TRUIST FINANCIAL CORP

Previous wording

The following terms may be used throughout this report, including the consolidated financial statements and related notes.

Current wording

The following terms may be used throughout this report, including in the consolidated financial statements and related notes.

Previous wording

The preparation of financial statements in accordance with GAAP requires management to make estimates that are used in arriving at the carrying value of assets and liabilities, and amounts reported for revenues and expenses. Certain of these estimates are considered critical because they require the use of difficult, complex, or subjective judgments, which are sensitive to changes in key assumptions or inputs. Actual results could differ from those estimates. Estimates that are particularly susceptible to significant change include the ACL; fair value measurement; goodwill; income taxes; and pension and postretirement benefit obligations.

Current wording

The preparation of financial statements in accordance with GAAP requires management to make estimates that are used in arriving at the carrying value of assets and liabilities, and amounts reported for revenues and expenses. Certain of these estimates are considered critical because they require the use of difficult, complex, or subjective judgments, which are sensitive to changes in key assumptions or inputs. Actual results could differ from those estimates. Estimates that are particularly susceptible to significant change include the ACL; fair value measurement; goodwill; income taxes; and pension and post-retirement benefit obligations.

Previous wording

(1)The fair value of received/pledged financial instruments is limited to the carrying amount of the associated asset or liability. The fair value of securities received that was permitted to be resold or repledged was $4.4 billion as of June 30, 2026 and $3.1 billion as of December 31, 2025. Of the fair value of securities permitted to be resold or repledged, the fair value of securities repledged or resold was $3.0 billion as of June 30, 2026 and $2.2 billion as of December 31, 2025.

Current wording

(1)The fair value of received/pledged financial instruments is limited to the carrying amount of the associated asset or liability. The fair value of securities received that was permitted to be resold or repledged was $3.9 billion as of September 30, 2026 and $3.1 billion as of December 31, 2025. Of the fair value of securities permitted to be resold or repledged, the fair value of securities repledged or resold was $2.4 billion as of September 30, 2026 and $2.2 billion as of December 31, 2025.

Previous wording

The commercial ALLL decreased $26 million and the consumer and credit card ALLL decreased $17 million, in the three months ended June 30, 2026. The commercial ALLL decreased $35 million and the consumer and credit card ALLL decreased $12 million, in the six months ended June 30, 2026. The decrease in the commercial ALLL primarily reflects lower reserve requirements for CRE and commercial construction, partially offset by loan growth and a modest increase in reserve rates for commercial and industrial. The decrease in consumer and credit card reserves primarily reflects lower reserve requirements in residential mortgage, home equity, and credit card reserves, partially offset by a modest increase in reserve rates in the other consumer portfolio.

Current wording

The commercial ALLL decreased $103 million and the consumer and credit card ALLL decreased $817 million, in the three months ended September 30, 2026. The decrease in the commercial ALLL primarily reflects lower reserve requirements for CRE and commercial construction, that was partially offset by a modest increase in the reserve rate for the commercial and industrial portfolio. The decrease in consumer and credit card reserves primarily reflects the RAC loan sale, that was partially offset by a modest increase in reserve rates in the other consumer portfolio.

Previous wording

The ALLL estimation process estimates expected loan and lease losses using quantitative components, primarily driven by statistical models, and qualitative components that reflect management’s judgment regarding future loss risk. The quantitative models incorporate borrower and portfolio characteristics, historical loss experience, and current and forecasted economic conditions. The quantitative models have been designed to estimate losses using macroeconomic forecasts over a reasonable and supportable forecast period of two years, followed by a reversion to long-term historical loss conditions over a one-year period. Forecasts of macroeconomic variables used in loss forecasting include unemployment trends, U.S. real GDP, corporate credit spreads, property values, home price indices, and used car prices.

