8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(D) OF

THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): July 22, 2022

REGIONS FINANCIAL CORPORATION

(Exact name of registrant as specified in its charter)

Delaware	001-34034	63-0589368
(State or other jurisdiction<br>of incorporation)	(Commission<br>File Number)	(IRS Employer<br>Identification No.)

1900 Fifth Avenue North

Birmingham, Alabama 35203

(Address, including zip code, of principal executive office)

Registrant’s telephone number, including area code: (800) 734-4667

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐	Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, $.01 par value	RF	New York Stock Exchange
Depositary Shares, each representing a 1/40th Interest in a Share of
6.375% Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series B	RF PRB	New York Stock Exchange
Depositary Shares, each representing a 1/40th Interest in a Share of
5.700% Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series C	RF PRC	New York Stock Exchange
Depositary Shares, each representing a 1/40th Interest in a Share of
4.45% Non-Cumulative Perpetual Preferred Stock, Series E	RF PRE	New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR 230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR 240.12b-2).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

Item 2.02    Results of Operations and Financial Condition.

Item 7.01    Regulation FD Disclosure.

On July 22, 2022, Regions Financial Corporation (“Regions”) issued a press release announcing its preliminary results of operations for the quarter ended June 30, 2022. A copy of the press release is attached hereto as Exhibit 99.1. Supplemental financial information for the quarter ended June 30, 2022 is attached as Exhibit 99.2. Executives from Regions will review the results via a live audio webcast at 10:00 a.m. Eastern time on July 22, 2022. A copy of a visual presentation that will be a part of that review is attached as Exhibit 99.3. All of the attached exhibits are incorporated herein by reference and may also be found on Regions’ website at www.regions.com. An archived recording of the webcast will be available for a limited time on the Investor Relations page of that website.

In accordance with general instruction B.2 of Form 8-K, this information is being furnished and shall not be deemed filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as may be expressly set forth by specific reference in any such filing.

Item 9.01    Financial Statements and Exhibits.

(d) Exhibits.

Exhibit Number	Description of Exhibit
99.1	Press Release dated July 22, 2022.
99.2	Supplemental Financial Information for the Quarter Ended June 30, 2022.
99.3	Visual Presentation of July 22, 2022.
104	Cover Page Interactive Data (embedded within the Inline XBRL document).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

REGIONS FINANCIAL CORPORATION
By:	/s/ Karin K. Allen
Name:	Karin K. Allen
Title:	Executive Vice President and Assistant Controller (Chief Accounting Officer and Authorized Officer)

Date: July 22, 2022

Document

Exhibit 99.1

Media Contact:	Investor Relations Contact:
Jeremy King	Dana Nolan
(205) 264-4551	(205) 264-7040

Solid Revenue Growth. Effective Risk Management. Regions reports second quarter 2022 earnings of $558 million, earnings per diluted share of $0.59

Delivers strong revenue and pre-tax pre-provision income(1) growth over the prior year

BIRMINGHAM, Ala. - (BUSINESS WIRE) - July 22, 2022 - Regions Financial Corp. (NYSE:RF) today reported earnings for the second quarter ended June 30, 2022. The company reported second quarter net income available to common shareholders of $558 million and earnings per diluted share of $0.59. Compared to the second quarter of 2021, strong revenue growth contributed to a 17 percent increase in pre-tax pre-provision income on a reported basis and a 19 percent increase on an adjusted basis(1). The company's second quarter adjusted pre-tax pre-provision income(1) represents its highest level on record. Compared to the second quarter of 2021, total revenue of $1.7 billion increased 10 percent on a reported basis and 12 percent on an adjusted basis(1) driven by growth in both net interest income and non-interest income. The company generated year-to-date positive operating leverage of 1.9 percent on a reported basis and 1.6 percent on an adjusted basis(1) versus the comparable prior-year period.

“Our solid second-quarter results reflect the strength of Regions’ business plan and our team’s success in executing it,” said John Turner, President and CEO of Regions Financial Corp. “The financial health of consumers and businesses in the Regions footprint continues to be good. Investments across our business groups are paying off. Strategic acquisitions completed in 2020 and 2021 are further expanding our pipelines and building revenue growth. We’re committed to keeping our customers at the center of every decision. We remain vigilant at all times with effective risk management and sound governance, and our teams have the depth of experience to guide customers through a variety of economic cycles.”

Among key performance indicators:

•Regions subsidiary Ascentium Capital’s production for the first half of 2022 is up 31 percent year-over-year with pipelines remaining strong.

•Regions subsidiary Sabal Capital Partners has closed $500 million in loans year-to-date, with full-year volume expected to increase by approximately 11 percent.

•Regions subsidiary Clearsight Advisors is on track to exceed full-year expectations and heads into the second half of the year with a robust pipeline.

•Regions’ SBA lending is on target to grow full-year 2022 production by 45 percent compared to pre-pandemic levels.

•Regions has increased its number of Treasury Management clients by 14 percent year-over-year.

•EnerBank grew loans by approximately 7 percent in the second quarter compared to the previous quarter. The merger of EnerBank with and into Regions Bank continues to result in the generation of high-quality consumer loans and presents further growth opportunities.

•Technology investments continue to drive a more seamless customer experience. During the second quarter, Regions launched a digital advisor tool from Regions Investment Solutions that gives emerging and experienced investors an effective online option for managing portfolios while receiving personalized support.

•Digital continues to support a better banking experience with an 8 percent increase specifically in mobile users in 2Q22 compared to 2Q21.

•Regions’ balance sheet remains strong, deliberately positioned to withstand a variety of economic conditions.

•Overall asset quality continued to improve during the second quarter with most metrics remaining well below historical levels. The company has a robust credit risk management framework and a disciplined and dynamic approach to managing concentration risk. Together, these factors position Regions to weather changing economic environments while delivering consistent, sustainable long-term performance.

SUMMARY OF SECOND QUARTER 2022 RESULTS:

	Quarter Ended
(amounts in millions, except per share data)	6/30/2022		3/31/2022		6/30/2021
Net income	$	583	$	548	$	790
Preferred dividends and other*	25		24		42
Net income available to common shareholders	$	558	$	524	$	748
Weighted-average diluted shares outstanding	940		947		965
Actual shares outstanding—end of period	934		933		955
Diluted earnings per common share	$	0.59	$	0.55	$	0.77
Selected items impacting earnings:
Pre-tax adjusted items(1):
Adjustments to non-interest expense(1)	$	6	$	(1)	$	(3)
Adjustments to non-interest income(1)	—		1		19
Total pre-tax adjusted items(1)	$	6	$	—	$	16
After-tax preferred stock redemption expense(1)*	$	—	$	—	$	(13)
Diluted EPS impact**	$	—	$	—	$	—
Pre-tax additional selected items***:
CECL provision (in excess of) less than net charge-offs	$	(22)	$	82	$	384
Capital markets income - CVA/DVA	20		6		(4)
Residential MSR net hedge performance	11		(5)		(6)
PPP loan interest income****	8		12		43
Ginnie Mae re-securitization gains	—		12		—

*        The second quarter 2021 amount includes $13 million of Series A preferred stock issuance costs, which reduced net income available to common shareholders when the shares were redeemed.

**        Based on income taxes at an approximate 25% incremental rate.

***     Items impacting results or trends during the period, but are not considered non-GAAP adjustments. These items generally include market-related measures, impacts of new accounting guidance, or event driven actions.

****    Interest income for the Small Business Administration's Paycheck Protection Program (PPP) loans includes estimated funding costs.

Non-GAAP adjusted items(1) impacting the company's earnings are identified to assist investors in analyzing Regions' operating results on the same basis as that applied by management and provide a basis to predict future performance. Non-GAAP adjusted items(1) in the current quarter had minimal impact.

Total revenue

	Quarter Ended
($ amounts in millions)	6/30/2022			3/31/2022			6/30/2021			2Q22 vs. 1Q22				2Q22 vs. 2Q21
Net interest income	$	1,108		$	1,015		$	963		$	93	9.2	%	$	145	15.1	%
Taxable equivalent adjustment	11			11			12			—		—	%	(1)		(8.3)	%
Net interest income, taxable equivalent basis	$	1,119		$	1,026		$	975		$	93	9.1	%	$	144	14.8	%
Net interest margin (FTE)	3.06		%	2.85		%	2.81		%
Adjusted net interest margin (FTE) (non-GAAP)(1)	3.44		%	3.43		%	3.31		%
Non-interest income:
Service charges on deposit accounts	$	165		$	168		$	163		(3)		(1.8)	%	2		1.2	%
Card and ATM fees	133			124			128			9		7.3	%	5		3.9	%
Wealth management income	102			101			96			1		1.0	%	6		6.3	%
Capital markets income	112			73			61			39		53.4	%	51		83.6	%
Mortgage income	47			48			53			(1)		(2.1)	%	(6)		(11.3)	%
Commercial credit fee income	23			22			23			1		4.5	%	—		—	%
Bank-owned life insurance	16			14			33			2		14.3	%	(17)		(51.5)	%
Securities gains (losses), net	—			—			1			—		—	%	(1)		(100.0)	%
Market value adjustments on employee benefit assets*	(17)			(14)			8			(3)		(21.4)	%	(25)		(312.5)	%
Other	59			48			53			11		22.9	%	6		11.3	%
Non-interest income	$	640		$	584		$	619		$	56	9.6	%	$	21	3.4	%
Total revenue	$	1,748		$	1,599		$	1,582		$	149	9.3	%	$	166	10.5	%
Adjusted total revenue (non-GAAP)(1)	$	1,748		$	1,598		$	1,563		$	150	9.4	%	$	185	11.8	%

NM - Not Meaningful

* These market value adjustments relate to assets held for employee benefits that are offset within salaries and employee benefits expense.

Total revenue of approximately $1.7 billion represented an increase of 9 percent on both a reported and adjusted basis(1) compared to the first quarter of 2022. Net interest income grew 9 percent compared to the first quarter, benefiting from increases in interest rates, average loan growth and securities purchases. Lower cash balances supported the net interest margin, which increased 21 basis points to 3.06 percent. Excluding the impact of PPP interest income and excess cash balances held at the Federal Reserve, the company's adjusted net interest margin(1) was 3.44 percent.

Non-interest income increased 10 percent on both a reported and an adjusted basis(1) compared to the first quarter of 2022. Capital markets income increased $39 million. Excluding the impact of CVA/DVA, capital markets income increased $25 million driven primarily by higher fees from merger and acquisition advisory services and real estate loan syndications. Card & ATM fees increased 7 percent primarily due to increased transactions and higher spend volumes in the quarter. Service charges, mortgage income, and wealth management income remained relatively stable from the prior quarter. Seasonally higher mortgage production overcame approximately $12 million in gains associated with previously repurchased Ginnie Mae loans sold during the prior quarter. Excluding those gains, mortgage income increased 31 percent. Other non-interest income increased $11 million primarily due to cash distributions associated with equity previously obtained from a customer's bankruptcy. Additionally, market value adjustments on employee benefit assets that are offset in salaries and benefits remained elevated this quarter.

Non-interest expense

	Quarter Ended
($ amounts in millions)	6/30/2022		3/31/2022		6/30/2021		2Q22 vs. 1Q22				2Q22 vs. 2Q21
Salaries and employee benefits	$	575	$	546	$	532	$	29	5.3	%	$	43	8.1	%
Equipment and software expense	97		95		89		2		2.1	%	8		9.0	%
Net occupancy expense	75		75		75		—		—	%	—		—	%
Outside services	38		38		39		—		—	%	(1)		(2.6)	%
Professional, legal and regulatory expenses	24		17		15		7		41.2	%	9		60.0	%
Marketing	22		24		29		(2)		(8.3)	%	(7)		(24.1)	%
FDIC insurance assessments	13		14		11		(1)		(7.1)	%	2		18.2	%
Credit/checkcard expenses	13		26		17		(13)		(50.0)	%	(4)		(23.5)	%
Branch consolidation, property and equipment charges	(6)		1		—		(7)		NM		(6)		NM
Visa class B shares expense	9		5		6		4		80.0	%	3		50.0	%
Other	88		92		85		(4)		(4.3)	%	3		3.5	%
Total non-interest expense	$	948	$	933	$	898	$	15	1.6	%	$	50	5.6	%
Total adjusted non-interest expense(1)	$	954	$	932	$	895	$	22	2.4	%	$	59	6.6	%

NM - Not Meaningful

Non-interest expense increased 2 percent on both a reported and adjusted basis(1) compared to the first quarter of 2022. Salaries and benefits increased 5 percent driven primarily by higher base salaries due to annual merit increases, which became effective on April 1, 2022, as well as elevated variable-based and incentive compensation. These increases were partially offset by seasonal decreases in payroll taxes and 401(k) expenses.

The company's second quarter efficiency ratio was 53.9 percent on a reported basis and 54.2 percent on an adjusted basis(1). The effective tax rate was 21.2 percent.

Loans and Leases

	Average Balances
($ amounts in millions)	2Q22		1Q22		2Q21		2Q22 vs. 1Q22				2Q22 vs. 2Q21
Commercial and industrial	$	46,538	$	43,993	$	43,140	$	2,545	5.8	%	$	3,398	7.9%
Commercial real estate—owner-occupied	5,477		5,506		5,634		(29)		(0.5)	%	(157)		(2.8)%
Investor real estate	7,428		7,082		7,282		346		4.9	%	146		2.0%
Business Lending	59,443		56,581		56,056		2,862		5.1	%	3,387		6.0%
Residential first mortgage	17,569		17,496		16,795		73		0.4	%	774		4.6%
Home equity	6,082		6,163		6,774		(81)		(1.3)	%	(692)		(10.2)%
Consumer credit card	1,145		1,142		1,108		3		0.3	%	37		3.3%
Other consumer—exit portfolios	836		987		1,599		(151)		(15.3)	%	(763)		(47.7)%
Other consumer	5,689		5,445		2,219		244		4.5	%	3,470		156.4%
Consumer Lending	31,321		31,233		28,495		88		0.3	%	2,826		9.9%
Total Loans	$	90,764	$	87,814	$	84,551	$	2,950	3.4	%	$	6,213	7.3%

NM - Not meaningful.

Average loans and leases increased 3 percent compared to the prior quarter driven primarily by growth in commercial and industrial lending. Average business lending increased 5 percent reflecting broad-based growth in corporate, middle market, and real estate lending across the company's diversified and specialized portfolios. While still below pre-pandemic levels, commercial loan line utilization levels ended the quarter at approximately 44.4 percent, increasing 50 basis points over the prior quarter. Loan production remains strong with loan commitment growth of approximately $5.5 billion during the quarter. Average consumer lending increased modestly mostly attributable to residential first mortgage and other consumer credit, which includes EnerBank, partially offset by lower home equity and consumer exit portfolios.

Deposits

	Average Balances
($ amounts in millions)	2Q22		1Q22		2Q21		2Q22 vs. 1Q22			2Q22 vs. 2Q21
Customer low-cost deposits	$	133,992	$	132,829	$	126,315	$	1,163	0.9%	$	7,677	6.1%
Customer time deposits	5,600		5,905		4,813		(305)		(5.2)%	787		16.4%
Corporate treasury time deposits	—		—		1		—		NM	(1)		(100.0)%
Corporate treasury other deposits	—		—		3		—		NM	(3)		(100.0)%
Total Deposits	$	139,592	$	138,734	$	131,132	$	858	0.6%	$	8,460	6.5%
($ amounts in millions)	2Q22		1Q22		2Q21		2Q22 vs. 1Q22			2Q22 vs. 2Q21
Consumer Bank Segment	$	85,224	$	83,054	$	78,200	$	2,170	2.6%	$	7,024	9.0%
Corporate Bank Segment	41,920		42,609		42,966		(689)		(1.6)%	(1,046)		(2.4)%
Wealth Management Segment	10,020		10,407		9,519		(387)		(3.7)%	501		5.3%
Other	2,428		2,664		447		(236)		(8.9)%	1,981		443.2%
Total Deposits	$	139,592	$	138,734	$	131,132	$	858	0.6%	$	8,460	6.5%

Total average deposit balances increased 1 percent in the second quarter of 2022 as continued growth in Consumer deposits was partially offset by declines in Corporate and Wealth Management. While average deposit balances grew, ending balances declined reflecting a return to seasonal second quarter patterns related to income tax payments seen prior to the pandemic, as well as some expected attrition within Corporate and Wealth Management beginning late in the quarter.

Asset quality

	As of and for the Quarter Ended
($ amounts in millions)	6/30/2022	3/31/2022	6/30/2021
ACL/Loans, net	1.62%	1.67%	2.00%
ALL/Loans, net	1.52%	1.59%	1.90%
Allowance for credit losses to non-performing loans, excluding loans held for sale	410%	446%	253%
Allowance for loan losses to non-performing loans, excluding loans held for sale	386%	423%	240%
Provision for (benefit from) credit losses	$60	$(36)	$(337)
Net loans charged-off	$38	$46	$47
Net loans charged-off as a % of average loans, annualized	0.17%	0.21%	0.23%
Non-performing loans, excluding loans held for sale/Loans, net	0.39%	0.37%	0.79%
NPAs (ex. 90+ past due)/Loans, foreclosed properties, and non-performing loans held for sale	0.41%	0.39%	0.93%
NPAs (inc. 90+ past due)/Loans, foreclosed properties, and non-performing loans held for sale*	0.52%	0.53%	1.09%
Total Criticized Loans—Business Services**	$2,310	$2,539	$3,222

* Excludes guaranteed residential first mortgages that are 90+ days past due and still accruing.

** Business services represents the combined total of commercial and investor real estate loans.

Overall asset quality remained strong during the second quarter; however, strong loan growth drove a modest increase to the allowance for credit losses. The resulting allowance for credit losses was equal to 1.62 percent of total loans and 410 percent of total non-performing loans, excluding loans held for sale. Annualized net charge-offs decreased 4 basis points to 0.17 percent of average loans. Total non-performing loans, excluding loans held for sale, increased modestly but remain below pre-pandemic levels, while total business services criticized loans and total delinquencies improved. Overall asset quality continues to reflect broad-based strength across most commercial and consumer loan portfolios, as well as elevated recoveries associated with strong collateral asset values.

Capital and liquidity

	As of and for Quarter Ended
	6/30/2022	3/31/2022	6/30/2021
Common Equity Tier 1 ratio(2)	9.2%	9.4%	10.4%
Tier 1 capital ratio(2)	10.6%	10.8%	11.9%
Tangible common stockholders’ equity to tangible assets (non-GAAP)(1)	5.76%	5.93%	7.58%
Tangible common book value per share (non-GAAP)(1)*	$9.55	$10.06	$11.94
Loans, net of unearned income, to total deposits	67.6%	63.3%	63.9%

* Tangible common book value per share includes the impact of quarterly earnings and changes to market value adjustments within accumulated other comprehensive income, as well as continued capital returns.

Regions maintains a solid capital position with estimated capital ratios remaining well above current regulatory requirements. The Tier 1(2) and Common Equity Tier 1(2) ratios were estimated at 10.6 percent and 9.2 percent, respectively, at quarter-end.

The company received its results from the Federal Reserve Supervisory Stress Test and exceeded all minimum capital levels under the provided scenarios. As a result, Regions' preliminary Stress Capital Buffer requirement will remain floored at 2.5 percent. Regions' robust capital planning process is designed to ensure the efficient use of capital to support lending activities, business growth opportunities and appropriate shareholder returns.

During the second quarter, the company also repurchased 1 million shares of common stock for a total of $15 million through open market purchases and declared $159 million in dividends to common shareholders. Earlier this week, the Board of Directors declared a quarterly common stock dividend of $0.20 per share, an 18 percent increase over the previous quarter.

(1)Non-GAAP; refer to pages 6, 7, 11, 12, 13 and 23 of the financial supplement to this earnings release for reconciliations.

(2)Current quarter Common Equity Tier 1, and Tier 1 capital ratios are estimated.

Conference Call

In addition to the live audio webcast at 10 a.m. ET on July 22, 2022, an archived recording of the webcast will be available at the Investor Relations page of www.regions.com following the live event.

About Regions Financial Corporation

Regions Financial Corporation (NYSE:RF), with $161 billion in assets, is a member of the S&P 500 Index and is one of the nation’s largest full-service providers of consumer and commercial banking, wealth management, and mortgage products and services. Regions serves customers across the South, Midwest and Texas, and through its subsidiary, Regions Bank, operates approximately 1,300 banking offices and more than 2,000 ATMs. Regions Bank is an Equal Housing Lender and Member FDIC. Additional information about Regions and its full line of products and services can be found at www.regions.com.

Forward-Looking Statements

This release may include forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not based on historical information, but rather are related to future operations, strategies, financial results or other developments. Forward-looking statements are based on management’s current expectations as well as certain assumptions and estimates made by, and information available to, management at the time the statements are made. Those statements are based on general assumptions and are subject to various risks, and because they also relate to the future they are likewise subject to inherent uncertainties and other factors that may cause actual results to differ materially from the views, beliefs and projections expressed in such statements. Therefore, we caution you against relying on any of these forward-looking statements. These risks, uncertainties and other factors include, but are not limited to, those described below:

•Current and future economic and market conditions in the United States generally or in the communities we serve (in particular the Southeastern United States), including the effects of possible declines in property values, increases in unemployment rates, financial market disruptions and potential reductions of economic growth, which may adversely affect our lending and other businesses and our financial results and conditions.

•Possible changes in trade, monetary and fiscal policies of, and other activities undertaken by, governments, agencies, central banks and similar organizations, which could have a material adverse effect on our earnings.

•Possible changes in market interest rates or capital markets could adversely affect our revenue and expense, the value of assets and obligations, and the availability and cost of capital and liquidity.

•The impact of pandemics, including the ongoing COVID-19 pandemic, on our businesses, operations, and financial results and conditions. The duration and severity of any pandemic, including the COVID-19 pandemic, could disrupt the global economy, adversely affect our capital and liquidity position, impair the ability of borrowers to repay outstanding loans and increase our allowance for credit losses, impair collateral values, and result in lost revenue or additional expenses.

•Any impairment of our goodwill or other intangibles, any repricing of assets, or any adjustment of valuation allowances on our deferred tax assets due to changes in tax law, adverse changes in the economic environment, declining operations of the reporting unit or other factors.

•The effect of new tax legislation and/or interpretation of existing tax law, which may impact our earnings, capital ratios, and our ability to return capital to shareholders.

