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Exhibit 4.44

DESCRIPTION OF REGISTRANT’S SECURITIES 

REGISTERED PURSUANT TO SECTION 12 OF THE SECURITIES EXCHANGE ACT OF 1934 
 
The rights of Fifth Third shareholders are governed by Ohio law and the Fifth Third articles of incorporation and Fifth Third regulations. The following represents a description of the material terms of Fifth Third’s capital stock. We urge you to read the applicable provisions of Ohio law, the Fifth Third articles of incorporation and Fifth Third regulations and federal law governing bank holding companies carefully and in their entirety because they describe the rights of holders of Fifth Third’s capital stock.
 
General
 
Fifth Third is authorized to issue a total of 2,001,000,000 shares of all classes of stock. Of the total number of authorized shares of stock, 2,000,000,000 shares are shares of common stock, no par value, 500,000 shares are shares of preferred stock, no par value, which we refer to as the original Fifth Third preferred stock, and 500,000 shares are shares of Class B preferred stock, no par value, which we refer to as the Fifth Third Class B preferred stock. We refer to the original Fifth Third preferred stock and the Fifth Third Class B preferred stock collectively as the Fifth Third preferred stock.
 
The Fifth Third Board of Directors is not classified.
 
Shares of Common Stock
 
Fifth Third may issue shares of common stock in such amounts and proportion and for such consideration as may be fixed by its Board of Directors or a properly designated committee thereof.  Shares of Fifth Third common stock are traded on NASDAQ under the symbol “FITB”. The transfer agent and registrar for Fifth Third common stock is American Stock Transfer & Trust Company, LLC.
 
General
 
Holders of shares of Fifth Third common stock are not entitled to preemptive or preferential rights. Shares of Fifth Third common stock have no redemption or sinking fund provisions applicable thereto. Shares of Fifth Third common stock do not have any conversion rights. The rights of holders of shares of Fifth Third common stock will be subject to, and may be adversely affected by, the rights of holders of shares of the outstanding Fifth Third preferred stock and any shares of Fifth Third preferred stock that Fifth Third may issue in the future.
 
Fifth Third may issue authorized but unissued shares of common stock in connection with several employee benefit and stock option and incentive plans maintained by it or its subsidiaries.
 
The outstanding shares of Fifth Third common stock are fully paid and non-assessable and shares of Fifth Third common stock that Fifth Third issues in the future, when fully paid for, will be non-assessable. 
 
Dividends
 
When, as and if dividends are declared by the Fifth Third Board of Directors on the Fifth Third common stock out of funds legally available for their payment, the holders of shares of Fifth Third common stock are entitled to share equally, share for share, in such dividends. The payment of dividends on shares of Fifth Third common stock is subject to the prior payment of dividends payable on outstanding shares of the Fifth Third preferred stock.
 

Liquidation
 
In the event of Fifth Third’s voluntary or involuntary liquidation, dissolution and winding-up, the holders of shares of Fifth Third common stock are entitled to receive on a share-for-share basis, any of Fifth Third’s assets or funds available for distribution after Fifth Third has paid in full all of its debts and distributions and the full liquidation preferences of all series of shares of outstanding Fifth Third preferred stock.
 
Voting Rights
 
Subject to the rights, if any, of the holders of shares of any series of the Fifth Third preferred stock, holders of shares of Fifth Third common stock have voting rights and are entitled to one vote for each share of common stock on all matters voted upon by Fifth Third shareholders. Holders of shares of Fifth Third common stock do not have the right to cumulate their voting power in the election of directors.
 
Change of Control
 
Articles of Incorporation and Code of Regulations. The Fifth Third articles of incorporation and Fifth Third regulations contain various provisions that could discourage or delay attempts to gain control of Fifth Third, including, among others, provisions that:
 
									
	 	•	authorize the Fifth Third Board of Directors to fix its size between 10 and 30 directors;
	 	 	 
	 	•	provide that directors may be removed only for cause and only by a vote of the holders of a majority of the voting power of all of the then-outstanding shares of capital stock of Fifth Third entitled to vote generally in the election of directors, voting together as a single class; and
	 	 	 
	 	•	authorize directors to fill vacancies on the Fifth Third Board of Directors that occur between annual shareholder meetings, except for vacancies caused by a director’s removal by a shareholder vote.

 
In addition, the ability of the Fifth Third Board of Directors to issue authorized but unissued common shares or preferred stock could have an anti-takeover effect.
 
In order to amend the Fifth Third articles of incorporation, the affirmative vote of the holders of shares entitling them to exercise the majority of the voting power of Fifth Third is required. In order to amend the Fifth Third regulations, the affirmative vote of the holders of shares entitling them to exercise a majority of the voting power of Fifth Third is required at a meeting of shareholders, or by written consent of the holders of shares entitling them to exercise the majority of the voting power of Fifth Third without a meeting. The Fifth Third regulations may also be altered and amended, from time to time, by the Fifth Third Board of Directors to the extent permitted by the Ohio General Corporation Law.
 
Federal Bank Regulatory Limitations. The ability of a third party to acquire Fifth Third’s stock is also limited under applicable U.S. banking laws, including regulatory approval requirements. Under the Change in Bank Control Act of 1978, as amended, and the Federal Reserve Board’s regulations thereunder, any person, either individually or acting through or in concert with one or more persons, is prohibited from acquiring “control” of a bank holding company unless:
 
									
	 	•	the Federal Reserve Board has been given 60 days’ prior written notice of the proposed acquisition; and
	 	 	 
	 	•	within that time period or a longer time period if the Federal Reserve Board extends the period during which such a disapproval may be issued, the Federal Reserve Board does not issue a notice disapproving the proposed acquisition.

 
An acquisition of control may be made before expiration of the disapproval period if the Federal Reserve Board issues written notice that it intends not to disapprove the action. The acquisition of more than 10% of a class of voting securities of a bank holding company with publicly held securities, such as Fifth Third, generally would constitute the acquisition of control of the bank holding company under the Change in Bank Control Act. An acquisition of control is not subject to the Change in Bank Control Act notice requirement if it is otherwise subject to approval under the Bank Merger Act or Section 3 of the BHC Act.
 
Under the BHC Act, and the Federal Reserve Board’s regulations thereunder, any bank holding company would be required to obtain the approval of the Federal Reserve Board before acquiring, directly or indirectly, more than 5% of the outstanding shares of any class of Fifth Third voting securities. In addition, any “company,” as defined in the BHC Act, other than a bank holding company, would be required to obtain Federal Reserve Board approval before acquiring “control” of Fifth Third. “Control” for purposes of the BHC Act generally means:  
 
									
	 	•	the ownership or control of 25% or more of a class of voting securities;
	 	 	 
	 	•	the ability to elect a majority of the directors; or
			
		•	the ability otherwise to exercise a controlling influence over management and policies.

