Company: CFG-PE
Filing Date: 2025-07-22
Form Type: 424B2
Source: 0001193125-25-162273
Chunk: 59

Company: CITIZENS FINANCIAL GROUP INC/RI
Filing Date: 2025-07-22
Form: 424B2
Chunk 59
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 corporation; |

| • |     | an estate whose income is subject to U.S. federal income tax regardless of its source; or |

| • |     | a trust if a U.S. court can exercise primary supervision over the trust’s administration and one or more 
 U.S. persons are authorized to control all substantial decisions of the trust.                           |

If you are not a U.S. holder, this subsection does not apply to you and you should refer to “—Non-U.S.Holders” below. Distributions on the Series I Preferred Stock Distributions with respect to our Series I Preferred Stock will constitute dividends to the extent made out of our current or accumulated earnings and profits, as determined under U.S. federal income tax principles. If a distribution exceeds our current and accumulated earnings and profits, the excess will be treated as a non-taxablereturn of capital to the extent of your tax basis in our Series I Preferred Stock (and you will reduce your tax basis accordingly) and thereafter as capital gain from the sale or exchange of such Series I Preferred Stock. If you are a corporation, dividends received by you will be eligible for the dividends-received deduction if you meet certain holding period and other applicable requirements. If you are a non-corporateU.S. holder, dividends paid to you will qualify for taxation at preferential rates applicable to “qualified dividends” if you meet certain holding period and other applicable requirements. U.S. holders should consult their own tax advisers regarding the availability of the reduced qualified dividend tax rate in light of their particular circumstances. Sale or Exchange of the Series I Preferred Stock Other than by Redemption If you sell or otherwise dispose of your Series I Preferred Stock (other than by redemption), you will generally recognize capital gain or loss equal to the difference between the amount realized upon the disposition and your adjusted tax basis of the Series I Preferred Stock. Capital gain of a non-corporateU.S. holder is generally taxed at preferential rates where the holder has a holding period greater than one year. Redemption of the Series I Preferred Stock Redemption of your Series I Preferred Stock generally would be a taxable event. You would be treated as if you had sold your Series I Preferred Stock if the redemption:

| • |     | results in a complete termination of your stock interest in us; or |

| • |     | is not essentially equivalent to a dividend with respect to you. |

In determining whether either of these tests has been met, shares of Series I Preferred Stock or other classes of our stock considered to be owned by you