•Possible changes in the creditworthiness of customers and the possible impairment of the collectability of loans and leases, including operating leases.

•Changes in the speed of loan prepayments, loan origination and sale volumes, charge-offs, credit loss provisions or actual credit losses where our allowance for credit losses may not be adequate to cover our eventual losses.

•Possible acceleration of prepayments on mortgage-backed securities due to low interest rates, and the related acceleration of premium amortization on those securities.

•Loss of customer checking and savings account deposits as customers pursue other, higher-yield investments, which could increase our funding costs.

•Possible changes in consumer and business spending and saving habits and the related effect on our ability to increase assets and to attract deposits, which could adversely affect our net income.

•Our ability to effectively compete with other traditional and non-traditional financial services companies, including fintechs, some of whom possess greater financial resources than we do or are subject to different regulatory standards than we are.

•Our inability to develop and gain acceptance from current and prospective customers for new products and services and the enhancement of existing products and services to meet customers’ needs and respond to emerging technological trends in a timely manner could have a negative impact on our revenue.

•Our inability to keep pace with technological changes, including those related to the offering of digital banking and financial services, could result in losing business to competitors.

•Changes in laws and regulations affecting our businesses, including legislation and regulations relating to bank products and services, as well as changes in the enforcement and interpretation of such laws and regulations by applicable governmental and self-regulatory agencies, including as a result of the changes in U.S. presidential administration, control of the U.S. Congress, and changes in personnel at the bank regulatory agencies, which could require us to change certain business practices, increase compliance risk, reduce our revenue, impose additional costs on us, or otherwise negatively affect our businesses.

•Our capital actions, including dividend payments, common stock repurchases, or redemptions of preferred stock, must not cause us to fall below minimum capital ratio requirements, with applicable buffers taken into account, and must comply with other requirements and restrictions under law or imposed by our regulators, which may impact our ability to return capital to shareholders.

•Our ability to comply with stress testing and capital planning requirements (as part of the CCAR process or otherwise) may continue to require a significant investment of our managerial resources due to the importance of such tests and requirements.

•Our ability to comply with applicable capital and liquidity requirements (including, among other things, the Basel III capital standards), including our ability to generate capital internally or raise capital on favorable terms, and if we fail to meet requirements, our financial condition and market perceptions of us could be negatively impacted.

•The effects of any developments, changes or actions relating to any litigation or regulatory proceedings brought against us or any of our subsidiaries.

•The costs, including possibly incurring fines, penalties, or other negative effects (including reputational harm) of any adverse judicial, administrative, or arbitral rulings or proceedings, regulatory enforcement actions, or other legal actions to which we or any of our subsidiaries are a party, and which may adversely affect our results.

•Our ability to manage fluctuations in the value of assets and liabilities and off-balance sheet exposure so as to maintain sufficient capital and liquidity to support our businesses.

•Our ability to execute on our strategic and operational plans, including our ability to fully realize the financial and nonfinancial benefits relating to our strategic initiatives.

•The risks and uncertainties related to our acquisition or divestiture of businesses, including our recently completed acquisitions of EnerBank, Sabal, and Clearsight, and risks related to such acquisitions, including that the expected synergies, cost savings and other financial or other benefits may not be realized within the expected timeframes, or might be less than projected; difficulties in integrating the businesses; and the inability of Regions to effectively cross-sell products following these acquisitions.

•The success of our marketing efforts in attracting and retaining customers.

•Our ability to recruit and retain talented and experienced personnel to assist in the development, management and operation of our products and services may be affected by changes in laws and regulations in effect from time to time.

•Fraud or misconduct by our customers, employees or business partners.

•Any inaccurate or incomplete information provided to us by our customers or counterparties.

•Inability of our framework to manage risks associated with our businesses, such as credit risk and operational risk, including third-party vendors and other service providers, which could, among other things, result in a breach of operating or security systems as a result of a cyber attack or similar act or failure to deliver our services effectively.

•Dependence on key suppliers or vendors to obtain equipment and other supplies for our businesses on acceptable terms.

•The inability of our internal controls and procedures to prevent, detect or mitigate any material errors or fraudulent acts.

•The effects of geopolitical instability, including wars, conflicts, civil unrest, and terrorist attacks and the potential impact, directly or indirectly, on our businesses.

•The effects of man-made and natural disasters, including fires, floods, droughts, tornadoes, hurricanes, and environmental damage (specifically in the Southeastern United States), which may negatively affect our operations and/or our loan portfolios and increase our cost of conducting business. The severity and frequency of future earthquakes, fires, hurricanes, tornadoes, droughts, floods and other weather-related events are difficult to predict and may be exacerbated by global climate change.

•Changes in commodity market prices and conditions could adversely affect the cash flows of our borrowers operating in industries that are impacted by changes in commodity prices (including businesses indirectly impacted by commodities prices such as businesses that transport commodities or manufacture equipment used in the production of commodities), which could impair their ability to service any loans outstanding to them and/or reduce demand for loans in those industries.

•Our ability to identify and address cyber-security risks such as data security breaches, malware, ransomware, “denial of service” attacks, “hacking” and identity theft, including account take-overs, a failure of which could disrupt our businesses and result in the disclosure of and/or misuse or misappropriation of confidential or proprietary information, disruption or damage to our systems, increased costs, losses, or adverse effects to our reputation.

•Our ability to achieve our expense management initiatives.

•Market replacement of LIBOR and the related effect on our LIBOR-based financial products and contracts, including, but not limited to, derivative products, debt obligations, deposits, investments, and loans.

•Possible downgrades in our credit ratings or outlook could, among other negative impacts, increase the costs of funding from capital markets.

•The effects of problems encountered by other financial institutions that adversely affect us or the banking industry generally could require us to change certain business practices, reduce our revenue, impose additional costs on us, or otherwise negatively affect our businesses.

•The effects of the failure of any component of our business infrastructure provided by a third party could disrupt our businesses, result in the disclosure of and/or misuse of confidential information or proprietary information, increase our costs, negatively affect our reputation, and cause losses.

•Our ability to receive dividends from our subsidiaries, in particular Regions Bank, could affect our liquidity and ability to pay dividends to shareholders.

•Changes in accounting policies or procedures as may be required by the FASB or other regulatory agencies could materially affect our financial statements and how we report those results, and expectations and preliminary analyses relating to how such changes will affect our financial results could prove incorrect.

•Fluctuations in the price of our common stock and inability to complete stock repurchases in the time frame and/or on the terms anticipated.

•The effects of anti-takeover and exclusive forum laws and provision in our certificate of incorporation and bylaws.

•The effects of any damage to our reputation resulting from developments related to any of the items identified above.

•Other risks identified from time to time in reports that we file with the SEC.

The foregoing list of factors is not exhaustive. For discussion of these and other factors that may cause actual results to differ from expectations, look under the captions “Forward-Looking Statements” and “Risk Factors” of Regions’ Annual Report on Form 10-K for the year ended December 31, 2021 and the "Risk Factors" of Regions' Quarterly Report on Form 10-Q for the quarter ended March 31, 2022, as filed with the SEC.

Forward-looking statements are subject to the risk that the actual effects may differ, possibly materially, from what is reflected in those forward-looking statements due to factors and future developments that are uncertain, unpredictable and in many cases beyond our control, including the scope and duration of the COVID-19 pandemic (including the impact of additional variants and resurgences), the effectiveness, availability and acceptance of any vaccines or therapies, and the direct and indirect impact of the COVID-19 pandemic on our customers, third parties and us.

The words “future,” “anticipates,” “assumes,” “intends,” “plans,” “seeks,” “believes,” “predicts,” “potential,” “objectives,” “estimates,” “expects,” “targets,” “projects,” “outlook,” “forecast,” “would,” “will,” “may,” “might,” “could,” “should,” “can,” and similar terms and expressions often signify forward-looking statements. You should not place undue reliance on any forward-looking statements, which speak only as of the date made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible to predict all of them. We assume no obligation and do not intend to update or revise any forward-looking statements that are made from time to time, either as a result of future developments, new information or otherwise, except as may be required by law.

Use of non-GAAP financial measures

Management uses pre-tax pre-provision income (non-GAAP) and adjusted pre-tax pre-provision income (non-GAAP), as well as the adjusted efficiency ratio (non-GAAP) and the adjusted fee income ratio (non-GAAP) to monitor performance and believes these measures provide meaningful information to investors. Non-interest expense (GAAP) is presented excluding certain adjustments to arrive at adjusted non-interest expense (non-GAAP), which is the numerator for the adjusted efficiency ratio. Non-interest income (GAAP) is presented excluding certain adjustments to arrive at adjusted non-interest income (non-GAAP), which is the numerator for the adjusted fee income ratio. Adjusted non-interest income (non-GAAP) and adjusted non-interest expense (non-GAAP) are used to determine adjusted pre-tax pre-provision income (non-GAAP). Net interest income (GAAP) on a taxable-equivalent basis and non-interest income are added together to arrive at total revenue on a taxable-equivalent basis. Adjustments are made to arrive at adjusted total revenue on a taxable-equivalent basis (non-GAAP), which is the denominator for the adjusted fee income and adjusted efficiency ratios. Regions believes that the exclusion of these adjustments provides a meaningful basis for period-to-period comparisons, which management believes will assist investors in analyzing the operating results of the Company and predicting future performance. These non-GAAP financial measures are also used by management to assess the performance of Regions’ business. It is possible that the activities related to the adjustments may recur; however, management does not consider the activities related to the adjustments to be indications of ongoing operations. Regions believes that presentation of these non-GAAP financial measures will permit investors to assess the performance of the Company on the same basis as that applied by management.

The allowance for credit losses (ACL) as a percentage of total loans is an important ratio, especially during periods of economic stress. Management believes this ratio provides investors with meaningful additional information about credit loss allowance levels when the impact of SBA's Paycheck Protection Program loans, which are fully backed by the U.S. government, and any related allowance are excluded from total loans and total allowance which are the denominator and numerator, respectively, used in the ACL ratio. This adjusted ACL ratio represents a non-GAAP financial measure.

Tangible common stockholders’ equity ratios have become a focus of some investors and management believes they may assist investors in analyzing the capital position of the Company absent the effects of intangible assets and preferred stock. Analysts and banking regulators have assessed Regions’ capital adequacy using the tangible common stockholders’ equity measure. Because tangible common stockholders’ equity is not formally defined by GAAP or prescribed in any amount by federal banking regulations it is currently considered to be a non-GAAP financial measure and other entities may calculate it differently than Regions’ disclosed calculations. Since analysts and banking regulators may assess Regions’ capital adequacy using tangible common stockholders’ equity, management believes that it is useful to provide investors the ability to assess Regions’ capital adequacy on this same basis.

Non-GAAP financial measures have inherent limitations, are not required to be uniformly applied and are not audited. Although these non-GAAP financial measures are frequently used by stakeholders in the evaluation of a company, they have limitations as analytical tools, and should not be considered in isolation, or as a substitute for analyses of results as reported under GAAP. In particular, a measure of earnings that excludes selected items does not represent the amount that effectively accrues directly to stockholders.

Management and the Board of Directors utilize non-GAAP measures as follows:

•Preparation of Regions' operating budgets

•Monthly financial performance reporting

•Monthly close-out reporting of consolidated results (management only)

•Presentation to investors of company performance

•Metrics for incentive compensation

Regions’ Investor Relations contact is Dana Nolan at (205) 264-7040; Regions’ Media contact is Jeremy King at (205) 264-4551.

11

Document

Exhibit 99.2

Regions Financial Corporation and Subsidiaries

Financial Supplement (unaudited)

Second Quarter 2022

Regions Financial Corporation and Subsidiaries

Financial Supplement (unaudited) to Second Quarter 2022 Earnings Release

Table of Contents

	Page
Financial Highlights	1
Selected Ratios and Other Information*	2
Consolidated Statements of Income	3
Consolidated Average Daily Balances and Yield / Rate Analysis*	5
Pre-Tax Pre-Provision Income ("PPI") and Adjusted PPI*	7
Non-Interest Income, Mortgage Income, Wealth Management Income and Capital Markets Income	8
Non-Interest Expense	10
Reconciliation of GAAP Financial Measures to non-GAAP Financial Measures*
Adjusted Efficiency Ratios, Adjusted Fee Income Ratios, Adjusted Non-Interest Income / Expense, Adjusted Operating Leverage Ratios, and Return Ratios	11
Credit Quality
Allowance for Credit Losses, Net Charge-Offs and Related Ratios	14
Non-Accrual Loans (excludes loans held for sale), Early and Late Stage Delinquencies	16
Consolidated Balance Sheets	17
Loans	18
Deposits	21
Reconciliation of GAAP Financial Measures to non-GAAP Financial Measures*
Tangible Common Ratios	23
Forward-Looking Statements	24

*Use of non-GAAP financial measures

Regions believes that presentation of non-GAAP financial measures provides a meaningful basis for period to period comparisons, which management believes will assist investors in assessing the performance of the Company on the same basis as that applied by management. Non-GAAP financial measures have inherent limitations, are not required to be uniformly applied and are not audited. Although non-GAAP financial measures are frequently used by stakeholders in the evaluation of a company, they have limitations as analytical tools, and should not be considered in isolation, or as a substitute for analyses of results as reported under GAAP. In particular, a measure of earnings that excludes certain adjustments does not represent the amount that effectively accrues directly to shareholders. Additionally, our non-GAAP financial measures may not be comparable to similar non-GAAP financial measures used by other companies.

Regions Financial Corporation and Subsidiaries

Financial Supplement (unaudited) to Second Quarter 2022 Earnings Release

Financial Highlights

	Quarter Ended
($ amounts in millions, except per share data)	6/30/2022			3/31/2022			12/31/2021			9/30/2021			6/30/2021
Earnings Summary
Interest income - taxable equivalent	$	1,166		$	1,063		$	1,066		$	1,017		$	1,018
Interest expense - taxable equivalent	47			37			37			41			43
Net interest income - taxable equivalent	1,119			1,026			1,029			976			975
Less: Taxable-equivalent adjustment	11			11			10			11			12
Net interest income	1,108			1,015			1,019			965			963
Provision for (benefit from) credit losses	60			(36)			110			(155)			(337)
Net interest income after provision for (benefit from) credit losses	1,048			1,051			909			1,120			1,300
Non-interest income	640			584			615			649			619
Non-interest expense	948			933			983			938			898
Income before income taxes	740			702			541			831			1,021
Income tax expense	157			154			103			180			231
Net income	$	583		$	548		$	438		$	651		$	790
Net income available to common shareholders	$	558		$	524		$	414		$	624		$	748
Weighted-average shares outstanding—during quarter:
Basic	934			938			949			955			958
Diluted	940			947			958			962			965
Earnings per common share - basic	$	0.60		$	0.56		$	0.44		$	0.65		$	0.78
Earnings per common share - diluted	$	0.59		$	0.55		$	0.43		$	0.65		$	0.77
Balance Sheet Summary
At quarter-end
Loans, net of unearned income	$	93,458		$	89,335		$	87,784		$	83,270		$	84,074
Allowance for credit losses	(1,514		)	(1,492		)	(1,574		)	(1,499		)	(1,684		)
Assets	160,908			164,082			162,938			156,153			155,610
Deposits	138,263			141,022			139,072			132,039			131,484
Long-term borrowings	2,319			2,343			2,407			2,451			2,870
Shareholders' equity	16,507			16,982			18,326			18,605			18,252
Average balances
Loans, net of unearned income	$	90,764		$	87,814		$	86,548		$	83,350		$	84,551
Assets	161,826			161,728			160,051			155,630			154,678
Deposits	139,592			138,734			136,682			131,897			131,132
Long-term borrowings	2,328			2,390			2,433			2,774			2,901
Shareholders' equity	16,404			17,717			18,308			18,453			18,000

Regions Financial Corporation and Subsidiaries

Financial Supplement (unaudited) to Second Quarter 2022 Earnings Release

Selected Ratios and Other Information

	As of and for Quarter Ended
	6/30/2022			3/31/2022			12/31/2021			9/30/2021			6/30/2021
Return on average assets* (1)	1.44		%	1.38		%	1.09		%	1.66		%	2.05		%
Return on average common shareholders' equity*	15.18		%	13.23		%	9.86		%	14.75		%	18.35		%
Return on average tangible common shareholders’ equity (non-GAAP)* (2)	25.40		%	21.00		%	15.07		%	21.34		%	26.91		%
Efficiency ratio	53.9		%	57.9		%	59.8		%	57.7		%	56.4		%
Adjusted efficiency ratio (non-GAAP) (2)	54.2		%	57.9		%	58.8		%	56.6		%	56.9		%
Common book value per share	$	15.89		$	16.42		$	17.69		$	17.75		$	17.38
Tangible common book value per share (non-GAAP) (2)	$	9.55		$	10.06		$	11.38		$	12.32		$	11.94
Total equity to total assets	10.26		%	10.35		%	11.25		%	11.91		%	11.73		%
Tangible common shareholders’ equity to tangible assets (non-GAAP) (2)	5.76		%	5.93		%	6.83		%	7.79		%	7.58		%
Common equity (3)	$	11,298		$	10,912		$	10,844		$	11,628		$	11,190
Total risk-weighted assets (3)	$	122,169		$	116,182		$	113,343		$	108,052		$	107,943
Common equity Tier 1 ratio (3)	9.2		%	9.4		%	9.6		%	10.8		%	10.4		%
Tier 1 capital ratio (3)	10.6		%	10.8		%	11.0		%	12.3		%	11.9		%
Total risk-based capital ratio (3)	12.3		%	12.5		%	12.7		%	14.1		%	13.9		%
Leverage ratio (3)	8.2		%	8.0		%	8.1		%	8.8		%	8.6		%
Effective tax rate	21.2		%	21.9		%	18.9		%	21.7		%	22.6		%
Allowance for credit losses as a percentage of loans, net of unearned income	1.62		%	1.67		%	1.79		%	1.80		%	2.00		%
Allowance for credit losses to non-performing loans, excluding loans held for sale	410		%	446		%	349		%	283		%	253		%
Net interest margin (FTE)*	3.06		%	2.85		%	2.83		%	2.76		%	2.81		%
Adjusted net interest margin (FTE) (non-GAAP) (2) *	3.44		%	3.43		%	3.34		%	3.30		%	3.31		%
Loans, net of unearned income, to total deposits	67.6		%	63.3		%	63.1		%	63.1		%	63.9		%
Net charge-offs as a percentage of average loans*	0.17		%	0.21		%	0.20		%	0.14		%	0.23		%
Non-accrual loans, excluding loans held for sale, as a percentage of loans	0.39		%	0.37		%	0.51		%	0.64		%	0.79		%
Non-performing assets (excluding loans 90 days past due) as a percentage of loans, foreclosed properties, and non-performing loans held for sale	0.41		%	0.39		%	0.54		%	0.66		%	0.93		%
Non-performing assets (including loans 90 days past due) as a percentage of loans, foreclosed properties, and non-performing loans held for sale (4)	0.52		%	0.53		%	0.70		%	0.80		%	1.09		%
Associate headcount—full-time equivalent(5)	19,673			19,723			19,626			18,963			18,814
ATMs	2,048			2,054			2,068			2,051			2,051
Branch Statistics
Full service	1,259			1,259			1,268			1,276			1,280
Drive-through/transaction service only	35			35			34			34			33
Total branch outlets	1,294			1,294			1,302			1,310			1,313

*Annualized

(1)Calculated by dividing net income by average assets.

(2)See reconciliation of GAAP to non-GAAP Financial Measures that begin on pages 6, 7, 11, 12, 13, and 23.

(3)Current quarter Common equity as well as Total risk-weighted assets, Common equity Tier 1, Tier 1 capital, Total risk-based capital and Leverage ratios are estimated.

(4)Excludes guaranteed residential first mortgages that are 90+ days past due and still accruing. Refer to the footnotes on page 16 for amounts related to these loans.

(5)Associate headcount for the fourth quarter of 2021 includes approximately 620 associates from acquisitions closed in the quarter.

Regions Financial Corporation and Subsidiaries

Financial Supplement (unaudited) to Second Quarter 2022 Earnings Release

Consolidated Statements of Income

	Quarter Ended
($ amounts in millions, except per share data)	6/30/2022		3/31/2022		12/31/2021		9/30/2021		6/30/2021
Interest income on:
Loans, including fees	$	932	$	876	$	902	$	847	$	849
Debt securities	157		138		134		135		131
Loans held for sale	10		9		6		7		12
Other earning assets	56		29		14		17		14
Total interest income	1,155		1,052		1,056		1,006		1,006
Interest expense on:
Deposits	20		13		13		15		17
Long-term borrowings	27		24		24		26		26
Total interest expense	47		37		37		41		43
Net interest income	1,108		1,015		1,019		965		963
Provision for (benefit from) credit losses	60		(36)		110		(155)		(337)
Net interest income after provision for (benefit from) credit losses	1,048		1,051		909		1,120		1,300
Non-interest income:
Service charges on deposit accounts	165		168		166		162		163
Card and ATM fees	133		124		127		129		128
Wealth management income	102		101		100		95		96
Capital markets income	112		73		83		87		61
Mortgage income	47		48		49		50		53
Securities gains (losses), net	—		—		—		1		1
Other	81		70		90		125		117
Total non-interest income	640		584		615		649		619
Non-interest expense:
Salaries and employee benefits	575		546		575		552		532
Equipment and software expense	97		95		96		90		89
Net occupancy expense	75		75		76		75		75
Other	201		217		236		221		202
Total non-interest expense	948		933		983		938		898
Income before income taxes	740		702		541		831		1,021
Income tax expense	157		154		103		180		231
Net income	$	583	$	548	$	438	$	651	$	790
Net income available to common shareholders	$	558	$	524	$	414	$	624	$	748
Weighted-average shares outstanding—during quarter:
Basic	934		938		949		955		958
Diluted	940		947		958		962		965
Actual shares outstanding—end of quarter	934		933		942		955		955
Earnings per common share: (1)
Basic	$	0.60	$	0.56	$	0.44	$	0.65	$	0.78
Diluted	$	0.59	$	0.55	$	0.43	$	0.65	$	0.77
Taxable-equivalent net interest income	$	1,119	$	1,026	$	1,029	$	976	$	975

________

(1) Quarterly amounts may not add to year-to-date amounts due to rounding.

