Americas Select Franchise Conference

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1 Americas Select Franchise Conference Daryl N. Bible Chief Financial Officer May 2017

3 BB&T is A values-driven highly profitable growth organization. While we have had a very successful merger history, our primary focus is on organic growth; nonetheless, we are well positioned for strategic opportunities. Our fundamental strategy is to deliver the best value proposition in our markets. Recognizing value is a function of quality to price, our focus is on delivering high quality client service resulting in the Perfect Client Experience. Our over-arching purpose is to achieve our vision and mission, consistent with our values, with the ultimate goal of maximizing shareholder returns. 3

4 BB&T Corporation: A growing franchise 8 th largest U.S. financial institution 2 State # of Deposits Branches 2 State Rank North Carolina $ 28.7 bn Virginia 344 $ 22.6 bn Florida 318 $ 17.5 bn Pennsylvania 260 $ 14.8 bn Georgia 155 $ 12.4 bn Maryland 165 $ 10.1 bn South Carolina 110 $ 7.9 bn Kentucky 109 $ 6.3 bn Texas 124 $ 5.8 bn West Virginia 73 $ 5.0 bn Alabama 84 $ 4.0 bn New Jersey 33 $ 2.5 bn Tennessee 48 $ 2.4 bn District of Columbia 13 $ 1.2 bn Indiana 2 NM Ohio 3 NM Total # of Branches 2,193 1 Excludes home office deposits 2 Deposit Market Share data as of December 31, 2016 Source: FactSet, FDIC, SNL DataSource NM NM 4

Industry leading recognition BB&T has been named to the FORTUNE World s

higher than every other bank in our formal peer group.

in the world; one of only three in the U.S. by Bloomberg Markets Magazine.

5 Industry leading recognition BB&T has been named to the FORTUNE World s Most Admired Companies list in BB&T ranked No. 4 among superregional banks. BB&T has been named one of the 2017 Best Banks in America by Forbes, higher than every other bank in our formal peer group World s Strongest Banks: BB&T is one of the top 15 strongest banks in the world; one of only three in the U.S. by Bloomberg Markets Magazine. BB&T was named by Global Finance one of The World s Best Treasury & Cash Management Providers in 2016 for the U.S. Regional Middle Market Providers Southeast region. 5

Industry leading recognition BB&T was recognized as a 2016 Javelin Mobile Banking Leader in the Functionality category

BB&T received 14 Greenwich Excellence Awards in Small Business and Middle Market Banking from Greenwich Associates for our

Greenwich Associates provides global market intelligence and advisory services to the financial services industry.

6 Industry leading recognition BB&T was recognized as a 2016 Javelin Mobile Banking Leader in the Functionality category among the nation s top 30 financial institutions by Javelin Strategy & Research. BB&T received 14 Greenwich Excellence Awards in Small Business and Middle Market Banking from Greenwich Associates for our overall satisfaction and outstanding client service in Greenwich Associates provides global market intelligence and advisory services to the financial services industry. Training magazine recognized BB&T as one of the World s Top 125 organizations for excellent training in This marks the 15th consecutive year BB&T has received this coveted recognition ranking No. 18 overall and No. 1 among banks. 6

Strategic highlights 5 focus areas Accelerate loan growth in the Community Bank as main street improves; improve efficiency of branch network - Expect to close approximately 100

7 Strategic highlights 5 focus areas Accelerate loan growth in the Community Bank as main street improves; improve efficiency of branch network - Expect to close approximately 100 branches in 2017 Accelerate Corporate Banking loan growth Accelerate growth in our Wealth business Optimize consumer portfolios - De-emphasize prime auto - Improve Regional Acceptance Corp. (RAC) credit performance Accelerate digital transformation - Continue to enhance the U platform - Increase digital marketing BB&T Leadership Institute State-of-the-art facility that will provide excellent opportunities to help our clients achieve financial success, train our associates and improve our communities by developing leaders in education 7

First quarter 2017 guidance update Category 1Q17 outlook Results Actuals Loans Credit quality Net interest margin Noninterest income Expenses Operating leverage Average loans are expected to be flat

