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

Company: CITIZENS FINANCIAL GROUP INC/RI
Filing Date: 2025-07-22
Form: 424B2
Chunk 22
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 that our banking and non-bankingsubsidiaries may pay to us without regulatory approval. In particular, dividend and other distributions from CBNA to us may require notice to or approval of the applicable regulatory authority. There can be no assurances that we would receive such approval. In addition, if, in the opinion of the applicable regulatory authority, a bank under its jurisdiction is engaged in or is about to engage in an unsafe or unsound practice, such authority may require, after notice and hearing, that such bank cease and desist from such practice. Depending on the financial condition of CBNA, the applicable regulatory authority might deem us to be engaged in an unsafe or unsound practice if our banking subsidiary were to pay dividends. The FRB and OCC have issued policy statements generally requiring insured banks and bank holding companies only to pay dividends out of current operating earnings. Payment of dividends could also be subject to regulatory limitations if CBNA fails to satisfy the minimum requirements and applicable buffers under the OCC’s capital adequacy requirements or becomes “under-capitalized” for purposes of the “prompt corrective action” regulations of the OCC. Holders of Series I Preferred Stock will have limited voting rights. Holders of the Depositary Shares or the Series I Preferred Stock have no voting rights with respect to matters that generally require the approval of voting stockholders, except as required by law and as provided below under “Description of the Series I Preferred Stock—Voting Rights.” Holders of the Depositary Shares must act through the depositary to exercise any voting rights in respect of the Series I Preferred Stock. Although each depositary share is entitled to 1/40 thof a vote, the depositary can only vote whole shares of Series I Preferred Stock. The depositary will vote the maximum number of whole shares of Series I Preferred Stock in accordance with the instructions it receives; however, any remaining votes of holders of the Depositary Shares will not be voted. General market conditions and unpredictable factors could adversely affect market prices for the Depositary Shares representing interests in the Series I Preferred Stock. There can be no assurance about the market prices for the Depositary Shares. Several factors, many of which are beyond our control, will influence the market value of the Depositary Shares. Factors that might influence the market value of the shares of the Depositary Shares include:

| • |     | whether dividends have been declared and are likely to be declared on the Series I Preferred Stock from time to 
 time;                                                                                                           |

| • |     | our operating performance, financial condition and