Regions Financial Corporation and Subsidiaries

Financial Supplement (unaudited) to Second Quarter 2022 Earnings Release

Consolidated Statements of Income (continued) (unaudited)

	Six Months Ended June 30
($ amounts in millions, except per share data)	2022		2021
Interest income on:
Loans, including fees	$	1,808	$	1,703
Debt securities	295		264
Loans held for sale	19		24
Other earning assets	85		28
Total interest income	2,207		2,019
Interest expense on:
Deposits	33		36
Long-term borrowings	51		53
Total interest expense	84		89
Net interest income	2,123		1,930
Provision for (benefit from) credit losses	24		(479)
Net interest income after provision for (benefit from) credit losses	2,099		2,409
Non-interest income:
Service charges on deposit accounts	333		320
Card and ATM fees	257		243
Wealth management income	203		187
Capital markets income	185		161
Mortgage income	95		143
Securities gains (losses), net	—		2
Other	151		204
Total non-interest income	1,224		1,260
Non-interest expense:
Salaries and employee benefits	1,121		1,078
Equipment and software expense	192		179
Net occupancy expense	150		152
Other	418		417
Total non-interest expense	1,881		1,826
Income before income taxes	1,442		1,843
Income tax expense	311		411
Net income	$	1,131	$	1,432
Net income available to common shareholders	$	1,082	$	1,362
Weighted-average shares outstanding—during year:
Basic	936		959
Diluted	943		967
Actual shares outstanding—end of period	934		955
Earnings per common share:
Basic	$	1.16	$	1.42
Diluted	$	1.15	$	1.41
Taxable-equivalent net interest income	$	2,145	$	1,953

Regions Financial Corporation and Subsidiaries

Financial Supplement (unaudited) to Second Quarter 2022 Earnings Release

Consolidated Average Daily Balances and Yield/Rate Analysis

	Quarter Ended
	6/30/2022						3/31/2022
($ amounts in millions; yields on taxable-equivalent basis)	Average Balance		Income/ Expense		Yield/ Rate (1)		Average Balance		Income/ Expense		Yield/ Rate (1)
Assets
Earning assets:
Federal funds sold and securities purchased under agreements to resell	$	—	$	—	—	%	$	2	$	—	0.18	%
Debt securities (2)	31,429		157		2.00		29,342		138		1.88
Loans held for sale	704		10		5.39		782		9		4.89
Loans, net of unearned income:
Commercial and industrial	46,538		480		4.12		43,993		447		4.10
Commercial real estate mortgage—owner-occupied	5,204		56		4.31		5,237		57		4.35
Commercial real estate construction—owner-occupied	273		2		3.85		269		3		3.91
Commercial investor real estate mortgage	5,760		39		2.69		5,514		30		2.19
Commercial investor real estate construction	1,668		14		3.34		1,568		11		2.83
Residential first mortgage	17,569		137		3.12		17,496		135		3.09
Home equity	6,082		56		3.76		6,163		55		3.55
Consumer credit card	1,145		36		12.38		1,142		35		12.48
Other consumer—exit portfolios	836		13		5.93		987		14		5.84
Other consumer	5,689		110		7.73		5,445		100		7.42
Total loans, net of unearned income	90,764		943		4.15		87,814		887		4.07
Interest bearing deposits in other banks	22,246		45		0.81		26,606		13		0.20
Other earning assets	1,445		11		2.79		1,306		16		5.02
Total earning assets	146,588		1,166		3.18		145,852		1,063		2.93
Unrealized gains/(losses) on debt securities available for sale, net (2)	(2,107)						(549)
Allowance for loan losses	(1,419)						(1,472)
Cash and due from banks	2,386						2,200
Other non-earning assets	16,378						15,697
	$	161,826					$	161,728
Liabilities and Shareholders’ Equity
Interest-bearing liabilities:
Savings	$	16,200	5		0.12		$	15,539	5		0.13
Interest-bearing checking	27,533		6		0.09		27,771		2		0.03
Money market	31,348		4		0.05		31,402		2		0.02
Time deposits	5,600		5		0.34		5,905		4		0.30
Total interest-bearing deposits (3)	80,681		20		0.10		80,617		13		0.07
Other short-term borrowings	7		—		1.01		9		—		0.16
Long-term borrowings	2,328		27		4.53		2,390		24		4.06
Total interest-bearing liabilities	83,016		47		0.22		83,016		37		0.18
Non-interest-bearing deposits (3)	58,911		—		—		58,117		—		—
Total funding sources	141,927		47		0.13		141,133		37		0.11
Net interest spread (2)					2.95						2.75
Other liabilities	3,495						2,878
Shareholders’ equity	16,404						17,717
	$	161,826					$	161,728
Net interest income /margin FTE basis (2)			$	1,119	3.06	%			$	1,026	2.85	%

_______

(1) Amounts have been calculated using whole dollar values.

(2) Debt securities are included on an amortized cost basis with yield and net interest margin calculated accordingly.

(3) Total deposit costs may be calculated by dividing total interest expense on deposits by the sum of interest-bearing deposits and non-interest bearing deposits. The rates for total deposit costs equal 0.06% for the quarter ended June 30, 2022 and 0.04% for the quarter ended March 31, 2022.

Regions Financial Corporation and Subsidiaries

Financial Supplement (unaudited) to Second Quarter 2022 Earnings Release

Consolidated Average Daily Balances and Yield/Rate Analysis (continued)

	Quarter Ended
	12/31/2021						9/30/2021						6/30/2021
($ amounts in millions; yields on taxable-equivalent basis)	Average Balance		Income/ Expense		Yield/ Rate (1)		Average Balance		Income/ Expense		Yield/ Rate (1)		Average Balance		Income/ Expense		Yield/ Rate (1)
Assets
Earning assets:
Federal funds sold and securities purchased under agreements to resell	$	1	$	—	0.18	%	$	2	$	—	0.18	%	$	9	$	—	0.13	%
Debt securities (2)	29,264		134		1.83		29,308		$	135	1.85		28,633		131		1.83
Loans held for sale	855		6		2.98		1,044		7		2.64		1,382		12		3.36
Loans, net of unearned income:
Commercial and industrial	42,254		468		4.39		41,892		464		4.38		43,140		467		4.32
Commercial real estate mortgage—owner-occupied	5,386		60		4.34		5,436		60		4.37		5,358		60		4.42
Commercial real estate construction—owner-occupied	263		3		3.95		246		2		4.14		276		3		4.05
Commercial investor real estate mortgage	5,531		30		2.13		5,605		32		2.18		5,521		30		2.19
Commercial investor real estate construction	1,654		11		2.72		1,706		12		2.72		1,761		12		2.73
Residential first mortgage	17,413		136		3.12		17,198		135		3.15		16,795		134		3.19
Home equity	6,334		55		3.51		6,523		58		3.53		6,774		60		3.52
Consumer credit card	1,155		35		12.16		1,128		35		12.19		1,108		33		12.13
Other consumer—exit portfolios	1,160		18		5.71		1,363		19		5.63		1,599		22		5.60
Other consumer	5,398		96		7.13		2,253		41		7.06		2,219		40		7.20
Total loans, net of unearned income	86,548		912		4.18		83,350		858		4.07		84,551		861		4.07
Interest bearing deposits in other banks	26,121		10		0.15		25,144		9		0.15		23,337		7		0.11
Other earning assets	1,276		4		1.41		1,303		8		2.06		1,297		7		2.20
Total earning assets	144,065		1,066		2.94		140,151		1,017		2.88		139,209		1,018		2.92
Unrealized gains/(losses) on debt securities available for sale, net (2)	331						674						627
Allowance for loan losses	(1,572)						(1,581)						(1,896)
Cash and due from banks	2,143						1,937						2,094
Other non-earning assets	15,084						14,449						14,644
	$	160,051					$	155,630					$	154,678
Liabilities and Shareholders’ Equity
Interest-bearing liabilities:
Savings	$	14,854	5		0.12		$	14,328	4		0.13		$	13,914	5		0.14
Interest-bearing checking	26,000		2		0.03		25,277		2		0.03		25,044		2		0.03
Money market	31,483		1		0.02		30,765		2		0.02		30,762		2		0.03
Time deposits	6,505		5		0.36		4,527		7		0.55		4,813		8		0.64
Other deposits	—		—		—		1		—		1.50		4		—		0.55
Total interest-bearing deposits (3)	78,842		13		0.07		74,898		15		0.08		74,537		17		0.09
Federal funds purchased and securities sold under agreements to repurchase	44		—		0.19		—		—		—		—		—		—
Long-term borrowings	2,433		24		3.93		2,774		26		3.65		2,901		26		3.59
Total interest-bearing liabilities	81,319		37		0.18		77,672		41		0.20		77,438		43		0.22
Non-interest-bearing deposits (3)	57,840		—		—		56,999		—		—		56,595		—		—
Total funding sources	139,159		37		0.11		134,671		41		0.12		134,033		43		0.13
Net interest spread (2)					2.76						2.67						2.70
Other liabilities	2,566						2,506						2,645
Shareholders’ equity	18,308						18,453						18,000
Noncontrolling interest	18						—						—
	$	160,051					$	155,630					$	154,678
Net interest income/margin FTE basis (2)			$	1,029	2.83	%			$	976	2.76	%			$	975	2.81	%

_______

(1) Amounts have been calculated using whole dollar values.

(2) Debt securities are included on an amortized cost basis with yield and net interest margin calculated accordingly.

(3) Total deposit costs may be calculated by dividing total interest expense on deposits by the sum of interest-bearing deposits and non-interest bearing deposits. The rates for total deposit costs equal 0.04% for the quarter ended December 31, 2021, 0.04% for the quarter ended September 30, 2021 and 0.05% for the quarter ended June 30, 2021.

Adjusted Net Interest Margin (non-GAAP)

Regions believes the adjusted net interest margin (non-GAAP) provides investors with meaningful additional information about Regions' performance when margin associated with the SBA's Paycheck Protection Program (PPP) loans and excess cash are excluded from net interest margin (GAAP).

	Quarter-ended
	6/30/2022		3/31/2022		12/31/2021		9/30/2021		6/30/2021
Net interest margin (FTE) (GAAP)	3.06	%	2.85	%	2.83	%	2.76	%	2.81	%
Impact of SBA PPP loans (1)	(0.01)	%	(0.02)	%	(0.09)	%	(0.05)	%	(0.05)	%
Impact of excess cash (2)	0.39	%	0.60	%	0.60	%	0.59	%	0.55	%
Adjusted net interest margin (FTE) (non-GAAP)	3.44	%	3.43	%	3.34	%	3.30	%	3.31	%

_______

(1) The impact of SBA PPP loans was determined using average PPP loan balances and the related net interest income.

(2) The impact of excess cash was determined using the average cash balance in excess of $750 million and the related net interest income. The $750 million threshold approximates the average cash balance for the four quarters preceding the outbreak of the COVID-19 pandemic.

Regions Financial Corporation and Subsidiaries

Financial Supplement (unaudited) to Second Quarter 2022 Earnings Release

Pre-Tax Pre-Provision Income ("PPI") and Adjusted PPI (non-GAAP)

The Pre-Tax Pre-Provision Income tables below present computations of pre-tax pre-provision income excluding certain adjustments (non-GAAP). Regions believes that the presentation of PPI and the exclusion of certain items from PPI provides a meaningful base for period-to-period comparisons, which management believes will assist investors in analyzing the operating results of the Company and predicting future performance. These non-GAAP financial measures are also used by management to assess the performance of Regions’ business. It is possible that the activities related to the adjustments may recur; however, management does not consider the activities related to the adjustments to be indications of ongoing operations.

	Quarter Ended
($ amounts in millions)	6/30/2022		3/31/2022		12/31/2021		9/30/2021		6/30/2021		2Q22 vs. 1Q22				2Q22 vs. 2Q21
Net income available to common shareholders (GAAP)	$	558	$	524	$	414	$	624	$	748	$	34	6.5	%	$	(190)	(25.4)	%
Preferred dividends and other (GAAP) (1)	25		24		24		27		42		1		4.2	%	(17)		(40.5)	%
Income tax expense (GAAP)	157		154		103		180		231		3		1.9	%	(74)		(32.0)	%
Income before income taxes (GAAP)	740		702		541		831		1,021		38		5.4	%	(281)		(27.5)	%
Provision for (benefit from) credit losses (GAAP)	60		(36)		110		(155)		(337)		96		266.7	%	397		117.8	%
Pre-tax pre-provision income (non-GAAP)	800		666		651		676		684		134		20.1	%	116		17.0	%
Other adjustments:
Securities (gains) losses, net	—		—		—		(1)		(1)		—		NM		1		NM
Leveraged lease termination gains, net	—		(1)		—		(2)		—		1		100.0	%	—		NM
Bank-owned life insurance (2)	—		—		—		—		(18)		—		NM		18		100.0	%
Salaries and employee benefits—severance charges	—		—		1		—		2		—		NM		(2)		(100.0)	%
Branch consolidation, property and equipment charges	(6)		1		—		—		—		(7)		NM		(6)		NM
Contribution to the Regions Financial Corporation foundation	—		—		—		—		1		—		NM		(1)		(100.0)	%
Loss on early extinguishment of debt	—		—		—		20		—		—		NM		—		NM
Professional, legal and regulatory expenses(3)	—		—		15		—		—		—		NM		—		NM
Total other adjustments	(6)		—		16		17		(16)		(6)		NM		10		62.5	%
Adjusted pre-tax pre-provision income (non-GAAP)	$	794	$	666	$	667	$	693	$	668	$	128	19.2	%	$	126	18.9	%

______

NM - Not Meaningful

(1) The second quarter 2021 amount includes $13 million of Series A preferred stock issuance costs, which reduced net income available to common shareholders when the shares were redeemed during the second quarter of 2021.

(2) The second quarter 2021 amount relates to an individual BOLI claim benefit.

(3)    Amounts are professional and legal expenses related to acquisitions.

Regions Financial Corporation and Subsidiaries

Financial Supplement (unaudited) to Second Quarter 2022 Earnings Release

Non-Interest Income

	Quarter Ended
($ amounts in millions)	6/30/2022		3/31/2022		12/31/2021		9/30/2021		6/30/2021		2Q22 vs. 1Q22				2Q22 vs. 2Q21
Service charges on deposit accounts	$	165	$	168	$	166	$	162	$	163	$	(3)	(1.8)	%	$	2	1.2	%
Card and ATM fees	133		124		127		129		128		9		7.3	%	5		3.9	%
Wealth management income	102		101		100		95		96		1		1.0	%	6		6.3	%
Capital markets income (1)	112		73		83		87		61		39		53.4	%	51		83.6	%
Mortgage income (2)	47		48		49		50		53		(1)		(2.1)	%	(6)		(11.3)	%
Commercial credit fee income	23		22		23		23		23		1		4.5	%	—		—	%
Bank-owned life insurance	16		14		14		18		33		2		14.3	%	(17)		(51.5)	%
Market value adjustments on employee benefit assets-other (3)	(17)		(14)		—		5		8		(3)		(21.4)	%	(25)		(312.5)	%
Securities gains (losses), net	—		—		—		1		1		—		—	%	(1)		(100.0)	%
Other miscellaneous income	59		48		53		79		53		11		22.9	%	6		11.3	%
Total non-interest income	$	640	$	584	$	615	$	649	$	619	$	56	9.6	%	$	21	3.4	%

Mortgage Income

	Quarter Ended
($ amounts in millions)	6/30/2022			3/31/2022			12/31/2021			9/30/2021			6/30/2021			2Q22 vs. 1Q22				2Q22 vs. 2Q21
Production and sales	$	23		$	43		$	46		$	57		$	50		$	(20)	(46.5)	%	$	(27)	(54.0)	%
Loan servicing	28			27			27			26			25			1		3.7	%	3		12.0	%
MSR and related hedge impact:
MSRs fair value increase (decrease) due to change in valuation inputs or assumptions	52			47			(6)			(3)			(38)			5		10.6	%	90		236.8	%
MSRs hedge gain (loss)	(41)			(52)			1			(12)			32			11		21.2	%	(73)		(228.1)	%
MSRs change due to payment decay	(15)			(17)			(19)			(18)			(16)			2		11.8	%	1		6.3	%
MSR and related hedge impact	(4)			(22)			(24)			(33)			(22)			18		81.8	%	18		81.8	%
Total mortgage income	$	47		$	48		$	49		$	50		$	53		$	(1)	(2.1)	%	(6)		(11.3)	%
Mortgage production - portfolio	$	1,277		$	1,021		$	1,273		$	1,548		$	1,746		$	256	25.1	%	$	(469)	(26.9)	%
Mortgage production - agency/secondary market	680			819			1,133			1,276			1,255			(139)		(17.0)	%	(575)		(45.8)	%
Total mortgage production	$	1,957		$	1,840		$	2,406		$	2,824		$	3,001		$	117	6.4	%	$	(1,044)	(34.8)	%
Mortgage production - purchased	82.9		%	65.7		%	58.6		%	59.7		%	63.6		%
Mortgage production - refinanced	17.1		%	34.3		%	41.4		%	40.3		%	36.4		%

Wealth Management Income

	Quarter Ended
($ amounts in millions)	6/30/2022		3/31/2022		12/31/2021		9/30/2021		6/30/2021		2Q22 vs. 1Q22				2Q22 vs. 2Q21
Investment management and trust fee income	$	72	$	75	$	74	$	69	$	69	$	(3)	(4.0)	%	$	3	4.3	%
Investment services fee income	30		26		26		26		27		4		15.4	%	3		11.1	%
Total wealth management income (4)	$	102	$	101	$	100	$	95	$	96	$	1	1.0	%	$	6	6.3	%

Capital Markets Income

	Quarter Ended
($ amounts in millions)	6/30/2022		3/31/2022		12/31/2021		9/30/2021		6/30/2021		2Q22 vs. 1Q22				2Q22 vs. 2Q21
Capital markets income	$	112	$	73	$	83	$	87	$	61	$	39	53.4	%	$	51	83.6	%
Less: Valuation adjustments on customer derivatives (5)	20		6		—		1		(4)		14		233.3	%	24		NM
Capital markets income excluding valuation adjustments	$	92	$	67	$	83	$	86	$	65	$	25	37.3	%	$	27	41.5	%

_________

NM - Not Meaningful

(1)Capital markets income primarily relates to capital raising activities that includes debt securities underwriting and placement, loan syndication and placement, as well as foreign exchange, derivative and merger and acquisition advisory services.

(2)Mortgage income in the first quarter of 2022 includes approximately $12 million in gains associated with the re-securitization and sale of approximately $285 million of Ginnie Mae loans that had been previously repurchased from their pools.

(3)These market value adjustments relate to assets held for employee benefits that are offset within salaries and employee benefits expense.

(4)Total wealth management income presented above does not include the portion of service charges on deposit accounts and similar smaller dollar amounts that are also attributable to the wealth management segment.

(5)For the purposes of determining the fair value of customer derivatives, the Company considers the risk of nonperformance by counterparties, as well as the Company's own risk of nonperformance. The valuation adjustments above are reflective of the values associated with these considerations.

Regions Financial Corporation and Subsidiaries

Financial Supplement (unaudited) to Second Quarter 2022 Earnings Release

Non-Interest Income

	Six Months Ended				Year-to-Date 6/30/2022 vs. 6/30/2021
($ amounts in millions)	6/30/2022		6/30/2021		Amount		Percent
Service charges on deposit accounts	$	333	$	320	$	13	4.1	%
Card and ATM fees	257		243		14		5.8	%
Wealth management income	203		187		16		8.6	%
Capital markets income (1)	185		161		24		14.9	%
Mortgage income	95		143		(48)		(33.6)	%
Commercial credit fee income	45		45		—		—	%
Bank-owned life insurance	30		50		(20)		(40.0)	%
Market value adjustments on employee benefit assets - other (2)	(31)		15		(46)		(306.7)	%
Gain on equity investment	—		3		(3)		(100.0)	%
Securities gains (losses), net	—		2		(2)		(100.0)	%
Other miscellaneous income	107		91		16		17.6	%
Total non-interest income	$	1,224	$	1,260	$	(36)	(2.9)	%

Mortgage Income

	Six Months Ended						Year-to-Date 6/30/2022 vs. 6/30/2021
($ amounts in millions)	6/30/2022			6/30/2021			Amount		Percent
Production and sales	$	66		$	126		$	(60)	(47.6)	%
Loan servicing	55			49			6		12.2	%
MSR and related hedge impact:
MSRs fair value increase (decrease) due to change in valuation inputs or assumptions	99			52			47		90.4	%
MSRs hedge gain (loss)	(93)			(51)			(42)		(82.4)	%
MSRs change due to payment decay	(32)			(33)			1		3.0	%
MSR and related hedge impact	(26)			(32)			6		18.8	%
Total mortgage income	$	95		$	143		$	(48)	(33.6)	%
Mortgage production - portfolio	$	2,298		$	3,216		$	(918)	(28.5)	%
Mortgage production - agency/secondary market	1,499			2,561			(1,062)		(41.5)	%
Total mortgage production	$	3,797		$	5,777		$	(1,980)	(34.3)	%
Mortgage production - purchased	74.6		%	57.7		%
Mortgage production - refinanced	25.4		%	42.3		%

Wealth Management Income

	Six Months Ended				Year-to-Date 6/30/2022 vs. 6/30/2021
($ amounts in millions)	6/30/2022		6/30/2021		Amount		Percent
Investment management and trust fee income	$	147	$	135	$	12	8.9	%
Investment services fee income	56		52		4		7.7	%
Total wealth management income (3)	$	203	$	187	$	16	8.6	%

Capital Markets Income

	Six Months Ended				Year-to-Date 6/30/2022 vs. 6/30/2021
($ amounts in millions)	6/30/2022		6/30/2021		Amount		Percent
Capital markets income	$	185	$	161	$	24	14.9	%
Less: Valuation adjustments on customer derivatives (4)	26		7		19		271.4	%
Capital markets income excluding valuation adjustments	$	159	$	154	$	5	3.2	%

_________

NM - Not Meaningful

(1)Capital markets income primarily relates to capital raising activities that includes debt securities underwriting and placement, loan syndication and placement, as well as foreign exchange, derivative and merger and acquisition advisory services.

(2)These market value adjustments relate to assets held for employee benefits that are offset within salaries and employee benefits expense.

(3)Total wealth management income presented above does not include the portion of service charges on deposit accounts and similar smaller dollar amounts that are also attributable to the wealth management segment.

