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): October 24, 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 October 24, 2017, Fifth Third Bancorp issued a press release announcing its earnings release for the third quarter of 2017. A copy of this press release is attached as Exhibit 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 Exchange Act of 1934, nor shall they be deemed incorporated by reference in any filing under the Securities Exchange Act of 1934 or the Securities Act of 1933, except as shall be expressly set forth by specific reference.

Item 7.01 Regulation FD Disclosure.

On October 24, 2017, Fifth Third Bancorp issued a press release announcing its earnings release for the third quarter of 2017. A copy of this press release is attached as Exhibit 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 Exchange 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 Exchange Act of 1934, nor shall they be deemed incorporated by reference in any filing under the Securities Exchange Act of 1934 or 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 October 24, 2017

Exhibit 99.2 – Third 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)
Date: October 24, 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
	Katrina Booker (Media)	FOR IMMEDIATE RELEASE
	(513) 534-6858	October 24, 2017

FIFTH THIRD ANNOUNCES THIRD QUARTER 2017 NET INCOME TO COMMON SHAREHOLDERS OF $999 MILLION, OR $1.35 PER DILUTED SHARE

• 3Q17 net income available to common shareholders of $999 million, or $1.35 per diluted common share

• Results included a positive $0.87 impact on reported 3Q17 earnings per share:

• $1.037 billion pre-tax ($679 million after-tax) gain on the sale of Vantiv shares

• $47 million pre-tax (~$31 million after-tax)^(a) charge related to the valuation of the Visa total return swap

• $0.02 negative EPS impact reflecting a specific Vantiv-related tax item and lower equity method income from the reduced interest in Vantiv

• Reported net interest income of $970 million; taxable equivalent net interest income of $977 million^(b), up 3% from 2Q17 and up 7% from 3Q16

• Taxable equivalent net interest margin of 3.07%^(b), up 6 bps from 2Q17 and up 19 bps from 3Q16

• Average portfolio loans and leases of $91.9 billion, flat from 2Q17 and down 2% from 3Q16

• Noninterest income of $1.6 billion, compared with $564 million in 2Q17 and $840 million in 3Q16; performance primarily driven by the Vantiv-related item above

• Noninterest expense of $975 million, up 2% from 2Q17 and flat from 3Q16

• Net charge-offs (NCOs) of $68 million, up $4 million from 2Q17 and down $39 million from 3Q16; NCO ratio of 0.29% compared to 0.28% in 2Q17 and 0.45% in 3Q16

• Portfolio nonperforming asset (NPA) ratio of 0.60%, down 12 bps from 2Q17 and down 15 bps from 3Q16

• 3Q17 provision expense of $67 million compared to $52 million in 2Q17 and $80 million in 3Q16

• Common equity Tier 1 (CET1)^(c) ratio of 10.59%; fully phased-in CET1 ratio^(b)(c) of 10.47%

• Tangible common equity ratio of 9.00%^(b); 8.89% excluding unrealized gains/losses^(b)

• Book value per share of $21.30, up 4% from both 2Q17 and 3Q16; tangible book value per share^(b) of $17.86 up 4% from both 2Q17 and 3Q16

Fifth Third Bancorp (Nasdaq: FITB) today reported third quarter 2017 net income of $1.0 billion versus net income of $367 million in the second quarter of 2017 and $516 million in the third quarter of 2016. After preferred dividends, net income available to common shareholders was $999 million, or $1.35 per diluted share, in the third quarter of 2017, compared with $344 million, or $0.45 per diluted share, in the second quarter of 2017, and $501 million, or $0.65 per diluted share, in the third quarter of 2016.

Earnings Highlights    

	For the Three Months Ended										% Change
	September 2017		June 2017		March 2017		December 2016		September 2016(d)		Seq		Yr/Yr
Earnings ($ in millions)
Net income attributable to Bancorp	$	1,014	$	367	$	305	$	395	$	516		NM		97%
Net income available to common shareholders	$	999	$	344	$	290	$	372	$	501		NM		99%
Common Share Data
Earnings per share, basic	$	1.37	$	0.46	$	0.38	$	0.49	$	0.66		NM		NM
Earnings per share, diluted		1.35		0.45		0.38		0.49		0.65		NM		NM
Cash dividends per common share		0.16		0.14		0.14		0.14		0.13		14%		23%
Common shares outstanding (in thousands)		705,474		738,873		750,145		750,479		755,582		(5%)		(7%)
Average common shares outstanding (in thousands):
Basic		721,280		741,401		747,668		746,367		750,886		(3%)		(4%)
Diluted		733,285		752,328		760,809		757,704		757,856		(3%)		(3%)
Financial Ratios												bps Change
Return on average assets		2.85%		1.05%		0.88%		1.11%		1.44%		180		141
Return on average common equity		25.6		9.0		7.8		9.7		12.8		1660		1280
Return on average tangible common equity(b)		30.4		10.7		9.3		11.6		15.2		1970		1520
CET1 capital(c)		10.59		10.63		10.76		10.39		10.17		(4)		42
Tier I risk-based capital(c)		11.72		11.76		11.90		11.50		11.27		(4)		45
CET1 capital (fully-phased in)(b)(c)		10.47		10.52		10.66		10.29		10.09		(5)		38
Net interest margin (taxable equivalent)(b)		3.07		3.01		3.02		2.86		2.88		6		19
Efficiency (taxable equivalent)(b)		38.4		63.4		67.4		62.8		55.5		(2500)		(1710)

“Our third quarter 2017 performance reflected continued progress toward achieving our long-term financial targets. Higher revenues, disciplined expense management, and solid credit results helped us deliver strong results for our shareholders,” said Greg D. Carmichael, President and CEO of Fifth Third Bancorp.

Reported results included a substantial gain from the sale of a portion of our ownership stake in Vantiv. The sale also generated an additional stream of future cash flows related to our tax receivable agreement which Fifth Third will potentially receive over many years. This transaction is consistent with our long standing strategy of thoughtfully reducing our ownership stake in Vantiv over time.

During the quarter, we also announced multiple strategic relationships, acquisitions, and equity investments which will enhance our insurance, HR consulting, and payment solutions revenue. These announcements follow several other agreements we entered into earlier this year to drive higher fee based revenue while better serving the needs of our customers.

2

Our strong capital position has allowed us to both increase our dividend by 14 percent and repurchase nearly $1 billion of shares during the quarter. We remain focused on managing for long-term outperformance by strengthening our balance sheet, building profitable relationships while maintaining our disciplined underwriting standards, and returning excess capital to shareholders.”

Income Statement Highlights    

($ in millions, except per-share data)	For the Three Months Ended										% Change
	September 2017		June 2017		March 2017		December 2016		September 2016(d)		Seq		Yr/Yr
Condensed Statements of Income
Net interest income (taxable equivalent)(b)	$	977	$	945	$	939	$	909	$	913		3%		7%
Provision for loan and lease losses		67		52		74		54		80		29%		(16%)
Total noninterest income		1,561		564		523		620		840		NM		86%
Total noninterest expense		975		957		986		960		973		2%		—
Income before income taxes (taxable equivalent)(b)	$	1,496	$	500	$	402	$	515	$	700		NM		NM
Taxable equivalent adjustment		7		6		6		6		6		17%		17%
Applicable income tax expense		475		127		91		114		178		NM		NM
Net income	$	1,014	$	367	$	305	$	395	$	516		NM		97%
Less: Net income attributable to noncontrolling interests		—		—		—		—		—		NM		NM
Net income attributable to Bancorp	$	1,014	$	367	$	305	$	395	$	516		NM		97%
Dividends on preferred stock		15		23		15		23		15		(35%)		—
Net income available to common shareholders	$	999	$	344	$	290	$	372	$	501		NM		99%
Earnings per share, diluted	$	1.35	$	0.45	$	0.38	$	0.49	$	0.65		NM		NM

3

Net Interest Income

(Taxable equivalent basis; $ in millions)(b)	For the Three Months Ended										% Change
	September 2017		June 2017		March 2017		December 2016		September 2016		Seq		Yr/Yr
Interest Income
Total interest income	$	1,159	$	1,112	$	1,092	$	1,058	$	1,063		4%		9%
Total interest expense		182		167		153		149		150		9%		21%
Net interest income	$	977	$	945	$	939	$	909	$	913		3%		7%
Average Yield											bps Change
Yield on interest-earning assets		3.64%		3.54%		3.51%		3.33%		3.36%		10		28
Rate paid on interest-bearing liabilities		0.85%		0.79%		0.73%		0.70%		0.70%		6		15
Net interest rate spread		2.79%		2.75%		2.78%		2.63%		2.66%		4		13
Net interest margin		3.07%		3.01%		3.02%		2.86%		2.88%		6		19
Average Balances											% Change
Loans and leases, including held for sale	$	92,617	$	92,653	$	92,791	$	93,981	$	94,417		—		(2%)
Total securities and other short-term investments		33,826		33,481		33,177		32,567		31,675		1%		7%
Total interest-earning assets		126,443		126,134		125,968		126,548		126,092		—		—
Total interest-bearing liabilities		85,328		85,320		84,890		84,552		85,193		—		—
Bancorp shareholders’ equity(d)		16,820		16,615		16,429		16,545		16,883		1%		—

Taxable equivalent net interest income of $977 million in the third quarter of 2017 was up $32 million, or 3 percent from the prior quarter, reflecting the impact of higher short-term market rates during the quarter, the continued shift into higher yielding consumer loans, and a higher day count. The taxable equivalent net interest margin was 3.07 percent, up 6 bps sequentially, primarily driven by higher short-term market rates and improving consumer and commercial portfolio yields, partially offset by a higher day count and a decrease in core deposits.

Compared to the third quarter of 2016, taxable equivalent net interest income was up $64 million, or 7 percent, primarily driven by higher short-term market rates. The net interest margin was up 19 bps from the third quarter of 2016, also primarily driven by higher short-term market rates.

Securities

Average securities and other short-term investments were $33.8 billion in the third quarter of 2017 compared to $33.5 billion in the previous quarter and $31.7 billion in the third quarter of 2016. Available-for-sale securities were $31.5 billion in the third quarter of 2017 down $343 million, or 1 percent, sequentially and up $791 million, or 3 percent, from the third quarter of 2016.

4

Loans

($ in millions)	For the Three Months Ended										% Change
	September 2017		June 2017		March 2017		December 2016		September 2016		Seq		Yr/Yr
Average Portfolio Loans and Leases
Commercial:
Commercial and industrial loans	$	41,302	$	41,601	$	41,854	$	42,548	$	43,116		(1%)		(4%)
Commercial mortgage loans		6,807		6,845		6,941		6,957		6,888		(1%)		(1%)
Commercial construction loans		4,533		4,306		3,987		3,890		3,848		5%		18%
Commercial leases		4,072		4,036		3,901		3,921		3,962		1%		3%
Total commercial loans and leases	$	56,714	$	56,788	$	56,683	$	57,316	$	57,814		—		(2%)
Consumer:
Residential mortgage loans	$	15,523	$	15,417	$	15,200	$	14,854	$	14,455		1%		7%
Home equity		7,207		7,385		7,581		7,779		7,918		(2%)		(9%)
Automobile loans		9,267		9,410		9,786		10,162		10,508		(2%)		(12%)
Credit card		2,140		2,080		2,141		2,180		2,165		3%		(1%)
Other consumer loans and leases		1,055		892		755		673		651		18%		62%
Total consumer loans and leases	$	35,192	$	35,184	$	35,463	$	35,648	$	35,697		—		(1%)
Total average portfolio loans and leases	$	91,906	$	91,972	$	92,146	$	92,964	$	93,511		—		(2%)
Average loans held for sale	$	711	$	681	$	645	$	1,017	$	906		4%		(22%)

Average portfolio loan and lease balances were flat sequentially and decreased $1.6 billion, or 2 percent, from the third 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 the decision to reduce lower-return originations to improve returns on capital. Period end portfolio loans and leases of $91.9 billion were also flat sequentially, and decreased $1.3 billion, or 1 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 $1.1 billion, or 2 percent, from the third quarter of 2016. Average C&I loans decreased $299 million, or 1 percent, from the prior quarter and decreased $1.8 billion, or 4 percent, from the third quarter of 2016. The decline in C&I loans was primarily due to the aforementioned deliberate exits. Average commercial real estate loans increased $189 million, or 2 percent, from the prior quarter and increased $604 million, or 6 percent, from the third quarter of 2016. Within commercial real estate, average commercial mortgage balances decreased $38 million and average commercial construction balances increased $227 million sequentially. Period end commercial line utilization of 34 percent compared to 34 percent in the second quarter of 2017 and 35 percent in the third quarter of 2016.

Average consumer portfolio loan and lease balances were flat sequentially and decreased $505 million, or 1 percent, from the third quarter of 2016. The year-over-year decrease was primarily driven by the decline in average automobile loans. Average automobile loans decreased 2 percent sequentially and 12 percent from a year ago. Average residential mortgage loans increased 1 percent sequentially and 7 percent from the previous year. Average home equity loans decreased 2 percent sequentially and 9 percent from the third quarter of 2016. Average credit card loans increased 3 percent sequentially and decreased 1 percent from the third quarter of 2016.

