Truist community impact report

Charlotte 2020 Impact Report 2020 Charlotte | 2

Purpose

To inspire and build better lives and communities

Mission

For clients For teammates For stakeholders

Provide distinctive, Create an inclusive Optimize long-term secure, and successful and energizing value for stakeholders client experiences environment that through safe, sound through touch and empowers teammates and ethical practices. technology. to learn, grow and have meaningful careers.

Values

Caring One Team Trustworthy

Everyone and Together, we We serve every moment can accomplish with integrity. matters. anything.

Community is far more than your neighborhood, town, city, or state. And it’s bigger than the Southeast region of the , where Truist is headquartered. Community means fellowship, common culture, and shared goals. Community is home. Success Happiness While community encompasses many things, for the purposes of this report and When our the geographies we are referencing, our support includes the city of Charlotte; the Positive energy clients win, Charlotte metropolitan statistical area (MSA); and the Metrolina region, which includes changes lives. we all win. the following counties surrounding the city: Alexander, Buncombe, Burke, Cabarrus, Caldwell, Catawba, Chester, Cleveland, Gaston, Haywood, Henderson, Iredell, Jackson, Lancaster, Lincoln, Mecklenburg, McDowell, Rowan, Rutherford, Union, and York. Throughout this report, all numbers reflect the Charlotte MSA and are from January 1 through September 30, 2020, unless otherwise indicated. Impact Report 2020 Charlotte | 3

Our Charlotte presence 348,869 40,689 3,430 Retail clients Small business Commercial clients clients 19,865 10,211 857,894 Premier Banking Wealth Total accounts clients management (savings and checking) clients

Truist Center, an iconic 47-story downtown office tower, is now the Truist headquarters. Charlotte will also be home to the new Truist Innovation and Technology Center. From Regional President Heath Campbell

Our purpose at Truist is to inspire and 1) Education, which includes the Across our footprint build better lives and communities. essential foundation of reading at Truist signature programs During a time when our communities grade level by the third grade. are challenged by the COVID-19 Community Benefits Plan: Our landmark Truist Leadership Institute: This one-of-a-kind pandemic, it has been rewarding to 2) Affordable housing, which provides plan is a three-year, $60 billion commitment learning experience empowers executives, watch our teammates and leaders at an affordable place to live and fosters to increase financial resources for low- and educators, and students to become better Truist bring our purpose to life. stability at home. moderate-income (LMI) communities across leaders and individuals through unique the regions Truist serves. programs and workshops. We are proud of our new home and 3) Health and well-being, which headquarters city of Charlotte, and include the basic needs of food, Truist Cares: Launched to support the needs CornerSquare Community Capital: A we have experienced firsthand the water, clothing, and other essentials of our communities, clients, and teammates $40 million donation from the Truist reasons this community is growing for families. during the COVID-19 pandemic, we committed Charitable Fund and the Truist Foundation and thriving. Although our city is $50 million to nonprofit organizations, including helped establish CornerSquare, a new ranked as one of the best places to 4) Access to capital, which allows more than $7 million in grant funding to local national nonprofit fund supporting ethnically live and work, that high quality of life community members to invest United Way organizations. and racially diverse and women-owned small isn’t shared by all. in education, transportation, homeownership, and their businesses. Lighthouse Project: This annual, enterprise- We have partnered with civic, entrepreneurial dreams. wide program integrates the talent and energy Truist Momentum: An industry-leading philanthropic, and corporate leaders of teammates undertaking more than 1,000 workplace financial-wellness program with to channel our efforts into ensuring As you’ll read in this report, Truist initiatives to support their communities. proven results benefiting both employees and that all of our neighbors have an equal also stepped up to help meet the challenges our communities, employers, this program inspires, educates, opportunity to thrive. Our community Charity Miles: As part of our Truist Cares teammates, and clients have faced and equips employees to manage their money impact efforts are focused on four initiative, the Truist Charitable Fund is donating this year due to the pandemic. based on what’s most important to them. themes vital to the success of the $1 to both the NAACP Legal Defense and community: Educational Fund Inc. and Feeding America for WORD Force: An early-childhood game-based every mile teammates bike, walk, or run, up literacy initiative sponsored by Truist for to $1 million. elementary children grades K – 2. Impact Report 2020 Charlotte | 4

