INTRODUCTION We are a multi-state diversified regional bank holding company organized under Maryland law in 1966 and headquartered in Columbus, Ohio. Through the Bank, we are committed to making people’s lives better, helping businesses thrive, and strengthening the communities we serve, and we have been servicing the financial needs of our customers since 1866. Through our subsidiaries, we provide full-service commercial and consumer deposit, lending, and other banking and financial services. These include, but are not limited to, payments, mortgage banking, direct and indirect consumer financing, investment banking, capital markets, advisory, equipment financing, distribution finance, investment management, trust, brokerage, insurance, and other financial products and services. As of June 30, 2026, we operated over 1,400 branches in 21 states, with our Commercial and Vehicle Finance businesses delivering expertise nationally. This MD&A provides information we believe necessary for understanding our financial condition, changes in financial condition, results of operations, and cash flows. This MD&A provides only material updates to the MD&A included in our Annual Report on Form 10-K for the year ended December 31, 2025 (the “2025 Annual Report on Form 10-K”), and therefore, should be read in conjunction with the 2025 Annual Report on Form 10-K. This MD&A should also be read in conjunction with the Unaudited Consolidated Financial Statements, Notes to Unaudited Consolidated Financial Statements, and other information contained in this report. In this MD&A we refer to FTE net interest income and FTE total revenue and the efficiency and tangible common equity ratios. These financial measures are not required by or calculated in accordance with GAAP, and may not be calculated the same as similarly titled measures used by other companies. These financial measures should thus be considered as supplemental in nature and not considered in isolation or as a substitute for the related financial information prepared in accordance with GAAP. For a further description of these non-GAAP financial measures and reconciliations to the most directly comparable GAAP measure, see the "Non-GAAP Financial Measures" within the “Additional Disclosures” section below. EXECUTIVE OVERVIEW Veritex and Cadence Acquisitions Effective October 20, 2025, Huntington completed the acquisition of Veritex Holdings, Inc. (“Veritex”), a bank holding company headquartered in Dallas, Texas, whereby Veritex merged with and into Huntington, with Huntington as the surviving entity. Upon completion of the merger, Huntington issued 107 million shares of its common stock to Veritex shareholders of record as of the merger date, in addition to 1 million shares issued upon the conversion of certain Veritex equity awards, resulting in total consideration from the transaction of $1.7 billion. Effective February 1, 2026, Huntington completed the acquisition of Cadence Bank (“Cadence”), a regional bank headquartered in Houston, Texas and Tupelo, Mississippi, whereby Cadence merged with and into Huntington National Bank, with Huntington National Bank as the surviving bank. Upon completion of the merger, Huntington issued 462 million shares of its common stock to Cadence shareholders of record as of the merger date, in addition to the conversion of certain Cadence equity awards into Huntington equity awards. Further, each outstanding share of 5.50% Series A Non-Cumulative Perpetual Preferred Stock of Cadence was converted into the right to receive one depositary share representing 1/1000 of a share of a newly created 5.50% Series L Non-Cumulative Perpetual Preferred Stock of Huntington. Consideration from the transaction totaled $8.3 billion. Historical periods reflect results of legacy Huntington operations. Subsequent to the closing of each respective acquisition, results reflect combined post-acquisition activity. For further information on the Veritex and Cadence acquisitions, refer to Note 3 - “Business Combinations” of the Notes to Unaudited Consolidated Financial Statements. 2026 2Q Form 10-Q 5 Table of Contents Financial Performance Review Selected Financial Data Table 1 - Selected Quarterly and Year-to-Date Income Statement Data Three Months Ended Six Months Ended (amounts in millions, except per share data) June 30, 2026 June 30, 2025 Change June 30, 2026 June 30, 2025 Change Amount Percent Amount Percent Interest income $3,382 $2,556 $826 32% $6,468 $5,045 $1,423 28% Interest expense 1,330 1,089 241 22 2,525 2,152 373 17 Net interest income 2,052 1,467 585 40 3,943 2,893 1,050 36 Provision for credit losses 132 103 29 28 290 218 72 33 Net interest income after provision for credit losses 1,920 1,364 556 41 3,653 2,675 978 37 Noninterest income 785 471 314 67 1,467 965 502 52 Noninterest expense 1,809 1,197 612 51 3,583 2,349 1,234 53 Income before income taxes 896 638 258 40 1,537 1,291 246 19 Provision for income taxes 165 96 69 72 279 218 61 28 Income after income taxes 731 542 189 35 1,258 1,073 185 17 Income attributable to non-controlling interest 4 6 (2) (33) 8 10 (2) (20) Net income attributable to Huntington 727 536 191 36 1,250 1,063 187 18 Dividends on preferred shares 41 27 14 52 82 54 28 52 Net income applicable to common shares $686 $509 $177 35% $1,168 $1,009 $159 16% Average common shares—basic 2,021 1,457 564 39% 1,946 1,456 490 34% Average common shares—diluted 2,048 1,481 567 38 1,975 1,482 493 33 Net income per common share—basic $0.34 $0.35 $(0.01) (3) $0.60 $0.69 $(0.09) (13) Net income per common share—diluted 0.33 0.34 (0.01) (3) 0.59 0.68 (0.09) (13) Cash dividends declared per common share 0.155 0.155 — — 0.31 0.31 — — Return on average total assets 1.02% 1.04% 0.92% 1.04% Return on average common shareholders’ equity 9.3 11.0 8.3 11.1 Return on average tangible common shareholders’ equity (1) 15.1 16.1 13.4 16.4 Net interest margin (2) 3.21 3.11 3.23 3.11 Efficiency ratio (3) 61.5 59.0 64.2 58.9 Revenue and Net Interest Income—FTE (non-GAAP) Net interest income $2,052 $1,467 $585 40% $3,943 $2,893 $1,050 36% FTE adjustment (2) 20 16 4 25 39 31 8 26 Net interest income, FTE (non-GAAP) (2) 2,072 1,483 589 40 3,982 2,924 1,058 36 Noninterest income 785 471 314 67 1,467 965 502 52 Total revenue, FTE (non-GAAP) (2) $2,857 $1,954 $903 46% $5,449 $3,889 $1,560 40% (1)Net income applicable to common shares excluding expense for amortization of intangibles for the period divided by average tangible common shareholders’ equity, which represents a non-GAAP measure. Average tangible common shareholders’ equity equals average total common shareholders’ equity less average intangible assets and goodwill. Expense for amortization of intangibles and average intangible assets are net of deferred taxes and calculated assuming a 21% tax rate. (2)Calculated on an FTE basis, which represents a non-GAAP measure, assuming a 21% tax rate. (3)Noninterest expense less amortization of intangibles divided by the sum of FTE net interest income and noninterest income excluding securities gains (losses), which represents a non-GAAP measure. 6 Huntington Bancshares Incorporated Table of Contents Summary of 2026 Second Quarter Results Compared to 2025 Second Quarter For the second quarter of 2026, we reported net income attributable to Huntington of $727 million, or $0.33 per diluted common share, compared with $536 million, or $0.34 per diluted common share, in the year-ago quarter. The second quarter of 2026 reported net income was impacted by $152 million, or $116 million after tax, of acquisition-related expenses, which reduced diluted earnings by $0.06 per common share, while the second quarter of 2025 was impacted by $6 million of staffing efficiencies expense, partially offset by $3 million of favorable FDIC Deposit Insurance Fund special assessment adjustments, which combined reduced diluted earnings on an after tax basis by $0.01 per common share. Net interest income was $2.1 billion for the second quarter of 2026, an increase of $585 million, or 40%, from the year-ago quarter. FTE net interest income, a non-GAAP financial measure, increased $589 million, or 40%, from the year-ago quarter. The increase in FTE net interest income primarily reflected a $67.5 billion, or 35%, increase in average earning assets and a 10 basis point increase in the FTE NIM to 3.21%, partially offset by a $53.0 billion, or 35%, increase in average interest-bearing liabilities. The increases in average earning assets and average interest- bearing liabilities were attributable to a combination of the Cadence and Veritex acquisitions, as well as organic growth. The NIM increase was primarily due to a decrease in funding costs, partially offset by a decrease in yields on interest earning assets. The provision for credit losses was $132 million in the second quarter of 2026, an increase of $29 million, or 28%, from the year-ago quarter, with the increase driven by loan growth and higher NCOs in the current year quarter, partially offset by a lower overall reserve coverage, and fluctuations in the provision for unfunded commitments. NCOs were $119 million and represented 0.25% of average loans and leases in the second quarter of 2026, compared to $66 million, or 0.20% of average loans and leases, in the year-ago quarter. Noninterest income was $785 million in the second quarter of 2026, an increase of $314 million, or 67%, from the year-ago quarter. The increase in noninterest income was driven by increases across all major noninterest income categories, in part due to the impact from the Cadence and Veritex acquisitions. Noninterest expense, inclusive of the impact from the Cadence and Veritex acquisitions, was $1.8 billion in the second quarter of 2026, an increase of $612 million, or 51%, from the year-ago quarter. The increase in noninterest expense was primarily driven by $152 million of acquisition-related expenses and other impacts from the Cadence and Veritex acquisitions. Consolidated Balance Sheet, Credit Quality, and Capital Ratios as of June 30, 2026 Compared to Prior Year End Total assets at June 30, 2026 were $284.0 billion, an increase of $58.9 billion, or 26%, compared to December 31, 2025. The increase in total assets was primarily driven by $51.3 billion of assets acquired as a result of the completion of the Cadence acquisition, goodwill resulting from the Cadence acquisition, and organic loan growth. Total liabilities at June 30, 2026 were $251.3 billion, an increase of $50.6 billion, or 25%, compared to December 31, 2025. The increase in total liabilities was primarily driven by $46.5 billion of liabilities assumed as a result of the completion of the Cadence acquisition, additional short- and long-term borrowings, and organic deposit growth. NPAs totaled $1.6 billion at June 30, 2026, an increase of $667 million, or 71%, from December 31, 2025, with the increase due to $295 million of NPAs assumed in the Cadence acquisition and additional increases in commercial and industrial, commercial real estate, and residential mortgage NALs. The ACL was $3.4 billion, or 1.78% of total loans and leases, at June 30, 2026, an increase of $638 million compared to $2.7 billion, or 1.83% of total loans and leases, at December 31, 2025. The increase in the ACL was driven by the ACL recorded for loans acquired in the Cadence transaction, in addition to loan and lease growth, partially offset by a decrease in the overall ACL coverage ratio. Our shareholders’ equity to total assets ratio was 11.5% at June 30, 2026, compared to 10.8% at December 31, 2025. The tangible common equity to tangible assets ratio, a non-GAAP measure, was 7.1% at both June 30, 2026 and December 31, 2025, as an increase in tangible common equity from current period earnings, net of dividends, and the impact of the Cadence acquisition, were offset by common share repurchases, a decline in AOCI, and an increase in tangible assets. The CET1 risk-based capital ratio was 10.0% at June 30, 2026, compared to 10.4% at December 31, 2025, with the decrease driven by higher risk-weighted assets, the impact of the Cadence acquisition, and share repurchases, partially offset by an increase in regulatory capital from current period earnings, net of dividends. 2026 2Q Form 10-Q 7 Table of Contents General Our general business objectives are to: •Deliver our Culture, Purpose, and Vision through a Differentiated Operating Model; •Build on our vision to be the leading People-First, Customer-Centered bank in the country; •Deliver top quartile performance through sustainable long-term profitable growth; •Differentiate our culture, brand, and customer experience through expanded product offerings to drive digital acquisition, deepening, and retention, and leveraging partnerships and technology to grow customers and market share; •Leverage our regional banking model and national franchise to drive scale, growth and expansion; •Anticipate evolving customer needs to drive profitable growth; •Maintain positive operating leverage and execute disciplined capital management; and •Provide stability and resilience through disciplined risk management, while maintaining an aggregate moderate-to-low risk appetite. Our quarterly results reflect continued strong execution, supported by growth in our legacy organization and the successful integrations of Cadence and Veritex. Our robust liquidity, capital, and credit profiles allowed us to continue to invest in deepening existing customer relationships, adding new business, and expanding our capabilities and expertise. Credit performance remained strong, consistent with our aggregate moderate-to-low risk appetite. Our balance sheet remains a source of strength, as demonstrated by the results of the recent CCAR stress test. With our differentiated super regional bank model, which combines national expertise with local delivery, we continue to accelerate organic growth across our core footprint and expansion markets, while remaining focused on driving our proven flywheel of value creation to deliver sustained growth and long-term value for our customers, colleagues, and shareholders. Economy Economic conditions during the second quarter proved resilient despite continued uncertainty tied to the U.S.- Iran conflict. Consumer spending, business investment, and continued investment in artificial intelligence and infrastructure supported economic activity, while geopolitical developments in the Middle East, elevated energy prices, and increasing inflation expectations impacted business and consumer confidence. Labor market conditions remained relatively stable, with continued payroll growth and unemployment remaining near historically low levels. The Federal Reserve maintained its current monetary stance during the quarter, resulting in interest rates remaining elevated relative to historical levels. Persistent inflation alongside a solid labor market shifted market expectations away from rate cuts and toward a potential rate increase in the second half of the year. Economic growth expectations remain positive, although risks persist related to inflation, monetary policy, geopolitical developments, and broader economic conditions. 