fhn4q21earningsslidesvf

Fourth Quarter 2021 Earnings January 20, 2022

2 Disclaimer Non-GAAP Information Certain measures included in this document are “non-GAAP,” meaning they are not presented in accordance with generally accepted accounting principles in the U.S. and also are not codified in U.S. banking regulations currently applicable to FHN. FHN’s management believes such measures, even though not always comparable to non-GAAP measures used by other financial institutions, are relevant to understanding the financial condition, capital position, and financial results of FHN and its business segments. The non-GAAP measures presented in this document are listed, and are reconciled to the most comparable GAAP presentation, in the non-GAAP reconciliation table(s) appearing in the Appendix. In addition, presentation of regulatory measures, even those which are not GAAP, provide a meaningful base for comparability to other financial institutions subject to the same regulations as FHN. Although not GAAP terms, these regulatory measures are not considered “non-GAAP” under U.S. financial reporting rules as long as their presentation conforms to regulatory standards. Regulatory measures used in this document include: common equity tier 1 capital, generally defined as common equity less goodwill, other intangibles, and certain other required regulatory deductions; tier 1 capital, generally defined as the sum of core capital (including common equity and instruments that cannot be redeemed at the option of the holder) adjusted for certain items under risk based capital regulations; and risk-weighted assets, which is a measure of total on- and off-balance sheet assets adjusted for credit and market risk, used to determine regulatory capital ratios. Forward-Looking Statements This document contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). Forward-looking statements pertain to FHN's beliefs, plans, goals, expectations, and estimates. Forward-looking statements are not a representation of historical information, but instead pertain to future operations, strategies, financial results, or other developments. Forward- looking statements can be identified by the words “believe,” “expect,” “anticipate,” “intend,” “estimate,” “should,” “is likely,” “will,” “going forward,” and other expressions that indicate future events and trends. Forward-looking statements are necessarily based upon estimates and assumptions that are inherently subject to significant business, operational, economic, and competitive uncertainties and contingencies, many of which are beyond FHN’s control, and many of which, with respect to future business decisions and actions (including acquisitions and divestitures), are subject to change and could cause FHN’s actual future results and outcomes to differ materially from those contemplated or implied by forward-looking statements or historical performance. Examples of uncertainties and contingencies include those mentioned: in this document; in Items 2.02 and 7.01 of FHN’s Current Report on Form 8-K to which this document has been filed as an exhibit; in the forepart, and in Items 1, 1A, and 7, of FHN’s most recent Annual Report on Form 10-K; and in the forepart, and in Item 1A of Part II, of FHN’s Quarterly Report(s) on Form 10-Q filed this year. FHN assumes no obligation to update or revise any forward-looking statements that are made in this document or in any other statement, release, report, or filing from time to time. Throughout this presentation, numbers may not foot due to rounding, references to EPS are fully diluted, 4Q21 capital ratios are estimates, and unless otherwise noted, references to loans reflect average balances and include leases.

3 4Q21 and 2021 GAAP financial summary1 1Adjusted financial measures, core NII, core NIM, TBV per share, ROTCE, ROTCE before provision credit, fully taxable equivalent measures, PPNR, and loans and leases, ACL and ratios excluding Loans to Mortgage Companies and/or loans under the federal PPP are Non-GAAP and are reconciled to GAAP measures in the appendix. Throughout this presentation, references to EPS are fully diluted, 4Q21 capital ratios are estimates, and unless otherwise noted, references to loans reflect average balances and include leases. Throughout this presentation references to NII, Total Revenue, Net Interest Margin and PPNR are presented on a fully taxable equivalent basis unless otherwise noted. Reported 4Q21 Change vs. Reported 2021 vs. 2020 $s in millions except per share data 4Q21 3Q21 2Q21 1Q21 4Q20 3Q21 4Q20 2021 2020 $/bps % $/bps % $/bps % Net interest income $ 498 $ 492 $ 497 $ 508 $ 522 $ 6 1 % $ (24) (5) % $ 1,994 $ 1,662 $ 332 20 % Fee income 247 247 285 298 288 — — % (41) (14) % 1,076 1,492 (416) (28) % Total revenue 745 738 781 806 810 7 1 % (65) (8) % 3,070 3,155 (85) (3) % Expense 528 526 497 544 508 2 — % 20 4 % 2,095 1,718 377 22 % Pre-provision net revenue (PPNR) 217 213 284 262 302 4 2 % (85) (28) % 975 1,436 (461) (32) % Provision for credit losses (65) (85) (115) (45) 1 20 24 % (66) NM (310) 503 (813) NM Pre-tax income 282 298 399 307 301 (16) (5) % (19) (6) % 1,285 933 352 38 % Income tax expense 53 63 88 71 56 (10) (16) % (3) (6) % 274 76 198 NM Net income 229 235 311 235 245 (6) (3) % (16) (6) % 1,010 857 153 18 % Non-controlling interest 3 3 3 3 3 — — % — 6 % 11 12 (1) (8) % Preferred dividends 8 8 13 8 8 — — % — 5 % 37 23 14 61 % Net income available to common shareholders (NIAC) $ 219 $ 224 $ 295 $ 225 $ 234 $ (5) (2) % $ (15) (7) % 962 822 140 17 % $s in billions Avg loans $ 54.7 $ 55.5 $ 56.8 $ 58.2 $ 59.8 $ (0.8) (1) % $ (5.1) (9) % $ 56.3 $ 46.2 $ 10.1 22 % Period-end loans $ 54.9 $ 55.4 $ 56.7 $ 58.6 $ 58.2 $ (0.6) (1) % $ (3.4) (6) % $ 54.9 $ 58.2 $ (3.4) (6) % Avg deposits $ 74.6 $ 73.7 $ 73.2 $ 71.0 $ 69.6 $ 0.9 1 % $ 5.0 7 % $ 73.1 $ 51.9 $ 21.3 41 % Period-end deposits $ 74.9 $ 74.3 $ 73.3 $ 73.2 $ 70.0 $ 0.6 1 % $ 4.9 7 % $ 74.9 $ 70.0 $ 4.9 7 % Key performance metrics Net interest margin (NIM) 2.42 % 2.41 % 2.47 % 2.62 % 2.72 % 1 bps (30) bps 2.48 % 2.86 % (38) bps Loan to deposit ratio (avg.) 73.3 % 75.3 % 77.7 % 82.0 % 85.9 % (199) bps (1,261) bps 77.0 % 89.0 % (1,204) bps ROCE 11.3 % 11.4 % 15.5 % 12.0 % 12.5 % (17) bps (127) bps 12.5 % 13.7 % (113) bps ROTCE 14.7 % 15.0 % 20.4 % 15.9 % 16.7 % (23) bps (201) bps 16.5 % 19.0 % (257) bps ROA 1.0 % 1.1 % 1.4 % 1.1 % 1.2 % (3) bps (14) bps 1.2 % 1.3 % (18) bps Efficiency ratio 70.9 % 71.2 % 63.7 % 67.5 % 62.7 % (33) bps 817 bps 68.3 % 54.5 % 1,378 bps FTEs 7,863 7,982 8,145 8,284 8,466 (119) (1) % (603) (7) % 8,067 6,649 1,418 21 % CET1 ratio 9.9 % 10.1 % 10.3 % 10.0 % 9.7 % (15) bps 26 bps 9.9 % 9.7 % 26 bps Effective tax rate 18.6 % 21.1 % 22.0 % 23.2 % 18.7 % (250) bps (7) bps 21.4 % 8.2 % 1,321 bps Per common share Diluted EPS $ 0.40 $ 0.41 $ 0.53 $ 0.40 $ 0.42 $ — (1) % $ (0.02) (4) % $ 1.74 $ 1.89 $ (0.15) (8) % Tangible book value per share $ 11.00 $ 10.88 $ 10.74 $ 10.30 $ 10.23 $ 0.12 1 % $ 0.77 8 % $ 11.00 $ 10.23 $ 0.77 8 % Avg. diluted shares outstanding 542 550 556 557 556 (8) (1) % (14) (3) % 551 434 117 27 %

4 Table of contents 4Q21 key messages . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 4Q21 overview . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 4Q21 notable items . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 4Q21 adjusted financial highlights . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 NII and NIM . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 Adjusted fee income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 Adjusted expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 Total loans . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12 Total funding . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 Asset quality . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 Capital . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15 Merger integration update . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16 FY22 outlook . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17 1Q22 outlook . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18 Key takeaways . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19 Appendix . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20