A person, other than an individual, that controls Fifth Third for purposes of the BHC Act is subject to regulation and supervision as a bank holding company under the BHC Act.
 
For purposes of the Federal Reserve Board approval requirements described above, shares of stock issued by a single issuer are deemed to be the same class of voting shares, regardless of differences in dividend rights or liquidation preference, if the shares are voted together as a single class on all matters for which the shares have voting rights other than certain matters that affect solely the rights or preferences of the shares. In addition to assessing the number of voting securities owned by an investor, the Federal Reserve Board also likely would assess the voting power associated with an investor’s voting securities when determining what proportion of a class of voting securities is controlled by the investor. Determinations of what constitutes a class of voting securities and calculations of the proportion of a class of voting securities that is controlled by an investor are made by the Federal Reserve pursuant to applicable law, applicable regulations and its practices. The foregoing discussion is not intended to describe all laws, regulations and regulatory practices relevant to federal bank regulatory approval requirements.
 
 
Shares of the Original Fifth Third Preferred Stock
 
The Fifth Third Board of Directors has the right to adopt amendments to the Fifth Third articles in respect of any unissued or treasury shares of the original Fifth Third preferred stock and fix or change: (1) the division of such shares of the original Fifth Third preferred stock into series and the designation and authorized number of shares of each series; (2) the dividend rate; (3) whether dividend rights shall be cumulative or non-cumulative; (4) the dates of payment of dividends and the dates from which they are cumulative; (5) liquidation price; (6) redemption rights and price; (7) sinking fund requirements; and (8) conversion rights; and restrictions on the issuance of such shares or any series thereof.

The terms of the only outstanding series of the original Fifth Third Preferred Stock that are registered pursuant to Section 12 of the Securities Exchange Act of 1934, as amended are described below.
  
Series I Preferred Stock
 
In December 2013, Fifth Third issued 18,000,000 depositary shares, each representing a 1/1000th ownership interest in a share of Series I Preferred Stock. The Series I Preferred Stock: (i) is nonvoting, other than class voting rights on certain matters that could adversely affect the shares; (ii) pays a non-cumulative fixed-to-floating rate dividend; and 

(iii) is not redeemable, except, subject to receiving all required regulatory approvals, at Fifth Third’s option (1) in whole or in part, at any time, or from time to time, on or after December 31, 2023, and (2) in whole, but not in part, at any time prior to December 31, 2023, following the occurrence of a “regulatory capital event,” as defined with respect to the Series I Preferred Stock in the Fifth Third articles.
 
Through, but excluding December 31, 2023, dividends on the Series I Preferred Stock will accrue, on a non-cumulative basis, at an annual rate of 6.625%. Commencing on December 31, 2023 and continuing for so long as any shares of Series I Preferred Stock remain outstanding, dividends on the Series I Preferred Stock will accrue, on a non-cumulative basis, at an annual rate equal to three-month LIBOR, reset quarterly, plus 3.71%. The Series I Preferred Stock ranks senior to shares of Fifth Third common stock in the event of liquidation or dissolution of Fifth Third. In the event of the liquidation or dissolution of Fifth Third, holders of shares of the Series I Preferred Stock are entitled to a liquidation preference of $25,000 per share, plus any declared and unpaid dividends, before any distribution of assets is made to holders of shares of Fifth Third common stock.
 
Holders of shares of Series I Preferred Stock will have no conversion rights. Holders of the Series I Preferred Stock will have no preemptive or subscription rights. There will be no sinking fund for the redemption or purchase of the Series I Preferred Stock or the depositary shares. No holder of the Series I Preferred Stock or of the depositary shares will have the right to require the redemption of the Series I Preferred Stock.

The shares of the Series I Preferred Stock are deposited with Wilmington Trust, National Association which we refer to as the depositary. The depositary issued depositary shares, in respect thereof each representing a 1/1000th interest in one share of the Series I Preferred Stock and represented by depositary receipts. The deposit agreement sets forth the various rights and obligations of the parties thereto and establishes the relationship between Fifth Third as the issuer, the depositary and calculation agent, and the transfer agent and registrar. Subject to the terms of the deposit agreement, each holder of a depositary share is entitled, through the depositary, in proportion to the applicable fraction of a share of the Series I Preferred Stock represented by such depositary share, to all the rights and preferences of Series I Preferred Stock represented thereby (including dividend, voting, redemption and liquidation rights, as applicable). The depositary shares representing the Series I Preferred Stock are traded on the NASDAQ Global Select Market under the symbol “FITBI”.
  
Series K Preferred Stock

In September 2019, Fifth Third issued 10,000,000 depositary shares, each representing a 1/1000th ownership interest in a share of Series K Preferred Stock. The Series K Preferred Stock: (i) is nonvoting, other than class voting rights on certain matters that could adversely affect the shares; (ii) pays a non-cumulative 4.95% fixed rate dividend; and (iii) is not redeemable, except, subject to receiving all required regulatory approvals, at Fifth Third’s option (1) in whole or in part, at any time, or from time to time, on or after September 30, 2024, and (2) in whole, but not in part, at any time following the occurrence of a “regulatory capital event,” as defined with respect to the Series K Preferred Stock in the Fifth Third articles.
 
Commencing on September 17, 2019 and continuing for so long as any shares of Series K Preferred Stock remain outstanding, dividends on the Series K Preferred Stock will accrue, on a non-cumulative basis, at an annual rate of 4.95%. The Series K Preferred Stock ranks senior to shares of Fifth Third common stock in the event of liquidation or dissolution of Fifth Third. In the event of the liquidation or dissolution of Fifth Third, holders of shares of the Series K Preferred Stock are entitled to a liquidation preference of $25,000 per share, plus any declared and unpaid dividends, before any distribution of assets is made to holders of shares of Fifth Third common stock.
 
Holders of shares of Series K Preferred Stock will have no conversion rights. Holders of the Series K Preferred Stock will have no preemptive or subscription rights. There will be no sinking fund for the redemption or purchase of the Series K Preferred Stock or the depositary shares. No holder of the Series K Preferred Stock or of the depositary shares will have the right to require the redemption of the Series K Preferred Stock.

