Internal Documents

. FOR IMMEDIATE RELEASE MEDIA CONTACT: Nikki Klemmer, 615-743-6132 FINANCIAL CONTACT: Harold Carpenter, 615-744-3742 WEBSITE: www.pnfp.com PNFP REPORTS DILUTED EARNINGS PER SHARE OF $0.73 FOR 2Q 2016 Excluding merger-related charges, diluted EPS was $0.75 for 2Q 2016 NASHVILLE, TN, July 19, 2016 – Pinnacle Financial Partners, Inc. (Nasdaq/NGS: PNFP) reported net income per diluted common share of $0.73 for the quarter ended June 30, 2016, compared to net income per diluted common share of $0.64 for the quarter ended June 30, 2015, an increase of 14.1 percent. Net income per diluted common share was $1.42 for the six months ended June 30, 2016, compared to net income per diluted common share of $1.25 for the six months ended June 30, 2015, an increase of 13.6 percent. Excluding pre-tax merger-related charges of $980,000 and $2.8 million for the three and six months ended June 30, 2016, net income per diluted common share was $0.75 and $1.46, respectively, compared to $0.64 and $1.26 for the three and six months ended June 30, 2015, excluding merger related charges, or an increase of 17.2 percent and 15.9 percent, respectively, over the same periods last year. “We are very pleased to announce our 23rd consecutive quarter of increased core earnings,” said M. Terry Turner, Pinnacle’s president and chief executive officer. “Thus far, 2016 has been a very eventful year for our firm. In terms of our mergers and acquisitions, we successfully closed the Avenue Financial Holdings, Inc. (Avenue) transaction on July 1, five months after announcement, and increased our ownership of Bankers Healthcare Group (BHG) from 30 percent to 49 percent on March 1. Both are excellent acquisitions that enhance the growth profile of our firm in a substantial way. BHG had a great quarter and is on track to meet our original accretion estimates of more than 2 percent in 2016. Avenue Bank has a great reputation and further increases our stature and position in Nashville, a banking market that many believe to be one of the best in the country. In addition to our successful merger and integration activities, we also continue to ramp up our recruiting efforts. So far we have Page 2 attracted 29 revenue producers to our firm this year, compared to 36 hired in all of 2015, which is a substantial increase in growth capacity.” GROWING THE CORE EARNINGS CAPACITY OF THE FIRM: • Revenues for the quarter ended June 30, 2016 were a record $107.8 million, an increase of $8.0 million from the first quarter of 2016. Revenues increased 50.0 percent over the same quarter last year. • Loans at June 30, 2016 were a record $7.091 billion, an increase of $263.5 million from March 31, 2016 and $2.261 billion from June 30, 2015, reflecting a current year annualized growth rate of 16.8 percent and year-over-year growth of 46.8 percent. • Average deposit balances for the quarter ended June 30, 2016 were a record $7.093 billion, an increase of $56.3 million from March 31, 2016 and $2.209 billion from June 30, 2015, reflecting a current year annualized growth rate of 9.0 percent and year- over-year growth of 45.2 percent. “Net loan growth of $263.5 million during the second quarter represented a 46.8 percent increase over the same quarter last year,” Turner said. “We continue to believe low to mid double-digit percentage year-over-year organic loan growth is a reasonable expectation for the remainder of 2016 and 2017. We continue to make progress in our relatively new Chattanooga and Memphis markets. Net loans in Chattanooga have increased 5.9 percent since the CapitalMark acquisition closed in July 2015, and net loans in Memphis have increased 41.4 percent since the Magna acquisition closed in September 2015. We’ve also increased our investment in both markets, having added nine revenue producers in Chattanooga and 17 in Memphis since the respective acquisition dates.” FOCUSING ON PROFITABILITY: • The firm’s net interest margin was 3.72 percent for the quarter ended June 30, 2016, compared to 3.78 percent last quarter and 3.65 percent for the quarter ended June 30, 2015. • Return on average assets was 1.33 percent for the second quarter of 2016, compared to 1.27 percent for the first quarter of 2016 and 1.44 percent for the same quarter last year. Excluding merger-related charges, return on average assets was Page 3 1.36 percent for the second quarter of 2016, compared to 1.32 percent for the first quarter of 2016 and 1.44 percent for the same quarter last year. • Second quarter 2016 return on average equity amounted to 9.92 percent, compared to 9.47 percent for the first quarter of 2016 and 10.86 percent for the same quarter last year. Second quarter 2016 return on average tangible equity amounted to 15.34 percent, compared to 15.04 percent for the first quarter of 2016 and 15.39 percent for the same quarter last year. Excluding merger-related charges, return on average tangible equity amounted to 15.64 percent for the second and first quarters of 2016, compared to 15.44 percent and 15.56 percent for the same quarters last year, respectively. “The second quarter represented another strong quarter of profitability for our firm,” said Harold R. Carpenter, Pinnacle’s chief financial officer. “We anticipated a slight dilution in our net interest margin this quarter as the impact of the loan marks from the CapitalMark and Magna acquisitions declines. Purchase accounting has contributed approximately 0.20 percent to our net interest margin in the first half of 2016. We anticipate the integration of Avenue’s results into Pinnacle’s results to have a slightly dilutive effect to several of our profitability metrics going forward. However, as we highlighted in our announcement of the merger this past January, we still anticipate that we will experience accretion of 1 to 2 percent in diluted earnings per share in 2016 as a result of the Avenue merger and 3 to 4 percent accretion in 2017, in each case excluding the effect of merger-related charges, even after incurring the negative impacts associated with crossing the $10 billion asset threshold.” OTHER SECOND QUARTER 2016 HIGHLIGHTS: • Revenue growth o Net interest income for the quarter ended June 30, 2016 increased to $75.0 million, compared to $73.9 million for the first quarter of 2016 and $51.8 million for the second quarter of 2015. o Noninterest income for the quarter ended June 30, 2016 increased to $32.7 million, compared to $25.9 million for the first quarter of 2016 and $20.0 million for the same quarter last year. Page 4  Income from the firm’s investment in BHG was $9.6 million for the quarter ended June 30, 2016, compared to $5.1 million for the quarter ended March 31, 2016 and $4.3 million for the second quarter last year. The firm’s investment in BHG contributed slightly less than $0.11 in diluted earnings per share in the second quarter of 2016, compared to $0.06 in the first quarter of 2016 and $0.07 for the second quarter last year.  Net gains from the sale of mortgage loans were $4.2 million for the quarter ended June 30, 2016, compared to $3.6 million for the first quarter of 2016 and $1.7 million for the quarter ended June 30, 2015. The year-over-year growth rate was 155.5 percent, which was attributable to both an increase in the number of mortgage originators as well as the positive impact of the low interest rate environment on mortgage production and the pipeline hedge. New home mortgage originations accounted for 68.7 percent of the firm’s net gain on mortgage loan sale volumes in the second quarter of 2016.  Wealth management revenues, which include investment, trust and insurance services, were $5.2 million for the quarter ended June 30, 2016, compared to $5.6 million for the first quarter of 2016 and $4.7 million for the quarter ended June 30, 2015, resulting in a year-over- year growth rate of 9.5 percent. “With our significant loan growth, net interest income in the second quarter of 2016 increased over the first quarter of 2016 despite the slight dilution in our net interest margin,” Carpenter said. “BHG’s contribution in the second quarter was a record for us, reflecting a full quarter of our increased ownership as well as their pipelines rebuilding and their business model gaining increased momentum. Mortgage revenues were also a record for us this quarter, as we now have 43 mortgage originators in our four primary markets, compared to 20 this time last year in just Nashville and Knoxville. Lastly, we believe the integration of Avenue in our revenue base will serve to increase our quarterly revenue run rates going forward, providing us further opportunities to increase operating leverage in future periods.” Page 5 • Noninterest expense o Noninterest expense for the quarter ended June 30, 2016 was $55.9 million, compared to $54.1 million in the first quarter of 2016 and $36.7 million in the second quarter last year.  Salaries and employee benefits were $34.3 million in the second quarter of 2016, compared to $32.5 million in the first quarter of 2016 and $23.8 million in the second quarter last year, reflecting a year-over- year increase of 44.1 percent due to the impact of both the CapitalMark and Magna mergers, as well as continued increases in recruiting in our primary markets. Additionally, costs associated with the firm’s annual cash incentive plan amounted to $5.3 million in the second quarter of 2016, compared to $3.6 million in the second quarter of 2015 and $3.2 million in the first quarter of 2016.  Pre-tax merger-related charges were approximately $980,000 during the quarter ended June 30, 2016 compared to $59,000 in the second quarter of 2015. The firm will continue to incur merger-related charges as it completes the Avenue integration later this year.  The efficiency ratio for the second quarter of 2016 decreased to 51.9 percent from 54.2 percent in the first quarter of 2016, and the ratio of noninterest expenses to average assets decreased to 2.42 percent from 2.46 percent in the first quarter of 2016. Excluding merger-related charges and ORE expense, the efficiency ratio decreased from 52.2 percent to 50.8 percent between the first and second quarters of 2016, while the ratio of noninterest expenses to average assets remained at 2.37 percent for both periods.  The firm’s headcount decreased to 1,061 FTE’s at June 30, 2016, down from 1,075 FTE’s at March 31, 2016, but was up from 800.5 FTE’s at June 30, 2015. “Our expense run rates will obviously increase with the integration of the Avenue acquisition,” Carpenter said. “Because the technology conversion for Avenue is currently scheduled for late in the third quarter, we should begin to realize additional cost savings from Page 6 the Avenue merger in the fourth quarter of 2016. Currently, we do not believe that our core expense run rates will increase meaningfully this year, other than from the Avenue acquisition and the impact of our hiring initiatives.” • Asset quality o Nonperforming assets decreased to 0.55 percent of total loans and ORE at June 30, 2016, compared to 0.70 percent at March 31, 2016 and increased slightly from 0.53 percent at June 30, 2015. Nonperforming assets decreased to $39.0 million at June 30, 2016, compared to $47.9 million at March 31, 2016 and increased from $25.8 million at June 30, 2015. o The allowance for loan losses represented 0.87 percent of total loans at June 30, 2016, compared to 0.91 percent at March 31, 2016 and 1.36 percent at June 30, 2015.  The ratio of the allowance for loan losses to nonperforming loans was 181.8 percent at June 30, 2016, compared to 146.4 percent at March 31, 2016 and 373.6 percent at June 30, 2015.  Net charge-offs were $6.1 million for the quarter ended June 30, 2016, compared to $7.1 million for the first quarter of 2016 and $1.9 million for the quarter ended June 30, 2015. Annualized net charge-offs as a percentage of average loans for the quarter ended June 30, 2016 were 0.35 percent, compared to 0.16 percent for the quarter ended June 30, 2015 and 0.42 percent for the first quarter of 2016.  Provision for loan losses increased to $5.3 million in the second quarter of 2016 from $3.9 million in the first quarter of 2016 and $1.2 million in the second quarter of 2015. “Last quarter we reported increased net charge-offs driven largely by our consumer auto portfolio,” Carpenter said. “The non-prime consumer auto portfolio continues to underperform with $4.1 million of net charge-offs in the second quarter of 2016. We anticipate improvement in the future performance of this portfolio going forward, since we have reduced portfolio balances in our non-prime portfolio from $56.9 million at March 31, 2016 to $43.5 million at June 30, 2016 and believe the underlying quality of the remaining portfolio appears to be stabilizing.” Page 7 AVENUE FINANCIAL HOLDINGS 2Q16 HIGHLIGHTS The merger of Pinnacle Financial Partners, Inc. and Avenue Financial Holdings, Inc. became effective on July 1, 2016. A summary of Avenue’s results for the second quarter of 2016 follows: • Avenue’s loans at June 30, 2016 were a record $982.1 million, an increase of $20.1 million from March 31, 2016 and $182.3 million from June 30, 2015, reflecting year- over-year growth of 22.8 percent. Avenue’s ratio of allowance for loan losses to total loans was 1.15 percent at June 30, 2016, compared to 1.14 percent at March 31, 2016 and 1.20 percent at June 30, 2015. • Average deposit balances were $953.5 million in the second quarter of 2016, compared to $963.2 million during the quarter ended March 31, 2016 and $821.6 million for the quarter ended June 30, 2015, reflecting year-over-year growth of 16.1 percent. Average demand deposit balances were $299.0 million in the second quarter of 2016 and represented approximately 31.4 percent of total average deposit balances for the quarter. Second quarter 2016 average noninterest-bearing deposits increased 12.6 percent over the same quarter last year. A summary of Avenue’s results for the second quarter of 2016 compared to the first quarter of 2016 and the second quarter of 2015 follows: (unaudited, dollars in thousands) Three months ended, June 30, 2016 March 31, 2016 June 30, 2015 Net interest income $ 9,041 $ 9,011 $ 8,015 Provision for loan losses 234 774 855 Noninterest income (excl. gains) 1,122 1,681 1,660 Gains on sales of securities 40 228 215 Noninterest expense (excl. merger) 6,788 7,206 6,758 Merger-related charges 545 801 - Net income before tax 2,636 2,139 2,277 Income tax expense 788 726 696 Net income $ 1,848 $ 1,413 $ 1,581 Page 8 • Avenue’s return on average assets was 0.62 percent for the second quarter of 2016, compared to 0.47 percent for the first quarter of 2016 and 0.56 percent for the same quarter last year. Avenue’s net interest margin was 3.26 percent for the quarter ended June 30, 2016, compared to 3.28 percent last quarter and 3.23 percent for the quarter ended June 30, 2015. Avenue’s efficiency ratio for the second quarter of 2016, was 72.2 percent, compared to 74.9 percent for the first quarter of 2016 and 73.4 percent in the second quarter of 2015. • Nonperforming assets were 0.04 percent of total loans and ORE at June 30, 2016, compared to 0.07 percent at March 31, 2016 and 0.45 percent at June 30, 2015. Avenue recorded no charge-offs during the three months ended June 30, 2016, compared to net recoveries of 0.02 percent for the first quarter of 2016. Net charge- offs amounted to 0.12 percent during the second quarter of 2015. BOARD OF DIRECTORS DECLARES DIVIDEND On July 19, 2016, Pinnacle’s Board of Directors increased the quarterly cash dividend to $0.14 per common share to be paid on Aug. 26, 2016 to common shareholders of record as of the close of business on Aug. 5, 2016. The amount and timing of any future dividend payments to common shareholders will be subject to the discretion of Pinnacle’s Board of Directors. WEBCAST AND CONFERENCE CALL INFORMATION Pinnacle will host a webcast and conference call at 8:30 a.m. (CDT) on July 20, 2016 to discuss second quarter 2016 results and other matters. To access the call for audio only, please call 1-877-602-7944. For the presentation and streaming audio, please access the webcast on the investor relations page of Pinnacle's website at www.pnfp.com . For those unable to participate in the webcast, it will be archived on the investor relations page of Pinnacle's website at www.pnfp.com for 90 days following the presentation. Pinnacle Financial Partners provides a full range of banking, investment, trust, mortgage and insurance products and services designed for businesses and their owners and individuals interested in a comprehensive relationship with their financial institution. The American Banker recognized Pinnacle as the third best bank to work for in the country in 2015. Page 9 The firm began operations in a single downtown Nashville location in October 2000 and has since grown to approximately $9.7 billion in assets at June 30, 2016. As the second-largest bank holding company headquartered in Tennessee, Pinnacle operates in the state’s four largest markets, Nashville, Memphis, Knoxville and Chattanooga, as well as several surrounding counties. Additional information concerning Pinnacle, which is included in the NASDAQ Financial-100 Index, can be accessed at www.pnfp.com. ### FORW ARD-LOOKING STATEMENTS This release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including those identified by the words “may,” “will,” “should,” “could,” “anticipate,” “believe,” “continue,” “estimate,” “expect,” “forecast,” “intend,” “plan,” “potential,” or “project” and similar expressions. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could cause the actual results to differ materially from the statements, including, but not limited to: • deterioration in the financial condition of borrowers resulting in significant increases in loan losses and provisions for those losses; • continuation of the historically low short-term interest rate environment; • the inability of Pinnacle Financial, or entities in which it has significant investments, like Bankers Healthcare Group (“BHG”), to maintain the historical growth rate of its, or such entities', loan portfolio; • changes in loan underwriting, credit review or loss reserve policies associated with economic conditions, examination conclusions, or regulatory developments; • effectiveness of Pinnacle Financial’s asset management activities in improving, resolving or liquidating lower-quality assets; • Increased competition with other financial institutions; • greater than anticipated adverse conditions in the national or local economies including the Nashville-Davidson-Murfreesboro- Franklin MSA, the Knoxville MSA, the Chattanooga, TN-GA MSA and the Memphis, TN-MS-AR MSA, particularly in commercial and residential real estate markets; • rapid fluctuations or unanticipated changes in interest rates on loans or deposits; • the results of regulatory examinations; • the ability to retain large, uninsured deposits; • a merger or acquisition; • ris ks of expansion into new geographic or product markets; • any matter that would cause Pinnacle Financial to conclude that there was impairment of any asset, including intangible assets; • reduced ability to attract additional financial advisors (or failure of such advisors to cause their clients to switch to Pinnacle Bank), to retain financial advisors or otherwise to attract customers from other financial institutions; • further deterioration in the valuation of other real estate owned and increased expenses associated therewith; • Inability to comply with regulatory capital requirements, including those resulting from changes to capital calculation methodologies and required capital maintenance levels; • risks associated with litigation, including the applicability of insurance coverage; • the risk that the cost savings and any revenue synergies from our recent mergers may not be realized or take longer than anticipated to be realized; • disruption from the Avenue merger with customers, suppliers or employee relationships; • the risk of successful integration of the businesses we have recently acquired with ours; • the amount of the costs, fees, expenses and charges related to the Avenue merger; • the risk of adverse reaction of Pinnacle Bank’s and Avenue's customers to the Avenue merger; • the risk that the integration of the operations of the companies we have recently acquired with Pinnacle Bank’s will be materially delayed or will be more costly or difficult than expected; • approval of the declaration of any dividend by Pinnacle Financial’s board of directors; • the vulnerability of Pinnacle Bank’s network and online banking portals to unauthorized access, computer viruses, phishing schemes, spam attacks, human error, natural disasters, power loss and other security breaches; • the possibility of increased compliance costs as a result of increased regulatory oversight, including oversight of companies in which Pinnacle Financial or Pinnacle Bank have significant investments, and the development of additional banking products for Pinnacle Bank’s corporate and consumer clients; • the risks associated with Pinnacle Financial and Pinnacle Bank being a minority investor in BHG, including the risk that the owners of a majority of the equity interests in BHG decide to sell the company if not prohibited from doing so by the terms of our agreement with them; • the possibility that the incremental cost and/or decreased revenues associated with exceeding $10 billion in assets will exceed current estimates; and • changes in state and federal legislation, regulations or policies applicable to banks and other financial service providers, including regulatory or legislative developments. Page 10 Additional factors which could affect the forward looking statements can be found in Pinnacle Financial’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K, filed with or furnished to the SEC and available on the SEC's website at http://www.sec.gov. Pinnacle Financial disclaims any obligation to update or revise any forward-looking statements contained in this release which speak only as of the date hereof, whether as a result of new information, future events or otherwise. Non-GAAP Financial Matters This release contains certain non-GAAP financial measures, including, without limitation, net income, earnings per diluted share, efficiency ratio, noninterest expense and the ratio of noninterest expense to average assets and noninterest expense to the sum of net interest income and noninterest income, in each case excluding the impact of expenses related to other real estate owned, gains or losses on sale of investments, FHLB prepayments and other matters for the accounting periods presented. This release also includes non-GAAP financial measures which exclude expenses associated with Pinnacle Bank’s mergers with CapitalMark Bank & Trust, Magna Bank and Avenue as well as Pinnacle Financial’s and its bank subsidiary’s investments in BHG. This release may also contain certain other non-GAAP capital ratios and performance measures. These non-GAAP financial measures exclude the impact of goodwill and core deposit intangibles associated with Pinnacle Financial’s acquisition of Magna Bank which Pinnacle Bank acquired on September 1, 2015, CapitalMark Bank & Trust which Pinnacle Bank acquired on July 31, 2015, Mid-America Bancshares, Inc. which Pinnacle Financial acquired on November 30, 2007, Cavalry Bancorp, Inc., which Pinnacle Financial acquired on March 15, 2006 and other acquisitions which collectively are less material to the non-GAAP measure. The presentation of the non-GAAP financial information is not intended to be considered in isolation or as a substitute for any measure prepared in accordance with GAAP. Because non-GAAP financial measures presented in this release are not measurements determined in accordance with GAAP and are susceptible to varying calculations, these non-GAAP financial measures, as presented, may not be comparable to other similarly titled measures presented by other companies. Pinnacle Financial believes that these non-GAAP financial measures facilitate making period-to-period comparisons and are meaningful indications of its operating performance. In addition, because intangible assets such as goodwill and the core deposit intangible, and the other items excluded each vary extensively from company to company, Pinnacle Financial believes that the presentation of this information allows investors to more easily compare Pinnacle Financial’s results to the results of other companies. Pinnacle Financial’s management utilizes this non-GAAP financial information to compare Pinnacle Financial’s operating performance for 2016 versus the comparable periods in 2015 and to internally prepared projections. June 30, 2016December 31, 2015June 30, 2015 ASSETS Cash and noninterest-bearing due from banks77,817,212$ 75,078,807$ 66,487,191$ Interest-bearing due from banks390,839,578 219,202,464 201,761,829 Federal funds sold and other 3,124,302 26,670,062 4,698,433 Cash and cash equivalents471,781,092 320,951,333 272,947,453 Securities available-for-sale, at fair value 1,109,221,784 935,064,745 806,221,152 Securities held-to-maturity (fair value of $29,092,450, $31,585,303 and $33,830,072, June 30, 2016, December 31, 2015 and June 30, 2015, respectively)28,511,599 31,376,840 33,914,863 Residential mortgage loans held-for-sale53,118,706 47,930,253 31,542,696 Commercial loans held-for-sale9,322,783 - - Loans7,091,401,512 6,543,235,381 4,830,353,621 Less allowance for loan losses (61,411,537) (65,432,354) (65,572,050) Loans, net7,029,989,975 6,477,803,027 4,764,781,571 Premises and equipment, net78,800,120 77,923,607 73,633,237 Equity method investment195,891,508 88,880,014 82,892,986 Accrued interest receivables23,432,495 21,574,096 17,125,955 Goodwill427,573,930 432,232,255 243,290,816 Core deposit and other intangible assets8,820,668 10,540,497 2,438,245 Other real estate owned5,005,642 5,083,218 6,792,503 Other assets 294,197,558 265,183,799 180,962,299 Total assets 9,735,667,860$ 8,714,543,684$ 6,516,543,776$ LIABILITIES AND STOCKHOLDERS' EQUITY Deposits: Noninterest-bearing 2,013,847,185$ 1,889,865,113$ 1,473,086,196$ Interest-bearing 1,316,653,111 1,389,548,175 1,071,433,689 Savings and money market accounts3,237,003,521 3,001,950,725 2,031,801,876 Time 725,322,534 690,049,795 417,289,165 Total deposits7,292,826,351 6,971,413,808 4,993,610,926 Securities sold under agreements to repurchase73,316,880 79,084,298 61,548,547 Federal Home Loan Bank advances783,240,425 300,305,226 445,345,050 Subordinated debt and other borrowings229,713,860 141,605,504 133,908,292 Accrued interest payable4,067,352 2,593,209 637,036 Other liabilities 90,349,182 63,930,339 40,103,864 Total liabilities8,473,514,050 7,558,932,384 5,675,153,715 Stockholders’ equity: Preferred stock, no par value; 10,000,000 shares authorized; no shares issued and outstanding- - - Common stock, par value $1.00; 90,000,000 shares authorized; 42,184,120 shares, 40,906,064 shares, and 35,977,987 shares issued and outstanding at June 30, 2016, December 31, 2015 and June 30, 2015, respectively42,184,120 40,906,064 35,977,987 Additional paid-in capital889,468,015 839,617,050 567,945,383 Retained earnings325,608,051 278,573,408 237,243,866 Accumulated other comprehensive (loss) income, net of taxes 4,893,624 (3,485,222) 222,825 Stockholders’ equity 1,262,153,810 1,155,611,300 841,390,061 Total liabilities and stockholders’ equity 9,735,667,860$ 8,714,543,684$ 6,516,543,776$ This information is preliminary and based on company data available at the time of the presentation. CONSOLIDATED BALANCE SHEETS – UNAUDITED PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES Three Months EndedSix Months Ended June 30,June 30, 201620152016 2015 Interest income: Loans, including fees77,043,106$ 50,325,643$ 151,447,310$ 99,792,349$ Securities Taxable 4,571,876 3,460,243 9,038,710 6,904,842 Tax-exempt 1,443,017 1,400,479 2,936,774 2,883,786 Federal funds sold and other 703,706 316,286 1,313,293 600,264 Total interest income 83,761,705 55,502,651 164,736,087 110,181,241 Interest expense: Deposits 5,073,567 2,592,476 9,989,130 5,023,218 Securities sold under agreements to repurchase 39,532 29,371 87,582 60,288 Federal Home Loan Bank advances and other borrowings 3,605,320 1,050,119 5,713,412 1,998,671 Total interest expense 8,718,419 3,671,966 15,790,124 7,082,177 Net interest income 75,043,286 51,830,685 148,945,963 103,099,064 Provision for loan losses5,280,101 1,186,116 9,173,671 1,501,207 Net interest income after provision for loan losses69,763,185 50,644,569 139,772,292 101,597,857 Noninterest income: Service charges on deposit accounts 3,430,391 3,075,655 6,873,075 5,988,204 Investment services 2,499,719 2,399,054 4,845,319 4,658,494 Insurance sales commissions 1,192,827 1,105,783 2,898,686 2,618,401 Gains on mortgage loans sold, net 4,221,301 1,652,111 7,788,852 3,593,365 Investment gains on sales, net - 556,014 - 562,017 Trust fees 1,491,955 1,230,415 3,072,567 2,542,400 Income from equity method investment 9,644,310 4,266,154 14,791,834 7,467,456 Other noninterest income 10,232,433 5,733,592 18,298,313 11,081,743 Total noninterest income 32,712,936 20,018,778 58,568,646 38,512,080 Noninterest expense: Salaries and employee benefits 34,254,147 23,774,558 66,771,003 47,305,418 Equipment and occupancy 8,312,272 5,877,971 16,442,736 11,924,194 Other real estate, net 222,473 (114,567) 334,745 280,721 Marketing and other business development 1,537,843 1,186,165 2,801,204 2,145,915 Postage and supplies 1,049,842 731,219 2,006,929 1,380,470 Amortization of intangibles 846,615 227,413 1,719,830 454,827 Merger related expenses 980,182 59,053 2,809,654 59,053 Other noninterest expense 8,727,393 5,005,513 17,108,362 10,027,749 Total noninterest expense 55,930,767 36,747,325 109,994,463 73,578,347 Income before income taxes46,545,354 33,916,022 88,346,475 66,531,590 Income tax expense 15,758,582 11,252,191 29,594,439 22,025,048 Net income 30,786,772$ 22,663,831$ 58,752,036$ 44,506,542$ Per share information: Basic net income per common share $ 0.75 $ 0.65 $ 1.44 $ 1.27 Diluted net income per common share $ 0.73 $ 0.64 $ 1.42 $ 1.25 Weighted average shares outstanding: Basic 41,274,45035,128,85640,678,66935,085,271 Diluted 41,974,48335,554,68341,411,24835,477,098 This information is preliminary and based on company data available at the time of the presentation. PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF INCOME – UNAUDITED MarchDecember SeptemberJune March 20162015201520152015 Balance sheet data, at quarter end: Commercial real estate - mortgage loans$2,467,219 2,340,720 2,275,483 2,192,151 1,671,729 1,560,683 Consumer real estate - mortgage loans1,068,620 1,042,369 1,046,517 1,044,276 740,641 723,907 Construction and land development loans816,681 764,079 747,697 674,926 372,004 324,462 Commercial and industrial loans2,492,016 2,434,656 2,228,542 2,178,535 1,819,600 1,810,818 Consumer and other246,866 246,106 244,996 246,101 226,380 225,402 Total loans7,091,402 6,827,930 6,543,235 6,335,989 4,830,354 4,645,272 Allowance for loan losses(61,412) (62,239) (65,432) (63,758) (65,572) (66,242) Securities1,137,733 1,048,419 966,442 1,003,994 840,136 808,294 Total assets9,735,668 9,261,387 8,714,543 8,544,799 6,516,544 6,314,346 Noninterest-bearing deposits2,013,847 2,026,550 1,889,865 1,876,910 1,473,086 1,424,971 Total deposits7,292,826 7,080,212 6,971,414 6,600,679 4,993,611 4,789,309 Securities sold under agreements to repurchase73,317 62,801 79,084 68,077 61,549 68,053 FHLB advances 783,240 616,290 300,305 545,330 445,345 455,444 Subordinated debt and other borrowings229,714 209,751 141,606 142,476 133,908 135,533 Total stockholders’ equity1,262,154 1,228,780 1,155,611 1,134,226 841,390 824,151 Balance sheet data, quarterly averages: Total loans$6,997,592 6,742,054 6,457,870 5,690,246 4,736,818 4,624,952 Securities1,064,060 993,675 1,002,291 925,506 836,425 788,550 Total earning assets8,362,657 8,018,596 7,759,053 6,844,784 5,764,514 5,581,508 Total assets9,305,941 8,851,978 8,565,341 7,514,633 6,319,712 6,102,523 Noninterest-bearing deposits2,003,523 1,960,083 1,948,703 1,689,599 1,437,276 1,342,603 Total deposits7,093,349 7,037,014 6,786,931 5,898,369 4,884,506 4,791,944 Securities sold under agreements to repurchase65,121 69,129 72,854 71,329 61,355 66,505 FHLB advances 653,750 383,131 376,512 393,825 388,963 290,016 Subordinated debt and other borrowings225,240 162,575 142,660 147,619 135,884 121,033 Total stockholders’ equity1,247,762 1,188,153 1,153,681 986,325 836,791 815,706 Statement of operations data, for the three months ended: Interest income$83,762 80,974 77,797 67,192 55,503 54,679 Interest expense8,718 7,072 6,322 5,133 3,672 3,410 Net interest income75,044 73,902 71,475 62,059 51,831 51,269 Provision for loan losses5,280 3,894 5,459 2,228 1,186 315 Net interest income after provision for loan losses69,764 70,008 66,016 59,831 50,645 50,954 Noninterest income32,713 25,856 26,608 21,410 20,019 18,493 Noninterest expense55,931 54,064 52,191 45,107 36,747 36,830 Income before taxes46,546 41,800 40,433 36,134 33,917 32,617 Income tax expense 15,759 13,836 13,578 11,985 11,252 10,774 Net income $30,787 27,965 26,855 24,149 22,665 21,843 Profitability and other ratios: Return on avg. assets (1)1.33%1.27%1.24%1.27%1.44%1.45% Return on avg. equity (1)9.92%9.47%9.24%9.71%10.86%10.86% Return on avg. tangible common equity (1)15.34%15.04%14.97%14.49%15.39%15.56% Dividend payout ratio (18)21.62%21.62%18.97%19.92%20.78%22.22% Net interest margin (1) (2)3.72%3.78%3.73%3.66%3.65%3.78% Noninterest income to total revenue (3)30.36%25.92%27.13%25.65%27.86%26.51% Noninterest income to avg. assets (1)1.41%1.17%1.23%1.13%1.27%1.23% Noninterest exp. to avg. assets (1)2.42%2.46%2.42%2.38%2.33%2.45% Noninterest expense (excluding ORE, FHLB prepayment charges, and merger related expense) to avg. assets (1)2.37%2.37%2.30%2.30%2.31%2.42% Efficiency ratio (4)51.90%54.20%53.21%54.04%51.14%52.79% Avg. loans to average deposits98.65%95.81%95.15%96.47%96.98%96.52% Securities to total assets11.69%11.32%11.10%11.75%12.89%12.80% This information is preliminary and based on company data available at the time of the presentation. (dollars in thousands) PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES SELECTED QUARTERLY FINANCIAL DATA – UNAUDITED June 2016 Average Balances Interest Rates/ Yields Average Balances Interest Rates/ Yields Interest-earning assets Loans (1) 6,997,592$ 77,043$ 4.53%4,736,818$ 50,326$ 4.27% Securities Taxable880,976 4,572 2.09%681,829 3,460 2.04% Tax-exempt (2) 183,084 1,443 4.25%154,596 1,400 4.86% Federal funds sold and other 301,005 704 0.94%191,271 316 0.66% Total interest-earning assets 8,362,657 83,762$ 4.06%5,764,514 55,502$ 3.91% Nonearning assets Intangible assets440,504 245,964 Other nonearning assets502,780 309,234 Total assets9,305,941$ 6,319,712$ Interest-bearing liabilities Interest-bearing deposits: Interest checking1,352,898$ 904$ 0.27%1,074,853$ 532$ 0.20% Savings and money market3,085,734 3,019 0.39%1,951,863 1,488 0.31% Time651,194 1,151 0.71%420,514 572 0.55% Total interest-bearing deposits5,089,826 5,074 0.40%3,447,230 2,592 0.30% Securities sold under agreements to repurchase65,121 40 0.24%61,355 29 0.19% Federal Home Loan Bank advances 653,750 1,256 0.77%388,963 224 0.23% Subordinated debt and other borrowings225,240 2,348 4.19%135,884 826 2.44% Total interest-bearing liabilities6,033,937 8,718 0.58%4,033,432 3,671 0.37% Noninterest-bearing deposits2,003,523 - - 1,437,276 - - Total deposits and interest-bearing liabilities 8,037,460 8,718$ 0.44%5,470,708 3,671$ 0.27% Other liabilities20,719 12,213 Stockholders' equity 1,247,762 836,791 Total liabilities and stockholders' equity9,305,941$ 6,319,712$ Net interest income 75,044$ 51,831$ Net interest spread (3) 3.48%3.54% Net interest margin (4) 3.72%3.65% (1) Average balances of nonperforming loans are included in the above amounts. (2) Yields computed on tax-exempt instruments on a tax equivalent basis. This information is preliminary and based on company data available at the time of the presentation. (4) Net interest margin is the result of annualized net interest income calculated on a tax equivalent basis divided by average interest-earning assets for the period. (3) Yields realized on interest-bearing assets less the rates paid on interest-bearing liabilities. The net interest spread calculation excludes the impact of demand deposits. Had the impact of demand deposits been included, the net interest spread for the quarter ended June 30, 2016 would have been 3.62% compared to a net interest spread of 3.64% for the quarter ended June 30, 2015. PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES ANALYSIS OF INTEREST INCOME AND EXPENSE, RATES AND YIELDS-UNAUDITED (dollars in thousands) Three months ended June 30, 2016 Three months ended June 30, 2015 Average Balances Interest Rates/ Yields Average Balances Interest Rates/ Yields Interest-earning assets Loans (1) 6,869,823$ 151,447$ 4.51%4,681,194$ 99,792$ 4.31% Securities Taxable845,945 9,039 2.15%654,011 6,905 2.13% Tax-exempt (2) 182,923 2,937 4.33%158,609 2,884 4.90% Federal funds sold and other 291,782 1,313 0.91%179,703 601 0.67% Total interest-earning assets 8,190,473 164,736$ 4.08%5,673,517 110,182$ 3.96% Nonearning assets Intangible assets440,485 246,138 Other nonearning assets447,996 292,065 Total assets9,078,954$ 6,211,720$ Interest-bearing liabilities Interest-bearing deposits: Interest checking1,378,931$ 1,835$ 0.27%1,052,405$ 1,005$ 0.19% Savings and money market3,041,660 5,972 0.39%1,973,818 2,898 0.30% Time662,788 2,182 0.66%422,057 1,121 0.54% Total interest-bearing deposits5,083,379 9,989 0.40%3,448,280 5,024 0.29% Securities sold under agreements to repurchase67,125 88 0.26%63,916 60 0.19% Federal Home Loan Bank advances 518,440 1,792 0.70%339,763 444 0.26% Subordinated debt and other borrowings193,904 3,921 4.07%128,499 1,555 2.44% Total interest-bearing liabilities5,862,848 15,790 0.54%3,980,458 7,083 0.36% Noninterest-bearing deposits1,981,803 - - 1,390,201 - - Total deposits and interest-bearing liabilities 7,844,651 15,790$ 0.40%5,370,659 7,083$ 0.27% Other liabilities16,346 14,754 Stockholders' equity 1,217,957 826,307 Total liabilities and stockholders' equity9,078,954$ 6,211,720$ Net interest income 148,946$ 103,099$ Net interest spread (3) 3.53%3.60% Net interest margin (4) 3.75%3.71% (1) Average balances of nonperforming loans are included in the above amounts. (2) Yields computed on tax-exempt instruments on a tax equivalent basis. This information is preliminary and based on company data available at the time of the presentation. (4) Net interest margin is the result of net interest income calculated on a tax equivalent basis divided by average interest-earning assets for the period. (3) Yields realized on interest-bearing assets less the rates paid on interest-bearing liabilities. The net interest spread calculation excludes the impact of demand deposits. Had the impact of demand deposits been included, the net interest spread for the six months ended June 30, 2016 would have been 3.67% compared to a net interest spread of 3.70% for the six months ended June 30, 2015. PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES ANALYSIS OF INTEREST INCOME AND EXPENSE, RATES AND YIELDS-UNAUDITED (dollars in thousands) Six months endedSix months ended June 30, 2016June 30, 2015 MarchDecemberSeptemberJuneMarch 2016201520152015 2015 Asset quality information and ratios: Nonperforming assets: Nonaccrual loans$33,785 42,524 29,359 30,049 17,550 16,915 Other real estate (ORE) and other non-performing assets (NPAs)5,183 5,338 6,990 5,794 8,239 9,927 Total nonperforming assets $38,968 47,862 36,349 35,843 25,789 26,842 Past due loans over 90 days and still accruing interest$1,623 4,556 1,768 3,798 483 1,609 Troubled debt restructurings (5)$9,861 9,950 8,088 8,373 8,703 8,726 Net loan charge-offs$6,108 7,087 3,785 4,041 1,856 1,432 Allowance for loan losses to nonaccrual loans181.8%146.4%222.9%212.2%373.6%391.6% As a percentage of total loans: Past due accruing loans over 30 days 0.33%0.32%0.31%0.31%0.38%0.34% Potential problem loans (6)1.38% 1.65%1.61%1.44%1.86%1.97% Allowance for loan losses0.87%0.91%1.00%1.01%1.36%1.43% Nonperforming assets to total loans, ORE and other NPAs0.55%0.70%0.55%0.57%0.53%0.58% Nonperforming assets to total assets0.40%0.52%0.42%0.41%0.37%0.40% Classified asset ratio (Pinnacle Bank) (8) 19.3%24.2%18.7%17.1% 19.0%20.3% Annualized net loan charge-offs to avg. loans (7)0.35%0.42%0.23%0.28%0.16%0.13% Wtd. avg. commercial loan internal risk ratings (6)4.5 4.5 4.5 4.5 4.5 4.5 Interest rates and yields: Loans4.53%4.49%4.46%4.33%4.27%4.35% Securities2.46%2.62%2.45%2.51%2.56%2.79% Total earning assets4.06%4.09%4.01%3.93%3.91%4.02% Total deposits, including non-interest bearing0.29%0.28%0.27%0.24%0.21%0.21% Securities sold under agreements to repurchase0.24%0.28%0.21%0.22%0.19%0.19% FHLB advances 0.77%0.56%0.42%0.33%0.23%0.31% Subordinated debt and other borrowings4.19%3.89%3.57%3.16%2.44%2.44% Total deposits and interest-bearing liabilities0.44%0.37%0.34%0.31%0.27%0.26% Pinnacle Financial Partners capital ratios (8): Stockholders’ equity to total assets13.0%13.3%13.3%13.3%12.9%13.1% Common equity Tier one capital 7.9%7.8%8.6%8.7%9.4%9.4% Tier one risk-based8.8%8.7%9.6%9.8%10.8%10.8% Total risk-based11.0%11.0%11.3%11.4%12.0%12.0% Leverage 8.7%8.8%9.4%10.0%10.5%10.4% Tangible common equity to tangible assets8.9%8.9%8.6%8.6%9.5%9.5% Pinnacle Bank ratios: Common equity Tier one 8.4%8.3%9.0%9.1%10.1%10.0% Tier one risk-based8.4%8.3%9.0%9.1%10.1%10.1% Total risk-based10.6%10.6%10.6%10.8%11.2%11.3% Leverage8.3%8.4%8.8%9.4%9.8%9.7% This information is preliminary and based on company data available at the time of the presentation. (dollars in thousands) PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES SELECTED QUARTERLY FINANCIAL DATA – UNAUDITED June 2016 MarchDecemberSeptemberJune March 20162015201520152015 Per share data: Earnings – basic$0.75 0.70 0.67 0.64 0.65 0.62 Earnings – diluted$0.73 0.68 0.65 0.62 0.64 0.62 Common dividends per share$0.14 0.14 0.12 0.12 0.12 0.12 Book value per common share at quarter end (9)$29.92 29.26 28.25 27.80 23.39 22.98 Investor information: Closing sales price$48.85 49.06 51.36 49.41 54.37 44.46 High closing sales price during quarter$51.73 51.32 56.80 55.18 54.88 45.19 Low closing sales price during quarter$45.15 44.56 47.90 45.03 44.25 35.52 Other information: Gains on mortgage loans sold: Mortgage loan sales: Gross loans sold $198,239 163,949 164,992 145,751 112,609 95,782 Gross fees (10) $7,604 5,425 4,155 4,751 4,067 3,108 Gross fees as a percentage of loans originated3.84% 3.31%2.52%3.26%3.61%3.24% Net gain on mortgage loans sold $4,221 3,568 2,181 1,895 1,652 1,941 Investment gains on sales, net (17) $- - (10) - 556 6 Brokerage account assets, at quarter-end (11) $1,964,769 1,812,221 1,778,566 1,731,828 1,783,062 1,739,669 Trust account managed assets, at quarter-end $953,592 1,130,271 862,699 839,518 924,605 889,392 Core deposits (12) $6,591,063 6,432,388 6,332,810 4,832,719 4,608,648 4,412,635 Core deposits to total funding (12) 78.7%80.7%84.5%82.8%81.8%81.0% Risk-weighted assets $8,609,968 8,287,853 7,849,814 7,425,629 5,829,846 5,591,382 Total assets per full-time equivalent employee $9,176 8,616 8,228 7,960 8,141 8,153 Annualized revenues per full-time equivalent employee$408.5 373.2 367.6 308.5 360.0 365.3 Annualized expenses per full-time equivalent employee$212.0 202.3 195.6 166.7 184.1 192.9 Number of employees (full-time equivalent)1,061.0 1,075.0 1,058.5 1,073.5 800.5 774.5 Associate retention rate (13) 95.2%94.0%92.9%96.1% 94.7%94.0% Selected economic information (in thousands) (14): Nashville MSA nonfarm employment - May 2016932.7934.9926.6919.5906.6890.9 Knoxville MSA nonfarm employment - May 2016394.6393.6391.4388.5387.8382.7 Chattanooga MSA nonfarm employment - May 2016249.9249.4249.1248.1245.4242.5 Memphis MSA nonfarm employment - May 2016632.4632.1629.3630.6 621.8618.7 Nashville MSA unemployment - May 20163.1%3.3%4.6%4.7%4.6%4.6% Knoxville MSA unemployment -May 20163.6%3.8% 5.3%5.4%5.4%5.3% Chattanooga MSA unemployment - May 20164.0%4.6%5.5%5.7%5.6%5.7% Memphis MSA unemployment - May 20164.7%4.7%6.4%6.4%6.5%6.5% Nashville residential median home price - June 2016$260.2245.0242.9236.9240.0222.4 Nashville inventory of residential homes for sale- June 2016 (16)8.57.97.18.79.28.2 This information is preliminary and based on company data available at the time of the presentation. (dollars in thousands, except per share data) June 2016 PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES SELECTED QUARTERLY FINANCIAL DATA – UNAUDITED June MarchDecemberSeptemberJuneMarch (dollars in thousands, except per share data) 201620162015201520152015 Net interest income$75,044 73,902 71,475 62,059 51,831 51,269 Noninterest income32,713 25,856 26,608 21,410 20,019 18,493 Less: Investment (gains) and losses on sales, net - - 10 - (556) (6) Noninterest income excluding investment (gains) and losses on sales, net 32,713 25,856 26,618 21,410 19,463 18,487 Total revenues excluding the impact of investment (gains) and losses on sales, net 107,757 99,758 98,093 83,469 71,294 69,756 Noninterest expense55,931 54,064 52,191 45,107 36,747 36,830 Less: Other real estate expense222 112 99 (686) (115) 395 FHLB prepayment charges- - - - 479 - Merger related charges 980 1,829 2,489 2,249 59 - Noninterest expense excluding the impact of other real estate expense, FHLB prepayment charges and merger related charges 54,729 52,122 49,603 43,544 36,324 36,435 Adjusted pre-tax pre-provision income (15) $53,028 47,636 48,490 39,925 34,970 33,322 Efficiency Ratio (4) 51.9%54.2%53.2%54.0%51.1%52.8% Adjustment due to investment gains, ORE expense, FHLB prepayment charges and merger related charges-1.1%-1.9%-2.6%-1.9%-0.2%-0.6% Efficiency Ratio (excluding investment gains, ORE expense, FHLB prepayment charges and merger related charges) 50.8%52.2%50.6%52.2%50.9%52.2% Total average assets$9,305,941 8,851,978 8,565,341 7,514,633 6,319,712 6,102,523 Noninterest expense (excluding ORE expense, FHLB prepayment charges and merger related charges) to avg. assets (1) 2.37%2.37%2.30%2.30%2.31%2.42% Equity Method Investment (19) Fee income from BHG, net of amortization$9,644 5,148 7,839 5,285 4,266 3,201 Funding cost to support investment1,732 980 660 590 421 277 Pre-tax impact of BHG7,912 4,168 7,179 4,695 3,845 2,924 Income tax expense at statutory rates3,104 1,635 2,816 1,842 1,508 1,147 Earnings attributable to BHG$4,808 2,533 4,363 2,853 2,337 1,777 Basic earnings per share attributable to BHG0.12 0.06 0.11 0.07 0.07 0.05 Diluted earnings per share attributable to BHG0.11 0.06 0.11 0.07 0.07 0.05 Net income $30,787 27,965 26,854 24,149 22,665 21,843 Merger related charges 980 1,829 2,489 2,249 59 - Tax effect on merger related charges (20) (385) (718) (977) (882) (23) - Net income less merger related charges $31,382 29,076 28,366 25,516 22,701 21,843 Basic earnings per share $0.75 0.70 0.67 0.64 0.65 0.62 Adjustment to basic earnings per share due to merger related charges 0.01 0.03 0.04 0.03 - - Basic earnings per share excluding merger related charges $0.76 0.73 0.71 0.67 0.65 0.62 Diluted earnings per share$0.73 0.68 0.65 0.62 0.64 0.62 Adjustment to diluted earnings per share due to merger related charges 0.02 0.03 0.04 0.04 - - Diluted earnings per share excluding merger related charges$0.75 0.71 0.69 0.66 0.64 0.62 This information is preliminary and based on company data available at the time of the presentation. PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES RECONCILIATION OF NON-GAAP SELECTED QUARTERLY FINANCIAL DATA – UNAUDITED June MarchDecember SeptemberJuneMarch (dollars in thousands, except per share data) 201620162015201520152015 Net income $30,787 27,965 26,854 24,149 22,665 21,843 Merger related expenses 980 1,829 2,489 2,249 59 - Tax effect on merger related expenses (385) (718) (977) (882) (23) - Net income less merger related expenses $31,382 29,076 28,366 25,516 22,701 21,843 Return on average assets 1.33%1.27%1.24%1.27% 1.44%1.45% Adjustment due to merger related charges0.03%0.05%0.07%0.07%0.00%0.00% Return on average assets (excluding merger related charges) 1.36%1.32%1.31%1.35%1.44% 1.45% Tangible assets: Total assets$9,735,668 9,262,345 8,714,543 8,549,064 6,516,544 6,314,346 Less: Goodwill(427,574) (431,841) (432,232) (429,416) (243,291) (243,443) Core deposit and other intangible assets (8,821) (9,667) (10,540) (11,641) (2,438) (2,666) Net tangible assets $9,299,273 8,820,837 8,271,771 8,108,007 6,270,815 6,068,238 Tangible equity: Total stockholders' equity$1,262,154 1,228,780 1,155,611 1,134,226 841,390 824,151 Less: Goodwill(427,574) (431,841) (432,232) (429,416) (243,291) (243,443) Core deposit and other intangible assets (8,821) (9,667) (10,540) (11,641) (2,438) (2,666) Net tangible common equity $ 825,759 787,272 714,384 697,434 595,661 578,042 Ratio of tangible common equity to tangible assets 8.88% 8.93%8.64%8.60%9.50%9.53% Average tangible equity: Average stockholders' equity$1,247,762 1,188,153 1,153,681 986,325 836,791 815,706 Less: Average goodwill(431,155) (430,228) (430,574) (317,461) (243,383) (243,505) Core deposit and other intangible assets(9,367) (10,237) (11,261) (7,634) (2,581) (2,809) Net average tangible common equity$807,240 747,688 711,847 661,230 590,827 569,392 Return on average common equity 9.92%9.47%9.24%9.71% 10.86%10.86% Adjustment due to goodwill, core deposit and other intangible assets5.42%5.58%5.73%4.78% 4.52%4.70% Return on average tangible common equity (1) 15.34%15.04%14.97%14.49%15.39%15.56% Adjustment due to merger related charges 0.30%0.60%0.84%0.82% 0.06%0.00% Return on average tangible common equity (excluding merger related charges) 15.64%15.64%15.81%15.31% 15.44%15.56% Total average assets$9,305,941 8,851,978 8,565,341 7,514,633 6,319,712 6,102,523 This information is preliminary and based on company data available at the time of the presentation. PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES RECONCILIATION OF NON-GAAP SELECTED QUARTERLY FINANCIAL DATA – UNAUDITED 20. Tax effect calculated using the blended statutory rate of 39.23% for all periods presented. Tangible common equity to total assets - End of period total stockholders' equity less end of period goodwill, core deposit and other intangibles as a percentage of end of period assets. Tier one risk-based – Tier one capital (pursuant to risk-based capital guidelines) as a percentage of total risk-weighted assets. 17. Represents investment gains (losses) on sales and impairments, net occurring as a result of both credit losses and losses incurred as the result of a change in management's intention to sell a bond prior to the recovery of its amortized cost basis. 18. The dividend payout ratio is calculated as the sum of the annualized dividend rate divided by the trailing 12-months fully diluted earnings per share as of the dividend declaration date. 15. Adjusted pre-tax, pre-provision income excludes the impact of investment gains and losses on sales and impairments, net as well as other real estate owned expenses, FHLB restructuring charges and merger related expenses. 12. Core deposits include all transaction deposit accounts, money market and savings accounts and all certificates of deposit issued in a denomination of less than $250,000. 10. Amounts are included in the statement of operations in “Gains on mortgage loans sold, net”, net of commissions paid on such amounts. 14. Employment and unemployment data is from BERC- MTSU & Bureau of Labor Statistics. Labor force data is seasonally adjusted. The most recent quarter data presented is as of the most recent month that data is available as of the release date. Historical data is subject to update by the BERC- MTSU & Bureau of Labor Statistics. Historical data is presented based on the most recently reported data available by the BERC- MTSU & Bureau of Labor Statistics. The Nashville home data is from the Greater Nashville Association of Realtors. Classified asset - Classified assets as a percentage of Tier 1 capital plus allowance for loan losses. as a component of tier 1 capital as a percentage of total risk-weighted assets. 16. Represents one month's supply of homes currently listed with MLS based on current sales activity in the Nashville MSA. Tier one common equity to risk weighted assets - Tier 1 capital (pursuant to risk-based capital guidelines) less the amount of any preferred stock or subordinated indebtedness that is considered 13. Associate retention rate is computed by dividing the number of associates employed at quarter-end less the number of associates that have resigned in the last 12 months by the number of associates employed at quarter-end. Associate retention rate does not include associates at acquired institutions displaced by merger. PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES SELECTED QUARTERLY FINANCIAL DATA – UNAUDITED 9. Book value per share computed by dividing total stockholders’ equity less preferred stock and common stock warrants by common shares outstanding. 1. Ratios are presented on an annualized basis. 2. Net interest margin is the result of net interest income on a tax equivalent basis divided by average interest earning assets. 3. Total revenue is equal to the sum of net interest income and noninterest income. 4. Efficiency ratios are calculated by dividing noninterest expense by the sum of net interest income and noninterest income. 7. Annualized net loan charge-offs to average loans ratios are computed by annualizing year-to-date net loan charge-offs and dividing the result by average loans for the year-to-date period. Equity to total assets – End of period total stockholders’ equity as a percentage of end of period assets. Leverage – Tier one capital (pursuant to risk-based capital guidelines) as a percentage of adjusted average assets. Total risk-based – Total capital (pursuant to risk-based capital guidelines) as a percentage of total risk-weighted assets. 5. Troubled debt restructurings include loans where the company, as a result of the borrower’s financial difficulties, has granted a credit concession to the borrower (i.e., interest only payments for a significant period of time, extending the maturity of the loan, etc.). All of these loans continue to accrue interest at the contractual rate. 6. Average risk ratings are based on an internal loan review system which assigns a numeric value of 1 to 10 to all loans to commercial entities based on their underlying risk characteristics as of the end of each quarter. A "1" risk rating is assigned to credits that exhibit Excellent risk characteristics, "2" exhibit Very Good risk characteristics, “3” Good, “4” Satisfactory, “5” Acceptable or Average, “6” Watch List, “7” Criticized, “8” Classified or Substandard, “9” Doubtful and “10” Loss (which are charged-off immediately). Additionally, loans rated “8” or worse that are not nonperforming or restructured loans are considered potential problem loans. Generally, consumer loans are not subjected to internal risk ratings. This average is for PNFP legacy loans only. 11. At fair value, based on information obtained from Pinnacle’s third party broker/dealer for non-FDIC insured financial products and services. 19. Earnings from equity method investment includes the impact of the issuance of subordinated debt as well as the funding costs of the overall franchise. Income tax expense is calculated using statutory tax rates. 8. Capital ratios are calculated using regulatory reporting regulations enacted for such period and are defined as follows: The ratio noted above represents total core deposits divided by total funding, which includes total deposits, FHLB advances, securities sold under agreements to repurchase, subordinated indebtedness and all other interest-bearing liabilities.

Goldman Sachs 2025 Financial Services Conference December 9, 2025 2 Thiscommunicationcontainsstatementsthatconstitute“forward-lookingstatements”withinthemeaningof,andsubjecttotheprotectionsof,Section27AoftheSecuritiesActof1933,asamended,andSection21EoftheSecurities ExchangeActof1934,asamended.Allstatementsotherthanstatementsofhistoricalfactareforward-lookingstatements.Theseforward-lookingstatementsinclude,butarenotlimitedto,statementsaboutthebenefitsoftheproposed transactionbetweenSynovusFinancialCorp.(“Synovus”)andPinnacleFinancialPartners,Inc.(“Pinnacle”),includingfuturefinancialandoperatingresults(includingtheanticipatedimpactoftheproposedtransactiononSynovus’and Pinnacle’srespectiveearningsandtangiblebookvalue),statementsrelatedtotheexpectedtimingofthecompletionoftheproposedtransaction,thecombinedcompany’splans,objectives,expectationsandintentions,andother statementsthatarenothistoricalfacts.Youcanidentifytheseforward-lookingstatementsthroughtheuseofwordssuchas“believes,”“anticipates,”“expects,”“may,”“will,”“assumes,”“should,”“predicts,”“could,”“would,”“intends,” “targets,”“estimates,”“projects,”“plans,”“potential”andothersimilarwordsandexpressionsofthefutureorotherwiseregardingtheoutlookforSynovus’,Pinnacle’sorcombinedcompany’sfuturebusinessesandfinancialperformance and/ortheperformanceofthebankingindustryandeconomyingeneral. Prospectiveinvestorsarecautionedthatanysuchforward-lookingstatementsarenotguaranteesoffutureperformanceandinvolveknownandunknownrisksanduncertaintieswhichmaycausetheactualresults,performanceor achievementsofSynovus,Pinnacleorthecombinedcompanytobemateriallydifferentfromthefutureresults,performanceorachievementsexpressedorimpliedbysuchforward-lookingstatements.Forward-lookingstatementsare basedontheinformationknownto,andcurrentbeliefsandexpectationsof,SynovusorPinnacleandaresubjecttosignificantrisksanduncertainties.Actualresultsmaydiffermateriallyfromthosecontemplatedbysuchforward-looking statements.Anumberoffactorscouldcauseactualresultstodiffermateriallyfromthosecontemplatedbytheforward-lookingstatementsinthiscommunication.ManyofthesefactorsarebeyondSynovus’,Pinnacle’sorthecombined company’sabilitytocontrolorpredict.Thesefactorsinclude,amongothers,(1)theriskthatthecostsavingsandsynergiesfromtheproposedtransactionmaynotbefullyrealizedormaytakelongerthananticipatedtoberealized,(2) disruptiontoSynovus’businessandtoPinnacle’sbusinessasaresultoftheannouncementandpendencyoftheproposedtransaction,(3)theriskthattheintegrationofPinnacle’sandSynovus’respectivebusinessesandoperationswillbe materiallydelayedorwillbemorecostlyordifficultthanexpected,includingasaresultofunexpectedfactorsorevents,(4)thefailuretoobtainthenecessaryapprovalsbytheshareholdersofSynovusorPinnacle,(5)theamountofthe costs,fees,expensesandchargesrelatedtothetransaction,(6)theabilitybyeachofSynovusandPinnacletoobtainrequiredgovernmentalapprovalsoftheproposedtransactiononthetimelineexpected,oratall,andtheriskthatsuch approvalsmayresultintheimpositionofconditionsthatcouldadverselyaffectthecombinedcompanyaftertheclosingoftheproposedtransactionoradverselyaffecttheexpectedbenefitsoftheproposedtransaction,(7)reputational riskandthereactionofeachcompany’scustomers,suppliers,employeesorotherbusinesspartnerstotheproposedtransaction,(8)thefailureoftheclosingconditionsinthemergeragreementtobesatisfied,oranyunexpecteddelayin closingtheproposedtransactionortheoccurrenceofanyevent,changeorothercircumstancesthatcouldgiverisetotheterminationofthemergeragreement,(9)thedilutioncausedbytheissuanceofsharesofthecombinedcompany’s commonstockinthetransaction,(10)thepossibilitythattheproposedtransactionmaybemoreexpensivetocompletethananticipated,includingasaresultofunexpectedfactorsorevents,(11)risksrelatedtomanagementand oversightoftheexpandedbusinessandoperationsofthecombinedcompanyfollowingtheclosingoftheproposedtransaction,(12)thepossibilitythecombinedcompanyissubjecttoadditionalregulatoryrequirementsasaresultofthe proposedtransactionorexpansionofthecombinedcompany’sbusinessoperationsfollowingtheproposedtransaction,(13)theoutcomeofanylegalorregulatoryproceedingsorgovernmentalinquiriesorinvestigationsthatmaybe currentlypendingorlaterinstitutedagainstSynovus,Pinnacleorthecombinedcompanyand(14)generalcompetitive,economic,politicalandmarketconditionsandotherfactorsthatmayaffectfutureresultsofSynovusandPinnacle includingchangesinassetqualityandcreditrisk;theinabilitytosustainrevenueandearningsgrowth;changesininterestratesandcapitalmarkets;inflation;customerborrowing,repayment,investmentanddepositpractices;theimpact, extentandtimingoftechnologicalchanges;andcapitalmanagementactivities.AdditionalfactorswhichcouldaffectfutureresultsofSynovusandPinnaclecanbefoundinSynovus’orPinnacle’sfilingswiththeSecuritiesandExchange Commission(the“SEC”),includinginSynovus’AnnualReportonForm10-KfortheyearendedDecember31,2024,underthecaptions“Forward-LookingStatements”and“RiskFactors,”andSynovus’QuarterlyReportsonForm10-Qand CurrentReportsonForm8-K,andPinnacle’sAnnualReportonForm10-KfortheyearendedDecember31,2024,underthecaptions“Forward-LookingStatements”and“RiskFactors,”andinPinnacle’sQuarterlyReportsonForm10-Qand CurrentReportsonForm8-K.Unduerelianceshouldnotbeplacedonanyforward-lookingstatements,whicharebasedoncurrentexpectationsandspeakonlyasofthedatethattheyaremade.SynovusandPinnacledonotassumeany obligationtoupdateanyforward-lookingstatementsasaresultofnewinformation,futuredevelopmentsorotherwise,exceptasotherwisemayberequiredbylaw. Forward-Looking Statements 3 This slide presentation contains certain non-GAAP financial measures determined by methods other than in accordance with generally accepted accounting principles. Such non-GAAP financial measures include the following:adjusted revenue taxable equivalent (TE) and adjusted non-interest expense. The most comparable GAAP measures to these measures are total revenueand total non-interest expense, respectively. Management believes that these non-GAAP financial measures provide meaningful additional information about Synovus to assist management and investors in evaluating Synovus' operating results, financial strength, the performance of its business and the strength of its capital position. However, these non-GAAP financial measures have inherent limitations as analytical tools and should not be considered in isolation or as a substitute for analyses of operating results or capital position as reported under GAAP. The non-GAAP financial measures should be considered as additional views of the way our financial measures are affected by significant items and other factors, and since they are not required to be uniformly applied, they may not be comparable to other similarly titled measures at other companies. Adjust revenue TE is ameasure used by management to evaluate total revenue exclusive of net investment securities gains (losses), fair value adjustments on non-qualified deferred compensation, and other items not indicative of ongoing operations that could impact period-to-period comparisons. Adjusted non-interest expense is a measure utilized by management to measure the success of expense management initiatives focused on reducing recurring controllable operating costs. The computations of the non-GAAP financial measures used in this slide presentation are set forth in the appendix to this slide presentation. Management does not provide a reconciliation for forward-looking non-GAAP financial measures where it is unable to provide a meaningful or accurate calculation or estimation of reconciling items and the information is not available without unreasonable effort. This is due to the inherent difficulty of forecasting the occurrence and the financial impact of variousitems that have not yet occurred, are out of Synovus’ control, or cannot be reasonably predicted. For the same reasons, Synovus’ management is unable to address the probable significance of the unavailable information. Forward-looking non-GAAP financial measures provided without the most directly comparable GAAP financial measures may vary materially from the corresponding GAAP financial measures. Use of Synovus Non-GAAP Financial Measures 4 Pro Forma Branch Footprint Synovus Pro forma footprint population projected to grow 2x faster than national average Source: July 24,2025,PNFP-SNV merger presentation; (1) 2025-2027E pro forma revenue growth CAGR of 10.5% (#1 among peers), 47% pro forma 2027E efficiency ratio (#1 among peers), 1.38% pro forma 2027E return on average assets (#2 among peers) and 18.0% pro forma 2027E return on average tangible common equity (#1 among peers) Fully Committed to Continuing the Highly Successful PNFP Operating and Recruiting Model Positioned to Remain Employer of Choice with Industry-Leading Client Service Versus Competitors Strong Pro Forma Capital Generation Minimal Geographic Overlap Supports Low-Risk Integration Builds on Significant, Multi-Year Investments to Prepare for LFI Standards Capitalizes on Positive Regulatory Environment for Larger Bank Mergers Creates Fastest-Growing, Most Profitable Regional Bank with 21% 2027E EPS Accretion and 2.6 Year TBV Dilution Earnback (1) Pinnacle Financially & Strategically Compelling Transaction 5 Brand Name Headquarters Leadership Team Operating Model Incentive Model Board of Directors Named Technology Stack Pinnacle Financial Partners and Pinnacle Bank Built on Synovus' highly-scalable FIS core platform Primarily based on company revenue and EPS growth Equity grants/team member ownership 15 directors: 8 Pinnacle and 7 Synovus Each side has 6 independent directors Geographic operating model with local leadership Long-term clarity on CEO Finalized key leadership positions Holding Company: Atlanta, GA and Bank: Nashville, TN Key Decisions Made in Contrast to Other MOEs 6 Key Assumptions Sequential Period-End LoanGrowth Sequential Period-End Core Deposit Growth (1) Adjusted Revenue (2) Adjusted Non- Interest Expense (2) CET1 Ratio Net Charge-Offs/ Average Loans •Well-managed core expense offset by year-end incentive accruals $615 MM -$625 MM ~$325 MM 0.20% -0.25% ~11.4% ~1.0% 3% –4% Synovus Fourth Quarter 2025 Update 4Q25E •Strong execution across core Middle Market and CIB growth verticals offset by elevated CRE payoffs •Seasonal benefits and new account origination supporting strong 4Q25 growth •Modest NIM expansion from 3Q25 •Assumes additional 25 bp rate cut in December •Fee income of ~$135 MM -$140 MM driven by Capital Markets and Wealth Services •Continue to retain capital for anticipated January 1, 2026 merger closing (1) Excludes brokered deposits; (2) Non-GAAP financial measure; see cautionary language on slide 3 and appendix for applicable reconciliation 7 Key Assumptions 2026 Period-End LoanGrowth 2026 Period-End Core Deposit Growth (1) Estimated Normalized NIM (2) % of Adjusted NIE (3) Synergies Realized in Year One Initial CET1 Ratio Target Estimated Revenue Synergies •Normalized rate environment should be conducive to low-cost deposit growth •Specialized deposit capabilities will augment core client deposit growth •Continued NIM expansion from legacy PNFP franchise's fixed-rate asset repricing •Inclusive of debt issuances and other balance sheet repositioning to support liquidity profile •Expect to exit Year 1 on pace to meet or exceed 75% Year 2 target •Full expense savings to berealized in 2H27 ~3.50% ~40% (of $250 MM ) $100 MM -$130 MM ~10.5% 9% -11% 9% -11% •Broad-based contributions from both geographic and specialized business units •Supported byongoing recruiting andcombined synergy opportunities Pro Forma Targets •Realized over time as combined company is fully integrated •See following slide for specifics (1) Excludes brokered deposits; (2) Assumes a normalized rate and spread environment, including short-term policy rates of approximately 3.25% (in alignment with FOMC dot plot) and a normalized yield curve (FF/10Y) of approximately 100 bps; (3) Non-GAAP financial measure; see cautionary language on slide 3 8 R EL AT IONSH I P EX PA NSIO N C AP ITAL M AR K ET S SP EC IALT Y EX P ERT ISE T R EASU RY C APA B IL IT IES OpportunitiesRevenue Synergies Estimated Revenue Synergies: ~100 MM -$130 MM Revenue Producer Hiring ~$60 Million -$70 Million Hold Limits Swap Fees ~$20 Million -$30 Million Arranger Fees FX Hedging CIC Syndication Fees Debt Capital Markets M&A Advisory Equipment Financing ~$10 Million -$15 Million Auto Dealer Financing The Family Office Homeowner's Association Deposit Specialty Captive Deposit Specialty Legal Deposit Specialty Deposit Service Charges -Analysis ~$10 Million -$15 Million Commercial Card International Sales & Trade Revenue Note: Relationship Expansion, Capital Markets, Specialty Expertise and Treasury Capabilities Information reflects 2025 PNFP and SNV estimates 9 N I M Run-Rate Net Interest Margin (1) ~3.50% 3.34% Combined 3Q25 NIM for Pinnacle and Synovus Synovus Balance Sheet Marks 0.12%-0.15% 0.05%-0.08% Funding and Liquidity Actions PNFP Fixed- Rate Asset Repricing and Other 0.07%-0.10% Pro Forma Normalized Net Interest Margin (1) (1)Assumes a normalized rate and spread environment, including short-term policy rates of approximately 3.25% (in alignment with FOMC dot plot) and a normalized yield curve (FF/10Y) of approximately 100 bps Immediate Over-Time 10 Revenue Producer Hiring Targets 106 125125 74 100 125 YTD 20252026E2027E Legacy PNFPLegacy SNV 225 250 180 (1) (1) Year-to-Date as of September 30, 2025 11 Partnership Progress 12 Board of Directors Recently Announced 13 Appendix 14 37% 20% 19% 6% 5% 13% Corporate Loans Litigation Finance Consumer Finance Small Business Finance Tax / PACE Finance Other Structured Lending Asset Class Distribution (1) Fundings of $5.2 Billion, of which ~60% is Structured Lending Structured Lending Portfolio: $3.0 Billion •Launched in 2019 with senior team who haveworked together for over 15 years •Largely “lender finance” receivables plus other highly secured cash flows •Secured by assets that self-liquidate over time or can be quickly converted to cash •Asset-class agnostic with over 28 distinct asset classes; capital deployment in numerous industry sectors •Zero NCOs, NPLs or criticizedand classifiedloans since inception; 100% are senior secured positions •Rigorous due diligence for each counterparty accompanied by robust cash flow analysis Synovus NDFI Portfolio Note: All data as of September 30, 2025; (1) Certain asset class categories have been combined for illustration purposes; PACE -Property Assessed Clean Energy (2) 15 Synovus Non-GAAP Financial Measures Amounts may not total due to rounding. ($ in thousands)3Q25 Total non-interest expense$348,729 Restructuring (charges) reversals747 Fair value adjustment on non-qualified deferred compensation(2,592) Merger-related expense(23,757) Valuation adjustment to Visa derivative(2,911) Adjusted non-interest expense$320,216 Net interest income$474,695 Total non-interest revenue140,697 Total revenue615,392 Net interest income$474,695 Tax equivalent adjustment1,736 Net interest income (TE)$476,431 Total non-interest revenue140,697 Total revenue (TE)617,128 Investment securities losses (gains), net(1,742) Fair value adjustment on non-qualified deferred compensation(2,592) Adjusted revenue (TE)$612,794

First Quarter 2017 Investor Call M. Terry Turner, President and CEO Harold R. Carpenter, EVP and CFO April 18, 2017 Forward Looking Statements All statements, other than statements of historical fact, included in this presentation, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act and Section 21E of the Exchange Act. The words "expect," "anticipate," "intend," "plan," "believe," "seek," "estimate" and similar expressions are intended to identify such forward- looking statements, but other statements not based on historical information may also be considered forward-looking statements. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could cause the actual results to differ materially from the statements, including, but not limited to: (i) deterioration in the financial condition of borrowers resulting in significant increases in loan losses and provisions for those losses; (ii) continuation of the historically low short-term interest rate environment; (iii) the inability of Pinnacle Financial, or entities in which it has significant investments, like Bankers Healthcare Group (BHG), to maintain the historical growth rate of its, or such entities', loan portfolio; (iv) changes in loan underwriting, credit review or loss reserve policies associated with economic conditions, examination conclusions, or regulatory developments; (v) effectiveness of Pinnacle Financial’sasset management activities in improving, resolving or liquidating lower-quality assets; (vi) increased competition with other financial institutions; (vii) greater than anticipated adverse conditions in the national or local economies including the Nashville-Davidson-Murfreesboro-Franklin MSA, the Knoxville MSA, the Chattanooga, TN-GA MSA and the Memphis, TN-MS-AR MSA, particularly in commercial and residential real estate markets; (viii) rapid fluctuations or unanticipated changes in interest rates on loans or deposits; (ix) the results of regulatory examinations;(x) the ability to retain large, uninsured deposits; (xi) a merger or acquisition, like Pinnacle Financial’sproposed merger with BNC Bancorp (BNC); (xii) risks of expansion into new geographic or product markets; (xiii) any matter that would cause Pinnacle Financial to conclude that there was impairment of any asset, including intangible assets; (xiv) reduced ability to attract additional financial advisors (or failure of such advisors to cause their clients to switch to Pinnacle Bank), to retain financial advisors or otherwise to attract customers from other financial institutions; (xv) further deterioration in thevaluation of other real estate owned and increased expenses associated therewith; (xvi) inability to comply with regulatory capital requirements, including those resulting from changes to capital calculation methodologies and required capital maintenance levels; (xvii) risks associated with litigation, including the applicability of insurance coverage; (xviii) the risk of successful integration of thebusinesses Pinnacle Financial has recently acquired with its business; (xix) approval of the declaration of any dividend by Pinnacle Financial’sboard of directors; (xx) the vulnerability of Pinnacle Bank’s network and online banking portals to unauthorized access, computer viruses, phishing schemes, spam attacks, human error, natural disasters, power loss and other security breaches; (xxi) the possibility of increased compliance costs as a result of increased regulatory oversight, including oversight of companies in which Pinnacle Financial or Pinnacle Bank have significant investments, like BHG, and the development of additional banking products for Pinnacle Bank’s corporate and consumer clients; (xxii) the risks associated with Pinnacle Financial and Pinnacle Bank being a minority investor in BHG, including the risk that the owners of a majority of the equity interests in BHG decide to sell the company if not prohibited from doing so by the terms of our agreement with them; (xxiii) the possibility that theincremental cost and/or decreased revenues associated with exceeding $10 billion in assets will exceed current estimates; (xxiv) changes in state and federal legislation, regulations or policies applicable to banks and other financial service providers, like BHG, including regulatory or legislative developments; (xxv) the risk that the cost savings and any revenue synergies from Pinnacle Financial’sproposed merger with BNC may not be realized or take longer than anticipated to be realized; (xxvi) disruption from Pinnacle Financial’sproposed merger with BNC with customers, suppliers, employee or other business partners relationships; (xxvii) the occurrenceof any event, change or other circumstances that could give rise to the termination of the merger agreement between Pinnacle Financial and BNC; (xxviii)the risk of successful integration of Pinnacle Financial’sand BNC’s businesses; (xxix) the failure to obtain the necessary approvals by Pinnacle Financial and BNC shareholders; (xxx) the amountofthe costs, fees, expenses and charges related to Pinnacle Financial’s proposed merger with BNC; (xxxi) reputational risk and the reaction of the parties' customers, suppliers, employees or other business partners to Pinnacle Financial’sproposed merger with BNC; (xxxii) the failure of the closing conditions with respect to Pinnacle Financial’sproposed merger with BNC to be satisfied, or any unexpected delay in closing the proposed merger; (xxxiii) the risk that the integration of Pinnacle Financial’sand BNC's operations will be materially delayed or will be more costly or difficult than expected; (xxxiv) the possibility thatPinnacle Financial’sproposed merger with BNC may be more expensive to complete than anticipated, including as a result of unexpected factors or events; (xxxv) the dilution caused by Pinnacle Financial’sissuance of additional shares of its common stock in its proposed merger with BNC; and (xxxvi) general competitive, economic, political and market conditions. Additional factors which could affect the forward looking statements can be found in Pinnacle Financial’sAnnual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K, or BNC's Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K, in each case filed with the SEC and available on the SEC's website at http://www.sec.gov. Pinnacle Financial and BNC disclaim any obligation to update or revise any forward-looking statements contained in this presentation, which speak only as of the date hereof, whether as a result of new information, future events or otherwise. Safe Harbor Statements Non-GAAP Financial Matters This release contains certain non-GAAP financial measures, including, without limitation, net income, earnings per diluted share, efficiency ratio, core net interest margin, noninterest expense and the ratio of noninterest expense to average assets and noninterest expense to the sum of net interest income and noninterest income, in each case excluding the impact of expenses related to other real estate owned, gains or losses on sale of investments, FHLB prepayments and other matters for the accounting periods presented. This release also includes non-GAAP financial measures which exclude expenses associated with Pinnacle Bank’s mergers with CapitalMarkBank & Trust, Magna Bank, Avenue Financial Holdings, Inc. and BNC, as well as Pinnacle Financial’sand its bank subsidiary’s investments in BHG. This release may also contain certain other non-GAAP capital ratios and performance measures. These non-GAAP financial measures exclude the impact of goodwill and core deposit intangibles associated with Pinnacle Financial’sacquisitions of Avenue, which Pinnacle Financial acquired on July 1, 2016, Magna Bank which Pinnacle Bank acquired on September 1, 2015, CapitalMarkBank & Trust which Pinnacle Bank acquired on July 31, 2015, Mid-America Bancshares, Inc. which Pinnacle Financial acquired on November 30, 2007, Cavalry Bancorp, Inc., which Pinnacle Financial acquired on March 15, 2006 and other acquisitionswhich collectively are less material to the non-GAAP measure. The presentation of the non-GAAP financial information is not intended to be considered in isolation or as a substitute for any measure prepared in accordance with GAAP. Because non-GAAP financial measures presented in this release are not measurements determined in accordance with GAAP and are susceptible to varying calculations, these non-GAAP financial measures, as presented, may not be comparable to other similarly titled measures presented by other companies. Pinnacle Financial believes that these non-GAAP financial measures facilitate making period-to-period comparisons and are meaningful indications of its operating performance. In addition, because intangible assets such as goodwill and the core deposit intangible, and the other items excluded each vary extensively from company to company, Pinnacle Financial believes that the presentation of this information allows investors to more easily compare Pinnacle Financial’sresults to the results of other companies. Pinnacle Financial’smanagement utilizes this non-GAAP financial information to compare Pinnacle Financial’soperating performance for 2017 versus certain periods in 2016 and to internally prepared projections. Additional Information About the Proposed Transaction and Where to Find It Investors and security holders are urged to carefully review and consider each of Pinnacle Financial'sand BNC's public filings with the SEC, including but not limited to their Annual Reports on Form 10-K, their proxy statements, their Current Reports on Form 8-K and their Quarterly Reports on Form 10-Q. The documents filed by Pinnacle Financial with the SEC may be obtained free of charge at Pinnacle Financial'swebsite at www.pnfp.com, under the heading "About Pinnacle" and the subheading "Investor Relations," or at the SEC's website at www.sec.gov. These documents may also be obtained free of charge from Pinnacle Financial by requesting themin writing to Pinnacle Financial Partners, Inc., 150 Third Avenue South, Suite 900, Nashville, Tennessee 37201, Attention: Investor Relations, or by telephone at (615) 744-3700. The documents filed by BNC with the SEC may be obtained free of charge at BNC's website at www.bncbanking.com under the "Investor Relations" section, or at the SEC's website at www.sec.gov. These documents may also be obtained free of charge from BNC by requesting them in writing to BNC Bancorp, 3980 Premier Drive, Suite 210, High Point, North Carolina 27265, Attention: Investor Relations, or by telephone at (336) 869-9200. In connection with the proposed transaction, Pinnacle Financial has filed a registration statement on Form S-4 with the SEC which includes a preliminary joint proxy statement of Pinnacle Financial and BNC and a preliminary prospectus of Pinnacle Financial, and each party will file other documents regarding the proposed transaction with the SEC. Before making any voting or investment decision, investors and security holders of Pinnacle Financial and BNC are urged to carefully read the entire registration statement and the definitive joint proxy statement/prospectus, when they become available, as well as any amendments or supplements to these documents and any other relevant documents filed with the SEC, because they will contain important information about the proposed transaction. A definitive joint proxy statement/prospectus will be sent to the shareholders of each institution seeking the required shareholder approvals. Investors and security holders will be able to obtain the registration statement and the joint proxy statement/prospectus free of charge from the SEC's website or from Pinnacle Financial or BNC as described in the paragraphs above. This communication shall not constitute an offer to sell or the solicitation of an offer to buy securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. Participants in the Solicitation Pinnacle Financial, BNC and certain of their directors and executive officers may be deemed participants in the solicitation of proxies from Pinnacle Financial'sand BNC's shareholders in connection with the proposed transaction. Information about the directors and executive officers of Pinnacle Financial and their ownership of Pinnacle Financial common stock is set forth in the definitive proxy statement for Pinnacle Financial's2017 annual meeting of shareholders, as previously filed with the SEC on March 9, 2017, and other documents subsequently filed by Pinnacle Financial with the SEC. Information about the directors and executive officers of BNC and their ownership of BNC's common stock is set forth in Amendment No. 1 to BNC's 2016 Annual Report on Form 10-K, as previously filed with the SEC on March 24, 2017, and other documents subsequently filed by BNC with the SEC. Shareholders may obtain additional information regarding the interests of such participants by reading the registration statement and the definitive joint proxy statement/prospectus. Free copies of these documents may be obtained as described in the paragraphs above. Safe Harbor Statements $19.74 $20.88 $22.98 $29.26 $34.61 Book Value per Share $0.39 $0.47 $0.62 $0.68 $0.82 FD EPS $3,903 $4,501 $4,789 $7,080 $9,281 Total Deposits (millions) $3,772 $4,182 $4,645 $6,828 $8,642 Total Loans (millions) 12.41% 13.47% 15.56% 15.04% 14.74% ROTCE 0.24% 0.09% 0.12% 0.42% 0.20% NCOs $54,661 $58,640 $69,755 $99,758 $119,148 Total Revenues 1.02% 0.73% 0.58% 0.70% 0.36% NPA/ Loans & OREO 1Q17 Summary Results –GAAP Measures Balance Sheet Growth Earnings Growth Asset Quality Execution of fundamentals fueled exceptional growth in key valuation drivers ---: Reflects historical operating ranges for NPA/ Loans & OREO and Classified Asset Ratio. Reflects target ranges resulting from the annual corporate strategic planning process for NCOs. 26.4% 21.2% 20.3% 24.2% 12.9% Classified Asset Ratio $54,661 $58,640 $69,755 $99,758 $119,148 Total Revenues 0.24% 0.09% 0.12% 0.42% 0.20% NCOs $3,538 $4,087 $4,413 $6,432 $8,288 Total Core Deposits (millions) $0.39 $0.47 $0.62 $0.71 $0.83 FD EPS* 26.4% 21.2% 20.3% 24.2% 12.9% Classified Asset Ratio 12.41% 13.45% 15.56% 15.64% 14.89% ROTCE* 1.02% 0.73% 0.58% 0.70% 0.36% NPA/ Loans & OREO $12.64 $13.93 $16.12 $18.75 $23.25 Tangible Book Value per Share $3,772 $4,182 $4,645 $6,828 $8,642 Total Loans (millions) 1Q17 Summary Results –Non-GAAP Measures Balance Sheet Growth Earnings Growth Asset Quality Up 26.6% yr/yr Up 28.9% yr/yr Up 19.4% yr/yr Execution of fundamentals fueled exceptional growth in key valuation drivers Up 24.0% yr/yr Up 16.9% yr/yr ---: Reflects historical operating ranges for NPA/ Loans & OREO and Classified Asset Ratio. Reflects target ranges resulting from the annual corporate strategic planning process for NCOs. *: excluding tax effected merger-related charges 6 ---: Reflects targets resulting from the annual corporate strategic planning process for the then current period. Pinnacle delivers against lofty strategic targets 1Q17 Summary Results –GAAP Measures 0.50% 0.70% 0.90% 1.10% 1.30% 1.50% Noninterest Income / Average Assets 0.00% 0.05% 0.10% 0.15% 0.20% 0.25% 0.30% 0.35% 0.40% 0.45% 0.50% Net Chargeoff Ratio 3.00% 3.20% 3.40% 3.60% 3.80% 4.00% Net Interest Margin 0.00% 0.20% 0.40% 0.60% 0.80% 1.00% 1.20% 1.40% 1.60% ROAA 1.80% 2.00% 2.20% 2.40% 2.60% 2.80% 3.00% 3.20% Noninterest Expense / Average Assets 7 (1) -Calculation excludes net gains and losses on the sale of investment securities and in the second quarter of 2013 noncredit related loan losses (2) -Calculation excludes OREO expense, FHLB prepayment charges and merger-related charges. Noninterest expense for 2Q13 includes the impact of the reversal of a $2.0 million allowance for off-balance sheet commitments ---: Reflects targets resulting from the annual corporate strategic planning process for the then current period. Pinnacle delivers against lofty strategic targets 1Q17 Summary Results –Non-GAAP Measures 0.60% 1.09% 1.20% 1.45% 1.32% 1.42% 0.00% 0.20% 0.40% 0.60% 0.80% 1.00% 1.20% 1.40% 1.60% ROAA 3.74% 3.90% 3.76% 3.78% 3.78% 3.60% 3.00% 3.20% 3.40% 3.60% 3.80% 4.00% Net Interest Margin 0.83% 0.97% 0.94% 1.23% 1.17% 1.08% 0.50% 0.70% 0.90% 1.10% 1.30% 1.50% Noninterest Income / Average Assets (1) 2.60% 2.51% 2.43% 2.42% 2.37% 2.17% 1.80% 2.00% 2.20% 2.40% 2.60% 2.80% 3.00% 3.20% Noninterest Expense / Average Assets (2) 0.45% 0.24% 0.09% 0.13% 0.42% 0.20% 0.00% 0.05% 0.10% 0.15% 0.20% 0.25% 0.30% 0.35% 0.40% 0.45% 0.50% Net Chargeoff Ratio 1Q17 Summary Results #7 #34 #20 Companies That Care #25 Excited Associates Engaged Clients Enriched Shareholders Pinnacle’s long held philosophy continues to deliver 8 PNFP continued the infrastructure build to support future rapid growth 1.Pinnacle / BNC merger update •Jan. 22 –Announcement of transaction •Apr. 6 –Regulatory approvals obtained •Mid to Late June –Shareholder meetings anticipated •Mid June to Early July –Merger close •September/October –BNCN brand conversion to Pinnacle •October or November –Legacy Pinnacle systems conversion •February 2018 –Final systems conversion for all client accounts •2Q18 –Synergy case fully deployed 2.Aggressive hiring plan–Added 11 revenue producers to our roster. Importantly, 4 in Chattanooga and 5 in Memphis 3.Net loan growth strong –1Q17 net loan growth of $192 mm for PNFP and $165 mmfor BNC 1Q17 Summary Results 9 10 Loan and Deposit Growth are Keys to Earnings Growth Strong performance continues in both total revenues and revenues per share $- $0.50 $1.00 $1.50 $2.00 $2.50 $3.00 $- $20 $40 $60 $80 $100 $120 Revenues per diluted WAVG share Total Revenues (000's) Fee incomeNIITotal revenue per share Rev/Share -$2.58 exclusive of 1Q17 capital raise 11 Linked-quarter loan volume growth remains strong $3,191 $3,212 $3,207 $3,262 $3,280 $3,403 $3,489 $3,580 $3,682 $3,845 $3,932 $3,981 $4,130 $4,251 $4,358 $4,436 $4,625 $4,737 $5,690 $6,458 $6,742 $6,998 $8,233 $8,357 $8,558 4.88% 4.49% 0.00% 1.00% 2.00% 3.00% 4.00% 5.00% $- $2,000 $4,000 $6,000 $8,000 $10,000 Loan Yields Average Loans (millions) Avg. LoansLoan Yields Loan Yields approx. 4.26% exclusive of purchase accounting Loan and Deposit Growth are Keys to Earnings Growth 12 Average deposit balances grew $300+ million in 1Q17 $3,772 $3,723 $3,700 $3,642 $3,597 $3,636 $3,706 $3,883 $3,950 $3,963 $4,199 $4,408 $4,510 $4,519 $4,655 $4,758 $4,792 $4,885 $5,898 $6,787 $7,037 $7,093 $8,454 $8,791 $9,099 0.25% 1.00% 1.01% 0.36% 0.00% 0.20% 0.40% 0.60% 0.80% 1.00% 1.20% 1.40% 1.60% 1.80% 2.00% $- $1,000 $2,000 $3,000 $4,000 $5,000 $6,000 $7,000 $8,000 $9,000 $10,000 Avg. Deposits (millions) Avg. DepositsFed Funds TargetCost of Deposits Loan and Deposit Growth are Keys to Earnings Growth 2.25% 0.86% 4.05% 3.88% 0.50% 1.00% 1.50% 2.00% 2.50% 3.00% 3.50% 4.00% 4.50% Client Margin & Wholesale Margin Trends Wholesale MarginClient Margin Core Net Interest Margin Trends Stabilizing 3.00% 3.20% 3.40% 3.60% 3.80% 4.00% 1Q112Q113Q114Q111Q122Q123Q124Q121Q132Q133Q134Q131Q142Q143Q144Q141Q152Q153Q154Q151Q162Q163Q164Q161Q17 Net Interest Margin –Reported & Core Net Interest MarginCore Net Interest Margin Core Margin (*) appears to be stabilizing after moving 40 bps since early 2015 (*) Core excludes impact of discount accretion income; amounts prior to 2015 are insignificant Client margin (#) seeing uptick with Fed funds increases Wholesale margin decreases impacted by sub debt issuances (#) Client margin excludes impact of purchase accounting and nonprime auto loans Source: Internal documents Loan and Deposit Growth are Keys to Earnings Growth 0.0% 2.0% 4.0% 6.0% 8.0% 10.0% 12.0% Mar-16Jun-16Sep-16Dec-16Feb-17 Ramped Asset Sensitivity ** Up 100Up 200 14 Balance sheet is well-positioned for rising rates **: Information from internal records, excludes proposed merger of BNC. Information represents change in net interest income of the Company based on a consistent rate increase each month for 12 months across all tenors of the US Treasury curve –Static Balance Sheet. Volumes @ March 31, 2017 (in billions) Prime RateLoans$1.8 30-dayLibor2.4 Overnight cash0.1 Less: Libor funding(0.3) Less: Fed fundsfunding(0.5) Net volumes*$3.5 *: Also affecting net interest income sensitivity are approximately $5.5 billion in administered rate deposits which consider an approximate 65% beta factor assumption with assumed lag factors. Source: Internal documents Loan and Deposit Growth are Keys to Earnings Growth 44% 3% 53% 15 Earning Asset Composition 29% 15% 33% 6% 17% 19% 11% 33% 13% 24% 25% 13% 33% 8% 20% Variable rate assets Assets with floors Fixed rate assets DDAs Interest Checking MMA / Savings Core CD’s Noncore funding Funding Composition 51% 4% 45% 61% 6% 33% Source: Company information and BNC, purchase accounting not considered, data as of March 31, 2017 Loan and Deposit Growth are Keys to Earnings Growth PNFP and BNCN balance sheets combined should produce asset sensitivity 16 Fee businesses produce another strong quarter –Up 17.5% year-over-year 1Q174Q163Q162Q161Q16 Service charges$3,856$3,850$3,778$3,430$3,443 Investment services2,8223,3202,5922,5002,346 Insurance commissions1,8591,1781,2331,1931,706 Gain on mortgage loans sold, net4,1552,8695,0974,2213,568 Trust fees1,7051,7341,5231,4921,581 Income from equity method investment7,8238,1368,4759,6445,148 Other: Securities gains (losses) -395--- Interchange and other consumer fees6,1516,1716,4645,7685,819 Bank-owned life insurance1,099952955878762 Loan swap fees2614958591,780730 Other6511,6437161,807755 Total noninterest income$30,382$30,743$31,692$32,713$25,856 Total Assets (Quarterly Average)$11,421,654$11,037,557$10,883,546$9,305,941$8,851,978 Noninterest income/Average Assets1.08%1.11%1.16%1.41%1.17% Fee Businesses also Contribute to Earnings Growth 17 1Q17 expenses remain inside strategic targets 1Q174Q163Q162Q161Q16 Salaries and benefits$38,352$37,994$36,053$34,254$32,517 Equipment and occupancy9,6759,2289,4018,3128,130 Other real estate owned2524417222112 Marketing and business development1,8792,3861,3501,5381,263 Postage and supplies1,1961,0009221,050957 Intangible amortization1,1961,1371,425847873 Merger related expense6723,2645,6729801,830 Other expenses8,8317,7128,6868,7278,382 Total noninterest expense$62,053$62,765$63,526$55,931$54,064 Efficiency ratio52.1%52.2%53.7%51.9%54.2% Expense/Total Average Assets2.20%2.26%2.32%2.42%2.46% Core noninterest expense **$61,130$59,457$57,837$54,729$52,122 Core efficiency ratio51.3%49.6%48.9%50.8%52.2% Core Noninterest Expense**/Total Average Assets2.17%2.14%2.11%2.37%2.37% ** Excludes the impact of OREO expense, FHLB prepayment charges and merger related expenses PNFP Focuses on Strategic Expense Management PNFP Remains Focused on Long-term Shareholder Value 18 High growth urban markets across the Southeast provide further opportunity BNC BNC BNC BNC BNCBNC BNC BNC BNC 19 PNFP is getting great traction in recent market extensions MarketAt 3/31/17At 12/31/16At 12/31/151Q17 Net % change Loans (000’s)Memphis7637364583.7% Chattanooga8538007086.6% Core Deposits (000’s) Memphis7166613858.3% Chattanooga67355950520.4% RevenueProducersMemphis524740 Chattanooga383423 PNFP Remains Focused on Long-term Shareholder Value De novo Sizing •Nashville, Knoxville experience –Approximately $2.0 million in cumulative losses prior to break-even –Approximately 12-18 months to break- even •Key management with capacity to build $2.0 billion bank –no LPO •15-20 associates in initial hiring phase M&A Criteria •At least $1 billion in assets •Commercial thrust •Management continuation •Sustainable core profitability •Capacity to achieve mass in market •>5% EPS accretion in first full year 20 PNFP Remains Focused on Long-term Shareholder Value Opportunities likely exist for de novo or merger related expansion PNFP Remains Focused on Long-term Shareholder Value 21 PNFP is focused on Tennessee andthe Southeast 1.Continuation of current high growth, high profit plan 2.Explore expansion to other high growth southeastern markets Q&A – First Quarter 2017 Investor Call Supplemental Information 23 Chart •Balance Sheet •Asset Quality •Income Statement •Pinnacle Financial Partners profile •Economic and Market Conditions Balance Sheet Supplemental Information 24 Loan portfolio is well diversified Balance Sheet 25 Amts. 1Q17 %’s(*) 1Q17 Amts. 4Q16 %’s(*) 4Q16 Amts. 1Q16 %’s(*) 1Q16 Amts. 1Q15 %’s 1Q15 C&D and Land$1,015.111.8%$912.710.8%$764.111.2%$324.57.0% Consumer RE1,196.413.8%1,185.914.0%1,042.315.3%723.915.6% CRE –Owner Occ.1,399.516.2%1,354.916.0%1,099.716.1%767.316.5% CRE –Investment1,386.416.0%1,444.217.1%995.814.6%609.813.1% Other RE loans395.74.6%394.44.7%245.33.6%183.64.0% Total real estate5,393.162.4%5,292.162.6%4,147.260.8%2,609.156.2% C&I2,980.834.5%2,891.734.2%2,434.635.6%1,810.839.0% Other loans268.13.1%266.13.1%246.13.6%225.44.9% Total loans$8,642.0100.0%$8,449.9100.0%$6,827.9100.0%$4,645.3100.0% (*) as a percentage of total loans (*) as a percentage of total loans Balance Sheet 26 Construction portfolio reflects discipline Amts. 1Q17 %’s(*) 1Q17 Amts. 4Q16 %’s(*) 4Q16 Amts. 1Q16 %’s(*) 1Q16 Amts. 1Q15 %’s(*) 1Q15 Residential –Spec$200.72.3%$195.72.3%$120.91.9%$39.00.8% Residential –Custom96.91.1%81.91.0%97.11.4%36.00.8% Residential –Condo5.60.1%5.20.1%15.30.2%2.40.1% Commercial Construct.429.85.0%347.14.1%280.74.1%143.73.1% Land Dev–Residential111.21.3%116.31.4%88.31.3%64.31.4% Land Dev –Commercial167.42.0%162.71.9%160.02.3%37.90.8% Land –Unimproved3.50.0%3.80.1%1.80.0%1.10.0% Total C&D$1,015.111.8%$912.710.8%$764.111.2%$324.47.0% Balance Sheet The C&I loan portfolio is highly diversified 27 NAICS SectorDescription1Q174Q161Q16 Accommodation and Food Services 3.90%4.11%3.93% Admin. and Support and Waste Mgmt& Remediation2.69%2.97%2.57% Agriculture, Forestry, Fishing and Hunting 0.12%0.09%0.16% Arts, Entertainment, and Recreation 1.77%1.73%1.19% Construction 4.40%5.20%4.42% Consumer 6.09%7.21%6.83% Educational Services 1.72%1.80%1.79% Finance and Insurance 11.65%11.30%10.65% Health Care and Social Assistance 11.40%12.29%14.40% Information 4.38%3.62%2.09% Management of Companies and Enterprises 0.53%0.67%0.14% Manufacturing 7.59%7.27%7.67% Mining, Quarrying, and Oil and Gas Extraction 0.31%0.31%0.02% Other Services (except Public Administration) 2.21%2.00%2.10% Professional, Scientific, and Technical Services 4.72%4.73%3.60% Public Administration 2.95%2.92%3.27% Real Estate and Rental and Leasing 10.27%9.79%11.09% Retail Trade 8.20%7.16%7.88% Transportation and Warehousing 6.67%6.69%7.63% Utilities 0.04%0.04%0.06% Wholesale Trade 8.38%8.11%8.53% Total C&I Portfolio 100.00%100.00%100.00% Balance Sheet 28 PNFP remains focused on relationship funding 3/31/2017Percent12/31/2016Percent Core Funding: Non-interest bearing deposits$2,508,68025.25%$2,399,19124.99% Interest-bearing deposits1,869,57018.82%1,737,99618.10% Money Market accounts3,345,72733.68%3,185,18633.17% Time deposits less than $250,000564,2705.68%512,5995.34% Total Core Funding8,288,24783.43%7,834,97381.60% Relationship based non-core funding: Reciprocal NOW deposits30,7250.31%70,3360.73% Reciprocal MMDA deposits537,6245.41%529,7445.52% Time deposits Reciprocal time deposits49,3310.50%58,8380.61% Other time deposits208,0602.09%198,6892.07% Securities sold under agreements to repurchase71,1570.72%85,7070.89% Total relationship based non-core funding896,8979.03%943,3149.82% Wholesale funding: Time deposits greater than $250,000 Public funds-0.00%-0.00% Brokered deposits166,6101.68%66,7270.69% FHLB advances181,2641.83%406,3044.23% Federal funds purchased50,0000.50%-0.00% Sub Debt and other funding350,8493.53%350,7683.65% Total wholesale funding748,7237.54%823,7998.58% Total non-core funding1,645,62016.57%1,767,11318.40% Totals$9,933,867100.00%$9,602,086100.00% Unfunded line commitments hold potential for significant loan growth 29 Note: Excludes HELOCS and credit cards Balance Sheet $959 $1,000 $975 $1,009 $1,054 $1,055 $1,138 $1,105 $1,166 $1,190 $1,216 $1,247 $1,349 $1,375 $1,376 $1,440 $1,538 $2,087 $2,084 $2,146 $2,252 $2,784 $2,955 $3,034 $715 $685 $779 $808 $787 $815 $865 $941 $926 $989 $1,024 $1,028 $1,046 $1,131 $1,177 $1,221 $1,372 $2,407 $2,015 $2,117 $2,330 $2,734 $3,092 $3,030 57.30% 0.00% 10.00% 20.00% 30.00% 40.00% 50.00% 60.00% 70.00% $- $1,000 $2,000 $3,000 $4,000 $5,000 $6,000 $7,000 Funded % Total Commitments (millions) Net active balanceUnfunded CommitmentsFunded % 30 Balance Sheet The securities book yields increase in 1Q17 3.58% 2.44% 20.75% 12.62% 0.00% 5.00% 10.00% 15.00% 20.00% 25.00% 30.00% 35.00% 40.00% 0.00% 0.50% 1.00% 1.50% 2.00% 2.50% 3.00% 3.50% 4.00% Bond Yields% of Avg. Assets Conservative bond portfolio Balance Sheet 31 Portfolio: March 31, 2017 Total Investments $1.605 billion Unrealized Gain (Loss)$ (12.7) million QTD Purchases$ 336.3 million QTD Sales$ 1.4 million Duration Avg Yield –TE 1Q17 3.4% 2.4% 4Q163.2%2.3% 3Q162.8%2.3% 2Q162.4%2.5% 1Q162.7%2.6% 4Q15 3.0%2.5% 3Q152.8%2.6% 0.0% 0.3% 59.0% 5.7% 18.3% 16.7% AgencyCorporatesMBS Asset BackedCMOsMunicipals As of 3/31/2017Book Yield Effective Duration Agency.99%.64% Asset Backed2.17%.15% Corporates4.10%3.88% CMOs1.95%1.85% MBS2.28%3.73% Municipals4.18%5.23% Total2.44%3.32% ●Investment portfolio at $1.605 billion, up $280 million vs Q4 due primarily to investment of capital raise proceeds of $191.2 mm ●Duration rising gradually as expected through rate tightening cycle ●Investmentsto Total Assets of 13.7% Asset Quality Supplemental Information 32 33 Past due loans remain very low Asset Quality (*) >30 days past due (**) includes purchase credit impaired loans (000’s) Mar. 31, 2017 As a % of total loans Dec. 31, 2016 As a % of total loans Mar.31, 2016 As a % of total loans PastDue Loans (*) Nonaccrualloans**$10,0110.12%$10,8730.13%$9,5920.14% Accruing loans14,6840.17%22,3310.26%22,0640.32% Total pastdue$24,6950.29%$33,2040.39%$31,6560.46% 34 NPLs and loans >90 days past due & accruing remain very low Asset Quality (000’s) PNFP NPLs and >90 days Mar. 31, 2017 As a % of totalloans Dec. 31, 2016 As a % of totalloans Mar. 31, 2016 As a % of totalloans Const. and land development $4,1120.05%$6,6130.08% $7,9630.12% Consumer RE 8,8570.10%8,1270.10% 10,1960.15% CRE –Owner Occupied 3,4010.04%4,2540.05% 4,5450.07% CRE –Investment 6490.01%6660.01% 8140.01% Total real estate 17,0190.20%19,6610.23% 23,5180.34% C&I 7,2580.08%7,4950.09% 19,2760.28% Other1,8840.02%1,5560.02%4,2860.06% Total loans $26,1610.30%$28,7110.34% $47,0800.69% NPLs Expressed as a % of Total Loans within each Category 35 Asset Quality Classified assets remain low (in thousands) Balances Mar. 31, 2017 Balances Dec. 31, 2016 Balances Mar. 31, 2016 Classified loans and ORE: -Substandard commercial loans$138,720$148,460$155,125 -Doubtful commercial loans11- -Other impaired loans11,2629,82017,639 -90 days past due and accruing (*)1,1101,1344,556 -Other real estate6,2356,0904,687 -Other repossessed assets--651 Total$157,328$165,505$182,658 Pinnacle Bank classified asset ratio12.9%16.4%24.2% (*) Includes loans 90 days past due and accruing not included elsewhere Income Statement Supplemental Information 36 Income Statement Mortgage volumes strong in 1Q17 37 1.00% 2.00% 3.00% 4.00% 5.00% 0 50,000 100,000 150,000 200,000 250,000 Purchase MoneyRefinanceGross fees as a % of loans originated Income Statement 38 1Q174Q163Q162Q161Q16 Net interest income$88,767$89,413$86,635$75,044$73,902 Total noninterest income$30,382$30,743$31,692$32,713$25,856 Less: Securities (gains) losses-(395)--- Noninterest income, excluding investment (gains) and losses on sales of securities, net $30,382$30,347$31,692$32,713$25,856 Total noninterest expense$62,054$62,765$63,526$55,931$54,064 Less: ORE expenses2524417222112 Merger-related charges6723,2645,6729801,830 Noninterest expense, excluding the impact of ORE expense and merger- related charges$61,130$59,457$57,837$54,729$52,122 Adjusted pre-tax pre-provision income$58,019$60,304$60,490$53,028$47,636 Efficiency ratio52.1%52.2%53.7%51.9%54.2% Adjustment due to securities gains and losses, ORE expense and merger- related charges (0.8%)(2.6%)(4.8%)(1.1%)(2.0%) Core Efficiency ratio**51.3%49.6%48.9%50.8%52.2% Reconciliation of Non-GAAP measures **: Excluding ORE expense, merger-related charges and securities gains and losses Income Statement 39 1Q174Q163Q162Q161Q16 Total non-interest income $30,382$30,743$31,692$32,713$25,856 Less: Securities (gains) losses -(395)--- Noninterest income, excluding the impact of net gains and losses on sale of investment securities $30,382$30,347$31,692$32,713$25,856 Total noninterest expense$62,054$62,765$63,526$55,931$54,064 Less: ORE expenses2524417222112 Merger-related charges6723,2645,6729801,830 Noninterest expense, excluding ORE expense and merger-related charges$61,130$59,457$57,837$54,728$52,122 Adjusted pre-tax pre-provision income$58,019$60,304$60,490$53,028$47,636 Total Assets (Quarterly Average)$11,421,654$11,037,557$10,883,546$9,305,941$8,851,978 Noninterest income/ Average assets1.08%1.11%1.16%1.41%1.17% Adjustment due to gains and losses on sale of investment securities ----- Noninterest income, excluding the impact of net gains and losses on sale of investment securities/Average Assets1.08%1.11%1.16%1.41%1.17% Noninterest expense/ Average assets2.20%2.26%2.32%2.42%2.46% Adjustment due to ORE expense and merger-related charges(0.03%)(0.12%)(0.21%)(0.05%)(0.09%) Noninterest expense, excluding ORE expense and merger-related charges/ Average Assets2.17%2.14%2.11%2.37%2.37% Reconciliation of Non-GAAP measures Income Statement 40 1Q174Q163Q162Q161Q16 Net income$39,653$36,097$32,376$30,787$27,965 Merger-related charges6723,2645,6729801,830 Tax effect on merger-related charges(264)(1,281)(2,225)(385)(718) Net income less merger-related charges$40,061$38,080$35,823$31,382$29,077 Basic earnings per share $0.83$0.79$0.71$0.75$0.70 Adjustment to basic earnings per share due to merger-related charges0.010.050.080.010.03 Basic earnings per share excluding merger-related charges $0.84$0.84$0.79$0.76$0.73 Diluted earnings per share$0.82$0.78$0.71$0.73$0.68 Adjustment to diluted earnings per share due to merger-related charges0.010.050.070.020.03 Diluted earnings per share excluding merger-related charges$0.83$0.83$0.78$0.75$0.71 Book value per share$34.61$32.28$31.97$29.92$29.26 Adjustment due to goodwill, core deposit and other intangible assets(11.36)(12.22)(12.28)(10.34)(10.51) Tangible book value per share$23.25$20.06$19.69$19.58$18.75 Reconciliation of Non-GAAP measures Income Statement 41 Reconciliation of Non-GAAP measures 1Q174Q163Q162Q161Q16 Net income $39,653$36,097$32,376$30,787$27,965 Merger-related charges6723,2645,6729801,830 Tax effect on merger-related charges (264)(1,281)(2,225)(385)(718) Net income less merger-related charges $40,061$38,080$35,823$31,382$29,077 Return on average assets 1.41%1.30%1.18%1.33%1.27% Adjustment due to merger-related charges 0.01%0.07%0.13%0.03%0.05% Return on average assets (excluding merger-related charges) 1.42%1.37%1.31%1.36%1.32% Average stockholders’ equity $1,723,075$1,493,684$1,442,440$1,247,762$1,188,153 Less: Average goodwill (551,548)(551,042)(541,153)(431,155)(430,228) Average core deposit and other intangible assets (14,674)(15,724)(11,296)(9,367)(10,237) Net Average tangible common equity $1,090,850$926,918$889,991$807,240$747,688 Return on average common equity9.70%9.61%8.93%9.92%9.47% Adjustment due to goodwill, core deposit and other intangible assets5.04%5.88%5.54%5.42%5.57% Return on average tangible common equity14.74%15.49%14.47%15.34%15.04% Adjustment due to merger related charges0.15%0.85%1.54%0.30%0.60% Return on average tangible common equity (excluding merger-related charges) 14.89%16.34%16.01%15.64%15.64% Total average assets$11,421,654$11,037,555$10,883,546$9,305,941$8,851,978 Income Statement 42 Reconciliation of Non-GAAP measures 1Q174Q163Q162Q161Q164Q153Q152Q151Q154Q143Q142Q141Q14 Client Margin 4.13%4.24%4.08%4.19%4.19%4.15%4.05%4.04%4.12%4.10%4.10%4.07%4.10% Margin adjustments due to: Nonprime Auto Loans 0.02%0.04%0.12%0.16%0.13%0.13%0.13%0.20%0.16%0.14%0.09%0.07%0.05% Purchase Accounting 0.23%0.35%0.23%0.26%0.22%0.20%0.11%0.00%0.00%0.00%0.00%0.00%0.00% Adjusted Client Margin 3.88%3.85%3.73%3.77%3.84%3.83%3.81%3.84%3.96%3.96%4.01%4.00%4.05% Pinnacle Financial Partners Profile Supplemental Information 43 PNFP Profile 44 Headquarters:Nashville, TN Founded: 2000 Total assets:$11.725 Billion (3/31/17) Shareholders’ equity:$1.723 Billion (3/31/17) Offices: 30 in 8 Middle-TN counties 9 in 5 East-TN counties 5 in West-TN Avg. daily trading volume **: 315,511 shares % Institutional ownership: 68.3% (12/31/16) Recently completed acquisitions positions firm in four great banking markets **: 50 day average daily volume per NASDAQ.com as of 4/7/2017 PNFP Profile 45 PNFP has an extraordinarily experienced team of entrepreneurs NameTitleAgeYearsin Banking Industry Yearsat Pinnacle M. Terry TurnerPresident and ChiefExecutive Officer613816 RobertA. McCabe, Jr. Chairmanof the Board663916 Hugh M. QueenerChief Administrative Officer604116 HaroldR. Carpenter, Jr. Chief Financial Officer573316 J. Harvey WhiteChief Credit Officer/Knoxville Regional Executive67427 D.Kim JennyRisk Management Officer62419 WilliamS. JonesRutherfordCounty Area Executive563424* J. Edward WhiteManager, Client Advisory Group -Nashville644116 R. CraigHolleyChattanooga Regional Executive593510* Kirk BaileyMemphis Regional Executive613417* Ron SamuelsFormer CEOAvenue Financial Holdings, Inc.704310* Kent CleaverFormerPresident Avenue Financial Holdings, Inc.603910* * -Includes years at acquired franchise. PNFP Profile 46 Nashville-Davidson-Rutherford MSAKnoxvilleMSA Top 10 Market Share Rank Holding Company Market Share 6/30/16 Market Share 6/30/00 (1) Change in Share Top 10 Market Share Rank Holding Company Market Share 6/30/16 Market Share 6/30/07 (1) Change in Share 3Pinnacle Financial Partners 11.81%1.74% 10.07%6Pinnacle Financial Partners 5.26%0.03% 5.23% 6 FranklinFinancial Network Inc.4.53%- 4.53%7Bank of America Corp. 3.80%2.00% 1.80% 1 Bank of America Corp 16.13%14.59% 1.54%10 Mountain Commerce Bancorp, Inc. 1.78%0.00%1.78% 5FirstHorizon National Corp. 6.51%5.13% 1.38%1SunTrustBanks Inc. 17.86%16.19% 1.67% 8WilsonBank Holding Co. 3.30%2.34% 0.96%9Clayton HC Inc. 2.32%1.10% 1.22% 10WellsFargo & Co. 2.80%2.05% 0.75% 5 BB&T Corp. 6.46%6.19% 0.27% 9FifthThird Bancorp 2.91%2.29% 0.62%4Home Federal Bank of TN 9.91%10.87% (0.96%) 7U.S.Bancorp 3.52%7.35% (3.83%)8United Community Banks Inc. 2.80%5.30 (2.50%) 4SunTrustBanks Inc. 11.43%18.60% (7.17%)2First Horizon 16.14%19.11% (2.97%) 2RegionsFinancial Corp. 13.88%29.06% (15.18%)3Regions 13.58%18.25 (4.67%) Other 23.18%16.87% 6.31% Other 20.09%19.03% 1.06% Total100%100%Total100%100% PNFP has a track record for “best-in-market” share movement Source: SNL Financial; Amounts reflect aggregation of banks merged prior to 6/30/16. (1): First year Pinnacle’s deposits were reflected in FDIC Summary of Deposits data. Market share at 6/30/00 for Nashville reflects impact of Cavalry Bancorp, Inc. which was acquired by Pinnacle in March of 2006. Market share at 6/30/16 is pro- forma for inclusion of Avenue Financial Holdings, Inc. which was acquired by Pinnacle July 1, 2016. PNFP Profile 47 Chattanooga TN-GA MSAMemphis,TN-MS-AR MSA Top 10 Market Share Rank Holding Company Market Share 6/30/16 Market Share 6/30/15 (1) Change in Share Top 11 Market Share Rank Holding Company Market Share 6/30/16 Market Share 6/30/15 (1) Change in Share 7 FB FinancialCorporation3.44%0.00%3.44% 1First Horizon NationalCorp.33.13%29.87%3.26% 10Atlantic Capital Bancshares, Inc.3.23%0.00%3.23%4Bank of America Corp.4.39%4.10%0.29% 4Pinnacle Financial Partners6.56%3.75%2.81%6Independent Holdings Inc.3.02% 2.83% 0.19% 1FirstHorizon National Corp.24.61%23.46%1.15% 10 Wells Fargo & Co.1.85%1.72%0.13% 6Bank of America Corp.4.34%3.75%0.59%8Metropolitan BancGroupInc.2.11%1.98%0.13% 9 Sequatchie Valley Bancshares Inc. 3.30%3.27%0.03%9Landmark Community Bank2.11% 2.04% 0.07% 5First Volunteer Corp.4.58%4.74%(0.16%)11 Pinnacle Financial Partners1.68% 1.65% 0.03% 8SmartFinancialInc.3.35%3.68%(0.33%)5BancorpSouthInc.3.34%3.36%(0.02%) 2SunTrustBanks Inc.18.06%13.13%(0.34%)7Trustmark Corp.2.44%2.85%(0.41%) 3Regions Financial Corp.12.79%19.42%(1.36%)2Regions Financial Corp.14.33%16.14%(1.81%) Other 15.74%24.80% (9.06%)3SunTrust Banks Inc.7.73% 10.20% (2.47%) Total100%100% Other 23.87%22.08%1.79% Total100%100% PNFP has a track record for “best-in-market” share movement Source: SNL Financial; Amounts reflect aggregation of banks merged prior to 2016. (1): Market share at 6/30/15 for Chattanooga and Memphis reflects impact of the recently completed acquisitions of CapitalMarkBank & Trust and Magna Bank, respectively. Economic & Market Conditions Supplemental Information 48 PNFP operates in advantaged markets 49 MSATotal Deposits ($000) Total Population 2017 (actual) Population Change 2010 -2017 (%) Median HH Income 2017 ($) Per Capita Income 2017 ($) Nashville-Davidson--Murfreesboro--Franklin, TN51,900,622 1,881,52412.6157,22231,399 Memphis, TN-MS-AR28,030,646 1,347,4041.7048,91326,455 Knoxville, TN14,651,761 868,4533.6947,17827,570 Chattanooga, TN-GA9,299,665 552,9444.7049,40527,618 Kingsport-Bristol-Bristol, TN-VA4,263,979 306,759(0.90)41,36424,422 Clarksville, TN-KY3,468,934 286,1409.7947,60522,862 Johnson City, TN2,600,753 201,0331.1740,21424,428 Cookeville, TN2,226,784 108,7822.5837,05321,819 Jackson, TN2,161,539 129,338(0.52)43,71724,182 Sevierville, TN2,091,078 97,6878.6843,85523,528 Cleveland, TN1,688,794 122,4655.7745,65924,648 Tullahoma-Manchester, TN1,519,976 102,8732.6644,04424,014 Morristown, TN1,427,892 117,5913.1942,10621,915 Union City, TN-KY1,010,526 36,410(5.72)38,86121,784 Crossville, TN956,921 58,8114.9240,72823,433 Athens, TN948,822 52,7290.8941,64021,590 McMinnville, TN823,895 40,7752.3537,65221,247 Greeneville, TN748,295 68,639(0.28)39,02521,148 Dyersburg, TN667,944 37,792(1.42)44,97624,781 Shelbyville, TN661,984 48,0886.7244,46320,979 Tennessee135,502,447 6,676,8415.2147,29426,752 United States9,741,234,831 325,139,2715.3157,46231,459 Source:Nielsen Demographic data is provided by Nielsen based primarily on US Census data. For non-census year data, Nielsen uses samples and projections to estimate the demographic data. SNL performs calculations on the underlying data provided by Nielsen for some of the data presented on this page. TENNESSEE •Tennessee is fourth overall and in the top 10 of every category in “Top States for Doing Business”Area Development •Tennessee ranked No. 1 in the nation for job creation from foreign direct investmentIBM Global Location Trends •Tennessee ranked No. 3 in the inaugural Prosperity Cup, which is based on the states’ Site Selection business climate, tax climate, performance in state competitiveness index and number of national career readiness certificates according to ACT. NASHVILLE Nashville has achieved “it city” status, landing on several major national publications’ lists of hot spots. Nashville’s diverse economy, thriving cultural base and strong business community are major attractions for corporations. Top accolades in 2016 were: •Nashville ranked No. 1 among the nation’s 100 largest metros in advanced industry job growthBrookings Institution •Nashville is No. 1 among America’s 50 biggest metropolitan areas with the biggest householdWall Street Journal income gains •Nashville placed No. 3 among most cost-friendly cities for business among peer metros with betweenKPMG 750,000 and 2 million people. Among the mid-size cities examined, Nashville has the lowest total labor costs and transportation costs. KNOXVILLE Knoxville also enjoys a very healthy and diverse economy with an excellent transportation and technology infrastructure. The Knoxville metropolitan area was the third fastest MSA in the country to fully recover from jobs lost in the 2007-2010 recession and currently enjoys the lowest unemployment rate of Tennessee’s metro areas. Good news in 2016 included: •Knoxville named one of the ‘American Cities Adding the Most Jobs This Year’247WallSt.com •Knoxville ranks as fifth lowest-cost city for starting a new businessSmartAsset Pinnacle operates in advantaged markets 50 MEMPHIS Memphis offers a diverse, metropolitan workforce. Over the past three decades, the presence of companies like FedEx and the region’s superior distribution infrastructure have earned Memphis the title, “America’s Distribution Center.” •Memphis ranks No. 3 in the nation in terms of lowest rent-to-income ratioSmartAsset •Memphis sees strongest job growth since 1996Tennessee Department of Labor and Workforce Development CHATTANOOGA Chattanooga is Tennessee’s fourth-largest MSA as measured by both population and deposits. National publications have declared Chattanooga a tech hub and manufacturing magnet. Economic drivers in 2016 included: •Chattanooga named among “best communities for retirees”Kiplinger •Chattanooga ranked No. 4 out of the top 10 metro areas as a top city for minority-ownedSmartAsset businesses Pinnacle operates in advantaged markets 51 52 PNFP operates in advantaged markets Job growth is occurring in all four markets Source: BERC –Middle Tennessee State University & Bureau of Labor Statistics, Greater Nashville Area Realtors 650,000 700,000 750,000 800,000 850,000 900,000 950,000 1,000,000 Nashville MSA Nonfarm Payrolls-SA (thru January 2017) 330,000 340,000 350,000 360,000 370,000 380,000 390,000 400,000 410,000 Knoxville MSA Nonfarm Payrolls-SA (thru January 2017) 205,000 210,000 215,000 220,000 225,000 230,000 235,000 240,000 245,000 250,000 255,000 260,000 Chattanooga MSA Nonfarm Payrolls-SA (thru January 2017) 560,000 570,000 580,000 590,000 600,000 610,000 620,000 630,000 640,000 650,000 Memphis MSA Nonfarm Payrolls-SA (thru January 2017) Nashville’s commercial vacancy rates indicate a healthy market PNFP Operates in Advantaged Markets 53 Source: Costar Note: 1Q17 rates not available at time of release. CREVacancy Rates NashvilleKnoxvilleChattanoogaMemphis 4Q16 % Change from PY 4Q16 % Change from PY 4Q16 % Change from PY 4Q16 % Change from PY Industrial / Warehouse 4.0%(22.4%)3.4%(46.7%)6.3%(21.0%)7.1%(17.1%) Multifamily 8.0%22.3%5.3%3.3%5.5%(19.1%)9.6%13.7% Retail 3.3%(23.5%)5.3%(12.1%)4.1%(26.2%)6.8%(11.9%) Office 4.1%(17.8%)6.0%(23.1%)5.6%(36.7%)10.5%(2.2%) First Quarter 2017 Investor Call M. Terry Turner, President and CEO Harold R. Carpenter, EVP and CFO April 18, 2017

Third   Quarter   2017 Investor   Call M.   Terry   Turner,   President   and   CEO Harold   R.   Carpenter,   EVP   and   CFO October   18,   2017 Forward   Looking   Statements   All   statements,   other   than   statements   of   historical   fact,   included   in   this   presentation,   are   forward ‐ looking   statements   within   the   meaning   of   the   Private   Securities   Litigation   Reform   Act   of   1995,   Section   27A   of   the   Securities   Act   and   Section   21E   of   the   Exchange   Act.   The   words   "expect,"   "anticipate,"   "intend,"   "plan,"   "believe,"   "seek,"   "estimate"   and   similar   expressions   are   intended   to   identify   such   forward ‐ looking   statements,   but   other   statements   not   based   on   historical   information   may   also   be   considered   forward ‐ looking   statements.   These   forward ‐ looking   statements   are   subject   to   known   and   unknown   risks,   uncertainties   and   other   factors   that   could   cause   the   actual   results   to   differ   materially   from   the   statements,   including,   but   not   limited   to: (i)   deterioration   in   the   financial   condition   of   borrowers   resulting   in   significant   increases   in   loan   losses   and   provisions   for   those   losses;   (ii)   continuation   of   the   historically   low   short ‐ term   interest   rate   environment;   (iii)   the   inability   of   Pinnacle   Financial,   or   entities   in   which   it   has   significant   investments,   like   BHG,   to   maintain   the   historical   growth   rate   of   its,   or   such   entities',   loan   portfolio;   (iv)   changes   in   loan   underwriting,   credit   review   or   loss   reserve   policies   associated   with   economic   conditions,   examination   conclusions,   or   regulatory   developments;   (v)   effectiveness   of   Pinnacle   Financial's asset   management   activities   in   improving,   resolving   or   liquidating   lower ‐ quality   assets;   (vi)   increased   competition   with   other   financial   institutions;   (vii)   greater   than   anticipated   adverse   conditions   in   the   national   or   local   economies   including   in   Pinnacle   Financial's markets   throughout   Tennessee,   North   Carolina,   South   Carolina   and   Virginia, particularly   in   commercial   and   residential   real   estate   markets;   (viii)   rapid   fluctuations   or   unanticipated   changes   in   interest   rates   on   loans   or   deposits;   (ix)   the   results   of   regulatory   examinations;   (x)   the   ability   to   retain   large, uninsured   deposits;   (xi)   a   merger   or   acquisition,   like   Pinnacle   Financial's merger   with   BNC;   (xii)   risks   of   expansion   into   new   geographic   or   product   markets;   (xiii)   any   matter   that   would   cause   Pinnacle Financial   to   conclude   that   there   was   impairment   of   any   asset,   including   intangible   assets;   (xiv)   reduced   ability   to   attract   additional   financial   advisors   (or   failure of   such   advisors   to   cause   their   clients   to   switch   to   Pinnacle   Bank),   to   retain   financial   advisors   or   otherwise   to   attract   customers   from   other   financial   institutions;   (xv)   further   deterioration   in   the   valuation   of   other   real   estate   owned   and   increased   expenses   associated   therewith;   (xvi)   inability   to   comply   with   regulatory   capital   requirements,   including   those   resulting   from   changes   to   capital   calculation   methodologies   and   required   capital   maintenance   levels;   (xvii)   risks   associated   with   litigation,   including   the   applicability   of   insurance   coverage;   (xviii)   the   risk   of   successful   integration   of   the   businesses   Pinnacle   Financial   has   recently   acquired   with   its   business;   (xix)   approval   of   the   declaration   of   any   dividend   by   Pinnacle   Financial's board   of   directors;   (xx)   the   vulnerability   of   Pinnacle   Bank's   network   and   online   banking   portals   to   unauthorized   access,   computer   viruses,   phishing   schemes,   spam   attacks,   human   error,   natural   disasters,   power   loss   and   other   security   breaches;   (xxi)   the   possibility   of   increased   compliance   costs   as   a   result   of   increased   regulatory   oversight,   including   oversight   of   companies   in   which   Pinnacle   Financial   or   Pinnacle   Bank   have   significant   investments,   like   BHG,   and   the   development   of   additional   banking   products   for   Pinnacle   Bank's   corporate   and   consumer   clients; (xxii)   the   risks   associated   with   Pinnacle   Financial   and   Pinnacle   Bank   being   a   minority   investor   in   BHG,   including   the   risk   that   the   owners   of   a   majority   of   the   equity   interests   in   BHG   decide   to   sell   the   company   if   not   prohibited   from   doing   so   by   the   terms   of   our   agreement   with   them;   (xxii)   changes   in   state   and   federal   legislation,   regulations   or   policies   applicable   to   banks   and   other   financial   service   providers,   like   BHG,   including   regulatory   or   legislative   developments;   (xxiv)   the   risk   that   the   cost   savings   and   any   revenue   synergies   from   Pinnacle   Financial's merger   with   BNC   may   not   be   realized   or   take   longer   than   anticipated   to   be   realized;   (xxv)   disruption   from   Pinnacle   Financial's merger   with   BNC   with   customers,   suppliers,   employee   or   other   business   partners   relationships;   (xxvi)   the   risk   of   successful   integration   of   Pinnacle   Financial's and   BNC's   businesses;   (xxvii)   the   amount   of   the   costs,   fees,   expenses   and   charges   related   to   Pinnacle   Financial's merger   with   BNC;   (xxviii)   reputational   risk   and   the   reaction   of   the   parties'   customers,   suppliers,   employees   or   other   business   partners   to   Pinnacle   Financial's merger   with   BNC;   (xxix)   the   risk   that   the   integration   of   Pinnacle   Financial's and   BNC's   operations   will   be   materially   delayed   or   will   be   more   costly   or   difficult   than   expected;   and   (xxx)   general   competitive,   economic,   political   and   market   conditions.   Additional   factors   which   could   affect   the   forward   looking   statements   can   be   found   in   Pinnacle   Financial's Annual   Report   on   Form   10 ‐ K,   Quarterly   Reports   on   Form   10 ‐ Q,   and   Current   Reports   on   Form   8 ‐ K   filed   with   the   SEC   and   available   on   the   SEC's   website   at   http://www.sec.gov.   Pinnacle   Financial   disclaims   any   obligation   to   update   or   revise   any   forward ‐ looking   statements   contained   in   this   press   release,   which   speak   only   as   of   the   date   hereof,   whether   as   a   result   of   new   information,   future   events   or   otherwise. Safe   Harbor   Statements Non ‐ GAAP   Financial   Matters This   presentation   contains   certain   non ‐ GAAP   financial   measures,   including,   without   limitation,   earnings   per   diluted   share,   efficiency   ratio,   core   net   interest   margin,   noninterest   expense   and   the   ratio   of   noninterest   expense   to   average   assets   and   noninterest   expense   to   the   sum   of   net   interest   income   and   noninterest income,   in   each   case   excluding   the   impact   of   expenses   related   to   other   real   estate   owned,   gains   or   losses   on   sale   of   investments   and   other   matters   for   the   accounting   periods   presented.   This   release   also   includes   non ‐ GAAP   financial   measures   which   exclude   expenses   associated   with   Pinnacle   Bank's   mergers   with   CapitalMark Bank   &   Trust,   Magna   Bank,   Avenue   Financial   Holdings,   Inc.   and   BNC,   as   well   as   Pinnacle   Financial's and   its   bank   subsidiary's   investments   in   BHG.   This   release   may   also   contain   certain   other   non ‐ GAAP   capital   ratios   and   performance   measures.   These   non ‐ GAAP   financial   measures   exclude   the   impact   of   goodwill   and   core   deposit   intangibles   associated   with   Pinnacle   Financial's acquisitions   of   BNC,   Avenue,   Magna   Bank,   CapitalMark Bank   &   Trust   ,   Mid ‐ America   Bancshares,   Inc.   ,   Cavalry   Bancorp,   Inc.   and   other   acquisitions   which   collectively   are   less   material   to   the   non ‐ GAAP   measure.   The   presentation   of   the   non ‐ GAAP   financial   information   is   not   intended   to   be   considered   in   isolation   or   as   a   substitute   for   any   measure   prepared   in   accordance   with   GAAP.   Because   non ‐ GAAP   financial   measures   presented   in   this   release   are   not   measurements   determined   in   accordance   with   GAAP   and   are   susceptible   to   varying   calculations,   these   non ‐ GAAP   financial   measures,   as   presented,   may   not   be   comparable   to   other   similarly   titled   measures   presented   by   other   companies.Pinnacle Financial   believes   that   these   non ‐ GAAP   financial   measures   facilitate   making   period ‐ to ‐ period   comparisons   and   are   meaningful   indications   of   its   operating   performance.   In   addition,   because   intangible   assets   such   as   goodwill and   the   core   deposit   intangible,   and   the   other   items   excluded   each   vary   extensively   from   company   to   company,   Pinnacle   Financial   believes   that   the   presentation   of   this   information allows   investors   to   more   easily   compare   Pinnacle   Financial's results   to   the   results   of   other   companies.   Pinnacle   Financial's management   utilizes   this   non ‐ GAAP   financial   information   to   compare   Pinnacle   Financial's operating   performance   for   2017   versus   certain   periods   in   2016   and   to   internally   prepared   projections. Safe   Harbor   Statements 0.21% 0.15% 0.28% 0.35% 0.14% NCOs $3,969   $4,421   $6,336   $8,241   $15,260   Total   Loans (millions) ‐‐‐ :   Reflects   historical   operating   ranges   for   NPA/   Loans   &   OREO   and   Classified   Asset   Ratio.   Reflects   target   ranges   resulting   from   the   annual   corporate   strategic   planning   process   for   NCOs.   $4,334   $4,662   $6,601   $8,670   $15,790   Total   Deposits (millions) $20.27   $21.93   $27.80   $31.97   $47.31   Book   Value   per   Share $57,401   $62,396   $83,469   $118,327   $216,159   Total   Revenues $0.42   $0.52   $0.62   $0.71   $0.83   FD   EPS 12.73% 13.69% 14.49% 14.47% 14.25% ROTCE 3Q17   Summary   Results   – GAAP   Measures Balance Sheet GrowthEarnings GrowthAsset Quality Execution   of   fundamentals   fueled   exceptional   growth   in   key   valuation   drivers 20.6% 20.0% 17.1% 14.8% 12.7% Classified   Asset   Ratio 0.89% 0.78% 0.57% 0.41% 0.51% NPA/   Loans   &   OREO $13.22   $14.98   $17.09   $19.69   $23.32   Tangible   Book   Value   per   Share $4,334   $4,662   $6,601   $8,670   $15,790   Total   Deposits (millions) $3,969   $4,421   $6,336   $8,241   $15,260   Total   Loans (millions) 12.71% 13.69% 15.31% 16.01% 15.43% ROTCE* $0.42   $0.52   $0.66   $0.78   $0.90   FD   EPS* $57,401   $62,396   $83,469   $118,327   $216,159   Total   Revenues 0.21% 0.15% 0.28% 0.35% 0.14% NCOs ‐‐‐ :   Reflects   historical   operating   ranges   for   NPA/   Loans   &   OREO   and   Classified   Asset   Ratio.   Reflects   target   ranges   resulting   from   the   annual   corporate   strategic   planning   process   for   NCOs. *:   excluding   merger ‐ related   charges   3Q17   Summary   Results   –Non ‐ GAAP   Measures Balance Sheet Growth Earnings Growth Asset Quality Execution   of   fundamentals   fueled   exceptional   growth   in   key   valuation   drivers 0.89% 0.78% 0.57% 0.41% 0.51% NPA/   Loans   &   OREO 20.6% 20.0% 17.1% 14.8% 12.7% Classified   Asset   Ratio 6 ‐‐‐ :   Reflects   targets   resulting   from   the   annual   corporate   strategic   planning   process   for   the   then   current   period.   Pinnacle   sets   and   delivers   against   lofty   strategic   targets 3Q17   Summary   Results   – GAAP   Measures 0.00%0.20%0.40%0.60%0.80%1.00%1.20%1.40%1.60% ROAA 0.00%0.05%0.10%0.15%0.20%0.25%0.30%0.35%0.40%0.45%0.50% Net   Chargeoff   Ratio 0.70%0.80%0.90%1.00%1.10%1.20%1.30%1.40% Noninterest   Income   /   Average   Assets   1.50%1.75%2.00%2.25%2.50%2.75%3.00% Noninterest   Expense   /   Average   Assets 3.40%3.50%3.60%3.70%3.80%3.90%4.00% Net   Interest   Margin 7 Pinnacle   sets   and   delivers   against   lofty   strategic   targets 3Q17   Summary   Results   –Non ‐ GAAP   Measures 3.78% 3.72% 3.79% 3.66% 3.60% 3.87% 3.40%3.50%3.60%3.70%3.80%3.90%4.00% Net   Interest   Margin 0.85% 0.85% 0.89% 1.13% 1.16% 0.80% 0.70%0.80%0.90%1.00%1.10%1.20%1.30%1.40% Noninterest   Income   /   Average   Assets   (1) 0.22% 0.39% 0.14% 0.28% 0.35% 0.14% 0.00%0.05%0.10%0.15%0.20%0.25%0.30%0.35%0.40%0.45%0.50% Net   Chargeoff   Ratio (1)  ‐ Calculation   excludes   net   gains   and   losses   on   the   sale   of   investment   securities   and    in   the   second   quarter   of   2013   noncredit   related   loan   losses (2)  ‐ Calculation   excludes   OREO   expense,   FHLB   prepayment   charges   and   merger ‐ related   charges.   Noninterest   expense   for   2Q13   includes   the   impact   of   the   reversal   of    a   $2.0   million   allowance   for   off ‐ balance   sheet   commitments   ‐‐‐ :   Reflects   targets   resulting   from   the   annual   corporate   strategic   planning   process   for   the   then   current   period.   0.93% 1.09% 1.25% 1.35% 1.31% 1.31% 0.00%0.20%0.40%0.60%0.80%1.00%1.20%1.40%1.60% ROAA 2.55% 2.44% 2.34% 2.30% 2.11% 1.88% 1.50%1.70%1.90%2.10%2.30%2.50%2.70% Noninterest   Expense   /   Average   Assets (2) PNFP   continued   the   infrastructure   build   in   3Q17   to   support   future   rapid   growth 1. Pinnacle   /   BNC   merger   update • Jan.   22   – Announcement   of   transaction • Apr.   6   –Regulatory   approvals   obtained • June   12   – Shareholder   meetings   anticipated • June   16   –Merger   close • August   21   –PNFP   begins   nightly   core   processing   for   BNC • September   –BNC   brand   conversion   to   Pinnacle • November   –Legacy   Pinnacle   systems   conversion • Early   first   quarter   2018   –Synergy   case   fully   deployed 2. Aggressive   hiring   plan– Added   54   revenue   producers   to   our   roster,   of   which   19   were   in   the   BNC   markets.   3. Net   loan   growth   strong   (*)   – • 3Q17   net   loan   growth   of   $440mm   for   PNFP   and   $61mm for   BNC   • YTD   net   loan   growth   of   $1.11   billion   for   PNFP   and   $96mm for   BNC (#) *:   excludes   fair   value   adjustments # :   BNC   YTD   loan   growth   is   for   the   period   beginning   June   16,   2017 3Q17   Summary   Results 9 Loan   and   Deposit   Growth   are   Keys   to   Earnings   Growth Strong   performance   continues   in   both   total   revenues   and   revenues   per   share   $1.31   $2.80     $1.00   $1.50   $2.00   $2.50   $3.00   $3.50   $ ‐   $50   $100   $150   $200   $250 Revenues per diluted share Total Revenues  (000's) Fee   income NII Total   revenue   per   share 10 Linked ‐ quarter   loan   growth   remains   strong   as   yields   increase $3,191 $3,212 $3,207 $3,262 $3,280 $3,403 $3,489 $3,580 $3,682 $3,845 $3,932 $3,981 $4,130 $4,251 $4,358 $4,436 $4,625 $4,737 $5,690 $6,458 $6,742 $6,998 $8,233 $8,357 $8,558 $9,817 $15,017 4.88% 4.91% 1.00%2.00%3.00%4.00%5.00%   $ ‐   $4,000   $8,000   $12,000   $16,000 Loan Yields Average Loans  (millions) Avg.   Loans Loan   Yields Loan   and   Deposit   Growth   are   Keys   to   Earnings   Growth   11 Average   deposit   balances   grew   $5.4   billion   in   3Q17 $3,772  $3,723  $3,700  $3,642  $3,597  $3,636  $3,706  $3,883  $3,950  $3,963  $4,199  $4,408  $4,510  $4,519  $4,655  $4,758  $4,792  $4,885  $5,898  $6,787  $7,037  $7,093  $8,454  $8,791  $9,099  $10,394  $15,828  1.25% 1.01% 0.48% 0.00%0.20%0.40%0.60%0.80%1.00%1.20%1.40%1.60%   $ ‐   $2,000   $4,000   $6,000   $8,000   $10,000   $12,000   $14,000   $16,000 Avg. Deposits (millions) Avg.   Deposits Fed   Funds   Target Cost   of   Deposits Loan   and   Deposit   Growth   are   Keys   to   Earnings   Growth 12 Fee   businesses   produce   another   strong   quarter   –Up   57%   year ‐ over ‐ year 3Q17 2Q17 1Q17 4Q16 3Q16 Service   charges $5,921 $4,179 $3,856 $3,850 $3,778 Investment   services 3,660 3,110 2,822 3,320 2,592 Insurance   commissions 2,124 1,461 1,859 1,178 1,233 Gain   on   mortgage   loans   sold,   net 5,963 4,668 4,155 2,869 5,097 Trust   fees 2,636 1,677 1,705 1,734 1,523 Income   from   equity   method   investment 8,937 8,755 7,823 8,136 8,475 Other: Securities   gains   (losses)  ‐‐‐ 395 ‐ Interchange   and   other   consumer   fees 7,393 7,558 6,151 6,171 6,464 Bank ‐ owned   life   insurance 2,623 1,395 1,099 952 955 Loan   swap   fees 1,011 336 261 495 859 Other 2,709 1,918 651 1,643 716 Total   noninterest   income $42,977 $35,057 $30,382 $30,743 $31,692 Total   Assets   (Quarterly   Average) $21,211,459 $13,335,359 $11,421, 654 $11,037,557 $10,883,546 Noninterest   income/Average   Assets 0.80% 1.05% 1.08% 1.11% 1.16% Fee   Businesses   also   Contribute   to   Earnings   Growth 13 3Q17   expense   results   reflect   enviable   operating   leverage 3Q17 2Q17 1Q17 4Q16 3Q16 Salaries   and   benefits $64,288 $43,676 $38,352 $37,994 $36,053 Equipment   and   occupancy 16,590 10,713 9,675 9,228 9,401 Other   real   estate   owned 512 63 252 44 17 Marketing   and   business   development 2,222 2,127 1,879 2,386 1,350 Postage   and   supplies 1,755 1,122 1,196 1,000 922 Intangible   amortization 3,077 1,472 1,196 1,137 1,425 Merger   related   expense 8,847 3,221 672 3,264 5,672 Other   expenses 12,444 9,404 8,831 7,712 8,686 Total   noninterest   expense $109,735 $71,798 $62,053 $62,765 $63,526 Efficiency   ratio 50.8% 50.7% 52.1% 52.2% 53.7% Expense/Total   Average   Assets 2.05% 2.16% 2.20% 2.26% 2.32% Core   noninterest   expense   ** $100,376 $68,514 $61,130 $59,457 $57,837 Core   efficiency   ratio 46.4% 48.4% 51.3% 49.6% 48.9% Core   Noninterest   Expense ** /Total   Average   Assets 1.88% 2.06% 2.17% 2.14% 2.11% **   Excludes   the   impact   of   OREO   expense   and   merger   related   expenses PNFP   Focuses   on   Strategic   Expense   Management 14 Recent   market   extensions   provide   roadmap   for   Carolina   &   Virginia Market At   9/30/17 At   12/31/16 At   12/31/15 YTD Annualized Growth Loans   (000’s) Memphis 987 736   458   45.5% Chattanooga 1,033 800 708 38.7% Core   Deposits   (000’s)   Memphis 823 696 385 24.0% Chattanooga 743 646 505 20.2% Revenue   Producers Memphis 68 47 40 59.6% Chattanooga 40 34 23 23.5% Extraordinary   Growth   Potential   on   the   Path   Forward 15 The   BNC   integration   overall   is   on ‐ track   and   highly   accretive Extraordinary   Growth   Potential   on   the   Path   Forward • Cultural   integration   is   well   underway • The   system   integration   schedule   has   been   expedited • ~   $40   million   in   cost   take ‐ outs   in   2018   are   still   on   track • Potential   revenue   synergies   are   meaningful • Hiring   thrust   is   strong   and   building Extraordinary   Growth   Potential   on   the   Path   Forward 16 High   growth   urban   markets   across   the   Southeast   provide   further   opportunity   De   novo   Sizing • Nashville,   Knoxville   experience – Approximately   $2.0   million   in   cumulative   losses   prior   to   break ‐ even   – Approximately   12 ‐ 18   months   to   break ‐ even • Key   management   with   capacity   to   build   $2.0   billion   bank   –no   LPO • 15 ‐ 20   associates   in   initial   hiring   phase M&A   Criteria • At   least   $1   billion   in   assets • Commercial   thrust • Management   continuation • Sustainable   core   profitability • Capacity   to   achieve   mass   in   market • 3 ‐ 5%   EPS   accretion   in   first   full   year 17 Opportunities   likely   exist   for   de   novo   or   merger   related   expansion Extraordinary   Growth   Potential   on   the   Path   Forward 18 PNFP   is   focused   on   rapid   growth   across   the   Southeast 1. Continuation   of   current   high   growth,   high   profit   plan 2. Explore   expansion   to   other   high   growth   southeastern   markets Long ‐ Term   Shareholder   Value Q&A   – Third Quarter 2017 Investor Call Supplemental   Information 20 Chart • Balance   Sheet 21   • Asset   Quality 29 • Income   Statement 31             Balance   Sheet Supplemental   Information 21 Loan   portfolio   is   well   diversified 22 Amts. 3Q17 %’s(*) 3Q17 Amts. 2Q17 %’s(*) 2Q17 Amts. 3Q16 %’s(*) 3Q16 Amts. 3Q15 %’s(*) 3Q15 C&D and Land $1,939.8 12.7% $1,772.8 12.0% $930.2 11.3% $674.9 10.7% Consumer RE 2,541.1 16.7% 2,552.9 17.3% 1,186.0 14.4% 1,044.3 16.5% CRE – Owner Occ. 2,433.8 15.9% 2,368.7 16.0% 1,256.2 15.2% 1,124.9 17.8% CRE – Investment 3,398.4 22.3% 3,357.1 22.8% 1,436.4 17.4% 842.1 13.3% Other RE loans (Multi-Family) 617.9 4.0% 661.6 4.5% 299.4 3.7% 225.2 3.4% Total real estate 10,931.0 71.6% 10,713.1 72.6% 5,108.2 62.0% 3,911.4 61.7% C&I 3,971.3 26.0% 3,688.4 25.0% 2,873.6 34.9% 2,178.5 34.4% Other loans 357.5 2.4% 357.3 2.4% 259.2 3.1% 246.0 3.9% Total loans $15,259.8 100.0% $14,758.8 100.0% $8,241.0 100.0% $6,335.9 100.0% (*)   as   a   percentage   of   total   loans Balance   Sheet (*)   as   a   percentage   of   total   loans 23 Construction   portfolio   reflects   discipline Amounts 3Q17 %’s(*) 3Q17 Amounts 2Q17 %’s(*) 2Q17 Amts. 3Q16 %’s(*) 3Q16 Amts. 3Q15 %’s(*) 3Q15 Residential   –Spec $253.3 1.7% $243.0 1.6% $182.2 2.2% $102.1 1.6% Residential    –Custom 157.4 1.0% 153.3 1.0% 99.4 1.2% 44.5 0.7% Residential    – Condo 13.3 0.1% 11.8 0.1% 2.8 0.0% 3.5 0.0% Commercial   Construct. 1,030.8 6.8% 894.9 6.1% 373.8 4.5% 352.1 5.6% Land   Dev– Residential 191.4 1.3% 182.7 1.2% 103.3 1.3% 72.6 1.2% Land   Dev   – Commercial 190.2 1.2% 186.6 1.3% 164.8 2.0% 99.1 1.6% Land   Dev  ‐ BNC   Resi/Com.   Combined 56.4 0.4% 54.9 0.4% ‐‐ ‐‐ Land   –Unimproved 47.0 0.3% 45.6 0.3% 3.9 0.1% 1.0 0.0% Total   C&D $1,939.8 12.8% $1,772.8 12.0% $930.2 11.3% $674.9 10.7% Balance   Sheet Balance   Sheet The   C&I   loan   portfolio   is   highly   diversified 24 NAICS   Description 3Q17 2Q17 1Q17 4Q16 Accommodation   and   Food   Services 4.44% 4.34% 4.23% 4.57% Administrative   and   Support   and   Waste   Management   and   Remediation   Services 1.68% 1.89% 1.86% 2.00% Agriculture,   Forestry,   Fishing   and   Hunting 0.19% 0.20% 0.22% 0.21% Arts,   Entertainment,   and   Recreation 3.04% 3.06% 3.24% 3.01% Construction 5.63% 5.33% 5.17% 5.40% Consumer 6.62% 7.21% 6.76% 7.73% Educational   Services 1.87% 1.80% 1.61% 1.66% Finance   and   Insurance 7.76% 7.46% 6.98% 6.95% Health   Care   and   Social   Assistance 11.65% 11.68% 11.35% 11.48% Information 3.06% 2.59% 2.62% 2.20% Management   of   Companies   and   Enterprises 0.77% 0.86% 0.87% 0.96% Manufacturing 7.58% 7.35% 7.56% 7.48% Mining,   Quarrying,   and   Oil   and   Gas   Extraction 0.32% 0.28% 0.27% 0.28% Other   Services   (except   Public   Administration) 5.71% 5.90% 6.12% 6.13% Professional,   Scientific,   and   Technical   Services 4.15% 4.20% 4.35% 4.35% Public   Administration 1.49% 1.58% 1.69% 1.71% Real   Estate   and   Rental   and   Leasing 15.78% 15.97% 16.55% 16.06% Retail   Trade 7.74% 7.35% 7.73% 7.19% Transportation   and   Warehousing 4.15% 4.35% 4.30% 4.26% Utilities 0.47% 0.06% 0.03% 0.04% Wholesale   Trade 5.92% 6.53% 6.49% 6.32% Total   C&I   and   CRE   Owner ‐ occupied   Portfolio   100.00% 100.00% 100.00% 100.00% 3Q17 2Q17 1Q17 4Q16 CRE   Owner ‐ occupied $2,433,762 $2,368,641 $1,399,512 $1,354,893 C&I 3,971,227 3,688,357 2,980,840 2,891,710 Total   C&I   and   CRE   Owner ‐ occupied   Portfolio   $6,404,989 $6,056,998 $4,380,352 $4,246,603 Balance   Sheet The   CRE   loan   portfolio 25 9/30/2017 6/30/2017 3/31/2017 12/31/2016 Description %   of   RBC %   of   RBC %   of   RBC %   of   RBC Total   Land   18.3% 18.3% 17.0% 17.9% Total   1 ‐ 4   Family   Construction 19.1% 19.0% 25.3% 24.4% Total   Apartment   Construction 11.2% 8.3% 13.4% 11.6% Total   Commercial   Construction 39.6% 39.6% 30.7% 26.4% 100%   Test  ‐ Construction   &   Land   Development 88.1% 85.1% 86.4% 80.3% Multi ‐ family 30.0% 32.3% 35.0% 36.7% Miscellaneous CRE 15.9% 13.0% 11.7% 10.6% Retail   Existing 65.4% 66.4% 43.4% 45.6% Office 36.1% 36.1% 26.9% 27.4% Industrial   &   Warehouse   13.5% 14.7% 18.0% 23.3% Hotel/Motel   23.2% 21.7% 10.7% 11.9% Healthcare   8.3% 8.7% 7.3% 8.3% Financed   RE   Not   Secured   by   RE 8.7% 9.0% 14.5% 12.0% Total   NOOCRE   171.1% 169.6% 132.5% 139.0% NOOCRE   +   Secured   by   multi ‐ family   201.0% 201.9% 167.4% 175.7% 300%   Test  ‐ NOOCRE   +   Multifamily   +   Construction 289.1% 287.0% 253.8% 256.0% Balance   Sheet 26 PNFP   remains   focused   on   relationship   funding 9/30/2017 Percent 6/30/2017 Percent 12/31/2016 Percent Core   Funding: Non ‐ interest   bearing   deposits $4,099,086 22.76% $3,893,603 22.70% $2,399,191 24.99% Interest ‐ bearing   deposits 2,473,902 13.74% 2,480,791 14.46% 1,737,996 18.10% Money   Market   accounts 5,809,254 32.26% 5,604,737 32.67% 3,185,186 33.17% Time   deposits   less   than   $250,000 1,226,952 6.81% 1,263,030 7.36% 512,599 5.34% Total   Core   Funding $13,609,194 75.57% 13,242,161 77.20% $7,834,973 81.60% Relationship   based   non ‐ core   funding: Reciprocal   NOW   deposits 61,386 0.34% 50,451 0.29% 30,328 0.32% Reciprocal   MMDA   deposits 456,622 2.53% 767,994 4.48% 519,769 5.41% Time   deposits Reciprocal   time   deposits 109,004 0.61% 113,161 0.66% 58,838 0.61% Other   time   deposits 394,593 2.19% 382,698 2.23% 198,689 2.07% Securities   sold   under   agreements   to   repurchase 129,557 0.72% 205,008 1.20% 85,707 0.89% Total   relationship   based   non ‐ core   funding 1,151,162 6.39% 1,519,312 8.86% 893,331 9.30% Wholesale   funding: Brokered   deposits 294,106 1.63% 518,579 3.02% 49,983 0.52% Brokered   time   deposits 864,680 4.80% 682,431 3.98% 66,727 0.69% FHLB   advances 1,623,947 9.02% 725,230 4.23% 406,304 4.23% Sub   Debt   and   other   funding 465,460 2.59% 465,419 2.71% 350,768 3.65% Total   wholesale   funding 3,248,193 18.04% 2,391,659 13.94% 823,799 8.58% Total   non ‐ core   funding 4,399,355 24.43% 3,910,971 22.80% 1,767,113 18.40% Totals $18,008,549 100.00% $17,153,132 100.00% $9,602,086 100.00% 27 Balance   Sheet The   securities   book   yields   increase   in   3Q17 3.58% 2.64% 20.75% 12.92% 0.00%5.00%10.00%15.00%20.00%25.00%30.00%35.00%40.00% 0.00%0.50%1.00%1.50%2.00%2.50%3.00%3.50%4.00% Bond   Yields %   of   Avg.   Assets Conservative   bond   portfolio Balance   Sheet 28 Portfolio:    September   30,   2017 Total   Investments   $2.901   billion Unrealized   Gain   (Loss) $   (11.3)   million QTD   Purchases $   546.0   million QTD   Sales $       0 Duration         Avg   Yield   –TE 3Q17 3.5% 2.6% 2Q17                       3.3%                        2.5% 1Q17                       3.4%                        2.4% 4Q16 3.2% 2.3% 3Q16 2.8% 2.3% 2Q16 2.4% 2.5% 1Q16 2.7% 2.6% 1.1% 4.0% 48.7% 6.8% 12.9% 26.6% Agency Corporates MBS Asset   Backed CMOs Municipals As   of 9/30/2017 Book   Yield Effective   Duration Agency/Treasury 1.21% 0.78% Asset   Backed 2.32% 0.16% Corporates 4.57% 3.30% CMOs 2.05% 3.61% MBS 2.30% 3.23% Municipals 4.04% 5.19% Total 2.64% 3.50% ● Investment   portfolio   at   $2.901   billion,   up   $453    million   vs   Q2   due   primarily   to   completion   of   BNC   portfolio   restructure   and   on ‐ balance   sheet   liquidity   build ● Duration   steady   in   mid   3%   range ● Investments to   Total   Assets   of   13.3% Asset   Quality Supplemental   Information 29 30 Asset   quality   remains   very   sound (*)   >30   days   past   due (**)   includes   purchase   credit   impaired   loans   (000’s) Sept.   30,   2017 As   a   %   of   total loans   June   30,   2017 As   a   %   of   total loans   Sept.   30,   2016 As   a   %   of   total loans   Past Due   Loans   (*) Nonaccrual loans** $20,210 0.13% $17,602 0.12% $8,822 0.11% Accruing   loans 39,081 0.26% 28,893 0.20% 19,929 0.24% Total   past due $59,291 0.39% $46,495 0.32% $28,751 0.35% NPLs   and   >   90   days   Const.   and   land   development $6,632 0.04% $3,873 0.03% $6,355 0.08% Consumer   RE 22,060 0.15% 18,564 0.13% 8,429 0.10% CRE   –Owner   Occupied 12,426 0.08% 5,545 0.04% 4,374 0.05% CRE   – Investment 4,565 0.03% 4,571 0.03% 673 0.01% Total   real   estate 45,683 0.30% 32,553 0.23% 19,831 0.24% C&I 9,861 0.06% 8,280 0.06% 8,791 0.11% Other 1,133 0.01% 1,076 0.01% 1,958 0.02% Total   loans $56,677 0.37% $41,909 0.30% $30,580 0.37% Classified   loans   and   ORE Substandard   commercial   loans $202,998 1.33% $230,216 1.56% $123,952 1.50% Doubtful   commercial   loans 829 0.01% 832 0.01% 87 0.00% Other   impaired   loans 22,858 0.15% 19,854 0.13% 9,933 0.12% 90   days   past   due   and   accruing   (*) 3,264 0.02% 1,691 0.01% 2,093 0.03% Other   real   estate 24,339 0.16% 24,806 0.17% 5,589 0.07% Other   repossessed   assets 343 0.00% 348 0.00% 67 0.00% Total $254,631 1.67% $277,747 1.88% $141,721 1.72% Pinnacle   Bank   classified   asset   ratio 12.7% 14.2% 15.2% Asset   Quality Income   Statement Supplemental   Information 31 Income   Statement Mortgage   volumes   were   strong   in   3Q17 32 0.00%1.00%2.00%3.00%4.00%5.00%6.00% 0 50,000 100,000150,000200,000250,000300,000   Purchase   Money Refinance Gross   fees   as   a   %   of   loans   originated Income   Statement 33 3Q17 2Q17 1Q17 4Q16 3Q16 Net   interest   income $173,182 $106,627 $88,767 $89,413 $86,635 Total   noninterest   income $42,977 $35,057 $30,382 $30,743 $31,692 Less:    Securities   gains   ‐‐‐ (395) ‐ Noninterest   income,   excluding   investment   gains   on   sales   of   securities,   net $42,977 $35,057 $30,382 $30,347 $31,692 Total   noninterest   expense $109,736 $71,798 $62,054 $62,765 $63,526 Less:   ORE   expenses 512 63 252 44 17 Merger ‐ related   charges 8,847 3,221 672 3,264 5,672 Noninterest   expense,   excluding   the   impact   of   ORE   expense   and   merger ‐ related   charges $100,377 $68,514 $61,130 $59,457 $57,837 Adjusted   pre ‐ tax   pre ‐ provision   income $115,782 $73,170 $58,019 $60,304 $60,490 Efficiency   ratio 50.8% 50.7% 52.1% 52.2% 53.7% Adjustment   due   to   securities   gains,   ORE   expense   and   merger ‐ related   charges   (4.4%) (2.3%) (0.8%) (2.6%) (4.8%) Core   Efficiency   ratio** 46.4% 48.4% 51.3% 49.6% 48.9% Noninterest   income/   Average   assets 0.80% 1.05% 1.08% 1.11% 1.16% Adjustment   due   to   gains   on   sale   of   investment   securities   ‐‐‐‐‐ Noninterest   income,   excluding   the   impact   of   net   gains   on   sale   of   investment   securities/ Average   Assets 0.80% 1.05% 1.08% 1.11% 1.16% Noninterest   expense/   Average   assets 2.05% 2.16% 2.20% 2.26% 2.32% Adjustment   due   to   ORE   expense   and   merger ‐ related   charges (0.17%) (0.10%) (0.03%) (0.12%) (0.21%) Noninterest   expense,   excluding   ORE   expense   and   merger ‐ related   charges/   Average   Assets 1.88% 2.06% 2.17% 2.14% 2.11% Reconciliation   of   Non ‐ GAAP   measures **:   Excluding   ORE   expense,   merger ‐ related   charges   and   securities   gains   and   losses Income   Statement 34 3Q17 2Q17 1Q17 4Q16 3Q16 Net   income $64,442 $43,086 $39,653 $36,097 $32,376 Merger ‐ related   charges 8,847 3,221 672 3,264 5,672 Tax   effect   on   merger ‐ related   charges (3,471) (1,264) (264) (1,281) (2,225) Net   income   less   merger ‐ related   charges $69,818 $45,043 $40,061 $38,080 $35,823 Basic   earnings   per   share   $0.84 $0.81 $0.83 $0.79 $0.71 Adjustment   to   basic   earnings   per   share   due   to   merger ‐ related   charges 0.07 0.04 0.01 0.05 0.08 Basic   earnings   per   share   excluding   merger ‐ related   charges   $0.91 $0.85 $0.84 $0.84 $0.79 Diluted   earnings   per   share $0.83 $0.80 $0.82 $0.78 $0.71 Adjustment   to   diluted   earnings   per   share   due   to   merger ‐ related   charges 0.07 0.04 0.01 0.05 0.07 Diluted   earnings   per   share   excluding   merger ‐ related   charges $0.90 $0.84 $0.83 $0.83 $0.78 Book   value   per   share $47.31 $46.56 $34.61 $32.28 $31.97 Adjustment   due   to   goodwill,   core   deposit   and   other   intangible   assets (23.99) (23.98) (11.36) (12.22) (12.28) Tangible   book   value   per   share $23.32 $22.58 $23.25 $20.06 $19.69 Reconciliation   of   Non ‐ GAAP   measures Income   Statement 35 Reconciliation   of   Non ‐ GAAP   measures 3Q17 2Q17 1Q17 4Q16 3Q16 Net   income $64,442 $43,086 $39,653 $36,097 $32,376 Merger ‐ related   charges 8,847 3,221 672 3,264 5,672 Tax   effect   on   merger ‐ related   charges (3,471) (1,264) (264) (1,281) (2,225) Net   income   less   merger ‐ related   charges $69,818 $45,043 $40,061 $38,080 $35,823 Average   stockholders’   equity $3,655,029 $2,057,505 $1,723,075 $1,493,684 $1,442,440 Less:     Average   goodwill (1,800,761) (760,646) (551,548) (551,042) (541,153) Average   core   deposit   and   other   intangible   assets (59,521) (23,957) (14,674) (15,724) (11,296) Net   average   tangible   common   equity $1,794,747 $1,272,902 $1,090,850 $926,918 $889,991 Return   on   average   common   equity 6.99% 8.40% 9.70% 9.61% 8.93% Adjustment   due   to   goodwill,   core   deposit   and   other   intangible   assets 7.26% 5.18% 5.04% 5.88% 5.54% Return   on   average   tangible   common   equity 14.25% 13.58% 14.74% 15.49% 14.47% Adjustment   due   to   merger   related   charges 1.18% 0.61% 0.15% 0.85% 1.54% Return   on   average   tangible   common   equity   (excluding   merger ‐ related   charges)   15.43% 14.19% 14.89% 16.34% 16.01% Total   average   assets $21,211,459 $13,335,359 $11,421,654 $11,037,555 $10,883,546 Income   Statement 36 Reconciliation   of   Non ‐ GAAP   measures 3Q17 2Q17 1Q17 4Q16 3Q16 Net   income $64,442 $43,086 $39,653 $36,097 $32,376 Merger ‐ related   charges 8,847 3,221 672 3,264 5,672 Tax   effect   on   merger ‐ related   charges (3,471) (1,264) (264) (1,281) (2,225) Net   income   less   merger ‐ related   charges $69,818 $45,043 $40,061 $38,080 $35,823 Average   assets $21,211,459 $13,335,359 11,421,654 11,037,555 10,883,547 Less:     Average   goodwill (1,800,761) (760,646) (551,548) (551,042) (541,153) Average   core   deposit   and   other   intangible   assets (59,781) (23,957) (14,674) (15,724) (11,296) Net   average   tangible   assets $19,351,177 $12,550,756 10,855,432 10,470,789 10,331,098 Return   on   average   assets 1.21% 1.30% 1.41% 1.30% 1.18% Adjustment   due   to   goodwill,   core   deposit   and   other   intangible   assets 0.11% 0.08% 0.06% 0.08% 0.08% Return   on   average   tangible   assets 1.32% 1.38% 1.47% 1.38% 1.26% Adjustment   due   to   merger   related   charges 0.11% 0.06% 0.01% 0.08% 0.13% Return   on   average   tangible   assets   (excluding   merger ‐ related   charges)   1.43% 1.44% 1.48% 1.46% 1.39% Third   Quarter   2017 Investor   Call M.   Terry   Turner,   President   and   CEO Harold   R.   Carpenter,   EVP   and   CFO October   18,   2017

Second Quarter 2018 Investor Call M. Terry Turner, President and CEO Harold R. Carpenter, EVP and CFO July 18, 2018 Forward Looking Statements All statements, other than statements of historical fact, included in this presentation, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The words "expect," "anticipate," "intend," "should," "plan," "believe," "seek," "estimate" and similar expressions are intended to identify such forward-looking statements, but other statements not based on historical information may also be considered forward-looking statements. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could cause the actual results to differ materially from the statements, including, but not limited to:(i) deterioration in the financial condition of borrowers resulting in significant increases in loan losses and provisions for those losses; (ii) the ability to grow and retain low-cost core deposits and retain large, uninsured deposits; (iii) the inability of Pinnacle Financial, or entities in which it has significant investments, like BHG, to maintain the historical growth rate of its, or such entities', loan portfolio; (iv)changes in loan underwriting, credit review or loss reserve policies associated with economic conditions, examination conclusions, or regulatory developments; (v) effectiveness of PinnacleFinancial'sasset management activities in improving, resolving or liquidating lower-quality assets; (vi) the impact of competition with other financial institutions, including pricing pressures (including those resulting from the Tax Cuts and Jobs Act) and the resulting impact on Pinnacle Financial’sresults, including as a result of compression to net interest margin; (vii) greater than anticipated adverse conditions in the national or local economies including in Pinnacle Financial'smarkets throughout Tennessee, North Carolina, South Carolina and Virginia,particularly in commercial and residential real estate markets; (viii) fluctuations or unanticipated changes in interest rates on loans or deposits or thataffect the yield curve; (ix) the results of regulatory examinations; (x) a merger or acquisition; (xi) risks of expansion into new geographic or product markets; (xii) any matter thatwould cause Pinnacle Financial to conclude that there was impairment of any asset, including intangible assets; (xiii) reduced ability to attract additional financial advisors (orfailure of such advisors to cause their clients to switch to Pinnacle Bank), to retain financial advisors (including as a result of the competitive environment resulting from the Tax Cuts and Jobs Act) or otherwise to attract customers from other financial institutions; (xiv) further deterioration in the valuation of other real estate owned and increased expenses associated therewith; (xv) inability to comply with regulatory capital requirements, including those resulting from changes to capital calculation methodologies, required capital maintenance levels or regulatory requests or directives, particularly if Pinnacle Financial'slevel of applicable commercial real estate loans continues to exceed percentage levels of total capital in guidelines recommended by its regulators; (xvi) risks associated with litigation, including the applicability of insurance coverage; (xvii) the risk of successful integration of the businesses Pinnacle Financial has recently acquired with its business; (xviii) approval of the declaration of any dividend by Pinnacle Financial'sboard of directors; (xix) the vulnerability of Pinnacle Bank's network and online banking portals, and the systems of parties with whom Pinnacle Financial contracts, to unauthorized access, computer viruses, phishing schemes, spam attacks, human error, natural disasters, power loss and other security breaches; (xx) the possibility of increased compliance costs as a result of increased regulatory oversight, including oversight of companies in which Pinnacle Financial or Pinnacle Bank have significant investments, like BHG, and the development of additional banking products for Pinnacle Bank's corporate and consumer clients;(xxi) the risks associated with Pinnacle Financial and Pinnacle Bank being a minority investor in BHG, including the risk that the owners of a majority of the equity interests in BHG decide to sell the company if not prohibited from doing so by Pinnacle Financial or Pinnacle Bank; (xxii) changes in state and federal legislation, regulations or policies applicable to banks and other financial service providers, like BHG, including regulatory or legislative developments; (xxiii) disruption from Pinnacle Financial'smerger with BNC with customers, suppliers, employee or other business partners relationships; (xxiv) the risk of successful integration of Pinnacle Financial'sand BNC's businesses; (xxv) the risk that the integration of Pinnacle Financial'sand BNC's operations will be more costly or difficult than expected; (xxvi) the availability and access to capital; (xxvii) adverse results (including costs, fines, reputational harm, inability to obtain necessary approvals and/or other negative effects) from current or future litigation, regulatory examinations or other legal and/or regulatory actions; and (xxviii) general competitive, economic, political and market conditions. Additional factors which could affect the forward looking statements can be found in Pinnacle Financial'sAnnual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K filed with the SEC and available onthe SEC's website at http://www.sec.gov. Pinnacle Financial disclaims any obligation to update or revise any forward-looking statements contained in this presentation, which speak only as of the date hereof, whether as a result of new information, future events or otherwise. Safe Harbor Statements Non-GAAP Financial Matters This presentation contains certain non-GAAP financial measures, including, without limitation, revenues per diluted share, earnings per diluted share, efficiency ratio, core noninterest income and the ratio of core noninterest income to total average assets, noninterest expense and the ratio of noninterest expense to average assets and noninterest expense to the sum of net interest income and noninterest income, in each case excluding the impact of expenses related to otherreal estate owned, gains or losses on sale of investments, the revaluation of Pinnacle Financial’sdeferred tax assets and other matters for the accounting periods presented. This presentation also includes non-GAAP financial measures which exclude expenses associated with Pinnacle Bank's mergers with CapitalMarkBank & Trust, Magna Bank, Avenue Financial Holdings, Inc. and BNC, as well as Pinnacle Financial'sand its bank subsidiary's investments in BHG. This presentation may also contain certain other non-GAAP capital ratios and performance measures. These non-GAAP financial measures exclude the impact of goodwill and core deposit intangibles associated with Pinnacle Financial'sacquisitions of BNC, Avenue, Magna Bank, CapitalMarkBank & Trust, Mid-America Bancshares, Inc., Cavalry Bancorp, Inc. and other acquisitions which collectively are less material to the non-GAAP measure. The presentation of the non-GAAP financial information is not intended to be considered in isolation or as a substitute for any measure prepared in accordance with GAAP. Because non-GAAP financial measures presented in this presentation are not measurements determined in accordance with GAAP and are susceptible to varying calculations, these non- GAAP financial measures, as presented, may not be comparable to other similarly titled measures presented by other companies.PinnacleFinancial believes that these non- GAAP financial measures facilitate making period-to-period comparisons and are meaningful indications of its operating performance. In addition, because intangible assets such as goodwill and the core deposit intangible, and the other items excluded each vary extensively from company to company, Pinnacle Financial believes that the presentation of this information allows investors to more easily compare Pinnacle Financial'sresults to the results of other companies. Pinnacle Financial'smanagement utilizes this non-GAAP financial information to compare Pinnacle Financial'soperating performance for 2018 versus certain periods in 2017 and to internally prepared projections. Safe Harbor Statements 2Q18 Summary Results of Key GAAPMeasures 4 Total Revenues FD EPS ROTCETotal Deposits (millions) Book Value per Share Total Loans (millions) NPA/ Loans & OREO Classified Asset Ratio NCOs 0.08% 0.16% 0.35% 0.17% 0.10% NCOs 18.1% 19.0% 19.3% 14.2% 12.6% Classified Asset Ratio 0.66% 0.53% 0.55% 0.44% 0.53% NPA/ Loans & OREO $59,820 $71,293 $107,756 $141,684 $230,175 Total Revenues $0.49 $0.64 $0.75 $0.84 $1.15 FD EPS* CAGR 22.0% $4,246 $4,609 $6,591 $14,461 $15,400 Total Core Deposits (millions) $4,316 $4,830 $7,091 $14,759 $17,042 Total Loans (millions) $14.53 $16.56 $19.58 $22.58 $25.28 Tangible Book Value per Share 13.50% 15.44% 15.64% 14.19% 18.45% ROTCE* ---: Reflects historical operating ranges for NPA/ Loans & OREO and Classified Asset Ratio. Reflects target ranges resulting from the annual corporate strategic planning process for NCOs. *: excluding merger-related charges, gains and losses on sales of investment securities and revaluation of deferred tax assets Note: For a reconciliation of these Non-GAAP financial measures to the comparable GAAP measures, see slides 51-54. 2Q18 Summary Results of Key Non-GAAPMeasures 5 CAGR 14.5% 1.Review 2Q18 financial performance 2.Update component targets in our strategic profitability model 3.Highlight our continued success with the BNCN integration 4.Continue to provide clarity regarding PNFP’s M&A stance 5.Address several important questions that distinguish PNFP from peers 1.Can we continue to organically grow loans at a mid-double digit pace? How long does it take to build out the C&I program in the Carolinas and Virginia? 2.Can we gather relationship-based funding to support loan growth? 3.Despite high deposit betas, can rapid balance sheet growth produce rapid NII and EPS growth? Today’s Agenda 6 7 Loan and Deposit Growth are Keys to Top and Bottom Line Growth Strong performance continues in both total revenues and revenues per share* $2.97 $1.00 $1.40 $1.80 $2.20 $2.60 $3.00 $- $50 $100 $150 $200 $250 Revenues per diluted share* Total Revenues* (millions ) Fee incomeNIITotal revenue per share *:Excluding gains and losses on sales of investment securities. For a reconciliation of these Non-GAAP financial measures to the comparable GAAP measures, see slide 52. 8 Loan and Deposit Growth are Keys to Top and Bottom Line Growth PNFP has continued to grow rev/share during significant transition periods $10.19 $10.28 $10.58 $10.85 $11.14 $11.42 12.9% 7.4% 6.0% 6.4% 9.3% 11.2% 3.8% 3.8% 4.1% 3.7% 5.5% 0% 5% 10% 15% 20% $8.00 $9.00 $10.00 $11.00 $12.00 1Q172Q173Q174Q171Q182Q18 Y/Y Revenue per Share Growth LTM Revenue per Share LTM Revenue Per Share Growth vs. Peers PNFP Revenue/SharePNFP Y/Y GrowthPeer Y/Y Growth BNCN Deal Closed BNCN Deal Announced System Conversion Note: See slide 55 for peer group utilized in the above analysis. Source: S&P Global 9 Linked-quarter loan growth remains strong as yields increase $3,191 $3,212 $3,207 $3,262 $3,280 $3,403 $3,489 $3,580 $3,682 $3,845 $3,932 $3,981 $4,130 $4,251 $4,358 $4,436 $4,625 $4,737 $5,690 $6,458 $6,742 $6,998 $8,233 $8,357 $8,558 $9,817 $15,017 $15,520 $15,957 $16,730 4.88% 5.04% 1.50% 2.25% 3.00% 3.75% 4.50% 5.25% $- $4,000 $8,000 $12,000 $16,000 $20,000 Loan Yields Average Loans (millions) Avg. LoansLoan Yields AVNU BNCN CPMK / Magna Loan and Deposit Growth are Keys to Top and Bottom Line Growth 10 PNFP continues to transition to more variable rate assets 33.6% 19.1% 3.3% 4.3% 39.7% June 30, 2018 LIBOR Prime Treasury bill Fixed < 1 yr Fixed > 1 yr Loan Pricing Allocation •$525 mm Fixed to Floating 3-month LIBOR Forward Swap •Executed early 2Q 2018 •Moves additional 3% of loans from fixed to floating •Three forward starting tranches –Oct’18, Jan’19, Apr’19 •Effective through June 2021 •Currently, ~ 48 basis point spread between current pay fixed rate and 3-month LIBOR •Considering an additional trade currently •Objective by mid-2019 –Fixed rate loans > 1 yr@ < 35% Weighted Average Coupon (*)New Loans AverageRates Sept. 30, 2017June 30, 2018Net change1Q182Q18 LIBOR3.70%4.43%0.73%4.38%4.58% Prime4.52%5.24%0.72%5.48%5.49% Fixedrate4.43%4.44%0.01%4.65%4.72% Fed funds1.25%2.00%0.75%1.75%2.00% (*) Weighted Average EOP Coupon Trends •Excludes impact of PAA and impact from early payoff’s which result in immediate recognition of deferred fees and prepayment penalties and increase actual yields •Avg. contractual life of fixed rate loans approx. 48 months. Loan and Deposit Growth are Keys to Top and Bottom Line Growth 20.1% 11.7% 17.2% 16.3% 11.5% 10.0% 9.8% 24.3% 14.1% 9.8% 18.0% 17.6% 0% 5% 10% 15% 20% 25% 30% 2015Q32015Q42016Q12016Q22016Q32016Q42017Q12017Q22017Q32017Q42018Q12018Q2 Quarterly Loan Growth % - Annualized PNFP Annualized Loan GrowthMedian Annualized Loan Growth Our loan growth continues to significantly outperform peers 11 Loan and Deposit Growth are Keys to Top and Bottom Line Growth Note: See slide 55 for peer group utilized in the above analysis. Source: S&P Global 12 Average deposit balances continued to grow $3,772 $3,723 $3,700 $3,642 $3,597 $3,636 $3,706 $3,883 $3,950 $3,963 $4,199 $4,408 $4,510 $4,519 $4,655 $4,758 $4,792 $4,885 $5,898 $6,787 $7,037 $7,093 $8,454 $8,791 $9,099 $10,394 $15,828 $16,092 $16,281 $16,949 0.25% 2.00% 1.01% 0.78% 0.00% 0.25% 0.50% 0.75% 1.00% 1.25% 1.50% 1.75% 2.00% 2.25% $- $2,000 $4,000 $6,000 $8,000 $10,000 $12,000 $14,000 $16,000 $18,000 Cost of Deposits Avg. Deposits (millions) Avg. DepositsEOP FFS TargetCost of Deposits Deposit Rate Tranches June 30, 2018 % of Totals June30, 2018 Rate Noninterestbearing24.4%0.00% Rate sheet18.8%0.27% Negotiatedwith client29.1%1.23% Indexed8.4%1.99% CDs19.3%1.67% Loan and Deposit Growth are Keys to Top and Bottom Line Growth 15.5% 22.5% 6.2% 12.0% 22.5% 4.1% 23.8% 11.6% 0.8% 16.8% 1.2% 32.9% 80.00% 85.00% 90.00% 95.00% 100.00% 105.00% 110.00% 115.00% 120.00% 0.00% 5.00% 10.00% 15.00% 20.00% 25.00% 30.00% 35.00% 2015Q32015Q42016Q12016Q22016Q32016Q42017Q12017Q22017Q32017Q42018Q12018Q2 Loan/Deposit Ratio Quarterly Deposit Growth % - Annualized PNFP Annualized Deposit GrowthMedian Annualized Deposit GrowthPNFP Loan/Deposit RatioMedian Loan/Deposit Ratio PNFP had significant deposit growth in 2Q18 –L/D ratio decreased to 95% 13 Loan and Deposit Growth are Keys to Top and Bottom Line Growth Note: See slide 55 for peer group utilized in the above analysis. Source: S&P Global 14 Loan and Deposit Growth are Keys to Top and Bottom Line Growth PNFP’s net beta is strong versus peers 25% 31% 15% 0.10 0.20 0.30 0.40 0.50 0.60 0.70 0.80 0.90 4Q151Q162Q163Q164Q161Q172Q173Q174Q171Q182Q18 Cost of Deposits (%) Cost of Deposits & Cumulative Beta PNFP Cost of DepositsPeer Median Cost 43% 41% 24% 3.60 3.80 4.00 4.20 4.40 4.60 4.80 4Q151Q162Q163Q164Q161Q172Q173Q174Q171Q182Q18 Average Earning Asset Yield (%) Earning Asset Yield & Cumulative Beta PNFP Earning Asset YieldPeer Median Yield Strong loan growth requires focus on deposit acquisition... ...But also results in strong asset yields in comparison to peers. Note: See slide 55 for peer group utilized in the above analysis. 15 Fee businesses produce another strong quarter 2Q181Q184Q173Q172Q17 Service charges$6,065$5,820$6,078$5,921$4,179 Investment services4,9065,1074,7233,6603,110 Insurance commissions2,0483,1191,9612,1241,461 Gain on mortgage loans sold, net3,7773,7443,8395,9634,668 Trust fees3,5643,1172,6452,6361,677 Income from equity method investment9,6909,36012,4448,9378,755 Other: Securities gains (losses) -30(8,265)-- Interchange and other consumer fees9,4218,5568,4997,3937,558 Bank-owned life insurance2,8942,7522,8292,6231,395 Loan swap fees7525041881,011336 Other4,8222,0741,5472,7091,918 Total noninterest income$47,939$44,183$36,488$42,977$35,057 Noninterest income/Average Assets0.83%0.81%0.66%0.80%1.05% Core noninterest income**$47,939$44,153$44,753$42,977$35,057 Core Noninterest Income**/Total Average Assets0.83%0.81%0.81%0.80%1.05% Fee Businesses also Contribute to Earnings Growth ** : Excludes the impact of gains and losses on sales of investment securities 16 2Q18 core expense results reflect enviable operating leverage 2Q181Q184Q173Q172Q17 Salaries and benefits$64,112$63,719$ 63,347$64,288$43,674 Equipment and occupancy18,20817,74317,11416,59010,713 Other real estate owned819(794)25251263 Marketing and business development2,5442,2472,0932,2222,127 Postage and supplies2,2912,0391,6621,7551,122 Intangible amortization2,6592,6983,0713,0771,472 Merger-related charges2,9065,35319,1038,8473,221 Other expenses17,36915,57516,33212,4449,406 Total noninterest expense$110,908$108,580$122,973$109,735$71,798 Efficiency ratio48.2%49.7%58.2%50.8%50.7% Expense/Total Average Assets1.91%1.98%2.22%2.05%2.16% Core noninterest expense **$107,183$104,021$103,618$100,376$68,514 Core efficiency ratio **46.6%47.6%47.2%46.4%48.4% Core Noninterest Expense**/Total Average Assets1.85%1.90%1.87%1.88%2.06% ** : Excludes the impact of OREO expense and income and merger-related charges PNFP Focuses on Strategic Expense Management, not Reductions 17 Pinnacle continues to set and deliver against lofty strategic profitability targets Strategic Outlook Going Forward UPDATED Pinnacle Targeted Operating Range GAAP Non-GAAP (1) For the second quarter of 2018 Return on Average Assets1.50% to 1.70%1.50%1.54% Net Interest Margin3.55% to 3.75%3.69%3.69% Noninterest Income to Avg. Assets0.80% to 1.00%0.83%0.83% Noninterest Expense to Avg. Assets1.80% to 2.00%1.91%1.85% Net Charge-off Ratio0.15% to 0.25%0.10%0.10% (1) Non-GAAP amounts exclude ORE expense and income and merger-related charges. For a reconciliation of these Non-GAAP financial measures to the comparable GAAP measures, see slides 52-55. 18 BNCN Integration has been Highly Successful Thesis: Accelerate double-digit growth by building a C&I platform 19 Our C&I and Private Banking hiring is actually 46% ahead of plan C&I and Private Banking actual hires since 7/1/17 Projected Timeline C&I, Private Banking FAs BNCN Integration has been Highly Successful 20 BNC Integration-KeyMeasures of SuccessYTD 2018 1.Continuedhigh-growth CRE and construction lending practice 17.5%* 2. Accelerated C&I and owner-occupied CRE loan growth22.0%* * YTD 2018 annualized growth rate “BNC has a high-growth CRE lending practice that we expect to continue at its previous pace. However, the key to realizing our potential in the Carolinas and Virginia is to build out a large C&I platform –the thing we do best.” PNFP 2017 Annual Report BNCN Integration has been Highly Successful 16.9% 14.0% 0%5%10%15%20% Carolinas and Virginia Organic Annualized Loan and Deposit Growth Since Y/E 2017 21 BNCN Integration has been Highly Successful The Carolinas and Virginia have successfully grown both loans and deposits Loan growth Deposit growth PNFP’s Approach to M&A is Strategic and Disciplined 22 Negotiated deals Management continuity >3 -5% EPS accretion in first full year for smaller deals and 8-10% for larger deals Commercial thrust Sustainable core profitability Capacity to achieve mass in market At least $1 billion in assets M&A CriteriaExisting and Targeted New Markets Source: SNL Financial Note: Blue highlight denotes existing markets of operation; green highlight denotes desired new metropolitan markets M&A criteria have long been publicly stated and adhered to 23 PNFP’s Approach to M&A is Strategic and Disciplined PNFP is amassing the most advantaged markets in the Southeast Source: SNL Financial; deposit data as of June 30, 2017 Note: Blue highlight denotes markets of operation for PNFP; Yellow highlight denotes markets of interest Note: Region defined as AL, GA, MS, NC, SC, TN, VA 1.We expect double digit growth in our existing footprint for several years, so we need no M&A to hit growth or profitability targets 2.Strategically, we desire to compete in large urban markets dominated by Regions, Suntrust, Bank of America and Wells Fargo 3.We have targeted the largest, fastest growing markets in the Southeast 4.Previously we have successfully deployed both denovostart-ups and M&A to extend markets, and are equally comfortable using either technique as opportunities present themselves. 5.Strategic M&A criteria include: 1) urban, not rural 2) commercial, not retail 3) 3-5% EPS accretion for small deals, 8-10% for larger deals; 4) limited TBV dilution 6.We continue to cultivate relationships with limited M&A targets to position negotiated transactions with like-minded partners 7.We would extend by denovostart or M&A only when satisfactory opportunities are available 8.It is hard to imagine how anything could occur in 2018 or early 2019. 24 PNFP’s Approach to M&A is Strategic and Disciplined M&A for PNFP not a necessity to achieve growth plans 25 PNFP’s Model Makes it Distinctive Among its Peers There are several important questions regarding Pinnacle’s distinctive model 1.Can PNFP continue to grow loans at a mid-double-digit pace? How long does it take to build out the C&I program in the Carolinas and Virginia? 2.Can PNFP gather relationship-based funding to fund the loan growth? 3.Despite high deposit betas, can rapid balance sheet growth produce rapid NII and EPS growth? 26 PNFP has consistently grown at a double-digit-pace throughout the BNCN integration $14,758 $15,260 $15,633 $16,326 $17,042 $14,000 $14,500 $15,000 $15,500 $16,000 $16,500 $17,000 $17,500 2Q173Q174Q171Q182Q18 Total Loans ($ in millions) Can PNFP Continue to Grow Loans at a Double-Digit Pace? Merger announcement BrandChange SystemConversion Nashville Knoxville Chattanooga Memphis PNFP’s differentiating practices yield client advocacy and market penetration Source: 2017 Greenwich Associates Market Tracking Program (Pinnacle Financial –$1-500MM -Full Year 2017). Bank #2 Bank #4 Pinnacle Bank #1 Bank #3 0% 5% 10% 15% 20% 25% 020406080100 Lead Relationships as % of Market Net Promoter Score Bank #4 Pinnacle Bank #1 Bank #3 0% 5% 10% 15% 20% 2030405060708090 Lead Relationships as % of Market Net Promoter Score Bank #4 Pinnacle Bank #1 Bank #3 Bank #2 0% 5% 10% 15% 20% 25% 30% 35% 020406080100 Net Promoter Score Bank #4 Pinnacle Bank #1 Bank #3 Bank #5 Bank #2 0% 5% 10% 15% 20% 405060708090 Net Promoter Score Can PNFP Continue to Grow Loans at a Double-Digit Pace? 27 28 Can PNFP Continue to Grow Loans at a Double-Digit Pace? PNFP grows by attracting “market best” talent and moving share 29 What is the potential impact of “bolting on” the C&I business? Can PNFP Continue to Grow Loans at a Double-Digit Pace? INCREMENTAL AVG LOAN VOLUME (000’S)INCREMENTAL AVG DEPOSIT VOLUME(000’S) Yr1Yr2Yr3Yr4Yr5Yr1Yr2Yr3Yr4Yr5 Year 1 Class -13 FAs $52$210$420$628$836$44$178$357$534$710 Year 2 Class –13 FAs $52$210$420$628$44$178$357$534 Year 3 Class –13 FAs $52$210$420$44$178$357 Year 4 Class –13 FAs $52$210$44$178 Year 5 Class –13 FAs $52$44 Total –65FAs $52$262$682$1,310$2,146$44$222$579$1,113$1,823 This is not intended to be loan or deposit growth guidance. It is simply an illustration of the potential volumes. Key illustrative assumptions are: 1) Hiring occurs in a straight line over the course of the year. 2) Production occurs in a straight line from hiring. 3) Mature FAs produce $80 million in loans over a 5 year period with 85% relationship- based funding. 1.PNFP’s model requires core funding of 75-85% 2.PNFP gathers funding primarily through a relationship strategy –not traditional mass market strategies 3.PNFP’s Client Advisory Group in Nashville is the model for building other C&I programs 30 Can PNFP Gather Relationship-Based Funding to Support Loan Growth C&I FAs in Nashville with > 5 years tenure produce 85% relationship funding 31 Can PNFP Gather Relationship Based Funding to Support Loan Growth PNFP added high value consumers 30% faster than norm with no promotion New consumer clients 12.84 9.84 0.002.505.007.5010.0012.50 NormPinnacle Percentage of new households to total clients is 30% higher than norm. 195 100 050100150200250 NormPNFP Average balances nearly twice that of the norm. Infusion uses a proprietary peer-to-peer statistical normative database based on more than 6 billion data points collected from more than 150 financial institutions over the past 20 years. Data for the period from Mar. 1, 2017 to Feb. 28, 2018 1.Hire RMs and CSAs that are net providers of funds 2.Focus existing RMs on sectors/clients that are net providers of funds 3.Augment branch distribution with courier deposit pick up capability 4.Leverage a full suite of electronic banking tools 5.Utilize limited mass marketing techniques in the Carolinas and Virginia 6.Seek non-bank investments that focus on both returns and deposit opportunities 32 Can PNFP Gather Relationship Based Funding to Support Loan Growth PNFP has and will continue to utilize focused tactics to gather deposits Can rapid balance sheet growth produce rapid NII and EPS growth? 33 Funding strong growth is not free but it can produce double-digit NII and EPS growth 1Q18 PNFP: 23% Y/Y NII per share growth with a 23bp Y/Y increase in total deposit cost. Peers: 9% Y/Y NII per share growth with a 16bp Y/Y increase in total deposit cost. PNFP 0.05% 0.10% 0.15% 0.20% 0.25% 0.30% 0.35% 0.0%5.0%10.0%15.0%20.0%25.0% Cost of Total Deposits - Y/Y Change NII Per Share -Y/Y Change PNFP Peer Group NII Per Share Growth vs. Deposit Cost Increase (1Q18) 34 PNFP is focused on rapid growth of NII and EPS more than deposit betas 1.Maintain the margin where possible, but accept volatility within reason (3.55% –3.75%) 2.Continue to add “market best” bankers at a rapid pace 3.Continue to grow loans and NII at mid-double-digit pace 4.Produce outsized EPS growth Long-Term Shareholder Value Q&A – Second Quarter 2018 Investor Call Supplemental Information 36 Chart •Balance Sheet37 •Asset Quality48 •Income Statement49 •Peer Group55 Loan portfolio is well diversified 37 Amts. 2Q18 %’s(*) 2Q18 Amts. 1Q18 %’s(*) 1Q18 Amts. 2Q17 %’s(*) 2Q17 Amts. 2Q16 %’s(*) 2Q16 C&I$4,821.328.3%$4,490.927.5%$3,688.425.0%$2,492.035.1% CRE –Owner Occ. 2,504.914.7%2,427.914.9%2,368.716.0%1,120.115.8% Total C&I & O/O CRE7,326.243.0%6,918.842.4%6,057.141.0%3,612.150.9% CRE –Investment3,822.222.4%3,714.922.8%3,357.122.8%1,066.615.0% CRE –Multifamily and other 697.64.1%651.44.0%661.64.5%280.54.0% C&D and Land2,133.612.5%2,095.912.8%1,772.812.0%816.711.5% Total CRE & Construction6,653.439.0%6,462.239.6%5,791.539.3%2,163.830.5% Consumer RE2,699.415.9%2,580.815.8%2,552.917.3%1,068.615.1% Consumer and other363.92.1%364.22.2%357.32.4%246.93.5% Total Other3,063.318.0%2,945.018.0%2,910.219.7%1,315.518.6% Total loans$17,042.9100.0%$16,326.0100.0%$14,758.8100.0%$7,091.4100.0% (*) as a percentage of total loans Balance Sheet Loan portfolio is well diversified 38 Total PinnacleTennessee LoansCarolinas/ VA LoansOther Unit Loans Amts. 2Q18 Amts. 4Q17 Amts. 2Q18 Amts. 4Q17 Amts. 2Q18 Amts. 4Q17 Amts. 2Q18 Amts. 4Q17 C&I$4,821.3$4,141.3 $3,829.8$3,312.4$616.7$475.9$374.8$353.0 CRE –Owner Occ.2,504.92,460.01,502.01,467.8927.6917.575.374.7 Total C&I & O/O CRE7,326.26,601.35,331.84,780.21,544.31,393.4450.1427.7 CRE –Investment3,822.23,564.01,617.61,516.02,161.02,010.143.637.9 CRE –Multifamily and other 697.6645.6479.3447.5213.1193.45.24.7 C&D and Land2,133.61,908.31,321.41,168.4781.7697.130.542.8 Total CRE & Construction6,653.46,117.93,418.33,131.93,155.82,900.679.385.4 Consumer RE2,699.42,561.21,261.51,203.61,222.51,246.7215.4110.9 Consumer and other363.9352.7159.6143.785.774.0118.6135.0 Total Other3,063.32,913.91,421.11,347.31,308.21,320.7334.0245.9 Total loans$17,042.9$15,633.1$10,171.2$9,259.4$6,008.3$5,614.7$863.4$759.0 (*) as a percentage of total loans Balance Sheet Loan portfolio across the franchise 39 Total PinnacleC&I & O/O CRECRE & ConstructionOther Loans Amts. 2Q18 Amts. 4Q17 Amts. 2Q18 Amts. 4Q17 Amts. 2Q18 Amts. 4Q17 Amts. 2Q18 Amts. 4Q17 Nashville $6,273.2 $5,633.5 $3,067.7 $2,682.8$1,943.9 $1,719.1$1,261.6 $1,231.6 Knoxville 1,483.4 1,448.0 887.1 889.1343.2 350.2253.1 208.7 Chattanooga 1,175.7 1,077.8 694.2 627.8248.9 222.8232.6 227.2 Memphis 1,238.9 1,100.1 682.8 580.6403.0392.3153.1127.2 Total Tennessee $10,171.2 $9,259.4 $5,331.8 $4,780.3$2,939.0 $2,684.4$1,900.4 $1,794.7 Greensboro/Highpoint 1,540.6 1,494.5 523.4 478.3645.1 643.3372.1 372.9 Charlotte 1,785.3 1,612.2 422.9 349.3952.8 847.5409.6415.4 Raleigh 967.0 867.0 187.9 193.3615.1 514.2164.0159.5 Charleston 796.3 788.6 146.4 146.4316.0 300.3333.9 341.9 Greenville 385.9 344.8 83.6 69.3225.4 218.776.9 56.8 Roanoke 441.1 421.4 106.2 90.3170.6 163.9164.3 167.2 SBA 92.1 86.2 73.9 66.517.7 19.30.50.4 Total Carolina/VA $6,008.3 $5,614.7 $1,544.3 $1,393.4$2,942.7 $2,707.2$1,521.3 $1,514.1 Other 863.4 759.0 450.1 427.874.1 80.7339.2 250.5 Total $17,042.9 $15,633.1 $7,326.2 $6,601.5$5,955.8 $5,472.3$3,760.9 $3,559.3 Balance Sheet *: Represents annualized growth rate. (*) as a percentage of total loans 40 Construction portfolio reflects discipline Amts. 2Q18 %’s(*) 2Q18 Amts. 1Q18 %’s(*) 1Q18 Amts. 2Q17 %’s(*) 2Q17 Amts. 2Q16 %’s(*) 2Q16 Residential –Spec $294.91.7%$288.01.8%$243.01.6%$128.91.8% Residential –Custom 137.60.8%123.00.7%153.31.0%92.61.3% Residential –Condo 0.60.0%0.60.0%11.80.1%11.30.2% Commercial Construct. 1,219.07.2%1,207.27.4%894.96.1%319.54.5% Land Dev–Residential 161.20.9%161.21.0%182.71.2%80.31.1% Land Dev –Commercial 201.11.2%200.81.2%186.61.3%181.82.6% Land Dev –Mixed Use 32.40.2%25.10.1%54.90.4%-- Land –Unimproved 86.80.5%90.00.6%45.60.3%2.20.0% Total C&D $2,133.612.5%$2,095.912.8%$1,772.812.0%$816.611.5% Balance Sheet (*) as a percentage of total loans 41 Construction portfolio reflects discipline Total PinnacleTennessee LoansCarolinas/VA LoansOther Unit Loans Amts. 2Q18 Amts. 4Q17 Amts. 2Q18 Amts. 4Q17 Amts. 2Q18 Amts. 4Q17 Amts. 2Q18 Amts. 4Q17 Residential –Spec $294.9$278.7$218.8$206.7$75.7$71.1$0.4$0.9 Residential –Custom 137.695.988.859.648.836.3-- Residential –Condo 0.60.6--0.60.6-- Commercial Construct. 1,219.01,057.4744.7645.0472.1407.72.24.7 Land Dev–Residential 161.2157.599.591.840.842.720.923.0 Land Dev –Commercial 201.1208.895.489.7101.7112.04.07.1 Land Dev –Mixed Use 32.425.78.312.824.110.0-2.9 Land –Unimproved 86.883.766.062.917.916.82.94.0 Total C&D $2,133.6$1,908.3$1,321.5$1,168.5$781.7$697.2$30.4$42.6 Balance Sheet 42 CRE NOO and Construction Allocation Total NOO and Multifamily Total ConstructionTotal NOO and Construction Amts. 2Q18 Amts. 1Q18 Amts. 2Q18 Amts. 1Q18 Amts. 2Q18 Amts. 1Q18 Apartments $738.6$644.8$405.0$375.4$1,143.6$1,020.2 Hotels 643.9568.7106.3119.1750.2687.8 Retail 1,295.01,141.8174.0186.21,469.01,328.0 Office 704.1632.191.5147.4795.6779.5 Warehouse 553.7504.2212.7166.4766.4670.6 Medical 257.8234.1112.994.5370.7328.6 Other 326.7640.61,031.21,007.01,357.91,647.6 Total $4,519.8$4,366.3$2,133.6$2,096.0$6,653.4$6,462.3 Balance Sheet Balance Sheet As projected, total CRE loan portfolio exceeds 300 guidelines 43 Description6/30/20183/31/201812/31/20179/30/20176/30/2017 Loans secured by real estate: Construction, land development, and other loans: 1-4 family residentialconstruction loans$488,893$475,979$445,077$423,988$408,035 Other constructionloans and all land development and other land loans1,644,7531,619,8951,463,2111,515,8211,363,014 Loans included in the 100% test$2,133,646$2,095,874$1,908,288$1,939,809$1,771,049 Securedby multifamily (5 or more) residential properties$716,781$668,904$669,054$638,285$672,979 Loans securedby other nonfarm nonresidential properties3,822,1823,714,8543,564,0483,398,3813,357,120 Financed realestate not secured by real estate 189,690196,807198,769198,769186,505 Loansincluded in the 300% test$6,862,299$6,676,439$6,340,159$6,175,244$5,987,653 Total Risk-Based Capital$2,254,929$2,180,680$2,134,344$2,129,643$2,081,349 %ofTotal Risk-Based Capital 100% Test -NOOCRE + Secured by multi-family 95%96%89%91%85% 300% Test -NOOCRE + Multifamily + Construction304%306%297%290%288% Balance Sheet 44 PNFP remains focused on relationship funding Balance Sheet 45 PNFP remains focused on relationship funding Total PinnacleTransaction and MMDACD's Public Funds and Other Noncore Deposits 2Q184Q172Q184Q172Q184Q172Q184Q17 Nashville$6,852,829$6,488,394$6,169,027$5,906,866$435,272$375,618$248,530$205,911 Knoxville1,361,7241,260,2901,298,0611,217,49335,67124,58627,99218,210 Memphis1,008,862880,548879,082753,065103,67584,86726,10542,616 Chattanooga788,446786,902728,465740,09533,89528,13926,08618,668 Total Tennessee10,011,8619,416,1349,074,6358,617,520608,512513,210328,713285,405 Greensboro/Highpoint1,868,0521,799,6661,573,3061,543,891223,402202,31171,34453,464 Charlotte1,044,227943,402819,278765,042162,337136,85862,61241,502 Charleston877,402835,192684,483666,363159,104143,19933,81525,631 Raleigh Durham562,393409,751453,607382,56552,85121,93055,9355,257 Roanoke527,802500,490416,382406,90395,54680,79215,87312,796 Greenville299,597282,653203,130196,72970,58466,37725,88319,547 SBA-3,825-3,825---- Total Carolinas / VA5,179,4744,774,9804,150,1873,965,317763,825651,466265,462158,196 Other2,666,0842,260,588682,498888,982120,485201,7131,863,1011,169,893 Total$17,857,418$16,451,702$13,907,320$13,471,819$1,492,822$1,366,389$2,457,277$1,613,494 *: Represents annualized growth rate. 46 Balance Sheet Securities book yields increase with more variable rate bonds 3.58% 2.91% 20.75% 12.40% 0.00% 5.00% 10.00% 15.00% 20.00% 25.00% 30.00% 35.00% 40.00% 0.00% 0.50% 1.00% 1.50% 2.00% 2.50% 3.00% 3.50% 4.00% Bond Yields% of Total Assets 78% 71% 22% 29% Sept. 2017June 2018 Bond Portfolio Pricing Fixed RateVariable Rate Conservative bond portfolio Balance Sheet 47 1% 3% 34% 8% 13% 41% AgencyCorporatesMBS Asset BackedCMOsMunicipals ●Duration still under 4% ●Investmentsto Total Assets of 12.4% Portfolio: June 30, 2018 Total Investments $2.975 billion Unrealized Gain (Loss)$(47.7) million QuarterDurationAvg. Yield-TE 2Q183.9%2.9% 1Q183.5%2.9% 4Q173.5%2.7% 3Q173.5%2.6% 2Q173.3%2.5% 1Q173.4%2.4% 4Q163.2%2.3% 3Q162.8%2.3% 2Q162.4%2.5% 1Q162.7%2.6% 48 Asset quality remains very sound (*) >30 days past due (000’s) June 30, 2018As a % of totalloans Dec. 31, 2017As a % of totalloans June30,2017As a % of totalloans PastDue Loans (*) Nonaccrualloans$16,4380.10%$11,6910.07%$17,6020.12% Accruing loans38,3820.23%60,1590.38%28,8930.20% Total pastdue$54,8200.33%$71,8500.46%$46,4950.32% NPLs and > 90 days Const. and land development $2,0280.01%$6,1140.04%$3,8730.03% Consumer RE 20,8930.12%19,3810.12%18,5640.13% CRE –Owner Occupied 25,0380.15%12,6050.08%5,5450.04% CRE –Investment 2,1110.01%3020.00%4,5710.03% Total real estate 53,2040.31%41,6640.27%32,5530.23% C&I 17,6930.10%18,6570.12%8,2800.06% Other1,5610.01%1,2730.01% 1,0760.01% Total loans $72,4580.43%$61,5940.39%$41,9090.30% Classified loans and ORE Substandard commercial loans$226,0581.33%$ 211,3081.35%$230,2161.56% Doubtful commercial loans-0.00%(9)0.00%8320.01% Other impaired loans19,4680.11%15,3290.10%19,8540.13% 90 days past due and accruing (*)1,5720.01%4,1390.03%1,6910.01% Other real estate19,7850.12%27,8310.18%24,8060.17% Other repossessed assets4440.00%1970.00%3480.00% Total$267,3271.57%$ 258,795 1.66%$277,7471.88% Pinnacle Bank classified asset ratio12.6%12.9%14.2% Asset Quality Income Statement 49 $0 $5,000,000 $10,000,000 $15,000,000 $20,000,000 $25,000,000 Q3 2017Q4 2017Q1 2018Q2 2018Q3 2018Q4 2018Q1 2019Q2 2019Q3 2019Q4 2019 Actual/Anticipated Discount Accretion Through Dec 2019 Actuals / Current ProjectionOriginal Consultant Projections Life to date accretion approximates original projections. Anticipate continued reduction in accretion income in future periods. 15.00% 20.00% 25.00% 30.00% 35.00% 40.00% 45.00% 15.00% 20.00% 25.00% 30.00% 35.00% 40.00% 45.00% 1Q172Q173Q174Q171Q182Q18 Income Tax Effective Tax Rate Trends Income tax as % of pre-tax income, excluding discrete itemsBlended statutory tax rate Continue to pursue tax initiatives to reduce firm’s ETR. Income Statement Mortgage volumes rise in 2Q18 50 0.00% 1.00% 2.00% 3.00% 4.00% 5.00% 6.00% $25,000 $75,000 $125,000 $175,000 $225,000 $275,000 $325,000 Purchase MoneyRefinanceGross fees as a % of loans originated Income Statement 51 2Q181Q184Q173Q172Q17 Net interest income$182,236$174,471$174,731$173,182$106,627 Total noninterest income47,93944,18336,48842,97735,057 Total revenues$230,175$218,654$211,219$216,159$141,684 Less: Investment (gains) losses on sales of securities, net-(30)8,265-- Total revenues, excluding investment (gains) losses on sales of securities, net$230,175$218,624$219,484$216,159$141,684 Total noninterest expense$110,908$108,580$122,973$109,736$71,798 Less: ORE expenses (income)819(794)25251263 Merger-related charges2,9065,35319,1038,8473,221 Core noninterest expense, excluding the impact of ORE expense (income) and merger-related charges$107,183$104,021$103,618$100,377$68,514 Adjusted pre-tax pre-provision income$122,992$114,603$115,866$115,782$73,170 Efficiency ratio48.2%49.7%58.2%50.8%50.7% Adjustment due to securities gains and losses, ORE expense (income) and merger-related charges (1.6%)(2.1%)(11.0%)(4.4%)(2.3%) Core Efficiency ratio46.6%47.6%47.2%46.4%48.4% Noninterest income/ Average assets0.83%0.81%0.66%0.80%1.05% Adjustment due to investment (gains) losses on sales of securities, net--0.15%-- Noninterest income, excluding the impact of net gains on sale of investment securities/ Average Assets0.83%0.81%0.81%0.80%1.05% Noninterest expense/ Average assets1.91%1.98%2.22%2.05%2.16% Adjustment due to ORE expense (income) and merger-related charges(0.06%)(0.08%)(0.35%)(0.17%)(0.10%) Core noninterest expense, excluding ORE expense (income) and merger-related charges/ Average Assets1.85%1.90%1.87%1.88%2.06% Reconciliation of Non-GAAP measures Income Statement 52 2Q181Q184Q173Q172Q17 Net income$86,865$83,510$26,798$64,442$43,086 Merger-related charges2,9065,35319,1038,8473,221 Investment (gains) losses on sales of securities-(30)8,265-- Tax effect on merger-related charges and investment (gains) losses on sales of securities(760)(1,391)(10,736)(3,471)(1,264) Revaluation of deferred tax assets--31,486-- Net income excluding merger-related charges, investment (gains) losses on sales of securities and revaluation of deferred tax assets$89,011$87,442$74,916$69,818$45,043 Basic earnings per share $1.13$1.08$0.35$0.84$0.81 Adjustment to basic earnings per share due to merger-related charges, investment (gains) losses on sales of securities and revaluation of deferred tax assets0.020.050.630.070.04 Basic earnings per share excluding merger-related charges, investment (gains) losses on sales of securities and revaluation of deferred tax assets$1.15$1.13$0.98$0.91$0.85 Diluted earnings per share$1.12$1.08$0.35$0.83$0.80 Adjustment to diluted earnings per share due to merger-related charges, investment (gains) losses on sales of securities and revaluation of deferred tax assets0.030.050.620.070.04 Diluted earnings per share excluding merger-related charges, investment (gains) losses on sales of securities and revaluation of deferred tax assets$1.15$1.13$0.97$0.90$0.84 Book value per share$49.15$48.16$47.70$47.31$46.56 Adjustment due to goodwill, core deposit and other intangible assets(23.87)(23.92)(23.99)(23.99)(23.98) Tangible book value per share$25.28$24.24$23.71$23.32$22.58 Revenue per share$2.97$2.83$2.73$2.80$2.64 Adjustment due to goodwill, core deposit and other intangible assets--0.10-- Revenue per share excluding investment (gains) losses on sales of securities$2.97$2.83$2.83$2.80$2.64 Reconciliation of Non-GAAP measures Income Statement 53 Reconciliation of Non-GAAP measures 2Q181Q184Q173Q172Q17 Net income$86,865$83,510$26,798$64,442$43,086 Merger-related charges2,9065,35319,1038,8473,221 Investment (gains) losses on sales of securities-(30)8,265-- Tax effect on merger-related charges and investment (gains) losses on sales of securities(760)(1,391)(10,736)(3,471)(1,264) Revaluation of deferred tax assets--31,486-- Net income excluding merger-related charges, investment (gains) losses on sales of securities and revaluation of deferred tax assets$89,011$87,442$74,916$69,818$45,043 Average stockholders’ equity $3,795,963$3,732,633$3,706,741$3,655,029$2,057,505 Less: Average goodwill (1,807,850)(1,808,055)(1,803,546)(1,800,761)(760,646) Average core deposit and other intangible assets (53,018)(55,681)(58,192)(59,521)(23,957) Net average tangible common equity $1,935,095$1,868,897$1,845,003$1,794,747$1,272,902 Return on average common equity9.18%9.07%2.87%6.99%8.40% Adjustment due to goodwill, core deposit and other intangible assets8.83%9.05%2.89%7.26%5.18% Return on average tangible common equity18.01%18.12%5.76%14.25%13.58% Adjustment due to merger-related charges, investment (gains) losses on sales of securities and revaluation of deferred tax assets0.44%0.86%10.35%1.18%0.61% Return on average tangible common equity (excludingmerger-related charges, investment (gains) losses on sales of securities and revaluation of deferred tax assets)18.45%18.98%16.11%15.43%14.19% Total average assets$23,236,945$22,204,599$21,933,500$21,211,459$13,335,359 Income Statement 54 Reconciliation of Non-GAAP measures 2Q181Q184Q173Q172Q17 Net income$86,865$83,510$26,798$64,442$43,086 Merger-related charges2,9065,35319,1038,8473,221 Investment (gains) losses on sales of securities-(30)8,265-- Tax effect on merger-related charges and investment (gains) losses on sales of securities(760)(1,391)(10,736)(3,471)(1,264) Revaluation of deferred tax assets--31,486-- Net income excluding merger-related charges, investment (gains) losses on sales of securities and revaluation of deferred tax assets$89,011$87,442$74,916$69,818$45,043 Average assets$23,236,945$22,204,599$22,505,700$21,211,459$13,335,359 Less: Average goodwill(1,807,850)(1,808,055)(1,808,002)(1,800,761)(760,646) Average core deposit and other intangible assets(53,018)(55,681)(56,710)(59,781)(23,957) Net average tangible assets$21,376,077$20,340,863$20,340,988$19,351,177$12,550,756 Return on average assets1.50%1.53%0.48%1.21%1.30% Adjustment due to merger-related charges, gains and losses on sales of investment securities and revaluation of deferred tax assets 0.04%0.07%0.88%0.10%0.05% Return on average assets (excluding merger-related charges, gains and losses on sales of investment securities and revaluation of deferred tax assets) 1.54%1.60%1.36%1.31%1.35% Return on average assets1.50%1.53%0.48%1.21%1.30% Adjustment due to goodwill, core deposit and other intangible assets0.13%0.14%0.05%0.11%0.08% Return on average tangible assets1.63%1.67%0.53%1.32%1.38% Adjustment due to merger-related charges, investment (gains) losses on sales of securities and revaluation of deferred tax assets0.04%0.07%0.95%0.11%0.06% Return on average tangible assets (excludingmerger-related charges, investment (gains) losses on sales of securities and revaluation of deferred tax assets)1.67%1.74%1.48%1.43%1.44% 2018 Peer Group 55 Institution Name Ticker City, State Pinnacle Financial PartnersPNFPNashville, TN Associated Banc-CorpASBGreen Bay, WI BancorpSouth, Inc.BXSTupelo, MS Bank of the Ozarks, Inc.OZRKLittle Rock, AR Chemical Financial CorporationCHFCMidland, MI Cullen/Frost Bankers, Inc.CFRSan Antonio, TX F.N.B. CorporationFNBPittsburgh, PA First Horizon National CorporationFHNMemphis, TN Fulton Financial CorporationFULTLancaster, PA Hancock Holding CompanyHWCGulfport, MS IBERIABANK CorporationIBKCLafayette, LA MB Financial, Inc.MBFIChicago, IL Old National BancorpONBEvansville, IN PacWest BancorpPACWBeverly Hills, CA Prosperity Bancshares, Inc.PBHouston, TX Sterling BancorpSTLMontebello, NY Synovus Financial Corp.SNVColumbus, GA TCF Financial CorporationTCFWayzata, MN Trustmark CorporationTRMKJackson, MS UMB Financial CorporationUMBFKansas City, MO Umpqua Holdings CorporationUMPQPortland, OR United Bankshares, Inc.UBSICharleston, WV Valley National BancorpVLYWayne, NJ Western Alliance BancorporationWALPhoenix, AZ Wintrust Financial CorporationWTFCRosemont, IL Second Quarter 2018 Investor Call M. Terry Turner, President and CEO Harold R. Carpenter, EVP and CFO July 18, 2018

