Company: CFG-PE
Filing Date: 2025-07-22
Form Type: 424B2
Source: 0001193125-25-162273
Chunk: 41

Company: CITIZENS FINANCIAL GROUP INC/RI
Filing Date: 2025-07-22
Form: 424B2
Chunk 41
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 a binding share exchange or reclassification involving the Series I Preferred Stock or (y) a merger or consolidation of Citizens Financial Group, Inc. with another entity (whether or not a corporation), unless in each case (A) the                
 shares of Series I Preferred Stock remain outstanding or, in the case of any such merger or consolidation with respect to which we are not the surviving or resulting entity, the shares of Series I Preferred Stock are converted into or exchanged for  
 preference securities of the surviving or resulting entity or its ultimate parent, and (B) such shares remaining outstanding or such preference securities, as the case may be, have such rights, preferences, privileges and voting powers, and          
 limitations and restrictions thereof, taken as a whole, as are not materially less favorable to the holders thereof than the rights, preferences, privileges and voting powers, and restrictions and limitations thereof, of the Series I Preferred Stock 
 immediately prior to such consummation, taken as a whole.                                                                                                                                                                                                 |

If an amendment, alteration, repeal, share exchange, reclassification, merger or consolidation described above would adversely affect one or more but not all series of voting preferred stock (including the Series I Preferred Stock for this purpose), then only the series affected and entitled to vote shall vote to the exclusion of all other series of preferred stock. If all series of preferred stock are not equally affected by the proposed amendment, alteration, repeal, share exchange, reclassification, merger or consolidation described above, there shall be required a two-thirdsapproval of each series that will have a diminished status. Without the consent of the holders of the Series I Preferred Stock, so long as such action does not adversely affect the rights, preferences, privileges and voting powers of the Series I Preferred Stock, we may amend, alter, supplement or repeal any terms of the Series I Preferred Stock:

| • |     | to cure any ambiguity, or to cure, correct or supplement any provision contained in the certificate of 
 designations for the Series I Preferred Stock that may be defective or inconsistent; or                |

| • |     | to make any provision with respect to matters or questions arising with respect to the Series I Preferred Stock                                                                      
 that is not inconsistent with the provisions of the certificate of designations, including, without limitation, to reflect any Adjustments following a Benchmark Substitution Event. |

The foregoing voting provisions will not apply if, at or prior to the time when the act with respect to which the vote would otherwise be required shall be effected, all outstanding shares of the Series I Preferred Stock have