2020 Charlotte area impact highlights Financial literacy Inspiring and building better lives and communities

When BB&T and SunTrust merged in 2019 to create Truist, we announced that Charlotte would be the home of our new corporate headquarters. We have been overwhelmed by the warm reception and support we have 15,093 647 received from the Charlotte community. We are committed to contributing to our new home, its organizations, High school students Client employees and its residents as much as we can. Together, we know we can make an even greater impact. participating in participating in Truist Momentum Foundations program in Community giving and impact Charlotte-based companies 8 that participated in Truist $7M $174M $76,000 1,204 North Carolina Momentum Local community and client companies Total giving Community Volunteer hours in metro development sports sponsorships in trained in Truist 3 logged by Charlotte 1 2 the Metrolina region Momentum Charlotte area loans teammates

United Way 686 Even before the end of 2020, our inaugural United Way Giving Campaign as Affordable housing 433 Truist in Charlotte more than doubled the units created, Childhood literacy prior year’s donations. retained, or Trees planted at Parkside and education improved through Elementary School and Mallard Truist support4 Creek High School with financial support from Truist COVID-19 response 787 $47.4M K-2 students reached by 751 WORD Force in North Carolina Investment in Teammates supported affordable housing 25+ Lighthouse Projects since Truist was formed in the Charlotte area 107,000 in December 20195 $45,600 $2.9M Metrolina jobs saved by Gift-in-kind donations as part Truist Cares6 Truist Paycheck Protection of Truist Leadership Institute Program (PPP) efforts Diversity, equity, and inclusion public school principal program

to fund laptops 19 $830M $100,000 for 735 students $250,000 Donated to Johnson C. Smith Seed funding to establish Charlotte K-12 public school leaders in PPP dollars to small One of the leading University as part of enterprise- chapter of Black Girls CODE, the Charlotte area involved businesses in the PPP lenders in wide effort to support historically providing innovative technology in the Leadership Institute’s Metrolina region the state7 Black colleges and universities education for African American girls principal program Impact Report 2020 Charlotte | 5

We have multiple signature programs to support the needs of communities, clients, teammates, neighbors, those in Caring need, and our many stakeholders across the regions we serve.

Increasing Supporting those in need lending capacity

Truist Cares Small business support CornerSquare during the COVID-19 2020 Truist Cares The funding for this new nonprofit will be 6 pandemic $2.9M initiatives in Metrolina allocated to racially and ethnically diverse When the pandemic began, Truist small business owners, women, and These grants include: enacted a three-pronged approach to individuals in low- and moderate-income for the Foundation For support small businesses: communities, with a focus on African $1.8M The American-owned small businesses. Outreach for the Charlotte- Made thousands of calls to small CornerSquare partner operating in $1M Mecklenburg COVID-19 businesses to see how we could help. North Carolina: Response Fund Advice for Charlotte Knights Gave advice on technology needs, $75K Charities Inc. including cybersecurity and strategic planning. for Families First in $25K Cabarrus County Lending Helping our Made loans to clients that needed neighbors immediate help, a critical element in Paycheck Protection keeping many small businesses afloat. Program (PPP) Loans Lighthouse Project Over $250,000 donated to local arts Truist extended 4,780 PPP loans to and culture organizations that felt Some 2020 projects that Truist teammates small businesses in Metrolina with an the impact immediately from stay-at- organized with local organizations through average loan size of $173,698. home restrictions. our annual Lighthouse Project include:

Roof Above/Second Harvest Food Bank Making 100 lunch bags and donating them to the local food bank Investing in our communities Beds for Kids Collecting care packages and donations

$45.7M in community development investments in the Charlotte MSA8 Backpack Buddies Preparing backpacks with care packages $54.2M in Truist giving in the state of North Carolina9 for students Impact Report 2020 Charlotte | 6

Committed

In order to be successful, individuals must have their basic needs met. We want to make sure the individuals in our communities are equipped with housing and essentials so they can focus on other things, like spending time with one another.

