Company: CFG-PE
Filing Date: 2025-07-22
Form Type: 424B2
Source: 0001193125-25-162273
Chunk: 29

Company: CITIZENS FINANCIAL GROUP INC/RI
Filing Date: 2025-07-22
Form: 424B2
Chunk 29
---
 (or a duly authorized committee of the board) does not declare a dividend on the Series I Preferred Stock in respect of a dividend period, then holders of Series I Preferred Stock shall not be entitled to receive any dividends not declared by the board (or a duly authorized committee of the board) and no interest, or sum of money in lieu of interest, shall be payable in respect of any dividend not so declared, whether or not our board (or a duly authorized committee of the board) declares a dividend on the Series I Preferred Stock or any other series of our preferred stock or on our common stock for any future dividend period. The “ Five-year U.S. Treasury Rate” means, as of any reset dividend determination date, as applicable, (i) the average of the yields on actively traded U.S. treasury securities adjusted to constant maturity, for five-year maturities, for the five business days appearing (or, if fewer than five business days appear, such number of business days appearing) under the caption “Treasury Constant Maturities – Nominal” (or any successor caption or heading) in the most recently published H.15 as of 5:00 p.m. (Eastern Time) (the “ initial base rate”) or (ii) if there are no such published yields on actively traded U.S. treasury securities adjusted to constant maturity (nominal/non-inflation-indexed),for five-year maturities, then the rate will be determined by interpolation between the average of the yields on actively traded U.S. treasury securities adjusted to constant maturity for two series of actively traded U.S. treasury securities, (A) one maturing as close as possible to, but earlier than, the dividend reset date following the next succeeding reset dividend determination date, and (B) the other maturing as close as possible to, but later than, the dividend reset date following the next succeeding reset dividend determination date, in each case for the five business days appearing (or, if fewer than five business days appear, such number of business days appearing) in the H.15 as of 5:00 p.m. (Eastern Time). Notwithstanding the foregoing, if Citizens, in its sole discretion, determines on or prior to the relevant reset dividend determination date that the Five-year U.S. Treasury Rate cannot be determined in the manner then S-17

applicable for such rate (which, as of the date of original issuance of the Series I Preferred Stock, is pursuant to the methods described in clauses (i) or (