5

Deposits

($ in millions)	For the Three Months Ended										% Change
	September 2017		June 2017		March 2017		December 2016		September 2016		Seq		Yr/Yr
Average Deposits
Demand	$	34,850	$	34,915	$	35,084	$	36,412	$	35,918		—		(3%)
Interest checking		25,765		26,014		26,760		25,644		24,475		(1%)		5%
Savings		13,889		14,238		14,117		13,979		14,232		(2%)		(2%)
Money market		20,028		20,278		20,603		20,476		19,706		(1%)		2%
Foreign office(e)		395		380		454		497		524		4%		(25%)
Total transaction deposits	$	94,927	$	95,825	$	97,018	$	97,008	$	94,855		(1%)		—
Other time		3,722		3,745		3,827		3,941		4,020		(1%)		(7%)
Total core deposits	$	98,649	$	99,570	$	100,845	$	100,949	$	98,875		(1%)		—
Certificates - $100,000 and over		2,625		2,623		2,579		2,539		2,768		—		(5%)
Other		560		264		162		115		749		NM		(25%)
Total average deposits	$	101,834	$	102,457	$	103,586	$	103,603	$	102,392		(1%)		(1%)

Average core deposits decreased 1 percent sequentially and were flat from the third quarter of 2016. Average transaction deposits decreased $898 million, or 1 percent, sequentially and were flat from the third quarter of 2016. The sequential decline was primarily driven by decreases in commercial money market account balances as well as consumer savings and demand deposit account balances, partially offset by higher commercial demand deposit account balances and consumer money market account balances. Year-over-year performance was primarily driven by lower commercial demand deposit and money market account balances, largely offset by higher commercial interest checking deposit and consumer money market account balances. Other time deposits decreased by 1 percent sequentially and 7 percent year-over-year.

Average total commercial transaction deposits of $42 billion decreased 1 percent sequentially and 5 percent from the third quarter of 2016. Average total consumer transaction deposits of $53 billion decreased 1 percent sequentially and increased 4 percent from the third quarter of 2016.

6

Wholesale Funding

($ in millions)	For the Three Months Ended										% Change
	September 2017		June 2017		March 2017		December 2016		September 2016		Seq		Yr/Yr
Average Wholesale Funding
Certificates - $100,000 and over	$	2,625	$	2,623	$	2,579	$	2,539	$	2,768		—		(5%)
Other deposits		560		264		162		115		749		NM		(25%)
Federal funds purchased		675		311		639		280		446		NM		51%
Other short-term borrowings		4,212		4,194		1,893		1,908		2,171		—		94%
Long-term debt		13,457		13,273		13,856		15,173		16,102		1%		(16%)
Total average wholesale funding	$	21,529	$	20,665	$	19,129	$	20,015	$	22,236		4%		(3%)

Average wholesale funding of $21.5 billion increased $864 million, or 4 percent, sequentially and decreased $707 million, or 3 percent, compared with the third quarter of 2016. The sequential increase in average wholesale funding was primarily driven by an increase in federal funds purchased and other borrowings to offset a decline in core deposits, as well as the full quarter’s impact of $700 million of 5-year holding company debt issued in June of 2017. The year-over-year decrease in wholesale funding was primarily driven by lower long-term debt balances concurrent with declining asset balances.

Noninterest Income

($ in millions)	For the Three Months Ended										% Change
	September 2017		June 2017		March 2017		December 2016		September 2016		Seq		Yr/Yr
Noninterest Income
Service charges on deposits	$	138	$	139	$	138	$	141	$	143		(1%)		(3%)
Corporate banking revenue		101		101		74		101		111		—		(9%)
Mortgage banking net revenue		63		55		52		65		66		15%		(5%)
Wealth and asset management revenue		102		103		108		100		101		(1%)		1%
Card and processing revenue		79		79		74		79		79		—		—
Other noninterest income		1,076		85		77		137		336		NM		NM
Securities gains (losses), net		—		—		—		(3)		4		NM		(100%)
Securities gains, net - non-qualifying hedges on mortgage servicing rights		2		2		—		—		—		—		NM
Total noninterest income	$	1,561	$	564	$	523	$	620	$	840		NM		86%

Noninterest income of $1.6 billion increased $997 million sequentially and increased $721 million compared with prior year results. The sequential and year-over-year comparisons reflect the impacts described below.

7

Noninterest Income excluding certain items

($ in millions)	For the Three Months Ended						% Change
	September 2017		June 2017		September 2016		Seq		Yr/Yr
Noninterest Income excluding certain items
Noninterest income (U.S. GAAP)	$	1,561	$	564	$	840
Valuation of Visa total return swap		47		9		12
Gain on sale of Vantiv shares		(1,037)		—		—
Branch / land impairment charge		—		—		28
Transfer of certain nonconforming investments under Volcker to HFS		—		—		9
Vantiv warrant valuation		—		—		2
Gain on sale of a non-branch facility		—		—		(11)
Gain from termination and settlement of Vantiv TRA and the expected obligation to terminate and settle the remaining TRA cash flows upon exercise of put or call options		—		—		(280)
Securities (gains) / losses		—		—		(4)
Noninterest income excluding certain items(b)	$	571	$	573	$	596		—		(4%)

Excluding the items in the table above, noninterest income of $571 million was flat from the previous quarter and decreased 4 percent, from the third quarter of 2016. The sequential performance was primarily driven by decreases in service charges on deposits, wealth and asset management revenue, and other noninterest income, offset by an increase in mortgage banking net revenue. The year-over-year decrease was driven by declines in corporate banking revenue and service charges on deposits.

Corporate banking revenue of $101 million was flat sequentially and decreased 9 percent from the third quarter of 2016. The sequential performance was primarily driven by increases in institutional sales revenue and foreign exchange revenue, partially offset by decreases in lease syndication and remarketing fees. The year-over-year decrease was primarily driven by a decline in lease remarketing fees.

Mortgage Banking Net Revenue

($ in millions)	For the Three Months Ended										% Change
	September 2017		June 2017		March 2017		December 2016		September 2016		Seq		Yr/Yr
Mortgage Banking Net Revenue
Origination fees and gains on loan sales	$	40	$	37	$	29	$	30	$	61		8%		(34%)
Net mortgage servicing revenue:
Gross mortgage servicing fees		56		49		47		48		49		14%		14%
MSR amortization		—		—		—		(35)		(35)		NM		NM
Net valuation adjustments on MSRs and free-standing derivatives purchased to economically hedge MSRs		(33)		(31)		(24)		22		(9)		6%		NM
Net mortgage servicing revenue		23		18		23		35		5		28%		NM
Total mortgage banking net revenue	$	63	$	55	$	52	$	65	$	66		15%		(5%)

Mortgage banking net revenue was $63 million in the third quarter of 2017, up $8 million from the second quarter of 2017 and down $3 million from the third quarter of 2016. The sequential increase was driven by higher gross mortgage servicing fees. The year-over-year decrease was driven by lower origination fees and gains on loans, partially offset by higher gross mortgage servicing fees. Originations of $2.1 billion in the current quarter decreased 6 percent sequentially and decreased 26 percent from the third quarter of 2016.

8

Wealth and asset management revenue of $102 million decreased 1 percent from the second quarter of 2017 and increased 1 percent from the third quarter of 2016. The sequential decrease was primarily driven by lower brokerage revenue, partially offset by higher personal asset management revenue. The year-over-year increase was primarily driven by higher personal asset management revenue.

Card and processing revenue of $79 million in the third quarter of 2017 was flat both sequentially and from the third quarter of 2016.The sequential and year-over-year performance reflected increased credit card spend volume, offset by higher rewards.

Other noninterest income totaled $1.1 billion in the third quarter of 2017, compared with $85 million in the previous quarter and $336 million in the third quarter of 2016. The reported results included Vantiv-related transactions and adjustments, the valuation of the Visa total return swap, and other items as shown in the table on page 8. For the third quarter of 2017, excluding these items, other noninterest income of $86 million decreased approximately $8 million, or 9 percent, from the second quarter of 2017 and decreased $10 million, or 10 percent, from the third quarter of 2016.

Net gains/losses on investment securities were immaterial in the third quarter of 2017 and second quarter of 2017, compared with a $4 million net gain in the third quarter of 2016. Net gains on securities held as non-qualifying hedges for the MSR portfolio were $2 million in the third quarter of 2017 and second quarter of 2017.

Noninterest Expense

($ in millions)	For the Three Months Ended										% Change
	September 2017		June 2017		March 2017		December 2016		September 2016		Seq		Yr/Yr
Noninterest Expense
Salaries, wages and incentives	$	407	$	397	$	411	$	403	$	400		3%		2%
Employee benefits		77		86		111		76		78		(10%)		(1%)
Net occupancy expense		74		70		78		73		73		6%		1%
Technology and communications		62		57		58		56		62		9%		—
Equipment expense		30		29		28		29		29		3%		3%
Card and processing expense		32		33		30		31		30		(3%)		7%
Other noninterest expense		293		285		270		292		301		3%		(3%)
Total noninterest expense	$	975	$	957	$	986	$	960	$	973		2%		—

Noninterest expense of $975 million increased $18 million, or 2 percent, compared with the second quarter of 2017, and was flat compared with the third quarter of 2016. The sequential increase was driven by higher salaries, wages and incentives, technology and communications expense, and additional marketing expense included in other noninterest expense, partially offset by lower employee benefits expense. The year-over-year performance was impacted by higher salaries, wages and incentives, offset by lower other noninterest expense.

9

Credit Quality

($ in millions)	For the Three Months Ended
	September 2017		June 2017		March 2017		December 2016		September 2016
Total net losses charged-off
Commercial and industrial loans	($	27)	($	18)	($	36)	($	25)	($	61)
Commercial mortgage loans		(3)		(5)		(5)		(2)		(2)
Commercial construction loans		—		—		—		—		—
Commercial leases		—		(1)		(1)		(1)		—
Residential mortgage loans		1		(2)		(5)		(2)		(2)
Home equity		(3)		(5)		(6)		(6)		(7)
Automobile loans		(8)		(6)		(11)		(11)		(9)
Credit card		(20)		(22)		(22)		(19)		(20)
Other consumer loans and leases		(8)		(5)		(3)		(7)		(6)
Total net losses charged-off	($	68)	($	64)	($	89)	($	73)	($	107)
Total losses charged-off	($	85)	($	95)	($	107)	($	97)	($	137)
Total recoveries of losses previously charged-off		17		31		18		24		30
Total net losses charged-off	($	68)	($	64)	($	89)	($	73)	($	107)
Ratios (annualized)
Net losses charged-off as a percent of average portfolio loans and leases (excluding held for sale)		0.29%		0.28%		0.40%		0.31%		0.45%
Commercial		0.21%		0.17%		0.29%		0.20%		0.43%
Consumer		0.43%		0.46%		0.56%		0.49%		0.49%

Net charge-offs were $68 million, or 29 bps of average portfolio loans and leases on an annualized basis, in the third quarter of 2017 compared with net charge-offs of $64 million, or 28 bps, in the second quarter of 2017 and $107 million, or 45 bps, in the third quarter of 2016.

Commercial net charge-offs of $30 million, or 21 bps, increased $6 million sequentially. This primarily reflected a $9 million increase in net charge-offs of C&I loans, partially offset by a $2 million decrease in net charge-offs of commercial mortgage loans.

Consumer net charge-offs of $38 million, or 43 bps, decreased $2 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 $2 million from the previous quarter. Net charge-offs on the auto portfolio increased $2 million from the previous quarter. Net charge-offs on credit card loans decreased $2 million from the previous quarter. Net charge-offs on other consumer loans increased $3 million sequentially.

10

($ in millions)	For the Three Months Ended
	September 2017		June 2017		March 2017		December 2016		September 2016
Allowance for Credit Losses
Allowance for loan and lease losses, beginning	$	1,226	$	1,238	$	1,253	$	1,272	$	1,299
Total net losses charged-off		(68)		(64)		(89)		(73)		(107)
Provision for loan and lease losses		67		52		74		54		80
Deconsolidation of a variable interest entity		(20)		—		—		—		—
Allowance for loan and lease losses, ending	$	1,205	$	1,226	$	1,238	$	1,253	$	1,272
Reserve for unfunded commitments, beginning	$	162	$	159	$	161	$	162	$	151
Provision for unfunded commitments		(5)		3		(2)		(1)		11
Reserve for unfunded commitments, ending	$	157	$	162	$	159	$	161	$	162
Components of allowance for credit losses:
Allowance for loan and lease losses	$	1,205	$	1,226	$	1,238	$	1,253	$	1,272
Reserve for unfunded commitments		157		162		159		161		162
Total allowance for credit losses	$	1,362	$	1,388	$	1,397	$	1,414	$	1,434
Allowance for loan and lease losses ratio
As a percent of portfolio loans and leases		1.31%		1.34%		1.35%		1.36%		1.37%
As a percent of nonperforming loans and leases(f)		238%		200%		188%		190%		212%
As a percent of nonperforming assets(f)		217%		185%		172%		170%		182%

As of quarter end, the allowance for loan and lease loss ratio represented 1.31 percent of total portfolio loans and leases outstanding, compared with 1.34 percent last quarter, and represented 238 percent of nonperforming loans and leases, and 217 percent of nonperforming assets.

The provision for loan and lease losses totaled $67 million in the third quarter of 2017, up $15 million sequentially. An increase in period end loan balances contributed to the increase in provision. Provision expense decreased $13 million from the third quarter of 2016.

