# EDGAR Filing Document

**Accession Number:** 0000759944
**File Stem:** 0000759944-25-000099
**Filing Date:** 2025-7
**Character Count:** 280962
**Document Hash:** 35762b4d6b029a1e725ad71ad8305b5a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000759944-25-000099.hdr.sgml**: 20250717

**ACCESSION NUMBER**: 0000759944-25-000099

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 60

**CONFORMED PERIOD OF REPORT**: 20250717

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250717

**DATE AS OF CHANGE**: 20250717

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** CITIZENS FINANCIAL GROUP INC/RI
- **CENTRAL INDEX KEY:** 0000759944
- **STANDARD INDUSTRIAL CLASSIFICATION:** STATE COMMERCIAL BANKS [6022]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 050412693
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-36636
- **FILM NUMBER:** 251128775

**BUSINESS ADDRESS:**
- **STREET 1:** 1 CITIZENS PLAZA
- **CITY:** PROVIDENCE
- **STATE:** RI
- **ZIP:** 02903
- **BUSINESS PHONE:** 2039006715

**MAIL ADDRESS:**
- **STREET 1:** 1 CITIZENS PLAZA
- **CITY:** PROVIDENCE
- **STATE:** RI
- **ZIP:** 02903

?xml version='1.0' encoding='ASCII'? cfg-20250717

    

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

 

**FORM 8-K** 

**CURRENT REPORT**

**PURSUANT TO SECTION 13 OR 15(d)**

**OF THE SECURITIES EXCHANGE ACT OF 1934**

Date of Report (Date of earliest event reported): July 17, 2025

![citizenslogoa05.jpg](cfg-20250717_g1.jpg)

(Exact name of the registrant as specified in its charter)

---

| | | | |
|:---|:---|:---|:---|
| Delaware | Delaware | 001-36636 | 05-0412693 |
| (State or Other Jurisdiction of<br>Incorporation) | (State or Other Jurisdiction of<br>Incorporation) | (Commission File Number) | (I.R.S. Employer<br>Identification Number) |
| One Citizens Plaza | One Citizens Plaza | | |
| Providence, | RI | | 02903 |
| (Address of principal executive offices) | (Address of principal executive offices) | | (Zip Code) |

---

Registrant's telephone number, including area code: (203) 900-6715

Not Applicable

(Former name or former address, if changed since last report.)

**Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:**

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

**Securities registered pursuant to Section 12(b) of the Act:**

---

| | | |
|:---|:---|:---|
| **<u>Title of each class</u>** | **<u>Trading symbol(s)</u>** | **<u>Name of each exchange on which registered</u>** |
| **Common stock, $0.01 par value per share** | **CFG** | **New York Stock Exchange** |
| **Depositary Shares, each representing a 1/40th interest in a share of 5.000% Fixed-Rate Non-Cumulative Perpetual Preferred Stock, Series E** | **CFG PrE** | **New York Stock Exchange** |
| **Depositary Shares, each representing a 1/40th interest in a share of 7.375% Fixed-Rate Non-Cumulative Perpetual Preferred Stock, Series H** | **CFG PrH** | **New York Stock Exchange** |

---

------

**Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 under the Securities Act (17 CFR 230.405) or Rule 12b-2 under the Exchange Act (17 CFR 240.12b-2).**

**Emerging growth company** ☐

**If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.** ☐

**Item 2.02 Results of Operations and Financial Condition.**

On July 17, 2025, Citizens Financial Group, Inc. (the "Company") issued a press release announcing its second quarter 2025 earnings and posted on its website the press release and a financial supplement. Copies of the press release and financial supplement are being furnished as Exhibits 99.1 and 99.3, respectively.

**Item 7.01 Regulation FD Disclosure.**

For the benefit of investors, the Company has posted on its website an investor presentation in connection with its earnings conference call. A copy of the investor presentation is being furnished as Exhibit 99.2.

The information in this Form 8-K and Exhibits attached hereto are being furnished pursuant to Items 2.02 and 7.01, respectively, and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall this information be deemed incorporated by reference into any filings under the Securities Act of 1933, as amended.

**Item 9.01 Financial Statements and Exhibits.**

---

| | | |
|:---|:---|:---|
| | **<u>Exhibit Number</u>** | **<u>Description</u>** |
| **(d)** | Exhibit 99.1 | <u>[Citizens Financial Group, Inc. press release dated](a2q25earningsrelease.htm)[July](a2q25earningsrelease.htm)[1](a2q25earningsrelease.htm)[7](a2q25earningsrelease.htm)[, 2025](a2q25earningsrelease.htm)</u> |
|  | Exhibit 99.2 | <u>[Citizens Financial Group, Inc. earnings release presentation issued](cfg2q25earningspresentat.htm)[July](cfg2q25earningspresentat.htm)[1](cfg2q25earningspresentat.htm)[7](cfg2q25earningspresentat.htm)[, 2025](cfg2q25earningspresentat.htm)</u> |
|  | Exhibit 99.3 | <u>[Citizens Financial Group, Inc. financial supplement for](q225financialsupplement.htm)[second](q225financialsupplement.htm)[quarter 2025](q225financialsupplement.htm)</u> |
|  | Exhibit 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

---

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | |
|:---|:---|
| CITIZENS FINANCIAL GROUP, INC. | CITIZENS FINANCIAL GROUP, INC. |
| By: | /s/ John F. Woods |
|  | John F. Woods |
|  | Vice Chair and Chief Financial Officer |

---

Date: July 17, 2025

## Exhibit 99.1

![citizenslogoa05.jpg](citizenslogoa05.jpg)

**Citizens Financial Group, Inc. Reports Second Quarter 2025 Net Income of** 

**$436 million and EPS of $0.92**

**Sequential NII Growth of 3%, Fee Growth of 10%, Positive Operating Leverage of ~5%**

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **Key Financial Data** | | **2Q25** | **1Q25** | **2Q24** | | **Second Quarter 2025 Highlights**  |
| **Income <br>Statement** |  | *($s in millions)* |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;■EPS of $0.92, up $0.15 QoQ<br>–Strong revenue performance, disciplined expense management<br>–Continued strong Private Bank progress, contributing $0.06 to EPS, up $0.02 QoQ<br>■PPNR of $718 million, up 16% QoQ <br>–NII up 3.3%, reflects NIM up 5 bps to 2.95%, and interest-earning assets up 1%<br>–Strong fee performance led by Card, Wealth and Mortgage; Capital Markets saw a modest increase driven by equity underwriting and loan syndications, partly offset by delayed M&A closings<br>–Expenses broadly flat; positive operating leverage of ~5%; efficiency ratio improved to 64.8%<br>■Loans up 1% QoQ on a spot basis with growth across the Private Bank, Commercial and Consumer<br>■Net charge-offs of 48 bps, down slightly QoQ with favorable trends in NPAs, down 4%<br>■Strong ACL coverage of 1.59%, broadly stable QoQ; reflects improving loan mix<br>■Average deposits up 1% QoQ with growth in lower-cost categories, partially offset by a reduction in higher-cost Treasury brokered deposits<br>■Strong liquidity profile; spot LDR of 79.6%; pro forma LCR well exceeds Category I Bank requirement of 100% <br>■Strong CET1 ratio of 10.6%<br>■TBV/share of $35.23, up 4% QoQ |
| **Income <br>Statement** |  | Total revenue |  | $2037 | $1935 | $1963 |  | &nbsp;&nbsp;&nbsp;&nbsp;■EPS of $0.92, up $0.15 QoQ<br>–Strong revenue performance, disciplined expense management<br>–Continued strong Private Bank progress, contributing $0.06 to EPS, up $0.02 QoQ<br>■PPNR of $718 million, up 16% QoQ <br>–NII up 3.3%, reflects NIM up 5 bps to 2.95%, and interest-earning assets up 1%<br>–Strong fee performance led by Card, Wealth and Mortgage; Capital Markets saw a modest increase driven by equity underwriting and loan syndications, partly offset by delayed M&A closings<br>–Expenses broadly flat; positive operating leverage of ~5%; efficiency ratio improved to 64.8%<br>■Loans up 1% QoQ on a spot basis with growth across the Private Bank, Commercial and Consumer<br>■Net charge-offs of 48 bps, down slightly QoQ with favorable trends in NPAs, down 4%<br>■Strong ACL coverage of 1.59%, broadly stable QoQ; reflects improving loan mix<br>■Average deposits up 1% QoQ with growth in lower-cost categories, partially offset by a reduction in higher-cost Treasury brokered deposits<br>■Strong liquidity profile; spot LDR of 79.6%; pro forma LCR well exceeds Category I Bank requirement of 100% <br>■Strong CET1 ratio of 10.6%<br>■TBV/share of $35.23, up 4% QoQ |
| **Income <br>Statement** |  | Pre-provision profit |  | 718 | 621 | 662 |  | &nbsp;&nbsp;&nbsp;&nbsp;■EPS of $0.92, up $0.15 QoQ<br>–Strong revenue performance, disciplined expense management<br>–Continued strong Private Bank progress, contributing $0.06 to EPS, up $0.02 QoQ<br>■PPNR of $718 million, up 16% QoQ <br>–NII up 3.3%, reflects NIM up 5 bps to 2.95%, and interest-earning assets up 1%<br>–Strong fee performance led by Card, Wealth and Mortgage; Capital Markets saw a modest increase driven by equity underwriting and loan syndications, partly offset by delayed M&A closings<br>–Expenses broadly flat; positive operating leverage of ~5%; efficiency ratio improved to 64.8%<br>■Loans up 1% QoQ on a spot basis with growth across the Private Bank, Commercial and Consumer<br>■Net charge-offs of 48 bps, down slightly QoQ with favorable trends in NPAs, down 4%<br>■Strong ACL coverage of 1.59%, broadly stable QoQ; reflects improving loan mix<br>■Average deposits up 1% QoQ with growth in lower-cost categories, partially offset by a reduction in higher-cost Treasury brokered deposits<br>■Strong liquidity profile; spot LDR of 79.6%; pro forma LCR well exceeds Category I Bank requirement of 100% <br>■Strong CET1 ratio of 10.6%<br>■TBV/share of $35.23, up 4% QoQ |
| **Income <br>Statement** |  | Underlying pre-provision profit |  | 718 | 621 | 694 |  | &nbsp;&nbsp;&nbsp;&nbsp;■EPS of $0.92, up $0.15 QoQ<br>–Strong revenue performance, disciplined expense management<br>–Continued strong Private Bank progress, contributing $0.06 to EPS, up $0.02 QoQ<br>■PPNR of $718 million, up 16% QoQ <br>–NII up 3.3%, reflects NIM up 5 bps to 2.95%, and interest-earning assets up 1%<br>–Strong fee performance led by Card, Wealth and Mortgage; Capital Markets saw a modest increase driven by equity underwriting and loan syndications, partly offset by delayed M&A closings<br>–Expenses broadly flat; positive operating leverage of ~5%; efficiency ratio improved to 64.8%<br>■Loans up 1% QoQ on a spot basis with growth across the Private Bank, Commercial and Consumer<br>■Net charge-offs of 48 bps, down slightly QoQ with favorable trends in NPAs, down 4%<br>■Strong ACL coverage of 1.59%, broadly stable QoQ; reflects improving loan mix<br>■Average deposits up 1% QoQ with growth in lower-cost categories, partially offset by a reduction in higher-cost Treasury brokered deposits<br>■Strong liquidity profile; spot LDR of 79.6%; pro forma LCR well exceeds Category I Bank requirement of 100% <br>■Strong CET1 ratio of 10.6%<br>■TBV/share of $35.23, up 4% QoQ |
| **Income <br>Statement** |  | Provision for credit losses |  | 164 | 153 | 182 |  | &nbsp;&nbsp;&nbsp;&nbsp;■EPS of $0.92, up $0.15 QoQ<br>–Strong revenue performance, disciplined expense management<br>–Continued strong Private Bank progress, contributing $0.06 to EPS, up $0.02 QoQ<br>■PPNR of $718 million, up 16% QoQ <br>–NII up 3.3%, reflects NIM up 5 bps to 2.95%, and interest-earning assets up 1%<br>–Strong fee performance led by Card, Wealth and Mortgage; Capital Markets saw a modest increase driven by equity underwriting and loan syndications, partly offset by delayed M&A closings<br>–Expenses broadly flat; positive operating leverage of ~5%; efficiency ratio improved to 64.8%<br>■Loans up 1% QoQ on a spot basis with growth across the Private Bank, Commercial and Consumer<br>■Net charge-offs of 48 bps, down slightly QoQ with favorable trends in NPAs, down 4%<br>■Strong ACL coverage of 1.59%, broadly stable QoQ; reflects improving loan mix<br>■Average deposits up 1% QoQ with growth in lower-cost categories, partially offset by a reduction in higher-cost Treasury brokered deposits<br>■Strong liquidity profile; spot LDR of 79.6%; pro forma LCR well exceeds Category I Bank requirement of 100% <br>■Strong CET1 ratio of 10.6%<br>■TBV/share of $35.23, up 4% QoQ |
| **Income <br>Statement** |  | Net income |  | 436 | 373 | 392 |  | &nbsp;&nbsp;&nbsp;&nbsp;■EPS of $0.92, up $0.15 QoQ<br>–Strong revenue performance, disciplined expense management<br>–Continued strong Private Bank progress, contributing $0.06 to EPS, up $0.02 QoQ<br>■PPNR of $718 million, up 16% QoQ <br>–NII up 3.3%, reflects NIM up 5 bps to 2.95%, and interest-earning assets up 1%<br>–Strong fee performance led by Card, Wealth and Mortgage; Capital Markets saw a modest increase driven by equity underwriting and loan syndications, partly offset by delayed M&A closings<br>–Expenses broadly flat; positive operating leverage of ~5%; efficiency ratio improved to 64.8%<br>■Loans up 1% QoQ on a spot basis with growth across the Private Bank, Commercial and Consumer<br>■Net charge-offs of 48 bps, down slightly QoQ with favorable trends in NPAs, down 4%<br>■Strong ACL coverage of 1.59%, broadly stable QoQ; reflects improving loan mix<br>■Average deposits up 1% QoQ with growth in lower-cost categories, partially offset by a reduction in higher-cost Treasury brokered deposits<br>■Strong liquidity profile; spot LDR of 79.6%; pro forma LCR well exceeds Category I Bank requirement of 100% <br>■Strong CET1 ratio of 10.6%<br>■TBV/share of $35.23, up 4% QoQ |
| **Income <br>Statement** |  | Underlying net income |  | 436 | 373 | 408 |  | &nbsp;&nbsp;&nbsp;&nbsp;■EPS of $0.92, up $0.15 QoQ<br>–Strong revenue performance, disciplined expense management<br>–Continued strong Private Bank progress, contributing $0.06 to EPS, up $0.02 QoQ<br>■PPNR of $718 million, up 16% QoQ <br>–NII up 3.3%, reflects NIM up 5 bps to 2.95%, and interest-earning assets up 1%<br>–Strong fee performance led by Card, Wealth and Mortgage; Capital Markets saw a modest increase driven by equity underwriting and loan syndications, partly offset by delayed M&A closings<br>–Expenses broadly flat; positive operating leverage of ~5%; efficiency ratio improved to 64.8%<br>■Loans up 1% QoQ on a spot basis with growth across the Private Bank, Commercial and Consumer<br>■Net charge-offs of 48 bps, down slightly QoQ with favorable trends in NPAs, down 4%<br>■Strong ACL coverage of 1.59%, broadly stable QoQ; reflects improving loan mix<br>■Average deposits up 1% QoQ with growth in lower-cost categories, partially offset by a reduction in higher-cost Treasury brokered deposits<br>■Strong liquidity profile; spot LDR of 79.6%; pro forma LCR well exceeds Category I Bank requirement of 100% <br>■Strong CET1 ratio of 10.6%<br>■TBV/share of $35.23, up 4% QoQ |
| **Income <br>Statement** |  |  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;■EPS of $0.92, up $0.15 QoQ<br>–Strong revenue performance, disciplined expense management<br>–Continued strong Private Bank progress, contributing $0.06 to EPS, up $0.02 QoQ<br>■PPNR of $718 million, up 16% QoQ <br>–NII up 3.3%, reflects NIM up 5 bps to 2.95%, and interest-earning assets up 1%<br>–Strong fee performance led by Card, Wealth and Mortgage; Capital Markets saw a modest increase driven by equity underwriting and loan syndications, partly offset by delayed M&A closings<br>–Expenses broadly flat; positive operating leverage of ~5%; efficiency ratio improved to 64.8%<br>■Loans up 1% QoQ on a spot basis with growth across the Private Bank, Commercial and Consumer<br>■Net charge-offs of 48 bps, down slightly QoQ with favorable trends in NPAs, down 4%<br>■Strong ACL coverage of 1.59%, broadly stable QoQ; reflects improving loan mix<br>■Average deposits up 1% QoQ with growth in lower-cost categories, partially offset by a reduction in higher-cost Treasury brokered deposits<br>■Strong liquidity profile; spot LDR of 79.6%; pro forma LCR well exceeds Category I Bank requirement of 100% <br>■Strong CET1 ratio of 10.6%<br>■TBV/share of $35.23, up 4% QoQ |
| **Income <br>Statement** | **Balance Sheet <br>&<br>Credit Quality** |  | *($s in billions)* |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;■EPS of $0.92, up $0.15 QoQ<br>–Strong revenue performance, disciplined expense management<br>–Continued strong Private Bank progress, contributing $0.06 to EPS, up $0.02 QoQ<br>■PPNR of $718 million, up 16% QoQ <br>–NII up 3.3%, reflects NIM up 5 bps to 2.95%, and interest-earning assets up 1%<br>–Strong fee performance led by Card, Wealth and Mortgage; Capital Markets saw a modest increase driven by equity underwriting and loan syndications, partly offset by delayed M&A closings<br>–Expenses broadly flat; positive operating leverage of ~5%; efficiency ratio improved to 64.8%<br>■Loans up 1% QoQ on a spot basis with growth across the Private Bank, Commercial and Consumer<br>■Net charge-offs of 48 bps, down slightly QoQ with favorable trends in NPAs, down 4%<br>■Strong ACL coverage of 1.59%, broadly stable QoQ; reflects improving loan mix<br>■Average deposits up 1% QoQ with growth in lower-cost categories, partially offset by a reduction in higher-cost Treasury brokered deposits<br>■Strong liquidity profile; spot LDR of 79.6%; pro forma LCR well exceeds Category I Bank requirement of 100% <br>■Strong CET1 ratio of 10.6%<br>■TBV/share of $35.23, up 4% QoQ |
| **Income <br>Statement** | **Balance Sheet <br>&<br>Credit Quality** |  | Period-end loans and leases |  | $139.3 | $137.6 | $141.8 | &nbsp;&nbsp;&nbsp;&nbsp;■EPS of $0.92, up $0.15 QoQ<br>–Strong revenue performance, disciplined expense management<br>–Continued strong Private Bank progress, contributing $0.06 to EPS, up $0.02 QoQ<br>■PPNR of $718 million, up 16% QoQ <br>–NII up 3.3%, reflects NIM up 5 bps to 2.95%, and interest-earning assets up 1%<br>–Strong fee performance led by Card, Wealth and Mortgage; Capital Markets saw a modest increase driven by equity underwriting and loan syndications, partly offset by delayed M&A closings<br>–Expenses broadly flat; positive operating leverage of ~5%; efficiency ratio improved to 64.8%<br>■Loans up 1% QoQ on a spot basis with growth across the Private Bank, Commercial and Consumer<br>■Net charge-offs of 48 bps, down slightly QoQ with favorable trends in NPAs, down 4%<br>■Strong ACL coverage of 1.59%, broadly stable QoQ; reflects improving loan mix<br>■Average deposits up 1% QoQ with growth in lower-cost categories, partially offset by a reduction in higher-cost Treasury brokered deposits<br>■Strong liquidity profile; spot LDR of 79.6%; pro forma LCR well exceeds Category I Bank requirement of 100% <br>■Strong CET1 ratio of 10.6%<br>■TBV/share of $35.23, up 4% QoQ |
| **Income <br>Statement** | **Balance Sheet <br>&<br>Credit Quality** |  | Average loans and leases |  | 138.8 | 139.7 | 143.1 | &nbsp;&nbsp;&nbsp;&nbsp;■EPS of $0.92, up $0.15 QoQ<br>–Strong revenue performance, disciplined expense management<br>–Continued strong Private Bank progress, contributing $0.06 to EPS, up $0.02 QoQ<br>■PPNR of $718 million, up 16% QoQ <br>–NII up 3.3%, reflects NIM up 5 bps to 2.95%, and interest-earning assets up 1%<br>–Strong fee performance led by Card, Wealth and Mortgage; Capital Markets saw a modest increase driven by equity underwriting and loan syndications, partly offset by delayed M&A closings<br>–Expenses broadly flat; positive operating leverage of ~5%; efficiency ratio improved to 64.8%<br>■Loans up 1% QoQ on a spot basis with growth across the Private Bank, Commercial and Consumer<br>■Net charge-offs of 48 bps, down slightly QoQ with favorable trends in NPAs, down 4%<br>■Strong ACL coverage of 1.59%, broadly stable QoQ; reflects improving loan mix<br>■Average deposits up 1% QoQ with growth in lower-cost categories, partially offset by a reduction in higher-cost Treasury brokered deposits<br>■Strong liquidity profile; spot LDR of 79.6%; pro forma LCR well exceeds Category I Bank requirement of 100% <br>■Strong CET1 ratio of 10.6%<br>■TBV/share of $35.23, up 4% QoQ |
| **Income <br>Statement** | **Balance Sheet <br>&<br>Credit Quality** |  | Period-end deposits |  | 175.1 | 177.6 | 176.4 | &nbsp;&nbsp;&nbsp;&nbsp;■EPS of $0.92, up $0.15 QoQ<br>–Strong revenue performance, disciplined expense management<br>–Continued strong Private Bank progress, contributing $0.06 to EPS, up $0.02 QoQ<br>■PPNR of $718 million, up 16% QoQ <br>–NII up 3.3%, reflects NIM up 5 bps to 2.95%, and interest-earning assets up 1%<br>–Strong fee performance led by Card, Wealth and Mortgage; Capital Markets saw a modest increase driven by equity underwriting and loan syndications, partly offset by delayed M&A closings<br>–Expenses broadly flat; positive operating leverage of ~5%; efficiency ratio improved to 64.8%<br>■Loans up 1% QoQ on a spot basis with growth across the Private Bank, Commercial and Consumer<br>■Net charge-offs of 48 bps, down slightly QoQ with favorable trends in NPAs, down 4%<br>■Strong ACL coverage of 1.59%, broadly stable QoQ; reflects improving loan mix<br>■Average deposits up 1% QoQ with growth in lower-cost categories, partially offset by a reduction in higher-cost Treasury brokered deposits<br>■Strong liquidity profile; spot LDR of 79.6%; pro forma LCR well exceeds Category I Bank requirement of 100% <br>■Strong CET1 ratio of 10.6%<br>■TBV/share of $35.23, up 4% QoQ |
|  | **Balance Sheet <br>&<br>Credit Quality** | Average deposits |  | 174.1 | 172.7 | 173.7 |  | &nbsp;&nbsp;&nbsp;&nbsp;■EPS of $0.92, up $0.15 QoQ<br>–Strong revenue performance, disciplined expense management<br>–Continued strong Private Bank progress, contributing $0.06 to EPS, up $0.02 QoQ<br>■PPNR of $718 million, up 16% QoQ <br>–NII up 3.3%, reflects NIM up 5 bps to 2.95%, and interest-earning assets up 1%<br>–Strong fee performance led by Card, Wealth and Mortgage; Capital Markets saw a modest increase driven by equity underwriting and loan syndications, partly offset by delayed M&A closings<br>–Expenses broadly flat; positive operating leverage of ~5%; efficiency ratio improved to 64.8%<br>■Loans up 1% QoQ on a spot basis with growth across the Private Bank, Commercial and Consumer<br>■Net charge-offs of 48 bps, down slightly QoQ with favorable trends in NPAs, down 4%<br>■Strong ACL coverage of 1.59%, broadly stable QoQ; reflects improving loan mix<br>■Average deposits up 1% QoQ with growth in lower-cost categories, partially offset by a reduction in higher-cost Treasury brokered deposits<br>■Strong liquidity profile; spot LDR of 79.6%; pro forma LCR well exceeds Category I Bank requirement of 100% <br>■Strong CET1 ratio of 10.6%<br>■TBV/share of $35.23, up 4% QoQ |
|  | **Balance Sheet <br>&<br>Credit Quality** | Period-end loan-to-deposit ratio |  | 79.6% | 77.5% | 80.4% |  | &nbsp;&nbsp;&nbsp;&nbsp;■EPS of $0.92, up $0.15 QoQ<br>–Strong revenue performance, disciplined expense management<br>–Continued strong Private Bank progress, contributing $0.06 to EPS, up $0.02 QoQ<br>■PPNR of $718 million, up 16% QoQ <br>–NII up 3.3%, reflects NIM up 5 bps to 2.95%, and interest-earning assets up 1%<br>–Strong fee performance led by Card, Wealth and Mortgage; Capital Markets saw a modest increase driven by equity underwriting and loan syndications, partly offset by delayed M&A closings<br>–Expenses broadly flat; positive operating leverage of ~5%; efficiency ratio improved to 64.8%<br>■Loans up 1% QoQ on a spot basis with growth across the Private Bank, Commercial and Consumer<br>■Net charge-offs of 48 bps, down slightly QoQ with favorable trends in NPAs, down 4%<br>■Strong ACL coverage of 1.59%, broadly stable QoQ; reflects improving loan mix<br>■Average deposits up 1% QoQ with growth in lower-cost categories, partially offset by a reduction in higher-cost Treasury brokered deposits<br>■Strong liquidity profile; spot LDR of 79.6%; pro forma LCR well exceeds Category I Bank requirement of 100% <br>■Strong CET1 ratio of 10.6%<br>■TBV/share of $35.23, up 4% QoQ |
|  | **Balance Sheet <br>&<br>Credit Quality** | NCO ratio |  | 0.48% | 0.58% | 0.52% |  | &nbsp;&nbsp;&nbsp;&nbsp;■EPS of $0.92, up $0.15 QoQ<br>–Strong revenue performance, disciplined expense management<br>–Continued strong Private Bank progress, contributing $0.06 to EPS, up $0.02 QoQ<br>■PPNR of $718 million, up 16% QoQ <br>–NII up 3.3%, reflects NIM up 5 bps to 2.95%, and interest-earning assets up 1%<br>–Strong fee performance led by Card, Wealth and Mortgage; Capital Markets saw a modest increase driven by equity underwriting and loan syndications, partly offset by delayed M&A closings<br>–Expenses broadly flat; positive operating leverage of ~5%; efficiency ratio improved to 64.8%<br>■Loans up 1% QoQ on a spot basis with growth across the Private Bank, Commercial and Consumer<br>■Net charge-offs of 48 bps, down slightly QoQ with favorable trends in NPAs, down 4%<br>■Strong ACL coverage of 1.59%, broadly stable QoQ; reflects improving loan mix<br>■Average deposits up 1% QoQ with growth in lower-cost categories, partially offset by a reduction in higher-cost Treasury brokered deposits<br>■Strong liquidity profile; spot LDR of 79.6%; pro forma LCR well exceeds Category I Bank requirement of 100% <br>■Strong CET1 ratio of 10.6%<br>■TBV/share of $35.23, up 4% QoQ |
|  | **Balance Sheet <br>&<br>Credit Quality** |  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;■EPS of $0.92, up $0.15 QoQ<br>–Strong revenue performance, disciplined expense management<br>–Continued strong Private Bank progress, contributing $0.06 to EPS, up $0.02 QoQ<br>■PPNR of $718 million, up 16% QoQ <br>–NII up 3.3%, reflects NIM up 5 bps to 2.95%, and interest-earning assets up 1%<br>–Strong fee performance led by Card, Wealth and Mortgage; Capital Markets saw a modest increase driven by equity underwriting and loan syndications, partly offset by delayed M&A closings<br>–Expenses broadly flat; positive operating leverage of ~5%; efficiency ratio improved to 64.8%<br>■Loans up 1% QoQ on a spot basis with growth across the Private Bank, Commercial and Consumer<br>■Net charge-offs of 48 bps, down slightly QoQ with favorable trends in NPAs, down 4%<br>■Strong ACL coverage of 1.59%, broadly stable QoQ; reflects improving loan mix<br>■Average deposits up 1% QoQ with growth in lower-cost categories, partially offset by a reduction in higher-cost Treasury brokered deposits<br>■Strong liquidity profile; spot LDR of 79.6%; pro forma LCR well exceeds Category I Bank requirement of 100% <br>■Strong CET1 ratio of 10.6%<br>■TBV/share of $35.23, up 4% QoQ |
| **Financial Metrics** |  | Diluted EPS |  | $0.92 | $0.77 | $0.78 |  | &nbsp;&nbsp;&nbsp;&nbsp;■EPS of $0.92, up $0.15 QoQ<br>–Strong revenue performance, disciplined expense management<br>–Continued strong Private Bank progress, contributing $0.06 to EPS, up $0.02 QoQ<br>■PPNR of $718 million, up 16% QoQ <br>–NII up 3.3%, reflects NIM up 5 bps to 2.95%, and interest-earning assets up 1%<br>–Strong fee performance led by Card, Wealth and Mortgage; Capital Markets saw a modest increase driven by equity underwriting and loan syndications, partly offset by delayed M&A closings<br>–Expenses broadly flat; positive operating leverage of ~5%; efficiency ratio improved to 64.8%<br>■Loans up 1% QoQ on a spot basis with growth across the Private Bank, Commercial and Consumer<br>■Net charge-offs of 48 bps, down slightly QoQ with favorable trends in NPAs, down 4%<br>■Strong ACL coverage of 1.59%, broadly stable QoQ; reflects improving loan mix<br>■Average deposits up 1% QoQ with growth in lower-cost categories, partially offset by a reduction in higher-cost Treasury brokered deposits<br>■Strong liquidity profile; spot LDR of 79.6%; pro forma LCR well exceeds Category I Bank requirement of 100% <br>■Strong CET1 ratio of 10.6%<br>■TBV/share of $35.23, up 4% QoQ |
| **Financial Metrics** |  | Underlying Diluted EPS |  | 0.92 | 0.77 | 0.82 |  | &nbsp;&nbsp;&nbsp;&nbsp;■EPS of $0.92, up $0.15 QoQ<br>–Strong revenue performance, disciplined expense management<br>–Continued strong Private Bank progress, contributing $0.06 to EPS, up $0.02 QoQ<br>■PPNR of $718 million, up 16% QoQ <br>–NII up 3.3%, reflects NIM up 5 bps to 2.95%, and interest-earning assets up 1%<br>–Strong fee performance led by Card, Wealth and Mortgage; Capital Markets saw a modest increase driven by equity underwriting and loan syndications, partly offset by delayed M&A closings<br>–Expenses broadly flat; positive operating leverage of ~5%; efficiency ratio improved to 64.8%<br>■Loans up 1% QoQ on a spot basis with growth across the Private Bank, Commercial and Consumer<br>■Net charge-offs of 48 bps, down slightly QoQ with favorable trends in NPAs, down 4%<br>■Strong ACL coverage of 1.59%, broadly stable QoQ; reflects improving loan mix<br>■Average deposits up 1% QoQ with growth in lower-cost categories, partially offset by a reduction in higher-cost Treasury brokered deposits<br>■Strong liquidity profile; spot LDR of 79.6%; pro forma LCR well exceeds Category I Bank requirement of 100% <br>■Strong CET1 ratio of 10.6%<br>■TBV/share of $35.23, up 4% QoQ |
| **Financial Metrics** |  | ROTCE |  | 11.0% | 9.6% | 10.6% |  | &nbsp;&nbsp;&nbsp;&nbsp;■EPS of $0.92, up $0.15 QoQ<br>–Strong revenue performance, disciplined expense management<br>–Continued strong Private Bank progress, contributing $0.06 to EPS, up $0.02 QoQ<br>■PPNR of $718 million, up 16% QoQ <br>–NII up 3.3%, reflects NIM up 5 bps to 2.95%, and interest-earning assets up 1%<br>–Strong fee performance led by Card, Wealth and Mortgage; Capital Markets saw a modest increase driven by equity underwriting and loan syndications, partly offset by delayed M&A closings<br>–Expenses broadly flat; positive operating leverage of ~5%; efficiency ratio improved to 64.8%<br>■Loans up 1% QoQ on a spot basis with growth across the Private Bank, Commercial and Consumer<br>■Net charge-offs of 48 bps, down slightly QoQ with favorable trends in NPAs, down 4%<br>■Strong ACL coverage of 1.59%, broadly stable QoQ; reflects improving loan mix<br>■Average deposits up 1% QoQ with growth in lower-cost categories, partially offset by a reduction in higher-cost Treasury brokered deposits<br>■Strong liquidity profile; spot LDR of 79.6%; pro forma LCR well exceeds Category I Bank requirement of 100% <br>■Strong CET1 ratio of 10.6%<br>■TBV/share of $35.23, up 4% QoQ |
| **Financial Metrics** |  | Underlying ROTCE |  | 11.0 | 9.6 | 11.1 |  | &nbsp;&nbsp;&nbsp;&nbsp;■EPS of $0.92, up $0.15 QoQ<br>–Strong revenue performance, disciplined expense management<br>–Continued strong Private Bank progress, contributing $0.06 to EPS, up $0.02 QoQ<br>■PPNR of $718 million, up 16% QoQ <br>–NII up 3.3%, reflects NIM up 5 bps to 2.95%, and interest-earning assets up 1%<br>–Strong fee performance led by Card, Wealth and Mortgage; Capital Markets saw a modest increase driven by equity underwriting and loan syndications, partly offset by delayed M&A closings<br>–Expenses broadly flat; positive operating leverage of ~5%; efficiency ratio improved to 64.8%<br>■Loans up 1% QoQ on a spot basis with growth across the Private Bank, Commercial and Consumer<br>■Net charge-offs of 48 bps, down slightly QoQ with favorable trends in NPAs, down 4%<br>■Strong ACL coverage of 1.59%, broadly stable QoQ; reflects improving loan mix<br>■Average deposits up 1% QoQ with growth in lower-cost categories, partially offset by a reduction in higher-cost Treasury brokered deposits<br>■Strong liquidity profile; spot LDR of 79.6%; pro forma LCR well exceeds Category I Bank requirement of 100% <br>■Strong CET1 ratio of 10.6%<br>■TBV/share of $35.23, up 4% QoQ |
| **Financial Metrics** |  | Net interest margin, FTE |  | 2.95 | 2.90 | 2.87 |  | &nbsp;&nbsp;&nbsp;&nbsp;■EPS of $0.92, up $0.15 QoQ<br>–Strong revenue performance, disciplined expense management<br>–Continued strong Private Bank progress, contributing $0.06 to EPS, up $0.02 QoQ<br>■PPNR of $718 million, up 16% QoQ <br>–NII up 3.3%, reflects NIM up 5 bps to 2.95%, and interest-earning assets up 1%<br>–Strong fee performance led by Card, Wealth and Mortgage; Capital Markets saw a modest increase driven by equity underwriting and loan syndications, partly offset by delayed M&A closings<br>–Expenses broadly flat; positive operating leverage of ~5%; efficiency ratio improved to 64.8%<br>■Loans up 1% QoQ on a spot basis with growth across the Private Bank, Commercial and Consumer<br>■Net charge-offs of 48 bps, down slightly QoQ with favorable trends in NPAs, down 4%<br>■Strong ACL coverage of 1.59%, broadly stable QoQ; reflects improving loan mix<br>■Average deposits up 1% QoQ with growth in lower-cost categories, partially offset by a reduction in higher-cost Treasury brokered deposits<br>■Strong liquidity profile; spot LDR of 79.6%; pro forma LCR well exceeds Category I Bank requirement of 100% <br>■Strong CET1 ratio of 10.6%<br>■TBV/share of $35.23, up 4% QoQ |
| **Financial Metrics** |  | Efficiency ratio |  | 64.8 | 67.9 | 66.3 |  | &nbsp;&nbsp;&nbsp;&nbsp;■EPS of $0.92, up $0.15 QoQ<br>–Strong revenue performance, disciplined expense management<br>–Continued strong Private Bank progress, contributing $0.06 to EPS, up $0.02 QoQ<br>■PPNR of $718 million, up 16% QoQ <br>–NII up 3.3%, reflects NIM up 5 bps to 2.95%, and interest-earning assets up 1%<br>–Strong fee performance led by Card, Wealth and Mortgage; Capital Markets saw a modest increase driven by equity underwriting and loan syndications, partly offset by delayed M&A closings<br>–Expenses broadly flat; positive operating leverage of ~5%; efficiency ratio improved to 64.8%<br>■Loans up 1% QoQ on a spot basis with growth across the Private Bank, Commercial and Consumer<br>■Net charge-offs of 48 bps, down slightly QoQ with favorable trends in NPAs, down 4%<br>■Strong ACL coverage of 1.59%, broadly stable QoQ; reflects improving loan mix<br>■Average deposits up 1% QoQ with growth in lower-cost categories, partially offset by a reduction in higher-cost Treasury brokered deposits<br>■Strong liquidity profile; spot LDR of 79.6%; pro forma LCR well exceeds Category I Bank requirement of 100% <br>■Strong CET1 ratio of 10.6%<br>■TBV/share of $35.23, up 4% QoQ |
| **Financial Metrics** |  | Underlying efficiency ratio |  | 64.8 | 67.9 | 64.6 |  | &nbsp;&nbsp;&nbsp;&nbsp;■EPS of $0.92, up $0.15 QoQ<br>–Strong revenue performance, disciplined expense management<br>–Continued strong Private Bank progress, contributing $0.06 to EPS, up $0.02 QoQ<br>■PPNR of $718 million, up 16% QoQ <br>–NII up 3.3%, reflects NIM up 5 bps to 2.95%, and interest-earning assets up 1%<br>–Strong fee performance led by Card, Wealth and Mortgage; Capital Markets saw a modest increase driven by equity underwriting and loan syndications, partly offset by delayed M&A closings<br>–Expenses broadly flat; positive operating leverage of ~5%; efficiency ratio improved to 64.8%<br>■Loans up 1% QoQ on a spot basis with growth across the Private Bank, Commercial and Consumer<br>■Net charge-offs of 48 bps, down slightly QoQ with favorable trends in NPAs, down 4%<br>■Strong ACL coverage of 1.59%, broadly stable QoQ; reflects improving loan mix<br>■Average deposits up 1% QoQ with growth in lower-cost categories, partially offset by a reduction in higher-cost Treasury brokered deposits<br>■Strong liquidity profile; spot LDR of 79.6%; pro forma LCR well exceeds Category I Bank requirement of 100% <br>■Strong CET1 ratio of 10.6%<br>■TBV/share of $35.23, up 4% QoQ |
| **Financial Metrics** |  | CET1 |  | 10.6% | 10.6% | 10.7% |  | &nbsp;&nbsp;&nbsp;&nbsp;■EPS of $0.92, up $0.15 QoQ<br>–Strong revenue performance, disciplined expense management<br>–Continued strong Private Bank progress, contributing $0.06 to EPS, up $0.02 QoQ<br>■PPNR of $718 million, up 16% QoQ <br>–NII up 3.3%, reflects NIM up 5 bps to 2.95%, and interest-earning assets up 1%<br>–Strong fee performance led by Card, Wealth and Mortgage; Capital Markets saw a modest increase driven by equity underwriting and loan syndications, partly offset by delayed M&A closings<br>–Expenses broadly flat; positive operating leverage of ~5%; efficiency ratio improved to 64.8%<br>■Loans up 1% QoQ on a spot basis with growth across the Private Bank, Commercial and Consumer<br>■Net charge-offs of 48 bps, down slightly QoQ with favorable trends in NPAs, down 4%<br>■Strong ACL coverage of 1.59%, broadly stable QoQ; reflects improving loan mix<br>■Average deposits up 1% QoQ with growth in lower-cost categories, partially offset by a reduction in higher-cost Treasury brokered deposits<br>■Strong liquidity profile; spot LDR of 79.6%; pro forma LCR well exceeds Category I Bank requirement of 100% <br>■Strong CET1 ratio of 10.6%<br>■TBV/share of $35.23, up 4% QoQ |
| **Financial Metrics** |  | TBV/Share |  | $35.23 | $33.97 | $30.61 |  | &nbsp;&nbsp;&nbsp;&nbsp;■EPS of $0.92, up $0.15 QoQ<br>–Strong revenue performance, disciplined expense management<br>–Continued strong Private Bank progress, contributing $0.06 to EPS, up $0.02 QoQ<br>■PPNR of $718 million, up 16% QoQ <br>–NII up 3.3%, reflects NIM up 5 bps to 2.95%, and interest-earning assets up 1%<br>–Strong fee performance led by Card, Wealth and Mortgage; Capital Markets saw a modest increase driven by equity underwriting and loan syndications, partly offset by delayed M&A closings<br>–Expenses broadly flat; positive operating leverage of ~5%; efficiency ratio improved to 64.8%<br>■Loans up 1% QoQ on a spot basis with growth across the Private Bank, Commercial and Consumer<br>■Net charge-offs of 48 bps, down slightly QoQ with favorable trends in NPAs, down 4%<br>■Strong ACL coverage of 1.59%, broadly stable QoQ; reflects improving loan mix<br>■Average deposits up 1% QoQ with growth in lower-cost categories, partially offset by a reduction in higher-cost Treasury brokered deposits<br>■Strong liquidity profile; spot LDR of 79.6%; pro forma LCR well exceeds Category I Bank requirement of 100% <br>■Strong CET1 ratio of 10.6%<br>■TBV/share of $35.23, up 4% QoQ |
| &nbsp;&nbsp;&nbsp;&nbsp;■EPS of $0.92, up $0.15 QoQ<br>–Strong revenue performance, disciplined expense management<br>–Continued strong Private Bank progress, contributing $0.06 to EPS, up $0.02 QoQ<br>■PPNR of $718 million, up 16% QoQ <br>–NII up 3.3%, reflects NIM up 5 bps to 2.95%, and interest-earning assets up 1%<br>–Strong fee performance led by Card, Wealth and Mortgage; Capital Markets saw a modest increase driven by equity underwriting and loan syndications, partly offset by delayed M&A closings<br>–Expenses broadly flat; positive operating leverage of ~5%; efficiency ratio improved to 64.8%<br>■Loans up 1% QoQ on a spot basis with growth across the Private Bank, Commercial and Consumer<br>■Net charge-offs of 48 bps, down slightly QoQ with favorable trends in NPAs, down 4%<br>■Strong ACL coverage of 1.59%, broadly stable QoQ; reflects improving loan mix<br>■Average deposits up 1% QoQ with growth in lower-cost categories, partially offset by a reduction in higher-cost Treasury brokered deposits<br>■Strong liquidity profile; spot LDR of 79.6%; pro forma LCR well exceeds Category I Bank requirement of 100% <br>■Strong CET1 ratio of 10.6%<br>■TBV/share of $35.23, up 4% QoQ |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;■EPS of $0.92, up $0.15 QoQ<br>–Strong revenue performance, disciplined expense management<br>–Continued strong Private Bank progress, contributing $0.06 to EPS, up $0.02 QoQ<br>■PPNR of $718 million, up 16% QoQ <br>–NII up 3.3%, reflects NIM up 5 bps to 2.95%, and interest-earning assets up 1%<br>–Strong fee performance led by Card, Wealth and Mortgage; Capital Markets saw a modest increase driven by equity underwriting and loan syndications, partly offset by delayed M&A closings<br>–Expenses broadly flat; positive operating leverage of ~5%; efficiency ratio improved to 64.8%<br>■Loans up 1% QoQ on a spot basis with growth across the Private Bank, Commercial and Consumer<br>■Net charge-offs of 48 bps, down slightly QoQ with favorable trends in NPAs, down 4%<br>■Strong ACL coverage of 1.59%, broadly stable QoQ; reflects improving loan mix<br>■Average deposits up 1% QoQ with growth in lower-cost categories, partially offset by a reduction in higher-cost Treasury brokered deposits<br>■Strong liquidity profile; spot LDR of 79.6%; pro forma LCR well exceeds Category I Bank requirement of 100% <br>■Strong CET1 ratio of 10.6%<br>■TBV/share of $35.23, up 4% QoQ |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;■EPS of $0.92, up $0.15 QoQ<br>–Strong revenue performance, disciplined expense management<br>–Continued strong Private Bank progress, contributing $0.06 to EPS, up $0.02 QoQ<br>■PPNR of $718 million, up 16% QoQ <br>–NII up 3.3%, reflects NIM up 5 bps to 2.95%, and interest-earning assets up 1%<br>–Strong fee performance led by Card, Wealth and Mortgage; Capital Markets saw a modest increase driven by equity underwriting and loan syndications, partly offset by delayed M&A closings<br>–Expenses broadly flat; positive operating leverage of ~5%; efficiency ratio improved to 64.8%<br>■Loans up 1% QoQ on a spot basis with growth across the Private Bank, Commercial and Consumer<br>■Net charge-offs of 48 bps, down slightly QoQ with favorable trends in NPAs, down 4%<br>■Strong ACL coverage of 1.59%, broadly stable QoQ; reflects improving loan mix<br>■Average deposits up 1% QoQ with growth in lower-cost categories, partially offset by a reduction in higher-cost Treasury brokered deposits<br>■Strong liquidity profile; spot LDR of 79.6%; pro forma LCR well exceeds Category I Bank requirement of 100% <br>■Strong CET1 ratio of 10.6%<br>■TBV/share of $35.23, up 4% QoQ |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;■EPS of $0.92, up $0.15 QoQ<br>–Strong revenue performance, disciplined expense management<br>–Continued strong Private Bank progress, contributing $0.06 to EPS, up $0.02 QoQ<br>■PPNR of $718 million, up 16% QoQ <br>–NII up 3.3%, reflects NIM up 5 bps to 2.95%, and interest-earning assets up 1%<br>–Strong fee performance led by Card, Wealth and Mortgage; Capital Markets saw a modest increase driven by equity underwriting and loan syndications, partly offset by delayed M&A closings<br>–Expenses broadly flat; positive operating leverage of ~5%; efficiency ratio improved to 64.8%<br>■Loans up 1% QoQ on a spot basis with growth across the Private Bank, Commercial and Consumer<br>■Net charge-offs of 48 bps, down slightly QoQ with favorable trends in NPAs, down 4%<br>■Strong ACL coverage of 1.59%, broadly stable QoQ; reflects improving loan mix<br>■Average deposits up 1% QoQ with growth in lower-cost categories, partially offset by a reduction in higher-cost Treasury brokered deposits<br>■Strong liquidity profile; spot LDR of 79.6%; pro forma LCR well exceeds Category I Bank requirement of 100% <br>■Strong CET1 ratio of 10.6%<br>■TBV/share of $35.23, up 4% QoQ |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;■EPS of $0.92, up $0.15 QoQ<br>–Strong revenue performance, disciplined expense management<br>–Continued strong Private Bank progress, contributing $0.06 to EPS, up $0.02 QoQ<br>■PPNR of $718 million, up 16% QoQ <br>–NII up 3.3%, reflects NIM up 5 bps to 2.95%, and interest-earning assets up 1%<br>–Strong fee performance led by Card, Wealth and Mortgage; Capital Markets saw a modest increase driven by equity underwriting and loan syndications, partly offset by delayed M&A closings<br>–Expenses broadly flat; positive operating leverage of ~5%; efficiency ratio improved to 64.8%<br>■Loans up 1% QoQ on a spot basis with growth across the Private Bank, Commercial and Consumer<br>■Net charge-offs of 48 bps, down slightly QoQ with favorable trends in NPAs, down 4%<br>■Strong ACL coverage of 1.59%, broadly stable QoQ; reflects improving loan mix<br>■Average deposits up 1% QoQ with growth in lower-cost categories, partially offset by a reduction in higher-cost Treasury brokered deposits<br>■Strong liquidity profile; spot LDR of 79.6%; pro forma LCR well exceeds Category I Bank requirement of 100% <br>■Strong CET1 ratio of 10.6%<br>■TBV/share of $35.23, up 4% QoQ |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;■EPS of $0.92, up $0.15 QoQ<br>–Strong revenue performance, disciplined expense management<br>–Continued strong Private Bank progress, contributing $0.06 to EPS, up $0.02 QoQ<br>■PPNR of $718 million, up 16% QoQ <br>–NII up 3.3%, reflects NIM up 5 bps to 2.95%, and interest-earning assets up 1%<br>–Strong fee performance led by Card, Wealth and Mortgage; Capital Markets saw a modest increase driven by equity underwriting and loan syndications, partly offset by delayed M&A closings<br>–Expenses broadly flat; positive operating leverage of ~5%; efficiency ratio improved to 64.8%<br>■Loans up 1% QoQ on a spot basis with growth across the Private Bank, Commercial and Consumer<br>■Net charge-offs of 48 bps, down slightly QoQ with favorable trends in NPAs, down 4%<br>■Strong ACL coverage of 1.59%, broadly stable QoQ; reflects improving loan mix<br>■Average deposits up 1% QoQ with growth in lower-cost categories, partially offset by a reduction in higher-cost Treasury brokered deposits<br>■Strong liquidity profile; spot LDR of 79.6%; pro forma LCR well exceeds Category I Bank requirement of 100% <br>■Strong CET1 ratio of 10.6%<br>■TBV/share of $35.23, up 4% QoQ |  |  |  |  |  |  |  |  |

