Company: CFG-PE
Filing Date: 2025-07-22
Form Type: 424B2
Source: 0001193125-25-162273
Chunk: 27

Company: CITIZENS FINANCIAL GROUP INC/RI
Filing Date: 2025-07-22
Form: 424B2
Chunk 27
---
 after July , 2025 shall accrue dividends from the date they are issued. Any shares of Series I Preferred Stock issued in connection with the exercise by the underwriters of their over-allotment option may be issued within 30 days of the date of this prospectus supplement, and those shares will accrue dividends from the date of original issuance of the Series I Preferred Stock. 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, “junior stock”); |

| • |     | senior to or on a parity with each other series of our preferred stock we may issue (except for any senior series                                                                                                                                  
 that may be issued upon the requisite vote or consent of the holders of at least two thirds of the shares of the Series I Preferred Stock at the time outstanding and entitled to vote, voting together as a single class with any other series of 
 preferred stock entitled to vote thereon (to the exclusion of all other series of preferred stock)) with respect to the payment of dividends and distributions of assets upon any liquidation, dissolution or winding up of the Company; and       |

| • |     | with respect to distributions of assets upon any liquidation, dissolution or winding up of the Company, junior to 
 all existing and future indebtedness and other non-equity claims on us.                                           |

Dividends Holders of Series I Preferred Stock shall be entitled to receive, when, as and if declared by our board (or a duly authorized committee of the board), only out of funds legally available therefor, non-cumulativecash dividends payable quarterly, in arrears, on January 6, April 6, July 6 and October 6 of each year, beginning on January 6, 2026 (long first dividend period), as follows:

| • |     | From the date of original issue to, but excluding, October 6, 2030 (the “