Risk Factors Update Summary

• The Company's hedging strategies may not successfully mitigate interest rate, foreign exchange, and market risks, impacting profitability and financial condition.
• Addition of personal information to data risk factors. This change might result in increased data privacy risks.
• Increased competition for deposits due to FRB actions could elevate funding costs significantly.
• Inclusion of specific risks related to data breaches, data loss, and data integrity.
• Cybersecurity risks, including insider threats and third-party incidents, could lead to operational disruptions and financial exposure.
• Increased focus on cybersecurity compliance risks, including data privacy and protection.
• Market volatility in interest rates could adversely affect net interest income and funding costs.
• Mention of potential reputational risks due to cyberattacks and data misuse.
• Changes in monetary and fiscal policies, including FRB policies, may impact Truist's business operations and financial results.
• Disclosure of the impact of climate change on operations and financial results.
• Truist faces substantial legal and operational risks in safeguarding personal and sensitive information.
• Highlighting the risks associated with fraud attacks across the banking sector.
• Truist's ability to attract, develop, and retain qualified teammates is crucial for effective business operations.
• Emphasis on the risks related to regulatory compliance, including laws, rules, and regulations.