Daryl N. Bible Chief Financial Officer

Investor Presentation

First Quarter

2017

• general economic or business conditions, either nationally or regionally, may be less favorable than expected, resulting in, among other things, a deterioration in credit quality and/or a reduced demand for credit, insurance or other services; • disruptions to the national or global financial markets, including the impact of a downgrade of U.S. government obligations by one of the credit ratings agencies, the adverse effects of economic instability and recessionary conditions or market

disruptions in Europe, China or other global markets, including, but not limited to the potential exit of the United Kingdom from the European Union; • changes in the interest rate environment, including interest rate changes made by the Federal Reserve or the possibility of a negative interest rate scenario, as well as cash flow reassessments may reduce net interest margin and/or the volumes

and values of loans made or held as well as the value of other financial assets held; • competitive pressures among depository and other financial institutions may increase significantly; • legislative, regulatory or accounting changes, including changes resulting from the adoption and implementation of the Dodd-Frank Act may adversely affect the businesses in which BB&T is engaged; • local, state or federal taxing authorities may take tax positions that are adverse to BB&T; • a reduction may occur in BB&T's credit ratings; • adverse changes may occur in the securities markets; • competitors of BB&T may have greater financial resources or develop products that enable them to compete more successfully than BB&T and may be subject to different regulatory standards than BB&T; • cybersecurity risks, including "denial of service," "hacking" and "identity theft," could adversely affect BB&T's business and financial performance or reputation, and BB&T could be liable for financial losses incurred by third parties due to

breaches of data shared between financial institutions; • natural or other disasters, including acts of terrorism, could have an adverse effect on BB&T, materially disrupting BB&T's operations or the ability or willingness of customers to access BB&T's products and services; • costs related to the integration of the businesses of BB&T and its merger partners may be greater than expected; • failure to execute on strategic or operational plans, including the ability to successfully complete and/or integrate mergers and acquisitions or fully achieve expected cost savings or revenue growth associated with mergers and acquisitions within

the expected time frames could adversely impact financial condition and results of operations; • significant litigation and regulatory proceedings could have a material adverse effect on BB&T; • unfavorable resolution of legal proceedings or other claims and regulatory and other governmental investigations or other inquiries could result in negative publicity, protests, fines, penalties, restrictions on BB&T's operations or ability to

expand its business and other negative consequences, all of which could cause reputational damage and adversely impact BB&T's financial conditions and results of operations; • risks resulting from the extensive use of models; • risk management measures may not be fully effective; • deposit attrition, customer loss and/or revenue loss following completed mergers/acquisitions may exceed expectations; • higher-than-expected costs related to information technology infrastructure or a failure to successfully implement future system enhancements could adversely impact BB&T's financial condition and results of operations and could result in

significant additional costs to BB&T; and • widespread system outages, caused by the failure of critical internal systems or critical services provided by third parties, could adversely impact BB&T's financial condition and results of operations.

This presentation contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, regarding the financial condition, results of operations, business plans and the future performance of BB&T. Forward-looking statements are not based on historical facts but instead represent management's expectations and assumptions regarding BB&T's business, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances difficult to predict. BB&T's actual results may differ materially from those contemplated by the forward-looking statements. Words such as "anticipates," "believes," "estimates," "expects," "forecasts," "intends," "plans," "projects," "may," "will," "should," "could," and other similar expressions are intended to identify these forward-looking statements. Such statements are subject to factors that could cause actual results to differ materially from anticipated results. While there is no assurance any list of risks and uncertainties or risk factors is complete, important factors that could cause actual results to differ materially from those in the forward-looking statements include the following, without limitation:

Forward-Looking Information

• Tangible common equity and related measures are non-GAAP measures that exclude the impact of intangible assets and their related amortization. These measures are useful for evaluating the performance of a business consistently, whether acquired or developed internally. The return on average risk-weighted assets is a non-GAAP measure. BB&T's management uses these measures to assess the quality of capital and returns relative to balance sheet risk and believes investors may find them useful in their analysis of the Corporation.

• The ratio of loans greater than 90 days and still accruing interest as a percentage of loans held for investment has been adjusted to remove the impact of loans that were covered by FDIC loss sharing agreements and purchased credit impaired ("PCI") loans as well as government guaranteed loans. Management believes their inclusion may result in distortion of these ratios such that they might not be comparable to other periods presented or to other portfolios not impacted by purchase accounting or reflective of asset collectibility.

• The adjusted efficiency ratio is non-GAAP in that it excludes securities gains (losses), amortization of intangible assets, merger-related and restructuring charges and other selected items. BB&T's management uses this measure in their analysis of the Corporation's performance. BB&T's management believes this measure provides a greater understanding of ongoing operations and enhances comparability of results with prior periods, as well as demonstrates the effects of significant gains and charges.

• Core net interest margin is a non-GAAP measure that adjusts net interest margin to exclude the impact of interest income and funding costs associated with loans and securities acquired in the Colonial acquisition and PCI loans acquired from Susquehanna and National Penn. Core net interest margin is also adjusted to remove the purchase accounting marks and related amortization for non-PCI loans, deposits and long-term debt acquired from Susquehanna and National Penn. BB&T's management believes the adjustments to the calculation of net interest margin for certain assets and deposits acquired provide investors with useful information related to the performance of BB&T's earning assets.

