Company: CFG-PE
Filing Date: 2025-07-22
Form Type: 424B2
Source: 0001193125-25-162273
Chunk: 34

Company: CITIZENS FINANCIAL GROUP INC/RI
Filing Date: 2025-07-22
Form: 424B2
Chunk 34
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 holder of record of the redeemed shares on such record date relating to the applicable dividend payment date. Notwithstanding the foregoing, we may not redeem shares of Series I Preferred Stock without having received the
prior approval of the “appropriate federal banking agency” with respect to us, as defined in Section 3(q) of the Federal Deposit Insurance Act, or any successor provision (the “appropriate federal banking agency”), if
then required under capital rules applicable to us.

A “Regulatory Capital Treatment Event” means the good faith
determination by us that, as a result of (i) any amendment to, or change in, the laws, rules or regulations of the United States (including, for the avoidance of doubt, any agency or instrumentality of the United States, including the FRB and
other federal bank regulatory agencies) or any political subdivision of or in the United States that is enacted or becomes effective after the initial issuance of any share of Series I Preferred Stock, (ii) any proposed change in those laws,
rules or regulations that is announced or becomes effective after the initial issuance of any share of Series I Preferred Stock, or (iii) any official administrative decision or judicial decision or administrative action or other official
pronouncement interpreting or applying those laws, rules or regulations or policies with respect thereto that is announced after the initial issuance of any share of Series I Preferred Stock, there is more than an insubstantial risk that we will not
be entitled to treat the full stated amount of $1,000 per share of Series I Preferred Stock then outstanding as “Tier 1 capital” (or its equivalent) for purposes of the capital adequacy rules of the FRB (or, as and if applicable, the
capital adequacy rules or regulations of any successor appropriate federal banking agency) as then in effect and applicable, for so long as any share of Series I Preferred Stock is outstanding.

In case of any redemption of only part of the shares of Series I Preferred Stock at the time outstanding, the shares to be redeemed shall be
selected either pro rata from the holders of record of Series I Preferred Stock in proportion to the number of shares of Series I Preferred Stock held by such holders or by lot. Subject to the provisions hereof, our board (or a duly
authorized committee of the board) shall have full power and authority to prescribe the terms and conditions on which shares of Series I Preferred Stock shall be redeemed from time to time. If we shall have issued certificates for the Series I
Preferred Stock and fewer than