Company: CFG-PE
Filing Date: 2025-07-23
Form Type: 424B2
Source: 0001193125-25-163534
Chunk: 27

Company: CITIZENS FINANCIAL GROUP INC/RI
Filing Date: 2025-07-23
Form: 424B2
Chunk 27
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 share is $1,000. The number of authorized shares may from time to time be increased (but not in excess of the total number of authorized shares of preferred stock, less all shares of any other series of preferred stock
authorized at the time of such increase) or decreased (but not below the number of shares of Series I Preferred

S-15

Stock then outstanding) by resolution of the board (or a duly authorized committee of the board), without the vote or consent of the holders of the Series I Preferred Stock. Shares of Series I Preferred Stock that are redeemed, purchased or otherwise acquired by us will be cancelled and shall revert to authorized but unissued shares of preferred stock undesignated as to series. We have the authority to issue fractional shares of Series I Preferred Stock. We reserve the right to re-openthis series and issue additional shares of Series I Preferred Stock and the related Depositary Shares either through public or private sales at any time and from time to time without notice to or the consent of holders of Series I Preferred Stock, providedthat such additional shares of Series I Preferred Stock and related Depositary Shares may only be issued on a dividend payment date and shall accrue dividends from the date they are issued, and such additional shares of Series I Preferred Stock and related Depositary Shares will only be issued if they are fungible with the original shares for tax purposes. The additional shares of Series I Preferred Stock and related Depositary Shares would be deemed to form a single series with the Series I Preferred Stock and the related Depositary Shares, respectively, offered by this prospectus supplement. Each share of Series I Preferred Stock shall be identical in all respects to every other share of Series I Preferred Stock, except that shares of Series I Preferred Stock issued after July 31, 2025 shall accrue dividends from the date they are issued. References to the “accrual” of dividends in this prospectus supplement refer only to the determination of the amount of such dividend and do not imply that any right to a dividend arises prior to the date on which a dividend is declared. Ranking With respect to the payment of dividends and distributions of assets upon any liquidation, dissolution or winding up of the Company, the Series I Preferred Stock will rank:

| • |     | senior to our common stock and any other class or series of our stock that ranks junior to the Series I Preferred                                                 
 Stock in the payment of dividends or in the distribution of assets upon the liquidation, dissolution or winding up of the Company (collectively, “