Non-GAAP Information

A reconciliation of these non-GAAP measures to the most directly comparable GAAP measure is included in BB&T's Fourth Quarter 2016 Quarterly Performance Summary, which is available at BBT.com.

Capital ratios are preliminary. This presentation contains financial information and performance measures determined by methods other than in accordance with accounting principles generally accepted in the United States of America ("GAAP"). BB&T's management uses these "non-GAAP" measures in their analysis of the Corporation's performance and the efficiency of its operations. Management believes these non-GAAP measures provide a greater understanding of ongoing operations and enhance comparability of results with prior periods as well as demonstrate the effects of significant gains and charges in the current period. The company believes a meaningful analysis of its financial performance requires an understanding of the factors underlying that performance. BB&T's management believes investors may use these non-GAAP financial measures to analyze financial performance without the impact of unusual items that may obscure trends in the company's underlying performance. These disclosures should not be viewed as a substitute for financial measures determined in accordance with GAAP, nor are they necessarily comparable to non-GAAP performance measures that may be presented by other companies. Below is a listing of the types of non-GAAP measures used in this news release:

3

Agenda

BB&T’s vision and mission

BB&T overview

Revenue diversification – BB&T Insurance Holdings

First quarter outlook

2016 performance vs. peers

Digital strategies

Investing in our communities and environment

Strong corporate governance

Well-positioned for the future

5

Among Leaders in Key Performance Measures

1 See non-GAAP reconciliations included in the attached Appendix Peers include CFG, CMA, FITB, HBAN, KEY, MTB, PNC, RF, STI, USB, WFC and ZION; RWA excludes MTB and WFC Source: SNL and Company Reports

Most Recent Quarter Results BB&T Peer Rank

Return on average assets Return on average tangible common equity 1

1.16% 14.91%

2 nd

2 nd

Return on risk - weighted assets 1.45% 2 nd

Net interest margin 3.32% 2 nd

GAAP efficiency Adjusted efficiency 1

61.1% 59.5%

5 th

4 th

Dividend yield 2.55% 2 nd

Nonperforming assets as a % of loan-related assets 0.57% 1 st

6

BB&T is…

A values-driven highly profitable growth organization. While we have had a very successful merger history, our primary focus is on organic growth; nonetheless, we are well positioned for strategic opportunities.

Our fundamental strategy is to deliver the best value proposition in our markets. Recognizing value is a function of quality to price, our focus is on delivering high quality client service resulting in the Perfect Client Experience.

Our over-arching purpose is to achieve our vision and mission, consistent with our values, with the ultimate goal of maximizing shareholder returns.

7 1 Excludes home office deposits 2 Deposit Market Share data as of December 31, 2016 Source: FactSet, FDIC, SNL DataSource

State # of Branches Deposits2 State

Rank

North Carolina1 352 $ 28.7 bn

Virginia 344 $ 22.6 bn

Florida 318 $ 17.5 bn

Pennsylvania 262 $ 14.8 bn

Georgia 155 $ 12.4 bn

Maryland 165 $ 10.1 bn

South Carolina 111 $ 7.9 bn

Kentucky 110 $ 6.3 bn

Texas 124 $ 5.8 bn

West Virginia 73 $ 5.0 bn

Alabama 84 $ 4.0 bn

New Jersey 33 $ 2.5 bn

Tennessee 48 $ 2.4 bn

District of Columbia 13 $ 1.2 bn

Indiana 2 NM

Ohio 2 NM

Total # of Branches 2,196

BB&T Corporation: A Growing Franchise 8th Largest U.S. Financial Institution2

15 7

NM

4 2

7 4

2 15

3

5 1

5

NM

6

9

8

Premier Model for Community Banking…

26 Banking Regions

Local decision-making

Centralized support system

Foundation for our relationship management culture model

… and Diverse Non-Bank Businesses

9

Diversification Drives Revenue and Productivity

**Based on segment revenues, excluding other, treasury and corporate for period ending 12/31/2016

2.0% 1.7% 1.6%

Superior Performance…

BB&T National Peers

Largest 4 Banks

Revenue/average assets 10-year average 2007-2016

0.3% 0.4%

0.6%

Revenue/average assets 10-year standard deviation 2007-2016

BB&T National Peers

Largest 4 Banks

Data per S&P Global as of 12/31/2016 National peer group: CFG, CMA, FITB, HBAN, KEY, MTB, PNC, RF, STI, USB, WFC and ZION Largest 4 BHCs: BAC, C, JPM, WFC 1 Volatility measured as standard deviation of PPNR/Average Asset ratios

Community Banking 48%

Residential Mortgage

Banking 7%

Dealer Financial

Services 7%

Specialized Lending 7%

Financial Services

15%

Insurance Holdings

16%

Revenue Diversification by Segment**

…With Less Volatility1

10

Portfolio De-Risking and Re-positioning Largely Complete

Source: Y-9C via SNL, RMO Analytics and Business Intelligence. Excludes loans held for sale. Peers include: CFG, CMA, FITB, HBAN, KEY, MTB, PNC, RF, STI, USB, WFC, ZION

