Company: CFG-PE
Filing Date: 2025-03-10
Form Type: DEF 14A
Source: 0000759944-25-000044
Chunk: 60

Company: CITIZENS FINANCIAL GROUP INC/RI
Filing Date: 2025-03-10
Form: DEF 14A
Chunk 60
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 outstanding share of common stock. We define “EPS” as net income divided by weighted average diluted common shares outstanding, as reported on an Underlying basis consistent with our external earnings reporting.*

• ROTCE : Return on average tangible common equity measures profitability by showing how much profit we generate (net income) with the money our shareholders have invested. We define “ROTCE” as net income available to common shareholders divided by average common equity excluding average goodwill (net of related deferred tax liabilities) and average other intangible assets, as reported on an Underlying basis consistent with our external earnings reporting.* Starting with 2023 grants, ROTCE targets contemplate adjusted Other Comprehensive Income ("OCI") because the related adjustments help to neutralize movement solely related to the rate curve.

* See Appendix A for information on Non-GAAP Financial Measures and Reconciliations and their calculation or reconciliation to GAAP financial measures.

| 50%               
 3-Year Cumulative 
 EPS               |     |                 |     |                            |     | Top Quartile 
 3-Year TSR:  
 120%         
 of Payout    |     |                |
|                   |     |                 |     | Peer Relative TSR Modifier |     |              |     | Award Payout % |
| 50%               
 3-Year Average    
 ROTCE             |     |                 |     |                            |     |              |     |                |
|                   |     | Bottom Quartile 
 3-Year TSR:     
 80%             
 of Payout       |     |                            |     |              |     |                |

Targets for EPS and ROTCE for our annual PSU awards are set by the Compensation and HR Committee, together with management, in February of the year of grant.

PSU Performance Metrics for the 2025-2027 Performance Period

The threshold and maximum EPS and ROTCE performance levels relating to PSU awards granted in March 2025 for performance during 2025-2027 are set forth below.

| Metric                |     | 2025 PSU Awards |     |        |
| Threshold             |     |         Maximum |     |        |
| 3-Year Average ROTCE  |     |           6.48% |     | 14.57% |
| 3-Year Cumulative EPS |     |           $7.58 |     | $18.05 |

The Company considers multiple factors in establishing the performance ranges. In setting the performance range for 2025 PSUs, the Company referred to its business plan for those years. With