Synovus Financial Corp. today announced that (i) as of 5:00 p.m., New York City time, on January 7, 2016, an aggregate principal amount of approximately $180.3 million of its outstanding 5.125% Subordinated Notes due June 15, 2017, representing approximately 44.7% of the outstanding principal amount, had been validly tendered (and had not been validly withdrawn) pursuant to the previously announced cash tender offer to purchase up to $100 million aggregate principal amount of such 2017 notes and (ii) that it has increased the Maximum Tender Amount from $100 million aggregate principal amount to $125 million aggregate principal amount.

Synovus expects to accept and make payment today for 2017 notes that were validly tendered and not validly withdrawn on or prior to the Early Tender Time in an aggregate principal amount of approximately $125 million. Because the tender offer was oversubscribed, the 2017 notes validly tendered and not validly withdrawn on or prior to the Early Tender Time will be purchased on a pro rated basis as set forth in the offer to purchase relating to the tender offer. Holders of 2017 notes who validly tendered (and did not validly withdraw) their 2017 notes at or before the Early Tender Time and whose 2017 notes are accepted for purchase will receive the total consideration offer in the tender offer, namely $1,042.50 per $1,000 principal amount of 2017 notes tendered, plus accrued and unpaid interest thereon. Because the tender offer was oversubscribed as of the Early Tender Time, no 2017 notes tendered after the Early Tender Time will be purchased in the tender offer.

The tender offer will expire at 11:59 p.m. (New York City time) on January 22, 2016, unless the tender offer is earlier terminated or extended (as may be extended, the “Expiration Time”). The tender offer is being made exclusively pursuant to an offer to purchase dated December 23, 2015 (the “Offer to Purchase”), and related letter of transmittal (the “Letter of Transmittal”), as amended by this press release.

J.P. Morgan Securities LLC is serving as dealer manager (the “Dealer Manager”) for the tender offer.

Questions regarding the tender offer may be directed to the Dealer Manager at 866-834-4666 (toll-free) or 212-834-2494 (collect). Copies of the Offer to Purchase and the Letter of Transmittal may be obtained upon request by contacting the tender agent and information agent (the “Tender Agent” and “Information Agent”) for the tender offer, D.F. King & Co., Inc., 48 Wall Street, 22nd Floor, New York, New York 10005, Attn: Krystal Scrudato; banks and brokers call collect 212-269-5550, all others call toll-free 877-361-7971, or via email at [email protected].