BB&T Loan Portfolio Mix Improvement Over Time Growing Risk/Return Advantaged Portfolios

- term

C&I

CRE – C&D

lending

credit

Other lending subsidiaries

Over the Long - term

C&I

CRE – IPP

CRE – C&D

Dealer floor plan

Direct retail lending

Sales finance

Revolving credit

Residential mortgage

Other lending subsidiaries

11

Purchase Accounting Summary

1 Accretable yield represents the difference between total expected cash flows and the carrying value of the related loan pools. It is recognized using level-yield method over the remaining expected life of the pools (subject to future cash-flow reassessments). 2 Purchase accounting loan marks on Susquehanna and National Penn non-PCI loans represents the total mark, including credit and interest, and are recognized using level-yield method over the remaining life of the individual loans or recognized in full in the event of prepayment. Not subject to future cash flow reassessments. 3 Purchase accounting marks on liabilities represents interest rate marks on Susquehanna and National Penn time deposits and long-term debt and are recognized using level-yield method over the term of the liability. 4 Purchase accounting securities marks represents securities acquired in the Colonial acquisition and are recognized using level-yield method over the expected maturity of the underlying securities. Subject to reassessment of prepayments, as applicable. The mark is also used for payment shortfalls and credit losses.

($ in millions) Acc.

Yield 1

PCI Loans

PA Mark 2

Non - PCI Loans

PA Mark 3

Liabilities PA Mark 4

Securities

Balance, Sept. 30, 2016 $ (421) $ (318) $ (54) $ (404) Interest income: Normal accretion 33 18 6 9 Cash recoveries/early payoffs/ duration adjustments 16 15 - (23)

Total interest income 49 33 6 (14) Other (36) - - - Balance, Dec. 31, 2016 $ (408) $ (285) $ (48) $ (418) NBV/amortized cost of related assets/liabilities at Dec. 31, 2016 $ 910 $ 13,866 $ 2,938 $ 593

12

Retail

BB&T Insurance Services, Inc. BB&T Insurance Services of California, Inc. McGriff, Seibels and Williams, Inc. BB&T Assurance

Wholesale CRC Insurance Services Inc. Swett & Crawford AmRisc, LLP Crump Life Insurance Services, Inc.

5th largest broker in the US and 6th largest in the World

Provides revenue diversification and stability in down markets

1 Swett & Crawford was acquired April 1st, 2016

Based on segment revenues, excluding other, treasury and corporate for quarter ending 12/31/2016

Insurance Holdings

FTE count = 7,004

McGriff 15%

BB&T Insurance Services of California

5%

BB&T Insurance Services

26% CRC / SC1 35%

AmRisc 7%

Crump 11%

Assurance 1%

Delivery Channels & Subsidiaries 2016 Revenue Mix

47% Retail / 53% Wholesale

13

Insurance Holdings - Diversification of BB&T’s Revenues

Revenues are not interest sensitive, providing stability to BB&T’s revenues Not subject to the dynamics of credit cycles – contributes to our strong CCAR stress scenarios Provides broader product offering to clients and improves the ability to increase “share of wallet” –

complementary financial product, valued risk management expertise Increases stability of BB&T’s revenues as insurance contribution has increased in recent years –

commercial/corporate client penetration; Wealth/Life partnership

30% 33% 35%

39% 43%

40% 39%

12% 12% 14% 16% 18% 17% 16%

0%

20%

40%

60%

2010 2011 2012 2013 2014 2015 2016

% of Core Non-Interest Income % of Core Revenue

Source: Wells Fargo Equity Research

Revenue Contribution 2010-2016

14

Insurance Holdings Performance – Peer Comparison

Note: Peers include AJ Gallagher, Aon, Brown & Brown, Marsh & McLennan and Willis. (1): EBITDA margin calculated as EBITDA as a percentage of total revenues. BB&T EBITDA margin excludes American Coastal, one time events which effected

2014 results, 2015 merger related charges, and includes 45.75% of Intercompany charges in FY2011 and FY2012 2016 through YTD 9/30/16 Source: SNL, Company filings,

18.6%

21.5%

19.3%

23.1%

20.4%

19.5%

17.3%

19.6% 20.2%

21.0% 21.4%

20.3%

15.0%

20.0%

25.0%

2011 2012 2013 2014 2015 2016

BB&T Peer Median

EBITDA margins1

15

Strong Funding and Liquidity

Parent – Sources of Liquidity Cash on Deposit at Bank = $6.7 billion Annual Expected Dividends from Bank =

$1.4 billion

Parent – Uses of Liquidity Annual Debt Service and Retirements = $2.1 billion Annual Preferred Dividends = $174 million Annual Common Dividends = $971 million

