Company: CFG-PE
Filing Date: 2025-07-22
Form Type: 424B2
Source: 0001193125-25-162273
Chunk: 60

Company: CITIZENS FINANCIAL GROUP INC/RI
Filing Date: 2025-07-22
Form: 424B2
Chunk 60
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 by reason of certain constructive ownership rules set forth in Section 318 of the Internal Revenue Code, as well as any such shares actually owned, must be taken into account under certain circumstances. If we redeem your Series I Preferred Stock in a redemption that meets one of the tests listed above, you generally would recognize taxable gain or loss equal to the amount of cash received by you less your tax basis in the Series I Preferred Stock redeemed. This gain or loss would be long-term capital gain or capital loss if you have held the Series I Preferred Stock for more than one year. Because the determination as to whether any of the alternative tests listed above is satisfied with respect to any particular holder will depend upon the facts and circumstances as of the time the determination is made, you should consult your tax advisor regarding the treatment of a redemption. If a redemption does not meet any of the tests described above, you generally would be taxed on the cash you receive as a dividend to the extent paid out of our current and accumulated earnings and profits. Any amount S-36

in excess of our current or accumulated earnings and profits would first reduce your tax basis in the Series I Preferred Stock and thereafter would be treated as capital gain. If a redemption of the Series I Preferred Stock is treated as a distribution that is taxable as a dividend, you should consult with your own tax advisor regarding the allocation of your basis between the redeemed shares and any shares of Series I Preferred Stock (or any of our other shares) that you still hold (or are held by a person related to you). Non-U.S.Holders This section summarizes the material U.S. federal income tax consequences of the purchase, ownership and disposition of the Series I Preferred Stock by a non-U.S.holder. You are a non-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:

| • |     | a nonresident alien individual; |

| • |     | a foreign corporation; or |

| • |     | an estate or trust that in either case is not subject to U.S. federal income tax on a net income basis on income 
 or gain from the Series I Preferred Stock.                                                                       |

Distributions on the Series I Preferred Stock Except as described below, if you are a non-U.S.holder of the Series I Preferred Stock, dividends (including any redemption treated as a dividend for U.S. federal income tax purposes as discussed above under “U.S. Holders—Redemption of the Series