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|:---|:---|:---|:---|:---|:---|:---|:---|
| **Notable Items** | | **2Q25** | **2Q25** | **1Q25** | **1Q25** | **2Q24** | **2Q24** |
| **Notable Items** | *($s in millions except per share data)* | **Pre-tax $** | **EPS** | **Pre-tax $** | **EPS** | **Pre-tax $** | **EPS** |
| **Notable Items** | Integration-related | $— | $— | $— | $— | $(3) | $(0.01) |
| **Notable Items** | TOP/FDIC-related/Other |  |  |  |  | (29) | (0.03) |
| **Notable Items** | &nbsp;&nbsp;Total | $— | $— | $— | $— | $(32) | $(0.04) |
| **Notable Items** |  |  |  |  |  |  |  |
| **Notable Items** |  |  |  |  |  |  |  |
| **Notable Items** |  |  |  |  |  |  |  |
| **Notable Items** |  |  |  |  |  |  |  |
| **Notable Items** |  |  |  |  |  |  |  |

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\*Results presented on an Underlying basis are non-GAAP Financial Measures. See page 15 for additional information on our use of Non-GAAP Financial Measures.

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**Citizens Financial Group, Inc.**

**Comments from Chairman and CEO Bruce Van Saun**

"We are pleased to report strong results today that came in ahead of expectations, paced by strong NII and fee growth, disciplined expense management, and credit results that are trending favorably," said Chairman and CEO Bruce Van Saun. "We saw some sizable M&A advisory fees push out to July, but offset that with strong performance across other fee categories. Our key strategic initiatives, paced by the Private Bank/Private Wealth build out, continue to make good progress, and we have commenced work on a broad 'Reimagining the Bank' initiative that will become a multi-year TOP program and drive meaningful benefits from using new technologies to serve customers in new ways and run the bank better. We are well-positioned to have a strong second half of the year and to sustain that momentum into the medium-term."

Citizens also announced today that its board of directors declared a quarterly common stock dividend of $0.42 per share. The dividend is payable on August 14, 2025 to shareholders of record at the close of business on July 31, 2025.

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**Citizens Financial Group, Inc.**

***Earnings highlights***<sup>(1)</sup>***:*** 

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| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Quarterly Trends** | **Quarterly Trends** | **Quarterly Trends** | **Quarterly Trends** | **Quarterly Trends** | **Quarterly Trends** | **Quarterly Trends** | **Quarterly Trends** | **Quarterly Trends** |
| | | | | **2Q25 change from** | **2Q25 change from** | **2Q25 change from** | **2Q25 change from** | **2Q25 change from** | **2Q25 change from** |
|<br>*($s in millions, except per share data)* |<br>**2Q25** |<br>**1Q25** |<br>**2Q24** | **1Q25** | **1Q25** | **1Q25** | **2Q24** | **2Q24** | **2Q24** |
| **Earnings** |  |  |  | **$/bps/%** | **$/bps/%** | **%** | **$/bps/%** | **$/bps/%** | **%** |
| Net interest income | $1437 | $1391 | $1410 | $46 |  | 3% | $27 |  | 2% |
| Noninterest income | 600 | 544 | 553 | 56 |  | 10 | 47 |  | 8 |
| Total revenue | 2037 | 1935 | 1963 | 102 |  | 5 | 74 |  | 4 |
| Noninterest expense | 1319 | 1314 | 1301 | 5 |  |  | 18 |  | 1 |
| Pre-provision profit | 718 | 621 | 662 | 97 |  | 16 | 56 |  | 8 |
| Provision for credit losses | 164 | 153 | 182 | 11 |  | 7 | (18) |  | (10) |
| Net income | 436 | 373 | 392 | 63 |  | 17 | 44 |  | 11 |
| Preferred dividends | 34 | 33 | 35 | 1 |  | 3 | (1) |  | (3) |
| Net income available to common stockholders | $402 | $340 | $357 | $62 |  | 18% | $45 |  | 13% |
| After-tax notable Items |  |  | 16 |  |  |  | (16) |  | (100) |
| Underlying net income | $436 | $373 | $408 | $63 |  | 17% | $28 |  | 7% |
| Underlying net income available to common stockholders | 402 | 340 | 373 | 62 |  | 18 | 29 |  | 8 |
| **Average common shares outstanding** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Basic (in millions) | 433.6 | 438.3 | 454.1 | (4.7) |  | (1) | (20.5) |  | (5) |
| &nbsp;&nbsp;&nbsp;&nbsp;Diluted (in millions) | 436.5 | 442.2 | 456.6 | (5.7) |  | (1) | (20.0) |  | (4) |
| Diluted earnings per share | $0.92 | $0.77 | $0.78 | $0.15 |  | 19% | $0.14 |  | 18% |
| Underlying diluted earnings per share | 0.92 | 0.77 | 0.82 | 0.15 |  | 19 | 0.10 |  | 12 |
| **Performance metrics** |  |  |  |  |  |  |  |  |  |
| Net interest margin | 2.94% | 2.89% | 2.86% | 5 | bps |  | 8 | bps |  |
| Net interest margin, FTE | 2.95 | 2.90 | 2.87 | 5 |  |  | 8 |  |  |
| Effective income tax rate | 21.4 | 20.3 | 18.5 | 111 |  |  | 288 |  |  |
| Efficiency ratio | 64.8 | 67.9 | 66.3 | (315) |  |  | (151) |  |  |
| Underlying efficiency ratio | 64.8 | 67.9 | 64.6 | (315) |  |  | 17 |  |  |
| Return on average tangible common equity | 11.0 | 9.6 | 10.6 | 141 |  |  | 44 |  |  |
| Underlying return on average tangible common equity | 11.0 | 9.6 | 11.1 | 141 |  |  | (4) |  |  |
| Return on average total tangible assets | 0.83 | 0.73 | 0.75 | 10 |  |  | 8 |  |  |
| Underlying return on average total tangible assets | 0.83% | 0.73% | 0.78% | 10 | bps |  | 5 | bps |  |
| **Capital adequacy**<sup>(23)</sup> |  |  |  |  |  |  |  |  |  |
| Common equity tier 1 capital ratio | 10.6% | 10.6% | 10.7% |  |  |  |  |  |  |
| Total capital ratio | 13.8 | 13.9 | 14.0 |  |  |  |  |  |  |
| Tier 1 leverage ratio | 9.4 | 9.4 | 9.4 |  |  |  |  |  |  |
| Tangible common equity ratio | 7.2 | 7.0 | 6.5 |  |  |  |  |  |  |
| Allowance for credit losses to loans and leases | 1.59% | 1.61% | 1.63% | (2) | bps |  | (4) | bps |  |
| **Asset quality**<sup>(3)</sup> |  |  |  |  |  |  |  |  |  |
| Nonaccrual loans and leases to loans and leases | 1.09% | 1.15% | 1.08% | (6) | bps |  | 1 | bp |  |
| Allowance for credit losses to nonaccrual loans and leases | 145 | 140 | 151 | 5 | % |  | (6) | % |  |
| Net charge-offs as a % of average loans and leases | 0.48% | 0.58% | 0.52% | (10) | bps |  | (4) | bps |  |

---

<sup>(1)</sup> Unless otherwise noted, references to balance sheet items are on an average basis, loans exclude loans held for sale, earnings per share

&nbsp;&nbsp;&nbsp;&nbsp;represent fully diluted per common share and references to NIM are on a FTE basis.

<sup>(2)</sup> Current reporting-period regulatory capital ratios are preliminary.

<sup>(3)</sup> Capital adequacy and asset-quality ratios calculated on a period-end basis, except net charge-offs.

------

**Citizens Financial Group, Inc.**

The following table provides information on Underlying results which exclude the impact of notable items.

***Underlying results:***

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Quarterly Trends** | **Quarterly Trends** | **Quarterly Trends** | **Quarterly Trends** | **Quarterly Trends** | **Quarterly Trends** | **Quarterly Trends** | **Quarterly Trends** | **Quarterly Trends** |
| | | | | **2Q25 change from** | **2Q25 change from** | **2Q25 change from** | **2Q25 change from** | **2Q25 change from** | **2Q25 change from** |
|<br>*($s in millions, except per share data)* |<br>**2Q25** |<br>**1Q25** |<br>**2Q24** | **1Q25** | **1Q25** | **1Q25** | **2Q24** | **2Q24** | **2Q24** |
|  |  |  |  | **$/bps** | **$/bps** | **%** | **$/bps** | **$/bps** | **%** |
| Net interest income | $1437 | $1391 | $1410 | $46 |  | 3% | $27 |  | 2% |
| Noninterest income | 600 | 544 | 549 | 56 |  | 10 | 51 |  | 9 |
| Total revenue | $2037 | $1935 | $1959 | $102 |  | 5% | $78 |  | 4% |
| Noninterest expense | 1319 | 1314 | 1265 | 5 |  |  | 54 |  | 4 |
| Provision for credit losses | 164 | 153 | 182 | 11 |  | 7 | (18) |  | (10) |
| Net income available to common stockholders | $402 | $340 | $373 | $62 |  | 18% | $29 |  | 8% |
| **Performance metrics** |  |  |  |  |  |  |  |  |  |
| EPS | $0.92 | $0.77 | $0.82 | $0.15 |  | 19% | $0.10 |  | 12% |
| Efficiency ratio | 64.8% | 67.9% | 64.6% | (315) | bps |  | 17 | bps |  |
| Return on average tangible common equity | 11.0% | 9.6% | 11.1% | 141 | bps |  | (4) | bps |  |

---

***Consolidated balance sheet summary***<sup>(1)</sup>***:***

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | | | **2Q25 change from** | **2Q25 change from** | **2Q25 change from** | **2Q25 change from** | **2Q25 change from** | **2Q25 change from** |
|<br>*($s in millions)* |<br>**2Q25** |<br>**1Q25** |<br>**2Q24** | **1Q25** | **1Q25** | **1Q25** | **2Q24** | **2Q24** | **2Q24** |
|  |  |  |  | **$/bps** | **$/bps** | **%** | **$/bps** | **$/bps** | **%** |
| Total assets | $218310 | $220148 | $219938 | $(1838) |  | (1)% | $(1628) |  | (1)% |
| Total loans and leases | 139304 | 137635 | 141842 | 1669 |  | 1 | (2538) |  | (2) |
| Total loans held for sale | 2093 | 2820 | 683 | (727) |  | (26) | 1410 |  | 206 |
| Deposits | 175086 | 177576 | 176352 | (2490) |  | (1) | (1266) |  | (1) |
| Stockholders' equity | 25234 | 24866 | 23869 | 368 |  | 1 | 1365 |  | 6 |
| Stockholders' common equity | 23121 | 22753 | 21757 | 368 |  | 2 | 1364 |  | 6 |
| Tangible common equity | $15246 | $14867 | $13866 | $379 |  | 3% | $1380 |  | 10% |
| Loan-to-deposit ratio (period-end)<sup>(2)</sup> | 79.6% | 77.5% | 80.4% | 205 | bps |  | (87) | bps |  |
| Loan-to-deposit ratio (average)<sup>(2)</sup> | 79.7% | 80.9% | 82.4% | (117) | bps |  | (266) | bps |  |
| (1) Represents period-end unless otherwise noted. | (1) Represents period-end unless otherwise noted. | (1) Represents period-end unless otherwise noted. | (1) Represents period-end unless otherwise noted. |  |  |  |  |  |  |
| (2) Excludes loans held for sale. | (2) Excludes loans held for sale. | (2) Excludes loans held for sale. | (2) Excludes loans held for sale. | (2) Excludes loans held for sale. | (2) Excludes loans held for sale. | (2) Excludes loans held for sale. | (2) Excludes loans held for sale. | (2) Excludes loans held for sale. | (2) Excludes loans held for sale. |

---

------

**Citizens Financial Group, Inc.**

***Notable items:***

There are no notable items in second quarter 2025 or first quarter 2025, as our intention going forward is to limit these to those items of greatest significance. Second quarter 2024 results reflect notable items primarily related to integration costs associated with recent acquisitions, as well as TOP revenue and efficiency initiatives and a notable item for an industry-wide FDIC special assessment. These notable items were excluded from reported results to better reflect Underlying operating results.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **2Q25** | **2Q25** | **1Q25** | **1Q25** | **2Q24** | **2Q24** |
| **Notable items - Integration-related**<br>*($s in millions, except per share data)* | **Pre-tax** | **After-tax** | **Pre-tax** | **After-tax** | **Pre-tax** | **After-tax** |
| &nbsp;&nbsp;&nbsp;&nbsp;Salaries & benefits | $— | $— | $— | $— | $(3) | $(2) |
| &nbsp;&nbsp;&nbsp;&nbsp;Equipment and software |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Outside services |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Occupancy |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Other expense |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Noninterest expense | $— | $— | $— | $— | $(3) | $(2) |
| **EPS Impact - Noninterest expense** |  | $— |  | $— |  | $(0.01) |
| Total Integration-related | $— | $— | $— | $— | $(3) | $(2) |
| **EPS Impact - Total Integration-related** |  | $— |  | $— |  | $(0.01) |
| **Other notable items - TOP & Other** | **2Q25** | **2Q25** | **1Q25** | **1Q25** | **2Q24** | **2Q24** |
| *($s in millions, except per share data)* | **Pre-tax** | **After-tax** | **Pre-tax** | **After-tax** | **Pre-tax** | **After-tax** |
| Tax notable items | $— | $— | $— | $— | $— | $7 |
| &nbsp;&nbsp;&nbsp;&nbsp; Noninterest income |  |  |  |  | 4 | 3 |
| &nbsp;&nbsp;&nbsp;&nbsp;Salaries & benefits |  |  |  |  | (5) | (4) |
| &nbsp;&nbsp;&nbsp;&nbsp;Equipment and software |  |  |  |  | (4) | (3) |
| &nbsp;&nbsp;&nbsp;&nbsp;Outside services |  |  |  |  | (10) | (7) |
| &nbsp;&nbsp;&nbsp;&nbsp;Occupancy |  |  |  |  | (6) | (4) |
| &nbsp;&nbsp;&nbsp;&nbsp;FDIC special assessment<sup>(1)</sup> |  |  |  |  | (5) | (4) |
| &nbsp;&nbsp;&nbsp;&nbsp;Other expense |  |  |  |  | (3) | (2) |
| &nbsp;&nbsp;&nbsp;&nbsp;Noninterest expense | $— | $— | $— | $— | $(33) | $(24) |
| Total Other Notable Items | $— | $— | $— | $— | $(29) | $(14) |
| **EPS Impact - Other Notable Items** |  | $— |  | $— |  | $(0.03) |
| Total Notable Items | $— | $— | $— | $— | $(32) | $(16) |
| **Total EPS Impact** |  | $— |  | $— |  | $(0.04) |
| <sup>(1)</sup> The FDIC special assessment earnings per share impact is $(0.01) second quarter 2024.  | <sup>(1)</sup> The FDIC special assessment earnings per share impact is $(0.01) second quarter 2024.  | <sup>(1)</sup> The FDIC special assessment earnings per share impact is $(0.01) second quarter 2024.  | <sup>(1)</sup> The FDIC special assessment earnings per share impact is $(0.01) second quarter 2024.  | <sup>(1)</sup> The FDIC special assessment earnings per share impact is $(0.01) second quarter 2024.  | <sup>(1)</sup> The FDIC special assessment earnings per share impact is $(0.01) second quarter 2024.  | <sup>(1)</sup> The FDIC special assessment earnings per share impact is $(0.01) second quarter 2024.  |

---

------

**Citizens Financial Group, Inc.**

***Discussion of results:***

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | | | **2Q25 change from** | **2Q25 change from** | **2Q25 change from** | **2Q25 change from** | **2Q25 change from** | **2Q25 change from** |
| **Net interest income**<br>*($s in millions)* |<br>**2Q25** |<br>**1Q25** |<br>**2Q24** | **1Q25** | **1Q25** | **1Q25** | **2Q24** | **2Q24** | **2Q24** |
|  |  |  |  | **$/bps** | **$/bps** | **%** | **$/bps** | **$/bps** | **%** |
| **Interest income:** |  |  |  |  |  |  |  |  |  |
| Interest and fees on loans and leases and loans held for sale | $1887 | $1845 | $2028 | $42 |  | 2% | $(141) |  | (7)% |
| Investment securities | 428 | 418 | 417 | 10 |  | 2 | 11 |  | 3 |
| Interest-bearing deposits in banks | 92 | 89 | 130 | 3 |  | 3 | (38) |  | (29) |
| Total interest income | $2407 | $2352 | $2575 | $55 |  | 2% | $(168) |  | (7)% |
| **Interest expense:** |  |  |  |  |  |  |  |  |  |
| Deposits | $802 | $795 | $965 | $7 |  | 1% | $(163) |  | (17)% |
| Short-term borrowed funds | 9 | 8 | 4 | 1 |  | 13 | 5 |  | 125 |
| Long-term borrowed funds | 159 | 158 | 196 | 1 |  | 1 | (37) |  | (19) |
| Total interest expense | $970 | $961 | $1165 | $9 |  | 1% | $(195) |  | (17)% |
| Net interest income | $1437 | $1391 | $1410 | $46 |  | 3% | $27 |  | 2% |
| Net interest margin, FTE | 2.95% | 2.90% | 2.87% | 5 | bps |  | 8 | bps |  |

---

---

| | | |
|:---|:---|:---|
| **Second quarter 2025** | **vs.** | **first quarter 2025** |

---

Net interest income of $1.4 billion increased 3.3%, reflecting a higher net interest margin, as well as a 1% increase in average interest-earning assets.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Net interest margin of 2.95% increased 5 basis points, given the time-based benefits of Non-Core runoff and lower terminated swap impact, lower deposit costs and favorable fixed-rate asset repricing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Interest-bearing deposit costs decreased 2 basis points; total deposit costs decreased 2 basis points, and total cost of funds decreased 2 basis points to 2.07%.

---

| | | |
|:---|:---|:---|
| **Second quarter 2025** | **vs.** | **second quarter 2024** |

---

Net interest income of $1.4 billion increased 2%, primarily reflecting a higher net interest margin, partially offset by a 1% decline in average interest-earning assets.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Net interest margin of 2.95% increased 8 basis points, as the benefit of lower funding costs, Non-Core runoff and fixed-rate asset repricing were partially offset by the impact of variable-rate asset repricing, net of swaps.

------

**Citizens Financial Group, Inc.**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | | | **2Q25 change from** | **2Q25 change from** |
| **Noninterest Income**<br>*($s in millions)* |<br>**2Q25** |<br>**1Q25** |<br>**2Q24** | **1Q25** | **2Q24** |
|  |  |  |  | $**%** | $**%** |
| Service charges and fees | $111 | $109 | $106 | 2% | 5% |
| Capital markets fees | 105 | 100 | 134 | 5 | (22) |
| Card fees | 90 | 83 | 92 | 8 | (2) |
| Wealth fees | 88 | 81 | 75 | 9 | 17 |
| Mortgage banking fees | 73 | 59 | 54 | 24 | 35 |
| Foreign exchange and derivative products | 41 | 39 | 39 | 5 | 5 |
| Letter of credit and loan fees | 45 | 44 | 43 | 2 | 5 |
| Securities gains, net | 5 | 7 |  | (29) | 100 |
| Other income<sup>(1)</sup> | 42 | 22 | 10 | 91 | NM |
| Noninterest income | $600 | $544 | $553 | 10% | 8% |
| Underlying, as applicable |  |  |  |  |  |
| Card fees | $90 | $83 | $88 | 8 | 2 |
| Underlying noninterest income | $600 | $544 | $549 | 10% | 9% |
| (1) Includes bank-owned life insurance income and other miscellaneous income for all periods presented. | (1) Includes bank-owned life insurance income and other miscellaneous income for all periods presented. | (1) Includes bank-owned life insurance income and other miscellaneous income for all periods presented. | (1) Includes bank-owned life insurance income and other miscellaneous income for all periods presented. | (1) Includes bank-owned life insurance income and other miscellaneous income for all periods presented. | (1) Includes bank-owned life insurance income and other miscellaneous income for all periods presented. |

---

---

| | | |
|:---|:---|:---|
| **Second quarter 2025** | **vs.** | **first quarter 2025** |

---

Noninterest income of $600 million increased $56 million, or 10%.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Capital markets fees increased $5 million, primarily reflecting higher equity underwriting and loan syndication fees. M&A fees were down slightly as several significant deals pushed into July given market uncertainty in the quarter.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Card fees increased $7 million, reflecting seasonally higher purchase volumes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Wealth fees increased $7 million, given higher transactional revenue and an increase in advisory fees, primarily driven by net inflows.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Mortgage banking fees increased $14 million, reflecting higher MSR valuation, net of hedge impact, as well as higher production fees.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Foreign exchange and derivative products revenue increased $2 million, reflecting increased client hedging activity tied to heightened FX volatility, partially offset by lower commodities hedging.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Other income increased $20 million, reflecting the benefit of various modest revenue items.

---

| | | |
|:---|:---|:---|
| **Second quarter 2025** | **vs.** | **second quarter 2024** |

---

Underlying noninterest income of $600 million increased $51 million, or 9%.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Service charges and fees increased $5 million, primarily driven by higher overdraft and cash management fees.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Capital markets fees decreased $29 million, reflecting lower M&A and bond underwriting fees, partially offset by higher equity underwriting fees.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Wealth fees increased $13 million, reflecting growth in AUM, primarily from the Private Bank.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Mortgage banking fees increased $19 million, primarily driven by higher MSR valuation, net of hedging.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Foreign exchange and derivative products revenue increased $2 million, given increased client activity in foreign exchange hedging.

------

**Citizens Financial Group, Inc.**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | | | **2Q25 change from** | **2Q25 change from** |
| **Noninterest Expense**<br>*($s in millions)* |<br>**2Q25** |<br>**1Q25** |<br>**2Q24** | **1Q25** | **2Q24** |
|  |  |  |  | $**%** | $**%** |
| Salaries and employee benefits | $681 | $696 | $645 | (2)% | 6% |
| Equipment and software | 193 | 194 | 190 | (1) | 2 |
| Outside services | 169 | 155 | 165 | 9 | 2 |
| Occupancy | 108 | 112 | 113 | (4) | (4) |
| Other operating expense | 168 | 157 | 188 | 7 | (11) |
| Noninterest expense | $1319 | $1314 | $1301 | —% | 1% |
| Notable items | $— | $— | $36 | —% | (100)% |
| Underlying, as applicable |  |  |  |  |  |
| Salaries and employee benefits | $681 | $696 | $637 | (2)% | 7% |
| Equipment and software | 193 | 194 | 186 | (1) | 4 |
| Outside services | 169 | 155 | 155 | 9 | 9 |
| Occupancy | 108 | 112 | 107 | (4) | 1 |
| Other operating expense | 168 | 157 | 180 | 7 | (7) |
| Underlying noninterest expense | $1319 | $1314 | $1265 | —% | 4% |

---

---

| | | |
|:---|:---|:---|
| **Second quarter 2025** | **vs.** | **first quarter 2025** |

---

Noninterest expense of $1.3 billion increased 0.4%.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Salaries and employee benefits decreased $15 million, reflecting lower payroll taxes and compensation-related costs given seasonality.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Outside services increased $14 million, primarily driven by higher technology and vendor-related costs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Occupancy decreased $4 million, driven by lower branch maintenance and utilities given first-quarter seasonality.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Other operating expense increased $11 million, primarily reflecting higher seasonal marketing-related and travel costs.

The effective tax rate was 21.4% in second quarter 2025, compared with 20.3% in first quarter 2025, primarily reflecting lower benefit from tax-advantaged investments given higher income.

---

| | | |
|:---|:---|:---|
| **Second quarter 2025** | **vs.** | **second quarter 2024** |

---

Underlying noninterest expense of $1.3 billion increased 4%.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Salaries and employee benefits increased $44 million, reflecting hiring related to the Private Bank and Private Wealth build out, as well as a broader increase in salaries and benefits.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Equipment and software increased $7 million, given technology investments.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Outside services increased $14 million, largely driven by investments across the enterprise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Other operating expense decreased $12 million, reflecting lower fraud losses, FDIC insurance expense and marketing-related costs.

The effective tax rate was 21.4% in second quarter 2025 compared with 20.3% on an Underlying basis in second quarter 2024, primarily reflecting less benefit from tax-advantaged investments given higher income and higher state taxes.

------

**Citizens Financial Group, Inc.**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | | | **2Q25 change from** | **2Q25 change from** |
| **Interest-earning assets**<br>*($s in millions)* |<br>**2Q25** |<br>**1Q25** |<br>**2Q24** | **1Q25** | **2Q24** |
| **Period-end interest-earning assets** |  |  |  | $**%** | $**%** |
| Investments | $43899 | $43544 | $41677 | 1% | 5% |
| Interest-bearing deposits in banks | 8121 | 11144 | 11139 | (27) | (27) |
| Commercial loans and leases | 71642 | 70508 | 71934 | 2 |  |
| Retail loans | 67662 | 67127 | 69908 | 1 | (3) |
| Total loans and leases | 139304 | 137635 | 141842 | 1 | (2) |
| Loans held for sale | 2093 | 2820 | 683 | (26) | 206 |
| Total loans and leases and loans held for sale | 141397 | 140455 | 142525 | 1 | (1) |
| Total period-end interest-earning assets | $193417 | $195143 | $195341 | (1)% | (1)% |
| **Average interest-earning assets**<sup>(1)</sup> |  |  |  |  |  |
| Investments | $46538 | $46069 | $44692 | 1% | 4% |
| Interest-bearing deposits in banks | 8217 | 8092 | 9650 | 2 | (15) |
| Commercial loans and leases | 71423 | 70612 | 72955 | 1 | (2) |
| Retail loans | 67386 | 69098 | 70112 | (2) | (4) |
| Total loans and leases | 138809 | 139710 | 143067 | (1) | (3) |
| Loans held for sale | 2754 | 1187 | 1056 | 132 | 161 |
| Total loans and leases and loans held for sale | 141563 | 140897 | 144123 |  | (2) |
| Total average interest-earning assets | $196318 | $195058 | $198465 | 1% | (1)% |
| <sup>(1)</sup> Total average interest-earning assets excludes the mark-to-market on investment securities and unsettled purchases or sales of loans and investments. | <sup>(1)</sup> Total average interest-earning assets excludes the mark-to-market on investment securities and unsettled purchases or sales of loans and investments. | <sup>(1)</sup> Total average interest-earning assets excludes the mark-to-market on investment securities and unsettled purchases or sales of loans and investments. | <sup>(1)</sup> Total average interest-earning assets excludes the mark-to-market on investment securities and unsettled purchases or sales of loans and investments. | <sup>(1)</sup> Total average interest-earning assets excludes the mark-to-market on investment securities and unsettled purchases or sales of loans and investments. | <sup>(1)</sup> Total average interest-earning assets excludes the mark-to-market on investment securities and unsettled purchases or sales of loans and investments. |

---

---

| | | |
|:---|:---|:---|
| **Second quarter 2025** | **vs.** | **first quarter 2025** |

---

Period-end interest-earning assets of $193.4 billion decreased 1%, reflecting a $3.0 billion decrease in cash held in interest-bearing deposits and $355 million increase in investments in securities. Total loans and leases increased $1.7 billion, as growth in the Private Bank, higher line utilization and net new business in Commercial, and growth in mortgage and home equity in Consumer, were partially offset by the runoff of Non-Core loans and commercial real estate paydowns.

Average interest-earning assets of $196.3 billion increased $1.3 billion, reflecting a $469 million increase in investments and $125 million increase in cash held in interest-bearing deposits. Average total loans and leases decreased $901 million, reflecting the reclassification of ~$1.9 billion of Non-Core education loans ("Non-Core transaction") to loans held for sale near the end of the first quarter. Excluding this transaction, there was growth in the Private Bank and Commercial, as well as in mortgage and home equity, partially offset by continued run-off of Non-Core loans and commercial real estate paydowns.

The average effective duration of the securities portfolio was 3.7 years, compared with 3.6 years at March 31, 2025 and 3.7 years at June 30, 2024.

