8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): October 18, 2019

CITIZENS FINANCIAL GROUP, INC.

(Exact name of registrant as specified in its charter)

Delaware	001-36636	05-0412693
(State or other jurisdiction of incorporation )	(Commission File No.)	(IRS Employer Identification No.)
One Citizens Plaza Providence, RI		02903
(Address of principal executive offices)		(Zip code)

Registrant’s telephone number, including area code: (401) 456-7000

Not Applicable

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

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

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

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

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

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

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

Title of each class	Trading symbol(s)	Name of each exchange on which registered
Common stock, $0.01 par value per share	CFG	New York Stock Exchange
Depositary Shares, each representing a 1/40th interest in a share of 6.350% Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series D	CFG PrD	New York Stock Exchange

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

Emerging growth company  ☐

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

Item 2.02 Results of Operations and Financial Condition.

On October 18, 2019, Citizens Financial Group, Inc. (the “Company”) issued a press release announcing its third quarter 2019 earnings and posted on its website the press release and a financial supplement. Copies of the press release and financial supplement are being furnished as Exhibits 99.1 and 99.3, respectively.

Item 7.01 Regulation FD Disclosure.

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

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

Item 9.01 Financial Statements and Exhibits.

	Exhibit  Number	Description
(d)	Exhibit 99.1	Citizens Financial Group, Inc. press release dated October 18, 2019
	Exhibit 99.2	Citizens Financial Group, Inc. earnings release presentation issued October 18, 2019
	Exhibit 99.3	Citizens Financial Group, Inc. financial supplement for third quarter 2019
	Exhibit 104	Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

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

CITIZENS FINANCIAL GROUP, Inc.
By:	/s/ John F. Woods
	John F. Woods
	Vice Chairman and Chief Financial Officer

Date: October 18, 2019

EX-99.1

Exhibit 99.1

Citizens Financial Group, Inc. Reports Third Quarter Net Income of

$449 million and EPS of $0.97

Underlying net income of $453 million up 1% with EPS of $0.98 up 5% year over year*

Record noninterest income up 19% year over year paced by strong results in

mortgage banking

Tangible book value per share of $31.48 up 14% year over year

PROVIDENCE, RI (October 18, 2019) Citizens Financial Group, Inc. (NYSE: CFG or “Citizens”) today reported third quarter net income of $449 million, up 1% from $443 million in third quarter 2018, with earnings per share of $0.97, up 7% from $0.91 per share in third quarter 2018. Third quarter 2019 results reflect a net $4 million, or $(0.01) per share, after-tax reduction from notable items compared with a net $7 million, or $(0.02) per share, after-tax reduction in third quarter 2018 and a net $5 million, or $(0.01) per share, after-tax reduction in second quarter 2019.

On an Underlying basis, which excludes notable items,* third quarter 2019 net income available to common stockholders of $436 million decreased 2% from third quarter 2018 and 1% from second quarter 2019. Earnings per common share of $0.98 per share increased 5% from third quarter 2018 and 2% from second quarter 2019. Underlying third quarter 2019 ROTCE* of 12.6% compares with 13.5% in third quarter 2018 and 12.9% in second quarter 2019. Tangible book value per common share of $31.48 increased 14% from third quarter 2018 and 2% from second quarter 2019.

“We are pleased to report a strong quarterly result in spite of a challenging rate environment,” said Chairman and Chief Executive Officer Bruce Van Saun. “Our mortgage business provided a good offset to the pressure on net interest margin, and we feel we did a good job on managing down deposit costs. In addition, we are making solid progress on our TOP 6 program and related strategic initiatives, which bodes well for 2020 and beyond.”

Citizens also announced today that its board of directors declared a fourth quarter 2019 cash dividend of $0.36 per common share. The dividend is payable on November 13, 2019 to stockholders of record at the close of business on October 30, 2019. The quarterly common dividend is up 33% year over year.

* Please see important information on Key Performance Metrics and Non-GAAP Financial Measures, as applicable, at the end of this release for an explanation of our use of these metrics and non-GAAP financial measures and their reconciliation to GAAP financial measures. Where there is a reference to “Underlying” results in a paragraph, all measures that follow these references are on the same basis, when applicable. References to “Underlying results before the impact of Acquisitions” exclude the impact of the acquisitions that occurred after second quarter 2018 and notable items, as applicable. Additional information regarding the impact of Acquisitions and notable items may be found in the Notable Items portion of this release. Throughout this release, references to balance sheet items are on an average basis and loans exclude held for sale unless otherwise noted. References to net interest margin are on a fully taxable equivalent (“FTE”) basis and all references to earnings per share represent fully diluted per common share. References to consolidated and/or commercial loans and loan growth include leases. Loans held for sale are also referred to as LHFS. The “Company” refers to Citizens. Current reporting-period regulatory capital ratios are preliminary. Select totals may not sum due to rounding.

Citizens Financial Group, Inc.

Third quarter 2019 vs. third quarter 2018

Key highlights

• Third quarter results reflect revenue growth of 5%, with record noninterest income, up 19%, paced by strong results in mortgage banking fees, card fees and foreign exchange and interest rate products.

• Third quarter 2019 results reflect a net $4 million after-tax reduction, or $(0.01) per share, from notable items compared with a net $5 million after-tax reduction, or ($0.01) per share, in second quarter 2019. Third quarter results also include the impact of an aircraft lease restructuring, which reflects our continuing efforts to accelerate the run down of the non-core lease portfolio. This transaction decreased pre-provision net revenue $3 million, as it increased other noninterest income $7 million, noninterest expense $10 million and net charge-offs and provision expense $5 million. Underlying results, before the impact of this lease restructuring, reflect relatively stable revenue growth, stable noninterest expense and provision expense of $96 million.*

• Delivered an efficiency ratio of 59.4% and ROTCE of 12.4%; Underlying efficiency ratio of 58.2%, including an approximate 40 basis point impact from the lease restructuring, and ROTCE of 12.6%.*

• Period-end loan-to-deposit ratio of 94.5% improved from 98.0%.

• Tangible book value per common share of $31.48 increased 14%. Fully diluted average common shares outstanding decreased 30.5 million shares, or 6%.

Results

• Total revenue increased $74 million, or 5%, reflecting strength in noninterest income and relatively stable net interest income.

• Net interest income was relatively stable despite the challenging yield-curve environment, given 3% growth in interest-earning assets.

• Net interest margin of 3.12% decreased 10 basis points, as an increase in funding costs tied to modestly higher short-term rates and growth, as well as higher securities premium amortization tied to significantly lower long-term rates was only partially offset by the benefit of higher interest-earning asset yields, given continued mix shift towards better-returning assets and modestly higher short-term rates.

• Record noninterest income of $493 million increased $77 million, or 19%, driven by strong results in mortgage banking and card fees and growth in trust and investment services fees and foreign exchange and interest rate products. Noninterest income up 4% before the impact of Acquisitions and the lease restructuring.*

• Noninterest expense increased 7%. On an Underlying basis, before the impact of Acquisitions and the lease restructuring,* noninterest expense of $905 million increased 3%, reflecting higher salaries and employee benefits, equipment and software expense and outside services, given the impact of merit increases, higher revenue-driven incentives and investments in strategic growth initiatives.

• Provision expense of $101 million increased from $78 million in third quarter 2018, largely reflecting a small number of uncorrelated losses in commercial and continued seasoning in retail growth portfolios. Key credit metrics continue to reflect overall strong credit quality.

2

Citizens Financial Group, Inc.

• ROTCE of 12.4% compares with 13.3% for third quarter 2018. Underlying ROTCE* of 12.6% compares with 13.5% for third quarter 2018 and reflects an approximate 75 basis point drag from higher tangible equity value, given the positive impact of lower long-term rates on securities valuations.

Balance Sheet

• Average interest-earning assets increased $4.3 billion, or 3%, driven by 3% loan growth in both commercial and retail.

• Average deposits increased $6.9 billion, or 6%, reflecting growth in savings, term deposits, checking with interest and money market accounts, partially offset by a decline in demand deposits. The average loan-to-deposit ratio improved to 94.6% from 97.4%; period-end loan-to-deposit ratio improved to 94.5% from 98.0% in third quarter 2018.

• Nonperforming loans and leases (“NPLs”) to loans and leases ratio of 0.67% improved from 0.73%, reflecting a decrease in retail, partially offset by an increase in commercial.

• Allowance coverage of NPLs of 159% improved from 149%.

• Net charge-offs of 38 basis points of loans increased 8 basis points, reflecting an increase in commercial tied to a small number of uncorrelated losses and expected seasoning in retail growth portfolios.

• Capital remains strong, with a common equity tier 1 (“CET1”) risk-based capital ratio of 10.3%.*

• Repurchased 14.1 million shares of common stock at a weighted average price of $35.43 in the quarter. Including common dividends, returned $662 million in capital to shareholders.

Year-over-year update on plan execution

Consumer Banking

• Continued balance sheet momentum, with 3% loan growth, including continued growth in more attractive risk-adjusted return categories; 10% deposit growth, including 6% growth in demand deposits.

• Strong momentum in fee income categories. Generated record mortgage banking fees, up 139%, record card fees, up 11%, and strength in trust and investment services fees, up 12%.

• Citizens Access^®, our nationwide digital platform, attracted $5.6 billion of spot deposits through third quarter 2019.

Commercial Banking

• Strong balance sheet performance with commercial loan growth of 4%, driven by geographic, product and client-focused expansion strategies.

• Continue to benefit from investments in broadening and enhancing our capabilities, such as the continued migration to our upgraded cash management platform during the quarter and the addition of foreign exchange coverage professionals to compliment geographic expansion.

Efficiency and balance sheet optimization initiatives

• Continued good execution on our TOP 5 program, which is expected to deliver pre-tax annualized run-rate benefit of approximately $105-$115 million by end of 2019, up $10 million from prior estimate.

3

Citizens Financial Group, Inc.

• Work is underway to deliver new transformational TOP 6 program, with a target of approximately $300-$325 million in pre-tax run-rate benefit by year-end 2021.

• Continued progress on Balance Sheet Optimization (“BSO”) initiatives to grow more attractive risk-adjusted return portfolios and optimize deposit mix.

Third quarter 2019 vs. second quarter 2019

Key highlights

• Third quarter highlights include modestly higher revenue despite the impact of a challenging yield-curve environment.

• ROTCE was 12.4%; Underlying ROTCE* of 12.6% compares with 12.9% in second quarter 2019. Underlying results* reflect an approximate 25 basis point drag from higher equity value, given the impact of lower long-term rates on securities valuations.

• Tangible book value per common share of $31.48 increased 2%. Fully diluted average common shares outstanding decreased 12.2 million, or 3%.

• Results reflect an efficiency ratio of 59.4%; Underlying efficiency ratio of 58.2%* compares with 58.0% in second quarter 2019, reflecting modestly higher revenue and well-controlled expenses, and includes an approximate 40 basis point increase related to the lease restructuring transaction.

Results

• Total revenue of $1.6 billion was up modestly, as strength in noninterest income was partially offset by lower net interest income.

• Net interest income of $1.1 billion decreased $21 million, as lower interest-earning asset yields, reflecting the impact of the challenging yield-curve environment and higher securities premium amortization, were only partially offset by the benefit of day count and a reduction in funding costs.

• Net interest margin of 3.12% decreased 9 basis points as a reduction in interest-earning asset yields including the impact from higher securities premium amortization, was only partially offset by the benefit of lower funding costs, given lower short-term rates. Interest-bearing deposit costs decreased 6 basis points, reflecting strong pricing discipline.

• Record noninterest income of $493 million increased $31 million, or 7%, with strong results in mortgage banking and card fees.

• Noninterest expense of $973 million increased $22 million, or 2%, including the impact of notable items. On an Underlying basis,* noninterest expense of $954 million increased $10 million, or 1%, largely reflecting a $10 million impact from the lease restructuring transaction.

• Provision expense of $101 million increased modestly from $97 million in the prior quarter, largely reflecting the impact of the lease restructuring transaction.

Balance sheet

• Average interest-earning assets increased $152 million, reflecting an increase in loans held for sale tied to higher mortgage origination volumes, as well as growth in the investment portfolio. Loans decreased modestly from second quarter 2019 and were relatively stable excluding the impact of second quarter 2019 loan sales tied to balance sheet optimization initiatives.

• Average deposits increased $769 million, reflecting growth in money market accounts, demand deposits and savings, partially offset by a reduction in term deposits and checking with interest.

4

Citizens Financial Group, Inc.

• Average loan-to-deposit ratio improved to 94.6% from 95.6% in second quarter 2019; period-end loan-to-deposit ratio of 94.5% compares to 94.2% in second quarter 2019.

• NPLs to loans and leases ratio of 0.67% and allowance coverage of NPLs of 159% remained relatively stable.

• Net charge-offs of 38 basis points remained relatively stable as the impact of seasonally higher losses in auto and expected seasoning in other retail was partially offset by a reduction in commercial.

Earnings highlights:

	Quarterly Trends
										3Q19 change from
($s in millions, except per share data)	3Q19			2Q19			3Q18			2Q19						3Q18
Earnings										$/bps			%			$/bps			%
Net interest income	$	1,145		$	1,166		$	1,148		$	(21	)		(2	)%	$	(3	)		—	%
Noninterest income		493			462			416			31			7			77			19
Total revenue		1,638			1,628			1,564			10			1			74			5
Noninterest expense		973			951			910			22			2			63			7
Pre-provision profit		665			677			654			(12	)		(2	)		11			2
Provision for credit losses		101			97			78			4			4			23			29
Net income		449			453			443			(4	)		(1	)		6			1
Preferred dividends		17			18			7			(1	)		(6	)		10			143
Net income available to common stockholders	$	432		$	435		$	436		$	(3	)		(1	)%	$	(4	)		(1	)%
After-tax notable Items		4			5			7			(1	)		(20	)		(3	)		(43	)
Underlying net income*	$	453		$	458		$	450		$	(5	)		(1	)%	$	3			1	%
Underlying net income available to common stockholders*	$	436		$	440		$	443		$	(4	)		(1	)%	$	(7	)		(2	)%
Average common shares outstanding
Basic (in millions)		445.7			458.2			476.0			(12.5	)		(3	)		(30.3	)		(6	)
Diluted (in millions)		447.1			459.3			477.6			(12.2	)		(3	)		(30.5	)		(6	)
Diluted earnings per share	$	0.97		$	0.95		$	0.91		$	0.02			2		$	0.06			7
Underlying diluted earnings per share*	$	0.98		$	0.96		$	0.93		$	0.02			2	%	$	0.05			5	%
Key performance metrics*
Net interest margin		3.10	%		3.20	%		3.20	%		(10	) bps					(10	) bps
Net interest margin, FTE		3.12			3.21			3.22			(9	)					(10	)
Effective income tax rate		20.5			21.9			23.2			(140	)					(270	)
Efficiency ratio		59			58			58			99						120
Underlying efficiency ratio*		58			58			58			20						60
Return on average common equity		8.4			8.5			8.8			(19	)					(47	)
Return on average tangible common equity		12.4			12.8			13.3			(31	)					(85	)
Underlying return on average tangible common equity*		12.6			12.9			13.5			(31	)					(92	)
Return on average total assets		1.10			1.13			1.13			(3	)					(3	)
Underlying return on average total tangible assets*		1.16	%		1.19	%		1.20	%		(3	) bps					(4	) bps
Capital adequacy(1,2)
Common equity tier 1 capital ratio		10.3	%		10.5	%		10.8	%
Total capital ratio		13.0			13.4			13.4
Tier 1 leverage ratio		9.9	%		10.1	%		9.9	%
Asset quality(2)
Nonperforming loans and leases as a % of loans and leases		0.67	%		0.66	%		0.73	%		1	bps					(6	) bps
Allowance for loan and lease losses as a % of loans and leases		1.07			1.05			1.08			2						(1	)
Allowance for loan and lease losses as a % of nonperforming loans and leases		159			159			149			(11	)					NM
Net charge-offs as a % of average loans and leases		0.38	%		0.36	%		0.30	%		2	bps					8	bps

¹⁾ Current reporting-period regulatory capital ratios are preliminary.

²⁾  Capital adequacy and asset-quality ratios calculated on a period-end basis, except net charge-offs.

Notable items:

2019 quarterly results reflect notable items related to integration costs primarily tied to the August 1, 2018 Franklin American Mortgage Company (“FAMC”) acquisition, as well as third quarter 2019 costs related to strategic initiatives. These notable items have been excluded from reported results to better reflect Underlying operating results.*

Total estimated after-tax FAMC integration costs are expected to be in the $35-$45 million range, with the integration substantially complete by second quarter 2020. Cumulative after-tax integration costs related to FAMC totaled $29 million through the end of third quarter 2019.

5

Citizens Financial Group, Inc.

Notable items - integration costs*	3Q19									2Q19									3Q18									Cumulative after-tax integration costs
($s in millions, except per share data)	Pre-tax			After-tax			EPS			Pre-tax			After-tax			EPS			Pre-tax			After-tax			EPS			FAMC			Other			Total
Noninterest income	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	(3	)	$	—		$	(3	)
Salaries & benefits	$	(1	)	$	(1	)	$	—		$	(2	)	$	(1	)	$	—		$	(5	)	$	(4	)	$	(0.01	)	$	(10	)	$	—		$	(10	)
Occupancy		—			—			—			—			—			—			—			—			—			(1	)		—			(1	)
Outside services		(3	)		(2	)		(0.01	)		(5	)		(4	)		(0.01	)		(1	)		(1	)		—			(12	)		(2	)		(14	)
Other expense		—			—			—			—			—			—			(3	)		(2	)		(0.01	)		(3	)		—			(3	)
Noninterest expense	$	(4	)	$	(3	)	$	(0.01	)	$	(7	)	$	(5	)	$	(0.01	)	$	(9	)	$	(7	)	$	(0.02	)	$	(26	)		(2	)	$	(28	)
Total Integration costs	$	(4	)	$	(3	)	$	(0.01	)	$	(7	)	$	(5	)	$	(0.01	)	$	(9	)	$	(7	)	$	(0.02	)	$	(29	)	$	(2	)	$	(31	)
Other notable items - primarily tax and TOP*	3Q19									2Q19									3Q18
($s in millions, except per share data)	Pre-tax			After-tax			EPS			Pre-tax			After-tax			EPS			Pre-tax			After-tax			EPS
Tax notable item	$	—		$	10		$	0.02
Other notable items - TOP & other actions
Salaries & benefits		(4	)		(3	)		(0.01	)
Outside services		(11	)		(8	)		(0.02	)
Noninterest expense	$	(15	)	$	(11	)	$	(0.03	)
Total other notable items	$	(15	)	$	(1	)	$	—
Total notable items(1)	$	(19	)	$	(4	)	$	(0.01	)	$	(7	)	$	(5	)	$	(0.01	)	$	(9	)	$	(7	)	$	(0.02	)

The following table provides information on Underlying results before the impact of notable items and Acquisitions.*

Underlying results/impact of Acquisitions:*

	Quarterly Trends
										3Q19 change from
($s in millions, except per share data)	3Q19			2Q19			3Q18			2Q19			3Q18
Net interest income	$	1,145		$	1,166		$	1,148			(2	)%		—	%
Noninterest income		493			462			416			7			19
Total revenue	$	1,638		$	1,628		$	1,564			1	%		5	%
Noninterest expense		973			951			910			2			7
Notable items		19			7			9			171			111
Underlying noninterest expense*	$	954		$	944		$	901			1	%		6	%
Underlying pre-provision profit*		684			684			663			—			3
Provision for credit losses		101			97			78			4			29
Net income available to common stockholders		432			435			436			(1	)		(1	)
Underlying net income available to common stockholders*		436			440			443			(1	)		(2	)
Key performance metrics*
Diluted EPS	$	0.97		$	0.95		$	0.91			2	%		7	%
Underlying EPS*	$	0.98		$	0.96		$	0.93			2			5
Efficiency ratio		59	%		58	%		58	%		99	bps		120	bps
Underlying efficiency ratio*		58			58			58			20			60
Operating leverage											(1.7	)%		(2.2	)%
Underlying operating leverage*											(0.3	)		(1.1	)
Underlying operating leverage before Acquisitions*														(3.5	)%

6

Citizens Financial Group, Inc.

Discussion of results:

Net interest income										3Q19 change from
($s in millions)	3Q19			2Q19			3Q18			2Q19						3Q18
										$/bps			%			$/bps			%
Interest income:
Interest and fees on loans and leases and loans held for sale	$	1,377		$	1,409		$	1,303		$	(32	)		(2	)%	$	74			6	%
Investment securities		153			164			167			(11	)		(7	)		(14	)		(8	)
Interest-bearing deposits in banks		8			7			7			1			14			1			14
Total interest income	$	1,538		$	1,580		$	1,477		$	(42	)		(3	)%	$	61			4	%
Interest expense:
Deposits	$	297		$	308		$	214		$	(11	)		(4	)%	$	83			39	%
Federal funds purchased and securities sold under agreements to repurchase		2			3			2			(1	)		(33	)		—			—
Other short-term borrowed funds(1)		—			1			4			(1	)		(100	)		(4	)		(100	)
Long-term borrowed funds(1)		94			102			109			(8	)		(8	)		(15	)		(14	)
Total interest expense	$	393		$	414		$	329		$	(21	)		(5	)%	$	64			19	%
Net interest income	$	1,145		$	1,166		$	1,148		$	(21	)		(2	)%	$	(3	)		—	%
Net interest margin, FTE		3.12	%		3.21	%		3.22	%		(9	) bps					(10	) bps

1) Beginning in 1Q19, borrowed funds interest expense is based on original maturity and prior periods have been revised consistent with the current presentation.

Net interest income remained relatively stable with third quarter 2018 levels despite the challenging yield-curve environment, given 3% growth in interest-earning assets. Net interest margin of 3.12% decreased 10 basis points, as an increase in funding costs tied to modestly higher short-term rates and growth, as well as higher securities premium amortization tied to significantly lower long-term rates was only partially offset by the benefit of higher interest-earning asset yields, given continued mix shift towards better-returning assets and modestly higher short-term rates.

Compared with second quarter 2019, net interest income of $1.1 billion decreased $21 million, or 2%, as lower interest-earning asset yields, reflecting the impact of the challenging yield-curve environment, and higher securities premium amortization were only partially offset by the benefit of day count and a reduction in funding costs. Net interest margin of 3.12% decreased 9 basis points as a reduction in interest-earning asset yields, including the impact from higher securities premium amortization, was only partially offset by the benefit of lower funding costs, given lower short-term rates. Interest-bearing deposit costs decreased 6 basis points, reflecting strong pricing discipline.

7

Citizens Financial Group, Inc.

Noninterest Income							3Q19 change from
($s in millions)	3Q19		2Q19		3Q18		2Q19						3Q18
							$			%			$			%
Service charges and fees	$	128	$	126	$	131	$	2			2	%	$	(3	)		(2	)%
Card fees		67		64		61		3			5			6			10
Capital markets fees		39		57		47		(18	)		(32	)		(8	)		(17	)
Trust and investment services fees		50		53		45		(3	)		(6	)		5			11
Mortgage banking fees		117		62		49		55			89			68			139
Letter of credit and loan fees		34		33		32		1			3			2			6
Foreign exchange and interest rate products		35		35		31		—			—			4			13
Securities gains, net		3		4		3		(1	)		(25	)		—			—
Other income(1)		20		28		17		(8	)		(29	)		3			18
Noninterest income	$	493	$	462	$	416	$	31			7	%	$	77			19	%

1) Other income includes bank-owned life insurance and other income.

Record noninterest income of $493 million increased $77 million, or 19%, from third quarter 2018, reflecting strong mortgage banking fees driven by higher origination volumes and improved gain-on-sale margins, as well as strong card fees and growth in trust and investment services fees and foreign exchange and interest rate products. Before the impact of Acquisitions,* noninterest income of $415 million increased $23 million, or 6%, reflecting higher mortgage banking fees and card fees.

Compared with second quarter 2019, noninterest income increased $31 million, or 7%, driven by strong results in mortgage banking and card fees, as well as higher service charges and fees. These results were partially offset by a reduction in capital markets fees and trust and investment services fees from record second quarter levels, reflecting the impact of volatile market conditions and seasonality. Foreign exchange and interest rate products revenue remained near record levels. Other income reflects a $7 million benefit related to the lease restructuring, though was still lower than second quarter 2019 levels that included strong leasing income.

Noninterest Expense							3Q19 change from
($s in millions)	3Q19		2Q19		3Q18		2Q19						3Q18
							$			%			$			%
Salaries and employee benefits	$	508	$	507	$	474	$	1			—	%	$	34			7	%
Equipment and software expense		130		126		117		4			3			13			11
Outside services		128		118		107		10			8			21			20
Occupancy		80		82		81		(2	)		(2	)		(1	)		(1	)
Other operating expense		127		118		131		9			8			(4	)		(3	)
Noninterest expense	$	973	$	951	$	910	$	22			2	%	$	63			7	%
Notable items*	$	19	$	7	$	9	$	12			171	%	$	10			111	%
Underlying,* as applicable
Salaries and employee benefits	$	503	$	505	$	469	$	(2	)		—	%	$	34			7	%
Equipment and software expense		130		126		117		4			3			13			11
Outside services		114		113		106		1			1			8			8
Occupancy		80		82		81		(2	)		(2	)		(1	)		(1	)
Other operating expense		127		118		128		9			8			(1	)		(1	)
Underlying noninterest expense*	$	954	$	944	$	901	$	10			1	%	$	53			6	%

Third quarter 2019 noninterest expense of $973 million increased $63 million, or 7%, from third quarter 2018. Underlying noninterest expense before the impact of Acquisitions* of $915 million increased $39 million, or 4%, largely reflecting an increase in salaries and employee benefits given the impact of annual merit increases and revenue-based incentives as well as an increase in equipment and software expense and outside services. Results reflect the impact of our continued investments in growth initiatives.

8

Citizens Financial Group, Inc.

Compared with second quarter 2019, noninterest expense increased $22 million, or 2%. Underlying noninterest expense of $954 million* increased $10 million, largely reflecting $10 million in other operating expense related to the lease restructuring transaction. Results also reflect continued focus on expense discipline and the benefit of TOP efficiency initiatives.

The third quarter 2019 effective tax rate of 20.5% includes the impact of notable items largely tied to an operational restructure. On an Underlying basis*, the effective tax rate of 22.3% was broadly stable and compares to 23.2% for third quarter 2018 and 21.9% for second quarter 2019.

Consolidated balance sheet review(1)										3Q19 change from
($s in millions)	3Q19			2Q19			3Q18			2Q19						3Q18
										$/bps			%			$/bps			%
Total assets	$	164,362		$	162,749		$	158,598		$	1,613			1	%	$	5,764			4	%
Total loans and leases		117,880			116,838			114,720			1,042			1			3,160			3
Total loans held for sale		2,015			2,205			1,330			(190	)		(9	)		685			52
Deposits		124,714			124,004			117,075			710			1			7,639			7
Stockholders’ equity		21,851			22,017			20,276			(166	)		(1	)		1,575			8
Stockholders’ common equity		20,718			20,884			19,733			(166	)		(1	)		985			5
Tangible common equity	$	13,976		$	14,141		$	13,117		$	(165	)		(1	)%	$	859			7	%
Loan-to-deposit ratio (period-end)(2)		94.5	%		94.2	%		98.0	%		30	bps					(347	) bps
Loans to deposit ratio (average)(2)		94.6			95.6			97.4			(102	)					(276	)
Common equity tier 1 capital ratio(3)		10.3			10.5			10.8
Total capital ratio(3)		13.0	%		13.4	%		13.4	%

1) Represents period end unless otherwise noted.

2) Excludes loans held for sale.

3) Current reporting period regulatory capital ratios are preliminary.

Total assets of $164.4 billion at September 30, 2019 increased $5.8 billion, or 4%, from September 30, 2018, reflecting a $3.8 billion increase in loans and leases and loans held for sale as well as an $854 million increase in customer-related derivative assets, which appear in the financial supplement. Compared with June 30, 2019, total assets increased $1.6 billion driven by growth in loans, the investment portfolio and customer-related derivative assets.