8 First quarter 2017 guidance update Category 1Q17 outlook Results Actuals Loans Credit quality Net interest margin Noninterest income Expenses Operating leverage Average loans are expected to be flat to up slightly vs. 4Q16 due largely to seasonality 1Q17 net charge-offs to be in the range of 35 to 45 bps NPA levels expected to remain in a similar range in 1Q17 GAAP net interest margin expected to increase bps Core net interest margin expected to increase 8 10 bps ($ in millions) (-) (0.9)% + 42 bps 0.36% +14 bps +10 bps Total noninterest income expected to be relatively flat vs. 4Q16 +$9 Excluding merger-related and restructuring charges and the FHLB restructuring charge, expenses should be slightly below $1.7 billion + $1,674 Achieve positive adjusted operating leverage % 1 (-) = missed guidance = achieved guidance + = exceeded guidance 8

First quarter key performance results vs. peers 50.0% 40.0% 43.2% Average Loan Growth vs. s 1Q17 vs. 1Q16 32.3% 30.0% 20.0% 10.0% 7.8% 5.7% 4.1% 3.9% 3.8% 3.8% 3.8% 2.9% 2.4% 0.0% -1.

9 First quarter key performance results vs. peers 50.0% 40.0% 43.2% Average Loan Growth vs. s 1Q17 vs. 1Q % 30.0% 20.0% 10.0% 7.8% 5.7% 4.1% 3.9% 3.8% 3.8% 3.8% 2.9% 2.4% 0.0% -1.0% -1.2% -1.6% -10.0% BBT median Source: S&P Global Includes the impact of acquisitions s include CFG, CMA, FITB, HBAN, KEY, MTB, PNC, RF, STI, USB, WFC and ZION 9

10 First quarter key performance results vs. peers 40.0% Average Noninterest-bearing Deposit Growth vs. s 1Q17 vs. 1Q % 33.0% 24.0% 21.6% 16.0% 15.3% 8.0% 10.6% 8.6% 7.2% 5.7% 5.3% 3.4% 2.8% 2.4% 2.3% 0.0% 1.0% -0.3% -8.0% BBT 4 5 average Source: S&P Global Includes the impact of acquisitions s include CFG, CMA, FITB, HBAN, KEY, MTB, PNC, RF, STI, USB, WFC and ZION 10

11 First quarter key performance results vs. peers 1.00% Nonperforming Assets / Total Assets 0.85% 0.88% 0.90% 0.75% 0.73% 0.75% 0.60% 0.52% 0.55% 0.50% 0.46% 0.46% 0.42% 0.33% 0.36% 0.25% 1 BBT Source: S&P Global s include CFG, CMA, FITB, HBAN, KEY, MTB, PNC, RF, STI, USB, WFC and ZION 11

12 First quarter key performance results vs. peers best in class 3.60% Net Interest Margin 3.46% 3.35% 3.33% 3.29% 3.26% 3.20% 3.10% 3.10% 3.05% 3.00% 2.98% 2.95% 2.85% 2.85% 2.82% 2.76% 2.60% BBT Source: S&P Global s include CFG, CMA, FITB, HBAN, KEY, MTB, PNC, RF, STI, USB, WFC and ZION 12

13 First quarter key performance results vs. peers 50.0% Fee Income 44.4% 43.9% 43.0% 42.1% 40.0% 38.5% 38.3% 37.3% 36.6% 35.9% 32.8% 30.0% 29.8% 27.4% 20.6% 20.0% BBT Source: S&P Global s include CFG, CMA, FITB, HBAN, KEY, MTB, PNC, RF, STI, USB, WFC and ZION 13

0% 1 2 BBT 3 4 5 6 7 8 9 10 11 12 *GAAP efficiency ratio was 75.

