.1 5.1% ◦ 2.90% of end of period LHFI RF $5.3 6.3% ◦ 60% of 2020 DFAST severely adverse stress USB $17.1 5.8% losses WFC $47.4 4.9% Peer Average 5.7% TFC $15.3 5.1% Ranking 3 Source: FRB and Company Releases 16

Capital Position Capital Ratios Key Points ▪ Truist continued to build capital in 2Q20, with the CET1 ratio improving 0.4% to 9.7% at 6/30/20 (9.1% on a fully phased-in 13.9% basis) 12.7% ▪ Truist increased Tier 1 capital through the issuance of three 11.5% tranches of preferred stock during 2Q20, including $575 million of 10.5% Series O, $1 billion of Series P, and $1 billion of Series Q 9.7% 9.3% ▪ For 2Q20, our dividend and total payout ratios were 67.2% ▪ Truist Board expected to vote in July on a resolution to approve a 3Q20 common dividend of $0.45, consistent with the capital plan Truist submitted in connection with 2020 CCAR 1Q20 2Q20 Common equity Tier 1 Tier 1 Total Current quarter regulatory capital information is preliminary 17

Liquidity Position Category III Reduced LCR Key Points ▪ Liquidity ratios remain strong and include an average LCR of 116% for 2Q20 and a liquid asset buffer of 17.8% at 6/30/20 117% 116% ▪ Cash position remains strong with $35.8 billion cash reserves held at the FRB at 6/30/20 ▪ Access to secured funding sources remains robust with approximately $223 billion of cash, securities and secured borrowing capacity ▪ Holding company cash is sufficient to cover 21 months of contractual and expected outflows with no inflows 1Q20 2Q20 Truist Corporation ($ in B) Parent company cash $14.5 Months of stress capacity1 21 months Truist Bank ($ in B) FRB reserve balance $35.8 Investment portfolio (market value)2 77.8 Discount window capacity (none drawn) 53.7 FHLB capacity 55.7 Total $223.0 1 Stress capacity measures ability to cover contractual and expected outflows including dividends with no inflows 2 Includes $17.4 billion of encumbered securities 18

Digital Acceleration Digital Accolades Digital Commerce Growth Active Mobile App Users “U, BB&T now Truist’s mobile banking app, earned the number one ranking in the J.D. Power 2020 U.S. 3.79MM 264K Banking Mobile App Satisfaction Study 237K 3.43MM ℠ among national U.S. banks” May-19 YTD May-20 YTD May-19 May-20 11% growth in digital sales 10% growth in active users J.D. Power 2020 U.S. Banking Mobile App Satisfaction Study; among banks with more than $150B in deposits. Visit jdpower.com/awards and media.truist.com for information about BB&T, now Truist Mobile Check Deposit Activity Accounts With Paperless Adoption “LightStream, the national online lending division of SunTrust now Truist, earned the number one ranking 8.30MM in the J.D. Power 2020 U.S. Consumer Lending 1,819K Satisfaction StudySM among personal loan lenders” 1,480K 7.88MM For J.D. Power 2020 award information, visit jdpower.com/awards May-19 Sept-19 Jan-20 May-20 May-19 Sept-19 Jan-20 May-20 23% growth in transactions 5% growth in statement suppressions Results reflect combined transactions and accounts from BB&T and SunTrust; clients using mobile app at both organizations were counted only once Active client counts are where the client has logged in using the mobile app over the prior 90 days; digital commerce defined as products delivered through digital applications 19

