Regions Financial Corporation Announces Redemption of All Outstanding Depositary Shares Representing Interests in Series B Preferred Stock

All 20,000,000 Depositary Shares will be redeemed at a redemption price of $25 per Depositary Share on Sept. 16, 2024.

Regions Financial Corporation (NYSE:RF) today announced the redemption on Sept. 16, 2024 (the “Redemption Date”) of 20,000,000 depositary shares (NYSE: RFPrB; CUSIP: 7591EP 506; ISIN: US7591EP5063) (the “Depositary Shares”) representing interests in Regions’ 6.375% Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series B (the “Series B Preferred Stock”). Each Depositary Share represents a 1/40^th interest in a share of the Series B Preferred Stock. All 20,000,000 Depositary Shares currently outstanding will be redeemed on the Redemption Date. On and after the Redemption Date, no Depositary Shares or shares of Series B Preferred Stock will remain outstanding and dividends in respect of the Series B Preferred Stock will no longer accrue.

The Depositary Shares will be redeemed at a redemption price of $25 per Depositary Share (equivalent to $1,000 per share of Series B Preferred Stock) (the “Redemption Price”). The regular quarterly dividend on the Depositary Shares was separately declared and will be paid immediately prior to the redemption of the Depositary Shares on the Redemption Date to holders of record on the record date for such dividend payment in the customary manner. Accordingly, the Redemption Price does not include any accrued and unpaid dividends.

Simultaneously with the redemption of the Series B Preferred Stock, the outstanding Depositary Shares will be redeemed on the Redemption Date in accordance with the applicable procedures of Broadridge Corporate Issuer Solutions, LLC (“Broadridge”), for an amount per Depositary Share equal to the Redemption Price. All Depositary Shares are held in book-entry form through Broadridge. Broadridge’s contact information is as follows:

51 Mercedes Way

Edgewood, NY 11717

1-631-392-5830

Investors in the Depositary Shares should contact the bank or broker through which they hold a beneficial interest in the Depositary Shares for information about obtaining the Redemption Price for the shares of Depositary Shares in which they have a beneficial interest.

About Regions Financial Corporation

Regions Financial Corporation (NYSE:RF), with $154 billion in assets, is a member of the S&P 500 Index and is one of the nation’s largest full-service providers of consumer and commercial banking, wealth management, and mortgage products and services. Regions serves customers across the South, Midwest and Texas, and through its subsidiary, Regions Bank, operates approximately 1,250 banking offices and more than 2,000 ATMs. Regions Bank is an Equal Housing Lender and Member FDIC. Additional information about Regions and its full line of products and services can be found at www.regions.com.

Forward-Looking Statements

This release may include forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, which reflect Regions’ current views with respect to future events and financial performance. The words “future,” “anticipates,” “assumes,” “intends,” “plans,” “seeks,” “believes,” “predicts,” “potential,” “objectives,” “estimates,” “expects,” “targets,” “projects,” “outlook,” “forecast,” “would,” “will,” “may,” “might,” “could,” “should,” “can,” and similar expressions often signify forward-looking statements. Forward-looking statements are not based on historical information, but rather are related to future operations, strategies, financial results, or other developments. Forward-looking statements are based on management’s expectations as well as certain assumptions and estimates made by, and information available to, management at the time the statements are made, and are subject to various known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially from the views, beliefs, and projections expressed in such statements. Factors that may cause actual results to differ from those described in forward-looking statements include those risks and other factors identified in Regions’ Annual Report on Form 10-K for the year ended December 31, 2023, and in Regions’ subsequent filings with the Securities and Exchange Commission. You should not place undue reliance on any forward-looking statements, which speak only as of the date made. Regions assumes no obligation and does not intend to update or revise any forward-looking statements that are made from time to time.

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