Second   Quarter   2017 Investor   Call M.   Terry   Turner,   President   and   CEO Harold   R.   Carpenter,   EVP   and   CFO July   19,   2017 Forward   Looking   Statements   All   statements,   other   than   statements   of   historical   fact,   included   in   this   presentation,   are   forward ‐ looking   statements   within   the   meaning   of   the   Private   Securities   Litigation   Reform   Act   of   1995,   Section   27A   of   the   Securities   Act   and   Section   21E   of   the   Exchange   Act.   The   words   "expect,"   "anticipate,"   "intend,"   "plan,"   "believe,"   "seek,"   "estimate"   and   similar   expressions   are   intended   to   identify   such   forward ‐ looking   statements,   but   other   statements   not   based   on   historical   information   may   also   be   considered   forward ‐ looking   statements.   These   forward ‐ looking   statements   are   subject   to   known   and   unknown   risks,   uncertainties   and   other   factors   that   could   cause   the   actual   results   to   differ   materially   from   the   statements,   including,   but   not   limited   to: (i)   deterioration   in   the   financial   condition   of   borrowers   resulting   in   significant   increases   in   loan   losses   and   provisions   for   those   losses;   (ii)   continuation   of   the   historically   low   short ‐ term   interest   rate   environment;   (iii)   the   inability   of   Pinnacle   Financial,   or   entities   in   which   it   has   significant   investments,   like   BHG,   to   maintain   the   historical   growth   rate   of   its,   or   such   entities',   loan   portfolio;   (iv)   changes   in   loan   underwriting,   credit   review   or   loss   reserve   policies   associated   with   economic   conditions,   examination   conclusions,   or   regulatory   developments;   (v)   effectiveness   of   Pinnacle   Financial's asset   management   activities   in   improving,   resolving   or   liquidating   lower ‐ quality   assets;   (vi)   increased   competition   with   other   financial   institutions;   (vii)   greater   than   anticipated   adverse   conditions   in   the   national   or   local   economies   including   in   Pinnacle   Financial's markets   throughout   Tennessee,   North   Carolina,   South   Carolina   and   Virginia, particularly   in   commercial   and   residential   real   estate   markets;   (viii)   rapid   fluctuations   or   unanticipated   changes   in   interest   rates   on   loans   or   deposits;   (ix)   the   results   of   regulatory   examinations;   (x)   the   ability   to   retain   large,   uninsured   deposits;   (xi)   a   merger   or   acquisition,   like   Pinnacle   Financial's merger   with   BNC;   (xii)   risks   of   expansion   into   new   geographic   or   product   markets;   (xiii)   any   matter   that   would   cause   Pinnacle   Financial   to   conclude   that   there   was   impairment   of   any   asset,   including   intangible   assets;   (xiv)   reduced   ability   to   attract   additional   financial   advisors   (or   failure   of   such   advisors   to   cause   their   clients   to   switch   to   Pinnacle   Bank),   to   retain   financial   advisors   or   otherwise   to   attract   customers   from   other   financial   institutions;   (xv)   further   deterioration   in   the   valuation   of   other   real   estate   owned   and   increased   expenses   associated   therewith;   (xvi)   inability   to   comply   with   regulatory   capital   requirements,   including   those   resulting   from   changes   to   capital   calculation   methodologies   and   required   capital   maintenance   levels;   (xvii)   risks   associated   with   litigation,   including   the   applicability   of   insurance   coverage;   (xviii)   the   risk   of   successful   integration   of   the   businesses   Pinnacle   Financial   has   recently   acquired   with   its   business;   (xix)   approval   of   the   declaration   of   any   dividend   by   Pinnacle   Financial's board   of   directors;   (xx)   the   vulnerability   of   Pinnacle   Bank's   network   and   online   banking   portals   to   unauthorized   access,   computer   viruses,   phishing   schemes,   spam   attacks,   human   error,   natural   disasters,   power   loss   and   other   security   breaches;   (xxi)   the   possibility   of   increased   compliance   costs   as   a   result   of   increased   regulatory   oversight,   including   oversight   of   companies in which   Pinnacle   Financial   or   Pinnacle   Bank   have   significant   investments,   like   BHG,   and   the   development   of   additional   banking   products   for   Pinnacle   Bank's   corporate   and   consumer   clients; (xxii)   the   risks   associated   with   Pinnacle   Financial   and   Pinnacle   Bank   being   a   minority   investor   in   BHG,   including   the   risk   that   the   owners   of   a   majority   of   the   equity   interests   in   BHG   decide   to   sell   the   company   if   not   prohibited   from   doing   so   by   the   terms   of   our   agreement   with   them;   (xxiii)   the   possibility   that   the   incremental   cost   and/or   decreased   revenues   associated   with   exceeding   $10   billion   in   assets   will   exceed   current   estimates;   (xxiv)   changes   in   state   and   federal   legislation,   regulations   or   policies   applicable   to   banks   and   other   financial   service   providers,   like   BHG,   including   regulatory   or   legislative   developments;   (xxv)   the   risk   that   the   cost   savings   and   any   revenue   synergies   from   Pinnacle   Financial's merger   with   BNC   may   not   be   realized   or   take   longer   than   anticipated   to   be   realized;   (xxvi)   disruption   from   Pinnacle   Financial's merger   with   BNC   with   customers,   suppliers,   employee   or   other   business   partners   relationships;   (xxvii)   the   risk   of   successful   integration   of   Pinnacle   Financial's and   BNC's   businesses;   (xxviii)   the   amount   of   the   costs,   fees,   expenses   and   charges   related   to   Pinnacle   Financial's merger   with   BNC;   (xxix)   reputational   risk   and   the   reaction   of   the   parties'   customers,   suppliers,   employees   or   other   business   partners   to   Pinnacle   Financial's merger   with   BNC;   (xxx)   the   risk   that   the   integration   of   Pinnacle   Financial's and   BNC's   operations   will   be   materially   delayed   or   will   be   more   costly   or   difficult   than   expected;   (xxxi)   the   dilution   caused by   Pinnacle   Financial's issuance   of   additional   shares   of   its   common   stock   in   its   merger   with   BNC;   and   (xxxii)   general   competitive,   economic,   political   and   market conditions.   Additional   factors   which   could   affect   the   forward   looking   statements   can   be   found   in   Pinnacle   Financial's Annual   Report   on   Form   10 ‐ K,   Quarterly   Reports   on   Form   10 ‐ Q,   and   Current   Reports   on   Form   8 ‐ K   filed   with   the   SEC   and   available   on the   SEC's   website   at   http://www.sec.gov.   Pinnacle   Financial   disclaims   any   obligation   to   update   or   revise   any   forward ‐ looking   statements   contained   in   this   presentation,   which   speak   only   as   of   the   date   hereof,   whether   as   a   result   of   new   information,   future   events   or   otherwise. Safe   Harbor   Statements Non ‐ GAAP   Financial   Matters This   release   contains   certain   non ‐ GAAP   financial   measures,   including,   without   limitation,   net   income,   earnings   per   diluted   share,   efficiency   ratio,   core   net   interest   margin,   noninterest   expense   and   the   ratio   of   noninterest   expense   to   average   assets   and   noninterest   expense   to   the   sum   of   net   interest   income   and   noninterest   income,   in   each   case   excluding   the   impact   of   expenses   related   to   other   real   estate   owned,   gains   or   losses   on   sale   of   investments   and   other   matters   for   the   accounting   periods   presented.   This   release   also   includes   non ‐ GAAP   financial   measures   which exclude   expenses   associated   with   Pinnacle   Bank's   mergers   with   CapitalMark Bank   &   Trust,   Magna   Bank,   Avenue   Financial   Holdings,   Inc.   and   BNC,   as   well   as   Pinnacle   Financial's and   its   bank   subsidiary's   investments   in   BHG.   This   release   may   also   contain   certain   other   non ‐ GAAP   capital   ratios   and   performance   measures.   These   non ‐ GAAP   financial   measures   exclude   the   impact   of   goodwill   and   core   deposit   intangibles   associated   with   Pinnacle   Financial's acquisitions   of   BNC,   which   Pinnacle   Financial   acquired   on   June   16,   2017,   Avenue,   which   Pinnacle   Financial   acquired   on   July   1,   2016,   Magna   Bank   which   Pinnacle   Bank   acquired   on   September   1,   2015,   CapitalMark Bank   &   Trust   which   Pinnacle   Bank   acquired   on   July   31,   2015,   Mid ‐ America   Bancshares,   Inc.   which   Pinnacle   Financial   acquired   on   November   30,   2007,   Cavalry   Bancorp,   Inc.,   which   Pinnacle   Financial acquired   on   March   15,   2006   and   other   acquisitions   which   collectively   are   less   material   to   the   non ‐ GAAP   measure.   The   presentation   of   the   non ‐ GAAP   financial   information   is   not   intended   to   be   considered   in   isolation   or   as a   substitute   for   any   measure   prepared   in   accordance   with   GAAP.   Because   non ‐ GAAP   financial   measures   presented   in   this   release   are   not   measurements   determined   in   accordance   with   GAAP   and   are   susceptible   to   varying   calculations,   these   non ‐ GAAP   financial   measures,   as   presented,   may   not   be   comparable   to   other   similarly   titled   measures   presented   by   other   companies.Pinnacle Financial   believes   that   these   non ‐ GAAP   financial   measures   facilitate   making   period ‐ to ‐ period   comparisons   and   are   meaningful   indications   of   its   operating   performance.   In   addition,   because   intangible   assets   such   as   goodwill   and   the   core   deposit   intangible,   and   the   other   items   excluded   each   vary   extensively   from   company   to   company,   Pinnacle   Financial   believes   that   the   presentation   of   this   information   allows   investors   to   more   easily   compare   Pinnacle   Financial's results   to   the   results   of   other   companies.   Pinnacle   Financial's management   utilizes   this   non ‐ GAAP   financial   information   to   compare   Pinnacle   Financial's operating   performance   for   2017   versus   certain   periods   in   2016   and   to   internally   prepared   projections. Safe   Harbor   Statements ‐‐‐ :   Reflects   historical   operating   ranges   for   NPA/   Loans   &   OREO   and   Classified   Asset   Ratio.   Reflects   target   ranges   resulting   from   the   annual   corporate   strategic   planning   process   for   NCOs.   $19.86   $21.47   $23.39   $29.92   $46.56   Book   Value   per   Share 0.93% 0.66% 0.53% 0.55% 0.44% NPA/   Loans   &   OREO $4,097   $4,652   $4,994   $7,293   $15,757   Total   Deposits (millions) $3,925   $4,316   $4,830   $7,091   $14,759   Total   Loans (millions) 12.75% 13.50% 15.39% 15.34% 13.58% ROTCE $0.42   $0.49   $0.64   $0.73   $0.80   FD   EPS $54,949   $59,820   $71,293   $107,756   $141,684   Total   Revenues 2Q17   Summary   Results   – GAAP   Measures Balance Sheet GrowthEarnings GrowthAsset Quality Execution   of   fundamentals   fueled   exceptional   growth   in   key   valuation   drivers 23.3% 18.1% 19.0% 19.3% 14.2% Classified   Asset   Ratio 0.36% 0.08% 0.16% 0.35% 0.17% NCOs ‐‐‐ :   Reflects   historical   operating   ranges   for   NPA/   Loans   &   OREO   and   Classified   Asset   Ratio.   Reflects   target   ranges   resulting   from   the   annual   corporate   strategic   planning   process   for   NCOs. *:   excluding   merger ‐ related   charges   $12.78   $14.53   $16.56   $19.58   $22.58   Tangible   Book   Value   per   Share 12.72% 13.50% 15.44% 15.64% 14.19% ROTCE* $0.42   $0.49   $0.64   $0.75   $0.84   FD   EPS* $4,097   $4,652   $4,994   $7,293   $15,757   Total   Deposits (millions) $3,925   $4,316   $4,830   $7,091   $14,759   Total   Loans (millions) $54,949   $59,820   $71,293   $107,756   $141,684   Total   Revenues 2Q17   Summary   Results   –Non ‐ GAAP   Measures Balance Sheet Growth Earnings Growth Asset Quality Execution   of   fundamentals   fueled   exceptional   growth   in   key   valuation   drivers 0.36% 0.08% 0.16% 0.35% 0.17% NCOs 23.3% 18.1% 19.0% 19.3% 14.2% Classified   Asset   Ratio 0.93% 0.66% 0.53% 0.55% 0.44% NPA/   Loans   &   OREO 6 ‐‐‐ :   Reflects   targets   resulting   from   the   annual   corporate   strategic   planning   process   for   the   then   current   period.   Pinnacle   delivers   against   lofty   strategic   targets 2Q17   Summary   Results   – GAAP   Measures 0.00%0.20%0.40%0.60%0.80%1.00%1.20%1.40%1.60% ROAA 3.30%3.40%3.50%3.60%3.70%3.80%3.90%4.00% Net   Interest   Margin 0.70%0.80%0.90%1.00%1.10%1.20%1.30%1.40% Noninterest   Income   /   Average   Assets   2.00%2.20%2.40%2.60%2.80%3.00%3.20% Noninterest   Expense   /   Average   Assets 0.00%0.05%0.10%0.15%0.20%0.25%0.30%0.35%0.40%0.45%0.50% Net   Chargeoff   Ratio 7 (1)  ‐ Calculation   excludes   net   gains   and   losses   on   the   sale   of   investment   securities   and    in   the   second   quarter   of   2013   noncredit   related   loan   losses (2)  ‐ Calculation   excludes   OREO   expense,   FHLB   prepayment   charges   and   merger ‐ related   charges.   Noninterest   expense   for   2Q13   includes   the   impact   of   the   reversal   of    a   $2.0   million   allowance   for   off ‐ balance   sheet   commitments   ‐‐‐ :   Reflects   targets   resulting   from   the   annual   corporate   strategic   planning   process   for   the   then   current   period.   Pinnacle   delivers   against   lofty   strategic   targets   2Q17   Summary   Results   –Non ‐ GAAP   Measures 0.93% 1.10% 1.21% 1.44% 1.36% 1.35% 0.00%0.20%0.40%0.60%0.80%1.00%1.20%1.40%1.60% ROAA 3.76% 3.77% 3.71% 3.65% 3.72% 3.68% 3.30%3.40%3.50%3.60%3.70%3.80%3.90%4.00% Net   Interest   Margin 0.81% 0.93% 0.89% 1.24% 1.41% 1.05% 0.70%0.80%0.90%1.00%1.10%1.20%1.30%1.40% Noninterest   Income   /   Average   Assets   (1) 2.56% 2.27% 2.38% 2.31% 2.37% 2.06% 2.00%2.10%2.20%2.30%2.40%2.50%2.60%2.70% Noninterest   Expense   /   Average   Assets (2) 0.28% 0.36% 0.08% 0.16% 0.35% 0.17% 0.00%0.05%0.10%0.15%0.20%0.25%0.30%0.35%0.40%0.45%0.50% Net   Chargeoff   Ratio PNFP   continued   the   infrastructure   build   in   2Q17   to   support   future   rapid   growth 1. Pinnacle   /   BNC   merger   update • Jan.   22   – Announcement   of   transaction • Apr.   6   –Regulatory   approvals   obtained • June   12   – Shareholder   meetings   anticipated • June   16   –Merger   close • September   –BNCN   brand   conversion   to   Pinnacle • November   –Legacy   Pinnacle   systems   conversion • Year   End   – Combining   of   PNFP   &   BNC   data   files • Early   2018   –Synergy   case   fully   deployed 2. Aggressive   hiring   plan– Added   33   revenue   producers   to   our   roster,   of   which   14   were   in   the   BNC   markets.   3. Net   loan   growth   strong   –2Q17   net   loan   growth   of   $478   mm   for   PNFP   and   $190   mm for   BNC,   excluding   fair   value   adjustments 2Q17   Summary   Results 8 9 Loan   and   Deposit   Growth   are   Keys   to   Earnings   Growth Strong   performance   continues   in   both   total   revenues   and   revenues   per   share   $1.31   $2.64     $ ‐   $0.50   $1.00   $1.50   $2.00   $2.50   $3.00   $ ‐   $25   $50   $75   $100   $125   $150 Revenues per diluted WAVG share Total Revenues  (000's) Fee   income NII Total   revenue   per   share 10 Linked ‐ quarter   loan   growth   remains   strong   as   yields   increase $3,191 $3,212 $3,207 $3,262 $3,280 $3,403 $3,489 $3,580 $3,682 $3,845 $3,932 $3,981 $4,130 $4,251 $4,358 $4,436 $4,625 $4,737 $5,690 $6,458 $6,742 $6,998 $8,233 $8,357 $8,558 $9,817 4.88% 4.66% 0.00%1.00%2.00%3.00%4.00%5.00%   $ ‐   $2,000   $4,000   $6,000   $8,000   $10,000 Loan Yields Average Loans  (millions) Avg.   Loans Loan   Yields Loan   and   Deposit   Growth   are   Keys   to   Earnings   Growth   11 Average   deposit   balances   grew   $1.3   billion   in   2Q17 $3,772  $3,723  $3,700  $3,642  $3,597  $3,636  $3,706  $3,883  $3,950  $3,963  $4,199  $4,408  $4,510  $4,519  $4,655  $4,758  $4,792  $4,885  $5,898  $6,787  $7,037  $7,093  $8,454  $8,791  $9,099  $10,394  0.25% 1.25% 1.01% 0.42% 0.00%0.20%0.40%0.60%0.80%1.00%1.20%1.40%1.60%1.80%2.00%   $ ‐   $1,000   $2,000   $3,000   $4,000   $5,000   $6,000   $7,000   $8,000   $9,000   $10,000   $11,000 Avg. Deposits (millions) Avg.   Deposits Fed   Funds   Target Cost   of   Deposits Loan   and   Deposit   Growth   are   Keys   to   Earnings   Growth   12 Fee   businesses   produce   another   strong   quarter   –Up   20.5%   year ‐ over ‐ year 2Q17 1Q17 4Q16 3Q16 2Q16 Service   charges $4,179 $3,856 $3,850 $3,778 $3,430 Investment   services 3,110 2,822 3,320 2,592 2,500 Insurance   commissions 1,461 1,859 1,178 1,233 1,193 Gain   on   mortgage   loans   sold,   net 4,668 4,155 2,869 5,097 4,221 Trust   fees 1,677 1,705 1,734 1,523 1,492 Income   from   equity   method   investment 8,755 7,823 8,136 8,475 9,644 Other: Securities   gains   (losses)  ‐‐ 395 ‐‐ Interchange   and   other   consumer   fees 7,558 6,151 6,171 6,464 5,768 Bank ‐ owned   life   insurance 1,395 1,099 952 955 878 Loan   swap   fees 336 261 495 859 1,780 Other 1,918 651 1,643 716 1,807 Total   noninterest   income $35,057 $30,382 $30,743 $31,692 $32,713 Total   Assets   (Quarterly   Average) $13,335,359 $11,421,654 $11,037, 557 $10,883,546 $9,305,941 Noninterest   income/Average   Assets 1.05% 1.08% 1.11% 1.16% 1.41% Fee   Businesses   also   Contribute   to   Earnings   Growth 13 2Q17   expenses   remain   inside   strategic   targets 2Q17 1Q17 4Q16 3Q16 2Q16 Salaries   and   benefits $43,676 $38,352 $37,994 $36,053 $34,254 Equipment   and   occupancy 10,713 9,675 9,228 9,401 8,312 Other   real   estate   owned 63 252 44 17 222 Marketing   and   business   development 2,127 1,879 2,386 1,350 1,538 Postage   and   supplies 1,122 1,196 1,000 922 1,050 Intangible   amortization 1,472 1,196 1,137 1,425 847 Merger   related   expense 3,221 672 3,264 5,672 980 Other   expenses 9,404 8,831 7,712 8,686 8,727 Total   noninterest   expense $71,798 $62,053 $62,765 $63,526 $55,931 Efficiency   ratio 50.7% 52.1% 52.2% 53.7% 51.9% Expense/Total   Average   Assets 2.16% 2.20% 2.26% 2.32% 2.42% Core   noninterest   expense   ** $68,514 $61,130 $59,457 $57,837 $54,729 Core   efficiency   ratio 48.4% 51.3% 49.6% 48.9% 50.8% Core   Noninterest   Expense ** /Total   Average   Assets 2.06% 2.17% 2.14% 2.11% 2.37% **   Excludes   the   impact   of   OREO   expense   and   merger   related   expenses PNFP   Focuses   on   Strategic   Expense   Management $19.86   $21.47   $23.39   $29.92   $46.56   GAAP  ‐ Book   Value   per   Share $12.78   $14.53   $16.56   $19.58   $22.58   Non ‐ GAAP   –TBV   per   Share 14 BNC   Tangible   Book   Value   Accretion   Exceeds   Target Total   equity Intangibles Tangible   equity Shares   issued TE/Shares Dec   2016   equity 1,496,696 $                (566,698) $              929,998 $               46,359                  20.06 $                 Jan.   2017   common   issuance   192,194                       ‐                           192,194                  3,220                     59.69 $                  BNC   equity   issuance 1,847,833                   (1,297,720)             550,113                  27,687                  19.87 $                      Impact   of   BNC   to   TBV 2,040,027                  (1,297,720)            742,307                 30,907                  24.02 $                 1H17   net   income 82,740                         ‐                           82,740                    1H17   dividends (14,050)                       ‐                           (14,050)                   1H17   other 9,914                           2,712                       12,626                    380                        June   equity 3,615,327 $                (1,861,705) $          1,753,621 $           77,647                  22.58 $                 Key   Transaction   Impacts   to   PNFP (1) 2018E   EPS   Accretion ~   10% IRR ~   20% Initial   Tangible   Book   Value   Accretion ~   5% Tangible   Book   Value   Earnback   Period n/a As   of   December   31,   2016 Pro   Forma PNFP BNCN @   7/1/2017 (1) Capital   Ratios TCE   /   TA 8.8% 9.0% 9.3% Leverage   Ratio 8.6% 10.1% 9.0% Common   Equity   Tier   I   Ratio 7.9% 10.5% 9.5% Tier   I   Ratio 8.6% 11.2% 9.5% Total   Risk ‐ based   Capital   Ratio 11.9% 13.0% 12.5% Loan   Concentration   Ratios C&D   /   Total   Capital 75% 85% 77% CRE   /   Total   Capital 240% 338% 272% 15 Updated 6/30/17 9.2% 14.5% 9.5%9.5% 12.6% 85% 286% On Track BNC   Tangible   Book   Value   Accretion   Exceeds   Target 80% 85% 77% 286% 338% 272% 16 The   Path   Forward “What’s   past   is   prologue.” Source: 2017 Greenwich Associates Market Tracking Pr ogram Q1 2017 – Pinnacle Financial ($1-500MM) Pinnacle Regional   A Regional   B Regional   C National   A   0% 10%20%30% 35% 45% 55% 65% 75% 85% Client Penetration Excellent   Client   Satisfaction Nashville Knoxville Pinnacle Regional   A Regional   B Regional   C National   A   0% 10%20%30% 25% 35% 45% 55% 65% Client Penetration Excellent   Client   Satisfaction Chattanooga Memphis Pinnacle Regional   A Regional   B Regional   C National   A 0% 10%20%30% 35% 40% 45% 50% 55% 60% 65% 70% Client Penetration Excellent   Client   Satisfaction Pinnacle Regional   A Regional   B Regional   C National   A   0% 10%20%30%40% 35% 45% 55% 65% 75% 85% Client Penetration Excellent   Client   Satisfaction Extraordinary   Growth   Potential   on   the   Path   Forward PNFP   has   a   competitive   advantage   to   take   share   from   large   regionals 18 PNFP   is   getting   great   traction   in   recent   market   extensions Market At   6/30/17 At   12/31/16 At   12/31/15 YTD Annualized Growth Loans   (000’s) Memphis 875   736   458   37.8% Chattanooga 922 800 708 30.5% Core   Deposits   (000’s)   Memphis 716 661 385 16.6% Chattanooga 673 559 505 40.8% Revenue   Producers Memphis 52 47 40 21.3% Chattanooga 38 34 23 23.5% Extraordinary   Growth   Potential   on   the   Path   Forward Note: Cross-hairs are set at the mean for market penetr ation (Y-axis) and excellent c lient satisfaction (X-axis). Question: Using a 5-point scale, from "1" poor to "5" excellent, how do you rate your overall satisfaction with the bank? Which other banks, non-banks, credit unions, or financial institutions does your company currently use for any product?Source: 2016 Greenwich Associates Mar ket Tracking Program (Bank of North Carolina - $1-500MM - Full Year 2016). Extraordinary   Growth   Potential   on   the   Path   Forward BNC   is   the   perfect   platform   for   Pinnacle   –the   cream   of   the   crop Large   Regional   A National   A Large   Regional   B National   B Bank   of   North   Carolina 0% 40% 45% Client Penetration Excellent   Client   Satisfaction Small   Regional   A Small   Regional   B 75% 19 Note: Geographic segment used for Bank of North Carolina data is total North Ca rolina. A score of 1 re presents the highest rank ing among the peer group. Source: 2016 Greenwich Associates Mar ket Tracking Program (Bank of North Carolina - $1-500MM – Full Year 2016). Bank of North Carolina Performance Top Drivers of Overall Satisfaction Full Year 2016 Large Regional Bank A Ranking National Bank A Ranking Large Regional Bank B Ranking National Bank B Ranking Bank of North Carolina Overall Satisfaction 3425 1 (69%) Responsiveness and Prompt Follow-up on Requests 3425 1 (90%) Bank You Can Trust 3425 1 (88%) Ease of Doing Business 3425 1 (81%) Values Long-Term Relationships 3425 1 (79%) Likely to Recommend 3425 1 (76%) Extraordinary   Growth   Potential   on   the   Path   Forward North   Carolina’s   competitive   landscape   is   tailor   made   for   PNFP’s   strategy 20 21 Associate   engagement   at   BNC   is   “job   1” Extraordinary   Growth   Potential   on   the   Path   Forward • 234   former   BNC   Associates   have   attended   as   of   6/30 • Over   80%   of   all   retained   associates   will   attend   by   year   end • 85%   of   participants   gave   the   Pinnacle   orientation   a   top   box   rating!    22 BNC   associate   engagement   is   in   fact   occurring Extraordinary   Growth   Potential   on   the   Path   Forward “ The   whole   orientation   made   me   excited   about   being   an   employee   and   making   this   firm   successful!”“ Fantastic!    Definitely   has   aided   with   BNC   converting   to   the   Pinnacle   culture .” “ Rick   did   an   excellent   job   of   explaining   how   and   why   the   merger   with   Pinnacle   was   facilitated.    I   think   the   associates   will   be   better   equipped   to   talk   to   the   clients   in   BNC   markets   now   to   support   the   company   going   forward .” “ Just   flat ‐ out   excited.    Thanks !” “ It   is   evident   Terry   (and   the   entire   team)   live,   eat,   breathe   and   believe   in   the   values!” “ Best   2   day   training/orientation   I’ve   attended   in   33   years   of   banking!” “ Absolutely   excellent.    I   am   convinced   that   senior   management   is   sincere   and   dedicated.    They   practice   what   they   preach.” “Excited   to   take   this   back   to   my   team.    Amazed   the   CEO   spends   this   much   time   with   the   associates.”“ Loved   it   all.    Exactly   what   I   needed   to   understand   exactly   where   we   want   to   go   and   how   we   will   get   there .” Source: Associate surveys from PNFP’s 3-day Associate Orientation sessions 23 The   BNC   integration   overall   is   on ‐ track   and   highly   accretive Extraordinary   Growth   Potential   on   the   Path   Forward • Cultural   integration   is   well   underway • The   system   integration   schedule   has   been   expedited • ~   $40   million   in   cost   take ‐ outs   in   2018   are   still   on   track • Potential   revenue   synergies   are   meaningful • Hiring   thrust   is   strong   and   building Extraordinary   Growth   Potential   on   the   Path   Forward 24 High   growth   urban   markets   across   the   Southeast   provide   further   opportunity   De   novo   Sizing • Nashville,   Knoxville   experience – Approximately   $2.0   million   in   cumulative   losses   prior   to   break ‐ even   – Approximately   12 ‐ 18   months   to   break ‐ even • Key   management   with   capacity   to   build   $2.0   billion   bank   –no   LPO • 15 ‐ 20   associates   in   initial   hiring   phase M&A   Criteria • At   least   $1   billion   in   assets • Commercial   thrust • Management   continuation • Sustainable   core   profitability • Capacity   to   achieve   mass   in   market • 3 ‐ 5%   EPS   accretion   in   first   full   year 25 Opportunities   likely   exist   for   de   novo   or   merger   related   expansion Extraordinary   Growth   Potential   on   the   Path   Forward 26 PNFP   is   focused   on   rapid   growth   across   the   Southeast 1. Continuation   of   current   high   growth,   high   profit   plan 2. Explore   expansion   to   other   high   growth   southeastern   markets Long ‐ Term   Shareholder   Value Q&A   – Second Quarter 2017 Investor Call Supplemental   Information 28 Chart • Balance   Sheet 29      • Asset   Quality 36 • Income   Statement 40 • Pinnacle   Financial   Partners   profile     47 Balance   Sheet Supplemental   Information 29 Loan   portfolio   is   well   diversified 30 Amts. 2Q17 %’s(*) 2Q17 Amts. 1Q17 %’s(*) 1Q17 Amts. 2Q16 %’s(*) 2Q16 Amts. 2Q15 %’s(*) 2Q15 C&D and Land $1,772.8 12.0% $1,015.1 11.8% $816.7 11.5% $372.0 7.7% Consumer RE 2,552.9 17.3% 1,196.4 13.8% 1,068.6 15.1% 740.6 15.3% CRE – Owner Occ. 2,368.7 16.0% 1,399.5 16.2% 1,120.1 15.8% 807.0 16.7% CRE – Investment 3,357.1 22.8% 1,386.4 16.0% 1,066.6 15.0% 672.6 13.9% Other RE loans (Multi-Family) 661.6 4.5% 395.7 4.6% 280.5 4.0% 192.2 4.0% Total real estate 10,713.1 72.6% 5,393.1 62.4% 4,352.5 61.4% 2,784.4 57.6% C&I 3,688.4 25.0% 2,980.8 34.5% 2,492.0 35.1% 1,819.6 37.7% Other loans 357.3 2.4% 268.1 3.1% 246.9 3.5% 226.4 4.7% Total loans $14,758.8 100.0% $8,642.0 100.0% $7,091.4 100.0% $4,830.4 100.0% (*)   as   a   percentage   of   total   loans Balance   Sheet (*)   as   a   percentage   of   total   loans 31 Construction   portfolio   reflects   discipline Amounts 2Q17 %’s(*) 2Q17 Amts. 1Q17 %’s(*) 1Q17 Amts. 2Q16 %’s(*) 2Q16 Amts. 2Q15 %’s(*) 2Q15 Residential   –Spec $243.0 1.6% $200.7 2.3% $128.9 1.8% $48.4 1.0% Residential    –Custom 153.3 1.0% 96.9 1.1% 92.6 1.3% 44.9 0.9% Residential    – Condo 11.8 0.1% 5.6 0.1% 11.3 0.2% 3.3 0.1% Commercial   Construct. 894.9 6.1% 429.8 5.0% 319.5 4.5% 154.2 3.2% Land   Dev– Residential 182.7 1.2% 111.2 1.3% 80.3 1.1% 72.8 1.5% Land   Dev   – Commercial 186.6 1.3% 167.4 2.0% 181.8 2.6% 47.3 1.0% Land   Dev  ‐ BNC   Resi/Com.   Combined 54.9 0.4% ‐ ‐ ‐‐ ‐‐ Land   –Unimproved 45.6 0.3% 3.5 0.0% 2.2 0.0% 1.0 0.0% Total   C&D $1,772.8 12.0% $1,015.1 11.8% $816.6 11.5% $371.9 7.7% Balance   Sheet Balance   Sheet The   C&I   loan   portfolio   is   highly   diversified 32 NAICS   Sector Description 2Q17 1Q17 2Q16 Accommodation   and   Food   Services   3.75% 3.90% 3.91% Admin.   and   Support   and   Waste   Mgmt &   Remediation 2.54% 2.69% 2.83% Agriculture,   Forestry,   Fishing   and   Hunting   0.18% 0.12% 0.11% Arts,   Entertainment,   and   Recreation   1.43% 1.77% 1.13% Construction   5.52% 4.40% 4.51% Consumer   8.45% 6.09% 7.01% Educational   Services   2.19% 1.72% 1.73% Finance   and   Insurance   11.34% 11.65% 10.03% Health   Care   and   Social   Assistance   11.15% 11.40% 13.56% Information   3.68% 4.38% 2.05% Management   of   Companies   and   Enterprises   0.57% 0.53% 0.22% Manufacturing   8.15% 7.59% 7.36% Mining,   Quarrying,   and   Oil   and   Gas   Extraction   0.30% 0.31% 0.01% Other   Services   (except   Public   Administration)   2.34% 2.21% 2.29% Professional,   Scientific,   and   Technical   Services   4.37% 4.72% 3.40% Public   Administration   2.58% 2.95% 3.22% Real   Estate   and   Rental   and   Leasing   9.82% 10.27% 11.59% Retail   Trade   6.79% 8.20% 8.13% Transportation   and   Warehousing   6.37% 6.67% 8.03% Utilities   0.09% 0.04% 0.05% Wholesale   Trade   8.38% 8.38% 8.83% Total   C&I   Portfolio   100.00% 100.00% 100.00% Balance   Sheet 33 PNFP   remains   focused   on   relationship   funding 6/30/2017 Percent 12/31/2016 Percent Core   Funding: Non ‐ interest   bearing   deposits $3,893,603 22.70% $2,399,191 24.99% Interest ‐ bearing   deposits 2,480,791 14.46% 1,737,996 18.10% Money   Market   accounts 5,891,973 34.35% 3,185,186 33.17% Time   deposits   less   than   $250,000 1,263,030 7.36% 512,599 5.34% Total   Core   Funding 13,529,398 78.87% 7,834,973 81.60% Relationship   based   non ‐ core   funding: Reciprocal   NOW   deposits 50,451 0.29% 70,336 0.73% Reciprocal   MMDA   deposits 767,994 4.48% 529,744 5.52% Time   deposits Reciprocal   time   deposits 113,161 0.66% 58,838 0.61% Other   time   deposits 382,698 2.23% 198,689 2.07% Securities   sold   under   agreements   to   repurchase 205,008 1.20% 85,707 0.89% Total   relationship   based   non ‐ core   funding 1,519,312 8.86% 943,314 9.82% Wholesale   funding: Brokered   deposits 913,773 5.33% 66,727 0.69% FHLB   advances 725,230 4.23% 406,304 4.23% Sub   Debt   and   other   funding 465,419 2.71% 350,768 3.65% Total   wholesale   funding 2,104,423 12.27% 823,799 8.58% Total   non ‐ core   funding 3,623,735 21.13% 1,767,113 18.40% Totals $17,153,133 100.00% $9,602,086 100.00% 34 Balance   Sheet The   securities   book   yields   increase   in   2Q17 3.58% 2.51% 20.75% 13.49% 0.00%5.00%10.00%15.00%20.00%25.00%30.00%35.00%40.00% 0.00%0.50%1.00%1.50%2.00%2.50%3.00%3.50%4.00% Bond   Yields %   of   Avg.   Assets Conservative   bond   portfolio Balance   Sheet 35 Portfolio:    June   30,   2017 Total   Investments   $2.448   billion Unrealized   Gain   (Loss) $   (9.7)   million QTD   Purchases $   275.0   million QTD   Sales $       2.1    million Duration         Avg   Yield   –TE 2Q17                       3.3%                         2.5% 1Q17                       3.4%                         2.4% 4Q16 3.2% 2.3% 3Q16 2.8% 2.3% 2Q16 2.4% 2.5% 1Q16 2.7% 2.6% 4Q15                       3.0% 2.5%   0.0% 2.7% 59.1% 7.8% 7.8% 22.6% Agency Corporates MBS Asset   Backed CMOs Municipals As   of 6/30/2017 Book   Yield Effective   Duration Agency 1.50% 2.42% Asset   Backed 2.63% .15% Corporates 4.68% 4.51% CMOs 1.97% 1.64% MBS 2.26% 3.29% Municipals 3.94% 5.01% Total 2.51% 3.34% ● Investment   portfolio   at   $2.448   billion,   up   $843    million   vs   Q1   due   primarily   to   acquisition   of   BNC ● Duration   steady   in   low   3%   range ● Investments   to   Total   Assets   of   11.7% Asset   Quality Supplemental   Information 36 37 Past   due   loans   remain   very   low (*) > 30 days past due(**) includes purchase credit impaired loans (000’s) June   30,   2017 As   a   %   of   total loans   Mar.   31,   2017 As   a   %   of   total loans   June   30, 2016 As   a   %   of   total loans   Past Due   Loans   (*) Nonaccrual loans** $17,602 0.12% $10,011 0.12% $9,689 0.14% Accruing   loans 28,893 0.20% 14,684 0.17% 23,731 0.33% Total   past due $46,495 0.32% $24,695 0.29% $33,420 0.47% Asset   Quality 38 NPLs   and   loans   >90   days   past   due   &   accruing   remain   very   low (000’s) PNFP   NPLs   and   >90   days June   30,   2017 As   a   %   of   total loans   Mar.   31,   2017 As   a   %   of   total loans   June   30,   2016 As   a   %   of   total loans   Const.   and   land   development $3,873 0.03% $4,112 0 .05% $7,112 0.10% Consumer   RE 18,564 0.13% 8,857 0.10% 8,062 0.11% CRE   –Owner   Occupied 5,545 0.04% 3,401 0.04% 4,663 0.07% CRE   – Investment 4,571 0.03% 649 0.01% 521 0.01% Total   real   estate 32,553 0.23% 17,019 0 .20% 20,358 0.29% C&I 8,280 0.06% 7,258 0.08% 11,918 0.17% Other 1,076 0.01% 1,884 0.02% 3,133 0.04% Total   loans $41,909 0.30% $26,161 0.30% $35,409 0.50% NPLs   Expressed   as   a   %   of   Total   Loans   within   each   Category Asset   Quality 39 Asset   Quality   Classified   assets   remain   low (in   thousands) Balances   June   30,   2017 Balances   Dec.   31,   2016 Balances   June   30,   2016 Classified   loans   and   ORE: ‐ Substandard   commercial   loans $230,216 $148,460 $132,579 ‐ Doubtful   commercial   loans 832 1 87 ‐ Other   impaired   loans 19,854 9,820 11,398 ‐ 90   days   past   due   and   accruing   (*) 1,691 1,134 1,623 ‐ Other   real   estate 24,806 6,090 5,006 ‐ Other   repossessed   assets 348 ‐ 177 Total $277,747 $165,505 $150,870 Pinnacle   Bank   classified   asset   ratio 14.2% 16.4% 19.3% (*) Includes loans 90 days past due and accruing not included elsewhere Income   Statement Supplemental   Information 40 Income   Statement Mortgage   volumes   strong   in   2Q17 41 0.00%1.00%2.00%3.00%4.00%5.00%6.00% 0 50,000 100,000150,000200,000250,000   Purchase   Money Refinance Gross   fees   as   a   %   of   loans   originated Income   Statement 42 2Q17 1Q17 4Q16 3Q16 2Q16 Net   interest   income $106,627 $88,767 $89,413 $86,635 $75,044 Total   noninterest   income $35,057 $30,382 $30,743 $31,692 $32,713 Less:    Securities   gains  ‐‐ (395) ‐‐ Noninterest   income,   excluding   investment   gains   on   sales   of   securities,   net $35,057 $30,382 $30,347 $31,692 $32,713 Total   noninterest   expense $71,798 $62,054 $62,765 $63,526 $55,931 Less:   ORE   expenses 63 252 44 17 222 Merger ‐ related   charges 3,221 672 3,264 5,672 980 Noninterest   expense,   excluding   the   impact   of   ORE   expense   and   merger ‐ related   charges $68,514 $61,130 $59,457 $57,837 $54,729 Adjusted   pre ‐ tax   pre ‐ provision   income $73,170 $58,019 $60,304 $60,490 $53,028 Efficiency   ratio 50.7% 52.1% 52.2% 53.7% 51.9% Adjustment   due   to   securities   gains,   ORE   expense   and   merger ‐ related   charges   (2.3%) (0.8%) (2.6%) (4.8%) (1.1%) Core   Efficiency   ratio** 48.4% 51.3% 49.6% 48.9% 50.8% Reconciliation   of   Non ‐ GAAP   measures **:   Excluding   ORE   expense,   merger ‐ related   charges   and   securities   gains   and   losses Income   Statement 43 2Q17 1Q17 4Q16 3Q16 2Q16 Total   non ‐ interest   income $35,057 $30,382 $30,743 $31,692 $32,713 Less:    Securities   gains   ‐‐ (395) ‐‐ Noninterest   income,   excluding    the   impact   of   net   gains   on   sale   of   investment   securities $35,057 $30,382 $30,347 $31,692 $32,713 Total   noninterest   expense $71,798 $62,054 $62,765 $63,526 $55,931 Less:   ORE   expenses 63 252 44 17 222 Merger ‐ related   charges 3,221 672 3,264 5,672 980 Noninterest   expense,   excluding   ORE   expense   and   merger ‐ related   charges $68,514 $61,130 $59,457 $57,837 $54,728 Adjusted   pre ‐ tax   pre ‐ provision   income $73,170 $58,019 $60,304 $60,490 $53,028 Total   Assets   (Quarterly   Average) $13,335,359 $11,421,654 $11,037,557 $10,883,546 $9,305,941 Noninterest   income/   Average   assets 1.05% 1.08% 1.11% 1.16% 1.41% Adjustment   due   to   gains   on   sale   of   investment   securities   ‐‐‐‐‐ Noninterest   income,   excluding   the   impact   of   net   gains   on   sale   of   investment   securities/Average   Assets 1.05% 1.08% 1.11% 1.16% 1.41% Noninterest   expense/   Average   assets 2.16% 2.20% 2.26% 2.32% 2.42% Adjustment   due   to   ORE   expense   and   merger ‐ related   charges (0.10%) (0.03%) (0.12%) (0.21%) (0.05%) Noninterest   expense,   excluding   ORE   expense   and   merger ‐ related   charges/   Average   Assets 2.06% 2.17% 2.14% 2.11% 2.37% Reconciliation   of   Non ‐ GAAP   measures Income   Statement 44 2Q17 1Q17 4Q16 3Q16 2Q16 Net   income $43,086 $39,653 $36,097 $32,376 $30,787 Merger ‐ related   charges 3,221 672 3,264 5,672 980 Tax   effect   on   merger ‐ related   charges (1,264) (264) (1,281) (2,225) (385) Net   income   less   merger ‐ related   charges $45,043 $40,061 $38,080 $35,823 $31,382 Basic   earnings   per   share   $0.81 $0.83 $0.79 $0.71 $0.75 Adjustment   to   basic   earnings   per   share   due   to   merger ‐ related   charges 0.04 0.01 0.05 0.08 0.01 Basic   earnings   per   share   excluding   merger ‐ related   charges   $0.85 $0.84 $0.84 $0.79 $0.76 Diluted   earnings   per   share $0.80 $0.82 $0.78 $0.71 $0.73 Adjustment   to   diluted   earnings   per   share   due   to   merger ‐ related   charges 0.04 0.01 0.05 0.07 0.02 Diluted   earnings   per   share   excluding   merger ‐ related   charges $0.84 $0.83 $0.83 $0.78 $0.75 Book   value   per   share $46.56 $34.61 $32.28 $31.97 $29.92 Adjustment   due   to   goodwill,   core   deposit   and   other   intangible   assets (23.98) (11.36) (12.22) (12.28) (10.34) Tangible   book   value   per   share $22.58 $23.25 $20.06 $19.69 $19.58 Reconciliation   of   Non ‐ GAAP   measures Income   Statement 45 Reconciliation   of   Non ‐ GAAP   measures 2Q17 1Q17 4Q16 3Q16 2Q16 Net   income $43,086 $39,653 $36,097 $32,376 $30,787 Merger ‐ related   charges 3,221 672 3,264 5,672 980 Tax   effect   on   merger ‐ related   charges (1,264) (264) (1,281) (2,225) (385) Net   income   less   merger ‐ related   charges $45,043 $40,061 $38,080 $35,823 $31,382 Average   stockholders’   equity $2,057,505 $1,723,075 $1,493,684 $1,442,440 $1,247,762 Less:     Average   goodwill (760,646) (551,548) (551,042) (541,153) (431,155) Average   core   deposit   and   other   intangible   assets (23,957) (14,674) (15,724) (11,296) (9,367) Net   average   tangible   common   equity $1,272,902 $1,090,850 $926,918 $889,991 $807,240 Return   on   average   common   equity 8.40% 9.70% 9.61% 8.93% 9.92% Adjustment   due   to   goodwill,   core   deposit   and   other   intangible   assets 5.18% 5.04% 5.88% 5.54% 5.42% Return   on   average   tangible   common   equity 13.58% 14.74% 15.49% 14.47% 15.34% Adjustment   due   to   merger   related   charges 0.61% 0.15% 0.85% 1.54% 0.30% Return   on   average   tangible   common   equity   (excluding   merger ‐ related   charges)   14.19% 14.89% 16.34% 16.01% 15.64% Total   average   assets $13,335,359 $11,421,654 $11,037,555 $10,883,546 $9,305,941 Income   Statement 46 Reconciliation   of   Non ‐ GAAP   measures 2Q17 1Q17 4Q16 3Q16 2Q16 Net   income $43,086 $39,653 $36,097 $32,376 $30,787 Merger ‐ related   charges 3,221 672 3,264 5,672 980 Tax   effect   on   merger ‐ related   charges (1,264) (264) (1,281) (2,225) (385) Net   income   less   merger ‐ related   charges $45,043 $40,061 $38,080 $35,823 $31,382 Average   assets $13,335,359 11,421,654 11,037,555 10,883,547 9.305.941 Less:     Average   goodwill (760,646) (551,548) (551,042) (541,153) (431,155) Average   core   deposit   and   other   intangible   assets (23,957) (14,674) (15,724) (11,296) (9,367) Net   average   tangible   assets $12,550,756 10,855,432 10,470,789 10,331,098 8,665,419 Return   on   average   assets 1.30% 1.41% 1.30% 1.18% 1.33% Adjustment   due   to   goodwill,   core   deposit   and   other   intangible   assets 0.08% 0.06% 0.08% 0.08% 0.06% Return   on   average   tangible   assets 1.38% 1.47% 1.38% 1.26% 1.39% Adjustment   due   to   merger   related   charges 0.06% 0.01% 0.08% 0.13% 0.03% Return   on   average   tangible   assets   (excluding   merger ‐ related   charges)   1.44% 1.48% 1.46% 1.39% 1.42% Total   average   assets $13,335,359 $11,421,654 $11,037,555 $10,883,546 $9,305,941 Pinnacle   Financial   Partners   Profile Supplemental   Information 47 PNFP   Profile 48 Nashville ‐ Davidson ‐ Rutherford   MSA Knoxville MSA Top   10   Market   Share   Rank Holding Company Market Share 6/30/16 Market   Share 6/30/00   (1) Change in   Share Top   10   Market   Share   Rank Holding Company Market Share 6/30/16 Market   Share 6/30/07   (1) Change in   Share 3 Pinnacle   Financial   Partners   11.81% 1.74% 10.07% 6 Pinnacle   Financial   Partners   5.26% 0.03% 5.23% 6 Franklin Financial   Network   Inc. 4.53% ‐ 4.53% 7Bank   of   America   Corp. 3.80% 2.00% 1.80% 1 Bank   of   America   Corp 16.13% 14.59% 1.54% 10 Mountain   Commerce   Bancorp,   Inc. 1.78% 0.00% 1.78% 5FirstHorizon   National   Corp. 6.51% 5.13% 1.38% 1 SunTrust Banks   Inc. 17.86% 16.19% 1.67% 8 Wilson Bank   Holding   Co. 3.30% 2.34% 0.96% 9Clayton   HC   Inc. 2.32% 1.10% 1.22% 10 Wells Fargo   &   Co. 2.80% 2.05% 0.75% 5 BB&T   Corp. 6.46% 6.19% 0.27% 9 Fifth Third   Bancorp 2.91% 2.29% 0.62% 4Home   Federal   Bank   of   TN   9.91% 10.87% (0.96%) 7U.S.Bancorp 3.52% 7.35% (3.83%) 8United   Community   Banks   Inc. 2.80% 5.30 (2.50%) 4 SunTrust Banks   Inc. 11.43% 18.60% (7.17%) 2First   Horizon 16.14% 19.11% (2.97%) 2 Regions Financial   Corp. 13.88% 29.06% (15.18%) 3Regions   13.58% 18.25 (4.67%) Other   23.18% 16.87% 6.31% Other   20.09% 19.03% 1.06% Total 100% 100% Total 100% 100% PNFP   has   a   track   record   for   “ best ‐ in ‐ market ”   share   movement Source:   SNL   Financial;   Amounts   reflect   aggregation   of   banks   merged   prior   to   6/30/16. (1) :   First   year   Pinnacle’s   deposits   were   reflected   in   FDIC   Summary   of   Deposits   data.   Market   share   at   6/30/00   for   Nashville   reflects   impact   of   Cavalry   Bancorp,   Inc.   which   was   acquired   by   Pinnacle   in   March   of   2006.   Market   share   at   6/30/16   is   pro ‐ forma   for   inclusion   of   Avenue   Financial   Holdings,   Inc.    which   was   acquired   by   Pinnacle   July   1,   2016. PNFP   Profile 49 Chattanooga   TN ‐ GA   MSA Memphis, TN ‐ MS ‐ AR   MSA Top   10   Market   Share   Rank Holding Company Market Share 6/30/16 Market Share 6/30/15 (1) Change in   Share Top   11 Market   Share   Rank Holding Company Market Share 6/30/16 Market Share 6/30/15 (1) Change   in   Share 7 FB   Financial Corporation 3.44% 0.00% 3.44% 1First   Horizon   National Corp. 33.13% 29.87% 3.26% 10 Atlantic   Capital   Bancshares,   Inc. 3.23% 0.00% 3.23% 4 Bank   of   America   Corp. 4.39% 4.10% 0.29% 4 Pinnacle   Financial   Partners 6.56% 3.75% 2.81% 6 Independent   Holdings   Inc. 3.02% 2.83% 0.19% 1FirstHorizon   National   Corp. 24.61% 23.46% 1.15% 10 Wells   Fargo   &   Co. 1.85% 1.72% 0.13% 6Bank   of   America   Corp. 4.34% 3.75% 0.59% 8 Metropolitan   BancGroup Inc. 2.11% 1.98% 0.13% 9 Sequatchie   Valley   Bancshares   Inc. 3.30% 3.27% 0.03% 9 Landmark   Community   Bank 2.11% 2.04% 0.07% 5First   Volunteer   Corp. 4.58% 4.74% (0.16%) 11 Pinnacle   Financial   Partners 1.68% 1.65% 0.03% 8 SmartFinancial Inc. 3.35% 3.68% (0.33%) 5 BancorpSouth Inc. 3.34% 3.36% (0.02%) 2 SunTrust Banks   Inc. 18.06% 13.13% (0.34%) 7 Trustmark   Corp. 2.44% 2.85% (0.41%) 3Regions   Financial   Corp. 12.79% 19.42% (1.36%) 2 Regions   Financial   Corp. 14.33% 16.14% (1.81%) Other   15.74% 24.80% (9.06%) 3 SunTrust   Banks   Inc. 7.73% 10.20% (2.47%) Total 100% 100% Other   23.87% 22.08% 1.79% Total 100% 100% PNFP   has   a   track   record   for   “best ‐ in ‐ market”   share   movement Source:   SNL   Financial;   Amounts   reflect   aggregation   of   banks   merged   prior   to   2016.   (1) :   Market   share   at   6/30/15   for   Chattanooga   and   Memphis   reflects   impact   of   the   recently   completed   acquisitions   of   CapitalMark Bank   &   Trust   and   Magna   Bank,   respectively.   Second   Quarter   2017 Investor   Call M.   Terry   Turner,   President   and   CEO Harold   R.   Carpenter,   EVP   and   CFO July   19,   2017

Expansion into Memphis, TN Acquisition of Magna Bank & Memphis Lift Out M. Terry Turner, President and CEO Harold R. Carpenter, EVP and CFO April 29, 2015 Safe Harbor Statement 2 All statements, other than statements of historical fact included in this presentation, are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The words "expect," "anticipate," "intend," "plan," "believe," "seek," "estimate" and similar expressions are intended to identify such forward-looking statements, but other statements not based on historical information may also be considered forward-looking including statements about the benefits to Pinnacle Financial Partners, Inc. (“Pinnacle”) of the proposed mergers of Pinnacle Bank with Magna Bank (“Magna”) and CapitalMark Bank & Trust (“CapitalMark”), Pinnacle’s future financial and operating results (including the anticipated impact of the mergers of Pinnacle Bank and Magna (the “Magna Merger”) and Pinnacle Bank and CapitalMark (the “CapitalMark Merger” and together with the Magna Merger, the “Mergers”) on Pinnacle’s earnings, capital ratios and tangible book value) and Pinnacle's plans, objectives and intentions. All forward-looking statements are subject to risks, uncertainties and other facts that may cause the actual results, performance or achievements of Pinnacle to differ materially from any results expressed or implied by such forward-looking statements. Such factors include, among others, (1) the risk that the cost savings and any revenue synergies from the Mergers may not be realized or take longer than anticipated to be realized, (2) disruption from the Mergers with customers, suppliers or employee relationships, (3) the occurrence of any event, change or other circumstances that could give rise to the termination of either of the merger agreements related to the Mergers, (4) the risk of successful integration of Pinnacle’s business with the business of Magna and CapitalMark, (5) the failure of Magna’s or CapitalMark’s shareholders to approve the Mergers, (6) the amount of the costs, fees, expenses and charges related to the Mergers, (7) the ability to obtain required governmental approvals of the proposed terms of the Mergers, (8) reputational risk and the reaction of the parties’ customers to the proposed Mergers, (9) the failure of the closing conditions for either of the Mergers to be satisfied, (10) the risk that the integration of Magna’s or CapitalMark’s operations with Pinnacle’s will be materially delayed or will be more costly or difficult than expected, (11) the possibility that the Mergers may be more expensive to complete than anticipated, including as a result of unexpected factors or events, (12) the dilution caused by Pinnacle’s issuance of additional shares of its common stock in the Mergers and (13) general competitive, economic, politics of and market conditions. Additional factors which could affect the forward looking statements can be found in Pinnacle’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K filed with or furnished to the Securities and Exchange Commission (the “SEC”) and available on the SEC's website at http://www.sec.gov. Pinnacle, Magna and CapitalMark disclaim any obligation to update or revise any forward-looking statements contained in this presentation which speak only as of the date hereof, whether as a result of new information, future events or otherwise. Additional Information and Where to Find It In connection with the proposed mergers of Pinnacle Bank and Magna and Pinnacle Bank and CapitalMark, Pinnacle intends to file registration statements on Form S-4 with the SEC to register the shares of Pinnacle common stock that will be issued to Magna’s and CapitalMark’s shareholders in connection with the Mergers. The registration statements will include a proxy statement/prospectus (that will be delivered to Magna’s and CapitalMark’s shareholders, as applicable, in connection with their required approval of the proposed Mergers) and other relevant materials in connection with the proposed merger transaction involving Pinnacle Bank and each of Magna and CapitalMark. INVESTORS AND SECURITY HOLDERS ARE ENCOURAGED TO READ THE APPLICABLE PROXY STATEMENT/PROSPECTUS WHEN IT BECOMES AVAILABLE AND ANY OTHER RELEVANT DOCUMENTS TO BE FILED WITH THE SEC IN CONNECTION WITH THE PROPOSED MERGERS BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT PINNACLE, MAGNA, CAPITALMARK AND THE PROPOSED MERGERS. Investors and security holders may obtain free copies of these documents once they are available through the website maintained by the SEC at http://www.sec.gov. Free copies of the proxy statement/prospectus also may be obtained by directing a request by telephone or mail to Pinnacle Financial Partners Inc., 150 3rd Avenue South, Suite 980, Nashville, TN 37201, Attention: Investor Relations (615) 744-3742 or Magna, 6525 Quail Hollow Drive, Suite 513, Memphis, TN 38120, Attention: Shareholder Services (901) 259-5600 or CapitalMark, 801 Broad Street, Chattanooga, TN 37402, Attention: Investor Relations (423) 386-2828. This communication shall not constitute an offer to sell or the solicitation of an offer to buy securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. Pinnacle’s Focus is on Enhancing Shareholder Value 3 5-Year Horizon 2015 Progress 1.Expand CRE asset class   All four critical hires currently onboard 2.Expand to Tennessee’s other urban markets a)Chattanooga  b)Memphis  Negotiated acquisition of CapitalMark Negotiated acquisition of Magna Bank Lift out of 8 long-time Memphis commercial and private bankers provides ready made platform to grow a significant franchise in Memphis 3.Increase assets to > $10B  Post-merger assets projected at > $8B 4.Increased capital allocation to fee businesses that can drive shareholder value   Completed investment in BHG which is projected to yield 7 – 9% EPS accretion  PNFP Capital Markets leadership on board and expected to be operational in a few months after required regulatory approvals are secured 5.Continued focus on bottom line results   ROA of 1.45% - ROATE of 15.56% - Efficiency of 52.8%  Record quarterly earnings - $0.62 EPS in 1Q15 PNFP is working its long-term plan Pinnacle Has Targeted Four Urban Markets Memphis represents the final piece of the “puzzle” 1.First Horizon 2.Regions 3.SunTrust 1.Bank of America 2.Regions 3.SunTrust 1.First Horizon 2.SunTrust 3.Regions 1.First Horizon 2.SunTrust 3.Regions 4 Significant Regional Bank Competitors Magna Transaction Rationale 5 •Magna Bank is the ideal merger partner for PNFP in the Memphis market −Acquisition provides scalable platform to launch a valuable Memphis growth strategy −Growing emphasis on commercial banking driven by client focus −Consistent balance sheet growth combined with strong asset quality and improving profitability −Q1’15 – 1.01% ROAA & Net income growth 33.0% 1Q15 to 1Q14 −Long-time Memphis business leadership in Magna management and board •Magna’s market share positions Pinnacle to attack the same vulnerable regional banks −4 th in Nashville −4 th in Chattanooga −6 th in Knoxville −12 th in Memphis •Attractive financial impact −$8+ billion in pro forma total assets, inclusive of CapitalMark Bank & Trust −Accretive to first twelve month earnings; approximately 5% long-term EPS accretion (1) −Accretive to tangible book value at closing (1) (1) Accretion/Dilution inclusive of financial impact of previously announced acquisition of CapitalMark Bank & Trust Magna Transaction Structure 6 Consideration •75% stock / 25% cash consideration •$18.8 million cash •Approximately 1,325,000 PNFP shares ($62.1 million) •Magna Bank outstanding options cashed out at closing at $14.32 per share •SBLF redemption of $18.35 million at closing Transaction Value (1) •$15.41 per share; $82.8 million in the aggregate •Price / Q1 ’15 Tangible Book Value: 156% •Price / LTM EPS: 15.5x (1) Based on Magna’s 5.2 million common shares outstanding, 0.3 million options with a WAEP of $8.36 and PNFP’s 10-day average closing stock price of $46.83 as of April 28, 2015. Assumes all stock options are cashed out at closing. Magna Leadership •Kirk Bailey – President and CEO, Lisa Foley – EVP Retail Banking Mgr., Lisa Reid – EVP and Mortgage Division Mgr. and Frank Stallworth – EVP and Commercial Banking Mgr. •1 Board Seat – Thomas Farnsworth Expected Closing •September 30, 2015 •Customary regulatory and Magna shareholder approvals required •PNFP shareholder approval is not required •Systems conversions anticipated in 4Q15 (1) (1) 7 Source: SNL Financial Note: Financial data as of December 31, 2014 per Call Reports; excludes purchase accounting adjustments Magna’s loan mix highlights its commercial real estate expertise Commercial Real Estate Emphasis Matches PNFP Strategy Pinnacle Financial Partners, Inc.CapitalMark Bank & TrustMagna Bank Combined (1) Loans ($000)Loans ($000)Loans ($000)Loans ($000) Cons tructi on & Land 322,4667.0% Cons tructi on & Land 65,8799.2% Cons tructi on & Land 58,72612.9% Cons tructi on & Land 447,0717.7% 1-4 Fami l y 723,21215.7% 1-4 Fami l y 128,89618.0% 1-4 Fami l y 153,75133.7% 1-4 Fami l y 1,005,85917.4% Mul ti fami l y 183,1264.0% Mul ti fami l y 24,8563.5% Mul ti fami l y 2,7460.6% Mul ti fami l y 210,7283.6% CRE - Income Produci ng 596,44613.0% CRE - Income Produci ng 133,51818.6% CRE - Income Produci ng 110,93324.4% CRE - Income Produci ng 840,89714.6% CRE - Owner Occupi ed 764,51916.6% CRE - Owner Occupi ed 167,53223.3% CRE - Owner Occupi ed 24,6865.4% CRE - Owner Occupi ed 956,73716.6% C&I 1,773,96038.5% C&I 184,56325.7% C&I 74,70016.4% C&I 2,033,22335.2% Cons umer & Other 240,3375.2% Cons umer & Other 12,6831.8% Cons umer & Other 30,0216.6% Cons umer & Other 283,0414.9% 4,604,066100.0%717,927100.0%455,563100.0%5,777,556100.0% C&I + Owner-Occupied CRE55.1%C&I + Owner-Occupied CRE49.0%C&I + Owner-Occupied CRE21.8%C&I + Owner-Occupied CRE51.8% Total Commercial Loans68.1%Total Commercial Loans67.6%Total Commercial Loans46.2%Total Commercial Loans66.3% 7.0% 15.7% 4.0% 13.0% 16.6% 38.5% 5.2% 9.2% 18.0% 3.5% 18.6% 23.3% 25.7% 1.8% 7.7% 17.4% 3.6% 14.6% 16.6% 35.2% 4.9% 12.9% 33.7% 0.6% 24.4% 5.4% 16.4% 6.6% 8 Source: SNL Financial; Company Documents Note: Financial data as of December 31, 2014; excludes purchase accounting adjustments Magna’s deposit mix highlights focus on transaction and MMA’s Deposit Funding Similar to CapitalMark Pinnacle Financial Partners, Inc.CapitalMark Bank & TrustMagna Bank Combined (1) Deposits ($000)Deposits ($000)Deposits ($000)Deposits ($000) Non-Interes t Beari ng 1,321,05327.6% Non-Interes t Beari ng 150,82519.3% Non-Interes t Beari ng 50,15711.5% Non-Interes t Beari ng 1,522,03525.4% Int. Beari ng Trans & Svgs . 3,030,40963.4% Int. Beari ng Trans & Svgs . 423,98754.3% Int. Beari ng Trans & Svgs . 261,56360.0% Int. Beari ng Trans & Svgs . 3,715,95961.9% Ti me Depos i ts 431,1439.0% Ti me Depos i ts 205,68826.4% Ti me Depos i ts 123,99328.5% Ti me Depos i ts 760,82412.7% 4,782,605100.0%780,500100.0%435,713100.0%5,998,818100.0% 27.6% 63.4% 9.0% 19.3% 54.3% 26.4% 25.4% 61.9% 12.7% 11.5% 60.0% 28.5% Comprehensive Due Diligence Overview 9 Key Focus Area Action Observation Risk Management •Key risk managers at Pinnacle participated in due diligence including CEO, CFO, CAO, CCO, CRM, etc. •Similar to Pinnacle EWRM practices Credit •Detail loan reviews on approximately 60% of loan portfolio. •Client selection process consistent. •No pro-forma loan concentration concerns. •Strong credit metrics Asset / Liability Sensitivity •Detail review of investment securities and various interest rate risk scenarios •Slightly asset sensitive and in good position with rising rates. Liquidity •Deposit book reviewed with emphasis on liquidity risk and deposit concentrations •Non core funding is higher than Pinnacle’s. •More emphasis on NOW accounts with behavioral pricing. Compliance •Compliance functions reviewed by Pinnacle EWRM manager and Chief Compliance Officer •Magna Bank has developed an effective compliance risk management infrastructure. IT & Operations •Pinnacle due diligence team gained meaningful understanding of IT and operational practices •No material findings that would delay the operational integration. Personnel Practices and Policies •Pinnacle due diligence team gained understanding of personnel practices and policies •HR policies generally consistent with Pinnacle policies. •Benefits in the aggregate we believe will be positively received. Residential Mortgage Servicing •Mortgage program reviewed by Pinnacle Secondary Market Mortgage manager, EWRM manager and Chief Compliance Officer. •Resource and systems enhancements probable. •Will evaluate portfolio size and operations scale. Magna Key Transaction Assumptions 10 Purchase Accounting Adjustments •Mark to loan portfolio of approximately $4.8 million, net of reserves •Mark to OREO of 25% •Core deposit intangible of 1.5% amortized straight-line over 8 years Cost Savings •25% cost savings −Branches located in key locations along Poplar Avenue corridor in East Memphis and Germantown – no branch closures anticipated −Approximately 75% phase-in for FY 2016; 100% thereafter Merger Related Expenses •Approximately $4.4 million after-tax Revenue Opportunities •Although no revenue synergies are contemplated in merger model, •CRE loan origination and servicing present meaningful growth opportunity •Leverage residential mortgage platform across Pinnacle footprint Magna Financial Impact 11 EPS Impact •~3.4% accretive in 2016 •~4.4% accretive in 2017 Tangible Book Value Impact •Neutral to tangible book value at close, accretive thereafter Pro Forma Capital •~8.5% TCE / TA •~10.0% Leverage Ratio •~11.5% Total Risk Based Capital IRR •In excess of 30% at 16x terminal value Based on Magna’s 5.2 million common shares outstanding, 0.3 million options with a WAEP of $8.36 and PNFP’s 10-day average closing stock price of $46.83 as of April 28, 2015. Assumes all stock options are cashed out at and anticipated closing date of Sept. 30, 2015. Inclusive of impact of CapitalMark Bank and Trust merger. Memphis Lift Out 12 Experienced Banking Professionals Pinnacle Work Plan •Regulatory notices filed •Work space in Memphis being finalized •Client accounts will be loaded onto Pinnacle systems Pro Forma Financial Information •Anticipate $250 million in loans and $175 million in deposits by EOP 2017 •Anticipate 1% - 2% dilutive in 2015; essentially breakeven in 2016 and > 2% accretive in 2017 Financial Goal •$2.5 billion franchise in Memphis over the long-term •Damon Bell – Previously led FHN’s private banking groups in Memphis. Will become Pinnacle’s Memphis President and join Pinnacle’s leadership team. •7 other Memphis banking professionals with an average experience of 19.4 years in commercial and private banking PNFP Shareholder Value Grows in Memphis 13 •PNFP working its long-term plan •Memphis represents the final piece of the market expansion puzzle •Magna Bank is the ideal platform for PNFP to launch its Memphis franchise •Major lift out provides meaningful commercial thrust •Magna Bank merger is financially attractive to both shareholder groups •Memphis franchise offers significant revenue opportunities in C&I, CRE and affluent segments Appendix 14 •Overview of Magna Bank •Magna 5-year Financial Summary •Biographical Summaries •Memphis and Tennessee Market Demographics •Deposit Market Share – Tennessee •Deposit Market Share – MSAs Overview of Magna Bank 15 •Founded in 1999 •5 branches located in the final strategic Tennessee market untapped by PNFP •Experienced management team with extensive local relationships •Commercial business model with impressive non-interest income generation •Strong financial performance momentum Source: SNL Financial; Company Documents Memphis Chattanooga Knoxville Nashville PNFP CapitalMark Magna 5-Year Financial Summary 16 Source: SNL Financial, Company Documents Biographical Summaries 17 Mr. Bailey was born and raised in Memphis. He began a career in banking in 1980 with Leader Federal Bank for Savings. He ran subsidiary operations for Leader Federal including insurance, land development, home building and commercial development from 1980 until 1991. In 1991, Mr. Bailey assumed the presidency of Leader Federal Mortgage, Leader’s large and highly successful mortgage banking operation. In 1993, Mr. Bailey was named the Chief Operating Officer of Leader Federal, and was elected a director. Mr. Bailey remained in this position until Leader Federal merged with Union Planters National Bank in 1996. Mr. Bailey served as President and Chief Operating Officer of Union Planters of Memphis and was a director of the Bank until 1998. Mr. Bailey then helped form Magna Bank where he is Chairman of the Board and serves as President and Chief Executive Officer. He graduated in 1977 Magna Cum Laude from the University of Memphis where he was captain of the golf team. Mr. Bailey also received a PMD degree from Harvard Business School. Mr. Bailey is very active in industry and community affairs, currently serving on the boards of 3 local organizations, and has served in many capacities at Christ United Methodist Church. Kirk Bailey Chairman, President and Chief Executive Officer of Magna Bank Damon Bell recently joined Pinnacle to help launch the firm’s Memphis expansion. He began his 24-year career with First Tennessee in 1991 in the bank’s management training program. He held several positions at the company, and for the past 12 years has led First Tennessee's Memphis Private Banking, Medical Private Banking and Private Wealth Groups. Bell graduated from Memphis University School and received a bachelor’s degree with a major in banking and finance, from the University of Mississippi. He is active in the Memphis community and has served on the boards of The 100 Club of Memphis, Memphis Chrysalis Community, Opera Memphis, Le Bonheur Center for Children and Parents and The International Children's Heart Foundation. Bell has been involved with the United Way for many years and led First Tennessee's 2014 corporate campaign. He is an active member of St. John's Episcopal Church. Damon Bell Memphis President Lisa Foley Executive Vice President Ms. Foley is an executive vice president and retail banking division manager. Previously, she worked as the Memphis-area sales and marketing manager at SunTrust and was responsible for NBC-Memphis' retail branch network. Currently, she manages existing Magna Bank retail branches and expansion plans for new locations. Biographical Summaries 18 Mr. Farnsworth is the President of Farnsworth Investment Company, with which he has been associated since 1988. He has been heavily involved in commercial real estate development and leasing and has an in- depth knowledge of matters pertaining to financing such projects. Mr. Farnsworth is the Chairman of Loan Committee of Magna’s Board. Thomas C. Farnsworth, III President of Farnsworth Investment Company Mr. Stallworth is an executive vice president, responsible for commercial and multifamily real estate lending and mortgage banking division. Previously, he served as president of the western division of Central Park Capital, a nationwide commercial real estate lender. B. Frank Stallworth Executive Vice President Ms. Reid is an executive vice president and the mortgage division manager. Previously, Ms. Reid served for 20 years as the regional mortgage production manager for Leader Federal Bank for Savings. She also served as president of the Memphis Mortgage Bankers and president of the Tennessee Mortgage Bankers Association. Lisa Reid Executive Vice President Memphis serves as headquarters or major operations hub for a number of major companies •HQ for three Fortune 500 companies •Relatively low cost of doing business fosters an attractive business climate for both entrepreneurs and established companies •Significant corporations include: Memphis Market 19 Memphis is Tennessee’s 2 nd largest MSA as measured by both population and deposits Source: Company Documents, SNL Financial, Memphis Chamber of Commerce, U.S. Department of Labor, Bureau of Labor Statistics Diversified industry base •Transportation & logistics, paper products, healthcare & bioscience, arts & music •Employed workforce of 565,000 residents drives gross metro product (GMP) generation of approximately $68 billion Busiest cargo airport in North America 10 million tourists annually generating $3 billion for the local economy Economic Drivers Dynamic Corporate Environment Tennessee Market Demographics 20 Source: SNL Financial Note: Deposit data as of June 30, 2014 Tennessee Market Demographics 2015-2020Current2015-2020 TotalCurrentProjectedMedian HHProjected Median DepositsPopulationPopulation GrowthIncomeHH Income Growth Top 20 MSAs($mm)(000s)(%)($)(%) Nashville, TN$44,0711,8016.53$53,0227.12 Memphis, TN-MS-AR23,7221,3472.0847,6766.21 Knoxville, TN14,7488603.0944,8525.73 Chattanooga, TN-GA8,5055483.9246,4327.70 Ki ngs port-Bri s tol -Bri s tol , TN-VA4,2833091.0441,4489.72 Cl arks vi l l e, TN-KY3,2642753.9646,8428.76 Johns on Ci ty, TN2,7642022.2440,6946.44 Jacks on, TN2,0291311.9144,49010.79 Cleveland, TN1,5721203.7239,4365.46 Morri s town, TN1,4071162.2039,7943.72 Cookevi l l e, TN2,0391082.2934,1348.21 Tul l ahoma-Manches ter, TN1,4021012.1139,9002.43 Sevi ervi l l e, TN2,059955.3742,6981.77 Greenevi l l e, TN89068(0.27)35,8107.96 Cros s vi l l e, TN950583.8838,5093.61 Athens , TN853521.0439,5715.51 Shel byvi l l e, TN585463.4842,8699.97 Lawrenceburg, TN579420.9839,6068.59 McMi nnvi l l e, TN796401.6233,5344.45 Dyers burg, TN658380.8642,44912.26 Deposit Market Share – Tennessee 21 Source: SNL Financial, Company Documents Note: Loan and deposit data by MSA as of 3/31/2015 TennesseeJune '14 Total Market DepositsShare RankInstitution($mm)(%) 1Re gi ons Fi na nci a l Corp.17,31214.18 2Fi rs t Hori zon Na ti ona l Corp.16,05213.15 3SunTrus t Ba nks I nc.12,20210.00 4Ba nk of Ame ri ca Corp.8,2386.75 5Pro Forma5,8354.77 5Pinnacle Financial Partners4,6803.83 6U.S. Ba ncorp2,6222.15 7BB&T Corp.2,5002.05 8Fi rs t South Ba ncorp I nc.1,8441.51 9We l l s Fa rgo & Co.1,7901.47 10Home Fe de ra l Ba nk of Te nne s s e e1,6781.37 11Wi l s on Ba nk Hol di ng Compa ny1,6101.32 12Fi fth Thi rd Ba ncorp1,5551.27 13Si mmons Fi rs t Na ti ona l Corp.1,5551.27 14Ca pi ta l Ba nk Fi nl Corp1,3611.11 15Ba ncorpSouth I nc.1,1790.97 16Fi rs t Ci ti ze ns Ba ncs ha re s I nc.1,1770.96 17Fra nkl i n Fi na nci a l Ne twork I nc9920.81 18Cl a yton HC I nc.9760.80 19Fi rs t Fa rme rs Me rcha nts Corp.9670.79 20Ca pSta r Ba nk8710.71 Top 20 Institutions81,16166.47 24CapitalMark Bank & Trust (TN)7360.60% 49Magna Bank (TN)4200.34% 1Total For Institutions In Market122,070100.00% Deposit Market Share – MSAs 22 Source: SNL Financial Note: Deposit data as of June 30, 2014 Memphis, TN-MS-ARJune '14June '13 Total MarketMarket DepositsShareShare RankInstitution($mm)(%)(%) 1Fi rs t Hori zon Na ti ona l Corp.6,18226.0630.73 2Re gi ons Fi na nci a l Corp.4,35418.3616.82 3SunTrus t Ba nks I nc.2,0808.777.92 4Ba ncorpSouth I nc.9253.903.86 5Ba nk of Ame ri ca Corp.8183.453.21 6I nde pe nde nt Hol di ngs I nc.7343.093.05 7Trus tma rk Corp.6882.902.78 8Me tropol i ta n Ba ncGroup I nc.4962.091.65 9We l l s Fa rgo & Co.4762.011.93 10La ndma rk Communi ty Ba nk4441.871.46 11Tri umph Ba ncs ha re s I nc.4291.811.51 12Magna Bank4201.771.62 13Re na s a nt Corp.3981.681.76 14I BERI ABANK Corp.3351.411.22 15Fi rs t Ci ti ze ns Ba ncs ha re s I nc.3331.401.35 16We s t Te nne s s e e Ba ncs ha re s I nc.3111.311.33 17Ca rl s on Ba ncs ha re s I nc.2951.251.25 18Mos cow Ba ncs ha re s I nc.2551.081.03 19Se curi ty Ba ncorp of TN I nc.2441.031.01 20Fi na nci a l Fe dCorp I nc.2421.020.86 Top 20 Institutions20,46286.2686.35 1Total For Institutions In Market23,722100.00%100.00% Nashville-Davidson-Murfreesboro-Franklin, TNJune '14June '13 Total MarketMarket DepositsShareShare RankInstitution($mm)(%)(%) 1Ba nk of Ame ri ca Corp.6,74215.3016.04 2Re gi ons Fi na nci a l Corp.6,69415.1915.80 3SunTrus t Ba nks I nc. 5,45012.3711.87 4Pinnacle Financial Partners4,1249.368.85 5Fi rs t Hori zon Na ti ona l Corp. 2,9616.727.02 6U.S. Ba ncorp 1,5993.633.52 7Fi fth Thi rd Ba ncorp 1,4973.403.18 8Wi l s on Ba nk Hol di ng Compa ny 1,4943.393.42 9We l l s Fa rgo & Co. 1,3343.032.49 10Fra nkl i n Fi na nci a l Ne twork I nc 9922.251.88 11Ca pSta r Ba nk 8711.982.25 12Ave nue Fi na nci a l Hol di ngs I nc. 7851.781.63 13Fi rs t Fa rme rs Me rcha nts Corp. 7021.591.62 14Comme rce Uni on Ba ncs ha re s I nc. 5581.271.20 15Ca pi ta l Ba nk Fi nl Corp 5171.171.35 16Fi rs t South Ba ncorp I nc. 4881.111.09 17Fi rs t Fa rme rs Ba ncs ha re s I nc. 4711.071.08 18Re na s a nt Corp. 4661.060.77 19Communi ty Fi rs t I nc. 4090.931.05 20Vol unte e r Sta te Bcs hs I nc. 3900.880.83 Top 20 Institutions38,54487.4886.94 1Total For Institutions In Market44,071100.00%100.00% Deposit Market Share – MSAs 23 Source: SNL Financial Note: Deposit data as of June 30, 2014 Knoxville, TNJune '14June '13 Total MarketMarket DepositsShareShare RankInstitution($mm)(%)(%) 1Fi rs t Hori zon Na ti ona l Corp.2,72218.4619.39 2SunTrus t Ba nks I nc.2,38116.1415.39 3Re gi ons Fi na nci a l Corp.2,16314.6714.16 4Home Fe de ra l Ba nk of Te nne s s e e1,56610.6210.64 5BB&T Corp.1,1737.959.01 6Pro Forma6544.433.94 6Pinnacle Financial Partners5083.443.06 7Mone yTre e Corp.3192.162.13 8Ba nk of Ame ri ca Corp.2891.961.77 9Twi n Ci ti e s Fi nl Svcs I nc.2651.801.89 10Cl a yton HC I nc.2531.721.90 11Uni te d Communi ty Ba nks I nc.1871.271.32 12U.S. Ba ncorp1651.121.11 13Foothi l l s Ba nk & Trus t1651.120.98 14Ci ti ze ns of Gra i nge r Cnty Corp1591.081.07 15Ca pi ta l Ba nk Fi nl Corp1571.071.23 16Communi ty Trus t Ba ncorp I nc.1531.041.09 17TN Va l l e y Fi na nci a l Hl dgs I nc.1481.010.95 18CapitalMark Bank & Trust1460.990.88 19Mounta i n Comme rce Ba ncorp I nc.1290.880.59 20Robe rts on Hol di ng Co. L.P.1270.860.93 Top 20 Institutions12,66885.9293.43 1Total For Institutions In Market14,748100.00%100.00% Chattanooga, TN-GAJune '14June '13 Total MarketMarket DepositsShareShare RankInstitution($mm)(%)(%) 1Fi rs t Hori zon Na ti ona l Corp.2,06124.2324.36 2SunTrus t Ba nks I nc.1,59418.7418.41 3Re gi ons Fi na nci a l Corp.1,15513.5813.58 4CapitalMark Bank & Trust5116.015.68 5Fi rs t Vol unte e r Corp.4164.894.88 6Corne rs tone Ba ncs ha re s I nc.3323.904.03 7N W Se rvi ce s Corp.3073.614.17 8Se qua tchi e Va l l e y Bcs hs I nc.2783.273.23 9Fi rs t Se curi ty Group I nc.2753.233.42 10Ba nk of Ame ri ca Corp.2272.672.51 11La Fa ye tte Ba nks ha re s I nc.2082.442.46 12Communi ty Trus t & Ba nki ng Co.1151.351.38 13Synovus Fi na nci a l Corp.1141.341.23 14Ge ne ra l Ba ncs ha re s I nc.1111.301.25 15Communi ty Na ti ona l Ba nk1041.221.19 16Ca toos a Ba ncs ha re s I nc.971.141.16 17BB&T Corp.971.131.01 18We l l s Fa rgo & Co.901.061.08 19Se qua tchi e County Bncp I nc.820.971.01 20Tri -Sta te s Ba nks ha re s I nc.820.961.00 Top 20 Institutions8,25497.0497.04 1Total For Institutions In Market8,505100.00%100.00%

Pinnacle Financial Partners Announces Agreement to Acquire BNC Bancorp January 23, 2017 Forward Looking Statements All statements, other than statements of historical fact, included in this communication, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The words “expect,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “estimate” and similar expressions are intended to identify such forward-looking statements, but other statements not based on historical information may also be considered forward-looking including statements about the benefits to Pinnacle Financial Partners, Inc. (“Pinnacle Financial”) and BNC Bancorp (“BNC”) of the proposed merger, Pinnacle Financial’s and BNC’s future financial and operating results (including the anticipated impact of the merger on Pinnacle Financial’s and BNC’s earnings and tangible book value) and Pinnacle Financial’s and BNC’s plans, objectives and intentions. All forward-looking statements are subject to risks, uncertainties and other facts that may cause the actual results, performance or achievements of Pinnacle Financial and BNC to differ materially from any results expressed or implied by such forward-looking statements. Such factors include, among others: •deterioration in the financial condition of borrowers resulting in significant increases in loan losses and provisions for those losses; •continuation of the historically low short-term interest rate environment; •the inability of Pinnacle Financial, or entities in which it has significant investments, like Bankers Healthcare Group, LLC (“BHG”), to maintain the historical growth rate of its, or those entities’, loan portfolio; •changes in loan underwriting, credit review or loss reserve policies associated with economic conditions, examination conclusions, or regulatory developments; •effectiveness of Pinnacle Financial’s asset management activities in improving, resolving or liquidating lower-quality assets; •increased competition with other financial institutions; •greater than anticipated adverse conditions in the national or local economies including the Nashville-Davidson-Murfreesboro-Franklin Metropolitan Statistical Area, or MSA, the Knoxville MSA, the Chattanooga, TN-GA MSA and the Memphis, TN-MS-AR MSA, particularly in commercial and residential real estate markets; •rapid fluctuations or unanticipated changes in interest rates on loans or deposits; •the results of regulatory examinations; •the ability to retain large, uninsured deposits; •a merger or acquisition like the proposed merger with BNC; •risks of expansion into new geographic or product markets, like the proposed expansion into certain MSAs in the states of North Carolina, South Carolina and Virginia in connection with the proposed BNC merger; •any matter that would cause Pinnacle Financial to conclude that there was impairment of any asset, including intangible assets; •reduced ability to attract additional financial advisors (or failure of those advisors to cause their clients to switch to Pinnacle Bank), to retain financial advisors or otherwise to attract customers from other financial institutions; •further deterioration in the valuation of other real estate owned and increased expenses associated therewith; •inability to comply with regulatory capital requirements, including those resulting from changes to capital calculation methodologies and required capital maintenance levels; •risks associated with litigation, including the applicability of insurance coverage; •the risk that the cost savings and any revenue synergies from the proposed BNC merger and Pinnacle Financial’s recently completed mergers may not be realized or take longer than anticipated to be realized; •disruption from the proposed BNC merger with customers, suppliers or employee or other business partners relationships; •the occurrence of any event, change or other circumstances that could give rise to the termination of the merger agreement with BNC; •the risk of successful integration of BNC’s business and the businesses Pinnacle Financial recently acquired with Pinnacle Bank’s business; •the failure to obtain the necessary approvals from BNC’s or Pinnacle Financial’s shareholders in connection with the BNC merger; •the amount of the costs, fees, expenses and charges related to the BNC merger; •the ability to obtain required government approvals of the proposed terms of the BNC merger; •reputational risk and the risk of adverse reaction of our, Pinnacle Bank’s, BNC’s and BNC Bank’s customers suppliers, employees or other business partners to the proposed BNC merger; •the failure of the closing conditions of the BNC merger to be satisfied and any unexpected delay in closing the BNC merger; •the risk that the integration of our and BNC’s operations and the operations of the companies Pinnacle Financial recently acquired with Pinnacle Bank’s operations will be materially delayed or will be more costly or difficult than expected; •the possibility that the BNC merger may be more expensive to complete than anticipated, including as a result of unexpected factors or events; •the dilution caused by the issuance of additional shares of Pinnacle Financial’s common stock in the BNC merger or related to the BNC merger; •general competitive, economic, political and market conditions; •approval of the declaration of any dividend by Pinnacle Financial’s board of directors; •the vulnerability of Pinnacle Bank’s network and online banking portals to unauthorized access, computer viruses, phishing schemes, spam attacks, human error, natural disasters, power loss and other security breaches; •the possibility of increased compliance costs or modifications to Pinnacle Financial’s business plan or the business plan of entities in which Pinnacle Financial or Pinnacle Bank has made an investment as a result of increased regulatory oversight, including oversight of companies in which Pinnacle Financial or Pinnacle Bank has significant investments, and the development of additional banking products for Pinnacle Bank’s corporate and consumer clients; •the risks associated with Pinnacle Financial and Pinnacle Bank being a minority investor in BHG, including the risk that the owners of a majority of the membership interests in BHG decide to sell the company if not prohibited from doing so by the terms of Pinnacle Financial’s and Pinnacle Bank’s agreement with them; •the possibility that the incremental cost and/or decreased revenues associated with exceeding $10 billion in assets will exceed current estimates; and •changes in state and federal legislation, regulations or policies applicable to banks and other financial service providers (like BHG), including regulatory or legislative developments. Additional factors which could affect the forward looking statements can be found in Pinnacle Financial’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K, or BNC’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K, in each case filed with the SEC and available on the SEC’s website at http://www.sec.gov. Pinnacle Financial and BNC disclaim any obligation to update or revise any forward-looking statements contained in this presentation, which speak only as of the date hereof, whether as a result of new information, future events or otherwise. Safe Harbor Statements 2 Additional Information About the Proposed Transaction and Where to Find It Investors and security holders are urged to carefully review and consider each of Pinnacle’s and BNC’s public filings with the SEC, including but not limited to their Annual Reports on Form 10-K, their proxy statements, their Current Reports on Form 8-K and their Quarterly Reports on Form 10-Q. The documents filed by Pinnacle with the SEC may be obtained free of charge at Pinnacle’s website at www.pnfp.com, under the heading “About Pinnacle” and the subheading “Investor Relations,” or at the SEC’s website at www.sec.gov. These documents may also be obtained free of charge from Pinnacle by requesting them in writing to Pinnacle Financial Partners, Inc., 150 Third Avenue South, Suite 900, Nashville, Tennessee 37201, Attention: Investor Relations, or by telephone at (615) 744-3700. The documents filed by BNC with the SEC may be obtained free of charge at BNC’s website at www.bncbanking.com under the “Investor Relations” section, or at the SEC’s website at www.sec.gov. These documents may also be obtained free of charge from BNC by requesting them in writing to BNC Bancorp, 3980 Premier Drive, Suite 210, High Point, North Carolina 27265, Attention: Investor Relations, or by telephone at (336) 869-9200. In connection with the proposed transaction, Pinnacle intends to file a registration statement on Form S-4 with the SEC which will include a joint proxy statement of BNC and Pinnacle and a prospectus of Pinnacle, and each party will file other documents regarding the proposed transaction with the SEC. Before making any voting or investment decision, investors and security holders of BNC and Pinnacle are urged to carefully read the entire registration statement and joint proxy statement/prospectus, when they become available, as well as any amendments or supplements to these documents and any other relevant documents filed with the SEC, because they will contain important information about the proposed transaction. A definitive joint proxy statement/prospectus will be sent to the shareholders of each institution seeking the required shareholder approvals. Investors and security holders will be able to obtain the registration statement and the joint proxy statement/prospectus free of charge from the SEC’s website or from Pinnacle or BNC as described in the paragraphs above. This communication shall not constitute an offer to sell or the solicitation of an offer to buy securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. Participants in the Solicitation Pinnacle, BNC, and certain of their directors and executive officers may be deemed participants in the solicitation of proxies from Pinnacle’s and BNC’s shareholders in connection with the proposed transaction. Information about the directors and executive officers of Pinnacle and their ownership of Pinnacle common stock is set forth in the definitive proxy statement for Pinnacle’s 2016 annual meeting of shareholders, as previously filed with the SEC on March 10, 2016, and other documents subsequently filed by Pinnacle with the SEC. Information about the directors and executive officers of BNC and their ownership of BNC common stock is set forth in the definitive proxy statement for BNC’s 2016 annual meeting of shareholders, as previously filed with the SEC on April 6, 2016, and other documents subsequently filed by BNC with the SEC. Shareholders may obtain additional information regarding the interests of such participants by reading the registration statement and the joint proxy statement/prospectus when they become available. Free copies of these documents may be obtained as described in the paragraphs above. Non-GAAP Financial Matters This presentation also contains certain non-GAAP financial measures for one or both of Pinnacle Financial or BNC, including, without limitation, earnings per diluted share, efficiency ratio, return on average assets, return on average tangible common equity, and tangible common equity to tangible assets, in each case excluding the impact of expenses related to gain or loss on sale of investments, merger-related charges and other matters for the accounting periods presented, the impact of goodwill and core deposit intangibles associated with Pinnacle Financial’s and BNC’s prior acquisitions or investments and, in the case of BNC, amortization of intangibles, net, loss of extinguishment of debt, insurance settlements,. The presentation of the non-GAAP financial information is not intended to be considered in isolation or as a substitute for any measure prepared in accordance with GAAP. Because non-GAAP financial measures presented in this presentation are not measurements determined in accordance with GAAP and are susceptible to varying calculations, these non-GAAP financial measures, as presented, may not be comparable to other similarly titled measures presented by other companies. Pinnacle Financial and BNC each believes that these non-GAAP financial measures facilitate making period-to -period comparisons and are meaningful indications of its operating performance. In addition, because intangible assets such as goodwill and the core deposit intangible, and the other items excluded each vary extensively from company to company, Pinnacle Financial and BNC each believes that the presentation of this information allows investors to more easily compare its results to the results of other companies. Safe Harbor Statements 3 Overview of the Transaction 4 Strategically Compelling Builds Upon Strengths Financially Attractive Mitigated Risks Management continuity Both firms have strong credit cultures and exceptional credit metrics Significant acquisition integration experience Expands footprint into urban markets in the Carolinas and Virginia Combines two high performing, commercially focused companies Consistent with PNFP’s articulated M&A strategy Deepens management Diversifies into additional high growth markets Expands ability to continue attracting high profile talent Significant accretion to EPS Accretive to tangible book value; no tangible book earnback period Additive to capital ratios with anticipated Tier 1 capital raise $7.4 billion bank holding company –Headquartered in High Point, NC (Greensboro MSA) –Founded in 1991 Footprint covers key locations in North Carolina, South Carolina and Virginia –Charlotte, Winston-Salem, Greensboro & Raleigh, NC –Greenville & Charleston, SC –Roanoke, VA Proven ability to grow –Double digit organic loan growth (19% CAGR since 2009) complemented by; –~$2.1 billion in assets acquired through 3 completed bank acquisitions since start of 2015 Consistent earnings per share growth and momentum (1) –3- year EPS growth: 35% –Efficiency ratio of 51.7% in 4Q’16 –30.0% YoY net loan growth ($1.2 billion) “BNC Bank - 2016 Best Employer” (3) Nashville Knoxville Charlotte High Point Raleigh Charleston Roanoke Greensboro Memphis Chattanooga SC TN NC VA Greenville Myrtle Beach Savannah Asheville Creating the Premier Southeast Franchise 5 Source: SNL Financial; Company Management (1)EPS and efficiency ratio are operating results, a Non-GAAP measure. Refer to appendix for GAAP to Non-GAAP reconciliation (2)According to American Banker (3)According to Business North Carolina & the South Carolina Chamber of Commerce $11.2 billion financial holding company –Headquartered in Nashville, TN –Founded in 2000 An urban community bank –All the sophistication of a larger regional bank with the hands-on, friendly, personal service associated with a smaller community bank Proven ability to grow market share in core markets: –Double digit organic loan growth (14% CAGR since 2009) complemented by; –~$2.7 billion in assets acquired through 3 completed bank acquisitions since start of 2015 Consistent earnings per share growth and momentum (1) –3- year EPS growth: 53% –Efficiency ratio of 49.6% in 4Q’16 –Record revenue in 2016, 38% YoY increase One of the “Best Banks to Work For” (2) Four-state banking footprint across desirable Southeast Markets Meaningful presence in large, high growth, metropolitan markets Combination of two profitable franchises, creating one of the most profitable banks in the country Creates a top 50 U.S. bank by assets One of the most valuable Southeast banking institutions by market capitalization PNFP BNCN Winston-Salem Richard Callicutt Chairman of the Carolinas & Virginia Our Combined Leadership Team 6 Executive Leadership Terry Turner President and Chief Executive Officer Harold Carpenter EVP and Chief Financial Officer Hugh Queener EVP, Corporate Secretary and CAO D. Kim Jenny Chief Risk Officer Harvey White Chief Credit Officer Rob McCabe Chairman of the Board Chairman of Tennessee David Spencer EVP Board of Directors 14 PNFP Directors 4 BNCN Directors Year Completed Targe tAssets ($mm) 2016High Point Bank Corporation$794 2016Southcoast Financial Corporation$492 2015Valley Financial Corporation$857 2014Harbor Bank Group, Inc.$306 2014South Street Financial Corp.$274 2014Community First Financial Group, Inc.$228 2013Randolph Bank & Trust Company $302 2012Carolina Federal Savings Bank$41 2012First Trust Bank$437 2012KeySource Financial, Inc.$206 2011Blue Ridge Savings Bank, Inc.$168 2011Regent Bancorp, Inc.$52 2010Beach First National Bank$613 2006SterlingSouth Bank & Trust Company$148 Total (14 Acquisitions)$4,919 BNCN – Proven Track Record 7 Asset Growth Earnings Growth (2) $372 $5,667 $7,402 200320152016 Stock Price Performance Since 12/31/2002 (80%) 0% 80% 160% 240% 320% 20022004200620082010201220142016 BNCN (318%)NASDAQ Bank (68%)S&P 500 (158%) +318% +68% $3.4 $52.7 $74.0 200320152016 ROAA (%) (2) 1.03% 1.12% 1.17% 200320152016 26% CAGR 27% CAGR Bank Acquisitions (1) +158% Source: SNL Financial; dollars in millions; market data as of January 20, 2017 (1)Includes whole bank and government assisted transactions since 2006 (2)Operating results; a Non-GAAP measure, refer to appendix for GAAP to Non-GAAP reconciliation Although no revenue synergies are included in the financial modeling, there are significant opportunities to leverage the franchise strengths of both institutions: C&I Business Leverage PNFP’s C&I capabilities in BNCN’s markets Ability to offer a robust treasury management platform Commercial Mortgage Expands brokerage platform for BNCN CRE lenders & clients Wealth Management Incremental fee income from investment & trust services Residential Mortgage Ability to leverage PNFP’s residential mortgage platform Benefits of Scale Ability to pursue larger clients Better pricing for wholesale funding opportunities Balance sheet repositioning Business Integration Opportunity 8 Strategic Merger of Like-Minded Banks 9 Creates a dominant Southeastern platform to leverage the individual strengths of both companies Partnership improves upon compelling ROA, ROTCE, and Efficiency Ratio metrics Maintains record of banks’ pristine asset quality metrics Retention of BNCN management in key roles to allow for continued focus on commercial loan growth in new markets Demonstrated acquisition ability of both banks reduces integration risk of pro forma entity Strategic Merger of Like-Minded Banks (1) PNFP / BNCN Combination  Franchise focused in Large MSAs (2) 97.7%84.2%  Strong Returns on Assets (3) 1.37%1.21%  Exceptional Returns on Tangible Equity (3) 16.3%14.5%  Leading Efficiency Metrics (3) 49.6%51.7%  Outsized Organic Loan Growth 14.1%19.0%  Pristine Asset Quality: NPLs / Loans 0.50%0.27%  Leading Deposit Mix 27.4% DDA18.3% DDA  Coveted Commercial Loan Concentration (4) 50.3%25.0% Source: SNL Financial (1)Financial data presented as of Most Recent Quarter; Organic Loan Growth presented as a 5-year CAGR (2)Metropolitan areas with a population greater than 350,000 (3)Operating results; Non-GAAP measure. Refer to appendix for GAAP to Non-GAAP reconciliation (4)Represents the sum of Commercial & Industrial + Owner Occupied CRE RankMetropolitan AreaPopulation 1Washington-Arlington-Alexandria, DC-VA-MD-WV6,145,027 2Atlanta-Sandy Springs-Roswell, GA5,736,343 3Charlotte-Concord-Gastonia, NC-SC2,436,209 4Nashville-Davidson--Murfreesboro--Franklin, TN1,840,320 5Virginia Beach-Norfolk-Newport News, VA-NC1,734,823 6Memphis, TN-MS-AR1,347,257 7Richmond, VA1,274,616 8Raleigh, NC1,274,181 9Birmingham-Hoover, AL1,150,168 10Greenville-Anderson-Mauldin, SC877,875 11Knoxville, TN865,193 12Columbia, SC812,505 13Greensboro-High Point, NC754,836 14Charleston-North Charleston, SC750,593 15Winston-Salem, NC659,449 16Augusta-Richmond County, GA-SC589,440 17Jackson, MS579,115 18Durham-Chapel Hill, NC553,236 19Chat t anooga, TN-GA549,579 20Huntsville, AL449,107 21Asheville, NC448,542 22Myrtle Beach-Conway-North Myrtle Beach, SC-NC433,835 23Mobile, AL415,990 24Gulfport-Biloxi-Pascagoula, MS391,544 25Fayetteville, NC385,288 Expands Presence into Desirable Regional Markets 10 Presence in 48% of the top 25 MSAs (12 of 25) 92% of our pro forma deposits in these markets Presence in 40% of the top 25 MSAs (10 of 25) 58% of our pro forma deposits in these markets Top 25 MSAs in Region by Population Projected Pop. G rowth Rank Metropolitan Area(%) 1 Myrtle Beach-Conway-North Myrtle Beach, SC-NC9.8 2Hilton Head Island-Bluffton-Beaufort, SC8.7 3Charleston-North Charleston, SC8.7 4Raleigh, NC8.2 5Dunn, NC7.9 6Charlotte-Concord-Gastonia, NC-SC7.2 7Savannah, GA7.1 8Wilmington, NC7.1 9Daphne-Fairhope-Foley, AL7.1 10 Nashville-Davidson--Murfreesboro--Franklin, TN7.0 11 Durham-Chapel Hill, NC6.8 12Auburn-Opelika, AL6.7 13Atlanta-Sandy Springs-Roswell, GA6.7 14Gainesville, GA 6.6 15O xford, MS6.4 16Jefferson, GA6.3 17Greenville-Anderson-Mauldin, SC6.1 18Pinehurst-Southern Pines, NC6.1 19Athens-Clarke County, GA 5.9 20Jacksonville, NC5.8 21Columbia, SC5.7 22Sevierville, TN5.5 23Washington-Arlington-Alexandria, DC-VA-MD-WV5.5 24Shelbyville, TN5.3 25Asheville, NC5.2 Top 25 MSAs in Region by Proj. Population Growth Source: SNL Financial; deposit data as of June 30, 2016 Note: Blue highlight denotes markets of operation for PNFP; Red highlight denotes markets of operation for BNCN Note: Region defined as AL, GA, MS, NC, SC, TN, VA GA VA NC SC TN Consistent with Our Articulated M&A Strategy 11 Management continuity > 5% EPS accretion in first full year Commercial thrust Sustainable core profitability Capacity to achieve mass in market At least $1 billion in assets M&A Criteria (1) Existing and Targeted New Markets (1) PNFP (46) BNCN (76) MEMPHIS NASHVILLE-DAVIDSON-- MURFREESBORO--FRANKLIN CHATTANOOGA ATLANTA-SANDY SPRINGS- ROSWELL KNOXVILLE CLEVELAND GREENVILLE- ANDERSON- MAULDIN CHARLESTON- NORTH CHARLESTON WINSTON- SALEM GREENSBORO- HIGH POINT RALEIGH RICHMOND VIRGINIA BEACH CHARLOTTE- CONCORD- GASTONIA Entry into 6 of 9 targeted new markets (1) Source: SNL Financial Note: Blue highlight denotes existing markets of operation; red highlight denotes desired new metropolitan markets (1)Targeted new markets and M&A criteria as stated in prior investor presentations TennesseeNorth Carolina, South Carolina & Virginia NashvilleMemphis KnoxvilleChattanoogaCharlotteWinston-SalemGreensboroRaleighGreenvilleCharlestonRoanoke GDP ($bn) (1) $114$71$39$24 $152$29$39$76$38$36$14 Population1,881,5241,347,404 868,453552,9442,485,529664,730760,8301,305,052891,702768,937316,013 Proj. Pop. (' 17-' 22) Growth 7.03%1.92%3.32%3.81%7.16%3.76%4.38%8.20%6.10%8.66%2.70% Businesses66,54447,39334,55120,64888,98323,22231,51845,48531,00827,78313,288 Deposits ($mm)$52,198$28,031$16,264 $9,377$200,848$38,103$11,757$27,589$15,371$12,238$7,263 Pro Forma Footprint: Expanded Presence in Southeastern Growth Markets 12 Select Urban Markets Served Merger with BNCN is consistent with Pinnacle’s articulated M&A strategy – focusing on high growth urban markets Expanded 4-state footprint gives us critical mass in all the right Southeastern growth markets Leading metro markets by population and population growth Leading metro markets by key economic indicators Source: SNL Financial (1)Per the Bureau of Economic Analysis’ 2015 Regional GDP report Transaction Summary 13 Transaction Value & Consideration Capital Raise Pro Forma Ownership Termination Fee Voting Agreements Required Approvals Certain PNFP & BNCN shareholders, including all directors and executive officers, have signed customary support agreements Targeted Closing Approval of PNFP and BNCN shareholders Customary regulatory approvals 3 rd Quarter 2017 $66 million, mutual $1.88 billion in diluted transaction value (1) Fixed exchange ratio: 0.5235x 100% stock consideration Anticipated Tier I capital raise of approximately $175 million Pro forma franchise crosses $15 billion assets as result of merger. Seek to raise Tier I capital to support Tier I regulatory capital ratios with trust preferred securities fully recognized as Tier II capital 60% PNFP / 36% BNCN / 4% new shares issued in anticipated Tier 1 equity raise (1)Based on 52,181,073 BNCN common shares outstanding, PNFP’s 20-day trailing average of $68.20 as January 20, 2017 and the fixed exchange ratio of 0.5235x; inclusive of the effect of BNCN’s RSAs / RSUs Multiples Comparison 14 Transaction Multiples (1) Trading Multiples (2) Relative Multiples Price / Tangible Book Value (3 ) : 2.91x3.40x Price / BNCN's 2017 Earnings (4 ) : 19.7x20.2x Price / BNCN's 2018 Earnings (4 ) : 17.1x17.5x Other Transaction Data Market Premium (5 ) : 10.5% BNC Dividend Accretion (6 ) : 46.6% (1)Based upon PNFP’s 20-day trailing average closing price of $68.20 as of January 20, 2017 and the exchange ratio of 0.5235x (2)Based upon PNFP’s 20-day trailing average closing price of $68.20 as of January 20, 2017 (3)Based upon BNCN tangible book value per share of $12.29 as of December 31, 2016 (4)Based upon consensus mean estimates as of January 20, 2017; 2017 EPS of $1.81, 2018 EPS of $2.09 (5)Based upon PNFP’s 20-day trailing average closing price of $68.20 and BNCN’s 20-day trailing average closing price of $32.30 as of January 20, 2017 (6)Based upon BNCN’s current quarterly dividend of $0.05 per share, PFNP’s current quarterly dividend of $0.14 per share and the exchange ratio of 0.5235x 15 Key Focus Area Action Observations Risk Management Key risk managers at Pinnacle participated in due diligence including CEO, CFO, CAO, CCO, CRO, etc. BNCN Risk management appears to be robust (especially in the areas of compliance and credit) and appears to fit well with the Pinnacle risk management structure Credit Detailed loan reviews of the non-consumer, non-small business loan portfolio Portfolio sampling of Pinnacle model Consumer and Small Business loan books Total reviewed = 65% Client selection process consistent Strong credit metrics – commercial and CRE Centralized consumer underwriting and strong consumer portfolio metrics Compliance Compliance functions reviewed by Pinnacle EWRM officer and Chief Compliance Officer BNCN has developed an effective compliance risk management infrastructure Interest Rate Sensitivity Detail reviews of investment securities and various interest rate risk scenarios Neutral to slight liability sensitive position due to higher allocation to fixed rate loans and municipal securities Moderate duration present in bond portfolio with strong yield profile Expect modest NIM accretion post conversion Liquidity Deposit book reviewed with emphasis on liquidity risk and deposit concentrations Non-core funding is slightly higher. However, recent acquisitions have strengthened core funding base. Strong on-balance sheet liquidity position CRE focus provides steady principal cash flow stream from term credits. IT & Operations Pinnacle due diligence team gained understanding of IT and operational practices No material systems integration issues discovered IT cancellation fees included in one-time charges Personnel Practices and Policies Pinnacle diligence team gained understanding of personnel practices and policies  HR practices generally consistent Incentive comp will be migrated to the Pinnacle model for incentives and equity compensation Comprehensive Due Diligence Overview (1)Based upon the 2018 mean consensus estimate as of January 20, 2017 Key Transaction Assumptions 16 Options & Restricted Stock Expense Savings Merger & Integration Costs Expected to be approximately $100 million pre-tax and adjustments are fully phased into Pro Forma TBV computation Purchase Accounting & Other Adjustments $57 million loan mark, net of BNCN’s existing discount and reversal of allowance for loan loss Core deposit intangible of 1.18% ($53 million) on non-time deposits, amortized over 10 years, sum-of-the-years digits Expected annual BNCN lost revenue / incremental expense of $5 million pre-tax related to the regulatory impact of crossing $10 billion in assets Approximately $12.5 million in incremental after-tax earnings estimated for 2018 incorporating all fair market value adjustments and other merger-related adjustments BNCN’s 66,443 in-the-money options outstanding to be cashed out upon the closing of the transaction 551,726 RSAs / RSUs to be converted into PNFP common shares at the exchange ratio Expected to be approximately $41 million (fully phased-in), 25% of BNCN’s noninterest expense (1) Revenue Synergies Revenue enhancements identified but not modeled Estimated Pro Forma Impacts Key Transaction Impacts to PNFP (1) 2018E EPS Accretion~ 10% IRR~ 20% Initial Tangible Book Value Accretion~ 5% Tangible Book Value Earnback Periodn/a As of December 31, 2016Pro Forma PNFPBNCN @ 7/1/2017 (1) Capital Ratios TCE / TA8.8%9.0%9.3% Leverage Ratio8.6%10.1%9.0% Common Equity Tier I Ratio7.9%10.5%9.5% Tier I Ratio8.6%11.2%9.5% Total Risk-based Capital Ratio11.9%13.0%12.5% Loan Concentration Ratios C&D / Total Capital75%85%77% CRE / Total Capital240%338%272% 17 Note: Pro forma impacts presented inclusive of anticipated Tier I equity raise (1)Estimated financial impact is presented solely for illustrative purposes using mean analyst estimates. Includes purchase accounting marks and cost savings, as well as approximately $175 million Tier I capital raise to address loss of Tier I treatment for TRUPs; assumes system conversion in Q4 2017 Nat 'l Assets RankInstitution($bn) 1JPMorga n Cha s e & Co.2,491 2Bank of Ameri ca Corporati on 2,188 3Wel l s Fargo & Company1,930 4Citigroup Inc. 1,792 5U.S. Ba ncorp446 6PNC Financial Services Group, Inc.366 7Capital One Financial Corporation345 8 Bank of New York Mel l on Corporati on333 9Sta te Street Corpora ti on256 10BB&T Corporati on 219 11SunTrust Banks, Inc.205 12Citizens Financial Group, Inc.150 13Fifth Third Bancorp143 14KeyCor p136 15Regions Financial Corporation126 16Northern Trust Corporation124 17M&T Bank Corporati on123 18Huntington Bancshares Incorporated101 19First Republic Bank73 20Comeri ca Incorporated73 21Zi ons Bancorporati on61 22New York Community Bancorp, Inc.49 23SVB Financial Group 43 24People's United Financial, Inc.41 25Popular, Inc.39 50Pro Forma20 75Pinnacle Financial Partners, Inc.11 Pro Forma Market Position 18 36 th largest in the U.S. by market cap Top 50 bank in the U.S by assets Nat 'l2018 Proj. RankInstitution ROAA (%) (1 ) 1Bank of the Ozarks, Inc.1.87 2Western Alliance Bancorporation1.72 3PacWest Bancorp1.67 Pro Forma1.40+ 4Hilltop Holdings Inc.1.39 5Pinnacle Financial Partners, Inc.1.38 6Hope Bancorp, Inc.1.37 7Ea s t Wes t Ba ncorp, I nc.1.34 8U.S. Ba ncorp1.34 9Chemical Financial Corporation1.30 10Great Western Bancorp, Inc.1.28 11Sterling Bancorp1.27 12United Bankshares, Inc.1.26 13Prosperity Bancshares, Inc.1.24 14Cathay General Bancorp1.22 15BB&T Corporati on1.24 16Signature Bank1.20 17Wel l s Fargo & Company1.16 18F.N.B. Corpora ti on1.14 19MB Financial, Inc.1.14 20Commer c e Ba nc s ha r es , I nc .1.12 21Bank of Hawai i Corporati on1.12 22Capital One Financial Corporation1.12 23Huntington Bancshares Incorporated1.12 24United Community Banks, Inc.1.11 25TCF Financial Corporation1.09 Best-in-Class Profitability Nat 'lMkt . Cap. RankInstitution($bn) 1JPMorga n Cha s e & Co.299.4 2Wel l s Fargo & Company276.7 3Bank of Ameri ca Corporati on229.2 4Citigroup Inc.159.9 5U.S. Ba ncorp87.3 6PNC Financial Services Group, Inc.57.3 7Bank of New York Mel l on Corporati on47.1 8 Capital One Financial Corporation 42.7 9BB&T Corporati on36.9 10Sta te Street Corpora ti on30.5 11SunTrust Banks, Inc.27.2 12M&T Bank Corporati on24.3 13Fifth Third Bancorp19.9 14KeyCor p19.3 15Northern Trust Corporation18.9 16Citizens Financial Group, Inc.18.6 17Regions Financial Corporation17.4 18Huntington Bancshares Incorporated14.2 19First Republic Bank13.9 20Comeri ca Incorporated11.5 21SVB Financial Group8.9 22Zi ons Bancorporati on8.7 23Signature Bank8.4 24New York Community Bancorp, Inc.7.7 25Ea s t Wes t Ba ncorp, I nc.7.1 36Pro Forma4.9 59Pinnacle Financial Partners, Inc.3.0 Source: SNL Financial and FactSet Research Systems Note: Includes public banks with greater than or equal to $10 billion in assets; market data as of January 20, 2017 (1)2018 projected ROAA per mean consensus estimates as of January 20, 2017; PNFP pro forma based on previously stated transaction assumptions and projections Sustainable Business Model 19 Metric Current PNFP Combined with BNCN Targeted Ranges Net interest margin 3.40% to 3.60% Unchanged Net charge-off ’s 0.20% to 0.35% Noninterest income / Average assets 1.10% to 1.30% Noninterest expense / Average assets 2.00% to 2.20% Return on Average Assets 1.20% to 1.40% 1.30% to 1.50% Combination increases profitability of franchise: Note: Non-GAAP measurements typically presented and reconciled to GAAP measures; excludes the impact of merger-related charges, refer to appendix for GAAP to Non-GAAP reconciliation Virginia South Carolina Tennessee North Carolina Roanoke Roanoke Roanoke Roanoke Roanoke Roanoke Roanoke Roanoke Roanoke Roanoke Roanoke Roanoke Roanoke Roanoke Roanoke Roanoke Roanoke Roanoke Roanoke Roanoke Roanoke Roanoke Roanoke Roanoke Roanoke Roanoke Roanoke Roanoke Roanoke Roanoke Roanoke Roanoke Roanoke Roanoke Roanoke Roanoke Roanoke Roanoke Roanoke Roanoke Roanoke Roanoke Roanoke Roanoke Roanoke Roanoke Roanoke Roanoke Roanoke Richmond Richmond Richmond Richmond Richmond Richmond Richmond Richmond Richmond Richmond Richmond Richmond Richmond Richmond Richmond Richmond Richmond Richmond Richmond Richmond Richmond Richmond Richmond Richmond Richmond Richmond Richmond Richmond Richmond Richmond Richmond Richmond Richmond Richmond Richmond Richmond Richmond Richmond Richmond Richmond Richmond Richmond Richmond Richmond Richmond Richmond Richmond Richmond Richmond Knoxville Knoxville Knoxville Knoxville Knoxville Knoxville Knoxville Knoxville Knoxville Knoxville Knoxville Knoxville Knoxville Knoxville Knoxville Knoxville Knoxville Knoxville Knoxville Knoxville Knoxville Knoxville Knoxville Knoxville Knoxville Knoxville Knoxville Knoxville Knoxville Knoxville Knoxville Knoxville Knoxville Knoxville Knoxville Knoxville Knoxville Knoxville Knoxville Knoxville Knoxville Knoxville Knoxville Knoxville Knoxville Knoxville Knoxville Knoxville Knoxville Chattanooga Chattanooga Chattanooga Chattanooga Chattanooga Chattanooga Chattanooga Chattanooga Chattanooga Chattanooga Chattanooga Chattanooga Chattanooga Chattanooga Chattanooga Chattanooga Chattanooga Chattanooga Chattanooga Chattanooga Chattanooga Chattanooga Chattanooga Chattanooga Chattanooga Chattanooga Chattanooga Chattanooga Chattanooga Chattanooga Chattanooga Chattanooga Chattanooga Chattanooga Chattanooga Chattanooga Chattanooga Chattanooga Chattanooga Chattanooga Chattanooga Chattanooga Chattanooga Chattanooga Chattanooga Chattanooga Chattanooga Chattanooga Chattanooga Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Cleveland Charlotte Charlotte Charlotte Charlotte Charlotte Charlotte Charlotte Charlotte Charlotte Charlotte Charlotte Charlotte Charlotte Charlotte Charlotte Charlotte Charlotte Charlotte Charlotte Charlotte Charlotte Charlotte Charlotte Charlotte Charlotte Charlotte Charlotte Charlotte Charlotte Charlotte Charlotte Charlotte Charlotte Charlotte Charlotte Charlotte Charlotte Charlotte Charlotte Charlotte Charlotte Charlotte Charlotte Charlotte Charlotte Charlotte Charlotte Charlotte Charlotte Greenville Greenville Greenville Greenville Greenville Greenville Greenville Greenville Greenville Greenville Greenville Greenville Greenville Greenville Greenville Greenville Greenville Greenville Greenville Greenville Greenville Greenville Greenville Greenville Greenville Greenville Greenville Greenville Greenville Greenville Greenville Greenville Greenville Greenville Greenville Greenville Greenville Greenville Greenville Greenville Greenville Greenville Greenville Greenville Greenville Greenville Greenville Greenville Greenville Greensboro Greensboro Greensboro Greensboro Greensboro Greensboro Greensboro Greensboro Greensboro Greensboro Greensboro Greensboro Greensboro Greensboro Greensboro Greensboro Greensboro Greensboro Greensboro Greensboro Greensboro Greensboro Greensboro Greensboro Greensboro Greensboro Greensboro Greensboro Greensboro Greensboro Greensboro Greensboro Greensboro Greensboro Greensboro Greensboro Greensboro Greensboro Greensboro Greensboro Greensboro Greensboro Greensboro Greensboro Greensboro Greensboro Greensboro Greensboro Greensboro Winston-Salem Winston-Salem Winston-Salem Winston-Salem Winston-Salem Winston-Salem Winston-Salem Winston-Salem Winston-Salem Winston-Salem Winston-Salem Winston-Salem Winston-Salem Winston-Salem Winston-Salem Winston-Salem Winston-Salem Winston-Salem Winston-Salem Winston-Salem Winston-Salem Winston-Salem Winston-Salem Winston-Salem Winston-Salem Winston-Salem Winston-Salem Winston-Salem Winston-Salem Winston-Salem Winston-Salem Winston-Salem Winston-Salem Winston-Salem Winston-Salem Winston-Salem Winston-Salem Winston-Salem Winston-Salem Winston-Salem Winston-Salem Winston-Salem Winston-Salem Winston-Salem Winston-Salem Winston-Salem Winston-Salem Winston-Salem Winston-Salem Memphis Memphis Memphis Memphis Memphis Memphis Memphis Memphis Memphis Memphis Memphis Memphis Memphis Memphis Memphis Memphis Memphis Memphis Memphis Memphis Memphis Memphis Memphis Memphis Memphis Memphis Memphis Memphis Memphis Memphis Memphis Memphis Memphis Memphis Memphis Memphis Memphis Memphis Memphis Memphis Memphis Memphis Memphis Memphis Memphis Memphis Memphis Memphis Memphis Charleston Charleston Charleston Charleston Charleston Charleston Charleston Charleston Charleston Charleston Charleston Charleston Charleston Charleston Charleston Charleston Charleston Charleston Charleston Charleston Charleston Charleston Charleston Charleston Charleston Charleston Charleston Charleston Charleston Charleston Charleston Charleston Charleston Charleston Charleston Charleston Charleston Charleston Charleston Charleston Charleston Charleston Charleston Charleston Charleston Charleston Charleston Charleston Charleston Nashville Nashville Nashville Nashville Nashville Nashville Nashville Nashville Nashville Nashville Nashville Nashville Nashville Nashville Nashville Nashville Nashville Nashville Nashville Nashville Nashville Nashville Nashville Nashville Nashville Nashville Nashville Nashville Nashville Nashville Nashville Nashville Nashville Nashville Nashville Nashville Nashville Nashville Nashville Nashville Nashville Nashville Nashville Nashville Nashville Nashville Nashville Nashville Nashville Raleigh Raleigh Raleigh Raleigh Raleigh Raleigh Raleigh Raleigh Raleigh Raleigh Raleigh Raleigh Raleigh Raleigh Raleigh Raleigh Raleigh Raleigh Raleigh Raleigh Raleigh Raleigh Raleigh Raleigh Raleigh Raleigh Raleigh Raleigh Raleigh Raleigh Raleigh Raleigh Raleigh Raleigh Raleigh Raleigh Raleigh Raleigh Raleigh Raleigh Raleigh Raleigh Raleigh Raleigh Raleigh Raleigh Raleigh Raleigh Raleigh Virginia Beach Virginia Beach Virginia Beach Virginia Beach Virginia Beach Virginia Beach Virginia Beach Virginia Beach Virginia Beach Virginia Beach Virginia Beach Virginia Beach Virginia Beach Virginia Beach Virginia Beach Virginia Beach Virginia Beach Virginia Beach Virginia Beach Virginia Beach Virginia Beach Virginia Beach Virginia Beach Virginia Beach Virginia Beach Virginia Beach Virginia Beach Virginia Beach Virginia Beach Virginia Beach Virginia Beach Virginia Beach Virginia Beach Virginia Beach Virginia Beach Virginia Beach Virginia Beach Virginia Beach Virginia Beach Virginia Beach Virginia Beach Virginia Beach Virginia Beach Virginia Beach Virginia Beach Virginia Beach Virginia Beach Virginia Beach Virginia Beach 40 65 40 24 75 81 40 77 64 66 85 95 77 95 20 26 40 85 Summary 20 40 85 PNFP BNCN Strategic market expansion into 6 of 9 targeted Southeastern markets Combination of two exceptional management teams Extraordinary EPS and TBV accretion Appropriate risk mitigation Pro Forma Highlights (1) Assets:$20 Billion Loans:$14 Billion Deposits:$15 Billion Tang. Common Equity:$1.7 Billion Market Capitalization (2 ) : $4.9 Billion Branches: 122 FTE's:2,064 Source: SNL Financial; Company Management (1)Financial information is pro forma for PNFP / BNCN transaction + approximately $175 million Tier I equity raise (2)Market data as of January 20, 2017 Additional Transaction Detail Estimated Pro Forma Impacts Integration Overview of BNC Bancorp BNCN’s Market Position Markets Detail Significant Commercial Lending Opportunities Diversifying Our Markets Loan and Deposit Detail Pro Forma Loan and Deposit Composition CRE Composition and Historical Losses Interest Rate Sensitivity Fee Income Detail Fee Income Opportunity Leading Pinnacle Markets Non-GAAP Reconciliations Supplemental Information 21 Estimated Pro Forma Impacts (1) 22 Pro Forma for Acquisition PNFP Without $130 mm $175 mm @ 7/1/17Tier I Equity Raise Tier I Equity Raise (4) Tier I Equity Raise (5) Key Transaction Impacts 2018E EPS Accretion$3.91~13%~10%~10% Initial Tangible Book Value Accretion-~(1%)~4%~5% Tangible Book Value Earnback Period (3) -~0.5 yearsNANA Capital Ratios TCE / TA8.9%8.5%9.1%9.3% Leverage Ratio8.7%8.1%8.8%9.0% Common Equity Tier I Ratio8.1%8.5%9.2%9.5% Tier I Ratio8.8%8.5%9.2%9.5% Total Risk-based Capital Ratio11.9%11.5%12.2%12.5% Loan Concentration Ratios C&D / Total Capital75%84%79%77% CRE / Total Capital239%296%278%272% (2) Source: SNL Financial (1)Estimated financial impact is presented solely for illustrative purposes using mean analyst estimates per research analyst reports. Includes purchase accounting marks and cost savings (2)Based upon consensus mean estimates as of January 20, 2017 (3)Utilizing the crossover method (4)Illustrates the pro forma impact of replacing phased-out approximately $130 million of trust preferreds (from Tier 1 to Tier 2) with $130 million of Tier 1 capital; trust preferreds will remain outstanding (5)Includes $130 million Tier I capital raise referenced in Footnote 4 Integration Technology and Process Integration: Operating Systems familiar to Pinnacle (BNCN – JHA Silverlake same as Avenue Financial) Both companies have extensive systems integration experience PNFP – Converted three bank platforms in the last 18 months, approximately $2.3 billion in loans and $2.4 billion in deposits BNCN – Converted five bank platforms in the last 2 years, approximately $1.9 billion in loans and $2.1 billion in deposits Preliminary conversion timeline Pinnacle is planning for a 3-stage technology conversion: Virginia 1 st , South Carolina 2 nd , and North Carolina 3 rd . Ultimate completion by 12/31/17. Loan policy day 1 – internal credit processes expected by 12/31/18 Business Model Integration: Programs with corporate oversight / local accountability Commercial Real Estate, Insurance Agencies, Small Business, Treasury Management Sales Programs with corporate management / local execution support Residential Real Estate, SBA Lending, Wealth Management (Pinnacle Asset Management, Trust Services, Capital Markets) Support functions managed centrally – primary in middle Tennessee with distributed support in areas of Human Resources, Training and Development and other miscellaneous support areas 23 HeadquartersHigh Point, NC Bank Established1991 ($ in millions) Total Assets$7,402 Total Net Loans5,418 Deposits 6,083 Loans / Deposits 96.5% Operating ROAA1.21% Operating ROATCE14.50 Reported Net I nterest Margin3.80 Operating Efficiency Ratio51.7 NPAs / Assets0.56 % NPAs / Loans + OREO0.54 Reserves / Loans0.95 Leverage Ratio10.05% Common Equity Tier 1 Ratio10.49 Tier 1 Ratio11.23 Total Capital Ratio12.95 TCE / TA8.98 BNCN’s Market Position 24 BNCN Major Markets BNCN Financial Overview (1) Roanoke Roanoke Roanoke Roanoke Roanoke Roanoke Roanoke Roanoke Roanoke Roanoke Roanoke Roanoke Roanoke Roanoke Roanoke Roanoke Roanoke Roanoke Roanoke Roanoke Roanoke Roanoke Roanoke Roanoke Roanoke Roanoke Roanoke Roanoke Roanoke Roanoke Roanoke Roanoke Roanoke Roanoke Roanoke Roanoke Roanoke Roanoke Roanoke Roanoke Roanoke Roanoke Roanoke Roanoke Roanoke Roanoke Roanoke Roanoke Roanoke Roanoke City Roanoke City Roanoke City Roanoke City Roanoke City Roanoke City Roanoke City Roanoke City Roanoke City Roanoke City Roanoke City Roanoke City Roanoke City Roanoke City Roanoke City Roanoke City Roanoke City Roanoke City Roanoke City Roanoke City Roanoke City Roanoke City Roanoke City Roanoke City Roanoke City Roanoke City Roanoke City Roanoke City Roanoke City Roanoke City Roanoke City Roanoke City Roanoke City Roanoke City Roanoke City Roanoke City Roanoke City Roanoke City Roanoke City Roanoke City Roanoke City Roanoke City Roanoke City Roanoke City Roanoke City Roanoke City Roanoke City Roanoke City Roanoke City Salem City Salem City Salem City Salem City Salem City Salem City Salem City Salem City Salem City Salem City Salem City Salem City Salem City Salem City Salem City Salem City Salem City Salem City Salem City Salem City Salem City Salem City Salem City Salem City Salem City Salem City Salem City Salem City Salem City Salem City Salem City Salem City Salem City Salem City Salem City Salem City Salem City Salem City Salem City Salem City Salem City Salem City Salem City Salem City Salem City Salem City Salem City Salem City Salem City Craig Craig Craig Craig Craig Craig Craig Craig Craig Craig Craig Craig Craig Craig Craig Craig Craig Craig Craig Craig Craig Craig Craig Craig Craig Craig Craig Craig Craig Craig Craig Craig Craig Craig Craig Craig Craig Craig Craig Craig Craig Craig Craig Craig Craig Craig Craig Craig Craig Botetourt Botetourt Botetourt 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Mecklenburg Mecklenburg Mecklenburg Mecklenburg Mecklenburg Mecklenburg Mecklenburg Mecklenburg Mecklenburg Mecklenburg Mecklenburg Mecklenburg Mecklenburg Mecklenburg Mecklenburg Mecklenburg Mecklenburg Mecklenburg Mecklenburg Mecklenburg Mecklenburg Mecklenburg Mecklenburg Mecklenburg Mecklenburg Mecklenburg Mecklenburg Mecklenburg Mecklenburg Mecklenburg Mecklenburg Mecklenburg Mecklenburg Mecklenburg Mecklenburg Mecklenburg Mecklenburg Mecklenburg Mecklenburg Mecklenburg Mecklenburg Mecklenburg Mecklenburg Mecklenburg Mecklenburg Mecklenburg Mecklenburg Mecklenburg Iredell Iredell Iredell Iredell Iredell Iredell Iredell Iredell Iredell Iredell Iredell Iredell Iredell Iredell Iredell Iredell Iredell Iredell Iredell Iredell Iredell Iredell Iredell Iredell Iredell Iredell Iredell Iredell Iredell Iredell Iredell Iredell Iredell Iredell Iredell Iredell Iredell Iredell Iredell Iredell Iredell Iredell Iredell Iredell Iredell Iredell Iredell Iredell Iredell Gaston Gaston Gaston Gaston Gaston Gaston Gaston Gaston Gaston Gaston Gaston Gaston Gaston Gaston Gaston Gaston Gaston Gaston Gaston Gaston Gaston Gaston Gaston Gaston Gaston Gaston Gaston Gaston Gaston Gaston Gaston Gaston Gaston Gaston Gaston Gaston Gaston Gaston Gaston Gaston Gaston Gaston Gaston Gaston Gaston Gaston Gaston Gaston Gaston Lincoln Lincoln Lincoln Lincoln Lincoln Lincoln Lincoln Lincoln Lincoln Lincoln Lincoln Lincoln Lincoln Lincoln Lincoln Lincoln Lincoln Lincoln Lincoln Lincoln Lincoln Lincoln Lincoln Lincoln Lincoln Lincoln Lincoln Lincoln Lincoln Lincoln Lincoln Lincoln Lincoln Lincoln Lincoln Lincoln Lincoln Lincoln Lincoln Lincoln Lincoln Lincoln Lincoln Lincoln Lincoln Lincoln Lincoln Lincoln Lincoln Pickens Pickens Pickens Pickens Pickens Pickens Pickens Pickens Pickens Pickens Pickens Pickens Pickens Pickens Pickens Pickens Pickens Pickens Pickens Pickens Pickens Pickens Pickens Pickens Pickens Pickens Pickens Pickens Pickens Pickens Pickens Pickens Pickens Pickens Pickens Pickens Pickens Pickens Pickens Pickens Pickens Pickens Pickens Pickens Pickens Pickens Pickens Pickens Pickens Greenville Greenville Greenville Greenville Greenville Greenville Greenville Greenville Greenville Greenville Greenville Greenville Greenville Greenville Greenville Greenville Greenville Greenville Greenville Greenville Greenville Greenville Greenville Greenville Greenville Greenville Greenville Greenville Greenville Greenville Greenville Greenville Greenville Greenville Greenville Greenville Greenville Greenville Greenville Greenville Greenville Greenville Greenville Greenville Greenville Greenville Greenville Greenville Greenville Anderson Anderson Anderson Anderson Anderson Anderson Anderson Anderson Anderson Anderson Anderson Anderson Anderson Anderson Anderson Anderson Anderson Anderson Anderson Anderson Anderson Anderson Anderson Anderson Anderson Anderson Anderson Anderson Anderson Anderson Anderson Anderson Anderson Anderson Anderson Anderson Anderson Anderson Anderson 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Chester Chester Chester Chester Chester Chester Chester Chester Chester Chester Chester Chester Chester Chester Chester Chester Chester Chester Chester Chester Chester Chester Chester Chester Chester Chester Chester Chester Chester Chester Chester Chester Chester Chester York York York York York York York York York York York York York York York York York York York York York York York York York York York York York York York York York York York York York York York York York York York York York York York York York Brunswick Brunswick Brunswick Brunswick Brunswick Brunswick Brunswick Brunswick Brunswick Brunswick Brunswick Brunswick Brunswick Brunswick Brunswick Brunswick Brunswick Brunswick Brunswick Brunswick Brunswick Brunswick Brunswick Brunswick Brunswick Brunswick Brunswick Brunswick Brunswick Brunswick Brunswick Brunswick Brunswick Brunswick Brunswick Brunswick Brunswick Brunswick Brunswick Brunswick Brunswick Brunswick Brunswick Brunswick Brunswick Brunswick Brunswick Brunswick Brunswick Guilford Guilford Guilford Guilford Guilford Guilford Guilford Guilford Guilford Guilford Guilford Guilford Guilford Guilford Guilford Guilford Guilford Guilford Guilford Guilford Guilford Guilford Guilford Guilford Guilford Guilford Guilford Guilford Guilford Guilford Guilford Guilford Guilford Guilford Guilford Guilford Guilford Guilford Guilford Guilford Guilford Guilford Guilford Guilford Guilford Guilford Guilford Guilford Guilford Surry Surry Surry Surry Surry Surry Surry Surry Surry Surry Surry Surry Surry Surry Surry Surry Surry Surry Surry Surry Surry Surry Surry Surry Surry Surry Surry Surry Surry Surry Surry Surry Surry Surry Surry Surry Surry Surry Surry Surry Surry Surry Surry Surry Surry Surry Surry Surry Surry Roanoke MSA Population: 316,013 Total Deposits: $7.3bn Market Share: 7.7% Market Rank: 5 Myrtle Beach MSA Population: 449,541 Total Deposits: $7.6bn Market Share: 2.7% Market Rank: 12 Charleston MSA Population: 768,937 Total Deposits: $12.2bn Market Share: 4.9% Market Rank: 7 Research Triangle Population: 1,502,155 Deposits: $36.8bn Market Share: 1.0% Market Rank: 15 Charlotte MSA Population: 2,485,529 Total Deposits: $200.8bn Market Share: 0.3% Market Rank: 10 Piedmont Triad Population: 1,709,211 Total Deposits: $52.9bn Market Share: 5.6% Market Rank: 3 Greenville MSA Population: 891,702 Total Deposits: $15.4bn Market Share: 1.4% Market Rank: 15 Source: SNL Financial and MapInfo Professional Note: Deposit data as of June 30, 2016 (1)Financial information is as of or for the quarter ended December 31, 2016 (2)Operating results; a Non-GAAP measure, refer to appendix for GAAP to Non-GAAP reconciliation (2) (2) (2) 4 6 9 12 4 5 7 16 33 31 Chattanooga MSA Knoxville MSAMemphis MSANashville MSACharleston MSAGreenville MSA Raleigh MSA Charlotte MSABNCN Top Markets PNFP Top Markets Significant Commercial Lending Opportunities 25 Total Businesses (000s) Total C&I Businesses (000s) (1) 21 35 47 67 28 31 45 89 193 169 Chattanooga MSA Knoxville MSAMemphis MSANashville MSACharleston MSAGreenville MSA Raleigh MSACharlotte MSABNCN Top Markets PNFP Top Markets Source: SNL Financial Note: BNCN Top Markets defined as Charleston, Greenville, Raleigh and Charlotte MSAs. PNFP Top Markets defined as Chattanooga, Knoxville, Memphis and Nashville MSAs (1)Includes companies classified with the NAICS as Healthcare and Social Assistance, Wholesale Trade, Manufacturing or Transportation and Warehousing Significant Commercial Lending Opportunities (continued) 26 Sales ($bn) 2014 – 2015 GDP Growth (1) $45 $76 $121 $172 $54 $72 $96 $193 $415 $414 Chattanooga MSA Knoxville MSAMemphis MSANashville MSACharleston MSAGreenville MSA Raleigh MSACharlotte MSABNCN Top Markets PNFP Top Markets 5.2% 4.6% 3.0% 6.8% 6.6% 5.7% 9.4% 7.2% 7.3% 5.2% Chattanooga MSA Knoxville MSAMemphis MSANashville MSACharleston MSAGreenville MSA Raleigh MSACharlotte MSABNCN Top Markets PNFP Top Markets Source: SNL Financial; U.S. Bureau of Economic Analysis Note: BNCN Top Markets defined as Charleston, Greenville, Raleigh and Charlotte MSAs. PNFP Top Markets defined as Chattanooga, Knoxville, Memphis and Nashville MSAs (1)Measured in current dollars. BNCN and PNFP Top Markets are calculated based on total GDP growth in the markets Deposits by Top MSAs (1) Diversifying Our Markets Deposits by State 27 Nashville-Davidson-- Murfreesboro-- Franklin, TN 43.1% Piedmont Triad (3) 20.9% Knoxville, TN 6.0% Charlotte-Concord- Gastonia, NC-SC 4.4% Chattanooga, TN -GA 4.3% Charleston-North Charleston, SC 4.2% Roanoke, VA 3.9% Memphis, TN- MS- AR 3.3% Durham-Chapel Hill, NC 1.8% Other (2) 8.2% Tennessee 58.0% North Carolina 30.1% South Carolina 8.0% Virginia 3.9% Source: SNL Financial Deposit data as of June 30, 2016 Note: Blue shading represents PNFP markets of operation and red shading represents BNCN markets of operation (1)Includes top 10 metropolitan areas by deposits (2)Includes the following MSAs: Albemarle, NC; Greenville-Anderson-Mauldin, SC; Myrtle Beach-Conway-North Myrtle Beach, SC-NC; Cleveland, TN; Raleigh, NC; Spartanburg, SC; Shelbyville, TN; Asheville, NC; Burlington, NC; Hilton Head Island-Bluffton-Beaufort, SC (3)Piedmont Triad is an aggregation of the Greensboro-High Point, NC & Winston-Salem, NC MSAs Demand Deposits 18.3% NOW & Other Trans. Accts 11.1% MMDA & Other Savings 44.8% Retail Time Deposits 15.4% Jumbo Time Deposits 10.4% Demand Deposits 23.7% NOW & Other Trans. Accts 16.7% MMDA & Other Savings 43.4% Retail Time Deposits 7.9% Jumbo Time Deposits 8.3% Demand Deposits 27.4% NOW & Other Trans. Accts 20.6% MMDA & Other Savings 42.4% Retail Time Deposits 2.7% Jumbo Time Deposits 6.9% Pro Forma Loan and Deposit Composition 28 Deposit Mix Loan Mix PNFP BNCN Pro Forma Total: Total: Total: Total: Total: Total: $8,450mm $5,456mm $13,906mm $8,759mm $6,083mm $14,842mm Construction 11.4% Residential R.E. 18.1% Non-Owner Occupied CRE 27.8% Owner Occupied CRE 16.1% Commercial & Industrial 24.3% Consumer & Other 2.3% Construction 10.8% Residential R.E. 14.0% Non-Owner Occupied CRE 21.8% Owner Occupied CRE 16.0% Commercial & Industrial 34.2% Consumer & Other 3.1% Construction 12.4% Residential R.E. 24.3% Non-Owner Occupied CRE 37.3% Owner Occupied CRE 16.2% Commercial & Industrial 8.8% Consumer & Other 1.0% Source: SNL Financial and Company Documents Note: Data as of December 31, 2016 Note: Jumbo time deposits defined as time deposits greater than $100,000 31.4% 17.8% 14.3% 10.7% 9.1% 4.7% 4.6% 3.2% 4.1% 0.00% 5.00% 10.00% 15.00% 20.00% 25.00% 30.00% 35.00% C&DRetailMultifamilyOfficeIndustrialOther Financial RE HotelHealthcareMisc. CRE Composition and Historical Losses PNFP Commercial Real Estate Portfolio (NOO) (1) 29 PNFP NOO CRE Net Charge Offs (%) (3) BNCN NOO CRE Net Charge Offs (%) (3) BNCN Commercial Real Estate Portfolio (NOO) (2) 21.6% 24.8% 8.2% 11.2% 6.2% 0.1% 10.4% 2.8% 14.7% 0.00% 5.00% 10.00% 15.00% 20.00% 25.00% 30.00% C&DRetailMultifamilyOfficeIndustrialOther Financial RE HotelHealthcareMisc. 0.17% 2.09% 2.98% 1.20% 0.53% 0.21% 0.02% (0.09%) (0.01%) (0.25%) 0.25% 0.75% 1.25% 1.75% 2.25% 2.75% 3.25% 200820092010201120122013201420152016 YTD 0.42% 1.71% 1.51% 1.87% 1.63% 0.72% 0.21% (0.15%) (0.05%) (0.25%) 0.25% 0.75% 1.25% 1.75% 2.25% 2.75% 3.25% 200820092010201120122013201420152016 YTD Source: Company Management (1)Per Company Management, as of December 31, 2016 (2)Per Company Management, as of December 27, 2016 (3)Data is presented as of September 30, 2016; does not take into effect the impact of BNCN’s recently completed acquisition of High Point Bank Corp. Interest Rate Sensitivity 30 Change in Net Interest Income Change in Economic Value of Equity 9.5% 19.4% 28.8% 37.9% 0.1% 0.6% 0.0% (1.3%) (30.0%) (20.0%) (10.0%) 0.0% 10.0% 20.0% 30.0% 40.0% +100 bps+200 bps+300 bps+400 bps PNFP BNCN 8.9% 16.9% 23.7% 29.7% (0.9%) (2.3%) (5.3%) (7.2%) (50.0%) (37.5%) (25.0%) (12.5%) 0.0% 12.5% 25.0% 37.5% +100 bps+200 bps+300 bps+400 bps PNFP BNCN Source: Company filings Note: PNFP analysis per Company management, as of November 30 , 2016 assumes an instantaneous and parallel rate shock. Note: BNCN analysis per Company management, as of September 30, 2016 and assumes an instantaneous and parallel rate shock; excludes the impact of BNCN’s recently completed acquisition of High Point Bank Corp. Fee Income Opportunity 31 By Product 2016 ($mm): $121 % of Average Assets: 1.21% 2016 ($mm): $38 % of Average Assets: 0.61% 12.0% 0.3% 14.1% 34.6% 13.0% 26.0% Service Charges Securities Gains Trust / Investment Other Noninterest Income Mortgage Income From Equity Method Investment 26.8% 0.0% 5.7% 38.1% 29.4% Service Charges Securities Gains Trust / Investment Other Noninterest Income Mortgage Source: SNL Financial and Company documents Note: Data for the full year ended December 31, 2016 Leading Pro Forma Markets 32 Tennessee Tennessee ranks No. 5 in state business climate rankings (Site Selection) Tennessee continued to add jobs at more than twice the U.S. rate last year (U.S. Department of Labor) Tennessee’s Spring Hill General Motors’ expansion named the Silver recipient for annual ‘Deal of the Year’ award (Business Facilities) North Carolina North Carolina ranks No. 2 in state business climate rankings (Site Selection) North Carolina was ranked No. 2 in ‘Best States for Business 2016’ (Forbes) North Carolina is home to the 9th and 13th fastest growing cities in the U.S. (Forbes) South Carolina South Carolina was ranked No. 7 ‘Best Business Climate in the Country’ (Site Selection) South Carolina ranks No. 10 in favorable regulatory environments for business (Forbes) Virginia Virginia was ranked No. 6 ‘Best State for Business’ and No. 3 in ‘Regulatory Environment’ (Forbes) Virginia ranks No. 3 in ‘Business Friendliness’ (CNBC) Leading Pro Forma Markets 33 Nashville has achieved “it city” status, landing on several major national publications’ lists of hot spots. Nashville’s diverse economy, thriving cultural base and strong business community are major attractions for corporations. The accolades continued in the fourth quarter of 2016: Nashville ranks No. 1 in ‘2017 10 Hottest Housing Markets’ (Zillow) Nashville ranks No. 7 in ‘2016 Best-Performing Cities’ (Milken Institute) Nashville is the third-best city in the country for job seekers (NerdWallet) Nashville is amongst the ‘50 Best Places to Travel’ in 2017 (Travel + Leisure) Knoxville also enjoys a very healthy and diverse economy with an excellent transportation and technology infrastructure. The Knoxville metropolitan area was the third fastest MSA in the country to fully recover from jobs lost in the 2007-2010 recession and currently enjoys the lowest unemployment rate of Tennessee’s metro areas. Good news in the fourth quarter of 2016 includes: Knoxville named one of the ‘American Cities Adding the Most Jobs This Year’ (247WallSt.com) Knoxville named as a top retirement destination (WhereToRetire.com) Memphis offers a diverse, metropolitan workforce. Over the past three decades, the presence of companies like FedEx and the region’s superior distribution infrastructure have earned Memphis the title, “America’s Distribution Center.” Memphis ranks No. 3 in the nation in terms of lowest rent-to -income ratio (SmartAsset) Memphis ranks No. 38 in cost of doing business in ‘100 Best Places for Business and Careers’ (Forbes) Chattanooga is Tennessee’s fourth-largest MSA as measured by both population and deposits. National publications have declared Chattanooga a tech hub and manufacturing magnet. Economic drivers include: Chattanooga’s Innovation District beckons to young entrepreneurs (The New York Times) Chattanooga’s housing market is healthy despite a nationwide slowdown (Times Free Press) Nashville Knoxville Memphis Chattanooga Leading Pro Forma Markets 34 Charlotte has become a major U.S. financial center, and is now the second largest banking center in the United States after New York City. – Forbes Charlotte was rated the 3rd most attractive real estate market in America (PwC) Charlotte has been ranked No. 15 of the ‘Best Places to Live in the USA’ (U.S. News & World Report) Winston-Salem is North Carolina’s second-largest MSA as measured by deposits. National publications have declared Winston-Salem as one of the nation’s most technologically-advanced and entrepreneurial cities.  Winston-Salem named the 11th best city to start a business (WalletHub)  Winston-Salem was recognized as one of the top 10 most technologically-advanced cities (e.Republic) Greensboro-High Point is part of a greater metropolitan area called the Triad, which encompasses the three major cities of High Point, Winston-Salem and Greensboro, making the Triad a thriving urban hub. Greensboro is one of the 20 best MSAs in the country as measured by ‘Cost of Doing Business’ (Forbes) Greensboro was ranked No. 4 in the ‘National 2016 Digital Cities Survey Award’ (Center for Digital Government) North Carolina’s second-biggest city by population, Raleigh has been widely recognized by national outlets as one of the most attractive business and job markets in the country.  Raleigh was named No. 2 in ‘America’s Hottest Spots for Tech Jobs’ (Forbes)  Raleigh was recognized as the ‘Best Big City in the Southeast’ (Money Magazine) Winston-Salem Greensboro – High Point Raleigh Charlotte Leading Pro Forma Markets 35 Greenville, the third-largest MSA in South Carolina by deposits, has been increasingly recognized as one of the premier travel destinations in the country.  Greenville was named one of the ‘10 Best Emerging Destinations’ (USA Today)  Greenville was recognized amongst the nation’s ‘Top 10 Best Places to Live 2016’ (Men’s Journal) Charleston, the second-largest MSA in South Carolina by population, has received national attention as both a notable travel destination and a center of economic growth.  Charleston was named No. 1 ‘Small City in the U.S.’ (Condé Nast Traveler)  Charleston ranked No. 7 for ‘Economic Growth Potential’ in 2016 (Business Facilities) Roanoke, which is nestled in Virginia’s Blue Ridge mountains, has been increasingly recognized for its outstanding quality of life and stunning natural beauty.  Roanoke has been named one of the ‘South’s Best Places to Retire’ (Southern Living) Roanoke was named one of ‘America’s Best Small Cities on the Rise’ (Smarter Travel) Charleston, SC Roanoke, VA Greenville, SC For the 3 Years ended December 31, 2016 2015 2014 F or the 3 months ended, Dec. 31, 2016 Diluted per share excluding merger related expenses Return on average assets (excluding merger-related charges) Ne t i ncome127,225$ 95,510$ 70,471$ Return on average assets1.30% Merger-related charges11,746 4,797 - Adjustment due to merger-related charges0.07% Tax effect on merger-related charges(4,609) (1,882) - Return on average assets (excluding merger-related charges)1.37% Net income less merger-related charges 134,362 98,426 70,471 Diluted earnings per share2.90$ 2.53$ 2.01$ F or the 3 months ended, Dec. 31, 2016 Adjustment to diluted earnings per share due to merger-related charges0.17 0.08 - Return on average tangible common equity (ex cluding merger-related charges) D iluted earnings per share ex cluding merger-related charges3.07$ 2.61$ 2.01$ Return on average common equity9.61% Adjustment due to goodwill, core deposit and other intangible assets5.88% F or the 3 months ended, Dec. 31, 2016 Return on average tangible common equity15.49% Efficiency Ratio (ex cluding investment gains, ORE ex pense, and merger-related charges)Adjustment due to merger related charges0.85% Noninterest expense62,765$ Return on average tangible common equity (ex cluding merger-related charges)16.34% Other real estate expense44 Merger-related charges3,264 Noninterest expense excluding the impact of ORE expense, and merger-related charges59,457 Ne t i nte re s t i ncome89,413 Noninterest income30,743 Investment (gains) and losses on sales, net(395) Noninterest income excluding investment (gains) and losses on sales of securities, net30,347 Efficiency Ratio (ex cluding investment gains, ORE ex pense, and merger-related charges)49.6% Total average assets11,038$ Noninterest expense to avg. assets2.26% Adjustment due to ORE expenses and merger-related charges-0.12% Noninterest expense (excluding ORE expense, and merger-related charges) to avg. assets2.14% Non-GAAP Reconciliations – PNFP 36 Non-GAAP Reconciliations – BNCN 37 For the 3 Years ended December 31, 2016 2015 2014 For the 3 Years ended December 31, 3 months ended D ec 31, 2016 2016 2015 2003 Operating Earnings per Share, D iluted (1)Operating Return on Average Assets (1) Ne t i ncome (GAAP)62,913 $ 44,450 $ 29,390$ Ne t i ncome (GAAP)15,691 $ 62,913 $ 44,450 $ 3,407$ Transaction-related expenses, net of tax10,666 8,364 5,641 Transaction-related expenses, net of tax 5,746 10,666 8,364 - Loss on extinguishment of debt, net of tax 377 481 386 Loss on extinguishment of debt, net of tax377 377 481 - I ns ura nce s e ttl e me nt, ne t of ta x - - 484 Securities gains (losses), net of tax4 4 557 - Securities gains (losses), net of tax4 557 (322) Operating earnings (non-GAAP)21,810 $ 73,952 $ 52,738$ 3,407$ Operating earnings (non-GAAP) 73,952$ 52,738$ 35,255$ Average assets7,158,393 6,311,531 4,720,107 331,907 Weighted average fully diluted shares outstanding45,185 35,782 29,152 Operating return on average assets (non-GAAP)1.21% 1.17%1.12%1.03% Operating earnings per share, diluted (non-GAAP) 1.64$ 1.47$ 1.21$ F or the 3 months ended, Dec. 31, 2016 Operating Efficiency Ratio (3) Non-interest expense (GAAP)47,565 $ Transaction-related expenses9,121 Loss on extinguishment of debt598 Operating non-interest expense (non-GAAP)37,846 Net interest income, FTE61,454 Non-interest income - GAAP11,696 Securities gains (losses), net 6 Operating efficiency ratio (non-GAAP)51.74% F or the 3 months ended, Dec. 31, 2016 Operating Return on Average Tangible Common Equity (2) Ne t i ncome (GAAP)15,691$ Amortization of intangibles, net of tax 888 Transaction-related expenses, net of tax5,746 Loss on extinguishment of debt, net of tax377 Securities gains (losses), net of tax4 Operating tangible net income (non-GAAP)22,698 Average common shareholders equity864,656 Average intangible assets 241,802 Average tangible common shareholders' equity (non-GAAP) 622,854 Operating return on average tangible common equity (non-GAAP)14.50% Note: $ and share counts in thousands (1)Operating earnings per diluted share, operating non-interest income, operating non-interest expense, operating income tax expense, operating return on average assets, and operating return on average tangible common equity are non-GAAP financial measures and exclude the after-tax effect of transaction-related charges, loss on extinguishment of debt, securities gains (losses) and other one-time charges. Management believes that these non-GAAP performance measures provide additional useful information that allows readers to evaluate the ongoing performance of the company. (2)The tangible measures are non-GAAP financial measures and exclude the effect of period end or average balance of intangible assets. Management believes that these non-GAAP tangible measures provide additional useful information, particularly since these measures are widely used by industry analysts for companies with prior merger and acquisition activities. (3)Operating efficiency ratio is calculated by non-interest expense, excluding transaction-related expenses, and loss on extinguishment of debt, divided by the sum of FTE net interest income and non-interest income excluding securities gains (losses). Management believes this non-GAAP operating measure provides additional useful information that allows readers to evaluate the ongoing performance of the company.

Expansion   into   Chattanooga,   TN   Acquisition of CapitalMark Bank & Trust Acquisition   of   CapitalMark   Bank   &   Trust M.   Te r r y   Turner,   President   and   CEO Harold   R.   Carpenter,   EVP   and   CFO April   8,   2015 Safe   Harbor   Statement All statements, other than statements of historica l fact included in this presentation, are forward ‐ looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The words "expect," "anticipate," "intend," "plan," "beli eve," "seek," "estimate" and similar expressions are intended to identify such forward ‐ looking statements, but other statements not basedonhistoricalinformationmayalsobe considered forward ‐ looking including statements about the benefits to Pinnacle Financial Part ners, Inc. (“Pinnacle”) of the proposed merger transaction, Pinnacle’s future financial and operating results (including the anticipated impact of the m erger on Pinnacle’s earnings and tangible book value) and Pinnacle's plan s, objectives and it ti All fd lki tt t bj t t ik titi d th ft th t th tl lt f hi t f Pi l i n t en ti ons. All f orwar d ‐ l oo ki ng s t a t emen t saresu bj ec t t or i s k s, uncer t a i n ti es an d o th er f ac t s th a t may cause th eac t ua l resu lt s, per f ormance or ac hi evemen t so f Pi nnac l e to differ materially from any results expressed or implied by such forward ‐ looking statements. Such factors include, amo ng others, (1) the risk that the cost savings and any revenue synergies from the merger may not be real ized or take longer than anticipated to be realized, (2) disruption from the merger with customers , suppliers or employee relationships, (3) the occurrence of any event, change or other ci rcumstances that could give rise to the termination of the merger agreemen t, (4) the risk of successful integration of the two companies’ businesses, (5) the failure of CapitalMark’s shareholders to approve the merger, (6) the amount of the c osts, fees, expenses and charges related to the merger, (7) the ability to obtain required gover nmental approvals of the proposed terms of the merger, (8) reputational ris kandthereaction of the parties’ customers to the proposed merger, (9) the failure of the clos ing conditions to be satisfied, (10) the risk that the integration of Capit alMark’s operations with Pinnacle’s will be materially delayed or will be more costly or difficult th an expected, (11) the possibility that the merger may be more expensive to c omplete than anticipated, including as a result of unexpected factors or events, (12) the dilution caused by Pinnacle’s issuance of additional shares of its commo n stock in the merger and (13) general competitive, economic, politics of and market conditions. Additional factors which could affect the forward looking statements ca n be found in Pinnacle’s Annual Report on Form 10 ‐ K, Quarterly Reports on Form 10 ‐ Q, and Current Reports on Form 8 ‐ K filed with or furnished to the Securities and Exchange Commission (the “SEC”) and available on the SEC's website at http://www.sec.gov. Pinnacle a nd CapitalMark Bank &Trust (“Capital Mark”) disclaim any obligation to u pdate or revise any forward ‐ looking statements contained in this presentation which speak only as of th e date hereof, whether as a result of new information, future events or othe rwise. Additional Information and Where to Find ItIn connection with the proposed merger, Pinnacle i ntends to file a registration statement on Form S ‐ 4 with the SEC to register the shares of Pinnacle common stock that will be issued to CapitalMark’s shareholders in connection with the transaction. The registration statement will include a proxy statement/prospectus (t hat will be delivered to CapitalMark’s shareholders in connection with their required approval of th eproposedmerger)andotherrelevantmaterialsinconnectionwiththep roposed merger transaction involving Pinnacle Bank and CapitalMark. INVESTORS AND SECURITY HOLDERS ARE ENCOURAGED TO READ THE PROXY STATEMEN T/PROSPECTUS WHEN IT BECOMES AVAILABLE AND ANY OTHER RELEVANT DOCUMENTS TO BE FILED WITH THE SEC IN CONNECTION WITH THE PROPOSED TRANSACTION BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT PINNACLE, CAPITALMARK AND THE PROPOSED TRANSACTION.Investors and security holders may obtain free copies of these documents on ce they are available through the website maintained by the SEC at http://w ww.sec.gov. Free copies of the proxy statement/prospectus also may be obtai ned by directing a request by telephone or mail to Pi nnacle Financial Partners Inc., 150 3rd Avenue So uth, Suite 980, Nashville, TN 37201, Attention: Investor Relations (615) 744 ‐ 3742 or CapitalMark, 801 Br oad St., Chattanooga, TN 37402, Attention: Investor Relations (423) 386 ‐ 2828. 2 This communication shall not constitute an offer to sell or the solicitation of an offer to buy securities, nor shall there be any sale of securities in a ny jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. Pinnacle’s   Focus   is   on   Long ‐ term   Shareholder   Value 5 ‐ Year   Horizon Q1’   15   Progress PNFP   is   working   its   long ‐ term   plan 1. Expand CRE   asset   class     All   four   critical hires   currently   onboard   2 Expand to Tennessee’s other urban markets 2 . Expand   to   Tennessee’s   other   urban   markets a) Chattanooga    b) Memphis  Negotiated   acquisition   of   CapitalMark 3 Increase assets to > $10B 3 . Increase   assets   to   >   $10B 4. Increased   capital   allocation   to   fee   businesses   that   can   drive   shareholder   value     Completed   investment   in   BHG   which   is   projected   to   yield   7   –9%   EPS   accretion  Filed   broker ‐ dealer   a pp lication ,   PNFP   Ca p ital   pp , p Markets   to   be   operational   in   a   few   months 5. Continued focus   on   bottom line   results     Q1’   15   investor   call   on   4/22 3 Pinnacle   Has   Targeted   Four   Urban   Markets Chattanooga   is   an   important   piece   of   the   puzzle Significant Regional Bank Competitors 1. First Horizon2. Regions3. SunTrust 1. Bank of America2. Regions3. SunTrust 1. First Horizon2. SunTrust3. Regions 1. First Horizon2. SunTrust3. Regions Significant   Regional   Bank   Competitors 4 CapitalMark   Transaction   Rationale • CapitalMark   is   an   ideal   merger   partner   for   PNFP − Largest   local   bank   in   Chattanooga   MSA − 5 ‐ y ear   Loan   and   De p osit   CAGRs   of   18%   y p − Q1’15:   1.00%   ROAA,   11.7%   ROACE   and   59.8%   Efficiency   Ratio − FY   2014:   0.83%   ROAA,   10.0%   ROACE   and   58.4%   Efficiency   Ratio il k’ k h ii il k h lbl il bk • Cap i ta l Mar k’ s   mar k et   s h are   pos i t i ons   P i nnac l e   to   attac k   t h e   same   vu l nera bl e   reg i ona l   b an k s − 4 th in   Nashville − 4 th in   Chattanooga − 6 th in   Knoxville • CapitalMark’s   commercial   client   orientation   is   virtually   identical   to   Pinnacle’s • Attractive   financial   impact − $7+   billion   in   pro   forma   total   assets − Immediately   accretive   to   earnings;   approximately   5%   long ‐ term   EPS   accretion Less than 2% day one TBV dilution; a ccretive to tangible book value in 25 years 5 − Less   than   2%   day ‐ one   TBV   dilution;   a ccretive   to   tangible   book   value   in   2 . 5   years − Approximately   20%   IRR CapitalMark   is   an   Ideal   Partner   for   PNFP Since   its   founding   in   2007,   CapitalMark   has   produced   Pinnacle ‐ like   organic growth Assets Loans $391 $464   $662   $780   $828   $930   $968   $500$750 $1,000 $459   $584   $718   $765   $500$750 $1,000 $391   $0 $250 $500 2009 2010 2011 2012 2013 2014 Q1'15 $315   $328   $363   $0 $250 $500 2009 2010 2011 2012 2013 2014 Q1'15 Deposits Tangible   Common   Equity $ $77   $80   $100 $ $685 $781   $840   $1,000 $40   $46   $52   $ 67   $67   $25$50$75 $336   $406   $573   $ 673   $685   $250$500$750 6 Source: SNL   Financial,   Company   Documents Note:   Dollars   in   millions $0 2009 2010 2011 2012 2013 2014 Q1'15 $0 2009 2010 2011 2012 2013 2014 Q1'15 CapitalMark   is   an   Ideal   Partner   for   PNFP CapitalMark   has   matured   to   the   point   of   rapid   operating   leverage,   much   like   Pinnacle Net   Income   to   Common ROAA $4 913 $7,185 $9,042 $6,000$8,000 $10,000 $6,448 $5,629 0.72% 0.75% 0.65% 0 61% 0.83% 1.00% 0.60%0.80%1.00%1.20% 0.73% 0.91% $2,674 $3,129 $3,244 $4,291 $4 , 913 $0 $2,000$4,000 2009 2010 2011 2012 2013 2014 Q1'15* 0.58% 0 . 61% 0.00%0.20%0.40% 2009 2010 2011 2012 2013 2014 Q1'15 4.2% 4.0% 4.2%4.5% Net   Interest   Margin Efficiency   Ratio 72.7% 68.9% 70.0%75.0% 3.5% 3.6% 3.8% 3.8% 3.9% 3.3%3.6%3.9% 64.2% 62.4% 63.4% 58.4% 59.8% 55.0%60.0%65.0% 3.0% 2009 2010 2011 2012 2013 2014 Q1'15 7 50.0% 2009 2010 2011 2012 2013 2014 Q1'15 Source: SNL   Financial,   Company   Documents Note:   Dollars   in   thousands;   yellow   shading   indicates   net   income   attributable   to   realized   gain   on   securities   in   FY   2012   and   2013;   assumes   35%   tax   rate;   CapitalMark   became   a   fully ‐ taxable   entity   in   2011;   *   Q1’15   Net   Income   to   Common   annualized CapitalMark   is   an   Ideal   Partner   for   PNFP CapitalMark’s   disciplined   credit   culture   has   produced   outstanding   asset   quality NPLs   /   Loans NPAs   /   Assets 4.1% 2.7% 2.3% 2.4% 3.0%4.0%5.0% 3.7% 1.9% 17% 20%3.0%4.0% 0.1% 0.9% 0.8% 0.0%1.0%2.0% 2009 2010 2011 2012 2013 2014 Q1'15 1.2% 1.4% 1 . 7% 1.1% 1.0% 0.0%1.0% 2 . 0% 2009 2010 2011 2012 2013 2014 Q1'15 ALLL   /   Gross   Loans NCOs   /   Avg.   Loans 1.4% 1.8% 13% 1.3% 1.5%2.0% 1.2% 1.5% 1 . 3% 1.3% 1.2% 1.0% 1.0% 0.5%1.0% 1.5% 0.3% 0.1% 0.2% 0.5% 0.5% 00% 0.5%1.0% 8 Source: SNL   Financial,   Company   Documents Note:   Nonperforming   loans   and   assets   include   TDRs 0.0% 2009 2010 2011 2012 2013 2014 Q1'15 0 . 0% 0.0% 2009 2010 2011 2012 2013 2014 Q1'15 CapitalMark   is   an   Ideal   Partner   for   PNFP CapitalMark   is   a   “top ‐ quartile”   grower   that   should   actually   increase   PNFPs   growth   rate CapitalMark   vs   Selected   De   Novo   Banks $790 $883   $930   $900 $1,000 Assets  ‐  CapitalMark Assets  ‐  De   Novo   Bank   75th   Percentile Loans  ‐  CapitalMark $491   $710   $790   $718$781   $500$600$700$800 Loans  ‐  De   Novo   Bank   75th   Percentile Deposits  ‐  CapitalMark Deposits  ‐  De   Novo   Bank   75th   Percentile $205   $357   $407   $200$300$400 $500 $40   $0 $100 012345677.75 Year 9 Source: SNL   Financial Note: Bank   level   data;   Selected   de   novo   banks   defined   as   nationwide   de   novo   banks   founded   between   2003 ‐ 2008   with   total   assets   greater   than   $250   million   as   of   December   31,   2014   excluding   merger   targets   and   defunct   or   merged   banks (1):   As   of   December   31,   2014 CapitalMark   is   an   Ideal   Partner   for   PNFP CapitalMark   Bank   &   Trust PNFP   Long ‐ term   Targets CapitalMark’s   model   generally   matches   PNFP’s   with   great   potential   for   revenue   synergies Q1'15 3.85                                        % FY   2014 3.81                                        3yr   Avg 3.71                                        Q1'15 0.38                                        % FY   2 0 1 4 0.36                                      NIM NII / AA (1) 0.8%  ‐  1.0% 3.7%  ‐  3.9% FY 04 0.36 3yr   Avg 0.13                                        Q1'15 2.40                                        % FY   2014 2.34                                        3yr   Avg 2.40                                        Q1'15 59.8                                      % NII   /   AA   NIE   /   AA Efficienc 2.1%  ‐  2.3% FY   2014 58.4                                        3yr   Avg 61.4                                        Q1'15 1.00                                        % FY   2014 0.83                                        3yr   Avg 0.82                                        Efficienc y   Ratio ROAA 1.2%  ‐  1.4% ‐‐ Q1'15 11.70                                      % FY   2014 9.96                                        3yr   Avg 9.83                                        Q1'15 0.01                                        % FY   2014 0.46                                        3yr Avg 037 ROACE NCOs   /   Avg   Loans 0.2%  ‐  0.35% ‐‐ 3yr   Avg 0 . 37                                      10 Source: SNL   Financial,   Company   Documents Note:   Bank   level   data;   3 ‐ year   average   is   for   FY   2012 ‐ 2014 (1): Excludes   securities   gains CapitalMark   Positions   PNFP   to   Attack   Regionals Pinnacle   and   CapitalMark   are   “market ‐ best”   at   taking   share   from   legacy   market   leaders Nashville 2014 Market   Share k h Knoxville 2014 Market   Share Rk Iii 2014 2007 Ch Ran k Institution 2014 2000 C h ange 4Pinnacle   Financial   Partners   Inc. 9.36      %1.67      %7.69       % 10 Franklin   Financial   Network   Inc. 2.25      ‐        2.25       5First   Horizon   National   Corp. 6.72      5.13      1.59       7Fifth   Third   Bancorp 3.40      2.29      1.11       8 Wilson   Bank   Holdin g   Co. 3.39    2.34    1.05     R an k I nst i tut i on 2014 2007 Ch ange 6Pinnacle   Financial   Partners   Inc. 3.44      %0.03      %3.41       % 5BB&T   Corp. 7.95      6.19      1.76       18 CapitalMark   Bank   &   Trust 0.99      ‐        0.99       10 Clayton   HC   Inc. 1.72      1.10      0.62       8Bank   of   America   Cor p .1.96    2.00    ( 0.04 )    g 9 Wells   Fargo   &   Co. 3.03      2.05      0.98       1Bank   of   America   Corp. 15.30   14.59   0.71       6U.S.   Bancorp 3.63      7.35      (3.72)      3SunTrust   Banks   Inc. 12.37   18.60   (6.23)      2Regions   Financial   Corp. 15.19   29.06   (13.87)   p () 2SunTrust   Banks   Inc. 16.14   16.19   (0.05)      9Twin   Cities   Financial   Services   Inc. 1.80      1.96      (0.16)      4Home   Federal   Bank   of   Tennessee 10.62   10.87   (0.25)      1First   Horizon   National   Corp. 18.46   19.11   (0.65)      7 MoneyTree   Corp. 2.16      2.83      (0.67)      3Regions   Financial   Corp. 14.67 18.25 (3.58)    Chattanooga 2014 Market   Share Rank Institution 2014 2007 Change 4 CapitalMark   Bank   &   Trust 6.01      %0.52      %5.49       % 1 First Horizon National Corp 24 23 19 89 434 1 First   Horizon   National   Corp . 24 . 23 19 . 89   4 . 34     8 Sequatchie   Valley   Bancshares   Inc. 3.27      2.78      0.49       9First   Security   Group   Inc. 3.23      3.28      (0.05)      10 Bank   of   America   Corp. 2.67      2.81      (0.14)      6Cornerstone   Bancshares   Inc. 3.90      4.06      (0.16)      5First   Volunteer   Corp. 4.89      5.53      (0.64)      2 SunTrust Banks Inc. 18.74 21.01 (2.27) 11 Source:   SNL   Financial Note:   Deposit   data   as   of   June   30 th ;   tables   include   current   top   10   institutions   by   deposit   market   share 2 SunTrust   Banks   Inc. 18.74 21.01   (2.27)    7N   W   Services   Corp. 3.61      6.24      (2.63)      3Regions   Financial   Corp. 13.58   17.90   (4.32)      CapitalMark’s   Commercial   Strategy   is   Like   Pinnacle’s CapitalMark’s   team   of   relationship   managers   is   highly   experienced The   CapitalMark   Team Banker Years Banker Years R.   Craig   Holley 32 Banker   10 16 Kenny   C.   Dyer 37 Banker   11 16 R Ryan Murphy 33 Banker 12 15 R .   Ryan   Murphy 33 Banker   12 15 Banker   141Banker   13 14 Banker   236Banker   14 12 Banker   328Banker   15 11 Bk 4 27 Bk 16 10 B an k er   4 27 B an k er   16 10 Banker   524Banker   17 9 Banker   623Banker   18 9 Banker   720Banker   19 9 Banker   818Banker   20 8 Banker   918Banker   21 8 Average Years of Experience: 20 years 12 Source:   Company   Documents Average   Years   of   Experience:   20   years CapitalMark’s   Commercial   Strategy   is   Like   Pinnacle’s CapitalMark’s   loan   mix   highlights   its   commercial   orientation   CapitalMark PNFP Pro   Forma 7.0% 15.7% 0% 38 5% 5.2% 9.2% 18.0% 25.7% 1.8% 7.3% 16.0% 36.8% 4.8% 4. 0% 13.0% 16 6% 38 . 5% 3.5% 18.6% 23.3% 3.9% 13.7% 17 5% Loans   ($000) Loans   ($000) Loans   ($000) Construction   &   Land $322,466 7.0% Construction   &   Land $65,879 9.2% Construction   &   Land $388,345 7.3% 1 ‐ 4   Family 723,212           15.7% 1 ‐ 4   Family 128,896           18.0% 1 ‐ 4   Family 852,108           16.0% Multi ‐ Family 183,126           4.0% Multi ‐ Family 24,856             3.5% Multi ‐ Family 207,982           3.9% CRE  ‐  Income   Producing 596,446           13.0% CRE  ‐  Income   Producing 133,518           18.6% CRE  ‐  Income   Producing 729,964           13.7% 16 . 6% 17 . 5% CRE  ‐  Owner ‐ Occupied 764,519           16.6% CRE  ‐  Owner ‐ Occupied 167,532           23.3% CRE  ‐  Owner ‐ Occupied 932,051           17.5% C&I 1,773,960        38.5% C&I 184,563           25.7% C&I 1,958,523        36.8% Consumer   &   Other 240,336           5.2% Consumer   &   Other 12,683             1.8% Consumer   &   Other 253,019           4.8% Total $4,604,065 100.0% Total $717,927 100.0% Total $5,321,992 100.0% C&I   +   CRE  ‐  Owner ‐ Occupied   Loans : 55.1% C&I   +   CRE  ‐  Owner ‐ Occupied   Loans : 49.0% C&I   +   CRE  ‐  Owner ‐ Occupied   Loans : 54.3% 13 Source:   SNL   Financial Note:   Financial   data   as   of   December   31,   2014   per   Call   Reports;   excludes   purchase   accounting   adjustments Total   Commercial   Loans: 68.1% Total   Commercial   Loans: 67.6% Total   Commercial   Loans: 68.0% CapitalMark’s   Commercial   Strategy   is   Like   Pinnacle’s CapitalMark PNFP Pro   Forma CapitalMark’s   deposit   mix   highlights   its   commercial   orientation   27.6% 9.0% 19.3% 26.4% 26.5% 11.4% 63.4% 54 3% 62.1% Deposits   ($000) Deposits   ($000) Deposits   ($000) Non ‐ interest   Bearing $1,321,053 27.6% Non ‐ interest   Bearing $150,825 19.3% Non ‐ interest   Bearing $1,471,878 26.5% Int.   Bearing   Trans.   &   Savings 3,030,408        63.4% Int.   Bearing   Trans.   &   Savings 423,987           54.3% Int.   Bearing   Trans.   &   Savings 3,454,395        62.1% Time   Deposits 431,144           9.0% Time   Deposits 205,688           26.4% Time   Deposits 636,832           11.4% Total   Deposits $4,782,605 100.0% Total   Deposits $780,500 100.0% Total   Deposits $5,563,105 100.0% 54 . 3% 14 Source:   SNL   Financial;   Company   Documents Note:   Financial   data   as   of   December   31,   2014;   excludes   purchase   accounting   adjustments Transaction   Structure Consideration • Fixed   exchange   ratio   of   0.5000x • 90%   Stock   /   10%   Cash   consideration Oti ll d it iil PNFP ti • O p ti ons   ro ll e d ‐ over   i n t o   s i m il ar   PNFP   op ti ons • 9.7%   fully   diluted   ownership   for   CapitalMark • $ 22. 3 1   pe r   s h a r e ;   $ 1 8 7. 0   milli o n   in   t h e   agg r egate Transaction   Value (1) $3 pe sae ; $ 80 o te agg egate • Price   /   Q1   ’15   Tangible   Book   Value:   204%   • Price   /   Q1   ’15   Annualized   EPS:   19.2x CapitalMark   Leadership • R.   Craig   Holley   (Chairman,   President   and   CEO),   Kenny   C.   Dyer   (Banking   Group   President)   and   R.   Ryan   Murphy   (EVP   and   Business   Unit   Group   Head)   retained • 1 Board seat – Charles E. Brock 1   Board   seat   Charles   E.   Brock Expected   Closing • Late   Q3’   2015   /   Early   Q4’   2015 • Customary   regulatory   and   CapitalMark   shareholder   approvals   required 15 (1):    Based   on   CapitalMark’s   7.3   million   common   shares   outstanding,   1.7   million   options   with   a   WAEP   of   $8.82   and   PNFP’s   closing   stock   price   of   $44.61   as   of   April   7,   2015 • PNFP   shareholder   approval   is   not   required Transaction   Assumptions Consideration • 3.3   million   PNFP   Common   Shares   to   be   issued • $16   million   Cash   Consideration,   plus   SBLF   redemption   of   $18.2   million Purchase   Accounting • Mark   to   loan   portfolio   of   approximately   $20.5   million • Mark to OREO of 30% Accounting   Adjustments • Mark   to   OREO   of   30% • Core   deposit   intangible   of   1.5%   amortized   straight ‐ line   over   10   years Cost   Savings • 30%   cost   savings − Eventual   operating   environment   projected   to   be   similar   to   PNFP’s   Knoxville   franchise Approximately 80% phase in for FY 2016; 100% thereafter − Approximately   80%   phase ‐ in   for   FY   2016;   100%   thereafter Merger   Related   E • $ 11.5   million   after ‐ tax 16 E xpenses $ Comprehensive   Due   Diligence   Overview Key   Focus   Area Action Observation Risk   Management • Key   risk   managers   at   Pinnacle   participated   in   due   diligence   including   CEO,   CFO,   CAO,   CCO,   • Due   diligence   process   designed   to   be   consistent   with   Pinnacle   EWRM   practices   CRM,   etc. • Approximately   one   month Credit • Detail   loan   reviews   on   approximately   60%   of   loan   portfolio.   • Conducted   portfolio   review   of   consumer   loan   segments. • CapitalMark’s   client   selection   process   consistent   with   Pinnacle’s • No   pro   forma   loan   concentration   issues • Substantial   in ‐ market   focus Asset /   Liability   Sensitivity • Detail review   of   investment   securities   and   various   interest   rate   risk   scenarios • CapitalMark’s   balance   sheet   is   more   liability   sensitive   –expect   to   mitigate   for   rising   rates Non ‐ core   Funding • Deposit   book   reviewed   with   emphasis   on   li q uidit y   risk   and   de p osit   concentrations • CapitalMark’s   non ‐ core   funding is   higher   than   Pinnacle’s   –new   retail   branch   locations   should fortify core funding qy p should   fortify   core   funding Compliance • Compliance   functions   reviewed   by   Pinnacle   EWRM   manager   and   Chief   Compliance   Officer • CapitalMark   has   developed   a   comprehensive   and   effective   compliance   risk   management   process • Pinnacle due diligence team gained N fi di h ld dl il IT   &Operations Pinnacle due   diligence   team   gained   meaningful   understanding   of   IT   and   operational   practices • N o fi n di ngs   t h at   wou ld   d e l ay   operat i ona l   integration Personnel Practices   and Policies • Pinnacle due   diligence   team   gained   understanding   of   personnel   practices   and   • HR   policies generally   consistent   with   Pinnacle   policies • Benefits in the aggregate we believe will be 17 and   Policies policies   Benefits   in   the   aggregate   we believe   will   be   positively received Financial   Impact EPS   Impact • ~2.5%   accretive   in   2016 • ~ 45% accretive in 2017 4 . 5%   accretive   in   2017 Tangible   Book   Value   Impact • Dilution   at   close   of   approximately   1.7% • Accretive   to   tangible   book   value   in   2.5   years Pro   Forma   Capital • ~9%   TCE   /   TA • ~9.5%   Leverage   Ratio Capital • ~11.5%   Total   Capital IRR • Approximately 20% IRR 18 IRR • Approximately   20%   IRR Appendix • Overview   of   CapitalMark   Bank   &   Trust • 5 ‐ year   Financial   Summary • CapitalMark   Management   Biographies • Addition   to   PNFP   Board   of   Directors • Chattanooga   and   Tennessee   Market   Demographics • Deposit   Market   Share   – Tennessee • Deposit   Market   Share   –MSAs 19 Overview   of   CapitalMark   Bank   &   Trust PNFPCapitalMark   Bank   &   Trust Q1'15   Results Assets $968 Loans 765             Deposits 840 Deposits 840 TCE 80 ROAA 1.00 % ROAE 9.53 NIM 3.85 Efficiency   Ratio 59.8 NPAs   /   Assets 1.0 % TCE   /   TA 8.3 % Leverage 10.5 • Founded   in   2007 • 4   branches   strategically   located   in   key   TN   markets Total   RBC 11. 9 • Seasoned   management   team   with   long ‐ standing,   in ‐ market   customer   relationships • Commercial   business   model 20 • Strong   financial   performance Source:   SNL   Financial;   Company   Documents 5 ‐ Year   Financial   Summary For   the   Year   Ended   December   31, For   the   Quarter   Ended, Dollars   in   Thousands 2010 2011 2012 2013 2014 3/31/2015 Balance   Sheet Total   Assets $464,038 $662,071 $780,139 $828,163 $930,377 $968,268 Gross   Loans   (Incl.   HFS) 328,447 363,211 459,083 583,563 717,927 765,481 Deposits 405,961 572,967 672,541 684,751 780,500 840,426 Total   Equity 46,192 70,703 85,314 85,182 95,247 98,526 Gross   Loans   (Excl.   HFS)   /   Deposits 80.6 % 62.6 % 67.7 % 85.1 % 91.7 % 91.1 % Net   Loans   (Excl.   HFS)   /   Assets 69.2 53.5 57.5 69.5 76.1 78.3 CapitalCapitalTangible   Common   Equity   /   Tangible   Assets 10.0 % 7.9 % 8.6 % 8.1 % 8.3 % 8.3 % Tier   1   Leverage   Ratio 10.5 11.3 10.7 10.9 10.3 10.5 Tier   1   Capital   Ratio 12.9 16.1 15.6 13.5 11.8 11.1 Total   Capital   Ratio 14.2 17.1 16.7 14.6 12.7 11.9 Asset   Quality NPLs   (Incl.   TDRs)   /   Loans 4.14 % 2.73 % 2.29 % 2.36 % 0.87 % 0.80 % NPAs   (Incl.   TDRs)   /   Assets 3.74 1.91 1.44 1.70 1.05 0.99 Reserves   /   NPLs   (Incl.    TDRs) 44.3 45.9 58.8 51.4 114.5 119.3 Reserves   /   Loans   1.83 1.25 1.34 1.22 1.00 0.96 NCOs   /   Average   Loans 0.141.230.160.500.46 0.01 Earnin g s   &   Profitabilit y g y Net   Income   to   Common   Shareholders $3,129 $3,244 $6,448 $5,629 $7,185 $2,261 Net   Interest   Margin 4.17 % 4.03 % 3.55 % 3.78 % 3.81 % 3.85 % Efficiency   Ratio 68.9 64.2 62.4 63.4 58.4 59.8 Non ‐ Interest   Income   /   Avg.   Assets 0.26 0.25 0.23 0.40 0.36 0.38 Non ‐ Interest   Expense   /   Avg.   Assets 2.86 2.64 2.30 2.55 2.34 2.40 21 Source: SNL   Financial,   Company   Documents ROAA 0.75 0.65 0.91 0.73 0.83 1.00 ROAE 7.00 5.99 8.66 6.88 8.15 9.53 CapitalMark   Management   Biographies Mr. Holley is Chairman, President and Chief E xecutive Officer of CapitalMark Bank & Trust. Mr. Holley earned his Bachelor of Science degree in Economics at Auburn University in Auburn, Alabama in 1979, and is a 1987 graduate of the School of Banking of the Southat Louisiana State University. In 1998, he successfully completed Georgia State University’s Management Development Program atthe Center for Executive Education in Atlanta, Georgia; and is a 2002 graduate of the Center of Creative Leadership in Greensboro,North Carolina. Prior to founding CapitalMa rk, Mr. Holley worked for over 25 years with AmSouth Bank, serving as regional president for the bank’s southeast Tennessee/North Georgia area. He is a member of the boards of directors of the Nashville Branch of theFederal Reserve Bank of Atlanta and Siskin Children’s Institute. He is vice chairman of the Hunter Museum of American Art and pastchair of the Chattanooga Economic Development Council . In addition, Mr. Holley serves on the FIS national CEO Strategic PlanningAdvisory Council.Mr. Holley is a past member of the University of Tennessee at Chatta nooga College of Business Adviso ry Board and of the Chancellor’s Roundtable He has served on the boards of directors of the Chattanooga Area Chamber of Commerce United Way of Greater R.   Craig   Holley Ch i id Roundtable . He has served on the boards of directors of the Chattanooga Area Chamber of Commerce , United Way of Greater Chattanooga, ArtsBuild, Girls Preparatory School, Ochs Center for Metropolitan Studies, Chattanooga Neighborhood Enterprise, T.C.Thompson Children’s Hospital Foundation, Tennessee River Gorge Trust, Cherokee Area Council of the Boy Scouts of America, FirstThings First, and the YMCA of Metropolitan Chattanooga. Ch a i rman,   Pres id ent   and   Chief   Executive   Officer Mr. Dyer serves as the Banking Group President. He graduated from the McCallie School and earned his Bachelor of Science Degreefrom the University of Tennessee at Chattanooga, where he was co ‐ captain of the baseball team and a recipient of the Leadership Award during his tenure. Mr. Dyer graduated from the Stonier G raduate School of Banking, the T ennessee Bankers Association Advanced Commercial Lending School, and Regions Leadership University. A 33 ‐ year banking veteran, he was the former Chattanooga City President for Regions Bank. While at Regions, Mr. Dyer was named the 2005 Commercial Banking Executive of the Year for theMidSouth Region. He previously served as the Regional President of Frontier Bank. In 1978, he began his banking career as a management trainee with Pioneer Bank holding several management positions and eventually ascended to the position of President Kenneth   C.   Dyer   III Bankin g   Grou p   management trainee with Pioneer Bank holding several management positions and eventually ascended to the position of President in 1998. Mr. Dyer has served on several civic boards including the Advisory Board of the University of Tennessee at ChattanoogaDepartment of Finance, the United Way of Chattanooga, the Chattanooga Community Development Financial Institution,Chattanooga Neighborhood Enterprises, and Better Business Bur eau of Chattanooga. Additionally, he was president of McCallie School Alumni Association and was an active member the UTC Alumni Council. 22 g p President Source: Company   Documents CapitalMark   Management   Biographies Mr. Murphy serves as Business Unit Group Head. He graduated f rom the Baylor School in Chattanooga and earned a degree in Corporate Finance and Investment Management from the University of Alabama. In 1992, he earned his degree from The GraduateSchool of Banking of the South at LSU. In 1997, he earned the Certified Cash Manager designation. He began his banking career in1982 with First Tennessee Bank where he held posts varying from branch assistant manager, correspondent banking officer, andcorporate banking officer. He went on to work for AmSouth Ba nk in Chattanooga as commercial banking officer and later, Ryan   Murphy i i G department head of Commercial Banking for the Southeast Tennessee and North Georgia region. He served as the ChattanoogaRegional President for FSG Bank in Chattanooga. He serves on the board of Teen Challenge of the Mid ‐ South, Chattanooga Metropolitan YMCA and is a member of Rotary of Chattanooga. He has served on the boards of The Heart Association, SeniorNeighbors of Chattanooga and Chattanooga Pri son Ministries. In addition, Mr. Murphy has w orked in various capacities as a volunteer for the Boy Scouts, the Chattanooga Chamber of Commerce and the United Way of Chattanooga. Bus i ness   Un i t   G roup   Head 23 Source: Company   Documents Addition   to   PNFP   Board   of   Directors Charles E. Brock is President and Chief Executive Officer of Launch Tennessee, a state ‐ wide initiative to harness innovation, capital and the entrepreneurial spirit to make Tennessee the best place in the Southeast to start a business. He was formerly the ManagingPartner of FourBridges Capital Advisors, a middle ‐ market investment bank based in Chattanooga that serves clients throughout the Southeast. He has also served as the Executive Entrepreneur of CoLab, whose mission is to support entrepreneurs in the SE TN region.Additionally, Charlie is a founding partner of Chattanooga Renaissance Fund, Chattanooga's first angel capital group committed to helping fund and mentor startup companies in the region.In 1998, he helped start Foxmark Media, growing it into one of the nation's leading mall advertising companies, operating in over 35markets. As the company's CEO and largest shareholder, he structured three rounds of private financing before selling the companyin 2006 to Australian based EYE Corp, one of the world's leading out ‐ of ‐ home media companies. Prior to starting Foxmark, he held marketing and sales positions with Brock Candy Company and its su ccessor, Brach and Brock Confections. Mr. Brock has commercial banking experience as a loan officer with SunTrust Bank Mr Brock is an active member of the Nashville chapter of the Entrepreneurs banking experience as a loan officer with SunTrust Bank . Mr . Brock is an active member of the Nashville chapter of the Entrepreneurs Organization, a worldwide network of over 9,000 business owners . Charlie serves on the board of the Boys & Girls Club, Outreach Haiti, and as Endowment Chair at Good Shepherd Church. Mr. Brock has a B.A. from the University of the South, where he is a formermember of the Board of Trustees. Charlie holds a Series 7 and Series 63 license, and is also a Series 24 Registered Securities Principal. Charlie   Brock Director 24 Source: Company   Documents Chattanooga   Market  Chattanooga   is   Tennessee’s   4 th largest   MSA   as   measured   by   both   population   and   deposits   Economic   Drivers Recent   Corporate   Investments  Investments   Announced   Since   2010 • 147   total   projects;   57   new   projects • Over   $1.7   billion   invested • Over 25,000 new jobs  Diversified   industry   base • No   business   type   employs   greater   than   20%   of   the   Chattanooga   MSA   workforce • Over   28,000   businesses   employ   over   260,000   people generating ~$41 billion in annual Over   25,000   new   jobs • Corporations   include: people   generating   ~$41   billion   in   annual   sales  Tourism   over   $1   billion   in   revenue   for   first   time   in   2014  Volkswagen   Manufacturing   Plant   • $1   billion   investment   in   Chattanooga   since   20082008 • Over   3,200   Volkswagen   employees   &   9,500   indirect   supplier   employees • Estimated   $12   billion   income   growth   effect   in   Tennessee 25 Source: Company   Documents,   SNL   Financial,   Volkswagen   Group,   Chattanooga   Chamber   of   Commerce,   U.S.   Department   of   Labor,   Bureau   of   Labor   Statistics,   Hoover’s,   Nooga   Media Tennessee   Market   Demographics Tennessee   Market   Demographics Total Current 2014  ‐  2019E Current 2014  ‐  2019E Deposits Population Pop.   Growth Median   HHI Median   HHI   Growth Top 20 MSAs ($Ms) (000s) (%) ($) (%) Top   20   MSAs ($Ms) (000s) (%) ($) (%) Nashville,   TN $44,071 1,766 7.15 % $50,439 4.84 % Memphis,   TN ‐ MS ‐ AR 23,722 1,353 2.63 45,334 0.95 Knoxville,   TN 14,748 855 2.68 44,405 5.00 Chattanooga,   TN ‐ GA 8,505 544 3.81 41,704 0.45 Kingsport ‐ Bristol ‐ Bristol,   TN ‐ VA 4,283 310 0.00 41,083 10.41 Clarksville,   TN ‐ KY 3,264 286 12.32 47,492 19.92 Johnson   City,   TN 2,764 202 2.07 38,013 7.36 Jackson,   TN 2,029 131 0.95 39,102 0.90 Cleveland,   TN 1,572 119 3.76 38,586 3.81 Morristown,   TN 1,407 115 1.61 38,170 2.58 Cookeville TN 2 039 107 166 32 142 (2 96) Cookeville ,   TN 2 , 039 107 1 . 66 32 , 142 (2 . 96) Tullahoma ‐ Manchester,   TN 1,402 100 0.20 39,943 0.90 Sevierville,   TN 2,059 94 6.04 42,674 0.60 Greeneville,   TN 890 69 (0.45) 31,753 (2.92) Crossville,   TN 950 58 3.55 37,174 3.45 Athens,   TN 853 52 0.45 35,553 (4.18) Shelbyville,   TN 585 46 2.27 40,887 6.99 Lawrenceburg,   TN 579 42 0.90 35,333 3.60 McMinnville,   TN 796 40 (0.25) 34,464 5.10 Dyersburg,   TN 658 38 (0.25) 40,886 8.74 Tennessee $122,070 6,532 3.65 $43,390 3.81 26 Source: SNL   Financial Note:   Deposit   data   as   of   June   30,   2014   United   States $9,079,331 317,199 3.50 $51,579 4.58 Deposit   Market   Share   – Tennessee • PNFP   strengthens   its   Tennessee   footprint − Nearly   $5.5B   in   pro   forma   deposits Tennessee June   '14 Total   Market Deposits Share Rank Institutions ($M) (%) − #5   rank • Entrance   into   Chattanooga,   TN ‐ GA   MSA   and   Cleveland TN MSA 1Regions   Financial   Corp. 17,312 14.18 2First   Horizon   National   Corp. 16,052 13.15 3 SunTrust   Banks   Inc. 12,202 10.00 4Bank   of   America   Corp. 8,238 6.75 Pro   Forma 5,416 4.44 5 Pinnacle Financial Partners 4680 383 Cleveland ,   TN   MSA − Largest   locally ‐ headquartered   bank   by   deposit   market   share   in   Chattanooga   MSA − Chattanooga: $522 5 million in loans and 5 Pinnacle   Financial   Partners 4 , 680 3 . 83 6U.S.   Bancorp 2,622 2.15 7BB&T   Corp. 2,500 2.05 8First   South   Bancorp   Inc. 1,844 1.51 9 Wells   Fargo   &   Co. 1,790 1.47 10 Home   Federal   Bank   of   Tennessee 1,678 1.37 Chattanooga:   $522 . 5   million   in   loans   and   $581.7   million   in   deposits − Cleveland:   $69.0   million   in   loans   and   $109.9   million   in   deposits 11 Wilson   Bank   Holding   Company 1,610 1.32 12 Fifth   Third   Bancorp 1,555 1.27 13 Simmons   First   National   Corp. 1,555 1.27 14 Capital   Bank   Finl   Corp 1,361 1.11 15 BancorpSouth   Inc. 1,179 0.97 16 First Citizens Bancshares Inc 1177 096 • Expands   Knoxville,   TN   MSA   presence − CapitalMark’s   Knoxville   presence   includes   $174 0 million in loans and $148 8 million in 16 First   Citizens   Bancshares   Inc . 1 , 177 0 . 96 17 Franklin   Financial   Network   Inc 992 0.81 18 Clayton   HC   Inc. 976 0.80 19 First   Farmers   Merchants   Corp. 967 0.79 20 CapStar   Bank 871 0.71 24 CapitalMark   Bank   &   Trust 736 0.60 27 $174 . 0   million   in   loans   and   $148 . 8   million   in   deposits Source: SNL   Financial,   Company   Documents Note:   Loan   and   deposit   data   by   MSA   as   of   3/31/2015;   Chattanooga   data   includes   G&A   deposit   and   selected   loans   (includes   mortgage   HFS,   employee   and   director   loans   and   loan   suspense   items)   Totals 122,070 100.00 Deposit   Market   Share   –MSAs Chattanooga,   TN ‐ GA   (MSA) June   '14 Total   Market Deposits Share Rank Institutions ($M) (%) Knoxville,   TN   (MSA) June   '14 Total   Market Deposits Share Rank Institutions ($M) (%) Cleveland,   TN   (MSA) June   '14 Total   Market Deposits Share Rank Institutions ($M) (%) 1First   Horizon   National   Corp. 2,061 24.23 2SunTrust   Banks   Inc. 1,594 18.74 3Regions   Financial   Corp. 1,155 13.58 4CapitalMark   Bank   &   Trust 511 6.01 5First   Volunteer   Corp. 416 4.89 1First   Horizon   National   Corp. 2,722 18.46 2SunTrust   Banks   Inc. 2,381 16.14 3Regions   Financial   Corp. 2,163 14.67 4Home   Federal   Bank   of   Tennessee 1,566 10.62 5BB&T   Corp. 1,173 7.95 1First   Horizon   National   Corp. 266 16.91 2First   Citizens   Bancshares   Inc. 209 13.29 3BB&T   Corp. 203 12.92 4Regions   Financial   Corp. 201 12.78 5Bradley   County   Financial   Corp. 189 12.01 6 SmartFinancial   Inc. 332 3.90 7N   W   Services   Corp. 307 3.61 8 Sequatchie   Valley   Bcshs   Inc. 278 3.27 9First   Security   Group   Inc. 275 3.23 10 Bank   of   America   Corp. 227 2.67 11 LaFayette Bankshares Inc 208 244 Pro   Forma 654 4.43 6Pinnacle   Financial   Partners 508 3.44 7United   Community   Banks   Inc. 506 3.43 8Bank   of   America   Corp. 289 1.96 9Twin   Cities   Finl   Svcs   Inc. 265 1.80 10 Clayton HC Inc 253 172 6 United   Community   Banks   Inc. 95 6.02 7SunTrust   Banks   Inc. 92 5.83 8CapitalMark   Bank   &   Trust 79 5.03 9First   Volunteer   Corp. 73 4.65 10 First   Security   Group   Inc. 35 2.25 11 First Bank of Tennessee 32 207 11 LaFayette   Bankshares   Inc . 208 2 . 44 12 Community   Trust   &   Banking   Co. 115 1.35 13 Synovus   Financial   Corp. 114 1.34 14 General   Bancshares   Inc. 111 1.30 15 Community   National   Bank 104 1.22 1 6 Catoosa   Bancshares   Inc. 97 1.14 10 Clayton   HC   Inc . 253 1 . 72 11 U.S.   Bancorp 165 1.12 12 Foothills   Bank   &   Trust 165 1.12 13 Citizens   of   Grainger   Cnty   Corp 159 1.08 14 Capital   Bank   Finl   Corp 157 1.07 15 Communit y   Trust   Bancor p   Inc. 153 1.04 11 First   Bank   of   Tennessee 32 2 . 07 12 Educational   Svcs   of   Am   Inc. 31 1.99 13 Peoples   Bancshares   of   TN   Inc 29 1.83 14 Athens   Bancshares   Corporation 28 1.80 15 Andrew   Johnson   Bancshares   Inc. 10 0.62 Totals 1572 100 00 17 BB&T   Corp. 97 1.13 18 Wells   Fargo   &   Co. 90 1.06 19 Sequatchie   County   Bncp   Inc. 82 0.97 20 Tri ‐ States   Bankshares   Inc. 82 0.96 Totals 8 , 505 100.00 y p 16 TN   Valley   Financial   Hldgs   Inc. 148 1.01 17 CapitalMark   Bank   &   Trust 146 0.99 18 Mountain   Commerce   Bancorp   Inc 129 0.88 19 Robertson   Holding   Co.   L.P. 127 0.86 20 Peoples   Bank   of   the   South 118 0.80 Totals 1 , 572 100 . 00 28 Source: SNL   Financial Note:   Deposit   data   as   of   June   30,   2014   , Totals 14,748 100.00