Merger Update, Medium Term Targets & Cost Saves Performance Targets Recent Accomplishments ROTCE Adjusted CET1 Ratio Efficiency ▪ Branded Truist Insurance and Truist Foundation ▪ Introduced Advisor Desktop to heritage BB&T Financial Advisors Low 20% Low 50% 10% (2020 target) ▪ Consolidated social media platform leveraging Truist.com 1 Upcoming Conversion Events (2H20 - 1H21) Net Expense Savings - Run Rate ▪ Institutional broker dealer 4Q20 4Q21 4Q22 ▪ Mortgage origination annualized annualized annualized ▪ Wealth $640MM $1,040MM $1,600MM 40% of net 65% of net 100% of net Core Bank Conversion cost saves cost saves cost saves ▪ Reassessed timeline for core bank conversion in light of unforeseen impacts, including: Key Points • Strategic reallocation of resources for COVID-19 responses ▪ Committed to achieving run rate net cost saves of $1.6 billion by 4Q22 • Work-from-home transitions for Truist and offshore vendors ▪ Identified areas where cost savings can be accelerated, including • Critical vendor disruptions personnel expense and vendor spend ▪ Now anticipate core bank conversion in 1H22 vs. 2H21 previously ▪ Anticipate achieving 40% of net cost saves in 2020 (reflecting 4Q20 annualized) as opposed to 30% previously communicated 1 Does not include changes in net pension costs for 4Q21 and 4Q22 20

Value Proposition Purpose-driven: Committed to inspire and build better lives and communities Growing earnings stream with less volatility relative to Exceptional franchise with diverse Uniquely positioned to deliver Strong capital and liquidity with resilient peers over the products, services, and markets best-in-class efficiency and returns risk profile enhanced by the merger long-term while investing in the future ▪ Sixth-largest commercial bank in the ▪ Continued confidence in achieving ▪ Prudent and disciplined risk and U.S. $1.6 billion of net cost savings financial management ▪ Strong market share in vibrant, fast- ▪ Highly complementary businesses ▪ Conservative risk culture; leading growing MSAs throughout the and expanded client base combine to credit metrics; among the highest- Southeast and Mid-Atlantic and a yield revenue synergies rated large banks growing national presence ▪ Returns and capital buoyed by ▪ Diversification benefits arising from ▪ Comprehensive business mix with purchase accounting accretion the merger distinct capabilities in traditional ▪ Meaningful investments in tech ▪ Stress test well banking, capital markets and insurance capabilities, teammates, marketing ▪ Strong capital and liquidity equate to ▪ Better together: “Best of breed” talent, and advertising flight to quality technology, strategy and processes ▪ Defensive balance sheet insulated by purchase accounting marks, combined with CECL credit reserves 21

Appendix

Consumer Banking & Wealth Represents performance for Retail Community Banking, Wealth, Mortgage Banking, Dealer Retail Services and National Consumer Finance & Payments 1Q20 2Q20 Key Points ▪ Consumer Banking & Wealth continues to focus on integrating Net interest income $2,250 $2,156 businesses to realize revenue and expense synergies while managing risk to navigate the current economic environment Provision for credit losses 437 270 ▪ Noninterest income decreased $61MM, or 6% from 1Q20, driven by lower NSF and overdraft incident rates, lower transaction volumes and Noninterest income 1,067 1,006 market devaluation impacting wealth fees, partially offset by higher mortgage income from strong residential mortgage refinance activity Noninterest expense 1,988 1,969 ▪ Noninterest expense decreased $19MM, or 1% from 1Q20, primarily Income Statement ($ MM) driven by broad based declines in volume-related categories as a result Pre-tax income 892 923 of lower client activity in the quarter, partially offset by increased intangible amortization Segment net income 682 705 ▪ Average loans held for investment increased $0.1B from 1Q20, driven by mortgage warehouse lending, Sheffield and LightStream, offset by Average loans(1) $139.9 $140.0 broad based declines in consumer and residential mortgage lending ▪ Average deposits increased $14.7B, or 7% from 1Q20, primarily driven Balance Sheet ($ B) Average deposits 203.3 218.0 by reduced consumer spending and stimulus payment inflows due to COVID-19 Mortgages serviced for others ($ B)(2) $220.0 $209.1 Branches 2,957 2,916 Other Key Metrics ATMs 4,408 4,354 (1) Excludes loans held for sale (2) Amount reported reflects end of period balance A-1