The shares of the Series K Preferred Stock are deposited with American Stock Transfer & Trust Company, LLC, which we refer to as the depositary. The depositary issued depositary shares, in respect thereof each representing a 1/1000th interest in one share of the Series K Preferred Stock and represented by depositary receipts. The deposit agreement sets forth the various rights and obligations of the parties thereto and establishes the relationship between Fifth Third as the issuer, the depositary and paying agent, and the transfer agent and registrar. Subject to the terms of the deposit agreement, each holder of a depositary share is entitled, through the depositary, in proportion to the applicable fraction of a share of the Series K Preferred Stock represented by such depositary share, to all the rights and preferences of Series K Preferred Stock represented thereby (including dividend, voting, redemption and liquidation rights, as applicable). The depositary shares representing the Series K Preferred Stock are traded on the NASDAQ Global Select Market under the symbol “FITBO”.

Shares of the Fifth Third Class B Preferred Stock
 
The Fifth Third Board of Directors has the right to adopt amendments to the Fifth Third articles in respect of any unissued or treasury shares of the Fifth Third Class B preferred stock and fix or change: (1) dividend or distribution rights, which may be cumulative or non-cumulative; at a specified rate amount or proportion; with or without further participation rights; and in preference to, junior to, or on a parity, in whole or in part, with dividend or distribution rights of shares of any other class; (2) liquidation rights, preferences and price; (3) redemption rights and price; (4) sinking fund requirements, which may require Fifth Third to provide a sinking fund out of earnings or otherwise for the purchase or redemption of the shares or for dividends or distributions on them; (5) voting rights, which may be full, limited or denied, except as otherwise required by law; (6) preemptive rights, or the denial or limitation of them; (7) conversion rights; (8) restrictions on the issuance of shares; (9) rights of alteration of express terms; (10) the division of any class of shares into series; (11) the designation and authorized number of shares of each series; and (12) any other relative, participating, optional or other special rights and privileges on, and qualifications or restrictions on, the rights of holders of shares of any class or series of the Fifth Third Class B preferred stock.

The terms of the only outstanding series of the Class B Preferred Stock that is outstanding, which is registered pursuant to Section 12 of the Securities Exchange Act of 1934, as amended, are described below.
  
6.00% Non-Cumulative Perpetual Class B Preferred Stock, Series A
 
In August 2019, Fifth Third issued 8,000,000 depositary shares, each representing a 1/40th interest in a share of Class B Preferred Stock, Series A. The shares of the Class B Preferred Stock, Series A are not convertible into, or exchangeable for, shares of any other class or series of Fifth Third’s shares or other securities and are not subject to any sinking fund or other obligation to redeem or repurchase. 
 
The shares of the Class B Preferred Stock, Series A rank, as to the payment of dividends and/or distribution of assets upon Fifth Third’s liquidation, dissolution or wind-up, senior to shares of Fifth Third common stock and either junior, senior or equal to any other class or series of shares issued by Fifth Third that are designated as junior, senior or equal to the Class B Preferred Stock, Series A. The Class B Preferred Stock, Series A ranks on parity, as to dividends and, upon liquidation, dissolution or winding-up of Fifth Third, in the distribution of assets, with the outstanding Series H Preferred Stock, Series I Preferred Stock, Series J Preferred Stock and Series K Preferred Stock.
 
Holders of the shares of Class B Preferred Stock, Series A are entitled to receive, when, as and if declared by the Fifth Third Board of Directors out of funds legally available therefor, non-cumulative cash dividends on the liquidation preference amount of $1,000 per share at a rate of 6.00% per annum. When dividends are not paid in full upon the shares of the Class B Preferred Stock, Series A and the Class B Preferred Stock, Series A parity securities, if any, all dividends declared upon shares of the Class B Preferred Stock, Series A and the Class B Preferred Stock, Series A parity securities, if any, will be declared on a proportional basis so that the amount of dividends declared per share will bear to each other the same ratio that accrued dividends for the Class B Preferred Stock, Series A, and accrued dividends, including any accumulations, on the Class B Preferred Stock, Series A parity securities, if any, bear to each other for the then current dividend period.
 

Except as set forth below, the Class B Preferred Stock, Series A is not subject to any mandatory redemption, sinking fund or other similar provisions. The holders of shares of the Class B Preferred Stock, Series A do not have the right to require the redemption or repurchase of shares of the Class B Preferred Stock, Series A. The holders of shares of Class B Preferred Stock, Series A will have no preemptive rights with respect to any shares of Fifth Third’s capital stock or any of its other securities convertible into or carrying rights or options to purchase any such capital stock.
 
The shares of the Class B Preferred Stock, Series A are redeemable by Fifth Third at its option (i) on any dividend payment date on or after November 25, 2022, in whole or in part, from time to time, or (ii) within 90 days following the occurrence of a “regulatory capital treatment event,” as defined with respect to the Class B Preferred Stock, Series A in the Fifth Third articles of incorporation, in whole but not in part, at any time, in each case at a redemption price equal to $1,000 per share, plus any declared and unpaid dividends on the shares of the Class B Preferred Stock, Series A called for redemption. Dividends will cease to accrue on those shares on and after the redemption date. Redemption of the shares of the Class B Preferred Stock, Series A is subject to Fifth Third’s receipt of any required prior approvals from the Federal Reserve and to the satisfaction of any conditions set forth in the capital guidelines of the Federal Reserve applicable to the redemption of the shares of the Class B Preferred Stock, Series A. However, unless the full dividends for the most recently completed dividend period have been declared or paid on all outstanding shares of the Class B Preferred Stock, Series A, during a dividend period, (i) no shares of capital stock ranking junior to the Class B Preferred Stock, Series A shall be repurchased, redeemed or otherwise acquired for consideration by Fifth Third, subject to certain exceptions, nor shall any monies be paid to or made available for a sinking fund for the redemption of any such shares by Fifth Third, and (ii) no shares of capital stock ranking equal to the Class B Preferred Stock, Series A shall be repurchased, redeemed or otherwise acquired for consideration by Fifth Third, other than pursuant to pro rata offers to purchase all, or a pro rata portion of the Class B Preferred Stock, Series A and such shares ranking equal to the Class B Preferred Stock, Series A, except by conversion into or exchange for shares of capital stock ranking junior to the Class B Preferred Stock, Series A.
  
In the event Fifth Third liquidates, dissolves or winds up its business and affairs, either voluntarily or involuntarily, holders of shares of the Class B Preferred Stock, Series A will be entitled to receive liquidating distributions of $1,000 per share, plus any declared and unpaid dividends, before Fifth Third makes any distribution of assets to the holders of shares of Fifth Third common stock or any other class or series of shares ranking junior to shares of the Class B Preferred Stock, Series A with respect to the distribution of assets. If the assets of Fifth Third are not sufficient to pay in full all amounts payable, including declared but unpaid dividends, with respect to shares of the Class B Preferred Stock, Series A and shares of any stock having the same rank as the Class B Preferred Stock, Series A with respect to the distribution of assets, the holders of shares of the Class B Preferred Stock, Series A and shares of that other stock will share in any distribution of assets in proportion to the respective aggregate liquidation preferences to which they are entitled. After the holders of shares of the Class B Preferred Stock, Series A and shares of any stock having the same rank as the Class B Preferred Stock, Series A are paid in full, they will have no right or claim to any of Fifth Third’s remaining assets.
 