14 First quarter key performance results vs. peers 70.0% Efficiency Ratio 67.3% 65.0% 60.0% 58.0% 58.3% 60.5% 60.9% 61.4% 62.6% 63.0% 63.2% 65.3% 65.9% 56.9% 55.0% 54.8% 50.0% 1 2 BBT *GAAP efficiency ratio was 75.6% Refer to non-gaap reconciliation in the attached appendix Source: S&P Global s include CFG, CMA, FITB, HBAN, KEY, MTB, PNC, RF, STI, USB, WFC and ZION 14

15 First quarter key performance results vs. peers 1.75% 1.66% Return on Risk-Weighted Assets 1.50% 1.50% 1.43% 1.25% 1.20% 1.18% 1.11% 1.07% 1.07% 1.06% 1.03% 1.03% 1.00% 0.75% 1 BBT *GAAP return on risk-weighted assets was 0.98% Refer to non-gaap reconciliation in the attached appendix Source: S&P Global s include CFG, CMA, FITB, HBAN, KEY, PNC, RF, STI, USB and ZION 15

00% 1 BBT 2 3 5 6 7 4 8 9 10 11 12 *GAAP return on tangible common equity was 9.

16 First quarter key performance results vs. peers 20.00% Return on Average Tangible Common Equity 17.60% 15.56% 15.00% 13.85% 13.05% 12.19% 10.00% 11.41% 11.28% 10.98% 10.63% 10.07% 9.95% 9.07% 8.72% 5.00% 1 BBT *GAAP return on tangible common equity was 9.98% Refer to non-gaap reconciliation in the attached appendix Source: S&P Global s include CFG, CMA, FITB, HBAN, KEY, MTB, PNC, RF, STI, USB, WFC and ZION 16

First quarter key performance results vs. peers 13.0% Common Equity Tier 1 12.2% 12.0% 11.5% 11.3% 11.2% 11.0% 10.8% 10.7% 10.5% 10.3% 10.

17 First quarter key performance results vs. peers 13.0% Common Equity Tier % 12.0% 11.5% 11.3% 11.2% 11.0% 10.8% 10.7% 10.5% 10.3% 10.0% 9.9% 9.7% 9.7% 9.5% 9.0% BBT Source: S&P Global s include CFG, CMA, FITB, HBAN, KEY, MTB, PNC, RF, STI, USB and ZION 17

18 First quarter key performance results vs. peers 14.0% 13.6% Tier 1 Ratio 13.0% 12.0% 12.1% 12.0% 11.9% 11.8% 11.5% 11.4% 11.0% 11.1% 11.0% 10.7% 10.4% 10.0% 1 2 BBT Source: S&P Global s include CFG, CMA, FITB, HBAN, KEY, PNC, RF, STI, USB and ZION 18

19 First quarter key performance results vs. peers 3.00% 2.73% 2.68% Dividend Yield 2.40% 2.39% 2.20% 2.17% 1.80% 1.94% 1.91% 1.88% 1.83% 1.79% 1.62% 1.34% 1.20% 0.76% 0.60% 0.00% 1 BBT Source: S&P Global s include CFG, CMA, FITB, HBAN, KEY, MTB, PNC, RF, STI, USB, WFC and ZION As of March 31,

20 Capital Expenditures Productivity 16% Other 1% Risk 29% Line of Business 8% Digital 9% Facilities 9% IT Investments 28% 1 Totals include $50 million for digital investment that is not planned as a capital expenditure Total = $561 million 20

21 A broad-based, high performance company Most Recent Quarter Results BB&T Rank Return on average assets Return on average tangible common equity 1.22% 15.56% 2 nd 2 nd Return on risk - weighted assets 1.52% 2 nd Net interest margin 3.46% 1 st Adjusted efficiency 58.0% 3 rd Dividend yield 2.68% 2 nd Nonperforming assets as a % of total assets 0.36% 2 nd s include CFG, CMA, FITB, HBAN, KEY, MTB, PNC, RF, STI, USB, WFC and ZION; RWA excludes MTB and WFC Source: S&P Global and Company Reports 21

22 Driving strong valuation

23 BB&T valuation in line with peer averages 3.0 Price / TBV vs. 2017E ROTCE Regression 22.0 Price / 2017E EPS R² = 80% x 18.2x 16.5x 16.3x 15.5x 15.1x Median: 15.0x 14.9x 14.8x 14.7x 14.4x x 13.8x 13.2x 2 BBT BBT P/ 18 EPS x Price / Tangible Book Value x 2.2x 2.1x 1.9x 1.9x 1.8x 1.8x 1.7x Median: 1.8x 1.6x 1.5x 1.5x 1.4x BBT Source: Morgan Stanley and S&P Global s include CFG, CMA, FITB, HBAN, KEY, MTB, PNC, RF, STI, USB, WFC and ZION 23

