Second Quarter 2023 Earnings July 19, 2023

2 Disclaimers 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, as amended; 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, 2Q23 capital ratios are estimates, and unless otherwise noted, references to loans reflect average balances and include leases.

3 2Q23 GAAP financial summary1 1Adjusted financial measures, TBV per share, ROTCE, fully taxable equivalent measures, PPNR, and loans and leases, ACL and ratios excluding Loans to Mortgage Companies are Non-GAAP and are reconciled to GAAP measures in the appendix. Throughout this presentation, references to EPS are fully diluted, 2Q23 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.22Q23 includes 19.7 million share impact of Series G convertible securities issued in connection with TD transaction based on the final conversion rate; all other periods include 27.5 million shares based on the original maximum conversion rate. Reported 2Q23 Change vs. $s in millions except per share data 2Q23 1Q23 4Q22 3Q22 2Q22 1Q23 2Q22 $/bps % $/bps % Net interest income $ 631 $ 688 $ 709 $ 662 $ 542 $ (57) (8) % $ 89 16 % Fee income 400 171 174 213 201 229 134 % 199 99 % Total revenue 1,031 859 882 875 743 172 20 % 288 39 % Expense 555 478 503 468 489 77 16 % 66 13 % Pre-provision net revenue (PPNR) 475 381 379 406 255 94 25 % 220 86 % Provision for credit losses 50 50 45 60 30 — — % 20 67 % Pre-tax income 425 331 334 346 225 94 28 % 200 89 % Income tax expense 96 75 64 78 48 21 28 % 48 100 % Net income 329 256 270 268 177 73 29 % 152 86 % Non-controlling interest 5 4 4 3 3 1 25 % 2 67 % Preferred dividends 8 8 8 8 8 — — % — — % Net income available to common shareholders (NIAC) $ 317 $ 243 $ 258 $ 257 $ 166 $ 74 30 % $ 151 91 % $s in billions Avg loans $ 59.9 $ 58.1 $ 57.6 $ 56.5 $ 55.6 $ 1.9 3 % $ 4.3 8 % Period-end loans $ 61.3 $ 59.0 $ 58.1 $ 57.4 $ 56.5 $ 2.3 4 % $ 4.8 8 % Avg deposits $ 61.4 $ 62.2 $ 64.9 $ 68.1 $ 71.9 $ (0.8) (1) % $ (10.5) (15) % Period-end deposits $ 65.4 $ 61.4 $ 63.5 $ 66.0 $ 70.6 $ 4.0 6 % $ (5.1) (7) % Key performance metrics Net interest margin (NIM) 3.38 % 3.88 % 3.89 % 3.48 % 2.74 % (50) bps 64 bps Loan to deposit ratio (avg.) 97.5 % 93.3 % 88.7 % 83.0 % 77.3 % 419 bps 2,027 bps ROCE 16.4 % 13.3 % 14.4 % 13.9 % 9.1 % 306 bps 728 bps ROTCE 21.1 % 17.4 % 19.1 % 18.2 % 12.1 % 367 bps 903 bps ROA 1.6 % 1.3 % 1.4 % 1.3 % 0.8 % 28 bps 78 bps Efficiency ratio 53.9 % 55.7 % 57.1 % 53.6 % 65.8 % (178) bps (1,189) bps FTEs 7,327 7,282 7,477 7,569 7,627 45 1 % (300) (4) % CET1 ratio 11.1 % 10.4 % 10.2 % 9.9 % 9.8 % 72 bps 127 bps Effective tax rate 22.6 % 22.7 % 19.2 % 22.6 % 21.3 % (8) bps 133 bps Per common share Diluted EPS $ 0.56 $ 0.43 $ 0.45 $ 0.45 $ 0.29 $ 0.13 30 % $ 0.27 92 % Tangible book value per share $ 11.50 $ 10.89 $ 10.23 $ 9.72 $ 10.18 $ 0.61 6 % $ 1.32 13 % Avg. diluted shares outstanding2 561 572 572 570 569 (11) (2) % (8) (1) %

4 Table of contents 2Q23 key messages . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 2Q23 adjusted financial highlights . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 2Q23 notable items . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 NII and NIM . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 Total deposits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 Total loans . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 Adjusted fee income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 Adjusted expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12 Asset quality . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 Capital . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 FY23 guidance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15 Strategic focus . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16 Appendix . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17