Current wording

The ALLL estimation process estimates expected loan and lease losses using quantitative components, primarily driven by statistical models, and qualitative components that reflect management’s judgment regarding future loss risk. The quantitative models incorporate borrower and portfolio characteristics, historical loss experience, and current and forecasted economic conditions. The quantitative models have been designed to estimate losses using macroeconomic forecasts over a reasonable and supportable forecast period of two years, followed by a reversion to long-term historical loss conditions over a one-year period. Forecasts of macroeconomic variables used in loss forecasting include unemployment trends, U.S. real GDP, corporate credit spreads, commercial real estate vacancy rates, property values, consumer confidence, home price indices, and used car prices.

Previous wording

The tables above exclude trial modifications totaling $168 million and $42 million as of June 30, 2026 and 2025, respectively. Such modifications will be included in the modification activity disclosure if the borrower successfully completes the trial period and the loan modification is finalized.

Current wording

The tables above exclude trial modifications totaling $157 million and $72 million as of September 30, 2026 and 2025, respectively. Such modifications will be included in the modification activity disclosure if the borrower successfully completes the trial period and the loan modification is finalized.

Previous wording

As of June 30, 2026 and 2025, Truist had $405 million and $430 million, respectively, in unfunded commitments to lend additional funds to borrowers experiencing financial difficulty for which Truist has modified the terms of the loans in the ways described above during the twelve months preceding June 30, 2026 and 2025, respectively.

Current wording

As of September 30, 2026 and 2025, Truist had $387 million and $584 million, respectively, in unfunded commitments to lend additional funds to borrowers experiencing financial difficulty for which Truist has modified the terms of the loans in the ways described above during the twelve months preceding September 30, 2026 and 2025, respectively.

Previous wording

Upon Truist’s determination that a modified loan (or portion of a loan) has subsequently been deemed uncollectible, the loan (or a portion of the loan) is written off. Therefore, the amortized cost basis of the loan is reduced by the uncollectible amount and the ACL is adjusted by the same amount.

Current wording

Upon Truist’s determination that a modified loan (or portion of a loan) has subsequently been deemed uncollectible, the loan (or portion of the loan) is written off. Therefore, the amortized cost basis of the loan is reduced by the uncollectible amount and the ACL is adjusted by the same amount.

Previous wording

Truist closely monitors the performance of the loans that are modified to borrowers experiencing financial difficulty to understand the effectiveness of its modification efforts. The following tables summarize the period-end delinquency status and amortized cost of loans that were modified in the last 12 months. The period-end delinquency status of loans that were modified are disclosed at amortized cost and reflect the impact of any paydowns, payoffs, or charge-offs that occurred subsequent to modification.

Current wording

Truist closely monitors the performance of the loans modified for borrowers experiencing financial difficulty to understand the effectiveness of its modification efforts. The following tables summarize the period-end delinquency status and amortized cost of loans that were modified in the last 12 months. The period-end delinquency status of loans that were modified is disclosed at amortized cost and reflects the impact of any paydowns, payoffs, or charge-offs that occurred subsequent to modification.

Previous wording

The following tables provide the amortized cost basis of financing receivables that were modified in the last twelve months and were in payment default at period end:

Current wording

The following tables provide the amortized cost basis of financing receivables that were modified in the last 12 months and were in payment default at period end:

Previous wording

The following table presents a roll forward of residential MSRs recorded at fair value:

Current wording

The following table presents a rollforward of residential MSRs recorded at fair value:

Previous wording

(2)Excludes operating leases held for sale that totaled $4 million at June 30, 2026 and December 31, 2025.

Current wording

(2)Excludes operating leases held for sale that totaled $7 million and $4 million at September 30, 2026, and December 31, 2025, respectively.

Previous wording

The types of short-term borrowings that have been, or may be, used by the Company include Federal funds purchased, securities sold under repurchase agreements, master notes, commercial paper, short-term bank notes, and short-term FHLB advances. The carrying value of FHLB advances classified as short-term borrowings was $17.6 billion at June 30, 2026 and $22.1 billion at December 31, 2025. Additionally, securities sold short, which are used for client-related trading activities, are classified as Short-term borrowings in the Consolidated Balance Sheets. Refer to “Note 13. Fair Value Disclosures” for additional information on securities sold short and “Note 2. Securities Financing Activities” for information on securities sold under repurchase agreements.

