Pinnacle Financial Partners, Inc. (Nasdaq/NGS: PNFP) (“Pinnacle Financial”) today announced that it has priced the issuance of $300 million aggregate principal amount of 4.125% Fixed-to-Floating Rate Subordinated Notes due 2029 (the “Notes”). Commencing September 15, 2024, the Notes will bear interest at a floating rate equal to the then-current three-month LIBOR plus 277.5 basis points for each quarterly interest period (subject to certain provisions set forth under “Description of the Notes—Interest” and “Description of the Notes—Effect of Benchmark Transition Event” in the preliminary prospectus supplement, filed with the U.S. Securities and Exchange Commission (the “SEC”) on September 6, 2019), payable quarterly in arrears each year. Pinnacle Financial expects to use approximately $218.8 million of the net proceeds from the sale of the Notes to redeem certain of its and Pinnacle Bank’s subordinated notes, including approximately $88.8 million aggregate principal amount, as of June 30, 2019, of outstanding subordinated notes issued by it (or bank holding companies that have been merged with and into it) following the closing of this offering.

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