(4)For the purposes of determining the fair value of customer derivatives, the Company considers the risk of nonperformance by counterparties, as well as the Company's own risk of nonperformance. The valuation adjustments above are reflective of the values associated with these considerations.

Regions Financial Corporation and Subsidiaries

Financial Supplement (unaudited) to Second Quarter 2022 Earnings Release

Non-Interest Expense

	Quarter Ended
($ amounts in millions)	6/30/2022		3/31/2022		12/31/2021		9/30/2021		6/30/2021		2Q22 vs. 1Q22				2Q22 vs. 2Q21
Salaries and employee benefits	$	575	$	546	$	575	$	552	$	532	$	29	5.3	%	$	43	8.1	%
Equipment and software expense	97		95		96		90		89		2		2.1	%	8		9.0	%
Net occupancy expense	75		75		76		75		75		—		—	%	—		—	%
Outside services	38		38		41		38		39		—		—	%	(1)		(2.6)	%
Marketing	22		24		32		23		29		(2)		(8.3)	%	(7)		(24.1)	%
Professional, legal and regulatory expenses	24		17		33		21		15		7		41.2	%	9		60.0	%
Credit/checkcard expenses	13		26		15		16		17		(13)		(50.0)	%	(4)		(23.5)	%
FDIC insurance assessments	13		14		13		11		11		(1)		(7.1)	%	2		18.2	%
Visa class B shares expense	9		5		8		4		6		4		80.0	%	3		50.0	%
Loss on early extinguishment of debt	—		—		—		20		—		—		—	%	—		NM
Branch consolidation, property and equipment charges	(6)		1		—		—		—		(7)		NM		(6)		NM
Other miscellaneous expenses	88		92		94		88		85		(4)		(4.3)	%	3		3.5	%
Total non-interest expense	$	948	$	933	$	983	$	938	$	898	$	15	1.6	%	$	50	5.6	%
	Six Months Ended				Year-to-Date 6/30/2022 vs. 6/30/2021
---	---	---	---	---	---	---	---	---
($ amounts in millions)	6/30/2022		6/30/2021		Amount		Percent
Salaries and employee benefits	$	1,121	$	1,078	$	43	4.0	%
Equipment and software expense	192		179		13		7.3	%
Net occupancy expense	150		152		(2)		(1.3)	%
Outside services	76		77		(1)		(1.3)	%
Marketing	46		51		(5)		(9.8)	%
Professional, legal and regulatory expenses	41		44		(3)		(6.8)	%
Credit/checkcard expenses	39		31		8		25.8	%
FDIC insurance assessments	27		21		6		28.6	%
Visa class B shares expense	14		10		4		40.0	%
Branch consolidation, property and equipment charges	(5)		5		(10)		(200.0)	%
Other miscellaneous expenses	180		178		2		1.1	%
Total non-interest expense	$	1,881	$	1,826	$	55	3.0	%

_________

NM - Not Meaningful

Regions Financial Corporation and Subsidiaries

Financial Supplement (unaudited) to Second Quarter 2022 Earnings Release

Reconciliation of GAAP Financial Measures to non-GAAP Financial Measures

Adjusted Efficiency Ratios, Adjusted Fee Income Ratios, Adjusted Non-Interest Income/Expense, Adjusted Operating Leverage Ratios, and Adjusted Total Revenue

The table below presents computations of the efficiency ratio, which is a measure of productivity, generally calculated as non-interest expense divided by total revenue; and the fee income ratio, generally calculated as non-interest income divided by total revenue. Management uses these ratios to monitor performance and believes these measures provide meaningful information to investors. Non-interest expense (GAAP) is presented excluding certain adjustments to arrive at adjusted non-interest expense (non-GAAP), which is the numerator for the adjusted efficiency ratio. Non-interest income (GAAP) is presented excluding certain adjustments to arrive at adjusted non-interest income (non-GAAP), which is the numerator for the adjusted fee income ratio. Net interest income and non-interest income are added together to arrive at total revenue. Adjustments are made to arrive at adjusted total revenue (non-GAAP). Net interest income on a taxable-equivalent basis and non-interest income are added together to arrive at total revenue on a taxable-equivalent basis. Adjustments are made to arrive at adjusted total revenue on a taxable-equivalent basis (non-GAAP), which is the denominator for the adjusted fee income and adjusted efficiency ratios. Also presented is a computation of the adjusted operating leverage ratio (non-GAAP) which is the period to period percentage change in adjusted total revenue on a taxable-equivalent basis (non-GAAP) less the percentage change in adjusted non-interest expense (non-GAAP).

	Quarter Ended
( amounts in millions)	6/30/2022			3/31/2022			12/31/2021			9/30/2021			6/30/2021			2Q22 vs. 1Q22				2Q22 vs. 2Q21
Non-interest expense (GAAP)	$	948		$	933		$	983		$	938		$	898		$	15	1.6	%	$	50	5.6	%
Adjustments:
Contribution to the Regions Financial Corporation foundation	—			—			—			—			(1)			—		NM		1		100.0	%
Branch consolidation, property and equipment charges	6			(1)			—			—			—			7		NM		6		NM
Salaries and employee benefits—severance charges	—			—			(1)			—			(2)			—		NM		2		100.0	%
Loss on early extinguishment of debt	—			—			—			(20)			—			—		NM		—		NM
Professional, legal and regulatory expenses (1)	—			—			(15)			—			—			—		NM		—		NM
Adjusted non-interest expense (non-GAAP)	$	954		$	932		$	967		$	918		$	895		$	22	2.4	%	$	59	6.6	%
Net interest income (GAAP)	$	1,108		$	1,015		$	1,019		$	965		$	963		$	93	9.2	%	$	145	15.1	%
Taxable-equivalent adjustment	11			11			10			11			12			—		—	%	(1)		(8.3)	%
Net interest income, taxable-equivalent basis	$	1,119		$	1,026		$	1,029		$	976		$	975		$	93	9.1	%	$	144	14.8	%
Non-interest income (GAAP)	640			584			615			649			619			56		9.6	%	21		3.4	%
Adjustments:
Securities (gains) losses, net	—			—			—			(1)			(1)			—		NM		1		100.0	%
Leveraged lease termination gains	—			(1)			—			(2)			—			1		100.0	%	—		NM
Bank-owned life insurance (2)	—			—			—			—			(18)			—		NM		18		100.0	%
Adjusted non-interest income (non-GAAP)	$	640		$	583		$	615		$	646		$	600		57		9.8	%	$	40	6.7	%
Total revenue	$	1,748		$	1,599		$	1,634		$	1,614		$	1,582		$	149	9.3	%	$	166	10.5	%
Adjusted total revenue (non-GAAP)	$	1,748		$	1,598		$	1,634		$	1,611		$	1,563		$	150	9.4	%	$	185	11.8	%
Total revenue, taxable-equivalent basis	$	1,759		$	1,610		$	1,644		$	1,625		$	1,594		$	149	9.3	%	$	165	10.4	%
Adjusted total revenue, taxable-equivalent basis (non-GAAP)	$	1,759		$	1,609		$	1,644		$	1,622		$	1,575		$	150	9.3	%	$	184	11.7	%
Efficiency ratio (GAAP) (3)	53.9		%	57.9		%	59.8		%	57.7		%	56.4		%
Adjusted efficiency ratio (non-GAAP) (3)	54.2		%	57.9		%	58.8		%	56.6		%	56.9		%
Fee income ratio (GAAP) (3)	36.4		%	36.3		%	37.4		%	40.0		%	38.8		%
Adjusted fee income ratio (non-GAAP) (3)	36.4		%	36.2		%	37.4		%	39.8		%	38.1		%

All values are in US Dollars. ________

NM - Not Meaningful

(1)Amounts are professional and legal expenses related to acquisitions.

(2)During the second quarter of 2021, the Company recognized an individual BOLI claim benefit.

(3)Amounts have been calculated using whole dollar values.

Regions Financial Corporation and Subsidiaries

Financial Supplement (unaudited) to Second Quarter 2022 Earnings Release

Reconciliation of GAAP Financial Measures to non-GAAP Financial Measures

Adjusted Efficiency Ratios, Adjusted Fee Income Ratios, Adjusted Non-Interest Income/Expense, Adjusted Operating Leverage Ratios and Adjusted Total Revenue (continued)

	Six Months Ended June 30
( amounts in millions)	2022			2021			2022 vs. 2021
Non-interest expense (GAAP)	$	1,881		$	1,826		$	55	3.0	%
Adjustments:
Contribution to the Regions Financial Corporation foundation	—			(3)			3		100.0	%
Branch consolidation, property and equipment charges	5			(5)			10		200.0	%
Salaries and employee benefits—severance charges	—			(5)			5		100.0	%
Adjusted non-interest expense (non-GAAP)	$	1,886		$	1,813		$	73	4.0	%
Net interest income (GAAP)	$	2,123		$	1,930		$	193	10.0	%
Taxable-equivalent adjustment	22			23			(1)		(4.3)	%
Net interest income, taxable-equivalent basis	$	2,145		$	1,953		$	192	9.8	%
Non-interest income (GAAP)	$	1,224		$	1,260		$	(36)	(2.9)	%
Adjustments:
Securities (gains) losses, net	—			(2)			2		100.0	%
Gains on equity investment	—			(3)			3		100.0	%
Leveraged lease termination gains	(1)			—			(1)		NM
Bank owned life insurance (1)	—			(18)			18		100.0	%
Adjusted non-interest income (non-GAAP)	$	1,223		$	1,237		$	(14)	(1.1)	%
Total revenue	$	3,347		$	3,190		$	157	4.9	%
Adjusted total revenue (non-GAAP)	$	3,346		$	3,167		$	179	5.7	%
Total revenue, taxable-equivalent basis	$	3,369		$	3,213		$	156	4.9	%
Adjusted total revenue, taxable-equivalent basis (non-GAAP)	$	3,368		$	3,190		$	178	5.6	%
Operating leverage ratio (GAAP) (2)									1.9	%
Adjusted operating leverage ratio (non-GAAP) (2)									1.6	%
Efficiency ratio (GAAP) (2)	55.9		%	56.9		%
Adjusted efficiency ratio (non-GAAP) (2)	56.0		%	56.9		%
Fee income ratio (GAAP) (2)	36.3		%	39.2		%
Adjusted fee income ratio (non-GAAP) (2)	36.3		%	38.8		%

All values are in US Dollars. ______

NM - Not Meaningful

(1)During the second quarter of 2021, the Company recognized an individual BOLI claim benefit.

(2)Amounts have been calculated using whole dollar values.

Regions Financial Corporation and Subsidiaries

Financial Supplement (unaudited) to Second Quarter 2022 Earnings Release

Reconciliation of GAAP Financial Measures to non-GAAP Financial Measures

Return Ratio

The table below provides a calculation of “return on average tangible common shareholders’ equity”. Tangible common shareholders’ equity ratios have become a focus of some investors and management believes they may assist investors in analyzing the capital position of the Company absent the effects of intangible assets and preferred stock. Analysts and banking regulators have assessed Regions’ capital adequacy using the tangible common shareholders’ equity measure. Because tangible common shareholders’ equity is not formally defined by GAAP or prescribed in any amount by federal banking regulations it is currently considered to be a non-GAAP financial measure and other entities may calculate it differently than Regions’ disclosed calculations. Since analysts and banking regulators may assess Regions’ capital adequacy using tangible common shareholders’ equity, management believes that it is useful to provide investors the ability to assess Regions’ capital adequacy on this same basis.

	Quarter Ended
( amounts in millions)	6/30/2022			3/31/2022			12/31/2021			9/30/2021			6/30/2021
RETURN ON AVERAGE TANGIBLE COMMON SHAREHOLDERS' EQUITY
Net income available to common shareholders (GAAP)	$	558		$	524		$	414		$	624		$	748
Average shareholders' equity (GAAP)	$	16,404		$	17,717		$	18,308		$	18,453		$	18,000
Less:
Average intangible assets (GAAP)	6,034			6,043			5,852			5,285			5,292
Average deferred tax liability related to intangibles (GAAP)	(101)			(100)			(98)			(96)			(96)
Average preferred stock (GAAP)	1,659			1,659			1,660			1,659			1,659
Average tangible common shareholders' equity (non-GAAP)	$	8,812		$	10,115		$	10,894		$	11,605		$	11,145
Return on average tangible common shareholders' equity (non-GAAP) *(1)	25.40		%	21.00		%	15.07		%	21.34		%	26.91		%

All values are in US Dollars.

____

*Annualized

(1)Amounts have been calculated using whole dollar values.

Regions Financial Corporation and Subsidiaries

Financial Supplement (unaudited) to Second Quarter 2022 Earnings Release

Credit Quality

	As of and for Quarter Ended
($ amounts in millions)	6/30/2022		3/31/2022		12/31/2021		9/30/2021		6/30/2021
Components:
Beginning allowance for loan losses (ALL)	$	1,416	$	1,479	$	1,428	$	1,597	$	1,976
Loans charged-off:
Commercial and industrial	21		23		23		21		35
Commercial real estate mortgage—owner-occupied	1		3		—		1		1
Total commercial	22		26		23		22		36
Commercial investor real estate mortgage	—		—		1		—		4
Total investor real estate	—		—		1		—		4
Residential first mortgage	—		—		1		—		—
Home equity—lines of credit	1		1		1		1		2
Home equity—closed-end	—		1		—		—		1
Consumer credit card	10		10		10		9		12
Other consumer—exit portfolios	4		6		6		7		7
Other consumer	33		33		30		20		21
Total consumer	48		51		48		37		43
Total	70		77		72		59		83
Recoveries of loans previously charged-off:
Commercial and industrial	12		13		12		14		14
Commercial real estate mortgage—owner-occupied	1		—		—		2		1
Total commercial	13		13		12		16		15
Commercial investor real estate mortgage	1		—		—		1		2
Total investor real estate	1		—		—		1		2
Residential first mortgage	1		2		2		—		2
Home equity—lines of credit	4		3		3		3		5
Home equity—closed-end	1		1		1		1		2
Consumer credit card	2		2		3		2		3
Other consumer—exit portfolios	2		2		—		2		1
Other consumer	8		8		7		4		6
Total consumer	18		18		16		12		19
Total	32		31		28		29		36
Net charge-offs (recoveries):
Commercial and industrial	9		10		11		7		21
Commercial real estate mortgage—owner-occupied	—		3		—		(1)		—
Total commercial	9		13		11		6		21
Commercial investor real estate mortgage	(1)		—		1		(1)		2
Total investor real estate	(1)		—		1		(1)		2
Residential first mortgage	(1)		(2)		(1)		—		(2)
Home equity—lines of credit	(3)		(2)		(2)		(2)		(3)
Home equity—closed-end	(1)		—		(1)		(1)		(1)
Consumer credit card	8		8		7		7		9
Other consumer—exit portfolios	2		4		6		5		6
Other consumer	25		25		23		16		15
Total consumer	30		33		32		25		24
Total	$	38	$	46	$	44	$	30	$	47
Provision for (benefit from) loan losses	$	47	$	(17)	$	86	$	(139)	$	(332)
Initial allowance on acquired purchased credit deteriorated loans	—		—		9		—		—
Ending allowance for loan losses (ALL)	1,425		1,416		1,479		1,428		1,597
Beginning reserve for unfunded credit commitments	76		95		71		87		92
Provision for (benefit from) unfunded credit losses	13		(19)		24		(16)		(5)
Ending reserve for unfunded commitments	89		76		95		71		87
Allowance for credit losses (ACL) at period end	$	1,514	$	1,492	$	1,574	$	1,499	$	1,684

Regions Financial Corporation and Subsidiaries

Financial Supplement (unaudited) to Second Quarter 2022 Earnings Release

Credit Quality (continued)
	As of and for Quarter Ended
($ amounts in millions)	6/30/2022			3/31/2022			12/31/2021			9/30/2021			6/30/2021
Net loan charge-offs as a % of average loans, annualized (1):
Commercial and industrial	0.07		%	0.09		%	0.11		%	0.06		%	0.19		%
Commercial real estate mortgage—owner-occupied	0.05		%	0.20		%	0.01		%	(0.06)		%	(0.03)		%
Commercial real estate construction—owner-occupied	(0.01)		%	(0.03)		%	0.18		%	0.10		%	0.38		%
Total commercial	0.07		%	0.10		%	0.10		%	0.05		%	0.17		%
Commercial investor real estate mortgage	(0.04)		%	(0.01)		%	0.01		%	(0.05)		%	0.19		%
Commercial investor real estate construction	(0.01)		%	—		%	—		%	—		%	(0.01)		%
Total investor real estate	(0.03)		%	(0.01)		%	0.01		%	(0.03)		%	0.14		%
Residential first mortgage	(0.01)		%	(0.05)		%	(0.02)		%	(0.01)		%	(0.04)		%
Home equity—lines of credit	(0.31)		%	(0.17)		%	(0.22)		%	(0.24)		%	(0.29)		%
Home equity—closed-end	(0.04)		%	(0.07)		%	(0.16)		%	(0.10)		%	(0.10)		%
Consumer credit card	2.70		%	2.83		%	2.42		%	2.57		%	3.17		%
Other consumer—exit portfolios	0.80		%	1.83		%	1.69		%	1.58		%	1.49		%
Other consumer	1.72		%	1.89		%	1.69		%	2.80		%	2.63		%
Total consumer	0.39		%	0.44		%	0.39		%	0.35		%	0.34		%
Total	0.17		%	0.21		%	0.20		%	0.14		%	0.23		%
Non-performing loans, excluding loans held for sale	$	369		$	335		$	451		$	530		$	666
Non-performing loans held for sale	3			7			13			3			99
Non-performing loans, including loans held for sale	372			342			464			533			765
Foreclosed properties	11			9			10			13			15
Non-performing assets (NPAs)	$	383		$	351		$	474		$	546		$	780
Loans past due > 90 days (2)	$	107		$	125		$	140		$	124		$	134
Criticized loans—business (3)	$	2,310		$	2,539		$	2,905		$	3,054		$	3,222
Credit Ratios (1):
ACL/Loans, net	1.62		%	1.67		%	1.79		%	1.80		%	2.00		%
ALL/Loans, net	1.52		%	1.59		%	1.69		%	1.71		%	1.90		%
Allowance for credit losses to non-performing loans, excluding loans held for sale	410		%	446		%	349		%	283		%	253		%
Allowance for loan losses to non-performing loans, excluding loans held for sale	386		%	423		%	328		%	269		%	240		%
Non-performing loans, excluding loans held for sale/Loans, net	0.39		%	0.37		%	0.51		%	0.64		%	0.79		%
NPAs (ex. 90+ past due)/Loans, foreclosed properties, and non-performing loans held for sale	0.41		%	0.39		%	0.54		%	0.66		%	0.93		%
NPAs (inc. 90+ past due)/Loans, foreclosed properties, and non-performing loans held for sale (2)	0.52		%	0.53		%	0.70		%	0.80		%	1.09		%

(1)Amounts have been calculated using whole dollar values.

(2)Excludes guaranteed residential first mortgages that are 90+ days past due and still accruing. Refer to the footnotes on page 16 for amounts related to these loans.

(3)Business represents the combined total of commercial and investor real estate loans.

Regions Financial Corporation and Subsidiaries

Financial Supplement (unaudited) to Second Quarter 2022 Earnings Release

Non-Performing Loans (excludes loans held for sale)

	As of
($ amounts in millions, %'s calculated using whole dollar values)	6/30/2022				3/31/2022				12/31/2021				9/30/2021				6/30/2021
Commercial and industrial	$	257	0.53	%	$	216	0.47	%	$	305	0.70	%	$	359	0.86	%	$	472	1.11	%
Commercial real estate mortgage—owner-occupied	29		0.55	%	32		0.61	%	52		0.98	%	68		1.26	%	76		1.41	%
Commercial real estate construction—owner-occupied	10		3.92	%	10		3.75	%	11		4.11	%	11		4.22	%	10		4.02	%
Total commercial	296		0.55	%	258		0.50	%	368		0.75	%	438		0.92	%	558		1.16	%
Commercial investor real estate mortgage	3		0.05	%	2		0.04	%	3		0.06	%	4		0.07	%	4		0.07	%
Total investor real estate	3		0.04	%	2		0.03	%	3		0.05	%	4		0.05	%	4		0.05	%
Residential first mortgage	27		0.15	%	31		0.18	%	33		0.19	%	37		0.22	%	51		0.30	%
Home equity—lines of credit	36		1.00	%	37		1.02	%	40		1.08	%	44		1.15	%	45		1.12	%
Home equity—closed-end	7		0.28	%	7		0.28	%	7		0.27	%	7		0.27	%	8		0.30	%
Total consumer	70		0.22	%	75		0.24	%	80		0.25	%	88		0.31	%	104		0.36	%
Total non-performing loans	$	369	0.39	%	$	335	0.37	%	$	451	0.51	%	$	530	0.64	%	$	666	0.79	%

Early and Late Stage Delinquencies

Accruing 30-89 Days Past Due Loans	As of
($ amounts in millions, %'s calculated using whole dollar values)	6/30/2022				3/31/2022				12/31/2021				9/30/2021				6/30/2021
Commercial and industrial	$	37	0.08	%	$	37	0.08	%	$	64	0.15	%	$	34	0.08	%	$	35	0.08	%
Commercial real estate mortgage—owner-occupied	5		0.10	%	6		0.11	%	4		0.09	%	7		0.14	%	7		0.13	%
Commercial real estate construction—owner-occupied	—		—	%	1		0.46	%	—		0.07	%	1		0.23	%	—		0.14	%
Total commercial	42		0.08	%	44		0.09	%	68		0.14	%	42		0.09	%	42		0.09	%
Commercial investor real estate mortgage	—		—	%	16		0.29	%	—		—	%	—		—	%	4		0.07	%
Total investor real estate	—		—	%	16		0.23	%	—		—	%	—		—	%	4		0.06	%
Residential first mortgage—non-guaranteed (1)	71		0.41	%	58		0.34	%	64		0.38	%	60		0.36	%	51		0.31	%
Home equity—lines of credit	16		0.45	%	20		0.55	%	21		0.57	%	22		0.56	%	18		0.45	%
Home equity—closed-end	11		0.43	%	12		0.47	%	11		0.44	%	10		0.40	%	10		0.39	%
Consumer credit card	13		1.11	%	13		1.12	%	15		1.23	%	12		1.02	%	11		0.95	%
Other consumer—exit portfolios	10		1.31	%	11		1.21	%	14		1.30	%	14		1.08	%	15		0.99	%
Other consumer	48		0.81	%	45		0.82	%	46		0.85	%	17		0.75	%	16		0.70	%
Total consumer (1)	169		0.66	%	159		0.64	%	171		0.67	%	135		0.49	%	121		0.43	%
Total accruing 30-89 days past due loans (1)	$	211	0.23	%	$	219	0.25	%	$	239	0.27	%	$	177	0.21	%	$	167	0.20	%
Accruing 90+ Days Past Due Loans	As of
($ amounts in millions, %'s calculated using whole dollar values)	6/30/2022				3/31/2022				12/31/2021				9/30/2021				6/30/2021
Commercial and industrial	$	4	0.01	%	$	5	0.01	%	$	5	0.01	%	$	3	0.01	%	$	4	0.01	%
Commercial real estate mortgage—owner-occupied	1		0.02	%	1		0.01	%	1		0.01	%	2		0.03	%	2		0.03	%
Total commercial	5		0.01	%	6		0.01	%	6		0.01	%	5		0.01	%	6		0.01	%
Residential first mortgage—non-guaranteed (2)	50		0.29	%	61		0.36	%	74		0.44	%	68		0.41	%	75		0.46	%
Home equity—lines of credit	16		0.46	%	19		0.52	%	21		0.56	%	20		0.53	%	21		0.51	%
Home equity—closed-end	9		0.36	%	11		0.45	%	12		0.49	%	13		0.49	%	13		0.48	%
Consumer credit card	11		0.97	%	12		1.11	%	12		1.04	%	11		0.97	%	12		1.05	%
Other consumer—exit portfolios	2		0.19	%	2		0.19	%	2		0.21	%	2		0.18	%	2		0.17	%
Other consumer	14		0.23	%	14		0.25	%	13		0.23	%	5		0.22	%	5		0.24	%
Total consumer (2)	102		0.41	%	119		0.50	%	134		0.58	%	119		0.43	%	128		0.46	%
Total accruing 90+ days past due loans (2)	$	107	0.11	%	$	125	0.14	%	$	140	0.16	%	$	124	0.15	%	$	134	0.16	%
Total delinquencies (1) (2)	$	318	0.34	%	$	344	0.39	%	$	379	0.43	%	$	301	0.36	%	$	301	0.36	%

(1)Excludes loans that are 100% guaranteed by FHA and guaranteed loans sold to Ginnie Mae where Regions has the right but not the obligation to repurchase. Total 30-89 days past due guaranteed loans excluded were $42 million at 6/30/2022, $39 million at 3/31/2022, $40 million at 12/31/2021, $40 million at 9/30/2021, and $46 million at 6/30/2021.