8 Huntington Bancshares Incorporated Table of Contents DISCUSSION OF RESULTS OF OPERATIONS This section provides a review of financial performance on a consolidated basis. Key unaudited interim consolidated balance sheet and unaudited interim income statement trends are discussed. All earnings per share data are reported on a diluted basis. For additional insight on financial performance, please read this section in conjunction with the “Business Segment Discussion.” Quarterly Average Balance Sheet / Net Interest Income The following table details the change in our quarterly average balance sheet and the net interest margin. Table 2 - Consolidated Quarterly Average Balance Sheet and Net Interest Margin Analysis Three Months Ended June 30, 2026 Three Months Ended June 30, 2025 Average Interest Income/Expense Yield/ Average Interest Income/Expense Yield/ Change in Average Balances (dollar amounts in millions) Balances (FTE) (1) Rate (1)(2) Balances (FTE) (1) Rate (1)(2) Amount Percent Assets: Interest-earning deposits with banks $16,977 $156 3.67% $12,264 $139 4.52% $4,713 38% Trading account assets 281 3 3.97 634 6 3.72 (353) (56) Investment and other securities: Available-for-sale securities: Taxable 31,486 285 3.62 24,015 278 4.62 7,471 31 Tax-exempt 3,487 43 4.92 3,251 41 4.93 236 7 Total available-for-sale securities 34,973 328 3.75 27,266 319 4.66 7,707 28 Held-to-maturity securities—taxable 14,571 97 2.65 16,130 107 2.66 (1,559) (10) Other securities 1,369 17 5.00 881 12 5.85 488 55 Total investment and other securities 50,913 442 3.47 44,277 438 3.95 6,636 15 Loans held for sale 1,174 19 6.16 746 12 6.43 428 57 Loans and leases (3): Commercial: Commercial and industrial 90,371 1,336 5.85 59,393 914 6.09 30,978 52 Commercial real estate 23,925 370 6.12 10,785 183 6.71 13,140 122 Lease financing 5,726 101 6.98 5,458 92 6.66 268 5 Total commercial 120,022 1,807 5.96 75,636 1,189 6.22 44,386 59 Consumer: Residential mortgage 33,515 404 4.81 24,423 253 4.15 9,092 37 Automobile 15,650 229 5.87 15,132 219 5.82 518 3 Home equity 11,878 202 6.85 10,196 186 7.32 1,682 16 RV and marine 5,646 76 5.44 5,921 79 5.31 (275) (5) Other consumer 2,544 64 10.09 1,863 51 10.88 681 37 Total consumer 69,233 975 5.65 57,535 788 5.49 11,698 20 Total loans and leases 189,255 2,782 5.84 133,171 1,977 5.91 56,084 42 Total earning assets 258,600 3,402 5.28 191,092 2,572 5.40 67,508 35 Cash and due from banks 2,036 1,407 629 45 Goodwill and other intangible assets 10,468 5,640 4,828 86 All other assets 13,377 9,713 3,664 38 Total assets $284,481 $207,852 $76,629 37% Liabilities and shareholders’ equity: Interest-bearing deposits: Demand deposits—interest-bearing $62,388 $285 1.83% $44,677 $223 2.00% $17,711 40% Money market deposits 75,309 493 2.62 61,090 464 3.05 14,219 23 Savings deposits 18,940 39 0.83 15,127 11 0.28 3,813 25 Time deposits 26,758 231 3.46 13,290 124 3.74 13,468 101 Total interest-bearing deposits 183,395 1,048 2.29 134,184 822 2.46 49,211 37 Short-term borrowings 1,887 18 3.65 1,261 13 4.37 626 50 Long-term debt 20,971 264 5.06 17,776 254 5.69 3,195 18 Total interest-bearing liabilities 206,253 1,330 2.59 153,221 1,089 2.85 53,032 35 Demand deposits—noninterest-bearing 40,008 29,245 10,763 37 All other liabilities 5,620 4,788 832 17 Total liabilities 251,881 187,254 64,627 35 Total Huntington shareholders’ equity 32,555 20,548 12,007 58 Non-controlling interest 45 50 (5) (10) Total equity 32,600 20,598 12,002 58 Total liabilities and equity $284,481 $207,852 $76,629 37% Net interest rate spread 2.69 2.55 Impact of noninterest-bearing funds on NIM 0.52 0.56 NII/NIM (FTE) $2,072 3.21% $1,483 3.11% (1)Calculated on an FTE basis, which represents a non-GAAP measure, assuming a 21% tax rate. (2)Yield/rates include the impact of applicable derivatives. Loan and lease and deposit average yield/rates also include the impact of applicable non- deferrable and amortized fees. (3)For purposes of this analysis, NALs are reflected in the average balances of loans and leases. 2026 2Q Form 10-Q 9 Table of Contents Quarterly Net Interest Income Net interest income for the second quarter of 2026 increased $585 million, or 40%, from the second quarter of 2025. FTE net interest income, a non-GAAP financial measure, for the second quarter of 2026 increased $589 million, or 40%, from the second quarter of 2025. The increase in FTE net interest income primarily reflected a $67.5 billion, or 35%, increase in average earning assets and a 10 basis point increase in the FTE NIM to 3.21%, partially offset by a $53.0 billion, or 35%, increase in average interest-bearing liabilities. The increases in average earning assets and average interest-bearing liabilities were attributable to a combination of the Cadence and Veritex acquisitions and organic growth. The increase in the NIM was driven by lower funding costs, partially offset by lower yields on interest earning assets. Quarterly Average Balance Sheet Average assets for the second quarter of 2026 were $284.5 billion, an increase of $76.6 billion, or 37%, from the second quarter of 2025. Average assets were impacted by $51.3 billion of total assets acquired in connection with the Cadence transaction which was effective February 1, 2026, and $12.0 billion of total assets acquired in connection with the Veritex transaction which was effective October 20, 2025. The increase in average assets was primarily due to increases in average loans and leases of $56.1 billion, or 42%, average investment and other securities of $6.6 billion, or 15%, average goodwill and other intangible assets of $4.8 billion, or 86%, and average interest-earning deposits with banks of $4.7 billion, or 38%. The increase in average loans and leases, inclusive of acquired Cadence and Veritex loans and leases, included growth in average commercial loans and leases of $44.4 billion, or 59%, and average consumer loans of $11.7 billion, or 20%. The Cadence acquisition added $36.9 billion of loans as of the acquisition date, including $26.4 billion of commercial loans and $10.5 billion of consumer loans. The Veritex acquisition added $9.3 billion of loans as of the acquisition date, including $8.2 billion of commercial loans and $1.1 billion of consumer loans. Average liabilities for the second quarter of 2026 increased $64.6 billion, or 35%, from the second quarter of 2025. Average liability increases were also impacted by the Cadence and Veritex acquisitions. The increase in average liabilities was primarily due to increases in average deposits of $60.0 billion, or 37%, and average total borrowings of $3.8 billion, or 20%. The increase in average deposits included an increase in average interest-bearing deposits of $49.2 billion, or 37%, primarily due to increases in average money market, interest-bearing demand, and time deposits, and an increase in noninterest-bearing deposits of $10.8 billion, or 37%. The increase in average total borrowings was driven by holding company and bank debt issuances, an increase in FHLB borrowings, and CLN transactions over the last year. The Cadence acquisition added $43.5 billion of deposits as of the acquisition date, including $8.8 billion of noninterest-bearing deposits and $34.7 billion of interest-bearing deposits. The Veritex acquisition added $10.5 billion of deposits as of the acquisition date, including $2.4 billion of noninterest-bearing deposits and $8.1 billion of interest-bearing deposits. Following completion of the acquisitions, certain higher-cost acquired Cadence and Veritex deposits were allowed to run-off in order to optimize our funding mix. Average shareholders’ equity for the second quarter of 2026 increased $12.0 billion, or 58%, from the second quarter of 2025, primarily due to the impact of common stock issued in connection with the Cadence and Veritex acquisitions, earnings, net of dividends, and the impact of issued and acquired preferred stock. 10 Huntington Bancshares Incorporated Table of Contents Year-to-Date Average Balance Sheet / Net Interest Income The following table details the change in our year-to-date average balance sheet and the net interest margin. Table 3 - Consolidated YTD Average Balance Sheet and Net Interest Margin Analysis Six Months Ended June 30, 2026 Six Months Ended June 30, 2025 Average Interest Income/Expense Yield/ Average Interest Income/Expense Yield/ Change in Average Balances (dollar amounts in millions) Balances (FTE) (1) Rate (1)(2) Balances (FTE) (1) Rate (1)(2) Amount Percent Assets: Interest-earning deposits with banks $16,309 $297 3.65% $11,950 $268 4.49% 4,359 36 Trading account assets 258 5 3.84 561 10 3.70 (303) (54) Investment and other securities: Available-for-sale securities: Taxable 29,784 543 3.65 24,130 565 4.68 5,654 23 Tax-exempt 3,464 85 4.89 3,252 83 5.08 212 7 Total available-for-sale securities 33,248 628 3.77 27,382 648 4.73 5,866 21 Held-to-maturity securities—taxable 14,772 196 2.65 16,243 215 2.65 (1,471) (9) Other securities 1,295 33 5.08 879 24 5.57 416 47 Total investment and other securities 49,315 857 3.47 44,504 887 3.98 4,811 11 Loans held for sale 1,182 37 6.18 665 21 6.45 517 78 Loans and leases (3): Commercial: Commercial and industrial 85,978 2,527 5.85 58,478 1,787 6.08 27,500 47 Commercial real estate 22,539 697 6.15 10,902 368 6.71 11,637 107 Lease financing 5,740 200 6.92 5,467 181 6.57 273 5 Total commercial 114,257 3,424 5.96 74,847 2,336 6.21 39,410 53 Consumer: Residential mortgage 31,962 757 4.74 24,362 503 4.13 7,600 31 Automobile 15,852 461 5.87 14,900 426 5.77 952 6 Home equity 11,603 395 6.87 10,160 369 7.33 1,443 14 RV and marine 5,639 152 5.44 5,936 157 5.32 (297) (5) Other consumer 2,464 122 9.99 1,818 99 10.94 646 36 Total consumer 67,520 1,887 5.62 57,176 1,554 5.47 10,344 18 Total loans and leases 181,777 5,311 5.83 132,023 3,890 5.89 49,754 38 Total earning assets 248,841 6,507 5.27 189,703 5,076 5.40 59,138 31 Cash and due from banks 1,908 1,406 502 36 Goodwill and other intangible assets 9,825 5,646 4,179 74 All other assets 12,813 9,722 3,091 32 Total assets $273,387 $206,477 $66,910 32% Liabilities and shareholders’ equity: Interest-bearing deposits: Demand deposits—interest-bearing $57,711 $531 1.86% $44,132 $428 1.96% $13,579 31% Money market deposits 75,263 939 2.52 60,654 922 3.06 14,609 24 Savings deposits 18,489 69 0.76 14,998 18 0.24 3,491 23 Time deposits 24,822 429 3.48 13,639 264 3.90 11,183 82 Total interest-bearing deposits 176,285 1,968 2.25 133,423 1,632 2.47 42,862 32 Short-term borrowings 1,816 34 3.73 1,350 27 4.10 466 35 Long-term debt 20,611 523 5.07 17,341 493 5.68 3,270 19 Total interest-bearing liabilities 198,712 2,525 2.56 152,114 2,152 2.85 46,598 31 Demand deposits—noninterest-bearing 37,776 29,096 8,680 30 All other liabilities 5,623 4,944 679 14 Total liabilities 242,111 186,154 55,957 30 Total Huntington shareholders’ equity 31,233 20,274 10,959 54 Non-controlling interest 43 49 (6) (12) Total equity 31,276 20,323 10,953 54 Total liabilities and equity $273,387 $206,477 $66,910 32% Net interest rate spread 2.71 2.55 Impact of noninterest-bearing funds on NIM 0.52 0.56 NII/NIM (FTE) $3,982 3.23% $2,924 3.11% (1)Calculated on an FTE basis, which represents a non-GAAP measure, assuming a 21% tax rate. (2)Yield/rates include the impact of applicable derivatives. Loan and lease and deposit average yield/rates also include the impact of applicable non- deferrable and amortized fees. (3)For purposes of this analysis, NALs are reflected in the average balances of loans and leases. 2026 2Q Form 10-Q 11 Table of Contents Year-to-Date Net Interest Income Net interest income for the first six-month period of 2026 increased $1.1 billion, or 36%, from the year-ago period. FTE net interest income, a non-GAAP financial measure, for the first six-month period of 2026 also increased $1.1 billion, or 36%, from the year-ago period. The increase in FTE net interest income reflected a 12 basis point increase in the FTE NIM to 3.23% and a $59.1 billion, or 31%, increase in average total earning assets, partially offset by a $46.6 billion, or 31%, increase in interest-bearing liabilities. The higher NIM was driven by lower funding costs, partially offset by the decrease in yields on interest earning assets. Year-to-Date Average Balance Sheet Average assets for the first six-month period of 2026, inclusive of the impacts of the Cadence and Veritex acquisitions, were $273.4 billion, an increase of $66.9 billion, or 32%, from the year-ago period, with the increase primarily due to increases in average loans and leases of $49.8 billion, or 38%, total investment and other securities of $4.8 billion, or 11%, and average interest-earning deposits with banks of $4.4 billion, or 36%. The increase in average loans and leases included growth in average commercial loans and leases of $39.4 billion, or 53%, and average consumer loans of $10.3 billion, or 18%. Average liabilities for the first six-month period of 2026, inclusive of the impacts of the Cadence and Veritex acquisitions, increased $56.0 billion, or 30%, from the year-ago period, primarily due to increases in average deposits of $51.5 billion, or 32%, and in average total borrowings of $3.7 billion or 20%. Average deposits increased due to an increase in average interest-bearing deposits of $42.9 billion, or 32%, primarily driven by increases in average money market, interest-bearing demand, time, and savings deposits, and an increase in noninterest-bearing deposits of $8.7 billion, or 30%. The increase in average total borrowings was driven by an increase in short- and long-term FHLB advances and long-term debt issuances used to support asset growth. Average shareholders’ equity for the first six-month period of 2026 increased $11.0 billion, or 54%, from the year-ago period primarily due to the impact of common stock issued in connection with the Cadence and Veritex acquisitions, earnings, net of dividends and the impact of issued and acquired preferred stock. Provision for Credit Losses (This section should be read in conjunction with the “Credit Risk” section.) The provision for credit losses for the second quarter of 2026 was $132 million, an increase of $29 million, or 28%, compared to the second quarter of 2025. The provision for credit losses for the first six-month period of 2026 was $290 million, an increase of $72 million, or 33%, compared to the year-ago period. The increase in provision expense in the second quarter of 2026, compared to the second quarter of 2025, and for the first six months of 2026, compared to the year-ago period, is reflective of loan growth and higher net loan charge-offs, partially offset by a lower overall reserve coverage. The provision for credit losses is also impacted by fluctuations in the provision for unfunded lending commitments. The following table presents the components of the provision for credit losses. Table 4 - Provision for Credit Losses Three Months Ended Six Months Ended (dollar amounts in millions) June 30, 2026 June 30, 2025 June 30, 2026 June 30, 2025 Provision for loan and lease losses $125 $134 $375 $239 Provision (benefit) for unfunded lending commitments 7 (31) (85) (18) Provision (benefit) for securities — — — (3) Total provision for credit losses $132 $103 $290 $218 12 Huntington Bancshares Incorporated Table of Contents Noninterest Income The following table reflects noninterest income for each of the periods presented. Table 5 - Noninterest Income Three Months Ended Six Months Ended June 30, June 30, Change June 30, June 30, Change (dollar amounts in millions) 2026 2025 Percent 2026 2025 Percent Payments and cash management revenue $204 $165 24% $391 $320 22% Wealth and asset management revenue 134 102 31 254 203 25 Customer deposit and loan fees 128 95 35 238 181 31 Capital markets and advisory fees 140 84 67 272 151 80 Mortgage banking income 53 28 89 85 59 44 Insurance income 21 19 11 42 39 8 Leasing revenue 29 10 190 42 24 75 Net gains (losses) on sales of securities 2 (58) 103 15 (58) 126 Other noninterest income 74 26 185 128 46 178 Total noninterest income $785 $471 67% $1,467 $965 52% Noninterest income for the second quarter of 2026 was $785 million, an increase of $314 million, or 67%, from the year-ago quarter, inclusive of the impact of the Cadence and Veritex acquisitions. Capital markets and advisory fees increased $56 million, or 67%, primarily due to higher advisory fees from the legacy business and the impact of three strategic business units acquired from Janney, in addition to higher syndication fees. Payments and cash management revenue increased $39 million, or 24%, driven by higher cash management and interchange revenue. Customer deposit and loan fees increased $33 million, or 35%, primarily due to an increase in commitment fees and the volume of personal service charges. Wealth and asset management revenue increased $32 million, or 31%, primarily due to higher investment management and trust income. Mortgage banking income increased $25 million, or 89%, due to an increase in net origination and secondary marketing income. Other noninterest income increased $48 million largely due to the net impact of credit risk transfer transactions, favorable valuation changes on strategic and other investments, and an increase in bank owned life insurance income. Lastly, the second quarter of 2025 included a $58 million loss from the sale of certain investment securities as part of ongoing portfolio positioning. Noninterest income for the first six-month period of 2026 increased $502 million, or 52%, from the year-ago period, inclusive of the impact of the Cadence and Veritex acquisitions. Capital markets and advisory fees increased $121 million, or 80%, primarily due to higher advisory fees and the impact of three strategic business units acquired from Janney, in addition to higher syndication and underwriting fees. Payments and cash management revenue increased $71 million, or 22%, reflecting higher cash management and interchange revenue. Customer deposit and loan fees increased $57 million, or 31%, primarily reflecting an increase in the volume of personal service charges and an increase in commitment fees. Wealth and asset management revenue increased $51 million, or 25%, reflecting higher investment management and trust income. Mortgage banking income increased $26 million, or 44%, due to an increase in net origination and secondary marketing income. Other noninterest income increased $82 million, or 178%, primarily due to the net impact of credit risk transfer transactions, favorable valuation changes on strategic and other investments, and an increase in bank owned life insurance income. In addition, the first six- month period of 2026 included a $15 million gain from the sale of certain investment securities compared to a $58 million loss from the year-ago period, both as part of ongoing portfolio positioning. 