$8.8 $7.8 $8.6 $8.6 $9.5

$1.2 $1.2 $1.2 $1.2 $1.2 $4.4

$4.3 $6.1 $5.3 $4.5

$3.1 $3.1

$3.1 $2.4 $2.4

$0

$5

$10

$15

$20

$25

4Q15 1Q16 2Q16 3Q16 4Q16

HoldCo Sr HoldCo SubordinatedBank Sr Bank Subordinated

$17.5 $16.4

$19.0 $17.5

Long-term Funding

$17.6

$ in billions

16

Among the Lowest Debt Costs

$26.2 $30.5 $31.7 $31.8 $33.6

$25.5 $28.7 $28.5 $28.2 $24.4

$19.0 $18.4 $19.3 $19.4 $19.4

$0

$25

$50

$75

$100

4Q15 1Q16 2Q16 3Q16 4Q16

Borrowing Capacity at Discount Window

Securities Available and Eligible as Collateral

FHLB Borrowing Available Capacity

$70.7

$77.6 $79.5 $79.4 $77.4

24 25

23 22

19

15

20

25

30

4Q15 1Q16 2Q16 3Q16 4Q16

($ in billions)

Global Excess Liquidity Sources Parent Company Time to Required Funding (months)

17

First Quarter 2017 Outlook

Loans

Average loans are expected to be flat to up slightly vs. 4Q16 due largely to seasonality

Credit Quality 1Q17 net charge-offs to be in the range of 35 to 45 bps NPA levels expected to remain in a similar range in 1Q17 Continue to expect the loan loss provision to approximate charge-offs in addition to providing for incremental loan growth

Margin

Core net interest margin expected to increase 8 – 10 bps GAAP net interest margin expected to increase 10 – 12 bps

Fee Income Total noninterest income expected to be relatively flat vs. 4Q16

Expenses Excluding merger-related and restructuring charges and the FHLB restructuring charge, expenses should be slightly below

$1.7 billion

Capital Continue share repurchase program with up to $160 million in share repurchases in the 1st quarter Management is currently targeting a meaningfully significant increase in total return to shareholders compared with CCAR 2016

2016 Performance vs. Peers

19

26.1%

21.4%

18.1%

10.9%

8.6% 7.5% 7.3% 6.9%

5.7% 4.7%

2.1% 1.7% 1.1% 0.8%

0.0%

6.0%

12.0%

18.0%

24.0%

30.0%

Peer 1 Peer 2 Peer 3 BBT PeerMedian

Peer 4 Peer 5 Peer 6 Peer 7 Peer 8 Peer 9 Peer 10 Peer 11 Peer 12

Source: S&P Global Includes the impact of acquisitions Peers include CFG, CMA, FITB, HBAN, KEY, MTB, PNC, RF, STI, USB, WFC and ZION

Average Loan Growth vs. Peers

2016 Key Performance Results vs. Peers

20

2016 Key Performance Results vs. Peers

16.5%

15.0%

10.4%

7.4%

6.1% 5.9% 5.2% 5.1% 4.9%

3.9% 3.1%

2.5% 2.2% 2.0%

0.0%

5.0%

10.0%

15.0%

20.0%

Peer 1 BBT Peer 2 Peer 3 Peer 4 Peer 5 PeerAverage

Peer 6 Peer 7 Peer 8 Peer 9 Peer 10 Peer 11 Peer 12

Source: S&P Global Includes the impact of acquisitions Peers include CFG, CMA, FITB, HBAN, KEY, MTB, PNC, RF, STI, USB, WFC and ZION

Average Noninterest-bearing Deposit Growth vs. Peers

21

2016 Key Performance Results vs. Peers

0.57% 0.58%

0.64%

0.72%

0.79% 0.81%

1.02%

1.12% 1.12% 1.15%

1.22%

1.34% 1.37%

0.50%

0.75%

1.00%

1.25%

1.50%

BBT Peer 1 Peer 2 Peer 3 Peer 4 Peer 5 Peer 6 Peer 7 Peer 8 Peer 9 Peer 10 Peer 11 Peer 12

Nonperforming Assets / (EOPL + ORE)

Source: S&P Global Peers include CFG, CMA, FITB, HBAN, KEY, MTB, PNC, RF, STI, USB, WFC and ZION

22

2016 Key Performance Results vs. Peers

3.39% 3.37%

3.16% 3.14% 3.11%

3.01% 3.00%

2.92% 2.88% 2.88% 2.86%

2.73% 2.70%

2.50%

2.75%

3.00%

3.25%

3.50%

BBT Peer 1 Peer 2 Peer 3 Peer 4 Peer 5 Peer 6 Peer 7 Peer 8 Peer 9 Peer 10 Peer 11 Peer 12

Net Interest Margin

Source: S&P Global Peers include CFG, CMA, FITB, HBAN, KEY, MTB, PNC, RF, STI, USB, WFC and ZION

23

2016 Key Performance Results vs. Peers

44.9% 44.7% 44.3%

42.5% 41.4% 41.3%

38.9% 38.0%

37.1%

33.9% 32.7%

27.4%

21.4%

20.0%

30.0%

40.0%

50.0%

Peer 1 Peer 2 Peer 3 Peer 4 BBT Peer 5 Peer 6 Peer 7 Peer 8 Peer 9 Peer 10 Peer 11 Peer 12

