Form 8-K - Current report

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

July 18, 2023

Date of Report (date of earliest event reported)

Fulton Financial Corporation

(Exact name of registrant as specified in its charter)

Pennsylvania

001-39680

23-2195389

(State or other jurisdiction of incorporation)

(Commission File Number)

(I.R.S. Employer Identification No.)

One Penn Square,

P.O. Box 4887

Lancaster,

Pennsylvania

17604

(Address of Principal Executive Offices)

(Zip Code)

(717) 291-2411

(Registrant's telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:


Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common stock, par value $2.50	FULT	The Nasdaq Stock Market, LLC
Depositary Shares, Each Representing 1/40th Interest in a Share of Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A	FULTP	The Nasdaq Stock Market, LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

Item 2.02 Results of Operations and Financial Condition.

On July 18, 2023, Fulton Financial Corporation (the "Corporation") issued a press release (the "Press Release") announcing its results of operations for the second quarter ended June 30, 2023. A copy of the Press Release and supplementary financial information which accompanied the Press Release are attached as Exhibit 99.1 to this Current Report on Form 8-K (this "Current Report") and are incorporated herein by reference. The Corporation also posted on its Investor Relations website, www.fultonbank.com, presentation materials the Corporation intends to use during a conference call and webcast to discuss those results on Wednesday, July 19, 2023 at 10:00 a.m. eastern time. A copy of the presentation materials is attached as Exhibit 99.2 to this Current Report and is incorporated herein by reference.

The information included in Exhibit 99.1 shall be deemed filed for purposes of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and therefore may be incorporated by reference in filings under the Securities Act of 1933, as amended (the "Securities Act"). The information included in Exhibit 99.2 is being furnished and shall not be deemed filed for purposes of the Exchange Act or be incorporated by reference in any filing under the Securities Act.

Forward-Looking Statements

This Current Report, including Exhibits 99.1 and 99.2 may contain forward-looking statements with respect to the Corporation's financial condition, results of operations and business. Do not unduly rely on forward-looking statements. Forward-looking statements can be identified by the use of words such as "may," "should," "will," "could," "estimates," "predicts," "potential," "continue," "anticipates," "believes," "plans," "expects," "future," "intends," "projects," the negative of these terms and other comparable terminology. These forward-looking statements may include projections of, or guidance on, the Corporation's future financial performance, expected levels of future expenses, including future credit losses, anticipated growth strategies, descriptions of new business initiatives and anticipated trends in the Corporation's business or financial results. Management’s "2023 Outlook" contained in Exhibit 99.2 to this Current Report is comprised of forward-looking statements.

Forward-looking statements are neither historical facts nor assurance of future performance. Instead, the statements are based on current beliefs, expectations and assumptions regarding the future of the Corporation's business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of the Corporation's control, and actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not unduly rely on any of these forward-looking statements. Any forward-looking statement is based only on information currently available and speaks only as of the date when made. The Corporation undertakes no obligation, other than as required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

A discussion of certain risks and uncertainties affecting the Corporation, and some of the factors that could cause the Corporation's actual results to differ materially from those described in the forward-looking statements, can be found in the sections entitled "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in the Corporation's Annual Report on Form 10-K for the year ended December 31, 2022, Quarterly Report on Form 10-Q for the quarter ended March 31, 2023 and other current and periodic reports, which have been, or will be, filed with the Securities and Exchange Commission (the "SEC") and are, or will be, available in the Investor Relations section of the Corporation's website (www.fultonbank.com) and on the SEC's website (www.sec.gov).

Item 5.05 Amendments to the Registrant's Code of Ethics, or Waiver of a Provision of the Code of Ethics.

On July 18, 2023, the Corporation's Board of Directors (the "Board") approved a Code of Conduct (the "Code"). The Code supersedes the Corporation's Code of Conduct previously adopted by the Board (the "Prior Code").

The Code applies to all employees and directors of the Corporation and each of its subsidiary and affiliate entities and reflects the Corporation's commitment to the highest professional and ethical standards in all of the Corporation's business activities.

The Prior Code included a fixed dollar limit on the value of gifts that could be given or received. The Code now permits the giving or acceptance of gifts that are of reasonable value. The Code also includes other non-substantive revisions. The adoption of the Code did not relate to, or result in, any waiver of any provision of the Prior Code.

This summary of the amendments to the Prior Code is qualified in its entirety by reference to the full text of the Code, a copy of which is attached to this Current Report as Exhibit 14.1 and is incorporated herein by reference. A copy of the Code will be published in the Investor Relations section of the Corporation's website, www.fultonbank.com.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.


Exhibit No.			Description
14.1			Fulton Financial Corporation Code of Conduct.
99.1			Press release dated July 18, 2023 containing financial information for the quarter ended June 30, 2023, deemed filed under the Securities Exchange Act of 1934.
99.2			Presentation materials to be discussed during the conference call and webcast on July 19, 2023, deemed furnished under the Securities Exchange Act of 1934.
104			Cover page Interactive Data File (the cover page XBRL tags are embedded within the Inline XBRL document)

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


Date: July 18, 2023			FULTON FINANCIAL CORPORATION
			By: /s/ Mark R. McCollom
			Mark R. McCollom
			Senior Executive Vice President and
			Chief Financial Officer

FULTON FINANCIAL CORPORATION CODE OF CONDUCT

TABLE OF CONTENTS 98148.2 1 © 2023 Fulton Financial Corporation A MESSAGE FROM CURT MYERS ........................................................................................................................... 3 OUR PURPOSE ............................................................................................................................................................ 4 OUR VALUES AND GUIDING BEHAVIORS .............................................................................................................. 4 INTRODUCTION TO FULTON’S CODE OF CONDUCT: WE DO WHAT IS RIGHT ................................................ 5 WHO CAN I ASK? ........................................................................................................................................................ 5 PART 1 .....................................................................................................................................................................6 WE DO WHAT IS RIGHT: WE CONDUCT OURSELVES AND OUR BUSINESS WITH HONESTY, INTEGRITY AND ACCOUNTABILITY AND WE COMPLY WITH ALL LAWS AND REGULATIONS .........................................6 (A) MAINTAINING FINANCIAL ACCOUNTABILITY AND INTERNAL CONTROLS .....................................................................6 (B) BEING TRUTHFUL AND TRANSPARENT WITH REGULATORS .........................................................................................6 (C) GUARDING THE INTEGRITY OF ACCOUNTING AND FINANCIAL INFORMATION ...........................................................6 (D) LENDING WITHIN AUTHORIZATION LIMITS .......................................................................................................................6 (E) PROVIDING ADVICE TO CUSTOMERS ...............................................................................................................................6 (F) PREVENTING MONEY LAUNDERING AND TRANSACTION STRUCTURING ...................................................................6 (G) MAINTAINING HONEST, ACCURATE AND COMPLETE RECORDS .................................................................................7 (H) COMPLYING WITH ANTITRUST LAWS AND DEALING FAIRLY WITH OTHERS ...............................................................7 (I) COMPLYING WITH THE FOREIGN CORRUPT PRACTICES ACT AND THE BANK BRIBERY LAW ...................................7 (J) PROMOTING RESPONSIBLE CUSTOMER-CENTERED SALES PRACTICES ...................................................................8 (K) USING SOCIAL MEDIA FOR BUSINESS RELATED PURPOSES IN A RESPONSIBLE AND COMPLIANT MANNER ........8 PART 2 ........................................................................................................................................................................... 9 WE DO WHAT IS RIGHT: WE SAFEGUARD INFORMATION AND PROPERTY ENTRUSTED TO US ...............9 (A) PROTECTING OUR CUSTOMERS’ INFORMATION ............................................................................................................9 (B) SAFEGUARDING FULTON’S CONFIDENTIAL INFORMATION ...........................................................................................9 (C) RESPECTING FULTON’S PHYSICAL AND INTELLECTUAL PROPERTY ..........................................................................10 (D) COMPLYING WITH SECURITIES LAWS REGARDING INSIDER TRADING.......................................................................10 PART 3 ........................................................................................................................................................................... 11 WE DO WHAT IS RIGHT: WE AVOID CONFLICTS OF INTEREST .......................................................................11 (A) IDENTIFYING AND AVOIDING REAL, POTENTIAL OR EVEN THE APPEARANCES OF CONFLICTS OF INTEREST ....11 (B) BUSINESS ENTERTAINMENT ..............................................................................................................................................12 (C) GIVING AND ACCEPTING GIFTS. ........................................................................................................................................12 (D) CONTRIBUTING TO POLITICAL CAUSES OR CANDIDATES OR POLITICAL OFFICE. ....................................................13 (E) PURCHASING REAL OR PERSONAL PROPERTY FROM FULTON ..................................................................................13 PART 4 .......................................................................................................................................................................... 14 WE DO WHAT IS RIGHT: WE RESPECT ALL PEOPLE IN OUR WORKPLACE ..................................................14 (A) CREATING A DIVERSE AND INCLUSIVE WORKPLACE . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .14 (B) COMMUNICATING IN A RESPECTFUL MANNER. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .14 (C) MAINTAINING WORKPLACE SAFETY. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .14

TABLE OF CONTENTS 98148.2 2 © 2023 Fulton Financial Corporation PART 5 ............................................................................................................................................................................15 WE DO WHAT IS RIGHT: WE ARE MINDFUL OF OUR OUTSIDE ACTIVITIES ......................................................15 (A) REFRAINING FROM OUTSIDE EMPLOYMENT THAT INTERFERES WITH YOUR WORK FOR FULTON ........................ 15 (B) SERVICE ON FOR-PROFIT BOARDS .................................................................................................................................. 15 (C) SERVICE ON NOT-FOR-PROFIT BOARDS .......................................................................................................................... 15 (D) RUNNING FOR POLITICAL OFFICE AND POLITICAL ACTIVITIES ..................................................................................... 15 (E) CONDUCTING OUTSIDE ACTIVITIES (DIRECTORS) ......................................................................................................... 16 (F) PARTICIPATING IN COMMUNITY, CHARITABLE AND OTHER CIVIC ACTIVITIES. ............................................................ 16 (G) MANAGING PERSONAL FINANCES PROPERLY ................................................................................................................ 16 (H) FIDUCIARY RELATIONSHIPS ............................................................................................................................................... 16 PART 6 ............................................................................................................................................................................17 WE DO WHAT IS RIGHT: WE ADMINISTER AND ENFORCE OUR CODE WITH OBJECTIVITY AND FAIRNESS AND IN COMPLIANCE WITH ALL LAWS ............................................................................................ 17 (A) REPORTING ACTUAL OR SUSPECTED CODE VIOLATIONS ............................................................................................. 17 (B) ENSURING AGAINST RETALIATION ..................................................................................................................................... 17 (C) COOPERATING IN INVESTIGATIONS OF ACTUAL OR SUSPECTED CODE VIOLATIONS ............................................. 17 (D) RESOLVING ACTUAL OR SUSPECTED CODE VIOLATIONS AFTER CAREFUL REVIEW OF THE FACTS AND NECESSARY CONSULTATION .............................................................................................................................. ........18 (E) CONTINUALLY ASSESSING OUR ADHERENCE TO OUR CODE STANDARDS ................................................................ 18 (F) PROPERLY DISCLOSING THE EXISTENCE OF OUR CODE AND ANY AMENDMENTS AND WAIVERS AS REQUIRED BY LAW ........................................................................................................................................................ .......18 1. Annual disclosure of our Code ............................................................................................................................................ 18 2. Amending our Code ............................................................................................................................................................ 18 3. Waivers of our Code for certain executive officers and directors of Fulton......................................................................... 18

I am pleased to share Fulton Financial Corporation’s Code of Conduct (our Code). This important document outlines the “do’s and don’ts” of conducting business at our company. It provides a framework to help all of us make decisions about how to handle a variety of situations. Our Code also helps us to be certain that we understand the legal and ethical implications of the decisions we make every day. I encourage you to read through our Code to be sure you understand how it applies to you, and to check with your manager or supervisor if any part of our Code is unclear to you. Our Code is supported by Our Purpose and Our Values and Guiding Behaviors detailed below. Together, they demonstrate what we stand for and how we interact with each other. These statements drive our focus and guide us in creating a better experience for each of us, our co-workers, and our customers. Our Code, Purpose, Values and Guiding Behaviors are to be followed, every day, by our management team, our board of directors, and all employees throughout the company. Thank you for doing your part to ensure that Fulton Financial Corporation operates as an honest, open and highly ethical financial institution! A MESSAGE FROM OUR LEADER 98148.2 3 © 2023 Fulton Financial Corporation Curtis J. Myers Chairman, CEO and President Fulton Financial Corporation

OUR PURPOSE AND OUR VALUES & GUIDING BEHAVIORS 98148.2 4 © 2023 Fulton Financial Corporation OUR PURPOSE We change lives for the better. CHANGE VALUE We innovate by continuous learning and improving with a spirit of curiosity. COLLABORATIVE VALUE We work together. We win together. CUSTOMER VALUE We Care, Listen, Understand, and Deliver. ETHICS & INTEGRITY VALUE We do what is right. PERFORMANCE VALUE We are driven to out-perform our competitors. I own my results. ORGANIZATIONAL HEALTH VALUE We bring positive energy to all we do. GUIDING BEHAVIORS: • We look for new ways to reach our goals • We encourage each other to share individual perspectives on topics • We strive for continual learning GUIDING BEHAVIORS: • We create trusting, respectful relationships • We challenge each other to be the best • We work toward a common goal GUIDING BEHAVIORS: • We understand and anticipate the future needs of our customer • We consider the impact of decisions on customers • We deliver an exceptional experience GUIDING BEHAVIORS: • We demonstrate the highest professional and ethical standards • We deliver on commitments • We are honest with people GUIDING BEHAVIORS: • We know and understand our objectives • We live our values while we deliver results • We provide and accept feedback • We do what needs to be done – even when it is hard GUIDING BEHAVIORS: • We are purpose driven and passionate • We recognize and celebrate effort and accomplishment • We support one another • We support and foster Diversity, Equity and Inclusion in our workplace.

