First Horizon National : 1Q19 FHN Earnings Presentation

First Horizon National Corporation

First Quarter 2019 Earnings

April 16, 2019

Portions of this presentation use non-GAAP financial information. Each of those portions is so noted, and a reconciliation of that non-GAAP information to comparable GAAP information is provided in a footnote or in the appendix at the end of this presentation. Annualized, pro forma, projected and estimated numbers are used for illustrative purpose only, are not forecasts and may not reflect actual results. This presentation also includes certain non-GAAP financial measures related to "tangible common equity" and certain financial measures excluding notable items, including merger-related charges. Notable items include certain revenue or expense items that may occur in a reporting period which management does not consider indicative of ongoing financial performance. Management believes it is useful for the investment community to consider financial metrics with and without notable items in order to enable a better understanding of company results, facilitate comparability of period-to-period financial results, and to evaluate and forecast those results. Although FHN has procedures in place to ensure that these measures are calculated using the appropriate GAAP or regulatory components, they have limitations as analytical tools and should not be considered in isolation, or as a substitute for analysis of results under GAAP. For more information on these calculations and to view the reconciliations to the most comparable GAAP measures, please refer to the appendix of this presentation.

This presentation contains forward-looking statements, which may include guidance, involving significant risks and uncertainties which will be identified by words such as "believe","expect","anticipate","intend","estimate", "should","is likely","will","going forward" and other expressions that indicate future events and trends and may be followed by or reference cautionary statements. A number of factors could cause actual results to differ materially from those in the forward-looking statements. These factors are outlined in our recent earnings and other press releases and in more detail in the most current 10-Q and 10-K. FHN disclaims any obligation to update any such forward-looking statements or to publicly announce the result of any revisions to any of the forward-looking statements to reflect future events or developments.

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1Q19 Highlights

Delivering on Key Strategic Priorities

Loan Growth	Broad-based C&I Growth
Deposit Growth	Strong deposit gathering
	in TN, Mid-Atlantic, & FL
Positive	Revenues up, good
Operating Leverage	expense discipline
Higher Fixed Income	Pre-Tax Income up
	$8mm LQ, with ADR up
	48%
Net Charge-Offs	7 bps
Capital Deployment	Total payout ratio at 97%

(All comparisons are 1Q19 vs 4Q18)	1Q19
EPS	$0.31	+3%
Adjusted EPS2	$0.35	-
Revenue	$436mm	+6%
Adjusted Revenue2	$436mm	+3%
Net Income1	$99mm	+3%
Adjusted Net Income1,2	$113mm	-
ROTCE	14.2%	+37bps
Adjusted ROTCE2	16.1%	-5bps
Avg. Total Loans	$27.3B	+1%
Avg. Total Deposits	$32.5B	+2%

LQ - Linked Quarter. All comparisons are 1Q19 vs 4Q18, unless otherwise noted. All Deposit and Loan growth metrics are calculated with period-end balances, unless otherwise noted. 1Net Income is	3
defined as Net Income Available to Common Shareholders (NIAC). 2Adjusted Net Income (Adjusted NIAC), Adjusted EPS, ROTCE, and Adjusted ROTCE are Non-GAAP numbers that are reconciled in the
appendix. Adjusted numbers exclude notable items as outlined in the appendix.

Delivering on Key Strategic Priorities

Dominate Tennessee

•TN Deposit growth of 11% LQ annualized

•TN Loan growth of 4% LQ annualized

Profitably Grow Key Markets & Specialty Areas

•Deposits up 15% inMid-Atlantic and South Florida LQ annualized

•Specialty lending growth of 14% LQ annualized

Optimize The Expense Base

•Targeting $50mm+ of savings to largely reinvest in technology and revenue production

Deploy Capital Effectively

•Tangible book value growth of 3% LQ

•Total payout ratio at 97%

￮Share buybacks of $52mm in 1Q19

￮Increased quarterly dividend from $0.12 to $0.14 per common share

All comparisons are 1Q19 vs 4Q18, unless otherwise noted. All Deposit and Loan growth metrics are calculated with period-end balances, unless otherwise noted. LQ - Linked Quarter.

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FINANCIAL RESULTS

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