5 • Deposits increased $4.0 billion QoQ, or 6%, up 3% year-to-date • Continuing to support clients with loan growth across footprint • Period end loan-to-deposit (LDR) ratio improved to 94% from 96% • Strong capital position, which supported 4% PE loan growth • TBVPS increased 6% driven by a $0.50 increase tied to the Series G conversion and $0.39 from adjusted NIAC • Credit remains strong with NPLs declining $21 million • Adjusted pre-tax pre-provision of $349 million, up 18% year-over-year • Strong net interest margin reflects benefit of asset sensitivity over the cycle, despite recent competitive pressure on funding costs • Fees and expenses stable, excluding the impact of deferred comp Strong results driven by stable, diversified business mix1 Reflects 2Q23 vs. 1Q23 results. 1Adjusted financial measures, TBV per share, ROTCE, fully taxable equivalent measures, PPNR, and loans and leases, ACL and ratios excluding Loans to Mortgage Companies are Non-GAAP and are reconciled to GAAP measures in the appendix. Throughout this presentation, references to EPS are fully diluted, 2Q23 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. Earnings Strength and Solid Returns Capital and Credit Quality Liquidity and Period End Balance Sheet Adj. EPS Adj. ROTCE NIM Adj. Efficiency $0.39 14.6% 3.38% 56.9% CET1 TBV NCO% 11.1% $11.50 0.16% Deposit Growth Loan Growth LDR 6% 4% 94%

6 • Adjusted EPS of $0.39 vs. $0.45 – Adjusted ROTCE of 14.6% – TBV per share of $11.50 • Total revenue down $53 million, or 6% • NII down $56 million, or 8%, reflecting increased funding costs partially offset by higher loan rates and 3% loan growth • Adjusted fee income and expense relatively flat, excluding impact of deferred compensation • Provision expense of $50 million remained stable and reflects the impact of 4% period end loan growth 2Q23 adjusted financial highlights1 2Q23 Change vs. $s in millions except per share data 2Q23 1Q23 2Q22 1Q23 2Q22 $/bps % $/bps % Net Interest Income (FTE) $ 635 $ 691 $ 545 $ (56) (8) % $ 90 17 % Fee income 175 171 188 4 2 % (13) (7) % Total revenue (FTE) 810 863 733 (53) (6) % 77 11 % Expense 461 457 438 4 1 % 23 5 % Pre-provision net revenue 349 406 295 (57) (14) % 54 18 % Provision for credit losses 50 50 30 — — % 20 67 % Net charge-offs 23 16 12 7 47 % 11 88 % Reserve build/(release) 27 34 18 (7) (22) % 9 52 % Net income available to common $ 219 $ 259 $ 195 $ (40) (15) % $ 24 12 % Key performance metrics Net interest margin 3.38 % 3.88 % 2.74 % (50) bps 64 bps Fee income as a % of total revenue 21.6 % 19.9 % 25.7 % 178 bps (405) bps Efficiency ratio 56.9 % 53.0 % 59.8 % 395 bps (289) bps ROTCE 14.6 % 18.6 % 14.2 % (396) bps 44 bps Diluted EPS $ 0.39 $ 0.45 $ 0.34 $ (0.06) (13) % $ 0.05 15 % Diluted shares2 561 572 569 (11) (2) % (8) (1) % TBV per share $ 11.50 $ 10.89 $ 10.18 $ 0.61 6 % $ 1.32 13 % Effective tax rate 21.6 % 22.9 % 21.7 % (130) bps (10) bps Continued earnings strength with momentum in loans & deposits despite industry headwinds 1Adjusted financial measures, TBV per share, ROTCE, fully taxable equivalent measures, PPNR, and loans and leases, ACL and ratios excluding Loans to Mortgage Companies are Non-GAAP and are reconciled to GAAP measures in the appendix. Throughout this presentation, references to EPS are fully diluted, 2Q23 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.22Q23 includes 19.7 million share impact of Series G convertible securities issued in connection with TD transaction based on the final conversion rate; all other periods include 27.5 million shares based on the original maximum conversion rate. 2Q23 vs. 1Q23 Highlights

7 2Q23 notable items1 1Adjusted financial measures, TBV per share, ROTCE, fully taxable equivalent measures, PPNR, and loans and leases, ACL and ratios excluding Loans to Mortgage Companies are Non-GAAP and are reconciled to GAAP measures in the appendix. Throughout this presentation, references to EPS are fully diluted, 2Q23 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. 2Q23 Merger-related items Noninterest income: Gain on merger termination $ (225) Total noninterest income $ 225 Noninterest expense: Salaries and benefits $ 4 Incentives and commissions 21 Outside services 4 Other noninterest expense 1 Total noninterest expense 30 2Q23 Total merger-related notable items $ (30) 2Q23 Other notable items Noninterest expense: Other noninterest expense 65 2Q23 Total other notable items $ (65) 2Q23 Total notable items 130 Tax impact of 2Q23 notable items (33) After-tax impact of 2Q23 notable items $ 98 EPS impact of 2Q23 notable items $ 0.17 ($s in millions, except per share data) GAAP results impacted by $0.17 per share net benefit from notable items • $225 million gain on merger agreement termination • Merger-related expense of $30 million, primarily driven by retention payments and outside services from legal and professional services • Other notable items of $65 million – $50 million contribution to First Horizon Foundation – $15 million tied to derivative valuation adjustments related to prior Visa Class-B share sales • Series G Preferred Stock previously issued to TD under the terminated merger agreement was converted to FHN common stock in June 2023 • Conversion occurred at the rate of 4,000 FHN common shares per Series G preferred share resulting in 19.7 million additional outstanding FHN period end common shares • 2Q23 diluted shares include 19.7 million share impact of Series G Preferred Stock based on the final conversion rate; 2Q22 - 1Q23 includes 27.5 million shares based on the original maximum conversion rate Pre-Tax Notable Items Series G Preferred Stock Conversion Notable Items