Investor Call THIRD QUARTER 2020 M. TERRY TURNER, PRESIDENT AND CEO HAROLD R. CARPENTER, EVP AND CFO TIM HUESTIS, EVP AND CHIEF CREDIT OFFICER October 21, 2020 Time: 8:30 AM CDT Webcast: www.pnfp.com(investor relations) Audio only: 877-602-7944 Safe Harbor Statements Forward Looking Statements All statements, other than statements of historical fact, included in this presentation, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The words "expect," "anticipate," "intend," "may," "should," "plan," "believe," "seek," "estimate" and similar expressions are intended to identify such forward-looking statements, but other statements not based on historical information may also be considered forward-looking statements. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could cause the actual results to differ materially from the statements,including, but not limited to:(i) further deterioration in the financial condition of borrowers of Pinnacle Bank and its subsidiaries or BHG resulting in significant increases in loan losses and provisions for those losses and, in the case of BHG, substitutions; (ii) the further effects of the emergence of widespread health emergencies or pandemics, including the magnitude and duration of the COVID-19 pandemic and its impact on general economic and financial market conditions and on Pinnacle Financial'sand its customers' business, results of operations, asset quality and financial condition; (iii) the ability to grow and retain low-cost core deposits and retain large, uninsured deposits, including during times when Pinnacle Bank is seeking to lower rates it pays on deposits; (iv) the inability of Pinnacle Financial, or entities in which it has significant investments, like BHG, to maintain the historical growth rate of its, or such entities', loan portfolio; (v) changes in loan underwriting, credit review or loss reserve policies associated with economic conditions, examination conclusions, or regulatory developments; (vi) effectiveness of Pinnacle Financial'sasset management activities in improving, resolving or liquidating lower-quality assets; (vii) the impact of competition with other financial institutions, including pricing pressures and the resulting impact on Pinnacle Financial’sresults, including as a result of compression to net interest margin; (viii) adverse conditions in the national or local economies including in Pinnacle Financial'smarkets throughout Tennessee, North Carolina, South Carolina, Georgia and Virginia,particularly in commercial and residential real estate markets; (ix) fluctuations or differences in interest rates on loans or deposits from those that Pinnacle Financial is modeling or anticipating, including as a result of Pinnacle Bank's inability to better matchdeposit rates with the changes in the short-term rate environment, or that affect the yield curve; (x) the results of regulatory examinations; (xi) Pinnacle Financial'sability to identify potential candidates for, consummate, and achieve synergies from, potential future acquisitions; (xii) difficulties and delays in integrating acquired businesses or fully realizing costs savings and other benefits from acquisitions; (xiii) BHG's ability to profitably grow its business and successfully execute on its business plans; (xiv) risks of expansion into new geographic or product markets including the recent expansion into the Atlanta, Georgia metro market; (xv) anymatter that would cause Pinnacle Financial to conclude that there was impairment of any asset, including goodwill or other intangible assets; (xvi) reduced ability to attract additional financialadvisors (or failure of such advisors to cause their clients to switch to Pinnacle Bank), to retain financial advisors (including as a result of the competitive environment for associates) or otherwise to attract customers from other financial institutions; (xvii) deterioration in the valuation of other real estate owned and increased expenses associated therewith; (xviii) inability to comply with regulatory capital requirements, including those resulting from changes to capital calculation methodologies, required capital maintenance levels or regulatory requests or directives, particularly if Pinnacle Bank's level of applicable commercial real estate loans were to exceed percentage levels of total capital in guidelines recommended by its regulators; (xix) approval of the declaration of any dividend by Pinnacle Financial'sboard of directors; (xx) the vulnerability of Pinnacle Bank's network and online banking portals, and the systems of parties with whom Pinnacle Bank contracts, to unauthorized access, computer viruses, phishing schemes, spam attacks, human error, natural disasters, power loss and other security breaches; (xxi) the possibility of increased compliance and operational costs as a result of increased regulatory oversight (including by the Consumer Financial Protection Bureau), including oversight of companies in which Pinnacle Financial or Pinnacle Bank have significant investments, like BHG, and the development of additional banking products for Pinnacle Bank's corporate and consumer clients;(xxii) the risks associated with Pinnacle Financial and Pinnacle Bank being a minority investor in BHG, including the risk that the owners of a majority of the equity interests in BHG decide to sell the company; (xxiii) changes in state and federal legislation, regulations or policies applicable to banks and other financial service providers, like BHG, including regulatory or legislativedevelopments; (xxiv) the availability of and access to capital; (xxv) adverse results (including costs, fines, reputational harm, inability to obtain necessary approvals and/or other negative effects) from current or future litigation, regulatory examinations or other legal and/or regulatory actions, including as a result of Pinnacle Bank's participation in and execution of government programs related to the COVID-19 pandemic;and (xxvi) general competitive, economic, political and market conditions. Additional factors which could affect the forward lookingstatements can be found in Pinnacle Financial'sAnnual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K filed with the SEC and available on the SEC's website at http://www.sec.gov. Pinnacle Financial disclaims any obligation to update or revise any forward-looking statements contained in this presentation, which speak only as of the date hereof, whether as a result of new information, future events or otherwise. 2 Safe Harbor Statements Non-GAAP Financial Matters This presentation contains certain non-GAAP financial measures, including, without limitation, earnings per diluted common share, efficiency ratio, adjusted pre-tax, pre-provision net revenue and the ratio of noninterest expense to average assets, excluding in certain instances the impact of expenses related to other real estate owned, gains or losses on sale of investment securities, the charges associated with Pinnacle Financial'sbranch rationalization project, FHLB restructuring expenses, the sale of the remaining portion of Pinnacle Bank's non-prime automobile portfolio and other matters for the accounting periods presented. This presentation also includes non-GAAP financial measures which exclude the impact of loans originated under the PPP. This presentation may also contain certain other non-GAAP capital ratios and performance measures that exclude the impact of goodwill and core deposit intangibles associated with Pinnacle Financial'sacquisitions of BNC, Avenue Bank, Magna Bank, CapitalMarkBank & Trust, Mid-America Bancshares, Inc., Cavalry Bancorp, Inc. and other acquisitions which collectively are less material to the non-GAAP measure as well as the impact of Pinnacle Financial'sSeries B Preferred Stock. The presentation of the non-GAAP financial information is not intended to be considered in isolation or as a substitute for any measure prepared in accordance with GAAP. Because non-GAAP financial measures presented in this presentation are not measurements determined in accordance with GAAPand are susceptible to varying calculations, these non-GAAP financial measures, as presented, may not be comparable to other similarly titled measures presented by other companies. Pinnacle Financial believes that these non-GAAP financial measures facilitate making period-to-period comparisons and are meaningful indications of its operating performance. In addition, because intangible assets such as goodwill and the core deposit intangible, and the other items excluded each vary extensively from company to company, Pinnacle Financial believes that the presentation of this information allows investors to more easily compare Pinnacle Financial'sresults to the results of other companies. Pinnacle Financial'smanagement utilizes this non-GAAP financial information to compare Pinnacle Financial'soperating performance for 2020 versus certain periods in 2019 and to internally prepared projections. 3 3Q20 Financial Information Despite the difficult operating environment, thekey success measures of asset quality, core deposit growth, fee growth, pre-provision net revenue growth and tangible book value accretion were all very strong this quarter. 3Q20 Summary Results of Key GAAPMeasures 5 Total Revenues FD EPSNet Income Available to Common Shareholders Total Loans (millions) Total DepositsBook Value per Common Share NPA/ Loans & OREO Classified Asset Ratio NCOs $19.69 $23.32 $26.21 $31.60 $35.68 Tangible Book Value per Common Share** $7,715 $13,609 $16,077 $17,103 $22,004 Total Core Deposits (millions) $8,241 $15,260 $17,464 $19,346 $22,477 Total Loans (millions) $60,507 $116,295 $126,964 $145,722 $156,517 Adjusted Pre-Tax Pre-Provision Net Income* (millions) $0.78 $0.90 $1.22 $1.45 $1.45 FD EPS* CAGR 13.2% $118,327 $216,159 $240,887 $278,008 $297,008 Total Revenues CAGR 20.2% 3Q20 Summary Results of Key Non-GAAPMeasures 6 *: excluding merger-related charges, gains and losses on sales of investment securities, ORE expense (income), loss on sale of non-prime automobile portfolio, branch rationalization charges, FHLB restructuring charges and revaluation of deferred tax assets **: excluding goodwill, core deposit and other intangible assets Note: For a reconciliation of these Non-GAAP financial measures to the comparable GAAP measures, see slides 68-69. CAGR 22.2% CAGR 23.3% CAGR 12.6% CAGR 20.9% Classified Asset Ratio NCOs NPA/ Loans & OREO Loan demand is soft at this point in cycle Loan growth flattish in 3Q20 but we remain optimistic regarding future loan growth from recent hires $4,625 $4,737 $5,690 $6,458 $6,742 $6,998 $8,233 $8,357 $8,558 $9,817 $15,017 $15,520 $15,957 $16,730 $17,259 $17,630 $17,938 $18,611 $19,217 $19,600 $20,009 $22,257 $22,493 4.04% 3.20% 3.40% 3.60% 3.80% 4.00% 4.20% 4.40% 4.60% 4.80% 5.00% 5.20% 5.40% $2,000 $4,000 $6,000 $8,000 $10,000 $12,000 $14,000 $16,000 $18,000 $20,000 $22,000 $24,000 Loan Yields Average Loans (millions) 7 14.2% 14.6% 18.7% 13.3% 11.7% 4.5% 15.2% 0.0% 4.0% 8.0% 12.0% 16.0% 20.0% 24.0% Annual Organic Loan Growth (excludes Day 1 merger impact) Impact of PPPOrganic Growth *: Annualized growth for YTD 2020 Average Loan Growth 8 16.3% 11.8% 16.9% 14.6% 7.1% 27.1% 14.6% 0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 30.0% 35.0% 40.0% 45.0% Annual Organic Deposit Growth (excludes Day 1 merger impact) Est. Impact of PPPOrganic Growth Balance Sheet Growth Driven by Outsized Deposit Inflows Deposit growth has been remarkable this year reflecting our initiatives in that area $4,792 $4,885 $5,898 $6,787 $7,037 $7,093 $8,454 $8,791 $9,099 $10,394 $15,828 $16,092 $16,281 $16,949 $18,113 $18,368 $18,358 $18,865 $19,778 $20,079 $20,680 $24,807 $26,352 0.25% 0.43% 0.00% 0.30% 0.60% 0.90% 1.20% 1.50% 1.80% 2.10% 2.40% 2.70% $- $3,000 $6,000 $9,000 $12,000 $15,000 $18,000 $21,000 $24,000 $27,000 Avg. DepositsEOP FFS TargetCost of Deposits Avg. Deposits Deposit Rates *: Annualized growth for YTD 2020 Average Deposit Growth 3Q20 Strong Quarter for Loan Pricing Loan yields held very well in spite ofeconomic environment as RMs successfully obtain floors Note: Weighted Average EOP Coupon Trends –excluding PPP loans, leases and credit cards and the impact of purchase accounting adjustments and impact from early payoffs which result in immediate recognition of deferred fees and prepayment penalties and increase actual yields. 9 At September 30, 2020 37.7% 15.3% 4.3% 5.2% 37.4% All Loans LIBOR Prime T-Bill Fixed Rate <1Y Fixed Rate >1Y 45.7% 16.7% 0.8% 36.8% C&I 38.2% 3.9% 4.7% 53.0% CRE 53.4% 24.1% 1.3% 21.1% Construction Rate Index End-of-PeriodWeighted Average Coupon New Loans Weighted Average Coupon for the Quarter OriginationMix Mar. 31, 2020Jun. 30, 2020Sep. 30, 2020YOY Change4Q191Q202Q203Q203Q20 LIBOR3.80%2.85%2.84%(0.96)%4.13%3.51%3.15%3.13%35.1% 1-MO LIBOR0.99%0.16%0.15%(0.84)%1.79%1.43%0.35%0.16% Prime3.99%3.99%3.99%(0.00)%4.98%4.00%3.94%3.96%22.7% FFS target0.25%0.25%0.25%0.00%1.75%1.40%0.25%0.25% Fixedrate4.45%4.35%4.31%(0.14)%4.28%4.16%3.99%4.08%37.4% 5-YR UST0.37%0.29%0.28%(0.11)%1.61%1.14%0.36%0.27% Relationship Managers are Successfully Reducing Deposit Costs Focused reductions in deposit costs are getting results, future reductions on the horizon soon 10 •Recognized 58% beta on negotiated deposits and 95% on indexed deposits since 6/30/2019 •In the aggregate, interest-bearing transaction accounts at 52% beta •EOP weighted average rate on interest bearing transaction accounts –0.28% at 9/30/2020 •More deposit rate reductions expected, particularly in the lagging CD portfolio as well as negotiated accounts Deposit Rate Tranches Jun. 30, 2019 EOP Rates Jun. 30, 2020 EOP Rates Sep. 30, 2020 EOP Rates Jun. 19- Sept. 20 Changein EOP rates Deposit Beta (*) Sep. 30, 2020 % of Totals Noninterestbearing---------------26.6% Interest-bearing: Rate sheet 0.20%0.10%0.08%(0.12)%5.3%12.7% Negotiated 1.66%0.44%0.35%(1.31)%58.2%34.3% Indexed 2.43%0.32%0.29%(2.14)%95.1%11.6% CDs 2.32%1.59%1.34%(0.98)%43.6%15.0% TotalIBD 1.66%0.64%0.50%(1.16)%51.6%73.4% Total 1.28%0.47%0.37%(0.91)%40.4%100.0% $300 $1,358 $287 $38 $150 1.14% 0.00% 0.50% 1.00% 1.50% 2.00% 2.50% $- $200 $400 $600 $800 $1,000 $1,200 $1,400 Anticipated Funding MaturitiesCost of Maturities Estimated Wholesale Funding Maturities –Next 5 qtrs. (FHLB, Brokered deposits) (*) Calculated based on Fed funds rate of 2.25% at June 30, 2019 and 0% at Sept. 30, 2020 - $2,000 $4,000 $6,000 $8,000 $10,000 $12,000 $14,000 $16,000 $18,000 Actual/Estimated Discount Accretion Through Dec 2020 (in thousands) $62 mm $40 mm $24 mm Liquidity Sources ($mm)At 9.30.20At 6.30.20At 12.31.19 Cash and FFS$ 2,612.9$ 2,224.3$ 231.8 Unpledged investments3,364.63,012.42,447.2 Total on-balancesheet5,977.55,236.72,679.0 Other available sources: FHLB capacity3,159.72,357.92,058.8 Fed programs (1) 3,423.33,264.43,646.3 Totals$ 12,560.5$ 10,859.0$8,384.1 Liquidity Ramp Temporarily Impactful to NIM Deposit cost reductions and implementation of loan floors assist to offset impact 0.00% 0.50% 1.00% 1.50% 2.00% 2.50% $0 $500 $1,000 $1,500 $2,000 $2,500 $3,000 $3,500 Average quarterly yield Average balances ($ in millions) Quarterly Avg. FFS and IB Cash Avg FFS and IB CashYield on FFS and IB Cash Statusof Loan Floors 9.30.20 Notional Amount of Floors Annualized Net Interest Income Impact* Balance Sheet Hedge unwind (~$2.5mm/quarter –4Q21) $1.3B$9.9 M Balance Sheet Hedge still in effect through 12/24 $1.5B$18.1 M Clientloan floors$3.4B$20.3 M Totals$6.2B$48.3 M Floorsas a %age of floating and variable rate credit 54.843.7 (1): Funding available through PPPLF program not considered $166 $4 $135 $146 $361 $268 $145 13.31% 11.00% 12.00% 13.00% 14.00% 15.00% $- $100 $200 $300 $400 Ratio of Total Securities to Total Assets Net Quarterly Growth in Security Volumes * Assumes LIBOR at 15 basis points **:Excluding gains and losses on sales of investment securities. For a reconciliation of these Non-GAAP financial measures to the comparable GAAP measures, see slides 68-69. ^: Excluding the impact of PPP loans on average assets 12 PNFP Grew Fees at a Double-Digit Percentages Pace Linked-Quarter and YOY BHG and other fee areas provided for substantial growth 3Q202Q203Q19 Year-over-Year Change Rate Service charges $9,854$6,910 $10,193 (3.3%) Investment services 6,7345,971 6,270 7.4% Insurance commissions 2,2842,231 2,252 1.4% Gain on mortgage loans sold, net 19,45319,619 7,402 162.8% Investment gains and losses, net651(128)417 56.1% Trust fees3,9863,9583,593 10.9% Income from equity method investment26,44517,20832,248 (18.0%) Other: Interchange and other consumer fees10,9328,3239,597 13.9% Bank-owned life insurance4,5574,7264,558 0.0% Loan swap fees3656142,250 (83.8%) SBA loans sales 1,4699411,168 25.8% Gains (losses) on other equity investments460(278)584 (21.2%) Other3,8752,8592,087 85.7% Total noninterest income$91,065$72,954$82,619 10.2% Noninterest income/Average Assets1.07%0.89%1.21% (11.6%) Noninterest income**$90,414$73,082$82,202 10.0% Noninterest Income**/Total Average Assets1.06%0.90%1.20% (11.7%) Noninterest Income**/Total Average Assets^1.14%0.95%1.20% (5.1%) •Income from equity method investment in BHG up $9.0 million over last quarter •Wealth management fees are up 7% year-over-year. •Mortgage originations are up 69.3% year-over-year due to favorable interest rate environment, significant growth in revenue producers and strong housing in markets in which we operate •Interchange and other consumer fees are up nearly 14% year-over-year. •Other noninterest income up in 3Q20 due primarily to policy benefits from the firm’s bank-owned life insurance policies. *:Excluding the impact of ORE expense and FHLB restructuring charges **: Excluding the impact of ORE expense, securities gains and losses, net, and FHLB restructuring charges. For a reconciliation of these Non-GAAP financial measures to the comparable GAAP measures, see slide 68-69. 13 3Q202Q203Q19 Year-over-Year Growth % Salaries and employee benefits: Salaries$54,331$54,645$47,36914.7% Commissions3,8923,6113,6377.0% Cash and equity incentives 19,6774,82423,631(16.7%) Employee benefits and other12,20310,80711,2828.2% Total salaries and benefits$90,103$73,88785,9194.9% Equipment and occupancy21,62222,02620,3486.3% Other real estate owned, net1,7952,888655174.0% Marketing and other business development2,3212,1422,723(14.8%) Postage and supplies1,7612,0701,766(0.3%) Amortization of intangibles2,4172,4792,430(0.5%) Other noninterest expense: Deposit related expense6,0355,6774,77326.4% Lending related expense7,51410,4767,0756.2% Wealth management related expense51349942620.4% Other noninterest expense10,1969,4616,82649.4% Total other noninterest expense$24,258$26,11319,10027.0% Total noninterest expense$144,277$131,605$132,9418.5% Efficiency ratio48.5%48.1%47.8%1.6% Expense/Total Average Assets1.70%1.61%1.94%(12.4%) Noninterest expense *$140,491$125,847$132,2866.2% Efficiency ratio **47.3%46.0%47.6%(0.6%) Noninterest Expense*/Total Average Assets1.65%1.54%1.93%(14.5%) Headcount (FTE)2,596.52,577.52,456.05.7% PPNR Incentive Adjustment Impacts Expense Growth in 3Q20 Provides targets for PPNR growth in 2020 that shouldramp into PPNR growth in 2021 •3Q20 headcount up 140 FTEs compared to 3Q19. Headcount up 19 FTEs at Sept. 30, 2020 from June 30, 2020. •Incentive accruals for annual cash incentive plan increased to account for plan changes announced in 3Q20. •Lending related costs up in 2020 due to impact of CECL on off-balance sheet reserves, which were $18.9 mm YTD. •Other noninterest expense in 3Q20 increase over 3Q19 due primarily to FHLB prepayment penalties. Total Allowance for Credit Losses for loans = $288.6 mm or 1.28% of loans at September 30, 2020, or 1.43% excluding PPP loans PNFP Continues to Build Reserves in 3Q20 Unemployment and GDP forecast improved quarter over quarter (1)Calculation based on end of period loan balance (2)Net charge-off percentage calculation is annualized and in relation to avg. quarterly loan balances (3)For a reconciliation of this Non-GAAP financial measures to the comparable GAAP measures, see slide 68. •CECL modeling items of interest •Eight loan portfolio segments are subject to individual modeling techniques •3 rd party economic forecast model provides significant inputs into ACL calculation •Unemployment and GDP are primary economic forecast metrics •Weighted average of Baseline (50%), Optimistic (20%) and Pessimistic (30%) scenarios used in 3Q $’s in 000’sALL% of Loans Off-Balance Sheet Total ACL December 31, 2019$94,7770.48% (1) $2,364$97,141 Day One CECL impact$38,1030.19% (1) $8,774$46,877 Beginning –January 1, 2020$132,8800.67% (1) $11,138$144,018 Net Charge offs($10,155)0.20% (2) ($10,155) 1Q Provision$99,740$5,156$104,896 At March 31, 2020$222,4651.09% (1) $16,294$238,759 Net Charge offs($5,385)0.10% (2) ($5,385) 2Q Provision$68,292$4,500$72,792 At June30, 2020$285,3721.27% (1) $20,794$306,166 Net Charge Offs($13,057)0.23% (2) ($13,057) 3Q Provision$16,330$425$16,755 At September30, 2020$288,6451.28% (1) $21,219$309,864 At September 30, 2020 Excluding PPP Loans (3) 1.43% (1) Forecasted economicmetrics (1) BaseCase Outlook at:3Q201Q213Q211Q22 US UnemploymentRates 2Q2011.13%8.12%6.39%5.86% 3Q208.98%6.85%6.31%5.59% US Real GDP Change 2Q20(11.11%)(6.51%)(3.13%)(1.17%) 3Q20(4.23%)(2.87%)(1.11%).66% (1)Weighted metrics are used in PNFP CECL assessment. Unemployment rates are quarterly averages. US Real GDP rates are change in quarterly GDP from 4Q19 $65 $55 $44 $38 $32 $- $25 $50 $75 Remaining Purchase Accounting Discount Trends (millions of dollars) Note: Above amounts not included in ACL balances above •Continued positive feedback from client base •Roughly 14,000 applications and $2.3B in funding •Fees +$72mm, amortized using the effective yield method over the life of the loan •Unamortized fees recognized upon payoff or forgiveness of loan •Forgiveness activity is beginning to increase •As of quarter-end, just under 9% of borrowers have initiated forgiveness process •39% of forgiveness applications have been submitted to the SBA •As of October 15 th , 51 applications have been approved for forgiveness by the SBA •Simplified Approval Process should increase speed of forgiveness applications •Just over 8,000 PPP loans less than $50,000 should qualify for simplified approval •These loans represent half of all PPP loans but only 7% of approved loans and approximately 10% of expected fees PPP Loan Stratification Table as of 9/30/2020 (dollars in thousands) SBA Fee App Count* Approved Dollars * Average Ticket 1% ($2mm and above)167$ 614,964$ 3,682 3% ($350k to> $2mm)1,324973,148735 5% ($50kto $350k)5,438727,897134 5% (<$50k)**8,016167,16821 14,945$2,483,177$ 166 *Application count and approved dollars have been reduced for PPP loans returned to the SBA as of September 30, 2020 –approximately $161 mm returned. Research indicates that $468mm in PPP loans were to borrowers who previously did not have a loan or deposit account at PNFP previously. ** Eligible for the simplified application for forgiveness under the PPP 15 COVID-19 Impacted Industries Approved Dollars Hotel$ 42,592 Restaurant181,560 Retail188,954 Entertainment54,266 PPP Program a Differentiator for Pinnacle in 2020 Client feedback on PPP has been tremendous and creates optimism for future market share gains 16 $1.48 $2.08 $- $0.50 $1.00 $1.50 $2.00 $2.50 Adjusted Net PPNR per Share Note: For a reconciliation of the above Non-GAAP financial measures to the comparable GAAP measures, see slide 70. ($'s in thousands) 201720182019YTD 2020 PPNR Trends Net interest income $543,306$ 736,342$ 766,142$ 600,803 Noninterest income 144,904200,850263,826234,396 Noninterest expense 366,560452,867505,148413,231 PPNR before adjustments$ 321,650$ 484,325$ 524,820$ 421,968 Adjustments to PPNR Investment gains and losses$ 8,265$ 2,254$ 5,941$ (986) Loss on sale of non-prime automobile portfolio--1,536- ORE expense1,0797234,2287,098 Merger charges31,8438,259-- FHLB restructuring---4,861 Branch consolidation--3,189- Adjusted PPNR $ 362,837$ 495,561$539,714$ 432,941 PPNR growth rate, annualized63.8%36.6%8.9%7.2% Adjusted Net PPNR per share$5.64$6.40$ 7.03$ 5.73 PPNR/share growth rate, annualized11.5%13.5%9.8%8.9% PPNR Growth Now in Focus by Pinnacle Management Despite the operating environment, PPNR grows meaningfully in 3Q20, both linked quarter and YOY We believe key to 2021 is focusing on PPNR in 2020 PNFP Gaining Optimism about 2020 and 2021 The results of the Pandemic are not completely known, but we are confident in our model 4Q20 Outlook (in relation to 3Q20) Notes Average Loan GrowthFlat Anticipate PPP payoff/forgiveness cycle to begin before y/e with corresponding PPP fee recognition. Average DepositGrowth Low to mid-single digit growth (annualized) Should experiencefurther reduction in wholesale deposit balances in fourth quarter. Net interest incomeUp GAAP margin increase likely with recognition of PPP feeincome Fee incomeFlat Believe BHG performance will likely be consistent with 3Q20. Mortgage revenues likely to be down after record second and third quarters and based on volumes and rate volatility. ExpensesFlat to Down No anticipated meaningful change in expense base contemplated at this time. Incentive accrual catch up occurred in 3Q20. Net Charge offs Withheld Pending more information regarding pandemic’s depth and subsequent recovery prior to offering any prospective outlook Return on Average Assets Returnon Tangible Common Equity TangibleCommon Equity Longer term operating range of 8.75% to 9.75% Anticipate TCEto be within lower end of our longer-term operating range as liquidity build becomes less impactful. •Share Buy Back Program – •Last transaction on March 19, 2020 •Approximately $67.2 million remaining in authorization through Dec. 31, 2020 •Expect to seekreauthorization in January and evaluate whether to re-start program Capital Initiatives Could Return Early Next Year Tangible book value growth remains our focus, but capital initiatives should be considered •Subordinated Indebtedness – •$130 million of bank-level subordinated debt eligible for call beginning July 2020 •Not likely to redeem thesenotesfor several quarters –average rate of 3.4 % •Dividends – •Quarterly dividend of $0.16 per share •Anticipate maintaining dividend at this time •Tangible Book Value Growth – •Tangible book value up 77.9% since Y/E 2016 •Peer group median TBV growth from Y/E 2016 through 2Q20 is 23%, 75 th percentile growth is 37% $18.75 $20.06 $23.71 $27.27 $32.45 $35.68 Tangible Book Value per Common Share** 14.9% 18.2% 15.0% 19.0% 13.3% 2016 2017 2018 2019 YTD 2020 Focused growth in TBV per share Note: 2020 is annualized •Preferred Share Issuance – •9.0 mm depositary shares representing 1/40 th of a share of Series B noncumulative, perpetual preferred stock issued during the second quarter •$217.1mm netproceedsto be used to support general corporate needs **: excluding goodwill, core deposit and other intangible assets Note: For a reconciliation of these Non-GAAP financial measures to the comparable GAAP measures, see slides 68-69. Bankers’ Healthcare Group BHG’s differentiated model has proven very resilient thus far with continued strong originations, loan sales and yield/spread premium. Temporarily reverting to the gain on sale model early in the year provided meaningful pre-provision net revenue to BHG and to Pinnacle. Capital and reserve levels exceed “Great Recession” levels. BHG has also been successful with its first securitization consistent with its desire to convert a greater portion of its revenues to spread income. 20 Gain on Sale Model Drives Outperformance •3Q20 reflects largest origination and placement volume in firm history. •Spreads have been resilient for several years in spite ofinterest rate curve fluctuations. •BHG’s vast bank funding platform has proven to be extremely reliable with ready liquidity to acquire BHG loans and differentiating BHG from other online lenders Source: BHG Internal Data BHG’s Differentiated Model Continues to Outperform BHG continues to originate and sell loans at record levels while maintaining yields $206 $205 $232 $242 $302 $362 $396 $388 $429 $375 $452 $178 $181 $227 $200 $205 $325 $327 $230 $381 $387 $400 14.4% 13.9% 14.4% 15.8% 14.6% 14.6% 14.5% 13.8% 15.8% 14.2% 14.4% 5.2% 5.1% 5.2% 5.7% 5.4% 5.3% 5.3% 5.1% 5.2% 5.6% 4.9% 0.0% 1.8% 3.6% 5.4% 7.2% 9.0% 10.8% 12.6% 14.4% 16.2% 18.0% $0 $50 $100 $150 $200 $250 $300 $350 $400 $450 $500 1Q182Q183Q184Q181Q192Q193Q194Q191Q202Q203Q20 OriginationsPlacementsBorrower CouponBank Buy Rate - 200 400 600 0 500 1,000 1,500 201720182019YTD 2020 Bank Network Trends Total Banks in NetworkUnique buyers through first 3 quarters 21 •FICO scores continue to reflect a high caliber borrower base •Average FICO scores of 733 at origination for loans outstanding at Sep 30, 2020. •Historical credit results indicate that 70% of losses occur within first 36 months of origination •Data is through Sep 30, 2020,thus 2019 information includes 21 months of history. Steady improvement in credit over past 7-8 years. BHG Credit Quality Continues to Impress Sophisticated credit scoring models produce impressive results Historical FICO Scores Source: BHG Internal Data BHG’s Differentiated Model Continues to Outperform Consistently elevating FICOs are yielding steady improvement in portfolio performance 0%10%20%30%40%50%60%70%80%90%100% 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 <650650-699700-749750-799>800 22 BHG’s Differentiated Model Continues to Outperform Deferrals drop significantly in 3Q20, at just 3 loans •BHG received and approved roughly 5,800 deferral requests. Only 3 loans are still on payment deferral as of October 9 th •Loans coming off deferrals have shown a 95% re-perform rate Source: BHG Internal Data as of Sept. 30, 2020 0 1000 2000 3000 4000 5000 6000 4/3/20205/3/20206/3/20207/3/20208/3/20209/3/202010/3/2020 Active # of modifications per day 4.04% 3.31% 3.28% 2.40% 3.66% 4.55% 4.17% 3.64% 4.19% 4.20% 3.79% 3.73% 3.22% 3.74% 4.56% 4.71% 4.62% 7.43% $- $500 $1,000 $1,500 $2,000 $2,500 $3,000 $3,500 $4,000 0.00% 1.00% 2.00% 3.00% 4.00% 5.00% 6.00% 7.00% 8.00% 20122013201420152016201720182019Through Sep 2020 Total Ending Balance at outside banks only ($millions)Loss as a % of outstanding Recourse Obligation as a % of Outstanding 23 •Recourse obligation reserves increased to 7.43% of total loans outstanding (loans off-balance sheet) of > $3.4B •BHG has been able to build reserves at this timewhile maintaining its historically strong profitability BHG Credit Quality Continues to Impress Sophisticated credit scoring models produce impressive results Historical Charge Offs and Reserves (Green Bars –Balance of loans in bank network, $s in millions) Source: BHG Internal Data BHG’s Differentiated Model Continues to Outperform Recourse obligation reserve build continues in 3Q20 24 BHG Differentiated Model Continues to Outperform BHG believes its model is outperforming other online lenders by a wide margin $77,953 $121,194 $182,461 $0 $50,000 $100,000 $150,000 $200,000 201720182019Forecast 2020 Thousands BHG Net Earnings Big Year at BHG •Interest rate environment provided opportunity to access capital markets and execute on its first securitization •Closed a $160mm securitization in 3Q20. •Provides an additional funding source and diversification of BHG income streams •First commercial or consumer loan transaction to be rated ‘AA’ by Kroll on the inaugural issuance •Anticipate 2 nd securitization in early 2021 COVID-19 and our Borrowers All borrowers have been impacted by COVID-19 to some extent. It seems apparent that segments like hotels, restaurants, retail and entertainment have been most impacted by the loss of revenue from the national and local attempts to contain its spread. But it appears the CARES Act stimulus has been effective to date as the volume of deferrals shrank meaningfully with portfolio metrics actually improvingin 3Q20 in comparison to YE 2019. Asset Quality 0.41% 0.51% 0.55% 0.53% 0.40% NPA/ Loans & OREO 9.9% Classified Asset Ratio 0.11% Past Dues > 30 Days as a % of Total Loans OutstandingBalances Outstanding Balances, excluding PPP At Sept. 30At June 30At Mar. 31At Sept. 30At June 30At Mar. 31 Hotel$ 989,821$ 963,243$ 908,063$ 947,230$ 920,852$ 908,063 Retail$ 2,538,864$ 2,543,378$ 2,374,438$ 2,349,911$ 2,355,986$ 2,374,438 Restaurant$ 709,061$ 723,631$ 533,988$ 527,501$ 544,411$ 533,988 Entertainment$ 694,441$ 726,361$ 632,438$ 640,175$ 673,262$ 632,438 Totals$ 4,932,187$ 4,956,613$ 4,448,928$4,464,817$4,494,511$ 4,448,928 % of Total Loans21.9%21.9%21.7%22.1%22.1%21.7% COVID Related Segments: Asset Quality The volume of loans with payment deferrals has declined meaningfully Status of loan deferrals as of Oct. 16, 2020 •Loan deferrals reduced to 1.8% at October 16, 2020. Deferred $ Volume at Mar. 31, 2020 Deferred $ Volume at June 30, 2020 Deferred $ Volume at Sept. 30, 2020 Deferred $ Volume at Oct. 16, 2020 % of Total Loansin Category Hotels$130,129$809,562$438,534$269,36827.2% Retail167,277886,33852,96712,4750.5% Restaurant100,829260,30936,57625,3843.6% Entertainment29,261138,68011,46210,7681.6% All others352,4232,121,541184,72796,0490.5% Totals$779,919$4,216,430$724,266$414,0441.8% % of total loans3.8%18.7%3.2%1.8% 27 Hotel Portfolio Amounts as of 9.30.20 –Comments as of 10.16.20 28 Hotel Portfolio Highlights: •Hotel exposure represents 4.4% of total loan portfolio at 9.30.20 •Hotel CRE and Construction LTVs 55% –all first mortgage exposure •Less than 25% of our portfolio is full service; so little of revenue is based on food service or other ancillary services impacted by social distancing. No luxury brand properties. •Deferrals at Oct. 16 are 27.2% of total hotel portfolio •PPP loans totaling $42.6mm Hotel Portfolio by Product ('000s)Construction TermOther Totals at 9/30/2020 Total Commitments$ 224,593$ 841,562$ 71,371$ 1,137,526 Balances as of 9.30.20$ 123,715$ 805,426$ 60,680$ 989,821 Average balances$ 5,379$5,299$253$2,385 Average LTV at 9.30.2060%55%NM55% Deferredat 10.16.20$ 27,028$ 239,790$ 2,550$ 269,368 Classified Loans, incl. NPLs (9/30)-$8,407-$8,407 Past due and accruing (9/30)-$ 101-$ 101 Hotel Portfolio Amounts as of 9.30.20 –Comments as of 10.16.20 29 Hotel Construction Type, Delivery Dates, Volumes ADR, RevPAR & Occupancy Trendlines Note: Charts above include hotel loans greater than $1mm Restaurant Portfolio Amounts as of 9.30.20 –Comments as of 10.16.20 30 Restaurant Portfolio Highlights: •Restaurant exposure represents 3.2% of total loan portfolio at 9.30.20 •Nonperformers are only $442k at 9.30.20 •Deferrals at 10.16.20 are less than 4% of total restaurant portfolio •PPP loans totaling $181.6mm Restaurant Portfolio ('000)CREC&I Construction & Other Total 9/30/2020 Total Commitments$ 367,241$ 374,468$ 28,690$ 770,399 Balances as of 9.30.20$ 344,996$ 343,223$ 20,841$ 709,060 Average balances$ 885$ 194$ 321$319 Payment deferred at 10.16.20$ 19,464$ 5,920-$ 25,384 Average LTV at 9.30.2056%NM65%57% ClassifiedLoans, incl. NPLs (9/30)$ 8,125$ 8,968-$17,093 Past due and accruing (9/30)-$ 62$ 142$ 204 Retail Portfolio Amounts as of 9.30.20 –Comments as of 10.16.20 31 Retail Highlights •Retail exposure represents 11.3% of total loan portfolio at 9.30.20 •Extremely granular Nonowner-occupied CRE book –over 700 loans average $1.7mm •No mall exposure •23% of loans are single-tenant, averaging $1.1mm outstanding •Dollar General, Tractor Supply and 7-Eleven are most prevalent single tenants •Deferrals at 10.16.20 are 0.5% of total retail portfolio •PPP loans totaling $189.0mm Retail Portfolio by Product ('000) CRE– Non-Owner Occupied CRE– Owner OccupiedC&I Construction & Other Totalat 9/30/20 Total Commitments$ 1,207,625$ 454,249$ 1,117,132$ 286,336$ 3,065,342 Balances as of 9.30.20$ 1,181,996$418,392$ 741,592$ 196,884$ 2,538,864 Average balances as of 9.30.20$1,716$581$ 288$ 938$605 Payment deferred at 10.16.20$ 11,514$ 769$ 193-$ 12,476 ClassifiedLoans, incl. NPLs (9/30)$7,041$26,772$23,829$ 332$ 57,974 Past due and accruing (9/30)$ 465$ 59$59$ 200$ 783 Retail Portfolio Amounts as of 9.30.20 –Comments as of 10.16.20 32 Retail C&I Portfolio Highlights: •10 largest accounts represent 22.8% of balances •Consumer services includes gas stations w-convenience stores, nursery, garden and farm supply stores, clothing stores and pet supply stores •Food & Beverage includes specialty grocers and beer and wine distributors Retail CRE Owner Occupied Portfolio Highlights: •10 largest accounts represent 13.3% of balances •Real Estate & Construction largely flooring companies Entertainment Portfolio Amounts as of 9.30.20 –Comments as of 10.16.20 33 Entertainment Highlights: •Entertainment portfolio is approximately 3.1% of total loans •Over 50% of entertainment book is recording industry which is heavily weighted towards music publishing and royalty catalogs •Revenues fairly stabledue to digital music business •All low LTVs with significant access to capital •Our recording and publishing industry clients maintain a low overhead model •Film/TV studio exposure has strong guarantor support •More than 82% of the CRE is owner occupied •Deferrals at 10.16.20 are 1.6% of total entertainment portfolio •PPP loans totaling $54.3mm Entertainment Portfolio by Product ('000)CREC&IOther Total at 9/30/20 Total Commitments$ 198,409$ 718,823$21,752$ 938,984 Balances as of 9.30.20$ 194,317$ 480,157$ 19,966$ 694,440 Average balances as of 9.30.20$ 1,542$ 359$ 587$ 464 Payment deferred at 10.16.20$ 1,357$ 9,411-$ 10,768 ClassifiedLoans, incl. NPLs (9/30)$ 1,297$ 788-$ 2,085 Past due and accruing (9/30)$ 123--$ 123 Asset Quality Conclusions Amounts as of 9.30.20 –Comments as of 10.16.20 34 Extensive credit defense work accomplished in the third quarter, including a review of: •Pass grade loan exposure > $2mm •Low pass grade and non pass grade exposures > $500mm •In total, approximately 2,500 loans with approximately $10 billion in total exposure Positives resulting from the credit defense work: •Minor risk grade migration •Classified assets decreased during the third quarter •YTD net loan charge-offs annualized are 18bps •Nonperforming assets remained essentially flat •Loan deferrals decreased dramatically with no increase in past dues •Past due loans 11 bps at quarter end Moving Forward in this Pandemic All the impacts of the COVID-19 pandemic are unknown as yet. Duration and severity are likely a function of the length of time before a vaccine is readily available and the final aggregate amount of government stimulus that is injected –both unknowns at this time. At this juncture, we intend to continue our aggressive focus on protecting our associates, clients, communities and shareholders. Nevertheless, we believe our long-standing differentiated model for attracting talent and competing based on client intimacy should yield best-in-class growth during the pandemic and, more importantly, better position us for the inevitable share grab that will be available following this period that is already stressing client loyalty for our competitors. •Continue active monitoring of borrowers •Begin reductions in excess liquidity through mid 2021 •Continue focus on PPNR initiatives •Position for once in a generation market share gain opportunity Q4 Guidance: Focus on Building PPNR We have built liquidity and capital and thoroughly assessed loan risks during this crisis Moving Forward in this Pandemic Greenwich: “Record levels of Expected Bank Switching” According to a recent Greenwich Associates survey: •Large bank handling of clients in the pandemic has eroded bank loyalty among businesses and owners •3 in 10 companies cite intent to switch banks (2-3 times normal level) •During crises, mid-size and smaller banks more consistently win by delivering on “trust” and perceived helpfulness during PPP Source: Greenwich Associates Moving Forward in this Pandemic Pinnacle has built a differentiated service level National Bank A Regional Bank C Pinnacle Regional Bank A Regional Bank B 0% 5% 10% 15% 20% 25% 30% 5060708090 ExcellentClient Satisfaction Nashville Regional Bank B Regional Bank C Pinnacle Regional Bank A Community Bank B 0% 5% 10% 15% 20% 25% 30% 35% 405060708090 ExcellentClient Satisfaction Chattanooga Community Bank A Regional Bank C Pinnacle Regional Bank A Regional Bank B 10% 12% 14% 16% 18% 20% 22% 24% 5060708090 ExcellentClient Satisfaction Knoxville Regional Bank D Regional Bank C Pinnacle Regional Bank A Regional Bank B 0% 5% 10% 15% 20% 25% 30% 35% 405060708090100 ExcellentClient Satisfaction Memphis Regional Bank B National Bank B Pinnacle Regional Bank E National Bank A 0% 5% 10% 15% 20% 25% 30% 35% 40% 30405060708090 ExcellentClient Satisfaction Charlotte Regional Bank B National Bank B Pinnacle Regional Bank E National Bank A 0% 5% 10% 15% 20% 25% 30% 35% 40% 2030405060708090 ExcellentClient Satisfaction Greensboro Regional Bank B National Bank B Pinnacle National Bank C National Bank A 0% 5% 10% 15% 20% 25% 30% 35% 40% 45% 2030405060708090 ExcellentClient Satisfaction Raleigh Commercial Market Share Commercial Market Share Share and Satisfaction scores from Greenwich Associates Market Tracking Program for rolling 12 months ending June 30, 2020. Pinnacle data presented in markets where citations provide relevant insights. Insufficient number of citations in Atlanta, Greenville, Charleston and Roanoke. Nashville InstitutionRankYoY Growth %Growth Rank Pinnacle138.40%2 Bank Of America237.48%3 Regions Bank324.64%5 TruistBank415.49%9 First Horizon Bank517.22%7 Fifth Third Bank675.81%1 Franklin Synergy Bank7-0.11%10 U.S. Bank816.43%8 Wilson Bank and Trust918.54%6 Reliant Bank1037.09%4 Chattanooga InstitutionRankYoY Growth %Growth Rank First Horizon Bank122.16%2 TruistBank217.09%5 Regions Bank315.95%7 Pinnacle Bank450.92%1 Firstbank521.02%3 Bank Of America612.96%9 First Volunteer Bank721.01%4 Citizens Tri-County Bank813.48%8 Smartbank917.04%6 The Bank Of LA Fayette108.71%10 Knoxville InstitutionRankYoY Growth %Growth Rank TruistBank111.94%7 First Horizon Bank213.68%6 Regions Bank322.24%2 Pinnacle Bank427.79%1 Home Federal Bank Of TN511.59%8 Southeast Bank6-12.66%10 Bank Of America716.38%3 Mountain Commerce Bank816.33%4 Firstbank9-4.42%9 United Community Bank1014.32%5 Memphis InstitutionRankYoY Growth%Growth Rank First Horizon Bank137.65%2 Regions Bank222.14%4 Truist Bank32.64%9 Bank Of America418.05%5 Bancorpsouth Bank529.12%3 Pinnacle Bank641.39%1 Renasant Bank7-6.66%10 Independent Bank816.58%6 Trustmark National Bank96.20%8 Triumph Bank106.64%7 Charlotte InstitutionRankYoY Growth %Growth Rank Bank Of America134.13%4 Truist Bank2817.17%1 Wells Fargo312.24%9 Fifth Third Bank439.21%3 First-Citizens Bank & Trust529.72%5 South State Bank620.40%7 Pinnacle Bank746.27%2 First National Bank ofPA824.75%6 First Horizon Bank98.95%10 PNC Bank1015.35%8 Greensboro High Point InstitutionRankYoY Growth %GrowthRank TruistBank120.81%3 Wells Fargo223.55%1 Bank Of America318.84%6 Pinnacle Bank420.06%5 First-Citizens Bank & Trust517.32%7 First Bank622.76%2 First National Bank of PA715.62%8 First Horizon Bank8-1.52%10 Bank Of Oak Ridge920.15%4 PNC Bank1011.83%9 Raleigh InstitutionRankYoY Growth %Growth Rank Wells Fargo 123.81%5 Truist Bank217.15%8 First-Citizens Bank & Trust332.85%3 Bank Of America43.70%13 PNC Bank521.89%7 First Horizon Bank68.34%12 Towne Bank716.36%9 North State Bank824.22%4 The Fidelity Bank942.13%1 First National Bank OfPA1015.61%10 Fifth Third Bank1115.00%11 United Community Bank1222.01%6 Pinnacle Bank1336.28%2 Charleston InstitutionRankYoY Growth %Growth Rank Wells Fargo116.0%5 Bank Of America219.4%4 South State Bank321.6%2 TruistBank44.1%9 First-Citizens Bank & Trust 515.9%6 United Bank6 Synovus Bank714.2%7 Pinnacle Bank821.4%3 Southern First Bank913.5%8 The Bank Of South Carolina1023.6%1 Greenville InstitutionRankYoY Growth %Growth Rank TruistBank116.66%7 Wells Fargo213.52%9 Td Bank369.18%1 Bank Of America4-12.02%11 South State Bank525.70%4 First-Citizens Bank & Trust633.61%2 Southern First Bank721.05%6 United Community Bank827.87%3 Bank Of Travelers Rest924.95%5 Grandsouth Bank1010.80%10 United Bank11 Pinnacle Bank1216.16%8 Roanoke InstitutionRankYoY Growth %Growth Rank TruistBank112.72%7 Wells Fargo217.04%4 Pinnacle Bank328.32%1 American National Bank48.26%9 Carter Bank & Trust51.15%10 Atlantic Union Bank614.58%6 Bank Of Botetourt726.01%2 First-Citizens Bank & Trust824.32%3 Hometrust Bank911.92%8 The Bank Of Fincastle1016.76%5 Moving Forward in this Pandemic Pinnacle’s differentiated experience results in rapid growth Source: FDIC Deposit Market Share Report as of June 30, 2020 Moving Forward in this Pandemic PNFP’sabilitytogrow followingrecessions is well documented 48% 15% 9% 17% 65% PNFPPeer MedianBanking Industry 17% 13% 4% 8% 25% PNFP Peer Median Banking Industry Annual Loan Growth CAGR:2011 –2019 (%) AnnualLoan Growth CAGR: 2001 –2007 (%) Organic Loan Growth Inorganic Loan Growth throughAcquisitions Source: S&P Global Market Intelligence, FDIC Note: Proxy peers include SNV, TCF, FHN, WTFC, SSB, FNB, TCBI, HWC, PB, WAL, STL, UMBF, UMPQ, PACW, OZK, UBSI, FULT, BXS, ONB, SFNC and UCBI per Proxy (DEF 14A) filing as of 3/12/2020 Note: Total gross loan growth CAGR based off ofperiod end balances; Organic loan growth defined as CAGR of total gross loans less acquired loans within the period; Inorganic loan growth defined as the difference between total growth and organic growth 3Q20 Summary •Visibility onassetqualityisveryencouraging •EPS, PPNR and revenues are strong •BHG’s asset quality, loan originations, placements and spreads remain very strong •PNFPisextremelywellpositioned to take advantage of predicted and significant market share opportunity 42 Q&A THIRD QUARTER 2020 Supplemental Information Chart •Balance Sheet44 •Asset Quality59 •Income Statement64 •Peer Group71 43 Balance Sheet –Loan Portfolio ($ in millions)Amts. 3Q20 % 3Q20 Amts. 2Q20 % 2Q20 Amts. 3Q19 %s 3Q19 Amts. 3Q18 %s 3Q18 C&I $6,144.927.4%$6,293.727.9%$5,891.030.5%$5,006.228.7% C&I –Paycheck Protection Program 2,251.010.0%2,222.69.9%---- CRE –Owner Occ. 2,748.112.2%2,708.312.0%2,595.813.4%2,688.215.4% Total C&I & O/O CRE $11,144.049.6%$11,224.649.8%$8,486.843.9%$7,694.444.1% CRE –Investment 4,648.520.7%4,822.521.4%4,443.723.0%3,818.121.8% CRE –Multifamily and other 572.02.6%561.52.5%669.73.5%708.84.1% C&D and Land 2,728.412.1%2,574.511.5%2,253.311.6%2,059.011.8% Total CRE & Construction $7,948.935.4%$7,958.535.4%$7,366.738.1%$6,585.937.7% Consumer RE 3,041.013.5%3,042.613.5%3,025.515.6%2,815.216.1% Consumer and other 343.51.5%294.51.3%466.62.4%368.52.1% Total Other $3,384.515.0%$3,337.114.8%$3,492.118.0%$3,183.718.2% Total loans $22,477.4100.0%$22,520.2100.0%$19,345.6100.0%$17,464.0100.0% 44 ($ in millions)TOTAL PINNACLETENNESSEE LOANSCAROLINAS/ VA LOANSATLANTAOTHER UNIT LOANS* Amts. 3Q20 Amts. 3Q19 Amts. 3Q20 Amts. 3Q19 Amts. 3Q20 Amts. 3Q19 Amts. 3Q20 Amts. 3Q19 Amts. 3Q20 Amts. 3Q19 C&I $6,144.9$5,891.0$4,371.2$4,381.2$858.0$834.1$27.4-$888.3$675.7 C&I –Paycheck Protection Program 2,251.0-------2,251.0- CRE –Owner Occ. 2,748.12,595.81,597.61,477.5979.4957.317.8-153.3161.1 Total C&I & O/O CRE $11,144.0$8,486.8$5,968.8$5,858.7$1,837.4$1,791.4$45.2-$3,292.6$836.8 CRE –Investment 4,648.54,443.71,931.51,844.92,583.82,540.97.5-125.758.0 CRE –Multifamily and other 572.0669.7444.0462.0126.5186.9--1.520.8 C&D and Land 2,728.42,253.31,470.71,299.51,224.9929.12.1-30.724.6 Total CRE & Construction $7,948.9$7,366.7$3,846.2$3,606.4$3,935.2$3,656.9$9.6-$157.9$103.4 Consumer RE 3,041.03,025.51,757.71,500.01,165.41,205.28.0-109.9320.3 Consumer and other 343.5466.6176.4289.342.286.30.1-124.891.0 Total Other $3,384.5$3,492.1$1,934.1$1,789.3$1,207.6$1,291.5$8.1-$234.7$411.3 Total Loans $22,477.4$19,345.6$11,749.1$11,254.3$6,980.2$6,739.8$62.9-$3,685.2$1,351.5 Average Ticket Size (in ‘000s) $271.5$277.2$400.5$391.6$217.1$203.7$850.0-$222.1$169.5 Balance Sheet –Loan Portfolio 45 Note: Percentages noted in red text represent year-over-year growth rates. *: Represents mortgage, associate banking, automobile finance and various other business lines. Balance Sheet –Loan Portfolio ($ in millions) TOTAL PINNACLEC&I & O/O CRECRE & CONSTRUCTIONOTHER LOANS* Amts. 3Q20 Amts. 3Q19 Amts. 3Q20 Amts. 3Q19 Amts. 3Q20 Amts. 3Q19 Amts. 3Q20 Amts. 3Q19 Nashville $6,500.4 $6,237.8 $2,851.9 $2,901.2$2,574.4$2,246.6$1,074.1$1,089.9 Knoxville 1,763.3 1,696.4 1,034.8 1,031.1488.4483.9240.1181.5 Music and Entertainment 536.5 411.6 397.5 293.520.920.1118.198.0 Chattanooga 1,416.1 1,363.4 827.8 807.0315.6319.7272.7236.8 Memphis 1,532.8 1,545.1 856.8 825.8446.9536.1229.1183.1 Total Tennessee $11,749.1 $11,254.3 $5,968.8 $5,858.7$3,846.2$3,606.4$1,934.1$1,789.3 Greensboro/Highpoint 1,689.4 1,679.3 568.9 585.0880.8817.3239.7277.0 Charlotte 2,109.0 1,955.6 484.2 472.11,221.51,082.3403.3401.1 Raleigh 1,206.0 1,165.6 172.2 203.3887.7809.4146.1152.9 Charleston 838.5 895.3 202.4 171.3383.9443.4252.2280.5 Greenville 418.3 437.9 119.3 120.9253.6269.145.447.9 Roanoke 590.8 490.0 179.0 136.1292.1222.1119.7131.8 SBA 128.2 116.1 111.4 102.715.613.31.20.2 Total Carolina/VA $6,980.2 $6,739.8 $1,837.4 $1,791.4$3,935.2$3,656.9$1,207.6$1,291.5 Atlanta 62.9- 45.2 - 9.6 - 8.1 - Paycheck ProtectionProgram 2,251.0- 2,251.0 - - - - - Other 1,434.2 1,351.5 1,041.6 836.8157.9103.5234.7411.3 Total $22,477.4 $19,345.6 $11,144.0 $8,486.9$7,948.9$7,366.7$3,384.5$3,492.1 46 Note: Percentages noted in red text represent year-over-year growth rates. *: Represents mortgage, associate banking, automobile finance and various other business lines. Balance Sheet –Loan Portfolio ($ in millions)Amts. 3Q20 % 3Q20 Amts. 2Q20 % 2Q20 Amts. 3Q19 % 3Q19 Amts. 3Q18 % 3Q18 Residential –Spec $251.91.1%$321.71.4% $360.01.9%$321.61.8% Residential –Custom 164.30.7%165.90.8% 129.10.7%146.00.8% Residential –Condo 0.40.0%1.20.0% 1.00.0%-0.0% Commercial Construct. 1,826.68.1%1,623.57.2% 1,369.17.1%1,112.56.4% Land Dev–Residential 280.91.3%272.91.2% 243.31.3%166.01.0% Land Dev –Commercial 122.30.5%115.60.5% 92.20.5%191.21.1% Land Dev –Mixed Use 21.00.1%13.20.1% 4.40.0%38.00.2% Land –Unimproved 61.00.3%60.50.3% 54.20.3%83.70.5% Total Constructionand Land Dev. $2,728.412.1%$2,574.511.5% $2,253.311.6%$2,059.011.8% 47 Balance Sheet –Loan Portfolio ($ in millions)TOTAL PINNACLETENNESSEE LOANSCAROLINAS/VA LOANS ATLANTA LOANSOTHER UNIT LOANS Amts. 3Q20 Amts. 3Q19 Amts. 3Q20 Amts. 3Q19 Amts. 3Q20 Amts. 3Q19 Amts. 3Q20 Amts. 3Q19 Amts. 3Q20 Amts. 3Q19 Residential –Spec $251.9$360.0 $178.2 $251.0 $73.5 $107.6 $- $ - $0.2 $1.5 Residential –Custom 164.3129.1 97.0 76.6 66.6 50.4 - - 0.7 2.1 Residential –Condo 0.41.0 0.4 1.0 - - - - - - Commercial Construct. 1,826.61,369.1 886.3 728.6 924.4 639.2 1.4 - 14.5 1.3 Land Dev–Residential 280.9243.3 177.3 149.7 89.3 78.0 0.7 - 13.6 15.6 Land Dev –Commercial 122.392.2 80.8 53.3 40.9 37.0 - - 0.6 1.9 Land Dev –Mixed Use 21.04.4 4.4 3.8 16.6 0.5 - - - - Land –Unimproved 61.054.2 46.2 35.5 13.6 16.5 - - 1.2 2.3 Total Constructionand Land Dev. $2,728.4$2,253.3 $1,470.6 $1,299.5 $1,224.9 $929.1 $2.1 $ - $30.8 $24.7 Average Ticket Size (in ‘000s) $688.7$551.5 $701.7 $628.7 $685.4 $480.9 $694.7 $- $405.6 $283.6 48 Balance Sheet –Loan Portfolio ($ in millions) Total NOO and MultifamilyTotal ConstructionTotal NOO and Construction Amts. 3Q20 Amts. 2Q20 Amts. 3Q19 Amts. 3Q20 Amts. 2Q20 Amts. 3Q19 Amts. 3Q20 Amts. 2Q20 Amts. 3Q19 Multifamily $571.6$590.4$669.7$651.0$548.4$430.0$1,222.6$1,138.8$1,099.7 Hospitality 773.2730.3782.1122.3113.039.0895.5843.3821.1 Retail 1,319.01,325.81,336.4201.2180.3143.11,520.21,506.11,479.5 Office 801.1806.5795.7185.9166.887.4987.0973.3883.1 Warehouse 762.3922.7708.1329.7287.9294.71,092.01,210.61,002.8 Medical 474.6482.5396.3124.2122.9135.5598.8605.4531.8 Other 518.7525.8425.11,114.11,155.21,123.61,632.81,681.01,548.7 Total $5,220.5$5,384.0$5,113.4$2,728.4$2,574.5$2,253.3 $7,948.9$7,958.5$7,366.7 Average Ticket Size (in ‘000s) $1,889.2$1,907.7$1,789.4$688.7$627.0$551.5 $1,182.8$1,149.4$1,061.9 49 Balance Sheet –Loan Portfolio Lines of Credit 50 ($'s in millions) 6/30/20199/30/201912/31/20193/31/20206/30/20209/30/2020 Linked Qtr. Change CRE –Investment & Construction Net Active Balance$ 3,591.00 $ 3,814.50 $ 3,870.10 $ 3,929.10 $ 4,090.80 $4,067.10($23.70) Net Available Credit2,736.80 2,894.50 3,002.60 3,018.50 3,029.60 3,060.3030.70 Total Exposure6,327.80 6,708.90 6,872.90 6,947.60 7,120.30 7,127.507.10 % Funded56.7%56.9%56.3%56.6%57.5%57.1%-0.4% C&I and O/O CRE Net Active Balance$ 3,832.20 $ 3,805.10 $ 3,911.20 $ 4,214.00 $ 3,702.60 $3,630.10($72.50) Net Available Credit3,671.00 3,784.90 3,694.00 3,693.70 4,312.10 4,734.50422.40 Total Exposure7,503.20 7,590.20 7,605.10 7,907.60 8,014.70 8,364.60349.90 % Funded51.1%50.1%51.4%53.3%46.2%43.4%-2.8% Consumer Net Active Balance$ 1,291.20 $ 1,354.10 $ 1,340.00 $ 1,364.20 $ 1,333.30 $1,302.20($31.10) Net Available Credit1,373.00 1,412.00 1,445.30 1,477.40 1,534.10 1,583.2049.10 Total Exposure2,664.20 2,766.10 2,785.20 2,841.40 2,867.60 2,885.6018.20 % Funded48.5%49.0%48.1%48.0%46.5%45.1%-1.4% Totals Net Active Balance$ 8,714.40 $ 8,973.70 $ 9,121.30 $ 9,507.30 $ 9,126.70 $8,999.40($127.30) Net Available Credit7,780.80 8,091.40 8,141.90 8,189.60 8,875.80 9,378.00502.20 Total Exposure16,495.20 17,065.20 17,263.20 17,696.60 18,002.60 18,377.70375.20 % Funded52.8%52.6%52.8%53.7%50.7%49.0%-1.7% 51 Balance Sheet –Loan Portfolio -0.20% -0.10% 0.00% 0.10% 0.20% 0.30% 0.40% 0.50% CREConstructionC&INet commercial charge offs Net Commercial Loan Charge Offs by Loan Type 2016201720182019YTD 2020 Annualized -1.00% 0.00% 1.00% 2.00% 3.00% 4.00% 5.00% 6.00% 7.00% 8.00% Consumer REConsumer and otherNet consumer charge offs Net Consumer Loan Charge Offs by Loan Type 2016201720182019YTD 2020 Annualized Balance Sheet –Loan Portfolio ($ in thousands) Description3Q202Q201Q204Q193Q192Q19 Loans secured by real estate: Construction, land development, and other loans: 1-4 family residentialconstruction loans$527,743$580,193$582,106$578,443$575,975$564,339 Other constructionloans and all land development and other land loans2,200,6961,994,3011,938,8311,852,0401,677,3281,553,630 Loans included in the 100% test$2,728,439$2,574,494$2,520,937$2,430,483$2,253,303$2,117,969 Securedby multifamily (5 or more) residential properties$578,948$574,328$551,963$631,616$686,385$726,744 Loans securedby other nonfarm nonresidential properties4,648,4574,822,5374,520,2344,418,6584,443,6874,252,098 Financed realestate not secured by real estate 503,081493,494309,990317,949306,738310,371 Loansincluded in the 300% test$8,458,925$8,464,853$7,903,124$7,798,706$7,690,113$7,407,182 Total Risk-Based Capital$3,146,468$3,078,671$2,993,005$2,906,853$2,818,988$2,563,617 %ofTotal Risk-Based Capital 100% Test –Constructionand LandDevelopment87%84%84%84%80%83% 300% Test –Construction and Land Development + NOOCRE + Multifamily269%275%264%268%273%289% 52 Balance Sheet –Deposit Portfolio ($ in millions) TOTAL DEPOSITSCORE DEPOSITSNONCORE DEPOSITS TOTAL PINNACLETRANSACTION AND MMDACDsPUBLIC FUNDS and OTHER DEPOSITS 3Q203Q193Q203Q193Q203Q193Q203Q19 Nashville$9,597.4$7,716.1$8,864.6$6,855.3$487.7$561.6$245.1$299.2 Knoxville2,283.81,647.02,132.91,485.6105.0118.245.943.2 Music and Entertainment296.5305.4288.1298.51.91.76.55.2 Memphis1,250.2912.01,035.6709.1147.7148.266.954.7 Chattanooga1,415.71,008.21,305.4883.254.960.855.464.2 Total Tennessee$14,843.6$11,588.7$13,626.6$10,231.7$797.2$890.5$419.8$466.5 Greensboro/Highpoint2,414.21,982.61,970.31,569.7277.8280.3166.1132.6 Charlotte1,547.01,231.21,269.6899.6169.1209.1108.3122.5 Charleston1,103.7954.4948.0743.1127.0172.328.739.0 Raleigh748.0635.9682.6557.945.954.919.523.1 Roanoke809.3648.9680.2493.8107.5131.721.623.4 Greenville359.3328.2267.9208.770.683.720.835.8 Total Carolinas / VA$6,981.5$5,781.2$5,818.6$4,472.8$797.9$932.0$365.0$376.4 Atlanta37.5-37.5----- Other4,681.42,630.8907.6528.418.448.13,755.42,054.3 Total$26,544.0$20,000.7$20,390.3$15,232.9$1,613.5$1,870.6$4,540.2$2,897.2 53 Note: Percentages noted in red text represent year-over-year growth rates. Balance Sheet –Bond Portfolio Conservative bond portfolio ●Investmentsto Total Assets of 13.3% 54 3.4% 2.5% 33.1% 4.7% 3.8% 52.5% Agency/TreasuryCorporatesMBSAsset BackedCMOsMunicipals Portfolio: September 30, 2020 Total Investments $4.5billion Net Unrealized Gain$102.8 million QuarterDurationAvg. Yield-TE 3Q204.7%2.4% 2Q204.6%2.6% 1Q204.3%2.8% 4Q194.8%2.9% 3Q194.4%3.0% 2Q194.1%3.2% 1Q193.7%3.4% 4Q183.6%3.2% 3Q184.4%3.1% 2Q183.9%2.9% 1Q183.5%2.9% 4Q173.5%2.7% 55 Note: See slide 71for peer group utilized in the above analysis. Source: S&P Global 74% 77% 79% 80% 76% 26% 23% 21% 20% 24% Sep. 2019Dec. 2019Mar. 2020Jun. 2020Sep. 2020 Effective Bond Portfolio Composition End of Period Fixed RateVariable Rate Balance Sheet –Bond Portfolio 2.39 13.3 - 5.0 10.0 15.0 20.0 25.0 30.0 35.0 40.0 - 0.50 1.00 1.50 2.00 2.50 3.00 3.50 4.00 2015Q32015Q42016Q12016Q22016Q32016Q42017Q12017Q22017Q32017Q42018Q12018Q22018Q32018Q42019Q12019Q22019Q32019Q42020Q12020Q22020Q3 % of Total Assets Bond Yields PNFP - Bond YieldsPeer Median - Bond Yields PNFP - % of Total AssetsPeer Median - % of Total Assets Interest Rate Sensitivity 56 2.1% 1.0% 0.3% -0.9% -0.3% 0.4% -0.2% -2.6% -0.9% -0.7% 0.6% -1.1% 0.5% 0.8% -3.0% -2.0% -1.0% 0.0% 1.0% 2.0% 3.0% 1Q192Q193Q194Q191Q202Q203Q20 Net Interest Income % D Rate Shock Scenarios Ramp +100Ramp -100 4.1% 2.2% 1.0% -1.2% -0.3% 0.6% -0.1% -5.3% -2.1% -1.7% 0.6% -3.1% 0.0% 0.6% -6.0% -4.0% -2.0% 0.0% 2.0% 4.0% 6.0% 1Q192Q193Q194Q191Q202Q203Q20 Net Interest Income % D Rate Ramp Scenarios Shock +100Shock -100 IRR analysis indicates neutral balance sheet positioning; 100bp +/-ramps and shocks generate <1% NII moves NIM Adjusted for PPP and Liquidity Impact 57 Estimate that both PPP and Liquidity Build negatively impacted 3Q20 NIM by 0.40% (2) Yields computed on tax-exempt instruments on a tax equivalent basis and included $7.3 million of taxable equivalent income for the three months ended Sept. 30, 2020 compared to $7.5 million for the three months ended September 30, 2019. The tax-exempt benefit has been reduced by the projected impact of tax-exempt income that will be disallowed pursuant to IRS Regulations as of and for the then current period presented. (1) Average balances of nonperforming loans are included in the above amounts. (3) Net interest margin is the result of annualized net interest income calculated on a tax equivalent basis divided by average interest-earning assets for the period. Actual Avg Balances 3Q20 ProForma Adjustments Adjusted Avg Balances after PF EntriesInterest ProForma Adjustments Adjusted Interest after PF Entries Rates/ Yields ProForma Yield/ Rate Adj. Adj. Yield/ Rates after PF Entries Loans (1)(2) $ 22,493 $ (2,235) a $ 20,258 $ 224.5 $ (15.6) a $ 208.9 4.04%2.77% a 4.19% Securities (2) Taxable2,226 2,226 8.38.3 1.43%1.48% Tax-exempt2,194 2,194 15.0 15.0 3.37%3.29% Other1521520.60.61.62%1.62% Fed funds sold & Interest- bearing deposits3,127 (2,616) b 511 0.8 $ (0.7) b 0.1 0.10%0.10% b 0.10% $ 30,192 (4,851)$ 25,341 $ 249.2 $ (16.3)$ 232.9 3.38%3.79% Nonearning assets3,647 3,647 $ 33,839 $ (4,851)$ 28,988 Total deposits and Interest- bearing liabilities28,731 (4,851) a,b 23,880 42.6 (7.2) a,b 35.4 0.59%0.59% a,b 0.59% Other liabilities342 342 Stockholders' equity4,766 4,766 $ 33,839 $ (4,851)$ 28,988 Net Interest income$ 206.6 $ (9.0)$ 197.5 Net interest margin (3) 2.82%0.40%3.22% Pro Forma Adjustments a Average balances of PPP loans carried during 3Q20 at an average yield of 2.77%; assume funded from all funding sources. b Estimated average balances of excess liquidity carried during 3Q20 with average yield of 0.10%; assume funded from all funding sources. Current Expected Credit Losses Allowance for Credit Losses December 31, 2019 Probable Incurred Losses January 1, 2020 CECLAdoption March 31, 2020 CECL June 30, 2020 CECL September 30, 2020 CECL Amount% of LoansAmount% of LoansAmount% of LoansAmount% of LoansAmount% of Loans Commercial and Industrial $ 36,112 0.57%$ 59,114 0.94%$ 88,032 1.30%$ 100,6101.60% *$ 102,2081.66% * Commercial Real Estate33,369 0.43%28,894 0.37%55,748 0.72%107,2291.33%106,2851.33% Construction and Land Development 12,662 0.52%9,537 0.39%38,911 1.54%41,8971.63%41,2221.51% Consumer Real Estate8,054 0.26%29,109 0.95%32,997 1.06%29,3580.96%31,9491.05% Consumer and Other4,5801.58%6,226 2.15%6,776 2.29%6,2782.13%6,9812.03% Allowance for Loan Losses$ 94,777 0.48%$ 132,880 0.67%$ 222,464 1.09%$ 285,3721.41%* 288,6451.43%* Reserve for unfunded commitments2,364 11,138 16,294 20,79421,219 Allowance for Credit Losses -Total$ 97,141 $ 154,018 $ 238,758 $ 306,166$ 309,864 * Reserve percentages for C&I and total loans at June 30, 2020 and September 30, 2020 exclude SBA PPP loans Asset Quality (*) >30 days past due (**) Excludes past due loans rated substandard 59 ($in millions)September 30, 2020 AS A % OF TOTALLOANS June 30, 2020 AS A % OF TOTALLOANS September 30, 2019 AS A % OF TOTALLOANS NPLs and > 90 days Const. and land development $3,1520.01%$3,2300.01%$2,0470.01% Consumer RE 22,1760.10%23,2550.10%23,8620.12% CRE –Owner Occupied 10,6250.05%11,8060.05%11,9080.06% CRE –Non-Owner Occupied 5,8600.03%10,4540.05%10,6830.06% Total real estate $41,6820.19%$48,7450.22%48,5000.25% C&I 28,9480.13%15,2390.07%26,4380.14% Other7600.01%5600.00%7760.00% Total loans $71,3900.32%$64,5440.29%$75,7140.39% Classified loans and ORE Substandard commercial loans$261,7741.16%$288,9061.28%$306,9201.59% Doubtful commercial loans-0.00%-0.00%10.00% Other impaired loans25,3160.11%25,6940.11%25,8590.12% 90 days past due and accruing (**)1,3130.01%1,6820.01%2,3850.01% Other real estate19,4450.09%22,0800.10%30,0490.16% Other repossessed assets-0.00%250.00%-0.00% Total$307,8491.37%$338,3871.50%$363,2141.80% Pinnacle Bank classified asset ratio9.9%11.2%13.5% Hotel Portfolio Amounts as of 9.30.20 –Comments as of 10.16.20 60 Top 10 Hotel Borrowers 10 Largest Hotel Loans Location Exposure at 9.30.20 ('000s)Loan TypeFlag Hotel Property Type Deferral at 10.16.20 LITTLE ROCK, AR $ 32,894Term MarriottFull ServiceNo CHATTANOOGA, TN 31,161Construction MarriottLimited ServiceNo HUNTSVILLE, AL 28,896Term MarriottFull ServiceNo CHATTANOOGA, TN 26,578Term MarriottLimited ServiceYes FRANKLIN, TN 25,263Construction HiltonFull ServiceNo WALLAND, TN 25,000Term IndependentResort Conference CenterNo NASHVILLE, TN 25,000Term InterContinentalFull ServiceNo FRANKLIN, TN 24,661Term HiltonFull ServiceYes HAYMARKET, VA 18,602Term MarriottLimited ServiceNo CHATTANOOGA, TN 17,805Term MarriottFull ServiceYes $ 255,860 20.4% of hotel loans PNFP Hotel Property Type Descriptions are as follows: Economy–The economy sector often is used to categorize the smaller, older, low-rise buildings. Characteristics include limited to noservice and some may even have exterior room access. An economy hotel is for the budget minded traveler and examples of flags include; Motel 6, Americas Best Value Inn, La Quinta, Comfort Inn, BaymontInn, Red Roof Inn, Super 8, Fairfield Inn, or perhaps an independent roadside property. Limited Service –This sector is also known as select service and may offer limited food & beverage options. These properties often include amenities such as a business center, fitness room, and pool, and are represented by brands like Hilton Garden Inn, Truby Hilton, Courtyard by Marriott and Hyatt Place. Extended Stay-Extended Stay hotels include provisions for cooking within individual rooms or suites, and the average stay is often a week or more. Full Service -Full servicehotels are generally mid-price, upscale or luxury hotels with a restaurant, lounge facilities, and meeting space as well as minimum service levels often including bell service and room service. Other –Property types not included in the above type descriptions including resort/conference center hotels, Airbnb and bed and breakfast hotel types. Restaurant Portfolio Amounts as of 9.30.20 –Comments as of 10.16.20 61 Location Exposure at 9.30.20 ('000s) Franchise Name Deferral at 10.16.20 NASHVILLE, TN $ 7,572 Local/Independent No SEVIERVILLE, TN 5,000Burger KingNo CLEMMONS, NC 4,643BojanglesNo STATESVILLE, NC 4,203Cici’sPizzaNo COLUMBIA, SC 3,957Local/IndependentNo NASHVILLE, TN 3,838Local/IndependentNo RALEIGH, NC 3,114Local/ IndependentNo ERWIN, TN 2,946BojanglesNo MOUNT PLEASANT, SC 2,578Local/IndependentNo CHARLESTON, SC 2,530Local/IndependentNo $ 40,3815.7% of Restaurant portfolio Top 10 Non Owner-OccupiedCRE Restaurant Borrowers Location Exposure at 9.30.20 ('000s) LTV at 9.30.20Food Service TypeDeferral at 10.16.20 Nashville,TN$ 40,72237%Fine DiningYes Lebanon, TN36,000 Stock of Subs Casual DiningNo Morristown, TN23,065FF&EQuick ServiceNo Dallas, TX15,21544%Fine DiningYes Nashville,TN14,00178%QuickServiceNo Columbia,TN10,38871%Quick ServiceNo $138,39119.5% of Restaurant portfolio C&I and Owner-Occupied CRE Restaurant Borrowers with Exposure Greater than $10mm PNFP Restaurant Property Type Descriptions are as follows: Casual Dining –Target market could be the traveling public with in-store dining and wait staff. Limited bar service. Fine Dining –Target market are those customers looking for a complete dining experience. Full bar and wine service. Quick Service –Most likely a drive through facility with counter ordering. No wait staff and/or very limited alcoholic beverage service. CRE Loans –PNFP has provided funding to developer or restaurant owner who leases facility to their restaurant entity which could be an independent operator or a franchise. Other –Other properties include bars, caterers, etc. Note: Charts exclude PPP loans. 62 10 Largest Retail Relationships Exposure at 9.30.20 ('000s) Loan Type Tenant Type Deferral at 10.16.20 NEW BERN, NC $ 26,392 TermRetail Power Center or Lifestyle Center No DELRAY BEACH, FL 26,000 TermGrocery Anchored Shopping Center No GREENSBORO, NC24,552TermGrocery Anchored Shopping CenterYes OLAR, SC21,699TermRetail Power Center or Lifestyle CenterNo NASHVILLE, TN 19,266 TermNon-Anchored Multi Tenant Shopping Center No FORT MILL, SC16,266TermNon-Anchored Multi Tenant Shopping CenterNo SUMMERVILLE, SC16,013TermGrocery Anchored Shopping CenterNo NASHVILLE, TN15,010TermSingle TenantNo NASHVILLE, TN 14,856 TermGrocery Anchored Shopping Center No CARY, NC14,847TermGrocery Anchored Shopping CenterNo $ 194,9018.1% of Retail Portfolio NOO CRE Retail Portfolio Amounts as of 9.30.20 –Comments as of 10.16.20 Tenant Type Descriptions are as follows: •Grocery Anchored Shopping Centeris otherwise known as the “Neighborhood Center”, this is a convenience orientedcenter and usually services a 3-mile radius. The grocery anchored encompasses 30-50% of the GLA, and the typical number of tenants range from 5-20 stores. •Other Retail Anchored Shopping Center this is a larger center that services the local area, howeveroffers a wider range of apparel, merchandise, more soft goods and convenience-service oriented stores than neighbor centers. Several tenants maybe considered anchors and thetypical number of stores range from 15-40. •Non-Anchored, Multi-Tenant Shopping Center also considered a convenience center, is among the smallest of centers, whose tenants provide a narrow mix of goods and personal services to a very limited trade area. •Regional Mall consists of general merchandise or fashion-oriented offerings.Typically, enclosed with inward-facing stores and parking surrounds the outside perimeter. •Retail Power Center or Lifestyle Center –A power center is comprised of category-dominant anchors over 60% of the GLA. There are usually 3-5+ anchor tenants, and services a wider trade area. A Lifestyle center is an upscale dining, shopping, and entertainment venue in an outdoor setting. •Single Tenant property is fully occupied by a single user and often feature a NNN lease structure. Top 10 Retail NOO CRE Entertainment Portfolio Amounts as of 9.30.20 –Comments as of 10.16.20 63 10 Largest Entertainment Relationships ('000) Exposureat 9.30.20 ('000s) Loan Type Entertainment Type Deferral at 10.16.20 PROVIDENCE, RI $ 42,667C&I Recording Industry No NEEDHAM HEIGHTS, MA 40,000C&I Recording Industry No NEW YORK, NY 35,875C&I Recording Industry No WAYLAND, MA32,000C&IRecording IndustryNo LONDON, UK 25,000C&I Recording Industry No SANTA MONICA, CA 22,000C&I Recording Industry No NEW YORK, NY 18,543C&I Recording Industry No NEW YORK, NY 18,485C&I Recording Industry No PORTLAND, OR 16,985C&I Recording Industry No LOS ANGELES, CA 16,844C&I Recording Industry No $ 268,399 29.7% of EntertainmentPortfolio Over 50% of entertainment book is recording industry which is heavily weighted towards music publishing and royalty catalogs Income Statement –Revenue per Common Share *: excluding gains and losses on sales of investment securities and loss on sale of non-prime automobile portfolio. For a reconciliation of these Non-GAAP financial measures to the comparable GAAP measures, see slides 68-69. Note: See slide 71 for peer group utilized in the above analysis. Peer group calculated by aggregating total peer revenues by total peer weighted avg. shares for each quarter. Source: S&P Global 64 $10.20 $10.27 $10.49 $10.73 $11.10 $11.43 $11.74 $12.13 $12.42 $12.92 $13.44 $13.54 $13.87 $14.05 $14.36 13.0% 7.3% 5.0% 5.3% 8.8% 11.3% 11.9% 13.0% 11.9% 13.0% 14.5% 11.6% 11.6% 8.7% 6.8% 4.0% 4.5% 3.9% 4.6% 6.4% 6.5% 7.3% 6.2% 4.7% 5.0% 4.3% 5.0% 6.7% 7.2% 0.0% 3.0% 6.0% 9.0% 12.0% 15.0% $10.00 $11.00 $12.00 $13.00 $14.00 $15.00 1Q172Q173Q174Q171Q182Q183Q184Q181Q192Q193Q194Q191Q202Q203Q20 Y/Y Revenue per Share Growth Revenue per Share* LTM Revenue Per Share Growth vs. Peers PNFP LTM Revenue/SharePNFP Y/Y GrowthPeer Median Y/Y Growth Income Statement –Mortgage Volumes 1.00% 1.50% 2.00% 2.50% 3.00% 3.50% 4.00% 4.50% 5.00% $25,000 $100,000 $175,000 $250,000 $325,000 $400,000 $475,000 $550,000 $625,000 Purchase MoneyRefinanceGross fees as a % of loans originated 65 66 BHG Financials Strong equity to support business model Source: BHG Internal Data, unaudited •Strong performance in 3Q20 •Strong cash position to provide increased liquidity and, thus, better withstand any Pandemic losses 3Q 2020 2Q 2020 1Q 2020 Gains on Loan Sales and Origination Fees 105,445,353 $ 67,250,864 $ 69,654,818 $ Interest and Dividend Income 18,030,655 21,975,146 24,166,270 Other Income 5,034,193 3,564,355 4,122,071 Total Revenues 128,510,201 92,790,365 97,943,159 Expenses related to Loan Portfolio Management Provision expense 13,608,411 3,224,805 5,792,281 Interest expense 4,739,365 5,013,548 4,369,600 Other 2,266,388 2,923,102 4,237,573 Total 20,614,164 11,161,455 14,399,454 Salary and benefits 26,876,112 24,202,468 26,504,164 Marketing expenses 15,035,532 7,834,184 11,420,585 Other expenses 14,525,439 11,918,645 13,147,677 Total operating expenses 56,437,083 43,955,297 51,072,426 Net Earnings 51,458,954 $ 37,673,613 $ 32,471,279 $ Profitability Statistics Earnings to Revenues 40.04% 40.60% 33.15% Portfolio Mgmt Expense to Revenues 16.04% 12.03% 14.70% Operating Expenses to Revenues 43.92% 47.37% 52.14% *Interest Income Includes I/O strip interest income At Sept. 30, 2020 At June 30, 2020 At M arch 31, 2020 Cash and Cash Equivalents279,561,516$ 368,326,700$ 346,462,337$ Loans Held for Investment704,103,111 492,320,030 390,510,647 Allowance for Loan Losses(19,445,942) (9,537,646) (9,317,158) Loans Held for Sale211,420,789 347,004,462 344,779,932 Premises and Equipment40,250,232 40,530,721 40,013,345 Other assets33,640,650 29,563,805 43,681,054 Total Assets1,249,530,356$ 1,268,208,072$ 1,156,130,157$ Recourse Obligation256,268,119 229,273,708 178,989,055 Secured Borrowings623,992,105 310,368,848 361,749,658 Notes Payable21,307,979 350,243,201 270,113,861 Borrower Reimbursable Fee67,506,291 62,899,797 58,655,148 Other Liabilities37,387,310 94,162,108 72,864,778 1,006,461,804$ 1,046,947,662$ 942,372,500$ Equity (all Tangible)243,068,552 221,260,410 213,757,657 Total Liabilities & Stockholders Equity1,249,530,356$ 1,268,208,072$ 1,156,130,157$ Loans Outstanding at Other Bank s3,448,749,523$ 3,162,792,897$ 2,835,826,639$ Total Outstanding Loan Liability4,133,406,692$ 3,655,112,927$ 3,226,337,286$ Soundness Statistics: Cash to Assets22.37%29.04%29.97% Equity to Assets19.45%17.45%18.49% Recourse Obligation to Loans at Other Bank s7.43%7.25%6.31% Allowance to Loans Held for Investment2.76%1.94%2.39% Total Reserves against Total Outstanding6.67%6.53%5.84% Total Liability **:Excludes the impact of ORE expense and income, branch rationalization charges, merger-related charges and FHLB restructuring charges. For a reconciliation of these Non-GAAP financial measures to the comparable GAAP measures, see slide 68-69. ^: Associate retention rate is computed by dividing the number of associates employed at quarter end less the number of associates that have resigned in the last 12 months by the number of associates employed at quarter end. Associate retention rate does not include associates at acquired institutions displaced by acquisition. 67 $424.9 $201.0 $427.5 $206.2 $415.9 $199.0 $441.0 $216.9 $449.8 $214.8 $404.6 $208.1 $414.3 $215.6 $426.9 $205.4 $456.1 $221.1 $0.0 $100.0 $200.0 $300.0 $400.0 $500.0 Annualized REV/ AssociateAnnualized EXP/ Associate 3Q18 to 3Q20 (increase of $31.2 per associate) 3Q18 to 3Q20 (increase of $20.1 per associate) 86% 88% 90% 92% 94% 1Q182Q183Q184Q181Q192Q193Q194Q191Q202Q203Q20 Employee Retention ^ Retention % 1.00% 1.25% 1.50% 1.75% 2.00% 2.25% 1Q182Q183Q184Q181Q192Q193Q194Q191Q202Q203Q20 Noninterest Expense / Avg Assets GAAPNoninterest Expense / Avg Assets Adjusted** Income Statement –Expenses Income Statement Reconciliation of Non-GAAP Financial Measures 68 Income Statement Reconciliation of Non-GAAP Financial Measures 69 Income Statement Reconciliation of Non-GAAP Financial Measures 70 Peer Group Institution Name Ticker City, State Pinnacle Financial PartnersPNFPNashville, TN Valley National BancorpVLYWayne, NJ BancorpSouth, Inc.BXSTupelo, MS Bank of the Ozarks, Inc.OZKLittle Rock, AR Simmons First National Corp. SFNCPine Bluff, AR F.N.B. CorporationFNBPittsburgh, PA Cullen/Frost Bankers Inc.CFRSan Antonio, TX Fulton Financial CorporationFULTLancaster, PA Hancock Holding CompanyHWCGulfport, MS Commerce Bancshares, Inc.CBSHKansas City, MO South State CorporationSSBWinter Haven, FL First Midwest Bancorp Inc.FMBIChicago, IL PacWest BancorpPACWBeverly Hills, CA Prosperity Bancshares, Inc.PBHouston, TX Sterling BancorpSTLMontebello, NY Synovus Financial Corp.SNVColumbus, GA TCF Financial CorporationTCFDetroit, MI Atlantic Union BkshsCorp.AUBRichmond, VA UMB Financial CorporationUMBFKansas City, MO Umpqua Holdings CorporationUMPQPortland, OR Western Alliance BancorporationWALPhoenix, AZ Wintrust Financial CorporationWTFCRosemont, IL 71 Investor Call THIRD QUARTER 2020 M. TERRY TURNER, PRESIDENT AND CEO HAROLD R. CARPENTER, EVP AND CFO TIM HUESTIS, EVP AND CHIEF CREDIT OFFICER

Earnings Results Fourth Quarter 2025 2 Forward-Looking Statements This slide presentation and certain of our other filings with the Securities and Exchange Commission contain statements that constitute "forward-looking statements" within the meaning of, and subject to the protections of, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact are forward-looking statements. You can identify these forward-looking statements through Pinnacle’s use of words such as "believes," "anticipates," "expects," "may," "will," "assumes," "predicts," "could," "should," "would," "intends," "targets," "estimates," "projects," "plans," "potential" and other similar words and expressions of the future or otherwise regarding the outlook for Pinnacle's future business and financial performance and/or the performance of the banking industry and economy in general. These forward-looking statements include, among others, statements on our expectations related to (1) the anticipated benefits and risks related to the recently completed business combination transaction between Synovus Financial Corp., a Georgia corporation (“Synovus”) and Pinnacle Financial Partners, Inc., a Tennessee corporation (“Legacy Pinnacle”), including the risk that the cost savings and revenue synergies from the transaction may not be fully realized or may take longer than anticipated to be realized, the risk that the integration of Legacy Pinnacle’s and Synovus’ respective businesses and operations will be materially delayed or will be more costly or difficult than expected, including as a result of unexpected factors or events, and risks related to management and oversight of the expanded business and operations of the combined company; (2) loan growth and loan mix; (3) deposit growth and mix; (4) net interest income and net interest margin; (5) revenue growth, including growth attributable to the company's investment in Bankers Healthcare Group ("BHG"); (6) non-interest expense; (7) credit trends and key credit performance metrics; (8) our future operating and financial performance; (9) our strategy and initiatives for future revenue growth, balance sheet optimization, capital management, and expense management; (10) our effective tax rate; (11) our capital position; and (12) our assumptions underlying these expectations. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve known and unknown risks and uncertainties which may cause the actual results, performance or achievements of Pinnacle to be materially different from the future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are based on the information known to, and current beliefs and expectations of, management and are subject to significant risks and uncertainties. Actual results may differ materially from those contemplated by such forward-looking statements. A number of factors could cause actual results to differ materially from those contemplated by the forward-looking statements in this presentation. Many of these factors are beyond Pinnacle's ability to control or predict. These forward-looking statements are based upon information presently known to Pinnacle's management and are inherently subjective, uncertain and subject to change due to any number of risks and uncertainties, including, without limitation, the risks and other factors set forth in Pinnacle's periodic filings with the Securities and Exchange Commission, including its annual reports on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K. We believe these forward-looking statements are reasonable; however, undue reliance should not be placed on any forward-looking statements, which are based on current expectations and speak only as of the date that they are made. We do not assume any obligation to update any forward-looking statements as a result of new information, future developments or otherwise, except as otherwise may be required by law. 3 Use of Legacy Pinnacle Non-GAAP Financial Measures This slide presentation contains certain non-GAAP financial measures determined by methods other than in accordance with generally accepted accounting principles. Such non-GAAP financial measures include the following: adjusted net income available to common shareholders; adjusted diluted earnings per share; adjusted return on average assets; return on average tangible common equity; adjusted return on average tangible common equity; adjusted non-interest revenue; adjusted total revenue taxable equivalent (TE); adjusted non-interest expense; adjusted tangible efficiency ratio; tangible common equity ratio; tangible book value per common share; and adjusted pre-provision net revenue (PPNR). The most comparable GAAP measures to these measures are net income available to common shareholders; diluted earnings per share; return on average assets; return on average common equity; total non-interest revenue; total revenue; total non-interest expense; efficiency ratio-TE; total shareholders' equity to total assets ratio; book value per common share; and PPNR, respectively. Management believes that these non-GAAP financial measures provide meaningful additional information about Pinnacle to assist management and investors in evaluating Pinnacle's operating results, financial strength, the performance of its business and the strength of its capital position. However, these non-GAAP financial measures have inherent limitations as analytical tools and should not be considered in isolation or as a substitute for analyses of operating results or capital position as reported under GAAP. The non-GAAP financial measures should be considered as additional views of the way our financial measures are affected by significant items and other factors, and since they are not required to be uniformly applied, they may not be comparable to other similarly titled measures at other companies. Adjusted net income available to common shareholders, adjusted diluted earnings per share and adjusted return on average assets are measures used by management to evaluate operating results exclusive of items that are not indicative of ongoing operations and impact period-to-period comparisons. Return on average tangible common equity and adjusted return on average tangible common equity are measures used by management to compare Pinnacle's performance with other financial institutions because it calculates the return available to common shareholders without the impact of intangible assets and their related amortization, thereby allowing management to evaluate the performance of the business consistently. Adjusted non-interest revenue and adjusted total revenue TE are measures used by management to evaluate non-interest revenue and total revenue exclusive of net investment securities gains (losses), fair value adjustments on nonqualified deferred compensation, and other items not indicative of ongoing operations that could impact period-to-period comparisons. Adjusted non-interest expense and the adjusted tangible efficiency ratio are measures utilized by management to measure the success of expense management initiatives focused on reducing recurring controllable operating costs. The tangible common equity ratio is used by stakeholders to assess our capital position. Tangible book value per common share is used by stakeholders to assess our financial stability and value. Adjusted PPNR is used by management to evaluate PPNR exclusive of items that management believes are not indicative of ongoing operations and impact period-to-period comparisons. The computations of the non-GAAP financial measures used in this slide presentation are set forth in the appendix to this slide presentation. Management does not provide a reconciliation for forward-looking non-GAAP financial measures where it is unable to provide a meaningful or accurate calculation or estimation of reconciling items and the information is not available without unreasonable effort. This is due to the inherent difficulty of forecasting the occurrence and the financial impact of various items that have not yet occurred, are out of Pinnacle's control, or cannot be reasonably predicted. For the same reasons, Pinnacle's management is unable to address the probable significance of the unavailable information. Forward-looking non-GAAP financial measures provided without the most directly comparable GAAP financial measures may vary materially from the corresponding GAAP financial measures. 4 Use of Synovus Non-GAAP Financial Measures This slide presentation contains certain non-GAAP financial measures determined by methods other than in accordance with generally accepted accounting principles. Such non-GAAP financial measures include the following: adjusted net income available to common shareholders; adjusted diluted earnings per share; adjusted return on average assets; return on average tangible common equity; adjusted return on average tangible common equity; adjusted non-interest revenue; adjusted total revenue taxable equivalent (TE); adjusted non-interest expense; adjusted tangible efficiency ratio; tangible common equity ratio; tangible book value per common share; and adjusted pre-provision net revenue (PPNR). The most comparable GAAP measures to these measures are net income available to common shareholders; diluted earnings per share; return on average assets; return on average common equity; total non-interest revenue; total revenue; total non-interest expense; efficiency ratio-TE; total shareholders' equity to total assets ratio; book value per common share; and PPNR, respectively. Management believes that these non-GAAP financial measures provide meaningful additional information about Synovus to assist management and investors in evaluating Synovus' operating results, financial strength, the performance of its business and the strength of its capital position. However, these non-GAAP financial measures have inherent limitations as analytical tools and should not be considered in isolation or as a substitute for analyses of operating results or capital position as reported under GAAP. The non-GAAP financial measures should be considered as additional views of the way our financial measures are affected by significant items and other factors, and since they are not required to be uniformly applied, they may not be comparable to other similarly titled measures at other companies. Adjusted net income available to common shareholders, adjusted diluted earnings per share and adjusted return on average assets are measures used by management to evaluate operating results exclusive of items that are not indicative of ongoing operations and impact period-to-period comparisons. Return on average tangible common equity and adjusted return on average tangible common equity are measures used by management to compare Synovus' performance with other financial institutions because it calculates the return available to common shareholders without the impact of intangible assets and their related amortization, thereby allowing management to evaluate the performance of the business consistently. Adjusted non-interest revenue and adjusted total revenue TE are measures used by management to evaluate non-interest revenue and total revenue exclusive of net investment securities gains (losses), fair value adjustments on nonqualified deferred compensation, and other items not indicative of ongoing operations that could impact period-to-period comparisons. Adjusted non-interest expense and the adjusted tangible efficiency ratio are measures utilized by management to measure the success of expense management initiatives focused on reducing recurring controllable operating costs. The tangible common equity ratio is used by stakeholders to assess our capital position. Tangible book value per common share is used by stakeholders to assess our financial stability and value. Adjusted PPNR is used by management to evaluate PPNR exclusive of items that management believes are not indicative of ongoing operations and impact period-to-period comparisons. The computations of the non-GAAP financial measures used in this slide presentation are set forth in the appendix to this slide presentation. Management does not provide a reconciliation for forward-looking non-GAAP financial measures where it is unable to provide a meaningful or accurate calculation or estimation of reconciling items and the information is not available without unreasonable effort. This is due to the inherent difficulty of forecasting the occurrence and the financial impact of various items that have not yet occurred, are out of Synovus' control, or cannot be reasonably predicted. For the same reasons, Synovus' management is unable to address the probable significance of the unavailable information. Forward-looking non-GAAP financial measures provided without the most directly comparable GAAP financial measures may vary materially from the corresponding GAAP financial measures. 5 Pinnacle Financial Partners •Highly Successful Operating and Recruiting Model That Generates Above-Peer Revenue, EPS and TBV Growth •One of the Most Economically Vibrant Footprints in the Banking Industry •Regional Bank Employer of Choice with Industry- Leading Client Service •Healthy Capital Generation Provides Strong Balance Sheet Growth and Capital Return Opportunities •Significant, Multi-Year Investments and Expertise Prepare PNFP Well for LFI Standards PNFP footprint population projected to grow ~2x faster than national average (1) (1) Source S&P Capital IQ Pro 6 Enriched Shareholders Engaged Clients Legacy Pinnacle and Synovus Both Delivered in 2025 Synovus Pinnacle 2025 2025 (1) Source: Coalition Greenwich Voice of Client – 2025 US Commercial Banking Study ($1-$500MM – Q3 2025 - Banking); Pinnacle NPS score (82) is #1 in its legacy footprint compared to the 8 largest banks by lead relationship share among businesses with $1-$500MM in revenue, while Synovus NPS score (60) is #3 in the legacy Synovus footprint compared to the 8 largest banks by lead relationship share among businesses with $1-$500MM in revenue; (2) Non-GAAP financial measure; see appendix for applicable reconciliation #4 Best Bank to Work For American Banker 4.2/5.0 #1 Employer of Choice in Our Markets Glassdoor #1 +35% / +22% 2025 YoY GAAP/ Adjusted EPS Growth (2) +76% / +28% Excited Team Members #3 2025 YoY GAAP/ Adjusted EPS Growth (2) Net Promoter Score (1) Net Promoter Score (1) 7 Adjusted Revenue, in Millions 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 $— $250 $500 $750 Diluted Adjusted EPS 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 $0.50 $1.00 $1.50 $2.00 $2.50 Tangible Book Value Per Share 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 $25 $30 $35 $40 $45 $50 $55 $60 $65 Book Value Per Common Share 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 $50 $55 $60 $65 $70 $75 $80 $85 $90 $95 Diluted Reported EPS 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 $0.50 $1.00 $1.50 $2.00 $2.50 $3.00 Reported Revenue, in Millions 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 $— $250 $500 $750 Our Focus is Unchanged CAGR: 11% CAGR: 12% CAGR: 6% CAGR: 7% CAGR: 7% (1) Non-GAAP financial measures; see appendix for applicable reconciliations CAGR: 11% (Legacy Pinnacle Information) (1)(1)(1) 8 Period End Core Deposits, in Billions 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 $— $10 $20 $30 $40 $50 NPAs/Loans + ORE 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 —% 0.10% 0.20% 0.30% 0.40% 0.50% 0.60% Past Due Loans/Total Loans 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 —% 0.05% 0.10% 0.15% 0.20% 0.25% NCOs/Average Loans 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 —% 0.05% 0.10% 0.15% 0.20% 0.25% 0.30% Classified Asset Ratio 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 —% 1.0% 2.0% 3.0% 4.0% 5.0% 6.0% 7.0% 8.0% Period End Loans, in Billions 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 $— $10 $20 $30 $40 $50 CAGR: 11% CAGR: 11% (1) Core deposits are non-interest-bearing deposits, interest-bearing deposits, money market accounts and time deposits less than $250,000 including reciprocating time and money market deposits; the future core deposit definition will conform to legacy Synovus' definition which includes client time deposits >$250,000 Our Focus is Unchanged (Legacy Pinnacle Information) (1) 9 Question: How likely are you to recommend (Lead Provider) to a friend or colleague using a scale of 0-10 where "0" means Not At All Likely and "10" means Extremely Likely? Which bank or financial service provider do you consider your company's single most important or lead provider of banking services? Source: Coalition Greenwich Voice of Client – 2025 US Commercial Banking Study (Pinnacle/Synovus – Extended Combined Footprint (AL, DC, FL, GA, KY, NC, SC, TN, & VA - $1-500MM – Q3 2025 YTD - Banking). Net Promoter Score vs. Market Share Our Greatest Opportunity Large Market Share Banks – 10 Distributed accountability across teams Empowerment and collaboration at all levels People First Culture Geographic-Led Model Regional leadership driving growth Specialty businesses supporting and aiding expansion Corporate-Wide Incentive Plans Focused on achieving Revenue and EPS targets Alignment of rewards with performance outcomes Outsized Hiring of Revenue Producers Aggressive recruitment of top talent Strengthening front-line capabilities Risk Management Prudent client selection and credit risk management Compliance and adoption of risk framework to match size and complexity Reducing Bureaucracy Streamlined processes for ease of doing business Removing unnecessary layers for faster decisions Speed of Execution Rapid action supporting front-line and credit Prioritizing agility and responsiveness Performance Measurement and Analysis Technology and Solutions Modernization Data-driven insights for accountability Continuous improvement through metrics Upgrading platforms for efficiency Driving innovation and customer-centric solutions What Will Remain Intact 11 What Won't Happen Pinnacle Won't Become Another “Big Bank” Pinnacle Won't Lose Its “Secret Sauce” Our growth enables big-bank capabilities: advanced technology, a broader range of products, deeper capital strength, and the ability to serve clients wherever they are But what truly sets us apart is our small-bank heart: local decision-making, personal relationships, and a culture that puts people first Our Focus is not changing – it is on accelerated hiring, distinctive service and effective advice, it is about relationships over transactions, people over processes, and a war on bureaucracy Growth gives us resources, but culture gives us relevance...we will never trade one for the other SCALE WITH A SOUL A FINANCIAL SERVICES FIRM THAT JUST DOESN'T COMPETE - IT LEADS. NOT BECAUSE OF SIZE, BUT DUE TO FOCUS Financial Highlights 13 Income Statement Summary (GAAP) ($ in thousands, except per share data) 4Q25 % Change QoQ % Change YoY Net Interest Income$407,4353%12% Provision for Credit Losses$34,1017%15% Non-Interest Revenue$134,769(9)%21% Total Revenue$542,204(1)%14% Non-Interest Expense$302,6560%16% Pre-Provision Net Revenue$239,548(1)%12% Net Income Available to Common Shareholders$165,983(2)%13% Diluted EPS$2.13(3)%12% (1) Non-GAAP financial measures; see appendix for applicable reconciliations; (2) TE - Taxable Equivalent Legacy Pinnacle's Fourth Quarter 2025 Financial Highlights Income Statement Summary (Adjusted) (1) ($ in thousands, except per share data) 4Q25 % Change QoQ % Change YoY Net Interest Income (TE) (2) $424,5893%13% Provision for Credit Losses$34,1017%15% Adjusted Non-Interest Revenue$138,868(6)%25% Adjusted Total Revenue (TE) (2) $563,4571%16% Adjusted Non-Interest Expense$295,8710%13% Adjusted Pre-Provision Net Revenue (TE) (2) $267,5861%19% Adjusted Net Income Available to Common Shareholders$174,146(1)%18% Adjusted Diluted EPS$2.24(1)%18% 14 Period-End Balance Sheet Growth ($ in millions) 4Q25 % Change QoQ % Change YoY Loans$39,1543%10% Deposits$47,3974%11% Core Deposits (1) $41,9283%10% Non-Interest Bearing Deposits$9,0471%11% (1) Core deposits are non-interest-bearing deposits, interest-bearing deposits, money market accounts and time deposits less than $250,000 including reciprocating time and money market deposits; the future core deposit definition will conform to legacy Synovus' definition which includes client time deposits >$250,000; (2) Annualized; (3) Non-GAAP financial measure; see appendix for applicable reconciliation; (4) TE - Taxable equivalent; (5) 4Q25 capital ratios are preliminary Legacy Pinnacle's Fourth Quarter 2025 Financial Highlights Profitability Metrics4Q253Q254Q24 ROAA (2) 1.16%1.22%1.15% Adjusted ROAA (2)(3) 1.22%1.26%1.15% ROCE (2) 9.76%10.33%9.48% ROTCE (2)(3) 13.50%14.49%13.58% Adjusted ROTCE (2)(3) 14.17%15.00%13.57% Net Interest Margin (2) 3.27%3.26%3.22% Efficiency Ratio - TE (4) 54.11%54.13%53.73% Adjusted Efficiency Ratio (3) 52.51%52.72%53.75% Credit & Capital Metrics4Q253Q254Q24 NCOs/Average Loans (2) 0.28%0.18%0.24% NPLs/Loans0.34%0.39%0.42% Allowance for Credit Losses %1.13%1.15%1.17% CET1 Ratio (5) 10.88%10.83%10.80% 15 Income Statement Summary (GAAP) ($ in thousands, except per share data) 2025 % Change YoY Net Interest Income$1,548,26113% Provision for Credit Losses$107,245(11)% Non-Interest Revenue$506,59037% Total Revenue$2,054,85118% Non-Interest Expense$1,167,72813% Pre-Provision Net Revenue$887,12326% Net Income Available to Common Shareholders$626,67336% Diluted EPS$8.0735% (1) Non-GAAP financial measures; see appendix for applicable reconciliations; (2) TE - Taxable Equivalent Legacy Pinnacle's 2025 Financial Highlights Income Statement Summary (Adjusted) (1) ($ in thousands, except per share data) 2025 % Change YoY Net Interest Income (TE) (2) $1,606,96714% Provision for Credit Losses$107,245(11)% Adjusted Non-Interest Revenue $523,20121% Adjusted Total Revenue (TE) (2) $2,130,16816% Adjusted Non-Interest Expense $1,152,87515% Adjusted Pre-Provision Net Revenue (TE) (2) $977,29316% Adjusted Net Income Available to Common Shareholders $650,27122% Adjusted Diluted EPS $8.3722% 16 Period-End Balance Sheet Growth ($ in millions) 2025 % Change YoY Loans$39,15410% Deposits$47,39711% Core Deposits (1) $41,92810% Non-Interest Bearing Deposits$9,04711% Legacy Pinnacle's 2025 Financial Highlights Profitability Metrics20252024 ROAA1.15%0.93% Adjusted ROAA (2) 1.19%1.08% ROCE9.66%7.66% ROTCE (2) 13.58%11.12% Adjusted ROTCE (2) 14.09%12.86% Net Interest Margin3.24%3.16% Efficiency Ratio - TE (3) 55.25%58.00% Adjusted Efficiency Ratio (2) 54.12%54.17% Credit & Capital Metrics20252024 NCOs/Average Loans0.21%0.23% NPLs/Loans0.34%0.42% Allowance for Credit Losses %1.13%1.17% CET1 Ratio (4) 10.88%10.80% (1) Core deposits are non-interest-bearing deposits, interest-bearing deposits, money market accounts and time deposits less than $250,000 including reciprocating time and money market deposits; the future core deposit definition will conform to legacy Synovus' definition which includes client time deposits >$250,000; (2) Non-GAAP financial measure; see appendix for applicable reconciliation; (3) TE - Taxable equivalent; (4) 4Q25 capital ratios are preliminary 17 Income Statement Summary (GAAP) ($ in thousands, except per share data) 4Q25 % Change QoQ % Change YoY Net Interest Income$484,5772%7% Provision for Credit Losses$33,01552%0% Non-Interest Revenue$145,0943%16% Total Revenue$629,6712%8% Non-Interest Expense$349,5940%13% Pre-Provision Net Revenue$280,0775%3% Net Income Available to Common Shareholders$171,054(8)%(4)% Diluted EPS$1.22(8)%(2)% (1) Non-GAAP financial measures; see appendix for applicable reconciliations; (2) TE - Taxable Equivalent Synovus' Fourth Quarter 2025 Financial Highlights Income Statement Summary (Adjusted) (1) ($ in thousands, except per share data) 4Q25 % Change QoQ % Change YoY Net Interest Income (TE) (2) $486,2092%7% Provision for Credit Losses$33,01552%0% Adjusted Non-Interest Revenue$144,2506%16% Adjusted Total Revenue (TE) (2) $630,4593%9% Adjusted Non-Interest Expense$325,9812%5% Adjusted Pre-Provision Net Revenue$304,4784%12% Adjusted Net Income Available to Common Shareholders$202,551(1)%14% Adjusted Diluted EPS$1.45(1)%16% 18 Period-End Balance Sheet Growth ($ in millions) 4Q25 % Change QoQ % Change YoY Loans$44,6262%5% Deposits$51,3243%0% Core Deposits (1) $45,8722%(1)% Non-Interest Bearing Deposits$11,2021%(3)% (1) Excludes brokered; (2) Annualized; (3) Non-GAAP financial measure; see appendix for applicable reconciliation; (4) TE - Taxable equivalent;; (5) 4Q25 capital ratios are preliminary Synovus' Fourth Quarter 2025 Financial Highlights Profitability Metrics4Q253Q254Q24 ROAA (2) 1.18%1.30%1.25% Adjusted ROAA (2)(3) 1.39%1.42%1.25% ROCE (2) 12.62%14.36%14.75% ROTCE (2)(3) 14.09%16.11%16.72% Adjusted ROTCE (2)(3) 16.66%17.69%16.67% Net Interest Margin (2) 3.45%3.41%3.28% Efficiency Ratio - TE (4) 55.38%56.51%53.15% Adjusted Efficiency Ratio (3) 51.29%51.83%52.69% Credit & Capital Metrics4Q253Q254Q24 NCOs/Average Loans (2) 0.22%0.14%0.26% NPLs/Loans0.57%0.48%0.73% Allowance for Credit Losses %1.19%1.19%1.27% CET1 Ratio (5) 11.28%11.22%10.84% 19 Income Statement Summary (GAAP) ($ in thousands, except per share data) 2025 % Change YoY Net Interest Income$1,873,2177% Provision for Credit Losses$68,871(50)% Non-Interest Revenue$536,392124% Total Revenue$2,409,60921% Non-Interest Expense$1,322,0586% Pre-Provision Net Revenue$1,087,55147% Net Income Available to Common Shareholders$746,65570% Diluted EPS$5.3376% (1) Non-GAAP financial measures; see appendix for applicable reconciliations; (2) TE - Taxable Equivalent Synovus' 2025 Financial Highlights Income Statement Summary (Adjusted) (1) ($ in thousands, except per share data) 2025 % Change YoY Net Interest Income (TE) (2) $1,879,8247% Provision for Credit Losses$68,871(50)% Adjusted Non-Interest Revenue $528,7558% Adjusted Total Revenue (TE) (2) $2,408,5797% Adjusted Non-Interest Expense $1,266,4933% Adjusted Pre-Provision Net Revenue $1,142,08613% Adjusted Net Income Available to Common Shareholders $797,23524% Adjusted Diluted EPS $5.6928% 20 Period-End Balance Sheet Growth ($ in millions) 2025 % Change YoY Loans$44,6265% Deposits$51,3240% Core Deposits (1) $45,872(1)% Non-Interest Bearing Deposits$11,202(3)% Synovus' 2025 Financial Highlights Profitability Metrics20252024 ROAA1.31%0.81% Adjusted ROAA (2) 1.40%1.15% ROCE14.73%9.50% ROTCE (2) 16.55%10.91% Adjusted ROTCE (2) 17.66%15.84% Net Interest Margin3.39%3.19% Efficiency Ratio - TE (3) 54.72%62.54% Adjusted Efficiency Ratio (2) 52.15%54.33% Credit & Capital Metrics20252024 NCOs/Average Loans0.18%0.31% NPLs/Loans0.57%0.73% Allowance for Credit Losses %1.19%1.27% CET1 Ratio (4) 11.28%10.84% (1) Excludes brokered; (2) Non-GAAP financial measure; see appendix for applicable reconciliation; (3) TE - Taxable equivalent; (4) 4Q25 capital ratios are preliminary 2026 Outlook 22 Our Incentives Are Aligned Determinants of Short-Term Incentives Determinants of Long-Term Incentives Adjusted Revenue (1) Growth Adjusted EPS (1) Growth Adjusted Return on Tangible Common Equity (1) Tangible Book Value (1) Growth Internal Goal Setting 2026 Guidance Aligned with Internal Goal Setting and External Benchmarking (1) Non-GAAP financial measure; see cautionary language on slides 3 and 4 and appendix for applicable reconciliation Total Shareholder Return 23 Estimated Closing Vs. Announcement Merger Details Estimates at AnnouncementCurrent Estimate Non-Interest Expense Synergies (1) $250MMNo change Non-Interest Expense Synergies Timing (1) 50% in 2026, 75% in 2027, 100% in 202840% in 2026, 75% in 2027, 100% in 2028 Merger-Related Expense (2) $720MM inclusive of LFI expenseNo material change (2) Operational Conversion DateFirst Quarter 2027March 2027 CET1 Ratio at March 31, 2026~9.8%~10.0% Loan Mark / Year 1 PAA (3)(4)(5) $874MM / $159MM~$800MM / $90MM- $110MM (4)(5) Securities Mark / Year 1 PAA (3) $946MM / $115MM $813MM/1Q26 repositioning captures market yields while eliminating 98% of securities-related PAA Wealth Intangible / Year 1 Amortization$197MM / $20MMNo material change Fixed Assets Write Up / Year 1 Incremental Depreciation$237MM / $16MMNo material change Core Deposit Intangible / Year 1 Amortization$1.023B / $186MM~$825MM / ~$150MM Time Deposit Mark / Year 1 PAA (3) $4MM / Full Accretion Year 1No material change Gross Credit Mark on Synovus Loans (5) $483MM or 1.1% of SNV gross loans at 6/30/25No material change (1) $250 MM of expense synergies are net of dyssynergies (e.g., LFI costs); synergy timing represents in-year savings for 2026, 2027 and 2028; (2) In addition to the $720MM of merger-related expense which should be recognized through 2027, ~$68MM of expense will be recognized in 1Q26 associated with outstanding legacy PNFP single trigger equity awards; (3) PAA - Purchase Accounting Accretion; (4) Lower Year 1 accretion relative to the estimate at announcement is a result of a lower loan mark as well as a shift in the estimate of the mark to longer duration loans; (5) Loan mark and Year 1 accretion estimate includes the impact of the elimination of deferred loan fees/costs in purchase accounting. There will be no credit PAA, as PNFP is electing the new accounting provision that does not require the historical double count 24 Notes Period-End Loans Period-End Deposits Adjusted Revenue (1) Adjusted Non- Interest Expense (1) •Assumes NIM range of 3.45% - 3.55% in 2026, inclusive of PAA •Assumes two 25-basis point Fed Funds cuts in 2026 •Assumes adjusted non-interest revenue (1) of $1.10B - $1.15B •Assumes BHG investment revenue of $125MM - $135MM •Includes ~$175MM of estimated total intangible amortization in 2026 (net of amortization eliminated in purchase accounting) •Assumes 40% of $250MM net cost savings realized in 2026 •Inclusive of merger synergies, adjusted NIE (1) is expected to be relatively stable QoQ in 2Q26, 3Q26 and 4Q26 versus 1Q26 •Includes ~$10MM of annual expense that historically was recorded as contra-revenue by Synovus •Upper end of expense range aligned with top end of revenue range 2026 Outlook •Supported by revenue producer hiring, specialty lines and legacy market growth •Represents 9%-11% loan growth (excluding the Day 1 purchase accounting loan mark) $106.5B - $108.5B $5.00B - $5.20B $2.675B - $2.775B 20% - 21% 2026 Outlook $91.0B - $93.0B •Supported by revenue producer hiring, specialty lines and legacy market growth •Represents relatively stable deposit mix •Growth should accelerate throughout the year as seasonal benefits and integration momentum support 2H26 growth NCOs/ Average Loans CET1 Ratio 0.20% - 0.25% 10.25% - 10.75% •Assumes relatively stable economic environment •1Q26E NCOs are likely to be similar to combined company 4Q25 NCOs (1) Non-GAAP financial measure; see cautionary language on slides 3 and 4 and appendix for applicable reconciliation •ETR is based on earnings adjusted for merger-related costs •Assumes similar mix of historical tax credits and tax-exempt income Adjusted Effective Tax Rate •Near-term focus on capital accretion and prioritizing capital deployment via organic growth •Incorporates increase in Common Dividend to $0.50/share per quarter (starting in 1Q26) 25 25% 75% 35% 30% 35% 2026E Balance Sheet Growth Attribution Loan Growth Drivers Deposit Growth Drivers Recent Revenue- Producing Hires Legacy Markets/ Revenue Producers Legacy Markets/ Revenue Producers Revenue-Producing Hires Broad-based contribution from legacy SNV and Pinnacle specialty businesses (1) Growth from longer tenured revenue producers / established markets Growth from hires made within the last 3 years Growth from longer-tenured revenue producers, supported by market-based specialty lines Growth from hires made within the last 3 years Specialty Businesses (1) Meaningful contributors include Structured Lending, Franchise Finance, Corporate & Investment Banking, Music Sports & Entertainment, Equipment Finance, Dealer Finance, Specialty Commercial Real Estate, and Solar Finance 26 Consistent with 2026 guidance Expected to be finalized in March 2026; includes valuation marks, goodwill impacts, DTA/DTL, etc. 0.3%-0.4% Estimated Common Equity Tier 1 Ratio at March 31, 2026 ~11.1% Combined PNFP & SNV CET1 Ratio (1) 12/31/25 ~ -1.1% Day 1 Marks & Valuation ~ -0.2% 1Q26 Merger Expense ~ -0.2% Loan Growth 1Q26 Core EPS +/- 0.1% ~10.0% Pro Forma PNFP CET1 Ratio 3/31/26 (1) 12/31/25 CET1 Ratio based on preliminary estimates for each of legacy Pinnacle and Synovus; does not represent an official reported regulatory ratio; Note: CET1 change attribution is illustrative and is based on preliminary estimates and projections, as of January 15, 2026 Dividend & Other 27 230 217 250 275 161 134 69 83 Legacy PNFPLegacy SNVNew PNFP 2024A2025A2026E2027E Revenue Producer Hiring Should Remain Outsized *Record Year for PNFP hiring model 225-250 250-275 28 Estimated Revenue Synergies of $100MM - $130MM Note: Relationship Expansion, Capital Markets, Specialty Expertise and Treasury Capabilities information reflects 2025 PNFP and SNV Expected To Be Realized Over the Next 2-3 Years 29 Merger-Related Expense Synergies 2026 Priorities Strong Period-End Loan and Core Deposit Growth Balanced Loan and Deposit Growth New Deposit and Loan Processes and Systems Cross-organizational initiative to define new state processes New Client Onboarding Onboarding high-impact clients on end-state platform Revenue Synergies and Optimization Efforts Cross-pollination and delivery of best of both bank strengths Realize 40% of Expense Synergies Tech and Product Conversion Preparation Plan and prepare for CD1, with product and tech mapping Appendix Legacy Pinnacle Standalone Fourth Quarter 2025 Supplemental Information 32 Market Share Gains Continue to Drive Loan Growth (1) Excludes leases, credit cards and loans HFS; loan yields exclude tax equivalent income adjustments; loan yields consider contractual floors for individual loans but exclude the impact of other loan interest rate derivative products Fixed Rate Loan Maturities/Cash Flow ($ in millions) 5.12% 4.99% 4.94% 4.89% 4.82% 4.76% FX Loan CFLWMat Rate 1Q262Q263Q264Q261Q272Q27 $0 $400 $800 $1,200 4.50% 4.80% 5.10% 5.40% Loan Yields Average Loan Growth and Yields ($ in millions) $22,525 $22,848 $23,180 $22,986 $23,226 $23,849 $25,397 $27,021 $28,402 $29,634 $30,882 $31,530 $32,372 $33,042 $33,517 $34,082 $34,981 $36,042 $36,968 $37,693 $38,657 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 $15,000 $20,000 $25,000 $30,000 $35,000 $40,000 3.00% 3.50% 4.00% 4.50% 5.00% 5.50% 6.00% 6.50% 7.00% •Period-end loans increased 3% QoQ in 4Q25 compared to 2% in 3Q25 •C&I growth remained strong at 5% QoQ compared to 4% in 3Q25; other loans, including commercial real estate loans, increased 2% QoQ •4Q25 loan origination rates remained well above current portfolio yields Highlights Average LoansYield 33 Highlights •Period-end deposits, excluding brokered, increased 3% QoQ •Period-end noninterest-bearing deposits increased 1% QoQ to 19% of total deposits •Declining rate deposit betas continue to match levels seen during rising rates while variable-rate loan beta improved due to rate cut/repricing timing; negative fixed-rate loan beta remains a positive NIM tailwind Deposit Growth Remains a Key Focus Sept. 30, 2025 EOP Rates Sept. 30, 2025 % of Totals Dec. 31, 2025 EOP Rates Dec. 31, 2025 % of Totals Noninterest bearing---20%---19% Interest-bearing: Rate sheet 0.77%13%0.64%12% Negotiated 2.80%3%2.39%4% Indexed 3.45%54%3.04%54% CDs 3.70%10%3.63%11% Total IBD 3.03%80%2.73%81% Total Deposits 2.43%100%2.21%100% Cumulative Betas (EOP rate comparisons) “Up Rate Cycle” Dec. 31, 2021 - Sept. 18, 2024 “Down Rate Cycle” Sept. 18, 2024 - Dec. 31, 2025 Fed funds effective rate, at EOP0.08% to 5.33%5.33% to 3.64% Variable Rate Loans85%75% Fixed Rate Loans15%(19)% Total Loans59%42% Int Checking, Savings, Money Market69%71% Time Deposits75%44% Total Interest-Bearing Deposits70%67% Total Deposits56%53% Average Deposit Growth ($ in millions) $27,193 $27,621 $28,014 $28,740 $30,034 $31,539$31,484 $33,108 $34,177 $35,292 $36,356 $38,078 $38,516 $38,996 $39,454 $40,101 $41,682 $43,019 $44,234 $45,479 $46,658 Avg. DepositsCost of Deposits 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 $10,000 $20,000 $30,000 $40,000 $50,000 —% 0.50% 1.00% 1.50% 2.00% 2.50% 3.00% 34 Loan Growth and Higher NIM Drive Strong NII Growth Net Interest Income & Net Interest Margin ($ in millions) NIINIM 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 $175 $200 $225 $250 $275 $300 $325 $350 $375 $400 2.75% 3.00% 3.25% 3.50% 3.75% Quarterly Average Securities ($ in millions) Avg. SecuritiesYield 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 $3,500 $4,000 $4,500 $5,000 $5,500 $6,000 $6,500 $7,000 $7,500 $8,000 $8,500 $9,000 $9,500 2.00% 2.25% 2.50% 2.75% 3.00% 3.25% 3.50% 3.75% 4.00% 4.25% 4.50% 4.75% •Net interest income grew 3% QoQ on solid earning asset growth and modest NIM expansion •Net interest margin expanded 1 bp to 3.27% Highlights 35 (1) Adjusted non-interest revenue is a non-GAAP financial measure that excludes gains and losses on sales of investment securities. Non-GAAP financial measures; see appendix for applicable reconciliations Non-Interest Revenue Growth Remains Strong ($ in Thousands)4Q253Q254Q24 Linked-Quarter Annualized Growth % Year-over-Year Growth % Service charges $ 18,720 $ 18,290 $ 15,175 9%23% Investment services 22,340 23,910 19,233 (26)%16% Insurance commissions 3,142 4,016 2,900 (87)%8% Gains on mortgage loans sold, net 1,347 1,828 2,344 (>100%)(43)% Gains (losses) on sales of investment securities, net (4,099) — 249 NM(>100%) Trust fees 11,415 10,316 9,098 43%25% Income from equity method investment (BHG) 31,297 40,614 12,070 (92)%>100% Gains on sale of fixed assets 142 — 38 NM>100% Other: Interchange and other consumer fees 22,706 20,031 19,731 53%15% Bank-owned life insurance 12,208 12,011 9,830 7%24% Loan swap fees 2,397 2,544 3,112 (23)%(23)% SBA loans sales 152 1,384 870 (>100%)(83)% Income from other equity investments 4,210 4,401 4,737 (17)%(11)% Other 8,792 8,593 12,158 9%(28)% Total noninterest income$ 134,769 $ 147,938 $ 111,545 (36)%21% Non-interest income/Average Assets 0.94 % 1.06 % 0.87 % (45)%8% Adjusted non-interest revenue (1) $ 138,868 $ 147,938 $ 111,296 (25)%25% Adjusted non-interest revenue (1) /Total Avg. Assets 0.97 % 1.06 % 0.87 % (34)%11% •Wealth management fee categories collectively increased 18% year over year •Service charges jumped 9% from 3Q25 and 23% year over year •BHG-related income of $31MM was in line with expectations communicated in October and grew sharply year over year Highlights 36 (1) Adjusted noninterest expense is a non-GAAP financial measure that excludes the impact of ORE expense (income), the FDIC special assessment and merger-related expenses; (2) Adjusted efficiency ratio is a non-GAAP financial measure that excludes the impact of ORE expense (income), the FDIC special assessment, gains and losses on sales of investment securities and merger-related expenses. Non-GAAP financial measures; see appendix for applicable reconciliations Non-Interest Expense Impacted by Hiring Model ($ in Thousands)4Q253Q254Q24 Linked-Quarter Annualized Growth % Year-over-Year Growth % `````` Salaries and commissions$ 118,333 $ 115,864 $ 105,265 9%12% Cash and equity incentives 37,332 45,483 36,609 (72)%2% Employee benefits and other 25,430 25,654 22,796 (3)%12% Total personnel costs$ 181,095 $ 187,001 $ 164,670 (13)%10% Equipment and occupancy 52,167 48,910 42,756 27%22% Other real estate, net 346 146 58 >100%>100% Marketing and other business development 12,011 7,902 8,168 >100%47% Postage and supplies 3,269 3,401 3,178 (16)%3% Amortization of intangibles 1,393 1,398 1,544 (1)%(10)% Merger-related expenses 13,939 7,727 — >100%NM Other noninterest expense: Deposit related expense 9,796 18,721 16,015 >(100)%(39)% Lending related expense 18,194 16,909 16,639 30%9% Wealth management expense 1,060 1,039 880 8%20% Other noninterest expense 9,386 9,985 7,989 (24)%17% Total other noninterest expense$ 38,436 $ 46,654 $ 41,523 (70)%(7)% Total noninterest expense$ 302,656 $ 303,139 $ 261,897 (1)%16% Efficiency ratio 55.82 % 55.64 % 55.10 % 1%1% Noninterest expense/Total average assets 2.12 % 2.18 % 2.04 % (11)%4% Adjusted non-interest expense (1) $ 295,871 $ 295,266 $ 261,839 1%13% Adjusted efficiency ratio (2) 54.16 % 54.20 % 55.11 % 0%(2)% Adjusted non-interest expense (1) /Avg. assets 2.07 % 2.12 % 2.04 % (9)%1% Headcount (FTE) 3,709.0 3,657.5 3,565.5 6%4% Highlights •Personnel costs reflect the impact of increased headcount and merit raises since January 1, 2025 •Cash incentives in 4Q25 reflect the resetting of estimated incentive payouts for 2025. Cash incentive expense is adjusted each quarter to reflect the anticipated payout percentage for the annual cash incentive plan. In 4Q25, we accrued incentives at 125% of target. •Merger-related charges incurred in 2H25 were $21.7MM 37 •NCOs were 0.28% in 4Q25 •63% of NCOs in 4Q25 were from a single non-owner occupied CRE credit charge- off totaling $16.9MM •NPAs declined QoQ to 0.36% in 4Q25 Credit Performance Remains Healthy NCOs/Average Loans 0.14% 0.17%0.17% 0.24% 0.28% 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 NPA/Loans & ORE 0.17% 0.16% 0.27% 0.42% 0.36% 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 Classified Asset Ratio 4.1% 2.4% 5.2% 3.8% 3.5% 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 Potential Problem Loans 0.47% 0.19% 0.39% 0.13% 0.11% 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 Past Dues as a % of Total Loans 0.09% 0.15% 0.23% 0.15% 0.14% 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 Highlights 38 PNFP CRE & Construction NCO ($ in millions) and NCO % $(0.3)$(0.3) $(1.2) $(0.1) $(0.4) $2.0 $1.1 $0.3 $12.6 $— $0.1 $0.5 —% (0.01)% (0.03)% (0.02)%(0.02)% 0.07% 0.05% 0.04% 0.11% —%—% 0.01% 0.15% NCO ($s)NCO % Dec 22Mar 23Jun 23Sep 23Dec 23Mar 24Jun 24Sep 24Dec 24Mar 25Jun 25Sep 25Dec 25 $(5.0) $— $5.0 $10.0 $15.0 CRE Loan Portfolio •Continued strong credit quality with minimal past due accruing loans and 98.6% of portfolio graded pass •Softness in investor demand for NOOCRE (1) loans due to evolving market conditions continues to keep new construction starts down •Strong equity positions in the CRE portfolio help protect against slower stabilization periods Note: Values weighted by commitment; LTV = current commitment as of 12/31/25 divided by appraised value from origination or renewal; Metrics represent risk graded loans that cover approximately 98% of CRE & Construction Loans in the property types shown; (1) NOOCRE = Non-owner-occupied commercial real estate Key Property Metrics PropertyAll PropertiesConstruction TypesLTV %DSC RatioLTC % Multifamily49.6%1.4764.0% Warehouse51.4%1.6963.4% Retail53.5%1.6468.5% Prof. Office52.9%1.7164.3% Hospitality49.3%2.0464.2% PNFP CRE & Construction Accruing PD, Classified, and Non-Accruals 0.01%0.01%0.01%0.01%0.01%0.01%0.01%0.01%0.01% —% 0.01% 0.02% 0.01% 0.02% 0.01% 0.05% 0.23% 0.22%0.22% 0.16% 0.15% 0.12% 0.19% 0.18% 0.18% 0.12% 0.01% —%—% 0.01% 0.13% 0.16% 0.12%0.12% 0.13% 0.20% 0.19% 0.18% 0.13% Past Dues (Accruing)Classified LoansNon-Accrual Dec 22Mar 23Jun 23Sep 23Dec 23Mar 24Jun 24Sep 24Dec 24Mar 25Jun 25Sep 25Dec 25 Highlights 39 NOOCRE/Construction 100/300 Ratio Trends 86% 84% 71% 58% 164% 175% 172% 163% 100% Ratio - Target <70%300% Ratio - Target <225% 2022202320242025 —% 50% 100% 150% 200% 250% 300% CRE Loan Portfolio •Over 91% of NOOCRE Portfolio is in Pinnacle’s attractive Southeastern demographic markets •Reduced construction and land development loans as a percentage of total risk-based capital to 58% in 4Q25 •Remain cautious on 1-4 single family residential guidance lines while open to strategic opportunities in Pinnacle’s newer markets •An elevated cost environment continues to challenge projects’ return on cost and is suppressing overall new development pipelines from historical highs. An active senior debt market combined with limited number of new opportunities has resulted in a highly competitive landscape 4Q25 NOOCRE & Construction Balances/Total Loans 9% 5% 5% 2% 2% 2% 1% 1% Multifamily Warehouse Retail Professional Office 1-4 Family Hospitality Sr. Housing & Skilled Nursing Medical Office —% 1% 2% 3% 4% 5% 6% 7% 8% 9% 10% Highlights 40 4Q25 Multifamily Balances by Property Location 12% 11% 8% 8% 7% 5% 4% 4% 4% 3% Charlotte NC Nashville TN Raleigh NC Atlanta GA Orlando FL Charleston SC Austin TX Knoxville TN Chattanooga TN Huntsville AL —% 2% 4% 6% 8% 10% 12% 14% Multifamily Highlights (DRAFT) (1) Balances include NOOCRE & Construction; (2) Balances include CRE & Construction Multifamily Loan Portfolio Highlights •95% is located within the PNFP footprint •47% are MF Construction loans (by commitment): oAverage number of units - 300 ($20MM+ Construction) oTypically, 4 & 5-star, garden style apartments oLocated in core urban and suburban Southeastern markets with limited amount of central business district projects •Maturities will create a downward draft on CRE balances. The fluctuation of the 10-Yr may slow down potential pay-offs but debt markets continue to be plentiful with attractive refinance structures. •$34.5MM past due balances; 98% of risk rated loans are pass •18 loans at Dec. 31, 2025 with commitments greater than $40MM; Largest loan balance at Dec. 31, 2025 was $52.6MM Loan Size (by Comm.) Loan Count% of Balances % of Commitments Loan Age (Yrs) Unit Count (Avg) Construction Below $1MM30%0%0.736 $1MM - $5MM70%0%1.452 $5MM - $10MM31%1%2.1117 $10MM - $20MM133%5%1.7203 $20MM - $40MM5224%36%1.7284 Above $40MM54%5%2.4316 Construction Subtotal8332%47%1.7253 Term Below $1MM1522%1%6.620 $1MM - $5MM664%3%5.064 $5MM - $10MM204%3%4.6183 $10MM - $20MM166%5%4.0161 $20MM - $40MM3935%28%4.0325 Above $40MM1317%13%3.6289 Term Subtotal30668%53%5.5151 Grand Total389100%100%4.7183 4Q25 Multifamily Balances by Maturity Year 7% 4% 14% 26% 50% —%10%20%30%40%50%60% After 2029 2029 2028 2027 2026 (2) (1) 41 4Q25 Warehouse Balances by Property Location 10% 7% 6% 4%4% 3% 3% 3% 3% 3% Charlotte NC Nashville TN Atlanta GA Asheville NC Spartanburg SC Baltimore MD Greensboro NC Winchester VA Indianapolis IN Cincinnati OH —% 2% 4% 6% 8% 10% 12% Multifamily Highlights (DRAFT) Warehouse Loan Portfolio Highlights •Industrial production primarily focuses on construction opportunities with top-tier development platforms •Conservative loan basis exhibiting an average LTV of 51% and an average LTC of 63% for construction •Maturities will create a downward draft on CRE Balances. The fluctuation of the 10-Yr may slow down potential pay-offs but debt markets continue to be plentiful with attractive refinance structures. •Disciplined underwriting using un-trended rents has offset the increased costs of today’s higher rate environment •$0 past due balances; 99.9% of risk rated loans are pass •5 loans with commitments greater than $35MM at Dec. 31, 2025. Largest loan balance was $52.3MM at Dec. 31, 2025 Loan Size (by Comm.) Loan Count % of Balances % of Commitments Loan Age (Yrs) Square Feet (Avg) Construction Below $1MM10%0%3.00 $1MM - $5MM111%1%1.492,251 $5MM - $10MM51%1%1.5138,477 $20MM227%12%0.9183,213 $35MM278%25%1.1417,112 Above $35MM10%1%0.5332,520 Construction Subtotal6718%40%1.1273,463 Term Below $1MM1714%3%4.730,535 $1MM - $5MM12114%9%4.785,586 $5MM - $10MM2811%7%3.8141,642 $20MM1912%9%3.3221,370 $35MM2633%26%3.2516,764 Above $35MM49%6%4.1799,560 Term Subtotal36983%60%4.9131,943 Grand Total436100%100%4.3158,814 4Q25 Warehouse Balances by Maturity Year 11% 5% 15% 28% 40% —%5%10%15%20%25%30%35%40%45% After 2029 2029 2028 2027 2026 42 Multifamily Highlights (DRAFT) •95% of Professional Office CRE properties are in the legacy PNFP footprint. •The concentration in Nashville is primarily due to the participation in the Nashville Yards project (approximately 13% of the 37%). The loan consists of 3 office towers; 2 are 100% leased to investment grade tenants with favorable leases and the third is PNFP’s office and is 70% leased. •Granular office portfolio that represents 2.4% of total loans •Only 9 loans > $20MM ◦Average commitment of $32.4MM and average balance of $28.9MM ◦No spec construction, pre-leasing > 50% •Remaining 464 loans have an average outstanding balance of $1.44MM •LTV of 53%, LTC of 64%, Stabilized Occupancy of 90% •$68.7MM past due balances; 97% of risk rated loans are pass •4 loans with commitments greater than $35MM at Dec. 31, 2025. Largest office loan balance was $44.MM at Dec. 31, 2025. Professional Office Loan Portfolio Highlights Loan Size (by Comm.) Loan Count% of Balances % of Commitments Loan Age (Yrs) Square Feet (Avg) Construction Below $1MM20%0%7.397,014 $1MM - $5MM31%1%1.989,810 $5MM - $10MM11%1%2.30 $10MM - $20MM12%2%4.3551,103 $20MM - $35MM00%0%0.00 Above $35MM27%8%5.6573,114 Construction Subtotal910%11%4.2270,099 Term Below $1MM31012%11%6.411,924 $1MM - $5MM11929%28%5.431,664 $5MM - $10MM1511%11%5.464,816 $10MM - $20MM1318%18%5.1132,046 $20MM - $35MM513%13%5.5469,101 Above $35MM28%9%5.8511,299 Term Subtotal46490%89%6.044,789 Grand Total473100%100%6.052,459 4Q25 Professional Office Balances by Property Location 37% 12% 6% 6%6% 5% 3% 3% 3% 2% Nashville TN Raleigh NC Charlotte NC Durham NC Charleston SC Greenville SC Winston- Salem NC Knoxville TN Seattle WA Greensboro NC —% 10% 20% 30% 40% 4Q25 Professional Office Balances by Maturity Year 16% 6% 25% 22% 31% —%5%10%15%20%25%30%35% After 2029 2029 2028 2027 2026 43 4Q25 Single-Tenant Office LTVs LTV < 60%LTV 60% to 70%LTV 70% to 80%LTV ≥ 80% —% 10.0% 20.0% 30.0% 40.0% 50.0% 4Q25 Multi-Tenant Office LTVs LTV < 60%LTV 60% to 70%LTV 70% to 80%LTV ≥ 80% —% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0% 70.0% 80.0% 90.0% Multifamily Highlights (DRAFT) Professional Office Loan Portfolio Highlights Avg Bal: $2.5MM Avg Bal: $5.5MM Avg Bal: $4.0MM Avg Bal: $2.3MM Avg Bal: $2.1MM Avg Bal: $1.6MM Avg Bal: $3.6MM Avg Bal: $14.0MM 4Q25 Professional Office Portfolio by Type 5% 10% 30% 56% Office CondoMixed Use OfficeSingle TenantMulti-Tenant 44 Net Charge-Offs by Loan Type Annualized Net Loan Charge Offs by Loan Type 0.10% 0.15% 0.23% 0.21% 2022202320242025 CREConstructionC&IConsumer REConsumer and other Total Net Charge Off Rates (0.20)% —% 0.20% 0.40% 0.60% 0.80% 1.00% 1.20% 1.40% 1.60% 45 •BHG facilitates loans in as little as 3 days from application to funding •A truly diversified funding strategy creates ample liquidity to fund loan originations through: •BHG’s proprietary online auction platform encompassing over 1,700 unique banks historically •Programmatic sponsorship in the ABS market and institutional whole loan sale relationships; Wall Street continues to demand BHG product with recurring ABS issuances dating back to 2020. •BHG distinguishes itself by: •Targeting borrowers through direct mail and other sophisticated marketing techniques using a wide range of proprietary marketing tools •Underwriting applications through proprietary risk models, combining both credit & behavioral data points BHG Financial Overview 2025 Earnings of $240MM ($51MM in 4Q25) Supported by Significant Origination Growth and Solid Credit Performance Earnings Before Taxes ($ in Millions) Origination Volume ($ in Billions) Source: BHG Internal Data $2.8 $4.2 $3.9 $3.7 $6.1 20212022202320242025 $— $2.0 $4.0 $6.0 $8.0 $241 $295 $181 $130 $240 20212022202320242025 $— $100 $200 $300 $400 46 Bank Auction Platform Rates •Bank buy rates continued to decrease, demonstrating confidence in BHG credit •Auction platform spreads remain above long-term averages, finishing at 10.8% for 4Q25, highest since 2022 •BHG continues to work with bank partners to optimize risk/return dynamics and facilitate attractive loan economics BHG Credit Quality Continues to Impress Sophisticated credit scoring models produce impressive results BHG Produces Wide Spreads on Bank Auction and Balance Sheet Deals Spreads Above 10% for Off Balance Sheet Bank Network Sales and On Balance Sheet Loans Off Balance Sheet - Borrower Coupon and Bank Buy Rates Blended Portfolio Yield On Balance Sheet & Related on Balance Sheet Funding Costs On-Balance Sheet Rates •Chart details blended rates for the entire on-balance sheet portfolio at quarter end •Approximately 90% of balance sheet loans are fixed rate placements with locked in spreads approximating 11.1% for 4Q25 Source: BHG Internal Data 17.0% 16.7%16.7% 16.4% 17.0% 17.3%17.3% 17.6% 17.2% 17.4% 17.9%17.9% 7.6% 8.0% 8.6% 8.8% 8.9% 8.6% 8.1% 7.9% 7.7% 7.6%7.6% 7.1% Borrower Coupon on Loans Sold to BankBank Buy Rate 1Q232Q233Q234Q231Q242Q243Q244Q241Q252Q253Q254Q25 —% 3.0% 6.0% 9.0% 12.0% 15.0% 18.0% 15.4% 15.3% 15.5% 16.3%16.3% 15.9% 16.6% 16.8% 17.1% 17.2% 18.0% 17.6% 5.6% 5.9% 6.3% 6.6% 6.7% 6.4% 6.8% 6.6% 6.4% 6.5% 6.7% 6.5% Loan Interest Income YieldBorrowing Rates 1Q232Q233Q234Q231Q242Q243Q244Q241Q252Q253Q254Q25 —% 3.0% 6.0% 9.0% 12.0% 15.0% 18.0% 47 •Committed corporate line of credit with multiple banks •Multiple warehouse facilities with large banks to support short term financing, minimal utilization in recent history •Private secured financing with asset managers and national banks •Since 2020, BHG has regularly sponsored ABS transactions with competitive spread and successful execution •BHG’s proprietary online auction platform encompassing over 1,700 unique Banks historically •Multiple institutional investors acquire loans via the platform on a monthly basis •Purchases are executed at premium pricing, reflecting strong demand and perceived credit quality BHG Credit Quality Continues to Impress Sophisticated credit scoring models produce impressive results BHG Has Diverse, Growing Funding Channels Proactive Management of Placement Channels Continues to Provide Flexibility to BHG’s Platform Source: BHG Internal Data Loan Sales Community Bank Network Securitization Term Loan Financing Bank Warehouses Working Capital Line Loan Placement Channels Credit Facilities 48 BHG Financials $ in thousands4Q 20253Q 20252Q 2025 Interest Income$151,378$145,836$136,144 Interest Expense44,34843,02141,600 Provision for Loan Losses74,98893,22650,850 Net Interest Income After Provision for Loan Losses 32,0429,58943,694 Gains on Loan Sales and Origination Fees147,698187,739113,601 Other Income6,40737,73620,392 Total Net Revenues186,147235,064177,687 Gross Revenues305,483371,311270,137 Salary and Benefits63,99168,18157,882 Marketing Expenses24,66319,15917,518 Portfolio Expenses11,58512,03312,075 Other Expenses34,75842,33038,788 Total Operating Expenses134,997141,703126,263 Net Earnings51,15093,36151,424 Profitability Statistics: Earnings to Gross Revenue 16.74 % 25.14 % 19.04 % Portfolio Mgmt Exp to Gross Revenues 42.86 % 39.93 % 38.69 % Operating Expenses to Gross Revenue 40.40 % 34.92 % 42.27 % $ in thousandsAt Dec 31, 2025At Sep 30, 2025At Jun 30, 2025 Cash and Cash Equivalents742,324714,889592,500 Loans and Held for Investments3,288,2133,000,8752,664,514 Allowance for Loan Losses(376,051)(336,132)(279,136) Loans Held for Sale258,777313,917484,730 Premises and Equipment65,71566,36167,679 Other Assets284,936300,087294,386 Total Assets$4,263,914$4,059,997$3,824,673 Estimated Loan Substitutions & Prepayments708,780643,954624,392 Secured Borrowings2,501,9142,385,3752,083,777 Notes Payable275,000275,000375,000 Borrower Reimbursable Fee130,152137,248144,472 Other Liabilities208,000170,350176,690 Total Liabilities$3,823,846$3,611,928$3,404,331 Equity440,068448,069420,342 Total Liabilities and Stockholders Equity$4,263,914$4,059,997$3,824,673 Outstanding Loans purchased by Community Banks8,253,5068,134,9097,968,139 Soundness Statistics: Cash to Assets 17.41 % 17.61 % 15.49 % Equity to Assets 10.32 % 11.04 % 10.99 % Est. loan subs & prepay as % of Loans at Other Banks 8.59 % 7.92 % 7.84 % Allowance to Loans Held for Investment 11.44 % 11.20 % 10.48 % Total Reserves against Total Outstanding 9.40 % 8.80 % 8.50 % Source: BHG Internal Data, unaudited. 49 ($ in thousands)4Q253Q254Q2420252024 Net income available to common shareholders$165,983$169,338$147,461$626,673$459,864 Subtract/add: Investment securities (gains) losses, net4,099—(249)16,61171,854 ORE expense34614658687220 FDIC special assessment (7,500)——(7,500)7,250 Recognition of mortgage servicing asset ————(11,812) Fees related to terminating agreement to resell securities previously purchased and professional fees associated with capital optimization initiatives ————28,400 Merger-related expense (1) 13,9397,727—21,666— Tax effect of adjustments (2) (2,721)(1,968)48(7,866)(23,978) Adjusted net income available to common shareholders$174,146$175,243$147,318$650,271$531,798 Weighted average common shares outstanding, diluted77,74677,31077,38577,68977,131 Net income per common share, diluted$2.13$2.19$1.91$8.07$5.96 Adjusted net income per common share, diluted$2.24$2.27$1.90$8.37$6.89 Amounts may not total due to rounding; (1) As of the balance sheet date, a determination had not been made regarding whether certain merger-related costs will be tax deductible or not; therefore, merger-related expense has been tax effected; (2) Assumed marginal tax rate of 25% for 4Q25, 3Q25, 4Q24, 2025 and 2024 Non-GAAP Financial Measures 50 ($ in thousands)4Q253Q254Q2420252024 Net interest income$407,435$396,865$363,790$1,548,261$1,365,590 Total non-interest revenue134,769147,938111,545506,590371,178 Total non-interest expense302,656303,139261,8971,167,7281,034,970 Pre-provision net revenue (PPNR)$239,548$241,664$213,438$887,123$701,798 Net interest income$407,435$396,865$363,790$1,548,261$1,365,590 Taxable equivalent adjustment17,15415,22112,05558,70647,680 TE net interest income424,589412,086375,8451,606,9671,413,270 Total non-interest revenue134,769147,938111,545506,590371,178 Total TE revenue559,358560,024487,3902,113,5571,784,448 Subtract: Investment securities (gains) losses, net4,099—(249)16,61171,854 Recognition of mortgage servicing asset————(11,812) Adjusted total revenue (TE)$563,457$560,024$487,141$2,130,168$1,844,490 Total non-interest expense$302,656$303,139$261,897$1,167,728$1,034,970 Subtract: ORE expense34614658687220 FDIC special assessment(7,500)——(7,500)7,250 Fees related to terminating agreement to resell securities previously purchased and professional fees associated with capital optimization initiatives ————28,400 Merger-related expense13,9397,727—21,666— Adjusted non-interest expense$295,871$295,266$261,839$1,152,875$999,100 Adjusted revenue (TE)$563,457$560,024$487,141$2,130,168$1,844,490 Adjusted non-interest expense295,871295,266261,8391,152,875999,100 Adjusted PPNR$267,586$264,758$225,302$977,293$845,390 Amounts may not total due to rounding. Non-GAAP Financial Measures, Continued 51 ($ in thousands)4Q253Q252Q251Q254Q24 Net income$165,983$169,338$154,742$136,610$147,461 Investment securities (gains) losses, net4,099——12,512(249) ORE expense3461461375858 FDIC special assessment(7,500)———— Merger-related expense (1) 13,9397,727——— Tax effect of adjustments (2) (2,721)(1,968)(34)(3,143)48 Adjusted net income$174,146$175,243$154,844$146,037$147,318 Net income annualized$658,520$671,830$620,668$554,029$586,638 Adjusted net income annualized$690,905$695,258$621,078$592,261$586,069 Total average assets$56,705,549$55,213,879$53,824,500$52,525,831$51,166,643 Return on average assets (annualized)1.16%1.22%1.15%1.05%1.15% Adjusted return on average assets (annualized)1.22%1.26%1.15%1.13%1.15% Non-GAAP Financial Measures, Continued Amounts may not total due to rounding; (1) As of the balance sheet date, a determination had not been made regarding whether certain merger-related costs will be tax deductible or not; therefore, merger-related expense has been tax effected; (2) Assumed marginal tax rate of 25% for 4Q25, 3Q25,4Q24, 2025 and 2024 52 Non-GAAP Financial Measures, Continued ($ in thousands)20252024 Net income$626,673$459,864 Subtract/add: Investment securities (gains) losses, net16,61171,854 ORE expense687220 FDIC special assessment(7,500)7,250 Recognition of mortgage servicing asset—(11,812) Fees related to terminating agreement to resell securities previously purchased and professional fees associated with capital optimization initiatives —28,400 Merger-related expense (1) 21,666— Tax effect of adjustments (2) (7,866)(23,978) Adjusted net income$650,271$531,798 Total average assets$54,580,662$49,446,853 Return on average assets1.15%0.93% Adjusted return on average assets 1.19%1.08% Amounts may not total due to rounding; (1) As of the balance sheet date, a determination had not been made regarding whether certain merger-related costs will be tax deductible or not; therefore, merger-related expense has been tax effected; (2) Assumed marginal tax rate of 25% for 4Q25, 3Q25,4Q24, 2025 and 2024 53 Non-GAAP Financial Measures, Continued ($ in thousands)4Q253Q252Q251Q254Q24 Net income available to common shareholders$165,983$169,338$154,742$136,610$147,461 Investment securities (gains) losses, net4,099——12,512(249) ORE expense3461461375858 FDIC special assessment(7,500)———— Merger-related expense (1) 13,9397,727——— Tax effect of adjustments (2) (2,721)(1,968)(34)(3,143)48 Adjusted net income available to common shareholders$174,146$175,243$154,844$146,037$147,318 Adjusted net income available to common shareholders annualized$690,905$695,258$621,078$592,261$586,069 Total average shareholders' equity less preferred stock$6,749,871$6,504,443$6,384,536$6,298,778$6,188,741 Average goodwill1,848,9041,848,9041,849,2551,849,2601,846,998 Average other intangible assets, net23,55418,98520,15020,90523,054 Total average tangible shareholders' equity less preferred stock$4,877,413$4,636,554$4,515,131$4,428,613$4,318,689 Return on average common equity (annualized)9.76%10.33%9.72%8.80%9.48% Adjusted return on average common equity (annualized)10.24%10.69%9.73%9.40%9.47% Return on average tangible common equity (annualized)13.50%14.49%13.75%12.51%13.58% Adjusted return on average tangible common equity (annualized)14.17%15.00%13.76%13.37%13.57% Amounts may not total due to rounding; (1) As of the balance sheet date, a determination had not been made regarding whether certain merger-related costs will be tax deductible or not; therefore, merger-related expense has been tax effected; (2) Assumed marginal tax rate of 25% for 4Q25, 3Q25,4Q24, 2025 and 2024 54 Non-GAAP Financial Measures, Continued ($ in thousands)20252024 Net income available to common shareholders$626,673$459,864 Investment securities (gains) losses, net16,61171,854 ORE expense687220 FDIC special assessment(7,500)7,250 Recognition of mortgage servicing asset—(11,812) Fees related to terminating agreement to resell securities previously purchased and professional fees associated with capital optimization initiatives —28,400 Merger-related expense (1) 21,666— Tax effect of adjustments (2) (7,866)(23,978) Adjusted net income available to common shareholders$650,271$531,798 Total average shareholders' equity less preferred stock$6,485,698$6,006,718 Average goodwill1,849,0791,846,979 Average other intangible assets, net20,90124,744 Total average tangible shareholders' equity less preferred stock$4,615,718$4,134,995 Return on average common equity9.66%7.66% Adjusted return on average common equity10.03%8.85% Return on average tangible common equity13.58%11.12% Adjusted return on average tangible common equity14.09%12.86% Amounts may not total due to rounding; (1) As of the balance sheet date, a determination had not been made regarding whether certain merger-related costs will be tax deductible or not; therefore, merger-related expense has been tax effected; (2) Assumed marginal tax rate of 25% for 4Q25, 3Q25,4Q24, 2025 and 2024 55 Amounts may not total due to rounding. Non-GAAP Financial Measures, Continued ($ in thousands)4Q253Q252Q251Q254Q2420252024 Total non-interest revenue$134,769$147,938$125,457$98,426$111,545$506,590$371,178 Investment securities (gains) losses, net4,099——12,512(249)16,61171,854 Mortgage servicing asset——————(11,812) Adjusted non-interest revenue$138,868$147,938$125,457$110,938$111,296$523,201$431,220 56 Amounts may not total due to rounding. Non-GAAP Financial Measures, Continued ($ in thousands)4Q253Q252Q251Q254Q24 Total non-interest expense$302,656$303,139$286,446$275,487$261,897 ORE expense3461461375858 FDIC special assessment(7,500)———— Merger-related expense13,9397,727——— Adjusted non-interest expense$295,871$295,266$286,309$275,429$261,839 Adjusted non-interest expense$295,871$295,266$286,309$275,429$261,839 Net interest income$407,435$396,865$379,533$364,428$363,790 Taxable equivalent (TE) adjustment17,15415,22113,81512,51612,055 Total non-interest revenue134,769147,938125,45798,426111,545 Total TE revenue$559,358$560,024$518,805$475,370$487,390 Investment securities (gains) losses, net4,099——12,512(249) Adjusted total revenue (TE)$563,457$560,024$518,805$487,882$487,141 Efficiency ratio-(TE)54.11%54.13%55.21%57.95%53.73% Adjusted tangible efficiency ratio52.51%52.72%55.19%56.45%53.75% 57 Amounts may not total due to rounding. Non-GAAP Financial Measures, Continued ($ in thousands)20252024 Total non-interest revenue$506,590$371,178 Investment securities (gains) losses, net16,61171,854 Recognition of mortgage servicing asset—(11,812) Adjusted non-interest revenue$523,201$431,220 Total non-interest expense$1,167,728$1,034,970 ORE expense687220 FDIC special assessment(7,500)7,250 Fees related to terminating agreement to resell securities previously purchased and professional fees associated with capital optimization initiatives —28,400 Merger-related expense21,666— Adjusted non-interest expense$1,152,875$999,100 Adjusted non-interest expense$1,152,875$999,100 Net interest income1,548,2611,365,590 Taxable equivalent (TE) adjustment58,70647,680 Total non-interest revenue506,590371,178 Total TE revenue$2,113,557$1,784,448 Investment securities (gains) losses, net16,61171,854 Recognition of mortgage servicing asset—(11,812) Adjusted total revenue (TE)$2,130,168$1,844,490 Efficiency ratio-(TE)55.25%58.00% Adjusted tangible efficiency ratio54.12%54.17% 58 Amounts may not total due to rounding. Non-GAAP Financial Measures, Continued ($ in thousands)4Q253Q252Q251Q254Q24 Total assets$57,706,053$55,963,549$54,801,451$54,254,804$52,589,449 Goodwill1,848,9041,848,9041,848,9041,849,2601,849,260 Other intangible assets, net29,71518,10819,50620,00721,423 Tangible assets$55,827,434$54,096,537$52,933,041$52,385,537$50,718,766 Total shareholders’ equity$7,043,715$6,856,192$6,637,237$6,543,142$6,431,881 Goodwill1,848,9041,848,9041,848,9041,849,2601,849,260 Other intangible assets, net29,71518,10819,50620,00721,423 Preferred Stock217,126217,126217,126217,126217,126 Tangible common equity$4,947,970$4,772,054$4,551,701$4,456,749$4,344,072 Total shareholders’ equity to total assets ratio12.21%12.25%12.11%12.06%12.23% Tangible common equity ratio8.86%8.82%8.60%8.51%8.57% Tangible common equity$4,947,970$4,772,054$4,551,701$4,456,749$4,344,072 Common shares outstanding77,66277,55877,54877,55477,242 Book value per common share$87.90$85.60$82.79$81.57$80.46 Tangible book value per common share$63.71$61.53$58.70$57.47$56.24 59 Reconciliation of Non-GAAP Financial Measures Synovus Standalone Fourth Quarter 2025 Supplemental Information 61 Credit Quality & Capital Non-Interest Revenue Non-Interest Expense Synovus' Fourth Quarter 2025 Highlights Net Interest Income •Strong 4Q25 loan growth was primarily attributable to corporate and investment banking, specialty lending verticals and middle market credits •Core deposit (1) growth was supported by public funds and middle market account seasonality •NIM expansion was supported by various factors including continued fixed-rate asset repricing and the funding benefits of core deposit growth •QoQ broad-based growth in wealth, core banking and capital markets supported non-interest revenue growth •$14 million incremental taxes and penalty assessed on $220 million BOLI surrender; +$4 million revenue equals ~3.5 year payback period •QoQ non-interest expense growth was impacted by an increase in incentives and charitable donations which more than offset a FDIC special assessment reversal •NCOs were in line with expectations •~25% of 4Q25 NCOs were from a $7.4 million aged HELOC portfolio, which includes a sale and charge- off •The majority of the NPL increase was due to a $38.6 million C&I credit •Capital levels continued to build in anticipation of the closing of the merger; CET1 Ratio (2) finished at all- time high of 11.28% (1) Excludes brokered; (2) 4Q25 capital ratios are preliminary 62 Credit Quality Amounts may not total due to rounding; (1) Annualized. 174%185%200%249%207% ACL to NPLs: Allowance for Credit Losses ($ in millions) $539 $529 $514 $520 $529 4Q241Q252Q253Q254Q25 Allowance for Credit Losses Ratio Allowance for Credit Losses 1.27%1.24%1.18%1.19%1.19% $28 $21 $18 $15 $24 4Q241Q252Q253Q254Q25 Net Charge-Offs ($ in millions) 4.0% 3.8% 3.6% 3.4% 3.0% 4Q241Q252Q253Q254Q25 NPA and Criticized & Classified Loan Ratios Net Charge-Off Ratio (1) Net Charge-Offs NPAs/Loans+REO % Criticized & Classified Loans as a % of Total Loans 0.26%0.20%0.17%0.14%0.73%0.67%0.59%0.53%0.22%0.62% •~25% of 4Q25 NCOs were from a $7.4 million aged HELOC portfolio, which includes a sale and charge-off •Linked quarter NPL increase primarily due to one C&I credit totaling $38.6 million Highlights 63 Risk Distribution ($ in millions) Amounts may not total due to rounding. $1,086 $1,333 $1,484 $1,527 $1,634 $1,590 $1,693 $1,683 $1,610 $1,566 $1,481 $1,341 2.5% 3.0% 3.4% 3.5% 3.8% 3.7% 3.9% 4.0% 3.8% 3.6% 3.4% 3.0% Criticized and Classified Loans% of Total Loans 1Q232Q233Q234Q231Q242Q243Q244Q241Q252Q253Q254Q25 Portfolio Risk DistributionCriticized & Classified Loans CompositionChange Risk Category4Q253Q25 4Q25 vs. 3Q25 Passing Grades$43,284$42,272$1,013 Special Mention521650(129) Substandard Accruing 564622(58) Non-Performing Loans 25620947 Total Loans $44,626$43,753$872 64 Amounts may not total due to rounding. (1) Other factors include the addition to the ACL associated with the cessation of a third-party lending relationships and decline in that portfolio as well as the impact of dispositions, etc; (2) Upside refers to November 2025 "S1" Upside 10th Percentile scenario; (3) Downside refers to Moody's November 2025 "S3" Downside 10th Percentile scenario; (4) Slow Growth refers to Moody's November 2025 "S5" Slow Growth; (5) Corresponds to Moody's November 2025 Scenarios ACL/Loans: Economic Scenario Assumptions and Weightings 1.19%1.19% $529 $520 $(15) $7 $5 $13 $(1) 3Q25Economic Conditions Other Qualitatives PerformanceNet Growth Other4Q25 (1) 4Q25Change from2026 (5) 2027 (5) ScenarioModel WeightingPrevious QuarterGDP UnemploymentGDP Unemployment Consensus Baseline55%5%1.8%4.4%2.0%4.3% Upside (2) 10%(5)%3.3%3.8%2.6%3.9% Downside (3) 5%—%(1.2)%7.4%0.2%8.1% Slow Growth (4) 30%—%1.4%5.3%1.1%5.6% Weighted Average1.7%4.8%1.7%4.8% Allowance for Credit Losses ($ in millions) 65 •93% are income-producing properties •Diversity among property types and geographies •Industry Focused C&I (1) is well-diversified among multiple lines of business •C&I industry mix aligned with economic and demographic drivers •SNCs total $5.8 billion, ~$595 million of which is agented by SNV •Weighted average credit score of 796 and 785 for Home Equity and Mortgage, respectively •Weighted average LTV of 71% and 68% for Home Equity and Mortgage, respectively (2) Consumer Portfolio $8.2 billion CRE Portfolio $12.1 billion C&I Portfolio $24.3 billion 4Q25 Portfolio CharacteristicsC&ICREConsumer NPL Ratio0.62%0.32%0.80% QTD Net Charge-off Ratio (annualized)0.12%0.18%0.54% 30+ Days Past Due Ratio0.10%0.02%0.42% 90+ Days Past Due Ratio0.01%0.00%0.02% Amounts may not total due to rounding; (1) Industry Focused C&I is primarily comprised of our seniors housing portfolio, national accounts, structured lending (primarily lender finance) and insurance premium finance; (2) LTV is calculated by dividing the most recent appraisal value (typically at origination) by the sum of the 12/31/2025 commitment amount and any existing senior lien Loan Portfolio by Category 25% 24% 5% 9% 6% 4% 4% 3% 1% 16% 3% Market Based C&I Industry-Focused C&I Other C&I Multi-Family Other CRE Hotel Office Retail Residential C&D & Land Consumer Real Estate Consumer Non-Real Estate Highly Diverse Loan Mix 66 Credit Indicator 4Q25 NPL Ratio0.62% Net Charge-off Ratio (annualized)0.12% 30+ Days Past Due Ratio0.10% 90+ Days Past Due Ratio0.01% Diverse Industry Exposure 4Q25 Total C&I Portfolio $24.3 billion Amounts may not total due to rounding; (1) These segments are not two-digit NAICS industry divisions; Seniors Housing is a subset of NAICS 62 Health Care and Social Assistance, and lessors of R/E and R/E leasing together comprise NAICS 53 Real Estate, Rental, and Leasing C&I Loan Portfolio 23.9% 12.9% 7.1% 6.4% 5.9% 5.4% 5.1% 4.3% 4.1% 3.8% 3.6% 3.3% 3.1% 3.1% 2.2% 2.0% 1.9% 1.0% .8% Finance/Insurance Senior Housing Accom. & Food Svcs. Lessors of R/E Health Care Manufacturing Wholesale Trade Retail Trade Construction Other Services Prof., Scientific, Tech. Svcs. Transport/Warehousing R/E Leasing All Other Arts, Entertainment, & Rec. Public Administration Educational Svcs. Ag, Forestry, Fishing Admin., Support, Waste Mgmt. (1) (1) (1) •Approximately 95% of the C&I Portfolio is Collateralized •Wholesale Bank (includes Market Based and Industry Focused Lines) represents 70% of C&I balances •Finance/Insurance predominantly represented by secured lender finance portfolio ◦0.00% NPL Ratio ◦0.00% Net Charge-Off Ratio (annualized) ◦0.09% 30+ Day Past Due Ratio 5% 15% 13% 7% 24% 37% Owner-Occupied CRE Inventory/Receivables Insurance Premium Finance Lender Finance Other Collateral Unsecured 67 Commercial Real Estate Loan Portfolio Composition of 4Q25 CRE Portfolio Total Portfolio $12.1 billion Investment PropertiesLand, Development and Residential Properties Portfolio Characteristics                (as of December 31, 2025) Office Building Multi-family Shopping Centers Hotels Other Investment Properties WarehouseResidential Properties (1) Development & Land Balance (in millions)$1,627$3,827$1,483$1,933$1,448$961$542$275 Weighted Average LTV (2)(3) 56%53%55%52%52%52%NANA NPL Ratio2.06%0.00%0.10%0.00%0.03%0.01%0.51%0.07% Net Charge-off Ratio (annualized) 1.06%0.00%0.00%0.00%0.11%0.00%0.12%0.74% 30+ Days Past Due Ratio0.03%0.01%0.00%0.00%0.02%0.00%0.21%0.19% 90+ Days Past Due Ratio0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00% Investment Properties portfolio represent 93% of total CRE portfolio ◦The portfolio is well diversified among property types CRE Credit Quality ◦0.32% NPL Ratio ◦0.18% Net Charge-Off Ratio (annualized) ◦0.02% 30+ Day Past Due Ratio ◦0.00% 90+ Day Past Due Ratio Amounts may not total due to rounding; (1) Includes 1-4 Family Construction and 1-4 Family Perm/Mini-Perm (primarily rental homes); (2) LTV calculated by dividing most recent appraisal (typically at origination) on non-construction component of portfolio by the 12/31/25 commitment amount and any senior lien; (3) Methodology for calculated LTV differs from LTV’s noted on other CRE slides 31.6% 16.0% 13.5% 12.0% 12.3% 7.9% 2.7% 2.3% 1.8% Multi-Family Hotels Office Building Other Investment Properties Shopping Center Warehouses 1-4 Family Perm/Mini-Perm Land Acquisition & Dev. 1-4 Family Construction 68 Credit Indicator4Q25 NPL Ratio0.80% Net Charge-off Ratio (annualized)0.54% 30+ Days Past Due Ratio0.42% 90+ Days Past Due Ratio0.02% Total Consumer Portfolio $8.2 billion Credit Indicator Home EquityMortgage Weighted Average Credit Score of 4Q25 Originations 797768 Weighted Average Credit Score of Total Portfolio 796785 Weighted Average LTV (1) 71%68% Weighted Average DTI (2) 35%32% Utilization Rate 40%N/A Amounts may not total due to rounding; (1) LTV is calculated by dividing the most recent appraisal value (typically at origination) by the sum of the 12/31/2025 commitment amount and any existing senior lien; (2) Weighted Average DTI of 4Q25 originations Consumer Credit Quality Consumer Loan Portfolio •86% of Consumer portfolio is backed by residential real estate •Other Consumer includes secured and unsecured products •Average consumer card utilization rate is 23% •Third-party HFI portfolio $614 million 63.3% 22.4% 7.5% 4.6% 2.3% Consumer Mortgage Home Equity Third-Party HFI Other Consumer Credit Card 69 ($ in millions; rates annualized) December 20254Q253Q25 Avg. RateAvg. BalanceAvg. RateAvg. BalanceAvg. Rate Non-interest-bearingN/A$11,420N/A$11,341N/A Interest-bearing non-maturity (NMD)2.13%$27,1132.20%$26,6092.43% Time3.37%$7,5663.37%$7,1483.39% Brokered3.94%$5,0714.11%$5,0594.49% Total interest-bearing2.59%$39,7502.66%$38,8162.88% Total deposits2.02%$51,1702.07%$50,1572.23% Total Average Deposit Costs 70 4Q253Q252Q251Q254Q24 Financial Performance Diluted EPS$1.22$1.33$1.48$1.30$1.25 Net interest margin (1) 3.45%3.41%3.37%3.35%3.28% Efficiency ratio-TE55.3856.5153.0353.8153.15 Adjusted tangible efficiency ratio (2) 51.2951.8352.3153.2652.69 ROAA (1) 1.181.301.461.321.25 Adjusted ROAA (1)(2) 1.391.421.461.321.25 ROCE (1) 12.6214.3616.7115.4814.75 ROTCE (1)(2) 14.0916.1118.8117.5216.72 Adjusted ROTCE (1)(2) 16.6617.6918.8217.5816.67 Balance Sheet QoQ Growth Total loans2%0%2%0%(1)% Total deposits3%0%(2)%0%2% Credit Quality NPA ratio0.62%0.53%0.59%0.67%0.73% NCO ratio (1) 0.220.140.170.200.26 Capital Common shares outstanding (3) 138,894138,813138,782139,214141,166 Common Equity Tier 1 capital ratio11.28%11.22%10.96%10.77%10.84% Tier 1 ratio12.36%12.33%12.06%11.89%11.96% Leverage ratio10.12%10.02%9.86%9.56%9.55% Tangible common equity ratio (2) 8.147.967.557.267.02 (1) Annualized; (2) Non-GAAP financial measure; see applicable reconciliation; (3) In thousands; (4) Preliminary (4) Quarterly Highlights Trend (4) (4) 71 ($ in thousands)4Q253Q254Q2420252024 Net income available to common shareholders$171,054$185,590$178,848$746,655$439,557 Restructuring charges (reversals)(338)(747)37(2,305)2,121 Valuation adjustment on GLOBALT earnout(719)—(719)(719)(719) Valuation adjustment to Visa derivative2,9402,911—8,0518,700 (Gain) loss on early extinguishment of debt1,344——1,344— Investment securities (gains) losses, net1,038(1,742)—(704)256,660 Merger-related expense (1) 18,50423,757—42,261— Tax on surrender of bank-owned life insurance policies14,227——14,227— Tax effect of adjustments (2) (5,499)(5,839)165(11,575)(64,423) Adjusted net income available to common shareholders $202,551$203,930$178,331$797,235$641,896 Weighted average common shares outstanding, diluted139,733139,612142,694140,149144,998 Net income per common share, diluted$1.22$1.33$1.25$5.33$3.03 Adjusted net income per common share, diluted $1.45$1.46$1.25$5.69$4.43 Amounts may not total due to rounding; (1) As of the balance sheet date, a determination had not been made regarding whether certain merger-related costs will be tax deductible or not; therefore, merger-related expense has been tax effected; (2) Assumed marginal tax rate of 24.2% for 4Q24, 3Q25,4Q24, 2025 and 2024 Non-GAAP Financial Measures 72 ($ in thousands)4Q253Q254Q2420252024 Net interest income$484,577$474,695$454,993$1,873,217$1,749,577 Total non-interest revenue145,094140,697125,587536,392239,604 Total non-interest expense(349,594)(348,729)(309,311)(1,322,058)(1,247,543) Pre-provision net revenue (PPNR)$280,077$266,663$271,269$1,087,551$741,638 Net interest income$484,577$474,695$454,993$1,873,217$1,749,577 Taxable equivalent adjustment1,6321,7361,4306,6075,485 TE net interest income486,209476,431456,4231,879,8241,755,062 Total non-interest revenue145,094140,697125,587536,392239,604 Total TE revenue631,303617,128582,0102,416,2161,994,666 Valuation adjustment on Globalt earnout(719)—(719)(719)(719) Investment securities (gains) losses, net1,038(1,742)—(704)256,660 Fair value adjustment on non-qualified deferred compensation(1,163)(2,592)(237)(6,214)(5,159) Adjusted total revenue (TE)$630,459$612,794$581,054$2,408,579$2,245,448 Total non-interest expense$349,594$348,729$309,311$1,322,058$1,247,543 Restructuring (charges) reversals338747(37)2,305(2,121) Gain (loss) on early extinguishment of debt(1,344)——(1,344)— Fair value adjustment on non-qualified deferred compensation(1,163)(2,592)(237)(6,214)(5,159) Merger-related expense(18,504)(23,757)—(42,261)— Valuation adjustment to Visa derivative(2,940)(2,911)—(8,051)(8,700) Adjusted non-interest expense$325,981$320,216$309,037$1,266,493$1,231,563 Adjusted revenue (TE)$630,459$612,794$581,054$2,408,579$2,245,448 Adjusted non-interest expense(325,981)(320,216)(309,037)(1,266,493)(1,231,563) Adjusted PPNR$304,478$292,578$272,017$1,142,086$1,013,885 Amounts may not total due to rounding. Non-GAAP Financial Measures, Continued 73 ($ in thousands)4Q253Q252Q251Q254Q24 Net income$181,696$196,505$217,119$194,872$189,377 Restructuring charges (reversals)(338)(747)72(1,292)37 Valuation adjustment on GLOBALT earnout(719)———(719) Valuation adjustment to Visa derivative2,9402,911—2,200— (Gain) loss on early extinguishment of debt1,344———— Investment securities (gains) losses, net1,038(1,742)——— Merger-related expense (1) 18,50423,757——— Tax on surrender of bank-owned life insurance policies14,227———— Tax effect of adjustments (2) (5,499)(5,839)(17)(219)165 Adjusted net income$213,193$214,845$217,174$195,561$188,860 Net income annualized$720,859$779,612$870,862$790,314$753,391 Adjusted net income annualized$845,820$852,374$871,083$793,109$751,334 Total average assets$60,839,497$60,085,552$59,577,113$59,876,546$60,174,616 Return on average assets (annualized)1.18%1.30%1.46%1.32%1.25% Adjusted return on average assets (annualized) 1.39%1.42%1.46%1.32%1.25% Amounts may not total due to rounding; (1) As of the balance sheet date, a determination had not been made regarding whether certain merger-related costs will be tax deductible or not; therefore, merger-related expense has been tax effected; (2) Assumed marginal tax rate of 24.2% for 4Q25, 3Q25, 2Q25,1Q25, and 4Q24 Non-GAAP Financial Measures, Continued 74 ($ in thousands)20252024 Net income$790,192$479,451 Restructuring charges (reversals)(2,305)2,121 Valuation adjustment to Visa derivative8,0518,700 Valuation adjustment on GLOBALT earnout(719)(719) Loss (gain) on early extinguishment of debt1,344— Investment securities losses (gains), net(704)256,660 Merger-related expense (1) 42,261— Tax on surrender of bank-owned life insurance policies14,227— Tax effect of adjustments (2) (11,575)(64,423) Adjusted net income$840,772$681,790 Total average assets$60,097,290$59,408,317 Return on average assets1.31%0.81% Adjusted return on average assets 1.40%1.15% Amounts may not total due to rounding; (1) As of the balance sheet date, a determination had not been made regarding whether certain merger-related costs will be tax deductible or not; therefore, merger-related expense has been tax effected; (2) Assumed marginal tax rate of 24.2% for 2025 and 2024 Non-GAAP Financial Measures, Continued 75 ($ in thousands)4Q253Q252Q251Q254Q24 Net income available to common shareholders$171,054$185,590$206,320$183,691$178,848 Restructuring charges (reversals)(338)(747)72(1,292)37 Valuation adjustment on GLOBALT earnout(719)———(719) Loss (gain) on early extinguishment of debt1,344———— Valuation adjustment to Visa derivative2,9402,911—2,200— Investment securities losses (gains), net1,038(1,742)——— Merger-related expense (1) 18,50423,757——— Tax on surrender of bank-owned life insurance policies14,227———— Tax effect of adjustments (2) (5,499)(5,839)(17)(219)165 Adjusted net income available to common shareholders$202,551$203,930$206,375$184,380$178,331 Adjusted net income available to common shareholders annualized$803,599$809,070$827,768$747,763$709,447 Amortization of intangibles, tax effected, annualized7,9057,9077,9938,0828,715 Adjusted net income available to common shareholders excluding amortization of intangibles annualized$811,504$816,977$835,761$755,845$718,162 Net income available to common shareholders annualized$678,638$736,308$827,547$744,969$711,504 Amortization of intangibles, tax effected, annualized7,9057,9077,9938,0828,715 Net income available to common shareholders excluding amortization of intangibles annualized$686,543$744,215$835,540$753,051$720,219 Total average Synovus Financial Corp. shareholders' equity less preferred stock$5,377,147$5,127,084$4,952,297$4,812,279$4,824,003 Average goodwill(480,440)(480,440)(480,440)(480,440)(480,440) Average other intangible assets, net(25,211)(27,665)(30,398)(32,966)(35,869) Total average Synovus Financial Corp. tangible shareholders' equity less preferred stock$4,871,496$4,618,979$4,441,459$4,298,873$4,307,694 Return on average common equity (annualized)12.62%14.36%16.71%15.48%14.75% Adjusted return on average common equity (annualized)14.94%15.78%16.71%15.54%14.71% Return on average tangible common equity (annualized)14.09%16.11%18.81%17.52%16.72% Adjusted return on average tangible common equity (annualized)16.66%17.69%18.82%17.58%16.67% Amounts may not total due to rounding; (1) As of the balance sheet date, a determination had not been made regarding whether certain merger-related costs will be tax deductible or not; therefore, merger-related expense has been tax effected; (2) Assumed marginal tax rate of 24.2% for 4Q25, 3Q25, 2Q25, 1Q25, and 4Q24 Non-GAAP Financial Measures, Continued 76 ($ in thousands)20252024 Net income available to common shareholders$746,655$439,557 Restructuring charges (reversals)(2,305)2,121 Valuation adjustment to Visa derivative8,0518,700 Valuation adjustment on GLOBALT earnout(719)(719) Loss (gain) on early extinguishment of debt1,344— Investment securities losses (gains), net(704)256,660 Merger-related expense (1) 42,261— Tax on surrender of bank-owned life insurance policies14,227— Tax effect of adjustments (2) (11,575)(64,423) Adjusted net income available to common shareholders$797,235$641,896 Amortization of intangibles, tax effected$7,971$8,806 Adjusted net income available to common shareholders excluding amortization of intangibles $805,206$650,702 Net income available to common shareholders746,655439,557 Amortization of intangibles, tax effected7,971$8,806 Net income available to common shareholders excluding amortization of intangibles$754,626$448,363 Total average Synovus Financial Corp. shareholders' equity less preferred stock$5,068,914$4,629,343 Average goodwill(480,440)(480,555) Average other intangible assets, net(29,035)(40,161) Total average Synovus Financial Corp. tangible shareholders' equity less preferred stock$4,559,439$4,108,627 Return on average common equity14.73%9.50% Adjusted return on average common equity15.73%13.87% Return on average tangible common equity16.55%10.91% Adjusted return on average tangible common equity17.66%15.84% Amounts may not total due to rounding; (1) As of the balance sheet date, a determination had not been made regarding whether certain merger-related costs will be tax deductible or not; therefore, merger-related expense has been tax effected; (2) Assumed marginal tax rate of 24.2% for 2025 and 2024 Non-GAAP Financial Measures, Continued 77 Total non-interest expense$349,594$348,729$315,701$308,034$309,311 Restructuring (charges) reversals338747(72)1,292(37) Valuation adjustment to Visa derivative(2,940)(2,911)—(2,200)— (Loss) gain on early extinguishment of debt(1,344)———— Fair value adjustment on non-qualified deferred compensation(1,163)(2,592)(3,275)816(237) Merger-related expense(18,504)(23,757)——— Adjusted non-interest expense$325,981$320,216$312,354$307,942$309,037 Adjusted non-interest expense$325,981$320,216$312,354$307,942$309,037 Amortization of intangibles(2,627)(2,627)(2,627)(2,627)(2,888) Adjusted tangible non-interest expense$323,354317,589309,727305,315306,149 Net interest income$484,577$474,695$459,561$454,384$454,993 Taxable equivalent (TE) adjustment1,6321,7361,6621,5771,430 Total non-interest revenue145,094140,697134,135116,466125,587 Total TE revenue$631,303$617,128$595,358$572,427$582,010 Investment securities (gains) losses, net1,038(1,742)——— Valuation adjustment on Globalt earnout(719)———(719) Fair value adjustment on non-qualified deferred compensation(1,163)(2,592)(3,275)816(237) Adjusted total revenue (TE)$630,459$612,794$592,083$573,243$581,054 Efficiency ratio-(TE)55.38%56.51%53.03%53.81%53.15% Adjusted tangible efficiency ratio51.29%51.83%52.31%53.26%52.69% Non-GAAP Financial Measures, Continued Amounts may not total due to rounding ($ in thousands) 4Q253Q252Q251Q254Q24 Total non-interest revenue$145,094$140,697$134,135$116,466$125,587 Valuation adjustment on GLOBALT earnout(719)———(719) Investment securities (gains) losses, net1,038(1,742)——— Fair value adjustment on non-qualified deferred compensation(1,163)(2,592)(3,275)816(237) Adjusted non-interest revenue$144,250$136,363$130,860$117,282$124,631 78 ($ in thousands)20252024 Total non-interest revenue$536,392$239,604 Valuation adjustment on GLOBALT earnout(719)(719) Investment securities losses (gains), net(704)256,660 Fair value adjustment on non-qualified deferred compensation(6,214)(5,159) Adjusted non-interest revenue$528,755$490,386 Total non-interest expense$1,322,058$1,247,543 Restructuring (charges) reversals2,305(2,121) Valuation adjustment to Visa derivative(8,051)(8,700) (Loss) gain on early extinguishment of debt(1,344)— Fair value adjustment on non-qualified deferred compensation(6,214)(5,159) Merger-related expense(42,261)— Adjusted non-interest expense$1,266,493$1,231,563 Adjusted non-interest expense$1,266,493$1,231,563 Amortization of intangibles(10,510)(11,609) Adjusted tangible non-interest expense$1,255,983$1,219,954 Net interest income1,873,2171,749,577 Tax equivalent adjustment6,6075,485 Total non-interest revenue536,392239,604 Total TE revenue$2,416,216$1,994,666 Valuation adjustment on GLOBALT earnout(719)(719) Investment securities losses (gains), net(704)256,660 Fair value adjustment on non-qualified deferred compensation(6,214)(5,159) Adjusted total revenue (TE)$2,408,579$2,245,448 Efficiency ratio-(TE)54.72%62.54% Adjusted tangible efficiency ratio52.15%54.33% Amounts may not total due to rounding. Non-GAAP Financial Measures, Continued 79 ($ in thousands)4Q253Q252Q251Q254Q24 Total assets$61,358,837$60,485,175$61,056,785$60,339,121$60,233,644 Goodwill(480,440)(480,440)(480,440)(480,440)(480,440) Other intangible assets, net(23,809)(26,436)(29,063)(31,691)(34,318) Tangible assets$60,854,588$59,978,299$60,547,282$59,826,990$59,718,886 Total Synovus Financial Corp. shareholders’ equity$5,993,167$5,818,737$5,617,686$5,390,751$5,244,557 Goodwill(480,440)(480,440)(480,440)(480,440)(480,440) Other intangible assets, net(23,809)(26,436)(29,063)(31,691)(34,318) Preferred Stock, no par value(537,145)(537,145)(537,145)(537,145)(537,145) Tangible common equity$4,951,773$4,774,716$4,571,038$4,341,475$4,192,654 Total Synovus Financial Corp. shareholders’ equity to total assets ratio9.77%9.62%9.20%8.93%8.71% Tangible common equity ratio8.14%7.96%7.55%7.26%7.02% Tangible common equity $4,951,773$4,774,716$4,571,038$4,341,475$4,192,654 Common shares outstanding138,894138,813138,782139,214141,166 Book value per common share$39.28$38.05$36.61$34.86$33.35 Tangible book value per common share$35.65$34.40$32.94$31.19$29.70 Amounts may not total due to rounding. Non-GAAP Financial Measures, Continued