11

($ in millions)	As of
	September 2017		June 2017		March 2017		December 2016		September 2016
Nonperforming Assets and Delinquent Loans
Nonaccrual portfolio loans and leases:
Commercial and industrial loans	$	144	$	225	$	251	$	302	$	235
Commercial mortgage loans		14		15		21		27		31
Commercial construction loans		—		—		—		—		—
Commercial leases		1		1		—		2		—
Residential mortgage loans		19		19		21		17		19
Home equity		56		52		53		55		59
Total nonaccrual portfolio loans and leases (excludes restructured loans)	$	234	$	312	$	346	$	403	$	344
Nonaccrual restructured portfolio commercial loans and leases(g)		214		244		251		192		194
Nonaccrual restructured portfolio consumer loans and leases		58		58		60		65		63
Total nonaccrual portfolio loans and leases	$	506	$	614	$	657	$	660	$	601
Repossessed property		10		11		14		15		13
OREO		39		37		50		63		84
Total nonperforming portfolio assets(f)	$	555	$	662	$	721	$	738	$	698
Nonaccrual loans held for sale		18		7		7		4		91
Nonaccrual restructured loans held for sale		2		1		2		9		9
Total nonperforming assets	$	575	$	670	$	730	$	751	$	798
Restructured Portfolio consumer loans and leases (accrual)	$	929	$	933	$	950	$	959	$	972
Restructured Portfolio commercial loans and leases (accrual)(g)	$	232	$	224	$	277	$	321	$	408
Total loans and leases 30-89 days past due (accrual)	$	252	$	190	$	180	$	231	$	205
Total loans and leases 90 days past due (accrual)	$	77	$	75	$	75	$	84	$	76
Nonperforming portfolio loans and leases as a percent of portfolio loans, leases and other assets, including OREO(f)		0.55%		0.67%		0.72%		0.72%		0.64%
Nonperforming portfolio assets as a percent of portfolio loans and leases and OREO(f)		0.60%		0.72%		0.79%		0.80%		0.75%

Total nonperforming portfolio assets decreased $107 million, or 16 percent, from the previous quarter to $555 million. Portfolio nonperforming loans and leases (NPLs) at quarter-end decreased $108 million from the previous quarter to $506 million. NPLs as a percent of total loans, leases and OREO at quarter end decreased 12 bps from the previous quarter to 0.55 percent.

Commercial portfolio NPLs decreased $112 million from last quarter to $373 million, or 0.66 percent of commercial portfolio loans, leases and OREO. Consumer portfolio NPLs increased $4 million from last quarter to $133 million, or 0.37 percent of consumer portfolio loans, leases and OREO.

OREO balances increased $2 million from the prior quarter to $39 million, and included $18 million in commercial OREO and $21 million in consumer OREO. Repossessed personal property decreased $1 million from the prior quarter to $10 million.

Loans over 90 days past due and still accruing increased $2 million from the second quarter of 2017 at $77 million. Loans 30-89 days past due of $252 million increased $62 million from the previous quarter.

12

Capital and Liquidity Position    

	For the Three Months Ended
	September 2017		June 2017		March 2017		December 2016		September 2016
Capital Position
Average total Bancorp shareholders’ equity to average assets		11.93%		11.84%		11.72%		11.66%		11.83%
Tangible equity(b)		9.84%		9.98%		10.12%		9.82%		9.73%
Tangible common equity (excluding unrealized gains/losses)(b)		8.89%		9.02%		9.15%		8.87%		8.78%
Tangible common equity (including unrealized gains/losses)(b)		9.00%		9.12%		9.20%		8.91%		9.24%
Regulatory capital ratios:
CET1 capital(c)		10.59%		10.63%		10.76%		10.39%		10.17%
Tier I risk-based capital(c)		11.72%		11.76%		11.90%		11.50%		11.27%
Total risk-based capital(c)		15.16%		15.22%		15.45%		15.02%		14.88%
Tier I leverage		9.97%		10.07%		10.15%		9.90%		9.80%
CET1 capital (fully phased-in)(b)(c)		10.47%		10.52%		10.66%		10.29%		10.09%
Book value per share	$	21.30	$	20.42	$	20.13	$	19.82	$	20.44
Tangible book value per share(b)	$	17.86	$	17.11	$	16.89	$	16.60	$	17.22
Modified liquidity coverage ratio (LCR)(h)		124%		115%		119%		128%		115%

Capital ratios remained strong during the quarter. The CET1 ratio was 10.59 percent, the tangible common equity to tangible assets ratio^(b) was 8.89 percent (excluding unrealized gains/losses), and 9.00 percent (including unrealized gains/losses). The Tier I risk-based capital ratio was 11.72 percent, the Total risk-based capital ratio was 15.16 percent, and the Tier I leverage ratio was 9.97 percent.

Book value per share at September 30, 2017 was $21.30 and tangible book value per share^(b) was $17.86, compared with the June 30, 2017 book value per share of $20.42 and tangible book value per share^(b) of $17.11.

Fifth Third entered into or completed multiple share repurchases during the quarter. Below is a summary of those share repurchases.

• On July 31, 2017, Fifth Third settled the forward contract related to the April 26, 2017 $342 million share repurchase agreement. An additional 2.2 million shares were repurchased in connection with the completion of this agreement.

• On August 17, 2017, Fifth Third initially settled a share repurchase agreement whereby Fifth Third would purchase $990 million of its outstanding stock. This reduced third quarter common shares outstanding by 31.5 million shares. Settlement of the forward contract related to this agreement is expected to occur on or before December 18, 2017.

In total, common shares outstanding decreased by approximately 33.4 million shares in the third quarter of 2017 from the second quarter of 2017.

13

Tax Rate

The effective tax rate was 31.9 percent in the third quarter of 2017 compared with 25.9 percent in the second quarter of 2017 and 25.6 percent in the third quarter of 2016. The sequential and year-over-year increase was primarily driven by the impact of the Vantiv sale during the quarter.

Other

On August 9, 2017, Fifth Third Bank exchanged 19.79 million of its Class B Units in Vantiv Holding, LLC for 19.79 million shares of Vantiv, Inc.’s Class A common stock, and Vantiv, Inc. repurchased such newly issued shares of Class A common stock from Fifth Third Bank. During the third quarter, Fifth Third recognized a pre-tax gain of $1.037 billion related to the sale. For more detail on the transaction see the Form 8-K dated August 8, 2017.

Fifth Third Bank owns approximately 15 million units representing an 8.6 percent interest in Vantiv Holding, LLC, convertible into shares of Vantiv, Inc., a publicly traded firm. Based upon Vantiv’s closing price of $70.47 on September 30, 2017, our interest in Vantiv was valued at approximately $1.1 billion. 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 9:00 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 November 7, 2017 by dialing 800-585-8367 for domestic access or 404-537-3406 for international access (passcode 44813627#).

Corporate Profile

Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio. As of September 30, 2017, the Company had $142 billion in assets and operates 1,155 full-service Banking Centers, and 2,465 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 an 8.6% interest in Vantiv Holding, LLC. Fifth Third is among the largest money managers in the Midwest and, as of September 30, 2017, had $348 billion in assets under care, of which it managed $36 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.”

14

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 31.

(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) Average common shares outstanding – diluted were adjusted for the three months ended September 30,2016 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, 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.

15

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 negotiation and (if any) implementation by Vantiv, Inc. and/or Worldpay Group plc of the potential acquisition of Worldpay Group plc by Vantiv, Inc. and such other actions as Vantiv, Inc. and Worldpay Group plc may take in furtherance thereof; and (30) 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 a discussion of these non-GAAP measures and reconciliation to the most directly comparable GAAP measures beginning on page 31.

# # #

16

Quarterly Financial Review for September 30, 2017

Table of Contents

Financial Highlights	18-19
Consolidated Statements of Income	20
Consolidated Balance Sheets	21-22
Consolidated Statements of Changes in Equity	23
Average Balance Sheet and Yield Analysis	24-26
Summary of Loans and Leases	27
Regulatory Capital	28
Summary of Credit Loss Experience	29
Asset Quality	30
Regulation G Non-GAAP Reconciliation	31-32
Segment Presentation	33

17

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
	September 2017		June 2017		September 2016(k)		Seq		Yr/Yr		September 2017		September 2016(k)		Yr/Yr
Income Statement Data
Taxable equivalent net interest income(c)	$	977	$	945	$	913		3%		7%	$	2,861	$	2,730		5%
Noninterest income		1,561		564		840		NM		86%		2,648		2,075		28%
Taxable equivalent total revenue		2,538		1,509		1,753		68%		45%		5,509		4,805		15%
Provision for loan and lease losses		67		52		80		29%		(16%)		193		289		(33%)
Noninterest expense		975		957		973		2%		—		2,918		2,942		(1%)
Net income attributable to Bancorp		1,014		367		516		NM		97%		1,685		1,170		44%
Net income available to common shareholders		999		344		501		NM		99%		1,633		1,118		46%
Earnings Per Share Data
Net income allocated to common shareholders	$	989	$	340	$	496		NM		99%	$	1,615	$	1,106		46%
Average common shares outstanding (in thousands):
Basic		721,280		741,401		750,886		(3%)		(4%)		736,686		761,148		(3%)
Diluted		733,285		752,328		757,856		(3%)		(3%)		748,707		766,776		(2%)
Earnings per share, basic	$	1.37	$	0.46	$	0.66		NM		NM	$	2.19	$	1.45		51%
Earnings per share, diluted		1.35		0.45		0.65		NM		NM		2.16		1.44		50%
Common Share Data
Cash dividends per common share	$	0.16	$	0.14	$	0.13		14%		23%	$	0.44	$	0.39		13%
Book value per share		21.30		20.42		20.44		4%		4%		21.30		20.44		4%
Market price per share		27.98		25.96		20.46		8%		37%		27.98		20.46		37%
Common shares outstanding (in thousands)		705,474		738,873		755,582		(5%)		(7%)		705,474		755,582		(7%)
Market capitalization	$	19,739	$	19,181	$	15,459		3%		28%	$	19,739	$	15,459		28%
Financial Ratios
Return on average assets		2.85%		1.05%		1.44%		180		141		1.60%		1.10%		50
Return on average common equity		25.6%		9.0%		12.8%		1,660		1,280		14.3%		9.8%		451
Return on average tangible common equity(a)(c)		30.4%		10.7%		15.2%		1,970		1,520		17.0%		11.6%		540
Noninterest income as a percent of total revenue		62%		37%		48%		2,500		1,400		48%		43%		500
Dividend payout ratio		11.7%		30.4%		19.7%		(1,870)		(800)		20.1%		26.9%		(680)
Average total Bancorp shareholders’ equity as a percent of average assets		11.93%		11.84%		11.83%		9		10		11.83%		11.67%		16
Tangible common equity(b)(c)		8.89%		9.02%		8.78%		(13)		11		8.89%		8.78%		11
Taxable equivalent net interest margin(c)		3.07%		3.01%		2.88%		6		19		3.03%		2.88%		15
Taxable equivalent efficiency(c)		38.4%		63.4%		55.5%		(2,500)		(1,710)		53.0%		61.2%		(820)
Effective tax rate		31.9%		25.9%		25.6%		600		630		29.2%		25.0%		420
Credit Quality
Net losses charged-off	$	68	$	64	$	107		(6%)		(36%)	$	221	$	289		(24%)
Net losses charged-off as a percent of average portfolio loans and leases		0.29%		0.28%		0.45%		1		(16)		0.32%		0.41%		(9)
ALLL as a percent of portfolio loans and leases		1.31%		1.34%		1.37%		(3)		(6)		1.31%		1.37%		(6)
Allowance for credit losses as a percent of portfolio loans and leases(j)		1.48%		1.52%		1.54%		(4)		(6)		1.48%		1.54%		(6)
Nonperforming portfolio assets as a percent of portfolio loans and leases and OREO(d)		0.60%		0.72%		0.75%		(12)		(15)		0.60%		0.75%		(15)
Average Balances
Loans and leases, including held for sale	$	92,617	$	92,653	$	94,417		—		(2%)	$	92,686	$	94,434		(2%)
Total securities and other short-term investments		33,826		33,481		31,675		1%		7%		33,497		31,763		5%
Total assets		140,992		140,344		142,726		—		(1%)		140,495		142,410		(1%)
Transaction deposits(e)		94,927		95,825		94,855		(1%)		—		95,916		94,821		1%
Core deposits(f)		98,649		99,570		98,875		(1%)		—		99,680		98,854		1%
Wholesale funding(g)		21,529		20,665		22,236		4%		(3%)		20,450		22,418		(9%)
Bancorp shareholders’ equity		16,820		16,615		16,883		1%		—		16,623		16,615		—
Capital and Liquidity Ratios(h)
CET1 capital(i)		10.59%		10.63%		10.17%		(4)		42		10.59%		10.17%		42
Tier I risk-based capital(i)		11.72%		11.76%		11.27%		(4)		45		11.72%		11.27%		45
Total risk-based capital(i)		15.16%		15.22%		14.88%		(6)		28		15.16%		14.88%		28
Tier I leverage		9.97%		10.07%		9.80%		(10)		17		9.97%		9.80%		17
CET1 capital (fully phased-in)(i)(c)		10.47%		10.52%		10.09%		(5)		38		10.47%		10.09%		38
Modified liquidity coverage ratio (LCR)		124%		115%		115%		8%		8%		124%		115%		8%
Operations
Banking centers		1,155		1,157		1,191		—		(3%)		1,155		1,191		(3%)
ATMs		2,465		2,461		2,497		—		(1%)		2,465		2,497		(1%)
Full-time equivalent employees		17,797		17,744		18,072		—		(2%)		17,797		18,072		(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 31.

