Zions Bancorporation Investor Presentation — October 2019

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

Forward Looking Information

These materials include “forward -looking statements” as that term is defined in the Private Securities Litigation Reform Act of 1995. These statements are based on management’s current

expectations regarding future events or determinations, all of which are subject to known and unknown risks, uncertainties an d other factors that may cause our actual results, performance

or achievements, market trends, industry results or regulatory outcomes to differ materially from those expressed or implied by such forward -looking statements.

Without limiting the foregoing, the words “anticipates,” “believes,” “can,” “continue,” “could,” “estimates,” “expects,” “int ends,” “may,” “might,” “plans,” “projects,” “should,” “would,”

“targets,” “will” and the negative thereof and similar words and expressions are intended to identify forward -looking statements . Forward -looking statements by their nature address

matters that are, to different degrees, uncertain, such as statements about future financial and operating results. Actual re sults and outcomes may differ materially from those presented,

either expressed or implied, in the presentation. Important risk factors that may cause such material differences include, bu t are not limited to, the Bank’s ability to meet operating leverage

goals; the rate of change of interest -sensitive assets and liabilities relative to changes in benchmark interest rates; the abil ity of the Bank to upgrade its core deposit system and implement

new digital product in order to remain competitive; risks associated with information security, such as systems breaches and failures; and legislative, regulatory and economic developments.

These risks, as well as other factors, are discussed in the Bank’s most recent Annual Report on Form 10 -K and Quarterly Report o n Form 10 -Q, filed with the Securities and Exchange

Commission (SEC) and available at the SEC’s Internet site (https://www.sec.gov/). In addition, you may obtain documents filed with the SEC by the Bank free of charge by contacting:

Investor Relations, Zions Bancorporation, N.A., One South Main Street, 11th Floor, Salt Lake City, Utah 84133, (801) 844 -7637. E xcept as required by law, Zions Bancorporation, N.A.

specifically disclaims any obligation to update any factors or to publicly announce the result of revisions to any of the for ward-looking statements included herein to reflect future events or

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