5 Well positioned to benefit given economic recovery and outlook for rates Reflects 4Q21 vs. 3Q21 results. 1Adjusted financial measures, core NII, core NIM, TBV per share, ROTCE, ROTCE before provision credit, fully taxable equivalent measures, PPNR, and loans and leases, ACL and ratios excluding Loans to Mortgage Companies and/or loans under the federal PPP are Non-GAAP and are reconciled to GAAP measures in the appendix. Throughout this presentation, references to EPS are fully diluted, 4Q21 capital ratios are estimates, and unless otherwise noted, references to loans reflect average balances and include leases. Throughout this presentation references to NII, Total Revenue, Net Interest Margin and PPNR are presented on a fully taxable equivalent basis unless otherwise noted. +3% Core Net Interest Income -9% Incentives and Commissions -6 bps Interest-Bearing Deposit Costs +16% Asset Sensitive to +100 bp shock scenario $225 million Total Capital Return 1 bp Net Charge-Offs ~$45 million MOE Revenue Synergies -8% Adjusted Noninterest Income Adjusted EPS1 $0.48 Adjusted ROTCE 17.5% TBV $11.00 +8% Commercial Unfunded Commitments +2% Commercial Loans ex. PPP -1% Adjusted Expense -24% Adjusted Provision Credit

6 4Q21 results reflect improving NII, credit quality and capital returns Benefits of Diversified Model Enhanced Returns Strong Credit Quality MOE Update • Adjusted revenue of $748 million decreased 2% QoQ – NII up $7 million QoQ despite a $5 million reduction in net merger-related and PPP benefits – Core NII up 3% driven by the benefit of lower funding costs ▪ Average commercial loan growth of 2% ex. PPP – Fee income down 8% largely reflecting expected declines in fixed income and mortgage banking • Adjusted expense of $474 million down $6 million QoQ despite a $3 million impact tied to bonuses to front-line associates • Provision credit of $65 million largely reflecting stabilizing economic outlook and overall credit quality improvement • Adjusted ROTCE of 17.5%; Adjusted ROTCE of 14.0% before the impact of provision credit • TBVPS of $11.00 up 1% QoQ as net income was partially offset by $0.24 impact of capital return • Returned $225 million of capital to common shareholders including 9 million shares repurchased • Credit remains exceptionally strong with net charge-offs of 1 bp and NPLs of 50 bps • ACL/NPL coverage of 2.67x; ACL/Loans ratio of 1.48% excl. LMC/PPP loans • System integration set for conversion in February of 2022 – Expect to deliver ~$200 million of targeted annualized net cost saves by 4Q22 – Achieved $104 million of annualized net cost saves in 4Q21 • Committed to continuous improvement in productivity and efficiency beyond the integration 1Adjusted financial measures, core NII, core NIM, TBV per share, ROTCE, ROTCE before provision credit, fully taxable equivalent measures, PPNR, and loans and leases, ACL and ratios excluding Loans to Mortgage Companies and/or loans under the federal PPP are Non-GAAP and are reconciled to GAAP measures in the appendix. Throughout this presentation, references to EPS are fully diluted, 4Q21 capital ratios are estimates, and unless otherwise noted, references to loans reflect average balances and include leases. Throughout this presentation references to NII, Total Revenue, Net Interest Margin and PPNR are presented on a fully taxable equivalent basis unless otherwise noted. Adjusted EPS of $0.48 and PPNR of $274 million1

7 4Q21 notable items1 1Adjusted financial measures, core NII, core NIM, TBV per share, ROTCE, ROTCE before provision credit, fully taxable equivalent measures, PPNR, and loans and leases, ACL and ratios excluding Loans to Mortgage Companies and/or loans under the federal PPP are Non-GAAP and are reconciled to GAAP measures in the appendix. Throughout this presentation, references to EPS are fully diluted, 4Q21 capital ratios are estimates, and unless otherwise noted, references to loans reflect average balances and include leases. Throughout this presentation references to NII, Total Revenue, Net Interest Margin and PPNR are presented on a fully taxable equivalent basis unless otherwise noted. 2Includes pre-closing expenses incurred by IBKC. 4Q21 Total IBKC merger-related notable items Noninterest income: Branch sale gain (other noninterest income) $ (4) Total noninterest income (4) Noninterest expense: Incentives and commissions (9) Total personnel expenses (9) Outside services (15) Amortization of intangible assets (1) Other noninterest expense (13) Total noninterest expense (38) 4Q21 Total IBKC net merger-related notable items $ 35 4Q21 Other notable items Noninterest income: Retirement of legacy IBKC TruPS $ 3 Total noninterest income 3 Noninterest expense: Deferred compensation expense (6) Valuation adjustments tied to prior Visa Class-B share sales (10) Total noninterest expense (16) 4Q21 Total other notable items (19) 4Q21 Total notable items (54) Tax impact of 4Q21 notable items 13 After-tax impact of 4Q21 notable items $ (41) EPS impact of 4Q21 notable items $ (0.08) IBKC Cumulative Net Pre-tax Integration Costs Cost to Date Targeted 4Q19 - 3Q212 Purchase Acct. 4Q21 Total 1Q22 2Q22 - 4Q22 Total $ 325 $ 100 $ 35 $ 460 $35 - $40 $25 - $30 $520 - $530 Notable Items ($s in millions, except per share data) GAAP results reduced by $41 million after-tax, or $0.08 per share, of notable items • 4Q21 pre-tax merger-related expense of $38 million • Merger-related noninterest income reflects $4 million of net branch sale gains • Other notable items reflect – $3 million pre-tax non-cash charge on retirement of legacy IBKC Trust Preferred Securities (TruPS) – $6 million deferred compensation costs resulting from litigation tied to a company that was fully divested more than 10 years ago – $10 million tied to derivative valuation adjustments related to prior Visa Class-B share sales Notable Items

8 • Adjusted EPS of $0.48 vs. $0.50; includes a $0.03 per share reduction tied to lower provision credit – Adjusted ROTCE of 17.5% and TBV per share of $11.00 • NII up $7 million – Core NII up $12 million driven by the benefit of lower funding costs, higher LHFS and trading portfolio balances, higher investment portfolio income and commercial loan growth • Adjusted fee income down 8% largely reflecting expected declines in fixed income, mortgage banking and NSF fees • Adjusted expense of $474 million down $6 million despite a $3 million impact tied to bonuses to front-line associates – Results largely reflect lower revenue-based incentives and commissions • Provision credit of $65 million vs. $85 million in 3Q21 largely reflecting stabilizing economic outlook and overall credit quality improvement 4Q21 adjusted financial highlights1 Adjusted FHN 4Q21 Change vs. $s in millions except per share data 4Q21 3Q21 4Q20 3Q21 4Q20 $/bps % $/bps % Net Interest Income (FTE) $ 502 $ 495 $ 525 $ 7 1 % $ (23) (4) % Fee income 246 268 288 (22) (8) % (42) (14) % Total revenue (FTE) 748 763 813 (15) (2) % (65) (8) % Expense 474 480 474 (6) (1) % — — % Pre-provision net revenue 274 284 339 (10) (4) % (65) (19) % Provision for credit losses (65) (85) 1 20 24 % (66) NM Net charge-offs 1 3 29 (2) (67) % (28) (97) % Reserve build/(release) (66) (88) (28) 22 25 % (38) (137) % Net income available to common $ 260 $ 275 $ 255 $ (15) (5) % $ 6 2 % Key performance Metrics Fee income as a % of total revenue 33.0 % 35.1 % 35.4 % (219) bps (247) bps Efficiency ratio 63.3 % 62.9 % 58.3 % 44 bps 497 bps ROTCE 17.5 % 18.4 % 18.2 % (85) bps (67) bps Diluted EPS $ 0.48 $ 0.50 $ 0.46 $ (0.02) (4) % $ 0.02 4 % TBV per share $ 11.00 $ 10.88 $ 10.23 $ 0.12 1 % $ 0.77 8 % Effective tax rate 19.5 % 21.8 % 20.7 % (230) bps (124) bps NII and PPNR outperformance reflects impact of lower funding costs 1Adjusted financial measures, core NII, core NIM, TBV per share, ROTCE, ROTCE before provision credit, fully taxable equivalent measures, PPNR, and loans and leases, ACL and ratios excluding Loans to Mortgage Companies and/or loans under the federal PPP are Non-GAAP and are reconciled to GAAP measures in the appendix. Throughout this presentation, references to EPS are fully diluted, 4Q21 capital ratios are estimates, and unless otherwise noted, references to loans reflect average balances and include leases. Throughout this presentation references to NII, Total Revenue, Net Interest Margin and PPNR are presented on a fully taxable equivalent basis unless otherwise noted. 4Q21 vs. 3Q21 Highlights

