Solid 3Q26 results; simplifying and reallocating resources to drive stronger growth, profitability, and returns Diluted EPS of $0.56; adjusted diluted EPS(1) of $1.16, up 12%[...]

Solid 3Q26 results; simplifying and reallocating resources to drive stronger growth, profitability, and returns Diluted EPS of $0.56; adjusted diluted EPS(1) of $1.16, up 12% compared to 3Q25
3Q26 Key Financial Data						3Q26 Performance Highlights(3)

CEO Commentary

"Since joining Truist, I've become even more confident in the strength of our franchise and the significant opportunities ahead. We delivered a solid quarter while also taking decisive actions to better position Truist for the future. These actions strengthen our risk, liquidity, and funding profile and create greater capacity to invest in our best businesses. We're simplifying the company and focusing our resources, capital, and expenses on the businesses and capabilities that will help us become the most important financial partner to our clients. Looking ahead, we remain confident in our ability to deliver against our near- and long-term ROTCE targets and will work to build a more focused company positioned to deliver sustainable growth and stronger returns for shareholders."

- Mike Lyons, Truist President & CEO

`

Contact:
Investors:			Brad Milsaps			[email protected]
Media:			Kyle Tarrance			[email protected]

Net Interest Income, Net Interest Margin, and Average Balances
			Quarter Ended												Change
(Dollars in millions)			3Q26			2Q26			3Q25						Link Quarter									Like Quarter
Interest income			$	6,030		$	5,967		$	6,286					$	63		1.1		%				$	(256)		(4.1)		%
Plus: TE adjustment(1)			44			46			51						(2)			(4.3)						(7)			(13.7)
Interest income - TE(1)			6,074			6,013			6,337						61			1.0						(263)			(4.2)
Interest expense			2,367			2,346			2,657						21			0.9						(290)			(10.9)
Net interest income - TE(1)			$	3,707		$	3,667		$	3,680					$	40		1.1						$	27		0.7
NIM - TE(1)			3.00		%	2.98		%	3.01		%				2 bps									(1) bp
Average Balances(2)
Total earning assets			$	491,430		$	492,461		$	486,006					$	(1,031)		(0.2)		%				$	5,424		1.1		%
Total interest-bearing liabilities			371,474			370,782			359,103						692			0.2						12,371			3.4
Yields / Rates(1)
Total earning assets			4.91		%	4.89		%	5.18		%				2 bps									(27) bps
Total interest-bearing liabilities			2.53			2.54			2.94						(1) bp									(41) bps

(1)Amounts related to interest income and yields are on a TE basis, which represents a non-GAAP measure, utilizing the federal income tax rate of 21% for the periods presented. Interest income includes certain fees, deferred costs, and dividends. A reconciliation of net interest income - TE to net interest income is included within the table above. NIM - TE is calculated using net interest income on a TE basis to determine the total yield on interest-earning assets.

(2)Represents daily average balances. Unrealized gains and losses on AFS securities are included in nonearning assets. Active hedge basis adjustments for fair value hedges are included in nonearning assets and other liabilities.

Taxable-equivalent net interest income was up $40 million, or 1.1%, compared to the second quarter of 2026, driven by an additional day and fixed asset and liability repricing, partially offset by lower loan balances. NIM - TE was 3.00%, up two basis points compared to the second quarter of 2026.

•Average earning assets decreased $1.0 billion, or 0.2%, primarily due to a decrease in average total loans of $2.3 billion, or 0.7%, partially offset by an increase in other earning assets of $1.2 billion, or 3.4%.

•The yield on the average total loan portfolio was 5.71%, up three basis points. The yield on the average securities portfolio was 3.03%, up seven basis points.

•Average deposits increased $5.8 billion, or 1.4%, average short-term borrowings decreased $10.3 billion, or 36%, and average long-term debt increased $4.5 billion, or 11%.

•The average cost of total deposits was 1.59%, up three basis points. The average cost of short-term borrowings was 3.96%, down one basis point. The average cost of long-term debt was 4.73%, down four basis points.

Taxable-equivalent net interest income was up $27 million, or 0.7%, compared to the third quarter of 2025, primarily driven by fixed asset and liability repricing, higher client deposit balances, and higher loan balances, partially offset by lower loan spreads and unfavorable deposit mix. NIM - TE was 3.00%, stable compared to the third quarter of 2025.

•Average earning assets increased $5.4 billion, or 1.1%, primarily due to an increase in average total loans of $7.4 billion, or 2.3%.