8 NII trends reflect increased funding costs & macroeconomic environment1 $545 $666 $712 $691 $635 2.74% 3.48% 3.89% 3.88% 3.38% Reported NII Reported NIM 2Q22 3Q22 4Q22 1Q23 2Q23 ($s in millions) FTE NII and NIM Trends 1Adjusted financial measures, TBV per share, ROTCE, fully taxable equivalent measures, PPNR, and loans and leases, ACL and ratios excluding Loans to Mortgage Companies are Non-GAAP and are reconciled to GAAP measures in the appendix. Throughout this presentation, references to EPS are fully diluted, 2Q23 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. • Net interest margin remains strong, despite moderating from cyclical highs • Net interest income – Higher funding costs driven by increased competition and the dissipating deposit beta lag – Benefit of 3% average loan growth – Higher short term rates and widening credit spreads drove improvement in loan yields • Successful deposit campaign and a higher Fed Funds rate drove a 82 basis point increase in interest-bearing deposit costs from 1.73% to 2.55% – Average Fed Funds Effective Rate of 5.0% vs. 4.5% in 1Q23 – Strong results from the promotional campaign, including $5.8 billion of new deposits from new-to- bank clients and existing customers – Cumulative interest-bearing deposit beta of 50% • Loan spreads on new production expanded ~50bps from 4Q22 levels 2Q23 vs. 1Q23 $s in millions NII NIM 1Q23 Reported $ 691 3.88 % Loan Rates & Spreads 46 0.24 % Loan Volumes & Mix 20 0.01 % Days 5 — % Investment Securities & Other 2 0.02 % Deposit & Funding Volume (63) (0.42) % Deposit Rates (65) (0.34) % 2Q23 Reported $ 635 3.38 % Successful deposit campaign accelerated deposit betas and improved funding profile 2Q23 vs. 1Q23 Highlights

9 $70.5 $66.0 $63.5 $61.4 $65.4 $43.4 $40.2 $40.0 $40.3 $46.6 $27.1 $25.8 $23.5 $21.1 $18.8 Interest-bearing deposits Noninterest-bearing deposits (DDA) 2Q22 3Q22 4Q22 1Q23 2Q23 Attractive deposit and pricing profile1 Period end deposit trends • Period-end deposits of $65.4 billion increased $4.0 billion, or 6% – $782 million of additional customer balances migrated from deposits into collateralized repo sweep product • Period end loan-to-deposit ratio of 94% improved 242 bps – Liquidity profile enhanced by smaller relative securities portfolio vs. peers • Successful deposit outreach and marketing campaign drove new-to-bank client growth, as well as relationship deepening among existing customers – Grew client base by 4%; acquired over 32,000 new-to-bank clients bringing $3.5 billion in balances – ~19,000 of existing clients participated in the deepening promotion ◦ Average balance increase of ~37% ◦ Added a total of $2.3 billion in new-to-bank balances – Capitalized on #1 market share in TN, which contributed ~20% of new balances, with the remaining ~80% distributed across the southeastern footprint • Proactive client outreach program included over 50,000 outbound calls to new and existing clients 1Adjusted financial measures, TBV per share, ROTCE, fully taxable equivalent measures, PPNR, and loans and leases, ACL and ratios excluding Loans to Mortgage Companies are Non-GAAP and are reconciled to GAAP measures in the appendix. Throughout this presentation, references to EPS are fully diluted, 2Q23 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. Net deposit growth of $4 billion reflects continued positive momentum 2Q23 vs. 1Q23 Highlights ($s in billions)

10 • Average loans of $59.9 billion up $1.9 billion, or 3% – Growth in attractive markets, including Nashville, Atlanta, and Texas – CRE growth driven by fund-ups from existing loans, primarily multi-family – LMC increased $388 million, up from seasonal lows – Core loan yields expanded 27 bps • Asset sensitive profile reflected in loan composition of 67% floating vs 33% fixed rate • Period-end loans of $61.3 billion up $2.3 billion or 4% – $1.6 billion, or 3%, increase in loans before the impact of LMC – CRE growth included $514 million of fund-ups on existing loans, while total commitments are relatively stable – LMC increased $651 million • Period end unfunded commitments increased 1% • Period end line utilization of 42%2 1Adjusted financial measures, TBV per share, ROTCE, fully taxable equivalent measures, PPNR, and loans and leases, ACL and ratios excluding Loans to Mortgage Companies are Non-GAAP and are reconciled to GAAP measures in the appendix. Throughout this presentation, references to EPS are fully diluted, 2Q23 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. $55.6B $56.5B $57.6B $58.1B $59.9B Commercial and Industrial (C&I) excl. LMC Commercial real estate (CRE) Consumer real estate Credit card and other Loans to mortgage companies (LMC) 2Q22 3Q22 4Q22 1Q23 2Q23 Average loan trends 21% 2% 50% 23% 5% 2Q22 3Q22 4Q22 1Q23 2Q23 Yields 3.57% 4.35% 5.12% 5.64% 5.89% Core yields 3.43% 4.26% 5.07% 5.58% 5.85% Avg 1M SOFR 0.92% 2.42% 3.88% 4.61% 5.04% Diversified portfolio across attractive geographic footprint1 51% 23% 21% 1% 4% Average loans up 3% QoQ 50% 23% 22% 1% 4% 51% 23% 21% 1% 3% 2Q23 vs. 1Q23 Highlights 6% 2% 20% 49% 23%

