Pinnacle (PNFP) closes Synovus deal, sets 9–11% loan growth, $0.50 dividend

Rhea-AI Filing Summary

Pinnacle Financial Partners (PNFP) completed the merger with Synovus, closing on January 1, 2026 after a 160‑day integration period and entered 2026 as a combined franchise.

Legacy Pinnacle reported $119 billion assets, $84 billion loans and $99 billion deposits (as of Dec. 31, 2025), diluted EPS of $8.07 and adjusted diluted EPS of $8.37 (+22%). Management forecasts 2026 loan growth 9–11%, deposit growth 8–10%, a $0.50 quarterly dividend and up to $400 million in share repurchases.

Insights

Corporate Finance Strategist

Merger accelerates scale while targeting measurable cost and revenue milestones.

The combination closed on January 1, 2026 after a 160‑day process, and management expects to realize at least 40% of merger‑related expense savings while capturing revenue synergies. Forecasted loan growth of 9–11% and deposit growth of 8–10% underpin the revenue plan.

Key execution risks include integration of systems ahead of the March 2027 conversion and delivering the stated expense savings. Subsequent filings will show realized savings, synergy timing and quarterly progress against the $400M repurchase authorization.

Key Figures

Assets: $119 billion Loans: $84 billion Deposits: $99 billion +5 more

8 metrics

Assets $119 billion Legacy Pinnacle as of Dec. 31, 2025

Loans $84 billion Legacy Pinnacle as of Dec. 31, 2025

Deposits $99 billion Legacy Pinnacle as of Dec. 31, 2025

Diluted EPS $8.07 2025 diluted earnings per share

Adjusted diluted EPS $8.37 2025 adjusted diluted EPS (+22% vs. prior year)

Net charge‑offs 0.21% Net charge‑offs / average loans, 2025

2026 loan growth guidance 9–11% Projected period‑end loan growth for 2026

Share repurchase authorization $400 million Maximum authorized repurchases, 2026

Key Terms

Adjusted diluted EPS, Common Equity Tier 1 ratio, Revenue synergies, Community Development Lending

4 terms

Adjusted diluted EPS financial

"adjusted diluted EPS2 reached $8.37, representing a 22% increase"

Adjusted diluted EPS is a company’s profit per share after adding back or removing one-time items (like restructuring costs or gains) and dividing by the number of shares including potential shares from options and convertible securities. Investors use it as a cleaner view of ongoing earnings—like looking at a car’s regular fuel efficiency rather than a trip boosted by downhill coasting—to judge underlying performance and compare companies without temporary distortions.

Common Equity Tier 1 ratio regulatory

"Common Equity Tier 1 ratio increased to 10.88%"

The common equity tier 1 ratio is a measure of a bank's financial strength, showing how much high-quality core capital it has compared to its total risk-weighted assets. Think of it as a safety buffer or cushion that helps ensure the bank can withstand economic shocks. For investors, a higher ratio indicates a stronger, more resilient bank, making it a key indicator of its financial health.

Revenue synergies financial

"capturing revenue synergies, realizing at least 40% of merger-related expense savings"

Revenue synergies are the extra sales or income expected when two businesses combine, achieved by selling each other’s products to new customers, using a wider distribution network, or charging higher prices. Investors watch them because these projected gains can make a deal more valuable and lift future profits, but they are estimates rather than guarantees—like expecting two small stores to sell more when they share space and customers, not a certainty.

Community Development Lending other

"Originated in Community Development Lending Includes Multifamily Project Loans"

Pinnacle Financial Partners 3400 Overton Park Drive, Southeast Atlanta, GA 30339 706.641.6500 www.pnfp.com 2025 ANNUAL REPORT Pinnacle celebrated 25 years since its founding in Nashville, Tennessee, while at the same time preparing for a merger that would ensure its people-centric approach continues into the future. In a remarkable display of partnership, teams from Pinnacle and Synovus came together throughout the second half of the year to learn, plan, celebrate and build the fellowship that allowed the merger to close in just 160 days. Congratulations, team. HERE’S TO THE FUTURE

Pinnacle Financial Partners 3400 Overton Park Drive, Southeast Atlanta, GA 30339 706.641.6500 www.pnfp.com 2025 ANNUAL REPORT Pinnacle celebrated 25 years since its founding in Nashville, Tennessee, while at the same time preparing for a merger that would ensure its people-centric approach continues into the future. In a remarkable display of partnership, teams from Pinnacle and Synovus came together throughout the second half of the year to learn, plan, celebrate and build the fellowship that allowed the merger to close in just 160 days. Congratulations, team. HERE’S TO THE FUTUREPi nacle Financial Partners 3400 Overton Park Drive, Southeast Atlanta, GA 30339 70 .641.6500 w.pnfp.com 2025 ANNUAL REPORT Pinnacle c lebrated 25 year since its founding in Nashville, Tennessee, while at the same time preparing for a merger that would ensure its people-centric approach continues into the f ture. In a remarkable display of partnership, teams from Pinnacle and Synovus came together throughout the second half of the year to learn, plan, c lebrate and build the fellowship that allowed the merger to close in just 160 days. Congratulations, team. HERE’S TO THE FUTURE