2026 2Q Form 10-Q 13 Table of Contents Noninterest Expense The following table reflects noninterest expense for each of the periods presented. Table 6 - Noninterest Expense Three Months Ended Six Months Ended June 30, June 30, Change June 30, June 30, Change (dollar amounts in millions) 2026 2025 Percent 2026 2025 Percent Personnel costs $1,010 $722 40% $2,002 $1,393 44% Outside data processing and other services 326 182 79 637 352 81 Equipment 96 68 41 189 135 40 Net occupancy 90 54 67 175 119 47 Professional services 31 22 41 75 44 70 Marketing 38 28 36 75 57 32 Deposit and other insurance expense 38 20 90 73 57 28 Amortization of intangibles 54 11 391 95 22 332 Lease financing equipment depreciation 2 2 — 5 6 (17) Other noninterest expense 124 88 41 257 164 57 Total noninterest expense $1,809 $1,197 51% $3,583 $2,349 53% Number of employees (average full-time equivalent) 26,407 20,242 30% 25,527 20,166 27% Noninterest expense in the second quarter of 2026 was $1.8 billion, an increase of $612 million, or 51%, from the year-ago quarter. Noninterest expense for the first six-month period of 2026 was $3.6 billion, an increase of $1.2 billion, or 53%, from the year-ago period. Noninterest expense for the second quarter of 2026 and for the first six- month period of 2026 included $152 million and $415 million, respectively, of acquisition-related expenses, as detailed in the following table. There were no acquisition-related expenses in the first six months of 2025. Table 7 - Impact of Acquisition-related Expenses Three Months Ended Six Months Ended June 30, June 30, (dollar amounts in millions) 2026 2026 Personnel costs $38 $135 Outside data processing and other services 74 162 Equipment 15 34 Net occupancy 2 4 Professional services 4 22 Marketing 8 14 Deposit and other insurance expense 7 7 Other noninterest expense 4 37 Total impact of acquisition-related expenses $152 $415 Excluding acquisition-related expenses, noninterest expense for the second quarter of 2026 was $1.7 billion, an increase of $460 million, or 38%, from the year-ago quarter, inclusive of the impact of the Cadence and Veritex acquisitions. Personnel costs increased $250 million, or 35%, primarily due to higher salary, benefit, and incentive compensation expense. Outside data processing and other services increased $70 million, or 38%, primarily reflecting higher technology and data expense. Amortization of intangibles increased $43 million primarily due to the impact from the addition of core deposit intangibles from the acquisitions. Net occupancy increased $34 million, or 63%, largely due to increases in lease and depreciation expense. Other noninterest expense increased $32 million, or 36%, primarily due to an increased volume of expense activity driven by the impact of the acquisitions. 14 Huntington Bancshares Incorporated Table of Contents Excluding acquisition-related expenses, noninterest expense for the first six-month period of 2026 was $3.2 billion, an increase of $819 million, or 35%, from the year-ago period, inclusive of the impact of the Cadence and Veritex acquisitions. Personnel costs increased $474 million, or 34%, primarily due to higher salary, benefit, and incentive compensation expense. Outside data processing increased $123 million, or 35%, primarily due to higher technology and data expense. Amortization of intangibles increased $73 million primarily due to the impact from the addition of core deposit intangibles from the acquisitions. Net occupancy expense increased $52 million, or 44%, primarily due to increases in lease and depreciation expense. Equipment expense increased $20 million, or 15%, primarily due to an increase in depreciation expense. Other noninterest expense increased $56 million, or 34%, primarily due to an increased volume of expense activity driven by the impact of the acquisitions. Provision for Income Taxes The provision for income taxes and effective tax rate were $165 million and 18.4%, respectively, in the second quarter of 2026, compared to $96 million and 15.0%, respectively, in the second quarter of 2025. The provision for income taxes and effective tax rate were $279 million and 18.1%, respectively, for the six-month period ended June 30, 2026, compared to $218 million and 16.8%, respectively, for the six-month period ended June 30, 2025. The increases in the effective tax rates in both current year periods, compared to the prior year periods, related primarily to higher income before taxes in the current year periods and the benefit from remeasurement of deferred tax assets for changes in certain state tax laws which were enacted in the prior year periods. All periods included the benefits from general business credits, tax-exempt income, tax-exempt bank-owned life insurance income, and investments in qualified affordable housing projects. The net federal deferred tax asset was $1.3 billion and the net state deferred tax asset was $129 million at June 30, 2026, compared to a net federal deferred tax asset of $856 million and a net state deferred tax asset of $92 million at December 31, 2025. We file income tax returns with the IRS and various state, city, and foreign jurisdictions. Federal income tax audits have been completed for tax years through 2019. The 2020-2024 tax years remain open under the statute of limitations. Also, with few exceptions, the Company is no longer subject to state, city, or foreign income tax examinations for tax years before 2021. RISK MANAGEMENT Our Risk Governance Framework and Risk Appetite Statement are foundational to the risk management program. The Risk Governance Framework defines the three lines of defense structure, roles, responsibilities, and requirements. The Risk Appetite Statement is approved by our Board and defines the level and types of risks we are willing to assume to achieve our corporate objectives through defined risk limits for the key risk categories to which we are exposed: credit, market, liquidity, operational, compliance, and strategic. More information on our risk management can be found in Item 1A: Risk Factors, the Risk Factors section included in Item 1A of our 2025 Annual Report on Form 10-K, and subsequent filings with the SEC. Our definition, philosophy, and approach to risk management have not materially changed from the discussion presented in the 2025 Annual Report on Form 10-K. Credit Risk Credit risk is the risk of financial loss if a counterparty is not able to meet the agreed upon terms of the financial obligation. The majority of our credit risk is associated with lending activities, as the acceptance and management of credit risk is central to profitable lending. A number of other products expose the Company to credit risk, including investment securities and derivatives. Credit exposure is limited to the sum of the aggregate fair value of positions that have become favorable to us, including any accrued interest receivable due from counterparties. Potential credit losses are mitigated by derivatives through central clearing parties, careful evaluation of counterparty credit standing, selection of counterparties from a limited group of high quality institutions, collateral agreements, and other contract provisions. 2026 2Q Form 10-Q 15 Table of Contents We focus on the early identification, monitoring, and management of all aspects of our credit risk. In addition to the traditional credit risk mitigation strategies of credit policies and processes, market risk management activities, and portfolio diversification, we use quantitative measurement capabilities utilizing external data sources, enhanced modeling technology, and internal stress testing processes. Our disciplined portfolio management processes are central to our commitment to maintaining an aggregate moderate-to-low risk appetite. In our efforts to identify risk mitigation techniques, we have focused on product design features, origination policies, and solutions for delinquent or stressed borrowers. Loan and Lease Credit Exposure Mix Refer to the “Loan and Lease Credit Exposure Mix” section of our 2025 Annual Report on Form 10-K for a description of each portfolio segment. At June 30, 2026, our loans and leases totaled $189.4 billion, representing a $39.8 billion, or 27%, increase compared to $149.6 billion at December 31, 2025. The increase was driven by a combination of the Cadence acquisition and organic growth. As of the Cadence acquisition date, acquired loans totaled $36.9 billion, including $17.4 billion of commercial and industrial loans, $9.4 billion of commercial real estate loans, $131 million of lease financing loans, $8.2 billion of residential mortgage loans, $1.5 billion of home equity loans, and $264 million of other consumer loans. The table below provides the composition of our total loan and lease portfolio. Table 8 - Loan and Lease Portfolio Composition (dollar amounts in millions) At June 30, 2026 At December 31, 2025 Commercial: Commercial and industrial $91,378 49% $69,442 46% Commercial real estate 23,457 12 15,209 10 Lease financing 5,714 3 5,727 4 Total commercial 120,549 64 90,378 60 Consumer: Residential mortgage 33,221 18 24,777 17 Automobile 15,460 8 16,168 11 Home equity 11,884 6 10,395 7 RV and marine 5,706 3 5,682 4 Other consumer 2,602 1 2,242 1 Total consumer 68,873 36 59,264 40 Total loans and leases $189,422 100% $149,642 100% Our loan and lease portfolio is a managed mix of consumer and commercial credits. We manage the overall credit exposure and portfolio composition via a credit concentration policy. The policy designates specific loan types, collateral types, and loan structures to be formally tracked and assigned maximum exposure limits as a percentage of capital. Commercial lending by NAICS categories, specific limits for CRE project types, loans secured by residential real estate, large dollar exposures, and designated high risk loan categories represent examples of specifically tracked components of our concentration management process. As of June 30, 2026, there were no identified concentrations that exceed the assigned exposure limit. Our concentration management policy is approved by the ROC and is used to ensure a high quality, well diversified portfolio that is consistent with our overall objective of maintaining an aggregate moderate-to-low risk appetite. Changes to existing concentration limits and incorporating specific information relating to the potential impact on the overall portfolio composition and performance metrics require the approval of the ROC prior to implementation. 16 Huntington Bancshares Incorporated Table of Contents The table below provides our total loan and lease portfolio segregated by industry type. The changes in the industry composition from December 31, 2025 are consistent with the portfolio growth metrics. Table 9 - Loan and Lease Portfolio by Industry Type (dollar amounts in millions) At June 30, 2026 At December 31, 2025 Commercial loans and leases: Real estate and rental and leasing $28,802 15% $20,237 14% Finance and insurance 15,922 9 10,489 7 Retail trade (1) 13,119 7 12,181 8 Manufacturing 8,706 5 8,265 6 Health care and social assistance 7,705 4 5,920 4 Wholesale trade 6,314 3 5,842 4 Accommodation and food services 6,293 3 4,228 3 Construction 4,756 3 2,369 2 Utilities 4,506 2 3,156 2 Transportation and warehousing 4,327 2 3,288 2 Other services 3,552 2 3,617 2 Professional, scientific, and technical services 3,180 2 2,296 2 Information 2,887 2 1,937 1 Arts, entertainment, and recreation 2,537 2 1,923 1 Admin./support/waste mgmt. and remediation services 2,402 1 1,844 1 Management of companies and enterprises 1,217 1 243 — Public administration 1,097 1 816 1 Educational services 895 — 738 — Agriculture, forestry, fishing, and hunting 862 — 410 — Mining, quarrying, and oil and gas extraction 734 — 147 — Unclassified/Other 736 — 432 — Total commercial loans and leases by industry category 120,549 64 90,378 60 Residential mortgage 33,221 18 24,777 17 Automobile 15,460 8 16,168 11 Home equity 11,884 6 10,395 7 RV and marine 5,706 3 5,682 4 Other consumer loans 2,602 1 2,242 1 Total loans and leases $189,422 100% $149,642 100% (1)Amounts include $5.8 billion and $4.3 billion of auto dealer services loans at June 30, 2026 and December 31, 2025, respectively. The following tables present our commercial real estate portfolio by property type and geographic location. Table 10 - Commercial Real Estate Portfolio by Property Type At June 30, 2026 At December 31, 2025 (dollar amounts in millions) Amount by Property Type % of Total Loans and Leases Amount by Property Type % of Total Loans and Leases Multi-family $6,733 4% $4,822 3% Warehouse/Industrial 4,629 2 3,054 2 Retail 3,536 2 2,224 1 Office 2,633 1 1,804 1 Hotel 1,904 1 1,438 1 Other 4,022 2 1,867 1 Total commercial real estate loans and leases $23,457 12% $15,209 9% 2026 2Q Form 10-Q 17 Table of Contents Table 11 - Commercial Real Estate Portfolio by Geographic Location At June 30, 2026 At December 31, 2025 (dollar amounts in millions) Amount by Location (1) % of Total CRE Loans and Leases Amount by Location (1) % of Total CRE Loans and Leases Texas $7,090 30% $4,090 27% Ohio 2,331 10 2,176 14 Michigan 1,782 8 1,872 12 Florida 1,714 7 830 5 Georgia 1,479 6 347 2 Illinois 724 3 787 5 Alabama 702 3 186 1 Colorado 625 3 555 4 Tennessee 485 2 73 — North Carolina 483 2 269 2 Other 6,042 26 4,024 28 Total commercial real estate loans and leases $23,457 100% $15,209 100% (1)Geographic location based on location of underlying collateral. Our CRE portfolio totaled $23.5 billion at June 30, 2026, an increase of $8.2 billion, or 54%, compared to December 31, 2025, driven by $9.4 billion of loans acquired as a result of the completion of the Cadence acquisition. The CRE portfolio had an associated allowance coverage of 3.4% and 3.7% at June 30, 2026 and December 31, 2025, respectively. Credit Quality (This section should be read in conjunction with Note 5 - “Loans and Leases” and Note 6 - “Allowance for Credit Losses” of the Notes to Unaudited Consolidated Financial Statements.) We believe the most meaningful way to assess overall credit quality performance is through an analysis of specific performance ratios. This approach forms the basis of the discussion in the sections immediately following: NALs and NPAs, ACL, and NCOs. In addition, we utilize delinquency rates, risk distribution and migration patterns, product segmentation, and origination trends in the analysis of our credit quality performance. 