9 NII outperformance driven by lower deposit costs1 $525 $511 $500 $495 $502 $482 $464 $450 $454 $466 2.72% 2.62% 2.47% 2.41% 2.42% Core NII Reported NII Reported NIM 4Q20 1Q21 2Q21 3Q21 4Q21 ($s in millions) FTE NII and NIM Trends Core NIM 2.63% 2.52% 2.36% 2.28% 2.28% 1Adjusted financial measures, core NII, core NIM, TBV per share, ROTCE, ROTCE before provision credit, fully taxable equivalent measures, PPNR, and loans and leases, ACL and ratios excluding Loans to Mortgage Companies and/or loans under the federal PPP are Non-GAAP and are reconciled to GAAP measures in the appendix. Throughout this presentation, references to EPS are fully diluted, 4Q21 capital ratios are estimates, and unless otherwise noted, references to loans reflect average balances and include leases. Throughout this presentation references to NII, Total Revenue, Net Interest Margin and PPNR are presented on a fully taxable equivalent basis unless otherwise noted. 2Other earning assets defined as changes in loans held for sale balances, trading portfolio size and fed funds/repo book • FTE NII up 1% and NIM up 1 bp despite a $5 million reduction in net merger-related and PPP benefits • Core NII of $466 million up $12 million, or 3% – Benefit of lower funding costs, higher LHFS and trading portfolio balances, and higher investment portfolio income more than offset the net impact of loan growth and tighter spreads – Securities portfolio stable QoQ at 11% of period-end interest-earning assets • Core NIM stable at 2.28% – Benefit of lower funding costs offset impact of tighter loan and investment portfolio spreads – Period-end excess cash of $14.1 billion vs. $14.0 billion in 3Q21 • Deposit costs reduction provided 4 bps benefit to NIM 4Q21 vs. 3Q21 $s in millions NII NIM 3Q21 Reported 495 2.41 % PPP Coupon Income and Fees 32 0.07 % Net merger-related impacts 9 0.05 % 3Q21 Core $ 454 2.28 % Funding costs 8 0.04 Other earning assets2 4 — Investment portfolio 3 (0.01) Loan balances & spread impact (3) (0.03) 4Q21 Core $ 466 2.28 % PPP Coupon Income and Fees 30 0.10 % Net merger-related impacts 6 0.03 % 4Q21 Reported $ 502 2.42 % Continued deposit pricing discipline, securities portfolio investments and commercial loan growth ex. PPP drove solid growth in core NII 4Q21 vs. 3Q21 Highlights

10 • Adjusted fee income decreased $22 million, or 8%, largely reflecting expected declines in fixed income and mortgage including the impact of seasonality as well as the impact of pricing changes in service charges and fees • Fixed income decreased $14 million – ADR of $1.1 million remained healthy; full year of $1.4 million • Service charges and fees stable despite a $1 million impact tied to NSF pricing changes • Mortgage banking and title decreased $6 million as the impact of lower origination volume and mix shift toward portfolio was partially offset by the benefit of higher gain on sale margins • Card and digital banking fees decreased $2 million largely as a $4 million decrease tied to a revenue-sharing adjustment more than offset the benefit of seasonally higher transaction volumes • Other noninterest income up $4 million largely reflecting the impact of higher SBA servicing income Adjusted fee income trends in line with expectations1 1Adjusted financial measures, core NII, core NIM, TBV per share, ROTCE, ROTCE before provision credit, fully taxable equivalent measures, PPNR, and loans and leases, ACL and ratios excluding Loans to Mortgage Companies and/or loans under the federal PPP are Non-GAAP and are reconciled to GAAP measures in the appendix. Throughout this presentation, references to EPS are fully diluted, 4Q21 capital ratios are estimates, and unless otherwise noted, references to loans reflect average balances and include leases. Throughout this presentation references to NII, Total Revenue, Net Interest Margin and PPNR are presented on a fully taxable equivalent basis unless otherwise noted. Adjusted FHN 4Q21 Change vs. $s in millions 4Q21 3Q21 2Q21 1Q21 4Q20 3Q21 4Q20 $/bps % $/bps % Fixed income $ 82 $ 96 $ 102 $ 126 $ 104 $(14) (15) % $(22) (21) % Service charges and fees 56 56 54 53 53 — — % 3 6 % Mortgage banking & title 28 34 38 53 57 (6) (18) % (29) (51) % Brokerage, trust, and insurance 36 37 35 33 31 (1) (3) % 5 14 % Card and digital banking fees 19 21 21 17 18 (2) (10) % 1 3 % Deferred compensation income — 3 7 3 9 (3) (100) % (9) (100) % Other noninterest income 25 21 29 14 15 4 19 % 10 68 % Total fee income $ 246 $ 268 $ 287 $ 297 $ 288 $(22) (8) % $(42) (14) % Key Metrics Fixed Income Average Daily Revenue (ADR) $ 1.1 $ 1.3 $ 1.4 $ 1.9 $ 1.5 $ (0.2) (15) % $ (0.4) (25) % Mortgage banking Originations Secondary $ 706 $ 772 $ 998 $ 1,144 $ 1,183 $ (66) (9) % $ (477) (40) % Portfolio $ 874 $ 829 $ 791 $ 338 $ 341 $ 45 5 % $ 533 156 % Total $ 1,580 $ 1,601 $ 1,789 $ 1,482 $ 1,524 $ (21) (1) % $ 56 4 % Gain on sale spread 2.98 % 2.91 % 3.19 % 3.72 % 4.08 % 7 bps (110) bps Mix Purchase 51 % 56 % 65 % 50 % 55 % Refinance 49 % 44 % 35 % 50 % 45 % Results largely reflect expected declines in fixed income, mortgage and NSF 4Q21 vs. 3Q21 Highlights

11 Adjusted expense largely impacted by lower revenue-based incentives 1Adjusted financial measures, core NII, core NIM, TBV per share, ROTCE, ROTCE before provision credit, fully taxable equivalent measures, PPNR, and loans and leases, ACL and ratios excluding Loans to Mortgage Companies and/or loans under the federal PPP are Non-GAAP and are reconciled to GAAP measures in the appendix. Throughout this presentation, references to EPS are fully diluted, 4Q21 capital ratios are estimates, and unless otherwise noted, references to loans reflect average balances and include leases. Throughout this presentation references to NII, Total Revenue, Net Interest Margin and PPNR are presented on a fully taxable equivalent basis unless otherwise noted. 2Occupancy and Equipment expense includes Computer Software Expense. Adjusted FHN 4Q21 Change vs. $s in millions 4Q21 3Q21 2Q21 1Q21 4Q20 3Q21 4Q20 $/bps % $/bps % Salaries and benefits $ 189 $ 191 $ 191 $ 195 $ 200 $ (2) (1) % $ (11) (6) % Incentives and commissions 84 92 93 99 89 (8) (9) % (5) (6) % Deferred compensation expense 1 4 6 3 9 (3) (75) % (8) (89) % Total personnel expense 274 286 290 297 298 (12) (4) % (24) (8) % Occupancy and equipment 73 74 75 72 74 (1) (1) % (1) (2) % Outside services 66 65 56 54 52 1 2 % 14 27 % Amortization of intangible assets 13 13 13 13 14 — — % (1) (5) % Other noninterest expense 46 42 31 28 35 4 10 % 11 32 % Total noninterest expense $ 474 $ 480 $ 465 $ 464 $ 474 $ (6) (1) % $ — — % Full-time equivalent associates 7,863 7,982 8,145 8,284 8,466 (119) (1) % (603) (7) % • Adjusted expense of $474 million decreased $6 million, or 1% – $1 million benefit tied to incremental merger cost saves • Personnel expense down $12 million – Salaries and benefits decreased $2 million as the benefit of merger saves and lower 401-k costs were partially offset by an increase in FICA taxes from unusually low 3Q levels – Incentives and commissions decreased $8 million largely as a reduction in revenue- based incentives was partially offset by a $3 million impact tied to bonuses to front- line associates • Outside services remained relatively stable, slight increase driven by branding initiatives tied to advertising in preparation for conversion • Other noninterest expense up $4 million as a $4 million increase largely tied to DDA product accruals, higher travel and entertainment expense and FDIC premium costs were partially offset by lower contribution costs and franchise taxes Lower revenue-based incentives partially offset by $3 million of front-line associate bonuses 2 4Q21 vs. 3Q21 Highlights

