Zions Bancorporation Investor Presentation — January 2022

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Financial Review2Forward -Looking Statements; Use of Non- GAAP Financial Measures

Forward Looking Information

This earnings presentation includes “forward- looking statements” as that term is defined in the Private Securities Litigation

Reform Act of 1995. These statements, often accompanied by words such as “may,” “might,” “could,” “anticipate,” “expect,” and

similar terms, are based on management’s current expectations and assumptions regarding future events or determinations, all of

which are subject to known and unknown risks and uncertainties. Forward- looking statements are not guarantees, nor should

they be relied upon as representing management’s views as of any subsequent date. Factors that could cause our actual results ,

performance or achievements, industry trends, and results or regulatory outcomes to differ materially from those expressed orimplied in the forward- looking statements are discussed in our 2020 Form 10- K and subsequent filings with the Securities and

Exchange Commission (SEC) and are available on our website (www.zionsbancorporation.com) and from the SEC (www.sec.gov).

Except to the extent required by law, we specifically disclaim any obligation to update any factors or to publicly announce t he

revisions to any forward -looking statements to reflect future events or developments.

Use of Non -GAAP Financial Measures:

This document contains several references to non -GAAP measures, including pre -provision net revenue and the “efficiency ratio,”

which are common industry terms used by investors and financial services analysts. Certain of these non- GAAP measures are key

inputs into Zions’ management compensation and are used in Zions’ strategic goals that have been and may continue to be articulated to investors. Therefore, the use of such non -GAAP measures are believed by management to be of substantial interest

to the consumers of these financial disclosures and are used prominently throughout the disclosures. A full reconciliation of the

difference between such measures and GAAP financials is provided within the document, and users of this document are encouraged to carefully review this reconciliation.Our loan growth strengthened; outlook favorable

Strong growth in multiple categories

Strategic use of liquidity by running promotional lending campaigns

Our deposit growth remains strong

We are investing the cash generated from deposits in loans and modest duration securities

Simultaneously, we are maintaining a strong liquidity profile

We are well prepared for rising interest rates

We have positioned the bank for future interest rates by carefully managing balance sheet liquidity