8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 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 21, 2017

(Exact Name of Registrant as Specified in Its Charter)

Ohio

(State or Other Jurisdiction of Incorporation)

001-33653	31-0854434
(Commission File Number)	(IRS Employer Identification No.)
Fifth Third Center 38 Fountain Square Plaza, Cincinnati, Ohio	45263
(Address of Principal Executive Offices)	(Zip Code)

(800) 972-3030

(Registrant’s Telephone Number, Including Area Code)

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 (see General Instruction A.2. below):

☐ 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))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

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 21, 2017, Fifth Third Bancorp issued a press release announcing its earnings release for the second quarter of 2017. A copy of this press release is attached as Exhibits 99.1. This information is furnished under both Item 2.02 Results of Operations and Financial Condition and Item 7.01 Regulation FD Disclosure. The information in this Form 8-K and Exhibits attached hereto shall not be deemed filed for purposes of Section 18 of the Securities Act of 1934, nor shall they be deemed incorporated by reference in any filing under the Securities Act of 1933, except as shall be expressly set forth by specific reference.

Item 7.01 Regulation FD Disclosure

On July 21, 2017, Fifth Third Bancorp issued a press release announcing its earnings release for the second quarter of 2017. A copy of this press release is attached as Exhibits 99.1. This information is furnished under both Item 2.02 Results of Operations and Financial Condition and Item 7.01 Regulation FD Disclosure. The information in this Form 8-K and Exhibits attached hereto shall not be deemed filed for purposes of Section 18 of the Securities Act of 1934, nor shall they be deemed incorporated by reference in any filing under the Securities Act of 1933, except as shall be expressly set forth by specific reference.

For the benefit of its investors, Fifth Third Bancorp is furnishing information regarding its earnings conference call. A copy of this item is attached as Exhibit 99.2. The information in this Form 8-K and Exhibit attached hereto shall not be deemed filed for purposes of Section 18 of the Securities Act of 1934, nor shall they be deemed incorporated by reference in any filing under the Securities Act of 1933, except as shall be expressly set forth by specific reference.

Item 9.01 Financial Statements and Exhibits

Exhibit 99.1 – Press release dated July 21, 2017

Exhibit 99.2 – Second Quarter Earnings Conference Presentation

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.

	FIFTH THIRD BANCORP
	(Registrant)
July 21, 2017	/s/ Tayfun Tuzun
	Tayfun Tuzun
	Executive Vice President and Chief Financial Officer

EX-99.1

Exhibit 99.1

CONTACTS:	Sameer Gokhale (Investors)	News Release
	(513) 534-2219
	Larry Magnesen (Media)	FOR IMMEDIATE RELEASE
	(513) 534-8055	July 21, 2017

FIFTH THIRD ANNOUNCES SECOND QUARTER 2017 NET INCOME TO COMMON SHAREHOLDERS OF $344 MILLION, OR $0.45 PER DILUTED SHARE

• 2Q17 net income available to common shareholders of $344 million, or $0.45 per diluted common share

• Results included a negative $0.01 impact on reported 2Q17 earnings per share resulting from a $9 million pre-tax (~$6 million after-tax)^(a) charge related to the valuation of the Visa total return swap

• Reported net interest income of $939 million; taxable equivalent net interest income of $945 million^(b), up 1% from 1Q17 and up 4% from 2Q16; excluding the 1Q17 card remediation impact, up 2% from 1Q17^(b)

• Taxable equivalent net interest margin of 3.01%^(b), down 1 bp from 1Q17 and up 13 bps from 2Q16; adjusted net interest margin, excluding the 1Q17 card remediation impact, up 3 bps from 1Q17^(b)

• Average portfolio loans and leases of $92.0 billion, flat from 1Q17 and down 2% from 2Q16

• Noninterest income of $564 million, up 8% from 1Q17 and down 6% from 2Q16

• Noninterest expense of $957 million, down 3% from both 1Q17 and 2Q16

• Net charge-offs (NCOs) of $64 million, down $25 million from 1Q17 and down $23 million from 2Q16; NCO ratio of 0.28% compared to 0.40% in 1Q17 and 0.37% in 2Q16

• Portfolio nonperforming asset (NPA) ratio of 0.72% down 7 bps from 1Q17 and down 14 bps from 2Q16

• 2Q17 provision expense of $52 million compared to $74 million in 1Q17 and $91 million in 2Q16

• Common equity Tier 1 (CET1)^(c) ratio of 10.63%; fully phased-in CET1 ratio^(b)(c) of 10.52%

• Tangible common equity ratio of 9.12%^(b); 9.02% excluding unrealized gains/losses^(b)

• Book value per share of $20.42 up 1% from 1Q17 and up 2% from 2Q16; tangible book value per share^(b) of $17.11 up 1% from both 1Q17 and 2Q16

Fifth Third Bancorp (Nasdaq: FITB) today reported second quarter 2017 net income of $367 million versus net income of $305 million in the first quarter of 2017 and $328 million in the second quarter of 2016. After preferred dividends, net income available to common shareholders was $344 million, or $0.45 per diluted share, in the second quarter of 2017, compared with $290 million, or $0.38 per diluted share, in the first quarter of 2017, and $305 million, or $0.39 per diluted share, in the second quarter of 2016.

Second quarter 2017 included:

Income

• ($9 million) charge related to the valuation of the Visa total return swap

First quarter 2017 included:

Income

• $12 million benefit related to the revision to the 4Q16 estimated charge to net interest income for refunds to certain bankcard customers

• ($13 million) charge related to the valuation of the Visa total return swap

Second quarter 2016 included:

Income

• $19 million positive valuation adjustment on the Vantiv warrant

• $11 million gain on sale of Pennsylvania branches as part of the previously announced branch consolidation and sales plan

• $11 million gain on the sale of the non-strategic agented bankcard loan portfolio

• ($50 million) charge related to the valuation of the Visa total return swap, primarily reflecting the rejection of the merchant litigation settlement

Expenses

• ($9 million) in compensation-related expenses due to retirement eligibility changes

2

Earnings Highlights

	For the Three Months Ended										% Change
	June 2017		March 2017		December 2016		September 2016(d)		June 2016(d)		Seq		Yr/Yr
Earnings ($ in millions)
Net income attributable to Bancorp	$	367	$	305	$	395	$	516	$	328		20%		12%
Net income available to common shareholders	$	344	$	290	$	372	$	501	$	305		19%		13%
Common Share Data
Earnings per share, basic	$	0.46	$	0.38	$	0.49	$	0.66	$	0.40		21%		15%
Earnings per share, diluted		0.45		0.38		0.49		0.65		0.39		18%		15%
Cash dividends per common share		0.14		0.14		0.14		0.13		0.13		—		8%
Common shares outstanding (in thousands)		738,873		750,145		750,479		755,582		766,346		(2%)		(4%)
Average common shares outstanding (in thousands):
Basic		741,401		747,668		746,367		750,886		759,105		(1%)		(2%)
Diluted		752,328		760,809		757,704		757,856		764,811		(1%)		(2%)
Financial Ratios												bps Change
Return on average assets		1.05%		0.88%		1.11%		1.44%		0.92%		17		13
Return on average common equity		9.0		7.8		9.7		12.8		8.0		120		100
Return on average tangible common equity(b)		10.7		9.3		11.6		15.2		9.6		140		110
CET1 capital(c)		10.63		10.76		10.39		10.17		9.94		(13)		69
Tier I risk-based capital(c)		11.76		11.90		11.50		11.27		11.03		(14)		73
CET1 capital (fully-phased in)(b)(c)		10.52		10.66		10.29		10.09		9.86		(14)		66
Net interest margin (taxable equivalent)(b)		3.01		3.02		2.86		2.88		2.88		(1)		13
Efficiency (taxable equivalent)(b)		63.4		67.4		62.8		55.5		65.3		(400)		(190)

“The strength of our second quarter performance reflects our continued discipline with respect to expenses, credit quality, and balance sheet management. We are very encouraged by the improvement in all of our return metrics including our ROA and ROTCE both sequentially as well as year over year,” said Greg D. Carmichael, President and CEO of Fifth Third Bancorp.

“The recently announced CCAR results provide further proof of our commitment to our shareholders. Over the next four quarters we expect to return a significant amount of capital to our shareholders based on our strong capital position, the improved risk profile of our balance sheet and our strong internal capital generation capacity. As previously announced, we expect to do so through dividend increases along with a sizeable increase in capital deployed for share repurchases.”

3

Income Statement Highlights    

($ in millions, except per-share data)	For the Three Months Ended										% Change
	June 2017		March 2017		December 2016		September 2016(d)		June 2016(d)		Seq		Yr/Yr
Condensed Statements of Income
Net interest income (taxable equivalent)(b)	$	945	$	939	$	909	$	913	$	908		1%		4%
Provision for loan and lease losses		52		74		54		80		91		(30%)		(43%)
Total noninterest income		564		523		620		840		599		8%		(6%)
Total noninterest expense		957		986		960		973		983		(3%)		(3%)
Income before income taxes (taxable equivalent)(b)	$	500	$	402	$	515	$	700	$	433		24%		15%
Taxable equivalent adjustment		6		6		6		6		6		—		—
Applicable income tax expense		127		91		114		178		103		40%		23%
Net income	$	367	$	305	$	395	$	516	$	324		20%		13%
Less: Net income attributable to noncontrolling interests		—		—		—		—		(4)		—		(100%)
Net income attributable to Bancorp	$	367	$	305	$	395	$	516	$	328		20%		12%
Dividends on preferred stock		23		15		23		15		23		53%		—
Net income available to common shareholders	$	344	$	290	$	372	$	501	$	305		19%		13%
Earnings per share, diluted	$	0.45	$	0.38	$	0.49	$	0.65	$	0.39		18%		15%

4

Net Interest Income

(Taxable equivalent basis; $ in millions)(b)	For the Three Months Ended										% Change
	June 2017		March 2017		December 2016		September 2016		June 2016		Seq		Yr/Yr
Interest Income
Total interest income	$	1,112	$	1,092	$	1,058	$	1,063	$	1,052		2%		6%
Total interest expense		167		153		149		150		144		9%		16%
Net interest income	$	945	$	939	$	909	$	913	$	908		1%		4%
Average Yield											bps Change
Yield on interest-earning assets		3.54%		3.51%		3.33%		3.36%		3.34%		3		20
Rate paid on interest-bearing liabilities		0.79%		0.73%		0.70%		0.70%		0.67%		6		12
Net interest rate spread		2.75%		2.78%		2.63%		2.66%		2.67%		(3)		8
Net interest margin		3.01%		3.02%		2.86%		2.88%		2.88%		(1)		13
Average Balances											% Change
Loans and leases, including held for sale	$	92,653	$	92,791	$	93,981	$	94,417	$	94,807		—		(2%)
Total securities and other short-term investments		33,481		33,177		32,567		31,675		32,040		1%		4%
Total interest-earning assets		126,134		125,968		126,548		126,092		126,847		—		(1%)
Total interest-bearing liabilities		85,320		84,890		84,552		85,193		86,145		1%		(1%)
Bancorp shareholders’ equity(d)		16,615		16,429		16,545		16,883		16,584		1%		—

Net interest income for the first quarter of 2017 included the $12 million reversal of a previously-estimated charge for refunds to certain bankcard customers. Excluding the impact of this item, taxable equivalent net interest income in the second quarter of 2017 was up $18 million sequentially, reflecting the impact of higher short-term market rates during the quarter and a higher day count. The taxable equivalent net interest margin was 3.01 percent, up 3 bps from the prior quarter’s adjusted net interest margin, primarily driven by higher short-term market rates, partially offset by a higher day count.

Compared to the second quarter of 2016, taxable equivalent net interest income was up 4 percent, primarily driven by higher short-term market rates. The net interest margin was up 13 bps from the second quarter of 2016, also primarily driven by higher short-term market rates.

Securities

Average securities and other short-term investments were $33.5 billion in the second quarter of 2017 compared to $33.2 billion in the previous quarter and $32.0 billion in the second quarter of 2016. Average other short-term investments were stable sequentially at $1.3 billion.

5

Loans

($ in millions)	For the Three Months Ended										% Change
	June		March		December		September		June
	2017		2017		2016		2016		2016		Seq		Yr/Yr
Average Portfolio Loans and Leases
Commercial:
Commercial and industrial loans	$	41,601	$	41,854	$	42,548	$	43,116	$	43,876		(1%)		(5%)
Commercial mortgage loans		6,845		6,941		6,957		6,888		6,831		(1%)		—
Commercial construction loans		4,306		3,987		3,890		3,848		3,551		8%		21%
Commercial leases		4,036		3,901		3,921		3,962		3,898		3%		4%
Total commercial loans and leases	$	56,788	$	56,683	$	57,316	$	57,814	$	58,156		—		(2%)
Consumer:
Residential mortgage loans	$	15,417	$	15,200	$	14,854	$	14,455	$	14,046		1%		10%
Home equity		7,385		7,581		7,779		7,918		8,054		(3%)		(8%)
Automobile loans		9,410		9,786		10,162		10,508		10,887		(4%)		(14%)
Credit card		2,080		2,141		2,180		2,165		2,134		(3%)		(3%)
Other consumer loans and leases		892		755		673		651		654		18%		36%
Total consumer loans and leases	$	35,184	$	35,463	$	35,648	$	35,697	$	35,775		(1%)		(2%)
Total average portfolio loans and leases	$	91,972	$	92,146	$	92,964	$	93,511	$	93,931		—		(2%)
Average loans held for sale	$	681	$	645	$	1,017	$	906	$	876		6%		(22%)

Average portfolio loan and lease balances were flat sequentially and decreased $2.0 billion, or 2 percent, from the second quarter of 2016. The year-over-year decrease was primarily driven by declines in commercial and industrial (C&I) and automobile loans. The year-over-year decline in C&I loans was primarily due to deliberate exits from certain C&I loans that did not meet risk-adjusted profitability targets. The year-over-year decline in automobile loans continues to reflect our decision to reduce lower-return originations to improve returns on capital. Period end portfolio loans and leases of $91.4 billion, were also flat sequentially, and decreased $2.5 billion, or 3 percent, from a year ago. On a year-over-year basis, the decrease in period end loan balances was primarily due to declines in C&I and automobile loans, partially offset by increases in residential mortgage and commercial construction loans.

Average commercial portfolio loan and lease balances were flat sequentially, and decreased $1.4 billion, or 2 percent, from the second quarter of 2016. Average C&I loans decreased $253 million, or 1 percent, from the prior quarter and decreased $2.3 billion, or 5 percent, from the second quarter of 2016. The decline in C&I loans was primarily due to the aforementioned deliberate exits. Average commercial real estate loans increased $223 million, or 2 percent, from the prior quarter and increased $769 million, or 7 percent, from the second quarter of 2016. Within commercial real estate, average commercial mortgage balances decreased $96 million and average commercial construction balances increased $319 million sequentially. Period end commercial line utilization of 34 percent was flat from the first quarter of 2017 and decreased 1 percent from the second quarter of 2016.

Average consumer portfolio loan and lease balances decreased $279 million, or 1 percent, sequentially and decreased $591 million, or 2 percent, from the second quarter of 2016. This was primarily driven by average automobile loans which decreased 4 percent sequentially and 14 percent from a year ago. Average residential mortgage loans increased 1 percent sequentially and 10 percent from the previous year. Average home equity loans decreased 3 percent sequentially and 8 percent from the second quarter of 2016. Average credit card loans decreased 3 percent sequentially and from the second quarter of 2016.

6

Deposits

($ in millions)	For the Three Months Ended										% Change
	June		March		December		September		June
	2017		2017		2016		2016		2016		Seq		Yr/Yr
Average Deposits
Demand	$	34,915	$	35,084	$	36,412	$	35,918	$	35,912		—		(3%)
Interest checking		26,014		26,760		25,644		24,475		24,714		(3%)		5%
Savings		14,238		14,117		13,979		14,232		14,576		1%		(2%)
Money market		20,278		20,603		20,476		19,706		19,243		(2%)		5%
Foreign office(e)		380		454		497		524		484		(16%)		(21%)
Total transaction deposits	$	95,825	$	97,018	$	97,008	$	94,855	$	94,929		(1%)		1%
Other time		3,745		3,827		3,941		4,020		4,044		(2%)		(7%)
Total core deposits	$	99,570	$	100,845	$	100,949	$	98,875	$	98,973		(1%)		1%
Certificates - $100,000 and over		2,623		2,579		2,539		2,768		2,819		2%		(7%)
Other		264		162		115		749		467		63%		(43%)
Total average deposits	$	102,457	$	103,586	$	103,603	$	102,392	$	102,259		(1%)		—

Average core deposits decreased $1.3 billion, or 1 percent, sequentially and increased $597 million, or 1 percent, from the second quarter of 2016. Average transaction deposits decreased $1.2 billion, or 1 percent, sequentially and increased $896 million, or 1 percent, from the second quarter of 2016. Sequential performance was primarily driven by decreases in commercial demand deposit account balances and money market account balances, partially offset by higher consumer money market account balances and demand deposit account balances. The year-over-year increase was primarily driven by higher interest checking and consumer money market account balances, partially offset by lower demand deposit account balances. Other time deposits decreased by 2 percent sequentially and 7 percent year-over-year.

Average total commercial transaction deposits of $42 billion decreased 5 percent sequentially and 4 percent from the second quarter of 2016. Average total consumer transaction deposits of $54 billion increased 2 percent sequentially and increased 5 percent from the second quarter of 2016.

7

Wholesale Funding

($ in millions)	For the Three Months Ended										% Change
	June 2017		March 2017		December 2016		September 2016		June 2016		Seq		Yr/Yr
Average Wholesale Funding
Certificates - $100,000 and over	$	2,623	$	2,579	$	2,539	$	2,768	$	2,819		2%		(7%)
Other deposits		264		162		115		749		467		63%		(43%)
Federal funds purchased		311		639		280		446		693		(51%)		(55%)
Other short-term borrowings		4,194		1,893		1,908		2,171		3,754		NM		12%
Long-term debt		13,273		13,856		15,173		16,102		15,351		(4%)		(14%)
Total average wholesale funding	$	20,665	$	19,129	$	20,015	$	22,236	$	23,084		8%		(10%)

Average wholesale funding of $20.7 billion increased $1.5 billion, or 8 percent, sequentially and decreased $2.4 billion, or 10 percent, compared with the second quarter of 2016. The sequential increase in average wholesale funding was primarily driven by an increase in short-term borrowings to offset a decline in core deposits. The year-over-year decrease in wholesale funding was primarily driven by lower long-term debt balances in response to declining asset balances.

Noninterest Income

($ in millions)	For the Three Months Ended										% Change
	June 2017		March 2017		December 2016		September 2016		June 2016		Seq		Yr/Yr
Noninterest Income
Service charges on deposits	$	139	$	138	$	141	$	143	$	138		1%		1%
Corporate banking revenue		101		74		101		111		117		36%		(14%)
Mortgage banking net revenue		55		52		65		66		75		6%		(27%)
Wealth and asset management revenue		103		108		100		101		101		(5%)		2%
Card and processing revenue		79		74		79		79		82		7%		(4%)
Other noninterest income		85		77		137		336		80		10%		6%
Securities gains (losses), net		—		—		(3)		4		6		—		(100%)
Securities gains, net - non-qualifying hedges on mortgage servicing rights		2		—		—		—		—		100%		100%
Total noninterest income	$	564	$	523	$	620	$	840	$	599		8%		(6%)

Noninterest income of $564 million increased $41 million sequentially and decreased $35 million compared with prior year results. The sequential and year-over-year comparisons reflect the impacts described below.