12 • Loans of $54.7 billion down $827 million driven by a $1.5 billion decrease in PPP loans – $654 million, or 1%, increase in loans before the impact of PPP largely reflecting a $740 million, or 2%, increase in commercial with relatively stable LMC and CRE balances – C&I loan growth ex. PPP & LMC up 3% • Period-end loans of $54.9 billion down $576 million driven by a $979 million decrease in PPP and a $622 million decrease in LMC – $1.0 billion, or 2%, increase in loans before the impact of PPP and LMC driven by a $1.2 billion, or 5%, increase in other C&I – Commercial loan growth ex. PPP & LMC up 3% driven by equipment finance, correspondent and franchise finance and in geographies such as Mid- Atlantic, Middle TN, and FL – Unfunded commitments increased 7% 1Adjusted financial measures, core NII, core NIM, TBV per share, ROTCE, ROTCE before provision credit, fully taxable equivalent measures, PPNR, and loans and leases, ACL and ratios excluding Loans to Mortgage Companies and/or loans under the federal PPP are Non-GAAP and are reconciled to GAAP measures in the appendix. Throughout this presentation, references to EPS are fully diluted, 4Q21 capital ratios are estimates, and unless otherwise noted, references to loans reflect average balances and include leases. Throughout this presentation references to NII, Total Revenue, Net Interest Margin and PPNR are presented on a fully taxable equivalent basis unless otherwise noted. 2Utilization rates exclude Loans to Mortgage Companies. Period-end commercial line utilization2 1Q21 2Q21 3Q21 4Q21 Utilization % 45% 45% 44% 42% $58.2B $55.4B $54.9B $58.2B $56.8B $55.5B $54.7B Commercial and Industrial (C&I) excl. LMC & PPP Commercial real estate (CRE) Consumer real estate Credit card and other Payroll Protection Program (PPP) Loans to mortgage companies (LMC) 4Q20 . . . . 3Q21 4Q21 1Q21 2Q21 3Q21 4Q21 Loan trends 44% 20% 2% 9% 41% 21% 22% 2% 7% 47% 22% 19% 2% 9% 4% 20% 8% 9% 40% 21% 19% 2% 2% 2% 43% 20% 22% 8% 5% 1Q21 2Q21 3Q21 4Q21 Yields 3.54% 3.52% 3.47% 3.45% Core yields 3.40% 3.35% 3.25% 3.20% Avg 1M LIBOR 0.12% 0.10% 0.09% 0.09% 42% 19% 22% 2% 8% 8% 8% Period-end Average Annualized loan growth of 5% before the impact of PPP1 45% 22% 20% 2% 3% 9% 4Q21 vs. 3Q21 Highlights Period-end C&I ex PPP & LMC up 5% QoQ

13 $70.0B $74.3B $74.9B $71.0B $73.2B $73.7B $74.6B Demand Deposit Accounts (DDA) Savings Time deposits Other interest-bearing deposits 4Q20 . . . . . 3Q21 4Q21 1Q21 2Q21 3Q21 4Q21 Deposit pricing discipline lifts net interest income in 4Q211 Interest-bearing liabilities & DDA trends 30% • Total deposits of $74.6 billion increased $875 million, or 1%, driven by $1.8 billion increase in DDA – Period-end deposits of $74.9 billion increased $630 million driven by a $535 million increase in DDA • Deposit costs improved to 7 bps reflecting active management of exception-priced deposits – 6 bps reduction in interest-bearing deposit costs to 11 bps • Total funding costs of 16 bps improved from 21 bps 37% 7% 26% 35% 35% 5% 25% 31% 36% 6% 26% 33% 35% 6% 26% 36% 34% 5% 26% 1Q21 2Q21 3Q21 4Q21 Deposit cost of funds 14 bps 13 bps 11 bps 7 bps Total cost of funds 24 bps 23 bps 21 bps 16 bps Avg 1M LIBOR 0.12% 0.10% 0.09% 0.09% 1Adjusted financial measures, core NII, core NIM, TBV per share, ROTCE, ROTCE before provision credit, fully taxable equivalent measures, PPNR, and loans and leases, ACL and ratios excluding Loans to Mortgage Companies and/or loans under the federal PPP are Non-GAAP and are reconciled to GAAP measures in the appendix. Throughout this presentation, references to EPS are fully diluted, 4Q21 capital ratios are estimates, and unless otherwise noted, references to loans reflect average balances and include leases. Throughout this presentation references to NII, Total Revenue, Net Interest Margin and PPNR are presented on a fully taxable equivalent basis unless otherwise noted. Interest-bearing deposit costs down 6 bps and improved deposit mix 34% 35% 5% 25% 35% 33% 4% 27% Period-end Average 4Q21 vs. 3Q21 Highlights

14 Strong credit quality performance 1Net charge-off % is annualized and as % of average loans. Provision, credit losses, and net charge-offs $1,048 $995 $890 $802 $736 1.80% 1.70% 1.57% 1.45% 1.34% 271% 253% 259% 231% 267% ACL ACL/Loans ACL/NPLs 4Q20 1Q21 2Q21 3Q21 4Q21 Allowance for credit losses (ACL) Non-performing loans (NPLs) $386 $394 $344 $347 $275 0.66% 0.67% 0.61% 0.63% 0.50% NPLs $ NPLs % 4Q20 1Q21 2Q21 3Q21 4Q21 • Net charge offs of 1 bp remained relatively stable • NPL ratio of 50 bps improved 13 bps • ACL coverage ratio of 1.34% vs. 1.45%; ACL coverage ex. LMC and PPP of 1.48% • ACL coverage of NPLs improved to 267% – Provision credit of $65 million compared with $85 million in 3Q21 largely reflects stabilizing economic outlook and overall credit quality improvement1 $29 $8 $(10) $3 $1$1 $(45) $(115) $(85) $(65) 0.19% 0.06% (0.07)% 0.02% 0.01% NCOs Provision for credit losses NCO% 4Q20 1Q21 2Q21 3Q21 4Q21 Stabilizing economic outlook and improving asset quality trends 4Q21 vs. 3Q21 Highlights

15 4Q20 1Q21 2Q21 3Q21 4Q21 CET1 ratio Tier 1 capital ratio Total capital ratio 4Q20 1Q21 2Q21 3Q21 4Q21 Strong capital position1 Capital levels 10.7% 12.6% 12.8% 11.0% 13.1% 11.4% 12.6% 11.2% 12.4% 11.1% Tangible book value per share 10.1% 0.41% (0.23)% (0.14)% (0.13)% (0.07)% (0.01)% 9.9% 3Q21 actual Adjusted NIAC Share Buybacks Loans/ unfunded commitments growth Common Dividend Notable Items Other 4Q21 estimate $10.88 $0.51 $(0.15) $(0.09) $(0.08) $(0.08) $11.00 3Q21 actual Adjusted NIAC, net of change in Intangibles Common Dividends Share Buybacks Notable Items AFS Securities MTM, Other 4Q21 actual • TBVPS of $11.00 increased 1% QoQ and reflects $0.24 reduction tied to return on capital • CET1 ratio remained strong at 9.9% – NIAC more than offset by a 36 bp reduction tied to return of capital and a 14 bp reduction tied to loan growth and higher unfunded commitments • Repurchased 9 million shares of common stock during the quarter 1Adjusted financial measures, core NII, core NIM, TBV per share, ROTCE, ROTCE before provision credit, fully taxable equivalent measures, PPNR, and loans and leases, ACL and ratios excluding Loans to Mortgage Companies and/or loans under the federal PPP are Non-GAAP and are reconciled to GAAP measures in the appendix. Throughout this presentation, references to EPS are fully diluted, 4Q21 capital ratios are estimates, and unless otherwise noted, references to loans reflect average balances and include leases. Throughout this presentation references to NII, Total Revenue, Net Interest Margin and PPNR are presented on a fully taxable equivalent basis unless otherwise noted. 4Q21 vs. 3Q21 CET1 ratio 9.7% 10.0% 10.3% 10.1% 9.9% 4Q21 vs. 3Q21 Highlights