Corporate & Commercial Banking Represents performance for Commercial Community Banking, Corporate & Investment Banking and CIG – Real Estate 1Q20 2Q20 Key Points ▪ Corporate & Commercial Banking remains focused on realizing revenue Net interest income $1,335 $1,296 and expense synergies as businesses integrate, while adapting to client needs in the rapidly changing economic environment Provision for credit losses 399 533 ▪ Noninterest income increased $164MM, or 36% from 1Q20, primarily driven by higher trading income as markets stabilized compared to the prior quarter and strong investment banking fees Noninterest income 460 624 ▪ Noninterest expense decreased $3MM from 1Q20, primarily driven by lower personnel and marketing expenses, partially offset by increased Noninterest expense 887 884 operating lease depreciation and expenses related to the merger Income Statement ($ MM) ▪ Average loans held for investment increased $20.3B, or 13% from Pre-tax income 509 503 1Q20, driven by revolver usage late in the prior quarter coupled with PPP loan originations in the current quarter • Revolver draws steadily declined over the course of the quarter Segment net income 418 409 ▪ Average deposits increased $20.9B, or 18% from 1Q20, primarily driven (1) by inflows related to PPP loans and reduced spending from commercial Average loans $158.6 $178.9 clients ($ B) Average deposits 119.2 140.2 Balance Sheet (1) Excludes loans held for sale A-2

Insurance Holdings Represents performance for Retail and Wholesale Insurance businesses and Premium Finance 2Q19 2Q20 Key Points Net interest income $25 $23 ▪ Reported record quarterly revenue and earnings in 2Q20 Noninterest income 570 598 ▪ 2Q20 organic growth driven by continued P&C price increases and better than anticipated exposure units Total revenue 595 621 ▪ 2Q20 new business down 4% due to COVID-related impacts Provision for credit losses 2 6 ▪ Margin expansion driven by prudent expense control Noninterest expense 444 449 ▪ Rebranded Truist Insurance Holdings in June and launched Income Statement ($ MM) truistinsurance.com Pre-tax income 149 166 ▪ McGriff Insurance Services, Inc., and McGriff, Seibels & Williams, Segment net income 111 125 Inc., rebranded to McGriff in May Y-o-Y organic revenue growth 11.6% 2.1% Net acquired revenue $34 $4 Performance based commissions 14 15 Adjusted EBITDA(1) 171 188 Performance ($ MM) Adjusted EBITDA margin(1) 28.8% 30.2% (1) EBITDA is a non-GAAP measurement of operating profitability that is calculated by adding back interest, taxes, depreciation and amortization to net income. Truist's management also adds back merger- related and restructuring charges, incremental operating expenses related to the merger and other selected items. Truist's management uses this measure in its analysis of the Corporation's Insurance Holdings segment. Truist's management believes this measure provides a greater understanding of ongoing operations and enhances comparability of results with prior periods, as well as demonstrates the effects of significant gains and charges. See non-GAAP reconciliations included in the attached Appendix. A-3

Allowance and Fair Value Marks Information ($ MM) Loans and Leases RUFC Total Allowance - End of period $ 5,702 $ 431 $ 6,133 Unamortized fair value mark(1) 3,077 — 3,077 Allowance plus unamortized fair value mark $ 8,779 $ 431 $ 9,210 Loans and leases held for investment $ 314,825 $ — $ 314,825 Unamortized fair value mark(1) 3,077 — 3,077 Gross loans and leases $ 317,902 $ — $ 317,902 ALLL and ACL as a percentage of loans and leases - GAAP 1.81 % 1.95 % ALLL and ACL and unamortized fair value mark as a percentage of gross loans and leases - adjusted (1)(2) 2.76 2.90 (1) Unamortized fair value mark includes credit, interest rate and liquidity components. (2) Allowance for loan and lease losses and unamortized fair value mark, and allowance for credit losses and unamortized fair value mark, as a percentage of gross loans and leases are non-GAAP measurements of credit reserves that are calculated by adjusting the ALLL or ACL, and loans and leases held for investment by the unamortized fair value mark. Truist's management uses these measures to assess loss absorption capacity. A-4