Current wording

The types of short-term borrowings that have been, or may be, used by the Company include Federal funds purchased, securities sold under repurchase agreements, master notes, commercial paper, short-term bank notes, and short-term FHLB advances. The carrying value of FHLB advances classified as short-term borrowings was $7.8 billion at September 30, 2026 and $22.1 billion at December 31, 2025. Additionally, securities sold short, which are used for client-related trading activities, are classified as Short-term borrowings in the Consolidated Balance Sheets. Refer to “Note 13. Fair Value Disclosures” for additional information on securities sold short and “Note 2. Securities Financing Activities” for information on securities sold under repurchase agreements.

Previous wording

In December 2025, Truist announced that its Board authorized the repurchase of up to $10.0 billion of common stock effective immediately with no expiration date, replacing the previous repurchase authority from June 2024, as part of Truist’s overall capital distribution strategy. For the six months ended June 30, 2026, the Company repurchased $2.4 billion of common stock, including excise tax, which represented 46.6 million shares, through open market repurchases under the December 2025 repurchase plan. Repurchased shares revert to the status of authorized and unissued shares upon repurchase. At June 30, 2026, Truist had remaining authorization to repurchase up to $7.7 billion of common stock under the December 2025 repurchase plan.

Current wording

In December 2025, Truist announced that its Board authorized the repurchase of up to $10.0 billion of common stock effective immediately with no expiration date, replacing the previous repurchase authority from June 2024, as part of Truist’s overall capital distribution strategy. For the nine months ended September 30, 2026, the Company repurchased $3.6 billion of common stock, including excise tax, which represented 69.9 million shares, through open market repurchases under the December 2025 repurchase plan. Repurchased shares revert to the status of authorized and unissued shares upon repurchase. At September 30, 2026, Truist had remaining authorization to repurchase up to $6.5 billion of common stock under the December 2025 repurchase plan.

Previous wording

On May 15, 2026, Truist issued $500 million of Series S non-cumulative perpetual preferred stock with a stated dividend rate of 6.25% per annum for net proceeds of approximately $495 million. Dividends, if declared by the Board, are payable on the 15th day of March, June, September, and December of each year, commencing on September 15, 2026. The dividend rate will reset on June 15, 2031, and on each following fifth anniversary of the reset date to the five-year U.S. Treasury rate plus 2.13%. Truist issued depositary shares, each of which represents a fractional ownership interest in a share of the 20,000 shares of the Company’s Series S preferred stock. The preferred stock has no stated maturity and redemption is solely at the option of the Company in whole, but not in part, within 90 days following a regulatory capital treatment event, as defined in the prospectus. In addition, the preferred stock may be redeemed in whole or in part on any dividend payment date on or after June 15, 2031.

Current wording

On May 15, 2026, Truist issued $500 million of Series S non-cumulative perpetual preferred stock with a stated dividend rate of 6.25% per annum for net proceeds of approximately $495 million. Dividends, if declared by the Board, are payable on the 15th day of March, June, September, and December of each year, which commenced on September 15, 2026. The dividend rate will reset on June 15, 2031, and on each following fifth anniversary of the reset date to the five-year U.S. Treasury rate plus 2.13%. Truist issued depositary shares, each of which represents a fractional ownership interest in a share of the 20,000 shares of the Company’s Series S preferred stock. The preferred stock has no stated maturity and redemption is solely at the option of the Company in whole, but not in part, within 90 days following a regulatory capital treatment event, as defined in the prospectus. In addition, the preferred stock may be redeemed in whole or in part on any dividend payment date on or after June 15, 2031.

Previous wording

Truist utilizes a variety of financial instruments to mitigate exposure to risks and meet the financing needs and provide investment opportunities for clients. These financial instruments include commitments to extend credit, letters of credit and financial guarantees, derivatives, and other investments. Truist also has commitments to fund certain affordable housing investments and contingent liabilities related to certain sold loans. Refer to “Note 16. Commitments and Contingencies” in Truist’s Annual Report on Form 10-K for the year ended December 31, 2025 for additional discussion of Truist’s tax credit and certain equity investments, total return swaps, and other commitments.

