Jan. 20, 2021 -- Truist Financial Corporation (NYSE: TFC) today announced announced that it will redeem all outstanding shares of its 5.200% Series G Non-Cumulative Perpetual Preferred Stock ("Series G Preferred Stock") and the corresponding 20,000,000 depositary shares ("Series G Depositary Shares"), each representing a 1/1,000th interest in one share of Series G Preferred Stock. The redemptions will occur on March 1, 2021 (the "Redemption Date"). The Series G Depositary Shares (NYSE: TFC.PG, CUSIP 89832Q844) will be redeemed simultaneously with the redemption of the Series G Preferred Stock on March 1, 2021 for a redemption price equal to $25 per depositary share (equivalent to $25,000 per share of Series G Preferred Stock). When and if declared, regular dividends on the outstanding shares of the Series G Preferred Stock represented by the Series G Depositary Shares for the full current quarterly dividend period will be paid separately on March 1, 2021 to holders of record on the applicable record date, in the customary manner. Accordingly, the redemption price for the Series G Depositary Shares will not include any accrued and unpaid dividends. On and after the Redemption Date, all dividends on the shares of Series G Preferred Stock represented by Series G Depositary Shares so called for redemption shall cease to accrue.

QUANTUMONLINE.COM SECURITY DESCRIPTION:  Truist Financial Corp, formerly BB&T Corp., 5.20% Depositary Shares each representing a 1/1000th interest in a share of the Series G Non-Cumulative Perpetual Preferred Stock, liquidation preference $25 per depositary share, redeemable at the issuer's option on or after 6/1/2018 at $25 per depositary share plus declared and unpaid dividends, and with no stated maturity. Non-cumulative distributions of 5.20% per annum ($1.30 per annum or $0.325 per quarter) will be paid quarterly on 3/1, 6/1, 9/1 & 12/1 to holders of record on the record date that will be the 15th calendar day prior to the payment date or on the record date fixed by the board, not more than 30 days prior to the payment date (NOTE: the ex-dividend date is one business day prior to the record date). The dividends are non-cumulative and if the board of directors does not declare a dividend or the company fails to pay a dividend declared by the board for any quarterly dividend period, the holder will not be entitled to receive any dividend for that quarterly period and the undeclared or unpaid dividend will not accumulate. This security is possibly subject to an early call as a result of the occurrence of a regulatory capital treatment event which no longer allows the company to include the funds originating from this security as Tier 1 capital on their balance sheet (see the prospectus for further information). Dividends paid by this preferred are eligible for the preferential income tax rate of 15% to a maximum of 20% depending on the holder's tax bracket (and under IRS specified holding restrictions) and are also eligible for the dividends received deduction for corporate holders (see page S-34 of the prospectus for further information). This security was rated as Baa2 by Moody’s and BBB by S&P at the date of its IPO. In regard to the payment of dividends and upon liquidation, the preferred shares rank junior to the company's senior debt, equally with other preferreds of the company, and senior to the common shares of the company. See the IPO prospectus for further information on the preferred stock by clicking on the ‘Link to IPO Prospectus’ provided below.

Stock Exchange	Cpn Rate Ann Amt	LiqPref CallPrice	Call Date Matur Date	Moodys/S&P Dated	Distribution Dates	15% Tax Rate
NYSE Chart	5.20% $1.30	$25.00 $25.00	Called for 3/01/2021 None	Baa2 BBB- 1/28/2021	3/1, 6/1, 9/1 & 12/1 Click for MW ExDiv Date Click for Yahoo ExDiv Date	YES

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Address:   214 N. Tryon St. Charlotte, NC 28202
Main Phone Number	336-733-2000
Fax Number	336-733-0118
Investor Relations   Ryan Richards	980-465-5000
Toll Free Phone Number	800-226-5228

CEO - Kelly S. King

CFO - Daryl Bible