First Horizon (FHN) 8-K Completion of Acquisition or Disposition of Assets

NII and NIM reflect benefit of merger and deposit pricing discipline ($s in millions) NII and NIM Trends • NII up $227 million QoQ driven by the $223 million Legacy FHN $532 impact of the IBKC merger . Reported NII includes loan accretion impact of $311 $44 million; $38 million from IBKC and $6 million $303 $301 $305 $476$454 from other acquisitions $294 $296 $294 . 3Q20 securities premium amortization negatively $284 impacted NII by $22 million and NIM by 12 bps 3.26% . Reported NIM includes accretion impact of 3.21% 3.16% 20 bps 2.90% 2.84% . NIM negatively impacted ~12 bps by ~$3 billion of excess cash; period-end excess cash of 3Q19 4Q19 1Q20 2Q20 3Q20 ~$4.5 billion Interest-bearing deposit costs of 36 bps improved 1 • Core NIM 3.14% 3.10% 3.07% 2.80% 2.69% 2 bps QoQ and 21 bps from 2Q20 combined2 levels Core NII¹ Reported NII Reported NIM . Continue to target last zero interest-rate policy (ZIRP) cycle IBD costs of 24 bps 3Q20 Reported to Core Reconciliation $s in millions NII Margin 3Q20 Reported $ 532 2.84 % PPP Loans and Fees 26 0.00 Current Period Loan Accretion 44 0.23 Time Deposit Amortization 8 0.04 Securities Premium Amortization (22) (0.12) 3Q20 Core $ 476 2.69 % Estimated IBKC Securities Premium Amortization3 Estimated IBKC Loan Accretion Estimated Loan Accretion - Other Acquisitions $s in millions $s in millions $s in millions 4Q20 $ 18 4Q20 $ 25 4Q20 $ 5 2021 55 2021 60 2021 20 2022 35 2022 50 2022 15 2023 and beyond $ 70 2023 and beyond $ 90 2023 and beyond $ 10 1Core financial measures for 3Q19, 4Q19, 1Q20, and 2Q20 are Non-GAAP and are reconciled to GAAP measures in the appendix to the FHN Third Quarter 2020 Earnings presentation filed on 10/23/2020. 2Combined financial information adds together historical unaudited information 1 from legacy FHN and legacy IBKC, adjusted for notable items but without any adjustments, eliminations, or analysis required by GAAP purchase accounting or the SEC’s pro-forma rules; it is Non-GAAP and reconciled to GAAP measures in the appendix to the FHN Third Quarter 2020 Earnings presentation filed on 10/23/2020. 3Estimated based on market rates and prepayment assumptions as of 9/30/2020.