Second Quarter 2018 Investor Presentation  June 4, 2018

Certain statements contained in this investor presentation are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements include, without limitation, statements relating to the Company’s business, cash flows, condition (financial or otherwise), credit quality, financial performance, liquidity, long-term performance goals, prospects, results of operations, the performance of the Company’s Banking and Mortgage Segments, strategic initiatives, the benefits, cost and synergies of the Clayton Banks acquisition, the timing, benefits, costs and synergies of future acquisitions, disposition and other growth opportunities and the performance of the banking and mortgage industry and the condition of the economy in general. These statements, which are based upon certain assumptions and estimates and describe the Company’s future plans, results, strategies and expectations, can generally be identified by the use of the words and phrases “may,” “will,” “should,” “could,” “would,” “goal,” “plan,” “potential,” “estimate,” “project,” “believe,” “intend,” “anticipate,” “expect,” “target,” “aim,” “predict,” “continue,” “seek,” “projection” and other variations of such words and phrases and similar expressions. These forward-looking statements are not historical facts, and are based upon current expectations, estimates and projections about the Company’s industry, management’s beliefs and certain assumptions made by management, many of which, by their nature, are inherently uncertain and beyond the Company’s control. The inclusion of these forward-looking statements should not be regarded as a representation by the Company or any other person that such expectations, estimates and projections will be achieved. Accordingly, the Company cautions investors that any such forward-looking statements are not guarantees of future performance and are subject to risks, assumptions and uncertainties that are difficult to predict and that are beyond the Company’s control. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable as of the date of this investor presentation, actual results may prove to be materially different from the results expressed or implied by the forward-looking statements. A number of factors could cause actual results to differ materially from those contemplated by the forward-looking statements in this investor presentation including, without limitation, the risks and other factors set forth in the Company’s Annual Report on Form 10-K for the year ended December 31, 2017, filed with the SEC on March 16, 2018, and Form 10-Q for the quarter ended March 31, 2018, filed with the SEC on May 10, 2018, under the captions “Cautionary note regarding forward-looking statements” and “Risk factors.” Many of these factors are beyond the Company’s ability to control or predict. If one or more events related to these or other risks or uncertainties materialize, or if the Company’s underlying assumptions prove to be incorrect, actual results may differ materially from the forward-looking statements. Accordingly, investors should not place undue reliance on any such forward-looking statements. Any forward-looking statement speaks only as of the date of this investor presentation, and the Company does not undertake any obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law. New risks and uncertainties may emerge from time to time, and it is not possible for the Company to predict their occurrence or how they will affect the Company.TerminologyIn this investor presentation, references to “we,” “our,” “us,” “FB Financial” or “the Company” refer to FB Financial Corporation, a Tennessee corporation, and our wholly owned bank subsidiary, FirstBank, a Tennessee state-chartered bank, unless otherwise indicated or the context otherwise requires. References to “Bank” or “FirstBank” refer to FirstBank, our wholly owned bank subsidiary.Contents of Investor PresentationExcept as is otherwise expressly stated, the contents of this investor presentation are presented as of the date on the front cover of this investor presentation. Market Data Market data used in this investor presentation has been obtained from government and independent industry sources and publications available to the public, sometimes with a subscription fee, as well as from research reports prepared for other purposes. Industry publications and surveys and forecasts generally state that the information contained therein has been obtained from sources believed to be reliable. We did not commission the preparation of any of the sources or publications referred to in this presentation. We have not independently verified the data obtained from these sources, and, although we believe such data to be reliable as of the dates presented, it could prove to be inaccurate. Forward-looking information obtained from these sources is subject to the same qualifications and the additional uncertainties regarding the other forward-looking statements in this investor presentation.   Forward looking statements

