Synovus Announces Pricing of $350 Million Senior Notes Offering

Synovus Financial Corp. (NYSE: SNV) today announced the pricing of its previously-announced underwritten public offering of $350 million of senior notes due 2025 (the “Notes”). The Notes will bear interest at a rate of 5.200% and will be issued at a price equal to 99.890% of their principal amount. The offering is expected to close on August 11, 2022, subject to customary closing conditions. Synovus intends to use the net proceeds from the offering for general corporate purposes, which may include the repayment of existing debt.

Morgan Stanley & Co. LLC and Goldman Sachs & Co. LLC are the joint book-running managers for the offering, and Citigroup Global Markets Inc., Wells Fargo Securities, LLC, Keefe, Bruyette & Woods, Inc. and Synovus Securities, Inc. are the co-managers for the offering.

Synovus is conducting the offering pursuant to an effective registration statement under the Securities Act of 1933, as amended. The offering is being made solely by means of a separate prospectus supplement and accompanying prospectus. This press release shall not constitute an offer to sell, or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. A copy of the final prospectus supplement and accompanying prospectus relating to the offering can be obtained by contacting Morgan Stanley & Co. LLC, Attn: Prospectus Department, 180 Varick Street, 2^nd Floor, New York, New York 10014, e-mail: prospectus@morganstanley.com or Goldman Sachs & Co. LLC, Attn: Prospectus Department, 200 West Street, New York, New York 10282, telephone: 1-866-471-2526 or e-mail: prospectus-ny@ny.email.gs.com. Potential investors should first read the applicable prospectus supplement and accompanying prospectus, the registration statement and the other documents that Synovus has filed with the Securities and Exchange Commission in connection with the offering. Investors may obtain these documents free of charge by visiting the SEC’s website at www.sec.gov.

Synovus Financial Corp.

Synovus Financial Corp. is a financial services company based in Columbus, Georgia, with approximately $57 billion in assets. Synovus provides commercial and retail banking and a full suite of specialized products and services, including private banking, treasury management, wealth management, mortgage services, premium finance, asset-based lending, structured lending, and international banking through branches in Georgia, Alabama, South Carolina, Florida, and Tennessee.

Forward-Looking Statements

This press release and certain of our other filings with the Securities and Exchange Commission contain statements that constitute “forward-looking statements” within the meaning of, and subject to the protections of, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact are forward-looking statements. You can identify these forward-looking statements through Synovus’ use of words such as “believes,” “anticipates,” “expects,” “may,” “will,” “assumes,” “should,” “predicts,” “could,” “would,” “intends,” “targets,” “estimates,” “projects,” “plans,” “potential” and other similar words and expressions of the future or otherwise regarding the outlook for Synovus’ future business and financial performance and/or the performance of the banking industry and economy in general. These forward-looking statements include, among others, our expectations regarding our future operating and financial performance; expectations on our growth strategy, expense and revenue initiatives, capital management, balance sheet management, and future profitability; expectations on credit quality and performance; and the assumptions underlying our expectations. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve known and unknown risks and uncertainties which may cause the actual results, performance or achievements of Synovus to be materially different from the future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are based on the information known to, and current beliefs and expectations of, Synovus’ management and are subject to significant risks and uncertainties. Actual results may differ materially from those contemplated by such forward-looking statements. A number of factors could cause actual results to differ materially from those contemplated by the forward-looking statements in this press release. Many of these factors are beyond Synovus’ ability to control or predict.

These forward-looking statements are based upon information presently known to Synovus’ management and are inherently subjective, uncertain and subject to change due to any number of risks and uncertainties, including, without limitation, the risks and other factors set forth in Synovus’ filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 31, 2021, under the captions “Cautionary Notice Regarding Forward-Looking Statements” and “Risk Factors” and in Synovus’ quarterly reports on Form 10-Q and current reports on Form 8-K. We believe these forward-looking statements are reasonable; however, undue reliance should not be placed on any forward-looking statements, which are based on current expectations and speak only as of the date that they are made. We do not assume any obligation to update any forward-looking statements as a result of new information, future developments or otherwise, except as otherwise may be required by law.

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