Huntington Bancshares Incorporated : 2024 Second Quarter Investor Presentation

Welcome.®

2024 Second Quarter

Investor Presentation

May 23, 2024

The Huntington National Bank is Member FDIC. ®,

Huntington® and Huntington. Welcome.® are federally registered service marks of Huntington Bancshares Incorporated. ©2024 Huntington Bancshares Incorporated.

Disclaimer

CAUTION REGARDING FORWARD‐LOOKING STATEMENTS

The information contained or incorporated by reference in this presentation contains certain forward‐looking statements, including, but not limited to, certain plans, expectations, goals, projections, and statements, which are not historical facts and are subject to numerous assumptions, risks, and uncertainties. Statements that do not describe historical or current facts, including statements about beliefs and expectations, are forward‐looking statements. Forward‐looking statements may be identified by words such as expect, anticipate, believe, intend, estimate, plan, target, goal, or similar expressions, or future or conditional verbs such as will, may, might, should, would, could, or similar variations. The forward‐looking statements are intended to be subject to the safe harbor provided by Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and the Private Securities Litigation Reform Act of 1995. While there is no assurance that any list of risks and uncertainties or risk factors is complete, below are certain factors which could cause actual results to differ materially from those contained or implied in the forward‐looking statements: changes in general economic, political, or industry conditions; deterioration in business and economic conditions, including persistent inflation, supply chain issues or labor shortages, instability in global economic conditions and geopolitical matters, as well as volatility in financial markets; the impact of pandemics and other catastrophic events or disasters on the global economy and financial market conditions and our business, results of operations, and financial condition; the impacts related to or resulting from bank failures and other volatility, including potential increased regulatory requirements and costs, such as FDIC special assessments, long‐term debt requirements and heightened capital requirements, and potential impacts to macroeconomic conditions, which could affect the ability of depository institutions, including us, to attract and retain depositors and to borrow or raise capital; unexpected outflows of uninsured deposits which may require us to sell investment securities at a loss; changing interest rates which could negatively impact the value of our portfolio of investment securities; the loss of value of our investment portfolio which could negatively impact market perceptions of us and could lead to deposit withdrawals; the effects of social media on market perceptions of us and banks generally; cybersecurity risks; uncertainty in U.S. fiscal and monetary policy, including the interest rate policies of the Federal Reserve; volatility and disruptions in global capital and credit markets; movements in interest rates; competitive pressures on product pricing and services; success, impact, and timing of our business strategies, including market acceptance of any new products or services including those implementing our "Fair Play" banking philosophy; the nature, extent, timing, and results of governmental actions, examinations, reviews, reforms, regulations, and interpretations, including those related to the Dodd‐Frank Wall Street Reform and Consumer Protection Act and the Basel

1. regulatory capital reforms, as well as those involving the OCC, Federal Reserve, FDIC, and CFPB; and other factors that may affect the future results of Huntington. Additional factors that could cause results to differ materially from those described above can be found in Huntington's Annual Report on Form 10‐K for the year ended December 31, 2023 and Quarterly Reports on Form 10‐Q for the quarters ended March 31, 2024, June 30, 2023, and September 30, 2023 which are on file with the Securities and Exchange Commission (the "SEC") and available in the "Investor Relations" section of Huntington's websitehttp://www.huntington.com, under the heading "Publications and Filings" and in other documents Huntington files with the SEC.

All forward‐looking statements speak only as of the date they are made and are based on information available at that time. Huntington does not assume any obligation to update forward‐looking statements to reflect circumstances or events that occur after the date the forward‐looking statements were made or to reflect the occurrence of unanticipated events except as required by federal securities laws. As forward‐looking statements involve significant risks and uncertainties, caution should be exercised against placing undue reliance on such statements.

2024 First Quarter Investor Presentation

2

Table of Contents

Huntington Overview	4
Strategy	9
Position of Strength	9
Commercial Banking Overview	12
Consumer & Regional Banking Overview	15
2024 Management Focus	18

Financial Update	19
1Q24 Financial Performance	20
2024 Outlook	21
Income Statement
Net Interest Income	22
Noninterest Income	23
Noninterest Expense	25
Balance Sheet
Loans and Leases	26
Deposits	29
Liquidity
Securities Portfolio	34
Diversified Sources of Liquidity	35

Capital

Capital Positioning	36
Balance Sheet Management	37
CET1 Comparison	39

Credit Overview	40
Asset Quality & Reserve	41
CRE Overview	42
Multi‐family Overview	44
Leveraged Lending	45
Auto Overview	46
Auto Credit Performance	47

Appendix	48
Basis of Presentation	49
Non‐GAAP Reconciliations	51
Notes	56

2024 First Quarter Investor Presentation

3

Overview

Huntington: A Purpose‐Driven Company

OUR PURPOSE	OUR VISION
We make people's lives	To be the leading
better, help businesses	People‐First,
thrive, and strengthen the	Digitally Powered Bank
communities we serve