FOR IMMEDIATE RELEASE MEDIA:Joe Bass, 615-743-8219 INVESTOR RELATIONS:Jennifer Demba, 404-364-2715 WEBSITE: www.pnfp.com PNFP REPORTS 4Q25 DILUTED EPS OF $2.13 AND ADJUSTED DILUTED EPS OF $2.24 Loans, core deposits, revenues and diluted EPS all up double-digit percentages year-over-year ATLANTA, GA, January 21, 2026 - Pinnacle Financial Partners, Inc. (NYSE: PNFP) reported net income per diluted common share of $2.13 for the quarter ended Dec. 31, 2025 for the business of legacy Pinnacle Financial Partners, Inc., compared to net income per diluted common share of $1.91 for the quarter ended Dec. 31, 2024, an increase of approximately 11.5 percent. Net income per diluted common share was $8.07 for the year ended Dec. 31, 2025, compared to net income per diluted common share of $5.96 for the year ended Dec. 31, 2024, an increase of approximately 35.4 percent. After considering the adjustments noted in the table below, net income per diluted common share was $2.24 for the three months ended Dec. 31, 2025, compared to $1.90 for the three months ended Dec. 31, 2024, an increase of 17.9 percent. Net income per diluted common share, adjusted for the items noted in the table below, was $8.37 for the year ended Dec. 31, 2025, compared to net income per diluted common share of $6.89 for the year ended Dec. 31, 2024, an increase of approximately 21.5 percent. Three months ended Year ended Dec. 31, 2025 Sept. 30, 2025 Dec. 31, 2024 Dec. 31, 2025 Dec. 31, 2024 Diluted earnings per common share$ 2.13 $ 2.19 $ 1.91 $ 8.07 $ 5.96 Adjustments, net of tax (1) : Investment (gains) losses on sales of securities, net 0.04 — (0.01) 0.16 0.70 Recognition of mortgage servicing asset — — — — (0.12) FDIC special assessment (0.07) — — — (0.07) 0.07 Fees related to terminating agreement to resell securities previously purchased and professional fees associated with capital optimization initiatives — — — — 0.28 Merger-related expenses 0.14 0.08 — 0.21 — Diluted earnings per common share after adjustments$ 2.24 $ 2.27 $ 1.90 $ 8.37 $ 6.89 Numbers may not foot due to rounding. (1) : Adjustments include tax effect calculated using a marginal tax rate of 25.00 percent for all periods presented. "One of the most important measures of success for our recent merger with Synovus is our ability to sustain outsized growth momentum," said M. Terry Turner, Pinnacle's chairman and former chief executive officer. "Fourth quarter 2025 results are in and speak for themselves, with double-digit growth in loans, client deposits, revenue and adjusted earnings per share year-over- year. While much work was required to complete the merger so quickly, fourth quarter’s financial results actually represent accelerated growth rates when compared to quarterly growth rates in the first and second quarters of 2025, immediately prior to the deal announcement." 1 PINNACLE AND SYNOVUS MERGER The merger of Pinnacle Financial Partners, Inc. (which we may refer to as "legacy Pinnacle" and Synovus Financial Corp. (which we may refer to as "Synovus" or "legacy Synovus") closed on January 1, 2026. The combination creates one of the leading regional banks in the industry, positioned for accelerated growth by marrying the cultures of both banks with Pinnacle’s proven recruiting model and incentive structures and Synovus’ deep talent and capabilities. Integration teams have been working closely together to build the blueprint for Pinnacle’s future. While bankers continue to serve clients and recruit top talent with little to no disruption, others will work behind the scenes to execute as seamless an integration effort as possible. Systems and brand conversions are expected in March 2027. Throughout, the primary goal will be to enhance our client experience. "Pinnacle and Synovus both delivered strong results in 2025, demonstrating our commitment to growth amid the pending merger," said Pinnacle President and CEO Kevin Blair. "Legacy Pinnacle grew diluted EPS by 35% and adjusted diluted EPS by 22%, while legacy Synovus achieved increases of 76% and 28%, respectively. These outcomes reflect our team’s engagement, client focus and dedication to delivering value for shareholders. This momentum positions us for continued success in 2026 and strengthens our capacity to unify both organizations, building on similar legacies and shared values. Both firms prioritize client service, with legacy Pinnacle earning the No. 1 Net Promoter Score in our footprint and legacy Synovus earning No. 3. Pinnacle’s proven operating model remains the foundation of our growth, while Synovus brings extensive expertise, broad reach and operational excellence. Together, we’ll build a bank that combines scale with a clear purpose." PINNACLE'S BALANCE SHEET GROWTH AND LIQUIDITY: Total assets at Dec. 31, 2025, were $57.7 billion, an increase of approximately $1.7 billion from Sept. 30, 2025, and $5.1 billion from Dec. 31, 2024, reflecting a linked-quarter annualized increase of 12.5 percent and a year-over-year increase of 9.7 percent. A further analysis of select balance sheet trends follows: Loans$ 39,154,002 37,932,613 12.9% 35,485,776 10.3% Securities 9,157,207 9,056,608 4.4% 8,381,268 9.3% Other interest-earning assets 3,400,579 3,228,993 21.3% 3,377,381 0.7% Total interest-earning assets$ 51,711,788 $ 50,218,214 11.9%$ 47,244,425 9.5% Core deposits: Noninterest-bearing deposits$ 9,046,666 $ 8,952,978 4.2%$ 8,170,448 10.7% Interest-bearing core deposits (1) 32,880,864 31,860,709 12.8% 29,876,456 10.1% Noncore deposits and other funding (2) 7,990,472 7,442,496 29.5% 7,326,287 9.1% Total funding $ 49,918,002 $ 48,256,183 13.8%$ 45,373,191 10.0% Balances at Linked- Quarter Annualized % Change Balances at Year-over- Year % Change(dollars in thousands) Dec. 31, 2025 Sept. 30, 2025 Dec. 31, 2024 (1) : Interest-bearing core deposits are interest-bearing deposits, money market accounts and time deposits less than $250,000 including reciprocating time and money market deposits. (2) : Noncore deposits and other funding consists of time deposits greater than $250,000, securities sold under agreements to repurchase, public funds, brokered deposits, FHLB advances and subordinated debt. "We are very pleased with loan growth for the fourth quarter and the momentum we have as a combined firm," said Turner. "Our fourth quarter loan growth of $1.2 billion came in stronger than we anticipated which contributed to the additional provision expense for the quarter. For 2026, we have a lot of opportunities to sustain our strong loan growth. Our growing interest in 2 commercial real estate projects and, as a combined firm, our push to expand our lending verticals across our expanded footprint will both serve to support our loan growth goals.. "Year-end 2025 results for deposits also exceeded our expectations with year-over-year core deposits up by 10.2 percent, which was more than the growth range we previously anticipated. Importantly, highly-valued noninterest bearing deposits increased by 10.7 percent in 2025. Again, this has much to do with the success of our treasury management and specialty deposit professionals finishing the year with great momentum which we fully expect to carry well into 2026." PINNACLE'S PRE-TAX, PRE-PROVISION NET REVENUE (PPNR) GROWTH AND PROFITABILITY: Pre-tax, pre-provision net revenues (PPNR) for the quarter and year ended Dec. 31, 2025 were $239.5 million and $887.1 million, respectively, compared to $213.4 million and $701.8 million, respectively, recognized in the quarter and year ended Dec. 31, 2024. As noted in the table below, adjusted PPNR for the quarter and year ended Dec. 31, 2025, were $250.4 million and $918.6 million, respectively, compared to $213.2 million and $797.7 million, respectively, recognized in the quarter and year ended Dec. 31, 2024, an increase of 17.4 percent and 15.2 percent. Revenues: Net interest income$ 407,435 $ 363,790 12.0 %$ 1,548,261 $ 1,365,590 13.4 % Noninterest income 134,769 111,545 20.8 % 506,590 371,178 36.5 % Total revenues 542,204 475,335 14.1 % 2,054,851 1,736,768 18.3 % Noninterest expense 302,656 261,897 15.6 % 1,167,728 1,034,970 12.8 % Pre-tax, pre-provision net revenue 239,548 213,438 12.2 % 887,123 701,798 26.4 % Adjustments: Investment (gains) losses on sales of securities, net 4,099 (249) >100.0% 16,611 71,854 (76.9) % Recognition of mortgage servicing asset — — NA — (11,812) (100.0) % ORE expense 346 58 >100.0% 687 220 >100.0% FDIC special assessment (7,500) — (100.0) % (7,500) 7,250 >(100.0%) Fees related to terminating agreement to resell securities previously purchased and professional fees associated with capital optimization initiatives — — NA — 28,400 (100.0) % Merger-related expenses 13,939 — 100.0 % 21,666 — 100.0 % Adjusted pre-tax, pre-provision net revenue$ 250,432 $ 213,247 17.4 %$ 918,587 $ 797,710 15.2 % Three months ended Year ended December 31,December 31, (dollars in thousands)20252024 % change20252024% change Three months endedYear ended Dec. 31, 2025Sept. 30, 2025Dec. 31, 2024Dec. 31, 2025Dec. 31, 2024 Net interest margin 3.27 % 3.26 % 3.22 % 3.24 % 3.16 % Efficiency ratio 55.82 % 55.64 % 55.10 % 56.83 % 59.59 % Return on average assets (1) 1.16 % 1.22 % 1.15 % 1.15 % 0.93 % Return on average tangible common equity (TCE) (1) 13.50 % 14.49 % 13.58 % 13.58 % 11.12 % Average loan to deposit ratio 82.85 % 82.88 % 83.92 % 83.26 % 84.64 % Net interest income for the fourth quarter of 2025 was $407.4 million, compared to $363.8 million for the fourth quarter of 2024, a year-over-year growth rate of 12.0 percent. Net interest margin was 3.27 percent for the fourth quarter of 2025, compared to 3.22 percent for the fourth quarter of 2024. 3 Total revenues for the fourth quarter of 2025 were $542.2 million, compared to $475.3 million for the fourth quarter of 2024, a year-over-year increase of 14.1 percent. Three months ended Linked-quarter Annualized % Change Three months ended Yr-over-Yr % Change(dollars in thousands)Dec. 31, 2025Sept. 30, 2025Dec. 31, 2024 Net interest income$ 407,435 $ 396,865 10.7 %$ 363,790 12.0 % Noninterest income 134,769 147,938 (35.6) % 111,545 20.8 % Total revenues$ 542,204 $ 544,803 (1.9) %$ 475,335 14.1 % •Wealth management revenues, which include investment, trust and insurance services, were $36.9 million for the fourth quarter of 2025, compared to $31.2 million for the fourth quarter of 2024, a year-over-year increase of 18.1 percent. The increase in wealth management revenues is primarily attributable to an increase in capacity. Pinnacle continues to hire more wealth-management revenue producers across the firm, particularly in the areas of the firm's most recent market expansions, further showcasing the power of its differentiated model in markets where we have not previously operated. •Income from the firm's investment in Banker's Healthcare Group ("BHG") was $31.3 million for the fourth quarter of 2025, compared to $12.1 million for the fourth quarter of 2024, a sharp year-over-year increase. ◦BHG's loan originations were $1.7 billion in the fourth quarter of 2025, compared to $1.7 billion in the third quarter of 2025 and $1.2 billion in the fourth quarter of 2024. ◦Loans sold to BHG's community bank partners were approximately $529 million in the fourth quarter of 2025, compared to $561 million in the third quarter of 2025 and $505 million in the fourth quarter of 2024. ◦BHG reserves for on-balance sheet loan losses were $376 million, or 11.4 percent of loans held for investment at Dec. 31, 2025, compared to 11.2 percent at Sept. 30, 2025, and 9.3 percent at Dec. 31, 2024. ◦At Dec. 31, 2025, BHG increased its accrual for estimated losses attributable to loan substitutions and prepayments to $709 million, or 8.6 percent of the unpaid balances on loans that were previously purchased by BHG's community bank network, compared to 7.9 percent at Sept. 30, 2025 and 7.1 percent at Dec. 31, 2024. •Noninterest income categories, other than those specifically noted above, contributed $66.6 million for the quarter ended Dec. 31, 2025, a decrease of $1.7 million from the fourth quarter of 2024. Noninterest expense for the fourth quarter of 2025 was $302.7 million, compared to $261.9 million for the fourth quarter of 2024. As noted in the table below, adjusted noninterest expense for the fourth quarter of 2025 was $295.9 million, compared to $261.8 million in the prior year. Three months ended Linked-quarter Annualized % Change Three months ended Yr-over-yr % Change (dollars in thousands) Dec. 31, 2025Sept. 30, 2025Dec. 31, 2024 Noninterest expense $ 302,656 $ 303,139 (0.6) %$ 261,897 15.6 % Less: ORE expense 346 146 >100.0% 58 >100.0% FDIC special assessment (7,500) — (100.0) % — (100.0) % Merger-related expenses 13,939 7,727 >100.0% — 100.0 % Adjusted noninterest expense$ 295,871 $ 295,266 0.8 %$ 261,839 13.0 % •Salaries and employee benefits were $181.1 million in the fourth quarter of 2025, compared to $164.7 million in the fourth quarter of 2024, reflecting a year-over-year increase of 10.0 percent. 4 ◦Cash incentive costs in the fourth quarter of 2025 totaling $26.2 million were approximately $8.3 million lower than the third quarter of 2025. The fourth quarter 2025 accrual assumed a 125 percent of target payout for 2025, reflecting excellent performance for the year. •Equipment and occupancy costs were $52.2 million in the fourth quarter of 2025, compared to $42.8 million in the fourth quarter of 2024, resulting in a year-over-year increase of 22.0 percent. This increase was primarily attributable to the opening of new full-service locations during 2025 and the relocation of the corporate headquarters to a new office during the first quarter of 2025. •Merger-related expenses for the year ended Dec. 31, 2025 were $21.7 million and represent costs associated with our merger with Synovus, which closed on January 1, 2026. "Revenue growth in the fourth quarter was exceptional and provides further evidence that we are active in our markets, while our leadership was also diligently working to advance a successful merger with Synovus," Turner said. "Net interest income for 2025 was up a solid 13.4 percent over the prior year, well within the range we discussed at the end of last quarter. As anticipated, our net interest margin expanded in the fourth quarter to 3.27 percent, up from the 3.26 percent last quarter. Noninterest income in 2025 was up a phenomenal 36.5 percent over last year. Noninterest income, excluding the impact of investment securities net losses and the recognition of a mortgage servicing asset in 2024, was up 21.3 percent from last year, again, well within the range we discussed last quarter as significant contributions from wealth, treasury management, BHG and our other fee businesses contributed greatly to our 2025 success. "As to noninterest expense, excluding the reversal of the FDIC special assessment, merger-related costs and ORE expenses, our 2025 noninterest expense ended the year at $1.153 billion, which was within the range we discussed last quarter. Also, as expected, the final results for our 2025 associate cash incentives ended the year at 125 percent of target which warranted a maximum award to our team members." PINNACLE'S CAPITAL AND SOUNDNESS: As of Dec. 31, 2025Sept. 30, 2025Dec. 31, 2024 Shareholders' equity to total assets 12.2 % 12.3 % 12.2 % Tangible common equity to tangible assets 8.9 % 8.8 % 8.6 % Book value per common share$ 87.90 $ 85.60 $ 80.46 Tangible book value per common share$ 63.71 $ 61.53 $ 56.24 Annualized net loan charge-offs to avg. loans (1) 0.28 % 0.18 % 0.24 % Nonperforming assets to total loans, ORE and other nonperforming assets (NPAs) 0.36 % 0.41 % 0.42 % Classified asset ratio (Pinnacle Bank) (2) 3.52 % 4.16 % 3.79 % Construction and land development loans as a percentage of total capital (3) 57.70 % 59.60 % 70.50 % Construction and land development, non-owner occupied commercial real estate and multi-family loans as a percentage of total capital (3) 221.10 % 218.10 % 242.20 % Allowance for credit losses (ACL) to total loans 1.13 % 1.15 % 1.17 % (1) : Annualized net loan charge-offs to average loans ratios are computed by annualizing quarterly net loan charge-offs and dividing the result by average loans for the quarter. (2) : Classified assets as a percentage of Tier 1 capital plus allowance for credit losses. (3): Calculated using the same guidelines as are used in the Federal Financial Institutions Examination Council's Uniform Bank Performance Report. "Fourth quarter soundness metrics all remain strong," Turner said. "During the quarter, we determined the need to charge off a nonperforming commercial real estate loan for approximately $16.9 million, of which approximately $10.0 million had been carried in our allowance for loan losses since the first quarter of 2024. This resulted in increased charge-offs in relation to average 5 loans, as well as increased provision expense. However, we are also reporting decreases in nonperforming loans, as well as a slight reduction in our allowance for loan losses in relation to total loans. "Our tangible equity ratio increased to 8.9 percent at Dec. 31, 2025 while our common equity tier one risk-based capital ratio stood at 10.9 percent, up slightly over the course of 2025. Another metric that we remain very proud of is our tangible book value per share which stood at $63.71 per share at Dec. 31, 2025, an increase of 13.3 percent over last year’s result." WEBCAST AND CONFERENCE CALL INFORMATION Pinnacle will host a webcast and conference call at 8:30 a.m. ET on January 22, 2026, to discuss legacy Pinnacle's and legacy Synovus' fourth quarter 2025 results and other matters. To access the call for audio only, please call 1-888-506-0062. For the presentation and streaming audio, please access the webcast on the investor relations page of Pinnacle's website at investors.pnfp.com. Pinnacle Financial Partners, Inc. (“Pinnacle”) is a regional bank which provides a full range of banking, investment, trust, mortgage and insurance products and services for commercial and consumer clients who want a comprehensive relationship with their financial institution. The firm joined forces with Synovus in 2026, bringing together more than 160 years of combined banking service. Pinnacle is the largest bank headquartered in Tennessee and the largest bank holding company headquartered in Georgia. The firm is No. 1 in deposit market share in the Nashville MSA and No. 4 in the Atlanta MSA with offices in Tennessee, Georgia, Florida, North Carolina, South Carolina, Alabama, Kentucky, Virginia and Maryland (based on June 30, 2025 FDIC market share data). Pinnacle is an employer of choice for financial services professionals. The firm is No. 9 in FORTUNE magazine’s 2025 list of 100 Best Companies to Work For® in the U.S., its ninth consecutive appearance. Pinnacle was also recognized by American Banker as No. 4 among America’s Best Banks to Work For in 2025, its 13th consecutive year on the list, and No. 1 among banks with more than $10 billion in assets. FORWARD LOOKING STATEMENTS This press release and certain of our other filings with the Securities and Exchange Commission contain statements that constitute “forward-looking statements” within the meaning of, and subject to the protections of, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact are forward-looking statements. You can identify these forward-looking statements through Pinnacle's use of words such as “believes,” “anticipates,” “expects,” “may,” “will,” “assumes,” “should,” “predicts,” “could,” “would,” “intends,” “targets,” “estimates,” “projects,” “plans,” “potential” and other similar words and expressions of the future or otherwise regarding the outlook for Pinnacle's future business and financial performance and/or the performance of the banking industry and economy in general. These forward-looking statements include, among others, our expectations regarding the anticipated benefits and risks related to the recently-completed business combination with Synovus Financial Corp., our future operating and financial performance; expectations on our intended strategies, initiatives, and other operational and execution goals; expectations on credit quality and performance; and the assumptions underlying our expectations. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve known and unknown risks and uncertainties which may cause the actual results, performance or achievements of Pinnacle to be materially different from the future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are based on the information known to, and current beliefs and expectations of, Pinnacle's management and are subject to significant risks and uncertainties. Actual results may differ materially from those contemplated by such forward-looking statements. A number of factors could cause actual results to differ materially from those contemplated by the forward-looking statements in this press release. Many of these factors are beyond Pinnacle's ability to control or predict. These forward-looking statements are based upon information presently known to management and are inherently subjective, uncertain and subject to change due to any number of risks and uncertainties, including, without limitation, the risks and other factors set forth in Pinnacle's filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 31, 2024, under the captions “Cautionary Notice Regarding Forward-Looking Statements” and 6 “Risk Factors” and in Pinnacle's quarterly reports on Form 10-Q, current reports on Form 8-K and other filings and reports filed with the Securities and Exchange Commission. We believe these forward-looking statements are reasonable; however, undue reliance should not be placed on any forward-looking statements, which are based on current expectations and speak only as of the date that they are made. We do not assume any obligation to update any forward-looking statements as a result of new information, future developments or otherwise, except as otherwise may be required by law. NON-GAAP FINANCIAL MEASURES This release contains certain non-GAAP financial measures, including, without limitation, total revenues, net income to common shareholders, earnings per diluted common share, revenue per diluted common share, PPNR, efficiency ratio, noninterest expense, noninterest income and the ratio of noninterest expense to average assets, excluding in certain instances the impact of expenses related to other real estate owned, gains or losses on sale of investment securities, charges related to the FDIC special assessment, income associated with the recognition of a mortgage servicing asset in the first quarter of 2024, fees related to terminating an agreement to resell securities previously purchased and professional fees associated with capital optimization initiatives in the second quarter of 2024, merger-related expenses incurred in connection with our combination with Synovus and other matters for the accounting periods presented. This release may also contain certain other non-GAAP capital ratios and performance measures that exclude the impact of goodwill and core deposit intangibles associated with Pinnacle's acquisitions of BNC, Avenue Bank, Magna Bank, CapitalMark Bank & Trust, Mid-America Bancshares, Inc., Cavalry Bancorp, Inc. and other acquisitions which collectively are less material to the non-GAAP measure as well as the impact of Pinnacle's Series B Preferred Stock. The presentation of the non-GAAP financial information is not intended to be considered in isolation or as a substitute for any measure prepared in accordance with GAAP. Because non-GAAP financial measures presented in this release are not measurements determined in accordance with GAAP and are susceptible to varying calculations, these non-GAAP financial measures, as presented, may not be comparable to other similarly titled measures presented by other companies. Pinnacle believes that these non-GAAP financial measures facilitate making period-to-period comparisons and are meaningful indications of its operating performance. In addition, because intangible assets such as goodwill and the core deposit intangible, and the other items excluded each vary extensively from company to company, Pinnacle believes that the presentation of this information allows investors to more easily compare Pinnacle's results to the results of other companies. Pinnacle's management utilizes this non-GAAP financial information to compare Pinnacle's operating performance for 2025 versus certain periods in 2024 and to internally prepared projections. 7 PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS – UNAUDITED (dollars in thousands, except for share and per share data) Dec. 31, 2025Sept. 30, 2025Dec. 31, 2024 ASSETS Cash and noninterest-bearing due from banks$ 358,258 $ 295,133 $ 320,320 Restricted cash 91,174 128,830 93,645 Interest-bearing due from banks 3,115,650 2,841,647 3,021,960 Cash and cash equivalents 3,565,082 3,265,610 3,435,925 Securities purchased with agreement to resell 96,395 83,120 66,449 Securities available-for-sale, at fair value 6,566,683 6,411,806 5,582,369 Securities held-to-maturity (fair value of $2.4 billion, $2.4 billion and $2.6 billion, net of allowance for credit losses of $1.7 million, $1.7 million, and $1.7 million at Dec. 31, 2025, Sept. 30, 2025 and Dec. 31, 2024, respectively) 2,590,524 2,644,802 2,798,899 Consumer loans held-for-sale 91,713 163,129 175,627 Commercial loans held-for-sale 5,647 12,267 19,700 Loans 39,154,002 37,932,613 35,485,776 Less allowance for credit losses (441,540) (434,450) (414,494) Loans, net 38,712,462 37,498,163 35,071,282 Premises and equipment, net 339,990 337,552 311,277 Equity method investment 391,946 389,109 436,707 Accrued interest receivable 219,761 218,647 214,080 Goodwill 1,848,904 1,848,904 1,849,260 Core deposits and other intangible assets 29,715 18,108 21,423 Other real estate owned 8,053 5,129 1,278 Other assets 3,239,178 3,067,203 2,605,173 Total assets$ 57,706,053 $ 55,963,549 $ 52,589,449 LIABILITIES AND SHAREHOLDERS' EQUITY Deposits: Noninterest-bearing$ 9,046,666 $ 8,952,978 $ 8,170,448 Interest-bearing 15,649,061 15,031,854 14,125,194 Savings and money market accounts 17,627,689 17,097,698 16,197,397 Time 5,073,106 4,644,594 4,349,953 Total deposits 47,396,522 45,727,124 42,842,992 Securities sold under agreements to repurchase 316,447 325,573 230,244 Federal Home Loan Bank advances 1,778,329 1,777,003 1,874,134 Subordinated debt and other borrowings 426,704 426,483 425,821 Accrued interest payable 48,250 48,484 55,619 Other liabilities 696,086 802,690 728,758 Total liabilities 50,662,338 49,107,357 46,157,568 Preferred stock, no par value, 10.0 million shares authorized; 225,000 shares non-cumulative perpetual preferred stock, Series B, liquidation preference $225.0 million, issued and outstanding at Dec. 31, 2025, Sept. 30, 2025 and Dec. 31, 2024, respectively 217,126 217,126 217,126 Common stock, par value $1.00; 180.0 million shares authorized; 77.7 million, 77.6 million and 77.2 million shares issued and outstanding at Dec. 31, 2025, Sept. 30, 2025 and Dec. 31, 2024, respectively 77,662 77,558 77,242 Additional paid-in capital 3,144,104 3,141,416 3,129,680 Retained earnings 3,727,788 3,579,862 3,175,777 Accumulated other comprehensive loss, net of taxes (122,965) (159,770) (167,944) Total shareholders' equity 7,043,715 6,856,192 6,431,881 Total liabilities and shareholders' equity$ 57,706,053 $ 55,963,549 $ 52,589,449 This information is preliminary and based on company data available at the time of the presentation. 8 Interest income: Loans, including fees$ 583,740 $ 588,131 $ 557,716 $ 2,288,096 $ 2,221,063 Securities Taxable 64,953 67,158 58,842 260,953 220,666 Tax-exempt 27,483 27,646 24,947 107,463 97,779 Federal funds sold and other 35,279 38,312 42,855 139,120 158,590 Total interest income 711,455 721,247 684,360 2,795,632 2,698,098 Interest expense: Deposits 275,008 294,164 287,511 1,127,179 1,203,455 Securities sold under agreements to repurchase 1,501 1,423 1,182 5,172 5,392 FHLB advances and other borrowings 27,511 28,795 31,877 115,020 123,661 Total interest expense 304,020 324,382 320,570 1,247,371 1,332,508 Net interest income 407,435 396,865 363,790 1,548,261 1,365,590 Provision for credit losses 34,101 31,939 29,652 107,245 120,589 Net interest income after provision for credit losses 373,334 364,926 334,138 1,441,016 1,245,001 Noninterest income: Service charges on deposit accounts 18,720 18,290 15,175 71,130 59,394 Investment services 22,340 23,910 19,233 84,391 67,572 Insurance sales commissions 3,142 4,016 2,900 15,525 13,753 Gains on mortgage loans sold, net 1,347 1,828 2,344 7,647 11,136 Investment gains (losses) on sales of securities, net (4,099) — 249 (16,611) (71,854) Trust fees 11,415 10,316 9,098 40,351 33,219 Income from equity method investment 31,297 40,614 12,070 118,343 63,172 Gain on sale of fixed assets 142 — 38 554 2,258 Other noninterest income 50,465 48,964 50,438 185,260 192,528 Total noninterest income 134,769 147,938 111,545 506,590 371,178 Noninterest expense: Salaries and employee benefits 181,095 187,001 164,670 721,431 621,031 Equipment and occupancy 52,167 48,910 42,756 195,300 166,002 Other real estate, net 346 146 58 687 220 Marketing and other business development 12,011 7,902 8,168 37,351 26,668 Postage and supplies 3,269 3,401 3,178 13,232 12,049 Amortization of intangibles 1,393 1,398 1,544 5,608 6,254 Merger-related expenses 13,939 7,727 — 21,666 — Other noninterest expense 38,436 46,654 41,523 172,453 202,746 Total noninterest expense 302,656 303,139 261,897 1,167,728 1,034,970 Income before income taxes 205,447 209,725 183,786 779,878 581,209 Income tax expense 35,666 36,589 32,527 138,013 106,153 Net income 169,781 173,136 151,259 641,865 475,056 Preferred stock dividends (3,798) (3,798) (3,798) (15,192) (15,192) Net income available to common shareholders $ 165,983 $ 169,338 $ 147,461 $ 626,673 $ 459,864 PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF INCOME – UNAUDITED (dollars in thousands, except for share and per share data) Three months endedYear ended Dec. 31, 2025Sept. 30, 2025Dec. 31, 2024Dec. 31, 2025Dec. 31, 2024 9 Per share information: Basic net income per common share $ 2.16 $ 2.20 $ 1.93 $ 8.15 $ 6.01 Diluted net income per common share $ 2.13 $ 2.19 $ 1.91 $ 8.07 $ 5.96 Weighted average common shares outstanding: Basic 76,929,255 76,904,045 76,537,040 76,863,389 76,460,926 Diluted 77,746,329 77,310,293 77,384,742 77,688,626 77,131,330 PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF INCOME – UNAUDITED (dollars in thousands, except for share and per share data) Three months endedYear ended Dec. 31, 2025Sept. 30, 2025Dec. 31, 2024Dec. 31, 2025Dec. 31, 2024 This information is preliminary and based on company data available at the time of the presentation. 10 PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Unaudited) (dollars and shares in thousands) Preferred Stock Amount Common Stock Additional Paid- in Capital Retained Earnings Accumulated Other Comp. Income (Loss), net Total Shareholders' Equity SharesAmounts Balance at December 31, 2023$ 217,126 76,767 $ 76,767 $ 3,109,493 $ 2,784,927 $ (152,525) $ 6,035,788 Preferred dividends paid ($67.52 per share) — — — — (15,192) — (15,192) Common dividends paid ($0.88 per share) — — — — (69,014) — (69,014) Issuance of restricted common shares — 262 262 (262) — — — Forfeiture of restricted common shares — (30) (30) 30 — — — Restricted shares withheld for taxes & related tax benefits — (68) (68) (5,774) — — (5,842) Issuance of common stock pursuant to restricted stock unit (RSU) and performance stock unit (PSU) agreements, net of shares withheld for taxes & related tax benefits — 311 311 (14,741) — — (14,430) Compensation expense for restricted shares, RSUs and PSUs — — — 40,934 — — 40,934 Net income — — — — 475,056 — 475,056 Other comprehensive loss — — — — — (15,419) (15,419) Balance at December 31, 2024$ 217,126 77,242 $ 77,242 $ 3,129,680 $ 3,175,777 $ (167,944) $ 6,431,881 Balance at December 31, 2024$ 217,126 77,242 $ 77,242 $ 3,129,680 $ 3,175,777 $ (167,944) $ 6,431,881 Preferred dividends paid ($67.52 per share) — — — — (15,192) — (15,192) Common dividends paid ($0.96 per share) — — — — (74,662) — (74,662) Issuance of restricted common shares — 214 214 (214) — — — Forfeiture of restricted common shares — (33) (33) 33 — — — Restricted shares withheld for taxes & related tax benefits — (69) (69) (7,612) — — (7,681) Issuance of common stock pursuant to RSU and PSU agreements, net of shares withheld for taxes & related tax benefits — 308 308 (21,409) — — (21,101) Compensation expense for restricted shares, RSUs and PSUs — — — 43,626 — — 43,626 Net income — — — — 641,865 — 641,865 Other comprehensive gain — — — — — 44,979 44,979 Balance at December 31, 2025$ 217,126 77,662 $ 77,662 $ 3,144,104 $ 3,727,788 $ (122,965) $ 7,043,715 This information is preliminary and based on company data available at the time of the presentation. 11 PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES SELECTED QUARTERLY FINANCIAL DATA – UNAUDITED (dollars in thousands) DecemberSeptemberJuneMarchDecemberSeptember 202520252025202520242024 Balance sheet data, at quarter end: Commercial and industrial loans$ 16,365,200 15,570,921 14,905,306 14,131,312 13,815,817 12,986,865 Commercial real estate - owner occupied loans 5,215,810 4,904,462 4,744,806 4,594,376 4,388,531 4,264,743 Commercial real estate - investment loans 5,803,480 5,803,851 5,891,694 5,977,583 5,931,420 5,919,235 Commercial real estate - multifamily and other loans 2,337,836 2,284,438 2,393,696 2,360,515 2,198,698 2,213,153 Consumer real estate - mortgage loans 5,518,618 5,373,110 5,163,761 4,977,358 4,914,482 4,907,766 Construction and land development loans 3,241,266 3,389,451 3,412,060 3,525,860 3,699,321 3,486,504 Consumer and other loans 671,792 606,380 593,841 569,742 537,507 530,044 Total loans 39,154,002 37,932,613 37,105,164 36,136,746 35,485,776 34,308,310 Allowance for credit losses (441,540) (434,450) (422,125) (417,462) (414,494) (391,534) Securities 9,157,207 9,056,608 9,066,651 8,718,794 8,381,268 8,293,241 Total assets 57,706,053 55,963,549 54,801,451 54,254,804 52,589,449 50,701,888 Noninterest-bearing deposits 9,046,666 8,952,978 8,640,759 8,507,351 8,170,448 8,229,394 Total deposits 47,396,522 45,727,124 44,999,244 44,479,463 42,842,992 40,954,888 Securities sold under agreements to repurchase 316,447 325,573 258,454 263,993 230,244 209,956 FHLB advances 1,778,329 1,777,003 1,775,470 1,886,011 1,874,134 2,146,395 Subordinated debt and other borrowings 426,704 426,483 426,263 426,042 425,821 425,600 Total shareholders' equity 7,043,715 6,856,192 6,637,237 6,543,142 6,431,881 6,344,258 Balance sheet data, quarterly averages: Total loans$ 38,656,655 37,693,158 36,967,754 36,041,530 34,980,900 34,081,759 Securities 9,215,021 9,025,752 8,986,542 8,679,934 8,268,583 8,176,250 Federal funds sold and other 3,606,379 3,360,273 2,854,113 2,958,593 3,153,751 2,601,267 Total earning assets 51,478,055 50,079,183 48,808,409 47,680,057 46,403,234 44,859,276 Total assets 56,705,549 55,213,879 53,824,500 52,525,831 51,166,643 49,535,543 Noninterest-bearing deposits 9,246,937 8,873,147 8,486,681 8,206,751 8,380,760 8,077,655 Total deposits 46,657,794 45,479,133 44,233,628 43,018,951 41,682,341 40,101,199 Securities sold under agreements to repurchase 326,116 287,465 255,662 230,745 223,162 230,340 FHLB advances 1,777,721 1,774,237 1,838,449 1,877,596 2,006,736 2,128,793 Subordinated debt and other borrowings 433,619 433,472 427,805 427,624 427,503 427,380 Total shareholders' equity 6,966,997 6,721,569 6,601,662 6,515,904 6,405,867 6,265,710 Statement of operations data, for the three months ended: Interest income$ 711,455 721,247 694,770 668,160 684,360 694,865 Interest expense 304,020 324,382 315,237 303,732 320,570 343,361 Net interest income 407,435 396,865 379,533 364,428 363,790 351,504 Provision for credit losses 34,101 31,939 24,245 16,960 29,652 26,281 Net interest income after provision for credit losses 373,334 364,926 355,288 347,468 334,138 325,223 Noninterest income 134,769 147,938 125,457 98,426 111,545 115,242 Noninterest expense 302,656 303,139 286,446 275,487 261,897 259,319 Income before income taxes 205,447 209,725 194,299 170,407 183,786 181,146 Income tax expense 35,666 36,589 35,759 29,999 32,527 34,455 Net income 169,781 173,136 158,540 140,408 151,259 146,691 Preferred stock dividends (3,798) (3,798) (3,798) (3,798) (3,798) (3,798) Net income available to common shareholders$ 165,983 169,338 154,742 136,610 147,461 142,893 Profitability and other ratios: Return on avg. assets (1) 1.16 % 1.22 % 1.15 % 1.05 % 1.15 % 1.15 % Return on avg. equity (1) 9.45 % 10.00 % 9.40 % 8.50 % 9.16 % 9.07 % Return on avg. common equity (1) 9.76 % 10.33 % 9.72 % 8.80 % 9.48 % 9.40 % Return on avg. tangible common equity (1) 13.50 % 14.49 % 13.75 % 12.51 % 13.58 % 13.61 % Common stock dividend payout ratio (14) 11.87 % 12.20 % 12.73 % 15.53 % 14.72 % 16.73 % Net interest margin (2) 3.27 % 3.26 % 3.23 % 3.21 % 3.22 % 3.22 % Noninterest income to total revenue (3) 24.86 % 27.15 % 24.84 % 21.27 % 23.47 % 24.69 % Noninterest income to avg. assets (1) 0.94 % 1.06 % 0.93 % 0.76 % 0.87 % 0.93 % Noninterest exp. to avg. assets (1) 2.12 % 2.18 % 2.13 % 2.13 % 2.04 % 2.08 % Efficiency ratio (4) 55.82 % 55.64 % 56.72 % 59.52 % 55.10 % 55.56 % Avg. loans to avg. deposits 82.85 % 82.88 % 83.57 % 83.78 % 83.92 % 84.99 % Securities to total assets 15.87 % 16.18 % 16.54 % 16.07 % 15.94 % 16.36 % This information is preliminary and based on company data available at the time of the presentation. 12 PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES ANALYSIS OF INTEREST INCOME AND EXPENSE, RATES AND YIELDS-UNAUDITED (dollars in thousands) Three months endedThree months ended December 31, 2025December 31, 2024 Average BalancesInterest Rates/ Yields Average BalancesInterest Rates/ Yields Interest-earning assets Loans (1) (2) $ 38,656,655 $ 583,740 6.11 %$ 34,980,900 $ 557,716 6.42 % Securities Taxable 5,786,264 64,953 4.45 % 4,953,134 58,842 4.73 % Tax-exempt (2) 3,428,757 27,483 3.80 % 3,315,449 24,947 3.58 % Interest-bearing due from banks 3,213,013 29,967 3.70 % 2,819,891 36,135 5.10 % Resell agreements 101,919 2,232 8.69 % 75,583 1,697 8.93 % Federal funds sold — — — % — — — % Other 291,447 3,080 4.19 % 258,277 5,023 7.74 % Total interest-earning assets 51,478,055 $ 711,455 5.62 % 46,403,234 $ 684,360 5.97 % Nonearning assets Intangible assets 1,872,458 1,870,051 Other nonearning assets 3,355,036 2,893,358 Total assets$ 56,705,549 $ 51,166,643 Interest-bearing liabilities Interest-bearing deposits: Interest checking 15,119,001 111,685 2.93 % 13,162,542 113,704 3.44 % Savings and money market 17,462,107 118,415 2.69 % 15,654,866 125,760 3.20 % Time 4,829,749 44,908 3.69 % 4,484,173 48,047 4.26 % Total interest-bearing deposits 37,410,857 275,008 2.92 % 33,301,581 287,511 3.43 % Securities sold under agreements to repurchase 326,116 1,501 1.83 % 223,162 1,182 2.11 % Federal Home Loan Bank advances 1,777,721 19,645 4.38 % 2,006,736 23,159 4.59 % Subordinated debt and other borrowings 433,619 7,866 7.20 % 427,503 8,718 8.11 % Total interest-bearing liabilities 39,948,313 304,020 3.02 % 35,958,982 320,570 3.55 % Noninterest-bearing deposits 9,246,937 — — 8,380,760 — — Total deposits and interest-bearing liabilities 49,195,250 $ 304,020 2.45 % 44,339,742 $ 320,570 2.88 % Other liabilities 543,302 421,034 Shareholders' equity 6,966,997 6,405,867 Total liabilities and shareholders' equity$ 56,705,549 $ 51,166,643 Net interest income $ 407,435 $ 363,790 Net interest spread (3) 2.60 % 2.42 % Net interest margin (4) 3.27 % 3.22 % (1) Average balances of nonperforming loans are included in the above amounts. (2) Yields computed on tax-exempt instruments on a tax equivalent basis and included $17.2 million of taxable equivalent income for the three months ended Dec. 31, 2025 compared to $12.1 million for the three months ended Dec. 31, 2024. The tax-exempt benefit has been reduced by the projected impact of tax-exempt income that will be disallowed pursuant to IRS Regulations as of and for the then current period presented. (3) Yields realized on interest-bearing assets less the rates paid on interest-bearing liabilities. The net interest spread calculation excludes the impact of demand deposits. Had the impact of demand deposits been included, the net interest spread for the three months ended Dec. 31, 2025 would have been 3.16% compared to a net interest spread of 3.09% for the three months ended Dec. 31, 2024. (4) Net interest margin is the result of annualized net interest income calculated on a tax equivalent basis divided by average interest- earning assets for the period. This information is preliminary and based on company data available at the time of the presentation. 13 PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES ANALYSIS OF INTEREST INCOME AND EXPENSE, RATES AND YIELDS-UNAUDITED (dollars in thousands) Year endedYear ended December 31, 2025December 31, 2024 Average BalancesInterest Rates/ Yields Average BalancesInterest Rates/ Yields Interest-earning assets Loans (1) (2) $ 37,347,907 $ 2,288,096 6.23 %$ 33,908,775 $ 2,221,063 6.64 % Securities Taxable 5,631,662 260,953 4.63 % 4,487,037 220,666 4.92 % Tax-exempt (2) 3,346,750 107,463 3.84 % 3,284,099 97,779 3.55 % Interest-bearing due from banks 2,852,913 118,459 4.15 % 2,533,184 132,199 5.22 % Resell agreements 80,272 7,936 9.89 % 285,356 10,669 3.74 % Federal funds sold — — — % — — — % Other 263,872 12,725 4.82 % 254,731 15,722 6.17 % Total interest-earning assets 49,523,376 $ 2,795,632 5.76 % 44,753,182 $ 2,698,098 6.14 % Nonearning assets Intangible assets 1,869,980 1,871,723 Other nonearning assets 3,187,306 2,821,948 Total assets$ 54,580,662 $ 49,446,853 Interest-bearing liabilities Interest-bearing deposits: Interest checking 14,524,949 457,226 3.15 % 12,309,946 465,862 3.78 % Savings and money market 16,959,977 491,058 2.90 % 14,928,631 530,100 3.55 % Time 4,667,457 178,895 3.83 % 4,720,595 207,493 4.40 % Total interest-bearing deposits 36,152,383 1,127,179 3.12 % 31,959,172 1,203,455 3.77 % Securities sold under agreements to repurchase 275,292 5,172 1.88 % 219,451 5,392 2.46 % Federal Home Loan Bank advances 1,816,610 82,855 4.56 % 2,113,947 96,602 4.57 % Subordinated debt and other borrowings 430,654 32,165 7.47 % 427,604 27,059 6.33 % Total interest-bearing liabilities 38,674,939 1,247,371 3.23 % 34,720,174 1,332,508 3.84 % Noninterest-bearing deposits 8,706,694 — — 8,103,652 — — Total deposits and interest-bearing liabilities 47,381,633 $ 1,247,371 2.63 % 42,823,826 $ 1,332,508 3.11 % Other liabilities 496,205 399,183 Shareholders' equity 6,702,824 6,223,844 Total liabilities and shareholders' equity$ 54,580,662 $ 49,446,853 Net interest income $ 1,548,261 $ 1,365,590 Net interest spread (3) 2.54 % 2.30 % Net interest margin (4) 3.24 % 3.16 % (1) Average balances of nonperforming loans are included in the above amounts. (2) Yields computed on tax-exempt instruments on a tax equivalent basis and included $58.7 million of taxable equivalent income for the year ended Dec. 31, 2025 compared to $47.7 million for the year ended Dec. 31, 2024. The tax-exempt benefit has been reduced by the projected impact of tax-exempt income that will be disallowed pursuant to IRS Regulations as of and for the then current period presented. (3) Yields realized on interest-bearing assets less the rates paid on interest-bearing liabilities. The net interest spread calculation excludes the impact of demand deposits. Had the impact of demand deposits been included, the net interest spread for the year ended Dec. 31, 2025 would have been 3.13% compared to a net interest spread of 3.02% for the year ended Dec. 31, 2024. (4) Net interest margin is the result of annualized net interest income calculated on a tax equivalent basis divided by average interest- earning assets for the period. This information is preliminary and based on company data available at the time of the presentation. 14 PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES SELECTED QUARTERLY FINANCIAL DATA – UNAUDITED (dollars in thousands) DecemberSeptemberJuneMarchDecemberSeptember 202520252025202520242024 Asset quality information and ratios: Nonperforming assets: Nonaccrual loans$ 133,361 149,683 157,170 171,570 147,825 119,293 ORE and other nonperforming assets (NPAs) 8,089 5,210 4,835 3,656 1,280 823 Total nonperforming assets$ 141,450 154,893 162,005 175,226 149,105 120,116 Past due loans over 90 days and still accruing interest$ 2,870 2,632 4,652 4,337 3,515 3,611 Accruing purchase credit deteriorated loans$ 8,732 9,564 10,344 12,215 13,877 5,715 Net loan charge-offs$ 27,011 16,788 18,737 13,992 20,807 18,348 Allowance for credit losses to nonaccrual loans 331.1 % 290.2 % 268.6 % 243.3 % 280.4 % 328.2 % As a percentage of total loans: Past due accruing loans over 30 days 0.14 % 0.17 % 0.14 % 0.14 % 0.15 % 0.16 % Potential problem loans 0.11 % 0.20 % 0.12 % 0.15 % 0.13 % 0.14 % Allowance for credit losses 1.13 % 1.15 % 1.14 % 1.16 % 1.17 % 1.14 % Nonperforming assets to total loans, ORE and other NPAs 0.36 % 0.41 % 0.44 % 0.48 % 0.42 % 0.35 % Classified asset ratio (Pinnacle Bank) (6) 3.5 % 4.2 % 3.9 % 4.4 % 3.8 % 3.9 % Annualized net loan charge-offs to avg. loans (5) 0.28 % 0.18 % 0.20 % 0.16 % 0.24 % 0.21 % Interest rates and yields: Loans 6.11 % 6.29 % 6.26 % 6.24 % 6.42 % 6.75 % Securities 4.21 % 4.41 % 4.44 % 4.30 % 4.27 % 4.58 % Total earning assets 5.62 % 5.83 % 5.82 % 5.79 % 5.97 % 6.27 % Total deposits, including non-interest bearing 2.34 % 2.57 % 2.58 % 2.58 % 2.74 % 3.08 % Securities sold under agreements to repurchase 1.83 % 1.96 % 1.92 % 1.80 % 2.11 % 2.58 % FHLB advances 4.38 % 4.61 % 4.65 % 4.59 % 4.59 % 4.66 % Subordinated debt and other borrowings 7.20 % 7.49 % 7.57 % 7.63 % 8.11 % 5.97 % Total deposits and interest-bearing liabilities 2.45 % 2.68 % 2.70 % 2.70 % 2.88 % 3.19 % Capital and other ratios (6) : Pinnacle Financial ratios: Shareholders' equity to total assets 12.2 % 12.3 % 12.1 % 12.1 % 12.2 % 12.5 % Common equity Tier one 10.9 % 10.8 % 10.7 % 10.7 % 10.8 % 10.8 % Tier one risk-based 11.3 % 11.3 % 11.2 % 11.2 % 11.3 % 11.4 % Total risk-based 13.0 % 12.9 % 13.0 % 13.0 % 13.1 % 13.2 % Leverage 9.6 % 9.6 % 9.5 % 9.5 % 9.6 % 9.6 % Tangible common equity to tangible assets 8.9 % 8.8 % 8.6 % 8.5 % 8.6 % 8.7 % Pinnacle Bank ratios: Common equity Tier one 11.1 % 11.5 % 11.5 % 11.5 % 11.6 % 11.7 % Tier one risk-based 11.1 % 11.5 % 11.5 % 11.5 % 11.6 % 11.7 % Total risk-based 12.1 % 12.5 % 12.4 % 12.4 % 12.5 % 12.6 % Leverage 9.4 % 9.8 % 9.7 % 9.7 % 9.8 % 9.8 % Construction and land development loans as a percentage of total capital (17) 57.7 % 59.6 % 61.8 % 65.6 % 70.5 % 68.2 % Non-owner occupied commercial real estate and multi-family as a percentage of total capital (17) 221.1 % 218.1 % 228.6 % 236.4 % 242.2 % 243.3 % This information is preliminary and based on company data available at the time of the presentation. 15 PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES SELECTED QUARTERLY FINANCIAL DATA – UNAUDITED (dollars in thousands, except per share data) DecemberSeptemberJuneMarchDecemberSeptember 202520252025202520242024 Per share data: Earnings per common share – basic$ 2.16 2.20 2.01 1.78 1.93 1.87 Earnings per common share - basic, excluding non-GAAP adjustments$ 2.26 2.28 2.01 1.90 1.92 1.87 Earnings per common share – diluted$ 2.13 2.19 2.00 1.77 1.91 1.86 Earnings per common share - diluted, excluding non-GAAP adjustments$ 2.24 2.27 2.00 1.90 1.90 1.86 Common dividends per share$ 0.24 0.24 0.24 0.24 0.22 0.22 Book value per common share at quarter end (7) $ 87.90 85.60 82.79 81.57 80.46 79.33 Tangible book value per common share at quarter end (7) $ 63.71 61.53 58.70 57.47 56.24 55.12 Revenue per diluted common share$ 6.97 7.05 6.53 6.01 6.14 6.08 Revenue per diluted common share, excluding non-GAAP adjustments$ 7.03 7.05 6.53 6.18 6.14 6.08 Investor information: Closing sales price of common stock on last trading day of quarter$ 95.41 93.79 110.41 106.04 114.39 97.97 High closing sales price of common stock during quarter$ 101.53 119.63 111.51 126.15 129.87 100.56 Low closing sales price of common stock during quarter$ 84.38 86.13 87.19 99.42 92.95 76.97 Closing sales price of depositary shares on last trading day of quarter$ 25.02 25.14 23.91 24.10 24.23 24.39 High closing sales price of depositary shares during quarter$ 25.28 25.48 24.56 25.25 25.02 24.50 Low closing sales price of depositary shares during quarter$ 24.65 24.08 23.76 24.10 24.23 23.25 Other information: Residential mortgage loan sales: Gross loans sold$ 128,057 168,935 192,859 145,645 185,707 209,144 Gross fees (8) $ 2,820 4,424 4,068 3,761 4,360 4,974 Gross fees as a percentage of loans originated 2.20 % 2.62 % 2.11 % 2.58 % 2.35 % 2.38 % Net gain on residential mortgage loans sold$ 1,347 1,828 1,965 2,507 2,344 2,643 Investment gains (losses) on sales of securities, net (13) $ (4,099) — — (12,512) 249 — Brokerage account assets, at quarter end (9) $ 16,028,270 15,653,343 14,665,349 13,324,592 13,086,359 12,791,337 Trust account managed assets, at quarter end$ 8,475,121 8,233,933 7,664,867 7,293,630 7,061,868 6,830,323 Core deposits (10) $ 41,927,530 40,813,687 39,761,037 40,012,999 38,046,904 35,764,640 Core deposits to total funding (10) 84.0 % 84.6 % 83.8 % 85.0 % 83.9 % 81.8 % Risk-weighted assets$ 46,526,782 45,571,307 44,413,507 43,210,918 41,976,450 40,530,585 Number of offices 141 138 137 136 137 136 Total core deposits per office$ 297,358 295,751 290,227 294,213 277,715 262,975 Total assets per full-time equivalent employee$ 15,558 15,301 15,109 15,092 14,750 14,418 Annualized revenues per full-time equivalent employee$ 580.0 591.0 558.5 522.2 530.4 528.0 Annualized expenses per full-time equivalent employee$ 323.7 328.8 316.8 310.8 292.2 293.4 Number of employees (full-time equivalent) 3,709.0 3,657.5 3,627.0 3,595.0 3,565.5 3,516.5 Associate retention rate (11) 93.2 % 93.0 % 93.4 % 94.3 % 94.5 % 94.6 % This information is preliminary and based on company data available at the time of the presentation. 16 PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES RECONCILIATION OF NON-GAAP SELECTED QUARTERLY FINANCIAL DATA – UNAUDITED Three months endedYear ended (dollars in thousands, except per share data) DecemberSeptemberDecemberDecemberDecember 20252025202420252024 Net interest income $ 407,435 396,865 363,790 1,548,261 1,365,590 Noninterest income 134,769 147,938 111,545 506,590 371,178 Total revenues 542,204 544,803 475,335 2,054,851 1,736,768 Less: Investment (gains) losses on sales of securities, net 4,099 — (249) 16,611 71,854 Recognition of mortgage servicing asset — — — — (11,812) Total revenues excluding the impact of adjustments noted above $ 546,303 544,803 475,086 2,071,462 1,796,810 Noninterest expense $ 302,656 303,139 261,897 1,167,728 1,034,970 Less: ORE expense 346 146 58 687 220 FDIC special assessment (7,500) — — (7,500) 7,250 Fees related to terminating agreement to resell securities previously purchased and professional fees associated with capital optimization initiatives — — — — 28,400 Merger-related expenses 13,939 7,727 — 21,666 — Noninterest expense excluding the impact of adjustments noted above $ 295,871 295,266 261,839 1,152,875 999,100 Pre-tax income $ 205,447 209,725 183,786 779,878 581,209 Provision for credit losses 34,101 31,939 29,652 107,245 120,589 Pre-tax pre-provision net revenue 239,548 241,664 213,438 887,123 701,798 Less: Adjustments noted above 10,884 7,873 (191) 31,464 95,912 Adjusted pre-tax pre-provision net revenue (12) $ 250,432 249,537 213,247 918,587 797,710 Noninterest income $ 134,769 147,938 111,545 506,590 371,178 Less: Adjustments noted above 4,099 — (249) 16,611 60,042 Noninterest income excluding the impact of adjustments noted above $ 138,868 147,938 111,296 523,201 431,220 Efficiency ratio (4) 55.82 % 55.64 % 55.10 % 56.83 % 59.59 % Less: Adjustments noted above (1.66) % (1.44) % 0.01 % (1.17) % (3.99) % Efficiency ratio excluding adjustments noted above (4) 54.16 % 54.20 % 55.11 % 55.66 % 55.60 % Total average assets $ 56,705,549 55,213,879 51,166,643 54,580,662 49,446,853 Noninterest income to average assets (1) 0.94 % 1.06 % 0.87 % 0.93 % 0.75 % Less: Adjustments noted above 0.03 % — % — % 0.03 % 0.12 % Noninterest income (excluding adjustments noted above) to average assets (1) 0.97 % 1.06 % 0.87 % 0.96 % 0.87 % Noninterest expense to average assets (1) 2.12 % 2.18 % 2.04 % 2.14 % 2.09 % Less: Adjustments as noted above (0.05) % (0.06) % — % (0.03) % (0.07) % Noninterest expense (excluding adjustments noted above) to average assets (1) 2.07 % 2.12 % 2.04 % 2.11 % 2.02 % This information is preliminary and based on company data available at the time of the presentation. Numbers may not foot due to rounding. 17 PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES RECONCILIATION OF NON-GAAP SELECTED QUARTERLY FINANCIAL DATA – UNAUDITED Three months ended (dollars in thousands, except per share data) DecemberSeptemberJuneMarchDecemberSeptember 202520252025202520242024 Net income available to common shareholders $ 165,983 169,338 154,742 136,610 147,461 142,893 Investment (gains) losses on sales of securities, net 4,099 — — 12,512 (249) — ORE expense 346 146 137 58 58 56 FDIC special assessment (7,500) — — — — — Recognition of mortgage servicing asset — — — — — — Fees related to terminating agreement to resell securities previously purchased and professional fees associated with capital optimization initiatives — — — — — — Merger-related expenses 13,939 7,727 — — — — Tax effect on above noted adjustments (16) (2,721) (1,968) (34) (3,143) 48 (14) Net income available to common shareholders excluding adjustments noted above $ 174,146 175,243 154,844 146,037 147,318 142,935 Basic earnings per common share $ 2.16 2.20 2.01 1.78 1.93 1.87 Less: Investment (gains) losses on sales of securities, net 0.05 — — 0.16 (0.01) — ORE expense — — — — — — FDIC special assessment (0.10) — — — — — Recognition of mortgage servicing asset — — — — — — Fees related to terminating agreement to resell securities previously purchased and professional fees associated with capital optimization initiatives — — — — — — Merger-related expenses 0.18 0.10 — — — — Tax effect on above noted adjustments (16) (0.03) (0.02) — (0.04) — — Basic earnings per common share excluding adjustments noted above $ 2.26 2.28 2.01 1.90 1.92 1.87 Diluted earnings per common share $ 2.13 2.19 2.00 1.77 1.91 1.86 Less: Investment (gains) losses on sales of securities, net 0.05 — — 0.16 (0.01) — ORE expense — — — — — — FDIC special assessment (0.10) — — — — — Recognition of mortgage servicing asset — — — — — — Fees related to terminating agreement to resell securities previously purchased and professional fees associated with capital optimization initiatives — — — — — — Merger-related expenses 0.18 0.10 — — — — Tax effect on above noted adjustments (16) (0.02) (0.02) — (0.04) — — Diluted earnings per common share excluding the adjustments noted above $ 2.24 2.27 2.00 1.90 1.90 1.86 Revenue per diluted common share $ 6.97 7.05 6.53 6.01 6.14 6.08 Adjustments due to revenue-impacting items as noted above 0.05 — — 0.16 — — Revenue per diluted common share excluding adjustments due to revenue- impacting items as noted above $ 7.03 7.05 6.53 6.18 6.14 6.08 Book value per common share at quarter end (7) $ 87.90 85.60 82.79 81.57 80.46 79.33 Adjustment due to goodwill, core deposit and other intangible assets (24.19) (24.07) (24.09) (24.10) (24.22) (24.21) Tangible book value per common share at quarter end (7) $ 63.71 61.53 58.70 57.47 56.24 55.12 Equity method investment (15) Fee income from BHG, net of amortization $ 31,297 40,614 26,027 20,405 12,070 16,379 Funding cost to support investment 4,056 5,079 5,205 5,515 4,869 5,762 Pre-tax impact of BHG 27,241 35,535 20,822 14,890 7,201 10,617 Income tax expense at statutory rates (16) 6,810 8,884 5,206 3,723 1,800 2,654 Earnings attributable to BHG $ 20,431 26,651 15,617 11,168 5,401 7,963 Basic earnings per common share attributable to BHG $ 0.27 0.35 0.20 0.15 0.07 0.10 Diluted earnings per common share attributable to BHG $ 0.26 0.34 0.20 0.15 0.07 0.10 This information is preliminary and based on company data available at the time of the presentation. Numbers may not foot due to rounding. 18 PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES RECONCILIATION OF NON-GAAP SELECTED QUARTERLY FINANCIAL DATA – UNAUDITED Year ended (dollars in thousands, except per share data) December 31, 20252024 Net income available to common shareholders $ 626,673 459,864 Investment losses on sales of securities, net 16,611 71,854 ORE expense 687 220 FDIC special assessment (7,500) 7,250 Recognition of mortgage servicing asset — (11,812) Fees related to terminating agreement to resell securities previously purchased and professional fees associated with capital optimization initiatives — 28,400 Merger-related expenses 21,666 — Tax effect on adjustments noted above (16) (7,866) (23,978) Net income available to common shareholders excluding adjustments noted above $ 650,271 531,798 Basic earnings per common share $ 8.15 6.01 Less: Investment losses on sales of securities, net 0.22 0.94 ORE expense 0.01 — FDIC special assessment (0.10) 0.10 Recognition of mortgage servicing asset — (0.15) Fees related to terminating agreement to resell securities previously purchased and professional fees associated with capital optimization initiatives — 0.37 Merger-related expenses 0.28 — Tax effect on above noted adjustments (16) (0.10) (0.31) Basic earnings per common share excluding adjustments noted above $ 8.46 6.96 Diluted earnings per common share 8.07 5.96 Less: Investment losses on sales of securities, net 0.21 0.93 ORE expense 0.01 — FDIC special assessment (0.10) 0.09 Recognition of mortgage servicing asset — (0.15) Fees related to terminating agreement to resell securities previously purchased and professional fees associated with capital optimization initiatives — 0.37 Merger-related expenses 0.28 — Tax effect on above noted adjustments (16) (0.10) (0.31) Diluted earnings per common share excluding the adjustments noted above $ 8.37 6.89 Revenue per diluted common share $ 26.45 22.52 Adjustments due to revenue-impacting items as noted above 0.21 0.78 Revenue per diluted common share excluding adjustments due to revenue-impacting items noted above $ 26.66 23.30 Equity method investment (15) Fee income from BHG, net of amortization $ 118,343 63,172 Funding cost to support investment 16,126 19,777 Pre-tax impact of BHG 102,217 43,395 Income tax expense at statutory rates (16) 25,554 10,849 Earnings attributable to BHG $ 76,663 32,546 Basic earnings per common share attributable to BHG $ 1.00 0.43 Diluted earnings per common share attributable to BHG $ 0.99 0.42 This information is preliminary and based on company data available at the time of the presentation. 19 PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES RECONCILIATION OF NON-GAAP SELECTED QUARTERLY FINANCIAL DATA – UNAUDITED Three months endedYear ended (dollars in thousands, except per share data) DecemberSeptemberDecemberDecemberDecember 20252025202420252024 Return on average assets (1) 1.16 % 1.22 % 1.15 % 1.15 % 0.93 % Adjustments as noted above 0.06 % 0.04 % — % 0.04 % 0.15 % Return on average assets excluding adjustments noted above (1) 1.22 % 1.26 % 1.15 % 1.19 % 1.08 % Tangible assets: Total assets $ 57,706,053 55,963,549 52,589,449 $ 57,706,053 52,589,449 Less: Goodwill (1,848,904) (1,848,904) (1,849,260) (1,848,904) (1,849,260) Core deposit and other intangible assets (29,715) (18,108) (21,423) (29,715) (21,423) Net tangible assets $ 55,827,434 54,096,537 50,718,766 $ 55,827,434 50,718,766 Tangible common equity: Total shareholders' equity $ 7,043,715 6,856,192 6,431,881 $ 7,043,715 6,431,881 Less: Preferred shareholders' equity (217,126) (217,126) (217,126) (217,126) (217,126) Total common shareholders' equity 6,826,589 6,639,066 6,214,755 6,826,589 6,214,755 Less: Goodwill (1,848,904) (1,848,904) (1,849,260) (1,848,904) (1,849,260) Core deposit and other intangible assets (29,715) (18,108) (21,423) (29,715) (21,423) Net tangible common equity $ 4,947,970 4,772,054 4,344,072 $ 4,947,970 4,344,072 Ratio of tangible common equity to tangible assets 8.86 % 8.82 % 8.57 % 8.86 % 8.57 % Average tangible assets: Average assets $ 56,705,549 55,213,879 51,166,643 $ 54,580,662 49,446,853 Less: Average goodwill (1,848,904) (1,848,904) (1,846,998) (1,849,079) (1,846,979) Average core deposit and other intangible assets (23,554) (18,985) (23,054) (20,901) (24,744) Net average tangible assets $ 54,833,091 53,345,990 49,296,591 $ 52,710,682 47,575,130 Return on average assets (1) 1.16 % 1.22 % 1.15 % 1.15 % 0.93 % Adjustment due to goodwill, core deposit and other intangible assets 0.04 % 0.04 % 0.04 % 0.04 % 0.04 % Return on average tangible assets (1) 1.20 % 1.26 % 1.19 % 1.19 % 0.97 % Adjustments as noted above 0.06 % 0.04 % — % 0.04 % 0.15 % Return on average tangible assets excluding adjustments noted above (1) 1.26 % 1.30 % 1.19 % 1.23 % 1.12 % Average tangible common equity: Average shareholders' equity $ 6,966,997 6,721,569 6,405,867 $ 6,702,824 6,223,844 Less: Average preferred equity (217,126) (217,126) (217,126) (217,126) (217,126) Average common equity 6,749,871 6,504,443 6,188,741 6,485,698 6,006,718 Less: Average goodwill (1,848,904) (1,848,904) (1,846,998) (1,849,079) (1,846,979) Average core deposit and other intangible assets (23,554) (18,985) (23,054) (20,901) (24,744) Net average tangible common equity $ 4,877,413 4,636,554 4,318,689 $ 4,615,718 4,134,995 Return on average equity (1) 9.45 % 10.00 % 9.16 % 9.35 % 7.39 % Adjustment due to average preferred shareholders' equity 0.30 % 0.33 % 0.32 % 0.31 % 0.27 % Return on average common equity (1) 9.76 % 10.33 % 9.48 % 9.66 % 7.66 % Adjustment due to goodwill, core deposit and other intangible assets 3.75 % 4.16 % 4.10 % 3.91 % 3.46 % Return on average tangible common equity (1) 13.50 % 14.49 % 13.58 % 13.58 % 11.12 % Adjustments as noted above 0.66 % 0.51 % 0.01 % 0.51 % 1.74 % Return on average tangible common equity excluding adjustments noted above (1) 14.17 % 15.00 % 13.57 % 14.09 % 12.86 % This information is preliminary and based on company data available at the time of the presentation. Numbers may not foot due to rounding. 20 PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES SELECTED QUARTERLY FINANCIAL DATA – UNAUDITED 1. Ratios are presented on an annualized basis. 2. Net interest margin is the result of net interest income on a tax equivalent basis divided by average interest earning assets. 3. Total revenue is equal to the sum of net interest income and noninterest income. 4. Efficiency ratios are calculated by dividing noninterest expense by the sum of net interest income and noninterest income. 5. Annualized net loan charge-offs to average loans ratios are computed by annualizing quarter-to-date net loan charge-offs and dividing the result by average loans for the quarter-to-date period. 6. Capital ratios are calculated using regulatory reporting regulations enacted for such period and are defined as follows: Equity to total assets – End of period total shareholders' equity as a percentage of end of period assets. Tangible common equity to tangible assets - End of period total shareholders' equity less end of period preferred stock, goodwill, core deposit and other intangibles as a percentage of end of period assets less end of period goodwill, core deposit and other intangibles. Leverage – Tier I capital (pursuant to risk-based capital guidelines) as a percentage of adjusted average assets. Tier I risk-based – Tier I capital (pursuant to risk-based capital guidelines) as a percentage of total risk-weighted assets. Total risk-based – Total capital (pursuant to risk-based capital guidelines) as a percentage of total risk-weighted assets. Classified asset - Classified assets as a percentage of Tier 1 capital plus allowance for credit losses. Tier I common equity to risk weighted assets - Tier 1 capital (pursuant to risk-based capital guidelines) less the amount of any preferred stock or subordinated indebtedness that is considered as a component of Tier 1 capital as a percentage of total risk-weighted assets. 7. Book value per common share computed by dividing total common shareholders' equity by common shares outstanding. Tangible book value per common share computed by dividing total common shareholders' equity, less goodwill, core deposit and other intangibles, by common shares outstanding. 8. Amounts are included in the statement of income in "Gains on mortgage loans sold, net", net of commissions paid on such amounts. 9. At fair value, based on information obtained from Pinnacle's third party broker/dealer for non-FDIC insured financial products and services. 10. Core deposits include all transaction deposit accounts, money market and savings accounts and all certificates of deposit issued in a denomination of less than $250,000. The ratio noted above represents total core deposits divided by total funding, which includes total deposits, FHLB advances, securities sold under agreements to repurchase, subordinated indebtedness and all other interest-bearing liabilities. 11. Team member retention rate is computed by dividing the number of team members employed at quarter end less the number of team members that have resigned in the last 12 months by the number of team members employed at quarter end. 12. Adjusted pre-tax, pre-provision net revenue excludes the impact of ORE expenses and income, investment gains and losses on sales of securities, the impact of the FDIC special assessment, the recognition of the mortgage servicing asset, fees related to terminating agreement to resell securities previously purchased and professional fees associated with capital optimization initiatives and merger expenses. 13. Represents investment gains (losses) on sales and impairments, net occurring as a result of gains or losses incurred as the result of a change in management's intention to sell a bond prior to the recovery of its amortized cost basis. 14. The dividend payout ratio is calculated as the sum of the annualized dividend rate for dividends paid on common shares divided by the trailing 12-months fully diluted earnings per common share as of the dividend declaration date. 15. Earnings from equity method investment includes the impact of the funding costs of the overall franchise calculated using the firm's subordinated and other borrowing rates. Income tax expense is calculated using statutory tax rates. 16. Tax effect calculated using the blended statutory rate of 25.00 percent for all periods. 17. Calculated using the same guidelines as are used in the Federal Financial Institutions Examination Council's Uniform Bank Performance Report. 21

Investor Call FOURTH QUARTER 2021 M. TERRY TURNER, PRESIDENT AND CEO HAROLD R. CARPENTER, EVP AND CFO JAN. 19, 2022 Time: 8:30 AM CT Webcast: www.pnfp.com(investor relations) Audio only: 877-602-7944 Safe Harbor Statements Forward Looking Statements All statements, other than statements of historical fact, included in this presentation, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The words "expect," "anticipate," "intend," "may," "should," "plan," "believe," "seek," "estimate" and similar expressions are intended to identify such forward- looking statements, but other statements not based on historical information may also be considered forward-looking statements. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could cause the actual results to differ materially from the statements, including, but not limited to:(i) deterioration in the financial condition of borrowers of Pinnacle Bank and its subsidiaries or BHG resulting in significant increases in loan losses and provisions for those losses and, in the case of BHG, substitutions; (ii) the effectsof new outbreaks of COVID-19, including actions taken by governmental officials to curb the spread of the virus, and the resulting impact on general economic and financial market conditions and on Pinnacle Financial'sand its customers' business, results of operations, asset quality and financial condition; (iii) further public acceptance of the booster shots of the vaccines that were developed against the virus as well as the decisions of governmental agencies with respect to vaccines including recommendations related to booster shots and requirements that seek to mandate that individuals receive or employers require that their employees receive the vaccine; (iv) those vaccines' efficacy against the virus, including new variants; (v) fluctuations or differences in interest rates on loans or deposits from those that Pinnacle Financial is modeling or anticipating, including as a result of Pinnacle Bank's inability to better match deposit rates with the changes in the short-term rate environment, or that affect the yield curve; (vi) the inability of Pinnacle Financial, or entities in which it has significant investments, like BHG, to maintain the long-term historical growth rate of its, or such entities', loan portfolio; (vii) changes in loan underwriting, credit review or loss reserve policies associated with economic conditions, examination conclusions, or regulatory developments;(viii) effectiveness of Pinnacle Financial'sasset management activities in improving, resolving or liquidating lower-quality assets; (ix) the impact of competition with other financial institutions, including pricing pressures and the resulting impact on Pinnacle Financial’sresults, including as a result of compression to net interest margin; (x) adverse conditions in the national or local economies including in Pinnacle Financial'smarkets throughout Tennessee, North Carolina, South Carolina, Georgia, Alabama and Virginia,particularly in commercial and residential real estate markets; (xi) the results of regulatory examinations; (xii) Pinnacle Financial'sability to identify potential candidates for, consummate, and achieve synergies from, potential future acquisitions; (xiii) difficulties and delays in integrating acquired businesses or fully realizing costs savings and other benefits from acquisitions; (xiv) BHG's ability to profitably grow its business and successfully execute on its business plans; (xv) risks of expansion into new geographic or product markets; (xvi) the ability to grow and retain low-cost core deposits and retain large, uninsured deposits, including during times when Pinnacle Bank is seeking to lower rates it pays on deposits; (xvii) any matter that would cause Pinnacle Financial to conclude that there was impairment of any asset, includinggoodwill or other intangible assets; (xviii) the ineffectiveness of Pinnacle Bank's hedging strategies, or the unexpected counterparty failure or hedge failure of the underlying hedges; (xix) reduced ability to attract additional financial advisors (or failure of such advisors to cause their clients to switch to Pinnacle Bank), to retain financial advisors (including as a result of the competitive environment for associates) or otherwise to attract customers from other financial institutions; (xx) deterioration in the valuation of other real estate owned and increased expenses associated therewith; (xxi) inability to comply with regulatory capital requirements, including those resulting from changes to capital calculation methodologies, required capital maintenance levels or regulatory requests or directives, particularly if Pinnacle Bank's level of applicable commercial real estate loans were to exceed percentage levels of total capital in guidelines recommended by its regulators; (xxii) approval of the declaration of any dividend by Pinnacle Financial'sboard of directors; (xxiii) the vulnerability of Pinnacle Bank's network and online banking portals, and the systems of partieswith whom Pinnacle Bank contracts, to unauthorized access, computer viruses, phishing schemes, spam attacks, human error, natural disasters, power loss and other security breaches; (xxiv) the possibility of increased compliance and operational costs as a result of increased regulatory oversight (including by the Consumer Financial Protection Bureau), including oversight of companies in which PinnacleFinancial or Pinnacle Bank have significant investments, like BHG, and the development of additional banking products for Pinnacle Bank's corporate and consumer clients; (xxv) the risks associated with Pinnacle Financial and Pinnacle Bank being a minority investor in BHG, including the risk that the owners of a majority of the equity interests in BHG decide to sell the company or all or a portion of their ownership interests in BHG (triggering a similar sale by Pinnacle Financial and Pinnacle Bank) if not prohibited from doing so by Pinnacle Financial or Pinnacle Bank; (xxvi) the possibility of increased personal or corporate tax rates and the resulting reduction in our and our customers' businesses as a result of any such increases; (xxvii) changes in state and federal legislation, regulations or policies applicable to banks and other financial service providers, like BHG, including regulatory or legislative developments; (xxviii) fluctuations in the valuations of Pinnacle Financial'sequity investments and the ultimate success of such investments; (xxix) the availability of and access to capital; (xxx) adverse results (includingcosts, fines, reputational harm, inability to obtain necessary approvals and/or other negative effects) from current or future litigation, regulatory examinations or other legal and/or regulatory actions, including as a result ofPinnacle Bank's participation in and execution of government programs related to the COVID-19 pandemic; and (xxxi) general competitive, economic, political and market conditions. Additional factors which could affect the forward lookingstatements can be found in Pinnacle Financial'sAnnual Report on Form 10-K for the year ended December 31, 2020, and subsequently filed Quarterly Reports on Form 10-Q and Current Reports on Form 8-K filed with the SEC and available on the SEC's website at http://www.sec.gov. Pinnacle Financial disclaims any obligation to update or revise any forward-looking statements contained in this presentation, which speak only as of the date hereof, whether as a result of new information, future events or otherwise. 2 Safe Harbor Statements Non-GAAP Financial Matters This presentation contains certain non-GAAP financial measures, including, without limitation, earnings per diluted common share, PPNR, the ratio of noninterest income to average assets, efficiency ratio and the ratio of noninterest expense to average assets, excluding in certain instances the impact of expenses related to other real estate owned, gains or losses on sale of investment securities, FHLB restructuring charges, hedge termination charges and other matters for the accounting periods presented. This presentation also includes non-GAAP financial measures which exclude the impact of loans originated under the PPP. This presentation may also contain certain other non-GAAP capital ratios and performance measures thatexclude the impact of goodwill and core deposit intangibles associated with Pinnacle Financial'sacquisitions of BNC, Avenue Bank, Magna Bank, CapitalMarkBank & Trust, Mid-America Bancshares, Inc., Cavalry Bancorp, Inc. and other acquisitions which collectively are less material to the non-GAAP measure as well as the impact of Pinnacle Financial'sSeries B Preferred Stock. The presentation of the non-GAAP financial information is not intended to be considered in isolation or as a substitute for any measure prepared in accordance with GAAP. Because non-GAAP financial measures presented in this presentation are not measurements determined in accordance with GAAP and are susceptible to varying calculations, these non-GAAP financial measures, as presented, may not be comparable toother similarly titled measures presented by other companies. Pinnacle Financial believes that these non-GAAP financial measures facilitate making period-to-period comparisons and are meaningful indications of its operating performance. In addition, because intangible assets such as goodwill and the core deposit intangible, and the other items excluded each vary extensively from company to company, Pinnacle Financial believes that the presentation of this information allows investors to more easily compare Pinnacle Financial'sresults to the results of other companies. Pinnacle Financial'smanagement utilizes this non-GAAP financial information to compare Pinnacle Financial'soperating performance for 2021 versus certain periods in 2020 and to internally prepared projections. 3 4Q21 Financial Dashboard Key success measures including core loan growth, core deposit growth, net interest income growth, fee income growth, pre-provision net revenue growth, asset quality and tangible book value per share accretion were verystrongagainthis quarter. 4 4Q21 Summary Results of Key GAAPMeasures 5 Total Revenues Total Deposits (millions) FD EPS Book Value per Common Share Net Income Available to Common Shareholders Total Loans (millions) NPA/ Loans & ORE NCOs Classified Asset Ratio PNFP’s Median Quarterly Performance of 12.6% PNFP’s Median Quarterly Performance of 0.47% PNFP’s Median Quarterly Performance of 0.14% Classified Asset Ratio NCOs NPA/ Loans & ORE Total Loans (millions) Total Core Deposits (millions) Tangible Book Value per Common Share** Adjusted Pre-Tax Pre-Provision Net Income* FD EPS* CAGR 15.4% Total Revenues* CAGR 23.3% 4Q21 Summary Results of Key Non-GAAPMeasures *: excluding merger-related charges, gains and losses on sales of investment securities, ORE expense (income), loss on sale of non-prime automobile portfolio, branch rationalization charges, FHLB restructuring charges and hedge termination charges. PPNR represents pre-tax, pre-provision net revenues. **: excluding goodwill, core deposit and other intangible assets Note: For a reconciliation of these Non-GAAP financial measures to the comparable GAAP measures, see slides 56-57. CAGR 22.1% CAGR 28.7% CAGR 12.8% CAGR 23.7% 6 PNFP’s Median Quarterly Performance of 12.6% PNFP’s Median Quarterly Performance of 0.14% PNFP’s Median Quarterly Performance of 0.47% 4Q21 Financial Information Excluding the impact of PPP loans, loan growth was substantial in the fourth quarter. Along with continued growth in core deposits, net interest income, and fees, 4Q21 was a strong core growth quarter for the franchise. 7 PNFP Linked-Quarter Annualized Average Loan Growth was 4.2% in 4Q21 Linked-quarter annualized average loan growth ex-PPP was 12.6% 18.7% 13.3% 11.7% 4.2% 11.7% 0.0% 4.0% 8.0% 12.0% 16.0% 20.0% Annual Organic EOP Loan Growth^ ^: Excludes PPP loans Average Loan Growth 8 4Q21 Loan Highlights •EOP linked-quarter annualized loan growth of 12.4% excluding decline in PPP. •Estimate 10% -15% loan growth in 2022 given current economic conditions, recent hires and momentum in our new markets. $8,558 $9,817 $15,017 $15,520 $15,957 $16,730 $17,259 $17,630 $17,938 $18,611 $19,217 $19,600 $20,009 $22,257 $22,493 $22,525 $22,848 $23,180 $22,986 $23,226 4.49% 4.04% 3.20% 3.40% 3.60% 3.80% 4.00% 4.20% 4.40% 4.60% 4.80% 5.00% 5.20% 5.40% $2,000 $4,000 $6,000 $8,000 $10,000 $12,000 $14,000 $16,000 $18,000 $20,000 $22,000 $24,000 Loan Yields Average Loans (millions) $0 $2,000 $4,000 $6,000 $8,000 No floor1-25 bps26-50 bps51-75 bps76-100 bps> 100 bps Loan Balances (millions) LIBOR/SOFR/Prime daily float -$11.75 billion -$7.28 billion w/no floor -$4.48 billion “in the money” floors 34.7% 11.1% 6.8% 33.5% 24.7% 0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 30.0% 35.0% 40.0% Annual Core Deposit Growth^ ^: Excludes Day 1 merger impact. Balance Sheet Growth was Driven by Outsized Core Deposit Inflows Core deposit growth continues to outperform expectations Core Deposit Growth Rates 9 4Q21 Deposit Highlights •Linked-quarter annualized core deposit growth in 4Q21 of 31.6% over 3Q21 •Wholesale deposits declined $145 million in 4Q21 vs. $111 million in 3Q21 •Target average deposit rate of 0.10%-0.15% achieved in 4Q21 •Current focus is on preparing associates to manage deposit rate beta in a rising rate environment Deposit RateTranches Dec. 31, 2020 EOP Rates Sep. 30, 2021 EOP Rates Dec. 31, 2021 EOP Rates Dec. 31, 2021 % of Totals Noninterestbearing---------33.4% Interest-bearing: Rate sheet 0.08%0.05%0.05%16.9% Negotiated 0.30%0.22%0.20%36.7% Indexed 0.28%0.27%0.26%6.1% CDs 1.10%0.56%0.49%6.8% TotalIBD 0.39%0.22%0.20%66.6% Total 0.29%0.15%0.13%100.0% $9,099 $10,394 $15,828 $16,092 $16,281 $16,949 $18,113 $18,368 $18,358 $18,865 $19,778 $20,079 $20,680 $24,807 $26,352 $27,193 $27,621 $28,014 $28,740 $30,034 0.14% 0.00% 0.30% 0.60% 0.90% 1.20% 1.50% 1.80% 2.10% 2.40% 2.70% $2,000 $4,000 $6,000 $8,000 $10,000 $12,000 $14,000 $16,000 $18,000 $20,000 $22,000 $24,000 $26,000 $28,000 $30,000 $32,000 Deposit Costs Average Deposits Average Deposit Growth Avg. DepositsCost of Deposits Excess Liquidity Continues to Impact NIM Rebound in loan demand should serve to reduce elevated liquidity levels in 2022 4Q21 Liquidity Highlights •Strong deposit flows and PPP forgiveness/payoff activity continued to drive higher liquidity levels •Average FFS & IB cash balances increased to 12.5% of earning assets in 4Q21 from 11.1% in 3Q21 •Loan growth should absorb more liquidity in 2022 •No real interest currently in deploying any material amount of excess liquidity. Until then, we will be opportunistic. Likely to look at some shorter-term products with modest yield enhancements *Adjusted NIM excludes the impact of liquidity build and the PPP lending programs. See slides 45-51 for a reconciliation of reported NIM to adjusted NIM. 10 3.35% 3.28% 2.87% 2.82% 2.97% 3.02% 3.08% 3.03% 2.96% 3.19% 3.22% 3.27% 3.29% 3.25% 3.21% 3.20% 2.70% 2.80% 2.90% 3.00% 3.10% 3.20% 3.30% 3.40% 4Q191Q202Q203Q204Q201Q212Q213Q214Q21 Reported NIM vs. Adjusted NIM NIM (GAAP)NIM (Adjusted)* 0.00% 0.50% 1.00% 1.50% 2.00% 2.50% $0 $500 $1,000 $1,500 $2,000 $2,500 $3,000 $3,500 $4,000 $4,500 Average Quarterly Yield Average Balances ($ in millions) Quarterly Avg. FFS and IB Cash Avg. FFS & IB CashYield 2.00% 2.25% 2.50% 2.75% 3.00% 3.25% 3.50% $2,500 $3,000 $3,500 $4,000 $4,500 $5,000 $5,500 $6,000 Average Quarterly Yield Average Blalances ($ in millions) Quarterly Avg. Securities Avg. SecuritiesYield PNFP’s Asset Quality Has Continued to Hold Up Asset quality metrics continue to remain strong as we enter 2022 11 4Q21 Credit Highlights •Several credit measurements at all time records and top quartile of peers. •ACL to total loans decreased to 1.12%. Further reductions are likely if macro factors continue to improveand the credit performance of our portfolio remains strong. 0.13% 0.11% 0.07% 0.19% 0.14% Net Charge-offs 0.55% 0.58% 0.46% 0.38% 0.17% NPA/ Loans & ORE 12.9% 12.4% 13.4% 8.1% 4.1% Classified Asset Ratio 0.38% 0.34% 0.18% 0.19% 0.09% Past Dues as a % of Total Loans 4Q213Q214Q20 Linked-Quarter Annualized Growth % Year-over-Year Growth % Service charges $12,663$11,435$8,486 43.0%49.2% Investment services 11,0819,6487,593 59.4%45.9% Trust fees 5,9265,0494,382 69.5%35.2% Insurance commissions 2,3282,5572,300 (35.8%)1.2% Gain on mortgage loans sold, net 4,2447,81412,387 (>100.0%)(65.7%) Investment gains and losses, net393-- 100.0%100.0% Income from equity method investment (BHG)30,84430,40924,294 5.7%27.0% Other: Interchange and other consumer fees15,22815,29811,732 (1.8%)29.8% Bank-owned life insurance4,7324,7414,849 (0.8%)(2.4%) Loan swap fees1,9471,5791,402 93.2%38.9% SBA loans sales 2,7393,8141,828 (>100.0%)49.8% Income from other equity investments4,1098,6041,064 (>100.0%)>100.0% Other4,4893,1473,127 >100.0%43.6% Total noninterest income$100,723$104,095$83,444 (13.0%)20.7% Noninterest income/Average Assets1.08%1.15%0.96% (24.3%)12.5% Noninterest income**$100,330$104,095$83,444 (14.5%)20.2% Noninterest Income**/Total Average Assets1.07%1.15%0.96% (27.8%)11.5% Noninterest Income**/Total Average Assets^1.09%1.18%1.03% (30.5%)5.8% **:Excluding gains and losses on sales of investment securities. For a reconciliation of these Non-GAAP financial measures to the comparable GAAP measures, see slides 56-57. ^: Excluding the impact of PPP loans on average assets PNFP Grew Fees more than 20% YOY Business lines had an extremely good year •Wealth management fees are up due to broader market appreciation as well as the addition of 17 wealth management advisors over the last year. •Income from BHG continues to be strong. Linked- quarter revenues flat in 4Q21, but up more than 46% for full-year 2021 over 2020. •Interchange fees have increased since last year as a result of increased deposit accounts. •Increased valuations in the underlying portfolios of certain VC fund investments resulted in significant 2021 fee income from other equity investments although income from these investments was down in 4Q21 on a linked- quarter basis compared to significant increases in 3Q21 and 2Q21. 12 *:Excluding the impact of ORE expense (income), FHLB restructuring and hedge termination charges. **: Excluding the impact of ORE expense (income), securities gains and losses, net, FHLB restructuring and hedge termination charges. For a reconciliation of these Non-GAAP financial measures to the comparable GAAP measures, see slide 56-57. •Salary costs reflect increased personnel as total FTEs in 4Q21 have increased by 71.5 FTEs since 3Q21 and 207 FTEs since 4Q20. •Due to strong performance in 2021, incentive accruals for both the annual cash incentive and long-term equity plans reflect above-target payouts for 2021 compared to below- target payouts in 2020. •Marketing and other business development expense up in 4Q21 due to increased client-relations costs as COVID-19 restrictions were relaxed over time. •Lending-related costs up due to ancillary costs related to PPP lending. Expenses in line with Expectations for 4Q21 Incentive expenses fluctuations positively correlate with earnings 13 4Q213Q214Q20 Linked-Quarter Annualized Growth % Year-over-Year Growth % Salaries and employee benefits: Salaries$64,182$61,382$54,390 18.2%18.0% Commissions6,0136,0974,192 (5.5%)43.4% Cash and equity incentives 24,18730,16918,096 (79.3%)33.7% Employee benefits and other15,66614,75813,335 24.6%17.5% Total salaries and benefits$110,048$112,406$90,013 (8.4%)22.3% Equipment and occupancy 24,99723,71223,84921.7%4.8% Other real estate owned, net 37(79)1,457>100.0%(97.5%) Marketing and other business development 4,5623,3252,979>100.0%53.1% Postage and supplies 2,1912,0831,99820.7%9.7% Amortization of intangibles 2,0572,0882,377(5.9%)(13.5%) Other noninterest expense: Deposit related expense4,4045,7547,443 (93.8%)(40.8%) Lending related expense12,02510,1378,726 74.5%37.8% Wealth management expense541464482 66.4%12.2% Other noninterest expense9,5558,96121,981 26.5%(56.5%) Total$26,525$25,316$38,632 19.1%(31.3%) Total noninterest expense$170,417$168,851$161,305 3.7%5.6% Efficiency ratio50.2%49.4%53.0% 6.5%(5.3%) Expense/Total Average Assets1.82%1.87%1.86% (10.7%)(2.2%) Noninterest expense *$170,380$168,930$144,868 3.4%17.6% Efficiency ratio ** 50.3%49.5%47.6% 6.5%5.7% Noninterest Expense*/Total Avg. Assets1.82%1.87%1.67% (10.7%)9.0% Headcount (FTE)2,841.02,769.52,634.0 10.3%7.9% •Share Buy Back Program – •Board authorized a $125.0 million plan on January 18, 2022to commence when current plan expires on March 31, 2022; new plan approved through March 31, 2023; no shares repurchased under the most recent authorization. Capital Update for Fourth Quarter 2021 Sub Debt redemption completed in 4Q21, increase to common dividend as we enter 2022 Tangible book value per share growth remains our focus, but other capital initiatives will be considered •Subordinated Indebtedness – •Redeemed $130 million of bank-level subordinated debt in July 2021. •Redeemed additional $120 million of parent company subordinated debt in November 2021 •Tangible Book Value per Common Share Growth – •Tangible book value per common share at Dec. 31, 2021up 14.2% from Dec. 31, 2020. •Growth in tangible book value per common share in comparison to peers added as a performance component to leadership equity compensation plan in 2021 and will remain a component for 2022. 18.2% 15.0% 19.0% 14.8% 14.2% 2017 2018 2019 2020 2021 Focused growth in TBV per common share **: excluding goodwill, core deposit and other intangible assets Note: For a reconciliation of these Non-GAAP financial measures to the comparable GAAP measures, see slides 56-57. Peer group noted on slide 58. 14 •Dividends – •Dividends per common share to increase to $0.22 from $0.18 in 1Q22. Tangible Book Value per Common Share** PNFP Optimistic about 2022 We remain confident in our model and look forward to the coming year 2022 Outlook –as of January 18, 2022 (Note) Y/Y End of Period Loan Growth•Estimate 10 to 15 percentage end-of-year loan growth for FY22 over 2021 year-end levels. Y/Y End of Period DepositGrowth •Client funding should continue to rise causing liquidity levels to remain elevated from historical norms for several quarters. Estimate core deposit growth of high single digits in 2022. Net interest income•GAAP net interest income for 2022 likely to be up mid-to high-single digits from 2021 due to anticipated increase in average loans in 2022 offset by decline in PPP income between 2022 and 2021. Anticipate first quarter 2022 will be impacted meaningfully by lessPPP revenues. Fee income•Planning on BHG FY22 fee income growth rate over FY21 of approximately 20% as BHG continues its strategy shift to retain moreloans on its balance sheet. •Anticipate high-single to low-double digit increase in noninterest income in 2022 over 2021 for non-BHG categories in the aggregate. Income from other equity investments likely to be less in 1Q22 and 2022 from amounts recorded over last few quarters. Expenses•We will continue to aggressively recruit the best financial advisors in our markets which will also require increased infrastructure support. That said, we anticipate total expenses in 2022 to experience low-double digit increases in 2022 over 2021. Personnel expense in 1Q22 to be impacted by lower incentive costs offset by increases in headcount and seasonal merit raises and employment tax increases. Credit quality•Loss content in our loan portfolio should be manageable as we enter 2022. •Anticipate further reduction from the end-of-year 2021 ACL to total loans ratio given the current economic outlook and strong credit metrics. 15 Note: 2022 outlook is based on current facts and circumstances. Our outlook is subject to change based on numerous factors which may require us to change our outlook at any time. These factors may include, among the other risks described herein, changes in operating strategy, balance sheet positioning or macroeconomic factors such as significant changes in interest rates from those we are modeling or government stimulus programs. Bankers Healthcare Group BHG’s differentiated model has proven very resilient with continued strong originations, loan sales and yield/spread premium. The gain on sale model continues to provide meaningful earnings to BHG and to Pinnacle even as BHG further increases the mix toward balance sheet spread income via AAA-rated securitizations. Capital and reserve levels support a very sound balance sheet. 16 BHG Business Model Drives Outperformance •4Q21 was the 6th consecutive record highest origination quarter in the history of BHG •Net interest spreads (~10%) have been resilient for several years in spite ofinterest rate fluctuations •BHG’s vast bank funding platform provides ready liquidity and differentiates BHG from other online lenders Source: BHG Internal Data –charts exclude impact of PPP and SBA loans originated by BHG. Furthermore, borrower coupon rates include all loans originated by BHG including loans retained by BHG on balance sheet as well as loans sold to other banks. Record Year at BHG in 2021 BHG continues to originate loans at record levels while maintaining strong yields 13.3% 13.4% 13.7% 13.5%13.5% 13.8% 13.9% 13.6%13.6% 13.4% 13.9% 13.9% 5.4% 5.3% 5.3% 5.1% 5.2% 5.6% 4.9% 4.3% 4.0% 3.7% 3.4% 3.2% 0% 2% 4% 6% 8% 10% 12% 14% 16% 1Q192Q193Q194Q191Q202Q203Q204Q201Q212Q213Q214Q21 Borrower CouponBank Buy Rate - 200 400 600 800 0 200 400 600 800 1,000 1,200 1,400 1,600 20172018201920202021 Bank Network Trends Total Banks in NetworkUnique Buyers Total Banks in Network Unique Buyers Each Period 17 $302 $362 $396 $388 $429 $375 $452 $528 $628 $714 $727 $739 $205 $325 $327 $230 $381 $387 $400 $388 $443 $393 $383 $377 $0 $100 $200 $300 $400 $500 $600 $700 $800 1Q192Q193Q194Q191Q202Q203Q204Q201Q212Q213Q214Q21 OriginationsPlacements Loan Originations and Placements Coupon and Buy Rates 3.79% 2.94% 2.95% 1.83% 2.68% 3.25% 2.72% 2.47% 2.87% 2.51% 0.25% 0.36% 0.33% 0.58% 0.99% 1.30% 1.45% 1.16% 1.38% 2.13% 4.04% 3.31% 3.28% 2.40% 3.66% 4.55% 4.17% 3.64% 4.26% 4.64% 0.00% 1.00% 2.00% 3.00% 4.00% 5.00% 6.00% Recourse Losses as % of Outstanding Balances Credit Loss %Prepayment Loss % •Recourse obligation reserves decreased to 5.00% of total loans outstanding (loans sold to other banks) •4Q21 reduction in recourse obligation includes another release of COVID reserves (majority of which were added in 2020) BHG Credit Quality Continues to Impress Sophisticated credit scoring models produce impressive results Recourse Obligation Reserves (Note) (Green Bars –Balance of loans in bank network, $s in millions) Note: Recourse Obligation is a reserve on BHG’s balance sheet set aside to cover losses attributable to acceptance of substitutions from loans previously sold to banks in the BHG network. Source: BHG Internal Data On Balance Sheet Reserves Remain Strong Additional COVID-related reserves released in 2021 18 4.20% 3.79% 3.73% 3.22% 3.74% 4.56% 4.71% 4.62% 7.64% 5.00% $- $500 $1,000 $1,500 $2,000 $2,500 $3,000 $3,500 $4,000 $4,500 0.00% 1.00% 2.00% 3.00% 4.00% 5.00% 6.00% 7.00% 8.00% 2012201320142015201620172018201920202021 Total Ending Balance at outside banks only ($millions)Recourse Obligation as a % of Outstanding •FICO scores continue to reflect a high caliber borrower base •Average FICO scores of 735 at origination for loans outstanding at Dec. 31, 2021 •Historical credit results indicate that 70% of losses occur within first 36 months of origination •Data is through Dec. 31, 2021; 2020 information includes 24 months of history. Steady improvement in credit over past 7-8 years. BHG Credit Quality Continues to Impress Sophisticated credit scoring models produce impressive results Historical FICO Scores Source: BHG Internal Data Improved Credit Quality Vintage analysis demonstrates continuous improvement in asset quality 0%10%20%30%40%50%60%70%80%90%100% 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 <650650-699700-749750-799>800 19 The Pandemic Served to Validate the BHG Model BHG believes its unique model is outperforming other online lenders by a wide margin BHG Future Growth opportunities •Deeper penetration for Core Product < 1% of market share currently •Expansion of credit card platform to medical and other professionals as well as potential alliances with Banks and other FinTechs •Patient lending for hospitals and surgery centers with loan terms up to 60 months •POS opportunities for elective medical procedures as well as other retail and home improvement financing outlets •White label consumer lending platform with Bank Network •Leverage partnership with Pinnacle to develop deposit products for medical and other professionals •Reduced anticipated growth to 20% from 30% as BHG plans to balance sheet more loans in 2022 than previously anticipated 20 $0 $50 $100 $150 $200 $250 $300 $350 $400 201720182019202020212022 (fc) BHG Pre-Tax Profitability BHG estimates pre-tax profit growth in 2022 of ~20% The Past, the Present, and the Future We believe our advantaged markets, our long-standing model for attracting talent and demonstrable ability to “wow” our clients should yield top-quartile growth and has positioned us for the continued share grab that should be available given the stressed client loyalty for our largest competitors. 21 The Past PNFP is an Employer of Choice as Key Competitors Remain Vulnerable 22 Revenue Producers Hired 201777 2018109 201989 202087 2021 119 Other Truist Wells Fargo BBVA First Horizon Fifth Third First Citizens Bank Regions 2021 Revenue Producers By Competitor 23 The Past PNFP’s Differentiated Model has Yielded Consistent, Sustainable Growth Engaged ClientsExcited Associates Enriched Shareholders 2021 Workplace Awards Greenwich Net Promoter Scores •No. 1 Best Place to Work in the Triad, NC (extra-large company category), Triad Business Journal, 2020 and 2021 •No. 1 Top Workplaces in Charlotte,NC, Charlotte Observer –2021 •Triangle (Raleigh-Durham): No. 1 Best Places to Work in the Triangle, Triangle Business Journal, 2021 •No. 1 Top Workplaces in South Carolina, Greenville, Columbus and Charleston Business magazines –2020 and 2021 0%50%100% North Carolina Charlotte Greensboro PromotersPassivesDetractors NPSRank 71 56 701 Source: 2021 Greenwich Associates Market Tracking Program (Pinnacle Financial - $1-500MM –Q3 2021 R4Q –Banking). 2021 Loan Growth •C&I and OO CRE –25.1% •NOO CRE & Construction –4.7% •Total Loan Growth –10.7% 2021 Core Deposit Growth •Transaction & MMDA –26.5% •CDs –(20.4%) 2021 Fee Income Growth –42.1% 2021 New Revenue Producers -42 Carolinas & Virginia North Carolina and Virginia serve as a great example 24 •Associate engagement advanced even during COVID •Client net promoter scores advanced even during COVID •PNFP produced top quartile total shareholder return in 2021, with: •core loan growth11.7% •core deposit growth24.7% •fee income growth24.5% •EPS growth67.5% •TBV growth14.2% •The firm was positioned for continued outsized growth •Atlanta •Birmingham •Huntsville •Washington, DC •Produced outsized growth and infrastructure while controlling expenses in 2021, with: •NIE / Assets1.85% The Past 2021 Summary The Present 2022 Priorities 25 1. Engage every single associate 2. Get paid for our premium service level 3. Seize market share opportunities around the Southeast 4. Meet all ofour clients’ needs 5. Maintain strong asset quality The Future 26 How do we achieve our goal? •Continuity of senior management while keeping an eye on the next generation of leaders •Seize the opportunity to possess the dominant Southeastern banking franchise Q&A FOURTH QUARTER 2021 27 Supplemental Information Slide # •Balance Sheet29 •Income Statement52 •Peer Group58 28 Balance Sheet –Loan Portfolio Segments ($ in millions)Amts. 4Q21 % 4Q21 Amts. 3Q21 % 3Q21 Amts. 4Q20 % 4Q20 Amts. 4Q19 %s 4Q19 C&I $7,703.532.9%$7,079.430.7%$6,239.627.8%$6,290.331.8% C&I –Paycheck Protection Program 371.11.6%708.73.1%1,798.98.0%-0.0% CRE –Owner Occ. 3,048.813.0%2,954.612.8%2,802.212.5%2,669.813.5% Total C&I & O/O CRE $11,123.447.5%$10,742.746.6%$10,840.748.3%$8,960.145.3% CRE –Investment 4,607.019.7%4,597.720.0%4,565.020.4%4,418.7 22.3% CRE –Multifamily and other 614.72.6%621.52.7%638.32.9%620.8 3.1% C&D and Land 2,903.012.4%3,097.013.4%2,901.812.9%2,430.5 12.3% Total CRE & Construction $8,124.734.7%$8,316.236.1%$8,105.136.2%$7,470.0 37.7% Consumer RE 3,680.715.7%3,540.415.3%3,099.213.8%3,068.6 15.5% Consumer and other 485.52.1%459.22.0%379.51.7%289.3 1.5% Total Other $4,166.217.8%$3,999.617.3%$3,478.715.5%$3,357.9 17.0% Total loans $23,414.3100.0%$23,058.5100.0%$22,424.5100.0%$19,788.0 100.0% 29 ($ in millions)TOTAL PINNACLETN/AL LOANSCAROLINAS/ VA LOANSGEORGIAOTHER UNIT LOANS* Amts. 4Q21 Amts. 4Q20 Amts. 4Q21 Amts. 4Q20 Amts. 4Q21 Amts. 4Q20 Amts. 4Q21 Amts. 4Q20 Amts. 4Q21 Amts. 4Q20 C&I$7,703.5$6,239.6$5,139.7$4,401.3$1,187.3$871.4$142.1$28.9$1,234.4$938.0 C&I –Paycheck Protection Program371.11,798.9------371.11,798.9 CRE –Owner Occ.3,048.82,802.21,656.01,595.61,141.1990.0157.857.893.9158.8 Total C&I & O/O CRE$11,123.4$10,840.7$6,795.7$5,996.9$2,328.4$1,861.4$299.9$86.7$1,699.4$2,895.7 CRE –Investment4,607.04,565.01,616.41,848.92,884.32,606.555.87.450.5102.2 CRE –Multifamily and other 614.7638.3430.2471.3161.2165.721.0-2.31.3 C&D and Land2,903.02,901.81,629.61,609.71,173.31,256.170.42.029.734.0 Total CRE & Construction$8,124.7$8,105.1$3,676.2$3,929.9$4,218.8$4,028.3$147.2$9.4$82.5$137.5 Consumer RE3,680.73,099.22,317.01,828.21,238.31,142.145.914.679.5114.3 Consumer and other485.5379.5173.5165.740.440.12.20.4269.4173.3 Total Other$4,166.2$3,478.7$2,490.5$1,993.9$1,278.7$1,182.2$48.1$15.0$348.9$287.6 Total Loans$23,414.3$22,424.5$12,962.4$11,920.7$7,825.9$7,071.9$495.2$111.1$2,130.8$3,320.8 Average Ticket Size (in ‘000s) $310.8$279.2$434.8$407.8$249.8$223.7$984.6$218.0$158.0$854.8 Balance Sheet –Loan Portfolio –Market Segmentation Note: Percentages noted in red text represent year-over-year growth rates. *: Represents mortgage, associate banking, automobile finance and various other business lines. 30 Balance Sheet –Loan Portfolio –CRE Segmentation ($ in millions) Total NOO and MultifamilyTotal ConstructionTotal NOO and Construction Amts. 4Q21 Amts. 3Q21 Amts. 4Q20 Amts. 4Q21 Amts. 3Q21 Amts. 4Q20 Amts. 4Q21 Amts. 3Q21 Amts. 4Q20 Multifamily $602.0$609.2$618.3$705.7$761.2$750.9$1,307.7$1,370.4$1,369.2 Hospitality 843.0830.9830.824.783.995.0867.7914.8925.8 Retail 1,275.31,277.71,284.3157.8168.7191.01,433.11,446.31,475.3 Office 822.8820.1807.0149.6199.7186.1972.41,019.8993.1 Warehouse 639.9700.2643.5413.6350.9355.31,053.51,051.1998.8 Medical 479.5431.6523.376.883.0103.9556.3514.5627.2 Other 559.2549.5496.11,374.81,449.71,219.61,934.01,999.21,715.7 Total $5,221.7$5,219.2$5,203.3$2,903.0$3,097.0$2,901.8 $8,124.7$8,316.2$8,105.1 Average Ticket Size (in ‘000s) $1,938.8$1,933.3$1,892.4$681.1$672.5$731.1 $1,168.9$1,140.9$1,207.7 31 32 Rate IndexEnd-of-PeriodWeighted Average Coupon New Loans Originated At Dec. 31, 2020 At Sep. 30, 2021 At Dec. 31, 2021 YOY Change As a % of Total Portfolio 4Q203Q214Q21 Origination Mix 4Q21 LIBOR/SOFR2.87%2.78%2.75%(0.12)%34.8%3.07%2.62%2.67%39.6% 1-MO LIBOR0.14%0.08%0.10%(0.04)%0.15%0.09%0.09% Prime3.77%3.76%3.77%(0.00)%17.0%3.89%3.35%3.87%18.5% FFS target0.25%0.25%0.25%0.00%0.25%0.25%0.25% Fixedrate4.23%3.98%3.88%(0.35)%43.3%3.84%3.78%3.64%38.8% 5-YR UST0.36%0.96%1.26%0.90%0.37%0.80%1.18% Total Loans*3.65%3.52%3.47%(0.18)%3.53%3.37%3.30% *Excludes leases, credit cards, PPP loans and loans HFS; loan yields consider contractual floors for individual loans but exclude the impact of other loan interest rate derivative products. Balance Sheet –Loan Pricing Information PPP Program was a Differentiator for Pinnacle Pinnacle provided needed stimulus to smaller businesses in 2020 and 2021 PPP Trends $(000’s) Average Balances Aggregate Yield Interest Income Accretion Income Total Revenues 2Q20$ 1,689,0332.89%$ 4,673$ 7,449$ 12,122 3Q20$ 2,235,2772.77%$ 5,795$ 9,760$ 15,555 4Q20$ 2,111,2824.64%$ 5,223$ 19,421$ 24,644 1Q21$ 2,064,8824.51%$ 5,167$ 17,788$ 22,955 2Q21$ 1,929,3635.47%$ 4,987$ 21,318$ 26,305 3Q21$ 983,4868.54%$ 2,711$ 18,464$ 21,175 4Q21$530,93011.56%$ 1,396$ 14,078$ 15,474 •$371.1 million in PPP balances remain on balance sheet at Dec. 31, 2021 •Unamortized fees of $15.1 mm at Dec. 31, 2021to be recognized as loans are paid down or forgiven 33 ($000’s)2020 PPP2021 PPPTotals Total PPP fundings through Dec. 31, 2021$ 2,483,177 $ 933,872$ 3,417,049 Total forgiveness, payoffs processed through Dec. 31, 2021 $ 2,448,098$ 597,834$ 3,045,931 Net PPP Balances at Dec. 31, 2021$ 35,079$ 336,039$ 371,118 Total fees for PPP fundings$ 77,431$ 46,021$ 123,452 Fee income recognized through Dec. 31, 2021$ 77,203$ 31,108$ 108,311 Fees unrecognized$ 229$ 14,914$ 15,143 Total interest income recognized in 2021$ 7,800$ 6,461$ 14,261 Total fee income recognized in 2021$ 40,539$ 31,108$ 71,647 Total revenues from PPP in 2021$ 48,340$ 37,569$ 85,909 Asset Quality Has Continued to Hold Up COVID-impacted categories continue to outperform initial expectations Outstanding Balances% Nonperforming Loans% Classified Loans% Past Due > 30 days 4Q214Q204Q214Q204Q214Q204Q214Q20 Hotels NOO CRE & Construction$890,535$974,263-0.16%0.25%0.87%-- Paycheck Protection Program 29,07940,165 Retail C&I, OO CRE & Other$1,275,483$999,2910.01%0.10%0.34%0.54%-0.47% NOO CRE & Construction1,314,5931,315,7760.02%0.04%0.34%3.16%0.06%0.35% Paycheck Protection Program 19,554154,872 Restaurants C&I, OO CRE & Other$444,809$372,9890.07%0.49%1.44%4.77%0.10%0.62% NOO CRE & Construction150,646157,0190.14%0.24%-2.87%0.14%0.75% Paycheck Protection Program 82,271166,635 Entertainment C&I, OO CRE & Other$798,034$729,3950.07%0.22%0.10%0.29%0.07%0.22% NOO CRE & Construction16,37436,367----- Paycheck Protection Program 15,14544,494 Total COVID Segments $5,036,525$4,991,2670.03%0.16%0.38%1.69%0.04%0.32% 34 Balance Sheet –Loan Portfolio Lines of Credit ($'s in millions) 6/30/20209/30/202012/31/20203/31/20216/30/20219/30/202112/31/2021 Linked Qtr. Change CRE –Investment & Construction Net Active Balance$4,090.80 $4,067.10$4,106.82$4,051.74$3,921.54$4,040.73$3,727.20($313.53) Net Available Credit3,029.60 3,060.303,191.473,463.313,841.694,158.194,968.76810.57 Total Exposure7,120.30 7,127.507,298.297,515.067,763.248,198.928,695.96497.04 % Funded57.5%57.1%56.3%53.9%50.5%49.3%42.9%(6.4%) C&I and O/O CRE Net Active Balance$3,702.60 $3,630.10$3,367.16$3,428.60$3,658.73$3,939.28$4,148.52$209.23 Net Available Credit4,312.10 4,734.504,674.905,036.065,054.445,403.245,870.42467.18 Total Exposure8,014.70 8,364.608,042.068,464.678,713.179,342.5310,018.94676.41 % Funded46.2%43.4%41.9%40.5%42.0%42.2%41.4%(0.8%) Consumer Net Active Balance$1,333.30 $1,302.20$1,571.21$1,511.32$1,597.98$1,597.06$1,608.47$11.41 Net Available Credit1,534.10 1,583.201,826.241,922.711,994.212,062.242,224.75162.52 Total Exposure2,867.60 2,885.603,397.453,434.033,592.193,659.303,833.22173.93 % Funded46.5%45.1%46.2%44.0%44.5%43.6%42.0%(1.7%) Totals Net Active Balance$9,126.70 $8,999.40$9,045.19$8,991.67$9,178.25$9,577.07$9,484.18($92.89) Net Available Credit8,875.80 9,378.009,692.6110,422.0810,890.3411,623.6713,063.941,440.27 Total Exposure18,002.60 18,377.7018,737.8019,413.7520,068.5921,200.7422,548.121,347.38 % Funded50.7%49.0%48.3%46.3%45.7%45.2%42.1%(3.1%) 35 Total Allowance for Credit Losses for loans = $263.2 mm or 1.12% of loans atDecember 31, 2021, or 1.14% excluding PPP loans (1)Calculation based on end of period loan balance (2)Net charge-off percentage calculation is annualized and in relation to avg. quarterly loan balances (3)For a reconciliation of this Non-GAAP financial measures to the comparable GAAP measures, see slide 56-57. •3 rd party economic forecast model provides significant inputs into ACL calculation •Unemployment and GDP are primary economic forecast metrics •Weighted average of Baseline (50%), Optimistic (20%) and Pessimistic (30%) scenarios used in 4Q 2021 Allowance for Credit Losses % of Loans Off-Balance Sheet Total AtDecember 31, 2020$285,0501.27% (1) $23,219$308,269 Net Charge Offs($11,397) 0.20% (2) ($11,397) 1Q Provision$7,228 -$7,228 AtMarch 31, 2021$280,881 1.22% (1) $23,219$304,100 Net Charge Offs($9,968) 0.17% (2) ($9,968) 2Q Provision$2,834 - $2,834 AtJune 30, 2021$273,747 1.20% (1) $23,219$296,966 Net Charge Offs($9,281) 0.16% (2) ($9,281) 3Q Provision$4,169 ($750)$3,419 AtSeptember 30, 2021$268,635 1.17% (1) $22,469$291,104 Net Charge Offs($8,077) 0.14% (2) ($8,077) 4Q Provision$2,675 -$2,675 AtDecember 31, 2021$263,233 1.12% (1) $22,469$285,702 AtDecember 31, 2021Excluding PPP Loans (3) 1.14% (1)(3) Forecasted economicmetrics (1) BaseCase Outlook at:1Q222Q223Q224Q22 US UnemploymentRates 3Q214.63%4.26%3.97%3.78% 4Q213.91%3.68%3.49%3.36% US Real GDP Change 3Q216.84%7.91%8.74%9.39% 4Q216.48%7.54%8.50%9.19% (1)Weighted metrics are used in PNFP CECL assessment. Unemployment rates are quarterly averages. US Real GDP rates are change in quarterly GDP from 4Q20. $32 $28 $24 $21 $18 $15 $- $25 $50 Remaining Purchase Accounting Discount Trends (millions of dollars) Note: Above amounts not included in ACL balances above Current Expected Credit Losses 36 Current Expected Credit Losses Allowance for Credit Losses December 31, 2020 CECL March 31, 2021 CECL June 30, 2021 CECL September 30, 2021 CECL December 31, 2021 CECL Amount% of LoansAmount% of LoansAmount% of LoansAmount% of LoansAmount% of Loans Commercial and Industrial $ 98,4231.58% *$ 101,0761.59% *$102,1011.51%*$101,1461.43%*$112,3401.46%* Commercial Real Estate102,4301.28%102,5841.22%98,3921.20%93,2851.14%78,1220.94% Construction and Land Development 42,4081.46%37,6421.47%33,4871.20%32,8601.06%29,4291.01% Consumer Real Estate33,3041.07%30,1990.98%30,4450.91%31,0250.88%32,1040.87% Consumer and Other8,4852.24%9,3802.28%9,3222.12%10,0492.18%11,2382.31% Allowance for Loan Losses$ 285,0501.38% *$ 280,8811.35%* $ 273,7471.27%*$268,6351.20%*$263,2331.14%* Reserve for unfunded commitments23,21923,21923,21922,46922,469 Allowance for Credit Losses -Total$ 308,269$ 304,100$296,966$291,104$285,702 *: Reserve percentages for C&I and total loans exclude SBA PPP loans. For a reconciliation of this Non-GAAP financial measures to the comparable GAAP measures, see slide 56-57. 37 Asset Quality (*) Excludes past due loans rated substandard ($in millions)December 31, 2021 AS A % OF TOTALLOANS September 30, 2021 AS A % OF TOTALLOANS December 31, 2020 AS A % OF TOTALLOANS NPLs and > 90 days Const. and land development $3560.00%$1,6450.01%$1,9540.01% Consumer RE 10,4080.04%19,3570.08%22,4630.10% CRE –Owner Occupied 2,6940.01%2,4410.01%10,2300.05% CRE –Non-Owner Occupied 1,4040.01%1,9010.01%5,2200.02% Total real estate $14,8620.06%$25,3440.11%$39,8660.18% C&I 17,9410.08%22,9930.10%36,0240.16% Other3740.00%2690.00%3080.00% Total loans $33,1770.14%$48,6060.21%$76,1970.34% Classified loans and ORE Substandard commercial loans$129,6950.55%$164,8760.72%$222,7960.99% Doubtful commercial loans-0.00%-0.00%-0.00% Other impaired loans11,4720.05%21,0580.09%24,5520.11% 90 days past due and accruing (*)1,6070.01%1,9140.01%2,3620.01% Other real estate8,5370.04%8,4150.04%12,3600.06% Other repossessed assets-0.00%-0.00%-0.00% Total$151,3110.65%$196,2630.85%$262,0691.17% Pinnacle Bank classified asset ratio4.1%5.6%8.1% 38 Balance Sheet –Loan Portfolio 39 -0.20% -0.10% 0.00% 0.10% 0.20% 0.30% 0.40% 0.50% 0.60% CREConstructionC&INet commercial charge offs Net Commercial Loan Charge Offs by Loan Type 20172018201920202021 -0.50% 0.00% 0.50% 1.00% 1.50% 2.00% 2.50% 3.00% Consumer REConsumer and otherNet consumer charge offs Net Consumer Loan Charge Offs by Loan Type 20172018201920202021 Balance Sheet –Loan Portfolio –100/300 Test ($ in thousands) Description4Q213Q212Q211Q214Q203Q20 Loans secured by real estate: Construction, land development, and other loans: 1-4 family residentialconstruction loans$625,862$635,470$556,052$548,614$514,819$527,743 Other constructionloans and all land development and other land loans2,277,1552,461.4912,235,5592,020,3552,386,9272,200,696 Loans included in the 100% test$2,903,017$3,096,961$2,791,611$2,568,969$2,901,746$2,728,439 Securedby multifamily (5 or more) residential properties$627,803$664,599$739,788$798,120$663,664$578,948 Loans securedby other nonfarm nonresidential properties4,607,0484,597,7374,644,5514,782,7124,565,0404,648,457 Financed realestate not secured by real estate 452,283389,190490,637510,756475,339503,081 Loansincluded in the 300% test$8,590,150$8,748,487$8,666,587$8,660,556$8,605,789$8,458,925 Total Risk-Based Capital$3,670,111$3,466,596$3,483,255$3,382,393$3,259,538$3,146,468 %ofTotal Risk-Based Capital 100% Test –Constructionand LandDevelopment79%89%80%76%89%87% 300% Test –Construction and Land Development + NOOCRE + Multifamily234%252%249%256%264%269% 40 Balance Sheet –Deposit Portfolio –Market Segmentation ($ in millions) TOTAL DEPOSITSCORE DEPOSITSNONCORE DEPOSITS TOTAL PINNACLETRANSACTION AND MMDACDsPUBLIC FUNDS and OTHER DEPOSITS 4Q214Q204Q214Q204Q214Q204Q214Q20 Nashville$13,165.5$10,550.3$12,650.8$9,850.4$351.8$469.5$162.9$230.4 Knoxville2,624.32,295.22,537.22,168.653.690.333.536.3 Music and Entertainment581.8344.6579.7336.21.41.80.76.6 Memphis1,867.21,356.01,659.51,151.3113.8139.593.965.2 Chattanooga1,815.61,508.51,729.51,414.630.146.456.047.5 Birmingham63.4-63.4----- Huntsville114.9-114.8-0.1--- Total TN/AL$20,232.7$16,054.6$19,334.9$14,921.1$550.8$747.5$347.0$386.0 Greensboro/Highpoint2,862.42,501.42,521.52,077.8226.9269.6114.0154.0 Charlotte1,959.91,572.91,790.41,311.9129.2161.540.399.5 Charleston1,321.41,087.51,209.5944.191.0118.620.924.8 Raleigh980.0777.9931.1716.336.643.612.318.0 Roanoke905.7844.8827.0726.567.896.810.921.5 Greenville455.5370.1390.1287.449.264.616.218.1 Total Carolinas / VA$8,484.9$7,154.6$7,669.6$6,064.0$600.7$754.7$214.6$335.9 Atlanta152.6112.7152.3112.70.3--- Other2,434.34,383.7994.5896.413.814.61,426.03,472.7 Total$31,304.5$27,705.6$28,151.3$21,994.2$1,165.6$1,516.8$1,987.6$4,194.6 Note: Percentages noted in red text represent year-over-year growth rates. 41 Balance Sheet –Bond Portfolio Statistics ●Investmentsto Total Assets of 15.8% 13.3% 2.5% 30.9% 4.3% 2.6% 46.4% Agency/TreasuryCorporatesMBSAsset BackedCMOsMunicipals Portfolio: December 31, 2021 Total Investments $6.1billion Net Unrealized Gain$81.0 million QuarterDurationAvg. Yield-TE 4Q214.1%2.1% 3Q214.5%2.0% 2Q214.3%2.3% 1Q214.8%2.3% 4Q204.4%2.3% 3Q204.7%2.4% 2Q204.6%2.6% 1Q204.3%2.8% 4Q194.8%2.9% 3Q194.4%3.0% 2Q194.1%3.2% 1Q193.7%3.4% 42 Investment Securities Segmentation Note: See slide 58for peer group utilized in the above analysis. Source: S&P Global 76% 78% 75% 76%76% 24% 22% 25% 24% 24% Dec. 2020Mar. 2021Jun. 2021Sep. 2021Dec. 2021 Effective Bond Portfolio Composition End of Period Fixed RateVariable Rate Balance Sheet –Bond Portfolio 43 2.08 15.8 - 5.0 10.0 15.0 20.0 25.0 30.0 35.0 40.0 - 0.50 1.00 1.50 2.00 2.50 3.00 3.50 4.00 2016Q42017Q12017Q22017Q32017Q42018Q12018Q22018Q32018Q42019Q12019Q22019Q32019Q42020Q12020Q22020Q32020Q42021Q12021Q22021Q32021Q4 % of Total Assets Bond Yields PNFP - Bond YieldsPeer Median - Bond Yields PNFP - % of Total AssetsPeer Median - % of Total Assets Bond Yield Trends %age of Total Asset Trends Interest Rate Sensitivity ▪The balance sheet is asset sensitive, and we are likely to experience only a modest benefit during the first 50bp of hikes with increasing benefit from asset sensitivity thereafter due to impact of loan floors. ▪Asset sensitivity in a +100bp scenarios is impacted by in-the-money loan floors. There are $4.5b of variable rate loans with in-the-money floors. The first 50bp clears 40% of the floors and the first 100bp clears 88%. ▪In a +200bp ramp scenario, projected NII increases to +2.6% from 0.6%. In a +200bp shock scenario projected NII increases to +6.7% from 2.8%. The difference between +100/200bp scenarios represents the impact of the elimination of loan floors. ▪The IRR sensitivity analysis assumes deposit betas based on the prior tightening cycle, which equates to a monthly beta of 58.5%for interest-bearing deposits (ex-CDs) based on the 12/31 deposit mix. Overall deposit beta in last cycle was approximately 40%. Given current industry liquidity levels, we areoptimistic we can outperform historical levels while still protecting relationship deposits. ▪Other factors that will gradually increase asset sensitivity over time include reinvestment of fixed-rate PPP proceeds, shortening the duration of the securities portfolio, and $230mm of pay-fixed forward swaps transacted in 2020 that are set to layer into the balance sheet in 2023/2024. 44 Note: We believe our interest rate sensitivity modeling is consistent with regulatory requirements.Our interest rate sensitivity modeling incorporates a number ofbroad assumptions for earnings simulation, including loan and deposit re-pricing characteristics, the rate of loan prepayments, static balance sheet, etc. Management periodically reviews these assumptions for accuracy based on historical data and future expectations and may change assumptions over time based on better data sources, improved modeling techniques, regulatory changes, etc. Our ALCO policy requires that the base scenario assumes ALL rates remain flat for the prescribed time periods and is the scenario, including those above, to which all others are compared in order to measure the change in net interest income. Policy limits are applied to the results of certain modeling scenarios. While the primary policy scenarios focus is on a twelve-month time frame, including the information above, for the earnings simulations model, longer time horizons are also modeled but are not shown herein. *Most recent IRR sensitivity analysis completed as of 11/30/21 -0.6% -1.2% 0.2% 0.4% 0.6% -0.1% -0.2% -0.7% -0.8% -1.1% -2.0% -1.5% -1.0% -0.5% 0.0% 0.5% 1.0% 1.5% 2.0% 4Q201Q212Q213Q214Q21* Net Interest Income % D Rate Ramp Scenarios Ramp +100bpRamp -100bp -0.7% -1.0% 1.9% 2.2% 2.8% -0.3% -1.8% -2.0% -2.1% -2.5% -4.0% -3.0% -2.0% -1.0% 0.0% 1.0% 2.0% 3.0% 4.0% 4Q201Q212Q213Q214Q21* Net Interest Income % D Rate Shock Scenarios Shock +100bpShock -100bp NIM Adjusted for PPP and Liquidity Impact –4Q21 Estimate PPP and Liquidity Build negatively impacted 4Q21 NIM by 0.25% (2) Yields computed on tax-exempt instruments on a tax equivalent basis and included $10.1 million of taxable equivalent income for the three months ended Dec. 31, 2021 omparedto $8.4 million for the three months ended Dec. 31, 2020. The tax-exempt benefit has been reduced by the projected impact of tax-exempt income that will be disallowed pursuant to IRS Regulations as of and for the then current period presented. (1) Average balances of nonperforming loans are included in the above amounts. (3) Net interest margin is the result of annualized net interest income calculated on a tax equivalent basis divided by average interest-earning assets for the period. Actual Avg Balances 4Q21 ProForma Adjustments Adjusted Avg Balances after PF EntriesInterest ProForma Adjustments Adjusted Interest after PF EntriesRates/ Yields ProForma Yield/ Rate Adj. Adj. Yield/ Rates after PF Entries Loans (1)(2) $ 23,226$ (531) a $ 22,695 $ 230.0 $ (15.5) a $ 214.64.04%11.56% a 3.86% Securities (2) Taxable3,113 3,113 9.79.71.24%1.24% Tax-exempt2,7012,701 16.9 16.93.04%3.04% Other1681680.50.51.28%1.28% Fed funds sold & Interest- bearing deposits4,188 (3,843) b 345 2.0 $ (1.8) b 0.2 0.19%0.19% b 0.19% $ 33,395(4,374)$ 29,021 $ 259.2 $ (17.3)$ 241.9 3.20%3.44% Nonearning assets3,737 3,737 $ 37,132 $ (4,374)$ 32,758 Total deposits and Interest- bearing liabilities31,549(4,374) a,b 27,175 20.4(2.8) a,b 17.60.26%0.26% a,b 0.26% Other liabilities321321 Stockholders' equity5,2635,263 $ 37,132$ (4,374)$ 32,758 Net Interest income$ 238.8 $ (14.5)$ 224.3 Net interest margin (3) 2.96%0.25%3.20% Pro Forma Adjustments a Average balances of PPP loans carried during 4Q21 at an average yield of 11.56%; assume funded from all funding sources. b Estimated average balances of excess liquidity carried during 4Q21 with average yield of 0.19%; assume funded from all funding sources. 45 NIM Adjusted for PPP and Liquidity Impact –3Q21 Estimate PPP and Liquidity Build negatively impacted 3Q21 NIM by 0.17% (2) Yields computed on tax-exempt instruments on a tax equivalent basis and included $8.5 million of taxable equivalent income for the three months ended September 30, 2021 compared to $7.3 million for the three months ended September 30, 2020. The tax-exempt benefit has been reduced by the projected impact of tax-exempt income that will be disallowed pursuant to IRS Regulations as of and for the then current period presented. (1) Average balances of nonperforming loans are included in the above amounts. (3) Net interest margin is the result of annualized net interest income calculated on a tax equivalent basis divided by average interest-earning assets for the period. Actual Avg Balances 3Q21 ProForma Adjustments Adjusted Avg Balances after PF EntriesInterest ProForma Adjustments Adjusted Interest after PF EntriesRates/ Yields ProForma Yield/ Rate Adj. Adj. Yield/ Rates after PF Entries Loans (1)(2) $ 22,987$ (984) a $ 22,003 $ 233.9 $ (21.2) a $ 212.74.13%8.54% a 3.93% Securities (2) Taxable2,868 2,868 9.09.01.24%1.24% Tax-exempt2,5832,583 15.9 15.92.93%2.93% Other1551550.50.51.38%1.38% Fed funds sold & Interest- bearing deposits3,588 (3,174) b 414 1.6 $ (1.5) b 0.1 0.18%0.18% b 0.13% $ 32,181(4,158)$ 28,023 $ 260.9 $ (22.7)$ 238.2 3.32%3.49% Nonearning assets3,715 3,715 $ 35,896 $ (4,158)$ 31,738 Total deposits and Interest- bearing liabilities30,379(4,158) a,b 26,221 23.3(3.2) a,b 20.10.30%0.30% a,b 0.30% Other liabilities340340 Stockholders' equity5,1775,177 $ 35,896$ (4,158)$ 31,738 Net Interest income$ 237.5 $ (19.5)$ 218.1 Net interest margin (3) 3.03%0.17%3.21% Pro Forma Adjustments a Average balances of PPP loans carried during 3Q21 at an average yield of 8.54%; assume funded from all funding sources. b Estimated average balances of excess liquidity carried during 3Q21 with average yield of 0.18%; assume funded from all funding sources. 46 NIM Adjusted for PPP and Liquidity Impact –2Q21 Estimate PPP and Liquidity Build negatively impacted 2Q21 NIM by 0.17% (2) Yields computed on tax-exempt instruments on a tax equivalent basis and included $7.9 million of taxable equivalent income for the three months ended June 30, 2021 compared to $6.9 million for the three months ended June 30, 2020. The tax-exempt benefit has been reduced by the projected impact of tax-exempt income that will be disallowed pursuant to IRS Regulations as of and for the then current period presented. (1) Average balances of nonperforming loans are included in the above amounts. (3) Net interest margin is the result of annualized net interest income calculated on a tax equivalent basis divided by average interest-earning assets for the period. Actual Avg Balances 2Q21 ProForma Adjustments Adjusted Avg Balances after PF EntriesInterest ProForma Adjustments Adjusted Interest after PF EntriesRates/ Yields ProForma Yield/ Rate Adj. Adj. Yield/ Rates after PF Entries Loans (1)(2) $ 23,180$ (1,929) a $ 21,251 $ 232.8 $ (26.3) a $ 206.54.11%5.47% a 3.98% Securities (2) Taxable2,581 2,581 8.48.41.30%1.30% Tax-exempt2,4562,456 16.5 16.5 3.25%3.25% Other1571570.60.61.47%1.47% Fed funds sold & Interest- bearing deposits2,986 (2,574) b 412 1.0 $ (0.9) b 0.1 0.13%0.13% b 0.13% $ 31,360 (4,503)$ 26,857 $ 259.2 $ (27.2)$ 232.1 3.42%3.58% Nonearning assets3,694 3,694 $ 35,054 $ (4,503)$ 30,551 Total deposits and Interest- bearing liabilities29,749 (4,503) a,b 25,246 26.0 (3.9) a,b 22.10.35%0.35% a,b 0.35% Other liabilities265 265 Stockholders' equity5,0405,040 $ 35,054$ (4,503)$ 30,551 Net Interest income$ 233.2 $ (23.2)$ 210.0 Net interest margin (3) 3.08%0.17%3.25% Pro Forma Adjustments a Average balances of PPP loans carried during 2Q21 at an average yield of 5.47%; assume funded from all funding sources. b Estimated average balances of excess liquidity carried during 2Q21 with average yield of 0.14%; assume funded from all funding sources. 47 NIM Adjusted for PPP and Liquidity Impact –1Q21 Estimate PPP and Liquidity Build negatively impacted 1Q21 NIM by 0.27% (2) Yields computed on tax-exempt instruments on a tax equivalent basis and included $7.3 million of taxable equivalent income for the three months ended March 31, 2021 compared to $7.0 million for the three months ended March 31, 2020. The tax-exempt benefit has been reduced by the projected impact of tax-exemptincome that will be disallowed pursuant to IRS Regulations as of and for the then current period presented. (1) Average balances of nonperforming loans are included in the above amounts. (3) Net interest margin is the result of annualized net interest income calculated on a tax equivalent basis divided by average interest-earning assets for the period. Actual Avg Balances 1Q21 ProForma Adjustments Adjusted Avg Balances after PF EntriesInterest ProForma Adjustments Adjusted Interest after PF EntriesRates/ Yields ProForma Yield/ Rate Adj. Adj. Yield/ Rates after PF Entries Loans (1)(2) $ 22,848$ (2,065) a $ 20,783 $ 227.4 $ (23.0) a $ 204.44.11%4.51% a 4.07% Securities (2) Taxable2,271 2,271 7.77.71.38%1.38% Tax-exempt2,3952,395 15.5 15.5 3.15%3.15% Other1601600.60.61.54%1.54% Fed funds sold & Interest- bearing deposits3,196 (2,752) b 445 0.7 $ (0.6) b 0.1 0.09%0.09% b 0.09% $ 30,871 (4,816)$ 26,054 $ 251.9 $ (23.6)$ 228.3 3.41%3.67% Nonearning assets3,789 3,789 $ 34,659 $ (4,816)$ 29,843 Total deposits and Interest- bearing liabilities29,373 (4,816) a,b 24,556 29.0 (4.8) a,b 24.30.40%0.40% a,b 0.40% Other liabilities332 332 Stockholders' equity4,954 4,954 $ 34,659 $ (4,816)$ 29,843 Net Interest income$ 222.9 $ (18.8)$ 204.0 Net interest margin (3) 3.02%0.27%3.29% Pro Forma Adjustments a Average balances of PPP loans carried during 1Q21 at an average yield of 4.51%; assume funded from all funding sources. b Estimated average balances of excess liquidity carried during 1Q21 with average yield of 0.09%; assume funded from all funding sources. 48 NIM Adjusted for PPP and Liquidity Impact –4Q20 Estimate PPP and Liquidity Build negatively impacted 4Q20 NIM by 0.29% (2) Yields computed on tax-exempt instruments on a tax equivalent basis and included $8.4 million of taxable equivalent income for the three months ended December 31, 2020 compared to $8.1 million for the three months ended December 31, 2019. The tax-exempt benefit has been reduced by the projected impact of tax-exempt income that will be disallowed pursuant to IRS Regulations as of and for the then current period presented. (1) Average balances of nonperforming loans are included in the above amounts. (3) Net interest margin is the result of annualized net interest income calculated on a tax equivalent basis divided by average interest-earning assets for the period. Actual Avg Balances 4Q20 ProForma Adjustments Adjusted Avg Balances after PF EntriesInterest ProForma Adjustments Adjusted Interest after PF EntriesRates/ Yields ProForma Yield/ Rate Adj. Adj. Yield/ Rates after PF Entries Loans (1)(2) $ 22,525$ (2,110) a $ 20,414 $ 232.6 $ (24.6) a $ 208.0 4.20%4.64% a 4.16% Securities (2) Taxable2,236 2,236 7.57.5 1.34%1.34% Tax-exempt2,3322,332 15.4 15.4 3.16%3.16% Other1571570.60.61.52%1.52% Fed funds sold & Interest- bearing deposits3,464 (2,978) b 486 0.9 $ (0.8) b 0.1 0.10%0.11% b 0.09% $ 30,714 (5,088)$ 25,626 $ 257.0 $ (25.4)$ 231.6 3.44%3.60% Nonearning assets3,723 3,723 $ 34,437 $ (5,088)$ 29,348 Total deposits and Interest- bearing liabilities29,239 (5,088) a,b 24,150 36.1 (6.3) a,b 29.80.49%0.49% a,b 0.49% Other liabilities346 346 Stockholders' equity4,852 4,852 $ 34,437 $ (5,088)$ 29,348 Net Interest income$ 221.0 $ (19.1)$ 201.9 Net interest margin (3) 2.97%0.29%3.27% Pro Forma Adjustments a Average balances of PPP loans carried during 4Q20 at an average yield of 4.64%; assume funded from all funding sources. b Estimated average balances of excess liquidity carried during 4Q20 with average yield of 0.11%; assume funded from all funding sources. 49 NIM Adjusted for PPP and Liquidity Impact –3Q20 Estimate PPP and Liquidity Build negatively impacted 3Q20 NIM by 0.40% (2) Yields computed on tax-exempt instruments on a tax equivalent basis and included $7.3 million of taxable equivalent income for the three months ended Sept. 30, 2020compared to $7.5 million for the three months ended September 30, 2019. The tax-exempt benefit has been reduced by the projected impact of tax-exempt income that will be disallowed pursuant to IRS Regulations as of and for the then current period presented. (1) Average balances of nonperforming loans are included in the above amounts. (3) Net interest margin is the result of annualized net interest income calculated on a tax equivalent basis divided by average interest-earning assets for the period. Actual Avg Balances 3Q20 ProForma Adjustments Adjusted Avg Balances after PF EntriesInterest ProForma Adjustments Adjusted Interest after PF EntriesRates/ Yields ProForma Yield/ Rate Adj. Adj. Yield/ Rates after PF Entries Loans (1)(2) $ 22,493 $ (2,235) a $ 20,258 $ 224.5 $ (15.6) a $ 208.9 4.04%2.77% a 4.19% Securities (2) Taxable2,226 2,226 8.38.3 1.43%1.48% Tax-exempt2,194 2,194 15.0 15.0 3.37%3.29% Other1521520.60.61.62%1.62% Fed funds sold & Interest- bearing deposits3,127 (2,616) b 511 0.8 $ (0.7) b 0.1 0.10%0.10% b 0.10% $ 30,192 (4,851)$ 25,341 $ 249.2 $ (16.3)$ 232.9 3.38%3.79% Nonearning assets3,647 3,647 $ 33,839 $ (4,851)$ 28,988 Total deposits and Interest- bearing liabilities28,731 (4,851) a,b 23,880 42.6 (7.2) a,b 35.4 0.59%0.59% a,b 0.59% Other liabilities342 342 Stockholders' equity4,766 4,766 $ 33,839 $ (4,851)$ 28,988 Net Interest income$ 206.6 $ (9.0)$ 197.5 Net interest margin (3) 2.82%0.40%3.22% Pro Forma Adjustments a Average balances of PPP loans carried during 3Q20 at an average yield of 2.77%; assume funded from all funding sources. b Estimated average balances of excess liquidity carried during 3Q20 with average yield of 0.10%; assume funded from all funding sources. 50 NIM Adjusted for PPP and Liquidity Impact –2Q20 Estimate PPP and Liquidity Build negatively impacted 2Q20 NIM by 0.32% (2) Yields computed on tax-exempt instruments on a tax equivalent basis and included $6.9 million of taxable equivalent income for the three months ended June 30, 2020 compared to $6.9 million for the three months ended June 30, 2019. The tax-exempt benefit has been reduced by the projected impact of tax-exempt income that will be disallowed pursuant to IRS Regulations as of and for the then current period presented. (1) Average balances of nonperforming loans are included in the above amounts. (3) Net interest margin is the result of annualized net interest income calculated on a tax equivalent basis divided by average interest-earning assets for the period. Actual Avg Balances 2Q20 ProForma Adjustments Adjusted Avg Balances after PF EntriesInterest ProForma Adjustments Adjusted Interest after PF EntriesRates/ Yields ProForma Yield/ Rate Adj. Adj. Yield/ Rates after PF Entries Loans (1)(2) $ 22,257 $ (1,689) a $ 20,568 $ 226.28 $ (12.12) a $ 214.16 4.16%2.89% a 4.27% Securities (2) Taxable2,157 2,157 9.59 9.59 1.79%1.79% Tax-exempt2,038 2,038 14.60 14.60 3.44%3.44% Fed funds sold2,619 (1,967) b 652 1.27 $ (0.42) b 0.85 0.20%0.09% b 0.29% $ 29,071 (3,656)$ 25,415 $ 251.74 $ (12.54)$ 239.20 3.58%3.89% Nonearning assets3,715 3,715 $ 32,786 $ (3,656)$ 29,130 Total Deposits and Interest Bearing Liabilities27,919 (3,656) a,b 24,263 51.08 (6.69) a,b 44.39 0.74%0.74% a,b 0.74% Other liabilities368 368 Stockholders' equity4,499 4,499 $ 32,786 $ (3,656)$ 29,130 Net Interest income$ 200.66 $ (5.86)$ 194.80 Net interest margin (3) 2.87%0.32%3.19% Pro Forma Adjustments a Average balances of PPP loans carried during 2Q20 at an average yield of 2.89%. Assume funded from all funding sources. b Estimated average balances of excess liquidity carried during 2Q20 with average yield of 0.09%. Assume funded from all funding sources. 51 Income Statement –Revenue per Common Share *: excluding gains and losses on sales of investment securities. For a reconciliation of these Non-GAAP financial measures to the comparable GAAP measures, see slide 56-57. Note: See slide 58 for peer group utilized in the above analysis. Peer group calculated by aggregating total peer revenues by total peer weighted avg. shares for each quarter. Source: S&P Global 52 $11.10 $11.43 $11.74 $12.13 $12.42 $12.92 $13.44 $13.54 $13.87 $14.05 $14.35 $15.07 $15.78 $16.51 $17.07 $17.50 8.8% 11.3% 11.9% 13.0% 11.9% 13.0% 14.5% 11.6% 11.6% 8.7% 6.8% 11.3% 13.8% 17.5% 19.0% 16.2% 7.3% 6.5% 6.7% 5.8% 5.0% 5.0% 4.3% 5.6% 6.8% 7.7% 3.2% 3.5% 5.8% 4.4% 3.4% 2.0% 4.0% 6.0% 8.0% 10.0% 12.0% 14.0% 16.0% 18.0% 20.0% $10.00 $10.50 $11.00 $11.50 $12.00 $12.50 $13.00 $13.50 $14.00 $14.50 $15.00 $15.50 $16.00 $16.50 $17.00 $17.50 $18.00 1Q182Q183Q184Q181Q192Q193Q194Q191Q202Q203Q204Q201Q212Q213Q214Q21 Y/Y Revenue per Share Growth Revenue per Share LTM Revenue Per Share Growth* vs. Peers PNFP LTM Revenue/Share*PNFP Y/Y GrowthPeer Median Y/Y Growth Income Statement –Mortgage Volumes 1.00% 1.50% 2.00% 2.50% 3.00% 3.50% 4.00% 4.50% 5.00% $25,000 $100,000 $175,000 $250,000 $325,000 $400,000 $475,000 $550,000 $625,000 Purchase Money Refinance Gross fees as a % of loans originated 53 ($'s in thousands) 20172018201920202021 PPNR Trends Net interest income $543,306$ 736,342$ 766,142$821,788$932,401 Noninterest income 144,904200,850263,826317,840395,734 Noninterest expense (366,560)(452,867)(505,148)(564,455)(660,104) PPNR before adjustments$ 321,650$ 484,325$ 524,820$575,173$668,031 Adjustments to PPNR Investment (gains) and losses$ 8,265$ 2,254$ 5,941($986)($759) Loss on sale of non-prime automobile portfolio--1,536-- ORE expense (benefit)1,0797234,2288,555(712) Merger charges31,8438,259--- FHLB restructuring charges---15,168- Hedge termination charges---4,673- Branch rationalization charges--3,189-- Adjusted PPNR $ 362,837$ 495,561$539,714$602,583$666,560 Adjusted PPNR growth rate63.8%36.6%8.9%11.6%10.6% Net PPNR per share$5.00$6.25$6.84$7.60$8.80 Adjustments to PPNR per share$0.64$0.15$0.19$0.36$0.02 Adjusted Net PPNR per share$5.64$6.40$ 7.03$7.96$8.78 PPNR/share growth rate11.5%13.5%9.8%13.2%10.3% Income Statement –PPNR $0 $100 $200 $300 $400 $500 $600 $700 20172018201920202021 Adjusted PPNR 54 BHG Financials Strong equity to support business model Source: BHG Internal Data, unaudited. •Consistent quarterly performance throughout 2021 •Strong cash position, providing increased liquidity 55 ($'s in thousands) 4Q 20213Q 20214Q 2020 Interest Income72,528$ 57,401$ 28,321$ Interest Expense13,292 10,285 6,464 Provision for Loan Losses12,148 13,586 6,395 Net Interest Income After Provision for Loan Losses47,088 33,530 15,462 Gains on Loan Sales & Origination Fees129,512 134,558 105,033 Other Income4,699 202 5,331 Total Net Revenues181,299 168,290 125,826 Gross Revenues206,739 192,160 138,684 Salary and Benefits56,330 46,700 39,990 Marketing Expenses45,874 34,735 18,142 Portfolio Expenses5,085 4,777 3,356 Other Expenses17,154 18,798 13,978 Total Operating Expenses124,443 105,010 75,466 Net Earnings56,856$ 63,280$ 50,360$ Profitability Statistics Earnings to Gross Revenues27.50%32.93%36.31% Portfolio Mgmt Expense to Gross Revenues14.76%14.91%11.69% Operating Expenses to Gross Revenues57.73%52.16%52.00% *3Q 2021 Includes reclass from Other Income to Gains on Loan Sales & Originations Fees ($'s in thousands) At Dec 31, 2021 At Sep 30, 2021 At Dec 31, 2020 Cash and Cash Equivalents373,149 466,619 226,022 Loans Held for Investment2,051,137 1,704,918 746,667 Allowance for Loan Losses(46,673) (41,860) (20,748) Loans Held for Sale156,724 164,033 285,537 Premises and Equipment81,076 73,050 45,999 Other Assets109,127 76,545 46,840 Total Assets2,724,542$ 2,443,304$ 1,330,317$ Recourse Obligation207,311 231,435 280,240 Secured Borrowings1,612,423 1,461,750 630,981 Notes Payable364,997 275,476 21,178 Borrower Reimbursable Fee103,720 96,071 73,374 Other Liabilities66,805 46,033 82,361 2,355,256$ 2,110,765$ 1,088,135$ Equity (all Tangible)369,286 332,539 242,182 Total Liabilities & Stockholders Equity2,724,542$ 2,443,304$ 1,330,317$ Loans at Other Bank s4,143,489 4,083,914 3,666,391 Total Loans Outstanding6,147,954 5,746,971 4,392,309 Soundness Statistics: Cash to Assets13.70%19.10%16.99% Equity to Assets13.55%13.61%18.20% Recourse Obligation to Loans at Other Bank s5.00%5.67%7.64% Total Liabilities Income Statement Reconciliation of Non-GAAP Financial Measures 56 Income Statement Reconciliation of Non-GAAP Financial Measures 57 2022 Peer Group 58 Institution NameTickerCity, State Pinnacle Financial Partners, Inc.PNFPNashville, TN Comerica Inc. CMADallas, TX First Horizon Corp. FHNMemphis, TN Zions Bancorp. NAZIONSalt Lake City, UT Synovus Financial Corp.SNVColumbus, GA Cullen/Frost Bankers, Inc.CFRSan Antonio, TX Wintrust Financial CorporationWTFCRosemont, IL Valley National BancorpVLYNew York, NY South State CorporationSSBWinter Haven, FL F.N.B. CorporationFNBPittsburgh, PA UMB Financial CorporationUMBFKansas City, MO Prosperity Bancshares, Inc.PBHouston, TX PacWest BancorpPACWBeverly Hills, CA Hancock Whitney CorporationHWCGulfport, MS Bank United Inc.BKUHouston, TX Commerce Bancshares, Inc.CBSHKansas City, MO Associated Banc-corpASBGreen Bay, WI Umpqua Holdings CorporationUMPQPortland, OR Cadence BankCADETupelo, MS United Bankshares Inc. UBSICharleston, WV Fulton Financial CorporationFULTLancaster, PA Bank OZKOZKLittle Rock, AR Simmons First National CorporationSFNCPine Bluff, AR Investor Call FOURTH QUARTER 2021 M. TERRY TURNER, PRESIDENT AND CEO HAROLD R. CARPENTER, EVP AND CFO

Investor Call THIRD QUARTER 2022 M. TERRY TURNER, PRESIDENT AND CEO HAROLD R. CARPENTER, EVP AND CFO October 19, 2022 Time: 8:30 AM CT Webcast: www.pnfp.com(investor relations) Safe Harbor Statements Forward Looking Statements All statements, other than statements of historical fact, included in this presentation, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The words "expect," "anticipate," "intend," "may," "should," "plan," "believe," "seek," "estimate" and similar expressions are intended to identify such forward- looking statements, but other statements not based on historical information may also be considered forward-looking statements. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could cause the actual results to differ materially from the statements, including, but not limited to:(i) deterioration in the financial condition of borrowers of Pinnacle Bank and its subsidiaries or BHG, including as a result of the negative impact of inflationary pressures on our and BHG's customers and their businesses resulting in significant increases in loan losses and provisions for those losses and, in the case of BHG, substitutions; (ii) fluctuations or differences in interest rates on loans or deposits from those that Pinnacle Financial is modeling or anticipating, including as a result of Pinnacle Bank's inability to better match deposit rates with the changes in the short-term rate environment, or that affect the yield curve; (iii) adverse conditions in the national or local economies including in Pinnacle Financial'smarkets throughout Tennessee, North Carolina, South Carolina, Georgia, Alabama and Virginia,particularly in commercial and residential real estate markets; (iv) the inability of Pinnacle Financial, or entities in which it has significant investments, like BHG, to maintain the long-term historical growth rate of its, or such entities', loan portfolio; (v) the ability to grow and retain low-cost core deposits and retain large, uninsured deposits, including during times when Pinnacle Bank is seeking to limit the rates it pays on deposits; (vi) changes in loan underwriting, credit review or loss reserve policies associated with economic conditions, examination conclusions, or regulatory developments; (vii) effectiveness of Pinnacle Financial'sasset management activities in improving, resolving or liquidating lower-quality assets; (viii) the impact of competition with other financial institutions, including pricing pressures and the resulting impact on Pinnacle Financial’sresults, including as a result of compression to net interest margin; (ix) the effects of new outbreaks of COVID-19, including actions taken by governmental officials to curb the spread of the virus, and the resulting impact on general economic and financial market conditions and on Pinnacle Financial'sand its customers' business, results of operations, asset quality and financial condition; (x) the efficacy of vaccines againstthe COVID-19 virus, including new variants; (xi) the results of regulatory examinations; (xii) Pinnacle Financial'sability to identify potential candidates for, consummate, and achieve synergies from, potential future acquisitions; (xiii) difficulties and delays in integrating acquired businesses or fully realizing costs savings and other benefits from acquisitions; (xiv) BHG's ability to profitably grow its business and successfully execute on its business plans; (xv) risks of expansion into new geographic or product markets; (xvi) any matter that would cause Pinnacle Financial to conclude that there was impairment of any asset, including goodwill or other intangible assets; (xvii) the ineffectiveness of Pinnacle Bank's hedging strategies, or the unexpected counterparty failure or hedge failure of the underlying hedges; (xviii) reduced ability to attract additional financial advisors (or failure of such advisors to cause their clients to switch to Pinnacle Bank), to retain financial advisors (including as a result of the competitive environment for associates) or otherwise to attract customers from other financial institutions; (xix) deterioration in the valuation of other real estate owned and increased expenses associated therewith; (xx) inability to comply with regulatory capital requirements, including those resulting from changes to capital calculation methodologies, required capital maintenance levels or regulatory requests or directives, particularly if Pinnacle Bank's level of applicable commercial real estate loans were to exceed percentage levels of total capital in guidelines recommended by its regulators; (xxi) approval of the declaration of any dividend by Pinnacle Financial'sboard of directors; (xxii) the vulnerability of Pinnacle Bank's network and online banking portals, and the systems of parties with whom Pinnacle Bank contracts, to unauthorized access, computer viruses, phishing schemes, spam attacks, human error, natural disasters, power loss and other security breaches; (xxiii) the possibility of increased compliance and operational costs as a result of increased regulatory oversight (including by the Consumer Financial Protection Bureau), including oversight of companies in which PinnacleFinancial or Pinnacle Bank have significant investments, like BHG, and the development of additional banking products for Pinnacle Bank's corporate and consumer clients; (xxiv) the risks associated with Pinnacle Financial and Pinnacle Bank being a minority investor in BHG, including the risk that the owners of a majority of the equity interests in BHG decide to sell the company or all or a portion of their ownership interests in BHG (triggering a similar sale by Pinnacle Financial and Pinnacle Bank); (xxv) changes in state and federal legislation, regulations or policies applicable to banks and other financial service providers, like BHG, including regulatory or legislative developments; (xxvi) fluctuations in the valuations of Pinnacle Financial'sequity investments and the ultimate success of such investments; (xxvii) the availability of and access to capital; (xxviii) adverse results (including costs, fines, reputational harm, inability to obtain necessary approvals and/or other negative effects) from current or future litigation, regulatory examinations or other legal and/or regulatory actions, including as a result ofPinnacle Bank's participation in and execution of government programs related to the COVID-19 pandemic; and (xxix) general competitive, economic, political and market conditions. Additional factors which could affect the forward lookingstatements can be found in Pinnacle Financial'sAnnual Report on Form 10-K for the year ended December 31, 2021, and subsequently filed Quarterly Reports on Form 10-Q and Current Reports on Form 8-K filed with the SEC and available on the SEC's website at http://www.sec.gov. Pinnacle Financial disclaims any obligation to update or revise any forward-looking statements contained in this presentation, which speak only as of the date hereof, whether as a result of new information, future events or otherwise. 2 Safe Harbor Statements Non-GAAP Financial Matters This presentation contains certain non-GAAP financial measures, including, without limitation, earnings per diluted common share, PPNR, efficiency ratio and the ratio of noninterest expense to average assets, excluding in certain instances the impact of expenses related to other real estate owned, gains or losses on sale of investment securities, FHLB restructuring charges, hedge termination charges and other matters for the accounting periods presented. This presentation also includes non-GAAP financial measures which exclude the impact of loans originated and forgiven and repaid under the PPP. This presentation may also contain certain other non-GAAP capital ratios and performance measures that exclude the impact of goodwill and core deposit intangibles associated with Pinnacle Financial's acquisitions of BNC, Avenue Bank, Magna Bank, CapitalMarkBank & Trust, Mid-America Bancshares, Inc., Cavalry Bancorp, Inc. and other acquisitions which collectively are less material to the non-GAAP measure as well as the impact of Pinnacle Financial'sSeries B Preferred Stock. The presentation of the non-GAAP financial information is not intended to be considered in isolation or as a substitute for any measure prepared in accordance with GAAP. Because non-GAAP financial measures presented in this presentation are not measurements determined in accordance with GAAP and are susceptible to varying calculations, these non-GAAP financial measures, as presented, may not be comparable to other similarly titled measures presented by other companies. Pinnacle Financial believes that these non-GAAP financial measures facilitate making period-to-period comparisons and are meaningful indications of its operating performance. In addition, because intangible assets such as goodwill and the core deposit intangible, and the other items excluded each vary extensively from company to company, Pinnacle Financial believes that the presentation of this information allows investors to more easily compare Pinnacle Financial'sresults to the results of other companies. Pinnacle Financial'smanagement utilizes this non-GAAP financial information to compare Pinnacle Financial'soperating performance for 2022 versus certain periods in 2021 and to internally prepared projections. 3 3Q22 Financial Dashboard Key success measures including earnings per share growth, revenue growth, tangible book value accretion, core loan growth, net interest income growth, and asset quality all continue to be strong. 4 NCOs Classified Asset Ratio NPA/ Loans & ORE Shareholder Value Dashboard 3Q22 Summary Results of Key GAAPMeasures 5 PNFP’s Median Quarterly Performance of 0.40% PNFP’s Median Quarterly Performance of 0.10% PNFP’s Median Quarterly Performance of 11.2% Total Revenues FD EPS Net Income Available to Common Shareholders Total Loans (millions) Total Deposits (millions) Book Value per Common Share FD EPS* CAGR 11.7% 3Q22 AGR 10.8% Classified Asset Ratio NCOs NPA/ Loans & ORE Tangible Book Value per Share** Total Loans (millions) Adjusted Pre-Tax Pre-Provision Net Income* Total Revenues* CAGR 14.2% 3Q22 AGR 21.0% Total Core Deposits (millions) *: excluding merger-related charges, gains and losses on sales of investment securities, ORE expense (income), loss on sale of non-prime automobile portfolio, branch rationalization charges, FHLB restructuring charges and hedge termination charges. PPNR represents pre-tax, pre-provision net revenues. **: excluding goodwill, core deposit and other intangible assets Note: For a reconciliation of these Non-GAAP financial measures to the comparable GAAP measures, see slides 57-59. CAGR 11.8% 3Q22 AGR 20.9% CAGR 16.7% 3Q22 AGR 9.8% CAGR 12.5% 3Q22 AGR 3.4% CAGR 13.7% 3Q22 AGR 34.8% 6 PNFP’s Median Quarterly Performance of 11.2% PNFP’s Median Quarterly Performance of 0.10% PNFP’s Median Quarterly Performance of 0.40% Shareholder Value Dashboard 3Q22 Summary Results of Key Non-GAAPMeasures Client Acquisition Strategies Are Yielding Results Loan growth is a result of successful execution of several growth strategies 7 Net Loan Growth –YTD 2022 –Strategic Decisions: •Asset Generators -$224 million •BHG, JBB and Advocate Capital •Strategic Expansion -$1.39 billion •ATL, DC, B’ham, H’ville, Franchise Finance, Equipment Finance, etc. •Recruiting Impact -$1.08 billion •New RMs hired in past 2.5 years other than in our strategic market expansions •Legacy market growth still the largest component -$1.96 billion Note:Strategic expansion volumes include certain loans that are recorded in the various geographies (as detailed on slide 29) but for illustration purposes above are included as Strategic Expansion loans due to the relationship managers being assignedtoa specialty lending unit. 8 As of 9/30/2022 MarketMonths since Launch HeadcountRevenue Producers Loan Commitments (in millions) Loan Outstandings (in millions) Deposits (in millions) Georgia344627$1,455$773$442 Alabama153018$570$410$341 National Capital102415$217$90$71 Specialty Lending215538$2,397$1,495$653 Balance Sheet Momentum Should Persist We are able to capitalize on disruption in our markets to attract associates and clients 9 StateOverall State Y-Y Growth % Pinnacle Y-Y Growth % Tennessee4.2%13.9% North Carolina9.4%12.9% South Carolina8.7%11.1% Virginia10.7%21.0% Georgia10.0%154.6% Deposit Market Share Ability to Take Deposit Share Bodes Well for Funding Growth Assuming M2 contracts, the only mechanism for growth is market share take away Source: FDIC.gov Note: Deposit market share as of June 30, 2022 10 Small Business Net Promoter Score ($1-10MM in sales) PromotersPassivesDetractors Note: Net Promoter Score equals Promoters minus Detractors. Evaluations are based on a 0-10 scale, “0” not at all likely to “10”extremely likely. Promoter = 9,10; Passive = 7,8; Detractor = 0-6. Question: How likely are you to recommend (Lead Provider) to a friend or colleague using a scale of 0-10 where "0" means Not At All Likely and "10" means Extremely Likely? Source: 2022 Coalition Greenwich Associates Market Tracking Program (Pinnacle Financial –Total Footprint -$1-500MM –Q2 2022 R4Q -Banking). 44% 44% 32% 72% 50% 76% 33% 32% 32% 20% 36% 22% 24% 24% 36% 8% 14% 0%10%20%30%40%50%60%70%80%90%100% Large Regional AQ2 2022 National AQ2 2022 National BQ2 2022 Large Regional BQ2 2022 Large Regional CQ2 2022 Pinnacle FinancialQ2 2022 20 20 -4 64 36 74 Net Promoter Middle Market Net Promoter Score ($10-500MM in sales) 46% 46% 27% 69% 57% 81% 36% 36% 47% 23% 36% 19% 18% 17% 26% 9% 7% 0%10%20%30%40%50%60%70%80%90%100% 28 29 1 60 50 81 Net Promoter Large Regional AQ2 2022 National AQ2 2022 National BQ2 2022 Large Regional BQ2 2022 Large Regional CQ2 2022 Pinnacle FinancialQ2 2022 Culture and Talent Attraction Create Raving Fans Raving fans fuel meaningful growth in share 11 Small Business Momentum ($1-10MM in Sales) At Risk of Losing BusinessExpect to Earn More Business Question: Of the banks you use, which of your banks are most at risk of losing share of your banking business over the next 6-12months? Which banks do you expect to gain a larger share of your banking business in the next 6-12 months? Source: 2022 Coalition Greenwich Associates Market Tracking Program (Pinnacle Financial –Footprint -$1-$500mm –Q2 2022 R4Q –Banking.) -18% -19% -22% -16% -16% -5% 24% 27% 15% 28% 24% 46% -30%-20%-10%0%10%20%30%40%50% Large Regional A National A National B Large Regional B Large Regional C Pinnacle Financial Q2 2022 Q2 2022 Q2 2022 Q2 2022 Q2 2022 Q2 2022 6% 8% -7% 12% 8% 41% Net 3% 0% -8% 22% 6% 29% Net Q2 2022 Q2 2022 Q2 2022 Q2 2022 Q2 2022 Q2 2022 -19% -18% -21% -10% -16% -2% 22% 18% 13% 32% 22% 31% -30%-20%-10%0%10%20%30%40%50% Large Regional A National A National B Large Regional C Large Regional D Pinnacle Financial Middle Market Business Momentum ($10 -$500MM in sales) Culture and Talent Attraction Create Raving Fans Raving fans fuel meaningful growth in share 3Q22 Financial Information 3Q22 financial results reflect PNFP’s continued success in seizing the opportunity to gather valuable talent and clients from vulnerable competitors. In spite of the current rising rate environment, loan and client deposit growth were substantial in the third quarter, as was net interest income. 12 PNFP Linked-Quarter Annualized Average Loan Growth was 25.6% in 3Q22 Linked-quarter annualized average loan growth ex-PPP was 26.6%* Average Loan Growth and Loan Yields 13 3Q22 Loan Highlights •EOP linked-quarter annualized loan growth of 21.6% excluding decline in PPP. •Estimating low 20% EOP loan growth for FY 2022 given current economic conditions, recent hires and momentum in our new markets. •Estimate cumulative loan beta will settle around 60% for 2022. Current planning assumption of Fed funds terminal rate of 4.5% by y/e 2022. 13.3% 11.7% 4.2% 11.7% 27.0% 0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 30.0% EOP Loan Growth^ ^: Excludes PPP loans *: YTD Annualized $8,558 $9,817 $15,017 $15,520 $15,957 $16,730 $17,259 $17,630 $17,938 $18,611 $19,217 $19,600 $20,009 $22,257 $22,493 $22,525 $22,848 $23,180 $22,986 $23,226 $23,849 $25,397 $27,021 4.49% 4.73% 3.20% 3.40% 3.60% 3.80% 4.00% 4.20% 4.40% 4.60% 4.80% 5.00% 5.20% 5.40% $2,000 $4,000 $6,000 $8,000 $10,000 $12,000 $14,000 $16,000 $18,000 $20,000 $22,000 $24,000 $26,000 $28,000 Loan Yields Average Loans (millions) 50% 34% 52% 59% 61% 60%60% 0% 25% 50% 75% Individual Rate Hike Beta Trends for Loans Cumulative Loan Beta – Estimatedat 60% for 2022 Deposit Growth Rebounded in Third Quarter Seasonal tailwinds and new hire momentum drove 9.8% linked-quarter annualized core deposit growth 14 3Q22 Deposit Highlights •Experienced strong deposit growth during the quarter. Average total deposits up 20.6% linked quarter annualized. EOP core deposit growth increased to 9.8% linked-quarter annualized in 3Q22. •Average noninterest-bearing deposits up slightly Q/Q while quarter end noninterest bearing deposits declined to $10.6B •Avg. deposit costs increased from 0.23% to 0.66% for the quarter. On-the-spot deposit rates approximated 1.06% at Sept. 30, 2022. Estimating 40% deposit beta as we close 2022. Deposit RateTranches Sep. 30, 2021 EOP Rates Jun. 30, 2022 EOP Rates Sep. 30, 2022 EOP Rates Sep 30, 2022 % of Totals Noninterestbearing---------31.4% Interest-bearing: Rate sheet 0.05%0.44%1.16%25.7% Negotiated 0.22%0.58%1.38%23.1% Indexed 0.27%1.54%2.91%11.3% CDs 0.56%0.91%1.38%8.5% TotalIBD 0.22%0.67%1.55%68.6% Total 0.15%0.44%1.06%100.0% $9,099 $10,394 $15,828 $16,092 $16,281 $16,949 $18,113 $18,368 $18,358 $18,865 $19,778 $20,079 $20,680 $24,807 $26,352 $27,193 $27,621 $28,014 $28,740 $30,034 $31,539 $31,484 $33,108 0.66% 0.00% 0.25% 0.50% 0.75% 1.00% 1.25% 1.50% $2,000 $6,000 $10,000 $14,000 $18,000 $22,000 $26,000 $30,000 $34,000 Deposit Costs Average Deposits (millions) Average Deposit Growth Avg. DepositsCost of Deposits 8% 24% 29% 35% 44% 48% 52% 0% 25% 50% 75% Individual Rate Hike Beta Trends for Total Deposits Cumulative Deposit Beta – Estimated at 40% for 2022 Excess Liquidity Remains Available to Fund Loan Growth Asset mix normalization wasa NIM tailwind in 3Q 3Q22 Liquidity Highlights •30 bps in NIM expansion in 3Q compared to 28 bps in 2Q •Average FFS, IB cash & Repo balances decreased to 6.7% of earning assets in 3Q22 compared to 7.7% in 2Q22 and 2.7% in pre-pandemic 1Q20. •30% of securities portfolio is now floating rate up from 24% a year ago, resulting in increasing yields. •HTM classification, along with floating rate securities, results in approximately 63% of portfolio protected from interest rate valuation adjustments. *Adjusted NIM excludes the impact of liquidity build and the PPP lending programs. See slides 43-52 for a reconciliation of reported NIM to adjusted NIM. 15 3.28% 2.87% 2.82% 2.97% 3.02% 3.08% 3.03% 2.96% 2.89% 3.17% 3.47% 3.19% 3.22% 3.27% 3.29% 3.25% 3.21% 3.20% 3.18% 3.29% 3.56% 2.70% 2.80% 2.90% 3.00% 3.10% 3.20% 3.30% 3.40% 3.50% 3.60% 3.70% 1Q202Q203Q204Q201Q212Q213Q214Q211Q222Q222Q22 Reported NIM vs. Adjusted NIM NIM (GAAP)NIM (Adjusted)* 2.00% 2.25% 2.50% 2.75% 3.00% 3.25% $3,000 $3,500 $4,000 $4,500 $5,000 $5,500 $6,000 $6,500 $7,000 1Q202Q203Q204Q201Q212Q213Q214Q211Q222Q223Q22 Average Quarterly Yield Average Blalances ($ in millions) Quarterly Avg. Securities Avg. SecuritiesYield 0.00% 0.25% 0.50% 0.75% 1.00% 1.25% 1.50% 1.75% 2.00% 2.25% 2.50% $0 $500 $1,000 $1,500 $2,000 $2,500 $3,000 $3,500 $4,000 $4,500 $5,000 1Q202Q203Q204Q201Q212Q213Q214Q211Q222Q223Q22 Average Quarterly Yield Average Balances ($ in millions) Quarterly Avg. FFS, IB Cash & Repos Avg. FFS, IB Cash & ReposYield PNFP’s Asset Quality Has Continued to Hold Up Asset quality metrics remain at historically low levels 16 3Q22 Asset Quality Highlights •Client selection remains our most valuable credit attribute •ACL to total loans increased to 1.04%. •Credit officers more diligent on stress testing given economic climate and more active in segment monitoring and concentration limits, particularly in Construction and CRE. 0.10%0.10% 0.23% 0.16%0.16% Net Charge-offs 0.55% 0.53% 0.40% 0.24% 0.15% NPA/ Loans & ORE 13.7% 13.5% 9.9% 5.6% 2.6% Classified Asset Ratio 0.25% 0.24% 0.11% 0.09% 0.13% Past Dues as a % of Total Loans Land / Spec A&D Malls, Big Box Retail High Rise Apartments & Condo’s Hospitality Office Student Housing Senior Housing Self-Storage Retail –Grocery Store Anchored Retail –Build to Suit 1-4 Resi. Pre-Sold Medical Office Multifamily Industrial/Warehouse CRE Appetite by Segment 3Q222Q223Q21 Linked-Quarter Annualized Growth % Year-over-Year Growth % Service charges $10,906$11,616$11,435 (24.4%)(4.6%) Investment services 10,78013,2059,648 (73.5%)11.7% Trust fees 5,7066,0655,049 (23.7%)13.0% Insurance commissions 2,9282,5542,557 58.6%14.5% Gain on mortgage loans sold, net 1,1172,1507,814 (>100%)(85.7%) Investment gains, net217-- NMNM Income from equity method investment (BHG)41,34149,46530,409 (65.7%)35.9% Other: Interchange and other consumer fees17,64219,21615,298 (32.8%)15.3% Bank-owned life insurance5,6585,1244,741 41.7%19.3% Loan swap fees1,1871,6681,579 (>100%)(24.8%) SBA loans sales 1,5761,5623,814 3.6%(58.7%) Income from other equity investments7256,6698,604 (>100%)(91.6%) Other5,0226,2083,147 (76.4%)59.6% Total noninterest income$104,805$125,502$104,095 (66.0%)0.7% Noninterest income/Average Assets1.03%1.30%1.15% (83.1%)(10.4%) Adjusted noninterest income**$104,588$125,502$104,095 (66.7%)0.5% Adjusted noninterest Income**/Total Avg. Assets 1.03%1.30%1.15% (83.1%)(10.4%) Adjusted noninterest Income**/Total Avg. Assets^ 1.03%1.30%1.18% (83.1%)(12.7%) **:Excluding gains and losses on sales of investment securities. For a reconciliation of these Non-GAAP financial measures to the comparable GAAP measures, see slides 57-59. ^: Excluding the impact of PPP loans on average assets PNFP Fees Decline After Substantial Fee Results Last Quarter PNFP continues focus on gathering more share of wallet from client base 17 •Service charges impacted by change in overdraft / NSF fee assessment policies. •Wealth management groups were negatively impacted by market volatility. •Residential mortgage business is negatively impacted by an increase in interest rates, housing costs increases and reductions in inventories. •Income from BHG remains strong. Year-over-year revenues up more than 35%. •Other noninterest income for 3Q22 includes declines in income from other equity-method investments. *:Excluding the impact of ORE expense (income). **: Excluding the impact of ORE expense (income) and securities gains and losses, net. For a reconciliation of these Non-GAAP financial measures to the comparable GAAP measures, see slide 57-59. Investing in New Markets / Talent Drive Expense Growth Incentive expenses fluctuations positively correlate with earnings 18 3Q222Q223Q21 Linked-Quarter Annualized Growth % Year-over-Year Growth % Salaries and employee benefits: Salaries$74,776$70,405$61,382 24.8%21.8% Commissions6,1886,3536,097 (10.4%)1.5% Cash and equity incentives 30,74731,80830,169 (13.3%)1.9% Employee benefits and other18,19918,04514,758 3.4%23.3% Total salaries and benefits$129,910$126,611$112,406 10.4%15.6% Equipment and occupancy 27,88626,92123,71214.3%17.6% Other real estate, net (90)86(79)(>100%)13.8% Marketing and other business development 4,9584,7593,32516.7%49.1% Postage and supplies 2,7952,3202,08381.9%34.2% Amortization of intangibles 1,9512,0512,088(19.5%)(6.6%) Other noninterest expense: Deposit related expense6,6897,3115,754 (34.0%)16.2% Lending related expense13,22414,74410,137 (41.2%)30.5% Wealth management expense590630464 (25.4%)27.2% Other noninterest expense11,34010,6058,96127.7%26.5% Total$31,843$33,290$25,316 (17.4%)25.8% Total noninterest expense$199,253$196,038$168,851 6.6%18.0% Efficiency ratio48.5%50.3%49.4% (14.3%)(1.8%) Expense/Total Average Assets1.95%2.03%1.87% (15.8%)4.3% Adjustednoninterest expense *$199,343$195,952$168,930 6.9%18.0% Efficiency ratio ** 48.6%50.2%49.5% (12.7%)(1.8%) Adjustednoninterest expense*/Total avg. assets1.95%2.03%1.87% (15.8%)4.3% Headcount (FTE)3,184.53,074.02,769.5 14.4%15.0% •Salary and benefit costs increase from the same quarter last year reflects the impact of 15+% increase in FTEs. •Revenue producer hires at 118 in first nine months of 2022 compared to 93 in 2021. •Anticipated cash incentives for 3Q22 increased over 3Q21 in anticipation of maximum payouts in relation to target awards as YTD 2022 earnings remain strong. Preservation and Growth in Tangible Book Value Remains a Critical Focus Third quarter reflects growth in TBV/Share year-over-year 15.0% 19.0% 14.8% 14.2% -0.3% 2018 2019 2020 2021 YTD 2022 Focused on preserving and growing TBV per common share **: excluding goodwill, core deposit and other intangible assets Note: For a reconciliation of these Non-GAAP financial measures to the comparable GAAP measures, see slides 57-59. Peer group noted on slide 60. 19 •Dividends – •Dividends per common share of $0.22 in 3Q22. •Share Buy Back Program – •Board authorized a $125.0 million plan on January 18, 2022to commence when prior plan expired on March 31, 2022; new plan approved through March 31, 2023; no shares repurchased YTD in 2022 or anticipated to be repurchased this year under the most recent authorization. •Tangible Book Value per Common Share Growth – •Tangible book value per common share at Sept. 30, 2022up 3.6% from Sept. 30, 2021. •Tangible book value down year-to-date 2022 due in large part to a downward market value adjustment of approximately $342 million on the firm’s available-for-sale investment securities portfolio as a result of rising rates. •Change in tangible book value per common share in comparison to peers added as a performance component to leadership equity compensation plan in 2021 and remains a component in 2022. •Potential Capital Actions – •To support our anticipated growth, evaluating a Holdco debt raise to supplement Tier II capital ratios. $26.21 $31.60 $35.68 $40.98 $42.44 Tangible Book Value per Common Share** Bankers Healthcare Group BHG’s differentiated model has proven very resilient with continued strong originations, loan sales and yield/spread premium. The gain on sale model continues to provide meaningful earnings to BHG and to Pinnacle even as BHG has increased the mix toward balance sheet spread income via securitizations. Capital and reserve levels support a very sound balance sheet. 20 BHG Business Model Drives Outperformance •3Q22 was the 9th consecutive record origination quarter in the history of BHG •Net interest spreads (~10%+) have been resilient for several years in spite ofinterest rate fluctuations. BHG largely maintained its historical spreads in Q3 by increasing gross coupons >100bps and holding the increase bank buy rates below market trends •BHG’s vast bank funding platform continues to provide ready liquidity and differentiates BHG from other online lenders Source: BHG Internal Data –charts exclude impact of PPP and SBA loans originated by BHG. Furthermore, borrower coupon rates include all loans originated by BHG including loans retained by BHG on balance sheet as well as loans sold to other banks. BHG remains on pace for another record year of originations in 2022 BHG continues to originate loans at record levels while maintaining strong yields 13.5% 13.8% 13.9% 13.6%13.6% 13.4% 13.9% 13.9% 14.0% 14.2% 15.5% 5.2% 5.6% 4.9% 4.3% 4.0% 3.7% 3.4% 3.2% 3.1% 4.4% 5.8% 0% 2% 4% 6% 8% 10% 12% 14% 16% 1Q202Q203Q204Q201Q212Q213Q214Q211Q222Q223Q22 Borrower CouponBank Buy Rate - 200 400 600 800 0 200 400 600 800 1,000 1,200 1,400 1,600 20172018201920202021TTM Bank Network Trends Total Banks in NetworkUnique Buyers Total Banks in Network Unique Buyers Each Period 21 $429 $375 $452 $528 $628 $714 $727 $739 $855 $1,054 $1,165 $381 $387 $400 $388 $443 $393 $383 $377 $343 $658 $555 $0 $200 $400 $600 $800 $1,000 $1,200 $1,400 1Q202Q203Q204Q201Q212Q213Q214Q211Q222Q223Q22 OriginationsPlacements Loan Originations and Placements Coupon and Buy Rates •Estimated Accrual increased to ~5.28% of total loans outstanding (loans sold to other banks) after considering the potential impact of current macroeconomic pressures. BHG Credit Quality Continues to Impress Sophisticated credit scoring models produce impressive results Accrual for loan subs and prepayments (Note) (Green Bars –Balance of loans in bank network, $s in millions) Note: Accrual is a liability on BHG’s balance sheet set aside to cover losses attributable to acceptance of substitutions from loans previously sold to banks in the BHG network. Source: BHG Internal Data BHG’s On Balance Sheet Reserves Remain Strong BHG increased their accrual for loan substitutions in 2Q22 and again in 3Q22 22 4.20% 3.79% 3.73% 3.22% 3.74% 4.56% 4.71% 4.62% 7.64% 5.00% 5.28% $- $500 $1,000 $1,500 $2,000 $2,500 $3,000 $3,500 $4,000 $4,500 $5,000 0.00% 1.00% 2.00% 3.00% 4.00% 5.00% 6.00% 7.00% 8.00% 9.00% 20122013201420152016201720182019202020213Q22 Total Ending Balance at outside banks only ($millions)Recourse Obligation as a % of Outstanding 3.79% 2.94% 2.95% 1.83% 2.68% 3.25% 2.72% 2.47% 2.87% 2.51% 1.82% 0.25% 0.36% 0.33% 0.58% 0.99% 1.30% 1.45% 1.16% 1.38% 2.13% 2.18% 4.04% 3.31% 3.28% 2.40% 3.66% 4.55% 4.17% 3.64% 4.26% 4.64% 4.00% 0.00% 1.00% 2.00% 3.00% 4.00% 5.00% 6.00% Substitution and Prepayment Losses as % of Sold Loan Balances Credit Loss %Prepayment Loss % •FICO scores continue to reflect a high caliber borrower base •Average FICO scores of 733 at origination for loans outstanding at Sep 30, 2022 •Weighted average annual income of BHG borrower base approximates $287,000. •Historical credit results indicate that 70% of losses occur within first 36 months of origination •Data is through Sep 30, 2022. Steady improvement in credit over past 7-8 years. BHG Credit Quality Continues to Impress Sophisticated credit scoring models produce impressive results Historical FICO Scores Source: BHG Internal Data BHG’s Strong Credit Quality Remains a Differentiator Vintage analysis demonstrates continued strength in asset quality 23 0%10%20%30%40%50%60%70%80%90%100% 2022 2020 2018 2016 2014 2012 2010 2008 2006 2004 2002 <650650-699700-749750-799>800 BHG Revises YOY Growth to >25% in 2022 Alternative revenue channels remain in pipeline Other 3Q22 Highlights •Closed $412mm BHG 2022-C securitization in September. •Fitch/KBRA rated AAA on Class A (39%), all classes IG •Borrowers -WAR 15.02%. Avg. Balance $86.7K. WA Fico 735. •Securitization WAR of 7%, exclusive of servicing fees of ~1.03% •KBRA upgraded rating for Class A of 2021-A (Sept ’22) to AAA •Now all Sr. tranches of past six transactions rated AAA •All tranches rated investment grade •More than $2 billion in cumulative securitization volume across six deals through the ABS market BHG Future Growth opportunities •Deeper penetration for Core Product, < 1% of market share currently •Expansion of credit card platform to medical and other professionals as well as potential alliances with Banks and other FinTechs •Launched POS for elective medical procedures as well as other retail and home improvement financing outlets •White label consumer lending platform with Bank Network •Leverage partnership with Pinnacle to develop deposit products for medical and other professionals 24 $77 $104 $183 $172 $241 $0 $100 $200 $300 $400 201720182019202020212022 (fc) BHG Pre-Tax Earnings ($ millions) BHG estimates pre-tax earnings growth in 2022 of >25% $711 $873 $1,449 $1,785 $2,808 $0 $500 $1,000 $1,500 $2,000 $2,500 $3,000 $3,500 $4,000 201720182019202020212022 (fc) BHG Loan Originations ($ billions) BHG estimates loan origination growth in 2022 of >50% PNFP Remains Optimistic about 2022 We remain confident in our model to produce outsized revenue and earnings growth 2022 Outlook –as of October 18, 2022 (Note) Y/Y End of Period Loan Growth•We anticipate low 20s percentage loan growth for 2022 end-of-year balances over 2021 year-end levels. Y/Y End of Period DepositGrowth•We anticipate 2022 end-of-year balances will produce high-single digit percentage growth when compared to 2021 end-of-year balances. Net interest income•GAAP net interest income growth for 2022 is estimated to be low 20s percentage growth from 2021 primarily due to increases in rates and volumes in 2022. Our planning assumption contemplates a federal funds rate of approximately 4.50% by year end 2022. Fee income•We estimate that fee growth should approximate high-single digit percentage growth for those categories of non-interest income other than income we receive from BHG and from our other equity investments, which we are not forecasting given the uncertainty with respect to amounts and timing of any such income. We estimate fee income from BHG will grow by at least 25% in FY22 over FY21 levels. Expenses•We plan to continue to aggressively recruit the best revenue producers in our markets which would also require increased infrastructure support. As a result, inclusive of increased incentive accruals and the addition of JB&B, we anticipate total expenses in 2022 to approximate high-teens percentage increases in 2022 over 2021. Asset quality•Thus far, our asset quality measurements remain solid as we enter 4Q22. We believe our ACL in relation to total loans is likely to approximate our 3Q22 results. Our planning assumption is that net charge-offs in 4Q will be consistent with 3Q. 25 Note: 2022 outlook is based on current facts and circumstances. Our outlook is subject to change based on numerous factors whichmay require us to change our outlook at any time. These factors may include, among the other risks described herein, changes in operating strategy, balance sheet positioning or macroeconomic factors such as significant changes in interest rates from those we are modeling. See slide 2 of these materials for more information. Q&A THIRD QUARTER 2022 26 Supplemental Information Slide # •Balance Sheet28 •Income Statement53 •Peer Group60 27 Balance Sheet –Loan Portfolio Segments ($ in millions)Amts. 3Q22 % 3Q22 Amts. 2Q22 % 2Q22 Amts. 3Q21 % 3Q21 Amts. 3Q20 % 3Q20 C&I $9,738.335.1%$9,244.735.1%$7,079.430.7% $6,144.927.4% C&I –Paycheck Protection Program 10.70.0%51.10.2%708.73.1% 2,251.010.0% CRE –Owner Occ. 3,426.312.4%3,243.012.3%2,954.612.8% 2,748.112.2% Total C&I & O/O CRE $13,175.347.5%$12,538.847.6%$10,742.746.6% $11,144.049.6% CRE –Investment 5,122.118.5%4,909.618.6%4,597.720.0% 4,648.520.7% CRE –Multifamily and other 1,042.93.8%952.03.6%621.52.7% 572.02.6% C&D and Land 3,549.012.8%3,386.912.9%3,097.013.4% 2,728.412.1% Total CRE & Construction $9,714.035.1%$9,248.535.1%$8,316.236.1% $7,948.935.4% Consumer RE 4,271.915.4%4,047.115.4%3,540.415.3% 3,041.013.5% Consumer and other 550.52.0%498.81.9%459.22.0% 343.51.5% Total Other $4,822.417.4%$4,545.817.3%$3,999.617.3% $3,384.515.0% Total loans $27,711.7100.0%$26,333.1100.0%$23,058.5100.0% $22,477.4100.0% 28 ($ in millions) TOTAL PINNACLEC&I & O/O CRECRE & CONSTRUCTIONOTHER LOANS* Amts. 3Q22 Amts. 3Q21 Amts. 3Q22 Amts. 3Q21 Amts. 3Q22 Amts. 3Q21 Amts. 3Q22 Amts. 3Q21 Nashville $7,998.3$6,846.4$3,551.9$3,022.4$2,829.2$2,510.2$1,617.2$1,313.8 Knoxville 1,953.91,864.61,122.71,070.0430.8483.5400.4311.1 Chattanooga 1,719.91,543.11,021.1877.2344.4353.8354.4312.1 Memphis 1,944.71,619.11,065.6858.6516.8473.9362.3286.6 Huntsville 41.415.425.012.5(0.1)0.916.42.0 Birmingham 369.123.4336.123.423.9-9.1- Total Tennessee /AL $14,027.3$11,912.0 $7,122.5$5,864.1$4,145.0$3,822.3 $2,759.8$2,225.6 Greensboro/High Point 2,121.81,715.1754.4594.41,069.2870.3298.2250.4 Charlotte 3,036.52,433.7779.8574.21,713.31,413.0543.4446.5 Raleigh 1,663.31,407.4302.5249.11,222.81,015.8138.0142.5 Charleston 987.5853.2224.5194.3517.0420.7246.0238.2 Greenville 546.1422.6193.1117.5279.3245.173.760.0 Roanoke 710.1591.2307.5170.8289.1315.6113.5104.8 Washington, D.C. 89.8-59.5-28.4-1.9- SBA Lending Team 171.8142.3157.3127.412.413.92.11.0 Total Carolina/VA $9,326.9$7,565.5$2,778.6$2,027.7$5,131.5$4,294.4$1,416.8$1,243.4 Atlanta 772.4344.5377.4194.7322.7110.8 72.339.0 Specialty Lending* 1,494.4825.4 1,221.0679.8 88.611.2184.8134.4 Paycheck ProtectionProgram 10.7708.710.7708.7---- Other 2,080.01,702.41,665.11,267.726.277.5388.7357.2 Total $27,711.7$23,058.5$13,175.3$10,742.7$9,714.0$8,316.2 $4,822.4$3,999.6 Balance Sheet –Loan Portfolio –Market Segmentation Note: Percentages noted in red text represent year-over-year growth rates. *: Represents mortgage, associate banking, automobile finance and various other business lines. 29 Balance Sheet –Loan Portfolio –CRE Segmentation ($ in millions) Total NOO and MultifamilyTotal ConstructionTotal NOO and Construction Amts. 3Q22 Amts. 2Q22 Amts. 3Q21 Amts. 3Q22 Amts. 2Q22 Amts. 3Q21 Amts. 3Q22 Amts. 2Q22 Amts. 3Q21 Multifamily $1,071.3$996.4$609.2$848.4$819.4$761.2$1,919.7$1,815.8$1,370.4 Hospitality 785.2778.4830.912.921.783.9798.1800.1914.8 Retail 1,531.71,422.71,277.7250.3219.0168.71,782.01,641.71,446.3 Office 845.7850.5820.1259.5232.8199.71,105.21,083.31,019.8 Warehouse 866.9779.6700.2631.3600.3350.91,498.21,379.91,051.1 Medical 758.1713.9431.6160.0133.783.0918.1847.6514.5 Other 306.1320.1549.5$1,386.61,360.01,449.71,692.71,680.11,999.2 Total $6,165.0$5,861.6$5,219.2$3,549.0$3,386.9$3,097.0 $9,714.0$9,248.5$8,316.2 Average Ticket Size (in ‘000s) $2,259.7$2,185.2$1,933.3$763.9$725.9$672.5 $1,317.5$1,259.5$1,140.9 30 31 Rate IndexPortfolio Snapshot: End-of-PeriodWeighted Average Coupon Loan Originations: Quarterly Average Rate At Sep. 30, 2021 At Jun. 30, 2022 At Sep. 30, 2022 YOY Change As a % of Total Portfolio 3Q212Q223Q22 Origination Mix 3Q22 LIBOR/SOFR2.78%3.61%4.97%2.19%37.1%2.62%3.79%4.99%46.2% 1-MO LIBOR0.08%1.79%3.14%3.06%0.09%1.02%2.47% Prime3.76%4.93%6.42%2.66%16.3%3.35%4.99%6.51%18.3% FFS target0.25%1.75%3.25%3.00%0.25%0.96%2.39% T-Bill4.12%4.06%4.17%0.05%4.7%3.58%4.49%5.26%2.8% 5-YR UST0.96%3.04%4.09%3.13%0.80%2.95%3.23% FixedRate3.98%3.84%3.93%(0.05)%42.0%3.78%4.22%4.94%32.6% Total Loans*3.52%3.95%4.73%1.21%100.0%3.37%4.21%5.26%100.0% *Excludes leases, credit cards, PPP loans and loans HFS; loan yields consider contractual floors for individual loans but exclude the impact of other loan interest rate derivative products. Balance Sheet –Loan Pricing Information PPP Program was a Differentiator for Pinnacle Pinnacle provided needed stimulus to smaller businesses in 2020 and 2021 PPP Trends $(000’s) Average Balances Aggregate Yield Interest Income Accretion Income Total Revenues 2Q20$ 1,689,0332.89%$ 4,673$ 7,449$ 12,122 3Q20$ 2,235,2772.77%$ 5,795$ 9,760$ 15,555 4Q20$ 2,111,2824.64%$ 5,223$ 19,421$ 24,644 1Q21$ 2,064,8824.51%$ 5,167$ 17,788$ 22,955 2Q21$ 1,929,3635.47%$ 4,987$ 21,318$ 26,305 3Q21$ 983,4868.54%$ 2,711$ 18,464$ 21,175 4Q21$530,93011.56%$ 1,396$ 14,078$ 15,474 1Q22$255,63716.96%$ 667$ 10,172$ 10,839 2Q22$84,69819.23%$ 225$ 3,906$ 4,131 3Q22$28,18811.37%$ 76$ 732$ 808 •$10.7 million in PPP balances remain on balance sheet at Sept. 30, 2022 •Unamortized fees of $332.5m at Sept. 30, 2022to be recognized as loans are paid down or forgiven 32 ($000’s)2020 PPP2021 PPPTotals Total PPP fundings$ 2,483,177 $ 933,872$ 3,417,049 Total forgiveness, payoffs processed through Sept. 30, 2022 $ 2,479,744$ 926,582$ 3,406,326 Net PPP Balances at Sept. 30, 2022$ 3,433$ 7,290$ 10,723 Total fees for PPP fundings$ 77,431$ 46,021$ 123,452 Fee income recognized in prior years$ 77,203$ 31,108$ 108,311 Fee income recognized in 2022$ 221$ 14,588$ 14,809 Fees unrecognized$ 7$ 325$ 332 Total interest income recognized in 2022$ 145$ 823$ 968 Total fee income recognized in 2022$ 221$ 14,588$ 14,809 Total revenues from PPP in 2022$ 366$ 15,411$ 15,777 Balance Sheet –Loan Portfolio Lines of Credit ($'s in millions) 3/31/20216/30/20219/30/202112/31/20213/31/20226/30/20229/30/2022 Linked Qtr. Change CRE –Investment & Construction Net Active Balance$4,051.74$3,921.54$4,040.73$3,727.20$4,096.40$4,389.62$4,743.41$353.79 Net Available Credit3,463.313,841.694,158.194,968.765,347.776,145.466,556.19410.73 Total Exposure7,515.067,763.248,198.928,695.969,444.1810,535.0811,299.60764.52 % Funded53.9%50.5%49.3%42.9%43.4%41.7%42.0%0.3% C&I and O/O CRE Net Active Balance$3,428.60$3,658.73$3,939.28$4,148.52$4,471.15$4,973.23$5,378.49$405.26 Net Available Credit5,036.065,054.445,403.245,870.426,129.816,147.206,576.16428.96 Total Exposure8,464.678,713.179,342.5310,018.9410,600.9611,120.4311,954.65834.22 % Funded40.5%42.0%42.2%41.4%42.2%44.7%45.0%0.3% Consumer Net Active Balance$1,511.32$1,597.98$1,597.06$1,608.47$1,589.27$1,850.23$1,837.93($12.30) Net Available Credit1,922.711,994.212,062.242,224.752,403.492,477.992,707.66229.67 Total Exposure3,434.033,592.193,659.303,833.223,992.764,328.224,545.59217.37 % Funded44.0%44.5%43.6%42.0%39.8%42.7%40.4%(2.3%) Totals Net Active Balance$8,991.67$9,178.25$9,577.07$9,484.18$10,156.82$11,213.08$11,959.83$746.75 Net Available Credit10,422.0810,890.3411,623.6713,063.9413,881.0814,770.6415,840.021,069.38 Total Exposure19,413.7520,068.5921,200.7422,548.1224,037.9025,983.7227,799.851,816.13 % Funded46.3%45.7%45.2%42.1%42.3%43.2%43.0%(0.2%) 33 Total Allowance for Credit Losses for loans = $288.1 mm or 1.04% of loans at September 30, 2022 (1)Calculation based on end of period loan balance (2)Net charge-off percentage calculation is annualized and in relation to avg. quarterly loan balances (3)For a reconciliation of this Non-GAAP financial measure to the comparable GAAP measure, see slide 59-60. •3 rd party economic forecast model provides significant inputs into ACL calculation •Unemployment and GDP are primary economic forecast metrics •Weighted average of Baseline (40%), Optimistic (30%) and Pessimistic (30%) scenarios used in 3Q 2022 Allowance for Credit Losses % of Loans Off-Balance Sheet Total At September 30, 2021$268,6351.17% (1) $22,469$291,104 Net Charge Offs($8,077) 0.14% (2) ($8,077) 4Q Provision$2,675 -$2,675 At December 31, 2021$263,233 1.12% (1) $22,469$285,702 Net Charge Offs($2,958) 0.05% (2) ($2,958) 1Q Provision$1,343 $500$1,843 At March 31, 2022$261,618 1.07% (1) $22,969$284,587 Net Charge Offs($877) 0.01% (2) ($877) 2Q Provision$11,742 $1,000$12,742 At June 30, 2022$272,483 1.03% (1) $23,969$296,452 Net Charge Offs($10,983) 0.16% (2) ($10,983) 3Q Provision$26,588 $500$27,088 At September 30, 2022$288,088 1.04% (1) $24,469$312,557 At September 30, 2022 Excluding PPP Loans (3) 1.04% (1)(3) Forecasted economicmetrics (1) BaseCase Outlook at:4Q221Q232Q233Q23 US UnemploymentRates 2Q223.34%3.39%3.43%3.47% 3Q223.69%3.78%3.94%3.99% US Real GDP Change 2Q221.82%2.40%2.99%3.65% 3Q22(0.07%)0.26%0.70%1.32% (1)Weighted metrics are used in PNFP CECL assessment. Unemployment rates are quarterly averages. US Real GDP rates are change in quarterly GDP from 4Q21. Current Expected Credit Losses 34 Current Expected Credit Losses Allowance for Credit Losses September 30, 2021 CECL December 31, 2021 CECL March 31, 2022 CECL June 30, 2022 CECL September 30, 2022 CECL Amount% of LoansAmount% of LoansAmount% of LoansAmount% of LoansAmount% of Loans Commercial and Industrial $101,1461.43%*$112,3401.46%*$112,4121.37%*$125,7721.36%*$140,2851.44%* Commercial Real Estate93,2851.14%78,1220.94%75,5840.88%72,1560.79%70,6330.74% Construction and Land Development 32,8601.06%29,4291.01%29,8230.91%28,6810.85%28,6210.81% Consumer Real Estate31,0250.88%32,1040.87%32,3200.85%33,8830.84%35,4650.83% Consumer and Other10,0492.18%11,2382.31%11,4792.35%11,9912.40%13,0842.38% Allowance for Loan Losses$268,6351.20%*$263,2331.14%*$261,6181.07%*$272,4831.04%*288,0881.04%* Reserve for unfunded commitments22,46922,46922,96923,96924,469 Allowance for Credit Losses -Total$291,104$285,702$284,587$296,452$312,557 *: Reserve percentages for C&I and total loans exclude SBA PPP loans. For a reconciliation of this Non-GAAP financial measure to the comparable GAAP measure, see slide 57-59. 35 Asset Quality (*) Excludes past due loans rated substandard ($in millions)September 30, 2022 AS A % OF TOTALLOANS June 30, 2022 AS A % OF TOTALLOANS September 30, 2021 AS A % OF TOTALLOANS NPLs and > 90 days Const. and land development $1030.00%$4030.00%$1,6450.01% Consumer RE 14,6900.05%9,7540.04%19,3570.08% CRE –Owner Occupied 2,4170.01%2,7560.01%2,4410.01% CRE –Non-Owner Occupied 1,2440.00%2,1840.01%1,9010.01% Total real estate $18,4540.07%$15,0970.06%$25,3440.11% C&I 21,6330.08%3,7040.01%22,9930.10% Other7850.00%4980.00%2690.00% Total loans $40,8720.15%$19,2990.07%$48,6060.21% Classified loans and ORE Substandard commercial loans$78,3660.28%$91,5190.35%$164,8760.72% Doubtful commercial loans-0.00%-0.00%-0.00% Other impaired loans15,0800.05%9,0030.03%21,0580.09% 90 days past due and accruing (*)6,6350.02%3,7120.01%1,9140.01% Other real estate7,7870.03%8,2370.03%8,4150.04% Other repossessed assets-0.00%-0.00%-0.00% Total107,8680.39%$112,4710.43%$196,2630.85% Pinnacle Bank classified asset ratio2.6%2.9%5.6% 36 Balance Sheet –Loan Portfolio 37 -0.10% 0.00% 0.10% 0.20% 0.30% 0.40% 0.50% 0.60% 0.70% 0.80% 0.90% 1.00% CREConstructionC&IConsumer REConsumer and other Total net charge off rates Net Loan Charge Offs by Loan Type 2019202020212022 Balance Sheet –Loan Portfolio –100/300 Test ($ in thousands) Description3Q222Q221Q224Q213Q212Q21 Loans secured by real estate: Construction, land development, and other loans: 1-4 family residentialconstruction loans$792,046$754,325$701,029$625,862$635,470$556,052 Other constructionloans and all land development and other land loans2,756,9252,632,5412,576,0002,277,1552,461.4912,235,559 Loans included in the 100% test$3,548,971$3,386,866$3,277,029$2,903,017$3,096,961$2,791,611 Securedby multifamily (5 or more) residential properties$1,046,914$968,717$744,498$627,803$664,599$739,788 Loans securedby other nonfarm nonresidential properties5,122,1274,909,5984,707,7614,607,0484,597,7374,644,551 Financed realestate not secured by real estate 421,389436,674405,738452,283389,190490,637 Loansincluded in the 300% test$10,139,400$9,701,855$9,135,026$8,590,150$8,748,487$8,666,587 Total Risk-Based Capital$4,155,586$3,877,155$3,748,002$3,670,111$3,466,596$3,483,255 %ofTotal Risk-Based Capital 100% Test –Constructionand LandDevelopment85%87%87%79%89%80% 300% Test –Construction and Land Development + NOOCRE + Multifamily244%250%244%234%252%249% 38 Balance Sheet –Deposit Portfolio –Market Segmentation ($ in millions) TOTAL DEPOSITSCORE DEPOSITSNONCORE DEPOSITS TOTAL PINNACLETRANSACTION AND MMDACDsPUBLIC FUNDS and OTHER DEPOSITS 3Q223Q213Q223Q213Q223Q213Q223Q21 Nashville$ 13,372.2$ 12,207.1$ 12,685.9$ 11,649.4$ 419.7$ 376.2$266.6$ 181.5 Knoxville2,436.42,373.12,307.52,283.879.053.349.936.0 Memphis2,091.51,782.41,825.21,556.5152.0130.9114.395.0 Chattanooga2,020.61,731.91,864.91,636.481.133.574.662.0 Birmingham124.725.4122.425.41.3-1.0- Huntsville216.218.2209.418.21.4-5.4- Total TN/AL$ 20,261.6$ 18,138.1$ 19,015.3$ 17,169.7$ 734.5$ 593.9$ 511.8$ 374.5 Greensboro/High Point2,994.42,690.62,640.52,346.2245.8223.1108.1121.3 Charlotte1,998.61,849.81,798.91,645.1132.8136.166.968.6 Charleston1,473.91,330.61,323.51,213.5114.495.536.021.6 Raleigh959.4897.6903.2848.043.537.912.711.7 Roanoke988.5846.4891.3761.974.271.523.013.0 Greenville462.5405.2379.4335.254.352.728.817.3 Washington, D.C.71.2-70.9-0.3--- Total Carolinas / VA$ 8,948.5$ 8,020.2$ 8,007.7$ 7,149.9$ 665.3$ 616.8$ 275.5$ 253.5 Atlanta441.6156.3431.4156.34.2-6.0- Specialty Lending 653.1464.4650.2462.21.51.51.40.7 Other3,385.22,590.81,228.01,005.010.715.12,146.51,570.7 Total$ 33,690.0$ 29,369.8$ 29,332.6$ 25,943.1$ 1,416.2$ 1,227.3$ 2,941.2$2,199.4 Note: Percentages noted in red text represent year-over-year growth rates. 39 Balance Sheet –Bond Portfolio Statistics ●Investmentsto Total Assets of 15.8% 16.3% 1.8% 25.9% 5.2% 2.4% 48.4% Agency/TreasuryCorporatesMBSAsset BackedCMOsMunicipals Portfolio: September 30, 2022 Total Investments $6.5 billion Net Unrealized Gain (Loss) ($263.9) million QuarterDurationAvg. Yield-TE 3Q224.9%2.7% 2Q224.6%2.3% 1Q224.4%2.1% 4Q214.1%2.1% 3Q214.5%2.0% 2Q214.3%2.3% 1Q214.8%2.3% 4Q204.4%2.3% 3Q204.7%2.4% 2Q204.6%2.6% 40 Investment Securities Segmentation Note: See slide 60for peer group utilized in the above analysis. Source: S&P Global 76%76% 77% 72% 70% 24% 24% 23% 28% 30% Sep. 2021Dec. 2021Mar. 2022Jun. 2022Sep. 2022 Effective Bond Portfolio Composition End of Period Fixed RateVariable Rate Balance Sheet –Bond Portfolio 41 2.66 15.8 - 5.0 10.0 15.0 20.0 25.0 30.0 35.0 40.0 0.00 0.50 1.00 1.50 2.00 2.50 3.00 3.50 4.00 2017Q12017Q22017Q32017Q42018Q12018Q22018Q32018Q42019Q12019Q22019Q32019Q42020Q12020Q22020Q32020Q42021Q12021Q22021Q32021Q42022Q12022Q22022Q3 % of Total Assets Bond Yields PNFP - Bond YieldsPeer Median - Bond Yields PNFP - % of Total AssetsPeer Median - % of Total Assets Interest Rate Sensitivity ▪The IRR sensitivity analysis assumes deposit betas based on the prior tightening cycle, which equates to approximately 55% for interest-bearing deposits and 40% for total deposits. Given current industry liquidity levels, we are optimistic we can outperform historical levels while still protecting relationship deposits. ▪With substantially all floating rate loans above floors as of 9/30, the asset side of the balance sheet is positioned to fully reflect the impact of additional Fed rate hikes 42 Note: We believe our interest rate sensitivity modeling is consistent with regulatory requirements.Our interest rate sensitivity modeling incorporates a number ofbroad assumptions for earnings simulation, including loan and deposit re-pricing characteristics, the rate of loan prepayments, static balance sheet, etc. Management periodically reviews these assumptions for accuracy based on historical data and future expectations and may change assumptions over time based on better data sources, improved modeling techniques, regulatory changes, etc. Our ALCO policy requires that the base scenario assumes ALL rates remain flat for the prescribed time periods and is the scenario, including those above, to which all others are compared in order to measure the change in net interest income. Policy limits are applied to the results of certain modeling scenarios. While the primary policy scenarios focus is on a twelve-month time frame, including the information above, for the earnings simulations model, longer time horizons are also modeled but are not shown herein. *Most recent IRR sensitivity analysis completed as of 8/31/22 -1.2% 0.2% 0.4% 0.7% 1.6% 1.2% 1.1% -1.0% 1.9% 2.2% 2.8% 3.7% 2.9% 2.1% -2.0% -1.0% 0.0% 1.0% 2.0% 3.0% 4.0% 1Q212Q213Q214Q211Q222Q223Q22* Net Interest Income % D Rising Rate Ramp & Shock Scenarios Ramp +100bpShock +100bp NIM Adjusted for PPP and Liquidity Impact –3Q22 Estimate PPP and Liquidity Build negatively impacted 3Q22 NIM by 0.09% (2) Yields computed on tax-exempt instruments on a tax equivalent basis and included $10.8 million of taxable equivalent income for the three months ended Sep. 30, 2022compared to $8.5 million for the three months ended Sep. 30, 2021. The tax-exempt benefit has been reduced by the projected impact of tax-exempt income that will be disallowed pursuant to IRS Regulations as of and for the then current period presented. (1) Average balances of nonperforming loans are included in the above amounts. (3) Net interest margin is the result of annualized net interest income calculated on a tax equivalent basis divided by average interest-earning assets for the period. Actual Avg Balances 3Q22 ProForma Adjustments Adjusted Avg Balances after PF EntriesInterest ProForma Adjustments Adjusted Interest after PF EntriesRates/ Yields ProForma Yield/ Rate Adj. Adj. Yield/ Rates after PF Entries Loans (1)(2) $ 27,021$ (28) a $ 26,993 $ 315.9 $ (0.8) a $ 315.14.73%11.37% a 4.73% Securities (2) Taxable3,436 3,436 18.218.22.10%2.10% Tax-exempt3,1063,106 21.4 21.43.28%3.28% Other1891891.91.94.06%4.06% Fed funds sold & Interest- bearing deposits2,412(1,701) b 711 14.3 $ (10.1) b 4.2 2.35%2.35% b 2.35% $ 36,164(1,729)$ 34,435 $ 371.8 $ (10.9)$ 360.9 4.20%4.28% Nonearning assets4,300 4,300 $ 40,464$ (1,729)$ 38,735 Total deposits and Interest- bearing liabilities34,761(1,729) a,b 33,032 66.0(3.3) a,b 62.70.75%0.75% a,b 0.75% Other liabilities300300 Stockholders' equity5,4035,403 $ 40,464$ (1,729)$ 38,735 Net Interest income$ 305.8 $ (7.6)$ 298.2 Net interest margin (3) 3.47%0.09%3.56% Pro Forma Adjustments a Average balances of PPP loans carried during 3Q22 at an average yield of 11.37%; assume funded from all funding sources. b Estimated average balances of excess liquidity carried during 3Q22 with average yield of 2.35%; assume funded from all funding sources. 43 NIM Adjusted for PPP and Liquidity Impact –2Q22 Estimate PPP and Liquidity Build negatively impacted 2Q22 NIM by 0.12% (2) Yields computed on tax-exempt instruments on a tax equivalent basis and included $9.6 million of taxable equivalent income for the three months ended Jun. 30, 2022 compared to $7.9 million for the three months ended Jun. 30, 2021. The tax-exempt benefit has been reduced by the projected impact of tax-exempt income that will be disallowed pursuant to IRS Regulations as of and for the then current period presented. (1) Average balances of nonperforming loans are included in the above amounts. (3) Net interest margin is the result of annualized net interest income calculated on a tax equivalent basis divided by average interest-earning assets for the period. Actual Avg Balances 2Q22 ProForma Adjustments Adjusted Avg Balances after PF EntriesInterest ProForma Adjustments Adjusted Interest after PF EntriesRates/ Yields ProForma Yield/ Rate Adj. Adj. Yield/ Rates after PF Entries Loans (1)(2) $ 25,398$ (85) a $ 25,313 $ 252.2 $ (4.1) a $ 248.14.07%19.56% a 4.02% Securities (2) Taxable3,421 3,421 12.712.71.49%1.49% Tax-exempt3,0263,026 19.9 19.93.19%3.19% Other1781781.11.12.51%2.51% Fed funds sold & Interest- bearing deposits2,659(2,062) b 597 6.5 $ (5.0) b 1.5 0.97%0.97% b 0.97% $ 34,682(2,147)$ 32,535 $ 292.4 $ (9.1)$ 283.3 3.49%3.61% Nonearning assets4,099 4,099 $ 38,781$ (2,147)$ 36,634 Total deposits and Interest- bearing liabilities33,224(2,147) a,b 31,077 27.8(1.8) a,b 26.00.34%0.34% a,b 0.34% Other liabilities241241 Stockholders' equity5,3165,316 $ 38,781$ (2,147)$ 36,634 Net Interest income$ 264.6 $ (7.3)$ 257.3 Net interest margin (3) 3.17%0.12%3.29% Pro Forma Adjustments a Average balances of PPP loans carried during 2Q22 at an average yield of 19.56%; assume funded from all funding sources. b Estimated average balances of excess liquidity carried during 2Q22 with average yield of 0.97%; assume funded from all funding sources. 44 NIM Adjusted for PPP and Liquidity Impact –1Q22 Estimate PPP and Liquidity Build negatively impacted 1Q22 NIM by 0.29% (2) Yields computed on tax-exempt instruments on a tax equivalent basis and included $8.5 million of taxable equivalent income for the three months ended Mar. 31, 2022 compared to $7.3 million for the three months ended Mar. 31, 2021. The tax-exempt benefit has been reduced by the projected impact of tax-exempt income that will be disallowed pursuant to IRS Regulations as of and for the then current period presented. (1) Average balances of nonperforming loans are included in the above amounts. (3) Net interest margin is the result of annualized net interest income calculated on a tax equivalent basis divided by average interest-earning assets for the period. Actual Avg Balances 1Q22 ProForma Adjustments Adjusted Avg Balances after PF EntriesInterest ProForma Adjustments Adjusted Interest after PF EntriesRates/ Yields ProForma Yield/ Rate Adj. Adj. Yield/ Rates after PF Entries Loans (1)(2) $ 23,849$ (256) a $ 23,593 $ 227.0 $ (10.8) a $ 216.23.94%17.19% a 3.80% Securities (2) Taxable3,235 3,235 11.011.01.39%1.39% Tax-exempt2,9092,909 17.4 17.42.94%2.94% Other1701700.60.61.33%1.33% Fed funds sold & Interest- bearing deposits4,630 (4,273) b 357 2.5 $ (2.3) b 0.2 0.22%0.22% b 0.22% $ 34,792(4,529)$ 30,263 $ 258.6 $ (13.1)$ 245.4 3.11%3.40% Nonearning assets3,845 3,845 $ 38,637$ (4,529)$ 34,108 Total deposits and Interest- bearing liabilities33,049(4,529) a,b 28,520 19.1(2.6) a,b 16.50.23%0.23% a,b 0.23% Other liabilities257257 Stockholders' equity5,3315,331 $ 38,637$ (4,529)$ 34,108 Net Interest income$ 239.5 $ (10.6)$ 228.9 Net interest margin (3) 2.89%0.29%3.18% Pro Forma Adjustments a Average balances of PPP loans carried during 1Q22 at an average yield of 17.19%; assume funded from all funding sources. b Estimated average balances of excess liquidity carried during 1Q22 with average yield of 0.22%; assume funded from all funding sources. 45 NIM Adjusted for PPP and Liquidity Impact –4Q21 Estimate PPP and Liquidity Build negatively impacted 4Q21 NIM by 0.25% (2) Yields computed on tax-exempt instruments on a tax equivalent basis and included $10.1 million of taxable equivalent income for the three months ended Dec. 31, 2021 compared to $8.4 million for the three months ended Dec. 31, 2020. The tax-exempt benefit has been reduced by the projected impact of tax-exempt income that will be disallowed pursuant to IRS Regulations as of and for the then current period presented. (1) Average balances of nonperforming loans are included in the above amounts. (3) Net interest margin is the result of annualized net interest income calculated on a tax equivalent basis divided by average interest-earning assets for the period. Actual Avg Balances 4Q21 ProForma Adjustments Adjusted Avg Balances after PF EntriesInterest ProForma Adjustments Adjusted Interest after PF EntriesRates/ Yields ProForma Yield/ Rate Adj. Adj. Yield/ Rates after PF Entries Loans (1)(2) $ 23,226$ (531) a $ 22,695 $ 230.0 $ (15.5) a $ 214.64.04%11.56% a 3.86% Securities (2) Taxable3,113 3,113 9.79.71.24%1.24% Tax-exempt2,7012,701 16.9 16.93.04%3.04% Other1681680.50.51.28%1.28% Fed funds sold & Interest- bearing deposits4,188 (3,843) b 345 2.0 $ (1.8) b 0.2 0.19%0.19% b 0.19% $ 33,395(4,374)$ 29,021 $ 259.2 $ (17.3)$ 241.9 3.20%3.44% Nonearning assets3,737 3,737 $ 37,132 $ (4,374)$ 32,758 Total deposits and Interest- bearing liabilities31,549(4,374) a,b 27,175 20.4(2.8) a,b 17.60.26%0.26% a,b 0.26% Other liabilities321321 Stockholders' equity5,2635,263 $ 37,132$ (4,374)$ 32,758 Net Interest income$ 238.8 $ (14.5)$ 224.3 Net interest margin (3) 2.96%0.25%3.20% Pro Forma Adjustments a Average balances of PPP loans carried during 4Q21 at an average yield of 11.56%; assume funded from all funding sources. b Estimated average balances of excess liquidity carried during 4Q21 with average yield of 0.19%; assume funded from all funding sources. 46 NIM Adjusted for PPP and Liquidity Impact –3Q21 Estimate PPP and Liquidity Build negatively impacted 3Q21 NIM by 0.17% (2) Yields computed on tax-exempt instruments on a tax equivalent basis and included $8.5 million of taxable equivalent income for the three months ended September 30, 2021 compared to $7.3 million for the three months ended September 30, 2020. The tax-exempt benefit has been reduced by the projected impact of tax-exempt income that will be disallowed pursuant to IRS Regulations as of and for the then current period presented. (1) Average balances of nonperforming loans are included in the above amounts. (3) Net interest margin is the result of annualized net interest income calculated on a tax equivalent basis divided by average interest-earning assets for the period. Actual Avg Balances 3Q21 ProForma Adjustments Adjusted Avg Balances after PF EntriesInterest ProForma Adjustments Adjusted Interest after PF EntriesRates/ Yields ProForma Yield/ Rate Adj. Adj. Yield/ Rates after PF Entries Loans (1)(2) $ 22,987$ (984) a $ 22,003 $ 233.9 $ (21.2) a $ 212.74.13%8.54% a 3.93% Securities (2) Taxable2,868 2,868 9.09.01.24%1.24% Tax-exempt2,5832,583 15.9 15.92.93%2.93% Other1551550.50.51.38%1.38% Fed funds sold & Interest- bearing deposits3,588 (3,174) b 414 1.6 $ (1.5) b 0.1 0.18%0.18% b 0.13% $ 32,181(4,158)$ 28,023 $ 260.9 $ (22.7)$ 238.2 3.32%3.49% Nonearning assets3,715 3,715 $ 35,896 $ (4,158)$ 31,738 Total deposits and Interest- bearing liabilities30,379(4,158) a,b 26,221 23.3(3.2) a,b 20.10.30%0.30% a,b 0.30% Other liabilities340340 Stockholders' equity5,1775,177 $ 35,896$ (4,158)$ 31,738 Net Interest income$ 237.5 $ (19.5)$ 218.1 Net interest margin (3) 3.03%0.17%3.21% Pro Forma Adjustments a Average balances of PPP loans carried during 3Q21 at an average yield of 8.54%; assume funded from all funding sources. b Estimated average balances of excess liquidity carried during 3Q21 with average yield of 0.18%; assume funded from all funding sources. 47 NIM Adjusted for PPP and Liquidity Impact –2Q21 Estimate PPP and Liquidity Build negatively impacted 2Q21 NIM by 0.17% (2) Yields computed on tax-exempt instruments on a tax equivalent basis and included $7.9 million of taxable equivalent income for the three months ended June 30, 2021 compared to $6.9 million for the three months ended June 30, 2020. The tax-exempt benefit has been reduced by the projected impact of tax-exempt income that will be disallowed pursuant to IRS Regulations as of and for the then current period presented. (1) Average balances of nonperforming loans are included in the above amounts. (3) Net interest margin is the result of annualized net interest income calculated on a tax equivalent basis divided by average interest-earning assets for the period. Actual Avg Balances 2Q21 ProForma Adjustments Adjusted Avg Balances after PF EntriesInterest ProForma Adjustments Adjusted Interest after PF EntriesRates/ Yields ProForma Yield/ Rate Adj. Adj. Yield/ Rates after PF Entries Loans (1)(2) $ 23,180$ (1,929) a $ 21,251 $ 232.8 $ (26.3) a $ 206.54.11%5.47% a 3.98% Securities (2) Taxable2,581 2,581 8.48.41.30%1.30% Tax-exempt2,4562,456 16.5 16.5 3.25%3.25% Other1571570.60.61.47%1.47% Fed funds sold & Interest- bearing deposits2,986 (2,574) b 412 1.0 $ (0.9) b 0.1 0.13%0.13% b 0.13% $ 31,360 (4,503)$ 26,857 $ 259.2 $ (27.2)$ 232.1 3.42%3.58% Nonearning assets3,694 3,694 $ 35,054 $ (4,503)$ 30,551 Total deposits and Interest- bearing liabilities29,749 (4,503) a,b 25,246 26.0 (3.9) a,b 22.10.35%0.35% a,b 0.35% Other liabilities265 265 Stockholders' equity5,0405,040 $ 35,054$ (4,503)$ 30,551 Net Interest income$ 233.2 $ (23.2)$ 210.0 Net interest margin (3) 3.08%0.17%3.25% Pro Forma Adjustments a Average balances of PPP loans carried during 2Q21 at an average yield of 5.47%; assume funded from all funding sources. b Estimated average balances of excess liquidity carried during 2Q21 with average yield of 0.14%; assume funded from all funding sources. 48 NIM Adjusted for PPP and Liquidity Impact –1Q21 Estimate PPP and Liquidity Build negatively impacted 1Q21 NIM by 0.27% (2) Yields computed on tax-exempt instruments on a tax equivalent basis and included $7.3 million of taxable equivalent income for the three months ended March 31, 2021 compared to $7.0 million for the three months ended March 31, 2020. The tax-exempt benefit has been reduced by the projected impact of tax-exemptincome that will be disallowed pursuant to IRS Regulations as of and for the then current period presented. (1) Average balances of nonperforming loans are included in the above amounts. (3) Net interest margin is the result of annualized net interest income calculated on a tax equivalent basis divided by average interest-earning assets for the period. Actual Avg Balances 1Q21 ProForma Adjustments Adjusted Avg Balances after PF EntriesInterest ProForma Adjustments Adjusted Interest after PF EntriesRates/ Yields ProForma Yield/ Rate Adj. Adj. Yield/ Rates after PF Entries Loans (1)(2) $ 22,848$ (2,065) a $ 20,783 $ 227.4 $ (23.0) a $ 204.44.11%4.51% a 4.07% Securities (2) Taxable2,271 2,271 7.77.71.38%1.38% Tax-exempt2,3952,395 15.5 15.5 3.15%3.15% Other1601600.60.61.54%1.54% Fed funds sold & Interest- bearing deposits3,196 (2,752) b 445 0.7 $ (0.6) b 0.1 0.09%0.09% b 0.09% $ 30,871 (4,816)$ 26,054 $ 251.9 $ (23.6)$ 228.3 3.41%3.67% Nonearning assets3,789 3,789 $ 34,659 $ (4,816)$ 29,843 Total deposits and Interest- bearing liabilities29,373 (4,816) a,b 24,556 29.0 (4.8) a,b 24.30.40%0.40% a,b 0.40% Other liabilities332 332 Stockholders' equity4,954 4,954 $ 34,659 $ (4,816)$ 29,843 Net Interest income$ 222.9 $ (18.8)$ 204.0 Net interest margin (3) 3.02%0.27%3.29% Pro Forma Adjustments a Average balances of PPP loans carried during 1Q21 at an average yield of 4.51%; assume funded from all funding sources. b Estimated average balances of excess liquidity carried during 1Q21 with average yield of 0.09%; assume funded from all funding sources. 49 NIM Adjusted for PPP and Liquidity Impact –4Q20 Estimate PPP and Liquidity Build negatively impacted 4Q20 NIM by 0.29% (2) Yields computed on tax-exempt instruments on a tax equivalent basis and included $8.4 million of taxable equivalent income for the three months ended December 31, 2020 compared to $8.1 million for the three months ended December 31, 2019. The tax-exempt benefit has been reduced by the projected impact of tax-exempt income that will be disallowed pursuant to IRS Regulations as of and for the then current period presented. (1) Average balances of nonperforming loans are included in the above amounts. (3) Net interest margin is the result of annualized net interest income calculated on a tax equivalent basis divided by average interest-earning assets for the period. Actual Avg Balances 4Q20 ProForma Adjustments Adjusted Avg Balances after PF EntriesInterest ProForma Adjustments Adjusted Interest after PF EntriesRates/ Yields ProForma Yield/ Rate Adj. Adj. Yield/ Rates after PF Entries Loans (1)(2) $ 22,525$ (2,110) a $ 20,414 $ 232.6 $ (24.6) a $ 208.0 4.20%4.64% a 4.16% Securities (2) Taxable2,236 2,236 7.57.5 1.34%1.34% Tax-exempt2,3322,332 15.4 15.4 3.16%3.16% Other1571570.60.61.52%1.52% Fed funds sold & Interest- bearing deposits3,464 (2,978) b 486 0.9 $ (0.8) b 0.1 0.10%0.11% b 0.09% $ 30,714 (5,088)$ 25,626 $ 257.0 $ (25.4)$ 231.6 3.44%3.60% Nonearning assets3,723 3,723 $ 34,437 $ (5,088)$ 29,348 Total deposits and Interest- bearing liabilities29,239 (5,088) a,b 24,150 36.1 (6.3) a,b 29.80.49%0.49% a,b 0.49% Other liabilities346 346 Stockholders' equity4,852 4,852 $ 34,437 $ (5,088)$ 29,348 Net Interest income$ 221.0 $ (19.1)$ 201.9 Net interest margin (3) 2.97%0.29%3.27% Pro Forma Adjustments a Average balances of PPP loans carried during 4Q20 at an average yield of 4.64%; assume funded from all funding sources. b Estimated average balances of excess liquidity carried during 4Q20 with average yield of 0.11%; assume funded from all funding sources. 50 NIM Adjusted for PPP and Liquidity Impact –3Q20 Estimate PPP and Liquidity Build negatively impacted 3Q20 NIM by 0.40% (2) Yields computed on tax-exempt instruments on a tax equivalent basis and included $7.3 million of taxable equivalent income for the three months ended Sept. 30, 2020 compared to $7.5 million for the three months ended September 30, 2019. The tax-exempt benefit has been reduced by the projected impact of tax-exempt income that will be disallowed pursuant to IRS Regulations as of and for the then current period presented. (1) Average balances of nonperforming loans are included in the above amounts. (3) Net interest margin is the result of annualized net interest income calculated on a tax equivalent basis divided by average interest-earning assets for the period. Actual Avg Balances 3Q20 ProForma Adjustments Adjusted Avg Balances after PF EntriesInterest ProForma Adjustments Adjusted Interest after PF EntriesRates/ Yields ProForma Yield/ Rate Adj. Adj. Yield/ Rates after PF Entries Loans (1)(2) $ 22,493 $ (2,235) a $ 20,258 $ 224.5 $ (15.6) a $ 208.9 4.04%2.77% a 4.19% Securities (2) Taxable2,226 2,226 8.38.3 1.43%1.48% Tax-exempt2,194 2,194 15.0 15.0 3.37%3.29% Other1521520.60.61.62%1.62% Fed funds sold & Interest- bearing deposits3,127 (2,616) b 511 0.8 $ (0.7) b 0.1 0.10%0.10% b 0.10% $ 30,192 (4,851)$ 25,341 $ 249.2 $ (16.3)$ 232.9 3.38%3.79% Nonearning assets3,647 3,647 $ 33,839 $ (4,851)$ 28,988 Total deposits and Interest- bearing liabilities28,731 (4,851) a,b 23,880 42.6 (7.2) a,b 35.4 0.59%0.59% a,b 0.59% Other liabilities342 342 Stockholders' equity4,766 4,766 $ 33,839 $ (4,851)$ 28,988 Net Interest income$ 206.6 $ (9.0)$ 197.5 Net interest margin (3) 2.82%0.40%3.22% Pro Forma Adjustments a Average balances of PPP loans carried during 3Q20 at an average yield of 2.77%; assume funded from all funding sources. b Estimated average balances of excess liquidity carried during 3Q20 with average yield of 0.10%; assume funded from all funding sources. 51 NIM Adjusted for PPP and Liquidity Impact –2Q20 Estimate PPP and Liquidity Build negatively impacted 2Q20 NIM by 0.32% (2) Yields computed on tax-exempt instruments on a tax equivalent basis and included $6.9 million of taxable equivalent income for the three months ended June 30, 2020 compared to $6.9 million for the three months ended June 30, 2019. The tax-exempt benefit has been reduced by the projected impact of tax-exempt income that will be disallowed pursuant to IRS Regulations as of and for the then current period presented. (1) Average balances of nonperforming loans are included in the above amounts. (3) Net interest margin is the result of annualized net interest income calculated on a tax equivalent basis divided by average interest-earning assets for the period. Actual Avg Balances 2Q20 ProForma Adjustments Adjusted Avg Balances after PF EntriesInterest ProForma Adjustments Adjusted Interest after PF EntriesRates/ Yields ProForma Yield/ Rate Adj. Adj. Yield/ Rates after PF Entries Loans (1)(2) $ 22,257 $ (1,689) a $ 20,568 $ 226.28 $ (12.12) a $ 214.16 4.16%2.89% a 4.27% Securities (2) Taxable2,157 2,157 9.59 9.59 1.79%1.79% Tax-exempt2,038 2,038 14.60 14.60 3.44%3.44% Fed funds sold2,619 (1,967) b 652 1.27 $ (0.42) b 0.85 0.20%0.09% b 0.29% $ 29,071 (3,656)$ 25,415 $ 251.74 $ (12.54)$ 239.20 3.58%3.89% Nonearning assets3,715 3,715 $ 32,786 $ (3,656)$ 29,130 Total Deposits and Interest Bearing Liabilities27,919 (3,656) a,b 24,263 51.08 (6.69) a,b 44.39 0.74%0.74% a,b 0.74% Other liabilities368 368 Stockholders' equity4,499 4,499 $ 32,786 $ (3,656)$ 29,130 Net Interest income$ 200.66 $ (5.86)$ 194.80 Net interest margin (3) 2.87%0.32%3.19% Pro Forma Adjustments a Average balances of PPP loans carried during 2Q20 at an average yield of 2.89%. Assume funded from all funding sources. b Estimated average balances of excess liquidity carried during 2Q20 with average yield of 0.09%. Assume funded from all funding sources. 52 Income Statement –Mortgage Volumes 1.00% 1.50% 2.00% 2.50% 3.00% 3.50% 4.00% 4.50% 5.00% $25,000 $100,000 $175,000 $250,000 $325,000 $400,000 $475,000 $550,000 $625,000 Purchase Money Refinance Gross fees as a % of loans originated 53 *: excluding gains and losses on sales of investment securities. For a reconciliation of these Non-GAAP financial measures to the comparable GAAP measures, see slides 57-59. Note: See slide 60 for peer group utilized in the above analysis. Peer group calculated by aggregating total peer revenues by total peer weighted avg. shares for each quarter. Source: S&P Global 54 Income Statement –Revenue Per Share $11.10 $11.43 $11.74 $12.13 $12.42 $12.92 $13.44 $13.54 $13.87 $14.05 $14.35 $15.07 $15.78 $16.51 $17.07 $17.50 $17.85 $18.62 $19.51 8.8% 11.3% 11.9% 13.0% 11.9% 13.0% 14.5% 11.6% 11.6% 8.7% 6.8% 11.3% 13.8% 17.5% 19.0% 16.2% 13.1% 12.8% 14.3% 7.6% 6.4% 6.7% 6.2% 4.6% 4.8% 4.3% 4.4% 5.8% 7.7% 8.5% 5.3% 6.5% 5.8% 3.4% 0.5% -0.3% 1.3% -2.0% 0.0% 2.0% 4.0% 6.0% 8.0% 10.0% 12.0% 14.0% 16.0% 18.0% 20.0% $10.00 $11.00 $12.00 $13.00 $14.00 $15.00 $16.00 $17.00 $18.00 $19.00 $20.00 1Q182Q183Q184Q181Q192Q193Q194Q191Q202Q203Q204Q201Q212Q213Q214Q211Q222Q22 Y/Y Revenue per Share Growth Revenue per Share LTM Revenue Per Share Growth* vs. Peers PNFP LTM Revenue/Share*PNFP Y/Y GrowthPeer Median Y/Y Growth ($'s in thousands) 2018201920202021YTD 2Q22 PPNR Trends Net interest income $ 736,342$ 766,142$821,788$932,401$809,833 Noninterest income 200,850263,826317,840395,734333,803 Noninterest expense (452,867)(505,148)(564,455)(660,104)(577,952) PPNR before adjustments$ 484,325$ 524,820$575,173$668,031$565,684 Adjustments to PPNR Investment (gains) and losses$ 2,254$ 5,941($986)($759)($156) Loss on sale of non-prime automobile portfolio-1,536--- ORE expense (benefit)7234,2288,555(712)101 Merger charges8,259---- FHLB restructuring charges--15,168-- Hedge termination charges--4,673-- Branch rationalization charges-3,189--- Adjusted PPNR $ 495,561$539,714$602,583$666,560$565,629 Adjusted PPNR growth rate*36.6%8.9%11.6%10.6%13.1% Net PPNR per share*$6.25$6.84$7.60$8.80$9.93 Adjustments to PPNR per share*$0.15$0.19$0.36$0.02$0.00 Adjusted Net PPNR per share*$6.40$ 7.03$7.96$8.78$9.93 PPNR/share growth rate13.5%9.8%13.2%10.3%13.1% Income Statement –PPNR $0 $100 $200 $300 $400 $500 $600 $700 $800 20182019202020213Q22* Adjusted PPNR *: YTD Annualized 55 *: 3Q22 YTD Annualized BHG Financials Consistency through turbulent markets / Strong revenue and record equity at 3Q Source: BHG Internal Data, unaudited. •Beat earnings estimate posting second highest income quarter •Maintains strong cash position and ample liquidity through numerous funding facilities 56 ($'s in thousands)3Q 20222Q 20223Q 2021 Interest Income116,315$ 98,089$ 57,400$ Interest Expense25,414 20,989 9,670 Provision for Loan Losses53,060 35,935 13,586 Net Interest Income After Provision for Loan Losses37,841 41,165 34,145 Gains on Loan Sales & Origination Fees167,615 189,982 134,558 Other Income9,497 9,876 201 Total Net Revenues214,953 241,023 168,904 Gross Revenues293,427 297,947 192,160 Salary and Benefits61,765 61,494 46,700 Marketing Expenses36,812 39,035 34,734 Portfolio Expenses8,310 7,999 4,779 Other Expenses27,978 25,287 19,411 Total Operating Expenses134,865 133,816 105,624 Net Earnings80,088$ 107,207$ 63,280$ Profitability Statistics Earnings to Gross Revenues27.29%35.98%32.93% Portfolio Mgmt Expense to Gross Revenues29.58%21.79%14.59% Operating Expenses to Gross Revenues43.13%42.23%52.48% ($'s in thousands) At Sep 30, 2022 At Jun 30, 2022 At Sep 30, 2021 Cash and Cash Equivalents584,525 454,982 466,619 Loans Held for Investment2,871,277 2,533,138 1,704,918 Allowance for Loan Losses(101,326) (75,772) (41,860) Loans Held for Sale437,602 323,351 164,033 Premises and Equipment91,739 90,258 73,050 Other Assets161,569 139,422 76,545 Total Assets4,045,386$ 3,465,380$ 2,443,304$ Accrual for Loan Subs270,313 234,945 231,435 Secured Borrowings2,387,997 2,101,578 1,461,750 Notes Payable656,700 462,898 275,476 Borrower Reimbursable Fee134,046 123,267 96,071 Other Liabilities67,589 57,961 46,033 3,516,645$ 2,980,649$ 2,110,765$ Equity (all Tangible)528,741 484,731 332,539 Total Liabilities & Stockholders Equity4,045,386$ 3,465,380$ 2,443,304$ Loan Liability at Other Bank s5,123,683 4,719,341 4,083,914 Total Outstanding Loan Liability7,893,633 7,176,708 5,746,971 Soundness Statistics: Cash to Assets14.45%13.13%19.10% Equity to Assets13.07%13.99%13.61% Accrual for loan subs5.28%4.98%5.67% Allowance to Loans Held for Investment3.53%2.99%2.46% Total Reserves against Total Outstanding4.71%4.33%4.76% Total Liabilities Income Statement Reconciliation of Non-GAAP Financial Measures 57 Income Statement Reconciliation of Non-GAAP Financial Measures 58 Income Statement Reconciliation of Non-GAAP Financial Measures 59 2022 Peer Group 60 Institution NameTickerCity, State Pinnacle Financial Partners, Inc.PNFPNashville, TN Comerica Inc. CMADallas, TX First Horizon Corp. FHNMemphis, TN Zions Bancorp. NAZIONSalt Lake City, UT Synovus Financial Corp.SNVColumbus, GA Cullen/Frost Bankers, Inc.CFRSan Antonio, TX Wintrust Financial CorporationWTFCRosemont, IL Valley National BancorpVLYNew York, NY South State CorporationSSBWinter Haven, FL F.N.B. CorporationFNBPittsburgh, PA UMB Financial CorporationUMBFKansas City, MO Prosperity Bancshares, Inc.PBHouston, TX PacWest BancorpPACWBeverly Hills, CA Hancock Whitney CorporationHWCGulfport, MS Bank United Inc.BKUHouston, TX Commerce Bancshares, Inc.CBSHKansas City, MO Associated Banc-corpASBGreen Bay, WI Umpqua Holdings CorporationUMPQPortland, OR Cadence BankCADETupelo, MS United Bankshares Inc. UBSICharleston, WV Fulton Financial CorporationFULTLancaster, PA Bank OZKOZKLittle Rock, AR Simmons First National CorporationSFNCPine Bluff, AR Investor Call THIRD QUARTER 2022 M. TERRY TURNER, PRESIDENT AND CEO HAROLD R. CARPENTER, EVP AND CFO