---

| | | |
|:---|:---|:---|
| **Second quarter 2025** | **vs.** | **second quarter 2024** |

---

Period-end interest-earning assets of $193.4 billion decreased 1%, reflecting a $3.0 billion decrease in investments in cash held in interest-bearing deposits and a $1.1 billion decrease in total loans and leases and loans held for sale, partially offset by a $2.2 billion increase in investments in securities. The decrease in loans and leases is driven by a $2.2 billion decrease in retail reflecting continued Non-Core portfolio runoff and the Non-Core transaction, partially offset by growth in home equity and mortgage, including in the Private Bank. Results also include a decrease in Commercial loans of $292 million reflecting paydowns in commercial real estate and C&I balance sheet optimization actions, partially offset by higher line utilization.

Average interest-earning assets of $196.3 billion decreased $2.1 billion, or 1%, reflecting a $2.6 billion decrease in total loans and leases and loans held for sale and a $1.4 billion decrease in cash held in interest-bearing deposits, partially offset by a $1.8 billion increase in investments in securities.

------

**Citizens Financial Group, Inc.**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | | | **2Q25 change from** | **2Q25 change from** |
| **Deposits**<br>*($s in millions)* |<br>**2Q25** |<br>**1Q25** |<br>**2Q24** | **1Q25** | **2Q24** |
| **Period-end deposits** |  |  |  | $**%** | $**%** |
| Non-interest bearing demand | $38001 | $37556 | $36927 | 1% | 3% |
| Checking with interest | 34918 | 34456 | 34421 | 1 | 1 |
| Savings | 25400 | 25765 | 27240 | (1) | (7) |
| Money market | 55638 | 55996 | 52599 | (1) | 6 |
| Time | 21129 | 23803 | 25165 | (11) | (16) |
| Total period-end deposits | $175086 | $177576 | $176352 | (1)% | (1)% |
| **Average deposits** |  |  |  |  |  |
| Non-interest bearing demand | $37350 | $36543 | $36205 | 2% | 3% |
| Checking with interest | 33847 | 32693 | 33659 | 4 | 1 |
| Savings | 25536 | 25760 | 27560 | (1) | (7) |
| Money market | 54716 | 54432 | 51570 | 1 | 6 |
| Time | 22679 | 23277 | 24676 | (3) | (8) |
| Total average deposits | $174128 | $172705 | $173670 | 1% | —% |

---

---

| | | |
|:---|:---|:---|
| **Second quarter 2025** | **vs.** | **first quarter 2025** |

---

Total period-end deposits of $175.1 billion are down 1%, largely reflecting a $2.7 billion decline in higher-cost Treasury brokered and retail time deposits, partially offset by growth in Commercial non-interest bearing demand and checking with interest.

Average deposits of $174.1 billion increased 1%, driven by growth in retail and Private bank lower-cost categories, partially offset by a reduction in higher-cost Treasury brokered and retail time deposits.

---

| | | |
|:---|:---|:---|
| **Second quarter 2025** | **vs.** | **second quarter 2024** |

---

Total period-end deposits of $175.1 billion decreased 1%, as growth in the Private Bank of $4.7 billion and an increase in Consumer deposits was more than offset by a reduction in higher-cost Treasury brokered deposits and slightly lower Commercial balances.

Average deposits of $174.1 billion were up slightly.

------

**Citizens Financial Group, Inc.**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | | | **2Q25 change from** | **2Q25 change from** |
| **Borrowed Funds**<br>*($s in millions)* |<br>**2Q25** |<br>**1Q25** |<br>**2Q24** | **1Q25** | **2Q24** |
| **Period-end borrowed funds** |  |  |  | $% | $% |
| Short-term borrowed funds | $249 | $47 | $2 | NM | NM |
| Long-term borrowed funds |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;FHLB advances | 1542 | 42 | 553 | NM | 179 |
| &nbsp;&nbsp;&nbsp;Senior debt | 6821 | 7568 | 6512 | (10) | 5 |
| &nbsp;&nbsp;&nbsp;Subordinated debt and other debt | 1752 | 1772 | 1827 | (1) | (4) |
| &nbsp;&nbsp;&nbsp;Auto collateralized borrowings | 2411 | 2885 | 4190 | (16) | (42) |
| Total borrowed funds | $12775 | $12314 | $13084 | 4% | (2)% |
| **Average borrowed funds** |  |  |  |  |  |
| Short-term borrowed funds | $925 | $675 | $325 | 37% | 185% |
| Long-term borrowed funds |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;FHLB advances | 1063 | 595 | 2375 | 79% | (55) |
| &nbsp;&nbsp;&nbsp;Senior debt | 7042 | 7133 | 6684 | (1) | 5 |
| &nbsp;&nbsp;&nbsp;Subordinated debt and other debt | 1759 | 1809 | 1826 | (3) | (4) |
| &nbsp;&nbsp;&nbsp;Auto collateralized borrowings | 2635 | 3120 | 4207 | (16) | (37) |
| Total average borrowed funds | $13424 | $13332 | $15417 | 1% | (13)% |

---

---

| | | |
|:---|:---|:---|
| **Second quarter 2025** | **vs.** | **first quarter 2025** |

---

Period-end borrowed funds increased $461 million, as a $1.5 billion increase in FHLB advances was largely offset by a decrease in senior debt of $747 million, reflecting a debt maturity and a decrease in collateralized borrowings on auto loans of $474 million given runoff of the associated portfolio.

Average borrowed funds increased $92 million, reflecting a $468 million increase in FHLB advances largely offset by a $485 million decrease in auto collateralized borrowings.

---

| | | |
|:---|:---|:---|
| **Second quarter 2025** | **vs.** | **second quarter 2024** |

---

Period-end borrowed funds decreased by $309 million, reflecting a decrease of $1.8 billion in auto collateralized borrowings, partially offset by an increase of $1.0 billion in FHLB advances and $309 million in senior debt given net issuances.

Average borrowed funds decreased by $2.0 billion, reflecting a $1.6 billion decrease in auto collateralized borrowings, given runoff of the associated portfolio, and a decrease of $1.3 billion in FHLB advances, partially offset by a $358 million increase in senior debt issuances.

------

**Citizens Financial Group, Inc.**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | | | **2Q25 change from** | **2Q25 change from** |
| **Capital**<br>*($s and shares in millions, except per share data)* |<br>**2Q25** |<br>**1Q25** |<br>**2Q24** | **1Q25** | **2Q24** |
| **Period-end capital** |  |  |  | $% | $% |
| Stockholders' equity | $25234 | $24866 | $23869 | 1% | 6% |
| Stockholders' common equity | 23121 | 22753 | 21757 | 2 | 6 |
| Tangible common equity | 15246 | 14867 | 13866 | 3 | 10 |
| Tangible book value per common share | $35.23 | $33.97 | $30.61 | 4% | 15% |
| Common shares - at end of period | 432.8 | 437.7 | 453.0 | (1) | (4) |
| Common shares - average (diluted) | 436.5 | 442.2 | 456.6 | (1)% | (4)% |
| Common equity tier 1 capital ratio<sup>(1)</sup> | 10.6% | 10.6% | 10.7% |  |  |
| Total capital ratio<sup>(1)</sup> | 13.8 | 13.9 | 14.0 |  |  |
| Tangible common equity ratio | 7.2 | 7.0 | 6.5 |  |  |
| Tier 1 leverage ratio<sup>(1)</sup> | 9.4 | 9.4 | 9.4 |  |  |
| (1) Current reporting-period regulatory capital ratios are preliminary. | (1) Current reporting-period regulatory capital ratios are preliminary. | (1) Current reporting-period regulatory capital ratios are preliminary. | (1) Current reporting-period regulatory capital ratios are preliminary. | (1) Current reporting-period regulatory capital ratios are preliminary. | (1) Current reporting-period regulatory capital ratios are preliminary. |

---

**Second quarter 2025**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The CET1 capital ratio of 10.6% as of June 30, 2025 compares with 10.6% at March 31, 2025 and 10.7% at June 30, 2024.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Total capital ratio of 13.8% compares with 13.9% at March 31, 2025 and 14.0% as of June 30, 2024.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Tangible common equity ratio of 7.2% compares with 7.0% at March 31, 2025 and 6.5% as of June 30, 2024.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Tangible book value per common share of $35.23 increased 4% compared with first quarter 2025, reflecting higher net income and AOCI impact from lower long-term rates.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Paid $185 million in common dividends to shareholders during second quarter 2025. This compares with $186 million in common dividends during first quarter 2025 and $193 million during second quarter 2024.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Repurchased $200 million of common shares during second quarter 2025, compared with $200 million in first quarter 2025 and $200 million in second quarter 2024.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The Board of Directors increased the capacity of the Company's common share repurchase program to $1.5 billion on June 12, 2025.

------

**Citizens Financial Group, Inc.**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | | | **2Q25 change from** | **2Q25 change from** | **2Q25 change from** | **2Q25 change from** | **2Q25 change from** | **2Q25 change from** |
| **Credit quality review**<br>*($s in millions)* |<br>**2Q25** |<br>**1Q25** |<br>**2Q24** | **1Q25** | **1Q25** | **1Q25** | **2Q24** | **2Q24** | **2Q24** |
|  |  |  |  | **$/bps/%** | **$/bps/%** | **%** | **$/bps/%** | **$/bps/%** | **%** |
| Nonaccrual loans and leases<sup>(1)</sup> | $1524 | $1582 | $1527 | $(58) |  | (4)% | $(3) |  | —% |
| 90+ days past due and accruing<sup>(2)</sup> | 194 | 155 | 228 | 39 |  | 25 | (34) |  | (15) |
| Net charge-offs | 167 | 200 | 184 | (33) |  | (17) | (17) |  | (9) |
| Provision for credit losses | 164 | 153 | 182 | 11 |  | 7 | (18) |  | (10) |
| Allowance for credit losses | $2209 | $2212 | $2306 | $(3) |  | —% | $(97) |  | (4)% |
| Nonaccrual loans and leases to loans and leases | 1.09% | 1.15% | 1.08% | (6) | bps |  | 1 | bps |  |
| Net charge-offs as a % of total loans and leases | 0.48 | 0.58 | 0.52 | (10) |  |  | (4) |  |  |
| Allowance for credit losses to loans and leases | 1.59 | 1.61 | 1.63 | (2) |  |  | (4) |  |  |
| Allowance for credit losses to nonaccrual loans and leases | 145% | 140% | 151% | 5 | % |  | (6) | % |  |
| (1) Loans fully or partially guaranteed by the FHA, VA and USDA are classified as accruing.  | (1) Loans fully or partially guaranteed by the FHA, VA and USDA are classified as accruing.  | (1) Loans fully or partially guaranteed by the FHA, VA and USDA are classified as accruing.  | (1) Loans fully or partially guaranteed by the FHA, VA and USDA are classified as accruing.  | (1) Loans fully or partially guaranteed by the FHA, VA and USDA are classified as accruing.  | (1) Loans fully or partially guaranteed by the FHA, VA and USDA are classified as accruing.  | (1) Loans fully or partially guaranteed by the FHA, VA and USDA are classified as accruing.  | (1) Loans fully or partially guaranteed by the FHA, VA and USDA are classified as accruing.  | (1) Loans fully or partially guaranteed by the FHA, VA and USDA are classified as accruing.  | (1) Loans fully or partially guaranteed by the FHA, VA and USDA are classified as accruing.  |
| (2) 90+ days past due and accruing includes $128 million, $137 million, and $168 million of loans fully or partially guaranteed by the FHA, VA, and USDA for June 30, 2025, March 31, 2025, and June 30, 2024, respectively. | (2) 90+ days past due and accruing includes $128 million, $137 million, and $168 million of loans fully or partially guaranteed by the FHA, VA, and USDA for June 30, 2025, March 31, 2025, and June 30, 2024, respectively. | (2) 90+ days past due and accruing includes $128 million, $137 million, and $168 million of loans fully or partially guaranteed by the FHA, VA, and USDA for June 30, 2025, March 31, 2025, and June 30, 2024, respectively. | (2) 90+ days past due and accruing includes $128 million, $137 million, and $168 million of loans fully or partially guaranteed by the FHA, VA, and USDA for June 30, 2025, March 31, 2025, and June 30, 2024, respectively. | (2) 90+ days past due and accruing includes $128 million, $137 million, and $168 million of loans fully or partially guaranteed by the FHA, VA, and USDA for June 30, 2025, March 31, 2025, and June 30, 2024, respectively. | (2) 90+ days past due and accruing includes $128 million, $137 million, and $168 million of loans fully or partially guaranteed by the FHA, VA, and USDA for June 30, 2025, March 31, 2025, and June 30, 2024, respectively. | (2) 90+ days past due and accruing includes $128 million, $137 million, and $168 million of loans fully or partially guaranteed by the FHA, VA, and USDA for June 30, 2025, March 31, 2025, and June 30, 2024, respectively. | (2) 90+ days past due and accruing includes $128 million, $137 million, and $168 million of loans fully or partially guaranteed by the FHA, VA, and USDA for June 30, 2025, March 31, 2025, and June 30, 2024, respectively. | (2) 90+ days past due and accruing includes $128 million, $137 million, and $168 million of loans fully or partially guaranteed by the FHA, VA, and USDA for June 30, 2025, March 31, 2025, and June 30, 2024, respectively. | (2) 90+ days past due and accruing includes $128 million, $137 million, and $168 million of loans fully or partially guaranteed by the FHA, VA, and USDA for June 30, 2025, March 31, 2025, and June 30, 2024, respectively. |

---

---

| | | |
|:---|:---|:---|
| **Second quarter 2025** | **vs.** | **first quarter 2025** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Nonaccrual loans of $1.5 billion decreased $58 million, or 4%, primarily driven by a decline in C&I, other retail and continued runoff of the Non-Core auto portfolio. The nonaccrual loans to total loans ratio of 1.09% decreased from 1.15% at March 31, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Net charge-offs of $167 million, or 48 basis points of average loans and leases, compares with 58 basis points in the prior quarter which included a $25 million, or 7 basis point impact from the Non-Core transaction (an agreement entered into in the first quarter to sell ~$1.9 billion of Non-Core education loans). Excluding the impact of this transaction, net charge-offs for first quarter 2025 were 51 basis points. Commercial net charge-offs are up modestly, given an increase in C&I. Retail net charge-offs declined by $44 million compared with first quarter 2025 which included the recognition of a $25 million charge-off associated with the Non-Core transaction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The second quarter 2025 provision for credit losses of $164 million compares with $153 million for first quarter 2025. The ratio of allowance for credit losses to total loans of 1.59% was down slightly compared with 1.61% as of March 31, 2025. The decrease is primarily driven by improving loan mix, reflecting the Non-Core portfolio reduction, declining commercial real estate, and originations in retail real estate secured and commercial categories that have a lower loss content profile.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The allowance for credit losses to nonaccrual loans and leases ratio of 145% compares with 140% as of March 31, 2025.

---

| | | |
|:---|:---|:---|
| **Second quarter 2025** | **vs.** | **second quarter 2024** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Nonaccrual loans were broadly stable across commercial and retail. The nonaccrual loans to total loans ratio of 1.09% compares with 1.08% at June 30, 2024.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Net charge-offs of $167 million, or 48 basis points of average loans and leases compares with 52 basis points for second quarter 2024. This reflects a $4 million decrease in commercial, and a $13 million decrease in retail primarily driven by a reduction in education tied to the Non-Core transaction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Provision for credit losses of $164 million decreased compared with a $182 million provision in second quarter 2024 reflecting the runoff of the Non-Core portfolio and improving loan mix.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Allowance for credit losses of $2.2 billion decreased $97 million compared with June 30, 2024 given the benefit of Non-Core runoff, the Non-Core transaction and other improvements in loan mix. Allowance for credit losses ratio of 1.59% as of June 30, 2025, compares with 1.63% as of June 30, 2024.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The allowance for credit losses to nonaccrual loans and leases ratio of 145% compares with 151% as of June 30, 2024.

------

**Citizens Financial Group, Inc.**

**<u>Corresponding Financial Tables and Information</u>**

Investors are encouraged to review the foregoing summary and discussion of Citizens' earnings and financial condition in conjunction with the detailed financial tables and other information available on the Investor Relations portion of the company's website at www.citizensbank.com/about-us.

**Media:**&nbsp;&nbsp;&nbsp;&nbsp;Peter Lucht - (781) 655-2289

**Investors:** Kristin Silberberg - (203) 900-6854

**<u>Conference Call</u>**

CFG management will host a live conference call today with details as follows:

Time:&nbsp;&nbsp;&nbsp;&nbsp;10:00 am ET

Dial-in: (800) 369-1703, conference ID 3488708

Webcast/Presentation: The live webcast will be available at http://investor.citizensbank.com under Events & Presentations.

Replay Information: A replay of the conference call will be available beginning at 12:00 pm ET on July 17, 2025 through August 17, 2025. The webcast replay will be available at http://investor.citizensbank.com under Events & Presentations.

**<u>About Citizens Financial Group, Inc</u>**.

Citizens Financial Group, Inc. is one of the nation's oldest and largest financial institutions, with $218.3 billion in assets as of June 30, 2025. Headquartered in Providence, Rhode Island, Citizens offers a broad range of retail and commercial banking products and services to individuals, small businesses, middle-market companies, large corporations and institutions. Citizens helps its customers reach their potential by listening to them and by understanding their needs in order to offer tailored advice, ideas and solutions. In Consumer Banking, Citizens provides an integrated experience that includes mobile and online banking, a full-service customer contact center and the convenience of approximately 3,000 ATMs and approximately 1,000 branches in 14 states and the District of Columbia. Consumer Banking products and services include a full range of banking, lending, savings, wealth management and small business offerings. In Commercial Banking, Citizens offers a broad complement of financial products and solutions, including lending and leasing, deposit and treasury management services, foreign exchange, interest rate and commodity risk management solutions, as well as loan syndication, corporate finance, merger and acquisition, and debt and equity capital markets capabilities. More information is available at www.citizensbank.com or visit us on X, LinkedIn or Facebook.

------

**Citizens Financial Group, Inc.**

**<u>Non-GAAP Financial Measures and Reconciliations</u>**

**<u>Non-GAAP Financial Measures:</u>**

This document contains non-GAAP financial measures, with those denoted as Underlying for any given reporting period excluding certain items that may occur in that period which management does not consider indicative of the Company's on-going financial performance. We believe these non-GAAP financial measures provide useful information to investors because they are used by our management to evaluate our operating performance and make day-to-day operating decisions. In addition, we believe those measures denoted as Underlying in any given reporting period reflect our on-going financial performance in that period and, accordingly, are useful to consider in addition to our GAAP financial results. See the following pages for reconciliations of our non-GAAP measures to the most directly comparable GAAP financial measures.

We caution investors not to place undue reliance on such non-GAAP financial measures, but to consider them with the most directly comparable GAAP measures. Non-GAAP financial measures have limitations as analytical tools and should not be considered in isolation or as a substitute for our results reported under GAAP.

------

**Citizens Financial Group, Inc.**

**Non-GAAP financial measures and reconciliations**

(in millions, except share, per-share and ratio data)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** |
| | | | | | **2Q25 Change** | **2Q25 Change** |
| | |<br>**2Q25** |<br>**1Q25** |<br>**2Q24** | **1Q25** | **2Q24** |
| | | | | | $**%** | $**%** |
| **Noninterest income, Underlying:** | | | | | | |
| Noninterest income (GAAP) |  | $600 | $544 | $553 | 10% | 8% |
| Less: Notable items |  |  |  | 4 |  | (100) |
| Noninterest income, Underlying (non-GAAP) |  | $600 | $544 | $549 | 10% | 9% |
| **Total revenue, Underlying:** |  |  |  |  |  |  |
| Total revenue (GAAP) | A | $2037 | $1935 | $1963 | 5% | 4% |
| Less: Notable items |  |  |  | 4 |  | (100) |
| Total revenue, Underlying (non-GAAP) | B | $2037 | $1935 | $1959 | 5% | 4% |
| **Noninterest expense, Underlying:** |  |  |  |  |  |  |
| Noninterest expense (GAAP) | C | $1319 | $1314 | $1301 | —% | 1% |
| Less: Notable items |  |  |  | 36 |  | (100) |
| Noninterest expense, Underlying (non-GAAP) | D | $1319 | $1314 | $1265 | —% | 4% |
| **Pre-provision profit:** |  |  |  |  |  |  |
| Total revenue (GAAP) | A | $2037 | $1935 | $1963 | 5% | 4% |
| Less: Noninterest expense (GAAP) | C | 1319 | 1314 | 1301 |  | 1 |
| Pre-provision profit (non-GAAP) |  | $718 | $621 | $662 | 16% | 8% |
| **Pre-provision profit, Underlying:** |  |  |  |  |  |  |
| Total revenue, Underlying (non-GAAP) | B | $2037 | $1935 | $1959 | 5% | 4% |
| Less: Noninterest expense, Underlying (non-GAAP) | D | 1319 | 1314 | 1265 |  | 4 |
| Pre-provision profit, Underlying (non-GAAP) |  | $718 | $621 | $694 | 16% | 3% |
| **Income before income tax expense, Underlying:** |  |  |  |  |  |  |
| Income before income tax expense (GAAP) | E | $554 | $468 | $480 | 18% | 15% |
| Less: Income (expense) before income tax expense (benefit) related to notable items |  |  |  | (32) |  | 100 |
| Income before income tax expense, Underlying (non-GAAP) | F | $554 | $468 | $512 | 18% | 8% |
| **Income tax expense, Underlying:** |  |  |  |  |  |  |
| Income tax expense (GAAP) | G | $118 | $95 | $88 | 24% | 34% |
| Less: Income tax expense (benefit) related to notable items |  |  |  | (16) |  | 100 |
| Income tax expense, Underlying (non-GAAP) | H | $118 | $95 | $104 | 24% | 13% |
| **Net income, Underlying:** |  |  |  |  |  |  |
| Net income (GAAP) | I | $436 | $373 | $392 | 17% | 11% |
| Add: Notable items, net of income tax benefit |  |  |  | 16 |  | (100) |
| Net income, Underlying (non-GAAP) | J | $436 | $373 | $408 | 17% | 7% |
| **Net income available to common stockholders, Underlying:** |  |  |  |  |  |  |
| Net income available to common stockholders (GAAP) | K | $402 | $340 | $357 | 18% | 13% |
| Add: Notable items, net of income tax benefit |  |  |  | 16 |  | (100) |
| Net income available to common stockholders, Underlying (non-GAAP) | L | $402 | $340 | $373 | 18% | 8% |

---

------

**Citizens Financial Group, Inc.**

**Non-GAAP financial measures and reconciliations (continued)**

(in millions, except share, per-share and ratio data)

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** |
| | | | | | **2Q25 Change** | **2Q25 Change** | **2Q25 Change** | **2Q25 Change** | **2Q25 Change** | **2Q25 Change** |
| | |<br>**2Q25** |<br>**1Q25** |<br>**2Q24** | **1Q25** | **1Q25** | **1Q25** | **2Q24** | **2Q24** | **2Q24** |
| | | | | | **$/bps** | **$/bps** | **%** | **$/bps** | **$/bps** | **%** |
| **Operating leverage:** | | | | | | | | | | |
| Total revenue (GAAP) | A | $2037 | $1935 | $1963 | $102 |  | 5.35% | $74 |  | 3.78% |
| Less: Noninterest expense (GAAP) | C | 1319 | 1314 | 1301 | 5 |  | 0.47 | 18 |  | 1.42 |
| Operating leverage |  |  |  |  |  |  | 4.88% |  |  | 2.36% |
| **Operating leverage, Underlying:** |  |  |  |  |  |  |  |  |  |  |
| Total revenue, Underlying (non-GAAP) | B | $2037 | $1935 | $1959 | $102 |  | 5.35% | $78 |  | 4.02% |
| Less: Noninterest expense, Underlying (non-GAAP) | D | 1319 | 1314 | 1265 | 5 |  | 0.47 | 54 |  | 4.29 |
| Operating leverage, Underlying (non-GAAP) |  |  |  |  |  |  | 4.88% |  |  | (0.27%) |
| **Efficiency ratio and efficiency ratio, Underlying:** |  |  |  |  |  |  |  |  |  |  |
| Efficiency ratio | C/A | 64.76% | 67.91% | 66.27% | (315) | bps |  | (151) | bps |  |
| Efficiency ratio, Underlying (non-GAAP) | D/B | 64.76 | 67.91 | 64.59 | (315) | bps |  | 17 | bps |  |
| **Effective income tax rate and effective income tax rate, Underlying:** |  |  |  |  |  |  |  |  |  |  |
| Effective income tax rate | G/E | 21.37% | 20.26% | 18.49% | 111 | bps |  | 288 | bps |  |
| Effective income tax rate, Underlying (non-GAAP) | H/F | 21.37 | 20.26 | 20.33 | 111 | bps |  | 104 | bps |  |
| **Return on average common equity and return on average common equity, Underlying:** |  |  |  |  |  |  |  |  |  |  |
| Average common equity (GAAP) | M | $22494 | $22188 | $21427 | $306 |  | 1% | $1067 |  | 5% |
| Return on average common equity | K/M | 7.18% | 6.21% | 6.70% | 97 | bps |  | 48 | bps |  |
| Return on average common equity, Underlying (non-GAAP) | L/M | 7.18 | 6.21 | 7.00 | 97 | bps |  | 18 | bps |  |
| **Return on average tangible common equity and return on average tangible common equity, Underlying:** |  |  |  |  |  |  |  |  |  |  |
| Average common equity (GAAP) | M | $22494 | $22188 | $21427 | $306 |  | 1% | $1067 |  | 5% |
| Less: Average goodwill (GAAP) |  | 8187 | 8187 | 8188 |  |  |  | (1) |  |  |
| Less: Average other intangibles (GAAP) |  | 134 | 142 | 144 | (8) |  | (6) | (10) |  | (7) |
| Add: Average deferred tax liabilities related to goodwill and other intangible assets (GAAP) |  | 438 | 438 | 432 |  |  |  | 6 |  | 1 |
| Average tangible common equity (non-GAAP) | N | $14611 | $14297 | $13527 | $314 |  | 2% | $1084 |  | 8% |
| Return on average tangible common equity (non-GAAP) | K/N | 11.05% | 9.64% | 10.61% | 141 | bps |  | 44 | bps |  |
| Return on average tangible common equity, Underlying (non-GAAP) | L/N | 11.05 | 9.64 | 11.09 | 141 | bps |  | (4) | bps |  |
| **Return on average total assets and return on average total assets, Underlying:** |  |  |  |  |  |  |  |  |  |  |
| Average total assets (GAAP) | O | $217661 | $216309 | $219222 | $1352 |  | 1% | ($1561) |  | (1%) |
| Return on average total assets | I/O | 0.80% | 0.70% | 0.72% | 10 | bps |  | 8 | bps |  |
| Return on average total assets, Underlying (non-GAAP) | J/O | 0.80 | 0.70 | 0.75 | 10 | bps |  | 5 | bps |  |
| **Return on average total tangible assets and return on average total tangible assets, Underlying:** |  |  |  |  |  |  |  |  |  |  |
| Average total assets (GAAP) | O | $217661 | $216309 | $219222 | $1352 | $1352 | 1% | ($1561) | ($1561) | (1%) |
| Less: Average goodwill (GAAP) |  | 8187 | 8187 | 8188 |  |  |  | (1) |  |  |
| Less: Average other intangibles (GAAP) |  | 134 | 142 | 144 | (8) |  | (6) | (10) |  | (7) |
| Add: Average deferred tax liabilities related to goodwill and other intangible assets (GAAP) |  | 438 | 438 | 432 |  |  |  | 6 |  | 1 |
| Average tangible assets (non-GAAP) | P | $209778 | $208418 | $211322 | $1360 |  | 1% | ($1544) |  | (1%) |
| Return on average total tangible assets (non-GAAP) | I/P | 0.83% | 0.73% | 0.75% | 10 | bps |  | 8 | bps |  |
| Return on average total tangible assets, Underlying (non-GAAP) | J/P | 0.83 | 0.73 | 0.78 | 10 | bps |  | 5 | bps |  |

---

------

**Citizens Financial Group, Inc.**

**Non-GAAP financial measures and reconciliations (continued)**

(in millions, except share, per-share and ratio data)

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** |
| | | | | | **2Q25 Change** | **2Q25 Change** | **2Q25 Change** | **2Q25 Change** |
| | |<br>**2Q25** |<br>**1Q25** |<br>**2Q24** | **1Q25** | **1Q25** | **2Q24** | **2Q24** |
| | | | | | **$/bps** | **%** | **$/bps** | **%** |
| **Book value per common share and tangible book value per common share:** | | | | | | | | |
| Common shares - at period-end (GAAP) | Q | 432768811 | 437668127 | 452961853 | (4899316) | (1%) | (20193042) | (4%) |
| Common stockholders' equity (GAAP) | R | $23121 | $22753 | $21757 | $368 | 2 | $1364 | 6 |
| Less: Goodwill (GAAP) |  | 8187 | 8187 | 8187 |  |  |  |  |
| Less: Other intangible assets (GAAP) |  | 128 | 137 | 139 | (9) | (7) | (11) | (8) |
| Add: Deferred tax liabilities related to goodwill and other intangible assets (GAAP) |  | 440 | 438 | 435 | 2 |  | 5 | 1 |
| Tangible common equity (non-GAAP) | S | $15246 | $14867 | $13866 | $379 | 3% | $1380 | 10% |
| Book value per common share | R/Q | $53.43 | $51.99 | $48.03 | $1.44 | 3% | $5.40 | 11% |
| Tangible book value per common share (non-GAAP) | S/Q | $35.23 | $33.97 | $30.61 | $1.26 | 4% | $4.62 | 15% |
| **Net income per average common share - basic and diluted and net income per average common share - basic and diluted, Underlying:** |  |  |  |  |  |  |  |  |
| Average common shares outstanding - basic (GAAP) | T | 433640210 | 438320757 | 454142489 | (4680547) | (1%) | (20502279) | (5%) |
| Average common shares outstanding - diluted (GAAP) | U | 436539774 | 442200180 | 456561022 | (5660406) | (1) | (20021248) | (4) |
| Net income per average common share - basic (GAAP) | K/T | $0.93 | $0.78 | $0.79 | $0.15 | 19 | $0.14 | 18 |
| Net income per average common share - diluted (GAAP) | K/U | 0.92 | 0.77 | 0.78 | 0.15 | 19 | 0.14 | 18 |
| Net income per average common share - basic, Underlying (non-GAAP) | L/T | 0.93 | 0.78 | 0.82 | 0.15 | 19 | 0.11 | 13 |
| Net income per average common share - diluted, Underlying (non-GAAP) | L/U | 0.92 | 0.77 | 0.82 | 0.15 | 19 | 0.10 | 12 |
| **Common equity ratio and tangible common equity ratio:** |  |  |  |  |  |  |  |  |
| Total assets (GAAP) | V | $218310 | $220148 | $219938 | (1838) | (1) | ($1628) | (1%) |
| Less: Goodwill (GAAP) |  | 8187 | 8187 | 8187 |  |  |  |  |
| Less: Other intangible assets (GAAP) |  | 128 | 137 | 139 | (9) | (7) | (11) | (8) |
| Add: Deferred tax liabilities related to goodwill and other intangible assets (GAAP) |  | 440 | 438 | 435 | 2 |  | 5 | 1 |
| Tangible assets (non-GAAP) | W | $210435 | $212262 | $212047 | ($1827) | (1%) | ($1612) | (1%) |
| Common equity ratio (GAAP) | R/V | 10.6% | 10.3% | 9.9% | 25 bps |  | 70 bps |  |
| Tangible common equity ratio (non-GAAP) | S/W | 7.2 | 7.0 | 6.5 | 24 bps |  | 70 bps |  |

---

------

**Citizens Financial Group, Inc.**

**Non-GAAP financial measures and reconciliations (continued)**

(in millions, except share, per-share and ratio data)

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** |
| | | | | | **2Q25 Change** | **2Q25 Change** | **2Q25 Change** | **2Q25 Change** | **2Q25 Change** | **2Q25 Change** |
| | |<br>**2Q25** |<br>**1Q25** |<br>**2Q24** | **1Q25** | **1Q25** | **1Q25** | **2Q24** | **2Q24** | **2Q24** |
| | | | | | **$/bps** | **$/bps** | **%** | **$/bps** | **$/bps** | **%** |
| **Net interest income and net interest margin on an FTE basis:** | | | | | | | | | | |
| Net interest income (annualized) (GAAP) | X | $5770 | $5637 | $5674 | $133 |  | 2% | $96 |  | 2% |
| Average interest-earning assets (GAAP) | Y | 196318 | 195058 | 198465 | 1260 |  | 1 | (2147) |  | (1) |
| Net interest margin (GAAP) | X/Y | 2.94% | 2.89% | 2.86% | 5 | bps |  | 8 | bps |  |
| Net interest income (GAAP) |  | $1437 | $1391 | $1410 | $46 |  | 3% | $27 |  | 2% |
| FTE adjustment |  | 4 | 4 | 5 |  |  |  | (1) |  | (20) |
| Net interest income on an FTE basis (non-GAAP) |  | 1441 | 1395 | 1415 | 46 |  | 3 | 26 |  | 2 |
| Net interest income on an FTE basis (annualized) (non-GAAP) | Z | 5786 | 5653 | 5692 | 133 |  | 2 | 94 |  | 2 |
| Net interest margin on an FTE basis (non-GAAP) | Z/Y | 2.95% | 2.90% | 2.87% | 5 | bps |  | 8 | bps |  |
| **Card fees, Underlying:** |  |  |  |  |  |  |  |  |  |  |
| Card fees (GAAP) |  | $90 | $83 | $92 | $7 |  | 8 | ($2) |  | (2%) |
| Less: Notable items |  |  |  | 4 |  |  |  | (4) |  | (100) |
| Card fees, Underlying (non-GAAP) |  | $90 | $83 | $88 | $7 |  | 8 | $2 |  | 2% |
| **Salaries and employee benefits, Underlying:** |  |  |  |  |  |  |  |  |  |  |
| Salaries and employee benefits (GAAP) |  | $681 | $696 | $645 | ($15) |  | (2%) | $36 |  | 6% |
| Less: Notable items |  |  |  | 8 |  |  |  | (8) |  | (100) |
| Salaries and employee benefits, Underlying (non-GAAP) |  | $681 | $696 | $637 | ($15) |  | (2%) | $44 |  | 7% |
| **Equipment and software, Underlying:** |  |  |  |  |  |  |  |  |  |  |
| Equipment and software (GAAP) |  | $193 | $194 | $190 | ($1) |  | (1%) | $3 |  | 2% |
| Less: Notable items |  |  |  | 4 |  |  |  | (4) |  | (100) |
| Equipment and software, Underlying (non-GAAP) |  | $193 | $194 | $186 | ($1) |  | (1%) | $7 |  | 4% |
| **Outside services, Underlying:** |  |  |  |  |  |  |  |  |  |  |
| Outside services (GAAP) |  | $169 | $155 | $165 | $14 |  | 9% | $4 |  | 2% |
| Less: Notable items |  |  |  | 10 |  |  |  | (10) |  | (100) |
| Outside services, Underlying (non-GAAP) |  | $169 | $155 | $155 | $14 |  | 9% | $14 |  | 9% |
| **Occupancy, Underlying:** |  |  |  |  |  |  |  |  |  |  |
| Occupancy (GAAP) |  | $108 | $112 | $113 | ($4) |  | (4%) | ($5) |  | (4%) |
| Less: Notable items |  |  |  | 6 |  |  |  | (6) |  | (100) |
| Occupancy, Underlying (non-GAAP) |  | $108 | $112 | $107 | ($4) |  | (4%) | $1 |  | 1% |
| **Other operating expense, Underlying:** |  |  |  |  |  |  |  |  |  |  |
| Other operating expense (GAAP) |  | $168 | $157 | $188 | $11 |  | 7% | ($20) |  | (11%) |
| Less: Notable items |  |  |  | 8 |  |  |  | (8) |  | (100) |
| Other operating expense, Underlying (non-GAAP) |  | $168 | $157 | $180 | $11 |  | 7% | ($12) |  | (7%) |

---

------

**Citizens Financial Group, Inc.**

**Forward-Looking Statements**

This document contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statement that does not describe historical or current facts is a forward-looking statement. These statements often include the words "believes," "expects," "anticipates," "estimates," "intends," "plans," "goals," "targets," "initiatives," "potentially," "probably," "projects," "outlook," "guidance" or similar expressions or future conditional verbs such as "may," "will," "likely", "should," "would," and "could."

Forward-looking statements are based upon the current beliefs and expectations of management, and on information currently available to management. Our statements speak as of the date hereof, and we do not assume any obligation to update these statements or to update the reasons why actual results could differ from those contained in such statements in light of new information or future events. We caution you, therefore, against relying on any of these forward-looking statements. They are neither statements of historical fact nor guarantees or assurances of future performance. While there is no assurance that any list of risks and uncertainties or risk factors is complete, important factors that could cause actual results to differ materially from those in the forward-looking statements include the following, without limitation:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Negative economic, business and political conditions, including as a result of the interest rate environment, supply chain disruptions, tariffs, inflationary pressures and labor shortages, that adversely affect the general economy, housing prices, the job market, consumer confidence and spending habits;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The general state of the economy and employment, as well as general business and economic conditions, and changes in the competitive environment;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Our capital and liquidity requirements under regulatory standards and our ability to generate capital and liquidity on favorable terms;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The effect of changes in our credit ratings on our cost of funding, access to capital markets, ability to market our securities, and overall liquidity position;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The effect of changes in the level of commercial and consumer deposits on our funding costs and net interest margin;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Our ability to execute on our strategic business initiatives and achieve our financial performance goals across our Consumer and Commercial businesses, including our Private Bank;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The effects of geopolitical instability, including the wars in Ukraine and the Middle East, on economic and market conditions, inflationary pressures and the interest rate environment, commodity price and foreign exchange rate volatility, and heightened cybersecurity risks;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Our ability to comply with heightened supervisory requirements and expectations as well as new or amended regulations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Liabilities and business restrictions resulting from litigation and regulatory investigations;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The effect of changes in interest rates on our net interest income, net interest margin and our mortgage originations, mortgage servicing rights and mortgages held for sale;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Changes in interest rates and market liquidity, as well as the magnitude of such changes, which may reduce interest margins, impact funding sources and affect the ability to originate and distribute financial products in the primary and secondary markets;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Financial services reform and other current, pending or future legislation or regulation that could have a negative effect on our revenue and businesses;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Environmental risks, such as physical or transition risks associated with climate change, and social and governance risks, that could adversely affect our reputation, operations, business, and customers;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• A failure in or breach of our compliance with laws, as well as operational or security systems or infrastructure, or those of our third-party vendors or other service providers, including as a result of cyber-attacks; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Management's ability to identify and manage these and other risks.