Purchase Accounting Summary(1) ($ MM) June 30, 2020 March 31, 2020 Loans and Leases(2) Beginning balance unamortized fair value mark $ (3,539) $ (4,564) Accretion 440 454 CECL adoption - reserves on PCD assets — 378 Purchase accounting adjustments and other activity 22 193 Ending balance $ (3,077) $ (3,539) Core deposit and other intangible assets Beginning balance $ 3,168 $ 3,142 Amortization (178) (165) Amortization in net occupancy expense (6) (5) Purchase accounting adjustments and other activity 32 196 Ending balance $ 3,016 $ 3,168 Deposits(3) Beginning balance unamortized fair value mark $ (54) $ (76) Amortization 17 22 Ending balance $ (37) $ (54) Long-Term Debt(3) Beginning balance unamortized fair value mark $ (285) $ (312) Amortization 23 27 Ending balance $ (262) $ (285) (1) Includes the merger with SunTrust, as well as other acquisitions. This summary includes only selected information and does not represent all purchase accounting adjustments. (2) Purchase accounting marks on loans and leases includes credit, interest and liquidity components, and are generally recognized using the level-yield method over the remaining life of the individual loans or recognized in full in the event of prepayment. (3) Purchase accounting marks on liabilities represents interest rate marks on time deposits and long-term debt and are recognized using the level-yield method over the term of the liability. A-5

2020 Preferred Stock Projected Dividends Projected 2020 Dividends Truist Preferred Outstandings ($ MM) 3Q20 4Q20 1Q21 Series F $450.0 $5.9 $5.9 $5.9 Series G $500.0 6.5 6.5 6.5 Series H $465.0 6.5 6.5 6.5 Series I $172.5 Greater of 3ML+0.53% or 4% Greater of 3ML+0.53% or 4% Greater of 3ML+0.53% or 4% Series J $101.5 Greater of 3ML+0.645% or 4% Greater of 3ML+0.645% or 4% Greater of 3ML+0.645% or 4% Series L $750.0 — 18.9 — Series M $500.0 — 12.8 — Series N $1,700.0 40.8 — 40.8 Series O $575.0 7.9 7.5 7.5 Series P $1,000.0 — 24.8 — Series Q $1,000.0 — — 25.5 Q catch-up 1Q21 only n/a n/a +10.2 catch-up Estimated dividends based on current interest rates and amounts outstanding ($ MM) $70.4 $85.7 $105.7 3ML = 3-month LIBOR. Estimates assume an average LIBOR rate of 0.24% for 3Q20-2Q21. Actual 3ML could vary significantly causing dividend payments to differ from the estimates shown above. A-6

Non-GAAP Reconciliations

Non-GAAP Reconciliations Diluted EPS ($ MM, except per share data, shares in thousands) Quarter Ended June 30 March 31 Dec. 31 Sept. 30 June 30 2020 2020 2019 2019 2019 Net income available to common shareholders - GAAP $902 $986 $702 $735 $842 Merger-related and restructuring charges 160 82 176 26 19 Securities gains (losses) (230) 2 90 — — Loss on extinguishment of debt 180 — — — — Incremental operating expenses related to the merger 99 57 79 40 7 Corporate advance write off — — 1 — — Gain (loss) on loan portfolio sale — — 17 (3) — Redemption of preferred shares — — — 46 — Allowance release related to loan portfolio sale — — (19) (12) — Net income available to common shareholders - adjusted $1,111 $1,127 $1,046 $832 $868 Weighted average shares outstanding - diluted 1,355,834 1,357,545 934,718 775,791 774,603 Diluted EPS - GAAP $0.67 $0.73 $0.75 $0.95 $1.09 Diluted EPS - adjusted(1) $0.82 $0.83 $1.12 $1.07 $1.12 (1) The adjusted diluted earnings per share is non-GAAP in that it excludes merger-related and restructuring charges and other selected items, net of tax. Truist's management uses this measure in their analysis of the Corporation's performance. Truist's management believes this measure provides a greater understanding of ongoing operations and enhances comparability of results with prior periods, as well as demonstrates the effects of significant gains and charges. A-8