Investor Call SECOND QUARTER 2023 M. TERRY TURNER, PRESIDENT AND CEO HAROLD R. CARPENTER, EVP AND CFO JULY 19, 2023 Time: 8:30 AM CT Webcast: www.pnfp.com (investor relations) Safe Harbor Statements Forward Looking Statements All statements, other than statements of historical fact, included in this presentation, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The words "expect," "anticipate," "intend," "may," "should," "plan," "believe," "seek," "estimate" and similar expressions are intended to identify such forward- looking statements, but other statements not based on historical information may also be considered forward-looking statements. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could cause the actual results to differ materially from the statements, including, but not limited to:(i) deterioration in the financial condition of borrowers of Pinnacle Bank and its subsidiaries or BHG, including as a result of the negative impact of inflationary pressures on our and BHG's customers and their businesses, resulting in significant increases in loan losses and provisions for those losses and, in the case of BHG, substitutions; (ii) fluctuations or differences in interest rates on loans or deposits from those that Pinnacle Financial is modeling or anticipating, including as a result of Pinnacle Bank's inability to better match deposit rates with the changes in the short-term rate environment, or that affect the yield curve; (iii) the sale of investment securities in a loss position before their value recovers, including as a result of asset liability management strategies or in response to liquidity needs; (iv) adverse conditions in the national or local economies including in Pinnacle Financial's markets throughout Tennessee, North Carolina, South Carolina, Georgia, Alabama, Virginia and Kentucky,particularly in commercial and residential real estate markets; (v) the inability of Pinnacle Financial, or entities in which it has significant investments, like BHG, to maintain the long-term historical growth rate of its, or such entities', loan portfolio; (vi) the ability to grow and retain low-cost core deposits and retain large, uninsured deposits, including during times when Pinnacle Bank is seeking to limit the rates it pays on deposits or uncertainty exists in the financial services sector; (vii) changes in loan underwriting, credit review or loss reserve policies associated with economic conditions, examination conclusions, or regulatory developments; (viii) effectiveness of Pinnacle Financial's asset management activities in improving, resolving or liquidating lower-quality assets; (ix) the impact of competition with other financial institutions, including pricing pressures and the resulting impact on Pinnacle Financial’s results, including as a result of the negative impact to net interest margin from rising deposit and other funding costs; (x) the results of regulatory examinations; (xi) Pinnacle Financial's ability to identify potential candidates for, consummate, and achieve synergies from, potential future acquisitions; (xii) difficulties and delays in integrating acquired businesses or fully realizing costs savings and other benefits from acquisitions; (xiii) BHG's ability to profitably grow its business and successfully execute on its business plans; (xiv) risks of expansion into new geographic or product markets; (xv) any matter that would cause Pinnacle Financial to conclude that there was impairment of any asset, including goodwill or other intangible assets; (xvi) the ineffectiveness of Pinnacle Bank's hedging strategies, or the unexpected counterparty failure or hedge failure of the underlying hedges; (xvii) reduced ability to attract additional financial advisors (or failure of such advisors to cause their clients to switch to Pinnacle Bank), to retain financial advisors (including as a result of the competitive environment for associates) or otherwise to attract customers from other financial institutions; (xviii) deterioration in the valuation of other real estate owned and increased expenses associated therewith; (xix) inability to comply with regulatory capital requirements, including those resulting from changes to capital calculation methodologies, required capital maintenance levels or regulatory requests or directives, particularly if Pinnacle Bank's level of applicable commercial real estate loans were to exceed percentage levels of total capital in guidelines recommended by its regulators; (xx) approval of the declaration of any dividend by Pinnacle Financial's board of directors; (xxi) the vulnerability of Pinnacle Bank's network and online banking portals, and the systems of parties with whom Pinnacle Bank contracts, to unauthorized access, computer viruses, phishing schemes, spam attacks, human error, natural disasters, power loss and other security breaches; (xxii) the possibility of increased compliance and operational costs as a result of increased regulatory oversight (including by the Consumer Financial Protection Bureau), including oversight of companies in which Pinnacle Financial or Pinnacle Bank have significant investments, like BHG, and the development of additional banking products for Pinnacle Bank's corporate and consumer clients; (xxiii) the risks associated with Pinnacle Bank being a minority investor in BHG, including the risk that the owners of a majority of the equity interests in BHG decide to sell the company or all or a portion of their ownership interests in BHG (triggering a similar sale by Pinnacle Bank); (xxiv) changes in state and federal legislation, regulations or policies applicable to banks and other financial service providers, like BHG, including regulatory or legislative developments; (xxv) fluctuations in the valuations of Pinnacle Financial's equity investments and the ultimate success of such investments; (xxvi) the availability of and access to capital; (xxvii) adverse results (including costs, fines, reputational harm, inability to obtain necessary approvals and/or other negative effects) from current or future litigation, regulatory examinations or other legal and/or regulatory actions; and (xxviii) general competitive, economic, political and market conditions. Additional factors which could affect the forward looking statements can be found in Pinnacle Financial's Annual Report on Form 10-K for the year ended December 31, 2022, and subsequently filed Quarterly Reports on Form 10-Q and Current Reports on Form 8-K filed with the SEC and available on the SEC's website at http://www.sec.gov. Pinnacle Financial disclaims any obligation to update or revise any forward-looking statements contained in this presentation, which speak only as of the date hereof, whether as a result of new information, future events or otherwise. 2 Safe Harbor Statements Non-GAAP Financial Matters This presentation contains certain non-GAAP financial measures, including, without limitation, total revenues, net income to common shareholders, earnings per diluted common share, revenue per diluted common share, PPNR, efficiency ratio, noninterest expense, noninterest income and the ratio of noninterest expense to average assets, excluding in certain instances the impact of expenses related to other real estate owned, gains or losses on sale of investment securities, gains associated with the sale-leaseback transaction completed in the second quarter of 2023 and other matters for the accounting periods presented. This presentation also includes non-GAAP financial measures which exclude the impact of loans originated and forgiven and repaid under the PPP. This presentation may also contain certain other non-GAAP capital ratios and performance measures that exclude the impact of goodwill and core deposit intangibles associated with Pinnacle Financial's acquisitions of BNC, Avenue Bank, Magna Bank, CapitalMark Bank & Trust, Mid-America Bancshares, Inc., Cavalry Bancorp, Inc. and other acquisitions which collectively are less material to the non-GAAP measure as well as the impact of Pinnacle Financial's Series B Preferred Stock. The presentation of the non-GAAP financial information is not intended to be considered in isolation or as a substitute for any measure prepared in accordance with GAAP. Because non-GAAP financial measures presented in this presentation are not measurements determined in accordance with GAAP and are susceptible to varying calculations, these non-GAAP financial measures, as presented, may not be comparable to other similarly titled measures presented by other companies. Pinnacle Financial believes that these non-GAAP financial measures facilitate making period-to-period comparisons and are meaningful indications of its operating performance. In addition, because intangible assets such as goodwill and the core deposit intangible, and the other items excluded each vary extensively from company to company, Pinnacle Financial believes that the presentation of this information allows investors to more easily compare Pinnacle Financial's results to the results of other companies. Pinnacle Financial's management utilizes this non-GAAP financial information to compare Pinnacle Financial's operating performance for 2023 versus certain periods in 2022 and to internally prepared projections. 3 NCOs Classified Asset Ratio NPA/ Loans & ORE Shareholder Value Dashboard 2Q23 Summary Results of Key GAAP Measures 4 PNFP’s Median Quarterly Performance of 0.38% PNFP’s Median Quarterly Performance of 0.11% PNFP’s Median Quarterly Performance of 9.0% Total Revenues FD EPS Net Income Available to Common Shareholders Total Loans (millions) Total Deposits (millions) Book Value per Common Share Total Revenues* Classified Asset Ratio NCOsNPA/ Loans & ORE Tangible Book Value per Share** Total Core Deposits (millions) Total Loans (millions) CAGR 12.7% Adjusted Pre-Tax Pre-Provision Net Income* FD EPS* Shareholder Value Dashboard 2Q23 Summary Results of Key Non-GAAP Measures 5 PNFP’s Median Quarterly Performance of 0.38% PNFP’s Median Quarterly Performance of 0.11% PNFP’s Median Quarterly Performance of 9.0% *: excluding gains and losses on sales of investment securities, gain on the sale of fixed assets as a result of sale-leaseback transaction, ORE expense (income), loss on sale of non-prime automobile portfolio, branch rationalization charges, FHLB restructuring charges and hedge termination charges. PPNR represents pre-tax, pre-provision net revenues. **: excluding goodwill, core deposit and other intangible assets Note: For a reconciliation of these Non-GAAP financial measures to the comparable GAAP measures, see slides 53-54. CAGR 12.8% CAGR 16.7% CAGR 8.5% CAGR 11.0% CAGR 12.6% 2Q23 Financial Information Pinnacle continues to demonstrate extraordinary momentum during current volatile economic conditions. Our consistent focus on relationship banking and serving clients with distinctive service and effective advice increases our resilience in times such as these. 6 12.81% 24.33% 34.95% 42.44% 48.00% 0.00% 10.00% 20.00% 30.00% 40.00% 50.00% 60.00% 0.00% 0.50% 1.00% 1.50% 2.00% 2.50% 3.00% 1Q222Q223Q224Q221Q232Q23 Cumulative Deposit Beta Cost of Total Deposits - Average Rate Quarterly Avg Deposit Rates and Cumulative Beta 2Q23 Highlights •Average total deposits up 12.1% linked-quarter annualized •Migration into higher-yielding products continued to drive mix shift from non-interest bearing DDA accounts •Competition from regional banks intensified during the second quarter •Decision to move rate sheets early in cycle has resulted in above-average beta compared to peers, consistent volume growth and a defensible competitive position Favorable Deposit Growth In Difficult Environment Strong focus on growing deposits results in 12% linked-quarter annualized average growth in Q2 7 Jun. 30, 2022 EOP Rates Mar. 31, 2023 EOP Rates Jun. 30, 2023 EOP Rates Jun 30, 2023 % of Totals Noninterest bearing---------22.4% Interest-bearing: Rate sheet 0.44%1.79%1.84%18.4% Negotiated 0.58%3.14%3.53%21.7% Indexed 1.54%4.50%4.70%23.7% CDs 0.91%3.15%4.01%13.8% Total IBD 0.67%3.13%3.57%77.6% Total Deposits 0.44%2.35%2.77%100.0% $16,949 $18,113 $18,368 $18,358 $18,865 $19,778 $20,079 $20,680 $24,807 $26,352 $27,193 $27,621 $28,014 $28,740 $30,034 $31,539 $31,484 $33,108 $34,177 $35,292 $36,356 2.52% 0.00% 0.25% 0.50% 0.75% 1.00% 1.25% 1.50% 1.75% 2.00% 2.25% 2.50% 2.75% $2,000 $6,000 $10,000 $14,000 $18,000 $22,000 $26,000 $30,000 $34,000 $38,000 Average Deposit Costs Average Deposits (millions) Average Deposit Growth Avg. DepositsCost of Deposits PNFP Linked-Quarter Annualized Loan Growth was 11% Low to mid-teen percentage growth anticipated for 2023 over end of period 2022 Average Loan Growth and Yields 8 2Q23 Highlights •Annualized EOP loan growth of 11.3% in 2Q23 •Recent hires, competitor disruption and new market expansion continue to provide significant growth opportunities •Tightening of our credit box should temper the near- term outlook relative to recent growth rates •Estimating EOP loan growth of low- to mid-teens percentage for full-year 2023 11.7% 4.2% 11.7% 26.0% 14.6% 0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 30.0% EOP Loan Growth (excluding PPP loans) *: YTD Annualized Note: For a reconciliation of this Non-GAAP financial measure to comparable GAAP measure, see slide 46. *Excludes leases, credit cards, PPP loans and loans HFS; loan yields exclude tax equivalent income adjustments; loan yields consider contractual floors for individual loans but exclude the impact of other loan interest rate derivative products. $15,957 $16,730 $17,259 $17,630 $17,938 $18,611 $19,217 $19,600 $20,009 $22,257 $22,493 $22,525 $22,848 $23,180 $22,986 $23,226 $23,849 $25,397 $27,021 $28,402 $29,634 $30,882 4.91% 6.30% 3.50% 4.10% 4.70% 5.30% 5.90% 6.50% $10,000 $15,000 $20,000 $25,000 $30,000 $35,000 Loan Yields Average Loans (millions) 2.25% 2.50% 2.75% 3.00% 3.25% 3.50% 3.75% $175 $200 $225 $250 $275 $300 $325 Net Interest Margin Net Interest Income ($ in mil.) Net Interest Income & NIM NIINIM Operating Environment Continued to Impact Net Interest Margin Deposit rate competition, and inverted yield curve pressure 2Q NIM 2Q23 Highlights •Net interest income up $3.2 million during second quarter due to continued balance sheet growth. Quarterly NIM decreased primarily due to increased deposit beta as well as additional on-balance sheet liquidity added during the quarter. •End of period cash and other liquid assets increased by approximately $2.6 billion at June 30, 2023 over Dec. 31, 2022 as a result of decision to bolster on-balance sheet liquidity due to volatility in the banking sector. •Executed sale-leaseback transaction during 2Q23 which yielded $199 million from sale of fixed assets. •Received $174 million from the sale of securities. 9 0.00% 0.50% 1.00% 1.50% 2.00% 2.50% 3.00% 3.50% 4.00% 4.50% 5.00% $0 $500 $1,000 $1,500 $2,000 $2,500 $3,000 $3,500 $4,000 $4,500 $5,000 Average Quarterly Yield Average Balances ($ in mil.) Quarterly Avg. FFS, IB Cash & Repos Avg. FFS, IB Cash & ReposYield 1.75% 2.00% 2.25% 2.50% 2.75% 3.00% 3.25% 3.50% 3.75% $3,000 $3,500 $4,000 $4,500 $5,000 $5,500 $6,000 $6,500 $7,000 Average Quarterly Yield Average Balances ($ in mil.) Quarterly Avg. Securities Avg. SecuritiesYield PNFP’s Asset Quality Has Continued to Hold Up Problem loan metrics remain near historically low levels 10 2Q23 Highlights •Credit metrics show some deterioration but continue to reflect a high-performing loan portfolio •PNFP hiring model aimed at experienced bankers moving seasoned relationships to PNFP is at the core of our strategy •ACL increased to 1.08% given slight change in PNFP credit metrics as well as key economic forecasts Land / Spec A&D Office Hospitality Student Housing Self Storage Senior Housing 1-4 Resi Spec Properties Retail – Grocery Store Anchored Medical Office Retail – Build to Suit 1-4 Resi. Pre-Sold Multifamily Industrial/Warehouse CRE Appetite by Segment 0.09% 0.10% 0.17% 0.01% 0.13% Net Charge Offs 0.55% 0.38% 0.27% 0.09% 0.15% NPA/ Loans & ORE 13.9% 11.2% 6.8% 2.9% 3.3% Classified Asset Ratio 0.21% 0.09% 0.07% 0.11% 0.14% Past Dues as a % of Total Loans 0.00% 2.00% 4.00% 6.00% 8.00% $0 $20 $40 $60 $80 $100 $120 $140 $160 3Q234Q231Q242Q243Q244Q241Q252Q25 Fixed Rate CRE and Construction Maturities June 30, 2023 unpaid principle maturities - 3Q23 to 2Q25 ($ millions) CRE InvestmentConstructionWeighted Avg Interest Rate Office CRE - $1.16 billion outstanding at EOP 2Q23: •Very granular portfolio •Only 3.7% of total loans •Only 15 loans > $20 mm commitments –Avg Commitment of $30.2 mm – Avg. O/S balance of $22.8 mm •No Spec construction, total balance of top 15 is approx. $342 mm •Remaining 557 loans – Avg. outstanding balance of $1.46 million •LTV of ~50%, LTC of ~68%, Stabilized occupancy of ~90% •No past due office CRE at EOP 2Q23 CRE Portfolio Continues to Perform Strength of CRE Portfolio Provides Confidence Should Conditions Weaken 11 92% of Office CRE properties located in PNFP markets •Nashville, Raleigh, Charleston and Charlotte •No Office CRE properties in AZ, CA, IL, MA, MN, NY, TX, DC $5MM -$50MM $50MM to $100MM $100MM -$200MM > $200MM Office CRE Property Locations CRE portfolio refinance risk mitigated somewhat by utilization of increased interest rates during origination underwriting of approx. 2% over borrower note rate (i.e., mortgage constant) $0 $200 $400 $600 $800 $1,000 $1,200 $1,400 $1,600 2Q223Q224Q221Q232Q23 Construction Originations 2Q22 through 2Q23 ($ millions) Warehouse / IndustrialMultifamily1-4 FamilyRetailAll other **: Excluding gains and losses on sales of investment securities and gains on the sale of fixed assets as a result of sale-leaseback transaction. For a reconciliation of these Non-GAAP financial measures to the comparable GAAP measures, see slides 53-54. (dollars in thousands) 2Q231Q232Q22 Linked-Quarter Annualized Growth % Year-over-Year Growth % Service charges $12,180$11,718$11,616 15.8%4.9% Investment services 14,17411,59513,205 89.0%7.3% Trust fees 6,6276,4296,065 12.3%9.3% Insurance commissions 3,2524,4642,554 (>100%)27.3% Gain on mortgage loans sold, net 1,5672,0532,150 (94.7%)(27.1%) Losses on sales of investment securities, net(9,961)-- NMNM Income from equity method investment (BHG)26,92419,07949,465 >100%(45.6%) Gain on sale of fixed assets85,72413565 >100%>100% Other: Interchange and other consumer fees17,22016,84619,216 8.9%(10.4%) Bank-owned life insurance5,7265,5845,124 10.2%11.7% Loan swap fees1,3752,6071,668 (>100%)(17.6%) SBA loans sales 1,4587141,562 >100%(6.7%) Income from other equity investments1,3142,3606,669 (>100%)(80.3%) Other6,2595,9456,143 21.1%1.9% Total noninterest income$173,839$89,529$125,502 >100%38.5% Noninterest income/Average Assets1.54%0.84%1.30% >100%18.5% Adjusted noninterest income**$98,108$89,529$125,502 38.3%(21.8%) Adjusted noninterest Income**/Total Avg. Assets 0.87%0.84%1.30% 14.3%(33.1%) 12 Select Comments •Wealth Management revenues experienced increases primarily to growth in assets under management. •Interchange and other consumer fees up due to commercial credit card usage and an increased emphasis on fee collection. •Gain on sale of fixed assets includes $85.7 million in gains on the sale of fixed assets as a result of the sale- leaseback transaction completed in the second quarter of 2023. Second Quarter Fees Were Up 38.3% Linked Quarter** PNFP continues emphasis on gathering more share of wallet from client base * Excluding the impact of ORE expense (income). ** Excluding the impact of ORE expense (income), securities gains and losses, net, and gains on the sale of fixed assets as a result of sale-leaseback transaction. For a reconciliation of these Non-GAAP financial measures to the comparable GAAP measures, see slide 53-54. 2Q23 Expense results consistent with prior quarter outlook Incentive expense fluctuations correlate with earnings and other performance metrics 13 (dollars in thousands)2Q231Q232Q22 Linked-Quarter Annualized Growth % Yr-over-Yr Growth % Salaries and commissions$88,403$89,320$76,758 (4.1%)15.2% Cash and equity incentives 23,45322,97131,808 8.4%(26.3%) Employee benefits and other20,58723,41718,045 (48.3%)14.1% Total personnel costs$132,443$135,708$126,611 (9.6%)4.6% Equipment and occupancy33,70630,35326,921 44.2%25.2% Other real estate, net589986 (>100%)(32.6%) Marketing and other business development5,6645,9424,759 (18.8%)19.0% Postage and supplies2,8632,8192,320 6.2%23.4% Amortization of intangibles1,7801,7942,051 (3.1%)(13.2%) Other noninterest expense: Deposit related expense11,90410,1167,311 70.7%62.8% Lending related expense11,44113,21614,744 (53.7%)(22.4%) Wealth management expense672833630 (77.3%)6.7% Other noninterest expense11,11010,84710,605 9.7%4.8% Total$35,127$35,012$33,290 1.3%5.5% Total noninterest expense$211,641$211,727$196,038 (0.2%)8.0% Efficiency ratio43.3%52.7%50.3% (71.3%)(13.9%) Expense/Total Average Assets1.87%2.00%2.03% (26.0%)(7.9%) Adjusted noninterest expense *$211,583$211,628$195,952 (0.1%)8.0% Efficiency ratio ** 51.1%52.7%50.2% (12.1%)1.8% Adjusted noninterest expense*/Total avg. assets1.87%2.00%2.03% (26.0%)(7.9%) Headcount (FTE)3,309.03,281.53,074.0 3.4%7.6% Select Comments: •Personnel cost reflect the impact of increased headcount offset by reduced employee benefits costs. Cash and equity incentive costs were basically flat quarter over quarter. •Increases in equipment and occupancy costs a result of the sale-leaseback transaction consummated in the second quarter of 2023 with increased lease costs offset in part by reduced depreciation. •Other noninterest expense increased due to higher FDIC insurance assessments. 78.9% 78.9% 89.4% 84.2% 0%20%40%60%80%100% CET1 less AOCI Mark CET1 less AOCI AND HTM Mark TCE Ratio less HTM Mark Tangible Common Equity Ratio Percentile Rank Select Capital Ratios - Peer Ranking Comparisons Pro Forma with AOCI and HTM marks as of Mar. 31, 2023 Preservation and Growth in Tangible Book Value Remains a Critical Focus Second quarter again reflects focus on growth in TBV/Common Share year-over-year 19.0% 14.8% 14.2% 5.1% 18.4% 2019 2020 2021 2022 2023 (*) Focused on preserving and growing TBV per common share – YOY growth Note: For a reconciliation of these Non-GAAP financial measures to the comparable GAAP measures, see slides 53-54. Peer group noted on slide 55. 14 •Dividends – •Dividends per common share of $0.22 in 2Q23. •Tangible Book Value per Common Share Growth – •Tangible book value per common share at June 30, 2023 was $48.85 up 16.1% from June 30, 2022. •Sale-Leaseback Transaction Impact on Capital •Anticipate retaining incremental capital from execution of sale-leaseback transaction for remainder of 2023. Leases were executed with a 14.5-year base term followed by 2 five-year renewal options.Offsetting lease expense in part is also depreciation savings. Fully deployed, the firm’s net occupancy expense will increase by approximately $15 million in the first twelve- months offset by the increased annual revenue from $199 million in proceeds from the sale of the fixed assets as a result of the sale-leaseback transaction and $174 million received from the sale of the investment securities. $30.26 $34.43 $39.77 $42.08 $48.85 Tangible Book Value per Common Share** Source: S&P Global *: YTD Annualized Calculated Ratios at 3/31/23 8.3% 7.8% 9.0% 9.5% **: excluding goodwill, core deposit and other intangible assets Bankers Healthcare Group BHG’s differentiated model has proven very resilient with continued strong originations, loan sales and yield/spread premium. The gain on sale model continues to provide meaningful earnings to BHG. Additionally, BHG has diversified its funding to several new channels over the last few years further supporting its ability to grow. Capital and reserve levels elevated to support a sound balance sheet. 15 •Quarterly origination and placements continue to be robust even with uncertainty in the depository sector •BHG continues to add new banks to its auction platform with 527 unique bank buyers in 2023 •Banks are attracted to BHG originated loans due to the combination of higher yields and high-quality credit •BHG undertakes several initiatives to create high engagement and stickiness with its bank partners -Quarterly and monthly seminars -Regulatory and risk management advisory services -Access to high-quality technology providers -Regular updates on BHG’s performance and other company initiatives BHG Credit Quality Continues to Impress Sophisticated credit scoring models produce impressive results BHG Continues to Leverage & Grow its Bank Network YTD bank placements see a 23% YOY increase 16 Bank Buyers in Funding Network Quarterly Origination & Placements ($mm)* - 200 400 600 800 0 500 1,000 1,500 2,000 2017201820192020202120222Q23 TTM Total Banks In NetworkUnique Buyers Total banks in network Unique Buyers Each Period * Amounts exclude impact of PPP and SBA loan activity Source: BHG Internal Data BHG Credit Quality Continues to Impress Sophisticated credit scoring models produce impressive results Source: BHG Internal Data (*) As of renewal date of July 6, 2023 BHG Has Diverse, Growing Funding Channels BHG further diversified its funding channels through private whole loan sales in Q2 17 Off B/S Revolving facilities Loan Sale Auction Platform Bank Warehouses Private Whole Loan Sale Secured borrowing Term ABS Deals 3 Warehouse facilities with large banks, providing up to $850mm in funding capacity, with $0 utilization as of June 30, 2023 $2.3bn+ in deals from 7 transactions. Anticipate the 8 th transaction to occur in 2H23 Over $2.1bn in cumulative secured borrowing placements to date. BHG and the investor share in any credit losses Term loans Working Capital Line Approx. 1,600 Banks in the BHG bank network. 740 unique banks have acquired BHG loans over the last 12 months (527 in 2023), approximating $2.4bn in volumes at an average premium of 137% Approximately $550mm in loan sales to 2 large Asset Managers (Q2 2023). No recourse to BHG $725mm recently renewed revolving line of credit(*) to fund near-term cash needs for new loans – 10 banks in facility ($290mm utilized at June 30, 2023) Bank platform rates •Borrower loans sold to banks in each quarter have repriced higher each quarter •Auction platform spreads decreased to 8.7% in 2Q23 consistent with pre- COVID results. •BHG anticipates spreads have likely normalized despite future potential FOMC rate increases BHG Credit Quality Continues to Impress Sophisticated credit scoring models produce impressive results BHG Spreads Consistent with Pre-COVID Results BHG proactively increased borrower coupons to offset higher borrowing rates 18 Borrower Coupon and Bank Buy Rates Blended Portfolio Yield On Balance Sheet & Related on Balance Sheet Funding Costs 13.6% 13.4% 13.9%13.9% 14.0% 14.2% 15.5% 15.8% 17.0%16.7% 4.0% 3.7% 3.4% 3.2% 3.1% 4.4% 5.8% 6.9% 7.6% 8.0% 0.0% 3.0% 6.0% 9.0% 12.0% 15.0% 18.0% 1Q212Q213Q214Q211Q222Q223Q224Q221Q232Q23 Borrower Coupon on Loans Sold to BankBank Buy Rate 12.0% 12.5% 13.4% 14.2% 14.1% 14.6% 15.1% 15.5% 15.4% 15.3% 3.8% 3.2% 2.7% 2.9% 3.0% 3.5% 3.6% 4.6% 5.6% 5.9% 0.0% 3.0% 6.0% 9.0% 12.0% 15.0% 18.0% 1Q212Q213Q214Q211Q222Q223Q224Q221Q232Q23 Loan Interest Income YieldBorrowing Rates On Balance Sheet Size($B) $1.3$1.6$1.9$2.2$2.5$2.9$3.3$3.6$3.81$3.75 On-balance sheet rates •Chart details blended rates for the entire on-balance sheet portfolio at quarter end •On balance sheet spreads decreased by 40bps in 2Q23 •Approximately 90% of balance sheet loans are fixed rates collateralized via an SPV with locked in spreads approximating 9.4% Source: BHG Internal Data Increased Focus on Higher FICO Originations Over 40% of BHG lending YTD has been to FICO scores 750+, their highest ever •BHG continues to refine and tighten its credit underwriting •Losses in certain risk classes, particularly the lower credit tranches of loans made post- COVID (2021 and 1H22), exceeded acceptable internal tolerances prompting more conservative underwriting standards by BHG in 2H22 •Loss reserves strengthened while adding resources in collections in an effort to minimize future losses •Historical credit analysis indicates that 70% of losses occur within the first 36 months of origination 19 Cumulative Net Loss Curves (18 months) FICO Chart Mix $260 $311 $456 $610 $711 $873 $1,449 $1,785 $2,808 $4,145 $4,000 Originations ($ mm) 0%20%40%60%80%100% 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 <650650-699700-749750-799>800 Source: BHG Internal Data BHG Reserves Have Adequate Cushion Relative to Actual Losses Continue to increase both on and off-balance sheet reserves 20 Source: BHG Internal data. (1)Credit loss represents delinquent loans that BHG brought back from bank partners. (2)Prepayment loss represents writing off unamortized premium from gain on sale premium related to loans sold to bank partners. (3)Reserves that BHG creates on its balance sheet against anticipated losses on account of delinquency or pre-payment related to loans sold to bank partners. Contractually BHG is not obligated to purchase delinquent loans from banks. Reserves vs. Actual Losses for Off B/S Loans (TTM) Reserves vs. Actual Losses of On B/S Loans (TTM) (3) (1) (2) 2.3% 2.0% 1.7% 1.4% 1.7% 2.1% 2.7% 3.5% 4.4% 5.3% 2.7% 2.5% 2.5% 2.3% 2.5% 3.0% 3.5% 4.6% 5.2% 6.0% 0.0% 2.0% 4.0% 6.0% 8.0% 1Q212Q213Q214Q211Q222Q223Q224Q221Q232Q23 TTM Net Charge Offs to Avg. Loans HFIAllowance to Loans HFI 3.0% 2.8% 2.8% 2.5% 2.2% 1.8% 1.8% 2.1% 2.5% 3.0% 1.5% 1.7% 1.9% 2.1% 2.3% 2.4% 2.2% 1.8% 1.5% 1.3% 7.6% 6.6% 5.7% 5.0% 4.8% 5.0% 5.3% 5.7% 5.8% 5.9% 0.0% 2.0% 4.0% 6.0% 8.0% 1Q212Q213Q214Q211Q222Q223Q224Q221Q232Q23 Credit Loss %Prepayment Loss %Estimated Subs & Prepays as % of Loans in bank network •Reserves for off-balance sheet exposure created to support loans sold to bank network partners. Reserves have been steadily increasing since 1Q21. •Similarly, reserves to support losses from loans held on the balance sheet have been established pursuant to the inherent loss model (pre-CECL). On October 1, 2023, BHG will adopt the expected loss model, pursuant to CECL, for on-balance sheet loans. BHG anticipates that its allowance for lifetime credit losses associated with CECL implementation will increase to approximately 9.0 percent of on-balance sheet loans. $70 $47 $107 $57 $80 $38 $172 $241 $295 $104 $0 $100 $200 $300 $400 2020202120222023 Q1Q2Q3Q4 $0.9 $1.0 $1.1 $1.1 $1.2 $1.1 $1.8 $2.8 $4.3 $2.1 $0.0 $2.0 $4.0 $6.0 2020202120222023 Q1Q2Q3Q4 •BHG provides loans in as little as 3 days from application to funding •Ample liquidity to fund loan originations via a proprietary unique online auction platform encompassing over 1,580 financial institutions AND through access to the ABS markets in the form of investment grade notes placed with institutional firms •BHG distinguishes itself by: -Targeting professionals through direct mail and other sophisticated marketing techniques using a wide range of proprietary marketing tools -Underwriting applications through proprietary risk models, combining both credit & behavioral data points -Funding and distributing these loans through a one-of-a kind bank marketplace, an extremely successful ABS platform and private loan placements with asset managers •Revenue generation through interest income, origination fees, servicing fees and gain on sale income with a compound annual growth rate of 33% over the last 5 years BHG Financial Overview 2H23 Earnings Expected to be Consistent with Previous Outlook 21 Earnings Before Taxes ($mm) Origination Volume ($bn) Anticipate 2023 fundings of $3.8 B to $4.0 B Anticipate 2023 Earnings before taxes of $175m to $190m Source: BHG Internal Data PNFP Remains Excited about 2023 Optimism as we look to 2024 is gaining traction for PNFP 2023 Outlook – as of July 19, 2023 (Note)2022 Actual Results Y/Y EOP Loan Growth •We estimate low to mid-teens percentage EOP loan growth for 2023 over 2022 year-end balances.Y/Y growth of 24% Y/Y EOP Deposit Growth •We estimate 2023 EOP balances will produce low-teens percentage growth when compared to 2022 end-of-year balances. Y/Y growth of 12% Net interest income •Net interest income growth for 2023 is estimated to be low-teens percentage growth. Anticipate our NIM for 2H23 to decrease modestly from 2Q23 levels. Y/Y growth of 21% Fee income •We estimate that fee growth should approximate high-single digit percentage growth for non- interest income excluding income from BHG and other equity investments, which we are not forecasting given the uncertainty with respect to amounts and timing of any such income and excluding the impact of the gain on the sale of fixed assets as a result of the sale-leaseback transaction and loss on sale of investments securities in 2023. Consistent with last quarter, we estimate BHG fee income will be reduced from 2022 levels by 35-40%. Y/Y growth of 5% (#) BHG growth of 19% Expenses •We estimate total expenses in 2023 to approximate high-single to low-teens percentage increases in 2023 over 2022. This range of increase may be lower or higher based on whether management modifies its recruiting outlook, defers anticipated projects or, given a substantial portion of the firm’s incentives are performance driven, the actual awards for the firm’s incentive plan are meaningfully different than currently anticipated. Y/Y growth of 18% Asset quality •Thus far, our asset quality measurements remain solid as we enter 3Q23. Anticipate consistent performance for the remainder of this year. We believe that ACL as a percentage of total loans will increase modestly in 2H23 should macro factors warrant. New loan charge-offs of 0.13% 22 Note: 2023 outlook is based on current facts and circumstances. Our outlook is subject to change based on numerous factors which may require us to change our outlook at any time. These factors may include, among the other risks described herein, changes in operating strategy, balance sheet positioning or macroeconomic factors such as significant changes in interest rates from those we are modeling. See slide 2 of these materials for more information. (#) Excludes impact of revenues (losses) from BHG and other equity investments 144.2% 136.0% 116.3% 115.2% 113.6% 93.7% 70.8% 68.2% 65.6% 59.2% 46.5% 44.4% 40.6% 40.4% 38.9% 38.8% 34.1% 29.8% 25.4% 13.0% 8.6% -59.8% Total Shareholder Return Performance (Last 10 years through June 30, 2023) 23 PNFP is Engineered to Maximize Total Shareholder Return Over Time Total shareholder return performance outpaces peers over the last ten years Source: S&P Global 24 Highly Correlated to TSR Over TimeNot Highly Correlated to TSR Over Time •Revenue growth•Net interest margin percentage •Reported EPS growth•Cost of funds •Tangible book value accretion•Deposit cost beta •Loan yields •Noninterest-bearing deposits /Total deposits* PNFP is Engineered to Maximize Total Shareholder Return Over Time Since inception, Pinnacle has focused on what we believe matters most *May be negatively correlated (counter intuitive) PNFP Annual Cash Incentive PlanPNFP Long Term Incentive Plan* •Classified assets•NPA ratio •Revenue growth•Tangible book value per share accretion •EPS growth•Return on tangible common equity 25 PNFP is Engineered to Maximize Total Shareholder Return Over Time Pinnacle’s unique compensation structure focuses management and associates on what matters most *Peer relative performance 26 PNFP is Engineered to Maximize Total Shareholder Return Over Time Pinnacle’s relationship-based model yields strong TSR with historically manageable risk Extreme Volatility Over the Last 5 Years •Covid pandemic •Quantitative easing •Extraordinary influx of liquidity •Inflation well above the 2% target •Most dramatic increase in Fed Funds rates in recent history •Quantitative tightening •An inverted yield curve •Precipitous decline in M2 and deposits •Bank failures Source: S&P Global 13.4% CAGR 6.7% CAGR 0% 20% 40% 60% 80% 100% 120% 1Q182Q183Q184Q181Q192Q193Q194Q191Q202Q203Q204Q201Q212Q213Q214Q211Q222Q223Q224Q221Q232Q23 Cumulative 5Y Revenue Per Share Growth PNFPPeer Group 14.0% CAGR 3.3% CAGR 0% 20% 40% 60% 80% 100% 120% 1Q182Q183Q184Q181Q192Q193Q194Q191Q202Q203Q204Q201Q212Q213Q214Q211Q222Q223Q224Q221Q232Q23 Cumulative 5Y TBVPS Growth PNFPPeer Group 18.8% CAGR 8.8% CAGR -25% 0% 25% 50% 75% 100% 125% 150% 175% 1Q182Q183Q184Q181Q192Q193Q194Q191Q202Q203Q204Q201Q212Q213Q214Q211Q222Q223Q224Q221Q232Q23 Cumulative 5Y EPS Growth PNFPPeer Group 27 PNFP is Engineered to Maximize Total Shareholder Return Over Time Pinnacle’s markets are highly advantaged markets Net Domestic Migration April 1, 2020 to July 1, 2022 Tennessee146,403 North Carolina211,867 South Carolina165,948 Washington, D.C.-26,210 Georgia 128,089 Alabama65,355 Kentucky14,102 Total705,554 U.S. Net Domestic Migration April 1, 2020 to July 1, 2022 Source: U.S. Census Bureau 28 Pinnacle’s high “touch and tech” model dominates all of its major competitors PNFP is Engineered to Maximize Total Shareholder Return Over Time Pinnacle’s ability to continue compounding earnings is primarily tied to its sustainable competitive advantage 86% 72% 66% 52% 46% 35% 37% 14% 22% 24% 36% 33% 41% 36% 6% 10% 13% 20% 23% 26% 0%20%40%60%80%100% PromotersPassivesDetractors 29 Distribution of Evaluations ($1-10MM in sales – 1Q 2023) PNFP Regional B Regional A National B National D National A National C Distribution of Evaluations ($10-500MM in sales – 1Q 2023) 84% 74% 67% 50% 42% 31% 13% 22% 26% 32% 37% 50% 3% 5% 7% 18% 21% 19% 0%20%40%60%80%100% PromotersPassivesDetractors PNFP Regional B National D National B National A National C Net Promoter Net Promoter 86 66 56 39 26 12 11 82 69 61 32 21 12 PNFP is Engineered to Maximize Total Shareholder Return Over Time Through up and down cycles, Pinnacle continues to invest in creating raving fans (net promoters) Pinnacle’s net promoter score dominates all of the top 6 competitors across all its markets -4% -12% -9% -17% -20% -22% -23% 42% 35% 29% 33% 27% 25% 23% -30%-10%10%30%50% At Risk of Losing BusinessExpect to Earn More Business 30 $1-10MM PNFP National D Regional B Regional A National B National A National C $10-500MM -8% -10% -15% -21% -27% -24% 50% 35% 26% 30% 26% 20% -40%-20%0%20%40% At Risk of Losing BusinessExpect to Earn More Business PNFP Regional B National D National B National A National C Net Net 38 23 20 16 7 3 0 42 25 11 9 -1 -4 PNFP is Engineered to Maximize Total Shareholder Return Over Time As a result of its differentiated service, Pinnacle maintains momentum with clients – historically the key to sustainable revenue growth Pinnacle’s high “touch and tech” model attracts more and attrites less clients 31 PNFP is Engineered to Maximize Total Shareholder Return Over Time •Revenue growth, reported EPS growth and tangible book value accretion have historically been most highly correlated to TSR over time. •Pinnacle associates and leadership are incented to produce revenue growth, EPS growth and tangible book value accretion relative to peers. •Pinnacle’s relationship-based model has historically produced strong TSR with more manageable risk than many – “the proof is in the pudding.” •Pinnacle’s markets are projected to outperform the nation. •Pinnacle has built a demonstrably differentiated high “touch and tech” model that generally attracts more and attrites less clients – the key to compounded earnings over time – irrespective of economic volatility. Q&A SECOND QUARTER 2023 32 Supplemental Information Slide # •Balance Sheet 34 •Income Statement 50 •Peer Group 55 33 Balance Sheet – Loan Portfolio Segments ($ in millions)Amts. 2Q23 % 2Q23 Amts. 1Q23 % 1Q23 Amts. 2Q22 % 2Q22 Amts. 2Q21 % 2Q21 C&I $10,979.235.3%$10,716.935.4%$9,244.735.1%$6,771.329.6% C&I – Paycheck Protection Program 4.60.0%6.40.0%51.10.2%1,372.96.0% CRE – Owner Occ. 3,845.412.3%3,686.812.2%3,243.012.3%2,817.712.3% Total C&I & O/O CRE $14,829.247.6%$14,410.147.6%$12,538.847.6%$10,961.947.9% CRE – Investment 5,682.718.2%5,556.618.3%4,909.618.6%4,644.520.2% CRE – Multifamily and other 1,488.24.8%1,331.24.4%952.03.6%724.33.2% C&D and Land 3,904.812.5%3,909.012.9%3,386.912.9%2,791.612.2% Total CRE & Construction $11,075.735.5%$10,796.835.6%$9,248.535.1%$8,160.435.6% Consumer RE 4,692.715.1%4,531.315.0%4,047.115.4%3,335.514.6% Consumer and other 555.71.8%559.71.8%498.81.9%440.11.9% Total Other $5,248.416.9%$5,091.016.8%$4,545.817.3%$3,775.616.5% Total loans $31,153.3100%$30,297.9100.0%$26,333.1100.0%$22,897.9100.0% 34 ($ in millions) TOTAL PINNACLEC&I & O/O CRECRE & CONSTRUCTIONOTHER LOANS* Amts. 2Q23 Amts. 2Q22 Amts. 2Q23 Amts. 2Q22 Amts. 2Q23 Amts. 2Q22 Amts. 2Q23 Amts. 2Q22 Nashville $8,429.5$7,741.1$3,586.4$3,420.5$3,071.8$2,793.7$1,771.3$1,526.9 Knoxville 1,977.12,032.51,073.81,194.4478.6460.3424.7377.8 Chattanooga 2,033.81,622.01,227.2931.5380.2355.1426.4335.4 Memphis 2,218.41,838.61,090.71,029.8746.0459.6381.7349.2 Huntsville 55.735.328.819.46.14.020.811.9 Birmingham 526.4246.7489.1222.723.733.213.67.0 Bowling Green 167.5-133.4-32.2-1.9- Louisville 59.2-57.2-2.0--- Total Tennessee /AL /KY $15,467.6$13,532.4 $7,686.6$6,818.4 $4,740.6$4,105.9 $3,040.4$2,608.2 Greensboro/High Point 2,251.12,046.8 726.22751.8 1,203.61,001.6 321.3293.4 Charlotte 3,335.92,896.4839.0787.31,918.81,593.4578.1515.7 Raleigh 1,738.81,560.4310.9280.51,274.01,145.7153.9134.2 Charleston 1,049.5926.1184.9207.0603.1478.7261.5240.4 Greenville 526.8520.8180.0161.0270.9289.175.970.7 Roanoke 775.4619.5352.8222.3304.6285.0118.0112.2 Washington, D.C. 304.778.3193.771.8105.26.55.8- SBA Lending Team 203.2166.1192.3152.18.911.82.02.2 Total Carolina/VA $10,185.4$8,814.4 $2,979.8$2,633.7 $5,689.1$4,811.8 $1,516.5$1,368.8 Atlanta 1,078.3642.3 488.1355.7 496.6227.4 93.659.2 Specialty Lending* 2,337.91,289.1 2,015.81,065.8 90.953.1 231.2170.3 Paycheck Protection Program 4.751.1 4.751.1 ---- Other 2,079.42,003.7 1,654.21,614.1 58.550.3366.7339.3 Total $31,153.3$26,333.1 $14,829.2$12,538.8 $11,075.7$9,248.5 $5,248.4$4,545.8 Balance Sheet – Loan Portfolio – Market Segmentation Note: Percentages noted in red text represent year-over-year growth rates. *: Represents mortgage, associate banking, automobile finance and various other business lines. 35 36 Note: Strategic expansion volumes include certain loans that are recorded in the various geographies (as detailed on slide 35) but for illustration purposes above are included as Strategic Expansion loans due to the relationship managers being assigned to a specialty lending unit. Net Loan Growth – 2Q23 YTD – Strategic Decisions: •Asset Generators – No growth; reduction of $25 million •BHG, JBB and Advocate Capital •Strategic Expansion - $1.0 billion •Atlanta, DC, Alabama, Kentucky, Franchise Finance, Equipment Finance •Recruiting Impact - $514 million •New RMs hired in past 2.5 years other than in our strategic market expansions •Legacy market - $602 million •Nashville, Charlotte, Raleigh, Charleston, Memphis, Chattanooga, etc. Balance Sheet – Loan Portfolio Balance Sheet – Loan Portfolio – CRE Segmentation ($ in millions) Total NOO and MultifamilyTotal ConstructionTotal NOO and Construction Amts. 2Q23 Amts. 1Q23 Amts. 2Q22 Amts. 2Q23 Amts. 1Q23 Amts. 2Q22 Amts. 2Q23 Amts. 1Q23 Amts. 2Q22 Multifamily $1,538.8$1,352.5$996.4$1,106.3$1,116.6$819.4$2,645.1$2,469.1$1,815.8 Hospitality 742.6786.7778.49.75.021.7752.3791.7800.1 Retail 1,537.51,539.11,422.7244.5278.4219.01,782.01,817.51,641.7 Office 970.8907.8850.5236.4245.7232.81,207.21,153.51,083.3 Warehouse 1,298.51,159.8779.6873.8776.6600.32,172.31,936.41,379.9 Medical 776.9794.0713.9158.5155.2133.7935.4949.2847.6 Other 305.8347.9320.11,275.61,331.51,360.01,581.41,679.41,680.1 Total $7,170.9$6,887.8$5,861.6$3,904.8$3,909.0$3,386.9 $11,075.7$10,796.8$9,248.5 Average Ticket Size (in ‘000s) $2,587.8$2,488.3$2,185.2$1,015.3$979.7$725.9 $1,674.1$1,597.6$1,259.5 37 Balance Sheet – Loan Portfolio Lines of Credit ($'s in millions) 12/31/20213/31/20226/30/20229/30/202212/31/20223/31/20236/30/2023 Linked Qtr. Change CRE – Investment & Construction Net Active Balance$3,727.20$4,096.40$4,389.62$4,743.41$5,225.32$5,726.97$6,060.77$333.80 Net Available Credit4,968.765,347.776,145.466,556.196,440.496,081.815,584.45(497.36) Total Exposure8,695.969,444.1810,535.0811,299.6011,665.8111,808.7811,645.22(163.56) % Funded42.9%43.4%41.7%42.0%44.8%48.5%52.0%3.5% C&I and O/O CRE Net Active Balance$4,148.52$4,471.15$4,973.23$5,378.49$5,650.22$5,720.51$5,841.30$120.79 Net Available Credit5,870.426,129.816,147.206,576.167,036.077,424.747,318.09(106.65) Total Exposure10,018.9410,600.9611,120.4311,954.6512,686.2913,145.2413,159.3914.15 % Funded41.4%42.2%44.7%45.0%44.5%43.5%44.4%0.9% Consumer Net Active Balance$1,608.47$1,589.27$1,850.23$1,837.93$1,964.04$1,954.93$2,121.75$166.82 Net Available Credit2,224.752,403.492,477.992,707.662,747.033,035.743,456.94421.20 Total Exposure3,833.223,992.764,328.224,545.594,711.074,990.675,578.69588.02 % Funded42.0%39.8%42.7%40.4%41.7%39.2%38.0%(1.2%) Totals Net Active Balance$9,484.18$10,156.82$11,213.08$11,959.83$12,839.58$13,402.41$14,023.82$621.41 Net Available Credit13,063.9413,881.0814,770.6415,840.0216,223.5916,542.2916,359.48(182.81) Total Exposure22,548.1224,037.9025,983.7227,799.8529,063.1729,944.6930,383.30438.61 % Funded42.1%42.3%43.2%43.0%44.2%44.8%46.2%1.4% 38 Total Allowance for Credit Losses for loans = $337.5 mm or 1.08% of loans at June 30, 2023 (1)Calculation based on end of period loan balance (2)Net charge-off percentage calculation is annualized and in relation to avg. quarterly loan balances Allowance for Credit Losses % of Loans Off-Balance Sheet Total At June 30, 2022$272,4831.03% (1) $23,969$296,452 Net Charge Offs($10,983) 0.16% (2) ($10,983) 3Q Provision$26,588 $500$27,088 At September 30, 2022$288,088 1.04% (1) $24,469$312,557 Net Charge Offs($11,729) 0.17% (2) ($11,729) 4Q Provision$24,306 $500$24,806 At December 31, 2022$300,665 1.04% (1) $24,969$325,634 Net Charge Offs($7,291) 0.10% (2) ($7,291) 1Q Provision$20,467 ($2,000)$18,467 At March 31, 2023$313,841 1.04% (1) $22,969$336,810 Net Charge Offs($9,771) 0.13% (2) ($9,771) 2Q Provision$33,389 ($1,500)$31,889 At June 30, 2023$337,459 1.08% (1) $21,469$358,928 Current Expected Credit Losses 39 Current Expected Credit Losses Allowance for Credit Losses June 30, 2022 September 30, 2022 December 31, 2022 March 31, 2023 June 30, 2023 Amount % of LoansAmount % of LoansAmount % of LoansAmount % of LoansAmount % of Loans Commercial and Industrial $125,7721.36%*$140,2851.44%*$144,3531.41%*$153,6291.43%*$148,4181.35%* Commercial Real Estate 72,1560.79%70,6330.74%67,0960.66%65,5120.62%81,6050.74% Construction and Land Development 28,6810.85%28,6210.81%36,1140.98%37,5990.96%38,8551.00% Consumer Real Estate 33,8830.84%35,4650.83%36,5360.82%39,1600.86%59,3741.27% Consumer and Other 11,9912.40%13,0842.38%16,5662.98%17,9413.21%9,2071.66% Allowance for Credit Losses - Loans $272,4831.04%*$288,0881.04%*$300,6651.04%*$313,8411.04%$337,4591.08% Reserve for unfunded commitments 23,96924,46924,96922,96921,469 Allowance for Credit Losses - Total $296,452$312,557$325,634$336,810$358,928 *: Reserve percentages for C&I and total loans exclude SBA PPP loans. For a reconciliation of this Non-GAAP financial measure to the comparable GAAP measure, see slide 53-54. 40 Asset Quality (*) Excludes past due loans rated substandard ($ in thousands)June 30, 2023 AS A % OF TOTAL LOANS March 31, 2023 AS A % OF TOTAL LOANS June 30, 2022 AS A % OF TOTAL LOANS NPLs and > 90 days Const. and land development $1300.00%$1300.00%$4030.00% Consumer RE $18,7640.06%16,9070.06%9,7540.04% CRE – Owner Occupied 3,0590.01%2,3060.01%2,7560.01% CRE – Non-Owner Occupied 2600.00%7520.00%2,1840.01% Total real estate $22,2130.07%$20,0950.07%$15,0970.06% C&I 26,3550.09%21,1600.07%3,7040.01% Other$9780.00%1,0170.00%4980.00% Total loans $49,5460.16%$42,2720.14%$19,2990.07% Classified loans and ORE Classified commercial loans$125,6530.40%$89,3290.29%$91,5190.35% Doubtful commercial loans-0.00%30.00%-0.00% Other impaired loans19,9020.06%17,8970.06%9,0030.03% 90 days past due and accruing (*)5,2570.02%5,2840.02%3,7120.01% Other real estate2,5550.01%7,8020.03%8,2370.03% Other repossessed assets5490.00%-0.00%-0.00% Total$153,9160.49%$120,3150.40%$112,4710.43% Pinnacle Bank classified asset ratio3.3%2.7%2.9% 41 Balance Sheet – Loan Portfolio 42 -0.10% 0.00% 0.10% 0.20% 0.30% 0.40% 0.50% 0.60% 0.70% CREConstructionC&IConsumer REConsumer and otherTotal Net Charge Off Rates Net Loan Charge Offs by Loan Type 2020202120222023 Balance Sheet – Loan Portfolio – 100/300 Test ($ in thousands) Description2Q231Q234Q223Q222Q221Q22 Loans secured by real estate: Construction, land development, and other loans: 1-4 family residential construction loans$676,742$737,692$772,653$792,046$754,325$701,029 Other construction loans and all land development and other land loans3,228,0323,171,3322,906,8452,756,9252,632,5412,576,000 Loans included in the 100% test$3,904,774$3,909,024$3,679,498$3,548,971$3,386,866$3,277,029 Secured by multifamily (5 or more) residential properties$1,493,237$1,331,249$1,265,165$1,046,914$968,717$744,498 Loans secured by other nonfarm nonresidential properties5,682,6525,556,4845,277,4545,122,1274,909,5984,707,761 Financed real estate not secured by real estate 426,348398,383469,072421,389436,674405,738 Unsecured REITs353,232337,055---- Loans included in the 300% test$11,860,243$11,532,195$10,691,189$10,139,400$9,701,855$9,135,026 Total Risk-Based Capital$4,620,531$4,417,066$4,282,742$4,155,586$3,877,155$3,748,002 % of Total Risk-Based Capital 100% Test – Construction and Land Development85%89%86%85%87%87% 300% Test – Construction and Land Development + NOOCRE + Multifamily257%261%250%244%250%244% 43 CRE Recession Sensitive Sectors Balance: $1.1Bn Professional Office 3.6% of Total Loans 18 th Smallest portfolio among 22-bank peer group 92% Southeast geographic distribution may limit impact of office decline Balance: $528MM Senior Housing 1.7% of Total Loans 58% Weighted Average Loan to Value High growth markets within footprint with above average absorption rates $0 For cash-out bridge financing; Equity remains in the projects 100% Retail Balance: $791.7MM Hotel 2.6% of Total Loans 14 Loans > $20MM: -51.5% Average LTV -73.4% Average LTC -No spec construction Balance: $1.7Bn 5.7% of Total Loans $0 In exposure to malls; increasing obsolescence since 2000s 85% -Single Tenant -Small neighborhood centers -Grocery centers $1.9MM Average retail loan size $0 In losses during the pandemic 92% High quality flags including Hilton, Marriott, Hyatt, & InterContinental Limited Service, Extended Stay, & Economy 78% 91% Below $5 Million 3 Largest markets are Nashville, Charlotte, & Charleston 25% ~ Even distribution between AL, IL, SNF, & CCRC 4.4% Received 4013 loan modifications during the pandemic and $0 in losses Key CRE Asset Classes Balance Sheet – Deposit Portfolio – Market Segmentation ($ in millions) TOTAL DEPOSITSCORE DEPOSITSNONCORE DEPOSITS TOTAL PINNACLETRANSACTION AND MMDACDsPUBLIC FUNDS and OTHER DEPOSITS 2Q232Q222Q232Q222Q232Q222Q232Q22 Nashville $14,251.9$12,899.8$12,618.1$12,355.1$733.0$358.8$900.8$185.9 Knoxville 2,534.72,446.02,273.72,344.0196.465.664.636.4 Memphis 2,386.92,240.82,002.22,046.9228.396.8156.497.1 Chattanooga 2,327.61,883.22,018.41,770.2203.255.3106.057.7 Birmingham 251.033.8150.433.81.4-99.2- Huntsville 301.2215.6274.5214.14.51.222.20.3 Louisville 17.8-6.8-11.0--- Bowling Green 72.4-70.4-1.0-1.0- Total TN/AL $22,143.5$19,719.2$19,414.5$18,764.1$1,378.8$577.7$1,350.2$377.4 Greensboro/High Point 3,063.52,992.72,525.22,676.5353.4225.5184.990.6 Charlotte 2,072.41,955.21,772.91,781.1195.3125.5104.248.6 Charleston 1,640.51,492.21,382.71,372.5186.297.071.622.7 Raleigh 1,068.9983.4964.8936.682.736.321.410.5 Roanoke 961.3966.1808.0882.6112.066.341.317.2 Greenville 473.8458.8352.7393.082.446.338.719.5 Washington, D.C. 637.76.1531.66.178.8-27.3- Total Carolinas / VA $9,918.1$8,854.5$8,337.9$8,048.4$1,090.8$596.9$489.4$209.1 Atlanta 534.3321.2505.3316.29.92.919.12.1 Specialty Lending 821.9601.9815.4599.23.81.22.71.6 Other 4,304.83,098.51,204.51,094.519.810.23,080.51,993.8 Total $37,722.6$32,595.3$30,277.6$28,822.4$2,503.1$1,188.9$4,941.9$2,583.8 Note: Percentages noted in red text represent year-over-year growth rates. 45 0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 30.0% 35.0% EOP Noninterest Bearing Deposits to Total Deposits Balance Sheet - Deposit Portfolio 46 36% 34% 43% 39% 33% 28% 0.00% 10.00% 20.00% 30.00% 40.00% 50.00% 20192020202120221Q232Q23 Ratio of EOP Uninsured and/or Uncollateralized Deposits to Total Deposits $0 $10,000 $20,000 $30,000 $40,000 $50,000 $60,000 $70,000 $80,000 $90,000 20192020202120221Q232Q23 Avg. Deposit Acct Size (in millions) Estimated Liquidity Available for Uninsured Deposits ($’s in millions) Balances at Jun. 30, 2023 Total Deposits $ 37,723 Less: Insured and/or Collateralized Deposits27,036 Total Deposits – Uninsured / Uncollateralized$ 10,686 Estimated Liquidity Available for Uninsured Deposits: Est. Immediately Available through Cash, Fed Discount Window, BTFP program 9,730 Est. Other sources – FHLB, Unpledged bonds, Reciprocal deposit programs 10,098 Estimated Liquidity Available for Uninsured Deposits$ 19,828 Coverage Ratio of Uninsured and Uncollateralized Deposits1.86x Avg. Acct SizeDec. 31, 2019Dec. 31, 2022Jun. 30, 2023 Consumer$30,700$32,700$30,471 Commercial$133,500$189,400$193,137 All Deposits$60,017$81,042$79,927 Balance Sheet – Bond Portfolio Statistics ●Investments to Total Assets of 14.1% 14.4% 1.7% 26.2% 5.4% 1.9% 50.5% Agency/TreasuryCorporatesMBSAsset BackedCMOsMunicipals Portfolio: June 30, 2023 Total Investments $6.6 billion Net Unrealized Gain (Loss) ($176.0) million QuarterDurationAvg. Yield- TE 2Q234.5%3.7% 1Q234.4%3.5% 4Q224.4%3.2% 3Q224.9%2.7% 2Q224.6%2.3% 1Q224.4%2.1% 4Q214.1%2.1% 3Q214.5%2.0% 2Q214.3%2.3% 1Q214.8%2.3% 4Q204.4%2.3% 47 Investment Securities Segmentation Note: See slide 55 for peer group utilized in the above analysis. Source: S&P Global 72% 70% 71% 66% 72% 28% 30% 29% 34% 28% Jun. 2022Sep. 2022Dec. 2022Mar. 2023Jun. 2023 Effective Bond Portfolio Composition End of Period Fixed RateVariable Rate Balance Sheet – Bond Portfolio 48 3.66 14.1 10.0 15.0 20.0 25.0 30.0 0.00 0.50 1.00 1.50 2.00 2.50 3.00 3.50 4.00 2018Q12018Q22018Q32018Q42019Q12019Q22019Q32019Q42020Q12020Q22020Q32020Q42021Q12021Q22021Q32021Q42022Q12022Q22022Q32022Q42023Q12023Q2 % of Total Assets Bond Yields PNFP - Bond YieldsPeer Median - Bond Yields PNFP - % of Total AssetsPeer Median - % of Total Assets Interest Rate Sensitivity 49 Note: We believe our interest rate sensitivity modeling is consistent with regulatory requirements.Our interest rate sensitivity modeling incorporates a number of broad assumptions for earnings simulation, including loan and deposit re-pricing characteristics, the rate of loan prepayments, static balance sheet, etc. Management periodically reviews these assumptions for accuracy based on historical data and future expectations and may change assumptions over time based on better data sources, improved modeling techniques, regulatory changes, etc. Our ALCO policy requires that the base scenario assumes ALL rates remain flat for the prescribed time periods and is the scenario, including those above, to which all others are compared in order to measure the change in net interest income. Policy limits are applied to the results of certain modeling scenarios. While the primary policy scenarios focus is on a twelve-month time frame, including the information above, for the earnings simulations model, longer time horizons are also modeled but are not shown herein. *Most recent IRR analysis conducted as of 5/31/23 *Most recent IRR analysis conducted as of 5/31/23 -1.2% 0.2% 0.4% 0.7% 1.6% 1.2% 0.3% 1.0% 1.5% 1.8% -0.2% -0.7% -0.8% -1.1% -3.6% -2.8% -0.6% -0.6% -1.2% -1.8% -5.0% -3.0% -1.0% 1.0% 3.0% 5.0% 1Q212Q213Q214Q211Q222Q223Q224Q221Q232Q23* Net Interest Income % D Rate Ramp Scenarios +100bp Ramp-100bp Ramp -1.0% 1.9% 2.2% 2.8% 3.7% 2.9% 0.6% 2.1% 2.5% 3.0% -1.8% -2.0% -2.1% -2.5% -5.6% -7.7% -1.8% -1.0% -2.0% -2.9% -10.0% -8.0% -6.0% -4.0% -2.0% 0.0% 2.0% 4.0% 6.0% 8.0% 10.0% 1Q212Q213Q214Q211Q222Q223Q224Q221Q232Q23* Net Interest Income % D Rate Shock Scenarios +100bp Shock-100bp Shock *: excluding gains and losses on sales of investment securities and gain on sale of fixed assets as a result of sale-leaseback transaction. For a reconciliation of these Non-GAAP financial measure to the comparable GAAP measure, see slides 53-54. Note: See slide 55 for peer group utilized in the above analysis. Peer group calculated by aggregating total peer revenues by total peer weighted avg. shares for each quarter. Source: S&P Global 50 Income Statement – Revenue Per Share $11.10 $11.43 $11.74 $12.13 $12.42 $12.92 $13.44 $13.54 $13.87 $14.05 $14.35 $15.07 $15.78 $16.51 $17.07 $17.50 $17.85 $18.62 $19.51 $20.33 $21.09 $21.39 8.8% 11.3% 11.9% 13.0% 11.9% 13.0% 14.5% 11.6% 11.6% 8.7% 6.8% 11.3% 13.8% 17.5% 19.0% 16.2% 13.1% 12.8% 14.3% 16.2% 18.2% 14.9% 7.3% 6.4% 6.7% 6.2% 4.6% 4.8% 4.3% 4.4% 5.8% 6.7% 6.6% 5.3% 6.5% 5.8% 3.4% 0.5% -0.3% 1.3% 4.5% 8.9% 14.7% -2.0% 0.0% 2.0% 4.0% 6.0% 8.0% 10.0% 12.0% 14.0% 16.0% 18.0% 20.0% $10.00 $11.00 $12.00 $13.00 $14.00 $15.00 $16.00 $17.00 $18.00 $19.00 $20.00 $21.00 $22.00 Y/Y Revenue per Share Growth Revenue per Share LTM Revenue Per Share Growth* vs. Peers PNFP LTM/Revenue/SharePNFP Y/Y GrowthPeer Median Y/Y Growth ($'s in thousands) 2019202020212022YTD 2023 PPNR Trends Net interest income $ 766,142$821,788$932,401$1,129,293$627,624 Noninterest income 263,826317,840395,734416,124263,368 Noninterest expense (505,148)(564,455)(660,104)(779,999)(423,368) PPNR before adjustments$ 524,820$575,173$668,031$765,418$467,624 Adjustments to PPNR Investment (gains) and losses$ 5,941($986)($759)($156)$9,961 Gain on sale of fixed assets as a result of sale-leaseback transaction ----(85,692) Loss on sale of non-prime automobile portfolio1,536---- ORE expense (benefit)4,2288,555(712)280157 FHLB restructuring charges-15,168--- Hedge termination charges-4,673--- Branch rationalization charges3,189---- Adjusted PPNR $ 539,714$602,583$666,560$765,542$392,050 Adjusted PPNR growth rate*8.9%11.6%10.6%14.8%2.4% Net PPNR per share*$6.84$7.60$8.80$10.05$12.40 Adjustments to PPNR per share*$0.19$0.36$0.02$0.01$2.00 Adjusted Net PPNR per share*$ 7.03$7.96$8.78$10.06$10.40 PPNR/share growth rate9.8%13.2%10.3%14.6%3.4% Income Statement – PPNR $0 $100 $200 $300 $400 $500 $600 $700 $800 Adjusted PPNR 51 *: YTD Annualized BHG Financials Source: BHG Internal Data, unaudited. 52 ($'s in thousands)2Q 20231Q 20232Q 2022 Interes t Income144,142$ 142,514$ 98,089$ Interes t Expens e48,423 46,837 20,989 Provi s i on for Loan Los s es71,082 82,280 35,935 Net Interest Income After Provision for Loan Losses24,636 13,397 41,165 Gai ns on Loan Sal es & Ori gi nati on Fees150,864 152,256 189,982 Other Income16,327 7,181 9,876 Total Net Revenues191,827 172,834 241,023 Gross Revenues311,333 301,951 297,947 Sal ary and Benefi ts61,403 60,294 61,494 Marketi ng Expens es32,949 30,609 39,035 Portfol i o Expens es11,480 9,953 7,999 Other Expens es28,599 25,334 25,288 Total Operating Expenses134,432 126,191 133,816 Net Earnings57,395$ 46,643$ 107,207$ Profitability Statistics Earnings to Gross Revenues18.44%15.45%35.98% Portfolio Mgmt Expense to Gross Revenues42.07%46.06%21.79% Operating Expenses to Gross Revenues39.49%38.50%42.23% ($'s in thousands) At Jun 30, 2023 At Mar 31, 2023 At Jun 30, 2022 Cash and Cash Equivalents590,930 591,246 454,982 Loans Held for Investment3,268,535 3,429,382 2,533,138 Allowance for Loan Losses(195,682) (178,048) (75,772) Loans Held for Sale481,901 378,227 323,351 Premises and Equipment85,143 94,269 90,258 Other Assets199,496 154,956 139,422 Total Assets4,430,323$ 4,470,032$ 3,465,380$ Estimated loan substitutions & prepayments369,011 349,723 234,945 Secured Borrowings2,905,015 2,940,541 2,101,578 Notes Payable314,802 404,247 462,898 Borrower Reimbursable Fee159,834 152,419 123,267 Other Liabilities83,037 69,723 57,961 3,831,699$ 3,916,653$ 2,980,649$ Equity598,623 553,379 484,731 Total Liabilities & Stockholders Equity4,430,323$ 4,470,032$ 3,465,380$ Loan Liability at Other Banks6,282,769 6,019,649 4,719,341 Soundness Statistics: Cash to Assets13.34%13.23%13.13% Equity to Assets13.51%12.38%13.99% 5.87%5.81%4.98% Allowance to Loans Held for Investment5.99%5.19%2.99% Total Reserves against Total Outstanding5.91%5.69%4.33% Total Liabilities Est. loan subs & prepays as % of Loans at Other Banks Income Statement Reconciliation of Non-GAAP Financial Measures 53 Income Statement Reconciliation of Non-GAAP Financial Measures 54 2023 Peer Group 55 Institution NameTickerCity, State Pinnacle Financial Partners, Inc.PNFPNashville, TN Associated Banc-corpASBGreen Bay, WI Bank OZKOZKLittle Rock, AR Bank United Inc.BKUHouston, TX Cadence BankCADETupelo, MS Comerica Inc. CMADallas, TX Commerce Bancshares, Inc.CBSHKansas City, MO Cullen/Frost Bankers, Inc.CFRSan Antonio, TX F.N.B. CorporationFNBPittsburgh, PA First Horizon Corp. FHNMemphis, TN Fulton Financial CorporationFULTLancaster, PA Hancock Whitney CorporationHWCGulfport, MS PacWest BancorpPACWBeverly Hills, CA Prosperity Bancshares, Inc.PBHouston, TX Simmons First National CorporationSFNCPine Bluff, AR South State CorporationSSBWinter Haven, FL Synovus Financial Corp.SNVColumbus, GA UMB Financial CorporationUMBFKansas City, MO United Bankshares Inc. UBSICharleston, WV Valley National BancorpVLYNew York, NY Wintrust Financial CorporationWTFCRosemont, IL Zions Bancorp. NAZIONSalt Lake City, UT Investor Call SECOND QUARTER 2023 M. TERRY TURNER, PRESIDENT AND CEO HAROLD R. CARPENTER, EVP AND CFO

Investor Call FIRST QUARTER 2022 M. TERRY TURNER, PRESIDENT AND CEO HAROLD R. CARPENTER, EVP AND CFO April 19, 2022 Time: 8:30 AM CT Webcast: www.pnfp.com(investor relations) Audio only: 877-602-7944 Safe Harbor Statements Forward Looking Statements All statements, other than statements of historical fact, included in this presentation, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The words "expect," "anticipate," "intend," "may," "should," "plan," "believe," "seek," "estimate" and similar expressions are intended to identify such forward- looking statements, but other statements not based on historical information may also be considered forward-looking statements. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could cause the actual results to differ materially from the statements, including, but not limited to:(i) deterioration in the financial condition of borrowers of Pinnacle Bank and its subsidiaries or BHG resulting in significant increases in loan losses and provisions for those losses and, in the case of BHG, substitutions; (ii) the effectsof new outbreaks of COVID-19, including actions taken by governmental officials to curb the spread of the virus, and the resulting impact on general economic and financial market conditions and on Pinnacle Financial's and its customers' business, results of operations, asset quality and financial condition; (iii) further public acceptance of the booster shots of the vaccines that were developed against the virus as well as the decisions of governmental agencies with respect to vaccines including recommendations related to booster shots and requirements that seek to mandate that individuals receive or employers require that their employees receive the vaccine; (iv) those vaccines' efficacy against the virus, including new variants; (v) fluctuations or differences in interest rates on loans or deposits from those that Pinnacle Financial is modeling or anticipating, including as a result of Pinnacle Bank's inability to better match deposit rates with the changes in the short-term rate environment, or that affect the yield curve; (vi) the inability of Pinnacle Financial, or entities in which it has significant investments, like BHG, to maintain the long-term historical growth rate of its, or such entities', loan portfolio; (vii) changes in loan underwriting, credit review or loss reserve policies associated with economic conditions, examination conclusions, or regulatory developments;(viii) effectiveness of Pinnacle Financial's asset management activities in improving, resolving or liquidating lower-quality assets; (ix) the impact of competition with other financial institutions, including pricing pressures and the resulting impact on Pinnacle Financial’s results, including as a result of compression to net interest margin; (x) adverse conditions in the national or local economies including in Pinnacle Financial's markets throughout Tennessee, North Carolina, South Carolina, Georgia, Alabama and Virginia,particularly in commercial and residential real estate markets, including the negative impact of inflationary pressures on our customers and their businesses; (xi) the results of regulatory examinations; (xii) Pinnacle Financial's ability to identify potential candidates for, consummate, and achieve synergies from, potential future acquisitions; (xiii) difficulties and delays in integrating acquired businesses or fully realizing costs savings and other benefits from acquisitions; (xiv) BHG's ability to profitably grow its business and successfully execute on its business plans; (xv) risks of expansion into new geographic or product markets; (xvi) the ability to grow and retain low-cost core deposits and retain large, uninsured deposits, including during times when Pinnacle Bank is seeking to lower rates it pays on deposits; (xvii) any matter that would cause Pinnacle Financial to conclude that there was impairment of any asset, including goodwill or other intangible assets; (xviii) the ineffectiveness of Pinnacle Bank's hedging strategies, or the unexpected counterparty failure or hedge failure of the underlying hedges; (xix) reduced ability to attract additional financial advisors (or failure of such advisors to cause their clients to switch to Pinnacle Bank), to retain financial advisors(including as a result of the competitive environment for associates) or otherwise to attract customers from other financial institutions; (xx) deterioration in the valuation of other real estate owned and increased expenses associated therewith; (xxi) inability to comply with regulatory capital requirements, including those resulting from changes to capital calculation methodologies, required capital maintenance levels or regulatory requests or directives, particularly if Pinnacle Bank's level of applicable commercial real estate loans were to exceed percentage levels of total capital in guidelines recommended by its regulators; (xxii) approval of the declaration of any dividend by Pinnacle Financial's board of directors; (xxiii) the vulnerability of Pinnacle Bank's network and online banking portals, and the systems of parties with whom Pinnacle Bank contracts, to unauthorized access, computer viruses, phishing schemes, spam attacks, human error, natural disasters, power loss and other security breaches; (xxiv) the possibility of increased compliance and operational costs as a result of increased regulatory oversight (including by the Consumer Financial Protection Bureau), including oversight of companies in which Pinnacle Financial or Pinnacle Bank have significant investments, like BHG, and the development of additional banking products for Pinnacle Bank's corporate and consumer clients; (xxv) the risks associated with Pinnacle Financial and Pinnacle Bank being a minority investor in BHG, including the risk that the owners of a majority of the equity interests in BHG decide to sell the company or all or a portion of their ownership interests in BHG (triggering a similar sale by Pinnacle Financial and Pinnacle Bank) if not prohibited from doing so by Pinnacle Financial or Pinnacle Bank;(xxvi) changes in state and federal legislation, regulations or policies applicable to banks and other financial service providers, like BHG, including regulatory or legislative developments; (xxvii) fluctuations in the valuations of Pinnacle Financial's equity investments and the ultimate success of such investments; (xxiii) the availability of and access to capital; (xxix) adverse results (including costs, fines, reputational harm, inability to obtainnecessary approvals and/or other negative effects) from current or future litigation, regulatory examinations or other legal and/or regulatory actions, including as a result of Pinnacle Bank's participation in and execution of government programs related to the COVID-19 pandemic; and (xxx) general competitive, economic, political and market conditions. Additional factors which could affect the forward lookingstatements can be found in Pinnacle Financial's Annual Report on Form 10-K for the year ended December 31, 2021, and subsequently filed Quarterly Reports on Form 10-Q and Current Reports on Form 8-K filed with the SEC and available on the SEC's website at http://www.sec.gov. Pinnacle Financial disclaims any obligation to update or revise any forward-looking statements contained in this presentation, which speak only as of the date hereof, whether as a result of new information, future eventsorotherwise. 2 Safe Harbor Statements Non-GAAP Financial Matters This presentation contains certain non-GAAP financial measures, including, without limitation, earnings per diluted common share, PPNR, efficiency ratio and the ratio of noninterest expense to average assets, excluding in certain instances the impact of expenses related to other real estate owned, gains or losses on sale of investment securities, FHLB restructuring charges, hedge termination charges and other matters for the accounting periods presented. This presentation also includes non-GAAP financial measures which exclude the impact of loans originated under the PPP. This presentation may also contain certain other non-GAAP capital ratios and performance measures that exclude the impact of goodwill and core depositintangibles associated with Pinnacle Financial's acquisitions of BNC, Avenue Bank, Magna Bank, CapitalMark Bank & Trust, Mid-America Bancshares, Inc., Cavalry Bancorp, Inc. and other acquisitions which collectively are less material to the non-GAAP measure as well as the impact of Pinnacle Financial's Series B Preferred Stock. The presentation of the non-GAAP financial information is not intended to be considered in isolation or as a substitute for any measure prepared in accordance with GAAP. Because non-GAAP financial measures presented in this presentation are not measurements determined in accordance with GAAP and are susceptible to varying calculations, these non-GAAP financial measures, as presented, may not be comparable to other similarly titled measures presented by other companies. Pinnacle Financial believes that these non-GAAP financial measures facilitate making period-to-period comparisons and are meaningful indications of its operating performance. In addition, because intangible assets such as goodwill and the core deposit intangible, and the other items excluded each vary extensively from company to company, Pinnacle Financial believes that the presentation of this information allows investors to more easily compare Pinnacle Financial's results to the results of other companies. Pinnacle Financial's management utilizes this non-GAAP financial information to compare Pinnacle Financial's operating performance for 2022 versus certain periods in 2021 and to internally prepared projections. 3 1Q22 Financial Dashboard Key success measures including core loan growth, core deposit growth, net interest income growth, fee income growth, and asset quality all continue to be strong. 4 NCOs Classified Asset Ratio NPA/ Loans & ORE 1Q22 Summary Results of Key GAAPMeasures 5 PNFP’s Median Quarterly Performance of 0.46% PNFP’s Median Quarterly Performance of 0.10% Total RevenuesFD EPS Net Income Available to Common Shareholders Total Loans (millions) Total Deposits (millions) Book Value per Common Share PNFP’s Median Quarterly Performance of 12.0% NCOs Classified Asset Ratio NPA/ Loans & ORE Tangible Book Value per Share** Total Core Deposits (millions) Total Loans (millions) Adjusted Pre-Tax Pre-Provision Net Income* FD EPS* CAGR 9.3% Total Revenues* CAGR 11.2% 1Q22 Summary Results of Key Non-GAAPMeasures *: excluding merger-related charges, gains and losses on sales of investment securities, ORE expense (income), loss on sale of non-prime automobile portfolio, branch rationalization charges, FHLB restructuring charges and hedge termination charges. PPNR represents pre-tax, pre-provision net revenues. **: excluding goodwill, core deposit and other intangible assets Note: For a reconciliation of these Non-GAAP financial measures to the comparable GAAP measures, see slides 56-57. CAGR 10.0% CAGR 18.5% CAGR 13.6% CAGR 8.2% 6 PNFP’s Median Quarterly Performance of 12.0% PNFP’s Median Quarterly Performance of 0.10% PNFP’s Median Quarterly Performance of 0.46% 1Q22 Financial Information 1Q22financial results reflect PNFP’s success in seizing the “once-in-a-generation” opportunity to gather valuable talent and clients from vulnerable competitors. In spite ofdeclining PPP loan balances, loan growth was substantial in the first quarter, as wascore deposit growth, net interest income growth, and fee growth. 7 $15,957 $16,730 $17,259 $17,630 $17,938 $18,611 $19,217 $19,600 $20,009 $22,257 $22,493 $22,525 $22,848 $23,180 $22,986 $23,226 $23,849 3.94% 3.20% 3.40% 3.60% 3.80% 4.00% 4.20% 4.40% 4.60% 4.80% 5.00% 5.20% 5.40% $2,000 $4,000 $6,000 $8,000 $10,000 $12,000 $14,000 $16,000 $18,000 $20,000 $22,000 $24,000 Loan Yields Average Loans (millions) PNFP Linked-Quarter Annualized Average Loan Growth was 10.7% in 1Q22 Linked-quarter annualized average loan growth ex-PPP was 15.8% Average Loan Growth and Loan Yields 8 1Q22 Loan Highlights •EOP linked-quarter annualized loan growth of 22.5% excluding decline in PPP. •$8.6 billion in floating rate loans are subject to future rate increases. Includedinthe$8.6 billion, are $2.2 billion which will move above floor rates with a 50bp increase in rates. •Estimating mid-teens percentage loan growth in 2022 given current economic conditions, recent hires and momentum in our new markets. $8,594 $1,150 $1,069 $941 $193 $291 $0 $2,000 $4,000 $6,000 $8,000 $10,000 No Floor1-25 bps26-50 bps51-75 bps76-100 bps> 100 bps Loan Balances (millions) LIBOR/SOFR/Prime ($12.2 billion): -$5.15 billion w/no floor -$3.44 billion “out of the money” floors -$4.48 billion “in the money” floors 13.3% 11.7% 4.2% 11.7% 22.5% 0.0% 5.0% 10.0% 15.0% 20.0% 25.0% Organic EOP Loan Growth^ ^: Excludes PPP loans *: YTD Annualized 11.1% 6.8% 33.5% 24.7% 14.7% 0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 30.0% 35.0% 40.0% Annual Core Deposit Growth #: YTD annualized. Core Deposit Inflows Continued to Drive Balance Sheet Growth Core deposit growth continues to outperform expectations at 14.7% linked-quarter annualized Core Deposit Growth Rates 9 1Q22 Deposit Highlights •Linked-quarter annualized core deposit growth in 1Q22 of 14.7% over 4Q21. •Average deposit costs decreased to 0.13% for the quarter. EOP rates up ~2 basis points since mid-March FOMC meeting. •Continue to engage relationship managers to manage deposit rate beta in a rising rate environment as we seek to outperform prior up-rate cycles. Deposit RateTranches Mar. 31, 2021 EOP Rates Dec. 31, 2021 EOP Rates Mar. 31, 2022 EOP Rates Mar. 31, 2022 % of Totals Noninterestbearing---------34.0% Interest-bearing: Rate sheet 0.06%0.05%0.06%18.0% Negotiated 0.26%0.20%0.21%36.0% Indexed 0.26%0.26%0.43%5.6% CDs 0.89%0.49%0.49%6.4% TotalIBD 0.31%0.20%0.22%66.0% Total 0.22%0.13%0.14%100.0% $16,281 $16,949 $18,113 $18,368 $18,358 $18,865 $19,778 $20,079 $20,680 $24,807 $26,352 $27,193 $27,621 $28,014 $28,740 $30,034 $31,539 0.13% 0.00% 0.25% 0.50% 0.75% 1.00% 1.25% 1.50% $2,000 $6,000 $10,000 $14,000 $18,000 $22,000 $26,000 $30,000 $34,000 Deposit Costs Average Deposits (millions) Average Deposit Growth and Costs Avg. DepositsCost of Deposits Excess Liquidity Continues to Impact NIM Rapid loan demand should serve to reduce elevated liquidity levels in 2022 1Q22 Liquidity Highlights •Core deposit inflows and PPP payoff activity continued to drive higher liquidity levels in 1Q22 •Average FFS, IB cash & Repo balances increased to 13.3% of earning assets in 1Q22 from 12.5% in 4Q21 and 10.4% in 1Q21 •Will remain disciplined and opportunistic with respect to deploying liquidity outside of loan growth. Focus on floating rate instruments on short-end of curve that should not negatively impact TBV meaningfully *Adjusted NIM excludes the impact of liquidity build and the PPP lending programs. See slides 45-52 for a reconciliation of reported NIM to adjusted NIM. 10 3.28% 2.87% 2.82% 2.97% 3.02% 3.08% 3.03% 2.96% 2.89% 3.19% 3.22% 3.27% 3.29% 3.25% 3.21% 3.20% 3.18% 2.70% 2.80% 2.90% 3.00% 3.10% 3.20% 3.30% 3.40% 1Q202Q203Q204Q201Q212Q213Q214Q211Q22 Reported NIM vs. Adjusted NIM NIM (GAAP)NIM (Adjusted)* 2.00% 2.25% 2.50% 2.75% 3.00% 3.25% 3.50% $2,500 $3,000 $3,500 $4,000 $4,500 $5,000 $5,500 $6,000 $6,500 1Q202Q203Q204Q201Q212Q213Q214Q211Q22 Average Quarterly Yield Average Balances (millions) Quarterly Avg. Securities Avg. SecuritiesYield 0.00% 0.50% 1.00% 1.50% 2.00% 2.50% $0 $500 $1,000 $1,500 $2,000 $2,500 $3,000 $3,500 $4,000 $4,500 $5,000 1Q202Q203Q204Q201Q212Q213Q214Q211Q22 Average Quarterly Yield Average Balances (millions) Quarterly Avg. FFS, IB Cash & Repos Avg. FFS, IB Cash & ReposYield PNFP’s Asset Quality Has Continued to Hold Up Asset quality metrics continue to break records 11 1Q22 Credit Highlights •Several credit measurements continue to improve to all time records and remain in top-quartile performance when compared to peers. •4013 modifications stand at $660mm at 1Q22 compared to $835mm at 1Q21. •ACL to total loans decreased to 1.07%. Further reductions are likely if macro factors continue to improve, and the credit performance of our portfolio remains strong. 0.10% 0.08% 0.20%0.20% 0.05% Net Charge-offs 0.58% 0.61% 0.48% 0.36% 0.14% NPA/ Loans & ORE 12.6% 13.0% 12.0% 7.3% 3.6% Classified Asset Ratio 0.24% 0.22% 0.17% 0.09% 0.11% Past Dues as a % of Total Loans 1Q224Q211Q21 Linked-Quarter Annualized Growth % Year-over-Year Growth % Service charges $11,030$12,663$8,307 (51.6%)32.8% Investment services 10,69111,0818,191 (14.1%)30.5% Trust fees 5,9735,9264,687 3.2%27.4% Insurance commissions 4,0362,3283,225 >100%25.1% Gain on mortgage loans sold, net 4,0664,24413,666 (16.8%)(70.2%) Investment gains and losses, net(61)393- NMNM Income from equity method investment (BHG)33,65530,84428,950 36.5%16.3% Other: Interchange and other consumer fees14,63015,22812,592 (15.7%)16.2% Bank-owned life insurance4,6364,7324,726 (8.1%)(1.9%) Loan swap fees1,7741,947903 (35.5%)96.5% SBA loans sales 3,0962,7391,855 52.1%66.9% Income from other equity investments1,7104,1093,440 (>100%)(50.3%) Other8,2604,4892,167 >100%>100% Total noninterest income$103,496$100,723$92,709 11.0%11.6% Noninterest income/Average Assets1.09%1.08%1.08% 3.7%0.9% Noninterest income**$103,557$100,330$92,709 12.9%11.7% Noninterest Income**/Total Average Assets1.09%1.07%1.08% 7.5%0.9% Noninterest Income**/Total Average Assets^1.09%1.09%1.15% -(5.2%) **:Excluding gains and losses on sales of investment securities. For a reconciliation of these Non-GAAP financial measures to the comparable GAAP measures, see slides 56-57. ^: Excluding the impact of PPP loans on average assets PNFP GrowsFees 11.7% YOY PNFP continuesfocus on gathering more share of wallet from client base 12 •Wealth management groups are producing outsized growth primarily due to an increased roster of wealth management advisors. •Income from BHG remains strong. Linked-quarter revenues are up in 1Q22, with year-over-year revenues up more than 16%. •Service charges and interchange fees were down linked-quarter due to seasonality. •Residential mortgage business is negatively impacted by an increase in interest rates, housing costs increases and significant reductions in housing inventories. •Other noninterest income for 1Q22 includes the $5.5 million net gain on remeasurement of our investment in JB&B Capital, LLC in Knoxville, TN triggered by our acquisition of the 80% of the company we did not previously own. *:Excluding the impact of ORE expense (income). **: Excluding the impact of ORE expense (income) and securities gains and losses, net. For a reconciliation of these Non-GAAP financial measures to the comparable GAAP measures, see slide 56-57. Our Ability to Attract Talent and Extend Markets Drives Expense Increases Incentive expenses fluctuations positively correlate with earnings 13 1Q224Q211Q21 Linked-Quarter Annualized Growth % Year-over-Year Growth % Salaries and employee benefits: Salaries$69,142$64,182$57,589 30.9%20.1% Commissions6,2226,0134,723 13.9%31.7% Cash and equity incentives 25,89424,18723,642 28.2%9.5% Employee benefits and other20,59415,66616,774 >100%22.8% Total salaries and benefits$121,852$110,048$102,728 42.9%18.6% Equipment and occupancy 25,53624,99723,2208.6%10.0% Other real estate owned, net 10537(13)>100%>100% Marketing and other business development 3,7774,5622,349(68.8%)60.8% Postage and supplies 2,3712,1911,80632.9%31.3% Amortization of intangibles 1,8712,0572,206(36.2%)(15.2%) Other noninterest expense: Deposit related expense7,0624,4046,804 >100%3.8% Lending related expense11,09512,0257,782 (30.9%)42.6% Wealth management expense623541435 60.6%43.2% Other noninterest expense8,3699,5557,379(49.6%)13.4% Total$27,149$26,525$22,400 9.4%21.2% Total noninterest expense$182,661$170,417$154,696 28.7%18.1% Efficiency ratio53.3%50.2%49.0% 24.7%8.8% Expense/Total Average Assets1.92%1.82%1.81% 22.0%6.1% Noninterest expense *$182,556$170,380$154,709 28.6%18.0% Efficiency ratio ** 53.2%50.3%49.0% 23.1%8.6% Noninterest Expense*/Total Avg. Assets1.92%1.82%1.81% 22.0%6.1% Headcount (FTE)2,988.02,841.02,621.0 20.7%14.0% •Salary and benefit costs increases from the same quarter last year reflect the impact of a 14.0% increase in FTEs, seasonality related to certain benefit costs and increased incentive costs. •Anticipated cash incentives for 2022 increased in anticipationofthelikelihoodofachieving maximum payouts in relation to target awards. •JB&B Capital, Inc. should add approximately $10- $12 million in expense costs in 2022. •PNFP has a meaningful contingency for expense growth as incentive costs would decline should 2022 performancetargets appear unlikelyand we could reduce our hiring effort which are opportunistic and always focused on seizing competitive vulnerabilities. •Share Buy Back Program – •Board authorized a $125.0 million plan on January 18, 2022to commence when current plan expired on March 31, 2022; new plan approved through March 31, 2023; no shares repurchased under the most recent authorization. Growth in Tangible Book Value Remains a Critical Focus PNFP increases common dividend in first quarter 2022 Tangible book value per share growth remains our focus, but other capital initiatives will be considered •Tangible Book Value per Common Share Growth – •Tangible book value per common share atMarch 31, 2022up 10.0% from March 31, 2021. •Tangible book value down in the quarter due in large part to approximately $133 million market value adjustments of the firm’s available-for-sale investment securities portfolio as a result of rising rates. •Changein tangible book value per common share in comparison to peers added as a performance component to leadership equity compensation plan in 2021 and remains a component in 2022. 15.0% 19.0% 14.8% 14.2% -2.1% 2018 2019 2020 2021 1Q22 Focused on growing TBV per common share **: excluding goodwill, core deposit and other intangible assets Note: For a reconciliation of these Non-GAAP financial measures to the comparable GAAP measures, see slides 56-57. Peer group noted on slide 58. 14 •Dividends – •Dividends per common share increased to $0.22 in 1Q22. Tangible Book Value per Common Share** PNFP Optimistic about 2022 We remain confident in our model to produce outsized revenue and earnings growth 2022 Outlook –as of April 18, 2022 (Note) Y/Y End of Period Loan Growth•We anticipate at least mid-teen percentage loan growth or more for 2022 end of year balances over 2021 year-end levels. Y/Y End of Period DepositGrowth •Client funding should continue to rise causing liquidity levels to remain elevated from historical norms. We anticipate core deposit percentage growth of high-single digits in 2022. Net interest income•GAAP net interest income growth for 2022 is estimated to be low-double digits from 2021 primarily due to anticipated increases in average loans in 2022. Our planning assumption contemplates six additional rate hikes by the Federal Reserve for the remainder of 2022. Fee income•We estimate fee income from BHG will grow by at least 20% in FY22 over FY21 levels. We estimate that fee income growth should approximate 7-9% for those categories of non-interest income other than income we receive from BHG and from investments we make in joint ventures and venture capital and other funds, which we are not forecasting given the uncertainty with respect to amounts and timing of any such income. Expenses•At present, we plan to continue to aggressively recruit the best financial advisors in our markets which would also require increased infrastructure support. As a result, inclusive of increased incentive accruals and the addition of JB&B, we anticipate total expenses in 2022 to reflect mid-teen percentage increases in 2022 over 2021. Credit quality•We also believe a further reduction in our ACL to total loans ratio given the current economic outlook and strong credit metrics. 15 Note: 2022 outlook is based on current facts and circumstances. Our outlook is subject to change based on numerous factors which may require us to change our outlook at any time. These factors may include, among the other risks described herein, changes in operating strategy, balance sheet positioning or macroeconomic factors such as significant changes in interest rates from those we are modeling. See slide 2 of these materials for more information. Bankers Healthcare Group BHG’s differentiated model has proven very resilient with continued strong originations, loan sales and yield/spread premium. The gain on sale model continues to provide meaningful earnings to BHG and to Pinnacle even as BHG further increases the mix toward balance sheet spread income via AAA-rated securitizations. Capital and reserve levels support a very sound balance sheet. 16 BHG Business Model Drives Outperformance •1Q22 was the 7th consecutive record highest origination quarter in the history of BHG •Net interest spreads (~10%+) have been resilient for several years in spite ofinterest rate fluctuations •BHG’s vast bank funding platform continues to provide ready liquidity and differentiates BHG from other online lenders Source: BHG Internal Data –charts exclude impact of PPP and SBA loans originated by BHG. Furthermore, borrower coupon rates include all loans originated by BHG including loans retained by BHG on balance sheet as well as loans sold to other banks. Record Start at BHG in 2022 BHG continues to originate loans at record levels while maintaining strong yields 13.5% 13.8% 13.9% 13.6%13.6% 13.4% 13.9% 13.9% 14.0% 5.2% 5.6% 4.9% 4.3% 4.0% 3.7% 3.4% 3.2% 3.1% 0% 2% 4% 6% 8% 10% 12% 14% 16% 1Q202Q203Q204Q201Q212Q213Q214Q211Q22 Borrower CouponBank Buy Rate - 200 400 600 800 0 200 400 600 800 1,000 1,200 1,400 1,600 201720182019202020211Q22 Bank Network Trends Total Banks in NetworkUnique Buyers Total Banks in Network Unique Buyers Each Period 17 $429 $375 $452 $528 $628 $714 $727 $739 $855 $381 $387 $400 $388 $443 $393 $383 $377 $323 $0 $100 $200 $300 $400 $500 $600 $700 $800 $900 1Q202Q203Q204Q201Q212Q213Q214Q211Q22 OriginationsPlacements Loan Originations and Placements Coupon and Buy Rates •Recourse obligation reserves decreased to 4.82% of total loans outstanding (loans sold to other banks) and reflects a small adjustment based on current macroeconomic pressures BHG Credit Quality Continues to Impress Sophisticated credit scoring models produce impressive results Recourse Obligation Reserves (Note) (Green Bars –Balance of loans in bank network, $s in millions) Note: Recourse Obligation is a reserve on BHG’s balance sheet set aside to cover losses attributable to acceptance of substitutions from loans previously sold to banks in the BHG network. Source: BHG Internal Data BHG’sOn Balance Sheet Reserves Remain Strong 18 4.20% 3.79% 3.73% 3.22% 3.74% 4.56% 4.71% 4.62% 7.64% 5.00% 4.82% $- $500 $1,000 $1,500 $2,000 $2,500 $3,000 $3,500 $4,000 $4,500 $5,000 0.00% 1.00% 2.00% 3.00% 4.00% 5.00% 6.00% 7.00% 8.00% 20122013201420152016201720182019202020211Q22 Total Ending Balance at outside banks only ($millions)Recourse Obligation as a % of Outstanding 3.79% 2.94% 2.95% 1.83% 2.68% 3.25% 2.72% 2.47% 2.87% 2.51% 2.18% 0.25% 0.36% 0.33% 0.58% 0.99% 1.30% 1.45% 1.16% 1.38% 2.13% 2.35% 4.04% 3.31% 3.28% 2.40% 3.66% 4.55% 4.17% 3.64% 4.26% 4.64% 4.52% 0.00% 1.00% 2.00% 3.00% 4.00% 5.00% 6.00% Recourse Losses as % of Outstanding Balances Credit Loss %Prepayment Loss % •FICO scores continue to reflect a high caliber borrower base •Average FICO scores of 734 at origination for loans outstanding at Mar 31, 2022 •Historical credit results indicate that 70% of losses occur within first 36 months of origination •Data is through Mar 31, 2022; 2020 information includes 27 months of history. Steady improvement in credit over past 7-8 years. BHG Credit Quality Continues to Impress Sophisticated credit scoring models produce impressive results Historical FICO Scores Source: BHG Internal Data BHG’s Strong Credit Quality Continues to Improve Vintage analysis demonstrates continuous improvement in asset quality 0%10%20%30%40%50%60%70%80%90%100% 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 <650650-699700-749750-799>800 19 BHG is on track for 20% Growth in 2022 Alternative revenue channels remain in 2022 launch pipeline Other 1Q22 Highlights •Closed $492mm BHG 2022-A securitization in January. •Borrowers -WAR 14.1%. Avg. Balance $82K. WA Fico 736. •Securitization WAR of 2.79%, exclusive of servicing fees of ~1.03% •Opened Atlanta office –40+ professionals BHG Future Growth opportunities •Deeper penetration for Core Product, < 1% of market share currently •Expansion of credit card platform to medical and other professionals as well as potential alliances with Banks and other FinTechs •Patient lending for hospitals and surgery centers with loan terms up to 60 months •Launched POS for elective medical procedures as well as other retail and home improvement financing outlets •White label consumer lending platform with Bank Network •Leverage partnership with Pinnacle to develop deposit products for medical and other professionals 20 $77 $104 $183 $172 $241 $0 $100 $200 $300 $400 201720182019202020212022 (fc) BHG Pre-Tax Earnings ($ millions) BHG estimates pre-tax earnings growth in 2022 of ~20% $711 $873 $1,449 $1,785 $2,808 $0 $500 $1,000 $1,500 $2,000 $2,500 $3,000 $3,500 $4,000 201720182019202020212022 (fc) BHG Loan Originations ($ billions) BHG estimates loan origination growth in 2022 of ~30% A “Once-in-a-Generation Opportunity” Despite an uncertain economic environment, rarely has there been an opportunity of this magnitude to build substantial long-term shareholder value. Our differentiated culture is attracting large numbers of experienced bankers and their clients that are frustrated with the experience at many of our primary competitors, which is only exacerbated by consolidation. Our top quartile profitability and proven track record for converting “new hires” to sound balance sheet volumes and revenue growth put us in a unique position to “invest” in order to seize this “once-in-a-generation” opportunity. 21 Pinnacle is Uniquely Positioned to Seize “Once-in-a-Generation” Opportunity Bank integrations provide unusual share take-away opportunity 22 Pinnacle is Uniquely Positioned to Seize “Once-in-a-Generation” Opportunity $324.6B of Pinnacle’s markets exhibit unusual marketsharevulnerability 23 Nashville, TN Pinnacle16.43% Bank of America16.41% Regions12.08% Truist9.21% First Horizon7.17% Wells Fargo2.13% Knoxville, TN Truist19.32% First Horizon17.29% Regions12.36% Pinnacle10.15% Bank of America3.21% Chattanooga, TN First Horizon22.20% Truist14.30% Regions12.20% Pinnacle9.0% Bank of America9.27% Memphis, TN First Horizon35.12% Regions 12.86% Truist5.17% Bank of America4.80% Pinnacle4.16% Greensboro/High Point, NC Truist24.29% Wells Fargo20.45% Bank of America11.84% Pinnacle10.99% First Citizens5.97% First Horizon3.41% PNC1.92% Raleigh, NC Wells Fargo22.61% Truist18.94% First Citizens12.73% Bank of America11.91% PNC8.01% First Horizon3.43% Pinnacle1.48% Charleston, SC Wells Fargo21.45% Bank of America16.52% SouthState13.19% Truist9.29% First Citizens6.50% Pinnacle4.57% Greenville, SC Truist18.11% Wells Fargo15.13% TD11.25% Bank of America10.85% First Citizens5.92% Pinnacle1.48% Washington, D.C. Bank of America12.41% Capital One12.21% Truist11.55% Wells Fargo10.16% PNC5.43% Huntsville, AL Regions21.20% PNC15.94% ServisFirst9.88% Wells Fargo6.08% Truist3.14% First Horizon2.77% Birmingham, AL PNC27.96% Regions27.15% ServisFirst8.84% Wells Fargo8.67% Synovous4.57% Truist3.00% Atlanta, GA Truist25.93% Bank of America20.78% Wells Fargo18.11% $16.5B vulnerable deposits $9.6B vulnerable deposits $5.1B vulnerable deposits$16.4B vulnerable deposits $8.7B vulnerable deposits $25.6B vulnerable deposits $101.5B vulnerable deposits $3.2 mm vulnerable deposits $21.7B vulnerable deposits $96.9B vulnerable deposits $11.8B vulnerable deposits $7.6B vulnerable deposits Source: 2021 FDIC Deposit Market Share Data Pinnacle is Uniquely Positioned to Seize “Once-in-a-Generation” Opportunity Pinnacle’s size and culture are attracting talent in newer markets 24 ($ in millions) Atlanta, GAHuntsville, ALBirmingham, ALWashington, D.C.Specialty Lending Announcement DateDecember 2019June 2021June 2021November 2021N/A As of March 31, 2022: Revenue Producers246798 Total Associates4212101112 EOP Loan Commitments$1,036.4$77.1$181.6$48.7$480.6 EOP Loans Outstanding$579.1$30.9$125.7$7.5$363.0 EOP Deposits$227.7$167.1$64.8$0.6- 1Q22 FDEPS Impact # $0.003($0.001)($0.010)($0.008)($0.017) # : 1Q21 results based on internal profitability measurement system Source: Internal Pinnacle Data Pinnacle is Uniquely Positioned to Seize “Once-in-a-Generation” Opportunity Pinnacle proven ability to consolidate client relationships provides outsized growth 25 Basedon internal data for 176 relationship managers hired since Jan. 1, 2018. Charts show the average total volumes per RM at the end of each year of employment $7.90 $27.70 $30.50 $44.40 $56.00 $- $10.00 $20.00 $30.00 $40.00 $50.00 $60.00 12345 (Millions of dollars) RM Year of Employment Loan Balance Expectations by Year $5.90 $15.10 $38.30 $28.30 $36.60 $- $5.00 $10.00 $15.00 $20.00 $25.00 $30.00 $35.00 $40.00 $45.00 12345 (Millions of dollars) RM Year of Employment Deposit Balance Expectations by Year Years Hires by year Loan BalancesDeposit Balances 2018201920202021202220232024202520182019202020212022202320242025 ($ in thousands) 2018 35$ 277 $ 970 $ 1,068 $ 1,554 $ 1,960 $ -$ 207 $ 529 $ 1,341 $ 991 2019 41$ 324 $ 1,136 $ 1,251 $ 1,820 $ 2,296 $ -$ 242 $ 619 $ 1,570 $ 1,160 2020 33$ 261 $ 914 $ 1,007 $ 1,465 $ 1,848 $ -$ 195 $ 498 $ 1,264 $ 934 2021 53$ 419 $ 1,468 $ 1,617 $ 2,353 $ 2,968 $ -$ 313 $ 800 $ 2,030 $ 1,500 YTD 2022 14$ 111 $ 388 $ 427 $ 622 $ -$ 83 $ 211 $ 536 176$ 277 $ 1,293 $ 2,464 $ 4,137 $ 6,366 $ 5,766 $ 4,628 $ 3,590 $ -$ 207 $ 770 $ 2,154 $ 3,372 $ 3,307 $ 3,175 $ 2,036 Planned aggregate volumes at each year end for each hiring class. Note: Based on historical growth amounts as noted above. *: excluding gains and losses on sales of investment securities. For a reconciliation of these Non-GAAP financial measures to the comparable GAAP measures, see slides 56-57. Note: See slide 58 for peer group utilized in the above analysis. Peer group calculated by aggregating total peer revenues by total peer weighted avg. shares for each quarter. Source: S&P Global 26 $11.10 $11.43 $11.74 $12.13 $12.42 $12.92 $13.44 $13.54 $13.87 $14.05 $14.35 $15.07 $15.78 $16.51 $17.07 $17.50 $17.85 8.8% 11.3% 11.9% 13.0% 11.9% 13.0% 14.5% 11.6% 11.6% 8.7% 6.8% 11.3% 13.8% 17.5% 19.0% 16.2% 13.1% 7.3% 6.4% 6.7% 6.2% 4.6% 4.8% 4.3% 4.4% 5.8% 7.7% 8.5% 5.3% 6.5% 5.8% 3.4% 0.5% 0.0% 2.0% 4.0% 6.0% 8.0% 10.0% 12.0% 14.0% 16.0% 18.0% 20.0% $10.00 $11.00 $12.00 $13.00 $14.00 $15.00 $16.00 $17.00 $18.00 $19.00 1Q182Q183Q184Q181Q192Q193Q194Q191Q202Q203Q204Q201Q212Q213Q214Q211Q22 Y/Y Revenue per Share Growth Revenue per Share LTM Revenue Per Share Growth* vs. Peers PNFP LTM Revenue/Share*PNFP Y/Y GrowthPeer Median Y/Y Growth Pinnacle is Uniquely Positioned to Seize “Once-in-a-Generation” Opportunity Given the franchise building opportunities, we focus on EPS growth through RPS growth, not expense cutting “My right is driven in, my center is giving way, the situation is excellent, I attack.” Ferdinand Foch 27 Outlook for 2022 Q&A FIRST QUARTER 2022 28 Supplemental Information Slide # •Balance Sheet30 •Income Statement53 •Peer Group58 29 Balance Sheet –Loan Portfolio Segments ($ in millions)Amts. 1Q22 % 1Q22 Amts. 4Q21 % 4Q21 Amts. 1Q21 % 1Q21 Amts. 1Q20 % 1Q20 C&I $8,213.133.5%$7,703.532.9%$6,355.127.5%$6,752.333.1% C&I –Paycheck Protection Program 157.20.6%371.11.6%2,221.49.6%-0.0% CRE –Owner Occ. 3,124.312.8%3,048.813.0%2,869.812.5%2,650.213.0% Total C&I & O/O CRE $11,494.646.9%$11,123.447.5%$11,446.349.6%$9,402.546.1% CRE –Investment 4,707.819.2%4,607.019.7%4,782.720.7%4,520.222.2% CRE –Multifamily and other 718.82.9%614.72.6%790.53.4%550.32.7% C&D and Land 3,277.013.4%2,903.012.4%2,569.011.1%2,521.012.3% Total CRE & Construction $8,703.635.5%$8,124.734.7%$8,142.235.2%$7,591.537.2% Consumer RE 3,813.315.6%3,680.715.7%3,086.913.4%3,106.515.2% Consumer and other 487.52.0%485.52.1%411.31.8%296.41.5% Total Other $4,300.817.6%$4,166.217.8%$3,498.215.2%$3,402.916.7% Total loans $24,499.0100.0%$23,414.3100.0%$23,086.7100.0%$20,396.9100.0% 30 ($ in millions) TOTAL PINNACLEC&I & O/O CRECRE & CONSTRUCTIONOTHER LOANS* Amts. 1Q22 Amts. 1Q21 Amts. 1Q22 Amts. 1Q21 Amts. 1Q22 Amts. 1Q21 Amts. 1Q22 Amts. 1Q21 Nashville $8,117.6$7,172.1$3,870.8$3,402.9$2,654.5$2,541.1$1,592.3$1,228.1 Knoxville 1,926.61,794.41,134.31,012.6439.0519.8353.3262.0 Chattanooga 1,578.91,430.2912.3824.3344.3324.3322.3281.6 Memphis 1,654.31,577.3876.8822.9451.5515.2326.0239.2 Huntsville 30.9-17.5-3.2-10.2- Birmingham 125.7-97.4-22.9-5.4- Total Tennessee /AL $13,434.0 $11,974.0 $6,909.1 $6,062.7 $3,915.4 $3,900.4 $2,609.5 $2,010.9 Greensboro/Highpoint 1,957.5 1,671.4723.9 579.9956.1 858.8 277.5 232.7 Charlotte 2,675.22,255.1738.7521.91,453.71,333.6482.8399.6 Raleigh 1,391.81,233.9264.1195.5993.2903.0134.5135.4 Charleston 887.2846.1201.1188.0450.2420.4235.9237.7 Greenville 506.3428.5164.5125.6276.9256.564.946.4 Roanoke 652.5590.1198.4173.6349.2313.2104.7103.3 Washington, D.C. 7.5-7.7----- SBA Lending Team 160.8127.8147.9111.612.215.10.71.1 Total Carolina/VA $8,238.8 $7,152.9 $2,446.3 $1,896.1 $4,491.7 $4,100.6 $1,301.0 $1,156.2 Atlanta 579.1 $132.1 315.2 98.4213.0 13.0 50.9 20.7 Specialty Lending* 202.2 -177.2 -25.0 --- Paycheck ProtectionProgram 157.2 2,221.4 157.2 2,221.4---- Other 1,887.7 1,606.3 1,489.6 1,167.758.5128.2339.4 310.4 Total $24,499.0 $23,086.7 $11,494.6 $11,446.3 $8,703.6 $8,142.2 $4,300.8 $3,498.2 Balance Sheet –Loan Portfolio –Market Segmentation Note: Percentages noted in red text represent year-over-year growth rates. *: Represents mortgage, associate banking, automobile finance and various other business lines. 31 Balance Sheet –Loan Portfolio –CRE Segmentation ($ in millions) Total NOO and MultifamilyTotal ConstructionTotal NOO and Construction Amts. 1Q22 Amts. 4Q21 Amts. 1Q21 Amts. 1Q22 Amts. 4Q21 Amts. 1Q21 Amts. 1Q22 Amts. 4Q21 Amts. 1Q21 Multifamily $709.9$602.0$785.9$886.6$705.7$602.1$1,596.5$1,307.7$1,388.0 Hospitality 817.4843.0854.219.024.788.0836.4867.7942.2 Retail 1,250.71,275.31,237.2166.1157.8145.31,416.81,433.11,382.5 Office 840.9822.8880.0187.9149.6185.01,028.8972.41,065.0 Warehouse 720.2639.9746.5534.9413.6205.71,255.11,053.5952.2 Medical 486.9479.5514.374.476.884.9561.3556.3599.2 Other 600.6559.2555.11,408.11,374.81,258.02,008.71,934.01,813.1 Total $5,426.6$5,221.7$5,573.2$3,277.0$2,903.0$2,569.0 $8,703.6$8,124.7$8,142.2 Average Ticket Size (in ‘000s) $2,031.4$1,938.8$1,994.6$733.3$681.1$607.6 $1,220.4$1,168.9$1,159.9 32 33 Rate IndexPortfolio Snapshot: End-of-PeriodWeighted Average Coupon Loan Originations: Quarterly Average Rate At Mar. 31, 2021 At Dec. 31, 2021 At Mar. 31, 2022 YOY Change As a % of Total Portfolio 1Q214Q211Q22 Origination Mix 1Q22 LIBOR/SOFR2.83%2.75%2.87%0.04%35.8%2.77%2.67%2.76%34.0% 1-MO LIBOR0.11%0.10%0.45%0.34%0.12%0.09%0.23% Prime3.76%3.77%3.87%0.11%17.0%3.91%3.87%3.94%23.7% FFS target0.25%0.25%0.50%0.25%0.25%0.25%0.50% Fixedrate4.16%3.88%3.81%(0.35)%42.5%3.78%3.64%3.55%38.8% 5-YR UST0.93%1.26%2.46%1.53%0.60%1.18%1.83% Total Loans*3.60%3.47%3.49%(0.11)%3.51%3.30%3.38% *Excludes leases, credit cards, PPP loans and loans HFS; loan yields consider contractual floors for individual loans but exclude the impact of other loan interest rate derivative products. Balance Sheet –Loan Pricing Information PPP Program was a Differentiator for Pinnacle Pinnacle provided needed stimulus to smaller businesses in 2020 and 2021 PPP Trends $(000’s) Average Balances Aggregate Yield Interest Income Accretion Income Total Revenues 2Q20$ 1,689,0332.89%$ 4,673$ 7,449$ 12,122 3Q20$ 2,235,2772.77%$ 5,795$ 9,760$ 15,555 4Q20$ 2,111,2824.64%$ 5,223$ 19,421$ 24,644 1Q21$ 2,064,8824.51%$ 5,167$ 17,788$ 22,955 2Q21$ 1,929,3635.47%$ 4,987$ 21,318$ 26,305 3Q21$ 983,4868.54%$ 2,711$ 18,464$ 21,175 4Q21$530,93011.56%$ 1,396$ 14,078$ 15,474 1Q22$255,63716.96%$ 667$ 10,172$ 10,839 •$157.2 million in PPP balances remain on balance sheet at March 31, 2022 •Unamortized fees of $5.0 mm atMarch 31, 2022to be recognized as loans are paid down or forgiven 34 ($000’s)2020 PPP2021 PPPTotals Total PPP fundings$ 2,483,177 $ 933,872$ 3,417,049 Total forgiveness, payoffs processed through March 31, 2022 $ 2,463,770$ 796,099$ 3,259,869 Net PPP Balances atMarch 31, 2022$ 19,407$ 137,773$ 157,180 Total fees for PPP fundings$ 77,431$ 46,021$ 123,452 Fee income recognized in prior years$ 77,203$ 31,108$ 108,311 Fee income recognized in 2022$ 197$ 9,975$ 10,172 Fees unrecognized$ 32$ 4,938$ 4,970 Total interest income recognized in 2022$ 64$ 603$ 667 Total fee income recognized in 2022$ 197$ 9,975$ 10,172 Total revenues from PPP in 2022$ 261$ 10,578$ 10,839 Balance Sheet –Loan Portfolio Lines of Credit ($'s in millions) 9/30/202012/31/20203/31/20216/30/20219/30/202112/31/20213/31/2022 Linked Qtr. Change CRE –Investment & Construction Net Active Balance$4,067.10$4,106.82$4,051.74$3,921.54$4,040.73$3,727.20$4,096.40$369.21 Net Available Credit3,060.303,191.473,463.313,841.694,158.194,968.765,347.77379.01 Total Exposure7,127.507,298.297,515.067,763.248,198.928,695.969,444.18748.21 % Funded57.1%56.3%53.9%50.5%49.3%42.9%43.4%0.5% C&I and O/O CRE Net Active Balance$3,630.10$3,367.16$3,428.60$3,658.73$3,939.28$4,148.52$4,471.15$322.63 Net Available Credit4,734.504,674.905,036.065,054.445,403.245,870.426,129.81259.39 Total Exposure8,364.608,042.068,464.678,713.179,342.5310,018.9410,600.96582.02 % Funded43.4%41.9%40.5%42.0%42.2%41.4%42.2%0.8% Consumer Net Active Balance$1,302.20$1,571.21$1,511.32$1,597.98$1,597.06$1,608.47$1,589.27($19.20) Net Available Credit1,583.201,826.241,922.711,994.212,062.242,224.752,403.49178.74 Total Exposure2,885.603,397.453,434.033,592.193,659.303,833.223,992.76159.54 % Funded45.1%46.2%44.0%44.5%43.6%42.0%39.8%(2.2%) Totals Net Active Balance$8,999.40$9,045.19$8,991.67$9,178.25$9,577.07$9,484.18$10,156.82$672.64 Net Available Credit9,378.009,692.6110,422.0810,890.3411,623.6713,063.9413,881.08817.13 Total Exposure18,377.7018,737.8019,413.7520,068.5921,200.7422,548.1224,037.901,489.77 % Funded49.0%48.3%46.3%45.7%45.2%42.1%42.3%0.2% 35 Total Allowance for Credit Losses for loans = $261.6 mm or 1.07% of loans atMarch 31, 2022 (1)Calculation based on end of period loan balance (2)Net charge-off percentage calculation is annualized and in relation to avg. quarterly loan balances (3)For a reconciliation of this Non-GAAP financial measure to the comparable GAAP measure, see slide 56-57. •3 rd party economic forecast model provides significant inputs into ACL calculation •Unemployment and GDP are primary economic forecast metrics •Weighted average of Baseline (40%), Optimistic (30%) and Pessimistic (30%) scenarios used in 1Q 2022 Allowance for Credit Losses % of Loans Off-Balance Sheet Total AtMarch 31, 2021$280,8811.22% (1) $23,219$304,100 Net Charge Offs($9,968) 0.17% (2) ($9,968) 2Q Provision$2,834 - $2,834 AtJune 30, 2021$273,747 1.20% (1) $23,219$296,966 Net Charge Offs($9,281) 0.16% (2) ($9,281) 3Q Provision$4,169 ($750)$3,419 AtSeptember 30, 2021$268,635 1.17% (1) $22,469$291,104 Net Charge Offs($8,077) 0.14% (2) ($8,077) 4Q Provision$2,675 -$2,675 AtDecember 31, 2021$263,233 1.12% (1) $22,469$285,702 Net Charge Offs($2,958) 0.05% (2) ($2,958) 1Q Provision$1,343 $500$1,843 AtMarch 31, 2022$261,618 1.07% (1) $22,969$284,587 AtMarch 31, 2022Excluding PPP Loans (3) 1.07% (1)(3) Forecasted economicmetrics (1) BaseCase Outlook at:2Q223Q224Q221Q23 US UnemploymentRates 4Q213.68%3.49%3.36%3.38% 1Q223.68%3.52%3.48%3.44% US Real GDP Change 4Q217.54%8.50%9.19%9.78% 1Q226.98%7.63%8.38%9.23% (1)Weighted metrics are used in PNFP CECL assessment. Unemployment rates are quarterly averages. US Real GDP rates are change in quarterly GDP from 4Q20. Current Expected Credit Losses 36 Current Expected Credit Losses Allowance for Credit Losses March 31, 2021 CECL June 30, 2021 CECL September 30, 2021 CECL December 31, 2021 CECL March 31, 2022 CECL Amount% of LoansAmount% of LoansAmount% of LoansAmount% of LoansAmount% of Loans Commercial and Industrial $ 101,0761.59% *$102,1011.51%*$101,1461.43%*$112,3401.46%*$112,4121.37%* Commercial Real Estate102,5841.22%98,3921.20%93,2851.14%78,1220.94%75,5840.88% Construction and Land Development 37,6421.47%33,4871.20%32,8601.06%29,4291.01%29,8230.91% Consumer Real Estate30,1990.98%30,4450.91%31,0250.88%32,1040.87%32,3200.85% Consumer and Other9,3802.28%9,3222.12%10,0492.18%11,2382.31%11,4792.35% Allowance for Loan Losses$ 280,8811.35%* $ 273,7471.27%*$268,6351.20%*$263,2331.14%*$261,6181.07%* Reserve for unfunded commitments23,21923,21922,46922,46922,969 Allowance for Credit Losses -Total$ 304,100$296,966$291,104$285,702$284,587 *: Reserve percentages for C&I and total loans exclude SBA PPP loans. For a reconciliation of this Non-GAAP financial measure to the comparable GAAP measure, see slide 56-57. 37 Asset Quality (*) Excludes past due loans rated substandard ($in millions)March 31, 2022 AS A % OF TOTALLOANS December 31, 2021 AS A % OF TOTALLOANS March 31, 2021 AS A % OF TOTALLOANS NPLs and > 90 days Const. and land development $3500.00%$3560.00%$1,5580.01% Consumer RE 8,2770.03%10,4080.04%19,7780.09% CRE –Owner Occupied 3,1210.01%2,6940.01%13,0240.06% CRE –Non-Owner Occupied 1,4360.01%1,4040.01%3,4580.01% Total real estate $13,1840.05%$14,8620.06%$37,8180.16% C&I 14,6320.06%17,9410.08%36,7800.16% Other4050.00%3740.00%3700.00% Total loans $28,2210.12%$33,1770.14%$74,9680.32% Classified loans and ORE Substandard commercial loans$117,2710.48%$129,6950.55%$210,6200.91% Doubtful commercial loans-0.00%-0.00%-0.00% Other impaired loans9,7290.04%11,4720.05%22,3430.10% 90 days past due and accruing (*)1,6050.01%1,6070.01%1,3330.01% Other real estate8,2370.03%8,5370.04%10,6510.05% Other repossessed assets2000.00%-0.00%-0.00% Total$137,0420.56%$151,3110.65%$244,9471.06% Pinnacle Bank classified asset ratio3.6%4.1%7.3% 38 Balance Sheet –Loan Portfolio 39 -0.10% 0.00% 0.10% 0.20% 0.30% 0.40% 0.50% 0.60% 0.70% 0.80% 0.90% 1.00% CREConstructionC&IConsumer REConsumer and other Total net charge off rates Net Loan Charge Offs by Loan Type 2019202020212022 Balance Sheet –Loan Portfolio –100/300 Test ($ in thousands) Description1Q224Q213Q212Q211Q214Q20 Loans secured by real estate: Construction, land development, and other loans: 1-4 family residentialconstruction loans$701,029$625,862$635,470$556,052$548,614$514,819 Other constructionloans and all land development and other land loans2,576,0002,277,1552,461.4912,235,5592,020,3552,386,927 Loans included in the 100% test$3,277,029$2,903,017$3,096,961$2,791,611$2,568,969$2,901,746 Securedby multifamily (5 or more) residential properties$744,498$627,803$664,599$739,788$798,120$663,664 Loans securedby other nonfarm nonresidential properties4,707,7614,607,0484,597,7374,644,5514,782,7124,565,040 Financed realestate not secured by real estate 405,738452,283389,190490,637510,756475,339 Loansincluded in the 300% test$9,135,026$8,590,150$8,748,487$8,666,587$8,660,556$8,605,789 Total Risk-Based Capital$3,748,002$3,670,111$3,466,596$3,483,255$3,382,393$3,259,538 %ofTotal Risk-Based Capital 100% Test –Constructionand LandDevelopment87%79%89%80%76%89% 300% Test –Construction and Land Development + NOOCRE + Multifamily244%234%252%249%256%264% 40 Balance Sheet –Deposit Portfolio –Market Segmentation ($ in millions) TOTAL DEPOSITSCORE DEPOSITSNONCORE DEPOSITS TOTAL PINNACLETRANSACTION AND MMDACDsPUBLIC FUNDS and OTHER DEPOSITS 1Q221Q211Q221Q211Q221Q211Q221Q21 Nashville$13,494.1$11,219.3$13,006.1$10,552.6$335.7$456.3$152.3$210.3 Knoxville2,656.82,276.22,568.72,154.363.882.524.339.4 Music and Entertainment569.6366.1566.8360.11.41.81.44.3 Memphis2,015.61,522.61,811.31,303.2110.3131.194.088.3 Chattanooga1,965.51,658.01,879.41,576.228.736.757.445.1 Birmingham64.8-64.8----- Huntsville167.1-167.0-0.1--- Total TN/AL$20,933.5$17,042.2$20,064.1$15,946.4$540.0$708.4$329.4$387.4 Greensboro/Highpoint2,993.02,653.42,675.72,248.6221.2256.096.1148.8 Charlotte1,961.01,704.01,800.41,454.8125.2157.235.492.0 Charleston1,386.81,164.51,284.21,032.287.2109.015.423.3 Raleigh1,005.6846.0958.9790.936.141.810.613.3 Roanoke911.6862.9835.9755.763.989.211.818.0 Greenville462.3377.3399.3298.746.760.016.318.6 Washington, D.C.0.6-0.6----- Total Carolinas / VA$8,720.9$7,608.1$7,955.0$6,580.9$580.30$713.2$185.6$314.0 Atlanta227.7123.4227.2123.30.5--- Other2,413.73,519.21,019.6877.512.011.51,382.12,630.2 Total$32,295.8$28,292.9$29,265.9$23,528.1$1,132.8$1,433.1$1,897.1$3,331.6 Note: Percentages noted in red text represent year-over-year growth rates. 41 Balance Sheet –Bond Portfolio Statistics ●Investmentsto Total Assets of 15.6% 13.3% 2.0% 29.7% 5.6% 1.9% 47.5% Agency/TreasuryCorporatesMBSAsset BackedCMOsMunicipals Portfolio: March 31, 2022 Total Investments $6.1 billion Net Unrealized Gain (Loss) ($51.9) million QuarterDurationAvg. Yield-TE 1Q224.4%2.1% 4Q214.1%2.1% 3Q214.5%2.0% 2Q214.3%2.3% 1Q214.8%2.3% 4Q204.4%2.3% 3Q204.7%2.4% 2Q204.6%2.6% 1Q204.3%2.8% 42 Investment Securities Segmentation Note: See slide 58for peer group utilized in the above analysis. Source: S&P Global 78% 75% 76%76% 77% 22% 25% 24%24% 23% Mar. 2021Jun. 2021Sep. 2021Dec. 2021Mar. 2022 Effective Bond Portfolio Composition End of Period Fixed RateVariable Rate Balance Sheet –Bond Portfolio 43 2.12 15.6 - 5.0 10.0 15.0 20.0 25.0 30.0 35.0 40.0 - 0.50 1.00 1.50 2.00 2.50 3.00 3.50 4.00 2017Q12017Q22017Q32017Q42018Q12018Q22018Q32018Q42019Q12019Q22019Q32019Q42020Q12020Q22020Q32020Q42021Q12021Q22021Q32021Q42022Q1 % of Total Assets Bond Yields PNFP - Bond YieldsPeer Median - Bond Yields PNFP - % of Total AssetsPeer Median - % of Total Assets Interest Rate Sensitivity ▪The balance sheet is asset sensitive, although the benefit from the first 50bp of hikes is likely to be modest with increasing benefit thereafter due to impact of loan floors. ▪$3.6b of variable rate loans with in-the-money floors remain after the first 25bp hike. An additional 50bp of hikes will clear 61% of these floors and 100bp will clear 92%. ▪The IRR sensitivity analysis assumes deposit betas based on the prior tightening cycle, which equates to a beta of approximately55-60% for interest-bearing deposits (ex-CDs) and 40- 45% for total deposits. Given current industry liquidity levels, we are optimistic we can outperform historical levels while still protecting relationship deposits. ▪Other factors that will gradually increase asset sensitivity over time include reinvestment of fixed-rate PPP proceeds, shortening the duration of the securities portfolio, and $230mm of pay-fixed forward swaps transacted in 2020 that are set to layer into the balance sheet in 2023/2024. 44 Note: We believe our interest rate sensitivity modeling is consistent with regulatory requirements.Our interest rate sensitivity modeling incorporates a number of broad assumptions for earnings simulation, including loan and deposit re-pricing characteristics, the rate of loan prepayments, static balance sheet, etc. Management periodically reviews these assumptions for accuracy based on historical data and future expectations and may change assumptions over time based on better data sources, improved modeling techniques, regulatory changes, etc. Our ALCO policy requires that the base scenario assumes ALL rates remain flat for the prescribed time periods and is the scenario, including those above, to which all others are compared in order to measure the change in net interest income. Policy limits are applied to the results of certain modeling scenarios. While the primary policy scenarios focus is on a twelve-month time frame, including the information above, for the earnings simulations model, longer time horizons are also modeled but are not shown herein. -1.2% 0.2% 0.4% 0.7% 1.2% -1.0% 1.9% 2.2% 2.8% 2.5% -2.0% -1.0% 0.0% 1.0% 2.0% 3.0% 4.0% 1Q212Q213Q214Q211Q22 Net Interest Income % D Rising Rate Ramp & Shock Scenarios Ramp +100bpShock +100bp NIM Adjusted for PPP and Liquidity Impact –1Q22 Estimate PPP and Liquidity Build negatively impacted 1Q22 NIM by 0.29% (2) Yields computed on tax-exempt instruments on a tax equivalent basis and included $8.5 million of taxable equivalent income for the three months ended Mar. 31, 2022compared to $7.3 million for the three months ended Mar. 31, 2021. The tax-exempt benefit has been reduced by the projected impact of tax-exempt income that will be disallowed pursuant to IRS Regulations as of and for the then current period presented. (1) Average balances of nonperforming loans are included in the above amounts. (3) Net interest margin is the result of annualized net interest income calculated on a tax equivalent basis divided by average interest-earning assets for the period. Actual Avg Balances 1Q22 ProForma Adjustments Adjusted Avg Balances after PF EntriesInterest ProForma Adjustments Adjusted Interest after PF EntriesRates/ Yields ProForma Yield/ Rate Adj. Adj. Yield/ Rates after PF Entries Loans (1)(2) $ 23,849$ (256) a $ 23,593 $ 227.0 $ (10.8) a $ 216.23.94%17.19% a 3.80% Securities (2) Taxable3,235 3,235 11.011.01.39%1.39% Tax-exempt2,9092,909 17.4 17.42.94%2.94% Other1701700.60.61.33%1.33% Fed funds sold & Interest- bearing deposits4,630 (4,273) b 357 2.5 $ (2.3) b 0.2 0.22%0.22% b 0.22% $ 34,792(4,529)$ 30,263 $ 258.6 $ (13.1)$ 245.4 3.11%3.40% Nonearning assets3,845 3,845 $ 38,637$ (4,529)$ 34,108 Total deposits and Interest- bearing liabilities33,049(4,529) a,b 28,520 19.1(2.6) a,b 16.50.23%0.23% a,b 0.23% Other liabilities257257 Stockholders' equity5,3315,331 $ 38,637$ (4,529)$ 34,108 Net Interest income$ 239.5 $ (10.6)$ 228.9 Net interest margin (3) 2.89%0.29%3.18% Pro Forma Adjustments a Average balances of PPP loans carried during 1Q22 at an average yield of 17.19%; assume funded from all funding sources. b Estimated average balances of excess liquidity carried during 1Q22 with average yield of 0.22%; assume funded from all funding sources. 45 NIM Adjusted for PPP and Liquidity Impact –4Q21 Estimate PPP and Liquidity Build negatively impacted 4Q21 NIM by 0.25% (2) Yields computed on tax-exempt instruments on a tax equivalent basis and included $10.1 million of taxable equivalent income for the three months ended Dec. 31, 2021compared to $8.4 million for the three months ended Dec. 31, 2020. The tax-exempt benefit has been reduced by the projected impact of tax-exempt income that will be disallowed pursuant to IRS Regulations as of and for the then current period presented. (1) Average balances of nonperforming loans are included in the above amounts. (3) Net interest margin is the result of annualized net interest income calculated on a tax equivalent basis divided by average interest-earning assets for the period. Actual Avg Balances 4Q21 ProForma Adjustments Adjusted Avg Balances after PF EntriesInterest ProForma Adjustments Adjusted Interest after PF EntriesRates/ Yields ProForma Yield/ Rate Adj. Adj. Yield/ Rates after PF Entries Loans (1)(2) $ 23,226$ (531) a $ 22,695 $ 230.0 $ (15.5) a $ 214.64.04%11.56% a 3.86% Securities (2) Taxable3,113 3,113 9.79.71.24%1.24% Tax-exempt2,7012,701 16.9 16.93.04%3.04% Other1681680.50.51.28%1.28% Fed funds sold & Interest- bearing deposits4,188 (3,843) b 345 2.0 $ (1.8) b 0.2 0.19%0.19% b 0.19% $ 33,395(4,374)$ 29,021 $ 259.2 $ (17.3)$ 241.9 3.20%3.44% Nonearning assets3,737 3,737 $ 37,132 $ (4,374)$ 32,758 Total deposits and Interest- bearing liabilities31,549(4,374) a,b 27,175 20.4(2.8) a,b 17.60.26%0.26% a,b 0.26% Other liabilities321321 Stockholders' equity5,2635,263 $ 37,132$ (4,374)$ 32,758 Net Interest income$ 238.8 $ (14.5)$ 224.3 Net interest margin (3) 2.96%0.25%3.20% Pro Forma Adjustments a Average balances of PPP loans carried during 4Q21 at an average yield of 11.56%; assume funded from all funding sources. b Estimated average balances of excess liquidity carried during 4Q21 with average yield of 0.19%; assume funded from all funding sources. 46 NIM Adjusted for PPP and Liquidity Impact –3Q21 Estimate PPP and Liquidity Build negatively impacted 3Q21 NIM by 0.17% (2) Yields computed on tax-exempt instruments on a tax equivalent basis and included $8.5 million of taxable equivalent income for the three months ended September 30, 2021compared to $7.3 million for the three months ended September 30, 2020. The tax-exempt benefit has been reduced by the projected impact of tax-exempt income that will be disallowed pursuant to IRS Regulations as of and for the then current period presented. (1) Average balances of nonperforming loans are included in the above amounts. (3) Net interest margin is the result of annualized net interest income calculated on a tax equivalent basis divided by average interest-earning assets for the period. Actual Avg Balances 3Q21 ProForma Adjustments Adjusted Avg Balances after PF EntriesInterest ProForma Adjustments Adjusted Interest after PF EntriesRates/ Yields ProForma Yield/ Rate Adj. Adj. Yield/ Rates after PF Entries Loans (1)(2) $ 22,987$ (984) a $ 22,003 $ 233.9 $ (21.2) a $ 212.74.13%8.54% a 3.93% Securities (2) Taxable2,868 2,868 9.09.01.24%1.24% Tax-exempt2,5832,583 15.9 15.92.93%2.93% Other1551550.50.51.38%1.38% Fed funds sold & Interest- bearing deposits3,588 (3,174) b 414 1.6 $ (1.5) b 0.1 0.18%0.18% b 0.13% $ 32,181(4,158)$ 28,023 $ 260.9 $ (22.7)$ 238.2 3.32%3.49% Nonearning assets3,715 3,715 $ 35,896 $ (4,158)$ 31,738 Total deposits and Interest- bearing liabilities30,379(4,158) a,b 26,221 23.3(3.2) a,b 20.10.30%0.30% a,b 0.30% Other liabilities340340 Stockholders' equity5,1775,177 $ 35,896$ (4,158)$ 31,738 Net Interest income$ 237.5 $ (19.5)$ 218.1 Net interest margin (3) 3.03%0.17%3.21% Pro Forma Adjustments a Average balances of PPP loans carried during 3Q21 at an average yield of 8.54%; assume funded from all funding sources. b Estimated average balances of excess liquidity carried during 3Q21 with average yield of 0.18%; assume funded from all funding sources. 47 NIM Adjusted for PPP and Liquidity Impact –2Q21 Estimate PPP and Liquidity Build negatively impacted 2Q21 NIM by 0.17% (2) Yields computed on tax-exempt instruments on a tax equivalent basis and included $7.9 million of taxable equivalent income for the three months ended June 30, 2021 compared to $6.9 million for the three months ended June 30, 2020. The tax-exempt benefit has been reduced by the projected impact of tax-exempt income that will be disallowed pursuant to IRS Regulations as of and for the then current period presented. (1) Average balances of nonperforming loans are included in the above amounts. (3) Net interest margin is the result of annualized net interest income calculated on a tax equivalent basis divided by average interest-earning assets for the period. Actual Avg Balances 2Q21 ProForma Adjustments Adjusted Avg Balances after PF EntriesInterest ProForma Adjustments Adjusted Interest after PF EntriesRates/ Yields ProForma Yield/ Rate Adj. Adj. Yield/ Rates after PF Entries Loans (1)(2) $ 23,180$ (1,929) a $ 21,251 $ 232.8 $ (26.3) a $ 206.54.11%5.47% a 3.98% Securities (2) Taxable2,581 2,581 8.48.41.30%1.30% Tax-exempt2,4562,456 16.5 16.5 3.25%3.25% Other1571570.60.61.47%1.47% Fed funds sold & Interest- bearing deposits2,986 (2,574) b 412 1.0 $ (0.9) b 0.1 0.13%0.13% b 0.13% $ 31,360 (4,503)$ 26,857 $ 259.2 $ (27.2)$ 232.1 3.42%3.58% Nonearning assets3,694 3,694 $ 35,054 $ (4,503)$ 30,551 Total deposits and Interest- bearing liabilities29,749 (4,503) a,b 25,246 26.0 (3.9) a,b 22.10.35%0.35% a,b 0.35% Other liabilities265 265 Stockholders' equity5,0405,040 $ 35,054$ (4,503)$ 30,551 Net Interest income$ 233.2 $ (23.2)$ 210.0 Net interest margin (3) 3.08%0.17%3.25% Pro Forma Adjustments a Average balances of PPP loans carried during 2Q21 at an average yield of 5.47%; assume funded from all funding sources. b Estimated average balances of excess liquidity carried during 2Q21 with average yield of 0.14%; assume funded from all funding sources. 48 NIM Adjusted for PPP and Liquidity Impact –1Q21 Estimate PPP and Liquidity Build negatively impacted 1Q21 NIM by 0.27% (2) Yields computed on tax-exempt instruments on a tax equivalent basis and included $7.3 million of taxable equivalent income for the three months ended March 31, 2021 compared to $7.0 million for the three months ended March 31, 2020. The tax-exempt benefit has been reduced by the projected impact of tax-exemptincome that will be disallowed pursuant to IRS Regulations as of and for the then current period presented. (1) Average balances of nonperforming loans are included in the above amounts. (3) Net interest margin is the result of annualized net interest income calculated on a tax equivalent basis divided by average interest-earning assets for the period. Actual Avg Balances 1Q21 ProForma Adjustments Adjusted Avg Balances after PF EntriesInterest ProForma Adjustments Adjusted Interest after PF EntriesRates/ Yields ProForma Yield/ Rate Adj. Adj. Yield/ Rates after PF Entries Loans (1)(2) $ 22,848$ (2,065) a $ 20,783 $ 227.4 $ (23.0) a $ 204.44.11%4.51% a 4.07% Securities (2) Taxable2,271 2,271 7.77.71.38%1.38% Tax-exempt2,3952,395 15.5 15.5 3.15%3.15% Other1601600.60.61.54%1.54% Fed funds sold & Interest- bearing deposits3,196 (2,752) b 445 0.7 $ (0.6) b 0.1 0.09%0.09% b 0.09% $ 30,871 (4,816)$ 26,054 $ 251.9 $ (23.6)$ 228.3 3.41%3.67% Nonearning assets3,789 3,789 $ 34,659 $ (4,816)$ 29,843 Total deposits and Interest- bearing liabilities29,373 (4,816) a,b 24,556 29.0 (4.8) a,b 24.30.40%0.40% a,b 0.40% Other liabilities332 332 Stockholders' equity4,954 4,954 $ 34,659 $ (4,816)$ 29,843 Net Interest income$ 222.9 $ (18.8)$ 204.0 Net interest margin (3) 3.02%0.27%3.29% Pro Forma Adjustments a Average balances of PPP loans carried during 1Q21 at an average yield of 4.51%; assume funded from all funding sources. b Estimated average balances of excess liquidity carried during 1Q21 with average yield of 0.09%; assume funded from all funding sources. 49 NIM Adjusted for PPP and Liquidity Impact –4Q20 Estimate PPP and Liquidity Build negatively impacted 4Q20 NIM by 0.29% (2) Yields computed on tax-exempt instruments on a tax equivalent basis and included $8.4 million of taxable equivalent income for the three months ended December 31, 2020 compared to $8.1 million for the three months ended December 31, 2019. The tax-exempt benefit has been reduced by the projected impact of tax-exempt income that will be disallowed pursuant to IRS Regulations as of and for the then current period presented. (1) Average balances of nonperforming loans are included in the above amounts. (3) Net interest margin is the result of annualized net interest income calculated on a tax equivalent basis divided by average interest-earning assets for the period. Actual Avg Balances 4Q20 ProForma Adjustments Adjusted Avg Balances after PF EntriesInterest ProForma Adjustments Adjusted Interest after PF EntriesRates/ Yields ProForma Yield/ Rate Adj. Adj. Yield/ Rates after PF Entries Loans (1)(2) $ 22,525$ (2,110) a $ 20,414 $ 232.6 $ (24.6) a $ 208.0 4.20%4.64% a 4.16% Securities (2) Taxable2,236 2,236 7.57.5 1.34%1.34% Tax-exempt2,3322,332 15.4 15.4 3.16%3.16% Other1571570.60.61.52%1.52% Fed funds sold & Interest- bearing deposits3,464 (2,978) b 486 0.9 $ (0.8) b 0.1 0.10%0.11% b 0.09% $ 30,714 (5,088)$ 25,626 $ 257.0 $ (25.4)$ 231.6 3.44%3.60% Nonearning assets3,723 3,723 $ 34,437 $ (5,088)$ 29,348 Total deposits and Interest- bearing liabilities29,239 (5,088) a,b 24,150 36.1 (6.3) a,b 29.80.49%0.49% a,b 0.49% Other liabilities346 346 Stockholders' equity4,852 4,852 $ 34,437 $ (5,088)$ 29,348 Net Interest income$ 221.0 $ (19.1)$ 201.9 Net interest margin (3) 2.97%0.29%3.27% Pro Forma Adjustments a Average balances of PPP loans carried during 4Q20 at an average yield of 4.64%; assume funded from all funding sources. b Estimated average balances of excess liquidity carried during 4Q20 with average yield of 0.11%; assume funded from all funding sources. 50 NIM Adjusted for PPP and Liquidity Impact –3Q20 Estimate PPP and Liquidity Build negatively impacted 3Q20 NIM by 0.40% (2) Yields computed on tax-exempt instruments on a tax equivalent basis and included $7.3 million of taxable equivalent income for the three months ended Sept. 30, 2020 compared to $7.5 million for the three months ended September 30, 2019. The tax-exempt benefit has been reduced by the projected impact of tax-exempt income that will be disallowed pursuant to IRS Regulations as of and for the then current period presented. (1) Average balances of nonperforming loans are included in the above amounts. (3) Net interest margin is the result of annualized net interest income calculated on a tax equivalent basis divided by average interest-earning assets for the period. Actual Avg Balances 3Q20 ProForma Adjustments Adjusted Avg Balances after PF EntriesInterest ProForma Adjustments Adjusted Interest after PF EntriesRates/ Yields ProForma Yield/ Rate Adj. Adj. Yield/ Rates after PF Entries Loans (1)(2) $ 22,493 $ (2,235) a $ 20,258 $ 224.5 $ (15.6) a $ 208.9 4.04%2.77% a 4.19% Securities (2) Taxable2,226 2,226 8.38.3 1.43%1.48% Tax-exempt2,194 2,194 15.0 15.0 3.37%3.29% Other1521520.60.61.62%1.62% Fed funds sold & Interest- bearing deposits3,127 (2,616) b 511 0.8 $ (0.7) b 0.1 0.10%0.10% b 0.10% $ 30,192 (4,851)$ 25,341 $ 249.2 $ (16.3)$ 232.9 3.38%3.79% Nonearning assets3,647 3,647 $ 33,839 $ (4,851)$ 28,988 Total deposits and Interest- bearing liabilities28,731 (4,851) a,b 23,880 42.6 (7.2) a,b 35.4 0.59%0.59% a,b 0.59% Other liabilities342 342 Stockholders' equity4,766 4,766 $ 33,839 $ (4,851)$ 28,988 Net Interest income$ 206.6 $ (9.0)$ 197.5 Net interest margin (3) 2.82%0.40%3.22% Pro Forma Adjustments a Average balances of PPP loans carried during 3Q20 at an average yield of 2.77%; assume funded from all funding sources. b Estimated average balances of excess liquidity carried during 3Q20 with average yield of 0.10%; assume funded from all funding sources. 51 NIM Adjusted for PPP and Liquidity Impact –2Q20 Estimate PPP and Liquidity Build negatively impacted 2Q20 NIM by 0.32% (2) Yields computed on tax-exempt instruments on a tax equivalent basis and included $6.9 million of taxable equivalent income for the three months ended June 30, 2020 compared to $6.9 million for the three months ended June 30, 2019. The tax-exempt benefit has been reduced by the projected impact of tax-exempt income that will be disallowed pursuant to IRS Regulations as of and for the then current period presented. (1) Average balances of nonperforming loans are included in the above amounts. (3) Net interest margin is the result of annualized net interest income calculated on a tax equivalent basis divided by average interest-earning assets for the period. Actual Avg Balances 2Q20 ProForma Adjustments Adjusted Avg Balances after PF EntriesInterest ProForma Adjustments Adjusted Interest after PF EntriesRates/ Yields ProForma Yield/ Rate Adj. Adj. Yield/ Rates after PF Entries Loans (1)(2) $ 22,257 $ (1,689) a $ 20,568 $ 226.28 $ (12.12) a $ 214.16 4.16%2.89% a 4.27% Securities (2) Taxable2,157 2,157 9.59 9.59 1.79%1.79% Tax-exempt2,038 2,038 14.60 14.60 3.44%3.44% Fed funds sold2,619 (1,967) b 652 1.27 $ (0.42) b 0.85 0.20%0.09% b 0.29% $ 29,071 (3,656)$ 25,415 $ 251.74 $ (12.54)$ 239.20 3.58%3.89% Nonearning assets3,715 3,715 $ 32,786 $ (3,656)$ 29,130 Total Deposits and Interest Bearing Liabilities27,919 (3,656) a,b 24,263 51.08 (6.69) a,b 44.39 0.74%0.74% a,b 0.74% Other liabilities368 368 Stockholders' equity4,499 4,499 $ 32,786 $ (3,656)$ 29,130 Net Interest income$ 200.66 $ (5.86)$ 194.80 Net interest margin (3) 2.87%0.32%3.19% Pro Forma Adjustments a Average balances of PPP loans carried during 2Q20 at an average yield of 2.89%. Assume funded from all funding sources. b Estimated average balances of excess liquidity carried during 2Q20 with average yield of 0.09%. Assume funded from all funding sources. 52 Income Statement –Mortgage Volumes 1.00% 1.50% 2.00% 2.50% 3.00% 3.50% 4.00% 4.50% 5.00% $25,000 $100,000 $175,000 $250,000 $325,000 $400,000 $475,000 $550,000 $625,000 Purchase Money Refinance Gross fees as a % of loans originated 53 ($'s in thousands) 20182019202020211Q22 PPNR Trends Net interest income $ 736,342$ 766,142$821,788$932,401$239,475 Noninterest income 200,850263,826317,840395,734103,496 Noninterest expense (452,867)(505,148)(564,455)(660,104)(182,661) PPNR before adjustments$ 484,325$ 524,820$575,173$668,031$160,310 Adjustments to PPNR Investment (gains) and losses$ 2,254$ 5,941($986)($759)61 Loss on sale of non-prime automobile portfolio-1,536--- ORE expense (benefit)7234,2288,555(712)105 Merger charges8,259---- FHLB restructuring charges--15,168-- Hedge termination charges--4,673-- Branch rationalization charges-3,189--- Adjusted PPNR $ 495,561$539,714$602,583$666,560$160,476 Adjusted PPNR growth rate*36.6%8.9%11.6%10.6%(2.4%) Net PPNR per share*$6.25$6.84$7.60$8.80$8.45 Adjustments to PPNR per share*$0.15$0.19$0.36$0.02$0.01 Adjusted Net PPNR per share*$6.40$ 7.03$7.96$8.78$8.44 PPNR/share growth rate13.5%9.8%13.2%10.3%(3.9%) Income Statement –PPNR $0 $100 $200 $300 $400 $500 $600 $700 20182019202020211Q22* Adjusted PPNR *: YTD Annualized 54 *: 1Q22 YTD Annualized BHG Financials Increasing equity position supports strong business model Source: BHG Internal Data, unaudited. •Record earnings performance in 1Q22 •Loan sales continue to reflect high premiums, despite rate increases 55 ($'s in thousands) 1Q 20224Q 20211Q 2021 Interest Income83,244$ 72,528$ 34,587$ Interest Expense15,948 13,292 7,222 Provision for Loan Losses24,038 12,148 6,249 Net Interest Income After Provision for Loan Losses43,258 47,088 21,116 Gains on Loan Sales & Origination Fees148,040 129,512 115,992 Other Income7,328 4,699 7,044 Total Net Revenues198,626 181,299 144,152 Gross Revenues238,612 206,739 157,623 Salary and Benefits55,959 56,330 39,190 Marketing Expenses44,618 45,874 24,820 Portfolio Expenses6,863 5,085 4,010 Other Expenses21,359 17,154 17,571 Total Operating Expenses128,800 124,443 85,591 Net Earnings69,826$ 56,856$ 58,562$ Profitability Statistics Earnings to Gross Revenues29.26%27.50%37.15% Portfolio Mgmt Expense to Gross Revenues19.63%14.76%11.09% Operating Expenses to Gross Revenues51.10%57.73%51.76% ($'s in thousands) At M ar 31, 2022 At Dec 31, 2021 At M ar 31, 2021 Cash and Cash Equivalents440,594 373,149 243,772 Loans Held for Investment2,338,317 2,051,137 911,437 Allowance for Loan Losses(57,817) (46,673) (24,719) Loans Held for Sale181,918 156,724 362,098 Premises and Equipment85,617 81,076 58,650 Other Assets117,753 109,127 57,674 Total Assets3,106,382$ 2,724,542$ 1,608,912$ Recourse Obligation207,954 207,311 295,950 Secured Borrowings1,837,361 1,612,423 785,628 Notes Payable464,087 364,997 76,419 Borrower Reimbursable Fee112,364 103,720 80,527 Other Liabilities85,109 66,805 95,540 2,706,875$ 2,355,256$ 1,334,066$ Equity (all Tangible)399,507 369,286 274,846 Total Liabilities & Stockholders Equity3,106,382$ 2,724,542$ 1,608,912$ Loan Liability at Other Bank s4,315,840 4,143,489 3,898,877 Total Outstanding Loan Liability6,596,340 6,147,954 4,785,594 Soundness Statistics: Cash to Assets14.18%13.70%15.15% Equity to Assets12.86%13.55%17.08% Recourse Obligation to Loans at Other Bank s4.82%5.00%7.59% Allowance to Loans Held for Investment2.47%2.28%2.71% Total Reserves against Total Outstanding4.03%4.13%6.70% Total Liabilities Income Statement Reconciliation of Non-GAAP Financial Measures 56 Income Statement Reconciliation of Non-GAAP Financial Measures 57 2022 Peer Group 58 Institution NameTickerCity, State Pinnacle Financial Partners, Inc.PNFPNashville, TN Comerica Inc. CMADallas, TX First Horizon Corp. FHNMemphis, TN Zions Bancorp. NAZIONSalt Lake City, UT Synovus Financial Corp.SNVColumbus, GA Cullen/Frost Bankers, Inc.CFRSan Antonio, TX Wintrust Financial CorporationWTFCRosemont, IL Valley National BancorpVLYNew York, NY South State CorporationSSBWinter Haven, FL F.N.B. CorporationFNBPittsburgh, PA UMB Financial CorporationUMBFKansas City, MO Prosperity Bancshares, Inc.PBHouston, TX PacWest BancorpPACWBeverly Hills, CA Hancock Whitney CorporationHWCGulfport, MS Bank United Inc.BKUHouston, TX Commerce Bancshares, Inc.CBSHKansas City, MO Associated Banc-corpASBGreen Bay, WI Umpqua Holdings CorporationUMPQPortland, OR Cadence BankCADETupelo, MS United Bankshares Inc. UBSICharleston, WV Fulton Financial CorporationFULTLancaster, PA Bank OZKOZKLittle Rock, AR Simmons First National CorporationSFNCPine Bluff, AR Investor Call FIRST QUARTER 2022 M. TERRY TURNER, PRESIDENT AND CEO HAROLD R. CARPENTER, EVP AND CFO

FOR IMMEDIATE RELEASE MEDIA CONTACT:Joe Bass, 615-743-8219 FINANCIAL CONTACT:Harold Carpenter, 615-744-3742 WEBSITE: www.pnfp.com PNFP REPORTS 2Q25 DILUTED EPS OF $2.00 Linked-quarter annualized growth for loans was 10.7%; Net interest margin increased to 3.23% in 2Q25 NASHVILLE, TN, July 15, 2025 - Pinnacle Financial Partners, Inc. (Nasdaq/NGS: PNFP) reported net income per diluted common share of $2.00 for the quarter ended June 30, 2025, compared to net income per diluted common share of $0.64 for the quarter ended June 30, 2024, an increase of approximately 212.5 percent. Net income per diluted common share was $3.77 for the six months ended June 30, 2025, compared to net income per diluted common share of $2.21 for the six months ended June 30, 2024, an increase of approximately 70.6 percent. After considering the adjustments noted in the table below, net income per diluted common share was $2.00 for the three months ended June 30, 2025, compared to $1.63 for the three months ended June 30, 2024, an increase of 22.7 percent. Net income per diluted common share, adjusted for the items noted in the table below, was $3.90 for the six months ended June 30, 2025, compared to net income per diluted common share of $3.16 for the six months ended June 30, 2024, an increase of approximately 23.4 percent. Three months ended Six Months Ended June 30, 2025 March 31, 2025 June 30, 2024 June 30, 2025 June 30, 2024 Diluted earnings per common share$ 2.00 $ 1.77 $ 0.64 $ 3.77 $ 2.21 Adjustments, net of tax (1) : Investment losses on sales of securities, net — 0.12 0.71 0.12 0.71 Recognition of mortgage servicing asset — — — — (0.12) FDIC special assessment — — — — — 0.08 Fees related to terminating agreement to resell securities previously purchased and professional fees associated with capital optimization initiatives — — 0.28 — 0.28 Diluted earnings per common share after adjustments$ 2.00 $ 1.90 $ 1.63 $ 3.90 $ 3.16 Numbers may not foot due to rounding. (1) : Adjustments include tax effect calculated using a marginal tax rate of 25.00 percent for all periods presented. "Second quarter results demonstrate again the reliability of our differentiated model to produce outsized revenue, earnings per share and loan growth regardless of the operating environment," said M. Terry Turner, Pinnacle's president and chief executive officer. "Our second quarter revenues increased by approximately 36.4 percent linked-quarter annualized over the first quarter of 2025 and 21.8 percent over the same quarter last year. Fully diluted earnings per share after adjustments were up 21.1 percent linked-quarter annualized over the first quarter of 2025 and 22.7 percent over the same quarter last year. Also, loan growth for the second quarter was approximately 10.7 percent linked-quarter annualized in comparison to the first quarter of 2025. "During the second quarter, we continued to be very active on the recruiting front, attracting 38 revenue producers as we continue to invest in the future growth of our firm. Thus far this year, we have hired 71 revenue producers which puts us on pace to have another very strong recruiting year for our firm. During the second quarter, we announced an expansion into Richmond, 1 VA, another outstanding banking market in the Southeast. We entered Richmond with a de novo start by hiring six local bankers with an average experience level of approximately 28 years. We are very excited to welcome these banking professionals to the Pinnacle family." BALANCE SHEET GROWTH AND LIQUIDITY: Total assets at June 30, 2025, were $54.8 billion, an increase of approximately $546.6 million from March 31, 2025, and $5.4 billion from June 30, 2024, reflecting a linked-quarter annualized increase of 4.0 percent and a year-over-year increase of 11.0 percent. A further analysis of select balance sheet trends follows: Loans$ 37,105,164 $ 36,136,746 10.7%$ 33,769,150 9.9% Securities 9,066,651 8,718,794 16.0% 7,882,891 15.0% Other interest-earning assets 2,923,964 3,776,121 (90.3)% 2,433,910 20.1% Total interest-earning assets$ 49,095,779 $ 48,631,661 3.8%$ 44,085,951 11.4% Core deposits: Noninterest-bearing deposits$ 8,640,759 $ 8,507,351 6.3%$ 7,932,882 8.9% Interest-bearing core deposits (1) $ 31,120,278 $ 31,505,648 (4.9)%$ 27,024,945 15.2% Noncore deposits and other funding (2) $ 7,698,394 $ 7,042,510 37.3%$ 7,569,703 1.7% Total funding $ 47,459,431 $ 47,055,509 3.4%$ 42,527,530 11.6% Balances at Linked- Quarter Annualized % Change Balances at Year-over-Year % Change(dollars in thousands) June 30, 2025 March 31, 2025 June 30, 2024 (1) : Interest-bearing core deposits are interest-bearing deposits, money market accounts and time deposits less than $250,000 including reciprocating time and money market deposits. (2) : Noncore deposits and other funding consists of time deposits greater than $250,000, securities sold under agreements to repurchase, public funds, brokered deposits, FHLB advances and subordinated debt. "Loan growth was one of our highlights for the second quarter," said Harold R. Carpenter, Pinnacle’s chief financial officer. "Our commercial and industrial (C&I) loan segment continued to show strong growth as these loans increased 21.9 percent linked quarter annualized in the second quarter. Our other loans, including commercial real estate loans, increased linked-quarter at an annualized rate of approximately 3.5 percent between the first and second quarters. We expect growth rates for other loan segments to increase primarily because our appetite for sound commercial real estate projects has increased because of essentially achieving our lower concentration limits for commercial real estate lending. We have been below our construction lending concentration limit for several quarters and are now just slightly above our limit for the broader commercial real estate lending concentration limit. "We will continue to rely on our recent hires, newer markets and specialty areas to fuel our loan growth as they move clients from competitors to our firm in an outsized way. As to deposit growth, our deposits increased by $519.8 million in the second quarter from the first quarter. Perhaps most important is that our noninterest bearing deposits, which are primarily composed of client operating accounts, increased by $133.4 million in the second quarter, and are now up by $470.3 million year-to date, or about 11.5 percent annualized." 2 PRE-TAX, PRE-PROVISION NET REVENUE (PPNR) GROWTH AND PROFITABILITY: Pre-tax, pre-provision net revenues (PPNR) for the three and six months ended June 30, 2025 were $218.5 million and $405.9 million, respectively, compared to $95.2 million and $280.9 million, respectively, recognized in the three and six months ended June 30, 2024. As noted in the table below, adjusted PPNR for the three and six months ended June 30, 2025 were $218.7 million and $418.6 million, respectively, compared to $195.7 million and $377.0 million, respectively, recognized in the three and six months ended June 30, 2024, an increase of 11.8 percent and 11.0 percent, respectively. Revenues: Net interest income$ 379,533 $ 332,262 14.2 %$ 743,961 $ 650,296 14.4 % Noninterest income 125,457 34,288 >100.0% 223,883 144,391 55.1 % Total revenues 504,990 366,550 37.8 % 967,844 794,687 21.8 % Noninterest expense 286,446 271,389 5.5 % 561,933 513,754 9.4 % Pre-tax, pre-provision net revenue 218,544 95,161 >100.0% 405,911 280,933 44.5 % Adjustments: Investment losses on sales of securities, net — 72,103 (100.0) % 12,512 72,103 >(100.0)% Recognition of mortgage servicing asset — — NM — (11,812) (100.0) % ORE expense 137 22 >100.0% 195 106 84.0 % FDIC special assessment — — NM — 7,250 (100.0) % Fees related to terminating agreement to resell securities previously purchased and professional fees associated with capital optimization initiatives — 28,400 (100.0) % — 28,400 (100.0) % Adjusted pre-tax pre-provision net revenue$ 218,681 $ 195,686 11.8 %$ 418,618 $ 376,980 11.0 % Three months ended Six months ended June 30,June 30, (dollars in thousands)20252024 % change20252024% change Three months endedSix months ended June 30, 2025March 31, 2025June 30, 2024June 30, 2025June 30, 2024 Net interest margin 3.23 % 3.21 % 3.14 % 3.22 % 3.09 % Efficiency ratio 56.72 % 59.52 % 74.04 % 58.06 % 64.65 % Return on average assets 1.15 % 1.05 % 0.41 % 1.10 % 0.70 % Return on average tangible common equity (TCE) 13.75 % 12.51 % 4.90 % 13.14 % 8.48 % Average loan to deposit ratio 83.57 % 83.78 % 84.95 % 83.68 % 84.84 % Net interest income for the second quarter of 2025 was $379.5 million, compared to $332.3 million for the second quarter of 2024, a year-over-year growth rate of 14.2 percent. Net interest margin was 3.23 percent for the second quarter of 2025, compared to 3.14 percent for the second quarter of 2024. Total revenues for the second quarter of 2025 were $505.0 million, compared to $366.6 million for the second quarter of 2024. As noted in the table below, adjusted total revenues for the second quarter of 2025 were $505.0 million, compared to $438.7 million for the second quarter of 2024, a year-over-year increase of 15.1 percent. 3 Three months ended Linked-quarter Annualized % Change Three months ended Yr-over-Yr % Change(dollars in thousands)June 30, 2025March 31, 2025June 30, 2024 Net interest income$ 379,533 $ 364,428 16.6 %$ 332,262 14.2 % Noninterest income 125,457 98,426 >100.0% 34,288 >100.0% Total revenues 504,990 462,854 36.4 % 366,550 37.8 % Adjustments: Investment losses on sales of securities, net — 12,512 (100.0) % 72,103 (100.0) % Adjusted total revenues$ 504,990 $ 475,366 24.9 %$ 438,653 15.1 % •Wealth management revenues, which include investment, trust and insurance services, were $32.3 million for the second quarter of 2025, compared to $27.8 million for the second quarter of 2024, a year-over-year increase of 16.4 percent. The increase in wealth management revenues continues to be primarily attributable to an increase in capacity as we hire more revenue producers across the firm, but particularly in the areas of the firm's most recent market extensions. •Income from the firm's investment in Banker's Healthcare Group (BHG) was $26.0 million for the second quarter of 2025, compared to $18.7 million for the second quarter of 2024, a year-over-year increase of 39.3 percent. ◦BHG's loan originations were $1.5 billion in the second quarter of 2025, compared to $1.2 billion in the first quarter of 2025 and $871 million in the second quarter of 2024. ◦Loans sold to BHG's community bank partners were approximately $614 million in the second quarter of 2025, compared to $605 million in the first quarter of 2025 and $467 million in the second quarter of 2024. ◦BHG reserves for on-balance sheet loan losses were $279.1 million, or 10.5 percent of loans held for investment at June 30, 2025, compared to 9.2 percent at March 31, 2025, and 9.9 percent at June 30, 2024. ◦At June 30, 2025, BHG increased its accrual for estimated losses attributable to loan substitutions and prepayments to $624.4 million, or 7.8 percent of the unpaid balances on loans that were previously purchased by BHG's community bank network, compared to 7.5 percent at March 31, 2025 and 5.9 percent at June 30, 2024. •Other noninterest income was $47.9 million for the quarter ended June 30, 2025, an increase of $6.1 million from the second quarter of 2024. Contributing to the increase in other noninterest income during the second quarter of 2025 was approximately $3.2 million in revenues due to the increase in fair value of other equity investments. Noninterest expense for the second quarter of 2025 was $286.4 million, compared to $271.4 million for the second quarter of 2024. As noted in the table below, adjusted noninterest expense for the second quarter of 2025 was $286.3 million, compared to $243.0 million for the second quarter of 2024. Three months ended Linked-quarter Annualized % Change Three months ended Yr-over-yr % Change (dollars in thousands) June 30, 2025March 31, 2025June 30, 2024 Noninterest expense $ 286,446 $ 275,487 15.9 %$ 271,389 5.5 % Less: ORE expense 137 58 >100.0% 22 >100.0% Fees related to terminating agreement to resell securities previously purchased and professional fees associated with capital optimization initiatives — — N/A 28,400 100.0 % Adjusted noninterest expense$ 286,309 $ 275,429 15.8 %$ 242,967 17.8 % 4 •Salaries and employee benefits were $181.2 million in the second quarter of 2025, compared to $150.1 million in the second quarter of 2024, reflecting a year-over-year increase of 20.7 percent. ◦Cash incentive costs in the second quarter of 2025 totaling $33.5 million were approximately $16.0 million higher than the second quarter of 2024. The increase in cash incentive costs was due to increases in headcount, annual merit raises and other base salary adjustments for participants in the Company's annual cash incentive plan and, importantly, an increase in the estimated payout for anticipated incentive award payouts. The second quarter 2024 accrual assumed an approximate 80 percent of target payout for 2024 compared to a second quarter 2025 accrual that assumes an approximate 115 percent of target payout for 2025. •Equipment and occupancy costs were $48.0 million in the second quarter of 2025, compared to $41.0 million in the second quarter of 2024, resulting in a year-over-year increase of 17.1 percent. This increase was primarily attributable to the opening of nine new full-service locations throughout the Company's footprint since January 1, 2024 and the relocation of the Company's corporate headquarters to a new location in downtown Nashville during the first quarter of 2025. •Marketing and other business development costs were $8.8 million in the second quarter of 2025, compared to $6.8 million in the second quarter of 2024, resulting in a year-over-year increase of 29.5 percent. The primary drivers of the increases in marketing and business development costs were the Company's partnership with The Pinnacle, Nashville's newest live music venue, which opened in March 2025, and other factors including increases in both client and associate engagement expenses due to our increased headcount and market extensions. •Noninterest expense categories, other than those specifically noted above, were $48.4 million in the second quarter of 2025, compared to $73.5 million in the second quarter of 2024, resulting in a year-over-year decrease of 34.1 percent. Primarily impacting the changes in other noninterest expense between the second quarter of 2025 and the comparable period in 2024 was the impact of the $28.4 million in fees paid in the second quarter of 2024 to terminate the resell agreement and professional fees incurred in connection with the capital optimization initiatives completed in the second quarter of 2024. "Revenue growth has been a focus for us since our founding almost 25 years ago," Carpenter said. "Second quarter revenues amounted to approximately $505.0 million, which was a 37.8 percent increase over the same period last year. Loan growth was the driver for net interest income growth as second quarter net interest income was 14.2 percent greater in the second quarter of 2025 than the same quarter last year. As anticipated, we did experience some margin expansion in the second quarter from the first quarter and expect continued expansion into the third quarter. We attribute margin expansion, in part, to our deliberate focus on prudently managing our funding costs in spite of meaningful growth in our interest earning asset base. "Noninterest income growth was another highlight for the quarter," Carpenter said. "Excluding the impact of a bond restructuring trade during the first quarter of 2025, we continued to see quarter-over-quarter growth in nearly every core banking fee category. We are particularly pleased with our efforts in commercial analysis and wealth management as we continue to experience strong growth in these strategically important areas. BHG had another sound quarter, providing $26.0 million in fee revenues to our firm in the second quarter of 2025, which was approximately $5.6 million higher than the first quarter of 2025 and $7.3 million higher than the second quarter of 2024." 5 CAPITAL AND SOUNDNESS: As of June 30, 2025 December 31, 2024 June 30, 2024 Shareholders' equity to total assets 12.1 % 12.2 % 12.5 % Tangible common equity to tangible assets 8.6 % 8.6 % 8.6 % Book value per common share$ 82.79 $ 80.46 $ 77.15 Tangible book value per common share$ 58.70 $ 56.24 $ 52.92 Annualized net loan charge-offs to avg. loans (1) 0.20 % 0.24 % 0.27 % Nonperforming assets to total loans, ORE and other nonperforming assets (NPAs) 0.44 % 0.42 % 0.30 % Classified asset ratio (Pinnacle Bank) (2) 3.90 % 3.79 % 3.99 % Construction and land development loans as a percentage of total capital (3) 61.80 % 70.50 % 72.90 % Construction and land development, non-owner occupied commercial real estate and multi-family loans as a percentage of total capital (3) 228.60 % 242.20 % 254.00 % Allowance for credit losses (ACL) to total loans 1.14 % 1.17 % 1.13 % (1) : Annualized net loan charge-offs to average loans ratios are computed by annualizing quarterly net loan charge-offs and dividing the result by average loans for the quarter. (2) : Classified assets as a percentage of Tier 1 capital plus allowance for credit losses. (3): Calculated using the same guidelines as are used in the Federal Financial Institutions Examination Council's Uniform Bank Performance Report. "We continue to be pleased with the overall soundness of our firm," Carpenter said. "Our capital ratios remain strong, and we have successfully reduced our concentration levels in commercial real estate. All the while, our tangible book value per share, which we believe is a key metric to creating shareholder value, continues to grow in an outsized way. All things considered, despite economic uncertainties and based on our differentiated model, we remain optimistic regarding our performance for the remainder of 2025." BOARD OF DIRECTORS DECLARES COMMON DIVIDENDS On July 15, 2025, Pinnacle Financial's Board of Directors approved a quarterly cash dividend of $0.24 per common share to be paid on Aug. 29, 2025 to common shareholders of record as of the close of business on Aug. 1, 2025. Additionally, Pinnacle's Board of Directors approved a quarterly cash dividend of approximately $3.8 million, or $16.88 per share (or $0.422 per depositary share), on Pinnacle Financial's 6.75 percent Series B Non-Cumulative Perpetual Preferred Stock payable on Sept. 1, 2025 to shareholders of record at the close of business on Aug. 17, 2025. The amount and timing of any future dividend payments to both preferred and common shareholders will be subject to the approval of Pinnacle's Board of Directors. WEBCAST AND CONFERENCE CALL INFORMATION Pinnacle will host a webcast and conference call at 8:30 a.m. CT on July 16, 2025, to discuss second quarter 2025 results and other matters. To access the call for audio only, please call 1-877-209-7255. For the presentation and streaming audio, please access the webcast on the investor relations page of Pinnacle's website at investors.pnfp.com. Pinnacle Financial Partners provides a full range of banking, investment, trust, mortgage and insurance products and services designed for businesses and their owners and individuals interested in a comprehensive relationship with their financial institution. The firm is the No. 1 bank in the Nashville-Murfreesboro-Franklin MSA, according to 2024 deposit data from the FDIC. Pinnacle is No. 9 on FORTUNE magazine’s 2025 list of 100 Best Companies to Work For® in the U.S., its ninth consecutive appearance and was recognized by American Banker as one of America’s Best Banks to Work For 12 years in a row and No. 1 among banks with more than $10 billion in assets in 2024. 6 The firm began operations in a single location in downtown Nashville, TN in October 2000 and has since grown to approximately $54.8 billion in assets as of June 30, 2025. As the second-largest bank holding company headquartered in Tennessee, Pinnacle operates in several primarily urban markets across the Southeast. Additional information concerning Pinnacle, which is included in the Nasdaq Financial-100 Index, can be accessed at www.pnfp.com. ### Forward-Looking Statements All statements, other than statements of historical fact, included in this press release, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The words "expect," "aim," "anticipate," "intend," "may," "should," "plan," "looking for," "believe," "seek," "estimate" and similar expressions are intended to identify such forward-looking statements, but other statements not based on historical information may also be considered forward-looking statements. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could cause the actual results to differ materially from the statements, including, but not limited to: (i) deterioration in the financial condition of borrowers of Pinnacle Bank and its subsidiaries or BHG, including as a result of persistent elevated interest rates, the negative impact of inflationary pressures and challenging and uncertain economic conditions on our and BHG's customers and their businesses, resulting in significant increases in loan losses and provisions for those losses and, in the case of BHG, substitutions; (ii) fluctuations or differences in interest rates on loans or deposits from those that Pinnacle Financial is modeling or anticipating, including as a result of Pinnacle Bank's inability to better match deposit rates with the changes in the short-term rate environment, or that affect the yield curve; (iii) the impact of U.S. and global economic conditions, trade policies and tensions, including changes in, or the imposition of, tariffs and/or trade barriers and the economic impacts, volatility and uncertainty resulting therefrom, and geopolitical instability; (iv) the sale of investment securities in a loss position before their value recovers, including as a result of asset liability management strategies or in response to liquidity needs; (v) adverse conditions in the national or local economies including in Pinnacle Financial's markets throughout the Southeast region of the United States, particularly in commercial and residential real estate markets; (vi) the inability of Pinnacle Financial, or entities in which it has significant investments, like BHG, to maintain the long-term historical growth rate of its, or such entities', loan portfolio; (vii) the ability to grow and retain low-cost core deposits and retain large, uninsured deposits, including during times when Pinnacle Bank is seeking to limit the rates it pays on deposits or uncertainty exists in the financial services sector; (viii) changes in loan underwriting, credit review or loss reserve policies associated with economic conditions, examination conclusions, or regulatory developments; (ix) effectiveness of Pinnacle Financial's asset management activities in improving, resolving or liquidating lower-quality assets; (x) the impact of competition with other financial institutions, including pricing pressures and the resulting impact on Pinnacle Financial’s results, including as a result of the negative impact to net interest margin from elevated deposit and other funding costs; (xi) the results of regulatory examinations of Pinnacle Financial, Pinnacle Bank or BHG, or companies with whom they do business; (xii) BHG's ability to profitably grow its business and successfully execute on its business plans; (xiii) risks of expansion into new geographic or product markets; (xiv) any matter that would cause Pinnacle Financial to conclude that there was impairment of any asset, including goodwill or other intangible assets; (xv) the ineffectiveness of Pinnacle Bank's hedging strategies, or the unexpected counterparty failure or hedge failure of the underlying hedges; (xvi) reduced ability to attract additional financial advisors (or failure of such advisors to cause their clients to switch to Pinnacle Bank), to retain financial advisors (including as a result of the competitive environment for associates) or otherwise to attract customers from other financial institutions; (xvii) deterioration in the valuation of other real estate owned and increased expenses associated therewith; (xviii) inability to comply with regulatory capital requirements, including those resulting from changes to capital calculation methodologies, required capital maintenance levels or regulatory requests or directives, particularly if Pinnacle Bank's level of applicable commercial real estate loans were to exceed percentage levels of total capital in guidelines recommended by its regulators; (xix) approval of the declaration of any dividend by Pinnacle Financial's board of directors; (xx) the vulnerability of Pinnacle Bank's network and online banking portals, and the systems of parties with whom Pinnacle Bank contracts, to unauthorized access, computer viruses, phishing schemes, spam or ransomware attacks, human error, natural disasters, power loss and other security breaches; (xxi) the possibility of increased compliance and operational costs as a result of increased regulatory oversight (including by the Consumer Financial Protection Bureau), including oversight of companies in which Pinnacle Financial or Pinnacle Bank have significant investments, like BHG, and the development of additional banking products for Pinnacle Bank's corporate and consumer clients; (xxii) Pinnacle Financial's ability to identify potential candidates for, consummate, and achieve synergies from, potential future acquisitions; (xxiii) difficulties and delays in integrating acquired businesses or fully realizing costs savings and other benefits from acquisitions; (xxiv) the risks associated with Pinnacle Bank being a minority investor in BHG, including the risk that the owners of a majority of the equity interests in BHG decide to sell the company or all or a portion of their ownership interests in BHG (triggering a similar sale by Pinnacle Bank); (xxv) changes in state and federal legislation, regulations or policies applicable to banks and other financial service providers, like BHG, including regulatory or legislative developments; (xxvi) fluctuations in the valuations of Pinnacle Financial's equity investments and the ultimate success of such investments; (xxvii) the availability of and access to capital; (xxviii) adverse results (including costs, fines, reputational harm, inability to obtain necessary approvals and/or other negative effects) from current or future litigation, regulatory 7 examinations or other legal and/or regulatory actions involving Pinnacle Financial, Pinnacle Bank or BHG; and (xxix) general competitive, economic, political and market conditions. Throughout this document, numbers may not foot due to rounding. Additional factors which could affect the forward looking statements can be found in Pinnacle Financial's Annual Report on Form 10-K for the year ended December 31, 2024, and subsequently filed Quarterly Reports on Form 10-Q and Current Reports on Form 8-K filed with the SEC and available on the SEC's website at http://www.sec.gov. Pinnacle Financial disclaims any obligation to update or revise any forward-looking statements contained in this press release, which speak only as of the date hereof, whether as a result of new information, future events or otherwise. Non-GAAP Financial Matters This release contains certain non-GAAP financial measures, including, without limitation, total revenues, net income to common shareholders, earnings per diluted common share, revenue per diluted common share, PPNR, efficiency ratio, noninterest expense, noninterest income and the ratio of noninterest expense to average assets, excluding in certain instances the impact of expenses related to other real estate owned, gains or losses on sale of investment securities, charges related to the FDIC special assessment, income associated with the recognition of a mortgage servicing asset in the first quarter of 2024, fees related to terminating an agreement to resell securities previously purchased and professional fees associated with capital optimization initiatives in the second quarter of 2024 and other matters for the accounting periods presented. This release may also contain certain other non- GAAP capital ratios and performance measures that exclude the impact of goodwill and core deposit intangibles associated with Pinnacle Financial's acquisitions of BNC, Avenue Bank, Magna Bank, CapitalMark Bank & Trust, Mid-America Bancshares, Inc., Cavalry Bancorp, Inc. and other acquisitions which collectively are less material to the non-GAAP measure as well as the impact of Pinnacle Financial's Series B Preferred Stock. The presentation of the non-GAAP financial information is not intended to be considered in isolation or as a substitute for any measure prepared in accordance with GAAP. Because non-GAAP financial measures presented in this release are not measurements determined in accordance with GAAP and are susceptible to varying calculations, these non-GAAP financial measures, as presented, may not be comparable to other similarly titled measures presented by other companies. Pinnacle Financial believes that these non-GAAP financial measures facilitate making period-to-period comparisons and are meaningful indications of its operating performance. In addition, because intangible assets such as goodwill and the core deposit intangible, and the other items excluded each vary extensively from company to company, Pinnacle Financial believes that the presentation of this information allows investors to more easily compare Pinnacle Financial's results to the results of other companies. Pinnacle Financial's management utilizes this non-GAAP financial information to compare Pinnacle Financial's operating performance for 2025 versus certain periods in 2024 and to internally prepared projections. 8 PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS – UNAUDITED (dollars in thousands, except for share and per share data) June 30, 2025Dec. 31, 2024June 30, 2024 ASSETS Cash and noninterest-bearing due from banks$ 370,926 $ 320,320 $ 219,110 Restricted cash 112,547 93,645 50,924 Interest-bearing due from banks 2,506,531 3,021,960 2,107,883 Cash and cash equivalents 2,990,004 3,435,925 2,377,917 Securities purchased with agreement to resell 93,293 66,449 71,903 Securities available-for-sale, at fair value 6,378,688 5,582,369 4,908,967 Securities held-to-maturity (fair value of $2.4 billion, $2.6 billion and $2.7 billion, net of allowance for credit losses of $1.7 million, $1.7 million, and $1.7 million at June 30, 2025, Dec. 31, 2024, and June 30, 2024, respectively) 2,687,963 2,798,899 2,973,924 Consumer loans held-for-sale 201,342 175,627 187,154 Commercial loans held-for-sale 10,251 19,700 16,046 Loans 37,105,164 35,485,776 33,769,150 Less allowance for credit losses (422,125) (414,494) (381,601) Loans, net 36,683,039 35,071,282 33,387,549 Premises and equipment, net 321,062 311,277 282,775 Equity method investment 380,982 436,707 433,073 Accrued interest receivable 219,395 214,080 220,232 Goodwill 1,848,904 1,849,260 1,846,973 Core deposits and other intangible assets 19,506 21,423 24,313 Other real estate owned 4,835 1,278 2,636 Other assets 2,962,187 2,605,173 2,633,507 Total assets$ 54,801,451 $ 52,589,449 $ 49,366,969 LIABILITIES AND SHAREHOLDERS' EQUITY Deposits: Noninterest-bearing$ 8,640,759 $ 8,170,448 $ 7,932,882 Interest-bearing 14,301,168 14,125,194 12,600,723 Savings and money market accounts 17,116,882 16,197,397 14,437,407 Time 4,940,435 4,349,953 4,799,368 Total deposits 44,999,244 42,842,992 39,770,380 Securities sold under agreements to repurchase 258,454 230,244 220,885 Federal Home Loan Bank advances 1,775,470 1,874,134 2,110,885 Subordinated debt and other borrowings 426,263 425,821 425,380 Accrued interest payable 49,181 55,619 58,881 Other liabilities 655,602 728,758 605,890 Total liabilities 48,164,214 46,157,568 43,192,301 Preferred stock, no par value, 10.0 million shares authorized; 225,000 shares non-cumulative perpetual preferred stock, Series B, liquidation preference $225.0 million, issued and outstanding at June 30, 2025, Dec. 31, 2024, and June 30, 2024, respectively 217,126 217,126 217,126 Common stock, par value $1.00; 180.0 million shares authorized; 77.5 million, 77.2 million and 77.2 million shares issued and outstanding at June 30, 2025, Dec. 31, 2024, and June 30, 2024, respectively 77,548 77,242 77,217 Additional paid-in capital 3,131,498 3,129,680 3,110,993 Retained earnings 3,429,363 3,175,777 2,919,923 Accumulated other comprehensive loss, net of taxes (218,298) (167,944) (150,591) Total shareholders' equity 6,637,237 6,431,881 6,174,668 Total liabilities and shareholders' equity$ 54,801,451 $ 52,589,449 $ 49,366,969 This information is preliminary and based on company data available at the time of the presentation. 9 PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF INCOME – UNAUDITED (dollars in thousands, except for share and per share data) Three months endedSix months ended June 30, 2025March 31, 2025June 30, 2024June 30, 2025June 30, 2024 Interest income: Loans, including fees$ 568,857 $ 547,368 $ 551,659 $ 1,116,225 $ 1,092,858 Securities Taxable 66,989 61,853 51,578 128,842 96,048 Tax-exempt 27,104 25,230 24,372 52,334 48,972 Federal funds sold and other 31,820 33,709 40,781 65,529 80,995 Total interest income 694,770 668,160 668,390 1,362,930 1,318,873 Interest expense: Deposits 284,614 273,393 304,449 558,007 605,417 Securities sold under agreements to repurchase 1,222 1,026 1,316 2,248 2,715 FHLB advances and other borrowings 29,401 29,313 30,363 58,714 60,445 Total interest expense 315,237 303,732 336,128 618,969 668,577 Net interest income 379,533 364,428 332,262 743,961 650,296 Provision for credit losses 24,245 16,960 30,159 41,205 64,656 Net interest income after provision for credit losses 355,288 347,468 302,103 702,756 585,640 Noninterest income: Service charges on deposit accounts 17,092 17,028 14,563 34,120 28,002 Investment services 19,324 18,817 15,720 38,141 30,471 Insurance sales commissions 3,693 4,674 3,715 8,367 7,567 Gains on mortgage loans sold, net 1,965 2,507 3,270 4,472 6,149 Investment losses on sales of securities, net — (12,512) (72,103) (12,512) (72,103) Trust fees 9,280 9,340 8,323 18,620 15,738 Income from equity method investment 26,027 20,405 18,688 46,432 34,723 Gain on sale of fixed assets 202 210 325 412 383 Other noninterest income 47,874 37,957 41,787 85,831 93,461 Total noninterest income 125,457 98,426 34,288 223,883 144,391 Noninterest expense: Salaries and employee benefits 181,246 172,089 150,117 353,335 296,127 Equipment and occupancy 48,043 46,180 41,036 94,223 80,682 Other real estate, net 137 58 22 195 106 Marketing and other business development 8,772 8,666 6,776 17,438 12,901 Postage and supplies 3,192 3,370 3,135 6,562 5,906 Amortization of intangibles 1,400 1,417 1,568 2,817 3,152 Other noninterest expense 43,656 43,707 68,735 87,363 114,880 Total noninterest expense 286,446 275,487 271,389 561,933 513,754 Income before income taxes 194,299 170,407 65,002 364,706 216,277 Income tax expense 35,759 29,999 11,840 65,758 39,171 Net income 158,540 140,408 53,162 298,948 177,106 Preferred stock dividends (3,798) (3,798) (3,798) (7,596) (7,596) Net income available to common shareholders $ 154,742 $ 136,610 $ 49,364 $ 291,352 $ 169,510 Per share information: Basic net income per common share $ 2.01 $ 1.78 $ 0.65 $ 3.79 $ 2.22 Diluted net income per common share $ 2.00 $ 1.77 $ 0.64 $ 3.77 $ 2.21 Weighted average common shares outstanding: Basic 76,891,035 76,726,545 76,506,121 76,809,244 76,392,287 Diluted 77,277,054 76,964,625 76,644,227 77,212,262 76,531,419 This information is preliminary and based on company data available at the time of the presentation. 10 PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Unaudited) (dollars and shares in thousands) Preferred Stock Amount Common Stock Additional Paid- in Capital Retained Earnings Accumulated Other Comp. Income (Loss), net Total Shareholders' Equity SharesAmounts Balance at December 31, 2023$ 217,126 76,767 $ 76,767 $ 3,109,493 $ 2,784,927 $ (152,525) $ 6,035,788 Preferred dividends paid ($33.76 per share) — — — — (7,596) — (7,596) Common dividends paid ($0.44 per share) — — — — (34,514) — (34,514) Issuance of restricted common shares — 212 212 (212) — — — Forfeiture of restricted common shares — (18) (18) 18 — — — Restricted shares withheld for taxes & related tax benefits — (55) (55) (4,529) — — (4,584) Issuance of common stock pursuant to restricted stock unit (RSU) and performance stock unit (PSU) agreements, net of shares withheld for taxes & related tax benefits — 311 311 (14,739) — — (14,428) Compensation expense for restricted shares, RSUs and PSUs — — — 20,962 — — 20,962 Net income — — — — 177,106 — 177,106 Other comprehensive gain — — — — — 1,934 1,934 Balance at June 30, 2024$ 217,126 77,217 $ 77,217 $ 3,110,993 $ 2,919,923 $ (150,591) $ 6,174,668 Balance at December 31, 2024$ 217,126 77,242 $ 77,242 $ 3,129,680 $ 3,175,777 $ (167,944) $ 6,431,881 Preferred dividends paid ($33.76 per share) — — — — (7,596) — (7,596) Common dividends paid ($0.48 per share) — — — — (37,766) — (37,766) Issuance of restricted common shares — 162 162 (162) — — — Forfeiture of restricted common shares — (21) (21) 21 — — — Restricted shares withheld for taxes & related tax benefits — (55) (55) (6,211) — — (6,266) Issuance of common stock pursuant to RSU and PSU agreements, net of shares withheld for taxes & related tax benefits — 220 220 (13,409) — — (13,189) Compensation expense for restricted shares, RSUs and PSUs — — — 21,579 — — 21,579 Net income — — — — 298,948 — 298,948 Other comprehensive loss — — — — — (50,354) (50,354) Balance at June 30, 2025$ 217,126 77,548 $ 77,548 $ 3,131,498 $ 3,429,363 $ (218,298) $ 6,637,237 11 PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES SELECTED QUARTERLY FINANCIAL DATA – UNAUDITED (dollars in thousands) June MarchDecemberSeptemberJuneMarch 202520252024202420242024 Balance sheet data, at quarter end: Commercial and industrial loans$ 14,905,306 14,131,312 13,815,817 12,986,865 12,328,622 11,893,198 Commercial real estate - owner occupied loans 4,744,806 4,594,376 4,388,531 4,264,743 4,217,351 4,044,973 Commercial real estate - investment loans 5,891,694 5,977,583 5,931,420 5,919,235 5,998,326 6,138,711 Commercial real estate - multifamily and other loans 2,393,696 2,360,515 2,198,698 2,213,153 2,185,858 1,924,931 Consumer real estate - mortgage loans 5,163,761 4,977,358 4,914,482 4,907,766 4,874,846 4,828,416 Construction and land development loans 3,412,060 3,525,860 3,699,321 3,486,504 3,621,563 3,818,334 Consumer and other loans 593,841 569,742 537,507 530,044 542,584 514,310 Total loans 37,105,164 36,136,746 35,485,776 34,308,310 33,769,150 33,162,873 Allowance for credit losses (422,125) (417,462) (414,494) (391,534) (381,601) (371,337) Securities 9,066,651 8,718,794 8,381,268 8,293,241 7,882,891 7,371,847 Total assets 54,801,451 54,254,804 52,589,449 50,701,888 49,366,969 48,894,196 Noninterest-bearing deposits 8,640,759 8,507,351 8,170,448 8,229,394 7,932,882 7,958,739 Total deposits 44,999,244 44,479,463 42,842,992 40,954,888 39,770,380 39,402,025 Securities sold under agreements to repurchase 258,454 263,993 230,244 209,956 220,885 201,418 FHLB advances 1,775,470 1,886,011 1,874,134 2,146,395 2,110,885 2,116,417 Subordinated debt and other borrowings 426,263 426,042 425,821 425,600 425,380 425,159 Total shareholders' equity 6,637,237 6,543,142 6,431,881 6,344,258 6,174,668 6,103,851 Balance sheet data, quarterly averages: Total loans$ 36,967,754 36,041,530 34,980,900 34,081,759 33,516,804 33,041,954 Securities 8,986,542 8,679,934 8,268,583 8,176,250 7,322,588 7,307,201 Federal funds sold and other 2,854,113 2,958,593 3,153,751 2,601,267 3,268,307 3,274,062 Total earning assets 48,808,409 47,680,057 46,403,234 44,859,276 44,107,699 43,623,217 Total assets 53,824,500 52,525,831 51,166,643 49,535,543 48,754,091 48,311,260 Noninterest-bearing deposits 8,486,681 8,206,751 8,380,760 8,077,655 8,000,159 7,962,217 Total deposits 44,233,628 43,018,951 41,682,341 40,101,199 39,453,828 38,995,709 Securities sold under agreements to repurchase 255,662 230,745 223,162 230,340 213,252 210,888 FHLB advances 1,838,449 1,877,596 2,006,736 2,128,793 2,106,786 2,214,489 Subordinated debt and other borrowings 427,805 427,624 427,503 427,380 427,256 428,281 Total shareholders' equity 6,601,662 6,515,904 6,405,867 6,265,710 6,138,722 6,082,616 Statement of operations data, for the three months ended: Interest income$ 694,770 668,160 684,360 694,865 668,390 650,483 Interest expense 315,237 303,732 320,570 343,361 336,128 332,449 Net interest income 379,533 364,428 363,790 351,504 332,262 318,034 Provision for credit losses 24,245 16,960 29,652 26,281 30,159 34,497 Net interest income after provision for credit losses 355,288 347,468 334,138 325,223 302,103 283,537 Noninterest income 125,457 98,426 111,545 115,242 34,288 110,103 Noninterest expense 286,446 275,487 261,897 259,319 271,389 242,365 Income before income taxes 194,299 170,407 183,786 181,146 65,002 151,275 Income tax expense 35,759 29,999 32,527 34,455 11,840 27,331 Net income 158,540 140,408 151,259 146,691 53,162 123,944 Preferred stock dividends (3,798) (3,798) (3,798) (3,798) (3,798) (3,798) Net income available to common shareholders$ 154,742 136,610 147,461 142,893 49,364 120,146 Profitability and other ratios: Return on avg. assets (1) 1.15 % 1.05 % 1.15 % 1.15 % 0.41 % 1.00 % Return on avg. equity (1) 9.40 % 8.50 % 9.16 % 9.07 % 3.23 % 7.94 % Return on avg. common equity (1) 9.72 % 8.80 % 9.48 % 9.40 % 3.35 % 8.24 % Return on avg. tangible common equity (1) 13.75 % 12.51 % 13.58 % 13.61 % 4.90 % 12.11 % Common stock dividend payout ratio (14) 12.73 % 15.53 % 14.72 % 16.73 % 17.29 % 12.59 % Net interest margin (2) 3.23 % 3.21 % 3.22 % 3.22 % 3.14 % 3.04 % Noninterest income to total revenue (3) 24.84 % 21.27 % 23.47 % 24.69 % 9.35 % 25.72 % Noninterest income to avg. assets (1) 0.93 % 0.76 % 0.87 % 0.93 % 0.28 % 0.92 % Noninterest exp. to avg. assets (1) 2.13 % 2.13 % 2.04 % 2.08 % 2.24 % 2.02 % Efficiency ratio (4) 56.72 % 59.52 % 55.10 % 55.56 % 74.04 % 56.61 % Avg. loans to avg. deposits 83.57 % 83.78 % 83.92 % 84.99 % 84.95 % 84.73 % Securities to total assets 16.54 % 16.07 % 15.94 % 16.36 % 15.97 % 15.08 % This information is preliminary and based on company data available at the time of the presentation. 12 PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES ANALYSIS OF INTEREST INCOME AND EXPENSE, RATES AND YIELDS-UNAUDITED (dollars in thousands) Three months endedThree months ended June 30, 2025June 30, 2024 Average BalancesInterest Rates/ Yields Average BalancesInterest Rates/ Yields Interest-earning assets Loans (1) (2) $ 36,967,754 $ 568,857 6.26 %$ 33,516,804 $ 551,659 6.71 % Securities Taxable 5,625,309 66,989 4.78 % 4,085,859 51,578 5.08 % Tax-exempt (2) 3,361,233 27,104 3.87 % 3,236,729 24,372 3.61 % Interest-bearing due from banks 2,523,742 26,449 4.20 % 2,541,394 33,607 5.32 % Resell agreements 77,378 2,116 10.97 % 476,435 3,641 3.07 % Federal funds sold — — — % — — — % Other 252,993 3,255 5.16 % 250,478 3,533 5.67 % Total interest-earning assets 48,808,409 $ 694,770 5.82 % 44,107,699 $ 668,390 6.20 % Nonearning assets Intangible assets 1,869,405 1,872,282 Other nonearning assets 3,146,686 2,774,110 Total assets$ 53,824,500 $ 48,754,091 Interest-bearing liabilities Interest-bearing deposits: Interest checking 14,220,572 114,693 3.23 % 12,118,160 118,785 3.94 % Savings and money market 16,816,295 124,409 2.97 % 14,659,713 134,399 3.69 % Time 4,710,080 45,512 3.88 % 4,675,796 51,265 4.41 % Total interest-bearing deposits 35,746,947 284,614 3.19 % 31,453,669 304,449 3.89 % Securities sold under agreements to repurchase 255,662 1,222 1.92 % 213,252 1,316 2.48 % Federal Home Loan Bank advances 1,838,449 21,325 4.65 % 2,106,786 24,395 4.66 % Subordinated debt and other borrowings 427,805 8,076 7.57 % 427,256 5,968 5.62 % Total interest-bearing liabilities 38,268,863 315,237 3.30 % 34,200,963 336,128 3.95 % Noninterest-bearing deposits 8,486,681 — — 8,000,159 — — Total deposits and interest-bearing liabilities 46,755,544 $ 315,237 2.70 % 42,201,122 $ 336,128 3.20 % Other liabilities 467,294 414,247 Shareholders' equity 6,601,662 6,138,722 Total liabilities and shareholders' equity$ 53,824,500 $ 48,754,091 Net interest income $ 379,533 $ 332,262 Net interest spread (3) 2.52 % 2.25 % Net interest margin (4) 3.23 % 3.14 % (1) Average balances of nonperforming loans are included in the above amounts. (2) Yields computed on tax-exempt instruments on a tax equivalent basis and included $13.8 million of taxable equivalent income for the three months ended June 30, 2025 compared to $11.9 million for the three months ended June 30, 2024. The tax-exempt benefit has been reduced by the projected impact of tax-exempt income that will be disallowed pursuant to IRS Regulations as of and for the then current period presented. (3) Yields realized on interest-bearing assets less the rates paid on interest-bearing liabilities. The net interest spread calculation excludes the impact of demand deposits. Had the impact of demand deposits been included, the net interest spread for the three months ended June 30, 2025 would have been 3.12% compared to a net interest spread of 3.00% for the three months ended June 30, 2024. (4) Net interest margin is the result of annualized net interest income calculated on a tax equivalent basis divided by average interest- earning assets for the period. This information is preliminary and based on company data available at the time of the presentation. 13 PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES ANALYSIS OF INTEREST INCOME AND EXPENSE, RATES AND YIELDS-UNAUDITED (dollars in thousands) Six months endedSix months ended June 30, 2025June 30, 2024 Average BalancesInterest Rates/ Yields Average BalancesInterest Rates/ Yields Interest-earning assets Loans (1) (2) $ 36,507,201 $ 1,116,225 6.25 %$ 33,279,379 $ 1,092,858 6.69 % Securities Taxable 5,529,552 128,842 4.70 % 4,002,696 96,048 4.83 % Tax-exempt (2) 3,304,533 52,334 3.82 % 3,312,198 48,972 3.54 % Interest-bearing due from banks 2,584,209 55,342 4.32 % 2,509,097 66,359 5.32 % Resell agreements 67,945 3,751 11.13 % 510,111 7,499 2.96 % Federal funds sold — — — % — — — % Other 253,890 6,436 5.11 % 251,976 7,137 5.70 % Total interest-earning assets 48,247,330 $ 1,362,930 5.81 % 43,865,457 $ 1,318,873 6.15 % Nonearning assets Intangible assets 1,869,783 1,873,076 Other nonearning assets 3,061,641 2,794,141 Total assets$ 53,178,754 $ 48,532,674 Interest-bearing liabilities Interest-bearing deposits: Interest checking 14,178,740 226,444 3.22 % 11,842,966 231,513 3.93 % Savings and money market 16,581,963 243,251 2.96 % 14,634,200 269,151 3.70 % Time 4,521,453 88,312 3.94 % 4,766,414 104,753 4.42 % Total interest-bearing deposits 35,282,156 558,007 3.19 % 31,243,580 605,417 3.90 % Securities sold under agreements to repurchase 243,273 2,248 1.86 % 212,070 2,715 2.57 % Federal Home Loan Bank advances 1,857,914 42,596 4.62 % 2,160,637 48,515 4.52 % Subordinated debt and other borrowings 427,715 16,118 7.60 % 427,768 11,930 5.61 % Total interest-bearing liabilities 37,811,058 618,969 3.30 % 34,044,055 668,577 3.95 % Noninterest-bearing deposits 8,347,489 — — 7,981,188 — — Total deposits and interest-bearing liabilities 46,158,547 $ 618,969 2.70 % 42,025,243 $ 668,577 3.20 % Other liabilities 461,187 396,762 Shareholders' equity 6,559,020 6,110,669 Total liabilities and shareholders' equity$ 53,178,754 $ 48,532,674 Net interest income $ 743,961 $ 650,296 Net interest spread (3) 2.51 % 2.21 % Net interest margin (4) 3.22 % 3.09 % (1) Average balances of nonperforming loans are included in the above amounts. (2) Yields computed on tax-exempt instruments on a tax equivalent basis and included $26.3 million of taxable equivalent income for the six months ended June 30, 2025 compared to $23.7 million for the six months ended June 30, 2024. The tax-exempt benefit has been reduced by the projected impact of tax-exempt income that will be disallowed pursuant to IRS Regulations as of and for the then current period presented. (3) Yields realized on interest-bearing assets less the rates paid on interest-bearing liabilities. The net interest spread calculation excludes the impact of demand deposits. Had the impact of demand deposits been included, the net interest spread for the six months ended June 30, 2025 would have been 3.10% compared to a net interest spread of 2.96% for the six months ended June 30, 2024. (4) Net interest margin is the result of annualized net interest income calculated on a tax equivalent basis divided by average interest- earning assets for the period. This information is preliminary and based on company data available at the time of the presentation. 14 PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES SELECTED QUARTERLY FINANCIAL DATA – UNAUDITED (dollars in thousands) JuneMarchDecemberSeptemberJuneMarch 202520252024202420242024 Asset quality information and ratios: Nonperforming assets: Nonaccrual loans$ 157,170 171,570 147,825 119,293 97,649 108,325 ORE and other nonperforming assets (NPAs) 4,835 3,656 1,280 823 2,760 2,766 Total nonperforming assets$ 162,005 175,226 149,105 120,116 100,409 111,091 Past due loans over 90 days and still accruing interest$ 4,652 4,337 3,515 3,611 4,057 5,273 Accruing purchase credit deteriorated loans$ 10,344 12,215 13,877 5,715 6,021 6,222 Net loan charge-offs$ 18,737 13,992 20,807 18,348 22,895 16,215 Allowance for credit losses to nonaccrual loans 268.6 % 243.3 % 280.4 % 328.2 % 390.8 % 342.8 % As a percentage of total loans: Past due accruing loans over 30 days 0.14 % 0.14 % 0.15 % 0.16 % 0.16 % 0.17 % Potential problem loans 0.12 % 0.15 % 0.13 % 0.14 % 0.18 % 0.28 % Allowance for credit losses 1.14 % 1.16 % 1.17 % 1.14 % 1.13 % 1.12 % Nonperforming assets to total loans, ORE and other NPAs 0.44 % 0.48 % 0.42 % 0.35 % 0.30 % 0.33 % Classified asset ratio (Pinnacle Bank) (6) 3.9 % 4.4 % 3.8 % 3.9 % 4.0 % 4.9 % Annualized net loan charge-offs to avg. loans (5) 0.20 % 0.16 % 0.24 % 0.21 % 0.27 % 0.20 % Interest rates and yields: Loans 6.26 % 6.24 % 6.42 % 6.75 % 6.71 % 6.67 % Securities 4.44 % 4.30 % 4.27 % 4.58 % 4.43 % 4.06 % Total earning assets 5.82 % 5.79 % 5.97 % 6.27 % 6.20 % 6.11 % Total deposits, including non-interest bearing 2.58 % 2.58 % 2.74 % 3.08 % 3.10 % 3.10 % Securities sold under agreements to repurchase 1.92 % 1.80 % 2.11 % 2.58 % 2.48 % 2.67 % FHLB advances 4.65 % 4.59 % 4.59 % 4.66 % 4.66 % 4.38 % Subordinated debt and other borrowings 7.57 % 7.63 % 8.11 % 5.97 % 5.62 % 5.60 % Total deposits and interest-bearing liabilities 2.70 % 2.70 % 2.88 % 3.19 % 3.20 % 3.20 % Capital and other ratios (6) : Pinnacle Financial ratios: Shareholders' equity to total assets 12.1 % 12.1 % 12.2 % 12.5 % 12.5 % 12.5 % Common equity Tier one 10.7 % 10.7 % 10.8 % 10.8 % 10.7 % 10.4 % Tier one risk-based 11.2 % 11.2 % 11.3 % 11.4 % 11.2 % 10.9 % Total risk-based 13.0 % 13.0 % 13.1 % 13.2 % 13.2 % 12.9 % Leverage 9.5 % 9.5 % 9.6 % 9.6 % 9.5 % 9.5 % Tangible common equity to tangible assets 8.6 % 8.5 % 8.6 % 8.7 % 8.6 % 8.5 % Pinnacle Bank ratios: Common equity Tier one 11.5 % 11.5 % 11.6 % 11.7 % 11.5 % 11.3 % Tier one risk-based 11.5 % 11.5 % 11.6 % 11.7 % 11.5 % 11.3 % Total risk-based 12.4 % 12.4 % 12.5 % 12.6 % 12.5 % 12.2 % Leverage 9.7 % 9.7 % 9.8 % 9.8 % 9.7 % 9.7 % Construction and land development loans as a percentage of total capital (17) 61.8 % 65.6 % 70.5 % 68.2 % 72.9 % 77.5 % Non-owner occupied commercial real estate and multi-family as a percentage of total capital (17) 228.6 % 236.4 % 242.2 % 243.3 % 254.0 % 258.0 % This information is preliminary and based on company data available at the time of the presentation. 15 PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES SELECTED QUARTERLY FINANCIAL DATA – UNAUDITED (dollars in thousands, except per share data) JuneMarchDecemberSeptemberJuneMarch 202520252024202420242024 Per share data: Earnings per common share – basic$ 2.01 1.78 1.93 1.87 0.65 1.58 Earnings per common share - basic, excluding non-GAAP adjustments$ 2.01 1.90 1.92 1.87 1.63 1.54 Earnings per common share – diluted$ 2.00 1.77 1.91 1.86 0.64 1.57 Earnings per common share - diluted, excluding non-GAAP adjustments$ 2.00 1.90 1.90 1.86 1.63 1.53 Common dividends per share$ 0.24 0.24 0.22 0.22 0.22 0.22 Book value per common share at quarter end (7) $ 82.79 81.57 80.46 79.33 77.15 76.23 Tangible book value per common share at quarter end (7) $ 58.70 57.47 56.24 55.12 52.92 51.98 Revenue per diluted common share$ 6.53 6.01 6.14 6.08 4.78 5.60 Revenue per diluted common share, excluding non-GAAP adjustments$ 6.53 6.18 6.14 6.08 5.72 5.45 Investor information: Closing sales price of common stock on last trading day of quarter$ 110.41 106.04 114.39 97.97 80.04 85.88 High closing sales price of common stock during quarter$ 111.51 126.15 129.87 100.56 84.70 91.82 Low closing sales price of common stock during quarter$ 87.19 99.42 92.95 76.97 74.62 79.26 Closing sales price of depositary shares on last trading day of quarter$ 23.91 24.10 24.23 24.39 23.25 23.62 High closing sales price of depositary shares during quarter$ 24.56 25.25 25.02 24.50 23.85 24.44 Low closing sales price of depositary shares during quarter$ 23.76 24.10 24.23 23.25 22.93 22.71 Other information: Residential mortgage loan sales: Gross loans sold$ 192,859 145,645 185,707 209,144 217,080 148,576 Gross fees (8) $ 4,068 3,761 4,360 4,974 5,368 3,540 Gross fees as a percentage of loans originated 2.11 % 2.58 % 2.35 % 2.38 % 2.47 % 2.38 % Net gain on residential mortgage loans sold$ 1,965 2,507 2,344 2,643 3,270 2,879 Investment gains (losses) on sales of securities, net (13) $ — (12,512) 249 — (72,103) — Brokerage account assets, at quarter end (9) $ 14,665,349 13,324,592 13,086,359 12,791,337 11,917,578 10,756,108 Trust account managed assets, at quarter end$ 7,664,867 7,293,630 7,061,868 6,830,323 6,443,916 6,297,887 Core deposits (10) $ 39,761,037 40,012,999 38,046,904 35,764,640 34,957,827 34,638,610 Core deposits to total funding (10) 83.8 % 85.0 % 83.9 % 81.8 % 82.2 % 82.2 % Risk-weighted assets$ 44,413,507 43,210,918 41,976,450 40,530,585 39,983,191 40,531,311 Number of offices 137 136 137 136 135 128 Total core deposits per office$ 290,227 294,213 277,715 262,975 258,947 270,614 Total assets per full-time equivalent employee$ 15,109 15,092 14,750 14,418 14,231 14,438 Annualized revenues per full-time equivalent employee$ 558.5 522.2 530.4 528.0 425.0 508.5 Annualized expenses per full-time equivalent employee$ 316.8 310.8 292.2 293.4 314.6 287.8 Number of employees (full-time equivalent) 3,627.0 3,595.0 3,565.5 3,516.5 3,469.0 3,386.5 Associate retention rate (11) 93.4 % 94.3 % 94.5 % 94.6 % 94.4 % 94.2 % This information is preliminary and based on company data available at the time of the presentation. 16 PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES RECONCILIATION OF NON-GAAP SELECTED QUARTERLY FINANCIAL DATA – UNAUDITED Three months endedSix months ended (dollars in thousands, except per share data) JuneMarchJuneJuneJune 20252025202420252024 Net interest income $ 379,533 364,428 332,262 743,961 650,296 Noninterest income 125,457 98,426 34,288 223,883 144,391 Total revenues 504,990 462,854 366,550 967,844 794,687 Less: Investment losses on sales of securities, net — 12,512 72,103 12,512 72,103 Recognition of mortgage servicing asset — — — — (11,812) Total revenues excluding the impact of adjustments noted above $ 504,990 475,366 438,653 980,356 854,978 Noninterest expense $ 286,446 275,487 271,389 561,933 513,754 Less: ORE expense 137 58 22 195 106 FDIC special assessment — — — — 7,250 Fees related to terminating agreement to resell securities previously purchased and professional fees associated with capital optimization initiatives — — 28,400 — 28,400 Noninterest expense excluding the impact of adjustments noted above $ 286,309 275,429 242,967 561,738 477,998 Pre-tax income $ 194,299 170,407 65,002 364,706 216,277 Provision for credit losses 24,245 16,960 30,159 41,205 64,656 Pre-tax pre-provision net revenue 218,544 187,367 95,161 405,911 280,933 Less: Adjustments noted above 137 12,570 100,525 12,707 96,047 Adjusted pre-tax pre-provision net revenue (12) $ 218,681 199,937 195,686 418,618 376,980 Noninterest income $ 125,457 98,426 34,288 223,883 144,391 Less: Adjustments noted above — 12,512 72,103 12,512 60,291 Noninterest income excluding the impact of adjustments noted above $ 125,457 110,938 106,391 236,395 204,682 Efficiency ratio (4) 56.72 % 59.52 % 74.04 % 58.06 % 64.65 % Less: Adjustments noted above (0.03) % (1.58) % (18.65) % (0.76) % (8.74) % Efficiency ratio excluding adjustments noted above (4) 56.70 % 57.94 % 55.39 % 57.30 % 55.91 % Total average assets $ 53,824,500 52,525,831 48,754,091 53,178,754 48,532,674 Noninterest income to average assets (1) 0.93 % 0.76 % 0.28 % 0.85 % 0.60 % Less: Adjustments noted above — % 0.10 % 0.60 % 0.05 % 0.25 % Noninterest income (excluding adjustments noted above) to average assets (1) 0.93 % 0.86 % 0.88 % 0.90 % 0.85 % Noninterest expense to average assets (1) 2.13 % 2.13 % 2.24 % 2.13 % 2.13 % Less: Adjustments as noted above — % — % (0.24) % — % (0.15) % Noninterest expense (excluding adjustments noted above) to average assets (1) 2.13 % 2.13 % 2.00 % 2.13 % 1.98 % This information is preliminary and based on company data available at the time of the presentation. Numbers may not foot due to rounding. 17 PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES RECONCILIATION OF NON-GAAP SELECTED QUARTERLY FINANCIAL DATA – UNAUDITED Three months ended (dollars in thousands, except per share data) JuneMarchDecemberSeptemberJuneMarch 202520252024202420242024 Net income available to common shareholders $ 154,742 136,610 147,461 142,893 49,364 120,146 Investment (gains) losses on sales of securities, net — 12,512 (249) — 72,103 — Loss on BOLI restructuring — — — — — — ORE expense 137 58 58 56 22 84 FDIC special assessment — — — — — 7,250 Recognition of mortgage servicing asset — — — — — (11,812) Fees related to terminating agreement to resell securities previously purchased and professional fees associated with capital optimization initiatives — — — — 28,400 — Tax effect on above noted adjustments (16) (34) (3,143) 48 (14) (25,131) 1,120 Net income available to common shareholders excluding adjustments noted above $ 154,844 146,037 147,318 142,935 124,758 116,788 Basic earnings per common share $ 2.01 1.78 1.93 1.87 0.65 1.58 Less: Investment (gains) losses on sales of securities, net — 0.16 (0.01) — 0.94 — ORE expense — — — — — — FDIC special assessment — — — — — 0.10 Recognition of mortgage servicing asset — — — — — (0.15) Fees related to terminating agreement to resell securities previously purchased and professional fees associated with capital optimization initiatives — — — — 0.37 — Tax effect on above noted adjustments (16) — (0.04) — — (0.33) 0.01 Basic earnings per common share excluding adjustments noted above $ 2.01 1.90 1.92 1.87 1.63 1.54 Diluted earnings per common share $ 2.00 1.77 1.91 1.86 0.64 1.57 Less: Investment (gains) losses on sales of securities, net — 0.16 (0.01) — 0.94 — ORE expense — — — — — — FDIC special assessment — — — — — 0.10 Recognition of mortgage servicing asset — — — — — (0.15) Fees related to terminating agreement to resell securities previously purchased and professional fees associated with capital optimization initiatives — — — — 0.37 — Tax effect on above noted adjustments (16) — (0.04) — (0.32) 0.01 Diluted earnings per common share excluding the adjustments noted above $ 2.00 1.90 1.90 1.86 1.63 1.53 Revenue per diluted common share $ 6.53 6.01 6.14 6.08 4.78 5.60 Adjustments due to revenue-impacting items as noted above — 0.16 — — 0.94 (0.15) Revenue per diluted common share excluding adjustments due to revenue- impacting items as noted above $ 6.53 6.18 6.14 6.08 5.72 5.45 Book value per common share at quarter end (7) $ 82.79 81.57 80.46 79.33 77.15 76.23 Adjustment due to goodwill, core deposit and other intangible assets (24.09) (24.10) (24.22) (24.21) (24.23) (24.25) Tangible book value per common share at quarter end (7) $ 58.70 57.47 56.24 55.12 52.92 51.98 Equity method investment (15) Fee income from BHG, net of amortization $ 26,027 20,405 12,070 16,379 18,688 16,035 Funding cost to support investment 5,205 5,515 4,869 5,762 5,704 5,974 Pre-tax impact of BHG 20,822 14,890 7,201 10,617 12,984 10,061 Income tax expense at statutory rates (16) 5,206 3,723 1,800 2,654 3,246 2,515 Earnings attributable to BHG $ 15,617 11,168 5,401 7,963 9,738 7,546 Basic earnings per common share attributable to BHG $ 0.20 0.15 0.07 0.10 0.13 0.10 Diluted earnings per common share attributable to BHG $ 0.20 0.15 0.07 0.10 0.13 0.10 This information is preliminary and based on company data available at the time of the presentation. Numbers may not foot due to rounding. 18 PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES RECONCILIATION OF NON-GAAP SELECTED QUARTERLY FINANCIAL DATA – UNAUDITED Six months ended (dollars in thousands, except per share data) June 30, 20252024 Net income available to common shareholders $ 291,352 169,510 Investment losses on sales of securities, net 12,512 72,103 ORE expense 195 106 FDIC special assessment — 7,250 Recognition of mortgage servicing asset — (11,812) Fees related to terminating agreement to resell securities previously purchased and professional fees associated with capital optimization initiatives — 28,400 Tax effect on adjustments noted above (16) (3,177) (24,012) Net income available to common shareholders excluding adjustments noted above $ 300,882 241,545 Basic earnings per common share $ 3.79 2.22 Less: Investment losses on sales of securities, net 0.16 0.94 ORE expense — — FDIC special assessment — 0.09 Recognition of mortgage servicing asset — (0.15) Fees related to terminating agreement to resell securities previously purchased and professional fees associated with capital optimization initiatives — 0.37 Tax effect on above noted adjustments (16) (0.04) (0.31) Basic earnings per common share excluding adjustments noted above $ 3.92 3.16 Diluted earnings per common share 3.77 2.21 Less: Investment losses on sales of securities, net 0.16 0.94 ORE expense — — FDIC special assessment — 0.09 Recognition of mortgage servicing asset — (0.15) Fees related to terminating agreement to resell securities previously purchased and professional fees associated with capital optimization initiatives — 0.37 Tax effect on above noted adjustments (16) (0.04) (0.31) Diluted earnings per common share excluding the adjustments noted above $ 3.90 3.16 Revenue per diluted common share $ 12.53 10.38 Adjustments due to revenue-impacting items as noted above 0.16 0.79 Revenue per diluted common share excluding adjustments due to revenue-impacting items noted above $ 12.70 11.17 Equity method investment (15) Fee income from BHG, net of amortization $ 46,432 34,723 Funding cost to support investment 10,720 11,584 Pre-tax impact of BHG 35,712 23,139 Income tax expense at statutory rates (16) 8,928 5,785 Earnings attributable to BHG $ 26,784 17,354 Basic earnings per common share attributable to BHG $ 0.35 0.23 Diluted earnings per common share attributable to BHG $ 0.35 0.23 This information is preliminary and based on company data available at the time of the presentation. 19 PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES RECONCILIATION OF NON-GAAP SELECTED QUARTERLY FINANCIAL DATA – UNAUDITED Three months endedSix months ended (dollars in thousands, except per share data) JuneMarchJuneJuneJune 20252025202420252024 Return on average assets (1) 1.15 % 1.05 % 0.41 % 1.10 % 0.70 % Adjustments as noted above — % 0.07 % 0.62 % 0.04 % 0.30 % Return on average assets excluding adjustments noted above (1) 1.15 % 1.13 % 1.03 % 1.14 % 1.00 % Tangible assets: Total assets $ 54,801,451 54,254,804 49,366,969 $ 54,801,451 49,366,969 Less: Goodwill (1,848,904) (1,849,260) (1,846,973) (1,848,904) (1,846,973) Core deposit and other intangible assets (19,506) (20,007) (24,313) (19,506) (24,313) Net tangible assets $ 52,933,041 52,385,537 47,495,683 $ 52,933,041 47,495,683 Tangible common equity: Total shareholders' equity $ 6,637,237 6,543,142 6,174,668 $ 6,637,237 6,174,668 Less: Preferred shareholders' equity (217,126) (217,126) (217,126) (217,126) (217,126) Total common shareholders' equity 6,420,111 6,326,016 5,957,542 6,420,111 5,957,542 Less: Goodwill (1,848,904) (1,849,260) (1,846,973) (1,848,904) (1,846,973) Core deposit and other intangible assets (19,506) (20,007) (24,313) (19,506) (24,313) Net tangible common equity $ 4,551,701 4,456,749 4,086,256 $ 4,551,701 4,086,256 Ratio of tangible common equity to tangible assets 8.60 % 8.51 % 8.60 % 8.60 % 8.60 % Average tangible assets: Average assets $ 53,824,500 52,525,831 48,754,091 $ 53,178,754 48,532,674 Less: Average goodwill (1,849,255) (1,849,260) (1,846,973) (1,849,258) (1,846,973) Average core deposit and other intangible assets (20,150) (20,905) (25,309) (20,525) (26,103) Net average tangible assets $ 51,955,095 50,655,666 46,881,809 $ 51,308,971 46,659,598 Return on average assets (1) 1.15 % 1.05 % 0.41 % 1.10 % 0.70 % Adjustment due to goodwill, core deposit and other intangible assets 0.04 % 0.04 % 0.01 % 0.04 % 0.03 % Return on average tangible assets (1) 1.19 % 1.09 % 0.42 % 1.15 % 0.73 % Adjustments as noted above — % 0.08 % 0.65 % 0.04 % 0.31 % Return on average tangible assets excluding adjustments noted above (1) 1.20 % 1.17 % 1.07 % 1.18 % 1.04 % Average tangible common equity: Average shareholders' equity $ 6,601,662 6,515,904 6,138,722 $ 6,559,020 6,110,669 Less: Average preferred equity (217,126) (217,126) (217,126) (217,126) (217,126) Average common equity 6,384,536 6,298,778 5,921,596 6,341,894 5,893,543 Less: Average goodwill (1,849,255) (1,849,260) (1,846,973) (1,849,258) (1,846,973) Average core deposit and other intangible assets (20,150) (20,905) (25,309) (20,525) (26,103) Net average tangible common equity $ 4,515,131 4,428,613 4,049,314 $ 4,472,111 4,020,467 Return on average equity (1) 9.40 % 8.50 % 3.23 % 8.96 % 5.58 % Adjustment due to average preferred shareholders' equity 0.32 % 0.29 % 0.12 % 0.31 % 0.20 % Return on average common equity (1) 9.72 % 8.80 % 3.35 % 9.26 % 5.78 % Adjustment due to goodwill, core deposit and other intangible assets 4.02 % 3.71 % 1.55 % 3.87 % 2.70 % Return on average tangible common equity (1) 13.75 % 12.51 % 4.90 % 13.14 % 8.48 % Adjustments as noted above 0.01 % 0.86 % 7.49 % 0.43 % 3.60 % Return on average tangible common equity excluding adjustments noted above (1) 13.76 % 13.37 % 12.39 % 13.57 % 12.08 % This information is preliminary and based on company data available at the time of the presentation. Numbers may not foot due to rounding. 20 PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES SELECTED QUARTERLY FINANCIAL DATA – UNAUDITED 1. Ratios are presented on an annualized basis. 2. Net interest margin is the result of net interest income on a tax equivalent basis divided by average interest earning assets. 3. Total revenue is equal to the sum of net interest income and noninterest income. 4. Efficiency ratios are calculated by dividing noninterest expense by the sum of net interest income and noninterest income. 5. Annualized net loan charge-offs to average loans ratios are computed by annualizing quarter-to-date net loan charge-offs and dividing the result by average loans for the quarter-to-date period. 6. Capital ratios are calculated using regulatory reporting regulations enacted for such period and are defined as follows: Equity to total assets – End of period total shareholders' equity as a percentage of end of period assets. Tangible common equity to tangible assets - End of period total shareholders' equity less end of period preferred stock, goodwill, core deposit and other intangibles as a percentage of end of period assets less end of period goodwill, core deposit and other intangibles. Leverage – Tier I capital (pursuant to risk-based capital guidelines) as a percentage of adjusted average assets. Tier I risk-based – Tier I capital (pursuant to risk-based capital guidelines) as a percentage of total risk-weighted assets. Total risk-based – Total capital (pursuant to risk-based capital guidelines) as a percentage of total risk-weighted assets. Classified asset - Classified assets as a percentage of Tier 1 capital plus allowance for credit losses. Tier I common equity to risk weighted assets - Tier 1 capital (pursuant to risk-based capital guidelines) less the amount of any preferred stock or subordinated indebtedness that is considered as a component of Tier 1 capital as a percentage of total risk-weighted assets. 7. Book value per common share computed by dividing total common shareholders' equity by common shares outstanding. Tangible book value per common share computed by dividing total common shareholders' equity, less goodwill, core deposit and other intangibles, by common shares outstanding. 8. Amounts are included in the statement of income in "Gains on mortgage loans sold, net", net of commissions paid on such amounts. 9. At fair value, based on information obtained from Pinnacle's third party broker/dealer for non-FDIC insured financial products and services. 10. Core deposits include all transaction deposit accounts, money market and savings accounts and all certificates of deposit issued in a denomination of less than $250,000. The ratio noted above represents total core deposits divided by total funding, which includes total deposits, FHLB advances, securities sold under agreements to repurchase, subordinated indebtedness and all other interest-bearing liabilities. 11. Associate retention rate is computed by dividing the number of associates employed at quarter end less the number of associates that have resigned in the last 12 months by the number of associates employed at quarter end. 12. Adjusted pre-tax, pre-provision net revenue excludes the impact of ORE expenses and income, investment gains and losses on sales of securities, the impact of the FDIC special assessment, the recognition of the mortgage servicing asset and fees related to terminating agreement to resell securities previously purchased and professional fees associated with capital optimization initiatives. 13. Represents investment gains (losses) on sales and impairments, net occurring as a result of gains or losses incurred as the result of a change in management's intention to sell a bond prior to the recovery of its amortized cost basis. 14. The dividend payout ratio is calculated as the sum of the annualized dividend rate for dividends paid on common shares divided by the trailing 12-months fully diluted earnings per common share as of the dividend declaration date. 15. Earnings from equity method investment includes the impact of the funding costs of the overall franchise calculated using the firm's subordinated and other borrowing rates. Income tax expense is calculated using statutory tax rates. 16. Tax effect calculated using the blended statutory rate of 25.00 percent for all periods. 17. Calculated using the same guidelines as are used in the Federal Financial Institutions Examination Council's Uniform Bank Performance Report. 21