Fee Income

Source: S&P Global Peers include CFG, CMA, FITB, HBAN, KEY, MTB, PNC, RF, STI, USB, WFC and ZION

24

2016 Key Performance Results vs. Peers

54.5%

56.1%

59.2% 60.0%

60.7% 61.0% 61.7%

62.8% 63.8%

64.4% 64.5% 65.2% 65.6%

50.0%

55.0%

60.0%

65.0%

70.0%

Peer 1 Peer 2 BBT Peer 3 Peer 4 Peer 5 Peer 6 Peer 7 Peer 8 Peer 9 Peer 10 Peer 11 Peer 12

Efficiency Ratio

Source: S&P Global Peers include CFG, CMA, FITB, HBAN, KEY, MTB, PNC, RF, STI, USB, WFC and ZION

25

2016 Key Performance Results vs. Peers

1.69%

1.41% 1.34%

1.29%

1.11% 1.11%

1.02% 0.97%

0.88%

0.78%

0.69%

0.50%

1.00%

1.50%

2.00%

Peer 1 BBT Peer 2 Peer 3 Peer 4 Peer 5 Peer 6 Peer 7 Peer 8 Peer 9 Peer 10

Return on Risk-Weighted Assets

Source: S&P Global Peers include CFG, CMA, FITB, HBAN, KEY, PNC, RF, STI, USB and ZION

26

2016 Key Performance Results vs. Peers

18.00%

14.59% 13.85%

12.25% 11.56% 11.49%

10.91% 10.36%

9.69%

8.05% 7.39% 7.07% 6.77%

5.00%

10.00%

15.00%

20.00%

Peer 1 BBT Peer 2 Peer 3 Peer 4 Peer 5 Peer 6 Peer 7 Peer 8 Peer 9 Peer 10 Peer 11 Peer 12

Return on Average Tangible Common Equity

Source: S&P Global Peers include CFG, CMA, FITB, HBAN, KEY, MTB, PNC, RF, STI, USB, WFC and ZION

27

2016 Key Performance Results vs. Peers

12.1%

11.2% 11.2% 11.1% 11.1%

10.7% 10.6%

10.4% 10.2%

9.6% 9.6% 9.5% 9.4%

9.0%

10.0%

11.0%

12.0%

13.0%

Peer 1 Peer 2 Peer 3 Peer 4 Peer 5 Peer 6 Peer 7 Peer 8 BBT Peer 9 Peer 10 Peer 11 Peer 12

Common Equity Tier 1

Source: S&P Global Peers include CFG, CMA, FITB, HBAN, KEY, MTB, PNC, RF, STI, USB, WFC and ZION

28

2016 Key Performance Results vs. Peers

13.5%

12.8%

12.0% 12.0% 12.0% 11.9%

11.5% 11.4%

11.1% 11.0%

10.9% 10.9%

10.3%

10.0%

11.0%

12.0%

13.0%

14.0%

Peer 1 Peer 2 Peer 3 Peer 4 BBT Peer 5 Peer 6 Peer 7 Peer 8 Peer 9 Peer 10 Peer 11 Peer 12

Tier 1 Ratio

Source: S&P Global Peers include CFG, CMA, FITB, HBAN, KEY, MTB, PNC, RF, STI, USB, WFC and ZION

29

2016 Key Performance Results vs. Peers

2.76%

2.55% 2.42%

2.18% 2.08%

1.90% 1.88% 1.86% 1.81% 1.79%

1.35% 1.35%

0.74%

0.00%

0.60%

1.20%

1.80%

2.40%

3.00%

Peer 1 BBT Peer 2 Peer 3 Peer 4 Peer 5 Peer 6 Peer 7 Peer 8 Peer 9 Peer 10 Peer 11 Peer 12

Source: S&P Global Peers include CFG, CMA, FITB, HBAN, KEY, MTB, PNC, RF, STI, USB, WFC and ZION

Dividend Yield

30

Total Shareholder Return

1 YEAR 10 YEAR

0%

1%

2%

3%

4%

5%

15 YEAR

0%

2%

4%

6%

0%

3%

6%

9%

20 YEAR

Peers include CFG, CMA, FITB, HBAN, KEY, MTB, PNC, RF, STI, USB, WFC and ZION For periods ended December 31, 2016 Source: Bloomberg

(percent) (percent) (percent) (percent)

0%

6%

12%

18%

24%

5 YEAR (percent)

0.0%

8.0%

16.0%

24.0%

32.0%

40.0%

28.4 16.6

21.5

19.4

4.4

0.6

-0.4

5.4

3.6

2.8

8.4

5.9 5.6

BBT Peer Average S&P Financials Index

36.3

22.7

31

Sorted by % of All-Time High2/23/2017 % of All-

All-Time High Current Time HighName Ticker Date Price ($) Price ($) (%)BB&T BBT 2/23/2017 48.53 48.53 100%