Holders of shares of the Class B Preferred Stock, Series A vote together with holders of shares of Fifth Third common stock as a single class on all matters on which the holders of shares of Fifth Third common stock are entitled to vote, with the holders of shares of the Class B Preferred Stock, Series A being entitled to 24 votes for each share of the Class B Preferred Stock, Series A standing in such holder’s name on the books of Fifth Third and the holders of shares of Fifth Third common stock being entitled to one vote per share of Fifth Third common stock. In addition, so long as there are any shares of the Class B Preferred Stock, Series A outstanding, the affirmative vote of the holders of at least a majority of all of the shares of the Class B Preferred Stock, Series A at the time outstanding, voting together as a single class, will be required to: (1) amend, alter or repeal the provisions of the Fifth Third articles or the Fifth Third regulations so as to adversely affect the powers, preferences, privileges or special rights of the Class B Preferred Stock, Series A, subject to certain exceptions; (2) amend or alter the Fifth Third articles to authorize or increase the authorized amount of or issue shares of any class or series of stock, or reclassify any of Fifth Third’s authorized capital stock into any shares of capital stock, ranking senior to the Class B Preferred Stock, Series A with respect to payment of dividends or the distribution of assets upon liquidation, dissolution or winding-up of Fifth Third, or issue any obligation or security convertible into or evidencing the right to purchase any such shares of senior stock; or (3) consummate a binding share exchange, a reclassification involving the Class B Preferred Stock, Series A or a merger or consolidation of Fifth Third with or into another 

entity, unless (i) the Class B Preferred Stock, Series A remains outstanding or, in the case of any such merger or consolidation with respect to which Fifth Third is not the surviving or resulting entity, is converted into or exchanged for preferred securities of the surviving or resulting entity (or its ultimate parent), and (ii) the Class B Preferred Stock, Series A remaining outstanding or the new preferred securities, as the case may be, have such powers, preferences and special rights that will not be materially less favorable to the holders thereof than the powers, preferences and special rights of the Class B Preferred Stock, Series A, taken as a whole.
 
If and whenever dividends payable on the shares of Class B Preferred Stock, Series A shall have not been paid in an aggregate amount equal to full dividends for six or more dividend periods (whether or not consecutive), which we refer to as a nonpayment event, the authorized number of directors then constituting the Fifth Third Board of Directors shall be automatically increased by two and the holders of shares of the Class B Preferred Stock, Series A, together with the holders of any other class or series of outstanding shares of Fifth Third preferred stock upon which similar voting rights as described in this section have been conferred and are exercisable with respect to such matter, which we refer to as the voting parity stock, voting together as a single class in proportion to their respective liquidation preferences, shall be entitled to elect, by a plurality of the votes cast, the two additional directors. When dividends have been paid in full on the Class B Preferred Stock, Series A for at least four consecutive dividend periods, then the right of the holders of shares of the Class B Preferred Stock, Series A to elect the two additional directors will terminate.
 
The holders of shares of the Class B Preferred Stock, Series A have exclusive rights on any amendment to the Fifth Third charter that would only alter the contract rights of the shares of the Class B Preferred Stock, Series A. Except as set forth above, the shares of the Class B Preferred Stock, Series A will not have any voting rights except as required by Ohio law.
 
The shares of the Class B Preferred Stock, Series A are deposited with American Stock Transfer & Trust Company, LLC, which we refer to as the depositary. The depositary issued depositary shares, in respect thereof each representing a 1/40th interest in one share of the Class B Preferred Stock, Series A and represented by depositary receipts. The deposit agreement sets forth the various rights and obligations of the parties thereto and establishes the relationship between Fifth Third as the issuer, the depositary and calculation agent, and the transfer agent and registrar. Subject to the terms of the deposit agreement, each holder of a depositary share is entitled, through the depositary, in proportion to the applicable fraction of a share of the Class B Preferred Stock, Series A represented by such depositary share, to all the rights and preferences of Class B Preferred Stock, Series A represented thereby (including dividend, voting, redemption and liquidation rights, as applicable). The depositary shares representing interests in the Class B Preferred Stock, Series A are listed on the NASDAQ Global Select Market under the symbol “FITBP”.
 
Please refer to “—Federal Bank Regulatory Limitations” above for information regarding certain regulatory approval requirements under applicable U.S. banking laws that apply to certain acquisitions of voting securities, including the Class B Preferred Stock, Series A. If the Federal Reserve Board were to determine that, for purposes of such regulatory approvals, the Class B Preferred Stock, Series A represents a separate class of voting securities distinct from the common stock, including as a result of the holders of the Class B Preferred Stock, Series A becoming entitled to vote for the election of additional directors because dividends are in arrears, such regulatory approvals could be required based on solely a shareholder’s proportionate ownership of the Class B Preferred Stock, Series A.Document

Exhibit 10.71

    

Long-Term Incentive Compensation Program Overview
Awards Granted in 2022
Category 1 Covered Executives
There are three primary components of compensation at Fifth Third Bank: Base Salary, Variable Compensation (VC), and Long-Term Incentive Compensation (LTI). The following pages, the Fifth Third Bancorp 2021 Incentive Compensation Plan (“Plan”) and the applicable award agreements provide key details of the LTI program for awards granted in 2022. Please review this information carefully to understand how this element of your compensation will be awarded and delivered.
Compensation Philosophy at Fifth Third Bank
Fifth Third Bank pays for performance, both on an individual and a group basis (i.e. division or region). We structure our market-based compensation programs to target pay at the median of our peers for median performance and to provide upside and downside performance above and below median. We expect that our highest performers will receive a significantly larger share of cash incentive and long- term incentive awards with the lowest performers receiving little to no awards.
Awards to be granted to eligible employees in February of 2022 will be delivered as follows:

												
	    Band
	Performance Shares
	Restricted Stock Units
	Stock Appreciation Rights

	Bands A-B & Other Category 1 Covered Executives
	50%
	35%
	15%

2022 Performance Share Awards
Performance Shares – An Overview:
A Performance Share is a long-term incentive compensation vehicle granted pursuant to the Plan that gives participants the opportunity to receive a value subject to achievement of specific performance goals tied to the grant. The grant remains subject to forfeiture over a multi-year performance period with shares earned based on the achievement of the pre-determined performance metrics and goals set forth below.
The Performance Period for Performance Shares is three years. For grants made in February 2022 the performance period will run from Jan. 1, 2022 through Dec. 31, 2024, with payout, if any, occurring in February 2025 (as also outlined in the Award Agreement).

