Company: CFG-PE
Filing Date: 2025-07-22
Form Type: 424B2
Source: 0001193125-25-162273
Chunk: 28

Company: CITIZENS FINANCIAL GROUP INC/RI
Filing Date: 2025-07-22
Form: 424B2
Chunk 28
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first dividend reset                                     
 date”), dividends will be payable on the stated amount of $1,000 per share at a rate of   % per annum (the “initial fixed rate”). |

S-16

| • |     | From and including the first dividend reset date, for each dividend reset period (as defined below), dividends                                                                                                                     
 will be payable on the stated amount of $1,000 per share at a rate equal to the Five-year U.S. Treasury Rate (as defined below) as of the most recent reset dividend determination date (as defined below) plus   % per annum (the 
 “spread”).                                                                                                                                                                                                                         |

Each date on which dividends are payable pursuant to the foregoing clauses is a “ dividend payment date,” and dividends for each dividend payment date are payable with respect to the dividend period (or portion thereof) ending on the day preceding such respective dividend payment date, in each case to holders of record on the 15th calendar day before such dividend payment date or such other record date not more than 30 nor less than 10 days preceding such dividend payment date fixed for that purpose by our board (or a duly authorized committee of the board) in advance of payment of each particular dividend. If any such date is not a business day, then such date will nevertheless be a dividend payment date, but dividends on the Series I Preferred Stock, when, as and if declared, will be paid on the next succeeding business day (without adjustment in the amount of the dividend per share of Series I Preferred Stock). We will not pay interest or any sum of money instead of interests on any dividend payment date that may be in arrears on the Series I Preferred Stock. “ Dividend period” means each period from and including a dividend payment date (except that the initial dividend period shall commence on and include the date of original issue of the Series I Preferred Stock) and continuing to but not including the next succeeding dividend payment date. A “ business day” means any day, other than a Saturday or Sunday, that is neither a legal holiday nor a day on which banking institutions are authorized or required by law or regulation to close in The City of New York. The amount of the dividend per share of the Series I Preferred Stock will be calculated for each dividend period (or portion thereof) on the basis of a 360-dayyear consisting of twelve 30-daymonths. Dividends on shares of the Series I Preferred Stock will not be cumulative and will not be mandatory. If our board