Proxy PeersM&T Bank MTB 2/23/2017 169.78 169.78 100%PNC Financial PNC 2/23/2017 128.14 128.14 100%U.S. Bancorp USB 2/23/2017 55.40 55.40 100%Wells Fargo WFC 2/15/2017 58.55 58.49 100%Comerica CMA 2/15/2017 73.24 71.95 98%Citizens CFG 2/15/2017 38.37 37.25 97%SunTrust STI 5/22/2007 90.61 59.80 66%Zions ZION 2/20/2007 88.28 44.82 51%Huntington HBAN 6/17/1999 30.58 14.18 46%KeyCorp KEY 4/14/1998 43.13 19.06 44%Fifth Third FITB 3/19/2002 69.40 27.47 40%Regions RF 10/13/2006 38.87 15.34 39%Median - Proxy Peers 82%

Other Banks in BKXCapital One COF 2/23/2017 93.41 93.41 100%JPMorgan JPM 2/23/2017 91.13 91.13 100%SVB Financial SIVB 2/23/2017 189.13 189.13 100%First Republic FRC 2/15/2017 96.78 95.78 99%Northern Trust NTRS 1/4/2017 90.49 87.69 97%State Street STT 1/3/2008 85.37 79.82 93%People's United PBCT 2/21/2007 21.80 19.26 88%Bank of New York Mellon BK 11/7/2000 59.25 47.34 80%Bank of America BAC 11/20/2006 54.90 24.58 45%New York Community NYCB 2/27/2004 35.12 15.47 44%Citigroup C 8/28/2000 588.75 60.62 10%Median - Other Banks in BKX 93%

Overall Median 93%

Price Performance Comparison

Performance Comparison Relative to All-Time High Share Prices

BB&T is currently trading at its all-time highs 6 of its 12 proxy

peers are trading at or near their all-time highs

Source: Morgan Stanley and S&P Global; market data as of 02/23/2017

32

Sorted by Beta / Cost of Equity10-Year Market Risk Cost of

UST Rate Beta Premium EquityName Ticker (%) (x) (%) (%)BB&T BBT 2.38 1.15 6.0 9.3

Proxy PeersRegions RF 2.38 1.52 6.0 11.5 Comerica CMA 2.38 1.50 6.0 11.4 Zions ZION 2.38 1.49 6.0 11.3 Citizens CFG 2.38 1.45 6.0 11.1 Huntington HBAN 2.38 1.41 6.0 10.8 Fifth Third FITB 2.38 1.37 6.0 10.6 SunTrust STI 2.38 1.33 6.0 10.3 KeyCorp KEY 2.38 1.32 6.0 10.3 Wells Fargo WFC 2.38 1.23 6.0 9.7 PNC Financial PNC 2.38 1.17 6.0 9.4 M&T Bank MTB 2.38 1.10 6.0 9.0 U.S. Bancorp USB 2.38 1.00 6.0 8.4 Median - Proxy Peers 1.35 10.5

Other Banks in BKXSVB Financial SIVB 2.38 1.68 6.0 12.4 Bank of America BAC 2.38 1.52 6.0 11.5 Citigroup C 2.38 1.52 6.0 11.5 Capital One COF 2.38 1.36 6.0 10.6 State Street STT 2.38 1.28 6.0 10.1 Bank of New York Mellon BK 2.38 1.21 6.0 9.6 First Republic FRC 2.38 1.20 6.0 9.6 Northern Trust NTRS 2.38 1.20 6.0 9.6 JPMorgan JPM 2.38 1.19 6.0 9.5 People's United PBCT 2.38 1.15 6.0 9.3 New York Community NYCB 2.38 1.03 6.0 8.6 Median - Other Banks in BKX 1.21 9.6

Overall Median 1.32 10.3

Cost of Equity Comparison

Cost of Equity Comparison

BB&T trades with a lower beta (1.15x) than its peers Proxy peer

median of 1.35x Overall median

of 1.32x

Source: Morgan Stanley and S&P Global, CapIQ; market data as of 02/23/2017. Beta based on Barra predicted beta per CapIQ

33

Among the Highest Rated Banks

BB&T has a strong risk profile A track record of forgoing excessive growth in

overheated markets BB&T has not been active in the leveraged loan

market BB&T performs very well in forward-looking stress

tests BB&T’s capital position is resilient under stress

- Even during the crisis, BB&T grew capital, largely organically

BB&T has the second most granular loan portfolio of the 67 banks surveyed by Moody’s

Average Peer Group Debt Ratings Sources: Bloomberg, SNL

As of 02/24/17

Averages reflect ratings by Moody’s, S&P, Fitch, and DBRS

Moody's S&P Fitch DBRS S&P/Fitch Equivalent

USB A1 A+ AA AA AA- WFC A2 A AA- AA A+ BBT A2 A- A+ AH A PNC A3 A- A+ AH A CMA A3 BBB+ A A A- MTB A3 A- A AL A- FITB Baa1 BBB+ A AL A- STI Baa1 BBB+ A- AL A- KEY Baa1 BBB+ A- BBBH BBB+

HBAN Baa1 BBB A- BBBH BBB+ CFG N/A BBB+ BBB+ BBBH BBB+ RF Baa2 BBB BBB BBBH BBB

ZION Baa3 BBB- BBB- BBB BBB-

34

A Digital Strategy and Mindset For the Future

Invested in differentiated digital capabilities Introduced a new digital banking platform “U by BB&T” in 2015 to offer a differentiated digital banking experience

and provide a foundation for future innovation Established the role of Chief Client Experience Officer

