Company: CFG-PE
Filing Date: 2025-07-22
Form Type: 424B2
Source: 0001193125-25-162273
Chunk: 57

Company: CITIZENS FINANCIAL GROUP INC/RI
Filing Date: 2025-07-22
Form: 424B2
Chunk 57
---
 be reported to the relevant Euroclear or Clearstream participant, during the securities settlement processing day (which must be a business day for Euroclear or
Clearstream) immediately following the settlement date of DTC. Cash received in Euroclear or Clearstream as a result of sales of interests in Depositary Shares by or through a Euroclear or Clearstream participant to a DTC participant will be
received with value on the settlement date of DTC but will be available in the relevant Euroclear or Clearstream cash account only as of the business day for Euroclear or Clearstream following DTC’s settlement date.

The information in this section concerning Euroclear and Clearstream and their book-entry systems has been obtained from sources that we
believe to be reliable, but we take no responsibility for the accuracy of that information.

None of us, any of the underwriters or the
depositary will have any responsibility for the performance by Euroclear or Clearstream or their respective participants of their respective obligations under the rules and procedures governing their operations.

Although DTC, Clearstream and Euroclear have agreed to the foregoing procedures in order to facilitate transfers of securities among
participants of DTC, Clearstream and Euroclear, they are under no obligation to perform or continue to perform such procedures and they may discontinue the procedures at any time.

S-34

MATERIAL U.S. FEDERAL INCOME TAX CONSIDERATIONS This section describes the material U.S. federal income tax consequences relevant to the purchase, ownership and disposition of the Series I Preferred Stock and the Depositary Shares representing shares of such Series I Preferred Stock. When we refer to Series I Preferred Stock in this section, we mean both the Series I Preferred Stock and the Depositary Shares representing shares of such Series I Preferred Stock. This section addresses only U.S. federal income taxation and does not address all of the tax consequences that may be relevant in light of a taxpayer’s individual circumstances, including foreign, state or local tax consequences, and tax consequences arising under the Medicare contribution tax on net investment income or alternative minimum taxes. The summary is limited to taxpayers who will hold the Series I Preferred Stock as “capital assets” and who purchase the Series I Preferred Stock in the initial offering at the initial offering price. This section does not apply to you if you are a member of a class of holders subject to special rules, including:

| • |     | a dealer in securities; |

| • |     | a trader in securities that elects to use a                  
 mark-to-market method of