Company: CFG-PE
Filing Date: 2025-07-23
Form Type: 424B2
Source: 0001193125-25-163534
Chunk: 2

Company: CITIZENS FINANCIAL GROUP INC/RI
Filing Date: 2025-07-23
Form: 424B2
Chunk 2
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         |    |     | Total |                |
|:-------------------------------------------------------------|:----|:---------------|--------:|---:|:----|:------|---------------:|
| Initial Public Offering Price(1)                             |     | $              | 25.0000 |    |     | $     | 400,000,000.00 |
| Underwriting Discount(2)                                     |     | $              |  0.3487 | -3 |     | $     |   5,579,175.00 |
| Proceeds, Before Expenses, to Citizens Financial Group, Inc. |     | $              | 24.6513 | -3 |     | $     | 394,420,825.00 |

| (1) | The initial public offering price set forth above does not include dividends, if any, that may be declared.           
 Dividends, if declared, will be calculated from the date of original issuance, which is expected to be July 31, 2025. |

| (2) | Reflects 13,062,000 Depositary Shares sold to institutional investors, for which the underwriters receive an                                                                                                  
 underwriting discount of $0.2500 per Depositary Share, and 2,938,000 Depositary Shares sold to retail investors, for which the underwriters receive an underwriting discount of $0.7875 per Depositary Share. |

| (3) | Rounded to four decimal places. See footnote (2). |

The underwriters expect to deliver the Depositary Shares in book-entry form only through the facilities of The Depository Trust Company against payment in New York, New York on July 31, 2025. Beneficial interests in the Depositary Shares will be shown on, and transfers thereof will be effected only through, records maintained by The Depository Trust Company and its direct and indirect participants, including Clearstream Banking S.A. (“ Clearstream”) and Euroclear Bank S.A./N.V. (“ Euroclear”). Joint Book-Running Managers

| Morgan Stanley      |     | BofA Securities        |     | J.P. Morgan              |
| UBS Investment Bank |     | Wells Fargo Securities |     | Citizens Capital Markets |

Co-Managers

| Drexel Hamilton |     | Mizuho |     | RBC Capital Markets |     | TD Securities |

Prospectus Supplement dated July 22, 2025

TABLE OF CONTENTS Prospectus Supplement

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