Performance Definition and Goals:
For Performance Shares, there are four performance criteria that are measured and assessed before any shares are earned: a core performance metric of Return on Average Common Equity (ROACE), two threshold goals of Efficiency Ratio and Return on Tangible Equity (ROTCE) and the Individual Risk Performance Evaluation. ROACE and the Efficiency Ratio are used to determine payout levels. The ROTCE and Risk Performance Evaluation are used to determine whether portions of grants should be forfeited. Each metric and how it is measured is described below:
Return on Average Common Equity (ROACE)
The core performance metric for Performance Shares is Return on Average Common Equity (ROACE). Fifth Third Bancorp’s ROACE is measured against the Bank’s revised peer group as follows:
•Citizen’s Financial Group
•Comerica Incorporated
•First Horizon National
•Hunting Bancshares Incorporated
•KeyCorp
•M&T Bank Corporation
•PNC Financial Services Group, Inc.
•Regions Financial Corporation
•Truist Financial Corporation
•Zions Bancorporation
ROACE Calculation: the number of performance shares earned is dependent upon the ROACE achieved by Fifth Third Bancorp during the Performance Period commencing Jan. 1, 2022 and ending Dec. 31, 2024 relative to the Peer Group set forth above. For this purpose, ROACE is calculated as

cumulative adjusted net income available to common shareholders divided by average adjusted Bancorp common shareholders’ equity during the Performance Period. Adjusted net income available to common shareholders shall be determined based upon the financial results for each of the three fiscal years during the Performance Period, adjusted for the following items:
•Changes in tax laws, generally accepted accounting principles, or other laws or provisions affecting reported results
•Significant legal and regulatory settlements
•Asset write-downs, write-offs, dispositions, or sales (except Worldpay investments) resulting from a change in business strategy
•Mark-to-Market impacts on the Visa swap and gains associated with the redemption or sale of Visa shares
•Merger-related, restructuring, early debt extinguishment, and other-than-temporary impairment charges
•Gains or losses on securities
To the extent possible, the Human  Capital and Compensation Committee (“the Committee”) also makes similar adjustments to the reported performances of peer group members.
Changes in the peer group resulting from M&A activity (e.g., a merger of peers, or a peer participating in an M&A transaction whereby they are not the surviving entity) will have an impact on the performance calculation.  If such a change occurs, we will recognize the final reported financial performance of impacted peer(s) prior to the close of the M&A transaction, with any adjustments as noted above.  The impacted peer(s) ROACE, will then be adjusted by the average change in overall remaining peer group’s performance throughout the Performance Period.
Average adjusted Bancorp common shareholders’ equity shall be determined based upon reported financial results for each of the three fiscal years during the Performance Period, adjusted to exclude accumulated other comprehensive income.
At the end of the three-year Performance Period, the percentile rank for ROACE will be determined based on cumulative adjusted results for Fifth Third Bancorp and the peer institutions above. The performance level payout will be determined according to the payout grid below.
Prior to payment, the Committee will certify the results achieved and will retain the ability to reduce the payout percentage at its discretion.

Efficiency Ratio
Efficiency Ratio is cumulative adjusted non-interest expense for the Performance Period divided by the cumulative adjusted revenue for such period based on reported financial results. The revenue adjustments exclude the same items as ROACE over the Performance Period. The Efficiency Ratio Performance Goal acts as a threshold goal and is applied following the end of the Performance Period.
The Efficiency Ratio Performance Goal works such that regardless of the percentage payout determined by the ROACE calculation, in order for the payout percentage to be above 100%, the average annual Efficiency Ratio during the Performance Period must be less than 65%. If the Committee certifies that average Efficiency Ratio during the Performance Period is higher than 65%, the maximum payout percentage for performance shares will be 100%.
For example: If Fifth Third Bancorp’s three-year cumulative ROACE performance places Fifth Third in the 60th percentile among peer banks and the Efficiency Ratio is less than 65%, the 2022 performance  share award will payout at 120%. In this example, if Efficiency Ratio was higher than 65%, payout would be capped at 100%.

Payout Grid
In 2020, the payout calculation was changed from a stack rank payout to a linear payout based on percentile rank performance vs. peers.

															
	Percentile Rank	Payout Percentage			
	100%	150%			
	90%	150%			
	80%	150%			Percentile Rank
	70%	140%		    Threshold
    60% Payout
	30%
	60%	120%	
	50%	100%		    Target
    100% Payout
	50%
	40%	80%	
	30%	60%		    Maximum
   150% Payout
	80%
	20%	0%	
	10%	0%			
	0%	0%			
					

															
		Payout Example		
		Assumptions	Example 1	Example 2
		ROACE Percentile Rank	60th
	60th 

		Efficiency Ratio	62%	67%
		Payout	120%	100%
					

Performance Shares Earned
Following the end of the Performance Period, the Committee shall determine the level of ROACE, ROTCE and Efficiency Ratio achieved during the Performance Period and will certify results as such. The actual number of Performance Shares earned, if any, will be determined by multiplying the participant’s number of granted Performance Shares by the percentage payout result according to the ROACE payout grid reduced as appropriate by the Efficiency Ratio.
The number of performance shares that will be earned are subject to additional performance- based vesting provisions discussed in the “Additional Information for all Types of LTI” section. It is possible earned shares can be further reduced for failure to meet these additional provisions.
Except as otherwise provided herein, participants must be employed by Fifth Third on the distribution date in order to earn any Performance Shares.
Distribution
Participants shall receive a number of shares of Fifth Third Bancorp stock equal to the number of Performance Shares earned within 70 days following the end of the Performance Period (or, if later, the date on the which it has been determined the extent to which the Performance Goals have been met). It is expected that the Committee will certify performance for Performance Shares in February 2025. The distribution of stock shall be net of any applicable  taxes that Fifth Third is required to withhold. The Plan Administrator shall reduce an appropriate portion of the Fifth Third stock otherwise distributable to a participant to satisfy the withholding lability.