8

Noninterest Income excluding certain items

($ in millions)	For the Three Months Ended						% Change
	June 2017		March 2017		June 2016		Seq		Yr/Yr
Noninterest Income excluding certain items
Noninterest income (U.S. GAAP)	$	564	$	523	$	599
Valuation of Visa total return swap		9		13		50
Vantiv warrant valuation		—		—		(19)
Gain on sale of certain branches		—		—		(11)
Gain on sale of the non-strategic agented bankcard loan portfolio		—		—		(11)
Securities (gains) / losses		—		—		(6)
Securities gains, net - non-qualifying hedges on mortgage servicing rights		(2)		—		—
Noninterest income excluding certain items(b)	$	571	$	536	$	602		7%		(5%)

Excluding the items in the table above, noninterest income of $571 million increased $35 million, or 7 percent, from the previous quarter and decreased $31 million, or 5 percent, from the second quarter of 2016. The sequential increase was primarily due to increases in corporate banking revenue and other noninterest income, partially offset by a decrease in wealth and asset management revenue from the seasonally strong first quarter of 2017. The year-over-year decrease was driven by declines in mortgage banking net revenue and corporate banking revenue.

Corporate banking revenue of $101 million increased 36 percent sequentially and decreased 14 percent from the second quarter of 2016. The sequential increase reflected a $31 million lease remarketing impairment related to an oilfield services exposure in the first quarter of 2017. Excluding this impairment, corporate banking revenue decreased 4 percent sequentially, primarily driven by a decline in institutional sales revenue and foreign exchange revenue, partially offset by increases in other corporate banking revenue. The year-over-year decrease was primarily driven by a decline in foreign exchange fees and loan syndication revenue, partially offset by an increase in lease remarketing fees.

Mortgage banking net revenue was $55 million in the second quarter of 2017, up $3 million from the first quarter of 2017 and down $20 million from the second quarter of 2016. Originations of $2.3 billion in the current quarter increased 17 percent sequentially and decreased 16 percent from the second quarter of 2016. Second quarter 2017 originations resulted in $37 million of origination fees and gains on loan sales, compared with $29 million during the previous quarter and $54 million during the second quarter of 2016. Net mortgage servicing revenue (which consists of gross mortgage servicing fees, MSR decay/amortization, net valuation adjustments on MSRs and mark-to-market adjustments on free-standing off-balance sheet derivatives used to economically hedge the MSR portfolio) was $18 million this quarter, $23 million in the first quarter of 2017, and $21 million in the second quarter of 2016. Gross mortgage servicing fees were $49 million this quarter, $47 million in the first quarter of 2017, and $50 million in the second quarter of 2016. MSR decay/amortization was $30 million this quarter, $27 million in the first quarter of 2017, and $35 million in the second quarter of 2016. Net servicing asset valuation adjustments resulted in a negative $1 million impact in the second quarter of 2017, positive $3 million in the first quarter of 2017, and positive $6 million in the second quarter of 2016.

Wealth and asset management revenue of $103 million decreased 5 percent from the first quarter of 2017 and increased 2 percent from the second quarter of 2016. The sequential decrease was primarily driven by seasonally lower tax-related private client services revenue, partially offset by higher personal asset management revenue. The year-over-year increase was primarily driven by higher personal asset management and brokerage revenue.

9

Card and processing revenue of $79 million in the second quarter of 2017 increased 7 percent sequentially and decreased 4 percent from the second quarter of 2016. The sequential increase reflected an increase in customer transactions and spend volume. The year-over-year decrease was impacted by higher rewards in the second quarter of 2017.

Other noninterest income totaled $85 million in the second quarter of 2017, compared with $77 million in the previous quarter and $80 million in the second quarter of 2016. The reported results included the valuation of the Visa total return swap, Vantiv-related adjustments, and other items as shown in the table on page 9. For the second quarter of 2017, excluding these items, other noninterest income of $94 million increased approximately $4 million, or 4 percent, from the first quarter of 2017 and increased $5 million, or 6 percent, from the second quarter of 2016.

Net gains/losses on investment securities were immaterial in the second quarter of 2017 and first quarter of 2017, compared with a $6 million net gain in the second quarter of 2016. Net gains on securities held as non-qualifying hedges for the MSR portfolio were $2 million in the second quarter of 2017.

Noninterest Expense

($ in millions)	For the Three Months Ended										% Change
	June 2017		March 2017		December 2016		September 2016		June 2016		Seq		Yr/Yr
Noninterest Expense
Salaries, wages and incentives	$	397	$	411	$	403	$	400	$	407		(3%)		(2%)
Employee benefits		86		111		76		78		85		(23%)		1%
Net occupancy expense		70		78		73		73		75		(10%)		(7%)
Technology and communications		57		58		56		62		60		(2%)		(5%)
Equipment expense		29		28		29		29		30		4%		(3%)
Card and processing expense		33		30		31		30		37		10%		(11%)
Other noninterest expense		285		270		292		301		289		6%		(1%)
Total noninterest expense	$	957	$	986	$	960	$	973	$	983		(3%)		(3%)

Noninterest expense of $957 million decreased $29 million, or 3 percent, compared with the first quarter of 2017 and decreased $26 million, or 3 percent, compared with the second quarter of 2016. The sequential decrease was driven by lower compensation-related expenses, primarily attributed to lower long-term incentive compensation expense and seasonally lower FICA expense, as well as lower occupancy expense. The sequential improvement was partially offset by higher other noninterest expense, primarily due to higher marketing expense associated with the new brand campaign. The year-over-year decrease was driven by lower compensation-related expenses, lower occupancy expense, and lower card and processing expense predominantly due to contract renegotiations. As previously disclosed, both the sequential and year-over-year comparisons were impacted by $18 million in long-term incentive compensation expense recognized in the first quarter of 2017 that would have otherwise been recognized in the second quarter. This was due to a change in the grant date for employee share-based compensation.

10

Credit Quality

($ in millions)	For the Three Months Ended
	June 2017		March 2017		December 2016		September 2016		June 2016
Total net losses charged-off
Commercial and industrial loans		($18)		($36)		($25)		($61)		($39)
Commercial mortgage loans		(5)		(5)		(2)		(2)		(6)
Commercial construction loans		—		—		—		—		—
Commercial leases		(1)		(1)		(1)		—		(1)
Residential mortgage loans		(2)		(5)		(2)		(2)		(2)
Home equity		(5)		(6)		(6)		(7)		(6)
Automobile loans		(6)		(11)		(11)		(9)		(8)
Credit card		(22)		(22)		(19)		(20)		(21)
Other consumer loans and leases		(5)		(3)		(7)		(6)		(4)
Total net losses charged-off		($64)		($89)		($73)		($107)		($87)
Total losses charged-off		($95)		($107)		($97)		($137)		($105)
Total recoveries of losses previously charged-off		31		18		24		30		18
Total net losses charged-off		($64)		($89)		($73)		($107)		($87)
Ratios (annualized)
Net losses charged-off as a percent of average portfolio loans and leases (excluding held for sale)		0.28%		0.40%		0.31%		0.45%		0.37%
Commercial		0.17%		0.29%		0.20%		0.43%		0.32%
Consumer		0.46%		0.56%		0.49%		0.49%		0.45%

Net charge-offs were $64 million, or 28 bps of average portfolio loans and leases on an annualized basis, in the second quarter of 2017 compared with net charge-offs of $89 million, or 40 bps, in the first quarter of 2017 and $87 million, or 37 bps, in the second quarter of 2016.

Commercial net charge-offs of $24 million, or 17 bps, decreased $18 million sequentially. This primarily reflected an $18 million decrease in net charge-offs of C&I loans. C&I net charge-offs were positively impacted by higher than normal recoveries.

Consumer net charge-offs of $40 million, or 46 bps, decreased $7 million sequentially. Compared with the previous quarter, net charge-offs on residential mortgage loans decreased $3 million. Net charge-offs on the home equity portfolio decreased $1 million from the previous quarter. Net charge-offs on the auto portfolio decreased $5 million from the previous quarter. Net charge-offs on credit card loans were flat from the first quarter of 2017. Net charge-offs on other consumer loans increased $2 million sequentially.

11

($ in millions)	For the Three Months Ended
	June		March		December		September		June
	2017		2017		2016		2016		2016
Allowance for Credit Losses
Allowance for loan and lease losses, beginning	$	1,238	$	1,253	$	1,272	$	1,299	$	1,295
Total net losses charged-off		(64)		(89)		(73)		(107)		(87)
Provision for loan and lease losses		52		74		54		80		91
Allowance for loan and lease losses, ending	$	1,226	$	1,238	$	1,253	$	1,272	$	1,299
Reserve for unfunded commitments, beginning	$	159	$	161	$	162	$	151	$	144
Provision for unfunded commitments		3		(2)		(1)		11		7
Reserve for unfunded commitments, ending	$	162	$	159	$	161	$	162	$	151
Components of allowance for credit losses:
Allowance for loan and lease losses	$	1,226	$	1,238	$	1,253	$	1,272	$	1,299
Reserve for unfunded commitments		162		159		161		162		151
Total allowance for credit losses	$	1,388	$	1,397	$	1,414	$	1,434	$	1,450
Allowance for loan and lease losses ratio
As a percent of portfolio loans and leases		1.34%		1.35%		1.36%		1.37%		1.38%
As a percent of nonperforming loans and leases(f)		200%		188%		190%		212%		188%
As a percent of nonperforming assets(f)		185%		172%		170%		182%		161%

Provision for loan and lease losses totaled $52 million in the second quarter of 2017. As of quarter end the allowance represented 1.34 percent of total portfolio loans and leases outstanding as of quarter end, compared with 1.35 percent last quarter, and represented 200 percent of nonperforming loans and leases, and 185 percent of nonperforming assets.

Provision for loan and lease losses decreased $22 million from the first quarter of 2017 and $39 million from the second quarter of 2016, primarily driven by improving criticized assets and nonperforming loans. The allowance for loan and lease losses decreased $12 million sequentially.

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($ in millions)	As of
	June 2017		March 2017		December 2016		September 2016		June 2016
Nonperforming Assets and Delinquent Loans
Nonaccrual portfolio loans and leases:
Commercial and industrial loans	$	225	$	251	$	302	$	235	$	254
Commercial mortgage loans		15		21		27		31		39
Commercial construction loans		—		—		—		—		—
Commercial leases		1		—		2		—		4
Residential mortgage loans		19		21		17		19		27
Home equity		52		53		55		59		61
Total nonaccrual portfolio loans and leases (excludes restructured loans)	$	312	$	346	$	403	$	344	$	385
Nonaccrual restructured portfolio commercial loans and leases(g)		244		251		192		194		242
Nonaccrual restructured portfolio consumer loans and leases		58		60		65		63		66
Total nonaccrual portfolio loans and leases	$	614	$	657	$	660	$	601	$	693
Repossessed property		11		14		15		13		15
OREO		37		50		63		84		97
Total nonperforming portfolio assets(f)	$	662	$	721	$	738	$	698	$	805
Nonaccrual loans held for sale		7		7		4		91		20
Nonaccrual restructured loans held for sale		1		2		9		9		—
Total nonperforming assets	$	670	$	730	$	751	$	798	$	825
Restructured Portfolio consumer loans and leases (accrual)	$	933	$	950	$	959	$	972	$	982
Restructured Portfolio commercial loans and leases (accrual)(g)	$	224	$	277	$	321	$	408	$	431
Total loans and leases 30-89 days past due (accrual)	$	190	$	180	$	231	$	205	$	196
Total loans and leases 90 days past due (accrual)	$	75	$	75	$	84	$	76	$	65
Nonperforming portfolio loans and leases as a percent of portfolio loans, leases and other assets, including OREO(f)		0.67%		0.72%		0.72%		0.64%		0.74%
Nonperforming portfolio assets as a percent of portfolio loans and leases and OREO(f)		0.72%		0.79%		0.80%		0.75%		0.86%

Total nonperforming portfolio assets decreased $59 million, or 8 percent, from the previous quarter to $662 million. Portfolio nonperforming loans (NPLs) at quarter-end decreased $43 million from the previous quarter to $614 million, or 0.67 percent of total portfolio loans, leases and OREO.

Commercial portfolio NPLs decreased $38 million from last quarter to $485 million, or 0.86 percent of commercial portfolio loans, leases and OREO. Consumer portfolio NPLs decreased $5 million from last quarter to $129 million, or 0.37 percent of consumer portfolio loans, leases and OREO.

OREO balances decreased $13 million from the prior quarter to $37 million, and included $23 million in commercial OREO and $14 million in consumer OREO. Repossessed personal property decreased $3 million from the prior quarter to $11 million.

Loans over 90 days past due and still accruing were flat from the first quarter of 2017 at $75 million. Loans 30-89 days past due of $190 million increased $10 million from the previous quarter.

13

Capital and Liquidity Position

	For the Three Months Ended
	June 2017		March 2017		December 2016		September 2016		June 2016
Capital Position
Average total Bancorp shareholders’ equity to average assets		11.84%		11.72%		11.66%		11.83%		11.60%
Tangible equity(b)		9.98%		10.12%		9.82%		9.73%		9.59%
Tangible common equity (excluding unrealized gains/losses)(b)		9.02%		9.15%		8.87%		8.78%		8.64%
Tangible common equity (including unrealized gains/losses)(b)		9.12%		9.20%		8.91%		9.24%		9.18%
Regulatory capital ratios:
CET1 capital(c)		10.63%		10.76%		10.39%		10.17%		9.94%
Tier I risk-based capital(c)		11.76%		11.90%		11.50%		11.27%		11.03%
Total risk-based capital(c)		15.22%		15.45%		15.02%		14.88%		14.66%
Tier I leverage		10.07%		10.15%		9.90%		9.80%		9.64%
CET1 capital (fully phased-in)(b)(c)		10.52%		10.66%		10.29%		10.09%		9.86%
Book value per share	$	20.42	$	20.13	$	19.82	$	20.44	$	20.09
Tangible book value per share(b)	$	17.11	$	16.89	$	16.60	$	17.22	$	16.93
Modified liquidity coverage ratio (LCR)(h)		122%		119%		128%		115%		110%

Capital ratios remained strong during the quarter. The CET1 ratio was 10.63 percent, the tangible common equity to tangible assets ratio^(b) was 9.02 percent (excluding unrealized gains/losses), and 9.12 percent (including unrealized gains/losses). The Tier I risk-based capital ratio was 11.76 percent, the Total risk-based capital ratio was 15.22 percent, and the Tier I leverage ratio was 10.07 percent.

Book value per share at June 30, 2017 was $20.42 and tangible book value per share^(b) was $17.11, compared with the March 31, 2017 book value per share of $20.13 and tangible book value per share^(b) of $16.89.

On May 1, 2017, Fifth Third initially settled a share repurchase agreement whereby Fifth Third would purchase $342 million of its outstanding stock. This reduced second quarter common shares outstanding by 11.6 million shares. Settlement of the forward contract related to this agreement is expected to occur on or before July 26, 2017.

On June 28, 2017, Fifth Third announced that the Board of Governors of the Federal Reserve System did not object to Fifth Third’s 2017 CCAR capital plan for the period beginning July 1, 2017 and ending June 30, 2018. Fifth Third’s capital plan included the following capital actions related to common dividends and share repurchases:

• The increase in the quarterly common stock dividend to $0.16 from $0.14 beginning 3Q 2017 and to $0.18 beginning 2Q 2018, a 29 percent increase over the current dividend rate

• The repurchase of common shares in an amount up to $1.161 billion, or a 76 percent increase over the 2016 capital plan. These repurchases include:

• $88 million in repurchases related to share issuances under employee benefit plans

• $48 million in repurchases related to previously-recognized Vantiv tax receivable agreement (“TRA”) transaction after-tax gains

14

• The additional ability to repurchase common shares in the amount of any after-tax capital generated from the sale of Vantiv, Inc. (“Vantiv”) common stock

• The additional ability to repurchase common shares in the amount of any after-tax cash income generated from the termination and settlement of gross cash flows from existing TRAs with Vantiv or potential future TRAs that may be generated from additional sales of Vantiv

Tax Rate

The effective tax rate was 25.9 percent in the second quarter of 2017 compared with 22.9 percent in the first quarter of 2017 and 23.9 percent in the second quarter of 2016.

Other

Fifth Third Bank owns approximately 35 million units representing a 17.7 percent interest in Vantiv Holding, LLC, convertible into shares of Vantiv, Inc., a publicly traded firm. Based upon Vantiv’s closing price of $63.34 on June 30, 2017, our interest in Vantiv was valued at approximately $2.2 billion. Next month in our 10-Q, we will update our disclosure of the carrying value of our interest in Vantiv stock, which was $430 million as of March 31, 2017. The difference between the market value and the book value of Fifth Third’s interest in Vantiv’s shares is not recognized in Fifth Third’s equity or capital.

Conference Call

Fifth Third will host a conference call to discuss these financial results at 10:00 a.m. (Eastern Time) today. This conference call will be webcast live and may be accessed through the Fifth Third Investor Relations website at www.53.com (click on “About Us” then “Investor Relations”).

Those unable to listen to the live webcast may access a webcast replay through the Fifth Third Investor Relations website at the same web address. Additionally, a telephone replay of the conference call will be available after the conference call until approximately August 4, 2017 by dialing 800-585-8367 for domestic access or 404-537-3406 for international access (passcode 44812729#).

Corporate Profile

Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio. As of June 30, 2017, the Company had $141 billion in assets and operates 1,157 full-service Banking Centers, and 2,461 Fifth Third branded ATMs in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Georgia and North Carolina. In total, Fifth Third provides its customers with access to more than 45,000 fee-free ATMs across the United States. Fifth Third operates four main businesses: Commercial Banking, Branch Banking, Consumer Lending, and Wealth & Asset Management. Fifth Third also has a 17.7% interest in Vantiv Holding, LLC. Fifth Third is among the largest money managers in the Midwest and, as of June 30, 2017, had $330 billion in assets under care, of which it managed $34 billion for individuals, corporations and not-for-profit organizations through its Trust and Registered Investment Advisory businesses. Investor information and press releases can be viewed at www.53.com. Fifth Third’s common stock is traded on the NASDAQ^® Global Select Market under the symbol “FITB.”

15

Earnings Release End Notes

(a) Assumes a 35% tax rate.

(b) Non-GAAP measure; see discussion of non-GAAP and Reg. G reconciliation beginning on page 32.

(c) Under the banking agencies’ Basel III Final Rule, assets and credit equivalent amounts of off-balance sheet exposures are calculated according to the standardized approach for risk-weighted assets. The resulting values are added together resulting in the Bancorp’s total risk-weighted assets used in the calculation of the tier I risk-based capital and common equity tier 1 ratios. Current period regulatory capital ratios are estimated.

(d) Net tax deficiencies of $5 million and $0 were reclassified from capital surplus to applicable income tax expense and average common shares outstanding – diluted were adjusted at June 30, 2016 and September 30, 2016, respectively, related to the early adoption of ASU 2016-09 during the fourth quarter of 2016, with an effective date of January 1, 2016.

(e) Includes commercial customer Eurodollar sweep balances for which the Bancorp pays rates comparable to other commercial deposit accounts.

(f) Excludes nonaccrual loans in loans held for sale.

(g) As of June 30, 2017, March 31, 2017 and December 31, 2016, excludes $7 million of restructured accruing loans and $19 million of restructured nonaccrual loans associated with a consolidated VIE in which the Bancorp has no continuing credit risk due to the risk being assumed by a third party. As of September 30, 2016, and June 30, 2016, excludes $7 million of restructured accruing loans and $20 million of restructured nonaccrual loans associated with a consolidated VIE in which the Bancorp has no continuing credit risk due to the risk being assumed by a third party.