INTRODUCTION TO FULTON’S CODE OF CONDUCT: WE DO WHAT IS RIGHT 98148.2 5 © 2023 Fulton Financial Corporation Our core values and guiding behaviors require all of us to demonstrate the highest professional and ethical standards in all of our business activities. Our Code sets the professional and ethical standards for our conduct as employees and directors of Fulton1. Some of the standards set forth in our Code are required by law. Some are necessary to protect the interests of Fulton. Some are included simply because they represent what is right. All of these standards represent Fulton’s uncompromising commitment to ethical conduct and integrity in all of our business activities2. Our Code is not intended to address every possible ethical issue that may arise in our daily business activities. It is a set of standards that guides our conduct. Fulton’s policies inform and provide further guidance regarding many of the standards in our Code. Some of these policies are referenced in our Code. You are responsible for reading and understanding our Code as well as Fulton’s policies that inform our Code. In addition, you are responsible for carefully considering them as they apply to all of your business and personal activities. A violation of our Code provides a basis for disciplinary action up to and including termination of employment or termination of service as a director. A violation of our Code may also subject you to legal action. 1“Fulton” refers to Fulton Financial Corporation and each of its subsidiary and affiliate entities. 2Our Code is not intended to, should not be interpreted as, and will not be enforced to discourage, prohibit or interfere with any employee’s rights under federal or state laws, including rights under any whistleblower protections under federal or state law and rights under the National Labor Relations Act, such as discussions regarding wages, hours and other terms and conditions of employment and other protected, concerted activity. Our Code does not create a contract of employment between you and Fulton. Your employment remains “at-will,” meaning you or Fulton may terminate the employment relationship at any time. Q: What if I don’t know what the right thing to do is? Who can I ask? A: If you have questions about our Code or any Fulton policy, or you are unsure about what is the “right” thing to do in any situation, you should ask your supervisor or your manager or you may seek guidance from the Human Resources Department or Legal Department. You may also contact Fulton’s ethics hotline, EthicsPoint. EthicsPoint is operated and managed by an independent company and is accessible 24 hours a day. EthicsPoint allows you to report actual, potential, or suspected violations of the Code anonymously, if you wish. Whether or not you give your name, the information you provide through EthicsPoint will be forwarded to Fulton’s Human Resources Department or the Fraud Risk Management Department for investigation and review as appropriate. HUMAN RESOURCES DEPARTMENT - hremployeeservices@fultonbank.com, 717.291.2608 LEGAL DEPARTMENT - legal@fultonbank.com, 717.824.8480 WHO CAN I ASK?

PART 1 98148.2 6 © 2023 Fulton Financial Corporation PART 1 WE DO WHAT IS RIGHT: We Conduct Ourselves and Our Business with Honesty, Integrity and Accountability and We Comply with All Laws and Regulations (a) Maintaining financial accountability and internal controls Fulton has numerous internal controls, policies and procedures. You are expected to be familiar with and to operate within these established controls, policies and procedures. Fulton is subject to periodic internal audits, reviews and investigations that evaluate, among other things, the adequacy of internal controls, policies and procedures. When you are involved in these periodic assessments, including assessments conducted by external parties hired by Fulton, you must provide accurate and complete information, fully cooperate with the auditors, reviewers and/or investigators and respond to inquiries with complete candor and full transparency. (b) Being truthful and transparent with regulators Regulatory agencies regularly examine Fulton’s compliance with banking regulations and other applicable laws and regulations. When interacting with examiners, you must be honest and responsive and you must not knowingly provide information that is false, misleading or materially incomplete or that could lead to mistrust by our regulators. (c) Guarding the integrity of accounting and financial information Fulton maintains the highest standards in preparing the accounting and financial information disclosed to the public. Fulton is committed to providing full, fair, accurate, timely, and understandable disclosure in reports and documents that it files with or submits to the Securities and Exchange Commission (“SEC”) and other government regulators as well as in its other public communications. You must never issue or permit to be issued information that is false, misleading or materially incomplete or could lead to mistrust by the public, our customers or our stockholders. You are required to accurately compile and properly classify accounting entries and maintain all financial records in accordance with applicable law. (d) Lending within authorization limits You may not lend beyond your approved lending limit or in a manner that is contrary to established procedures without first obtaining written authorization to do so. Doing so is a willful misapplication of funds, a violation of our Code and potentially a federal crime. (e) Providing advice to customers From time to time, you may be asked by customers to offer opinions on legal, accounting or tax matters. You may not offer legal, accounting or tax advice to customers. If you are uncertain about the nature of the advice being sought in any particular instance, you should ask your supervisor or manager or you should contact the Human Resources Department or the Legal Department for guidance. (f) Preventing money laundering and transaction structuring Money laundering is the attempt to conceal the ownership or source of funds from the government through the use of financial transactions. Fulton will not permit, or be associated with, this activity. Q: Where can I find the internal control policies and procedures that apply to my job? A: Your first resource to this information is your supervisor or manager. Most internal control policies and procedures are available on The HUB.

PART 1 98148.2 7 © 2023 Fulton Financial Corporation Q: I was opening a new account for an existing customer. I forgot to have the customer initial in one place on the application. The customer has already left the bank. I did not want to inconvenience the customer by making the customer come back to the bank for one simple initial, so I wrote in the customer’s initials. The customer had signed and initialed everywhere else and it really was not an important part of the application. I thought I was doing the customer a favor. Now I am second guessing whether I did the right thing. What should I do? A: Your desire not to inconvenience the customer was well intended. However your action was dishonest, an intentional falsification of a financial record and contrary to our Code. You should immediately report your action to your manager so that necessary action can be taken to correct the financial record. If you are uncomfortable going to your manager, you may report your action to your Human Resources Business Partner (HRBP) or another member of the Human Resources Department. Q: Adrien is a commercial loan processor who works remotely from home. He punches in on Fulton’s time and attendance system each work- day at 8:30a.m. On Tuesdays and Thursdays Adrien drives his elderly grandmother to an elder care center for afternoon activities. Adrien drops her off at around 2:00p.m. and picks her up at 4:00p.m. A round trip to the elder care center usually takes about 35 minutes. Adrien does not punch out/punch in when he makes these trips. He “makes up the time” by punching out at 5:00p.m. but continuing to do work until 6:00p.m. Adrien believes that this is the right thing to do to make up for the time he spends driving his grandmother to and from elder care two days a week. Is Adrien correct? A: While Adrien’s intentions may be good, he is not maintaining honest and accurate records of his time worked. All non-exempt (hourly) employees are required to keep accurate records of all time worked by punching in each time they begin work and punching out each time they intend to stop work for 30 minutes or more. On days Adrien takes his grandmother to elder care, he should be punching out each time he takes his grandmother to elder care and picks her up from elder care and punching in when he returns. He should be punching out at 6:00p.m. when he finishes work. Fulton has robust policies and procedures in place to identify and investigate suspicious activities and transactions for the express purpose of preventing, identifying and reporting possible attempts to launder money. Please refer to Fulton’s Bank Secrecy Act/Anti-Money Laundering/Office Foreign Assets Control Policy. You are required to follow this policy and to immediately report all attempts to launder money or structure a transaction, as well as all unusual activities. Any employee or director who knowingly or willfully launders money or attempts or assists someone in laundering money (including structuring a transaction to avoid the currency reporting requirements of the Bank Secrecy Act), violates our Code and federal law and is subject to termination of employment, and fines, imprisonment, or both. (g) Maintaining honest, accurate and complete records You are responsible for maintaining honest, accurate and complete records. Falsification of any Fulton record, financial or otherwise, is unacceptable and may be a violation of our Code. Further, anyone who embezzles, steals, or misappropriates any monies violates our Code and is subject to termination of employment and fines, imprisonment, or both. Fulton may prosecute and seek restitution in such cases. (h) Complying with antitrust laws and dealing fairly with others Fulton vigorously competes with other companies for customers. However, Fulton will not seek to gain a competitive advantage through unethical or illegal business practices. Fulton adheres to all antitrust and competition laws. You are expected to deal fairly with co-workers, directors, customers, vendors, competitors and related parties. You may not take unfair advantage of another person, vendor, or competitor through manipulation, concealment, abuse of privileged information, misrepresentation of material facts, or by any other intentional unfair-dealing or deceptive practice. (i) Complying with the Foreign Corrupt Practices Act and the Bank Bribery Law The Foreign Corrupt Practices Act (“FCPA”) prohibits Fulton or any Fulton employee, director, stockholder or agent of Fulton from making payments to foreign government officials to assist in obtaining or retaining business. In accordance with the Bank Bribery Law, you may not solicit for yourself or any third party anything of value in return for any business or services of Fulton or accept anything of value (other than bona fide salary, wages or other bone fide compensation) from anyone in connection with the business of Fulton. Exceptions to the general prohibition on giving/accepting things of value in connection with the business of Fulton include: • Gifts, gratuities, amenities or favors based on obvious family or personal relationships where circumstances make clear that the motivation and purpose for the giving/receiving of the gift is personal rather than business related; • Meals, entertainment, travel arrangements and/or accommodations, and gifts of reasonable value. Please refer to Part 3(b) and (c) of our Code. You must report immediately any actual, potential or suspected bribery or FCPA violations to the Human Resources Department or the Legal Department or you may file a report on EthicsPoint.

PART 1 98148.2 8 © 2023 Fulton Financial Corporation (j) Promoting responsible customer-centered sales practices Fulton provides financial products and services to consumers based on the consumers’ needs and qualifications. Fulton endeavors to ensure that consumers are able to make fully informed decisions to enroll in Fulton products and services free from force or pressure to do so. To that end, you must comply with Fulton’s Unfair Deceptive or Abusive Acts or Practices Policy and otherwise refrain from acting in a manner that is contrary to consumers’ interests for personal or corporate gain. Further, Fulton works to ensure that all consumer products are free from discriminatory effect, and offered and provided in a non-discriminatory manner. (k) Using social media for business related purposes in a responsible and compliant manner Laws and regulations, as well as internal policies and procedures, govern our business activities conducted in writing, in person, or electronically apply with equal force to business activities conducted through personal social media accounts. If you wish to use your personal social media accounts to share business-related information, you must abide by Fulton’s Employee Social Media Guidelines. “We treat consumers fairly, refrain from engaging in unethical or illegal sales practices, provide clear and complete communications regarding products and services and are responsive to customer concerns…” Non-lending consumer products found to have a discriminatory effect on protected classes may be deemed “unfair” under UDAAP.

PART 2 98148.2 9 © 2023 Fulton Financial Corporation Protecting and Safeguarding Confidential Information While Working Remotely Working remotely creates new risks of inadvertent disclosure of customer information and non-public proprietary information. To reduce the risk of inadvertent disclosure: DO establish a place to work in your home that is away from or not readily visible to others in your home. DO practice “clean desk” hygiene by putting away Fulton documents and information when you are not working. DO lock your computer when you are not seated at your computer, even for short periods of time if there are others in your home while you are working. DO NOT send Fulton documents to your personal email address. All Fulton documents and information should remain within the Fulton fire wall at all times. DO NOT conduct business calls where others can overhear the conversation. PART 2 WE DO WHAT IS RIGHT: We Safeguard Information and Property Entrusted to Us (a) Protecting our customers’ information One of Fulton’s most important legal and corporate responsibilities is to maintain the trust placed in us by our customers. You must safeguard customer information, whether obtained from our customers, those with whom Fulton does business or from sources within Fulton. You may use customer information only for proper business and customer purposes. Unauthorized use or disclosure of customer information may expose Fulton to legal consequences and harm Fulton’s reputation. Customer information includes: Name, address, phone number, email address, social security number, account number, transactions/transaction history, and credit information. (b) Safeguarding Fulton’s confidential information3 For many of us, it is a necessary part of our jobs to create, have access to and utilize Fulton’s confidential and non-public proprietary information. Confidential and non-public proprietary information is information about our customers, prospective customers, suppliers or shareholders. It also is information about the development of systems, processes, products, know-how and technology, business methods and strategies, marketing methods, systems and software as well as information regarding Fulton’s accounts, loans, sales and financial condition. This information can take many different forms. It can be oral, written or electronic. It can be information contained in a report or correspondence with a regulator (Confidential Supervisory Information) shared in a meeting, in a memo, on a computer screen, in a database, in an email or other electronic format. Each of us must take care in what we say, to whom and where we say it; about how we treat memos, files and reports; and about safeguarding information on our computer displays or in other data stores (electronic or otherwise). In many cases, state and federal laws and regulations prohibit even inadvertent or unintentional disclosure of such confidential and/or non-public proprietary information. In other cases, disclosure of Fulton’s confidential and/or non-public proprietary information could cause significant harm to Fulton. Confidential and non-public proprietary information available to one affiliate, department, employee or director of Fulton should only be communicated to other affiliates, departments, employees or directors who have a legitimate need to know such information for a business purpose. Accordingly, you may not disclose Fulton’s confidential and non-public proprietary information to anyone, including family members, friends, acquaintances or even other employees, other than those individuals inside or outside Fulton who have a legitimate need to know such information for a legitimate business purpose or when authorized or required by law. Unauthorized disclosure or improper use of Fulton’s confidential and non-public proprietary information is a violation of our Code. If you are not sure whether certain information is confidential non-public proprietary information, or whether disclosure of such information is permissible, it is your responsibility to ask your supervisor, manager, the Human Resources Department or the Legal Department for guidance. Confidential Information includes, but is not limited to, the following: • Information marked as “confidential” or similarly marked or information that the recipient should, in the exercise of reasonable judgment, recognize as confidential • All trade secrets • All marketing materials, proposals and presentations, objectives and promotions • Financial results, analysis or projections • Technology and systems and technological developments • All compliance and regulatory information • Any and all information of or about customers or prospective customers of any nature whatsoever • All notes, memoranda, analyses, compilations, working papers, presentations, studies and other strategic documents • All information regarding accounts, loans, sales and/or any other financial information 3Nothing in the Code of Conduct shall limit employees’ rights under applicable law to provide truthful information to any governmental entity or to file a charge with or participate in an investigation conducted by any governmental entity. Employees are hereby notified that the immunity provisions in Section 1833 of title 18 of the United States Code provide that an individual cannot be held criminally or civilly liable under any federal or state trade secret law for any disclosure of a trade secret that is made (1) in confidence to federal, state or local government officials, either directly or indirectly, or to an attorney, and is solely for the purpose of reporting or investigating a suspected violation of the law, (2) under seal in a complaint or other document filed in a lawsuit or other proceeding, or (3) to employee’s attorney in connection with a lawsuit for retaliation for reporting a suspected violation of law (and the trade secret may be used in the court proceedings for such lawsuit) as long as any document containing the trade secret is filed under seal and the trade secret is not disclosed except pursuant to court order.

