Truist Financial Corporation Issues New Series S Preferred Stock and Amends Articles of Incorporation

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The issuance is subject to certain restrictions on the company's ability to declare or pay dividends on, or purchase, redeem, or otherwise acquire, shares of its common stock or any shares that rank junior to the Series S Preferred Stock if the company does not declare and pay (or set aside) dividends on the Series S Preferred Stock for the last preceding dividend period. The company also amended its Articles of Incorporation to fix the designations, preferences, limitations, and relative rights of the Series S Preferred Stock. The depositary shares were registered under the Securities Act of 1933, as amended, pursuant to a registration statement on Form S-3 (SEC File No. 333-276600), which was filed on January 19, 2024.

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About Truist Financial Corp

Truist Financial Corp is a prominent American bank holding company formed through the merger of BB&T and SunTrust Banks. With a focus on delivering a comprehensive range of financial services, Truist serves individuals, small businesses, and large corporations. Its offerings include traditional banking products, wealth management, mortgage services, and insurance, making it a versatile player in the financial services sector. As one of the largest bank holding companies in the United States, Truist plays a critical role in regional and national markets. Its extensive network of branches and ATMs primarily operates across the southeastern and mid-Atlantic states, facilitating economic activities and growth in these regions. The company's commitment to technology innovation and digital banking solutions enhances its competitiveness and customer experience. Truist Financial Corp not only influences the banking industry but also impacts various sectors through its extensive credit and loan offerings, propelling business operations and consumer spending. By integrating responsible banking practices with a robust strategic vision, Truist continues to uphold a significant market presence while fostering economic development.