Non-GAAP Reconciliations Efficiency Ratio ($ MM) Quarter Ended June 30 March 31 Dec. 31 Sept. 30 June 30 2020 2020 2019 2019 2019 Efficiency ratio numerator - noninterest expense - GAAP $ 3,878 $ 3,431 $ 2,575 $ 1,840 $ 1,751 Merger-related and restructuring charges, net (209) (107) (223) (34) (23) Gain (loss) on early extinguishment of debt (235) — — — — Incremental operating expense related to the merger (129) (74) (101) (52) (9) Amortization (178) (165) (71) (29) (32) Corporate advance write off — — (2) — — Efficiency ratio numerator - adjusted $ 3,127 $ 3,085 $ 2,178 $ 1,725 $ 1,687 Efficiency ratio denominator - revenue(1) - GAAP $ 5,871 $ 5,611 $ 3,625 $ 3,003 $ 3,042 Taxable equivalent adjustment 31 37 25 23 24 Securities (gains) losses, net (300) 2 116 — — Gain (loss) on loan portfolio sale — — 22 (4) — Efficiency ratio denominator - adjusted $ 5,602 $ 5,650 $ 3,788 $ 3,022 $ 3,066 Efficiency ratio - GAAP 66.1 % 61.1 % 71.0 % 61.3 % 57.6 % Efficiency ratio - adjusted(2) 55.8 54.6 57.5 57.1 55.1 (1) Revenue is defined as net interest income plus noninterest income. (2) The adjusted efficiency ratio is non-GAAP in that it excludes securities gains (losses), amortization of intangible assets, merger-related and restructuring charges and other selected items. Truist's management uses this measure in their analysis of the Corporation's performance. Truist's management believes this measure provides a greater understanding of ongoing operations and enhances comparability of results with prior periods, as well as demonstrates the effects of significant gains and charges. A-9

Non-GAAP Reconciliations Calculations of tangible common equity and related measures ($ MM, except per share data, shares in thousands) As of / Quarter Ended June 30 March 31 Dec. 31 Sept. 30 June 30 2020 2020 2019 2019 2019 Common shareholders' equity $ 61,634 $ 61,295 $ 61,282 $ 29,177 $ 28,650 Less: Intangible assets, net of deferred taxes 26,083 26,263 26,482 10,281 10,317 Tangible common shareholders' equity(1) $ 35,551 $ 35,032 $ 34,800 $ 18,896 $ 18,333 Outstanding shares at end of period 1,347,609 1,347,461 1,342,166 766,303 766,010 Common shareholders' equity per common share $ 45.74 $ 45.49 $ 45.66 $ 38.07 $ 37.40 Tangible common shareholders' equity per common share(1) 26.38 26.00 25.93 24.66 23.93 Net income available to common shareholders $ 902 $ 986 $ 702 $ 735 $ 842 Plus amortization of intangibles, net of tax 137 126 57 22 24 Tangible net income available to common shareholders(1) $ 1,039 $ 1,112 $ 759 $ 757 $ 866 Average common shareholders' equity $ 61,484 $ 60,224 $ 38,031 $ 29,040 $ 28,188 Less: Average intangible assets, net of deferred taxes 26,161 26,429 14,760 10,298 10,326 Average tangible common shareholders' equity(1) $ 35,323 $ 33,795 $ 23,271 $ 18,742 $ 17,862 Return on average common shareholders' equity 5.90 % 6.58 % 7.33 % 10.04 % 11.98 % Return on average tangible common shareholders' equity(1) 11.83 13.23 12.91 16.03 19.45 (1) Tangible common equity and related measures are non-GAAP measures that exclude the impact of intangible assets, net of deferred taxes, and their related amortization. These measures are useful for evaluating the performance of a business consistently, whether acquired or developed internally. Truist's management uses these measures to assess the quality of capital and returns relative to balance sheet risk. These measures are not necessarily comparable to similar measures that may be presented by other companies. A-10