Use of non-GAAP financial measures  This investor presentation contains certain financial measures that are not measures recognized under U.S. generally accepted accounting principles (GAAP) and therefore are considered non-GAAP financial measures. The Company’s management uses these non-GAAP financial measures in their analysis of the Company’s performance, financial condition and the efficiency of its operations. Management believes that these non-GAAP financial measures provide a greater understanding of ongoing operations and enhance comparability of results with prior periods as well as demonstrate the effects of significant gains and charges in the periods presented. The Company’s management also believes that investors find these non-GAAP financial measures useful as they assist investors in understanding our underlying operating performance and the analysis of ongoing operating trends. However, the non-GAAP financial measures discussed herein should not be considered in isolation or as a substitute for the most directly comparable or other financial measures calculated in accordance with GAAP. Moreover, the manner in which we calculate the non-GAAP financial measures discussed herein may differ from that of other companies reporting measures with similar names. You should understand how such other banking organizations calculate their financial measures similar or with names similar to the non-GAAP financial measures we have discussed herein when comparing such non-GAAP financial measures. Below is a listing of the non-GAAP financial measures used in this investor presentation. Adjusted net income and earnings per share, pro forma adjusted net income and earnings per share, the core efficiency ratio (tax equivalent basis), the Banking segment core efficiency ratio (tax-equivalent basis), the Mortgage segment core efficiency ratio (tax-equivalent basis), adjusted return on average assets, equity and tangible common equity pro forma adjusted return on average assets, equity and tangible common equity and pro forma adjusted total revenue are non-GAAP measures that exclude merger-related and conversion expenses, one time IPO equity grants, securities gains (losses), gain (loss) on sale of other real estate owned, and other selected items. The Company’s management uses these measures in their analysis of the Company’s performance. The Company’s management believes these measures provide a greater understanding of ongoing operations and enhance comparability of results with prior periods, as well as demonstrate the effects of significant gains and charges. Tangible book value per common share and tangible common equity to tangible assets are non-GAAP measures that exclude the impact of goodwill and other intangibles and are used by the Company’s management to evaluate capital adequacy. Because intangible assets such as goodwill and other intangibles vary extensively from company to company, we believe that the presentation of these non-GAAP financial measures allows investors to more easily compare the Company’s capital position to other companies. A reconciliation of these non-GAAP financial measures to the most directly comparable GAAP measures is provided in the Appendix to this investor presentation.

 Strategic drivers    Great Place to Work  Strategic M&A    Experienced Senior Management Team  Elite Financial Performer  Scalable Banking and Mortgage Platforms  Local Decision Makers in Attractive Metro and Community Markets 3

 Snapshot of FB Financial today  Financial highlights  Company overview  Second largest Nashville-headquartered bank and third largest Tennessee-based bankOriginally chartered in 1906, one of the longest continually operated banks in Tennessee Completed the largest bank IPO in Tennessee history in September 2016Mr. James W. Ayers is a current ~44% owner of FB Financial following recent secondary offeringAttractive footprint in both high growth metropolitan markets and stable community marketsLocated in six attractive metropolitan markets in Tennessee, Alabama and GeorgiaStrong market position in twelve community marketsMortgage offices located throughout footprint and strategically across the southeastProvides the personalized, relationship-based service of a community bank with the products and capabilities of a larger bankPersonal banking, commercial banking, investment services, trust and mortgage bankingLocal people, local knowledge and local authority  Note: Unaudited financial data as of March 31, 20181 Non-GAAP financial measure. See “Use of non-GAAP financial measures” and “Reconciliation of non-GAAP financial measures” in the Appendix hereto.  Current organizational structure  Balance sheet data ($mm)  3/31/2018  Total assets  $4,725  Loans - HFI  3,245  Total deposits  3,766  Shareholder’s equity  611  Key metrics – (%)  YTD 3/31/2018  Pro forma adjusted ROAA (%)  1.791  Adjusted ROATCE (%)  18.71  NIM (%)  4.64  Core Efficiency (%)  65.51  Tangible Common Equity/ Tangible Assets (%)  10.11  100% stockholder of FirstBank 5