Interest-earning assets							3Q19 change from
($s in millions)	3Q19		2Q19		3Q18		2Q19						3Q18
Period-end interest-earning assets							$			%			$			%
Investments and interest-bearing deposits	$	27,964	$	28,123	$	28,642	$	(159	)		(1	)%	$	(678	)		(2	)%
Commercial loans and leases		56,733		56,963		55,405		(230	)		—			1,328			2
Retail loans		61,147		59,875		59,315		1,272			2			1,832			3
Total loans and leases		117,880		116,838		114,720		1,042			1			3,160			3
Loans held for sale, at fair value		1,993		1,750		1,303		243			14			690			53
Other loans held for sale		22		455		27		(433	)		(95	)		(5	)		(19	)
Total loans and leases and loans held for sale		119,895		119,043		116,050		852			1			3,845			3
Total period-end interest-earning assets	$	147,859	$	147,166	$	144,692	$	693			—	%	$	3,167			2	%
Average interest-earning assets
Investments and interest-bearing deposits	$	27,114	$	26,854	$	26,835	$	260			1	%	$	279			1	%
Commercial loans and leases		56,983		57,879		55,276		(896	)		(2	)		1,707			3
Retail loans		60,274		59,904		58,695		370			1			1,579			3
Total loans and leases		117,257		117,783		113,971		(526	)		—			3,286			3
Loans held for sale, at fair value		1,970		1,528		1,228		442			29			742			60
Other loans held for sale		134		158		129		(24	)		(15	)		5			4
Total loans and leases and loans held for sale		119,361		119,469		115,328		(108	)		—			4,033			3
Total average interest-earning assets	$	146,475	$	146,323	$	142,163	$	152			—	%	$	4,312			3	%

9

Citizens Financial Group, Inc.

Period-end interest earning assets of $147.9 billion increased $3.2 billion, or 2%, from September 30, 2018, as a $3.8 billion, or 3%, increase in loans and loans held for sale was partially offset by a reduction in the investment portfolio. Compared with June 30, 2019, period-end interest-earning assets increased $693 million as a $1 billion increase in loans and leases was partially offset by a reduction in the investment portfolio and loans held for sale. The average effective duration of the securities portfolio decreased to 3.2 years as of September 30, 2019 from 4.7 years at September 30, 2018 and 3.3 years at June 30, 2019, given lower long-term rates that drove an increase in securities prepayment speeds.

Average interest-earning assets of $146.5 billion in third quarter 2019 increased $4.3 billion, or 3%, from third quarter 2018, driven by a $3.3 billion, or 3%, increase in loans and leases. Commercial loans and leases increased $1.7 billion, or 3%, and retail loans increased $1.6 billion, or 3%. Results also reflect a $747 million increase in loans held for sale, given the impact of FAMC. Commercial loan results reflect strength in commercial and industrial loans, driven by geographic, product and client-focused expansion strategies as well as strength in commercial real estate, partially offset by planned reductions in commercial leases. Retail loan growth was driven by mortgage, education finance and other retail, partially offset by lower home equity and planned reductions in auto.

Compared with second quarter 2019, average interest-earning assets were relatively stable, as a $418 million increase in loans held for sale, a $370 million increase in retail loans and a $260 million increase in the investment portfolio were partially offset by a $896 million decrease in commercial loans, as the benefit of geographic, product and client-focused strategies was more than offset by the impact of relatively high repayments and lower line of credit utilization as well as planned reductions in commercial leases. Excluding the impact of second quarter 2019 loan sales, average loans remained broadly stable.

Deposits							3Q19 change from
($s in millions)	3Q19		2Q19		3Q18		2Q19						3Q18
Period-end deposits							$			%			$			%
Demand deposits	$	29,939	$	28,192	$	29,785	$	1,747			6	%	$	154			1	%
Checking with interest		24,403		25,021		22,323		(618	)		(2	)		2,080			9
Savings		13,479		13,495		10,523		(16	)		—			2,956			28
Money market accounts		36,826		35,329		35,613		1,497			4			1,213			3
Term deposits		20,067		21,967		18,831		(1,900	)		(9	)		1,236			7
Total period-end deposits	$	124,714	$	124,004	$	117,075	$	710			1	%	$	7,639			7	%
Average deposits
Demand deposits	$	28,945	$	28,389	$	29,703	$	556			2	%	$	(758	)		(3	)%
Checking with interest		23,422		23,919		21,780		(497	)		(2	)		1,642			8
Savings		13,442		13,324		10,198		118			1			3,244			32
Money market accounts		37,161		35,228		36,593		1,933			5			568			2
Term deposits		20,951		22,292		18,764		(1,341	)		(6	)		2,187			12
Total average deposits	$	123,921	$	123,152	$	117,038	$	769			1	%	$	6,883			6	%

Total period-end deposits of $124.7 billion at September 30, 2019 increased $7.6 billion, or 7%, from September 30, 2018, driven by growth in savings, checking with interest, term deposits and money market accounts.

Compared with June 30, 2019, period-end total deposits increased $710 million reflecting growth in demand deposits and money market accounts, partially offset by a decrease in term deposits and checking with interest. Citizens Access^® deposits totaled $5.6 billion at September 30, 2019, up from $5.4 billion at June 30, 2019.

Third quarter 2019 average deposits of $123.9 billion increased $6.9 billion, or 6%, from third quarter 2018, reflecting growth in savings, term deposits, checking with interest and money market accounts, partially offset by a decrease in demand deposits.

10

Citizens Financial Group, Inc.

Compared with second quarter 2019, average deposits increased $769 million as growth in money market accounts, demand deposits and savings was partially offset by a decrease in term deposits and checking with interest.

Borrowed Funds							3Q19 change from
($s in millions)	3Q19		2Q19		3Q18		2Q19						3Q18
Period-end borrowed funds							$			%			$			%
Federal funds purchased and securities sold under agreements to repurchase	$	867	$	1,132	$	374	$	(265	)		(23	)%	$	493			132	%
Other short-term borrowed funds(1)		210		309		512		(99	)		(32	)		(302	)		(59	)
Long-term borrowed funds(1)
FHLB advances		3,007		2,258		8,012		749			33			(5,005	)		(62	)
Senior debt		8,143		7,624		7,471		519			7			672			9
Subordinated debt and other debt		1,656		1,656		1,650		—			—			6			—
Total borrowed funds	$	13,883	$	12,979	$	18,019	$	904			7	%	$	(4,136	)		(23	)
Average borrowed funds
Federal funds purchased and securities sold under agreements to repurchase	$	487	$	818	$	643	$	(331	)		(40	)%	$	(156	)		(24	)%
Other short-term borrowed funds(1)		113		45		748		68			151			(635	)		(85	)
Long-term borrowed funds(1)
FHLB advances		2,478		3,155		5,038		(677	)		(21	)		(2,560	)		(51	)
Senior debt		8,000		7,573		7,472		427			6			528			7
Subordinated debt and other debt		1,656		1,658		1,774		(2	)		—			(118	)		(7	)
Total average borrowed funds	$	12,734	$	13,249	$	15,675	$	(515	)		(4	)%	$	(2,941	)		(19	)%

1) Beginning in 1Q19, borrowed funds balances are based on original maturity and prior periods have been revised consistent with the current presentation.

Total borrowed funds of $13.9 billion at September 30, 2019 decreased $4.1 billion, or 23%, from September 30, 2018, reflecting a $4.3 billion decrease in long-term borrowings partially offset by a $191 million increase in short-term borrowings, given improved funding mix from deposit growth. Compared with June 30, 2019, total borrowed funds increased $904 million, reflecting a $1.3 billion increase in long-term borrowings partially offset by a $364 million decrease in short-term borrowed funds.

Average borrowed funds of $12.7 billion decreased $2.9 billion, or 19%, from third quarter 2018 driven by a $2.2 billion decrease in long-term borrowings and a $791 million decrease in short-term borrowings, reflecting improved funding mix from deposit growth partially offset by an increase in senior debt. Compared with June 30, 2019 average borrowed funds decreased $515 million, or 4%, reflecting a $263 million decrease in short-term borrowings and a $252 million decrease in long-term borrowings given improved funding mix from deposit growth.

Capital										3Q19 change from
($s and shares in millions except per share  data)	3Q19			2Q19			3Q18			2Q19						3Q18
Period-end capital										$			%			$			%
Stockholders’ equity	$	21,851		$	22,017		$	20,276		$	(166	)		(1	)%	$	1,575			8	%
Stockholders’ common equity		20,718			20,884			19,733			(166	)		(1	)		985			5
Tangible common equity		13,976			14,141			13,117			(165	)		(1	)		859			7
Tangible book value per common share	$	31.48		$	30.88		$	27.66		$	0.60			2		$	3.82			14
Common shares - at end of period		443.9			457.9			474.1			(14.0	)		(3	)		(30.2	)		(6	)
Common shares - average (diluted)		447.1			459.3			477.6			(12.2	)		(3	)%		(30.5	)		(6	)%
Common equity tier 1 capital ratio(1)		10.3	%		10.5	%		10.8	%
Total capital ratio(1)		13.0			13.4			13.4
Tier 1 leverage ratio(1)		9.9	%		10.1	%		9.9	%

1) Current reporting-period regulatory capital ratios are preliminary.

11

Citizens Financial Group, Inc.

At September 30, 2019, our Basel III capital ratios remained well in excess of applicable regulatory requirements with a CET1 capital ratio of 10.3% compared with 10.5% at June 30, 2019 and 10.8% at September 30, 2018, and a total capital ratio of 13.0% compared with total capital ratios of 13.4% as of June 30, 2019 and 13.4% as of September 30, 2018.* Our capital ratios continue to reflect progress towards our objective of aligning our capital profile with peer regional banks, while maintaining a strong capital base to continue to drive future performance.

Tangible book value per common share of $31.48 increased 2% from second quarter 2019 and increased 14% from third quarter 2018.

As part of CFG’s 2019 Capital Plan (the “Plan”), the company increased its third quarter 2019 quarterly common dividend by 13% and repurchased 14.1 million shares of common stock at a weighted-average price of $35.43. Total capital returned to shareholders in third quarter 2019, including common dividends, was $662 million. These results compare with $268 million returned to common shareholders in second quarter 2019 and $529 million in third quarter 2018. Future capital actions are subject to consideration and approval by Citizens’ Board of Directors. Citizens continues to target a medium-term dividend payout ratio in the 35 to 40 percent range.

Credit quality review										3Q19 change from
($s in millions)	3Q19			2Q19			3Q18			2Q19						3Q18
										$/bps			%			$/bps			%
Nonperforming loans and leases	$	793		$	770		$	832		$	23			3	%	$	(39	)		(5	)%
Net charge-offs		113			106			86			7			7			27			31
Provision for credit losses		101			97			78			4			4			23			29
Allowance for loan and lease losses	$	1,263		$	1,227		$	1,242		$	36			3	%	$	21			2	%
Nonperforming loans and leases as a % of loans and leases		0.67	%		0.66	%		0.73	%		1	bps					(6	) bps
Net charge-offs as a % of average loans and leases		0.38			0.36			0.30			2						8
Allowance for loan and lease losses as a % of loans and leases		1.07			1.05			1.08			2						(1	)
Allowance for loan and lease losses as a % of nonperforming loans and leases		159.3	%		159.4	%		149.3	%		(11	)bps					NM

Overall credit quality remains strong, reflecting an improving risk profile in retail and a broadly stable risk profile in commercial. Nonperforming loans and leases decreased $39 million, or 5%, compared with September 30, 2018, reflecting a $23 million increase tied to commercial real estate and a $62 million decrease in retail driven by improvements in home equity and education. Compared to June 30, 2019, nonperforming loans and leases of $793 million increased $23 million, or 3%, reflecting a $62 million increase in commercial primarily tied to a small number of uncorrelated loans, partially offset by a $39 million decrease in retail driven by improvements in home equity and education. The nonperforming loans and leases to loans and leases ratio of 0.67% at September 30, 2019 remained stable with June 30, 2019 levels and improved 6 basis points from 0.73% at September 30, 2018.

Net charge-offs of $113 million increased $27 million from third quarter 2018, reflecting a $16 million increase in commercial driven by a small number of uncorrelated losses. Results also reflect an $11 million increase in retail driven by expected seasoning in growth portfolios. Third quarter 2019 net charge-offs of 38 basis points of average loans and leases compares to 30 basis points in third quarter 2018 and 36 basis points in second quarter 2019.

Compared with second quarter 2019, net charge-offs of $113 million increased $7 million, largely reflecting the impact of the lease restructuring transaction.

12

Citizens Financial Group, Inc.

Allowance for loan and lease losses of $1.3 billion increased $36 million from second quarter 2019 and $21 million from third quarter 2018 levels, as the impact of loan growth and expected seasoning in retail growth portfolios was partially offset by a modest reduction in commercial, given the broadly stable risk profile of the portfolio and an overall benign credit environment.

The ratio of the allowance for loan and lease losses to loans and leases of 1.07% as of September 30, 2019, compares to 1.05% as of June 30, 2019 and 1.08% as of September 30, 2018. The allowance for loan and lease losses to nonperforming loans and leases ratio of 159% as of September 30, 2019 compares to 159% as of June 30, 2019, and 149% as of September 30, 2018.

Corresponding Financial Tables and Information

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

Media:     Peter Lucht - 781.655.2289

Investors: Ellen A. Taylor - 203.900.6854

Conference Call

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

Time:      9:00 am ET

Dial-in: (800) 230-1059, conference ID 471046

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

Replay Information: A replay of the conference call will be available beginning at 11:00 am ET on October 18 through November 18, 2019. Please dial (800) 475-6701 and enter access code 471046. The webcast replay will be available at http://investor.citizensbank.com under Events & Presentations.

About Citizens Financial Group, Inc.

Citizens Financial Group, Inc. is one of the nation’s oldest and largest financial institutions, with $164.4 billion in assets as of September 30, 2019. Headquartered in Providence, Rhode Island, Citizens offers a broad range of retail and commercial banking products and services to individuals, small businesses, middle-market companies, large corporations and institutions. Citizens helps its customers reach their potential by listening to them and by understanding their needs in order to offer tailored advice, ideas and solutions. In Consumer Banking, Citizens provides an integrated experience that includes mobile and online banking, a 24/7 customer contact center and the convenience of approximately 2,900 ATMs and approximately 1,100 branches in 11 states in the New England, Mid-Atlantic and Midwest regions. Consumer Banking products and services include a full range of banking, lending, savings, wealth management and small business offerings. In Commercial Banking, Citizens offers corporate, institutional and not-for-profit clients a full range of wholesale banking products and services, including lending and deposits, capital markets, treasury services, foreign exchange and interest rate products, and asset finance. More information is available at www.citizensbank.com or visit us on Twitter, LinkedIn or Facebook.

13

Citizens Financial Group, Inc.

Key Performance Metrics and Non-GAAP Financial Measures and Reconciliations

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

Key Performance Metrics:

Our Management uses certain key performance metrics (KPMs) to gauge our progress against strategic and operational goals, as well as to compare our performance against peers. The KPMs are referred to in our Registration Statements on Form S-1 and our external financial reports filed with the Securities and Exchange Commission. The KPMs include:

• Return on average tangible common equity (ROTCE);

• Return on average total tangible assets (ROTA);

• Efficiency ratio;

• Operating leverage; and

• Common equity tier 1 capital ratio.

Established targets for the KPMs are based on Management-reporting results which are currently referred to by the Company as “Underlying” results. In historical periods, these results may have been referred to as “Adjusted” or “Adjusted/Underlying” results. We believe that Underlying results, which exclude notable items, provide the best representation of our underlying financial progress toward the KPMs as the results exclude items that our Management does not consider indicative of our on-going financial performance. We have consistently shown investors our KPMs on a Management-reporting basis since our initial public offering in September of 2014. KPMs that reflect Underlying results are considered non-GAAP financial measures.

Non-GAAP Financial Measures:

This document contains non-GAAP financial measures denoted as Underlying results. In historical periods, these results may have been referred to as Adjusted or Adjusted/Underlying results. Underlying results for any given reporting period exclude certain items that may occur in that period which Management does not consider indicative of the Company’s on-going financial performance. We believe these non-GAAP financial measures provide useful information to investors because they are used by our Management to evaluate our operating performance and make day-to-day operating decisions. In addition, we believe our Underlying results in any given reporting period reflect our on-going financial performance in that period and, accordingly, are useful to consider in addition to our GAAP financial results. We further believe the presentation of Underlying results increases comparability of period-to-period results. The following tables present reconciliations of our non-GAAP measures to the most directly comparable GAAP financial measures.

Other companies may use similarly titled non-GAAP financial measures that are calculated differently from the way we calculate such measures. Accordingly, our non-GAAP financial measures may not be comparable to similar measures used by such companies. We caution investors not to place undue reliance on such non-GAAP financial measures, but to consider them with the most directly comparable GAAP measures. Non-GAAP financial measures have limitations as analytical tools and should not be considered in isolation or as a substitute for our results reported under GAAP.

14

Citizens Financial Group, Inc.

Key performance metrics, non-GAAP financial measures and reconciliations

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

		QUARTERLY TRENDS
											3Q19 Change
		3Q19			2Q19			3Q18			2Q19						3Q18
											$/bps			%			$/bps			%
Noninterest income, Underlying:
Noninterest income (GAAP)		$	493		$	462		$	416		$	31			7	%	$	77			19	%
Less: Notable items			—			—			—			—			—			—			—
Noninterest income, Underlying (non-GAAP)		$	493		$	462		$	416		$	31			7	%	$	77			19	%
Total revenue, Underlying:
Total revenue (GAAP)	A	$	1,638		$	1,628		$	1,564		$	10			1	%	$	74			5	%
Less: Notable items			—			—			—			—			—			—			—
Total revenue, Underlying (non-GAAP)	B	$	1,638		$	1,628		$	1,564		$	10			1	%	$	74			5	%
Noninterest expense, Underlying:
Noninterest expense (GAAP)	C	$	973		$	951		$	910		$	22			2	%	$	63			7	%
Less: Notable items			19			7			9			12			171			10			111
Noninterest expense, Underlying (non-GAAP)	D	$	954		$	944		$	901		$	10			1	%	$	53			6	%
Pre-provision profit:
Total revenue (GAAP)	A	$	1,638		$	1,628		$	1,564		$	10			1	%	$	74			5	%
Less: Noninterest expense (GAAP)	C		973			951			910			22			2			63			7
Pre-provision profit (GAAP)		$	665		$	677		$	654		($	12	)		(2	%)	$	11			2	%
Pre-provision profit, Underlying:
Total revenue, Underlying (non-GAAP)	B	$	1,638		$	1,628		$	1,564		$	10			1	%	$	74			5	%
Less: Noninterest expense, Underlying (non-GAAP)	D		954			944			901			10			1			53			6
Pre-provision profit, Underlying (non-GAAP)		$	684		$	684		$	663		$	—			—	%	$	21			3	%
Income before income tax expense, Underlying:
Income before income tax expense (GAAP)	E	$	564		$	580		$	576		($	16	)		(3	%)	($	12	)		(2	%)
Less: Income (expense) before income tax expense (benefit) related to notable items			(19	)		(7	)		(9	)		(12	)		(171	)		(10	)		(111	)
Income before income tax expense, Underlying (non-GAAP)	F	$	583		$	587		$	585		($	4	)		(1	%)	($	2	)		—	%
Income tax expense, Underlying:
Income tax expense (benefit) (GAAP)	G	$	115		$	127		$	133		($	12	)		(9	%)	($	18	)		(14	%)
Less: Income tax expense (benefit) related to notable items			(15	)		(2	)		(2	)		(13	)		NM			(13	)		NM
Income tax expense, Underlying (non-GAAP)	H	$	130		$	129		$	135		$	1			1	%	($	5	)		(4	%)
Net income, Underlying:
Net income (GAAP)	I	$	449		$	453		$	443		($	4	)		(1	%)	$	6			1	%
Add: Notable items, net of income tax expense (benefit)			4			5			7			(1	)		(20	)		(3	)		(43	)
Net income, Underlying (non-GAAP)	J	$	453		$	458		$	450		($	5	)		(1	%)	$	3			1	%
Net income available to common stockholders, Underlying:
Net income available to common stockholders (GAAP)	K	$	432		$	435		$	436		($	3	)		(1	%)	($	4	)		(1	%)
Add: Notable items, net of income tax expense (benefit)			4			5			7			(1	)		(20	)		(3	)		(43	)
Net income available to common stockholders, Underlying (non-GAAP)	L	$	436		$	440		$	443		($	4	)		(1	%)	($	7	)		(2	%)

15

Citizens Financial Group, Inc.

Key performance metrics, non-GAAP financial measures and reconciliations (continued)

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

		QUARTERLY TRENDS
											3Q19 Change
		3Q19			2Q19			3Q18			2Q19						3Q18
											$/bps			%			$/bps			%
Operating leverage:
Total revenue (GAAP)	A	$	1,638		$	1,628		$	1,564		$	10			0.68	%	$	74			4.72	%
Less: Noninterest expense (GAAP)	C		973			951			910			22			2.39			63			6.88
Operating leverage															(1.71	%)					(2.16	%)
Operating leverage, Underlying:
Total revenue, Underlying (non-GAAP)	B	$	1,638		$	1,628		$	1,564		$	10			0.68	%	$	74			4.70	%
Less: Noninterest expense, Underlying (non-GAAP)	D		954			944			901			10			1.03			53			5.78
Operating leverage, Underlying (non-GAAP)															(0.35	%)					(1.08	%)
Efficiency ratio and efficiency ratio, Underlying:
Efficiency ratio	C/A		59.40	%		58.41	%		58.20	%		99	bps					120	bps
Efficiency ratio, Underlying (non-GAAP)	D/B		58.22			58.02			57.62			20	bps					60	bps
Effective income tax rate and effective income tax rate, Underlying:
Effective income tax rate	G/E		20.46	%		21.86	%		23.16	%		(140	) bps					(270	) bps
Effective income tax rate, Underlying (non-GAAP)	H/F		22.29			21.89			23.20			40	bps					(91	) bps
Return on average common equity and return on average common equity, Underlying:
Average common equity (GAAP)	M	$	20,533		$	20,420		$	19,599		$	113			1	%	$	934			5	%
Return on average common equity	K/M		8.35	%		8.54	%		8.82	%		(19	) bps					(47	) bps
Return on average common equity, Underlying (non-GAAP)	L/M		8.45			8.63			8.96			(18	) bps					(51	) bps
Return on average tangible common equity and return on average tangible common equity, Underlying:
Average common equity (GAAP)	M	$	20,533		$	20,420		$	19,599		$	113			1	%	$	934			5	%
Less: Average goodwill (GAAP)			7,044			7,040			6,926			4			—			118			2
Less: Average other intangibles (GAAP)			73			80			22			(7	)		(9	)		51			232
Add: Average deferred tax liabilities related to goodwill (GAAP)			372			370			360			2			1			12			3
Average tangible common equity	N	$	13,788		$	13,670		$	13,011		$	118			1	%	$	777			6	%
Return on average tangible common equity	K/N		12.44	%		12.75	%		13.29	%		(31	) bps					(85	) bps
Return on average tangible common equity, Underlying (non-GAAP)	L/N		12.58			12.89			13.50			(31	) bps					(92	) bps
Return on average total assets and return on average total assets, Underlying:
Average total assets (GAAP)	O	$	162,110		$	161,489		$	155,624		$	621			—	%	$	6,486			4	%
Return on average total assets	I/O		1.10	%		1.13	%		1.13	%		(3	) bps					(3	) bps
Return on average total assets, Underlying (non-GAAP)	J/O		1.11			1.14			1.15			(3	) bps					(4	) bps
Return on average total tangible assets and return on average total tangible assets, Underlying:
Average total assets (GAAP)	O	$	162,110		$	161,489		$	155,624		$	621			—	%	$	6,486			4	%
Less: Average goodwill (GAAP)			7,044			7,040			6,926			4			—			118			2
Less: Average other intangibles (GAAP)			73			80			22			(7	)		(9	)		51			232
Add: Average deferred tax liabilities related to goodwill (GAAP)			372			370			360			2			1			12			3
Average tangible assets	P	$	155,365		$	154,739		$	149,036		$	626			—	%	$	6,329			4	%
Return on average total tangible assets	I/P		1.15	%		1.17	%		1.18	%		(2	) bps					(3	) bps
Return on average total tangible assets, Underlying (non-GAAP)	J/P		1.16			1.19			1.20			(3	) bps					(4	) bps

16

Citizens Financial Group, Inc.

Key performance metrics, non-GAAP financial measures and reconciliations (continued)

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

		QUARTERLY TRENDS
								3Q19 Change
		3Q19		2Q19		3Q18		2Q19						3Q18
								$/bps			%			$/bps			%
Tangible book value per common share:
Common shares - at period-end (GAAP)	Q		443,913,525		457,903,826		474,120,616		(13,990,301	)		(3	%)		(30,207,091	)		(6	%)
Common stockholders’ equity (GAAP)		$	20,718	$	20,884	$	19,733	($	166	)		(1	)	$	985			5
Less: Goodwill (GAAP)			7,044		7,040		6,946		4			—			98			1
Less: Other intangible assets (GAAP)			71		74		33		(3	)		(4	)		38			115
Add: Deferred tax liabilities related to goodwill (GAAP)			373		371		363		2			1			10			3
Tangible common equity	R	$	13,976	$	14,141	$	13,117	($	165	)		(1	%)	$	859			7	%
Tangible book value per common share	R/Q	$	31.48	$	30.88	$	27.66	$	0.60			2	%	$	3.82			14	%
Net income per average common share - basic and diluted and net income per average common share - basic and diluted, Underlying:
Average common shares outstanding - basic (GAAP)	S		445,703,987		458,154,335		475,957,526		(12,450,348	)		(3	%)		(30,253,539	)		(6	%)
Average common shares outstanding - diluted (GAAP)	T		447,134,595		459,304,224		477,599,917		(12,169,629	)		(3	)		(30,465,322	)		(6	)
Net income per average common share - basic (GAAP)	K/S	$	0.97	$	0.95	$	0.92	$	0.02			2		$	0.05			5
Net income per average common share - diluted (GAAP)	K/T		0.97		0.95		0.91		0.02			2			0.06			7
Net income per average common share - basic, Underlying (non-GAAP)	L/S		0.98		0.96		0.93		0.02			2			0.05			5
Net income per average common share - diluted, Underlying (non-GAAP)	L/T		0.98		0.96		0.93		0.02			2			0.05			5
Salaries and employee benefits, Underlying:
Salaries and employee benefits (GAAP)		$	508	$	507	$	474	$	1			—	%	$	34			7	%
Less: Notable items			5		2		5		3			150			—			—
Salaries and employee benefits, Underlying (non-GAAP)		$	503	$	505	$	469	($	2	)		—	%	$	34			7	%
Outside services, Underlying:
Outside services (GAAP)		$	128	$	118	$	107	$	10			8	%	$	21			20	%
Less: Notable items			14		5		1		9			180			13			NM
Outside services, Underlying (non-GAAP)		$	114	$	113	$	106	$	1			1	%	$	8			8	%
Other operating expense, Underlying:
Other operating expense (GAAP)		$	127	$	118	$	131	$	9			8	%	($	4	)		(3	%)
Less: Notable items			—		—		3		—			—			(3	)		(100	)
Other operating expense, Underlying (non-GAAP)		$	127	$	118	$	128	$	9			8	%	($	1	)		(1	%)

17

Citizens Financial Group, Inc.

Key performance metrics, non-GAAP financial measures and reconciliations - Underlying excluding Acquisitions

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

		QUARTERLY TRENDS
								3Q19 Change
		3Q19		2Q19		3Q18		2Q19						3Q18
								$/bps			%			$/bps		%
Noninterest income, Underlying excluding Acquisitions:
Noninterest income (GAAP)		$	493	$	462	$	416	$	31			7	%	$	77		19	%
Less: Acquisitions impact			78		49		24		29			59			54		225
Noninterest income, Underlying excluding Acquisitions (non-GAAP)		$	415	$	413	$	392	$	2			—	%	$	23		6	%
Total revenue, Underlying excluding Acquisitions:
Total revenue (GAAP)	A	$	1,638	$	1,628	$	1,564	$	10			1	%	$	74		5	%
Less: Acquisitions impact			85		54		26		31			57			59		227
Total revenue, Underlying excluding Acquisitions (non-GAAP)	B	$	1,553	$	1,574	$	1,538	($	21	)		(1	%)	$	15		1	%
Noninterest expense, Underlying excluding Acquisitions:
Noninterest expense (GAAP)	C	$	973	$	951	$	910	$	22			2	%	$	63		7	%
Less: Notable items			19		7		9		12			171			10		111
Less: Acquisitions impact			39		37		25		2			5			14		56
Noninterest expense, Underlying excluding Acquisitions (non-GAAP)	D	$	915	$	907	$	876	$	8			1	%	$	39		4	%
Operating leverage:
Total revenue (GAAP)	A	$	1,638	$	1,628	$	1,564	$	10			0.68	%	$	74		4.72	%
Less: Noninterest expense (GAAP)	C		973		951		910		22			2.39			63		6.88
Operating leverage												(1.71	%)				(2.16	%)
Operating leverage, Underlying excluding Acquisitions:
Total revenue, Underlying excluding Acquisitions (non-GAAP)	B	$	1,553	$	1,574	$	1,538	($	21	)		(1.36	%)	$	15		0.94	%
Less: Noninterest expense, Underlying excluding Acquisitions (non-GAAP)	D		915		907		876		8			0.79			39		4.40
Operating leverage, Underlying excluding Acquisitions (non-GAAP)												(2.15	%)				(3.46	%)

18

Citizens Financial Group, Inc.