PART 2 98148.2 10 © 2023 Fulton Financial Corporation (c) Respecting Fulton’s physical and intellectual property Fulton’s physical property including furnishings, facilities, equipment, supplies, customer lists, files, reference materials and reports, computer software, data processing systems, and databases is the property of Fulton. You may not use or remove any of Fulton’s physical property (originals or copies) from the possession of Fulton without proper authorization and without a proper purpose. All of us must respect all copyright and intellectual property laws relating to Fulton property. Fulton’s copyrighted and intellectual property includes Fulton’s name, logo, hashtags, brand, taglines and slogans. We also must respect the copyright and intellectual property of third parties, including vendors and former employers. (d) Complying with securities laws regarding insider trading All of us must adhere to Fulton’s Insider Trading Policy and Compliance Procedures. Material non-public information about Fulton that might be important to an investor in making a decision to buy, sell, or retain a security issued by Fulton is considered “Inside Information.” Examples of Inside Information include: annual or quarterly financial results; earnings projections; news of a major acquisition or sale of assets; changes in dividend policy, including plans to declare a stock split or dividend; stock repurchases; capital raising activities; impending bankruptcy or financial or liquidity problems; the departure of an executive officer or director; loan loss or recovery; and the occurrence of a cybersecurity incident or breach. Inside information can be positive or negative information. The use or disclosure of inside information can result in civil and criminal penalties under federal and state securities laws for involved individuals and Fulton. Accordingly, you may not use or disclose Inside Information. When in doubt about whether a particular piece of information might be Inside Information, you should consult the Legal Department. Inside Information may include: • Annual or quarterly financial results • Earnings projections • News of a major acquisition or sale of assets • Changes in dividend policy, including including plans to declare a stock split or dividend • Stock repurchases • Capital raising activities • Impending bankruptcy or financial or liquidity problems • The departure of an executive officer or director • Loan loss or recovery • The occurrence of a cybersecurity incident or breach

PART 3 98148.2 11 © 2023 Fulton Financial Corporation Q: I own stock in a publicly traded company that is also one of Fulton’s largest vendors. Is this a conflict of interest because I have an investment in a company that is a vendor of Fulton? A: No, as a general rule, it is not a conflict of interest to own stock in a company that is a vendor or customer of Fulton if the company’s stock is publicly traded. However, per Fulton’s Insider Trading Policy, a Fulton employee who knows of material non-public information about a customer or vendor of Fulton may not purchase or sell the company’s’ stock while the information remains non-public. Nor may the employee disclose the non-public information to any third person. Generally speaking, it would be a conflict of interest for a Fulton employee to invest directly in a company whose stock is not publicly traded (private company) and is a customer or vendor of Fulton if the employee is in a position to influence Fulton’s business relationship and/ or banking decisions regarding that customer or vendor. For example, it likely would be a conflict of interest for a Commercial Relationship Manager who is responsible for Fulton’s banking relationship with a private real estate development company to invest directly in that real estate development company. Employees who have opportunities to invest in a private business or company that is a Fulton customer or vendor should seek guidance from their manager or supervisor, the Legal Department, the Human Resources Department or file an EthicsPoint report asking for guidance on the matter before making any investment. PART 3 WE DO WHAT IS RIGHT: We Avoid Conflicts of Interest Fulton’s reputation for integrity is its most valuable asset. Your conduct could create, reinforce, or damage this valuable asset. You must manage your personal and business affairs in a manner that avoids situations that might lead to a conflict, or even the appearance of a conflict between you and your duty to Fulton, our customers or our shareholders. You must therefore never use your position for improper personal or private gain or to obtain improper benefits or favors for yourself, for family members4, or for any other persons or entities, including competitors, customers, or vendors. (a) Identifying and avoiding real, potential or even the appearances of conflicts of interest You are expected to carefully consider, recognize and avoid possible conflicts of interest situations; situations in which your personal interests or relationships interfere, might interfere, or appear to interfere, with your responsibilities to Fulton. Examples of real or potential conflicts of interest include: • Employment by a competitor, vendor, or customer; • Borrowing money from a vendor, customer or fellow employee; • Giving or receiving a referral fee, outside of Fulton’s approved recognition and rewards programs, in connection with Fulton business activities; • Giving or receiving an improper personal benefit in connection with your employment, such as accepting a gift that could reasonably be construed as an attempt to improperly influence you in connection with Fulton’s business activities or for the referral of business; • Occupying or assuming a fiduciary role for a customer or customer (unless the role is unrelated to your employment and is performed for a family member or based on a close personal relationship independent of your employment); • Investing in a privately held business that is a customer or vendor of Fulton; • Selling goods or services to Fulton; or • Receiving an inheritance from a customer or the customer’s family member (unless the customer is a family member). If you are not sure whether a situation is, could be, or could appear to be a conflict of interest, it is your responsibility to bring the situation to the attention of your supervisor, manager, the Human Resources Department or the Legal Department and to seek advice regarding whether the matter is a conflict of interest. 4 As used in this Code “family member” includes any child, spouse, grandchild, stepchild, parent, grandparent, sibling, mother-in-law, father-in-law, daughter-in-law, son-in-law, brother-in-law, sister-in-law, domestic partner or any person sharing your household (other than in the sole capacity of tenant or employee).

PART 3 98148.2 12 © 2023 Fulton Financial Corporation Q: Adele is a Talent Acquisition Advisor. Part of her job is working with outside recruiting firms to source applicants for Fulton. Sarah is the owner of one such outside recruiting firm. A little over a year ago Sarah sent Adele a very expensive designer silk scarf as a thank you for using Sarah’s recruiting firm for the first time. Adele politely informed Sarah that she could not accept the scarf because it would be a violation of Fulton’s Code. Sarah asked some questions about the restrictions on accepting gifts under Fulton’s Code. Adele provided the answers. Since that time, Adele has continued to use Sarah’s recruiting firm. Sarah has sent Adele a gift on every holiday, including holidays such as Presidents’ Day, Memorial Day, Labor Day, Martin Luther King Day and Columbus Day. While each of the gifts has been of reasonable value, Adele is unsure whether she can accept all of these gifts. Adele tells her supervisor about the gifts. Her supervisor tells Adele that accepting all of these gifts likely is a violation of our Code of Conduct. Is Adele’s supervisor correct? A: While accepting gifts of reasonable value “in connection with commonly recognized . . . holidays” is permitted under our Code, “ …care should be taken to avoid gifts that could reasonably be construed as attempts to improperly influence the recipient in connection with Fulton’s business activities.” Here, Sarah is giving Adele gifts on every holiday, including numerous holidays that are not traditionally “gift giving” holidays. This suggests that the gift is not “in connection” with the holidays, but rather to influence Adele to continue using Sarah’s recruiting firm. (b) Business Entertainment Entertaining or being entertained by customers or vendors is often a part of the business culture. You may accept or provide business meals, entertainment, (such as tickets to sporting events, cultural events or offers to golf outings), travel arrangements and/or accommodations from/to customers and/or vendors only if this is customary in your line of business, the cost is reasonable under the circumstances and the purpose of the meals, entertainment, travel arrangements and/ or accommodations is to hold bona fide business discussions or foster better business relations. In general, the value of meals, entertainment, travel arrangements and/or accommodations should not exceed the amount that Fulton would reimburse as an appropriate business expense. However, the giving or accepting of a sports or concert ticket or other offers of entertainment without the other party attending the event is not considered business entertainment and should be viewed as a gift subject to the rules and limitations herein. Meals, entertainment, travel arrangements and/or accommodations that fall outside of the above guidelines may be approved on a case-by-case basis by Fulton’s Chief Legal Officer on the basis of the requestor’s full written disclosure of all relevant facts. Additional restrictions or prohibitions may exist when meals, entertainment, travel arrangements and/or accommodations are provided for elected officials or the employees of federal or state governmental entities or of government-owned businesses. If you are in doubt as to whether providing or accepting business meals, entertainment, travel arrangements and/or accommodations is appropriate, you should bring the matter to the attention of your supervisor, manager, the Human Resources Department or the Legal Department. (c) Giving and accepting gifts Gifts given or accepted in connection with business activities or business relationships must always comply with applicable laws and regulations. Except as provided below, neither you nor your family members may accept or request a gift from anyone doing business or seeking to do business with Fulton, or from Fulton’s employees or directors if the gift is for the purpose of influencing or rewarding you in connection with any business transaction involving Fulton, or would reasonably create that appearance. Similarly, you may not offer or give a gift for the purpose of influencing business relations, or where it would be reasonable to conclude that a gift is given for that purpose. Some gifts are permitted, such as: • Gifts, awards, incentives, or bonuses provided by Fulton; • Advertising or promotional material of nominal value, such as pens, keychains, calendars, deal mementoes, and similar items; or discounts or rebates on merchandise or services that do not exceed those available to other customers; • Gifts of reasonable value that are related to a commonly recognized event or occasion, such as a promotion, wedding, or holiday, though care should be taken to avoid gifts that could reasonably be construed as attempts to improperly influence the recipient in connection with Fulton’s business activities; • Winning a prize in a lawful game of chance or receiving something of value during a business related event such as a golf outing (e.g., a prize for the best shot) is not prohibited if the item received is reasonable under the circumstances and is of reasonable value. Gifts that fall outside of the above guidelines may be approved on a case-by-case basis by Fulton’s Chief Legal Officer on the basis of the requestor’s full written disclosure of all relevant facts. However, gifts of cash or cash-equivalents, such as checks, money orders and gift cards for general use (i.e., bank gift cards or similar items) in any amount are expressly prohibited.

PART 3 98148.2 13 © 2023 Fulton Financial Corporation Additional restrictions or prohibitions may exist when gifts are provided to elected officials, or the employees of federal or state governmental entities or of gov- ernment-owned businesses. When in doubt as to whether giving or accepting a gift, promotional item or prize is appropriate, you should bring the matter to the attention of your supervisor, manager, the Human Resources Department or the Legal Department. (d) Contributing to political causes or candidates for political office You may make personal political contributions to candidates or to political action committees in compliance with federal, state, and local campaign contribution laws, provided that such contributions are not made to improperly influence a political official, candidate, or party. Because Fulton provides services to a number of government entities, Fulton and its employees are required by law to disclose certain political contributions. Peri- odically throughout the year you will receive a communication from Fulton inquir- ing whether you or your family members have made certain political contributions and requiring you to disclose such contributions to Fulton. For more information, please see FAQs: Political Contributions Reporting on the HUB. (e) Purchasing real or personal property from Fulton You or your immediate family members may not purchase, directly or indirectly any real or personal property that has been repossessed or foreclosed upon by Fulton or is being sold at Fulton’s direction as the servicer of a loan. It is your responsibility to conduct the necessary due diligence to make sure that you are not purchasing property that is subject to foreclosure or short sale, owned, marketed or managed or serviced by Fulton. You or your immediate family member also may not purchase, directly or indirectly, any real or personal property that is being sold by Fulton in its capacity as fiduciary of a fiduciary account. It is your responsibility to conduct the necessary due diligence to ensure that you are not purchasing property that is being sold by Fulton in its fiduciary capacity (i.e., executor, trustee, guardian, etc.). Q: I am a mortgage loan officer. I know that RESPA prohibits me from giving or receiving “things of value” in connection with business referrals. But our Code allows me to give or receive gifts from business associates of reasonable value as long as it is not cash. So, is it ok for me to give a $50.00 Olive Garden gift certificate to the receptionist at ABC Real Estate who has referred several customers to me? A: No, it is not. RESPA prohibits the giving or receiving of gifts of any value if the gift is given or received in whole or in part because of a business referral(s). So even a $50.00 gift certificate to a restaurant given as a thank you for referrals is prohibited by RESPA. Q: I am a Fulton employee. One of my favorite things to do on the weekends is to “shop” at auctions and estate sales. I know that, sometimes, estate sales and auctions are conducted for Fulton’s fiduciary customers. The sales are public and the price is set by competitive bidding, so I can buy items auctioned off at these sales, right? A: Wrong. Employees and directors are prohibited from purchasing property from fiduciary accounts. Even though an estate sale or auction is public and the prices are driven by competitive bidding, employ- ees and directors are not allowed to purchase items at these events. It is a conflict of interest for an employee or director to purchase items at these sales without a prior court order approving the purchase. Real Estate Settlement Procedures Act (RESPA) RESPA prohibits any person from giving or accepting anything of value in connection with a referral for any business incident to or part of a real estate settlement service involving a mortgage loan.

PART 4 98148.2 14 © 2023 Fulton Financial Corporation PART 4 WE DO WHAT IS RIGHT: We Respect All People in Our Workplace Our “workplace” is more than the department, the branch or the building in which we work. It is any place where we do our work – at customers’ places of businesses, at business events, on business trips, on our computers and in meetings and expressly includes our home or wherever we may be working remotely. There are many other people in our workplace with us. There are customers, vendors, temporary workers and visitors. Fulton’s commitment to a respectful workplace extends to all people in our workplace. (a) Creating a diverse and inclusive workplace Fulton is an Equal Employment Opportunity (EEO) and Affirmative Action Employer. We conduct all of our employment activities in com- pliance with all federal and state EEO and anti-discrimination laws. However, Fulton strives for more than compliance; Fulton strives for a diverse and inclusive workplace where the talents, cultural identities, backgrounds and experiences of all members of our workplace are valued and all members of our workplace are treated with dignity and respect. Please refer to Fulton’s Equal Employment Opportunity Policy and Fulton’s Diversity and Inclusion Policy for more information on these important topics. You are a member of Fulton’s workplace. You are expected to conduct yourself in accordance with these policies. (b) Communicating in a respectful manner We must all be aware of our communications with others in the workplace. Whether oral, electronic or on paper, our communications must not be malicious, obscene or threatening, disparaging of customers, vendors or suppliers, or unlawfully harassing. Examples of unacceptable communications include communications that contain sexual comments or images, discriminatory content, or any oth- er comments or images that could reasonably offend someone on the basis of race, color, religion, creed, sexual orientation, national origin, citizenship, gender, gender identity, age, disability, genetic information, marital status, covered veteran status, or any other legally protected status. Please refer to Fulton’s policy on Covered Communications (Blogging & Social Networking), Employee Social Media Guidelines and Fulton’s Sexual and Other Unlawful Harassment Policy. (c) Maintaining workplace safety Fulton strongly believes that all employees should be treated with dignity and respect and have a safe and secure work environment. Workplace violence or threats will not be tolerated. Please refer to Fulton’s Workplace Violence Policy. Maintaining workplace safety also means that we must all follow Fulton’s health and safety protocols. Refusal to or failure to follow health and safety protocols is a violation of our Code and may be a basis for disciplinary action. Continually fostering and growing a diverse and inclusive organization is necessary for Fulton’s success. Fulton believes that embracing the differences and similarities of all individuals in our organization spurs innovation, creativity and collaboration, and creates a thriving organization.

