Zions Bancorporation Investor Presentation — April 2022

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1st Quarter Earnings Conference Call

First quarter 2022 overview

(1) Non-GAAP, see appendix for reconciliation. Pre-Tax Pre-Provision

Income(1)Diluted Earnings Per

ExpenseNet Income Available to

•ROATCE(1) ratio improved ~590 bps

•Annualized net charge-off ratio

totaled 0.21% of average loans.

•Efficiency ratio was 57.9% on both

a reported and adjusted basis(1).

•1Q loans grew 1% on an average basis and 2% on an ending

•Business loans increased 3% driven by broad-based growth

in corporate, middle market, and real estate lending. Line

of credit commitments increased $1.6B and utilization

◦Growth driven by asset-based lending, healthcare,

government, transportation, energy, technology &

defense, homebuilder and real estate investment

◦PPP loans continue to decrease, ending the quarter

at $437M. Expect PPP to reduce avg loans by

•Consumer loans declined 1% as increases in mortgage and

other consumer were offset by declines in other

◦Growth in mortgage muted by sale of ~$285M of

previously repurchased GNMA loans that were re-

◦Other Consumer includes ~2% growth in EnerBank

◦Expect consumer exit portfolios to reduce average

loans by ~$700M in FY22.

•Expect full-year 2022 reported average loan balances to

grow 4-5% compared to 2021.Loan growth continues

(Ending, $ in billions)

1Q21 4Q21 1Q22Loans and leases

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