Non-GAAP Reconciliations Performance Ratios ($ MM) Quarter Ended June 30, 2020 Return on Average Return on Average Return on Average Common Tangible Common Assets Shareholders’ Equity Shareholders’ Equity(2) Net income - GAAP $ 958 Net income available to common shareholders - GAAP $ 902 $ 902 Merger-related and restructuring charges 160 160 160 Securities gains (losses) (230) (230) (230) Loss on extinguishment of debt 180 180 180 Incremental operating expenses related to the merger 99 99 99 Amortization 137 Numerator - adjusted(1) $ 1,167 $ 1,111 $ 1,248 Average assets $ 514,720 Average common shareholders' equity $ 61,484 $ 61,484 Plus: Estimated impact of adjustments on denominator — 105 105 Less: Average intangible assets, net of deferred taxes 26,161 Denominator - adjusted(1) $ 514,720 $ 61,589 $ 35,428 Reported ratio 0.75 % 5.90 % 11.83 % Adjusted ratio 0.91 7.26 14.17 (1) Tangible common equity and related measures are non-GAAP measures that exclude the impact of intangible assets, net of deferred taxes, and their related amortization. These measures are useful for evaluating the performance of a business consistently, whether acquired or developed internally. Truist's management uses these measures to assess the quality of capital and returns relative to balance sheet risk. These measures are not necessarily comparable to similar measures that may be presented by other companies. (2) Tangible common equity is a non-GAAP measure. The reconciliation for this measure is on page A-10. A-11

Non-GAAP Reconciliations Operating Leverage(1) ($ MM) Quarter Ended June 30 March 31 June 30 % Growth 2Q20 vs. 2020 2020 2019 1Q20 2Q19 (annualized) Revenue(2) - GAAP $ 5,871 $ 5,611 $ 3,042 18.7 % 93.3 % Taxable equivalent adjustment 31 37 24 Securities (gains) losses, net (300) 2 — Revenue(2) - adjusted $ 5,602 $ 5,650 $ 3,066 (3.4) % 87.9 % Noninterest expense - GAAP $ 3,878 $ 3,431 $ 1,751 52.6 % 107.6 % Merger-related and restructuring charges, net (209) (107) (23) Gain (loss) on early extinguishment of debt (235) — — Incremental operating expense related to the merger (129) (74) (9) Amortization (178) (165) (32) Noninterest expense - adjusted $ 3,127 $ 3,085 $ 1,687 5.7 % 85.8 % Operating leverage - GAAP (33.9) % (14.3) % Operating leverage - adjusted(3) (9.1) % 2.1 % (1) Operating leverage is defined as percentage growth in revenue growth less percentage growth in noninterest expense. (2) Revenue is defined as net interest income plus noninterest income. (3) The adjusted operating leverage ratio is non-GAAP in that it excludes securities gains (losses), amortization of intangible assets, merger-related and restructuring charges and other selected items. Truist's management uses this measure in their analysis of the Corporation's performance. Truist's management believes this measure provides a greater understanding of ongoing operations and enhances comparability of results with prior periods, as well as demonstrates the effects of significant gains and charges. These measures are not necessarily comparable to similar measures that may be presented by other companies. A-12

