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• The Bank of America for the Southeastern U.S.
• A full-service regional bank, similar to a localized Wells Fargo, operating across the Southeast.

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• Commercial Banking: Provides a range of banking services to businesses, including commercial loans, lines of credit, and treasury management solutions.
• Consumer Banking: Offers personal banking products such as checking accounts, savings accounts, money market accounts, and various types of consumer loans.
• Wealth Management: Delivers investment management, trust services, and financial planning to individuals and families.
• Mortgage Banking: Specializes in the origination, sale, and servicing of residential mortgage loans.

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Renasant (symbol: RNST) is a financial services company operating through its subsidiary, Renasant Bank. As a regional bank, its customer base is highly diversified and consists of a large number of individuals and businesses rather than a few major corporate customers in the traditional sense. Therefore, the company primarily sells its services to a broad range of individuals and businesses, which can be categorized as follows:

• Individuals/Consumers: This category includes customers who utilize personal banking services such as checking and savings accounts, consumer loans (e.g., auto loans, personal loans), and residential mortgage loans.
• Businesses/Commercial Clients: This category encompasses a wide range of businesses, from small businesses to larger corporations. They use Renasant's services for commercial loans, lines of credit, treasury management, and business checking and savings accounts.
• Wealth Management Clients: This segment serves individuals, families, and businesses seeking specialized financial services including investment management, trust services, and financial planning.

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Kevin D. Chapman, President and Chief Executive Officer

Mr. Chapman assumed the role of Chief Executive Officer in May 2025 and has been President since May 2023. He previously served as Chief Operating Officer from May 2018 to May 2025. Prior to that, he was Executive Vice President and a Senior Executive Vice President of Renasant Bank from January 2011, and the Bank's Chief Financial Officer from October 2011 until August 2020. Mr. Chapman also held the position of Corporate Controller from May 2006 until October 2011. He has over 25 years of experience in the financial services sector and is a licensed CPA.

James C. Mabry IV, Executive Vice President and Chief Financial Officer

Mr. Mabry joined Renasant as Executive Vice President and Chief Financial Officer in August 2020. He is also responsible for the company's mergers and acquisition activities and investor relations. With more than 35 years of experience in the financial services industry, Mr. Mabry previously served as Executive Vice President of Investor Relations and Mergers/Acquisitions for South State Corporation, a position he held from August 2015. Before that, he was a managing director at Keefe, Bruyette and Woods, a Stifel Company, where he led mergers and acquisitions, strategic advisory, and capital markets services for banking companies. He began his career with Keefe, Bruyette and Woods in New York in 1983.

C. Mitchell Waycaster, Executive Vice Chairman

Mr. Waycaster has served as Executive Vice Chairman since May 2023. He was the Chief Executive Officer from May 2018 to May 2025 and President of Renasant Corporation and Renasant Bank from January 2016 to May 2023. His extensive career at Renasant, which began in 1979, includes roles such as Chief Operating Officer (January 2016 to May 2018), Chief Administrative Officer (April 2007 to January 2016), President of the Mississippi Division (January 2005 to April 2007), and Director of Retail Banking (2000 to December 2004). He has over 37 years of professional banking experience. Mr. Waycaster is also a board member at the Federal Reserve Bank of St. Louis.

E. Robinson McGraw, Chairman of the Board

Mr. McGraw maintains his role as Director and Chairman of the Board for Renasant Corporation and Renasant Bank. He previously served as Chairman and Chief Executive Officer.

Mark Jeanfreau, Executive Vice President; General Counsel of Company and Bank, Senior Executive Vice President and Chief Governance Officer of Bank

Mr. Jeanfreau serves as Executive Vice President, General Counsel of Company and Bank, and Senior Executive Vice President and Chief Governance Officer of Bank.

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The key risks to Renasant (RNST) business are:

1. Concentration in Commercial Real Estate (CRE) and Lending Risk: Renasant's loan portfolio is significantly concentrated in commercial real estate, which increases its exposure to regional economic downturns and CRE-specific risks. The company's criticized loan ratio has also seen an increase. As a financial institution, Renasant is inherently exposed to lending risks, which encompass the impact of changes in interest rates and economic conditions within its operational markets.

2. Integration Risks from Mergers and Acquisitions: The recent merger with The First Bancshares presents considerable integration risks. There is a potential that the anticipated profits from the merger may not materialize due to integration costs, and operational or cultural disparities between the two entities could lead to conflicts. Delays in the successful integration of acquired businesses could also challenge growth projections. The company's ability to efficiently integrate acquisitions, retain customers, and realize expected cost savings within projected timeframes remains a key risk factor.

3. Slow Profit Growth and Declining Tangible Book Value Per Share (TBVPS): Renasant faces challenges with slow earnings growth and disappointing long-term revenue growth. Its net interest income growth has underperformed compared to the broader banking industry. Furthermore, projections indicate a shrinking tangible book value per share, contributing to overall valuation concerns and uncertainty.