INVESTOR RELATIONS Shareholders and others seeking a copy of the firm’s public filings should visit the investor relations section of our website at www.pnfp.com or contact: Jennifer Demba Senior Director, Investor Relations Pinnacle Financial Partners, Inc. 3400 Overton Park Drive, SE, 4th Floor Atlanta, GA 30339 706.641.6500 Email: investorrelations@pnfp.com CAUTIONARY LANGUAGE REGARDING FORWARD‑LOOKING STATEMENTS This annual report to shareholders contains forward‑looking statements, which by their nature involve risks and uncertainties. Please refer to the enclosed Forms 10‑K of Legacy Pinnacle and Synovus for information concerning forward‑looking statements, under the caption “Forward‑Looking Statements,” and for a description of certain factors that may cause actual results to differ from goals referred to herein or contemplated by such statements. SHAREHOLDER SERVICES Shareholders requiring assistance should contact our transfer agent, Broadridge Corporate Issuer Solutions: U.S. Mail ‑ Registered or Overnight 51 Mercedes Way Edgewood, NY 11717 Telephone Inquiries 1.888.777.0322 Website www.shareholder.broadridge.com/PNFP Pinnacle Financial Partners Board of Directors From Our Board Chair It’s been 26 years since a small group of us came together with a simple but deeply held conviction: that a financial services firm built on distinctive service and effective advice could create long‑term value for shareholders, meaningful opportunity for team members and enduring impact in the communities we serve. In those early days, we did not have scale or brand recognition. What we had was belief. We believed that if we could attract the best people, align them around the right measures of success and empower them to serve clients without bureaucracy, the results would follow. We believed that expectations shape behavior and that if we consistently aimed for top‑quartile performance in revenue growth and earnings growth, we would compound value over time. All these years later, the evidence speaks for itself. Now, with the successful combination of Pinnacle and Synovus, we begin a new chapter. We are larger in scale, broader in reach and deeper in talent. Yet the principles that built this firm remain unchanged. We will continue to differentiate ourselves through service and advice. We will continue to align incentives around the metrics that matter most to value creation. We will continue to set high expectations and hold ourselves accountable to them. My role in that has changed, but my commitment has not. As board chair, I am privileged to help steward the legacy we have built and to ensure that the culture, alignment and discipline that defined our first quarter century continue to propel us forward. Kevin and his leadership team are fully equipped to lead this next phase of growth, and the board’s responsibility is to support them, challenge them and safeguard what makes this firm distinctive. When I look back, I feel profound gratitude — for our founder group, for the very first associates who took a chance on a new idea and for the clients who trusted us with their businesses and their futures. When I look ahead, I feel something equally strong: optimism. We have proven that this model works. We have demonstrated that you can grow rapidly while maintaining strong credit discipline and a values‑driven culture. And we now have the opportunity to extend that model across an even broader footprint in some of the most dynamic markets in the country. The best chapters of Pinnacle’s story have always been written by our people. I am confident that as we move forward together, the next chapters will be even stronger than the first. With gratitude and confidence in what lies ahead, Terry Turner Chair, Board of Directors Pinnacle Financial Partners Learn more about our board and executive leadership team at PNFP.COM/BOARD. M. Terry Turner Founder & Chairman Tim E. Bentsen Lead Director Kevin S. Blair President and CEO, Director Abney S. Boxley Director Gregory L. Burns Director Pedro Cherry Director Thomas C. Farnsworth, III Director David B. Ingram Director John H. Irby Director Decosta E. Jenkins Director Robert A. McCabe, Jr. Founder, Chief Banking Officer and Director Gregory Montana Director Barry L. Storey Director G. Kennedy Thompson Director Teresa White Director Pinnacle leaders at the New York Stock Exchange rang opening bell to celebrate merger close. Front row, left to right: Charissa Sumerlin, Robert A. McCabe Jr., Harold R. Carpenter Jr., M. Terry Turner, Kevin S. Blair, Jamie Gregory, Chris Taylor (NYSE), Shellie Creson, Jennifer S. Upshaw. Back row, left to right: Dana M. Sanders, Summer Yeiser, Zack Bishop, Allan E. Kamensky, Liz Wolverton, Matt Paluch, Kevin J. Howard. ANNUAL MEETING OF SHAREHOLDERS The Annual Meeting of Shareholders will be held in a virtual meeting format and will begin at 10:00 a.m. ET on Thursday, May 21, 2026. Further information regarding this meeting can be found in the firm’s proxy statement for the 2026 Annual Meeting.