In addition to the above factors, we also caution that the actual amounts and timing of any future common stock dividends or share repurchases will be subject to various factors, including our capital position, financial performance, capital impacts of strategic initiatives, market conditions, and regulatory considerations, as well as any other factors that our Board of Directors deems relevant in making such a determination. Therefore, there can be no assurance that we will repurchase shares from or pay any dividends to holders of our common stock, or as to the amount of any such repurchases or dividends.

More information about factors that could cause actual results to differ materially from those described in the forward-looking statements can be found in the "Risk Factors" section in Part I, Item 1A of our Annual Report on Form 10-K for the fiscal year ended December 31, 2024 as filed with the Securities and Exchange Commission.

Note: Per share amounts and ratios presented in this document are calculated using whole dollars.

------

**Citizens Financial Group, Inc.**

CFG-IR

## Exhibit 99.2

![](cfg2q25earningspresentat001.jpg)

2Q25 Financial Results July 17, 2025

------

![](cfg2q25earningspresentat002.jpg)

2 Forward-looking statements and use of non-GAAP financial measures This document contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statement that does not describe historical or current facts is a forward- looking statement. These statements often include the words "believes," "expects," "anticipates," "estimates," "intends," "plans," "goals," "targets," "initiatives," "potentially," "probably," "projects," "outlook," "guidance" or similar expressions or future conditional verbs such as "may," "will," "likely", "should," "would," and "could." Forward-looking statements are based upon the current beliefs and expectations of management, and on information currently available to management. Our statements speak as of the date hereof, and we do not assume any obligation to update these statements or to update the reasons why actual results could differ from those contained in such statements in light of new information or future events. We caution you, therefore, against relying on any of these forward-looking statements. They are neither statements of historical fact nor guarantees or assurances of future performance. While there is no assurance that any list of risks and uncertainties or risk factors is complete, important factors that could cause actual results to differ materially from those in the forward-looking statements include the following, without limitation: • Negative economic, business and political conditions, including as a result of the interest rate environment, supply chain disruptions, tariffs, inflationary pressures and labor shortages, that adversely affect the general economy, housing prices, the job market, consumer confidence and spending habits; • The general state of the economy and employment, as well as general business and economic conditions, and changes in the competitive environment; • Our capital and liquidity requirements under regulatory standards and our ability to generate capital and liquidity on favorable terms; • The effect of changes in our credit ratings on our cost of funding, access to capital markets, ability to market our securities, and overall liquidity position; • The effect of changes in the level of commercial and consumer deposits on our funding costs and net interest margin; • Our ability to execute on our strategic business initiatives and achieve our financial performance goals across our Consumer and Commercial businesses, including our Private Bank; • The effects of geopolitical instability, including the wars in Ukraine and the Middle East, on economic and market conditions, inflationary pressures and the interest rate environment, commodity price and foreign exchange rate volatility, and heightened cybersecurity risks; • Our ability to comply with heightened supervisory requirements and expectations as well as new or amended regulations; • Liabilities and business restrictions resulting from litigation and regulatory investigations; • The effect of changes in interest rates on our net interest income, net interest margin and our mortgage originations, mortgage servicing rights and mortgages held for sale; • Changes in interest rates and market liquidity, as well as the magnitude of such changes, which may reduce interest margins, impact funding sources and affect the ability to originate and distribute financial products in the primary and secondary markets; • Financial services reform and other current, pending or future legislation or regulation that could have a negative effect on our revenue and businesses; • Environmental risks, such as physical or transition risks associated with climate change, and social and governance risks, that could adversely affect our reputation, operations, business, and customers; • A failure in or breach of our compliance with laws, as well as operational or security systems or infrastructure, or those of our third-party vendors or other service providers, including as a result of cyber-attacks; and • Management's ability to identify and manage these and other risks. In addition to the above factors, we also caution that the actual amounts and timing of any future common stock dividends or share repurchases will be subject to various factors, including our capital position, financial performance, capital impacts of strategic initiatives, market conditions, and regulatory considerations, as well as any other factors that our Board of Directors deems relevant in making such a determination. Therefore, there can be no assurance that we will repurchase shares from or pay any dividends to holders of our common stock, or as to the amount of any such repurchases or dividends. More information about factors that could cause actual results to differ materially from those described in the forward-looking statements can be found in the "Risk Factors" section in Part I, Item 1A of our Annual Report on Form 10-K for the fiscal year ended December 31, 2024 as filed with the Securities and Exchange Commission. Non-GAAP Financial Measures: This document contains non-GAAP financial measures, with those denoted as Underlying for any given reporting period excluding certain items that may occur in that period which management does not consider indicative of the Company's on-going financial performance. We believe these non-GAAP financial measures provide useful information to investors because they are used by our management to evaluate our operating performance and make day-to-day operating decisions. In addition, we believe those measures denoted as Underlying in any given reporting period reflect our on-going financial performance in that period and, accordingly, are useful to consider in addition to our GAAP financial results. The Appendix presents reconciliations of our non-GAAP measures to the most directly comparable GAAP financial measures. We caution investors not to place undue reliance on such non-GAAP financial measures, but to consider them with the most directly comparable GAAP measures. Non-GAAP financial measures have limitations as analytical tools and should not be considered in isolation or as a substitute for our results reported under GAAP.

------

![](cfg2q25earningspresentat003.jpg)

3 2Q25 GAAP summary 2Q25 1Q25 2Q24 Q/Q Y/Y $s in millions $/bps % $/bps % Net interest income $1,437 $1,391 $1,410 $46 3 % $27 2 % Noninterest income 600 544 553 56 10 47 8 Total revenue 2,037 1,935 1,963 102 5 74 4 Noninterest Expense 1,319 1,314 1,301 5 — 18 1 Pre-provision profit 718 621 662 97 16 56 8 Provision for credit losses 164 153 182 11 7 (18) (10) Income before income tax expense 554 468 480 86 18 74 15 Income tax expense 118 95 88 23 24 30 34 Net income $436 $373 $392 $63 17 % $44 11 % Preferred dividends 34 33 35 1 3 (1) (3) Net income available to common stockholders $402 $340 $357 $62 18 % $45 13 % $s in billions Average interest-earning assets $196.3 $195.1 $198.5 $1.3 1 % $(2.1) (1) % Average deposits $174.1 $172.7 $173.7 $1.4 1 % $0.5 — % Performance metrics Net interest margin 2.94 % 2.89 % 2.86 % 5 bps 8 bps Net interest margin, FTE(1) 2.95 2.90 2.87 5 8 Loan-to-deposit ratio (period-end) 79.6 77.5 80.4 205 (87) ROTCE 11.0 9.6 10.6 141 44 Efficiency ratio 64.8 67.9 66.3 (315) (151) Noninterest income as a % of total revenue 29 % 28 % 28 % 127 bps 125 bps Full-time equivalent colleagues 17,677 17,315 17,510 362 2 167 1 Operating leverage 4.88 % 2.36 % Per common share Diluted earnings $0.92 $0.77 $0.78 $0.15 19 % $0.14 18 % Tangible book value $35.23 $33.97 $30.61 $1.26 4 % $4.62 15 % Average diluted shares outstanding (in millions) 436.5 442.2 456.6 (5.7) (1) % (20.0) (4) % See pages 31-32 for notes and important information on Non-GAAP Financial Measures, including "Underlying" results. "Underlying" results exclude the impact of notable items described on page 30.

------

![](cfg2q25earningspresentat004.jpg)

4 2Q25 Underlying financial summary(1) Q/Q Y/Y $s in millions 2Q25 $/bps % $/bps % Net interest income $1,437 $46 3 % $27 2 % Noninterest income 600 56 10 51 9 Total revenue 2,037 102 5 78 4 Noninterest expense 1,319 5 — 54 4 Pre-provision profit 718 97 16 24 3 Provision for credit losses 164 11 7 (18) (10) Net income available to common stockholders $402 $62 18 % $29 8 % Performance metrics Diluted EPS $0.92 $0.15 19 % $0.10 12 % Efficiency ratio 64.8 (315) bps 17 bps Noninterest income as a % of total revenue 29 % 127 bps 141 bps ROTCE 11.0 % 141 bps (4) bps Tangible book value per share $35.23 $1.26 4 % $4.62 15 % See pages 31-32 for notes and important information on Non-GAAP Financial Measures, including "Underlying" results. "Underlying" results exclude the impact of notable items described on page 30. 2Q25 1Q25 2Q24 Notable items impacts Pre-tax EPS Pre-tax EPS Pre-tax EPS ($s in millions except per share data) Integration-related $— $— $— $— $(3) $(0.01) TOP/FDIC-related/Other — — — — (29) (0.03) Total $— $— $— $— $(32) $(0.04)

------

![](cfg2q25earningspresentat005.jpg)

5 2Q25 financial performance detail (A) (B) (C) = (A) + (B) (D) (E) = (C) + (D) $s in millions Legacy Core(1) Private Bank Core Non-Core(2) Total CFG Net interest income $1,362 $80.3 $1,442 $(5) $1,437 Noninterest income 582 15.2 597 3 600 Total revenue 1,944 95.4 2,039 (2) 2,037 Noninterest Expense 1,244 60.4 1,304 15 1,319 Pre-provision profit 700 35.1 735 (17) 718 Provision for credit losses 162 — 162 2 164 Income before income tax expense 538 35.1 573 (19) 554 Income tax expense 114 8.9 123 (5) 118 Net income 424 26.2 450 (14) 436 Preferred dividends 34 — 34 — 34 Net income available to common stockholders $390 $26.2 $416 $(14) $402 Contribution to total CFG Diluted EPS $0.90 $0.06 $0.96 $(0.04) $0.92 $s in billions Interest-earning assets (spot) $184 $4.9 $189 $4.6 $193 Loans (spot) 131 4.9 136 3.6 139 Deposits (spot) 166 8.7 175 — 175 Risk-weighted assets (spot) 158 5.4 163 4.6 168 Performance metrics: Net interest margin, FTE(3) 2.93% --- 3.04% (0.43)% 2.95% Loan-to-deposit ratio (spot) 78.6 56.3 77.5 --- 79.6 CET1 capital ratio(4) 11.2 --- 10.9 --- 10.6 ROTCE 10.7 --- 11.5 --- 11.0 Efficiency ratio 64.0 63.2 63.9 --- 64.8 Noninterest income as a % of total revenue 29.9 15.9 29.2 --- 29.4 See pages 31-32 for notes.

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![](cfg2q25earningspresentat006.jpg)

6 ■ EPS of $0.92 reflects strong revenue performance, positive operating leverage of ~5% QoQ – Continued strong Private Bank progress, contributing $0.06 to EPS, up $0.02 QoQ ■ PPNR of $718 million, up 16% QoQ – NIM continues to steadily expand, up 5 bps to 2.95% ◦ Tracking well to 3.05-3.10% in 4Q25, 3.15-3.30% in 4Q26, and 3.25-3.50% in 2027 – Strong fee performance led by Card, Wealth and Mortgage; Capital Markets saw a modest increase driven by equity underwriting and loan syndications, partly offset by delayed M&A closings – Disciplined expense management with expenses broadly flat Solid 2Q25 results Maintaining strong capital and liquidity position Positive trends in credit and loans 2Q25 Overview(1) ■ Maintained a strong capital position while continuing to repurchase shares – CET1 ratio of 10.6%(2); 9.1% adjusted for AOCI opt-out removal ■ Strong liquidity profile; spot LDR of 79.6%; pro forma LCR well exceeds Category I Bank requirement of 100% ■ Average deposits up 1% QoQ with growth in lower-cost categories, partially offset by a reduction in higher-cost Treasury brokered deposits; continued deposit rate management lowered IB deposit costs by 2 bps 2Q25 QoQ NII $1,437 3.3 % Fees 600 10.3 % Expenses 1,319 0.4 % $s in millions ■ Loans up 1% QoQ on a spot basis with growth across the Private Bank, Commercial and Consumer ■ Net charge-offs of 48 bps, down slightly QoQ with favorable trends in NPAs, down 4% ■ Strong ACL coverage of 1.59%, down slightly QoQ; reflects improving loan mix PPNR drivers ■ Private Bank build out tracking well; adding wealth teams and opening new PBOs; confident the business will deliver a ~20 to 24% return on equity for FY2025 and maintain this over the medium term ■ Good visibility into driving NIM, NII higher over the medium-term ■ Strong execution of strategic initiatives (Private bank, NYC Metro, Private Capital, Payments, BSO) continues ■ TOP 10 progressing well towards ~$100 million pre-tax run-rate benefit by year-end 2025; commenced work on a 'Reimagining the Bank' initiative (multi-year transformational TOP program) Well positioned for the medium term See pages 31-32 for notes and important information on Non-GAAP Financial Measures, including "Underlying" results. "Underlying" results exclude the impact of notable items described on page 30.

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7 2.90% 0.03% 0.02% 0.02% 0.02% (0.02)% (0.02)% 2.95% 1Q25 Non-Core impact Terminated Swaps Funding pricing & mix Fixed-rate asset repricing Asset yields & mix, net of active swaps\* Day count/ Other 2Q25 $198.5B $197.2B $196.6B $195.1B $196.3B $1,410 $1,369 $1,412 $1,391 $1,437 2.87% 2.77% 2.87% 2.90% 2.95% 2Q24 3Q24 4Q24 1Q25 2Q25 ■ NII up 3.3%, reflects higher NIM and a 1% increase in average interest-earning assets – NIM of 2.95%, up 5 bps QoQ, given the time-based benefits of Non-Core runoff and lower terminated swap impact, lower deposit costs and favorable fixed-rate asset repricing ■ Interest-earning assets yield of 4.89%, up 5 bps, reflects fixed-rate asset repricing benefit of securities and mortgage, as well as retail mix improvement, and lower terminated swap impact on C&I yields ■ Interest-bearing deposit costs decreased 2 bps to 2.35%; cumulative interest-bearing deposit down-beta of ~54% ■ Total deposit costs down 2 bps to 1.85%; total cost of funds down 2 bps to 2.07% Net interest income NII and NIM Average interest-earning assets Net interest income NIM, FTE Linked Quarter NIM 1Q25 to 2Q25 $s in millions, except earning assets \*Includes ~(1) basis point impact related to active receive-fixed swaps Time-based NIM benefit

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8 $553 $532 $574 $544 $600 $549 $534 $564 $544 $600 Underlying Notable items 2Q24 3Q24 4Q24 1Q25 2Q25 ■ Noninterest income increased 10%, reflecting the following key business drivers: – Capital markets fees increased $5 million, primarily reflecting higher equity underwriting and loan syndication fees. M&A fees were down as several significant deals pushed into July given market uncertainty in the quarter – Card fees increased $7 million, given seasonally higher purchase volumes – Wealth fees increased $7 million, given higher transactional revenue and an increase in advisory fees, primarily driven by net inflows – Mortgage banking fees increased $14 million, driven by MSR valuation, net of hedging, as well as higher production fees – Other income increased $20 million, reflecting the benefit of various modest revenue items Noninterest income(1) $s in millions See pages 31-32 for notes and important information on Non-GAAP Financial Measures, including "Underlying" results. "Underlying" results exclude the impact of notable items described on page 30. Linked Quarter Year-Over-YearNoninterest income $s in millions 2Q25 1Q25 2Q24 $ Q/Q Y/Y Service charges and fees $111 $109 $106 $2 $5 Capital markets fees 105 100 134 5 (29) Card fees 90 83 88 7 2 Wealth fees 88 81 75 7 13 Mortgage banking fees 73 59 54 14 19 FX and derivative products 41 39 39 2 2 Letter of credit and loan fees 45 44 43 1 2 Securities gains, net 5 7 — (2) 5 Other income(2) 42 22 10 20 32 Noninterest income, underlying $600 $544 $549 $56 $51 Notable items (3) — — 4 — (4) Noninterest income, reported $600 $544 $553 $56 $47 \* Noninterest income details \*3Q24 has notable items of ($2MM) ■ Underlying noninterest income increased 9%, reflecting the following key business drivers: – Service charges and fees increased $5 million, primarily driven by higher overdraft and cash management fees – Capital markets fees decreased $29 million, reflecting lower M&A and bond underwriting fees partially offset by higher equity underwriting fees – Wealth fees increased $13 million, reflecting growth in AUM, primarily from the Private Bank – Mortgage banking fees increased $19 million, primarily driven by higher MSR valuation, net of hedging

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9 ■ Noninterest expense of $1.3 billion, up 0.4% – Salaries and benefits decreased $15 million, reflecting lower payroll taxes and compensation-related costs given seasonality – Outside services increased $14 million, primarily driven by higher technology and vendor-related costs – Occupancy decreased $4 million, driven by lower branch maintenance and utilities given first-quarter seasonality – Other operating expense increased $11 million, primarily reflecting higher seasonal marketing-related and travel costs Noninterest expense(1) See pages 31-32 for notes and important information on Non-GAAP Financial Measures, including "Underlying" results. "Underlying" results exclude the impact of notable items described on page 30. Efficiency ratio Linked Quarter Year-Over-Year 66.3% 66.2% 66.3% 67.9% 64.8% 64.6% 65.6% 65.4% 67.9% 64.8% Underlying Notable items 2Q24 3Q24 4Q24 1Q25 2Q25 2Q25 1Q25 2Q24 $$s in millions Q/Q Y/Y Salaries & employee benefits $681 $696 $637 $(15) $44 Equipment & software 193 194 186 (1) 7 Outside services 169 155 155 14 14 Occupancy 108 112 107 (4) 1 Other operating expense 168 157 180 11 (12) Noninterest expense, underlying $1,319 $1,314 $1,265 $5 $54 Notable items (1) — — 36 — (36) Noninterest expense, reported $1,319 $1,314 $1,301 $5 $18 Full-time equivalents (FTEs) 17,677 17,315 17,510 362 167 ■ Underlying noninterest expense of $1.3 billion, up 4% – Salaries and benefits increased $44 million, reflecting hiring related to the Private Bank and Private Wealth build out, as well as a broader increase in salaries and benefits – Equipment and software increased $7 million, given technology investments – Outside services increased $14 million, largely driven by investments across the enterprise – Other operating expense decreased $12 million, reflecting lower fraud losses, FDIC insurance expense and marketing-related costs Noninterest expense details

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10 $143.1 $142.0 $140.9 $139.7 $138.8 $9.4 $8.4 $7.4 $6.4 $3.9 $133.7 $133.6 $133.5 $133.3 $134.9 Non-Core Core Loan yield 2Q24 3Q24 4Q24 1Q25 2Q25 ~39% QoQ ■ Period-end loans up 1%; Core loans up 2% – Private Bank growth of $1.2 billion, driven primarily by commercial line utilization and mortgage – Commercial\* up ~$300 million, given an increase in C&I reflecting line utilization and net new business, partially offset by CRE paydowns and balance sheet optimization actions – Retail\* up $813 million, driven by home equity and mortgage – Non-Core loans down $662 million, reflecting continued runoff ■ Average loans down 1%; Core loans up 1% ■ Loan yield of 5.31%, up 5 bps QoQ, including the benefit of lower swap expense Loans and leases $s in billions Average loans and leases $141.8 $141.6 $139.2 $137.6 $139.3 $8.9 $7.9 $6.9 $4.2 $3.6 $132.9 $133.7 $132.3 $133.4 $135.7 Non-Core Core 2Q24 3Q24 4Q24 1Q25 2Q25 $s in billions Period-end loans and leases 5.60% 5.50% 5.35% 5.26% 5.31% Linked Quarter Year-Over-Year ~16% QoQ ~2% QoQ ~1% QoQ \*Excludes Non-Core portfolio and Private Bank. See page 39 for details. ■ Period-end loans down $2.5 billion, or 2%, reflecting Non-Core runoff of $5.3 billion; Core loans up $2.8 billion, or 2% – Private Bank growth of $3.5 billion – Retail\* up $2.0 billion, driven by home equity and mortgage – Commercial\* down $2.8 billion, reflecting paydowns in CRE and C&I balance sheet optimization actions, partially offset by higher line utilization ■ Average loans down $4.3 billion, or 3.0%; Core loans up 1%

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11 $173.7 $174.1 $174.3 $172.7 $174.1 2Q24 3Q24 4Q24 1Q25 2Q25 Deposit performance and cost of funds $s in billions Average deposits 2.24% 2.26% 2.02% 1.87% 1.85% 2.82% 2.86% 2.55% 2.37% 2.35% Total deposit costs Interest-bearing deposit costs CommercialConsumer Treasury/Other Year-Over-YearPeriod-end deposits Linked Quarter ■ Average deposits up 1%, driven by ~$1.5 billion growth in retail and Private Bank lower-cost categories, partially offset by the reduction in higher-cost Treasury brokered and retail time deposits ■ Period-end deposits down 1%, driven by the reduction of higher- cost Treasury brokered and retail time deposits, partially offset by growth in Commercial demand and checking with interest deposits ■ Interest-bearing deposit costs down 2 bps – Cumulative interest-bearing deposit down beta of ~54% ■ Total deposit costs down 2 bps ■ Total cost of funds down 2 bps $s in billions ■ Average deposits up slightly ■ Period-end deposits down ~$1.3 billion, or 1%, reflecting a ~$6 billion reduction in higher-cost Treasury brokered deposits and slightly lower Commercial balances, largely offset by ~$5 billion growth in the Private Bank and Consumer ■ Interest-bearing deposit costs down 47 bps ■ Total deposit costs down 39 bps ■ Total cost of funds down 41 bps $176.4 $175.2 $174.8 $177.6 $175.1 Consumer Commercial Treasury/Other 2Q24 3Q24 4Q24 1Q25 2Q25

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12 Branch deposits 49% Citizens Access 6% Private Bank/ Private Wealth 6% Business Banking 12% Commercial 25% Treasury/ Other 2% As of 6/30/25 Highly diversified and retail-oriented deposit base $175.1B Period-end deposits Peer Avg(1) Business mix Product mix Stable retail deposits (excludes Private Bank/Private Wealth) 42% 42% 43% 21% 21% 22% 21% 21% 21% NIB Low-cost deposits 2Q24 1Q25 2Q25 % NIB and low-cost deposits (2) 55% 68% 67% 1Q25 1Q25 2Q25 See pages 31-32 for notes. NIB 22% Checking With Interest 20% Savings 9% Citizens Access Savings 5% Money Market 32% Time 12%

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13 $182 $172 $162 $153 $164$184 $192 $189 $200 $167 0.52% 0.54% 0.53% 0.58% 0.48% Provision for credit losses Net charge-offs Net c/o ratio 2Q24 3Q24 4Q24 1Q25 2Q25 0.51% 0.52% 0.54% 0.53% 0.58% 0.48% 0.53% ■ Net charge-offs of $167 million, or 48 bps of average loans, down from $175 million, or 51 bps in 1Q25, after adjusting for the 7 bps impact of the Non-Core transaction (an agreement entered into in 1Q25 to sell ~$1.9 billion of Non-Core education loans) – Retail net charge-offs decreased by $44 million compared with 1Q25, which included the recognition of a $25 million charge-off associated with the Non-Core transaction – Commercial net charge-offs increased by $11 million, given an increase in C&I ■ Nonaccrual loans decreased 4% QoQ primarily driven by a decline in C&I, other retail and continued runoff of the Non- Core auto portfolio Credit quality overview $s in millions $s in millions Credit provision expense; net charge-offs (1) $1,527 $1,687 $1,664 $1,582 $1,524 $939 $1,071 $1,017 $983 $939 $588 $616 $647 $599 $585 151% 136% 136% 140% 145% Commercial Retail ACL to nonaccrual loans and leases 2Q24 3Q24 4Q24 1Q25 2Q25 $s in millions Nonaccrual loans $182 $172 $162 $153 $164$184 $192 $189 $200 $167 $154 $190 Provision for credit losses excl. transaction Provision for credit losses Net charge-offs excl. transaction Net charge-offs 2Q24 3Q24 4Q24 1Q25 2Q25 Net c/o ratioNet c/o ratio excl. transaction Net charge-offs associated with Non-Core transaction $175 Net charge-off ratio - excluding Non-Core transaction Commentary

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14 Allowance for credit losses Current assumptions Property valuations, peak-to-trough % decline ~70% Avg. loss severity (%) ~44% Default rate (%) ~27% General Office ACL coverage 11.8% Allowance for credit losses $322 million General Office key reserve assumptions ■ CRE General Office portfolio of $2.73 billion, down modestly QoQ reflecting paydowns and charge-offs ■ Strong ACL coverage of General Office informed by a severe recession scenario combined with a loan-by-loan analysis – ACL coverage for CRE General Office of 11.8% compares with 12.3% in 1Q25 – NCOs of~$490 million since March 31, 2023 plus the current ACL balance of $322 million equates to a potential loss rate of ~20%\*\* on this portfolio, stable with 1Q25 2Q25 1Q25 Balance ($B) $2.73 $2.86 ACL ($MM; % coverage) $322 11.8 % $351 12.3 % Cumulative NCOs\* ($MM) $490 $464 CRE General Office reserve \*Cumulative losses since 3/31/23 $2,306 $2,286 $2,259 $2,212 $2,209 1.25% 1.34% 1.39% 1.34% 1.39% 1.99% 1.88% 1.86% 1.86% 1.77% Retail Commercial Retail ACL Commercial ACL 2Q24 3Q24 4Q24 1Q25 2Q25 $s in millions Allowance for credit losses (1) \*\*Potential loss rate calculated relative to the $4.1B General Office portfolio balance at 3/31/23, the start of loss emergence. ■ The allowance for credit losses decreased slightly given improving loan mix, primarily reflecting the Non-Core portfolio reduction, reduced CRE and lower loss-content originations ■ The economic forecast supporting the allowance reflects a mild recession which contemplates a potential macroeconomic impact from tariffs – Real GDP decline of 0.5% start-to-trough unchanged versus the 1Q25 assumption – Peak unemployment of 5.2% assumed compared with 5.1% for 1Q25 – In addition, we apply a more severe scenario against areas of concern, such as General Office Commentary 1.63% 1.61% 1.62% 1.61% 1.59%Total ACL ratio See pages 31-32 for notes. (1)

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15 Strong capital position $s in billions (period-end) 2Q24 3Q24 4Q24 1Q25 2Q25 Basel III basis(1) Common equity tier 1 capital $18.1 $17.9 $17.9 $17.8 $17.8 Risk-weighted assets $168.4 $168.6 $165.7 $166.9 $168.0 Common equity tier 1 ratio 10.7 % 10.6 % 10.8 % 10.6 % 10.6 % Tier 1 capital ratio 12.0 % 11.9 % 12.1 % 11.9 % 11.9 % Total capital ratio 14.0 % 13.9 % 14.0 % 13.9 % 13.8 % Tangible common equity ratio 6.5 % 7.0 % 6.8 % 7.0 % 7.2 % TBV/share CET1 $% 1Q25 10.64% $33.97 Net Income 0.26 1.01 3.0% Common and preferred dividends (0.13) (0.51) (1.5) RWA increase (0.07) Treasury stock (0.12) (0.06) (0.2) Goodwill and intangibles — 0.03 0.1 AOCI — 0.70 2.1 Other 0.02 0.09 0.3 Total change (0.04) 1.26 3.7% 2Q25 10.60% $35.23 CET1 ratio remains strong(2) Highlights ■ 2Q25 CET1 ratio of 10.6% – 9.1% CET1 ratio adjusted for AOCI opt-out removal ■ TBV/share of $35.23, up 4% QoQ, reflects higher net income and AOCI impact from lower long-term rates – Tangible common equity ratio of 7.2%, up 24 bps QoQ ■ Total capital returned to shareholders was $385 million in 2Q25 – Paid $185 million in common dividends to shareholders – Repurchased $200 million of common stock at a weighted-average price of $39.00 ■ The Board of Directors increased the capacity of the Company's common share repurchase program to $1.5 billion on June 12, 2025 See pages 31-32 for notes.

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16 Transformed Consumer Bank Best-positioned Commercial Bank Building a premier Private Bank ...while reimagining how we operate, pursuing cost transformation & launching new digital initiatives ■ Strong deposit franchise grounded in primary relationships ■ Growing high-quality, deep relationship customers to drive strong returns ■ Significant potential to scale NY Metro and capture more affluent households ■ Focused on delivering an exceptional service model ■ High-quality growth in deposits, lending and wealth management ■ Geographically-aligned teams to leverage and deepen relationships ■ Best-positioned Commercial Bank ready to serve private capital and high- growth sectors of the U.S. economy ■ Full suite of Capital Markets & Advisory capabilities and Treasury Solutions ■ Integrated coverage model with focus on attractive high-growth markets and industry verticals ■ Partnering with Private Bank to deliver full suite of capabilities Continuing to invest across our three core businesses... Expanding into new markets Focused on driving attractive growth and enhancing profitability over the medium term Boston FloridaCalifornia NY Metro NY Metro

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17 $3.6 $5.2 $6.5 2Q24 1Q25 2Q25 $3.1 $7.6 $8.5 $4.0 $8.7 $8.7 Avg Spot 2Q24 1Q25 2Q25 $1.2 $3.3 $4.0 $1.4 $3.7 $4.9 Avg Spot 2Q24 1Q25 2Q25 Loans AUM Building a premier Private Bank ■ Added 3 advisor teams during 2Q25 in NYC metro, North New Jersey and Los Angeles ■ 8 advisor teams added since launch; all located in key markets aligned with PBO offices: New York, San Francisco, Boston, Boca Raton, Naples, Southern California ■ Loan growth driven by improvement in capital call line utilization, given increasing client activity, as well as growth in retail mortgage ■ Avg. portfolio yield ~7% ■ ~36% noninterest-bearing ■ ~2.2% total deposit cost ■ Continued client growth with a $966 million increase in average deposits; spot stable reflecting timing of inflows/ outflows ■ Tracking well towards targets for ~$12B deposits, ~$7B loans and ~$11B AUM by end of 2025 ■ Expect 5%+ earnings contribution to total CFG in 2025 ■ Confident the business will deliver a ~20 to 24% return on equity for FY2025 and maintain this over the medium term Boston, MA Mill Valley, CA San Francisco, CA Palm Beach, FL New York, NY Menlo Park, CA (2H25) Newport Beach, CA (2H25) San Diego, CA (2H25) Expanding our PBO footprint Financial profitability Deposits As of 6/30/25 $s in billions

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![](cfg2q25earningspresentat018.jpg)

18 2Q25 3Q25 outlook Net interest income $1,437MM ■ Up ~3-4% ■ NIM up ~5 bps ■ Earning assets up slightly Noninterest income $600MM ■ Up low single digits; rebound in capital markets will be partially offset by reductions in mortgage and other income Noninterest expense $1,319MM ■ Up ~1-1.5% Net charge-offs $167MM; 48 bps ■ Modestly lower CET1 ratio(1) 10.6% ■ Stable ■ ~$75MM in share repurchases Tax rate 21.4% ■ ~21% 3Q25 outlook vs. 2Q25 TBU ■ 2H25 environment shaping up to be constructive ■ Continue to be comfortable with FY2025 guide provided in January FY2025 Commentary See pages 31-32 for notes.

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19 ■ Committed to maintaining our strong capital and liquidity position, while further enhancing funding and performance with balance sheet optimization ■ Credit allowance remains strong and contemplates conservative macroeconomic assumptions – Credit metrics continue to trend favorably ■ Flexibility to support customers and invest while continuing to return capital to shareholders; repurchased $200 million of common stock in 2Q25 ■ Track record of strong execution ■ Commitment to operating and financial discipline; TOP 10 on target to deliver pre-tax run-rate benefit of ~$100 million by YE2025; commenced work on a 'Reimagining the Bank' initiative (multi-year transformational TOP program) ■ Excellence in our capabilities, highly competitive with mega-banks and peers Citizens is an attractive investment opportunity ■ Transformed Consumer Bank with further deposit growth and Wealth revenue potential; well positioned in NYC Metro to gain market share; performance tracking well ■ Best-positioned Commercial Bank ready to serve private capital and high-growth sectors of the U.S. economy ■ Building premier Wealth/Private Bank franchise - continued to make strong progress, contributing $0.06 to EPS in 2Q25 and targeting ~5%+ earnings accretion in 2025; since launch, added leading wealth teams in San Francisco, Boston, New York/New Jersey, Southern California, and Florida, accelerating AUM growth Maintaining a robust balance sheet Citizens has been transformed since the IPO given sound strategy, capable and experienced leadership and a strong customer-focused culture Well positioned to deliver ~16 to 18% ROTCE over the medium term given strategic initiatives and 2025 to 2027 NII tailwinds ■ Significant NII tailwind from Non-Core and swaps over the medium term; target NIM range ~3.25 to 3.50% ■ Private Bank results go from start-up to delivering an attractive ~20 to 24% return on equity in FY2025 and beyond ■ Current drag from Non-Core dissipates with time Continue to have a series of unique initiatives that will lead to relative medium-term outperformance

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Appendix ■ Medium-term NIM outlook ■ Interest Rate Risk Management ■ Non-Core assets and funding ■ AOCI accretion ■ Credit

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![](cfg2q25earningspresentat021.jpg)

21 2Q25 2025 2026 2027 Meaningful NIM improvement over the medium term Medium-term NIM target 3.25 to 3.50% Terminated swaps Non-Core Asset sensitivity net of swaps/other impacts Projected NIM range Fixed-rate asset repricing benefit Cumulative time-based NIM benefit vs. 2Q25 4Q26 4Q27 In basis points +17 +6 +24 +21 +9 +30 +15 to +20 -15 to +5 ~3.25 to 3.50% Chart not to scale 2.95% Net benefit 0 to +25 bps 3.25% 3.50% Fed funds at or above 4% favor top end of range or above Fed funds at or below 3% favor bottom of range or below Factors supporting 3.25 to 3.50% NIM ■ Swaps and Non-Core runoff ■ Stable to improving balance sheet mix ■ Fed funds terminal range of 3.0 to 4.0% ■ Cumulative IBD beta of low/mid 50's % +30 bps time-based NIM benefit 2Q25 to 4Q27 4Q25 +3 +3 +6 ~3.05 to 3.10% ~3.15 to 3.30% Assumes range for 10-year treasury rate of 4.25 to 4.75% through 2027 +8 to +11+4 0 to +5 -12 to 0 Cumulative NIM impact from starting point 2Q25

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22 $26.3 $26.3 $29.8 $31.8 $29.9 $26.5 $25.5 $27.1 $3.7 $7.3 $8.4 $11.5 $13.3 $18.1 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 3Q26 4Q26 $28.6 $27.2 $21.4 $13.3 $4.0 $2.8 $12.8 $18.5 $13.1 2025 2026 2027 2028 2029 Interest rate risk management W.A. receive-fixed rate 3.1% 3.1% 3.2% 3.3% 3.4% 3.5% 3.5% 3.6% 3.2% 3.5% 3.7% 3.6% 3.7% Executed post 6/30/23 - - 4.0% 4.0% 3.9% 3.8% 3.8% 3.7% 4.0% 3.8% 3.7% 3.7% 3.7% Executed pre 6/30/23 3.1% 3.1% 3.1% 3.1% 3.2% 3.2% 3.2% 3.3% 3.1% 3.2% 3.4% 2.6% - NII impact from terminated swaps ($MM): In-period impact $(127) $(119) $(108) $(103) $(88) $(62) $(52) $(28) $(457) $(230) $(40) $(3) $0 Sequential benefit $9 $8 $11 $5 $15 $26 $10 $24 $36 $227 $190 $37 $3 Receive-fixed cash flow swaps (average notional in $ billions) ■ Slightly asset sensitive; approximately +/- 1% impact to NII over the next 12 months with a gradual +/- 100 bps change in rates relative to the forward curve ■ Receive-fixed cash flow swaps represent the primary tool to manage overall asset sensitivity – Well hedged against lower rates through mid 2027 ■ Pay-fixed swaps against securities portfolio help protect capital by reducing AOCI volatility Receive-fixed swaps executed post 6/30/23 Receive-fixed swaps executed pre 6/30/23 (legacy) Maintaining strong liquidity while shortening duration Fixed/floating-rate mix 15% 19% 66% Securities $42B 37% 18% 45% Loans $139B Fixed Fixed with hedges Floating Floating with hedges Commentary 15% 15% 70% 37% 16% 47% As of 6/30/25 (1) See pages 31-32 for notes.

