Company: CFG-PE
Filing Date: 2025-07-23
Form Type: 424B2
Source: 0001193125-25-163534
Chunk: 55

Company: CITIZENS FINANCIAL GROUP INC/RI
Filing Date: 2025-07-23
Form: 424B2
Chunk 55
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ary receipts or the Depositary Shares represented by those 
 receipts registered in their names;                                                                        |

| • |     | will not receive or be entitled to receive physical delivery of securities certificates in exchange for 
 beneficial interests in the global depositary receipts; and                                             |

| • |     | will not be considered to be owners or holders of the global depositary receipts or the Depositary Shares                                     
 represented by those receipts for any purpose under the instruments governing the rights and obligations of holders of the Depositary Shares. |

We will make payments, including dividends, if any, on the Series I Preferred Stock represented by global depositary receipts in respect of the Depositary Shares to the depositary. In turn, the depositary will deliver the S-32

dividends to DTC or its nominee, as the case may be, as the registered holder of the Depositary Shares in accordance with the arrangements then in place between the depositary and DTC. DTC’s
practice is to credit direct participants’ accounts upon DTC’s receipt of funds and corresponding detail information from the issuer or its agent, on the payable date in accordance with their respective holdings shown on DTC’s
records. Payments by participants to beneficial owners will be governed by standing instructions and customary practices, as is the case with securities held for the accounts of customers in bearer form or registered in “street name,” and
will be the responsibility of that participant and not of DTC, the depositary, the issuer or any of their agents, subject to any statutory or regulatory requirements as may be in effect from time to time. Payments to Cede & Co. (or such
other nominee as may be requested by an authorized representative of DTC) are the responsibility of the issuer or its agent, disbursement of such payments to direct participants will be the responsibility of DTC, and disbursement of such payments to
the beneficial owners will be the responsibility of direct and indirect participants.

As long as the Depositary Shares are represented by
global depositary receipts, we will make all dividend payments in immediately available funds. In the event depositary receipts are issued in certificated form, dividends generally will be paid by check mailed to the holders of the depositary
receipts on the applicable record date at the address appearing on the security register.

Ownership of beneficial interests in the
Depositary Shares will be limited to participants or persons that may hold beneficial interests through institutions that have accounts with DTC or its nominee. Ownership of beneficial interests in the Depositary Shares will