To provide the Perfect Client Experience by delivering the BB&T Value Promise, to include being empathetic and passionate with clients enterprise-wide; thereby creating client delight

Established objective to accelerate BB&T’s digital transformation program Demonstrated a commitment to accelerating BB&T’s digital transformation program by establishing it is as a

corporate objective Created a structure to provide focus and alignment for digital strategy, client experience, and delivery

Created Chief Digital Officer and Chief Client Experience Officer roles and aligned Digital, Data, and Technology under the leadership of the CIO

Dontá Wilson Chief Client

Experience Officer

Bennett Bradley Chief Digital

Officer

Barbara Duck Chief Information

Officer

35

U Summary – Through December 31st

1.92MM active U clients* 25% of these are new Retail digital clients since U launch 74% of Active Retail Digital Banking Clients are active U clients Our goal is to transition all existing Retail Digital clients to the U platform as soon as the platform has had its internal and external assessments completed and appropriate remediation completed. As a new date is set for migration to restart, we will communicate with the teams.

* Includes approximately 93k SBO clients who have used U Mobile App

41%

39%

20%

How are Clients using U?

U Mobile App only U Browser only Both

0

500

1,000

1,500

2,000

2,500

Oct

-15

Nov

-15

Dec

-15

Jan-

16

Feb-

16

Mar

-16

Apr

-16

May

-16

Jun-

16

Jul-1

6

Aug

-16

Sep

-16

Oct

-16

Nov

-16

Dec

-16

Total Active U Active New U

Susquehanna / Legacy Mobile App Upgrade messaging

All Associates begin using U

Legacy App sunset completed

National Penn

U by BB&T Active Client Growth (in thousands)

36

Committed To Our Communities – Lighthouse Project

The BB&T Lighthouse Project provides associates with an opportunity to make a difference in their communities through company supported and funded service projects.

The purpose of the Lighthouse Project is to be involved in positive change. It’s about seeing a need and then working with a local nonprofit to address the need. It’s about living out our mission to make the communities we serve a better place to live and work.

Since we began the BB&T Lighthouse Project in 2009, we have completed more than 9,000 community service projects, provided more than 475,000 volunteer hours, and helped change the lives of more than 13 million people!

37

Committed To Our Communities – BB&T Financial Foundations

Since 2010, BB&T has underwritten the cost of the EverFi - Financial LiteracyTM platform, which provides an interactive, web-based financial management program to high school students throughout our footprint at no cost to the schools or taxpayers. Length of program: 6 – 8 hours The ten module course covers 600 financial

literacy concepts on savings, banking, credit cards and interest rates, credit score, financing higher education, renting versus owning, taxes and insurance, consumer fraud, and investing.

Course curriculum aligns with both state and national financial literacy standards and Common Core State Math Standards.

Students experienced an 86% increase in financial knowledge after completing the BB&T curriculum1

314,749 students in 15 states and the District of

Columbia certified on the BB&T platform as of 12/1/16

38

Environmental Sustainability

Bank-wide facilities initiatives Corporate paper shredding and recycling Commercial print (achieved 14% reduction in the volume of paper) Purchase of copy paper recycled using sustainable forestry practices Environmentally-friendly janitorial cleaning products Eliminated routine carpet cleaning to conserve resources Drive thru concrete cleaning

BB&T is proud to share our efforts to reduce our environmental footprint. From the way we construct our workplaces to choices we make in their operation, we closely consider our affect on the neighborhoods and communities where we live alongside our clients and associates.

39

Environmental Sustainability

Bank-wide building construction initiatives Maximizing the use of natural light – reducing electricity consumption Use of native plants to reduce irrigation requirements Specification of construction materials with recycled content Specification of low-VOC content materials New flooring and new furniture contains recycled content Use of white building roof system to reduce “heat island” effect Energy-efficient appliances and lighting High-performance low-e glazing on windows and doors Use of high-efficiency HVAC units

In building construction, BB&T is an advocate for the environment and sustainable design. We promote the incorporation of sustainable design strategies where applicable, practical, economically feasible and consistent with the function and operations of the facility.

40

Strong Corporate Governance

Proxy access

Shareholder engagement

Active, independent board of directors

Strong independent lead director

Strategic direction and planning

Stock ownership guidelines – for CEO/Board

Board oversight of risk management

Compensation clawbacks and executive risk scorecard

Restrictions on pledging/hedging of shares

Statement of political activity

Corporate Social Responsibility Report

Majority voting for director elections

41

Well-Positioned For the Future

Diversification drives long-term stability / less volatility Maintaining long-term performance advantages Most diversified insurance brokerage platform in the industry

Achieving targeted cost savings / intense focus on expenses

Accelerating digital transformation U by BB&T

Strong dividend Among the highest dividend payout ratios Management is currently targeting a meaningfully significant

increase in total return to shareholders compared with CCAR 2016

Focus on improving loan and revenue growth Unique and non-negotiable culture

42

Value System

Revenues

Superior Shareholder Long-term Returns

Value System

Attract / Train and Retain the Right People

Perfect Client Experience

Culture Matters – Values Are Consistent and Important

Appendix

Non-GAAP Reconciliations1

45

1 BB&T’s management uses these measures in their analysis of the Corporation’s performance and believes these measures provide a greater understanding of ongoing operations and enhance comparability of results with prior periods, as well as demonstrating the effects of significant gains and charges.