(h) The Bancorp became subject to the Modified LCR regulations effective January 1, 2016. (Current period LCR is estimated)

16

FORWARD-LOOKING STATEMENTS

This release contains statements that we believe are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Rule 175 promulgated thereunder, and Section 21E of the Securities Exchange Act of 1934, as amended, and Rule 3b-6 promulgated thereunder. These statements relate to our financial condition, results of operations, plans, objectives, future performance or business. They usually can be identified by the use of forward-looking language such as “will likely result,” “may,” “are expected to,” “anticipates,” “potential,” “estimate,” “forecast,” “projected,” “intends to,” or may include other similar words or phrases such as “believes,” “plans,” “trend,” “objective,” “continue,” “remain,” or similar expressions, or future or conditional verbs such as “will,” “would,” “should,” “could,” “might,” “can,” or similar verbs. You should not place undue reliance on these statements, as they are subject to risks and uncertainties, including but not limited to the risk factors set forth in our most recent Annual Report on Form 10-K as updated from time to time by our Quarterly Reports on Form 10-Q. When considering these forward-looking statements, you should keep in mind these risks and uncertainties, as well as any cautionary statements we may make. Moreover, you should treat these statements as speaking only as of the date they are made and based only on information then actually known to us. There is a risk that additional information may become known during the company’s quarterly closing process or as a result of subsequent events that could affect the accuracy of the statements and financial information contained herein.

There are a number of important factors that could cause future results to differ materially from historical performance and these forward-looking statements. Factors that might cause such a difference include, but are not limited to: (1) general economic or real estate market conditions, either nationally or in the states in which Fifth Third, one or more acquired entities and/or the combined company do business, weaken or are less favorable than expected; (2) deteriorating credit quality; (3) political developments, wars or other hostilities may disrupt or increase volatility in securities markets or other economic conditions; (4) changes in the interest rate environment reduce interest margins; (5) prepayment speeds, loan origination and sale volumes, charge-offs and loan loss provisions; (6) Fifth Third’s ability to maintain required capital levels and adequate sources of funding and liquidity; (7) maintaining capital requirements and adequate sources of funding and liquidity may limit Fifth Third’s operations and potential growth; (8) changes and trends in capital markets; (9) problems encountered by larger or similar financial institutions may adversely affect the banking industry and/or Fifth Third; (10) competitive pressures among depository institutions increase significantly; (11) changes in customer preferences or information technology systems; (12) effects of critical accounting policies and judgments; (13) changes in accounting policies or procedures as may be required by the Financial Accounting Standards Board (FASB) or other regulatory agencies; (14) legislative or regulatory changes or actions, or significant litigation, adversely affect Fifth Third, one or more acquired entities and/or the combined company or the businesses in which Fifth Third, one or more acquired entities and/or the combined company are engaged, including the Dodd-Frank Wall Street Reform and Consumer Protection Act; (15) ability to maintain favorable ratings from rating agencies; (16) failure of models or risk management systems or controls; (17) fluctuation of Fifth Third’s stock price; (18) ability to attract and retain key personnel; (19) ability to receive dividends from its subsidiaries; (20) potentially dilutive effect of future acquisitions on current shareholders’ ownership of Fifth Third; (21) declines in the value of Fifth Third’s goodwill or other intangible assets; (22) effects of accounting or financial results of one or more acquired entities; (23) difficulties from Fifth Third’s investment in, relationship with, and nature of the operations of Vantiv Holding, LLC; (24) loss of income from any sale or potential sale of businesses (25) difficulties in separating the operations of any branches or other assets divested; (26) losses or adverse impacts on the carrying values of branches and long-lived assets in connection with their sales or anticipated sales; (27) inability to achieve expected benefits from branch consolidations and planned sales within desired timeframes, if at all; (28) ability to secure confidential information and deliver products and services through the use of computer systems and telecommunications networks; and (29) the impact of reputational risk created by these developments on such matters as business generation and retention, funding and liquidity.

You should refer to our periodic and current reports filed with the Securities and Exchange Commission, or “SEC,” for further information on other factors, which could cause actual results to be significantly different from those expressed or implied by these forward-looking statements.

In this release, we may sometimes provide non-GAAP financial information. Please note that although non-GAAP financial measures provide useful insight to analysts, investors and regulators, they should not be considered in isolation or relied upon as a substitute for analysis using GAAP measures. We provide GAAP reconciliations for non-GAAP measures in a later slide in this presentation as well as in our earnings release, both of which are available in the investor relations section of our website, www.53.com.

# # #

17

Quarterly Financial Review for June 30, 2017

Table of Contents

Financial Highlights	19-20
Consolidated Statements of Income	21
Consolidated Balance Sheets	22-23
Consolidated Statements of Changes in Equity	24
Average Balance Sheet and Yield Analysis	25-27
Summary of Loans and Leases	28
Regulatory Capital	29
Summary of Credit Loss Experience	30
Asset Quality	31
Regulation G Non-GAAP Reconciliation	32-33
Segment Presentation	34

18

Fifth Third Bancorp and Subsidiaries

Financial Highlights

$ in millions, except per share data

(unaudited)

	For the Three Months Ended						% / bps Change				Year to Date				% / bps Change
	June 2017		March 2017		June 2016(k)		Seq		Yr/Yr		June 2017		June 2016(k)		Yr/Yr
Income Statement Data
Taxable equivalent net interest income(c)	$	945	$	939	$	908		1%		4%	$	1,884	$	1,817		4%
Noninterest income		564		523		599		8%		(6%)		1,087		1,235		(12%)
Taxable equivalent total revenue		1,509		1,462		1,507		3%		—		2,971		3,052		(3%)
Provision for loan and lease losses		52		74		91		(30%)		(43%)		126		210		(40%)
Noninterest expense		957		986		983		(3%)		(3%)		1,943		1,968		(1%)
Net income attributable to Bancorp		367		305		328		20%		12%		672		654		3%
Net income available to common shareholders		344		290		305		19%		13%		634		616		3%
Earnings Per Share Data
Net income allocated to common shareholders	$	340	$	286	$	302		19%		13%	$	627	$	610		3%
Average common shares outstanding (in thousands):
Basic		741,401		747,668		759,105		(1%)		(2%)		744,517		766,335		(3%)
Diluted		752,328		760,809		764,811		(1%)		(2%)		756,545		771,284		(2%)
Earnings per share, basic	$	0.46	$	0.38	$	0.40		21%		15%	$	0.84	$	0.80		5%
Earnings per share, diluted		0.45		0.38		0.39		18%		15%		0.83		0.79		5%
Common Share Data
Cash dividends per common share	$	0.14	$	0.14	$	0.13		—		8%	$	0.28	$	0.26		8%
Book value per share		20.42		20.13		20.09		1%		2%		20.42		20.09		2%
Market price per share		25.96		25.40		17.59		2%		48%		25.96		17.59		48%
Common shares outstanding (in thousands)		738,873		750,145		766,346		(2%)		(4%)		738,873		766,346		(4%)
Market capitalization	$	19,181	$	19,054	$	13,480		1%		42%	$	19,181	$	13,480		42%
Financial Ratios
Return on average assets		1.05%		0.88%		0.92%		17		13		0.97%		0.92%		5
Return on average common equity		9.0%		7.8%		8.0%		120		100		8.4%		8.2%		23
Return on average tangible common equity(a)(c)		10.7%		9.3%		9.6%		140		110		10.0%		9.8%		20
Noninterest income as a percent of total revenue		37%		36%		40%		100		(300)		37%		40%		(300)
Dividend payout ratio		30.4%		36.8%		32.5%		(640)		(210)		33.3%		32.5%		80
Average total Bancorp shareholders’ equity as a percent of average assets		11.84%		11.72%		11.60%		12		24		11.78%		11.59%		19
Tangible common equity(b)(c)		9.02%		9.15%		8.64%		(13)		38		9.02%		8.64%		38
Taxable equivalent net interest margin(c)		3.01%		3.02%		2.88%		(1)		13		3.01%		2.89%		12
Taxable equivalent efficiency(c)		63.4%		67.4%		65.3%		(400)		(190)		65.4%		64.5%		90
Effective tax rate		25.9%		22.9%		23.9%		300		200		24.5%		24.5%		—
Credit Quality
Net losses charged-off	$	64	$	89	$	87		(28%)		(26%)	$	153	$	183		(16%)
Net losses charged-off as a percent of average portfolio loans and leases		0.28%		0.40%		0.37%		(12)		(9)		0.34%		0.39%		(5)
ALLL as a percent of portfolio loans and leases		1.34%		1.35%		1.38%		(1)		(4)		1.34%		1.38%		(4)
Allowance for credit losses as a percent of portfolio loans and leases(j)		1.52%		1.52%		1.54%		—		(2)		1.52%		1.54%		(2)
Nonperforming portfolio assets as a percent of portfolio loans and leases and OREO(d)		0.72%		0.79%		0.86%		(7)		(14)		0.72%		0.86%		(14)
Average Balances
Loans and leases, including held for sale	$	92,653	$	92,791	$	94,807		—		(2%)	$	92,721	$	94,443		(2%)
Total securities and other short-term investments		33,481		33,177		32,040		1%		4%		33,329		31,808		5%
Total assets		140,344		140,140		142,920		—		(2%)		140,243		142,251		(1%)
Transaction deposits(e)		95,825		97,018		94,929		(1%)		1%		96,419		94,806		2%
Core deposits(f)		99,570		100,845		98,973		(1%)		1%		100,205		98,845		1%
Wholesale funding(g)		20,665		19,129		23,084		8%		(10%)		19,900		22,509		(12%)
Bancorp shareholders’ equity		16,615		16,429		16,584		1%		—		16,522		16,479		—
Capital and Liquidity Ratios(h)
CET1 capital(i)		10.63%		10.76%		9.94%		(13)		69		10.63%		9.94%		69
Tier I risk-based capital(i)		11.76%		11.90%		11.03%		(14)		73		11.76%		11.03%		73
Total risk-based capital(i)		15.22%		15.45%		14.66%		(23)		56		15.22%		14.66%		56
Tier I leverage		10.07%		10.15%		9.64%		(8)		43		10.07%		9.64%		43
CET1 capital (fully phased-in)(i)(c)		10.52%		10.66%		9.86%		(14)		66		10.52%		9.86%		66
Modified liquidity coverage ratio (LCR)		122%		119%		110%		3%		11%		122%		110%		11%
Operations
Banking centers		1,157		1,155		1,191		—		(3%)		1,157		1,191		(3%)
ATMs		2,461		2,471		2,514		—		(2%)		2,461		2,514		(2%)
Full-time equivalent employees		17,744		17,763		18,051		—		(2%)		17,744		18,051		(2%)

(a) The return on average tangible common equity is calculated as tangible net income available to common shareholders (excluding tax effected amortization of intangibles) divided by average tangible common equity (average common equity less goodwill and intangible assets).

(b) The tangible common equity ratio is calculated as tangible common equity [shareholders’ equity less preferred stock, goodwill, intangible assets and accumulated other comprehensive income divided by tangible assets (total assets less goodwill, intangible assets and AOCI)].

(c) Non-GAAP measure; see discussion of non-GAAP and Reg. G reconciliation beginning on page 32.

(d) Excludes nonaccrual loans held for sale.

(e) Includes demand, interest checking, savings, money market and foreign office deposits of commercial customers.

(f) Includes transaction deposits plus other time deposits.

(g) Includes certificates $100,000 and over, other deposits, federal funds purchased, other short-term borrowings and long-term debt.

(h) Current period regulatory capital and liquidity ratios are estimates.

(i) Under the banking agencies’ Basel III Final Rule, assets and credit equivalent amounts of off-balance sheet exposures are calculated based upon the standardized approach for risk-weighted assets. The resulting values are added together resulting in the Bancorp’s total risk-weighted assets.

(j) The allowance for credit losses is the sum of the ALLL and the reserve for unfunded commitments.

(k) Net tax deficiencies of $5 million and $6 million were reclassified from capital surplus to applicable income tax expense and average common shares outstanding – diluted were adjusted for the three and six months ended June 30, 2016, respectively, related to the early adoption of ASU 2016-09 during the fourth quarter of 2016, with an effective date of January 1, 2016.

19

Fifth Third Bancorp and Subsidiaries

Financial Highlights

$ in millions, except per share data

(unaudited)

	For the Three Months Ended
	June 2017		March 2017		December 2016		September 2016(k)		June 2016(k)
Income Statement Data
Taxable equivalent net interest income(c)	$	945	$	939	$	909	$	913	$	908
Noninterest income		564		523		620		840		599
Taxable equivalent total revenue		1,509		1,462		1,529		1,753		1,507
Provision for loan and lease losses		52		74		54		80		91
Noninterest expense		957		986		960		973		983
Net income attributable to Bancorp		367		305		395		516		328
Net income available to common shareholders		344		290		372		501		305
Earnings Per Share Data
Net income allocated to common shareholders	$	340	$	286	$	368	$	496	$	302
Average common shares outstanding (in thousands):
Basic		741,401		747,668		746,367		750,886		759,105
Diluted		752,328		760,809		757,704		757,856		764,811
Earnings per share, basic	$	0.46	$	0.38	$	0.49	$	0.66		0.40
Earnings per share, diluted		0.45		0.38		0.49		0.65		0.39
Common Share Data
Cash dividends per common share	$	0.14	$	0.14	$	0.14	$	0.13	$	0.13
Book value per share		20.42		20.13		19.82		20.44		20.09
Market price per share		25.96		25.40		26.97		20.46		17.59
Common shares outstanding (in thousands)		738,873		750,145		750,479		755,582		766,346
Market capitalization	$	19,181	$	19,054	$	20,240	$	15,459	$	13,480
Financial Ratios
Return on average assets		1.05%		0.88%		1.11%		1.44%		0.92%
Return on average common equity		9.0%		7.8%		9.7%		12.8%		8.0%
Return on average tangible common equity(a)(c)		10.7%		9.3%		11.6%		15.2%		9.6%
Noninterest income as a percent of total revenue		37%		36%		41%		48%		40%
Dividend payout ratio		30.4%		36.8%		28.6%		19.7%		32.5%
Average total Bancorp shareholders’ equity as a percent of average assets		11.84%		11.72%		11.66%		11.83%		11.60%
Tangible common equity(b)(c)		9.02%		9.15%		8.87%		8.78%		8.64%
Taxable equivalent net interest margin(c)		3.01%		3.02%		2.86%		2.88%		2.88%
Taxable equivalent efficiency ratio(c)		63.4%		67.4%		62.8%		55.5%		65.3%
Effective tax rate		25.9%		22.9%		22.6%		25.6%		23.9%
Credit Quality
Net losses charged-off	$	64	$	89	$	73	$	107	$	87
Net losses charged-off as a percent of average portfolio loans and leases		0.28%		0.40%		0.31%		0.45%		0.37%
ALLL as a percent of portfolio loans and leases		1.34%		1.35%		1.36%		1.37%		1.38%
Allowance for credit losses as a percent of portfolio loans and leases(j)		1.52%		1.52%		1.54%		1.54%		1.54%
Nonperforming portfolio assets as a percent of portfolio loans and leases and OREO(d)		0.72%		0.79%		0.80%		0.75%		0.86%
Average Balances
Loans and leases, including held for sale	$	92,653	$	92,791	$	93,981	$	94,417	$	94,807
Total securities and other short-term investments		33,481		33,177		32,567		31,675		32,040
Total assets		140,344		140,140		141,837		142,726		142,920
Transaction deposits(e)		95,825		97,018		97,008		94,855		94,929
Core deposits(f)		99,570		100,845		100,949		98,875		98,973
Wholesale funding(g)		20,665		19,129		20,015		22,236		23,084
Bancorp shareholders’ equity		16,615		16,429		16,545		16,883		16,584
Capital and Liquidity Ratios(h)
CET1 capital(i)		10.63%		10.76%		10.39%		10.17%		9.94%
Tier I risk-based capital(i)		11.76%		11.90%		11.50%		11.27%		11.03%
Total risk-based capital(i)		15.22%		15.45%		15.02%		14.88%		14.66%
Tier I leverage		10.07%		10.15%		9.90%		9.80%		9.64%
CET1 capital (fully phased-in)(i)(c)		10.52%		10.66%		10.29%		10.09%		9.86%
Modified liquidity coverage ratio (LCR)		122%		119%		128%		115%		110%
Operations
Banking centers		1,157		1,155		1,191		1,191		1,191
ATMs		2,461		2,471		2,495		2,497		2,514
Full-time equivalent employees		17,744		17,763		17,844		18,072		18,051

(a) The return on average tangible common equity is calculated as tangible net income available to common shareholders (excluding tax effected amortization of intangibles) divided by average tangible common equity (average common equity less goodwill and intangible assets).

(b) The tangible common equity ratio is calculated as tangible common equity [shareholders’ equity less preferred stock, goodwill, intangible assets and accumulated other comprehensive income divided by tangible assets (total assets less goodwill, intangible assets and AOCI)].

(c) Non-GAAP measure; see discussion of non-GAAP and Reg. G reconciliation beginning on page 32.

(d) Excludes nonaccrual loans held for sale.

(e) Includes demand, interest checking, savings, money market and foreign office deposits of commercial customers.

(f) Includes transaction deposits plus other time deposits.

(g) Includes certificates $100,000 and over, other deposits, federal funds purchased, other short-term borrowings and long-term debt.

(h) Current period regulatory capital and liquidity ratios are estimates.

(i) Under the banking agencies’ Basel III Final Rule, assets and credit equivalent amounts of off-balance sheet exposures are calculated based upon the standardized approach for risk-weighted assets. The resulting values are added together resulting in the Bancorp’s total risk-weighted assets.

(j) The allowance for credit losses is the sum of the ALLL and the reserve for unfunded commitments.

(k) Net tax deficiencies of $5 million and $0 were reclassified from capital surplus to applicable income tax expense and average common shares outstanding – diluted were adjusted at June 30, 2016 and September 30, 2016, respectively, related to the early adoption of ASU 2016-09 during the fourth quarter of 2016, with an effective date of January 1, 2016.

20

Fifth Third Bancorp and Subsidiaries

Consolidated Statements of Income

$ in millions

(unaudited)

	For the Three Months Ended						% Change				Year to Date				% Change
	June 2017		March 2017		June 2016(a)		Seq		Yr/Yr		June 2017		June 2016(a)		Yr/Yr
Interest Income
Interest and fees on loans and leases	$	858	$	839	$	808		2%		6%	$	1,696	$	1,613		5%
Interest on securities		245		245		236		—		4%		490		468		5%
Interest on other short-term investments		3		2		2		50%		50%		6		4		50%
Total interest income		1,106		1,086		1,046		2%		6%		2,192		2,085		5%
Interest Expense
Interest on deposits		65		59		50		10%		30%		124		99		25%
Interest on federal funds purchased		1		1		1		—		—		2		1		100%
Interest on other short-term borrowings		10		3		3		NM		NM		12		7		71%
Interest on long-term debt		91		90		90		1%		1%		182		173		5%
Total interest expense		167		153		144		9%		16%		320		280		14%
Net Interest Income		939		933		902		1%		4%		1,872		1,805		4%
Provision for loan and lease losses		52		74		91		(30%)		(43%)		126		210		(40%)
Net Interest Income After Provision for Loan and Lease Losses		887		859		811		3%		9%		1,746		1,595		9%
Noninterest Income
Service charges on deposits		139		138		138		1%		1%		277		274		1%
Corporate banking revenue		101		74		117		36%		(14%)		175		219		(20%)
Mortgage banking net revenue		55		52		75		6%		(27%)		108		154		(30%)
Wealth and asset management revenue		103		108		101		(5%)		2%		211		203		4%
Card and processing revenue		79		74		82		7%		(4%)		153		161		(5%)
Other noninterest income		85		77		80		10%		6%		160		215		(26%)
Securities gains, net		—		—		6		—		(100%)		1		9		(89%)
Securities gains, net - non-qualifying hedges on mortgage servicing rights		2		—		—		100%		100%		2		—		100%
Total noninterest income		564		523		599		8%		(6%)		1,087		1,235		(12%)
Noninterest Expense
Salaries, wages and incentives		397		411		407		(3%)		(2%)		808		810		—
Employee benefits		86		111		85		(23%)		1%		196		185		6%
Net occupancy expense		70		78		75		(10%)		(7%)		148		152		(3%)
Technology and communications		57		58		60		(2%)		(5%)		116		116		—
Equipment expense		29		28		30		4%		(3%)		57		60		(5%)
Card and processing expense		33		30		37		10%		(11%)		63		72		(13%)
Other noninterest expense		285		270		289		6%		(1%)		555		573		(3%)
Total noninterest expense		957		986		983		(3%)		(3%)		1,943		1,968		(1%)
Income Before Income Taxes		494		396		427		25%		16%		890		862		3%
Applicable income tax expense		127		91		103		40%		23%		218		212		3%
Net Income		367		305		324		20%		13%		672		650		3%
Less: Net income attributable to noncontrolling interests		—		—		(4)		—		(100%)		—		(4)		(100%)
Net Income Attributable to Bancorp		367		305		328		20%		12%		672		654		3%
Dividends on preferred stock		23		15		23		53%		—		38		38		—
Net Income Available to Common Shareholders	$	344	$	290	$	305		19%		13%	$	634	$	616		3%

(a) Net tax deficiencies of $5 million and $6 million were reclassified from capital surplus to applicable income tax expense for the three and six months ended June 30, 2016, respectively, related to the early adoption of ASU 2016-09 during the fourth quarter of 2016, with an effective date of January 1, 2016.