18 Huntington Bancshares Incorporated Table of Contents NALs and NPAs The following table presents the details of our NALs and NPAs. Table 12 - Nonaccrual Loans and Leases and Nonperforming Assets (dollar amounts in millions) At June 30, 2026 At December 31, 2025 Nonaccrual loans and leases (NALs): Commercial and industrial $986 $562 Commercial real estate 243 133 Lease financing 8 8 Residential mortgage 223 107 Automobile 7 6 Home equity 120 113 RV and marine 2 2 Total nonaccrual loans and leases 1,589 931 Other real estate, net 23 13 Other NPAs (1) — 1 Total nonperforming assets $1,612 $945 Nonaccrual loans and leases as a % of total loans and leases 0.84% 0.62% NPA ratio (2) 0.85 0.63 (1)Other nonperforming assets include certain impaired investment securities and/or nonaccrual loans held-for-sale. (2)Nonperforming assets divided by the sum of loans and leases, other real estate owned, and other NPAs. NPAs totaled $1.6 billion at June 30, 2026, an increase of $667 million, or 71%, from December 31, 2025, with the increase primarily due to $295 million of NPAs assumed in the Cadence acquisition and additional increases in commercial and industrial, commercial real estate, and residential mortgage NALs. ACL Our ACL is comprised of two different components, the ALLL and the AULC, both of which in our judgment are appropriate to absorb lifetime expected credit losses in our loan and lease portfolio. We utilize an independent third-party forecast that projects future economic conditions and considers multiple macroeconomic scenarios. These macroeconomic scenarios contain certain variables that are influential to our modeling process, the most significant being unemployment rates and GDP. For purposes of determining our ACL at June 30, 2026, we utilized a baseline economic scenario that assumes the labor market has softened, with the unemployment rate peaking at 4.6% in the fourth quarter of 2026 and expected to remain elevated at 4.6% in the first half of 2027. The Federal Reserve is projected to continue the current cycle of rate cuts, but cuts are expected later in 2026 and 2027, with the federal funds rate projected to return to 3% by 2028. Inflation is forecasted to remain above the Federal Reserve’s target level of 2%, with inflation still at or near 3% by the end of 2026. Forecasted GDP growth moderated from the first quarter, with growth projected at approximately 2.2% in 2026 before easing below 2% in 2027. The economic outlook became more uncertain during the second quarter as energy prices remained above prior expectations, while ongoing developments in the Middle East present risks to the outlook and contribute to elevated uncertainty. 2026 2Q Form 10-Q 19 Table of Contents The table below shows the forecasted path of unemployment and GDP in the baseline economic scenario compared to the end of 2025. Table 13 - Forecasted Key Macroeconomic Variables 2025 2026 2027 Baseline scenario forecast Q4 Q2 Q4 Q2 Q4 Unemployment rate (1) 2Q 2026 N/A 4.3 4.6 4.6 4.5 4Q 2025 4.3% 4.6% 4.8% 4.7% 4.6% Gross Domestic Product (1) 2Q 2026 N/A 2.6 1.6 1.8 1.9 4Q 2025 0.5% 2.3% 1.8% 1.9% 2.0% (1)Values reflect the baseline scenario forecast inputs for each period presented, not updated for subsequent actual amounts. Management continues to assess the uncertainty in the macroeconomic environment, including ongoing risks in the commercial real estate environment, current inflation levels, the impacts of U.S. trade policies, including tariffs, the impact of higher oil prices, political uncertainty, and geopolitical instability, considering multiple macroeconomic forecasts that reflect a range of possible outcomes. While we have incorporated estimates of economic uncertainty into our ACL, the ultimate impact that specific challenges will have on the economy remains unknown. Management develops additional analytics to support adjustments to our modeled results. Our Allowance for Credit Loss Development Methodology Committee reviewed model results of each economic scenario for appropriate usage, concluding that the quantitative transaction reserve will continue to utilize scenario weighting. Given the uncertainty associated with key economic scenario assumptions, the June 30, 2026 ACL included a general reserve that consists of various risk profile components, including profiles to capture uncertainty not addressed within the quantitative transaction reserve. The most significant risk profile components included within our qualitative reserve at June 30, 2026 relate to business banking loans, including SBA guaranteed loans, and leveraged lending within the C&I portfolio. The business banking risk profile addresses a modest upward trend in default rates resulting from the current interest rate environment and inflationary impacts on customers. The leveraged lending risk profile addresses concerns relating to the current interest rate environment and macroeconomic environment. Our ACL evaluation process includes the on-going assessment of credit quality metrics and a comparison of certain ACL benchmarks to current performance. 20 Huntington Bancshares Incorporated Table of Contents The table below reflects the allocation of our ACL among our various loan and lease categories as well as certain coverage metrics of the reported ALLL and ACL. Table 14 - Allocation of Allowance for Credit Losses At June 30, 2026 At December 31, 2025 (dollar amounts in millions) Allocation of Allowance % of Total ALLL % of Total Loans and Leases (1) Allocation of Allowance % of Total ALLL % of Total Loans and Leases (1) Commercial Commercial and industrial $1,443 44% 49% $1,070 42% 46% Commercial real estate 800 25 12 569 22 10 Lease financing 96 3 3 92 4 4 Total commercial 2,339 72 64 1,731 68 60 Consumer Residential mortgage 259 8 18 205 9 17 Automobile 169 5 8 181 7 11 Home equity 174 5 6 149 6 7 RV and marine 129 4 3 136 5 4 Other consumer 179 6 1 135 5 1 Total consumer 910 28 36 806 32 40 Total ALLL 3,249 2,537 AULC 132 206 Total ACL $3,381 $2,743 Total ALLL as a % of: Total loans and leases 1.72% 1.70% Nonaccrual loans and leases 204 272 NPAs 202 269 Total ACL as % of: Total loans and leases 1.78% 1.83% Nonaccrual loans and leases 213 295 NPAs 210 290 (1)Percentages represent the percentage of each loan and lease category to total loans and leases. At June 30, 2026, the ACL was $3.4 billion, or 1.78% of total loans and leases, compared to $2.7 billion, or 1.83%, at December 31, 2025. The increase in the ACL was driven by $578 million of ACL recorded for loans and commitments acquired in the Cadence transaction, as well as organic loan and lease growth. The ACL coverage ratio at June 30, 2026 is reflective of the current macroeconomic forecast and changes in various risk profiles intended to capture uncertainty not addressed within the quantitative reserve. 2026 2Q Form 10-Q 21 Table of Contents NCOs The table below reflects NCO detail. Table 15 - Net Charge-off Analysis Three Months Ended Six Months Ended (dollar amounts in millions) June 30, 2026 June 30, 2025 June 30, 2026 June 30, 2025 Net charge-offs (recoveries) by loan and lease type: Commercial: Commercial and industrial (1) $66 $32 $120 $80 Commercial real estate 3 (3) 5 (11) Lease financing (3) 2 (3) 6 Total commercial 66 31 122 75 Consumer: Residential mortgage 3 1 4 1 Automobile 12 7 27 20 Home equity 1 — 1 — RV and marine 6 5 13 12 Other consumer 31 22 63 44 Total consumer 53 35 108 77 Total net charge-offs $119 $66 $230 $152 Net charge-offs (recoveries) - annualized percentages: Commercial: Commercial and industrial 0.29% 0.22% 0.28% 0.28% Commercial real estate 0.06 (0.14) 0.04 (0.20) Lease financing (0.18) 0.12 (0.08) 0.22 Total commercial 0.22 0.16 0.21 0.20 Consumer: Residential mortgage 0.03 0.01 0.02 0.01 Automobile 0.32 0.19 0.35 0.27 Home equity 0.01 0.01 0.02 0.01 RV and marine 0.44 0.33 0.47 0.39 Other consumer 4.88 4.86 5.08 4.87 Total consumer 0.30 0.25 0.32 0.27 Net charge-offs as a % of average loans and leases 0.25% 0.20% 0.25% 0.23% (1)Net charge-offs for the six months ended June 30, 2026 include $23 million of charge-offs on certain loans previously charged off by Cadence, which were written up to the unpaid principal balance at acquisition and then immediately charged off by Huntington as required by purchase accounting. NCOs were $119 million, or 0.25% of average total loans and leases on an annualized basis, in the second quarter of 2026, an increase of $53 million compared to $66 million, or 0.20% of average total loans and leases on an annualized basis, in the year-ago quarter. The increase reflects a $35 million increase in commercial NCOs to $66 million, and an $18 million increase in consumer NCOs to $53 million, in the second quarter of 2026. As a percentage of average loans and leases, annualized NCOs for commercial loans and leases were 0.22% in the second quarter of 2026, compared to 0.16% in the year-ago quarter, while annualized consumer loan NCOs were 0.30% in the second quarter of 2026, compared to 0.25% in the year-ago quarter. 22 Huntington Bancshares Incorporated Table of Contents NCOs were $230 million, or 0.25% of average total loans and leases on an annualized basis, in the six-month period ended June 30, 2026, an increase of $78 million compared to $152 million, or 0.23% of average total loans and leases on an annualized basis, in the six-month period ended June 30, 2025. The increase reflects a $47 million increase in commercial NCOs to $122 million, and a $31 million increase in consumer NCOs to $108 million, in the six-month period ended June 30, 2026. As a percentage of average loans and leases, annualized NCOs for commercial loans and leases were 0.21% for the first six-month period of 2026, compared to 0.20% in the year-ago period, while annualized consumer loan NCOs were 0.32% in the first six-month period of 2026, compared to 0.27% in the year-ago period. Market Risk Market risk refers to potential losses arising from changes in interest rates, credit spreads, foreign exchange rates, equity prices, and commodity prices, including the correlation among these factors and their volatility. When the value of an instrument is tied to such external factors, the holder faces market risk. We are exposed primarily to interest rate risk as a result of offering a wide array of financial products to our customers, and secondarily to price risk from trading securities, securities owned by our broker-dealer subsidiaries, foreign exchange positions, equity investments, and investments in securities backed by mortgage loans. We measure market risk exposure via financial simulation models that provide management with insights on the potential impact to net interest income and other key metrics as a result of changes in market interest rates. Models are used to simulate cash flows and accrual characteristics of the balance sheet based on assumptions regarding the slope or shape of the yield curve, the direction and volatility of interest rates, and the changing composition and characteristics of the balance sheet resulting from strategic objectives and customer behavior. Our models incorporate market-based assumptions that include the impact of changing interest rates on prepayment rates of assets and runoff rates of deposits. The models also include our projections of the future volume and pricing of various business lines. In measuring the financial risks associated with interest rate sensitivity in our balance sheet, we compare a set of alternative interest rate scenarios to the results of a base case scenario derived using market forward rates. The market forward rates reflect the general market consensus regarding the future level and slope of the yield curve across a range of tenor points. The standard set of interest rate scenarios includes two types: “shock” scenarios, which are immediate parallel rate shifts, and “ramp” scenarios, where the parallel shift is applied gradually over the first 12 months of the forecast on a pro-rata basis. In both shock and ramp scenarios with falling rates, we presume that market rates will not go below 0%. The scenarios include all executed interest rate risk hedging activities. Forward-starting hedges are included to the extent that they have been transacted and that they start within the measurement horizon. A key driver of our interest rate risk profile is our assumption of interest-bearing deposit repricing sensitivity to changes in interest rates, otherwise known as deposit beta. In addition, our interest expense is impacted by the composition of both interest-bearing and noninterest-bearing deposits in relation to our total deposits. Accordingly, we consider the impacts from both interest-bearing and noninterest-bearing deposits on our total deposit beta. Following the start of the current falling rate cycle, which began in the third quarter of 2024, our cumulative total deposit beta (total cost of deposits) through the second quarter of 2026 was 30%. We use two approaches to model interest rate risk: net interest income at risk (NII at Risk) and economic value of equity at risk modeling sensitivity analysis (EVE at Risk). NII at Risk is used by management to measure the risk and impact to earnings over the next 12 months, using a wide range of interest rate scenarios, including instantaneous and gradual, as well as parallel and non-parallel, changes in interest rates. The NII at Risk results included in the table below present select gradual “ramp” -200, -100, +100 and +200 basis point parallel shift scenarios, implied by the forward yield curve over the next 12 months. 2026 2Q Form 10-Q 23 Table of Contents Table 16 - Net Interest Income at Risk At June 30, 2026 At December 31, 2025 Federal Funds Rate Federal Funds Rate Basis point change scenario Starting Point Month 12 (1) NII at Risk (%) Starting Point Month 12 (1) NII at Risk (%) +200 3.75% 6.00% 2.8% 3.75% 5.25% 2.5% +100 3.75 5.00 1.4 3.75 4.25 0.9 Base 3.75 4.00 — 3.75 3.25 — -100 3.75 3.00 -1.0 3.75 2.25 -0.6 -200 3.75 2.00 -1.8 3.75 1.25 -1.9 (1)Represents the federal funds rate in month 12 given a gradual, parallel “ramp” relative to the base implied forward scenario. The NII at Risk shows that the balance sheet is asset-sensitive at both June 30, 2026, and December 31, 2025. The primary drivers to the change in sensitivity from December 31, 2025 include current and projected balance sheet composition, including impacts from the Cadence acquisition, over the simulation horizon and market rates. EVE at Risk is used by management to measure the impact of interest rate changes on the net present value of assets and liabilities, including derivative exposures, using a wide range of scenarios. The EVE results included in the table below present select immediate -200, -100, +100 and +200 basis point parallel “shock” scenarios from the yield curve term points at the specific point in time that EVE sensitivity is measured. Table 17 - Economic Value of Equity at Risk Economic Value of Equity at Risk (%) Basis point change scenario -200 -100 +100 +200 At June 30, 2026 -2.0% 0.6% -2.4% -6.3% At December 31, 2025 0.3 1.7 -3.5 -8.3 The change in sensitivity from December 31, 2025 was driven primarily by market rates and changes to actual balance sheet composition, in part due to impacts from the Cadence acquisition. Use of Derivatives to Manage Interest Rate Risk An integral component of our interest rate risk management strategy is the use of derivative instruments to minimize significant fluctuations in earnings caused by changes in market interest rates. A variety of derivative financial instruments, principally interest rate swaps, swaptions, floors, forward contracts, and forward-starting interest rate swaps, are used in asset and liability management activities to protect against the risk of adverse price or interest rate movements. These instruments provide flexibility in adjusting Huntington’s sensitivity to changes in interest rates without exposure to loss of principal and higher funding requirements. Table 18 shows all swap and floor positions that are utilized for purposes of managing our exposures to the variability of interest rates. The interest rate variability may impact either the fair value of the assets and liabilities or the cash flows attributable to net interest margin. These positions are used to protect the fair value of assets and liabilities by converting the contractual interest rate on a specified amount of assets and liabilities (i.e., notional amounts) to another interest rate index. The positions are also used to hedge the variability in cash flows attributable to the contractually specified interest rate by converting the variable-rate index into a fixed rate. The volume, maturity, and mix of derivative positions change frequently as we adjust our broader interest rate risk management objectives and the balance sheet positions to be hedged. For further information, including the notional amount and fair values of these derivatives, refer to Note 15 - “Derivative Financial Instruments” of the Notes to Unaudited Consolidated Financial Statements. 