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

18

Fifth Third Bancorp and Subsidiaries    

Financial Highlights    

$ in millions, except per share data     

(unaudited)

	For the Three Months Ended
	September 2017		June 2017		March 2017		December 2016		September 2016(k)
Income Statement Data
Taxable equivalent net interest income(c)	$	977	$	945	$	939	$	909	$	913
Noninterest income		1,561		564		523		620		840
Taxable equivalent total revenue		2,538		1,509		1,462		1,529		1,753
Provision for loan and lease losses		67		52		74		54		80
Noninterest expense		975		957		986		960		973
Net income attributable to Bancorp		1,014		367		305		395		516
Net income available to common shareholders		999		344		290		372		501
Earnings Per Share Data
Net income allocated to common shareholders	$	989	$	340	$	286	$	368	$	496
Average common shares outstanding (in thousands):
Basic		721,280		741,401		747,668		746,367		750,886
Diluted		733,285		752,328		760,809		757,704		757,856
Earnings per share, basic	$	1.37	$	0.46	$	0.38	$	0.49		0.66
Earnings per share, diluted		1.35		0.45		0.38		0.49		0.65
Common Share Data
Cash dividends per common share	$	0.16	$	0.14	$	0.14	$	0.14	$	0.13
Book value per share		21.30		20.42		20.13		19.82		20.44
Market price per share		27.98		25.96		25.40		26.97		20.46
Common shares outstanding (in thousands)		705,474		738,873		750,145		750,479		755,582
Market capitalization	$	19,739	$	19,181	$	19,054	$	20,240	$	15,459
Financial Ratios
Return on average assets		2.85%		1.05%		0.88%		1.11%		1.44%
Return on average common equity		25.6%		9.0%		7.8%		9.7%		12.8%
Return on average tangible common equity(a)(c)		30.4%		10.7%		9.3%		11.6%		15.2%
Noninterest income as a percent of total revenue		62%		37%		36%		41%		48%
Dividend payout ratio		11.7%		30.4%		36.8%		28.6%		19.7%
Average total Bancorp shareholders’ equity as a percent of average assets		11.93%		11.84%		11.72%		11.66%		11.83%
Tangible common equity(b)(c)		8.89%		9.02%		9.15%		8.87%		8.78%
Taxable equivalent net interest margin(c)		3.07%		3.01%		3.02%		2.86%		2.88%
Taxable equivalent efficiency ratio(c)		38.4%		63.4%		67.4%		62.8%		55.5%
Effective tax rate		31.9%		25.9%		22.9%		22.6%		25.6%
Credit Quality
Net losses charged-off	$	68	$	64	$	89	$	73	$	107
Net losses charged-off as a percent of average portfolio loans and leases		0.29%		0.28%		0.40%		0.31%		0.45%
ALLL as a percent of portfolio loans and leases		1.31%		1.34%		1.35%		1.36%		1.37%
Allowance for credit losses as a percent of portfolio loans and leases(j)		1.48%		1.52%		1.52%		1.54%		1.54%
Nonperforming portfolio assets as a percent of portfolio loans and leases and OREO(d)		0.60%		0.72%		0.79%		0.80%		0.75%
Average Balances
Loans and leases, including held for sale	$	92,617	$	92,653	$	92,791	$	93,981	$	94,417
Total securities and other short-term investments		33,826		33,481		33,177		32,567		31,675
Total assets		140,992		140,344		140,140		141,837		142,726
Transaction deposits(e)		94,927		95,825		97,018		97,008		94,855
Core deposits(f)		98,649		99,570		100,845		100,949		98,875
Wholesale funding(g)		21,529		20,665		19,129		20,015		22,236
Bancorp shareholders’ equity		16,820		16,615		16,429		16,545		16,883
Capital and Liquidity Ratios(h)
CET1 capital(i)		10.59%		10.63%		10.76%		10.39%		10.17%
Tier I risk-based capital(i)		11.72%		11.76%		11.90%		11.50%		11.27%
Total risk-based capital(i)		15.16%		15.22%		15.45%		15.02%		14.88%
Tier I leverage		9.97%		10.07%		10.15%		9.90%		9.80%
CET1 capital (fully phased-in)(i)(c)		10.47%		10.52%		10.66%		10.29%		10.09%
Modified liquidity coverage ratio (LCR)		124%		115%		119%		128%		115%
Operations
Banking centers		1,155		1,157		1,155		1,191		1,191
ATMs		2,465		2,461		2,471		2,495		2,497
Full-time equivalent employees		17,797		17,744		17,763		17,844		18,072

(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 31.

(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) Average common shares outstanding – diluted were adjusted for the three months ended September 30, 2016, 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

Consolidated Statements of Income

$ in millions

(unaudited)

	For the Three Months Ended						% Change				Year to Date				% Change
	September 2017		June 2017		September 2016		Seq		Yr/Yr		September 2017		September 2016(a)		Yr/Yr
Interest Income
Interest and fees on loans and leases	$	899	$	858	$	816		5%		10%	$	2,595	$	2,429		7%
Interest on securities		249		245		239		2%		4%		739		707		5%
Interest on other short-term investments		4		3		2		33%		100%		10		6		67%
Total interest income		1,152		1,106		1,057		4%		9%		3,344		3,142		6%
Interest Expense
Interest on deposits		73		65		51		12%		43%		197		151		30%
Interest on federal funds purchased		2		1		—		100%		NM		4		2		100%
Interest on other short-term borrowings		12		10		2		20%		NM		24		8		NM
Interest on long-term debt		95		91		97		4%		(2%)		277		269		3%
Total interest expense		182		167		150		9%		21%		502		430		17%
Net Interest Income		970		939		907		3%		7%		2,842		2,712		5%
Provision for loan and lease losses		67		52		80		29%		(16%)		193		289		(33%)
Net Interest Income After Provision for Loan and Lease Losses		903		887		827		2%		9%		2,649		2,423		9%
Noninterest Income
Service charges on deposits		138		139		143		(1%)		(3%)		415		417		—
Corporate banking revenue		101		101		111		—		(9%)		276		330		(16%)
Mortgage banking net revenue		63		55		66		15%		(5%)		170		219		(22%)
Wealth and asset management revenue		102		103		101		(1%)		1%		313		304		3%
Card and processing revenue		79		79		79		—		—		232		240		(3%)
Other noninterest income		1,076		85		336		NM		NM		1,237		552		NM
Securities gains, net		—		—		4		NM		(100%)		1		13		(92%)
Securities gains, net - non-qualifying hedges on mortgage servicing rights		2		2		—		—		NM		4		—		NM
Total noninterest income		1,561		564		840		NM		86%		2,648		2,075		28%
Noninterest Expense
Salaries, wages and incentives		407		397		400		3%		2%		1,215		1,209		—
Employee benefits		77		86		78		(10%)		(1%)		274		263		4%
Net occupancy expense		74		70		73		6%		1%		221		226		(2%)
Technology and communications		62		57		62		9%		—		177		178		(1%)
Equipment expense		30		29		29		3%		3%		88		89		(1%)
Card and processing expense		32		33		30		(3%)		7%		95		101		(6%)
Other noninterest expense		293		285		301		3%		(3%)		848		876		(3%)
Total noninterest expense		975		957		973		2%		—		2,918		2,942		(1%)
Income Before Income Taxes		1,489		494		694		NM		NM		2,379		1,556		53%
Applicable income tax expense		475		127		178		NM		NM		694		390		78%
Net Income		1,014		367		516		NM		97%		1,685		1,166		45%
Less: Net income attributable to noncontrolling interests		—		—		—		NM		NM		—		(4)		(100%)
Net Income Attributable to Bancorp		1,014		367		516		NM		97%		1,685		1,170		44%
Dividends on preferred stock		15		23		15		(35%)		—		52		52		—
Net Income Available to Common Shareholders	$	999	$	344	$	501		NM		99%	$	1,633	$	1,118		46%

(a) Net tax deficiencies of $6 million were reclassified from capital surplus to applicable income tax expense for the nine months ended September 30, 2016, 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 Balance Sheets

$ in millions, except per share data

(unaudited)

	As of						% Change
	September 2017		June 2017		September 2016(d)		Seq		Yr/Yr
Assets
Cash and due from banks	$	2,205	$	2,203	$	2,164		—		2%
Available-for-sale and other securities(a)		31,480		31,823		30,689		(1%)		3%
Held-to-maturity securities(b)		25		26		56		(4%)		(55%)
Trading securities		850		842		431		1%		97%
Other short-term investments		3,298		2,163		2,995		52%		10%
Loans held for sale		711		766		1,060		(7%)		(33%)
Portfolio loans and leases:
Commercial and industrial loans		41,011		40,914		42,727		—		(4%)
Commercial mortgage loans		6,863		6,868		6,856		—		—
Commercial construction loans		4,652		4,366		3,905		7%		19%
Commercial leases		4,043		4,157		3,995		(3%)		1%
Residential mortgage loans		15,588		15,460		14,643		1%		6%
Home equity		7,143		7,301		7,864		(2%)		(9%)
Automobile loans		9,236		9,318		10,349		(1%)		(11%)
Credit card		2,168		2,117		2,169		2%		—
Other consumer loans and leases		1,179		945		643		25%		83%
Portfolio loans and leases		91,883		91,446		93,151		—		(1%)
Allowance for loan and lease losses		(1,205)		(1,226)		(1,272)		(2%)		(5%)
Portfolio loans and leases, net		90,678		90,220		91,879		1%		(1%)
Bank premises and equipment		2,018		2,041		2,084		(1%)		(3%)
Operating lease equipment		663		719		771		(8%)		(14%)
Goodwill		2,423		2,423		2,416		—		—
Intangible assets		18		18		10		—		80%
Servicing rights		848		849		619		—		37%
Other assets		7,047		6,974		8,105		1%		(13%)
Total Assets	$	142,264	$	141,067	$	143,279		1%		(1%)
Liabilities
Deposits:
Demand	$	35,246	$	34,965	$	35,625		1%		(1%)
Interest checking		26,091		25,436		24,483		3%		7%
Savings		13,693		14,068		14,019		(3%)		(2%)
Money market		19,646		20,191		19,910		(3%)		(1%)
Foreign office		609		395		518		54%		18%
Other time		3,756		3,692		3,971		2%		(5%)
Certificates $100,000 and over		2,411		2,633		2,745		(8%)		(12%)
Other		—		500		—		(100%)		—
Total deposits		101,452		101,880		101,271		—		—
Federal funds purchased		118		117		126		1%		(6%)
Other short-term borrowings		5,688		5,389		3,494		6%		63%
Accrued taxes, interest and expenses		2,071		1,617		2,178		28%		(5%)
Other liabilities		2,516		2,162		2,516		16%		—
Long-term debt		14,039		13,456		16,890		4%		(17%)
Total Liabilities		125,884		124,621		126,475		1%		—
Equity
Common stock(c)		2,051		2,051		2,051		—		—
Preferred stock		1,331		1,331		1,331		—		—
Capital surplus		2,682		2,751		2,750		(3%)		(2%)
Retained earnings		14,748		13,862		13,175		6%		12%
Accumulated other comprehensive income		185		163		755		13%		(75%)
Treasury stock		(4,637)		(3,739)		(3,286)		24%		41%
Total Bancorp shareholders’ equity		16,360		16,419		16,776		—		(2%)
Noncontrolling interests		20		27		28		(26%)		(29%)
Total Equity		16,380		16,446		16,804		—		(3%)
Total Liabilities and Equity	$	142,264	$	141,067	$	143,279		1%		(1%)
(a) Amortized cost	$	31,114	$	31,492	$	29,486		(1%)		6%
(b) Market values		25		26		56		(4%)		(55%)
(c) Common shares, stated value $2.22 per share (in thousands):
Authorized		2,000,000		2,000,000		2,000,000		—		—
Outstanding, excluding treasury		705,474		738,873		755,582		(5%)		(7%)
Treasury		218,419		185,020		168,310		18%		30%

(d) Net tax deficiencies of $6 million were reclassified from capital surplus to applicable income tax expense at September 30, 2016, 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
	September 2017		June 2017		March 2017		December 2016		September 2016(d)
Assets
Cash and due from banks	$	2,205	$	2,203	$	2,205	$	2,392	$	2,164
Available-for-sale and other securities(a)		31,480		31,823		31,531		31,183		30,689
Held-to-maturity securities(b)		25		26		26		26		56
Trading securities		850		842		689		410		431
Other short-term investments		3,298		2,163		1,644		2,754		2,995
Loans held for sale		711		766		616		751		1,060
Portfolio loans and leases:
Commercial and industrial loans		41,011		40,914		41,074		41,676		42,727
Commercial mortgage loans		6,863		6,868		6,924		6,899		6,856
Commercial construction loans		4,652		4,366		4,283		3,903		3,905
Commercial leases		4,043		4,157		4,092		3,974		3,995
Residential mortgage loans		15,588		15,460		15,336		15,051		14,643
Home equity		7,143		7,301		7,469		7,695		7,864
Automobile loans		9,236		9,318		9,572		9,983		10,349
Credit card		2,168		2,117		2,070		2,237		2,169
Other consumer loans and leases		1,179		945		808		680		643
Portfolio loans and leases		91,883		91,446		91,628		92,098		93,151
Allowance for loan and lease losses		(1,205)		(1,226)		(1,238)		(1,253)		(1,272)
Portfolio loans and leases, net		90,678		90,220		90,390		90,845		91,879
Bank premises and equipment		2,018		2,041		2,052		2,065		2,084
Operating lease equipment		663		719		702		738		771
Goodwill		2,423		2,423		2,419		2,416		2,416
Intangible assets		18		18		11		9		10
Servicing rights		848		849		776		744		619
Other assets		7,047		6,974		7,139		7,844		8,105
Total Assets	$	142,264	$	141,067	$	140,200	$	142,177	$	143,279
Liabilities
Deposits:
Demand	$	35,246	$	34,965	$	35,362	$	35,782	$	35,625
Interest checking		26,091		25,436		27,230		26,679		24,483
Savings		13,693		14,068		14,360		13,941		14,019
Money market		19,646		20,191		20,585		20,749		19,910
Foreign office		609		395		521		426		518
Other time		3,756		3,692		3,750		3,866		3,971
Certificates $100,000 and over		2,411		2,633		2,348		2,378		2,745
Other		—		500		—		—		—
Total deposits		101,452		101,880		104,156		103,821		101,271
Federal funds purchased		118		117		155		132		126
Other short-term borrowings		5,688		5,389		2,015		3,535		3,494
Accrued taxes, interest and expenses		2,071		1,617		1,655		1,800		2,178
Other liabilities		2,516		2,162		2,104		2,269		2,516
Long-term debt		14,039		13,456		13,658		14,388		16,890
Total Liabilities		125,884		124,621		123,743		125,945		126,475
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		2,682		2,751		2,803		2,756		2,750
Retained earnings		14,748		13,862		13,625		13,441		13,175
Accumulated other comprehensive income		185		163		68		59		755
Treasury stock		(4,637)		(3,739)		(3,448)		(3,433)		(3,286)
Total Bancorp shareholders’ equity		16,360		16,419		16,430		16,205		16,776
Noncontrolling interests		20		27		27		27		28
Total Equity		16,380		16,446		16,457		16,232		16,804
Total Liabilities and Equity	$	142,264	$	141,067	$	140,200	$	142,177	$	143,279
(a) Amortized cost	$	31,114	$	31,492	$	31,348	$	31,024	$	29,486
(b) Market values		25		26		26		26		56
(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		705,474		738,873		750,145		750,479		755,582
Treasury		218,419		185,020		173,748		173,413		168,310