PART 5 98148.2 15 © 2023 Fulton Financial Corporation Q: I am a financial center manager. I have agreed to serve as campaign manager for a friend who is running for local office. My friend opened up a campaign fund account with Fulton. He identified me as an individual with signing authority on the account. Is this a problem? A: Yes. Having signing authority on the campaign fund account blurs the lines between your role as a Fulton financial center manager and your role as the campaign manager for your friend and may create the appearance that Fulton supports your friend’s political views. Separately, it also is a potential conflict of interest for you individually. In order to avoid any conflict of interest or any misperception regarding Fulton’s role in your friend’s campaign, your friend should either open a campaign fund at a different bank or remove you as an authorized signor on the account. PART 5 WE DO WHAT IS RIGHT: We Are Mindful of Our Outside Activities Fulton encourages all employees and directors to be involved in civic and community organizations. However, it is your responsibility to make certain that your outside activities do not materially interfere with or conflict with the interests of Fulton. (a) Refraining from outside employment that interferes with your work for Fulton Employees may be permitted to engage in appropriate employment outside of Fulton with prior written approval from the Chief Human Resources Officer. Once approved, Fulton may review or request additional information concerning the employment or activity, or may revoke a prior approval if circumstances change or a conflict arises. (b) Service on for-profit boards Except for Senior Executive Officers (defined below), employees may not serve on the boards of directors for entities that are “for-profit” businesses other than the boards of directors for Fulton entities unless prior approval from the Chief Human Resources Officer is obtained. Fulton may review or request additional information concerning the service on a for-profit board, or may revoke a prior approval if circumstances change or a conflict arises. Senior Executive Officers may not serve on boards of directors of non-Fulton “for- profit” entities without prior approval of the Nominating and Corporate Governance Committee5 which shall consider the time commitments, reputation risks and other relevant criteria in making an approval determination. “Senior Executive Officers” means the persons designated from time to time by the Board of Directors of Fulton Financial Corporation as officers for purposes of Section 16 of the Securities and Exchange Act of 1934. (c) Service on not-for-profit boards If you are or become a trustee, director or officer of a non-profit organization, you are expected to exercise independent judgment and to be guided by the best interests of the organization involved and not that of Fulton. If the organization is a customer of Fulton, you must be mindful to avoid any real, potential or perceived conflict of interest. This may require, for example, that you excuse yourself from any financial decisions involving both Fulton and the organization that you serve. You may reach out to Human Resources for guidance if you are unsure about a given situation. (d) Running for political office and political activities You are encouraged to participate in political activities on your own time at your own expense and in accordance with your individual political preference. However, it must be clear that you are participating as an individual and not as a representative of Fulton. In addition, you may not use any Fulton facilities, phones, email or supplies in political activities. If you desire to run for an elected political office or to accept a paid appointment to a federal, state, or local governmental office you must contact the Human Resources Department to discuss the steps necessary to avoid any real, potential or perceived conflict of interest. 5This restriction on service on other for-profit boards of directors does not apply to non-employee directors of Fulton or its affiliates. However, their service may be further limited by Fulton’s Corporate Governance Guidelines (see PART 5(e))

PART 5 98148.2 16 © 2023 Fulton Financial Corporation (e) Conducting outside activities (directors) Fulton Financial Corporation Directors must provide written prompt notice to the Corporate Secretary and the Nominating and Corporate Governance Committee Chair, of all changed or new business activities, related party relationships, or board directorships as they arise. (f) Participating in community, charitable and other civic activities Fulton supports and encourages your participation in community, professional and charitable organizations. However, your personal interests and activities unrelated to your position with Fulton should not: (i) involve any unreasonable use of the Fulton’s phones, email, supplies or facilities; (ii) adversely impact your job performance; (iii) create a real, potential or perceived conflict of interest with Fulton; or (iv) adversely affect Fulton’s reputation. Community, charitable and other civic activities unrelated to your position with Fulton should be conducted on your own time. You may request paid time off (PTO) or volunteer time off (VTO) to participate in activities that occur during your work day. (g) Managing personal finances properly Because of the nature of the banking industry, your personal financial situation, if improperly handled, could undermine your credibility and that of Fulton. In addition, a precarious financial position could be thought to inappropriately influence actions or judgments you make on behalf of Fulton. Therefore, you must avoid any circumstances that may lead to over-extensions of credit, salary attachments, drawing checks against insufficient funds, misuse of employee bank accounts, or other financially embarrassing personal situations. In addition, all transactions to your account(s) or any of your family members’ accounts are to be processed in the same manner as customers’ transactions are processed. You are not permitted to process transactions to your own account or any of your family members’ accounts with Fulton. This includes, but is not limited to, deposits, loan payments, closing accounts, re-titling accounts, administering other maintenance changes, or waiving fees. In addition, all transactions to you or your family member accounts are to be processed in the same manner as customer transactions are processed. If you are experiencing financial or other difficulty, counseling is available from the Employee Assistance Program. (h) Fiduciary relationships No employee may act in a fiduciary capacity under a will, trust, or other instrument for a customer of Fulton except for a customer who is a family member of the employee or with the prior written approval of the Chief Human Resources Officer or the Chief Legal Officer or when the employee is a Senior Executive Officer, with the prior written approval of Fulton Financial Corporation’s Board of Directors.

PART 6 98148.2 17 © 2023 Fulton Financial Corporation PART 6 WE DO WHAT IS RIGHT: We Administer and Enforce Our Code with Objectivity and Fairness and in Compliance with All Laws We all have a role in the administration of our Code. (a) Reporting actual or suspected Code violations Every employee and every director of Fulton has the responsibility to promptly report actual or suspected Code violations. You may report actual or suspected Code violations to any of the following: your supervisor; manager; the Human Resources Department; or Legal Department. You also may anonymously report actual or suspected violations of our Code through EthicsPoint, an anonymous and confidential reporting hotline. Information regarding how to file a report with EthicsPoint is available at www.ethicspoint.com or at (888) 203-2872. Fulton will investigate promptly any reported actual or suspected violation of our Code. If you believe that you may be in violation of our Code, you should promptly discuss any anticipated problem and related circumstances with, and receive guidance from, your supervisor, manager, the Human Resources Department or Legal Department. Supervisors and managers of Fulton are responsible to promptly escalate any report of any actual or suspected Code violation brought to their attention to the appropriate level for investigation and resolution. Supervisors and managers may escalate reports of actual or suspected Code violations to the Human Resources Department or the Legal Department. Any employee or director who knowingly fails to report an actual or suspected Code violation will be deemed to have violated our Code and will be subject to appropriate discipline. (b) Ensuring against retaliation Fulton does not and will not tolerate retaliation against any employee or director or other individual who in good faith reports an actual or suspected violation of our Code or any law, regulation or policy. If you believe that you have been or may have been retaliated against for reporting a concern, you should immediately report the suspected retaliation by contacting your supervisor, manager, the Human Resources Department, Legal Department or by filing a report through EthicsPoint. (c) Cooperating in investigations of actual or suspected Code violations Actual or suspected Code violations or other matters including without limitation fraud may be investigated by the Human Resources Department, the Fraud Risk Management Department, the Legal Department or outside legal counsel or any combination thereof. You are required to cooperate fully with any such investigation. Such cooperation includes being forthright, honest and forthcoming with any information that may be helpful or relevant to the investigation. Any employee or director who fails to fully cooperate with any such investigation will be deemed to have violated our Code and will be subject to appropriate discipline. YOU ARE RESPONSIBLE TO REPORT ACTUAL OR SUSPECTED CODE VIOLATIONS. If you are not sure whether to report an action or activity, ask yourself the following questions:  Is the action or activity a violation of Fulton Policy, established procedures, regulations or laws?  Is the action or activity contrary to Fulton’s Purpose, Values or Guiding Behaviors?  Could the action or activity harm Fulton’s reputation if publicized in the media or social media?  Do you feel that the action or activity is just not the right thing to do?  Would getting some guidance on whether to report the action or activity be a good idea? If the answer to any of these questions is yes, the action or activity could potentially be a violation of our Code and should be reported.

PART 6 98148.2 18 © 2023 Fulton Financial Corporation (d) Resolving actual or suspected Code violations after careful review of the facts and necessary consultation After appropriate investigation, reports of actual or suspected Code violations and waiver requests by any employee other than a director or a Senior Executive Officer shall be reviewed, resolved and a final determination made by the Chief Human Resources Officer or his or her designee in conjunction with the Chief Legal Officer or his or her designee as necessary. After appropriate investigation, reports of actual or suspected Code violations and waiver requests by a director or a Senior Executive Officer shall be reviewed, resolved and a final determination made by the independent directors of the Board of Directors of Fulton Finan- cial Corporation in consultation with the Chief Legal Officer and the Chief Human Resources Officer and/or, if appropriate, outside legal counsel. Related actions taken by the the Senior Executive Officers shall be reported at the next regularly scheduled Fulton Financial Corporation board of directors meeting. Any employee or director who is determined to have violated our Code is subject to a reprimand or further discipline up to and including immediate termination of employment or directorship with Fulton. (e) Continually assessing our adherence to our Code standards The Chief Human Resources Officer shall report on a quarterly basis the number and substance of reported actual or suspected Code violations to the Human Resources Committee, the Nominating and Corporate Governance Committee or Fulton’s Board of Directors, as appropriate. All employees and directors are periodically required to complete Code Training and to complete a Certification of Good Faith Compliance with our Code. (f) Properly disclosing the existence of our Code and any amendments and waivers as required by law 1. Annual disclosure of our Code Fulton’s Annual Report on Form 10-K will disclose the existence of our Code, and Fulton will post a copy of our Code on our web site. This disclosure will also indicate that copies of our Code will be provided free of charge to anyone who requests a copy. A copy of our Code may be obtained by writing to Fulton’s Corporate Secretary at the address provided on the website. 2. Amending our Code Substantive amendments of the provisions of our Code will be promptly reported by the filing of a Form 8-K or posting on Fulton’s Investor Relations page at www.fult.com in accordance with SEC regulations. 3. Waivers of our Code for certain executive officers and directors of Fulton Any waiver or departure from Code compliance by certain executive officers or directors of the holding company will be promptly reported by filing a Form 8-K or posting on Fulton’s Investor Relations page at www.fult.com in accordance with applicable SEC and NASDAQ rules and regulations. A waiver of any Code provision can be either an actual waiver by Fulton or an implicit waiver, which occurs if Fulton fails to take action within a reasonable period of time regarding a material departure from the provisions of our Code that is made known to Fulton’s Chief Audit Executive, Chief Legal Officer or one of the executive officers.

Exhibit 99.1

FULTON FINANCIAL

CORPORATION

FOR IMMEDIATE RELEASE

Media Contact: Lacey Dean (717) 735-8688

Investor Contact: Matt Jozwiak (717) 327-2657

Fulton Financial Corporation Announces Second Quarter 2023 Results

(July 18, 2023) – Lancaster, PA – Fulton Financial Corporation (NASDAQ:FULT) (“Fulton” or the “Corporation”) reported net income available to common shareholders of $77.0 million, or $0.46 per diluted share, for the second quarter of 2023, an increase of $11.3 million, or 17.2%, in comparison to the first quarter of 2023. Operating net income available to common shareholders was $77.8 million, or $0.47 per diluted share(1).

For the six months ended June 30, 2023, net income available to shareholders was $142.8 million, or $0.85 per diluted share, an increase of $13.6 million, or 10.6%, in comparison to the same period in 2022. Operating net income available to common shareholders was $143.9 million, or $0.86 per diluted share(1).

"We were pleased with our second quarter performance and results," said Curtis J. Myers, Chairman and CEO of Fulton. "We saw credit metrics remain stable and credit losses return to historically low levels, strong non-interest income in many areas of our bank, and loan growth was solid and in line with expectations. Despite the challenges around deposit growth and mix the industry is facing, we meaningfully grew both deposit accounts and deposit households during the quarter."

(1) Non-generally accepted accounting principles ("non-GAAP") financial measure. Refer to the calculation on the page titled "Reconciliation of Non-GAAP Measures" at the end of the press release.

Net Interest Income and Balance Sheet

Net interest income for the second quarter of 2023 was $212.9 million, a decrease of $2.7 million in comparison to the first quarter of 2023. The net interest margin for the second quarter of 2023 decreased 13 basis points, to 3.40%, in comparison to 3.53% in the first quarter of 2023.

The linked-quarter decrease in net interest income was primarily due to an increase in the rate on interest-bearing deposits and a shift in funding mix from noninterest-bearing demand deposits to interest-bearing deposits. An increase in the average balance for net loans of $403.1 million and higher loan yields in the second quarter of 2023 primarily contributed to an increase in interest income of $25.1 million to $314.9 million in comparison to $289.8 million in the first quarter of 2023. Interest expense from interest-bearing liabilities for the second quarter of 2023 increased by $27.9 million to $102.1 million in comparison to $74.2 million in the first quarter of 2023. The linked-quarter increase in interest expense in the second quarter of 2023 was primarily due to an increase in the rate on interest-bearing deposits of 63 basis points, a decline of $620.7 million in the average balance of noninterest-bearing deposits and an increase in the average balance for interest-bearing deposits of $1.3 billion in comparison to the first quarter of 2023.

For the second quarter of 2023, net interest income was $212.9 million, an increase of $34.0 million, or 19.0%, in comparison to the second quarter of 2022. Interest income for the second quarter of 2023 increased by $124.6 million to $314.9 million in comparison to $190.3 million in the second quarter of 2022 primarily driven by rising interest rates resulting in increases in interest income from net loans, investment securities and other interest-earning assets of $120.5 million, $1.2 million and $2.9 million, respectively. Increases in the average balances for net loans in the second quarter of 2023 of $2.2 billion, driven in part by the Prudential Bancorp, Inc. ("Prudential Bancorp") acquisition, contributed to the increase in interest income. Interest expense from interest-bearing liabilities for the second quarter of 2023 increased by $90.6 million to $102.1 million in comparison to $11.5 million in the second quarter of 2022 primarily driven by rising interest rates resulting in increases in interest expense from interest-bearing deposits and borrowings and other interest-bearing liabilities of $64.0 million and $26.6 million, respectively. An increase in the average balance for higher rate interest-bearing deposits and borrowings and other interest-bearing liabilities of $1.3 billion and $1.8 billion, respectively, in the second quarter of 2023 in comparison to the second quarter of 2022 also contributed to the increase in interest expense.

Total average interest-earning assets for the second quarter of 2023 were $25.6 billion, an increase of $384.0 million from the first quarter of 2023 primarily driven by the aforementioned increase in average net loans of $403.1 million and an increase in average other interest-earning assets of $36.5 million, partially offset by a decrease in average investment securities of $55.5 million.

Total average interest-earning assets for the second quarter of 2023 increased by $1.6 billion from the second quarter of 2022. Average net loans for the second quarter of 2023 were $20.9 billion, an increase of $2.2 billion from the same period in 2022. Compared to the second quarter of 2022, average other interest-earning assets decreased $421.9 million and average investment securities decreased $164.3 million in the second quarter of 2023.

Total average interest-bearing liabilities increased $1.0 billion, to $18.0 billion, in the second quarter of 2023 in comparison to $17.0 billion in the first quarter of 2023 driven by an increase in the average balance for total interest-bearing deposits of $1.3 billion, partially offset by a decrease in the average balance for borrowings and other interest-bearing liabilities of $0.3 billion.

Total average interest-bearing liabilities for the second quarter of 2023 increased $3.1 billion, to $18.0 billion, in comparison to $14.9 billion in the second quarter of 2022, driven by increases in the average balances for borrowings and other interest-bearing liabilities and total interest-bearing deposits of $1.8 billion and $1.3 billion, respectively.

Asset Quality

In the second quarter of 2023, a provision for credit losses of $9.7 million was recorded in comparison to a provision for credit losses of $24.5 million in the first quarter of 2023, and a provision for credit losses of $1.5 million in the second quarter of 2022. The provision for credit losses of $9.7 million recorded in the second quarter of 2023 was primarily due to loan growth and the macroeconomic outlook.