Current wording

Truist utilizes a variety of financial instruments to mitigate exposure to risks and meet clients’ financing needs and provide clients with investment opportunities. These financial instruments include commitments to extend credit, letters of credit and financial guarantees, derivatives, and other investments. Truist also has commitments to fund certain affordable housing investments and contingent liabilities related to certain sold loans. Refer to “Note 16. Commitments and Contingencies” in Truist’s Annual Report on Form 10-K for the year ended December 31, 2025 for additional discussion of Truist’s tax credit and certain equity investments, total return swaps, legal proceedings, and other commitments.

Previous wording

Truist also provides estimates of reasonably possible losses, including for disclosed matters, when potential losses become reasonably possible and the amount of loss can be reasonably estimated. The Company estimates reasonably possible losses, in excess of amounts accrued, of up to approximately $150 million in the aggregate as of June 30, 2026. This estimate does not represent Truist’s maximum loss exposure, and actual losses may vary significantly. Also, the outcome of a particular matter may be one that the Company did not take into account in its estimate because the Company judged the likelihood of that outcome to be remote. In addition, the matters underlying this estimate may change from time to time. Estimated losses, like accruals, are based upon currently available information and involve considerable uncertainties and judgment.

Current wording

Truist also provides estimates of reasonably possible losses, including for disclosed matters, when potential losses become reasonably possible and the amount of loss can be reasonably estimated. Estimates of reasonably possible losses do not represent Truist’s maximum loss exposure, and actual losses may vary significantly. Also, the outcome of a particular matter may be one that the Company did not take into account in its estimate because the Company judged the likelihood of that outcome to be remote. In addition, the matters underlying the Company’s estimate may change from time to time. Estimated losses, like accruals, are based upon currently available information and involve considerable uncertainties and judgment. Subject to the foregoing, the Company believes the upper end of the range of aggregate reasonably possible losses, in excess of amounts accrued, is immaterial as of September 30, 2026, to its consolidated financial condition, consolidated results of operations, and consolidated cash flows.

Previous wording

This class action case was filed in Fulton County State Court on July 12, 2010, and an amended complaint was filed on August 9, 2010. Plaintiff alleged that all overdraft fees charged to his account which related to debit card and ATM transactions were actually interest charges and therefore subject to the usury laws of Georgia. The amended complaint asserted claims for violations of civil and criminal usury laws, conversion, and money had and received, and sought damages on a class-wide basis, including refunds of challenged overdraft fees and pre-judgment interest. On October 6, 2017, the trial court granted plaintiff’s motion for class certification and defined the class as “Every Georgia citizen who had or has one or more accounts with SunTrust Bank and who, from July 12, 2006, to October 6, 2017 (i) had at least one overdraft of $500.00 or less resulting from an ATM or debit card transaction (the “Transaction”); (ii) paid any Overdraft Fees as a result of the Transaction; and (iii) did not receive a refund of those Fees,” and the granting of a certified class was affirmed on appeal. The class sought a return of up to $452 million in paid overdraft fees plus prejudgment interest, which based on this amount of claimed fees would have been estimated at approximately $478 million as of June 30, 2026.

Current wording

This class action case was filed in Fulton County State Court on July 12, 2010, and an amended complaint was filed on August 9, 2010. Plaintiff alleged that all overdraft fees charged to his account which related to debit card and ATM transactions were actually interest charges and therefore subject to the usury laws of Georgia. The amended complaint asserted claims for violations of civil and criminal usury laws, conversion, and money had and received, and sought damages on a class-wide basis, including refunds of challenged overdraft fees and pre-judgment interest. On October 6, 2017, the trial court granted plaintiff’s motion for class certification and defined the class as “Every Georgia citizen who had or has one or more accounts with SunTrust Bank and who, from July 12, 2006, to October 6, 2017 (i) had at least one overdraft of $500.00 or less resulting from an ATM or debit card transaction (the “Transaction”); (ii) paid any Overdraft Fees as a result of the Transaction; and (iii) did not receive a refund of those Fees,” and the granting of a certified class was affirmed on appeal. The class sought a return of up to $452 million in paid overdraft fees plus prejudgment interest.