(d) Net tax deficiencies of $6 million were reclassified from capital surplus to applicable income tax expense at September 30, 2016, 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 Statements of Changes in Equity    

$ in millions    

(unaudited)     

	For the Three Months Ended				Year to Date
	September 2017		September 2016		September 2017		September 2016(a)
Total Equity, Beginning	$	16,446	$	16,754	$	16,232	$	15,870
Net income attributable to Bancorp		1,014		516		1,685		1,170
Other comprehensive income, net of tax:
Change in unrealized gains (losses):
Available-for-sale securities		23		(114)		132		527
Qualifying cash flow hedges		(2)		(22)		(9)		26
Change in accumulated other comprehensive income related to employee benefit plans		1		2		3		5
Comprehensive income		1,036		382		1,811		1,728
Cash dividends declared:
Common stock		(114)		(99)		(324)		(300)
Preferred stock		(15)		(15)		(52)		(52)
Impact of stock transactions under stock compensation plans, net		22		21		51		67
Shares acquired for treasury		(990)		(240)		(1,332)		(506)
Noncontrolling interest		(7)		—		(7)		(4)
Other		2		1		1		1
Total Equity, Ending	$	16,380	$	16,804	$	16,380	$	16,804

(a) Net tax deficiencies of $6 million were reclassified from capital surplus to applicable income tax expense for the nine months ended September 30, 2016, 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    

Average Balance Sheet and Yield Analysis    

$ in millions, except share data    

(unaudited)    

	For the Three Months Ended						% Change
	September 2017		June 2017		September 2016		Seq		Yr/Yr
Assets
Interest-earning assets:
Commercial and industrial loans	$	41,314	$	41,656	$	43,125		(1%)		(4%)
Commercial mortgage loans		6,814		6,861		6,891		(1%)		(1%)
Commercial construction loans		4,533		4,306		3,848		5%		18%
Commercial leases		4,079		4,039		3,963		1%		3%
Residential mortgage loans		16,206		16,024		15,346		1%		6%
Home equity		7,207		7,385		7,918		(2%)		(9%)
Automobile loans		9,267		9,410		10,508		(2%)		(12%)
Credit card		2,140		2,080		2,165		3%		(1%)
Other consumer loans and leases		1,057		892		653		18%		62%
Taxable securities		32,289		32,092		29,772		1%		8%
Tax exempt securities		65		68		76		(4%)		(14%)
Other short-term investments		1,472		1,321		1,827		11%		(19%)
Total interest-earning assets		126,443		126,134		126,092		—		—
Cash and due from banks		2,227		2,175		2,289		2%		(3%)
Other assets		13,532		13,272		15,644		2%		(14%)
Allowance for loan and lease losses		(1,210)		(1,237)		(1,299)		(2%)		(7%)
Total Assets	$	140,992	$	140,344	$	142,726		—		(1%)
Liabilities
Interest-bearing liabilities:
Interest checking deposits	$	25,765	$	26,014	$	24,475		(1%)		5%
Savings deposits		13,889		14,238		14,232		(2%)		(2%)
Money market deposits		20,028		20,278		19,706		(1%)		2%
Foreign office deposits		395		380		524		4%		(25%)
Other time deposits		3,722		3,745		4,020		(1%)		(7%)
Certificates $100,000 and over		2,625		2,623		2,768		—		(5%)
Other deposits		560		264		749		NM		(25%)
Federal funds purchased		675		311		446		NM		51%
Other short-term borrowings		4,212		4,194		2,171		—		94%
Long-term debt		13,457		13,273		16,102		1%		(16%)
Total interest-bearing liabilities		85,328		85,320		85,193		—		—
Demand deposits		34,850		34,915		35,918		—		(3%)
Other liabilities		3,973		3,467		4,704		15%		(16%)
Total Liabilities		124,151		123,702		125,815		—		(1%)
Total Equity		16,841		16,642		16,911		1%		—
Total Liabilities and Equity	$	140,992	$	140,344	$	142,726		—		(1%)
	For the Three Months Ended						bps Change
	September		June		September
	2017		2017		2016		Seq		Yr/Yr
Yield Analysis
Interest-earning assets:
Commercial and industrial loans(a)		3.75%		3.60%		3.28%		15		47
Commercial mortgage loans(a)		3.85%		3.65%		3.31%		20		54
Commercial construction loans(a)		4.23%		4.01%		3.43%		22		80
Commercial leases(a)		2.70%		2.73%		2.64%		(3)		6
Residential mortgage loans		3.48%		3.54%		3.51%		(6)		(3)
Home equity		4.39%		4.20%		3.76%		19		63
Automobile loans		2.96%		2.87%		2.71%		9		25
Credit card		11.63%		10.95%		10.34%		68		129
Other consumer loans and leases		6.89%		6.63%		6.90%		26		(1)
Total loans and leases		3.88%		3.74%		3.46%		14		42
Taxable securities		3.06%		3.05%		3.18%		1		(12)
Tax exempt securities(a)		5.33%		5.10%		4.91%		23		42
Other short-term investments		1.16%		0.99%		0.44%		17		72
Total interest-earning assets		3.64%		3.54%		3.36%		10		28
Interest-bearing liabilities:
Interest checking deposits		0.44%		0.38%		0.23%		6		21
Savings deposits		0.06%		0.06%		0.04%		—		2
Money market deposits		0.39%		0.34%		0.27%		5		12
Foreign office deposits		0.21%		0.18%		0.17%		3		4
Other time deposits		1.23%		1.23%		1.24%		—		(1)
Certificates $100,000 and over		1.38%		1.36%		1.28%		2		10
Other deposits		1.16%		0.98%		0.41%		18		75
Federal funds purchased		1.16%		0.94%		0.40%		22		76
Other short-term borrowings		1.09%		0.93%		0.30%		16		79
Long-term debt		2.82%		2.76%		2.40%		6		42
Total interest-bearing liabilities		0.85%		0.79%		0.70%		6		15
Ratios:
Taxable equivalent net interest margin(b)		3.07%		3.01%		2.88%		6		19
Taxable equivalent net interest rate spread		2.79%		2.75%		2.66%		4		13
Interest-bearing liabilities to interest-earning assets		67.48%		67.64%		67.56%		(16)		(8)

(a) Presented on a fully taxable equivalent basis.

(b) Non-GAAP measure; see discussion of non-GAAP and Reg. G reconciliation beginning on page 31.

24

Fifth Third Bancorp and Subsidiaries    

Average Balance Sheet and Yield Analysis    

$ in millions, except share data    

(unaudited)

	Year to Date				% Change
	September 2017		September 2016		Yr/Yr
Assets
Interest-earning assets:
Commercial and industrial loans	$	41,619	$	43,376		(4%)
Commercial mortgage loans		6,873		6,878		—
Commercial construction loans		4,277		3,567		20%
Commercial leases		4,008		3,914		2%
Residential mortgage loans		16,011		14,866		8%
Home equity		7,389		8,072		(8%)
Automobile loans		9,486		10,892		(13%)
Credit card		2,121		2,213		(4%)
Other consumer loans and leases		902		656		38%
Taxable securities		32,067		29,798		8%
Tax exempt securities		63		80		(21%)
Other short-term investments		1,367		1,885		(27%)
Total interest-earning assets		126,183		126,197		—
Cash and due from banks		2,202		2,284		(4%)
Other assets		13,343		15,218		(12%)
Allowance for loan and lease losses		(1,233)		(1,289)		(4%)
Total Assets	$	140,495	$	142,410		(1%)
Liabilities
Interest-bearing liabilities:
Interest checking deposits	$	26,176	$	24,974		5%
Savings deposits		14,081		14,469		(3%)
Money market deposits		20,301		19,203		6%
Foreign office deposits		409		497		(18%)
Other time deposits		3,764		4,033		(7%)
Certificates $100,000 and over		2,609		2,801		(7%)
Other deposits		330		407		(19%)
Federal funds purchased		542		582		(7%)
Other short-term borrowings		3,441		3,160		9%
Long-term debt		13,528		15,468		(13%)
Total interest-bearing liabilities		85,181		85,594		—
Demand deposits		34,949		35,678		(2%)
Other liabilities		3,717		4,492		(17%)
Total Liabilities		123,847		125,764		(2%)
Total Equity		16,648		16,646		—
Total Liabilities and Equity	$	140,495	$	142,410		(1%)
	Year to Date				bps Change
	September 2017		September 2016		Yr/Yr
Yield Analysis
Interest-earning assets:
Commercial and industrial loans(a)		3.61%		3.25%		36
Commercial mortgage loans(a)		3.68%		3.29%		39
Commercial construction loans(a)		4.01%		3.39%		62
Commercial leases(a)		2.71%		2.71%		—
Residential mortgage loans		3.53%		3.57%		(4)
Home equity		4.19%		3.79%		40
Automobile loans		2.88%		2.68%		20
Credit card		11.84%		10.48%		136
Other consumer loans and leases		6.70%		6.51%		19
Total loans and leases		3.77%		3.46%		31
Taxable securities		3.08%		3.16%		(8)
Tax exempt securities(a)		5.38%		4.43%		95
Other short-term investments		0.97%		0.43%		54
Total interest-earning assets		3.56%		3.35%		21
Interest-bearing liabilities:
Interest checking deposits		0.38%		0.23%		15
Savings deposits		0.06%		0.05%		1
Money market deposits		0.35%		0.26%		9
Foreign office deposits		0.17%		0.16%		1
Other time deposits		1.23%		1.23%		—
Certificates $100,000 and over		1.36%		1.28%		8
Other deposits		1.03%		0.41%		62
Federal funds purchased		0.94%		0.38%		56
Other short-term borrowings		0.92%		0.36%		56
Long-term debt		2.75%		2.33%		42
Total interest-bearing liabilities		0.79%		0.67%		12
Ratios:
Taxable equivalent net interest margin(b)		3.03%		2.88%		15
Taxable equivalent net interest rate spread		2.77%		2.68%		9
Interest-bearing liabilities to interest-earning assets		67.51%		67.83%		(32)

(a) Presented on a fully taxable equivalent basis.

(b) Non-GAAP measure; see discussion of non-GAAP and Reg. G reconciliation beginning on page 31.

25

Fifth Third Bancorp and Subsidiaries    

Average Balance Sheet and Yield Analysis    

$ in millions, except share data

(unaudited)