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Renasant (symbol: RNST) operates in several key financial service markets primarily within the United States. The addressable market sizes for their main products and services are as follows:

• Retail Banking: Renasant offers a range of banking and financial services to individuals and small to medium-sized businesses, including checking and savings accounts, and various loans. The United States retail banking market is valued at approximately USD 0.87 trillion (USD 870 billion) in 2025 and is projected to reach USD 1.08 trillion by 2030. Separately, the U.S. community banking market was valued at USD 6.35 billion in 2024, with expectations to grow at a CAGR of 3.8%. Some estimates place the community banking market as high as $19.39 billion in 2025. Renasant's "Community Banks" segment caters to these services.
• Mortgage Lending: Renasant provides personal, auto, mortgage, and home equity lending services. The US home loan market is substantial, reaching USD 2.29 trillion in 2025 and forecasted to grow to USD 3.02 trillion by 2030. The broader mortgage lender market size in the US is projected to be around $1.29 trillion in 2025.
• Wealth Management: Renasant offers investment services, retirement planning, wealth management, and financial planning. The North American wealth management market accounted for $937.45 billion in 2023. The global wealth management market was approximately USD 1636.83 billion in 2024 and is predicted to grow to around USD 4893.17 billion by 2034, with North America contributing a significant share.
• Insurance: Renasant's Insurance segment provides all lines of commercial and personal insurance. The overall U.S. insurance market was valued at USD 1.48 trillion in 2023 and is predicted to reach USD 2.39 trillion by 2030. More specifically, the Property, Casualty and Direct Insurance market in the US was $1.0 trillion in 2024 and is expected to be $1.0 trillion in 2025. US-domiciled property and casualty insurers exceeded $1 trillion in annual direct premiums written in 2024. The United States life insurance market reached approximately USD 1.46 trillion in 2024.
• Commercial Banking: Renasant offers treasury management, corporate banking, asset-based lending, and factoring services. The Commercial Banking market in the US was estimated at $1.5 trillion in 2024 and is projected to reach $1.6 trillion in 2025.

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Renasant Corporation (RNST) is expected to drive future revenue growth over the next 2-3 years through several key initiatives and market dynamics:

1. Integration and Synergies from The First Bancshares Merger: The acquisition of The First Bancshares is a significant driver, enhancing Renasant's market presence and providing a platform for expanded revenue through additional product lines and services in areas such as treasury management, mortgage, and capital markets. Full integration and system conversion were ongoing in 2025, with anticipated synergies and completion expected by the first quarter of 2026. This merger has already contributed to balance sheet growth and net interest margin expansion.
2. Consistent Loan Growth: Renasant has demonstrated strong loan growth, with a 7% annualized increase in loans in Q2 2025 and a 9.9% annualized growth in Q3 2025. Management anticipates mid-single-digit loan growth, which is expected to be broad-based and supported by new lending capabilities unlocked by the merger.
3. Net Interest Margin (NIM) Improvement: The company has experienced expansion in its core net interest margin. In Q2 2025, the core NIM expanded from 3.42% to 3.58%, and the reported NIM rose from 3.45% to 3.85%, partly due to purchase accounting adjustments. Although some short-term contraction was guided for the subsequent quarter due to expected Federal Reserve rate cuts, management anticipates gradual improvement in the net interest margin over time.
4. Growth in Noninterest Income: Noninterest income is expected to increase, particularly driven by the mortgage division. This segment experienced a rebound and is projected to benefit from demographic trends and market expansion post-integration of the merger. The merger also provides opportunities to expand other fee-based services.
5. Operational Efficiency and Cost Synergies: While primarily impacting expenses, the realization of efficiency savings and cost synergies from the merger with The First Bancshares will contribute to improved profitability. These savings can free up capital for reinvestment into revenue-generating activities and support sustainable long-term growth by enhancing the company's overall financial health and competitive position.

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Share Repurchases

• Renasant Corporation's Board of Directors approved a new $150.0 million stock repurchase program, effective October 28, 2025, which replaced a previous $100.0 million authorization.
• The prior $100.0 million stock repurchase program was in effect through October 2025.
• There was no buyback activity reported during the first and second quarters of 2025.

Share Issuance

• In July 2024, Renasant announced an all-stock merger agreement to acquire The First Bancshares, Inc., valued at approximately $1.2 billion.
• Renasant expected to issue approximately 31,782,668 shares of its common stock in connection with the merger with The First Bancshares, Inc.
• Analysts anticipate Renasant's shares outstanding to increase by an average of 7.0% annually over the next three years.

Outbound Investments

• Renasant Corporation entered into a definitive agreement in July 2024 to acquire The First Bancshares, Inc., in an all-stock transaction worth about $1.2 billion.
• The merger with The First led to a decrease in book value per share and tangible book value per share in the second quarter of 2025.
• The acquisition contributed to a significant increase in securities and organic loan growth for Renasant in the second quarter of 2025.