•The yield on the average total loan portfolio was 5.71%, down 29 basis points. The yield on the average securities portfolio was 3.03%, down 13 basis points.

•Average deposits increased $14.1 billion, or 3.6%, average short-term borrowings decreased $8.2 billion, or 31%, and average long-term debt increased $3.7 billion, or 8.9%.

•The average cost of total deposits was 1.59%, down 25 basis points. The average cost of short-term borrowings was 3.96%, down 46 basis points. The average cost of long-term debt was 4.73%, down 31 basis points.

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Noninterest Income
			Quarter Ended												Change
(Dollars in millions)			3Q26			2Q26			3Q25						Link Quarter									Like Quarter
Wealth management income			$	407		$	375		$	374					$	32		8.5		%				$	33		8.8		%
Card and treasury management fees			347			353			340						(6)			(1.7)						7			2.1
Investment banking and trading income			324			352			323						(28)			(8.0)						1			0.3
Other deposit revenue			125			120			125						5			4.2						-			-
Mortgage banking income			113			116			118						(3)			(2.6)						(5)			(4.2)
Lending related fees			120			120			103						-			-						17			16.5
Securities gains (losses)			(1,447)			-			-						(1,447)			NM						(1,447)			NM
Other income			95			208			175						(113)			(54.3)						(80)			(45.7)
Total noninterest income			$	84		$	1,644		$	1,558					$	(1,560)		(94.9)						$	(1,474)		(94.6)
Securities losses			1,447			-			-
Loss on RAC loan sale			66			-			-
Adjusted noninterest income(1)			$	1,597		$	1,644		$	1,558					$	(47)		(2.9)		%				$	39		2.5		%

(1)Adjusted noninterest income is a non-GAAP measure that excludes selected items. Truist's management uses this measure in its analysis of Truist's performance. Truist's management believes this measure provides a greater understanding of ongoing operations and enhances comparability of results with prior periods.

Noninterest income was down $1.6 billion compared to the second quarter of 2026, and down $1.5 billion compared to the third quarter of 2025. The third quarter of 2026 included losses from AFS securities sales of $1.4 billion and losses associated with the RAC loan sale of $66 million (other income). For both periods:

•Wealth management income increased primarily reflecting favorable market performance.

•Other income decreased primarily due to the losses associated with the RAC loan sale and lower returns from investments held for post-retirement benefits (which were offset by lower personnel expense).

Investment banking and trading income decreased compared to the second quarter of 2026, primarily due to lower trading income.

Noninterest Expense
			Quarter Ended												Change
(Dollars in millions)			3Q26			2Q26			3Q25						Link Quarter									Like Quarter
Personnel expense			$	1,853		$	1,792		$	1,748					$	61		3.4		%				$	105		6.0		%
Professional fees and outside processing			365			335			346						30			9.0						19			5.5
Software expense			254			239			233						15			6.3						21			9.0
Net occupancy expense			180			171			185						9			5.3						(5)			(2.7)
Equipment expense			77			79			90						(2)			(2.5)						(13)			(14.4)
Marketing and customer development			83			91			79						(8)			(8.8)						4			5.1
Amortization of intangibles			62			63			72						(1)			(1.6)						(10)			(13.9)
Regulatory costs			61			61			32						-			-						29			90.6
Other expense			170			224			229						(54)			(24.1)						(59)			(25.8)
Total noninterest expense			$	3,105		$	3,055		$	3,014					$	50		1.6						$	91		3.0
RAC loan sale cost			(40)			-			-
Adjusted noninterest expense(1)			$	3,065		$	3,055		$	3,014					$	10		0.3		%				$	51		1.7		%

(1)Adjusted noninterest expense is a non-GAAP measure that excludes selected items. Truist's management uses this measure in its analysis of Truist's performance. Truist's management believes this measure provides a greater understanding of ongoing operations and enhances comparability of results with prior periods.

Noninterest expense was up $50 million compared to the second quarter of 2026, and up $91 million compared to the third quarter of 2025. Noninterest expense was stable compared to the second quarter of 2026, excluding $40 million of RAC loan sale costs. For both periods:

•Personnel expense increased primarily due to higher employee benefit expenses, including costs associated with the RAC loan sale, partially offset by lower post-retirement benefit expense (which was offset by lower other income). Additionally, higher incentive expense related to revenue generating businesses contributed to the increase in personnel expense compared to the third quarter of 2025.