Non-performing assets were $151.6 million, or 0.55% of total assets, at June 30, 2023, in comparison to $167.9 million, or 0.62% of total assets, at March 31, 2023, and $178.3 million, or 0.71% of total assets, at June 30, 2022.

Net charge-offs for the second quarter of 2023 were 0.04% of total average loans in comparison to 0.27% and negative 0.08% in the first quarter of 2023 and the second quarter of 2022, respectively.

Non-interest Income

Non-interest income before investment securities gains in the second quarter of 2023 was $60.6 million, an increase of $8.9 million, or 17.1%, from the first quarter of 2023. The increase in non-interest income was primarily due to an increase in commercial banking income of $5.6 million, driven by increases in commercial customer interest rate swap fee income, reflected in capital markets, and merchant and card income of $3.6 million and $0.9 million, respectively. In addition, increases from mortgage banking, wealth management, higher income from equity method investments, reflected in other non-interest income, and consumer banking of $1.0 million, $0.6 million, $0.6 million and $0.5 million, respectively, contributed to the increase in non-interest income in the second quarter of 2023.

Compared to the second quarter of 2022, non-interest income before investment securities gains in the second quarter of 2023 increased $2.2 million, or 3.8%, from $58.4 million. The increase in non-interest income was primarily due to increases in commercial customer interest rate swap fee income, reflected in capital markets, and merchant and card income of $2.1 million and $0.3 million, respectively.

Non-interest Expense

Non-interest expense was $168.0 million in the second quarter of 2023, an increase of $8.4 million, or 5.3%, compared to $159.6 million in the first quarter of 2023. The increase was primarily due to increases of $4.8 million in salaries and employee benefits expense, $1.0 million in data processing and software expense and $0.7 million in other outside services expense. Additional contributors to the increase in non-interest expense were increases of $1.3 million in owned real estate and repossession expenses and $0.5 million in state tax expense, in each case, reflected in other expense. The $4.8 million increase in salaries and benefits expense was primarily driven by annual merit increases and one additional calendar day in the quarter.

Compared to the second quarter of 2022, non-interest expense, excluding merger-related expenses of $1.0 million in the second quarter of 2022, increased $19.3 million, or 13.0%. The increase was primarily due to increases of $8.7 million in salaries and employee benefits expense, $2.1 million in other outside services expense, $2.1 million in data processing and software expense, $1.9 million in FDIC insurance expense, primarily due to the adoption of a final rule to increase base deposit insurance assessment rates effective January 1, 2023, $0.9 million in intangible amortization expense and $0.8 million in net occupancy expense. Higher expense levels compared to the second quarter of 2022 are in part due to the Prudential Bancorp acquisition. The $8.7 million increase in salaries and benefits expense was primarily driven by annual merit increases, an increase in the number of employees, employee benefits due to higher claims experience and higher pension costs.

Income Tax Expense

For the second quarter of 2023, the effective tax rate was 16.8%, in comparison to 17.3% for the full-year of 2022.

Additional information on Fulton is available on the Internet at www.fultonbank.com.

Safe Harbor Statement

This press release may contain forward-looking statements with respect to the Corporation’s financial condition, results of operations and business. Do not unduly rely on forward-looking statements. Forward-looking statements can be identified by the use of words such as "may," "should," "will," "could," "estimates," "predicts," "potential," "continue," "anticipates," "believes," "plans," "expects," "future," "intends," “projects,” the negative of these terms and other comparable terminology. These forward-looking statements may include projections of, or guidance on, the Corporation’s future financial performance, expected levels of future expenses, including future credit losses, anticipated growth strategies, descriptions of new business initiatives and anticipated trends in the Corporation’s business or financial results.

Forward-looking statements are neither historical facts, nor assurance of future performance. Instead, the statements are based on current beliefs, expectations and assumptions regarding the future of the Corporation’s business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of the Corporation’s control, and actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not unduly rely on any of these forward-looking statements. Any forward-looking statement is based only on information currently available and speaks only as of the date when made. The Corporation undertakes no obligation, other than as required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

A discussion of certain risks and uncertainties affecting the Corporation, and some of the factors that could cause the Corporation's actual results to differ materially from those described in the forward-looking statements, can be found in the sections entitled "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in the Corporation’s Annual Report on Form 10-K for the year ended December 31, 2022, Quarterly Report on Form 10-Q for the quarter ended March 31, 2023 and other current and periodic reports, which have been, or will be, filed with the Securities and Exchange Commission (the "SEC") and are, or will be, available in the Investor Relations section of the Corporation's website (www.fultonbank.com) and on the SEC's website (www.sec.gov).

Non-GAAP Financial Measures

The Corporation uses certain financial measures in this press release that have been derived from methods other than GAAP. These non-GAAP financial measures are reconciled to the most comparable GAAP measures in tables at the end of this press release.


FULTON FINANCIAL CORPORATION
SUMMARY CONSOLIDATED FINANCIAL INFORMATION (UNAUDITED)
(dollars in thousands, except per share data)
	Three months ended
	Jun 30		Mar 31		Dec 31		Sep 30		Jun 30
	2023		2023		2022		2022		2022
Ending Balances
Investment securities	$	3,867,334	$	3,950,101	$	3,968,023	$	3,936,694	$	4,117,801
Net loans	21,044,685		20,670,188		20,279,547		19,695,199		18,920,950
Total assets	27,403,163		27,112,176		26,931,702		26,146,042		25,252,686
Deposits	21,206,540		21,316,584		20,649,538		21,376,554		21,143,866
Shareholders' equity	2,642,152		2,618,998		2,579,757		2,471,159		2,471,093

Average Balances
Investment securities	3,916,130		3,964,615		3,936,579		4,254,216		4,216,507
Net loans	20,866,235		20,463,096		20,004,513		19,563,825		18,637,175
Total assets	27,235,567		26,900,653		26,386,355		26,357,095		25,578,432
Deposits	21,207,143		20,574,323		21,027,656		21,788,052		21,523,713
Shareholders' equity	2,647,464		2,613,316		2,489,148		2,604,057		2,531,346

Income Statement
Net interest income	212,852		215,587		225,911		215,582		178,831
Provision for credit losses	9,747		24,544		14,513		18,958		1,500
Non-interest income	60,585		51,753		54,321		59,162		58,391
Non-interest expense	168,018		159,616		168,462		169,558		149,730
Income before taxes	95,672		83,180		97,257		86,228		85,992
Net income available to common shareholders	77,045		65,752		79,271		68,309		67,427
Pre-provision net revenue(1)	106,495		108,375		115,049		113,631		89,384

Per Share
Net income available to common shareholders (basic)	$0.46		$0.39		$0.47		$0.41		$0.42
Net income available to common shareholders (diluted)	$0.46		$0.39		$0.47		$0.40		$0.42
Operating net income available to common shareholders(1)	$0.47		$0.39		$0.48		$0.48		$0.42
Cash dividends	$0.16		$0.15		$0.21		$0.15		$0.15
Common shareholders' equity	$14.75		$14.67		$14.24		$13.61		$14.15
Common shareholders' equity (tangible)(1)	$11.36		$11.26		$10.90		$10.26		$10.81
Weighted average shares (basic)	165,854		166,605		167,504		167,353		160,920
Weighted average shares (diluted)	167,191		168,401		169,136		168,781		162,075

(1) Non-GAAP financial measure. Refer to the calculation on the page titled “Reconciliation of Non-GAAP Measures” at the end of this press release.


	Three months ended
	Jun 30		Mar 31		Dec 31		Sep 30		Jun 30
	2023		2023		2022		2022		2022
Asset Quality
Net charge-offs (recoveries) to average loans	0.04	%	0.27	%	0.23	%	0.01	%	(0.08)	%
Non-performing loans to total net loans	0.70	%	0.80	%	0.85	%	0.98	%	0.92	%
Non-performing assets to total assets	0.55	%	0.62	%	0.66	%	0.76	%	0.71	%
ACL - loans(1) to total loans	1.37	%	1.35	%	1.33	%	1.35	%	1.31	%
ACL - loans(1) to non-performing loans	195	%	169	%	157	%	138	%	143	%







Profitability
Return on average assets	1.17	%	1.03	%	1.23	%	1.07	%	1.10	%
Operating return on average assets(2)	1.18	%	1.04	%	1.26	%	1.25	%	1.11	%
Return on average common shareholders' equity	12.59	%	11.02	%	13.70	%	11.24	%	11.57	%

Return on average common shareholders' equity (tangible)(2)	16.52	%	14.46	%	18.59	%	17.31	%	15.23	%
Net interest margin	3.40	%	3.53	%	3.69	%	3.54	%	3.04	%
Efficiency ratio(2)	60.1	%	58.5	%	58.1	%	57.8	%	61.4	%

Non-interest expenses to total average assets	2.47	%	2.41	%	2.53	%	2.55	%	2.35	%
Operating non-interest expenses to total average assets(2)	2.46	%	2.40	%	2.48	%	2.43	%	2.32	%

Capital Ratios
Tangible common equity ratio ("TCE")(2)	7.0	%	7.0	%	6.9	%	6.7	%	7.0	%
TCE ratio, (excluding AOCI)(2)(3)	8.3	%	8.3	%	8.2	%	8.3	%	8.2	%
Tier 1 leverage ratio(4)	9.3	%	9.2	%	9.5	%	9.2	%	9.1	%
Common equity Tier 1 capital ratio(4)	10.1	%	9.8	%	10.0	%	10.0	%	9.9	%
Tier 1 risk-based capital ratio(4)	10.9	%	10.6	%	10.9	%	10.9	%	10.8	%
Total risk-based capital ratio(4)	13.7	%	13.4	%	13.6	%	13.6	%	13.7	%

(1) "ACL - loans" relates to the allowance for credit losses ("ACL") specifically on "Net Loans" and does not include the ACL related to off-balance-sheet ("OBS") credit exposures.

(2) Non-GAAP financial measure. Refer to the calculation on the page titled "Reconciliation of Non-GAAP Measures" at the end of this press release.

(3) Tangible common equity ("TCE") ratio, excluding accumulated other comprehensive income ("AOCI").
(4) Regulatory capital ratios as of June 30, 2023 are preliminary and prior periods are actual.


FULTON FINANCIAL CORPORATION
CONDENSED CONSOLIDATED ENDING BALANCE SHEETS (UNAUDITED)
(dollars in thousands)

		Jun 30		Mar 31		Dec 31		Sep 30		Jun 30
		2023		2023		2022		2022		2022
ASSETS
	Cash and due from banks	$	123,779	$	129,003	$	126,898	$	143,465	$	158,605
	Other interest-earning assets	505,141		545,355		685,209		467,164		383,715
	Loans held for sale	14,673		6,507		7,264		14,411		17,528
	Investment securities	3,867,334		3,950,101		3,968,023		3,936,694		4,117,801
	Net loans	21,044,685		20,670,188		20,279,547		19,695,199		18,920,950
	Less: ACL - loans(1)	(287,442)		(278,695)		(269,366)		(266,838)		(248,564)
	Loans, net	20,757,243		20,391,493		20,010,181		19,428,361		18,672,386
	Net premises and equipment	216,322		216,059		225,141		221,496		211,639
	Accrued interest receivable	96,991		90,267		91,579		72,821		64,457
	Goodwill and intangible assets	561,885		563,502		560,824		561,495		537,700
	Other assets	1,259,795		1,219,889		1,256,583		1,300,135		1,088,855
	Total Assets	$	27,403,163	$	27,112,176	$	26,931,702	$	26,146,042	$	25,252,686
LIABILITIES AND SHAREHOLDERS' EQUITY
	Deposits	$	21,206,540	$	21,316,584	$	20,649,538	$	21,376,554	$	21,143,866
	Borrowings	2,719,114		2,446,770		2,871,207		1,424,681		1,013,315
	Other liabilities	835,357		729,824		831,200		873,648		624,412
	Total Liabilities	24,761,011		24,493,178		24,351,945		23,674,883		22,781,593
	Shareholders' equity	2,642,152		2,618,998		2,579,757		2,471,159		2,471,093
	Total Liabilities and Shareholders' Equity	$	27,403,163	$	27,112,176	$	26,931,702	$	26,146,042	$	25,252,686

LOANS, DEPOSITS AND BORROWINGS DETAIL:
Loans, by type:
	Real estate - commercial mortgage	$	7,846,861	$	7,746,920	$	7,693,835	$	7,554,509	$	7,417,036
	Commercial and industrial	4,599,759		4,596,096		4,473,004		4,240,865		4,170,975
	Real estate - residential mortgage	5,147,262		4,880,919		4,737,279		4,574,228		4,203,827
	Real estate - home equity	1,061,891		1,074,712		1,102,838		1,110,103		1,108,808
	Real estate - construction	1,308,564		1,326,754		1,269,925		1,273,097		1,177,446
	Consumer	763,530		730,775		699,179		633,666		538,747
	Leases and other loans(2)	316,818		314,012		303,487		308,731		304,111
	Total Net Loans	$	21,044,685	$	20,670,188	$	20,279,547	$	19,695,199	$	18,920,950
Deposits, by type:
	Noninterest-bearing demand	$	5,865,855	$	6,403,484	$	7,006,388	$	7,372,896	$	7,530,777
	Interest-bearing demand	5,543,320		5,478,237		5,410,903		5,676,600		5,403,805
	Savings	6,646,448		6,579,806		6,434,621		6,563,003		6,406,051
	Total demand and savings	18,055,623		18,461,527		18,851,912		19,612,499		19,340,633
	Brokered	949,259		960,919		208,416		226,883		243,172
	Time	2,201,658		1,894,138		1,589,210		1,537,172		1,560,061
	Total Deposits	$	21,206,540	$	21,316,584	$	20,649,538	$	21,376,554	$	21,143,866
Borrowings, by type:
	Federal funds purchased	$	555,000	$	525,000	$	191,000	$	136,000	$	20,000
	Federal Home Loan Bank advances	1,165,000		747,000		1,250,000		265,500		—
	Senior debt and subordinated debt	539,994		539,814		539,634		539,461		555,748
	Other borrowings	459,120		634,956		890,573		483,720		437,567
	Total Borrowings	$	2,719,114	$	2,446,770	$	2,871,207	$	1,424,681	$	1,013,315


(1) "ACL - loans" relates to the ACL specifically on "Net Loans" and does not include the ACL related to OBS credit exposures.
(2) Includes equipment lease financing, overdraft and net origination fees and costs.