INVESTOR RELATIONS Shareholders and others seeking a copy of the firm’s public filings should visit the investor relations section of our website at www.pnfp.com or contact: Jennifer Demba Senior Director, Investor Relations Pinnacle Financial Partners, Inc. 3400 Overton Park Drive, SE, 4th Floor Atlanta, GA 30339 706.641.6500 Email: investorrelations@pnfp.com CAUTIONARY LANGUAGE REGARDING FORWARD‑LOOKING STATEMENTS This annual report to shareholders contains forward‑looking statements, which by their nature involve risks and uncertainties. Please refer to the enclosed Forms 10‑K of Legacy Pinnacle and Synovus for information concerning forward‑looking statements, under the caption “Forward‑Looking Statements,” and for a description of certain factors that may cause actual results to differ from goals referred to herein or contemplated by such statements. SHAREHOLDER SERVICES Shareholders requiring assistance should contact our transfer agent, Broadridge Corporate Issuer Solutions: U.S. Mail ‑ Registered or Overnight 51 Mercedes Way Edgewood, NY 11717 Telephone Inquiries 1.888.777.0322 Website www.shareholder.broadridge.com/PNFP From Our Board Chair It’s been 26 years since a small group of us came together with a simple but deeply held conviction: that a financial services firm built on distinctive service and effective advice could create long‑term value for shareholders, meaningful opportunity for team members and enduring impact in the communities we serve. In those early days, we did not have scale or brand recognition. What we had was belief. We believed that if we could attract the best people, align them around the right measures of success and empower them to serve clients without bureaucracy, the results would follow. We believed that expectations shape behavior and that if we consistently aimed for top‑quartile performance in revenue growth and earnings growth, we would compound value over time. All these years later, the evidence speaks for itself. Now, with the successful combination of Pinnacle and Synovus, we begin a new chapter. We are larger in scale, broader in reach and deeper in talent. Yet the principles that built this firm remain unchanged. We will continue to differentiate ourselves through service and advice. We will continue to align incentives around the metrics that matter most to value creation. We will continue to set high expectations and hold ourselves accountable to them. My role in that has changed, but my commitment has not. As board chair, I am privileged to help steward the legacy we have built and to ensure that the culture, alignment and discipline that defined our first quarter century continue to propel us forward. Kevin and his leadership team are fully equipped to lead this next phase of growth, and the board’s responsibility is to support them, challenge them and safeguard what makes this firm distinctive. When I look back, I feel profound gratitude — for our founder group, for the very first associates who took a chance on a new idea and for the clients who trusted us with their businesses and their futures. When I look ahead, I feel something equally strong: optimism. We have proven that this model works. We have demonstrated that you can grow rapidly while maintaining strong credit discipline and a values‑driven culture. And we now have the opportunity to extend that model across an even broader footprint in some of the most dynamic markets in the country. The best chapters of Pinnacle’s story have always been written by our people. I am confident that as we move forward together, the next chapters will be even stronger than the first. With gratitude and confidence in what lies ahead, Terry Turner Chair, Board of Directors Pinnacle Financial Partners ANNUAL MEETING OF SHAREHOLDERS The Annual Meeting of Shareholders will be held in a virtual meeting format and will begin at 10:00 a.m. ET on Thursday, May 21, 2026. Further information regarding this meeting can be found in the firm’s proxy statement for the 2026 Annual Meeting. Pinnacle Financial Partners Board of Directors Learn more about our board and executive leadership team at PNFP.COM/BOARD. M. Terry Turner Founder & Chairman Tim E. Bentsen Lead Director Kevin S. Blair President and CEO, Director Abney S. Boxley Director Gregory L. Burns Director Pedro Cherry Director Thomas C. Farnsworth, III Director David B. Ingram Director John H. Irby Director Decosta E. Jenkins Director Robert A. McCabe, Jr. Founder, Chief Banking Officer and Director Gregory Montana Director Barry L. Storey Director G. Kennedy Thompson Director Teresa White Director Pinnacle leaders at the New York Stock Exchange rang opening bell to celebrate merger close. Front row, left to right: Charissa Sumerlin, Robert A. McCabe, Jr., Harold R. Carpenter, Jr., M. Terry Turner, Kevin S. Blair, Andrew Jamieson Gregory, Jr., Chris Taylor (NYSE), Shellie Creson, Jennifer S. Upshaw. Back row, left to right: Dana M. Sanders, Summer Yeiser, Zack Bishop, Allan E. Kamensky, Liz Wolverton, Matt Paluch, Kevin J. Howard.

