Road to 2018 its raining the road is

Road to 2018 – its raining; the road is getting muddy; crosswinds are increasing September, 2015

Market Presence l l l Founded in 1866 and headquartered in Columbus, Ohio $66 billion in bank assets The principal markets for services are Huntington's six-state retail banking franchise: Ohio, Michigan, Pennsylvania, Indiana, West Virginia, and Kentucky 700 branches; 1, 400 ATMs $12 billion in managed assets for individuals and institutional clients l Listed on NASDAQ, Ticker: HBAN l Member of S&P 500 Index 2

Road to 2018 – Updates since Fall, 2014 Our view is that 2018 potentially represents a turning-point in: • global economic leadership changes to either the Millennials or Emerging Market consumers • government debt-stress comes back as borrowing increases to finance social programs • inflation trends go higher with commodity prices, more government borrowing, Millennial transition On the road, we are now seeing new developments: 1. 2. China’s policymakers are having difficulty trying to pull-off three transitions: a) Stock market open to all investors – long and short. b) Export & Investment focused economy moving towards a Consumer focused. c) Industrial economy moving towards a service economy. Central banks are diverging. a) US and UK want to normalize, while most all others are still easing. 3. Commodities are moving lower. 4. Government keeps expanding. 5. Global growth continues to come under pressure. 3

1) China 4

China Macro – GDP growth rate is slowing; stocks are rolling over Ø GDP up 20 x since 1992 Ø Shanghai stocks up 6. 4 x since 1992 Source = Fact. Set 5

China Macro – Renminbi is now in focus Inverted Source = Fact. Set 6

China Macro – Policymakers want the blue line higher, but it won’t move Source = Ned Davis Research 7

China Macro – Dr. Copper is pointing to a slower Chinese economy Source = Fact. Set 8

2) Global Central Banks 9

Central Banks – Three groups and three different paths 1 2 3 Source = Fact. Set 10

The Fed, the 10 -Year and the Stock Market – History says they move the same direction 1 2 3 Source = Fact. Set 11

US Interest Rates – American savers should get some interest again The Fed members think Fed Funds Rate going here, hear and here. Source = Fact. Set 12

Fed Funds Rate vs. Borrowing – Loan growth was positive in the last three Fed cycles 1 2 3 Source = Fact. Set 13

Velocity of Money – The Fed (and Banks) would like this higher Source = Fact. Set 14

3) Commodities 15

CRB Index vs. China LEI – These two items are closely correlated Energy = 31% Agriculture = 30% Livestock = 5% Ind. Metals = 17% Prec. Metals = 16% Source = Fact. Set 16

US Energy Focus – US production of crude oil and natural gas rising Source = Fact. Set 17

4) Government Expansion 18

US Government Focus – Government rising as a percent of GDP Source = Fact. Set 19

US Government Focus – Three areas catching our attention Recent government trends: 1. Mandate that large foundations & endowments distribute between 5% and 8% of market value per year. 2. Have stock buybacks considered financial engineering and/or stock manipulation. 3. Focus on “Stakeholder” vs. “Shareholder”. 20

US National Income Components – Wages giving way to Profits as productivity rises Source = Fact. Set 21

5) Global Growth Under Pressure 22

Global Economic Overview – Growth was 3. 4% in 2013 & 2014; 2015 estimate at 3. 3% Global GDP = $77. 8 trillion 3. 8% Source = Bloomberg/IMF 2016 GDP growth estimate (IMF) = Source = GDP data are 6/15 numbers from Bloomberg; 2016 GDP growth projections are from IMF (7/15) 23

Global GDP Trends – IMF forward estimates for real GDP growth Region 2014 Actual 2015 Forecast 2016 Forecast US 2. 4 2. 5 3. 0 Euro. Zone 0. 8 1. 5 1. 7 UK 2. 9 2. 4 2. 2 Japan -0. 1 0. 8 1. 2 China 7. 4 6. 8 6. 3 India 7. 3 7. 5 Brazil 0. 1 -1. 5 0. 7 Source = International Monetary Fund, July-2015 World Economic Outlook 24

Global Stock Market Trends – Success is where government buys or CB’s support Source = Fact. Set 25

Global Consumer Spending Trends – Non-OECD countries now outspending 34 OECD countries Source = Fact. Set 26

6) Summary Items On-Our-Mind 27

Road to 2018 – Current Thoughts 1. Global economic leadership switching back to the US – and that may continue into 2018 on low inflation, low interest rates, positive employment, low commodity prices. 2. Emerging market consumer spending is becoming more dominant – and increases could understate global economic growth estimates. 3. Stocks near all-time highs and bond yields near all-time lows – something will eventually need to give but it may not be until later this decade. 4. Developed market economies are generally seeing less governmentdebt-stress – though this condition may only last into 2018. 5. Supply outpacing Demand seems prevalent for most all goods and basic materials – robust M&A likely to continue. 28

Disclosures and Disclaimers The opinions expressed herein are those of The Huntington Trust, and may not actually come to pass. This information is current as of the date of the presentation and is subject to change at any time, based on market and other conditions. Prior to making any financial or investment decision, you should assess, or seek advice from a professional regarding, whether any particular transaction is relevant or appropriate to your individual circumstances. Index performance is used throughout this presentation to illustrate historical market trends and performance. Indexes are unmanaged and do not incur investment management fees. An investor is unable to invest in an index. Past performance is no guarantee of future results. Not FDIC Insured Offer No Bank Guarantee Not Insured By Any Federal Government Agency May Lose Value Not A Deposit 29