16 Integration Framework • Continue to make substantial progress toward achieving key merger milestones • Focused on retaining and growing client base with expanded products and services 4Q21 Milestones • Associate retention remains in-line with expectations, including in leadership/critical positions ~92% • Continue to merge and enhance our culture via regular virtual/in person leadership workshops, culture calls, and team building sessions • Completed third mock conversion • Successful upgrades to online banking platforms • Completion of email migrations and rollout of new PCs for associates • Onboarding and training of additional call center support • Finalized client communications to be sent in 1Q22 • Launch of banker outreach efforts Upcoming Events • Conversion dress rehearsals • Finalize IVR and call center upgrades • Client communications begin in earnest, including microsite launch and banker outreach calling efforts • Continued training for all associates on new systems • Installation of First Horizon signage at all locations • Core systems conversion scheduled for February 2022 Merger integration update Pe op le Sy st em s/ O ps Integration Highlights Targeting annualized cost saves of ~$200 million by 4Q22 Achieved ~$26 million of savings in 4Q21 ~$45 million of identified annualized revenue synergies largely tied to commercial loans Additional synergies tied to debt capital markets, mortgage and private client/wealth In Period Savings Actual Estimated 1Q21- 3Q21 4Q21 2021 2022 ~$66mm ~$26mm ~$92mm ~$160mm Annualized Run-Rate Savings Actual Estimated 3Q21 4Q21 1Q22 4Q22 ~$96mm ~$104mm ~$108mm ~$200mm

17 FY2022 Outlook Earnings Drivers FY21 Adjusted Baseline FY22 Adjusted Expectations Comments Net Interest Income (FTE) $2,006 million Relatively stable Assumes ~$120 million reduction in accretion/ amortization and PPP benefits offset by the benefit of higher rates, loan growth and low deposit costs Avg. Interest Earning Assets $80.987 billion Up modestly with average loans down modestly Expect loan growth ex. PPP in the mid-single digit % range Noninterest Income $1,099 million Low teens % decline Expect further pressure in fixed income, mortgage banking and other partially offset by improvement in wealth, service charges and card fees Noninterest Expense $1,883 million Relatively stable Expect lower commissions and incentives and the benefit of merger saves to be largely offset by the impact of inflationary pressuresNoninterest Expense ex. Incentives & Commissions $1,516 million Low single-digit % increase Net Charge-Offs 0 bps 5 bps - 15 bps Expect continued positive credit grade migration. Potential for need to begin building reserves to support loan growth in 2H22 CET1 Ratio 9.9% ~9.5% - 10.0% Focus on organic growth with optionality to repurchase shares Assumes forward yield curve as of 1/11/22, with 25 bps Fed Funds increases in March, July, and December. 2022 Unemployment of ~3.7%, real GDP growth of ~4.5%, and HPI of ~4.5%

18 1Q22 Outlook Earnings Drivers 4Q21 Adjusted Baseline 1Q22 Adjusted Expectations Comments Net Interest Income (FTE) $502 million High end of mid single-digit % decrease Assumes lower accretion and PPP benefits with relatively stable core NII and lower day count Avg. Interest Earning Assets $82.469 billion Down modestly with average loans down modestly Modest loan growth ex. PPP Noninterest Income $246 million Mid single-digit % decrease Reflects expected further pressure from NSF pricing changes, seasonality and lower other noninterest income Noninterest Expense $474 million Low single-digit % decrease Expect seasonally higher salaries and benefits to be more than offset by lower incentives and commissions and other costsNoninterest Expense ex. Incentives & Commissions $390 million Low single-digit % decrease Net Charge-Offs 1 bps Relatively stable to up modestly Expect continued positive credit grade migration and reserve release CET1 Ratio 9.9% ~9.5% - 10.0% Focus on organic growth with optionality to repurchase shares Assumes forward yield curve as of 1/11/22, with 25 bps Fed Funds increases in March, July, and December. 2022 Unemployment of ~3.7%, real GDP growth of ~4.5%, and HPI of ~4.5%

19 Focused on delivering enhanced shareholder value • Deliver further benefits of diversified business model through revenue synergies and loan growth – Complete systems integration and product and capabilities alignment – Redeploy expense and capital to higher growth/return opportunities – Prudent investments in technology to support dynamic digital needs of clients and associates – Drive continuous improvement in productivity and efficiency beyond the integration • Actively manage capital and balance sheet and maintain excellent credit quality – Opportunistically return capital through share repurchases – Continue to improve overall balance sheet asset and funding mix – Maintain strong risk management practices • Deliver top-quartile ROTCE Significant opportunities to drive relative outperformance and build shareholder value

APPENDIX 20

21 Underlying FY2021 & 4Q21 performance vs. guidance Earnings Drivers Previous Expectations for 4Q21 Adjusted Results 4Q21 Adjusted Actual Results Previous Expectations for FY21 Adjusted Results1 FY21 Adjusted Actual Results Net Interest Income (FTE) High end of low single-digit % decrease 1% Mid single-digit % decrease (4)% ✔ Avg. Interest Earning Assets Down modestly 1% Mid single-digit % increase 5% ✔ Average loans down modestly (1)% ✔ Average loans down mid single-digits (6)% ✔ Noninterest Income Mid to high single-digit % decrease (8)% ✔ Mid single-digit % decrease (4)% ✔ Noninterest Expense Low single-digit % decrease (1)% ✔ Low single-digit % decrease 0% Noninterest Expense ex. Incentives & Commissions Relatively stable 0% ✔ Low single-digit % decrease (1)% ✔ Net Charge-Offs 5 bps - 15 bps 1 bps 0 bps - 10 bps 0 bps ✔ CET1 Ratio ~9.5% - 10.0% 9.9% ✔ ~10% - 10.5% 9.9% ✔ 1Reflects changes from 4Q20 annualized baseline

22 Well-positioned to benefit from rising rates ($s in millions) Net Interest Income Interest Rate Sensitivity Illustrative impact to NII & NIM RQ1 RQ2 RQ3 RQ4 NII NIM NII NIM NII NIM NII NIM +100 bps gradual $16 0.08% $34 0.16% $56 0.27% $80 0.38% +100 bps shock $66 0.33% $78 0.38% $81 0.39% $85 0.40% Loan Portfolio1 • $55.2 billion: variable/fixed repricing mix of 64%/36% net of hedges • ~$28.5 billion tied to LIBOR/ARRs and ~$4.5 billion tied to Prime • ~$8.2 billion of variable rate loans with in-the- money floors Deposits1 • $75.0 billion: $47.1 billion interest-bearing deposits and $27.9 billion non-interest DDA – ~$4.7 billion of indexed interest-bearing non- maturity deposits Securities Portfolio • Completed planned $1.0 billion investment of excess cash in securities in 4Q21 at ~1.7% average yield • Will continue to assess opportunities to manage excess cash levels without taking outsized interest rate risk • Assumes yield curve as of 12/31/21, static balance sheet and ~25% interest-bearing deposit betas • Gradual scenario rate hike assumptions: of 25 bps in RQ3 for +25 scenario; 25 bps in RQ1 and RQ3 for +50 scenario; and 25 bps in each quarter for +100 bps scenario • A 10 percentage point reduction in interest-bearing deposit betas would imply an additional annual benefit to modeled impact of: – $38 million of NII and 0.05% of NIM to +100 bps shock scenario – $23 million of NII and 0.03% of NIM to +100 bps gradual scenario 1.8% 5.6% 9.8% 3.7% 7.6% 16.4% Gradual Scenario Shock Scenario +25 bps +50 bps +100 bps 1Reflects period-end balances excluding unearned items and other miscellaneous adjustments .