21

Fifth Third Bancorp and Subsidiaries

Consolidated Balance Sheets

$ in millions, except per share data

(unaudited)

	As of						% Change
	June 2017		March 2017		June 2016(d)		Seq		Yr/Yr
Assets
Cash and due from banks	$	2,203	$	2,205	$	2,359		—		(7%)
Available-for-sale and other securities(a)		31,823		31,531		31,455		1%		1%
Held-to-maturity securities(b)		26		26		62		—		(58%)
Trading securities		842		689		401		22%		NM
Other short-term investments		2,163		1,644		1,818		32%		19%
Loans held for sale		766		616		877		24%		(13%)
Portfolio loans and leases:
Commercial and industrial loans		40,914		41,074		43,558		—		(6%)
Commercial mortgage loans		6,868		6,924		6,875		(1%)		—
Commercial construction loans		4,366		4,283		3,706		2%		18%
Commercial leases		4,157		4,092		3,978		2%		4%
Residential mortgage loans		15,460		15,336		14,307		1%		8%
Home equity		7,301		7,469		7,988		(2%)		(9%)
Automobile loans		9,318		9,572		10,671		(3%)		(13%)
Credit card		2,117		2,070		2,172		2%		(3%)
Other consumer loans and leases		945		808		654		17%		44%
Portfolio loans and leases		91,446		91,628		93,909		—		(3%)
Allowance for loan and lease losses		(1,226)		(1,238)		(1,299)		(1%)		(6%)
Portfolio loans and leases, net		90,220		90,390		92,610		—		(3%)
Bank premises and equipment		2,041		2,052		2,144		(1%)		(5%)
Operating lease equipment		719		702		756		2%		(5%)
Goodwill		2,423		2,419		2,416		—		—
Intangible assets		18		11		10		64%		80%
Servicing rights		849		776		621		9%		37%
Other assets		6,974		7,139		8,096		(2%)		(14%)
Total Assets	$	141,067	$	140,200	$	143,625		1%		(2%)
Liabilities
Deposits:
Demand	$	34,965	$	35,362	$	36,137		(1%)		(3%)
Interest checking		25,436		27,230		24,571		(7%)		4%
Savings		14,068		14,360		14,356		(2%)		(2%)
Money market		20,191		20,585		19,125		(2%)		6%
Foreign office		395		521		453		(24%)		(13%)
Other time		3,692		3,750		4,021		(2%)		(8%)
Certificates $100,000 and over		2,633		2,348		2,778		12%		(5%)
Other		500		—		430		100%		16%
Total deposits		101,880		104,156		101,871		(2%)		—
Federal funds purchased		117		155		108		(25%)		8%
Other short-term borrowings		5,389		2,015		3,979		NM		35%
Accrued taxes, interest and expenses		1,617		1,655		2,187		(2%)		(26%)
Other liabilities		2,162		2,104		2,495		3%		(13%)
Long-term debt		13,456		13,658		16,231		(1%)		(17%)
Total Liabilities		124,621		123,743		126,871		1%		(2%)
Equity
Common stock(c)		2,051		2,051		2,051		—		—
Preferred stock		1,331		1,331		1,331		—		—
Capital surplus		2,751		2,803		2,760		(2%)		—
Retained earnings		13,862		13,625		12,772		2%		9%
Accumulated other comprehensive income		163		68		889		NM		(82%)
Treasury stock		(3,739)		(3,448)		(3,077)		8%		22%
Total Bancorp shareholders’ equity		16,419		16,430		16,726		—		(2%)
Noncontrolling interests		27		27		28		—		(4%)
Total Equity		16,446		16,457		16,754		—		(2%)
Total Liabilities and Equity	$	141,067	$	140,200	$	143,625		1%		(2%)
(a) Amortized cost	$	31,492	$	31,348	$	30,101		—		5%
(b) Market values		26		26		62		—		(58%)
(c) Common shares, stated value $2.22 per share (in thousands):
Authorized		2,000,000		2,000,000		2,000,000		—		—
Outstanding, excluding treasury		738,873		750,145		766,346		(2%)		(4%)
Treasury		185,020		173,748		157,547		6%		17%

(d) Net tax deficiencies of $1 million, $5 million and $0 were reclassified from capital surplus to applicable income tax expense at March 31, 2016, June 30, 2016 and September 30, 2016, respectively, related to the early adoption of ASU 2016-09 during the fourth quarter of 2016, with an effective date of January 1, 2016.

22

Fifth Third Bancorp and Subsidiaries    

Consolidated Balance Sheets    

$ in millions, except per share data    

(unaudited)

	As of
	June 2017		March 2017		December 2016		September 2016(d)		June 2016(d)
Assets
Cash and due from banks	$	2,203	$	2,205	$	2,392	$	2,164	$	2,359
Available-for-sale and other securities(a)		31,823		31,531		31,183		30,689		31,455
Held-to-maturity securities(b)		26		26		26		56		62
Trading securities		842		689		410		431		401
Other short-term investments		2,163		1,644		2,754		2,995		1,818
Loans held for sale		766		616		751		1,060		877
Portfolio loans and leases:
Commercial and industrial loans		40,914		41,074		41,676		42,727		43,558
Commercial mortgage loans		6,868		6,924		6,899		6,856		6,875
Commercial construction loans		4,366		4,283		3,903		3,905		3,706
Commercial leases		4,157		4,092		3,974		3,995		3,978
Residential mortgage loans		15,460		15,336		15,051		14,643		14,307
Home equity		7,301		7,469		7,695		7,864		7,988
Automobile loans		9,318		9,572		9,983		10,349		10,671
Credit card		2,117		2,070		2,237		2,169		2,172
Other consumer loans and leases		945		808		680		643		654
Portfolio loans and leases		91,446		91,628		92,098		93,151		93,909
Allowance for loan and lease losses		(1,226)		(1,238)		(1,253)		(1,272)		(1,299)
Portfolio loans and leases, net		90,220		90,390		90,845		91,879		92,610
Bank premises and equipment		2,041		2,052		2,065		2,084		2,144
Operating lease equipment		719		702		738		771		756
Goodwill		2,423		2,419		2,416		2,416		2,416
Intangible assets		18		11		9		10		10
Servicing rights		849		776		744		619		621
Other assets		6,974		7,139		7,844		8,105		8,096
Total Assets	$	141,067	$	140,200	$	142,177	$	143,279	$	143,625
Liabilities
Deposits:
Demand	$	34,965	$	35,362	$	35,782	$	35,625	$	36,137
Interest checking		25,436		27,230		26,679		24,483		24,571
Savings		14,068		14,360		13,941		14,019		14,356
Money market		20,191		20,585		20,749		19,910		19,125
Foreign office		395		521		426		518		453
Other time		3,692		3,750		3,866		3,971		4,021
Certificates $100,000 and over		2,633		2,348		2,378		2,745		2,778
Other		500		—		—		—		430
Total deposits		101,880		104,156		103,821		101,271		101,871
Federal funds purchased		117		155		132		126		108
Other short-term borrowings		5,389		2,015		3,535		3,494		3,979
Accrued taxes, interest and expenses		1,617		1,655		1,800		2,178		2,187
Other liabilities		2,162		2,104		2,269		2,516		2,495
Long-term debt		13,456		13,658		14,388		16,890		16,231
Total Liabilities		124,621		123,743		125,945		126,475		126,871
Equity
Common stock(c)		2,051		2,051		2,051		2,051		2,051
Preferred stock		1,331		1,331		1,331		1,331		1,331
Capital surplus		2,751		2,803		2,756		2,750		2,760
Retained earnings		13,862		13,625		13,441		13,175		12,772
Accumulated other comprehensive income		163		68		59		755		889
Treasury stock		(3,739)		(3,448)		(3,433)		(3,286)		(3,077)
Total Bancorp shareholders’ equity		16,419		16,430		16,205		16,776		16,726
Noncontrolling interests		27		27		27		28		28
Total Equity		16,446		16,457		16,232		16,804		16,754
Total Liabilities and Equity	$	141,067	$	140,200	$	142,177	$	143,279	$	143,625
(a) Amortized cost	$	31,492	$	31,348	$	31,024	$	29,486	$	30,101
(b) Market values		26		26		26		56		62
(c) Common shares, stated value $2.22 per share (in thousands):
Authorized		2,000,000		2,000,000		2,000,000		2,000,000		2,000,000
Outstanding, excluding treasury		738,873		750,145		750,479		755,582		766,346
Treasury		185,020		173,748		173,413		168,310		157,547

(d) Net tax deficiencies of $1 million, $5 million and $0 were reclassified from capital surplus to applicable income tax expense at March 31, 2016, June 30, 2016 and September 30, 2016, respectively, related to the early adoption of ASU 2016-09 during the fourth quarter of 2016, with an effective date of January 1, 2016.

23

Fifth Third Bancorp and Subsidiaries    

Consolidated Statements of Changes in Equity    

$ in millions    

(unaudited)     

	For the Three Months Ended						Year to Date
	June 2017			June 2016(a)			June 2017			June 2016(a)
Total Equity, Beginning	$	16,457		$	16,355		$	16,232		$	15,870
Net income attributable to Bancorp		367			328			672			654
Other comprehensive income, net of tax:
Change in unrealized gains (losses):
Available-for-sale securities		93			194			109			641
Qualifying cash flow hedges		1			9			(7	)		48
Change in accumulated other comprehensive income related to employee benefit plans		1			2			2			3
Comprehensive income		462			533			776			1,346
Cash dividends declared:
Common stock		(104	)		(100	)		(210	)		(201	)
Preferred stock		(23	)		(23	)		(38	)		(38	)
Impact of stock transactions under stock compensation plans, net		(3	)		19			29			45
Shares acquired for treasury		(342	)		(26	)		(342	)		(265	)
Noncontrolling interest		—			(4	)		—			(3	)
Other		(1	)		—			(1	)		—
Total Equity, Ending	$	16,446		$	16,754		$	16,446		$	16,754

(a) Net tax deficiencies of $5 million and $6 million were reclassified from capital surplus to applicable income tax expense for the three and six months ended June 30, 2016, respectively, related to the early adoption of ASU 2016-09 during the fourth quarter of 2016, with an effective date of January 1, 2016.

24

Fifth Third Bancorp and Subsidiaries    

Average Balance Sheet and Yield Analysis    

$ in millions, except share data    

(unaudited)    

	For the Three Months Ended						% Change
	June 2017		March 2017		June 2016		Seq		Yr/Yr
Assets
Interest-earning assets:
Commercial and industrial loans	$	41,656	$	41,892	$	43,878		(1%)		(5%)
Commercial mortgage loans		6,861		6,946		6,835		(1%)		—
Commercial construction loans		4,306		3,987		3,551		8%		21%
Commercial leases		4,039		3,904		3,904		3%		3%
Residential mortgage loans		16,024		15,800		14,842		1%		8%
Home equity		7,385		7,581		8,059		(3%)		(8%)
Automobile loans		9,410		9,786		10,887		(4%)		(14%)
Credit card		2,080		2,141		2,198		(3%)		(5%)
Other consumer loans and leases		892		754		653		18%		37%
Taxable securities		32,092		31,815		30,002		1%		7%
Tax exempt securities		68		55		85		24%		(20%)
Other short-term investments		1,321		1,307		1,953		1%		(32%)
Total interest-earning assets		126,134		125,968		126,847		—		(1%)
Cash and due from banks		2,175		2,205		2,228		(1%)		(2%)
Other assets		13,272		13,220		15,140		—		(12%)
Allowance for loan and lease losses		(1,237)		(1,253)		(1,295)		(1%)		(4%)
Total Assets	$	140,344	$	140,140	$	142,920		—		(2%)
Liabilities
Interest-bearing liabilities:
Interest checking deposits	$	26,014	$	26,760	$	24,714		(3%)		5%
Savings deposits		14,238		14,117		14,576		1%		(2%)
Money market deposits		20,278		20,603		19,243		(2%)		5%
Foreign office deposits		380		454		484		(16%)		(21%)
Other time deposits		3,745		3,827		4,044		(2%)		(7%)
Certificates $100,000 and over		2,623		2,579		2,819		2%		(7%)
Other deposits		264		162		467		63%		(43%)
Federal funds purchased		311		639		693		(51%)		(55%)
Other short-term borrowings		4,194		1,893		3,754		NM		12%
Long-term debt		13,273		13,856		15,351		(4%)		(14%)
Total interest-bearing liabilities		85,320		84,890		86,145		1%		(1%)
Demand deposits		34,915		35,084		35,912		—		(3%)
Other liabilities		3,467		3,710		4,247		(7%)		(18%)
Total Liabilities		123,702		123,684		126,304		—		(2%)
Total Equity		16,642		16,456		16,616		1%		—
Total Liabilities and Equity	$	140,344	$	140,140	$	142,920		—		(2%)
	For the Three Months Ended						bps Change
	June		March		June
	2017		2017		2016		Seq		Yr/Yr
Yield Analysis
Interest-earning assets:
Commercial and industrial loans(a)		3.60%		3.47%		3.25%		13		35
Commercial mortgage loans(a)		3.65%		3.54%		3.28%		11		37
Commercial construction loans(a)		4.01%		3.77%		3.36%		24		65
Commercial leases(a)		2.73%		2.70%		2.71%		3		2
Residential mortgage loans		3.54%		3.57%		3.57%		(3)		(3)
Home equity		4.20%		3.98%		3.81%		22		39
Automobile loans		2.87%		2.81%		2.68%		6		19
Credit card		10.95%		12.92%		10.47%		(197)		48
Other consumer loans and leases		6.63%		6.49%		6.36%		14		27
Total loans and leases		3.74%		3.69%		3.45%		5		29
Taxable securities		3.05%		3.11%		3.16%		(6)		(11)
Tax exempt securities(a)		5.10%		5.79%		4.09%		(69)		101
Other short-term investments		0.99%		0.73%		0.43%		26		56
Total interest-earning assets		3.54%		3.51%		3.34%		3		20
Interest-bearing liabilities:
Interest checking deposits		0.38%		0.31%		0.22%		7		16
Savings deposits		0.06%		0.05%		0.05%		1		1
Money market deposits		0.34%		0.32%		0.26%		2		8
Foreign office deposits		0.18%		0.13%		0.15%		5		3
Other time deposits		1.23%		1.23%		1.24%		—		(1)
Certificates $100,000 and over		1.36%		1.35%		1.29%		1		7
Other deposits		0.98%		0.64%		0.40%		34		58
Federal funds purchased		0.94%		0.70%		0.39%		24		55
Other short-term borrowings		0.93%		0.55%		0.36%		38		57
Long-term debt		2.76%		2.65%		2.36%		11		40
Total interest-bearing liabilities		0.79%		0.73%		0.67%		6		12
Ratios:
Taxable equivalent net interest margin(b)		3.01%		3.02%		2.88%		(1)		13
Taxable equivalent net interest rate spread		2.75%		2.78%		2.67%		(3)		8
Interest-bearing liabilities to interest-earning assets		67.64%		67.39%		67.91%		25		(27)

(a) Presented on a fully taxable equivalent basis.

(b) Non-GAAP measure; see discussion of non-GAAP and Reg. G reconciliation beginning on page 32.

25

Fifth Third Bancorp and Subsidiaries    

Average Balance Sheet and Yield Analysis    

$ in millions, except share data    

(unaudited)

	Year to Date				% Change
	June 2017		June 2016		Yr/Yr
Assets
Interest-earning assets:
Commercial and industrial loans	$	41,773	$	43,503		(4%)
Commercial mortgage loans		6,903		6,871		—
Commercial construction loans		4,147		3,424		21%
Commercial leases		3,972		3,889		2%
Residential mortgage loans		15,912		14,623		9%
Home equity		7,482		8,150		(8%)
Automobile loans		9,597		11,086		(13%)
Credit card		2,111		2,238		(6%)
Other consumer loans and leases		824		659		25%
Taxable securities		31,954		29,811		7%
Tax exempt securities		61		82		(26%)
Other short-term investments		1,314		1,915		(31%)
Total interest-earning assets		126,050		126,251		—
Cash and due from banks		2,190		2,282		(4%)
Other assets		13,248		15,002		(12%)
Allowance for loan and lease losses		(1,245)		(1,284)		(3%)
Total Assets	$	140,243	$	142,251		(1%)
Liabilities
Interest-bearing liabilities:
Interest checking deposits	$	26,385	$	25,227		5%
Savings deposits		14,178		14,589		(3%)
Money market deposits		20,440		18,949		8%
Foreign office deposits		417		484		(14%)
Other time deposits		3,786		4,039		(6%)
Certificates $100,000 and over		2,601		2,817		(8%)
Other deposits		213		234		(9%)
Federal funds purchased		474		651		(27%)
Other short-term borrowings		3,050		3,659		(17%)
Long-term debt		13,562		15,148		(10%)
Total interest-bearing liabilities		85,106		85,797		(1%)
Demand deposits		34,999		35,557		(2%)
Other liabilities		3,589		4,386		(18%)
Total Liabilities		123,694		125,740		(2%)
Total Equity		16,549		16,511		—
Total Liabilities and Equity	$	140,243	$	142,251		(1%)
	Year to Date				bps Change
	June 2017		June 2016		Yr/Yr
Yield Analysis
Interest-earning assets:
Commercial and industrial loans(a)		3.53%		3.24%		29
Commercial mortgage loans(a)		3.60%		3.28%		32
Commercial construction loans(a)		3.89%		3.37%		52
Commercial leases(a)		2.71%		2.74%		(3)
Residential mortgage loans		3.55%		3.60%		(5)
Home equity		4.09%		3.80%		29
Automobile loans		2.84%		2.66%		18
Credit card		11.95%		10.56%		139
Other consumer loans and leases		6.57%		6.31%		26
Total loans and leases		3.72%		3.46%		26
Taxable securities		3.08%		3.15%		(7)
Tax exempt securities(a)		5.41%		4.20%		121
Other short-term investments		0.86%		0.42%		44
Total interest-earning assets		3.53%		3.34%		19
Interest-bearing liabilities:
Interest checking deposits		0.34%		0.23%		11
Savings deposits		0.05%		0.05%		—
Money market deposits		0.33%		0.25%		8
Foreign office deposits		0.15%		0.15%		—
Other time deposits		1.23%		1.23%		—
Certificates $100,000 and over		1.36%		1.29%		7
Other deposits		0.85%		0.40%		45
Federal funds purchased		0.78%		0.37%		41
Other short-term borrowings		0.81%		0.37%		44
Long-term debt		2.71%		2.29%		42
Total interest-bearing liabilities		0.76%		0.66%		10
Ratios:
Taxable equivalent net interest margin(b)		3.01%		2.89%		12
Taxable equivalent net interest rate spread		2.77%		2.68%		9
Interest-bearing liabilities to interest-earning assets		67.52%		67.96%		(44)

(a) Presented on a fully taxable equivalent basis.