24 Earnings multiples have remained steady BB&T vs. BKX Delivering strong earnings growth critical to driving superior shareholder returns With the exception of the financial crisis, banks have traded at approximately 13 14x forward earnings 30.0 Price / NTM EPS 25.0 Financial Crisis BKX:14.4x BBT: 13.8x BKX Avg: 13.1x Jan-00 Sep-01 Jun-03 Mar-05 Nov-06 Aug-08 Apr-10 Jan-12 Oct-13 Jun-15 Mar-17 May-17 Capital IQ as of May 5, 2017 Source: Morgan Stanley 24

25 Demonstrated ability to manage through cycles Trading Near All-Time Highs 1 Sorted by % of All-Time High % of All-Time High Ticker (%) BB&T 88% % Cumulative Charge-Offs ( 08 10) vs. 07 EOP Loans 9.1% 8.7% 7.8% 7.0% 6.7% 6.6% 6.3% Median: 6.6% 5.9% 5.7% 4.8% Comerica 96% PNC Financial 94% Citizens 93% US Bancorp 92% M&T Bank 92% Wells Fargo 92% Suntrust 64% Zions 46% KeyCorp 43% Huntington 42% Fifth Third 36% Regions 37% Median 78% % % % 72% % % 49% 43% BBT Cumulative Shares Issued ( 07 11) vs. 06 EOP Comm. Shares Out % % 12 performance during credit crisis allowed for less dilutive capital raises Median: 50% 27% 25% 8% 5% BBT Market data as of May 5, Excludes shares issued in connection with an acquisition; excludes CFG, which IPO d in May 2014 s for cumulative charge-offs include CFG, CMA, FITB, HBAN, KEY, MTB, PNC, RF, STI, USB, WFC and ZION Source: Morgan Stanley and S&P Global 25

26 A strong liquidity profile

27 Among the highest rated banks Average Group Debt Ratings Sources: Bloomberg, SNL As of 5/1/17 Averages reflect ratings by Moody s, S&P, Fitch, and DBRS BB&T has a strong risk profile A track record of forgoing excessive growth in overheated markets BB&T has not been active in the leveraged loan market BB&T performs very well in forward-looking stress tests BB&T s capital position is resilient under stress - Even during the crisis, BB&T grew capital, largely organically BB&T has the second most granular loan portfolio of the 67 banks surveyed by Moody s Moody's S&P Fitch DBRS S&P/Fitch Equivalent USB A1 A+ AA AA AA- WFC A2 A AA- AA A+ BBT A2 A- A+ AH A PNC A3 A- A+ AH A CMA A3 BBB+ A A A- MTB A3 A- A AL A- FITB Baa1 BBB+ A AL A- STI Baa1 BBB+ A- AL A- KEY Baa1 BBB+ A- BBBH BBB+ HBAN Baa1 BBB A- BBBH BBB+ CFG N/A BBB+ BBB+ BBBH BBB+ RF Baa2 BBB BBB BBBH BBB ZION Baa3 BBB- N/A N/A BBB- 27

Strong funding and liquidity $25 $20 $15 $10 $5 $0 $16.4 $3.1 $4.3 $1.2 $19.0 $3.

6 billion Annual Expected Dividends from Bank = $3.

28 Strong funding and liquidity $25 $20 $15 $10 $5 $0 $16.4 $3.1 $4.3 $1.2 $19.0 $3.1 Long-term Funding ($ in billions) $17.5 $6.1 $5.3 $4.5 $1.2 $1.2 $17.6 $2.4 $2.4 $1.2 $20.2 $2.4 $6.5 $1.2 $7.8 $8.6 $8.6 $9.5 $10.1 1Q16 2Q16 3Q16 4Q16 1Q17 Parent Sources of Liquidity Cash on Deposit at Bank = $5.6 billion Annual Expected Dividends from Bank = $3.7 billion Parent Uses of Liquidity Annual Debt Service and Retirements = $1.9 billion Annual Preferred Dividends = $174 million Annual Common Dividends = $1.0 billion HoldCo Sr Bank Sr HoldCo Subordinated Bank Subordinated 28

Among the lowest debt costs $100 Global Excess Liquidity Sources ($ in billions) 30 Parent Company Time to Required Funding (months) $80 $60 $40 $79.5 $77.6 $79.4 $77.4 $18.4 $19.3 $19.4 $19.4 $28.