23 NII accretion schedule & NII/NIM reconciliation to GAAP financials Estimated IBKC Securities Premium Amortization1 Estimated IBKC Loan Accretion Estimated Loan Accretion - Other Acquisitions $s in millions $s in millions $s in millions 1Q22 $ (10) 1Q22 $ 14 1Q22 $ 4 2Q22-4Q22 $ (25) 2Q22-4Q22 $ 34 2Q22-4Q22 $ 9 2023 and beyond $ (67) 2023 and beyond $ 75 2023 and beyond $ 13 1Q21 Reported to Core Reconciliation $s in millions NII NIM 1Q21 Reported (FTE) $ 511 2.62 % Less: non-core items PPP coupon income and fees 24 (0.01) Time Deposit Amortization 4 0.02 Loan Accretion 32 0.17 IBKC Premium Amortization (14) (0.07) 1Q21 Core (FTE) $ 464 2.52 % 1Estimated based on market rates and prepayment assumptions as of 12/31/2021. 4Q20 Reported to Core Reconciliation $s in millions NII NIM 4Q20 Reported (FTE) $ 525 2.72 % Less: non-core items PPP Coupon Income and Fees 20 (0.05) Time Deposit Amortization 8 0.04 Loan Accretion 33 0.19 IBKC Premium Amortization (18) (0.10) 4Q20 Core (FTE) $ 482 2.63 % 2Q21 Reported to Core Reconciliation $s in millions NII NIM 2Q21 Reported (FTE) $ 500 2.47 % Less: non-core items PPP coupon income and fees 35 0.03 Time Deposit Amortization 1 — Loan Accretion 25 0.14 IBKC Premium Amortization (12) (0.06) 2Q21 Core (FTE) $ 450 2.36 % 3Q21 Reported to Core Reconciliation $s in millions NII NIM 3Q21 Reported (FTE) $ 495 2.41 % Less: non-core items PPP coupon income and fees 32 0.07 Time Deposit Amortization 0 — Loan Accretion 20 0.10 IBKC Premium Amortization (12) (0.06) 3Q21 Core (FTE) $ 454 2.28 % 4Q21 Reported to Core Reconciliation $s in millions NII NIM 4Q21 Reported (FTE) $ 502 2.42 % Less: non-core items PPP coupon income and fees 30 0.10 Time Deposit Amortization 0 — Loan Accretion 15 0.08 IBKC Premium Amortization (10) (0.05) 4Q21 Core (FTE) $ 466 2.28 %

24 Notable Items ($s in millions except per share data) Favorable / (Unfavorable) (In millions, except per share data) 4Q21 3Q21 2Q21 1Q21 4Q20 2021 2020 Noninterest income: Purchase accounting gain (other noninterest income)1 $ — $ — $ 2 $ (1) $ (1) $ 1 $ 533 Retirement of legacy IBKC TruPS (other noninterest income) 3 23 — — — 26 — Branch sale gain (other noninterest income) (4) (2) — — — (5) Total noninterest income — 22 2 (1) (1) 23 (533) Noninterest expense: Salaries and benefits — — — — — (1) (7) Incentives and commissions (9) (10) (16) (21) (21) (56) (55) Deferred compensation expense (6) — — — — (6) — Total personnel expenses (16) (10) (16) (21) (21) (63) (62) Occupancy and equipment — (1) — (4) (2) (5) (6) Outside services (15) (24) (6) (4) (7) (49) (46) Amortization of intangible assets (1) (1) (1) (1) (1) (3) (2) Other noninterest expense (23) (10) (9) (50) (4) (92) (54) Total noninterest expense (54) (46) (32) (80) (34) (212) (170) Total net notable items (pre-tax) 54 68 34 79 33 235 (363) Provision for credit losses — — — — — — (147) Income before income taxes 54 68 34 79 33 235 (216) Tax impact of notable items 13 17 8 19 13 56 78 After-tax impact of notable items $ 41 $ 51 $ 26 $ 60 $ 20 $ 179 $ (294) EPS impact of notable items $ (0.08) $ (0.09) $ (0.05) $ (0.11) $ (0.04) $ (0.32) $ 0.68 Diluted shares 542 550 556 557 556 551 434 1Purchase accounting gain is non-taxable income.

25 Reconciliation to GAAP financials Slides in this presentation use Non-GAAP information. That information is not presented according to generally accepted accounting principles (GAAP) and is reconciled to GAAP information below. Adjusted FHN historical quarterly income statements 4Q21 3Q21 2Q21 1Q21 4Q20 ($s in millions, except per share data) GAAP Notable Items Non- GAAP GAAP Notable Items Non- GAAP GAAP Notable Items Non- GAAP GAAP Notable Items Non- GAAP GAAP Notable Items Non- GAAP Interest income - FTE $ 531 $ 3 $ 534 $ 533 $ 3 $ 536 $ 542 $ 3 $ 545 $ 552 $ 3 $ 555 $ 574 $ 3 $ 578 Interest expense- FTE 33 — 33 41 — 41 45 — 45 45 — 45 53 — 53 Net interest income- FTE 498 3 502 492 3 495 497 3 500 508 3 511 522 3 525 Less: Taxable-equivalent adjustment — 3 3 — 3 3 — 3 3 — 3 3 — 3 3 Net interest income 498 — 498 492 — 492 497 — 497 508 — 508 522 — 522 Noninterest income: Fixed income 82 — 82 96 — 96 102 — 102 126 — 126 104 — 104 Mortgage banking and title 28 — 28 34 — 34 38 — 38 53 — 53 57 — 57 Brokerage, trust, and insurance 36 — 36 37 — 37 35 — 35 33 — 33 31 — 31 Service charges and fees 56 — 56 56 — 56 54 — 54 53 — 53 53 — 53 Card and digital banking fees 19 — 19 21 — 21 21 — 21 17 — 17 18 — 18 Deferred compensation income — — — 3 — 3 7 — 7 3 — 3 9 — 9 Other noninterest income 25 — 25 (1) 22 21 27 2 29 15 (1) 14 16 (1) 15 Total noninterest income 247 — 246 247 22 268 285 2 287 298 (1) 297 288 (1) 288 Total revenue 745 — 745 738 22 760 781 2 784 806 (1) 805 810 (1) 810 Noninterest expense: Personnel expense: Salaries and benefits 190 — 189 191 — 191 191 — 191 196 — 195 200 — 200 Incentives and commissions 93 (9) 84 101 (10) 92 109 (16) 93 120 (21) 99 110 (21) 89 Deferred compensation expense 7 (6) 1 4 — 4 6 — 6 3 — 3 9 — 9 Total personnel expense 290 (16) 274 296 (10) 286 306 (16) 290 318 (21) 297 319 (21) 298 Occupancy and equipment 74 — 73 75 (1) 74 75 — 75 76 (4) 72 76 (2) 74 Outside services 81 (15) 66 89 (24) 65 63 (6) 56 58 (4) 54 59 (7) 52 Amortization of intangible assets 14 (1) 13 14 (1) 13 14 (1) 13 14 (1) 13 15 (1) 14 Other noninterest expense 70 (23) 46 52 (10) 42 40 (9) 31 78 (50) 28 39 (4) 35 Total noninterest expense 528 (54) 474 526 (46) 480 497 (32) 465 544 (80) 464 508 (34) 474 Pre-provision net revenue 217 54 271 213 68 281 284 34 318 262 79 340 302 33 335 Provision for credit losses (65) — (65) (85) — (85) (115) — (115) (45) — (45) 1 — 1 Income before income taxes 282 54 336 298 68 365 399 34 433 307 79 386 301 33 334 Provision for income taxes 53 13 65 63 17 80 88 8 96 71 19 90 56 13 69 Net income 229 41 271 235 51 286 311 26 337 235 60 295 245 20 265 Net income attributable to noncontrolling interest 3 — 3 3 — 3 3 — 3 3 — 3 3 — 3 Net income attributable to controlling interest 227 41 268 232 51 283 308 26 334 233 60 292 242 20 262 Preferred stock dividends 8 — 8 8 — 8 13 — 13 8 — 8 8 — 8 Net income available to common shareholders $ 219 $ 41 $ 260 $ 224 $ 51 $ 275 $ 295 $ 26 $ 321 $ 225 $ 60 $ 284 $ 234 $ 20 $ 255 Common Stock Data EPS $ 0.41 $ (0.08) $ 0.48 $ 0.41 $ (0.09) $ 0.50 $ 0.54 $ (0.05) $ 0.58 $ 0.41 $ (0.11) $ 0.51 $ 0.42 $ (0.04) $ 0.46 Basic shares 537 537 546 546 550 550 552 552 553 553 Diluted EPS $ 0.40 $ (0.08) $ 0.48 $ 0.41 $ (0.09) $ 0.50 $ 0.53 $ (0.05) $ 0.58 $ 0.40 $ (0.11) $ 0.51 $ 0.42 $ (0.04) $ 0.46 Diluted shares 542 542 550 550 556 556 557 557 556 556 Memo: Total Revenue-FTE (Non-GAAP) $ 745 $ 3 $ 748 $ 738 $ 24 $ 763 $ 781 $ 5 $ 787 $ 806 $ 2 $ 808 $ 810 $ 2 $ 813 PPNR-FTE (Non-GAAP) 217 58 274 213 71 283 284 37 321 262 82 343 302 36 339

