PGA TOUR MEDIA CONFERENCE

August 6, 2024

Bill Rogers

Johnny Harris

Jay Monahan

Truist Announcement

DONTÁ WILSON: Good morning. I'm Dontá Wilson, the chief consumer small business banking officer here at Truist, and I'm here to welcome you. It's a privilege to have you in our innovation and tech center here in Charlotte, North Carolina.

Before we get started I do want to recognize a couple of distinguished guests. We have members of our Charlotte City Council that are in the house today. Thank you all for being here today.

We have our phenomenal teammates that are also here today, Truist teammates. Want to thank you for being here today.

This is a special moment, not just a special moment for Truist, but a special moment for what this means for our community mand it really aligns with our purpose. Our purpose is to inspire and build better lives and communities. Today's announcement is right down the center fairway of doing just that.

Without further ado, please let me recognize and bring to the stage our chairman and CEO, Bill Rogers.

BILL ROGERS: Thanks, Dontá. Great leadership. Thank you all for joining us here today. It's a great day for Truist, and it's a great day for Charlotte. Just let's start with that.

I want to recognize my friends backstage who are coming upstage in a minute, Jay Monahan and Johnny Harris and Johno for just their incredible leadership. I can't imagine having better partners as we undertake this endeavor.

In life and sport, there are a lot of wins that can be celebrated, and sometimes you just get to do something transformational, and today we get to do both, which is a great day.

As you walked in, some of you have been in here before. It's a little greener than this innovation center and there's a lot of intentionality around that, a lot of purpose around that, because today I'm so excited to announce that Truist has signed a seven-year agreement to be the title sponsor of the PGA TOUR's Signature Event right here in Charlotte called the Truist Championship.

[Applause.]

As many of you know, I've been waiting to say that for several months now, and it's nice to just finally get it out and make it official.

This is so exciting for so many important reasons. Securing and keeping this event here in Charlotte, here in the Queen City, we can celebrate Truist, the Quail Hollow Club, celebrate Charlotte, the state of North Carolina and the whole region, and it is a true collaboration, a true collaboration to create deeper lasting relationships and long-term impact on this community. That's just so, so key.

The sponsorship aligns with our purpose. Dontá talked about our purpose, to inspire and build better lives and communities, and to steal a phrase, this is right down the middle of the fairway of our purpose. It's exactly aligned with what we want to do and the impact we want to have on this great city.

We're going to be thoughtful about everything related to this event, and the great news is we get to build on this longstanding tradition as one of the best tournaments in the world already.

We talked about earlier, this is something great we want to make greater. So we've got this incredible foundation to build on. Many of you here in this room have been part of building that incredible foundation.

We want the tournament to be accessible, inclusive and welcoming, as we invite members, the city, corporate leaders, teammates, tournament vendors, volunteers, fans and the players all to feel this shared connection, this shared connection and this incredible sense of ownership together, that we own all this together in terms of its outcome.

This will also create a national identity for Truist. That's actually quite important to us and our brand. But it's also the investment. It's the investment in the vitality of our local economy and the organizations that provide this incredible support to our community.

Since Charlotte became the host of the PGA TOUR more than 20 years ago, the tournament provides an estimated annual impact of about $75 million, and more importantly has raised more than $30 million for charitable organizations. So think about that in terms of impact.

We are going to be a highly engaged hometown sponsor. We plan to develop an inclusive community advisory committee, a dynamic local business, civic, government, philanthropy leaders to help us maximize the sponsorship, help us understand what is the real benefit and how do we maximize this together. Again, that sense of shared ownership together.

The committee is going to help grow this event and ensure it's ultimately connected to Charlotte.

What we want to happen after seven years is for people to look back and say this made a difference. This made a difference in this region, and Truist was part of that leadership.

We're excited about new opportunities, so an opportunity like Truist Tuesday, so teammates, buckle in. Truist Tuesday is going to be for you and cardholders and clients of our company. So benefits to everybody. Making sure that it's inclusive.

Most of you know in 2025 Charlotte is going to host the PGA Championship at Quail Hollow. If you're going to be interrupted in your first year, being interrupted by the PGA Championship is a pretty good way to accept that interruption.

So we have all worked together, the TOUR and everybody has worked together to select the iconic Philadelphia Cricket Club to honor our inaugural event. We're happy to have Tom Sheridan, president of the Philadelphia Cricket Club here with us today.

[Applause.]

Philadelphia is an incredibly important market to Truist, as well, so this has a perfect connection. It's a vibrant community, and Tom, I think you'll agree it's a sports town. There's just no doubt about that. A sports town probably dying for some golf.