Investor Call QUARTER 2025 OCTOBER 16, 2025 Time: 8:30 AM CT Webcast: www.pnfp.com (investor relations) M. TERRY TURNER, PRESIDENT AND CEO HAROLD R. CARPENTER, EVP AND CFO 1 Forward Looking Statements All statements, other than statements of historical fact, included in this presentation, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The words "expect," "aim," "anticipate," "intend," "may," "should," "plan," "looking for," "believe," "seek," "estimate" and similar expressions are intended to identify such forward-looking statements, but other statements not based on historical information may also be considered forward-looking statements. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could cause the actual results to differ materially from the statements, including, but not limited to:(i) deterioration in the financial condition of borrowers of Pinnacle Bank and its subsidiaries or BHG, including as a result of persistent elevated interest rates, the negative impact of inflationary pressures and challenging economic conditions on our and BHG's customers and their businesses, resulting in significant increases in loan losses and provisions for those losses and, in the case of BHG, substitutions; (ii) fluctuations or differences in interest rates on loans or deposits from those that Pinnacle Financial is modeling or anticipating, including as a result of Pinnacle Bank's inability to better match deposit rates with the changes in the short-term rate environment, or that affect the yield curve; (iii) the impact of U.S. and global economic conditions, trade policies and tensions, including changes in, or the imposition of, tariffs and/or trade barriers and the economic impacts, volatility and uncertainty resulting therefrom, and geopolitical instability; (iv) the sale of investment securities in a loss position before their value recovers, including as a result of asset liability management strategies or in response to liquidity needs; (v) adverse conditions in the national or local economies including in Pinnacle Financial's markets throughout the Southeast region of the United States,particularly in commercial and residential real estate markets; (vi) the inability of Pinnacle Financial, or entities in which it has significant investments, like BHG, to maintain the long-term historical growth rate of its, or such entities', loan portfolio; (vii) the ability to grow and retain low-cost core deposits and retain large, uninsured deposits, including during times when Pinnacle Bank is seeking to limit the rates it pays on deposits or uncertainty exists in the financial services sector; (viii) risks associated with a prolonged shutdown of the United States federal government, including adverse effects on the national or local economies and adverse effects resulting from a shutdown of the U.S. Small Business Administration's SBA loan program; (ix) a merger or acquisition, like Pinnacle Financial's proposed merger with Synovus Financial Corp. (“Synovus”); (x) changes in loan underwriting, credit review or loss reserve policies associated with economic conditions, examination conclusions, or regulatory developments; (xi) effectiveness of Pinnacle Financial's asset management activities in improving, resolving or liquidating lower-quality assets; (xii) the impact of competition with other financial institutions, including pricing pressures and the resulting impact on Pinnacle Financial’s results, including as a result of the negative impact to net interest margin from elevated deposit and other funding costs; (xiii) the results of regulatory examinations of Pinnacle Financial, Pinnacle Bank or BHG, or companies with whom they do business; (xiv) BHG's ability to profitably grow its business and successfully execute on its business plans; (xv) risks of expansion into new geographic or product markets; (xvi) the risk that the cost savings and synergies from Pinnacle Financial’s proposed merger with Synovus may not be fully realized or may take longer than anticipated to be realized; (xvii) disruption to Synovus’ business and to Pinnacle Financial’s business as a result of the announcement and pendency of the proposed merger; (xviii) the risk that the integration of Pinnacle Financial’s and Synovus’ respective businesses and operations will be materially delayed or will be more costly or difficult than expected, including as a result of unexpected factors or events; (xix) the failure to obtain the necessary approvals of the proposed merger by the shareholders of Synovus or Pinnacle Financial; (xx) the amount of the costs, fees, expenses and charges related to the proposed merger; (xxi) the ability by each of Synovus and Pinnacle Financial to obtain required governmental approvals of the proposed transaction on the timeline expected, or at all, and the risk that such approvals may result in the imposition of conditions that could adversely affect the combined company after the closing of the proposed transaction or adversely affect the expected benefits of the proposed transaction; (xxii) reputational risk and the reaction of Pinnacle Financial’s and Synovus’ customers, suppliers, employees or other business partners to the proposed merger; (xxiii) the failure of the closing conditions in the merger agreement related to the proposed merger to be satisfied, or any unexpected delay in closing the proposed merger or the occurrence of any event, change or other circumstances that could give rise to the termination of the merger agreement; (xxiv) the dilution caused by the issuance of shares of the common stock of the company resulting from the proposed merger of Pinnacle Financial and Synovus; (xxv) the possibility that the proposed merger may be more expensive to complete than anticipated, including as a result of unexpected factors or events; (xxvi) risks related to management and oversight of the expanded business and operations of the combined company following the closing of the proposed merger; (xxvii) the possibility the combined company resulting from the proposed merger is subject to additional regulatory requirements as a result of the proposed merger or expansion of the resulting company’s business operations following the proposed merger; (xxviii) the outcome of any legal or regulatory proceedings or governmental inquiries or investigations that may be currently pending or later instituted against Synovus, Pinnacle Financial or the combined company resulting from the proposed merger; (xxix) general competitive, economic, political and market conditions and other factors that may affect future results of Synovus and Pinnacle Financial including changes in asset quality and credit risk; the inability to sustain revenue and earnings growth; changes in interest rates and capital markets; inflation; customer borrowing, repayment, investment and deposit practices; the impact, extent and timing of technological changes; and capital management activities; (xxx) any matter that would cause Pinnacle Financial to conclude that there was impairment of any asset, including goodwill or other intangible assets; (xxxi) the ineffectiveness of Pinnacle Bank's hedging strategies, or the unexpected counterparty failure or hedge failure of the underlying hedges; (xxxii) reduced ability to attract additional financial advisors (or failure of such advisors to cause their clients to switch to Pinnacle Bank), to retain financial advisors (including as a result of the competitive environment for associates) or otherwise to attract customers from other financial institutions; (xxxiii) deterioration in the valuation of other real estate owned and increased expenses associated therewith; (xxxiv) inability to comply with regulatory capital requirements, including those resulting from changes to capital calculation methodologies, required capital maintenance levels or regulatory requests or directives, particularly if Pinnacle Bank's level of applicable commercial real estate loans were to exceed percentage levels of total capital in guidelines recommended by its regulators; (xxxv) approval of the declaration of any dividend by Pinnacle Financial's board of directors; (xxxvi) the vulnerability of Pinnacle Bank's network and online banking portals, and the systems of parties with whom Pinnacle Bank contracts, to unauthorized access, computer viruses, phishing schemes, spam or ransomware attacks, human error, natural disasters, power loss and other security breaches; (xxxvii) the possibility of increased compliance and operational costs as a result of increased regulatory oversight (including by the Consumer Financial Protection Bureau), including oversight of companies in which Pinnacle Financial or Pinnacle Bank have significant investments, like BHG, and the development of additional banking products for Pinnacle Bank's corporate and consumer clients; (xxxviii) Pinnacle Financial's ability to identify potential candidates for, consummate, and achieve synergies from, potential future acquisitions; (xxxix) difficulties and delays in integrating acquired businesses or fully realizing costs savings and other benefits from acquisitions; (xl) the risks associated with Pinnacle Bank being a minority investor in BHG, including the risk that the owners of a majority of the equity interests in BHG decide to sell the company or all or a portion of their ownership interests in BHG (triggering a similar sale by Pinnacle Bank); (xli) changes in or interpretations of state and federal legislation, regulations or policies applicable to banks and other financial service providers, like BHG, including regulatory or legislative developments; (xlii) fluctuations in the valuations of Pinnacle Financial's equity investments and the ultimate success of such investments; (xliii) the availability of and access to capital; (xliv) adverse results (including costs, fines, reputational harm, inability to obtain necessary approvals and/or other negative effects) from current or future litigation, regulatory examinations or other legal and/or regulatory actions involving Pinnacle Financial, Pinnacle Bank or BHG; and (xlv) general competitive, economic, political and market conditions. Additional factors which could affect the forward looking statements can be found in Pinnacle Financial's Annual Report on Form 10-K for the year ended December 31, 2024, and subsequently filed Quarterly Reports on Form 10-Q and Current Reports on Form 8-K filed with the SEC and available on the SEC's website at http://www.sec.gov. Pinnacle Financial disclaims any obligation to update or revise any forward-looking statements contained in this presentation, which speak only as of the date hereof, whether as a result of new information, future events or otherwise. Safe Harbor Statements 2 Safe Harbor Statements Non-GAAP Financial Matters This presentation contains certain non-GAAP financial measures, including, without limitation, total revenues, net income to common shareholders, earnings per diluted common share, revenue per diluted common share, PPNR, efficiency ratio, noninterest expense, noninterest income and the ratio of noninterest expense to average assets, excluding in certain instances the impact of expenses related to other real estate owned, gains or losses on sale of investment securities, gains associated with the sale-leaseback transaction completed in the second quarter of 2023, losses on the restructuring of certain bank owned life insurance (BOLI) contracts, charges related to the FDIC special assessment, income associated with the recognition of a mortgage servicing asset in the first quarter of 2024, fees related to terminating agreement to resell securities previously purchased and professional fees associated with capital optimization initiatives in the second quarter of 2024 and other matters for the accounting periods presented. This presentation may also contain certain other non-GAAP capital ratios and performance measures that exclude the impact of goodwill and core deposit intangibles associated with Pinnacle Financial's acquisitions of BNC, Avenue Bank, Magna Bank, CapitalMark Bank & Trust, Mid-America Bancshares, Inc., Cavalry Bancorp, Inc. and other acquisitions which collectively are less material to the non-GAAP measure as well as the impact of Pinnacle Financial's Series B Preferred Stock. The presentation of the non-GAAP financial information is not intended to be considered in isolation or as a substitute for any measure prepared in accordance with GAAP. Because non-GAAP financial measures presented in this presentation are not measurements determined in accordance with GAAP and are susceptible to varying calculations, these non-GAAP financial measures, as presented, may not be comparable to other similarly titled measures presented by other companies. Pinnacle Financial believes that these non-GAAP financial measures facilitate making period-to-period comparisons and are meaningful indications of its operating performance. In addition, because intangible assets such as goodwill and the core deposit intangible, and the other items excluded each vary extensively from company to company, Pinnacle Financial believes that the presentation of this information allows investors to more easily compare Pinnacle Financial's results to the results of other companies. Pinnacle Financial's management utilizes this non-GAAP financial information to compare Pinnacle Financial's operating performance for 2025 versus certain periods in 2024 and to internally prepared projections. 3 Important Information About the Merger and Where to Find It Steel Newco Inc. (“Newco”) filed a registration statement on Form S-4 (File No. 333-289866) with the SEC on August 26, 2025, and an amendment on September 29, 2025, to register the shares of Newco common stock that will be issued to Pinnacle shareholders and Synovus shareholders in connection with the proposed transaction. The registration statement includes a joint proxy statement of Pinnacle and Synovus that also constitutes a prospectus of Newco. The registration statement was declared effective on September 30, 2025. Newco filed a prospectus on September 30, 2025, and Pinnacle and Synovus each filed a definitive proxy statement on September 30, 2025. Pinnacle and Synovus each commenced mailing of the definitive joint proxy statement/prospectus to their respective shareholders on or about September 30, 2025. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE REGISTRATION STATEMENT AND DEFINITIVE JOINT PROXY STATEMENT/PROSPECTUS (AND ANY OTHER DOCUMENTS THAT HAVE BEEN OR MAY BE FILED WITH THE SEC IN CONNECTION WITH THE TRANSACTION OR INCORPORATED BY REFERENCE INTO THE DEFINITIVE JOINT PROXY STATEMENT/PROSPECTUS) BECAUSE SUCH DOCUMENTS WILL CONTAIN IMPORTANT INFORMATION REGARDING THE PROPOSED TRANSACTION AND RELATED MATTERS. Investors and security holders may obtain free copies of these documents and other documents filed with the SEC by Pinnacle, Synovus or Newco through the website maintained by the SEC at http://www.sec.gov or by contacting the investor relations department of Pinnacle or Synovus at: Pinnacle Financial Partners, Inc. Synovus Financial Corp. 21 Platform Way South 33 West 14 th Street Nashville, TN 37203 Columbus, GA 31901 Attention: Investor Relations Attention: Investor Relations Investor.Relations@pnfp.com InvestorRelations@Synovus.com (615) 743-8219 (701)641-6500 Before making any voting or investment decision, investors and security holders of Pinnacle and Synovus are urged to read carefully the entire registration statement and definitive joint proxy statement/prospectus, including any amendments thereto, because they contain important information about the proposed transaction. Free copies of these documents may be obtained as described above. Participants in Solicitation Pinnacle and Synovus and their respective directors and executive officers and other members of management and employees may be deemed to be participants in the solicitation of proxies from Pinnacle’s shareholders and Synovus’ shareholders in respect of the proposed transaction under the rules of the SEC. Information regarding Pinnacle’s directors and executive officers is available in Pinnacle’s proxy statement for its 2025 annual meeting of shareholders, filed with the SEC on March 3, 2025 (and available at https://www.sec.gov/ix?doc=/Archives/edgar/data/1115055/000111505525000063/pnfp-20250303.htm) (the “Pinnacle 2025 Proxy”), under the headings “Environmental, Social and Corporate Governance,” “Proposal 1 Election of Directors,” “Information About Our Executive Officers,” “Executive Compensation,” “Security Ownership of Certain Beneficial Owners and Management,” and “Certain Relationships and Related Transactions,” and in Pinnacle’s Annual Report on Form 10-K for the year ended December 31, 2024, filed with the SEC on February 25, 2025 (and available at https://www.sec.gov/ix?doc=/Archives/edgar/data/1115055/000111505525000042/pnfp-20241231.htm), and in other documents subsequently filed by Pinnacle with the SEC, which can be obtained free of charge through the website maintained by the SEC at http://www.sec.gov. Any changes in the holdings of Pinnacle’s securities by Pinnacle’s directors or executive officers from the amounts described in the Pinnacle 2025 Proxy have been or will be reflected on Initial Statements of Beneficial Ownership of Securities on Form 3 or on Statements of Change in Ownership on Form 4 filed with the SEC subsequent to the filing date of the Pinnacle 2025 Proxy and are available at the SEC’s website at www.sec.gov. Additional information regarding the interests of such participants is included in the definitive joint proxy statement/prospectus and will be included in other relevant materials to be filed with the SEC. Information regarding Synovus’ directors and executive officers is available in Synovus’ proxy statement for its 2025 annual meeting of shareholders, filed with the SEC on March 12, 2025 (and available at https://www.sec.gov/ix?doc=/Archives/edgar/data/0000018349/000001834925000057/syn-20250312.htm) (the “Synovus 2025 Proxy”), under the headings “Corporate Governance and Board Matters,” “Director Compensation,” “Proposal 1 Election of Directors,” “Executive Officers,” “Stock Ownership of Directors and Named Executive Officers,” “Executive Compensation,” “Compensation and Human Capital Committee Report,” “Summary Compensation Table,” and “Certain Relationships and Related Transactions,” and in Synovus’ Annual Report on Form 10-K for the year ended December 31, 2024, filed with the SEC on February 21, 2025 (and available at https://www.sec.gov/ix?doc=/Archives/edgar/data/0000018349/000001834925000049/syn- 20241231.htm), and in other documents subsequently filed by Synovus with the SEC, which can be obtained free of charge through the website maintained by the SEC at http://www.sec.gov. Any changes in the holdings of Synovus’ securities by Synovus’ directors or executive officers from the amounts described in the Synovus 2025 Proxy have been or will be reflected on Initial Statements of Beneficial Ownership of Securities on Form 3 or on Statements of Change in Ownership on Form 4 filed with the SEC subsequent to the filing date of the Synovus 2025 Proxy and are available at the SEC’s website at www.sec.gov. No Offer or Solicitation This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended. Safe Harbor Statements 4 Classified Asset Ratio Pre-COVID PNFP’s Median Quarterly Performance was 13.5% NCOs NPA/ Loans & ORE Pre-COVID PNFP’s Median Quarterly Performance was 0.12% Shareholder Value Dashboard 3Q25 summary results of key GAAP measures PNFP’s Median Quarterly Performance of 0.27% PNFP’s Median Quarterly Performance of 0.17% PNFP’s Median Quarterly Performance of 4.0% Pre-COVID PNFP’s Median Quarterly Performance was 0.54% Total Revenues FD EPS Net Income Available to Common Shareholders Total Loans (millions) Total Deposits (in millions) Book Value per Common Share 5 *: excluding gains and losses on sales of investment securities, recognition of a mortgage servicing asset, loss on BOLI restructuring, gain on the sale of fixed assets as a result of a sale-leaseback transaction, ORE expense (income), FDIC special assessment, fees related to terminating agreement to resell securities previously purchased, professional fees associated with capital optimization initiatives and merger-related expenses. PPNR represents pre-tax, pre-provision net revenues. **: excluding goodwill, core deposit and other intangible assets Note: For a reconciliation of these Non-GAAP financial measures to the most directly comparable GAAP measures, see slides 59-60. Classified Asset Ratio Pre-COVID PNFP’s Median Quarterly Performance was 13.5% Total Core Deposits (millions) Pre-COVID PNFP’s Median Quarterly Performance was 0.54% NCOs NPA/ Loans & ORE Tangible Book Value per Share** Total Loans (millions) Adjusted Pre-Tax Pre-Provision Net Income* FD EPS* Total Revenues* Shareholder Value Dashboard 3Q25 summary results of key non-GAAP measures PNFP’s Median Quarterly Performance of 0.27% PNFP’s Median Quarterly Performance of 0.17% PNFP’s Median Quarterly Performance of 4.0% CAGR 12.2% CAGR 10.9% CAGR 7.4% CAGR 9.7% CAGR 10.8% CAGR 11.0% Pre-COVID PNFP’s Median Quarterly Performance was 0.12% 6 The Flywheel Effect “In building a great company or social sector enterprise, there is no single defining action, no grand program, no one killer innovation, no solitary lucky break, no miracle moment. Rather, the process resembles relentlessly pushing a giant, heavy flywheel, turn upon turn, building momentum until a point of breakthrough, and beyond.” – Jim Collins PNFP’s Approach to M&A is Strategic and Disciplined The Flywheel Effect: Leads to Accelerated and Sustained Growth Pinnacle’s Flywheel Continues to Spin Rapidly 7 Hiring Great Bankers Revenue Adjusted EPS Deposits (NIB / Core) Loans 31.5% 54.0% 14.5% / 10.6% 8.9% 3Q25 Linked-Quarter Annualized Growth Rate Source: S&P Global Market Intelligence and FDIC as of June 30, 2025. Note: Market share based on MSA-level deposits capped at $5bn per branch. Historical figures include deposits from inactive branches prior to closure. Historical periods pro forma for completed M&A. FDIC Deposit Market Share Evolution Over Last 10 Years – Key Tennessee Metros NashvilleChattanoogaKnoxvilleMemphis Δ +7.3pp ΔΔΔ Regions Wells Fargo First Horizon Truist PNFP Other Ceding Share: (10.3pp) +3.0pp +6.7pp (15.1pp) +8.4pp +6.2pp (13.9pp) +7.8pp +11.7pp (16.7pp) +5.1pp 11.9% 14.9% 7.4% 6.7% 13.5% 8.3% 14.4% 11.0% 2.7% 1.8% 50.1% 57.4% 20152025 8.0% 16.5% 23.5% 18.0% 20.6% 13.0% 13.1% 11.3% 1.0% 0.9% 33.7% 40.4% 20152025 4.9% 12.7% 18.5% 17.1% 22.7% 13.2% 14.7% 11.7% 39.2% 45.4% 20152025 1.7% 6.8% 29.3% 23.3% 10.5% 4.3% 16.6% 12.2% 1.8% 1.6% 40.2% 51.9% 20152025 Pinnacle 2.0 is Uniquely Positioned for Continued Share Growth PNFP continues to capitalize on larger bank vulnerabilities in Tennessee 8 Pinnacle 2.0 is Uniquely Positioned for Continued Share Growth PNFP continues to capitalize on larger bank vulnerabilities across the Southeast •Source: S&P Global Market Intelligence and FDIC as of June 30, 2025. •Note: Market share based on MSA-level deposits capped at $5bn per branch. Historical figures include deposits from inactive branches prior to closure. Historical periods pro forma for completed M&A. •(1) Deposit market share figures are pro forma for Synovus merger. 2025 FDIC Deposit Market Share for Selected Competitors Ceding Significant Share Carolinas & VirginiaExpansion Markets 10.2% 13.2% 2.7% 1.8% 2.7% 9.4% 8.6% 6.5% 12.4% 0.9% 1.9% 3.6% 0.6% PNFP (1) L10Y Change in Market Share (pp) RF-+.0.4-(0.5)(0.8)(0.7)(5.6)(0.1)(1.2)(1.0)--(0.2) FHN(0.3)(0.0)(0.7)(0.6)+0.0+0.3+0.7(0.2)(0.0)+0.1--- WFC(10.1)(5.9)(2.3)(9.4)(6.4)(6.4)(4.1)(6.5)(2.7)(4.1)(1.2)-- TFC(1.4)(1.1)(8.9)(1.4)(3.6)(2.3)+3.6(5.3)(5.0)+4.4(2.6)(4.8)+0.6 Combined(11.8)(6.6)(11.9)(11.9)(10.8)(9.1)(5.4)(12.1)(8.9)(0.6)(3.8)(4.8)+0.4 9 Pinnacle 2.0 is Uniquely Positioned for Continued Share Growth Different than most mergers, the PNFP/SNV merger is about Pinnacle 2.0’s revenue growth flywheel Note: Cross-hairs are set at the mean for market penetration (Y-axis) and excellent client satisfaction (X-axis) Question: Using a 5-point scale, from "1" poor to "5" excellent, how do you rate your overall satisfaction with your provider? Which other banks or non-banks such as alternative lenders, payment providers, or fintechs does your company currently use? Source: Coalition Greenwich Voice of Client – 2025 Market Tracking Program (Pinnacle Financial – Footprint - $1-500MM – Q2 2025 R2Q- Banking). (1) Synovus is represented in chart data but de-identified. Bank A Bank C Bank B Bank G Bank D Bank E Bank F Bank H 0% 2% 4% 6% 8% 10% 12% 14% 20406080100 Lead Relationships as % of Total Market (%) Likely to Recommend (NPS) The combination of Synovus (1) and Pinnacle would yield an 8% Lead Relationship share and a leading Net Promoter Score in the current Pinnacle footprint Standalone Post-Merger 11 37 34 33 38 35 3Q244Q241Q252Q253Q25 Revenue Producer Hires by Quarter Pinnacle’s Hedgehog Strategy Has Continued Post Merger Announcement Offers and acceptances of revenue producers continue apace post merger announcement 91.4%Offer Acceptance Rate:91.4%91.6% •3Q25 Adds: Revenue producer hiring momentum maintained with offer acceptance rate unchanged •2026+ Cadence: Plan to add ~150 revenue producers in 2026, stepping up again in 2027; record hires last year shows sourcing capacity •SNV Runway: SNV has ~270 revenue producers vs. ~570 for PNFP. Room to add ~300 as the PNFP model rolls out •SNV Cadence: Pre-deal goal was +30% RMs (~35/yr); post- close, pace expected to accelerate under PNFP’s referral- driven hiring and 3x/week recruiting pipeline reviews Momentum Continues with Substantial Runway Market Share Gains Continued to Drive Loan Growth Linked-quarter annualized growth in average loans was 7.8% in 3Q25 3Q25 Highlights •EOP loans increased 8.9% linked-quarter annualized in 3Q25 compared to 10.7% in 2Q25 and 6.4% in 3Q24 •C&I growth remained strong at 17.9% linked-quarter annualized compared to 21.9% in 2Q25 •Other loans, including commercial real estate loans increased 2.9% linked-quarter annualized •3Q25 loan origination rates remained well above current portfolio yields *Excludes leases, credit cards and loans HFS; loan yields exclude tax equivalent income adjustments; loan yields consider contractual floors for individual loans but exclude the impact of other loan interest rate derivative products. 5.12% 4.96% 4.88% 4.84% 4.76% 4.73% 4.71% 4.40% 4.50% 4.60% 4.70% 4.80% 4.90% 5.00% 5.10% 5.20% $0 $200 $400 $600 $800 $1,000 $1,200 4Q251Q262Q263Q264Q261Q272Q27 Fixed Rate Loan Maturities / Cash flow FX Loan CFLWMat Rate $22,493 $22,525 $22,848 $23,180 $22,986 $23,226 $23,849 $25,397 $27,021 $28,402 $29,634 $30,882 $31,530 $32,372 $33,042 $33,517 $34,082 $34,981 $36,042 $36,968 $37,693 6.29% 3.00% 3.50% 4.00% 4.50% 5.00% 5.50% 6.00% 6.50% 7.00% $15,000 $20,000 $25,000 $30,000 $35,000 $40,000 Loan Yields Average Loans (millions) Average Loan Growth and Yields 12 3Q25 Highlights •Total EOP deposits, excluding brokered, increased 6.4% linked- quarter annualized •EOP noninterest-bearing deposits increased 14.4% linked- quarter annualized to 19.6% of total deposits •Declining rate deposit betas continue to match levels seen during rising rates while variable-rate loan beta improved due to rate cut/repricing timing; negative fixed-rate loan beta remains a positive NIM tailwind Deposit Growth Remains a Key Strategic Focus for Our Firm Linked-quarter annualized growth in average deposits was 11.3% in 3Q25 Sep. 30, 2024 EOP Rates Sep. 30, 2024 % of Totals Jun. 30, 2025 EOP Rates Jun. 30, 2025 % of Totals Sep. 30, 2025 EOP Rates Sep. 30, 2025 % of Totals Noninterest bearing---20.1%---19.2%---19.6% Interest-bearing: Rate sheet 1.22%15.1%0.92%13.5%0.77%12.8% Negotiated 3.07%5.0%2.50%4.0%2.80%3.4% Indexed 4.15%47.8%3.67%52.3%3.45%54.0% CDs 4.41%12.0%3.81%11.0%3.70%10.2% Total IBD 3.57%79.9%3.17%80.8%3.03%80.4% Total Deposits 2.85%100.0%2.56%100.0%2.43%100.0% Cumulative Betas (EOP rate comparisons) “Up Rate Cycle” Dec. 31, 2021 through Sept. 18, 2024 “Down Rate Cycle” Sept. 18, 2024 through Sept. 30, 2025 Fed funds effective rate, at EOP0.08% to 5.33%5.33% to 4.09% Variable Rate Loans 84.6%67.6% Fixed Rate Loans 15.0%-20.9% Total Loans 59.1%36.8% Int Checking, Savings, Money Market 68.5%70.9% Time Deposits 74.8%58.2% Total Interest-Bearing Deposits 69.7%69.0% Total Deposits 56.3%54.8% $20,680 $24,807 $26,352 $27,193 $27,621 $28,014 $28,740 $30,034 $31,539 $31,484 $33,108 $34,177 $35,292 $36,356 $38,078 $38,516 $38,996 $39,454 $40,101 $41,682 $43,019 $44,234 $45,479 2.57% 0.00% 0.25% 0.50% 0.75% 1.00% 1.25% 1.50% 1.75% 2.00% 2.25% 2.50% 2.75% 3.00% 3.25% $10,000 $15,000 $20,000 $25,000 $30,000 $35,000 $40,000 $45,000 $50,000 Deposit Costs Average Deposits (millions) Average Deposit Growth Avg. DepositsCost of Deposits 13 3Q25 Highlights •Net interest income growth accelerated to 18.3% linked-quarter annualized on solid earning asset growth and modest NIM expansion •Net interest margin increased 3bps to 3.26%, moving above the trailing four quarter range of 3.21%-3.23% •Current forecast assumes 25bp Fed funds rate decreases at the October and December 2025 Fed meetings Solid Volume and Favorable NIM Trends Driving Strong NII Growth Net interest income grew at a mid-teen linked-quarter annualized pace for the second consecutive quarter 3.26% 2.75% 3.00% 3.25% 3.50% 3.75% $175 $200 $225 $250 $275 $300 $325 $350 $375 $400 4Q201Q212Q213Q214Q211Q222Q223Q224Q221Q232Q233Q234Q231Q242Q243Q244Q241Q252Q253Q25 Net Interest Margin Net Interest Income ($ in mil.) Net Interest Income & NIM NIINIM 4.41% 2.00% 2.25% 2.50% 2.75% 3.00% 3.25% 3.50% 3.75% 4.00% 4.25% 4.50% 4.75% $3,500 $4,000 $4,500 $5,000 $5,500 $6,000 $6,500 $7,000 $7,500 $8,000 $8,500 $9,000 $9,500 4Q201Q212Q213Q214Q211Q222Q223Q224Q221Q232Q233Q234Q231Q242Q243Q244Q241Q252Q253Q25 Average Quarterly Yield Average Balances ($ in mil.) Quarterly Avg. Securities Avg. SecuritiesYield 4.49% 0.00% 0.50% 1.00% 1.50% 2.00% 2.50% 3.00% 3.50% 4.00% 4.50% 5.00% 5.50% $0 $500 $1,000 $1,500 $2,000 $2,500 $3,000 $3,500 $4,000 $4,500 $5,000 4Q201Q212Q213Q214Q211Q222Q223Q224Q221Q232Q233Q234Q231Q242Q243Q244Q241Q252Q253Q25 Average Quarterly Yield Average Balances ($ in mil.) Quarterly Avg. FFS, IB Cash & Repos Avg. FFS, IB Cash & ReposYield 14 3Q25 Highlights •Credit metrics continued to perform well in comparison to long-term historical averages •Classified Assets, Potential Problem, Past due loans which are historically strong indicators of future credit performance continue to perform well •ACL increased to 1.15% of total loans 0.16%0.16% 0.23% 0.21% 0.18% NCOs 0.24% 0.15% 0.14% 0.35% 0.41% NPA/ Loans & ORE 0.09% 0.13% 0.16% 0.16% 0.17% Past Dues as a % of Total Loans 0.60% 0.21% 0.42% 0.14% 0.20% Potential Problem Loans 5.6% 2.6% 4.6% 3.9% 4.2% Classified Asset Ratio Credit Performance Remains Strong in 3Q25 No significant change in credit metrics between 2Q25 and 3Q25 15 $0 $100 $200 $300 $400 20212022202320242025 YTD $0.0 $2.0 $4.0 $6.0 20212022202320242025 YTD •BHG provides loans in as little as 3 days from application to funding. •A truly diversified funding strategy creates ample liquidity to fund loan originations, through: •BHG’s proprietary online auction platform encompassing over 1,690 unique Banks historically. •Programmatic sponsorship in the ABS market and institutional whole loan sale relationships. Wall Street continues to demand BHG product with 11 securitizations accomplished since 2020. •BHG distinguishes itself by: •Targeting borrowers through direct mail and other sophisticated marketing techniques using a wide range of proprietary marketing tools. •Underwriting applications through proprietary risk models, combining both credit & behavioral data points. BHG Financial Overview Strong YTD earnings of $189M supported by significant growth in originations and solid credit performance Earnings Before Taxes ($mm) Origination Volume ($bn) Source: BHG Internal Data 16 3Q25 Results Provide for Continued Optimism in FY2025 Changes to current outlook trend to the positive, in our view Note: 2025 outlook is based on current facts and circumstances. Our outlook is subject to change based on numerous factors which may require us to change our outlook at any time. These factors may include, among the other risks described herein, changes in operating strategy, balance sheet positioning or macroeconomic factors such as significant changes in interest rates from those we are modeling. See slide 2 of these materials for more information. Current 2025 Outlook (as of October 15, 2025)2024 Results Y/Y EOP Loan Growth We are modifying our estimate that our EOP loan growth for 2025 will now be 9-10% growth over 2024 year-end balances. Y/Y EOP growth of 8.6% Y/Y EOP Deposit Growth We are modifying our estimate that EOP deposit growth for 2025 will be 8-10% growth over 2024 year-end balances. Y/Y EOP growth of 11.2% Net interest income We are increasing our estimate that our net interest income growth outlook will now be 13-14% year-over-year growth. Additionally, current estimate is that our 4Q25 net interest margin will increase modestly from our 3Q25 net interest margin result. Y/Y net interest income growth of 8.2% 2024 Net interest margin result was 3.16% Fee income We are increasing our estimate that fee growth for 2025 over 2024 should now approximate 20-22% growth for noninterest income excluding losses on the sale of investment securities and the recognition of an $11.8 million mortgage servicing gain in 2024. Y/Y growth of 15.2% (*) Expenses We are modifying our estimate for total expenses excluding the impact of ORE costs and merger-related expenses for 2025 to approximate a range of $1.150 billion to $1.155 billion. We are also increasing our anticipated target payout for the annual cash incentive plan from 115% at June 30, 2025 to 125% September 30, 2025. 2024 NIE was $999 million (#) Income tax expense rate The effective tax rate (ETR) for 2025 should approximate last year's ETR with a low-18% result. 2024 ETR was 18.3% Asset quality and provisioning We are maintaining our estimate for net charge-offs in 2025 as a percentage of average loans to approximate a range of 0.18% to 0.20%. We are modifying our estimate for our loan loss provision as a percentage of average loans to be a range of 0.26% to 0.27%. Furthermore, we estimate that ACL as a percentage of total loans will remain consistent with Q3 levels throughout the remainder of 2025, but this could change should macro factors warrant. Net loan charge-offs of 0.23% Provision to avg. loans of 0.36% ACL of 1.17% (*) Excludes losses on the sale of investment securities and, in the case of 2024, the recognition of a $11.8 million mortgage servicing gain, and, in the case of 2023, the $85.7 million gain on the sale of fixed assets because of the sale-leaseback transaction and $16.3 million in BOLI restructuring charges. (#) Excluding the impact of ORE costs, and in 2024 the $7.25 million FDIC special assessment and $28.4 million in fees related to terminating the agreement to resell securities previously purchased and professional fees associated with capital optimization initiatives 17 PNFP/SNV Merger is Progressing Well 18 •Financially and strategically compelling transaction •Key decisions were finalized pre-announcement 2027E EPS Accretion 21% Pro Forma CET1 at Close 10.1% Key Decisions Made Corporate / Org. Technology Expected Closing Q1 2026 Expected Operational Conversion Q1 2027 Deal Rationale Completed Work •Key leadership positions have now been finalized •Key systems have been evaluated, most decisions made •Proxy statements mailed •Regulatory applications filed •Pre-merger exam conducted by the Atlanta Fed •Special shareholder meeting -- November 6, 2025 •Complete organization chart and benefit plans -- November 10, 2025 •Expected closing following receipt of shareholder and regulatory approvals Major Remaining Milestones Transaction Highlights Supplemental Information Slide # •Merger Update 20 •Balance Sheet 28 •Income Statement 49 •BHG 53 •Non-GAAP Reconciliation 59 •Peer Group 61 19 Pro Forma Branch Footprint Synovus Pro forma footprint population projected to grow 2x faster than national average Source: July 24,2025,PNFP-SNV merger presentation; (1) 2025-2027E pro forma revenue growth CAGR of 10.5% (#1 among peers), 47%pro forma 2027E efficiency ratio (#1 among peers), 1.38% pro forma 2027E return on average assets (#2 among peers) and 18.0% pro forma 2027E return on average tangible common equity (#1 among peers) Fully Committed to Continuing the Highly Successful PNFP Operating and Recruiting Model Positioned to Remain Employer of Choice with Industry- Leading Client Service Versus Competitors Strong Pro Forma Capital Generation Minimal Geographic Overlap Supports Low-Risk Integration Builds on Significant, Multi-Year Investments to Prepare for LFI Standards Capitalizes on Positive Regulatory Environment for Larger Bank Mergers Creates Fastest-Growing, Most Profitable Regional Bank with 21% 2027E EPS Accretion and 2.6 Year TBV Dilution Earnback (1) Pinnacle Merger Update Financially and strategically compelling transaction 20 Cumulative Deposit Growth (1) (2014 –2024) Sources: SNL Financials, Peer groupdefined as CFG, FITB, HBAN, KEY, MTB, PNC, RF, TFC and USB; (1) Not adjusted for M&A Cumulative RevenueGrowth (1) (2014 –2024) Cumulative Growth in Adjusted EPS (2014 –2024) Peers Both franchises have delivered peer-leading top-line and bottom-line results through disciplined strategic execution and operational excellence Peers Peers Merger Update PNFP and SNV produced consistent top-quartile financial results 21 Below 8.5x8.5x –10.5xOver 12.5x10.5x –12.5x Imputed PNFP Share Price at Various 1-Year Forward P/E Multiples (1) ~13.0x (1) 2027E EPS range of $11.35 to $11.75 utilizes merger model from announcement day and assumes the realization of 75% of announced cost synergies, no revenue synergies, purchase accounting mark accretion and share repurchases to result in a CET1 ratio range of 10.0% to 10.5%, respectively; for illustrative purposes only; current PNFP stock price as of October 9, 2025; (2) Blended PNFP/SNV multiples of ~13.0x and ~10.0x, respectively, as of the unaffected date of July 21, 2025; highest valued regional banks represents a blended multiple of the two selected regional peer banks with 1-year forward P/E multiples between 10.5x to 12.5x as of October 9, 2025; standalone PNFP multiple of ~13.0x as of the unaffected date of July 21, 2025; (3) Selected 14 regional peer banks between $60bn and $250bn in total assets as of June 30, 2025; 1-year forward P/E multiples as of October 9, 2025; PNFP multiple of ~13.0x as of the unaffected date of July 21, 2025; source: S&P Capital IQ Pro Illustrative 1-Year Forward P/E Multiples (2) : Regional Peer Bank 1-Year Forward P/E Multiples (3) : ~11.5x Merger Update Merger offers significant price upside for the combined company 22 Brand Name Headquarters Leadership Team Operating Model Incentive Model Board of Directors Split Technology Stack Pinnacle Financial Partners and Pinnacle Bank Built on Synovus' highly-scalable FIS core platform Primarily based on company revenue and EPS growth 15 directors: 8 Pinnacle and 7 Synovus Each side has 6 independent directors Geographic operating model with local leadership Long-term clarity on CEO Finalized key leadership positions Holding Company: Atlanta, GA and Bank: Nashville, TN Merger Update Key decisions already made in contrast to other MOEs 23 Full Organization Communicated 3 Down from CEO Communicated 2 Down from CEO Communicated LegalFinance Risk Management Operations Human Resources, Marketing, & Corporate Communications Digital & Product Solutions Audit Consumer, Small Business, & Specialty Deposits Treasury and Payment Solutions 4 Down from CEO Communicated Credit ManagementChief Banking Officer Merger Update Key leadership decisions are finalized 24 Digital Support Services Core system selection confirmed Finalizing remaining system selections to align with our go-forward business model Finalizing remaining selections post vendor negotiation completion Digital solutions evaluated with integration strategy and deployment planning underway Customer Origination & Servicing 80% Core 100% 100% 88% Merger Update Initial systems assessment 25 Third Quarter 2025Fourth Quarter 2025 Established integration management office (IMO) and mobilized 20 portfolios and 75+ workstreams, including dedicated LFI readiness Held joint IMO in-person meetings on September 23 and October 8, focused on enhancing connectivity amongst colleagues Finalized pro forma organizational chart for executive management team and next levels Communicated employee retention packages Met jointly with over 100 investment management firms virtually and in person to discuss the transaction Filed S-4 and mailed joint proxy statement Continue IMO workstreams Hold special shareholder meeting on November 6 Finalize pro forma full organizational structure, employee benefits and non- core platform technology system decisions Remain comfortable with merger-related expense savings of $250 million, or 10% of combined non-interest expense Pro forma CET1 Ratio at merger close now estimated at ~10.1% (1) (1) Estimate based on 9/30/25 actual results and financial assumptions associated with the pending PNFP-SNV merger Merger Update 26 August 21, 2025 Executive Leadership Team Announced August 22, 2025 Merger Application Submitted to Bank Regulators August 19, 2025 IMOs (1) Established November 6, 2025 Special Shareholder Meetings First Quarter 2026 Expected Closing First Quarter 2027 Expected Operational Conversion (1) IMO -Integration Management Office September 30, 2025 S-4 Declared Effective / Commencement of Joint Proxy Statement Mailed Fourth Quarter 2025 Full Organizational Chart/Benefit Plan Decisions August 26, 2025 Initial S-4 Filed July 24, 2025 Merger Agreement Signed & Announced Merger Update Timeline (Illustrative) 27 Note: Strategic expansion volumes include certain loans that are recorded in the various geographies (as detailed on slide 30) but for illustration purposes above are included as Strategic Expansion loans due to the relationship managers being assigned to a specialty lending unit. Balance Sheet – Loan Portfolio Net Loan Growth – 3Q25 – Strategic Decisions: •Strategic Expansion - $923 million •Jacksonville, Atlanta, DC, Alabama, Kentucky, Franchise Finance, Equipment Finance •Legacy Recruiting Impact - $317 million •New RMs hired in past 2.5 years other than in our strategic market expansions •Legacy market – Reduction of $412 million •RMs in legacy markets such as Nashville, Charlotte, Raleigh, Charleston, Memphis, Chattanooga, etc. that have been with Pinnacle greater than three years 28 Balance Sheet – Loan Portfolio Segments ($ in millions)Amts. 3Q25 % 3Q25 Amts. 2Q25 % 2Q25 Amts. 3Q24 % 3Q24 Amts. 3Q23 % 3Q23 C&I $15,570.941.0%$14,905.340.2%$12,986.937.9%$11,307.635.4% CRE – Owner Occ. 4,904.512.9%4,744.812.8%4,264.712.4%3,944.612.3% Total C&I & O/O CRE $20,475.453.9%$19,650.153.0%$17,251.650.3%$15,252.247.7% CRE – Investment 5,803.915.3%5,891.715.8%5,919.217.3%5,957.518.7% CRE – Multifamily and other 2,284.46.0%2,393.76.5%2,213.26.5%1,490.24.7% C&D and Land 3,389.49.0%3,412.19.2%3,486.510.1%3,942.112.3% Total CRE & Construction $11,477.730.3%$11,697.531.5%$11,618.933.9%$11,389.835.7% Consumer RE 5,373.114.2%5,163.813.9%4,907.814.3%4,768.814.9% Consumer and other 606.41.6%593.81.6%530.01.5%532.51.7% Total Other $5,979.515.8%$5,757.615.5%$5,437.815.8%$5,301.316.6% Total Loans $37,932.6100.0%$37,105.2100.0%$34,308.3100.0%$31,943.3100.0% Note: Percentages noted in red text represent year-over-year growth rates. 29 ($ in millions) TOTAL PINNACLEC&I & O/O CRECRE & CONSTRUCTIONOTHER LOANS Amts. 3Q25 Amts. 3Q24 Amts. 3Q25 Amts. 3Q24 Amts. 3Q25 Amts. 3Q24 Amts. 3Q25 Amts. 3Q24 Nashville $8,648.8$8,581.8$4,218.4$3,979.4$2,405.5$2,744.7$2,024.9$1,857.7 Knoxville 2,140.62,056.51,144.11,064.2534.3558.9462.2433.4 Chattanooga 2,418.02,159.71,468.41,299.4478.4419.9471.2440.4 Memphis 2,327.72,306.81,122.41,149.9766.6760.3438.7396.6 Huntsville 245.6155.7127.281.490.852.527.621.8 Birmingham 913.4731.1781.6657.294.953.136.920.8 Bowling Green 224.3188.8163.3144.150.140.210.94.5 Louisville 234.3187.1221.3185.18.92.04.1- Total Tennessee /AL /KY $17,152.7$16,367.5$9,246.7$8,560.7$4,429.5$4,631.6$3,476.5$3,175.2 Greensboro/High Point $2,229.92,271.2$730.7$735.9$1,132.1$1,199.0$367.1$336.1 Charlotte 3,598.53,445.3933.4849.82,058.22,003.1606.9592.4 Raleigh 1,651.61,740.1359.0344.81,108.11,242.9184.5152.4 Charleston 1,319.61,133.2344.5218.9670.4634.5304.7279.8 Greenville 538.2532.3199.4187.9269.0273.269.871.2 Roanoke 794.1749.1454.9370.9207.1258.0132.1120.2 Washington, D.C. 1,062.1620.0820.6442.7191.6161.749.915.6 SBA Lending Team 288.5234.3252.8224.431.68.14.11.8 North Florida 287.436.1228.224.031.2-28.012.3 Total Carolina /VA /FL $11,769.9$10,761.6$4,323.5$3,399.3$5,699.3$5,780.5$1,747.1$1,581.8 Georgia $1,904.21,727.7$785.9678.4$1,003.1$935.9$115.2$113.4 Specialty Lending 3,972.42,998.63,531.72,644.678.697.6362.1256.4 Other 3,133.42,452.92,587.61,968.6267.2173.3278.6311.0 Total $37,932.6$34,308.3$20,475.4$17,251.6$11,477.7$11,618.9$5,979.5$5,437.8 Balance Sheet – Loan Portfolio – Market Segmentation Note: Percentages noted in red text represent year-over-year growth rates. 30 Balance Sheet – Loan Portfolio – CRE Segmentation ($ in millions)Total NOO and MultifamilyTotal ConstructionTotal NOO and Construction Amts. 3Q25 Amts. 2Q25 Amts. 3Q24 Amts. 3Q25 Amts. 2Q25 Amts. 3Q24 Amts. 3Q25 Amts. 2Q25 Amts. 3Q24 Multifamily $2,269.3$2,393.7$2,213.9$1,350.2$1,484.8$1,560.4$3,619.5$3,878.5$3,774.3 Warehouse 1,825.71,850.21,784.2326.5378.1350.22,152.22,228.32,134.4 Retail 1,534.21,505.11,534.3215.8160.6180.91,750.01,665.71,715.2 Office 835.6848.2883.7106.1111.4119.6941.7959.61,003.3 1-4 Family ---677.7668.9681.7677.7668.9681.7 Hospitality 550.7611.8626.849.042.22.7599.7654.0629.5 Sr. Housing & Care 445.8478.0541.814.57.16.3460.3485.1548.1 Medical 360.3368.9342.142.930.529.5403.2399.4371.6 Other 266.7229.5205.6606.7528.5555.2873.4758.0760.8 Total $8,088.3$8,285.4$8,132.4$3,389.4$3,412.1$3,486.5$11,477.7$11,697.5$11,618.9 31 Balance Sheet – Loan Portfolio Lines of Credit ($s in millions) 03/31/202406/30/202409/30/202412/31/20243/31/20256/30/20259/30/2025 Linked Qtr. Change CRE – Investment & Construction Net Active Balance$6,835.87$6,539.76$6,465.36$6,577.64$6,471.50$6,308.09$6,159.12($148.97) Net Available Credit3,793.183,455.513,057.263,050.573,196.133,419.864,012.35592.49 Total Exposure10,629.059,995.279,522.629,628.219,667.639,727.9510,171.47443.52 % Funded64.3%65.4%67.9%68.3%66.9%64.8%60.6%(4.2%) C&I and O/O CRE Net Active Balance$6,882.43$6,983.88$7,203.27$7,467.74$7,723.80$8,615.09$9,002.56$387.47 Net Available Credit8,786.858,851.119,120.869,684.1610,299.3310,673.2511,078.72405.47 Total Exposure15,669.2815,834.9916,324.1317,151.9018,023.1319,288.3420,081.28792.94 % Funded43.9%44.1%44.1%43.5%42.9%44.7%44.8%0.1% Consumer Net Active Balance$1,613.01$1,691.56$1,730.28$1,738.57$1,775.34$1,828.18$1,855.06$26.88 Net Available Credit2,552.102,566.912,593.112,628.922,672.662,707.802,767.4059.60 Total Exposure4,165.114,258.474,323.394,367.494,448.004,535.984,622.4686.48 % Funded38.7%39.7%40.0%39.8%39.9%40.3%40.1%(0.2%) Totals Net Active Balance$15,331.31$15,215.20$15,398.91$15,783.95$15,970.64$16,751.36$17,016.74$265.38 Net Available Credit15,132.1214,873.5214,771.2315,363.6516,168.1216,800.9117,858.471,057.56 Total Exposure30,463.4330,088.7230,170.1431,147.6032,138.7633,552.2734,875.211,322.94 % Funded50.3%50.6%51.0%50.7%49.7%49.9%48.8%(1.1%) 32 Balance Sheet – CRE Loan Portfolio Highlights •Over 90% of NOOCRE Portfolio is in Pinnacle’s attractive Southeastern demographic markets •Reduced construction and land development loans as a percentage of total risk-based capital to 59.6% in 3Q25 while total CRE as a percentage of total risk-based capital is now at 218.1%, below our long-term strategic target of 225% •Remain cautious on 1-4 single family residential guidance lines while open to strategic opportunities in Pinnacle’s newer markets •An elevated cost environment continues to challenge projects’ return on cost and is suppressing overall new development pipelines from historical highs 85.9% 84.2% 70.5% 59.6% 249.6% 259.0% 242.2% 218.1% 0.0% 50.0% 100.0% 150.0% 200.0% 250.0% 300.0% NOOCRE / Construction 100/300 Ratio Trends 100 Ratio - Target < 70%300 Ratio - Target < 225% Land / Spec A&D Office Hospitality Student Housing /Senior Housing 1-4 Resi Spec Properties Self Storage Medical Office Retail – Grocery Store Anchored Retail – Build to Suit 1-4 Resi. Pre-Sold Multifamily Industrial/Warehouse CRE Appetite by Segment 9.5% 4.7% 4.4% 2.4% 1.8% 1.6% 1.2% 1.0% 0.0% 2.0% 4.0% 6.0% 8.0% 10.0% 12.0% MultifamilyWarehouseRetailProfessional Office1-4 FamilyHospitalitySr. Housing & Skilled Nursing Medical Office 3Q25 NOOCRE & Construction Balances / Total Loans 33 $(0.3) $(0.3) $(1.2) $(0.1) $(0.4) $2.0 $1.1 $0.3 $12.6 $(0.0) $0.1 $0.5 0.00% -0.01% -0.03% -0.02% -0.02% 0.07% 0.05% 0.04% 0.11% 0.00% 0.00% 0.01% -0.04% -0.02% 0.00% 0.02% 0.04% 0.06% 0.08% 0.10% 0.12% $(5.0) $- $5.0 $10.0 $15.0 Dec 22Mar 23Jun 23Sep 23Dec 23Mar 24Jun 24Sep 24Dec 24Mar 25Jun 25Sep 25 PNFP CRE & Construction NCO $s (millions) and NCO % NCO ($s)NCO % Balance Sheet – Asset Quality •Continued strong asset quality with minimal past due accruing loans and 97.8% of portfolio graded pass; nonaccrual trends have stabilized beyond the one Class B multifamily loan placed on nonaccrual in Q1 25. •Softness in investor demand for NOOCRE loans due to evolving market conditions continue to keep new construction starts below historical levels. •Strong equity positions in the Commercial Real Estate portfolio help protect against slower stabilization periods. Values weighted by commitment LTV = current commitment as of 09/30/25 divided by appraised value from origination or renewal Metrics represent risk graded loans that cover approximately 98% of CRE & Construction Loans in the property types shown Key Property Metrics PropertyAll PropertiesConstruction TypesLTV %DSC RatioLTC % Multifamily49.4%1.5364.0% Warehouse51.4%1.6863.4% Retail53.6%1.6468.4% Prof. Office53.6%1.7063.0% Hospitality51.0%1.9163.3% 0.01% 0.01% 0.01% 0.01% 0.01%0.01% 0.01% 0.01% 0.01% 0.00% 0.01% 0.02% 0.02% 0.01% 0.05% 0.23% 0.22% 0.22% 0.16% 0.15% 0.12% 0.19% 0.18% 0.18% 0.01% 0.00% 0.00% 0.01% 0.13% 0.16% 0.12% 0.12% 0.13% 0.20% 0.19% 0.18% Dec 22Mar 23Jun 23Sep 23Dec 23Mar 24Jun 24Sep 24Dec 24Mar 25Jun 25Sep 25 PNFP CRE & Construction Accruing PD, Classified, and Non-Accruals Past Dues (Accruing)Classified LoansNon-Accrual 34 13.7% 10.4% 8.3% 7.8%7.8% 4.8% 4.0% 3.9% 3.3% 3.2% 0.0% 2.0% 4.0% 6.0% 8.0% 10.0% 12.0% 14.0% 16.0% Charlotte NC Nashville TN Orlando FL Atlanta GA Raleigh NC Charleston SC Austin TX Knoxville TN Chattanooga TN Denver CO 3Q25 Multifamily Balances by Property Location Multifamily Highlights (DRAFT) Balances include CRE & Construction Note: Balances include NOOCRE & Construction Balance Sheet – Loan Portfolio Multifamily Highlights •94.8% is located within the PNFP footprint •49.8% are MF Construction loans (by commitment): oAverage number of units 292 ($20MM+ Construction) oTypically, 4 & 5-star, garden style apartments oLocated in core urban and suburban Southeastern markets with limited amount of central business district projects •Maturities will create a downward draft on CRE balances. The fluctuation of the 10-Yr may slow down potential pay-offs but debt markets continue to be plentiful with attractive refinance structures •97.0% of risk rated loans are pass •19 loans at Sept. 30, 2025 with commitments greater than $40.0mm; Largest loan balance at Sept. 30, 2025 was $52.0mm Loan Size (by Comm.) Loan Count% of Balances % of Commitments Loan Age (Yrs) Unit Count (Avg) Construction Below $1MM30.0%0.0%1.436 $1MM - $5MM80.3%0.4%1.442 $5MM - $10MM40.5%0.6%2.099 $10MM - $20MM112.4%3.7%1.7216 $20MM - $40MM5123.2%34.1%1.8286 Above $40MM1110.9%11.0%2.7298 Construction Subtotal8837.3%49.8%1.8256 Term Below $1MM1521.4%1.2%6.520 $1MM - $5MM684.2%3.3%4.965 $5MM - $10MM162.8%2.4%4.4174 $10MM - $20MM227.7%6.2%4.0179 $20MM - $40MM4336.9%29.5%3.8344 Above $40MM89.7%7.7%3.5289 Term Subtotal30962.7%50.2%5.4154 Grand Total397100.0%100.0%4.6186 6.3% 2.9% 12.0% 23.8% 37.4% 17.7% 0.0%5.0%10.0%15.0%20.0%25.0%30.0%35.0%40.0% After 2029 2029 2028 2027 2026 2025 3Q25 Multifamily Balances by Maturity Year 35 Multifamily Highlights (DRAFT) Balance Sheet – Loan Portfolio Warehouse Highlights • Industrial production primarily focuses on construction opportunities with top-tier development platforms • Conservative loan basis exhibiting an average LTV of 51.4% and an average LTC of 63.4% for construction • Maturities will create a downward draft on CRE Balances; The fluctuation of the 10-Yr may slow down potential pay-offs but debt markets continue to be plentiful with attractive refinance structures • Disciplined underwriting using un-trended rents has offset the increased costs of today’s higher rate environment • No past due balances; 100% of risk rated loans are pass • Only 8 loans with commitments greater than $35mm at Sept. 30, 2025; Largest loan balance was $52.7MM at Sept. 30, 2025 9.8% 6.2% 5.5% 4.1% 4.0% 3.8% 3.7% 3.0%3.0% 2.9% 0.0% 2.0% 4.0% 6.0% 8.0% 10.0% 12.0% Charlotte NC Nashville TN Atlanta GA Cincinnati OH Chattanooga TN Spartanburg SC Asheville NC Indianapolis IN Winchester VA Winston- Salem NC 3Q25 Warehouse Balances by Property Location 5.5% 4.4% 10.2% 25.6% 25.2% 29.0% 0.0%5.0%10.0%15.0%20.0%25.0%30.0%35.0% After 2029 2029 2028 2027 2026 2025 3Q25 Warehouse Balances by Maturity Year Loan Size (by Comm.) Loan Count % of Balances % of Commitments Loan Age (Yrs) Square Feet (Avg) Construction Below $1MM20.0%0.1%7.097,014 $1MM - $5MM20.4%0.4%2.5116,384 $5MM - $10MM00.0%0.0%-- $10MM - $20MM11.7%1.6%4.0551,103 $20MM - $35MM00.0%0.0%-- Above $35MM27.0%8.2%5.3573,114 Construction Subtotal79.1%10.3%4.8303,446 Term Below $1MM31211.7%11.4%6.212,423 $1MM - $5MM12329.3%27.9%5.230,832 $5MM - $10MM1511.4%11.3%5.875,819 $10MM - $20MM1317.8%17.6%4.9133,827 $20MM - $35MM512.7%12.9%5.2471,455 Above $35MM28.0%8.8%5.5511,299 Term Subtotal47090.9%89.7%5.945,337 Grand Total477100.0%100.0%5.952,960 36 Multifamily Highlights (DRAFT) Balance Sheet – Loan Portfolio Professional Office Highlights •95.1% of Professional Office CRE properties are in PNFP market •The concentration in Nashville is primarily due to the participation in the Nashville Yards project (approximately 13.2% of the 35.0%). The loan consists of 3 office towers; 2 are 100% leased to investment grade tenants with favorable leases and the third serves as PNFP’s new headquarters and is 67% leased. •Limited professional office is exposure at 2.4% of total loans •Granular portfolio with only 9 loans > $20 million o 4 loans with commitments greater than $35mm at Sept. 30, 2025; Largest office loan balance was $41.4mm at Sept. 30, 2025 o Average commitment of $32.4MM and average balance of $28.2MM o No spec construction, pre-leasing > 50% •Remaining 495 loans have an average outstanding balance of $1.42 million •LTV of 53.4%, LTC of 63.0%, Stabilized Occupancy of 89.8% •No past due balances; 97.7% of risk rated loans are pass Loan Size (by Comm.) Loan Count% of Balances% of CommitmentsLoan Age (Yrs) Square Feet (Avg) Construction Below $1MM30.1%0.1%6.397,014 $1MM - $5MM30.6%0.8%2.682,649 $5MM - $10MM00.0%0.0% $10MM - $20MM11.7%1.6%3.8551,103 $20MM - $35MM00.0%0.0% Above $35MM26.8%8.2%5.1573,114 Construction Subtotal99.2%10.6%4.5267,413 Term Below $1MM32612.1%11.8%6.113,308 $1MM - $5MM12830.1%29.0%5.230,218 $5MM - $10MM1611.9%11.9%5.979,679 $10MM - $20MM1216.5%16.6%4.7133,827 $20MM - $35MM616.9%16.4%4.7417,455 Above $35MM13.4%3.7%7.4511,299 Term Subtotal48990.8%89.4%5.845,047 Grand Total498100.0%100.0%5.852,308 36.2% 12.8% 6.1% 6.0% 5.1% 4.7% 3.1% 2.9% 2.8%2.8% 0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 30.0% 35.0% 40.0% Nashville TN Raleigh NC Charlotte NC Durham NC Charleston SC Greenville SC Greensboro NC Seattle WA Winston- Salem NC Knoxville TN 3Q25 Professional Office Balances by Property Location 13.7% 6.3% 23.5% 22.7% 29.6% 4.3% 0.0%5.0%10.0%15.0%20.0%25.0%30.0%35.0% After 2029 2029 2028 2027 2026 2025 3Q25 Professional Office Balances by Maturity Year 37 45.6% 10.2% 22.4% 21.7% 0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 30.0% 35.0% 40.0% 45.0% 50.0% LTV < 60%LTV 60% to 70%LTV 70% to 80%LTV ≥ 80% 3Q25 Single Tenant Office LTVs 83.8% 8.5% 7.3% 0.5% 0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0% 70.0% 80.0% 90.0% LTV < 60%LTV 60% to 70%LTV 70% to 80%LTV ≥ 80% 3Q25 Multi-Tenant Office LTVs Multifamily Highlights (DRAFT) Balance Sheet – Loan Portfolio Professional Office Highlights Avg Bal: $2.6 MM Avg Bal: $5.9 MM Avg Bal: $3.6 MM Avg Bal: $2.6 MM Avg Bal: $2.1 MM Avg Bal: $1.7 MM Avg Bal: $3.4 MM Avg Bal: $8.7 MM 5% 9% 30% 56% 3Q25 Professional Office Portfolio by Type Office Condo Mixed Use Office Single Tenant Multi-Tenant 38 Total Allowance for Credit Losses for loans = $434.5mm or, 1.15% of loans, at September 30, 2025 (1)Calculation based on end of period loan balance (2)Net charge-off percentage calculation is annualized and in relation to avg. quarterly loan balances $ in thousands Allowance for Credit Losses % of Loans Off-Balance Sheet Total At September 30, 2024$391,5341.14% (1) $12,469$404,003 Initial ACL assigned to PCD$14,115 $14,115 Net Charge Offs($20,807) 0.24% (2) ($20,807) 4Q Provision$29,652 $-$29,652 At December 31, 2024$414,494 1.17% (1) $12,469$426,963 Net Charge Offs($13,992) 0.16% (2) ($13,992) 1Q Provision$16,960 $-$16,960 At March 31, 2025$417,462 1.16% (1) $12,469$429,931 Net Charge Offs($18,737) 0.20% (2) ($18,737) 2Q Provision$23,400 $845$24,245 At June 30, 2025$422,125 1.14% (1) $13,314$435,439 Net Charge Offs($16,788) 0.18% (2) ($16,788) 3Q Provision$29,113 $2,826$31,939 At September 30, 2025$434,450 1.15% (1) $16,140$450,590 Allowance for Credit Losses 39 Allowance for Credit Losses ($ in thousands) Allowance for Credit Losses September 30, 2025 June 30, 2025 March 31, 2025 December 31, 2024 September 30, 2024 Amount % of LoansAmount % of LoansAmount % of LoansAmount % of LoansAmount % of Loans Commercial and Industrial $192,4541.24%$187,0201.25%$183,2051.30%$174,7991.27%$162,3711.25% Commercial Real Estate 108,7050.84%106,7310.82%108,9280.84%117,6510.94%112,4630.91% Construction and Land Development 35,0961.04%32,7530.96%30,4610.86%33,6200.91%32,3750.93% Consumer Real Estate 88,0561.64%87,2961.69%86,4471.74%80,0421.63%76,1871.55% Consumer and Other 10,1391.67%8,3251.40%8,4211.48%8,3821.56%8,1381.54% Allowance for Credit Losses - Loans $434,4501.15%$422,1251.14%$417,4621.16%$414,4941.17%$391,5341.14% Reserve for unfunded commitments 16,14013,31412,46912,46912,469 Allowance for Credit Losses - Total $450,590$435,439$429,931$426,963$404,003 40 (*) Excludes past due loans rated substandard ($ in thousands)September 30, 2025 AS A % OF TOTAL LOANS June 30, 2025 AS A % OF TOTAL LOANS September 30, 2024 AS A % OF TOTAL LOANS NPLs and > 90 days Const. and land development $2,1810.01%$2,2940.01%$3,1860.01% Consumer RE 27,4910.07%28,8390.08%32,6350.10% CRE – Owner Occupied 10,6280.03%12,2420.03%7,7270.02% CRE – Non-Owner Occupied 67,4150.18%68,7920.19%38,9060.11% Total real estate $107,7150.29%$112,1670.31%$82,4540.24% C&I 43,4250.11%48,2170.13%39,1590.12% Other1,1750.00%1,4380.00%1,2910.00% Total loans $152,3150.40%$161,8220.44%$122,9040.36% Classified loans and ORE Classified commercial loans$197,5390.52%$169,0270.46%$152,2910.44% Doubtful commercial loans-0.00%-0.00%-0.00% Other impaired loans31,0250.08%35,7220.10%43,7120.13% 90 days past due and accruing (*)2,6320.01%4,6520.01%3,6110.01% Other real estate5,1290.01%4,8350.01%7500.00% Other repossessed assets810.00%-0.00%730.00% Total$236,4060.62%$214,2360.58%$200,4370.58% Pinnacle Bank classified asset ratio4.2%3.9%3.9% Balance Sheet – Asset Quality 41 Balance Sheet – Asset Quality 0.10% 0.16% 0.23% 0.18% -0.20% 0.00% 0.20% 0.40% 0.60% 0.80% 1.00% 1.20% 1.40% 1.60% CREConstructionC&IConsumer REConsumer and other Total Net Charge Off Rates Annualized Net Loan Charge Offs by Loan Type 202220232024YTD 2025 42 Balance Sheet – Asset Quality – 100/300 Test ($ in thousands) Description3Q252Q251Q254Q243Q24 Loans secured by real estate: Construction, land development, and other loans: 1-4 family residential construction loans$655,063$644,847$664,689$670,350$667,600 Other construction loans and all land development and other land loans2,734,3882,767,2132,861,1713,028,9712,818,905 Loans included in the 100% test$3,389,451$3,412,060$3,525,860$3,699,321$3,486,505 Secured by multifamily (5 or more) residential properties$2,289,522$2,397,809$2,362,656$2,208,335$2,213,153 Loans secured by other nonfarm nonresidential properties5,803,8515,891,6945,977,5835,931,4205,919,235 Financed real estate not secured by real estate 618,511528,532492,003511,639451,932 Unsecured REITs295,333380,978343,841356,907366,250 Loans included in the 300% test$12,396,668$12,611,073$12,701,943$12,707,622$12,437,075 Total Risk-Based Capital$5,684,596$5,517,167$5,372,342$5,246,472$5,111,617 % of Total Risk-Based Capital 100% Test – Construction and Land Development60%62%66%71%68% 300% Test – Construction and Land Development + NOOCRE + Multifamily218%229%236%242%243% 43 Note: Strategic expansion volumes include certain deposits that are recorded in the various geographies (as detailed on slide 45) but for illustration purposes above are included as Strategic Expansion deposits due to the relationship managers being assigned to a specialty lending unit. Net Deposit Growth – 3Q25 – Strategic Decisions: •Strategic Expansion - $892 million •Jacksonville, Atlanta, DC, Alabama, Kentucky, Franchise Finance, Equipment Finance •Legacy Recruiting Impact – $46 million •New RMs hired in past 2.5 years other than in our strategic market expansions •Legacy market – Reduction of $210 million •RMs in legacy markets such as Nashville, Charlotte, Raleigh, Charleston, Memphis, Chattanooga, etc. that have been with Pinnacle for greater than three years Balance Sheet – Deposit Portfolio 44 Balance Sheet – Deposit Portfolio – Market Segmentation ($ in millions) TOTAL DEPOSITSCORE DEPOSITSNONCORE DEPOSITS TOTAL PINNACLETRANSACTION AND MMDACDsPUBLIC FUNDS and OTHER DEPOSITS 3Q253Q243Q253Q243Q253Q243Q253Q24 Nashville $15,358.5$14,782.5 $13,948.1$13,057.5 $720.4$741.2 $690.0$983.8 Knoxville 3,254.82,944.22,977.52,645.9188.1213.289.285.1 Memphis 2,388.52,354.72,017.61,928.7248.9275.6122.0150.4 Chattanooga 2,822.12,618.82,570.92,316.3164.8212.086.490.5 Birmingham 456.5343.0336.4262.23.62.9116.577.9 Huntsville 468.6422.7451.4406.26.56.510.710.0 Louisville 376.756.1354.832.321.423.80.5- Bowling Green 171.3138.4167.5136.42.71.71.10.3 Total TN/AL/KY $25,297.0$23,660.4 $22,824.2$20,785.5 $1,356.4$1,476.9 $1,116.4$1,398.0 Greensboro/High Point 3,292.13,180.42,810.62,658.4304.3325.2177.2196.8 Charlotte 2,367.72,281.02,045.41,953.7197.4205.1124.9122.2 Charleston 1,791.21,694.71,559.51,454.6135.0161.496.778.7 Raleigh 1,282.21,119.91,114.61,021.0127.883.939.815.0 Roanoke 1,077.6951.5961.8816.482.398.933.536.4 Greenville 541.0506.1433.9393.370.971.436.241.4 Washington, D.C. 2,501.71,265.92,278.21,092.8206.2155.217.317.9 North Florida 414.414.6409.214.52.60.12.6- Total Carolinas / VA $13,267.9$11,014.1 $11,613.2$9,404.7 $1,126.5$1,101.0 $528.2$508.4 Atlanta 1,282.4783.51,247.0756.311.59.623.917.6 Specialty Lending 1,023.5946.61,018.8941.21.62.33.13.1 Other 4,856.34,550.31,576.31,252.238.234.93,241.83,263.2 Total $45,727.1$40,954.9 $38,279.5$33,139.9 $2,534.2$2,624.7 $4,913.4$5,190.3 Note: Percentages noted in red text represent year-over-year growth rates. Numbers may not foot due to rounding. 45 Balance Sheet - Deposit Portfolio Estimated Liquidity Available for Uninsured Deposits ($s in millions) Balances at Sept. 30, 2025 Total Deposits $45,727 Less: Insured and/or Collateralized Deposits $28,810 Total Deposits – Uninsured / Uncollateralized $16,917 Estimated Liquidity Available for Uninsured Deposits: Est. Immediately Available through Cash, Fed Discount Window $9,850 Est. Other sources – FHLB, Unpledged bonds, Reciprocal deposit programs $9,494 Estimated Liquidity Available for Uninsured Deposits $19,344 Coverage Ratio of Uninsured and Uncollateralized Deposits 1.14x $55,000 $60,000 $65,000 $70,000 $75,000 $80,000 $85,000 $90,000 2019202020212022202320243Q25 Avg. Deposit Acct Size 5.0% 10.0% 15.0% 20.0% 25.0% 30.0% 35.0% 2019202020212022202320243Q25 Noninterest Bearing Deposits to Total Deposits (End of Period Balances) 33.7% 42.9% 38.9% 28.9% 32.7% 37.0% 0.00% 10.00% 20.00% 30.00% 40.00% 50.00% 202020212022202320243Q25 Ratio of EOP Uninsured and Uncollateralized Deposits to Total Deposits 46 Quarter Duration Net of Hedging Unhedged Duration Avg. Yield - TE 3Q252.3%5.9%4.4% 2Q252.7%6.4%4.4% 1Q252.4%6.3%4.3% 4Q242.1%6.2%4.3% 3Q242.0%6.2%4.6% 2Q243.5%6.5%4.4% 1Q243.1%6.3%4.1% 4Q232.9%6.2%4.1% 3Q234.4%7.7%3.8% 2Q234.5%6.1%3.7% Balance Sheet – Bond Portfolio 61% of effective duration has been neutralized via hedging Security Type 9/30/25 Balance % of Portfolio 6/30/25 Balance % of Portfolio 3/31/25 Balance % of Portfolio 12/31/24 Balance % of Portfolio Treasuries1,680,04318.0%1,639,36617.4%1,526,45816.9%1,526,37217.5% Agencies416,8134.5%443,3654.7%469,8515.2%493,6785.7% MBS1,958,36021.0%1,999,85721.2%2,043,63122.7%2,200,73025.2% CMOs1,400,51915.0%1,463,69615.5%1,154,97512.8%743,8618.5% Municipals3,612,71238.8%3,618,44238.4%3,505,73438.9%3,434,39039.4% Asset Backed121,0111.3%133,4321.3%155,4621.7%176,2352.0% Corporates123,2811.3%122,6911.4%152,3321.7%152,4781.7% Portfolio Book Value9,312,739100.0%9,420,851100.0%9,008,443100.0%8,727,745100.0% Unrealized G(L), gross(256,131)(2.8%)(354,199)(3.8%)(289,649)(3.2%)(346,478)(4.0%) Portfolio Carrying Value9,056,60897.2%9,066,65196.2%8,718,79496.8%8,381,26896.0% Unrealized G(L), net (AOCI)(133,684)(202,183)-(148,318)-(141,629)- 49% 46% 45% 43% 45% 51% 54% 55% 57% 55% Sep. 2024Dec. 2024Mar. 2025Jun. 2025Sep. 2025 Bond Portfolio Composition End of Period Fixed RateVariable Rate 4.41 3.46 16.2 17.3 10.0 12.5 15.0 17.5 20.0 22.5 25.0 1.50 2.00 2.50 3.00 3.50 4.00 4.50 5.00 1Q202Q203Q204Q201Q212Q213Q214Q211Q222Q223Q224Q221Q232Q233Q234Q231Q242Q243Q244Q241Q252Q253Q25 % of Total Assets Bond Yields PNFP - YieldPeer Median - YieldPNFP - % of AssetsPeer Median - % of Assets 47 Interest Rate Sensitivity Note: We believe our interest rate sensitivity modeling is consistent with regulatory requirements.Our interest rate sensitivity modeling incorporates a number of broad assumptions for earnings simulation, including loan and deposit re-pricing characteristics, the rate of loan prepayments, static balance sheet, etc. Management periodically reviews these assumptions for accuracy based on historical data and future expectations and may change assumptions over time based on better data sources, improved modeling techniques, regulatory changes, etc. Our ALCO policy requires that the base scenario assumes ALL rates remain flat for the prescribed time periods and is the scenario, including those above, to which all others are compared in order to measure the change in net interest income. Policy limits are applied to the results of certain modeling scenarios. While the primary policy scenarios focus is on a twelve-month time frame, including the information above, for the earnings simulations model, longer time horizons are also modeled but are not shown herein. *Analysis reflects modeling as of 8.31.25 *Analysis reflects modeling as of 8.31.25 1.5% 1.6% 1.2% 0.6% 0.7% 0.3% 0.1% -0.1% -0.1% -0.1% 0.1% -1.2% -1.6% -1.2% -0.6% -0.7% -0.3% 0.1% 0.4% 0.4% 0.4% 0.4% -5.0% -3.0% -1.0% 1.0% 3.0% 5.0% 1Q232Q233Q234Q231Q242Q243Q244Q241Q252Q253Q25* Net Interest Income %  Rate Ramp Scenarios Ramp +100Ramp -100 2.5% 3.0% 2.4% 1.4% 1.4% 0.6% 0.3% -0.1% 0.0% 0.1% 0.3% -2.0% -2.9% -2.4% -1.4% -1.4% -0.7% 0.3% 0.7% 0.6% 0.6% 0.6% -5.0% -3.0% -1.0% 1.0% 3.0% 5.0% 1Q232Q233Q234Q231Q242Q243Q244Q241Q252Q253Q25* Net Interest Income %  Rate Shock Scenarios Shock +100Shock -100 48 * Adjusted noninterest income is a non-GAAP financial measure that excludes gains and losses on sales of investment securities. For a reconciliation of this Non-GAAP financial measure to the most directly comparable GAAP measure, see slides 59-60. Fee Income (dollars in thousands)3Q252Q253Q24 Linked- Quarter Annualized Growth % Year-over- Year Growth % Service charges$18,290$17,092$16,21728.0%12.8% Investment services23,91019,32417,86894.9%33.8% Insurance commissions4,0163,6933,28635.0%22.2% Gains on mortgage loans sold, net1,8281,9652,643(27.9%)(30.8%) Losses on sales of investment securities, net---NMNM Trust fees10,3169,2808,38344.7%23.1% Income from equity method investment (BHG)40,61426,02716,379>100.0%>100.0% Gains on sale of fixed assets-2021,837 (100.0%)(100.0%) Other: Interchange and other consumer fees20,03120,24819,939 (4.3%)0.5% Bank-owned life insurance12,01111,63010,172 13.1%18.1% Loan swap fees2,5442,1172,798 80.7%(9.1%) SBA loans sales 1,3841,7291,207 (79.8%)14.7% Income from other equity investments4,4012,9906,226 >100.0%(29.3%) Other8,5939,1608,287(24.8%)3.7% Total noninterest income$147,938$125,457$115,24271.7%28.4% Noninterest income/Average Assets1.06%0.93%0.93%55.9%14.0% Adjusted noninterest income*$147,938$125,457$115,24271.7%28.4% Adjusted noninterest Income*/Total Avg. Assets1.06%0.93%0.93%55.9%14.0% •Income from BHG continues to be up significantly on both a linked-quarter and year-over-year basis. •Core fee categories of wealth management reflect strong revenue growth in 3Q25 over 2Q25 and 3Q24. •Service charges increased $1.2 million linked-quarter due to increased interchange on check cards during the quarter. •Bank-owned life insurance increased $1.8 million between 3Q25 and 3Q24 due to the purchase of an additional $150 million in policies during the first nine months of 2025. •Income from other equity investments increased in 3Q25 as compared to 2Q25 and decreased in 3Q25 as compared to 3Q24 due to adjustments to the fair value of these investments in the comparative periods. 49 * Adjusted noninterest expense is a non-GAAP financial measure that excludes the impact of ORE expense (income) and merger-related expenses. ** Adjusted efficiency ratio is a non-GAAP financial measure that excludes the impact of ORE expense (income), losses on sales of investment securities and merger-related expenses. For a reconciliation of these non-GAAP financial measures to the most directly comparable GAAP measures, see slides 59-60. 50 Noninterest Expense (dollars in thousands)3Q252Q25 3Q24 Linked-Quarter Annualized Growth % Yr-over-Yr Growth % Salaries and commissions$115,864$111,897 $103,354 14.2%12.1% Cash and equity incentives 45,48344,763 33,513 6.4%35.7% Employee benefits and other25,65424,586 23,367 17.4%9.8% Total personnel costs$187,001$181,246 $160,234 12.7%16.7% Equipment and occupancy 48,91048,043 42,564 7.2%14.9% Other real estate, net 146137 56 26.3%>100.0% Marketing and other business development 7,9028,772 5,599 (39.7%)41.1% Postage and supplies 3,4013,192 2,965 26.2%14.7% Amortization of intangibles 1,3981,400 1,558 (0.6%)(10.3%) Merger-related expenses 7,727- - 100.0%100.0% Other noninterest expense: Deposit related expense18,72114,988 15,891 99.6%17.8% Lending related expense16,90916,401 17,729 12.4%(4.6%) Wealth management expense1,039980 807 24.1%28.7% Other noninterest expense9,98511,287 11,916 (46.1%)(16.2%) Total other noninterest expense$46,654$43,656 $46,343 27.5%0.7% Total noninterest expense$303,139$286,446 $259,319 23.3%16.9% Efficiency ratio55.6%56.7% 55.6% (7.8%)0.0% Noninterest expense/Total average assets2.18%2.13% 2.08% 9.4%4.8% Adjusted noninterest expense *$295,266$286,309 $259,263 12.5%13.9% Adjusted efficiency ratio ** 54.2%56.7% 55.6% (17.6%)(2.5%) Adjusted noninterest expense*/Total avg. assets2.12%2.13% 2.08% (1.9%)1.9% Headcount (FTE)3,657.53,627.0 3,516.5 3.4%4.0% •Salaries and commissions reflect the impact of increased headcount and merit raises since January 1, 2025. •Cash incentives in 3Q25 reflect the resetting of estimated incentive payouts for 2025. Cash incentive expense is adjusted each quarter to reflect the anticipated payout percentage for the annual cash incentive plan. At 3Q25, we are accruing incentives at 125% of target vs. 115% of target at 2Q25 and 90% of target at 3Q24. •Merger-related expenses associated with our proposed merger with Synovus Financial were $7.7 million through 3Q25. •Increased costs in equipment and occupancy reflect new properties and equipment placed into service since January 1, 2025; a portion of which relates to our occupancy of our new Nashville, TN headquarters during the first quarter of 2025. •Deposit related expense was impacted by increases in variable costs related to the support of specialty deposit programs. *: LTM revenue per share is a non-GAAP financial measure that excludes gains and losses on sales of investment securities, loss on BOLI restructuring, gain on sale of fixed assets as a result of sale-leaseback transaction and recognition of mortgage servicing asset. For a reconciliation of these Non-GAAP financial measures to the most directly comparable GAAP measure, see slides 59-60. Note: See slide 61 for peer group utilized in the above analysis. Peer group calculated by aggregating total peer revenues by total peer weighted avg. shares for each quarter. Source: S&P Global Market Intelligence Income Statement – Revenue Per Share $13.87 $14.05 $14.35 $15.07 $15.78 $16.51 $17.07 $17.50 $17.85 $18.62 $19.51 $20.33 $21.09 $21.39 $21.48 $21.45 $21.60 $21.89 $22.49 $23.39 $24.12 $24.93 $25.90 11.6% 8.7% 6.8% 11.3% 13.8% 17.5% 19.0% 16.2% 13.1% 12.8% 14.3% 16.2% 18.2% 14.9% 10.1% 5.5% 2.4% 2.4% 4.7% 9.1% 11.7% 13.9% 15.2% 5.8% 6.7% 6.6% 5.3% 6.5% 5.8% 3.4% 0.5% -0.3% 1.3% 4.5% 10.9% 15.2% 16.0% 10.7% 1.2% -3.8% -6.0% -5.5% 2.6% 4.3% 6.1% -8.0% -6.0% -4.0% -2.0% 0.0% 2.0% 4.0% 6.0% 8.0% 10.0% 12.0% 14.0% 16.0% 18.0% 20.0% $12.00 $13.00 $14.00 $15.00 $16.00 $17.00 $18.00 $19.00 $20.00 $21.00 $22.00 $23.00 $24.00 $25.00 $26.00 1Q202Q203Q204Q201Q212Q213Q214Q211Q222Q223Q224Q221Q232Q233Q234Q231Q242Q243Q244Q241Q252Q253Q25 Y/Y Revenue per Share Growth Revenue per Share LTM Revenue Per Share Growth* vs. Peers PNFP LTM Rev/SharePNFP Y/YPeer Median Y/Y 51 Tangible Book Value Growth 14.2% 5.1% 14.8% 9.5% 12.6% 2021 2022 2023 2024 2025* Focused on preserving and growing TBV per common share – YTD growth *: YTD Annualized Note: For a reconciliation of this Non-GAAP financial measure to the most directly comparable GAAP measure, see slide 59-60. See slide 61 for peer group utilized in the above analysis. Highlights •Quarterly dividend per common share increased to $0.24 in 1Q25 •Tangible book value per common share at Sept. 30, 2025 was $61.53, up 11.6% from Sept. 30, 2024 •Common equity tier 1 risk-based capital ratio was 10.8% at both Sept. 30, 2025 and Sept. 30, 2024 •Capital Ratios remains strong with top quartile Tangible Common Equity/Tangible Assets ratios at June 30, 2025 compared to peers **: excluding goodwill, core deposit and other intangible assets 8.8% 8.5% 8.6% 8.6% 8.8% 8.5% 7.3% 7.7% 8.3% 6.00% 7.00% 8.00% 9.00% 2021Y2022Y2023Y2024Y3Q25 Tangible Common Equity Ratio PNFP and Peer Medians PNFPPeer Median PNFP TCER has approximated 8.5% since 2021 while many peers have experienced TCER dilution for same period most likely due to elevated interest rate environment and resulting impact on AOCI $40.98 $42.44 $48.78 $55.12 $61.53 Tangible Book Value per Share** 52 BHG Credit Quality Continues to Impress Sophisticated credit scoring models produce impressive results BHG Continues to Leverage & Grow its Distribution Network Historically high origination & placement volume in 3Q25 while maintaining tight credit Bank Buyers in Funding Network Quarterly Origination & Placements ($mm) Total Banks In Network Unique Buyers Each Period Source: BHG Internal Data •BHG’s origination volumes rose again in Q3, supported by continued growth in lead flow. •Placements through the BHG Bank Network remained robust, with loans sold at $561 million in Q3. •The BHG Loan Hub maintains a diverse base, featuring 782 unique bank buyers over the past twelve months. •Banks continue to be drawn to BHG loans due to the blend of higher yields and strong historical credit performance. •BHG’s distinct funding platform, including its bank network and institutional investors, provide ample funding for increased origination volume. Placements to institutional investors was a record in Q3 at $1.3B demonstrating strong demand for BHG credit across multiple investors and structures •BHG implements various initiatives to foster strong engagement and loyalty among its bank partners: •Quarterly and monthly seminars •Regulatory and risk management advisory services •Access to top-tier technology providers •Regular communications on BHG’s performance and other company updates $435 $446 $533 $467 $521 $505 $605 $614 $561 $564 $354 $396 $232 $272 $329 $772 $616 $1,275 $1,039 $786 $692 $871 $989 $1,161 $1,210 $1,497 $1,725 $0 $500 $1,000 $1,500 $2,000 3Q234Q231Q242Q243Q244Q241Q252Q253Q25 Placements to Bank NetworkPlacements to Institutional InvestorsOrigination - 200 400 600 800 1,000 0 400 800 1,200 1,600 2,000 20172018201920202021202220232024TTM Q3 2025 Total Banks In NetworkUnique Buyers 53 Bank Auction Platform Rates •Bank buy rates continued to decrease, demonstrating confidence in BHG credit. •Auction platform spreads remain above long- term averages, finishing at 10.3% for 3Q25, highest since 2022 •BHG continues to work with bank partners to optimize risk/return dynamics and facilitate attractive loan economics. BHG Credit Quality Continues to Impress Sophisticated credit scoring models produce impressive results BHG Produces Wide Spreads on Bank Auction and Balance Sheet Deals Spreads above 10% for Off Balance Sheet Bank Network Sales and On Balance Sheet Loans Off Balance Sheet - Borrower Coupon and Bank Buy Rates Blended Portfolio Yield On Balance Sheet & Related on Balance Sheet Funding Costs 15.5% 15.8% 17.0%16.7%16.7%16.4%17.0%17.3%17.3%17.6%17.2%17.4%17.9% 5.8% 6.9% 7.6% 8.0% 8.6% 8.8% 8.9% 8.6% 8.1% 7.9% 7.7% 7.6% 7.6% 0.0% 3.0% 6.0% 9.0% 12.0% 15.0% 18.0% 3Q224Q221Q232Q233Q234Q231Q242Q243Q244Q241Q252Q253Q25 Borrower Coupon on Loans Sold to BankBank Buy Rate 15.1% 15.5% 15.4% 15.3% 15.5% 16.3%16.3% 15.9% 16.6% 16.8% 17.1% 17.2% 18.0% 3.6% 4.6% 5.6% 5.9% 6.3% 6.6% 6.7% 6.4% 6.8% 6.6% 6.4% 6.5% 6.7% 0.0% 3.0% 6.0% 9.0% 12.0% 15.0% 18.0% 3Q224Q221Q232Q233Q234Q231Q242Q243Q244Q241Q252Q253Q25 Loan Interest Income YieldBorrowing Rates On-Balance Sheet Rates •Chart details blended rates for the entire on- balance sheet portfolio at quarter end. •Approximately 90% of balance sheet loans are fixed rate placements with locked in spreads approximating 11.3% for 3Q25. Source: BHG Internal Data 54 BHG Reserves Compare Favorably to Trailing Credit Loss The trailing 12-month balance sheet loss figure declined to 5.9% in Q3 Source: BHG Internal data (1)Credit loss represents delinquent loans that BHG brought back from bank partners. (2)Prepayment loss represents writing off unamortized premium from gain on sale premium related to loans sold to bank partners. (3)Reserves that BHG creates on balance sheet against anticipated losses on account of delinquency or pre-payment related to loans sold to bank partners. Legally BHG is not obligated to purchase delinquent loans from banks. Reserves and Losses for Off B/S Loans (TTM) Reserves and Losses of On B/S Loans (TTM) (3) (1)(2) •Trailing 12-month losses for off-balance sheet loans total 7.7% including the impact of loans where borrower elects to prepay. The Q3 reserve balance for estimated loan substitutions and prepayments totaled 7.9%. •BHG’s reserve for on-balance sheet loans increased to 11.2% in Q3. The trailing 12- month actual experienced loss declined quarter over quarter; however, given new balance placements BHG is reserving for future loss. •Delinquency rates continue to trend favorably as 2024 originations demonstrate improved credit results. 0% 1% 2% 3% 4% 5% January April July October January April July October January April July October January April July October January April July 20212022202320242025 BHG 30 Days PD Trend Total DelinquencyCommercial LoansConsumer Loans $0 $1,000 $2,000 $3,000 $4,000 $5,000 $6,000 $7,000 $8,000 $9,000 3Q234Q231Q242Q243Q244Q241Q252Q253Q25 Loan Balances on/off Balance Sheet (in MM) On Balance SheetOff Balance Sheet 4.2% 4.9% 5.2% 5.5% 5.3% 1.5% 1.7% 1.9% 2.2% 2.4% 6.2% 7.1% 7.5% 7.8% 7.9% 0.0% 4.0% 8.0% 12.0% 3Q244Q241Q252Q253Q25 Credit Loss %Prepayment Loss %Estimated Subs & Prepays as % of Loans in bank network 7.4% 7.3% 6.8% 6.3% 5.9% 9.1% 9.3%9.3% 10.5% 11.2% 0.00% 4.00% 8.00% 12.00% 3Q244Q241Q252Q253Q25 TTM Net Charge Offs to Avg. Loans HFICECL Allowance to Loans HFI 55 BHG has Increased Focus on Higher FICO Originations Over 80% of 2025 Originations were originated to FICO scores of 700+ •BHG continues to refine and tighten its credit underwriting: •Losses in certain risk classes, particularly the lower credit tranches of loans made post- COVID (2021 and 2022), exceeded acceptable internal tolerances prompting more conservative underwriting standards by BHG beginning in 2023. •More recent vintages are performing more in line with lower credit loss expectations •Historical credit analysis indicates that approximately 70% of losses occur within the first 36 months of origination. Cumulative Net Loss Curves FICO Mix $456 $610 $711 $873 $1,449 $1,785 $2,808 $4,145 $3,936 Originations ($ mm) Source: BHG Internal Data $3,705 $4,433 0%20%40%60%80%100% 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 <650650-699700-749750-799>800 56 BHG Credit Quality Continues to Impress Sophisticated credit scoring models produce impressive results BHG Has Diverse, Growing Funding Channels Proactive management of placement channels continues to provide flexibility to BHG’s platform Off B/S Revolving facilities Loan Sale Auction Platform Bank Warehouses Private Whole Loan Sale Secured Borrowing Term ABS Deals (Public) 3 Warehouse facilities with large banks, providing up to $750mm in funding capacity, with $0 utilization as of Sept 30, 2025. $3.8B+ in notes issued through 11 transactions over 5 years. Over $2.6B in cumulative secured borrowing placements to date. BHG and investor share in credit losses under pre-determined split. Term Loans Working Capital Line Over 1,695 banks in network. 782 unique banks acquired BHG loans over the past 12 months, with $2.3B sold. 3Q25 sales equal $561M $1.6B over the last 12 months $541M in 3Q25 $650mm revolving line of credit to fund near-term cash needs for new loans – 7 banks in facility ($275mm utilized as of Sept 30, 2025). Source: BHG Internal Data Passthrough/4a2 First Deal of the “BOLT” shelf was closed in July 2025 for $125M. 57 BHG Financials Source: BHG Internal Data, unaudited. ($'s in thousands)3Q 20252Q 20251Q 2025 Interes t Income145,836$ 136,144$ 134,494$ Interes t Expens e43,021 41,600 40,642 Provi s i on for Loan Los s es93,226 50,850 42,623 Net Interest Income After Provision for Loan Losses9,589 43,694 51,229 Gai ns on Loan Sal es & Ori gi nati on Fees187,739 113,601 95,014 Other Income37,736 20,392 11,155 Total Net Revenues235,064 177,687 157,398 Gross Revenues371,311 270,137 240,663 Sal ary and Benefi ts68,181 57,882 51,490 Marketi ng Expens es19,159 17,518 19,139 Portfol i o Expens es12,033 12,075 10,995 Other Expens es42,330 38,788 31,628 Total Operating Expenses141,703 126,263 113,252 Net Earnings93,361$ 51,424$ 44,146$ Profitability Statistics Earnings to Gross Revenues25.14%19.04%18.34% Portfolio Mgmt Expense to Gross Revenues39.93%38.69%39.17% Operating Expenses to Gross Revenues34.92%42.27%42.49% ($'s in thousands) At Sept 30, 2025 At Jun 30, 2025 At Mar 31, 2025 Cash and Cash Equivalents715,888 592,500 762,815 Loans Held for Investment3,000,875 2,664,514 2,655,603 Allowance for Loan Losses(336,130) (279,136) (245,009) Loans Held for Sale313,917 484,730 505,530 Premises and Equipment66,361 67,679 72,932 Other Assets299,086 294,386 273,696 Total Assets4,059,997$ 3,824,673$ 4,025,567$ Estimated loan substitutions & prepayments643,954 624,392 577,503 Secured Borrowings2,385,375 2,083,777 2,285,533 Notes Payable275,000 375,000 375,000 Borrower Reimbursable Fee137,248 144,472 150,842 Other Liabilities170,351 176,690 110,941 3,611,928$ 3,404,331$ 3,499,819$ Equity448,068 420,342 525,748 Total Liabilities & Stockholders Equity4,059,997$ 3,824,673$ 4,025,567$ Outstanding Loans purchased by Community Banks8,134,909 7,968,139 7,715,700 Soundness Statistics: Cash to Assets17.63%15.49%18.95% Equity to Assets11.04%10.99%13.06% Est. loan subs & prepays as % of Loans at Other Banks 7.92%7.84%7.48% Allowance to Loans Held for Investment11.20%10.48%9.23% Total Reserves against Total Outstanding8.80%8.50%7.93% Total Liabilities 58 Reconciliation of Non-GAAP Financial Measures 59 Reconciliation of Non-GAAP Financial Measures 60 2025 Peer Group 61 Institution NameTickerCity, State Pinnacle Financial Partners, Inc.PNFPNashville, TN Associated Banc-corpASBGreen Bay, WI Bank OZKOZKLittle Rock, AR Bank United Inc.BKUHouston, TX BOK Financial Corp.BOKFTulsa, OK Cadence BankCADETupelo, MS Comerica Inc. CMADallas, TX Commerce Bancshares, Inc.CBSHKansas City, MO Cullen/Frost Bankers, Inc.CFRSan Antonio, TX F.N.B. CorporationFNBPittsburgh, PA First Horizon Corp. FHNMemphis, TN Fulton Financial CorporationFULTLancaster, PA Hancock Whitney CorporationHWCGulfport, MS Prosperity Bancshares, Inc.PBHouston, TX Simmons First National CorporationSFNCPine Bluff, AR South State CorporationSSBWinter Haven, FL Synovus Financial Corp.SNVColumbus, GA UMB Financial CorporationUMBFKansas City, MO United Bankshares Inc. UBSICharleston, WV Valley National BancorpVLYNew York, NY Wintrust Financial CorporationWTFCRosemont, IL Zions Bancorp. NAZIONSalt Lake City, UT Investor Call THIRD QUARTER 2025 M. TERRY TURNER, PRESIDENT AND CEO HAROLD R. CARPENTER, EVP AND CFO 62

Investor Call SECOND QUARTER 2025 JULY 16, 2025 Time: 8:30 AM CT Webcast: www.pnfp.com (investor relations) M. TERRY TURNER, PRESIDENT AND CEO HAROLD R. CARPENTER, EVP AND CFO Safe Harbor Statements Forward Looking Statements All statements, other than statements of historical fact, included in this presentation, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The words "expect," "aim," "anticipate," "intend," "may," "should," "plan," "looking for," "believe," "seek," "estimate" and similar expressions are intended to identify such forward-looking statements, but other statements not based on historical information may also be considered forward-looking statements. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could cause the actual results to differ materially from the statements, including, but not limited to:(i) deterioration in the financial condition of borrowers of Pinnacle Bank and its subsidiaries or BHG, including as a result of persistent elevated interest rates, the negative impact of inflationary pressures and challenging and uncertain economic conditions on our and BHG's customers and their businesses, resulting in significant increases in loan losses and provisions for those losses and, in the case of BHG, substitutions; (ii) fluctuations or differences in interest rates on loans or deposits from those that Pinnacle Financial is modeling or anticipating, including as a result of Pinnacle Bank's inability to better match deposit rates with the changes in the short-term rate environment, or that affect the yield curve; (iii) the impact of U.S. and global economic conditions, trade policies and tensions, including changes in, or the imposition of, tariffs and/or trade barriers and the economic impacts, volatility and uncertainty resulting therefrom, and geopolitical instability; (iv) the sale of investment securities in a loss position before their value recovers, including as a result of asset liability management strategies or in response to liquidity needs; (v) adverse conditions in the national or local economies including in Pinnacle Financial's markets throughout the Southeast region of the United States,particularly in commercial and residential real estate markets; (vi) the inability of Pinnacle Financial, or entities in which it has significant investments, like BHG, to maintain the long-term historical growth rate of its, or such entities', loan portfolio; (vii) the ability to grow and retain low-cost core deposits and retain large, uninsured deposits, including during times when Pinnacle Bank is seeking to limit the rates it pays on deposits or uncertainty exists in the financial services sector; (viii) changes in loan underwriting, credit review or loss reserve policies associated with economic conditions, examination conclusions, or regulatory developments; (ix) effectiveness of Pinnacle Financial's asset management activities in improving, resolving or liquidating lower-quality assets; (x) the impact of competition with other financial institutions, including pricing pressures and the resulting impact on Pinnacle Financial’s results, including as a result of the negative impact to net interest margin from elevated deposit and other funding costs; (xi) the results of regulatory examinations of Pinnacle Financial, Pinnacle Bank or BHG, or companies with whom they do business; (xii) BHG's ability to profitably grow its business and successfully execute on its business plans; (xiii) risks of expansion into new geographic or product markets; (xiv) any matter that would cause Pinnacle Financial to conclude that there was impairment of any asset, including goodwill or other intangible assets; (xv) the ineffectiveness of Pinnacle Bank's hedging strategies, or the unexpected counterparty failure or hedge failure of the underlying hedges; (xvi) reduced ability to attract additional financial advisors (or failure of such advisors to cause their clients to switch to Pinnacle Bank), to retain financial advisors (including as a result of the competitive environment for associates) or otherwise to attract customers from other financial institutions; (xvii) deterioration in the valuation of other real estate owned and increased expenses associated therewith; (xviii) inability to comply with regulatory capital requirements, including those resulting from changes to capital calculation methodologies, required capital maintenance levels or regulatory requests or directives, particularly if Pinnacle Bank's level of applicable commercial real estate loans were to exceed percentage levels of total capital in guidelines recommended by its regulators; (xix) approval of the declaration of any dividend by Pinnacle Financial's board of directors; (xx) the vulnerability of Pinnacle Bank's network and online banking portals, and the systems of parties with whom Pinnacle Bank contracts, to unauthorized access, computer viruses, phishing schemes, spam or ransomware attacks, human error, natural disasters, power loss and other security breaches; (xxi) the possibility of increased compliance and operational costs as a result of increased regulatory oversight (including by the Consumer Financial Protection Bureau), including oversight of companies in which Pinnacle Financial or Pinnacle Bank have significant investments, like BHG, and the development of additional banking products for Pinnacle Bank's corporate and consumer clients; (xxii) Pinnacle Financial's ability to identify potential candidates for, consummate, and achieve synergies from, potential future acquisitions; (xxiii) difficulties and delays in integrating acquired businesses or fully realizing costs savings and other benefits from acquisitions; (xxiv) the risks associated with Pinnacle Bank being a minority investor in BHG, including the risk that the owners of a majority of the equity interests in BHG decide to sell the company or all or a portion of their ownership interests in BHG (triggering a similar sale by Pinnacle Bank); (xxv) changes in state and federal legislation, regulations or policies applicable to banks and other financial service providers, like BHG, including regulatory or legislative developments; (xxvi) fluctuations in the valuations of Pinnacle Financial's equity investments and the ultimate success of such investments; (xxvii) the availability of and access to capital; (xxviii) adverse results (including costs, fines, reputational harm, inability to obtain necessary approvals and/or other negative effects) from current or future litigation, regulatory examinations or other legal and/or regulatory actions involving Pinnacle Financial, Pinnacle Bank or BHG; and (xxix) general competitive, economic, political and market conditions. Throughout this document, numbers may not foot due to rounding. Additional factors which could affect the forward looking statements can be found in Pinnacle Financial's Annual Report on Form 10-K for the year ended December 31, 2024, and subsequently filed Quarterly Reports on Form 10-Q and Current Reports on Form 8-K filed with the SEC and available on the SEC's website at http://www.sec.gov. Pinnacle Financial disclaims any obligation to update or revise any forward-looking statements contained in this presentation, which speak only as of the date hereof, whether as a result of new information, future events or otherwise. 2 Safe Harbor Statements Non-GAAP Financial Matters This presentation contains certain non-GAAP financial measures, including, without limitation, total revenues, net income to common shareholders, earnings per diluted common share, revenue per diluted common share, PPNR, efficiency ratio, noninterest expense, noninterest income and the ratio of noninterest expense to average assets, excluding in certain instances the impact of expenses related to other real estate owned, gains or losses on sale of investment securities, gains associated with the sale-leaseback transaction completed in the second quarter of 2023, losses on the restructuring of certain bank owned life insurance (BOLI) contracts, charges related to the FDIC special assessment, income associated with the recognition of a mortgage servicing asset in the first quarter of 2024, fees related to terminating agreement to resell securities previously purchased and professional fees associated with capital optimization initiatives in the second quarter of 2024 and other matters for the accounting periods presented. This presentation may also contain certain other non-GAAP capital ratios and performance measures that exclude the impact of goodwill and core deposit intangibles associated with Pinnacle Financial's acquisitions of BNC, Avenue Bank, Magna Bank, CapitalMark Bank & Trust, Mid-America Bancshares, Inc., Cavalry Bancorp, Inc. and other acquisitions which collectively are less material to the non-GAAP measure as well as the impact of Pinnacle Financial's Series B Preferred Stock. The presentation of the non-GAAP financial information is not intended to be considered in isolation or as a substitute for any measure prepared in accordance with GAAP. Because non-GAAP financial measures presented in this presentation are not measurements determined in accordance with GAAP and are susceptible to varying calculations, these non-GAAP financial measures, as presented, may not be comparable to other similarly titled measures presented by other companies. Pinnacle Financial believes that these non-GAAP financial measures facilitate making period-to-period comparisons and are meaningful indications of its operating performance. In addition, because intangible assets such as goodwill and the core deposit intangible, and the other items excluded each vary extensively from company to company, Pinnacle Financial believes that the presentation of this information allows investors to more easily compare Pinnacle Financial's results to the results of other companies. Pinnacle Financial's management utilizes this non-GAAP financial information to compare Pinnacle Financial's operating performance for 2025 versus certain periods in 2024 and to internally prepared projections. 3 NCOs Pre-COVID* PNFP’s Median Quarterly Performance was 0.12% NPA/ Loans & ORE Classified Asset Ratio Shareholder Value Dashboard 2Q25 summary results of key GAAP measures 4 PNFP’s Median Quarterly Performance of 0.26% PNFP’s Median Quarterly Performance of 0.17% PNFP’s Median Quarterly Performance of 4.0% Total RevenuesFD EPS Net Income Available to Common Shareholders Total Loans (millions) Total Deposits (in millions) Book Value per Common Share Pre-COVID* PNFP’s Median Quarterly Performance was 0.54% Pre-COVID* PNFP’s Median Quarterly Performance was 13.5% Classified Asset Ratio Pre-COVID* PNFP’s Median Quarterly Performance was 13.5% NCOs NPA/ Loans & ORE Pre-COVID* PNFP’s Median Quarterly Performance was 0.54% Tangible Book Value per Share**Total Core Deposits (millions) Total Loans (millions) Adjusted Pre-Tax Pre-Provision Net Income* FD EPS* Total Revenues* Shareholder Value Dashboard 2Q25 summary results of key non-GAAP measures 5 PNFP’s Median Quarterly Performance of 0.26% PNFP’s Median Quarterly Performance of 0.17% PNFP’s Median Quarterly Performance of 4.0% *: excluding gains and losses on sales of investment securities, recognition of a mortgage servicing asset, loss on BOLI restructuring, gain on the sale of fixed assets as a result of a sale-leaseback transaction, ORE expense (income), FDIC special assessment, and fees related to terminating agreement to resell securities previously purchased and professional fees associated with capital optimization initiatives. PPNR represents pre-tax, pre-provision net revenues. **: excluding goodwill, core deposit and other intangible assets Note: For a reconciliation of these Non-GAAP financial measures to the most directly comparable GAAP measures, see slides 50-51. CAGR 11.0% CAGR 10.9% CAGR 4.9% CAGR 7.1% CAGR 10.2% CAGR 11.1% Pre-COVID* PNFP’s Median Quarterly Performance was 0.12% Pinnacle Has Been a Top-Quartile Top- and Bottom-Line Performer 6 Note: Company filings, S&P Global Market Intelligence and FDIC. (1) Growth rates reflects LTM Q1’15 through LTM Q1’25. Long Track Record of Peer-Leading NII and Core Deposit Growth... 7 Note: Company filings, S&P Global Market Intelligence and FDIC. (1)Growth rate reflects LTM Q1’15 through LTM Q1’25. (2)Growth rate reflects quarter average for Q1’15 and Q1’25. (3)Growth rate reflects non-time deposits for Q1’15 and Q1’25. Core deposits defined as total deposits less CDs. Including Outperformance During the Current Rate Cycle... 8 Note: Company filings, S&P Global Market Intelligence and FDIC. (1)Growth rate reflects LTM Q2’23 through LTM Q1’25. (2)Growth rate reflects quarter average for Q2’23 and Q1’25. (3)Growth rate reflects non-time deposits for Q2’23 and Q1’25. Core deposits defined as total deposits less CDs. 2020-24 Vintage Hiring Should Deliver Continued Growth that Outperforms Peers 9 (*) Figures illustratively reflect current average portfolio sizes by RM tenure as of Q3’24 applied to historical annual RM hires as noted in slide 49. Assumes 100% loan/deposit ratio, consistent with Pinnacle’s observed RM performance, and an illustrative 5% attrition. 90 120 147 107 161 2020Y2021Y2022Y2023Y2024Y Annual Revenue Producer Hires Record hiring year 12% CAGR – ~$1 ~$3 ~$7 ~$10 ~$14 ~$18 ~$18 ~$19 2021Y2022Y2023Y2024Y2025Y2026Y2027Y2028Y2029Y Illustrative Total Portfolio for RM Hires 2020 – 2024 ($bn)* 10 Attracting Talent and Executing the Service Model are Key to Sustainable Growth PNFP dominates virtually all key drivers of satisfaction in its 8 state footprint Key DriverPeer Comparison Market Leader Overall Satisfaction with Relationship Manager PNFP Timely Follow-Up on Requests PNFP Provision of Proactive Advice & Innovative Ideas PNFP Knowledge of Cash Management PNFP Coordination of the Bank's Product Specialist PNFP Frequency of Visits1stCitB&T Understanding of Your Industry PNFP Key DriverPeer Comparison Market Leader Ease of Doing BusinessPNFP Bank You Can TrustPNFP Values Long-Term Relationships PNFP Data and Analytics- Driven Insights PNFP International Capabilities PNFP Treasury Management Capability PNFP Treasury Management Service Level PNFP Overall Digital Experience PNFP Talent Service Model Note: Products, services, and competitive evaluations among lead relationships. Evaluations are based on a 5-point scale, from "5" excellent to "1" poor. Question: Using a 5-point scale from "1" poor to "5" excellent, how do you rate your lead provider on the following items: values long-term relationships; international capabilities; ease of doing business; is a bank you can trust; data analytics-driven insights? Source: Coalition Greenwich Voice of Client – 2025 Market Tracking Program (Pinnacle Financial - Footprint - $1-500MM - Q1 2025 R4Q - Banking). 102030405060708090 102030405060708090 102030405060708090 102030405060708090 102030405060708090 102030405060708090 102030405060708090 Client Peer Group RangePeer Group Mean 102030405060708090 102030405060708090 102030405060708090 102030405060708090 102030405060708090 102030405060708090 102030405060708090100 102030405060708090 Market Share Gains Continued to Drive Loan Growth Linked-quarter annualized growth in average loans was 10.3% in Q2 11 2Q25 Highlights •EOP loans increased 10.7% linked-quarter annualized compared to 7.3% in 1Q25 and 13.7% in 4Q24 •C&I loan growth accelerated to 21.9% linked-quarter annualized •Other loans, including commercial real estate loans increased 3.5% linked-quarter annualized •CRE decline offset by retention of ARMs, increasing consumer loan growth to 15.2% linked-quarter annualized •2Q25 loan origination rates remained well above current portfolio yields *Excludes leases, credit cards and loans HFS; loan yields exclude tax equivalent income adjustments; loan yields consider contractual floors for individual loans but exclude the impact of other loan interest rate derivative products. 5.14% 5.00% 4.90% 4.85% 4.75% 4.73% 4.73% 4.73% 4.40% 4.50% 4.60% 4.70% 4.80% 4.90% 5.00% 5.10% 5.20% $0 $200 $400 $600 $800 $1,000 $1,200 3Q254Q251Q262Q263Q264Q261Q272Q27 Fixed Rate Loan Maturities / Cash flow FX Loan CFLWMat Rate $22,257 $22,493 $22,525 $22,848 $23,180 $22,986 $23,226 $23,849 $25,397 $27,021 $28,402 $29,634 $30,882 $31,530 $32,372 $33,042 $33,517 $34,082 $34,981 $36,042 $36,968 6.26% 3.00% 3.50% 4.00% 4.50% 5.00% 5.50% 6.00% 6.50% 7.00% $12,500 $17,500 $22,500 $27,500 $32,500 $37,500 Loan Yields Average Loans (millions) Average Loan Growth and Yields 2Q25 Highlights •Total average deposits, excluding brokered, increased 2.8% linked-quarter annualized •EOP noninterest-bearing deposits increased 6.3% linked-quarter annualized, remaining stable at 19.2% of total deposits •Total loan and deposit rate betas changed slightly from prior quarter as EOP loan and deposit WAC decreased 3bps each •Deposit WAC increase driven by mix shift towards higher cost >$250k CDs; overall pricing generally stable Deposit Growth Remains a Key Strategic Focus for Our Firm Linked-quarter annualized growth in average deposits was 11.3% in Q2 12 Jun. 30, 2024 EOP Rates Jun. 30, 2024 % of Totals Mar. 31, 2025 EOP Rates Mar. 31, 2025 % of Totals Jun. 30, 2025 EOP Rates Jun. 30, 2025 % of Totals Noninterest bearing---19.9%---19.1%---19.2% Interest-bearing: Rate sheet 1.56%15.8%0.89%14.2%0.92%13.5% Negotiated 3.67%12.9%2.57%5.3%2.50%4.0% Indexed 4.70%39.3%3.67%51.7%3.67%52.3% CDs 4.42%12.1%3.86%9.6%3.81%11.0% Total IBD 3.87%80.1%3.13%80.9%3.17%80.8% Total Deposits 3.10%100.0%2.53%100.0%2.56%100.0% Cumulative Betas (EOP rate comparisons) “Up Rate Cycle” Dec. 31, 2021 through Sept. 18, 2024 “Down Rate Cycle” Sept. 18, 2024 through June 30, 2025 Fed funds effective rate, at EOP0.08% to 5.33%5.33% to 4.33% Variable Rate Loans 84.6%70.1% Fixed Rate Loans 15.0%-21.0% Total Loans 59.1%39.4% Int Checking, Savings, Money Market 68.5%70.1% Time Deposits 74.8%61.4% Total Interest-Bearing Deposits 69.7%69.9% Total Deposits 56.3%53.7% $20,680 $24,807 $26,352 $27,193 $27,621 $28,014 $28,740 $30,034 $31,539 $31,484 $33,108 $34,177 $35,292 $36,356 $38,078 $38,516 $38,996 $39,454 $40,101 $41,682 $43,019 $44,234 2.58% 0.00% 0.25% 0.50% 0.75% 1.00% 1.25% 1.50% 1.75% 2.00% 2.25% 2.50% 2.75% 3.00% 3.25% $10,000 $15,000 $20,000 $25,000 $30,000 $35,000 $40,000 $45,000 Deposit Costs Average Deposits (millions) Average Deposit Growth Avg. DepositsCost of Deposits 2Q25 Highlights •Net interest income growth accelerated to 16.6% linked-quarter annualized on solid earning asset growth and modest NIM expansion •Net interest margin has remained within a 3.21%-3.23% range for four consecutive quarters during a very volatile interest rate environment •Average volumes for securities increased by $307 million which was partially offset by $103 million decrease in Fed funds, cash and repos •Current forecast assumes one 25bp Fed funds rate decreases in October 2025 13 NIM Increases Modestly Along with Solid Volume Growth Net interest income grew at a mid-teen year-over-year pace for the third consecutive quarter 4.44% 2.00% 2.25% 2.50% 2.75% 3.00% 3.25% 3.50% 3.75% 4.00% 4.25% 4.50% 4.75% $3,500 $4,000 $4,500 $5,000 $5,500 $6,000 $6,500 $7,000 $7,500 $8,000 $8,500 $9,000 $9,500 3Q204Q201Q212Q213Q214Q211Q222Q223Q224Q221Q232Q233Q234Q231Q242Q243Q244Q241Q252Q25 Average Quarterly Yield Average Balances ($ in mil.) Quarterly Avg. Securities Avg. SecuritiesYield 4.40% 0.00% 0.50% 1.00% 1.50% 2.00% 2.50% 3.00% 3.50% 4.00% 4.50% 5.00% 5.50% $0 $500 $1,000 $1,500 $2,000 $2,500 $3,000 $3,500 $4,000 $4,500 $5,000 3Q204Q201Q212Q213Q214Q211Q222Q223Q224Q221Q232Q233Q234Q231Q242Q243Q244Q241Q252Q25 Average Quarterly Yield Average Balances ($ in mil.) Quarterly Avg. FFS, IB Cash & Repos Avg. FFS, IB Cash & ReposYield 3.23% 2.75% 3.00% 3.25% 3.50% 3.75% $175 $200 $225 $250 $275 $300 $325 $350 $375 $400 3Q204Q201Q212Q213Q214Q211Q222Q223Q224Q221Q232Q233Q234Q231Q242Q243Q244Q241Q252Q25 Net Interest Margin Net Interest Income ($ in mil.) Net Interest Income & NIM NIINIM 14 2Q25 Highlights •Most credit metrics continued to perform well in comparison to long-term historical averages •Past dues, Classified Assets, Potential Problem loans which are historically strong indicators of future credit performance at or near multi-year lows •ACL decreased to 1.14% of total loans 0.17% 0.01% 0.13% 0.27% 0.20% NCOs 0.27% 0.09% 0.15% 0.30% 0.44% NPA/ Loans & ORE 0.07% 0.11% 0.14% 0.16% 0.14% Past Dues as a % of Total Loans 0.74% 0.32%0.32% 0.18% 0.12% Potential Problem Loans 6.8% 2.9% 3.3% 3.99% 3.9% Classified Asset Ratio Credit Performance Remains Strong in 2Q25 No significant change in credit metrics between 2Q25 and 1Q25 $0 $100 $200 $300 $400 20212022202320242025 YTD $0.0 $2.0 $4.0 $6.0 20212022202320242025 YTD •BHG provides loans in as little as 3 days from application to funding. •A truly diversified funding strategy creates ample liquidity to fund loan originations, through: •BHG’s proprietary online auction platform encompassing over 1,690 unique Banks historically. •Programmatic sponsorship in the ABS market and institutional whole loan sale relationships. Wall Street continues to demand BHG product with ten securitizations accomplished since 2020. •BHG distinguishes itself by: •Targeting borrowers through direct mail and other sophisticated marketing techniques using a wide range of proprietary marketing tools. •Underwriting applications through proprietary risk models, combining both credit & behavioral data points. BHG Financial Overview Strong YTD earnings of $96M supported by significant growth in originations and solid credit performance 15 Earnings Before Taxes ($mm) Origination Volume ($bn) Source: BHG Internal Data 2Q25 Results Provide for Continued Optimism in FY2025 Changes to current outlook trend to the positive, in our view 16 Note: 2025 outlook is based on current facts and circumstances. Our outlook is subject to change based on numerous factors which may require us to change our outlook at any time. These factors may include, among the other risks described herein, changes in operating strategy, balance sheet positioning or macroeconomic factors such as significant changes in interest rates from those we are modeling. See slide 2 of these materials for more information. Current 2025 Outlook (as of July 15, 2025)2024 Results Y/Y EOP Loan Growth We are modifying our estimate that our EOP loan growth for 2025 will now be 9-11% growth over 2024 year-end balances. Y/Y EOP growth of 8.6% Y/Y EOP Deposit Growth We continue to estimate that EOP deposit growth for 2025 will be 7-10% growth over 2024 year-end balances. Y/Y EOP growth of 11.2% Net interest income We are modifying our estimate that our net interest income growth outlook will now be 12-13% year- over-year growth. Additionally, current estimate is that our 3Q25 net interest margin will increase modestly from our 2Q25 net interest margin result. Y/Y net interest income growth of 8.2% 2024 Net interest margin result was 3.16% Fee income We are increasing our estimate that fee growth for 2025 over 2024 should now approximate 12-15% growth for noninterest income excluding the impact of losses on the sale of investment securities and the recognition of an $11.8 million mortgage servicing gain in 2024. Y/Y growth of 15.2% (*) Expenses We are modifying our estimate for total expenses excluding the impact of ORE costs for 2025 to approximate a range of $1.145 billion to $1.155 billion. We are also increasing our anticipated target payout for the annual cash incentive plan from 100% at March 31, 2025 to 115% June 30, 2025. 2024 Adjusted NIE was $999 million (#) Net loan charge-offs and provisioning We are modifying our estimate for net charge-offs in 2025 as a percentage of average loans to approximate a range of 0.18% to 0.20%. We are also modifying our estimate for our loan loss provision as a percentage of average loans to be a range of 0.24% to 0.25%. Furthermore, we estimate that ACL as a percentage of total loans will remain consistent with Q2 levels throughout the remainder of 2025, but this could change should macro factors warrant. Net loan charge-offs of 0.23% Provision to avg. loans of 0.36% ACL of 1.17% (*) Excludes losses on the sale of investment securities and, in the case of 2024, the recognition of a $11.8 million mortgage servicing gain, and, in the case of 2023, the $85.7 million gain on the sale of fixed assets because of the sale-leaseback transaction and $7.2 million in BOLI restructuring charges. (#) Excluding the impact of ORE costs, the $7.25 million FDIC special assessment and $28.4 million in fees related to terminating the agreement to resell securities previously purchased and professional fees associated with capital optimization initiatives Supplemental Information Slide # •Balance Sheet 18 •Income Statement 39 •BHG 43 •Non-GAAP Reconciliation 50 •Peer Group 52 17 Note: Strategic expansion volumes include certain loans that are recorded in the various geographies (as detailed on slide 20) but for illustration purposes above are included as Strategic Expansion loans due to the relationship managers being assigned to a specialty lending unit. 18 Net Loan Growth – 2Q25 – Strategic Decisions: •Strategic Expansion - $785 million •Jacksonville, Atlanta, DC, Alabama, Kentucky, Franchise Finance, Equipment Finance •Legacy Recruiting Impact - $287 million •New RMs hired in past 2.5 years other than in our strategic market expansions •Legacy market – Reduction of $104 million •RMs in legacy markets such as, Nashville, Charlotte, Raleigh, Charleston, Memphis, Chattanooga, etc. that have been with Pinnacle greater than three years Balance Sheet – Loan Portfolio Balance Sheet – Loan Portfolio Segments ($ in millions)Amts. 2Q25 % 2Q25 Amts. 1Q25 % 1Q25 Amts. 2Q24 % 2Q24 Amts. 2Q23 % 2Q23 C&I $14,905.340.2%$14,131.339.1%$12,328.636.5%$10,983.835.3% CRE – Owner Occ. 4,744.812.8%4,594.412.7%4,217.412.5%3,845.412.3% Total C&I & O/O CRE $19,650.153.0%$18,725.751.8%$16,546.049.0%$14,829.247.6% CRE – Investment 5,891.715.8%5,977.616.5%5,998.317.8%5,682.718.2% CRE – Multifamily and other 2,393.76.5%2,360.56.5%2,185.86.5%1,488.24.8% C&D and Land 3,412.19.2%3,525.99.8%3,621.610.7%3,904.812.5% Total CRE & Construction $11,697.531.5%$11,864.032.8%$11,805.735.0%$11,075.735.5% Consumer RE 5,163.813.9%4,977.413.8%4,874.814.4%4,692.715.1% Consumer and other 593.81.6%569.61.6%542.61.6%555.71.8% Total Other $5,757.615.5%$5,547.015.4%$5,417.416.0%$5,248.416.9% Total Loans $37,105.2100.0%$36,136.7100%$33,769.1100.0%$31,153.3100.0% 19 Note: Percentages noted in red text represent year-over-year growth rates. ($ in millions) TOTAL PINNACLEC&I & O/O CRECRE & CONSTRUCTIONOTHER LOANS Amts. 2Q25 Amts. 2Q24 Amts. 2Q25 Amts. 2Q24 Amts. 2Q25 Amts. 2Q24 Amts. 2Q25 Amts. 2Q24 Nashville $8,600.1$8,596.5$4,114.1$3,802.7$2,508.9$2,942.1$1,977.1$1,851.7 Knoxville 2,157.62,038.21,162.41,050.2549.9558.9445.3429.1 Chattanooga 2,421.82,105.01,478.01,283.9483.5386.7460.3434.4 Memphis 2,362.52,362.01,153.31,110.2785.4856.0423.8395.8 Huntsville 269.3128.9126.369.6119.138.623.920.7 Birmingham 875.4644.5751.8569.793.154.730.520.1 Bowling Green 229.4174.7173.7134.847.436.58.33.4 Louisville 221.7156.2210.7154.28.02.03.0- Total Tennessee /AL /KY $17,137.8$16,206.0$9,170.3$8,175.3$4,595.3$4,875.5$3,372.2$3,155.2 Greensboro/High Point $2,217.4$2,289.7$687.0$723.7$1,178.3$1,227.5$352.1$338.5 Charlotte 3,473.43,428.1882.2830.62,010.02,008.2581.2589.3 Raleigh 1,714.41,729.7350.6341.21,187.51,233.7176.3154.8 Charleston 1,238.81,106.8299.7207.8646.2625.5292.9273.5 Greenville 587.9543.8207.0173.7310.7299.270.270.9 Roanoke 782.2748.6443.3345.0210.4282.5128.5121.1 Washington, D.C. 887.5493.3696.0325.7162.2154.829.312.8 SBA Lending Team 278.4221.7264.4211.410.98.53.11.8 North Florida 208.320.1162.08.820.6-25.711.3 Total Carolina /VA /FL $11,388.3$10,581.8$3,992.2$3,167.9$5,736.8$5,839.9$1,659.3$1,574.0 Georgia $1,793.8$1,649.2$704.2$690.3$973.6$848.7$116.0$110.2 Specialty Lending 3,756.92,916.73,340.62,563.0101.8101.2314.5252.5 Other 3,028.42,415.42,442.81,949.5290.0140.4295.6325.5 Total $37,105.2$33,769.1$19,650.1$16,546.0$11,697.5$11,805.7$5,757.6$5,417.4 Balance Sheet – Loan Portfolio – Market Segmentation Note: Percentages noted in red text represent year-over-year growth rates. 20 Balance Sheet – Loan Portfolio – CRE Segmentation 21 ($ in millions)Total NOO and MultifamilyTotal ConstructionTotal NOO and Construction Amts. 2Q25 Amts. 1Q25 Amts. 2Q24 Amts. 2Q25 Amts. 1Q25 Amts. 2Q24 Amts. 2Q25 Amts. 1Q25 Amts. 2Q24 Multifamily $2,393.7$2,360.5$2,187.3$1,484.8$1,574.7$1,592.1$3,878.5$3,935.2$3,779.4 Warehouse 1,850.21,895.71,777.2378.1392.5503.52,228.32,288.22,280.7 Retail 1,505.11,524.71,569.3160.6123.7165.51,665.71,648.41,734.8 Office 848.2817.7919.4111.4125.5114.8959.6943.21,034.2 1-4 Family ---668.9674.7693.5668.9674.7693.5 Hospitality 611.8615.8633.942.234.8-654.0650.6633.9 Sr. Housing & Care 478.0531.0567.47.1-6.4485.1531.0573.8 Medical 368.9362.3333.630.528.138.4399.4390.4372.0 Other 229.5230.4196.0528.5571.9507.4758.0802.3703.4 Total $8,285.4$8,338.1$8,184.1$3,412.1$3,525.9$3,621.6$11,697.5$11,864.0$11,805.7 Balance Sheet – Loan Portfolio Lines of Credit ($s in millions) 12/31/202303/31/202406/30/202409/30/202412/31/20243/31/20256/30/2025 Linked Qtr. Change CRE – Investment & Construction Net Active Balance$6,517.26$6,835.87$6,539.76$6,465.36$6,577.64$6,471.50$6,308.09($163.41) Net Available Credit4,273.683,793.183,455.513,057.263,050.573,196.133,419.86223.73 Total Exposure10,790.9410,629.059,995.279,522.629,628.219,667.639,727.9560.32 % Funded60.4%64.3%65.4%67.9%68.3%66.9%64.8%(2.1%) C&I and O/O CRE Net Active Balance$6,861.95$6,882.43$6,983.88$7,203.27$7,467.74$7,723.80$8,615.09$891.29 Net Available Credit8,562.028,786.858,851.119,120.869,684.1610,299.3310,673.25373.92 Total Exposure15,423.9715,669.2815,834.9916,324.1317,151.9018,023.1319,288.341,265.21 % Funded44.5%43.9%44.1%44.1%43.5%42.9%44.7%1.8% Consumer Net Active Balance$1,617.89$1,613.01$1,691.56$1,730.28$1,738.57$1,775.34$1,828.18$52.84 Net Available Credit2,503.722,552.102,566.912,593.112,628.922,672.662,707.8035.14 Total Exposure4,121.614,165.114,258.474,323.394,367.494,448.004,535.9887.98 % Funded39.3%38.7%39.7%40.0%39.8%39.9%40.3%0.4% Totals Net Active Balance$14,997.10$15,331.31$15,215.20$15,398.91$15,783.95$15,970.64$16,751.36$780.72 Net Available Credit15,339.4215,132.1214,873.5214,771.2315,363.6516,168.1216,800.91632.79 Total Exposure30,336.5230,463.4330,088.7230,170.1431,147.6032,138.7633,552.271,413.51 % Funded49.4%50.3%50.6%51.0%50.7%49.7%49.9%0.2% 22 Balance Sheet – Loan Portfolio 23 Highlights •Over 91% of NOOCRE Portfolio is in Pinnacle’s attractive Southeastern demographic markets •Reduced construction and land development loans as a percentage of total risk-based capital to 61.8% in 2Q25 •Remain cautious on 1-4 single family residential guidance lines while open to strategic opportunities in Pinnacle’s newer markets •An elevated cost environment continues to challenge projects’ return on cost and is suppressing overall new development pipelines from historical highs •An active senior debt market combined with limited number of new opportunities has resulted in a highly competitive landscape 85.9% 84.2% 70.5% 61.8% 249.6% 259.0% 242.2% 228.6% 0.0% 50.0% 100.0% 150.0% 200.0% 250.0% 300.0% NOOCRE / Construction 100/300 Ratio Trends 100 Ratio - Target < 70%300 Ratio - Target < 225% Land / Spec A&D Office Hospitality Student Housing /Senior Housing 1-4 Resi Spec Properties Self Storage Medical Office Retail – Grocery Store Anchored Retail – Build to Suit 1-4 Resi. Pre-Sold Multifamily Industrial/Warehouse CRE Appetite by Segment 10.5% 5.0% 4.4% 2.5% 1.8% 1.8% 1.3% 1.0% 0.0% 2.0% 4.0% 6.0% 8.0% 10.0% 12.0% MultifamilyWarehouseRetailProfessional Office 1-4 FamilyHospitalitySr. Housing & Skilled Nursing Medical Office 2Q25 NOOCRE & Construction Balances / Total Loans $(0.3) $(0.3) $(1.2) $(0.1) $(0.4) $2.0 $1.1 $0.3 $12.6 $(0.0) $0.1 0.00% -0.01% -0.03% -0.02% -0.02% 0.07% 0.05% 0.04% 0.11% 0.00% 0.00% -0.04% -0.02% 0.00% 0.02% 0.04% 0.06% 0.08% 0.10% 0.12% $(5.0) $- $5.0 $10.0 $15.0 Dec 22Mar 23Jun 23Sep 23Dec 23Mar 24Jun 24Sep 24Dec 24Mar 25Jun 25 PNFP CRE & Construction NCO $s (millions) and NCO % NCO ($s)NCO % 24 •Continued strong asset quality with minimal past due accruing loans and 97.3% of portfolio graded pass; incremental increase in nonaccrual due to one Class B multifamily loan in during the first six months of 2025 •Softness in investor demand for NOOCRE loans due to evolving market conditions continue to keep new construction starts down •Strong equity positions in the Commercial Real Estate portfolio help protect against slower stabilization periods Values weighted by commitment LTV = current commitment as of 06/30/25 divided by appraised value from origination or renewal Metrics represent risk graded loans that cover approximately 98% of CRE & Construction Loans in the property types shown Balance Sheet – Asset Quality Key Property Metrics PropertyAll PropertiesConstruction TypesLTV %DSC RatioLTC % Multifamily49.5%1.4564.1% Warehouse51.7%1.6263.4% Retail53.7%1.6568.6% Prof. Office52.6%1.6564.5% Hospitality51.3%1.8663.2% 0.01% 0.01% 0.01% 0.01% 0.01%0.01% 0.01% 0.01% 0.01% 0.00% 0.01% 0.02% 0.01% 0.05% 0.23% 0.22% 0.22% 0.16% 0.15% 0.12% 0.19% 0.18% 0.01% 0.00% 0.00% 0.01% 0.13% 0.16% 0.12% 0.12% 0.13% 0.20% 0.19% Dec 22Mar 23Jun 23Sep 23Dec 23Mar 24Jun 24Sep 24Dec 24Mar 25Jun 25 PNFP CRE & Construction Accruing PD, Classified, and Non-Accruals Past Dues (Accruing)Classified LoansNon-Accrual Multifamily Highlights (DRAFT) 25 Balances include CRE & Construction Note: Balances include NOOCRE & Construction Balance Sheet – Loan Portfolio Multifamily Highlights •95.2% is located within the PNFP footprint •47.8% are MF Construction loans (by commitment): oAverage number of units 279 ($20MM+ Construction) oTypically, 4 & 5-star, garden style apartments oLocated in core urban and suburban Southeastern markets with limited amount of central business district projects •Maturities will create a downward draft on CRE balances. The fluctuation of the 10-Yr may slow down potential pay-offs but debt markets continue to be plentiful with attractive refinance structures •$451,000 past due balances; 95.4% of risk rated loans are pass •20 loans at June 30, 2025 with commitments greater than $40.0mm; Largest loan balance at June 30, 2025 was $50.0mm Loan Size (by Comm.) Loan Count% of Balances% of CommitmentsLoan Age (Yrs) Unit Count (Avg) Construction Below $1MM50.0%0.1%1.6122 $1MM - $5MM60.2%0.3%1.048 $5MM - $10MM30.5%0.5%2.450 $10MM - $20MM112.0%3.7%1.4216 $20MM - $40MM4724.9%31.5%2.2265 Above $40MM1210.7%11.8%2.5293 Construction Subtotal8438.3%47.8%2.0244 Term Below $1MM1451.3%1.1%6.620 $1MM - $5MM683.8%3.3%563 $5MM - $10MM152.5%2.3%4.6112 $10MM - $20MM269.0%7.6%3.5178 $20MM - $40MM4536.2%30.5%3.8338 Above $40MM88.9%7.4%3.4300 Term Subtotal30761.7%52.2%5.4152 Grand Total391100.0%100.0%4.6179 12.8% 10.1% 9.4% 8.6% 7.7% 4.5% 4.4% 3.7% 3.5% 3.1% 0.0% 2.0% 4.0% 6.0% 8.0% 10.0% 12.0% 14.0% Charlotte NC Nashville TN Raleigh NC Orlando FL Atlanta GA Charleston SC Austin TX Knoxville TN Myrtle Beach SC Chattanooga TN 2Q25 Multifamily Balances by Property Location 5.5% 3.1% 9.5% 21.4% 37.0% 23.6% 0.0%5.0%10.0%15.0%20.0%25.0%30.0%35.0%40.0% After 2029 2029 2028 2027 2026 2025 2Q25 Multifamily Balances by Maturity Year Multifamily Highlights (DRAFT) 26 Balance Sheet – Loan Portfolio Warehouse Highlights • Industrial production primarily focuses on construction opportunities with top-tier development platforms • Conservative loan basis exhibiting an average LTV of 51.7% and an average LTC of 63.4% for construction • Maturities will create a downward draft on CRE Balances; The fluctuation of the 10-Yr may slow down potential pay-offs but debt markets continue to be plentiful with attractive refinance structures • Disciplined underwriting using un-trended rents has offset the increased costs of today’s higher rate environment • $163.0M past due balances; 99.9% of risk rated loans are pass • 8 loans with commitments greater than $35mm at June 30, 2025; Largest loan balance was $53.2MM at June 30, 2025 Loan Size (by Comm.) Loan Count% of Balances% of CommitmentsLoan Age (Yrs) Square Feet (Avg) Construction Below $1MM10.0%0.0%2.5 $1MM - $5MM110.5%0.7%1.186,866 $5MM - $10MM71.9%2.0%1.9117,524 $10MM - $20MM154.6%8.6%1.2173,542 $20MM - $35MM179.4%17.8%1.3496,362 Above $35MM00.0%0.0% Construction Subtotal5116.4%29.2%1.3256,654 Term Below $1MM1864.2%3.4%5.927,299 $1MM - $5MM11613.2%10.4%4.682,354 $5MM - $10MM166.3%5.0%4.6153,282 $10MM - $20MM2314.2%13.3%2.8207,433 $20MM - $35MM2329.2%25.2%3.2439,365 Above $35MM816.5%13.6%3.2737,063 Term Subtotal37283.6%70.8%5.0126,261 Grand Total423100.0%100.0%4.6146,554 9.8% 6.2% 5.5% 4.1% 4.0% 3.8% 3.7% 3.0%3.0% 2.9% 0.0% 2.0% 4.0% 6.0% 8.0% 10.0% 12.0% Charlotte NC Nashville TN Atlanta GA Cincinnati OH Chattanooga TN Spartanburg SC Asheville NC Indianapolis IN Winchester VA Winston- Salem NC 2Q25 Warehouse Balances by Property Location 5.5% 4.4% 10.2% 25.6% 25.2% 29.0% 0.0%5.0%10.0%15.0%20.0%25.0%30.0%35.0% After 2029 2029 2028 2027 2026 2025 2Q25 Warehouse Balances by Maturity Year Multifamily Highlights (DRAFT) 27 Balance Sheet – Loan Portfolio Professional Office Highlights •93.9% of Professional Office CRE properties are in PNFP market •The concentration in Nashville is primarily due to the participation in the Nashville Yards project (approximately 12.6% of the 35.0%) •The loan consists of 3 office towers; 2 are 100% leased to investment grade tenants with favorable leases and the third serves as PNFP’s new headquarters and is 67% leased •Granular portfolio •Represents 2.5% of total loans •Only 9 loans > $20 million o Average commitment of $30.8MM and average balance of $28.1MM o No spec construction, pre-leasing > 50% •Remaining 495 loans have an average outstanding balance of $1.39 million •LTV of 52.6%, LTC of 64.8%, Stabilized Occupancy of 87.5% •No past due balances; 97.3% of risk rated loans are pass •4 loans with commitments greater than $35mm at June 30, 2025; Largest office loan balance was $38.8mm at June 30, 2025 Loan Size (by Comm.) Loan Count% of Balances% of CommitmentsLoan Age (Yrs) Square Feet (Avg) Construction Below $1MM30.1%0.1%6.397,014 $1MM - $5MM30.6%0.8%2.682,649 $5MM - $10MM00.0%0.0% $10MM - $20MM11.7%1.6%3.8551,103 $20MM - $35MM00.0%0.0% Above $35MM26.8%8.2%5.1573,114 Construction Subtotal99.2%10.6%4.5267,413 Term Below $1MM32612.1%11.8%6.113,308 $1MM - $5MM12830.1%29.0%5.230,218 $5MM - $10MM1611.9%11.9%5.979,679 $10MM - $20MM1216.5%16.6%4.7133,827 $20MM - $35MM616.9%16.4%4.7417,455 Above $35MM13.4%3.7%7.4511,299 Term Subtotal48990.8%89.4%5.845,047 Grand Total498100.0%100.0%5.852,308 35.0% 12.6% 6.8% 6.1% 5.3% 4.7% 3.2% 2.8%2.8%2.8% 0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 30.0% 35.0% 40.0% Nashville TN Raleigh NC Charlotte NC Durham NC Charleston SC Greenville SC Greensboro NC Winston- Salem NC Seattle WA Knoxville TN 2Q25 Professional Office Balances by Property Location 10.3% 7.0% 22.3% 22.9% 29.2% 8.3% 0.0%5.0%10.0%15.0%20.0%25.0%30.0%35.0% After 2029 2029 2028 2027 2026 2025 2Q25 Professional Office Balances by Maturity Year 45.3% 30.4% 23.3% 1.0% 0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 30.0% 35.0% 40.0% 45.0% 50.0% LTV < 60%LTV 60% to 70%LTV 70% to 80%LTV ≥ 80% 2Q25 Single Tenant Office LTVs 83.4% 7.0% 9.1% 0.4% 0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0% 70.0% 80.0% 90.0% LTV < 60%LTV 60% to 70%LTV 70% to 80%LTV ≥ 80% 2Q25 Multi-Tenant Office LTVs Multifamily Highlights (DRAFT) 28 Balance Sheet – Loan Portfolio Professional Office Highlights Avg Bal: $2.6 MM Avg Bal: $5.8 MM Avg Bal: $3.1 MM Avg Bal: $3.0 MM Avg Bal: $2.2 MM Avg Bal: $3.6 MM Avg Bal: $3.1 MM Avg Bal: $0.9 MM 6% 9% 31% 54% 2Q25 Professional Office Portfolio by Type Office Condo Mixed Use Office Single Tenant Multi-Tenant Total Allowance for Credit Losses for loans = $422.1mm or, 1.14% of loans, at June 30, 2025 (1)Calculation based on end of period loan balance (2)Net charge-off percentage calculation is annualized and in relation to avg. quarterly loan balances $ in thousands Allowance for Credit Losses % of Loans Off-Balance Sheet Total At June 30, 2024$381,6011.13% (1) $14,469$396,070 Net Charge Offs($18,348) 0.22% (2) ($18,348) 3Q Provision$28,281 ($2,000)$26,281 At September 30, 2024$391,534 1.14% (1) $12,469$404,003 Initial ACL assigned to PCD$14,115 $14,115 Net Charge Offs($20,807) 0.24% (2) ($20,807) 4Q Provision$29,652 $-$29,652 At December 31, 2024$414,494 1.17% (1) $12,469$426,963 Net Charge Offs($13,992) 0.16% (2) ($13,992) 1Q Provision$16,960 $-$16,960 At March 31, 2025$417,462 1.16% (1) $12,469$429,931 Net Charge Offs($18,737) 0.20% (2) ($18,737) 2Q Provision$23,400 $845$24,245 At June 30, 2025$422,125 1.14% (1) $13,314$435,439 Allowance for Credit Losses 29 Allowance for Credit Losses 30 ($ in thousands) Allowance for Credit Losses June 30, 2025 March 31, 2025 December 31, 2024 September 30, 2024 June 30, 2024 Amount % of LoansAmount % of LoansAmount % of LoansAmount % of LoansAmount % of Loans Commercial and Industrial $187,0201.25%$183,2051.30%$174,7991.27%$162,3711.25%$154,0141.25% Commercial Real Estate 106,7310.82%108,9280.84%117,6510.94%112,4630.91%108,8110.88% Construction and Land Development 32,7530.96%30,4610.86%33,6200.91%32,3750.93%30,0350.83% Consumer Real Estate 87,2961.69%86,4471.74%80,0421.63%76,1871.55%80,2471.65% Consumer and Other 8,3251.40%8,4211.48%8,3821.56%8,1381.54%8,4941.57% Allowance for Credit Losses - Loans $422,1251.14%$417,4621.16%$414,4941.17%$391,5341.14%$381,6011.13% Reserve for unfunded commitments 13,31412,46912,46912,46914,469 Allowance for Credit Losses - Total $435,439$429,931$426,963$404,003$396,070 (*) Excludes past due loans rated substandard ($ in thousands)June 30, 2025 AS A % OF TOTAL LOANS March 31, 2025 AS A % OF TOTAL LOANS June 30, 2024 AS A % OF TOTAL LOANS NPLs and > 90 days Const. and land development $2,2940.01%$2,2520.01%$8530.00% Consumer RE 28,8390.08%34,4360.10%35,3550.11% CRE – Owner Occupied 12,2420.03%14,6650.04%4,6050.01% CRE – Non-Owner Occupied 68,7920.19%69,9850.19%39,3790.12% Total real estate $112,1670.31%$121,3380.34%$80,1920.24% C&I 48,2170.13%53,0910.15%19,9430.06% Other1,4380.00%1,4790.00%1,5710.00% Total loans $161,8220.44%$175,9080.49%$101,7060.30% Classified loans and ORE Classified commercial loans$169,0270.46%$185,6030.51%$148,5940.44% Doubtful commercial loans-0.00%-0.00%20.00% Other impaired loans35,7220.10%44,8590.13%43,2290.13% 90 days past due and accruing (*)4,6520.01%4,3370.01%4,0570.01% Other real estate4,8350.01%3,6380.01%2,6360.01% Other repossessed assets-0.00%180.00%1240.00% Total$214,2360.58%$238,4550.66%$198,6420.59% Pinnacle Bank classified asset ratio3.9%4.4%4.0% 31 Balance Sheet – Asset Quality Balance Sheet – Asset Quality 32 0.10% 0.16% 0.23% 0.18% -0.20% 0.00% 0.20% 0.40% 0.60% 0.80% 1.00% 1.20% 1.40% 1.60% CREConstructionC&IConsumer REConsumer and other Total Net Charge Off Rates Annualized Net Loan Charge Offs by Loan Type 202220232024YTD 2025 Balance Sheet – Asset Quality – 100/300 Test ($ in thousands) Description2Q251Q254Q243Q242Q241Q24 Loans secured by real estate: Construction, land development, and other loans: 1-4 family residential construction loans$644,847$664,689$670,350$667,600$678,836$672,284 Other construction loans and all land development and other land loans2,767,2132,861,1713,028,9712,818,9052,942,7273,146,050 Loans included in the 100% test$3,412,060$3,525,860$3,699,321$3,486,505$3,621,563$3,818,334 Secured by multifamily (5 or more) residential properties$2,397,809$2,362,656$2,208,335$2,213,153$2,190,484$1,924,931 Loans secured by other nonfarm nonresidential properties5,891,6945,977,5835,931,4205,919,2355,998,3266,138,711 Financed real estate not secured by real estate 528,532492,003511,639451,932449,948460,223 Unsecured REITs380,978343,841356,907366,250368,452363,685 Loans included in the 300% test$12,611,073$12,701,943$12,707,622$12,437,075$12,628,773$12,705,884 ,, Total Risk-Based Capital$5,517,167$5,372,342$5,246,472$5,111,617$4,971,045$4,924,971 % of Total Risk-Based Capital 100% Test – Construction and Land Development62%66%71%68%73%78% 300% Test – Construction and Land Development + NOOCRE + Multifamily229%236%242%243%254%258% 33 Note: Strategic expansion volumes include certain deposits that are recorded in the various geographies (as detailed on slide 35) but for illustration purposes above are included as Strategic Expansion deposits due to the relationship managers being assigned to a specialty lending unit. 34 Net Deposit Growth – 2Q25 – Strategic Decisions: •Strategic Expansion - $201 million •Jacksonville, Atlanta, DC, Alabama, Kentucky, Franchise Finance, Equipment Finance •Legacy Recruiting Impact – $281 million •New RMs hired in past 2.5 years other than in our strategic market expansions •Legacy market – $38 million •RMs in legacy markets such as, Nashville, Charlotte, Raleigh, Charleston, Memphis, Chattanooga, etc. that have been with Pinnacle for greater than three years Balance Sheet – Deposit Portfolio Balance Sheet – Deposit Portfolio – Market Segmentation ($ in millions) TOTAL DEPOSITSCORE DEPOSITSNONCORE DEPOSITS TOTAL PINNACLETRANSACTION AND MMDACDsPUBLIC FUNDS and OTHER DEPOSITS 2Q252Q242Q252Q242Q252Q242Q252Q24 Nashville$15,536.6$14,638.1$13,816.3$12,980.0$725.9$724.8$994.4$933.3 Knoxville3,362.22,854.63,083.02,562.1187.3210.291.982.3 Memphis2,467.32,343.02,095.31,924.7248.1278.1123.9140.2 Chattanooga2,862.32,687.92,603.62,401.8170.6203.788.182.4 Birmingham485.2322.2337.9263.03.24.7144.154.5 Huntsville524.5347.8506.8321.17.55.910.220.8 Louisville262.648.6240.728.021.920.6-- Bowling Green172.9146.2169.1144.42.71.51.10.3 Total TN/AL/KY$25,673.6$23,388.4$22,852.7$20,625.1$1,367.2$1,449.5$1,453.7$1,313.8 Greensboro/High Point3,273.03,088.32,778.52,562.5304.6332.4189.9193.4 Charlotte2,282.82,266.61,968.61,963.0191.3185.6122.9118.0 Charleston1,781.31,629.41,556.11,394.5136.2158.989.076.0 Raleigh1,309.51,087.51,169.4984.7101.282.838.920.0 Roanoke985.0925.1867.8789.284.7101.832.534.1 Greenville520.3519.5411.6409.471.868.636.941.5 Washington, D.C.2,246.61,080.82,038.0925.4191.6136.417.019.0 North Florida76.828.874.328.81.6-0.9- Total Carolinas / VA$12,475.3$10,626.0$10,864.3$9,057.5$1,083.0$1,066.5$528.0$502.0 Atlanta1,061.2746.51,031.9688.010.130.419.228.1 Specialty Lending 900.4644.4895.5639.31.52.03.43.1 Other4,888.74,365.11,617.51,365.837.333.73,233.92,965.6 Total$44,999.2$39,770.4$37,261.9$32,375.7$2,499.1$2,582.1$5,238.2$4,812.6 Note: Percentages noted in red text represent year-over-year growth rates. Numbers may not foot due to rounding. 35 Balance Sheet - Deposit Portfolio 36 Estimated Liquidity Available for Uninsured Deposits ($s in millions) Balances at Jun. 30, 2025 Total Deposits $44,999 Less: Insured and/or Collateralized Deposits $29,497 Total Deposits – Uninsured / Uncollateralized $15,502 Estimated Liquidity Available for Uninsured Deposits: Est. Immediately Available through Cash, Fed Discount Window $9,241 Est. Other sources – FHLB, Unpledged bonds, Reciprocal deposit programs $9,009 Estimated Liquidity Available for Uninsured Deposits $18,251 Coverage Ratio of Uninsured and Uncollateralized Deposits 1.18x $50,000 $55,000 $60,000 $65,000 $70,000 $75,000 $80,000 $85,000 $90,000 2019202020212022202320242Q25 Avg. Deposit Acct Size 5.0% 10.0% 15.0% 20.0% 25.0% 30.0% 35.0% 2019202020212022202320242Q25 Noninterest Bearing Deposits to Total Deposits (End of Period Balances) 33.7% 42.9% 38.9% 28.9% 32.7% 34.4% 0.00% 10.00% 20.00% 30.00% 40.00% 50.00% 202020212022202320242Q25 Ratio of EOP Uninsured and Uncollateralized Deposits to Total Deposits Quarter Duration Net of Hedging Unhedged Duration Avg. Yield - TE 2Q252.7%6.4%4.4% 1Q252.4%6.3%4.3% 4Q242.1%6.2%4.3% 3Q242.0%6.2%4.6% 2Q243.5%6.5%4.4% 1Q243.1%6.3%4.1% 4Q232.9%6.2%4.1% 3Q234.4%7.7%3.8% 2Q234.5%6.1%3.7% 1Q234.4%5.9%3.5% Balance Sheet – Bond Portfolio 37 58% of effective duration has been neutralized via hedging Security Type 6/30/25 Balance % of Portfolio 3/31/25 Balance % of Portfolio 12/31/24 Balance % of Portfolio 9/30/24 Balance % of Portfolio Treasuries1,639,36617.4%1,526,45816.9%1,526,37217.5%1,480,55717.6% Agencies443,3654.7%469,8515.2%493,6785.7%517,3946.1% MBS1,999,85721.2%2,043,63122.7%2,200,73025.2%2,212,83526.2% CMOs1,463,69615.5%1,154,97512.8%743,8618.5%393,8474.7% Municipals3,618,44238.4%3,505,73438.9%3,434,39039.4%3,400,183 40.3% Asset Backed133,4321.3%155,4621.7%176,2352.0%272,4243.2% Corporates122,6911.4%152,3321.7%152,4781.7%157,6261.9% Portfolio Book Value9,420,851100.0%9,008,443100.0%8,727,745100.0%8,434,866100.0% Unrealized G(L), gross(354,199)(3.8%)(289,649)(3.2%)(346,478)(4.0%)(141,625)(1.7%) Portfolio Carrying Value9,066,65196.2%8,718,79496.8%8,381,26896.0%8,293,24198.3% Unrealized G(L), net (AOCI)(202,183)-(148,318)-(141,629)-(113,010)- 60% 49% 46% 45% 43% 40% 51% 54% 55% 57% Jun. 2024Sep. 2024Dec. 2024Mar. 2025Jun. 2025 Effective Bond Portfolio Composition End of Period Fixed RateVariable Rate 4.44 3.40 16.5 16.7 10.0 12.5 15.0 17.5 20.0 22.5 25.0 1.50 2.00 2.50 3.00 3.50 4.00 4.50 5.00 1Q202Q203Q204Q201Q212Q213Q214Q211Q222Q223Q224Q221Q232Q233Q234Q231Q242Q243Q244Q241Q252Q25 % of Total Assets Bond Yields PNFP - YieldPeer Median - YieldPNFP - % of AssetsPeer Median - % of Assets Interest Rate Sensitivity 38 Note: We believe our interest rate sensitivity modeling is consistent with regulatory requirements.Our interest rate sensitivity modeling incorporates a number of broad assumptions for earnings simulation, including loan and deposit re-pricing characteristics, the rate of loan prepayments, static balance sheet, etc. Management periodically reviews these assumptions for accuracy based on historical data and future expectations and may change assumptions over time based on better data sources, improved modeling techniques, regulatory changes, etc. Our ALCO policy requires that the base scenario assumes ALL rates remain flat for the prescribed time periods and is the scenario, including those above, to which all others are compared in order to measure the change in net interest income. Policy limits are applied to the results of certain modeling scenarios. While the primary policy scenarios focus is on a twelve-month time frame, including the information above, for the earnings simulations model, longer time horizons are also modeled but are not shown herein. *Analysis reflects modeling as of 6.30.25 *Analysis reflects modeling as of 6.30.25 1.5% 1.6% 1.2% 0.6% 0.7% 0.3% 0.1% -0.1% -0.1% -0.1% -1.2% -1.6% -1.2% -0.6% -0.7% -0.3% 0.1% 0.4% 0.4% 0.4% -5.0% -3.0% -1.0% 1.0% 3.0% 5.0% 1Q232Q233Q234Q231Q242Q243Q244Q241Q252Q25 Net Interest Income %  Rate Ramp Scenarios Ramp +100Ramp -100 2.5% 3.0% 2.4% 1.4% 1.4% 0.6% 0.3% -0.1% 0.0% 0.1% -2.0% -2.9% -2.4% -1.4% -1.4% -0.7% 0.3% 0.7% 0.6% 0.6% -5.0% -3.0% -1.0% 1.0% 3.0% 5.0% 1Q232Q233Q234Q231Q242Q243Q244Q241Q252Q25 Net Interest Income %  Rate Shock Scenarios Shock +100Shock -100 * Adjusted noninterest income is a non-GAAP financial measure that excludes gains and losses on sales of investment securities. For a reconciliation of this Non-GAAP financial measure to the most directly comparable GAAP measure, see slides 50-51. 39 Fee Income (dollars in thousands)2Q251Q252Q24 Linked- Quarter Annualized Growth % Year-over- Year Growth % Service charges$17,092$17,028$14,5631.5%17.4% Investment services19,32418,81715,72010.8%22.9% Insurance commissions3,6934,6743,715(84.0%)(0.6%) Gains on mortgage loans sold, net1,9652,5073,270(86.5%)(39.9%) Losses on sales of investment securities, net-(12,512)(72,103)100.0%100.0% Trust fees9,2809,3408,323(2.6%)11.5% Income from equity method investment (BHG)26,02720,40518,688>100.0%39.3% Gains on sale of fixed assets202210325 (15.2%)(37.8%) Other: Interchange and other consumer fees20,24819,99620,191 5.0%0.3% Bank-owned life insurance11,6309,6338,754 82.9%32.9% Loan swap fees2,1171,3851,262 >100.0%67.7% SBA loans sales 1,7291,5032,439 60.1%(29.1%) Income (loss) from other equity investments2,990(159)3,266 >100.0%(8.5%) Other9,1605,5995,875>100.0%55.9% Total noninterest income$125,457$98,426$34,288>100.0%>100.0% Noninterest income/Average Assets0.93%0.76%0.28%89.5%>100.0% Adjusted noninterest income*$125,457$110,938$106,39152.3%17.9% Adjusted noninterest Income*/Total Avg. Assets0.93%0.86%0.88%32.6%5.7% •Core fee categories of wealth management, service charges, and interchange, etc. reflect strong revenue growth in 2Q25 over 2Q24. •Income from BHG up significantly on both a linked-quarter and year-over-year basis. •Income from other equity investments increased in 2Q25 as compared to 1Q25 due to adjustments to the fair value of these investments quarter over quarter. •During 1Q25, recorded $12.5 million net loss on the sale of certain investment securities. •Bank-owned life insurance increased $2.0 million between 1Q25 and 2Q25 due to the purchase of an additional $150 million in policies during the first six months of 2025. •Insurance commissions decreased $1.0 million between 1Q25 and 2Q25 due to the contingent income that was recorded during 1Q25 related to 2024 sales production and claims experience. * Adjusted noninterest expense is a non-GAAP financial measure that excludes the impact of ORE expense (income) and fees related to terminating agreement to resell securities and professional fees associated with capital optimization initiatives. ** Adjusted efficiency ratio is a non-GAAP financial measure that excludes the impact of ORE expense (income), fees related to terminating agreement to resell securities and professional fees associated with capital optimization initiatives and losses on sales of investment securities. For a reconciliation of these non-GAAP financial measures to the most directly comparable GAAP measures, see slides 50-51. 40 Noninterest Expense (dollars in thousands)2Q251Q252Q24 Linked-Quarter Annualized Growth % Yr-over-Yr Growth % Salaries and commissions$111,897$112,172$100,434(1.0%)11.4% Cash and equity incentives 44,76330,85928,273>100.0%58.3% Employee benefits and other24,58629,05821,410(61.6%)14.8% Total personnel costs$181,246$172,089$150,11721.3%20.7% Equipment and occupancy48,04346,18041,03616.1%17.1% Other real estate, net 1375822>100.0%>100.0% Marketing and other business development8,7728,6666,7764.9%29.5% Postage and supplies 3,1923,3703,135(21.1%)1.8% Amortization of intangibles 1,4001,4171,568(4.8%)(10.7%) Other noninterest expense: Deposit related expense14,98817,72015,749(61.7%)(4.8%) Lending related expense16,40116,09513,5377.6%21.2% Wealth management expense9801,183856 (68.6%)14.5% Other noninterest expense11,2878,70938,593>100.0%(70.8%) Total other noninterest expense$43,656$43,707$68,735(0.5%)(36.5%) Total noninterest expense$286,446$275,487$271,38915.9%5.5% Efficiency ratio56.7%59.5%74.0%(18.8%)(23.4%) Noninterest expense/Total average assets2.13%2.13%2.24%-(4.9%) Adjusted noninterest expense *$286,309$275,429$242,96715.8%17.8% Adjusted efficiency ratio **56.7%57.9%55.4%(8.3%)2.3% Adjusted noninterest expense*/Total avg. assets2.13%2.13%2.00%-6.5% Headcount (FTE)3,627.03,595.03,469.03.6%4.6% •Salaries and commissions reflect the impact of increased headcount and merit raises since January 1, 2025. •Cash incentives in 2Q25 reflect the resetting of estimated incentive payouts for 2025. Cash incentive expense is adjusted each quarter to reflect the anticipated payout percentage for the annual cash incentive plan. •Increased costs in equipment and occupancy reflect new properties and equipment placed into service since January 1, 2025; a portion of which relates to our occupancy of our new Nashville, TN headquarters during the first quarter of 2025. •Marketing and other business development costs were up in 2025 primarily as a result of our partnership with The Pinnacle, Nashville's newest live music venue, which opened in 1Q25, and other factors including increases in both client and associate engagement expenses due to our increased headcount and market extensions. •Deposit related expense decreased due to a reduction in the Company’s FDIC assessment during 2Q25 as compared to 1Q25 and 2Q24. •Other noninterest expense for 2Q24 includes the impact of $28.4 million in fees related to terminating agreement to resell securities previously purchased and professional fees associated with capital optimization initiatives. Excluding this impact, total other noninterest expense increased year-over-year by 10.7%. *: LTM revenue per share is a non-GAAP financial measure that excludes gains and losses on sales of investment securities, loss on BOLI restructuring, gain on sale of fixed assets as a result of sale-leaseback transaction and recognition of mortgage servicing asset. For a reconciliation of these Non-GAAP financial measures to the most directly comparable GAAP measure, see slides 50-51. Note: See slide 52 for peer group utilized in the above analysis. Peer group calculated by aggregating total peer revenues by total peer weighted avg. shares for each quarter. Source: S&P Global Market Intelligence 41 Income Statement – Revenue Per Share $13.87 $14.05 $14.35 $15.07 $15.78 $16.51 $17.07 $17.50 $17.85 $18.62 $19.51 $20.33 $21.09 $21.39 $21.48 $21.45 $21.60 $21.89 $22.49 $23.39 $24.12 $24.93 11.6% 8.7% 6.8% 11.3% 13.8% 17.5% 19.0% 16.2% 13.1% 12.8% 14.3% 16.2% 18.2% 14.9% 10.1% 5.5% 2.4% 2.4% 4.7% 9.1% 11.7% 13.9% 5.8% 6.7% 6.6% 5.3% 6.5% 5.8% 3.4% 0.5% -0.3% 1.3% 4.5% 10.9% 15.2% 16.0% 10.7% 1.2% -3.8% -6.0% -5.5% 2.6% 4.3% -8.0% -6.0% -4.0% -2.0% 0.0% 2.0% 4.0% 6.0% 8.0% 10.0% 12.0% 14.0% 16.0% 18.0% 20.0% $12.00 $13.00 $14.00 $15.00 $16.00 $17.00 $18.00 $19.00 $20.00 $21.00 $22.00 $23.00 $24.00 $25.00 1Q202Q203Q204Q201Q212Q213Q214Q211Q222Q223Q224Q221Q232Q233Q234Q231Q242Q243Q244Q241Q252Q25 Y/Y Revenue per Share Growth Revenue per Share LTM Revenue Per Share Growth* vs. Peers PNFP LTM Rev/SharePNFP Y/YPeer Median Y/Y Tangible Book Value Growth 14.2% 5.1% 14.8% 9.5% 8.8% 2021 2022 2023 2024 2025* Focused on preserving and growing TBV per common share – YTD growth *: YTD Annualized Note: For a reconciliation of this Non-GAAP financial measure to the most directly comparable GAAP measure, see slide 50. See slide 52 for peer group utilized in the above analysis. 42 Highlights •Quarterly dividend per common share increased to $0.24 in 1Q25 •Tangible book value per common share at June 30, 2025 was $58.70, up 10.9% from June 30, 2024 •Common equity tier 1 risk-based capital ratio was 10.7% at both June 30, 2025 and June 30, 2024. •Capital Ratios remains strong with top quartile Tangible Common Equity/Tangible Assets ratios at Mar. 31, 2025 compared to peers. **: excluding goodwill, core deposit and other intangible assets 8.8% 8.5% 8.6% 8.6% 8.6% 8.5% 7.3% 7.7% 8.3% 6.00% 7.00% 8.00% 9.00% 2021Y2022Y2023Y2024Y2Q25 Tangible Common Equity Ratio PNFP and Peer Medians PNFPPeer Median PNFP TCER has approximated 8.5% since 2021 while many peers have experienced TCER dilution for same period most likely due to elevated interest rate environment and resulting impact on AOCI $39.77 $42.08 $48.85 $52.92 $58.70 Tangible Book Value per Share** BHG Credit Quality Continues to Impress Sophisticated credit scoring models produce impressive results BHG Continues to Leverage & Grow its Distribution Network Historically high origination volume in 2Q25 while maintaining tight credit 43 Banks Buyers in Funding Network Quarterly Origination & Placements ($mm) Total Banks In Network Unique Buyers Each Period Source: BHG Internal Data •BHG’s origination volumes rose again in Q2, supported by continued growth in lead flow. •Placements through the BHG Bank Network remained robust, with loans sold increasing to $614 million in Q2. •The BHG Loan Hub maintains a diverse base, featuring 759 unique bank buyers over the past twelve months. •Banks continue to be drawn to BHG loans due to the blend of higher yields and strong historical credit performance. •BHG’s distinct funding platform, including its bank network and institutional investors, provide ample funding for increased origination volume. •BHG implements various initiatives to foster strong engagement and loyalty among its bank partners: •Quarterly and monthly seminars •Regulatory and risk management advisory services •Access to top-tier technology providers •Regular communications on BHG’s performance and other company updates $523 $435 $446 $533 $467 $521 $505 $605 $614 $557 $564 $354 $396 $232 $272 $329 $772 $616 $1,095 $1,039 $786 $692 $871 $989 $1,161 $1,210 $1,497 $0 $500 $1,000 $1,500 2Q233Q234Q231Q242Q243Q244Q241Q252Q25 Placements to Bank NetworkPlacements to Institutional InvestorsOrigination - 200 400 600 800 0 400 800 1,200 1,600 2,000 20172018201920202021202220232024TTM Q2 2025 Total Banks In NetworkUnique Buyers Bank Auction Platform Rates •Bank buy rates continued to decrease, demonstrating confidence in BHG credit. •Auction platform spreads remain above long- term averages, finishing at 9.8% for 2Q25, highest since 2022 •BHG continues to work with bank partners to optimize risk/return dynamics and facilitate attractive loan economics. BHG Credit Quality Continues to Impress Sophisticated credit scoring models produce impressive results BHG Produces Wide Spreads on Bank Auction and Balance Sheet Deals Spreads reaching 10% across all Placement Channels Off Balance Sheet - Borrower Coupon and Bank Buy Rates Blended Portfolio Yield On Balance Sheet & Related on Balance Sheet Funding Costs 13.6% 13.4% 13.9%13.9% 14.0% 14.2% 15.5% 15.8% 17.0%16.7%16.7%16.4%17.0%17.3%17.3%17.6%17.2%17.4% 4.0% 3.7% 3.4% 3.2% 3.1% 4.4% 5.8% 6.9% 7.6% 8.0% 8.6% 8.8% 8.9% 8.6% 8.1% 7.9% 7.7% 7.6% 0.0% 3.0% 6.0% 9.0% 12.0% 15.0% 18.0% 1Q212Q213Q214Q211Q222Q223Q224Q221Q232Q233Q234Q231Q242Q243Q244Q241Q252Q25 Borrower Coupon on Loans Sold to BankBank Buy Rate 12.0% 12.5% 13.4% 14.2% 14.1% 14.6% 15.1% 15.5% 15.4% 15.3% 15.5% 16.3%16.3% 15.9% 16.6% 16.8% 17.1%17.2% 3.8% 3.2% 2.7% 2.9% 3.0% 3.5% 3.6% 4.6% 5.6% 5.9% 6.3% 6.6% 6.7% 6.4% 6.8% 6.6% 6.4% 6.5% 0.0% 3.0% 6.0% 9.0% 12.0% 15.0% 18.0% 1Q212Q213Q214Q211Q222Q223Q224Q221Q232Q233Q234Q231Q242Q243Q244Q241Q252Q25 Loan Interest Income YieldBorrowing Rates On-Balance Sheet Rates •Chart details blended rates for the entire on- balance sheet portfolio at quarter end. •Approximately 85% of balance sheet loans are fixed rate placements with locked in spreads approximating 10.7% for 2Q25. 44 Source: BHG Internal Data BHG Reserves Compare Favorably to Trailing Credit Loss The trailing 12-month balance sheet loss figure declined to 6.3% in Q2 45 Source: BHG Internal data (1)Credit loss represents delinquent loans that BHG brought back from bank partners. (2)Prepayment loss represents writing off unamortized premium from gain on sale premium related to loans sold to bank partners. (3)Reserves that BHG creates on balance sheet against anticipated losses on account of delinquency or pre-payment related to loans sold to bank partners. Legally BHG is not obligated to purchase delinquent loans from banks. Reserves and Losses for Off B/S Loans (TTM) Reserves and Losses of On B/S Loans (TTM) (3) (1)(2) •Trailing 12-month losses for off-balance sheet loans total 7.7% including the impact of loans where borrower elects to prepay. The Q2 reserve balance for estimated loan substitutions and prepayments totaled 7.8%. •Delinquency rates continue to trend favorably as 2024 originations demonstrate improved credit results. •Increase in CECL allowance rate driven by purchase credit deteriorated loans. 0% 1% 2% 3% 4% 5% January April July October January April July October January April July October January April July October January April 20212022202320242025 BHG 30 Days PD Trend Total DelinquencyCommercial LoansConsumer Loans $0 $1,000 $2,000 $3,000 $4,000 $5,000 $6,000 $7,000 $8,000 $9,000 Loan Balances on/off Balance Sheet (in MM) On Balance SheetOff Balance Sheet 3.4% 4.2% 4.9% 5.2% 5.5% 1.3% 1.5% 1.7% 1.9% 2.2% 5.9% 6.2% 7.1% 7.5% 7.8% 0.0% 4.0% 8.0% 12.0% 2Q243Q244Q241Q252Q25 Credit Loss %Prepayment Loss %Estimated Subs & Prepays as % of Loans in bank network 7.2% 7.4% 7.3% 6.8% 6.3% 9.9% 9.1% 9.3%9.3% 10.5% 0.00% 4.00% 8.00% 12.00% 2Q243Q244Q241Q252Q25 TTM Net Charge Offs to Avg. Loans HFICECL Allowance to Loans HFI BHG has Increased Focus on Higher FICO Originations Over 80% of Q2 2025 Originations were originated to FICO scores of 700+ •BHG continues to refine and tighten its credit underwriting: •Losses in certain risk classes, particularly the lower credit tranches of loans made post- COVID (2021 and 2022), exceeded acceptable internal tolerances prompting more conservative underwriting standards by BHG beginning in 2023. •Historical credit analysis indicates that approximately 70% of losses occur within the first 36 months of origination. 46 Cumulative Net Loss Curves FICO Mix $456 $610 $711 $873 $1,449 $1,785 $2,808 $4,145 $3,936 Originations ($ mm) Source: BHG Internal Data $3,705 $2,708 0%20%40%60%80%100% 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 <650650-699700-749750-799>800 BHG Credit Quality Continues to Impress Sophisticated credit scoring models produce impressive results BHG Has Diverse, Growing Funding Channels Proactive management of placement channels continues to provide flexibility to BHG’s platform 47 Off B/S Revolving facilities Loan Sale Auction Platform Bank Warehouses Private Whole Loan Sale Secured Borrowing Term ABS Deals (Public) 3 Warehouse facilities with large banks, providing up to $750mm in funding capacity, with $0 utilization as of June 30, 2025. $3.3B+ in notes issued through 10 transactions over 5 years. Over $2.3B in cumulative secured borrowing placements to date. BHG and investor share in credit losses under pre-determined split. Term Loans Working Capital Line Over 1,690 banks in network. 759 unique banks acquired BHG loans over the past 12 months, with $2.2B sold. 2Q25 sales equal $614M $1.3B over the last 6 months $616M in 2Q25 $525mm revolving line of credit to fund near-term cash needs for new loans – 6 banks in facility ($375mm utilized as of June 30, 2025). Source: BHG Internal Data BHG Financials 48 Source: BHG Internal Data, unaudited. ($'s in thousands) At Jun 30, 2025 At Mar 31, 2025 At Dec 31, 2024 Cash and Cash Equivalents592,500 762,815 578,067 Loans Held for Investment2,664,514 2,655,603 2,589,084 Allowance for Loan Losses(279,136) (245,009) (240,293) Loans Held for Sale484,730 505,530 531,745 Premises and Equipment67,679 72,932 67,629 Other Assets294,386 273,696 257,993 Total Assets3,824,673$ 4,025,567$ 3,784,225$ Estimated loan substitutions & prepayments624,392 577,503 530,457 Secured Borrowings2,083,777 2,285,533 2,069,554 Notes Payable375,000 375,000 375,000 Borrower Reimbursable Fee144,472 150,842 154,067 Other Liabilities176,690 110,941 128,000 3,404,331$ 3,499,819$ 3,257,078$ Equity420,342 525,748 527,147 Total Liabilities & Stockholders Equity3,824,673$ 4,025,567$ 3,784,225$ Outstanding Loans purchased by Community Banks7,968,139 7,715,700 7,455,576 Soundness Statistics: Cash to Assets15.49%18.95%15.28% Equity to Assets10.99%13.06%13.93% Est. loan subs & prepays as % of Loans at Other Banks 7.84%7.48%7.11% Allowance to Loans Held for Investment10.48%9.23%9.28% Total Reserves against Total Outstanding8.50%7.93%7.67% Total Liabilities ($'s in thousands)2Q 20251Q 20254Q 2024 Interes t Income136,144$ 134,494$ 129,220$ Interes t Expens e41,600 40,642 36,966 Provi s i on for Loan Los s es50,850 42,623 48,970 Net Interest Income After Provision for Loan Losses43,694 51,229 43,284 Gai ns on Loan Sal es & Ori gi nati on Fees113,601 95,014 78,405 Other Income20,392 11,155 16,102 Total Net Revenues177,687 157,398 137,791 Gross Revenues270,137 240,663 223,727 Sal ary and Benefi ts57,882 51,490 52,927 Marketi ng Expens es17,518 19,139 16,367 Portfol i o Expens es12,075 10,995 10,240 Other Expens es38,788 31,628 34,185 Total Operating Expenses126,263 113,252 113,719 Net Earnings51,424$ 44,146$ 24,072$ Profitability Statistics Earnings to Gross Revenues19.04%18.34%10.76% Portfolio Mgmt Expense to Gross Revenues38.69%39.17%42.99% Operating Expenses to Gross Revenues42.27%42.49%46.25% Relationship Manager Portfolio Size by Tenure 49 Current Average Portfolio Sizes by RM Tenure ($mm) Year RMs Hired* 202052 202173 202275 202355 2024103 * Represents revenue producer hires with loan and deposit portfolios. 50 Reconciliation of Non-GAAP Financial Measures 51 Reconciliation of Non-GAAP Financial Measures 2025 Peer Group 52 Institution NameTickerCity, State Pinnacle Financial Partners, Inc.PNFPNashville, TN Associated Banc-corpASBGreen Bay, WI Bank OZKOZKLittle Rock, AR Bank United Inc.BKUHouston, TX BOK Financial Corp.BOKFTulsa, OK Cadence BankCADETupelo, MS Comerica Inc. CMADallas, TX Commerce Bancshares, Inc.CBSHKansas City, MO Cullen/Frost Bankers, Inc.CFRSan Antonio, TX F.N.B. CorporationFNBPittsburgh, PA First Horizon Corp. FHNMemphis, TN Fulton Financial CorporationFULTLancaster, PA Hancock Whitney CorporationHWCGulfport, MS Prosperity Bancshares, Inc.PBHouston, TX Simmons First National CorporationSFNCPine Bluff, AR South State CorporationSSBWinter Haven, FL Synovus Financial Corp.SNVColumbus, GA UMB Financial CorporationUMBFKansas City, MO United Bankshares Inc. UBSICharleston, WV Valley National BancorpVLYNew York, NY Wintrust Financial CorporationWTFCRosemont, IL Zions Bancorp. NAZIONSalt Lake City, UT Investor Call SECOND QUARTER 2025 M. TERRY TURNER, PRESIDENT AND CEO HAROLD R. CARPENTER, EVP AND CFO