26 Reconciliation to GAAP financials Slides in this presentation use Non-GAAP information. That information is not presented according to generally accepted accounting principles (GAAP) and is reconciled to GAAP information below. Adjusted FHN historical annual income statements 2021 2020 ($s in millions, except per share data) GAAP Notable Items Non- GAAP GAAP Notable Items Non- GAAP Interest income $ 2,158 $ — $ 2,158 $ 1,898 $ — $ 1,898 Interest expense 163 — 163 235 — 235 Net interest income 1,994 — 1,994 1,662 — 1,662 Noninterest income: Fixed income 406 — 406 423 — 423 Mortgage banking and title 154 — 154 129 — 129 Brokerage, trust, and insurance 141 — 141 107 — 107 Service charges and fees 219 — 219 174 — 174 Card and digital banking fees 78 — 78 59 — 59 Deferred compensation income 13 — 13 11 — 11 Other noninterest income 66 23 89 589 (533) 56 Total noninterest income 1,076 23 1,099 1,492 (533) 960 Total revenue 3,070 23 3,093 3,155 (533) 2,622 Noninterest expense: Personnel expense: Salaries and benefits 767 (1) 766 625 (7) 619 Incentives and commissions 423 (56) 367 396 (55) 341 Deferred compensation expense 20 (6) 14 11 — 11 Total personnel expense 1,210 (63) 1,147 1,033 (62) 971 Occupancy and equipment 300 (5) 294 243 (6) 238 Outside services 290 (49) 241 213 (46) 166 Amortization of intangible assets 56 (3) 53 40 (2) 38 Other noninterest expense 239 (92) 148 189 (54) 136 Total noninterest expense 2,095 (212) 1,883 1,718 (170) 1,549 Pre-provision net revenue 975 235 1,210 1,436 (363) 1,073 Provision for credit losses (310) — (310) 503 (147) 356 Income before income taxes 1,285 235 1,520 933 (216) 717 Provision for income taxes 274 56 331 76 78 154 Net income 1,010 179 1,189 857 (294) 563 Net income attributable to noncontrolling interest 11 — 11 12 — 12 Net income attributable to controlling interest 999 179 1,178 845 (294) 551 Preferred stock dividends 37 — 37 23 — 23 Net income available to common shareholders $ 962 $ 179 $ 1,140 $ 822 $ (294) $ 528 Common Stock Data EPS $ 1.76 $ (0.33) $ 2.09 $ 1.90 $ 0.68 $ 1.22 Basic shares 546 546 432 432 Diluted EPS $ 1.74 $ (0.32) $ 2.07 $ 1.89 $ 0.68 $ 1.22 Diluted shares 551 551 434 434

27 Reconciliation to GAAP financials Slides in this presentation use Non-GAAP information. That information is not presented according to generally accepted accounting principles (GAAP) and is reconciled to GAAP information below. ($s in millions, except per share data) 4Q21 3Q21 2Q21 1Q21 4Q20 2021 2020 Tangible Common Equity (Non-GAAP) (A) Total equity (GAAP) $ 8,494 $ 8,533 $ 8,566 $ 8,307 $ 8,307 $ 8,494 $ 8,307 Less: Noncontrolling interest 295 295 295 295 295 295 295 Less: Preferred stock 520 520 520 470 470 520 470 (B) Total common equity $ 7,679 $ 7,717 $ 7,750 $ 7,541 $ 7,541 $ 7,679 $ 7,541 Less: Intangible assets (GAAP) 1,808 1,822 1,836 1,850 1,864 1,808 1,864 (C) Tangible common equity (Non-GAAP) $ 5,871 $ 5,895 $ 5,914 $ 5,691 $ 5,677 $ 5,871 $ 5,677 Tangible Assets (Non-GAAP) (D) Total assets (GAAP) $ 89,092 $ 88,537 $ 87,908 $ 87,513 $ 84,209 $ 89,092 $ 84,209 Less: Intangible assets (GAAP) 1,808 1,822 1,836 1,850 1,864 1,808 1,864 (E) Tangible assets (Non-GAAP) $ 87,284 $ 86,715 $ 86,072 $ 85,663 $ 82,345 $ 87,284 $ 82,345 Period-end Shares Outstanding (F) Period-end shares outstanding 534 542 551 552 555 534 555 Ratios (A)/(D) Total equity to total assets (GAAP) 9.53 % 9.64 % 9.74 % 9.49 % 9.86 % 9.53 % 9.86 % (C)/(E) Tangible common equity to tangible assets (“TCE/TA”) (Non-GAAP) 6.73 % 6.80 % 6.87 % 6.64 % 6.89 % 6.73 % 6.89 % (B)/(F) Book value per common share (GAAP) $ 14.39 $ 14.24 $ 14.07 $ 13.65 $ 13.59 $ 14.39 $ 13.59 (C)/(F) Tangible book value per common share (Non-GAAP) $ 11.00 $ 10.88 $ 10.74 $ 10.30 $ 10.23 $ 11.00 $ 10.23

28 Reconciliation to GAAP financials Slides in this presentation use Non-GAAP information. That information is not presented according to generally accepted accounting principles (GAAP) and is reconciled to GAAP information below. ($s in millions, except per share data) 4Q21 3Q21 2Q21 1Q21 4Q20 2021 2020 Adjusted Diluted EPS Net income available to common shareholders ("NIAC") (GAAP) a $ 219 $ 224 $ 295 $ 225 $ 234 $ 962 $ 822 Plus Tax effected notable items (Non-GAAP) 41 51 26 60 20 179 (294) Adjusted Net income available to common shareholders (Non-GAAP) b $ 260 $ 275 $ 321 $ 284 $ 255 $ 1,140 $ 528 Diluted Shares (GAAP) c 542 550 556 557 556 551 434 Diluted EPS (GAAP) a/c $ 0.40 $ 0.41 $ 0.53 $ 0.40 $ 0.42 $ 1.74 $ 1.89 Adjusted diluted EPS (Non-GAAP) b/c $ 0.48 $ 0.50 $ 0.58 $ 0.51 $ 0.46 $ 2.07 $ 1.22 Adjusted Net Income ("NI") and Adjusted Return on Assets ("ROA") Net Income ("NI") (GAAP) $ 229 $ 235 $ 311 $ 235 $ 245 $ 1,010 $ 857 Plus Tax effected notable items (Non-GAAP) 41 51 26 60 20 179 (294) Adjusted NI (Non-GAAP) $ 271 $ 286 $ 337 $ 295 $ 265 $ 1,189 $ 563 NI (annualized) (GAAP) d $ 910 $ 931 $ 1,247 $ 955 $ 974 $ 1,010 $ 857 Adjusted NI (annualized) (Non-GAAP) e $ 1,074 $ 1,133 $ 1,353 $ 1,198 $ 1,055 $ 1,189 $ 563 Average assets (GAAP) f $ 89,025 $ 88,401 $ 87,559 $ 85,401 $ 83,809 $ 87,609 $ 64,346 ROA (GAAP) d/f 1.02 % 1.05 % 1.42 % 1.12 % 1.16 % 1.2 % 1.3 % Adjusted ROA (Non-GAAP) e/f 1.21 % 1.28 % 1.54 % 1.40 % 1.26 % 1.4 % 0.9 % Return on Average Common Equity ("ROCE")/ Return on Average Tangible Common Equity ("ROTCE")/ Adjusted ROTCE Net income available to common shareholders (annualized) (GAAP) g $ 868 $ 887 $ 1,182 $ 911 $ 933 $ 962 $ 822 Adjusted Net income available to common shareholders (annualized) (Non- GAAP) h $ 1,032 $ 1,089 $ 1,288 $ 1,154 $ 1,013 $ 1,140 $ 528 Average Common Equity (GAAP) i $ 7,710 $ 7,761 $ 7,651 $ 7,583 $ 7,444 $ 7,677 $ 6,016 Intangible Assets (GAAP) 1,815 1,829 1,843 1,857 1,871 1,836 1,696 Average Tangible Common Equity (Non-GAAP) j $ 5,895 $ 5,932 $ 5,808 $ 5,726 $ 5,573 $ 5,841 $ 4,320 Equity Adjustment (Non-GAAP) — — — — — 71 23 Adjusted Average Tangible Common Equity (Non-GAAP) k $ 5,895 $ 5,932 $ 5,808 $ 5,726 $ 5,573 $ 5,912 $ 4,343 ROCE (GAAP) g/i 11.3 % 11.4 % 15.5 % 12.0 % 12.5 % 12.53 % 13.66 % ROTCE (Non-GAAP) g/j 14.7 % 15.0 % 20.4 % 15.9 % 16.7 % 16.46 % 19.03 % Adjusted ROTCE (Non-GAAP) h/j 17.5 % 18.4 % 22.2 % 20.2 % 18.2 % 19.29 % 12.15 %

