PNFPP

• Pinnacle's focus is on producing strong above-peer revenue, earnings per share, and tangible book value growth, with clear strategies and plans for execution.
• Committed to exceptional client service and industry-leading loyalty, as verified by external sources like Crystal Coalition Greenwich and J. D. Power.
• Aim to be the employer of choice in the region by fostering a collaborative, empowered, and rewarding culture to attract and retain revenue producers.
• Merger between Pinnacle and Synovus completed on January 1, with both organizations successfully completing key milestones over the past two quarters.
• Team has started executing across all elements of the proven Pinnacle operating model, such as bringing legacy Synovus team members into money morning sales and service meeting series.
• Thoughtfully combining strengths of Synovus and Pinnacle, building on similar legacies and shared values, and remaining true to what sets them apart, with Pinnacle's operating model as the foundation for growth.

• Loan growth: Expect period end loans to grow to $91,000,000,000 to $93,000,000,000 in 2026, up 9% to 11% versus combined loans at year end 2025; 35% of growth to come from financial advisers hired in past three years, 35% from specialty verticals, and remainder from legacy market growth.
• Deposit growth: Expect total deposits to grow to $106,500,000,000 to $108,500,000,000 in 2026, up 8% to 10% driven by recruiting, core commercial client growth, and momentum from specialty deposit verticals.
• Adjusted revenue: Outlook is $5,000,000,000 in 2026.
• Net interest margin: Estimated in the 3.45% to 3.55% range, assuming purchase accounting balance sheet marks and fixed rate asset repricing benefits, offset by balance sheet liquidity increase and interest rate cuts.
• Adjusted noninterest revenue: Approximately $1,100,000,000 in 2026, driven by continued execution in areas like treasury management, capital markets, and wealth management, and $125 to $135,000,000 in BHG investment income.
• Adjusted noninterest expense: Expected to be $2,700,000,000 to $2,800,000,000 in 2026, with 40% or $100,000,000 of annualized merger related expense savings realized in 2026.
• Credit metrics: Estimated net charge offs in the range of 20 to 25 basis points in 2026.
• Capital: Target a common equity Tier one ratio of 10.25% to 10.75%; quarterly common equity dividend of $0.50 per share starting in first quarter; board authorized a $400,000,000 common share repurchase program.

Pinnacle Financial Partners

• Adjusted EPS: $2.24 in fourth quarter, stable quarter over quarter, up 18% from prior year.
• Net interest income: Increased 3% from third quarter and 12% year over year.
• Balance sheet growth: Period end loans grew 3% from prior quarter and 10% year over year; core deposit growth was 3% quarter over quarter and 10% year over year.
• Net interest margin: Increased one basis point to 3.27%.
• Adjusted noninterest revenue: Declined 6% from third quarter but jumped 25% year over year.
• Adjusted noninterest expense: Stable quarter over quarter, up 13% year over year.
• Credit metrics: Net charge offs $27,000,000 or 28 basis points; CET1 ratio ended at 10.88%.

Synovus

• Adjusted diluted EPS: $1.45 in fourth quarter, stable quarter over quarter, increased 16% year over year.
• Net interest income: Increased 2% quarter over quarter and 7% year over year.
• Balance sheet growth: Period end loan growth $872,000,000 or 2% from prior quarter and 5% from previous year; core deposits grew $895,000,000 or up 2% quarter over quarter.
• Net interest margin: Continued to expand, up four basis points sequentially to 3.45%.
• Adjusted non-interest revenue: Grew 6% from prior quarter and 16% year over year to $144,000,000.
• Adjusted noninterest expense: Increased 2% from third quarter and was up 5% year over year.
• Credit metrics: Net charge offs $24,000,000 or 22 basis points; common equity Tier one ratio ended the year at an all-time high of 11.28%.
• Hiring: Both Pinnacle and Synovus continued to hire new team members in the fourth quarter, with 41 new revenue producers, bringing the total to 217 for both firms together in 2025.