24 Huntington Bancshares Incorporated Table of Contents The following presents additional information about the interest rate swaps and floors used in Huntington’s asset and liability management activities. Table 18 - Information on Asset Liability Management Instruments Weighted-Average Maturity (years) Weighted-AverageFixed Rate (dollar amounts in millions) Notional Value Fair Value At June 30, 2026 Asset conversion swaps Securities (1): Pay Fixed - Receive SOFR $1,500 7.73 $149 2.14% Pay Fixed - Receive SOFR - forward-starting (2) 4,122 12.08 73 3.81 Loans: Receive Fixed - Pay SOFR 16,025 1.75 (151) 3.22 Receive Fixed - Pay SOFR - forward-starting (3) 4,600 3.58 (71) 3.37 Liability conversion swaps Receive Fixed - Pay SOFR 10,099 2.61 (136) 3.45 Receive Fixed - Pay SOFR - forward-starting (3) 2,300 3.82 (43) 3.38 Purchased floor spreads (4) Purchased Floor Spread - SOFR 4,950 2.91 34 2.65 / 3.75 Basis swaps (5) Pay SOFR - Receive Fed Fund (economic hedges) 27 4.33 — 3.65 Pay Fed Fund - Receive SOFR (economic hedges) 1 9.31 — 3.73 Total swap portfolio $43,624 $(145) At December 31, 2025 Asset conversion swaps Securities (1): Pay Fixed - Receive SOFR $3,987 3.92 $130 2.48% Pay Fixed - Receive SOFR - forward-starting (6) 1,160 12.47 44 3.36 Loans: Receive Fixed - Pay SOFR 15,800 2.05 (2) 3.18 Receive Fixed - Pay SOFR - forward-starting (7) 2,500 4.21 (3) 3.30 Liability conversion swaps Receive Fixed - Pay SOFR 10,599 2.97 (22) 3.51 Purchased floor spreads (4) Purchased Floor Spread - SOFR 6,750 1.06 30 2.80 / 3.87 Purchased Floor Spread - SOFR forward-starting (7) 3,200 3.49 51 2.83 / 3.83 Basis swaps (5) Pay SOFR - Receive Fed Fund (economic hedges) 27 4.83 — 3.81 Pay Fed Fund - Receive SOFR (economic hedges) 1 9.81 — 3.99 Total swap portfolio $44,024 $228 (1)Amounts include interest rate swaps as fair value hedges of fixed rate investment securities using the portfolio layer method. (2)Forward-starting swaps effective starting from July 2026 to April 2029. (3)Forward-starting swaps and forward-starting floor spreads effective starting from July 2026 to March 2027. (4)The weighted-average fixed rates for floor spreads are the weighted-average strike rates for the upper and lower bounds of the instruments. (5)Basis swaps have variable pay and variable receive resets. Weighted-average fixed rate column represents pay rate reset. (6)Forward-starting swaps effective starting from February 2026 to October 2027. (7)Forward-starting swaps and forward-starting floor spreads effective starting from January 2026 to December 2026. Use of Derivatives to Manage Credit Risk We may utilize credit derivatives as a tool to manage credit risk within the portfolio by purchasing credit protection over certain types of loan products. When we purchase credit protection, such as a CDS, we pay a fee to the seller, or CDS counterparty, in return for the right to receive a payment if a specified credit event occurs. 2026 2Q Form 10-Q 25 Table of Contents MSRs (This section should be read in conjunction with Note 7 - “Mortgage Loan Sales and Servicing Rights” of Notes to Unaudited Consolidated Financial Statements.) At June 30, 2026, we had a total of $752 million of capitalized MSRs representing the right to service $43.4 billion in mortgage loans. MSR fair values are sensitive to movements in interest rates, as expected future net servicing income depends on the projected outstanding principal balances of the underlying loans, which can be reduced by prepayments and declines in credit quality. Prepayments usually increase when mortgage interest rates decline and decrease when mortgage interest rates rise. We also employ hedging strategies to reduce the risk of MSR fair value changes. However, volatile changes in interest rates can diminish the effectiveness of these economic hedges. We report changes in the MSR value net of hedge-related trading activity in the mortgage banking income category of noninterest income. MSR assets are included in servicing rights and other intangible assets in the Unaudited Consolidated Financial Statements. Price Risk Price risk represents the risk of loss arising from adverse movements in the prices of financial instruments that are carried at fair value and are subject to fair value accounting. We have price risk from trading securities, securities owned by our broker-dealer subsidiaries, foreign exchange positions, derivative instruments, and equity investments. We have established loss limits on the trading portfolio, on the amount of foreign exchange exposure that can be maintained, and on the amount of marketable equity securities that can be held. Liquidity Risk Liquidity risk is the possibility of us being unable to meet current and future financial obligations in a timely manner. The goal of liquidity management is to ensure adequate, stable, reliable, and cost-effective sources of funds to satisfy changes in loan and lease demand, unexpected levels of deposit withdrawals, investment opportunities, and other contractual obligations. We consider core earnings, strong capital ratios, and credit quality essential for maintaining high credit ratings, which allow us cost-effective access to market-based liquidity. We mitigate liquidity risk by maintaining a large, stable customer deposit base and a diversified base of readily available wholesale funding sources, including secured funding sources from the FHLB and FRB through pledged borrowing capacity, issuance through dealers in the capital markets, and access to deposits issued through brokers. We further mitigate liquidity risk by maintaining liquid assets in the form of cash and cash equivalents and securities. The Board of Directors is responsible for establishing an acceptable level of liquidity risk at Huntington, including approval of the liquidity risk appetite at least annually. The liquidity risk appetite includes liquidity risk metrics that are designed and monitored to ensure Huntington maintains adequate liquidity to meet current and future funding needs, including during periods of potential stress. The Board receives and reviews information on at least a semi- annual basis to ensure Huntington is operating in accordance with its established risk tolerance. Further, the ALCO is appointed by the ROC to oversee liquidity risk management, including the establishment of liquidity risk policies and additional liquidity risk metrics and limits to support our overall liquidity risk appetite. Liquidity risk appetite metrics are monitored by senior management daily and are reported to the Board at least semi-annually and to ROC on a more frequent basis. Liquidity risk is reviewed and managed continuously for the Bank and the parent company, as well as its subsidiaries. In addition, liquidity working groups meet regularly to identify and monitor liquidity positions, provide policy guidance, review funding strategies, and oversee the adherence to, and maintenance of, contingency funding plans. At June 30, 2026, management believes current sources of liquidity are sufficient to meet Huntington’s on- and off-balance sheet obligations over the next 12 months and for the foreseeable future. 26 Huntington Bancshares Incorporated Table of Contents We maintain a contingency funding plan that provides for liquidity stress testing, which assesses the potential erosion of funds in the event of an institution-specific event or systemic financial market crisis. Examples of institution specific events could include a downgrade in our public credit rating by a rating agency, a large charge to earnings, declines in profitability or other financial measures, declines in liquidity sources including reductions in deposit balances or access to contingent funding sources, or a significant merger or acquisition. Examples of systemic events unrelated to us that could have an effect on our access to liquidity would be terrorism or war, natural disasters, political events, failure of a major financial institution, or the default or bankruptcy of a major corporation, mutual fund, or hedge fund. Similarly, market speculation or rumors about us, or the banking industry in general, may adversely affect the cost and availability of normal funding sources. The contingency funding plan, which is reviewed and approved by the ROC at least annually, outlines the process for addressing a liquidity crisis and provides for an evaluation of funding sources under various market conditions. It also assigns specific roles and responsibilities and communication protocols for effectively managing liquidity through a problem period and outlines early warning indicators that are used to monitor emerging liquidity stress events. Deposits Our largest source of liquidity on a consolidated basis is customer deposits, which provide stable and lower-cost funding. Our customer deposits come from a base of primary bank customer relationships, and we continue to focus on acquiring and deepening those relationships, resulting in a diversified deposit base. Total deposits were $222.5 billion at June 30, 2026, compared to $176.6 billion at December 31, 2025. The $45.9 billion, or 26%, increase in total deposits, compared to December 31, 2025, was primarily driven by $43.5 billion of deposits acquired in the Cadence acquisition, in addition to organic deposit growth. Total deposits included $5.8 billion of brokered deposits primarily consisting of brokered money market and time deposit balances at June 30, 2026, compared to $5.9 billion at December 31, 2025. The level of brokered deposits was below our established liquidity risk metric limits at June 30, 2026. Insured deposits comprised approximately 69% and 70% of our total deposits at June 30, 2026 and December 31, 2025, respectively. The composition of our deposits is presented in the table below. Table 19 - Deposit Composition (dollar amounts in millions) At June 30, 2026 At December 31, 2025 By type: Demand deposits—noninterest-bearing $40,129 18% $32,205 18% Demand deposits—interest-bearing 62,395 28 48,510 27 Money market deposits 75,717 34 65,123 37 Savings deposits 18,820 9 15,426 9 Time deposits 25,405 11 15,346 9 Total deposits $222,466 100% $176,610 100% Total deposits (insured/uninsured): Insured deposits $153,290 69% $123,744 70% Uninsured deposits (1) 69,176 31 52,866 30 Total deposits $222,466 100% $176,610 100% (1)Represents consolidated Huntington uninsured deposits, determined by adjusting the amounts reported in the Bank Call Report (FFIEC 031) by inter- company deposits, which are not customer deposits and are therefore eliminated through consolidation. As of June 30, 2026, the Bank Call Report estimated uninsured deposit balance was $73.7 billion, which includes $4.6 billion of inter-company deposits. As of December 31, 2025, the Bank Call Report estimated uninsured deposit balance was $56.9 billion, which includes $4.1 billion of inter-company deposits. Wholesale Funding Sources of wholesale funding include non-customer brokered deposits, short-term borrowings, and long-term debt. Our wholesale funding totaled $27.6 billion at June 30, 2026, an increase of $3.2 billion compared to $24.4 billion at December 31, 2025. The increase from year end was primarily due to a $1.9 billion increase in short-term borrowings, primarily comprised of short-term FHLB advances, and a $1.5 billion increase in long-term debt driven by $1.8 billion of senior and subordinated debt issuances, partially offset by maturities and repayments. 2026 2Q Form 10-Q 27 Table of Contents Cash and Cash Equivalents and Investment Securities Cash and cash equivalents were $15.6 billion and $13.5 billion at June 30, 2026 and December 31, 2025, respectively. The $2.1 billion increase in cash and cash equivalents was largely due to higher branch cash on hand and float balances at the end of the 2026 second quarter to support customer activity in conjunction with the Cadence systems and branch conversions, as well as higher interest-earning deposits held at the FRB as part of prudent liquidity risk management to support our strong liquidity position. Our investment securities portfolio is evaluated under established ALCO objectives. Changing market conditions could affect the profitability of the portfolio, as well as the level of interest rate risk exposure. Total investment securities, comprised of AFS and HTM securities, were $49.6 billion at June 30, 2026, compared to $41.4 billion at December 31, 2025. The $8.2 billion increase in investment securities, compared to December 31, 2025, was largely driven by $9.0 billion of investment securities acquired in the Cadence transaction. At June 30, 2026, the duration of the investment securities portfolio, net of hedging, was 3.2 years. Securities are pledged to secure borrowing capacity with the FHLB and the FRB, discussed further in the Bank Liquidity and Sources of Funding section below. Bank Liquidity and Sources of Funding Our primary source of funding for the Bank is customer deposits. At June 30, 2026, customer deposits funded 76% of total assets (114% of total loans and leases). To the extent we are unable to obtain sufficient liquidity through customer deposits, cash and cash equivalents, and investment securities, we may meet our liquidity needs through wholesale funding and asset securitization or sale. Additionally, the Bank may also access funding through intercompany notes or parent company deposits placed at the Bank. The Bank maintains borrowing capacity at both the FHLB and the FRB secured by pledged loans and securities. While the Bank does not consider borrowing capacity at the FRB a primary source of funding, it could be used as a potential source of liquidity in a stressed environment or during a market disruption. The amount of available contingent borrowing capacity may fluctuate based on the level of borrowings outstanding and level of assets pledged. A summary of the Bank’s selected contingent liquidity sources is presented in the following table. Table 20 - Selected Contingent Liquidity Sources (dollar amounts in millions) At June 30, 2026 At December 31, 2025 Unused secured borrowing capacity: FRB $80,905 $71,296 FHLB 22,789 16,212 Unpledged investment securities (at market value) 11,675 11,743 Interest-earning deposits held at FRB 12,269 11,712 Selected contingent liquidity sources $127,638 $110,963 As of June 30, 2026, we believe the Bank has sufficient liquidity and capital resources to meet its cash flow obligations over the next 12 months and for the foreseeable future. Parent Company Liquidity The parent company’s primary financial obligations consist of dividends to shareholders, debt service, income taxes, operating expenses, funding of nonbank subsidiaries, repurchases of our stock, and acquisitions. The parent company obtains funding to meet obligations from dividends and interest received from the Bank, interest and dividends received from direct subsidiaries, net taxes collected from subsidiaries included in the federal consolidated tax return, fees for services provided to subsidiaries, and the issuance of debt and equity instruments. The parent company had cash and cash equivalents of $4.1 billion and $3.6 billion at June 30, 2026 and December 31, 2025, respectively. 