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23 $5.8 $4.6 $3.5 $2.6 $1.1 $0.3 $2.9 $2.4 $2.0 $1.6 $0.3$4.0 $3.4 $2.8 $2.4 $1.0 $0.2 $0.2 $0.2 $0.2 $0.2 $0.1 $0.1 $1.6 $1.0 $0.5 1Q25 2Q25 3Q25 4Q25 4Q26 4Q27 Non-Core portfolio - accelerating runoff with education loan sale Non-Core Dedicated structural funding Non-Core portfolio(1) Indirect auto Auto collateralized borrowings $s in billions Other Quarterly 2025 Education (HFS) ■ Non-Core loan portfolio has been reduced from $4.2 billion at 1Q25 to $3.6 billion at 2Q25 ■ Non-Core education loans of $1.0 billion remaining in held for sale as of June 30, 2025 – Announced in April 2025 an agreement to sell ~$1.9 billion of Non-Core education loans of which ~$200 million settled during 1Q25 and ~$600 million settled in 2Q25; remainder settles through 2H25 $4.2B ex. HFS $3.6B ex. HFS $3.0B ex. HFS See pages 31-32 for notes. Commentary

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24 AOCI accretion Protecting CET1 - AFS marks; duration decreasing with securities portfolio hedging; less sensitivity to rates. Illustrate how sensitivity to a 50 bp move has fallen from 12/31/22 to 9/30/23 to 12/31/23 ...As recent actions limit AOCI volatility to protect capital $(2.0) $(1.8) $(1.5) $(0.3) $(0.3) $(0.3) $(0.3) $(0.1) Swaps Pension Securities 6/30/2025 12/31/2025 12/31/2026 $(2.6) $(2.2) $(1.8) ~33% TCE CET1(2) $(2.3) $(2.0) $(1.8) Commentary ■ Expect benefit to capital via accretion to AOCI as unrealized losses "burn off" – ~$0.5 billion in unrealized losses related to securities and pension expected to "burn off" by YE2026, adding ~28 bps to the CET1 ratio adjusted for AOCI opt-out removal(4) ■ Portfolio management actions focused on reducing duration of securities to protect capital by limiting volatility in AOCI – Immediate 50 bp parallel increase in rates would negatively impact CET1 ratio adjusted for AOCI opt-out removal by ~23 bps; a 50 bp parallel decrease would positively impact by ~23 bps Burn-off by YE2026~21% (1) Select totals may not sum due to rounding (2) CET1 adjusted for AOCI opt-out removal accretion based on forward curve with Fed funds reaching a terminal rate of ~3.50% (3) Unrealized losses in swap portfolio includes both active and terminated swaps (4) CET1 ratio impact for illustrative purposes assumes the RWA balance at 6/30/25 Projected accretion to TCE and CET1 adjusted for AOCI opt-out removal(1) Accretes to CET1(2) (3) $s in billions $(2.0) $(1.8) $(1.5) $(0.3) $(0.3) $(0.3) $(0.3) $(0.1) Swaps Pension Securities 6/30/2025 12/31/2025 12/31/2026

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25 $71.6B Commercial credit portfolio Commercial portfolio risk ratings(3) $s in billions 57% 60% 61% 16% 16% 17% 19% 17% 16% 8% 7% 6% 2Q24 1Q25 2Q25 B- and lower B+ to B BB+ to BB- AAA+ to BBB- $71.6 Highlights $70.5 $ Balances % of CFG C&I Finance and Insurance $14.1 10 % Capital call facilities $7.2 Private Credit Finance 3.1 Other Finance and Insurance 3.8 Other Manufacturing 3.7 3 Technology 3.0 2 Accommodation and Food Services 2.3 2 Health, Pharma, Social Assistance 2.4 2 Professional, Scientific, and Technical Services 2.7 2 Wholesale Trade 2.4 2 Retail Trade 1.9 1 Other Services 2.2 1 Energy & Related 2.0 1 Rental and Leasing 1.2 1 Consumer Products Manufacturing 0.8 1 Administrative and Waste Management Services 1.3 1 Arts, Entertainment, and Recreation 1.6 1 Automotive 1.2 1 Other (1) 2.6 2 Total C&I $45.4 33 % CRE Multi-family $9.7 7 % Office 4.9 4 Credit tenant lease and life sciences(2) $2.2 Other general office 2.7 Industrial 2.8 2 Retail 2.8 2 Co-op 1.8 1 Data Center 0.9 1 Hospitality 0.4 — Other (1) 2.9 2 Total CRE $26.2 19 % Total Commercial loans & leases $71.6 51 % Total CFG $139.3 Diverse and granular portfolio ■ Disciplined capital allocation and risk appetite – Highly experienced leadership team – Focused client selection ■ C&I portfolio has focused growth on larger, mid-corporate customers, thereby improving overall asset quality – ~81% of C&I portfolio is investment grade equivalent ■ Leveraged loans ~1.5% of total CFG loans, granular hold positions with an average outstanding of ~$11 million ■ CRE portfolio is well diversified across asset type, geography, and borrowers with the emphasis on strong sponsor selection – CRE portfolio down $2.1 billion, or 7% year-over-year, driven primarily by paydowns $71.9 See pages 31-32 for notes. $s in billions ■ [Non-depository financial institution (NDFI) balance under regulatory definition of [$15.9] billion; BBB- ratings equivalent]

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26 Suburban Class C 3% CBD Class C 6% Suburban Class A 39% CBD Class A 12% Suburban Class B 28% CBD Class B 12% 50% 100% 100% 82% 48% 79% 100% 57% 62% 50% 18% 52% 100% 21% 43% 38% New York, NY Washington, DC Los Angeles, CA Dallas, TX Atlanta, GA Chicago, IL Baltimore, MD Phoenix, AZ Philadelphia, PA Boston, MA Suburban CBD NY 18.0% NJ 11.0% VA 8.8% CA 8.3% TX 7.7% MD 7.0% GA 4.2% OH 4.1% PA 3.9% IL 3.8% AZ 3.2% MA 3.1% MN 2.8% CO 2.4% WA 2.3% Other 9.4% Commercial Real Estate - General Office portfolio well diversified(1) $2.7B General Office by state Other NC CT VT MO FL DC MI UT SC RI NH DE 21% 23% 56% General Office $2.7B Credit Tenant $1.0B Life Sciences $1.1B Office by property type $2.7B General Office class & location Top 10 General Office MSA breakdown Outstanding \*Manhattan is ~$156 million $756 309 179 130 116 104 95 88 79 78 $s in millions, as of 6/30/25 See pages 31-32 for notes. As of 06/30/25 As of 6/30/25 As of 6/30/25 Commentary ■ General Office portfolio is well diversified geographically ■ 70% suburban, generally performing better than CBD properties ■ 91% Class A/B ■ Continue to work down the portfolio, reducing balance from $4.1 billion in 1Q23 to $2.7 billion in 2Q25, reflecting paydowns and charge-offs – Remaining exposure is well reserved with 11.8% coverage Top 10 General Office MSA breakdown \*

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27 45% 46% 46% 31% 30% 31% 15% 14% 14% 4% 4% 4% 5% 6% 5% 2Q24 1Q25 2Q25 $33.8 $17.7 $3.4 $3.2 $5.4 $4.2 $67.7B Retail credit portfolio 800+ 740-799 680-739 640-679 <640 $67.7 $s in billions $67.1 Home equity Retail portfolio(1) Residential mortgageAuto Education - in school Education - refinance Other retail ~96% Super-prime/prime\* ~81% Secured ■ Retail portfolio mix continues to improve with focus on high quality relationship lending ■ Core real estate secured increased to 76% of the portfolio as Non-Core was reduced significantly from 19% to 5% – Mortgage: FICO ~790; weighted-average LTV of ~51% – Home equity: FICO ~760; ~31% secured by 1st lien ◦ ~98% CLTV less than 80%; ~86% CLTV less than 70% ■ Core unsecured relatively stable at 19%; targeting super- prime/high-prime relationship borrowers – Education: FICO ~785 ◦ In-school: ~97% co-signed ◦ Refinance: ~40% have advanced degrees – Other retail: consists of card and Citizens Pay; target high quality borrowers; loss sharing in Citizens Pay High quality, diverse portfolio \*Super-prime/prime defined as FICO of 680 or above at origination Retail portfolio FICOs(2) $69.9 Homeowners Stat on % borrowers with deposit account? ~2/3 See pages 31-32 for notes. As of 6/30/25 44% 46% 46% 31% 31% 30% 16% 14% 14% 4% 4% 4% 5% 5% 6% 1Q24 4Q24 1Q25 62% 76% 19% 19%19% 5% 2Q23\*\* 2Q25 Non-Core (Auto & other indirect lending) Core unsecured (Education, Other retail) Core real estate secured (Mortgage, Home equity) of unsecured retail borrowers(3) ■ Core loans secured by real estate have increased to 74% of the retail portfolio ■ Core unsecured, including education and other retail, has reduced to 17% of the retail portfolio, driven primarily by the decline in education refinance activity given higher rates ■ Non-Core has declined to 9% of the retail portfolio, accelerated by the Non-Core transaction of retail portfolio > 680 Improving retail portfolio mix of retail portfolio \*\*2Q23 represents the start of the Non-Core portfolio designation $67.7B$73.0B $s in billions

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28 Allocation of allowance for credit losses by product type June 30, 2025 March 31, 2025 $s in millions Loans and Leases Allowance Coverage Loans and Leases Allowance Coverage Commercial and industrial(1) $45,412 $611 1.35 % $43,781 $629 1.44 % Commercial real estate 26,230 658 2.51 26,727 683 2.56 Total commercial 71,642 1,269 1.77 70,508 1,312 1.86 Residential mortgages 33,823 201 0.59 33,114 184 0.56 Home equity 17,711 153 0.87 16,853 132 0.78 Automobile 3,407 15 0.42 4,044 17 0.43 Education 8,550 269 3.15 8,779 271 3.09 Other retail 4,171 302 7.24 4,337 296 6.80 Total retail loans 67,662 940 1.39 67,127 900 1.34 Allowance for credit losses(2) $139,304 $2,209 1.59 % $137,635 $2,212 1.61 % See pages 31-32 for notes.

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29 Delinquency by product type June 30, 2025 (%) March 31, 2025 (%) Days Past Due and Accruing Days Past Due and Accruing Current 30-59 60-89 90+ Nonaccrual Current 30-59 60-89 90+ Nonaccrual Commercial and industrial 99.32 % 0.13 % 0.03 % 0.01 % 0.51 % 99.17 % 0.13 % 0.03 % 0.02 % 0.65 % Commercial real estate 96.77 0.29 0.02 0.23 2.69 96.86 0.49 0.02 0.01 2.62 Total commercial 98.39 0.19 0.02 0.09 1.31 98.29 0.27 0.03 0.02 1.39 Residential mortgages(1) 98.71 0.22 0.10 0.38 0.59 98.69 0.18 0.11 0.42 0.60 Home equity 97.81 0.45 0.15 — 1.59 97.61 0.56 0.16 — 1.67 Automobile 96.22 2.05 0.73 — 1.00 96.44 1.98 0.62 — 0.96 Education 99.18 0.39 0.19 0.02 0.22 99.09 0.44 0.21 0.03 0.23 Other retail 97.26 0.89 0.58 0.02 1.25 97.01 0.97 0.62 0.02 1.38 Total retail 98.32 0.44 0.19 0.19 0.86 98.23 0.47 0.20 0.21 0.89 Total 98.36 % 0.31 % 0.10 % 0.14 % 1.09 % 98.27 % 0.36 % 0.11 % 0.11 % 1.15 % See pages 31-32 for notes.

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30 Notable items(1) There are no notable items in second quarter 2025 or first quarter 2025, as our intention going forward is to limit these to those items of greatest significance. Second quarter 2024 results reflect notable items primarily related to integration costs associated with recent acquisitions, as well as TOP revenue and efficiency initiatives and a notable item for an industry-wide FDIC special assessment. These notable items were excluded from reported results to better reflect Underlying operating results. See pages 31-32 for notes and important information on Non-GAAP Financial Measures, including "Underlying" results. "Underlying" results exclude the impact of notable items described above. Notable items - Integration-related 2Q25 1Q25 2Q24 $s in millions, except per share data Pre-tax After-tax Pre-tax After-tax Pre-tax After-tax Salaries & benefits $— $— $— $— $(3) $(2) Equipment and software — — — — — — Outside services — — — — — — Occupancy — — — — — — Other expense — — — — — — Noninterest expense $— $— $— $— $(3) $(2) EPS Impact - Noninterest expense $— $— $(0.01) Total Integration Costs $— $— $— $— $(3) $(2) EPS Impact - Total Integration-related $— $— $(0.01) Other notable items - TOP & Other 2Q25 1Q25 2Q24 $s in millions, except per share data Pre-tax After-tax Pre-tax After-tax Pre-tax After-tax Tax notable items $— $— $— $— $— $7 Noninterest income $— $— $— $— $4 $3 Salaries & benefits $— $— $— $— $(5) $(4) Equipment and software — — — — (4) (3) Outside services — — — — (10) (7) Occupancy — — — — (6) (4) FDIC Assessment(1) — — — — (5) (4) Other expense — — — — (3) (2) Noninterest expense $— $— $— $— $(33) $(24) Total Other Notable Items $— $— $— $— $(29) $(14) EPS Impact - Other Notable Items $— $— $(0.03) Total Notable Items $— $— $— $— $(32) $(16) Total EPS Impact $— $— $(0.04) (1) The FDIC special assessment earnings per share impact is $(0.01) second quarter 2024.

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31 Notes on Non-GAAP Financial Measures See important information on our use of Non-GAAP Financial Measures at the beginning this presentation and reconciliations to GAAP financial measures at the end of this presentation. Non-GAAP measures are herein defined as Underlying results. Where there is a reference to Underlying results in a paragraph or table, all measures that follow these references are on the same basis, when applicable. Allowance coverage ratios for loans and leases includes the allowance for funded loans and leases in the numerator and funded loans and leases in the denominator. Allowance coverage ratios for credit losses includes the allowance for funded loans and leases and allowance for unfunded lending commitments in the numerator and funded loans and leases in the denominator. General Notes a. References to net interest margin are on a fully taxable equivalent ("FTE") basis. b. Throughout this presentation, references to consolidated and/or commercial loans and loan growth include leases. Loans held for sale are also referred to as LHFS. c. Select totals may not sum due to rounding. d. Based on Basel III standardized approach. Capital Ratios are preliminary. e. Throughout this presentation, reference to balance sheet items are on an average basis and loans exclude held for sale unless otherwise noted. Notes Notes on slide 3 - 2Q25 GAAP Summary 1) See general note a). Notes on slide 4 - 2Q25 Underlying financial summary 1) See note on non-GAAP financial measures. Notes on slide 5 - 2Q25 financial performance detail 1) Legacy Core consists of Commercial, Consumer excluding Private Bank and Non-Core, and Other. 2) At June 30, 2025, the Non-Core segment was fully funded with marginal high-cost funding comprised of FHLB, collateralized auto debt, and brokered certificates of deposit. 3) See general note a). 4) See general note d). Notes on slide 6 - 2Q25 Overview 1) See note on non-GAAP financial measures. 2) See general note d). Notes on slide 8 - Noninterest income 1) See note on non-GAAP financial measures. 2) Includes bank-owned life insurance income and other miscellaneous income for all periods presented. 3) See above note on non-GAAP financial measures. See Notable Items slide 30 for more detail. Notes on slide 9 - Noninterest expense 1) See above note on non-GAAP financial measures. See Notable Items slide 30 for more detail. Notes on slide 12 - Highly diversified and retail-oriented deposit base 1) Estimated based on available company disclosures. 2) Includes branch-based checking with interest and savings. Notes on slide 14 - Allowance for credit losses 1) Allowance for credit losses to nonaccrual loans and leases. Notes on slide 15 - Strong capital position 1) See general note d). 2) See general note c). Notes on slide 18 - 3Q25 outlook vs. 2Q25 1) See general note d). Notes on slide 22 - Interest rate risk management 1) Represents fair value balances. Notes on slide 23 - Non-Core portfolio - accelerating runoff with education loan sale 1) See general note c).

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32 Notes continued Notes on slide 25 - $71.6B Commercial credit portfolio 1) Includes deferred fees and costs. 2) Credit tenant lease includes loans to nationally recognized tenants with high credit ratings and life sciences includes loans to provide lab and office space for tenants involved in the study and development of scientific discoveries. 3) Reflects period end balances. Notes on slide 26 - Commercial Real Estate - General Office portfolio well diversified 1) See general note c). Notes on slide 27 - $67.7B Retail credit portfolio 1) See general note c). 2) Reflects period end balances. 3) Estimated based on 2024 data. Source: Citizens customer data, Equifax, Intercontinental Exchange. Notes on slide 28 - Allocation of allowance for credit losses by product type 1) Coverage ratio includes total commercial allowance for unfunded lending commitments and total commercial allowance for loan and lease losses in the numerator and total commercial loans and leases in the denominator. 2) Coverage ratio reflects total allowance for credit losses for the respective portfolio. Notes on slide 29 - Delinquency by product type 1) 90+ days past due and accruing includes $128 million, $137 million,and $168 million of loans fully or partially guaranteed by the FHA, VA, and USDA for June 30, 2025, March 31, 2025, and June 30, 2024, respectively. Notes on slide 30 - Notable items 1) See note on non-GAAP financial measures.

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33 Non-GAAP financial measures and reconciliations $s in millions, except share, per share and ratio data QUARTERLY TRENDS 2Q25 Change 2Q25 1Q25 2Q24 1Q25 2Q24 $% $% Noninterest income, Underlying: Noninterest income (GAAP) A $600 $544 $553 $56 10% $47 8% Less: Notable items — — 4 — — (4) (100) Noninterest income, Underlying (non-GAAP) B $600 $544 $549 $56 10% $51 9% Total revenue, Underlying: Total revenue (GAAP) C $2,037 $1,935 $1,963 $102 5% $74 4% Less: Notable items — — 4 — — (4) (100) Total revenue, Underlying (non-GAAP) D $2,037 $1,935 $1,959 $102 5% $78 4% Noninterest expense, Underlying: Noninterest expense (GAAP) E $1,319 $1,314 $1,301 $5 —% $18 1% Less: Notable items — — 36 — — (36) (100) Noninterest expense, Underlying (non-GAAP) F $1,319 $1,314 $1,265 $5 —% $54 4% Pre-provision profit: Total revenue (GAAP) C $2,037 $1,935 $1,963 $102 5% $74 4% Less: Noninterest expense (GAAP) E 1,319 1,314 1,301 5 — 18 1 Pre-provision profit (non-GAAP) $718 $621 $662 $97 16% $56 8% Pre-provision profit, Underlying: Total revenue, Underlying (non-GAAP) D $2,037 $1,935 $1,959 $102 5% $78 4% Less: Noninterest expense, Underlying (non-GAAP) F 1,319 1,314 1,265 5 — 54 4 Pre-provision profit, Underlying (non-GAAP) $718 $621 $694 $97 16% $24 3% Income before income tax expense, Underlying: Income before income tax expense (GAAP) G $554 $468 $480 $86 18% $74 15% Less: Income (expense) before income tax expense (benefit) related to notable items — — (32) — — 32 100 Income before income tax expense, Underlying (non-GAAP) H $554 $468 $512 $86 18% $42 8% Income tax expense, Underlying: Income tax expense (GAAP) I $118 $95 $88 $23 24% $30 34% Less: Income tax expense (benefit) related to notable items — — (16) — — 16 100 Income tax expense, Underlying (non-GAAP) J $118 $95 $104 $23 24% $14 13% Net income, Underlying: Net income (GAAP) K $436 $373 $392 $63 17% $44 11% Add: Notable items, net of income tax benefit — — 16 — — (16) (100) Net income, Underlying (non-GAAP) L $436 $373 $408 $63 17% $28 7% Net income available to common stockholders, Underlying: Net income available to common stockholders (GAAP) M $402 $340 $357 $62 18% $45 13% Add: Notable items, net of income tax benefit — — 16 — — (16) (100) Net income available to common stockholders, Underlying (non-GAAP) N $402 $340 $373 $62 18% $29 8%

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34 Non-GAAP financial measures and reconciliations QUARTERLY TRENDS 2Q25 Change 2Q25 1Q25 2Q24 1Q25 2Q24 $/bps % $/bps % Operating leverage: Total revenue (GAAP) C $2,037 $1,935 $1,963 $102 5.35% $74 3.78% Less: Noninterest expense (GAAP) E 1,319 1,314 1,301 5 0.47 18 1.42 Operating leverage 4.88% 2.36% Operating leverage, Underlying: Total revenue, Underlying (non-GAAP) D $2,037 $1,935 $1,959 $102 5.35% $78 4.02% Less: Noninterest expense, Underlying (non-GAAP) F 1,319 1,314 1,265 5 0.47 54 4.29 Operating leverage, Underlying (non-GAAP) 4.88% (0.27%) Efficiency ratio and efficiency ratio, Underlying: Efficiency ratio E/C 64.76 % 67.91% 66.27 % (315) bps (151) bps Efficiency ratio, Underlying (non-GAAP) F/D 64.76 67.91 64.59 (315) bps 17 bps Effective income tax rate and effective income tax rate, Underlying: Effective income tax rate I/G 21.37% 20.26% 18.49 % 111 bps 288 bps Effective income tax rate, Underlying (non-GAAP) J/H 21.37 20.26 20.33 111 bps 104 bps Return on average common equity and return on average common equity, Underlying: Average common equity (GAAP) O $22,494 $22,188 $21,427 $306 1% $1,067 5% Return on average common equity M/O 7.18 % 6.21% 6.70 % 97 bps 48 bps Return on average common equity, Underlying (non-GAAP) N/O 7.18 6.21 7.00 97 bps 18 bps Return on average tangible common equity and return on average tangible common equity, Underlying: Average common equity (GAAP) O $22,494 $22,188 $21,427 $306 1% $1,067 5% Less: Average goodwill (GAAP) 8,187 8,187 8,188 — — (1) — Less: Average other intangibles (GAAP) 134 142 144 (8) (6) (10) (7) Add: Average deferred tax liabilities related to goodwill (GAAP) 438 438 432 — — 6 1 Average tangible common equity (non-GAAP) P $14,611 $14,297 $13,527 $314 2% $1,084 8% Return on average tangible common equity (non-GAAP) M/P 11.05 % 9.64% 10.61 % 141 bps 44 bps Return on average tangible common equity, Underlying (non-GAAP) N/P 11.05 9.64 11.09 141 bps (4) bps Return on average total assets and return on average total assets, Underlying: Average total assets (GAAP) Q $217,661 $216,309 $219,222 $1,352 1% ($1,561) (1%) Return on average total assets K/Q 0.80 % 0.70% 0.72 % 10 bps 8 bps Return on average total assets, Underlying (non-GAAP) L/Q 0.80 0.70 0.75 10 bps 5 bps $s in millions, except share, per share and ratio data

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35 Non-GAAP financial measures and reconciliations QUARTERLY TRENDS 2Q25 Change 2Q25 1Q25 2Q24 1Q25 2Q24 $/bps % $/bps % Return on average total tangible assets and return on average total tangible assets, Underlying: Average total assets (GAAP) Q $217,661 $216,309 $219,222 $1,352 1% ($1,561) (1%) Less: Average goodwill (GAAP) 8,187 8,187 8,188 — — (1) — Less: Average other intangibles (GAAP) 134 142 144 (8) (6) (10) (7) Add: Average deferred tax liabilities related to goodwill and other intangible assets (GAAP) 438 438 432 — — 6 1 Average tangible assets (non-GAAP) R $209,778 $208,418 $211,322 $1,360 1% ($1,544) (1%) Return on average total tangible assets (non-GAAP) K/R 0.83 % 0.73% 0.75 % 10 bps 8 bps Return on average total tangible assets, Underlying (non-GAAP) L/R 0.83 0.73 0.78 10 bps 5 bps Book value per common share and tangible book value per common share: Common shares - at period-end (GAAP) S 432,768,811 437,668,127 452,961,853 (4,899,316) (1%) (20,193,042) (4%) Common stockholders' equity (GAAP) T $23,121 $22,753 $21,757 $368 2 $1,364 6 Less: Goodwill (GAAP) 8,187 8,187 8,187 — — — — Less: Other intangible assets (GAAP) 128 137 139 (9) (7) (11) (8) Add: Deferred tax liabilities related to goodwill and other intangible assets (GAAP) 440 438 435 2 — 5 1 Tangible common equity (non-GAAP) U $15,246 $14,867 $13,866 $379 3% $1,380 10% Book value per common share (GAAP) T/S $53.43 $51.99 $48.03 $1.44 3% $5.40 11% Tangible book value per common share (non-GAAP) U/S $35.23 $33.97 $30.61 $1.26 4% $4.62 15% Net income per average common share - basic and diluted and net income per average common share - basic and diluted, Underlying: Average common shares outstanding - basic (GAAP) V 433,640,210 438,320,757 454,142,489 (4,680,547) (1%) (20,502,279) (5%) Average common shares outstanding - diluted (GAAP) W 436,539,774 442,200,180 456,561,022 (5,660,406) (1) (20,021,248) (4) Net income per average common share - basic (GAAP) M/V $0.93 $0.78 $0.79 $0.15 19 $0.14 18 Net income per average common share - diluted (GAAP) M/W 0.92 0.77 0.78 0.15 19 0.14 18 Net income per average common share - basic, Underlying (non-GAAP) N/V 0.93 0.78 0.82 0.15 19 0.11 13 Net income per average common share - diluted, Underlying (non-GAAP) N/W 0.92 0.77 0.82 0.15 19 0.10 12 Dividend payout ratio and dividend payout ratio, Underlying: Cash dividends declared and paid per common share X $0.42 $0.42 $0.42 $— —% $— —% Dividend payout ratio X/(M/V) 45 % 54 % 53 % (869) bps (800) bps Dividend payout ratio, Underlying (non-GAAP) X/(N/V) 45 54 51 (869) bps (584) bps Common equity ratio and tangible common equity ratio: Total assets (GAAP) Y $218,310 $220,148 $219,938 ($1,838) (1) ($1,628) (1%) Less: Goodwill (GAAP) 8,187 8,187 8,187 — — — — Less: Other intangible assets (GAAP) 128 137 139 (9) (7) (11) (8) Add: Deferred tax liabilities related to goodwill and other intangible assets (GAAP) 440 438 435 2 — 5 1 Tangible assets (non-GAAP) Z $210,435 $212,262 $212,047 ($1,827) (1%) ($1,612) (1%) Common equity ratio (GAAP) T/Y 10.6 % 10.3 % 9.9 % 25 bps 70 bps Tangible common equity ratio (non-GAAP) U/Z 7.2 7.0 6.5 24 bps 70 bps $s in millions, except share, per share and ratio data

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36 Non-GAAP financial measures and reconciliations QUARTERLY TRENDS 2Q25 Change 2Q25 1Q25 2Q24 1Q25 2Q24 $/bps % $/bps % Net interest income and net interest margin on an FTE basis: Net interest income (annualized) (GAAP) AA $5,770 $5,637 $5,674 $133 2% $96 2% Average interest-earning assets (GAAP) BB 196,318 195,058 198,465 1,260 1 (2,147) (1) Net interest margin (GAAP) AA/BB 2.94 % 2.89% 2.86% 5 bps 8 bps Net interest income (GAAP) $1,437 $1,391 $1,410 $46 3% $27 2% FTE adjustment 4 4 5 — — (1) (20) Net interest income on an FTE basis (non-GAAP) 1,441 1,395 1,415 46 3 26 2 Net interest income on an FTE basis (annualized) (non-GAAP) CC 5,786 5,653 5,692 133 2 94 2 Net interest margin on an FTE basis (non-GAAP) CC/BB 2.95 % 2.90% 2.87% 5 bps 8 bps Card fees, Underlying: Card fees (GAAP) $90 $83 $92 $7 8% ($2) (2%) Less: Notable items — — 4 — — (4) (100) Card fees, Underlying (non-GAAP) $90 $83 $88 $7 8% $2 2% Salaries and employee benefits, Underlying: Salaries and employee benefits (GAAP) $681 $696 $645 ($15) (2%) $36 6% Less: Notable items — — 8 — — (8) (100) Salaries and employee benefits, Underlying (non-GAAP) $681 $696 $637 ($15) (2%) $44 7% Equipment and software, Underlying: Equipment and software (GAAP) $193 $194 $190 ($1) (1%) $3 2% Less: Notable items — — 4 — — (4) (100) Equipment and software, Underlying (non-GAAP) $193 $194 $186 ($1) (1%) $7 4% Outside services, Underlying: Outside services (GAAP) $169 $155 $165 $14 9% $4 2% Less: Notable items — — 10 — — (10) (100) Outside services, Underlying (non-GAAP) $169 $155 $155 $14 9% $14 9% Occupancy, Underlying: Occupancy (GAAP) $108 $112 $113 ($4) (4%) ($5) (4%) Less: Notable items — — 6 — — (6) (100) Occupancy, Underlying (non-GAAP) $108 $112 $107 ($4) (4%) $1 1% Other operating expense, Underlying: Other operating expense (GAAP) $168 $157 $188 $11 7% ($20) (11%) Less: Notable items — — 8 — — (8) (100) Other operating expense, Underlying (non-GAAP) $168 $157 $180 $11 7% ($12) (7%) $s in millions, except share, per share and ratio data

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37 Non-GAAP financial measures and reconciliations $s in millions, except share, per share and ratio data QUARTERLY TRENDS 4Q24 3Q24 Noninterest income, Underlying: Noninterest income (GAAP) A $574 $532 Less: Notable items 10 (2) Noninterest income, Underlying (non-GAAP) B $564 $534 Total revenue, Underlying: Total revenue (GAAP) C $1,986 $1,901 Less: Notable items 10 (2) Total revenue, Underlying (non-GAAP) D $1,976 $1,903 Noninterest expense, Underlying: Noninterest expense (GAAP) E $1,316 $1,259 Less: Notable items 24 11 Noninterest expense, Underlying (non-GAAP) F $1,292 $1,248 Efficiency ratio and efficiency ratio, Underlying: Efficiency ratio E/C 66.3 % 66.2% Efficiency ratio, Underlying (non-GAAP) F/D 65.4 65.6

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38 Non-GAAP financial measures and reconciliations - CET1 adjusted for AOCI opt-out removal QUARTERLY TRENDS 2Q25 1Q25 CET1 Ratio adjusted for AOCI opt-out removal CET1 capital $17,812 $17,751 Less: AFS securities - AOCI 1,282 1,337 HTM securities - AOCI(1) 719 737 DTA for AFS/HTM securities 31 29 Pension 297 298 DTA for Pension 3 3 CET 1 capital adjusted for AOCI opt-out removal A $15,480 $15,347 Risk-weighted assets 168,017 166,908 Less: HTM securities - AOCI 125 128 AFS securities - AOCI 208 224 DTA for AFS/HTM securities (1,628) (1,683) Pension 297 298 DTA for Pension (263) (265) Risk-weighted assets adjusted for AOCI opt-out removal B $169,278 $168,206 CET1 Ratio adjusted for AOCI opt-out removal A/B 9.1 % 9.1 % $s in millions, except share, per share and ratio data (1) "HTM securities - AOCI" refers to unrealized losses recognized on securities before transfer to HTM

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![](cfg2q25earningspresentat039.jpg)

39 Non-GAAP financial measures and reconciliations QUARTERLY TRENDS 2Q25 Change 2Q25 1Q25 2Q24 1Q25 2Q24 $/bps % $/bps % Total Retail loans - at period-end $67,662 $67,127 $69,908 $535 1% ($2,246) (3%) Less: Non-core retail loans - at period-end 3,573 4,235 8,870 (662) (16) (5,297) (60) Less: Private bank retail loans - at period-end 1,496 1,112 494 384 35 1,002 203 Total Retail loans excluding Private Bank and non-core - at period-end $62,593 $61,780 $60,544 $813 1% $2,049 3% Total Commercial loans - at period-end $71,642 $70,508 $71,934 $1,134 2% ($292) —% Less: Private bank commercial loans - at period-end $3,395 $2,563 $895 $832 32 $2,500 279 Total Commercial loans excluding Private Bank - at period-end $68,247 $67,945 $71,039 $302 —% ($2,792) (4%) $s in millions, except share, per share and ratio data

------

![](cfg2q25earningspresentat040.jpg)

40 Non-GAAP financial measures and reconciliations excluding Private Bank & Non-Core $s in millions, except share, per share and ratio data 2Q25 Net income available to common stockholders, Underlying: Net income available to common stockholders (GAAP) $402 Add: Notable items, net of income tax benefit — Net income available to common stockholders, Underlying (non-GAAP) A $402 Private Bank Net income available to common stockholders, (GAAP) 26 Less: Private Bank Notable Items — Private Bank Net income available to common stockholders, Underlying (non-GAAP) B $26 Non-Core Net income available to common stockholders, (GAAP) C ($14) Net income available to common stockholders excluding Private Bank & Non-Core, Underlying (non-GAAP) D=(A-B-C) $390 Return on average tangible common equity and return on average tangible common equity, Underlying: Average common equity (GAAP) $22,494 Less: Average goodwill (GAAP) 8,187 Less: Average other intangibles (GAAP) 134 Add: Average deferred tax liabilities related to goodwill (GAAP) 438 Average tangible common equity (non-GAAP) E $14,611 Return on average tangible common equity excluding Private Bank & Non-Core, Underlying (non-GAAP) D/E 10.7 %

------

![](cfg2q25earningspresentat041.jpg)

------

## Exhibit 99.3

![newcfglogomediuma01a21.jpg](newcfglogomediuma01a21.jpg)

**Financial Supplement**

**Second Quarter 2025** 

------

---

| | |
|:---|:---|
| **Table of Contents** | **Page** |
| <u>[Consolidated Financial Highlights](#id3d259fe826a4c14b87e124753fd28f1_10)</u> | <u>[3](#id3d259fe826a4c14b87e124753fd28f1_10)</u> |
| <u>[Consolidated Statements of Operations (unaudited)](#id3d259fe826a4c14b87e124753fd28f1_13)</u> | <u>[5](#id3d259fe826a4c14b87e124753fd28f1_13)</u> |
| <u>[Consolidated Balance Sheets (unaudited)](#id3d259fe826a4c14b87e124753fd28f1_16)</u> | <u>[6](#id3d259fe826a4c14b87e124753fd28f1_16)</u> |
| <u>[Loans and Deposits](#id3d259fe826a4c14b87e124753fd28f1_19)</u> | <u>[7](#id3d259fe826a4c14b87e124753fd28f1_19)</u> |
| <u>[Average Balance Sheets, Annualized Yields and Rates](#id3d259fe826a4c14b87e124753fd28f1_25)</u> | <u>[8](#id3d259fe826a4c14b87e124753fd28f1_25)</u> |
| <u>[Mortgage Banking Fees](#id3d259fe826a4c14b87e124753fd28f1_31)</u> | <u>[10](#id3d259fe826a4c14b87e124753fd28f1_31)</u> |
| <u>[Segment Financial Highlights](#id3d259fe826a4c14b87e124753fd28f1_34)</u> | <u>[11](#id3d259fe826a4c14b87e124753fd28f1_34)</u> |
| <u>Credit-Related Information:</u> |  |
| &nbsp;&nbsp;&nbsp;&nbsp;<u>[Nonaccrual loans and leases](#id3d259fe826a4c14b87e124753fd28f1_40)</u> | <u>[15](#id3d259fe826a4c14b87e124753fd28f1_40)</u> |
| &nbsp;&nbsp;&nbsp;&nbsp;<u>[Loans and Leases 90 Days or More Past Due and Accruing](#id3d259fe826a4c14b87e124753fd28f1_43)</u> | <u>[16](#id3d259fe826a4c14b87e124753fd28f1_43)</u> |
| &nbsp;&nbsp;&nbsp;&nbsp;<u>[Charge-offs, Recoveries, and Related Ratios](#id3d259fe826a4c14b87e124753fd28f1_46)</u> | <u>[17](#id3d259fe826a4c14b87e124753fd28f1_46)</u> |
| &nbsp;&nbsp;&nbsp;&nbsp;<u>[Summary of Changes in the Components of the Allowance for Credit Losses](#id3d259fe826a4c14b87e124753fd28f1_49)</u> | <u>[19](#id3d259fe826a4c14b87e124753fd28f1_49)</u> |
| <u>[Capital and Ratios](#id3d259fe826a4c14b87e124753fd28f1_52)</u> | <u>[20](#id3d259fe826a4c14b87e124753fd28f1_52)</u> |
| <u>[Non-GAAP Financial Measures and Reconciliations](#id3d259fe826a4c14b87e124753fd28f1_55)</u> | <u>[21](#id3d259fe826a4c14b87e124753fd28f1_55)</u> |
| The information in this Financial Supplement is preliminary and based on company data available at the time of the earnings presentation. It speaks only as of the particular date or dates included in the accompanying pages. The Company does not undertake an obligation to, and disclaims any duty to, update any of the information provided. Any forward-looking statements in this Financial Supplement are subject to the forward-looking statements language contained in the Company's reports filed with the SEC pursuant to the Securities Exchange Act of 1934, which can be found on the SEC's website (<u>www.sec.gov</u>) or on the Company's website (<u>www.citizensbank.com</u>). The Company's future financial performance is subject to the risks and uncertainties described in its SEC filings. | The information in this Financial Supplement is preliminary and based on company data available at the time of the earnings presentation. It speaks only as of the particular date or dates included in the accompanying pages. The Company does not undertake an obligation to, and disclaims any duty to, update any of the information provided. Any forward-looking statements in this Financial Supplement are subject to the forward-looking statements language contained in the Company's reports filed with the SEC pursuant to the Securities Exchange Act of 1934, which can be found on the SEC's website (<u>www.sec.gov</u>) or on the Company's website (<u>www.citizensbank.com</u>). The Company's future financial performance is subject to the risks and uncertainties described in its SEC filings. |

---

------

**CONSOLIDATED FINANCIAL HIGHLIGHTS** 

**(dollars in millions, except per share data)**

---

| | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **FOR THE SIX MONTHS ENDED JUNE 30,** | **FOR THE SIX MONTHS ENDED JUNE 30,** | **FOR THE SIX MONTHS ENDED JUNE 30,** | **FOR THE SIX MONTHS ENDED JUNE 30,** | **FOR THE SIX MONTHS ENDED JUNE 30,** |
| | | | | | | **2Q25 Change** | **2Q25 Change** | **2Q25 Change** | **2Q25 Change** | **2Q25 Change** | **2Q25 Change** | | | **2025 Change** | **2025 Change** | **2025 Change** |
| |<br>**2Q25** |<br>**1Q25** |<br>**4Q24** |<br>**3Q24** |<br>**2Q24** | **1Q25** | **1Q25** | **1Q25** | **2Q24** | **2Q24** | **2Q24** | **2025** | **2024** | **2024** | **2024** | **2024** |
| | | | | | | **$/bps** | **$/bps** | **%** | **$/bps** | **$/bps** | **%** | | | **$/bps** | **$/bps** | **%** |
| **<u>SELECTED OPERATING DATA</u>** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Total revenue | $2037 | $1935 | $1986 | $1901 | $1963 | $102 |  | 5% | $74 |  | 4% | $3972 | $3922 | $50 |  | 1% |
| Noninterest expense | 1319 | 1314 | 1316 | 1259 | 1301 | 5 |  |  | 18 |  | 1 | 2633 | 2659 | (26) |  | (1) |
| Pre-provision profit<sup>1</sup> | 718 | 621 | 670 | 642 | 662 | 97 |  | 16 | 56 |  | 8 | 1339 | 1263 | 76 |  | 6 |
| Provision (benefit) for credit losses | 164 | 153 | 162 | 172 | 182 | 11 |  | 7 | (18) |  | (10) | 317 | 353 | (36) |  | (10) |
| &nbsp;&nbsp;&nbsp;**NET INCOME** | 436 | 373 | 401 | 382 | 392 | 63 |  | 17 | 44 |  | 11 | 809 | 726 | 83 |  | 11 |
| Net income, Underlying<sup>1</sup> | 436 | 373 | 412 | 392 | 408 | 63 |  | 17 | 28 |  | 7 | 809 | 803 | 6 |  | 1 |
| Net income available to common stockholders | 402 | 340 | 367 | 344 | 357 | 62 |  | 18 | 45 |  | 13 | 742 | 661 | 81 |  | 12 |
| Net income available to common stockholders, Underlying<sup>1</sup> | 402 | 340 | 378 | 354 | 373 | 62 |  | 18 | 29 |  | 8 | 742 | 738 | 4 |  | 1 |
| **<u>PER COMMON SHARE DATA</u>** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Basic earnings | $0.93 | $0.78 | $0.83 | $0.77 | $0.79 | $0.15 |  | 19% | $0.14 |  | 18% | $1.70 | $1.44 | $0.26 |  | 18% |
| &nbsp;&nbsp;&nbsp;&nbsp;Diluted earnings | 0.92 | 0.77 | 0.83 | 0.77 | 0.78 | 0.15 |  | 19 | 0.14 |  | 18 | 1.69 | 1.44 | 0.25 |  | 17 |
| &nbsp;&nbsp;&nbsp;Basic earnings, Underlying<sup>1</sup> | 0.93 | 0.78 | 0.86 | 0.79 | 0.82 | 0.15 |  | 19 | 0.11 |  | 13 | 1.70 | 1.61 | 0.09 |  | 6 |
| &nbsp;&nbsp;&nbsp;Diluted earnings, Underlying<sup>1</sup> | 0.92 | 0.77 | 0.85 | 0.79 | 0.82 | 0.15 |  | 19 | 0.10 |  | 12 | 1.69 | 1.60 | 0.09 |  | 6 |
| Cash dividends declared and paid per common share | 0.42 | 0.42 | 0.42 | 0.42 | 0.42 |  |  |  |  |  |  | 0.84 | 0.84 |  |  |  |
| Book value per common share | 53.43 | 51.99 | 50.26 | 51.25 | 48.03 | 1.44 |  | 3 | 5.40 |  | 11 | 53.43 | 48.03 | 5.40 |  | 11 |
| Tangible book value per common share<sup>1</sup> | 35.23 | 33.97 | 32.34 | 33.54 | 30.61 | 1.26 |  | 4 | 4.62 |  | 15 | 35.23 | 30.61 | 4.62 |  | 15 |
| Dividend payout ratio | 45% | 54% | 51% | 55% | 53% | (869) | bps |  | (800) | bps |  | 49% | 58% | (892) | bps |  |
| Dividend payout ratio, Underlying<sup>1</sup> | 45 | 54 | 49 | 53 | 51 | (869) | bps |  | (584) | bps |  | 49 | 52 | (300) | bps |  |
| **<u>COMMON SHARES OUTSTANDING</u>** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Average: Basic | 433640210 | 438320757 | 440802738 | 446561996 | 454142489 | (4680547) |  | (1%) | (20502279) |  | (5%) | 435967554 | 457750585 | (21783031) |  | (5%) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Diluted | 436539774 | 442200180 | 444836786 | 449913467 | 456561022 | (5660406) |  | (1) | (20021248) |  | (4) | 439342703 | 460009546 | (20666843) |  | (4) |
| Common shares at period-end | 432768811 | 437668127 | 440543381 | 445216549 | 452961853 | (4899316) |  | (1) | (20193042) |  | (4) | 432768811 | 452961853 | (20193042) |  | (4) |

---

<sup>1</sup> These are non-GAAP financial measures. For further information on these measures, refer to "Non-GAAP Financial Measures and Reconciliations."