(2)Excludes loans that are 100% guaranteed by FHA and all guaranteed loans sold to Ginnie Mae where Regions has the right but not the obligation to repurchase. Total 90 days or more past due guaranteed loans excluded were $28 million at 6/30/2022, $37 million at 3/31/2022, $49 million at 12/31/2021, $44 million at 9/30/2021, and $44 million at 6/30/2021.

Regions Financial Corporation and Subsidiaries

Financial Supplement (unaudited) to Second Quarter 2022 Earnings Release

Consolidated Balance Sheets

	As of
($ amounts in millions)	6/30/2022		3/31/2022		12/31/2021		9/30/2021		6/30/2021
Assets:
Cash and due from banks	$	2,301	$	2,227	$	1,350	$	1,741	$	1,820
Interest-bearing deposits in other banks	18,199		25,718		28,061		25,766		23,774
Debt securities held to maturity	836		864		899		945		993
Debt securities available for sale	29,052		29,384		28,481		28,986		29,290
Loans held for sale	612		694		1,003		934		1,194
Loans, net of unearned income	93,458		89,335		87,784		83,270		84,074
Allowance for loan losses	(1,425)		(1,416)		(1,479)		(1,428)		(1,597)
Net loans	92,033		87,919		86,305		81,842		82,477
Other earning assets	1,428		1,504		1,187		1,269		1,246
Premises and equipment, net	1,768		1,794		1,814		1,805		1,825
Interest receivable	365		329		319		304		323
Goodwill	5,749		5,748		5,744		5,181		5,181
Residential mortgage servicing rights at fair value (MSRs)	770		542		418		410		392
Other identifiable intangible assets, net	279		292		305		101		108
Other assets	7,516		7,067		7,052		6,869		6,987
Total assets	$	160,908	$	164,082	$	162,938	$	156,153	$	155,610
Liabilities and Equity:
Deposits:
Non-interest-bearing	$	58,510	$	59,590	$	58,369	$	57,145	$	56,468
Interest-bearing	79,753		81,432		80,703		74,894		75,016
Total deposits	138,263		141,022		139,072		132,039		131,484
Borrowed funds:
Long-term borrowings	2,319		2,343		2,407		2,451		2,870
Other liabilities	3,819		3,735		3,133		3,040		3,004
Total liabilities	144,401		147,100		144,612		137,530		137,358
Equity:
Preferred stock, non-cumulative perpetual	1,659		1,659		1,659		1,659		1,659
Common stock	10		10		10		10		10
Additional paid-in capital	11,962		11,983		12,189		12,479		12,467
Retained earnings	6,314		5,915		5,550		5,296		4,836
Treasury stock, at cost	(1,371)		(1,371)		(1,371)		(1,371)		(1,371)
Accumulated other comprehensive income, net	(2,067)		(1,214)		289		532		651
Total shareholders’ equity	16,507		16,982		18,326		18,605		18,252
Noncontrolling interest	—		—		—		18		—
Total equity	16,507		16,982		18,326		18,623		18,252
Total liabilities and equity	$	160,908	$	164,082	$	162,938	$	156,153	$	155,610

Regions Financial Corporation and Subsidiaries

Financial Supplement (unaudited) to Second Quarter 2022 Earnings Release

End of Period Loans

	As of
											6/30/2022				6/30/2022
($ amounts in millions)	6/30/2022		3/31/2022		12/31/2021		9/30/2021		6/30/2021		vs. 3/31/2022				vs. 6/30/2021
Commercial and industrial	$	48,492	$	45,643	$	43,758	$	41,748	$	42,628	$	2,849	6.2	%	$	5,864	13.8	%
Commercial real estate mortgage—owner-occupied	5,218		5,181		5,287		5,446		5,381		37		0.7	%	(163)		(3.0)	%
Commercial real estate construction—owner-occupied	266		273		264		252		245		(7)		(2.6)	%	21		8.6	%
Total commercial	53,976		51,097		49,309		47,446		48,254		2,879		5.6	%	5,722		11.9	%
Commercial investor real estate mortgage	5,892		5,557		5,441		5,608		5,449		335		6.0	%	443		8.1	%
Commercial investor real estate construction	1,720		1,607		1,586		1,704		1,799		113		7.0	%	(79)		(4.4)	%
Total investor real estate	7,612		7,164		7,027		7,312		7,248		448		6.3	%	364		5.0	%
Total business	61,588		58,261		56,336		54,758		55,502		3,327		5.7	%	6,086		11.0	%
Residential first mortgage	17,892		17,373		17,512		17,347		17,051		519		3.0	%	841		4.9	%
Home equity—lines of credit (1)	3,550		3,602		3,744		3,875		4,057		(52)		(1.4)	%	(507)		(12.5)	%
Home equity—closed-end (2)	2,524		2,500		2,510		2,556		2,588		24		1.0	%	(64)		(2.5)	%
Consumer credit card	1,172		1,133		1,184		1,136		1,131		39		3.4	%	41		3.6	%
Other consumer—exit portfolios (3)	775		909		1,071		1,260		1,479		(134)		(14.7)	%	(704)		(47.6)	%
Other consumer	5,957		5,557		5,427		2,338		2,266		400		7.2	%	3,691		162.9	%
Total consumer	31,870		31,074		31,448		28,512		28,572		796		2.6	%	3,298		11.5	%
Total Loans	$	93,458	$	89,335	$	87,784	$	83,270	$	84,074	$	4,123	4.6	%	$	9,384	11.2	%

______

NM - Not meaningful.

(1)     The balance of Regions' home equity lines of credit consists of $1,952 million of first lien and $1,598 million of second lien at 6/30/2022.

(2)    The balance of Regions' closed-end home equity loans consists of $2,333 million of first lien and $191 million of second lien at 6/30/2022.

(3)    Regions ceased originating indirect vehicle loans in the second quarter of 2019 and decided not to renew another third party relationship in the fourth quarter of 2019.

	As of
End of Period Loans by Percentage	6/30/2022		3/31/2022		12/31/2021		9/30/2021		6/30/2021
Commercial and industrial	51.9	%	51.1	%	49.9	%	50.1	%	50.7	%
Commercial real estate mortgage—owner-occupied	5.6	%	5.8	%	6.0	%	6.5	%	6.4	%
Commercial real estate construction—owner-occupied	0.3	%	0.3	%	0.3	%	0.3	%	0.3	%
Total commercial	57.8	%	57.2	%	56.2	%	56.9	%	57.4	%
Commercial investor real estate mortgage	6.3	%	6.2	%	6.2	%	6.7	%	6.5	%
Commercial investor real estate construction	1.8	%	1.8	%	1.8	%	2.0	%	2.1	%
Total investor real estate	8.1	%	8.0	%	8.0	%	8.7	%	8.6	%
Total business	65.9	%	65.2	%	64.2	%	65.6	%	66.0	%
Residential first mortgage	19.1	%	19.4	%	19.9	%	20.8	%	20.3	%
Home equity—lines of credit	3.8	%	4.0	%	4.3	%	4.7	%	4.8	%
Home equity—closed-end	2.7	%	2.8	%	2.9	%	3.1	%	3.1	%
Consumer credit card	1.3	%	1.3	%	1.3	%	1.4	%	1.3	%
Other consumer—exit portfolios	0.8	%	1.0	%	1.2	%	1.5	%	1.8	%
Other consumer	6.4	%	6.3	%	6.2	%	2.8	%	2.7	%
Total consumer	34.1	%	34.8	%	35.8	%	34.4	%	34.0	%
Total Loans	100.0	%	100.0	%	100.0	%	100.0	%	100.0	%

Regions Financial Corporation and Subsidiaries

Financial Supplement (unaudited) to Second Quarter 2022 Earnings Release

Average Balances of Loans

	Average Balances
($ amounts in millions)	2Q22		1Q22		4Q21		3Q21		2Q21		2Q22 vs. 1Q22				2Q22 vs. 2Q21
Commercial and industrial	$	46,538	$	43,993	$	42,254	$	41,892	$	43,140	$	2,545	5.8	%	$	3,398	7.9	%
Commercial real estate mortgage—owner-occupied	5,204		5,237		5,386		5,436		5,358		(33)		(0.6)	%	(154)		(2.9)	%
Commercial real estate construction—owner-occupied	273		269		263		246		276		4		1.5	%	(3)		(1.1)	%
Total commercial	52,015		49,499		47,903		47,574		48,774		2,516		5.1	%	3,241		6.6	%
Commercial investor real estate mortgage	5,760		5,514		5,531		5,605		5,521		246		4.5	%	239		4.3	%
Commercial investor real estate construction	1,668		1,568		1,654		1,706		1,761		100		6.4	%	(93)		(5.3)	%
Total investor real estate	7,428		7,082		7,185		7,311		7,282		346		4.9	%	146		2.0	%
Total business	59,443		56,581		55,088		54,885		56,056		2,862		5.1	%	3,387		6.0	%
Residential first mortgage	17,569		17,496		17,413		17,198		16,795		73		0.4	%	774		4.6	%
Home equity—lines of credit	3,571		3,667		3,806		3,956		4,165		(96)		(2.6)	%	(594)		(14.3)	%
Home equity—closed-end	2,511		2,496		2,528		2,567		2,609		15		0.6	%	(98)		(3.8)	%
Consumer credit card	1,145		1,142		1,155		1,128		1,108		3		0.3	%	37		3.3	%
Other consumer—exit portfolios (1)	836		987		1,160		1,363		1,599		(151)		(15.3)	%	(763)		(47.7)	%
Other consumer	5,689		5,445		5,398		2,253		2,219		244		4.5	%	3,470		156.4	%
Total consumer	31,321		31,233		31,460		28,465		28,495		88		0.3	%	2,826		9.9	%
Total loans	$	90,764	$	87,814	$	86,548	$	83,350	$	84,551	$	2,950	3.4	%	$	6,213	7.3	%

_____

NM - Not meaningful.

(1)Regions ceased originating indirect vehicle lending in the second quarter of 2019 and decided not to renew another third party relationship in the fourth quarter of 2019.

Regions Financial Corporation and Subsidiaries

Financial Supplement (unaudited) to Second Quarter 2022 Earnings Release

Average Balances of Loans (continued)

	Average Balances
	Six Months Ended June 30
($ amounts in millions)	2022		2021		2022 vs. 2021
Commercial and industrial	$	45,273	$	42,978	$	2,295	5.3	%
Commercial real estate mortgage—owner-occupied	5,221		5,367		(146)		(2.7)	%
Commercial real estate construction—owner-occupied	270		289		(19)		(6.6)	%
Total commercial	50,764		48,634		2,130		4.4	%
Commercial investor real estate mortgage	5,638		5,449		189		3.5	%
Commercial investor real estate construction	1,618		1,804		(186)		(10.3)	%
Total investor real estate	7,256		7,253		3		—	%
Total business	58,020		55,887		2,133		3.8	%
Residential first mortgage	17,532		16,701		831		5.0	%
Home equity—lines of credit	3,619		4,290		(671)		(15.6)	%
Home equity—closed-end	2,504		2,639		(135)		(5.1)	%
Consumer credit card	1,143		1,129		14		1.2	%
Other consumer—exit portfolios (1)	911		1,741		(830)		(47.7)	%
Other consumer	5,568		2,266		3,302		145.7	%
Total consumer	31,277		28,766		2,511		8.7	%
Total Loans	$	89,297	$	84,653	$	4,644	5.5	%

_____

NM - Not meaningful.

(1)Regions ceased originating indirect vehicle lending in the second quarter of 2019 and decided not to renew a third party relationship in the fourth quarter of 2019.

.

Regions Financial Corporation and Subsidiaries

Financial Supplement (unaudited) to Second Quarter 2022 Earnings Release

End of Period Deposits

	As of
												6/30/2022					6/30/2022
($ amounts in millions)	6/30/2022		3/31/2022		12/31/2021		9/30/2021		6/30/2021			vs. 3/31/2022					vs. 6/30/2021
Interest-free deposits	$	58,510	$	59,590	$	58,369	$	57,145	$	56,468		$	(1,080)		(1.8)%		$	2,042		3.6%
Interest-bearing checking	26,989		28,001		28,018		25,217		25,512			(1,012)			(3.6)%		1,477			5.8%
Savings	16,220		16,101		15,134		14,573		14,099			119			0.7%		2,121			15.0%
Money market—domestic	31,116		31,677		31,408		30,736		30,725			(561)			(1.8)%		391			1.3%
Low-cost deposits	132,835		135,369		132,929		127,671		126,804			(2,534)			(1.9)%		6,031			4.8%
Time deposits	5,428		5,653		6,143		4,368		4,679			(225)			(4.0)%		749			16.0%
Corporate treasury time deposits	—		—		—		—		1			—			NM		(1)			(100.0)%
Total Deposits	$	138,263	$	141,022	$	139,072	$	132,039	$	131,484		$	(2,759)		(2.0)%		$	6,779		5.2%
	As of
												6/30/2022					6/30/2022
($ amounts in millions)	6/30/2022		3/31/2022		12/31/2021		9/30/2021		6/30/2021			vs. 3/31/2022					vs. 6/30/2021
Consumer Bank Segment	$	84,987	$	85,219	$	82,849	$	79,873	$	78,428		$	(232)		(0.3)%		$	6,559		8.4%
Corporate Bank Segment	41,456		42,836		42,689		41,442		43,147			(1,380)			(3.2)%		(1,691)			(3.9)%
Wealth Management Segment	9,489		10,420		10,853		10,251		9,477			(931)			(8.9)%		12			0.1%
Other (1)	2,331		2,547		2,681		473		432			(216)			(8.5)%		1,899			439.6%
Total Deposits	$	138,263	$	141,022	$	139,072	$	132,039	$	131,484		$	(2,759)		(2.0)%		$	6,779		5.2%
	As of
												6/30/2022					6/30/2022
($ amounts in millions)	6/30/2022		3/31/2022		12/31/2021		9/30/2021		6/30/2021			vs. 3/31/2022					vs. 6/30/2021
Wealth Management - Private Wealth	$	8,771	$	9,472	$	10,033	$	9,046	$	8,614		$	(701)		(7.4)%		$	157		1.8%
Wealth Management - Institutional Services	718		948		820		1,205		863			(230)			(24.3)%		(145)			(16.8)%
Total Wealth Management Segment Deposits	$	9,489	$	10,420	$	10,853	$	10,251	$	9,477		$	(931)		(8.9)%		$	12		0.1%
									As of
End of Period Deposits by Percentage									6/30/2022			3/31/2022			12/31/2021		9/30/2021			6/30/2021
Interest-free deposits									42.3		%	42.3		%	42.0	%	43.3		%	42.9	%
Interest-bearing checking									19.5		%	19.9		%	20.1	%	19.1		%	19.4	%
Savings									11.7		%	11.4		%	10.9	%	11.0		%	10.7	%
Money market—domestic									22.5		%	22.5		%	22.6	%	23.3		%	23.4	%
Low-cost deposits									96.0		%	96.1		%	95.6	%	96.7		%	96.4	%
Time deposits									4.0		%	3.9		%	4.4	%	3.3		%	3.6	%
Total Deposits									100.0		%	100.0		%	100.0	%	100.0		%	100.0	%

NM - Not meaningful.

(1)Other deposits represent non-customer balances primarily consisting of wholesale funding (for example, Eurodollar trade deposits, selected deposits and brokered time deposits).

Regions Financial Corporation and Subsidiaries

Financial Supplement (unaudited) to Second Quarter 2022 Earnings Release

Average Balances of Deposits

	Average Balances
($ amounts in millions)	2Q22		1Q22		4Q21		3Q21		2Q21		2Q22 vs. 1Q22				2Q22 vs. 2Q21
Interest-free deposits	$	58,911	$	58,117	$	57,840	$	56,999	$	56,595	$	794	1.4	%	$	2,316	4.1	%
Interest-bearing checking	27,533		27,771		26,000		25,277		25,044		(238)		(0.9)	%	2,489		9.9	%
Savings	16,200		15,539		14,854		14,328		13,914		661		4.3	%	2,286		16.4	%
Money market—domestic	31,348		31,402		31,483		30,765		30,762		(54)		(0.2)	%	586		1.9	%
Low-cost deposits	133,992		132,829		130,177		127,369		126,315		1,163		0.9	%	7,677		6.1	%
Time deposits	5,600		5,905		6,505		4,527		4,813		(305)		(5.2)	%	787		16.4	%
Corporate treasury time deposits	—		—		—		1		1		—		NM		(1)		(100.0)	%
Corporate treasury other deposits	—		—		—		—		3		—		NM		(3)		(100.0)	%
Total Deposits	$	139,592	$	138,734	$	136,682	$	131,897	$	131,132	$	858	0.6	%	8,460		6.5	%
	Average Balances
---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---
($ amounts in millions)	2Q22		1Q22		4Q21		3Q21		2Q21		2Q22 vs. 1Q22				2Q22 vs. 2Q21
Consumer Bank Segment	$	85,224	$	83,054	$	80,930	$	79,098	$	78,200	$	2,170	2.6	%	$	7,024	9.0	%
Corporate Bank Segment	41,920		42,609		42,659		42,525		42,966		(689)		(1.6)	%	(1,046)		(2.4)	%
Wealth Management Segment	10,020		10,407		10,054		9,873		9,519		(387)		(3.7)	%	501		5.3	%
Other (1)	2,428		2,664		3,039		401		447		(236)		(8.9)	%	1,981		443.2	%
Total Deposits	$	139,592	$	138,734	$	136,682	$	131,897	$	131,132	$	858	0.6	%	$	8,460	6.5	%			Average Balances
---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---	---
($ amounts in millions)	2Q22		1Q22		4Q21		3Q21		2Q21		2Q22 vs. 1Q22				2Q22 vs. 2Q21
Wealth Management - Private Wealth	$	9,266	$	9,591	$	9,266	$	9,036	$	8,673	$	(325)	(3.4)	%	$	593	6.8	%
Wealth Management - Institutional Services	754		816		788		837		846		(62)		(7.6)	%	(92)		(10.9)	%
Total Wealth Management Segment Deposits	$	10,020	$	10,407	$	10,054	$	9,873	$	9,519	$	(387)	(3.7)	%	$	501	5.3	%
	Average Balances
---	---	---	---	---	---	---	---	---
	Six Months Ended June 30
($ amounts in millions)	2022		2021		2022 vs. 2021
Interest-free deposits	$	58,516	$	54,230	$	4,286	7.9	%
Interest-bearing checking	27,651		24,610		3,041		12.4	%
Savings	15,871		13,132		2,739		20.9	%
Money market—domestic	31,375		30,097		1,278		4.2	%
Low-cost deposits	133,413		122,069		11,344		9.3	%
Time deposits	5,752		4,984		768		15.4	%
Corporate treasury time deposits	—		3		(3)		(100.0)	%
Corporate treasury other deposits	—		1		(1)		(100.0)	%
Total Deposits	$	139,165	$	127,057	$	12,108	9.5	%
	Average Balances
---	---	---	---	---	---	---	---	---
	Six Months Ended June 30
($ amounts in millions)	2022		2021		2022 vs. 2021
Consumer Bank Segment	$	84,145	$	75,589	$	8,556	11.3	%
Corporate Bank Segment	42,204		41,633		571		1.4	%
Wealth Management Segment	10,270		9,401		869		9.2	%
Other (1)	2,546		434		2,112		486.6	%
Total Deposits	$	139,165	$	127,057	$	12,108	9.5	%
	Average Balances
---	---	---	---	---	---	---	---	---
	Six Months Ended June 30
($ amounts in millions)	2022		2021		2022 vs. 2021
Wealth Management - Private Wealth	$	9,485	$	8,558	$	927	10.8	%
Wealth Management - Institutional Services	785		843		(58)		(6.9)	%
Total Wealth Management Segment Deposits	$	10,270	$	9,401	$	869	9.2	%

________

NM - Not meaningful.

