First Horizon : Read our most recent CSR Report

Here for Good

Corporate Social Responsibility &

Environmental, Social and Governance

Impact Report

2023

Published July 2024

toc

About First Horizon	Here for our Clients	Here for our Associates

Here for Good

2023 Highlights

Here forOur

Clients

Here forOur

Associates

Here forOur

Communities

Here forOur

Environment

$6 billion	50+
in new-to-bank funds and over	technology and operations
32,000 new-to-bank clients	projects completed in 2023
gained during deposit campaign
90%	418
client retention in 2023	banking centers
83%	82%
overall favorability rating	associate favorability rating
Associate Value Survey	Wellbeing Pulse Survey
100,500+ hours	10
of training completed during	Associate Resource Groups
1,772 courses
$183 million	$355 million
community development	community development
investments	loans
27,000+ hours	$18 million
serving non-profit organizations,	distributed to 1,600+ non-profits
with over 15,000 CRA hours	through First Horizon foundations
39%	144
reduction in Scope 1 & 2 greenhouse	efficiency enhancements in
gas emissions from 2019 baseline	facilities and banking centers
$1.3 billion	$40,000+
in renewable energy project	donated to OCIA to advance
financing since 2017	climate progress through
	ocean research

2 | First Horizon Corporation

Here for our Communities	Here for our Environment	Governance and Ethics

Table of Contents

What's Inside

Our voluntary Corporate Social Responsibility (CSR) and Environmental, Social and Governance (ESG) Impact Report highlights the progress we made in 2023. As ESG evolves in the financial services sector, we continue to enhance and adjust our efforts in line with industry and stakeholder expectations. Our focus is centered around our five interrelated pillars - Clients, Associates, Communities, Environment and Governance and our commitment to be Here for Good for our stakeholders.

2	Here for Good 2023 Highlights	55	Here for Our Environment
4	Messages from Leadership	56	Overview and Context
		57	Environmental Framework
7	About First Horizon	58	Environmental Strategy
8	Executive Leadership Team	61	Client Strategy
10	Financial Highlights	62	Climate Risks, Metrics and Analysis
12	Our Corporate Responsibility	69	Community Sustainability Stories
	Commitment and Strategic
	Direction	71	Governance and Ethics
		72	Board Composition and Governance
16	Here for Our Clients	75	Board and Management Oversight
17	Client Service Teams	78	Responsible Risk Management
22	Client Experience (CX)	82	Policies and Statements
24	Fair and Responsible Banking	86	Awards and Recognition
26	Cybersecurity	88	SASB Index
		89	TCFD Index
30	Here for Our Associates	90	Appendix

1. Investing in Our Associates

1. Creating a Diverse Workforce

1. Here for Our Communities
2. Community Investment Strategy
3. Community Reinvestment Act (CRA)

1. Community Development
2. Partnering for Progress Spotlights

2023 Corporate Social Responsibility Impact Report | 3

toc

About First Horizon	Here for our Clients	Here for our Associates

A Message from

Our President and CEO

Reflecting on the past year, I am incredibly proud of the resilience of our team and the growth we achieved. Our associates continued to demonstrate a relentless commitment to our clients, communities and each other while delivering results for our shareholders. At the center of all that we do are our Purpose, Values and Commitment, by which we hold ourselves to the highest standards of ethical conduct and operational excellence. Our market centric business model coupled with specialty banking capabilities helps us attract and retain diverse client relationships and to understand the needs of each of the communities we serve across our vibrant 12-state footprint. We are committed to listening, understanding and delivering for our stakeholders and are pleased to share some examples of how our team strives to be Here for Good every single day.

Corporate social responsibility (CSR) has always been foundational to our organization. We view environmental, social and governance matters as both risks and opportunities and continue to evolve our priorities to align with changing dynamics.

Our corporate responsibility efforts center around five interrelated pillars- Clients, Associates, Communities, Environment and Governance- which are grounded in our commitment to be Here for Good for our stakeholders. As we strive to continue to be a sustainable organization and manage environmental, social and governance matters in our business, we remain focused on creating value for our stakeholders, not just for the next quarter, but for the long-term future of our Company.

In late 2023, we conducted our first stakeholder assessment working with a third-party firm to ensure the assessment was aligned with industry standards and administered from an objective point of view. The results of this assessment have been integrated into our guiding pillars and focus areas and are highlighted throughout this report.

At the heart of our Here for Good commitment are our clients, associates and communities. We believe success begins with nurturing and investing in talent and putting our people first. That means creating an environment where diverse perspectives are welcome, opportunities for advancement and training are available and mentorship is encouraged. Our team's collective commitment to create and drive meaningful, sustainable value for every stakeholder continues to be one of our greatest differentiators.