11 • Adjusted fee income up $4 million, or 2%, driven by deferred compensation increase of $5 million, which is largely offset in noninterest expense • Fixed income decreased $9 million with ADR down 20% driven by continued challenging market conditions • Service charges and fees up $4 million driven by higher deposit transactions, cash management fees, and seasonal factors • Mortgage banking fees increased $1 million from higher volume and gain on sale spreads – Mix shift from secondary to portfolio as customers shift from fixed rate to ARMs • Other noninterest income up $2 million primarily driven by FHLB and Fed stock dividends Adjusted fee income stable despite declines in countercyclical1 1Adjusted financial measures, TBV per share, ROTCE, fully taxable equivalent measures, PPNR, and loans and leases, ACL and ratios excluding Loans to Mortgage Companies are Non-GAAP and are reconciled to GAAP measures in the appendix. Throughout this presentation, references to EPS are fully diluted, 2Q23 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. 2Q23 Change vs. $s in millions 2Q23 1Q23 4Q22 3Q22 2Q22 1Q23 2Q22 $/bps % $/bps % Fixed income $ 30 $ 39 $ 35 $ 46 $ 51 $(9) (23) % $(21) (41) % Service charges and fees 59 55 56 56 57 4 7 % 2 4 % Mortgage banking & title 6 5 4 9 22 1 20 % (16) (73) % Brokerage, trust, and insurance 35 34 33 34 36 1 3 % (1) (3) % Card and digital banking fees 21 19 20 21 23 2 11 % (2) (9) % Deferred compensation income 8 3 7 (3) (17) 5 NM 25 147 % Other noninterest income 17 15 20 18 15 2 13 % 2 13 % Total fee income $ 175 $ 171 $ 173 $ 181 $ 188 $4 2 % $(13) (7) % Key Metrics Fixed Income Average Daily Revenue (ADR) $ 0.3 $ 0.4 $ 0.4 $ 0.5 $ 0.6 $ (0.1) (20) % $ (0.3) (43) % Higher banking fees offset the decrease in fixed income 2Q23 vs. 1Q23 Highlights

12 Expenses flat excluding deferred compensation1 • Adjusted expense of $461 million up $4 million driven by a $5 million increase in deferred compensation which is largely offset in noninterest income • Personnel expense flat excluding the impact of deferred compensation • Outside services up $5 million, partially attributable to increase in advertising related to new-to-bank deposit campaign and brand awareness initiatives • Other expense declines driven by lower franchise & realty tax expense and fraud losses 2Q23 Change vs. $s in millions 2Q23 1Q23 4Q22 3Q22 2Q22 1Q23 2Q22 $/bps % $/bps % Salaries and benefits $ 187 $ 188 $ 178 $ 185 $ 190 $ (1) (1) % $ (3) (2) % Incentives and commissions 65 64 70 68 71 1 2 % (6) (8) % Deferred compensation expense 8 3 7 (2) (18) 5 NM 26 144 % Total personnel expense 260 255 254 251 244 5 2 % 16 7 % Occupancy and equipment 68 70 71 70 72 (2) (3) % (4) (6) % Outside services 68 63 64 64 61 5 8 % 7 11 % Amortization of intangible assets 12 12 12 12 12 — — % — — % Other noninterest expense 53 58 58 48 50 (5) (9) % 3 6 % Total noninterest expense $ 461 $ 457 $ 458 $ 444 $ 438 $ 4 1 % $ 23 5 % Full-time equivalent associates 7,327 7,282 7,477 7,569 7,627 45 1 % (300) (4) % 1Adjusted financial measures, TBV per share, ROTCE, fully taxable equivalent measures, PPNR, and loans and leases, ACL and ratios excluding Loans to Mortgage Companies are Non-GAAP and are reconciled to GAAP measures in the appendix. Throughout this presentation, references to EPS are fully diluted, 2Q23 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. Results reflect continued expense discipline 2 2Q23 vs. 1Q23 Highlights