FULTON FINANCIAL CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)
(dollars in thousands, except per share)
		Three Months Ended										Six months ended
		Jun 30		Mar 31		Dec 31		Sep 30		Jun 30		Jun 30
		2023		2023		2022		2022		2022		2023		2022
Interest Income:
	Interest income	$	314,912	$	289,820	$	267,847	$	233,691	$	190,299	$	604,732	$	363,300
	Interest expense	102,060		74,233		41,936		18,109		11,468		176,293		23,159
	Net Interest Income	212,852		215,587		225,911		215,582		178,831		428,439		340,141
	Provision for credit losses	9,747		24,544		14,513		18,958		1,500		34,291		(5,450)
	Net Interest Income after Provision	203,105		191,043		211,398		196,624		177,331		394,148		345,591
Non-Interest Income:
	Wealth management	18,678		18,062		17,531		17,610		18,274		36,740		37,702
	Commercial banking:
	Merchant and card	7,700		6,834		7,223		7,601		7,355		14,534		13,452
	Cash management	5,835		5,515		5,756		6,483		6,062		11,350		11,490
	Capital markets	6,092		2,344		2,627		4,060		3,893		8,436		5,569
	Other commercial banking	3,518		2,820		2,998		2,664		3,049		6,338		5,856
	Total commercial banking	23,145		17,513		18,604		20,808		20,359		40,658		36,367
	Consumer banking:
	Card	6,592		6,243		6,331		6,278		6,067		12,835		11,863
	Overdraft	2,696		2,733		3,364		4,463		3,881		5,429		7,653
	Other consumer banking	2,432		2,241		2,380		2,534		2,524		4,673		4,630
	Total consumer banking	11,720		11,217		12,075		13,275		12,472		22,937		24,146
	Mortgage banking	2,940		1,970		2,140		3,720		3,768		4,910		8,344
	Other	4,106		2,968		3,972		3,802		3,510		7,075		7,061
	Non-interest income before investment securities gains (losses)	60,589		51,730		54,322		59,215		58,383		112,320		113,620
	Investment securities gains (losses), net	(4)		23		(1)		(53)		8		19		27
	Total Non-Interest Income	60,585		51,753		54,321		59,162		58,391		112,339		113,647
Non-Interest Expense:
	Salaries and employee benefits	94,102		89,283		92,733		94,283		85,404		183,385		169,868
	Data processing and software	16,776		15,796		15,448		15,807		14,685		32,571		29,000
	Net occupancy	14,374		14,438		14,061		14,025		13,587		28,812		28,109
	Other outside services	10,834		10,126		10,860		9,361		8,764		20,960		16,931
	FDIC insurance	4,895		4,795		3,219		3,158		2,961		9,690		6,170
	Equipment	3,530		3,389		3,640		3,548		3,422		6,920		6,845
	Professional fees	1,829		2,392		2,945		2,373		2,013		4,221		3,805
	Marketing	1,655		1,886		2,380		1,859		1,326		3,541		2,646
	Intangible amortization	1,072		674		688		690		177		1,746		353

	Merger-related expenses	—		—		1,894		7,006		1,027		—		1,428
	Other	18,951		16,837		20,594		17,448		16,364		35,790		30,553
	Total Non-Interest Expense	168,018		159,616		168,462		169,558		149,730		327,636		295,708
	Income Before Income Taxes	95,672		83,180		97,257		86,228		85,992		178,851		163,530
	Income tax expense	16,065		14,866		15,424		15,357		16,003		30,931		29,253
	Net Income	79,607		68,314		81,833		70,871		69,989		147,920		134,277
	Preferred stock dividends	(2,562)		(2,562)		(2,562)		(2,562)		(2,562)		(5,124)		(5,124)
	Net Income Available to Common Shareholders	$	77,045	$	65,752	$	79,271	$	68,309	$	67,427	$	142,796	$	129,153


		Three Months Ended					Six Months Ended
		Jun 30	Mar 31	Dec 31	Sep 30	Jun 30	Jun 30
		2023	2023	2022	2022	2022	2023	2022
PER SHARE:
	Net income available to common shareholders:
	Basic	$0.46	$0.39	$0.47	$0.41	$0.42	$0.86	$0.80
	Diluted	$0.46	$0.39	$0.47	$0.40	$0.42	$0.85	$0.80
	Cash dividends	$0.16	$0.15	$0.21	$0.15	$0.15	$0.31	$0.30

	Weighted average shares (basic)	165,854	166,605	167,504	167,353	160,920	166,227	160,755
	Weighted average shares (diluted)	167,191	168,401	169,136	168,781	162,075	167,809	162,015


FULTON FINANCIAL CORPORATION
CONDENSED CONSOLIDATED AVERAGE BALANCE SHEET ANALYSIS (UNAUDITED)
(dollars in thousands)
		Three months ended
		June 30, 2023						March 31, 2023						June 30, 2022
		Average				Yield/		Average				Yield/		Average				Yield/
		Balance		Interest(1)		Rate		Balance		Interest(1)		Rate		Balance		Interest(1)		Rate
ASSETS

Interest-earning assets:
	Net loans	$	20,866,235	$	287,154	5.52	%	$	20,463,096	$	263,065	5.21	%	$	18,637,175	$	165,682	3.56	%
	Investment securities(2)	4,234,096		27,303		2.57	%	4,289,643		27,522		2.60	%	4,398,424		26,061		2.37	%
	Other interest-earning assets	529,582		4,860		3.68	%	493,130		3,648		3.00	%	951,504		1,983		0.83	%
	Total Interest-Earning Assets	25,629,913		319,317		4.99	%	25,245,869		294,235		4.73	%	23,987,103		193,726		3.24	%

Noninterest-Earning assets:
	Cash and due from banks	129,682						141,254						160,240
	Premises and equipment	216,847						223,025						216,798
	Other assets	1,541,657						1,563,806						1,463,332
	Less: ACL - loans(3)	(282,532)						(273,301)						(249,041)
	Total Assets	$	27,235,567					$	26,900,653					$	25,578,432

LIABILITIES AND SHAREHOLDERS' EQUITY

Interest-Bearing liabilities:
	Demand deposits	$	5,535,669	$	14,612	1.06	%	$	5,326,566	$	8,455	0.64	%	$	5,597,975	$	797	0.06	%
	Savings deposits	6,632,572		29,289		1.77	%	6,469,468		20,535		1.29	%	6,425,634		1,125		0.07	%
	Brokered deposits	954,773		12,135		5.10	%	439,670		5,173		4.77	%	244,200		619		1.02	%
	Time deposits	2,063,038		13,763		2.68	%	1,696,878		7,458		1.78	%	1,608,286		3,255		0.81	%
	Total Interest-Bearing Deposits	15,186,052		69,799		1.84	%	13,932,582		41,621		1.21	%	13,876,095		5,796		0.17	%

	Borrowings and other interest-bearing liabilities	2,790,860		32,261		4.60	%	3,058,684		32,613		4.32	%	1,003,830		5,672		2.27	%
	Total Interest-Bearing Liabilities	17,976,912		102,060		2.27	%	16,991,266		74,234		1.78	%	14,879,925		11,468		0.31	%

Noninterest-Bearing liabilities:
	Demand deposits	6,021,091						6,641,741						7,647,618
	Other noninterest-bearing liabilities	590,100						654,330						519,543
	Total Liabilities	24,588,103						24,287,337						23,047,086
	Total Deposits/Cost of Deposits	21,207,143				1.32	%	20,574,323				0.82	%	21,523,713				0.11	%
	Total interest-bearing liabilities and non-interest bearing deposits ("Cost of Funds")	23,998,003				1.70	%	23,633,007				1.27	%	22,527,543				0.20	%

	Shareholders' equity	2,647,464						2,613,316						2,531,346
	Total Liabilities and Shareholders' Equity	$	27,235,567					$	26,900,653					$	25,578,432

	Net interest income/net interest margin (fully taxable equivalent)			217,257		3.40	%			220,001		3.53	%			182,258		3.04	%
	Tax equivalent adjustment			(4,405)						(4,414)						(3,427)
	Net Interest Income			$	212,852					$	215,587					$	178,831

	(1) Presented on a fully taxable-equivalent basis using a 21% federal tax rate and statutory interest expense disallowances.
	(2) Balances include amortized historical cost for available for sale ("AFS") securities. The related unrealized holding gains (losses) are included in other assets.
	(3) "ACL - loans" relates to the ACL specifically on "Net Loans" and does not include the ACL related to OBS credit exposures.


FULTON FINANCIAL CORPORATION
AVERAGE LOANS, DEPOSITS AND BORROWINGS DETAIL (UNAUDITED):
(dollars in thousands)
		Three months ended
		Jun 30		Mar 31		Dec 31		Sep 30		Jun 30
		2023		2023		2022		2022		2022
Loans, by type:
	Real estate - commercial mortgage	$	7,775,436	$	7,720,975	$	7,696,997	$	7,566,259	$	7,340,417
	Commercial and industrial	4,629,919		4,565,923		4,372,935		4,250,573		4,155,436
	Real estate - residential mortgage	5,008,295		4,790,868		4,643,784		4,485,649		4,052,666
	Real estate - home equity	1,066,615		1,086,032		1,106,325		1,099,487		1,118,494
	Real estate - construction	1,306,286		1,276,145		1,209,998		1,268,590		1,188,932
	Consumer	763,407		721,248		679,108		604,634		485,095
	Leases and other loans(1)	316,277		301,905		295,366		288,633		296,135




	Total Net Loans	$	20,866,235	$	20,463,096	$	20,004,513	$	19,563,825	$	18,637,175

Deposits, by type:
	Noninterest-bearing demand	$	6,021,091	$	6,641,741	$	7,310,824	$	7,535,791	$	7,647,618
	Interest-bearing demand	5,535,669		5,326,566		5,479,443		5,708,059		5,597,975
	Savings	6,632,572		6,469,468		6,466,775		6,681,713		6,425,634
	Total demand and savings	18,189,332		18,437,775		19,257,042		19,925,563		19,671,227
	Brokered	954,773		439,670		215,729		247,105		244,200
	Time	2,063,038		1,696,878		1,554,885		1,615,384		1,608,286
	Total Deposits	$	21,207,143	$	20,574,323	$	21,027,656	$	21,788,052	$	21,523,713

Borrowings, by type:
	Federal funds purchased	$	679,401	$	505,142	$	261,737	$	96,965	$	2,857
	Federal Home Loan Bank advances	880,811		1,261,589		564,692		206,152		—
	Senior debt and subordinated debt	539,906		539,726		539,550		554,735		555,701
	Other borrowings and other interest-bearing liabilities	690,742		752,227		659,543		501,496		445,261
	Total Borrowings	$	2,790,860	$	3,058,684	$	2,025,522	$	1,359,348	$	1,003,819


(1) Includes equipment lease financing, overdraft and net origination fees and costs.


FULTON FINANCIAL CORPORATION
CONDENSED CONSOLIDATED AVERAGE BALANCE SHEET ANALYSIS (UNAUDITED)
(dollars in thousands)
		Six months ended June 30
		2023						2022
		Average				Yield/		Average				Yield/
		Balance		Interest(1)		Rate		Balance		Interest(1)		Rate
ASSETS

Interest-earning assets:
	Net loans	$	20,665,779	$	550,219	5.36	%	$	18,510,845	$	316,809	3.44	%
	Investment securities(2)	4,261,718		54,824		2.57	%	4,312,867		50,312		2.33	%
	Other interest-earning assets	511,456		8,508		3.34	%	1,118,188		2,895		0.52	%
	Total Interest-Earning Assets	25,438,953		613,551		4.85	%	23,941,900		370,016		3.11	%

Noninterest-Earning assets:
	Cash and due from banks	135,436						161,274
	Premises and equipment	219,920						218,357
	Other assets	1,552,669						1,528,820
	Less: ACL - loans(3)	(277,942)						(250,026)
	Total Assets	$	27,069,036					$	25,600,325

LIABILITIES AND SHAREHOLDERS' EQUITY

Interest-Bearing liabilities:
	Demand deposits	$	5,431,696	$	23,067	0.86	%	$	5,631,296	$	1,525	0.06	%
	Savings deposits	6,551,470		49,824		1.53	%	6,431,060		2,146		0.07	%
	Brokered deposits	698,644		17,308		5.00	%	247,258		835		0.68	%
	Time deposits	1,880,970		21,221		2.28	%	1,652,430		6,895		0.84	%
	Total Interest-Bearing Deposits	14,562,780		111,420		1.54	%	13,962,044		11,401		0.16	%

	Borrowings and other interest-bearing liabilities	2,928,819		64,873		4.43	%	1,018,740		11,758		2.31	%
	Total Interest-Bearing Liabilities	17,491,599		176,293		2.03	%	14,980,784		23,159		0.31	%

Noninterest-Bearing liabilities:
	Demand deposits	6,329,701						7,540,025
	Other	617,252						469,861
	Total Liabilities	24,438,552						22,990,670
	Total Deposits/Cost of Deposits	20,892,481				1.08	%	21,502,069				0.11	%
	Total interest-bearing liabilities and non-interest bearing deposits ("Cost of Funds")	23,821,300				1.49	%	22,520,809				0.21	%

	Shareholders' equity	2,630,484						2,609,655
	Total Liabilities and Shareholders' Equity	$	27,069,036					$	25,600,325

	Net interest income/net interest margin (fully taxable equivalent)			437,258		3.46	%			346,857		2.91	%
	Tax equivalent adjustment			(8,819)						(6,716)
	Net Interest Income			$	428,439					$	340,141

	(1) Presented on a fully taxable-equivalent basis using a 21% federal tax rate and statutory interest expense disallowances.
	(2) Balances include amortized historical cost for AFS. The related unrealized holding gains (losses) are included in other assets.
	(3) "ACL - loans" relates to the ACL specifically on "Net Loans" and does not include the ACL related to OBS credit exposures.


FULTON FINANCIAL CORPORATION
AVERAGE LOANS, DEPOSITS AND BORROWINGS DETAIL (UNAUDITED):
(dollars in thousands)

		Six months ended June 30
		2023		2022
Loans, by type:
	Real estate - commercial mortgage	$	7,748,356	$	7,318,422
	Commercial and industrial	4,598,097		4,185,883
	Real estate - residential mortgage	4,900,182		3,970,877
	Real estate - home equity	1,076,270		1,125,257
	Real estate - construction	1,291,299		1,164,785
	Consumer	742,445		461,159
	Leases and other loans(1)	309,130		284,462
	Total Net Loans	$	20,665,779	$	18,510,845

Deposits, by type:
	Noninterest-bearing demand	$	6,329,701	$	7,540,025
	Interest-bearing demand	5,431,696		5,631,296
	Savings	6,551,470		6,431,060
	Total demand and savings	18,312,867		19,602,381
	Brokered	698,644		247,258
	Time	1,880,970		1,652,430
	Total Deposits	$	20,892,481	$	21,502,069

Borrowings, by type:
	Federal funds purchased	$	592,753	$	1,436
	Federal Home Loan Bank advances	1,070,148		6
	Senior debt and subordinated debt	539,817		582,184
	Other borrowings	726,101		435,114
	Total Borrowings	$	2,928,819	$	1,018,740

N/M - Not meaningful
(1) Includes equipment lease financing, overdraft and net origination fees and costs.