DEAR SHAREHOLDERS In moments like this, the temptation is to play defense, say less and manage perceptions. We are doing the opposite. We are, and will continue to be, direct about what we see, believe and build. Pinnacle is choosing to lead. Even now, our winning formula remains unchanged, rooted in age-old disciplines executed relentlessly well: build the best team, deliver exceptional client experiences and earn loyalty that drives deeper client relationships and greater share of wallet. The best talent is drawn to organizations that execute and invest for the long term, creating an advantage that accelerates market share gains and client expansion. While this formula sounds simple, it is difficult to deliver consistently. Pinnacle has a long track record of doing so. The result is consistent client growth and a proven track record of attracting top bankers. In 2025, Pinnacle once again delivered outstanding financial purpose We enable people to reach their full potential. vision To be the best financial services firm and the best place to work in the country. mission • Provide distinctive service and effective advice. • Enrich team members personally, professionally and financially. • Make a significant positive impact on the community. • Create outstanding long-term value for shareholders. THIS IS AN EXTRAORDINARY MOMENT FOR BANKING. THE WORLD IS MOVING FASTER THAN EVER, DRIVEN BY INNOVATION AND RISING EXPECTATIONS. TECHNOLOGY IS TRANSFORMING MONEY MOVEMENT, REINFORCING THE INTEGRITY OF THE FINANCIAL SYSTEM AND REDEFINING HOW WE WORK EVERY DAY. IN THIS ENVIRONMENT, SHIFTING RATES, INFLATION DYNAMICS AND GLOBAL EVENTS DON’T JUST CREATE UNCERTAINTY, THEY UNDERSCORE THE VALUE OF STRONG FUNDAMENTALS, PRUDENT RISK MANAGEMENT AND ADAPTABLE BUSINESS MODELS. Values Actions count – not what’s on paper. Pinnacle is a values-driven organization. From our hiring philosophy to our client service, our goal is to demonstrate our values in every interaction. performance, including strong earnings growth, above-peer balance sheet expansion and industry- leading client engagement.

We celebrated 25 years of building a growth model anchored in local leadership and client loyalty. The most defining step in that journey was announcing the merger with Synovus Financial Corp., uniting two high‑performing Southeastern regional banks under the Pinnacle name, operating model and brand. This merger brings scale with purpose, positioning us to compete more aggressively in some of the fastest‑growing markets in the country. But let me be clear about what this combination is and is not. We are not focused on growth for growth’s sake. We are focused on being the bank we’ve always been, only better — for clients who want a bank that can deliver more sophisticated solutions through relationships, not just transactions; for team members who deserve to love where they work; for communities that need decision‑makers with local roots; for shareholders who want sustainable, through‑the‑cycle performance. The combined company will preserve what has always made Pinnacle special, maintaining a decentralized, relationship‑driven approach while adding talent, reach and capabilities that expand what we can do for the people and businesses we serve. At the core, people matter more than ever. While banking has evolved through digital transformation and AI, relationships remain the differentiator. Technology brings convenience, but human connections make banking meaningful. Our strategy is high-tech meets high-touch, making culture central. As we integrate, we will measure success by financial outcomes and how we deepen trust with clients, strengthen the team member experience and build long-term franchise value. As I step into the role of CEO, I do so with deep respect for what Pinnacle has built and with a sense of familiarity that made this combination feel natural from the beginning. At Synovus, we shared many of the same convictions as Pinnacle. Local leadership matters. Culture drives performance. Empowering great people to serve clients exceptionally well creates long-term value. Those shared beliefs made this merger compelling and gave me confidence in stewarding the Pinnacle model forward. I am not here to change what works. I am here to scale it, strengthen it and ensure it endures. Therefore, this letter starts with a commitment. We will respond to a changing environment, act with discipline and win by earning the loyalty of team members and clients, one relationship at a time. 2025 LEGACY PINNACLE FINANCIAL PERFORMANCE 2025 was a year that tested discipline and rewarded it. Against a backdrop of economic uncertainty and the complexity of preparing for a transformational merger, Pinnacle delivered another year of standout financial performance. That consistency is deliberate. It reflects a business model built to perform through cycles while locally led to keep accountability close Pinnacle1 $119 BILLION Assets $84 BILLION Loans $99 BILLION Deposits ~400 Offices Across the Southeast and Mid-Atlantic   Combined Branch Map  Great Place to Work® 2025 list of 100 Best Companies to Work For® in the U.S., the 9th consecutive appearance. No. 9 among America’s Best Banks to Work For in 2025 by American Banker, 13th consecutive year on the list, and No. 1 among banks with $10 billion+ in assets.  No. 4 32 Coalition Greenwich 2026 Best Bank Awards No. 1 in the nation Synovus earned 18 Coalition Greenwich Best Bank Awards 32 Engaged clients Enriched shareholders Excited Team Members Three pillars of the pinnacle strategy 1 As of Dec. 31, 2025, based upon the metrics of Legacy Pinnacle and Synovus immediately prior to the merger. 2025 performance information for Synovus Financial Corp. is found in the Form 10-K following this shareholder letter.