13 Continued strong credit quality 1Net charge-off % is annualized and as % of average loans. $704 $752 $771 $800 $827 1.24% 1.31% 1.33% 1.35% 1.35% ACL ACL/Loans 2Q22 3Q22 4Q22 1Q23 2Q23 Allowance for credit losses (ACL) Non-performing loans (NPLs) $301 $292 $316 $424 $402 0.53% 0.51% 0.54% 0.72% 0.66% NPLs $ NPLs % 2Q22 3Q22 4Q22 1Q23 2Q23 • Net charge-offs of $23 million increased $7 million • Provision expense of $50 million flat with 1Q23 – ~$27 million reserve build reflects the impact of 3% loan growth ex. LMC and continued macroeconomic uncertainty • NPL ratio of 66 bps down 6 bps • ACL coverage ratio remained stable at 1.35% • Disciplined lending leads to strong charge-off performance across multiple credit cycles 1 $12 $12 $26 $16 $23 0.09% 0.08% 0.18% 0.11% 0.16% NCOs NCO% 2Q22 3Q22 4Q22 1Q23 2Q23 Reserve build reflects the impact of loan growth and revised macroeconomic outlook 2Q23 vs. 1Q23 Highlights ($s in millions) Net charge-offs

14 2Q22 3Q22 4Q22 1Q23 2Q23 CET1 ratio Tier 1 capital ratio Total capital ratio 2Q22 3Q22 4Q22 1Q23 2Q23 Strong capital position1 Capital levels 11.6% 13.0% 13.1% 11.7% 13.3% 11.9% 13.6% 12.1% 13.6% 12.1% $10.89 $0.50 $0.41 $0.30 $(0.07) $(0.15) $(0.27) $(0.11) $11.50 1Q23 actual Series G Conv. Adjusted NIAC Net of Change in Intangibles Termination Fee Foundation Cont. Common Div AFS Securities & Cash Flow Hedges MTM Other 2Q23 actual • CET1 ratio remained strong at 11.1% as the benefit of Series G conversion, adjusted NIAC, and merger termination fee was partially offset by a reduction tied to growth in loans and unfunded commitments, and by common dividends • CET1 net of unrealized losses of 9.3% above regulatory capital threshold of 7.0% • TBVPS of $11.50 increased 6% driven by a $0.50 increase tied to the Series G conversion to common stock and a $0.41 increase tied to adjusted NIAC net of change in intangibles • Total capital of 13.6% flat with 1Q23 1Adjusted financial measures, TBV per share, ROTCE, fully taxable equivalent measures, PPNR, and loans and leases, ACL and ratios excluding Loans to Mortgage Companies are Non-GAAP and are reconciled to GAAP measures in the appendix. Throughout this presentation, references to EPS are fully diluted, 2Q23 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. 2CET1 impact of available for sale (AFS) and held to maturity (HTM) unrealized losses are presented on an after-tax basis. 3Loan FV impact represents the difference between book value and estimated fair value of loans and leases as of March 31, 2023 as disclosed in FHN’s 10-Q filing. 4Other includes other notable items and equity compensation. Tangible book value per share4 9.8% 9.9% 10.2% 10.4% 11.1% 2Q23 vs. 1Q23 Highlights 11.1% (1.3)% (0.2)% 9.5% (0.2)% 9.3% 2Q23 CET1 Estimate AFS Impact HTM Impact Pro Forma Loan FV Impact Pro Forma incl. Loan FV Impact 2Q23 CET1 net of unrealized losses2,3 Lower exposure to unrealized losses due to smaller portfolio and moderate effective duration

15 FY2023 Outlook Earnings Drivers FY22 Adjusted Baseline1 FY23 Adjusted Expectations Comments Average Loans $56 billion Up 3% – 5% Growth rate moderating in 2H23 Net Interest Income (FTE) $2,405 million Up 6% – 9% Assumes 0.25% rate hike in July; DDA balances return to pre-pandemic levels Noninterest Income2 $765 million Down 6% – 10% Modest improvement in fixed income in 2H23 Noninterest Expense2 $1,795 million Up 6% – 8% Increased investment in technology, marketing, and personnel Net Charge-Offs 11 bps 15 bps – 25 bps Modest normalization from very benign levels Tax Rate 21.5% 20% – 22% Timing of discrete items impacts quarterly rate CET1 Ratio 10.2% 11.25% – 11.75% Low single-digit RWA growth from 1Q23; ~565 million average diluted shares - no share buybacks 1Adjusted measures are non-GAAP and are reconciled in the appendix. 2Variability in Deferred Compensation may impact growth rates in noninterest income and noninterest expense but should have an offsetting and immaterial impact on pretax income.