28 Huntington Bancshares Incorporated Table of Contents On July 22, 2026, our Board of Directors declared a quarterly cash dividend on our common stock of $0.155 per common share, payable on October 1, 2026 to shareholders of record on September 17, 2026. Additionally, on July 22, 2026, our Board of Directors declared quarterly dividends on our Series B, F, G, H, J, and K preferred stock, payable on October 15, 2026 to shareholders of record on October 1, 2026, and a quarterly dividend on our Series L preferred stock, payable on November 20, 2026 to shareholders of record on November 5, 2026. On June 24, 2026, our Board of Directors declared a quarterly dividend on our Series I preferred stock, payable on September 1, 2026 to shareholders of record on August 15, 2026. Current quarterly dividend declarations are expected to total approximately $354 million. During the first six months of 2026, the Bank paid common dividends to the parent company of $550 million. During the first quarter of 2026, the Bank redeemed all of its preferred stock outstanding that had previously been held by the parent company. To meet any additional liquidity needs, the parent company may issue debt or equity securities. To support the parent company’s ability to issue debt or equity securities, we have filed an automatic shelf registration statement with the SEC covering an indeterminate amount or number of securities to be offered or sold from time to time as authorized by Huntington’s Board of Directors. As of June 30, 2026, we believe the Company has sufficient liquidity and capital resources to meet its cash flow obligations over the next 12 months and for the foreseeable future. Credit Ratings Credit ratings represent evaluations by rating agencies based on a number of factors, including financial strength and the ability to generate earnings, as well as factors not entirely within our control, including conditions affecting the financial services industry, the economy, and changes in rating methodologies. Credit ratings are subject to change at any time. Our credit ratings impact our availability and cost of financing, as well as collateral requirements for certain derivative instruments and deposit products. A downgrade to our credit ratings could adversely affect our access to capital, increase our cost of funds, or trigger additional collateral or funding requirements. The following table presents our credit ratings and rating agency outlooks. Table 21 - Credit Ratings and Outlook At June 30, 2026 Moody’s Standard & Poor’s Fitch DBRS Morningstar Huntington Bancshares Incorporated Senior unsecured notes Baa1 BBB+ A- A Subordinated notes Baa1 BBB BBB+ A (low) Commercial paper NR NR F1 R-1 (low) Ratings outlook Negative Stable Stable Stable The Huntington National Bank Senior unsecured notes A3 A- A- A (high) Long-term deposits A1 NR (1) A A (high) Short-term deposits P-1 NR (1) F1 R-1 (middle) Ratings outlook Negative Stable Stable Stable NR - Not Rated (1) Standard & Poor’s does not provide a depositor rating. The Bank’s issuer credit rating is A-. Contractual Obligations and Commitments In the normal course of business, we enter into various contractual obligations and commitments that could impact our liquidity and capital resources. These arrangements include commitments to extend credit, interest rate swaps, floors, financial guarantees contained in standby letters-of-credit issued by the Bank, commitments by the Bank to sell mortgage loans, operating lease payments, and other purchase and marketing obligations. 2026 2Q Form 10-Q 29 Table of Contents Operational Risk Operational risk is the risk of loss due to human error, third-party performance failures, or inadequate or failed internal systems and controls, including the use of financial or other quantitative methodologies that may not adequately predict future results; violations of, or noncompliance with, laws, rules, regulations, prescribed practices, or ethical standards; and external influences such as market conditions, fraudulent activities, disasters, failed business contingency plans, and security risks. We continuously strive to test and strengthen our system of internal controls to ensure compliance with significant contracts, agreements, laws, rules, and regulations, to reduce our exposure to fraud and to improve the oversight of our operational risk. To govern operational risks, we have an Operational Risk Committee, a Legal, Regulatory, and Compliance Committee, a Funds Movement Committee, a Fraud Risk Committee, an Information and Technology Risk Committee, an Artificial Intelligence Risk Committee, a Regulatory and Data Oversight Committee, and a Third Party Risk Management Committee. The responsibilities of these committees, among other duties, include establishing and maintaining management information systems to monitor material risks and to identify potential concerns, risks, or trends that may have a significant impact and ensuring that recommendations are developed to address the identified issues. In addition, we have a Model Risk Oversight Committee that is responsible for policies and procedures describing how model risk is evaluated and managed and the application of the governance process to implement these practices throughout the enterprise. These committees report any significant findings and remediation recommendations to the Risk Management Committee. Potential concerns may be escalated to our ROC and our Audit Committee, as appropriate. The goal of this framework is to implement effective operational risk monitoring; minimize operational, fraud, and legal losses; minimize the impact of inadequately designed models; and enhance our overall performance. Cybersecurity Cybersecurity represents an important component of Huntington’s overall cross-functional approach to risk management. We actively manage a cybersecurity operation designed to detect, contain, and respond to cybersecurity threats and incidents in a prompt and effective manner with the goal of minimizing disruptions to our business. We actively monitor for cyberattacks, such as attempts related to online deception and loss of sensitive customer data. We evaluate our technology, processes, and controls to mitigate loss from cyberattacks. Although to date we have not experienced any material losses due to cyberattacks, with the increasing sophistication, acceleration, and complexity of cyber events, including from developments in artificial intelligence and other emerging technologies, we cannot ensure that there will not be a material loss in the future. Cybersecurity threats continue to evolve and increase across the entire digital landscape. In response to the evolving threat landscape, we continue to enhance our cybersecurity, operational resilience, and third-party risk management capabilities, including efforts designed to improve the speed of vulnerability identification, remediation, monitoring, and recovery. We actively monitor our environment for malicious content and implement specific cybersecurity and fraud capabilities, including the monitoring of phishing email campaigns. In addition, we have implemented specific cybersecurity and fraud monitoring of remote connections by geography and volume of connections to detect anomalous remote logins, since a portion of our workforce works remotely from time to time. Our objective for managing cybersecurity risk is to avoid or minimize the impacts of both internal and external threat events or other efforts to penetrate our systems. We work to achieve this objective by hardening networks and systems against attack and by diligently managing visibility and monitoring controls within our data and communications environment to recognize events and respond before the attacker has the opportunity to plan and execute on its own goals. To this end, we employ a set of defense-in-depth strategies, which include efforts to make us less attractive as a target and less vulnerable to threats, while investing in threat analytic capabilities for rapid detection and response. Potential concerns related to cybersecurity may be escalated to our board-level ROC and/or Technology Committee, as appropriate. As a complement to the overall cybersecurity risk management, we use a number of internal training methods, both formally through mandatory courses and informally through written communications and other updates, to ensure awareness of the risks of cybersecurity threats at all levels across the organization. Internal policies and procedures have been implemented to encourage the reporting of potential phishing attacks or other security risks. We also use third-party services to test the effectiveness of our cybersecurity risk management framework, and any such third-parties are required to comply with our policies regarding information security and confidentiality. 30 Huntington Bancshares Incorporated Table of Contents Compliance Risk Compliance risk arises from the possibility that we may fail to comply with the extensive federal and state laws, rules, and regulations that govern our operations. These requirements span a broad range of obligations, including anti‑money laundering, consumer protection, lending and servicing standards, client privacy, fair lending, prohibitions against unfair, deceptive, or abusive acts or practices, protections for military service members, and community reinvestment expectations. We maintain a comprehensive compliance management framework designed to identify, assess, monitor, and report compliance risk across the Company. This framework is supported by dedicated compliance professionals who partner with our business segments to implement and maintain effective policies, procedures, and controls consistent with applicable regulatory requirements. Our colleagues receive mandatory training on core regulatory obligations such as anti‑money laundering and customer privacy, with additional targeted training for those engaged in lending activities, including flood disaster protection, equal credit opportunity, and fair lending. We continue to invest in systems, processes, and governance to support compliance with evolving regulatory expectations. Ongoing changes in regulatory requirements and supervisory priorities may affect our compliance risk profile. We remain committed to maintaining strong compliance practices and to enhancing our compliance program as necessary to align with applicable laws, rules, and regulations and to support our aggregate moderate‑to‑low, through‑the‑cycle risk appetite. CAPITAL Our primary capital objective is to maintain appropriate levels of capital within our Board-approved risk appetite to support the Bank’s operations, absorb unanticipated losses and declines in asset values, and provide protection to uninsured depositors and debt holders in the event of liquidation, while also funding organic growth and providing appropriate returns to our shareholders. We manage regulatory capital and shareholders’ equity at the Bank and on a consolidated basis. We have an active program for managing capital, and we maintain a comprehensive process for assessing our overall capital adequacy, including the monitoring and reporting of capital risk metrics to the Board and ROC that we believe are useful for evaluating capital adequacy and making capital decisions. In addition to as- reported regulatory capital and tangible common equity metrics, we also actively monitor other measures of capital, such as tangible common equity including the mark-to-market impact on HTM securities and CET1 including the impact of AOCI excluding cash flow hedges. We believe our current levels of both regulatory capital and shareholders’ equity are adequate. 2026 2Q Form 10-Q 31 Table of Contents The following table presents certain regulatory capital information at both the consolidated and Bank level. Table 22 - Regulatory Capital Information (dollar amounts in millions) At June 30, 2026 At December 31, 2025 Consolidated: CET1 risk-based capital ratio 10.0% 10.4% Tier 1 risk-based capital ratio 11.3 12.0 Total risk-based capital ratio 13.6 14.2 Tier 1 leverage ratio 8.8 9.3 CET1 risk-based capital $21,388 $17,286 Tier 1 risk-based capital 24,279 20,027 Total risk-based capital 29,076 23,593 Total risk-weighted assets 214,138 166,684 Bank: CET1 risk-based capital ratio 11.8% 11.7% Tier 1 risk-based capital ratio 12.0 12.4 Total risk-based capital ratio 13.8 14.0 Tier 1 leverage ratio 9.3 9.6 CET1 risk-based capital $25,197 $19,426 Tier 1 risk-based capital 25,622 20,626 Total risk-based capital 29,502 23,165 Total risk-weighted assets 213,211 165,701 At June 30, 2026, Huntington and the Bank maintained capital ratios in excess of the well-capitalized standards established by the Federal Reserve. Our consolidated CET1 risk-based capital ratio was 10.0% at June 30, 2026, compared to 10.4% at December 31, 2025, with the decrease driven by higher risk-weighted assets primarily resulting from loan growth, the impact of the Cadence acquisition, and share repurchases, partially offset by an increase in regulatory capital from current period earnings, net of dividends. The Bank CET1 risk-based capital ratio of 11.8% increased approximately 10 basis points from year-end driven by bank earnings, net of upstream dividends to the parent, and a $780 million capital contribution from the parent, which the Bank in turn used to redeem its outstanding preferred stock held by the parent, partially offset by higher risk-weighted assets and the impact of the Cadence acquisition. We are authorized to make capital distributions that are consistent with the requirements in the Federal Reserve’s capital rule, including the SCB requirement. Our SCB requirement is 2.5%. Shareholders’ Equity We generate shareholders’ equity primarily through the retention of earnings, net of dividends and share repurchases. Other potential sources of shareholders’ equity include issuances of common and preferred stock. Our objective is to maintain capital at an amount commensurate with our risk appetite and risk tolerance objectives, to meet both regulatory and market expectations, and to provide the flexibility needed for future growth and business opportunities. Shareholders’ equity totaled $32.6 billion at June 30, 2026, an increase of $8.3 billion, or 34%, when compared with December 31, 2025. The increase was primarily driven by $8.3 billion of common and preferred equity issued as consideration for the Cadence acquisition, in addition to earnings, net of dividends, that were partially offset by share repurchases and a reduction in accumulated other comprehensive income driven by changes in interest rates. Our common dividend and total payout ratios were 55% and 81%, respectively, for the first six-month period of 2026, compared to 46% for both ratios for the same period of 2025. The year-over-year increase in the common dividend payout ratio was due to the impact of acquisition-related expenses on earnings. 