• Integration challenges related to systems, which could potentially impact client experience.
• Interest rate fluctuations that may affect the net interest margin.
• Economic uncertainty leading to changes in loan demand.
• Risk of not achieving recruitment targets, which could hinder growth.
• Credit risk, such as higher-than-expected net charge offs.

Q: Ebrahim Poonawala asked about what the combined bank can't do today but will be able to do a year from now post conversion and how they're handling new banker hiring and onboarding systems.

A: Kevin Blair responded that existing systems don't encumber new business origination or share of wallet growth; when onboarding complex clients in 2026, they'll be onboarded onto the end state platform; for new team members, they'll be onboarded onto relevant legacy platforms with workarounds to ensure good client experience.

Q: Ebrahim Poonawala followed up on the $400,000,000 buyback authorization and when they might initiate buybacks.

A: Jamie Gregory replied that they would like to buy back stock but will accrete capital for a time period to avoid screening at the low end of peer groups; unlikely to see share repurchases this quarter, and will reassess later in the year.

Q: John Pancari asked about confidence in achieving loan growth projection given competitive backdrop and CapEx related demand.

A: Kevin Blair stated that their production goals are based on a bottoms-up forecasting of individual revenue producers' contributions, not dependent on economic growth; they see constructive client sentiment and have workarounds like higher hold limits to generate incremental loan growth.

Q: John Pancari asked about the delay in cost save recognition and risk of future delay in recognition.

A: Jamie Gregory explained that the delay was due to the quick merger close pushing back some systems, and it's a timing difference, but they feel good about achieving synergies in the long run.

Q: Jared Shaw asked about how quickly higher hold limits flow through and contribution from existing legacy markets to loan growth drivers.

A: Kevin Blair said higher hold limits can happen immediately, and they'll communicate with clients to generate incremental loan growth, considering it part of the contribution from existing legacy markets.

Q: Ben Gurlinger asked about expansion of hires geographically and opportunity for revenue producers.

A: Kevin Blair and Terry Turner responded that there's opportunity across the nine state footprint, with the biggest opportunity being creating a great place to work to attract and retain bankers, who become the biggest recruiters.

Q: Bernard Von Jaszczyki asked about updates on NIM and revenue synergies timeline.

A: Jamie Gregory said the margin is expected to be in the 3.45% to 3.55% range considering mark-to-market of assets, and revenue synergies start today and will be incorporated into 2026 guidance.

Q: Michael Rose asked about higher hold limits color and outlook for specialty businesses.

A: Kevin Blair said higher hold limits give more capacity to clients, and specialty businesses like equipment finance and asset based lending will generate a large percentage of growth through joint calling efforts.

Q: Catherine Mealor asked about deposit cost and updated thoughts on deposit beta.

A: Kevin Blair and Jamie Gregory responded that deposit costs are coming down, with Sunnova side around $3.14, and they expect continued reduction; blended deposit beta is expected to be 45% to 50% for 2026 considering the forward curve.

Q: Casey Haire asked about recruiting strategy success rate and pipeline for 250 hires in 2026.

A: Terry Turner and Kevin Blair said the success rate remained similar, and the pipeline is building as legacy Synovus team starts exercising the hiring process.

Q: Anthony Elian asked about updated loan mark assumptions and deposit beta.

A: Jamie Gregory responded that loan marks are shifted to longer duration loans, and deposit beta is expected to be 45% to 50% for 2026 considering the forward curve.

Q: John McDonald asked about long term earnings power and credit provisioning.

A: Kevin Blair and Jamie Gregory discussed the long term promise of the merger and that credit provisioning is expected to stay stable with normal allowance to loan ratio.

Q: David Chiaverini asked about loan growth acceleration through the year and loan pricing changes.

A: Jamie Gregory said loan growth is expected to accelerate with mid to high single digit in first half and high single to low double digit in second half; loan pricing saw about a 10 basis point decline in spreads.

Q: Christopher Marinac asked about deposit incentives for the combined company.

A: Kevin Blair stated that everyone is incented on the company's top of house goals related to revenue growth and EPS growth, with no individual deposit incentives focused on filling buckets.