	For the Three Months Ended
	September 2017		June 2017		March 2017		December 2016		September 2016
Assets
Interest-earning assets:
Commercial and industrial loans	$	41,314	$	41,656	$	41,892	$	42,612	$	43,125
Commercial mortgage loans		6,814		6,861		6,946		6,961		6,891
Commercial construction loans		4,533		4,306		3,987		3,890		3,848
Commercial leases		4,079		4,039		3,904		3,921		3,963
Residential mortgage loans		16,206		16,024		15,800		15,802		15,346
Home equity		7,207		7,385		7,581		7,779		7,918
Automobile loans		9,267		9,410		9,786		10,162		10,508
Credit card		2,140		2,080		2,141		2,180		2,165
Other consumer loans and leases		1,057		892		754		674		653
Taxable securities		32,289		32,092		31,815		30,677		29,772
Tax exempt securities		65		68		55		81		76
Other short-term investments		1,472		1,321		1,307		1,809		1,827
Total interest-earning assets		126,443		126,134		125,968		126,548		126,092
Cash and due from banks		2,227		2,175		2,205		2,358		2,289
Other assets		13,532		13,272		13,220		14,203		15,644
Allowance for loan and lease losses		(1,210)		(1,237)		(1,253)		(1,272)		(1,299)
Total Assets	$	140,992	$	140,344	$	140,140	$	141,837	$	142,726
Liabilities
Interest-bearing liabilities:
Interest checking deposits	$	25,765	$	26,014	$	26,760	$	25,644	$	24,475
Savings deposits		13,889		14,238		14,117		13,979		14,232
Money market deposits		20,028		20,278		20,603		20,476		19,706
Foreign office deposits		395		380		454		497		524
Other time deposits		3,722		3,745		3,827		3,941		4,020
Certificates $100,000 and over		2,625		2,623		2,579		2,539		2,768
Other deposits		560		264		162		115		749
Federal funds purchased		675		311		639		280		446
Other short-term borrowings		4,212		4,194		1,893		1,908		2,171
Long-term debt		13,457		13,273		13,856		15,173		16,102
Total interest-bearing liabilities		85,328		85,320		84,890		84,552		85,193
Demand deposits		34,850		34,915		35,084		36,412		35,918
Other liabilities		3,973		3,467		3,710		4,300		4,704
Total Liabilities		124,151		123,702		123,684		125,264		125,815
Total Equity		16,841		16,642		16,456		16,573		16,911
Total Liabilities and Equity	$	140,992	$	140,344	$	140,140	$	141,837	$	142,726
Yield Analysis
Interest-earning assets:
Commercial and industrial loans(a)		3.75%		3.60%		3.47%		3.33%		3.28%
Commercial mortgage loans(a)		3.85%		3.65%		3.54%		3.42%		3.31%
Commercial construction loans(a)		4.23%		4.01%		3.77%		3.50%		3.43%
Commercial leases(a)		2.70%		2.73%		2.70%		2.64%		2.64%
Residential mortgage loans		3.48%		3.54%		3.57%		3.48%		3.51%
Home equity		4.39%		4.20%		3.98%		3.73%		3.76%
Automobile loans		2.96%		2.87%		2.81%		2.80%		2.71%
Credit card		11.63%		10.95%		12.92%		7.30%		10.34%
Other consumer loans and leases		6.89%		6.63%		6.49%		6.73%		6.90%
Total loans and leases		3.88%		3.74%		3.69%		3.43%		3.46%
Taxable securities		3.06%		3.05%		3.11%		3.17%		3.18%
Tax exempt securities(a)		5.33%		5.10%		5.79%		4.76%		4.91%
Other short-term investments		1.16%		0.99%		0.73%		0.47%		0.44%
Total interest-earning assets		3.64%		3.54%		3.51%		3.33%		3.36%
Interest-bearing liabilities:
Interest checking deposits		0.44%		0.38%		0.31%		0.25%		0.23%
Savings deposits		0.06%		0.06%		0.05%		0.04%		0.04%
Money market deposits		0.39%		0.34%		0.32%		0.30%		0.27%
Foreign office deposits		0.21%		0.18%		0.13%		0.15%		0.17%
Other time deposits		1.23%		1.23%		1.23%		1.24%		1.24%
Certificates $100,000 and over		1.38%		1.36%		1.35%		1.35%		1.28%
Other deposits		1.16%		0.98%		0.64%		0.41%		0.41%
Federal funds purchased		1.16%		0.94%		0.70%		0.41%		0.40%
Other short-term borrowings		1.09%		0.93%		0.55%		0.36%		0.30%
Long-term debt		2.82%		2.76%		2.65%		2.42%		2.40%
Total interest-bearing liabilities		0.85%		0.79%		0.73%		0.70%		0.70%
Ratios:
Taxable equivalent net interest margin(b)		3.07%		3.01%		3.02%		2.86%		2.88%
Taxable equivalent net interest rate spread		2.79%		2.75%		2.78%		2.63%		2.66%
Interest-bearing liabilities to interest-earning assets		67.48%		67.64%		67.39%		66.81%		67.56%

(a) Presented on a fully taxable equivalent basis.

(b) Non-GAAP measure; see discussion of non-GAAP and Reg. G reconciliation beginning on page 31.

26

Fifth Third Bancorp and Subsidiaries    

Summary of Loans and Leases    

$ in millions    

(unaudited)    

	For the Three Months Ended
	September 2017		June 2017		March 2017		December 2016		September 2016
Average Portfolio Loans and Leases
Commercial loans and leases:
Commercial and industrial loans	$	41,302	$	41,601	$	41,854	$	42,548	$	43,116
Commercial mortgage loans		6,807		6,845		6,941		6,957		6,888
Commercial construction loans		4,533		4,306		3,987		3,890		3,848
Commercial leases		4,072		4,036		3,901		3,921		3,962
Total commercial loans and leases		56,714		56,788		56,683		57,316		57,814
Consumer loans and leases:
Residential mortgage loans		15,523		15,417		15,200		14,854		14,455
Home equity		7,207		7,385		7,581		7,779		7,918
Automobile loans		9,267		9,410		9,786		10,162		10,508
Credit card		2,140		2,080		2,141		2,180		2,165
Other consumer loans and leases		1,055		892		755		673		651
Total consumer loans and leases		35,192		35,184		35,463		35,648		35,697
Total average portfolio loans and leases	$	91,906	$	91,972	$	92,146	$	92,964	$	93,511
Average loans held for sale	$	711	$	681	$	645	$	1,017	$	906
End of Period Portfolio Loans and Leases
Commercial loans and leases:
Commercial and industrial loans	$	41,011	$	40,914	$	41,074	$	41,676	$	42,727
Commercial mortgage loans		6,863		6,868		6,924		6,899		6,856
Commercial construction loans		4,652		4,366		4,283		3,903		3,905
Commercial leases		4,043		4,157		4,092		3,974		3,995
Total commercial loans and leases		56,569		56,305		56,373		56,452		57,483
Consumer loans and leases:
Residential mortgage loans		15,588		15,460		15,336		15,051		14,643
Home equity		7,143		7,301		7,469		7,695		7,864
Automobile loans		9,236		9,318		9,572		9,983		10,349
Credit card		2,168		2,117		2,070		2,237		2,169
Other consumer loans and leases		1,179		945		808		680		643
Total consumer loans and leases		35,314		35,141		35,255		35,646		35,668
Total portfolio loans and leases	$	91,883	$	91,446	$	91,628	$	92,098	$	93,151
Total loans held for sale	$	711	$	766	$	616	$	751	$	1,060
Operating lease equipment	$	663	$	719	$	702	$	738	$	771
Loans and leases serviced for others:(a)
Commercial and industrial loans	$	449	$	495	$	515	$	519	$	544
Commercial mortgage loans		228		242		223		226		226
Commercial construction loans		72		62		54		41		38
Commercial leases		257		261		270		280		270
Residential mortgage loans		60,783		61,803		55,413		53,554		54,646
Automobile loans		—		—		—		51		66
Total loans and leases serviced for others		61,789		62,863		56,475		54,671		55,790
Total loans and leases serviced	$	155,046	$	155,794	$	149,421	$	148,258	$	150,772

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

27

Fifth Third Bancorp and Subsidiaries    

Regulatory Capital    

$ in millions    

(unaudited)    

	As of
	September 2017(a)		June 2017		March 2017		December 2016		September 2016
Regulatory capital:
Common stock and related surplus (net of treasury stock)	$	96	$	1,063	$	1,407	$	1,374	$	1,510
Retained earnings		14,748		13,862		13,625		13,441		13,175
Common equity tier I capital adjustments and deductions		(2,401)		(2,403)		(2,396)		(2,389)		(2,386)
CET1 capital		12,443		12,522		12,636		12,426		12,299
Additional tier I capital		1,330		1,331		1,331		1,330		1,331
Tier I capital		13,773		13,853		13,967		13,756		13,630
Tier II capital		4,043		4,074		4,172		4,216		4,374
Total regulatory capital	$	17,816	$	17,927	$	18,139	$	17,972	$	18,004
Risk-weighted assets(b)	$	117,527	$	117,761	$	117,407	$	119,632	$	120,954
Ratios:
Average shareholders’ equity to average assets		11.93%		11.84%		11.72%		11.66%		11.83%
Regulatory Capital Ratios:
Fifth Third Bancorp
CET1 capital(b)		10.59%		10.63%		10.76%		10.39%		10.17%
Tier I risk-based capital(b)		11.72%		11.76%		11.90%		11.50%		11.27%
Total risk-based capital(b)		15.16%		15.22%		15.45%		15.02%		14.88%
Tier I leverage		9.97%		10.07%		10.15%		9.90%		9.80%
CET1 capital (fully phased-in)(b)(c)		10.47%		10.52%		10.66%		10.29%		10.09%
Fifth Third Bank
Tier I risk-based capital(b)		12.30%		12.24%		12.17%		11.92%		11.98%
Total risk-based capital(b)		14.14%		14.08%		14.03%		13.76%		13.82%
Tier I leverage		10.50%		10.50%		10.41%		10.30%		10.46%

(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 31.

28

Fifth Third Bancorp and Subsidiaries

Summary of Credit Loss Experience

$ in millions

(unaudited)

	For the Three Months Ended
	September 2017		June 2017		March 2017		December 2016		September 2016
Average portfolio loans and leases:
Commercial and industrial loans	$	41,302	$	41,601	$	41,854	$	42,548	$	43,116
Commercial mortgage loans		6,807		6,845		6,941		6,957		6,888
Commercial construction loans		4,533		4,306		3,987		3,890		3,848
Commercial leases		4,072		4,036		3,901		3,921		3,962
Residential mortgage loans		15,523		15,417		15,200		14,854		14,455
Home equity		7,207		7,385		7,581		7,779		7,918
Automobile loans		9,267		9,410		9,786		10,162		10,508
Credit card		2,140		2,080		2,141		2,180		2,165
Other consumer loans and leases		1,055		892		755		673		651
Total average portfolio loans and leases	$	91,906	$	91,972	$	92,146	$	92,964	$	93,511
Losses charged-off:
Commercial and industrial loans	($	30)	($	34)	($	39)	($	35)	($	76)
Commercial mortgage loans		(3)		(6)		(6)		(4)		(4)
Commercial construction loans		—		—		—		—		—
Commercial leases		—		(1)		(1)		(1)		(1)
Residential mortgage loans		(2)		(4)		(6)		(4)		(4)
Home equity		(6)		(9)		(9)		(10)		(10)
Automobile loans		(13)		(12)		(17)		(15)		(14)
Credit card		(23)		(24)		(24)		(21)		(22)
Other consumer loans and leases		(8)		(5)		(5)		(7)		(6)
Total losses charged-off	($	85)	($	95)	($	107)	($	97)	($	137)
Recoveries of losses previously charged-off:
Commercial and industrial loans	$	3	$	16	$	3	$	10	$	15
Commercial mortgage loans		—		1		1		2		2
Commercial construction loans		—		—		—		—		—
Commercial leases		—		—		—		—		1
Residential mortgage loans		3		2		1		2		2
Home equity		3		4		3		4		3
Automobile loans		5		6		6		4		5
Credit card		3		2		2		2		2
Other consumer loans and leases		—		—		2		—		—
Total recoveries of losses previously charged-off	$	17	$	31	$	18	$	24	$	30
Net losses charged-off:
Commercial and industrial loans	($	27)	($	18)	($	36)	($	25)	($	61)
Commercial mortgage loans		(3)		(5)		(5)		(2)		(2)
Commercial construction loans		—		—		—		—		—
Commercial leases		—		(1)		(1)		(1)		—
Residential mortgage loans		1		(2)		(5)		(2)		(2)
Home equity		(3)		(5)		(6)		(6)		(7)
Automobile loans		(8)		(6)		(11)		(11)		(9)
Credit card		(20)		(22)		(22)		(19)		(20)
Other consumer loans and leases		(8)		(5)		(3)		(7)		(6)
Total net losses charged-off	($	68)	($	64)	($	89)	($	73)	($	107)
Net losses charged-off as a percent of average portfolio loans and leases:
Commercial and industrial loans		0.26%		0.17%		0.34%		0.24%		0.56%
Commercial mortgage loans		0.16%		0.33%		0.29%		0.11%		0.08%
Commercial construction loans		0.00%		0.00%		0.00%		0.00%		0.00%
Commercial leases		0.01%		0.06%		0.08%		0.12%		0.00%
Residential mortgage loans		(0.02%)		0.04%		0.13%		0.06%		0.07%
Home equity		0.18%		0.27%		0.33%		0.35%		0.32%
Automobile loans		0.35%		0.27%		0.48%		0.40%		0.35%
Credit card		3.75%		4.22%		4.03%		3.52%		3.61%
Other consumer loans and leases		2.80%		2.31%		2.89%		3.30%		3.70%
Total net losses charged-off as a percent of average portfolio loans and leases		0.29%		0.28%		0.40%		0.31%		0.45%

29

Fifth Third Bancorp and Subsidiaries

Asset Quality

$ in millions

(unaudited)