29 Among the lowest debt costs $100 Global Excess Liquidity Sources ($ in billions) 30 Parent Company Time to Required Funding (months) $80 $60 $40 $79.5 $77.6 $79.4 $77.4 $18.4 $19.3 $19.4 $19.4 $28.7 $28.5 $28.2 $24.4 $80.1 $18.4 $ $20 $30.5 $31.7 $31.8 $33.6 $36.9 $0 1Q16 2Q16 3Q16 4Q16 1Q Q16 2Q16 3Q16 4Q16 1Q17 Borrowing Capacity at Discount Window Securities Available and Eligible as Collateral FHLB Borrowing Available Capacity 29

30 Revenue diversification enhances stability

31 BB&T insurance holdings highlights Founded in th anniversary Largest insurance and life insurance wholesaler in the U.S.; 2 nd largest P&C wholesaler in the U.S. Approximately $22 billion in premium volume 216 locations across the US 5th largest distributor of insurance products in the U.S. and 6th largest in the World 1 Top 5 Performer with most of our top 25 insurance partners 1 Source: Business Insurance Magazine, July based on total 2015 brokerage revenue 31

32 Insurance holdings a national presence 32

33 Insurance holdings diversification of revenue Revenues are not interest sensitive, providing stability to BB&T s revenues Not subject to the dynamics of credit cycles contributes to our strong CCAR stress scenarios Provides broader product offering to clients and valued risk management expertise Increases stability of BB&T s revenues as insurance contribution has increased in recent years commercial/corporate client penetration; Wealth/Life partnership 60% Revenue Contribution Q17 40% 35% 39% 43% 40% 39% 39% 20% 14% 16% 18% 17% 16% 17% 0% Q17 % of Core Non-Interest Income % of Core Revenue 33

34 Insurance holdings platform diversification Retail Clients are insureds for commercial, personal and employee benefits insurance Wholesale Clients are retail insurance agencies (including BB&T retail) for commercial and personal insurance BB&T Insurance Services, Inc. 86 agency locations in BB&T footprint Key unit for carrying out Integrated Relationship Management strategy (IRM) BB&T Insurance Services of California, Inc. 10 retail insurance locations (2 SHDR) McGriff, Seibels & Williams, Inc 12 insurance locations across the U.S. Large account (Fortune 1000) emphasis CRC Group 80 wholesale locations, representing brokerage and managing general agency operations 04/01/16 Closed Swett & Crawford acquisition AmRisc, LLC Managing general underwriter (no risk assumption) for primarily wind-based, catastrophe-prone property Crump Life Insurance Services 22 locations, supporting both institutional and independent life insurance channels 34

35 Insurance holdings revenue diversification Provides non margin sensitive revenue diversification and fee income stability in down markets Revenue by Company 1 Product Line Percentage Sales BB&T Insurance Services of Assurance California 1% 4% Title 1% McGriff 15% AmRisc 6% Crump 11% Employee Benefits 11% Personal 4% MGA 6% Life 11% MGU 6% BB&T Insurance Services, Inc. 27% CRC / SCU 36% Retail Commercial 31% Whole Brokerage 30% Retail 47% / Wholesale 53% 1 Based on segment revenues, excluding other, treasury and corporate as of TTM 03/31/17 35