•Professional fees and outside processing expense increased primarily due to continued investment in technology infrastructure.

•Other expense decreased primarily driven by adjustments to non-fraud operating loss accruals.

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Provision for Income Taxes
			Quarter Ended												Change
(Dollars in millions)			3Q26			2Q26			3Q25						Link Quarter									Like Quarter
Provision for income taxes			$	96		$	262		$	285					$	(166)		(63.4)%						$	(189)		(66.3)%
Effective tax rate			10.7		%	14.4		%	16.4		%				(370) bps									(570) bps

The lower effective tax rate for the third quarter of 2026 compared to the second quarter of 2026 and the third quarter of 2025 was primarily driven by lower income before tax resulting from the AFS securities repositioning, which increased the relative benefit of tax credits and other tax-advantaged items on the effective tax rate.

Average Loans and Leases
(Dollars in millions)			3Q26						2Q26						Change						% Change
Commercial:
Commercial and industrial			$	165,989					$	168,817					$	(2,828)					(1.7)		%
CRE			25,493						24,938						555						2.2
Commercial construction			7,515						7,455						60						0.8
Total commercial			198,997						201,210						(2,213)						(1.1)
Consumer:
Residential mortgage			57,286						56,342						944						1.7
Home equity			9,663						9,656						7						0.1
Indirect auto			21,406						24,430						(3,024)						(12.4)
Other consumer			33,360						32,661						699						2.1
Total consumer			121,715						123,089						(1,374)						(1.1)
Credit card			4,811						4,863						(52)						(1.1)
Total loans and leases held for investment			$	325,523					$	329,162					$	(3,639)					(1.1)

Average loans and leases HFI were $325.5 billion, a decrease of $3.6 billion, or 1.1%, compared to the second quarter of 2026.

•Average commercial loans decreased 1.1% primarily due to a decrease in the commercial and industrial portfolio.

•Average consumer loans decreased 1.1% primarily due to a decline in the indirect auto portfolio which was impacted by the RAC loan sale, partially offset by an increase in the residential mortgage portfolio.

End of period loans and leases HFI were $323.9 billion, down $5.9 billion, or 1.8%, compared to June 30, 2026, primarily due to the RAC loan sale in the third quarter of 2026 and a decline in the commercial and industrial portfolio, partially offset by an increase in the residential mortgage portfolio.

Average Deposits
(Dollars in millions)			3Q26						2Q26						Change						% Change
Noninterest-bearing deposits			$	102,954					$	103,620					$	(666)					(0.6)		%
Interest checking			131,507						123,556						7,951						6.4
Money market and savings			137,166						136,423						743						0.5
Time deposits			39,072						41,270						(2,198)						(5.3)
Total deposits			$	410,699					$	404,869					$	5,830					1.4

Average deposits for the third quarter of 2026 were $410.7 billion, up $5.8 billion, or 1.4%, compared to the second quarter of 2026, driven by an increase in interest checking. Average noninterest-bearing deposits decreased 0.6% compared to the second quarter of 2026 and represented 25.1% of total deposits for the third quarter of 2026 and 25.6% for the second quarter of 2026.

End of period deposits were $413.2 billion, up $3.9 billion, or 0.9%, compared to June 30, 2026, primarily due to an increase in interest checking deposits, partially offset by a decline in time deposits and noninterest-bearing deposits.

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Capital Ratios
			3Q26						2Q26						1Q26						4Q25						3Q25
Risk-based:			(preliminary)
CET1			10.7		%				10.9		%				10.8		%				10.8		%				11.0		%
Tier 1			12.0						12.2						11.9						11.9						12.3
Total			13.6						14.0						13.7						13.8						14.2
Leverage			9.6						9.8						9.9						10.0						10.2
Supplementary leverage			8.0						8.2						8.3						8.3						8.5

Capital ratios remain strong relative to the regulatory requirements for well-capitalized banks. Truist's CET1 ratio was 10.7% as of September 30, 2026, down 20 basis points compared to June 30, 2026, primarily due to capital returned to shareholders and the repositioning of the AFS securities portfolio, partially offset by current quarter earnings and benefits from the RAC loan sale.

Truist declared common dividends of $0.52 per share during the third quarter of 2026 and repurchased $1.2 billion of common stock.

Truist's average consolidated LCR was 110% for the three months ended September 30, 2026, compared to the regulatory minimum of 100%.