16 Diversified business model with highly attractive geographic footprint provides opportunity to deliver outperformance through a variety of economic cycles Strategic focus on delivering enhanced shareholder value 1 Strong balance sheet and prudent risk management to drive increased capital efficiency and returns 2 Client-centric model committed to serving as trusted advisor through Capital + Counsel as a core differentiator3 Disciplined execution of strategy and continuous improvement mindset to further enhance efficiency and productivity 4 Investing in the well-being of associates and communities is central to our purpose5

APPENDIX 17

18Numbers may not foot due to rounding. 1Adjusted financial measures, TBV per share, ROTCE, 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, 2Q23 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 includes other notable items and equity compensation. 2Q23 CET1 Walkforward1,2 10.4% 0.7% 0.3% 0.2% (0.1)% (0.1)% (0.1)% (0.3)% 11.1% 1Q23 Actual CET1 Series G Conversion Adjusted NIAC Termination Fee Foundation Contribution Other Common Dividend Higher Loan Balances & Unfunded Commitments 2Q23 Estimate

19 6% 4% 4% 3% 2% 2% 1% 1% Multi- family Retail Industrial Office (non- med) Hospitality Medical office Other Land + residential • Disciplined risk management practice and underwriting standards across CRE portfolio • $8 million of net charge offs from CRE in the total portfolio – Driven by a single relationship in other – $0 of net charge-offs in office portfolio • Granular CRE loan book with less than 6% property type concentration across the total loan portfolio • Continued strong asset quality with 98.5% of CRE graded pass 1Adjusted financial measures, TBV per share, ROTCE, 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, 2Q23 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. Diversified, high credit quality CRE portfolio Geographically diverse portfolio with minimal concentration across property types 2Q23 Highlights 26% 12% 11% 11% 11% 10% 9% 9% FL TX NC All Other Other South Eastern GA TN LA PE CRE by Property TypePE CRE by State Composition (% of total loans)

20 TN, 37% FL, 19% NC, 12% LA, 12% AL, 4% TX, 3% GA, 2% AR, 2% All other states, 4% Specialty Bank, 5% Well-diversified and stable funding mix1 • Stable, cost-effective deposits from a diverse commercial and consumer client base across 12-state footprint and specialty lines of business • Commercial deposits of $36.2 billion, or 55% and consumer of $29.2 billion, or 45% • Attractive lower-cost deposit base with 29% DDA 68% of 2Q23 deposits insured or collateralized All data as of June 30, 2023. 1Adjusted financial measures, core NII, core NIM, TBV per share, ROTCE, fully taxable equivalent measures, PPNR, and loans and leases, ACL and ratios excluding Loans to Mortgage Companies and/or loans under the federal PPP are Non-GAAP and are reconciled to GAAP measures in the appendix. Throughout this presentation, references to EPS are fully diluted, 2Q23 capital ratios are estimates, and unless otherwise noted, references to loans reflect average balances and include leases. Throughout this presentation references to NII, Total Revenue, Net Interest Margin and PPNR are presented on a fully taxable equivalent basis unless otherwise noted. 68% of deposits insured or collateralized 2Q23 diversified deposit mix by product 29% 36% 13% 22% Demand deposit accounts Savings Time deposits Other interest-bearing deposits 2Q23 deposits by state ($s in billions) $39.9 61% $21.1 32% $4.5 7% Insured Uninsured & uncollateralized Collateralized

21 $9.8 $10.3 $10.1 $10.3 $10.2 1.87% 2.14% 2.41% 2.45% 2.49% Average AFS Securities Average HTM Securities Average Yield 2Q22 3Q22 4Q22 1Q23 2Q23 Investment portfolio1 • Portfolio represents ~12% of total assets • Effective duration of 5.2 years • Low reliance on HTM designation at ~13% of total portfolio • 94% U.S. Government or Agency-backed by GSEs • Total unrealized losses of $1.4B vs $1.3B in 1Q23 1Adjusted financial measures, core NII, core NIM, TBV per share, ROTCE, 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, 2Q23 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. 2Calculated based on period end market values. 3Estimated as of 6/30/23; includes maturities and projected calls 2Q23 Highlights Prudently managed to support liquidity and IRR Steady principal cash flows3 $293 $237 $242 $232 2Q23 3Q23 4Q23 1Q24 Investment portfolio ($ in billions) 2Q22 3Q22 4Q22 1Q23 2Q23 % of total assets 11% 12% 13% 13% 12% Total unrealized losses (pre-tax) $(1.0) $(1.5) $(1.4) $(1.3) $(1.4) Effective duration (years) 5.4 5.3 5.3 5.2 5.2 Unencumbered securities / total securities2 39% 52% 45% 44% 35% ($s in billions) ($s in millions) Agency MBS 44% Agency CMBS 23% Agency CMO 14% U.S. Agencies & Treasury 12% States & Municipalities 6% 2Q23 investment portfolio composition2

22 Notable Items ($s in millions except per share data) *2Q23 includes $50 million contribution to First Horizon Foundation; 2Q23, 4Q22 and 2Q22 includes $15 million, $10 million and $12 million, respectively of Visa derivative valuation expense. (In millions) 2Q23 1Q23 4Q22 3Q22 2Q22 Summary of Notable Items: Gain on merger termination $ 225 $ — $ — $ — $ — Gain on sale of title services business — — 1 21 — Gain related to equity securities investments — — — 10 — Gain on sale of mortgage servicing rights — — — — 12 Net Merger/acquisition/transaction-related items (30) (21) (36) (24) (38) Other notable expenses* (65) — (10) — (12) Total notable items 130 (21) (45) 7 (38) EPS impact of notable items $ 0.17 $ (0.03) $ (0.06) $ 0.01 $ (0.05) (In millions) 2022 Summary of Notable Items: IBKC Branch sale gain (other noninterest income) $ 1 Gain on sale of title services business 22 Gain related to equity securities investments 16 Gain on sale of mortgage servicing rights 12 Merger related expenses (136) Other notable expenses* (22) Total notable items (107) EPS impact of notable items $ (0.15)