------

**CONSOLIDATED FINANCIAL HIGHLIGHTS, CONTINUED**

**(dollars in millions, except per share data)**

---

| | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **FOR THE SIX MONTHS ENDED JUNE 30,** | **FOR THE SIX MONTHS ENDED JUNE 30,** | **FOR THE SIX MONTHS ENDED JUNE 30,** | **FOR THE SIX MONTHS ENDED JUNE 30,** | **FOR THE SIX MONTHS ENDED JUNE 30,** |
| | | | | | | **2Q25 Change** | **2Q25 Change** | **2Q25 Change** | **2Q25 Change** | **2Q25 Change** | **2Q25 Change** | | | **2025 Change** | **2025 Change** | **2025 Change** |
| |<br>**2Q25** |<br>**1Q25** |<br>**4Q24** |<br>**3Q24** |<br>**2Q24** | **1Q25** | **1Q25** | **1Q25** | **2Q24** | **2Q24** | **2Q24** | **2025** | **2024** | **2024** | **2024** | **2024** |
| | | | | | | **$/bps** | **$/bps** | **%** | **$/bps** | **$/bps** | **%** | | | **$/bps** | **$/bps** | **%** |
| **<u>FINANCIAL RATIOS</u>** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Net interest margin | 2.94% | 2.89% | 2.86% | 2.76% | 2.86% | 5 bps | 5 bps |  | 8 bps | 8 bps |  | 2.91% | 2.88% | 3 | bps |  |
| Net interest margin, FTE<sup>1,2</sup> | 2.95 | 2.90 | 2.87 | 2.77 | 2.87 | 5 | 5 |  | 8 | 8 |  | 2.92 | 2.89 | 3 |  |  |
| Return on average common equity | 7.18 | 6.21 | 6.64 | 6.12 | 6.70 | 97 |  |  | 48 |  |  | 6.70 | 6.16 | 54 |  |  |
| Return on average common equity, Underlying<sup>2</sup> | 7.18 | 6.21 | 6.84 | 6.29 | 7.00 | 97 |  |  | 18 |  |  | 6.70 | 6.88 | (18) |  |  |
| Return on average tangible common equity<sup>2</sup> | 11.05 | 9.64 | 10.36 | 9.45 | 10.61 | 141 |  |  | 44 |  |  | 10.35 | 9.73 | 62 |  |  |
| Return on average tangible common equity, Underlying<sup>2</sup> | 11.05 | 9.64 | 10.66 | 9.71 | 11.09 | 141 |  |  | (4) |  |  | 10.35 | 10.87 | (52) |  |  |
| Return on average total assets | 0.80 | 0.70 | 0.73 | 0.70 | 0.72 | 10 |  |  | 8 |  |  | 0.75 | 0.66 | 9 |  |  |
| Return on average total assets, Underlying<sup>2</sup> | 0.80 | 0.70 | 0.75 | 0.71 | 0.75 | 10 |  |  | 5 |  |  | 0.75 | 0.73 | 2 |  |  |
| Return on average total tangible assets<sup>2</sup> | 0.83 | 0.73 | 0.76 | 0.72 | 0.75 | 10 |  |  | 8 |  |  | 0.78 | 0.69 | 9 |  |  |
| Return on average total tangible assets, Underlying<sup>2</sup> | 0.83 | 0.73 | 0.78 | 0.74 | 0.78 | 10 |  |  | 5 |  |  | 0.78 | 0.76 | 2 |  |  |
| Effective income tax rate | 21.37 | 20.26 | 21.04 | 18.56 | 18.49 | 111 |  |  | 288 |  |  | 20.86 | 20.28 | 58 |  |  |
| Effective income tax rate, Underlying<sup>2</sup> | 21.37 | 20.26 | 21.17 | 18.75 | 20.33 | 111 |  |  | 104 |  |  | 20.86 | 21.59 | (73) |  |  |
| Efficiency ratio | 64.76 | 67.91 | 66.27 | 66.23 | 66.27 | (315) |  |  | (151) |  |  | 66.29 | 67.79 | (150) |  |  |
| Efficiency ratio, Underlying<sup>2</sup> | 64.76 | 67.91 | 65.36 | 65.61 | 64.59 | (315) |  |  | 17 |  |  | 66.29 | 64.82 | 147 |  |  |
| Noninterest income as a % of total revenue | 29.41 | 28.14 | 28.90 | 27.95 | 28.16 | 127 |  |  | 125 |  |  | 28.79 | 27.29 | 150 |  |  |
| Noninterest income as a % of total revenue, Underlying<sup>2</sup> | 29.41 | 28.14 | 28.54 | 28.05 | 28.00 | 127 |  |  | 141 |  |  | 28.79 | 27.16 | 163 |  |  |
| **<u>CAPITAL RATIOS - PERIOD-END (PRELIMINARY)</u>**  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| CET1 capital ratio | 10.6% | 10.6% | 10.8% | 10.6% | 10.7% |  |  |  |  |  |  |  |  |  |  |  |
| Tier 1 capital ratio | 11.9 | 11.9 | 12.1 | 11.9 | 12.0 |  |  |  |  |  |  |  |  |  |  |  |
| Total capital ratio | 13.8 | 13.9 | 14.0 | 13.9 | 14.0 |  |  |  |  |  |  |  |  |  |  |  |
| Tier 1 leverage ratio | 9.4 | 9.4 | 9.4 | 9.4 | 9.4 |  |  |  |  |  |  |  |  |  |  |  |
| Common equity ratio | 10.6 | 10.3 | 10.2 | 10.4 | 9.9 |  |  |  |  |  |  |  |  |  |  |  |
| Tangible common equity ratio<sup>2</sup> | 7.2 | 7.0 | 6.8 | 7.0 | 6.5 |  |  |  |  |  |  |  |  |  |  |  |
| **<u>SELECTED BALANCE SHEET DATA</u>** | **<u>SELECTED BALANCE SHEET DATA</u>** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Loan-to-deposit ratio (period-end balances) | 79.56% | 77.51% | 79.65% | 80.85% | 80.43% | 205 | bps |  | (87) | bps |  | 79.56% | 80.43% | (87) | bps |  |
| Loan-to-deposit ratio (average balances) | 79.72 | 80.89 | 80.88 | 81.59 | 82.38 | (117) | bps |  | (266) | bps |  | 80.30 | 82.31 | (201) | bps |  |
| Full-time equivalent colleagues (period-end) | 17677 | 17315 | 17287 | 17329 | 17510 | 362 |  | 2 | 167 |  | 1 | 17677 | 17510 | 167 |  | 1 |

---

<sup>1</sup>Net interest margin is presented on a fully taxable-equivalent ("FTE") basis using the federal statutory tax rate of 21% to adjust for the tax-exempt status of income from certain assets held by the Company.

<sup>2</sup>These are non-GAAP financial measures. For further information on these measures, refer to "Non-GAAP Financial Measures and Reconciliations."

------

**CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited)** 

**(dollars in millions)**

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **FOR THE SIX MONTHS ENDED JUNE 30,** | **FOR THE SIX MONTHS ENDED JUNE 30,** | **FOR THE SIX MONTHS ENDED JUNE 30,** |
| | | | | | | **2Q25 Change** | **2Q25 Change** | | | **2025 Change** |
| |<br>**2Q25** |<br>**1Q25** |<br>**4Q24** |<br>**3Q24** |<br>**2Q24** | **1Q25** | **2Q24** | **2025** | **2024** | **2024** |
| | | | | | | $**%** | $**%** | | | $**%** |
| **<u>INTEREST INCOME</u>** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest and fees on loans and leases | $1851 | $1829 | $1910 | $1976 | $2011 | 1% | (8%) | $3680 | $4062 | (9%) |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest and fees on loans held for sale | 36 | 16 | 21 | 19 | 17 | 125 | 112 | 52 | 37 | 41 |
| &nbsp;&nbsp;&nbsp;&nbsp;Investment securities | 428 | 418 | 419 | 423 | 417 | 2 | 3 | 846 | 816 | 4 |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest-bearing deposits in banks | 92 | 89 | 112 | 121 | 130 | 3 | (29) | 181 | 270 | (33) |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total interest income** | **2407** | **2352** | **2462** | **2539** | **2575** | 2 | (7) | **4759** | **5185** | (8) |
| **<u>INTEREST EXPENSE</u>** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Deposits | 802 | 795 | 883 | 990 | 965 | 1 | (17) | 1597 | 1952 | (18) |
| &nbsp;&nbsp;&nbsp;&nbsp;Short-term borrowed funds | 9 | 8 | 1 | 3 | 4 | 13 | 125 | 17 | 11 | 55 |
| &nbsp;&nbsp;&nbsp;&nbsp;Long-term borrowed funds | 159 | 158 | 166 | 177 | 196 | 1 | (19) | 317 | 370 | (14) |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total interest expense** | **970** | **961** | **1050** | **1170** | **1165** | 1 | (17) | **1931** | **2333** | (17) |
| &nbsp;&nbsp;&nbsp;&nbsp;**Net interest income** | **1437** | **1391** | **1412** | **1369** | **1410** | 3 | 2 | **2828** | **2852** | (1) |
| **<u>NONINTEREST INCOME</u>** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Service charges and fees | 111 | 109 | 109 | 109 | 106 | 2 | 5 | 220 | 202 | 9 |
| &nbsp;&nbsp;&nbsp;&nbsp;Capital markets fees | 105 | 100 | 121 | 94 | 134 | 5 | (22) | 205 | 252 | (19) |
| &nbsp;&nbsp;&nbsp;&nbsp;Card fees | 90 | 83 | 97 | 93 | 92 | 8 | (2) | 173 | 178 | (3) |
| &nbsp;&nbsp;&nbsp;Wealth fees | 88 | 81 | 75 | 76 | 75 | 9 | 17 | 169 | 143 | 18 |
| &nbsp;&nbsp;&nbsp;&nbsp;Mortgage banking fees | 73 | 59 | 60 | 46 | 54 | 24 | 35 | 132 | 103 | 28 |
| &nbsp;&nbsp;&nbsp;&nbsp;Foreign exchange and derivative products | 41 | 39 | 35 | 36 | 39 | 5 | 5 | 80 | 75 | 7 |
| &nbsp;&nbsp;&nbsp;&nbsp;Letter of credit and loan fees | 45 | 44 | 45 | 45 | 43 | 2 | 5 | 89 | 85 | 5 |
| &nbsp;&nbsp;&nbsp;&nbsp;Securities gains, net | 5 | 7 | 4 | 9 |  | (29) | 100 | 12 | 5 | 140 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other income | 42 | 22 | 28 | 24 | 10 | 91 | NM | 64 | 27 | 137 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total noninterest income** | **600** | **544** | **574** | **532** | **553** | 10 | 8 | **1144** | **1070** | 7 |
| &nbsp;&nbsp;&nbsp;**TOTAL REVENUE** | **2037** | **1935** | **1986** | **1901** | **1963** | 5 | 4 | **3972** | **3922** | 1 |
| Provision (benefit) for credit losses | 164 | 153 | 162 | 172 | 182 | 7 | (10) | 317 | 353 | (10) |
| **<u>NONINTEREST EXPENSE</u>** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Salaries and employee benefits | 681 | 696 | 674 | 647 | 645 | (2) | 6 | 1377 | 1336 | 3 |
| &nbsp;&nbsp;&nbsp;&nbsp;Equipment and software | 193 | 194 | 193 | 194 | 190 | (1) | 2 | 387 | 382 | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;Outside services | 169 | 155 | 170 | 146 | 165 | 9 | 2 | 324 | 323 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Occupancy | 108 | 112 | 112 | 108 | 113 | (4) | (4) | 220 | 227 | (3) |
| &nbsp;&nbsp;&nbsp;&nbsp;Other operating expense | 168 | 157 | 167 | 164 | 188 | 7 | (11) | 325 | 391 | (17) |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total noninterest expense** | **1319** | **1314** | **1316** | **1259** | **1301** |  | 1 | **2633** | **2659** | (1) |
| &nbsp;&nbsp;&nbsp;&nbsp;**Income before income tax expense** | **554** | **468** | **508** | **470** | **480** | 18 | 15 | **1022** | **910** | 12 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Income tax expense | 118 | 95 | 107 | 88 | 88 | 24 | 34 | 213 | 184 | 16 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Net income** | **$436** | **$373** | **$401** | **$382** | **$392** | 17% | 11% | **$809** | **$726** | 11% |
| &nbsp;&nbsp;&nbsp;&nbsp;**Net income, Underlying**<sup>1</sup> | **$436** | **$373** | **$412** | **$392** | **$408** | 17% | 7% | **$809** | **$803** | 1% |
| &nbsp;&nbsp;&nbsp;&nbsp;**Net income available to common stockholders** | **$402** | **$340** | **$367** | **$344** | **$357** | 18% | 13% | **$742** | **$661** | 12% |
| &nbsp;&nbsp;&nbsp;&nbsp;**Net income available to common stockholders, Underlying**<sup>1</sup> | **$402** | **$340** | **$378** | **$354** | **$373** | 18% | 8% | **$742** | **$738** | 1% |

---

<sup>1</sup> These are non-GAAP financial measures. For further information on these measures, refer to "Non-GAAP Financial Measures and Reconciliations."

------

**CONSOLIDATED BALANCE SHEETS (unaudited)**

**(dollars in millions, except par value)**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **PERIOD-END BALANCES** | **AS OF** | **AS OF** | **AS OF** | **AS OF** | **AS OF** | **JUNE 30, 2025 CHANGE** | **JUNE 30, 2025 CHANGE** |
| | **June 30, 2025** | **Mar 31, 2025** | **Dec 31, 2024** | **Sept 30, 2024** | **June 30, 2024** | **March 31, 2025** | **June 30, 2024** |
| | | | | | | $**%** | $**%** |
| **<u>ASSETS</u>** | | | | | | | |
| &nbsp;&nbsp;&nbsp;&nbsp;Cash and due from banks | $1107 | $1082 | $1409 | $979 | $1191 | 2% | (7%) |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest-bearing cash and due from banks | 7441 | 10459 | 9192 | 9936 | 10580 | (29) | (30) |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest-bearing deposits in banks | 680 | 685 | 635 | 648 | 559 | (1) | 22 |
| &nbsp;&nbsp;&nbsp;&nbsp;Debt securities available for sale, at fair value | 34658 | 34208 | 32765 | 32835 | 31938 | 1 | 9 |
| &nbsp;&nbsp;&nbsp;&nbsp;Debt securities held to maturity | 8293 | 8469 | 8599 | 8738 | 8895 | (2) | (7) |
| &nbsp;&nbsp;&nbsp;Loans held for sale | 2093 | 2820 | 858 | 663 | 683 | (26) | 206 |
| &nbsp;&nbsp;&nbsp;&nbsp;Loans and leases | 139304 | 137635 | 139203 | 141632 | 141842 | 1 | (2) |
| &nbsp;&nbsp;&nbsp;&nbsp;Less: Allowance for loan and lease losses | (2008) | (2014) | (2061) | (2079) | (2125) |  | (6) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net loans and leases | 137296 | 135621 | 137142 | 139553 | 139717 | 1 | (2) |
| &nbsp;&nbsp;&nbsp;&nbsp;Derivative assets | 832 | 760 | 408 | 586 | 367 | 9 | 127 |
| &nbsp;&nbsp;&nbsp;&nbsp;Premises and equipment | 855 | 855 | 875 | 862 | 863 |  | (1) |
| &nbsp;&nbsp;&nbsp;&nbsp;Bank-owned life insurance | 3408 | 3386 | 3364 | 3346 | 3325 | 1 | 2 |
| &nbsp;&nbsp;&nbsp;&nbsp;Goodwill | 8187 | 8187 | 8187 | 8187 | 8187 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Other intangible assets | 129 | 137 | 146 | 137 | 139 | (6) | (7) |
| &nbsp;&nbsp;&nbsp;&nbsp;Other assets | 13331 | 13479 | 13941 | 13236 | 13494 | (1) | (1) |
| &nbsp;&nbsp;&nbsp;&nbsp;**TOTAL ASSETS** | **$218310** | **$220148** | **$217521** | **$219706** | **$219938** | (1%) | (1%) |
| **<u>LIABILITIES AND STOCKHOLDERS' EQUITY</u>** |  |  |  |  |  |  |  |
| **<u>LIABILITIES</u>** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Deposits: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Noninterest-bearing | $38001 | $37556 | $36920 | $35978 | $36927 | 1% | 3% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest-bearing | 137085 | 140020 | 137856 | 139210 | 139425 | (2) | (2) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total deposits | 175086 | 177576 | 174776 | 175188 | 176352 | (1) | (1) |
| &nbsp;&nbsp;&nbsp;&nbsp;Short-term borrowed funds | 249 | 47 |  | 15 | 2 | NM | NM |
| &nbsp;&nbsp;&nbsp;&nbsp;Long-term borrowed funds: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FHLB advances | 1542 | 42 | 53 | 553 | 553 | NM | 179 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Senior debt | 6821 | 7568 | 7168 | 7766 | 6512 | (10) | 5 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subordinated debt and other debt | 4163 | 4657 | 5180 | 5625 | 6017 | (11) | (31) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total long-term borrowed funds | 12526 | 12267 | 12401 | 13944 | 13082 | 2 | (4) |
| &nbsp;&nbsp;&nbsp;&nbsp;Derivative liabilities | 766 | 883 | 1220 | 1012 | 1547 | (13) | (50) |
| &nbsp;&nbsp;&nbsp;&nbsp;Other liabilities | 4449 | 4509 | 4870 | 4615 | 5086 | (1) | (13) |
| &nbsp;&nbsp;&nbsp;&nbsp;**TOTAL LIABILITIES** | **193076** | **195282** | **193267** | **194774** | **196069** | (1) | (2) |
| **<u>STOCKHOLDERS' EQUITY</u>** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Preferred stock: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$25.00 par value, 100,000,000 shares authorized for each of the periods presented | 2113 | 2113 | 2113 | 2112 | 2112 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Common stock: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;$0.01 par value, 1,000,000,000 shares authorized for each of the periods presented | 7 | 7 | 7 | 6 | 6 |  | 17 |
| &nbsp;&nbsp;&nbsp;&nbsp;Additional paid-in capital | 22420 | 22370 | 22364 | 22327 | 22299 |  | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;Retained earnings | 10783 | 10566 | 10412 | 10233 | 10079 | 2 | 7 |
| &nbsp;&nbsp;&nbsp;&nbsp;Treasury stock, at cost | (7450) | (7249) | (7047) | (6820) | (6492) | (3) | (15) |
| &nbsp;&nbsp;&nbsp;&nbsp;Accumulated other comprehensive income (loss) | (2639) | (2941) | (3595) | (2926) | (4135) | 10 | 36 |
| &nbsp;&nbsp;&nbsp;&nbsp;**TOTAL STOCKHOLDERS' EQUITY** | **25234** | **24866** | **24254** | **24932** | **23869** | 1 | 6 |
| &nbsp;&nbsp;&nbsp;&nbsp;**TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY** | **$218310** | **$220148** | **$217521** | **$219706** | **$219938** | (1%) | (1%) |
| &nbsp;&nbsp;&nbsp;Memo: Total tangible common equity<sup>1</sup> | $15246 | $14867 | $14246 | $14931 | $13866 | 3% | 10% |

---

<sup>1</sup> Represents a non-GAAP financial measure. For further information on this measure, refer to "Non-GAAP Financial Measures and Reconciliations."

------

**LOANS AND DEPOSITS**

**(dollars in millions)**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;**PERIOD-END BALANCES** | **AS OF** | **AS OF** | **AS OF** | **AS OF** | **AS OF** | **JUNE 30, 2025 CHANGE** | **JUNE 30, 2025 CHANGE** |
| | **June 30, 2025** | **Mar 31, 2025** | **Dec 31, 2024** | **Sept 30, 2024** | **June 30, 2024** | **Mar 31, 2025** | **June 30, 2024** |
| | | | | | | $**%** | $**%** |
| &nbsp;&nbsp;&nbsp;**<u>LOANS AND LEASES</u>** | | | | | | | |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial and industrial | $45412 | $43781 | $42551 | $43825 | $43623 | 4% | 4% |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial real estate | 26230 | 26727 | 27225 | 27983 | 28311 | (2) | (7) |
| &nbsp;&nbsp;&nbsp;&nbsp;Total commercial | 71642 | 70508 | 69776 | 71808 | 71934 | 2 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Residential mortgages | 33823 | 33114 | 32726 | 32379 | 31890 | 2 | 6 |
| &nbsp;&nbsp;&nbsp;&nbsp;Home equity | 17711 | 16853 | 16495 | 15992 | 15534 | 5 | 14 |
| &nbsp;&nbsp;&nbsp;&nbsp;Automobile | 3407 | 4044 | 4744 | 5540 | 6383 | (16) | (47) |
| &nbsp;&nbsp;&nbsp;&nbsp;Education | 8550 | 8779 | 10812 | 11118 | 11265 | (3) | (24) |
| &nbsp;&nbsp;&nbsp;&nbsp;Other retail | 4171 | 4337 | 4650 | 4795 | 4836 | (4) | (14) |
| &nbsp;&nbsp;&nbsp;&nbsp;Total retail | 67662 | 67127 | 69427 | 69824 | 69908 | 1 | (3) |
| &nbsp;&nbsp;&nbsp;**Total loans and leases** | $139304 | $137635 | $139203 | $141632 | $141842 | 1% | (2%) |
| &nbsp;&nbsp;&nbsp;&nbsp;Loans held for sale | 2093 | 2820 | 858 | 663 | 683 | (26) | 206 |
| &nbsp;&nbsp;&nbsp;**Loans and leases and loans held for sale** | $141397 | $140455 | $140061 | $142295 | $142525 | 1% | (1%) |
| &nbsp;&nbsp;&nbsp;**<u>DEPOSITS</u>** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Noninterest-bearing demand | $38001 | $37556 | $36920 | $35978 | $36927 | 1% | 3% |
| &nbsp;&nbsp;&nbsp;&nbsp;Checking with interest | 34918 | 34456 | 33246 | 33680 | 34421 | 1 | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;Savings | 25400 | 25765 | 25976 | 26489 | 27240 | (1) | (7) |
| &nbsp;&nbsp;&nbsp;&nbsp;Money market | 55638 | 55996 | 55321 | 54654 | 52599 | (1) | 6 |
| &nbsp;&nbsp;&nbsp;&nbsp;Time | 21129 | 23803 | 23313 | 24387 | 25165 | (11) | (16) |
| &nbsp;&nbsp;&nbsp;**Total deposits** | $175086 | $177576 | $174776 | $175188 | $176352 | (1%) | (1%) |

---

------

---

| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **AVERAGE BALANCE SHEETS, ANNUALIZED YIELDS AND RATES** | **AVERAGE BALANCE SHEETS, ANNUALIZED YIELDS AND RATES** | **AVERAGE BALANCE SHEETS, ANNUALIZED YIELDS AND RATES** | **AVERAGE BALANCE SHEETS, ANNUALIZED YIELDS AND RATES** | **AVERAGE BALANCE SHEETS, ANNUALIZED YIELDS AND RATES** | **AVERAGE BALANCE SHEETS, ANNUALIZED YIELDS AND RATES** | **AVERAGE BALANCE SHEETS, ANNUALIZED YIELDS AND RATES** | **AVERAGE BALANCE SHEETS, ANNUALIZED YIELDS AND RATES** | **AVERAGE BALANCE SHEETS, ANNUALIZED YIELDS AND RATES** | **AVERAGE BALANCE SHEETS, ANNUALIZED YIELDS AND RATES** | **AVERAGE BALANCE SHEETS, ANNUALIZED YIELDS AND RATES** | **AVERAGE BALANCE SHEETS, ANNUALIZED YIELDS AND RATES** | **AVERAGE BALANCE SHEETS, ANNUALIZED YIELDS AND RATES** | **AVERAGE BALANCE SHEETS, ANNUALIZED YIELDS AND RATES** | **AVERAGE BALANCE SHEETS, ANNUALIZED YIELDS AND RATES** | |
| **(dollars in millions)** | **(dollars in millions)** | **(dollars in millions)** | **(dollars in millions)** | **(dollars in millions)** | **(dollars in millions)** | **(dollars in millions)** | **(dollars in millions)** | **(dollars in millions)** | **(dollars in millions)** | **(dollars in millions)** | **(dollars in millions)** | **(dollars in millions)** | **(dollars in millions)** | **(dollars in millions)** | |
| | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **2Q25 Change** | **2Q25 Change** | **2Q25 Change** | **2Q25 Change** | **2Q25 Change** | **2Q25 Change** |
| | **2Q25** | **2Q25** | **2Q25** | **1Q25** | **1Q25** | **1Q25** | **2Q24** | **2Q24** | **2Q24** | **1Q25** | **1Q25** | **1Q25** | **2Q24** | **2Q24** | **2Q24** |
|  | **Average Balance** | **Interest** | **Rate** | **Average Balance** | **Interest** | **Rate** | **Average Balance** | **Interest** | **Rate** | **Average Balance** | **Interest** | **Rate** | **Average Balance** | **Interest** | Rate |
| **<u>INTEREST-EARNING ASSETS</u>** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest-bearing cash and due from banks and deposits in banks | $8217 | $92 | 4.40% | $8092 | $89 | 4.42% | $9650 | $130 | 5.35% | $125 | $3 | (2) bps | ($1433) | ($38) | (95) bps |
| &nbsp;&nbsp;&nbsp;&nbsp;Taxable investment securities | 46537 | 428 | 3.69 | 46068 | 418 | 3.63 | 44691 | 417 | 3.73 | 469 | 10 | 6 | 1846 | 11 | (4) |
| &nbsp;&nbsp;&nbsp;&nbsp;Non-taxable investment securities | 1 |  | 2.60 | 1 |  | 2.60 | 1 |  | 2.60 |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total investment securities | 46538 | 428 | 3.69 | 46069 | 418 | 3.63 | 44692 | 417 | 3.73 | 469 | 10 | 6 | 1846 | 11 | (4) |
| &nbsp;&nbsp;&nbsp;Commercial and industrial | 44936 | 549 | 4.84 | 43599 | 515 | 4.72 | 44381 | 604 | 5.38 | 1337 | 34 | 12 | 555 | (55) | (54) |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial real estate | 26487 | 384 | 5.73 | 27013 | 387 | 5.74 | 28574 | 456 | 6.32 | (526) | (3) | (1) | (2087) | (72) | (59) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total commercial | 71423 | 933 | 5.17 | 70612 | 902 | 5.11 | 72955 | 1060 | 5.75 | 811 | 31 | 6 | (1532) | (127) | (58) |
| &nbsp;&nbsp;&nbsp;&nbsp;Residential mortgages | 33420 | 327 | 3.92 | 32872 | 318 | 3.86 | 31633 | 290 | 3.67 | 548 | 9 | 6 | 1787 | 37 | 25 |
| &nbsp;&nbsp;&nbsp;&nbsp;Home equity | 17324 | 308 | 7.14 | 16647 | 293 | 7.13 | 15343 | 305 | 7.99 | 677 | 15 | 1 | 1981 | 3 | (85) |
| &nbsp;&nbsp;&nbsp;&nbsp;Automobile | 3705 | 41 | 4.41 | 4394 | 47 | 4.38 | 6807 | 72 | 4.28 | (689) | (6) | 3 | (3102) | (31) | 13 |
| &nbsp;&nbsp;&nbsp;&nbsp;Education | 8660 | 128 | 5.94 | 10690 | 148 | 5.61 | 11447 | 154 | 5.40 | (2030) | (20) | 33 | (2787) | (26) | 54 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other retail | 4277 | 114 | 10.66 | 4495 | 121 | 10.91 | 4882 | 130 | 10.71 | (218) | (7) | (25) | (605) | (16) | (5) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total retail | 67386 | 918 | 5.46 | 69098 | 927 | 5.41 | 70112 | 951 | 5.45 | (1712) | (9) | 5 | (2726) | (33) | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total loans and leases | 138809 | 1851 | 5.31 | 139710 | 1829 | 5.26 | 143067 | 2011 | 5.60 | (901) | 22 | 5 | (4258) | (160) | (29) |
| &nbsp;&nbsp;&nbsp;Loans held for sale | 2754 | 36 | 5.29 | 1187 | 16 | 5.34 | 1056 | 17 | 6.66 | 1567 | 20 | (5) | 1698 | 19 | (137) |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total interest-earning assets** | 196318 | 2407 | 4.89 | 195058 | 2352 | 4.84 | 198465 | 2575 | 5.17 | 1260 | 55 | 5 | (2147) | (168) | (28) |
| &nbsp;&nbsp;&nbsp;Noninterest-earning assets | 21343 |  |  | 21251 |  |  | 20757 |  |  | 92 |  |  | 586 |  |  |
| &nbsp;&nbsp;&nbsp;**TOTAL ASSETS** | $217661 |  |  | $216309 |  |  | $219222 |  |  | $1352 |  |  | ($1561) |  |  |
| **<u>INTEREST-BEARING LIABILITIES</u>** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Checking with interest | $33847 | $123 | 1.46% | $32693 | $110 | 1.36% | $33659 | $128 | 1.54% | $1154 | $13 | 10 | $188 | ($5) | (8) |
| &nbsp;&nbsp;&nbsp;Savings | 25536 | 85 | 1.34 | 25760 | 89 | 1.39 | 27560 | 120 | 1.75 | (224) | (4) | (5) | (2024) | (35) | (41) |
| &nbsp;&nbsp;&nbsp;&nbsp;Money market | 54716 | 376 | 2.75 | 54432 | 357 | 2.66 | 51570 | 431 | 3.36 | 284 | 19 | 9 | 3146 | (55) | (61) |
| &nbsp;&nbsp;&nbsp;Time | 22679 | 218 | 3.85 | 23277 | 239 | 4.17 | 24676 | 286 | 4.66 | (598) | (21) | (32) | (1997) | (68) | (81) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total interest-bearing deposits | 136778 | 802 | 2.35 | 136162 | 795 | 2.37 | 137465 | 965 | 2.82 | 616 | 7 | (2) | (687) | (163) | (47) |
| &nbsp;&nbsp;&nbsp;&nbsp;Short-term borrowed funds | 925 | 9 | 3.96 | 675 | 8 | 4.53 | 325 | 4 | 5.62 | 250 | 1 | (57) | 600 | 5 | (166) |
| &nbsp;&nbsp;&nbsp;&nbsp;FHLB advances | 1063 | 12 | 4.64 | 595 | 7 | 4.57 | 2375 | 34 | 5.55 | 468 | 5 | 7 | (1312) | (22) | (91) |
| &nbsp;&nbsp;&nbsp;&nbsp;Senior debt | 7042 | 90 | 5.07 | 7133 | 86 | 4.85 | 6684 | 80 | 4.81 | (91) | 4 | 22 | 358 | 10 | 26 |
| &nbsp;&nbsp;&nbsp;&nbsp;Subordinated debt and other debt | 4394 | 57 | 5.18 | 4929 | 65 | 5.30 | 6033 | 82 | 5.43 | (535) | (8) | (12) | (1639) | (25) | (25) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total long-term borrowed funds | 12499 | 159 | 5.07 | 12657 | 158 | 5.01 | 15092 | 196 | 5.18 | (158) | 1 | 6 | (2593) | (37) | (11) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total borrowed funds | 13424 | 168 | 5.00 | 13332 | 166 | 4.99 | 15417 | 200 | 5.18 | 92 | 2 | 1 | (1993) | (32) | (18) |
| &nbsp;&nbsp;&nbsp;**Total interest-bearing liabilities** | 150202 | 970 | 2.59 | 149494 | 961 | 2.60 | 152882 | 1165 | 3.06 | 708 | 9 | (1) | (2680) | (195) | (47) |
| &nbsp;&nbsp;&nbsp;Noninterest-bearing demand deposits | 37350 |  |  | 36543 |  |  | 36205 |  |  | 807 |  |  | 1145 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Other noninterest-bearing liabilities | 5503 |  |  | 5971 |  |  | 6652 |  |  | (468) |  |  | (1149) |  |  |
| &nbsp;&nbsp;&nbsp;**TOTAL LIABILITIES** | 193055 |  |  | 192008 |  |  | 195739 |  |  | 1047 |  |  | (2684) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**STOCKHOLDERS' EQUITY** | 24606 |  |  | 24301 |  |  | 23483 |  |  | 305 |  |  | 1123 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY** | $217661 |  |  | $216309 |  |  | $219222 |  |  | $1352 |  |  | ($1561) |  |  |
| **INTEREST RATE SPREAD** |  |  | 2.30% |  |  | 2.24% |  |  | 2.11% |  |  | 6 |  |  | 19 |
| **NET INTEREST MARGIN AND NET INTEREST INCOME** |  | $1437 | **2.94%** |  | $1391 | **2.89%** |  | $1410 | **2.86%** |  | $46 | 5 |  | $27 | 8 |
| **NET INTEREST MARGIN AND NET INTEREST INCOME, FTE**<sup>1</sup> |  | $1441 | **2.95%** |  | $1395 | **2.90%** |  | $1415 | **2.87%** |  | $46 | 5 |  | $26 | 8 |
| &nbsp;&nbsp;&nbsp;Memo: Total deposits (interest-bearing and noninterest-bearing demand) | $174128 | $802 | 1.85% | $172705 | $795 | 1.87% | $173670 | $965 | 2.24% | $1423 | $7 | (2) bps | $458 | ($163) | (39) bps |

---

<br><sup>1</sup>Net interest income and net interest margin are presented on a fully taxable-equivalent ("FTE") basis using the federal statutory tax rate of 21% to adjust for the tax-exempt status of income from certain assets held by the Company and are considered non-GAAP financial measures. For further information on these measures, refer to "Non-GAAP Financial Measures and Reconciliations."