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Asset Quality
(Dollars in millions)			3Q26						2Q26						1Q26						4Q25						3Q25
Total nonperforming assets			$	1,338					$	1,748					$	1,785					$	1,633					$	1,629
Total loans 90 days or more past due and still accruing			703						698						760						684						584
Total loans 30-89 days past due and still accruing			1,512						1,774						1,743						1,980						1,743
Nonperforming loans and leases as a percentage of loans and leases HFI			0.40		%				0.51		%				0.50		%				0.48		%				0.48		%
Loans 90 days or more past due and still accruing as a percentage of loans and leases HFI			0.22						0.21						0.23						0.21						0.18
Loans 90 days or more past due and still accruing as a percentage of loans and leases HFI, excluding government guaranteed loans			0.04						0.04						0.05						0.05						0.05
Loans 30-89 days past due and still accruing as a percentage of loans and leases HFI			0.47						0.54						0.53						0.60						0.54
ALLL as a percentage of loans and leases HFI			1.25						1.51						1.53						1.53						1.54
Ratio of ALLL to NCO (annualized)(1)			1.6x						3.0x						2.5x						2.7x						3.3x
Ratio of ALLL to nonperforming loans and leases HFI			3.1x						2.9x						3.1x						3.2x						3.2x

(1)Includes $251 million of net charge-offs upon the transfer of RAC loans to LHFS in the third quarter of 2026. Additionally includes $66 million of net charge-offs prior to their transfer to LHFS, for the three months ended September 30, 2026.

Nonperforming assets totaled $1.3 billion at September 30, 2026, down $410 million compared to June 30, 2026, primarily due to the RAC loan sale, partially offset by an increase in the commercial and industrial portfolio. Nonperforming loans and leases were 0.40% of loans and leases HFI at September 30, 2026, down eleven basis points compared to June 30, 2026.

The ACL was $4.4 billion at September 30, 2026, and included $4.1 billion for the ALLL and $370 million for the reserve for unfunded commitments. The ALLL ratio at September 30, 2026 was 1.25%, down 26 basis points compared with June 30, 2026 driven by a reserve recapture related to the RAC loan sale.

Provision for Credit Losses
			Quarter Ended												Change
(Dollars in millions)			3Q26			2Q26			3Q25						Link Quarter									Like Quarter
Provision (benefit) for credit losses(1)			$	(253)		$	395		$	436					$	(648)		(164.1)		%				$	(689)		(158.0)		%
Net charge-offs(2)			629			414			385						215			51.9						244			63.4
Net charge-offs as a percentage of average loans and leases (annualized)			0.77		%	0.50		%	0.48		%				27 bps									29 bps

(1)Includes benefit of $581 million for the three months ended September 30, 2026 from the release of ACL following the recognition of held for sale-related charge-offs resulting from the RAC loan sale.

(2)Includes $251 million of net charge-offs upon the transfer of RAC loans to LHFS in the third quarter of 2026. Additionally includes $66 million of net charge-offs prior to their transfer to LHFS, for the three months ended September 30, 2026.

The benefit for credit losses was $253 million for the third quarter of 2026, compared with provisions for credit losses of $395 million in the second quarter of 2026 and $436 million for the third quarter of 2025. The third quarter of 2026 reflects the benefit from the release of remaining ACL upon the transfer of RAC loans to loans held for sale.

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Earnings Presentation and Quarterly Performance Summary

Investors can access the live third quarter 2026 earnings call at 8 a.m. ET today by webcast or dial-in as follows:

Webcast: app.webinar.net/BAM6O91OpkL

Dial-in: 1-877-883-0383, passcode 2090022

Additional details: The news release and presentation materials are available at ir.truist.com under "Events & Presentations." A replay of the call will be available on the website for 30 days.

The presentation, including an appendix reconciling non-GAAP disclosures, and Truist's Third Quarter 2026 Quarterly Performance Summary, which contains detailed financial schedules, are available at https://ir.truist.com/earnings.

About Truist

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 wholesale and consumer businesses, including consumer and small business banking, commercial and corporate banking, investment banking and capital markets, wealth management, payments, and specialized lending businesses. Truist is a top-10 commercial bank with total assets of $554 billion as of September 30, 2026. Truist Bank, Member FDIC. Equal Housing Lender. Learn more at Truist.com.