Key performance metrics, non-GAAP financial measures and reconciliations - Underlying excluding Acquisitions and Lease Restructuring

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

	QUARTERLY TRENDS
							3Q19 Change
	3Q19		2Q19		3Q18		2Q19						3Q18
							$/bps			%			$/bps		%
Noninterest income, Underlying excluding Acquisitions and Lease restructuring:
Noninterest income (GAAP)	$	493	$	462	$	416	$	31			7	%	$	77		19	%
Less: Notable items		—		—		—		—			—			—		—
Less: Acquisitions impact		78		49		24		29			59			54		225
Less: Lease restructuring impact		7		—		—		7			100			7		100
Noninterest income, Underlying excluding Acquisitions and Lease restructuring (non-GAAP)	$	408	$	413	$	392	($	5	)		(1	%)	$	16		4	%
Noninterest expense, Underlying excluding Acquisitions and Lease restructuring:
Noninterest expense (GAAP)	$	973	$	951	$	910	$	22			2	%	$	63		7	%
Less: Notable items		19		7		9		12			171			10		111
Less: Acquisitions impact		39		37		25		2			5			14		56
Less: Lease restructuring impact		10		—		—		10			100			10		100
Noninterest expense, Underlying excluding Acquisitions and Lease restructuring (non-GAAP)	$	905	$	907	$	876	($	2	)		—	%	$	29		3	%

19

Citizens Financial Group, Inc.

Forward-Looking Statements

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

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

• Negative economic and political conditions that adversely affect the general economy, housing prices, the job market, consumer confidence and spending habits which may affect, among other things, the level of nonperforming assets, charge-offs and provision expense;

• The rate of growth in the economy and employment levels, as well as general business and economic conditions, and changes in the competitive environment;

• Our ability to implement our business strategy, including the cost savings and efficiency components, and achieve our financial performance goals;

• Our ability to meet heightened supervisory requirements and expectations;

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

• Our capital and liquidity requirements (including under regulatory capital standards, such as the U.S. Basel III capital rules) and our ability to generate capital internally or raise capital on favorable terms;

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

20

Citizens Financial Group, Inc.

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

• The effect of changes in the level of checking or savings account deposits on our funding costs and net interest margin;

• Financial services reform and other current, pending or future legislation or regulation that could have a negative effect on our revenue and businesses, including the Dodd-Frank Act and other legislation and regulation relating to bank products and services;

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

• Management’s ability to identify and manage these and other risks.

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

More information about factors that could cause actual results to differ materially from those described in the forward-looking statements can be found under “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2018.

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

CFG-IR

21

EX-99.2

3Q19 Financial Results October 18, 2019 Exhibit 99.2

Forward-looking statements and use of key performance metrics and non-GAAP financial measures This document contains forward-looking statements within the meaning of Private Securities Litigation Reform Act of 1995. Statements regarding potential future share repurchases and future dividends are forward-looking statements. Also, any statement that does not describe historical or current facts is a forward-looking statement. These statements often include the words “believes,” “expects,” “anticipates,” “estimates,” “intends,” “plans,” “goals,” “targets,” “initiatives,” “potentially,” “probably,” “projects,” “outlook” or similar expressions or future conditional verbs such as “may,” “will,” “should,” “would,” and “could.” Forward-looking statements are based upon the current beliefs and expectations of management, and on information currently available to management. Our statements speak as of the date hereof, and we do not assume any obligation to update these statements or to update the reasons why actual results could differ from those contained in such statements in light of new information or future events. We caution you, therefore, against relying on any of these forward-looking statements. They are neither statements of historical fact nor guarantees or assurances of future performance. While there is no assurance that any list of risks and uncertainties or risk factors is complete, important factors that could cause actual results to differ materially from those in the forward-looking statements include the following, without limitation: Negative economic and political conditions that adversely affect the general economy, housing prices, the job market, consumer confidence and spending habits which may affect, among other things, the level of nonperforming assets, charge-offs and provision expense; The rate of growth in the economy and employment levels, as well as general business and economic conditions, and changes in the competitive environment; Our ability to implement our business strategy, including the cost savings and efficiency components, and achieve our financial performance goals; Our ability to meet heightened supervisory requirements and expectations; Liabilities and business restrictions resulting from litigation and regulatory investigations; Our capital and liquidity requirements (including under regulatory capital standards, such as the U.S. Basel III capital rules) and our ability to generate capital internally or raise capital on favorable terms; The effect of changes in interest rates on our net interest income, net interest margin and our mortgage originations, mortgage servicing rights and mortgages held for sale; Changes in interest rates and market liquidity, as well as the magnitude of such changes, which may reduce interest margins, impact funding sources and affect the ability to originate and distribute financial products in the primary and secondary markets; The effect of changes in the level of checking or savings account deposits on our funding costs and net interest margin; Financial services reform and other current, pending or future legislation or regulation that could have a negative effect on our revenue and businesses, including the Dodd-Frank Act and other legislation and regulation relating to bank products and services; A failure in or breach of our operational or security systems or infrastructure, or those of our third party vendors or other service providers, including as a result of cyber-attacks; and Management’s ability to identify and manage these and other risks. In addition to the above factors, we also caution that the actual amounts and timing of any future common stock dividends or share repurchases will be subject to various factors, including our capital position, financial performance, capital impacts of strategic initiatives, market conditions, and regulatory and accounting considerations, as well as any other factors that our Board of Directors deems relevant in making such a determination. Therefore, there can be no assurance that we will repurchase shares or pay any dividends to holders of our common stock, or as to the amount of any such repurchases or dividends. More information about factors that could cause actual results to differ materially from those described in the forward-looking statements can be found under “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2018. Key Performance Metrics and Non-GAAP Financial Measures and Reconciliations Key Performance Metrics: Our Management uses certain key performance metrics (KPMs) to gauge our progress against strategic and operational goals, as well as to compare our performance against peers. The KPMs are referred to in our Registration Statements on Form S-1 and our external financial reports filed with the Securities and Exchange Commission. The KPMs include: Return on average tangible common equity (ROTCE); Return on average total tangible assets (ROTA); Efficiency ratio; Operating leverage; and Common equity tier 1 capital ratio. Established targets for the KPMs are based on Management-reporting results which are currently referred to by the Company as “Underlying” results. In historical periods, these results may have been referred to as "Adjusted" or "Adjusted/Underlying" results. We believe that Underlying results, which exclude notable items, provide the best representation of our underlying financial progress toward the KPMs as the results exclude items that our Management does not consider indicative of our on-going financial performance. We have consistently shown investors our KPMs on a Management-reporting basis since our initial public offering in September of 2014. KPMs that reflect Underlying results are considered non-GAAP financial measures. Non-GAAP Financial Measures: This document contains non-GAAP financial measures denoted as Underlying results. In historical periods, these results may have been referred to as Adjusted or Adjusted/Underlying results. Underlying results for any given reporting period exclude certain items that may occur in that period which Management does not consider indicative of the Company’s on-going financial performance. We believe these non-GAAP financial measures provide useful information to investors because they are used by our Management to evaluate our operating performance and make day-to-day operating decisions. In addition, we believe our Underlying results in any given reporting period reflect our on-going financial performance in that period and, accordingly, are useful to consider in addition to our GAAP financial results. We further believe the presentation of Underlying results increases comparability of period-to-period results. The appendix present reconciliations of our non-GAAP measures to the most directly comparable GAAP financial measures. Other companies may use similarly titled non-GAAP financial measures that are calculated differently from the way we calculate such measures. Accordingly, our non-GAAP financial measures may not be comparable to similar measures used by such companies. We caution investors not to place undue reliance on such non-GAAP financial measures, but to consider them with the most directly comparable GAAP measures. Non-GAAP financial measures have limitations as analytical tools and should not be considered in isolation or as a substitute for our results reported under GAAP.

3Q19 GAAP financial summary See pages 29-30 for notes and important information on Key Performance Metrics and Non-GAAP Financial Measures, as applicable, including “Underlying” results. “Underlying” results exclude the impact of notable items described on page 20.

Solid profitability and returns Strong capital, liquidity and funding Strong credit quality Continued progress on strategic growth, efficiency and balance sheet optimization initiatives Overall credit quality remains strong; NPLs of 0.67% of loans stable with 2Q19 and improved from 0.73% in 3Q18 NPL coverage ratio of 159% stable with 2Q19 and improved from 149% in 3Q18 Allowance to loans of 1.07% vs. 1.05% in 2Q19 and 1.08% in 3Q18, reflecting continued strong credit quality Generated 3% loan growth and 6% deposit growth YoY(2) Loan yields of 4.56% improved 10 bps YoY, reflecting improved portfolio mix and the benefit of higher short-term rates 3Q19 average deposits increased $6.9 billion, or 6% vs. 3Q18 and up 1% QoQ Deposit costs remain reasonably well-controlled, up 22 bps YoY; down 5 bps QoQ Consumer Banking – 10% deposit growth and 3% loan growth YoY(2); demand deposits up 6% YoY; strong momentum in fee income categories with mortgage banking fees, up 139% YoY, card fees, up 11% YoY, and trust and investment services fees, up 12% YoY Commercial Banking – Loan growth of 4% YoY(2); continue to benefit from investments to further broaden and enhance our capabilities Strong execution on TOP programs; increased expected YE2019 pre-tax run-rate benefit of TOP 5 by ~$10 million to ~$105-$115 million; substantial work underway on TOP 6 with a target of ~$300-$325 million pre-tax run-rate benefit by YE2021 3Q19 highlights Strong capital levels with a CET1 ratio of 10.3%(3) Continued improvement in LDR, with period-end ratio of 94.5% vs. 98.0% a year ago Repurchased $500 million of common shares, and including common dividends returned $662 million to shareholders, up 25% YoY Underlying net income available to common of $436 million, down 2%, with EPS of $0.98 up 5% YoY(1) Results reflect good operating discipline in the face of a challenging rate and yield-curve environment Underlying ROTCE of 12.6%(1) compares with 13.5% in 3Q18 and 12.9% in 2Q19; TBV/share of $31.48 up 14% YoY and 2% QoQ Results reflect the impact of higher securities valuations given lower long-term rates with reduced ROTCE and increased TBV/share Revenue of $1.6 billion up 5% YoY and stable QoQ NII stable YoY with earning asset growth of 3%; down 2% QoQ NIM of 3.12% down 10 bps YoY; down 9 bps QoQ given rate and yield curve impacts Record noninterest income up 19% YoY reflects the strength of our diversified business model Strong results in mortgage banking, card fees and FX & IRP more than offset lower Capital Markets and Wealth fees Underlying noninterest expense up 6% YoY and stable QoQ before the impact of an aircraft lease transaction, reflecting continued expense discipline(1) Underlying efficiency ratio of 58.2% compares with 57.6% in 3Q18(1) See pages 29-30 for notes and important information on Key Performance Metrics and Non-GAAP Financial Measures, as applicable, including “Underlying” results. “Underlying” results exclude the impact of notable items described on page 20.

Highlights 3Q19 Underlying financial summary(1) Linked quarter: Underlying net income available to common remained relatively stable, with EPS of $0.98 up 2%, and TBV/share up 2% Third quarter results also reflect the impact of an aircraft lease restructuring that decreased PPNR $3 million. This transaction increased: noninterest income $7 million, noninterest expense $10 million and NCOs/provision expense $5 million Before the impact of this transaction, Underlying results reflect relatively stable revenue and expense trends, with provision expense of $96 million NII down 2%, reflecting the impacts of a challenging yield-curve environment, as lower interest-earning asset yields more than offset the benefit of lower funding costs and day count Record noninterest income increased $31 million, or 7%, with strong results in mortgage banking and card fees Underlying noninterest expense was up $10 million, or 1%, reflecting the impact of the lease restructuring in other operating expense On an Underlying basis, the effective tax rate was 22.3%, reflecting a 1.8% notable-item impact largely tied to an operational restructure(1) Prior-year quarter: Underlying net income available to common down 2% and EPS up 5%, TBV/share up 14% NII was relatively stable, given 3% growth in interest-earning assets which offset the impact of lower net interest margin, reflecting the impacts of a challenging yield-curve environment Record noninterest income up $77 million, or 19%, reflecting strong results in mortgage banking and card fees, and growth in trust and investment services fees and FX & IRP products Underlying noninterest expense up $53 million, or 6%, and up 3% before the impact of Acquisitions(1) and the lease restructuring, reflecting higher salaries and employee benefits, equipment and software expense and outside services, given the impact of merit increases, higher revenue-driven incentives and investments in strategic growth initiatives See pages 29-30 for notes and important information on Key Performance Metrics and Non-GAAP Financial Measures, as applicable, including “Underlying” results. “Underlying” results exclude the impact of notable items described on page 20. See page 3 for reported results.

Highlights Net interest income Linked quarter: NII decreased $21 million, or 2%, as lower interest-earning asset yields, reflecting the impact of the challenging rate and yield-curve environment, and higher securities premium amortization were only partially offset by the benefit of day count and a reduction in funding costs NIM of 3.12% decreased 9 bps as a reduction in interest-earning asset yields, including the impact from higher securities premium amortization, was only partially offset by the benefit of lower funding costs given lower short-term rates and day count Interest-bearing deposit costs were down 6 bps, reflecting strong pricing discipline Prior-year quarter: NII relatively stable, given 3% growth in interest-earning assets which offset the impact of lower net interest margin, reflecting the impacts of a challenging rate and yield-curve environment NIM of 3.12% decreased 10 bps, as an increase in funding costs tied to modestly higher short-term rates and growth, as well as the impact from higher securities premium amortization was only partially offset by the benefit of higher interest-earning asset yields, given continued mix shift towards better-returning assets and modestly higher short-term rates Net interest income $s in millions, except earning assets Average interest-earning assets Net interest income Net interest margin, FTE

Noninterest income Highlights Linked quarter: Record noninterest income up $31 million, or 7%, with strong results in mortgage banking and card fees Service charges and fees increased $2 million, or 2%, reflecting seasonality Strong card fees up $3 million, or 5%, including seasonally higher volumes Capital markets fees of $39 million decreased $18 million from record 2Q19 levels, reflecting the impact of volatile market conditions and seasonality Capital Markets pipelines for 4Q19 are strong Trust and investment services fees of $50 million decreased $3 million, or 6%, from record 2Q19 levels, reflecting the impact of volatile market conditions on investment sales Mortgage banking fees of $117 million increased $55 million on strength in production fees given increased origination volume and higher gain-on-sale margins FX & IRP fees of $35 million remained stable at record levels Other income includes a $7 million benefit tied to the lease restructuring, though was still lower than 2Q19 levels that included strong leasing income Prior-year quarter: Record noninterest income up 19% with strong results in mortgage banking, card, and FX & IRP fees; up 4% before Acquisitions(1) and the impact of the lease restructuring Strong card fees increased $6 million, or 10%, driven by the benefit of higher purchase volumes Capital markets fees decreased $8 million given lower syndication fees, partially offset by an increase in bond underwriting fees Trust and investment services fees increased 11% Mortgage banking fees up $68 million, driven by higher origination volumes and improved gain-on sale margins $s in millions See pages 29-30 for notes and important information on Key Performance Metrics and Non-GAAP Financial Measures, as applicable, including “Underlying” results. “Underlying” results exclude the impact of notable items described on page 20. Underlying noninterest income(1)

$s in millions Noninterest expense Highlights Linked quarter: Underlying noninterest expense increased $10 million, or 1%; stable before the impact of the lease restructuring Underlying salaries and employee benefits decreased $2 million Underlying equipment & software up $4 million, or 3%, driven by technology initiatives Other operating expense included $10 million related to the lease restructuring Prior-year quarter: Underlying noninterest expense was up $53 million, or 6%; up $29 million, or 3%, before Acquisitions(1) and the impact of the lease restructuring, reflecting ongoing investments in growth initiatives as well as continued expense discipline Underlying salaries and benefits before the impact of Acquisitions(1) up $25 million, or 6%, reflecting the impact of annual merit increases, investments in growth initiatives and higher revenue-based incentives FTEs decreased 1% despite the impact of Acquisitions Equipment and software expense up $13 million, or 11%, reflecting investments in growth initiatives Outside services expense up $8 million, or 8%, reflecting higher consumer loan and deposit origination volumes and technology initiatives See pages 29-30 for notes and important information on Key Performance Metrics and Non-GAAP Financial Measures, as applicable, including “Underlying” results. “Underlying” results exclude the impact of notable items described on page 20. See page 21 for noninterest expense reported results detail and page 3 for efficiency ratio reported results. Underlying efficiency ratio(1)

Average loans and leases Highlights YoY loan growth á 3% á 3% á 4% Total core Total core retail Total core commercial Total core commercial loans and leases Total core retail loans (2) Linked quarter: Core loans and leases down $338 million, or 0.3% Relatively stable excluding the impact of second quarter 2019 loan sales tied to balance sheet optimization initiatives Core commercial loans declined $765 million, reflecting relatively high repayments and the impact of lower line of credit utilization in CRE and C&I as well as planned reductions in leasing Core retail loans up $426 million, or 1%, with growth in residential mortgage, education and unsecured, offset by lower home equity and the impact of loan sales Period-end loans increased $1.0 billion, or 1% Total core loan yields decreased 14 bps given the impact of lower rates Prior-year quarter: Core loans and leases up $3.8 billion, or 3% Core commercial up $2.0 billion, or 4%, with strength in C&I and commercial real estate, partially offset by planned reductions in leasing Core retail loans up $1.8 billion, or 3%, reflecting strength in residential mortgage, education and unsecured, partially offset by lower home equity and planned reductions in auto Period-end loans increased $3.2 billion, or 3% Total core loan yields improved 11 bps, largely reflecting the benefit of improved mix given balance sheet optimization initiatives See pages 29-30 for notes and important information on Key Performance Metrics and Non-GAAP Financial Measures, as applicable, including “Underlying” results. “Underlying” results exclude the impact of notable items described on page 20. $s in billions

Linked quarter: Total deposits up $769 million, or 1% Largely reflects growth in money market accounts, DDA and savings, partially offset by lower term deposits and checking with interest Citizens Access® attracted $5.6 billion through quarter end Total deposit costs down 5 bps, reflecting proactive pricing discipline; interest-bearing deposits down 6 bps Total cost of funds down 8 bps, reflecting a shift in funding mix towards deposits from borrowings, proactive pricing discipline and the benefit of lower rates Prior-year quarter: Total deposits up $6.9 billion, or 6% Reflects growth in savings, term deposits, checking with interest and money market accounts, partially offset by lower DDA Total deposit costs increased 22 bps, reflecting the impact of higher rates and growth in money market accounts and term deposits Total cost of funds increased 16 bps, as the benefit of improved funding mix was more than offset by the impact of higher rates Average funding and cost of funds Highlights $s in billions Average interest-bearing liabilities and DDA Total long-term borrowings Fed funds, repo, ST borrowed funds Term deposits Checking with interest DDA Money market & savings

Credit quality remains strong $s in millions (1) Nonperforming loans Allowance for loan and lease losses Highlights Provision for credit losses, net charge-offs Provision for credit losses Total net c/os Net c/o ratio Core c/o ratio Overall credit quality remains strong, reflecting an improving risk profile in retail and a relatively stable risk profile at favorable levels in commercial NPLs to total loans and leases ratio of 0.67% was stable with 2Q19 and improved from 0.73% in 3Q18 NPLs of $793 million increased $23 million, or 3% QoQ, reflecting a $62 million increase in commercial tied to a small number of uncorrelated loans, partially offset by a $39 million decrease in retail; NPLs decreased $39 million, or 5% YoY Provision for credit losses of $101 million compares with $97 million in 2Q19 and $78 million 3Q18; net charge-offs increased $7 million QoQ Net charge-offs and provision include $5 million tied to lease restructuring transaction Allowance to total loans and leases of 1.07% remained relatively stable Allowance to NPL coverage ratio(1) of 159% remained stable with 2Q19 and improved from 149% in 3Q18 See pages 29-30 for notes and important information on Key Performance Metrics and Non-GAAP Financial Measures, as applicable, including “Underlying” results. “Underlying” results exclude the impact of notable items described on page 20.

Capital levels remain at the higher end of the range for regional peers 3Q19 CET1 ratio of 10.3% decreased modestly from 2Q19 LDR of 94.5% compares with 94.2% in 2Q19(2) Fully compliant with LCR(3) 2019 Capital Plan reflects further commitment towards prudent return of capital Increased quarterly common dividend by 13% in 3Q19 Repurchased 14.1 million shares of common stock at a weighted-average price of $35.43 Total capital returned to shareholders, including common dividends was $662 million Reiterate medium-term dividend payout ratio target of 35%-40% Capital and liquidity remain strong Highlights Capital Ratio trend(1) Loan-to-deposit ratio(2) See pages 29-30 for notes and important information on Key Performance Metrics and Non-GAAP Financial Measures, as applicable, including “Underlying” results. “Underlying” results exclude the impact of notable items described on page 20.

Current Expected Credit Loss (“CECL”) standard implementation Estimated 1/1/2020 day-1 cumulative impact of CECL implementation: Net increase to allowance for credit losses of ~30%-35%;~22-25 bp reduction of CET1 on a fully-phased in basis Expect an increase in retail reserves tied to longer-duration loans, partially offset by a decrease tied to generally shorter-duration commercial loans Capital impact to be phased in 25% per year by 1/1/2023 Estimate utilizes forecast macroeconomic conditions and balances as of August 2019 Two-year reasonable and supportable forecast period One year reversion to long-run average macroeconomic assumptions derived from historical data Estimate subject to change based on continuing review of models and assumptions as well as changes in forecasted macroeconomic conditions and loan mix

3Q19 YoY Strategic initiatives update Fee growth Consumer Enhance Mortgage platform Record mortgage banking fees; originations up 91% and gain on sale margins improved 44 bps YoY Expand Wealth Strength in trust and investment services fees, up 12%; Managed money revenue up 16% YoY Commercial Expand Capital & Global Market capabilities Increased loan syndication lead-left positions by 13% YoY on a trailing twelve-month basis Strength in Global Markets fees, up 11% YoY Build out Treasury Solutions On-boarded ~50% of clients to accessOPTIMA™, new real-time treasury management platform, migration expected to be complete 4Q19 Foundational Increased expected benefit of TOP 5 program by ~$10 million; estimated annualized pre-tax run-rate benefit by the end of 2019 of ~$105-$115 million Substantial work underway on TOP 6 program with a target of ~$300-$325 million pre-tax run-rate benefit by YE2021; bodes well for 2020 and beyond Started leveraging advanced analytics in key areas including personalization; mobilized first wave of Agile transformation with ~57 business and technology pods Balance Sheet Optimization Grow more attractive risk-adjusted return portfolios Consumer - core education, personal unsecured and merchant financing up 16%; Commercial - continue to recycle capital toward higher-return relationships Reposition select portfolios Consumer non-core loans down 23%, auto down 3%, and Asset Finance down 9%; auto and asset finance yields up 51 bps and 25 bps, respectively Optimize deposit mix Proactive IBD pricing, down 6 bps QoQ vs. up 3 bps in 2Q19; Strong DDA performance, with average Consumer DDA balances up 3% QoQ and up 6% YoY Strategic & business highlights Group Fitch upgraded to F1 from F2: CBNA’s Short-Term Issuer Default Rating and Short-Term Deposit Rating, and CFG’s parent Short-Term Issuer Default Rating Consumer Entered new consumer banking partnership program with an iconic technology company to be announced shortly Second year in a row Citizens One Auto Finance ranked #1 in 2019 J.D. Power U.S. Dealer Financing Satisfaction Study #4 in 2019 J.D. Power U.S. Home Mortgage Satisfaction Study; up from #10 in 2018 Commercial Further expanded corporate banking capabilities by adding new West Region leadership Added insurance industry banking expertise and Foreign Exchange coverage professionals to complement geographic expansion

4Q19 outlook Net interest income Noninterest expense Credit trends, tax rate 4Q19 Underlying outlook (includes the impact of acquisitions and excludes expected notable items) Capital Noninterest income $954 million $101 million provision expense ~22% effective tax rate 3Q19 Underlying results(1) 10.3% CET1 ratio(2) $493 million $1,145 million Flat-to-down slightly Provision increase of ~$10 million Tax rate stable ~10.1% CET1 ratio Down modestly from record levels; higher capital markets fees expected to largely offset a drop in mortgage revenues Relatively stable as loan growth offsets rate/yield-curve effects on NIM See pages 29-30 for notes and important information on Key Performance Metrics and Non-GAAP Financial Measures, as applicable, including “Underlying” results. “Underlying” results exclude the impact of notable items described on page 20.

Key messages Citizens 3Q19 results reflect the benefit of its diversified business model Modest revenue growth QoQ despite challenging rate and yield-curve environment; continued strong expense discipline Record fee income, led by strong mortgage results which offset pressure on NIM Delivered EPS growth of 5% YoY on Underlying basis(1) 12.6% ROTCE on Underlying basis; 58.2% efficiency ratio on Underlying basis(1) TBV/share of $31.48 up 14% YoY; 13% common dividend increase in 3Q19 Capital and credit position remains robust 10.3% CET1 ratio allows for organic loan growth and attractive returns to shareholders(2) Credit quality remains strong with continued YoY improvement in risk ratings and FICO scores Good progress across the board in delivering on strategic initiatives Strong momentum in fee income with record results in mortgage and card fees Significant progress in advancing new technology initiatives, including new cash management platform and real-time payments in Commercial, and moving to pilot phase of new mobile platform in Consumer Continue to deliver on TOP programs with outperformance on TOP 5 and strong early progress on TOP 6 expected to: Transform how we operate and deliver for customers and colleagues Drive meaningful efficiency improvement and fund additional growth & innovation investments to drive medium-term revenue growth See pages 29-30 for notes and important information on Key Performance Metrics and Non-GAAP Financial Measures, as applicable, including “Underlying” results. “Underlying” results exclude the impact of notable items described on page 20.

Appendix

Year-over-Year results Pre-provision profit $s in millions Return on average total tangible assets Net income available to common shareholders and EPS $s in millions, except per share data Return on average tangible common equity Period-end loans $s in billions Period-end deposits $s in billions á 3% á 7% á 3% Underlying results (1) â 4 bps $0.97 á 7% â 2% $0.93 $0.98 Reported results See pages 29-30 for notes and important information on Key Performance Metrics and Non-GAAP Financial Measures, as applicable, including “Underlying” results. “Underlying” results exclude the impact of notable items described on page 20. $0.91 á 5% â 92 bps

YoY Underlying before Acquisitions(1) YTD 2019 vs YTD 2018: Underlying net income available to common stockholders up $55 million, or 4%, and EPS of $2.86 up $0.28, or 11%(1) NII up $111 million, given 4% growth in average interest-earning assets which offset the impact of lower net interest margin, reflecting the impacts of a challenging yield-curve environment Underlying noninterest income increased $208 million, or 18% Strength in capital markets fees, foreign exchange and interest rate products, card fees and leasing income, as well as higher mortgage banking fees and higher trust and investment services fees driven by Acquisitions Underlying noninterest expense increased $171 million, or 6% Results reflect higher equipment and software expense, salaries and employee benefits and outside services, driven by the impact of acquisitions, partially offset by lower other operating expense largely tied to a reduction in FDIC insurance Underlying efficiency ratio improved by 34 bps; positive operating leverage of 1% before the impact of Acquisitions(1) Highlights 3Q19 YTD Underlying financial summary(1) á 3% á 7% á 4% á 3% 1% operating leverage See pages 29-30 for notes and important information on Key Performance Metrics and Non-GAAP Financial Measures, as applicable, including “Underlying” results. “Underlying” results exclude the impact of notable items described on page 20. See page 3 for reported results.

Notable Items(1) 2019 quarterly results reflect notable items related to integration costs primarily tied to the August 1, 2018 Franklin American Mortgage Company (“FAMC”) acquisition, as well as third quarter 2019 costs related to strategic initiatives. Third quarter 2019 included a notable tax item related to an operational restructure which reduced income tax expense and largely reduced the effective tax rate from 22.3% to 20.5%. These notable items have been excluded from reported results to better reflect Underlying operating results.(1) Total estimated after-tax FAMC integration costs are expected to be in the $35-$45 million range, with the integration substantially complete by second quarter 2020. Cumulative after-tax integration costs related to FAMC totaled $29 million through the end of third quarter 2019. See pages 29-30 for notes and important information on Key Performance Metrics and Non-GAAP Financial Measures, as applicable, including “Underlying” results. “Underlying” results exclude the impact of notable items described above.