Our team of banking veterans is experienced in building strong relationships and local community ties. We provide personalized service based on a deep understanding of our client's needs and proactively

4 | First Horizon Corporation

Here for our Communities	Here for our Environment	Governance and Ethics

work to achieve a long-term vision for our clients' futures. As a people-led,technology-enabled organization, we are continuously making strategic investments to support our clients and to ensure we are positioned for growth and scalability well into the future.

Our steadfast commitment to foster thriving communities is passionately embraced throughout our organization. We engage in initiatives that support the underserved and create healthier and more sustainable neighborhoods, striving to enhance the quality of life for all. By strategically investing in organizations and programs tailored to the unique needs of each community, we endeavor to create lasting positive impacts for future generations.

Our environmental strategy is anchored in partnerships with scientific organizations and projects that drive meaningful, action-oriented solutions and impactful change. We continue to enhance our capabilities to identify, monitor and measure potential climate-related risks that could manifest in many areas of our risk taxonomy as well as provide new business opportunities.

We are releasing this report amidst a dynamic shift in the climate arena, marked by the pending SEC climate-related disclosure rules and the adoption of climate legislation in states like California. As we adapt to the changing landscape of climate action, we have taken proactive steps to quantify our Scope 1 and 2 emissions, integrate sustainable practices, align with the Task Force on Climate- Related Financial Disclosures (TCFD) framework and catalyze nature-based solutions, recognizing our integrated footprint in the 'blue' economy.

As we look ahead, we will continue to focus on improving what we already do well and enhancing other areas in line with stakeholder expectations. We will always conduct business on a foundation of good corporate governance and uncompromised ethics and believe it is important to remain non-political, develop meaningful partnerships and evaluate all risks and opportunities in support of building long-term shareholder value.

I am thankful to our associates, clients and stakeholders for their support in helping us become the trusted financial institution we are today and honored to lead this organization as we continue our 160-year legacy of excellence and fulfill our promise to be Here for Good.

Delivering on Our Purpose

At the center of all that we do are our Purpose, Values and Commitment, holding ourselves to the highest standards of ethical conduct and operational excellence.

our purpose

Help our clients unlock their full potential with capital and counsel.

our values

• Puts clients first
• Cares about people
• Commits to excellence in everything we do
• Elevates equity
• Fosters team success

our action

listen | understand | deliver

D. Bryan Jordan

Chairman, President and CEO

2023 Corporate Social Responsibility Impact Report | 5

toc

About First Horizon	Here for our Clients	Here for our Associates

A Message from

Our Nominating and Corporate Governance Committee Chair

The last year has been one of transformation for First Horizon. As the organization continues to grow, integrating sustainable and responsible practices into the business model is critical to our success. We continue to see environmental, social and governance practices evolve at a rapid pace. It has never been more important for organizations like First Horizon to remain committed to managing associated risks and looking for opportunities that benefit our stakeholders.

The Nominating and Corporate Governance Committee of the Board continues to have significant focus on environmental, social and governance matters. We recognize that progress is not made overnight, and sustainability is a journey. We look forward to continuing to ensure we take the right steps to make an impact in areas most important to our stakeholders.

John Compton

Nominating and Corporate

Governance Committee Chair

About this Report

This Corporate Social Responsibility & Environmental, Social and Governance Impact Report summarizes our commitment to be Here for Good. It highlights our commitments, activities and programs regarding corporate social responsibility and environmental, social and governance matters. Due to the continued evolution and enhancements of our sustainability efforts, it covers our progress and programs for 2023 unless a different date is specifically noted in the text. It is intended to provide a high-level overview with selected examples; it is not a comprehensive description, financial presentation or legal summary of those programs and involvements. This report presents information we believe was accurate at the time we released the report. We have no duty and make no commitment to provide later updates.

In this report we voluntarily disclose our corporate responsibility efforts by utilizing frameworks such as Task Force on Climate-Related Financial Disclosures (TCFD), Carbon Disclosure Project (CDP) and

Sustainability Accounting Standards Board (SASB) standards. We also disclose selected information touching on corporate responsibility and environmental, social and governance matters in our Annual Report on Form 10-K and our annual Proxy Statement, both of which are available in the investor relations section of our website and at www.sec.gov.

This report contains forward-looking statements identified by words such as "believe," "expect," "anticipate," "intend," "estimate," "should," "is likely," "will," "going forward" and other expressions that indicate our current views of future events, trends and aspirations. These may or may not be followed by or reference cautionary statements. A number of factors could cause actual results to differ materially from those in our forward-looking statements. These factors are outlined in our most recent quarterly and annual financial reports on Forms 10-Q and 10-K, available in the Investor Relations section of our website and at www.sec.gov.

