Company: CFG-PE
Filing Date: 2025-07-23
Form Type: 424B2
Source: 0001193125-25-163534
Chunk: 32

Company: CITIZENS FINANCIAL GROUP INC/RI
Filing Date: 2025-07-23
Form: 424B2
Chunk 32
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. Restrictions on Dividends, Redemption and Repurchases So long as any share of Series I Preferred Stock remains outstanding, unless dividends on all outstanding shares of Series I Preferred Stock for the most recently completed dividend period have been paid in full or declared and a sum sufficient for the payment thereof has been set aside for payment, (i) no dividend may be declared or paid or set aside for payment, and no distribution may be made, on any junior stock, (ii) no monies may be paid or made available for a sinking fund for the redemption or retirement of junior stock (a “ junior stock sinking fund payment”), and (iii) no shares of junior stock shall be purchased, redeemed or otherwise acquired for consideration by us, directly or indirectly, other than:

| • |     | any junior stock sinking fund payment, or any purchase, redemption or other acquisition of shares of junior                                                                                                                          
 stock, as a result of (x) a reclassification of junior stock for or into other junior stock, (y) the exchange or conversion of one share of junior stock for or into another share of junior stock or (z) the purchase of fractional 
 interests in shares of junior stock under the conversion or exchange provisions of junior stock or the security being converted or exchanged;                                                                                        |

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| • |     | any junior stock sinking fund payment, or any purchase, redemption or other acquisition of shares of junior     
 stock, through the use of the proceeds of a substantially contemporaneous sale of other shares of junior stock; |

| • |     | repurchases, redemptions or other acquisitions of shares of junior stock in connection with (1) any                                                                                                                        
 employment contract, benefit plan or other similar arrangement with or for the benefit of any one or more employees, officers, directors or consultants or (2) a dividend reinvestment or stockholder stock purchase plan; |

| • |     | any declaration of a dividend in connection with any stockholders’ rights plan, or the issuance of rights,                      
 stock or other property under any stockholders’ rights plan, or the redemption or repurchase of rights pursuant to the plan; or |

| • |     | any dividend paid on junior stock in the form of stock, warrants, options or other rights where the dividend                                                                
 stock or the stock issuable upon exercise of such warrants, options or other rights is the same stock as that on which the dividend is being paid or is other junior stock. |

However, the foregoing will not restrict the ability of us or any of