FULTON FINANCIAL CORPORATION
ASSET QUALITY INFORMATION (UNAUDITED)
(dollars in thousands)
		Three months ended															Six Months Ended
		Jun 30			Mar 31			Dec 31			Sep 30			Jun 30			Jun 30			Jun 30
		2023			2023			2022			2022			2022			2023			2022
Allowance for credit losses related to net loans:
Balance at beginning of period		$	278,695		$	269,366		$	266,838		$	248,564		$	243,705		$	269,366		$	249,001

	CECL Day 1 provision expense	—			—			—			7,954			—			—			—

	Initial purchased credit deteriorated loans	—			—			—			1,135			—			—			—

	Loans charged off:
	Real estate - commercial mortgage	(230)			(13,362)			(12,235)			(86)			—			(13,592)			(152)
	Commercial and industrial	(2,017)			(612)			(179)			(1,783)			(201)			(2,629)			(428)
	Real estate - residential mortgage	(62)			—			—			—			(66)			(62)			(66)
	Consumer and home equity	(1,313)			(2,206)			(1,311)			(1,172)			(877)			(3,519)			(1,929)
	Real estate - construction	—			—			—			—			—			—			—
	Leases and other loans(1)	(1,165)			(723)			(505)			(683)			(474)			(1,888)			(943)
	Total loans charged off	(4,787)			(16,903)			(14,230)			(3,724)			(1,618)			(21,690)			(3,518)
Recoveries of loans previously charged off:
	Real estate - commercial mortgage	29			786			183			29			3,536			815			3,648
	Commercial and industrial	988			1,086			961			2,213			739			2,074			2,719
	Real estate - residential mortgage	58			48			10			101			92			106			314
	Consumer and home equity	959			661			683			682			762			1,620			1,216
	Real estate - construction	569			202			530			—			12			771			44
	Leases and other loans(1)	213			116			132			247			226			329			380
	Recoveries of loans previously charged off	2,816			2,899			2,499			3,272			5,367			5,715			8,321
Net loans recovered (charged off)		(1,971)			(14,004)			(11,731)			(452)			3,749			(15,975)			4,803
Provision for credit losses		10,718			23,333			14,259			9,637			1,110			34,051			(5,240)
Balance at end of period		$	287,442		$	278,695		$	269,366		$	266,838		$	248,564		$	287,442		$	248,564
Net (recoveries) charge-offs to average loans		0.04		%	0.27		%	0.23		%	0.01		%	(0.08)		%	0.15		%	(0.05)		%

Provision for credit losses related to OBS Credit Exposures


	Provision for credit losses	$	(971)		$	1,211		$	254		$	1,367		$	390



NON-PERFORMING ASSETS:
	Non-accrual loans	$	123,280		$	134,303		$	144,443		$	178,204		$	162,530
	Loans 90 days past due and accruing	24,415			30,336			27,463			14,559			11,016
	Total non-performing loans	147,695			164,639			171,906			192,763			173,546
	Other real estate owned	3,881			3,304			5,790			5,877			4,786
	Total non-performing assets	$	151,576		$	167,943		$	177,696		$	198,640		$	178,332

NON-PERFORMING LOANS, BY TYPE:
	Real estate - commercial mortgage	$	55,048		$	61,322		$	72,634		$	96,281		$	59,940
	Commercial and industrial	30,588			33,555			28,288			29,831			44,713
	Real estate - residential mortgage	39,157			46,576			46,509			41,597			42,922
	Consumer and home equity	10,469			8,983			9,800			10,016			10,552
	Real estate - construction	1,099			1,509			1,368			1,456			1,357
	Leases and other loans(1)	11,334			12,694			13,307			13,582			14,062
	Total non-performing loans	$	147,695		$	164,639		$	171,906		$	192,763		$	173,546

(1) Includes equipment lease financing, overdraft and net origination fees and costs.


FULTON FINANCIAL CORPORATION
RECONCILIATION OF NON-GAAP MEASURES (UNAUDITED)
(dollars in thousands, except per share data)

Explanatory note:	This press release contains supplemental financial information, as detailed below, that has been derived by methods other than generally accepted accounting principles ("GAAP"). The Corporation has presented these non-GAAP financial measures because it believes that these measures provide useful and comparative information to assess trends in the Corporation's results of operations. Presentation of these non-GAAP financial measures is consistent with how the Corporation evaluates its performance internally and these non-GAAP financial measures are frequently used by securities analysts, investors and other interested parties in the evaluation of companies in the Corporation's industry. Management believes that these non-GAAP financial measures, in addition to GAAP measures, are also useful to investors to evaluate the Corporation's results. Investors should recognize that the Corporation's presentation of these non-GAAP financial measures might not be comparable to similarly-titled measures of other companies. These non-GAAP financial measures should not be considered a substitute for GAAP basis measures, and the Corporation strongly encourages a review of its condensed consolidated financial statements in their entirety. Reconciliations of these non-GAAP financial measures to the most directly comparable GAAP measure follow:
		Three months ended
		Jun 30		Mar 31		Dec 31		Sep 30		Jun 30
		2023		2023		2022		2022		2022
Operating net income available to common shareholders
Net income available to common shareholders		$	77,045	$	65,752	$	79,271	$	68,309	$	67,427
Plus: Core deposit intangible amortization		912		514		514		514		—
Plus: Merger-related expenses		—		—		1,894		7,006		1,027
Plus: CECL Day 1 Provision expense		—		—		—		7,954		—
Less: Tax impact of adjustments		(192)		(108)		(506)		(3,250)		(216)
Operating net income available to common shareholders (numerator)		$	77,765	$	66,158	$	81,173	$	80,533	$	68,238

Weighted average shares (diluted) (denominator)		167,191		168,401		169,136		168,781		162,075

Operating net income available to common shareholders, per share (diluted)		$	0.47	$	0.39	$	0.48	$	0.48	$	0.42

Common shareholders' equity (tangible), per share
Shareholders' equity		$	2,642,152	$	2,618,998	$	2,579,757	$	2,471,159	$	2,471,093
Less: Preferred stock		(192,878)		(192,878)		(192,878)		(192,878)		(192,878)
Less: Goodwill and intangible assets		(561,885)		(563,502)		(560,824)		(561,495)		(537,700)
Tangible common shareholders' equity (numerator)		$	1,887,389	$	1,862,618	$	1,826,055	$	1,716,786	$	1,740,515

Shares outstanding, end of period (denominator)		166,097		165,396		167,599		167,399		161,057

Common shareholders' equity (tangible), per share		$	11.36	$	11.26	$	10.90	$	10.26	$	10.81

Operating return on average assets
Net income		$	79,607	$	68,314	$	81,833	$	70,871	$	69,989
Plus: Core deposit intangible amortization		912		514		514		514		—
Plus: Merger-related expenses		—		—		1,894		7,006		1,027
Plus: CECL Day 1 Provision expense		—		—		—		7,954		—
Less: Tax impact of adjustments		(192)		(108)		(506)		(3,250)		(216)
Operating net income (numerator)		$	80,327	$	68,720	$	83,735	$	83,095	$	70,800

Total average assets (denominator)		$	27,235,567	$	26,900,653	$	26,386,355	$	26,357,095	$	25,578,432

Operating return on average assets		1.18%		1.04%		1.26%		1.25%		1.11%














Return on average common shareholders' equity (tangible)
Net income available to common shareholders		$	77,045	$	65,752	$	79,271	$	68,309	$	67,427
Plus: Intangible amortization		1,072		674		688		690		177
Plus: Merger-related expenses		—		—		1,894		7,006		1,027
Plus: CECL Day 1 Provision expense		—		—		—		7,954		—
Less: Tax impact of adjustments		(225)		(142)		(542)		(3,287)		(253)
Operating net income available to common shareholders (numerator)		$	77,892	$	66,284	$	81,311	$	80,672	$	68,378

Average shareholders' equity		$	2,647,464	$	2,613,316	$	2,489,148	$	2,604,057	$	2,531,346
Less: Average preferred stock		(192,878)		(192,878)		(192,878)		(192,878)		(192,878)
Less: Average goodwill and intangible assets		(563,146)		(561,744)		(561,219)		(562,285)		(537,786)
Average tangible common shareholders' equity (denominator)		$	1,891,440	$	1,858,694	$	1,735,051	$	1,848,894	$	1,800,682

Return on average common shareholders' equity (tangible)		16.52%		14.46%		18.59%		17.31%		15.23%



	Three months ended
	Jun 30		Mar 31		Dec 31		Sep 30		Jun 30
	2023		2023		2022		2022		2022
Tangible common equity to tangible assets (TCE Ratio)
Shareholders' equity	$	2,642,152	$	2,618,998	$	2,579,757	$	2,471,159	$	2,471,093
Less: Preferred stock	(192,878)		(192,878)		(192,878)		(192,878)		(192,878)
Less: Goodwill and intangible assets	(561,885)		(563,502)		(560,824)		(561,495)		(537,700)
Tangible common shareholders' equity (numerator)	$	1,887,389	$	1,862,618	$	1,826,055	$	1,716,786	$	1,740,515

Total assets	$	27,403,163	$	27,112,176	$	26,931,702	$	26,146,042	$	25,252,686
Less: Goodwill and intangible assets	(561,885)		(563,502)		(560,824)		(561,495)		(537,700)
Total tangible assets (denominator)	$	26,841,278	$	26,548,674	$	26,370,878	$	25,584,547	$	24,714,986

Tangible common equity to tangible assets	7.03%		7.02%		6.92%		6.71%		7.04%

Tangible common equity to tangible assets (TCE Ratio) excluding AOCI
Shareholders' equity	$	2,642,152	$	2,618,998	$	2,579,757	$	2,471,159	$	2,471,093
Less: Preferred stock	(192,878)		(192,878)		(192,878)		(192,878)		(192,878)
Less: Accumulated other comprehensive (income) loss	379,286		350,992		385,476		442,947		304,210
Less: Goodwill and intangible assets	(561,885)		(563,502)		(560,824)		(561,495)		(537,700)
Tangible common shareholders' equity (numerator)	$	2,266,675	$	2,213,610	$	2,211,531	$	2,159,733	$	2,044,725

Total assets	$	27,403,163	$	27,112,176	$	26,931,702	$	26,146,042	$	25,252,686
Less: Goodwill and intangible assets	(561,885)		(563,502)		(560,824)		(561,495)		(537,700)
Plus: AOCI - unrealized losses/(gains) on AFS investments securities	311,813		282,092		632,456		368,196		249,424
Total tangible assets (denominator)	$	27,153,091	$	26,830,766	$	27,003,334	$	25,952,743	$	24,964,410

Tangible common equity to tangible assets, excluding AOCI	8.35%		8.25%		8.19%		8.32%		8.19%

Efficiency ratio
Non-interest expense	$	168,018	$	159,616	$	168,462	$	169,558	$	149,730
Less: Amortization of tax credit investments	—		—		(696)		(696)		(696)
Less: Merger-related expenses	—		—		(1,894)		(7,006)		(1,027)
Less: Intangible amortization	(1,072)		(674)		(688)		(690)		(177)

Non-interest expense (numerator)	$	166,946	$	158,942	$	165,184	$	161,166	$	147,830

Net interest income	$	212,852	$	215,587	$	225,911	$	215,582	$	178,831
Tax equivalent adjustment	4,405		4,414		4,310		3,970		3,427
Plus: Total non-interest income	60,585		51,753		54,321		59,162		58,391
Less: Investment securities (gains) losses, net	4		(23)		1		53		(8)
Total revenue (denominator)	$	277,846	$	271,731	$	284,543	$	278,767	$	240,641

Efficiency ratio	60.1%		58.5%		58.1%		57.8%		61.4%


























Operating non-interest expenses to total average assets
Non-interest expense	$	168,018	$	159,616	$	168,462	$	169,558	$	149,730
Less: Amortization of tax credit investments	—		—		(696)		(696)		(696)
Less: Intangible amortization	(1,072)		(674)		(688)		(690)		(177)
Less: Merger-related expenses	—		—		(1,894)		(7,006)		(1,027)

Non-interest expense (numerator)	$	166,946	$	158,942	$	165,184	$	161,166	$	147,830

Total average assets (denominator)	$	27,235,567	$	26,900,653	$	26,386,355	$	26,357,095	$	25,578,432

Operating non-interest expenses to total average assets	2.46%		2.40%		2.48%		2.43%		2.32%




	Three months ended
	Jun 30		Mar 31		Dec 31		Sep 30		Jun 30
	2023		2023		2022		2022		2022


























Pre-provision net revenue
Net interest income	$	212,852	$	215,587	$	225,911	$	215,582	$	178,831
Non-interest income	60,585		51,753		54,321		59,162		58,391
Less: Investment securities (gains) losses, net	4		(23)		1		53		(8)
Total revenue	$	273,441	$	267,317	$	280,233	$	274,797	$	237,214

Non-interest expense	$	168,018	$	159,616	$	168,462	$	169,558	$	149,730
Less: Amortization on tax credit investments	—		—		(696)		(696)		(696)
Less: Merger-related expenses	—		—		(1,894)		(7,006)		(1,027)
Less: Intangible amortization	(1,072)		(674)		(688)		(690)		(177)

Total non-interest expense	$	166,946	$	158,942	$	165,184	$	161,166	$	147,830

Pre-provision net revenue	$	106,495	$	108,375	$	115,049	$	113,631	$	89,384

	Six months ended June 30,
	2023		2022
Operating net income available to common shareholders
Net income available to common shareholders	$	142,796	$	129,153
Plus: Core deposit intangible amortization	1,426		—
Plus: Merger-related expenses	—		1,428
Plus: CECL Day 1 Provision expense	—		—
Less: Tax impact of adjustments	(299)		(300)
Operating net income available to common shareholders (numerator)	$	143,923	$	130,281

Weighted average shares (diluted) (denominator)	167,809		162,015

Operating net income available to common shareholders, per share (diluted)	$	0.86	$	0.80

Note: numbers in this report may not sum due to rounding.

