QUANTUMONLINE.COM SECURITY DESCRIPTION:  First Horizon Corp, formerly First Horizon National Corp., formerly IBERIABANK Corp., 6.60% Depositary Shares, each representing a 1/400th interest in a share of Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series C, liquidation preference $25 per depositary share, redeemable at the issuer's option on or after 5/1/2026 at $25 per depositary share plus declared and unpaid dividends, and with no stated maturity. Non-Cumulative distributions of 6.60% per annum ($1.65 per annum or $0.4125 per quarter) will be paid quarterly on 2/1, 5/1, 8/1 & 11/1 to holders of record on the record date that will be the fifteenth calendar day prior to the payment date or such other record date fixed by the board, not more than 60 days or less than 10 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. From 5/1/2026, dividends will accumulate and be payable at a floating rate equal to three-month LIBOR 3-month CME Term SOFR rate plus a spread adjustment of 0.26161% plus 492 basis points, payable quarterly, in arrears, on 2/1, 5/1, 8/1 & 11/1 of each year, beginning on 5/1/2026. Dividends paid by this preferred security 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-38 of the prospectus for further information). 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). This security was not rated by Moody’s or S&P at the time 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	FixFloat $1.65	$25.00 $25.00	5/01/2026 None	Ba2 BB- 6/15/2025	2/1, 5/1, 8/1 & 11/1 Click for MW ExDiv Date Click for Yahoo ExDiv Date	YES

Notes:  April 25, 2023 -- First Horizon Corporation (NYSE: FHN or "First Horizon") today announced that, after June 30, 2023, US dollar LIBOR will be replaced with CME Term SOFR as the reference rate used in certain outstanding securities issued by FHN or its affiliates. As a result, each LIBOR reference in each applicable securities contract will automatically transition by operation of law to CME Term SOFR, plus a tenor based spread adjustment, on the first business day after June 30, 2023, pursuant to the LIBOR Act and the implementing regulations. FHN is issuing this press release to notify all holders of the securities listed below, the replacement benchmark rate shall be the 3-month CME Term rate plus a spread adjustment of 0.26161%, on the first reset date after USD LIBOR ceases publication in June 2023.

Company's Online Information Links

HOME PAGE:     https://www.firsthorizon.com/
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Company's Online SEC EDGAR Filings

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Company's Email Address Links

Email Address	InvestorRelations@firsthorizon.com
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Address and Phone Numbers

Address:   165 Madison Avenue, Memphis, TN 38103
Main Phone Number	901-523-4444
Fax Number	901-523-4614
Investor Relations   Aarti Bowman	901-523-4017
Toll Free Phone Number	800-489-4040

CEO - D. Bryan Jordan

CFO - Hope Dmuchowski