(1)Other deposits represent non-customer balances primarily consisting of wholesale funding (for example, Eurodollar trade deposits, selected deposits and brokered time deposits).

Regions Financial Corporation and Subsidiaries

Financial Supplement (unaudited) to Second Quarter 2022 Earnings Release

Reconciliation of GAAP Financial Measures to non-GAAP Financial Measures

Tangible Common Ratios

The following tables provide the calculation of the end of period “tangible common shareholders’ equity” and "tangible common book value per share" ratios, and a reconciliation of shareholders’ equity (GAAP) to tangible common shareholders’ equity (non-GAAP). Since analysts and banking regulators may assess Regions’ capital adequacy using tangible common shareholders' equity, management believes that it is useful to provide investors the ability to assess Regions’ capital adequacy on this same basis.

	As of and for Quarter Ended
( amounts in millions, except per share data)	6/30/2022			3/31/2022			12/31/2021			9/30/2021			6/30/2021
Tangible Common Ratios
Shareholders’ equity (GAAP)	$	16,507		$	16,982		$	18,326		$	18,605		$	18,252
Less:
Preferred stock (GAAP)	1,659			1,659			1,659			1,659			1,659
Intangible assets (GAAP)	6,028			6,040			6,049			5,282			5,289
Deferred tax liability related to intangibles (GAAP)	(104)			(101)			(100)			(97)			(96)
Tangible common shareholders’ equity (non-GAAP)	$	8,924		$	9,384		$	10,718		$	11,761		$	11,400
Total assets (GAAP)	$	160,908		$	164,082		$	162,938		$	156,153		$	155,610
Less:
Intangible assets (GAAP)	6,028			6,040			6,049			5,282			5,289
Deferred tax liability related to intangibles (GAAP)	(104)			(101)			(100)			(97)			(96)
Tangible assets (non-GAAP)	$	154,984		$	158,143		$	156,989		$	150,968		$	150,417
Shares outstanding—end of quarter	934			933			942			955			955
Total equity to total assets (GAAP) (1)	10.26		%	10.35		%	11.25		%	11.91		%	11.73		%
Tangible common shareholders’ equity to tangible assets (non-GAAP) (1)	5.76		%	5.93		%	6.83		%	7.79		%	7.58		%
Tangible common book value per share (non-GAAP) (1)	$	9.55		$	10.06		$	11.38		$	12.32		$	11.94

All values are in US Dollars.

_________

(1)Amounts have been calculated using whole dollar values.

Regions Financial Corporation and Subsidiaries

Financial Supplement (unaudited) to Second Quarter 2022 Earnings Release

Forward-Looking Statements

This release may include forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not based on historical information, but rather are related to future operations, strategies, financial results or other developments. Forward-looking statements are based on management’s current expectations as well as certain assumptions and estimates made by, and information available to, management at the time the statements are made. Those statements are based on general assumptions and are subject to various risks, and because they also relate to the future they are likewise subject to inherent uncertainties and other factors that may cause actual results to differ materially from the views, beliefs and projections expressed in such statements. Therefore, we caution you against relying on any of these forward-looking statements. These risks, uncertainties and other factors include, but are not limited to, those described below:

•Current and future economic and market conditions in the United States generally or in the communities we serve (in particular the Southeastern United States), including the effects of possible declines in property values, increases in unemployment rates, financial market disruptions and potential reductions of economic growth, which may adversely affect our lending and other businesses and our financial results and conditions.

•Possible changes in trade, monetary and fiscal policies of, and other activities undertaken by, governments, agencies, central banks and similar organizations, which could have a material adverse effect on our earnings.

•Possible changes in market interest rates or capital markets could adversely affect our revenue and expense, the value of assets and obligations, and the availability and cost of capital and liquidity.

•The impact of pandemics, including the ongoing COVID-19 pandemic, on our businesses, operations, and financial results and conditions. The duration and severity of any pandemic, including the COVID-19 pandemic, could disrupt the global economy, adversely affect our capital and liquidity position, impair the ability of borrowers to repay outstanding loans and increase our allowance for credit losses, impair collateral values, and result in lost revenue or additional expenses.

•Any impairment of our goodwill or other intangibles, any repricing of assets, or any adjustment of valuation allowances on our deferred tax assets due to changes in tax law, adverse changes in the economic environment, declining operations of the reporting unit or other factors.

•The effect of new tax legislation and/or interpretation of existing tax law, which may impact our earnings, capital ratios, and our ability to return capital to shareholders.

•Possible changes in the creditworthiness of customers and the possible impairment of the collectability of loans and leases, including operating leases.

•Changes in the speed of loan prepayments, loan origination and sale volumes, charge-offs, credit loss provisions or actual credit losses where our allowance for credit losses may not be adequate to cover our eventual losses.

•Possible acceleration of prepayments on mortgage-backed securities due to low interest rates, and the related acceleration of premium amortization on those securities.

•Loss of customer checking and savings account deposits as customers pursue other, higher-yield investments, which could increase our funding costs.

•Possible changes in consumer and business spending and saving habits and the related effect on our ability to increase assets and to attract deposits, which could adversely affect our net income.

•Our ability to effectively compete with other traditional and non-traditional financial services companies, including fintechs, some of whom possess greater financial resources than we do or are subject to different regulatory standards than we are.

•Our inability to develop and gain acceptance from current and prospective customers for new products and services and the enhancement of existing products and services to meet customers’ needs and respond to emerging technological trends in a timely manner could have a negative impact on our revenue.

•Our inability to keep pace with technological changes, including those related to the offering of digital banking and financial services, could result in losing business to competitors.

•Changes in laws and regulations affecting our businesses, including legislation and regulations relating to bank products and services, as well as changes in the enforcement and interpretation of such laws and regulations by applicable governmental and self-regulatory agencies, including as a result of the changes in U.S. presidential administration, control of the U.S. Congress, and changes in personnel at the bank regulatory agencies, which could require us to change certain business practices, increase compliance risk, reduce our revenue, impose additional costs on us, or otherwise negatively affect our businesses.

•Our capital actions, including dividend payments, common stock repurchases, or redemptions of preferred stock, must not cause us to fall below minimum capital ratio requirements, with applicable buffers taken into account, and must comply with other requirements and restrictions under law or imposed by our regulators, which may impact our ability to return capital to shareholders.

•Our ability to comply with stress testing and capital planning requirements (as part of the CCAR process or otherwise) may continue to require a significant investment of our managerial resources due to the importance of such tests and requirements.

•Our ability to comply with applicable capital and liquidity requirements (including, among other things, the Basel III capital standards), including our ability to generate capital internally or raise capital on favorable terms, and if we fail to meet requirements, our financial condition and market perceptions of us could be negatively impacted.

•The effects of any developments, changes or actions relating to any litigation or regulatory proceedings brought against us or any of our subsidiaries.

•The costs, including possibly incurring fines, penalties, or other negative effects (including reputational harm) of any adverse judicial, administrative, or arbitral rulings or proceedings, regulatory enforcement actions, or other legal actions to which we or any of our subsidiaries are a party, and which may adversely affect our results.

•Our ability to manage fluctuations in the value of assets and liabilities and off-balance sheet exposure so as to maintain sufficient capital and liquidity to support our businesses.

•Our ability to execute on our strategic and operational plans, including our ability to fully realize the financial and nonfinancial benefits relating to our strategic initiatives.

•The risks and uncertainties related to our acquisition or divestiture of businesses, including our recently completed acquisitions of EnerBank, Sabal, and Clearsight, and risks related to such acquisitions, including that the expected synergies, cost savings and other financial or other benefits may not be realized within the expected timeframes, or might be less than projected; difficulties in integrating the businesses; and the inability of Regions to effectively cross-sell products following these acquisitions.

•The success of our marketing efforts in attracting and retaining customers.

•Our ability to recruit and retain talented and experienced personnel to assist in the development, management and operation of our products and services may be affected by changes in laws and regulations in effect from time to time.

•Fraud or misconduct by our customers, employees or business partners.

•Any inaccurate or incomplete information provided to us by our customers or counterparties.

•Inability of our framework to manage risks associated with our businesses, such as credit risk and operational risk, including third-party vendors and other service providers, which could, among other things, result in a breach of operating or security systems as a result of a cyber attack or similar act or failure to deliver our services effectively.

•Dependence on key suppliers or vendors to obtain equipment and other supplies for our businesses on acceptable terms.

•The inability of our internal controls and procedures to prevent, detect or mitigate any material errors or fraudulent acts.

•The effects of geopolitical instability, including wars, conflicts, civil unrest, and terrorist attacks and the potential impact, directly or indirectly, on our businesses.

Regions Financial Corporation and Subsidiaries

Financial Supplement (unaudited) to Second Quarter 2022 Earnings Release

•The effects of man-made and natural disasters, including fires, floods, droughts, tornadoes, hurricanes, and environmental damage (specifically in the Southeastern United States), which may negatively affect our operations and/or our loan portfolios and increase our cost of conducting business. The severity and frequency of future earthquakes, fires, hurricanes, tornadoes, droughts, floods and other weather-related events are difficult to predict and may be exacerbated by global climate change.

•Changes in commodity market prices and conditions could adversely affect the cash flows of our borrowers operating in industries that are impacted by changes in commodity prices (including businesses indirectly impacted by commodities prices such as businesses that transport commodities or manufacture equipment used in the production of commodities), which could impair their ability to service any loans outstanding to them and/or reduce demand for loans in those industries.

•Our ability to identify and address cyber-security risks such as data security breaches, malware, ransomware, “denial of service” attacks, “hacking” and identity theft, including account take-overs, a failure of which could disrupt our businesses and result in the disclosure of and/or misuse or misappropriation of confidential or proprietary information, disruption or damage to our systems, increased costs, losses, or adverse effects to our reputation.

•Our ability to achieve our expense management initiatives.

•Market replacement of LIBOR and the related effect on our LIBOR-based financial products and contracts, including, but not limited to, derivative products, debt obligations, deposits, investments, and loans.

•Possible downgrades in our credit ratings or outlook could, among other negative impacts, increase the costs of funding from capital markets.

•The effects of problems encountered by other financial institutions that adversely affect us or the banking industry generally could require us to change certain business practices, reduce our revenue, impose additional costs on us, or otherwise negatively affect our businesses.

•The effects of the failure of any component of our business infrastructure provided by a third party could disrupt our businesses, result in the disclosure of and/or misuse of confidential information or proprietary information, increase our costs, negatively affect our reputation, and cause losses.

•Our ability to receive dividends from our subsidiaries, in particular Regions Bank, could affect our liquidity and ability to pay dividends to shareholders.

•Changes in accounting policies or procedures as may be required by the FASB or other regulatory agencies could materially affect our financial statements and how we report those results, and expectations and preliminary analyses relating to how such changes will affect our financial results could prove incorrect.

•Fluctuations in the price of our common stock and inability to complete stock repurchases in the time frame and/or on the terms anticipated.

•The effects of anti-takeover and exclusive forum laws and provision in our certificate of incorporation and bylaws.

•The effects of any damage to our reputation resulting from developments related to any of the items identified above.

•Other risks identified from time to time in reports that we file with the SEC.

The foregoing list of factors is not exhaustive. For discussion of these and other factors that may cause actual results to differ from expectations, look under the captions “Forward-Looking Statements” and “Risk Factors” of Regions’ Annual Report on Form 10-K for the year ended December 31, 2021 and the "Risk Factors" of Regions' Quarterly Report on Form 10-Q for the quarter ended March 31, 2022 as filed with the SEC.

Forward-looking statements are subject to the risk that the actual effects may differ, possibly materially, from what is reflected in those forward-looking statements due to factors and future developments that are uncertain, unpredictable and in many cases beyond our control, including the scope and duration of the COVID-19 pandemic (including the impact of additional variants and resurgences), the effectiveness, availability and acceptance of any vaccines or therapies, and the direct and indirect impact of the COVID-19 pandemic on our customers, third parties and us.

The words “future,” “anticipates,” “assumes,” “intends,” “plans,” “seeks,” “believes,” “predicts,” “potential,” “objectives,” “estimates,” “expects,” “targets,” “projects,” “outlook,” “forecast,” “would,” “will,” “may,” “might,” “could,” “should,” “can,” and similar terms and expressions often signify forward-looking statements. You should not place undue reliance on any forward-looking statements, which speak only as of the date made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible to predict all of them. We assume no obligation and do not intend to update or revise any forward-looking statements that are made from time to time, either as a result of future developments, new information or otherwise, except as may be required by law.

Regions’ Investor Relations contact is Dana Nolan at (205) 264-7040; Regions’ Media contact is Jeremy King at (205) 264-4551.

25

rf-2022630xexhibit993

Exhibit 99.3 2nd Quarter Earnings Conference Call July 22, 2022

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2 Second quarter 2022 overview (1) Non-GAAP, see appendix for reconciliation. Pre-Tax Pre-Provision Income(1) Diluted Earnings Per Share Total Revenue Non-Interest Expense Net Income Available to Common Shareholders $0.59 $558M • ROATCE(1) ratio improved 440 bps QoQ to 25.4%. • 2Q adjusted pre-tax pre-provision income(1) of $794M represents highest level on record. • Annualized net charge-off ratio totaled 0.17% of average loans. • Efficiency ratio was 53.9% on a reported basis and 54.2% on an adjusted basis(1). $800M $1.7B $948M

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3(1) May 2022 vs 2021. (2) Represents penetration of Corporate Banking Group segment. (3) Since 2019. (4) Includes accounts for Investment Services, Institutional Services, Highland Associates, and Private Wealth Management. (5) Quality relationships defined as having a cumulative $500K in deposits, loans and IM&T accounts, revenue per quality relationship measured over TTM. Investments in our businesses Increased number of Treasury Management clients 14% YoY(1); penetration rate improved 370bps(1)(2) Clearsight has robust pipeline for 2H22 & on track to exceed FY expectations CORPORATE CONSUMER WEALTH We are investing in talent, technology, and strategic acquisitions; the investments we are making across all three of our businesses are paying off. Mobile users increased 8% YoY 44 new revenue generating staff positions(3) in Private WM & Investment Services Sabal closed $500M in Loans YTD; anticipate increasing FY volume by 11% Launched a new digital investing tool in 2Q combining ease of self- service with support of financial advisor Investments contributed to YTD growth in total relationships(4) of 5% and revenue per quality relationship(5) of 7% Significantly improved closing time on home equity products Contributed to YTD non-interest income growth of 9% Ascentium 1H22 production up 31% YoY; pipelines remain strong Completed YTD bulk purchases of MSR totaling $13B UPB & continue to purchase MSR on a flow basis Upgraded mortgage contact relationship management platform SBA lending on target to grow FY production by 45% vs pre- pandemic levels EnerBank acquisition performing as expected generating high quality loans; synergy work ongoing

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4 • Avg business loans increased 5% driven by broad- based growth across all businesses and industries. Commitments increased $5.5B and utilization increased to 44.4%. ◦ PPP loans ended the quarter at $254M. Expect PPP to reduce avg loans by ~$2.4B in FY22. ◦ Balances considered investment grade equivalent are up 30% YoY. Overall probability of default in this portfolio has improved ~35 bps since mid-2019. • Avg consumer loans remained relatively stable but increased 3% on an ending basis. Growth in avg mortgage & other consumer offset declines in other categories. ◦ Other Consumer includes ~7% growth in EnerBank loans. ◦ Expect consumer exit portfolios to reduce avg loans by ~$700M in FY22. • Expect full-year 2022 reported avg loan balances to grow ~8% compared to 2021. Loan growth continues $84.1 $89.3 $93.5 55.5 58.2 61.6 28.6 31.1 31.9 2Q21 1Q22 2Q22 (Ending, $ in billions) $84.6 $87.8 $90.8 56.1 56.6 59.5 28.5 31.2 31.3 2Q21 1Q22 2Q22 Loans and leases (Average, $ in billions) Business loansConsumer loans QoQ highlights & outlook 3% 5%

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5 $131.1 $138.7 $139.6 78.2 83.1 85.2 43.0 42.6 41.9 9.5 10.4 10.00.4 2.7 2.4 2Q21 1Q22 2Q22 Deposit growth continues (1) Other deposits represent non-customer balances primarily consisting of EnerBank brokered deposits. (2) See slide 18 for an analysis of surge deposit components, as well as underlying deposit beta assumptions. Wealth Mgt Other(1) Consumer Bank Corporate Bank QoQ highlights & outlook • Deposit balances acquired throughout the pandemic remained mostly stable. • Ending balances reflect the return of pre- pandemic seasonal patterns related to income tax payments during the quarter, as well as certain commercial and wealth clients reducing excess balances. • 2/3 of pandemic-related deposit growth assumed to have a ~70% deposit beta which includes ~$5-$10B of total deposit balance reduction in FY 2022.(2) • Legacy deposit base and the more stable component of surge deposits(2) represent a significant opportunity as rates continue to increase. (Ending, $ in billions) Deposits by Segment (Average, $ in billions) $131.5 $141.0 $138.3 78.4 85.2 85.0 43.1 42.8 41.5 9.5 10.4 9.50.4 2.5 2.3 2Q21 1Q22 2Q22

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6 $975 $1,026 $1,119 2.81% 2.85% 3.06% 3.31% 3.43% 3.44% 2Q21 1Q22 2Q22 NII NII & margin performance NII and NIM(1) ($ in millions) (1) Net interest income (NII) and net interest margin (NIM) are reflected on a fully taxable-equivalent basis. (2) Non-GAAP; see appendix for reconciliation. NIM • In 2Q, deposit and cash balances remained elevated. • PPP and cash account for -38 bps NIM and $48M NII within the quarter (+20 bps / +$33M QoQ) ◦ PPP loans account for +1 bps NIM and $8M NII within the quarter (-1 bps / -$4M QoQ) ◦ Excess cash accounts for -39 bps NIM and $40M NII (+21 bps / +$37M QoQ) • 15% average cash-to-earning asset ratio positioned well for rising rate environment. NIM excl. PPP/Cash(2)

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7 • Avg. loans grew ~$3.0B in 2Q • $1.2B securities purchases for hedging • Higher short-term rates now benefiting NII ◦ Contractual loan and cash repricing ◦ Hedging benefit of $78M NII in 2Q ◦ Stable deposit pricing; 2Q deposit yield = 6bps / interest-bearing deposit yield = 10bps (5% beta) • Higher long-term rates increase fixed rate asset yields and reduce securities premium amortization(2) • Negative other items mostly from seasonal HR asset dividends (1Q) and PPP; lower cash accretive to NIM Loan Bals/MixOther(1) (1) Other items include 1Q seasonal HR asset dividends, 2Q loan yield adjustment, PPP, and lower cash balances. (2) Market rate impacts include contractual loan, cash, hedge and borrowings repricing; fixed asset turnover at higher market rates; and lower securities premium amort. from $41M to $38M. (3) All guidance assumes 7/1/2022 forward rates; 75bps hike in July, 50bps in Sept., Fed Funds end 2022 at 3.5% $1,015 $1,108 NII Attribution Drivers of NII and NIM 2Q22 1Q22 -2bps -3bps +19bps+8bps +$6M +$12M +$70M-$7M Expectations for 3Q22 and Beyond NII NIM Positioned well for continued market rate increases and balance sheet expansion NII & margin - core drivers Market Rates(2)Days Securities Bals +$12M -1bps • NII expected to grow approximately 8-10% in 3Q ◦ Asset growth: Near-term environment conducive for continued loan growth; $1.2B securities additions in 2Q (~3.30% yield); No additional securities purchases included in guidance ◦ Market rates: Meaningful short and long-term rate leverage as illustrated on following page ◦ 1 additional day adds ~0.5% NII • Longer-term NII growth from organic and strategic asset growth, and higher rates; 2022 NII growth expected to be +16-18%, excl. PPP +19-21%; expect 4Q22 NII to be ~23-25% higher than 1Q22(3)

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8 (1) Adj. NIM excludes PPP and excess cash over $750M. Adjusted NIM is non-GAAP; see appendix for historical reconciliations. (2) Short-term rate NII guidance assumes 25%-35% incremental beta in a Fed Funds range of 1.75%-3.50%. 25bps rate hike adds +$40-60M of NII over 12 months(2) • ~$17B annual fixed rate loan production and securities reinvestment; mostly exposed to middle tenor rates • Reduced premium amortization from lower prepay speeds; expect to stabilize in mid/low-$30M per quarter Asset sensitive balance sheet Well positioned for rising short-term and/or long-term interest rates Short-term Rate Sensitivity Drivers • ~50% floating rate loans excl. hedges • Hedge maturities beginning in 3Q22 ◦ Recent decisions to shorten our hedge protection allows our sensitivity levels to increase throughout 2022 and beyond • Large, stable deposit funding base and historically low betas ◦ Stable deposit portfolio has grown by ~$15B over the pandemic ◦ 2/3 of pandemic growth likely more rate sensitive (~70% beta) • Large cash balance well positioned as rates rise Long-term Rate Sensitivity Drivers Upper End of Fed Funds Range 3.65% 3.80% 3.85% 3.90% 3.58% 3.70% 3.75% 3.80% 3.50% 3.60% 3.65% 3.70% 0.25% 1.00% 2.00% 2.50% 3.00% Longer-Term Adjusted(1) NIM Expectations Assumptions: • Base case deposit betas on stable balances consistent with the prior rate cycle; Surge deposit beta repricing/runoff of ~70% • Upper-end: Lower deposit beta and steeper yield curve • Lower-end: Higher deposit beta and flat to inverted yield curve • Opportunity for outperformance from surge deposit repricing / retention Assuming rates stabilize at higher levels and deposit betas follow historically-based expectations, Regions' NIM can achieve 3.80% over time Lower Beta/Steeper Curve Higher Beta/Flatter Curve 3.38% 3.40% 3.35%