So I think we've got this perfect combination of bringing golf to Philadelphia when we start this in our inaugural year.

This is an investment that we think will change lives. That's how we're going to approach this. We look forward to building on, as I said, this incredible legacy. Johnny, the Harris family, the great Quail Hollow Club have established Jay and the PGA TOUR, they brought the best golfers in the world to Charlotte. We look forward to making this, as I said, a great event even greater.

Before I share a video which demonstrates this event, I want to talk about this logo. How cool is that, by the way? There are a lot of elements, and the intentionality of being purposeful, first of all, it's got the crown for Charlotte. What an incredible vision and the fact that the city was shared this incredible logo with us. In the center is the heart. It's the heart for caring. And of course the golf ball sets on top of the T for Truist.

I'll tell you when we designed the Truist name and the Truist logo, we didn't envision it to have a golf ball on top of it, but I think it looks pretty darned good myself. So we're very, very excited about that and very excited about bringing that to life.

I can't wait to wear a golf shirt with that logo sitting on top of it. This will be an exciting moment for our teammates.

Just as it was exciting to, after months, being able to announce the Truist Championship, what was more exciting is to see this video and hear Jim Nantz say "Truist Championship." Let's roll this video.

[Video shown.]

JOHNSON WAGNER: Thank you all for being here today. What a wonderful announcement in Truist partnering with the Quail Hollow Club and PGA TOUR. This is an exciting day for Charlotte. Bill shared with us the why for Truist. This is why it's going to be a purpose-driven investment, and I'm going to start with the obvious question for you, Jay. Why Truist, and what makes this company so special to partner with the TOUR's Charlotte area Signature Event?

JAY MONAHAN: Well, thank you, Johnson. Thank you, Bill. Thank you, Johnny, and thanks to everybody here today. This is a day that we come to Charlotte with gratitude, pride and joy. To be able to announce this partnership, to have this extraordinary seven-year commitment from Truist, and to have seen what Truist has done since headquartering here going back to 2019, see their commitment to this community, see their commitment to communities, as Bill said, I think the purpose-driven nature of Truist, the impact that they're looking to have in their home city, the sense of collaboration, the value alignment, so much of the way that they think about their business is the way that we think about ours.

As you know, the PGA TOUR, all of our tournaments, are operated to the benefit of communities and charities. Since inception the PGA TOUR has generated $3.93 billion for charity. This event has generated over $30 million since inception. And as importantly, this has become part of the fabric of one of America's great cities.

The buzz that you feel here early in the week takes its way all the way through that 18th hole. This is a dramatic championship, never done until it's done, at one of the greatest golf courses in America, Quail Hollow Club.

I think that when you get to a moment like this it's important to step back before all the great work happens - and there's going to be a lot of great work and great results - but I just want to express my gratitude to Bill Rogers, to everybody at Truist, and to Johnny for our longstanding partnership.

I look forward to, and our entire team looks forward to, bringing all this to life in really meaningful and impactful ways.

JOHNSON WAGNER: Johnny, the tournament at Quail Hollow here in Charlotte has been one of the finest on the PGA TOUR since its inception in 2003. How thrilled are you as president of Quail Hollow to have such a wonderful local business stepping up and putting in the time and the resources into another stalwart in the community in the Quail Hollow Club?

JOHNNY HARRIS: Well, I think two things. On behalf of the club, our members and our board, we're tickled to death. We couldn't be happier with the way the partnership has developed. If you look at the fact that you bring Truist together with the PGA TOUR and then Quail Hollow and add CBS, we've got a situation where we can take a great tournament and really make it the greatest.

That's what our goal and our objective is. We want to continue to keep bringing the best players in the world back to Charlotte, and with the designated tournament we have that tournament.

Lastly, we've watched over the years the golf tournament go from being a Quail Hollow tournament to being kind of a Charlotte tournament to being a North Carolina tournament to being a regional tournament and being a world tournament. That's the way I look at Truist.

When you think back that first day when Bill Rogers moved to Charlotte and they announced they were coming and it was a time when everybody else who was relocating was asking for money, and all he was looking for was an opportunity to do the job, take care of the community and take care of the people, and I called him on the phone, and I said to him, Bill, I don't care whether you do any business with us at all from a real estate standpoint, but if we can do anything to make your move work better, please call us and ask us.

I never dreamed I was going to end up with a T in his logo, but that's okay.

JOHNSON WAGNER: It's a great logo; also captures the essence of the Queen City.

Bill, you and Jay both have spoken about the impact that a championship like this has on the local community; over $30 million over 21 years of the championship here in Charlotte. Bill, for you, what sort of a unique opportunity is this for you to take Truist to give back to your local community on such a large scale?