Our consistent hiring strategy continues to win market share from vulnerable competitors. Eight Pinnacle markets had double-digit deposit growth from 2024 to 2025, and three saw triple-digit growth. This is the compounding effect of investing ahead of demand and empowering local leaders to win. *Legacy Pinnacle MSAs according to FDIC data as of June 30, 2025. Deposit Market Share* MSAs where we grew market share MSAs where we grew deposits *According to FDIC deposit data for the 12 months ended June 30 of the applicable year. Legacy Pinnacle 2025 Results to the client. These fundamentals powered strong results in 2025 and position us well as build the next chapter of Pinnacle. Diluted earnings per share were $8.07, while adjusted EPS2 reached $8.37, representing a 22% increase from the prior year. Total revenue increased 18%, and adjusted revenue taxable equivalent2 grew 16%, outpacing 15% growth in adjusted noninterest expense2. Taxable equivalent net interest income increased 14%, supported by above-peer balance sheet expansion, including 10% growth in period‑end loans and an 11% increase in period-end deposits. Noninterest revenue was a particular source of strength. Reported noninterest revenue increased 37%, while adjusted noninterest revenue2 grew 21%, driven by higher service charges on deposit accounts, strong wealth management income and continued contribution from BHG‑related fees. Together, these results reflect both the diversity of our revenue streams and the effectiveness of our growth strategy. Investment in banking talent remained a key engine of growth in 2025. Pinnacle added 134 new revenue- producing team members during the year, with a concentration in targeted expansion markets and specialty banking, including Atlanta, Georgia; Washington, D.C.; Jacksonville, Florida; and Richmond, Virginia. Together, Pinnacle and Synovus added 217 new revenue producers in 2025, an investment that reinforces near-term momentum in taking market share from competitors and long-term franchise value. It also strengthens our credit position, enabling careful client selection as new team members bring their strongest clients to our firm. Credit performance remained solid throughout the year, and our capital position continued to strengthen. Net charge‑offs totaled 0.21% of average loans, improving from 0.23% in 2024, while the Common Equity Tier 1 ratio increased to 10.88%. PINNACLE’S 25TH ANNIVERSARY In October 2025, Pinnacle marked its 25th anniversary by reaffirming the belief that built this firm in the first place: people matter. Founders Terry Turner, Rob McCabe, Hugh Queener and a group of local business leaders launched Pinnacle in 1999 because they believed Nashville deserved a bank rooted in local decision‑making, personal service and real relationships. From the very beginning, the vision was to be the best. They created a firm where team members are empowered, clients are truly known and communities are served by leaders who live where they work. Hear Pinnacle’s founders share the full story of the early days and the success they’ve built since then at PNFP.com/25years. +35% Diluted EPS Net Charge-Offs/Average Loans 0.21% Vs. 0.23% in 2024 Common Equity Tier 1 Ratio at Year-End 2025 10.88%, +8bps Vs. Year-End 2024  +22% Adjusted Diluted EPS2 +16% Adjusted Revenue Taxable Equivalent2 Revenue Producer Hires  134 10 19 15 20 19 19 2021 2022 2023 21 20 2024 22 23 2025 2 Non-GAAP financial measure; see enclosed Forms 10-K for Legacy Pinnacle and Synovus and the Company’s other public filings with the SEC for an applicable reconciliation. Synovus hired 83 revenue producers in 2025.

