Pinnacle Financial Partners: Q1 2022 Investor Conference Call Slides

Call for investors

FIRST QUARTER 2022

TERRY TURNER, PRESIDENT AND CHIEF EXECUTIVE OFFICER HAROLD R. CARPENTER, EVP AND CFO

Forward-looking statements

All statements, other than statements of historical facts, 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 actual results to differ materially from the statements, including, but not limited to: (i) deterioration the financial condition of borrowers of Pinnacle Bank and its subsidiaries or BHG resulting in material increases in loan losses and provisions for such losses and, in the case of BHG, substitutions; (ii) the effects of new outbreaks of COVID-19, including actions taken by government officials to curb the spread of the virus, and the resulting impact on general economic and financial market conditions and on the business of Pinnacle Financial and its customers, results of operations, quality of assets and financial condition; (iii) greater public acceptance of booster shots of vaccines that have been developed against the virus as well as government agency decisions regarding vaccines, including recommendations for booster shots and requirements that seek to compel individuals to receive or employers to require their employees to receive the vaccine; (iv) the effectiveness of these vaccines against the virus, including new variants; (v) fluctuations or differences in interest rates on loans or deposits from those that Pinnacle Financial models or anticipates, including due to Pinnacle Bank’s inability to better match deposit rates with changes in the short-term rate environment, or which affect yield curve; (vi) the inability of Pinnacle Financial, or entities in which it has significant investments, such as BHG, to maintain the historical long-term growth rate of its or such entities’ loan portfolio; (vii) changes in loan underwriting, credit review or loss reserve policies associated with economic conditions, review findings or regulatory developments; (viii) the 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 the results of Pinnacle Financial, in particular due to the compression to the net interest margin; (x) adverse conditions in national or local economies, including Pinnacle Financial’s markets in Tennessee, North Carolina, South Carolina, Georgia, Alabama and Virginia, particularly in the markets commercial and residential real estate, including the adverse impact of inflationary pressures on our customers and their businesses; (xi) results of regulatory reviews; (xii) Pinnacle Financial’s ability to identify potential candidates for, consume and realize synergies from potential future acquisitions; (xiii) difficulties and delays in integrating acquired businesses or fully realizing the cost savings and other benefits of acquisitions; (xiv) BHG’s ability to grow its business profitably and successfully execute its business plans; (xv) risks of expanding into new geographic or product markets; (xvi) the ability to develop and retain low-cost base deposits and retain significant uninsured deposits, including during periods when Pinnacle Bank seeks to reduce the rates it pays on deposits; (xvii) any matter which would cause Pinnacle Financial to conclude that an impairment of an asset has occurred, including goodwill or other intangible assets; (xviii) the ineffectiveness of Pinnacle Bank’s hedging strategies, or the unexpected default of the counterparty or the hedging failure of the underlying hedges; (xix) reduced ability to attract additional financial advisors (or inability of such advisors to induce their clients to switch to Pinnacle Bank), to retain financial advisors (including due to the competitive environment for associates) or to attract customers of other financial institutions; (xx) deterioration in the valuation of other real estate held and increased expenses associated therewith; (xxi) inability to comply with regulatory capital requirements, including those resulting from changes in capital calculation methods, required capital maintenance levels or regulatory requests or directives, particularly if the level of real estate lending Pinnacle Bank’s applicable business operations were to exceed the percentage of total capital levels within the guidelines recommended by its regulators; (xxii) the approval of the declaration of any dividend by Pinnacle Financial’s board of directors; (xxiii) the vulnerability of Pinnacle Bank’s online banking network and portals, as well as the systems of parties with which Pinnacle Bank contracts, to unauthorized access, computer viruses, phishing schemes, spam, human error, natural disasters, power failures and other security breaches; (xxiv) the possibility of increased compliance and operational costs due to increased regulatory oversight (including by the Consumer Financial Protection Bureau), including oversight of businesses in which Pinnacle Financial or Pinnacle Bank have significant investments, like BHG, and the development of additional business and consumer banking products from Pinnacle Bank; (xxv) risks associated with Pinnacle Financial and Pinnacle Bank being a minority investor in BHG, including the risk that the owners of a majority stake in BHG decide to sell the company or some or all of their stakes in BHG (triggering a similar sale by Pinnacle Financial and Pinnacle Bank ) unless prohibited by Pinnacle Financial or Pinnacle Bank; (xxvi) changes in state and federal laws, regulations or policies applicable to banks and other financial services providers, such as 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) availability of and access to capital; (xxix) adverse outcomes (including costs, fines, reputational damage, failure to obtain necessary approvals and/or other adverse effects) resulting from current or future litigation, regulatory reviews or other legal and/or regulatory actions, including as a result of Pinnacle Bank’s decision to participate in and execute government programs related to the COVID-19 pandemic; and (xxx) general competitive, economic, political and market conditions. Other factors that may affect forward-looking statements can be found in Pinnacle Financial’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021, and subsequently filed in Quarterly Reports on Form 10-Q. and current reports on Form 8-K filed with the SEC and available on the SEC’s website athttp://www.sec.gov. Pinnacle Financial disclaims any obligation to update or revise any forward-looking statementscontained in this presentation, which speak only as of the date hereof, whether as a result of new information, future events or otherwise.

Non-GAAP Financial Matters

This presentation contains certain non-GAAP financial measures, including, but not limited to, diluted earnings per common share, PPNR, efficiency ratio and non-interest expense to average ratio. assets, excluding in some cases the impact of charges related to other real estate held, capital gains or losses on disposal of investment securities, FHLB restructuring charges, hedging termination charges and other matters for the accounting periods presented. This presentation also includes non-GAAP financial measures that exclude the impact of PPP loans. This presentation may also contain certain other non-GAAP capital ratios and performance measures that exclude the impact of goodwill and core depository 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 that collectively are less material to the non-GAAP measure as well as the impact of Pinnacle Financial Series B Preferred Shares . The presentation of 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 the non-GAAP financial measures presented in this presentation are not measures determined in accordance with GAAP and are subject to variable calculations, these non-GAAP financial measures, as presented, may not be comparable to similarly titled measures presented by other companies.

Pinnacle Financial believes that these non-GAAP financial measures facilitate period-to-period comparisons and are meaningful indications of its operating performance. In addition, because intangible assets such as goodwill and intangible base deposit, and other excluded items vary significantly from company to company, Pinnacle Financial believes that the presentation of this information enables investors to compare Pinnacle Financial’s results more easily than other companies’ results. Pinnacle Financial’s management uses this non-GAAP financial information to compare Pinnacle Financial’s operating performance for 2022 to certain periods in 2021 and internally prepared projections.

Financial Dashboard 1Q22

Key measures of success, including core loan growth, core deposit growth, net interest income growth, fee income growth and asset quality, continue to be strong.

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