BILL ROGERS: You know, it is an incredible opportunity. Literally the first call I got when we announced the merger was from Johnny Harris and said, what can we do? I think he actually knew this day was coming. So when he said he didn't know, he may have known this day was coming, and we were all part of the master plan on where we are.

But the point was, how can I help. That was the question. Literally back stage, first thing, how do we make this great? How can we help? Jay said those are the kind of partnerships that we want and the potential for impact that we can have on this community. We want to have an impact that's focused on career pathways to economic mobility and small business and ways to make Charlotte great and greater.

The meetings we've already had, everybody tossing ideas back and forth it's always why don't we do this, why don't we make it greater. As I said in my opening comments we want to look back in seven years when we're renewing this for another seven, Johnny and Johno, but we want to look back and say, did we make a difference?

The report card will come from the community. It won't come from anybody else. The report card will come from the community, did we make a difference. That's the standard we're going to set for ourselves and the standard we're going to hold ourselves accountable to.

JOHNSON WAGNER: Jay, I know having a partner sign on for a Signature Event for this long-term of a contract is a big deal, and with so much momentum in 2024 and having this partnership with Truist in 2025, what can we expect to see next year on the PGA TOUR?

JAY MONAHAN: Well, I think you step back and you look at this year, and we're just coming off of the men's Olympic competition for the game of golf, which was pretty dramatic on Sunday; you see Scottie Scheffler has won six times this year plus an Olympic gold medal; Xander Schauffele winning two major championships; Rory winning twice, including in dramatic fashion here at the Quail Hollow Club; Nick Dunlap, a rookie, who's won twice.

The talent that continues to emerge, the storylines that continue to emerge I think have been tremendous.

We're heading into our FedExCup Playoffs, but this event is a Signature Event, and our players love Quail Hollow Club. They're going to love the energy that Truist brings to this event, the importance to the entire company and their commitment to, as Johnny said, this entire region and the world in showcasing the best players.

I think what people can expect to see is that competitive strength, that competitive drama, that competitive friction that the PGA TOUR presents every week, the difficulty of qualifying into this championship.

I think you're going to continue to see those storylines, more talent, continued growth on the PGA TOUR from a talent standpoint, but you're also going to see an organization that has always been so committed to communities and so committed to charity be able to deliver on that with Truist as a partner.

And as Bill mentioned earlier in his comments, Quail Hollow Club is going to host the 2025 PGA Championship, their second PGA Championship. They also hosted our Presidents Cup. We partnered with them on that with great success.

So for 2025, as Bill said, what the world of golf can expect to see with the Truist Championship is May 5 to 11 we'll be at Philadelphia Cricket Club, a great Tillinghast design going back to 1922.

It'll be a great test for our players, and being able to play it for the first time on the PGA TOUR is something that I know they're going to be very excited to know is official because the immediate reaction from them has been very positive.

But this is -- '25 will be an important year, and as we get back here to Charlotte in '26, the benefit of that time, both in Philadelphia and getting back to the Quail Hollow Club, will be entirely present for all the fans that support this great championship.

JOHNSON WAGNER: Bill, it's another unique situation, first year of a long-term partnership, being thrown somewhat of a slight detour going to Philly. I'm happy to say that I've gotten an invite to go play Philly Cricket. I'll be taking you up on that.

BILL ROGERS: Is that why you're here?

JOHNSON WAGNER: It is, it is.

Bill, you mentioned in your opening remarks that Philly is an important area for Truist, so when we look forward to next year, what can fans expect out of the Truist Championship at Philly Cricket club?

BILL ROGERS: Yeah, I think it's the same thing. We're going to run the same play in Philadelphia that we'll run in Charlotte and just make it something that Philadelphia will look back and say, boy, that really had a significant impact.

We've got a great team. We have 1000 teammates in Philadelphia. By the way, you could hear the roar I'm sure from this announcement for them.

So they'll be engaged. We've got great leadership there. We're engaging with the community there to find out what are the most important things for us to be involved in, where can we have the largest impact. We're going to run the exact same play.

In little ways, if you're going to have a detour for the PGA Championship, that's a pretty good detour. I don't consider it to be a detour; I consider it to be a path. This is the first stop along a really important path, and we're really excited to be in Philadelphia and really excited to be at the Cricket Club.

JOHNSON WAGNER: I know it's a market that has been starved for championship golf for a long time. BMW has been at Aronimink recently in the last eight years, and I played at Aronimink in Tiger's event back in 2010 and 2011. The fan support -- and I don't particularly care for Philadelphia Eagle fans. I think my brother is here somewhere. He probably knows what I'm talking about --

BILL ROGERS: Friendly fire. We love them all, just to be clear. (Laughter.)