Purpose and Vision Linked to Business Strategies

Guided by Through‐the‐Cycle Aggregate Moderate‐to‐Low Risk Appetite

2024 First Quarter Investor Presentation

5

Leading Midwest Regional Bank with Scaled, National Businesses

$194B	$153B	$123B	+ 1.3%	26 bps
Assets	Deposits	Loans and Leases	YoY Loan Growth	NCO Ratio LTM
	Established Market Leadership				Compelling Results

Industry Leading Consumer and Business Franchise	MSA's Top 5 Deposit	 Top 20 U.S. Bank
#1	#1	•	3.2 million	Rank6	by deposits
69%
	consumer checking
JD Power	SBA Lender		households		54%	 Top‐tier total loss
Mobile App	Nationally	•
5 Years	6 Years	Stable, high quality			absorbing capacity
in a row1	in a row2		deposit base
		•	Leading brand	HBAN	Peers	with 12.0% CET1
		(Reported and Adjusted for ACL)

Scaled National Commercial Franchise

Diversified Businesses

Consumer / Commercial

• Strong base of

4x	Leading	operating deposits
Increase to	Asset	• #5 Equipment	44%	Loans		Core 41%
Commercial	Finance	Finance	4	and	56%	59% Deposits
Bank Size3	Businesses			Leases

• Top 5 Franchise Lender5

• Distinguished brand, talent, and culture
• Strong risk and credit management through the cycle

Note: All stats as of 1Q24 (EOP) unless otherwise noted	2024 First Quarter Investor Presentation
See notes on slide 56

6

Winning with Differentiation

Culture		Brand		Technology &		Growth
		Innovation		Opportunities

•	Top‐tier Talent	•	Trust and NPS
•	Colleagues are	•	Local Model
	our Brand	•	Expertise and
•	Passion for
	Capabilities

Customers,

Communities, and

Service

• Award Winning Digital
• Continuous Launch of Disruptive Products
• Agile Development Roadmaps

• Strategic Growth Initiatives
• TCF Revenue Synergies
• Executive Team with Track Record of Successful Execution

2024 First Quarter Investor Presentation

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Key Messages

1. Executing organic growth strategies, leveraging position of strength, supported by robust liquidity and capital base
   Delivering loan growth and sustaining momentum in deposit gathering with a
2. well‐managed beta

3	Driving sequential net interest income and fee income expansion from first quarter trough,
benefitting from loan growth and strategic investments

Rigorously managing credit quality, supported by disciplined client selection, underwriting,

1. and portfolio management, aligned with our aggregate moderate‐to‐low risk appetite
2. Powering earnings expansion throughout 2024 with further acceleration into 2025

2024 First Quarter Investor Presentation

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Operating from a Position of Strength

CapitalCredit

CET1 + ACL

ACL

% of Loans

12.0%

1.97%

Peer

Peer

11.7%

1.66%

Median

Median

Adj.

NCO

CET1(1)

Since 4Q21

Peer 1

Peer 5

Peer 2

Peer 10

0.17%

Peer 3

8.5%

Peer 9

Peer 4

Peer 3

Peer 7

Peer 1

Peer 6

Peer 6

Peer 5

Peer 2

Peer 8

Peer 4

Peer 9

Peer 7

Peer 10

Peer 8

Deposits /

Liquidity

Deposit Growth

Since 4Q21

+5.2%

Peer ‐7.0%(2)

Median

Liquidity(3) as % of Uninsured Deposits

205%

Peer 6

Peer 5

Peer 9

Peer 10

Peer 3

Peer 7

Peer 1

Peer 4

Peer 8

Peer 2

Peers include CFG, CMA, FITB, KEY, MTB, PNC, RF, TFC, USB, ZION
Data as of 1Q24 unless otherwise noted; See notes on slide 56	2024 First Quarter Investor Presentation

9

Capitalizing on Position of Strength

Loan Growth	Deposit Growth	Capital &	Credit
YoY (EOP)	YoY (EOP)	Liquidity	Quality

$1.6B

$7.9B

Adj. CET1(1)

ACL:

+1.3%

+5.5%

8.5%

1.97%

4.3% CAGR

Core Deposits +4.9%

205% Uninsured

Net Charge Offs

(1Q22‐1Q24)

Deposit Coverage

0.30%

Executing

Core

Strategies

• Sustaining new customer acquisition momentum with consumer primary bank relationship (PBR) growth of 2% and business PBR of 4% YoY
• Seizing opportunities to attract talented bankers in new verticals and capabilities, including fund finance, healthcare ABL, and Native American financial services
• Acquiring full banking relationships of loans, deposits, and fee‐based revenues, with pipelines continuing to scale in
  Carolinas markets
• Bolstering Commercial Banking presence in Texas through Middle Market led expansion
• Powering fee revenue opportunities across capital markets, payments, and wealth management

Building on Position of Strength

• Dynamically managing our balance sheet hedging program to protect capital and margin across multiple scenarios
• Maintaining robust liquidity position with sustained core deposit growth driven by acquiring and deepening of primary bank relationships
• Rigorously managing credit aligned with aggregate moderate‐to‐low risk appetite, resulting in one of the lowest CRE concentrations and one of the highest credit reserves of like‐sized US regional banks(2)

See reconciliations on slide 57 (CET1)	2024 First Quarter Investor Presentation
See notes on slide 56

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