SECOND QUARTER 2023 RESULTS NASDAQ: FULT Data as of or for the period ended June 30, 2023 unless otherwise noted

This presentation may contain forward-looking statements with respect to the Corporation’s financial condition, results of operations and business. Do not unduly rely on forward-looking statements. Forward-looking statements can be identified by the use of words such as "may," "should," "will," "could," "estimates," "predicts," "potential," "continue," "anticipates," "believes," "plans," "expects," "future," "intends," “projects,” the negative of these terms and other comparable terminology. These forward-looking statements may include projections of, or guidance on, the Corporation’s future financial performance, expected levels of future expenses, including future credit losses, anticipated growth strategies, descriptions of new business initiatives and anticipated trends in the Corporation’s business or financial results. Management’s "2023 Outlook "contained herein is comprised of forward-looking statements. Forward-looking statements are neither historical facts, nor assurance of future performance. Instead, the statements are based on current beliefs, expectations and assumptions regarding the future of the Corporation’s business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of the Corporation’s control, and actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not unduly rely on any of these forward-looking statements. Any forward-looking statement is based only on information currently available and speaks only as of the date when made. The Corporation undertakes no obligation, other than as required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. A discussion of certain risks and uncertainties affecting the Corporation, and some of the factors that could cause the Corporation’s actual results to differ materially from those described in the forward-looking statements, can be found in the sections entitled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in the Corporation’s Annual Report on Form 10-K for the year ended December 31, 2022, Quarterly Report on Form 10-Q for the quarter ended March 31, 2023 and other current and periodic reports, which have been, or will be, filed with the Securities and Exchange Commission (the "SEC") and are, or will be, available in the Investor Relations section of the Corporation’s website (www.fultonbank.com) and on the SEC’s website (www.sec.gov). The Corporation uses certain financial measures in this presentation that have been derived by methods other than generally accepted accounting principles ("GAAP"). These non-GAAP financial measures are reconciled to the most comparable GAAP measures at the end of this presentation. FORWARD-LOOKING STATEMENTS 2

A GRANULAR, TENURED AND DIVERSIFIED DEPOSIT PORTFOLIO 3

THE OFFICE PORTFOLIO IS GRANULAR, DIVERSIFIED, AND TENURED 5

(1) Non-GAAP financial measure. Please refer to the calculation and management’s reasons for using this measure on the slide titled “Non-GAAP Reconciliation” at the end of this presentation. INCOME STATEMENT SUMMARY 6 2Q23 1Q23 2Q22 (dollars in thousands, except per-share data) Net interest income $212,852 $215,587 $178,831 Provision for credit losses 9,747 24,544 1,500 Non-interest income 60,589 51,730 58,383 Securities gains (losses) (4) 23 8 Non-interest expense 168,018 159,616 148,703 Merger-related expenses — — 1,027 Income before income taxes 95,672 83,180 85,992 Income taxes 16,065 14,866 16,003 Net income 79,607 68,314 69,989 Preferred stock dividends (2,562) (2,562) (2,562) Net income available to common shareholders $77,045 $65,752 $67,427 Net income available to common shareholders, per share (diluted) $0.46 $0.39 $0.42 Operating net income available to common shareholders, per share (diluted)(1) $0.47 $0.39 $0.42 ROAA 1.17% 1.03% 1.10% Operating ROAA(1) 1.18% 1.04% 1.11% ROAE 12.59% 11.02% 11.57% ROAE (tangible)(1) 16.52% 14.46% 15.23% Efficiency ratio(1) 60.1% 58.5% 61.4%

NONINTEREST-BEARING DEPOSIT MIX TREND HAS INCREASED OVER TIME 7

NET INTEREST INCOME AND MARGIN Net Interest Income & Net Interest Margin Average Interest-Earning Assets & Yields Average Deposits and Borrowings & Other & Cost of Funds (DOLLARS IN MILLIONS) (DOLLARS IN BILLIONS) (DOLLARS IN BILLIONS) 8 $22 $22 $21 $21 $21 $1 $1 $2 $3 $3 0.20% 0.31% 0.72% 1.27% 1.70% 0.11% 0.18% 0.42% 0.82% 1.32% Cost of Deposits Cost of Funds Borrowings & Other Deposits 2Q22 3Q22 4Q22 1Q23 2Q23 $12 $15 $18 $21 $24 0.00% 0.50% 1.00% 1.50% 2.00% 2.50% 3.00% 3.50% $179 $216 $226 $216 $213 3.04% 3.54% 3.69% 3.53% 3.40% Net Interest Income Net Interest Margin (Fully-taxable equivalent basis, or FTE) 2Q22 3Q22 4Q22 1Q23 2Q23 $50 $75 $100 $125 $150 $175 $200 $225 $250 2.50% 2.75% 3.00% 3.25% 3.50% 3.75% 4.00% 4.25% 4.50% $19 $20 $20 $20 $21 $5 $5 $5 $5 $5 3.24% 3.83% 4.36% 4.73% 4.99% Loans Securities & Other Interest-Earning Asset Yield (FTE) 2Q22 3Q22 4Q22 1Q23 2Q23 $5 $10 $15 $20 $25 4.00% 6.00% 8.00% 10.00%

ASSET QUALITY (DOLLARS IN MILLIONS) Provision for Credit Losses Non-Performing Loans (NPLs) & NPLs to Loans Net Charge-offs (NCOs) and NCOs to Average Loans ACL(2) to NPLs & Loans 9(1) Includes the CECL Day 1 provision for credit losses of $8.0 million for the acquired Prudential Bancorp, Inc. loan portfolio. (2) The allowance for credit losses (“ACL”) relates specifically to "Loans, net of unearned income" and does not include reserves related to off-balance-sheet credit exposures. $2 $19 $15 $25 $10 2Q22 3Q22 4Q22 1Q23 2Q23 $— $5 $10 $15 $20 $25 $174 $193 $172 $165 $148 0.92% 0.98% 0.85% 0.80% 0.70% NPL NPLs/Loans 2Q22 3Q22 4Q22 1Q23 2Q23 $100 $125 $150 $175 $200 0.00% 0.50% 1.00% $(4) $0 $12 $14 $2 -0.08% 0.01% 0.23% 0.27% 0.04% Net charge-offs/(recoveries) NCOs/Average Loans (annualized) 2Q22 3Q22 4Q22 1Q23 2Q23 $(5) $0 $5 $10 $15 $20 $25 0.00% 0.10% 0.20% 0.30% 143% 138% 157% 169% 195% 1.31% 1.35% 1.33% 1.35% 1.37% ACL/NPLs ACL/Loans 2Q22 3Q22 4Q22 1Q23 2Q23 50% 75% 100% 125% 150% 175% 200% 0.75% 1.00% 1.25% 1.50% 1.75% 2.00% 2.25% (1)

NON-INTEREST INCOME(1) (1) Excluding investment securities gains Three months ended June 30, 2023 (percent of total non-interest income) 10 Non-interest income increased 17% from 1Q23(1) Driven primarily by increases in: n Commercial banking customer interest rate swap fees and merchant and card fees. n Higher income from equity method investments. n Mortgage banking due to an increase in loan volume during the period and higher spreads. 31% 5% 19% 38% 7% 2Q23 1Q23 Change (dollars in thousands) n Commercial Banking $23,145 $17,513 $5,632 n Wealth Management 18,678 18,062 616 n Consumer Banking 11,720 11,217 503 n Mortgage Banking 2,940 1,970 970 n Other 4,106 2,968 1,138 Total $60,589 $51,730 $8,859

NON-INTEREST EXPENSE Three months ended June 30, 2023 (percent of total non-interest expense) 11 56% 9% 10% 6% 19% 2Q23 1Q23 Change (dollars in thousands) n Salaries and Benefits $94,102 $89,283 $4,819 n Data Processing and Software 16,776 15,796 980 n Occupancy 14,374 14,438 (64) n Other Outside Services 10,834 10,126 708 n Other 31,932 29,973 1,959 Total $168,018 $159,616 $8,402 Non-interest expense increased 5.3% from 1Q23 Driven primarily by increases in: n Salaries and employee benefits expense primarily due to annual merit increases and one additional calendar day. n Other primarily due to increases in owned real estate and repossession expenses and state tax expense. n Data processing and software expense due to timing of work being performed on technology projects. n Other Outside Services driven by technology-related services. .

CAPITAL POSITION REMAINS STRONG(1) 12 (1) Regulatory capital ratios and excess capital amounts as of June 30, 2023 are preliminary. (2) Excesses shown are to regulatory minimums, including the 250 basis point capital conservation buffer, except for Tier 1 Leverage which is the well- capitalized minimum. 9.3% 10.1% 10.9% 13.7% Regulatory Minimums Excess Tier 1 Leverage CE Tier 1 Tier 1 Risk-Based Total Risk-Based —% 2.5% 5.0% 7.5% 10.0% 12.5% 15.0% 17.5% $1,156 $547 $697 $736 (as of June 30, 2023) (dollars in millions) (2)

CAPITAL RATIOS ADJUSTED FOR UNREALIZED LOSSES ON INVESTMENT SECURITIES - RATIOS REMAIN STRONG(1) 13 (1) Regulatory capital ratios and excess capital amounts as of June 30, 2023 are preliminary. (2) Excesses shown are to regulatory minimums, including the 250 basis point capital conservation buffer, except for Tier 1 Leverage which is the well-capitalized minimum. (3) Tier 1 Leverage and CE Tier 1 capital ratios were adjusted to incorporate the unrealized loss, net of tax, on held-to-maturity investment securities of $115.0 million and the unrealized loss, net of tax, on available-for-sale investment securities of $311.8 million. (4) Non-GAAP financial measure. Please refer to the calculation and management’s reasons for using this measure on the slide titled “Non-GAAP Reconciliation” at the end of this presentation. 6.6% 8.0% 8.3% —% 2.5% 5.0% 7.5% 10.0% 12.5% $772 $300 (as of June 30, 2023) (dollars in millions) n Regulatory Minimums n Excess(2) | | | | | | | | | | | | | Tier 1 Leverage(3) CE Tier 1(3) TCE(4)

A COMMITTED AND HEALTHY LIQUIDITY PROFILE WITH SIGNIFICANT COVERAGE 14

2023 OUTLOOK 15 Net interest income: $830 - $840 million(1) Non-interest income: $220 - $230 million(2) Provision for credit losses: $55 - $65 million(3) Non-interest expense: $645 - $660 million Effective tax rate: 17.5% +/-(4) (1) Assumes Fed Funds Rate increase of 25 bps in July 2023. Previously $850 - $870 million. (2) Excludes investment securities gains. (3) Previously $55 - $70 million. (4) Previously 18.5% +/-.

NON-GAAP RECONCILIATION 16 Note: The Corporation has presented the following non-GAAP financial measures because it believes that these measures provide useful and comparative information to assess trends in the Corporation's results of operations and financial condition. Presentation of these non-GAAP financial measures is consistent with how the Corporation evaluates its performance internally and these non-GAAP financial measures are frequently used by securities analysts, investors and other interested parties in the evaluation of companies in the Corporation's industry. Investors should recognize that the Corporation's presentation of these non-GAAP financial measures might not be comparable to similarly-titled measures of other companies. These non-GAAP financial measures should not be considered a substitute for GAAP basis measures and the Corporation strongly encourages a review of its condensed consolidated financial statements in their entirety. Three months ended (dollars in thousands) Jun 30 Mar 31 Jun 30 2023 2023 2022 Operating net income available to common shareholders Net income available to common shareholders $77,045 $65,752 $67,427 Plus: Core deposit intangible amortization 912 514 — Plus: Merger-related expenses — — 1,027 Less: Tax impact of adjustments (192) (108) (216) Operating net income available to common shareholders (numerator) $77,765 $66,158 $68,238 Weighted average shares (diluted) (denominator) 167,191 168,401 162,075 Operating net income available to common shareholders, per share (diluted) $0.47 $0.39 $0.42

NON-GAAP RECONCILIATION 17 Three months ended (dollars in thousands) Jun 30 Mar 31 Jun 30 2023 2023 2022 Operating return on average assets Net income $79,607 $68,314 $69,989 Plus: Core deposit intangible amortization 912 514 — Plus: Merger-related expenses — — 1,027 Less: Tax impact of adjustments (192) (108) (216) Operating net income (numerator) $80,327 $68,720 $70,800 Total average assets (denominator) $27,235,567 $26,900,653 $25,578,432 Operating return on average assets 1.18 % 1.04 % 1.11 %

NON-GAAP RECONCILIATION 18 Three months ended (dollars in thousands) Jun 30 Mar 31 Jun 30 2023 2023 2022 Return on average common shareholders' equity (tangible) Net income available to common shareholders $77,045 $65,752 $67,427 Plus: Intangible amortization 1,072 674 177 Plus: Merger-related expenses — — 1,027 Less: Tax impact of adjustments (225) (142) (253) Operating net income available to common shareholders (numerator) $77,892 $66,284 $68,378 Average shareholders' equity $2,647,464 $2,613,316 $2,531,346 Less: Average preferred stock (192,878) (192,878) (192,878) Less: Average goodwill and intangible assets (563,146) (561,744) (537,786) Average tangible common shareholders' equity (denominator) $1,891,440 $1,858,694 $1,800,682 Return on average common shareholders' equity (tangible) 16.52 % 14.46 % 15.23 %

NON-GAAP RECONCILIATION 19 (dollars in thousands) Three months ended Jun 30 Mar 31 Jun 30 Efficiency ratio 2023 2023 2022 Non-interest expense $168,018 $159,616 $149,730 Less: Amortization of tax credit investments — — (696) Less: Merger-related expenses — — (1,027) Less: Intangible amortization (1,072) (674) (177) Non-interest expense (numerator) $166,946 $158,942 $147,830 Net interest income $212,852 $215,587 $178,831 Tax equivalent adjustment 4,405 4,414 3,427 Plus: Total non-interest income 60,585 51,753 58,391 Less: Investment securities (gains) losses, net 4 (23) (8) Total revenue (denominator) $277,846 $271,731 $240,641 Efficiency ratio 60.1% 58.5% 61.4%

20 Three months ended (dollars in thousands) Jun 30 2023 Adjusted tangible common equity to tangible assets (TCE Ratio) Shareholders' equity $ 2,642,152 Less: Preferred stock (192,878) Less: Goodwill and intangible assets (561,885) Less: Unrealized gain/(loss) - HTM (148,690) Less: Tax impact of adjustments 33,678 Adjusted tangible common shareholders' equity (numerator) $ 1,772,377 Total assets $ 27,403,163 Less: Goodwill and intangible assets (561,885) Less: Unrealized gain/(loss) - HTM (148,690) Less: Tax impact of adjustments 33,678 Adjusted total tangible assets (denominator) $ 26,726,266 Adjusted tangible common equity to tangible assets 6.6 % NON-GAAP RECONCILIATION

Cover Page	Jul. 18, 2023
Document Information [Line Items]
Document Type	8-K
Document Period End Date	Jul. 18, 2023
Entity Registrant Name	Fulton Financial Corporation
Entity Central Index Key	0000700564
Amendment Flag	false
Entity Incorporation, State or Country Code	PA
Entity File Number	001-39680
Entity Tax Identification Number	23-2195389
Entity Address, Address Line Two	P.O. Box 4887
Entity Address, Address Line One	One Penn Square,
Entity Address, City or Town	Lancaster,
Entity Address, State or Province	PA
Entity Address, Postal Zip Code	17604
City Area Code	717
Local Phone Number	291-2411
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Entity Emerging Growth Company	false
Common Stock
Document Information [Line Items]
Title of 12(b) Security	Common stock, par value $2.50
Trading Symbol	FULT
Security Exchange Name	NASDAQ
Series A Preferred Stock
Document Information [Line Items]
Title of 12(b) Security	Depositary Shares, Each Representing 1/40th Interest in a Share of Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A
Trading Symbol	FULTP
Security Exchange Name	NASDAQ