Pinnacle   and   Synovus   to   Combine: Building   The   Southeast   Growth   Champion July   24,   2025 2 Forward ‐ Looking   Statements Forward ‐ Looking   Statements   This   communication   contains   statements   that   constitute   “forward ‐ looking   statements”   within   the   meaning   of,   and   subject   to   the   protections   of,   Section   27A   of   the   Securities   Act   of   1933,   as   amended,   and   Section   21E   of   the   Securities   Exchange   Act   of   1934,   as   amended.   All   statements   other   than   statements   of   historical   fact   are   forward ‐ looking   statements.   These   forward ‐ looking   statements   include,   but   are   not   limited   to,   statements   about   the   benefits   of   the   proposed   transaction   between   Synovus   Financial   Corp.   (“Synovus”)   and   Pinnacle   Financial   Partners,   Inc.   (“Pinnacle”),   including   future   financial   and   operating   results   (including   the   anticipated   impact   of   the   proposed   transaction   on   Synovus’   and   Pinnacle’s   respective   earnings   and   tangible   book   value),   statements   related   to   the   expected   timing   of   the   completion   of   the   proposed   transaction,   the   combined   company’s   plans,   objectives,   expectations   and   intentions,   and   other   statements   that   are   not   historical   facts.   You   can   identify   these   forward ‐ looking   statements   through   the   use   of   words   such   as   “believes,”   “anticipates,”   “expects,”   “may,”   “will,”   “assumes,”   “should,”   “predicts,”   “could,”   “would,”   “intends,”   “targets,”   “estimates,”   “projects,”   “plans,”   “potential”   and   other   similar   words   and   expressions   of   the   future   or   otherwise   regarding   the   outlook   for   Synovus’,   Pinnacle’s   or   combined   company’s   future   businesses   and   financial   performance   and/or   the   performance   of   the   banking   industry   and   economy   in   general. Prospective   investors   are   cautioned   that   any   such   forward ‐ looking   statements   are   not   guarantees   of   future   performance   and   involve   known   and   unknown   risks   and   uncertainties   which   may   cause   the   actual   results,   performance   or   achievements   of   Synovus,   Pinnacle   or   the   combined   company   to   be   materially   different   from   the   future   results,   performance   or   achievements   expressed   or   implied   by   such   forward ‐ looking   statements.   Forward ‐ looking   statements   are   based   on   the   information   known   to,   and   current   beliefs   and   expectations   of,   Synovus   or   Pinnacle   and   are   subject   to   significant   risks   and   uncertainties.   Actual   results   may   differ   materially   from   those   contemplated   by   such   forward ‐ looking   statements.   A   number   of   factors   could   cause   actual   results   to   differ   materially   from   those   contemplated   by   the   forward ‐ looking   statements   in   this   communication.   Many   of   these   factors   are   beyond   Synovus’,   Pinnacle’s   or   the   combined   company’s   ability   to   control   or   predict. These   factors   include,   among   others,   (1)   the   risk   that   the   cost   savings   and   synergies   from   the   proposed   transaction   may   not   be   fully   realized   or   may   take   longer   than   anticipated   to   be   realized,   (2)   disruption   to   Synovus’   business   and   to   Pinnacle’s   business   as   a   result   of   the   announcement   and   pendency   of   the   proposed   transaction,   (3)   the   risk   that   the   integration   of   Pinnacle’s   and   Synovus’   respective   businesses   and   operations   will be   materially   delayed   or   will   be   more   costly   or   difficult   than   expected,   including   as   a   result   of   unexpected   factors   or   events,   (4)   the   failure   to   obtain   the   necessary   approvals   by   the   shareholders   of   Synovus   or   Pinnacle,   (5)   the   amount   of   the   costs,   fees,   expenses   and   charges   related   to   the   transaction,   (6)   the   ability   by   each   of   Synovus   and   Pinnacle   to   obtain   required   governmental   approvals   of   the   proposed   transaction   on   the   timeline expected,   or   at   all,   and   the   risk   that   such   approvals   may   result   in   the   imposition   of   conditions   that   could   adversely   affect   the   combined   company   after   the   closing   of   the   proposed   transaction   or   adversely   affect the   expected   benefits   of   the   proposed   transaction,   (7)   reputational   risk   and   the   reaction   of   each   company’s   customers,   suppliers,   employees   or   other   business   partners   to   the   proposed,   (8)   the   failure   of   the   closing   conditions   in   the   merger   agreement   to   be   satisfied,   or   any   unexpected   delay   in   closing   the   proposed   transaction   or   the   occurrence   of   any   event,   change   or   other   circumstances   that   could   give   rise   to   the   termination   of the   merger   agreement,   (9)   the   dilution   caused   by   the   issuance   of   shares   of   the   combined   company’s   common   stock   in   the   transaction,   (10)   the   possibility   that   the   proposed   transaction   may   be   more   expensive   to   complete   than   anticipated,   including   as   a   result   of   unexpected   factors   or   events,   (11)   risks   related   to   management   and   oversight   of   the   expanded   business   and   operations   of   the   combined   company   following   the   closing   of   the proposed   transaction,   (12)   the   possibility   the   combined   company   is   subject   to   additional   regulatory   requirements   as   a   result   of   the   proposed   transaction   or   expansion   of   the   combined   company’s   business   operations   following   the   proposed   transaction,   (13)   the   outcome   of   any   legal   or   regulatory   proceedings   or   governmental   inquiries   or   investigations   that   may   be   currently   pending   or   later   instituted   against   Synovus,   Pinnacle   or   the   combined   company   and   (14)   general   competitive,   economic,   political   and   market   conditions   and   other   factors   that   may   affect   future   results   of   Synovus   and   Pinnacle   including   changes   in   asset   quality and   credit   risk;   the   inability   to   sustain   revenue   and   earnings   growth;   changes   in   interest   rates   and   capital   markets;   inflation;   customer   borrowing,   repayment,   investment   and   deposit   practices;   the   impact,   extent   and timing   of   technological   changes;   and   capital   management   activities.   Additional   factors   which   could   affect   future   results   of   Synovus   and   Pinnacle   can   be   found   in   Synovus’   or   Pinnacle’s   filings   with   the   Securities   and Exchange   Commission   (the   “SEC”),   including   in   Synovus’   Annual   Report   on   Form   10 ‐ K   for   the   year   ended   December   31,   2024,   under   the   captions   “Forward ‐ Looking   Statements”   and   “Risk   Factors,”   and   Synovus’   Quarterly   Reports   on   Form   10 ‐ Q   and   Current   Reports   on   Form   8 ‐ K,   and   Pinnacle’s   Annual   Report   on   Form   10 ‐ K   for   the   year   ended   December   31,   2024,   under   the   captions   “Forward ‐ Looking   Statements”   and   “Risk   Factors,”   and   in   Pinnacle’s   Quarterly   Reports   on   Form   10 ‐ Q   and   Current   Reports   on   Form   8 ‐ K.   Undue   reliance   should   not   be   placed   on   any   forward ‐ looking   statements,   which   are   based   on   current   expectations   and   speak   only   as   of   the   date   that   they   are   made.   Synovus   and   Pinnacle   do   not   assume   any   obligation   to   update   any   forward ‐ looking   statements   as   a   result   of   new   information,   future   developments   or   otherwise,   except   as   otherwise   may   be   required   by   law. 3 Important   Information   About   the   Merger Important   Information   About   the   Merger   and   Where   to   Find   It Steel   Newco   Inc.   (“Newco”)   intends   to   file   a   registration   statement   on   Form   S ‐ 4   with   the   SEC   to   register   the   shares   of   Newco   common   stock   that   will   be   issued   to   Pinnacle   shareholders   and   Synovus   shareholders   in   connection   with   the   proposed   transaction.   The   registration   statement   will   include   a   joint   proxy   statement   of   Synovus   and   Pinnacle   that   also   constitutes   a   prospectus   of   Newco.   The   definitive   joint   proxy   statement/prospectus   will   be   sent   to   the   shareholders   of   each   of   Synovus   and   Pinnacle   in   connection   with   the   proposed   transaction.   INVESTORS   AND   SECURITY   HOLDERS   ARE   URGED   TO   READ   THE   REGISTRATION   STATEMENT   AND   JOINT   PROXY   STATEMENT/PROSPECTUS   WHEN   THEY   BECOME   AVAILABLE   (AND   ANY   OTHER   DOCUMENTS   FILED   WITH   THE   SEC   IN   CONNECTION   WITH   THE   TRANSACTION   OR   INCORPORATED   BY   REFERENCE   INTO   THE   JOINT   PROXY   STATEMENT/PROSPECTUS)   BECAUSE   SUCH   DOCUMENTS   WILL   CONTAIN   IMPORTANT   INFORMATION   REGARDING   THE   PROPOSED   TRANSACTION   AND   RELATED   MATTERS.   Investors   and   security   holders   may   obtain   free   copies   of   these   documents   and   other   documents   filed   with   the   SEC   by   Synovus,   Pinnacle   or Newco   through   the   website   maintained   by   the   SEC   at   http://www.sec.gov   or   by   contacting   the   investor   relations   department   of   Synovus   or   Pinnacle   at: Synovus Financial Corp. Pinnacle Financial Partners, Inc. 33 West 14th Street 21 Platform Way South Columbus, GA 31901 Nashville, TN 37203 Attention:   Investor   Relations Attention:   Investor   Relations InvestorRelations@synovus.com(706)   641 ‐ 6500 investorrelations@pnfp.com(615)   743 ‐ 8219 Before   making   any   voting   or   investment   decision,   investors   and   security   holders   of   Synovus   and   Pinnacle   are   urged   to   read   carefully   the   entire   registration   statement   and   joint   proxy   statement/prospectus   when   they   become   available,   including   any   amendments   thereto,   because   they   will   contain   important   information   about   the   proposed   transaction.    Free   copies   of   these   documents   may   be   obtained   as   described   above. 4 Additional   Statements Participants   in   Solicitation Synovus   and   Pinnacle   and   their   respective   directors   and   executive   officers   and   other   members   of   management   and   employees   may   be   deemed   to   be   participants   in   the   solicitation   of   proxies   from   Synovus’   shareholders   and   Pinnacle’s   shareholders   in   respect   of   the   proposed   transaction   under   the   rules   of   the   SEC.   Information   regarding   Synovus’   directors   and   executive   officers   is   available   in   Synovus’   proxy   statement   for   its   2025   annual   meeting   of   shareholders,   filed   with   the   SEC   on   March   12,   2025   (and   available   at   https://www.sec.gov/ix?doc=/Archives/edgar/data/0000018349/000001834925000057/syn ‐ 20250312.htm)   (the   “Synovus   2025   Proxy”),   under   the   headings   “Corporate   Governance   and   Board   Matters,”   “Director   Compensation,”   “Proposal   1   Election   of   Directors,”   “Executive   Officers,”   “Stock   Ownership   of   Directors   and   Named   Executive   Officers,”   “Executive   Compensation,”   “Compensation   and   Human   Capital   Committee   Report,”   “Summary   Compensation   Table,”   and   “Certain   Relationships   and   Related   Transactions,”   and   in   Synovus’   Annual   Report   on   Form   10 ‐ K   for   the   year   ended   December   31,   2024,   filed   with   the   SEC   on   February   21,   2025   (and   available   at   https://www.sec.gov/ix?doc=/Archives/edgar/data/0000018349/000001834925000049/syn ‐ 20241231.htm),   and   in   other   documents   subsequently   filed   by   Synovus   with   the   SEC,   which   can   be   obtained   free   of   charge   through   the   website   maintained   by   the   SEC   at   http://www.sec.gov.   Any   changes   in   the   holdings   of   Synovus’   securities   by   Synovus’   directors   or   executive   officers   from   the   amounts   described   in   the   Synovus   2025   Proxy have   been   or   will   be   reflected   on   Initial   Statements   of   Beneficial   Ownership   of   Securities   on   Form   3   or   on   Statements   of   Change   in   Ownership   on   Form   4   filed   with   the   SEC   subsequent   to   the   filing   date   of   the   Synovus   2025   Proxy   and   are   available   at   the   SEC’s   website   at   www.sec.gov.   Information   regarding   Pinnacle’s   directors   and   executive   officers   is   available   in   Pinnacle’s   proxy   statement   for   its   2025   annual   meeting   of   shareholders,   filed   with   the   SEC   on   March   3,   2025   (and   available   at   https://www.sec.gov/ix?doc=/Archives/edgar/data/1115055/000111505525000063/pnfp ‐ 20250303.htm)   (the   “Pinnacle   2025   Proxy”),   under the   headings   “Environmental,   Social   and   Corporate   Governance,”   “Proposal   1   Election   of   Directors,”   “Information   About   Our   Executive   Officers,”   “Executive   Compensation,”   “Security   Ownership of Certain   Beneficial   Owners   and   Management,”   and   “Certain   Relationships   and   Related   Transactions,”   and   in   Pinnacle’s   Annual   Report   on   Form   10 ‐ K   for   the   year   ended   December   31,   2024,   filed   with   the   SEC   on   February 25,   2025   (and   available   at   https://www.sec.gov/ix?doc=/Archives/edgar/data/1115055/000111505525000042/pnfp ‐ 20241231.htm),   and   in   other   documents   subsequently   filed   by   Pinnacle   with   the   SEC,   which   can   be   obtained   free   of   charge   through   the   website   maintained   by   the   SEC   at   http://www.sec.gov.   Any   changes   in   the   holdings   of   Pinnacle’s   securities   by   Pinnacle’s   directors   or   executive   officers   from   the   amounts   described   in   the   Pinnacle   2025   Proxy   have   been   or   will   be   reflected   on   Initial   Statements   of   Beneficial   Ownership   of   Securities   on   Form   3   or   on   Statements   of   Change   in   Ownership   on   Form   4   filed   with   the   SEC   subsequent   to   the   filing   date   of   the   Pinnacle   2025   Proxy   and   are   available   at   the   SEC’s   website   at   www.sec.gov.   Additional   information   regarding   the   interests   of   such   participants   will   be   included   in   the   joint   proxy   statement/prospectus   and   other   relevant   materials   to   be   filed   with   the   SEC. No   Offer   or   Solicitation This   communication   does   not   constitute   an   offer   to   sell   or   the   solicitation   of   an   offer   to   buy   any   securities   or   a   solicitation   of   any   vote   or   approval,   nor   shall   there   be   any   sale   of   securities   in   any   jurisdiction   in   which   such   offer,   solicitation   or   sale   would   be   unlawful   prior   to   registration   or   qualification   under   the   securities   laws   of   any   such   jurisdiction.   No   offer   of   securities   shall   be   made   except   by   means   of   a   prospectus   meeting   the   requirements   of   Section   10   of   the   Securities   Act   of   1933,   as   amended. 5 Terry   Turner President   and   Chief   Executive   Officer Kevin   Blair Chairman,   Chief   Executive   Officer   and   President Jamie   Gregory Chief   Financial   Officer Harold   Carpenter Chief   Financial   Officer Today’s   Speakers 6 The   Combination   Is   Financially   Compelling   ... Refer   to   the   End   Notes   for   sources   and   footnoted   information.   Significant   Scale Top ‐ Quartile   Profitability   (2027E) Compelling   Financial   Metrics 1.38% ROAA 18% ROATCE $116bn Total   Assets $95bn Total   Deposits 2.6   years TBVPS   Earnback $81bn Total   Loans 47% Efficiency   Ratio 21% 2027E   EPS   Accretion 9.8% CET1   Ratio   at   Close 7 ...   And   Positioned   to   Deliver   for   Clients   and   Investors   ... Refer   to   the   End   Notes   for   sources   and   footnoted   information.   High ‐ Growth   Market   Focus Winning   Culture Exceptional   Client   Service Track   Record   of Profitable   Growth EfficientOperating   Model Driver Pro   Forma 5.1%   4.3% 4.6%   (#1   among   peers) 4.0   /   #2 4.2   /   #1 Employer   of   choice in   our   markets #3 #6 $212   million $195   million 13.1% 11.4% Top ‐ quartile   revenue   and   net   income   growth,   with   strong   risk   discipline Trusted   partner to   our   clients $202   million (#1   among   peers) 55%    52%    47% (#1   among   peers) 12.8% 7.2% Metric Last   10   Years   Adj.   EPS   Growth Last   10   Years   Adj.   Revenue   Growth Household   Growth Employee   Satisfaction (Glassdoor) J.D.   Power   Top   50   Banks: Overall   Satisfaction Avg.   Deposits   per   Branch Efficiency   Ratio   (2027E) 8 ...   Building   on   Our   Peer ‐ Leading   Positioning Superior   Branch   Efficiency Average   Deposits   per   Branch   ($mm) Best   Markets Projected   Household   Growth Unmatched   Customer   Satisfaction 2025   J.D.   Power   Net   Promoter   Score Most   Engaged   Team Glassdoor   Average   Employee   Satisfaction 4.1   3.8   3.7   3.6   3.6   3.6   3.6   3.5   3.3   3.2   Pro   Forma Peer   1 Peer   2 Peer   3 Peer   4 Peer   5 Peer   6 Peer   7 Peer   8 Peer   9 4.6%   4.6%   3.8%   2.7%   2.1%   1.8%   1.7%   1.4%   1.4%   1.0%   Pro   Forma Peer   1 Peer   2 Peer   3 Peer   4 Peer   5 Peer   6 Peer   7 Peer   8 Peer   9 53   47   42   40   37   36   34   34   32   31   Pro   Forma Peer   1 Peer   2 Peer   3 Peer   4 Peer   5 Peer   6 Peer   7 Peer   8 Peer   9 $202   $167   $148   $142   $141   $135   $131   $130   $104   $100   Pro   Forma Peer   1 Peer   2 Peer   3 Peer   4 Peer   5 Peer   6 Peer   7 Peer   8 Peer   9 Refer   to   the   End   Notes   for   sources   and   footnoted   information.   9 Key   Transaction   Highlights Structure • 0.5237x   fixed   exchange   ratio;   100%   stock   transaction • Pinnacle   Financial   Partners   common   stock   will   trade   on   the   NYSE   under   the   ticker   symbol   PNFP Pricing Leadership Board   of   Directors Pro   Forma   Ownership Brand Headquarters Community   Commitments Approvals   and   Timing • Implied   transaction   value   of   $61.18   per   Synovus   share   (10%   premium   to   unaffected   Synovus   stock   price) • Terry   Turner,   Chairman   (Current   Pinnacle President   and   Chief   Executive   Officer) • Kevin   Blair,   President   and   Chief   Executive   Officer   (Current   Synovus Chairman,   Chief   Executive   Officer   and   President) • Rob   McCabe,   Vice   Chairman   and   Chief   Banking   Officer   (Current   Pinnacle   Chairman) • Jamie   Gregory,   Chief   Financial   Officer   (Current   Synovus   Chief   Financial   Officer) • 15   directors;   8   Pinnacle   and   7   Synovus • Approximately   51.5%   Pinnacle   shareholders   and   48.5%   Synovus   shareholders • Pinnacle   Financial   Partners   and   Pinnacle   Bank • Corporate:   Atlanta,   GA • Bank:   Nashville,   TN • Significant   employment   commitments   to   Nashville,   Atlanta   and   Columbus;   continuing   strong   community   development   and   charitable   support   across   the   footprint • Pinnacle   and   Synovus   shareholders;   customary   regulatory   approvals • Expected   closing   in   Q1   2026 Refer   to   the   End   Notes   for   sources   and   footnoted   information.   10 Totally   Aligned   to   Compete   and   Win   in   the   Market Operating   Model   Compensation   Philosophy Brand Leadership   Geography   Plan   Alignment Takeaways Entrepreneurial   and   Disciplined Firmwide Alignment Total   Clarity Team   for   the Next   Decade Anchored   in   the   Two   Capitals   of   the   South  • Aligned   on   a   geographic   operating   model   with   empowered   local   leadership,   including   recruiting   and   client   selection • Leveraging   Synovus   investments   in   LFI   readiness   (people,   process,   technology) • Specialty   businesses   to   support   geographic   banking   model • Deploying   Pinnacle’s   unique   compensation   model,   ensuring   total   alignment   across   franchise   • Corporate   incentive   plan   based   on   revenue   and   EPS   growth,   two   of   the   most   highly   correlated   metrics   with   total   shareholder   return • Pinnacle   brand   recognized   as   best ‐ in ‐ class   for   commercial   banking • 45   combined   Coalition   Greenwich   “Best   Bank”   awards   in   2025 • Kevin   Blair   (54)   and   Jamie   Gregory   (49)   well ‐ positioned   for   long ‐ term   success • Terry   Turner   and   Rob   McCabe   to   partner   with   the   new   management   team • Best ‐ of ‐ breed   approach   for   pro   forma   leadership;   decisions   already   made   on   senior   leadership   team • Pinnacle   will   be   the   largest   bank   holding   company   headquartered   in   Georgia   and   the   largest   bank   headquartered   in   Tennessee Refer   to   the   End   Notes   for   sources   and   footnoted   information.   11 Pro   Forma   Branch   Footprint Deposit   Market   Share Southeast   Headquartered   Regional   Banks   Synovus   Pinnacle Pro   forma   footprint   population   projected   to   grow   2x   faster   than   national   average Total   Assets SE   Deposit Market   Share # Bank ($bn) (%) 1 Truist 544 11.9 2 Regions 159 3.7 3 First   Citizens 229 3.5 Pro   Forma 116 3.2 4 First   Horizon 82 2.0 5 Synovus 61 1.8 6 Pinnacle 55 1.4 7 SouthState 65 1.3 8 EverBank 42 1.0 9 Bank   OZK 41 1.0 10 Cadence 50 0.9 11 United   Community 28 0.8 12 Atlantic   Union 37 0.8 13 Ameris 27 0.8 14 BankUnited 35 0.8 15 United   Bankshares 33 0.8 Refer   to   the   End   Notes   for   sources   and   footnoted   information.   Centered   in   America’s   Best   Growth   Markets 12 Cumulative   Growth   in   Adjusted   EPS   (2014   – 2024) Refer   to   the   End   Notes   for   sources   and   footnoted   information.   Track   Record   of   Peer ‐ Leading   EPS   Growth 243% 196% 160% 113% 97% 89% 88% 69% 23% 22% 11% Peer   1 Peer   2 Peer   3 Peer   4 Peer   5 Peer   6 Peer   7 Peer   8 Peer   9 13 Shared   Commitment   Drives   Success Be   the   best   place   to   work   for   the   strongest,   most   client ‐ centric   bankers   in   our   footprint 70% “Top   Box”   Work   Environment   Scores  Serve   clients   so   well   that   they   rave   about   what   we   do   for   them 75+ Greenwich Net   Promoter   Score  Continue   rewarding   shareholders   with   outsized   performance   and   value   creation   Top ‐ Quartile   Growth in   Revenue,   EPS   and   TBVPS   +   Dividends    Energized Associates Engaged   Clients Enriched Shareholders How   We   Will   Measure   Success ConsistentWith   History Our   Shared   Commitment 14 Relentless   Focus   on   Serving   Clients   in   Our   Markets   Commercial   and   Middle   Market   Banking Commercial   Real   Estate   Banking Private   Banking   /   Private   Wealth   Services Retail   Banking Geographic   Market   Leadership Specialty   Businesses Specialty   Commercial   Lending Treasury   &   Payment   Solutions Capital   Markets Mortgage Wealth   (Brokerage,   Trust) Commercial   Sponsorship Specialty   Deposit   Verticals Rob   McCabe   (Chief   Banking   Officer) Charlie   Clark Georgia Bryan   Bean Tennessee   /   Kentucky Chris   Abele Alabama Rick   Callicutt Carolinas   and   Virginia Scott   Keith North   /   Central   Florida Mike   Walker South   Florida 15 We   Have   a   Long   Runway   to   Continue   Taking   Share   ... Pro   Forma   Deposit   Share   in   Our   Top   15   Southeast   MSAs Pro   Forma   Deposit   Share   Rank Tennessee Carolinas Georgia Florida Alabama #2   #1   #4   #3   #3   #4   #6   #5   #7   #2 #5 #12 #12 #23 #4 14.6%   14.8%   5.2%   6.0%   8.4%   7.5%   1.2%   0.6%   4.7%   0.4%   3.1%   0.7%   15.8%   15.4%   11.4%   6.5%   12.1%   9.8%   7.0%   5.9%   2.8%   6.4%   11.5%   8.2%   2.1%   1.6%   0.9%   Chattanooga Nashville Knoxville Memphis Greensboro Charleston Winston‐ Salem Columbia Charlotte Atlanta Huntsville Birmingham Tampa Orlando Miami Combined   Deposits   ($bn): $2.4 $12.8 $2.9 $2.3 $2.0 $2.1 $1.0 $1.6 $2.0 $12.2 $1.3 $3.7 $1.9 $1.1 $2.8 Refer   to   the   End   Notes   for   sources   and   footnoted   information.   16 $40   $50   ...   And   Limited   Overlap   Creates   a   Low ‐ Risk   Integration Total   Deposits   in   Pinnacle   /   Synovus   Shared   MSAs >75% Pinnacle Pinnacle / Synovus Split  >75% Synovus Nashville,   TN Chattanooga,   TN Charleston,   SC Myrtle   Beach,   SC Greenville,   SC Spartanburg,   SC Hilton   Head,   SC Atlanta,   GA Birmingham,   AL Huntsville,   AL Jacksonville,   FL SubtotalSubtotalSubtotal Percent   of Pro   Forma Deposits Pinnacle   % Pinnacle Synovus Deposits   in   Shared   MSAs   ($mm) MSA Total   Deposits   ($bn) Shared   MSAs Pinnacle   Only Shared   MSAs Synovus   Only 64%   45%    36%   55%    $462   $19,708   98%   22%   186   2,197   92%   3%   $648   $21,906   97%   25%   $1,009   $1,117   53%   2%   958   348   27%   1%   446   440   50%   1%   298   402   57%   1%   165   117   42%   0%   117   72   38%   0%   $2,992   $2,497   45%   6%   $14,856   $747   5%   17%   3,349   322   9%   4%   748   29   4%   1%   $18,953   $1,098   5%   22%   Refer   to   the   End   Notes   for   sources   and   footnoted   information.   17 #6 Customer   Satisfaction #6 Net   Promoter   Score #2 People #4 Net   Promoter   Score Best   Bank Ease   of   Doing   Business Best   Bank Satisfaction   with   RMs #1 Bank   Yo u   Can   Trust #1 Overall   Satisfaction Best   Bank Trust Best   Bank Overall   Satisfaction #1 Understanding   Yo ur   Industry #1 Satisfaction   with   RMs Our   Differentiated   Client   Focus   Sets   Us   Apart Refer   to   the   End   Notes   for   sources   and   footnoted   information.   18 2 COVID   Surge Q1’20   to   Q1’22 This   Client   Focus   Drives   Peer ‐ Leading   Deposit   Growth Average   Year ‐ Over ‐ Year   Core   Deposit   Growth Rising   Rates Q1’22   to   Q2’24 Current   Period Q2’24   to   Q2’25 +850bps +580bps +600bps 25.6%   17.1%   Pro   Forma Peer   Average 2.2%   (3.6%) Pro   Forma Peer   Average 7.2%   1.2%   Pro   Forma Peer   Average Refer   to   the   End   Notes   for   sources   and   footnoted   information.   19 Summary   Financial   Assumptions Earnings   Projections • Consensus   earnings   estimates   for   Pinnacle   and   Synovus Merger   Costs Synergies Loan   Credit   Mark Interest   Rate   & Fair   Value   Marks Capital • $675   million   in   pre ‐ tax   merger   expenses • Additional   estimated   $45   million   of   one ‐ time   LFI   costs • $250   million   of   run ‐ rate   net   expense   savings,   or   10%   of   combined   non ‐ interest   expense ‒ Includes   estimated   $285   million   of   gross   run ‐ rate   expense   savings   with   an   incremental   $35   million   of   ongoing   LFI   non ‐ interest   expense • Revenue   synergies   expected   but   not   included   in   announced   financial   metrics • $(483)   million   gross   loan   credit   mark   or   1.1%   of   Synovus   gross   loans,   in ‐ line   with   Synovus'   existing   ALL • Core   deposit   intangible   of   2.4%   of   Synovus'   total   core   deposits   excluding   jumbo   CDs • $197   million   wealth   intangible Identifiable   Intangibles • Pro   forma   common   dividend   targets   ~20%   dividend   payout   ratio • Limited   AOCI   post ‐ close   • $(1.8)   billion   of   total   pre ‐ tax   net   asset   marks   &   AOCI   accreted   back   through   earnings ‒ $(874)   million   pre ‐ tax   loan   mark ‒ $(946)   million   pre ‐ tax   AFS   and   HTM   securities   mark ‒ $(4)   million   pre ‐ tax   time   deposits   mark • $237   million   pre ‐ tax   write ‐ up   of   fixed   assets   (primarily   branch   related) Refer   to   the   End   Notes   for   sources   and   footnoted   information.   20 High ‐ Conviction,   No ‐ Regrets   Expense   Savings   ... $250   million   of   run ‐ rate   net   expense   savings;   additional   investments   for   LFI   readiness ($35   million)   netted   against   gross   synergies   ($285   million) Limited   front   line   impact and   branch   overlap Only   ~5%   of   combined   workforce   expected   to   be   impacted Synergies   developed   through   a   bottom ‐ up   detailed   review   of   staffing,   technology   and   real   estate   needs Conservative   approach   to   cost   savings;   focus   on   preserving   combined   growth   profile Primarily   leveraging   Synovus'   technology   stack   21 Commercial   Banking ...   Identified   in   a   Comprehensive   Mutual   Diligence   Process Key   Diligence   Focus   Areas Specialty   Businesses Commercial   Real   Estate Credit   Underwriting Legal Risk   Management Technology   and   Operations Regulatory   and   Compliance Finance,   Tax   and   Accounting Human   Resources Credit   Diligence   Snapshot In ‐ depth   reciprocal   credit   diligence Detailed   review   of   policies   to   ensure   compatibility   across   institutions Combination   of   dedicated   company   resources   and   third ‐ party   support Portfolios   Covered • Commercial   and   Industrial • Commercial   Real   Estate • Multifamily • Construction   and   Land   Development • Structured   Lending • Life   Insurance   Finance • Asset ‐ Based   Lending • Nonperforming   Loans • Criticized   and   Classified 22 Enhanced   Capital   Generation   Will   Fuel   Growth   Engine   Ongoing   commitment   to   conservative      and   disciplined   capital   management 9.8%   pro   forma   CET1   at   close Pro   Forma   Annual   Capital   Generation CET1   Ratio   (%) Stated   CET1 Excess   Capital   Over   9.2%   CET1   incl.   AOCI   (Peer   Median) ~$400mm ~$950mm ~$1,900mm Attractive   pro   forma   dividend   policy Target   ~20%   common   dividend   payout   ratio Strong   capital   generation   fuels   growth $2.4bn   generation   (after   dividends)   in   first   7   quarters   after   close 9.6%   10.1%   11.0%   9.8%   10.3%   11.1%   At   Close 2026E 2027E CET1   incl.   AOCI MRQ   Peer   Median   CET1   incl.   AOCI:   9.2% Refer   to   the   End   Notes   for   sources   and   footnoted   information.   23 We   Will   Deliver   Top ‐ Quartile   Performance Refer   to   the   End   Notes   for   sources   and   footnoted   information.   10.5 8.3 5.9 5.7 4.2 4.1 4.1 3.9 3.8 3.6 Pro Forma Peer   1 Peer   2 Peer   3 Peer   4 Peer   5 Peer   6 Peer   7 Peer   8 Peer   9 47 56 56 56 57 58 58 58 59 61 Pro Forma Peer   1 Peer   2 Peer   3 Peer   4 Peer   5 Peer   6 Peer   7 Peer   8 Peer   9 1.39   1.38   1.30   1.27   1.17   1.11   1.11   1.10   1.09   1.02   Peer   1Pro Forma Peer   2 Peer   3 Peer   4 Peer   5 Peer   6 Peer   7 Peer   8 Peer   9 18.0 18.0 17.6 17.5 17.2 16.3 15.9 14.9 14.4 13.7 Pro Forma Peer   1 Peer   2 Peer   3 Peer   4 Peer   5 Peer   6 Peer   7 Peer   8 Peer   9 Revenue   Growth   (2025E   – 2027E   CAGR)   (%)   ROAA   (2027E)   (%) ROATCE   (2027E)   (%)   Efficiency   Ratio   (2027E)   (%)   ’25E ‐ ’27E   Expense   CAGR   (%) 6.4 3.3 3.1 3.3 3.2 2.5 4.1 3.3 3.5 3.2 24 We   Are   Completely   Aligned   on   Our   Shared   Vision   ...   Compelling   Strategic   and   Financial   Rationale Highly   compatible   leadership   and   corporate   cultures Leadership Financially   compelling   transaction   with   strong   EPS   accretion,   achievable   cost   savings   and   reasonable   TBV   earnback Recruiting   model   and   compensation   structure Brand   Name Operating   model   and   core   system Further   diversifies   revenue   mix   while   maintaining   balance   sheet   and   capital   strength Most   economically   vibrant   footprint   in   the   country Execution ‐ Ready   with   Key   Decisions   Made Deep   leadership   team   with   LFI   experience Holding   company,   bank   headquarters   and   community   commitments 25 ...   To   Create   a   Growth   Champion   for   the   Long   Term High ‐ Growth   Markets Winning   Culture Exceptional   Client   Service Profitable   Growth Efficient   Operating   Model 4.6%   Household   Growth Employer   of   Choice   in   our   Markets Top ‐ quartile   revenue   and   net   income   growth   with   strong   risk   discipline Trusted   Partner   to   our   Clients Average   Deposits   per   Branch   of   $202   million;   47%   Efficiency   Ratio   (2027E) Pro   Forma   Rank Key   Driver #1#1#1#1#1 26 Appendix 27 Strategic   Rationale • Excellent   market   positioning   across   a   complementary   branch   network • Concentrated   in   high ‐ growth   and   attractive   core   markets   –the   most   economically   vibrant   footprint   in   regional   banking • Foundational   commitment   to   our   legacy   markets   and   our   communities Southeast   Commitment • Committed   to   running   a   fortress   bank   in   all   respects • Deep   leadership   teams   with   significant   large   bank   experience • Further   diversification   of   revenue   mix   while   maintaining   balance   sheet   and   capital   strength   Safety   and   Soundness • Genuine   scarcity   value   derived   from   status   as   a   scaled,   Southeast ‐ focused   bank   • Combined   scale   enhances   ability   to   invest   while   driving   top   tier   returns • Financially   compelling   deal   with   strategic   merit:   strong   EPS   accretion,   achievable   cost   savings   and   a   reasonable   TBVPS   earnback Shareholder   Returns • Highly   compatible   leadership   and   corporate   cultures • Opportunity   to   capitalize   upon   the   core   competencies   of   each   organization,   combining   Pinnacle’s   go ‐ to ‐ market   strategy   with   Synovus’   sophisticated   corporate   infrastructure   Team   and        Culture • Unwavering   focus   on   a   seamless   integration • Thoughtful   approach   to   communication   and   coordination • Expanded   geographic   breadth;   broader   selection   of   products   and   services Client         Experience 28 Pro   Forma   Loan   and   Deposit   Composition Loan   Portfolio (Q2’25) Deposit   Base (Q2’25) Loans/Deposits (Q2’25) CRE Commercial Non ‐ Interest   Bearing Interest   Bearing Time   Deposits 82%   87%   85%   Consumer Yield   on   Loans: 6.26%   6.25%   6.25%   Residential CRE Residential CRE Residential Non ‐ Interest   Bearing Interest   Bearing Time   Deposits Non ‐ Interest   Bearing Interest   Bearing Time   Deposits Cost   of   Deposits: 2.58%   2.22%   2.38%   Pro   Forma Commercial Commercial Consumer Consumer 53% 32% 14% 2% 53% 28% 16% 3% 53% 30% 15% 2% 19% 72% 8% 22% 63% 13% 21% 68% 11% Refer   to   the   End   Notes   for   sources   and   footnoted   information.   29 Refer   to   the   End   Notes   for   sources   and   footnoted   information.   Detailed   Financial   Assumptions Earnings   Projections • Consensus   earnings   estimates   for   Pinnacle   and   Synovus Merger   Costs Synergies Loan   Credit   Mark Interest   Rate   & Fair   Value   Marks Identifiable   Intangibles • $675   million   pre ‐ tax   merger   expenses   with   additional   $45   million   of   one ‐ time   LFI   costs • Expected   to   be   realized   50%   at   close   and   50%   in   first   12   months   post ‐ close • Estimated   $250   million   of   run ‐ rate   net   expense   savings,   or   10%   of   combined   non ‐ interest   expense • Includes   estimated   $285   million   of   gross   run ‐ rate   expense   savings   with   an   incremental   $35   million   of   ongoing   LFI   non ‐ interest   expense • Expected   to   be   realized   50%   in   2026,   75%   in   2027   and   100%   thereafter • Revenue   synergies   expected   but   not   included   in   announced   financial   metrics • $(483)   million   gross   loan   credit   mark   or   1.1%   of   Synovus   gross   loans,   in ‐ line   with   Synovus’   existing   ALL • Assumes   adoption   of   FASB   proposed   standard   to   eliminate   CECL   double   count • $(673)   million   AOCI;   accreted   into   earnings   straight   line   over   8   years • $(52)   million   pre ‐ tax   HTM   securities   mark;   accreted   into   earnings   straight   line   over   15   years • $(874)   million   pre ‐ tax   loan   mark;   accreted   into   earnings   over   10   years   on   sum ‐ of ‐ the ‐ years   digits   basis • $(4)   million   pre ‐ tax   time   deposits   mark;   amortized   into   earnings   in   year   1 • $237   million   pre ‐ tax   write ‐ up   of   fixed   assets;   depreciated   over   the   useful   life   of   the   assets • Core   deposit   intangible   of   2.4%   of   Synovus’   total   core   deposits   excluding   jumbo   CDs;   amortized   into   earnings   over   10   years   on   sum ‐ of ‐ the ‐ years   digits   basis • $197   million   wealth   intangible;   amortized   into   earnings   straight   line   over   10   years 30 Purchase   Accounting   Summary Tangible   Book   Value   Per   Share   Dilution Total   Intangibles   Created Refer   to   the   End   Notes   for   sources   and   footnoted   information.   Tangible   book   value   build   to   close $mm Shares $   Per   Share Pinnacle   common   equity   as   of   June   30,   2025 6,420 (  ‐  )   Goodwill   and   other   intangibles (1,868) Pinnacle   tangible   common   equity   as   of   June   30,   2025 4,552 78 58.68 (   +   )   Three   quarters   of   consensus   earnings   prior   to   close 487 (  ‐  )   Three   quarters   of   common   dividends (56) (   +   )   Amortization   of   existing   intangibles 4 (   +   )   AOCI   burn ‐ off 72 (   +   )   Changes   to   share   count 0 1 Standalone   Pinnacle   tangible   book   value   at   close 5,059 78 64.79 Pro   forma   merger   adjustments Standalone   Pinnacle   tangible   book   value   at   close 5,059 78 64.79 (   +   )   Common   equity   issued   as   consideration 8,623 74 (  ‐  )   Goodwill   &   intangibles   created (4,411) (  ‐  )   Merger   expenses (300) Pinnacle   pro   forma   tangible   book   value   at   close 8,972 152 58.90 TBVPS   Dilution   to   Pinnacle   ($) (5.89) TBVPS   Dilution   to   Pinnacle   (%) (9)% Goodwill   reconciliation $mm Merger   consideration 8,623 (  ‐  )   Synovus   marked   tangible   common   equity (4,506) Excess   Purchase   Price   4,118 (  ‐  )   Core   deposit   intangible (1,023) (  ‐  )   Wealth   intangible (197) Remaining   Excess   Purchase   Price 2,898 (   +   )   DTL   on   intangibles 293 Goodwill 3,191 (   +   )   Other   intangibles 1,220 Goodwill   and   intangibles   created 4,411 31 Pro   Forma   Earnings   Per   Share   Accretion Pro   Forma   2027   Net   Income   and   EPS Refer   to   the   End   Notes   for   sources   and   footnoted   information.   Net   Income   and   Earnings   Per   Share $mm Pinnacle   net   income   to   common   (consensus) 741 Synovus   net   income   to   common   (consensus) 818 Pinnacle   earnings   per   share   (consensus) 9.59 After ‐ tax   acquisition   adjustments  ‐  fully   phased ‐ in Cost   savings 221 Intangible   amortization (146) Accretable   yield 198 Incremental   LFI   costs (27) Fixed   asset   mark   depreciation (12) Other   transaction   adjustments (21) Pinnacle   pro   forma   operating   income   (fully   phased ‐ in) 1,772 Pro   forma   avg.   diluted   shares   outstanding 152 Pro   forma   operating   EPS   (fully   phased ‐ in) 11.63 EPS   accretion   (2027E   operating   fully   phased ‐ in)   ($) 2.04 EPS   accretion   (2027E   operating   fully   phased ‐ in)   (%) 21% 32 End   Notes Peers   listed   include   CFG,   FITB,   HBAN,   KEY,   MTB,   PNC,   RF,   TFC   and   USB. Page   6   –The   Combination   is   Financially   Compelling   ...    Scale   figures   represent   a   simple   summation   as   of   June   30,   2025   and   exclude   purchase   accounting   adjustments.   EPS   accretion   and profitability   metrics   presented   as   of   2027E   and   include   fully   phased ‐ in   cost   savings.   Reflects   operating   efficiency   ratio   including   accretable yield.   Page   7   –...   And   Positioned   to   Deliver   for   Clients   and   Investors   ... Source:   S&P   Capital   IQ   Pro,   FDIC,   J.D.   Power   and   Coalition   Greenwich.   FDIC   deposit   data   as   of   June   30,   2024   and   capped   at   $5   billion   per   branch.   EPS   Growth   and   Revenue   Growth   reflect   2014 ‐ 2024   Adjusted   EPS   CAGR   and   2014 ‐ 2024   Adjusted   Total   Revenue   per   share   CAGR,   respectively.   Household   growth   reflects   estimated   2025 ‐ 2030   (not   annualized);   growth   rate reflects   deposit ‐ weighted   average   based   on   MSA ‐ level   deposits.   Employee   satisfaction   reflects   Glassdoor   average   employee   satisfaction   (out   of   5   stars)   as   of   June   27,   2025.   J.D.   Power   rankings   reflect   U.S.   Retail   Banking Satisfaction   Study.   Reflects   operating   efficiency   ratio   including   accretable yield.   Page   8   –...   Building   on   Our   Peer ‐ Leading   Positioning Source:   FDIC,   J.D.   Power   and   S&P   Capital   IQ   Pro.   FDIC   deposit   data   as   of   June   30,   2024   and   capped   at   $5   billion   per   branch.   Reflects   Glassdoor   average   employee   satisfaction   rating   (out   of   5   stars).   Reflects   estimated   2025 ‐ 2030   (not   annualized)   household   growth;   growth   rate   reflects   deposit ‐ weighted   average   based   on   MSA ‐ level   deposits.   Pro   forma   employee   satisfaction   and   NPS   figures   blended   based   on   51.5%   Pinnacle   ownership   and   48.5%   Synovus   ownership.Page   9   –Key   Transaction   Highlights Unaffected   date   as   of   July   21,   2025. Page   10   – Totally   Aligned   to   Compete   and   Win   in   the   Market Source:   Coalition   Greenwich.   Page   11   – Centered   in   America’s   Best   Growth   Markets Source:   S&P   Capital   IQ   Pro   and   FDIC.   FDIC   deposit   data   as   of   June   30,   2024.   Total   assets   as   of   Q2’25A.   Market   share   based   on   retail   branches   with   pro   forma   ownership.   Pro   forma   assets   represent   a   simple   summation   as   of   June   30,   2025   and   exclude   purchase   accounting   adjustments. Page   12   –Track   Record   of   Peer ‐ Leading   EPS   Growth Reflect   publicly   reported   adjusted   earnings   per   share   figures. Page   15   –We   Have   a   Long   Runway   to   Continue   Taking   Share   ... Source:   FDIC   and   S&P   Capital   IQ   Pro.   FDIC   deposit   data   as   of   June   30,   2024.   Top   15   MSAs   by   pro   forma   deposits   where   total   market deposits   exceed   $10   billion   and   deposits   are   capped   at   $5   billion   per   branch.   MSAs   shown   by   state   in   descending   order   of   pro   forma   deposit   share.   Excludes   credit   union   deposits.   Pro   forma   deposit   share   may   not   sum   due   to   rounding.   Page   16   –...   And   Limited   Overlap   Creates   a   Low ‐ Risk   Integration Source:   FDIC   and   S&P   Capital   IQ   Pro.   FDIC   deposit   data   as   of   June   30,   2024.   Deposits   per   branch   are   not   capped.   Shared   MSAs   are   sorted   by   percent   of   pro   forma   franchise   deposits   from   high   to   low   within   each   category. 33 End   Notes   (Continued) Page   17   –Our   Differentiated   Client   Focus   Sets   Us   Apart Source:   J.D.   Power   and   Coalition   Greenwich.   Greenwich:   Pinnacle   reflects   2025   rankings   across   Pinnacle’s   eight   state   Southeastern   footprint;   Synovus   reflects   2025   rankings   in   U.S.   middle   market   banking.   J.D.   Power:   Pinnacle   and   Synovus   reflect   2025   rankings   for   top   50   U.S.   banks. Page   18   –This   Client   Focus   Drives   Peer ‐ Leading   Deposit   Growth Source:   S&P   Capital   IQ   Pro.   Reflects   average   YoY   quarterly   growth   rates   over   each   period.   Peer   figures   are   pro   forma   throughout   the   period   if   an   M&A   transaction   was   completed.   Core   deposits   defined   as   non ‐ time   deposits.   Page   19   – Summary   Financial   Assumptions All   figures   are   approximate.   Pre ‐ tax   AFS   and   HTM   mark   includes   $343mm   mark   on   AFS   portfolio   included   in   AOCI,   $561mm   mark   on   previously   transferred   HTM   included   in   AOCI,   $10mm   write ‐ up   of   cash   flow   hedges   included   in   AOCI   and   an   incremental   $52mm   mark   on   the   HTM   portfolio. Page   22   – Enhanced   Capital   Generation   Will   Fuel   Growth   Engine Source:   S&P   Capital   IQ   Pro.   Pro   forma   capital   generation   assumes   no   share   repurchases   through   the   projection   period.   Pro   forma   RWA   growth   in ‐ line   with   standalone   consensus   estimates.   Peer   median   CET1   Ratio   as   of   most   recent   quarter.   At   Close   reflects   pro   forma   capital   as   of   March   31,   2026. Page   23   –We   Will   Deliver   Top ‐ Tier   Performance Source:   S&P   Capital   IQ   Pro.   Estimate   information   as   of   July   21,   2025.   Pro   forma   revenue   growth   represents   combined   standalone consensus   revenue   for   both   Pinnacle   and   Synovus.   2027E   metrics   include   impacts   of   purchase   accounting.   Pro   forma   figures   reflect   fully ‐ phased   cost   savings.   Reflects   operating   efficiency   ratio   including   accretable yield.   Page   25   –...   To   Create   a   Growth   Champion   for   the   Long   Term Source:   FDIC   and   S&P   Capital   IQ   Pro.   FDIC   deposit   data   as   of   June   30,   2024   and   capped   at   $5   billion   per   branch.   Household   growth reflects   estimated   2025 ‐ 2030   (not   annualized);   growth   rate   reflects   deposit ‐ weighted   average   based   on   MSA ‐ level   deposits.   Reflects   operating   efficiency   ratio   including   accretable yield.   Page   28   –Pro   Forma   Loan   and   Deposit   Composition Represents   a   simple   summation   or   calculation   as   of   June   30,   2025   and   excludes   purchase   accounting   adjustments.   Yields   on   loans   and   cost   of   deposits   reflect   Q2’25   average.   Commercial   includes   C&I   and   Owner   Occupied   CRE.   CRE   includes   Non ‐ Owner ‐ Occupied   CRE,   Construction   and   Development   and   Multifamily.   Time   deposits   exclude   public   funds   and   brokered   deposits.   Page   30   – Purchase   Accounting   Summary Estimated   financial   impact   is   presented   for   illustrative   purposes   only.   Pro   forma   date   is   subject   to   various   assumptions   and   uncertainties.   Page   31   –Pro   Forma   Earnings   per   Share   Accretion Estimated   financial   impact   is   presented   for   illustrative   purposes   only.   Other   transaction   adjustments   includes   earnings   impact   of   future   potential   long ‐ term   debt   issuance   and   other   transaction   impacts.   Pro   forma   date   is   subject   to   various   assumptions   and   uncertainties.  

Fourth Quarter 2017 Investor Call M. Terry Turner, President and CEO Harold R. Carpenter, EVP and CFO January 17, 2018 Forward Looking Statements All statements, other than statements of historical fact, included in this presentation are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act and Section 21E of the Exchange Act. The words "expect," "anticipate," "intend," "plan," "believe," "seek," "estimate" and similar expressions are intended to identify such forward- looking statements, but other statements not based on historical information may also be considered forward-looking statements. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could cause the actual results to differ materially from the statements, including, but not limited to:(i) deterioration in the financial condition of borrowers resulting in significant increases in loan losses and provisions for those losses; (ii) continuation of the historically low short -term interest rate environment; (iii) the inability of Pinnacle Financial, or entities in which it has significant investments, like BHG, to maintain the historical growth rate of its, or such entities', loan portfolio; (iv) changes in loan underwriting, credit review or loss reserve policies associated with economic conditions, examination conclusions, or regulatory developments; (v) effectiveness of Pinnacle Financial'sasset management activities in improving, resolving or liquidating lower-quality assets; (vi) the impact of competition with other financial institutions, including pricing pressures (including those resulting from the Tax Cuts and Jobs Act) and the resulting impact on Pinnacle Financial’sresults, including as a result of compression to net interest margin; (vii) greater than anticipated adverse conditions in the national or local economies including in Pinnacle Financial's markets throughout Tennessee, North Carolina, South Carolina and Virginia,particularly in commercial and residential real estate markets; (viii) fluctuations or unanticipated changes in interest rates on loans or deposits or that affect the yield curve; (ix) the results of regulatory examinations; (x) the ability to retain large, uninsured deposits; (xi) a merger or acquisition, like Pinnacle Financial'smerger with BNC; (xii) risks of expansion into new geographic or product markets; (xiii) any matter that would cause Pinnacle Financial to conclude that there was impairment of any asset, including intangible assets; (xiv) reduced ability to attract additional financial advisors (or failure of such advisors to cause their clients to switch to Pinnacle Bank), to retain financial advisors (including as a result of the competitive compensation environment resulting from the Tax Cuts and Jobs Act) or otherwise to attract customers from other financial institutions; (xv) further deterioration in the valuation of other real estate owned and increased expenses associated therewith; (xvi) inability to comply with regulatory capital requirements, including those resulting from changes to capital calculation methodologies and required capital maintenance levels; (xvii) risks associated with litigation, including the applicability of insurance coverage;(xviii) the risk of successful integration of the businesses Pinnacle Financial has recently acquired with its business; (xix) approval of the declaration of any dividend by Pinnacle Financial'sboard of directors; (xx) the vulnerability of Pinnacle Bank's network and online banking portals, and the systems of parties with whom Pinnacle Financial contracts, to unauthorized access, computer viruses, phishing schemes, spam attacks, human error, natural disasters, power loss and other security breaches; (xxi) the possibility of increased compliance costs as a result of increased regulatory oversight, including oversightof companies in which Pinnacle Financial or Pinnacle Bank have significant investments, like BHG, and the development of additional banking products for Pinnacle Bank's corporate and consumer clients;(xxii) the risks associated with Pinnacle Financial and Pinnacle Bank being a minority investor in BHG, including the risk that the owners of a majority of the equity interests in BHG decide to sell the company if not prohibited from doing so by the terms of our agreement with them; (xxii) changes in state and federal legislation, regulations or policies applicable to banks and other financial service providers, like BHG, including regulatory or legislative developments; (xxiv) the risk that the cost savings and any revenue synergies from Pinnacle Financial'smerger with BNC may not be realized or take longer than anticipated to be realized; (xxv) disruption from Pinnacle Financial'smerger with BNC with customers, suppliers, employee or other business partners relationships; (xxvi) the risk of successful integrationof Pinnacle Financial'sand BNC's businesses; (xxvii) the amount of the costs, fees, expenses and charges related to Pinnacle Financial'smerger with BNC; (xxviii) reputational risk and the reaction of the parties' customers, suppliers, employees or other business partners to Pinnacle Financial'smerger with BNC; (xxix) the risk that the integration of Pinnacle Financial'sand BNC's operations will be materially delayed or will be more costly or difficult than expected; (xxx) the availability and access to capital; (xxxi) adverse results (including costs, fines, reputational harm and/or other negative effects) from current or future litigation, regulatory examinations or other legal and/or regulatory actions; and (xxxii) general competitive, economic, political and market conditions. Additional factors which could affect the forward looking statements can be found in Pinnacle Financial's Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K filed with the SEC and available on the SEC's website at http://www.sec.gov. Pinnacle Financial disclaims any obligation to update or revise any forward-looking statements contained in this presentation, which speak only as of the date hereof, whether as a result of new information, future events or otherwise. Safe Harbor Statements Non-GAAP Financial Matters This presentation contains certain non-GAAP financial measures, including, without limitation, earnings per diluted share, efficiency ratio, core net interest margin, noninterest expense and the ratio of noninterest expense to average assets and noninterest expense to the sum of net interest income and noninterest income, in each case excluding the impact of expenses related to other real estate owned, gains or losses on sale of investments, the revaluation of Pinnacle Financial’sdeferred tax assets and other matters for the accounting periods presented. This presentation also includes non-GAAP financial measures which exclude expenses associated with Pinnacle Financial'smergers with CapitalMarkBank & Trust, Magna Bank, Avenue Financial Holdings, Inc. and BNC, as well as Pinnacle Financial'sand its bank subsidiary's investments in BHG. This presentation may also contain certain other non-GAAP capital ratios and performance measures. These non-GAAP financial measures exclude the impact of goodwill and core deposit intangibles associated with Pinnacle Financial'sacquisitions of BNC, Avenue, Magna Bank, CapitalMarkBank & Trust, Mid-America Bancshares, Inc., Cavalry Bancorp, Inc. and other acquisitions which collectively are less material to the non-GAAP measure. The presentation of the non-GAAP financial information is not intended to be considered in isolation or as a substitute for any measure prepared in accordance with GAAP. Because non-GAAP financial measures presented in this presentation are not measurements determined in accordance with GAAP and are susceptible to varying calculations, these non-GAAP financial measures, as presented, may not be comparable to other similarly titled measures presented by other companies.PinnacleFinancial believes that these non-GAAP financial measures facilitate making period-to-period comparisons and are meaningful indications of its operating performance. In addition, becauseintangible assets such as goodwill and the core deposit intangible, and the other items excluded each vary extensively from company to company, Pinnacle Financial believes that the presentation of thisin formation allows investors to more easily compare Pinnacle Financial'sresults to the results of other companies. Pinnacle Financial'smanagement utilizes this non-GAAP financial information to compare Pinnacle Financial'soperating performance for historical periods versus certain periods in earlier years and to internally prepared projections. Safe Harbor Statements 18.5% 18.1% 18.7% 16.4% 12.9% Classified Asset Ratio 0.80% 0.62% 0.55% 0.40% 0.55% NPA/ Loans & OREO $20.55 $22.45 $28.25 $32.28 $47.70 Book Value per Share $4,533 $4,783 $6,971 $8,759 $16,452 Total Deposits (millions) 12.81% 13.52% 14.97% 15.49% 5.76% ROTCE $0.44 $0.53 $0.65 $0.78 $0.35 FD EPS $57,456 $64,697 $98,083 $120,156 211,219 Total Revenues $4,144 $4,590 $6,543 $8,450 $15,633 Total Loans (millions) 0.15% 0.08% 0.23% 0.21% 0.13% NCOs 4Q17 Summary Results –GAAPMeasures Balance Sheet Growth Earnings Growth Asset Quality 18.5% 18.1% 18.7% 16.4% 12.9% Classified Asset Ratio $13.52 $15.60 $17.46 $20.06 $23.71 Tangible Book Value per Share $4,102 $4,381 $6,333 $7,835 $14,257 Total Core Deposits (millions) $57,456 $64,697 $98,083 $120,156 $219,484 To t a l Revenues* $0.44 $0.53 $0.69 $0.83 $0.97 FD EPS* 12.79% 13.52% 15.81% 16.34% 16.11% ROTCE* 0.80% 0.62% 0.55% 0.40% 0.55% NPA/ Loans & OREO $4,144 $4,590 $6,543 $8,450 $15,633 Total Loans (millions) 0.15% 0.08% 0.23% 0.21% 0.13% NCOs ---: Reflects historical operating ranges for NPA/ Loans & OREO and Classified Asset Ratio. Reflects target ranges resulting from the annual corporate strategic planning process for NCOs. *: excluding merger-related charges, gains and losses on sales of investment securities and revaluation of deferred tax assets Note: For a reconciliation of these Non-GAAP financial measures to the comparable GAAP measure, see slides 28 –32. 4Q17 Summary Results – Non-GAAPMeasures Balance Sheet Growth Earnings Growth Asset Quality 6 Pinnacle sets and delivers against lofty strategic targets 4Q17 Summary Results Pinnacle Targeted Operating Range GAAP Non-GAAP (1 ) For the fourth quarter of 2017 Return on Average Assets1.30% to 1.50%0.48%1.36% Net Interest Margin3.60% to 3.80%3.76%3.76% Noninterest Income to Avg. Assets0.90% to 1.10%0.66%0.81% Noninterest Expense to Avg. Assets1.80% to 2.00%2.22%1.87% Net Charge-off Ratio0.20% to 0.35%0.13%0.13% For the year ended Dec. 31, 2017 Return on Average Assets1.30% to 1.50%1.10%1.36% Net Interest Margin3.60% to 3.80%3.76%3.76% Noninterest Income to Avg. Assets0.90% to 1.10%0.90%0.93% Noninterest Expense to Avg. Assets1.80% to 2.00%2.16%2.00% Net Charge-off Ratio0.20% to 0.35%0.16%0.16% (1) Non-GAAP amounts exclude net gains and losses on the sale of investment securities, ORE expense, merger-related charges and the impact of revaluation of deferred tax assets. For a reconciliation of these Non-GAAP financial measures to the comparable GAAP measure, see slides 28 – 32. PNFP continued rapid growth and hiring while completing the BNC integration 1.Pinnacle / BNC merger update •Jan. 22 – Announcement of transaction •June 16 – Merger close •Nov. 30 – Technology conversion •First quarter 2018 – Synergy case fully deployed 2.Aggressive hiring plan– In 2017, added 77 revenue producers to our roster, of which 27 were in the BNC markets, including 13 since the closing of the merger. 3.Strong loan and deposit growth – •4Q17 net loan growth of $373 million, deposit growth of $662 million •YTD net loan growth of $1.73 billion * , deposit growth of $1.61 billion * includes net loan growth for BNC prior to merger 4Q17 Summary Results 8 Loan and Deposit Growth are Keys to Earnings Growth Strong performance continues in both total revenues and revenues per share* $1.31 $2.83 $1.00 $1.50 $2.00 $2.50 $3.00 $3.50 $- $50 $100 $150 $200 $250 Revenues per diluted share* To t a l Revenues* (000's) Fee incomeNIITotal revenue per share *: Excluding gains and losses on sales of investment securities **: Decline in revenue per share a result of equity issuance during the first quarter of 2017 9 Linked-quarter loan growth remains strong $3,191 $3,212 $3,207 $3,262 $3,280 $3,403 $3,489 $3,580 $3,682 $3,845 $3,932 $3,981 $4,130 $4,251 $4,358 $4,436 $4,625 $4,737 $5,690 $6,458 $6,742 $6,998 $8,233 $8,357 $8,558 $9,817 $15,017 $15,520 4.88% 4.87% 1.00% 2.00% 3.00% 4.00% 5.00% $- $4,000 $8,000 $12,000 $16,000 Loan Yields Average Loans (millions) Avg. LoansLoan Yields Loan and Deposit Growth are Keys to Earnings Growth 10 Average deposit balances continued strong organic growth $3,772 $3,723 $3,700 $3,642 $3,597 $3,636 $3,706 $3,883 $3,950 $3,963 $4,199 $4,408 $4,510 $4,519 $4,655 $4,758 $4,792 $4,885 $5,898 $6,787 $7,037 $7,093 $8,454 $8,791 $9,099 $10,394 $15,828 $16,092 1.25% 1.01% 0.53% 0.00% 0.20% 0.40% 0.60% 0.80% 1.00% 1.20% 1.40% 1.60% 1.80% $- $2,000 $4,000 $6,000 $8,000 $10,000 $12,000 $14,000 $16,000 $18,000 Cost of Deposits Avg. Deposits (millions) Avg. DepositsFed Funds TargetCost of Deposits Loan and Deposit Growth are Keys to Earnings Growth 11 Fee businesses produce another strong quarter 4Q173Q172Q171Q174Q16 Service charges$6,078$5,921$4,179$3,856$3,850 Investment services4,7233,6603,1102,8223,320 Insurance commissions1,9612,1241,4611,8591,178 Gain on mortgage loans sold, net3,8395,9634,6684,1552,869 Trust fees2,6452,6361,6771,7051,734 Income from equity method investment12,4448,9378,7557,8238,136 Other: Securities gains (losses) (8,264)---395 Interchange and other consumer fees8,4997,3937,5586,1516,171 Bank-owned life insurance2,8292,6231,3951,099952 Loan swap fees1881,011336261495 Other1,5462,7091,9186511,643 Total noninterest income$36,488$42,977$35,057$30,382$30,743 Noninterest income/Average Assets0.66%0.80%1.05%1.08%1.11% Core noninterest income**$44,753$42,977$35,057$30,382$30,348 Core Noninterest Income**/Total Average Assets0.81%0.80%1.05%2.17%2.14% Fee Businesses also Contribute to Earnings Growth ** : Excludes the impact of gains and losses on sales of investment securities 12 4Q17 core expense results reflect enviable operating leverage 4Q173Q172Q171Q174Q16 Salaries and benefits$ 63,347$64,288$43,676$38,352$37,994 Equipment and occupancy17,11416,59010,7139,6759,228 Other real estate owned2525126325244 Marketing and business development2,0932,2222,1271,8792,386 Postage and supplies1,6621,7551,1221,1961,000 Intangible amortization3,0713,0771,4721,1961,137 Merger-related charges19,1038,8473,2216723,264 Other expenses16,33212,4449,4048,8317,712 Total noninterest expense$122,973$109,735$71,798$62,053$62,765 Efficiency ratio58.2%50.8%50.7%52.1%52.2% Expense/Total Average Assets2.22%2.05%2.16%2.20%2.26% Core noninterest expense **$103,618$100,376$68,514$61,130$59,457 Core efficiency ratio **47.2%46.4%48.4%51.3%49.6% Core Noninterest Expense**/Total Average Assets1.87%1.88%2.06%2.17%2.14% ** : Excludes the impact of OREO expense and merger-related charges PNFP Focuses on Strategic Expense Management 13 Extraordinary Growth Potential on the Path Forward $0.43 Net income before taxes Effective Tax Rate Tax Expense Net income FDEPS 2017 results, as reported297,986$ 41.62%124,007$ 173,979$ 2.70$ Items impacting 2017 results Merger expense31,843$ 12,492$ 19,351$ Investment securities losses8,265$ 3,242$ 5,023$ Deferred tax asset revaluation-$ ( 31,486)$ 31,486$ Adjusted 2017 results for above items338,094$ 32.02%108,255$ 229,839$ 3.57$ ( 33,500)$ 33,500$ Adjusted 2017 results after Tax Cut and Jobs Act338,094$ 22.11%74,755$ 263,339$ 4.09$ Estimated TJCA "Investments" (#)( 8,000)$ 26.14%( 2,091)$ ( 5,909)$ Adjusted 2017 results after Tax Cut and Jobs Act330,094$ 22.01%72,665$ 257,429$ 4.00$ (*) Inclusive of nondeductible F DIC insurance, entertainment and other ex penses which were previously deductible Estimated "pro forma" impact to 2017 results had TCJA been effective as of January 1, 2017 (*) (#) Tax Act investments include increasing the company-provided 401k plan match, setting aside additional funds for new hires and client retention/attraction and accelerating certain technology investments. 14 The BNC integration overall is on-track and highly accretive Extraordinary Growth Potential on the Path Forward •The system integration has been completed •Cultural integration is well underway •Hiring thrust is strong and building •Potential revenue synergies are meaningful •Synergy case is largely complete – final by end of 1Q18 15 Recent market extensions provide roadmap for Carolinas & Virginia Extraordinary Growth Potential on the Path Forward MarketAt 12/31/17At 12/31/16YOY GrowthAt 12/31/15YOY Growth Loans (000’s)Memphis$1,101 $736 49.5%$458 60.7% Chattanooga$1,079 $80034.9%$70813.0% Core Deposits (000’s) Memphis $824 $661 24.7%$385 71.7% Chattanooga$710 $559 27.0%$505 10.7% Revenue Producers Memphis 684744.7%4017.5% Chattanooga393414.7%23 47.8% 16 PNFP is focused on rapid growth across the Southeast 1.Continuation of current high growth, high profit plan 2.Explore expansion to other high growth southeastern markets Long-Term Shareholder Value Q&A – Fourth Quarter 2017 Investor Call Supplemental Information 18 Chart •Balance Sheet19 •Asset Quality26 •Income Statement27 Loan portfolio is well diversified 19 Amts. 4Q17 %’s(*) 4Q17 Amts. 3Q17 %’s(*) 3Q17 Amts. 4Q16 %’s(*) 4Q16 Amts. 4Q15 %’s(*) 4Q15 C&D and Land $1,908.312.2%$1,939.812.7%$912.710.8%$747.711.4% Consumer RE 2,561.216.4%2,541.116.7%1,185.914.0%1,046.516.0% CRE – Owner Occ. 2,460.015.7%2,433.815.9%1,354.916.0%1,083.516.6% CRE – Investment 3,564.022.8%3,398.422.3%1,444.217.1%953.514.6% Other RE loans (Multi-Family) 645.54.1%617.94.0%394.44.7%238.53.6% Total real estate 11,139.171.2%10,931.071.6%5,292.162.6%4,069.762.2% C&I 4,141.326.5%3,971.326.0%2,891.734.2%2,228.534.1% Other loans352.72.3%357.52.4%266.13.1%245.03.7% Total loans $15,633.1100.0%$15,259.8100.0%$8,449.9100.0%$6,543.2100.0% (*) as a percentage of total loans Balance Sheet (*) as a percentage of total loans 20 Construction portfolio reflects discipline Amounts 4Q17 %’s(*) 4Q17 Amounts 3Q17 %’s(*) 3Q17 Amts. 4Q16 %’s(*) 4Q16 Amts. 4Q15 %’s(*) 4Q15 Residential – Spec $278.71.8%$253.31.7%$195.72.3%$126.11.9% Residential – Custom 95.90.6%157.41.0%81.91.0%54.10.8% Residential – Condo 0.60.0%13.30.1%5.20.1%7.10.1% Commercial Construct. 1,057.36.8%1,030.86.8%347.14.1%364.65.6% Land Dev– Residential 157.51.0%191.41.3%116.31.4%74.51.1% Land Dev – Commercial 208.91.3%190.21.2%162.71.9%99.11.8% Land Dev - BNC Resi/Com. Combined 25.70.2%56.40.4% ---- Land – Unimproved 83.70.5%47.00.3%3.80.1%2.10.0% To t a l C & D 1,908.312.2%$1,939.812.8%$912.710.8%$727.611.3% Balance Sheet Balance Sheet The CRE loan portfolio remains within the 100/300 guidelines 21 Description12/31/20179/30/20176/30/20173/31/1712/31/16 Loans secured by real estate: Construction, land development, and other loans: 1- 4 family residentialconstruction loans$445,077$423,988$408,035$303,219$282,738 Other constructionloans and all land development and other land loans1,463,2111,515,8211,363,014711,909629,935 Loans included in the 100% test$1,908,288$1,939,809$1,771,049$1,015,128$912,673 Securedby multifamily (5 or more) residential properties$669,054$638,285$672,979$411,028$416,987 Loans securedby other nonfarm nonresidential properties3,564,0483,398,3813,357,1201,386,3981,444,203 Financed realestate not secured by real estate *198,769198,769186,505169,889135,957 Loansincluded in the 300% test$6,340,159$6,175,244$5,987,653$2,982,443$2,909,820 Total Risk Based Capital$2,134,344$2,129,643$2,081,349$1,349,947$1,136,782 %ofRisk Based Capital NOOCRE + Secured by multi-family 89%91%85%75%80% 300% Test - NOOCRE + Multifamily + Construction297%290%288%221%256% *estimated for 12/31/17 Balance Sheet 22 PNFP remains focused on relationship funding 12/31/2017Percent9/30/2017Percent12/31/2016Percent CoreFunding: Non-interest bearing deposits$4,381,38623.85%$4,099,08622.76%$2,399,19124.99% Interest-bearing deposits2,756,50615.00%2,473,90213.74%1,737,99618.10% Money Market accounts5,847,65031.83%5,589,25431.04%3,185,18633.17% Time deposits less than $250,0001,260,1626.86%1,226,9526.81%512,5995.34% Total Core Funding14,245,70477.54%$13,389,19474.35%$7,834,97381.60% Relationship based non-core funding: Reciprocal NOW deposits77,4720.42%61,3860.34%30,3280.32% Reciprocal MMDA deposits408,8062.23%456,6222.53%519,7695.41% Time deposits Reciprocal time deposits106,2270.58%109,0040.61%58,8380.61% Other time deposits444,9512.42%394,5932.19%198,6892.07% Securities sold under agreements to repurchase135,2620.74%129,5570.72%85,7070.89% Total relationship based non-core funding1,172,7186.39%1,151,1626.39%893,3319.30% Wholesale funding: Brokered deposits445,8222.43%586,2413.26%49,9830.52% Brokered time deposits722,7213.93%792,5454.40%66,7270.69% FHLB advances1,319,9097.18%1,623,9479.02%406,3044.23% Sub Debt and other funding465,5052.53%465,4602.58%350,7683.65% Total wholesale funding2,953,95616.07%3,468,19319.26%823,7998.58% Total non-core funding4,126,67422.46%4,619,35525.65%1,767,11318.40% Totals $18,372,378100.00%$18,008,549100.00%$9,602,086100.00% 23 Balance Sheet The securities book yields increase in 4Q17 3.58% 2.68% 20.75% 13.00% 0.00% 5.00% 10.00% 15.00% 20.00% 25.00% 30.00% 35.00% 40.00% 0.00% 0.50% 1.00% 1.50% 2.00% 2.50% 3.00% 3.50% 4.00% Bond Yields% of Avg. Assets Conservative bond portfolio Balance Sheet 24 Portfolio: December 31, 2017 Total Investments $2.536 billion Unrealized Gain (Loss)$ (1.8) million QTD Purchases$ 31.9 million QTD Sales$ 308.9million 1.2% 2.8% 44.0% 7.1% 14.0% 30.9% AgencyCorporatesMBS Asset BackedCMOsMunicipals As of12/31/2017Book YieldEffective Duration Agency/Treasury1.21%0.96% Asset Backed2.82%0.03% Corporates4.31%3.51% CMOs2.17%3.59% MBS2.39%2.87% Municipals3.35%5.37% Total2.68%3.49% ●Investment portfolio at $2.536 billion, down$365 million vs Q3 due to restructure of portfolio. Buy side of restructure will occur in 1Q18. ●Duration steady in mid 3% range ●Investmentsto Total Assets of 11.5% QuarterDurationAvg. Yield- TE 4Q173.5%2.7% 3Q173.5%2.6% 2Q173.3%2.5% 1Q173.4%2.4% 4Q163.2%2.3% 3Q162.8%2.3% 2Q162.4%2.5% 1Q162.7%2.6% 25 Asset quality remains very sound (*) >30 days past due (000’s) Dec. 31, 2017As a % of totalloans Sept. 30, 2017As a % of totalloans Dec. 31, 2016As a % of totalloans PastDue Loans (*) Nonaccrualloans$11,6910.07%$20,2100.13%$10,8730.13% Accruing loans60,1590.38%39,0810.26%22,3310.26% Total pastdue$71,8500.46%$59,2910.39%$33,2040.39% NPLs and > 90 days Const. and land development $6,1140.04%$6,6320.04%$6,6130.08% Consumer RE 19,3810.12%22,0600.15%8,1270.10% CRE – Owner Occupied 12,6050.08%12,4260.08%4,2540.05% CRE – Investment 3020.00%4,5650.03%6660.01% Total real estate 41,6640.27%45,6830.30%19,6610.23% C&I 18,6570.12%9,8610.06%7,4950.09% Other1,2730.01%1,1330.01%1,5560.02% Total loans $61,5940.39%$56,6770.37%$28,7110.34% Classified loans and ORE Substandard commercial loans$ 211,3081.35%$202,9981.33%$148,4601.76% Doubtful commercial loans(9)0.00%8290.01%10.00% Other impaired loans15,3290.10%22,8580.15%9,8200.12% 90 days past due and accruing (*)4,1390.03%3,2640.02%1,1340.01% Other real estate27,8310.18%24,3390.16%6,0900.07% Other repossessed assets1970.00%3430.00%-0.00% Total$ 258,795 1.66%$254,6311.67%165,5051.96% Pinnacle Bank classified asset ratio12.9%12.7%16.4% Asset Quality 26 Core net interest margin growth key to achieving profitability targets 3.72% 3.70% 3.60% 3.68% 3.87% 3.76% 3.64% 3.46% 3.41% 3.44% 3.45% 3.33% $0 $50,000 $100,000 $150,000 $200,000 0.00% 1.00% 2.00% 3.00% 4.00% Net Interest Margin Reported NIMNIM excl. PAA loan markRemaining Loan Mark Income Statement Remaining Loan Mark Income Statement Mortgage volumes continue to be strong 4Q17 27 0.00% 1.00% 2.00% 3.00% 4.00% 5.00% 6.00% 25,000 75,000 125,000 175,000 225,000 275,000 325,000 Purchase MoneyRefinanceGross fees as a % of loans originated Income Statement 28 4Q173Q172Q171Q174Q16 Net interest income $174,731$173,182$106,627$88,767$89,413 Total noninterest income 36,48842,97735,05730,38230,743 Total revenues $211,219$216,159$141,684$119,149$120,156 Less: Investment (gains) losses on sales of securities, net 8,265---(395) Total revenues, excluding investment (gains) losses on sales of securities, net $219,484$216,159$141,684$119,149$119,761 Total noninterest expense$122,973$109,736$71,798$62,054$62,765 Less: ORE expenses2525126325244 Merger-related charges19,1038,8473,2216723,264 Core noninterest expense, excluding the impact of ORE expense and merger-related charges$103,618$100,377$68,514$61,130$59,457 Adjusted pre-tax pre-provision income$115,866$115,782$73,170$58,019$60,304 Efficiency ratio58.2%50.8%50.7%52.1%52.2% Adjustment due to securities gains, ORE expense and merger-related charges (11.0%)(4.4%)(2.3%)(0.8%)(2.6%) Core Efficiency ratio47.2%46.4%48.4%51.3%49.6% Noninterest income/ Average assets0.66%0.80%1.05%1.08%1.11% Adjustment due to investment (gains) losses on sales of securities, net0.15%---(0.02%) Noninterest income, excluding the impact of net gains on sale of investment securities/ Average Assets0.81%0.80%1.05%1.08%1.09% Noninterest expense/ Average assets2.22%2.05%2.16%2.20%2.26% Adjustment due to ORE expense and merger-related charges(0.35%)(0.17%)(0.10%)(0.03%)(0.12%) Core noninterest expense, excluding ORE expense and merger-related charges/ Average Assets1.87%1.88%2.06%2.17%2.14% Reconciliation of Non-GAAP measures Income Statement 29 4Q173Q172Q171Q174Q16 Net income $26,798$64,442$43,086$39,653$36,097 Merger-related charges19,1038,8473,2216723,264 Investment (gains) losses on sales of securities8,265---(395) Tax effect on merger-related charges and investment (gains) losses on sales of securities(10,736)(3,471)(1,264)(264)(1,126) Revaluation of deferred tax assets31,486---- Net income excluding merger-related charges, investment (gains) losses on sales of securities and revaluation of deferred tax assets$74,916$69,818$45,043$40,061$37,840 Basic earnings per share $0.35$0.84$0.81$0.83$0.79 Adjustment to basic earnings per share due to merger-related charges, investment (gains) losses on sales of securities and revaluation of deferred tax assets0.630.070.040.010.04 Basic earnings per share excluding merger-related charges, investment (gains) losses on sales of securities and revaluation of deferred tax assets $0.98$0.91$0.85$0.84$0.83 Diluted earnings per share$0.35$0.83$0.80$0.82$0.78 Adjustment to diluted earnings per share due to merger-related charges, investment (gains) losses on sales of securities and revaluation of deferred tax assets 0.620.070.040.010.04 Diluted earnings per share excluding merger-related charges, investment (gains) losses on sales of securities and revaluation of deferred tax assets $0.97$0.90$0.84$0.83$0.82 Book value per share$47.70$47.31$46.56$34.61$32.28 Adjustment due to goodwill, core deposit and other intangible assets(23.99)(23.99)(23.98)(11.36)(12.22) Tangible book value per share$23.71$23.32$22.58$23.25$20.06 Reconciliation of Non-GAAP measures Income Statement 30 Reconciliation of Non-GAAP measures 4Q173Q172Q171Q174Q16 Net income $26,798$64,442$43,086$39,653$36,097 Merger-related charges19,1038,8473,2216723,264 Investment (gains) losses on sales of securities8,265---(395) Tax effect on merger-related charges and investment (gains) losses on sales of securities(10,736)(3,471)(1,264)(264)(1,126) Revaluation of deferred tax assets31,486---- Net income excluding merger-related charges, investment (gains) losses on sales of securities and revaluation of deferred tax assets $74,916$69,818$45,043$40,061$37,840 Average stockholders’ equity $3,706,741$3,655,029$2,057,505$1,657,072$1,493,684 Less: Average goodwill (1,803,546)(1,800,761)(760,646)(551,548)(551,042) Average core deposit and other intangible assets (58,192)(59,521)(23,957)(14,674)(15,724) Net average tangible common equity $1,845,003$1,794,747$1,272,902$1,090,850$926,918 Return on average common equity2.87%6.99%8.40%9.70%9.61% Adjustment due to goodwill, core deposit and other intangible assets2.89%7.26%5.18%5.04%5.88% Return on average tangible common equity5.76%14.25%13.58%14.74%15.49% Adjustment due to merger-related charges, investment (gains) losses on sales of securities and revaluation of deferred tax assets10.35%1.18%0.61%0.15%0.75% Return on average tangible common equity (excludingmerger-related charges, investment (gains) losses on sales of securities and revaluation of deferred tax assets)16.11%15.43%14.19%14.89%16.24% Total average assets$21,933,500$21,211,459$13,335,359$11,421,654$11,037,555 Income Statement 31 Reconciliation of Non-GAAP measures 4Q173Q172Q171Q174Q16 Net income $26,798$64,442$43,086$39,653$36,097 Merger-related charges 19,1038,8473,2216723,264 Investment (gains) losses on sales of securities 8,265---(395) Tax effect on merger-related charges and investment (gains) losses on sales of securities (10,736)(3,471)(1,264)(264)(1,126) Revaluation of deferred tax assets 31,486---- Net income excluding merger-related charges, investment (gains) losses on sales of securities and revaluation of deferred tax assets $74,916$69,818$45,043$40,061$37,840 Average assets $22,505,700$21,211,459$13,335,35911,421,65411,037,555 Less: Average goodwill (1,808,002)(1,800,761)(760,646)(551,548)(551,042) Average core deposit and other intangible assets (56,710)(59,781)(23,957)(14,674)(15,724) Net average tangible assets $20,340,988$19,351,177$12,550,75610,855,43210,470,789 Return on average assets 0.48%1.21%1.30%1.41%1.30% Adjustment due to goodwill, core deposit and other intangible assets 0.05%0.11%0.08%0.06%0.06% Return on average tangible assets 0.53%1.32%1.38%1.47%1.36% Adjustment due to merger-related charges, investment (gains) losses on sales of securities and revaluation of deferred tax assets0.95%0.11%0.06%0.01%0.08% Return on average tangible assets (excludingmerger-related charges, investment (gains) losses on sales of securities and revaluation of deferred tax assets)1.48%1.43%1.44%1.48%1.44% Income Statement 32 Reconciliation of Non-GAAP measures 4Q173Q172Q171Q174Q16 Revenue per diluted share $2.73$2.80$2.64$2.46$2.61 Adjustment due to investment (gains) losses on sales of securities, net0.10---(0.01) Revenue per diluted share (excluding investment (gains) losses on sales of securities, net) $2.83$2.80$2.64$2.46$2.60 Net interest margin3.76%3.87%3.68%3.60%3.72% Adjustment due to accretion from fair value accounting0.43%0.45%0.23%0.21%0.32% Core net interest margin3.33%3.42%3.45%3.39%3.40% Selected Economic Data 33 Selected economic information (in thousands):Dec. 2017Sept.2017June 2017Mar. 2017Dec. 2016Sept. 2016 Charleston MSA nonfarm employment - October1,183.7 1,183.0 1,179.4 1,170.6 1,167.7 1,160.9 Nashville MSA nonfarm employment - October986.6 986.2 975.1 977.1 968.5 957.8 Memphis MSA nonfarm employment - October645.3 644.3 648.1 646.4 644.7 641.3 Raleigh MSA nonfarm employment - October 625.6 624.9 617.9 612.0 609.3 606.6 Knoxville MSA nonfarm employment - October396.2 397.7 391.3 393.8 395.5 394.1 Greensboro MSA nonfarm employment - October361.5 362.9 362.9 362.5 360.8 358.4 Charlotte MSA nonfarm employment - October356.5 353.6 352.5 354.2 350.9 349.4 Winston-Salem MSA nonfarm employment - October261.7 261.6 260.8 263.2 261.6 262.1 Chattanooga MSA nonfarm employment - October259.7 258.8 260.7 256.3 254.6 252.2 Roanoke MSA nonfarm employment - October164.7 164.8 164.7 164.1 162.4 162.4 Greenville MSA nonfarm employment - October78.9 78.6 78.6 78.9 79.1 79.5 Charleston MSA unemployment - November 4.20%3.90%3.90%4.50%4.70%4.80% Nashville MSA unemployment - November2.80%2.30%2.80%3.70%4.10%4.10% Memphis MSA unemployment - November4.10%3.70%4.30%5.00%5.50%5.60% Raleigh MSA unemployment - November 3.90%3.60%3.60%4.20%4.40%4.40% Knoxville MSA unemployment - November3.40%2.90%3.50%4.50%4.90%4.90% Greensboro MSA unemployment - November4.70%4.40%4.30%5.00%5.20%5.30% Charlotte MSA unemployment - November3.50%3.20%3.20%3.70%3.70%3.90% Winston-Salem MSA unemployment - November4.30%4.00%4.00%4.60%4.90%4.90% Chattanooga MSA unemployment - November3.60%3.40%3.90%4.60%5.20%5.30% Roanoke MSA unemployment - November3.80%3.70%3.80%3.60%4.00%4.20% Greenville MSA unemployment - November4.90%4.50%4.50%5.30%5.60%5.50% Charleston, SC residential median home price - November$379 369 360 365 349 350 Nashville, TN residential median home price - November$340 329 339 325 304 299 Memphis, TN residential median home price -November$89 90 88 77 78 82 Raleigh, NC residential median home price -November $336 309 299 299 280 275 Knoxville, TN residential median home price - November$209 195 197 185 175 174 Greensboro, NC residential median home price - November$179 179 184 173 163 157 Charlotte, NC residential median home price -November$285 270 284 265 254 247 Winston-Salem, NC residential median home price - November$164 159 164 159 149 148 Chattanooga, TN residential median home price - November$200 209 225 199 194 184 Roanoke, VA residential median home price - November$170 175 171 164 150 160 Greenville, NC residential median home price - November$158 153 155 147 146 144 Fourth Quarter 2017 Investor Call M. Terry Turner, President and CEO Harold R. Carpenter, EVP and CFO January 17, 2018

First   Quarter   2018 Investor   Call M.   Terry   Turner,   President   and   CEO Harold   R.   Carpenter,   EVP   and   CFO April   17,   2018 Forward   Looking   Statements   All   statements,   other   than   statements   of   historical   fact,   included   in   this   presentation,   are   forward ‐ looking   statements   within   the   meaning   of   the   Private   Securities   Litigation   Reform   Act   of   1995,   Section   27A   of   the   Securities   Act   and   Section   21E   of   the   Exchange   Act.   The   words   "expect,"   "anticipate,"   "intend,"   "plan,"   "believe,"   "seek,"   "estimate"   and   similar   expressions   are   intended   to   identify   such   forward ‐ looking   statements,   but   other   statements   not   based   on   historical   information   may   also   be   considered   forward ‐ looking   statements.   These   forward ‐ looking   statements   are   subject   to   known   and   unknown   risks,   uncertainties   and   other   factors   that   could   cause   the   actual   results   to   differ   materially   from   the   statements,   including,   but   not   limited   to: (i)   deterioration   in   the   financial   condition   of   borrowers   resulting   in   significant   increases   in   loan   losses   and   provisions   for   those   losses;   (ii)   continuation   of   the   historically   low   short ‐ term   interest   rate   environment;   (iii)   the   inability   of   Pinnacle   Financial,   or   entities   in   which   it   has   significant   investments,   like   BHG,   to   maintain   the   historical   growth   rate   of   its,   or   such   entities',   loan   portfolio;   (iv)   changes   in   loan   underwriting,   credit   review   or   loss   reserve   policies   associated   with   economic   conditions,   examination   conclusions,   or   regulatory   developments;   (v)   effectiveness   of   Pinnacle   Financial's asset   management   activities   in   improving,   resolving   or   liquidating   lower ‐ quality   assets;   (vi)   the   impact   of   competition   with   other   financial   institutions,   including   pricing   pressures   (including   those   resulting   from   the   Tax   Cuts   and   Jobs   Act)   and   the   resulting   impact   on   Pinnacle   Financial’s results,   including   as   a   result   of   compression   to   net   interest   margin;   (vii)   greater   than   anticipated   adverse   conditions   in   the   national   or   local   economies   including   in   Pinnacle   Financial's markets   throughout   Tennessee,   North   Carolina,   South   Carolina   and   Virginia, particularly   in   commercial   and   residential   real   estate   markets;   (viii)   fluctuations   or   unanticipated   changes   in   interest   rates   on   loans   or   deposits   or   that   affect   the   yield   curve;   (ix)   the   results   of   regulatory   examinations;   (x)   the   ability   to   grow   and   retain   low ‐ cost   core   deposits   and   retain   large,   uninsured   deposits;   (xi)   a   merger   or   acquisition;   (xii)   risks   of   expansion   into   new   geographic   or   product   markets;   (xiii)   any   matter   that   would   cause   Pinnacle   Financial   to   conclude   that   there   was   impairment   of   any   asset,   including   intangible   assets;   (xiv)   reduced   ability   to   attract   additional   financial   advisors   (or   failure   of   such   advisors   to   cause   their   clients   to switch   to   Pinnacle   Bank),   to   retain   financial   advisors   (including   as   a   result   of   the   competitive   environment   resulting   from   the   Tax   Cuts   and   Jobs   Act)   or   otherwise   to   attract   customers   from   other   financial   institutions;   (xv)   further   deterioration   in   the   valuation   of   other   real   estate   owned   and   increased   expenses   associated   therewith;   (xvi)   inability   to   comply   with   regulatory   capital   requirements,   including   those   resulting   from   changes   to   capital   calculation   methodologies,   required   capital   maintenance   levels   or   regulatory   requests   or   directives,   particularly   if   Pinnacle   Financial's level   of   applicable   commercial   real   estate   loans   continues   to   exceed   percentage   levels   of   total   capital   in   guidelines   recommended   by   its   regulators;   (xvii)   risks   associated   with   litigation,   including   the   applicability   of   insurance   coverage;   (xviii)   the   risk   of   successful   integration   of   the   businesses   Pinnacle   Financial   has   recently   acquired   with   its   business;   (xix)   approval   of   the   declaration   of   any   dividend   by   Pinnacle   Financial's board   of   directors;   (xx)   the   vulnerability   of   Pinnacle   Bank's   network   and   online   banking   portals,   and   the   systems   of   parties   with   whom   Pinnacle   Financial   contracts,   to   unauthorized   access,   computer   viruses,   phishing   schemes,   spam   attacks,   human   error,   natural   disasters,   power   loss   and   other   security   breaches;   (xxi)   the   possibility   of   increased   compliance   costs   as   a   result   of   increased   regulatory   oversight,   including   oversight of   companies   in   which   Pinnacle   Financial   or   Pinnacle   Bank   have   significant   investments,   like   BHG,   and   the   development   of   additional   banking   products   for   Pinnacle   Bank's   corporate   and   consumer   clients; (xxii)   the   risks   associated   with   Pinnacle   Financial   and   Pinnacle   Bank   being   a   minority   investor   in   BHG,   including   the   risk   that   the   owners   of   a   majority   of   the   equity   interests   in   BHG   decide   to   sell   the   company   if   not   prohibited   from   doing   so   by   the   terms   of   our   agreement   with   them;   (xxii)   changes   in   state   and   federal   legislation,   regulations   or   policies   applicable   to   banks   and   other   financial   service   providers,   like   BHG,   including   regulatory   or   legislative   developments;   (xxiv)   the   risk   that   the   cost   savings   and   any   revenue   synergies   expected   from   Pinnacle   Financial's merger   with   BNC   may   not   be   realized   or   take   longer   than   anticipated   to   be   realized;   (xxv)   disruption   from   Pinnacle   Financial's merger   with   BNC   with   customers,   suppliers,   employee   or   other   business   partners   relationships;   (xxvi)   the   risk   of   successful   integration   of   Pinnacle   Financial's and   BNC's   businesses;   (xxvii)   reputational   risk   and   the   reaction   of   the   parties'   customers,   suppliers,   employees   or   other   business   partners   to   Pinnacle   Financial's merger   with   BNC;   (xxviii)   the   risk   that   the   integration   of   Pinnacle   Financial's and   BNC's   operations   will   be   more   costly   or   difficult   than   expected;   (xxix)   the   availability   and   access   to   capital;   (xxx)   adverse   results   (including   costs,   fines,   reputational   harm   and/or   other   negative   effects)   from   current   or   future   litigation,   regulatory   examinations   or   other   legal   and/or   regulatory   actions;   and   (xxxi)   general   competitive,   economic,   political   and   market   conditions.   Additional   factors   which   could   affect   the   forward   looking   statements   can   be   found   in   Pinnacle   Financial's Annual   Report   on   Form   10 ‐ K,   Quarterly   Reports   on   Form   10 ‐ Q,   and   Current   Reports   on   Form   8 ‐ K   filed   with   the   SEC   and   available   on the   SEC's   website   at   http://www.sec.gov.   Pinnacle   Financial   disclaims   any   obligation   to   update   or   revise   any   forward ‐ looking   statements   contained   in   this   presentation,   which   speak   only   as   of   the   date   hereof,   whether   as   a   result   of   new   information,   future   events   or   otherwise. Safe   Harbor   Statements Non ‐ GAAP   Financial   Matters This   presentation   contains   certain   non ‐ GAAP   financial   measures,   including,   without   limitation,   revenues,   earnings   per   diluted   share,   efficiency   ratio,   core   net   interest   margin,   loan   yields,   noninterest   expense   and   the   ratio   of   noninterest   expense   to   average   assets   and   noninterest   expense   to   the   sum   of   net   interest   income   and   noninterest income,   in   each   case,   as   applicable,   excluding   the   impact   of   expenses   and   income   related   to   other   real   estate   owned,   gains   or   losses   on   sale   of   investments,   the   revaluation   of   Pinnacle   Financial’s deferred   tax   assets,   the   accretion   from   the   application   of   fair   value   accounting   for   acquired   loans   and   deposits   and   other   matters   for   the   accounting   periods   presented.   This   release   also   includes   non ‐ GAAP   financial   measures   which   exclude   expenses   associated   with   Pinnacle   Bank's   mergers   with   CapitalMark Bank   &   Trust,   Magna   Bank,   Avenue   Financial   Holdings,   Inc.   and   Bank   of   North   Carolina   (BNC),   as   well   as   Pinnacle   Financial's and   its   bank   subsidiary's   investments   in   BHG.   This   release   may   also   contain   certain   other   non ‐ GAAP   capital   ratios   and   performance   measures.   These   non ‐ GAAP   financial   measures   exclude   the   impact   of   goodwill   and   core   deposit   intangibles   associated   with   Pinnacle   Financial's acquisitions   of   BNC,   Avenue,   Magna   Bank,   CapitalMark Bank   &   Trust,   Mid ‐ America   Bancshares,   Inc.,   Cavalry   Bancorp,   Inc.   and   other   acquisitions   which   collectively   are   less   material   to   the   non ‐ GAAP   measure.   The   presentation   of   the   non ‐ GAAP   financial   information   is   not   intended   to   be   considered   in   isolation   or   as   a   substitute   for   any   measure   prepared   in   accordance   with   GAAP.   Because   non ‐ GAAP   financial   measures   presented   in   this   release   are   not   measurements   determined   in   accordance   with   GAAP   and   are   susceptible   to   varying   calculations,   these   non ‐ GAAP   financial   measures,   as   presented,   may   not   be   comparable   to   other   similarly   titled   measures   presented   by   other   companies.Pinnacle Financial   believes   that   these   non ‐ GAAP   financial   measures   facilitate   making   period ‐ to ‐ period   comparisons   and   are   meaningful   indications   of   its   operating   performance.   In   addition,   because   intangible   assets   such   as   goodwill   and   the   core   deposit   intangible,   and   the   other   items   excluded   each   vary   extensively   from   company   to   company,   Pinnacle   Financial   believes   that   the   presentation   of   this   information   allows   investors   to   more   easily   compare   Pinnacle   Financial's results   to   the   results   of   other   companies.   Pinnacle   Financial's management   utilizes   this   non ‐ GAAP   financial   information   to   compare   Pinnacle   Financial's operating   performance   for   2018   versus   certain   periods   in   2017   and   to   internally   prepared   projections. Safe   Harbor   Statements $4,501   $4,789   $7,080   $9,281   $16,503   Total   Deposits (millions) $0.47   $0.62   $0.68   $0.82   $1.08   FD   EPS 0.09% 0.12% 0.42% 0.20% 0.10% NCOs 21.2% 20.3% 24.2% 12.9% 12.6% Classified   Asset   Ratio 0.73% 0.58% 0.70% 0.36% 0.58% NPA/   Loans   &   OREO $4,182   $4,645   $6,828   $8,642   $16,326   Total   Loans (millions) $58,640   $69,755   $99,758   $119,148   $218,654   Total   Revenues 1Q18   Summary   Results   – GAAP   Measures Balance Sheet Growth Earnings Growth Asset Quality $20.88   $22.98   $29.26   $34.61   $48.16   Book   Value   per   Share 13.47% 15.56% 15.04% 14.74% 18.12% ROTCE 4 0.73% 0.58% 0.70% 0.36% 0.58% NPA/   Loans   &   OREO ‐‐‐ :   Reflects   historical   operating   ranges   for   NPA/   Loans   &   OREO   and   Classified   Asset   Ratio.   Reflects   target   ranges   resulting   from   the   annual   corporate   strategic   planning   process   for   NCOs. *:   excluding   merger ‐ related   charges,   gains   and   losses   on   sales   of   investment   securities   and   revaluation   of   deferred   tax   assets   Note:   For   a   reconciliation   of   these   Non ‐ GAAP   financial   measures   to   the   comparable   GAAP   measures,   see   slides   32 ‐ 36. 0.09% 0.12% 0.42% 0.20% 0.10% NCOs 21.2% 20.3% 24.2% 12.9% 12.6% Classified   Asset   Ratio $4,182   $4,645   $6,828   $8,642   $16,326   Total   Loans (millions) $4,087   $4,413   $6,432   $8,288   $14,224   Total    Core   Deposits (millions) $13.93   $16.12   $18.75   $23.25   $24.24   Tangible   Book   Value   per   Share 13.45% 15.56% 15.64% 14.89% 18.98% ROTCE* $0.47   $0.62   $0.71   $0.83   $1.13   FD   EPS* $58,640   $69,755   $99,758   $119,148   $218,624   Total   Revenues 1Q18   Summary   Results   –Non ‐ GAAP   Measures Balance Sheet Growth Earnings Growth Asset Quality 5 6 Pinnacle   sets   and   delivers   against   lofty   strategic   targets 1Q18   Summary   Results (1)   Non ‐ GAAP   amounts   exclude   net   gains   and   losses   on   the   sale   of   investment   securities,   ORE   expense   and   income,   merger ‐ related   charges   and   the   impact   of   revaluation   of   deferred   tax   assets.    Non ‐ GAAP   net   interest   margin   excludes   the   accretion   from   the   application   of   fair   value   accounting   for   acquired   loans   and   deposits.   For   a   reconciliation   of   these   Non ‐ GAAP   financial   measures   to   the   comparable   GAAP   measures,   see   slides   32 ‐ 36. • Core   systems   conversions   are   complete • Cost   synergies   have   been   harvested • Associate   engagement   is   high • Year ‐ over ‐ year   increase   based   on   Great   Place   to   Work   survey • Hiring   success   is   ahead   of   schedule • Balance   sheet   growth   is   strong BNC   Integration   Has   Been   Highly   Successful 7 “BNC   has   a   high ‐ growth   CRE   lending   practice   that   we   expect   to   continue   at   its   previous   pace.   However,   the   key   to   realizing   our   potential   in   the   Carolinas   and   Virginia   is   to   build   out   a   large   C&I   platform   –the   thing   we   do   best.”   PNFP   2017   Annual   Report BNC   Integration   Has   Been   Highly   Successful 8 BNC   Integration ‐ Key Measures   of   Success 1Q18 1. Continued high ‐ growth   CRE   and   construction   lending   practice   15.7%* 2. Build out   a   large   C&I   platform • Hired   11   revenue   producers • C&I FAs 5 • Private   Banking   FAs 2 • Brokers 2 • Mortgage   Originators 2 • Accelerated   C&I   and   owner ‐ occupied   CRE   loan   growth 26.6%* *   1Q18   annualized   growth   rate 9 BNC   Integration   Has   Been   Highly   Successful 2017 2018 – 1Q No.   34   – 100   Best   Companies   to   Work   For, FORTUNE No.   22   – 100   Best   Companies   to   Work   For, FORTUNE No.   7   –Best   Workplaces   in   Financial   Services and   Insurance,   FORTUNE No.   3   – Best Workplaces   in   Financial   Services   and   Insurance, FORTUNE No.   6   –Best   Workplaces   for   Women,   FORTUNE No.   6   –Best   Banks   to   Work   For,   American   Banker No.   20   –50   Companies   that   Care,   People magazine Source: Great Place to Work, The Business C ase for a High-Trust Culture, Jessica Rohman Each   year,   FTSE   Russell   conducts   independent   research   that   analyzes   the   cumulative   stock   market   returns   of   publically ‐ traded   Fortune   100   Best   Companies   to   Work   For.   If   you   invested   in   these   companies   (divesting   stock   in   the   companies   that   were   no   longer   on   the   list   and   investing   in   companies   added   to   the   list)   your   returns   would   be   nearly   three   times   that   of   the   general   market. BNC   Integration   Has   Been   Highly   Successful 11 BNC   Integration   Has   Been   Highly   Successful High   trust   environments   elevate   productivity,   profitability   and   job   applicants A   2013   study   led   by   Luigi   Guiso,   of   the   Einaudi Institute   for   Economics   and   Finance   &   CEPR,   found   that   in   companies   where   employees   reported   that   their   leaders   act   with   integrity   (an   essential   component   of   high ‐ trust   culture),   a   number   of   competitive   advantages   emerged,   including: • Higher   productivity • Increased   profitability • Better   industrial   relations • Greater   attraction   of   top   job   applicants Source: Great Place to Work, The Business C ase for a High-Trust Culture, Jessica Rohman BNC   Integration   Has   Been   Highly   Successful 12 Our   C&I   and   Private   Banking   hiring   is   actually   ahead   of   plan C&I   and   Private   Banking   actual   hires   since   7/1/17 Projected   Timeline   C&I,   Private   Banking   FAs 13 Loan   and   Deposit   Growth   are   Keys   to   Earnings   Growth Strong   performance   continues   in   both   total   revenues   and   revenues   per   share* $1.31   $2.83     $1.00   $1.20   $1.40   $1.60   $1.80   $2.00   $2.20   $2.40   $2.60   $2.80   $3.00   $ ‐   $50   $100   $150   $200   $250 Revenues per diluted share* Total Revenues* (000's) Fee   income NII Total   revenue   per   share * : Excluding   gains   and   losses   on   sales   of   investment   securities **:   Decline   in   revenue   per   share   a   result   of   equity   issuance   during   the   first   quarter   of   2017 14 Linked ‐ quarter   loan   growth   remains   strong   as   yields   increase $3,191 $3,212 $3,207 $3,262 $3,280 $3,403 $3,489 $3,580 $3,682 $3,845 $3,932 $3,981 $4,130 $4,251 $4,358 $4,436 $4,625 $4,737 $5,690 $6,458 $6,742 $6,998 $8,233 $8,357 $8,558 $9,817 $15,017 $15,520 $15,957 4.88% 4.91% 4.50% 2.50%3.00%3.50%4.00%4.50%5.00%   $ ‐   $4,000   $8,000   $12,000   $16,000   $20,000 Loan Yields Average Loans  (millions) Avg.   Loans Loan   Yields Loan   Yields   without   PAA Loan   and   Deposit   Growth   are   Keys   to   Earnings   Growth   AVNU BNCN CPMK / Magna 15 Portfolio   transitions   to   more   variable   rate Loan   and   Deposit   Growth   are   Keys   to   Earnings   Growth   March   31,   2018 LIBORPrimeTreasury   bill Fixed   <   1   yr Fixed   >   1   yr Loan Pricing Allocation• Floating rate loans have expanded 2% since merger date • $525 mm Fixed to Floating 3-m onth LIBOR Forward Swap • Executed post quarter-end • Moves additional 3% of loans from fixed to floating • Three forward starting tranches – Oct’18, Jan’19, Apr’19 • Effective through June 2021 • If effective today, would resu lt in 47 basis point spread between current pay fixed rate and 3-month LIBOR • Objective by mid-2019 – Fixed rate loans > 1 yr @ ~ 35% WAC(*) Sept.   30,   2017 Mar. 31,   2018 Net   change LIBOR 3.70% 4.15% 0.45% Prime 4.52% 5.01% 0.49% Fixed rate 4.43% 4.43% ‐ Fed   funds 1.25% 1.75% 0.50% Weighted Average EOP Coupon Trends• Excludes impact of PA A and impact from early payoff’s which result in immediate recognition of deferred fees and prepayment penalties and increase actual yields • Avg. contractual life of fixed rate loans approx. 48 months. 16 Average   deposit   balances   continued   to   grow $3,772  $3,723  $3,700  $3,642  $3,597  $3,636  $3,706  $3,883  $3,950  $3,963  $4,199  $4,408  $4,510  $4,519  $4,655  $4,758  $4,792  $4,885  $5,898  $6,787  $7,037  $7,093  $8,454  $8,791  $9,099  $10,394  $15,828  $16,092  $16,281  1.75% 1.01% 0.60% 0.00%0.20%0.40%0.60%0.80%1.00%1.20%1.40%1.60%1.80%   $ ‐   $2,000   $4,000   $6,000   $8,000   $10,000   $12,000   $14,000   $16,000   $18,000 Cost of Deposits Avg. Deposits (millions) Avg.   Deposits EOP   FFS   Target Cost   of   Deposits Loan   and   Deposit   Growth   are   Keys   to   Earnings   Growth Deposit   Rate   Tranches Mar. 31,   2018   %   of   Totals Noninterest bearing 25.9% Rate   sheet 23.0% Negotiated with   client 28.7% Indexed 6.8% CDs 15.6% 17 Fee   businesses   produce   another   strong   quarter 1Q18 4Q17 3Q17 2Q17 1Q17 Service   charges $5,820 $6,078 $5,921 $4,179 $3,856 Investment   services 5,107 4,723 3,660 3,110 2,822 Insurance   commissions 3,119 1,961 2,124 1,461 1,859 Gain   on   mortgage   loans   sold,   net 3,744 3,839 5,963 4,668 4,155 Trust   fees 3,117 2,645 2,636 1,677 1,705 Income   from   equity   method   investment 9,360 12,444 8,937 8,755 7,823 Other: Securities   gains   (losses)   30 (8,264) ‐‐‐ Interchange   and   other   consumer   fees 8,556 8,499 7,393 7,558 6,151 Bank ‐ owned   life   insurance 2,752 2,829 2,623 1,395 1,099 Loan   swap   fees 504 188 1,011 336 261 Other 2,074 1,546 2,709 1,918 651 Total   noninterest   income $44,183 $36,488 $42,977 $35,057 $30,382 Noninterest   income/Average   Assets 0.81% 0.66% 0.80% 1.05% 1.08% Core   noninterest   income** $44,153 $44,753 $42,977 $35,057 $30,382 Core   Noninterest   Income ** /Total   Average   Assets 0.81% 0.81% 0.80% 1.05% 2.17% Fee   Businesses   also   Contribute   to   Earnings   Growth **   :   Excludes   the   impact   of   gains   and   losses   on   sales   of   investment   securities 18 1Q18   core   expense   results   reflect   enviable   operating   leverage 1Q18 4Q17 3Q17 2Q17 1Q17 Salaries   and   benefits $63,719 $   63,347 $64,288 $43,676 $38,352 Equipment   and   occupancy 17,743 17,114 16,590 10,713 9,675 Other   real   estate   owned (794) 252 512 63 252 Marketing   and   business   development 2,247 2,093 2,222 2,127 1,879 Postage   and   supplies 2,039 1,662 1,755 1,122 1,196 Intangible   amortization 2,698 3,071 3,077 1,472 1,196 Merger ‐ related   charges 5,353 19,103 8,847 3,221 672 Other   expenses 15,575 16,332 12,444 9,404 8,831 Total   noninterest   expense $108,580 $122,973 $109,735 $71,798 $62,053 Efficiency   ratio 49.7% 58.2% 50.8% 50.7% 52.1% Expense/Total   Average   Assets 1.98% 2.22% 2.05% 2.16% 2.20% Core   noninterest   expense   ** $104,021 $103,618 $100,376 $68,514 $61,130 Core   efficiency   ratio   ** 47.6% 47.2% 46.4% 48.4% 51.3% Core   Noninterest   Expense ** /Total   Average   Assets 1.90% 1.87% 1.88% 2.06% 2.17% **   :   Excludes   the   impact   of   OREO   expense   and   income   and   merger ‐ related   charges PNFP   Focuses   on   Strategic   Expense   Management 19 PNFP   is   focused   on   rapid   growth   across   the   Southeast 1. Continuation   of   current   high   growth,   high   profit   plan 2. Explore   expansion   to   other   high   growth   southeastern   markets Long ‐ Term   Shareholder   Value 20 • Year   over   year   quarterly   FDEPS,   excluding   merger ‐ related   charges   and   investment   gains   and   losses   on   sales   of   securities,   growth   rate   is   ahead   of   the   consensus   year   over   year   quarterly   growth   rate   (36%   vs.   32%). • Hiring   of   revenue   producers   is   ahead   of   schedule   and   has   accelerated   over   prior   periods. • Quarterly   earning   asset   growth   is   at   its   highest   level   ever. • The   core   margin   expanded   0.09%   during   1Q18. • 1Q18   asset   growth   and   expanded   margin   suggest   continued   net   interest   income   growth   for   the   remainder   of   2018. • ROAA,   excluding   merger ‐ related   charges   and   investment   gains   and   losses   on   sales   of   securities,   of   1.60%   is   squarely   in   the   middle   of   our   new   targeted   range   of   1.50%   to   1.70%. • ROTCE,   excluding   merger ‐ related   charges   and   investment   gains   and   losses   on   sales   of   securities,   of   18.98%   compares   favorably   to   peers. 1Q18   Summary Q&A   – First Quarter 2018 Investor Call Supplemental   Information 22 Chart • Balance   Sheet 23 • Asset   Quality 29 • Income   Statement 30      Loan   portfolio   is   well   diversified 23 Amts. 1Q18 %’s(*) 1Q18 Amts. 4Q17 %’s(*) 4Q17 Amts. 1Q17 %’s(*) 1Q17 Amts. 1Q16 %’s(*) 1Q16 C&I $4,490.9 27.5% $4,141.3 26.5% $2,980.8 34.5% $2,434.6 35.6% CRE – Owner Occ. 2,427.9 14.9% 2,460.0 15.7% 1,399.5 16.2% 1,099.7 16.1% CRE – Investment 3,714.9 22.8% 3,564.0 22.8% 1,386.4 16.0% 995.8 14.6% CRE – Multifamily and other 651.4 4.0% 645.6 4.1% 395.7 4.6% 245.3 3.6% Consumer RE 2,580.8 15.8% 2,561.2 16.4% 1,196.4 13.8% 1,042.3 15.3% C&D and Land 2,095.9 12.8% 1,908.3 12.2% 1,015.1 11.8% 764.1 11.2% Consumer and other 364.2 2.2% 352.7 2.3% 268.1 3.1% 246.1 3.6% Total loans $16,326.0 100.0% $15,633.1 100.0% $8,642.0 100.0% $6,827.9 100.0% (*)   as   a   percentage   of   total   loans Balance   Sheet (*)   as   a   percentage   of   total   loans 24 Construction   portfolio   reflects   discipline Amts. 1Q18 %’s(*) 1Q18 Amts. 4Q17 %’s(*) 4Q17 Amts. 1Q17 %’s(*) 1Q17 Amts. 1Q16 %’s(*) 1Q16 Residential   –Spec $288.0 1.8% $278.7 1.8% $200.7 2.3% $120.9 1.9% Residential    –Custom 123.0 0.7% 95.9 0.6% 96.9 1.1% 97.1 1.4% Residential    – Condo 0.6 0.0% 0.6 0.0% 5.6 0.1% 15.3 0.2% Commercial   Construct. 1,207.2 7.4% 1,057.3 6.8% 429.8 5.0% 280.7 4.1% Land   Dev– Residential 161.2 1.0% 157.5 1.0% 111.2 1.3% 88.3 1.3% Land   Dev   – Commercial 200.8 1.2% 208.9 1.3% 167.4 2.0% 160.0 2.3% Land   Dev   –Mixed   Use 25.1 0.1% 25.7 0.2% - - - ‐ Land   –Unimproved 90.0 0.6% 83.7 0.5% 3.5 0.0% 1.8 0.0% Total   C&D $2,095.9 12.8% 1,908.3 12.2% $1,015.1 11.8% $764.1 11.2% Balance   Sheet Balance   Sheet As   projected,   total   CRE   loan   portfolio   exceeds   300   guidelines 25 Description 3/31/2018 12/31/2017 9/30/2017 6/30/2017 3/31/2017 Loans   secured   by   real   estate:   Construction,   land   development,   and   other   loans: 1 ‐ 4   family   residential construction   loans $475,979 $445,077 $423,988 $408,035 $303,219 Other   construction loans   and   all   land   development   and   other   land   loans 1,619,895 1,463,211 1,515,821 1,363,014 711,909 Loans   included   in   the   100%   test $2,095,874 $1,908,288 $1,939,809 $1,771,049 $1,015,128 Secured by   multifamily   (5   or   more)   residential   properties $668,904 $669,054 $638,285 $672,979 $411,028 Loans   secured by   other   nonfarm   nonresidential   properties 3,714,854 3,564, 048 3,398,381 3,357,120 1,386,398 Financed   real estate   not   secured   by   real   estate   196,807 198,769 198,769 186,505 169,889 Loans included   in   the   300%   test $6,676,439 $6,340,159 $6,175,244 $5,987,653 $2,982,443 Total   Risk   Based   Capital $2,180,680 $2,134,344 $2,129,643 $2,081,349 $1,349,947 %ofRisk   Based   Capital 100%   Test  ‐ NOOCRE   +   Secured   by   multi ‐ family   96% 89% 91% 85% 75% 300%   Test  ‐ NOOCRE   +   Multifamily   +   Construction 306% 297% 290% 288% 221% Balance   Sheet 26 PNFP   remains   focused   on   relationship   funding 3/31/2018 Percent 12/31/2017 Percent 3/31/2017 Percent Core Funding: Non ‐ interest   bearing   deposits $4,274,213 22.40% $4,381,386 23.85% $2,508,680 25.25% Interest ‐ bearing   deposits 2,803,718 14.70% 2,756,506 15.00% 1,869,570 18.82% Money   Market   accounts 5,852,950 30.68% 5,847,650 31.83% 3,345,727 33.68% Time   deposits   less   than   $250,000 1,292,785 6.78% 1,260,162 6.86% 564,270 5.68% Total   Core   Funding $14,223,665 74.55% 14,245,704 77.54% 8,288,247 83.43% Relationship   based   non ‐ core   funding: Reciprocal   NOW   deposits 64,074 0.34% 77,472 0.42% 30,725 0.31% Reciprocal   MMDA   deposits 365,292 1.91% 408,806 2.23% 537,624 5.41% Time   deposits Reciprocal   time   deposits 98,185 0.51% 106,227 0.58% 49,331 0.50% Other   time   deposits 472,353 2.48% 444,951 2.42% 208,060 2.09% Securities   sold   under   agreements   to   repurchase 131,863 0.69% 135,262 0.74% 71,157 0.72% Total   relationship   based   non ‐ core   funding 1,131,768 5.93% 1,172,718 6.39% 896,897 9.03% Wholesale   funding: Brokered   deposits 570,688 2.99% 445,822 2.43% 166,610 1.68% Brokered   time   deposits 709,658 3.72% 722,721 3.93% ‐‐ FHLB   advances 1,976,881 10.36% 1,319,909 7.18% 406,304 4.23% Federal   funds purchased ‐ 0.00% ‐‐ 50,000 0.50% Sub   Debt   and   other   funding 465,549 2.44% 465,505 2.53% 350,849 3.53% Total   wholesale   funding 3,722,776 19.51% 2,953,956 16.07% 748,723 7.54% Total   non ‐ core   funding 4,854,544 25.45% 4,126,674 22.46% 1,645,620 16.57% Totals $19,078,209 100.00% $18,372,378 100.00% $9,933,867 100.00% 27 Balance   Sheet Securities   book   yields   increase   with   more   variable   rate   bonds 3.58% 2.87% 20.75% 13.0% 0.00%5.00%10.00%15.00%20.00%25.00%30.00%35.00%40.00% 0.00%0.50%1.00%1.50%2.00%2.50%3.00%3.50%4.00% Bond   Yields %   of   Total   Assets 78% 71% 22% 29% Sept.   2017 Mar.   2018 Bond   Portfolio   Pricing Fixed   Rate Variable   Rate Conservative   bond   portfolio Balance   Sheet 28 1.0% 2.3% 34.9% 7.1% 13.8% 40.8% Agency Corporates MBS Asset   Backed CMOs Municipals ● Duration   steady   in   mid   3%   range ● Investments to   Total   Assets   of   13.0% Portfolio:    March   31,   2018 Total   Investments   $2.981   billion Unrealized   Gain   (Loss) $(44.0)   million Quarter Duration Avg.   Yield ‐ TE 1Q18 3.5% 2.9% 4Q17 3.5% 2.7% 3Q17 3.5% 2.6% 2Q17 3.3% 2.5% 1Q17 3.4% 2.4% 4Q16 3.2% 2.3% 3Q16 2.8% 2.3% 2Q16 2.4% 2.5% 1Q16 2.7% 2.6% 29 Asset   quality   remains   very   sound (*)   >30   days   past   due (000’s) Mar.   31,   2018 As   a   %   of   total loans   Dec.   31,   2017 As   a   %   of   total loans   Mar.   31,   2017 As   a   %   of   total loans   Past Due   Loans   (*) Nonaccrual loans $13,875 0.08% $11,691 0.07% $10,011 0.12% Accruing   loans $39,666 0.24% 60,159 0.38% 14,684 0.17% Total   past due $53,541 0.32% $71,850 0.46% $24,695 0.29% NPLs   and   >   90   days   Const.   and   land   development $3,621 0.02% $6,114 0.04% $4,112 0.05% Consumer   RE 18,549 0.11% 19,381 0.12% 8,857 0.10% CRE   –Owner   Occupied 21,112 0.13% 12,605 0.08% 3,401 0.04% CRE   – Investment 918 0.01% 302 0.00% 649 0.01% Total   real   estate 47,407 0.29% 41,664 0.27% 17,019 0.20% C&I 22,761 0.14% 18,657 0.12% 7,258 0.08% Other 1,165 0.01% 1,273 0.01% 1,884 0.02% Total   loans $71,333 0.44% $61,594 0.39% $26,161 0.30% Classified   loans   and   ORE Substandard   commercial   loans $216,046 1.32% $   211,308 1.35% $138,720 1.62% Doubtful   commercial   loans ‐ 0.00% (9) 0.00% 1 0.00% Other   impaired   loans 16,409 0.10% 15,329 0.10% 11,262 0.13% 90   days   past   due   and   accruing   (*) 1,131 0.01% 4,139 0.03% 1,110 0.01% Other   real   estate 23,982 0.15% 27,831 0.18% 6,235 0.07% Other   repossessed   assets 551 0.00% 197 0.00% ‐ 0.00% Total $258,119 1.58% $   258,795   1.66% $157,328 1.83% Pinnacle   Bank   classified   asset   ratio 12.6% 12.9% 12.9% Asset   Quality 30 Core   net   interest   margin   growth   key   to   achieving   profitability   targets 3.72% 3.70% 3.60% 3.68% 3.87% 3.76% 3.77% 3.64% 3.46% 3.41% 3.44% 3.45% 3.33% 3.42% $0$50,000$100,000$150,000$200,000 0.00%1.00%2.00%3.00%4.00% Net Interest Margin Reported   NIM NIM   excl.   PAA   loan   mark Remaining   Loan   Mark Income   Statement Remaining Loan Mark Income   Statement Mortgage   volumes   decline   in   1Q18 31 0.00%1.00%2.00%3.00%4.00%5.00%6.00% 25,00075,000 125,000175,000225,000275,000325,000   Purchase   Money Refinance Gross   fees   as   a   %   of   loans   originated Income   Statement 32 1Q18 4Q1 3Q17 2Q17 1Q17 Net   interest   income $174,471 $174,731 $173,182 $106,627 $88,767 Total   noninterest   income 44,183 36,488 42,977 35,057 30,382 Total   revenues $218,654 $211,219 $216,159 $141,684 $119,149 Less:    Investment   (gains)   losses   on   sales   of   securities,   net (30) 8,265 ‐‐‐ Total   revenues,   excluding   investment   (gains)   losses   on   sales   of   securities,   net $218,624 $219,484 $216,159 $141,684 $119,149 Total   noninterest   expense $108,580 $122,973 $109,736 $71,798 $62,054 Less:   ORE   expenses   (income) (794) 252 512 63 252 Merger ‐ related   charges 5,353 19,103 8,847 3,221 672 Core   noninterest   expense,   excluding   the   impact   of   ORE   expense   (income)   and   merger ‐ related   charges $104,021 $103,618 $100,377 $68,514 $61,130 Adjusted   pre ‐ tax   pre ‐ provision   income $114,603 $115,866 $115,782 $73,170 $58,019 Efficiency   ratio 49.7% 58.2% 50.8% 50.7% 52.1% Adjustment   due   to   securities   gains   and   losses,   ORE   expense   (income)   and   merger ‐ related   charges   2.1% (11.0%) (4.4%) (2.3%) (0.8%) Core   Efficiency   ratio 47.6% 47.2% 46.4% 48.4% 51.3% Noninterest   income/   Average   assets 0.81% 0.66% 0.80% 1.05% 1.08% Adjustment   due   to   investment   (gains)   losses   on   sales   of   securities,   net ‐ 0.15% ‐‐‐ Noninterest   income,   excluding   the   impact   of   net   gains   on   sale   of   investment   securities/ Average   Assets 0.81% 0.81% 0.80% 1.05% 1.08% Noninterest   expense/   Average   assets 1.98% 2.22% 2.05% 2.16% 2.20% Adjustment   due   to   ORE   expense   (income)   and   merger ‐ related   charges (0.08%) (0.35%) (0.17%) (0.10%) (0.03%) Core   noninterest   expense,   excluding   ORE   expense   (income)   and   merger ‐ related   charges/   Average   Assets 1.90% 1.87% 1.88% 2.06% 2.17% Reconciliation   of   Non ‐ GAAP   measures Income   Statement 33 1Q18 4Q17 3Q17 2Q17 1Q17 Net   income $83,510 $26,798 $64,442 $43,086 $39,653 Merger ‐ related   charges 5,353 19,103 8,847 3,221 672 Investment   (gains)   losses   on   sales   of   securities (30) 8,265 ‐‐‐ Tax   effect   on   merger ‐ related   charges   and   investment   (gains)   losses   on   sales   of   securities (1,391) (10,736) (3,471) (1,264) (264) Revaluation   of   deferred   tax   assets ‐ 31,486 ‐‐‐ Net   income   excluding   merger ‐ related   charges,   investment   (gains)   losses   on   sales   of   securities   and   revaluation   of   deferred   tax   assets $87,442 $74,916 $69,818 $45,043 $40,061 Basic   earnings   per   share   $1.08 $0.35 $0.84 $0.81 $0.83 Adjustment   to   basic   earnings   per   share   due   to   merger ‐ related   charges,   investment   (gains)   losses   on   sales   of   securities   and   revaluation   of   deferred   tax   assets 0.05 0.63 0.07 0.04 0.01 Basic   earnings   per   share   excluding   merger ‐ related   charges,   investment   (gains)   losses   on   sales   of   securities   and   revaluation   of   deferred   tax   assets $1.13 $0.98 $0.91 $0.85 $0.84 Diluted   earnings   per   share $1.08 $0.35 $0.83 $0.80 $0.82 Adjustment   to   diluted   earnings   per   share   due   to   merger ‐ related   charges,   investment   (gains)   losses   on   sales   of   securities   and   revaluation   of   deferred   tax   assets 0.05 0.62 0.07 0.04 0.01 Diluted   earnings   per   share   excluding   merger ‐ related   charges,   investment   (gains)   losses   on   sales   of   securities   and   revaluation   of   deferred   tax   assets $1.13 $0.97 $0.90 $0.84 $0.83 Book   value   per   share $48.16 $47.70 $47.31 $46.56 $34.61 Adjustment   due   to   goodwill,   core   deposit   and   other   intangible   assets (23.92) (23.99) (23.99) (23.98) (11.36) Tangible   book   value   per   share $24.24 $23.71 $23.32 $22.58 $23.25 Reconciliation   of   Non ‐ GAAP   measures Income   Statement 34 Reconciliation   of   Non ‐ GAAP   measures 1Q18 4Q17 3Q17 2Q17 1Q17 Net   income $83,510 $26,798 $64,442 $43,086 $39,653 Merger ‐ related   charges 5,353 19,103 8,847 3,221 672 Investment   (gains)   losses   on   sales   of   securities (30) 8,265 ‐‐‐ Tax   effect   on   merger ‐ related   charges   and   investment   (gains)   losses   on   sales   of   securities (1,391) (10,736) (3,471) (1,264) (264) Revaluation   of   deferred   tax   assets ‐ 31,486 ‐‐‐ Net   income   excluding   merger ‐ related   charges,   investment   (gains)   losses   on   sales   of   securities   and   revaluation   of   deferred   tax   assets $87,442 $74,916 $69,818 $45,043 $40,061 Average   stockholders’   equity $3,732,633 $3,706,741 $3,655,029 $2,057,505 $1,657,072 Less:     Average   goodwill (1,808,055) (1,803,546) (1,800,761) (760,646) (551,548) Average   core   deposit   and   other   intangible   assets (55,681) (58,192) (59,521) (23,957) (14,674) Net   average   tangible   common   equity $1,868,897 $1,845,003 $1,794,747 $1,272,902 $1,090,850 Return   on   average   common   equity 9.07% 2.87% 6.99% 8.40% 9.70% Adjustment   due   to   goodwill,   core   deposit   and   other   intangible   assets 9.05% 2.89% 7.26% 5.18% 5.04% Return   on   average   tangible   common   equity 18.12% 5.76% 14.25% 13.58% 14.74% Adjustment   due   to   merger ‐ related   charges,   investment   (gains)   losses   on   sales   of   securities   and   revaluation   of   deferred   tax   assets 0.86% 10.35% 1.18% 0.61% 0.15% Return   on   average   tangible   common   equity   (excluding merger ‐ related   charges,   investment   (gains)   losses   on   sales   of   securities   and   revaluation   of   deferred   tax   assets) 18.98% 16.11% 15.43% 14.19% 14.89% Total   average   assets $22,204,599 $21,933,500 $21,211,459 $13,335,359 $11,421,654 Income   Statement 35 Reconciliation   of   Non ‐ GAAP   measures 1Q18 4Q17 3Q17 2Q17 1Q17 Net   income $83,510 $26,798 $64,442 $43,086 $39,653 Merger ‐ related   charges 5,353 19,103 8,847 3,221 672 Investment   (gains)   losses   on   sales   of   securities (30) 8,265 ‐‐‐ Tax   effect   on   merger ‐ related   charges   and   investment   (gains)   losses   on   sales   of   securities (1,391) (10,736) (3,471) (1,264) (264) Revaluation   of   deferred   tax   assets ‐ 31,486 ‐‐‐ Net   income   excluding   merger ‐ related   charges,   investment   (gains)   losses   on   sales   of   securities   and   revaluation   of   deferred   tax   assets $87,442 $74,916 $69,818 $45,043 $40,061 Average   assets $22,204,599 $22,505,700 $21,211,459 $13,335,359 11,421,654 Less:     Average   goodwill (1,808,055) (1,808,002) (1,800,761) (760,646) (551,548) Average   core   deposit   and   other   intangible   assets (55,681) (56,710) (59,781) (23,957) (14,674) Net   average   tangible   assets $20,340,863 $20,340,988 $19,351,177 $12,550,756 10,855,432 Return   on   average   assets 1.53% 0.48% 1.21% 1.30% 1.41% Adjustment   due   to   merger ‐ related   charges,   gains   and   losses   on   sales   of   investment   securities   and   revaluation   of   deferred   tax   assets 0.07% 0.88% 0.10% 0.05% 0.01% Return   on   average   assets   (excluding   merger ‐ related   charges,   gains   and   losses   on   sales   of   investment   securities   and   revaluation   of   deferred   tax   assets) 1.60% 1.36% 1.31% 1.35% 1.42% Return   on   average   assets 1.53% 0.48% 1.21% 1.30% 1.41% Adjustment   due   to   goodwill,   core   deposit   and   other   intangible   assets 0.14% 0.05% 0.11% 0.08% 0.06% Return   on   average   tangible   assets 1.67% 0.53% 1.32% 1.38% 1.47% Adjustment   due   to   merger ‐ related   charges,   investment   (gains)   losses   on   sales   of   securities   and   revaluation   of   deferred   tax   assets 0.07% 0.95% 0.11% 0.06% 0.01% Return   on   average   tangible   assets   (excluding merger ‐ related   charges,   investment   (gains)   losses   on   sales   of   securities   and   revaluation   of   deferred   tax   assets) 1.74% 1.48% 1.43% 1.44% 1.48% Income   Statement 36 Reconciliation   of   Non ‐ GAAP   measures 1Q18 4Q17 3Q17 2Q17 1Q17 Net   interest   margin 3.77% 3.76% 3.87% 3.68% 3.60% Adjustment   due   to   accretion   from   fair   value   accounting 0.35% 0.43% 0.45% 0.23% 0.21% Core   net   interest   margin 3.42% 3.33% 3.42% 3.45% 3.39% Loan   yield   4.91% 4.87% 4.91% 4.54% 4.49% Adjustment   due   accretion   from   fair   value   accounting 0.41% 0.51% 0.55% 0.28% 0.23% Loan   yield   including   adjustment   due   to   accretion   from   fair   value   accounting   4.50% 4.36% 4.36% 4.26% 4.26% First   Quarter   2018 Investor   Call M.   Terry   Turner,   President   and   CEO Harold   R.   Carpenter,   EVP   and   CFO April   17,   2018

2 Introductions BHG History & Strategy Financials Bank Network Analytics-Driven Business Model Marketing Pinnacle & BHG Partnership Future Synergies & Opportunities AGENDA 3 BHG LEADERSHIP Al Crawford Chairman / CEO & Original Founder Al Crawford is a co-founder of BHG and currently serves as Chairman and Chief Executive Officer. He is responsible for overseeing all facets of the company and its operations. For 30 years, Al has expertly coordinated loan/lease sales and financing between community banks and companies. His unique passion and excitement for creating financial solutions shines at BHG. He has facilitated over $5 billion with financial institutions, including more than 1,000 banks nationwide. Al provides guidance and mentoring to his Leadership Team, who he meets with daily. These 13 direct reports are leading their respective teams, and running the day-to-day operations of the company alongside Al. Because of his hands-on, inclusive management style and thirst for knowledge, his presence in all locations and departments is evident. In 2012, Al, along with co-founders Bob and Eric Castro, was named an Ernst & Young Entrepreneur of the Year for Financial Services. And in 2009, he was one of an elite 10 selected from hundreds of the nation’s top CEOs to be a member of the Inc. magazine CEO Project. Al earned his bachelor’s degree from Gettysburg College. He has held licenses as both a commodities broker (Series 3) and a stockbroker (Series 7). Eric Castro Original Founder Eric Castro co-founded BHG with a deep passion for effective leadership and execution. A veteran of the U.S. Marine Corps, he quickly learned the importance of a strong leader to guide a motivated group toward significant accomplishments. Eric has leveraged his experience and his knowledge to do just that—guide the team at BHG to break barriers and reach new heights. Always intrigued by the idea that success is directly correlated to meaningful human interactions and trust, Eric is driven to help people realize their full potential, achieve their goals, and find success in and out of the boardroom. Having built and led exceptional teams within corporations, Eric thrives on mentoring young entrepreneurs and aspiring business leaders. His fierce belief in putting quality into every aspect of life has not only helped shape his perspective and his approach, but also has skyrocketed BHG into the industry leader that it is today. 4 Juan Carlos Ortigosa Chief Revenue Officer As the Chief Revenue Officer, Juan Carlos Ortigosa defines and maintains the revenue strategy, architects and integrates the revenue system, and designs and launches new revenue programs for BHG. Juan’s passion for excellence drives the company’s growth strategies — and is underscored by his commitment to creating a culture of accountability. Before assuming his current role, Juan served as Chief Credit Officer and Vice President of Risk Management at BHG. His contributions during this time include successfully revamping the company’s credit model and building the analytics department from the ground up. Prior to joining BHG, Juan was Assistant Vice President of Credit Analytics at BankAtlantic, where he developed predictive models to estimate delinquency and loan loss, and managed risk for a $5 billion portfolio. Juan earned his bachelor’s degree in finance and management from Florida Atlantic University. BHG LEADERSHIP Dan McSherry Chief Financial Officer As Chief Financial Officer at BHG, Dan McSherry leads BHG’s corporate finance and investor relations. He focuses on financial strategy, corporate investments, and driving company growth. Dan joined BHG in 2013 as Senior Vice President of Analytics, responsible for driving growth and profitability into the production channel through enhanced data analysis. He has also served in management roles for reporting and business intelligence. Prior to joining BHG, Dan spent four years as an Analyst at Lockheed Martin Corporation. He has also worked in the financial services industry, where he spent time with UBS Financial and Charles Schwab & Co. Dan’s well-rounded experience also spans sales forecasting, variance and trend analysis, program budgeting and risk management. Dan earned both his bachelor’s degree in Finance and Economics and his MBA from Syracuse University. 5 Edmund Durant Chief Accounting & Risk Officer As Chief Accounting & Risk Officer at BHG, Ed Durant oversees the company’s Accounting, Finance, and Credit Risk Management and Risk Modeling. He leads BHG’s accounting department and policies, and is focused on growing its internal risk division. An integral member of BHG since 2003, Ed has held positions in accounting, documentation, loan placements, credit underwriting, IT and most prior to his current position—Chief Financial Officer. He created the original credit matrix scoring system, the first aggregated loan amortization tracking system, and the margin calculation—a model to estimate lifetime net revenue on each individual loan transaction. Ed was named to Central New York’s 2018 40 Under 40 list, recognizing leadership in both the workplace and community. He also received an award from the Business Journal News Network recognizing private company CFOs. A contributor to his church and Pass ‘Da Rock, a Syracuse- based non-profit giving inner-city youth a safe place for sporting activities, Ed is passionate about charity. Ed graduated from Colgate University with a bachelor’s degree in economics. BHG LEADERSHIP Chris Panebianco Chief Marketing Officer As Chief Marketing Officer for BHG, Chris Panebiancohas strategically developed a full-service in-house ad agency originating more than 110,000 loan requests resulting in over $5 billion in funded transactions to healthcare and other licensed professionals across the United States. Prior to joining BHG in 2009, Chris worked at MindCometwith clients such as Disney, Florida Hospital, ADT, and Peachtree. He has also served as Director of Marketing for PMC Lending and Marketing Manager for RideNowPowersports Florida. Chris started his advertising career with Price McNabb, now Mower, in Charlotte, NC. Chris was named to Central New York's 40 Under 40 list, recognizing leadership in both the workplace and community. Additionally, he was selected to join Leadership Greater Syracuse and is a recipient of the CNY Sales and Marketing Excellence Award. With social responsibility top of mind, Chris has helped forge partnerships with nonprofit organizations to further BHG’s corporate mission of giving back. These organizations include Operation Smile, Upstate GolisanoChildren’s Hospital, In My Father’s Kitchen, American Cancer Society, David’s Refuge, and Vera House. Chris earned his bachelor’s degree from the University of North Carolina at Greensboro. 6 BHG LEADERSHIP Thomas Davis SVP of Placements Tom Davis is BHG’s Senior Vice President of Placements (2015-current). In this role, he has managed BHG’s global cost of funds and revenue derived from $4.5 billion in loan sales to a network of more than 1,000 banks. He also manages the institutional sales force, operations team and serves as PM for complex sales events. Prior to this position, Tom served as Lead Analyst for the Placements department, providing insight into loan sale methodology, cost, auction trends, bank industry trends and institutional marketing. Before joining BHG, Tom was a Senior Analyst at National Grid providing analysis and contract management for D-Line construction and service contracts under the PM&CC group. Prior to National Grid, Tom was Vice President of Sedgwick Capital Corporation, where he managed operations related to providing construction and receivables financing for the resort timeshare industry. At Sedgwick, he managed accounting, analysis, reporting and contract management for borrower and source bank financing. Tom is a veteran of the NY Air National Guard (2002-08) and received a Bachelor’s from Le Moyne College. Demonstrated ability to navigate a competitive and robust market while nurturing a growing and highly profitableplatform AnnualVolume (mm): $25 Al Crawford met brothers Boband Eric Castro at aconferenceand, three weeks later,started Bankers HealthcareGroup Al Crawford selectedas a member of theInc. magazineCEOProject BHG owners namedE&Y Entrepreneurof theYear forFinancialServices Opened NYC salesoffice Surpassed $200mmin annual loanfundings Moved into new Syracuse, NY, FinancialHeadquarters Surpassed$1bn cumulative loanfundings Received Inc. HirePower Award for job creation PartneredwithPinnacle BanktolaunchBHG PowerMastercard ® creditcard Surpassed $2bn in cumulative loanfundings Sold 30%ownership to PinnacleFinancial Partners(NASDAQ: PNFP) Named #17 Best MediumWorkplaces FortuneMagazine Pinnaclepurchased an additional 19%share, increasingstake to49% Ranked on Inc.5000 for the11 th time Surpassed $3bn in cumulative loanfundings Launched BHG PatientLending Launched BHG Pro product to other licensed professionals Ranked on Inc.5000 for the 12 th time Launched FundEx Solutions Group,1 of14 non-bank SBAlenders $124 $162 Expanded offerings tophysical therapists, physician assistants, andnursepractitioners (“OtherMedical”) $100mmcumulative loanfundings Ranked #5 overallon Inc.magazine’sfastest growing privatecompanies $216$301$610$873 $260$456$711 $1.35bn forecasted originations MILESTONES & HISTORY 200120102012201420162018 200520112013201520172019 Provide loans (primarily working capital) to highly-skilled professionals, with a concentration in healthcare, emphasizing fast, efficient, and responsive customer service •Marketing platform key to producing lead flow, based on analytics and data •Direct mail and multiple web-based advertising disciplines •Trade association involvement •25%–30% of originations are repeat borrowers (trailing 18 months) •Dynamic sales force and culture Underwrite loans pursuant to strict standards using automation to the fullest extent possible •Multiple credit models –annualized loss rate last 5 years approximates 2.42% •State-of-the-art loan origination platform •Risk-based pricing Sell loans to financial institutions seeking improved yields and commercial/consumer loan growth •Loans sold via auction platform and direct sales channels STRATEGY Over $5 billion in financial solutions provided since inception •~$2.58 billion outstanding loan portfolio as of 6/30/2019 •On pace to originate $1.35 billion in 2019 •Annualized default/charge off ratio of 2.42% of total portfolio (2014 –2018) •2018 default/charge off ratio of 2.10%, anticipate 2019 to be 1.98% to 2.57% Diverse financing network, having sold loans to over 1,000 U.S. banks •To date, in 2019, sold loans to 461 different banks •In 2018, sold loans to 460 different banks Over 500 employees in 3 major locations (Syracuse, Manhattan, Fort Lauderdale) •Experienced leadership team –average tenure of key leaders 10 years Key areas of growth for BHG •35+ analysts on staff with significant depth of experience amongst Fortune 500 companies implanting performance, production and data analytics •Continual expansion customer universe –non-medical, highly-skilled professionals •Diversification of funding channels •Less reliance on Gain-on-Sale (GOS) model going forward, creating less volatile revenue via interest income •Patient Lending BHG TODAY VOLUME BY YEAR ORIGINATIONS FICO BY YEAR ORIGINATIONS QUARTERLY ORIGINATION VOLUME NEW BUSINESS ORIGINATION GROWTH TRAILING 24 MONTHS New BHG origination record in 9 of last 10 months (new business only) MONTHLY –ROLLING 24 MONTHS BALANCE SHEET REPORT FISCAL YEAR (MILLIONS) 2014 –2019 RESULTS 2019YTD a/o 6/30/19 2014 –2019 YTD performance in $millions Assets Liabilities Equity Revenue Net Income REVENUES 6/30/19 (Millions) Loan Sales$152 Loan origination fees$42 Interest and dividend income$34 Other income$10 Total revenue$239 EXPENSES 6/30/19 (Millions) Salaries and employee benefits$51 Advertising expense$22 Amortization expense$3 Secured borrowing and portfolio expense$10 Provision for loan losses$4 Others$19 Total expenses$109 Total net income$130 JUNE 30, 2019 FISCAL YTD STATEMENT OF INCOME ASSETS 6/30/19 (Millions) Cash and cash equivalents$105 Interest receivables at fair value$5 Loans, net of allowance for losses$269 Loans held for sale$196 Premises and equipment$8 Accounts receivable$12 Other Assets$12 Total assets$607 LIABILITIES 6/30/19 (Millions) Recourse obligation$100 Borrower reimbursable fee$46 Secured borrowing$218 Notes payable$47 Accrued stockholders' distribution$5 Accrued compensation$12 Accrued expenses and other liabilities$23 Total liabilities$451 Total stockholders equity$155 JUNE 30, 2019 FISCAL YTD STATEMENT OF INCOME MARKET TREND VS PRIME & UST 5 & 7 BANK SALES •1,020+ customer banks as of August2019 •Banks from every year of BHG’s business (’01-’19) are buying from BHGtoday •Exceptional purchasedepth •Appetite for new product andconcepts •BHG is a consistent loan sourcewith average daily loan sales: 2016 |$2,500,000 2017| $2,900,000 2018 | $3,900,000 2019 | $5,900,000 Immediate BHG support team: Sales Representatives (8) Portfolio Managers & Associates (7) Placements (9) 1,020+ BANKS •Executed Master Agreement = Order •$5.9MM AVERAGE daily sales pace via auction & direct offers •Auction ‘win’provides SAME-DAY closing docs •DIRECT OFFER typically allows for 48-72 hour review •Purchase wires expected < 48 HOURS from signed closing •SECUREwebsites utilized for review and sale documentation oBHGBanks.com& DocuSign.com 201720182019 Number of banks in network8029051,026 Current year buyers367402461 Average buyer assets 1 (in millions) $1,085$1,095$983 Sale rate (bank yield) 2 5.045.165.37 BHG team (bank sales & ops) 192123 LOAN PURCHASING 1 FDIC financial data dated 3/31/19 2 Loans sold at a premium BHGBANKS.COM All loan sales conducted through online platform BHG NAMEDAILY AUCTIONMARKETPLACESILENT AUCTIONDIRECT PLACEMENTJOINT VENTURE (JV) SPECIAL PURPOSE VEHICLE (SPV) ConceptTypically 15–20 loans auctioned per day. Banks are given ~30 hours to review loans. Banks can bid as many times as needed. “Buy Now” option. SA’s often run weekly. Submit “best bid”concept with 3–4 days to review. Generally3 –5 loans that are~$300 –$800k in size. Sale reps call bank directly and offerterms. Option forbanks who are not successful on the auctionor to walk a bank through first purchase. Shared risk and shared yield structure that is negotiated. Volume delivery $5 –$25mm+. Bankruptcy-remote special purpose vehicle that is wholly owned (directly or indirectly) by BHG —allowing for Bank participation into a pool of loans Loan sold atPremiumPremiumPremiumPremiumPar 90 –95% Advance Rate Time Ends at 3:00pm EST Opens at 3:01pm EST Ends at 12:00pm EST48–72 hour review Flexible given loan pool size Flexible % of 2019 sales 33%19%5%32%11%TBD / in design CORPORATE BANK SALES At BHG’s option and upon appropriate notification and BHG Board approval –BHG may opt to (BHG’s decision, not bank’s) substitute a delinquent loan from purchasing bank after the loan reaches 90 days past due BHG COLLECTIONS •Extremely fast collections process •85% of kickbacks/missed payments collected in first 30 days •Initial collections performed by in-house team •1 st Day: Contact borrower •5 th Day: Certified mail demand letter sent to debtor •15 th Day: Fed-Ex lawsuit •60 th Day: Lawsuit is filed or file is transferred to a third-party collections company The key to keeping liquidity in the bank network SUBSTITUTIONS & COLLECTIONS DATA & ANALYTICS The Data & Analytics team supports the entire BHG funding platform from start to finish, and has been the recipient of repeated positive feedback from bank examiners / regulators who say BHG’s analytics are far superior to that of traditional lenders. PREDICTIVE ANALYTICS Marketing Acquisition Model Lead Distribution Model Credit Underwriting Model Margin Model PRODUCTION ANALYTICS Marketing Sales Closing Funding Collections Other products DATA MANAGEMENT External data (demographic, geographic, credit profile) Multiple data vendors Data warehouse DATA-DRIVEN DECISION-MAKING MITIGATE RISK MONTHLY PERFORMANCE REVIEW RISK-BASED PRICING STAY ON TOP OF TRENDS ADJUSTMENTS TO CREDIT MODEL PERFORMANCE TRACKING COACHING & DEVELOPMENT SCORECARD DEVELOPMENT PROCESS OVERRIDE LOANAMOUNT APR%MINIMUM PRICING RISKGRADES & MONITOR UNDERWRITING DECISIONS CMSistheinternalrisk scorethatbetterquantifiesrisk Underwritersgaina betterunderstanding ofcontributing factors andwhy Overlay with customer’s ability to pay (DTI) andLTI to differentiate theloan amount Represents an enhanced opportunityforupsellin thefuture Overrides CMS and otherfactors Assigntotheappropriate authoritylevel Risk-based minimum pricingisdriven byCMS CMS risk ranking based ontheportfolio limit, loss limit,and targetrate Ability to adjust creditpolicyin a timelymanner CMS is statistically sound, model-driven riskscore UNDERWRITING BHG CREDIT MATRIX SCORE (CMS) BY RISK GRADE Red cells indicate where annual loss targets were exceeded LOSS RATIOS RISK GRADE 201220132014201520162017201820192012 –2017 A B C D E F TOTAL Ratio of annualized charge off to annual loss target Above loss targetAt loss targetBelow loss target 14 MILLION MARKETABLE UNIVERSE ORIGINATION & HISTORICAL PERFORMANCE VENDOR REFRESHMARKETING ACQUISITION MODEL MAIL PLAN Credit profile info prescreen Address quality Customer info update MKT –POINT IN TIME LEAD FLOW JANUARY TO JULY By marketing method year over year Marketing Method2017201820192019 vs 2018 VAR% Mail 24,774 26,117 42,051 61% Digital Marketing 3,550 3,779 9,987 164% Others 2,468 3,186 3,953 24% Grand total 30,79233,082 55,991 69% Q1 2019 PERFORMANCE QUARTER OVER QUARTER LEAD FLOW HISTORY OF PARTNERSHIP JV program launch (50/50 loss share) 1% plus ½ of coupon Credit card JMA launched –standard card programs under CARD Act Consumer program launched (loans closed on Pinnacle paper and then redirected to the BHG Sales conduit) Patient Lending –early stage launched Patient lending version 2.0 launched JV –AF program launch –(same as JV but state specific) First loans purchased $5mm allocation 20122014 2018 2011201320172019 30% of BHG purchased –$75mm 2015 19% of BHG purchased –$114mm 2016 JOINT MARKETING CREDIT CARD Marketing / sales Collections Program management Third-party expenses Charge-offs Underwriting Customer service Compliance Funding (Pinnacle owned loans) SHARED RESPONSIBILITIES PROFITS 50/50 distributed quarterly JOINT MARKETING CREDIT CARD Actual Projected End of period balances (in millions) $0 $20 $40 $60 $80 $100 $120 $140 FUTURE SYNERGIES & OPPORTUNITIES LOAN PROGRAM EXPANSION •Patient lending opportunities with Pinnacle providing clearing services to participating banks (projected 2019) •Credit card program expanded to white label and clearing services to other banks (potentially 2020) •Agent bank programs white label with revenue shares (potentially 2020) FUTURE SYNERGIES & OPPORTUNITIES BHG BANKING Powered by Pinnacle Leverage loan relationships to provide full suite of banking products to healthcare professionals (under review 6 –12 month ramp up) •Funding account for new loans •Operating account bundled product •Personal account services •Money market and savings account •Health Savings Account FUTURE SYNERGIES & OPPORTUNITIES BHG BANKING v2 Offer a suite of wealth management product and services •Brokerage services •Insurance services •Practice valuation services •More complex retirement offerings •Trust services CLOSING REMARKS TERRY TURNER, President & CEO, PNFP

Investor Call FOURTH QUARTER 2020 M. TERRY TURNER, PRESIDENT AND CEO HAROLD R. CARPENTER, EVP AND CFO TIM HUESTIS, EVP AND CHIEF CREDIT OFFICER January 20, 2021 Time: 8:30 AM CST Webcast: www.pnfp.com(investor relations) Audio only: 877-602-7944 Safe Harbor Statements Forward Looking Statements All statements, other than statements of historical fact, included in this press presentation, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The words "expect," "anticipate," "intend," "may," "should," "plan," "believe," "seek," "estimate" and similar expressions are intended to identify such forward-looking statements, but other statements not based on historical information may also be considered forward-looking statements. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could cause the actual results to differ materially from thestatements, including, but not limited to:(i) further deterioration in the financial condition of borrowers of Pinnacle Bank and its subsidiaries or BHG resulting in significant increases in loan losses and provisions for those losses and, in the case of BHG, substitutions; (ii) the further effects of the emergence of widespread health emergencies or pandemics, including the magnitude and duration of the COVID-19 pandemic and its impact on general economic and financial market conditions and on Pinnacle Financial'sand its customers' business, results of operations, asset quality and financial condition; (iii) the speed with which the COVID-19 vaccines can be widely distributed, those vaccines efficacy against the virus and public acceptance of the vaccines; (iv) the ability to grow and retain low-cost core deposits and retain large, uninsured deposits, including during times when Pinnacle Bank is seeking to lower rates it pays on deposits; (v) the inability of Pinnacle Financial, or entities in which it has significant investments, like BHG, to maintainthe long-term historical growth rate of its, or such entities', loan portfolio; (vi) changes in loan underwriting, credit review or loss reserve policies associated with economic conditions, examination conclusions, or regulatorydevelopments; (vii) effectiveness of Pinnacle Financial'sasset management activities in improving, resolving or liquidating lower-quality assets; (viii) the impact of competition with other financial institutions,including pricing pressures and the resulting impact on Pinnacle Financial’sresults, including as a result of compression to net interest margin; (ix) adverse conditions in the national or local economies including in Pinnacle Financial'smarkets throughout Tennessee, North Carolina, South Carolina, Georgia and Virginia,particularly in commercial and residential real estate markets; (x) fluctuations or differences in interest rates on loans or deposits from those that Pinnacle Financial is modeling or anticipating, including as a result of Pinnacle Bank's inability to better match deposit rates with the changes in the short-term rate environment, or that affect the yield curve; (xi) the results of regulatory examinations; (xii) Pinnacle Financial'sability to identify potential candidates for, consummate, and achieve synergies from, potential future acquisitions; (xiii) difficulties and delays in integrating acquired businesses or fully realizing costs savings and other benefits from acquisitions; (xiv) BHG's ability to profitably grow its business and successfully executeon its business plans; (xv) risks of expansion into new geographic or product markets; (xvi) any matter that would cause Pinnacle Financial to conclude that there was impairment of any asset, including goodwill or other intangible assets; (xvii) the ineffectiveness of Pinnacle Bank's hedging strategies, or the unexpected counterparty failure or hedge failure of the underlying hedges; (xviii) reduced ability to attract additional financial advisors (or failure of such advisors to cause their clients to switch to Pinnacle Bank), to retain financial advisors (including as a result of the competitive environment for associates) or otherwise to attract customers from other financial institutions; (xix) deterioration in the valuation of other real estate owned and increased expenses associated therewith; (xx) inability to comply with regulatory capital requirements,including those resulting from changes to capital calculation methodologies, required capital maintenance levels or regulatory requests or directives, particularly if Pinnacle Bank's level of applicable commercial real estate loans were to exceed percentage levels of total capital in guidelines recommended by its regulators; (xxi) approval of the declaration of any dividend by Pinnacle Financial'sboard of directors; (xxii) the vulnerability of Pinnacle Bank's network and online banking portals, and the systems of parties with whom Pinnacle Bank contracts, to unauthorized access, computer viruses, phishing schemes, spam attacks, human error, natural disasters, power loss and other security breaches; (xxiii) the possibility of increased compliance and operational costs as a result of increased regulatory oversight (including by the Consumer Financial Protection Bureau), including oversight of companies in which Pinnacle Financial or Pinnacle Bank have significant investments, like BHG, and the development of additional banking products for Pinnacle Bank's corporate and consumer clients;(xxiv) the risks associated with Pinnacle Financial and Pinnacle Bank being a minority investor in BHG, including the risk that the owners of a majority of the equity interests in BHG decide to sell the company if not prohibited from doing so by Pinnacle Financial or Pinnacle Bank; (xxv) changes in state and federal legislation, regulations or policies applicable to banks and other financial service providers, like BHG, including regulatory or legislative developments; (xxvi) the availability of and access to capital; (xxvii) adverse results (including costs, fines, reputational harm, inability to obtain necessary approvals and/or other negative effects) from current or future litigation, regulatory examinations or other legal and/or regulatory actions, including as a result of Pinnacle Bank's participation in and execution of government programs related to the COVID-19 pandemic; and (xxviii) general competitive, economic, political and market conditions. Additional factors which could affect the forward lookingstatements can be found in Pinnacle Financial'sAnnual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K filed with the SEC and available on the SEC's website at http://www.sec.gov. Pinnacle Financial disclaims any obligation to update or revise any forward- looking statements contained in this press presentation, which speak only as of the date hereof, whether as a result of new information, future events or otherwise. 2 Safe Harbor Statements Non-GAAP Financial Matters This presentation contains certain non-GAAP financial measures, including, without limitation, earnings per diluted common share, efficiency ratio, adjusted PPNR and the ratio of noninterest expense to average assets, excluding in certain instances the impact of expenses related to other real estate owned, gains or losses on sale of investment securities, the charges associated with Pinnacle Financial's branch rationalization project, FHLB restructuring charges, hedge termination charges, the sale of the remaining portion of Pinnacle Bank's non-prime automobile portfolio and other matters for the accounting periods presented. This presentation also includes non-GAAP financial measures which exclude the impact of loans originated under the PPP. This presentation may also contain certain other non-GAAP capital ratios and performance measures that exclude the impact of goodwill and core deposit intangibles associated with Pinnacle Financial'sacquisitions of BNC, Avenue Bank, Magna Bank, CapitalMarkBank & Trust, Mid-America Bancshares, Inc., Cavalry Bancorp, Inc. and other acquisitions which collectively are less material to the non-GAAP measure as well as the impact of Pinnacle Financial'sSeries B Preferred Stock. The presentation of the non-GAAP financial information is not intended to be considered in isolation or as a substitute for any measure prepared in accordance with GAAP. Because non-GAAP financial measures presented in this presentation are not measurements determined in accordance with GAAP and are susceptible to varying calculations, these non-GAAP financial measures, as presented, may not be comparable to other similarly titled measures presented by other companies. Pinnacle Financial believes that these non-GAAP financial measures facilitate making period-to-period comparisons and are meaningful indications of its operating performance. In addition, because intangibleassets such as goodwill and the core deposit intangible, and the other items excluded each vary extensively from company to company, Pinnacle Financial believes that the presentation of this information allows investors to more easily compare Pinnacle Financial'sresults to the results of other companies. Pinnacle Financial'smanagement utilizes this non-GAAP financial information to compare Pinnacle Financial'soperating performance for 2020 versus certain periods in 2019 and to internally prepared projections. 3 4Q20 Financial Information Despite the difficult operating environment, the key success measures of asset quality, core deposit growth, fee income growth, pre-provision net revenue growth and tangible book value accretion remained very strong this quarter. 4Q20 Summary Results of Key GAAPMeasures 5 Total Revenues FD EPS Book Value per Common Share Net Income Available to Common Shareholders Total Deposits (millions) Total Loans (millions) NPA/ Loans & OREO Classified Asset Ratio NCOs $8,450 $15,633 $17,708 $19,788 $22,425 Total Loans (millions) $20.06 $23.71 $27.27 $32.45 $37.25 Tangible Book Value per Common Share** $60,743 $115,866 $131,002 $123,900 $157,561 Adjusted Pre-Tax Pre-Provision Net Income* (millions) $0.83 $0.97 $1.26 $1.27 $1.58 FD EPS* CAGR 13.7% $119,761 $219,484 $249,780 $253,566 $304,429 Total Revenues CAGR 20.5% NCOs Classified Asset Ratio NPA/ Loans & OREO $7,835 $14,838 $16,489 $17,617 $23,511 Total Core Deposits (millions) 4Q20 Summary Results of Key Non-GAAPMeasures 6 *: excluding merger-related charges, gains and losses on sales of investment securities, ORE expense (income), loss on sale of non-prime automobile portfolio, branch rationalization charges, FHLB restructuring charges, hedge termination charges and revaluation of deferred tax assets **: excluding goodwill, core deposit and other intangible assets Note: For a reconciliation of these Non-GAAP financial measures to the comparable GAAP measures, see slides 58-59. CAGR 21.6% CAGR 24.6% CAGR 13.2% CAGR 21.0% PNFP Had AnnualizedLoan Growth of 8% in 4Q20 Loan growth was up in 4Q20 and we remain optimistic regarding future loan growth from recent hires $8,558 $9,817 $15,017 $15,520 $15,957 $16,730 $17,259 $17,630 $17,938 $18,611 $19,217 $19,600 $20,009 $22,257 $22,493 $22,525 4.49% 4.20% 3.20% 3.40% 3.60% 3.80% 4.00% 4.20% 4.40% 4.60% 4.80% 5.00% 5.20% 5.40% $2,000 $4,000 $6,000 $8,000 $10,000 $12,000 $14,000 $16,000 $18,000 $20,000 $22,000 $24,000 Loan Yields Average Loans (millions) 7 14.2% 14.6% 18.7% 13.3% 11.7% 4.2% 9.1% 0.0% 4.0% 8.0% 12.0% 16.0% 20.0% Annual Organic Loan Growth (excludes Day 1 merger impact) Impact of PPPOrganic Growth Average Loan Growth Rate IndexEnd-of-PeriodWeighted Average Coupon As a % of Total Portfolio New Loans Weighted Average Coupon for the Quarter At Dec. 31, 2019 At Sep. 30, 2020 At Dec. 31, 2020 YOY Change4Q193Q204Q20 Origination Mix 4Q20 LIBOR4.15%2.84%2.87%(1.28)%37.6%4.13%3.13%3.07%38.8% 1-MO LIBOR1.76%0.15%0.14%(1.62)%1.79%0.16%0.15% Prime4.99%3.82%3.77%(1.22)%15.6%4.97%3.96%3.89%17.5% FFS target1.75%0.25%0.25%(1.50)%1.83%0.25%0.25% Fixedrate4.51%4.31%4.23%(0.28)%42.3%4.28%4.08%3.84%40.2% 5-YR UST1.69%0.28%0.36%(1.33)%1.62%0.27%0.37% 4Q20 Loan Highlights •Year over year loan growth of 4.2% ex-PPP •4Q20 portfolio yield up 16bp to 4.20% •Portfolio yield ex-PPP -2bp to 4.16% •New LIBOR/Prime spreads stable; aided by loan floor emphasis •62.3% of loans with floating or variable rates carry a floor •Estimate high-single digit percentage loan growth in 2021, excluding impact of PPP paydowns or any new loans funded under new 2021 PPP program 8 PPP Program is a Differentiator for Pinnacle Pinnacle hopes to replicate its previous success on PPP PPP Trends $(000’s) Average Balances Aggregate Yield Interest Income Accretion Income Total Revenues 2Q20$ 1,689,0332.89%$ 4,673$ 7,449$ 12,122 3Q20$ 2,235,2772.77%$ 5,795$ 9,760$ 15,555 4Q20$ 2,111,2824.64%$5,223$ 19,421$ 24,644 •In support of our client base •Approximately 15,000 applications and $2.5B in funding from 2020 PPP program •Fees from PPP programs amortized over the life of the loan •Unamortized fees of $40.7 mm atDecember 31, 2020 to be recognized upon payoff or forgiveness of loan •As to the 2021 PPP round, we are prepared to meet the credit needs of our clients in support of these SBA programs. •Targeting specific clients for 2021 round of PPP and intend to be very active •Forgiveness activity is beginning to increase •As of year-end, just over 5,600 applications amounting to $953.8 mm of borrowers have initiated forgiveness process •As of Dec. 31, 2020, 3,000 applications amounting to $460.1 mm have been approved for forgiveness by the SBA •We’ve recognized almost 50% of our anticipated fee revenue from the first round of PPP, remaining fees will be recognized over next 18 months or so 9 16.3% 11.8% 16.9% 14.6% 7.1% 37.3% 0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 30.0% 35.0% 40.0% Annual Organic Deposit Growth (excludes Day 1 merger impact) Balance Sheet Growth was Driven by Outsized Deposit Inflows Deposit growth continues to outperform expectations $9,099 $10,394 $15,828 $16,092 $16,281 $16,949 $18,113 $18,368 $18,358 $18,865 $19,778 $20,079 $20,680 $24,807 $26,352 $27,193 0.25% 0.33% 0.00% 0.30% 0.60% 0.90% 1.20% 1.50% 1.80% 2.10% 2.40% 2.70% $- $2,000 $4,000 $6,000 $8,000 $10,000 $12,000 $14,000 $16,000 $18,000 $20,000 $22,000 $24,000 $26,000 $28,000 Average Deposits Average Deposit Growth Avg. DepositsEOP FFS TargetCost of Deposits Deposit Growth Rates Deposit RateTranches Jun. 30, 2019 EOP Rates Sep. 30, 2020 EOP Rates Dec. 31, 2020 EOP Rates Jun. 19 - Dec. 20 Changein EOP rates Deposit Beta (*) Dec. 31, 2020 % of Totals Noninterestbearing---------------26.7% Interest-bearing: Rate sheet 0.20%0.08%0.08%(0.12)%5.3%14.0% Negotiated 1.66%0.35%0.30%(1.36)%60.4%34.7% Indexed 2.43%0.29%0.28%(2.15)%95.6%11.9% CDs 2.32%1.34%1.10%(1.22)%54.2%12.7% TotalIBD 1.66%0.50%0.39%(1.27)%56.4%73.3% Total 1.28%0.37%0.29%(0.99)%44.1%100.0% 4Q20 Deposit Highlights •Annualized growth of 17.5% for total deposits •Annualized growth of 27.3% for core deposits •Annualized growth of 19.4% for NIB DDA •Reduced interest-bearing deposit costs 13bps from 3Q20 •Targeting a near-term total deposit rate of < 0.25% (*) Calculated based on Fed funds rate of 2.25% atJune 30, 2019 and 0% at Dec. 31, 2020 Our Liquidity Ramp has Impacted NIM Wholesale funding changesand rebound in loan demand should reduce elevated liquidity 4Q20 Liquidity Highlights •Strong deposit growth and PPP forgiveness/payoff activity kept liquidity levels high throughout 4Q20 •Average FFS & IB cash balances increased to 11.3% of earning assets from 2.4% in 4Q19 •Projected 2021 wholesale funding run-off should reduce liquidity levels ($2.2 billion, 0.68% avg. cost), offset by continued forgiveness/paydowns from PPP program •During 4Q20, redeemed $200.0 mm in FHLB borrowings at a 2.09% rate a prepayment penalty of $10.3 mm and eliminated a future starting cash flow hedge of $99mm at a loss of $4.7 mm •Deploying excess liquidity is key to closing gap between reported and adjusted NIM 3.35% 3.28% 2.87% 2.82% 2.97% 3.19% 3.22% 3.26% 2.70% 2.80% 2.90% 3.00% 3.10% 3.20% 3.30% 3.40% 4Q191Q202Q203Q204Q20 Reported NIM vs. Adjusted NIM NIM (GAAP)NIM (Adjusted)* *Adjusted NIM excludes the impact of liquidity build and the PPP lending programs as shown on slide 8. See slides 51-53 for a reconciliation of reported NIM to adjusted NIM. 0.00% 0.50% 1.00% 1.50% 2.00% 2.50% $0 $500 $1,000 $1,500 $2,000 $2,500 $3,000 $3,500 $4,000 3Q184Q181Q192Q193Q194Q191Q202Q203Q204Q20 Average Quarterly Yield Average Balances ($ in millions) Quarterly Avg. FFS and IB Cash Avg. FFS & IB CashYield 10 $500 $998 $1,047 $38 $150 2.07% 0.72% 0.54% 1.53% 1.14% 0.00% 0.25% 0.50% 0.75% 1.00% 1.25% 1.50% 1.75% 2.00% 2.25% $0 $200 $400 $600 $800 $1,000 $1,200 4Q201Q212Q213Q214Q21 Average Quarterly Yield Balances ($ in millions) Projected Wholesale Funding Changes Projected Funding RunoffWtd. Avg. Cost **:Excluding gains and losses on sales of investment securities. For a reconciliation of these Non-GAAP financial measures to the comparable GAAP measures, see slides 58-59. ^: Excluding the impact of PPP loans on average assets 11 PNFP Grew Fees at a Double-Digit Percentages Pace YOY Mortgage, BHG and other fee areas provided for substantial growth 4Q203Q204Q19 Year-over-Year Change Rate Service charges $8,486$9,854 $9,094 (6.7%) Investment services 7,5936,734 6,581 15.4% Insurance commissions 2,3002,284 2,017 14.0% Gain on mortgage loans sold, net 12,38719,453 6,044 104.9% Investment gains and losses, net-65168 NM Trust fees4,3823,9863,835 14.3% Income from equity method investment (BHG)24,29426,44512,312 97.3% Other: Interchange and other consumer fees11,73210,9329,959 17.8% Bank-owned life insurance4,8494,5574,508 7.6% Loan swap fees1,402365947 48.0% SBA loans sales 1,8281,4692,020 (9.5%) Gains on other equity investments1,064460591 80.0% Other3,1273,8751,486 110.4% Total noninterest income$83,444$91,065$59,462 40.3% Noninterest income/Average Assets0.96%1.07%0.85% 12.9% Noninterest income**$83,444$90,414$59,394 40.5% Noninterest Income**/Total Average Assets0.96%1.06%0.85% 12.9% Noninterest Income**/Total Average Assets^1.03%1.14%0.85% 21.2% 4Q20 vs. 4Q19 •Service charge income decreased in 4Q20 due to a decrease in NSF and increase in service charge refunds during the period •Wealth management fees are up nearly 15% attributable to additional revenue producers, market volatility and the attractive markets in which we operate •Mortgage originations are up almost 105% due to favorable interest rate environment, significant growth in revenue producers and strong housing in markets in which we operate •Income from BHG up nearly $12.0 million from increased business flows and balance sheet growth •Interchange and other consumer fees are up roughly 18% due to increased card utilization between the periods •Other noninterest income up due to increases in the cash surrender value and policy benefits from the firm’s bank- owned life insurance policies and loan syndication fees *:Excluding the impact of ORE expense and FHLB restructuring charges and hedge termination charges **: Excluding the impact of ORE expense, securities gains and losses, net, FHLB restructuring charges and hedge termination charges. For a reconciliation of these Non-GAAP financial measures to the comparable GAAP measures, see slide 58-59. 12 4Q203Q204Q19 Year-over-Year Growth % Salaries and employee benefits: Salaries$54,390$54,331$48,79511.5% Commissions4,1923,8923,79610.4% Cash and equity incentives 18,09619,67717,0696.0% Employee benefits and other13,33512,20311,78413.2% Total salaries and benefits$90,013$90,103$81,44410.5% Equipment and occupancy23,84921,62221,05913.2% Other real estate owned, net1,4571,79580481.2% Marketing and related expense2,9792,3214,298(30.7%) Postage and supplies1,9981,7612,407(17.0%) Amortization of intangibles2,3772,4172,896(17.9%) Other noninterest expense: Deposit related expense7,4436,0352,828163.2% Lending related expense10,7267,5146,80357.7% Wealth management expense48251342014.8% Other noninterest expense21,98110,1967,511192.7% Total$40,632$24,258$17,562131.4% Total noninterest expense$163,305$144,277$130,47025.2% Efficiency ratio53.6%48.5%51.4%4.3% Expense/Total Average Assets1.89%1.70%1.88%0.5% Noninterest expense *$146,868$140,491$129,66613.3% Efficiency ratio **48.2%47.3%51.1%(5.7%) Noninterest Expense*/Total Average Assets1.70%1.65%1.86%(8.6%) Headcount (FTE)2,634.02,596.52,487.05.9% 4Q20 vs. 4Q19 •4Q20 headcount up 147 FTEs compared to 4Q19. Headcount up more than 37 FTEs at year end from prior quarter •Incentive accruals for annual cash incentive plan increased to account for incremental award •Deposit related costs up in 2020 due in large part to increased FDIC assessment costs primarily due to the firm’s increased asset base •Lending related costs up in 2020 due to impact of CECL on off-balance sheet reserves, which were $12.6 mm higher in 2020 compared to 2019 •Other noninterest expense increasedue primarily to $10.3 mm in FHLB restructuring charges and $4.7 mm hedge termination charges offset in part by declines in consultant and other professional fees and unused line fees Expenses Were In-line with Expectation for 4Q and YTD 2020 Growth in expenses was largely the result of balance sheet restructuring charges •Share Buy Back Program – •Last transaction on March 19, 2020 •Previous plan expired Dec. 31, 2020 with $67.2 million unused •Board authorized a $125.0 million plan on January 19, 2021 through March 31, 2022 Several Capital Initiatives are Planned to Return in 2021 Tangible book value per share growth remains our focus, but other capital initiatives will be considered •Subordinated Indebtedness – •$130 million of bank-level subordinated debt became eligible for redemption beginning July 2020. Evaluating possible redemption of these notes later in 2021 –rate of 3.3% at Dec. 31, 2020 •$120 million of parent company subordinated debt will become eligible for redemption beginning November 15, 2021. Evaluating possible redemption of these notes in 4Q21 – rate of 5.25% at Dec. 31, 2020 •Dividends – •Board approved an increase in quarterly common shareholder dividend from $0.16 per share to $0.18 per share beginning 1Q 2021 •Tangible Book Value Growth – •Tangible book value per share up 57.1% since Y/E 2017 •Peer group median TBV per share growth from Y/E 2017 through 3Q20 is 37%, 75 th percentile growth is 47% $18.75 $20.06 $23.71 $27.27 $32.45 $37.25 Tangible Book Value per Common Share** 14.9% 18.2% 15.0% 19.0% 14.8% 2016 2017 2018 2019 2020 Focused growth in TBV per share **: excluding goodwill, core deposit and other intangible assets Note: For a reconciliation of these Non-GAAP financial measures to the comparable GAAP measures, see slides 58-59. 13 PNFP is Gaining Optimism about 2021 The results of the pandemic are not completely known, but we are confident in our model 2021 Outlook –as of January 19, 2021 Average Loan Growth •Hiring successes over last two years provide a reasonable basis for our high-single digit loan growth outlook in 2021, excluding impact of PPP paydowns or any new loans from new round of PPP. •Impacting our loan growth outlook in 2021 will be the paydown/forgiveness rate of the current PPP program as well as the robustness of the new PPP program in which we intend to be very engaged. Average DepositGrowth •Anticipate mid-single digit deposit growth in 2021. Significant on-balance sheet liquidity should assist to reduce deposit costs in 2021 to less than our estimated 25 bps. We will be intentional about reducing our deposit costs, primarily with reduced wholesale funding but also through ongoing discussions with our deposit base. •Will continue to develop various core deposit initiatives as we continue to seek strong growth in core deposits over time TangibleCommon Equity •Anticipate TCEto be within our longer-term operating range of 8.75% to 9.75% as liquidity build becomes less impactful. Net interest income •Our bias is that our core margin should be flat to up as our balance sheet expands and deposit rates decline further. •Our planning assumption is high-single digit growth in net interest income. Fee income •We will strive to offset potential decline in mortgage revenues by expansion in other fee segments. •High-single digit growth in BHG revenues anticipated in 2021 Expenses •We intend to be aggressive with recruiting the best financial advisors in our markets which will require increased infrastructure support. •Incentives should return to a more normalized run rate from 2020 reductions. •We believe we continue to have opportunities to improve our operating leverage in 2021. Net Charge offs •Loss content in our loan portfolio should be very manageable as we begin 2021. •Our relationship managers and senior credit officers have effectively re-underwritten the entire commercial portfolio over the last 6-9 months which provides us great confidence as to our client selection processes 14 Bankers’ Healthcare Group BHG’s differentiated model has proven very resilient with continued strong originations, loan sales and yield/spread premium. The gain on sale model continues to provide meaningful pre-provision net revenue to BHG and to Pinnacle. Capital and reserve levels support a very sound balance sheet. BHG expects a second securitization in early 2021 consistent with its desire to convert a greater portion of its revenues to spread income. 16 Gain on Sale Model Drives Outperformance •4Q20 was the highest origination quarter in the history of BHG. •Spreads have been resilient for several years in spite ofinterest rate curve fluctuations. •BHG’s vast bank funding platform has proven to be extremely reliable with ready liquidity to acquire BHG loans and differentiating BHG from other online lenders Source: BHG Internal Data The Pandemic Served to Validate the PNFP/BHG Model BHG continues to originate loans at record levels while maintaining yields $206 $205 $232 $242 $302 $362 $396 $388 $429 $375 $452 $528 $178 $181 $227 $200 $205 $325 $327 $230 $381 $387 $400 $388 14.4% 13.9% 14.4% 15.8% 14.6% 14.6% 14.5% 13.8% 15.8% 14.2% 14.4% 13.8% 5.2% 5.1% 5.2% 5.7% 5.4% 5.3% 5.3% 5.1% 5.2% 5.6% 4.9% 4.3% 0.0% 3.0% 6.0% 9.0% 12.0% 15.0% 18.0% $0 $100 $200 $300 $400 $500 $600 1Q182Q183Q184Q181Q192Q193Q194Q191Q202Q203Q204Q20 OriginationsPlacementsBorrower CouponBank Buy Rate - 200 400 600 800 0 500 1,000 1,500 2017201820192020 Bank Network Trends Total Banks in NetworkUnique Buyers 17 •FICO scores continue to reflect a high caliber borrower base •Average FICO scores of 738 at origination for loans outstanding at Dec 31, 2020. •Historical credit results indicate that 70% of losses occur within first 36 months of origination •Data is through December 31, 2020; thus 2019 information includes 24 months of history. Steady improvement in credit over past 7-8 years. BHG Credit Quality Continues to Impress Sophisticated credit scoring models produce impressive results Historical FICO Scores Source: BHG Internal Data The Pandemic Served to Validate the PNFP/BHG Model Vintage analysis demonstrates continuous improvement in portfolio performance 0%10%20%30%40%50%60%70%80%90%100% 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 <650650-699700-749750-799>800 18 •Recourse obligation reserves increased to 7.64% of total loans outstanding (loans off-balance sheet) of >$3.6B •BHG has been able to build reserves while maintaining its historically strong profitability BHG Credit Quality Continues to Impress Sophisticated credit scoring models produce impressive results Historical Charge Offs and Reserves (Green Bars –Balance of loans in bank network, $s in millions) Source: BHG Internal Data The Pandemic Served to Validate the PNFP/BHG Model Recourse obligation reserve build was maintained in 4Q20 4.04% 3.31% 3.28% 2.40% 3.66% 4.55% 4.17% 3.64% 4.26% 4.20% 3.79% 3.73% 3.22% 3.74% 4.56% 4.71% 4.62% 7.64% $- $500 $1,000 $1,500 $2,000 $2,500 $3,000 $3,500 $4,000 0.00% 1.00% 2.00% 3.00% 4.00% 5.00% 6.00% 7.00% 8.00% 201220132014201520162017201820192020 Total Ending Balance at outside banks only ($millions)Loss as a % of outstanding Recourse Obligation as a % of Outstanding 4.61% 6.43% 7.25% 7.43% 7.64% 0.00% 2.00% 4.00% 6.00% 8.00% 4Q191Q202Q203Q204Q20 2020 Quarterly Recourse Obligation Reserves 19 The Pandemic Served to Validate the PNFP/BHG Model BHG believes its unique model is outperforming other online lenders by a wide margin Big Year at BHG •Balance sheet continues to grow in a sound manner •Closed a $160mm securitization in 3Q20. Anticipate a second securitization in early 2021. First commercial or consumer loan transaction to be rated ‘AA’ by Kroll on the inaugural issuance. Creates a sustainable revenue stream and diversifies away from gain on sale •Equity and reserves keep pace with loan growth. •Cash balances at substantial levels to support growth. •Earnings growth in 2018 and 2019 average 54% percent, pre-Pandemic. Anticipate high-single digit earnings growth in 2021 $0 $200,000 $400,000 $600,000 $800,000 $1,000,000 $1,200,000 2017201820192020 BHG On-Balance Sheet Volumes Cash Loans Borrowings Equity and Reserves $0 $50,000 $100,000 $150,000 $200,000 2017201820192020 BHG Net Earnings COVID-19 and our Borrowers All borrowers have been impacted by COVID-19 to some extent. It seems apparent that segments like hotels, restaurants, retail and entertainment have been most impacted by the loss of revenue from the national and local attempts to contain its spread. But it appears the stimulus has been effective to date as asset quality metrics remain stable through 4Q20 and the incremental stimulus should continue to bolster ongoing asset quality. 16.4% 12.9% 12.4% 13.4% 8.1% Classified Asset Ratio 0.40% 0.55% 0.58% 0.46% 0.38% NPA/ Loans & OREO 0.26% 0.38% 0.34% 0.18% 0.19% Past Dues as a % of Total Loans Asset Quality Has Continued to Hold Up Asset quality metrics remain stable going into the first quarter of 2021 21 Asset Quality Has Continued to Hold Up Loan modifications under Section 4013 of the CARES Act primarily relate to Hotel portfolio Total $ Volume of Modifications* at Dec. 31, 2020 % of Total Loansin Category Hotels$527,13952.0% Retail94,3823.8% Restaurant26,5543.8% Entertainment58,6807.2% All others118,8090.7% Totals$825,5643.7% % of total loans3.7% 22 *: Represents loans modified under Section 4013 of the CARES Act. Modifications by TypeModifications by Risk Rating 23 Asset Quality Has Continued to Hold Up COVID impacted categories continue to outperform expectations Outstanding Balances% Nonperforming Loans% Classified Loans% Past Due > 30 days 4Q204Q194Q204Q194Q204Q194Q204Q19 Hotels NOO CRE & Construction974,263 918,883 0.16%0.34%0.87%0.59%0.70%- Paycheck Protection Program 40,165 Retail C&I, OO CRE & Other$ 999,291 $ 1,101,201 0.10%0.43%0.54%4.55%0.11%0.47% NOO CRE & Construction1,315,776 1,338,668 0.04%0.01%3.16%0.83%0.03%0.35% Paycheck Protection Program 154,872 Restaurants C&I, OO CRE & Other$ 372,989 $ 330,198 0.49%0.11%4.77%1.89%0.50%0.62% NOO CRE & Construction157,019 168,908 0.24%0.04%2.87%2.85%0.44%0.75% Paycheck Protection Program 166,635 Entertainment C&I, OO CRE & Other$ 729,395 $ 542,756 0.22%0.17%0.29%0.59%0.19%0.22% NOO CRE & Construction36,367 40,125 ------ Paycheck Protection Program 44,494 Total COVID Segments $ 4,991,267 $ 4,440,739 0.16%0.21%1.69%1.82%0.27%0.32% Asset Quality Has Continued to Hold Up PNFP invested significant resources to manage credit risk 24 Comprehensive Credit defense work completed during the 4 th quarter included a review of •Extensive review of Hotel loans $1MM and greater. •All non-pass grade exposures > $500,000 •Comprehensive review of our COVID-impacted low pass graded loans. Positives resulting from the credit defense work: •YTD net loan charge offs of 19 basis points. •Nearly $46MM decrease in classified assets from 3 rd Quarter. •Decrease of $4.6MM in NPAs from 3 rd Quarter. •Past due loans at quarter-end only 19 basis points. Moving Forward in this Pandemic The impacts of the COVID-19 pandemic are not fully known. Duration and severity now appear to be a function of the length of time before a vaccine is broadly administered. At this juncture, we intend to continue our aggressive focus on protecting our associates, clients, communities and shareholders. Nevertheless, we believe our long-standing differentiated model for attracting talent and competing based on client intimacy should yield best-in-class growth during the pandemic and, more importantly, better position us for the inevitable share grab that should be available following this period that has already stressed client loyalty for our competitors. 4Q20 Summary •Asset Quality metrics remained excellent •EPS, PPNR and revenues are strong •BHG’s asset quality, originations, placements and spreads remained very strong •Wellpositionedforfuturegrowth 26 •Continue active monitoring of borrowers •Continue reductions in excess liquidity through mid 2021 •Continue focus on EPS and PPNR initiatives that were started in 2020 •Position for once in a generation market share gain opportunity •Continuedhiring of revenue producers from vulnerable competitors Q1 Guidance: Continue the Initiatives that Began in 2020 27 28 Q&A FOURTH QUARTER 2020 Supplemental Information Slide # •Balance Sheet31 •Income Statement51 •Peer Group62 29 Balance Sheet –Loan Portfolio ($ in millions)Amts. 4Q20 % 4Q20 Amts. 3Q20 % 3Q20 Amts. 4Q19 %s 4Q19 Amts. 4Q18 %s 4Q18 C&I $6,239.627.8%$6,144.927.4%$6,290.331.8%$5,271.429.8% C&I –Paycheck Protection Program 1,798.98.0%2,251.010.0%-0.0%-0.0% CRE –Owner Occ. 2,802.212.5%2,748.112.2%2,669.813.5%2,653.415.0% Total C&I & O/O CRE $10,840.748.3%$11,144.049.6%$8,960.145.3%7,924.844.8% CRE –Investment 4,565.020.4%4,648.520.7%4,418.7 22.3% 3,855.621.8% CRE –Multifamily and other 638.32.9%572.02.6%620.8 3.1% 655.93.7% C&D and Land 2,901.812.9%2,728.412.1%2,430.5 12.3% 2,072.511.7% Total CRE & Construction $8,105.136.2%$7,948.935.4%$7,470.0 37.7% 6,584.037.2% Consumer RE 3,099.213.8%3,041.013.5%3,068.6 15.5% 2,844.416.0% Consumer and other 379.51.7%343.51.5%289.3 1.5% 354.32.0% Total Other $3,478.715.5%$3,384.515.0%$3,357.9 17.0% 3,198.718.0% Total loans $22,424.5100.0%$22,477.4100.0%$19,788.0 100.0% $17,707.5100.0% 30 ($ in millions)TOTAL PINNACLETENNESSEE LOANSCAROLINAS/ VA LOANSATLANTAOTHER UNIT LOANS* Amts. 4Q20 Amts. 4Q19 Amts. 4Q20 Amts. 4Q19 Amts. 4Q20 Amts. 4Q19 Amts. 4Q20 Amts. 4Q19 Amts. 4Q20 Amts. 4Q19 C&I $6,239.6$6,290.3$4,401.3$4,635.5$871.4$906.1$28.9$ -$938.0$748.7 C&I –Paycheck Protection Program 1,798.9-------1,798.9- CRE –Owner Occ. 2,802.22,669.81,595.61,562.2990.0965.757.8-158.8141.9 Total C&I & O/O CRE $10,840.7$8,960.1$5,996.9$6,197.7$1,861.4$1,871.8$86.7$ -$2,895.7$890.6 CRE –Investment 4,565.04,418.71,848.91,821.32,606.52,539.47.4-102.258.0 CRE –Multifamily and other 638.3620.8471.3493.5165.7125.5--1.31.8 C&D and Land 2,901.82,430.51,609.71,387.41,256.11,020.22.0-34.022.9 Total CRE & Construction $8,105.1$7,470.0$3,929.9$3,702.2$4,028.3$3,685.1$9.4$ -$137.5$82.7 Consumer RE 3,099.23,068.61,828.21,662.31,142.11,248.514.6-114.3157.9 Consumer and other 379.5289.3165.7159.140.143.70.4-173.386.4 Total Other $3,478.7$3,357.9$1,993.9$1,821.4$1,182.2$1,292.2$15.0$ -$287.6$244.3 Total Loans $22,424.5$19,788.0$11,920.7$11,721.3$7,071.9$6,849.1$111.1$ -$3,320.8$1,217.6 Average Ticket Size (in ‘000s) $279.2$283.2$407.8$398.9$223.7$206.6$218.0$ -$854.8$165.7 Balance Sheet –Loan Portfolio 31 Note: Percentages noted in red text represent year-over-year growth rates. *: Represents mortgage, associate banking, automobile finance and various other business lines. Balance Sheet –Loan Portfolio ($ in millions) TOTAL PINNACLEC&I & O/O CRECRE & CONSTRUCTIONOTHER LOANS* Amts. 4Q20 Amts. 4Q19 Amts. 4Q20 Amts. 4Q19 Amts. 4Q20 Amts. 4Q19 Amts. 4Q20 Amts. 4Q19 Nashville $6,457.9 $6,393.4 $2,721.2 $3,055.4$2,620.4$2,275.4$1,116.3$1,062.6 Knoxville 1,865.8 1,766.6 1,094.3 1,075.7513.0497.8258.5193.1 Music and Entertainment 652.7 468.1 517.7 344.921.520.7113.5102.5 Chattanooga 1,384.1 1,421.4 801.9 842.1314.4320.9267.8258.3 Memphis 1,560.2 1,671.8 861.8 879.5460.6587.3237.8204.9 Total Tennessee $11,920.7 $11,721.3 $5,996.9 $6,197.7$3,929.9$3,702.2$1,993.9$1,821.4 Greensboro/Highpoint 1,692.1 1,679.9 575.7 582.5881.3825.7235.1271.7 Charlotte 2,165.7 2,019.0 508.7 495.81,259.61,129.8397.4393.4 Raleigh 1,230.3 1,199.6 177.0 236.5914.7814.4138.6148.7 Charleston 828.6 891.2 185.8 177.5395.0422.2247.8291.5 Greenville 428.9 412.5 127.3 113.1251.7245.749.953.7 Roanoke 594.2 527.9 173.0 160.6308.8235.0112.4132.4 SBA 132.1 119.0 113.9 105.817.212.41.00.8 Total Carolina/VA $7,071.9 $6,849.1 $1,861.4 $1,871.8$4,028.3$3,685.1$1,182.2$1,292.2 Atlanta 111.1- 86.7 - 9.4-15.0 - Paycheck ProtectionProgram 1,798.9- 1,798.9 - --- - Other 1,521.9 1,217.6 1,096.8 890.6137.582.7287.6244.3 Total $22,424.5 $19,788.0 $10,840.7 $8,960.1$8,105.1$7,470.0$3,478.7$3,357.9 32 Note: Percentages noted in red text represent year-over-year growth rates. *: Represents mortgage, associate banking, automobile finance and various other business lines. Balance Sheet –Loan Portfolio ($ in millions)Amts. 4Q20 % 4Q20 Amts. 3Q20 % 3Q20 Amts. 4Q19 % 4Q19 Amts. 4Q18 % 4Q18 Residential –Spec $230.31.0%$251.91.1%$367.91.9%$352.32.0% Residential –Custom 168.40.8%164.30.7%124.10.6%134.20.8% Residential –Condo 0.40.0%0.40.0%1.20.0%-0.0% Commercial Construct. 1,970.98.8%1,826.68.1%1,515.67.7%1,132.56.4% Land Dev–Residential 290.11.3%280.91.3%259.21.3%165.90.9% Land Dev –Commercial 139.10.6%122.30.5%105.30.5%167.80.9% Land Dev –Mixed Use 35.20.1%21.00.1%3.80.0%39.20.2% Land –Unimproved 67.40.3%61.00.3%53.30.3%80.60.5% Total Constructionand Land Dev. $2,901.812.9%$2,728.412.1%$2,430.512.3%$2,072.511.7% 33 Balance Sheet –Loan Portfolio ($ in millions)TOTAL PINNACLETENNESSEE LOANSCAROLINAS/VA LOANS ATLANTA LOANSOTHER UNIT LOANS Amts. 4Q20 Amts. 4Q19 Amts. 4Q20 Amts. 4Q19 Amts. 4Q20 Amts. 4Q19 Amts. 4Q20 Amts. 4Q19 Amts. 4Q20 Amts. 4Q19 Residential –Spec $230.3$367.9$156.9$258.5$73.2$108.0$ -$ -$0.2$1.5 Residential –Custom 168.4124.1110.372.557.950.4--0.21.3 Residential –Condo 0.41.20.41.2------ Commercial Construct. 1,970.91,515.61,003.6790.9949.3720.31.3-16.74.4 Land Dev–Residential 290.1259.2181.7158.691.587.40.6-16.313.2 Land Dev –Commercial 139.1105.395.665.642.938.9--0.60.8 Land Dev –Mixed Use 35.23.88.53.226.70.6---- Land –Unimproved 67.453.352.836.914.614.7---1.6 Total Constructionand Land Dev. $2,901.8$2,430.5$1,609.8$1,387.4$1,256.1$1,020.2$1.9$ -$34.0$22.9 Average Ticket Size (in ‘000s) $730.6$609.8$749.8$666.4$719.0$556.3$281.4$ -$478.9$326.9 34 Balance Sheet –Loan Portfolio ($ in millions) Total NOO and MultifamilyTotal ConstructionTotal NOO and Construction Amts. 4Q20 Amts. 3Q20 Amts. 4Q19 Amts. 4Q20 Amts. 3Q20 Amts. 4Q19 Amts. 4Q20 Amts. 3Q20 Amts. 4Q19 Multifamily $618.3$571.6$620.8$750.9$651.0$471.3$1,369.2$1,222.6$1,092.1 Hospitality 830.8773.2771.695.0122.362.8925.8895.5834.4 Retail 1,284.31,319.01,376.7191.0201.2168.71,475.31,520.21,545.4 Office 807.0801.1703.3186.1185.9154.3993.1987.0857.6 Warehouse 643.5762.3758.7355.3329.7354.7998.81,092.01,113.4 Medical 523.3474.6398.8103.9124.2153.0627.2598.8551.8 Other 496.1518.7409.61,219.61,114.11,065.71,715.71,632.81,475.3 Total $5,203.3$5,220.5$5,039.5$2,901.8$2,728.4$2,430.5 $8,105.1$7,948.9$7,470.0 Average Ticket Size (in ‘000s) $1,892.4$1,889.2$1,759.1$731.1$688.7$609.8 $1,207.7$1,182.8$1,091.0 35 Hotel Portfolio Amounts as of 12.31.20 36 ADR, RevPAR & Occupancy Trendlines Hotel Property TypesHotel Flags Hotel Portfolio Amounts as of 12.31.20 37 Hotel Construction Type, Delivery Dates, Volumes 10 Largest Hotel Loans Location Exposure at 12.31.20 ('000s)Loan TypeFlag Hotel Property Type CARES Act Section 4013 Modification LITTLE ROCK, AR $ 32,894Term MarriottFull ServiceYes NASHVILLE, TN 31,161Construction MarriottLimited ServiceNo NASHVILLE, TN 28,896Term MarriottFull ServiceYes ATLANTA, GA 26,578Term MarriottLimited ServiceNo ALPHARETTA, GA 25,263Construction HiltonFull ServiceNo NASHVILLE, TN 25,000Term IntercontinentalFull ServiceYes FRANKLIN, TN 24,661Term HiltonFull ServiceYes WALLAND, TN 24,625Term IndependentResort/ Conference CenterNo CHATTANOOGA, TN 17,805Term MarriottFull ServiceNo FRANKLIN, TN 15,694Term HiltonLimited ServiceYes $252,57824.9% of hotel loans Top 10 Hotel Borrowers PNFP Hotel Property Type Descriptions are as follows: Economy–The economy sector often is used to categorize the smaller, older, low-rise buildings. Characteristics include limited to no service and some may even have exterior room access. An economy hotel is for the budget minded traveler and examples of flags include; Motel 6, Americas Best Value Inn, La Quinta, Comfort Inn, BaymontInn, Red Roof Inn, Super 8, Fairfield Inn, or perhaps an independent roadside property. Limited Service –This sector is also known as select service and may offer limited food & beverage options. These properties often include amenities such as a business center, fitness room, and pool, and are represented by brands like Hilton Garden Inn, Truby Hilton, Courtyard by Marriott and Hyatt Place. Extended Stay-Extended Stay hotels include provisions for cooking within individual rooms or suites, and the average stay is often a week or more. Full Service -Full servicehotels are generally mid-price, upscale or luxury hotels with a restaurant, lounge facilities, and meeting space as well as minimum service levels often including bell service and room service. Other –Property types not included in the above type descriptions including resort/conference center hotels, Airbnb and bed and breakfast hotel types. Hotel Type (Construction) Hotel Flag (Construction) Restaurant Portfolio Amounts as of 12.31.20 38 Location Exposure at 12.31.20 ('000s) LTV at 12.31.20Food Service Type CARES Act Section 4013 Modification Nashville,TN$ 39,75037%Fine DiningNo Lebanon, TN32,787 Stock of Subs Casual DiningNo Morristown, TN24,265FF&EQuick ServiceNo Dallas, TX15,15544%Fine DiningNo Nashville,TN13,37578%QuickServiceNo $125,33223.6% of Restaurant portfolio C&I and Owner-Occupied CRE Restaurant Borrowers with Exposure Greater than $10mm Location Outstanding at 12.31.20 ('000s) Franchise Name CARES Act Section 4013 Modification NASHVILLE, TN $ 7,519 Local/Independent No CLEMMONS, NC 4,588BojanglesNo STATESVILLE, NC 4,203Cici’sPizzaYes COLUMBIA, SC 3,893Local/IndependentNo NASHVILLE, TN 3,817Local/IndependentNo RALEIGH, NC 3,114Local/IndependentNo ERWIN, TN 2,917BojanglesNo FREDERICKSBURG, VA 2,917Local/ IndependentNo MOUNT PLEASANT, SC 2,564Local/IndependentNo CHARLESTON, SC 2,504Local/IndependentNo $ 38,0365.5% of Restaurant portfolio Top 10 Non Owner-OccupiedCRE Restaurant Borrowers PNFP Restaurant Property Type Descriptions are as follows: Casual Dining –Target market could be the traveling public with in-store dining and wait staff. Limited bar service. Fine Dining –Target market are those customers looking for a complete dining experience. Full bar and wine service. Quick Service –Most likely a drive through facility with counter ordering. No wait staff and/or very limited alcoholic beverage service. CRE Loans –PNFP has provided funding to developer or restaurant owner who leases facility to their restaurant entity which could be an independent operator or a franchise. Other –Other properties include bars, caterers, etc. Restaurants by Type Retail Portfolio Amounts as of 12.31.20 39 Retail C&I Portfolio Highlights: Retail CRE O/O Portfolio Highlights: 10 Largest Retail Relationships Exposure at 12.31.20 ('000s) Loan Type Tenant Type CARES Act Section 4013 Modification NASHVILLE, TN$ 54,950TermGrocery Anchored Shopping CenterNo NEW BERN, NC26,320TermRetail Power Center or Lifestyle CenterNo DELRAY BEACH, FL26,000TermGrocery Anchored Shopping CenterYes GREENSBORO, NC24,378TermGrocery Anchored Shopping CenterNo OLAR, SC21,549TermRetail Power Center or Lifestyle CenterNo NASHVILLE, TN19,104TermNon-Anchored Multi Tenant Shopping CenterNo FORT MILL, SC16,158TermNon-Anchored Multi Tenant Shopping CenterNo SUMMERVILLE, SC16,013TermGrocery Anchored Shopping CenterYes NASHVILLE, TN14,914TermSingle TenantNo NASHVILLE, TN14,856TermGrocery Anchored Shopping CenterNo $ 234,24219.3% of Retail Portfolio Top 10 Retail NOO CRE Tenant Type Descriptions are as follows: •Grocery Anchored Shopping Centeris otherwise known as the “Neighborhood Center”, this is a convenience orientedcenter and usually services a 3-mile radius. The grocery anchored encompasses 30-50% of the GLA, and the typical number of tenants range from 5-20 stores. •Other Retail Anchored Shopping Center this is a larger center that services the local area, howeveroffers a wider range of apparel, merchandise, more soft goods and convenience-service oriented stores than neighbor centers. Several tenants maybe considered anchors and the typical number of stores range from 15-40. •Non-Anchored, Multi-Tenant Shopping Center also considered a convenience center, is among the smallest of centers, whose tenants provide a narrow mix of goods and personal services to a very limited trade area. •Regional Mall consists of general merchandise or fashion-oriented offerings.Typically, enclosed with inward-facing stores and parking surrounds the outside perimeter. •Retail Power Center or Lifestyle Center –A power center is comprised of category-dominant anchors over 60% of the GLA. There are usually 3-5+ anchor tenants, and services a wider trade area. A Lifestyle center is an upscale dining, shopping, and entertainment venue in an outdoor setting. •Single Tenant property is fully occupied by a single user and often feature a NNN lease structure. CRE-NOO by Tenant Type Entertainment Portfolio Amounts as of 12.31.20 40 10 Largest Entertainment Relationships ('000) Exposureat 12.31.20 ('000s)Loan Type Entertainment Type CARES Act Section 4013 Modification Needham Heights, MA $ 50,000C&I Recording Industry No United Kingdom 43,844C&I Recording Industry No New York, NY 43,531C&I Recording Industry No New York, NY43,000C&IPerformers, Agents & Spectator SportsNo London, UK 40,000C&I Recording Industry No Wayland, MA 39,800C&I Recording Industry No New York, NY 35,698C&I Recording Industry No Ontario, CA 34,080C&I Recording Industry No Los Angeles, CA 33,000C&I Performers, Agents & Spectator Sports No Providence, RI 31,917C&I Recording Industry No $ 394,87037.6% of EntertainmentPortfolio Entertainment by Type Balance Sheet –Loan Portfolio Lines of Credit 41 ($'s in millions) 9/30/201912/31/20193/31/20206/30/20209/30/202012/31/2020 Linked Qtr. Change CRE –Investment & Construction Net Active Balance$ 3,814.50 $ 3,870.10 $ 3,929.10 $ 4,090.80 $4,067.10$4,106.82$39.72 Net Available Credit2,894.50 3,002.60 3,018.50 3,029.60 3,060.303,191.47131.17 Total Exposure6,708.90 6,872.90 6,947.60 7,120.30 7,127.507,298.29170.79 % Funded56.9%56.3%56.6%57.5%57.1%56.3%-0.8% C&I and O/O CRE Net Active Balance$ 3,805.10 $ 3,911.20 $ 4,214.00 $ 3,702.60 $3,630.10$3,367.16($262.94) Net Available Credit3,784.90 3,694.00 3,693.70 4,312.10 4,734.504,674.90(59.60) Total Exposure7,590.20 7,605.10 7,907.60 8,014.70 8,364.608,042.06(322.54) % Funded50.1%51.4%53.3%46.2%43.4%41.9%-1.5% Consumer Net Active Balance$ 1,354.10 $ 1,340.00 $ 1,364.20 $ 1,333.30 $1,302.20$1,571.21$269.01 Net Available Credit1,412.00 1,445.30 1,477.40 1,534.10 1,583.201,826.24243.04 Total Exposure2,766.10 2,785.20 2,841.40 2,867.60 2,885.603,397.45511.85 % Funded49.0%48.1%48.0%46.5%45.1%46.2%1.1% Totals Net Active Balance$ 8,973.70 $ 9,121.30 $ 9,507.30 $ 9,126.70 $8,999.40$9,045.19$45.79 Net Available Credit8,091.40 8,141.90 8,189.60 8,875.80 9,378.009,692.61314.61 Total Exposure17,065.20 17,263.20 17,696.60 18,002.60 18,377.7018,737.80360.10 % Funded52.6%52.8%53.7%50.7%49.0%48.3%-0.7% Total Allowance for Credit Losses for loans = $285.1 mm or 1.27% of loans atDecember 31, 2020, or 1.38% excluding PPP loans (1)Calculation based on end of period loan balance (2)Net charge-off percentage calculation is annualized and in relation to avg. quarterly loan balances (3)For a reconciliation of this Non-GAAP financial measures to the comparable GAAP measures, see slide 58. •3 rd party economic forecast model provides significant inputs into ACL calculation •Unemployment and GDP are primary economic forecast metrics •Weighted average of Baseline (50%), Optimistic (20%) and Pessimistic (30%) scenarios used in 4Q ACL% of Loans Off-Balance Sheet Total ACL December 31, 2019$94,7770.48% (1) $2,364$97,141 Day One CECL impact$38,1030.19% (1) $8,774$46,877 Beginning –January 1, 2020$132,8800.67% (1) $11,138$144,018 Net Charge Offs($10,155)0.20% (2) ($10,155) 1Q Provision$99,740$5,156$104,896 AtMarch 31, 2020$222,4651.09% (1) $16,294$238,759 Net Charge Offs($5,385)0.10% (2) ($5,385) 2Q Provision$68,292$4,500$72,792 AtJune30, 2020$285,3721.27% (1) $20,794$306,166 Net Charge Offs($13,057)0.23% (2) ($13,057) 3Q Provision$16,330$425$16,755 AtSeptember30, 2020$288,6451.28% (1) $21,219$309,864 Net Charge Offs($10,775) 0.19% (2) ($10,775) 4Q Provision$7,180 $2,000$9,180 AtDecember 31, 2020$285,050 1.27% (1) $23,219$308,269 AtDecember 31, 2020 Excluding PPP Loans (3) 1.38% (1) Forecasted economicmetrics (1) BaseCase Outlook at:1Q213Q211Q223Q22 US UnemploymentRates 3Q206.85%6.31%5.59%4.80% 4Q206.33%5.65%4.79%4.48% US Real GDP Change 3Q20(2.87%)(1.11%).66%2.51% 4Q20(1.45%).28%2.34%3.86% (1)Weighted metrics are used in PNFP CECL assessment. Unemployment rates are quarterly averages. US Real GDP rates are change in quarterly GDP from 4Q19 $55 $44 $38 $32 $28 $- $25 $50 $75 Remaining Purchase Accounting Discount Trends (millions of dollars) Note: Above amounts not included in ACL balances above Current Expected Credit Losses 42 Current Expected Credit Losses Allowance for Credit Losses December 31, 2019 Probable Incurred Losses January 1, 2020 CECLAdoption March 31, 2020 CECL June 30, 2020 CECL September 30, 2020 CECL December 31, 2020 CECL Amount% of LoansAmount% of LoansAmount% of LoansAmount% of LoansAmount% of LoansAmount% of Loans Commercial and Industrial $ 36,112 0.57%$ 59,114 0.94%$ 88,032 1.30%$ 100,6101.60% *$ 102,2081.66% *$ 98,4231.58% * Commercial Real Estate33,369 0.43%28,894 0.37%55,748 0.72%107,2291.33%106,2851.33%102,4301.28% Construction and Land Development 12,662 0.52%9,537 0.39%38,911 1.54%41,8971.63%41,2221.51%42,4081.46% Consumer Real Estate8,054 0.26%29,109 0.95%32,997 1.06%29,3580.96%31,9491.05%33,3041.07% Consumer and Other4,5801.58%6,226 2.15%6,776 2.29%6,2782.13%6,9812.03%8,4852.24% Allowance for Loan Losses$ 94,777 0.48%$ 132,880 0.67%$ 222,464 1.09%$ 285,3721.41%* $ 288,6451.43%* $ 285,0501.38% * Reserve for unfunded commitments2,364 11,138 16,294 20,79421,21923,219 Allowance for Credit Losses -Total$ 97,141 $ 154,018 $ 238,758 $ 306,166$ 309,864$ 308,269 43 Note: Reserve percentages for C&I and total loans atJune 30, 2020, September 30, 2020 and December 31, 2020 exclude SBA PPP loans. For a reconciliation of this Non-GAAP financial measures to the comparable GAAP measures, see slide 58. Asset Quality (*) Excludes past due loans rated substandard 44 ($in millions)December 31, 2020 AS A % OF TOTALLOANS September 30, 2020 AS A % OF TOTALLOANS December 31, 2019 AS A % OF TOTALLOANS NPLs and > 90 days Const. and land development $1,9540.01%$3,1520.01%$2,2780.01% Consumer RE 22,4630.10%22,1760.10%24,8350.13% CRE –Owner Occupied 10,2300.05%10,6250.05%11,6540.06% CRE –Non-Owner Occupied 5,2200.02%5,8600.03%7,0010.04% Total real estate $39,8660.18%$41,6820.19%$45,9400.23% C&I 36,0240.16%28,9480.13%16,6310.08% Other3080.00%7600.01%6490.00% Total loans $76,1970.34%$71,3900.32%$63,2200.32% Classified loans and ORE Substandard commercial loans$222,7960.99%$261,7741.16%$314,7321.59% Doubtful commercial loans-0.00%-0.00%10.00% Other impaired loans24,5520.11%25,3160.11%25,4820.13% 90 days past due and accruing (*)2,3620.01%1,3130.01%1,6150.01% Other real estate12,3600.06%19,4450.09%29,4870.15% Other repossessed assets-0.00%-0.00%-0.00% Total$262,0691.17%$307,8491.37%$371,3181.88% Pinnacle Bank classified asset ratio8.1%9.9%13.4% 45 Balance Sheet –Loan Portfolio -0.20% -0.10% 0.00% 0.10% 0.20% 0.30% 0.40% 0.50% CREConstructionC&INet commercial charge offs Net Commercial Loan Charge Offs by Loan Type 20162017201820192020 -1.00% 0.00% 1.00% 2.00% 3.00% 4.00% 5.00% 6.00% 7.00% 8.00% Consumer REConsumer and otherNet consumer charge offs Net Consumer Loan Charge Offs by Loan Type 20162017201820192020 Balance Sheet –Loan Portfolio ($ in thousands) Description4Q203Q202Q201Q204Q193Q19 Loans secured by real estate: Construction, land development, and other loans: 1-4 family residentialconstruction loans$514,819$527,743$580,193$582,106$578,443$575,975 Other constructionloans and all land development and other land loans2,386,9272,200,6961,994,3011,938,8311,852,0401,677,328 Loans included in the 100% test$2,901,746$2,728,439$2,574,494$2,520,937$2,430,483$2,253,303 Securedby multifamily (5 or more) residential properties$663,664$578,948$574,328$551,963$631,616$686,385 Loans securedby other nonfarm nonresidential properties4,565,0404,648,4574,822,5374,520,2344,418,6584,443,687 Financed realestate not secured by real estate 475,339503,081493,494309,990317,949306,738 Loansincluded in the 300% test$5,704,043$8,458,925$8,464,853$7,903,124$7,798,706$7,690,113 Total Risk-Based Capital$8,605,789$3,146,468$3,078,671$2,993,005$2,906,853$2,818,988 %ofTotal Risk-Based Capital 100% Test –Constructionand LandDevelopment89%87%84%84%84%80% 300% Test –Construction and Land Development + NOOCRE + Multifamily264%269%275%264%268%273% 46 Balance Sheet –Deposit Portfolio ($ in millions) TOTAL DEPOSITSCORE DEPOSITSNONCORE DEPOSITS TOTAL PINNACLETRANSACTION AND MMDACDsPUBLIC FUNDS and OTHER DEPOSITS 4Q204Q194Q20 4Q19 4Q204Q194Q204Q19 Nashville$10,556.1$7,844.6 $9,856.2$6,990.3 $469.5$561.4 $230.4$292.9 Knoxville2,295.21,640.72,168.61,459.290.3128.336.353.2 Music and Entertainment344.6383.0336.2376.21.81.86.65 Memphis1,356.01,004.71,151.3796.6139.5154.865.253.3 Chattanooga1,508.51,053.21,414.6925.446.458.947.568.9 Total Tennessee$16,060.4$11,926.2 $14,926.9$10,547.7 $747.5$905.2 $386.0$473.3 Greensboro/Highpoint2,501.41,997.02,077.81,587.8269.6272.6154.0136.6 Charlotte1,572.91,279.11,311.9956.6161.520199.5121.5 Charleston1,087.5971.4944.1764.3118.616924.838.1 Raleigh777.9629.0716.3553.943.65418.021.1 Roanoke844.8643.6726.5490.396.8130.721.522.6 Greenville370.1339.7287.4219.264.684.218.136.3 Total Carolinas / VA$7,154.6$5,859.8 $6,064.0$4,572.1 $754.7$911.5 $335.9$376.2 Atlanta112.7-112.7----- Other4,377.92,394.9890.6639.014.642.03,472.71,713.9 Total$27,705.6$20,180.9$21,994.2$15,758.8 $1,516.8$1,858.7 $4,194.6$2,563.4 47 Note: Percentages noted in red text represent year-over-year growth rates. Balance Sheet –Bond Portfolio Conservative bond portfolio ●Investmentsto Total Assets of 13.2% 48 3.3% 2.6% 32.0% 4.8% 3.9% 53.4% Agency/TreasuryCorporatesMBSAsset BackedCMOsMunicipals Portfolio: December 31, 2020 Total Investments $4.6billion Net Unrealized Gain$124.6 million QuarterDurationAvg. Yield-TE 4Q204.35%2.3% 3Q204.7%2.4% 2Q204.6%2.6% 1Q204.3%2.8% 4Q194.8%2.9% 3Q194.4%3.0% 2Q194.1%3.2% 1Q193.7%3.4% 4Q183.6%3.2% 3Q184.4%3.1% 2Q183.9%2.9% 1Q183.5%2.9% 49 Note: See slide 61for peer group utilized in the above analysis. Source: S&P Global 77% 79% 80% 76%76% 23% 21% 20% 24% 24% Dec. 2019Mar. 2020Jun. 2020Sep. 2020Dec. 2020 Effective Bond Portfolio Composition End of Period Fixed RateVariable Rate Balance Sheet –Bond Portfolio 2.27 13.2 - 5.0 10.0 15.0 20.0 25.0 30.0 35.0 40.0 - 0.50 1.00 1.50 2.00 2.50 3.00 3.50 4.00 2015Q32015Q42016Q12016Q22016Q32016Q42017Q12017Q22017Q32017Q42018Q12018Q22018Q32018Q42019Q12019Q22019Q32019Q42020Q12020Q22020Q32020Q4 % of Total Assets Bond Yields PNFP - Bond YieldsPeer Median - Bond Yields PNFP - % of Total AssetsPeer Median - % of Total Assets Interest Rate Sensitivity 50 IRR analysis indicates neutral balance sheet positioning; 100bp +/-ramps and shocks generate <1% NII moves 2.1% 1.0% 0.3% -0.9% -0.3% -0.2% -0.4% -0.4% -2.6% -0.9% -0.7% 0.6% -1.1% 0.9% 0.7% 0.4% -3.0% -2.0% -1.0% 0.0% 1.0% 2.0% 3.0% 1Q192Q193Q194Q191Q202Q203Q204Q20* Net Interest Income % D Rate Shock Scenarios Ramp +100Ramp -100 4.1% 2.2% 1.0% -1.2% -0.3% 0.0% -0.4% -0.4% -5.3% -2.1% -1.7% 0.6% -3.1% 0.6% 0.4% -0.1% -6.0% -4.0% -2.0% 0.0% 2.0% 4.0% 6.0% 1Q192Q193Q194Q191Q202Q203Q204Q20* Net Interest Income % D Rate Ramp Scenarios Shock +100Shock -100 *4Q20 IRR analysis based on 11/30/20 data NIM Adjusted for PPP and Liquidity Impact 51 Estimate PPP and Liquidity Build negatively impacted 4Q20 NIM by 0.29% (2) Yields computed on tax-exempt instruments on a tax equivalent basis and included $8.4 million of taxable equivalent income for the three months ended December 31, 2020 compared to $8.1 million for the three months ended December 31, 2019. The tax-exempt benefit has been reduced by the projected impact of tax-exempt income that will be disallowed pursuant to IRS Regulations as of and for the then current period presented. (1) Average balances of nonperforming loans are included in the above amounts. (3) Net interest margin is the result of annualized net interest income calculated on a tax equivalent basis divided by average interest-earning assets for the period. Actual Avg Balances 4Q20 ProForma Adjustments Adjusted Avg Balances after PF EntriesInterest ProForma Adjustments Adjusted Interest after PF EntriesRates/ Yields ProForma Yield/ Rate Adj. Adj. Yield/ Rates after PF Entries Loans (1)(2) $ 22,525$ (2,110) a $ 20,414 $ 232.6 $ (24.6) a $ 208.0 4.20%4.64% a 4.16% Securities (2) Taxable2,236 2,236 7.57.5 1.34%1.34% Tax-exempt2,3322,332 15.4 15.4 3.16%3.16% Other1571570.60.61.52%1.52% Fed funds sold & Interest- bearing deposits3,464 (2,978) b 486 0.9 $ (0.8) b 0.1 0.10%0.11% b 0.09% $ 30,714 (5,088)$ 25,626 $ 257.0 $ (25.4)$ 231.6 3.44%3.60% Nonearning assets3,723 3,723 $ 34,437 $ (5,088)$ 29,348 Total deposits and Interest- bearing liabilities29,239 (5,088) a,b 24,150 36.1 (6.3) a,b 29.80.49%0.49% a,b 0.49% Other liabilities346 346 Stockholders' equity4,852 4,852 $ 34,437 $ (5,088)$ 29,348 Net Interest income$ 221.0 $ (19.1)$ 201.9 Net interest margin (3) 2.97%0.29%3.27% Pro Forma Adjustments a Average balances of PPP loans carried during 4Q20 at an average yield of 4.64%; assume funded from all funding sources. b Estimated average balances of excess liquidity carried during 4Q20 with average yield of 0.11%; assume funded from all funding sources. NIM Adjusted for PPP and Liquidity Impact 52 Estimate PPP and Liquidity Build negatively impacted 3Q20 NIM by 0.40% (2) Yields computed on tax-exempt instruments on a tax equivalent basis and included $7.3 million of taxable equivalent income for the three months ended Sept. 30, 2020 compared to $7.5 million for the three months ended September 30, 2019. The tax-exempt benefit has been reduced by the projected impact of tax-exempt income that will be disallowed pursuant to IRS Regulations as of and for the then current period presented. (1) Average balances of nonperforming loans are included in the above amounts. (3) Net interest margin is the result of annualized net interest income calculated on a tax equivalent basis divided by average interest-earning assets for the period. Actual Avg Balances 3Q20 ProForma Adjustments Adjusted Avg Balances after PF EntriesInterest ProForma Adjustments Adjusted Interest after PF EntriesRates/ Yields ProForma Yield/ Rate Adj. Adj. Yield/ Rates after PF Entries Loans (1)(2) $ 22,493 $ (2,235) a $ 20,258 $ 224.5 $ (15.6) a $ 208.9 4.04%2.77% a 4.19% Securities (2) Taxable2,226 2,226 8.38.3 1.43%1.48% Tax-exempt2,194 2,194 15.0 15.0 3.37%3.29% Other1521520.60.61.62%1.62% Fed funds sold & Interest- bearing deposits3,127 (2,616) b 511 0.8 $ (0.7) b 0.1 0.10%0.10% b 0.10% $ 30,192 (4,851)$ 25,341 $ 249.2 $ (16.3)$ 232.9 3.38%3.79% Nonearning assets3,647 3,647 $ 33,839 $ (4,851)$ 28,988 Total deposits and Interest- bearing liabilities28,731 (4,851) a,b 23,880 42.6 (7.2) a,b 35.4 0.59%0.59% a,b 0.59% Other liabilities342 342 Stockholders' equity4,766 4,766 $ 33,839 $ (4,851)$ 28,988 Net Interest income$ 206.6 $ (9.0)$ 197.5 Net interest margin (3) 2.82%0.40%3.22% Pro Forma Adjustments a Average balances of PPP loans carried during 3Q20 at an average yield of 2.77%; assume funded from all funding sources. b Estimated average balances of excess liquidity carried during 3Q20 with average yield of 0.10%; assume funded from all funding sources. NIM Adjusted for PPP and Liquidity Impact 53 Estimate PPP and Liquidity Build negatively impacted 2Q20 NIM by 0.32% (2) Yields computed on tax-exempt instruments on a tax equivalent basis and included $6.9 million of taxable equivalent income for the three months ended June 30, 2020 compared to $6.9 million for the three months ended June 30, 2019. The tax-exempt benefit has been reduced by the projected impact of tax-exempt income that will be disallowed pursuant to IRS Regulations as of and for the then current period presented. (1) Average balances of nonperforming loans are included in the above amounts. (3) Net interest margin is the result of annualized net interest income calculated on a tax equivalent basis divided by average interest-earning assets for the period. Actual Avg Balances 2Q20 ProForma Adjustments Adjusted Avg Balances after PF EntriesInterest ProForma Adjustments Adjusted Interest after PF EntriesRates/ Yields ProForma Yield/ Rate Adj. Adj. Yield/ Rates after PF Entries Loans (1)(2) $ 22,257 $ (1,689) a $ 20,568 $ 226.28 $ (12.12) a $ 214.16 4.16%2.89% a 4.27% Securities (2) Taxable2,157 2,157 9.59 9.59 1.79%1.79% Tax-exempt2,038 2,038 14.60 14.60 3.44%3.44% Fed funds sold2,619 (1,967) b 652 1.27 $ (0.42) b 0.85 0.20%0.09% b 0.29% $ 29,071 (3,656)$ 25,415 $ 251.74 $ (12.54)$ 239.19 3.58%3.89% Nonearning assets3,715 3,715 $ 32,786 $ (3,656)$ 29,130 Total Deposits and Interest Bearing Liabilities27,919 (3,656) a,b 24,263 51.08 (6.69) a,b 44.39 0.74%0.74% a,b 0.74% Other liabilities368 368 Stockholders' equity4,499 4,499 $ 32,786 $ (3,656)$ 29,130 Net Interest income$ 200.66 $ (5.86)$ 194.80 Net interest margin (3) 2.87%0.32%3.19% Pro Forma Adjustments a Average balances of PPP loans carried during the first quarter of 2020 at an average yield of 2.89%. Assume funded from all funding sources. b Estimated average balances of excess liquidity carried during second quarter of 2020 with average yield in second quarter of 0.09%. Assume funded from all funding sources. Income Statement –Revenue per Common Share *: excluding gains and losses on sales of investment securities. For a reconciliation of these Non-GAAP financial measures to the comparable GAAP measures, see slide 59. Note: See slide 61 for peer group utilized in the above analysis. Peer group calculated by aggregating total peer revenues by total peer weighted avg. shares for each quarter. Source: S&P Global 54 $10.20 $10.27 $10.49 $10.73 $11.10 $11.43 $11.74 $12.13 $12.42 $12.92 $13.44 $13.54 $13.87 $14.05 $14.35 $15.07 13.0% 7.3% 5.0% 5.3% 8.8% 11.3% 11.9% 13.0% 11.9% 13.0% 14.5% 11.6% 11.6% 8.7% 6.8% 11.4% 5.4% 5.0% 4.0% 5.2% 7.5% 7.1% 7.6% 6.2% 5.2% 5.2% 4.3% 5.5% 7.5% 7.3% 3.4% 0.0% 3.0% 6.0% 9.0% 12.0% 15.0% $10.00 $10.50 $11.00 $11.50 $12.00 $12.50 $13.00 $13.50 $14.00 $14.50 $15.00 $15.50 1Q172Q173Q174Q171Q182Q183Q184Q181Q192Q193Q194Q191Q202Q203Q204Q20 Y/Y Revenue per Share Growth Revenue per Share LTM Revenue Per Share Growth vs. Peers PNFP LTM Revenue/SharePNFP Y/Y GrowthPeer Median Y/Y Growth Income Statement –Mortgage Volumes 1.00% 1.50% 2.00% 2.50% 3.00% 3.50% 4.00% 4.50% 5.00% $25,000 $100,000 $175,000 $250,000 $325,000 $400,000 $475,000 $550,000 $625,000 Purchase Money Refinance Gross fees as a % of loans originated 55 56 Note: For a reconciliation of PPNRpershareto the comparable GAAP measures, see slide 60. ($'s in thousands) 2017201820192020 PPNR Trends Net interest income $543,306$ 736,342$ 766,142$821,788 Noninterest income 144,904200,850263,826317,840 Noninterest expense (366,560)(452,867)(505,148)(576,536) PPNR before adjustments$ 321,650$ 484,325$ 524,820$563,092 Adjustments to PPNR Investment (gains) and losses$ 8,265$ 2,254$ 5,941($986) Loss on sale of non-prime automobile portfolio--1,536- ORE expense1,0797234,2288,555 Merger charges31,8438,259-- FHLB restructuring charges---15,168 Hedge termination charges---4,673 Branch rationalization charges--3,189- Adjusted PPNR $ 362,837$ 495,561$539,714$590,502 Adjusted PPNR growth rate63.8%36.6%8.9%9.4% Adjusted Net PPNR per share$5.64$6.40$ 7.03$7.81 PPNR/share growth rate, annualized11.5%13.5%9.8%11.1% PPNR Growth Now in Focus by Pinnacle Management Despite the operating environment, PPNR grows meaningfully in 2020 We believe key to success in 2021 will be our focus on growing PPNR in 2020 $0 $100 $200 $300 $400 $500 $600 2017201820192020 Annual Adjusted PPNR CAGR 12.9% 57 BHG Financials Strong equity to support business model Source: BHG Internal Data, unaudited •Strong performance in 4Q20 •Strong cash position to provide increased liquidity and, thus, better withstand any Pandemic losses At Dec 31, 2020 At Sep 30, 2020 At Dec 31, 2019 Cash and Cash Equivalents226,021,806$ 279,561,516$ 135,608,161$ Loans Held for Investment746,666,937$ 704,103,111$ 347,006,384$ Allowance for Loan Losses(20,748,312)$ (19,445,942)$ (7,026,159)$ Loans Held for Sale285,536,601$ 211,420,789$ 322,783,628$ Premises and Equipment45,999,051$ 40,250,232$ 10,343,685$ Other assets46,840,457$ 33,640,650$ 31,682,454$ Total Assets1,330,316,540$ 1,249,530,356$ 840,398,153$ Recourse Obligation280,240,075 256,268,119 117,957,667 Secured Borrowings630,981,296 623,992,105 316,728,601 Notes Payable21,178,382 21,307,979 78,409,733 Borrower Reimbursable Fee73,374,384 67,506,291 53,781,395 Other Liabilities82,360,635 37,387,310 74,159,330 1,088,134,771$ 1,006,461,804$ 641,036,726$ Equity (all Tangible)242,181,769 243,068,552 199,361,427 Total Liabilities & Stockholders Equity1,330,316,540$ 1,249,530,356$ 840,398,153$ Loan Liability at Other Banks3,666,390,594 3,448,749,523 2,557,060,031 Total Outstanding Loan Liability4,392,309,220 4,133,406,692 2,897,040,256 Soundness Statistics: Cash to Assets16.99%22.37%16.14% Equity to Assets18.20%19.45%23.72% Recourse Obligation to Loans at Other Banks7.64%7.43%4.61% Allowance to Loans Held for Investment2.78%2.76%2.02% Total Reserves against Total Outstanding6.85%6.67%4.31% Total Liabilities 4Q 20203Q 20204Q 2019 Gains on Loan Sales & Origination Fees105,032,963$ 105,445,353$ 62,473,256$ Interest and Dividend Income28,320,557 18,030,655 20,263,508 Other Income5,330,775 5,034,193 4,021,732 Total Revenues138,684,295 128,510,201 86,758,496 Expenses related to Loan Portfolio Management Provision expense6,394,528 13,608,411 5,047,488 Interest expense 6,216,365 4,739,365 3,615,732 Other 3,356,300 2,266,388 3,177,173 Total15,967,192 20,614,164 11,840,393 Salary and benefits39,989,878 26,876,112 28,489,563 Marketing expenses18,141,939 15,035,532 9,407,062 Other expenses14,225,473 14,525,439 10,622,982 Total operating expenses72,357,291 56,437,083 48,519,607 Net Earnings50,359,812$ 51,458,954$ 26,398,496$ Profitability Statistics Earnings to Revenues36.31%40.04%30.43% Portfolio Mgmt Expense to Revenues11.51%16.04%13.65% Operating Expenses to Revenues52.17%43.92%55.92% *Interest Income Includes I/O strip interest income Income Statement Reconciliation of Non-GAAP Financial Measures 58 Income Statement Reconciliation of Non-GAAP Financial Measures 59 Income Statement Reconciliation of Non-GAAP Financial Measures 60 Peer Group Institution Name Ticker City, State Pinnacle Financial PartnersPNFPNashville, TN Valley National BancorpVLYWayne, NJ BancorpSouth, Inc.BXSTupelo, MS Bank of the Ozarks, Inc.OZKLittle Rock, AR Simmons First National Corp. SFNCPine Bluff, AR F.N.B. CorporationFNBPittsburgh, PA Cullen/Frost Bankers Inc.CFRSan Antonio, TX Fulton Financial CorporationFULTLancaster, PA Hancock Holding CompanyHWCGulfport, MS Commerce Bancshares, Inc.CBSHKansas City, MO South State CorporationSSBWinter Haven, FL First Midwest Bancorp Inc.FMBIChicago, IL PacWest BancorpPACWBeverly Hills, CA Prosperity Bancshares, Inc.PBHouston, TX Sterling BancorpSTLMontebello, NY Synovus Financial Corp.SNVColumbus, GA TCF Financial CorporationTCFDetroit, MI Atlantic Union BkshsCorp.AUBRichmond, VA UMB Financial CorporationUMBFKansas City, MO Umpqua Holdings CorporationUMPQPortland, OR Western Alliance BancorporationWALPhoenix, AZ Wintrust Financial CorporationWTFCRosemont, IL 61 Investor Call FOURTH QUARTER 2020 M. TERRY TURNER, PRESIDENT AND CEO HAROLD R. CARPENTER, EVP AND CFO TIM HUESTIS, EVP AND CHIEF CREDIT OFFICER