(b) Non-GAAP measure; see discussion of non-GAAP and Reg. G reconciliation beginning on page 32.

26

Fifth Third Bancorp and Subsidiaries

Average Balance Sheet and Yield Analysis

$ in millions, except share data

(unaudited)

	For the Three Months Ended
	June 2017		March 2017		December 2016		September 2016		June 2016
Assets
Interest-earning assets:
Commercial and industrial loans	$	41,656	$	41,892	$	42,612	$	43,125	$	43,878
Commercial mortgage loans		6,861		6,946		6,961		6,891		6,835
Commercial construction loans		4,306		3,987		3,890		3,848		3,551
Commercial leases		4,039		3,904		3,921		3,963		3,904
Residential mortgage loans		16,024		15,800		15,802		15,346		14,842
Home equity		7,385		7,581		7,779		7,918		8,059
Automobile loans		9,410		9,786		10,162		10,508		10,887
Credit card		2,080		2,141		2,180		2,165		2,198
Other consumer loans and leases		892		754		674		653		653
Taxable securities		32,092		31,815		30,677		29,772		30,002
Tax exempt securities		68		55		81		76		85
Other short-term investments		1,321		1,307		1,809		1,827		1,953
Total interest-earning assets		126,134		125,968		126,548		126,092		126,847
Cash and due from banks		2,175		2,205		2,358		2,289		2,228
Other assets		13,272		13,220		14,203		15,644		15,140
Allowance for loan and lease losses		(1,237)		(1,253)		(1,272)		(1,299)		(1,295)
Total Assets	$	140,344	$	140,140	$	141,837	$	142,726	$	142,920
Liabilities
Interest-bearing liabilities:
Interest checking deposits	$	26,014	$	26,760	$	25,644	$	24,475	$	24,714
Savings deposits		14,238		14,117		13,979		14,232		14,576
Money market deposits		20,278		20,603		20,476		19,706		19,243
Foreign office deposits		380		454		497		524		484
Other time deposits		3,745		3,827		3,941		4,020		4,044
Certificates $100,000 and over		2,623		2,579		2,539		2,768		2,819
Other deposits		264		162		115		749		467
Federal funds purchased		311		639		280		446		693
Other short-term borrowings		4,194		1,893		1,908		2,171		3,754
Long-term debt		13,273		13,856		15,173		16,102		15,351
Total interest-bearing liabilities		85,320		84,890		84,552		85,193		86,145
Demand deposits		34,915		35,084		36,412		35,918		35,912
Other liabilities		3,467		3,710		4,300		4,704		4,247
Total Liabilities		123,702		123,684		125,264		125,815		126,304
Total Equity		16,642		16,456		16,573		16,911		16,616
Total Liabilities and Equity	$	140,344	$	140,140	$	141,837	$	142,726	$	142,920
Yield Analysis
Interest-earning assets:
Commercial and industrial loans(a)		3.60%		3.47%		3.33%		3.28%		3.25%
Commercial mortgage loans(a)		3.65%		3.54%		3.42%		3.31%		3.28%
Commercial construction loans(a)		4.01%		3.77%		3.50%		3.43%		3.36%
Commercial leases(a)		2.73%		2.70%		2.64%		2.64%		2.71%
Residential mortgage loans		3.54%		3.57%		3.48%		3.51%		3.57%
Home equity		4.20%		3.98%		3.73%		3.76%		3.81%
Automobile loans		2.87%		2.81%		2.80%		2.71%		2.68%
Credit card		10.95%		12.92%		7.30%		10.34%		10.47%
Other consumer loans and leases		6.63%		6.49%		6.73%		6.90%		6.36%
Total loans and leases		3.74%		3.69%		3.43%		3.46%		3.45%
Taxable securities		3.05%		3.11%		3.17%		3.18%		3.16%
Tax exempt securities(a)		5.10%		5.79%		4.76%		4.91%		4.09%
Other short-term investments		0.99%		0.73%		0.47%		0.44%		0.43%
Total interest-earning assets		3.54%		3.51%		3.33%		3.36%		3.34%
Interest-bearing liabilities:
Interest checking deposits		0.38%		0.31%		0.25%		0.23%		0.22%
Savings deposits		0.06%		0.05%		0.04%		0.04%		0.05%
Money market deposits		0.34%		0.32%		0.30%		0.27%		0.26%
Foreign office deposits		0.18%		0.13%		0.15%		0.17%		0.15%
Other time deposits		1.23%		1.23%		1.24%		1.24%		1.24%
Certificates $100,000 and over		1.36%		1.35%		1.35%		1.28%		1.29%
Other deposits		0.98%		0.64%		0.41%		0.41%		0.40%
Federal funds purchased		0.94%		0.70%		0.41%		0.40%		0.39%
Other short-term borrowings		0.93%		0.55%		0.36%		0.30%		0.36%
Long-term debt		2.76%		2.65%		2.42%		2.40%		2.36%
Total interest-bearing liabilities		0.79%		0.73%		0.70%		0.70%		0.67%
Ratios:
Taxable equivalent net interest margin(b)		3.01%		3.02%		2.86%		2.88%		2.88%
Taxable equivalent net interest rate spread		2.75%		2.78%		2.63%		2.66%		2.67%
Interest-bearing liabilities to interest-earning assets		67.64%		67.39%		66.81%		67.56%		67.91%

(a) Presented on a fully taxable equivalent basis.

(b) Non-GAAP measure; see discussion of non-GAAP and Reg. G reconciliation beginning on page 32.

27

Fifth Third Bancorp and Subsidiaries    

Summary of Loans and Leases    

$ in millions    

(unaudited)    

	For the Three Months Ended
	June 2017		March 2017		December 2016		September 2016		June 2016
Average Portfolio Loans and Leases
Commercial loans and leases:
Commercial and industrial loans	$	41,601	$	41,854	$	42,548	$	43,116	$	43,876
Commercial mortgage loans		6,845		6,941		6,957		6,888		6,831
Commercial construction loans		4,306		3,987		3,890		3,848		3,551
Commercial leases		4,036		3,901		3,921		3,962		3,898
Total commercial loans and leases		56,788		56,683		57,316		57,814		58,156
Consumer loans and leases:
Residential mortgage loans		15,417		15,200		14,854		14,455		14,046
Home equity		7,385		7,581		7,779		7,918		8,054
Automobile loans		9,410		9,786		10,162		10,508		10,887
Credit card		2,080		2,141		2,180		2,165		2,134
Other consumer loans and leases		892		755		673		651		654
Total consumer loans and leases		35,184		35,463		35,648		35,697		35,775
Total average portfolio loans and leases	$	91,972	$	92,146	$	92,964	$	93,511	$	93,931
Average loans held for sale	$	681	$	645	$	1,017	$	906	$	876
End of Period Portfolio Loans and Leases
Commercial loans and leases:
Commercial and industrial loans	$	40,914	$	41,074	$	41,676	$	42,727	$	43,558
Commercial mortgage loans		6,868		6,924		6,899		6,856		6,875
Commercial construction loans		4,366		4,283		3,903		3,905		3,706
Commercial leases		4,157		4,092		3,974		3,995		3,978
Total commercial loans and leases		56,305		56,373		56,452		57,483		58,117
Consumer loans and leases:
Residential mortgage loans		15,460		15,336		15,051		14,643		14,307
Home equity		7,301		7,469		7,695		7,864		7,988
Automobile loans		9,318		9,572		9,983		10,349		10,671
Credit card		2,117		2,070		2,237		2,169		2,172
Other consumer loans and leases		945		808		680		643		654
Total consumer loans and leases		35,141		35,255		35,646		35,668		35,792
Total portfolio loans and leases	$	91,446	$	91,628	$	92,098	$	93,151	$	93,909
Total loans held for sale	$	766	$	616	$	751	$	1,060	$	877
Operating lease equipment	$	719	$	702	$	738	$	771	$	756
Loans and leases serviced for others:(a)
Commercial and industrial loans	$	495	$	515	$	519	$	544	$	567
Commercial mortgage loans		242		223		226		226		229
Commercial construction loans		62		54		41		38		24
Commercial leases		261		270		280		270		282
Residential mortgage loans		61,803		55,413		53,554		54,646		56,170
Automobile loans		—		—		51		66		83
Total loans and leases serviced for others		62,863		56,475		54,671		55,790		57,355
Total loans and leases serviced	$	155,794	$	149,421	$	148,258	$	150,772	$	152,897

(a) Fifth Third sells certain loans and leases and obtains servicing responsibilities.

28

Fifth Third Bancorp and Subsidiaries

Regulatory Capital

$ in millions

(unaudited)

	As of
	June 2017(a)		March 2017		December 2016		September 2016		June 2016
Regulatory capital:
Common stock and related surplus (net of treasury stock)	$	1,063	$	1,407	$	1,374	$	1,510	$	1,728
Retained earnings		13,862		13,625		13,441		13,175		12,772
Common equity tier I capital adjustments and deductions		(2,403)		(2,396)		(2,389)		(2,386)		(2,388)
CET1 capital		12,522		12,636		12,426		12,299		12,112
Additional tier I capital		1,331		1,331		1,330		1,331		1,331
Tier I capital		13,853		13,967		13,756		13,630		13,443
Tier II capital		4,074		4,172		4,216		4,374		4,414
Total regulatory capital	$	17,927	$	18,139	$	17,972	$	18,004	$	17,857
Risk-weighted assets(b)	$	117,771	$	117,407	$	119,632	$	120,954	$	121,824
Ratios:
Average shareholders’ equity to average assets		11.84%		11.72%		11.66%		11.83%		11.60%
Regulatory Capital Ratios:
Fifth Third Bancorp
CET1 capital(b)		10.63%		10.76%		10.39%		10.17%		9.94%
Tier I risk-based capital(b)		11.76%		11.90%		11.50%		11.27%		11.03%
Total risk-based capital(b)		15.22%		15.45%		15.02%		14.88%		14.66%
Tier I leverage		10.07%		10.15%		9.90%		9.80%		9.64%
CET1 capital (fully phased-in)(b)(c)		10.52%		10.66%		10.29%		10.09%		9.86%
Fifth Third Bank
Tier I risk-based capital(b)		12.24%		12.17%		11.92%		11.98%		11.83%
Total risk-based capital(b)		14.08%		14.03%		13.76%		13.82%		13.67%
Tier I leverage		10.50%		10.41%		10.30%		10.46%		10.37%

(a) Current period regulatory capital data and ratios are estimated.

(b) Under the banking agencies’ Basel III Final Rule, assets and credit equivalent amounts of off-balance sheet exposures are calculated according to the standardized approach for risk-weighted assets. The resulting weighted values are added together resulting in the total risk-weighted assets.

(c) Non-GAAP measure; see discussion of non-GAAP and Reg. G reconciliation beginning on page 32.

29

Fifth Third Bancorp and Subsidiaries    

Summary of Credit Loss Experience    

$ in millions    

(unaudited)

	For the Three Months Ended
	June 2017		March 2017		December 2016		September 2016		June 2016
Average portfolio loans and leases:
Commercial and industrial loans	$	41,601	$	41,854	$	42,548	$	43,116	$	43,876
Commercial mortgage loans		6,845		6,941		6,957		6,888		6,831
Commercial construction loans		4,306		3,987		3,890		3,848		3,551
Commercial leases		4,036		3,901		3,921		3,962		3,898
Residential mortgage loans		15,417		15,200		14,854		14,455		14,046
Home equity		7,385		7,581		7,779		7,918		8,054
Automobile loans		9,410		9,786		10,162		10,508		10,887
Credit card		2,080		2,141		2,180		2,165		2,134
Other consumer loans and leases		892		755		673		651		654
Total average portfolio loans and leases	$	91,972	$	92,146	$	92,964	$	93,511	$	93,931
Losses charged-off:
Commercial and industrial loans	($	34)	($	39)	($	35)	($	76)	($	43)
Commercial mortgage loans		(6)		(6)		(4)		(4)		(7)
Commercial construction loans		—		—		—		—		—
Commercial leases		(1)		(1)		(1)		(1)		(1)
Residential mortgage loans		(4)		(6)		(4)		(4)		(5)
Home equity		(9)		(9)		(10)		(10)		(10)
Automobile loans		(12)		(17)		(15)		(14)		(12)
Credit card		(24)		(24)		(21)		(22)		(23)
Other consumer loans and leases		(5)		(5)		(7)		(6)		(4)
Total losses charged-off	($	95)	($	107)	($	97)	($	137)	($	105)
Recoveries of losses previously charged-off:
Commercial and industrial loans	$	16	$	3	$	10	$	15	$	4
Commercial mortgage loans		1		1		2		2		1
Commercial construction loans		—		—		—		—		—
Commercial leases		—		—		—		1		—
Residential mortgage loans		2		1		2		2		3
Home equity		4		3		4		3		4
Automobile loans		6		6		4		5		4
Credit card		2		2		2		2		2
Other consumer loans and leases		—		2		—		—		—
Total recoveries of losses previously charged-off	$	31	$	18	$	24	$	30	$	18
Net losses charged-off:
Commercial and industrial loans	($	18)	($	36)	($	25)	($	61)	($	39)
Commercial mortgage loans		(5)		(5)		(2)		(2)		(6)
Commercial construction loans		—		—		—		—		—
Commercial leases		(1)		(1)		(1)		—		(1)
Residential mortgage loans		(2)		(5)		(2)		(2)		(2)
Home equity		(5)		(6)		(6)		(7)		(6)
Automobile loans		(6)		(11)		(11)		(9)		(8)
Credit card		(22)		(22)		(19)		(20)		(21)
Other consumer loans and leases		(5)		(3)		(7)		(6)		(4)
Total net losses charged-off	($	64)	($	89)	($	73)	($	107)	($	87)
Net losses charged-off as a percent of average portfolio loans and leases:
Commercial and industrial loans		0.17%		0.34%		0.24%		0.56%		0.36%
Commercial mortgage loans		0.33%		0.29%		0.11%		0.08%		0.38%
Commercial construction loans		0.00%		0.00%		0.00%		0.00%		0.00%
Commercial leases		0.06%		0.08%		0.12%		0.00%		0.09%
Residential mortgage loans		0.04%		0.13%		0.06%		0.07%		0.06%
Home equity		0.27%		0.33%		0.35%		0.32%		0.30%
Automobile loans		0.27%		0.48%		0.40%		0.35%		0.26%
Credit card		4.22%		4.03%		3.52%		3.61%		3.92%
Other consumer loans and leases		2.31%		2.89%		3.30%		3.70%		2.42%
Total net losses charged-off as a percent of average portfolio loans and leases		0.28%		0.40%		0.31%		0.45%		0.37%

30

Fifth Third Bancorp and Subsidiaries    

Asset Quality    

$ in millions    

(unaudited)

	For the Three Months Ended
	June 2017		March 2017		December 2016		September 2016		June 2016
Allowance for Credit Losses
Allowance for loan and lease losses, beginning	$	1,238	$	1,253	$	1,272	$	1,299	$	1,295
Total net losses charged-off		(64)		(89)		(73)		(107)		(87)
Provision for loan and lease losses		52		74		54		80		91
Allowance for loan and lease losses, ending	$	1,226	$	1,238	$	1,253	$	1,272	$	1,299
Reserve for unfunded commitments, beginning	$	159	$	161	$	162	$	151	$	144
Provision for unfunded commitments		3		(2)		(1)		11		7
Reserve for unfunded commitments, ending	$	162	$	159	$	161	$	162	$	151
Components of allowance for credit losses:
Allowance for loan and lease losses	$	1,226	$	1,238	$	1,253	$	1,272	$	1,299
Reserve for unfunded commitments		162		159		161		162		151
Total allowance for credit losses	$	1,388	$	1,397	$	1,414	$	1,434	$	1,450
	As of
	June 2017		March 2017		December 2016		September 2016		June 2016
Nonperforming Assets and Delinquent Loans
Nonaccrual portfolio loans and leases:
Commercial and industrial loans	$	225	$	251	$	302	$	235	$	254
Commercial mortgage loans		15		21		27		31		39
Commercial leases		1		—		2		—		4
Residential mortgage loans		19		21		17		19		27
Home equity		52		53		55		59		61
Total nonaccrual portfolio loans and leases (excludes restructured loans)		312		346		403		344		385
Nonaccrual restructured portfolio commercial loans and leases		244		251		192		194		242
Nonaccrual restructured portfolio consumer loans and leases		58		60		65		63		66
Total nonaccrual portfolio loans and leases		614		657		660		601		693
Repossessed property		11		14		15		13		15
OREO		37		50		63		84		97
Total nonperforming portfolio assets		662		721		738		698		805
Nonaccrual loans held for sale		7		7		4		91		20
Nonaccrual restructured loans held for sale		1		2		9		9		—
Total nonperforming assets	$	670	$	730	$	751	$	798	$	825
Restructured portfolio consumer loans and leases (accrual)	$	933	$	950	$	959	$	972	$	982
Restructured portfolio commercial loans and leases (accrual)	$	224	$	277	$	321	$	408	$	431
90 days past due loans and leases (accrual):
Commercial and industrial loans	$	3	$	3	$	4	$	7	$	2
Commercial mortgage loans		—		—		—		—		—
Commercial construction loans		—		—		—		—		—
Commercial leases		—		—		—		—		—
Total commercial loans and leases		3		3		4		7		2
Residential mortgage loans		45		45		49		43		38
Home equity		—		—		—		—		—
Automobile loans		7		6		9		8		7
Credit card		20		21		22		18		18
Other consumer loans and leases		—		—		—		—		—
Total consumer loans and leases		72		72		80		69		63
Total 90 days past due loans and leases (accrual)(b)	$	75	$	75	$	84	$	76	$	65
Ratios
Net losses charged-off as a percent of average portfolio loans and leases		0.28%		0.40%		0.31%		0.45%		0.37%
Allowance for loan and lease losses:
As a percent of portfolio loans and leases		1.34%		1.35%		1.36%		1.37%		1.38%
As a percent of nonperforming loans and leases(a)		200%		188%		190%		212%		188%
As a percent of nonperforming assets(a)		185%		172%		170%		182%		161%
Nonperforming loans and leases as a percent of portfolio loans and leases and OREO(a)		0.67%		0.72%		0.72%		0.64%		0.74%
Nonperforming assets as a percent of portfolio loans, leases and other assets, including OREO(a)		0.72%		0.79%		0.80%		0.75%		0.86%
Nonperforming assets as a percent of total loans, leases and other assets, including OREO		0.73%		0.79%		0.81%		0.85%		0.87%
Allowance for credit losses as a percent of nonperforming assets		210%		194%		192%		205%		180%

(a) Does not include nonaccrual loans held for sale.

(b) Does not include loans held for sale.

31

Use of Non-GAAP Financial Measures

In addition to GAAP measures, management considers various Non-GAAP measures when evaluating the performance of the business, including: “taxable equivalent net interest income,” “adjusted taxable equivalent net interest income,” “taxable equivalent net interest margin,” “adjusted taxable equivalent net interest margin,” “efficiency ratio,” “taxable equivalent income before income taxes,” “noninterest income excluding certain items,” “adjusted noninterest income,” “adjusted noninterest income excluding mortgage banking net revenue,” “tangible net income available to common shareholders,” “average tangible common equity,” “tangible common equity,” “tangible equity,” “tangible book value per common share,” and “Common Equity Tier 1 under Basel III Final Rule (fully phased-in),” and certain ratios derived from these measures.