Well positioned in attractive metropolitan markets  269123Blue dots  193210228Metro markets  130131135Highway  167169172State county outlines  8715487Green dots  148194148Community markets  Source files are619754_FirstBank Bancorp.ai and mapinfo  Nashville rankings: “The new 'it' City” – The New York Times1   Most attractive mid-sized cities for business3  # 2  Home to leading companies…with more on the way  Nashville growth  Population growth 2010 – 2018 (%)  Projected median HHI growth 2018 – 2023 (%)  Projected population growth 2018 – 2023 (%)  Located in northern Alabama One of the strongest technology economies in the nation, with the highest concentration of engineers in the United States6th largest county by military spending in the country  Huntsville  Chattanooga  4th largest MSA in TNDiverse economy with over 24,000 businesses Employs over 260,000 people Focused on attracting tech companies and start-ups; first municipality to debut a gigabit network  Memphis  2nd largest MSA in TNDiversified business base and has the busiest cargo airport in North America11.5 million tourists visit annually, generating more than $3.3 billion for the local economy in 2016   Knoxville  3rd largest MSA in TN Approximately 14,000 warehousing and distribution jobs are in the area and account for an annual payroll of $3.8 billionWell situated to attract the key suppliers and assembly operations in the Southeast  Source: S&P Market Intelligence; Chattanooga, Knoxville, Memphis, Huntsville Chambers of Commerce, U.S. Department of Labor, Bureau of Labor Statistics, NAICS; 1 January 8, 2013 “Nashville Takes its Turn in the Spotlight”; 2 Forbes, June 2017; 3 KPMG, April 2014; 4 Headlight Data, July 2017; 5 ACBJ, October 2017.  8th largest MSA in TNComplements and solidifies our West Tennessee franchiseFirstBank is an established leader with #3 market share  Jackson  Metro for professional and business service jobs2  # 1  North America HQ    “AllianceBernstein LP to establish global headquarters in Nashville…to base 1,050 jobs in Davidson county”   Healthiest economy in top 100 metro areas5  # 4  Fastest growing large metro economy4  # 3 8

Three months endedMarch 31, 2018      Non-GAAP adjusted results1  Reported GAAP results  Diluted earnings per share  $0.66  $0.63  Net income ($mm)  $20.6  $19.8  Net interest margin   4.64%  4.64%  Return on average assets   1.79%  1.71%  Return on average equity  14.0%  13.4%  Return on average tangible common equity  18.7%  17.9%  Efficiency ratio  65.5%  68.7%  1Q 2018 highlights  Key highlights  Financial results  1 Adjusted results are non-GAAP financial measures that adjust GAAP reported net income and other metrics for certain income and expense items as outlined in the non-GAAP reconciliation calculations, using a combined marginal income tax rate of 26.06% excluding one-time items. See “Use of non-GAAP financial measures” and “Reconciliation of non-GAAP financial measures” in the Appendix hereto.2 Includes accretion from acquired / purchased loans and collection of interest income on nonaccrual loans, which resulted in 20 basis points of net interest margin during 1Q 2018.  Adjusted diluted EPS1 of $0.66, resulting in adjusted ROAA1 of 1.79%Loans (HFI) grew to $3.24 billion, a 70.7% increase from 1Q 2017; grew 10.0% annualized from 4Q 2017Customer deposits grew to $3.68 billion, a 36.5% increase from 1Q 2017; grew 12.0% annualized from 4Q 2017, while controlling deposit costs of 0.55%Continued customer-focused balance sheet growth resulting in a net interest margin of 4.64% for 1Q 2018Banking Segment core efficiency ratio1 improved to 55.2% in 1Q 2018, down 921 basis points from 1Q 2017Mortgage banking revenue of $26.5 million, a 5.5% increase from 1Q 2017, driven by interest rate lock commitment (IRLC) volume of $2.1 billion for the quarter, up 33.2% from 1Q 2017Paid initial quarterly dividend of $0.06 per common share to shareholders of record as of April 30, 2018, driven by robust capital generationCompleted $151.8 million Secondary Offering on May 31, 2018  2 9

M&A Strategy  Tuscaloosa Drive time from Nashville 3:30 / Huntsville 2:10Birmingham from Nashville 2:40 / Huntsville 1:30Atlanta 3:30 / Chattanooga 1:40Greenville 5:10 / Chattanooga 3:30 / Knoxville 2:40Asheville 4:20 / Knoxville 1:50Blacksburg 5:50 / Knoxville 3:20Roanoke 6:10 / Knoxville 3:40Bowling Green 1:00Glasgow 1:30  Consolidation strategy across existing and contiguous markets  Actively evaluate desirable opportunities in current and expansion markets, highlighted aboveFinancially attractive (EPS accretion, minimal TBV dilution)Cultural and strategic fitConsolidate across Tennessee as attractive opportunities arisePotential Targets in Current Footprint:20 banks headquartered in TN between $400 million and $750 million in assets10 banks between $750 million and $1 billion10 banks $1 billion to $3 billion in assets  Maintain positive, ongoing dialogue with targets to position ourselves as an option when they are ready to create a partnershipPotential Targets in Highlighted Markets:31 banks headquartered in highlighted MSAs $400 million - $3 billion in assets, 9 of which are greater than $1 billion15 additional banks in Community markets $400 million - $3 billion, 4 of which are greater than $1 billionExisting FirstBank Mortgage offices in Tuscaloosa, Birmingham, Atlanta and Greenville MSAs  Drive Times  Tuscaloosa:Nashville ~3.5 hoursHuntsville ~2 hoursBirmingham:Nashville >3 hoursHuntsville ~1.5 hoursAtlanta:Nashville ~3.5 hoursChattanooga <2 hoursGreenville:Nashville ~5 hoursKnoxville <3 hoursAsheville:Nashville ~4 hoursKnoxville ~2 hours  Atlanta  Birmingham  Tuscaloosa  Greenville  Asheville  BowlingGreen  Glasgow  Clarksville  Kingsport  JohnsonCity 18