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9 • Our legacy hedging program has performed as designed, limiting NII and NIM downside under the low-rate environment • The hedge repositioning in 2021 purposely created more rate exposure in the period where the balance of risk had shifted to rising rates • Today, forward rate expectations have been supportive of our longer-term margin goals; therefore, we have continued to add protection against a lower rate environment ◦ Year to date, we have added ~$15B of interest rate protection via swaps and securities for the next cycle ◦ Expect ~$5B additional hedging to finish program to protect 3.60% NIM in an environment where Fed Funds falls to 0.75% Net Receive Hedge Notional(1) (2) (1) Net receive hedge notional reflects receive-fixed asset hedges minus pay-fixed hedges. (2) Includes all active swaps entered into prior to 07/02/2022. (3) 2022 swap additions primarily receive fixed, pay SOFR; $1.5B receive fixed, pay LIBOR. (4) 1Q22 1mL equivalent yield: 2.33%; 2Q22 1mL equivalent yield: 3.10%. Hedging strategy update 2022 Swap Additions Legacy Swap Notional (Quarterly Avg) 1 2 3 4 5 61 2 3 4 5 6 72Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 Legacy Swap Notional $20.7B $17.0B $11.7B $9.4B $9.4B $9.4B $9.3B 2022 Swap Additions $0B $0B $0B $0B $0B $6.4B $9.4B Total Hedge Notional $20.7B $17.0B $11.7B $9.4B $9.4B $15.7B $18.7B 2023 2024 2025 2026 2027 2028 $9.3B $6.5B $1.4B $0B $0B $0B $4.0B $12.5B $12.5B $8.8B $4.0B $1.7B $13.3B $18.9B $13.9B $8.8B $4.0B $1.7B 2022 Swap Additions Receive Rate (vs SOFR) - - - - - 2.93% 2.91% Receive Rate (LIBOR Equivalent) - - - - - 3.04% 3.03% 2.92% 2.74% 2.74% 2.60% 2.24% 2.24% 3.03% 2.84% 2.84% 2.69% 2.31% 2.25% (Annual Avg) 1Q22 Hedging Actions • Added $4.2 billion of forward starting (late ’23/ early ‘24) receive fix swaps (2.26%) • Added ~$1.3 billion of spot starting securities (2.80%) 2Q22 Hedging Actions • Added $8.25 billion of forward starting (mid/late ‘23) receive fix swaps (2.99%) • Added $1.2 billion of spot starting securities (3.30%) (4) (4) (3) (3)

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10 Adj. Non-Interest Income $600 $583 $640 2Q21 1Q22 2Q22 Change vs ($ in millions) 2Q22 1Q22 2Q21 Service charges $165 (1.8)% 1.2% Card and ATM fees 133 7.3% 3.9% Capital markets (Ex CVA/DVA) 92 37.3% 41.5% Capital Markets - CVA/DVA 20 233.3% NM Wealth management income 102 1.0% 6.3% Mortgage income 47 (2.1)% (11.3)% Non-interest income NM - Not Meaningful (1) Non-GAAP; see appendix for reconciliation. QoQ outlook Total Revenue outlook • Expect 2022 adjusted total revenue to be up 7.5-8.5% compared to 2021. • Announced NSF/OD policy changes are expected to result in FY22 service charges of ~$600M and FY23 service charges of ~$550M. • Expect capital markets to generate quarterly revenue in $90-$110M range, ex.CVA/DVA; 3Q expected to be on the lower end of the range. • Mortgage is expected to be lower in 2022 vs. 2021, but remains a key component to fee revenue. • Wealth management continues to perform well despite market declines, and incremental YoY growth is expected. Non-Interest Income $619 $584 $640 2Q21 1Q22 2Q22 ($ in millions) ($ in millions) (1)

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11 $898 $933 $948 56.4% 57.9% 53.9% Non-interest expense Efficiency ratio 2Q21 1Q22 2Q22 • Non-interest expense increased ~2% on both a reported and adjusted basis(1). ◦ Salaries and benefits increased 5% due to annual merit increases, higher variable- based and incentive compensation, and one additional work day. Offset by a decrease in payroll taxes, higher loan cost deferrals associated with increased production, and lower HR asset valuations. • Expect 2022 adjusted non-interest expenses to be up 4.5-5.5% compared to 2021. • Expect to generate 3.00% adjusted operating leverage in 2022. $895 $932 $954 56.9% 57.9% 54.2% Adjusted non-interest expense Adjusted efficiency ratio 2Q21 1Q22 2Q22 $3,387 $3,419 $3,434 $3,443 $3,541 $3,698 2016 2017 2018 2019 2020 2021 Non-interest expense QoQ highlights & outlookAdj. Non-Interest Expense(1) ($ in millions) 1.8% CAGR (3) (4) (2) (1) (2) (1) Non-GAAP; see appendix for reconciliation. (2) Includes the incremental increase of core operating expenses associated with the EnerBank, Sabal Capital Partners, and ClearSight Advisors acquisitions closed during 4Q21. (3) 2020 adjusted NIE includes expenses associated with the Ascentium acquisition that closed 4/1/2020. (4) 2021 adjusted NIE includes expenses associated with 3 additional months for Ascentium, as well as the 4Q21 EnerBank, Sabal Capital Partners, and Clearsight Advisors acquisitions. (1) Non-Interest Expense (2) (2) ($ in millions) Adj. Non-Interest Expense(1) ($ in millions)

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12 • 2Q annualized NCOs at 17bps, decreased 4bps QoQ. • In consumer - residential mortgage and home equity experienced net recoveries in 2Q. • 2Q NPLs increased modestly while criticized business loans and total delinquencies continued to improve. • 2Q ACL increased modestly while the ACL ratio declined, both attributable to strong loan growth. • Expect full-year 2022 NCOs to be toward the lower end of 20-30 bps range. 1.71% 2.00% 1.67% 1.62% ACL/Loans Day 1 2Q21 1Q22 2Q22 $47 $46 $38 24 33 30 23 13 8 0.23% 0.21% 0.17% 2Q21 1Q22 2Q22 $666 $335 $369 253% 446% 410% 2Q21 1Q22 2Q22 NPLs and ACL coverage ratio Asset quality improvement continues ($ in millions) ($ in millions) ($ in millions) Net charge-offs and ratio NPLs - excluding LHFS ACL/NPLs Consumer net charge-offs Business services net charge-offs Net charge-offs ratio (1) CECL Day 1 ratio is as of January 1, 2020. ACL to loans ratio (1)

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13 10.4% 9.4% 9.2% 2Q21 1Q22 2Q22 • Stress Capital Buffer requirement for 4Q22 through 3Q23 will remain at 2.5% • Common Equity Tier 1 (CET1) ratio decreased 20 bps to 9.2%, reflecting strong loan growth. • Expect to maintain CET1 near the mid-point of 9.25-9.75% operating range over time. • In 2Q, Regions repurchased $15M of common stock and declared $159M in common dividends. • Our Board of Directors declared a quarterly common stock dividend of $0.20 per share, an 18% increase over the prior quarter. QoQ Highlights & Outlook Capital and liquidity (1) Current quarter ratios are estimated. (2) Based on ending balances. 11.9% 10.8% 10.6% 2Q21 1Q22 2Q22 Tier 1 capital ratio(1) Loan-to-deposit ratio(2) 64% 63% 68% 2Q21 1Q22 2Q22 Common equity Tier 1 ratio(1)

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14 2022 expectations (1) Non-GAAP, see appendix for reconciliation. (2) The reconciliation with respect to forward-looking non-GAAP measures is expected to be consistent with actual non-GAAP reconciliations included in the attached appendix or in previous filings with the SEC. (3) Expectations utilize the 7/1/2022 forward interest rate curve. Category FY 2022 Expectations Total Adjusted Revenue (from adjusted 2021 of $6,412)(1)(2)(3) up 7.5-8.5% Adjusted Non-Interest Expense (from adjusted 2021 of $3,698)(1)(2) up 4.5-5.5% Adjusted operating leverage(1)(2) ~3% Average Loans (from average 2021 of $84,802)(1)(2) up ~8% Net charge-offs / average loans toward the lower end of 20-30 bps Effective tax rate 21-23% Expectations for 3Q22 & Beyond • 3Q NII expected to grow 8-10%(3); 2022 NII growth expected to be +16-18%(3), excl. PPP +19-21%(3); expect 4Q22 NII to be ~23-25% higher than 1Q22(3). • Expect PPP loans to reduce average loans by ~$2.4B in FY22; Expect consumer exit portfolios to reduce average loans by ~$700M in FY22. • 2/3 of pandemic-related deposit growth assumed to have an ~70% deposit beta which includes ~$5-$10B of total deposit balance reduction in FY 2022. • Anticipated impact of announced NSF/OD policy changes will result in FY22 service charges of ~$600M and FY23 service charges of ~$550M. • Expect capital markets to generate quarterly revenue in $90-$110M range, ex.CVA/DVA; 3Q expected to be on the lower end of the range. • Mortgage is expected to be lower in 2022 vs 2021, but remains a key component to fee revenue. • Expect to maintain CET1 near the mid-point of 9.25-9.75% operating range over time.

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15 Appendix

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16 Selected items impact Second quarter 2022 highlights (1) Non-GAAP, see appendix for reconciliation. (2) Based on income taxes at an approximate 25% incremental rate. (3) Items impacting results or trends during the period, but are not considered non-GAAP adjustments. These items generally include market-related measures, impacts of new accounting guidance, or event driven actions. NM - Not Meaningful ($ amounts in millions, except per share data) 2Q22 QoQ Change YoY Change Net interest income $ 1,108 9.2% 15.1% Provision for (benefit from) credit losses 60 (266.7)% (117.8)% Non-interest income 640 9.6% 3.4% Non-interest expense 948 1.6% 5.6% Income before income taxes 740 5.4% (27.5)% Income tax expense 157 1.9% (32.0)% Net income 583 6.4% (26.2)% Preferred dividends 25 4.2% (40.5)% Net income available to common shareholders $ 558 6.5% (25.4)% Diluted EPS $ 0.59 7.3% (23.4)% Summary of second quarter results (amounts in millions, except per share data) 2Q22 Pre-tax adjusted items(1): Branch consolidation, property and equipment charges $ 6 Total pre-tax adjusted items(1) $ 6 Diluted EPS impact(2) $ — Additional selected items(3): CECL provision (in excess of) less than net charge-offs $ (22) Capital markets income - CVA/DVA 20 Residential MSR net hedge performance 11 PPP loan interest/fee income 8

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17 2.0 2.2 2.4 2Q20 2Q21 2Q22 1.31 2.28 2.99 2Q20 2Q21 2Q22 147 159 159 2Q20 2Q21 2Q22 2.8 3.1 3.3 2Q20 2Q21 2Q22 19.4% 21.4% 22.2% 31.7% 32.2% 32.2% 48.9% 46.4% 45.6% 2Q20 2Q21 2Q22 70.7 87.2 82.2 61.0 73.9 65.4 9.7 13.3 16.8 Deposits Lending 2Q20 2Q21 2Q22 66% 68% 70% 34% 32% 30% 2Q20 2Q21 2Q22 Growth in digital Mobile Banking Log-Ins (Millions) Customer Transactions(2)(3) Deposit Transactions by Channel +16% Active Users (Millions) +21% Digital Sales (Accounts in Thousands)(1) Digital Banking Digital Non-Digital Mobile ATMBranch (1) Digital sales represent deposit accounts opened and loans booked. (2) Digital transactions represent online and mobile only; Non-digital transactions represent branches, contact centers and ATMs. (3) Transactions represent Consumer customer deposits, transfers, mobile deposits, fee refunds, withdrawals, payments, official checks, bill payments, and Western Union. Excludes ACH and Debit Card purchases/refunds.(4) Includes cross-channel sales capabilities through digital banker dashboard applications launched across our footprint at the end of 2Q21. +129% +8% 21% 22% 21% 73% 76% 77% 6% 2% 2% 2Q20 2Q21 2Q22 Digital BranchContact Center Consumer Checking Sales by Channel(4) Mobile Banking Mobile App Rating Zelle Transactions (Millions)Sales and TransactionsDigital Usage +16%

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18 • Comprised of new consumer customers, consumer customers who did not receive stimulus and growth in historically stable products such as savings. • ~$15B, representing ~38% of growth since 12/31/2019. Balances roughly stable in 2Q22. • Considerable growth in consumer balances that had low betas in 2016-2019 cycle. Expect similar behavior to pre-pandemic portfolio, with a 30% through the cycle beta. $97 $15 $13 $12 $137 12/31/2019 Deposits Most-Stable, Low-Beta Growth Mid-Stable, Mid-Beta Growth Least Stable, Higher-Beta Growth 6/30/2022 Deposits $— $50 $100 $150 i Mostly-Stable, Low-Beta i l i - l i i Deposit surge and beta • Comprised mostly of small business accounts, stimulus-receiving customers(2), & wealth clients. • ~$13B, representing ~33% of growth since 12/31/2019. Balances roughly stable in 2Q22. • Expected beta of 40-60% • Comprised largely of Corporate/Commercial clients. The expectation is that some of these clients will seek alternative investments as rates rise, and/or will seek higher deposit rates. • ~$12B, representing ~30% of growth since 12/31/2019. Balances declined ~$2B in 2Q22. • Expected beta of 80-100% Low-beta deposits have grown considerably and remain relatively stable. Other pandemic era increases (approx. 2/3) are assumed to have a ~70% beta. Cash liquidity levels at ~$18B provide ample room to support cost-effective growth. Mostly-Stable, Low-Beta Surge: Mid-Stable, Mid-Beta Surge: Least-Stable, Higher-Beta (1) $ In Billions. Figures exclude EnerBank acquired deposits and are ending deposit balances. (2) Received via Direct Deposit Pandemic-Related Deposit Growth Adds to Low-Cost, Stable Funding Base(1) Business/ Other Deposits Business/ Other Deposits Retail Deposits Retail Deposits

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19 State of the consumer Regions' exposure to low-FICO borrowers remains negligible; customers with historically low deposit balances still have significant cushion Retail Deposits Business/ Other Deposits Retail Deposits Regions' consumer borrowers are in a strong position relative to pre-pandemic $378 $2,419 12/31/19 05/31/22 Balances up ~6x vs pre- pandemic • Exposure to customers with FICO scores less than 620 is less than 4% of consumer loan book(1) (primarily secured) • Average deposit balances among Regions consumer borrowers are 43% higher versus pre-pandemic levels • Delinquencies are at record lows with 30 day past due volumes 35% lower than pre-pandemic levels Average Customer Balances: Balance Footing <$1K Pre-pandemic(3) More broadly, Regions' lower-deposit-balance customers pre-pandemic still maintain substantial savings cushion 3.32% 3.30% 2.90% 2.38% 2.08% 2.02% 2.10% 1.73% 1.67% 1.64% 1.26% 1.08% 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2Q22 (1) As of 5/31/2022. (2) End of period (excludes non-performing loans and small business loans). (3) Includes Consumer and Private Wealth deposit customers (regardless of whether they have an outstanding Regions' borrowing or not); fixed group of customers with at least one deposit open account in both periods. 30 Days Past Due(2) Consumer Loans

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20 Hedges protected NII while rates were low; unwound hedges additive to NII in coming years While not included in the outlook, opportunities exist if surge deposits are retained with lower betas (assume ~70% through-the-cycle deposit beta), or if additional excess cash is able to be deployed into loans/ securities NII is positioned to benefit from higher rates, as well as natural loan growth and strategic opportunities. Hedge proceeds and the capital generated has been invested into strategically important businesses, such as Ascentium and EnerBank. 2021 2022 2023 NII Drivers - Current Support Relative Impact of Future NII Drivers(1) NII Drivers - Future Growth Expecte d NII g rowth of 1 3-15% CAGR Hedge Income Forward Rates EnerBank PPP Organic Growth Regions' asset sensitive position will benefit meaningfully as rates continue to rise The EnerBank acquisition closed in 4Q 2021, with additional growth opportunities expected PPP supported earnings through the pandemic but will mostly subside after 2021 Regions is well positioned to grow loans as the economic recovery continues NII Drivers - Additional Opportunity (1) Based on market forward rate projections from BlackRock as of 07/01/2022: 2021: Avg 1m LIBOR 10bps, Avg 10yr UST 1.46%; 2022: Avg 1m LIBOR 1.69%, Avg 10yr UST 2.61%; 2023: Avg 1m LIBOR 3.22%, Avg 10yr UST 2.96%. Future NII drivers

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21 Economic / Qualitative $1,492 $(38) $(28) $(9) $26 $71 $1,514 Allowance for credit losses waterfall Pandemic- related Qualitative Net Charge- Offs 06/30/2022 • 2Q allowance increased $21M compared to prior quarter, resulting in a $60M provision expense. • Key drivers of the increase in ACL: ◦ Significant growth in commitments in both core Business (primarily from existing customers) and EnerBank ◦ Some general economic uncertainty due to inflation and rising interest rates ◦ Early signs of normalization within select commercial sectors, offset by a decrease in reserves for borrowers who are individually evaluated QoQ highlights($ in millions) 03/31/2022 Changes in Portfolio Balances Changes in Portfolio Credit Quality and Specific Reserves

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22 Pre-R&S period 2Q2022 3Q2022 4Q2022 1Q2023 2Q2023 3Q2023 4Q2023 1Q2024 2Q2024 Real GDP, annualized % change 3.2 % 2.1 % 2.2 % 1.8 % 1.9 % 1.9 % 2.0 % 2.0 % 1.9 % Unemployment rate 3.6 % 3.5 % 3.5 % 3.4 % 3.4 % 3.4 % 3.5 % 3.5 % 3.5 % HPI, year-over-year % change 19.3 % 15.6 % 11.7 % 7.1 % 3.0 % 2.4 % 2.5 % 2.6 % 2.8 % S&P 500 4,208 4,256 4,336 4,419 4,506 4,584 4,645 4,707 4,769 CPI, year-over-year % change 8.3 % 8.7 % 7.8 % 6.4 % 4.8 % 3.3 % 2.7 % 2.4 % 2.2 % Base R&S economic outlook (as of June 2022) • Economic forecasts represent Regions’ internal outlook for the economy over the reasonable & supportable forecast period. • Given changes in the economic outlook, management considered alternative analytics to support qualitative additions to the modeled results to reflect continued risk and uncertainty in certain portfolios, including inflation risk.

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23 As of 6/30/2022 As of 12/31/2021 (in millions) Loan Balance ACL ACL/Loans Loan Balance ACL ACL/Loans C&I $48,492 548 1.13 % $43,758 $613 1.40 % CRE-OO mortgage 5,218 100 1.92 % 5,287 118 2.23 % CRE-OO construction 266 6 2.40 % 264 9 3.53 % Total commercial $53,976 $654 1.21 % $49,309 $740 1.50 % IRE mortgage 5,892 90 1.53 % 5,441 77 1.41 % IRE construction 1,720 11 0.61 % 1,586 10 0.61 % Total IRE $7,612 $101 1.33 % $7,027 $87 1.23 % Residential first mortgage 17,892 120 0.67 % 17,512 122 0.70 % Home equity lines 3,550 72 2.02 % 3,744 83 2.23 % Home equity loans 2,524 27 1.06 % 2,510 28 1.13 % Consumer credit card 1,172 127 10.86 % 1,184 120 10.15 % Other consumer- exit portfolios 775 55 7.09 % 1,071 64 6.00 % Other consumer 5,957 358 6.01 % 5,427 330 6.07 % Total consumer $31,870 $759 2.38 % $31,448 $747 2.38 % Total $93,458 $1,514 1.62 % $87,784 $1,574 1.79 % Allowance allocation

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24 2Q19 2Q22 Commercial Portfolio Migrates to Lower Risk 35 Bps Commercial Portfolio Probability of Default All Other Commercial 17.4% Investor Real Estate 12.4% Govt. Education 10.3% Financial Services 10.2%CRE Unsecured 9.4% Consumer Services 9.5% Manufacturing 8.4% Business Services 7.8% Technology Services 7.4% Distribution 7.2% 2Q21 2Q22 Well positioned for next downturn $61.6B 30% Commercial IG Equivalent Balances Highly Diversified Business Portfolio(1) 26% 45% 17% 12% 32% 46% 15% 7% 37% 47% 12% 4% 2Q 2012 2Q 2017 2Q 2022 Investment Grade Solid Pass Low Pass Criticized (1) Balances as of 6/30/22. (2) All other commercial categories consist of sub-components less than 7% each. (2)

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25 Consumer lending portfolio statistics • Avg. origination FICO 760 • Current LTV 52% • 98% owner occupied • Avg. origination FICO 778 • Current LTV 34% • 71% of portfolio is 1st lien • Avg. loan size $36,270 • $63M to convert to amortizing or balloon during 2022 • Avg. origination FICO 761 • Avg. new loan $18,003 • Avg. origination FICO 754 • 2Q22 Yield 5.93% • 2Q22 QTD NCO 0.80% • Avg. origination FICO 750 • Avg. new line $6,243 • 2Q22 Yield 12.38% • 2Q22 QTD NCO 2.70% 3% 4% 4%5% 11% 7% 9% 17% 10% 81% 64% 76% 2% 4% 3% Cons R/E secured Cons non-R/E secured Total consumer Not Available Above 720 620-680 Below 620 681-720 Consumer FICO Scores(1) (1) Refreshed FICO scores as of 6/30/2022. (2) Other Consumer Unsecured consists of Direct, SoFi, and EnerBank portfolios. Residential Mortgage Consumer - Exit Portfolios Consumer Credit Card Home Equity Other Consumer Unsecured(2)

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26 Environmental, Social & Governance ESG Governance ESG-related elements of the Strategic Plan, annual budget, and capital planning processBOARD OF DIRECTORS Board-Level Committees NCG Committee ESG strategies, initiatives, policies, and practices, along with related voluntary disclosures and stakeholder engagement Risk Committee ESG alignment within Enterprise Risk Appetite Statement, Risk Management Framework, and Risk Library CHR Committee Associate compensation and benefits, corporate culture, DEI practices, talent management, and succession planning Audit Committee Functioning of Company's internal controls and disclosure of material ESG matters Technology Committee Company culture and strategy related to technological and digital innovation Management-Level Committees Executive Leadership Team Evaluates ESG considerations within strategic planning ESG Leadership Council Maintains aggregated view of ESG-related risks and opportunities and provides guidance and direction on internal initiatives; overseen by Executive Leadership Team Disclosure Review Committee Reviews and provides feedback on ESG-related disclosures in SEC reporting and voluntary ESG disclosures Risk Governance Committees Review ESG-related metrics' performance to assess adherence to risk tolerance; supervise enterprise risk assessments incorporating ESG risks O V E R S I G H T E X E C U T I O N Suite of ESG Disclosures ■ Annual Review & ESG Report ■ TCFD Report ■ GRI Content Index ■ CDP Climate Change Questionnaire Response ■ SASB Disclosure ■ Community Engagement Report ■ Workforce Demographics Report All resources are available through our ESG Resource Center, accessible at ir.regions.com/governance A majority of our 11 Directors have identified themselves as having considerable or extensive experience in key ESG areas: Corporate Governance Customer Focus and Community Engagement Environmental Sustainability Practices Executive Compensation and Benefits Human Capital Management 11 11 10 8 9