Please note that at this time the IRS allows employers to withhold only a statutory minimum amount of taxes. Tax withholding rates cannot be increased.
Dividend Equivalents
The 2021 performance share grant will earn dividend equivalent payments on performance shares each time a dividend is declared (typically quarterly). The amount of the dividend equivalents earned will be determined by multiplying a participant’s number of unvested Performance Shares by the stated dividend amount. Dividend equivalents will be accrued in cash and will be paid out when the underlying Performance Shares are earned and distributed.
Until distribution, any calculated dividends will be attached to the underlying Performance Share grant and viewable on the Fidelity website. When the shares are earned and approved for distribution, all accrued cash dividends attached to the shares will be adjusted according to the percent payout achieved and then will be paid in cash, net of any applicable taxes, through Fifth Third Payroll.
Impact of Termination
Except as otherwise provided below or in the Award Agreement, if the employment or service of a participant terminates for any reason other than death, Disability, Retirement, or in the Company’s judgment and sole discretion that the termination is involuntary without Cause or voluntary for Good Reason, as defined in “Additional Information for All Types of LTI”, after the Performance Period but prior to distribution date, all Performance Shares shall be forfeited and no payment shall be made with respect thereto.
Participants who terminate employment during the Performance Period due to death or Disability as defined in “Additional Information for All Types of LTI”  shall earn Performance Shares determined by: (i) multiplying the participant’s number of Performance Shares granted by the appropriate percentage payout set forth in the Performance Level grid, calculated using the most recently reported financial results (reduced as needed by the Efficiency Ratio threshold and any portion forfeited due to failure to meet ROTCE and Risk Performance Evaluation Goals).
Participants who Retire, as defined in the “Additional Information for All Types of LTI” section below, or whose employment is terminating involuntarily without Cause or voluntarily for Good Reason, shall continue to be eligible to receive Performance Shares as set forth in Performance Shares Earned section above as if the participant remained employed through the distribution date; provided however, that following leaving the bank, participant’s Performance Shares shall not be subject to forfeiture based upon a Risk Performance Evaluation  rating for any full calendar year in which participant did not work through Dec. 31.

2022 Restricted Stock Units
Restricted Stock Units – An Overview
A Restricted Stock Unit (RSU) granted pursuant to the Plan is a long-term incentive vehicle that gives a participant a conditional right to Fifth Third Bancorp common stock following a multi-year vesting period. The units are considered “restricted” or “conditional” until they vest.
Restricted Stock Unit Vesting (also referred to as “Distribution”)
On the anniversary of the grant date over a three-year vesting period, one-third of the Restricted Stock Unit grant will vest. On the vesting date (or, “distribution date”), one-third of the granted units convert to Fifth Third Bancorp common stock and shares are issued and registered in each participant’s name by the Bancorp. These shares are delivered to the participant’s Fidelity Brokerage Account  net  of   any applicable taxes that  Fifth Third is required to withhold. The Plan Administrator shall reduce an appropriate portion of the Fifth Third stock otherwise distributable to satisfy the withholding liability unless an election is made on Fidelity’s website to pay the tax obligations with cash available in the participant’s Fidelity brokerage account. If the cash election is chosen, there must be enough cash in the brokerage account to cover the entire tax obligation owed one full week before the vest date. Please note that at this time the IRS allows employers to withhold only statutory minimum amount of taxes. Tax withholding rates cannot be increased.
The number of RSUs that vest each year are subject to additional performance-based vesting provisions discussed in the “Additional Information for All Types of LTI” section.
Dividend Equivalents
Dividend equivalents will be earned each time a dividend is declared (typically quarterly). The amount of the dividend equivalents earned will be determined by multiplying a participant’s number of unvested RSUs by the stated dividend amount. The 2022 RSU grant dividend equivalents will be accrued in cash and will be paid out when the underlying RSUs are earned and distributed.
Until distribution, any calculated dividends will be attached to the underlying RSUs and viewable on the Fidelity website. When the shares are earned and approved for distribution, all accrued cash dividends attached to the shares will be paid in cash, net of any applicable taxes, to your Fidelity brokerage account.
Impact of Termination
Except as otherwise provided below or in the Award Agreement, if the employment or service of a participant terminates for any reason other than death, Disability, Retirement or in the Company’s judgment and sole discretion that the termination is involuntary without Cause or voluntary for Good Reason, as defined in “Additional Information for All Types of LTI”, all unvested Restricted Stock Units shall be forfeited and no distribution shall be made with respect thereto.
Participants who terminate employment due to Death or Disability as defined in “Additional Information for All Types of LTI”, shall immediately vest in all unvested Restricted Stock Units upon death of disability. Distribution of the shares of Fifth Third Common Stock will be made following such date.
Participants who Retire or whose employment is terminated without Cause or voluntarily for Good Reason as defined in “Additional Information for All Types of LTI”, shall continue to vest in Restricted Stock Units and distribution of shares of Fifth Third common stock shall be made on the applicable annual vesting dates.

2022 Stock Appreciation Rights
Stock Appreciation Rights – An Overview
A Stock Appreciation Right Award (SAR) is a long-term incentive vehicle granted pursuant to the Plan that gives a Participant a conditional right to receive Fifth Third common stock of a value equal to any appreciation in the value of Fifth Third common stock between the Grant Date of the award and the date the Stock Appreciation Right is exercised following vesting.
Stock Appreciation Rights Vesting
Stock Appreciation Rights will vest in equal installments over the multi-year period set forth in the Award Agreement. Stock Appreciation Rights granted in February 2022 will vest in one-third increments over three years.
The number of SARs that vest each year are subject to additional performance-based vesting provisions discussed in the “Additional Information for All Types of LTI” section.
Exercise of Stock Appreciation Rights
Participants holding vested Stock Appreciation Rights may initiate an exercise at netbenefits.fidelity.com indicating the number of Stock Appreciation Rights they would like to exercise. At exercise, stock is received at a value equal to the appreciation of the stock from the grant date to the date the rights are exercised. Stock Appreciation Rights are payable and settled in stock net of any applicable taxes at the time of exercise.

															
	Stock Appreciation Rights: Sample Exercise
	The example at right shows the potential value of your SARs assuming:

•You are granted 1,000 SARs in February 2022.

•The grant price is $30 (fair market value on the date of the grant).

•You are 100% vested in 2025 (1/3 every year).