The taxable equivalent basis adjusts for the tax-favored status of income from certain loans and securities held by the Bancorp that are not taxable for federal income tax purposes. The Bancorp believes this presentation to be the preferred industry measurement of net interest income as it provides a relevant comparison between taxable and non-taxable amounts.

Noninterest income excluding certain items is provided by management to assist the reader in identifying significant, unusual, or large transactions that impacted noninterest income. Adjusted taxable equivalent net interest income and adjusted taxable equivalent net interest margin are provided by management to assist the reader in identifying significant, unusual, or large transactions that impacted net interest income.

Management considers various measures when evaluating capital utilization and adequacy, including the tangible equity and tangible common equity (including and excluding unrealized gains/losses), in addition to capital ratios defined by the U.S. banking agencies. These calculations are intended to complement the capital ratios defined by the U.S. banking agencies for both absolute and comparative purposes. These ratios are not formally defined by U.S. GAAP or codified in the federal banking regulations and, therefore, are considered to be Non-GAAP financial measures. Management believes that providing the tangible common equity ratio excluding unrealized gains/losses on certain assets and liabilities enables investors and others to assess the Bancorp’s use of equity without the effects of gains or losses some of which are uncertain and providing the tangible common equity ratio including unrealized gains/losses enables investors and others to assess the Bancorp’s use of equity if all unrealized gains or losses were to be monetized.

Management believes tangible book value per share and return on average tangible common equity are important measures for evaluating the performance of a business as it calculates the return available to common shareholders and book value of common stock without the impact of intangible assets and their related amortization. This is useful for evaluating the performance of a business consistently, whether acquired or developed internally, compared to other companies in the industry who present similar measures.

The Bancorp became subject to the Basel III Final Rule on January 1, 2015 which defined various regulatory capital ratios including the Common Equity Tier 1 (“CET1”) ratio. The CET1 capital ratio has transition provisions that will be phased out over time. CET1 capital ratio is presented on a fully phased-in basis for comparative purposes with other organizations. The Bancorp considers the fully phased-in CET1 ratio a Non-GAAP measure since it is not the CET1 ratio in effect for the periods presented. Since analysts and the U.S. banking agencies may assess the Bancorp’s capital adequacy using these ratios, management believes they are useful to provide investors the ability to assess its capital adequacy on the same basis.

Please note that although Non-GAAP financial measures provide useful insight, they should not be considered in isolation or relied upon as a substitute for analysis using GAAP measures.

Please see page 33 for Reg. G reconciliations of all historical Non-GAAP measures used in this release to the most directly comparable GAAP measures. Management has provided forward-looking guidance on certain Non-GAAP measures in connection with its earnings presentation in order to facilitate comparability with the Bancorp’s historical performance and financial condition as reflected in these Non-GAAP measures. Such forward-looking Non-GAAP measures include return on tangible common equity; taxable equivalent net interest margin; adjusted net interest margin; taxable equivalent net interest income; adjusted noninterest income; adjusted noninterest income excluding mortgage banking net revenue; and noninterest income, excluding certain transactions and adjustments related to the Bancorp’s investment in Vantiv, Visa total return swap, and branch sales, closures and consolidations. Bancorp’s management does not estimate on a forward-looking basis the impact of items similar to those that it has excluded to generate these Non-GAAP measures on a historical basis because the occurrence and amounts of items such as these are difficult to predict. As a result, the Bancorp has not provided reconciliations of its forward-looking Non-GAAP measures.

32

Fifth Third Bancorp and Subsidiaries

Regulation G Non-GAAP Reconciliation

$ and shares in millions

(unaudited)

		For the Three Months Ended
		June 2017		March 2017		December 2016		September 2016(4)		June 2016(4)
Net interest income (U.S. GAAP)		$	939	$	933	$	903	$	907	$	902
Add:	Taxable equivalent adjustment		6		6		6		6		6
Taxable equivalent net interest income (a)			945		939		909		913		908
Net interest income (U.S. GAAP) (annualized) (b)			3,766		3,784		3,592		3,608		3,628
Taxable equivalent net interest income (annualized) (c)			3,790		3,808		3,616		3,632		3,652
Taxable equivalent net interest income			945		939		909
Add (subtract): Bankcard refunds			—		(12)		16
Adjusted taxable equivalent net interest income (d)			945		927		925
Adjusted taxable equivalent net interest income (annualized) (e)			3,790		3,760		3,680
Noninterest income (f)			564		523		620		840		599
Noninterest expense (g)			957		986		960		973		983
Average interest-earning assets (h)			126,134		125,968		126,548		126,092		126,847
Net interest margin (U.S. GAAP) (b)/(h)			2.99%		3.00%		2.84%		2.86%		2.86%
Taxable equivalent net interest margin (c)/(h)			3.01%		3.02%		2.86%		2.88%		2.88%
Adjusted net interest margin (e)/(h)			3.01%		2.98%		2.91%
Taxable equivalent efficiency ratio (g)/(a)+(f)			63.4%		67.4%		62.8%		55.5%		65.3%
Income before income taxes (U.S. GAAP)		$	494	$	396	$	509	$	694	$	427
Add:	Taxable equivalent adjustment		6		6		6		6		6
Taxable equivalent income before income taxes		$	500	$	402	$	515	$	700	$	433
Net income available to common shareholders (U.S. GAAP)			344		290		372		501		305
Add:	Intangible amortization, net of tax		—		—		—		—		—
Tangible net income available to common shareholders			344		290		372		501		305
Tangible net income available to common shareholders (annualized) (i)			1,380		1,176		1,480		1,993		1,227
Average Bancorp shareholders’ equity (U.S. GAAP)			16,615		16,429		16,545		16,883		16,584
Less:	Average preferred stock		(1,331)		(1,331)		(1,331)		(1,331)		(1,331)
	Average goodwill		(2,424)		(2,416)		(2,416)		(2,416)		(2,416)
	Average intangible assets and other servicing rights		(18)		(10)		(10)		(10)		(11)
Average tangible common equity (j)			12,842		12,672		12,788		13,126		12,826
Total Bancorp shareholders’ equity (U.S. GAAP)			16,419		16,430		16,205		16,776		16,726
Less:	Preferred stock		(1,331)		(1,331)		(1,331)		(1,331)		(1,331)
	Goodwill		(2,423)		(2,419)		(2,416)		(2,416)		(2,416)
	Intangible assets and other servicing rights		(18)		(11)		(10)		(10)		(11)
Tangible common equity, including unrealized gains / losses (k)			12,647		12,669		12,448		13,019		12,968
Less:	Accumulated other comprehensive income		(163)		(68)		(59)		(755)		(889)
Tangible common equity, excluding unrealized gains / losses (l)			12,484		12,601		12,389		12,264		12,079
Add:	Preferred stock		1,331		1,331		1,331		1,331		1,331
Tangible equity (m)			13,815		13,932		13,720		13,595		13,410
Total assets (U.S. GAAP)			141,067		140,200		142,177		143,279		143,625
Less:	Goodwill		(2,423)		(2,419)		(2,416)		(2,416)		(2,416)
	Intangible assets and other servicing rights		(18)		(11)		(10)		(10)		(11)
Tangible assets, including unrealized gains / losses (n)			138,626		137,770		139,751		140,853		141,198
Less:	Accumulated other comprehensive income / loss, before tax		(251)		(105)		(91)		(1,162)		(1,368)
Tangible assets, excluding unrealized gains / losses (o)		$	138,375	$	137,665	$	139,660	$	139,691	$	139,830
Common shares outstanding (p)			739		750		750		756		766
Risk-weighted assets (actual) (q) (1)		$	117,771	$	117,407	$	119,632	$	120,954	$	121,824
Ratios:
Return on average tangible common equity (i) / (j)			10.7%		9.3%		11.6%		15.2%		9.6%
Tangible equity (m) / (o)			9.98%		10.12%		9.82%		9.73%		9.59%
Tangible common equity (excluding unrealized gains/losses) (l) / (o)			9.02%		9.15%		8.87%		8.78%		8.64%
Tangible common equity (including unrealized gains/losses) (k) / (n)			9.12%		9.20%		8.91%		9.24%		9.18%
Tangible book value per share (k) / (p)		$	17.11	$	16.89	$	16.60	$	17.22	$	16.93
Basel III Final Rule - Transition to Fully Phased-In
CET1 capital (transitional)		$	12,522	$	12,636	$	12,426	$	12,299	$	12,112
Less: Adjustments to CET1 capital from transitional to fully phased-in (2)			(4)		(2)		(4)		(4)		(4)
CET1 capital (fully phased-in) (r)			12,518		12,634		12,422		12,295		12,108
Risk-weighted assets (transitional)			117,771		117,407		119,632		120,954		121,824
Add: Adjustments to risk-weighted assets from transitional to fully phased-in (3)			1,274		1,164		1,115		929		932
Risk-weighted assets (fully phased-in) (s)		$	119,045	$	118,571	$	120,747	$	121,883	$	122,756
Estimated CET1 capital ratio under Basel III Final Rule (fully phased-in) (r)/(s)			10.52%		10.66%		10.29%		10.09%		9.86%

(1) Under the banking agencies’ risk-based capital guidelines, assets and off-balance sheet exposures are assigned to various risk categories based upon the Standardized Approach to Risk-Weighted Assets.

(2) Primarily relates to disallowed intangible assets (other than goodwill and MSRs, net of associated deferred tax liabilities).

(3) Primarily relates to higher risk-weighting for MSRs.

(4) Net tax deficiencies of $1 million, $5 million and $0 were reclassified from capital surplus to applicable income tax expense at March 31, 2016, June 30, 2016 and September 30, 2016, respectively, related to the early adoption of ASU 2016-09 during the fourth quarter of 2016, with an effective date of January 1, 2016.

33

Fifth Third Bancorp and Subsidiaries

Segment Presentation

$ in millions

(unaudited)

For the three months ended June 30, 2017	Commercial Banking		Branch Banking(b)		Consumer Lending(c)		Wealth and Asset Management		Other/ Eliminations		Total
Taxable equivalent net interest income(a)	$	421	$	437	$	59	$	37	($	9)	$	945
(Provision for) benefit from loan and lease losses		(22)		(39)		(7)		1		15		(52)
Net interest income after provision for loan and lease losses		399		398		52		38		6		893
Total noninterest income		228		189		62		101		(16)		564
Total noninterest expense		(345)		(399)		(123)		(110)		20		(957)
Income (loss) before income taxes		282		188		(9)		29		10		500
Applicable income tax expense(a)		(55)		(66)		3		(10)		(5)		(133)
Net income (loss)		227		122		(6)		19		5		367
Less: Net income attributable to noncontrolling interests		—		—		—		—		—		—
Net income (loss) attributable to Bancorp		227		122		(6)		19		5		367
Dividends on preferred stock		—		—		—		—		23		23
Net income (loss) available to common shareholders	$	227	$	122	($	6)	$	19	($	18)	$	344
For the three months ended March 31, 2017	Commercial Banking		Branch Banking(b)		Consumer Lending(c)		Wealth and Asset Management		Other/ Eliminations		Total
Taxable equivalent net interest income(a)	$	431	$	430	$	61	$	38	($	21)	$	939
Provision for loan and lease losses		(6)		(42)		(15)		(4)		(7)		(74)
Net interest income after provision for loan and lease losses		425		388		46		34		(28)		865
Total noninterest income		202		184		55		106		(24)		523
Total noninterest expense		(370)		(402)		(120)		(113)		19		(986)
Income (loss) before income taxes		257		170		(19)		27		(33)		402
Applicable income tax expense(a)		(46)		(60)		7		(10)		12		(97)
Net income (loss)		211		110		(12)		17		(21)		305
Less: Net income attributable to noncontrolling interests		—		—		—		—		—		—
Net income (loss) attributable to Bancorp		211		110		(12)		17		(21)		305
Dividends on preferred stock		—		—		—		—		15		15
Net income (loss) available to common shareholders	$	211	$	110	($	12)	$	17	($	36)	$	290
For the three months ended December 31, 2016	Commercial Banking		Branch Banking(b)		Consumer Lending(c)		Wealth and Asset Management		Other/ Eliminations		Total
Taxable equivalent net interest income(a)	$	453	$	397	$	63	$	41	($	45)	$	909
(Provision for) benefit from loan and lease losses		43		(34)		(12)		—		(51)		(54)
Net interest income after provision for loan and lease losses		496		363		51		41		(96)		855
Total noninterest income		221		188		69		99		43		620
Total noninterest expense		(359)		(400)		(117)		(103)		19		(960)
Income (loss) before income taxes		358		151		3		37		(34)		515
Applicable income tax expense(a)		(78)		(53)		(1)		(13)		25		(120)
Net income (loss)		280		98		2		24		(9)		395
Less: Net income attributable to noncontrolling interests		—		—		—		—		—		—
Net income (loss) attributable to Bancorp		280		98		2		24		(9)		395
Dividends on preferred stock		—		—		—		—		23		23
Net income (loss) available to common shareholders	$	280	$	98	$	2	$	24	($	32)	$	372
For the three months ended September 30, 2016	Commercial Banking		Branch Banking(b)		Consumer Lending(c)		Wealth and Asset Management		Other/ Eliminations(d)		Total(d)
Taxable equivalent net interest income(a)	$	462	$	414	$	63	$	40	($	66)	$	913
(Provision for) benefit from loan and lease losses		18		(34)		(12)		—		(52)		(80)
Net interest income after provision for loan and lease losses		480		380		51		40		(118)		833
Total noninterest income		228		163		71		99		279		840
Total noninterest expense		(349)		(402)		(117)		(103)		(2)		(973)
Income before income taxes		359		141		5		36		159		700
Applicable income tax expense(a)		(80)		(50)		(2)		(13)		(39)		(184)
Net income		279		91		3		23		120		516
Less: Net income attributable to noncontrolling interests		—		—		—		—		—		—
Net income attributable to Bancorp		279		91		3		23		120		516
Dividends on preferred stock		—		—		—		—		15		15
Net income available to common shareholders	$	279	$	91	$	3	$	23	$	105	$	501
For the three months ended June 30, 2016	Commercial Banking		Branch Banking(b)		Consumer Lending(c)		Wealth and Asset Management		Other/ Eliminations(d)		Total(d)
Taxable equivalent net interest income(a)	$	466	$	433	$	62	$	44	($	97)	$	908
(Provision for) benefit from loan and lease losses		(72)		(35)		(9)		(1)		26		(91)
Net interest income after provision for loan and lease losses		394		398		53		43		(71)		817
Total noninterest income		236		214		80		100		(31)		599
Total noninterest expense		(355)		(409)		(122)		(108)		11		(983)
Income (loss) before income taxes		275		203		11		35		(91)		433
Applicable income tax expense(a)		(49)		(71)		(4)		(12)		27		(109)
Net income (loss)		226		132		7		23		(64)		324
Less: Net income attributable to noncontrolling interests		—		—		—		—		(4)		(4)
Net income (loss) attributable to Bancorp		226		132		7		23		(60)		328
Dividends on preferred stock		—		—		—		—		23		23
Net income (loss) available to common shareholders	$	226	$	132	$	7	$	23	($	83)	$	305

(a) Includes taxable equivalent adjustments of $6 million for the three months ended June 30, 2017, March 31, 2017, December 31, 2016, September 30, 2016 and June 30, 2016.

(b) Branch Banking provides a full range of deposit and loan and lease products to individuals and small businesses through full-service banking centers.

(c) Consumer Lending includes the Bancorp’s residential mortgage, home equity, automobile and other indirect lending activities.

(d) Net tax deficiencies of $5 million and $0 were reclassified from capital surplus to applicable income tax expense at June 30, 2016 and September 30, 2016, respectively, related to the early adoption of ASU 2016-09 during the fourth quarter of 2016, with an effective date of January 1, 2016.

34

EX-99.2

2Q17 Earnings Presentation

July 21, 2017

Refer to earnings release dated July 21, 2017 for further information.

Exhibit 99.2

2

©  Fifth Third Bancorp | All Rights Reserved

Cautionary statement

This presentation contains statements that we believe are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Rule

175 promulgated thereunder, and Section 21E of the Securities Exchange Act of 1934, as amended, and Rule 3b-6 promulgated thereunder. These statements relate to our

financial condition, results of operations, plans, objectives, future performance or business. They usually can be identified

by

the use of forward-looking language such as “will

likely result,” “may,” “are expected to,” “anticipates,” “potential,” “estimate,” “forecast,” “projected,” “intends to,” or may include other similar words or phrases such as “believes,”

“plans,” “trend,” “objective,” “continue,” “remain,” or similar expressions, or future or conditional verbs such as “will,” “would,” “should,” “could,” “might,” “can,” or similar verbs.

You should not place undue reliance on these statements, as they are subject to risks and uncertainties, including but not limited to the risk factors set forth in our most recent

Annual Report on Form 10-K as updated from time to time by our Quarterly Reports on Form 10-Q. When considering these forward-looking statements, you should keep in

mind these risks and uncertainties, as well as any cautionary statements we may make. Moreover, you should treat these statements as speaking only as of the date they are

made and based only on information then actually known to us. There is a risk that additional information may become known during the company’s quarterly closing process or

as a result of subsequent events that could affect the accuracy of the statements and financial information contained herein.

There are a number of important factors that could cause future results to differ materially from historical performance and these forward-looking statements. Factors that might

cause such a difference include, but are not limited to: (1) general economic or real estate market conditions, either nationally or in the states in which Fifth Third, one or more

acquired entities and/or the combined company do business, weaken or are less favorable than expected; (2) deteriorating credit quality; (3) political developments, wars or

other hostilities may disrupt or increase volatility in securities markets or other economic conditions; (4) changes in the interest rate environment reduce interest margins; (5)

prepayment speeds, loan origination and sale volumes, charge-offs and loan loss provisions; (6) Fifth Third’s ability to maintain required capital levels and adequate sources of

funding and liquidity; (7) maintaining capital requirements and adequate sources of funding and liquidity may limit Fifth Third’s operations and potential growth; (8) changes and

trends in capital markets; (9) problems encountered by larger or similar financial institutions may adversely affect the banking

industry and/or Fifth Third; (10) competitive

pressures among depository institutions increase significantly; (11) changes in customer preferences or information technology systems; (12) effects of critical accounting

policies and judgments; (13) changes in accounting policies or procedures as may be required by the Financial Accounting Standards Board (FASB) or other regulatory

agencies; (14) legislative or regulatory changes or actions, or significant litigation, adversely affect Fifth Third, one or more acquired entities and/or the combined company or

the businesses in which Fifth Third, one or more acquired entities and/or the combined company are engaged, including the Dodd-Frank Wall Street Reform and Consumer

Protection Act; (15) ability to maintain favorable ratings from rating agencies; (16) failure of models or risk management systems or controls; (17) fluctuation of Fifth Third’s

stock price; (18) ability to attract and retain key personnel; (19) ability to receive dividends from its subsidiaries; (20) potentially dilutive effect of future acquisitions on current

shareholders’ ownership of Fifth Third; (21) declines in the value of Fifth Third’s goodwill or other intangible assets; (22)

effects of accounting or financial results of one or more

acquired entities; (23) difficulties from Fifth Third’s investment in, relationship with, and nature of the operations of Vantiv

Holding, LLC; (24) loss of income from any sale or

potential sale of businesses (25) difficulties in separating the operations of any branches or other assets divested; (26) losses or adverse impacts on the carrying values of

branches and long-lived assets in connection with their sales or anticipated sales; (27) inability to achieve expected benefits from branch consolidations and planned sales

within desired timeframes, if at all; (28) ability to secure confidential information and deliver products and services through the use of computer systems and telecommunications

networks; and (29) the impact of reputational risk created by these developments on such matters as business generation and retention, funding and liquidity.