6 | First Horizon Corporation

Here for our Communities

Here for our Environment

Governance and Ethics

About First Horizon

First Horizon Corporation (NYSE: FHN), with $81.8 billion in assets as of March 31, 2024, is a leading regional financial services company, dedicated to helping our clients, communities and associates unlock their full potential with capital and counsel.

Headquartered in Memphis, TN, the banking subsidiary First Horizon Bank operates in 12 states across the southern U.S. The Company and its subsidiaries offer commercial, private banking, consumer, small business, wealth and trust management, retail brokerage, capital markets, fixed income and mortgage banking services. First Horizon has been recognized as one of the nation's best employers by Fortune and Forbes magazines and a Top 10 Most Reputable U.S. Bank.

More information is available at our website www.firsthorizon.com

2023 Corporate Social Responsibility Impact Report | 7

toc

About First Horizon	Here for our Clients	Here for our Associates

Executive Leadership Team

Our experienced executive team is dedicated to fostering an engaging, inclusive culture through our shared purpose and values. The team possesses deep industry knowledge, well-rounded business perspectives and the proven ability to adapt as the industry continues to rapidly evolve.

D. Bryan Jordan

Chairman, President and CEO

Terry Akins	Beth Ardoin	Hope Dmuchowski	Tanya Hart
Chief Risk Officer	Chief Communications	Chief Financial Officer	Chief Human Resources
	Officer		Officer

Thomas Hung	Tammy LoCascio	David Popwell	Erin Pryor	Anthony Restel
Deputy Chief Credit	Chief Operating	President,	Chief Marketing	President,
Officer	Officer	Specialty Banking	Officer	Regional Banking

Mohan Sankararaman	Susan Springfield	Vernon Stafford Jr.	Charles T. Tuggle Jr.
Chief Information Officer	Chief Credit Officer	Chief Audit Executive	General Counsel

Executive Leadership Statistics

43% have held client-facing	15 years average	25 years average
roles in their careers	tenure with the Bank	banking experience

As of 4/15/2024 Thomas Hung joined the executive leadership team and will succeed Susan Springfield following her retirement in late 2024.

8 | First Horizon Corporation

Here for our Communities

Here for our Environment

Governance and Ethics

Who We Are

Our 12-State Banking Center Footprint

Headquarters - Memphis, TN

Mortgage offices and one banking center in New York not shown. As of 1Q24.

Banking Centers

418

Assets

$81.8B

Figures and balances as of March 31, 2024.

By the Numbers

Banking Center States

12

Loans

$61.8B

Associates

~7,300

Deposits

$65.7B

2023 Corporate Social Responsibility Impact Report | 9

toc

About First Horizon	Here for our Clients	Here for our Associates

Financial Highlights

In 2023, the strength and stability of our 160-year-old company positioned us to successfully navigate changing economic environments and turmoil in the banking industry. Throughout the year, our associates leveraged our strong capital and diversified liquidity position to continuously serve and support our clients. Our Company delivered stable adjusted pre-provision net revenue year over year, and we managed our balance sheet for safety and soundness, including maintaining a smaller securities portfolio relative to peers with a focus on interest rate risk and liquidity.

2023 Performance Highlights

• Diversified Business Model - Demonstrated ability to perform through the economic cycle with adjusted pre- tax pre-provision in 2023 consistent with 2022. Benefited from asset sensitivity with 32 basis points of non- interest margin expansion in 2023.
• Prudent Risk Management - Generated 123 basis points of CET1 over the course of 2023. Strong CET1 ratio of 11.4% and TBV per share increased 19% in 2023.
• Attractive Southeast Footprint - Deposit growth of 4% significantly outperformed an industry decline of 2%, while loan growth of 5% outpaced 2% industry growth1.
• Extraordinary Client Base - We have long tenured, deep relationships with our clients; retained +90% of the client base in 2023, which has 9+ years of tenure at the Bank.

1FHN data presented for the year 2023 or as of 12/31/2023, as applicable. Source for industry data: H8 data series of the Federal Reserve Board, 12/28/22 to 12/27/23. 2Adjusted financial measures, including measures excluding deferred compensation, are Non-GAAP and are reconciled to GAAP measures in the appendix.

2023

Financial Highlights

ROCE	11.0	%
ROTCE2	14.1	%
ADJUSTED ROTCE2	13.0	%
ROA		1.1	%
ADJUSTED ROA2		1.1	%
DILUTED EPS	$	1.54
ADJUSTED EPS2	$	1.43

10 | First Horizon Corporation