#-#-#

Glossary of Defined Terms
Term			Definition
ACL			Allowance for credit losses
AFS			Available-for-sale
AI			Artificial intelligence, including machine learning
ALLL			Allowance for loan and lease losses
ATM			Automated teller machine
BVPS			Book value (common equity) per share
CEO			Chief Executive Officer
CET1			Common equity tier 1
CRE			Commercial real estate
EPS			Earnings per common share
FDIC			Federal Deposit Insurance Corporation
FHLB			Federal Home Loan Bank
GAAP			Accounting principles generally accepted in the United States of America
GSE			U.S. government-sponsored enterprise
HFI			Held for investment
HTM			Held-to-maturity
LCR			Liquidity Coverage Ratio
LHFS			Loans held for sale
Like Quarter			Third quarter of 2025
Link Quarter			Second quarter of 2026
MBS			Mortgage-backed securities
MSR			Mortgage servicing rights
NCO			Net charge-offs
NIM - TE			Net interest margin, computed on a TE basis
NM			Not meaningful
NQDCP			Non-Qualified Defined Contribution Plan
PPNR			Pre-provision net revenue
ROA			Return on average assets
ROCE			Return on average common equity
ROTCE			Return on average tangible common equity
TBVPS			Tangible book value per common share
TE			Taxable equivalent

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Non-GAAP Financial Information

This news release contains financial information and performance measures determined by methods other than in accordance with GAAP. Truist's management uses these "non-GAAP" measures in its analysis of Truist'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. Truist believes a meaningful analysis of its financial performance requires an understanding of the factors underlying that performance. 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 news release:

•Adjusted net income available to common shareholders and adjusted diluted EPS - Adjusted net income available to common shareholders and adjusted diluted EPS are non-GAAP in that these measures exclude selected items, net of tax. Truist's management uses these measures in its analysis of Truist's performance. Truist's management believes these measures provide a greater understanding of ongoing operations and enhance comparability of results with prior periods, as well as demonstrate the effects of significant gains and charges. Diluted EPS impact for individual items may not foot to difference between GAAP diluted and adjusted diluted EPS due to rounding.

•Taxable-Equivalent Measures - Taxable-equivalent revenue, taxable-equivalent interest income, taxable-equivalent net interest income, and taxable-equivalent net interest margin include a taxable-equivalent adjustment utilizing the federal income tax rate of 21% for certain tax-exempt instruments. Truist's management uses these measures in its analysis of Truist's performance. Truist's management believes these measures provide a greater understanding of ongoing operations and enhance comparability of results with prior periods.

•Adjusted revenue - Adjusted revenue includes a taxable-equivalent adjustment utilizing the federal income tax rate of 21% for certain tax-exempt instruments. Adjusted revenue additionally excludes selected items. Truist's management uses this measure in its analysis of Truist's performance. Truist's management believes this measure provides a greater understanding of ongoing operations and enhances comparability of results with prior periods.

•Adjusted noninterest income and expense - Adjusted noninterest income and expense are non-GAAP measures that exclude selected items. Truist's management uses these measures in its analysis of Truist's performance. Truist's management believes these measures provide a greater understanding of ongoing operations and enhance comparability of results with prior periods.

•PPNR - PPNR is a non-GAAP measure that adjusts net income determined in accordance with GAAP to exclude the impact of the provision for credit losses and provision for income taxes and includes a taxable-equivalent adjustment utilizing the federal income tax rate of 21% for certain tax-exempt instruments. Adjusted PPNR is a non-GAAP measure that additionally excludes selected items. Truist's management believes these measures provide a greater understanding of ongoing operations and enhance comparability of results with prior periods.

•Tangible Common Equity and Related Measures - Tangible common equity, average tangible common equity, and related measures, including ROTCE, adjusted ROTCE, and TBVPS, are non-GAAP measures that exclude the impact of intangible assets, net of deferred taxes, and its related amortization. Adjusted ROTCE is a non-GAAP measure that additionally excludes other selected items. 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.

Truist does not provide reconciliations for forward-looking non-GAAP financial measures because it is unable to provide a meaningful or accurate calculation or estimation of reconciling items and the information is not available without unreasonable effort. This is due to the difficulty of forecasting the occurrence and the financial impact of various items that have not yet occurred, are out of Truist's control, or cannot be reasonably predicted. For the same reasons, Truist is unable to address the probable significance of the unavailable information.

Reconciliations of these non-GAAP measures to the most directly comparable GAAP measures are included in this release or Truist's Third Quarter 2026 Quarterly Performance Summary, which is available at https://ir.truist.com/earnings.

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