•You exercise 1,000 SARs when the stock is values at $40 per share.
	Assumptions:	Calculation:
	SARs granted       
          
	1,000	Market Value per share at exercise	$40
	Grant price	$30	Grant Price	$30
	Exercise Date	5/3/2025	Increase in value per share	$10
	Market value per share at exercise	$40	Total gain ($10 * 1,000)	$10,000
	SARs Exercised	1,000	Taxes Withheld (35%)	$3,500
	Tax Rate	35%	Gain net of taxes	$6,500
			Number of shares to employee ($6,500 / $40)	162*

*In the event of fractional shares, the participant will receive cash equivalent to the fractional share value deposited into his/her Fidelity account. The above is for illustration purposes only and not a guarantee of future stock price appreciation

Grant Expiration Date
Each unexercised Stock Appreciation Right shall expire upon the 10th anniversary of its Grant Date set forth in the Award Agreement.
If an expiration date falls on a day where the NASDAQ market is not in session (i.e. over a weekend) the grant will expire at market close on the LAST trading day before the expiration date. Example: the ten-year anniversary date (expiration date) falls on a Saturday; the last day to exercise the SAR would be before market close on the last trading day before the expiration date, Friday.
NOTE: For any SAR that is at least $0.01 “in-the-money” at 4pm EST on the expiration date (i.e. FITB stock price is higher than the exercise price of the grant)”, Fidelity will initiate an automatic exercise of all shares set to expire. This “auto-exercise” feature ensures that any benefit attached to an award at expiration is realized and not lost.
Impact of Termination
Except as otherwise provided herein or in the Award Agreement, if the employment or service of a participant terminates for any reason, a participant shall have 90 days from the separation date to exercise any vested or “exercisable” Stock Appreciation Rights held as of the separation date.
Except as otherwise provided herein or in the Award Agreement, if employment or service of a participant terminates for any reason other than Death, Disability, Retirement,  or in the Company’s judgment and sole discretion that the termination is involuntary without Cause or voluntary for Good Reason, as defined in the “Additional Information for All Types of LTI” section, all unvested Stock Appreciation Rights shall be forfeited and no payment shall be made with respect thereto.
Participants who terminate employment due to Death or Disability as defined in “Additional Information for All Types of LTI”, may immediately exercise all Stock Appreciation Rights granted to participant (whether or not vested and exercisable as of the date of death or disability) on or before the expiration date set forth in the Award Agreement.
Participants who retire, as defined in the “Additional Information for All Types of LTI” section, or whose employment is terminated without cause, shall continue to vest in Stock Appreciation Rights on the applicable vesting dates. Such awards shall be exercisable following the applicable vesting dates until the expiration dates.
How many SARs will I receive?
Each SAR is assigned an economic value based on the stock price at the time of grant, as well as other factors including the term of the SAR, shares available for awards and the volatility of Fifth Third stock. For example, for awards granted in February 2018, the economic value assigned to each SAR was
$11.33. For an individual receiving a long-term incentive award of $100,000, 15 percent of that award ($15,000) was delivered in SARs. The number of SARs representing that $15,000 of value was calculated in this way: $15,000 divided by $11.33 equals 1,324 SARs.

An Overview of Performance Shares, Restricted Stock Units, and Stock Appreciation Rights
The following is an overview of the key characteristics of each

												
	Feature	Performance Shares	Restricted Stock Units	Stock Appreciation Rights
	Definition	A performance share is a long-term incentive compensation vehicle that vests over a multi-year period, and derives value based on an achievement of predetermined long-term performance objectives.	Restricted stock units (RSUs) are equivalent to shares of common stock that cannot be sold until the vesting restrictions lapse.	A stock appreciation right (SAR) is not an actual share of stock but rather the right to receive stock at a value equal to the appreciation of the stock from the grant date to the date the  SAR is exercised.
	Value	The value of the performance shares will be based on the achievement of the performance goals.	The value of the unit equals the stock market’s price.	When you exercised your SARs, you will receive shares equal to the difference between the value at grant and the then current fair market value.
	Vesting	Vesting of performance shares is three years.  The performance period is Jan. 1, 2022 – Dec. 31, 2025	Vesting of your RSUs may vary by grant.  For this annual grant, restricted stock will vest 1/3 per year over three years on the anniversary date of the grant.	Vesting of your SARs may vary by grant, For this annual grant, SARs will vest 1/3 per year over three years on the anniversary date of the grant.
	Grant Price	Not applicable	Not applicable	The closing price of the stock on the date of grant,
	Grant Term	Not applicable	Not applicable	10 years from the date of the grant.
	Dividends	You are eligible to earn dividend equivalents on your unvested performance shares.	You are eligible to earn dividend equivalents on your unvested RSUs.	You are not eligible to earn dividends or dividend equivalents on unexercised SARs.
	Voting Rights	You do not  have voting rights on your performance shares.	You do not have voting rights on your unvested RSUs.	You do not have voting rights on your SARs.
	Taxation	You are subject to tax on the market value of the award at the end of the performance period.  Accumulated dividend equivalents will be subject to ordinary income tax.  Taxes are reflected on your pay statements and W-2.	You are subject to tax on the market value of the award at the vesting date.  Accumulated dividend equivalents will be subject to ordinary income tax.  Taxes are reflected on your pay statements and W-2.	You are subject to tax on the increase in value between the grant date and the date on which you exercise your SAs.  Taxes are reflected on your pay statements and W-2.
	Transactions*
	Upon vesting, you can:
•Hold the shares.
•Sell the shares.
•Transfer the shares.
	Upon vesting, you can:
•Hold the shares.
•Sell the shares.
•Transfer the shares.
	Upon vesting, you can.
•Exercise the SARs prior to expiration.
•Hold, sell, or transfer any shares that are paid to you as stock.

	*subject to insider trading restrictions, market conditions, and the stock ownership policy

Additional Information for All Types of LTI
Grant Notification and Accepting your Award
Managers will communicate an award amount. Awards will be housed at Fidelity Investments. Once an LTI award is viewable on the Fidelity website, participants will receive an internal email communication containing a link to accept the award. This email will contain instructions for navigating the Fidelity website; www.netbenefits.fidelity.com. Awards must be accepted by following the instructions contained within that email within six weeks of the email date.
Performance-based Vesting Applicable to RSUs and SARs
Adjusted Return on Tangible Common Equity (ROTCE)
ROTCE means the adjusted return on tangible common equity of Fifth Third Bancorp. Returns are calculated as cumulative adjusted net income available to common shareholders for the three fiscal years during the Performance Period divided by average tangible common equity (TCE). TCE is calculated as the weighted average sum of reported average Bancorp shareholder’s equity less average preferred stock, goodwill, and intangible assets, other servicing rights (excluding mortgage servicing rights) and accumulated other comprehensive income for each of the three fiscal years during the Performance Period.
Adjusted net income available to common shareholders shall be determined based upon reported financial results for each of the three fiscal years during the Performance Period, adjusted for the following items:
•changes in tax laws, generally accepted accounting principles, or other laws or provisions affecting reported results
•significant legal and regulatory settlements
•asset write-downs, write-offs, dispositions, or sales (except Worldpay  investments) resulting from a change in business strategy
•mark-to-market impacts on the Visa swap and gains associated with the redemption or sale of Visa shares
•merger-related, restructuring, early debt extinguishment, and other-than-temporary impairment charges
•gains or losses on securities
To the extent possible, the Committee also makes similar adjustments to the reported performance of peer group members.
ROTCE (determined in the same manner for all award types) for Fifth Third Bancorp for the fiscal year ending immediately prior to the anniversary date of the grant must meet or exceed 2 percent. If the ROTCE threshold is not met in any one of the three years during the vesting period (2022, 2023, 2024), one-third of the Performance Share grant will be forfeited and one-third of the RSU and the SAR grants may be forfeited at the Committee discretion. In addition, the Committee has discretion to forfeit up to 100 percent of all unvested grants of any type.