Previous wording

On January 20, 2026, without any admission of liability or wrongdoing, Truist entered into a settlement agreement with the class to resolve the case. Under the settlement, Truist will contribute up to $240 million to a settlement fund that will be used to pay fees and expenses of class counsel, costs of settlement administration, an incentive payment for the class representative, and valid claims submitted by class members. The court granted final approval of the settlement on May 26, 2026, and class members have until September 14, 2026 to submit claims to the settlement administrator.

Current wording

On January 20, 2026, without any admission of liability or wrongdoing, Truist entered into a settlement agreement with the class to resolve the case. Under the settlement, Truist agreed to contribute up to $240 million to a settlement fund to pay fees and expenses of class counsel, costs of settlement administration, an incentive payment for the class representative, and valid claims submitted by class members. The court granted final approval of the settlement on May 26, 2026, and the time period for class members to submit claims ended on September 14, 2026. Truist’s estimated final payments to the settlement fund are included in its existing legal accruals and are expected to be made in the fourth quarter of 2026.

Previous wording

At June 30, 2026 and December 31, 2025, investments totaling $715 million and $622 million, respectively, have been excluded from the tables above as they are valued based on net asset value as a practical expedient. These investments primarily consist of certain SBIC funds.

Current wording

At September 30, 2026, and December 31, 2025, investments totaling $721 million and $622 million, respectively, have been excluded from the tables above as they are valued based on net asset value as a practical expedient. These investments primarily consist of certain SBIC funds.

Previous wording

For additional information on the valuation techniques and significant inputs for Level 2 and Level 3 assets and liabilities that are measured at fair value on a recurring basis, see “Note 18. Fair Value Disclosures” in Truist’s Annual Report on Form 10-K for the year ended December 31, 2025.

Current wording

For additional information on the valuation techniques and significant inputs for Level 2 and Level 3 assets and liabilities measured at fair value on a recurring basis, see “Note 18. Fair Value Disclosures” in Truist’s Annual Report on Form 10-K for the year ended December 31, 2025.

Previous wording

The following table provides information about certain assets measured at fair value on a nonrecurring basis held as of period end with valuation adjustments recorded during the period. The carrying values represent end of period values, which approximate the fair value.

Current wording

The following table provides information about certain assets measured at fair value on a nonrecurring basis held as of period end with valuation adjustments recorded during the period. The end of period carrying value approximates the fair value.

Previous wording

Loans and leases consist of larger commercial loans and leases that are collateral-dependent and other secured loans and leases that have been charged-off to the fair value of the collateral. Valuation adjustments for loans and leases are primarily recorded in the Provision for credit losses in the Consolidated Statements of Income. Refer to “Note 1. Basis of Presentation” in Truist’s Annual Report on Form 10-K for the year ended December 31, 2025 for additional discussion of individually evaluated loans and leases.

Current wording

Loans and leases consist of larger commercial loans and leases that are collateral-dependent, residential mortgages and commercial loans that are valued using market prices and measured at LOCOM, and other secured loans and leases that have been charged-off to the fair value of the collateral. Valuation adjustments on loans and leases in the table above include $251 million related to RAC loans that were transferred to held-for-sale during the third quarter of 2026. Valuation adjustments for loans and leases are primarily recorded in the Provision for credit losses in the Consolidated Statements of Income. Refer to “Note 1. Basis of Presentation” in Truist’s Annual Report on Form 10-K for the year ended December 31, 2025 for additional discussion of individually evaluated loans and leases.

Previous wording

The carrying value of the RUFC, which approximates the fair value, was $333 million and $317 million at June 30, 2026 and December 31, 2025, respectively. Cash and due from banks, interest-bearing deposits with banks, securities borrowed or purchased under agreements to resell, and short-term borrowings are reflected in the Consolidated Balance Sheets at cost, which approximates the fair value due to the short-term nature of these instruments and their limited inherent credit risk.