GAAP noninterest income and noninterest expense summary $s in millions

Key performance metrics, Non-GAAP financial measures and reconciliations $s in millions, except share, per share and ratio data

Key performance metrics, Non-GAAP financial measures and reconciliations $s in millions, except share, per share and ratio data

Key performance metrics, Non-GAAP financial measures and reconciliations $s in millions, except share, per share and ratio data

Key performance metrics, Non-GAAP financial measures and reconciliations $s in millions, except share, per share and ratio data

Key performance metrics, Non-GAAP financial measures and reconciliations – Underlying excluding Acquisitions $s in millions, except share, per share and ratio data

Key performance metrics, Non-GAAP financial measures and reconciliations – Underlying excluding Lease Restructuring $s in millions, except share, per share and ratio data

Key performance metrics, Non-GAAP financial measures and reconciliations – Underlying excluding Acquisitions and Lease Restructuring $s in millions, except share, per share and ratio data

Notes on Key Performance Metrics and Non-GAAP Financial Measures See important information on Key Performance Metrics and Non-GAAP Financial Measures, as applicable, at the beginning and end of this presentation for an explanation of our use of these metrics and non-GAAP financial measures and their reconciliations to GAAP financial measures. “Underlying” or “Adjusted” results exclude the impact of notable items. Where there is a reference to Underlying results in a paragraph or table, all measures that follow these references are on the same basis, when applicable. References to “Underlying results before the impact of Acquisitions” exclude the impact acquisitions that occurred after second quarter 2018 and notable items, as applicable. 3Q19, 2Q19 and 1Q19 after-tax notable items include the $4 million, $5 million and $4 million, respectively, after-tax impact of notable items primarily tied to the integration of FAMC. 4Q18 after-tax notable items include the $29 million impact of a further benefit resulting from December 2017 Tax Legislation, partially offset by other notable items primarily associated with our TOP 5 efficiency initiatives, as well as the $12 million after-tax impact of other notable items associated with the FAMC integration. 3Q18 reported results reflect the $7 million after-tax impact of notable items associated with the FAMC integration. General Notes References to net interest margin are on a fully taxable equivalent ("FTE") basis. In 1Q19, Citizens changed its quarterly presentation of net interest income and net interest margin (NIM). Consistent with our understanding of general peer practice, the Company simplified the calculation of its reported NIM to equal net interest income, annualized based on the actual number of days in the period, divided by average total interest earning assets for the period. Under the Company’s prior methodology, NIM was calculated using the difference between the annualized yield on average total interest-earning assets and total interest-bearing liabilities for the period. The Company also began presenting both net interest income and NIM on an FTE basis. Prior periods have been revised consistent with the current presentation. Beginning in the first quarter of 2019, borrowed funds balances and the associated interest expense are based on original maturity. Prior periods have been adjusted to conform with the current period presentation. References to “Underlying results before the impact of Acquisitions” exclude the impact of acquisitions occurring after 2Q18 and notable items, as applicable. Throughout this presentation, references to consolidated and/or commercial loans and loan growth include leases. Loans held for sale are also referred to as LHFS. Select totals may not sum due to rounding. Current period regulatory capital ratios are preliminary. Any mention of EPS refers to diluted EPS. Throughout this presentation, references to balance sheet items are on an average basis and loans exclude held for sale unless otherwise noted. Notes on slide 3– GAAP financial Summary See above note on key performance metrics and non-GAAP financial measures. See above general note a). In 3Q18, we revised our method of calculating the loan-to-deposit ratio to exclude loans held for sale, consistent with general industry practice. Prior periods have been adjusted to conform with current period presentation. Full-time equivalent employees. Notes on slide 4 – Highlights See above note on key performance metrics and non-GAAP financial measures. See above general note h). See above general note f). Notes on slide 5 – Underlying financial summary See above note on key performance metrics and non-GAAP financial measures. Notes on slide 7 – Underlying noninterest income See above note on key performance metrics and non-GAAP financial measures. Notes on slide 8 – Underlying noninterest expense See above note on key performance metrics and non-GAAP financial measures. Notes on slide 9 – Average loans and leases See above general note e). Non-core loans are primarily liquidating loan and lease portfolios inconsistent with our strategic priorities, generally as a result of geographic location, industry, product type or risk level and are included in Other. Notes on slide 11 –Credit quality remains strong Allowance for loan and lease losses to nonperforming loans and leases. Notes on slide 12 – Capital and liquidity remain strong See above general note f). Period-end loan-to-deposit ratio, excluding loans held for sale. Based on the September 2014 release of the U.S. version of the Liquidity Coverage Ratio (LCR). Note that as a modified LCR company, the company’s minimal LCR requirement is 100% as of January 2017. Notes on slide 15 – Outlook See above note on key performance metrics and non-GAAP financial measures. See above general note f). Notes

Notes on Key Performance Metrics and Non-GAAP Financial Measures See important information on Key Performance Metrics and Non-GAAP Financial Measures, as applicable, at the beginning and end of this presentation for an explanation of our use of these metrics and non-GAAP financial measures and their reconciliations to GAAP financial measures. “Underlying” or “Adjusted” results exclude the impact of notable items. Where there is a reference to Underlying results in a paragraph or table, all measures that follow these references are on the same basis, when applicable. References to “Underlying results before the impact of Acquisitions” exclude the impact acquisitions that occurred after second quarter 2018 and notable items, as applicable. 3Q19, 2Q19 and 1Q19 after-tax notable items include the $4 million, $5 million and $4 million, respectively, after-tax impact of notable items primarily tied to the integration of FAMC. 4Q18 after-tax notable items include the $29 million impact of a further benefit resulting from December 2017 Tax Legislation, partially offset by other notable items primarily associated with our TOP 5 efficiency initiatives, as well as the $12 million after-tax impact of other notable items associated with the FAMC integration. 3Q18 reported results reflect the $7 million after-tax impact of notable items associated with the FAMC integration. General Notes References to net interest margin are on a fully taxable equivalent ("FTE") basis. In 1Q19, Citizens changed its quarterly presentation of net interest income and net interest margin (NIM). Consistent with our understanding of general peer practice, the Company simplified the calculation of its reported NIM to equal net interest income, annualized based on the actual number of days in the period, divided by average total interest earning assets for the period. Under the Company’s prior methodology, NIM was calculated using the difference between the annualized yield on average total interest-earning assets and total interest-bearing liabilities for the period. The Company also began presenting both net interest income and NIM on an FTE basis. Prior periods have been revised consistent with the current presentation. Beginning in the first quarter of 2019, borrowed funds balances and the associated interest expense are based on original maturity. Prior periods have been adjusted to conform with the current period presentation. References to “Underlying results before the impact of Acquisitions” exclude the impact of acquisitions occurring after 2Q18 and notable items, as applicable. Throughout this presentation, references to consolidated and/or commercial loans and loan growth include leases. Loans held for sale are also referred to as LHFS. Select totals may not sum due to rounding. Current period regulatory capital ratios are preliminary. Any mention of EPS refers to diluted EPS. Throughout this presentation, references to balance sheet items are on an average basis and loans exclude held for sale unless otherwise noted. Notes on slide 16 – Key messages See above note on key performance metrics and non-GAAP financial measures. See above general note f). Notes on slide 18 – Year-over-Year results See above note on key performance metrics and non-GAAP financial measures. Notes on slide 19 – 3Q19 YTD Underlying financial summary See above note on key performance metrics and non-GAAP financial measures. Notes on slide 20 – Notable items See above note on key performance metrics and non-GAAP financial measures. Notes

EX-99.3

Exhibit 99.3 Financial Supplement Third Quarter 2019 1Exhibit 99.3 Financial Supplement Third Quarter 2019 1

Table of Contents Page Consolidated Financial Highlights 3 Consolidated Statements of Operations (unaudited) 5 Consolidated Balance Sheets (unaudited) 6 Loans and Deposits 7 Average Balance Sheets 8 Average Annualized Yields and Rates 9 Segment Financial Highlights 10 Credit-Related Information: Nonperforming Assets 17 Charge-offs, Recoveries and Related Ratios 18 Summary of Changes in the Components of the Allowance for Credit Losses 20 Capital and Ratios 21 Key Performance Metrics, Non-GAAP Financial Measures and Reconciliations 22 The information in this Financial Supplement is preliminary and based on company data available at the time of the earnings presentation.  It speaks only as of the particular date or dates included in the accompanying pages.  The Company does not undertake an obligation to, and disclaims any duty to, update any of the information provided.  Any forward-looking statements in this Financial Supplement are subject to the forward- looking statements language contained in the Company’s reports filed with the SEC pursuant to the Securities Exchange Act of 1934, which can be found on the SEC’s website (www.sec.gov) or on the Company’s website (www.citizensbank.com). The Company’s future financial performance is subject to the risks and uncertainties described in its SEC filings. 2Table of Contents Page Consolidated Financial Highlights 3 Consolidated Statements of Operations (unaudited) 5 Consolidated Balance Sheets (unaudited) 6 Loans and Deposits 7 Average Balance Sheets 8 Average Annualized Yields and Rates 9 Segment Financial Highlights 10 Credit-Related Information: Nonperforming Assets 17 Charge-offs, Recoveries and Related Ratios 18 Summary of Changes in the Components of the Allowance for Credit Losses 20 Capital and Ratios 21 Key Performance Metrics, Non-GAAP Financial Measures and Reconciliations 22 The information in this Financial Supplement is preliminary and based on company data available at the time of the earnings presentation. It speaks only as of the particular date or dates included in the accompanying pages. The Company does not undertake an obligation to, and disclaims any duty to, update any of the information provided. Any forward-looking statements in this Financial Supplement are subject to the forward- looking statements language contained in the Company’s reports filed with the SEC pursuant to the Securities Exchange Act of 1934, which can be found on the SEC’s website (www.sec.gov) or on the Company’s website (www.citizensbank.com). The Company’s future financial performance is subject to the risks and uncertainties described in its SEC filings. 2

CONSOLIDATED FINANCIAL HIGHLIGHTS (in millions, except share, per-share and ratio data) QUARTERLY TRENDS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 3Q19 Change 2019 Change 3Q19 2Q19 1Q19 4Q18 3Q18 2Q19 3Q18 2019 2018 2018 $/bps % $/bps % $/bps % SELECTED OPERATING DATA Total revenue $1,638 $1,628 $1,588 $1,593 $1,564 $10 1% $74 5% $4,854 $4,535 $319 7% Noninterest expense 973 951 937 951 910 22 2 63 7 2,861 2,668 193 7 Profit before provision for credit losses 665 677 651 642 654 (12) (2) 11 2 1,993 1,867 126 7 Provision for credit losses 101 97 85 85 78 4 4 23 29 283 241 42 17 NET INCOME 449 453 439 465 443 (4) (1) 6 1 1,341 1,256 85 7 1 Net income, Underlying 453 458 443 474 450 (5) (1) 3 1 1,354 1,263 91 7 Net income available to common stockholders 432 435 424 450 436 (3) (1) (4) (1) 1,291 1,242 49 4 Net income available to common 1 436 440 428 459 443 (4) (1) (7) (2) 1,304 1,249 55 4 stockholders, Underlying PER COMMON SHARE DATA Basic earnings $0.97 $0.95 $0.92 $0.96 $0.92 $0.02 2% $0.05 5% $2.84 $2.57 $0.27 11% Diluted earnings 0.97 0.95 0.92 0.96 0.91 0.02 2 0.06 7 2.83 2.57 0.26 10 1 Basic earnings, Underlying 0.98 0.96 0.93 0.98 0.93 0.02 2 0.05 5 2.87 2.59 0.28 11 1 Diluted earnings, Underlying 0.98 0.96 0.93 0.98 0.93 0.02 2 0.05 5 2.86 2.58 0.28 11 Cash dividends declared and paid per common share 0.36 0.32 0.32 0.27 0.27 0.04 13 0.09 33 1.00 0.71 0.29 41 Book value per common share 46.67 45.61 44.24 42.87 41.62 1.06 2 5.05 12 46.67 41.62 5.05 12 Tangible book value per common share 31.48 30.88 29.60 28.73 27.66 0.60 2 3.82 14 31.48 27.66 3.82 14 Dividend payout ratio 37% 34% 35% 28% 29% 300 bps 800 bps 35% 28% 700 bps 1 Dividend payout ratio, Underlying 37 33 34 27 29 400 bps 800 bps 35 27 800 bps COMMON SHARES OUTSTANDING Average: Basic 445,703,987 458,154,335 460,713,172 467,338,825 475,957,526 (12,450,348) (3%) (30,253,539) (6%) 454,802,186 482,691,884 (27,889,698) (6%) Diluted 447,134,595 459,304,224 462,520,680 469,103,134 477,599,917 (12,169,629) (3) (30,465,322) (6) 456,218,755 484,250,843 (28,032,088) (6) Common shares at period-end 443,913,525 457,903,826 461,116,723 466,007,984 474,120,616 (13,990,301) (3) (30,207,091) (6) 443,913,525 474,120,616 (30,207,091) (6) SHARE PRICE High $38.06 $36.89 $37.73 $39.69 $41.76 $1.17 3% ($3.70) (9%) $38.06 $48.23 ($10.17) (21%) Low 31.34 32.36 29.26 27.62 38.47 (1.02) (3) (7.13) (19) 29.26 38.47 (9.21) (24) Close 35.37 35.36 32.50 29.73 38.57 0.01 — (3.20) (8) 35.37 38.57 (3.20) (8) Market capitalization 15,701 16,191 14,986 13,854 18,287 (490) (3) (2,586) (14) 15,701 18,287 (2,586) (14) SEGMENT NET INCOME Consumer Banking $251 $213 $202 $193 $207 $38 18% $44 21% $666 $574 $92 16% Commercial Banking 196 216 227 241 234 (20) (9) (38) (16) 639 686 (47) (7) Other 2 24 10 31 2 (22) (92) — — 36 (4) 40 NM NET INCOME $449 $453 $439 $465 $443 ($4) (1%) $6 1% $1,341 $1,256 $85 7% 1 These are non-GAAP financial measures. For further information on these measures, refer to Key Performance Metrics, Non-GAAP Financial Measures and Reconciliations at the end of this document. 3CONSOLIDATED FINANCIAL HIGHLIGHTS (in millions, except share, per-share and ratio data) QUARTERLY TRENDS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 3Q19 Change 2019 Change 3Q19 2Q19 1Q19 4Q18 3Q18 2Q19 3Q18 2019 2018 2018 $/bps % $/bps % $/bps % SELECTED OPERATING DATA Total revenue $1,638 $1,628 $1,588 $1,593 $1,564 $10 1% $74 5% $4,854 $4,535 $319 7% Noninterest expense 973 951 937 951 910 22 2 63 7 2,861 2,668 193 7 Profit before provision for credit losses 665 677 651 642 654 (12) (2) 11 2 1,993 1,867 126 7 Provision for credit losses 101 97 85 85 78 4 4 23 29 283 241 42 17 NET INCOME 449 453 439 465 443 (4) (1) 6 1 1,341 1,256 85 7 1 Net income, Underlying 453 458 443 474 450 (5) (1) 3 1 1,354 1,263 91 7 Net income available to common stockholders 432 435 424 450 436 (3) (1) (4) (1) 1,291 1,242 49 4 Net income available to common 1 436 440 428 459 443 (4) (1) (7) (2) 1,304 1,249 55 4 stockholders, Underlying PER COMMON SHARE DATA Basic earnings $0.97 $0.95 $0.92 $0.96 $0.92 $0.02 2% $0.05 5% $2.84 $2.57 $0.27 11% Diluted earnings 0.97 0.95 0.92 0.96 0.91 0.02 2 0.06 7 2.83 2.57 0.26 10 1 Basic earnings, Underlying 0.98 0.96 0.93 0.98 0.93 0.02 2 0.05 5 2.87 2.59 0.28 11 1 Diluted earnings, Underlying 0.98 0.96 0.93 0.98 0.93 0.02 2 0.05 5 2.86 2.58 0.28 11 Cash dividends declared and paid per common share 0.36 0.32 0.32 0.27 0.27 0.04 13 0.09 33 1.00 0.71 0.29 41 Book value per common share 46.67 45.61 44.24 42.87 41.62 1.06 2 5.05 12 46.67 41.62 5.05 12 Tangible book value per common share 31.48 30.88 29.60 28.73 27.66 0.60 2 3.82 14 31.48 27.66 3.82 14 Dividend payout ratio 37% 34% 35% 28% 29% 300 bps 800 bps 35% 28% 700 bps 1 Dividend payout ratio, Underlying 37 33 34 27 29 400 bps 800 bps 35 27 800 bps COMMON SHARES OUTSTANDING Average: Basic 445,703,987 458,154,335 460,713,172 467,338,825 475,957,526 (12,450,348) (3%) (30,253,539) (6%) 454,802,186 482,691,884 (27,889,698) (6%) Diluted 447,134,595 459,304,224 462,520,680 469,103,134 477,599,917 (12,169,629) (3) (30,465,322) (6) 456,218,755 484,250,843 (28,032,088) (6) Common shares at period-end 443,913,525 457,903,826 461,116,723 466,007,984 474,120,616 (13,990,301) (3) (30,207,091) (6) 443,913,525 474,120,616 (30,207,091) (6) SHARE PRICE High $38.06 $36.89 $37.73 $39.69 $41.76 $1.17 3% ($3.70) (9%) $38.06 $48.23 ($10.17) (21%) Low 31.34 32.36 29.26 27.62 38.47 (1.02) (3) (7.13) (19) 29.26 38.47 (9.21) (24) Close 35.37 35.36 32.50 29.73 38.57 0.01 — (3.20) (8) 35.37 38.57 (3.20) (8) Market capitalization 15,701 16,191 14,986 13,854 18,287 (490) (3) (2,586) (14) 15,701 18,287 (2,586) (14) SEGMENT NET INCOME Consumer Banking $251 $213 $202 $193 $207 $38 18% $44 21% $666 $574 $92 16% Commercial Banking 196 216 227 241 234 (20) (9) (38) (16) 639 686 (47) (7) Other 2 24 10 31 2 (22) (92) — — 36 (4) 40 NM NET INCOME $449 $453 $439 $465 $443 ($4) (1%) $6 1% $1,341 $1,256 $85 7% 1 These are non-GAAP financial measures. For further information on these measures, refer to Key Performance Metrics, Non-GAAP Financial Measures and Reconciliations at the end of this document. 3

CONSOLIDATED FINANCIAL HIGHLIGHTS, CONTINUED (in millions, except ratio and headcount data) QUARTERLY TRENDS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 3Q19 Change 2019 Change 3Q19 2Q19 1Q19 4Q18 3Q18 2Q19 3Q18 2019 2018 2018 $/bps % $/bps % $/bps % FINANCIAL RATIOS 1 Net interest margin 3.10% 3.20% 3.23% 3.23% 3.20% (10) bps (10) bps 3.18% 3.20% (2) bps 2 Net interest margin, FTE 3.12 3.21 3.25 3.25 3.22 (9) bps (10) bps 3.19 3.21 (2) bps Return on average common equity 8.35 8.54 8.62 9.16 8.82 (19) bps (47) bps 8.50 8.44 6 bps 3 Return on average common equity, Underlying 8.45 8.63 8.71 9.33 8.96 (18) bps (51) bps 8.59 8.48 11 bps Return on average tangible common equity 12.44 12.75 13.00 13.85 13.29 (31) bps (85) bps 12.72 12.64 8 bps Return on average tangible common equity, 3 Underlying 12.58 12.89 13.12 14.11 13.50 (31) bps (92) bps 12.86 12.71 15 bps Return on average total assets 1.10 1.13 1.11 1.17 1.13 (3) bps (3) bps 1.11 1.09 2 bps 3 Return on average total assets, Underlying 1.11 1.14 1.12 1.19 1.15 (3) bps (4) bps 1.12 1.10 2 bps Return on average total tangible assets 1.15 1.17 1.16 1.22 1.18 (2) bps (3) bps 1.16 1.14 2 bps 3 Return on average total tangible assets, Underlying 1.16 1.19 1.17 1.24 1.20 (3) bps (4) bps 1.17 1.15 2 bps Effective income tax rate 20.46 21.86 22.42 16.45 23.16 (140) bps (270) bps 21.58 22.77 (119) bps 3 Effective income tax rate, Underlying 22.29 21.89 22.44 21.91 23.20 40 bps (91) bps 22.20 22.78 (58) bps Efficiency ratio 59.40 58.41 59.00 59.69 58.20 99 bps 120 bps 58.94 58.84 10 bps 3 Efficiency ratio, Underlying 58.22 58.02 58.67 56.70 57.62 20 bps 60 bps 58.30 58.64 (34) bps Noninterest income as a % of total revenue 30% 28% 27% 26% 27% 200 bps 300 bps 29% 26% 300 bps CAPITAL RATIOS - PERIOD-END (PRELIMINARY) CET1 capital ratio 10.3% 10.5% 10.5% 10.6% 10.8% Tier 1 capital ratio 11.1 11.3 11.3 11.3 11.2 Total capital ratio 13.0 13.4 13.4 13.3 13.4 Tier 1 leverage ratio 9.9 10.1 10.0 10.0 9.9 SELECTED BALANCE SHEET DATA (PERIOD-END) Total assets $164,362 $162,749 $161,342 $160,518 $158,598 $1,613 1% $5,764 4% $164,362 $158,598 $5,764 4% Loans and leases: Commercial 56,733 56,963 57,689 56,783 55,405 (230) — 1,328 2 56,733 55,405 1,328 2 Retail 61,147 59,875 59,926 59,877 59,315 1,272 2 1,832 3 61,147 59,315 1,832 3 Total loans and leases 117,880 116,838 117,615 116,660 114,720 1,042 1 3,160 3 117,880 114,720 3,160 3 Deposits 124,714 124,004 123,916 119,575 117,075 710 1 7,639 7 124,714 117,075 7,639 7 4 Long-term borrowed funds 12,806 11,538 11,725 15,925 17,133 1,268 11 (4,327) (25) 12,806 17,133 (4,327) (25) Total stockholders' equity 21,851 22,017 21,531 20,817 20,276 (166) (1) 1,575 8 21,851 20,276 1,575 8 Loans-to-deposits ratio (period-end balances) 94.52% 94.22% 94.92% 97.56% 97.99% 30 bps (347) bps 94.52% 97.99% (347) bps Loans-to-deposits ratio (average balances) 94.62 95.64 97.70 98.41 97.38 (102) bps (276) bps 95.96 97.78 (182) bps Full-time equivalent colleagues 18,116 18,207 18,078 18,140 18,332 (91) — (216) (1) 18,116 18,332 (216) (1) 1 Beginning in the first quarter of 2019, we changed the method of calculating our net interest margin to equal net interest income, annualized based on the number of days in the period, divided by average total interest-earning assets. Prior periods have been adjusted to conform with the current period presentation. 2 Net interest income and net interest margin is presented on a fully taxable-equivalent ( FTE ) basis using the federal statutory tax rate of 21%. The FTE impact is predominantly attributable to commercial loans for the periods presented. 3 These are non-GAAP financial measures. For further information on these measures, refer to Key Performance Metrics, Non-GAAP Financial Measures and Reconciliations at the end of this document. 4 Beginning in the first quarter of 2019, borrowed funds balances and the associated interest expense are based on original maturity. Prior periods have been adjusted to conform with the current period presentation. 4CONSOLIDATED FINANCIAL HIGHLIGHTS, CONTINUED (in millions, except ratio and headcount data) QUARTERLY TRENDS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 3Q19 Change 2019 Change 3Q19 2Q19 1Q19 4Q18 3Q18 2Q19 3Q18 2019 2018 2018 $/bps % $/bps % $/bps % FINANCIAL RATIOS 1 Net interest margin 3.10% 3.20% 3.23% 3.23% 3.20% (10) bps (10) bps 3.18% 3.20% (2) bps 2 Net interest margin, FTE 3.12 3.21 3.25 3.25 3.22 (9) bps (10) bps 3.19 3.21 (2) bps Return on average common equity 8.35 8.54 8.62 9.16 8.82 (19) bps (47) bps 8.50 8.44 6 bps 3 Return on average common equity, Underlying 8.45 8.63 8.71 9.33 8.96 (18) bps (51) bps 8.59 8.48 11 bps Return on average tangible common equity 12.44 12.75 13.00 13.85 13.29 (31) bps (85) bps 12.72 12.64 8 bps Return on average tangible common equity, 3 Underlying 12.58 12.89 13.12 14.11 13.50 (31) bps (92) bps 12.86 12.71 15 bps Return on average total assets 1.10 1.13 1.11 1.17 1.13 (3) bps (3) bps 1.11 1.09 2 bps 3 Return on average total assets, Underlying 1.11 1.14 1.12 1.19 1.15 (3) bps (4) bps 1.12 1.10 2 bps Return on average total tangible assets 1.15 1.17 1.16 1.22 1.18 (2) bps (3) bps 1.16 1.14 2 bps 3 Return on average total tangible assets, Underlying 1.16 1.19 1.17 1.24 1.20 (3) bps (4) bps 1.17 1.15 2 bps Effective income tax rate 20.46 21.86 22.42 16.45 23.16 (140) bps (270) bps 21.58 22.77 (119) bps 3 Effective income tax rate, Underlying 22.29 21.89 22.44 21.91 23.20 40 bps (91) bps 22.20 22.78 (58) bps Efficiency ratio 59.40 58.41 59.00 59.69 58.20 99 bps 120 bps 58.94 58.84 10 bps 3 Efficiency ratio, Underlying 58.22 58.02 58.67 56.70 57.62 20 bps 60 bps 58.30 58.64 (34) bps Noninterest income as a % of total revenue 30% 28% 27% 26% 27% 200 bps 300 bps 29% 26% 300 bps CAPITAL RATIOS - PERIOD-END (PRELIMINARY) CET1 capital ratio 10.3% 10.5% 10.5% 10.6% 10.8% Tier 1 capital ratio 11.1 11.3 11.3 11.3 11.2 Total capital ratio 13.0 13.4 13.4 13.3 13.4 Tier 1 leverage ratio 9.9 10.1 10.0 10.0 9.9 SELECTED BALANCE SHEET DATA (PERIOD-END) Total assets $164,362 $162,749 $161,342 $160,518 $158,598 $1,613 1% $5,764 4% $164,362 $158,598 $5,764 4% Loans and leases: Commercial 56,733 56,963 57,689 56,783 55,405 (230) — 1,328 2 56,733 55,405 1,328 2 Retail 61,147 59,875 59,926 59,877 59,315 1,272 2 1,832 3 61,147 59,315 1,832 3 Total loans and leases 117,880 116,838 117,615 116,660 114,720 1,042 1 3,160 3 117,880 114,720 3,160 3 Deposits 124,714 124,004 123,916 119,575 117,075 710 1 7,639 7 124,714 117,075 7,639 7 4 Long-term borrowed funds 12,806 11,538 11,725 15,925 17,133 1,268 11 (4,327) (25) 12,806 17,133 (4,327) (25) Total stockholders' equity 21,851 22,017 21,531 20,817 20,276 (166) (1) 1,575 8 21,851 20,276 1,575 8 Loans-to-deposits ratio (period-end balances) 94.52% 94.22% 94.92% 97.56% 97.99% 30 bps (347) bps 94.52% 97.99% (347) bps Loans-to-deposits ratio (average balances) 94.62 95.64 97.70 98.41 97.38 (102) bps (276) bps 95.96 97.78 (182) bps Full-time equivalent colleagues 18,116 18,207 18,078 18,140 18,332 (91) — (216) (1) 18,116 18,332 (216) (1) 1 Beginning in the first quarter of 2019, we changed the method of calculating our net interest margin to equal net interest income, annualized based on the number of days in the period, divided by average total interest-earning assets. Prior periods have been adjusted to conform with the current period presentation. 2 Net interest income and net interest margin is presented on a fully taxable-equivalent ( FTE ) basis using the federal statutory tax rate of 21%. The FTE impact is predominantly attributable to commercial loans for the periods presented. 3 These are non-GAAP financial measures. For further information on these measures, refer to Key Performance Metrics, Non-GAAP Financial Measures and Reconciliations at the end of this document. 4 Beginning in the first quarter of 2019, borrowed funds balances and the associated interest expense are based on original maturity. Prior periods have been adjusted to conform with the current period presentation. 4

CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) (in millions) QUARTERLY TRENDS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 3Q19 Change 2019 Change 3Q19 2Q19 1Q19 4Q18 3Q18 2Q19 3Q18 2019 2018 2018 $ % $ % $ % INTEREST INCOME Interest and fees on loans and leases $1,356 $1,392 $1,381 $1,347 $1,287 ($36) (3%) $69 5% $4,129 $3,663 $466 13% Interest and fees on loans held for sale 19 15 11 14 14 4 27 5 36 45 23 22 96 Interest and fees on other loans held for sale 2 2 4 1 2 — — — — 8 9 (1) (11) Investment securities 153 164 166 172 167 (11) (7) (14) (8) 483 500 (17) (3) Interest-bearing deposits in banks 8 7 8 8 7 1 14 1 14 23 21 2 10 Total interest income 1,538 1,580 1,570 1,542 1,477 (42) (3) 61 4 4,688 4,216 472 11 INTEREST EXPENSE Deposits 297 308 287 245 214 (11) (4) 83 39 892 540 352 65 Federal funds purchased and securities sold under agreements to repurchase 2 3 2 2 2 (1) (33) — — 7 4 3 75 1 Other short-term borrowed funds — 1 — 2 4 (1) (100) (4) (100) 1 7 (6) (86) 1 Long-term borrowed funds 94 102 121 121 109 (8) (8) (15) (14) 317 305 12 4 Total interest expense 393 414 410 370 329 (21) (5) 64 19 1,217 856 361 42 Net interest income 1,145 1,166 1,160 1,172 1,148 (21) (2) (3) — 3,471 3,360 111 3 NONINTEREST INCOME Service charges and fees 128 126 123 131 131 2 2 (3) (2) 377 382 (5) (1) Card fees 67 64 59 62 61 3 5 6 10 190 182 8 4 Capital markets fees 39 57 54 45 47 (18) (32) (8) (17) 150 134 16 12 Trust and investment services fees 50 53 47 43 45 (3) (6) 5 11 150 128 22 17 Mortgage banking fees 117 62 43 51 49 55 89 68 139 222 101 121 120 Letter of credit and loan fees 34 33 33 34 32 1 3 2 6 100 94 6 6 Foreign exchange and interest rate products 35 35 36 34 31 — — 4 13 106 92 14 15 Securities gains, net 3 4 8 6 3 (1) (25) — — 15 13 2 15 Other income 20 28 25 15 17 (8) (29) 3 18 73 49 24 49 Total noninterest income 493 462 428 421 416 31 7 77 19 1,383 1,175 208 18 TOTAL REVENUE 1,638 1,628 1,588 1,593 1,564 10 1 74 5 4,854 4,535 319 7 Provision for credit losses 101 97 85 85 78 4 4 23 29 283 241 42 17 NONINTEREST EXPENSE Salaries and employee benefits 508 507 509 483 474 1 — 34 7 1,524 1,397 127 9 2 Equipment and software expense 130 126 125 124 117 4 3 13 11 381 340 41 12 Outside services 128 118 110 135 107 10 8 21 20 356 312 44 14 Occupancy 80 82 83 92 81 (2) (2) (1) (1) 245 241 4 2 Other operating expense 127 118 110 117 131 9 8 (4) (3) 355 378 (23) (6) Total noninterest expense 973 951 937 951 910 22 2 63 7 2,861 2,668 193 7 Income before income tax expense 564 580 566 557 576 (16) (3) (12) (2) 1,710 1,626 84 5 Income tax expense 115 127 127 92 133 (12) (9) (18) (14) 369 370 (1) — Net income $449 $453 $439 $465 $443 ($4) (1%) $6 1% $1,341 $1,256 $85 7% 3 Net income, Underlying $453 $458 $443 $474 $450 ($5) (1%) $3 1% $1,354 $1,263 $91 7% Net income available to common stockholders $432 $435 $424 $450 $436 ($3) (1%) ($4) (1%) $1,291 $1,242 $49 4% 3 Net income available to common stockholders, Underlying $436 $440 $428 $459 $443 ($4) (1%) ($7) (2%) $1,304 $1,249 $55 4% 1 Beginning in the first quarter of 2019, borrowed funds balances and the associated interest expense are based on original maturity. Prior periods have been adjusted to conform with the current period presentation. 2 Beginning in the first quarter of 2019, we combined our presentation of equipment expense and amortization of software into equipment and software expense. Prior periods have been adjusted to conform with the current period presentation. 3 These are non-GAAP financial measures. For further information on these measures, refer to Key Performance Metrics, Non-GAAP Financial Measures and Reconciliations at the end of this document. 5CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) (in millions) QUARTERLY TRENDS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 3Q19 Change 2019 Change 3Q19 2Q19 1Q19 4Q18 3Q18 2Q19 3Q18 2019 2018 2018 $ % $ % $ % INTEREST INCOME Interest and fees on loans and leases $1,356 $1,392 $1,381 $1,347 $1,287 ($36) (3%) $69 5% $4,129 $3,663 $466 13% Interest and fees on loans held for sale 19 15 11 14 14 4 27 5 36 45 23 22 96 Interest and fees on other loans held for sale 2 2 4 1 2 — — — — 8 9 (1) (11) Investment securities 153 164 166 172 167 (11) (7) (14) (8) 483 500 (17) (3) Interest-bearing deposits in banks 8 7 8 8 7 1 14 1 14 23 21 2 10 Total interest income 1,538 1,580 1,570 1,542 1,477 (42) (3) 61 4 4,688 4,216 472 11 INTEREST EXPENSE Deposits 297 308 287 245 214 (11) (4) 83 39 892 540 352 65 Federal funds purchased and securities sold under agreements to repurchase 2 3 2 2 2 (1) (33) — — 7 4 3 75 1 Other short-term borrowed funds — 1 — 2 4 (1) (100) (4) (100) 1 7 (6) (86) 1 Long-term borrowed funds 94 102 121 121 109 (8) (8) (15) (14) 317 305 12 4 Total interest expense 393 414 410 370 329 (21) (5) 64 19 1,217 856 361 42 Net interest income 1,145 1,166 1,160 1,172 1,148 (21) (2) (3) — 3,471 3,360 111 3 NONINTEREST INCOME Service charges and fees 128 126 123 131 131 2 2 (3) (2) 377 382 (5) (1) Card fees 67 64 59 62 61 3 5 6 10 190 182 8 4 Capital markets fees 39 57 54 45 47 (18) (32) (8) (17) 150 134 16 12 Trust and investment services fees 50 53 47 43 45 (3) (6) 5 11 150 128 22 17 Mortgage banking fees 117 62 43 51 49 55 89 68 139 222 101 121 120 Letter of credit and loan fees 34 33 33 34 32 1 3 2 6 100 94 6 6 Foreign exchange and interest rate products 35 35 36 34 31 — — 4 13 106 92 14 15 Securities gains, net 3 4 8 6 3 (1) (25) — — 15 13 2 15 Other income 20 28 25 15 17 (8) (29) 3 18 73 49 24 49 Total noninterest income 493 462 428 421 416 31 7 77 19 1,383 1,175 208 18 TOTAL REVENUE 1,638 1,628 1,588 1,593 1,564 10 1 74 5 4,854 4,535 319 7 Provision for credit losses 101 97 85 85 78 4 4 23 29 283 241 42 17 NONINTEREST EXPENSE Salaries and employee benefits 508 507 509 483 474 1 — 34 7 1,524 1,397 127 9 2 Equipment and software expense 130 126 125 124 117 4 3 13 11 381 340 41 12 Outside services 128 118 110 135 107 10 8 21 20 356 312 44 14 Occupancy 80 82 83 92 81 (2) (2) (1) (1) 245 241 4 2 Other operating expense 127 118 110 117 131 9 8 (4) (3) 355 378 (23) (6) Total noninterest expense 973 951 937 951 910 22 2 63 7 2,861 2,668 193 7 Income before income tax expense 564 580 566 557 576 (16) (3) (12) (2) 1,710 1,626 84 5 Income tax expense 115 127 127 92 133 (12) (9) (18) (14) 369 370 (1) — Net income $449 $453 $439 $465 $443 ($4) (1%) $6 1% $1,341 $1,256 $85 7% 3 Net income, Underlying $453 $458 $443 $474 $450 ($5) (1%) $3 1% $1,354 $1,263 $91 7% Net income available to common stockholders $432 $435 $424 $450 $436 ($3) (1%) ($4) (1%) $1,291 $1,242 $49 4% 3 Net income available to common stockholders, Underlying $436 $440 $428 $459 $443 ($4) (1%) ($7) (2%) $1,304 $1,249 $55 4% 1 Beginning in the first quarter of 2019, borrowed funds balances and the associated interest expense are based on original maturity. Prior periods have been adjusted to conform with the current period presentation. 2 Beginning in the first quarter of 2019, we combined our presentation of equipment expense and amortization of software into equipment and software expense. Prior periods have been adjusted to conform with the current period presentation. 3 These are non-GAAP financial measures. For further information on these measures, refer to Key Performance Metrics, Non-GAAP Financial Measures and Reconciliations at the end of this document. 5

CONSOLIDATED BALANCE SHEETS (unaudited) (in millions) AS OF SEPTEMBER 30, 2019 CHANGE PERIOD-END BALANCES Sept 30, 2019 June 30, 2019 Mar 31, 2019 Dec 31, 2018 Sept 30, 2018 June 30, 2019 September 30, 2018 $ % $ % ASSETS Cash and due from banks $1,638 $996 $923 $1,081 $976 $642 64% $662 68% Interest-bearing cash and due from banks 2,204 2,039 1,513 2,993 3,015 165 8 (811) (27) Interest-bearing deposits in banks 158 186 167 148 142 (28) (15) 16 11 Debt securities available for sale, at fair value 21,502 21,698 21,504 19,895 20,152 (196) (1) 1,350 7 Debt securities held to maturity 3,319 3,447 3,345 4,165 4,284 (128) (4) (965) (23) Equity securities, at fair value 47 47 198 181 175 — — (128) (73) Equity securities, at cost 734 706 604 834 874 28 4 (140) (16) Loans held for sale, at fair value 1,993 1,750 1,186 1,219 1,303 243 14 690 53 Other loans held for sale 22 455 66 101 27 (433) (95) (5) (19) Loans and leases 117,880 116,838 117,615 116,660 114,720 1,042 1 3,160 3 Less: Allowance for loan and lease losses (1,263) (1,227) (1,245) (1,242) (1,242) (36) (3) (21) (2) Net loans and leases 116,617 115,611 116,370 115,418 113,478 1,006 1 3,139 3 Derivative assets 1,027 833 465 317 173 194 23 854 NM Premises and equipment 747 740 746 791 753 7 1 (6) (1) Bank-owned life insurance 1,720 1,711 1,705 1,698 1,687 9 1 33 2 Goodwill 7,044 7,040 7,040 6,923 6,946 4 — 98 1 Due from broker 257 249 92 — — 8 3 257 100 Other assets 5,333 5,241 5,418 4,754 4,613 92 2 720 16 TOTAL ASSETS $164,362 $162,749 $161,342 $160,518 $158,598 $1,613 1% $5,764 4% LIABILITIES AND STOCKHOLDERS' EQUITY LIABILITIES Deposits: Noninterest-bearing $29,939 $28,192 $28,383 $29,458 $29,785 $1,747 6% $154 1% Interest-bearing 94,775 95,812 95,533 90,117 87,290 (1,037) (1) 7,485 9 Total deposits 124,714 124,004 123,916 119,575 117,075 710 1 7,639 7 1 Federal funds purchased and securities sold under agreements to repurchase 867 1,132 668 1,156 374 (265) (23) 493 132 2 Other short-term borrowed funds 210 309 11 161 512 (99) (32) (302) (59) Derivative liabilities 161 106 173 292 449 55 52 (288) (64) Deferred taxes, net 752 767 676 573 430 (15) (2) 322 75 2 Long-term borrowed funds 12,806 11,538 11,725 15,925 17,133 1,268 11 (4,327) (25) Due to broker 206 257 93 — 381 (51) (20) (175) (46) Other liabilities 2,795 2,619 2,549 2,019 1,968 176 7 827 42 TOTAL LIABILITIES 142,511 140,732 139,811 139,701 138,322 1,779 1 4,189 3 STOCKHOLDERS' EQUITY Preferred stock: $25.00 par value, 100,000,000 shares authorized for each of the periods presented 1,133 1,133 1,132 840 543 — — 590 109 Common stock: $0.01 par value, 1,000,000,000 shares authorized for each of the periods 6 6 6 6 6 — — — — Additional paid-in capital 18,876 18,860 18,847 18,815 18,816 16 — 60 — Retained earnings 6,229 5,959 5,672 5,385 5,062 270 5 1,167 23 Treasury stock, at cost (3,953) (3,453) (3,333) (3,133) (2,833) (500) (14) (1,120) (40) Accumulated other comprehensive loss (440) (488) (793) (1,096) (1,318) 48 10 878 67 TOTAL STOCKHOLDERS' EQUITY 21,851 22,017 21,531 20,817 20,276 (166) (1) 1,575 8 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $164,362 $162,749 $161,342 $160,518 $158,598 $1,613 1% $5,764 4% Memo: Total tangible common equity $13,976 $14,141 $13,649 $13,389 $13,117 ($165) (1%) $859 7% 1 Balances are net of certain short-term receivables associated with reverse repurchase agreements. 2 Beginning in the first quarter of 2019, borrowed funds balances and the associated interest expense are based on original maturity. Prior periods have been adjusted to conform with the current period presentation. 6CONSOLIDATED BALANCE SHEETS (unaudited) (in millions) AS OF SEPTEMBER 30, 2019 CHANGE PERIOD-END BALANCES Sept 30, 2019 June 30, 2019 Mar 31, 2019 Dec 31, 2018 Sept 30, 2018 June 30, 2019 September 30, 2018 $ % $ % ASSETS Cash and due from banks $1,638 $996 $923 $1,081 $976 $642 64% $662 68% Interest-bearing cash and due from banks 2,204 2,039 1,513 2,993 3,015 165 8 (811) (27) Interest-bearing deposits in banks 158 186 167 148 142 (28) (15) 16 11 Debt securities available for sale, at fair value 21,502 21,698 21,504 19,895 20,152 (196) (1) 1,350 7 Debt securities held to maturity 3,319 3,447 3,345 4,165 4,284 (128) (4) (965) (23) Equity securities, at fair value 47 47 198 181 175 — — (128) (73) Equity securities, at cost 734 706 604 834 874 28 4 (140) (16) Loans held for sale, at fair value 1,993 1,750 1,186 1,219 1,303 243 14 690 53 Other loans held for sale 22 455 66 101 27 (433) (95) (5) (19) Loans and leases 117,880 116,838 117,615 116,660 114,720 1,042 1 3,160 3 Less: Allowance for loan and lease losses (1,263) (1,227) (1,245) (1,242) (1,242) (36) (3) (21) (2) Net loans and leases 116,617 115,611 116,370 115,418 113,478 1,006 1 3,139 3 Derivative assets 1,027 833 465 317 173 194 23 854 NM Premises and equipment 747 740 746 791 753 7 1 (6) (1) Bank-owned life insurance 1,720 1,711 1,705 1,698 1,687 9 1 33 2 Goodwill 7,044 7,040 7,040 6,923 6,946 4 — 98 1 Due from broker 257 249 92 — — 8 3 257 100 Other assets 5,333 5,241 5,418 4,754 4,613 92 2 720 16 TOTAL ASSETS $164,362 $162,749 $161,342 $160,518 $158,598 $1,613 1% $5,764 4% LIABILITIES AND STOCKHOLDERS' EQUITY LIABILITIES Deposits: Noninterest-bearing $29,939 $28,192 $28,383 $29,458 $29,785 $1,747 6% $154 1% Interest-bearing 94,775 95,812 95,533 90,117 87,290 (1,037) (1) 7,485 9 Total deposits 124,714 124,004 123,916 119,575 117,075 710 1 7,639 7 1 Federal funds purchased and securities sold under agreements to repurchase 867 1,132 668 1,156 374 (265) (23) 493 132 2 Other short-term borrowed funds 210 309 11 161 512 (99) (32) (302) (59) Derivative liabilities 161 106 173 292 449 55 52 (288) (64) Deferred taxes, net 752 767 676 573 430 (15) (2) 322 75 2 Long-term borrowed funds 12,806 11,538 11,725 15,925 17,133 1,268 11 (4,327) (25) Due to broker 206 257 93 — 381 (51) (20) (175) (46) Other liabilities 2,795 2,619 2,549 2,019 1,968 176 7 827 42 TOTAL LIABILITIES 142,511 140,732 139,811 139,701 138,322 1,779 1 4,189 3 STOCKHOLDERS' EQUITY Preferred stock: $25.00 par value, 100,000,000 shares authorized for each of the periods presented 1,133 1,133 1,132 840 543 — — 590 109 Common stock: $0.01 par value, 1,000,000,000 shares authorized for each of the periods 6 6 6 6 6 — — — — Additional paid-in capital 18,876 18,860 18,847 18,815 18,816 16 — 60 — Retained earnings 6,229 5,959 5,672 5,385 5,062 270 5 1,167 23 Treasury stock, at cost (3,953) (3,453) (3,333) (3,133) (2,833) (500) (14) (1,120) (40) Accumulated other comprehensive loss (440) (488) (793) (1,096) (1,318) 48 10 878 67 TOTAL STOCKHOLDERS' EQUITY 21,851 22,017 21,531 20,817 20,276 (166) (1) 1,575 8 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $164,362 $162,749 $161,342 $160,518 $158,598 $1,613 1% $5,764 4% Memo: Total tangible common equity $13,976 $14,141 $13,649 $13,389 $13,117 ($165) (1%) $859 7% 1 Balances are net of certain short-term receivables associated with reverse repurchase agreements. 2 Beginning in the first quarter of 2019, borrowed funds balances and the associated interest expense are based on original maturity. Prior periods have been adjusted to conform with the current period presentation. 6

LOANS AND DEPOSITS (in millions) PERIOD-END BALANCES AS OF SEPTEMBER 30, 2019 CHANGE Sept 30, 2019 June 30, 2019 Mar 31, 2019 Dec 31, 2018 Sept 30, 2018 June 30, 2019 September 30, 2018 $ % $ % LOANS AND LEASES Commercial $41,356 $41,156 $41,497 $40,857 $39,770 $200 —% $1,586 4% Commercial real estate 12,820 13,123 13,372 13,023 12,630 (303) (2) 190 2 Leases 2,557 2,684 2,820 2,903 3,005 (127) (5) (448) (15) Total commercial loans and leases 56,733 56,963 57,689 56,783 55,405 (230) — 1,328 2 Residential mortgages 19,699 19,192 19,174 18,978 18,493 507 3 1,206 7 Home equity loans 876 938 1,006 1,073 1,131 (62) (7) (255) (23) Home equity lines of credit 12,148 12,266 12,394 12,710 12,863 (118) (1) (715) (6) 1 Home equity loans serviced by others 318 348 375 399 429 (30) (9) (111) (26) 1 Home equity lines of credit serviced by others 81 88 95 104 114 (7) (8) (33) (29) Automobile 12,070 12,000 11,992 12,106 12,255 70 1 (185) (2) Education 9,729 9,305 9,274 8,900 8,712 424 5 1,017 12 Credit card 2,133 2,046 1,982 1,991 1,911 87 4 222 12 Other retail 4,093 3,692 3,634 3,616 3,407 401 11 686 20 Total retail loans 61,147 59,875 59,926 59,877 59,315 1,272 2 1,832 3 Total loans and leases $117,880 $116,838 $117,615 $116,660 $114,720 $1,042 1% $3,160 3% Loans held for sale, at fair value 1,993 1,750 1,186 1,219 1,303 243 14 690 53 Other loans held for sale 22 455 66 101 27 (433) (95) (5) (19) Loans and leases and loans held for sale $119,895 $119,043 $118,867 $117,980 $116,050 $852 1% $3,845 3% DEPOSITS Demand $29,939 $28,192 $28,383 $29,458 $29,785 $1,747 6% $154 1% Checking with interest 24,403 25,021 23,482 23,067 22,323 (618) (2) 2,080 9 Regular savings 13,479 13,495 13,239 12,007 10,523 (16) — 2,956 28 Money market accounts 36,826 35,329 35,972 35,701 35,613 1,497 4 1,213 3 Term deposits 20,067 21,967 22,840 19,342 18,831 (1,900) (9) 1,236 7 Total deposits $124,714 $124,004 $123,916 $119,575 $117,075 $710 1% $7,639 7% 1 Our Serviced by Others ( SBO ) portfolio consists of purchased loans and lines of credit that were originally serviced by others. 7LOANS AND DEPOSITS (in millions) PERIOD-END BALANCES AS OF SEPTEMBER 30, 2019 CHANGE Sept 30, 2019 June 30, 2019 Mar 31, 2019 Dec 31, 2018 Sept 30, 2018 June 30, 2019 September 30, 2018 $ % $ % LOANS AND LEASES Commercial $41,356 $41,156 $41,497 $40,857 $39,770 $200 —% $1,586 4% Commercial real estate 12,820 13,123 13,372 13,023 12,630 (303) (2) 190 2 Leases 2,557 2,684 2,820 2,903 3,005 (127) (5) (448) (15) Total commercial loans and leases 56,733 56,963 57,689 56,783 55,405 (230) — 1,328 2 Residential mortgages 19,699 19,192 19,174 18,978 18,493 507 3 1,206 7 Home equity loans 876 938 1,006 1,073 1,131 (62) (7) (255) (23) Home equity lines of credit 12,148 12,266 12,394 12,710 12,863 (118) (1) (715) (6) 1 Home equity loans serviced by others 318 348 375 399 429 (30) (9) (111) (26) 1 Home equity lines of credit serviced by others 81 88 95 104 114 (7) (8) (33) (29) Automobile 12,070 12,000 11,992 12,106 12,255 70 1 (185) (2) Education 9,729 9,305 9,274 8,900 8,712 424 5 1,017 12 Credit card 2,133 2,046 1,982 1,991 1,911 87 4 222 12 Other retail 4,093 3,692 3,634 3,616 3,407 401 11 686 20 Total retail loans 61,147 59,875 59,926 59,877 59,315 1,272 2 1,832 3 Total loans and leases $117,880 $116,838 $117,615 $116,660 $114,720 $1,042 1% $3,160 3% Loans held for sale, at fair value 1,993 1,750 1,186 1,219 1,303 243 14 690 53 Other loans held for sale 22 455 66 101 27 (433) (95) (5) (19) Loans and leases and loans held for sale $119,895 $119,043 $118,867 $117,980 $116,050 $852 1% $3,845 3% DEPOSITS Demand $29,939 $28,192 $28,383 $29,458 $29,785 $1,747 6% $154 1% Checking with interest 24,403 25,021 23,482 23,067 22,323 (618) (2) 2,080 9 Regular savings 13,479 13,495 13,239 12,007 10,523 (16) — 2,956 28 Money market accounts 36,826 35,329 35,972 35,701 35,613 1,497 4 1,213 3 Term deposits 20,067 21,967 22,840 19,342 18,831 (1,900) (9) 1,236 7 Total deposits $124,714 $124,004 $123,916 $119,575 $117,075 $710 1% $7,639 7% 1 Our Serviced by Others ( SBO ) portfolio consists of purchased loans and lines of credit that were originally serviced by others. 7