Non-GAAP Reconciliations Core NIM ($ MM) Quarter Ended June 30 March 31 2020 2020 Net interest income - GAAP $ 3,448 $ 3,650 Taxable-equivalent adjustment 31 37 Net interest income - taxable-equivalent 3,479 3,687 Accretion of mark, net of interest reversals - PCI loans NA NA Accretion of mark on acquired loans (440) (454) Accretion of mark on acquired liabilities (40) (49) Accretion of mark on securities acquired from FDIC (3) (3) Net interest income - core(1) $ 2,996 $ 3,181 Average earning assets - GAAP $ 446,825 $ 413,533 Average balance - mark on acquired loans 3,297 3,759 Average balance - mark on securities acquired from FDIC 300 336 Average earning assets - core(1) $ 450,422 $ 417,628 Annualized net interest margin: Reported - taxable-equivalent 3.13 % 3.58 % Core(1) 2.67 3.06 (1) Core net interest margin is a non-GAAP measure that adjusts net interest margin to exclude the impact of purchase accounting. The purchase accounting marks and related amortization for a) securities acquired from the FDIC in the Colonial Bank acquisition and b) loans, deposits and long-term debt from SunTrust, Susquehanna, National Penn and Colonial Bank are excluded to approximate the yields paid by clients. Truist's management believes the adjustments to the calculation of net interest margin for certain assets and liabilities acquired provide investors with useful information related to the performance of Truist's earning assets. These measures are not necessarily comparable to similar measures that may be presented by other companies. A-13

Non-GAAP Reconciliations Insurance Holdings Adjusted EBITDA ($ MM) June 30 June 30 2020 2019 Segment net interest income $ 23 $ 25 Noninterest income 598 570 Total revenue $ 621 $ 595 Segment net income (loss) - GAAP $ 125 $ 111 Provision (benefit) for income taxes 41 38 Depreciation & amortization 21 20 EBITDA 187 169 Merger-related and restructuring charges, net 1 2 Adjusted EBITDA(1) $ 188 $ 171 Adjusted EBITDA(1) margin 30.2 % 28.8 % (1) EBITDA is a non-GAAP measurement of operating profitability that is calculated by adding back interest, taxes, depreciation and amortization to net income. Truist's management also adds back merger-related and restructuring charges, incremental operating expenses related to the merger and other selected items. Truist's management uses this measure in its analysis of the Corporation's Insurance Holdings segment. Truist's management believes this measure provides a greater understanding of ongoing operations and enhances comparability of results with prior periods, as well as demonstrates the effects of significant gains and charges. A-14

Non-GAAP Reconciliations Allowance with Fair Value Marks ($ MM) As of/For the Quarter Ended June 30 March 31 December 31 2020 2020 2019 ALLL $ 5,702 $ 5,211 $ 1,549 Unamortized fair value mark (1) 3,077 3,539 4,564 Allowance plus unamortized fair value mark $ 8,779 $ 8,750 $ 6,113 Loans and leases held for investment $ 314,825 $ 319,229 299,842 Unamortized fair value mark (1) 3,077 3,539 4,564 Gross loans and leases $ 317,902 $ 322,768 $ 304,406 Allowance for loan and lease losses as a percentage of loans and leases - GAAP 1.81 % 1.63 % 0.52 % Allowance for loan and lease losses and unamortized fair value mark as a percentage of gross loans and leases - Adjusted (1) (2) 2.76 % 2.71 % 2.01 % (1) Unamortized fair value mark includes credit, interest rate and liquidity components. (2) Allowance for loan and lease losses and unamortized fair value mark, and allowance for credit losses and unamortized fair value mark, as a percentage of gross loans and leases are non-GAAP measurements of credit reserves that are calculated by adjusting the ALLL or ACL, and loans and leases held for investment by the unamortized fair value mark. Truist's management uses these measures to assess loss absorption capacity. A-15

To inspire and build better lives and communities