Current wording

The carrying value of the RUFC, which approximates the fair value, was $370 million and $317 million at September 30, 2026, and December 31, 2025, respectively. Cash and due from banks, interest-bearing deposits with banks, securities borrowed or purchased under agreements to resell, and short-term borrowings are reflected in the Consolidated Balance Sheets at cost, which approximates the fair value due to the short-term nature of these instruments and their limited inherent credit risk.

Previous wording

(2)As of June 30, 2026, closed portfolios of securities hedged under the portfolio layer method had an amortized cost of $19.4 billion, of which $14.8 billion was designated as the hedged item. As of December 31, 2025, closed portfolios of securities hedged under the portfolio layer method had an amortized cost of $27.4 billion, of which $16.4 billion was designated as the hedged item. The remaining amount of amortized cost is from securities with terminated hedges where the basis adjustment is being amortized into earnings using the effective interest method over the contractual life of the security and hedges not designated under the portfolio-layer method.

Current wording

(2)As of September 30, 2026, closed portfolios of securities hedged under the portfolio-layer method had an amortized cost of $18.5 billion, of which $14.8 billion was designated as the hedged item. As of December 31, 2025, closed portfolios of securities hedged under the portfolio-layer method had an amortized cost of $27.4 billion, of which $16.4 billion was designated as the hedged item. The remaining amount of amortized cost is from securities with terminated hedges where the basis adjustment is being amortized into earnings using the effective interest method over the contractual life of the security and hedges not designated under the portfolio-layer method.

Previous wording

(2)Includes income recognized from securities with terminated hedges that were reclassified to HTM of $9 million and $17 million for the three and six months ended June 30, 2026, respectively, and $9 million and $18 million for the three and six months ended June 30, 2025, respectively. The income recognized was offset by the amortization of the fair value mark. Refer to “Note 3. Investment Securities” for additional information on the hedge basis adjustment.

Current wording

(2)Includes income recognized from securities with terminated hedges that were reclassified to HTM of $10 million and $27 million for the three and nine months ended September 30, 2026, respectively, and $10 million and $29 million for the three and nine months ended September 30, 2025, respectively. The income recognized was offset by the amortization of the fair value mark. Refer to “Note 3. Investment Securities” for additional information on the hedge basis adjustment.

Previous wording

The following table summarizes amounts related to cash flow hedges, which consist of interest rate contracts:

Current wording

The following table summarizes amounts related to cash flow hedges:

Previous wording

(1)Includes deferred gains that are recorded in AOCI as a result of the reclassification to HTM of previously hedged securities of $318 million at June 30, 2026 and $335 million at December 31, 2025.

Current wording

(1)Includes deferred gains that are recorded in AOCI as a result of the reclassification to HTM of previously hedged securities of $308 million at September 30, 2026, and $335 million at December 31, 2025.

Previous wording

Of the after-tax net loss on active and terminated cash flow hedges in OCI as of June 30, 2026, losses of $401 million after-tax are expected to be reclassified into earnings in the next 12 months.

Current wording

Of the after-tax net loss on active and terminated cash flow hedges in OCI as of September 30, 2026, after-tax net losses of $683 million are expected to be reclassified into earnings in the next 12 months.

Previous wording

Truist has entered into risk participation agreements to share the credit exposure with other financial institutions on client-related interest rate derivative contracts. Under these agreements, the Company has guaranteed payment to a dealer counterparty in the event the counterparty experiences a loss on the derivative due to a failure to pay by the counterparty’s client. The Company manages its payment risk on its risk participations by monitoring the creditworthiness of the underlying clients through the normal credit review process that the Company would have performed had it entered into a derivative directly with the obligors. At June 30, 2026, the remaining terms on these risk participations ranged from less thanone year toten years. The potential future exposure represents the Company’s maximum estimated exposure to written risk participations, as measured by projecting a maximum value of the guaranteed derivative instruments based on scenario simulations and assuming 100% default by all obligors on the maximum value.