------

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **AVERAGE BALANCE SHEETS, ANNUALIZED YIELDS AND RATES** | **AVERAGE BALANCE SHEETS, ANNUALIZED YIELDS AND RATES** | **AVERAGE BALANCE SHEETS, ANNUALIZED YIELDS AND RATES** | **AVERAGE BALANCE SHEETS, ANNUALIZED YIELDS AND RATES** | **AVERAGE BALANCE SHEETS, ANNUALIZED YIELDS AND RATES** | **AVERAGE BALANCE SHEETS, ANNUALIZED YIELDS AND RATES** | **AVERAGE BALANCE SHEETS, ANNUALIZED YIELDS AND RATES** | **AVERAGE BALANCE SHEETS, ANNUALIZED YIELDS AND RATES** | **AVERAGE BALANCE SHEETS, ANNUALIZED YIELDS AND RATES** | | |
| **(dollars in millions)** | **(dollars in millions)** | **(dollars in millions)** | **(dollars in millions)** | **(dollars in millions)** | **(dollars in millions)** | **(dollars in millions)** | **(dollars in millions)** | **(dollars in millions)** | | |
| | **FOR THE SIX MONTHS ENDED JUNE 30,** | **FOR THE SIX MONTHS ENDED JUNE 30,** | **FOR THE SIX MONTHS ENDED JUNE 30,** | **FOR THE SIX MONTHS ENDED JUNE 30,** | **FOR THE SIX MONTHS ENDED JUNE 30,** | **FOR THE SIX MONTHS ENDED JUNE 30,** | **2025 Change** | **2025 Change** | **2025 Change** | **2025 Change** |
|  | **2025** | **2025** | **2025** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** | **2024** |
|  | **Average Balance** | **Interest** | **Rate** | **Average Balance** | **Interest** | **Rate** | **Average Balance** | **Interest** | **Rate** | **Rate** |
| **<u>INTEREST-EARNING ASSETS</u>** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest-bearing cash and due from banks and deposits in banks | $8155 | $181 | 4.41% | $9959 | $270 | 5.37% | ($1804) | ($89) | (96) | bps |
| &nbsp;&nbsp;&nbsp;&nbsp;Taxable investment securities | 46304 | 846 | 3.66 | 44297 | 816 | 3.68 | 2007 | 30 | (2) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Non-taxable investment securities | 1 |  | 2.60 | 1 |  | 2.60 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total investment securities | 46305 | 846 | 3.66 | 44298 | 816 | 3.68 | 2007 | 30 | (2) |  |
| &nbsp;&nbsp;&nbsp;Commercial and industrial | 44271 | 1064 | 4.78 | 44479 | 1239 | 5.51 | (208) | (175) | (73) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial real estate | 26749 | 771 | 5.73 | 28920 | 924 | 6.32 | (2171) | (153) | (59) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total commercial | 71020 | 1835 | 5.14 | 73399 | 2163 | 5.83 | (2379) | (328) | (69) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Residential mortgages | 33147 | 645 | 3.89 | 31508 | 573 | 3.64 | 1639 | 72 | 25 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Home equity | 16988 | 601 | 7.14 | 15212 | 603 | 7.97 | 1776 | (2) | (83) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Automobile | 4047 | 88 | 4.40 | 7282 | 154 | 4.26 | (3235) | (66) | 14 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Education | 9670 | 276 | 5.76 | 11632 | 310 | 5.35 | (1962) | (34) | 41 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Other retail | 4385 | 235 | 10.79 | 4912 | 259 | 10.62 | (527) | (24) | 17 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total retail | 68237 | 1845 | 5.44 | 70546 | 1899 | 5.40 | (2309) | (54) | 4 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total loans and leases | 139257 | 3680 | 5.29 | 143945 | 4062 | 5.62 | (4688) | (382) | (33) |  |
| &nbsp;&nbsp;&nbsp;Loans held for sale | 1975 | 52 | 5.30 | 1064 | 37 | 6.97 | 911 | 15 | (167) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total interest-earning assets** | 195692 | 4759 | 4.86 | 199266 | 5185 | 5.18 | (3574) | (426) | (32) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Noninterest-earning assets | 21297 |  |  | 20730 |  |  | 567 |  |  |  |
| &nbsp;&nbsp;&nbsp;**TOTAL ASSETS** | $216989 |  |  | $219996 |  |  | ($3007) |  |  |  |
| **<u>INTEREST-BEARING LIABILITIES</u>** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Checking with interest | $33273 | $233 | 1.41% | $32980 | $237 | 1.45% | $293 | ($4) | (4) |  |
| &nbsp;&nbsp;&nbsp;Savings | 25647 | 174 | 1.37 | 27653 | 241 | 1.75 | (2006) | (67) | (38) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Money market | 54575 | 733 | 2.71 | 52248 | 876 | 3.37 | 2327 | (143) | (66) |  |
| &nbsp;&nbsp;&nbsp;Time | 22977 | 457 | 4.01 | 25562 | 598 | 4.70 | (2585) | (141) | (69) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total interest-bearing deposits | 136472 | 1597 | 2.36 | 138443 | 1952 | 2.84 | (1971) | (355) | (48) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Short-term borrowed funds | 800 | 17 | 4.20 | 411 | 11 | 5.57 | 389 | 6 | (137) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;FHLB advances | 831 | 19 | 4.62 | 2323 | 66 | 5.58 | (1492) | (47) | (96) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Senior debt | 7087 | 176 | 4.96 | 6399 | 150 | 4.69 | 688 | 26 | 27 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Subordinated debt and other debt | 4660 | 122 | 5.24 | 5656 | 154 | 5.44 | (996) | (32) | (20) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total long-term borrowed funds | 12578 | 317 | 5.04 | 14378 | 370 | 5.13 | (1800) | (53) | (9) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total borrowed funds | 13378 | 334 | 4.99 | 14789 | 381 | 5.14 | (1411) | (47) | (15) |  |
| &nbsp;&nbsp;&nbsp;**Total interest-bearing liabilities** | 149850 | 1931 | 2.59 | 153232 | 2333 | 3.06 | (3382) | (402) | (47) |  |
| &nbsp;&nbsp;&nbsp;Noninterest-bearing demand deposits | 36948 |  |  | 36444 |  |  | 504 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Other noninterest-bearing liabilities | 5736 |  |  | 6722 |  |  | (986) |  |  |  |
| &nbsp;&nbsp;&nbsp;**TOTAL LIABILITIES** | 192534 |  |  | 196398 |  |  | (3864) |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**STOCKHOLDERS' EQUITY** | 24455 |  |  | 23598 |  |  | 857 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY** | $216989 |  |  | $219996 |  |  | ($3007) |  |  |  |
| **INTEREST RATE SPREAD** |  |  | 2.27% |  |  | 2.12% |  |  | 15 |  |
| **NET INTEREST MARGIN AND NET INTEREST INCOME** |  | $2828 | **2.91%** |  | $2852 | **2.88%** |  | ($24) | **3** |  |
| **NET INTEREST MARGIN AND NET INTEREST INCOME, FTE**<sup>1</sup> |  | $2836 | **2.92%** |  | $2861 | **2.89%** |  | ($25) | **3** |  |
| &nbsp;&nbsp;&nbsp;Memo: Total deposits (interest-bearing and noninterest-bearing demand) | $173420 | $1597 | 1.86% | $174887 | $1952 | 2.24% | ($1467) | ($355) | (38) | bps |

---

<sup>1</sup> Net interest income and net interest margin are presented on a fully taxable-equivalent ("FTE") basis using the federal statutory tax rate of 21% to adjust for the tax-exempt status of income from certain assets held by the Company and are considered non-GAAP financial measures. For further information on these measures, refer to "Non-GAAP Financial Measures and Reconciliations."

------

**MORTGAGE BANKING FEES SUMMARY**

**(dollars in millions)**

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **FOR THE SIX MONTHS ENDED JUNE 30,** | **FOR THE SIX MONTHS ENDED JUNE 30,** | **FOR THE SIX MONTHS ENDED JUNE 30,** | **FOR THE SIX MONTHS ENDED JUNE 30,** |
| | | | | | | **2Q25 Change** | **2Q25 Change** | **2Q25 Change** | **2Q25 Change** | | | **2025 Change** | **2025 Change** |
| |<br>**2Q25** |<br>**1Q25** |<br>**4Q24** |<br>**3Q24** |<br>**2Q24** | **1Q25** | **1Q25** | **2Q24** | **2Q24** | **2025** | **2024** | **2024** | **2024** |
| | | | | | | **$/bps** | **%** | **$/bps** | **%** | | | **$/bps** | **%** |
| **<u>MORTGAGE BANKING FEES</u>** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Production revenue | $19 | $15 | $14 | $15 | $14 | $4 | 27% | $5 | 36% | $34 | $29 | $5 | 17% |
| Mortgage servicing revenue | 28 | 32 | 33 | 33 | 35 | (4) | (13) | (7) | (20) | 60 | 68 | (8) | (12) |
| MSR valuation changes, net of hedge impact | 26 | 12 | 13 | (2) | 5 | 14 | 117 | 21 | NM | 38 | 6 | 32 | NM |
| &nbsp;&nbsp;&nbsp;&nbsp;Total mortgage banking fees | $73 | $59 | $60 | $46 | $54 | $14 | 24% | $19 | 35% | $132 | $103 | $29 | 28% |
| Pull-through adjusted locks | $2458 | $2112 | $1543 | $1996 | $1930 | $346 | 16% | $528 | 27% | $4570 | $3334 | $1236 | 37% |
| Production revenue as a percentage of Pull-through adjusted locks | 0.78% | 0.71% | 0.90% | 0.76% | 0.74% | bps |  | bps |  | 0.75% | 0.87% | (12) |  |
| **RESIDENTIAL REAL ESTATE ORIGINATIONS** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Retail | $2189 | $1444 | $1680 | $1749 | $1584 | $745 | 52% | $605 | 38% | $3633 | $2629 | $1004 | 38% |
| Third Party | 1916 | 1474 | 1341 | 1504 | 1323 | 442 | 30 | 593 | 45 | 3390 | 2215 | 1175 | 53 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total | $4105 | $2918 | $3021 | $3253 | $2907 | $1187 | 41% | $1198 | 41% | $7023 | $4844 | $2179 | 45% |
| Originated for sale | $2486 | $1916 | $1948 | $2148 | $1872 | $570 | 30% | $614 | 33% | $4402 | $3168 | $1234 | 39% |
| Originated for investment | 1619 | 1002 | 1073 | 1105 | 1035 | 617 | 62 | 584 | 56 | 2621 | 1676 | 945 | 56 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total | $4105 | $2918 | $3021 | $3253 | $2907 | $1187 | 41% | $1198 | 41% | $7023 | $4844 | $2179 | 45% |
| **MORTGAGE SERVICING INFORMATION (UPB)** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Loans serviced for others | $95422 | $95203 | $95600 | $96120 | $96439 | $219 | —% | ($1017) | (1%) | $95422 | $96439 | ($1017) | (1%) |
| Owned loans serviced | 34284 | 33737 | 33064 | 32655 | 32118 | 547 | 2 | 2166 | 7 | 34284 | 32118 | 2166 | 7 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total | $129706 | $128940 | $128664 | $128775 | $128557 | $766 | 1% | $1149 | 1% | $129706 | $128557 | $1149 | 1% |
| **MSR at fair value** | $1426 | $1397 | $1491 | $1501 | $1568 | $29 | 2% | ($142) | (9%) | $1426 | $1568 | ($142) | (9%) |

---

&nbsp;&nbsp;&nbsp;&nbsp;

------

**SEGMENT FINANCIAL HIGHLIGHTS - CONSUMER BANKING** 

**(dollars in millions)**

---

| | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **FOR THE SIX MONTHS ENDED JUNE 30,** | **FOR THE SIX MONTHS ENDED JUNE 30,** | **FOR THE SIX MONTHS ENDED JUNE 30,** | **FOR THE SIX MONTHS ENDED JUNE 30,** | **FOR THE SIX MONTHS ENDED JUNE 30,** |
| **<u>CONSUMER BANKING</u>** | | | | | | **2Q25 Change** | **2Q25 Change** | **2Q25 Change** | **2Q25 Change** | **2Q25 Change** | **2Q25 Change** | | | **2025 Change** | **2025 Change** | **2025 Change** |
|  | **2Q25** | **1Q25** | **4Q24** | **3Q24** | **2Q24** | **1Q25** | **1Q25** | **1Q25** | **2Q24** | **2Q24** | **2Q24** | **2025** | **2024** | **2024** | **2024** | **2024** |
|  |  |  |  |  |  | **$/bps** | **$/bps** | **%** | **$/bps** | **$/bps** | **%** |  |  | **$/bps** | **$/bps** | **%** |
| Net interest income | $1218 | $1193 | $1196 | $1156 | $1120 | $25 |  | 2% | $98 |  | 9% | $2411 | $2213 | $198 |  | 9% |
| Noninterest income | 329 | 297 | 311 | 285 | 277 | 32 |  | 11 | 52 |  | 19 | 626 | 535 | 91 |  | 17 |
| Total revenue | 1547 | 1490 | 1507 | 1441 | 1397 | 57 |  | 4 | 150 |  | 11 | 3037 | 2748 | 289 |  | 11 |
| Noninterest expense | 963 | 954 | 944 | 916 | 915 | 9 |  | 1 | 48 |  | 5 | 1917 | 1818 | 99 |  | 5 |
| Profit (loss) before credit losses | 584 | 536 | 563 | 525 | 482 | 48 |  | 9 | 102 |  | 21 | 1120 | 930 | 190 |  | 20 |
| Net charge-offs | 81 | 86 | 82 | 84 | 84 | (5) |  | (6) | (3) |  | (4) | 167 | 165 | 2 |  | 1 |
| Income (loss) before income tax expense (benefit) | 503 | 450 | 481 | 441 | 398 | 53 |  | 12 | 105 |  | 26 | 953 | 765 | 188 |  | 25 |
| Income tax expense (benefit) | 127 | 114 | 123 | 114 | 102 | 13 |  | 11 | 25 |  | 25 | 241 | 197 | 44 |  | 22 |
| Net income (loss) | $376 | $336 | $358 | $327 | $296 | $40 |  | 12% | $80 |  | 27% | $712 | $568 | $144 |  | 25% |
| **<u>AVERAGE BALANCES</u>** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Total assets | $78822 | $77534 | $76608 | $75392 | $74295 | $1288 |  | 2% | $4527 |  | 6% | $78182 | $74064 | $4118 |  | 6% |
| Total loans and leases<sup>1</sup> | 72402 | 71054 | 70274 | 69021 | 67960 | 1348 |  | 2 | 4442 |  | 7 | 71732 | 67704 | 4028 |  | 6 |
| Deposits | 127271 | 125728 | 124552 | 121899 | 120478 | 1543 |  | 1 | 6793 |  | 6 | 126504 | 120248 | 6256 |  | 5 |
| Interest-earning assets | 72988 | 71635 | 70857 | 69608 | 68552 | 1353 |  | 2 | 4436 |  | 6 | 72315 | 68301 | 4014 |  | 6 |
| **<u>KEY METRICS</u>** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Net interest margin | 6.69% | 6.76% | 6.72% | 6.60% | 6.57% | (7) | bps |  | 12 | bps |  | 6.72% | 6.51% | 21 | bps |  |
| Efficiency ratio | 62.24 | 64.06 | 62.60 | 63.53 | 65.49 | (182) | bps |  | (325) | bps |  | 63.13 | 66.17 | (304) | bps |  |
| Loan-to-deposit ratio (period-end balances) | 57.24 | 54.97 | 55.85 | 56.34 | 55.73 | 227 | bps |  | 151 | bps |  | 57.24 | 55.73 | 151 | bps |  |
| Loan-to-deposit ratio (average balances) | 56.26 | 56.04 | 55.88 | 56.05 | 55.97 | 22 | bps |  | 29 | bps |  | 56.15 | 55.88 | 27 | bps |  |

---

<sup>1</sup> Includes loans held for sale.

------

**SEGMENT FINANCIAL HIGHLIGHTS - COMMERCIAL BANKING**

**(dollars in millions)**

---

| | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **FOR THE SIX MONTHS ENDED JUNE 30,** | **FOR THE SIX MONTHS ENDED JUNE 30,** | **FOR THE SIX MONTHS ENDED JUNE 30,** | **FOR THE SIX MONTHS ENDED JUNE 30,** | **FOR THE SIX MONTHS ENDED JUNE 30,** |
| **<u>COMMERCIAL BANKING</u>** | | | | | | **2Q25 Change** | **2Q25 Change** | **2Q25 Change** | **2Q25 Change** | **2Q25 Change** | **2Q25 Change** | | | **2025 Change** | **2025 Change** | **2025 Change** |
|  | **2Q25** | **1Q25** | **4Q24** | **3Q24** | **2Q24** | **1Q25** | **1Q25** | **1Q25** | **2Q24** | **2Q24** | **2Q24** | **2025** | **2024** | **2024** | **2024** | **2024** |
|  |  |  |  |  |  | **$/bps** | **$/bps** | **%** | **$/bps** | **$/bps** | **%** |  |  | **$/bps** | **$/bps** | **%** |
| Net interest income | $439 | $441 | $464 | $478 | $494 | ($2) |  | —% | ($55) |  | (11%) | $880 | $1008 | ($128) |  | (13%) |
| Noninterest income | 232 | 215 | 232 | 207 | 242 | 17 |  | 8 | (10) |  | (4) | 447 | 469 | (22) |  | (5) |
| Total revenue | 671 | 656 | 696 | 685 | 736 | 15 |  | 2 | (65) |  | (9) | 1327 | 1477 | (150) |  | (10) |
| Noninterest expense | 317 | 327 | 313 | 300 | 311 | (10) |  | (3) | 6 |  | 2 | 644 | 628 | 16 |  | 3 |
| Profit (loss) before credit losses | 354 | 329 | 383 | 385 | 425 | 25 |  | 8 | (71) |  | (17) | 683 | 849 | (166) |  | (20) |
| Net charge-offs | 84 | 77 | 91 | 91 | 90 | 7 |  | 9 | (6) |  | (7) | 161 | 171 | (10) |  | (6) |
| Income (loss) before income tax expense (benefit) | 270 | 252 | 292 | 294 | 335 | 18 |  | 7 | (65) |  | (19) | 522 | 678 | (156) |  | (23) |
| Income tax expense (benefit) | 64 | 56 | 68 | 63 | 76 | 8 |  | 14 | (12) |  | (16) | 120 | 160 | (40) |  | (25) |
| Net income (loss) | $206 | $196 | $224 | $231 | $259 | $10 |  | 5% | ($53) |  | (20%) | $402 | $518 | ($116) |  | (22%) |
| **<u>AVERAGE BALANCES</u>** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Total assets | $66284 | $65366 | $66787 | $68092 | $68958 | $918 |  | 1% | ($2674) |  | (4%) | $65827 | $69529 | ($3702) |  | (5%) |
| Total loans and leases<sup>1</sup> | 63057 | 62437 | 63789 | 64974 | 65997 | 620 |  | 1 | (2940) |  | (4) | 62749 | 66592 | (3843) |  | (6) |
| Deposits | 42481 | 42178 | 43597 | 44190 | 44203 | 303 |  | 1 | (1722) |  | (4) | 42330 | 45058 | (2728) |  | (6) |
| Interest-earning assets | 63710 | 63018 | 64419 | 65550 | 66447 | 692 |  | 1 | (2737) |  | (4) | 63366 | 66991 | (3625) |  | (5) |
| **<u>KEY METRICS</u>** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Net interest margin | 2.78% | 2.83% | 2.86% | 2.90% | 2.99% | (5) | bps |  | (21) | bps |  | 2.81% | 3.03% | (22) | bps |  |
| Efficiency ratio | 47.47 | 49.77 | 44.78 | 43.84 | 42.28 | (230) | bps |  | 519 | bps |  | 48.60 | 42.54 | 606 | bps |  |
| Loan-to-deposit ratio (period-end balances) | 139.59 | 142.21 | 139.43 | 140.42 | 141.41 | (262) | bps |  | (182) | bps |  | 139.59 | 141.41 | (182) | bps |  |
| Loan-to-deposit ratio (average balances) | 146.90 | 146.86 | 144.70 | 145.93 | 148.15 | 4 | bps |  | (125) | bps |  | 146.88 | 146.57 | 31 | bps |  |

---

<sup>1</sup> Includes loans held for sale.

------

**SEGMENT FINANCIAL HIGHLIGHTS - NON-CORE**

**(dollars in millions)**

---

| | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **FOR THE SIX MONTHS ENDED JUNE 30,** | **FOR THE SIX MONTHS ENDED JUNE 30,** | **FOR THE SIX MONTHS ENDED JUNE 30,** | **FOR THE SIX MONTHS ENDED JUNE 30,** | **FOR THE SIX MONTHS ENDED JUNE 30,** |
| **<u>NON-CORE</u>** | | | | | | **2Q25 Change** | **2Q25 Change** | **2Q25 Change** | **2Q25 Change** | **2Q25 Change** | **2Q25 Change** | | | **2025 Change** | **2025 Change** | **2025 Change** |
|  | **2Q25** | **1Q25** | **4Q24** | **3Q24** | **2Q24** | **1Q25** | **1Q25** | **1Q25** | **2Q24** | **2Q24** | **2Q24** | **2025** | **2024** | **2024** | **2024** | **2024** |
|  |  |  |  |  |  | **$/bps** | **$/bps** | **%** | **$/bps** | **$/bps** | **%** |  |  | **$/bps** | **$/bps** | **%** |
| Net interest income | ($5) | ($15) | ($21) | ($28) | ($31) | $10 |  | 67% | $26 |  | 84% | ($20) | ($68) | $48 |  | 71% |
| Noninterest income | 3 |  |  |  |  | 3 |  | 100 | 3 |  | 100 | 3 |  | 3 |  | 100 |
| Total revenue | (2) | (15) | (21) | (28) | (31) | 13 |  | 87 | 29 |  | 94 | (17) | (68) | 51 |  | 75 |
| Noninterest expense | 15 | 16 | 24 | 23 | 26 | (1) |  | (6) | (11) |  | (42) | 31 | 51 | (20) |  | (39) |
| Profit (loss) before credit losses | (17) | (31) | (45) | (51) | (57) | 14 |  | 45 | 40 |  | 70 | (48) | (119) | 71 |  | 60 |
| Net charge offs | 2 | 37 | 15 | 17 | 10 | (35) |  | (95) | (8) |  | (80) | 39 | 29 | 10 |  | 34 |
| Income (loss) before income tax expense (benefit) | (19) | (68) | (60) | (68) | (67) | 49 |  | 72 | 48 |  | 72 | (87) | (148) | 61 |  | 41 |
| Income tax expense (benefit) | (5) | (17) | (15) | (17) | (17) | 12 |  | 71 | 12 |  | 71 | (22) | (38) | 16 |  | 42 |
| Net income (loss) | ($14) | ($51) | ($45) | ($51) | ($50) | $37 |  | 73% | $36 |  | 72% | ($65) | ($110) | $45 |  | 41% |
| **<u>AVERAGE BALANCES</u>** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Total assets | $5216 | $6536 | $7428 | $8389 | $9418 | ($1320) |  | (20%) | ($4202) |  | (45%) | $5872 | $9986 | ($4114) |  | (41%) |
| Total loans and leases<sup>1</sup> | 5192 | 6510 | 7394 | 8352 | 9376 | (1318) |  | (20) | (4184) |  | (45) | 5847 | 9942 | (4095) |  | (41) |
| Interest-earning assets | 5192 | 6510 | 7394 | 8352 | 9376 | (1318) |  | (20) | (4184) |  | (45) | 5847 | 9942 | (4095) |  | (41) |
| **<u>KEY METRICS</u>** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Net interest margin | (0.43)% | (0.90)% | (1.12)% | (1.30)% | (1.36)% | 47 | bps |  | 93 | bps |  | (0.69)% | (1.38)% | 69 | bps |  |

---

<sup>1</sup> Includes loans held for sale.

------

**SEGMENT FINANCIAL HIGHLIGHTS - OTHER**

**(dollars in millions)**

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **FOR THE SIX MONTHS ENDED JUNE 30,** | **FOR THE SIX MONTHS ENDED JUNE 30,** | **FOR THE SIX MONTHS ENDED JUNE 30,** |
| **<u>OTHER</u>**<sup>1</sup> | | | | | | **2Q25 Change** | **2Q25 Change** | | | **2025 Change** |
|  | **2Q25** | **1Q25** | **4Q24** | **3Q24** | **2Q24** | **1Q25** | **2Q24** | **2025** | **2024** | **2024** |
|  |  |  |  |  |  | $**%** | $**%** |  |  | $**%** |
| Net interest income | ($215) | ($228) | ($227) | ($237) | ($173) | 6% | (24%) | ($443) | ($301) | (47%) |
| Noninterest income | 36 | 32 | 31 | 40 | 34 | 13 | 6 | 68 | 66 | 3 |
| Total revenue | (179) | (196) | (196) | (197) | (139) | 9 | (29) | (375) | (235) | (60) |
| Noninterest expense | 24 | 17 | 35 | 20 | 49 | 41 | (51) | 41 | 162 | (75) |
| Profit (loss) before provision (benefit) for credit losses | (203) | (213) | (231) | (217) | (188) | 5 | (8) | (416) | (397) | (5) |
| Provision (benefit) for credit losses | (3) | (47) | (26) | (20) | (2) | 94 | (50) | (50) | (12) | NM |
| Income (loss) before income tax expense (benefit) | (200) | (166) | (205) | (197) | (186) | (20) | (8) | (366) | (385) | 5 |
| Income tax expense (benefit) | (68) | (58) | (69) | (72) | (73) | (17) | 7 | (126) | (135) | 7 |
| Net income (loss) | ($132) | ($108) | ($136) | ($125) | ($113) | (22%) | (17%) | ($240) | ($250) | 4% |
| **<u>AVERAGE BALANCES</u>** |  |  |  |  |  |  |  |  |  |  |
| Total assets | $67339 | $66873 | $66725 | $66705 | $66551 | 1% | 1% | $67108 | $66417 | 1% |
| Total loans and leases<sup>2</sup> | 912 | 896 | 874 | 837 | 789 | 2 | 16 | 904 | 771 | 17 |
| Deposits | 4376 | 4799 | 6113 | 7962 | 8989 | (9) | (51) | 4586 | 9581 | (52) |
| Interest-earning assets | 54428 | 53896 | 53944 | 53654 | 54089 | 1 | 1 | 54164 | 54033 |  |

---

<sup>1</sup> Includes assets, liabilities, capital, revenues, provision for credit losses, expenses and income tax expense not attributed to our Consumer Banking, Commercial Banking, or Non-Core segments as well as treasury and community development.

<sup>2</sup> Includes loans held for sale.

------

**CREDIT-RELATED INFORMATION** 

**(dollars in millions)**

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **AS OF** | **AS OF** | **AS OF** | **AS OF** | **AS OF** | **JUNE 30, 2025 CHANGE** | **JUNE 30, 2025 CHANGE** | **JUNE 30, 2025 CHANGE** | **JUNE 30, 2025 CHANGE** | **JUNE 30, 2025 CHANGE** | **JUNE 30, 2025 CHANGE** |
| | **June 30, 2025** | **Mar 31, 2025** | **Dec 31, 2024** | **Sept 30, 2024** | **June 30, 2024** | **Mar 31, 2025** | **Mar 31, 2025** | **Mar 31, 2025** | **June 30, 2024** | **June 30, 2024** | **June 30, 2024** |
| | | | | | | **$/bps/%** | **$/bps/%** | **%** | **$/bps/%** | **$/bps/%** | **%** |
| **<u>NONACCRUAL LOANS AND LEASES</u>** | | | | | | | | | | | |
| &nbsp;&nbsp;&nbsp;Commercial and industrial | $233 | $283 | $241 | $219 | $261 | ($50) |  | (18%) | ($28) |  | (11%) |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial real estate | 706 | 700 | 776 | 852 | 678 | 6 |  | 1 | 28 |  | 4 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total commercial | 939 | 983 | 1017 | 1071 | 939 | (44) |  | (4) |  |  |  |
| &nbsp;&nbsp;&nbsp;Residential mortgages<sup>1</sup> | 198 | 198 | 192 | 169 | 153 |  |  |  | 45 |  | 29 |
| &nbsp;&nbsp;&nbsp;&nbsp;Home equity | 282 | 282 | 283 | 281 | 279 |  |  |  | 3 |  | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;Automobile | 34 | 39 | 48 | 46 | 44 | (5) |  | (13) | (10) |  | (23) |
| &nbsp;&nbsp;&nbsp;&nbsp;Education | 19 | 20 | 56 | 59 | 52 | (1) |  | (5) | (33) |  | (63) |
| &nbsp;&nbsp;&nbsp;&nbsp;Other retail | 52 | 60 | 68 | 61 | 60 | (8) |  | (13) | (8) |  | (13) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total retail | 585 | 599 | 647 | 616 | 588 | (14) |  | (2) | (3) |  | (1) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total nonaccrual loans and leases | 1524 | 1582 | 1664 | 1687 | 1527 | (58) |  | (4) | (3) |  |  |
| **<u>ASSET QUALITY RATIOS</u>** |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Allowance for loan and lease losses to loans and leases | 1.44% | 1.46% | 1.48% | 1.47% | 1.50% | (2) | bps |  | (6) | bps |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Allowance for credit losses to loans and leases | 1.59 | 1.61 | 1.62 | 1.61 | 1.63 | (2) | bps |  | (4) | bps |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Allowance for loan and lease losses to nonaccrual loans and leases | 132 | 127 | 124 | 123 | 139 | 5 | % |  | (7 | %) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Allowance for credit losses to nonaccrual loans and leases | 145 | 140 | 136 | 136 | 151 | 5 | % |  | (6 | %) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Nonaccrual loans and leases to loans and leases | 1.09 | 1.15 | 1.20 | 1.19 | 1.08 | (6) | bps |  | 1 | bps |  |

---

<sup>1</sup> Loans fully or partially guaranteed by the FHA, VA and USDA are classified as accruing.

------

**CREDIT-RELATED INFORMATION, CONTINUED**

**(dollars in millions)**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **AS OF** | **AS OF** | **AS OF** | **AS OF** | **AS OF** | **JUNE 30, 2025 CHANGE** | **JUNE 30, 2025 CHANGE** | **JUNE 30, 2025 CHANGE** | **JUNE 30, 2025 CHANGE** |
| | **June 30, 2025** | **Mar 31, 2025** | **Dec 31, 2024** | **Sept 30, 2024** | **June 30, 2024** | **Mar 31, 2025** | **Mar 31, 2025** | **June 30, 2024** | **June 30, 2024** |
| | | | | | | **$/bps** | **%** | **$/bps** | **%** |
| **<u>LOANS AND LEASES 90 DAYS OR MORE PAST DUE AND ACCRUING</u>** | | | | | | | | | |
| &nbsp;&nbsp;&nbsp;Commercial and industrial | $3 | $9 | $8 | $5 | $7 | ($6) | (67%) | ($4) | (57%) |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial real estate | 60 | 4 | 6 | 15 | 36 | 56 | NM | 24 | 67 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total commercial | 63 | 13 | 14 | 20 | 43 | 50 | NM | 20 | 47 |
| &nbsp;&nbsp;&nbsp;Residential mortgages<sup>1</sup> | 128 | 138 | 179 | 146 | 182 | (10) | (7) | (54) | (30) |
| &nbsp;&nbsp;&nbsp;&nbsp;Home equity |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Automobile |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Education | 2 | 3 | 2 | 2 | 2 | (1) | (33) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Other retail | 1 | 1 | 1 | 1 | 1 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total retail | 131 | 142 | 182 | 149 | 185 | (11) | (8) | (54) | (29) |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total loans and leases** | $194 | $155 | $196 | $169 | $228 | $39 | 25% | ($34) | (15%) |

---

<sup>1</sup> 90+ days past due and accruing includes $128 million, $137 million, $172 million, $145 million, and $168 million of loans fully or partially guaranteed by the FHA, VA, and USDA for June 30, 2025, March 31, 2025, December 31, 2024, September 30, 2024 and June 30, 2024, respectively.

------

**CREDIT-RELATED INFORMATION, CONTINUED** 

**(dollars in millions)**

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **FOR THE SIX MONTHS ENDED JUNE 30,** | **FOR THE SIX MONTHS ENDED JUNE 30,** | **FOR THE SIX MONTHS ENDED JUNE 30,** |
| | | | | | | **2Q25 Change** | **2Q25 Change** | | | **2025 Change** |
| |<br>**2Q25** |<br>**1Q25** |<br>**4Q24** |<br>**3Q24** |<br>**2Q24** | **1Q25** | **2Q24** | **2025** | **2024** | **2024** |
| | | | | | | $**%** | $**%** | | | $**%** |
| &nbsp;&nbsp;&nbsp;**<u>CHARGE-OFFS, RECOVERIES AND RELATED RATIOS</u>** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;**<u>GROSS CHARGE-OFFS</u>** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial and industrial | $39 | $34 | $22 | $57 | $14 | 15% | 179% | $73 | $28 | 161% |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial real estate | 54 | 51 | 89 | 49 | 86 | 6 | (37) | 105 | 174 | (40) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total commercial | 93 | 85 | 111 | 106 | 100 | 9 | (7) | 178 | 202 | (12) |
| &nbsp;&nbsp;&nbsp;&nbsp;Residential mortgages |  | 1 |  | 1 | 1 | (100) | (100) | 1 | 3 | (67) |
| &nbsp;&nbsp;&nbsp;&nbsp;Home equity | 4 | 5 | 6 | 4 | 4 | (20) |  | 9 | 8 | 13 |
| &nbsp;&nbsp;&nbsp;&nbsp;Automobile | 14 | 20 | 22 | 25 | 19 | (30) | (26) | 34 | 47 | (28) |
| &nbsp;&nbsp;&nbsp;&nbsp;Education | 26 | 56 | 33 | 30 | 31 | (54) | (16) | 82 | 63 | 30 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other retail | 64 | 67 | 66 | 65 | 68 | (4) | (6) | 131 | 131 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total retail | 108 | 149 | 127 | 125 | 123 | (28) | (12) | 257 | 252 | 2 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total gross charge-offs** | $201 | $234 | $238 | $231 | $223 | (14%) | (10%) | $435 | $454 | (4%) |
| &nbsp;&nbsp;&nbsp;**<u>GROSS RECOVERIES</u>** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial and industrial | $— | $4 | $7 | $3 | $4 | (100%) | (100%) | $4 | $21 | (81%) |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial real estate | 1 |  | 7 | 5 |  | 100 | 100 | 1 |  | 100 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total commercial | 1 | 4 | 14 | 8 | 4 | (75) | (75) | 5 | 21 | (76) |
| &nbsp;&nbsp;&nbsp;&nbsp;Residential mortgages |  | 1 | 1 | 1 | 1 | (100) | (100) | 1 | 2 | (50) |
| &nbsp;&nbsp;&nbsp;&nbsp;Home equity | 6 | 5 | 7 | 5 | 7 | 20 | (14) | 11 | 13 | (15) |
| &nbsp;&nbsp;&nbsp;&nbsp;Automobile | 11 | 12 | 12 | 12 | 15 | (8) | (27) | 23 | 29 | (21) |
| &nbsp;&nbsp;&nbsp;&nbsp;Education | 8 | 5 | 5 | 6 | 5 | 60 | 60 | 13 | 10 | 30 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other retail | 8 | 7 | 10 | 7 | 7 | 14 | 14 | 15 | 14 | 7 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total retail | 33 | 30 | 35 | 31 | 35 | 10 | (6) | 63 | 68 | (7) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total gross recoveries** | $34 | $34 | $49 | $39 | $39 | —% | (13%) | $68 | $89 | (24%) |
| &nbsp;&nbsp;&nbsp;**<u>NET CHARGE-OFFS (RECOVERIES)</u>** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial and industrial | $39 | $30 | $15 | $54 | $10 | 30% | NM | $69 | $7 | NM |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial real estate | 53 | 51 | 82 | 44 | 86 | 4 | (38) | 104 | 174 | (40) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total commercial | 92 | 81 | 97 | 98 | 96 | 14 | (4) | 173 | 181 | (4) |
| &nbsp;&nbsp;&nbsp;&nbsp;Residential mortgages |  |  | (1) |  |  |  |  |  | 1 | (100) |
| &nbsp;&nbsp;&nbsp;&nbsp;Home equity | (2) |  | (1) | (1) | (3) | (100) | 33 | (2) | (5) | 60 |
| &nbsp;&nbsp;&nbsp;&nbsp;Automobile | 3 | 8 | 10 | 13 | 4 | (63) | (25) | 11 | 18 | (39) |
| &nbsp;&nbsp;&nbsp;&nbsp;Education | 18 | 51 | 28 | 24 | 26 | (65) | (31) | 69 | 53 | 30 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other retail | 56 | 60 | 56 | 58 | 61 | (7) | (8) | 116 | 117 | (1) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total retail | 75 | 119 | 92 | 94 | 88 | (37) | (15) | 194 | 184 | 5 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total net charge-offs** | $167 | $200 | $189 | $192 | $184 | (17%) | (9%) | $367 | $365 | 1% |

---

------

**CREDIT-RELATED INFORMATION, CONTINUED**

**(dollars in millions)**

---

| | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **FOR THE SIX MONTHS ENDED JUNE 30,** | **FOR THE SIX MONTHS ENDED JUNE 30,** | **FOR THE SIX MONTHS ENDED JUNE 30,** | **FOR THE SIX MONTHS ENDED JUNE 30,** | **FOR THE SIX MONTHS ENDED JUNE 30,** |
| | | | | | | **2Q25 Change** | **2Q25 Change** | **2Q25 Change** | **2Q25 Change** | **2Q25 Change** | **2Q25 Change** | | | **2025 Change** | **2025 Change** | **2025 Change** |
| |<br>**2Q25** |<br>**1Q25** |<br>**4Q24** |<br>**3Q24** |<br>**2Q24** | **1Q25** | **1Q25** | **1Q25** | **2Q24** | **2Q24** | **2Q24** | **2025** | **2024** | **2024** | **2024** | **2024** |
| | | | | | | **$/bps** | **$/bps** | **%** | **$/bps** | **$/bps** | **%** | | | **$/bps** | **$/bps** | **%** |
| &nbsp;&nbsp;**<u>ANNUALIZED NET CHARGE-OFF (RECOVERY) RATES</u>** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Commercial and industrial | 0.35% | 0.28% | 0.14% | 0.49% | 0.09% | 7 | bps |  | 26 | bps |  | 0.31% | 0.03% | 28 | bps |  |
| &nbsp;&nbsp;&nbsp;Commercial real estate | 0.80 | 0.77 | 1.17 | 0.62 | 1.20 | 3 |  |  | (40) |  |  | 0.79 | 1.21 | (42) |  |  |
| &nbsp;&nbsp;&nbsp;Total commercial | 0.51 | 0.47 | 0.54 | 0.54 | 0.53 | 4 |  |  | (2) |  |  | 0.49 | 0.50 | (1) |  |  |
| &nbsp;&nbsp;&nbsp;Residential mortgages |  | 0.01 |  |  |  | (1) |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Home equity | (0.05) | (0.01) | (0.01) | (0.03) | (0.07) | (4) |  |  | 2 |  |  | (0.03) | (0.06) | 3 |  |  |
| &nbsp;&nbsp;&nbsp;Automobile | 0.36 | 0.73 | 0.83 | 0.81 | 0.27 | (37) |  |  | 9 |  |  | 0.56 | 0.52 | 4 |  |  |
| &nbsp;&nbsp;&nbsp;Education | 0.86 | 1.92 | 1.01 | 0.85 | 0.93 | (106) |  |  | (7) |  |  | 1.44 | 0.92 | 52 |  |  |
| &nbsp;&nbsp;&nbsp;Other retail | 5.23 | 5.46 | 4.54 | 4.93 | 4.98 | (23) |  |  | 25 |  |  | 5.35 | 4.77 | 58 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total retail | 0.45 | 0.70 | 0.53 | 0.54 | 0.51 | (25) |  |  | (6) |  |  | 0.57 | 0.52 | 5 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total loans and leases** | **0.48%** | **0.58%** | **0.53%** | **0.54%** | **0.52%** | (10) | bps |  | (4) | bps |  | **0.53%** | **0.51%** | 2 | bps |  |
| &nbsp;&nbsp;**<u>Memo: Average loans</u>** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Commercial and industrial | $44936 | $43599 | $43674 | $44071 | $44381 | $1337 |  | 3% | $555 |  | 1% | $44271 | $44479 | ($208) |  | —% |
| &nbsp;&nbsp;&nbsp;Commercial real estate | 26487 | 27013 | 27681 | 28209 | 28574 | (526) |  | (2) | (2087) |  | (7) | 26749 | 28920 | (2171) |  | (8) |
| &nbsp;&nbsp;&nbsp;&nbsp;Total commercial | 71423 | 70612 | 71355 | 72280 | 72955 | 811 |  | 1 | (1532) |  | (2) | 71020 | 73399 | (2379) |  | (3) |
| &nbsp;&nbsp;&nbsp;Residential mortgages | 33420 | 32872 | 32520 | 32117 | 31633 | 548 |  | 2 | 1787 |  | 6 | 33147 | 31508 | 1639 |  | 5 |
| &nbsp;&nbsp;&nbsp;Home equity | 17324 | 16647 | 16246 | 15733 | 15343 | 677 |  | 4 | 1981 |  | 13 | 16988 | 15212 | 1776 |  | 12 |
| &nbsp;&nbsp;&nbsp;Automobile | 3705 | 4394 | 5129 | 5942 | 6807 | (689) |  | (16) | (3102) |  | (46) | 4047 | 7282 | (3235) |  | (44) |
| &nbsp;&nbsp;&nbsp;Education | 8660 | 10690 | 10949 | 11155 | 11447 | (2030) |  | (19) | (2787) |  | (24) | 9670 | 11632 | (1962) |  | (17) |
| &nbsp;&nbsp;&nbsp;Other retail | 4277 | 4495 | 4748 | 4776 | 4882 | (218) |  | (5) | (605) |  | (12) | 4385 | 4912 | (527) |  | (11) |
| &nbsp;&nbsp;&nbsp;&nbsp;Total retail | 67386 | 69098 | 69592 | 69723 | 70112 | (1712) |  | (2) | (2726) |  | (4) | 68237 | 70546 | (2309) |  | (3) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total loans and leases** | **$138809** | **$139710** | **$140947** | **$142003** | **$143067** | ($901) |  | (1%) | ($4258) |  | (3%) | **$139257** | **$143945** | ($4688) |  | (3%) |