36 Q3-07 Q4-07 Q1-08 Q2-08 Q3-08 Q4-08 Q1-09 Q2-09 Q3-09 Q4-09 Q1-10 Q2-10 Q3-10 Q4-10 Q1-11 Q2-11 Q3-11 Q4-11 Q1-12 Q2-12 Q3-12 Q4-12 Q1-13 Q2-13 Q3-13 Q4-13 Q1-14 Q2-14 Q3-14 Q4-14 Q1-15 Q2-15 Q3-15 Q4-15 Q1-16 Q2-16 Q3-16 Q4-16 1Q-17 Insurance holdings market diversification Market dynamics (primarily loss history) drive wholesale and retail growth at different rates during insurance cycles Capacity drives wholesale and retail growth at different rates during economic cycles 20.0% Retail and Wholesale Same Store Sales Growth 16.0% 12.0% 8.0% 4.0% 0.0% -4.0% -8.0% -12.0% Retail Wholesale Total Significant catastrophe periods 6 Major Hurricane events Release of RMS Major Hurricane events Note: Same Store Sales growth represents year-over-year organic growth of General Insurance Commissions excluding acquisitions and divestitures completed during the prior twelve months forced place insurance, reinsurance payments, contingencies and non-recurring adjustments 1Q17 adjusted for timing of wholesale profit commissions. 36

37 Keeping our commitments

38 Committed to our associates a strong value proposition Offering exceptional benefits Retained strong 401K match and traditional pension plan Continued to enhance our exceptional wellness programs Introduced Vacation Purchase benefit Committed to learning and training Training Magazine s Top 125 for 15th consecutive year; top large bank Continued Leadership Development Program and BB&T Banking School 291 associates completed BB&T Leadership Institute programs 1,863 associates received promotional opportunities through Job Awareness Remained committed to diversity Executive Diversity Council Added 2 new Business Resource Groups Continued diversity recruiting with 40% of new hires being diverse Successfully deployed 10 Pillars Supporting Strong Associate Engagement Maintained a high level of engagement Maintained low level of turnover 38

Industry norm 64% Committed to our associates the most engaged associates Overall engagement score = 78 I am motivated to put forth extra effort in my job.

39 Industry norm 64% Committed to our associates the most engaged associates Overall engagement score = 78 I am motivated to put forth extra effort in my job I would recommend BB&T as an employer I am proud to work for BB&T I rarely consider looking for a job outside BB&T Overall, I am very satisfied working at BB&T Strongly Agree Agree Neither Agree nor Disagree Disagree Strongly Disagree Industry norm source: PWC s 2015 Employee Engagement Landscape Study 39

Committed to our communities lighthouse project The BB&T Lighthouse Project provides associates with an opportunity

The purpose of the Lighthouse Project is to be involved in positive change.

It s about living out our mission to make the communities we serve a better place to live and work.

40 Committed to our communities lighthouse project The BB&T Lighthouse Project provides associates with an opportunity to make a difference in their communities through company supported and funded service projects. The purpose of the Lighthouse Project is to be involved in positive change. It s about seeing a need and then working with a local nonprofit to address the need. It s about living out our mission to make the communities we serve a better place to live and work. Since we began the BB&T Lighthouse Project in 2009, we have completed more than 9,000 community service projects, provided more than 475,000 volunteer hours, and helped change the lives of more than 13 million people! 40

Committed to our communities BB&T financial foundations Since 2010, BB&T has underwritten the cost of the EverFi - Financial Literacy TM platform, which provides an interactive, web-based financial

41 Committed to our communities BB&T financial foundations Since 2010, BB&T has underwritten the cost of the EverFi - Financial Literacy TM platform, which provides an interactive, web-based financial management program to high school students throughout our footprint at no cost to the schools or taxpayers. Length of program: 6 8 hours The ten module course covers 600 financial literacy concepts on savings, banking, credit cards and interest rates, credit score, financing higher education, renting versus owning, taxes and insurance, consumer fraud, and investing. Course curriculum aligns with both state and national financial literacy standards and Common Core State Math Standards. Students experienced an 86% increase in financial knowledge after completing the BB&T curriculum 1 314,749 students in 15 states and the District of Columbia certified on the BB&T platform as of 12/1/16 41

42 Environmental sustainability BB&T is proud to share our efforts to reduce our environmental footprint. From the way we construct our workplaces to choices we make in their operation, we closely consider our affect on the neighborhoods and communities where we live alongside our clients and associates. Bank-wide facilities initiatives Corporate paper shredding and recycling Commercial print (achieved 14% reduction in the volume of paper) Purchase of copy paper recycled using sustainable forestry practices Environmentally-friendly janitorial cleaning products Eliminated routine carpet cleaning to conserve resources Drive thru concrete cleaning 42