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27 Environmental, Social & Governance Highlights Promoting financial inclusivity Pursuing environmental sustainability Maintaining accountability for our ESG progress AA ESG Rating LOW ESG Risk Rating 70 Top 10% in industry S&P 500 ESG Index ▪ Established cross-functional ESG Leadership Council overseen by Executive Leadership Team ▪ Further incorporated ESG elements into enterprise-wide and business-level strategic planning process ▪ Integrated direct references to ESG-related risks into Risk Library and risk tolerance ▪ Onboarded new diverse Director and transitioned to diverse Audit Committee Chair ▪ Introduced Regions Now CheckingSM to suite of Regions Now Banking® products ▪ Surpassed 2-year, $12 million commitment to advancing programs and initiatives that promote racial equity and economic empowerment for communities of color ▪ Supported customers wanting to build savings through Regions' Spend & Save Program ▪ Announced new goal to reduce our gross Scope 1 and Scope 2 location- based carbon emissions by 50% by 2030 ▪ Initiated plans to explore methodologies and approaches to evaluate our Scope 3 portfolio emissions ▪ Committed to advancing a sustainable finance definition and methodology ▪ Released first standalone TCFD Report ▪ Published first Workforce Demographics Report ▪ Enhanced transparency around compensation plans and related determinations and decisions ▪ Completed third-party verification for 2020 greenhouse gas inventory Promoting a diverse, equitable, and inclusive work environment Maturing our governance around ESG risks and opportunities ▪ Further expanded our DEI Networks to 19 Networks in total, including a network for associates joining via acquired subsidiaries ▪ Implemented internal mobility strategies for associate development ▪ Devoted resources to identify and develop diverse talent

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28 Management uses pre-tax pre-provision income (non-GAAP) and adjusted pre-tax pre-provision income (non-GAAP), as well as the adjusted efficiency ratio (non-GAAP) and the adjusted fee income ratio (non-GAAP) to monitor performance and believes these measures provide meaningful information to investors. Non-interest expense (GAAP) is presented excluding certain adjustments to arrive at adjusted non-interest expense (non-GAAP), which is the numerator for the efficiency ratio. Non-interest income (GAAP) is presented excluding certain adjustments to arrive at adjusted non-interest income (non-GAAP), which is the numerator for the fee income ratio. Adjusted non-interest income (non-GAAP) and adjusted non-interest expense (non- GAAP) are used to determine adjusted pre-tax pre-provision income (non-GAAP). Net interest income (GAAP) on a taxable-equivalent basis and non-interest income are added together to arrive at total revenue on a taxable-equivalent basis. Adjustments are made to arrive at adjusted total revenue on a taxable-equivalent basis (non-GAAP), which is the denominator for the fee income and efficiency ratios. Regions believes that the exclusion of these adjustments provides a meaningful base for period-to-period comparisons, which management believes will assist investors in analyzing the operating results of the Company and predicting future performance. These non-GAAP financial measures are also used by management to assess the performance of Regions’ business. It is possible that the activities related to the adjustments may recur; however, management does not consider the activities related to the adjustments to be indications of ongoing operations. Regions believes that presentation of these non-GAAP financial measures will permit investors to assess the performance of the Company on the same basis as that applied by management. Tangible common stockholders’ equity ratios have become a focus of some investors and management believes they may assist investors in analyzing the capital position of the Company absent the effects of intangible assets and preferred stock. Analysts and banking regulators have assessed Regions’ capital adequacy using the tangible common stockholders’ equity measure. Because tangible common stockholders’ equity is not formally defined by GAAP or prescribed in any amount by federal banking regulations it is currently considered to be a non- GAAP financial measure and other entities may calculate it differently than Regions’ disclosed calculations. Since analysts and banking regulators may assess Regions’ capital adequacy using tangible common stockholders’ equity, management believes that it is useful to provide investors the ability to assess Regions’ capital adequacy on this same basis. Non-GAAP financial measures have inherent limitations, are not required to be uniformly applied and are not audited. Although these non-GAAP financial measures are frequently used by stakeholders in the evaluation of a company, they have limitations as analytical tools, and should not be considered in isolation, or as a substitute for analyses of results as reported under GAAP. In particular, a measure of earnings that excludes selected items does not represent the amount that effectively accrues directly to stockholders. Management and the Board of Directors utilize non-GAAP measures as follows: • Preparation of Regions' operating budgets • Monthly financial performance reporting • Monthly close-out reporting of consolidated results (management only) • Presentation to investors of company performance • Metrics for incentive compensation Non-GAAP information

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29 Non-GAAP reconciliation Core net interest income and adjusted net interest margin Quarter-ended 6/30/2022 3/31/2022 12/31/2021 9/30/2021 6/30/2021 Net interest margin (FTE) (GAAP) 3.06 % 2.85 % 2.83 % 2.76 % 2.81 % Impact of SBA PPP loans (0.01) % (0.02) % (0.09) % (0.05) % (0.05) % Impact of excess cash 0.39 % 0.60 % 0.60 % 0.59 % 0.55 % Adjusted net interest margin (FTE) (non-GAAP) 3.44 % 3.43 % 3.34 % 3.30 % 3.31 %

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30 Non-GAAP reconciliation Non-interest expense Year Ended December 31 ($ amounts in millions) 2021 2020 2019 2018 2017 2016 Non-interest expense (GAAP) $ 3,747 $ 3,643 $ 3,489 $ 3,570 $ 3,491 $ 3,483 Adjustments: Contribution to Regions Financial Corporation foundation (3) (10) — (60) (40) — Professional, legal and regulatory expenses (15) (7) — — — (3) Branch consolidation, property and equipment charges (5) (31) (25) (11) (22) (58) Expenses associated with residential mortgage loan sale — — — (4) — — Loss on early extinguishment of debt (20) (22) (16) — — (14) Salary and employee benefits—severance charges (6) (31) (5) (61) (10) (21) Acquisition Expense — (1) — — — — Adjusted non-interest expense (non-GAAP) $ 3,698 $ 3,541 $ 3,443 $ 3,434 $ 3,419 $ 3,387

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31 Non-GAAP reconciliation Pre-tax pre-provision income (PPI) Quarter Ended ($ amounts in millions) 6/30/2022 3/31/2022 12/31/2021 9/30/2021 6/30/2021 2Q22 vs. 1Q22 2Q22 vs. 2Q21 Net income (loss) available to common shareholders (GAAP) $ 558 $ 524 $ 414 $ 624 $ 748 $ 34 6.5 % $ (190) (25.4) % Preferred dividends and other (GAAP) 25 24 24 27 42 1 4.2 % (17) (40.5) % Income tax expense (benefit) (GAAP) 157 154 103 180 231 3 1.9 % (74) (32.0) % Income (loss) before income taxes (GAAP) 740 702 541 831 1,021 38 5.4 % (281) (27.5) % Provision for (benefit from) credit losses (GAAP) 60 (36) 110 (155) (337) 96 266.7 % 397 117.8 % Pre-tax pre-provision income (non-GAAP) 800 666 651 676 684 134 20.1 % 116 17.0 % Other adjustments: Securities (gains) losses, net — — — (1) (1) — NM 1 NM Leveraged lease termination gains, net — (1) — (2) — 1 100.0 % — NM Bank-owned life insurance — — — — (18) — NM 18 100.0 % Salaries and employee benefits—severance charges — — 1 — 2 — NM (2) (100.0) % Branch consolidation, property and equipment charges (6) 1 — — — (7) NM (6) NM Contribution to the Regions Financial Corporation foundation — — — — 1 — NM (1) (100.0) % Loss on early extinguishment of debt — — — 20 — — NM — NM Professional, legal and regulatory expenses — — 15 — — — NM — NM Total other adjustments (6) — 16 17 (16) (6) NM 10 62.5 % Adjusted pre-tax pre-provision income (non-GAAP) $ 794 $ 666 $ 667 $ 693 $ 668 $ 128 19.2 % $ 126 18.9 % NM - Not Meaningful

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32 Non-GAAP reconciliation NII, non-interest income/expense, and efficiency ratio NM - Not Meaningful Quarter Ended ($ amounts in millions) 6/30/2022 3/31/2022 12/31/2021 9/30/2021 6/30/2021 2Q22 vs. 1Q22 2Q22 vs. 2Q21 Non-interest expense (GAAP) A $ 948 $ 933 $ 983 $ 938 $ 898 $ 15 1.6 % $ 50 5.6 % Adjustments: Contribution to the Regions Financial Corporation foundation — — — — (1) — NM 1 100.0 Branch consolidation, property and equipment charges 6 (1) — — — 7 NM 6 NM Salary and employee benefits—severance charges — — (1) — (2) — NM 2 100.0 % Loss on early extinguishment of debt — — — (20) — — NM — NM Professional, legal and regulatory expenses — — (15) — — — NM — NM Adjusted non-interest expense (non-GAAP) B $ 954 $ 932 $ 967 $ 918 $ 895 $ 22 2.4 % $ 59 6.6 % Net interest income (GAAP) C $ 1,108 $ 1,015 $ 1,019 $ 965 $ 963 $ 93 9.2 % 145 15.1 % Taxable-equivalent adjustment 11 11 10 11 12 — — % (1) (8.3) % Net interest income, taxable-equivalent basis D $ 1,119 $ 1,026 $ 1,029 $ 976 $ 975 $ 93 9.1 % $ 144 14.8 % Non-interest income (GAAP) E 640 584 615 649 619 56 9.6 % 21 3.4 % Adjustments: Securities (gains) losses, net — — — (1) (1) — NM 1 100.0 % Leveraged lease termination gains — (1) — (2) — 1 100.0 % — NM Bank-owned life insurance — — — — (18) — NM 18 100.0 % Adjusted non-interest income (non-GAAP) F $ 640 $ 583 $ 615 $ 646 $ 600 57 9.78 % 40 6.7 % Total revenue C+E=G $ 1,748 $ 1,599 $ 1,634 $ 1,614 $ 1,582 $ 149 9.3 % $ 166 10.5 % Adjusted total revenue (non-GAAP) C+F=H $ 1,748 $ 1,598 $ 1,634 $ 1,611 $ 1,563 $ 150 9.4 % $ 185 11.8 % Total revenue, taxable-equivalent basis D+E=I $ 1,759 $ 1,610 $ 1,644 $ 1,625 $ 1,594 $ 149 9.3 % $ 165 10.4 % Adjusted total revenue, taxable-equivalent basis (non-GAAP) D+F=J $ 1,759 $ 1,609 $ 1,644 $ 1,622 $ 1,575 $ 150 9.3 % $ 184 11.7 % Efficiency ratio (GAAP) A/I 53.9 % 57.9 % 59.8 % 57.7 % 56.4 % Adjusted efficiency ratio (non-GAAP) B/J 54.2 % 57.9 % 58.8 % 56.6 % 56.9 % Fee income ratio (GAAP) E/I 36.4 % 36.3 % 37.4 % 40.0 % 38.8 % Adjusted fee income ratio (non-GAAP) F/J 36.4 % 36.2 % 37.4 % 39.8 % 38.1 %

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33 Non-GAAP reconciliation Return on average tangible common shareholders' equity Quarter Ended ($ amounts in millions) 6/30/2022 3/31/2022 12/31/2021 9/30/2021 6/30/2021 RETURN ON AVERAGE TANGIBLE COMMON SHAREHOLDERS' EQUITY Net income available to common shareholders A $ 558 $ 524 $ 414 $ 624 $ 748 Average shareholders' equity $ 16,404 $ 17,717 $ 18,308 $ 18,453 $ 18,000 Less: Average intangible assets 6,034 6,043 5,852 5,285 5,292 Average deferred tax liability related to intangibles (101) (100) (98) (96) (96) Average preferred stock 1,659 1,659 1,660 1,659 1,659 Average tangible common shareholders' equity B $ 8,812 $ 10,115 $ 10,894 $ 11,605 $ 11,145 Return on average tangible common shareholders' equity *(1) A/B 25.40 % 21.00 % 15.07 % 21.34 % 26.91 % *Annualized (1) Amounts have been calculated using whole dollar values.

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34 Forward-Looking Statements This presentation may include forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not based on historical information, but rather are related to future operations, strategies, financial results or other developments. Forward-looking statements are based on management’s current expectations as well as certain assumptions and estimates made by, and information available to, management at the time the statements are made. Those statements are based on general assumptions and are subject to various risks, and because they also relate to the future they are likewise subject to inherent uncertainties and other factors that may cause actual results to differ materially from the views, beliefs and projections expressed in such statements. Therefore, we caution you against relying on any of these forward-looking statements. These risks, uncertainties and other factors include, but are not limited to, those described below: • Current and future economic and market conditions in the United States generally or in the communities we serve (in particular the Southeastern United States), including the effects of possible declines in property values, increases in unemployment rates, financial market disruptions and potential reductions of economic growth, which may adversely affect our lending and other businesses and our financial results and conditions. • Possible changes in trade, monetary and fiscal policies of, and other activities undertaken by, governments, agencies, central banks and similar organizations, which could have a material adverse effect on our earnings. • Possible changes in market interest rates or capital markets could adversely affect our revenue and expense, the value of assets and obligations, and the availability and cost of capital and liquidity. • The impact of pandemics, including the ongoing COVID-19 pandemic, on our businesses, operations, and financial results and conditions. The duration and severity of any pandemic, including the COVID-19 pandemic, could disrupt the global economy, adversely affect our capital and liquidity position, impair the ability of borrowers to repay outstanding loans and increase our allowance for credit losses, impair collateral values, and result in lost revenue or additional expenses. • Any impairment of our goodwill or other intangibles, any repricing of assets, or any adjustment of valuation allowances on our deferred tax assets due to changes in tax law, adverse changes in the economic environment, declining operations of the reporting unit or other factors. • The effect of new tax legislation and/or interpretation of existing tax law, which may impact our earnings, capital ratios, and our ability to return capital to shareholders. • Possible changes in the creditworthiness of customers and the possible impairment of the collectability of loans and leases, including operating leases. • Changes in the speed of loan prepayments, loan origination and sale volumes, charge-offs, credit loss provisions or actual credit losses where our allowance for credit losses may not be adequate to cover our eventual losses. • Possible acceleration of prepayments on mortgage-backed securities due to low interest rates, and the related acceleration of premium amortization on those securities. • Loss of customer checking and savings account deposits as customers pursue other, higher-yield investments, which could increase our funding costs. • Possible changes in consumer and business spending and saving habits and the related effect on our ability to increase assets and to attract deposits, which could adversely affect our net income. • Our ability to effectively compete with other traditional and non-traditional financial services companies, including fintechs, some of whom possess greater financial resources than we do or are subject to different regulatory standards than we are. • Our inability to develop and gain acceptance from current and prospective customers for new products and services and the enhancement of existing products and services to meet customers’ needs and respond to emerging technological trends in a timely manner could have a negative impact on our revenue. • Our inability to keep pace with technological changes, including those related to the offering of digital banking and financial services, could result in losing business to competitors. • Changes in laws and regulations affecting our businesses, including legislation and regulations relating to bank products and services, as well as changes in the enforcement and interpretation of such laws and regulations by applicable governmental and self-regulatory agencies, including as a result of the changes in U.S. presidential administration, control of the U.S. Congress, and changes in personnel at the bank regulatory agencies, which could require us to change certain business practices, increase compliance risk, reduce our revenue, impose additional costs on us, or otherwise negatively affect our businesses. • Our capital actions, including dividend payments, common stock repurchases, or redemptions of preferred stock, must not cause us to fall below minimum capital ratio requirements, with applicable buffers taken into account, and must comply with other requirements and restrictions under law or imposed by our regulators, which may impact our ability to return capital to shareholders. Forward-looking statements

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35 • Our ability to comply with stress testing and capital planning requirements (as part of the CCAR process or otherwise) may continue to require a significant investment of our managerial resources due to the importance of such tests and requirements. • Our ability to comply with applicable capital and liquidity requirements (including, among other things, the Basel III capital standards), including our ability to generate capital internally or raise capital on favorable terms, and if we fail to meet requirements, our financial condition and market perceptions of us could be negatively impacted. • The effects of any developments, changes or actions relating to any litigation or regulatory proceedings brought against us or any of our subsidiaries. • The costs, including possibly incurring fines, penalties, or other negative effects (including reputational harm) of any adverse judicial, administrative, or arbitral rulings or proceedings, regulatory enforcement actions, or other legal actions to which we or any of our subsidiaries are a party, and which may adversely affect our results. • Our ability to manage fluctuations in the value of assets and liabilities and off-balance sheet exposure so as to maintain sufficient capital and liquidity to support our businesses. • Our ability to execute on our strategic and operational plans, including our ability to fully realize the financial and nonfinancial benefits relating to our strategic initiatives. • The risks and uncertainties related to our acquisition or divestiture of businesses, including our recently completed acquisitions of EnerBank, Sabal, and Clearsight, and risks related to such acquisitions, including that the expected synergies, cost savings and other financial or other benefits may not be realized within the expected timeframes, or might be less than projected; difficulties in integrating the businesses; and the inability of Regions to effectively cross-sell products following these acquisitions. • The success of our marketing efforts in attracting and retaining customers. • Our ability to recruit and retain talented and experienced personnel to assist in the development, management and operation of our products and services may be affected by changes in laws and regulations in effect from time to time. • Fraud or misconduct by our customers, employees or business partners. • Any inaccurate or incomplete information provided to us by our customers or counterparties. • Inability of our framework to manage risks associated with our businesses, such as credit risk and operational risk, including third-party vendors and other service providers, which could, among other things, result in a breach of operating or security systems as a result of a cyber attack or similar act or failure to deliver our services effectively. • Dependence on key suppliers or vendors to obtain equipment and other supplies for our businesses on acceptable terms. • The inability of our internal controls and procedures to prevent, detect or mitigate any material errors or fraudulent acts. • The effects of geopolitical instability, including wars, conflicts, civil unrest, and terrorist attacks and the potential impact, directly or indirectly, on our businesses. • The effects of man-made and natural disasters, including fires, floods, droughts, tornadoes, hurricanes, and environmental damage (specifically in the Southeastern United States), which may negatively affect our operations and/or our loan portfolios and increase our cost of conducting business. The severity and frequency of future earthquakes, fires, hurricanes, tornadoes, droughts, floods and other weather-related events are difficult to predict and may be exacerbated by global climate change. • Changes in commodity market prices and conditions could adversely affect the cash flows of our borrowers operating in industries that are impacted by changes in commodity prices (including businesses indirectly impacted by commodities prices such as businesses that transport commodities or manufacture equipment used in the production of commodities), which could impair their ability to service any loans outstanding to them and/or reduce demand for loans in those industries. • Our ability to identify and address cyber-security risks such as data security breaches, malware, ransomware, “denial of service” attacks, “hacking” and identity theft, including account take-overs, a failure of which could disrupt our businesses and result in the disclosure of and/or misuse or misappropriation of confidential or proprietary information, disruption or damage to our systems, increased costs, losses, or adverse effects to our reputation. • Our ability to achieve our expense management initiatives. Forward-looking statements (continued)

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36 • Market replacement of LIBOR and the related effect on our LIBOR-based financial products and contracts, including, but not limited to, derivative products, debt obligations, deposits, investments, and loans. • Possible downgrades in our credit ratings or outlook could, among other negative impacts, increase the costs of funding from capital markets. • The effects of problems encountered by other financial institutions that adversely affect us or the banking industry generally could require us to change certain business practices, reduce our revenue, impose additional costs on us, or otherwise negatively affect our businesses. • The effects of the failure of any component of our business infrastructure provided by a third party could disrupt our businesses, result in the disclosure of and/or misuse of confidential information or proprietary information, increase our costs, negatively affect our reputation, and cause losses. • Our ability to receive dividends from our subsidiaries, in particular Regions Bank, could affect our liquidity and ability to pay dividends to shareholders. • Changes in accounting policies or procedures as may be required by the FASB or other regulatory agencies could materially affect our financial statements and how we report those results, and expectations and preliminary analyses relating to how such changes will affect our financial results could prove incorrect. • Fluctuations in the price of our common stock and inability to complete stock repurchases in the time frame and/or on the terms anticipated. • The effects of anti-takeover and exclusive forum laws and provision in our certificate of incorporation and bylaws. • The effects of any damage to our reputation resulting from developments related to any of the items identified above. • Other risks identified from time to time in reports that we file with the SEC. The foregoing list of factors is not exhaustive. For discussion of these and other factors that may cause actual results to differ from expectations, look under the captions “Forward-Looking Statements” and “Risk Factors” of Regions’ Annual Report on Form 10-K for the year ended December 31, 2021 and the "Risk Factors" of Regions' Quarterly Report on Form 10-Q for the quarter ended March 31, 2022, as filed with the SEC. Forward-looking statements are subject to the risk that the actual effects may differ, possibly materially, from what is reflected in those forward-looking statements due to factors and future developments that are uncertain, unpredictable and in many cases beyond our control, including the scope and duration of the COVID-19 pandemic (including the impact of additional variants and resurgences), the effectiveness, availability and acceptance of any vaccines or therapies, and the direct and indirect impact of the COVID-19 pandemic on our customers, third parties and us. The words “future,” “anticipates,” “assumes,” “intends,” “plans,” “seeks,” “believes,” “predicts,” “potential,” “objectives,” “estimates,” “expects,” “targets,” “projects,” “outlook,” “forecast,” “would,” “will,” “may,” “might,” “could,” “should,” “can,” and similar terms and expressions often signify forward-looking statements. You should not place undue reliance on any forward-looking statements, which speak only as of the date made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible to predict all of them. We assume no obligation and do not intend to update or revise any forward-looking statements that are made from time to time, either as a result of future developments, new information or otherwise, except as may be required by law. Regions’ Investor Relations contact is Dana Nolan at (205) 264-7040; Regions’ Media contact is Jeremy King at (205) 264-4551. Forward-looking statements (continued)

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