As someone new to Pinnacle but deeply familiar with its philosophy, I view this history through the lens of a steward, stepping into a model and culture I have long respected and practiced. That culture remains Pinnacle’s competitive advantage today. In 2025, our firm earned 15 workplace awards, including six national recognitions, with Great Place to Work® ranking the firm as the ninth-best company to work for in the country and the third-best financial services firm. Clients continue to notice the difference as well. Crisil Coalition Greenwich recently awarded Pinnacle 32 Best Bank Awards for service provided in 2025, while Synovus received 18. Pinnacle holds the top net promoter score in our footprint, underscoring our firm’s reputation for providing the best financial service of any large bank we compete with. Over our first 25 years, this people‑first model has delivered extraordinary results. We’ve enjoyed the fastest core revenue growth, the third-highest compound core EPS growth, and second-best stock price performance3 among publicly traded banks over $10 billion in assets. MERGER WITH SYNOVUS FINANCIAL CORP. On July 24, 2025, Pinnacle announced a definitive agreement to merge with Synovus Financial Corp., a $61 billion asset regional bank with a strong presence across Georgia, Florida, South Carolina, Alabama and Tennessee. This decision was deliberate and deeply aligned on both sides, bringing together two institutions that share a belief in local leadership, disciplined execution and the enduring power of relationships. While many would describe this as a merger of equals, we view it as something more meaningful — a merger of relationships — uniting our teams under a shared ambition, common purpose and mission, and taking the best of both firms’ work environments. By bringing our clients together, we are preserving long‑standing relationships while expanding our ability to serve them through distinctive service and effective advice. Because in the end, the most successful mergers are those built on trust and relationships, not the scoreboard of who “wins” the deal. Synovus was founded in 1888 on an act of trust, when mill owner G. Gunby Jordan safeguarded a textile worker’s savings that were sewn into her hemline. He paid her interest in recognition of that trust. Over time, Synovus grew into a leading regional bank grounded in service and community because of a people‑first philosophy. That heritage has always been in our DNA, and we continue to hold it close as we combine with Pinnacle. From the outset, cultural alignment was non- negotiable. The combined company will operate under Pinnacle’s proven geographic structure, hiring model and team member‑focused compensation philosophy. These are at the core of the consistently above‑peer organic growth Pinnacle has enjoyed. Strategically, the merger expands Pinnacle’s footprint in high-growth Southeastern markets while preserving the decentralized model that differentiates the firm. The merger closed on January 1, 2026, just 160 days after announcement — a reflection of exceptional alignment, disciplined planning and coordinated execution across both organizations. Even during the integration process, Synovus delivered strong results, with 2025 diluted EPS growth of 76% and adjusted diluted EPS2 growth of 28%, supported by healthy revenue growth and strong credit quality. Meanwhile, teams from both organizations completed critical early integration milestones — including leadership and technology decisions — laying a solid foundation as we enter 2026. At its core, this merger reflects a belief that has guided my career: Scale only matters if it makes you better. This combination does exactly that by expanding what we can do for clients, creating opportunities for team members and positioning Pinnacle to lead in the next chapter of regional banking. Watch Kevin Blair with founders Terry Turner and Rob McCabe as they talk about Pinnacle’s future as a combined firm. PNFP.com/25Years. 3 Core revenue growth and core EPS growth measured from 2000-2025 and stock price performance measured from Dec. 29, 2000 - Dec. 31, 2025; Source: S&P Capital IQ.

2026 OUTLOOK In 2026, Pinnacle’s focus is clear: execute, lead and grow. As we enter our first full year post‑merger, we are not managing for stability, we are building momentum. While many mergers are slow to optimize balance sheets, we are delivering balanced but outsized loan and deposit growth, capturing revenue synergies, realizing at least 40% of merger‑related expense savings and advancing preparations for the March 2027 systems and brand conversion. Our performance underscores the power of the Pinnacle model, the effectiveness of our integration, and the shared mindset across our company to grow through relationships, not retrenchment. For 2026, we project strong period‑end loan growth of 9–11% and deposit growth of 8–10%. Robust revenue growth should also continue on a combined basis driven by balance sheet expansion and adjusted noninterest revenue2 momentum with contributions from treasury management, capital markets and wealth management. Adjusted noninterest expense2 growth is expected to be well contained due to our disciplined cost management and continued integration progress. Credit conditions remain constructive, and we expect total charge‑offs to remain near 2025 levels. Capital deployment will remain balanced and intentional with a quarterly common dividend of $0.50 per share beginning in the first quarter. In addition to our dividend, our capital priority is supporting client loan growth, and to the extent excess capital is generated, we have up to $400 million authorized for share repurchases. We expect to add approximately 250 revenue producers during the year, expanding reach and deepening client relationships across our markets. Taken together, our 2026 outlook reflects a year of disciplined execution: Keep the momentum going Bring our teams together under a unified culture and shared objectives Accelerate revenue producer hiring to support growth Put capital to work for long-term owners Stay disciplined as we grow LOOKING AHEAD As we look ahead, our confidence is rooted in fundamentals. The strategy that has carried Pinnacle through multiple cycles remains firmly intact. With the combination of Pinnacle and Synovus, we have an even greater ability to pair the resources, breadth and resilience of a larger institution with the soul of a firm that has always believed people matter most. We will not simply grow faster. We will compound our advantages by applying a proven model at a greater scale. My role is to ensure our success through discipline, clarity and purpose. As we step into this next chapter, we do so with deep appreciation for the leadership that built our foundation. I am grateful to Terry Turner, co‑founder, former CEO and current board chair, for 26 years of principled leadership that shaped Pinnacle’s culture, performance and long‑term success. I am equally grateful to Harold Carpenter, former CFO, for his disciplined, people‑centered financial stewardship and for his lasting impact on the organization. We also thank the departing directors of both Pinnacle and Synovus for their guidance and service through the successful completion of the merger. Our ambition is clear. We believe Pinnacle is the best financial services firm in the country and the best place to work in our industry. We will remain committed to attracting and empowering the best people, delivering the most exceptional client experiences, earning enduring loyalty and converting that loyalty into consistent, market‑leading growth for decades to come. Thank you for your ongoing support. Kevin S. Blair President and CEO