    Appendix 19

Reconciliation of non-GAAP financial measures (cont’d) Tax-equivalent core efficiency ratio (1) Efficiency ratio (GAAP) is calculated by dividing non-interest expense by total revenue. (Dollars in thousands)1Q 2018201720162015201420132012Core efficiency ratio (tax-equivalent basis)Total noninterest expense56,151$ 222,317$ 194,790$ 138,492$ 102,163$ 89,584$ 83,874$ Less one-time equity grants - - 2,960 - 3,000 - - Less variable compensation charge related to cash settled equity awards- 635 1,254 - - - - Less merger and conversion expenses1,193 19,034 3,268 3,543 - - - Less loss on sales or write-downs of other real estate- - - - - - 2,339 Less impairment of mortgage servicing rights- - 4,678 194 - - - Less loss on sale of mortgage servicing rights- 249 4,447 - - - - Core noninterest expense54,958$ 202,399$ 178,183$ 134,755$ 99,163$ 89,584$ 81,535$ Net interest income (tax-equivalent basis)48,799 156,094 113,311 95,887 85,487 77,640 70,602 Total noninterest income33,275 141,581 144,685 92,380 50,802 41,386 38,047 Less bargain purchase gain- - - 2,794 - - - Less change in fair value on mortgage servicing rights(1,713) (3,424) - - - - - Less gain on sales or write-downs of other real estate owned and other assets(118) 110 1,179 (710) 151 158 - Less gain from securities, net(47) 285 4,407 1,844 2,000 34 3,670 Core noninterest income35,153 144,610 139,099 88,452 48,651 41,194 34,377 Core revenue83,952$ 300,704$ 252,410$ 184,339$ 134,138$ 118,834$ 104,979$ Efficiency ratio (GAAP)(1)68.72%75.40%76.20%74.36%76.14%76.66%78.85%Core efficiency ratio (tax-equivalent basis)65.46%67.31%70.59%73.10%73.93%75.39%77.67% 21

Tangible book value per common share and tangible common equity to tangible assets Reconciliation of non-GAAP financial measures (cont’d) 20182017(Dollars in thousands)First Quarter Fourth Quarter Third Quarter Second Quarter First Quarter Fourth Quarter Third Quarter Tangible Assets Total assets4,725,416$ 4,727,713$ 4,581,943$ 3,346,570$ 3,166,459$ 3,276,881$ 3,187,180$ Less goodwill137,190 137,190 138,910 46,867 46,867 46,867 46,867 Less intangibles, net14,027 14,902 12,550 4,048 4,171 4,563 5,090 Tangible assets4,574,199$ 4,575,621$ 4,430,483$ 3,295,655$ 3,115,421$ 3,225,451$ 3,135,223$ Tangible Common Equity Total shareholders' equity611,075$ 596,729$ 572,528$ 509,517$ 342,142$ 330,498$ 329,108$ Less goodwill137,190 137,190 138,910 46,867 46,867 46,867 46,867 Less intangibles, net14,027 14,902 12,550 4,048 4,171 4,563 5,090 Tangible common equity459,858$ 444,637$ 421,068$ 458,602$ 291,104$ 279,068$ 277,151$ Common shares outstanding30,671,763 30,535,517 30,526,592 28,968,160 24,154,323 24,107,660 23,975,122 Book value per common share19.92$ 19.54$ 18.76$ 17.59$ 14.16$ 13.71$ 13.73$ Tangible book value per common share14.99$ 14.56$ 13.79$ 15.83$ 12.05$ 11.58$ 11.56$ Total shareholders' equity to total assets12.93%12.62%12.50%15.23%10.81%10.09%10.33%Tangible common equity to tangible assets10.05%9.72%9.50%13.92%9.34%8.65%8.84%2016 24