Trustmark (TRMK) investor relations material

Deal rationale and strategic fit

• Combines two Mississippi-headquartered, relationship-oriented franchises into a ~$58B Gulf South regional bank positioned to compete with larger institutions.

• Complementary markets and broader client capabilities are expected to support organic growth, stronger service, investment capacity and long-term shareholder value.

• Leadership cited cultural alignment and benefits for customers, shareholders, associates and communities; greater scale would be difficult to build as quickly independently.

Financial terms and conditions

• All-stock transaction at a fixed exchange ratio of 0.7463 Hancock Whitney shares per acquired share; estimated value of $54.02 per share and ~$3.2B aggregate value.

• Pro forma ownership expected to be ~65% for Hancock Whitney shareholders and ~35% for acquired-bank shareholders.

• Estimated 2028 EPS accretion of ~7%; ~7% tangible book value dilution at close is expected to be earned back in ~2.8 years, inclusive of merger expenses.

• Pro forma targets include ~1.6% ROA, 17%–18% ROTCE and an efficiency ratio below 50%; estimated closing capital ratios are 8.2% TCE/TA, 11.2% CET1 and 13.2% total capital.

• Transaction value equates to ~1.8x tangible book value and ~12x estimated 2028 earnings, or 7.2x earnings including anticipated cost savings.

Synergies and expected cost savings

• $205.5M in annual pre-tax run-rate net expense savings, equal to ~35% of acquired 2028 cash non-interest expense; ~37.5% expected in 2027 and full run rate in 2028.

• Savings are expected from duplicated back-office and leadership functions, systems and other operating costs; branch consolidation will be assessed carefully.

• Revenue synergies are excluded from projections; $250M in pre-tax merger expenses is assumed for modeling purposes.