AVERAGE BALANCE SHEETS (in millions) QUARTERLY TRENDS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 3Q19 Change 2019 Change 3Q19 2Q19 1Q19 4Q18 3Q18 2Q19 3Q18 2019 2018 2018 $ % $ % $ % ASSETS Interest-bearing cash and due from banks and deposits in banks $1,474 $1,229 $1,497 $1,467 $1,604 $245 20% ($130) (8%) $1,400 $1,616 ($216) (13%) Taxable investment securities 25,635 25,620 25,136 25,081 25,225 15 — 410 2 25,466 25,284 182 1 Non-taxable investment securities 5 5 5 5 6 — — (1) (17) 5 6 (1) (17) Total investment securities 25,640 25,625 25,141 25,086 25,231 15 — 409 2 25,471 25,290 181 1 Investment securities and interest-bearing deposits 27,114 26,854 26,638 26,553 26,835 260 1 279 1 26,871 26,906 (35) — Commercial 41,476 41,755 41,562 40,472 39,592 (279) (1) 1,884 5 41,597 38,990 2,607 7 Commercial real estate 12,892 13,379 13,272 12,900 12,656 (487) (4) 236 2 13,179 12,096 1,083 9 Leases 2,615 2,745 2,873 2,938 3,028 (130) (5) (413) (14) 2,744 3,071 (327) (11) Total commercial loans and leases 56,983 57,879 57,707 56,310 55,276 (896) (2) 1,707 3 57,520 54,157 3,363 6 Residential mortgages 19,405 19,232 19,094 18,713 18,147 173 1 1,258 7 19,245 17,603 1,642 9 Home equity loans 906 971 1,039 1,101 1,168 (65) (7) (262) (22) 971 1,253 (282) (23) Home equity lines of credit 12,182 12,332 12,552 12,790 12,925 (150) (1) (743) (6) 12,354 13,129 (775) (6) Home equity loans serviced by others 330 359 385 411 444 (29) (8) (114) (26) 358 481 (123) (26) Home equity lines of credit serviced by others 83 92 99 108 118 (9) (10) (35) (30) 91 130 (39) (30) Automobile 12,036 11,984 12,070 12,179 12,379 52 — (343) (3) 12,030 12,681 (651) (5) Education 9,459 9,235 9,069 8,801 8,481 224 2 978 12 9,256 8,380 876 10 Credit cards 2,103 2,041 1,998 1,973 1,909 62 3 194 10 2,048 1,864 184 10 Other retail 3,770 3,658 3,636 3,507 3,124 112 3 646 21 3,688 2,980 708 24 Total retail loans 60,274 59,904 59,942 59,583 58,695 370 1 1,579 3 60,041 58,501 1,540 3 Total loans and leases 117,257 117,783 117,649 115,893 113,971 (526) — 3,286 3 117,561 112,658 4,903 4 Loans held for sale, at fair value 1,970 1,528 1,035 1,245 1,228 442 29 742 60 1,514 709 805 114 Other loans held for sale 134 158 191 79 129 (24) (15) 5 4 161 193 (32) (17) Total interest-earning assets 146,475 146,323 145,513 143,770 142,163 152 — 4,312 3 146,107 140,466 5,641 4 Allowance for loan and lease losses (1,226) (1,247) (1,243) (1,241) (1,255) 21 2 29 2 (1,239) (1,246) 7 1 Goodwill 7,044 7,040 7,018 6,946 6,926 4 — 118 2 7,034 6,900 134 2 Other noninterest-earning assets 9,817 9,373 9,127 8,257 7,790 444 5 2,027 26 9,442 7,362 2,080 28 TOTAL ASSETS $162,110 $161,489 $160,415 $157,732 $155,624 $621 —% $6,486 4% $161,344 $153,482 $7,862 5% LIABILITIES AND STOCKHOLDERS' EQUITY LIABILITIES Checking with interest $23,422 $23,919 $22,987 $21,792 $21,780 ($497) (2%) $1,642 8% $23,444 $21,877 $1,567 7% Money market accounts 37,161 35,228 35,209 35,929 36,593 1,933 5 568 2 35,873 36,689 (816) (2) Regular savings 13,442 13,324 12,626 11,220 10,198 118 1 3,244 32 13,134 9,907 3,227 33 Term deposits 20,951 22,292 21,127 19,000 18,764 (1,341) (6) 2,187 12 21,456 17,710 3,746 21 Total interest-bearing deposits 94,976 94,763 91,949 87,941 87,335 213 — 7,641 9 93,907 86,183 7,724 9 Federal funds purchased and securities sold under agreements to 1 487 818 640 821 643 (331) (40) (156) (24) 648 598 50 8 repurchase 2 Other short-term borrowed funds 113 45 58 341 748 68 151 (635) (85) 72 509 (437) (86) 2 Long-term borrowed funds 12,134 12,386 14,736 15,573 14,284 (252) (2) (2,150) (15) 13,076 14,535 (1,459) (10) Total borrowed funds 12,734 13,249 15,434 16,735 15,675 (515) (4) (2,941) (19) 13,796 15,642 (1,846) (12) Total interest-bearing liabilities 107,710 108,012 107,383 104,676 103,010 (302) — 4,700 5 107,703 101,825 5,878 6 Total demand deposits 28,945 28,389 28,465 29,824 29,703 556 2 (758) (3) 28,601 29,031 (430) (1) Other liabilities 3,789 3,536 3,584 2,948 2,769 253 7 1,020 37 3,637 2,551 1,086 43 TOTAL LIABILITIES 140,444 139,937 139,432 137,448 135,482 507 — 4,962 4 139,941 133,407 6,534 5 STOCKHOLDERS' EQUITY 21,666 21,552 20,983 20,284 20,142 114 1 1,524 8 21,403 20,075 1,328 7 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $162,110 $161,489 $160,415 $157,732 $155,624 $621 —% $6,486 4% $161,344 $153,482 $7,862 5% Memo: Total loans and leases, including loans held for sale $119,361 $119,469 $118,875 $117,217 $115,328 ($108) —% $4,033 3% $119,236 $113,560 $5,676 5% Total deposits (interest-bearing and demand) $123,921 $123,152 $120,414 $117,765 $117,038 $769 1% $6,883 6% $122,508 $115,214 $7,294 6% Total average tangible common equity $13,788 $13,670 $13,233 $12,907 $13,011 $118 1% $777 6% $13,566 $13,136 $430 3% 1 Balances are net of certain short-term receivables associated with reverse repurchase agreements. 2 Beginning in the first quarter of 2019, borrowed funds balances and the associated interest expense are based on original maturity. Prior periods have been adjusted to conform with the current period presentation. 8AVERAGE BALANCE SHEETS (in millions) QUARTERLY TRENDS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 3Q19 Change 2019 Change 3Q19 2Q19 1Q19 4Q18 3Q18 2Q19 3Q18 2019 2018 2018 $ % $ % $ % ASSETS Interest-bearing cash and due from banks and deposits in banks $1,474 $1,229 $1,497 $1,467 $1,604 $245 20% ($130) (8%) $1,400 $1,616 ($216) (13%) Taxable investment securities 25,635 25,620 25,136 25,081 25,225 15 — 410 2 25,466 25,284 182 1 Non-taxable investment securities 5 5 5 5 6 — — (1) (17) 5 6 (1) (17) Total investment securities 25,640 25,625 25,141 25,086 25,231 15 — 409 2 25,471 25,290 181 1 Investment securities and interest-bearing deposits 27,114 26,854 26,638 26,553 26,835 260 1 279 1 26,871 26,906 (35) — Commercial 41,476 41,755 41,562 40,472 39,592 (279) (1) 1,884 5 41,597 38,990 2,607 7 Commercial real estate 12,892 13,379 13,272 12,900 12,656 (487) (4) 236 2 13,179 12,096 1,083 9 Leases 2,615 2,745 2,873 2,938 3,028 (130) (5) (413) (14) 2,744 3,071 (327) (11) Total commercial loans and leases 56,983 57,879 57,707 56,310 55,276 (896) (2) 1,707 3 57,520 54,157 3,363 6 Residential mortgages 19,405 19,232 19,094 18,713 18,147 173 1 1,258 7 19,245 17,603 1,642 9 Home equity loans 906 971 1,039 1,101 1,168 (65) (7) (262) (22) 971 1,253 (282) (23) Home equity lines of credit 12,182 12,332 12,552 12,790 12,925 (150) (1) (743) (6) 12,354 13,129 (775) (6) Home equity loans serviced by others 330 359 385 411 444 (29) (8) (114) (26) 358 481 (123) (26) Home equity lines of credit serviced by others 83 92 99 108 118 (9) (10) (35) (30) 91 130 (39) (30) Automobile 12,036 11,984 12,070 12,179 12,379 52 — (343) (3) 12,030 12,681 (651) (5) Education 9,459 9,235 9,069 8,801 8,481 224 2 978 12 9,256 8,380 876 10 Credit cards 2,103 2,041 1,998 1,973 1,909 62 3 194 10 2,048 1,864 184 10 Other retail 3,770 3,658 3,636 3,507 3,124 112 3 646 21 3,688 2,980 708 24 Total retail loans 60,274 59,904 59,942 59,583 58,695 370 1 1,579 3 60,041 58,501 1,540 3 Total loans and leases 117,257 117,783 117,649 115,893 113,971 (526) — 3,286 3 117,561 112,658 4,903 4 Loans held for sale, at fair value 1,970 1,528 1,035 1,245 1,228 442 29 742 60 1,514 709 805 114 Other loans held for sale 134 158 191 79 129 (24) (15) 5 4 161 193 (32) (17) Total interest-earning assets 146,475 146,323 145,513 143,770 142,163 152 — 4,312 3 146,107 140,466 5,641 4 Allowance for loan and lease losses (1,226) (1,247) (1,243) (1,241) (1,255) 21 2 29 2 (1,239) (1,246) 7 1 Goodwill 7,044 7,040 7,018 6,946 6,926 4 — 118 2 7,034 6,900 134 2 Other noninterest-earning assets 9,817 9,373 9,127 8,257 7,790 444 5 2,027 26 9,442 7,362 2,080 28 TOTAL ASSETS $162,110 $161,489 $160,415 $157,732 $155,624 $621 —% $6,486 4% $161,344 $153,482 $7,862 5% LIABILITIES AND STOCKHOLDERS' EQUITY LIABILITIES Checking with interest $23,422 $23,919 $22,987 $21,792 $21,780 ($497) (2%) $1,642 8% $23,444 $21,877 $1,567 7% Money market accounts 37,161 35,228 35,209 35,929 36,593 1,933 5 568 2 35,873 36,689 (816) (2) Regular savings 13,442 13,324 12,626 11,220 10,198 118 1 3,244 32 13,134 9,907 3,227 33 Term deposits 20,951 22,292 21,127 19,000 18,764 (1,341) (6) 2,187 12 21,456 17,710 3,746 21 Total interest-bearing deposits 94,976 94,763 91,949 87,941 87,335 213 — 7,641 9 93,907 86,183 7,724 9 Federal funds purchased and securities sold under agreements to 1 487 818 640 821 643 (331) (40) (156) (24) 648 598 50 8 repurchase 2 Other short-term borrowed funds 113 45 58 341 748 68 151 (635) (85) 72 509 (437) (86) 2 Long-term borrowed funds 12,134 12,386 14,736 15,573 14,284 (252) (2) (2,150) (15) 13,076 14,535 (1,459) (10) Total borrowed funds 12,734 13,249 15,434 16,735 15,675 (515) (4) (2,941) (19) 13,796 15,642 (1,846) (12) Total interest-bearing liabilities 107,710 108,012 107,383 104,676 103,010 (302) — 4,700 5 107,703 101,825 5,878 6 Total demand deposits 28,945 28,389 28,465 29,824 29,703 556 2 (758) (3) 28,601 29,031 (430) (1) Other liabilities 3,789 3,536 3,584 2,948 2,769 253 7 1,020 37 3,637 2,551 1,086 43 TOTAL LIABILITIES 140,444 139,937 139,432 137,448 135,482 507 — 4,962 4 139,941 133,407 6,534 5 STOCKHOLDERS' EQUITY 21,666 21,552 20,983 20,284 20,142 114 1 1,524 8 21,403 20,075 1,328 7 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $162,110 $161,489 $160,415 $157,732 $155,624 $621 —% $6,486 4% $161,344 $153,482 $7,862 5% Memo: Total loans and leases, including loans held for sale $119,361 $119,469 $118,875 $117,217 $115,328 ($108) —% $4,033 3% $119,236 $113,560 $5,676 5% Total deposits (interest-bearing and demand) $123,921 $123,152 $120,414 $117,765 $117,038 $769 1% $6,883 6% $122,508 $115,214 $7,294 6% Total average tangible common equity $13,788 $13,670 $13,233 $12,907 $13,011 $118 1% $777 6% $13,566 $13,136 $430 3% 1 Balances are net of certain short-term receivables associated with reverse repurchase agreements. 2 Beginning in the first quarter of 2019, borrowed funds balances and the associated interest expense are based on original maturity. Prior periods have been adjusted to conform with the current period presentation. 8

AVERAGE ANNUALIZED YIELDS AND RATES (in millions, except rates) FOR THE NINE MONTHS ENDED QUARTERLY TRENDS SEPTEMBER 30, 3Q19 2Q19 1Q19 4Q18 3Q18 2019 2018 Income/ Income/ Income/ Income/ Income/ Income/ Income/ Rate Expense Rate Expense Rate Expense Rate Expense Rate Expense Rate Expense Rate Expense INTEREST-EARNING ASSETS Interest-bearing cash and due from banks and deposits in banks 2.09% $8 2.16% $7 2.19% $8 2.05% $8 1.85% $7 2.15% $23 1.75% $21 Taxable investment securities 2.38 153 2.56 164 2.64 166 2.73 172 2.65 167 2.53 483 2.64 500 Non-taxable investment securities 2.60 — 2.60 — 2.60 — 2.60 — 2.60 — 2.60 — 2.60 — Total investment securities 2.38 153 2.56 164 2.64 166 2.73 172 2.65 167 2.53 483 2.64 500 Investment securities and interest-bearing deposits 161 171 174 180 174 506 521 Commercial 4.17 442 4.45 471 4.43 460 4.25 440 4.14 419 4.35 1,373 3.99 1,181 Commercial real estate 4.70 155 4.91 166 4.98 165 4.77 157 4.56 147 4.86 486 4.36 400 Leases 2.85 19 2.89 19 2.85 21 2.81 20 2.74 21 2.86 59 2.68 62 Total commercial loans and leases 4.23 616 4.48 656 4.48 646 4.30 617 4.16 587 4.40 1,918 4.00 1,643 Residential mortgages 3.53 171 3.65 176 3.67 175 3.67 171 3.62 164 3.61 522 3.58 473 Home equity loans 6.21 14 6.01 14 6.05 16 6.09 17 5.93 18 6.09 44 5.86 55 Home equity lines of credit 5.08 156 5.15 158 5.13 159 4.91 158 4.66 152 5.12 473 4.42 434 Home equity loans serviced by others 8.48 7 7.67 7 7.75 7 7.48 8 7.45 8 7.95 21 7.33 26 Home equity lines of credit serviced by others 4.56 1 5.27 1 4.97 1 4.56 1 4.89 2 4.94 3 4.14 4 Automobile 4.25 129 4.19 125 4.04 120 3.90 119 3.74 117 4.16 374 3.60 342 Education 5.89 141 5.97 137 5.99 134 5.87 130 5.78 124 5.94 412 5.69 357 Credit cards 9.93 53 10.26 52 10.76 53 10.51 52 10.77 52 10.31 158 10.74 150 Other retail 7.25 68 7.11 66 7.83 70 8.17 74 8.10 63 7.39 204 8.06 179 Total retail loans 4.88 740 4.92 736 4.96 735 4.87 730 4.73 700 4.92 2,211 4.61 2,020 Total loans and leases 4.56 1,356 4.71 1,392 4.72 1,381 4.59 1,347 4.46 1,287 4.67 4,129 4.32 3,663 Loans held for sale, at fair value 3.71 19 3.93 15 4.35 11 4.59 14 4.49 14 3.92 45 4.27 23 Other loans held for sale 6.42 2 5.67 2 7.03 4 5.13 1 6.44 2 6.41 8 6.32 9 Total interest-earning assets 4.15 1,538 4.30 1,580 4.34 1,570 4.24 1,542 4.11 1,477 4.26 4,688 3.99 4,216 INTEREST-BEARING LIABILITIES Checking with interest 0.88 52 0.96 57 0.91 52 0.75 42 0.67 36 0.92 161 0.59 96 Money market accounts 1.24 116 1.30 114 1.26 110 1.14 104 1.03 95 1.27 340 0.87 239 Regular savings 0.59 20 0.62 21 0.56 17 0.35 10 0.12 3 0.59 58 0.07 5 Term deposits 2.05 109 2.09 116 2.08 108 1.88 89 1.68 80 2.07 333 1.51 200 Total interest-bearing deposits 1.24 297 1.30 308 1.27 287 1.10 245 0.98 214 1.27 892 0.84 540 1 Federal funds purchased and securities sold under agreements to repurchase 1.19 2 1.76 3 1.24 2 1.27 2 0.93 2 1.45 7 0.78 4 2 Other short-term borrowed funds 2.46 — 2.66 1 2.75 — 2.58 2 2.27 4 2.58 1 2.00 7 2 Long-term borrowed funds 3.07 94 3.30 102 3.27 121 3.07 121 3.01 109 3.22 317 2.78 305 Total borrowed funds 3.00 96 3.20 106 3.18 123 2.98 125 2.90 115 3.13 325 2.68 316 Total interest-bearing liabilities 1.45 393 1.54 414 1.54 410 1.40 370 1.27 329 1.51 1,217 1.12 856 INTEREST RATE SPREAD 2.70 2.77 2.80 2.84 2.84 2.75 2.87 3 NET INTEREST MARGIN AND NET INTEREST INCOME 3.10% $1,145 3.20% $1,166 3.23% $1,160 3.23% $1,172 3.20% $1,148 3.18% $3,471 3.20% $3,360 4 NET INTEREST MARGIN AND NET INTEREST INCOME, FTE 3.12% $1,150 3.21% $1,172 3.25% $1,166 3.25% $1,177 3.22% $1,154 3.19% $3,488 3.21% $3,377 Memo: Total deposit costs 0.95% $297 1.00% $308 0.97% $287 0.82% $245 0.73% $214 0.97% $892 0.63% $540 1 Balances are net of certain short-term receivables associated with reverse repurchase agreements; interest expense includes the full cost of the repurchase agreements and certain hedging costs. 2 Beginning in the first quarter of 2019, borrowed funds balances and the associated interest expense are based on original maturity. Prior periods have been adjusted to conform with the current period presentation. 3 Beginning in the first quarter of 2019, we changed the method of calculating our net interest margin to equal net interest income, annualized based on the number of days in the period, divided by average total interest-earning assets. Prior periods have been adjusted to conform with the current period presentation. 4 Net interest income and net interest margin is presented on a fully taxable-equivalent ( FTE ) basis using the federal statutory tax rate of 21%. The FTE impact is predominantly attributable to commercial loans for the periods presented. 9AVERAGE ANNUALIZED YIELDS AND RATES (in millions, except rates) FOR THE NINE MONTHS ENDED QUARTERLY TRENDS SEPTEMBER 30, 3Q19 2Q19 1Q19 4Q18 3Q18 2019 2018 Income/ Income/ Income/ Income/ Income/ Income/ Income/ Rate Expense Rate Expense Rate Expense Rate Expense Rate Expense Rate Expense Rate Expense INTEREST-EARNING ASSETS Interest-bearing cash and due from banks and deposits in banks 2.09% $8 2.16% $7 2.19% $8 2.05% $8 1.85% $7 2.15% $23 1.75% $21 Taxable investment securities 2.38 153 2.56 164 2.64 166 2.73 172 2.65 167 2.53 483 2.64 500 Non-taxable investment securities 2.60 — 2.60 — 2.60 — 2.60 — 2.60 — 2.60 — 2.60 — Total investment securities 2.38 153 2.56 164 2.64 166 2.73 172 2.65 167 2.53 483 2.64 500 Investment securities and interest-bearing deposits 161 171 174 180 174 506 521 Commercial 4.17 442 4.45 471 4.43 460 4.25 440 4.14 419 4.35 1,373 3.99 1,181 Commercial real estate 4.70 155 4.91 166 4.98 165 4.77 157 4.56 147 4.86 486 4.36 400 Leases 2.85 19 2.89 19 2.85 21 2.81 20 2.74 21 2.86 59 2.68 62 Total commercial loans and leases 4.23 616 4.48 656 4.48 646 4.30 617 4.16 587 4.40 1,918 4.00 1,643 Residential mortgages 3.53 171 3.65 176 3.67 175 3.67 171 3.62 164 3.61 522 3.58 473 Home equity loans 6.21 14 6.01 14 6.05 16 6.09 17 5.93 18 6.09 44 5.86 55 Home equity lines of credit 5.08 156 5.15 158 5.13 159 4.91 158 4.66 152 5.12 473 4.42 434 Home equity loans serviced by others 8.48 7 7.67 7 7.75 7 7.48 8 7.45 8 7.95 21 7.33 26 Home equity lines of credit serviced by others 4.56 1 5.27 1 4.97 1 4.56 1 4.89 2 4.94 3 4.14 4 Automobile 4.25 129 4.19 125 4.04 120 3.90 119 3.74 117 4.16 374 3.60 342 Education 5.89 141 5.97 137 5.99 134 5.87 130 5.78 124 5.94 412 5.69 357 Credit cards 9.93 53 10.26 52 10.76 53 10.51 52 10.77 52 10.31 158 10.74 150 Other retail 7.25 68 7.11 66 7.83 70 8.17 74 8.10 63 7.39 204 8.06 179 Total retail loans 4.88 740 4.92 736 4.96 735 4.87 730 4.73 700 4.92 2,211 4.61 2,020 Total loans and leases 4.56 1,356 4.71 1,392 4.72 1,381 4.59 1,347 4.46 1,287 4.67 4,129 4.32 3,663 Loans held for sale, at fair value 3.71 19 3.93 15 4.35 11 4.59 14 4.49 14 3.92 45 4.27 23 Other loans held for sale 6.42 2 5.67 2 7.03 4 5.13 1 6.44 2 6.41 8 6.32 9 Total interest-earning assets 4.15 1,538 4.30 1,580 4.34 1,570 4.24 1,542 4.11 1,477 4.26 4,688 3.99 4,216 INTEREST-BEARING LIABILITIES Checking with interest 0.88 52 0.96 57 0.91 52 0.75 42 0.67 36 0.92 161 0.59 96 Money market accounts 1.24 116 1.30 114 1.26 110 1.14 104 1.03 95 1.27 340 0.87 239 Regular savings 0.59 20 0.62 21 0.56 17 0.35 10 0.12 3 0.59 58 0.07 5 Term deposits 2.05 109 2.09 116 2.08 108 1.88 89 1.68 80 2.07 333 1.51 200 Total interest-bearing deposits 1.24 297 1.30 308 1.27 287 1.10 245 0.98 214 1.27 892 0.84 540 1 Federal funds purchased and securities sold under agreements to repurchase 1.19 2 1.76 3 1.24 2 1.27 2 0.93 2 1.45 7 0.78 4 2 Other short-term borrowed funds 2.46 — 2.66 1 2.75 — 2.58 2 2.27 4 2.58 1 2.00 7 2 Long-term borrowed funds 3.07 94 3.30 102 3.27 121 3.07 121 3.01 109 3.22 317 2.78 305 Total borrowed funds 3.00 96 3.20 106 3.18 123 2.98 125 2.90 115 3.13 325 2.68 316 Total interest-bearing liabilities 1.45 393 1.54 414 1.54 410 1.40 370 1.27 329 1.51 1,217 1.12 856 INTEREST RATE SPREAD 2.70 2.77 2.80 2.84 2.84 2.75 2.87 3 NET INTEREST MARGIN AND NET INTEREST INCOME 3.10% $1,145 3.20% $1,166 3.23% $1,160 3.23% $1,172 3.20% $1,148 3.18% $3,471 3.20% $3,360 4 NET INTEREST MARGIN AND NET INTEREST INCOME, FTE 3.12% $1,150 3.21% $1,172 3.25% $1,166 3.25% $1,177 3.22% $1,154 3.19% $3,488 3.21% $3,377 Memo: Total deposit costs 0.95% $297 1.00% $308 0.97% $287 0.82% $245 0.73% $214 0.97% $892 0.63% $540 1 Balances are net of certain short-term receivables associated with reverse repurchase agreements; interest expense includes the full cost of the repurchase agreements and certain hedging costs. 2 Beginning in the first quarter of 2019, borrowed funds balances and the associated interest expense are based on original maturity. Prior periods have been adjusted to conform with the current period presentation. 3 Beginning in the first quarter of 2019, we changed the method of calculating our net interest margin to equal net interest income, annualized based on the number of days in the period, divided by average total interest-earning assets. Prior periods have been adjusted to conform with the current period presentation. 4 Net interest income and net interest margin is presented on a fully taxable-equivalent ( FTE ) basis using the federal statutory tax rate of 21%. The FTE impact is predominantly attributable to commercial loans for the periods presented. 9

SEGMENT FINANCIAL HIGHLIGHTS - CONSOLIDATING (in millions, except ratio data) THIRD QUARTER 2019 SECOND QUARTER 2019 CHANGE 3Q19 from 2Q19 Consumer Commercial Consumer Commercial 1 1 Banking Banking Other Consolidated Banking Banking Other Consolidated $/bps % Net interest income $799 $360 ($14) $1,145 $799 $371 ($4) $1,166 ($21) (2%) Noninterest income 336 133 24 493 277 149 36 462 31 7 Total revenue 1,135 493 10 1,638 1,076 520 32 1,628 10 1 Noninterest expense 718 213 42 973 715 217 19 951 22 2 Profit (loss) before provision for credit losses 417 280 (32) 665 361 303 13 677 (12) (2) Provision for credit losses 83 27 (9) 101 78 25 (6) 97 4 4 Income (loss) before income tax expense (benefit) 334 253 (23) 564 283 278 19 580 (16) (3) Income tax expense (benefit) 83 57 (25) 115 70 62 (5) 127 (12) (9) Net income $251 $196 $2 $449 $213 $216 $24 $453 ($4) (1%) AVERAGE BALANCES Total assets $66,365 $55,614 $40,131 $162,110 $65,485 $56,135 $39,869 $161,489 $621 —% 2 Total loans and leases 63,553 53,814 1,994 119,361 62,678 54,653 2,138 119,469 (108) — Deposits 85,595 31,491 6,835 123,921 85,660 30,273 7,219 123,152 769 1 Interest-earning assets 63,605 54,087 28,783 146,475 62,731 54,950 28,642 146,323 152 — KEY METRICS Net interest margin 4.99% 2.64% NM 3.10% 5.11% 2.71% NM 3.20% (10) bps Efficiency ratio 63.28 43.35 NM 59.40 66.43 41.58 NM 58.41 99 bps Loans-to-deposits ratio (period-end balances) 73.61 163.62 NM 94.52 71.13 173.48 NM 94.22 30 bps Loans-to-deposits ratio (average balances) 72.11 170.01 NM 94.62 71.57 179.49 NM 95.64 (102) bps Return on average total tangible assets 1.50 1.40 NM 1.15 1.31 1.54 NM 1.17 (2) bps 1 Includes the financial impact of non-core, liquidating loan portfolios and other non-core assets, our treasury activities, wholesale funding activities, securities portfolio, community development assets and other unallocated assets, liabilities, capital, revenues, provision for credit losses, expenses and income tax expense, not attributed to our Consumer Banking or Commercial Banking segments. 2 Includes loans held for sale. 10SEGMENT FINANCIAL HIGHLIGHTS - CONSOLIDATING (in millions, except ratio data) THIRD QUARTER 2019 SECOND QUARTER 2019 CHANGE 3Q19 from 2Q19 Consumer Commercial Consumer Commercial 1 1 Banking Banking Other Consolidated Banking Banking Other Consolidated $/bps % Net interest income $799 $360 ($14) $1,145 $799 $371 ($4) $1,166 ($21) (2%) Noninterest income 336 133 24 493 277 149 36 462 31 7 Total revenue 1,135 493 10 1,638 1,076 520 32 1,628 10 1 Noninterest expense 718 213 42 973 715 217 19 951 22 2 Profit (loss) before provision for credit losses 417 280 (32) 665 361 303 13 677 (12) (2) Provision for credit losses 83 27 (9) 101 78 25 (6) 97 4 4 Income (loss) before income tax expense (benefit) 334 253 (23) 564 283 278 19 580 (16) (3) Income tax expense (benefit) 83 57 (25) 115 70 62 (5) 127 (12) (9) Net income $251 $196 $2 $449 $213 $216 $24 $453 ($4) (1%) AVERAGE BALANCES Total assets $66,365 $55,614 $40,131 $162,110 $65,485 $56,135 $39,869 $161,489 $621 —% 2 Total loans and leases 63,553 53,814 1,994 119,361 62,678 54,653 2,138 119,469 (108) — Deposits 85,595 31,491 6,835 123,921 85,660 30,273 7,219 123,152 769 1 Interest-earning assets 63,605 54,087 28,783 146,475 62,731 54,950 28,642 146,323 152 — KEY METRICS Net interest margin 4.99% 2.64% NM 3.10% 5.11% 2.71% NM 3.20% (10) bps Efficiency ratio 63.28 43.35 NM 59.40 66.43 41.58 NM 58.41 99 bps Loans-to-deposits ratio (period-end balances) 73.61 163.62 NM 94.52 71.13 173.48 NM 94.22 30 bps Loans-to-deposits ratio (average balances) 72.11 170.01 NM 94.62 71.57 179.49 NM 95.64 (102) bps Return on average total tangible assets 1.50 1.40 NM 1.15 1.31 1.54 NM 1.17 (2) bps 1 Includes the financial impact of non-core, liquidating loan portfolios and other non-core assets, our treasury activities, wholesale funding activities, securities portfolio, community development assets and other unallocated assets, liabilities, capital, revenues, provision for credit losses, expenses and income tax expense, not attributed to our Consumer Banking or Commercial Banking segments. 2 Includes loans held for sale. 10

SEGMENT FINANCIAL HIGHLIGHTS - CONSOLIDATING, CONTINUED (in millions, except ratio data) THIRD QUARTER 2019 THIRD QUARTER 2018 CHANGE 3Q19 from 3Q18 Consumer Commercial Consumer Commercial 1 1 Banking Banking Other Consolidated Banking Banking Other Consolidated $/bps % Net interest income $799 $360 ($14) $1,145 $776 $380 ($8) $1,148 ($3) —% Noninterest income 336 133 24 493 258 140 18 416 77 19 Total revenue 1,135 493 10 1,638 1,034 520 10 1,564 74 5 Noninterest expense 718 213 42 973 686 202 22 910 63 7 Profit (loss) before provision for credit losses 417 280 (32) 665 348 318 (12) 654 11 2 Provision for credit losses 83 27 (9) 101 71 14 (7) 78 23 29 Income (loss) before income tax expense (benefit) 334 253 (23) 564 277 304 (5) 576 (12) (2) Income tax expense (benefit) 83 57 (25) 115 70 70 (7) 133 (18) (14) Net income $251 $196 $2 $449 $207 $234 $2 $443 $6 1% AVERAGE BALANCES Total assets $66,365 $55,614 $40,131 $162,110 $62,974 $52,871 $39,779 $155,624 $6,486 4% 2 Total loans and leases 63,553 53,814 1,994 119,361 61,045 51,881 2,402 115,328 4,033 3 Deposits 85,595 31,491 6,835 123,921 78,128 31,224 7,686 117,038 6,883 6 Interest-earning assets 63,605 54,087 28,783 146,475 61,097 52,137 28,929 142,163 4,312 3 KEY METRICS 3 Net interest margin 4.99% 2.64% NM 3.10% 5.04% 2.89% NM 3.20% (10) bps Efficiency ratio 63.28 43.35 NM 59.40 66.29 38.83 NM 58.20 120 bps Loans-to-deposits ratio (period-end balances) 73.61 163.62 NM 94.52 77.15 169.64 NM 97.99 (347) bps Loans-to-deposits ratio (average balances) 72.11 170.01 NM 94.62 76.79 165.17 NM 97.38 (276) bps Return on average total tangible assets 1.50 1.40 NM 1.15 1.31 1.75 NM 1.18 (3) bps 1 Includes the financial impact of non-core, liquidating loan portfolios and other non-core assets, our treasury activities, wholesale funding activities, securities portfolio, community development assets and other unallocated assets, liabilities, capital, revenues, provision for credit losses, expenses and income tax expense, not attributed to our Consumer Banking or Commercial Banking segments. 2 Includes loans held for sale. 3 Beginning in the first quarter of 2019, we changed the method of calculating our net interest margin to equal net interest income, annualized based on the number of days in the period, divided by average total interest-earning assets. Prior periods have been adjusted to conform with the current period presentation. 11SEGMENT FINANCIAL HIGHLIGHTS - CONSOLIDATING, CONTINUED (in millions, except ratio data) THIRD QUARTER 2019 THIRD QUARTER 2018 CHANGE 3Q19 from 3Q18 Consumer Commercial Consumer Commercial 1 1 Banking Banking Other Consolidated Banking Banking Other Consolidated $/bps % Net interest income $799 $360 ($14) $1,145 $776 $380 ($8) $1,148 ($3) —% Noninterest income 336 133 24 493 258 140 18 416 77 19 Total revenue 1,135 493 10 1,638 1,034 520 10 1,564 74 5 Noninterest expense 718 213 42 973 686 202 22 910 63 7 Profit (loss) before provision for credit losses 417 280 (32) 665 348 318 (12) 654 11 2 Provision for credit losses 83 27 (9) 101 71 14 (7) 78 23 29 Income (loss) before income tax expense (benefit) 334 253 (23) 564 277 304 (5) 576 (12) (2) Income tax expense (benefit) 83 57 (25) 115 70 70 (7) 133 (18) (14) Net income $251 $196 $2 $449 $207 $234 $2 $443 $6 1% AVERAGE BALANCES Total assets $66,365 $55,614 $40,131 $162,110 $62,974 $52,871 $39,779 $155,624 $6,486 4% 2 Total loans and leases 63,553 53,814 1,994 119,361 61,045 51,881 2,402 115,328 4,033 3 Deposits 85,595 31,491 6,835 123,921 78,128 31,224 7,686 117,038 6,883 6 Interest-earning assets 63,605 54,087 28,783 146,475 61,097 52,137 28,929 142,163 4,312 3 KEY METRICS 3 Net interest margin 4.99% 2.64% NM 3.10% 5.04% 2.89% NM 3.20% (10) bps Efficiency ratio 63.28 43.35 NM 59.40 66.29 38.83 NM 58.20 120 bps Loans-to-deposits ratio (period-end balances) 73.61 163.62 NM 94.52 77.15 169.64 NM 97.99 (347) bps Loans-to-deposits ratio (average balances) 72.11 170.01 NM 94.62 76.79 165.17 NM 97.38 (276) bps Return on average total tangible assets 1.50 1.40 NM 1.15 1.31 1.75 NM 1.18 (3) bps 1 Includes the financial impact of non-core, liquidating loan portfolios and other non-core assets, our treasury activities, wholesale funding activities, securities portfolio, community development assets and other unallocated assets, liabilities, capital, revenues, provision for credit losses, expenses and income tax expense, not attributed to our Consumer Banking or Commercial Banking segments. 2 Includes loans held for sale. 3 Beginning in the first quarter of 2019, we changed the method of calculating our net interest margin to equal net interest income, annualized based on the number of days in the period, divided by average total interest-earning assets. Prior periods have been adjusted to conform with the current period presentation. 11