2 Revenue is defined as net interest income plus noninterest income

Quarter Ended Dec. 31 Sept. 30 June 30 March 31 Dec. 31 Efficiency Ratio (1) 2016 2016 2016 2016 2015

Efficiency Ratio Numerator - Noninterest Expense - GAAP $ 1,668 $ 1,711 $ 1,797 $ 1,545 $ 1,597

Amortization of intangibles (38) (38) (42) (32) (32)

Merger-related and restructuring charges, net (13) (43) (92) (23) (50)

Gain (loss) on early extinguishment of debt - - - 1 -

Mortgage reserve adjustments 31 - - - -

Charitable contribution - (50) - - -

Settlement of FHA-insured loan matters and related recovery - 73 - - -

Efficiency Ratio Numerator - Adjusted $ 1,648 $ 1,653 $ 1,663 $ 1,491 $ 1,515

Efficiency Ratio Denominator – Revenue2 – GAAP $ 2,727 $ 2,774 $ 2,747 $ 2,545 $ 2,519

Taxable equivalent adjustment 41 40 40 39 38

Securities (gains) losses, net (1) - - (45) -

Efficiency Ratio Denominator - Adjusted $ 2,767 $ 2,814 $ 2,787 $ 2,539 $ 2,557

Efficiency Ratio - GAAP 61.1% 61.7% 65.4% 60.7% 63.4%

Efficiency Ratio - Adjusted 59.5 58.7 59.6 58.8 59.2

(Dollars in millions)

46

1 BB&T’s management believes investors use this measure to evaluate the return on average common shareholders’ equity without the impact of intangible assets and their related amortization.

Non-GAAP Reconciliations1

(Dollars in millions)

Quarter Ended

Dec. 31 Sept. 30 June 30 March 31 Dec. 31

Return on Average Tangible Common Shareholders' Equity 2016 2016 2016 2016 2015

Net income available to common shareholders $ 592 $ 599 $ 541 $ 527 $ 502

Plus: Amortization of intangibles, net of tax 24 24 26 20 21

Tangible net income available to common shareholders $ 616 $ 623 $ 567 $ 547 $ 523

Average common shareholders' equity $ 26,962 $ 26,824 $ 26,519 $ 25,076 $ 24,736

Less: Average intangible assets 10,508 10,545 10,574 9,226 9,224

Average tangible common shareholders' equity $ 16,454 $ 16,279 $ 15,945 $ 15,850 $ 15,512

Return on Average Tangible Common Shareholders' Equity 14.91% 15.20% 14.33% 13.87% 13.37%

Dec. 31 Sept. 31 June 30 March 31 Dec. 31 2016 2016 2016 2016 2015

Net interest income - GAAP $ 1,565 $ 1,610 $ 1,617 $ 1,529 $ 1,504

Taxable-equivalent adjustment 41

40

40

39

38

Net interest income - taxable-equivalent $ 1,606 $ 1,650 $ 1,657 $ 1,568 $ 1,542

Interest income - PCI loans (49) (52) (48) (59) (56)

Accretion of mark on Susquehanna and National Penn non-PCI loans (33) (40) (42) (28) (30)

Accretion of mark on Susquehanna and National Penn liabilities (6) (7) (9) (8) (9)

Accretion of mark on securities acquired from FDIC 14 (8) (21) (18) (7)

Net interest income - Core $ 1,532 $ 1,543 $ 1,538 $ 1,455 $ 1,439 Earning assets - GAAP 192,574 193,909 194,822 183,612 183,151

Average balance - PCI loans (974) (1,052) (1,130) (1,098) (1,070)

Average balance of mark on Susquehanna and National Penn non-PCI loans 300 335 345 274 437

Average balance of mark on securities acquired from FDIC 402 408 424 441 448

Earning assets - Core $ 192,302 $ 193,601 $ 94,461 $183,230 $ 182,967 Annualized net interest margin

Reported 3.32% 3.39% 3.41% 3.43% 3.35%

Core 3.18 3.18 3.17 3.19 3.13

Non-GAAP Reconciliations1,2

Core net interest margin is a non-GAAP measure that adjusts net interest margin to exclude the impact of interest income and funding costs associated with loans and securities acquired in the Colonial acquisition and PCI loans acquired from Susquehanna and National Penn. Core net interest margin is also adjusted to remove the purchase accounting marks and related amortization for non-PCI loans, deposits and long-term debt acquired from Susquehanna and National Penn. BB&T's management believes that the adjustments to the calculation of net interest margin for certain assets and deposits acquired provide investors with useful information related to the performance of BB&T's earning assets. Amounts may not sum due to rounding

1

Quarter Ended

47

(Dollars in millions)

2