Company: CFG-PE
Filing Date: 2025-07-22
Form Type: 424B2
Source: 0001193125-25-162273
Chunk: 58

Company: CITIZENS FINANCIAL GROUP INC/RI
Filing Date: 2025-07-22
Form: 424B2
Chunk 58
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 accounting for securities holdings; |

| • |     | a bank; |

| • |     | an insurance company; |

| • |     | a thrift institution; |

| • |     | a regulated investment company; |

| • |     | a tax-exempt organization; |

| • |     | a person that purchases or sells the Series I Preferred Stock as part of a wash sale for tax purposes; |

| • |     | a person that owns the Series I Preferred Stock as part of a straddle or a hedging or conversion transaction for 
 tax purposes;                                                                                                    |

| • |     | a U.S. holder (as defined below) whose functional currency for tax purposes is not the U.S. dollar; or |

| • |     | a U.S. expatriate. |

This section is based on the U.S. Internal Revenue Code of 1986, as amended (the “ Internal Revenue Code”), its legislative history, existing and proposed regulations under the Internal Revenue Code, published rulings and court decisions, all as currently in effect. These laws are subject to change, possibly on a retroactive basis. If an entity treated as a partnership for U.S. federal income tax purposes holds the Series I Preferred Stock, the U.S. federal income tax treatment of a partner will generally depend on the status of the partner and the tax treatment of the partnership. A partner in a partnership holding the Series I Preferred Stock should consult its tax advisor with regard to the U.S. federal income tax treatment of an investment in the Series I Preferred Stock. Beneficial owners of Depositary Shares representing shares of the Series I Preferred Stock will be treated as owners of the underlying Series I Preferred Stock for U.S. federal income tax purposes. Exchanges of Series I Preferred Stock for Depositary Shares, and Depositary Shares for Series I Preferred Stock, will generally not be subject to U.S. federal income tax. Please consult your own tax advisor concerning the consequences of owning the Series I Preferred Stock in your particular circumstances under the Internal Revenue Code and the laws of any other taxing jurisdiction. U.S. Holders This subsection describes the tax consequences of an investment in the Series I Preferred Stock to a U.S. holder. You are a U.S. holder if you are a beneficial owner of a share of the Series I Preferred Stock and you are, for U.S. federal income tax purposes:

| • |     | an individual citizen or resident of the United States; |

S-35

| • |     | a domestic