SEGMENT FINANCIAL HIGHLIGHTS - CONSOLIDATING, CONTINUED (in millions, except ratio data) FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2019 FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2018 CHANGE 2019 from 2018 Consumer Commercial Consumer Commercial 1 1 Banking Banking Other Consolidated Banking Banking Other Consolidated $/bps % Net interest income $2,386 $1,103 ($18) $3,471 $2,268 $1,113 ($21) $3,360 $111 3% Noninterest income 860 432 91 1,383 708 405 62 1,175 208 18 Total revenue 3,246 1,535 73 4,854 2,976 1,518 41 4,535 319 7 Noninterest expense 2,133 639 89 2,861 2,000 610 58 2,668 193 7 Profit (loss) before provision for credit losses 1,113 896 (16) 1,993 976 908 (17) 1,867 126 7 Provision for credit losses 228 73 (18) 283 209 19 13 241 42 17 Income (loss) before income tax expense (benefit) 885 823 2 1,710 767 889 (30) 1,626 84 5 Income tax expense (benefit) 219 184 (34) 369 193 203 (26) 370 (1) — Net income (loss) $666 $639 $36 $1,341 $574 $686 ($4) $1,256 $85 7% AVERAGE BALANCES Total assets $65,624 $55,793 $39,927 $161,344 $61,857 $51,820 $39,805 $153,482 $7,862 5% 2 Total loans and leases 62,803 54,299 2,134 119,236 60,277 50,799 2,484 113,560 5,676 5 Deposits 84,619 30,535 7,354 122,508 76,992 30,736 7,486 115,214 7,294 6 Interest-earning assets 62,856 54,585 28,666 146,107 60,328 51,016 29,122 140,466 5,641 4 KEY METRICS 3 Net interest margin 5.08% 2.70% NM 3.18% 5.03% 2.92% NM 3.20% (2) bps Efficiency ratio 65.71 41.65 NM 58.94 67.20 40.16 NM 58.84 10 bps Loans-to-deposits ratio (period-end balances) 73.61 163.62 NM 94.52 77.15 169.64 NM 97.99 (347) bps Loans-to-deposits ratio (average balances) 72.62 176.75 NM 95.96 77.59 164.08 NM 97.78 (182) bps Return on average total tangible assets 1.36 1.53 NM 1.16 1.24 1.77 NM 1.14 2 bps 1 Includes the financial impact of non-core, liquidating loan portfolios and other non-core assets, our treasury activities, wholesale funding activities, securities portfolio, community development assets and other unallocated assets, liabilities, capital, revenues, provision for credit losses, expenses and income tax expense, not attributed to our Consumer Banking or Commercial Banking segments. 2 Includes loans held for sale. 3 Beginning in the first quarter of 2019, we changed the method of calculating our net interest margin to equal net interest income, annualized based on the number of days in the period, divided by average total interest-earning assets. Prior periods have been adjusted to conform with the current period presentation. 12SEGMENT FINANCIAL HIGHLIGHTS - CONSOLIDATING, CONTINUED (in millions, except ratio data) FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2019 FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2018 CHANGE 2019 from 2018 Consumer Commercial Consumer Commercial 1 1 Banking Banking Other Consolidated Banking Banking Other Consolidated $/bps % Net interest income $2,386 $1,103 ($18) $3,471 $2,268 $1,113 ($21) $3,360 $111 3% Noninterest income 860 432 91 1,383 708 405 62 1,175 208 18 Total revenue 3,246 1,535 73 4,854 2,976 1,518 41 4,535 319 7 Noninterest expense 2,133 639 89 2,861 2,000 610 58 2,668 193 7 Profit (loss) before provision for credit losses 1,113 896 (16) 1,993 976 908 (17) 1,867 126 7 Provision for credit losses 228 73 (18) 283 209 19 13 241 42 17 Income (loss) before income tax expense (benefit) 885 823 2 1,710 767 889 (30) 1,626 84 5 Income tax expense (benefit) 219 184 (34) 369 193 203 (26) 370 (1) — Net income (loss) $666 $639 $36 $1,341 $574 $686 ($4) $1,256 $85 7% AVERAGE BALANCES Total assets $65,624 $55,793 $39,927 $161,344 $61,857 $51,820 $39,805 $153,482 $7,862 5% 2 Total loans and leases 62,803 54,299 2,134 119,236 60,277 50,799 2,484 113,560 5,676 5 Deposits 84,619 30,535 7,354 122,508 76,992 30,736 7,486 115,214 7,294 6 Interest-earning assets 62,856 54,585 28,666 146,107 60,328 51,016 29,122 140,466 5,641 4 KEY METRICS 3 Net interest margin 5.08% 2.70% NM 3.18% 5.03% 2.92% NM 3.20% (2) bps Efficiency ratio 65.71 41.65 NM 58.94 67.20 40.16 NM 58.84 10 bps Loans-to-deposits ratio (period-end balances) 73.61 163.62 NM 94.52 77.15 169.64 NM 97.99 (347) bps Loans-to-deposits ratio (average balances) 72.62 176.75 NM 95.96 77.59 164.08 NM 97.78 (182) bps Return on average total tangible assets 1.36 1.53 NM 1.16 1.24 1.77 NM 1.14 2 bps 1 Includes the financial impact of non-core, liquidating loan portfolios and other non-core assets, our treasury activities, wholesale funding activities, securities portfolio, community development assets and other unallocated assets, liabilities, capital, revenues, provision for credit losses, expenses and income tax expense, not attributed to our Consumer Banking or Commercial Banking segments. 2 Includes loans held for sale. 3 Beginning in the first quarter of 2019, we changed the method of calculating our net interest margin to equal net interest income, annualized based on the number of days in the period, divided by average total interest-earning assets. Prior periods have been adjusted to conform with the current period presentation. 12

SEGMENT FINANCIAL HIGHLIGHTS - CONSUMER BANKING (in millions, except ratio data) QUARTERLY TRENDS FOR THE NINE MONTHS ENDED SEPTEMBER 30, CONSUMER BANKING 3Q19 Change 2019 Change 3Q19 2Q19 1Q19 4Q18 3Q18 2Q19 3Q18 2019 2018 2018 $/bps % $/bps % $/bps % Net interest income $799 $799 $788 $796 $776 $— —% $23 3% $2,386 $2,268 $118 5% Noninterest income 336 277 247 265 258 59 21 78 30 860 708 152 21 Total revenue 1,135 1,076 1,035 1,061 1,034 59 5 101 10 3,246 2,976 270 9 Noninterest expense 718 715 700 723 686 3 — 32 5 2,133 2,000 133 7 Profit before provision for credit losses 417 361 335 338 348 56 16 69 20 1,113 976 137 14 Provision for credit losses 83 78 67 80 71 5 6 12 17 228 209 19 9 Income before income tax expense 334 283 268 258 277 51 18 57 21 885 767 118 15 Income tax expense 83 70 66 65 70 13 19 13 19 219 193 26 13 Net income $251 $213 $202 $193 $207 $38 18% $44 21% $666 $574 $92 16% AVERAGE BALANCES Total assets $66,365 $65,485 $65,007 $64,187 $62,974 $880 1% $3,391 5% $65,624 $61,857 $3,767 6% 1 Total loans and leases 63,553 62,678 62,163 61,920 61,045 875 1 2,508 4 62,803 60,277 2,526 4 Deposits 85,595 85,660 82,569 79,174 78,128 (65) — 7,467 10 84,619 76,992 7,627 10 Interest-earning assets 63,605 62,731 62,216 61,975 61,097 874 1 2,508 4 62,856 60,328 2,528 4 KEY METRICS Net interest margin 4.99% 5.11% 5.14% 5.09% 5.04% (12) bps (5) bps 5.08% 5.03% 5 bps Efficiency ratio 63.28 66.43 67.62 68.22 66.29 (315) bps (301) bps 65.71 67.20 (149) bps Loans-to-deposits ratio (period-end balances) 73.61 71.13 71.17 76.02 77.15 248 bps (354) bps 73.61 77.15 (354) bps Loans-to-deposits ratio (average balances) 72.11 71.57 74.27 76.91 76.79 54 bps (468) bps 72.62 77.59 (497) bps Return on average total tangible assets 1.50 1.31 1.26 1.19 1.31 19 bps 19 bps 1.36 1.24 12 bps 1 Includes loans held for sale. 13SEGMENT FINANCIAL HIGHLIGHTS - CONSUMER BANKING (in millions, except ratio data) QUARTERLY TRENDS FOR THE NINE MONTHS ENDED SEPTEMBER 30, CONSUMER BANKING 3Q19 Change 2019 Change 3Q19 2Q19 1Q19 4Q18 3Q18 2Q19 3Q18 2019 2018 2018 $/bps % $/bps % $/bps % Net interest income $799 $799 $788 $796 $776 $— —% $23 3% $2,386 $2,268 $118 5% Noninterest income 336 277 247 265 258 59 21 78 30 860 708 152 21 Total revenue 1,135 1,076 1,035 1,061 1,034 59 5 101 10 3,246 2,976 270 9 Noninterest expense 718 715 700 723 686 3 — 32 5 2,133 2,000 133 7 Profit before provision for credit losses 417 361 335 338 348 56 16 69 20 1,113 976 137 14 Provision for credit losses 83 78 67 80 71 5 6 12 17 228 209 19 9 Income before income tax expense 334 283 268 258 277 51 18 57 21 885 767 118 15 Income tax expense 83 70 66 65 70 13 19 13 19 219 193 26 13 Net income $251 $213 $202 $193 $207 $38 18% $44 21% $666 $574 $92 16% AVERAGE BALANCES Total assets $66,365 $65,485 $65,007 $64,187 $62,974 $880 1% $3,391 5% $65,624 $61,857 $3,767 6% 1 Total loans and leases 63,553 62,678 62,163 61,920 61,045 875 1 2,508 4 62,803 60,277 2,526 4 Deposits 85,595 85,660 82,569 79,174 78,128 (65) — 7,467 10 84,619 76,992 7,627 10 Interest-earning assets 63,605 62,731 62,216 61,975 61,097 874 1 2,508 4 62,856 60,328 2,528 4 KEY METRICS Net interest margin 4.99% 5.11% 5.14% 5.09% 5.04% (12) bps (5) bps 5.08% 5.03% 5 bps Efficiency ratio 63.28 66.43 67.62 68.22 66.29 (315) bps (301) bps 65.71 67.20 (149) bps Loans-to-deposits ratio (period-end balances) 73.61 71.13 71.17 76.02 77.15 248 bps (354) bps 73.61 77.15 (354) bps Loans-to-deposits ratio (average balances) 72.11 71.57 74.27 76.91 76.79 54 bps (468) bps 72.62 77.59 (497) bps Return on average total tangible assets 1.50 1.31 1.26 1.19 1.31 19 bps 19 bps 1.36 1.24 12 bps 1 Includes loans held for sale. 13

SEGMENT FINANCIAL HIGHLIGHTS - CONSUMER BANKING, CONTINUED (in millions, except ratio data) QUARTERLY TRENDS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 3Q19 Change 2019 Change 3Q19 2Q19 1Q19 4Q18 3Q18 2Q19 3Q18 2019 2018 2018 $/bps % $/bps % $/bps % MORTGAGE BANKING FEES Production revenue $80 $49 $31 $28 $31 $31 63% $49 158% $160 $64 $96 150% Mortgage servicing revenue 12 9 14 21 16 3 33 (4) (25) 35 32 3 9 MSR valuation changes, net of hedge impact 25 4 (2) 2 2 21 NM 23 NM 27 5 22 NM Total mortgage banking fees $117 $62 $43 $51 $49 $55 89% $68 139% $222 $101 $121 120% Gain on sale of secondary originations 1.40% 1.13% 1.28% 0.82% 0.96% 27 bps 44 bps 1.28% 1.30% (2) bps RESIDENTIAL REAL ESTATE ORIGINATIONS Retail $2,771 $2,115 $1,313 $1,693 $1,939 $656 31% $832 43% $6,199 $5,035 $1,164 23% Third Party 5,080 3,921 2,260 2,880 2,178 1,159 30 2,902 133 11,261 2,178 9,083 NM Total $7,851 $6,036 $3,573 $4,573 $4,117 $1,815 30% $3,734 91% $17,460 $7,213 $10,247 142% Originated for sale 80% 81% 81% 80% 74% (100) bps 600 bps 80% 61% 1,900 bps Originated for investment 20 19 19 20 26 100 bps (600) bps 20 39 (1,900) bps Total 100% 100% 100% 100% 100% 100% 100% MORTGAGE SERVICING INFORMATION (UPB) Loans serviced for others $74,610 $72,518 $70,847 $69,593 $67,520 $2,092 3% $7,090 11% $74,610 $67,520 $7,090 11% Owned loans serviced 19,969 19,258 18,437 18,298 17,709 711 4 2,260 13 19,969 17,709 2,260 13 Total $94,579 $91,776 $89,284 $87,891 $85,229 $2,803 3% $9,350 11% $94,579 $85,229 $9,350 11% MSR CARRYING VALUE MSR at fair value $510 $531 $563 $600 $612 ($21) (4%) ($102) (17%) $510 $612 ($102) (17%) MSR at lower of cost or market 177 189 212 221 219 (12) (6) (42) (19) 177 219 (42) (19) Total $687 $720 $775 $821 $831 ($33) (5%) ($144) (17%) $687 $831 ($144) (17%) 14SEGMENT FINANCIAL HIGHLIGHTS - CONSUMER BANKING, CONTINUED (in millions, except ratio data) QUARTERLY TRENDS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 3Q19 Change 2019 Change 3Q19 2Q19 1Q19 4Q18 3Q18 2Q19 3Q18 2019 2018 2018 $/bps % $/bps % $/bps % MORTGAGE BANKING FEES Production revenue $80 $49 $31 $28 $31 $31 63% $49 158% $160 $64 $96 150% Mortgage servicing revenue 12 9 14 21 16 3 33 (4) (25) 35 32 3 9 MSR valuation changes, net of hedge impact 25 4 (2) 2 2 21 NM 23 NM 27 5 22 NM Total mortgage banking fees $117 $62 $43 $51 $49 $55 89% $68 139% $222 $101 $121 120% Gain on sale of secondary originations 1.40% 1.13% 1.28% 0.82% 0.96% 27 bps 44 bps 1.28% 1.30% (2) bps RESIDENTIAL REAL ESTATE ORIGINATIONS Retail $2,771 $2,115 $1,313 $1,693 $1,939 $656 31% $832 43% $6,199 $5,035 $1,164 23% Third Party 5,080 3,921 2,260 2,880 2,178 1,159 30 2,902 133 11,261 2,178 9,083 NM Total $7,851 $6,036 $3,573 $4,573 $4,117 $1,815 30% $3,734 91% $17,460 $7,213 $10,247 142% Originated for sale 80% 81% 81% 80% 74% (100) bps 600 bps 80% 61% 1,900 bps Originated for investment 20 19 19 20 26 100 bps (600) bps 20 39 (1,900) bps Total 100% 100% 100% 100% 100% 100% 100% MORTGAGE SERVICING INFORMATION (UPB) Loans serviced for others $74,610 $72,518 $70,847 $69,593 $67,520 $2,092 3% $7,090 11% $74,610 $67,520 $7,090 11% Owned loans serviced 19,969 19,258 18,437 18,298 17,709 711 4 2,260 13 19,969 17,709 2,260 13 Total $94,579 $91,776 $89,284 $87,891 $85,229 $2,803 3% $9,350 11% $94,579 $85,229 $9,350 11% MSR CARRYING VALUE MSR at fair value $510 $531 $563 $600 $612 ($21) (4%) ($102) (17%) $510 $612 ($102) (17%) MSR at lower of cost or market 177 189 212 221 219 (12) (6) (42) (19) 177 219 (42) (19) Total $687 $720 $775 $821 $831 ($33) (5%) ($144) (17%) $687 $831 ($144) (17%) 14

SEGMENT FINANCIAL HIGHLIGHTS - COMMERCIAL BANKING (in millions, except ratio data) QUARTERLY TRENDS FOR THE NINE MONTHS ENDED SEPTEMBER 30, COMMERCIAL BANKING 3Q19 Change 2019 Change 3Q19 2Q19 1Q19 4Q18 3Q18 2Q19 3Q18 2019 2018 2018 $/bps % $/bps % $/bps % Net interest income $360 $371 $372 $384 $380 ($11) (3%) ($20) (5%) $1,103 $1,113 ($10) (1%) Noninterest income 133 149 150 140 140 (16) (11) (7) (5) 432 405 27 7 Total revenue 493 520 522 524 520 (27) (5) (27) (5) 1,535 1,518 17 1 Noninterest expense 213 217 209 203 202 (4) (2) 11 5 639 610 29 5 Profit before provision for credit losses 280 303 313 321 318 (23) (8) (38) (12) 896 908 (12) (1) Provision for credit losses 27 25 21 7 14 2 8 13 93 73 19 54 NM Income before income tax expense 253 278 292 314 304 (25) (9) (51) (17) 823 889 (66) (7) Income tax expense 57 62 65 73 70 (5) (8) (13) (19) 184 203 (19) (9) Net income $196 $216 $227 $241 $234 ($20) (9%) ($38) (16%) $639 $686 ($47) (7%) AVERAGE BALANCES Total assets $55,614 $56,135 $55,630 $53,970 $52,871 ($521) (1%) $2,743 5% $55,793 $51,820 $3,973 8% 1 Total loans and leases 53,814 54,653 54,436 52,963 51,881 (839) (2) 1,933 4 54,299 50,799 3,500 7 Deposits 31,491 30,273 29,823 30,608 31,224 1,218 4 267 1 30,535 30,736 (201) (1) Interest-earning assets 54,087 54,950 54,724 53,221 52,137 (863) (2) 1,950 4 54,585 51,016 3,569 7 KEY METRICS Net interest margin 2.64% 2.71% 2.76% 2.86% 2.89% (7) bps (25) bps 2.70% 2.92% (22) bps Efficiency ratio 43.35 41.58 40.11 38.73 38.83 177 bps 452 bps 41.65 40.16 149 bps Loans-to-deposits ratio (period-end balances) 163.62 173.48 180.53 172.27 169.64 (986) bps (602) bps 163.62 169.64 (602) bps Loans-to-deposits ratio (average balances) 170.01 179.49 181.23 172.07 165.17 (948) bps 484 bps 176.75 164.08 1,267 bps Return on average total tangible assets 1.40 1.54 1.66 1.78 1.75 (14) bps (35) bps 1.53 1.77 (24) bps 1 Includes loans held for sale. 15SEGMENT FINANCIAL HIGHLIGHTS - COMMERCIAL BANKING (in millions, except ratio data) QUARTERLY TRENDS FOR THE NINE MONTHS ENDED SEPTEMBER 30, COMMERCIAL BANKING 3Q19 Change 2019 Change 3Q19 2Q19 1Q19 4Q18 3Q18 2Q19 3Q18 2019 2018 2018 $/bps % $/bps % $/bps % Net interest income $360 $371 $372 $384 $380 ($11) (3%) ($20) (5%) $1,103 $1,113 ($10) (1%) Noninterest income 133 149 150 140 140 (16) (11) (7) (5) 432 405 27 7 Total revenue 493 520 522 524 520 (27) (5) (27) (5) 1,535 1,518 17 1 Noninterest expense 213 217 209 203 202 (4) (2) 11 5 639 610 29 5 Profit before provision for credit losses 280 303 313 321 318 (23) (8) (38) (12) 896 908 (12) (1) Provision for credit losses 27 25 21 7 14 2 8 13 93 73 19 54 NM Income before income tax expense 253 278 292 314 304 (25) (9) (51) (17) 823 889 (66) (7) Income tax expense 57 62 65 73 70 (5) (8) (13) (19) 184 203 (19) (9) Net income $196 $216 $227 $241 $234 ($20) (9%) ($38) (16%) $639 $686 ($47) (7%) AVERAGE BALANCES Total assets $55,614 $56,135 $55,630 $53,970 $52,871 ($521) (1%) $2,743 5% $55,793 $51,820 $3,973 8% 1 Total loans and leases 53,814 54,653 54,436 52,963 51,881 (839) (2) 1,933 4 54,299 50,799 3,500 7 Deposits 31,491 30,273 29,823 30,608 31,224 1,218 4 267 1 30,535 30,736 (201) (1) Interest-earning assets 54,087 54,950 54,724 53,221 52,137 (863) (2) 1,950 4 54,585 51,016 3,569 7 KEY METRICS Net interest margin 2.64% 2.71% 2.76% 2.86% 2.89% (7) bps (25) bps 2.70% 2.92% (22) bps Efficiency ratio 43.35 41.58 40.11 38.73 38.83 177 bps 452 bps 41.65 40.16 149 bps Loans-to-deposits ratio (period-end balances) 163.62 173.48 180.53 172.27 169.64 (986) bps (602) bps 163.62 169.64 (602) bps Loans-to-deposits ratio (average balances) 170.01 179.49 181.23 172.07 165.17 (948) bps 484 bps 176.75 164.08 1,267 bps Return on average total tangible assets 1.40 1.54 1.66 1.78 1.75 (14) bps (35) bps 1.53 1.77 (24) bps 1 Includes loans held for sale. 15

SEGMENT FINANCIAL HIGHLIGHTS - OTHER (in millions) QUARTERLY TRENDS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 1 OTHER 3Q19 Change 2019 Change 3Q19 2Q19 1Q19 4Q18 3Q18 2Q19 3Q18 2019 2018 2018 $ % $ % $ % Net interest income ($14) ($4) $— ($8) ($8) ($10) (250%) ($6) (75%) ($18) ($21) $3 14% Noninterest income 24 36 31 16 18 (12) (33) 6 33 91 62 29 47 Total revenue 10 32 31 8 10 (22) (69) — — 73 41 32 78 Noninterest expense 42 19 28 25 22 23 121 20 91 89 58 31 53 (Loss) profit before provision for credit losses (32) 13 3 (17) (12) (45) NM (20) (167) (16) (17) 1 6 Provision for credit losses (9) (6) (3) (2) (7) (3) (50) (2) (29) (18) 13 (31) NM (Loss) income before income tax benefit (23) 19 6 (15) (5) (42) NM (18) NM 2 (30) 32 NM Income tax benefit (25) (5) (4) (46) (7) (20) NM (18) NM (34) (26) (8) (31) Net income (loss) $2 $24 $10 $31 $2 ($22) (92%) $— —% $36 ($4) $40 NM AVERAGE BALANCES Total assets $40,131 $39,869 $39,778 $39,575 $39,779 $262 1% $352 1% $39,927 $39,805 $122 —% 2 Total loans and leases 1,994 2,138 2,276 2,334 2,402 (144) (7) (408) (17) 2,134 2,484 (350) (14) Deposits 6,835 7,219 8,022 7,983 7,686 (384) (5) (851) (11) 7,354 7,486 (132) (2) Interest-earning assets 28,783 28,642 28,573 28,574 28,929 141 — (146) (1) 28,666 29,122 (456) (2) 1 Includes the financial impact of non-core, liquidating loan portfolios and other non-core assets, our treasury activities, wholesale funding activities, securities portfolio, community development assets and other unallocated assets, liabilities, capital, revenues, provision for credit losses, expenses and income tax expense, not attributed to our Consumer Banking or Commercial Banking segments. 2 Includes loans held for sale. 16SEGMENT FINANCIAL HIGHLIGHTS - OTHER (in millions) QUARTERLY TRENDS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 1 OTHER 3Q19 Change 2019 Change 3Q19 2Q19 1Q19 4Q18 3Q18 2Q19 3Q18 2019 2018 2018 $ % $ % $ % Net interest income ($14) ($4) $— ($8) ($8) ($10) (250%) ($6) (75%) ($18) ($21) $3 14% Noninterest income 24 36 31 16 18 (12) (33) 6 33 91 62 29 47 Total revenue 10 32 31 8 10 (22) (69) — — 73 41 32 78 Noninterest expense 42 19 28 25 22 23 121 20 91 89 58 31 53 (Loss) profit before provision for credit losses (32) 13 3 (17) (12) (45) NM (20) (167) (16) (17) 1 6 Provision for credit losses (9) (6) (3) (2) (7) (3) (50) (2) (29) (18) 13 (31) NM (Loss) income before income tax benefit (23) 19 6 (15) (5) (42) NM (18) NM 2 (30) 32 NM Income tax benefit (25) (5) (4) (46) (7) (20) NM (18) NM (34) (26) (8) (31) Net income (loss) $2 $24 $10 $31 $2 ($22) (92%) $— —% $36 ($4) $40 NM AVERAGE BALANCES Total assets $40,131 $39,869 $39,778 $39,575 $39,779 $262 1% $352 1% $39,927 $39,805 $122 —% 2 Total loans and leases 1,994 2,138 2,276 2,334 2,402 (144) (7) (408) (17) 2,134 2,484 (350) (14) Deposits 6,835 7,219 8,022 7,983 7,686 (384) (5) (851) (11) 7,354 7,486 (132) (2) Interest-earning assets 28,783 28,642 28,573 28,574 28,929 141 — (146) (1) 28,666 29,122 (456) (2) 1 Includes the financial impact of non-core, liquidating loan portfolios and other non-core assets, our treasury activities, wholesale funding activities, securities portfolio, community development assets and other unallocated assets, liabilities, capital, revenues, provision for credit losses, expenses and income tax expense, not attributed to our Consumer Banking or Commercial Banking segments. 2 Includes loans held for sale. 16