32 Huntington Bancshares Incorporated Table of Contents Share Repurchases From time to time, our Board of Directors authorizes the Company to repurchase shares of our common stock. Although we announce when our Board authorizes share repurchases, we typically do not give any public notice before we repurchase our shares at any particular time. Share repurchases may include open market purchases, through block trades, in privately negotiated transactions, and pursuant to any trading plan that may be adopted by the Company’s management in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934, as amended, or otherwise, and is subject to the Federal Reserve’s capital regulations. The timing of repurchases will be discretionary and depend on several factors, including the macroeconomic and interest rate environment, the pace of loan growth, and other factors. On April 22, 2026, our Board approved the repurchase of up to $3.0 billion of common shares with no expiration date. During the six months ended June 30, 2026, we repurchased 18.8 million shares totaling $309 million. As of June 30, 2026, we had $2.95 billion of common shares available for repurchase under the current Board-approved authorization. BUSINESS SEGMENT DISCUSSION Overview Our business segments are based on our internally aligned segment leadership structure, which is how management monitors results and assesses performance. We have two business segments: Consumer & Regional Banking and Commercial Banking. All other items not included within our two business segments are reported within the Treasury / Other function, which primarily includes technology and operations and other unallocated assets, liabilities, revenue, and expense. Business segment results are determined based on our management practices, which assign balance sheet and income statement items to each of the business segments. The process is designed around our organizational and management structure and, accordingly, the results derived are not necessarily comparable with similar information published by other financial institutions. Revenue Sharing Revenue is recorded in the business segment responsible for the related product or service. Fee sharing is recorded to allocate portions of such revenue to other business segments involved in selling to or providing service to customers. Results of operations for the business segments reflect these fee-sharing allocations. Expense Allocation The management process that develops the business segment reporting utilizes various estimates and allocation methodologies to measure the performance of the business segments. Expenses are allocated to business segments using a two-phase approach. The first phase consists of measuring and assigning unit costs (activity-based costs) to activities related to product origination and servicing. These activity-based costs are then extended, based on volumes, with the resulting amount allocated to business segments that own the related products. The second phase consists of the allocation of overhead costs to the business segments from Treasury / Other. We utilize a full- allocation methodology, where all Treasury / Other expenses, except reported acquisition-related expenses, if any, and a small amount of other residual unallocated expenses, are allocated to the business segments. Funds Transfer Pricing (FTP) We use an active and centralized FTP methodology to attribute appropriate net interest income to the business segments. The intent of the FTP methodology is to transfer interest rate risk from the business segments by providing modeled duration funding of assets and liabilities. The result is to centralize the financial impact, management, and reporting of interest rate risk in the Treasury / Other function where it can be centrally monitored and managed. The Treasury / Other function charges (credits) an internal cost of funds for assets held in (or pays for funding provided by) each business segment. The FTP rate is based on prevailing market interest rates for comparable duration assets (or liabilities). The primary components of the FTP rate include a base (market) rate, a liquidity premium, contingent liquidity and collateral charges, and option cost. 2026 2Q Form 10-Q 33 Table of Contents Net Income (Loss) by Business Segment Net income (loss) by business segment is presented in the following table. Table 23 - Net Income (Loss) by Business Segment Six Months Ended (dollar amounts in millions) June 30, 2026 June 30, 2025 Consumer & Regional Banking $1,010 $616 Commercial Banking 708 552 Treasury / Other (468) (105) Net income attributable to Huntington $1,250 $1,063 Consumer & Regional Banking Table 24 - Key Performance Indicators for Consumer & Regional Banking Six Months Ended Change (dollar amounts in millions) June 30, 2026 June 30, 2025 Amount Percent Net interest income $2,823 $1,957 $866 44% Provision for credit losses 164 185 (21) (11) Net interest income after provision for credit losses 2,659 1,772 887 50 Noninterest income 844 666 178 27 Noninterest expense: Direct personnel costs 789 599 190 32 Other noninterest expense, including corporate allocations 1,435 1,060 375 35 Total noninterest expense 2,224 1,659 565 34 Income before income taxes 1,279 779 500 64 Provision for income taxes 269 163 106 65 Net income attributable to Huntington $1,010 $616 $394 64% Number of employees (average full-time equivalent) 13,725 11,261 2,464 22% Total average assets $109,218 $78,511 $30,707 39 Total average loans/leases 100,143 72,601 27,542 38 Total average deposits 145,615 111,558 34,057 31 Net interest margin 3.80% 3.48% 0.32% 9 NCOs $189 $118 $71 60 NCOs as a % of average loans and leases 0.38% 0.33% 0.05% 15 Total assets under management (in billions)—eop $49.6 $35.3 $14.3 41 Total trust assets (in billions)—eop 68.9 182.8 (113.9) (62) Consumer & Regional Banking net income was $1.0 billion in the six-month period of 2026, an increase of $394 million, or 64%, compared to the year-ago period. Segment net interest income increased $866 million, or 44%, primarily due to a $27.5 billion, or 38%, increase in average loans and leases, which includes the Cadence and Veritex acquisitions, and a 32 basis point increase in NIM. Provision for credit losses decreased $21 million due to changes in the loan portfolio, partially offset by net charge-offs. Noninterest income increased $178 million, or 27%, primarily due to the impact of the Cadence and Veritex acquisitions, as well as growth in customer deposit fee income, wealth and asset management revenue, and payments and cash management revenue. Noninterest expense increased $565 million, or 34%, primarily due to incremental expenses associated with the Cadence and Veritex acquisitions, along with higher personnel costs and indirect expense allocations. 34 Huntington Bancshares Incorporated Table of Contents Commercial Banking Table 25 - Key Performance Indicators for Commercial Banking Six Months Ended Change (dollar amounts in millions) June 30, 2026 June 30, 2025 Amount Percent Net interest income $1,359 $1,026 $333 32% Provision for credit losses 125 33 92 279 Net interest income after provision for credit losses 1,234 993 241 24 Noninterest income 527 339 188 55 Noninterest expense: Direct personnel costs 393 288 105 36 Other noninterest expense, including corporate allocations 462 332 130 39 Total noninterest expense 855 620 235 38 Income before income taxes 906 712 194 27 Provision for income taxes 190 150 40 27 Income attributable to non-controlling interest 8 10 (2) (20) Net income attributable to Huntington $708 $552 $156 28% Number of employees (average full-time equivalent) 2,689 2,179 510 23% Total average assets $91,627 $68,697 $22,930 33 Total average loans/leases 81,386 59,201 22,185 37 Total average deposits 59,132 43,002 16,130 38 Net interest margin 3.28% 3.34% (0.06)% (2) NCOs $40 $34 $6 18 NCOs as a % of average loans and leases 0.10% 0.12% (0.02)% (17) Commercial Banking net income was $708 million in the first six-month period of 2026, an increase of $156 million, or 28%, compared to the year-ago period. Segment net interest income increased $333 million, or 32%, primarily driven by a $22.2 billion, or 37%, increase in average loans and leases and a $16.1 billion, or 38%, increase in average deposits. The increases in loans and leases and deposits were driven by the impact of the Cadence and Veritex acquisitions, as well as organic growth. The provision for credit losses increased $92 million primarily due to loan and lease growth. Noninterest income increased $188 million, or 55%, primarily due to the contributions of Cadence and Veritex, and an additional increase in capital markets and advisory fees, which included the impact of three strategic business units acquired from Janney in January 2026. Customer deposit and loan fees, payment and cash management, and leasing revenue were also higher. Noninterest expense increased $235 million, or 38%, primarily driven by higher personnel expense related to the recent acquisitions and higher allocated overhead. Treasury / Other The Treasury / Other function includes revenue and expense related to assets, liabilities, derivatives (including mark-to-market of interest rate swaps, as applicable), and equity not directly assigned or allocated to one of the business segments. Assets include investment securities and bank-owned life insurance. Net interest income includes the impact of administering our investment securities portfolios, the net impact of derivatives used to hedge interest rate sensitivity, and the financial impact associated with our FTP methodology, as described above. Noninterest income includes miscellaneous fee income not allocated to other business segments, such as bank-owned life insurance income and securities and trading asset gains or losses. Noninterest expense includes certain corporate administrative expenses, acquisition-related expenses, if any, and other miscellaneous expenses not allocated to other business segments. The provision for income taxes for the business segments is calculated at a statutory 21% tax rate, although our overall effective tax rate is lower. 2026 2Q Form 10-Q 35 Table of Contents Table 26 - Key Performance Indicators for Treasury / Other Six Months Ended Change (dollar amounts in millions) June 30, 2026 June 30, 2025 Amount Percent Net interest loss $(239) $(90) $(149) (166)% Noninterest income 96 (40) 136 340 Noninterest expense: Direct personnel costs 820 506 314 62 Other noninterest expense, including corporate allocations (316) (436) 120 28 Total noninterest expense 504 70 434 620 Loss before income taxes (648) (200) (448) (224) Benefit for income taxes (180) (95) (85) (89) Net loss attributable to Huntington $(468) $(105) $(363) (346)% Number of employees (average full-time equivalent) 9,113 6,726 2,387 35% Total average assets $72,542 $59,269 $13,273 22 Treasury / Other had a net loss of $468 million in the first six-month period of 2026, compared to a net loss of $105 million in the year-ago period, driven by acquisition-related expenses, a decrease in net interest income, and a reduction in corporate allocations, partially offset by higher noninterest income and an increase in the benefit for income taxes. Net interest loss increased $149 million primarily due to the net impact of FTP credits assigned to each business segment. The increase in noninterest income was largely due to the addition of Cadence and Veritex, while the increase in noninterest expense was largely due to acquisition-related expenses. The benefit for income taxes increased $85 million primarily due to an increase in pre-tax loss. ADDITIONAL DISCLOSURES Forward-Looking Statements This Quarterly Report on Form 10-Q, including MD&A, contains certain forward-looking statements, including, but not limited to, certain plans, expectations, goals, projections, and statements, which are not historical facts and are subject to numerous assumptions, risks, estimates, and uncertainties that are beyond the control of Huntington. Statements that do not describe historical or current facts, including statements about beliefs and expectations, are forward-looking statements. Forward-looking statements may be identified by words such as expect, anticipate, continue, believe, intend, estimate, plan, trend, objective, target, goal, or similar expressions, or future or conditional verbs such as will, may, might, should, would, could, or similar variations. The forward-looking statements are intended to be subject to the safe harbor provided by Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and the Private Securities Litigation Reform Act of 1995. 36 Huntington Bancshares Incorporated Table of Contents While there is no assurance that any list of risks and uncertainties or risk factors is complete, below are certain factors which could cause actual results to differ materially from those contained or implied in the forward-looking statements or historical performance: changes in general economic, political, regulatory, or industry conditions; deterioration in business and economic conditions, including persistent inflation, supply chain issues or labor shortages, instability in global economic conditions and geopolitical conditions, including U.S. direct involvement in war and other conflicts, as well as volatility in financial markets; changes in U.S. trade policies, including the imposition of tariffs and retaliatory tariffs; the impact of pandemics and other catastrophic events or disasters on the global economy and financial market conditions and our business, results of operations, and financial condition; the impacts related to or resulting from bank failures and other volatility, including potential increased regulatory requirements and costs, such as FDIC special assessments, long-term debt requirements and heightened capital requirements; potential impacts to macroeconomic conditions, which could affect the ability of depository institutions, including us, to attract and retain depositors and to borrow or raise capital; unexpected outflows of deposits which may require us to sell investment securities at a loss; changing interest rates which could negatively impact the value of our portfolio of investment securities; the loss of value of our investment portfolio which could negatively impact market perceptions of us and could lead to deposit withdrawals; market perceptions of us and banks generally, including from the effects of social media; cybersecurity risks; uncertainty in U.S. fiscal and monetary policy, including the interest rate policies of the Federal Reserve; volatility and disruptions in global capital, foreign exchange, and credit markets; movements in interest rates; competitive pressures on product pricing and services; success, impact, and timing of our business strategies, including market acceptance of any new products or services including those implementing our “Fair Play” banking philosophy; introduction of new competitive products, such as stablecoins, and new competitors, such as financial technology companies and other “nontraditional” bank competitors; changes in policies and standards for regulatory review of bank mergers; the nature, extent, timing, and results of governmental actions, examinations, reviews, reforms, regulations, and interpretations, including those related to the Dodd-Frank Act and the Basel III regulatory capital reforms, as well as those involving the SEC, the OCC, the Federal Reserve, the FDIC, the CFPB, and state-level regulators; the possibility that the anticipated benefits of recent or proposed acquisitions are not realized when expected or at all, including as a result of the impact of, or problems arising from, the integration of the companies or as a result of the strength of the economy and competitive factors in the areas where the companies do business; and other factors that may affect the future results of Huntington. All forward-looking statements are expressly qualified in their entirety by the cautionary statements set forth above. Forward-looking statements speak only as of the date they are made and are based on information available at that time. Huntington does not assume any obligation to update forward-looking statements to reflect actual results, new information or future events, changes in assumptions or changes in circumstances or other factors affecting forward-looking statements that occur after the date the forward-looking statements were made or to reflect the occurrence of unanticipated events except as required by federal securities laws. If Huntington updates one or more forward-looking statements, no inference should be drawn that Huntington will make additional updates with respect to those or other forward-looking statements. As forward-looking statements involve significant risks and uncertainties, caution should be exercised against placing undue reliance on such statements. Non-GAAP Financial Measures This document contains GAAP financial measures and non-GAAP financial measures, including FTE net interest income, FTE total revenue, and the efficiency and tangible common equity ratios, where management believes it to be helpful in understanding our results of operations or financial position. Where non-GAAP financial measures are used, the comparable GAAP financial measure, as well as the reconciliation to the comparable GAAP financial measure, for FTE net interest income and FTE total revenue can be found in Table 1 in this report and in the reconciliation below for the efficiency and tangible common equity ratios. 