COMMUNITY IMPACT Every team member at Pinnacle is united around a single purpose. We enable people to reach their full potential. This commitment extends beyond the service and advice we offer clients. It shapes how we invest in communities, support historically underserved individuals and manage the resources entrusted to us. As a firm built on local leadership and decision-making, we recognize corporate responsibility is most impactful when closely aligned with its communities. With this focus, our nearly 9,000 team members in the combined Pinnacle and Synovus work together to expand access to opportunity and strengthen the economic vitality of the Southeast. Our community impact strategy centers on creating pathways to prosperity for as many people as possible. We prepare people to participate fully in the economy and build lasting wealth for future generations. These are a few of the tangible outcomes from this effort. $6 million in Direct Giving to Nonprofits Sustainability Advancements • 4% reduction in Scope 1 and Scope 2 emissions since 2024 • 12% reduction in electricity consumption since 2022 • 41% of square footage is LEED, WELL or Energy Star Certified • 32 EV chargers across the footprint • 1.2 million lbs. of shredded and recycled paper ~$286 million Low Income Housing Tax Credit $106,260 Jack Parker Scholarships 26,000 Team Member Volunteer Hours $488 million Originated in Community Development Lending Includes Multifamily Project Loans Originated - $410 million

Renewable Energy Finance • 15 utility-scale solar projects in TN, MS, SC and TX • Combined generating capacity of 392 megawatts • $116 million in solar loans closed • $243 million in solar leases closed • $98 million in solar partnership tax equity closed $2.1 billion 25,064 Team Member Volunteer Hours to 1,354 organizations $9.9 million in Direct Giving to Nonprofits $1.2 billion in Community Development Investment $45,650 in Affordable Home Ownership: Down Payment Assistance 2,004 loans worth $287 million in Affordable Home Ownership: Lending • $279.1 million in 1,327 mortgages and home equity lines of credit • $7.9 million in 677 down payment assistance loans $383 million Community Investment Tax Credit + 16.3 million Freddie Mac in Multifamily Lending 133 loans worth $171 million in Small Business Administration Lending • No. 1 in TN, No. 5 in NC, No. 7 in SC, No. 43 nationwide committed to investments and lending for low- to moderate-income housing, small business and institutions serving underserved communities, as well as grants to nonprofits, including:

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INVESTOR RELATIONS Shareholders and others seeking a copy of the firm’s public filings should visit the investor relations section of our website at www.pnfp.com or contact: Jennifer Demba Senior Director, Investor Relations Pinnacle Financial Partners, Inc. 3400 Overton Park Drive, SE, 4th Floor Atlanta, GA 30339 706.641.6500 Email: investorrelations@pnfp.com CAUTIONARY LANGUAGE REGARDING FORWARD‑LOOKING STATEMENTS This annual report to shareholders contains forward‑looking statements, which by their nature involve risks and uncertainties. Please refer to the enclosed Forms 10‑K of Legacy Pinnacle and Synovus for information concerning forward‑looking statements, under the caption “Forward‑Looking Statements,” and for a description of certain factors that may cause actual results to differ from goals referred to herein or contemplated by such statements. SHAREHOLDER SERVICES Shareholders requiring assistance should contact our transfer agent, Broadridge Corporate Issuer Solutions: U.S. Mail ‑ Registered or Overnight 51 Mercedes Way Edgewood, NY 11717 Telephone Inquiries 1.888.777.0322 Website www.shareholder.broadridge.com/PNFP Pinnacle Financial Partners Board of Directors From Our Board Chair It’s been 26 years since a small group of us came together with a simple but deeply held conviction: that a financial services firm built on distinctive service and effective advice could create long‑term value for shareholders, meaningful opportunity for team members and enduring impact in the communities we serve. In those early days, we did not have scale or brand recognition. What we had was belief. We believed that if we could attract the best people, align them around the right measures of success and empower them to serve clients without bureaucracy, the results would follow. We believed that expectations shape behavior and that if we consistently aimed for top‑quartile performance in revenue growth and earnings growth, we would compound value over time. All these years later, the evidence speaks for itself. Now, with the successful combination of Pinnacle and Synovus, we begin a new chapter. We are larger in scale, broader in reach and deeper in talent. Yet the principles that built this firm remain unchanged. We will continue to differentiate ourselves through service and advice. We will continue to align incentives around the metrics that matter most to value creation. We will continue to set high expectations and hold ourselves accountable to them. My role in that has changed, but my commitment has not. As board chair, I am privileged to help steward the legacy we have built and to ensure that the culture, alignment and discipline that defined our first quarter century continue to propel us forward. Kevin and his leadership team are fully equipped to lead this next phase of growth, and the board’s responsibility is to support them, challenge them and safeguard what makes this firm distinctive. When I look back, I feel profound gratitude — for our founder group, for the very first associates who took a chance on a new idea and for the clients who trusted us with their businesses and their futures. When I look ahead, I feel something equally strong: optimism. We have proven that this model works. We have demonstrated that you can grow rapidly while maintaining strong credit discipline and a values‑driven culture. And we now have the opportunity to extend that model across an even broader footprint in some of the most dynamic markets in the country. The best chapters of Pinnacle’s story have always been written by our people. I am confident that as we move forward together, the next chapters will be even stronger than the first. With gratitude and confidence in what lies ahead, Terry Turner Chair, Board of Directors Pinnacle Financial Partners Learn more about our board and executive leadership team at PNFP.COM/BOARD. M. Terry Turner Founder & Chairman Tim E. Bentsen Lead Director Kevin S. Blair President and CEO, Director Abney S. Boxley Director Gregory L. Burns Director Pedro Cherry Director Thomas C. Farnsworth, III Director David B. Ingram Director John H. Irby Director Decosta E. Jenkins Director Robert A. McCabe, Jr. Founder, Chief Banking Officer and Director Gregory Montana Director Barry L. Storey Director G. Kennedy Thompson Director Teresa White Director Pinnacle leaders at the New York Stock Exchange rang opening bell to celebrate merger close. Front row, left to right: Charissa Sumerlin, Robert A. McCabe Jr., Harold R. Carpenter Jr., M. Terry Turner, Kevin S. Blair, Jamie Gregory, Chris Taylor (NYSE), Shellie Creson, Jennifer S. Upshaw. Back row, left to right: Dana M. Sanders, Summer Yeiser, Zack Bishop, Allan E. Kamensky, Liz Wolverton, Matt Paluch, Kevin J. Howard. ANNUAL MEETING OF SHAREHOLDERS The Annual Meeting of Shareholders will be held in a virtual meeting format and will begin at 10:00 a.m. ET on Thursday, May 21, 2026. Further information regarding this meeting can be found in the firm’s proxy statement for the 2026 Annual Meeting.

Pinnacle Financial Partners 3400 Overton Park Drive, Southeast Atlanta, GA 30339 706.641.6500 www.pnfp.com 2025 ANNUAL REPORT Pinnacle celebrated 25 years since its founding in Nashville, Tennessee, while at the same time preparing for a merger that would ensure its people-centric approach continues into the future. In a remarkable display of partnership, teams from Pinnacle and Synovus came together throughout the second half of the year to learn, plan, celebrate and build the fellowship that allowed the merger to close in just 160 days. Congratulations, team. HERE’S TO THE FUTUREPi nacle Financial Partners 34 0 Overton Park Drive, Southeast Atlanta, GA 30 39 70 .641.65 0 w.pnfp.com 2025 ANNUAL REPORT Pi nacle c lebrated 25 year since its founding in Nashville, Te ne s e, while a the same time preparing for a merger that would ensure its people-centric a proach continues into the future. In a remarkable display of partnership, teams from Pi nacle and Synovus came together throughou the second half of the year to learn, plan, c lebrate and build the fellowship that allowed the merger to close in just 160 days. Congratulations, team. HERE’S TO THE FUTURE

FAQ

What did the Pinnacle (PNFP) merger with Synovus accomplish?

It closed on January 1, 2026, combining scale and geographic reach under Pinnacle’s model. The filing states the deal completed 160 days after announcement with leadership and integration milestones already started.

What were Pinnacle’s headline 2025 financial metrics (PNFP)?

Legacy Pinnacle reported $119 billion in assets, $84 billion in loans and $99 billion in deposits as of Dec. 31, 2025. Diluted EPS was $8.07 and adjusted diluted EPS was $8.37 (+22% year over year).

What is Pinnacle’s guidance and capital policy for 2026 (PNFP)?

Pinnacle projects 9–11% loan growth and 8–10% deposit growth for 2026, with a quarterly dividend of $0.50 per share and up to $400 million authorized for share repurchases.

How did credit and capital metrics look for Pinnacle in 2025?

Net charge‑offs were 0.21% of average loans (improved from 0.23% in 2024) and Common Equity Tier 1 ratio was 10.88% at year‑end 2025, per the shareholder letter.