Huntington Bancshares Incorporated : 2022 Fourth Quarter Investor Presentation

Welcome.®

2022 Fourth Quarter

Earnings Review

January 20, 2023

The Huntington National Bank is Member FDIC.®, Huntington® and Huntington. Welcome.® are federally registered service marks of Huntington Bancshares Incorporated. ©2023 Huntington Bancshares Incorporated.

Disclaimer

CAUTION REGARDING FORWARD-LOOKING STATEMENTS

This communication 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; the magnitude and duration of the COVID-19 pandemic and related variants and mutations and their impact on the global economy and financial market conditions and our business, results of operations, and financial condition; uncertainty in U.S. fiscal and monetary policy, including the interest rate policies of the Federal Reserve Board; volatility and disruptions in global capital and credit markets; movements in interest rates; reform of LIBOR; 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 III regulatory capital reforms, as well as those involving the OCC, Federal Reserve, FDIC, and CFPB; the possibility that the anticipated benefits of the transaction with TCF are not realized when expected or at all, including as a result of the impact of, or problems arising from, the integration of the two companies or as a result of the strength of the economy and competitive factors in the areas where Huntington does business; 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, 2021, and in its subsequent Quarterly Reports on Form 10-Q for the quarters ended March 31, 2022, June 30, 2022, and September 30, 2022, each of which is on file with the Securities and Exchange Commission (the "SEC") and available in the "Investor Relations" section of Huntington's website http://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.

2022 Fourth Quarter Earnings Review

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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

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Key Messages

Finished 2022 with fourth consecutive quarter of record PPNR, and record full

1. year revenue; results driven by focused and disciplined execution on strategic growth initiatives and acquisition synergies
   Delivered full year diversified loan growth, ex. PPP, of 10%, funded by high quality
2. deposit base which grew 3% YoY with consecutive quarters of deposit growth
   Top quartile return profile and earnings power reflected in outstanding financial performance with top tier NIM and efficiency supporting achievement of medium-
3. term financial targets; full-year ROTCE of 20.7%, or 18.2% excluding the AOCI impact and Notable Items, as well as generating positive operating leverage
   Proactively taking actions to deliver for 2023 and manage through macro-
4. economic outlook; supported by solid capital levels, top tier reserve, and our disciplined aggregate moderate-to-lowrisk appetite

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Track Record of Financial Performance & Execution

Pre-Provision Net Revenue (PPNR)

		Notable Items							Notable Items
		PPNR (GAAP)			$3.2					PPNR (GAAP)		$867	$908
												$758			$15
												$10
					$0.1						$646
$2.0	$2.0	$2.3		$620	$24
							$46
				$0.7		$188
					$3.1							$734	$857		$893
											$600
				$1.6		$432
2019	2020	2021	2022				4Q21	1Q22	2Q22	3Q22		4Q22

Return on Tangible Common Equity %

		Notable Items											Notable Items
		ROTCE (GAAP)											ROTCE (GAAP)
							21.5%							Adj. ROTCE ex AOCI	22.2%	26.5%
				19.1%											20.6%
16.9%				18.2%	17.1%	26.0%
				21.9%
Covid				20.7%	19.9%
			Impacted				18.2%		18.0%		17.8%	18.6%	19.8%
			8.9%				ex-AOCI	16.4%
			11.3%
														15.8%
								13.2%
2019	2020	2021			2022					4Q21	1Q22	2Q22	3Q22	4Q22

Strategic Execution

• Adjusted PPNR growth of 36% YoY; over 900 bps of positive operating leverage
• Benefitting from acquisition synergies
• • Achieved TCF cost synergies and executing on revenue synergies
  • Closed 2 bolt-on acquisitions, expanding payments capabilities and capital markets (record capital market fees in FY22 +67% YoY)

Operating from Position of Strength

• Maintained solid credit quality with full-year net charge-offs of 0.11%
• Top tier ACL coverage ratio of 1.90%
• Solid capital position and significant capital generation power supports new share repurchase authorization of $1 billion

Awarded & Recognized Expertise

• #1 Trust, NPS and Customer Satisfaction (1)
• #1 JD Power Mobile App 4 Years in a row (2)
• Best Large Employer (Forbes)(3)

See reconciliation on slide 20 (PPNR) and slide 21-22 (ROTCE); See notes on slide 49

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