2026 2Q Form 10-Q 37 Table of Contents Fully-Taxable Equivalent Basis Interest income, yields, and ratios on an FTE basis are considered non-GAAP financial measures. Management believes net interest income on an FTE basis provides an insightful picture of the interest margin for comparison purposes. The FTE basis also allows management to assess the comparability of revenue arising from both taxable and tax-exempt sources. The FTE basis assumes a federal statutory tax rate of 21%. We encourage readers to consider the Unaudited Consolidated Financial Statements and other financial information contained in this Form 10-Q in their entirety, and not to rely on any single financial measure. Non-Regulatory Capital Ratios In addition to capital ratios defined by banking regulators, the Company considers various other measures when evaluating capital utilization and adequacy, including tangible common equity to tangible assets. Non-regulatory capital ratios are viewed by management as useful additional methods of reflecting the level of capital available to withstand unexpected market conditions. Additionally, presentation of these ratios allows readers to compare our capitalization to other financial services companies. These ratios differ from capital ratios defined by banking regulators principally in that the numerator excludes goodwill and other intangible assets, the nature and extent of which varies among different financial services companies. These ratios are not defined in GAAP or federal banking regulations. As a result, non-regulatory capital ratios disclosed by the Company are considered non-GAAP financial measures. Because there are no standardized definitions for non-regulatory capital ratios, the Company’s calculation methods may differ from those used by other financial services companies. Also, there may be limits in the usefulness of these measures to investors. As a result, we encourage readers to consider the Unaudited Consolidated Financial Statements and other financial information contained in this Form 10-Q in their entirety, and not to rely on any single financial measure. The following table provides a reconciliation of the Company’s tangible common equity to tangible assets ratio. June 30, December 31, (dollar amounts in millions) 2026 2025 Calculation of tangible equity / asset ratio: Total Huntington shareholders’ equity $32,624 $24,342 Goodwill and other intangible assets (10,442) (6,142) Deferred tax liability on other intangible assets (1) 192 30 Total tangible equity 22,374 18,230 Preferred equity (2,881) (2,731) Total tangible common equity $19,493 $15,499 Total assets $283,984 $225,106 Goodwill and other intangible assets (10,442) (6,142) Deferred tax liability on other intangible assets (1) 192 30 Total tangible assets $273,734 $218,994 Shareholders' equity / total assets 11.5% 10.8% Tangible equity / tangible asset ratio 8.2 8.3 Tangible common equity / tangible asset ratio 7.1 7.1 (1)Deferred tax liability related to other intangible assets is calculated at a 21% tax rate. 38 Huntington Bancshares Incorporated Table of Contents Efficiency Ratio The following table provides a reconciliation of the Company’s efficiency ratio. Three Months Ended Six Months Ended (amounts in millions) June 30, 2026 June 30, 2025 June 30, 2026 June 30, 2025 Noninterest expense (GAAP) $1,809 $1,197 $3,583 $2,349 Less: Intangible amortization 54 11 95 22 Noninterest expense less amortization of intangibles (non-GAAP) $1,755 $1,186 $3,488 $2,327 Net interest income $2,052 $1,467 $3,943 $2,893 Noninterest income 785 471 1,467 965 Total Revenue (GAAP) 2,837 1,938 5,410 3,858 Add: FTE adjustment (1) 20 16 39 31 Less: Gains (losses) on sales of securities 2 (58) 15 (58) FTE revenue less gains (losses) on sales of securities (non-GAAP) $2,855 $2,012 $5,434 $3,947 Efficiency Ratio (2) 61.5% 59.0% 64.2% 58.9% (1)Calculated on an FTE basis, which represents a non-GAAP measure, assuming a 21% tax rate. (2)Noninterest expense less amortization of intangibles divided by the sum of FTE net interest income and noninterest income excluding gains (losses) on sales of securities, which represents a non-GAAP measure. Critical Accounting Policies and Use of Significant Estimates Our Unaudited Consolidated Financial Statements are prepared in accordance with GAAP. The preparation of financial statements in conformity with GAAP requires us to establish accounting policies and make estimates that affect amounts reported in our Unaudited Consolidated Financial Statements. Note 1 - “Significant Accounting Policies” of the Notes to Consolidated Financial Statements included in our 2025 Annual Report on Form 10-K, as supplemented by this report including this MD&A, describes the significant accounting policies we used in our Unaudited Consolidated Financial Statements. An accounting estimate requires assumptions and judgments about uncertain matters that could have a material effect on the Unaudited Consolidated Financial Statements. Estimates are made under facts and circumstances at a point in time, and changes in those facts and circumstances could produce results substantially different from those estimates. Our critical accounting policies include the allowance for credit losses, fair value measurements of certain acquired assets, and goodwill. The following details the policies, assumptions, and judgments related to the allowance for credit losses and acquisition fair value measurements. The policies, assumptions, and judgments related to goodwill are described in the Critical Accounting Policies and Use of Significant Estimates section within the MD&A of Huntington’s 2025 Annual Report on Form 10-K. Allowance for Credit Losses Our ACL at June 30, 2026 represents our current estimate of the lifetime credit losses expected from our loan and lease portfolio and our unfunded lending commitments. Management estimates the ACL by projecting probability of default, loss given default, and exposure at default, conditional on economic parameters, for the remaining contractual term. Internal factors that impact the quarterly allowance estimate include the level of outstanding balances, the portfolio performance, and assigned risk ratings. We utilize statistically based models that employ assumptions about current and future economic conditions throughout the contractual life of our loan portfolio. As part of our model risk oversight, we perform ongoing monitoring of model performance to assess modeling approaches and identify potential model enhancements, which may result in updates to our statistically based models from time to time. One of the most significant judgments influencing the ACL estimate is the macroeconomic forecasts. Key external economic parameters that directly impact our loss modeling framework include forecasted unemployment rates and GDP. Changes in the economic forecasts could significantly affect the estimated credit losses, which could potentially lead to materially different allowance levels from one reporting period to the next. 2026 2Q Form 10-Q 39 Table of Contents Given the dynamic relationship between macroeconomic variables within our modeling framework, it is difficult to estimate the impact of a change in any one individual variable on the allowance. As a result, management uses a probability-weighted approach that incorporates a baseline, an adverse, and a more favorable economic scenario when formulating the quantitative estimate. To illustrate a hypothetical sensitivity analysis, management calculated a quantitative allowance using a 100% weighting applied to an adverse scenario reflecting an amount of stress in excess of current expectations. This scenario contemplates elevated interest rates weakening credit-sensitive consumer spending and confidence more than expected. In this scenario, the impact of tariffs on the economy is significantly worse than expected, causing inflation to increase. In response, the Federal Reserve lowers rates. Increased geopolitical tensions heighten the risk that China might block the Taiwan strait, limiting the supply chain for semiconductors and raising fears of a broader conflict. Additionally, concerns grow that the Russian invasion of Ukraine lasts longer than in the baseline scenario and that the Middle East conflict will widen resulting in sustained increases in energy prices. The combination of tariffs, rising inflation, political tensions, still elevated interest rates, and reduced credit availability causes the economy to fall into a recession in mid-2026. Under this scenario, as an example, the unemployment rate increases significantly from baseline levels peaking in the second quarter of 2027 and GDP declines significantly. The unemployment rate in this adverse scenario is projected to peak at 8.5% in the second quarter of 2027. This is approximately 3.9% higher than the baseline scenario projections of 4.6% at the end of 2026 and 4.0% higher than the baseline projection of 4.5% at the end of 2027. In addition, GDP is significantly lower in the adverse scenario, with GDP turning negative for the remainder of 2026 before turning positive in 2027 but staying below 2%. To demonstrate the sensitivity to key economic parameters used in the calculation of our ACL at June 30, 2026, management calculated the difference between our quantitative ACL and this 100% adverse scenario. Excluding consideration of qualitative adjustments, this sensitivity analysis would result in a hypothetical increase in our ACL of approximately $1.3 billion at June 30, 2026. The resulting difference is not intended to represent an expected increase in allowance levels for a number of reasons including the following: •Management uses a weighted approach applied to multiple economic scenarios for its allowance estimation process; •The highly uncertain economic environment; •The difficulty in predicting the inter-relationships between the economic parameters used in the various economic scenarios; and •The sensitivity estimate does not account for any general reserve components and associated risk profile adjustments incorporated by management as part of its overall allowance framework. We regularly review our ACL for appropriateness by performing on-going evaluations of the loan and lease portfolio. In doing so, we consider factors such as the differing economic risks associated with each loan category, the financial condition of specific borrowers, the level of delinquent loans, the value of any collateral and, where applicable, the existence of any guarantees or other documented support. We also evaluate the impact of changes in key economic parameters and overall economic conditions on the ability of borrowers to meet their financial obligations when quantifying our exposure to credit losses and assessing the appropriateness of our ACL at each reporting date. Large loan exposures may be addressed through a portfolio heterogeneity reserve. We also consider how significant changes in underwriting policies and procedures could impact the ACL, including consideration of material changes in portfolio growth rates or credit terms. Any changes to management and staffing that could impact lending, collections, or other relevant departments that could increase risk within the allowance process are also contemplated. Observed changes in the quality of the credit review process identified by the second and third line reviews are also given appropriate consideration. 40 Huntington Bancshares Incorporated Table of Contents There is no certainty that our ACL will be appropriate over time to cover losses in our portfolio as economic and market conditions may ultimately differ from our reasonable and supportable forecast. Additionally, events adversely affecting specific customers, industries, or our markets such as geopolitical instability or risks of elevated interest rates for longer including a near-term recession, could severely impact our current expectations. If the credit quality of our customer base materially deteriorates or the risk profile of a market, industry, or group of customers changes materially, our net income and capital could be materially adversely affected which, in turn could have a material adverse effect on our financial condition and results of operations. The extent to which the geopolitical instability and risks of elevated interest rates will continue to negatively impact our businesses, financial condition, liquidity, and results will depend on future developments, which are highly uncertain and cannot be forecasted with precision at this time. For more information, see Note 5 - “Loans and Leases” and Note 6 - “Allowance For Credit Losses” of the Notes to Unaudited Consolidated Financial Statements. Acquisition Fair Value Measurements The acquisition method of accounting requires assets and liabilities in business combinations to be recorded at their estimated fair values as of the date of acquisition. To estimate fair value, we apply various valuation methodologies to assets acquired and liabilities assumed that often involve significant judgment. Examples of such estimates include loans and core deposit intangible assets, both of which we developed using an income approach. To value loans, management incorporated assumptions such as discount rates, prepayment speeds, expected credit losses, and recovery speeds based on recent origination and market data. The methodology used to value CDI assets considered the cost savings generated from the deposits relative to an alternative source of funds. Management incorporated assumptions in the CDI valuation such as customer attrition, discount rates, alternative cost of funding, and net maintenance costs. Changes in these assumptions could result in materially different fair value measurements that may impact the Company’s financial condition, results of operations, or disclosures. Discussion of the assumptions and estimates used by us to assess and determine fair values associated with business combinations can be found in Note 3 - “Business Combinations” of the Notes to Unaudited Consolidated Financial Statements. Goodwill Subsequent to the completion of our annual impairment test, as described in the Critical Accounting Policies and Use of Significant Estimates section within the MD&A of Huntington’s 2025 Annual Report on Form 10-K, we completed the acquisitions of Veritex and Cadence, which resulted in the recognition of additional goodwill of $450 million and $3.5 billion, respectively. Because this goodwill arose after our annual testing date, it was not included in the annual impairment analysis performed as of October 1, 2025. However, the additions of Veritex and Cadence did not change our conclusion with respect to goodwill impairment and no triggering event occurred through the end of the second quarter of 2026 that required a reassessment of goodwill. The goodwill recognized in connection with the acquisitions has been assigned to our reporting units based on our assessment of how the acquired business will be integrated and how its operations will be managed. For more information, see Note 8 - “Goodwill and Other Intangible Assets” of the Notes to the Unaudited Consolidated Financial Statements. Recent Accounting Pronouncements and Developments Note 2 - “Accounting Standards Update” of the Notes to Unaudited Consolidated Financial Statements discusses, if applicable, new accounting pronouncements adopted during 2026 and the expected impact of accounting pronouncements recently issued but not yet required to be adopted. To the extent the adoption of new accounting standards materially affects financial condition, results of operations, or liquidity, the impacts are discussed in the applicable section of this MD&A and the Notes to Unaudited Consolidated Financial Statements. 2026 2Q Form 10-Q 41 Table of Contents