Individual Annual Risk Performance Evaluation
The vesting of LTI is also subject to an individual risk management performance vesting condition. A participant’s individual Annual Risk Performance Evaluation is completed by the chief risk officer of Fifth Third Bancorp. For any fiscal year ending during the vesting period for which a Participant receives a rating less than “Achieves” on the annual Risk Performance Evaluation,  the Committee has the discretion on an individual case-by-case basis to forfeit up to 100 percent of the Performance Shares, and unvested RSUs and SARs. In making its decision, the Committee will take into consideration the magnitude of the event and the accountability level of the participant.
Designation of a Beneficiary
Beneficiaries must be designated at Fidelity which allows a person or persons to receive any rights to which you would be entitled under the Long-Term Incentive Plan and all of the proceeds of your Fidelity brokerage account, including vested Fifth Third shares, in the event of your death. If you choose not to designate a beneficiary, your estate shall be deemed to be the beneficiary. To designate a beneficiary at Fidelity, log onto your account at Fidelity.com > Customer Service > Update Your Profile > Beneficiaries. Then, complete the steps that follow.
Non-Transferability
LTI awards may not be assigned, transferred or pledged in any manner, and may be exercised only by a Participant during his or her lifetime. In the event of a participant’s death, the beneficiary (or if none, the estate) shall have the right to exercise any stock appreciation rights or sell any restricted stock held by the participant at death in accordance with Plan terms.
Retirement
Retirement means termination of employment as a Fifth Third employee by a participant who is at least 55 years of age, who also has completed five or more years of consecutive service, and for whom the combination of age and years of service is greater than or equal to 65.
NOTE: For the purposes of Stock Appreciation Rights; anyone meeting age 50 with five or more years of consecutive service, and for whom the combination of age and years of service is greater than or equal to 60, will be able to retain their VESTED stock appreciation rights for the full remaining term of the grant.
Impact of Awards on Other Terms and Conditions of Employment
The granting of an award is at the sole discretion of Fifth Third. Fifth Third is not obligated to make any award or permit any award to be made in the future. Nothing in these awards constitutes an obligation or guarantee with respect to the value of any award.
By accepting a grant agreement, you will be accepting and entering into the Confidential Information and Non- Solicitation Agreement attached to your grant agreement. Please be sure to read and understand this agreement prior to accepting your award.

Finding the Plans
A general description of the tax effect of this award is included in the prospectus for Fifth Third’s equity compensation plans. You can locate the 2021 Incentive Compensation Plan and the 2021 Incentive Compensation Plan Prospectus by logging on to your Fidelity account at www.netbenefits.fidelity.com.
Defined Terms

Whenever used in the LTI Plan Overview, the following capitalized terms shall have the meanings set forth below

 “Cause” means any of the following as determined by the Company:
•The Participant has committed a felony or an intentional act of gross misconduct, moral turpitude, fraud, embezzlement or theft;

•The Company or any subsidiary has been ordered or directed by any federal or state regulatory agency with jurisdiction to terminate or suspend the Participant’s employment, and such order or directive has not been vacated or reversed upon appeal; or

•After being notified in writing by the Company to cease any particular Competitive Activity (as defined in the CIC Severance Plan), the Participant continues such Competitive Activity and the Company has determined that such act is materially harmful to the Company and/or any affiliate.

“Good Reason” means the occurrence of any one or more of the following without the Participant’s written consent:

•a material diminution in the Participant’s authority, duties or responsibilities (other than those which occur in connection with the Company’s succession planning, as determined by the Company in its sole discretion), provided that in no event shall the fact of a Participant ceasing to serve on the Enterprise Committee in and of itself constitute Good Reason;

•a material diminution by the Company in the Participant’s base compensation;
•a material (at least 50 miles) change in the geographic location in which the executive must perform services; or
•any other action or inaction that constitutes a material breach by the Company of the Plan.

“Disability” means totally and permanently disabled as from time to time defined under the Long-Term Disability Plan of the Company or a Subsidiary applicable to Employee, or in the case where there is no applicable plan, permanent and total disability as defined in Section 22(e)(3) of the Code (or any successor Section); provided, however, that to the extent an amount payable under this Plan which constitutes deferred compensation subject to Section 409A the Code would become payable upon Disability. “Disability” for purposes of such payment shall not be deemed to have occurred unless the disability also satisfies the requirements of Treasury Regulation Section 1.409A-3.

“Retire” or “Retirement” means separation from service as an Employee, Director or Consultant for any reason (other than Death, Disability, Involuntary Without Cause, or under circumstances determined by the Company or a Subsidiary to constitute cause) on or after attaining the age and/ or a combination of age and years of service with the Company and/or Subsidiary, if any, provided by the Committee in the applicable Award Agreement or any amendment or modification thereof as constituting “Retirement” for purposes of such Award. Additional information on age requirements is described in the Retirement section above. 

Stock Ownership Guidelines
Stock ownership guidelines for executives were updated in 2021.

						
		
	Executive Level	Multiple of Base Salary
	CEO (Pay Band A)	6x
	Enterprise Executives (Pay Band B)	3x
	Other Section 16 Officers (Pay Band C)	2x
		

Executives designated as Section 16 officers are required to retain 75% of net, after tax shares received from stock appreciation right exercises and restricted stock unit and performance share award vestings until the minimum ownership guidelines are met.  Once these guidelines are met, executives must retain 25% of net, after tax shares until two times their guidelines are met.
Please note that all shares obtained from awards made under any one of Fifth Third’s Incentive Compensation Plans apply to this requirement, regardless of when an individual became an executive or Section 16 officer.
Ownership will include shares owned individually and by immediate family members, restricted stock not yet vested, and shares purchased through the employee stock purchase plan.
Executives have up to five years to achieve the share ownership requirements highlighted above.
Section 16 executive officers are prohibited from engaging in speculative trading or hedging strategies with respect to Fifth Third Bancorp securities. Any hedged shares for non-Section 16 Officers are excluded from the calculation of ownership levels when analyzing progress towards meeting the stock ownership guidelines.

Note: All executive compensation plans, including Long-Term Incentive Compensation Plans, are automatically amended as necessary to comply with requirement and/or limitations under Company police, any laws, rules, regulations, or regulatory agreements up to and including revocation of the award.
-The 2021 shareholder-approved Incentive Compensation Plan governs all awards. This material is an overview for reference.

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