---

------

**CREDIT-RELATED INFORMATION, CONTINUED**

**(dollars in millions)**

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **FOR THE SIX MONTHS ENDED JUNE 30,** | **FOR THE SIX MONTHS ENDED JUNE 30,** | **FOR THE SIX MONTHS ENDED JUNE 30,** |
| | | | | | | **2Q25 Change** | **2Q25 Change** | | | **2025 Change** |
| |<br>**2Q25** |<br>**1Q25** |<br>**4Q24** |<br>**3Q24** |<br>**2Q24** | **1Q25** | | **2025** | **2024** | **2024** |
| | | | | | | $**%** | $**%** | | | $**%** |
| **<u>SUMMARY OF CHANGES IN THE COMPONENTS OF THE ALLOWANCE FOR CREDIT LOSSES</u>** |  |  |  |  |  |  |  |  |  |  |
| **Allowance for loan and lease losses - beginning** | $2014 | $2061 | $2079 | $2125 | $2086 | (2%) | (3%) | $2061 | $2098 | (2%) |
| Charge-offs: |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial | 93 | 85 | 111 | 106 | 100 | 9 | (7) | 178 | 202 | (12) |
| &nbsp;&nbsp;&nbsp;&nbsp;Retail | 108 | 149 | 127 | 125 | 123 | (28) | (12) | 257 | 252 | 2 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total charge-offs | 201 | 234 | 238 | 231 | 223 | (14) | (10) | 435 | 454 | (4) |
| Recoveries: |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial | 1 | 4 | 14 | 8 | 4 | (75) | (75) | 5 | 21 | (76) |
| &nbsp;&nbsp;&nbsp;&nbsp;Retail | 33 | 30 | 35 | 31 | 35 | 10 | (6) | 63 | 68 | (7) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total recoveries | 34 | 34 | 49 | 39 | 39 |  | (13) | 68 | 89 | (24) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net charge-offs | 167 | 200 | 189 | 192 | 184 | (17) | (9) | 367 | 365 | 1 |
| Provision (benefit) for loan and lease losses: |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial | 50 | 89 | 50 | 3 | 144 | (44) | (65) | 139 | 213 | (35) |
| &nbsp;&nbsp;&nbsp;&nbsp;Retail | 111 | 64 | 121 | 143 | 79 | 73 | 41 | 175 | 179 | (2) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total provision (benefit) for loan and lease losses | 161 | 153 | 171 | 146 | 223 | 5 | (28) | 314 | 392 | (20) |
| **Allowance for loan and lease losses - ending** | $2008 | $2014 | $2061 | $2079 | $2125 | —% | (6%) | $2008 | $2125 | (6%) |
| **Allowance for unfunded lending commitments - beginning** | $198 | $198 | $207 | $181 | $222 | —% | (11%) | $198 | $220 | (10%) |
| &nbsp;&nbsp;&nbsp;&nbsp;Provision (benefit) for unfunded lending commitments | 3 |  | (9) | 26 | (41) | 100% | NM | 3 | (39) | NM |
| **Allowance for unfunded lending commitments - ending** | $201 | $198 | $198 | $207 | $181 | 2% | 11% | $201 | $181 | 11% |
| **Total allowance for credit losses - ending** | $2209 | $2212 | $2259 | $2286 | $2306 | —% | (4%) | $2209 | $2306 | (4%) |
| **Memo: Total allowance for credit losses by product** |  |  |  |  |  |  |  |  |  |  |
| Commercial | $1269 | $1312 | $1295 | $1351 | $1429 | (3%) | (11%) | $1269 | $1429 | (11%) |
| Retail | 940 | 900 | 964 | 935 | 877 | 4 | 7 | 940 | 877 | 7 |
| Total allowance for credit losses | $2209 | $2212 | $2259 | $2286 | $2306 | —% | (4%) | $2209 | $2306 | (4%) |

---

------

**CAPITAL AND RATIOS** 

**(dollars in millions)**

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **AS OF** | **AS OF** | **AS OF** | **AS OF** | **AS OF** | **AS OF** | **AS OF** | **FOR THE SIX MONTHS ENDED JUNE 30,** | **FOR THE SIX MONTHS ENDED JUNE 30,** | **FOR THE SIX MONTHS ENDED JUNE 30,** |
| | | | | | | **JUNE 30, 2025 CHANGE** | **JUNE 30, 2025 CHANGE** | | | **2025 Change** |
| |<br>**June 30, 2025** |<br>**Mar 31, 2025** |<br>**Dec 31, 2024** |<br>**Sept 30, 2024** |<br>**June 30, 2024** | **Mar 31, 2025** | **June 30, 2024** | **2025** | **2024** | **2024** |
| | | | | | | $**%** | $**%** | | | $**%** |
| **<u>CAPITAL RATIOS AND COMPONENTS (PRELIMINARY)</u>** |  |  |  |  |  |  |  |  |  |  |
| CET1 capital | $17812 | $17751 | $17900 | $17941 | $18086 | —% | (2%) |  |  |  |
| Tier 1 capital | 19925 | 19864 | 20013 | 20053 | 20198 |  | (1) |  |  |  |
| Total capital | 23221 | 23156 | 23232 | 23352 | 23551 |  | (1) |  |  |  |
| Risk-weighted assets | 168017 | 166908 | 165699 | 168552 | 168393 | 1 |  |  |  |  |
| Adjusted average assets<sup>1</sup> | 212450 | 211119 | 212555 | 213274 | 214574 | 1 | (1) |  |  |  |
| CET1 capital ratio | 10.6% | 10.6% | 10.8% | 10.6% | 10.7% |  |  |  |  |  |
| Tier 1 capital ratio | 11.9 | 11.9 | 12.1 | 11.9 | 12.0 |  |  |  |  |  |
| Total capital ratio | 13.8 | 13.9 | 14.0 | 13.9 | 14.0 |  |  |  |  |  |
| Tier 1 leverage ratio | 9.4 | 9.4 | 9.4 | 9.4 | 9.4 |  |  |  |  |  |
| **<u>TANGIBLE COMMON EQUITY (PERIOD-END)</u>** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Common stockholders' equity | $23121 | $22753 | $22141 | $22820 | $21757 | 2% | 6% | $23121 | $21757 | 6% |
| &nbsp;&nbsp;&nbsp;&nbsp;Less: Goodwill | 8187 | 8187 | 8187 | 8187 | 8187 |  |  | 8187 | 8187 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Less: Other intangible assets | 128 | 137 | 146 | 137 | 139 | (7) | (8) | 128 | 139 | (8) |
| &nbsp;&nbsp;&nbsp;Add: Deferred tax liabilities<sup>2</sup> | 440 | 438 | 438 | 435 | 435 |  | 1 | 440 | 435 | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total tangible common equity<sup>3</sup> | $15246 | $14867 | $14246 | $14931 | $13866 | 3% | 10% | $15246 | $13866 | 10% |
| **<u>TANGIBLE COMMON EQUITY (AVERAGE)</u>** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Common stockholders' equity | $22494 | $22188 | $22009 | $22380 | $21427 | 1% | 5% | $22342 | $21563 | 4% |
| &nbsp;&nbsp;&nbsp;&nbsp;Less: Goodwill | 8187 | 8187 | 8187 | 8187 | 8188 |  |  | 8187 | 8188 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Less: Other intangible assets | 134 | 142 | 136 | 140 | 144 | (6) | (7) | 138 | 149 | (7) |
| &nbsp;&nbsp;&nbsp;Add: Deferred tax liabilities<sup>2</sup> | 438 | 438 | 436 | 435 | 432 |  | 1 | 438 | 433 | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total tangible common equity<sup>3</sup> | $14611 | $14297 | $14122 | $14488 | $13527 | 2% | 8% | $14455 | $13659 | 6% |
| **<u>INTANGIBLE ASSETS (PERIOD-END)</u>** |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Goodwill | $8187 | $8187 | $8187 | $8187 | $8187 | —% | —% | $8187 | $8187 | —% |
| &nbsp;&nbsp;&nbsp;&nbsp;Other intangible assets | 128 | 137 | 146 | 137 | 139 | (7) | (8) | 128 | 139 | (8) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total intangible assets | $8315 | $8324 | $8333 | $8324 | $8326 | —% | —% | $8315 | $8326 | —% |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<sup>1</sup> Adjusted average assets include quarterly average assets, less deductions for disallowed goodwill and other intangible assets, net of deferred taxes, and the accumulated other comprehensive <br> income impact related to the adoption of post-retirement benefit plan guidance under GAAP.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<sup>2</sup> Deferred tax liabilities relate to tax-deductible goodwill and other intangible assets.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<sup>3</sup> These are non-GAAP financial measures. For further information on these measures, refer to "Non-GAAP Financial Measures and Reconciliations."

------

**NON-GAAP FINANCIAL MEASURES AND RECONCILIATIONS** 

**(dollars in millions, except per share data)**

<u>Non-GAAP Financial Measures</u>

This document contains non-GAAP financial measures, with those denoted as Underlying for any given reporting period excluding certain items that may occur in that period which management does not consider indicative of the Company's on-going financial performance. We believe these non-GAAP financial measures provide useful information to investors because they are used by our management to evaluate our operating performance and make day-to-day operating decisions. In addition, we believe those measures denoted as Underlying in any given reporting period reflect our on-going financial performance in that period and, accordingly, are useful to consider in addition to our GAAP financial results. The following tables present reconciliations of our non-GAAP measures to the most directly comparable GAAP financial measures.

We caution investors not to place undue reliance on such non-GAAP financial measures, but to consider them with the most directly comparable GAAP measures. Non-GAAP financial measures have limitations as analytical tools and should not be considered in isolation or as a substitute for our results reported under GAAP.

------

**NON-GAAP FINANCIAL MEASURES AND RECONCILIATIONS, CONTINUED**

**(dollars in millions, except per share data)**

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **FOR THE SIX MONTHS ENDED JUNE 30,** | **FOR THE SIX MONTHS ENDED JUNE 30,** | **FOR THE SIX MONTHS ENDED JUNE 30,** |
| | | | | | | | **2Q25 Change** | **2Q25 Change** | | | **2025 Change** |
| | |<br>**2Q25** |<br>**1Q25** |<br>**4Q24** |<br>**3Q24** |<br>**2Q24** | **1Q25** | **2Q24** | **2025** | **2024** | **2024** |
| | | | | | | | $**%** | $**%** | | | $**%** |
| **Noninterest income, Underlying:** |  |  |  |  |  |  |  |  |  |  |  |
| Noninterest income (GAAP) | A | $600 | $544 | $574 | $532 | $553 | 10% | 8% | $1144 | $1070 | 7% |
| Less: Notable items |  |  |  | 10 | (2) | 4 |  | (100) |  | 7 | (100) |
| Noninterest income, Underlying (non-GAAP) | B | $600 | $544 | $564 | $534 | $549 | 10% | 9% | $1144 | $1063 | 8% |
| **Total revenue, Underlying:** |  |  |  |  |  |  |  |  |  |  |  |
| Total revenue (GAAP) | C | $2037 | $1935 | $1986 | $1901 | $1963 | 5% | 4% | $3972 | $3922 | 1% |
| Less: Notable items |  |  |  | 10 | (2) | 4 |  | (100) |  | 7 | (100) |
| Total revenue, Underlying (non-GAAP) | D | $2037 | $1935 | $1976 | $1903 | $1959 | 5% | 4% | $3972 | $3915 | 1% |
| **Noninterest expense, Underlying:** |  |  |  |  |  |  |  |  |  |  |  |
| Noninterest expense (GAAP) | E | $1319 | $1314 | $1316 | $1259 | $1301 | —% | 1% | $2633 | $2659 | (1%) |
| Less: Notable items |  |  |  | 24 | 11 | 36 |  | (100) |  | 121 | (100) |
| Noninterest expense, Underlying (non-GAAP) | F | $1319 | $1314 | $1292 | $1248 | $1265 | —% | 4% | $2633 | $2538 | 4% |
| **Pre-provision profit:** |  |  |  |  |  |  |  |  |  |  |  |
| Total revenue (GAAP) | C | $2037 | $1935 | $1986 | $1901 | $1963 | 5% | 4% | $3972 | $3922 | 1% |
| Less: Noninterest expense (GAAP) | E | 1319 | 1314 | 1316 | 1259 | 1301 |  | 1 | 2633 | 2659 | (1) |
| Pre-provision profit (non-GAAP) |  | $718 | $621 | $670 | $642 | $662 | 16% | 8% | $1339 | $1263 | 6% |
| **Pre-provision profit, Underlying:** |  |  |  |  |  |  |  |  |  |  |  |
| Total revenue, Underlying (non-GAAP) | D | $2037 | $1935 | $1976 | $1903 | $1959 | 5% | 4% | $3972 | $3915 | 1% |
| Less: Noninterest expense, Underlying (non-GAAP) | F | 1319 | 1314 | 1292 | 1248 | 1265 |  | 4 | 2633 | 2538 | 4 |
| Pre-provision profit, Underlying (non-GAAP) |  | $718 | $621 | $684 | $655 | $694 | 16% | 3% | $1339 | $1377 | (3%) |
| **Income before income tax expense, Underlying:** |  |  |  |  |  |  |  |  |  |  |  |
| Income before income tax expense (GAAP) | G | $554 | $468 | $508 | $470 | $480 | 18% | 15% | $1022 | $910 | 12% |
| Less: Income (expense) before income tax expense (benefit) related to notable items |  |  |  | (14) | (13) | (32) |  | 100 |  | (114) | 100 |
| Income before income tax expense, Underlying (non-GAAP) | H | $554 | $468 | $522 | $483 | $512 | 18% | 8% | $1022 | $1024 | —% |
| **Income tax expense, Underlying:** |  |  |  |  |  |  |  |  |  |  |  |
| Income tax expense (GAAP) | I | $118 | $95 | $107 | $88 | $88 | 24% | 34% | $213 | $184 | 16% |
| Less: Income tax expense (benefit) related to notable items |  |  |  | (3) | (3) | (16) |  | 100 |  | (37) | 100 |
| Income tax expense, Underlying (non-GAAP) | J | $118 | $95 | $110 | $91 | $104 | 24% | 13% | $213 | $221 | (4%) |
| **Net income, Underlying:** |  |  |  |  |  |  |  |  |  |  |  |
| Net income (GAAP) | K | $436 | $373 | $401 | $382 | $392 | 17% | 11% | $809 | $726 | 11% |
| Add: Notable items, net of income tax benefit |  |  |  | 11 | 10 | 16 |  | (100) |  | 77 | (100) |
| Net income, Underlying (non-GAAP) | L | $436 | $373 | $412 | $392 | $408 | 17% | 7% | $809 | $803 | 1% |
| **Net income available to common stockholders, Underlying:** |  |  |  |  |  |  |  |  |  |  |  |
| Net income available to common stockholders (GAAP) | M | $402 | $340 | $367 | $344 | $357 | 18% | 13% | $742 | $661 | 12% |
| Add: Notable items, net of income tax benefit |  |  |  | 11 | 10 | 16 |  | (100) |  | 77 | (100) |
| Net income available to common stockholders, Underlying (non-GAAP) | N | $402 | $340 | $378 | $354 | $373 | 18% | 8% | $742 | $738 | 1% |

---

------

**NON-GAAP FINANCIAL MEASURES AND RECONCILIATIONS, CONTINUED**

**(dollars in millions, except per share data)**

---

| | | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **FOR THE SIX MONTHS ENDED JUNE 30,** | **FOR THE SIX MONTHS ENDED JUNE 30,** | **FOR THE SIX MONTHS ENDED JUNE 30,** | **FOR THE SIX MONTHS ENDED JUNE 30,** | **FOR THE SIX MONTHS ENDED JUNE 30,** |
| | | | | | | | **2Q25 Change** | **2Q25 Change** | **2Q25 Change** | **2Q25 Change** | **2Q25 Change** | **2Q25 Change** | | | **2025 Change** | **2025 Change** | **2025 Change** |
| | |<br>**2Q25** |<br>**1Q25** |<br>**4Q24** |<br>**3Q24** |<br>**2Q24** | **1Q25** | **1Q25** | **1Q25** | **2Q24** | **2Q24** | **2Q24** | **2025** | **2024** | **2024** | **2024** | **2024** |
| | | | | | | | **$/bps** | **$/bps** | **%** | **$/bps** | **$/bps** | **%** | | | **$/bps** | **$/bps** | **%** |
| **Operating leverage:** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Total revenue (GAAP) | C | $2037 | $1935 | $1986 | $1901 | $1963 | $102 |  | 5.35% | $74 |  | 3.78% | $3972 | $3922 | $50 |  | 1.28% |
| Less: Noninterest expense (GAAP) | E | 1319 | 1314 | 1316 | 1259 | 1301 | 5 |  | 0.47 | 18 |  | 1.42 | 2633 | 2659 | (26) |  | (0.96) |
| Operating leverage |  |  |  |  |  |  |  |  | 4.88% |  |  | 2.36% |  |  |  |  | 2.24% |
| **Operating leverage, Underlying:** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Total revenue, Underlying (non-GAAP) | D | $2037 | $1935 | $1976 | $1903 | $1959 | $102 |  | 5.35% | $78 |  | 4.02% | $3972 | $3915 | $57 |  | 1.46% |
| Less: Noninterest expense, Underlying (non-GAAP) | F | 1319 | 1314 | 1292 | 1248 | 1265 | 5 |  | 0.47 | 54 |  | 4.29 | 2633 | 2538 | 95 |  | 3.76 |
| Operating leverage, Underlying (non-GAAP) |  |  |  |  |  |  |  |  | 4.88% |  |  | (0.27%) |  |  |  |  | (2.30%) |
| **Efficiency ratio and efficiency ratio, Underlying:** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Efficiency ratio | E/C | 64.76% | 67.91% | 66.27% | 66.23% | 66.27% | (315) | bps |  | (151) | bps |  | 66.29% | 67.79% | (150) | bps |  |
| Efficiency ratio, Underlying (non-GAAP) | F/D | 64.76 | 67.91 | 65.36 | 65.61 | 64.59 | (315) | bps |  | 17 | bps |  | 66.29 | 64.82 | 147 | bps |  |
| **Noninterest income as a % of total revenue, Underlying:** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Noninterest income as a % of total revenue | A/C | 29.41% | 28.14% | 28.90% | 27.95% | 28.16% | 127 | bps |  | 125 | bps |  | 28.79% | 27.29% | 150 | bps |  |
| Noninterest income as a % of total revenue, Underlying (non-GAAP) | B/D | 29.41 | 28.14 | 28.54 | 28.05 | 28.00 | 127 | bps |  | 141 | bps |  | 28.79 | 27.16 | 163 | bps |  |
| **Effective income tax rate and effective income tax rate, Underlying:** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Effective income tax rate | I/G | 21.37% | 20.26% | 21.04% | 18.56% | 18.49% | 111 | bps |  | 288 | bps |  | 20.86% | 20.28% | 58 | bps |  |
| &nbsp;&nbsp;&nbsp;Effective income tax rate, Underlying (non-GAAP) | J/H | 21.37 | 20.26 | 21.17 | 18.75 | 20.33 | 111 | bps |  | 104 | bps |  | 20.86 | 21.59 | (73) | bps |  |
| **Return on average common equity and return on average common equity, Underlying:** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Average common equity (GAAP) | O | $22494 | $22188 | $22009 | $22380 | $21427 | $306 |  | 1% | $1067 |  | 5% | $22342 | $21563 | $779 |  | 4% |
| &nbsp;&nbsp;&nbsp;Return on average common equity | M/O | 7.18% | 6.21% | 6.64% | 6.12% | 6.70% | 97 | bps |  | 48 | bps |  | 6.70% | 6.16% | 54 | bps |  |
| &nbsp;&nbsp;&nbsp;Return on average common equity, Underlying (non-GAAP) | N/O | 7.18 | 6.21 | 6.84 | 6.29 | 7.00 | 97 | bps |  | 18 | bps |  | 6.70 | 6.88 | (18) | bps |  |
| **Return on average tangible common equity and return on average tangible common equity, Underlying:** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Average common equity (GAAP) | O | $22494 | $22188 | $22009 | $22380 | $21427 | $306 |  | 1% | $1067 |  | 5% | $22342 | $21563 | $779 |  | 4% |
| Less: Average goodwill (GAAP) |  | 8187 | 8187 | 8187 | 8187 | 8188 |  |  |  | (1) |  |  | 8187 | 8188 | (1) |  |  |
| Less: Average other intangibles (GAAP) |  | 134 | 142 | 136 | 140 | 144 | (8) |  | (6) | (10) |  | (7) | 138 | 149 | (11) |  | (7) |
| Add: Average deferred tax liabilities related to goodwill and other intangible assets (GAAP) |  | 438 | 438 | 436 | 435 | 432 |  |  |  | 6 |  | 1 | 438 | 433 | 5 |  | 1 |
| Average tangible common equity (non-GAAP) | P | $14611 | $14297 | $14122 | $14488 | $13527 | $314 |  | 2% | $1084 |  | 8% | $14455 | $13659 | $796 |  | 6% |
| &nbsp;&nbsp;Return on average tangible common equity (non-GAAP) | M/P | 11.05% | 9.64% | 10.36% | 9.45% | 10.61% | 141 | bps |  | 44 | bps |  | 10.35% | 9.73% | 62 | bps |  |
| &nbsp;&nbsp;&nbsp;Return on average tangible common equity, Underlying (non-GAAP) | N/P | 11.05 | 9.64 | 10.66 | 9.71 | 11.09 | 141 | bps |  | (4) | bps |  | 10.35 | 10.87 | (52) | bps |  |
| **Return on average total assets and return on average total assets, Underlying:** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Average total assets (GAAP) | Q | $217661 | $216309 | $217548 | $218578 | $219222 | $1352 | $1352 | 1% | ($1561) | ($1561) | (1%) | $216989 | $219996 | ($3007) | ($3007) | (1%) |
| &nbsp;&nbsp;&nbsp;Return on average total assets | K/Q | 0.80% | 0.70% | 0.73% | 0.70% | 0.72% | 10 | bps |  | 8 | bps |  | 0.75% | 0.66% | 9 | bps |  |
| &nbsp;&nbsp;&nbsp;Return on average total assets, Underlying (non-GAAP) | L/Q | 0.80 | 0.70 | 0.75 | 0.71 | 0.75 | 10 | bps |  | 5 | bps |  | 0.75 | 0.73 | 2 | bps |  |

---

------

**NON-GAAP FINANCIAL MEASURES AND RECONCILIATIONS, CONTINUED**

**(dollars in millions, except per share data)**

---

| | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **FOR THE SIX MONTHS ENDED JUNE 30,** | **FOR THE SIX MONTHS ENDED JUNE 30,** | **FOR THE SIX MONTHS ENDED JUNE 30,** | **FOR THE SIX MONTHS ENDED JUNE 30,** |
| | | | | | | | **2Q25 Change** | **2Q25 Change** | **2Q25 Change** | **2Q25 Change** | | | **2025 Change** | **2025 Change** |
| | |<br>**2Q25** |<br>**1Q25** |<br>**4Q24** |<br>**3Q24** |<br>**2Q24** | **1Q25** | **1Q25** | **2Q24** | **2Q24** | **2025** | **2024** | **2024** | **2024** |
| | | | | | | | **$/bps** | **%** | **$/bps** | **%** | | | **$/bps** | **%** |
| **Return on average total tangible assets and return on average total tangible assets, Underlying:** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Average total assets (GAAP) | Q | $217661 | $216309 | $217548 | $218578 | $219222 | $1352 | 1% | ($1561) | (1%) | $216989 | $219996 | ($3007) | (1%) |
| Less: Average goodwill (GAAP) |  | 8187 | 8187 | 8187 | 8187 | 8188 |  |  | (1) |  | 8187 | 8188 | (1) |  |
| Less: Average other intangibles (GAAP) |  | 134 | 142 | 136 | 140 | 144 | (8) | (6) | (10) | (7) | 138 | 149 | (11) | (7) |
| &nbsp;&nbsp;&nbsp;Add: Average deferred tax liabilities related to goodwill and other intangible assets (GAAP) |  | 438 | 438 | 436 | 435 | 432 |  |  | 6 | 1 | 438 | 433 | 5 | 1 |
| Average tangible assets (non-GAAP) | R | $209778 | $208418 | $209661 | $210686 | $211322 | $1360 | 1% | ($1544) | (1%) | $209102 | $212092 | ($2990) | (1%) |
| Return on average total tangible assets (non-GAAP) | K/R | 0.83% | 0.73% | 0.76% | 0.72% | 0.75% | 10 |  | 8 |  | 0.78% | 0.69% | 9 |  |
| Return on average total tangible assets, Underlying (non-GAAP) | L/R | 0.83 | 0.73 | 0.78 | 0.74 | 0.78 | 10 |  | 5 |  | 0.78 | 0.76 | 2 |  |
| **Book value per common share and tangible book value per common share:** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Common shares - at period-end (GAAP) | S | 432768811 | 437668127 | 440543381 | 445216549 | 452961853 | (4899316) | (1%) | (20193042) | (4%) | 432768811 | 452961853 | (20193042) | (4%) |
| Common stockholders' equity (GAAP) | T | $23121 | $22753 | $22141 | $22820 | $21757 | $368 | 2 | $1364 | 6 | $23121 | $21757 | $1364 | 6 |
| Less: Goodwill (GAAP) |  | 8187 | 8187 | 8187 | 8187 | 8187 |  |  |  |  | 8187 | 8187 |  |  |
| Less: Other intangible assets (GAAP) |  | 128 | 137 | 146 | 137 | 139 | (9) | (7) | (11) | (8) | 128 | 139 | (11) | (8) |
| Add: Deferred tax liabilities related to goodwill and other intangible assets (GAAP) |  | 440 | 438 | 438 | 435 | 435 | 2 |  | 5 | 1 | 440 | 435 | 5 | 1 |
| Tangible common equity (non-GAAP) | U | $15246 | $14867 | $14246 | $14931 | $13866 | $379 | 3% | $1380 | 10% | $15246 | $13866 | $1380 | 10% |
| Book value per common share (GAAP) | T/S | $53.43 | $51.99 | $50.26 | $51.25 | $48.03 | $1.44 | 3% | $5.40 | 11% | $53.43 | $48.03 | $5.40 | 11% |
| Tangible book value per common share (non-GAAP) | U/S | 35.23 | 33.97 | 32.34 | 33.54 | 30.61 | 1.26 | 4 | 4.62 | 15 | 35.23 | 30.61 | 4.62 | 15 |
| **Net income per average common share - basic and diluted and net income per average common share - basic and diluted, Underlying:** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Average common shares outstanding - basic (GAAP) | V | 433640210 | 438320757 | 440802738 | 446561996 | 454142489 | (4680547) | (1%) | (20502279) | (5%) | 435967554 | 457750585 | (21783031) | (5%) |
| Average common shares outstanding - diluted (GAAP) | W | 436539774 | 442200180 | 444836786 | 449913467 | 456561022 | (5660406) | (1) | (20021248) | (4) | 439342703 | 460009546 | (20666843) | (4) |
| Net income per average common share - basic (GAAP) | M/V | $0.93 | $0.78 | $0.83 | $0.77 | $0.79 | $0.15 | 19 | $0.14 | 18 | $1.70 | $1.44 | $0.26 | 18 |
| Net income per average common share - diluted (GAAP) | M/W | 0.92 | 0.77 | 0.83 | 0.77 | 0.78 | 0.15 | 19 | 0.14 | 18 | 1.69 | 1.44 | 0.25 | 17 |
| Net income per average common share - basic, Underlying (non-GAAP) | N/V | 0.93 | 0.78 | 0.86 | 0.79 | 0.82 | 0.15 | 19 | 0.11 | 13 | 1.70 | 1.61 | 0.09 | 6 |
| Net income per average common share - diluted, Underlying (non-GAAP) | N/W | 0.92 | 0.77 | 0.85 | 0.79 | 0.82 | 0.15 | 19 | 0.10 | 12 | 1.69 | 1.60 | 0.09 | 6 |
| **Dividend payout ratio and dividend payout ratio, Underlying:** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Cash dividends declared and paid per common share | X | $0.42 | $0.42 | $0.42 | $0.42 | $0.42 | $— | —% | $— | —% | $0.84 | $0.84 | $— | —% |
| Dividend payout ratio | X/(M/V) | 45% | 54% | 51% | 55% | 53% | (869) bps |  | (800) bps |  | 49% | 58% | (892) bps |  |
| Dividend payout ratio, Underlying (non-GAAP) | X/(N/V) | 45 | 54 | 49 | 53 | 51 | (869) bps |  | (584) bps |  | 49 | 52 | (300) bps |  |

---

------

**NON-GAAP FINANCIAL MEASURES AND RECONCILIATIONS, CONTINUED**

**(dollars in millions, except per share data)**

---

| | | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **FOR THE SIX MONTHS ENDED JUNE 30,** | **FOR THE SIX MONTHS ENDED JUNE 30,** | **FOR THE SIX MONTHS ENDED JUNE 30,** | **FOR THE SIX MONTHS ENDED JUNE 30,** | **FOR THE SIX MONTHS ENDED JUNE 30,** |
| | | | | | | | **2Q25 Change** | **2Q25 Change** | **2Q25 Change** | **2Q25 Change** | **2Q25 Change** | **2Q25 Change** | | | **2025 Change** | **2025 Change** | **2025 Change** |
| | |<br>**2Q25** |<br>**1Q25** |<br>**4Q24** |<br>**3Q24** |<br>**2Q24** | **1Q25** | **1Q25** | **1Q25** | **2Q24** | **2Q24** | **2Q24** | **2025** | **2024** | **2024** | **2024** | **2024** |
| | | | | | | | **$/bps** | **$/bps** | **%** | **$/bps** | **$/bps** | **%** | | | **$/bps** | **$/bps** | **%** |
| **Common equity ratio and tangible common equity ratio:** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Total assets (GAAP) | Y | $218310 | $220148 | $217521 | $219706 | $219938 | ($1838) | ($1838) | (1)% | ($1628) | ($1628) | (1%) | $218310 | $219938 | ($1628) | ($1628) | (1) |
| Less: Goodwill (GAAP) |  | 8187 | 8187 | 8187 | 8187 | 8187 |  |  |  |  |  |  | 8187 | 8187 |  |  |  |
| Less: Other intangible assets (GAAP) |  | 128 | 137 | 146 | 137 | 139 | (9) | (9) | (7) | (11) | (11) | (8) | 128 | 139 | (11) | (11) | (8) |
| Add: Deferred tax liabilities related to goodwill and other intangible assets (GAAP) |  | 440 | 438 | 438 | 435 | 435 | 2 | 2 |  | 5 | 5 | 1 | 440 | 435 | 5 | 5 | 1 |
| Tangible assets (non-GAAP) | Z | $210435 | $212262 | $209626 | $211817 | $212047 | ($1827) | ($1827) | (1%) | ($1612) | ($1612) | (1%) | $210435 | $212047 | ($1612) | ($1612) | (1%) |
| Common equity ratio (GAAP) | T/Y | 10.6% | 10.3% | 10.2% | 10.4% | 9.9% | 25 bps | 25 bps |  | 70 bps | 70 bps |  | 10.6% | 9.9% | 70 bps | 70 bps |  |
| Tangible common equity ratio (non-GAAP) | U/Z | 7.2 | 7.0 | 6.8 | 7.0 | 6.5 | 24 bps | 24 bps |  | 70 bps | 70 bps |  | 7.2 | 6.5 | 70 bps | 70 bps |  |
| **Net interest income and net interest margin on an FTE basis:** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Net interest income (annualized) (GAAP) | AA | $5770 | $5637 | $5620 | $5447 | $5674 | $133 |  | 2% | $96 |  | 2% | $5704 | $5735 | ($31) |  | (1%) |
| Average interest-earning assets (GAAP) | BB | 196318 | 195058 | 196613 | 197164 | 198465 | 1260 |  | 1 | (2147) |  | (1) | 195692 | 199266 | (3574) |  | (2) |
| Net interest margin (GAAP) | AA/BB | 2.94% | 2.89% | 2.86% | 2.76% | 2.86% | 5 | bps |  | 8 | bps |  | 2.91% | 2.88% | 3 | bps |  |
| Net interest income (GAAP) |  | $1437 | $1391 | $1412 | $1369 | $1410 | $46 |  | 3% | $27 |  | 2% | $2828 | $2852 | ($24) |  | (1%) |
| FTE adjustment |  | 4 | 4 | 4 | 4 | 5 |  |  |  | (1) |  | (20) | 8 | 9 | (1) |  | (11) |
| Net interest income on an FTE basis (non-GAAP) |  | 1441 | 1395 | 1416 | 1373 | 1415 | 46 |  | 3 | 26 |  | 2 | 2836 | 2861 | (25) |  | (1) |
| Net interest income on an FTE basis (annualized) (non-GAAP) | CC | 5786 | 5653 | 5637 | 5465 | 5692 | 133 |  | 2 | 94 |  | 2 | 5720 | 5753 | (33) |  | (1) |
| Net interest margin on an FTE basis (non-GAAP) | CC/BB | 2.95% | 2.90% | 2.87% | 2.77% | 2.87% | 5 | bps |  | 8 | bps |  | 2.92% | 2.89% | 3 | bps |  |
| **Card fees, Underlying:** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Card fees (GAAP) |  | $90 | $83 | $97 | $93 | $92 | $7 |  | 8% | ($2) |  | (2%) | $173 | $178 | ($5) |  | (3%) |
| Less: Notable items |  |  |  | 11 | 6 | 4 |  |  |  | (4) |  | (100) |  | 7 | (7) |  | (100) |
| Card fees, Underlying (non-GAAP) |  | $90 | $83 | $86 | $87 | $88 | $7 |  | 8% | $2 |  | 2% | $173 | $171 | $2 |  | 1% |
| **Other income, Underlying:** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Other income (GAAP) |  | $42 | $22 | $28 | $24 | $10 | $20 |  | 91% | $32 |  | NM | $64 | $27 | $37 |  | 137% |
| Less: Notable items |  |  |  | (1) | (8) |  |  |  |  |  |  |  |  |  |  |  |  |
| Other income, Underlying (non-GAAP) |  | $42 | $22 | $29 | $32 | $10 | $20 |  | 91% | $32 |  | NM | $64 | $27 | $37 |  | 137% |
| **Salaries and employee benefits, Underlying:** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Salaries and employee benefits (GAAP) |  | $681 | $696 | $674 | $647 | $645 | ($15) |  | (2%) | $36 |  | 6% | $1377 | $1336 | $41 |  | 3% |
| Less: Notable items |  |  |  | 17 | 4 | 8 |  |  |  | (8) |  | (100) |  | 25 | (25) |  | (100) |
| Salaries and employee benefits, Underlying (non-GAAP) |  | $681 | $696 | $657 | $643 | $637 | ($15) |  | (2%) | $44 |  | 7% | $1377 | $1311 | $66 |  | 5% |
| **Equipment and software, Underlying:** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Equipment and software (GAAP) |  | $193 | $194 | $193 | $194 | $190 | ($1) |  | (1%) | $3 |  | 2% | $387 | $382 | $5 |  | 1% |
| Less: Notable items |  |  |  | 3 | 2 | 4 |  |  |  | (4) |  | (100) |  | 12 | (12) |  | (100) |
| Equipment and software, Underlying (non-GAAP) |  | $193 | $194 | $190 | $192 | $186 | ($1) |  | (1%) | $7 |  | 4% | $387 | $370 | $17 |  | 5% |
| **Outside services, Underlying:** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Outside services (GAAP) |  | $169 | $155 | $170 | $146 | $165 | $14 |  | 9% | $4 |  | 2% | $324 | $323 | $1 |  | —% |
| Less: Notable items |  |  |  | 4 | 2 | 10 |  |  |  | (10) |  | (100) |  | 22 | (22) |  | (100) |
| Outside services, Underlying (non-GAAP) |  | $169 | $155 | $166 | $144 | $155 | $14 |  | 9% | $14 |  | 9% | $324 | $301 | $23 |  | 8% |

---

------

**NON-GAAP FINANCIAL MEASURES AND RECONCILIATIONS, CONTINUED**

**(dollars in millions, except per share data)**

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **QUARTERLY TRENDS** | **FOR THE SIX MONTHS ENDED JUNE 30,** | **FOR THE SIX MONTHS ENDED JUNE 30,** | **FOR THE SIX MONTHS ENDED JUNE 30,** | **FOR THE SIX MONTHS ENDED JUNE 30,** |
| | | | | | | **2Q25 Change** | **2Q25 Change** | **2Q25 Change** | **2Q25 Change** | | | **2025 Change** | **2025 Change** |
| |<br>**2Q25** |<br>**1Q25** |<br>**4Q24** |<br>**3Q24** |<br>**2Q24** | **1Q25** | **1Q25** | **2Q24** | **2Q24** | **2025** | **2024** | **2024** | **2024** |
| | | | | | | **$/bps** | **%** | **$/bps** | **%** | | | **$/bps** | **%** |
| **Occupancy, Underlying:** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Occupancy (GAAP) | $108 | $112 | $112 | $108 | $113 | ($4) | (4%) | ($5) | (4%) | $220 | $227 | ($7) | (3%) |
| Less: Notable items |  |  | 5 | 1 | 6 |  |  | (6) | (100) |  | 13 | (13) | (100) |
| Occupancy, Underlying (non-GAAP) | $108 | $112 | $107 | $107 | $107 | ($4) | (4%) | $1 | 1% | $220 | $214 | $6 | 3% |
| **Other operating expense, Underlying:** |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Other operating expense (GAAP) | $168 | $157 | $167 | $164 | $188 | $11 | 7% | ($20) | (11%) | $325 | $391 | ($66) | (17%) |
| Less: Notable items |  |  | (5) | 2 | 8 |  |  | (8) | (100) |  | 49 | (49) | (100) |
| Other operating expense, Underlying (non-GAAP) | $168 | $157 | $172 | $162 | $180 | $11 | 7% | ($12) | (7%) | $325 | $342 | ($17) | (5%) |

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