JOHNSON WAGNER: We've talked about the positive impacts this partnership will create for the long haul with the commitment to host the Truist Championship for seven years.

Bill, that's got to send a powerful message to everybody that you're involved with, your clients, your constituents. I guess just closing, if y'all have anything else to add, what this partnership, Johnny, for you is going to do for Quail Hollow. Jay, for you for the PGA TOUR. And finally to you, Bill, for Truist. Just any final thoughts about what the magnitude of this means.

JOHNNY HARRIS: I guess as I sit here today, as I think back on that night when Arnold Palmer came to Charlotte and just with 25 men who decided to build Quail Hollow and they were doing it for a number of different reasons.

First of all, the camaraderie of being with friends to be part of the game that they all loved, be part of building something in this community that long-term could stay here, be here and have a positive impact on this community.

It was never overlooked that if we did our job, and as Arnold said, you build the right kind of golf course, we can get the people here, the greatest players in the world, to come here.

So when I look at this today, I think about who the winners are. The winners certainly are Truist, certainly the PGA, certainly Quail Hollow, but certainly the city of Charlotte, the Carolinas, the whole region. But most importantly -- and the world of golf.

But here's the thing: They started the club because of their love for the game, and all this is a perfect extension of love for the game. That's why I'm so excited about it.

JOHNSON WAGNER: It's always to special to hear you talk about it, Johnny. Thank you. For you, Jay, this is the beginning of a new era with the Signature Events on the PGA TOUR, having your first new sponsor in Truist signing a long-term deal. As you project forward with this model of the PGA TOUR, which is the impact of this contract and agreement?

JAY MONAHAN: Well, feeding off of Johnny's comments, I think back to 2003 when Quail Hollow Club invited the PGA TOUR to Charlotte, North Carolina, and the success that we've had with the Harrises and with the club.

I talked about the ethos of the PGA TOUR. I think for us to be able to be here with the great people at Truist and to make this announcement -- the thing that people don't realize and that I'm most excited about with this partnership is the tournament is four days, and they're four great competitive days.

There's a lot of time and there's a lot of tournaments that feed into whether or not you qualify to play in this event. But the Truist Championship is a living, breathing part of the Charlotte community and the region 52 weeks of the year. There's a lot going on in the world, and the world needs more organizations, more partnerships that are driving real impact.

What this means for the PGA TOUR and that commitment is that we're able to, together, plan for seven years, continue to be a hugely important part of this community, and ultimately every single Sunday night in early May when the Truist Championship is completed, people are going to see this partnership on full display, and they're going to see the best players competing in a championship that every single one of them wants to win.

It's an extension of a history here that is something that everybody at the PGA TOUR is really proud of and grateful to Bill and the team at Truist for making this happen.

JOHNSON WAGNER: Bill, it's striking to hear you speak today talking about teammates, the way you refer to all the coworkers at Truist. It seems the culture is very strong. I've heard a couple teammates here talk about we're a fun bank.

What does it mean to you to have new teammates like Quail Hollow Club and Johnny Harris and Jay Monahan and the PGA TOUR?

BILL ROGERS: I think they define what the word "teammate" means. We use the word "teammate" intentionally because we want to be part of a team, but we also want to have something that's a shared purpose. So we're part of a team trying to achieve an objective together.

You can hear from Johnny and Jay that's the same shared purpose.

The value for us of this partnership, sponsoring a golf tournament is interesting. Having a great shared partnership for a purposeful outcome is what energizes us.

You can hear from those incredible gentlemen, their leadership. That's the true meaning of what teammate means and the true meaning of partnership. This dialogue with us always started from the point of purpose, always started with a purposeful objective. Everything else was the stuff that we wanted to make sure we accomplished.

I'm proud. We also believe in long-term relationships. We want to have a really long-term relationships with our clients. We want to have long-term relationships with our communities. We want to have long-term relationships with our teammates, and this is emblematic of that, as well. That it's a long-term relationship that we're all committed to, to making a difference.

JOHNSON WAGNER: That's really well said, Bill. There's a couple leaders that couldn't be here. Our mayor, Vi Lyles and North Carolina governor Roy Cooper, but they sent along messages that we'll watch now.

[Video shown.]

It's been a very special day and us backstage didn't really get to see the announcement video. I think we should take one more look and make sure everybody leaves here excited.

[Video shown.]

It doesn't get a whole lot better than that. Bill, thank you so much for hosting. Commissioner Monahan, it always means a lot when you're around. Mr. Harris, Johnny, I'm a big fan. Thank you guys. Most importantly thanks to the guests for showing up for this very special announcement.