Truist Financial Corp

Business Overview

Truist Financial Corporation operates through its WB and CSBB operating segments, offering a wide range of financial products and services. These services include consumer and small business banking, commercial and corporate banking, investment banking and capital markets, wealth management, payments, and specialized lending businesses. The company provides banking services to individuals, businesses, and municipalities, including various loans, deposits, and advisory services.

Truist Financial Corporation is a purpose-driven financial services company committed to inspiring and building better lives and communities. Headquartered in Charlotte, North Carolina, Truist has leading market share in many of the high-growth markets in the U.S. and offers a wide range of products and services through its WB and CSBB operating segments, including consumer and small business banking, commercial and corporate banking, investment banking and capital markets, wealth management, payments, and specialized lending businesses. Refer to the “Segment Results” section in MD&A and “Note 21. Operating Segments” for additional information on the Company’s reportable segments. Truist Bank, the largest subsidiary of Truist Financial Corporation, was chartered in 1872 and is the oldest bank headquartered in North Carolina. Truist Bank is one of the 10 largest commercial banks in the U.S. and provides banking and trust services for clients through its digital platform and 1,927 branches as of December 31, 2025. Product and Services Truist offers a wide range of banking services to individuals, businesses, and municipalities. We offer a variety of loans and lease financing to consumer and wholesale clients primarily within our geographic footprint, including commercial and industrial, commercial real estate, commercial construction, residential mortgage, home equity, indirect auto, other consumer, and credit card lending. We also provide a wide range of non-lending services to consumer and wholesale clients, including deposits, merchant services, treasury management services, trust and retirement services, comprehensive wealth advisory services, investment brokerage services, asset management, and capital markets services. For additional information about lending and non-lending products and services offered by Truist, see the “Lending Activities” section in MD&A and “Note 21. Operating Segments,” respectively. Market Area The following table details Truist Bank’s deposit market share and branch locations by state: Table 1: Deposit Market Share and Branch Locations by State % of Truist’s Deposits (2) Deposit Market Share Rank (2) Number of Branches (3) Florida 22 % 4th 441 Georgia 21 1st 202 Virginia 14 3rd 259 North Carolina (1) 13 2nd 276 Maryland 7 3rd 138 Tennessee 5 5th 98 Pennsylvania 4 12th 136 South Carolina 4 3rd 95 Texas 3 18th 96 West Virginia 2 2nd 42 Kentucky 2 6th 53 Washington, D.C. 1 5th 18 Alabama 1 6th 49 New Jersey 1 24th 20 Other states — NA 4 (1) Deposit market share rank excludes home office deposits. (2) Source: www.FDIC.gov data as of June 30, 2025. (3) As of December 31, 2025. 4 Truist Financial Corporation Competition The financial services industry is intensely competitive and constantly evolving. Management believes that Truist’s purpose, mission, and values, including a caring client-first approach, are a competitive advantage that strengthens the Company’s ability to provide financial products and services to businesses and individuals in its markets. Legislative, regulatory, economic, and technological changes, as well as continued consolidation within the industry, have resulted in increased competition from new and existing market participants, which is expected to continue in the future.

Company Facts

Risk Flags

• High debt-to-equity: 7.40