	For the Three Months Ended
	September 2017		June 2017		March 2017		December 2016		September 2016
Allowance for Credit Losses
Allowance for loan and lease losses, beginning	$	1,226	$	1,238	$	1,253	$	1,272	$	1,299
Total net losses charged-off		(68)		(64)		(89)		(73)		(107)
Provision for loan and lease losses		67		52		74		54		80
Deconsolidation of a variable interest entity		(20)		—		—		—		—
Allowance for loan and lease losses, ending	$	1,205	$	1,226	$	1,238	$	1,253	$	1,272
Reserve for unfunded commitments, beginning	$	162	$	159	$	161	$	162	$	151
Provision for unfunded commitments		(5)		3		(2)		(1)		11
Reserve for unfunded commitments, ending	$	157	$	162	$	159	$	161	$	162
Components of allowance for credit losses:
Allowance for loan and lease losses	$	1,205	$	1,226	$	1,238	$	1,253	$	1,272
Reserve for unfunded commitments		157		162		159		161		162
Total allowance for credit losses	$	1,362	$	1,388	$	1,397	$	1,414	$	1,434
	As of
	September 2017		June 2017		March 2017		December 2016		September 2016
Nonperforming Assets and Delinquent Loans
Nonaccrual portfolio loans and leases:
Commercial and industrial loans	$	144	$	225	$	251	$	302	$	235
Commercial mortgage loans		14		15		21		27		31
Commercial leases		1		1		—		2		—
Residential mortgage loans		19		19		21		17		19
Home equity		56		52		53		55		59
Total nonaccrual portfolio loans and leases (excludes restructured loans)		234		312		346		403		344
Nonaccrual restructured portfolio commercial loans and leases		214		244		251		192		194
Nonaccrual restructured portfolio consumer loans and leases		58		58		60		65		63
Total nonaccrual portfolio loans and leases		506		614		657		660		601
Repossessed property		10		11		14		15		13
OREO		39		37		50		63		84
Total nonperforming portfolio assets		555		662		721		738		698
Nonaccrual loans held for sale		18		7		7		4		91
Nonaccrual restructured loans held for sale		2		1		2		9		9
Total nonperforming assets	$	575	$	670	$	730	$	751	$	798
Restructured portfolio consumer loans and leases (accrual)	$	929	$	933	$	950	$	959	$	972
Restructured portfolio commercial loans and leases (accrual)	$	232	$	224	$	277	$	321	$	408
90 days past due loans and leases (accrual):
Commercial and industrial loans	$	3	$	3	$	3	$	4	$	7
Commercial mortgage loans		—		—		—		—		—
Commercial construction loans		—		—		—		—		—
Commercial leases		—		—		—		—		—
Total commercial loans and leases		3		3		3		4		7
Residential mortgage loans		43		45		45		49		43
Home equity		—		—		—		—		—
Automobile loans		10		7		6		9		8
Credit card		21		20		21		22		18
Other consumer loans and leases		—		—		—		—		—
Total consumer loans and leases		74		72		72		80		69
Total 90 days past due loans and leases (accrual)(b)	$	77	$	75	$	75	$	84	$	76
Ratios
Net losses charged-off as a percent of average portfolio loans and leases		0.29%		0.28%		0.40%		0.31%		0.45%
Allowance for loan and lease losses:
As a percent of portfolio loans and leases		1.31%		1.34%		1.35%		1.36%		1.37%
As a percent of nonperforming loans and leases(a)		238%		200%		188%		190%		212%
As a percent of nonperforming assets(a)		217%		185%		172%		170%		182%
Nonperforming loans and leases as a percent of portfolio loans and leases and OREO(a)		0.55%		0.67%		0.72%		0.72%		0.64%
Nonperforming assets as a percent of portfolio loans, leases and other assets, including OREO(a)		0.60%		0.72%		0.79%		0.80%		0.75%
Nonperforming assets as a percent of total loans, leases and other assets, including OREO		0.62%		0.73%		0.79%		0.81%		0.85%
Allowance for credit losses as a percent of nonperforming assets		245%		210%		194%		192%		205%

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

(b) Does not include loans held for sale.

30

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,” “efficiency ratio,” “taxable equivalent income before income taxes,” “noninterest income excluding certain items,” “tangible net income available to common shareholders,” “average tangible common equity,” “tangible common equity ratio,” “tangible common equity ratio (excluding unrealized gains/ losses)” “tangible common equity ratio (including unrealized gains/ losses)” “tangible equity,” “tangible book value per 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 32 for Reg. G reconciliations of all historical Non-GAAP measures used in this release to the most directly comparable GAAP measures.

31

Fifth Third Bancorp and Subsidiaries    

Regulation G Non-GAAP Reconciliation    

$ and shares in millions    

(unaudited)

		For the Three Months Ended
		September 2017		June 2017		March 2017		December 2016		September 2016(4)
Net interest income (U.S. GAAP)		$	970	$	939	$	933	$	903	$	907
Add:	Taxable equivalent adjustment		7		6		6		6		6
Taxable equivalent net interest income (a)			977		945		939		909		913
Net interest income (U.S. GAAP) (annualized) (b)			3,848		3,766		3,784		3,592		3,608
Taxable equivalent net interest income (annualized) (c)			3,876		3,790		3,808		3,616		3,632
Taxable equivalent net interest income			977		945		939		909
Add (subtract): Bankcard refunds			—		—		(12)		16
Adjusted taxable equivalent net interest income (d)			977		945		927		925
Adjusted taxable equivalent net interest income (annualized) (e)			3,876		3,790		3,760		3,680
Noninterest income (f)			1,561		564		523		620		840
Noninterest expense (g)			975		957		986		960		973
Average interest-earning assets (h)			126,443		126,134		125,968		126,548		126,092
Net interest margin (U.S. GAAP) (b)/(h)			3.04%		2.99%		3.00%		2.84%		2.86%
Taxable equivalent net interest margin (c)/(h)			3.07%		3.01%		3.02%		2.86%		2.88%
Adjusted net interest margin (e)/(h)			3.07%		3.01%		2.98%		2.91%
Taxable equivalent efficiency ratio (g)/(a)+(f)			38.4%		63.4%		67.4%		62.8%		55.5%
Income before income taxes (U.S. GAAP)		$	1,489	$	494	$	396	$	509	$	694
Add:	Taxable equivalent adjustment		7		6		6		6		6
Taxable equivalent income before income taxes		$	1,496	$	500	$	402	$	515	$	700
Net income available to common shareholders (U.S. GAAP)			999		344		290		372		501
Add:	Intangible amortization, net of tax		—		—		—		—		—
Tangible net income available to common shareholders			999		344		290		372		501
Tangible net income available to common shareholders (annualized) (i)			3,963		1,380		1,176		1,480		1,993
Average Bancorp shareholders’ equity (U.S. GAAP)			16,820		16,615		16,429		16,545		16,883
Less:	Average preferred stock		(1,331)		(1,331)		(1,331)		(1,331)		(1,331)
	Average goodwill		(2,423)		(2,424)		(2,416)		(2,416)		(2,416)
	Average intangible assets and other servicing rights		(18)		(18)		(10)		(10)		(10)
Average tangible common equity (j)			13,048		12,842		12,672		12,788		13,126
Total Bancorp shareholders’ equity (U.S. GAAP)			16,360		16,419		16,430		16,205		16,776
Less:	Preferred stock		(1,331)		(1,331)		(1,331)		(1,331)		(1,331)
	Goodwill		(2,423)		(2,423)		(2,419)		(2,416)		(2,416)
	Intangible assets and other servicing rights		(18)		(18)		(11)		(10)		(10)
Tangible common equity, including unrealized gains / losses (k)			12,588		12,647		12,669		12,448		13,019
Less:	Accumulated other comprehensive income		(185)		(163)		(68)		(59)		(755)
Tangible common equity, excluding unrealized gains / losses (l)			12,403		12,484		12,601		12,389		12,264
Add:	Preferred stock		1,331		1,331		1,331		1,331		1,331
Tangible equity (m)			13,734		13,815		13,932		13,720		13,595
Total assets (U.S. GAAP)			142,264		141,067		140,200		142,177		143,279
Less:	Goodwill		(2,423)		(2,423)		(2,419)		(2,416)		(2,416)
	Intangible assets and other servicing rights		(18)		(18)		(11)		(10)		(10)
Tangible assets, including unrealized gains / losses (n)			139,823		138,626		137,770		139,751		140,853
Less:	Accumulated other comprehensive income / loss, before tax		(285)		(251)		(105)		(91)		(1,162)
Tangible assets, excluding unrealized gains / losses (o)		$	139,538	$	138,375	$	137,665	$	139,660	$	139,691
Common shares outstanding (p)			705		739		750		750		756
Risk-weighted assets (actual) (q) (1)		$	117,527	$	117,761	$	117,407	$	119,632	$	120,954
Ratios:
Return on average tangible common equity (i) / (j)			30.4%		10.7%		9.3%		11.6%		15.2%
Tangible equity (m) / (o)			9.84%		9.98%		10.12%		9.82%		9.73%
Tangible common equity (excluding unrealized gains/losses) (l) / (o)			8.89%		9.02%		9.15%		8.87%		8.78%
Tangible common equity (including unrealized gains/losses) (k) / (n)			9.00%		9.12%		9.20%		8.91%		9.24%
Tangible book value per share (k) / (p)		$	17.86	$	17.11	$	16.89	$	16.60	$	17.22
Basel III Final Rule - Transition to Fully Phased-In
CET1 capital (transitional)		$	12,443	$	12,522	$	12,636	$	12,426	$	12,299
Less: Adjustments to CET1 capital from transitional to fully phased-in (2)			(4)		(4)		(2)		(4)		(4)
CET1 capital (fully phased-in) (r)			12,439		12,518		12,634		12,422		12,295
Risk-weighted assets (transitional)			117,527		117,761		117,407		119,632		120,954
Add: Adjustments to risk-weighted assets from transitional to fully phased-in (3)			1,272		1,274		1,164		1,115		929
Risk-weighted assets (fully phased-in) (s)		$	118,799	$	119,035	$	118,571	$	120,747	$	121,883
Estimated CET1 capital ratio under Basel III Final Rule (fully phased-in) (r)/(s)			10.47%		10.52%		10.66%		10.29%		10.09%

(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 $6 million were reclassified from capital surplus to applicable income tax expense at September 30, 2016, related to the early adoption of ASU 2016-09 during the fourth quarter of 2016, with an effective date of January 1, 2016.

32

Fifth Third Bancorp and Subsidiaries

Segment Presentation

$ in millions

(unaudited)

For the three months ended September 30, 2017	Commercial Banking		Branch Banking(b)		Consumer Lending(c)		Wealth and Asset Management		Other/ Eliminations		Total
Taxable equivalent net interest income(a)	$	429	$	453	$	59	$	38	($	2)	$	977
(Provision for) benefit from loan and lease losses		3		(35)		(8)		1		(28)		(67)
Net interest income after provision for loan and lease losses		432		418		51		39		(30)		910
Total noninterest income		216		191		68		101		985		1,561
Total noninterest expense		(356)		(403)		(116)		(108)		8		(975)
Income before income taxes		292		206		3		32		963		1,496
Applicable income tax expense(a)		(58)		(72)		(1)		(11)		(340)		(482)
Net income		234		134		2		21		623		1,014
Less: Net income attributable to noncontrolling interests		—		—		—		—		—		—
Net income attributable to Bancorp		234		134		2		21		623		1,014
Dividends on preferred stock		—		—		—		—		15		15
Net income available to common shareholders	$	234	$	134	$	2	$	21	$	608	$	999
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) benefit(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) benefit(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) benefit(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		Total
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

(a) Includes taxable equivalent adjustments of $7 million for the three months ended September 30, 2017 and $6 million for the three months ended June 30, 2017, March 31, 2017, December 31, 2016 and September 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.

33

EX-99.2

3Q17 Earnings Presentation October 24, 2017 Refer to earnings release dated October 24, 2017 for further information. Exhibit 99.2

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 negotiation and (if any) implementation by Vantiv, Inc. and/or Worldpay Group plc of the potential acquisition of Worldpay Group plc by Vantiv, Inc. and such other actions as Vantiv, Inc. and Worldpay Group plc may take in furtherance thereof; and (30) 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. 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 net interest margin; taxable equivalent net interest 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. We provide a discussion of non-GAAP measures and reconciliations to the most directly comparable GAAP measures in later slides in this presentation as well as on page 31 of our earnings release.

Net interest income up 7% year-over-year, and up 3% sequentially NIM up 19 bps year-over-year, and up 6 bps sequentially Adjusted PPNR1 up 6% year-over-year, and up 2% sequentially Solid credit performance, with NPAs, NPLs and NCOs at or near multi-year lows Initiated $990 million share repurchase, including after-tax proceeds from Vantiv gain Continued progress toward long term financial targets 3Q17 highlights 1Non-GAAP measure: See Reg G reconciliation on pages 21 and 22 of this presentation and use of non-GAAP measures on page 31 of the earnings release 2See page 4 of the presentation for impact of certain items Diluted Earnings Per Share $1.35 Included $0.87 positive impact from certain items2 Net Income to Common $999 million NIM 3.07% Net Charge-off Ratio 0.29%

Pre-tax items included in 3Q17 results had a positive $0.87 EPS impact: A $1.037 billion pre-tax (~$679 million after- tax) gain from sale of Vantiv stake A $47 million pre-tax (~$31 million after-tax)2 charge related to the valuation of the Visa total return swap $0.02 negative EPS impact reflecting a specific Vantiv related tax item and lower equity method income from the reduced interest in Vantiv Credit trends NCO ratio of 29 bps, down 16 bps year-over-year and up 1 bp sequentially Portfolio NPA ratio of 60 bps, down 15 bps year-over-year and down 12 bps sequentially 3Q17 in review 1Non-GAAP measure: See Reg G reconciliation on pages 21 and 22 of this presentation and use of non-GAAP measures on page 31 of the earnings release 2Assumes a 35% tax rate

Current 4Q17 Outlook: Avg flat YoY Balance sheet Loan & lease balances1 ($ billions) Avg -2% YoY Transaction deposits down 1% vs. 2Q17; flat YoY Sequential performance driven by lower commercial money market Average loan-to-core deposit ratio of 93% Modified LCR of 124% Core deposit balances1 ($ billions) Securities and short-term investments1 ($ billions) Average securities flat vs. 2Q17; up 8% YoY Securities portfolio / total assets of 22.9% flat vs. 2Q17; up 203 bps vs. 3Q16 Avg +7% YoY 1All balances are on an average basis; loan balances exclude HFS Commercial flat vs. 2Q17; down 2% YoY Commercial up 1% vs. 2Q17; up 3% YoY excluding deliberate exits Consumer flat vs. 2Q17; down 1% YoY Consumer up 1% vs. 2Q17; up 3% YoY excluding auto Transaction Other time Loan-to-core deposit ratio Short-term investments Average securities Commercial (EOP): Modest sequential loan growth, reflecting ~$200 million of remaining exits Consumer (EOP): Low-to-mid single digit sequential growth, excluding auto balances