Current wording

Truist has entered into risk participation agreements to share the credit exposure with other financial institutions on client-related interest rate derivative contracts. Under these agreements, the Company has guaranteed payment to a dealer counterparty in the event the counterparty experiences a loss on the derivative due to a failure to pay by the counterparty’s client. The Company manages its payment risk on its risk participations by monitoring the creditworthiness of the underlying clients through the normal credit review process that the Company would have performed had it entered into a derivative directly with the obligors. At September 30, 2026, the remaining terms on these risk participations ranged from less thanone year to 11 years. The potential future exposure represents the Company’s maximum estimated exposure to written risk participations, as measured by projecting a maximum value of the guaranteed derivative instruments based on scenario simulations and assuming 100% default by all obligors on the maximum value.

Previous wording

Truist operates and measures business activity acrosstwo segments: CSBB and WB, with functional activities included in OT&C. The Company’s business segment structure is based on the manner in which financial information is evaluated by management as well as the products and services provided or the type of client served. The Chairman and CEO is the Truist CODM. The CODM regularly reviews segment net income and its significant components in comparison to expected results as part of evaluating segment performance and optimizing resource allocation. In this regular review, segment net income typically excludes amortization of intangibles and goodwill impairment which are separately presented in the table below, as applicable.

Current wording

Truist operates and measures business activity acrosstwo segments: CSBB and WB, with functional activities included in OT&C. The Company’s business segment structure is based on the manner in which financial information is evaluated by management as well as the products and services provided or the type of client served. The CEO is the Truist CODM. The CODM regularly reviews segment net income and its significant components in comparison to expected results as part of evaluating segment performance and optimizing resource allocation. In this regular review, segment net income typically excludes amortization of intangibles and goodwill impairment, which are separately presented in the table below, as applicable.

Previous wording

WB provides a comprehensive set of products, solutions, and advisory services to commercial, corporate, institutional, and wealth clients. Banking expertise and product capabilities are delivered through a combination of regional coverage across the Truist footprint and national industry coverage for real estate, investment banking, and capital markets clients. WB works with clients to meet their core banking needs, including traditional and specialized credit solutions and commercial payments to manage deposits, liquidity, payables, and receivables. Through investment banking capabilities, clients have full access to strategic advisory services, debt and equity capital markets, leveraged finance, and securitizations, with distribution channels and market making across both fixed income and equity markets. WB also invests in certain affordable housing, New Market Tax Credit, and renewable energy tax credit investments. Refer to “Note 12. Commitments and Contingencies” for additional information on these investments. The wealth business delivers asset management, trust, brokerage, and investment management, as well as specialized commercial products, while aligning closely with regional and industry banking coverage.

Current wording

WB provides a comprehensive set of products, solutions, and advisory services to commercial, corporate, institutional, and wealth clients. Banking expertise and product capabilities are delivered through a combination of regional coverage across the Truist footprint and national industry coverage for real estate, investment banking, and capital markets clients. WB works with clients to meet their core banking needs, including traditional and specialized credit solutions and commercial payments to manage deposits, liquidity, payables, and receivables. Through investment banking capabilities, clients have full access to strategic advisory services, debt and equity capital markets, leveraged finance, and securitizations, with distribution channels and market making across both fixed income and equity markets. WB also invests in certain affordable housing, New Markets Tax Credit, and renewable energy tax credit investments. Refer to “Note 12. Commitments and Contingencies” for additional information on these investments. The wealth business delivers asset management, trust, brokerage, and investment management, as well as specialized commercial products, while aligning closely with regional and industry banking coverage.

Previous wording

In the first quarter of 2026, the Company’s net intersegment interest income and expense methodology was enhanced to reflect a change to funds transfer pricing. Prior period results were revised to conform to the current allocation methodology. As a result of this methodology change, CSBB net interest income decreased $27 million for the three months ended June 30, 2025 and $56 million for the six months ended June 30, 2025, with off-setting increases in OT&C net interest income. For the same reason, WB net interest income decreased $99 million for the three months ended June 30, 2025 and $196 million for the six months ended June 30, 2025, with off-setting increases in OT&C net interest income.

