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First Horizon Corporation Announces Redemption of Series B Preferred Stock and Corresponding Series B Depositary Shares

1. FHN will redeem its 6.625% Series B Preferred Stock on August 1, 2025. 2. Each depositary share will be redeemed at $25.00, no accrued dividends included. 3. No shares of Series B Preferred Stock will remain after the redemption. 4. Regular semi-annual dividend will also be paid on the redemption date. 5. FHN manages $81.5 billion in assets and operates in 12 U.S. states.

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FAQ

Why Bullish?

This redemption of preferred shares may enhance FHN's capitalization and shareholder value, similar to past successful redemptions by other banks which led to positive stock performance.

How important is it?

The redemption showcases financial stability and the strategic management of capital, likely boosting investor confidence in FHN.

Why Short Term?

The impact is imminent with a redemption date set for 2025, affecting investor sentiment closely.

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WFCBACJPMCKEY
, /PRNewswire/ -- First Horizon Corporation (NYSE: FHN) today announced that on August 1, 2025 (the "Redemption Date"), it will redeem all outstanding shares of its 6.625% Fixed-to-Floating Non-Cumulative Perpetual Preferred Stock, Series B (the "Series B Preferred Stock"), and all related outstanding depositary shares, each representing a 1/400th interest in a share of the Series B Preferred Stock ("the Series B Depositary Shares") (NYSE: FHN PRB). After the redemptions, no shares of Series B Preferred Stock, and no Series B Depositary Shares, will remain outstanding. The redemption price will be $25.00 per Series B Depository Share, corresponding to $10,000 per share of Series B Preferred Stock. Accrued dividends will not be included in either redemption price because the Redemption Date is also a dividend payment date. The regular Series B semi-annual dividend, which was declared in April, will be paid separately in the customary manner on August 1, 2025 to shareholders of record at the close of business on July 17, 2025. Questions relating to the redemption should be directed to the redemption agent, Equiniti Trust Company LLC, at 1110 Centre Pointe Curve, Suite 101, Mendota Heights, Minnesota 55120 or by phone at 1-800-468-9716 or 1-651-450-4064. Shareholders owning depositary shares through a broker, bank or other nominee may also contact that party for information. About First Horizon  First Horizon Corp. (NYSE: FHN), with $81.5 billion in assets as of March 31, 2025, 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 www.FirstHorizon.com. FHN-G SOURCE First Horizon Corporation WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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