You should refer to our periodic and current reports filed with the Securities and Exchange Commission, or “SEC,” for further information on other factors, which could cause

actual results to be significantly different from those expressed or implied by these forward-looking statements.

In this presentation, we may sometimes provide non-GAAP financial information. Please note that although non-GAAP financial measures provide useful insight to analysts,

investors and regulators, they should not be considered in isolation or relied upon as a substitute for analysis using GAAP measures. We provide GAAP reconciliations for non-

GAAP measures in a later slide in this presentation as well as in our earnings release, both of which are available in the investor relations section of our website, www.53.com.

Management has provided forward-looking guidance on certain non-GAAP measures in connection with this presentation in order to facilitate comparability with the Bancorp’s

historical performance and financial condition as reflected in these non-GAAP measures. Such forward-looking non-GAAP measures include return on tangible common equity;

net interest margin (FTE); net interest income (FTE); and adjusted noninterest income, excluding certain transactions and adjustments related to the Bancorp’s investment in

Vantiv, Visa total return swap, and branch sales, closures and consolidations. Bancorp’s management does not estimate on a forward-looking basis the impact of items similar

to those that it has excluded to generate these non-GAAP measures on a historical basis because the occurrence and amounts of items such as these are difficult to predict. As

a result, the Bancorp has not provided reconciliations of its forward-looking non-GAAP measures.

3

©  Fifth Third Bancorp | All Rights Reserved

•

Net interest income up $18 million versus adjusted Q1

NII¹, and up $37 million year-over-year

•

NIM up 3 bps versus adjusted Q1 NIM¹,

and up 13 bps

year-over-year

•

Tightly-managed noninterest expenses; down 3%

sequentially and down 3% year-over-year

•

Solid credit performance

•

CCAR non-objection, including substantial dividend

and repurchase increases from previous cycle

(~120% payout

³

)

•

Executing on North Star plans

2Q17 highlights

1

Non-GAAP measure: See Reg

G reconciliation on pages 22 and 23 of this presentation and use of non-GAAP measures on page 32 of the earnings release

2

See page 4

of the presentation for impact of certain items

3

based on consensus earnings estimates as of 7/20/2017

Diluted Earnings

Per Share

$0.45

Included $0.01 negative impact

from a certain item

²

Net Income to

Common

$344 million

ROA

1.05%

ROTCE¹

10.7%

4

©  Fifth Third Bancorp | All Rights Reserved

Pre-tax item included in

2Q17 results had a

negative $0.01 EPS

impact:

–

A $9 million pre-tax

(~$6 million after-tax)²

charge related to the

valuation of the Visa total

return swap

Credit trends

–

NCO ratio of 28 bps,

down 12 bps sequentially

and down 9 bps year-

over-year

–

Portfolio NPA ratio of 72

bps, down 7 bps

sequentially and down 14

bps year-over-year

Noninterest expense

down 3% sequentially and

down 3% year-over-year

2Q17 in review

1

Non-GAAP measure: See Reg

G reconciliation on pages 22 and 23 of this presentation and use of non-GAAP measures on page 32 of the earnings release

2

Assumes a 35% tax rate

($ in millions)

2Q17

Seq.

YOY

Average Balances

Total loans & leases (ex. HFS)

$91,972

-

(2%)

Core deposits

$99,570

(1%)

1%

Income Statement Data

Net interest income (FTE)

1

945

1%

4%

Provision for loan & lease losses

52

(30%)

(43%)

Noninterest income

564

8%

(6%)

Noninterest expense

957

(3%)

(3%)

Net income attributable to Bancorp

$367

20%

12%

Net income available to common

shareholders

$344

19%

13%

Financial Ratios

Earnings per share, diluted

$0.45

18%

15%

Net interest margin (FTE)

1

3.01%

(1bp)

13bps

Efficiency ratio (FTE)

1

63.4%

(400bps)

(190bps)

Return on average assets

1.05%

17bps

13bps

Return on average common equity

9.0%

120bps

100bps

Return on average tangible common equity

1

10.7%

140bps

110bps

Tangible book value per share

1

$17.11

1%

1%

5

©  Fifth Third Bancorp | All Rights Reserved

FY: ~1% commercial loan growth (EOP), including impact of $600 million of remaining exits

FY: Low to mid-single digit consumer & mortgage loan growth (EOP), excluding auto balances

Current Outlook:

Avg +1% YoY

Balance sheet

Loan & lease balances

1

($ billions)

•

Transaction deposits down 1% vs. 1Q17;

up 1% YoY, driven by increased:

–

Interest checking

–

Consumer money market

•

Average loan-to-core deposit ratio of 92%

•

Modified LCR of 122% at 2Q17

Core deposit balances

1

($ billions)

Securities and

short-term investments

1

($ billions)

•

Average securities up $2.1B YoY

driven by:

–

Opportunistically deployed cash

over last three quarters at more

attractive entry points than those

experienced prior to the U.S.

presidential election

•

Securities portfolio / total assets of

22.9% compared to 21.1% in 2Q16

All balances are on an average basis; loan balances exclude HFS

•

Commercial flat vs. 1Q17; down 2% YoY

–

Commercial up 1% vs. 1Q17 and up 3%

YoY excl. deliberate exits

–

C&I down 1% vs. 1Q17 and 5% YoY

–

CRE up 2% vs. 1Q17 and 7% YoY

•

Consumer down 1% vs. 1Q17; down 2%

YoY

–

Consumer flat vs.1Q17 and up 4% YoY

excl. auto

–

Auto down 4% vs. 1Q17 and 14% YoY

–

HE down 3% vs. 1Q17 and 8% YoY

–

Mortgage up 1% vs. 1Q17 and 10% YoY

Transaction

Other time

Loan-to-core

deposit ratio

Short-term investments

Average securities

1

$30.1

$29.8

$30.8

$31.9

$32.2

$32.1

$31.7

$32.6

$33.2

$33.5

2Q16

3Q16

4Q16

1Q17

2Q17

$94.9

$94.9

$97.0

$97.0

$95.8

$99.0

$98.9

$100.9

$100.8

$99.6

95%

95%

92%

91%

92%

2Q16

3Q16

4Q16

1Q17

2Q17

2Q16

3Q16

4Q16

1Q17

2Q17

6

©  Fifth Third Bancorp | All Rights Reserved

Net interest income

1

Non-GAAP measure: See Reg

G reconciliation on pages 22 and 23 of this presentation and use of non-GAAP measures on page 32 of the earnings release

•

NII & NIM performance vs. prior year NII

& NIM driven by:

Improved short-term market rates

•

NII up $37 million

•

NIM up 13 bps

2Q17 vs. 1Q17

2Q17 vs. 2Q16

•

NII & NIM performance vs. prior quarter

adjusted

1

NII & NIM driven by:

Improved short-term market rates

Loan pricing discipline

Day count  (+$6mm, -1 bp)

•

NII up $18 million and NIM up 3 bps

FY: NII (FTE) up 5%; NIM in-line with 2Q17

Q3: NII (FTE) up 2% sequentially; NIM up ~2 bps sequentially

Current Outlook

1

:

$908

$913

$909

$927

$945

2.88%

2.88%

2.86%

3.02%

3.01%

2.91%

2.98%

2Q16

3Q16

4Q16

1Q17

2Q17

NII and NIM (FTE)

1

($ millions)

NII

Adjusted NII

NIM

Adjusted NIM

$925

$939

7

Fifth Third Bancorp | All Rights Reserved

•

Adjusted 

noninterest income down $31

million, or 5%, driven by:

-

Lower capital markets revenue

compared to record quarter last year

-

Lower mortgage banking net revenue

FY adjusted: up 2%, excluding mortgage

Q3 adjusted: up 2%, excluding mortgage

Noninterest income

•

Adjusted 

noninterest income up $35

million, or 7%, driven by:

-

Q1 lease remarketing impairment

-

Higher mortgage banking net revenue

2Q17 vs. 1Q17

2Q17 vs. 2Q16

Current Outlook

1,2

:

$599

$840

$620

$523

$564

$602

$596

$608

$536

$571

2Q16

3Q16

4Q16

1Q17

2Q17

Noninterest income

($ millions)

Noninterest Income

Adjusted Noninterest Income

1

1

1

1

Non-GAAP measure: See Reg G reconciliation on pages 22 and  23 of this presentation and use of non-GAAP measures on page 32 of the earnings release

2

2016 excludes all items shown on page 23 of this presentation as well as Q1 2016 items shown in the  prior quarter earnings presentation Reg G reconciliation, and excludes all mortgage

banking net revenue (resulting in $2.1BN); Q2 2017 excludes all items shown on page 23 of this presentation, and excludes all mortgage banking net revenue (resulting in $516 million).

©  Fifth Third Bancorp | All Rights Reserved

8

Noninterest expense

1

Non-GAAP

measure:

See

Reg

G

reconciliation

on

pages

22

and

23

of

this

presentation

and

use

of

non-GAAP

measures

on

page

32

of

the

earnings

release

FY: flat, including incremental North Star expenses

Q3: up ~1% from 3Q16

•

Noninterest expense down 3%, driven by:

Diligent expense management

throughout the bank

Seasonally higher comp-related

expenses in 1Q17

2Q17 vs. 1Q17

2Q17 vs. 2Q16

•

Noninterest expense

down 3%, driven by:

Diligent expense management

throughout the bank, with improvement

in all categories

Current Outlook:

$983

$973

$960

$986

$957

$974

$970

$955

$986

$957

2Q16

3Q16

4Q16

1Q17

2Q17

Noninterest expense

($ millions)

Noninterest Expense

Adjusted Noninterest Expense

1

–

–

–

•

2Q17 net charge-offs of 0.28%, down 12 bps

from 1Q17 and down 9 bps from 2Q16

•

2Q17 portfolio NPAs down $59MM from 1Q17

and $143MM from 2Q16

•

2Q17 criticized assets at 5.50% of commercial

loans, lowest in over 10 years

•

2Q17 allowance for loan & lease losses of

1.34%, down 1 bp

sequentially

Credit quality overview

NCOs range-bound with potential quarterly variability

Provision reflective of loan growth

Current Outlook:

9

©  Fifth Third Bancorp | All Rights Reserved

©  Fifth Third Bancorp | All Rights Reserved

10

Strong capital and liquidity position

1

Current period regulatory capital & liquidity ratios are estimated

CET1 strong at 10.63%, down 13 bps sequentially; up 69 bps from 2Q16

CCAR 2017 capital plan:

29% increase in common dividend through multiple raises (to $0.16 in 3Q17 and

to $0.18 in 2Q18)

$1.161 billion in repurchases (including $88 million related to employee benefit

plans)

Modified LCR of 122% as of June 30, 2017

–

–

11

Executing on our North Star revenue growth

plans

Middle Market, Vertical &

Specialty Lending

Capital Markets

Wholesale Payments

Personal Lending

Mortgage

Credit Card

Consumer Households

Insurance

Wealth & Asset Management

2019

4Q annualized

Example Projects:

•

Middle Market Expansion

•

Asset-based lending

•

New verticals

•

FICC client platform upgrade

•

Sponsor coverage expansion

•

ECM/DCM expansion

•

Acquisitions

•

Organic growth

•

Commercial card expansion

•

Expanded capabilities

•

New client portal

•

Technology enhancements

•

Direct personal unsecured offerings

•

GreenSky

partnership

•

Efficiencies with mortgage loan origination system

•

Market share capture

•

Servicing portfolio growth

$3

$27

$64

($4)

$31

$56

-

($3)

$5

($5)

-

$22

$14

$48

$74

($6)

$19

$42

($2)

($7)

$10

($7)

$3

$15

($6)

($6)

$11

($13)

$112

$299

Table above excludes expected pre-tax benefits from baseline and expense initiatives

•

Analytical enhancements

•

New product expansion

•

Direct Marketing

•

Focus on reduced attrition

•

Product add-ons with Millennial appeal

•

Salesforce growth

•

Acquisitions

•

Robo

investment platform

2018

4Q annualized

2017

4Q annualized

($s in millions, pre-tax)

©  Fifth Third Bancorp | All Rights Reserved

12

Current outlook

1

Non-GAAP measure: See Reg

G reconciliation on pages 22 and  23 of this presentation and use of non-GAAP measures on page 32 of the earnings release

2

2016

excludes

all

items

shown

on

page

23

of

this

presentation

as

well

as

Q1

2016

items

shown

in

the

prior

quarter

earnings

presentation

Reg

G

reconciliation,

and

excludes

all

mortgage

banking

net

revenue

(resulting

in

$2.1BN);

Q2

2017

excludes

all

items

shown

on

page

23

of

this

presentation,

and

excludes

all

mortgage

banking

net

revenue

(resulting

in

$516

million).

Note: Previous and current outlook excludes potential, but currently unforecasted, items, such as any potential additional Vantiv gains or losses, future capital actions, or changes in regulatory

or accounting guidance

Outlook as of July 21, 2017;

please see cautionary statement on slide 2 regarding forward-looking statements

Total loans & leases

(EOP excl. HFS)

Net interest income (FTE)

1

Net interest margin (FTE)

1

Noninterest income

1,2

Noninterest expense

Effective tax rate

Credit items

•

FY 2017: ~1% commercial loan growth, incl. impact of $600 million of remaining exits in 2017

•

FY 2017: Low to mid-single digit consumer & mortgage loan growth, excluding auto balances

•

FY 2017: Up 5%

•

Q3 2017: Up 2% sequentially

•

FY 2017: in-line with 2Q17

•

Q3 2017: Up ~2 bps sequentially

•

FY 2017 adjusted: up 2%, excluding mortgage

•

Q3 2017 adjusted: up 2%, excluding mortgage

mortgage revenue excluded given volatility from significant increase in interest rates at the end of 2016

•

FY 2017: flat (including incremental North Star expenses)

•

Q3 2017: up 1% from 3Q16

•

FY 2017: 24.5% -

25.5% range

•

Q3 2017: 25.5% range

assumes no Federal corporate tax rate change

•

NCOs range-bound with potential quarterly variability

•

Provision reflective of loan growth

©  Fifth Third Bancorp | All Rights Reserved

13

©  Fifth Third Bancorp | All Rights Reserved

Appendix

14

©  Fifth Third Bancorp | All Rights Reserved

($ in millions)

2Q16

3Q16

4Q16

1Q17

2Q17

Net interest income (FTE)

$908

$913

$909

$939

$945

Add: Noninterest income

599

840

620

523

564

Less: Noninterest expense

983

973

960

986

957

Pre-provision net revenue

$524

$780

$569

$476

$552

Adjustments to remove (benefit) / detriment

2

:

In net interest income:

Bankcard refunds

-

-

16

(12)

-

In noninterest income:

Gain on Vantiv warrant actions

-

-

(9)

-

-

Gain from termination and settlement of Vantiv TRA

-

(280)

-

-

-

Gain on sale from the sale of a non-branch facility

-

(11)

-

-

-

Branch and land valuation adjustments

-

28

-

-

-

Valuation of 2009 Visa total return swap

50

12

(6)

13

9

Transfer of nonconforming investments under Volcker to HFS

-

9

-

-

-

Vantiv

warrant valuation

(19)

2

-

-

-

Gain on sale of certain branches

(11)

-

-

-

-

Gain on sale of the agented bankcard loan portfolio

(11)

-

-

-

-

Securities (gains) / losses

(6)

(4)

3

-

-

Securities

(gains),

net

-

non

qualifying

hedges

on

mortgage        

servicing rights

-

-

-

-

(2)

In noninterest expense:

Contribution to Fifth Third Foundation

-

3

5

-

-

Retirement eligibility changes

9

-

-

-

-

Adjusted PPNR

$536

$539

$578

$477

$559

PPNR reconciliation

PPNR and

efficiency ratio trends

1

1

Non-GAAP

measures:

See

Reg

G

reconciliation

on

pages

22

and

23

of

this

presentation

and

use

of

non-GAAP

measures

on

page

32

of

the

earnings

release

2

Prior quarters include similar adjustments

•

Adjusted PPNR up 17% vs. 1Q17 driven by:

–

Diligent expense management

–

NII growth, primarily from market rates

–

$18MM LTI expense pulled forward to Q1

–

Lease remarketing impairment in Q1

•

Adjusted

PPNR

up

4%

YoY

driven

by:

–

Diligent expense management

–

NII growth, primarily from market rates

–

Partially offset by lower mortgage banking net revenue

65.3%

55.5%

62.8%

67.4%

63.4%

64.5%

64.3%

62.3%

67.4%

63.1%

2Q16

3Q16

4Q16

1Q17

2Q17

Efficiency ratio

Efficiency Ratio

Adjusted Efficiency Ratio

$536

$539

$578

$477

$559

2Q16

3Q16

4Q16

1Q17

2Q17

PPNR

trend

($ millions)

Adjusted PPNR

Reported PPNR

15

Strong liquidity profile

Demand

25%

Interest

checking

18%

Savings/

MMDA

24%

Consumer

time

3%

Foreign

Office

0%

Non-Core

Deposits

2%

S-T

borrowings

4%

Other

liabilities

3%

Equity

12%

L-T debt

9%

Heavily core funded as of 06/30/2017

1

Available and contingent borrowing capacity (2Q17):

–

FHLB ~$8.0B available, ~$13.7B total

–

Federal Reserve ~$31.6B

1

The $500MM matured in 1Q17 

2

The $650MM matured in 2Q17

Holding Company:

Modified LCR of 122%

Holding Company cash at June 30, 2017: $2.6B

Cash currently sufficient to satisfy all fixed obligations in a stressed

environment for ~27 months (debt maturities, common and preferred

dividends, interest and other expenses) without accessing capital

markets, relying on dividends from subsidiaries or any other actions

$700MM of 5 year senior notes were issued from the Holding Company

in 2Q17

Bank Entity:

$650MM of debt matured at the Bank in 2Q17

The Bank did not issue any additional debt in 2Q17

2017 Funding Plans

Fifth Third would not be required to replace 2017 debt maturities to

maintain our current senior debt ratings under the Moody’s LGF

methodology

Any additional debt issuance in 2017 would result from general balance

sheet management and prudent liquidity risk management

S-T

wholesale

6%

$500

$500

$500

$1,100

$3,012

2017

2018

2019

2020

2021

2022 on

Fifth Third Bancorp

First Charter Capital Trust

Holding company unsecured debt maturities

($ millions)

$650

$1,850

$2,600

$2,100

$750

2017

2018

2019

2020

2021

2022 on

Bank unsecured debt maturities

($

millions –

excl. Retail Brokered & Institutional CDs)

2

1

©  Fifth Third Bancorp | All Rights Reserved

Balance sheet positioning

Commercial

Loans

1,2

Investment

Portfolio

Consumer

Loans

1

Data as of 06/30/17

1

Includes HFS Loans & Leases

2

Fifth Third had $4.48B

1ML receive-fix swaps outstanding against C&I loans, which are being included in fixed

3

Fifth Third had $2.96B

3ML receive-fix swaps outstanding against long-term debt, which are being included in floating, long-term debt with swaps outstanding reflected at fair value

•

Fixed: $14.0B

1, 2

•

Float: $42.3B

1, 2

•

1ML based: 70%

(of total commercial)

•

3ML based: 8%  (of total commercial)

•

Prime based: 4% (of total commercial)

•

Weighted avg. life: 1.65 years

•

50% allocation to bullet/locked-out

cash flow securities

•

Investment portfolio yield: 3.05%

•

Duration: 4.9 years

•

Net unrealized pre-tax gain: $331MM

•

97% AFS

•

Fixed: $25.5B

1

•

Float: $10.4B

1

•

12ML based: 10%  (of total consumer)

•

Prime based: 23% (of total consumer)

•

Weighted avg. life: 3.76 years

•

Auto weighted avg. life: 1.39 years

Long-term

Debt

3

Key Characteristics

Balance Sheet Mix

Fixed vs. Floating

Level 1

100% Fix  /  0% Float

Level 2A

100% Fix  /  0% Float

Non-HQLA

/Other

76% Fix  /  24% Float

C&I

20% Fix  /  80% Float

Commercial

Mortgage

22% Fix  /  78% Float

4% Fix  /  96% Float

Commercial

Construction

100% Fix  /  0% Float

Commercial

Lease

Resi Mtg &

Construction

91% Fix  /  9% Float

Auto

99% Fix  /  1% Float

10% Fix  /  90% Float

Home Equity

30% Fix  /  70% Float

Credit Card

23% Fix  /  77% Float

Other

•

Fixed: $9.9B

3

•

Float:  $3.5B

3

•

1ML based: 0% (of total long term debt)

•

3ML based: 26%  (of total long term debt)

•

Weighted avg. life: 4.46 years

Senior Debt

76% Fix  /  24% Float

Sub Debt

64% Fix  /  36% Float

100% Fix  /  0% Float

Auto Securiz.