Securing Promoting health Building Teaching basic needs and wellness affordable homes valuable skills Samaritan’s Feet $2.8M for the National American Heart $47.4M Center on Institutions and Truist works with Samaritan’s Feet, Association Heart Walk investment in affordable housing since Alternatives (NCIA) which provides new shoes and Oct. 11, 2020 Truist was formed in Dec. 2019 other key items to kids in need. Through vocational training centers, As the lead investor in the new All recipients get a “Hope Tote” in participation, with 28 teams NCIA helps previously incarcerated #1 Housing Impact Fund (HIF), Truist drawstring book bag with a new pair and homeless individuals get back on has committed $15 million to a $58 of athletic shoes, socks, a hygiene kit, track by enrolling them in vocational #1 with 14,586,907 steps million initiative that aims to preserve an encouraging “Hope Note” written training and removing barriers to 1,500 apartments as affordable by a Truist teammate, and a flyer gainful employment. in number of walkers, with housing by 2022.10 with ways to show kindness and best #2 311 individuals NCIA’s sustainable funding model practices for staying healthy. The fund will leverage this investment braids together private grants, state and other resources to preserve On Oct. 3, 2020, Truist and contracts, and federal dollars. Our over in donations housing for families earning less than Samaritan’s Feet joined forces to serve $20K grant funding of nearly $2.8 million 80% of the region’s median income 2,000+ students in Charlotte, , will be the private matching dollars and a dedicated portion for families and DaIlas. It’s part of our nationwide needed to scale this program from two below 30% median income. effort to serve 4,000 individuals cities to six, starting with Charlotte. through Samaritan’s Feet.

Our investment will help provide safe, stable, and affordable homes Truist gave $978,000 to support “ for 1,500 families to live and raise their children in. We’re honored to partner with the HIF leadership team and the fund’s partners to health care and well-being address the affordable housing crisis in Charlotte and live out our needs in Charlotte this year. purpose to inspire and build better lives and communities. — Kelly King, Truist CEO “ Impact Report 2020 Charlotte | 7

Inclusive

Truist has always been committed to inclusion. But events in 2020 have prompted us to do more to strengthen and accelerate our efforts. Our Diversity, Equity, and Inclusion (DE&I) initiatives are designed to ensure that Truist reflects the diversity of the communities that we serve and that we are working to bridge our nation’s economic equity gap. We donated $100,000 to Johnson C. Smith University as part of our enterprisewide HBCU support.

Opening Sharing Bringing people Investing in doors knowledge together inclusion

Diversity among Multicultural Banking and Business DEI Commitment our suppliers Bank on Your Success Resource Groups (BRGs) $5.5M Our supplier diversity team ensures Multicultural Banking takes the diversity, Our eight BRGs provide insights, Launch of the new Truist Diversity, Equity, that we include qualified minority- and equity, and inclusion concept to the educate our company, and foster and Inclusion web page on truist.com plus women-owned businesses in our sourcing clients we serve in our many multicultural a sense of belonging for diverse a multimillion dollar commitment in 2020 opportunities, with a goal of achieving at communities. groups, such as veterans, people to organizations that advocate for equity as least 10% of overall supplier spending in • +4.3% growth in the number of with disabilities, minorities, and part of our enterprisewide philanthropic DEI our overall Truist footprint with certified multicultural households using our efforts. These contributions include: businesses—minority, women, disabled, many others. Multicultural Banking program in the veteran, LGBTQ+, and small business. Racial justice Metrolina region last year. Number of Truist BRG events scheduled for 2020 $1 million to the NAACP Legal Defense and Of our top 10 diverse vendors, Bank on Your Success, a part of our 44 across North Carolina Educational Fund Inc. two are located in Charlotte. Multicultural Banking group, is a financial knowledge program being shared across Spotlight on a Charlotte BRG event: $250,000 to the National Organization of Across our footprint: all Truist regions. In February, Truist participated in Black Law Enforcement Executives • $3,000 to assist women-owned • In the Metrolina region, 99 Bank on the Human Rights Campaign North Economic empowerment business enterprises with their diversity Your Success sessions in 2019 and 14 Carolina Dinner and Auction, an $1.5 million to the Black Business Capital re-certifications through the Greater in 2020 despite COVID-19 restrictions. annual event that celebrates the Financing Corporation, the financial arm of Women’s Business Council, which progress achieved toward LGBTQ the Black Business Investment Fund serves , North Carolina, and equality across the nation, honoring $1 million to U.S. Black Chambers Inc. . Increasing local leadership excellence. The Education • $10,000 to the National Minority connectivity event is one of the largest annual Supplier Development Council’s “In LGBTQ fundraising events in the $1.2 million to 12 HBCUs to bridge $1.5 million to the Community Education This Together” campaign to assist technology gaps and support students in Alliance to increase connectivity to 2,100 state, and we are proud to support it. minority-owned business enterprises the wake of the pandemic underserved households in the state of with rebuilding and obtaining capital. North Carolina, as well as in Florida and $250,000 to Black Girls CODE to support • Offering complimentary Truist their work to provide technology education Leadership Institute workshops for for African American girls in Charlotte diverse businesses. Impact Report 2020 Charlotte | 8