Bank-wide building construction initiatives Maximizing the use of natural light reducing electricity consumption Use of native plants to reduce irrigation requirements Specification of construction

43 Environmental sustainability In building construction, BB&T is an advocate for the environment and sustainable design. We promote the incorporation of sustainable design strategies where applicable, practical, economically feasible and consistent with the function and operations of the facility. Bank-wide building construction initiatives Maximizing the use of natural light reducing electricity consumption Use of native plants to reduce irrigation requirements Specification of construction materials with recycled content Specification of low-voc content materials New flooring and new furniture contains recycled content Use of white building roof system to reduce heat island effect Energy-efficient appliances and lighting High-performance low-e glazing on windows and doors Use of high-efficiency HVAC units 43

Well-positioned for the future Diversification drives stable, consistent and growing earnings Maintaining long-term performance advantages Most diversified insurance brokerage platform in the

44 Well-positioned for the future Diversification drives stable, consistent and growing earnings Maintaining long-term performance advantages Most diversified insurance brokerage platform in the industry Achieving targeted cost savings / intense focus on expenses Accelerating digital transformation U by BB&T Strong dividend Among the highest dividend payout ratios Management is currently targeting a meaningfully significant increase in total return to shareholders compared with CCAR 2016 Focus on improving loan and revenue growth Unique and non-negotiable culture 44

45 Culture matters values are consistent and important Value System Value System Attract / Train and Retain the Right People Perfect Client Experience Revenues Superior Shareholder Long-term Returns 45

47 Appendix

48 Non-GAAP reconciliations 1 (Dollars in millions) Quarter Ended March 31, 2017 Return on average assets Net income $ 426 Loss on debt extinguishment, net of tax 246 Excess tax benefit of equity-based compensation (35) Merger-related and restructuring charges, net 22 Adjusted net income $ 659 Reported denominator $ 219,961 Estimated impact of adjustments on average assets 232 Adjusted denominator $ 220,193 Impact of risk-weighted assets $ 44,277 Risk-weighted assets 175,684 Return on average assets 0.79 % Adjusted return on average assets 1.21 Adjusted return on risk-weighted assets BB&T's management uses these measures to evaluate the returns without the impact of significant gains or charges and believes that investors may find the information useful in their analysis of the company.

49 Non-GAAP reconciliations 1 (Dollars in millions) Quarter Ended Return on average tangible common equity March 31, 2017 Tangible net income available to common shareholders $ 402 Loss on debt extinguishment, net of tax 246 Excess tax benefit of equity-based compensation (35) Merger-related and restructuring charges, net 22 Adjusted net income $ 635 Reported denominator $ 16,343 Estimated impact of adjustments on average tangible common equity 224 Adjusted denominator $ 16,567 Return on average tangible common equity 9.98% Adjusted return on tangible common equity BB&T's management uses these measures to evaluate the returns without the impact of significant gains or charges and believes that investors may find the information useful in their analysis of the company.

50 Non-GAAP reconciliations 1 (Dollars in millions) Quarter Ended Efficiency Ratio March 31, 2017 Efficiency Ratio Numerator - Noninterest Expense - GAAP $ 2,102 Amortization of intangibles (38) Merger-related and restructuring charges, net (36) Gain (loss) on early extinguishment of debt (392) Mortgage reserve adjustments - Charitable contribution - Settlement of FHA-insured loan matters and related recovery - Efficiency Ratio Numerator - Adjusted $ 1,636 Efficiency Ratio Denominator Revenue 2 GAAP $ 2,780 Taxable equivalent adjustment 40 Securities (gains) losses, net - Efficiency Ratio Denominator - Adjusted $ 2,820 Efficiency Ratio - GAAP 75.6% Efficiency Ratio - Adjusted BB&T s management uses these measures in their analysis of the Corporation s performance and believes these measures provide a greater understanding of ongoing operations and enhance comparability of results with prior periods, as well as demonstrating the effects of significant gains and charges. 2 Revenue is defined as net interest income plus noninterest income

Investor Presentation

Investor Presentation First Quarter 2017 Daryl N. Bible Chief Financial Officer Forward-Looking Information This presentation contains "forward-looking statements" within the meaning of the Private Securities