Proceeds

0% Fix  /  100% Float

TRUPS

100% Fix  /  0% Float

Other

©  Fifth Third Bancorp | All Rights Reserved

16

17

Interest rate risk management

Data as of 06/30/17

1

Actual

results

may

vary

from

these

simulated

results

due

to

differences

between

forecasted

and

actual

balance

sheet

composition,

timing,

magnitude,

and

frequency

of

interest

rate

changes, as well as other changes in market conditions and management strategies. 

2

Re-pricing percentage or “beta” is the estimated change in yield over 12 months as a result of a shock or ramp 100 bps parallel shift in the yield curve

•

NII benefits from asset rate reset in a rising rate environment

–

56% of total loans are floating rate considering impacts of interest rate swaps (75% of

total commercial and 27%

of total consumer)

–

Investment portfolio duration of 4.9 years

–

Short-term borrowings represent approximately 25% of total wholesale funding, or 4% of total funding

–

Approximately $11 billion in non-core funding matures beyond one year

•

Interest rate sensitivity tables are based on conservative deposit assumptions

–

70% beta on all interest-bearing deposit and sweep balances (~50% betas experienced in 2004 –

2006 Fed

tightening cycle)

–

No modeled re-pricing lag

–

Modeled non-interest bearing commercial DDA runoff of approximately $2.5 billion (about 10%) for each 100 bps

increase in rates

–

DDA runoff rolls into an interest bearing product with a 100% beta

Estimated NII Sensitivity Profile and ALCO Policy Limits

Estimated EVE Sensitivity Profile and ALCO Policy Limits

% Change in

NII (FTE)

ALCO Policy Limits

Change in EVE

Change in Interest Rates (bps)

ALCO Policy Limit

12

Months

13-24

Months

12

Months

13-24    

Months

+200 Shock

(4.85%)

(12.00%)

Change in Interest Rates (bps)

+100 Shock

(1.87%)

-

+200 Ramp over 12 months

1.90%

5.85%

(4.00%)

(6.00%)

+25 Shock

(0.30%)

-

+100 Ramp over 12 months

1.13%

3.74%

-

-

-100 Shock

(1.31%)

-

-50 Ramp over 6 months

(4.04%)

(7.51%)

(6.00%)

(8.00%)

Estimated NII Sensitivity with Demand Deposit Balance Changes

Estimated NII Sensivity with Deposit Beta Changes

% Change in NII (FTE)

% Change in NII (FTE)

$1B Balance Decrease

$1B Balance Increase

Betas 25% Higher

Betas 25% Lower

Change in Interest Rates (bps)

12

Months

13-24

Months

12

Months

13-24

Months

Change in Interest Rates (bps)

12

Months

13-24

Months

12

Months

13-24

Months

+200 Ramp over 12 months

1.65%

6.46%

2.16%

7.49%

+200 Ramp over 12 months

(0.99%)

1.19%

4.80%

12.76%

+100 Ramp over 12 months

1.07%

4.12%

1.33%

4.63%

+100 Ramp over 12 months

(0.24%)

1.48%

2.65%

7.27%

©  Fifth Third Bancorp | All Rights Reserved

18

Fifth Third Bancorp | All Rights Reserved

Mortgage banking results

•

$2.3B in originations, up  17% sequentially and down 16% YoY;  70% purchase volume

•

2Q17 mortgage banking drivers:

–

Origination fees and gain on sale revenue up $8MM, or 28%, sequentially

–

Gain on sale margin up 11 bps sequentially

–

Net MSR valuation adjustments of negative $1MM; servicing rights amortization/decay of $30MM

–

$49MM in gross servicing fees

•

YoY

decline in mortgage banking revenue driven primarily by lower origination fees and gains on

loan sales

•

$10 billion in YTD MSR purchases

($7.6 billion to be on-boarded in the third quarter of 2017)

1

Gain-on-sale margin represents gains on all loans originated for sale

$1.70

$1.79

$1.66

$1.25

$1.49

$1.05

$1.09

$1.06

$0.68

$0.77

2.62%

3.01%

1.69%

1.98%

2.09%

2Q16

3Q16

4Q16

1Q17

2Q17

Originations for sale

Originations HFI

Margin

Mortgage originations and gain-on-sale margins¹

($ billions)

54

61

30

29

37

50

49

48

47

49

(35)

(35)

(35)

(27)

(30)

6

(9)

22

3

(1)

2Q16

3Q16

4Q16

1Q17

2Q17

Mortgage banking revenue

($ millions)

Net MSR valuation adjustments

MSR amortization/decay

Gross servicing fees

Orig fees and gains on loan sales

19

Fifth Third Bancorp | All Rights Reserved

Limited higher-risk retail exposure

•

~33% to regional malls

•

~82% A/B properties

•

~43% underlying to large

box/general retailer

•

Stringent customer selection and large diversified portfolios that are conservatively leveraged

•

Actively managing with monthly reviews

•

~98% of Specialty & general C&I balances are ABL or investment grade; ~2% of balances are criticized

•

~19% of CRE balances are investment grade; ~1% of balances are criticized

•

Retail C&I general and specialty retailers: WA ABL borrowing base of ~85%

$769MM

CRE

$1.9BN

Specialty

& general

C&I

Total Loans & Leases

$92.3BN

•

$1.51BN: specialty retailers

•

$365MM: general retailers

$385MM

REIT

Portfolio Composition:

Additional Metrics:

•

$584MM: mortgage

•

$185MM: construction

•

~90% to non-clothing and

non-electronic stores

•

~3% to mall anchors

•

$385MM in balances to REITs

with retail-heavy focus

(subset of $1.3BN total REIT portfolio, targeting

malls, strip centers, lifestyle centers, etc. as their

primary investment vehicles)

•

11 well-diversified REITs to

well-known borrowers

•

~33% to mall REITs

1

End of period total loans & leases including HFS as of 6/30/2017

2

In addition to C&I loans to specialty and general retailers, Retail Trade NAICS industry classification also includes $2.2BN in C&I loans to grocery & drug, gas stations & convenience, and

motor vehicle parts borrowers

Higher-risk retail

1

2

3%

$3.1BN

20

Fifth Third Bancorp | All Rights Reserved

NPL rollforward

NPL HFI Rollforward

Commercial

2Q16

3Q16

4Q16

1Q17

2Q17

543

$       

539

$       

460

$       

523

$       

523

$       

Transfers to nonaccrual status

104

145

161

128

84

Transfers to accrual status

(6)

-

(4)

-

(13)

Transfers from held for sale

-

-

-

-

-

Transfers to held for sale

-

(36)

(3)

(3)

(1)

Loans sold from portfolio

(2)

(3)

-

-

(9)

Loan paydowns/payoffs

(52)

(112)

(53)

(80)

(69)

Transfers to OREO

(3)

(1)

(3)

(2)

-

Charge-offs

(51)

(81)

(40)

(46)

(41)

Draws/other extensions of credit

6

9

5

3

11

539

$       

460

$       

523

$       

523

$       

485

$       

Consumer

2Q16

3Q16

4Q16

1Q17

2Q17

158

$       

154

$       

141

$       

137

$       

134

$       

Transfers to nonaccrual status

56

45

44

42

43

Transfers to accrual status

(31)

(28)

(21)

(19)

(19)

Transfers from held for sale

-

-

-

-

-

Transfers to held for sale

-

-

-

-

-

Loans sold from portfolio

-

-

-

-

-

Loan paydowns/payoffs

(11)

(10)

(8)

(10)

(13)

Transfers to OREO

(7)

(7)

(5)

(4)

(4)

Charge-offs

(11)

(13)

(14)

(12)

(12)

Draws/other extensions of credit

-

-

-

-

-

154

$       

141

$       

137

$       

134

$       

129

$       

Total NPL

693

$       

601

$       

660

$       

657

$       

614

$       

Total new nonaccrual loans - HFI

160

$       

190

$       

205

$       

170

$       

127

$       

Beginning NPL amount

Ending Commercial NPL

Beginning NPL amount

Ending Consumer NPL

21

©  Fifth Third Bancorp | All Rights Reserved

Residential Mortgage

Commercial & Industrial

Home Equity & Automobile

Commercial Real Estate

*Excludes loans held-for-sale

Credit trends

($ in millions)

2Q16

3Q16

4Q16

1Q17

2Q17

EOP Balance*

$43,558

$42,727

$41,676

$41,074

$40,914

Avg Balance*

$43,876

$43,116

$42,548

$41,854

$41,601

90+ days delinquent

$2

$7

$4

$3

$3

as % of loans

NM

0.02%

0.01%

0.01%

0.01%

NPAs*

$477

$419

$488

$490

$452

as % of loans

1.10%

0.98%

1.17%

1.19%

1.10%

Net charge-offs

$39

$61

$25

$36

$18

as % of loans

0.36%

0.56%

0.24%

0.34%

0.17%

C&I

($ in millions)

2Q16

3Q16

4Q16

1Q17

2Q17

EOP Balance*

$14,307

$14,643

$15,051

$15,336

$15,460

Avg Balance*

$14,046

$14,455

$14,854

$15,200

$15,417

90+ days delinquent

$38

$43

$49

$45

$45

as % of loans

0.27%

0.29%

0.33%

0.29%

0.29%

NPAs*

$69

$58

$53

$48

$42

as % of loans

0.48%

0.40%

0.35%

0.31%

0.27%

Net charge-offs

$2

$2

$2

$5

$2

as % of loans

0.06%

0.07%

0.06%

0.13%

0.04%

Residential mortgage

($ in millions)

2Q16

3Q16

4Q16

1Q17

2Q17

EOP Balance*

$6,875

$6,856

$6,899

$6,924

$6,868

Avg Balance*

$6,831

$6,888

$6,957

$6,941

$6,845

NPAs*

$114

$86

$72

$64

$56

as % of loans

1.66%

1.25%

1.04%

0.92%

0.82%

Net charge-offs

$6

$2

$2

$5

$5

as % of loans

0.38%

0.08%

0.11%

0.29%

0.33%

Commercial mortgage

($ in millions)

2Q16

3Q16

4Q16

1Q17

2Q17

EOP Balance*

$3,706

$3,905

$3,903

$4,283

$4,366

Avg Balance*

$3,551

$3,848

$3,890

$3,987

$4,306

NPAs*

$7

$5

-

-

-

as % of loans

0.19%

0.13%

NM

NM

NM

Net charge-offs

-

-

-

-

-

as % of loans

(0.00%)

(0.00%)

0.00%

(0.00%)

(0.00%)

Commercial construction

($ in millions)

2Q16

3Q16

4Q16

1Q17

2Q17

EOP Balance*

$7,988

$7,864

$7,695

$7,469

$7,301

Avg Balance*

$8,054

$7,918

$7,779

$7,581

$7,385

90+ days delinquent

-

-

-

-

-

as % of loans

NM

NM

NM

NM

NM

Net charge-offs

$6

$7

$6

$6

$5

as % of loans

0.30%

0.32%

0.35%

0.33%

0.27%

Home equity

($ in millions)

2Q16

3Q16

4Q16

1Q17

2Q17

EOP Balance*

$10,671

$10,349

$9,983

$9,572

$9,318

Avg Balance*

$10,887

$10,508

$10,162

$9,786

$9,410

90+ days delinquent

$7

$8

$9

$6

$7

as % of loans

0.07%

0.08%

0.09%

0.06%

0.08%

Net charge-offs

$8

$9

$11

$11

$6

as % of loans

0.26%

0.35%

0.40%

0.48%

0.27%

Automobile

22

©  Fifth Third Bancorp | All Rights Reserved

Regulation G non-GAAP reconciliation

See page 32 of the earnings release for a discussion on the use of non-GAAP financial measures

Fifth Third Bancorp and Subsidiaries

Regulation G Non-GAAP Reconciliation

$ and shares in millions

(unaudited)

June

March

December

September

June

2017

2017

2016

2016

2016

Net income available to common shareholders (U.S. GAAP)

$344

$290

$372

$501

$305

Add:

Intangible amortization, net of tax

-

-

-

-

-

Tangible net income available to common shareholders

$344

$290

$372

$501

$305

Tangible net income available to common shareholders (annualized) (a)

$1,380

$1,176

$1,480

$1,993

$1,227

Average Bancorp shareholders' equity (U.S. GAAP)

$16,615

$16,429

$16,545

$16,883

$16,584

Less:

Average preferred stock

(1,331)

(1,331)

(1,331)

(1,331)

(1,331)

Average goodwill

(2,424)

(2,416)

(2,416)

(2,416)

(2,416)

Average intangible assets and other servicing rights

(18)

(10)

(10)

(10)

(11)

Average tangible common equity (b)

$12,842

$12,672

$12,788

$13,126

$12,826

Total Bancorp shareholders' equity (U.S. GAAP)

$16,419

$16,430

$16,205

$16,776

$16,726

Less: 

Preferred stock

(1,331)

(1,331)

(1,331)

(1,331)

(1,331)

Goodwill

(2,423)

(2,419)

(2,416)

(2,416)

(2,416)

Intangible assets and other servicing rights

(18)

(11)

(10)

(10)

(11)

Tangible common equity, including unrealized gains / losses (c)

$12,647

$12,669

$12,448

$13,019

$12,968

Less:

Accumulated other comprehensive income

(163)

(68)

(59)

(755)

(889)

Tangible common equity, excluding unrealized gains / losses (d)

$12,484

$12,601

$12,389

$12,264

$12,079

Total assets (U.S. GAAP)

$141,067

$140,200

$142,177

$143,279

$143,625

Less: 

Goodwill

(2,423)

(2,419)

(2,416)

(2,416)

(2,416)

Intangible assets and other servicing rights

(18)

(11)

(10)

(10)

(11)

Tangible assets, including unrealized gains / losses (e)

$138,626

$137,770

$139,751

$140,853

$141,198

Less:

Accumulated other comprehensive income / loss, before tax

(251)

(105)

(91)

(1,162)

(1,368)

Tangible assets, excluding unrealized gains / losses (f)

$138,375

$137,665

$139,660

$139,691

$139,830

Common shares outstanding (g)

739

750

750

756

766

Ratios:

Return on average tangible common equity (a) / (b)

10.7%

9.3%

11.6%

15.2%

9.6%

Tangible common equity (excluding unrealized gains/losses) (d) / (f)

9.02%

9.15%

8.87%

8.78%

8.64%

Tangible common equity (including unrealized gains/losses) (c) / (e)

9.12%

9.20%

8.91%

9.24%

9.18%

Tangible book value per share (c) / (g)

$17.11

$16.89

$16.59

$17.23

$16.93

For the Three Months Ended

23

©  Fifth Third Bancorp | All Rights Reserved

Regulation G non-GAAP reconciliation

See page 32 of the earnings release for a discussion on the use of non-GAAP financial measures

Fifth Third Bancorp and Subsidiaries

Regulation G Non-GAAP Reconciliation

$ and shares in millions

(unaudited)

June

March

December

September

June

2017

2017

2016

2016

2016

CET 1 capital (transitional)

$12,522

$12,636

$12,426

$12,299

$12,112

Less:

Adjustments to CET 1 capital from transitional to fully phased-in (1)

(4)

(2)

(4)

(4)

(4)

CET 1 capital (fully phased-in) (h)

12,518

12,634

12,422

12,295

12,108

Risk-weighted assets (transitional)

117,701

117,407

119,632

120,954

121,824

Add:

Adjustments to risk-weighted assets from transitional to fully phased-in (2)

1,274

1,164

1,115

929

932

Risk-weighted assets (fully phased-in) (i)

$119,045

$118,571

$120,747

$121,883

$122,756

Estimated CET 1 capital ratio under Basel III Final Rule (fully phased-in) (h) / (i)

10.52%

10.66%

10.29%

10.09%

9.86%

(1)

Primarily relates to disallowed intangible assets (other than goodwill and MSRs, net of associated deferred tax liabilities)

(2)

Primarily relates to higher risk-weighting for MSRs

Net interest income (U.S. GAAP)

$939

$933

$903

$907

$902

Add:

FTE Adjustment

6

6

6

6

6

Net interest income (FTE) (j)

$945

$939

$909

$913

$908

Net interest income (FTE) (annualized) (k)

$3,790

$3,808

$3,616

$3,632

$3,652

Net interest income (FTE)

$945

$939

$909

$913

$908

Bankcard refunds / (reversal)

-

(12)

16

-

-

Adjusted net interest income (FTE) (l)

$945

$927

$925

$913

$908

Adjusted net interest income (FTE) (annualized) (m)

$3,790

$3,760

$3,680

$3,632

$3,652

Noninterest income (U.S. GAAP) (n)

$564

$523

$620

$840

$599

Gain on Vantiv warrant actions

-

-

(9)

-

-

Vantiv TRA-related transactions

-

-

-

(280)

-

Gain from the sale of a non-branch facility

-

-

-

(11)

-

Branch / land impairment charge

-

-

-

28

-

Valuation of 2009 Visa total return swap

9

13

(6)

12

50

Transfer of certain nonconforming investments under Volcker to held-for-sale

-

-

-

9

-

Vantiv warrant valuation

-

-

-

2

(19)

Gain on sale of certain branches

-

-

-

-

(11)

Gain on sale of the non-strategic agented bankcard loan portfolio

-

-

-

-

(11)

Securities (gains) / losses

-

-

3

(4)

(6)

Securities (gains), net - non-qualifying hedges on mortgage servicing rights

(2)

-

-

-

-

Adjusted noninterest income (o)

$571

$536

$608

$596

$602

Less:

Mortgage banking net revenue

(55)

(52)

(65)

(66)

(75)

Adjusted noninterest income, excluding mortgage banking net revenue

$516

$484

$543

$530

$527

Noninterest expense (U.S. GAAP) (p)

$957

$986

$960

$973

$983

Contribution for Fifth Third Foundation

-

-

(5)

(3)

-

Adjusted noninterest expense (q)

$957

$986

$955

$970

$974

Average interest-earning assets (r)

126,134

125,968

126,548

126,092

126,847

Ratios:

Net interest margin (k) / (r)

3.01%

3.02%

2.86%

2.88%

2.88%

Adjusted net interest margin (m) / (r)

3.01%

2.98%

2.91%

2.88%

2.88%

Efficiency ratio (p) / [(j) + (n)]

63.4%

67.4%

62.8%

55.5%

65.3%

Adjusted efficiency ratio (q) / [(l) + (o)]

63.1%

67.4%

62.3%

64.3%

64.5%

For the Three Months Ended