Successful

We know that education is empowering. At Truist, we are committed to contributing to childhood literacy and Removing barriers financial education. By offering financial support, donating our time, and providing the tools needed for success, we E2D are proud to support Charlotte in promoting the education Remote learning has been almost impossible for of future generations. students without computers, so Truist partnered with the nonprofit organization E2D to get almost 300 of our company’s refurbished laptops to first and second grade students at Hidden Valley Elementary School. Building financial confidence E2D stands for “eliminate the digital divide” and runs laptop refurbishment labs led by high school students Financial Foundations in Mecklenburg County. E2D’s mission is to ensure A high school financial education program sponsored by that every student in North Carolina has affordable Truist. In the Charlotte MSA, we have reached 141 schools. access to at-home technology and digital literacy training to support academic success.

This program has changed the way I think about paying for college. Before this program, I had no Truist Cares grant helps close “idea how I was going to pay for college, but now I digital divide for 2,100 students learned that I have multiple options before I apply Because remote learning is more challenging for a student loan. In the end, doing this program for some, teams from Truist, Hotwire, and Dell has taught me many things and has changed my collaborated to create The Home Page Program. The perspective on how I will use my money in the future. program gave free Dell Chromebooks, Wi-Fi access, — student in Union County, North Carolina “ and ongoing support to 2,100 students and their families in East Spencer, North Carolina. Students received backpacks with a Chromebook, notebook, headphones, and school supplies, as well Enhancing childhood literacy as access to a special website with school resources and activities to encourage learning, such as WORD WORD Force Force, thanks to our partnership with EVERFI. At Truist, we believe education is the foundation on which better lives and better communities are built. WORD Force is a learning game sponsored by Truist that is proven to help Fostering leadership skills strengthen children’s reading skills in elementary school.

Six Charlotte-area schools are using WORD Force. LEGACY Across North Carolina, 41 schools are using the program. This narrative-driven role-playing game teaches players leadership skills. Truist has partnered with various youth programs, including all three Girl Scout Councils in North Carolina, to introduce For more information about the full footprint of Truist and our current community work, please visit: them to the game. Launched in fall 2013, the app is available for free on the App Store and Google Play. Truist 2019 Corporate Social Truist Foundation Responsibility Report We held our first virtual LEGACY program this fall, Truist Diversity, Equity, and which was hosted by the Peaks to Piedmont Council. Truist website Inclusion site Impact Report 2020 Charlotte | 9

ENDNOTES Unless otherwise stated, all numbers are from January 1 through September 30, 2020.

1. Overall giving in Charlotte, including the Truist Foundation, donor- advised fund, and Community Reinvestment Act (CRA) funds, as well as the Metrolina regional contributions made through the office of the regional president.

2. Loans qualified as having a community development purpose, meeting the regulatory definition for affordable housing, economic development, revitalization, or community services.

3. Sponsorship agreements made through the office of the Metrolina regional president; this is not included in the “Total giving in Metro Charlotte area” number.

4. Affordable housing units created, retained, or improved through Truist CRA-qualified loans and investments made through September 30, 2020.

5. Investment in affordable housing through Truist Community Capital since Truist was formed in December 2019.

6. Truist Cares commitments in the Metrolina region from a combination of the Truist Charitable Fund and the Truist Foundation.

7. Truist was one of the leading PPP lenders in the state of North Carolina as of August 8, 2020.

8. Community development-qualified investments are instruments with ROI, not grants, which support affordable housing, economic development, provision of community services, and community revitalization.

9. Total giving in the state of North Carolina from the Truist Foundation and the donor-advised fund; this number excludes CRA grants.

10. Recent investment in HIF closed after September 30, 2020.

Note: These are estimates as systems and infrastructure come together for centralized tracking. In addition, some numbers are rounded.