23 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. (a) Included in Total equity on the Consolidated Balance Sheet. (b) Includes goodwill and other intangible assets, net of amortization. Numbers may not foot due to rounding. CONSOLIDATED NON-GAAP TO GAAP RECONCILIATION Quarterly, Unaudited ($s in millions, except per share data) 2Q23 1Q23 4Q22 3Q22 2Q22 Tangible Common Equity (Non-GAAP) (A) Total equity (GAAP) $ 8,960 $ 8,895 $ 8,547 $ 8,283 $ 8,551 Less: Noncontrolling interest (a) 295 295 295 295 295 Less: Preferred stock (a) 520 1,014 1,014 1,014 1,014 (B) Total common equity $ 8,144 $ 7,586 $ 7,238 $ 6,974 $ 7,242 Less: Intangible assets (GAAP) (b) 1,720 1,732 1,744 1,757 1,782 (C) Tangible common equity (Non-GAAP) $ 6,424 $ 5,853 $ 5,494 $ 5,217 $ 5,459 Tangible Assets (Non-GAAP) (D) Total assets (GAAP) $ 85,071 $ 80,729 $ 78,953 $ 80,299 $ 85,132 Less: Intangible assets (GAAP) (b) 1,720 1,732 1,744 1,757 1,782 (E) Tangible assets (Non-GAAP) $ 83,351 $ 78,997 $ 77,209 $ 78,542 $ 83,350 Period-end Shares Outstanding (F) Period-end shares outstanding 559 538 537 537 536 Ratios (A)/(D) Total equity to total assets (GAAP) 10.53 % 11.02 % 10.83 % 10.32 % 10.04 % (C)/(E) Tangible common equity to tangible assets (“TCE/TA”) (Non-GAAP) 7.71 % 7.41 % 7.12 % 6.64 % 6.55 % (B)/(F) Book value per common share (GAAP) $ 14.58 $ 14.11 $ 13.48 $ 12.99 $ 13.50 (C)/(F) Tangible book value per common share (Non-GAAP) $ 11.50 $ 10.89 $ 10.23 $ 9.72 $ 10.18

24 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. CONSOLIDATED NON-GAAP TO GAAP RECONCILIATION Quarterly, Unaudited ($s in millions, except per share data) 2Q23 1Q23 4Q22 3Q22 2Q22 Adjusted Diluted EPS Net income available to common shareholders ("NIAC") (GAAP) a $ 317 $ 243 $ 258 $ 257 $ 166 Plus Tax effected notable items (Non-GAAP) (a) (98) 16 34 (5) 29 Adjusted net income available to common shareholders (Non-GAAP) b $ 219 $ 259 $ 293 $ 252 $ 195 Diluted Shares (GAAP)8 c 561 572 572 570 569 Diluted EPS (GAAP) a/c $ 0.56 $ 0.43 $ 0.45 $ 0.45 $ 0.29 Adjusted diluted EPS (Non-GAAP) b/c $ 0.39 $ 0.45 $ 0.51 $ 0.44 $ 0.34 Adjusted Net Income ("NI") and Adjusted Return on Assets ("ROA") Net Income ("NI") (GAAP) $ 329 $ 256 $ 270 $ 268 $ 177 Plus Tax effected notable items (Non-GAAP) (a) (98) 16 34 (5) 29 Adjusted NI (Non-GAAP) $ 231 $ 271 $ 304 $ 263 $ 206 NI (annualized) (GAAP) d $ 1,320 $ 1,037 $ 1,070 $ 1,063 $ 709 Adjusted NI (annualized) (Non-GAAP) e $ 928 $ 1,100 $ 1,206 $ 1,045 $ 823 Average assets (GAAP) f $ 82,304 $ 78,841 $ 79,521 $ 82,551 $ 86,326 ROA (GAAP) d/f 1.60 % 1.32 % 1.35 % 1.29 % 0.82 % Adjusted ROA (Non-GAAP) e/f 1.13 % 1.40 % 1.52 % 1.27 % 0.95 % Return on Average Common Equity ("ROCE")/ Return on Average Tangible Common Equity ("ROTCE")/ Adjusted ROTCE Net income available to common shareholders ("NIAC") (annualized) (GAAP) g $ 1,270 $ 987 $ 1,025 $ 1,020 $ 666 Adjusted Net income available to common shareholders (annualized) (Non-GAAP) h $ 878 $ 1,050 $ 1,161 $ 1,001 $ 781 Average Common Equity (GAAP) i $ 7,747 $ 7,398 $ 7,106 $ 7,360 $ 7,305 Intangible Assets (GAAP) (b) 1,726 1,738 1,750 1,767 1,789 Average Tangible Common Equity (Non-GAAP) j $ 6,021 $ 5,659 $ 5,356 $ 5,593 $ 5,516 Equity Adjustment (Non-GAAP) — — — — — Adjusted Average Tangible Common Equity (Non-GAAP) k $ 6,021 $ 5,659 $ 5,356 $ 5,593 $ 5,516 ROCE (GAAP) g/i 16.40 % 13.34 % 14.42 % 13.85 % 9.12 % ROTCE (Non-GAAP) g/j 21.10 % 17.43 % 19.14 % 18.23 % 12.07 % Adjusted ROTCE (Non-GAAP) h/k 14.59 % 18.55 % 21.68 % 17.89 % 14.15 % (a) Amounts adjusted for notable items as detailed on page 22 (b) Includes goodwill and other intangible assets, net of amortization. Numbers may not foot due to rounding