Current wording

In the first quarter of 2026, the Company’s net intersegment interest income and expense methodology was enhanced to reflect a change to funds transfer pricing. Prior period results were revised to conform to the current allocation methodology. As a result of this methodology change, CSBB net interest income decreased $21 million for the three months ended September 30, 2025 and $77 million for the nine months ended September 30, 2025, with offsetting increases in OT&C net interest income. For the same reason, WB net interest income decreased $95 million for the three months ended September 30, 2025 and $291 million for the nine months ended September 30, 2025, with offsetting increases in OT&C net interest income.

Previous wording

Noninterest income includes inter-segment referral fees, as well as federal and state tax credits that are grossed up for the WB segment on a pre-tax equivalent basis, related primarily to certain community development investments with the offset reported in OT&C.

Current wording

Noninterest income includes intersegment referral fees, as well as federal and state tax credits that are grossed up for the WB segment on a pre-tax equivalent basis, related primarily to certain community development investments with the offset reported in OT&C.

Previous wording

(2)Other direct noninterest expense within the table above includes expenses for net occupancy, equipment, professional fees and outside processing, regulatory costs, and other expenses.

Current wording

(2)Other direct noninterest expense includes expenses for net occupancy, equipment, professional fees and outside processing, regulatory costs, and other expenses.

Previous wording

MD&A includes certain non-GAAP measures, including NII-TE, NIM-TE, Revenue-TE, TBVPS, and ROTCE. For reconciliations of TBVPS and ROTCE to the most directly comparable GAAP measures, see the “Non-GAAP Financial Measures” section in MD&A. Reconciliations of TE non-GAAP measures to the most directly comparable GAAP measures are included within Table 1: Earnings Highlights, Table 2-1: Taxable-Equivalent Net Interest Income and Rate / Volume Analysis, and Table 2-2: Taxable-Equivalent Net Interest Income and Rate / Volume Analysis. NIM – TE is calculated using net interest income on a TE basis to determine the total yield on interest-earning assets.

Current wording

MD&A includes certain non-GAAP measures, including NII-TE, NIM-TE, Revenue-TE, TBVPS, and ROTCE. For reconciliations of TBVPS and ROTCE to the most directly comparable GAAP measures, see the “Non-GAAP Financial Measures” section in MD&A. Reconciliations of TE non-GAAP measures to the most directly comparable GAAP measures are included within Table 1: Earnings Highlights, Table 2-1: Taxable-Equivalent Net Interest Income and Rate / Volume Analysis, and Table 2-2: Taxable-Equivalent Net Interest Income and Rate / Volume Analysis. NIM – TE is calculated using net interest income on a TE basis to determine the total yield on interest-earning assets. These measures are useful for evaluating the performance of a business consistently, whether acquired or developed internally. Truist’s management uses these measures to assess profitability, returns relative to balance sheet risk, and shareholder value.

Previous wording

During the second quarter of 2026, we returned $1.8 billion of capital to our common shareholders through $636 million of common stock dividends and $1.2 billion in common share repurchases. As of June 30, 2026, we had $7.7 billion remaining under our $10.0 billion common share-repurchase authorization.

Current wording

During the third quarter of 2026, we returned $1.8 billion of capital to shareholders, including $629 million in common stock dividends and $1.2 billion in common share repurchases. As of September 30, 2026, $6.5 billion remained under our $10.0 billion common share-repurchase authorization.

Previous wording

Net income available to common shareholders was $1.5 billion for the second quarter of 2026, an increase of 29% compared to the second quarter of 2025.

Current wording

Net income available to common shareholders was $684 million for the third quarter of 2026, a decrease of 49% compared to the third quarter of 2025.

Previous wording

Total revenue - TE was up 5.5% compared to the second quarter of 2025.

Current wording

Total revenue - TE was down 28% compared to the third quarter of 2025.

Previous wording

•NCOs as a percentage of loans and leases were 50 basis points, down one basis point compared to the second quarter of 2025.

Current wording

•NCOs as a percentage of loans and leases were 77 basis points, which included 39 basis points related to RAC.