Net interest income 1Non-GAAP measure: See Reg G reconciliation on pages 21 and 22 of this presentation and use of non-GAAP measures on page 31 of the earnings release NII up $64 million NIM up 19 bps NII & NIM performance vs. prior year driven by: Higher short-term market rates 3Q17 vs. 2Q17 3Q17 vs. 3Q16 NII up $32 million NIM up 6 bps NII & NIM performance vs. prior quarter driven by: Higher short-term market rates Temporary cash influx (+1 bp) Higher interest recoveries (+1 bp) Day count (+$7MM, -1 bp) Current 4Q17 Outlook1: $925 $939 NII (FTE) roughly flat sequentially NIM down ~2 bps sequentially (flat excluding the temporary benefit in 3Q17)

Adjusted noninterest income: up ~10% sequentially, excluding mortgage Includes estimated impact of ~$40 million to be recognized in connection with annual Vantiv TRA payment Adjusted1 noninterest income down $25 million, or 4%, driven primarily by: Lower corporate banking revenue Noninterest income 1Non-GAAP measure: See Reg G reconciliation on pages 21 and 22 of this presentation and use of non-GAAP measures on page 31 of the earnings release 2 Q3 2017 excludes all items shown on page 22 of this presentation, resulting in a base of $508 million Sequentially, adjusted noninterest income1 up $12 million, or 2 percent, primarily due to: Annual Vantiv TRA payment The change in net mortgage servicing rights (MSR) valuation adjustments Year-over-year adjusted noninterest income1 down $15 million, or 2 percent, primarily due to: Decrease in mortgage banking net revenue Adjusted1 noninterest income down $2 million, driven by: Lower equity method income from the reduced interest in Vantiv Higher mortgage banking revenue 3Q17 vs. 2Q17 3Q17 vs. 3Q16 Current 4Q17 Outlook1,2: 1 1

Noninterest expense: up ~1.5% sequentially Noninterest expense 1 Non-GAAP measure: See Reg G reconciliation on pages 21 and 22 of this presentation and use of non-GAAP measures on page 31 of the earnings release Noninterest expense up 2%, driven by: Higher employee compensation expense Higher technology and communications expense Higher marketing expense 3Q17 vs. 2Q17 3Q17 vs. 3Q16 Noninterest expense flat, driven by: Diligent expense management throughout the bank Higher employee compensation expense offset by lower other noninterest expense Current 4Q17 Outlook: 1 1

Net charge-offs of 0.29%, down 16 bps from 3Q16; up 1 bp from 2Q17 Portfolio NPA ratio of 0.60%, down 15 bps from 3Q16; down 12 bps from 2Q17 Criticized assets at 5.50% of commercial loans, down 66 bps from 3Q16; flat from 2Q17 Allowance for loan & lease losses of 1.31%, down 3 bps sequentially driven primarily by VIE deconsolidation Credit quality overview Current Outlook: Provision reflective of loan growth

Strong capital and liquidity position 1Current period regulatory capital & liquidity ratios are estimated CET1 remains strong at 10.59%, up 42 bps from 3Q16 and down 4 bps from 2Q17 Initiated $990 million share repurchase, including after-tax proceeds from Vantiv gain Common shares outstanding reduced by 33 million (5%) from 2Q17 and 50 million (7%) from 3Q16 Increased dividend 14% to $0.16 per share Strong liquidity position with a modified LCR of 124%

Executed a sale of Vantiv shares in August 2017 resulting in $1.037 billion pre-tax gain ($679MM after-tax) Sale triggered ~$650MM1 in additional future gross Tax Receivable Agreement (“TRA”) cash flows to be recognized over next 15+ years Current Vantiv ownership of 8.6% (15.25MM shares) Current market value of $1.05BN3 Expect to record a ~$350MM2 pre-tax step-up gain upon close of WorldPay acquisition Additional potential gross TRA cash flows of ~$565MM4 after sale of remaining interest Equity method earnings decline approximately in proportion to the decline in ownership percentage Vantiv update 1Based on the analysis performed by Vantiv, Inc. disclosed in its Form 8-K filed with the SEC on 8/8/2017. Assumes a 35% federal tax rate, and that Vantiv will have sufficient U.S. taxable income to utilize TRA related deductions. 2Based on a $68.96 VNTV closing price as of 10/18/2017 and based on the expectation that Vantiv/WorldPay deal closes; step-up gain is based on Fifth Third’s estimate of the equity method impact from the pro forma ownership percentage dilution and excludes any impact from future earnings or dividends prior to the Vantiv/WorldPay deal closing. 315.25MM shares * $68.96 VNTV closing price as of 10/18/2017. 4Based on a $68.96 VNTV closing price as of 10/18/2017 and a 35% federal tax rate. Assumes Vantiv will have sufficient U.S. taxable income to utilize TRA related deductions, and assumes the remaining units in Vantiv are exchanged in October 2017 at $68.96 per unit. FITB ownership percentage in Vantiv Cumulative Vantiv gains recognized (includes equity sales, warrant termination, & TRA settlements) 49% 8.6% ($s in millions) 4.9% Over $5 billion in cumulative pre-tax gains recognized since joint venture

Current 4Q17 outlook 1Non-GAAP measure: See Reg G reconciliation on pages 21 and 22 of this presentation and use of non-GAAP measures on page 31 of the earnings release 2 Q3 2017 excludes all items shown on page 22 of this presentation, resulting in a base of $508 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 October 24, 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 income1,2 Noninterest expense Effective tax rate Credit items Commercial: Modest sequential loan growth, reflecting ~$200MM of remaining exits Consumer: Low-to-mid single digit sequential growth, excluding auto balances Roughly flat sequentially Down ~2 bps sequentially (flat excluding the temporary benefits in 3Q17) Adjusted noninterest income up ~10% sequentially, excluding mortgage mortgage revenue excluded given volatility from significant increase in interest rates at the end of 2016 Up ~1.5% sequentially 29 – 30% range (25 – 26% range excluding impact from Vantiv sale) Provision reflective of loan growth

Appendix

PPNR and efficiency ratio trends1 1Non-GAAP measures: See Reg G reconciliation on pages 21 and 22 of this presentation and use of non-GAAP measures on page 31 of the earnings release 2Prior quarters include similar adjustments Adjusted PPNR up 6% YoY driven by: NII growth primarily from higher short term rates Diligent expense management Partially offset by lower corporate banking revenue Adjusted PPNR up 2% vs. 2Q17 driven by: NII growth primarily from higher short term rates Higher mortgage banking net revenue $552 $569

Strong liquidity profile 1 Available and contingent borrowing capacity (3Q17): FHLB ~$7.1B available, ~$13.1B total Federal Reserve ~$31.6B 1$500MM matured in 1Q17 2$650MM matured in 2Q17 Holding Company: Modified LCR of 124% Holding Company cash at September 30, 2017: $2.4B Cash currently sufficient to satisfy all fixed obligations in a stressed environment for ~21 months (debt maturities, common and preferred dividends, interest and other expenses) without accessing capital markets, relying on dividends from subsidiaries or any other actions Bank Entity: There were no debt maturities at the Bank in 3Q17 The Bank did not issue any additional debt in 3Q17 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% 1

Balance sheet positioning Commercial Loans1,2 Investment Portfolio Total Interest Earning Assets ~$128B; $69B Fix / $59B Float Consumer Loans1 Data as of 09/30/17 1Includes HFS Loans & Leases 2Fifth Third had $4.48B 1ML receive-fix swaps outstanding against C&I loans, which are being included in fixed 3Fifth 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: $13.8B1, 2 Float: $42.8B1, 2 1ML based: 64% (of total commercial) 3ML based: 7% (of total commercial) Prime based: 4% (of total commercial) Weighted avg. life: 1.44 years 51% allocation to bullet/locked-out cash flow securities Investment portfolio yield: 3.06% Duration: 4.6 years Net unrealized pre-tax gain: $366MM 97% AFS Fixed: $25.5B1 Float: $10.5B1 1ML based: 2% (of total consumer) 12ML based: 2% (of total consumer) Prime based: 23% (of total consumer) Weighted avg. life: 3.32 years Auto weighted avg. life: 1.44 years Long-term Debt3 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 20% Fix / 80% Float 2% Fix / 98% Float Commercial Construction 100% Fix / 0% Float Commercial Lease Resi Mtg & Construction 91% Fix / 9% Float Auto 99% Fix / 1% Float 8% Fix / 92% Float Home Equity 26% Fix / 74% Float Credit Card 36% Fix / 64% Float Other Fixed: $10.5B3 Float: $3.6B3 1ML based: 1% (of total long term debt) 3ML based: 25% (of total long term debt) Weighted avg. life: 4.12 years Senior Debt 76% Fix / 24% Float Sub Debt 64% Fix / 36% Float 94% Fix / 6% Float Auto Securiz. Proceeds 0% Fix / 100% Float TRUPS 100% Fix / 0% Float Other

Interest rate risk management Data as of 09/30/17 1Actual 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. 2Re-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 58% of total loans are floating rate considering impacts of interest rate swaps (76% of total commercial and 29% of total consumer) Investment portfolio duration of 4.6 years Short-term borrowings represent approximately 26% of total wholesale funding, or 5% 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

Mortgage banking results $2.1B in originations, down 6% sequentially and down 26% YoY; 66% purchase volume 3Q17 mortgage banking drivers: Origination fees and gain on sale revenue up 8% sequentially Gain on sale margin up 19 bps sequentially $56MM in gross servicing fees up 14% sequentially YoY decline in mortgage banking revenue driven primarily by lower origination fees and gains on loan sales Successfully on-boarded $10 billion of acquired MSRs YTD 1Effective January 1, 2017 the Bancorp elected to measure its MSR portfolio at fair value rather than at amortized cost 2Gain-on-sale margin represents gains on all loans originated for sale

NPL rollforward

Residential Mortgage Commercial & Industrial Home Equity & Automobile Commercial Real Estate *Excludes loans held-for-sale Credit trends ($ in millions) 3Q16 4Q16 1Q17 2Q17 3Q17 EOP Balance* $3,905 $3,903 $4,283 $4,366 $4,652 Avg Balance* $3,848 $3,890 $3,987 $4,306 $4,533 NPAs* $5 $0 - - - as % of loans 0.13% NM NM NM NM Net charge-offs - - - - - as % of loans 0.00% 0.00% 0.00% 0.00% 0.00% Commercial construction ($ in millions) 3Q16 4Q16 1Q17 2Q17 3Q17 EOP Balance* $14,643 $15,051 $15,336 $15,460 $15,588 Avg Balance* $14,455 $14,854 $15,200 $15,417 $15,523 90+ days delinquent $43 $49 $45 $45 $43 as % of loans 0.29% 0.33% 0.29% 0.29% 0.28% NPAs* $58 $53 $48 $42 $45 as % of loans 0.40% 0.35% 0.31% 0.27% 0.29% Net charge-offs $2 $2 $5 $2 $(1) as % of loans 0.07% 0.06% 0.13% 0.04% (0.02%) Residential mortgage

Regulation G non-GAAP reconciliation See page 31 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) September June March December September 2017 2017 2017 2016 2016 Net income available to common shareholders (U.S. GAAP) $999 $344 $290 $372 $501 Add: Intangible amortization, net of tax - - - - - Tangible net income available to common shareholders $999 $344 $290 $372 $501 Tangible net income available to common shareholders (annualized) (a) $3,963 $1,380 $1,176 $1,480 $1,993 Average Bancorp shareholders' equity (U.S. GAAP) $16,820 $16,615 $16,429 $16,545 $16,883 Less: Average preferred stock (1,331) (1,331) (1,331) (1,331) (1,331) Average goodwill (2,423) (2,424) (2,416) (2,416) (2,416) Average intangible assets and other servicing rights (18) (18) (10) (10) (10) Average tangible common equity (b) $13,048 $12,842 $12,672 $12,788 $13,126 Total Bancorp shareholders' equity (U.S. GAAP) $16,360 $16,419 $16,430 $16,205 $16,776 Less: Preferred stock (1,331) (1,331) (1,331) (1,331) (1,331) Goodwill (2,423) (2,423) (2,419) (2,416) (2,416) Intangible assets and other servicing rights (18) (18) (11) (10) (10) Tangible common equity, including unrealized gains / losses (c) $12,588 $12,647 $12,669 $12,448 $13,019 Less: Accumulated other comprehensive income (185) (163) (68) (59) (755) Tangible common equity, excluding unrealized gains / losses (d) $12,403 $12,484 $12,601 $12,389 $12,264 Total assets (U.S. GAAP) $142,264 $141,067 $140,200 $142,177 $143,279 Less: Goodwill (2,423) (2,423) (2,419) (2,416) (2,416) Intangible assets and other servicing rights (18) (18) (11) (10) (10) Tangible assets, including unrealized gains / losses (e) $139,823 $138,626 $137,770 $139,751 $140,853 Less: Accumulated other comprehensive income / loss, before tax (285) (251) (105) (91) (1,162) Tangible assets, excluding unrealized gains / losses (f) $139,538 $138,375 $137,665 $139,660 $139,691 Common shares outstanding (g) 705 739 750 750 756 Ratios: Return on average tangible common equity (a) / (b) 30.4% 10.7% 9.3% 11.6% 15.2% Tangible common equity (excluding unrealized gains/losses) (d) / (f) 8.89% 9.02% 9.15% 8.87% 8.78% Tangible common equity (including unrealized gains/losses) (c) / (e) 9.00% 9.12% 9.20% 8.91% 9.24% Tangible book value per share (c) / (g) $17.86 $17.11 $16.89 $16.60 $17.22 For the Three Months Ended

Regulation G non-GAAP reconciliation See page 31 of the earnings release for a discussion on the use of non-GAAP financial measures