1 FOR IMMEDIATE RELEASE MEDIA CONTACT: Joe Bass, 615-743-8219 FINANCIAL CONTACT: Harold Carpenter, 615-744-3742 WEBSITE: www.pnfp.com PNFP REPORTS DILUTED EARNINGS PER SHARE OF $0.83 FOR 3Q 2017 Excluding merger-related charges, diluted EPS was $0.90 for 3Q 2017 NASHVILLE, TN, Oct. 17, 2017 - Pinnacle Financial Partners, Inc. (Nasdaq/NGS: PNFP) reported net income per diluted common share of $0.83 for the quarter ended Sept. 30, 2017, compared to net income per diluted common share of $0.71 for the quarter ended Sept. 30, 2016, an increase of 16.9 percent. Net income per diluted common share was $2.46 for the nine months ended Sept. 30, 2017, compared to net income per diluted common share of $2.12 for the nine months ended Sept. 30, 2016, an increase of 16.0 percent. Excluding pre-tax merger-related charges of $8.8 million and $12.7 million for the three and nine months ended Sept. 30, 2017, net income per diluted common share was $0.90 and $2.57, respectively, compared to $0.78 and $2.24 for the three and nine months ended Sept. 30, 2016, excluding pre-tax merger-related charges of $5.7 million and $8.5 million, respectively, or an increase of 15.4 percent and 14.7 percent, respectively. "I am very pleased not only with the earnings growth our firm experienced during the third quarter but, more importantly, the momentum for future earnings growth," said M. Terry Turner, Pinnacle's president and chief executive officer. "The third quarter includes the first full quarter of results from our recent merger with BNC Bancorp (BNC). I believe it was an excellent quarter for our firm in terms of earnings growth, balance sheet growth and operating leverage. "The execution of our integration with BNC remains on an accelerated path. We have now successfully completed the brand integration in the Carolinas and Virginia and are deep into our cultural integration process. The last major step toward realization of our deal synergies is the upcoming technology conversion. Given the fact that we have been performing the core processing for BNC since late August of this year, we expect the conversion to have no incremental impact on our clients in the Carolinas and Virginia and very little impact on our Tennessee client base. The progress we’ve made thus far has validated the power we believed was possible from combining our two firms." GROWING THE CORE EARNINGS CAPACITY OF THE FIRM: • Revenues for the quarter ended Sept. 30, 2017 were $216.2 million, an increase of $97.8 million, or 82.7 percent, from the quarter ended Sept. 30, 2016. • Loans at Sept. 30, 2017 were a record $15.26 billion, an increase of $501.0 million from June 30, 2017 and $7.02 billion from Sept. 30, 2016, reflecting year-over-year growth of 85.2 percent. • Deposits at Sept. 30, 2017 were a record $15.79 billion, an increase of $32.1 million from June 30, 2017 and $7.12 billion from Sept. 30, 2016, reflecting year-over-year growth of 82.1 percent. "Any significant merger integration like BNC requires a great deal of focus and energy," Turner said. "Despite that intense attention on the merger and integration, third quarter results also reflect significant focus on growing our client base as evidenced by our third quarter organic loan growth, which was exceptional. Concurrently, we also delivered strong earnings growth and enviable profitability metrics. We’ve also added 54 revenue producers to our ranks in 2017, with 19 of these in the Carolinas and Virginia. I remain excited that we are positioning our firm to be the employer of choice in all of our markets, which we believe will create still more opportunities to hire the best bankers in these markets over the next several quarters." 2 FOCUSING ON PROFITABILITY: • Revenue per fully-diluted share was a record $2.80 for the quarter ended Sept. 30, 2017, compared to $2.64 for the second quarter of 2017 and $2.58 for the third quarter of 2016. • Net interest margin was 3.87 percent for the third quarter of 2017, compared to 3.68 percent for the second quarter of 2017 and 3.60 percent for the same quarter last year. ◦ Excluding the accretion from the application of fair value accounting for net loans and deposits acquired in previous mergers, the net interest margin in each respective period would have approximated 3.42 percent for the third quarter of 2017, compared to 3.45 percent and 3.39 percent for the second quarter of 2017 and the third quarter of 2016, respectively. • Return on average assets was 1.21 percent for the third quarter of 2017, compared to 1.30 percent for the second quarter of 2017 and 1.18 percent for the same quarter last year. Third quarter 2017 return on average tangible assets amounted to 1.32 percent, compared to 1.38 percent for the second quarter of 2017 and 1.26 percent for the same quarter last year. ◦ Excluding merger-related charges in each respective period, return on average assets was 1.31 percent for the third quarter of 2017, compared to 1.35 percent for the second quarter of 2017 and 1.31 percent for the third quarter of 2016, respectively. Excluding merger-related charges in each respective period, return on average tangible assets was 1.43 percent for the third quarter of 2017, compared to 1.44 percent for the second quarter of 2017 and 1.39 percent for the third quarter of 2016, respectively. • Return on average equity for the third quarter of 2017 amounted to 6.99 percent, compared to 8.40 percent for the second quarter of 2017 and 8.93 percent for the same quarter last year. Third quarter 2017 return on average tangible equity amounted to 14.25 percent, compared to 13.58 percent for the second quarter of 2017 and 14.47 percent for the same quarter last year. ◦ Excluding merger-related charges in each respective period, return on average tangible equity amounted to 15.43 percent for the third quarter of 2017, compared to 14.19 percent for the second quarter of 2017 and 16.01 percent for the third quarter of 2016. "As we expected, the third quarter reflects outstanding profitability metrics," said Harold R. Carpenter, Pinnacle's chief financial officer. "Our core margin decreased by approximately three basis points between the second and third quarter primarily due to the completion of the restructuring of the legacy BNC balance sheet, where we invested in initiatives to build more asset sensitivity. During the third quarter of 2017, accretion from fair value adjustments contributed approximately $18.9 million to our net interest income, compared to $6.4 million during the second quarter of 2017. At Sept. 30, 2017, we had an estimated $182.4 million of remaining discount from loans we have acquired from our previous mergers." OTHER HIGHLIGHTS: • Revenues ◦ Net interest income for the quarter ended Sept. 30, 2017 was $173.2 million, compared to $106.6 million for the second quarter of 2017 and $86.6 million for the third quarter of 2016. Annualized linked-quarter revenue growth approximated 210.3 percent when comparing revenue for the quarter ended Sept. 30, 2017 to revenue for the quarter ended June 30, 2017. ◦ Noninterest income for the quarter ended Sept. 30, 2017 was $43.0 million, compared to $35.1 million for the second quarter of 2017 and $31.7 million for the third quarter of 2016. Annualized linked-quarter growth in noninterest income approximated 90.0 percent when comparing noninterest income as of Sept. 30, 2017 to noninterest income as of June 30, 2017. ▪ Net gains from the sale of residential mortgage loans were $6.0 million for the quarter ended Sept. 30, 2017, compared to $4.7 million for the second quarter of 2017 and $5.1 million for the quarter ended Sept. 30, 2016, resulting in a year-over-year growth rate of 17.0 percent. ▪ Wealth management revenues, which include investment, trust and insurance services, were $8.4 million for the quarter ended Sept. 30, 2017, compared to $6.2 million for the second quarter of 2017 and $5.3 million for the quarter ended Sept. 30, 2016, resulting in a year-over-year growth rate of 57.4 percent. 3 ▪ Income from the firm's investment in Bankers Healthcare Group, Inc. (BHG) was $8.9 million for the quarter ended Sept. 30, 2017, compared to $8.8 million for the quarter ended June 30, 2017 and $8.5 million for the third quarter last year. "The third quarter of 2017 was another strong revenue quarter for our firm," Carpenter said. "I’m particularly excited about the significant organic loan growth this year. Through the first nine months of this year, we are reporting approximately $1.21 billion of organic loan growth, which excludes the loan growth that BNC experienced prior to the completion of our merger. This balance sheet momentum will obviously help us grow our earnings in future periods. "Growing share in the commercial and industrial segment and growing our fee revenues in the Carolinas and Virginia has received intense focus and will continue over the next several quarters. We are particularly interested in increasing the number of commercial and industrial relationship managers as well as replicating our wealth management business is in our new markets and developing more opportunities for our residential mortgage origination business. Income from our equity method investment in BHG has resulted in a net contribution of $25.5 million thus far this year. We remain very optimistic about BHG and anticipate exceptional results in the fourth quarter of this year." • Noninterest expense ◦ Noninterest expense for the quarter ended Sept. 30, 2017 was $109.7 million, compared to $71.8 million in the second quarter of 2017 and $63.5 million in the third quarter last year, reflecting a year-over-year increase of 72.8 percent. ▪ Salaries and employee benefits were $64.3 million in the third quarter of 2017, compared to $43.7 million in the second quarter of 2017 and $36.1 million in the third quarter of last year, reflecting a year-over-year increase of 78.3 percent. ▪ The efficiency ratio for the third quarter of 2017 increased to 50.8 percent, compared to 50.7 percent for the second quarter of 2017. The ratio of noninterest expenses to average assets decreased to 2.05 percent for the third quarter of 2017 from 2.16 percent in the second quarter of 2017. – Excluding merger-related charges and other real estate owned (ORE) expense, the efficiency ratio was 46.4 percent for the third quarter of 2017, compared to 48.4 percent for the second quarter of 2017, and the ratio of noninterest expense to average assets was 1.88 percent for the third quarter of 2017, compared to 2.06 percent for the second quarter of 2017. "Going into the third quarter, we expected improved operating leverage from the BNC merger," Carpenter said. "Excluding merger-related charges and ORE expense, we are reporting an efficiency ratio of 46.4 percent, which we believe will continue to improve over the next several quarters once the integration of the BNC synergy case is fully deployed. Our technology conversion plan involves converting the legacy Pinnacle systems in November 2017. Thus, we believe our synergy case will be largely realized in early first quarter of 2018." • Asset quality ◦ Nonperforming assets increased to 0.51 percent of total loans and ORE at Sept. 30, 2017, compared to 0.44 percent at June 30, 2017 and 0.41 percent at Sept. 30, 2016. Nonperforming assets increased to $78.1 million at Sept. 30, 2017, compared to $65.4 million at June 30, 2017 and $34.1 million at Sept. 30, 2016. ◦ The allowance for loan losses represented 0.43 percent of total loans at Sept. 30, 2017, compared to 0.42 percent at June 30, 2017 and 0.73 percent at Sept. 30, 2016. ▪ The ratio of the allowance for loan losses to nonperforming loans was 122.0 percent at Sept. 30, 2017, compared to 154.0 percent at June 30, 2017 and 211.5 percent at Sept. 30, 2016. ▪ Net charge-offs were $3.7 million for the quarter ended Sept. 30, 2017, compared to $7.5 million for the quarter ended June 30, 2017 and $7.3 million for the quarter ended Sept. 30, 2016. Annualized net charge-offs as a percentage of average loans for the quarter ended Sept. 30, 2017 were 0.14 percent, compared to 0.17 percent for the second quarter of 2017 and 0.35 percent for the third quarter of 2016. ▪ Provision for loan losses was $6.9 million in the third quarter of 2017, compared to $6.8 million in the second quarter of 2017 and $6.1 million in the third quarter of 2016. 4 "Overall, asset quality for our firm remains exceptional," Carpenter said. "Our credit administrators throughout the firm have made significant progress toward the development of one credit culture across our franchise. The soundness of our firm is something all of our associates take great pride in. Thus far, the conclusions we reached during the BNC due diligence process regarding the high quality of the BNC portfolio are being reconfirmed every day." • Other Highlights ◦ The firm incurred pre-tax merger-related charges of $8.8 million during the third quarter of 2017, primarily attributable to the continued cultural and technology integration and associate retention awards. ◦ On Jan. 1, 2017, Pinnacle adopted FASB Accounting Standards Update (ASU) 2016-09, Stock Compensation Improvements to Employee Share-Based Payment Activity, which represented a change in accounting for the tax effects related to vesting of common shares and the exercise of stock options previously granted to the firm's employees through its various equity compensation plans. This change resulted in a reduction in third quarter 2017 tax expense of $59,000, compared to a reduction in tax expense of $789,000 and $3.8 million in the second and first quarters of 2017, respectively. BOARD OF DIRECTORS DECLARES DIVIDEND On Oct. 17, 2017, Pinnacle’s Board of Directors approved a quarterly cash dividend of $0.14 per common share to be paid on Nov. 24, 2017 to common shareholders of record as of the close of business on Nov. 3, 2017. The amount and timing of any future dividend payments to common shareholders will be subject to the discretion of Pinnacle’s Board of Directors. WEBCAST AND CONFERENCE CALL INFORMATION Pinnacle will host a webcast and conference call at 8:30 a.m. (CDT) on Oct. 18, 2017 to discuss third quarter 2017 results and other matters. To access the call for audio only, please call 1-877-602-7944. For the presentation and streaming audio, please access the webcast on the investor relations page of Pinnacle's website at www.pnfp.com. For those unable to participate in the webcast, it will be archived on the investor relations page of Pinnacle's website at www.pnfp.com for 90 days following the presentation. Pinnacle Financial Partners provides a full range of banking, investment, trust, mortgage and insurance products and services designed for businesses and their owners and individuals interested in a comprehensive relationship with their financial institution. The firm earned a place on Fortune's 2017 list of the 100 Best Companies to Work For in the U.S., and American Banker recognized Pinnacle as the sixth best bank to work for in the country in 2016. The firm began operations in a single location in downtown Nashville, TN in October 2000 and has since grown to approximately $21.8 billion in assets as of Sept. 30, 2017. As the second-largest bank holding company headquartered in Tennessee, Pinnacle operates in 11 primarily urban markets in Tennessee, the Carolinas and Virginia. Additional information concerning Pinnacle, which is included in the NASDAQ Financial-100 Index, can be accessed at www.pnfp.com. ### 5 Forward-Looking Statements All statements, other than statements of historical fact, included in this press release, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act and Section 21E of the Exchange Act. The words "expect," "anticipate," "intend," "plan," "believe," "seek," "estimate" and similar expressions are intended to identify such forward-looking statements, but other statements not based on historical information may also be considered forward-looking statements. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could cause the actual results to differ materially from the statements, including, but not limited to: (i) deterioration in the financial condition of borrowers resulting in significant increases in loan losses and provisions for those losses; (ii) continuation of the historically low short-term interest rate environment; (iii) the inability of Pinnacle Financial, or entities in which it has significant investments, like BHG, to maintain the historical growth rate of its, or such entities', loan portfolio; (iv) changes in loan underwriting, credit review or loss reserve policies associated with economic conditions, examination conclusions, or regulatory developments; (v) effectiveness of Pinnacle Financial's asset management activities in improving, resolving or liquidating lower-quality assets; (vi) increased competition with other financial institutions; (vii) greater than anticipated adverse conditions in the national or local economies including in Pinnacle Financial's markets throughout Tennessee, North Carolina, South Carolina and Virginia, particularly in commercial and residential real estate markets; (viii) rapid fluctuations or unanticipated changes in interest rates on loans or deposits; (ix) the results of regulatory examinations; (x) the ability to retain large, uninsured deposits; (xi) a merger or acquisition, like Pinnacle Financial's merger with BNC; (xii) risks of expansion into new geographic or product markets; (xiii) any matter that would cause Pinnacle Financial to conclude that there was impairment of any asset, including intangible assets; (xiv) reduced ability to attract additional financial advisors (or failure of such advisors to cause their clients to switch to Pinnacle Bank), to retain financial advisors or otherwise to attract customers from other financial institutions; (xv) further deterioration in the valuation of other real estate owned and increased expenses associated therewith; (xvi) inability to comply with regulatory capital requirements, including those resulting from changes to capital calculation methodologies and required capital maintenance levels; (xvii) risks associated with litigation, including the applicability of insurance coverage; (xviii) the risk of successful integration of the businesses Pinnacle Financial has recently acquired with its business; (xix) approval of the declaration of any dividend by Pinnacle Financial's board of directors; (xx) the vulnerability of Pinnacle Bank's network and online banking portals to unauthorized access, computer viruses, phishing schemes, spam attacks, human error, natural disasters, power loss and other security breaches; (xxi) the possibility of increased compliance costs as a result of increased regulatory oversight, including oversight of companies in which Pinnacle Financial or Pinnacle Bank have significant investments, like BHG, and the development of additional banking products for Pinnacle Bank's corporate and consumer clients; (xxii) the risks associated with Pinnacle Financial and Pinnacle Bank being a minority investor in BHG, including the risk that the owners of a majority of the equity interests in BHG decide to sell the company if not prohibited from doing so by the terms of our agreement with them; (xxii) changes in state and federal legislation, regulations or policies applicable to banks and other financial service providers, like BHG, including regulatory or legislative developments; (xxiv) the risk that the cost savings and any revenue synergies from Pinnacle Financial's merger with BNC may not be realized or take longer than anticipated to be realized; (xxv) disruption from Pinnacle Financial's merger with BNC with customers, suppliers, employee or other business partners relationships; (xxvi) the risk of successful integration of Pinnacle Financial's and BNC's businesses; (xxvii) the amount of the costs, fees, expenses and charges related to Pinnacle Financial's merger with BNC; (xxviii) reputational risk and the reaction of the parties' customers, suppliers, employees or other business partners to Pinnacle Financial's merger with BNC; (xxix) the risk that the integration of Pinnacle Financial's and BNC's operations will be materially delayed or will be more costly or difficult than expected; and (xxx) general competitive, economic, political and market conditions. Additional factors which could affect the forward looking statements can be found in Pinnacle Financial's Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K filed with the SEC and available on the SEC's website at http://www.sec.gov. Pinnacle Financial disclaims any obligation to update or revise any forward-looking statements contained in this press release, which speak only as of the date hereof, whether as a result of new information, future events or otherwise. 6 Non-GAAP Financial Matters This release contains certain non-GAAP financial measures, including, without limitation, earnings per diluted share, efficiency ratio, core net interest margin, noninterest expense and the ratio of noninterest expense to average assets and noninterest expense to the sum of net interest income and noninterest income, in each case excluding the impact of expenses related to other real estate owned, gains or losses on sale of investments and other matters for the accounting periods presented. This release also includes non-GAAP financial measures which exclude expenses associated with Pinnacle Bank's mergers with CapitalMark Bank & Trust, Magna Bank, Avenue Financial Holdings, Inc. and BNC, as well as Pinnacle Financial's and its bank subsidiary's investments in BHG. This release may also contain certain other non-GAAP capital ratios and performance measures. These non-GAAP financial measures exclude the impact of goodwill and core deposit intangibles associated with Pinnacle Financial's acquisitions of BNC, Avenue, Magna Bank, CapitalMark Bank & Trust, Mid-America Bancshares, Inc. Cavalry Bancorp, Inc. and other acquisitions which collectively are less material to the non-GAAP measure. The presentation of the non-GAAP financial information is not intended to be considered in isolation or as a substitute for any measure prepared in accordance with GAAP. Because non-GAAP financial measures presented in this release are not measurements determined in accordance with GAAP and are susceptible to varying calculations, these non-GAAP financial measures, as presented, may not be comparable to other similarly titled measures presented by other companies. Pinnacle Financial believes that these non-GAAP financial measures facilitate making period-to-period comparisons and are meaningful indications of its operating performance. In addition, because intangible assets such as goodwill and the core deposit intangible, and the other items excluded each vary extensively from company to company, Pinnacle Financial believes that the presentation of this information allows investors to more easily compare Pinnacle Financial's results to the results of other companies. Pinnacle Financial's management utilizes this non-GAAP financial information to compare Pinnacle Financial's operating performance for 2017 versus certain periods in 2016 and to internally prepared projections. 7 PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS – UNAUDITED September 30, 2017 December 31, 2016 September 30, 2016 ASSETS Cash and noninterest-bearing due from banks $ 132,324,313 $ 84,732,291 $ 81,750,005 Interest-bearing due from banks 270,563,317 97,529,713 165,262,687 Federal funds sold and other 5,394,587 1,383,416 9,964,345 Cash and cash equivalents 408,282,217 183,645,420 256,977,037 Securities available-for-sale, at fair value 2,880,180,805 1,298,546,056 1,223,751,538 Securities held-to-maturity (fair value of $21,021,555, $25,233,254 and $27,025,050 at Sept. 30, 2017, December 31, 2016 and Sept. 30, 2016, respectively) 20,847,849 25,251,316 26,605,251 Consumer loans held-for-sale 105,031,578 47,710,120 55,986,356 Commercial mortgage loans held-for-sale 20,385,491 22,587,971 15,531,588 Loans 15,259,785,972 8,449,924,736 8,241,020,478 Less allowance for loan losses (65,159,286 ) (58,980,475 ) (60,248,505 ) Loans, net 15,194,626,686 8,390,944,261 8,180,771,973 Premises and equipment, net 270,136,166 88,904,145 84,916,306 Equity method investment 211,501,901 205,359,844 199,429,034 Accrued interest receivable 54,286,991 28,234,826 25,945,676 Goodwill 1,802,534,059 551,593,796 550,579,616 Core deposits and other intangible assets 59,780,903 15,104,038 16,240,711 Other real estate owned 24,338,967 6,089,804 5,589,046 Other assets 738,437,468 330,651,002 336,065,529 Total assets $ 21,790,371,081 $ 11,194,622,599 $ 10,978,389,661 LIABILITIES AND STOCKHOLDERS' EQUITY Deposits: Noninterest-bearing $ 4,099,086,158 $ 2,399,191,152 $ 2,369,224,840 Interest-bearing 2,571,764,582 1,808,331,784 1,575,359,467 Savings and money market accounts 6,595,639,931 3,714,930,351 3,834,770,407 Time 2,523,094,175 836,853,761 890,791,297 Total deposits 15,789,584,846 8,759,307,048 8,670,146,011 Securities sold under agreements to repurchase 129,557,107 85,706,558 84,316,918 Federal Home Loan Bank advances 1,623,946,639 406,304,187 382,338,103 Subordinated debt and other borrowings 465,460,556 350,768,050 262,506,956 Accrued interest payable 10,715,285 5,573,377 3,009,165 Other liabilities 97,757,463 90,267,267 100,428,538 Total liabilities 18,117,021,896 9,697,926,487 9,502,745,691 Stockholders' equity: Preferred stock, no par value, 10,000,000 shares authorized; no shares issued and outstanding — — — Common stock, par value $1.00; 90,000,000 shares authorized; 77,652,143 shares, 46,359,377 shares and 46,159,832 shares issued and outstanding at Sept. 30, 2017, December 31, 2016 and Sept. 30, 2016, respectively 77,652,143 46,359,377 46,159,832 Additional paid-in capital 3,105,577,594 1,083,490,728 1,074,112,218 Retained earnings 503,270,311 381,072,505 351,484,480 Accumulated other comprehensive gain (loss), net of taxes (13,150,863 ) (14,226,498 ) 3,887,440 Total stockholders' equity 3,673,349,185 1,496,696,112 1,475,643,970 Total liabilities and stockholders' equity $ 21,790,371,081 $ 11,194,622,599 $ 10,978,389,661 This information is preliminary and based on company data available at the time of the presentation. 8 PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF INCOME – UNAUDITED Three months ended Nine months ended September 30, 2017 June 30, 2017 September 30, 2016 September 30, 2017 September 30, 2016 Interest income: Loans, including fees $ 183,841,608 $ 112,319,700 $ 90,090,166 $ 389,379,255 $ 241,537,476 Securities Taxable 12,066,502 8,265,225 5,012,047 26,764,815 14,050,757 Tax-exempt 4,620,340 2,235,517 1,544,535 8,533,438 4,481,309 Federal funds sold and other 1,638,704 922,796 732,951 3,375,817 2,046,244 Total interest income 202,167,154 123,743,238 97,379,699 428,053,325 262,115,786 Interest expense: Deposits 19,103,495 10,993,942 6,625,534 38,216,351 16,614,664 Securities sold under agreements to repurchase 148,442 78,438 51,270 276,646 138,852 Federal Home Loan Bank advances and other borrowings 9,733,510 6,043,144 4,067,951 20,984,034 9,781,363 Total interest expense 28,985,447 17,115,524 10,744,755 59,477,031 26,534,879 Net interest income 173,181,707 106,627,714 86,634,944 368,576,294 235,580,907 Provision for loan losses 6,920,184 6,812,389 6,108,183 17,383,595 15,281,854 Net interest income after provision for loan losses 166,261,523 99,815,325 80,526,761 351,192,699 220,299,053 Noninterest income: Service charges on deposit accounts 5,920,824 4,178,736 3,778,070 13,955,043 10,651,145 Investment services 3,660,103 3,110,088 2,592,077 9,592,025 7,437,396 Insurance sales commissions 2,123,549 1,461,160 1,233,098 5,443,599 4,131,784 Gains on mortgage loans sold, net 5,962,916 4,667,537 5,096,838 14,785,405 12,885,690 Investment gains on sales, net — — — — — Trust fees 2,636,212 1,677,079 1,522,763 6,018,570 4,595,330 Income from equity method investment 8,936,626 8,754,718 8,474,899 25,514,081 23,266,733 Other noninterest income 13,736,779 11,207,239 8,994,164 33,106,437 27,292,477 Total noninterest income 42,977,009 35,056,557 31,691,909 108,415,160 90,260,555 Noninterest expense: Salaries and employee benefits 64,287,986 43,675,551 36,053,673 146,315,721 102,824,676 Equipment and occupancy 16,590,119 10,712,711 9,401,001 36,977,488 25,843,737 Other real estate, net 512,490 62,960 17,032 827,423 351,777 Marketing and other business development 2,222,290 2,126,693 1,349,557 6,228,189 4,150,761 Postage and supplies 1,754,789 1,122,251 922,078 4,073,485 2,929,007 Amortization of intangibles 3,077,277 1,471,568 1,424,956 5,744,974 3,144,786 Merger-related expenses 8,847,306 3,221,060 5,672,731 12,740,382 8,482,385 Other noninterest expense 12,443,659 9,404,755 8,685,238 30,679,179 25,793,600 Total noninterest expense 109,735,916 71,797,549 63,526,266 243,586,841 173,520,729 Income before income taxes 99,502,616 63,074,333 48,692,404 216,021,018 137,038,879 Income tax expense 35,060,471 19,987,812 16,316,209 68,839,305 45,910,648 Net income $ 64,442,145 $ 43,086,521 $ 32,376,195 $ 147,181,713 $ 91,128,231 Per share information: Basic net income per common share $ 0.84 $ 0.81 $ 0.71 $ 2.48 $ 2.16 Diluted net income per common share $ 0.83 $ 0.80 $ 0.71 $ 2.46 $ 2.12 Weighted average shares outstanding: Basic 76,678,584 53,097,776 45,294,051 59,371,202 42,228,280 Diluted 77,232,098 53,665,925 45,918,368 59,910,344 42,928,467 This information is preliminary and based on company data available at the time of the presentation. 9 PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES SELECTED QUARTERLY FINANCIAL DATA – UNAUDITED (dollars in thousands) September June March December September June 2017 2017 2017 2016 2016 2016 Balance sheet data, at quarter end: Commercial real estate - mortgage loans $ 6,450,042 6,387,372 3,181,584 3,193,496 2,991,940 2,467,219 Consumer real estate - mortgage loans 2,541,180 2,552,927 1,196,375 1,185,917 1,185,966 1,068,620 Construction and land development loans 1,939,809 1,772,799 1,015,127 912,673 930,230 816,681 Commercial and industrial loans 3,971,227 3,688,357 2,980,840 2,891,710 2,873,643 2,492,016 Consumer and other 357,528 357,310 268,106 266,129 259,241 246,866 Total loans 15,259,786 14,758,765 8,642,032 8,449,925 8,241,020 7,091,402 Allowance for loan losses (65,159 ) (61,944 ) (58,350 ) (58,980 ) (60,249 ) (61,412 ) Securities 2,901,029 2,448,198 1,604,774 1,323,797 1,250,357 1,137,733 Total assets 21,790,371 20,886,154 11,724,601 11,194,623 10,978,390 9,735,668 Noninterest-bearing deposits 4,099,086 3,893,603 2,508,680 2,399,191 2,369,225 2,013,847 Total deposits 15,789,585 15,757,475 9,280,597 8,759,307 8,670,146 7,292,826 Securities sold under agreements to repurchase 129,557 205,008 71,157 85,707 84,317 73,317 FHLB advances 1,623,947 725,230 181,264 406,304 382,338 783,240 Subordinated debt and other borrowings 465,461 465,419 350,849 350,768 262,507 229,714 Total stockholders' equity 3,673,349 3,615,327 1,723,075 1,496,696 1,475,644 1,262,154 Balance sheet data, quarterly averages: Total loans $ 15,016,642 9,817,139 8,558,267 8,357,201 8,232,963 6,997,592 Securities 2,741,493 1,798,334 1,440,917 1,265,096 1,232,973 1,064,060 Total earning assets 18,140,036 11,885,118 10,261,974 9,884,701 9,794,094 8,362,657 Total assets 21,211,459 13,335,359 11,421,654 11,037,555 10,883,547 9,305,941 Noninterest-bearing deposits 3,953,855 2,746,499 2,434,875 2,445,157 2,304,533 2,003,523 Total deposits 15,828,480 10,394,267 9,099,472 8,791,206 8,454,424 7,093,349 Securities sold under agreements to repurchase 160,726 99,763 79,681 82,415 87,067 65,121 FHLB advances 1,059,032 399,083 212,951 307,039 583,724 653,750 Subordinated debt and other borrowings 473,805 375,249 355,082 319,790 266,934 225,240 Total stockholders' equity 3,655,029 2,057,505 1,657,072 1,493,684 1,442,440 1,247,762 Statement of operations data, for the three months ended: Interest income $ 202,167 123,743 102,143 101,493 97,380 83,762 Interest expense 28,985 17,116 13,376 12,080 10,745 8,718 Net interest income 173,182 106,627 88,767 89,413 86,635 75,044 Provision for loan losses 6,920 6,812 3,651 3,046 6,108 5,280 Net interest income after provision for loan losses 166,262 99,815 85,116 86,367 80,527 69,764 Noninterest income 42,977 35,057 30,382 30,743 31,692 32,713 Noninterest expense 109,736 71,798 62,054 62,765 63,526 55,931 Income before taxes 99,503 63,074 53,444 54,345 48,693 46,546 Income tax expense 35,061 19,988 13,791 18,248 16,316 15,759 Net income $ 64,442 43,086 39,653 36,097 32,377 30,787 Profitability and other ratios: Return on avg. assets (1) 1.21 % 1.30 % 1.41 % 1.30 % 1.18 % 1.33 % Return on avg. equity (1) 6.99 % 8.40 % 9.70 % 9.61 % 8.93 % 9.92 % Return on avg. tangible common equity (1) 14.25 % 13.58 % 14.74 % 15.49 % 14.47 % 15.34 % Dividend payout ratio (17) 17.34 % 18.01 % 18.67 % 19.31 % 19.93 % 20.90 % Net interest margin (1) (2) 3.87 % 3.68 % 3.60 % 3.72 % 3.60 % 3.72 % Noninterest income to total revenue (3) 19.88 % 24.74 % 25.50 % 25.59 % 26.78 % 30.36 % Noninterest income to avg. assets (1) 0.80 % 1.05 % 1.08 % 1.11 % 1.16 % 1.41 % Noninterest exp. to avg. assets (1) 2.05 % 2.16 % 2.20 % 2.26 % 2.32 % 2.42 % Noninterest expense (excluding ORE expenses, and merger-related charges) to avg. assets (1) 1.88 % 2.06 % 2.17 % 2.14 % 2.11 % 2.37 % Efficiency ratio (4) 50.77 % 50.67 % 52.08 % 52.24 % 53.69 % 51.90 % Avg. loans to avg. deposits 94.87 % 94.45 % 94.05 % 95.06 % 97.38 % 98.65 % Securities to total assets 13.31 % 11.72 % 13.69 % 11.82 % 11.39 % 11.69 % This information is preliminary and based on company data available at the time of the presentation. 10 PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES ANALYSIS OF INTEREST INCOME AND EXPENSE, RATES AND YIELDS-UNAUDITED (dollars in thousands) Three months ended Three months ended September 30, 2017 September 30, 2016 Average Balances Interest Rates/ Yields Average Balances Interest Rates/ Yields Interest-earning assets Loans (1) $ 15,016,642 $ 183,842 4.91 % $ 8,232,963 $ 90,090 4.43 % Securities Taxable 2,080,512 12,066 2.30 % 1,010,090 5,012 1.97 % Tax-exempt (2) 660,981 4,620 3.72 % 222,883 1,545 3.70 % Federal funds sold and other 379,769 1,639 1.71 % 328,158 733 0.89 % Total interest-earning assets 18,137,904 $ 202,167 4.50 % 9,794,094 $ 97,380 3.98 % Nonearning assets Intangible assets 1,860,282 590,348 Other nonearning assets 1,213,273 499,105 Total assets $ 21,211,459 $ 10,883,547 Interest-bearing liabilities Interest-bearing deposits: Interest checking $ 2,658,733 $ 3,368 0.50 % $ 1,437,196 $ 985 0.27 % Savings and money market 6,727,136 10,725 0.63 % 3,808,388 4,003 0.42 % Time 2,488,756 5,010 0.80 % 904,307 1,638 0.72 % Total interest-bearing deposits 11,874,625 19,103 0.64 % 6,149,891 6,626 0.43 % Securities sold under agreements to repurchase 160,726 148 0.37 % 87,067 51 0.23 % Federal Home Loan Bank advances 1,059,032 3,959 1.48 % 583,724 1,280 0.87 % Subordinated debt and other borrowings 473,805 5,775 4.84 % 266,934 2,788 4.15 % Total interest-bearing liabilities 13,568,188 28,985 0.85 % 7,087,616 10,745 0.60 % Noninterest-bearing deposits 3,953,855 — — 2,304,533 — — Total deposits and interest-bearing liabilities 17,522,043 $ 28,985 0.66 % 9,392,149 $ 10,745 0.46 % Other liabilities 34,387 48,958 Stockholders' equity 3,655,029 1,442,440 Total liabilities and stockholders' equity $ 21,211,459 $ 10,883,547 Net interest income $ 173,182 $ 86,635 Net interest spread (3) 3.65 % 3.38 % Net interest margin (4) 3.87 % 3.60 % (1) Average balances of nonperforming loans are included in the above amounts. (2) Yields computed on tax-exempt instruments on a tax equivalent basis. (3) Yields realized on interest-bearing assets less the rates paid on interest-bearing liabilities. The net interest spread calculation excludes the impact of demand deposits. Had the impact of demand deposits been included, the net interest spread for the quarter ended September 30, 2017 would have been 3.84% compared to a net interest spread of 3.53% for the quarter ended September 30, 2016. (4) Net interest margin is the result of annualized net interest income calculated on a tax equivalent basis divided by average interest- earning assets for the period. This information is preliminary and based on company data available at the time of the presentation. 11 PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES ANALYSIS OF INTEREST INCOME AND EXPENSE, RATES AND YIELDS-UNAUDITED (dollars in thousands) Nine months ended Nine months ended September 30, 2017 September 30, 2016 Average Balances Interest Rates/ Yields Average Balances Interest Rates/ Yields Interest-earning assets Loans (1) $ 11,154,340 $ 389,379 4.73 % $ 7,327,519 $ 241,538 4.48 % Securities Taxable 1,593,590 26,765 2.25 % 901,059 14,051 2.08 % Tax-exempt (2) 404,756 8,533 3.78 % 196,340 4,481 4.09 % Federal funds sold and other 300,552 3,376 1.50 % 303,996 2,046 0.90 % Total interest-earning assets 13,453,238 $ 428,053 4.34 % 8,728,914 $ 262,116 4.04 % Nonearning assets Intangible assets 1,075,109 490,804 Other nonearning assets 830,337 465,156 Total assets $ 15,358,684 $ 9,684,874 Interest-bearing liabilities Interest-bearing deposits: Interest checking $ 2,206,934 $ 7,774 0.47 % $ 1,398,494 $ 2,820 0.27 % Savings and money market 5,043,033 21,175 0.56 % 3,299,102 9,974 0.40 % Time 1,498,114 9,267 0.83 % 743,882 3,820 0.69 % Total interest-bearing deposits 8,748,081 38,216 0.58 % 5,441,478 16,614 0.41 % Securities sold under agreements to repurchase 113,687 277 0.33 % 73,821 139 0.25 % Federal Home Loan Bank advances 560,121 6,347 1.52 % 540,360 3,073 0.76 % Subordinated debt and other borrowings 401,814 14,637 4.87 % 218,424 6,709 4.10 % Total interest-bearing liabilities 9,823,703 59,477 0.81 % 6,274,083 26,535 0.56 % Noninterest-bearing deposits 3,050,640 — — 2,090,165 — — Total deposits and interest-bearing liabilities 12,874,343 $ 59,477 0.62 % 8,364,248 $ 26,535 0.42 % Other liabilities 20,486 27,295 Stockholders' equity 2,463,855 1,293,331 Total liabilities and stockholders' equity $ 15,358,684 $ 9,684,874 Net interest income $ 368,576 $ 235,581 Net interest spread (3) 3.53 % 3.48 % Net interest margin (4) 3.75 % 3.69 % (1) Average balances of nonperforming loans are included in the above amounts. (2) Yields computed on tax-exempt instruments on a tax equivalent basis. (3) Yields realized on interest-bearing assets less the rates paid on interest-bearing liabilities. The net interest spread calculation excludes the impact of demand deposits. Had the impact of demand deposits been included, the net interest spread for the nine months ended September 30, 2017 would have been 3.72% compared to a net interest spread of 3.62% for the nine months ended September 30, 2016. (4) Net interest margin is the result of annualized net interest income calculated on a tax equivalent basis divided by average interest- earning assets for the period. This information is preliminary and based on company data available at the time of the presentation. 12 PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES SELECTED QUARTERLY FINANCIAL DATA – UNAUDITED (dollars in thousands) September June March December September June 2017 2017 2017 2016 2016 2016 Asset quality information and ratios: Nonperforming assets: Nonaccrual loans $ 53,414 40,217 25,051 27,577 28,487 33,785 Other real estate (ORE) and other nonperforming assets (NPAs) 24,682 25,153 6,235 6,090 5,656 5,183 Total nonperforming assets $ 78,096 65,370 31,286 33,667 34,143 38,968 Past due loans over 90 days and still accruing interest $ 3,263 1,691 1,110 1,134 2,093 1,623 Troubled debt restructurings (5) $ 15,157 14,248 14,591 15,009 8,503 9,861 Net loan charge-offs $ 3,705 7,499 4,282 4,314 7,271 6,108 Allowance for loan losses to nonaccrual loans 122.0 % 154.0 % 232.9 % 213.9 % 211.5 % 181.8 % As a percentage of total loans: Past due accruing loans over 30 days 0.24 % 0.20 % 0.17 % 0.26 % 0.24 % 0.33 % Potential problem loans (6) 0.97 % 1.26 % 1.27 % 1.36 % 1.13 % 1.38 % Allowance for loan losses 0.43 % 0.42 % 0.68 % 0.70 % 0.73 % 0.87 % Nonperforming assets to total loans, ORE and other NPAs 0.51 % 0.44 % 0.36 % 0.40 % 0.41 % 0.55 % Nonperforming assets to total assets 0.36 % 0.31 % 0.27 % 0.30 % 0.31 % 0.40 % Classified asset ratio (Pinnacle Bank) (8) 12.7 % 14.2 % 12.9 % 16.4 % 15.2 % 19.3 % Annualized net loan charge-offs to avg. loans (7) 0.14 % 0.17 % 0.20 % 0.21 % 0.35 % 0.35 % Wtd. avg. commercial loan internal risk ratings (6) 4.5 4.5 4.5 4.5 4.6 4.5 Interest rates and yields: Loans 4.91 % 4.66 % 4.49 % 4.60 % 4.43 % 4.53 % Securities 2.64 % 2.51 % 2.44 % 2.26 % 2.29 % 2.46 % Total earning assets 4.50 % 4.21 % 4.06 % 4.11 % 3.98 % 4.06 % Total deposits, including non-interest bearing 0.48 % 0.42 % 0.36 % 0.33 % 0.31 % 0.29 % Securities sold under agreements to repurchase 0.37 % 0.32 % 0.25 % 0.22 % 0.23 % 0.24 % FHLB advances 1.48 % 1.49 % 1.72 % 1.38 % 0.87 % 0.77 % Subordinated debt and other borrowings 4.84 % 4.87 % 4.92 % 4.56 % 4.15 % 4.19 % Total deposits and interest-bearing liabilities 0.66 % 0.61 % 0.56 % 0.51 % 0.46 % 0.44 % Pinnacle Financial Partners capital ratios (8) : Stockholders' equity to total assets 16.9 % 17.3 % 14.7 % 13.4 % 13.4 % 13.0 % Common equity Tier one 9.4 % 9.5 % 9.8 % 7.9 % 7.6 % 7.9 % Tier one risk-based 9.4 % 9.5 % 10.6 % 8.6 % 8.4 % 8.8 % Total risk-based 12.3 % 12.6 % 13.7 % 11.9 % 10.5 % 11.0 % Leverage 8.9 % 14.5 % 10.3 % 8.6 % 8.3 % 8.7 % Tangible common equity to tangible assets 9.1 % 9.2 % 10.4 % 8.8 % 8.7 % 8.9 % Pinnacle Bank ratios: Common equity Tier one 10.7 % 11.0 % 11.1 % 9.3 % 8.6 % 8.4 % Tier one risk-based 10.7 % 11.0 % 11.1 % 9.3 % 8.6 % 8.4 % Total risk-based 11.8 % 12.1 % 12.9 % 11.2 % 10.5 % 10.6 % Leverage 10.1 % 16.7 % 10.9 % 9.2 % 8.6 % 8.3 % Construction and land development loans as a percent of total capital (20) 88.1 % 85.1 % 75.2 % 80.3 % 87.9 % 89.7 % Non-owner occupied commercial real estate and multi-family as a percent of total capital (20) 289.1 % 286.4 % 220.9 % 256.0 % 265.5 % 253.9 % Per share data: Earnings – basic $ 0.84 0.81 0.83 0.79 0.71 0.75 Earnings – diluted $ 0.83 0.80 0.82 0.78 0.71 0.73 Common dividends per share $ 0.14 0.14 0.14 0.14 0.14 0.14 Book value per common share at quarter end (9) $ 47.31 46.56 34.61 32.28 31.97 29.92 Tangible book value per common share at quarter end (9) $ 23.32 22.58 23.25 20.06 19.69 19.58 Investor information: Closing sales price on last trading day of quarter $ 66.95 62.80 66.45 69.30 54.08 48.85 High closing sales price during quarter $ 66.95 69.10 71.05 71.15 57.26 51.73 Low closing sales price during quarter $ 58.50 60.00 66.45 49.70 47.44 45.15 This information is preliminary and based on company data available at the time of the presentation. 13 PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES SELECTED QUARTERLY FINANCIAL DATA – UNAUDITED (dollars in thousands, except per share data) September June March December September June 2017 2017 2017 2016 2016 2016 Other information: Gains on mortgage loans sold: Mortgage loan sales: Gross loans sold $ 299,763 261,981 160,740 221,126 214,394 198,239 Gross fees (10) $ 9,050 7,361 4,427 6,535 6,702 5,530 Gross fees as a percentage of loans originated 3.02 % 3.00 % 2.75 % 2.96 % 3.13 % 2.79 % Net gain on mortgage loans sold $ 5,963 4,668 4,155 2,869 5,097 4,221 Investment gains on sales of securities, net (16) $ — — — 395 — — Brokerage account assets, at quarter end (11) $ 2,979,936 2,815,501 2,280,355 2,198,334 2,090,316 1,964,769 Trust account managed assets, at quarter end $ 1,880,488 1,804,811 1,011,964 1,002,742 978,356 953,592 Core deposits (12) $ 13,609,194 13,529,398 8,288,247 7,834,973 7,714,552 6,591,063 Core deposits to total funding (12) 75.6 % 78.9 % 83.4 % 81.6 % 82.1 % 78.7 % Risk-weighted assets $ 18,164,765 17,285,264 10,489,944 10,210,711 10,020,690 8,609,968 Total assets per full-time equivalent employee $ 9,930 9,398 9,630 9,491 9,323 9,176 Annualized revenues per full-time equivalent employee $ 390.8 255.7 396.9 405.3 399.8 408.5 Annualized expenses per full-time equivalent employee $ 198.4 129.6 206.7 211.7 214.6 212.0 Number of employees (full-time equivalent) 2,194.5 2,222.5 1,217.5 1,179.5 1,177.5 1,061.0 Associate retention rate (13) 98.3 % 87.1 % 92.9 % 92.7 % 93.9 % 95.2 % Selected economic information (in thousands) (14) : Charleston MSA nonfarm employment - August 1,178.6 1,179.4 1,170.6 1,167.7 1,160.9 1,148.1 Nashville MSA nonfarm employment - August 982.5 975.1 977.1 968.5 957.8 947.7 Memphis MSA nonfarm employment - August 647.2 648.1 646.4 644.7 641.3 637.2 Raleigh MSA nonfarm employment - August 626.1 617.9 612.0 609.3 606.6 601.0 Knoxville MSA nonfarm employment - August 394.6 391.3 393.8 395.5 394.1 393.1 Greensboro MSA nonfarm employment - August 364.2 362.9 362.5 360.8 358.4 357.8 Charlotte MSA nonfarm employment - August 354.3 352.5 354.2 350.9 349.4 346.0 Winston-Salem MSA nonfarm employment - August 263.0 260.8 263.2 261.6 262.1 261.3 Chattanooga MSA nonfarm employment - August 259.2 260.7 256.3 254.6 252.2 252.0 Roanoke MSA nonfarm employment - August 165.0 164.7 164.1 162.4 162.4 162.3 Greenville MSA nonfarm employment - August 79.1 78.6 78.9 79.1 79.5 79.2 Charleston MSA unemployment - August 3.9 % 3.9 % 4.5 % 4.7 % 4.8 % 4.6 % Nashville MSA unemployment - August 2.7 % 2.8 % 3.7 % 4.1 % 4.1 % 3.7 % Memphis MSA unemployment - August 4.2 % 4.3 % 5.0 % 5.5 % 5.6 % 5.2 % Raleigh MSA unemployment - August 3.6 % 3.6 % 4.2 % 4.4 % 4.4 % 4.2 % Knoxville MSA unemployment - August 3.3 % 3.5 % 4.5 % 4.9 % 4.9 % 4.4 % Greensboro MSA unemployment - August 4.4 % 4.3 % 5.0 % 5.2 % 5.3 % 5.0 % Charlotte MSA unemployment - August 3.4 % 3.2 % 3.7 % 3.7 % 3.9 % 4.1 % Winston-Salem MSA unemployment - August 4.0 % 4.0 % 4.6 % 4.9 % 4.9 % 4.6 % Chattanooga MSA unemployment - August 3.8 % 3.9 % 4.6 % 5.2 % 5.3 % 4.7 % Roanoke MSA unemployment - August 3.8 % 3.8 % 3.6 % 4.0 % 4.2 % 3.8 % Greenville MSA unemployment - August 4.5 % 4.5 % 5.3 % 5.6 % 5.5 % 5.2 % Charleston, SC residential median home price - August $ 369 360 365 349 350 348 Nashville, TN residential median home price - August $ 329 339 325 304 299 299 Memphis, TN residential median home price - August $ 90 88 77 78 82 80 Raleigh, NC residential median home price - August $ 309 299 299 280 275 265 Knoxville, TN residential median home price - August $ 195 197 185 175 174 167 Greensboro, NC residential median home price - August $ 179 184 173 163 157 169 Charlotte, SC residential median home price - August $ 270 284 265 254 247 257 Winston-Salem, NC residential median home price - August $ 159 164 159 149 148 149 Chattanooga, TN residential median home price - August $ 209 225 199 194 184 185 Roanoke, VA residential median home price - August $ 175 171 164 150 160 159 Greenville, NC residential median home price - August $ 265 264 275 261 249 244 This information is preliminary and based on company data available at the time of the presentation. 14 PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES RECONCILIATION OF NON-GAAP SELECTED QUARTERLY FINANCIAL DATA – UNAUDITED (dollars in thousands, except per share data) September June March December September June 2017 2017 2017 2016 2016 2016 Net interest income $ 173,182 106,627 88,767 89,413 86,635 75,044 Noninterest income 42,977 35,057 30,382 30,743 31,692 32,713 Less: Investment (gains) and losses on sales, net — — — (395 ) — — Noninterest income excluding investment (gains) and losses on sales of securities, net 42,977 35,057 30,382 30,348 31,692 32,713 Total revenues excluding the impact of investment (gains) and losses on sales of securities, net 216,159 141,684 119,149 119,761 118,327 107,757 Noninterest expense 109,736 71,798 62,054 62,765 63,526 55,931 Less: Other real estate expense 512 63 252 44 17 222 Merger-related charges 8,847 3,221 672 3,264 5,672 980 Noninterest expense excluding the impact of other real estate expense and merger-related charges 100,377 68,514 61,130 59,457 57,837 54,729 Adjusted pre-tax pre-provision income (15) $ 115,782 73,170 58,019 60,304 60,490 53,028 Efficiency ratio (4) 50.77 % 50.67 % 52.08 % 52.24 % 53.69 % 51.90 % Adjustment due to investment gains and losses, ORE expense and merger-related charges (4.33 %) (2.30 %) (0.77 %) (2.59 %) (4.81 %) (1.12 %) Efficiency ratio (excluding investment gains and losses, ORE expense, and merger-related charges) 46.44 % 48.37 % 51.31 % 49.65 % 48.88 % 50.79 % Total average assets $ 21,211,459 13,335,359 11,421,654 11,037,555 10,883,547 9,305,941 Noninterest expense to avg. assets 2.05 % 2.16 % 2.20 % 2.26 % 2.32 % 2.42 % Adjustment due to ORE expenses and merger-related charges (0.17 %) (0.10 %) (0.03 %) (0.12 %) (0.21 %) (0.05 %) Noninterest expense (excluding ORE expense, and merger-related charges) to avg. assets (1) 1.88 % 2.06 % 2.17 % 2.14 % 2.11 % 2.37 % Equity Method Investment (18) Fee income from BHG, net of amortization $ 8,937 8,755 7,823 8,136 8,475 9,644 Funding cost to support investment 1,951 1,844 1,775 1,797 1,760 1,732 Pre-tax impact of BHG 6,986 6,911 6,048 6,339 6,715 7,912 Income tax expense at statutory rates 2,741 2,711 2,373 2,487 2,634 3,104 Earnings attributable to BHG $ 4,245 4,200 3,675 3,852 4,081 4,808 Basic earnings per share attributable to BHG $ 0.06 0.08 0.08 0.08 0.09 0.12 Diluted earnings per share attributable to BHG $ 0.06 0.08 0.08 0.08 0.09 0.11 Net income $ 64,442 43,086 39,653 36,097 32,377 30,787 Merger-related charges 8,847 3,221 672 3,264 5,672 980 Tax effect on merger-related charges (19) (3,471 ) (1,264 ) (264 ) (1,281 ) (2,225 ) (385 ) Net income less merger-related charges $ 69,818 45,043 40,061 38,080 35,824 31,382 Basic earnings per share $ 0.84 0.81 0.83 0.79 0.71 0.75 Adjustment to basic earnings per share due to merger-related charges 0.07 0.04 0.01 0.05 0.08 0.01 Basic earnings per share excluding merger-related charges $ 0.91 0.85 0.84 0.84 0.79 0.76 Diluted earnings per share $ 0.83 0.80 0.82 0.78 0.71 0.73 Adjustment to diluted earnings per share due to merger-related charges 0.07 0.04 0.01 0.05 0.07 0.02 Diluted earnings per share excluding merger-related charges $ 0.90 0.84 0.83 0.83 0.78 0.75 This information is preliminary and based on company data available at the time of the presentation. 15 PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES RECONCILIATION OF NON-GAAP SELECTED QUARTERLY FINANCIAL DATA – UNAUDITED (dollars in thousands, except per share data) September June March December September June 2017 2017 2017 2016 2016 2016 Return on average assets 1.21 % 1.30 % 1.41 % 1.30 % 1.18 % 1.33 % Adjustment due to merger-related charges 0.10 % 0.05 % 0.01 % 0.07 % 0.13 % 0.03 % Return on average assets (excluding merger-related charges) 1.31 % 1.35 % 1.42 % 1.37 % 1.31 % 1.36 % Tangible assets: Total assets $ 21,790,371 20,886,154 11,724,601 11,194,623 10,978,390 9,735,668 Less: Goodwill (1,802,534 ) (1,800,742 ) (551,546 ) (551,594 ) (550,580 ) (427,574 ) Core deposit and other intangible assets (59,781 ) (60,964 ) (13,908 ) (15,104 ) (16,241 ) (8,821 ) Net tangible assets $ 19,928,056 19,024,448 11,159,147 10,627,925 10,411,569 9,299,273 Tangible equity: Total stockholders' equity $ 3,673,349 3,615,327 1,723,075 1,496,696 1,475,644 1,262,154 Less: Goodwill (1,802,534 ) (1,800,742 ) (551,546 ) (551,594 ) (550,580 ) (427,574 ) Core deposit and other intangible assets (59,781 ) (60,964 ) (13,908 ) (15,104 ) (16,241 ) (8,821 ) Net tangible common equity $ 1,811,034 1,753,621 1,157,621 929,998 908,823 825,759 Ratio of tangible common equity to tangible assets 9.09 % 9.22 % 10.37 % 8.75 % 8.73 % 8.88 % Average tangible assets: Average assets $ 21,211,459 13,335,359 11,421,654 11,037,555 10,883,547 9,305,941 Less: Average goodwill (1,800,761 ) (760,646 ) (551,548 ) (551,042 ) (541,153 ) (431,155 ) Core deposit and other intangible assets (59,521 ) (23,957 ) (14,674 ) (15,724 ) (11,296 ) (9,367 ) Net average tangible assets $ 19,351,177 12,550,756 10,855,432 10,470,789 10,331,098 8,865,419 Return on average assets 1.21 % 1.30 % 1.41 % 1.30 % 1.18 % 1.33 % Adjustment due to goodwill, core deposit and other intangible assets 0.11 % 0.08 % 0.06 % 0.08 % 0.08 % 0.06 % Return on average tangible assets 1.32 % 1.38 % 1.47 % 1.38 % 1.26 % 1.39 % Adjustment due to merger-related charges 0.11 % 0.06 % 0.01 % 0.08 % 0.13 % 0.03 % Return on average tangible assets (excluding merger-related charges) 1.43 % 1.44 % 1.48 % 1.46 % 1.39 % 1.42 % Average tangible equity: Average stockholders' equity $ 3,655,029 2,057,505 1,657,072 1,493,684 1,442,440 1,247,762 Less: Average goodwill (1,800,761 ) (760,646 ) (551,548 ) (551,042 ) (541,153 ) (431,155 ) Core deposit and other intangible assets (59,521 ) (23,957 ) (14,674 ) (15,724 ) (11,296 ) (9,367 ) Net average tangible common equity $ 1,794,747 1,272,902 1,090,850 926,918 889,991 807,240 Return on average common equity 6.99 % 8.40 % 9.70 % 9.61 % 8.93 % 9.92 % Adjustment due to goodwill, core deposit and other intangible assets 7.26 % 5.18 % 5.04 % 5.88 % 5.54 % 5.42 % Return on average tangible common equity (1) 14.25 % 13.58 % 14.74 % 15.49 % 14.47 % 15.34 % Adjustment due to merger-related charges 1.18 % 0.61 % 0.15 % 0.85 % 1.54 % 0.30 % Return on average tangible common equity (excluding merger-related charges) 15.43 % 14.19 % 14.89 % 16.34 % 16.01 % 15.64 % Total average assets $ 21,211,459 13,335,359 11,421,654 11,037,555 10,883,547 9,305,941 Net interest margin 3.87 % 3.68 % 3.60 % 3.72 % 3.60 % 3.72 % Adjustment due to accretion from fair value accounting (0.45 %) (0.23 %) (0.21 %) (0.32 %) (0.21 %) (0.22 %) Core net interest margin 3.42 % 3.45 % 3.39 % 3.40 % 3.39 % 3.50 % This information is preliminary and based on company data available at the time of the presentation. 16 PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES SELECTED QUARTERLY FINANCIAL DATA – UNAUDITED 1. Ratios are presented on an annualized basis. 2. Net interest margin is the result of net interest income on a tax equivalent basis divided by average interest earning assets. 3. Total revenue is equal to the sum of net interest income and noninterest income. 4. Efficiency ratios are calculated by dividing noninterest expense by the sum of net interest income and noninterest income. 5. Troubled debt prepayments include loans where the company, as a result of the borrower's financial difficulties, has granted a credit concession to the borrower (i.e., interest only payments for a significant period of time, extending the maturity of the loan, etc.). All of these loans continue to accrue interest at the contractual rate. 6. Average risk ratings are based on an internal loan review system which assigns a numeric value of 1 to 10 to all loans to commercial entities based on their underlying risk characteristics as of the end of each quarter. A "1" risk rating is assigned to credits that exhibit Excellent risk characteristics, "2" exhibit Very Good risk characteristics, "3" Good, "4" Satisfactory, "5" Acceptable or Average, "6" Watch List, "7" Criticized, "8" Classified or Substandard, "9" Doubtful and "10" Loss (which are charged-off immediately). Additionally, loans rated "8" or worse that are not nonperforming or restructured loans are considered potential problem loans. Generally, consumer loans are not subjected to internal risk ratings. Data presented represents legacy Pinnacle portfolio at period end date. 7. Annualized net loan charge-offs to average loans ratios are computed by annualizing quarter-to-date net loan charge-offs and dividing the result by average loans for the quarter-to-date period. 8. Capital ratios are calculated using regulatory reporting regulations enacted for such period and are defined as follows: Equity to total assets – End of period total stockholders' equity as a percentage of end of period assets. Tangible common equity to total assets - End of period total stockholders' equity less end of period goodwill, core deposit and other intangibles as a percentage of end of period assets. Leverage – Tier one capital (pursuant to risk-based capital guidelines) as a percentage of adjusted average assets. Tier one risk-based – Tier one capital (pursuant to risk-based capital guidelines) as a percentage of total risk-weighted assets. Total risk-based – Total capital (pursuant to risk-based capital guidelines) as a percentage of total risk-weighted assets. Classified asset - Classified assets as a percentage of Tier 1 capital plus allowance for loan losses. Tier one common equity to risk weighted assets - Tier 1 capital (pursuant to risk-based capital guidelines) less the amount of any preferred stock or subordinated indebtedness that is considered as a component of Tier 1 capital as a percentage of total risk-weighted assets. 9. Book value per share computed by dividing total stockholders' equity by common shares outstanding. 10. Amounts are included in the statement of operations in "Gains on mortgage loans sold, net", net of commissions paid on such amounts. 11. At fair value, based on information obtained from Pinnacle's third party broker/dealer for non-FDIC insured financial products and services. 12. Core deposits include all transaction deposit accounts, money market and savings accounts and all certificates of deposit issued in a denomination of less than $250,000. The ratio noted above represents total core deposits divided by total funding, which includes total deposits, FHLB advances, securities sold under agreements to repurchase, subordinated indebtedness and all other interest-bearing liabilities. 13. Associate retention rate is computed by dividing the number of associates employed at quarter end less the number of associates that have resigned in the last 12 months by the number of associates employed at quarter end. Associate retention rate does not include associates at acquired institutions displaced by merger. 14. Employment and unemployment data is from the Federal Reserve Bank of St. Louis' FRED Economic Data reporting. All data has been seasonally adjusted. The most recent quarter data presented is as of the most recent month that data is available as of the release date. Historical data is subject to update by the Federal Reserve Bank of St. Louis. Historical data is presented based on the most recently reported data available by the Federal Reserve Bank of St. Louis. Area home data is from www.zillow.com and represents median list price for single family homes. 15. Adjusted pre-tax, pre-provision income excludes the impact of investment gains and losses on sales and impairments of securities, net, as well as other real estate owned expenses and merger-related charges. 16. Represents investment gains (losses) on sales and impairments, net occurring as a result of both credit losses and losses incurred as the result of a change in management's intention to sell a bond prior to the recovery of its amortized cost basis. 17. The dividend payout ratio is calculated as the sum of the annualized dividend rate divided by the trailing 12-months fully diluted earnings per share as of the dividend declaration date. 18. Earnings from equity method investment includes the impact of the issuance of subordinated debt as well as the funding costs of the overall franchise. Income tax expense is calculated using statutory tax rates. 19. Tax effect calculated using the blended statutory rate of 39.23% for all periods presented. 20. Calculated using the same guidelines as are used in the Federal Financial Institutions Examination Council's Uniform Bank Performance Report.

Investor Call SECOND QUARTER 2022 M. TERRY TURNER, PRESIDENT AND CEO HAROLD R. CARPENTER, EVP AND CFO July 20, 2022 Time: 8:30 AM CT Webcast: www.pnfp.com(investor relations) Safe Harbor Statements Forward Looking Statements All statements, other than statements of historical fact, included in this presentation, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The words "expect," "anticipate," "intend," "may," "should," "plan," "believe," "seek," "estimate" and similar expressions are intended to identify such forward- looking statements, but other statements not based on historical information may also be considered forward-looking statements. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could cause the actual results to differ materially from the statements, including, but not limited to:(i) deterioration in the financial condition of borrowers of Pinnacle Bank and its subsidiaries or BHG, including as a result of the negative impact of inflationary pressures on our and BHG's customers and their businesses resulting in significant increases in loan losses and provisions for those losses and, in the case of BHG, substitutions; (ii) fluctuations or differences in interest rates on loans or deposits from those that Pinnacle Financial is modeling or anticipating, including as a result of Pinnacle Bank's inability to better match deposit rates with the changes in the short-term rate environment, or that affect the yield curve; (iii) adverse conditions in the national or local economies including in Pinnacle Financial'smarkets throughout Tennessee, North Carolina, South Carolina, Georgia, Alabama and Virginia,particularly in commercial and residential real estate markets; (iv) the inability of Pinnacle Financial, or entities in which it has significant investments, like BHG, to maintain the long-term historical growth rate of its, or such entities', loan portfolio; (v) the ability to grow and retain low-cost core deposits and retain large, uninsured deposits, including during times when Pinnacle Bank is seeking to limit the rates it pays on deposits; (vi) changes in loan underwriting, credit review or loss reserve policies associated with economic conditions, examination conclusions, or regulatory developments; (vii) effectiveness of Pinnacle Financial'sasset management activities in improving, resolving or liquidating lower-quality assets; (viii) the impact of competition with other financial institutions, including pricing pressures and the resulting impact on Pinnacle Financial’sresults, including as a result of compression to net interest margin; (ix) the effects of new outbreaks of COVID-19, including actions taken by governmental officials to curb the spread of the virus, and the resulting impact on general economic and financial market conditions and on Pinnacle Financial'sand its customers' business, results of operations, asset quality and financial condition; (x) further public acceptance of thebooster shots of the vaccines that were developed against the virus as well as the decisions of governmental agencies with respect to vaccines including recommendationsrelated to booster shots and requirements that seek to mandate that individuals receive or employers require that their employees receive the vaccine; (xi) those vaccines' efficacy against the virus, including new variants; (xii) the results of regulatory examinations; (xiii) Pinnacle Financial'sability to identify potential candidates for, consummate, and achieve synergies from, potential future acquisitions; (xiv) difficulties and delays in integrating acquired businesses or fully realizing costs savings and other benefits from acquisitions; (xv) BHG's ability to profitably grow its business and successfully execute on its business plans; (xvi) risks of expansion into new geographic or product markets; (xvii) any matter that would cause Pinnacle Financial to conclude that there was impairment of any asset, including goodwill or other intangible assets; (xviii) the ineffectiveness of Pinnacle Bank's hedging strategies, or the unexpected counterparty failure or hedge failure of the underlying hedges; (xix) reduced ability to attract additional financial advisors (or failure of such advisors to cause their clients to switch to Pinnacle Bank), to retain financial advisors (including as a result of the competitive environment for associates) or otherwise to attract customers from other financial institutions; (xx) deterioration in the valuation of other real estate ownedand increased expenses associated therewith; (xxi) inability to comply with regulatory capital requirements, including those resulting from changes to capital calculation methodologies, required capital maintenance levels or regulatory requests or directives, particularly if Pinnacle Bank's level of applicable commercial real estate loans were to exceed percentage levels of total capital in guidelines recommended by its regulators; (xxii) approvalof the declaration of any dividend by Pinnacle Financial'sboard of directors; (xxiii) the vulnerability of Pinnacle Bank's network and online banking portals, and the systems of parties with whom Pinnacle Bank contracts, to unauthorized access, computer viruses, phishing schemes, spam attacks, human error, natural disasters, power loss and other security breaches; (xxiv) the possibility of increased compliance and operational costs as a result of increased regulatory oversight (including by the Consumer Financial Protection Bureau), including oversight of companies in which Pinnacle Financial or Pinnacle Bank have significant investments, like BHG, and the development of additional banking products for Pinnacle Bank's corporate and consumer clients; (xxv) the risks associated with Pinnacle Financial and Pinnacle Bank being a minority investor in BHG, including the risk that the owners of a majority of the equity interests in BHG decide to sell the company or all or a portion of their ownership interests in BHG (triggering a similar sale by Pinnacle Financial and Pinnacle Bank) if not prohibited from doing so by PinnacleFinancial or Pinnacle Bank; (xxvi) changes in state and federal legislation, regulations or policies applicable to banks and other financial service providers, like BHG, including regulatory or legislative developments; (xxvii) fluctuations in the valuations of Pinnacle Financial'sequity investments and the ultimate success of such investments; (xxviii) the availability of and access to capital; (xxix) adverse results (including costs, fines, reputationalharm, inability to obtain necessary approvals and/or other negative effects) from current or future litigation, regulatory examinations or other legal and/or regulatory actions, including as a result of Pinnacle Bank's participation in and execution of government programs related to the COVID-19 pandemic; and (xxx) general competitive, economic, political and market conditions. Additional factors which could affect the forward lookingstatements can be found in Pinnacle Financial'sAnnual Report on Form 10-K for the year ended December 31, 2021, and subsequently filed Quarterly Reports on Form 10-Q and Current Reports on Form 8-K filed with the SEC and available on the SEC's website at http://www.sec.gov. Pinnacle Financial disclaims any obligation to update or revise any forward-looking statements contained in this presentation, which speak only as of the date hereof, whether as a result of new information, future events or otherwise. 2 Safe Harbor Statements Non-GAAP Financial Matters This presentation contains certain non-GAAP financial measures, including, without limitation, earnings per diluted common share, PPNR, efficiency ratio and the ratio of noninterest expense to average assets, excluding in certain instances the impact of expenses related to other real estate owned, gains or losses on sale of investment securities, FHLB restructuring charges, hedge termination charges and other matters for the accounting periods presented. This presentation also includes non-GAAP financial measures which exclude the impact of loans originated and forgiven and repaid under the PPP. This presentation may also contain certain other non-GAAP capital ratios and performance measures that exclude the impact of goodwill and core deposit intangibles associated with Pinnacle Financial's acquisitions of BNC, Avenue Bank, Magna Bank, CapitalMarkBank & Trust, Mid-America Bancshares, Inc., Cavalry Bancorp, Inc. and other acquisitions which collectively are less material to the non-GAAP measure as well as the impact of Pinnacle Financial'sSeries B Preferred Stock. The presentation of the non-GAAP financial information is not intended to be considered in isolation or as a substitute for any measure prepared in accordance with GAAP. Because non-GAAP financial measures presented in this presentation are not measurements determined in accordance with GAAP and are susceptible to varying calculations, these non-GAAP financial measures, as presented, may not be comparable to other similarly titled measures presented by other companies. Pinnacle Financial believes that these non-GAAP financial measures facilitate making period-to-period comparisons and are meaningful indications of its operating performance. In addition, because intangible assets such as goodwill and the core deposit intangible, and the other items excluded each vary extensively from company to company, Pinnacle Financial believes that the presentation of this information allows investors to more easily compare Pinnacle Financial'sresults to the results of other companies. Pinnacle Financial'smanagement utilizes this non-GAAP financial information to compare Pinnacle Financial'soperating performance for 2022 versus certain periods in 2021 and to internally prepared projections. 3 2Q22 Financial Dashboard Key success measures including core loan growth, net interest income growth, fee income growth, and asset quality all continue to be strong. 4 NCOs Classified Asset Ratio NPA/ Loans & ORE Shareholder Value Dashboard 2Q22 Summary Results of Key GAAPMeasures 5 PNFP’s Median Quarterly Performance of 0.43% PNFP’s Median Quarterly Performance of 0.10% Total Revenues PNFP’s Median Quarterly Performance of 11.6% Total Loans (millions) Net Income* Total Deposits (millions) FD EPS Book Value per Common Share Total Loans (millions) NCOs Classified Asset Ratio NPA/ Loans & ORE Tangible Book Value per Share** Total Core Deposits (millions) Adjusted Pre-Tax Pre-Provision Net Income* FD EPS* CAGR 11.7% Qtd AGR 50.9% Total Revenues* CAGR 13.7% Qtd AGR 54.9% *: excluding merger-related charges, gains and losses on sales of investment securities, ORE expense (income), loss on sale of non-prime automobile portfolio, branch rationalization charges, FHLB restructuring charges and hedge termination charges. PPNR represents pre-tax, pre-provision net revenues. **: excluding goodwill, core deposit and other intangible assets Note: For a reconciliation of these Non-GAAP financial measures to the comparable GAAP measures, see slides 59-60. CAGR 11.2% Qtd AGR 29.9% CAGR 17.1% Qtd AGR (5.1%) CAGR 13.0% Qtd AGR 4.1% CAGR 12.4% Qtd AGR 83.9% 6 PNFP’s Median Quarterly Performance of 11.6% PNFP’s Median Quarterly Performance of 0.10% PNFP’s Median Quarterly Performance of 0.43% Shareholder Value Dashboard 2Q22 Summary Results of Key Non-GAAPMeasures 7 49.4% 44.6% 30.6% 28.1% 0% 5% 10% 15% 20% 25% 30% 35% 40% 45% 50% 55% 60% 1Q162Q163Q164Q161Q172Q173Q174Q171Q182Q183Q184Q181Q192Q19 Cumulative NII Per Share Growth* & Deposit Beta Cumulative NII Per Share Growth* vs. Cumulative Deposit Beta –Last cycle 1Q16 through 2Q219 PNFP NII/Share GrowthPNFP Cumulative BetaPeer Median NII/Share GrowthPeer Median Cumulative Beta Keeping the Main Thing the Main Thing Pinnacle’s goal is rapidly growing revenue and EPS, not a low deposit cost beta *: Excludespurchaseaccounting. For a reconciliation of these Non-GAAP financial measures to the comparable GAAP measures, see slide 61. PNFP’s Approach to M&A is Strategic and Disciplined The Flywheel Effect: “Almost Unstoppable Momentum” Pinnacle’s Flywheel is Spinning 8 9 The Flywheel Effect: “Almost Unstoppable Momentum” Pinnacle’s performance is driven by its high-performance culture 10 ENGAGED CLIENTS EXCITED ASSOCIATESENRICHED SHARHOLDERS Recent Workplace Awards* Greenwich Net Promoter Scores Share Price Performance 0%50%100% Tennessee Memphis Knoxville Chattanooga Nashville PromotersPassives •No. 28100 Best Companies to Work for in the U.S., 2022, Great Place to Work® US and @FortuneMagazine oNo. 6Best Workplaces for Women oNo. 7Best Workplaces for Millennials, 2022 oNo. 8Best Workplaces in Financial Services and Insurance •No. 9Best Banks to Work For, American Banker, oNo. 1among banks with $11 billion or more in assets •No. 1Top Workplaces in Knoxville •No. 1Best Places to Work in Memphis •No. 1Best Places to Work in the Triad •No. 1Best Places to Work in the Triangle •No. 1Top Workplaces in Charlotte •No. 1Top Workplaces in South Carolina •Top 10Best Places to Work in Chattanooga •No. 11Best Place to Work in Virginia •No. 15Best Places to Work in Atlanta 0%50%100% North Carolina Charlotte Greensboro PromotersPassivesDetractors NPSRANK 891 882 911 661 881 NPSRANK 751 642 741 Source: 2021 Greenwich Associates Market Tracking Program (Pinnacle Financial -$1-500MM –FY 2021 –Banking). Source: Factset; SNL Financial; Note: market data as of June 30, 2022 The Flywheel Effect: “Almost Unstoppable Momentum” Pinnacle’s high-performance culture has delivered reliable outsized returns Since IPO 10 yr.5 yr.3 yr. PNFP1,346%271%15%26% KRX134%94%1%7% Out/(under) performance1,212%177%14%19% *: 2021 unless otherwise noted 11 The Flywheel Effect: “Almost Unstoppable Momentum” Management creates desired outcomes in part due to its incentive structure Classified Asset Ratio FD EPS* Adjusted Pre-Tax Pre-Provision Net Income* Total Revenues* Annual Cash Incentives Long-term Equity Based Incentives Tangible Book Value per Share** ROTCE *: excluding merger-related charges, gains and losses on sales of investment securities, ORE expense (income), loss on sale of non-prime automobile portfolio, branch rationalization charges, FHLB restructuring charges and hedge termination charges. PPNR represents pre-tax, pre-provision net revenues. **: excluding goodwill, core deposit and other intangible assets Note: For a reconciliation of these Non-GAAP financial measures to the comparable GAAP measures, see slides 59-60. 12 What’s Important Now for PNFP Our focus remains constant •Asset Quality is Job #1 •Impacts incentive program meaningfully •Continued investment in our culture •Direct linkage between associate engagement and shareholder value creation •Maintain our “Best Place to Work” brand •Magnet for talent acquisition from competitors •Continue to build market share momentum •Business model built to take share •Wow clients and create raving fans •Relationship banking in a differentiated way 2Q22 Financial Information 2Q22 financial results reflect PNFP’s continued success in seizing the opportunity to gather valuable talent and clients from vulnerable competitors. In spite ofthe current rising rate environment, loan growth was substantial in the second quarter, as was net interest income and fee growth. 13 PNFP Linked-Quarter Annualized Average Loan Growth was 26.0% in 2Q22 Linked-quarter annualized average loan growth ex-PPP was 29.2%* Average Loan Growth and Loan Yields 14 2Q22 Loan Highlights •EOP linked-quarter annualized loan growth of 31.9% excluding decline in PPP. •99% of loan floors cleared as of Jun. 30, 2022. $13.1 billion of floating rate loans are now subject to future rate increases. •Estimating high-teen to low 20% loan growth for FY 2022 given current economic conditions, recent hires and momentum in our new markets. $13,100 $95.2 $5.8$2.0 $0.3 $6.3 $0 $2,000 $4,000 $6,000 $8,000 $10,000 $12,000 $14,000 No Floor1-25 bps26-50 bps51-75 bps76-100 bps> 100 bps Loan Balances (millions) LIBOR/SOFR/Prime ($13.2 billion): -$5.6 billion w/no floor -$7.6 billion “out of the money” floors -Only $110 million “in the money” floors remain 13.3% 11.7% 4.2% 11.7% 28.1% 0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 30.0% Organic EOP Loan Growth^ ^: Excludes PPP loans *: YTD Annualized $8,558 $9,817 $15,017 $15,520 $15,957 $16,730 $17,259 $17,630 $17,938 $18,611 $19,217 $19,600 $20,009 $22,257 $22,493 $22,525 $22,848 $23,180 $22,986 $23,226 $23,849 $25,397 4.49% 4.07% 3.20% 3.40% 3.60% 3.80% 4.00% 4.20% 4.40% 4.60% 4.80% 5.00% 5.20% 5.40% $2,000 $4,000 $6,000 $8,000 $10,000 $12,000 $14,000 $16,000 $18,000 $20,000 $22,000 $24,000 $26,000 Loan Yields Average Loans (millions) *: Excludes PPP loans. For a reconciliation of these Non-GAAP financial measures to the comparable GAAP measures, see slides 59-61. Client Acquisition Strategies Are Yielding Results Loan growth is a result of successful execution of several growth strategies 15 Loan Growth in 1H22 Result of Strategic Decisions: •Asset Generators -$165 million •BHG, JBB and Advocate Capital •Strategic Expansion -$900 million •ATL, DC, B’ham, H’ville, Franchise Finance, Equipment Finance, etc. •Recruiting Impact-$725million •New RMs hired in past 2.5 years •Legacy market growth still the largest component -$1.45 billion Note:Strategic expansion volumes include certain loans that are recorded in the various geographies (as detailed on slide 32) but forillustration purposes above are included as Strategic Expansion loans due to the relationship managers being assigned to a specialty lending unit. 11.1% 6.8% 33.5% 24.7% 4.7% 0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 30.0% 35.0% Annual Core Deposit Growth #: YTD annualized. Deposit GrowthSlowedinSecondQuarter We believe an outsized tax season negatively impacted core deposits in 2Q Core Deposit Growth Rates 16 2Q22 Deposit Highlights •Noninterest bearing deposits held steady throughout quarter – Up 2.6% at EOP Jun. 30,2022 from Dec. 31, 2021. •Linked-quarter core deposits shrunk 1.3%; shrinkage was largely isolated to April with a 3.1%decline which was offset in part by positive growthof 0.8% and 1.0% in May and June, respectively. •Avg. deposit costs increased from0.13% to 0.23% for the quarter. On-the-spot deposit rates atMarch 16, 2022 approximated 14 basis points compared to 48 basis points at July 18, 2022. Deposit RateTranches Jun. 30, 2021 EOP Rates Mar. 31, 2022 EOP Rates Jun. 30, 2022 EOP Rates June 30, 2022 % of Totals Noninterestbearing---------33.9% Interest-bearing: Rate sheet 0.05%0.06%0.44%24.7% Negotiated 0.23%0.21%0.58%26.5% Indexed 0.28%0.43%1.54%7.4% CDs 0.71%0.49%0.91%7.4% TotalIBD 0.26%0.22%0.67%66.1% Total 0.18%0.14%0.44%100.0% $9,099 $10,394 $15,828 $16,092 $16,281 $16,949 $18,113 $18,368 $18,358 $18,865 $19,778 $20,079 $20,680 $24,807 $26,352 $27,193 $27,621 $28,014 $28,740 $30,034 $31,539 $31,484 0.23% 0.00% 0.25% 0.50% 0.75% 1.00% 1.25% 1.50% $2,000 $6,000 $10,000 $14,000 $18,000 $22,000 $26,000 $30,000 $34,000 Deposit Costs Average Deposits (million) Average Deposit Growth Avg. DepositsCost of Deposits Excess Liquidity Remains Available to Fund Loan Growth A meaningful step towards normalization in 2Q provided a boost to NIM 2Q22 Liquidity Highlights •Outsized loan growth, purchaseof$400millionin floating rate securities and modest depositgrowth combined to reduce excess liquidity and improve NIM. •Average FFS, IB cash & Repo balances decreased to 7.7% of earning assets in 2Q22 compared to 13.3% in 1Q22 and 2.7% in pre-pandemic 1Q20. •Intend to remain disciplined and opportunistic with respect to deploying liquidity outside of loan growth; no growth in securities expected in near term. *Adjusted NIM excludes the impact of liquidity build and the PPP lending programs. See slides 46-54 for a reconciliation of reported NIM to adjusted NIM. 17 3.28% 2.87% 2.82% 2.97% 3.02% 3.08% 3.03% 2.96% 2.89% 3.17% 3.19% 3.22% 3.27% 3.29% 3.25% 3.21% 3.20% 3.18% 3.29% 2.70% 2.80% 2.90% 3.00% 3.10% 3.20% 3.30% 3.40% 1Q202Q203Q204Q201Q212Q213Q214Q211Q222Q22 Reported NIM vs. Adjusted NIM NIM (GAAP)NIM (Adjusted)* 0.00% 0.25% 0.50% 0.75% 1.00% 1.25% 1.50% $0 $500 $1,000 $1,500 $2,000 $2,500 $3,000 $3,500 $4,000 $4,500 $5,000 1Q202Q203Q204Q201Q212Q213Q214Q211Q222Q22 Average Quarterly Yield Average Balances ($ in millions) Quarterly Avg. FFS, IB Cash & Repos Avg. FFS, IB Cash & ReposYield 2.00% 2.25% 2.50% 2.75% 3.00% 3.25% $2,500 $3,000 $3,500 $4,000 $4,500 $5,000 $5,500 $6,000 $6,500 1Q202Q203Q204Q201Q212Q213Q214Q211Q222Q22 Average Quarterly Yield Average Blalances ($ in millions) Quarterly Avg. Securities Avg. SecuritiesYield PNFP’s Asset Quality Has Continued to Hold Up Asset quality metrics continue to break records 18 2Q22 AssetQualityHighlights •Several measurements improve to all time records and remain in top- quartile performance when compared to peers. •Client selection remains our most valuable credit attribute •ACL to total loans decreased to 1.03%. •Credit officers more diligent on stress testing given economic climate and more active in segment monitoring, particularly in CRE. 0.10% 0.09% 0.10% 0.17% 0.01% Net Charge-offs 0.53% 0.55% 0.38% 0.27% 0.09% NPA/ Loans & ORE 12.6% 13.9% 11.2% 6.8% 2.9% Classified Asset Ratio 0.23% 0.21% 0.09% 0.07% 0.11% Past Dues as a % of Total Loans CRE Credit Appetite 19 Land / Spec A&D Malls, Big Box Retail High Rise Apartments & Condo’s Hospitality Office Student Housing Senior Housing Self-Storage Retail –Grocery Store Anchored Retail –Build to Suit 1-4 Resi. Pre-Sold Medical Office Multifamily Industrial/Warehouse •Opportunities substantially limited to current clients with excellent PNFP track records •Market dynamics will determine appetite for any asset class – rent roles, occupancy, absorption, etc. •Deal structure exceptions require elevated approval authorities •Internal specialists required on financing based on size and complexity PNFP Increased Focus with Respect to our CRE Credit Appetite “Catch don’t Cast” strategy in effect for current environment Top 30 CRE deals –approx. $1.34B in commitments: •Long-term relationships -RMs have banked sponsors for an average of 8.1 years •70% originated/managed by designated CRE Specialists •Strong metrics at origination –65% average LTC, 52% average LTV, ongoing stress testing •28 of 30 loans located within defined PNFP markets 2Q221Q222Q21 Linked-Quarter Annualized Growth % Year-over-Year Growth % Service charges $11,616$11,030$8,906 21.3%30.4% Investment services 13,20510,6918,997 94.1%46.8% Trust fees 6,0655,9735,062 6.2%19.8% Insurance commissions 2,5544,0362,406 >(100%)6.2% Gain on mortgage loans sold, net 2,1504,0666,700 >(100%)(67.9%) Investment gains (losses), net-(61)366 >100%>(100%) Income from equity method investment (BHG)49,46533,65532,071 >100%54.2% Other: Interchange and other consumer fees19,21614,63014,136 >100%35.9% Bank-owned life insurance5,1244,6364,743 42.1%8.0% Loan swap fees1,6681,774985 (23.9%)69.3% SBA loans sales 1,5623,0963,834 >(100%)(59.3%) Income from other equity investments6,6691,7106,956 >100%(4.1%) Other6,2088,2603,045 (99.4%)>100% Total noninterest income$125,502$103,496$98,207 85.1%27.8% Noninterest income/Average Assets1.30%1.09%1.12% 77.1%16.1% Noninterest income**$125,502$103,557$97,841 84.8%28.3% Noninterest Income**/Total Average Assets1.30%1.09%1.12% 77.1%16.1% Noninterest Income**/Total Average Assets^1.30%1.09%1.18% 77.1%10.2% **:Excluding gains and losses on sales of investment securities. For a reconciliation of these Non-GAAP financial measures to the comparable GAAP measures, see slides 59-60. ^: Excluding the impact of PPP loans on average assets PNFP Grows Fees 27.8% YOY PNFP continues focus on gathering more share of wallet from client base 20 •Wealth management groups are producing significant growth primarily due to an increased roster of wealth management advisors as well as referrals from bankers across the franchise. •Residential mortgage business is negatively impacted by an increase in interest rates, housing costs increases and reductions in inventories. •Income from BHG remains strong. Linked-quarter revenues are up in 2Q22, with year-over-year revenues up more than 54%. •Other noninterest income for 2Q22 includes increases in commercial credit card interchange, increased income from other equity-method investments as a result of updated market values, and an increase in capital markets income, offset by a decline in SBA loan sales. 1Q22 other noninterest income reflects investment mark previously reported as a result of the acquisition of JB&B. *:Excluding the impact of ORE expense (income). **: Excluding the impact of ORE expense (income) and securities gains and losses, net. For a reconciliation of these Non-GAAP financial measures to the comparable GAAP measures, see slide 59-60. New Markets and New Talent Drive Expense Growth Incentive expenses fluctuations positively correlate with earnings 21 2Q221Q222Q21 Linked-Quarter Annualized Growth % Year-over-Year Growth % Salaries and employee benefits: Salaries$70,405$69,142$58,622 7.3%20.1% Commissions6,3536,2225,452 8.4%16.5% Cash and equity incentives 31,80825,89431,293 91.4%1.6% Employee benefits and other18,04520,59415,457 (49.5%)16.7% Total salaries and benefits$126,611$121,852$110,824 15.6%14.2% Equipment and occupancy 26,92125,53623,32121.7%15.4% Other real estate, net 86105(657)(72.4%)>100% Marketing and other business development 4,7593,7772,652>100%79.4% Postage and supplies 2,3202,3712,115(8.6%)9.7% Amortization of intangibles 2,0511,8712,16738.5%(5.4%) Other noninterest expense: Deposit related expense7,3117,0627,041 14.1%3.8% Lending related expense14,74411,0959,634 >100%53.0% Wealth management expense630623509 4.5%23.8% Other noninterest expense10,6058,3698,534>100%24.3% Total$33,290$27,149$25,718 90.5%29.4% Total noninterest expense$196,038$182,661$166,140 29.3%18.0% Efficiency ratio50.3%53.3%50.1% (22.5%)0.4% Expense/Total Average Assets2.03%1.92%1.90% 22.9%6.8% Noninterest expense *$195,952$182,556 $166,797 29.4%17.5% Efficiency ratio ** 50.2%53.2% 50.4% (22.6%)(0.4%) Noninterest Expense*/Total Avg. Assets2.03%1.92% 1.91% 22.9%6.3% Headcount (FTE)3,074.02,988.0 2,706.0 11.5%13.6% •Salary and benefit costs increases from the same quarter last year reflect the impact of 11+% increase in FTEs. •Anticipated cash incentives for 2Q22 increased over 1Q22 in anticipation of the likelihood of achieving maximum payouts in relation to target awards along with strong 2Q22 earnings •JB&B Capital, Inc. should add approximately $12 to $13 million in expense costs in 2022. •Marketing and other business development costs up in 2Q22 due to increased number of employee gatherings (e.g., orientation sessions) and other conferences and seminars sponsored by the firm. •Other noninterest expense increased in 2Q22 due to corporate credit card program expenses and increased accruals for various contracted services provided by professional service firms. •Share Buy Back Program – •Board authorized a $125.0 million plan on January 18, 2022to commence when prior plan expired on March 31, 2022; new plan approved through March 31, 2023; no shares repurchased YTD in 2022 or anticipated to be repurchased this year under the most recent authorization. Preservation and Growth in Tangible Book Value Remains a Critical Focus Secondquarterreflects growth in TBV/Share •Tangible Book Value per Common Share Growth – •Tangible book value per common share atJune 30, 2022up 5.8% from June 30, 2021. •Tangible book value down year-to-date 2022 due in large part to a downward market value adjustment of approximately $179 million on the firm’s available-for-sale investment securities portfolio as a result of rising rates. •Change in tangible book value per common share in comparison to peers added as a performance component to leadership equity compensation plan in 2021 and remains a component in 2022. 15.0% 19.0% 14.8% 14.2% -1.1% 2018 2019 2020 2021 YTD 2022 Focused on preserving and growing TBV per common share **: excluding goodwill, core deposit and other intangible assets Note: For a reconciliation of these Non-GAAP financial measures to the comparable GAAP measures, see slides 59-60. Peer group noted on slide 62. 22 •Dividends – •Dividends per common share is $0.22 in 2Q22. $25.28 $30.26 $34.43 $39.77 $42.08 Tangible Book Value per Common Share** PNFP Remains Optimistic about 2022 We remain confident in our model to produce outsized revenue and earnings growth 2022 Outlook –as of July 19, 2022 (Note) Y/Y End of Period Loan Growth•We anticipate high-teens to low 20% loan growth for 2022 end of year balances over 2021 year-end levels. Y/Y End of Period DepositGrowth •We anticipate 2022 end of year balances to show mid-to high-single digit growth when compared to 2021 end of year balances. Core deposits anticipated to grow mid-to-high single digit as well. Net interest income•GAAP net interest income growth for 2022 is estimated to be high-teens growth from 2021 primarily due to anticipated increases in rates and volumes in 2022. Our planning assumption contemplates a federal funds rate of approximately 3.25% by year end 2022. Fee income•We estimate fee income from BHG will grow by at least 15% in FY22 over FY21 levels. We estimate that fee income growth should approximate high-single digit percentage growth for those categories of non-interest income other than income we receive from BHG and from investments in joint ventures and venture capital and other funds, which we are not forecasting given the uncertainty with respect to amounts and timing of any such income. Expenses•We plan to continue to aggressively recruit the best revenue producers in our markets which would also require increased infrastructure support. As a result, inclusive of increased incentive accruals and the addition of JB&B, we anticipate total expenses in 2022 to approximate mid-teen percentage increases in 2022 over 2021. Asset quality•Thus far, our asset quality measurements remain in great position as we enter 2H22. Further reductions in our ACL are possible just somewhat less than we anticipated as we entered 2022. 23 Note: 2022 outlook is based on current facts and circumstances. Our outlook is subject to change based on numerous factors whichmay require us to change our outlook at any time. These factors may include, among the other risks described herein, changes in operating strategy, balance sheet positioning or macroeconomic factors such as significant changes in interest rates from those we are modeling. See slide 2 of these materials for more information. Bankers Healthcare Group BHG’s differentiated model has proven very resilient with continued strong originations, loan sales and yield/spread premium. The gain on sale model continues to provide meaningful earnings to BHG and to Pinnacle even as BHG has increased the mix toward balance sheet spread income via securitizations. Capital and reserve levels support a very sound balance sheet. 24 BHG Business Model Drives Outperformance •2Q22 was the 8th consecutive record highest origination quarter in the history of BHG •Net interest spreads (~10%+) have been resilient for several years in spite ofinterest rate fluctuations. Anticipate shrinkage in spreads in 2H22, potentially by ~1% or more as rates continue to rise •BHG’s vast bank funding platform continues to provide ready liquidity and differentiates BHG from other online lenders Source: BHG Internal Data –charts exclude impact of PPP and SBA loans originated by BHG. Furthermore, borrower coupon rates include all loans originated by BHG including loans retained by BHG on balance sheet as well as loans sold to other banks. BHG has had a Record Start in 2022 BHG continues to originate loans at record levels while maintaining strong yields 13.5% 13.8% 13.9% 13.6%13.6% 13.4% 13.9% 13.9% 14.0% 14.2% 5.2% 5.6% 4.9% 4.3% 4.0% 3.7% 3.4% 3.2% 3.1% 4.4% 0% 2% 4% 6% 8% 10% 12% 14% 16% 1Q202Q203Q204Q201Q212Q213Q214Q211Q222Q22 Borrower CouponBank Buy Rate - 200 400 600 800 0 200 400 600 800 1,000 1,200 1,400 1,600 20172018201920202021TTM Bank Network Trends Total Banks in NetworkUnique Buyers Total Banks in Network Unique Buyers Each Period 25 $429 $375 $452 $528 $628 $714 $727 $739 $855 $1,011 $381 $387 $400 $388 $443 $393 $383 $377 $343 $658 $0 $200 $400 $600 $800 $1,000 $1,200 1Q202Q203Q204Q201Q212Q213Q214Q211Q222Q22 OriginationsPlacements Loan Originations and Placements Coupon and Buy Rates •Recourse obligation reserves maintained at ~5% of total loans outstanding (loans sold to other banks) after considering the potential impact of current macroeconomic pressures in 2H22 BHG Credit Quality Continues to Impress Sophisticated credit scoring models produce impressive results Recourse Obligation Reserves (Note) (Green Bars –Balance of loans in bank network, $s in millions) Note: Recourse Obligation is a reserve on BHG’s balance sheet set aside to cover losses attributable to acceptance of substitutions from loans previously sold to banks in the BHG network. Source: BHG Internal Data BHG’s On Balance Sheet Reserves Remain Strong BHG increased their recourse accrual in 2Q22 26 4.20% 3.79% 3.73% 3.22% 3.74% 4.56% 4.71% 4.62% 7.64% 5.00% 4.98% $- $500 $1,000 $1,500 $2,000 $2,500 $3,000 $3,500 $4,000 $4,500 $5,000 0.00% 1.00% 2.00% 3.00% 4.00% 5.00% 6.00% 7.00% 8.00% 20122013201420152016201720182019202020212Q22 Total Ending Balance at outside banks only ($millions)Recourse Obligation as a % of Outstanding 3.79% 2.94% 2.95% 1.83% 2.68% 3.25% 2.72% 2.47% 2.87% 2.51% 1.85% 0.25% 0.36% 0.33% 0.58% 0.99% 1.30% 1.45% 1.16% 1.38% 2.13% 2.36% 4.04% 3.31% 3.28% 2.40% 3.66% 4.55% 4.17% 3.64% 4.26% 4.64% 4.21% 0.00% 1.00% 2.00% 3.00% 4.00% 5.00% 6.00% Recourse Losses as % of Outstanding Balances Credit Loss %Prepayment Loss % •FICO scores continue to reflect a high caliber borrower base •Average FICO scores of 733 at origination for loans outstanding at Jun 30, 2022 •Weighted average annual income of BHG borrower base approximates $287,000. •Historical credit results indicate that 70% of losses occur within first 36 months of origination •Data is through June 30, 2022; 2021 information includes 18 months of history. Steady improvement in credit over past 7-8 years. BHG Credit Quality Continues to Impress Sophisticated credit scoring models produce impressive results Historical FICO Scores Source: BHG Internal Data BHG’s Strong Credit Quality Remains Differentiator Vintage analysis demonstrates continued strength in asset quality 0%10%20%30%40%50%60%70%80%90%100% 2022 2020 2018 2016 2014 2012 2010 2008 2006 2004 2002 <650650-699700-749750-799>800 27 BHG Anticipates 15% Growth in 2022 Alternative revenue channels remain in 2022 launch pipeline Other 2Q22 Highlights •Closed $300mm BHG 2022-B securitization in June. •Fitch/KBRA rated AAA on Class A (45%), all classes IG •Borrowers -WAR 14.65%. Avg. Balance $76.8K. WA Fico 730. •Securitization WAR of 5.5%, exclusive of servicing fees of ~1.03% •Opened Atlanta office –40+ professionals BHG Future Growth opportunities •Deeper penetration for Core Product, < 1% of market share currently •Expansion of credit card platform to medical and other professionals as well as potential alliances with Banks and other FinTechs •Patient lending for hospitals and surgery centers with loan terms up to 60 months •Launched POS for elective medical procedures as well as other retail and home improvement financing outlets •White label consumer lending platform with Bank Network •Leverage partnership with Pinnacle to develop deposit products for medical and other professionals 28 $77 $104 $183 $172 $241 $0 $100 $200 $300 $400 201720182019202020212022 (fc) BHG Pre-Tax Earnings ($ millions) BHG estimates pre-tax earnings growth in 2022 of ~15% $711 $873 $1,449 $1,785 $2,808 $0 $500 $1,000 $1,500 $2,000 $2,500 $3,000 $3,500 $4,000 201720182019202020212022 (fc) BHG Loan Originations ($ billions) BHG estimates loan origination growth in 2022 of ~40% Q&A SECOND QUARTER 2022 29 Supplemental Information Slide # •Balance Sheet31 •Income Statement55 •Peer Group62 30 Balance Sheet –Loan Portfolio Segments ($ in millions)Amts. 2Q22 % 2Q22 Amts. 1Q22 % 1Q22 Amts. 2Q21 % 2Q21 Amts. 2Q20 % 2Q20 C&I $9,244.735.1%$8,213.133.5%$6,771.329.6%$6,293.727.9% C&I –Paycheck Protection Program 51.10.2%157.20.6%1,372.96.0%2,222.69.9% CRE –Owner Occ. 3,243.012.3%3,124.312.8%2,817.712.3%2,708.312.0% Total C&I & O/O CRE $12,538.847.6%$11,494.646.9%$10,961.947.9%$11,224.649.8% CRE –Investment 4,909.618.6%4,707.819.2%4,644.520.2%4,822.521.4% CRE –Multifamily and other 952.03.6%718.82.9%724.33.2%561.52.5% C&D and Land 3,386.912.9%3,277.013.4%2,791.612.2%2,574.511.5% Total CRE & Construction $9,248.535.1%$8,703.635.5%$8,160.435.6%$7,958.535.4% Consumer RE 4,047.115.4%3,813.315.6%3,335.514.6%3,042.613.5% Consumer and other 498.81.9%487.52.0%440.11.9%294.51.3% Total Other $4,545.817.3%$4,300.817.6%$3,775.616.5%$3,337.114.8% Total loans $26,333.1100.0%$24,499.0100.0%$22,897.9100.0%$22,520.2100.0% 31 ($ in millions) TOTAL PINNACLEC&I & O/O CRECRE & CONSTRUCTIONOTHER LOANS* Amts. 2Q22 Amts. 2Q21 Amts. 2Q22 Amts. 2Q21 Amts. 2Q22 Amts. 2Q21 Amts. 2Q22 Amts. 2Q21 Nashville $7,741.1$6,635.0$3,420.5$2,913.5$2,793.7$2,487.9$1,526.9$1,233.6 Knoxville 2,032.51,776.41,194.41,014.5460.3466.1377.8295.8 Chattanooga 1,622.01,485.6931.5848.5355.1344.1335.4293.0 Memphis 1,838.61,563.61,029.8834.6459.6471.6349.2257.4 Huntsville 35.3-19.4-4.0-11.9- Birmingham 246.7-222.7-33.2-7.0- Total Tennessee /AL $13,532.4 $11,460.6 $6,818.4 $5,611.1$4,105.9 $3,769.7 $2,608.2 $2,079.8 Greensboro/Highpoint 2,046.8 1,687.1751.8 581.21,001.6 866.5293.4 239.4 Charlotte 2,896.42,331.4787.3536.81,593.41,361.9515.7432.7 Raleigh 1,560.41,286.0280.5209.01,145.7936.5134.2140.5 Charleston 926.1882.6207.0188.1478.7454.4240.4240.1 Greenville 520.8436.2161.0129.7289.1251.370.755.2 Roanoke 619.5589.1222.3175.9285.0313.9112.299.3 Washington, D.C. 78.3-71.8-6.5--- SBA Lending Team 166.1138.1152.1121.911.815.22.21.0 Total Carolina/VA $8,814.4 $7,350.5 $2,633.7 $1,942.6$4,811.8 $4,199.7$1,368.8$1,208.2 Atlanta 642.3 $206.3 355.7 120.6227.4 55.3 59.2 30.4 Specialty Lending* 1,289.1 822.3 1,065.8 -53.1 10.1 170.3 131.5 Paycheck ProtectionProgram 51.1 1,372.9 51.1 1,372.9---- Other 2,003.7 1,685.3 1,614.1 1,234.050.3125.6339.3 325.7 Total $26,333.1 $22,897.9 $12,538.8 $10,961.9$9,248.5 $8,160.4 $4,545.8 $3,775.6 Balance Sheet –Loan Portfolio –Market Segmentation Note: Percentages noted in red text represent year-over-year growth rates. *: Represents mortgage, associate banking, automobile finance and various other business lines. 32 Balance Sheet –Loan Portfolio –CRE Segmentation ($ in millions) Total NOO and MultifamilyTotal ConstructionTotal NOO and Construction Amts. 2Q22 Amts. 1Q22 Amts. 2Q21 Amts. 2Q22 Amts. 1Q22 Amts. 2Q21 Amts. 2Q22 Amts. 1Q22 Amts. 2Q21 Multifamily $996.4$709.9$713.5$819.4$886.6$696.8$1,815.8$1,596.5$1,410.3 Hospitality 778.4817.4850.921.719.089.5800.1836.4940.4 Retail 1,422.71,250.71,235.3219.0166.1142.31,641.71,416.81,377.6 Office 850.5840.9883.6232.8187.9173.21,083.31,028.81,056.8 Warehouse 779.6720.2692.2600.3534.9275.01,379.91,255.1967.2 Medical 713.9486.9474.1133.774.490.9847.6561.3565.0 Other 320.1600.6519.21,360.01,408.11,323.91,680.12,008.71,843.1 Total $5,861.6$5,426.6$5,368.8$3,386.9$3,277.0$2,791.6 $9,248.5$8,703.6$8,160.4 Average Ticket Size (in ‘000s) $2,185.2$2,031.4$1,955.8$725.9$733.3$638.8 $1,259.5$1,220.4$1,147.8 33 34 Rate IndexPortfolio Snapshot: End-of-PeriodWeighted Average Coupon Loan Originations: Quarterly Average Rate At Jun. 30, 2021 At Mar. 31, 2022 At Jun. 30, 2022 YOY Change As a % of Total Portfolio 2Q211Q222Q22 Origination Mix 2Q22 LIBOR/SOFR2.80%2.87%3.61%0.81%36.2%2.82%2.76%3.79%38.0% 1-MO LIBOR0.10%0.45%1.79%1.69%0.10%0.23%1.02% Prime3.72%3.87%4.93%1.21%16.7%3.85%3.94%4.99%19.2% FFS target0.25%0.50%1.75%1.50%0.25%0.30%0.96% T-Bill4.22%4.00%4.06%(0.16)%4.7%3.69%3.78%4.49%3.1% 5-YR UST0.89%2.46%3.04%2.15%0.83%1.83%2.95% FixedRate4.06%3.81%3.84%(0.22)%42.3%3.71%3.55%4.22%39.7% Total Loans*3.55%3.49%3.95%0.40%100.0%3.52%3.38%4.21%100.0% *Excludes leases, credit cards, PPP loans and loans HFS; loan yields consider contractual floors for individual loans but exclude the impact of other loan interest rate derivative products. Balance Sheet –Loan Pricing Information PPP Program was a Differentiator for Pinnacle Pinnacle provided needed stimulus to smaller businesses in 2020 and 2021 PPP Trends $(000’s) Average Balances Aggregate Yield Interest Income Accretion Income Total Revenues 2Q20$ 1,689,0332.89%$ 4,673$ 7,449$ 12,122 3Q20$ 2,235,2772.77%$ 5,795$ 9,760$ 15,555 4Q20$ 2,111,2824.64%$ 5,223$ 19,421$ 24,644 1Q21$ 2,064,8824.51%$ 5,167$ 17,788$ 22,955 2Q21$ 1,929,3635.47%$ 4,987$ 21,318$ 26,305 3Q21$ 983,4868.54%$ 2,711$ 18,464$ 21,175 4Q21$530,93011.56%$ 1,396$ 14,078$ 15,474 1Q22$255,63716.96%$ 667$ 10,172$ 10,839 2Q22$84,69819.23%$ 225$ 3,906$ 4,131 •$51.1 million in PPP balances remain on balance sheet atJune 30, 2022 •Unamortized fees of $1.1 mm atJune 30, 2022to be recognized as loans are paid down or forgiven 35 ($000’s)2020 PPP2021 PPPTotals Total PPP fundings$ 2,483,177 $ 933,872$ 3,417,049 Total forgiveness, payoffs processed through June 30, 2022 $ 2,467,515$ 898,434$ 3,365,948 Net PPP Balances atJune 30, 2022$ 15,662$ 35,438$ 51,100 Total fees for PPP fundings$ 77,431$ 46,021$ 123,452 Fee income recognized in prior years$ 77,203$ 31,108$ 108,311 Fee income recognized in 2022$ 221$ 13, 856$ 14,077 Fees unrecognized$ 7$ 1,057$ 1,064 Total interest income recognized in 2022$ 109$ 783$ 892 Total fee income recognized in 2022$ 221$ 13,856$ 14,077 Total revenues from PPP in 2022$ 330$ 14,639$ 14,969 Balance Sheet –Loan Portfolio Lines of Credit ($'s in millions) 12/31/20203/31/20216/30/20219/30/202112/31/20213/31/20226/30/2022 Linked Qtr. Change CRE –Investment & Construction Net Active Balance$4,106.82$4,051.74$3,921.54$4,040.73$3,727.20$4,096.40$4,389.62$293.22 Net Available Credit3,191.473,463.313,841.694,158.194,968.765,347.776,145.46797.69 Total Exposure7,298.297,515.067,763.248,198.928,695.969,444.1810,535.081,090.90 % Funded56.3%53.9%50.5%49.3%42.9%43.4%41.7%(1.7%) C&I and O/O CRE Net Active Balance$3,367.16$3,428.60$3,658.73$3,939.28$4,148.52$4,471.15$4,973.23$502.08 Net Available Credit4,674.905,036.065,054.445,403.245,870.426,129.816,147.2017.39 Total Exposure8,042.068,464.678,713.179,342.5310,018.9410,600.9611,120.43519.47 % Funded41.9%40.5%42.0%42.2%41.4%42.2%44.7%2.5% Consumer Net Active Balance$1,571.21$1,511.32$1,597.98$1,597.06$1,608.47$1,589.27$1,850.23$260.96 Net Available Credit1,826.241,922.711,994.212,062.242,224.752,403.492,477.9974.50 Total Exposure3,397.453,434.033,592.193,659.303,833.223,992.764,328.22335.46 % Funded46.2%44.0%44.5%43.6%42.0%39.8%42.7%2.9% Totals Net Active Balance$9,045.19$8,991.67$9,178.25$9,577.07$9,484.18$10,156.82$11,213.08$1,056.26 Net Available Credit9,692.6110,422.0810,890.3411,623.6713,063.9413,881.0814,770.64889.56 Total Exposure18,737.8019,413.7520,068.5921,200.7422,548.1224,037.9025,983.721,945.82 % Funded48.3%46.3%45.7%45.2%42.1%42.3%43.2%0.9% 36 Total Allowance for Credit Losses for loans = $272.5 mm or 1.03% of loans atJune 30, 2022 (1)Calculation based on end of period loan balance (2)Net charge-off percentage calculation is annualized and in relation to avg. quarterly loan balances (3)For a reconciliation of this Non-GAAP financial measure to the comparable GAAP measure, see slide 59-60. •3 rd party economic forecast model provides significant inputs into ACL calculation •Unemployment and GDP are primary economic forecast metrics •Weighted average of Baseline (40%), Optimistic (30%) and Pessimistic (30%) scenarios used in 2Q 2022 Allowance for Credit Losses % of Loans Off-Balance Sheet Total AtJune 30, 2021$273,7471.20% (1) $23,219$296,966 Net Charge Offs($9,281) 0.16% (2) ($9,281) 3Q Provision$4,169 ($750)$3,419 AtSeptember 30, 2021$268,635 1.17% (1) $22,469$291,104 Net Charge Offs($8,077) 0.14% (2) ($8,077) 4Q Provision$2,675 -$2,675 AtDecember 31, 2021$263,233 1.12% (1) $22,469$285,702 Net Charge Offs($2,958) 0.05% (2) ($2,958) 1Q Provision$1,343 $500$1,843 AtMarch 31, 2022$261,618 1.07% (1) $22,969$284,587 Net Charge Offs($877) 0.01% (2) ($877) 2Q Provision$11,742 $1,000$12,742 AtJune 30, 2022$272,483 1.03% (1) $23,969$296,452 AtJune 30, 2022Excluding PPP Loans (3) 1.04% (1)(3) Forecasted economicmetrics (1) BaseCase Outlook at:3Q224Q221Q232Q23 US UnemploymentRates 1Q223.52%3.48%3.44%3.40% 2Q223.43%3.34%3.39%3.43% US Real GDP Change 1Q221.96%2.67%3.48%4.29% 2Q221.14%1.82%2.40%2.99% (1)Weighted metrics are used in PNFP CECL assessment. Unemployment rates are quarterly averages. US Real GDP rates are change in quarterly GDP from 4Q21. Current Expected Credit Losses 37 Current Expected Credit Losses Allowance for Credit Losses June 30, 2021 CECL September 30, 2021 CECL December 31, 2021 CECL March 31, 2022 CECL June 30, 2022 CECL Amount% of LoansAmount% of LoansAmount% of LoansAmount% of LoansAmount% of Loans Commercial and Industrial $102,1011.51%*$101,1461.43%*$112,3401.46%*$112,4121.37%*$125,7721.36%* Commercial Real Estate98,3921.20%93,2851.14%78,1220.94%75,5840.88%72,1560.79% Construction and Land Development 33,4871.20%32,8601.06%29,4291.01%29,8230.91%28,6810.85% Consumer Real Estate30,4450.91%31,0250.88%32,1040.87%32,3200.85%33,8830.84% Consumer and Other9,3222.12%10,0492.18%11,2382.31%11,4792.35%11,9912.40% Allowance for Loan Losses$ 273,7471.27%*$268,6351.20%*$263,2331.14%*$261,6181.07%*$272,4831.04%* Reserve for unfunded commitments23,21922,46922,46922,96923,969 Allowance for Credit Losses -Total$296,966$291,104$285,702$284,587$296,452 *: Reserve percentages for C&I and total loans exclude SBA PPP loans. For a reconciliation of this Non-GAAP financial measure to the comparable GAAP measure, see slide 59-60. 38 Asset Quality (*) Excludes past due loans rated substandard ($in millions)June 30, 2022 AS A % OF TOTALLOANS March 31, 2022 AS A % OF TOTALLOANS June 30, 2021 AS A % OF TOTALLOANS NPLs and > 90 days Const. and land development $4030.00%$3500.00%$1,0820.00% Consumer RE 9,7540.04%8,2770.03%17,4720.08% CRE –Owner Occupied 2,7560.01%3,1210.01%2,5030.01% CRE –Non-Owner Occupied 2,1840.01%1,4360.01%2,7110.01% Total real estate $15,0970.06%$13,1840.05%$23,7680.10% C&I 3,7040.01%14,6320.06%30,8340.13% Other4980.00%4050.00%3130.00% Total loans $19,2990.07%$28,2210.12%$54,9150.24% Classified loans and ORE Substandard commercial loans$91,5190.35%$117,2710.48%$202,9170.89% Doubtful commercial loans-0.00%-0.00%-0.00% Other impaired loans9,0030.03%9,7290.04%19,4590.08% 90 days past due and accruing (*)3,7120.01%1,6050.01%1,8100.01% Other real estate8,2370.03%8,2370.03%9,6020.04% Other repossessed assets-0.00%2000.00%-0.00% Total$112,4710.43%$137,0420.56%$233,7881.02% Pinnacle Bank classified asset ratio2.9%3.6%6.8% 39 Balance Sheet –Loan Portfolio 40 -0.10% 0.00% 0.10% 0.20% 0.30% 0.40% 0.50% 0.60% 0.70% 0.80% 0.90% 1.00% CREConstructionC&IConsumer REConsumer and other Total net charge off rates Net Loan Charge Offs by Loan Type 2019202020212022 Balance Sheet –Loan Portfolio –100/300 Test ($ in thousands) Description2Q221Q224Q213Q212Q211Q21 Loans secured by real estate: Construction, land development, and other loans: 1-4 family residentialconstruction loans$754,325$701,029$625,862$635,470$556,052$548,614 Other constructionloans and all land development and other land loans2,632,5412,576,0002,277,1552,461.4912,235,5592,020,355 Loans included in the 100% test$3,386,866$3,277,029$2,903,017$3,096,961$2,791,611$2,568,969 Securedby multifamily (5 or more) residential properties$968,717$744,498$627,803$664,599$739,788$798,120 Loans securedby other nonfarm nonresidential properties4,909,5984,707,7614,607,0484,597,7374,644,5514,782,712 Financed realestate not secured by real estate 436,674405,738452,283389,190490,637510,756 Loansincluded in the 300% test$9,701,855$9,135,026$8,590,150$8,748,487$8,666,587$8,660,556 Total Risk-Based Capital$3,877,155$3,748,002$3,670,111$3,466,596$3,483,255$3,382,393 %ofTotal Risk-Based Capital 100% Test –Constructionand LandDevelopment87%87%79%89%80%76% 300% Test –Construction and Land Development + NOOCRE + Multifamily250%244%234%252%249%256% 41 Balance Sheet –Deposit Portfolio –Market Segmentation ($ in millions) TOTAL DEPOSITSCORE DEPOSITSNONCORE DEPOSITS TOTAL PINNACLETRANSACTION AND MMDACDsPUBLIC FUNDS and OTHER DEPOSITS 2Q222Q212Q222Q212Q222Q212Q222Q21 Nashville$12,899.8$11,643.5$12,355.1$11,023.2 $358.8$425.0 $185.9$195.2 Knoxville2,446.02,415.2 2,344.02,295.3 65.681.2 36.438.7 Memphis2,240.81,699.0 2,046.91,455.6 96.8136.8 97.1106.6 Chattanooga1,883.21,659.3 1,770.21,562.6 55.338.5 57.758.3 Birmingham33.8-33.8----- Huntsville215.6-214.1-1.2-0.3- Total TN/AL$19,719.2$17,417.0 $18,764.1$16,336.7$577.7$681.5$377.4$398.8 Greensboro/Highpoint2,992.72,626.1 2,676.52,252.8 225.5239.8 90.6133.5 Charlotte1,955.21,775.7 1,781.11,552.7 125.5147.0 48.676.0 Charleston1,492.21,275.7 1,372.51,152.5 97.0100.6 22.722.6 Raleigh983.4913.0 936.6861.0 36.340.1 10.511.9 Roanoke966.1802.3 882.6706.7 66.379.7 17.215.9 Greenville458.8412.3 393.0336.8 46.357.9 19.517.6 Washington, D.C.6.1-6.1----- Total Carolinas / VA$8,854.5$7,805.1$8,048.4$6,862.5$596.9$665.1$209.1$277.5 Atlanta321.2126.2 316.2126.2 2.9-2.1- Specialty Lending 601.9379.5599.2373.51.21.81.44.3 Other3,098.52,489.7 1,094.5800.310.210.1 1,993.81,679.4 Total$32,595.3$28,217.5$28,822.4$24,499.2$1,188.9$1,358.5$2,583.8$2,360.0 Note: Percentages noted in red text represent year-over-year growth rates. 42 Balance Sheet –Bond Portfolio Statistics ●Investmentsto Total Assets of 16.3% 16.4% 1.9% 26.6% 5.1% 1.6% 48.3% Agency/TreasuryCorporatesMBSAsset BackedCMOsMunicipals Portfolio: June 30, 2022 Total Investments $6.6 billion Net Unrealized Gain (Loss) ($155.1) million QuarterDurationAvg. Yield-TE 2Q224.6%2.3% 1Q224.4%2.1% 4Q214.1%2.1% 3Q214.5%2.0% 2Q214.3%2.3% 1Q214.8%2.3% 4Q204.4%2.3% 3Q204.7%2.4% 2Q204.6%2.6% 1Q204.3%2.8% 43 Investment Securities Segmentation Note: See slide 62for peer group utilized in the above analysis. Source: S&P Global 75% 76%76% 77% 72% 25% 24% 24% 23% 28% Jun. 2021Sep. 2021Dec. 2021Mar. 2022Jun. 2022 Effective Bond Portfolio Composition End of Period Fixed RateVariable Rate Balance Sheet –Bond Portfolio 44 2.29 16.3 - 5.0 10.0 15.0 20.0 25.0 30.0 35.0 40.0 - 0.50 1.00 1.50 2.00 2.50 3.00 3.50 4.00 2017Q12017Q22017Q32017Q42018Q12018Q22018Q32018Q42019Q12019Q22019Q32019Q42020Q12020Q22020Q32020Q42021Q12021Q22021Q32021Q42022Q12022Q2 % of Total Assets Bond Yields PNFP - Bond YieldsPeer Median - Bond Yields PNFP - % of Total AssetsPeer Median - % of Total Assets Interest Rate Sensitivity ▪With substantially all floating rate loans above floors as of 6/30, the asset side of the balance sheet is positioned to react more favorably to additional Fed rate hikes. ▪The IRR sensitivity analysis assumes deposit betas based on the prior tightening cycle, which equates to approximately 55% for interest-bearing deposits and approximately 40% for total deposits. ▪Given current industry liquidity levels, we are optimistic we can outperform historical levels while still protecting relationship deposits. 45 Note: We believe our interest rate sensitivity modeling is consistent with regulatory requirements.Our interest rate sensitivity modeling incorporates a number ofbroad assumptions for earnings simulation, including loan and deposit re-pricing characteristics, the rate of loan prepayments, static balance sheet, etc. Management periodically reviews these assumptions for accuracy based on historical data and future expectations and may change assumptions over time based on better data sources, improved modeling techniques, regulatory changes, etc. Our ALCO policy requires that the base scenario assumes ALL rates remain flat for the prescribed time periods and is the scenario, including those above, to which all others are compared in order to measure the change in net interest income. Policy limits are applied to the results of certain modeling scenarios. While the primary policy scenarios focus is on a twelve-month time frame, including the information above, for the earnings simulations model, longer time horizons are also modeled but are not shown herein. -1.2% 0.2% 0.4% 0.7% 1.6% 1.5% -1.0% 1.9% 2.2% 2.8% 3.7% 3.2% -2.0% -1.0% 0.0% 1.0% 2.0% 3.0% 4.0% 1Q212Q213Q214Q211Q222Q22* Net Interest Income % D Rising Rate Ramp & Shock Scenarios Ramp +100bpShock +100bp *Most recent IRR sensitivity analysis completed as of 5/31/22 NIM Adjusted for PPP and Liquidity Impact –2Q22 Estimate PPP and Liquidity Build negatively impacted 2Q22 NIM by 0.12% (2) Yields computed on tax-exempt instruments on a tax equivalent basis and included $9.6 million of taxable equivalent income for the three months ended Jun. 30, 2022compared to $7.9 million for the three months ended Jun. 30, 2021. The tax-exempt benefit has been reduced by the projected impact of tax-exempt income that will be disallowed pursuant to IRS Regulations as of and for the then current period presented. (1) Average balances of nonperforming loans are included in the above amounts. (3) Net interest margin is the result of annualized net interest income calculated on a tax equivalent basis divided by average interest-earning assets for the period. Actual Avg Balances 2Q22 ProForma Adjustments Adjusted Avg Balances after PF EntriesInterest ProForma Adjustments Adjusted Interest after PF EntriesRates/ Yields ProForma Yield/ Rate Adj. Adj. Yield/ Rates after PF Entries Loans (1)(2) $ 25,398$ (85) a $ 25,313 $ 252.2 $ (4.1) a $ 248.14.07%19.56% a 4.02% Securities (2) Taxable3,421 3,421 12.712.71.49%1.49% Tax-exempt3,0263,026 19.9 19.93.19%3.19% Other1781781.11.12.51%2.51% Fed funds sold & Interest- bearing deposits2,659(2,062) b 597 6.5 $ (5.0) b 1.5 0.97%0.97% b 0.97% $ 34,682(2,147)$ 32,535 $ 292.4 $ (9.1)$ 283.3 3.49%3.61% Nonearning assets4,099 4,099 $ 38,781$ (2,147)$ 36,634 Total deposits and Interest- bearing liabilities33,224(2,147) a,b 31,077 27.8(1.8) a,b 26.00.34%0.34% a,b 0.34% Other liabilities241241 Stockholders' equity5,3165,316 $ 38,781$ (2,147)$ 36,634 Net Interest income$ 264.6 $ (7.3)$ 257.3 Net interest margin (3) 3.17%0.12%3.29% Pro Forma Adjustments a Average balances of PPP loans carried during 2Q22 at an average yield of 19.56%; assume funded from all funding sources. b Estimated average balances of excess liquidity carried during 2Q22 with average yield of 0.97%; assume funded from all funding sources. 46 NIM Adjusted for PPP and Liquidity Impact –1Q22 Estimate PPP and Liquidity Build negatively impacted 1Q22 NIM by 0.29% (2) Yields computed on tax-exempt instruments on a tax equivalent basis and included $8.5 million of taxable equivalent income for the three months ended Mar. 31, 2022compared to $7.3 million for the three months ended Mar. 31, 2021. The tax-exempt benefit has been reduced by the projected impact of tax-exempt income that will be disallowed pursuant to IRS Regulations as of and for the then current period presented. (1) Average balances of nonperforming loans are included in the above amounts. (3) Net interest margin is the result of annualized net interest income calculated on a tax equivalent basis divided by average interest-earning assets for the period. Actual Avg Balances 1Q22 ProForma Adjustments Adjusted Avg Balances after PF EntriesInterest ProForma Adjustments Adjusted Interest after PF EntriesRates/ Yields ProForma Yield/ Rate Adj. Adj. Yield/ Rates after PF Entries Loans (1)(2) $ 23,849$ (256) a $ 23,593 $ 227.0 $ (10.8) a $ 216.23.94%17.19% a 3.80% Securities (2) Taxable3,235 3,235 11.011.01.39%1.39% Tax-exempt2,9092,909 17.4 17.42.94%2.94% Other1701700.60.61.33%1.33% Fed funds sold & Interest- bearing deposits4,630 (4,273) b 357 2.5 $ (2.3) b 0.2 0.22%0.22% b 0.22% $ 34,792(4,529)$ 30,263 $ 258.6 $ (13.1)$ 245.4 3.11%3.40% Nonearning assets3,845 3,845 $ 38,637$ (4,529)$ 34,108 Total deposits and Interest- bearing liabilities33,049(4,529) a,b 28,520 19.1(2.6) a,b 16.50.23%0.23% a,b 0.23% Other liabilities257257 Stockholders' equity5,3315,331 $ 38,637$ (4,529)$ 34,108 Net Interest income$ 239.5 $ (10.6)$ 228.9 Net interest margin (3) 2.89%0.29%3.18% Pro Forma Adjustments a Average balances of PPP loans carried during 1Q22 at an average yield of 17.19%; assume funded from all funding sources. b Estimated average balances of excess liquidity carried during 1Q22 with average yield of 0.22%; assume funded from all funding sources. 47 NIM Adjusted for PPP and Liquidity Impact –4Q21 Estimate PPP and Liquidity Build negatively impacted 4Q21 NIM by 0.25% (2) Yields computed on tax-exempt instruments on a tax equivalent basis and included $10.1 million of taxable equivalent income for the three months ended Dec. 31, 2021compared to $8.4 million for the three months ended Dec. 31, 2020. The tax-exempt benefit has been reduced by the projected impact of tax-exempt income that will be disallowed pursuant to IRS Regulations as of and for the then current period presented. (1) Average balances of nonperforming loans are included in the above amounts. (3) Net interest margin is the result of annualized net interest income calculated on a tax equivalent basis divided by average interest-earning assets for the period. Actual Avg Balances 4Q21 ProForma Adjustments Adjusted Avg Balances after PF EntriesInterest ProForma Adjustments Adjusted Interest after PF EntriesRates/ Yields ProForma Yield/ Rate Adj. Adj. Yield/ Rates after PF Entries Loans (1)(2) $ 23,226$ (531) a $ 22,695 $ 230.0 $ (15.5) a $ 214.64.04%11.56% a 3.86% Securities (2) Taxable3,113 3,113 9.79.71.24%1.24% Tax-exempt2,7012,701 16.9 16.93.04%3.04% Other1681680.50.51.28%1.28% Fed funds sold & Interest- bearing deposits4,188 (3,843) b 345 2.0 $ (1.8) b 0.2 0.19%0.19% b 0.19% $ 33,395(4,374)$ 29,021 $ 259.2 $ (17.3)$ 241.9 3.20%3.44% Nonearning assets3,737 3,737 $ 37,132 $ (4,374)$ 32,758 Total deposits and Interest- bearing liabilities31,549(4,374) a,b 27,175 20.4(2.8) a,b 17.60.26%0.26% a,b 0.26% Other liabilities321321 Stockholders' equity5,2635,263 $ 37,132$ (4,374)$ 32,758 Net Interest income$ 238.8 $ (14.5)$ 224.3 Net interest margin (3) 2.96%0.25%3.20% Pro Forma Adjustments a Average balances of PPP loans carried during 4Q21 at an average yield of 11.56%; assume funded from all funding sources. b Estimated average balances of excess liquidity carried during 4Q21 with average yield of 0.19%; assume funded from all funding sources. 48 NIM Adjusted for PPP and Liquidity Impact –3Q21 Estimate PPP and Liquidity Build negatively impacted 3Q21 NIM by 0.17% (2) Yields computed on tax-exempt instruments on a tax equivalent basis and included $8.5 million of taxable equivalent income for the three months ended September 30, 2021compared to $7.3 million for the three months ended September 30, 2020. The tax-exempt benefit has been reduced by the projected impact of tax-exempt income that will be disallowed pursuant to IRS Regulations as of and for the then current period presented. (1) Average balances of nonperforming loans are included in the above amounts. (3) Net interest margin is the result of annualized net interest income calculated on a tax equivalent basis divided by average interest-earning assets for the period. Actual Avg Balances 3Q21 ProForma Adjustments Adjusted Avg Balances after PF EntriesInterest ProForma Adjustments Adjusted Interest after PF EntriesRates/ Yields ProForma Yield/ Rate Adj. Adj. Yield/ Rates after PF Entries Loans (1)(2) $ 22,987$ (984) a $ 22,003 $ 233.9 $ (21.2) a $ 212.74.13%8.54% a 3.93% Securities (2) Taxable2,868 2,868 9.09.01.24%1.24% Tax-exempt2,5832,583 15.9 15.92.93%2.93% Other1551550.50.51.38%1.38% Fed funds sold & Interest- bearing deposits3,588 (3,174) b 414 1.6 $ (1.5) b 0.1 0.18%0.18% b 0.13% $ 32,181(4,158)$ 28,023 $ 260.9 $ (22.7)$ 238.2 3.32%3.49% Nonearning assets3,715 3,715 $ 35,896 $ (4,158)$ 31,738 Total deposits and Interest- bearing liabilities30,379(4,158) a,b 26,221 23.3(3.2) a,b 20.10.30%0.30% a,b 0.30% Other liabilities340340 Stockholders' equity5,1775,177 $ 35,896$ (4,158)$ 31,738 Net Interest income$ 237.5 $ (19.5)$ 218.1 Net interest margin (3) 3.03%0.17%3.21% Pro Forma Adjustments a Average balances of PPP loans carried during 3Q21 at an average yield of 8.54%; assume funded from all funding sources. b Estimated average balances of excess liquidity carried during 3Q21 with average yield of 0.18%; assume funded from all funding sources. 49 NIM Adjusted for PPP and Liquidity Impact –2Q21 Estimate PPP and Liquidity Build negatively impacted 2Q21 NIM by 0.17% (2) Yields computed on tax-exempt instruments on a tax equivalent basis and included $7.9 million of taxable equivalent income for the three months ended June 30, 2021compared to $6.9 million for the three months ended June 30, 2020. The tax-exempt benefit has been reduced by the projected impact of tax-exempt income that will be disallowed pursuant to IRS Regulations as of and for the then current period presented. (1) Average balances of nonperforming loans are included in the above amounts. (3) Net interest margin is the result of annualized net interest income calculated on a tax equivalent basis divided by average interest-earning assets for the period. Actual Avg Balances 2Q21 ProForma Adjustments Adjusted Avg Balances after PF EntriesInterest ProForma Adjustments Adjusted Interest after PF EntriesRates/ Yields ProForma Yield/ Rate Adj. Adj. Yield/ Rates after PF Entries Loans (1)(2) $ 23,180$ (1,929) a $ 21,251 $ 232.8 $ (26.3) a $ 206.54.11%5.47% a 3.98% Securities (2) Taxable2,581 2,581 8.48.41.30%1.30% Tax-exempt2,4562,456 16.5 16.5 3.25%3.25% Other1571570.60.61.47%1.47% Fed funds sold & Interest- bearing deposits2,986 (2,574) b 412 1.0 $ (0.9) b 0.1 0.13%0.13% b 0.13% $ 31,360 (4,503)$ 26,857 $ 259.2 $ (27.2)$ 232.1 3.42%3.58% Nonearning assets3,694 3,694 $ 35,054 $ (4,503)$ 30,551 Total deposits and Interest- bearing liabilities29,749 (4,503) a,b 25,246 26.0 (3.9) a,b 22.10.35%0.35% a,b 0.35% Other liabilities265 265 Stockholders' equity5,0405,040 $ 35,054$ (4,503)$ 30,551 Net Interest income$ 233.2 $ (23.2)$ 210.0 Net interest margin (3) 3.08%0.17%3.25% Pro Forma Adjustments a Average balances of PPP loans carried during 2Q21 at an average yield of 5.47%; assume funded from all funding sources. b Estimated average balances of excess liquidity carried during 2Q21 with average yield of 0.14%; assume funded from all funding sources. 50 NIM Adjusted for PPP and Liquidity Impact –1Q21 Estimate PPP and Liquidity Build negatively impacted 1Q21 NIM by 0.27% (2) Yields computed on tax-exempt instruments on a tax equivalent basis and included $7.3 million of taxable equivalent income for the three months ended March 31, 2021compared to $7.0 million for the three months ended March 31, 2020. The tax-exempt benefit has been reduced by the projected impact of tax-exemptincome that will be disallowed pursuant to IRS Regulations as of and for the then current period presented. (1) Average balances of nonperforming loans are included in the above amounts. (3) Net interest margin is the result of annualized net interest income calculated on a tax equivalent basis divided by average interest-earning assets for the period. Actual Avg Balances 1Q21 ProForma Adjustments Adjusted Avg Balances after PF EntriesInterest ProForma Adjustments Adjusted Interest after PF EntriesRates/ Yields ProForma Yield/ Rate Adj. Adj. Yield/ Rates after PF Entries Loans (1)(2) $ 22,848$ (2,065) a $ 20,783 $ 227.4 $ (23.0) a $ 204.44.11%4.51% a 4.07% Securities (2) Taxable2,271 2,271 7.77.71.38%1.38% Tax-exempt2,3952,395 15.5 15.5 3.15%3.15% Other1601600.60.61.54%1.54% Fed funds sold & Interest- bearing deposits3,196 (2,752) b 445 0.7 $ (0.6) b 0.1 0.09%0.09% b 0.09% $ 30,871 (4,816)$ 26,054 $ 251.9 $ (23.6)$ 228.3 3.41%3.67% Nonearning assets3,789 3,789 $ 34,659 $ (4,816)$ 29,843 Total deposits and Interest- bearing liabilities29,373 (4,816) a,b 24,556 29.0 (4.8) a,b 24.30.40%0.40% a,b 0.40% Other liabilities332 332 Stockholders' equity4,954 4,954 $ 34,659 $ (4,816)$ 29,843 Net Interest income$ 222.9 $ (18.8)$ 204.0 Net interest margin (3) 3.02%0.27%3.29% Pro Forma Adjustments a Average balances of PPP loans carried during 1Q21 at an average yield of 4.51%; assume funded from all funding sources. b Estimated average balances of excess liquidity carried during 1Q21 with average yield of 0.09%; assume funded from all funding sources. 51 NIM Adjusted for PPP and Liquidity Impact –4Q20 Estimate PPP and Liquidity Build negatively impacted 4Q20 NIM by 0.29% (2) Yields computed on tax-exempt instruments on a tax equivalent basis and included $8.4 million of taxable equivalent income for the three months ended December 31, 2020compared to $8.1 million for the three months ended December 31, 2019. The tax-exempt benefit has been reduced by the projected impact of tax-exempt income that will be disallowed pursuant to IRS Regulations as of and for the then current period presented. (1) Average balances of nonperforming loans are included in the above amounts. (3) Net interest margin is the result of annualized net interest income calculated on a tax equivalent basis divided by average interest-earning assets for the period. Actual Avg Balances 4Q20 ProForma Adjustments Adjusted Avg Balances after PF EntriesInterest ProForma Adjustments Adjusted Interest after PF EntriesRates/ Yields ProForma Yield/ Rate Adj. Adj. Yield/ Rates after PF Entries Loans (1)(2) $ 22,525$ (2,110) a $ 20,414 $ 232.6 $ (24.6) a $ 208.0 4.20%4.64% a 4.16% Securities (2) Taxable2,236 2,236 7.57.5 1.34%1.34% Tax-exempt2,3322,332 15.4 15.4 3.16%3.16% Other1571570.60.61.52%1.52% Fed funds sold & Interest- bearing deposits3,464 (2,978) b 486 0.9 $ (0.8) b 0.1 0.10%0.11% b 0.09% $ 30,714 (5,088)$ 25,626 $ 257.0 $ (25.4)$ 231.6 3.44%3.60% Nonearning assets3,723 3,723 $ 34,437 $ (5,088)$ 29,348 Total deposits and Interest- bearing liabilities29,239 (5,088) a,b 24,150 36.1 (6.3) a,b 29.80.49%0.49% a,b 0.49% Other liabilities346 346 Stockholders' equity4,852 4,852 $ 34,437 $ (5,088)$ 29,348 Net Interest income$ 221.0 $ (19.1)$ 201.9 Net interest margin (3) 2.97%0.29%3.27% Pro Forma Adjustments a Average balances of PPP loans carried during 4Q20 at an average yield of 4.64%; assume funded from all funding sources. b Estimated average balances of excess liquidity carried during 4Q20 with average yield of 0.11%; assume funded from all funding sources. 52 NIM Adjusted for PPP and Liquidity Impact –3Q20 Estimate PPP and Liquidity Build negatively impacted 3Q20 NIM by 0.40% (2) Yields computed on tax-exempt instruments on a tax equivalent basis and included $7.3 million of taxable equivalent income for the three months ended Sept. 30, 2020compared to $7.5 million for the three months ended September 30, 2019. The tax-exempt benefit has been reduced by the projected impact of tax-exempt income that will be disallowed pursuant to IRS Regulations as of and for the then current period presented. (1) Average balances of nonperforming loans are included in the above amounts. (3) Net interest margin is the result of annualized net interest income calculated on a tax equivalent basis divided by average interest-earning assets for the period. Actual Avg Balances 3Q20 ProForma Adjustments Adjusted Avg Balances after PF EntriesInterest ProForma Adjustments Adjusted Interest after PF EntriesRates/ Yields ProForma Yield/ Rate Adj. Adj. Yield/ Rates after PF Entries Loans (1)(2) $ 22,493 $ (2,235) a $ 20,258 $ 224.5 $ (15.6) a $ 208.9 4.04%2.77% a 4.19% Securities (2) Taxable2,226 2,226 8.38.3 1.43%1.48% Tax-exempt2,194 2,194 15.0 15.0 3.37%3.29% Other1521520.60.61.62%1.62% Fed funds sold & Interest- bearing deposits3,127 (2,616) b 511 0.8 $ (0.7) b 0.1 0.10%0.10% b 0.10% $ 30,192 (4,851)$ 25,341 $ 249.2 $ (16.3)$ 232.9 3.38%3.79% Nonearning assets3,647 3,647 $ 33,839 $ (4,851)$ 28,988 Total deposits and Interest- bearing liabilities28,731 (4,851) a,b 23,880 42.6 (7.2) a,b 35.4 0.59%0.59% a,b 0.59% Other liabilities342 342 Stockholders' equity4,766 4,766 $ 33,839 $ (4,851)$ 28,988 Net Interest income$ 206.6 $ (9.0)$ 197.5 Net interest margin (3) 2.82%0.40%3.22% Pro Forma Adjustments a Average balances of PPP loans carried during 3Q20 at an average yield of 2.77%; assume funded from all funding sources. b Estimated average balances of excess liquidity carried during 3Q20 with average yield of 0.10%; assume funded from all funding sources. 53 NIM Adjusted for PPP and Liquidity Impact –2Q20 Estimate PPP and Liquidity Build negatively impacted 2Q20 NIM by 0.32% (2) Yields computed on tax-exempt instruments on a tax equivalent basis and included $6.9 million of taxable equivalent income for the three months ended June 30, 2020compared to $6.9 million for the three months ended June 30, 2019. The tax-exempt benefit has been reduced by the projected impact of tax-exempt income that will be disallowed pursuant to IRS Regulations as of and for the then current period presented. (1) Average balances of nonperforming loans are included in the above amounts. (3) Net interest margin is the result of annualized net interest income calculated on a tax equivalent basis divided by average interest-earning assets for the period. Actual Avg Balances 2Q20 ProForma Adjustments Adjusted Avg Balances after PF EntriesInterest ProForma Adjustments Adjusted Interest after PF EntriesRates/ Yields ProForma Yield/ Rate Adj. Adj. Yield/ Rates after PF Entries Loans (1)(2) $ 22,257 $ (1,689) a $ 20,568 $ 226.28 $ (12.12) a $ 214.16 4.16%2.89% a 4.27% Securities (2) Taxable2,157 2,157 9.59 9.59 1.79%1.79% Tax-exempt2,038 2,038 14.60 14.60 3.44%3.44% Fed funds sold2,619 (1,967) b 652 1.27 $ (0.42) b 0.85 0.20%0.09% b 0.29% $ 29,071 (3,656)$ 25,415 $ 251.74 $ (12.54)$ 239.20 3.58%3.89% Nonearning assets3,715 3,715 $ 32,786 $ (3,656)$ 29,130 Total Deposits and Interest Bearing Liabilities27,919 (3,656) a,b 24,263 51.08 (6.69) a,b 44.39 0.74%0.74% a,b 0.74% Other liabilities368 368 Stockholders' equity4,499 4,499 $ 32,786 $ (3,656)$ 29,130 Net Interest income$ 200.66 $ (5.86)$ 194.80 Net interest margin (3) 2.87%0.32%3.19% Pro Forma Adjustments a Average balances of PPP loans carried during 2Q20 at an average yield of 2.89%. Assume funded from all funding sources. b Estimated average balances of excess liquidity carried during 2Q20 with average yield of 0.09%. Assume funded from all funding sources. 54 Income Statement –Mortgage Volumes 1.00% 1.50% 2.00% 2.50% 3.00% 3.50% 4.00% 4.50% 5.00% $25,000 $100,000 $175,000 $250,000 $325,000 $400,000 $475,000 $550,000 $625,000 Purchase Money Refinance Gross fees as a % of loans originated 55 *: excluding gains and losses on sales of investment securities. For a reconciliation of these Non-GAAP financial measures to the comparable GAAP measures, see slides 59-60. Note: See slide 62 for peer group utilized in the above analysis. Peer group calculated by aggregating total peer revenues by total peer weighted avg. shares for each quarter. Source: S&P Global 56 $11.10 $11.43 $11.74 $12.13 $12.42 $12.92 $13.44 $13.54 $13.87 $14.05 $14.35 $15.07 $15.78 $16.51 $17.07 $17.50 $17.85 $18.62 8.8% 11.3% 11.9% 13.0% 11.9% 13.0% 14.5% 11.6% 11.6% 8.7% 6.8% 11.3% 13.8% 17.5% 19.0% 16.2% 13.1% 12.8% 7.3% 6.4% 6.7% 6.2% 4.6% 4.8% 4.3% 4.4% 5.8% 6.7% 6.6% 5.3% 6.5% 5.8% 3.4% 0.5% -0.3% -2.0% 0.0% 2.0% 4.0% 6.0% 8.0% 10.0% 12.0% 14.0% 16.0% 18.0% 20.0% $10.00 $11.00 $12.00 $13.00 $14.00 $15.00 $16.00 $17.00 $18.00 $19.00 $20.00 1Q182Q183Q184Q181Q192Q193Q194Q191Q202Q203Q204Q201Q212Q213Q214Q211Q222Q22 Y/Y Revenue per Share Growth Revenue per Share LTM Revenue Per Share Growth* vs. Peers PNFP LTM Revenue/Share*PNFP Y/Y GrowthPeer Median Y/Y Growth Income Statement –Revenue Per Share ($'s in thousands) 2018201920202021YTD 2Q22 PPNR Trends Net interest income $ 736,342$ 766,142$821,788$932,401$504,049 Noninterest income 200,850263,826317,840395,734228,998 Noninterest expense (452,867)(505,148)(564,455)(660,104)(378,699) PPNR before adjustments$ 484,325$ 524,820$575,173$668,031$354,348 Adjustments to PPNR Investment (gains) and losses$ 2,254$ 5,941($986)($759)61 Loss on sale of non-prime automobile portfolio-1,536--- ORE expense (benefit)7234,2288,555(712)191 Merger charges8,259---- FHLB restructuring charges--15,168-- Hedge termination charges--4,673-- Branch rationalization charges-3,189--- Adjusted PPNR $ 495,561$539,714$602,583$666,560$354,600 Adjusted PPNR growth rate*36.6%8.9%11.6%10.6%6.4% Net PPNR per share*$6.25$6.84$7.60$8.80$9.33 Adjustments to PPNR per share*$0.15$0.19$0.36$0.02$0.01 Adjusted Net PPNR per share*$6.40$ 7.03$7.96$8.78$9.34 PPNR/share growth rate13.5%9.8%13.2%10.3%6.4% Income Statement –PPNR $0 $100 $200 $300 $400 $500 $600 $700 20182019202020212Q22* Adjusted PPNR *: YTD Annualized 57 *: 2Q22 YTD Annualized BHG Financials Strong equity to support business model Source: BHG Internal Data, unaudited. •Record earnings in second consecutive quarter (2Q22) •Strong cash position provides increased liquidity 58 ($'s in thousands) At Jun 30, 2022 At Mar 31, 2022 At Jun 30, 2021 Cash and Cash Equivalents454,982 440,594 240,568 Loans Held for Investment2,533,138 2,338,317 1,334,049 Allowance for Loan Losses(75,772) (57,817) (33,730) Loans Held for Sale323,351 181,918 216,385 Premises and Equipment90,258 85,617 65,032 Other Assets139,422 117,753 59,843 Total Assets3,465,380$ 3,106,382$ 1,882,147$ Recourse Obligation234,945 207,954 267,066 Secured Borrowings2,101,578 1,837,361 1,141,196 Notes Payable462,898 464,087 30,949 Borrower Reimbursable Fee123,267 112,364 88,307 Other Liabilities57,961 85,109 45,638 2,980,649$ 2,706,875$ 1,573,156$ Equity (all Tangible)484,731 399,507 308,991 Total Liabilities & Stockholders Equity3,465,380$ 3,106,382$ 1,882,147$ Loan Liability at Other Banks4,719,341 4,315,842 4,017,575 Total Outstanding Loan Liability7,176,708 6,596,342 5,317,894 Soundness Statistics: Cash to Assets13.13%14.18%12.78% Equity to Assets13.99%12.86%16.42% Recourse Obligation to Loans at Other Banks4.98%4.82%6.65% Allowance to Loans Held for Investment2.99%2.47%2.53% Total Reserves against Total Outstanding4.33%4.03%5.66% Total Liabilities ($'s in thousands)2Q 20221Q 20222Q 2021 Interest Income98,089$ 83,244$ 44,022$ Interest Expense20,989 15,948 8,202 Provision for Loan Losses35,935 24,038 12,967 Net Interest Income After Provision for Loan Losses41,165 43,258 22,853 Gains on Loan Sales & Origination Fees189,982 148,040 127,471 Other Income9,876 7,328 7,491 Total Net Revenues241,023 198,626 157,816 Gross Revenues297,947 238,612 178,984 Salary and Benefits61,494 55,959 43,906 Marketing Expenses39,035 44,618 30,728 Portfolio Expenses7,999 6,863 4,560 Other Expenses25,288 21,359 16,269 Total Operating Expenses133,816 128,800 95,463 Net Earnings107,207$ 69,826$ 62,353$ Profitability Statistics Earnings to Gross Revenues35.98%29.26%34.84% Portfolio Mgmt Expense to Gross Revenues21.79%19.63%14.37% Operating Expenses to Gross Revenues44.91%53.98%53.34% Income Statement Reconciliation of Non-GAAP Financial Measures 59 Income Statement Reconciliation of Non-GAAP Financial Measures 60 Income Statement Reconciliation of Non-GAAP Financial Measures 61 2022 Peer Group 62 Institution NameTickerCity, State Pinnacle Financial Partners, Inc.PNFPNashville, TN Comerica Inc. CMADallas, TX First Horizon Corp. FHNMemphis, TN Zions Bancorp. NAZIONSalt Lake City, UT Synovus Financial Corp.SNVColumbus, GA Cullen/Frost Bankers, Inc.CFRSan Antonio, TX Wintrust Financial CorporationWTFCRosemont, IL Valley National BancorpVLYNew York, NY South State CorporationSSBWinter Haven, FL F.N.B. CorporationFNBPittsburgh, PA UMB Financial CorporationUMBFKansas City, MO Prosperity Bancshares, Inc.PBHouston, TX PacWest BancorpPACWBeverly Hills, CA Hancock Whitney CorporationHWCGulfport, MS Bank United Inc.BKUHouston, TX Commerce Bancshares, Inc.CBSHKansas City, MO Associated Banc-corpASBGreen Bay, WI Umpqua Holdings CorporationUMPQPortland, OR Cadence BankCADETupelo, MS United Bankshares Inc. UBSICharleston, WV Fulton Financial CorporationFULTLancaster, PA Bank OZKOZKLittle Rock, AR Simmons First National CorporationSFNCPine Bluff, AR Investor Call SECOND QUARTER 2022 M. TERRY TURNER, PRESIDENT AND CEO HAROLD R. CARPENTER, EVP AND CFO

. FOR IMMEDIATE RELEASE MEDIA CONTACT: Nikki Klemmer, 615-743-6132 FINANCIAL CONTACT: Harold Carpenter, 615-744-3742 WEBSITE: www.pnfp.com PNFP REPORTS DILUTED EARNINGS PER SHARE OF $0.68 FOR 1Q 2016 Excluding merger-related charges, diluted EPS was a record $0.71 for 1Q 2016 NASHVILLE, TN, April 18, 2016 – Pinnacle Financial Partners, Inc. (Nasdaq/NGS: PNFP) reported net income per diluted common share of $0.68 for the quarter ended March 31, 2016, compared to net income per diluted common share of $0.62 for the quarter ended March 31, 2015, an increase of 9.7 percent. Excluding pre-tax merger-related charges of $1.8 million for the three months ended March 31, 2016, net income per diluted common share was $0.71 for the three months ended March 31, 2016, or a 14.5 percent increase over the same period last year. “Several very significant events occurred during the first quarter of 2016,” said M. Terry Turner, Pinnacle’s president and chief executive officer. “First, in January, we announced our intent to merge with Avenue Financial Holdings (Avenue) later this year. The combination of our two franchises will further expand our penetration in Nashville, TN, which we believe is one of the strongest banking markets in the United States. Second, in early March, we closed on our previously announced acquisition of an additional 19 percent interest in Bankers Healthcare Group (BHG), bringing our total ownership to 49 percent. We believe our partnership with BHG has produced outstanding results for our shareholders, and we will continue to look for opportunities to grow revenues between the two firms. Third, in mid-March, we successfully completed the technology and brand integration of CapitalMark Bank & Trust in Chattanooga so that now we operate just one platform and brand in all of our markets.” GROWING THE CORE EARNINGS CAPACITY OF THE FIRM: Revenues (excluding securities gains and losses) for the quarter ended March 31, 2016 were a record $99.8 million, an increase of $1.7 million from the fourth quarter Page 2 of 2015. Revenues (excluding securities gains and losses) increased 43.0 percent over the same quarter last year. Loans at March 31, 2016 were a record $6.828 billion, an increase of $284.7 million from Dec. 31, 2015 and $2.183 billion from March 31, 2015, reflecting year-over-year growth of 47.0 percent. Included in first quarter loan growth was $169.2 million of purchased loans that were acquired in conjunction with a recent liftout of three commercial lenders in the Memphis market. Average balances of noninterest-bearing deposit accounts were $1.960 billion in the first quarter of 2016 and represented approximately 27.9 percent of total average deposit balances for the quarter. First quarter 2016 average noninterest-bearing deposits increased 46.0 percent over the same quarter last year. “Setting the $169.2 million loan purchase aside, organic net loan growth during the first quarter was $115.5 million, which represented more than twice the net loan growth in the same quarter last year,” Turner said. “We also continue to experience success in our recruiting efforts in our markets. During the first quarter, we recruited 14 revenue-producing associates from other firms, making the first quarter one of our most successful recruiting quarters in recent memory. Both our business development and recruiting pipelines remain strong and give me increased optimism that our firm remains the preferred bank for clients and bankers in our markets. Despite the incremental expenses associated with these investments in our future growth, we continue to outperform peer averages in terms of key profitability and productivity measures such as ROAA, ROTCE and the efficiency ratio.” FOCUSING ON PROFITABILITY:  The firm’s net interest margin was 3.78 percent for the quarter ended March 31, 2016, compared to 3.73 percent last quarter and 3.78 percent for the quarter ended March 31, 2015.  Return on average assets was 1.27 percent for the first quarter of 2016, compared to 1.24 percent for the fourth quarter of 2015 and 1.45 percent for the same quarter last year. Excluding merger-related charges, return on average assets was 1.32 percent for the first quarter of 2016 compared to 1.31 percent for the fourth quarter of 2015. Page 3  First quarter 2016 return on average tangible equity amounted to 15.04 percent, compared to 14.97 percent for the fourth quarter of 2015 and 15.56 percent for the same quarter last year. Excluding merger-related charges, return on average tangible equity amounted to 15.64 percent for the first quarter of 2016 compared to 15.81 percent for the fourth quarter of 2015. “We are pleased with the ongoing financial performance of our firm,” said Harold R. Carpenter, Pinnacle’s chief financial officer. “As expected, our first quarter net interest margin was supported by the positive impact of purchase accounting, so our net interest margin will likely see some dilution through the end of 2016 as purchase accounting becomes less impactful during the remainder of the year. Nevertheless, we continue to believe net interest income will grow consistently this year. As has been the case for a number of years, our ability to take market share should produce reliable and consistent growth in our bottom line results.” OTHER FIRST QUARTER 2016 HIGHLIGHTS: Revenue growth o Net interest income for the quarter ended March 31, 2016 increased to a record $73.9 million, compared to $71.5 million for the fourth quarter of 2015 and $51.3 million for the first quarter of 2015. o Noninterest income for the quarter ended March 31, 2016 decreased to $25.9 million, compared to $26.6 million for the fourth quarter of 2015 and $18.5 million for the same quarter last year.  Wealth management revenues, which include investment, trust and insurance services, were $5.6 million for the quarter ended March 31, 2016, compared to $5.1 million for the first quarter of 2015 and $5.4 million for the quarter ended Dec. 31, 2015, resulting in a year-over-year growth rate of 10.8 percent.  Income from the firm’s investment in BHG was $5.2 million for the quarter ended March 31, 2016, compared to $7.8 million for the quarter ended Dec. 31, 2015 and $3.2 million for the same quarter last year. The firm’s investment in BHG contributed slightly less than $0.06 in diluted Page 4 earnings per share in the first quarter of 2016, compared to $0.11 in the fourth quarter of 2015 and $0.05 for the same quarter last year. “BHG’s contribution was less in the first quarter of 2016 compared to the fourth quarter of 2015 primarily due to seasonal fluctuations, but their pipelines have rebuilt and appear to be on track for another record year of growth,” Carpenter said. “We also believe our loan growth will continue at a low-double digit rate this year which, in turn, will be the principal driver of our revenue growth in 2016.” Noninterest expense o Noninterest expense for the quarter ended March 31, 2016 was $54.1 million, compared to $52.2 million in the fourth quarter of 2015 and $36.8 million in the same quarter last year.  Salaries and employee benefits were $32.5 million in the first quarter of 2016, compared to $30.9 million in the fourth quarter of 2015 and $23.5 million in the same quarter last year, primarily due to annual merit increases, payroll tax resets and increased headcount. Incentive costs associated with the firm’s annual cash incentive plan amounted to $3.2 million in the first quarter of 2016, compared to $3.8 million in the first quarter of 2015 and $3.9 million in the fourth quarter of 2015.  Merger-related expenses were approximately $1.8 million during the quarter ended March 31, 2016. The firm will continue to incur additional merger-related expenses to complete the CapitalMark integration and our planned merger with Avenue later this year.  The efficiency ratio for the first quarter of 2016 increased to 54.2 percent from 53.2 percent in the fourth quarter of 2015, and the ratio of noninterest expenses, including merger-related charges, to average assets increased to 2.46 percent from 2.42 in the fourth quarter of 2015. Excluding merger-related charges, ORE expense and FHLB prepayment charges, the efficiency ratio for the first quarter of 2016 increased from 50.6 percent to 52.2 percent, and the ratio of noninterest Page 5 expenses to average assets increased from 2.30 percent to 2.37 percent.  The firm’s headcount increased to 1,075.0 FTE’s at March 31, 2016, up from 1,058.5 FTE’s at year end 2015. “As we review our quarterly expense run rates going into the remainder of 2016, our expenses will likely increase as additional new hires are fully absorbed into our firm,” Carpenter said. “Offsetting a portion of these increases will be the expense reductions from the final implementation of the CapitalMark integration, which we will begin to realize during the second quarter of 2016. We are also looking forward to the eventual integration of Avenue into our firm and the opportunities it provides us to increase operating leverage during 2016 and 2017.” Asset quality o Nonperforming assets increased to 0.70 percent of total loans and ORE at March 31, 2016, compared to 0.55 percent at Dec. 31, 2015 and 0.58 percent at March 31, 2015. Nonperforming assets increased to $47.9 million at March 31, 2016, compared to $36.3 million at Dec. 31, 2015 and $26.8 million at March 31, 2015. o The allowance for loan losses represented 0.91 percent of total loans at March 31, 2016, compared to 1.00 percent at Dec. 31, 2015 and 1.43 percent at March 31, 2015.  The ratio of the allowance for loan losses to nonperforming loans was 146.4 percent at March 31, 2016, compared to 222.9 percent at Dec. 31, 2015 and 391.6 percent at March 31, 2015.  Net charge-offs were $7.1 million for the quarter ended March 31, 2016, compared to $3.8 million for the fourth quarter of 2015 and $1.4 million for the quarter ended March 31, 2015. Annualized net charge-offs as a percentage of average loans for the quarter ended March 31, 2016 were 0.43 percent, compared to 0.13 percent for the quarter ended March 31, 2015. Page 6  Provision for loan losses decreased to $3.9 million in the first quarter of 2016 from $5.5 million in the fourth quarter of 2015 and increased from $315,000 in the first quarter of 2015. “Over the last several quarters, we have been actively reviewing our relatively small consumer auto portfolio,” Turner said. “This review resulted in a larger than normal charge-off against previously established reserves for these assets during the first quarter of 2016. Excluding these loans, our loan book with over $6 billion in loans continues to perform very well from a soundness perspective.” WEBCAST AND CONFERENCE CALL INFORMATION Pinnacle will host a webcast and conference call at 8:30 a.m. (CDT) on April 19, 2016 to discuss first quarter 2016 results and other matters. To access the call for audio only, please call 1-877-602-7944. For the presentation and streaming audio, please access the webcast on the investor relations page of Pinnacle's website at www.pnfp.com. For those unable to participate in the webcast, it will be archived on the investor relations page of Pinnacle's website at www.pnfp.com for 90 days following the presentation. Pinnacle Financial Partners provides a full range of banking, investment, trust, mortgage and insurance products and services designed for businesses and their owners and individuals interested in a comprehensive relationship with their financial institution. The American Banker recognized Pinnacle as the third best bank to work for in the country in 2015. The firm began operations in a single downtown Nashville location in October 2000 and has since grown to approximately $9.3 billion in assets at March 31, 2016. As the second-largest bank holding company headquartered in Tennessee, Pinnacle operates in the state’s four largest markets, Nashville, Memphis, Knoxville and Chattanooga, as well as several surrounding counties. Additional information concerning Pinnacle, which is included in the NASDAQ Financial-100 Index, can be accessed at www.pnfp.com. ### Page 7 FORWARD-LOOKING STATEMENTS Certain of the statements in this release may constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The words "expect," "anticipate," "goal," "objective," "intend," "plan," "believe," "should," "hope," "pursue," "seek," "estimate" and similar expressions are intended to identify such forward-looking statements, but other statements not based on historical information may also be considered forward-looking. All forward-looking statements are subject to risks, uncertainties and other factors that may cause the actual results, performance or achievements of Pinnacle Financial to differ materially from any results expressed or implied by such forward-looking statements. Such risks include, without limitation, (i) deterioration in the financial condition of borrowers resulting in significant increases in loan losses and provisions for those losses; (ii) continuation of the historically low short-term interest rate environment; (iii) the inability of Pinnacle Financial, or entities in which it has significant investments, like BHG, to maintain the historical growth rate of its, or such entities', loan portfolio; (iv) changes in loan underwriting, credit review or loss reserve policies associated with economic conditions, examination conclusions, or regulatory developments; (v) effectiveness of Pinnacle Financial's asset management activities in improving, resolving or liquidating lower-quality assets; (vi) increased competition with other financial institutions; (vii) greater than anticipated adverse conditions in the national or local economies including the Nashville-Davidson-Murfreesboro- Franklin MSA, the Knoxville MSA, the Chattanooga, TN-GA MSA and the Memphis, TN-MS-AR MSA, particularly in commercial and residential real estate markets; (viii) rapid fluctuations or unanticipated changes in interest rates on loans or deposits; (ix) the results of regulatory examinations; (x) the ability to retain large, uninsured deposits; (xi) a merger or acquisition like our proposed merger with Avenue Financial Holdings, Inc. (Avenue); (xii) risks of expansion into new geographic or product markets; (xiii) any matter that would cause Pinnacle Financial to conclude that there was impairment of any asset, including intangible assets; (xiv) reduced ability to attract additional financial advisors (or failure of such advisors to cause their clients to switch to Pinnacle Financial), to retain financial advisors (including those at Avenue) or otherwise to attract customers from other financial institutions; (xv) further deterioration in the valuation of other real estate owned and increased expenses associated therewith; (xvi) inability to comply with regulatory capital requirements, including those resulting from changes to capital calculation methodologies and required capital maintenance levels; (xvii) risks associated with litigation, including the applicability of insurance coverage; (xviii) the risk that the cost savings and any revenue synergies from the mergers with Avenue, CapitalMark Bank & Trust (CapitalMark) and Magna Bank (Magna) may not be realized or take longer than anticipated to be realized; (xix) disruption from the Avenue merger with customers, suppliers or employee relationships; (xx) the occurrence of any event, change or other circumstances that could give rise to the termination of the Avenue merger agreement; (xxi) the risk of successful integration of Avenue's, CapitalMark's and Magna's business with ours; (xxii) the failure of Avenue's shareholders to approve the Avenue merger; (xxiii) the amount of the costs, fees, expenses and charges related to the Avenue merger; (xxiv) the ability to obtain required government approvals of the proposed terms of the Avenue merger; (xxv) risk of adverse reaction of Pinnacle Financial's and Avenue's customers to the Avenue merger; (xxvi) the failure of the closing conditions of the Avenue merger to be satisfied; (xxvii) the risk that the integration of Avenue's, CapitalMark's and Magna's operations with Pinnacle Financial's will be materially delayed or will be more costly or difficult than expected; (xxviii) the possibility that the Avenue merger may be more expensive to complete than anticipated, including as a result of unexpected factors or events; (xxix) the dilution caused by Pinnacle Financial's issuance of additional shares of its common stock in the Avenue merger; (xxx) approval of the declaration of any dividend by Pinnacle Financial's board of directors; (xxxi) the vulnerability of our network and online banking portals to unauthorized access, computer viruses, phishing schemes, spam attacks, human error, natural disasters, power loss and other security breaches; (xxxii) the possibility of increased compliance costs as a result of increased regulatory oversight, including oversight of companies in which Pinnacle Financial has significant investments, and the development of additional banking products for our corporate and consumer clients; (xxxiii) the risks associated with our being a minority investor in BHG, including the risk that the owners of a majority of the membership interests in BHG decide to sell the company if not prohibited from doing so by the terms of our agreement with them; (xxxiv) the incremental cost and/or decreased revenues associated with exceeding $10 billion in assets will exceed current estimates; and (xxxv) changes in state and federal legislation, regulations or policies applicable to banks and other financial service providers, including regulatory or legislative developments . A more detailed description of these and other risks is contained in "Item 1A. Risk Factors" below. Many of such factors are beyond Pinnacle Financial's ability to control or predict, and readers are cautioned not to put undue reliance on such forward-looking statements. Pinnacle Financial disclaims any obligation to update or revise any forward-looking statements contained in this release, whether as a result of new information, future events or otherwise. Additional Information and Where to Find It In connection with the Avenue merger, Pinnacle Financial has filed a registration statement on Form S-4 with the Securities and Exchange Commission (the SEC) to register the shares of Pinnacle’s common stock that will be issued to the shareholders of Avenue in connection with the Avenue merger. The registration statement includes a proxy statement/prospectus (that will be delivered to Avenue’s shareholders in connection with their required approval of the Avenue merger) and other relevant materials in connection with the Avenue merger. INVESTORS AND SECURITY HOLDERS ARE ENCOURAGED TO READ THE PROXY STATEMENT/PROSPECTUS WHEN IT BECOMES AVAILABLE AND ANY OTHER RELEVANT DOCUMENTS TO BE FILED WITH THE SEC IN CONNECTION WITH THE AVENUE MERGER BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT PINNACLE, AVENUE AND THE AVENUE MERGER. Investors and security holders may obtain free copies of these documents once they are available through the website maintained by the SEC at http://www.sec.gov. Free copies of the proxy statement/prospectus also may be obtained by directing a request by telephone or mail to Pinnacle Financial Partners, Inc., 150 3rd Avenue South, Suite 980, Nashville, TN 37201, Attention: Investor Relations (615) 744-3742 or Avenue Financial Holdings, Inc., 111 10th Avenue South, Suite 400, Nashville, TN 37203, Attention: Investor Relations (615) 252-2265. This communication shall not constitute an offer to sell or the solicitation of an offer to buy securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. Pinnacle and Avenue, and certain of their respective directors, executive officers and other members of management and employees may be deemed to be participants in the solicitation of proxies from the shareholders of Avenue in respect of the Avenue merger. Certain information about the directors and executive officers of Pinnacle is set forth in its Annual Report on Form 10-K for the year ended December 31, 2015, which was filed with the SEC on February 29, 2016 and its proxy statement for its 2016 annual meeting of shareholders, which was filed with the SEC on March 10, 2016, and its Current Report on Form 8-K which was filed with the SEC on April 1, 2016. Certain information about the directors and executive officers of Avenue is set forth in its Annual Report on Form 10-K for the year ended December 31, 2015, which was Page 8 filed with the SEC on March 29, 2016. Other information regarding the participants in the proxy solicitations and a description of their direct and indirect interests, by security holdings or otherwise, will be included in the proxy statement/prospectus and other relevant documents filed with the SEC when they become available. March 31, 2016December 31, 2015March 31, 2015 ASSETS Cash and noninterest-bearing due from banks77,778,562$ 75,078,807$ 61,498,151$ Interest-bearing due from banks304,031,806 219,202,464 227,823,492 Federal funds sold and other 767,305 26,670,062 4,455,077 Cash and cash equivalents382,577,673 320,951,333 293,776,720 Securities available-for-sale, at fair value 1,017,329,867 935,064,745 769,018,224 Securities held-to-maturity (fair value of $31,521,474, $31,585,303 and $39,407,835, at March 31, 2016, December 31, 2015 and March 31, 2015, respectively)31,089,333 31,376,840 39,275,846 Residential mortgage loans held-for-sale35,437,491 47,930,253 18,909,910 Commercial loans held-for-sale10,504,481 - 7,934,778 Loans6,827,929,582 6,543,235,381 4,645,272,317 Less allowance for loan losses (62,239,279) (65,432,354) (66,241,583) Loans, net6,765,690,303 6,477,803,027 4,579,030,734 Premises and equipment, net78,771,705 77,923,607 71,281,505 Equity method investment203,007,435 88,880,014 78,626,832 Accrued interest receivables25,168,584 21,574,096 18,262,956 Goodwill431,840,600 432,232,255 243,442,869 Core deposit and other intangible assets9,667,282 10,540,497 2,665,659 Other real estate owned4,687,379 5,083,218 8,441,288 Other assets 266,572,475 266,054,295 183,679,047 Total assets 9,262,344,608$ 8,715,414,180$ 6,314,346,368$ LIABILITIES AND STOCKHOLDERS' EQUITY Deposits: Noninterest-bearing 2,026,550,350$ 1,889,865,113$ 1,424,971,154$ Interest-bearing 1,427,213,569 1,389,548,175 1,065,900,049 Savings and money market accounts2,958,363,723 3,001,950,725 1,878,270,087 Time 668,084,583 690,049,795 420,168,133 Total deposits7,080,212,225 6,971,413,808 4,789,309,423 Securities sold under agreements to repurchase62,801,494 79,084,298 68,053,123 Federal Home Loan Bank advances616,289,980 300,305,226 455,443,811 Subordinated debt and other borrowings210,708,217 142,476,000 135,533,292 Accrued interest payable2,540,401 2,593,209 632,021 Other liabilities 61,012,450 63,930,339 41,224,052 Total liabilities8,033,564,767 7,559,802,880 5,490,195,722 Stockholders’ equity: Preferred stock, no par value; 10,000,000 shares authorized; no shares issued and outstanding- - - Common stock, par value $1.00; 90,000,000 shares authorized; 41,994,955 shares, 40,906,064 shares, and 35,864,667 shares issued and outstanding at March 31, 2016, December 31, 2015 and March 31, 2015, respectively41,994,955 40,906,064 35,864,667 Additional paid-in capital884,015,506 839,617,050 563,831,066 Retained earnings300,746,837 278,573,408 218,909,667 Accumulated other comprehensive (loss) income, net of taxes 2,022,543 (3,485,222) 5,545,246 Stockholders’ equity 1,228,779,841 1,155,611,300 824,150,646 Total liabilities and stockholders’ equity 9,262,344,608$ 8,715,414,180$ 6,314,346,368$ This information is preliminary and based on company data available at the time of the presentation. CONSOLIDATED BALANCE SHEETS – UNAUDITED PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES Page 2 March 31, December 31,March 31, 201620152015 Interest income: Loans, including fees74,404,204$ 71,601,444$ 49,466,706$ Securities Taxable4,466,834 4,201,602 3,444,599 Tax-exempt1,493,757 1,482,703 1,483,307 Federal funds sold and other609,587 510,776 283,978 Total interest income80,974,382 77,796,525 54,678,590 Interest expense: Deposits4,915,563 4,599,159 2,430,742 Securities sold under agreements to repurchase48,050 38,622 30,917 Federal Home Loan Bank advances and other borrowings2,108,092 1,683,994 948,552 Total interest expense7,071,705 6,321,775 3,410,211 Net interest income73,902,677 71,474,750 51,268,379 Provision for loan losses3,893,570 5,459,353 315,091 Net interest income after provision for loan losses70,009,107 66,015,397 50,953,288 Noninterest income: Service charges on deposit accounts 3,442,684 3,499,480 2,912,549 Investment services2,345,600 2,786,839 2,259,440 Insurance sales commissions1,705,859 1,102,747 1,512,618 Gains on mortgage loans sold, net3,567,551 2,180,864 1,941,254 Investment gains (losses) on sales, net- (9,954) 6,003 Trust fees1,580,612 1,481,818 1,311,985 Income from equity method investment5,147,524 7,839,028 3,201,302 Other noninterest income8,065,880 7,726,952 5,348,151 Total noninterest income25,855,710 26,607,774 18,493,302 Noninterest expense: Salaries and employee benefits32,516,856 30,877,853 23,530,860 Equipment and occupancy8,130,464 8,384,525 6,046,223 Other real estate, net112,272 99,394 395,288 Marketing and other business development1,263,361 1,465,122 959,750 Postage and supplies957,087 1,052,427 649,251 Amortization of intangibles873,215 916,581 227,414 Merger related expenses1,829,472 2,489,396 - Other noninterest expense8,380,969 6,906,131 5,022,236 Total noninterest expense54,063,696 52,191,429 36,831,022 Income before income taxes41,801,121 40,431,742 32,615,568 Income tax expense 13,835,857 13,577,634 10,772,857 Net income 27,965,264$ 26,854,108$ 21,842,711$ Per share information: Basic net income per common share $ 0.70 $ 0.67 $ 0.62 Diluted net income per common share $ 0.68 $ 0.65 $ 0.62 Weighted average shares outstanding: Basic 40,082,80540,000,10235,041,203 Diluted 40,847,02741,015,15435,380,529 This information is preliminary and based on company data available at the time of the presentation. Three Months Ended PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF INCOME – UNAUDITED December SeptemberJuneMarchDecember 20152015201520152014 Balance sheet data, at quarter end: Commercial real estate - mortgage loans$2,340,720 2,275,483 2,192,151 1,671,729 1,560,683 1,544,091 Consumer real estate - mortgage loans1,042,369 1,046,517 1,044,276 740,641 723,907 721,158 Construction and land development loans764,079 747,697 674,926 372,004 324,462 322,466 Commercial and industrial loans2,434,656 2,228,542 2,178,535 1,819,600 1,810,818 1,784,729 Consumer and other246,106 244,996 246,101 226,380 225,402 217,583 Total loans6,827,930 6,543,235 6,335,989 4,830,354 4,645,272 4,590,027 Allowance for loan losses(62,239) (65,432) (63,758) (65,572) (66,242) (67,359) Securities1,048,419 966,442 1,003,994 840,136 808,294 770,730 Total assets9,262,345 8,715,414 8,544,799 6,516,544 6,314,346 6,018,248 Noninterest-bearing deposits2,026,550 1,889,865 1,876,910 1,473,086 1,424,971 1,321,053 Total deposits7,080,212 6,971,414 6,600,679 4,993,611 4,789,309 4,782,605 Securities sold under agreements to repurchase62,801 79,084 68,077 61,549 68,053 93,995 FHLB advances 616,290 300,305 545,330 445,345 455,444 195,476 Subordinated debt and other borrowings210,708 142,476 142,476 133,908 135,533 96,158 Total stockholders’ equity1,228,780 1,155,611 1,134,226 841,390 824,151 802,693 Balance sheet data, quarterly averages: Total loans$6,742,054 6,457,870 5,690,246 4,736,818 4,624,952 4,436,411 Securities993,675 1,002,291 925,506 836,425 788,550 760,328 Total earning assets8,018,596 7,759,053 6,844,784 5,764,514 5,581,508 5,382,479 Total assets8,851,978 8,565,341 7,514,633 6,319,712 6,102,523 5,855,421 Noninterest-bearing deposits1,960,083 1,948,703 1,689,599 1,437,276 1,342,603 1,373,745 Total deposits7,037,014 6,786,931 5,898,369 4,884,506 4,791,944 4,758,402 Securities sold under agreements to repurchase69,129 72,854 71,329 61,355 66,505 82,970 FHLB advances 383,131 376,512 393,825 388,963 290,016 95,221 Subordinated debt and other borrowings162,575 142,660 147,619 135,884 121,033 96,722 Total stockholders’ equity1,188,153 1,153,681 986,325 836,791 815,706 796,338 Statement of operations data, for the three months ended: Interest income$80,974 77,797 67,192 55,503 54,679 53,533 Interest expense7,072 6,322 5,133 3,672 3,410 3,220 Net interest income73,902 71,475 62,059 51,831 51,269 50,313 Provision for loan losses3,894 5,459 2,228 1,186 315 2,041 Net interest income after provision for loan losses70,008 66,016 59,831 50,645 50,954 48,272 Noninterest income25,856 26,608 21,410 20,019 18,493 14,384 Noninterest expense54,064 52,191 45,107 36,747 36,830 34,391 Income before taxes41,800 40,433 36,134 33,917 32,617 28,264 Income tax expense 13,836 13,578 11,985 11,252 10,774 9,527 Net income $27,965 26,855 24,149 22,665 21,843 18,737 Profitability and other ratios: Return on avg. assets (1)1.27%1.24%1.27%1.44%1.45%1.27% Return on avg. equity (1)9.47%9.24%9.71%10.86%10.86%9.33% Return on avg. tangible common equity (1)15.04%14.97%14.49%15.39%15.56%13.52% Dividend payout ratio (18)21.62%18.97%19.92%20.78%22.22%16.67% Net interest margin (1) (2)3.78%3.73%3.66%3.65%3.78%3.76% Noninterest income to total revenue (3)25.92%27.13%25.65%27.86%26.51%22.23% Noninterest income to avg. assets (1)1.17%1.23%1.13%1.27%1.23%0.97% Noninterest exp. to avg. assets (1)2.46%2.42%2.38%2.33% 2.45%2.33% Noninterest expense (excluding ORE, FHLB prepayment charges, and merger related expense) to avg. assets (1)2.37%2.30%2.30%2.31%2.42%2.37% Efficiency ratio (4)54.20%53.21%54.04%51.14%52.79%53.16% Avg. loans to average deposits95.81%95.15%96.47%96.98%96.52%93.23% Securities to total assets11.32%11.10%11.75%12.89%12.80%12.81% This information is preliminary and based on company data available at the time of the presentation. (dollars in thousands) PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES SELECTED QUARTERLY FINANCIAL DATA – UNAUDITED March 2016 Average Balances Interest Rates/ Yields Average Balances Interest Rates/ Yields Interest-earning assets Loans (1) 6,742,054$ 74,404$ 4.49%4,624,952$ 49,467$ 4.35% Securities Taxable810,913 4,467 2.22%625,883 3,445 2.23% Tax-exempt (2) 182,762 1,494 4.40%162,667 1,483 4.94% Federal funds sold and other 282,867 609 0.87%168,006 284 0.81% Total interest-earning assets8,018,596 80,974$ 4.09% 5,581,508 54,679$ 4.02% Nonearning assets Intangible assets440,466 246,314 Other nonearning assets392,916 274,701 Total assets8,851,978$ 6,102,523$ Interest-bearing liabilities Interest-bearing deposits: Interest checking1,404,963$ 932$ 0.27%1,029,707$ 473$ 0.19% Savings and money market2,997,586 2,952 0.40%1,996,016 1,410 0.29% Time674,382 1,031 0.61%423,618 548 0.52% Total interest-bearing deposits5,076,931 4,915 0.39%3,449,341 2,431 0.29% Securities sold under agreements to repurchase69,129 48 0.28%66,505 31 0.19% Federal Home Loan Bank advances 383,131 536 0.56%290,016 220 0.31% Subordinated debt and other borrowings162,575 1,573 3.89%121,033 728 2.44% Total interest-bearing liabilities5,691,766 7,072 0.50%3,926,895 3,410 0.35% Noninterest-bearing deposits1,960,083 - - 1,342,603 - - Total deposits and interest-bearing liabilities 7,651,849 7,072$ 0.37%5,269,498 3,410$ 0.26% Other liabilities11,976 17,319 Stockholders' equity 1,188,153 815,706 Total liabilities and stockholders' equity8,851,978$ 6,102,523$ Net interest income 73,902$ 51,269$ Net interest spread (3) 3.59%3.67% Net interest margin (4) 3.78%3.78% (1) Average balances of nonperforming loans are included in the above amounts. (2) Yields computed on tax-exempt instruments on a tax equivalent basis. This information is preliminary and based on company data available at the time of the presentation. (4) Net interest margin is the result of annualized net interest income calculated on a tax equivalent basis divided by average interest-earning assets for the period. (3) Yields realized on interest-bearing assets less the rates paid on interest-bearing liabilities. The net interest spread calculation excludes the impact of demand deposits. Had the impact of demand deposits been included, the net interest spread for the quarter ended March 31, 2016 would have been 3.72% compared to a net interest spread of 3.76% for the quarter ended March 31, 2015. PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES ANALYSIS OF INTEREST INCOME AND EXPENSE, RATES AND YIELDS-UNAUDITED (dollars in thousands) Three months ended March 31, 2016 Three months ended March 31, 2015 DecemberSeptemberJuneMarchDecember 201520152015 20152014 Asset quality information and ratios: Nonperforming assets: Nonaccrual loans$42,524 29,359 30,049 17,550 16,915 16,705 Other real estate (ORE) and other non-performing assets (NPAs)5,338 6,990 5,794 8,239 9,927 11,873 Total nonperforming assets $47,862 36,349 35,843 25,789 26,842 28,578 Past due loans over 90 days and still accruing interest$4,556 1,768 3,798 483 1,609 322 Troubled debt restructurings (5)$9,950 8,088 8,373 8,703 8,726 8,410 Net loan charge-offs$7,087 3,785 4,041 1,856 1,432 842 Allowance for loan losses to nonaccrual loans146.4%222.9%212.2%373.6%391.6%403.2% As a percentage of total loans: Past due accruing loans over 30 days 0.32%0.31%0.31%0.38%0.34%0.40% Potential problem loans (6)1.65%1.61%1.44%1.86%1.97%1.81% Allowance for loan losses0.91%1.00%1.01%1.36%1.43%1.47% Nonperforming assets to total loans, ORE and other NPAs0.70%0.55%0.57%0.53%0.58%0.62% Nonperforming assets to total assets0.52%0.42%0.41%0.37%0.40%0.46% Classified asset ratio (Pinnacle Bank) (8) 24.2%18.7%17.1%19.0%20.3%18.1% Annualized net loan charge-offs year-to-date to avg. loans (7)0.43%0.21%0.20%0.14%0.13%0.10% Wtd. avg. commercial loan internal risk ratings (6) 4.5 4.5 4.5 4.5 4.5 4.4 Interest rates and yields: Loans4.49%4.46%4.33%4.27%4.35%4.34% Securities2.62%2.45%2.51%2.56%2.79%2.81% Total earning assets4.09%4.01%3.93%3.91%4.02%4.00% Total deposits, including non-interest bearing0.28%0.27%0.24%0.21%0.21%0.20% Securities sold under agreements to repurchase0.28%0.21%0.22%0.19%0.19%0.19% FHLB advances 0.56%0.42%0.33%0.23%0.31%0.56% Subordinated debt and other borrowings3.89%3.57%3.16%2.44%2.44%2.48% Total deposits and interest-bearing liabilities0.37%0.34%0.31%0.27%0.26%0.25% Pinnacle Financial Partners capital ratios (8): Stockholders’ equity to total assets13.3%13.3%13.3%12.9%13.1%13.3% Common equity Tier one capital 7.8%8.6%8.7%9.4%9.4%10.6% Tier one risk-based8.7%9.6%9.8%10.8%10.8%12.1% Total risk-based11.0%11.3%11.4%12.0%12.0%13.4% Leverage 8.8%9.4%10.0%10.5%10.4%11.3% Tangible common equity to tangible assets8.9%8.6%8.6%9.5%9.5%9.6% Pinnacle Bank ratios: Common equity Tier one 8.3%9.0%9.1%10.1%10.0%11.4% Tier one risk-based8.3%9.0%9.1%10.1%10.1%11.4% Total risk-based10.6%10.6%10.8%11.2%11.3%12.6% Leverage8.4%8.8%9.4%9.8%9.7%10.6% This information is preliminary and based on company data available at the time of the presentation. (dollars in thousands) PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES SELECTED QUARTERLY FINANCIAL DATA – UNAUDITED March 2016 DecemberSeptemberJune MarchDecember 20152015201520152014 Per share data: Earnings – basic$0.70 0.67 0.64 0.65 0.62 0.54 Earnings – diluted$0.68 0.65 0.62 0.64 0.62 0.53 Common dividends per share$0.14 0.12 0.12 0.12 0.12 0.08 Book value per common share at quarter end (9)$29.26 28.25 27.80 23.39 22.98 22.45 Weighted avg. common shares – basic40,082,80540,000,10237,828,32435,128,85635,041,20334,827,999 Weighted avg. common shares – diluted40,847,02741,015,15438,792,78335,554,68335,380,52935,292,319 Common shares outstanding 41,994,95540,906,06440,802,90435,977,98735,864,66735,732,483 Investor information: Closing sales price$49.06 51.36 49.41 54.37 44.46 39.54 High closing sales price during quarter$51.32 56.80 55.18 54.88 45.19 39.95 Low closing sales price during quarter$44.56 47.90 45.03 44.25 35.52 34.65 Other information: Gains on mortgage loans sold: Mortgage loan sales: Gross loans sold $163,949 164,992 145,751 112,609 95,782 94,816 Gross fees (10) $5,425 4,155 4,751 4,067 3,108 3,261 Gross fees as a percentage of loans originated3.31%2.52%3.26%3.61%3.24%3.44% Net gain on mortgage loans sold $3,568 2,181 1,895 1,652 1,941 1,374 Investment gains on sales, net (17) $- (10) - 556 6 - Brokerage account assets, at quarter-end (11) $1,812,221 1,778,566 1,731,828 1,783,062 1,739,669 1,695,238 Trust account managed assets, at quarter-end $1,130,271 862,699 839,518 924,605 889,392 764,802 Core deposits (12) $6,432,388 6,332,810 4,832,719 4,608,648 4,412,635 4,381,177 Core deposits to total funding (12) 80.7%84.5%82.8%81.8%81.0%84.8% Risk-weighted assets $8,287,853 7,849,814 7,425,629 5,829,846 5,591,382 5,233,329 Total assets per full-time equivalent employee $8,616 8,228 7,960 8,141 8,153 7,877 Annualized revenues per full-time equivalent employee$373.2 367.6 308.5 360.0 365.3 336.0 Annualized expenses per full-time equivalent employee$202.3 195.6 166.7 184.1 192.9 178.6 Number of employees (full-time equivalent)1,075.0 1,058.5 1,073.5 800.5 774.5 764.0 Associate retention rate (13) 94.0%92.9%96.1%94.7%94.0%93.3% Selected economic information (in thousands) (14): Nashville MSA nonfarm employment - January 2016934.5926.6908.0906.6 890.9886.7 Knoxville MSA nonfarm employment - January 2016393.2391.4388.3387.8382.7381.5 Chattanooga MSA nonfarm employment - January 2016250.4249.1244.9245.4242.5240.7 Memphis MSA nonfarm employment - January 2016633.1629.3624.5621.8618.7617.5 Nashville MSA unemployment - February 20163.5%4.7%4.7%4.6%4.6%5.2% Knoxville MSA unemployment -February 20164.1%5.4%5.4%5.4%5.3% 6.1% Chattanooga MSA unemployment - February 20164.8%5.6%5.7%5.6%5.7%6.3% Memphis MSA unemployment - February 20165.0%6.4%6.4%6.5%6.5%7.4% Nashville residential median home price - March 2016$245.0242.9236.9240.0222.4213.5 Nashville inventory of residential homes for sale- March 2016 (16)7.97.18.79.28.27.6 This information is preliminary and based on company data available at the time of the presentation. (dollars in thousands, except per share data) March 2016 PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES SELECTED QUARTERLY FINANCIAL DATA – UNAUDITED MarchDecemberSeptemberJune MarchDecember (dollars in thousands, except per share data) 2016 20152015201520152014 Net interest income$73,902 71,475 62,059 51,831 51,269 50,313 Noninterest income25,856 26,608 21,410 20,019 18,493 14,384 Less: Investment gains on sales, net - 10 - (556) (6) - Noninterest income excluding investment gains on sales, net 25,856 26,618 21,410 19,463 18,487 14,384 Total revenues excluding the impact of investment gains on sales, net 99,758 98,093 83,469 71,294 69,756 64,697 Noninterest expense54,064 52,191 45,107 36,747 36,830 34,391 Less: Other real estate expense 112 99 (686) (115) 395 (630) FHLB prepayment charges - - - 479 - - Merger related expenses 1,829 2,489 2,249 59 - - Noninterest expense excluding the impact of other real estate expense, FHLB prepayment charges and merger related charges 52,122 49,603 43,544 36,324 36,435 35,021 Adjusted pre-tax pre-provision income (15) $47,636 48,490 39,925 34,970 33,322 29,676 Efficiency Ratio (4) 54.2%53.2%54.0%51.1%52.8%53.2% Adjustment due to investment gains, ORE expense, FHLB prepayment charges and merger related charges-1.9%-2.6%-1.9%-0.2%-0.6%1.0% Efficiency Ratio (excluding investment gains, ORE expense, FHLB prepayment charges and merger related charges) 52.2%50.6%52.2%50.9%52.2%54.1% Total average assets$8,851,978 8,565,341 7,514,633 6,319,712 6,102,523 5,855,421 Noninterest expense (excluding ORE expense, FHLB prepayment charges and merger related charges) to avg. assets (1) 2.37%2.30%2.30%2.31%2.42%2.37% Equity Method Investment (19) Fee income from BHG, net of amortization$5,148 7,839 5,285 4,266 3,201 Funding cost to support investment980 660 590 421 277 Pre-tax impact of BHG4,168 7,179 4,695 3,845 2,924 Income tax expense at statutory rates1,635 2,816 1,842 1,508 1,147 Earnings attributable to BHG$ 2,533 4,363 2,853 2,337 1,777 Basic earnings per share attributable to BHG$0.06 0.11 0.07 0.07 0.05 Diluted earnings per share attributable to BHG$0.06 0.11 0.07 0.07 0.05 Net income $27,965 26,854 24,149 22,665 21,843 18,737 Merger related charges 1,829 2,489 2,249 59 - - Tax effect on merger related charges (20) (718) (977) (882) (23) - - Net income less merger related charges $29,076 28,366 25,516 22,701 21,843 18,737 Basic earnings per share $0.70 0.67 0.64 0.65 0.62 0.54 Adjustment to basic earnings per share due to merger related charges 0.03 0.04 0.03 - - - Basic earnings per share excluding merger related charges $0.73 0.71 0.67 0.65 0.62 0.54 Diluted earnings per share$0.68 0.65 0.62 0.64 0.62 0.53 Adjustment to diluted earnings per share due to merger related charges 0.03 0.04 0.04 - - - Diluted earnings per share excluding merger related charges$0.71 0.69 0.66 0.64 0.62 0.53 This information is preliminary and based on company data available at the time of the presentation. PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES RECONCILIATION OF NON-GAAP SELECTED QUARTERLY FINANCIAL DATA – UNAUDITED March December SeptemberJuneMarchDecember (dollars in thousands, except per share data) 201620152015201520152014 Net income $27,965 26,854 24,149 22,665 21,843 18,737 Merger related expenses 1,829 2,489 2,249 59 - - Tax effect on merger related expenses (718) (977) (882) (23) - - Net income less merger related expenses $29,076 28,366 25,516 22,701 21,843 18,737 Return on average assets 1.27%1.24%1.27%1.44%1.45%1.27% Adjustment due to merger related charges0.05%0.07%0.07%0.00% 0.00%0.00% Return on average assets (excluding merger related charges) 1.32% 1.31%1.35%1.44%1.45%1.27% Tangible assets: Total assets$9,262,345 8,708,956 8,549,064 6,516,544 6,314,346 6,018,248 Less: Goodwill(431,841) (430,687) (429,416) (243,291) (243,443) (243,529) Core deposit and other intangible assets (9,667) (10,540) (11,641) (2,438) (2,666) (2,893) Net tangible assets $ 8,820,837 8,267,729 8,108,007 6,270,815 6,068,237 5,771,826 Tangible equity: Total stockholders' equity$1,228,780 1,155,611 1,134,226 841,390 824,151 802,693 Less: Goodwill(431,841) (430,687) (425,151) (243,291) (243,443) (243,529) Core deposit and other intangible assets (9,667) (10,540) (11,641) (2,438) (2,666) (2,893) Net tangible common equity $ 787,272 714,384 697,434 595,661 578,042 556,271 Ratio of tangible common equity to tangible assets 8.93%8.64%8.60%9.50%9.53%9.64% Average tangible equity: Average stockholders' equity$1,188,153 1,153,681 986,325 836,791 815,706 796,338 Less: Average goodwill(430,228) (430,574) (317,461) (243,383) (243,505) (243,531) Core deposit and other intangible assets(10,237) (11,261) (7,634) (2,581) (2,809) (3,040) Net average tangible common equity$747,688 711,847 661,230 590,827 569,392 549,767 Return on average tangible common equity (1) 15.04%14.97%14.49%15.39% 15.56%13.52% Adjustment due to merger related charges 0.60%0.84%0.82%0.06% 0.00%0.00% Return on average tangible common equity (excluding merger related charges) 15.64%15.81%15.31%15.44% 15.56%13.52% Total average assets$8,851,978 8,565,341 7,514,633 6,319,712 6,102,523 5,855,421 This information is preliminary and based on company data available at the time of the presentation. PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES RECONCILIATION OF NON-GAAP SELECTED QUARTERLY FINANCIAL DATA – UNAUDITED 20. Tax effect calculated using the statutory rate of 39.23% at March 31, 2016. Tangible common equity to total assets - End of period total stockholders' equity less end of period goodwill, core deposit and other intangibles as a percentage of end of period assets. Tier one risk-based – Tier one capital (pursuant to risk-based capital guidelines) as a percentage of total risk-weighted assets. 17. Represents investment gains (losses) on sales and impairments, net occurring as a result of both credit losses and losses incurred as the result of a change in management's intention to sell a bond prior to the recovery of its amortized cost basis. 18. The dividend payout ratio is calculated as the sum of the annualized dividend rate divided by the trailing 12-months fully diluted earnings per share as of the dividend declaration date. 15. Adjusted pre-tax, pre-provision income excludes the impact of investment gains and losses on sales and impairments, net as well as other real estate owned expenses and FHLB restructuring charges. 12. Core deposits include all transaction deposit accounts, money market and savings accounts and all certificates of deposit issued in a denomination of less than $250,000. 10. Amounts are included in the statement of operations in “Gains on mortgage loans sold, net”, net of commissions paid on such amounts. 14. Employment and unemployment data is from BERC- MTSU & Bureau of Labor Statistics. Labor force data is seasonally adjusted. The most recent quarter data presented is as of the most recent month that data is available as of the release date. Historical data is subject to update by the BERC- MTSU & Bureau of Labor Statistics. Historical data is presented based on the most recently reported data available by the BERC- MTSU & Bureau of Labor Statistics. The Nashville home data is from the Greater Nashville Association of Realtors. Classified asset - Classified assets as a percentage of Tier 1 capital plus allowance for loan losses. as a component of tier 1 capital as a percentage of total risk-weighted assets. 16. Represents one month's supply of homes currently listed with MLS based on current sales activity in the Nashville MSA. 11. At fair value, based on information obtained from Pinnacle’s third party broker/dealer for non-FDIC insured financial products and services. 19. Earnings from equity method investment includes the impact of the issuance of subordinated debt as well as the funding costs of the overall franchise. Income tax expense is calculated using statutory tax rates. 6. Average risk ratings are based on an internal loan review system which assigns a numeric value of 1 to 10 to all loans to commercial entities based on their underlying risk characteristics as of the end of each quarter. A "1" risk rating is assigned to credits that exhibit Excellent risk characteristics, "2" exhibit Very Good risk characteristics, “3” Good, “4” Satisfactory, “5” Acceptable or Average, “6” Watch List, “7” Criticized, “8” Classified or Substandard, “9” Doubtful and “10” Loss (which are charged-off immediately). Additionally, loans rated “8” or worse that are not nonperforming or restructured loans are considered potential problem loans. Generally, consumer loans are not subjected to internal risk ratings. This average is for PNFP legacy loans only. Tier one common equity to risk weighted assets - Tier 1 capital (pursuant to risk-based capital guidelines) less the amount of any preferred stock or subordinated indebtedness that is considered 13. Associate retention rate is computed by dividing the number of associates employed at quarter-end less the number of associates that have resigned in the last 12 months by the number of associates employed at quarter-end. The ratio noted above represents total core deposits divided by total funding, which includes total deposits, FHLB advances, securities sold under agreements to repurchase, subordinated indebtedness and all other interest-bearing liabilities. PINNACLE FINANCIAL PARTNERS, INC. AND SUBSIDIARIES SELECTED QUARTERLY FINANCIAL DATA – UNAUDITED 9. Book value per share computed by dividing total stockholders’ equity less preferred stock and common stock warrants by common shares outstanding. 1. Ratios are presented on an annualized basis. 2. Net interest margin is the result of net interest income on a tax equivalent basis divided by average interest earning assets. 3. Total revenue is equal to the sum of net interest income and noninterest income. 4. Efficiency ratios are calculated by dividing noninterest expense by the sum of net interest income and noninterest income. 7. Annualized net loan charge-offs to average loans ratios are computed by annualizing year-to-date net loan charge-offs and dividing the result by average loans for the year-to-date period. Equity to total assets – End of period total stockholders’ equity as a percentage of end of period assets. Leverage – Tier one capital (pursuant to risk-based capital guidelines) as a percentage of adjusted average assets. Total risk-based – Total capital (pursuant to risk-based capital guidelines) as a percentage of total risk-weighted assets. 8. Capital ratios are calculated using regulatory reporting regulations enacted for such period and are defined as follows: 5. Troubled debt restructurings include loans where the company, as a result of the borrower’s financial difficulties, has granted a credit concession to the borrower (i.e., interest only payments for a significant period of time, extending the maturity of the loan, etc.). All of these loans continue to accrue interest at the contractual rate.