29 Reconciliation to GAAP financials Slides in this presentation use Non-GAAP information. That information is not presented according to generally accepted accounting principles (GAAP) and is reconciled to GAAP information below. $ in millions except per share data) 4Q21 3Q21 2Q21 1Q21 4Q20 2021 2020 Adjusted Noninterest Income as a % of Total Revenue Noninterest income (GAAP) a $ 247 $ 247 $ 285 $ 298 $ 288 $ 1,076 $ 1,492 Plus notable items (GAAP) — 22 2 (1) (1) 23 (533) Adjusted noninterest income (Non-GAAP) b 246 268 287 297 288 1,099 960 Revenue (GAAP) c 745 738 781 806 810 $ 3,070 $ 3,155 Taxable-equivalent adjustment 3 3 3 3 3 $ 12 $ 11 Revenue- Taxable-equivalent (Non-GAAP) $ 748 $ 741 $ 784 $ 809 $ 813 $ 3,082 $ 3,166 Plus notable items (GAAP) (a) — 22 2 (1) (1) $ 23 $ (533) Adjusted revenue (Non-GAAP) d 748 763 787 808 813 $ 3,105 $ 2,633 Noninterest income as a % of total revenue (GAAP) a/c 33.10 % 33.39 % 36.43 % 37.00 % 35.61 % 35.04 % 47.31 % Adjusted noninterest income as a % of total revenue (Non-GAAP) b/d 32.95 % 35.14 % 36.49 % 36.78 % 35.42 % 36.38 % 36.45 % Adjusted Efficiency Ratio Noninterest expense (GAAP) e $ 528 $ 526 $ 497 $ 544 $ 508 $ 2,095 $ 1,718 Plus notable items (GAAP) (54) (46) (32) (80) (34) (212) (170) Adjusted noninterest expense (Non-GAAP) f 474 480 465 464 474 1,883 1,549 Revenue (GAAP) g 745 738 781 806 810 3,070 3,155 Taxable-equivalent adjustment 3 3 3 3 3 12 11 Revenue- Taxable-equivalent (Non-GAAP) $ 748 $ 741 $ 784 $ 809 $ 813 $ 3,082 $ 3,166 Plus notable items (GAAP) (a) — 22 2 (1) (1) 23 (533) Adjusted revenue (Non-GAAP) h 748 763 787 808 813 3,105 2,633 Efficiency ratio (GAAP) e/g 70.88 % 71.21 % 63.67 % 67.53 % 62.71 % 68.25 % 54.47 % Adjusted efficiency ratio (Non-GAAP) f/h 63.31 % 62.87 % 59.17 % 57.49 % 58.34 % 60.64 % 58.82 % Adjusted Reserve Build Provision for credit losses (GAAP) i $ (65) (85) $ (115) $ (45) $ 1 $ (310) $ 503 Plus notable items (GAAP) — — — — — — (147) Adjusted provision for credit losses (Non-GAAP) j $ (65) $ (85) $ (115) $ (45) $ 1 $ (310) $ 356 Net Charge-offs (GAAP) k $ 1 $ 3 $ (10) $ 8 $ 29 $ 2 $ 119 Reserve Build/(Release) i-k $ (66) $ (88) $ (105) $ (53) $ (28) $ (312) $ 384 Adjusted Reserve Build/(Release) j-k $ (66) $ (88) $ (105) $ (53) $ (28) $ (312) $ 237

30 Reconciliation to GAAP financials Slides in this presentation use Non-GAAP information. That information is not presented according to generally accepted accounting principles (GAAP) and is reconciled to GAAP information below. $ in millions except per share data) 4Q21 Net income available to common shareholders (GAAP) $ 219 Tax effected Notable Items $ 41 Adjusted Net income available to common shareholders (Non-GAAP) $ 260 Tax effected provision credit $ (53) Adjusted Net income available to common shareholders before provision credit (Non-GAAP) $ 207 Net income available to common shareholders (annualized) (GAAP) a $ 868 Adjusted Net income available to common shareholders (annualized) Non- GAAP) b $ 1,032 Adjusted Net income available to common shareholders before provision credit (annualized) (Non-GAAP) c 820 Average Common Equity (GAAP) d $ 7,710 Intangible Assets (GAAP) $ 1,815 Average Tangible Common Equity (Non-GAAP) e $ 5,895 Equity Adjustment for provision credit (Non-GAAP) $ 18 Adjusted Average Tangible Common Equity (Non-GAAP) f $ 5,877 ROCE (GAAP) a/d 11.3 % ROTCE (Non-GAAP) a/e 14.7 % Adjusted ROTCE (Non-GAAP) b/e 17.5 % Adjusted ROTCE before provision credit (Non-GAAP) c/f 14.0 %

31 Reconciliation to GAAP financials Slides in this presentation use Non-GAAP information. That information is not presented according to generally accepted accounting principles (GAAP) and is reconciled to GAAP information below. Numbers may not foot due to rounding Period-end Average $s in millions 4Q21 3Q21 4Q21 vs 3Q21 4Q21 3Q21 4Q21 vs 3Q21 Loans excluding LMC & PPP $ % $ % Total C& I excl. LMC & PPP $ 25,512 $ 24,360 $ 1,152 5 % $ 24,668 $ 23,932 $ 735 3 % Total CRE 12,109 12,194 (85) (1) % 12,220 12,264 (44) — % Total Commercial excl. LMC & PPP 37,621 36,554 1,067 3 % 36,888 36,196 692 2 % Total Consumer 11,682 11,726 (44) — % 11,681 11,767 (87) (1) % Total Loans excl. LMC & PPP 49,303 48,279 1,024 2 % 48,569 47,963 607 1 % PPP 1,038 2,017 (979) (49) % 1,444 2,925 (1,481) (51) % LMC 4,518 5,139 (622) (12) % 4,669 4,620 50 1 % Total Loans $ 54,859 $ 55,435 $ (576) (1) % $ 54,682 $ 55,508 $ (827) (1) % Loans excluding PPP Total Commercial excl. PPP $ 42,138 $ 41,693 $ 446 1 % $ 41,557 $ 40,816 $ 740 2 % Total Consumer 11,682 11,726 (44) — % 11,681 11,767 (87) (1) % Total Loans excl. PPP $ 53,820 $ 53,418 402 1 % $ 53,238 $ 52,583 654 1 % PPP 1,038 2,017 (979) (49) % 1,444 2,925 (1,481) (51) % Total Loans $ 54,859 $ 55,435 $ (576) (1) % $ 54,682 $ 55,508 (827) (1) % Allowance for Credit Losses (ACL) to Loans Ratio $s in millions Loan Balance ACL Balance ACL/Loans Total Loans $ 54,859 $ 736 1.3 % Loans to Mortgage Companies (LMC) 4,518 4 0.1 PPP 1,038 — — Total excl. LMC & PPP $ 49,303 $ 732 1.5 %