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. CONSOLIDATED NON-GAAP TO GAAP RECONCILIATION Quarterly, Unaudited (In millions) 2Q23 1Q23 4Q22 3Q22 2Q22 Adjusted Noninterest Income as a % of Total Revenue Noninterest income (GAAP) k $ 400 $ 171 $ 174 $ 213 $ 201 Plus notable items (GAAP) (a) (225) — (1) (32) (13) Adjusted noninterest income (Non-GAAP) l $ 175 $ 171 $ 173 $ 181 $ 188 Revenue (GAAP) m $ 1,031 $ 859 $ 882 $ 875 $ 743 Taxable-equivalent adjustment 4 4 4 4 3 Revenue- Taxable-equivalent (Non-GAAP) 1,035 863 886 878 746 Plus notable items (GAAP) (a) (225) — (1) (32) (13) Adjusted revenue (Non-GAAP) n $ 810 $ 863 $ 885 $ 847 $ 733 Noninterest income as a % of total revenue (GAAP) k/m 38.82 % 19.94 % 19.68 % 24.30 % 27.06 % Adjusted noninterest income as a % of total revenue (Non-GAAP) l/n 21.63 % 19.85 % 19.55 % 21.37 % 25.68 % Adjusted Efficiency Ratio Noninterest expense (GAAP) o $ 555 $ 478 $ 503 $ 468 $ 489 Plus notable items (GAAP) (a) (95) (21) (46) (25) (50) Adjusted noninterest expense (Non-GAAP) p $ 461 $ 457 $ 458 $ 444 $ 438 Revenue (GAAP) q $ 1,031 $ 859 $ 882 $ 875 $ 743 Taxable-equivalent adjustment 4 4 4 4 3 Revenue- Taxable-equivalent (Non-GAAP) 1,035 863 886 878 746 Plus notable items (GAAP) (a) (225) — (1) (32) (13) Adjusted revenue (Non-GAAP) r $ 810 $ 863 $ 885 $ 847 $ 733 Efficiency ratio (GAAP) o/q 53.87 % 55.65 % 57.07 % 53.56 % 65.76 % Adjusted efficiency ratio (Non-GAAP) p/r 56.90 % 52.95 % 51.70 % 52.42 % 59.79 % (a) Amounts adjusted for notable items as detailed on page 22 (b) Includes goodwill and other intangible assets, net of amortization. Numbers may not foot due to rounding

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. Numbers may not foot due to rounding Period-end Average ($s in millions) 2Q23 1Q23 2Q23 vs. 1Q23 2Q23 1Q23 2Q23 vs. 1Q23 Loans excluding LMC Total Loans (GAAP) $ 61,295 $ 59,045 $ 2,250 4 % $ 59,924 $ 58,074 $ 1,850 3 % LMC (GAAP) 2,691 2,040 651 32 % 2,262 1,875 388 21 % Total Loans excl. LMC (Non-GAAP) 58,604 57,005 1,599 3 % 57,662 56,199 1,463 3 % Total Consumer (GAAP) 14,289 13,475 814 6 % 13,873 13,226 647 5 % Total Commercial excl. LMC (Non-GAAP) 44,315 43,530 785 2 % 43,789 42,973 816 2 % Total CRE (GAAP) 13,891 13,397 494 4 % 13,628 13,290 338 3 % Total C& I excl. LMC (Non-GAAP) $ 30,424 $ 30,133 $ 291 1 % $ 30,161 $ 29,683 $ 478 2 % FY 2022 Adjusted Results (In millions) 2022 Net interest income (GAAP) $ 2,392 Taxable-equivalent adjustment 13 Net interest income - taxable-equivalent (Non-GAAP) $ 2,405 Noninterest income (GAAP) $ 816 Plus notable items (GAAP) (a) (51) Adjusted noninterest income (Non-GAAP) $ 765 Noninterest expensee (GAAP) $ 1,953 Plus notable items (GAAP) (a) (158) Adjusted noninterest expense (Non-GAAP) $ 1,795