CREDIT-RELATED INFORMATION (in millions, except ratio data) AS OF SEPTEMBER 30, 2019 CHANGE Sept 30, 2019 June 30, 2019 Mar 31, 2019 Dec 31, 2018 Sept 30, 2018 June 30, 2019 Sept 30, 2018 $/bps % $/bps % NONPERFORMING ASSETS Commercial $228 $198 $208 $194 $228 $30 15% $— —% Commercial real estate 49 4 4 7 30 45 NM 19 63 Leases 4 17 — — — (13) (76) 4 100 Total commercial loans and leases 281 219 212 201 258 62 28 23 9 Residential mortgages 147 141 138 136 136 6 4 11 8 Home equity loans 36 38 42 50 53 (2) (5) (17) (32) Home equity lines of credit 184 210 217 231 221 (26) (12) (37) (17) Home equity loans serviced by others 14 16 15 17 19 (2) (13) (5) (26) Home equity lines of credit serviced by others 13 14 14 15 16 (1) (7) (3) (19) Automobile 69 62 70 81 67 7 11 2 3 Education 17 40 43 38 38 (23) (58) (21) (55) Credit card 21 20 22 20 17 1 5 4 24 Other retail 11 10 7 8 7 1 10 4 57 Total retail loans 512 551 568 596 574 (39) (7) (62) (11) Nonperforming loans and leases 793 770 780 797 832 23 3 (39) (5) Other nonperforming assets - Retail 40 32 34 34 31 8 25 9 29 Nonperforming assets $833 $802 $814 $831 $863 $31 4% ($30) (3%) NONPERFORMING ASSETS BY PRODUCT Commercial $281 $219 $212 $201 $258 $62 28% $23 9% Retail 552 583 602 630 605 (31) (5) (53) (9) Total nonperforming assets $833 $802 $814 $831 $863 $31 4% ($30) (3%) ASSET QUALITY RATIOS Allowance for loan and lease losses to loans and leases 1.07% 1.05% 1.06% 1.06% 1.08% 2 bps (1) bps Allowance for loan and lease losses to nonperforming loans and leases 159.32 159.43 159.68 155.99 149.29 (11) NM Nonperforming loans and leases to loans and leases 0.67 0.66 0.66 0.68 0.73 1 (6) Nonperforming assets to total assets 0.51 0.49 0.50 0.52 0.54 2 (3) 17CREDIT-RELATED INFORMATION (in millions, except ratio data) AS OF SEPTEMBER 30, 2019 CHANGE Sept 30, 2019 June 30, 2019 Mar 31, 2019 Dec 31, 2018 Sept 30, 2018 June 30, 2019 Sept 30, 2018 $/bps % $/bps % NONPERFORMING ASSETS Commercial $228 $198 $208 $194 $228 $30 15% $— —% Commercial real estate 49 4 4 7 30 45 NM 19 63 Leases 4 17 — — — (13) (76) 4 100 Total commercial loans and leases 281 219 212 201 258 62 28 23 9 Residential mortgages 147 141 138 136 136 6 4 11 8 Home equity loans 36 38 42 50 53 (2) (5) (17) (32) Home equity lines of credit 184 210 217 231 221 (26) (12) (37) (17) Home equity loans serviced by others 14 16 15 17 19 (2) (13) (5) (26) Home equity lines of credit serviced by others 13 14 14 15 16 (1) (7) (3) (19) Automobile 69 62 70 81 67 7 11 2 3 Education 17 40 43 38 38 (23) (58) (21) (55) Credit card 21 20 22 20 17 1 5 4 24 Other retail 11 10 7 8 7 1 10 4 57 Total retail loans 512 551 568 596 574 (39) (7) (62) (11) Nonperforming loans and leases 793 770 780 797 832 23 3 (39) (5) Other nonperforming assets - Retail 40 32 34 34 31 8 25 9 29 Nonperforming assets $833 $802 $814 $831 $863 $31 4% ($30) (3%) NONPERFORMING ASSETS BY PRODUCT Commercial $281 $219 $212 $201 $258 $62 28% $23 9% Retail 552 583 602 630 605 (31) (5) (53) (9) Total nonperforming assets $833 $802 $814 $831 $863 $31 4% ($30) (3%) ASSET QUALITY RATIOS Allowance for loan and lease losses to loans and leases 1.07% 1.05% 1.06% 1.06% 1.08% 2 bps (1) bps Allowance for loan and lease losses to nonperforming loans and leases 159.32 159.43 159.68 155.99 149.29 (11) NM Nonperforming loans and leases to loans and leases 0.67 0.66 0.66 0.68 0.73 1 (6) Nonperforming assets to total assets 0.51 0.49 0.50 0.52 0.54 2 (3) 17

CREDIT-RELATED INFORMATION, CONTINUED (in millions) QUARTERLY TRENDS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 3Q19 Change 2019 Change 3Q19 2Q19 1Q19 4Q18 3Q18 2Q19 3Q18 2019 2018 2018 $ % $ % $ % CHARGE-OFFS, RECOVERIES AND RELATED RATIOS GROSS CHARGE-OFFS Commercial $20 $40 $3 $17 $14 ($20) (50%) $6 43% $63 $31 $32 103% Commercial real estate 10 — 20 — 4 10 100 6 150 30 4 26 NM Leases 5 5 3 — — — — 5 100 13 — 13 100 Total commercial loans and leases 35 45 26 17 18 (10) (22) 17 94 106 35 71 203 Residential mortgages 2 2 2 2 2 — — — — 6 6 — — Home equity loans 1 3 1 1 1 (2) (67) — — 5 5 — — Home equity lines of credit 7 7 5 6 6 — — 1 17 19 20 (1) (5) Home equity loans serviced by others 2 1 1 3 1 1 100 1 100 4 6 (2) (33) Home equity lines of credit serviced by others 1 — — 1 1 1 100 — — 1 3 (2) (67) Automobile 37 30 38 37 39 7 23 (2) (5) 105 121 (16) (13) Education 18 18 16 17 17 — — 1 6 52 51 1 2 Credit card 20 21 19 17 17 (1) (5) 3 18 60 51 9 18 Other retail 36 29 30 30 25 7 24 11 44 95 65 30 46 Total retail loans 124 111 112 114 109 13 12 15 14 347 328 19 6 Total gross charge-offs $159 $156 $138 $131 $127 $3 2% $32 25% $453 $363 $90 25% GROSS RECOVERIES Commercial $3 $12 $2 $6 $2 ($9) (75%) $1 50% $17 $9 $8 89% Commercial real estate — — — 3 — — — — — — 1 (1) (100) Leases — — — — — — — — — — — — — Total commercial loans and leases 3 12 2 9 2 (9) (75) 1 50 17 10 7 70 Residential mortgages 1 2 5 1 1 (1) (50) — — 8 4 4 100 Home equity loans 2 2 4 2 2 — — — — 8 9 (1) (11) Home equity lines of credit 5 4 9 4 4 1 25 1 25 18 12 6 50 Home equity loans serviced by others 4 3 3 4 4 1 33 — — 10 11 (1) (9) Home equity lines of credit serviced by others 1 1 1 2 2 — — (1) (50) 3 5 (2) (40) Automobile 15 16 15 15 16 (1) (6) (1) (6) 46 52 (6) (12) Education 4 4 4 4 4 — — — — 12 12 — — Credit card 2 2 2 2 2 — — — — 6 6 — — Other retail 9 4 4 3 4 5 125 5 125 17 10 7 70 Total retail loans 43 38 47 37 39 5 13 4 10 128 121 7 6 Total gross recoveries $46 $50 $49 $46 $41 ($4) (8%) $5 12% $145 $131 $14 11% NET CHARGE-OFFS (RECOVERIES) Commercial $17 $28 $1 $11 $12 ($11) (39%) $5 42% $46 $22 $24 109% Commercial real estate 10 — 20 (3) 4 10 100 6 150 30 3 27 NM Leases 5 5 3 — — — — 5 100 13 — 13 100 Total commercial loans and leases 32 33 24 8 16 (1) (3) 16 100 89 25 64 NM Residential mortgages 1 — (3) 1 1 1 100 — — (2) 2 (4) NM Home equity loans (1) 1 (3) (1) (1) (2) NM — — (3) (4) 1 25 Home equity lines of credit 2 3 (4) 2 2 (1) (33) — — 1 8 (7) (88) Home equity loans serviced by others (2) (2) (2) (1) (3) — — 1 33 (6) (5) (1) (20) Home equity lines of credit serviced by others — (1) (1) (1) (1) 1 100 1 100 (2) (2) — — Automobile 22 14 23 22 23 8 57 (1) (4) 59 69 (10) (14) Education 14 14 12 13 13 — — 1 8 40 39 1 3 Credit card 18 19 17 15 15 (1) (5) 3 20 54 45 9 20 Other retail 27 25 26 27 21 2 8 6 29 78 55 23 42 Total retail loans 81 73 65 77 70 8 11 11 16 219 207 12 6 Total net charge-offs (recoveries) $113 $106 $89 $85 $86 $7 7% $27 31% $308 $232 $76 33% 18CREDIT-RELATED INFORMATION, CONTINUED (in millions) QUARTERLY TRENDS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 3Q19 Change 2019 Change 3Q19 2Q19 1Q19 4Q18 3Q18 2Q19 3Q18 2019 2018 2018 $ % $ % $ % CHARGE-OFFS, RECOVERIES AND RELATED RATIOS GROSS CHARGE-OFFS Commercial $20 $40 $3 $17 $14 ($20) (50%) $6 43% $63 $31 $32 103% Commercial real estate 10 — 20 — 4 10 100 6 150 30 4 26 NM Leases 5 5 3 — — — — 5 100 13 — 13 100 Total commercial loans and leases 35 45 26 17 18 (10) (22) 17 94 106 35 71 203 Residential mortgages 2 2 2 2 2 — — — — 6 6 — — Home equity loans 1 3 1 1 1 (2) (67) — — 5 5 — — Home equity lines of credit 7 7 5 6 6 — — 1 17 19 20 (1) (5) Home equity loans serviced by others 2 1 1 3 1 1 100 1 100 4 6 (2) (33) Home equity lines of credit serviced by others 1 — — 1 1 1 100 — — 1 3 (2) (67) Automobile 37 30 38 37 39 7 23 (2) (5) 105 121 (16) (13) Education 18 18 16 17 17 — — 1 6 52 51 1 2 Credit card 20 21 19 17 17 (1) (5) 3 18 60 51 9 18 Other retail 36 29 30 30 25 7 24 11 44 95 65 30 46 Total retail loans 124 111 112 114 109 13 12 15 14 347 328 19 6 Total gross charge-offs $159 $156 $138 $131 $127 $3 2% $32 25% $453 $363 $90 25% GROSS RECOVERIES Commercial $3 $12 $2 $6 $2 ($9) (75%) $1 50% $17 $9 $8 89% Commercial real estate — — — 3 — — — — — — 1 (1) (100) Leases — — — — — — — — — — — — — Total commercial loans and leases 3 12 2 9 2 (9) (75) 1 50 17 10 7 70 Residential mortgages 1 2 5 1 1 (1) (50) — — 8 4 4 100 Home equity loans 2 2 4 2 2 — — — — 8 9 (1) (11) Home equity lines of credit 5 4 9 4 4 1 25 1 25 18 12 6 50 Home equity loans serviced by others 4 3 3 4 4 1 33 — — 10 11 (1) (9) Home equity lines of credit serviced by others 1 1 1 2 2 — — (1) (50) 3 5 (2) (40) Automobile 15 16 15 15 16 (1) (6) (1) (6) 46 52 (6) (12) Education 4 4 4 4 4 — — — — 12 12 — — Credit card 2 2 2 2 2 — — — — 6 6 — — Other retail 9 4 4 3 4 5 125 5 125 17 10 7 70 Total retail loans 43 38 47 37 39 5 13 4 10 128 121 7 6 Total gross recoveries $46 $50 $49 $46 $41 ($4) (8%) $5 12% $145 $131 $14 11% NET CHARGE-OFFS (RECOVERIES) Commercial $17 $28 $1 $11 $12 ($11) (39%) $5 42% $46 $22 $24 109% Commercial real estate 10 — 20 (3) 4 10 100 6 150 30 3 27 NM Leases 5 5 3 — — — — 5 100 13 — 13 100 Total commercial loans and leases 32 33 24 8 16 (1) (3) 16 100 89 25 64 NM Residential mortgages 1 — (3) 1 1 1 100 — — (2) 2 (4) NM Home equity loans (1) 1 (3) (1) (1) (2) NM — — (3) (4) 1 25 Home equity lines of credit 2 3 (4) 2 2 (1) (33) — — 1 8 (7) (88) Home equity loans serviced by others (2) (2) (2) (1) (3) — — 1 33 (6) (5) (1) (20) Home equity lines of credit serviced by others — (1) (1) (1) (1) 1 100 1 100 (2) (2) — — Automobile 22 14 23 22 23 8 57 (1) (4) 59 69 (10) (14) Education 14 14 12 13 13 — — 1 8 40 39 1 3 Credit card 18 19 17 15 15 (1) (5) 3 20 54 45 9 20 Other retail 27 25 26 27 21 2 8 6 29 78 55 23 42 Total retail loans 81 73 65 77 70 8 11 11 16 219 207 12 6 Total net charge-offs (recoveries) $113 $106 $89 $85 $86 $7 7% $27 31% $308 $232 $76 33% 18

CREDIT-RELATED INFORMATION, CONTINUED (in millions, except rates) QUARTERLY TRENDS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 3Q19 Change 2019 Change 3Q19 2Q19 1Q19 4Q18 3Q18 2Q19 3Q18 2019 2018 2018 $/bps % $/bps % $/bps % ANNUALIZED NET CHARGE-OFF (RECOVERY) RATES Commercial 0.16% 0.27% 0.01% 0.11% 0.13% (11) bps 3 bps 0.15% 0.08% 7 bps Commercial real estate 0.31 — 0.62 (0.11) 0.11 31 bps 20 bps 0.30 0.04 26 bps Leases 0.80 0.72 0.42 — — 8 bps 80 bps 0.64 — 64 bps Total commercial loans and leases 0.22 0.23 0.17 0.05 0.12 (1) bps 10 bps 0.21 0.06 15 bps Residential mortgages 0.01 0.01 (0.07) 0.01 0.02 — bps (1) bps (0.01) 0.01 (2) bps Home equity loans (0.59) 0.33 (1.32) (0.21) (0.50) (92) bps (9) bps (0.54) (0.38) (16) bps Home equity lines of credit 0.08 0.07 (0.11) 0.07 0.04 1 bps 4 bps 0.01 0.08 (7) bps Home equity loans serviced by others (2.91) (2.26) (1.70) (1.45) (2.03) (65) bps (88) bps (2.26) (1.36) (90) bps Home equity lines of credit serviced by others (1.37) (3.07) (2.52) (3.87) (4.97) 170 bps 360 bps (2.35) (2.52) 17 bps Automobile 0.74 0.49 0.77 0.71 0.76 25 bps (2) bps 0.67 0.73 (6) bps Education 0.58 0.62 0.51 0.59 0.61 (4) bps (3) bps 0.57 0.62 (5) bps Credit card 3.35 3.71 3.33 3.09 3.06 (36) bps 29 bps 3.46 3.21 25 bps Other retail 2.93 2.78 2.91 3.07 2.64 15 bps 29 bps 2.87 2.46 41 bps Total retail loans 0.53 0.49 0.44 0.51 0.47 4 bps 6 bps 0.49 0.47 2 bps Total loans and leases 0.38% 0.36% 0.31% 0.29% 0.30% 2 bps 8 bps 0.35% 0.27% 8 bps Memo: Average loans Commercial $41,476 $41,755 $41,562 $40,472 $39,592 ($279) (1%) $1,884 5% $41,597 $38,990 $2,607 7% Commercial real estate 12,892 13,379 13,272 12,900 12,656 (487) (4) 236 2 13,179 12,096 1,083 9 Leases 2,615 2,745 2,873 2,938 3,028 (130) (5) (413) (14) 2,744 3,071 (327) (11) Total commercial loans and leases 56,983 57,879 57,707 56,310 55,276 (896) (2) 1,707 3 57,520 54,157 3,363 6 Residential mortgages 19,405 19,232 19,094 18,713 18,147 173 1 1,258 7 19,245 17,603 1,642 9 Home equity loans 906 971 1,039 1,101 1,168 (65) (7) (262) (22) 971 1,253 (282) (23) Home equity lines of credit 12,182 12,332 12,552 12,790 12,925 (150) (1) (743) (6) 12,354 13,129 (775) (6) Home equity loans serviced by others 330 359 385 411 444 (29) (8) (114) (26) 358 481 (123) (26) Home equity lines of credit serviced by others 83 92 99 108 118 (9) (10) (35) (30) 91 130 (39) (30) Automobile 12,036 11,984 12,070 12,179 12,379 52 — (343) (3) 12,030 12,681 (651) (5) Education 9,459 9,235 9,069 8,801 8,481 224 2 978 12 9,256 8,380 876 10 Credit card 2,103 2,041 1,998 1,973 1,909 62 3 194 10 2,048 1,864 184 10 Other retail 3,770 3,658 3,636 3,507 3,124 112 3 646 21 3,688 2,980 708 24 Total retail loans 60,274 59,904 59,942 59,583 58,695 370 1 1,579 3 60,041 58,501 1,540 3 Total loans and leases $117,257 $117,783 $117,649 $115,893 $113,971 ($526) —% $3,286 3% $117,561 $112,658 $4,903 4% 19CREDIT-RELATED INFORMATION, CONTINUED (in millions, except rates) QUARTERLY TRENDS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 3Q19 Change 2019 Change 3Q19 2Q19 1Q19 4Q18 3Q18 2Q19 3Q18 2019 2018 2018 $/bps % $/bps % $/bps % ANNUALIZED NET CHARGE-OFF (RECOVERY) RATES Commercial 0.16% 0.27% 0.01% 0.11% 0.13% (11) bps 3 bps 0.15% 0.08% 7 bps Commercial real estate 0.31 — 0.62 (0.11) 0.11 31 bps 20 bps 0.30 0.04 26 bps Leases 0.80 0.72 0.42 — — 8 bps 80 bps 0.64 — 64 bps Total commercial loans and leases 0.22 0.23 0.17 0.05 0.12 (1) bps 10 bps 0.21 0.06 15 bps Residential mortgages 0.01 0.01 (0.07) 0.01 0.02 — bps (1) bps (0.01) 0.01 (2) bps Home equity loans (0.59) 0.33 (1.32) (0.21) (0.50) (92) bps (9) bps (0.54) (0.38) (16) bps Home equity lines of credit 0.08 0.07 (0.11) 0.07 0.04 1 bps 4 bps 0.01 0.08 (7) bps Home equity loans serviced by others (2.91) (2.26) (1.70) (1.45) (2.03) (65) bps (88) bps (2.26) (1.36) (90) bps Home equity lines of credit serviced by others (1.37) (3.07) (2.52) (3.87) (4.97) 170 bps 360 bps (2.35) (2.52) 17 bps Automobile 0.74 0.49 0.77 0.71 0.76 25 bps (2) bps 0.67 0.73 (6) bps Education 0.58 0.62 0.51 0.59 0.61 (4) bps (3) bps 0.57 0.62 (5) bps Credit card 3.35 3.71 3.33 3.09 3.06 (36) bps 29 bps 3.46 3.21 25 bps Other retail 2.93 2.78 2.91 3.07 2.64 15 bps 29 bps 2.87 2.46 41 bps Total retail loans 0.53 0.49 0.44 0.51 0.47 4 bps 6 bps 0.49 0.47 2 bps Total loans and leases 0.38% 0.36% 0.31% 0.29% 0.30% 2 bps 8 bps 0.35% 0.27% 8 bps Memo: Average loans Commercial $41,476 $41,755 $41,562 $40,472 $39,592 ($279) (1%) $1,884 5% $41,597 $38,990 $2,607 7% Commercial real estate 12,892 13,379 13,272 12,900 12,656 (487) (4) 236 2 13,179 12,096 1,083 9 Leases 2,615 2,745 2,873 2,938 3,028 (130) (5) (413) (14) 2,744 3,071 (327) (11) Total commercial loans and leases 56,983 57,879 57,707 56,310 55,276 (896) (2) 1,707 3 57,520 54,157 3,363 6 Residential mortgages 19,405 19,232 19,094 18,713 18,147 173 1 1,258 7 19,245 17,603 1,642 9 Home equity loans 906 971 1,039 1,101 1,168 (65) (7) (262) (22) 971 1,253 (282) (23) Home equity lines of credit 12,182 12,332 12,552 12,790 12,925 (150) (1) (743) (6) 12,354 13,129 (775) (6) Home equity loans serviced by others 330 359 385 411 444 (29) (8) (114) (26) 358 481 (123) (26) Home equity lines of credit serviced by others 83 92 99 108 118 (9) (10) (35) (30) 91 130 (39) (30) Automobile 12,036 11,984 12,070 12,179 12,379 52 — (343) (3) 12,030 12,681 (651) (5) Education 9,459 9,235 9,069 8,801 8,481 224 2 978 12 9,256 8,380 876 10 Credit card 2,103 2,041 1,998 1,973 1,909 62 3 194 10 2,048 1,864 184 10 Other retail 3,770 3,658 3,636 3,507 3,124 112 3 646 21 3,688 2,980 708 24 Total retail loans 60,274 59,904 59,942 59,583 58,695 370 1 1,579 3 60,041 58,501 1,540 3 Total loans and leases $117,257 $117,783 $117,649 $115,893 $113,971 ($526) —% $3,286 3% $117,561 $112,658 $4,903 4% 19

CREDIT-RELATED INFORMATION, CONTINUED (in millions) QUARTERLY TRENDS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 3Q19 Change 2019 Change 3Q19 2Q19 1Q19 4Q18 3Q18 2Q19 3Q18 2019 2018 2018 $ % $ % $ % SUMMARY OF CHANGES IN THE COMPONENTS OF THE ALLOWANCE FOR CREDIT LOSSES Allowance for loan and lease losses - beginning $1,227 $1,245 $1,242 $1,242 $1,253 ($18) (1%) ($26) (2%) $1,242 $1,236 $6 —% Charge-offs: Commercial 35 45 26 17 18 (10) (22) 17 94 106 35 71 203 Retail 124 111 112 114 109 13 12 15 14 347 328 19 6 Total charge-offs 159 156 138 131 127 3 2 32 25 453 363 90 25 Recoveries: Commercial 3 12 2 9 2 (9) (75) 1 50 17 10 7 70 Retail 43 38 47 37 39 5 13 4 10 128 121 7 6 Total recoveries 46 50 49 46 41 (4) (8) 5 12 145 131 14 11 Net charge-offs 113 106 89 85 86 7 7 27 31 308 232 76 33 Provision for loan and lease losses: Commercial 64 22 25 (9) 8 42 191 56 NM 111 47 64 136 Retail 85 66 67 94 67 19 29 18 27 218 191 27 14 Total provision for loan and lease losses 149 88 92 85 75 61 69 74 99 329 238 91 38 Allowance for loan and lease losses - ending $1,263 $1,227 $1,245 $1,242 $1,242 $36 3% $21 2% $1,263 $1,242 $21 2% Reserve for unfunded lending commitments - beginning $93 $84 $91 $91 $88 $9 11% $5 6% $91 $88 $3 3% Provision for unfunded lending commitments (48) 9 (7) — 3 (57) NM (51) NM (46) 3 (49) NM Reserve for unfunded lending commitments - ending $45 $93 $84 $91 $91 ($48) (52%) ($46) (51%) $45 $91 ($46) (51%) Total allowance for credit losses - ending $1,308 $1,320 $1,329 $1,333 $1,333 ($12) (1%) ($25) (2%) $1,308 $1,333 ($25) (2%) Memo: Total allowance for credit losses by product Commercial $757 $773 $775 $781 $798 ($16) (2%) ($41) (5%) $757 $798 ($41) (5%) Retail 551 547 554 552 535 4 1 16 3 551 535 16 3 Total allowance for credit losses $1,308 $1,320 $1,329 $1,333 $1,333 ($12) (1%) ($25) (2%) $1,308 $1,333 ($25) (2%) 20CREDIT-RELATED INFORMATION, CONTINUED (in millions) QUARTERLY TRENDS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 3Q19 Change 2019 Change 3Q19 2Q19 1Q19 4Q18 3Q18 2Q19 3Q18 2019 2018 2018 $ % $ % $ % SUMMARY OF CHANGES IN THE COMPONENTS OF THE ALLOWANCE FOR CREDIT LOSSES Allowance for loan and lease losses - beginning $1,227 $1,245 $1,242 $1,242 $1,253 ($18) (1%) ($26) (2%) $1,242 $1,236 $6 —% Charge-offs: Commercial 35 45 26 17 18 (10) (22) 17 94 106 35 71 203 Retail 124 111 112 114 109 13 12 15 14 347 328 19 6 Total charge-offs 159 156 138 131 127 3 2 32 25 453 363 90 25 Recoveries: Commercial 3 12 2 9 2 (9) (75) 1 50 17 10 7 70 Retail 43 38 47 37 39 5 13 4 10 128 121 7 6 Total recoveries 46 50 49 46 41 (4) (8) 5 12 145 131 14 11 Net charge-offs 113 106 89 85 86 7 7 27 31 308 232 76 33 Provision for loan and lease losses: Commercial 64 22 25 (9) 8 42 191 56 NM 111 47 64 136 Retail 85 66 67 94 67 19 29 18 27 218 191 27 14 Total provision for loan and lease losses 149 88 92 85 75 61 69 74 99 329 238 91 38 Allowance for loan and lease losses - ending $1,263 $1,227 $1,245 $1,242 $1,242 $36 3% $21 2% $1,263 $1,242 $21 2% Reserve for unfunded lending commitments - beginning $93 $84 $91 $91 $88 $9 11% $5 6% $91 $88 $3 3% Provision for unfunded lending commitments (48) 9 (7) — 3 (57) NM (51) NM (46) 3 (49) NM Reserve for unfunded lending commitments - ending $45 $93 $84 $91 $91 ($48) (52%) ($46) (51%) $45 $91 ($46) (51%) Total allowance for credit losses - ending $1,308 $1,320 $1,329 $1,333 $1,333 ($12) (1%) ($25) (2%) $1,308 $1,333 ($25) (2%) Memo: Total allowance for credit losses by product Commercial $757 $773 $775 $781 $798 ($16) (2%) ($41) (5%) $757 $798 ($41) (5%) Retail 551 547 554 552 535 4 1 16 3 551 535 16 3 Total allowance for credit losses $1,308 $1,320 $1,329 $1,333 $1,333 ($12) (1%) ($25) (2%) $1,308 $1,333 ($25) (2%) 20

CAPITAL AND RATIOS (in millions, except ratio data) AS OF FOR THE NINE MONTHS ENDED SEPTEMBER 30, SEPTEMBER 30, 2019 CHANGE 2019 Change Sept 30, June 30, Mar 31, Dec 31, Sept 30, 2019 2019 2019 2018 2018 June 30, 2019 Sept 30, 2018 2019 2018 2018 $ % $ % $ % CAPITAL RATIOS AND COMPONENTS (PRELIMINARY) CET1 capital $14,416 $14,629 $14,442 $14,485 $14,435 ($213) (1%) ($19) —% Tier 1 capital 15,549 15,762 15,574 15,325 14,978 (213) (1) 571 4 Total capital 18,237 18,582 18,403 18,157 17,810 (345) (2) 427 2 Risk-weighted assets 140,136 138,879 137,246 136,202 133,249 1,257 1 6,887 5 1 Adjusted average assets 156,355 155,956 155,171 153,026 150,717 399 — 5,638 4 CET1 capital ratio 10.3% 10.5% 10.5% 10.6% 10.8% Tier 1 capital ratio 11.1 11.3 11.3 11.3 11.2 Total capital ratio 13.0 13.4 13.4 13.3 13.4 Tier 1 leverage ratio 9.9 10.1 10.0 10.0 9.9 TANGIBLE COMMON EQUITY (PERIOD-END) Common stockholders' equity $20,718 $20,884 $20,399 $19,977 $19,733 ($166) (1%) $985 5% $20,718 $19,733 $985 5% Less: Goodwill 7,044 7,040 7,040 6,923 6,946 4 — 98 1 7,044 6,946 98 1 Less: Other intangible assets 71 74 80 31 33 (3) (4) 38 115 71 33 38 115 2 Add: Deferred tax liabilities 373 371 370 366 363 2 1 10 3 373 363 10 3 Total tangible common equity $13,976 $14,141 $13,649 $13,389 $13,117 ($165) (1%) $859 7% $13,976 $13,117 $859 7% TANGIBLE COMMON EQUITY (AVERAGE) Common stockholders' equity $20,533 $20,420 $19,942 $19,521 $19,599 $113 1% $934 5% $20,300 $19,687 $613 3% Less: Goodwill 7,044 7,040 7,018 6,946 6,926 4 — 118 2 7,034 6,900 134 2 Less: Other intangible assets 73 80 59 32 22 (7) (9) 51 232 71 9 62 NM 2 Add: Deferred tax liabilities 372 370 368 364 360 2 1 12 3 371 358 13 4 Total tangible common equity $13,788 $13,670 $13,233 $12,907 $13,011 $118 1% $777 6% $13,566 $13,136 $430 3% INTANGIBLE ASSETS (PERIOD-END) Goodwill $7,044 $7,040 $7,040 $6,923 $6,946 $4 —% $98 1% $7,044 $6,946 $98 1% Other intangible assets 71 74 80 31 33 (3) (4) 38 115 71 33 38 115 Total intangible assets $7,115 $7,114 $7,120 $6,954 $6,979 $1 —% $136 2% $7,115 $6,979 $136 2% 1 Adjusted average assets include quarterly average assets, less deductions for disallowed goodwill and other intangible assets, net of deferred tax liabilities related to tax deductible goodwill, and the accumulated other comprehensive income impact related to the adoption of post-retirement benefit plan guidance under GAAP. 2 Deferred tax liabilities relate to tax-deductible goodwill, which is netted against goodwill when calculating tangible common equity. 21CAPITAL AND RATIOS (in millions, except ratio data) AS OF FOR THE NINE MONTHS ENDED SEPTEMBER 30, SEPTEMBER 30, 2019 CHANGE 2019 Change Sept 30, June 30, Mar 31, Dec 31, Sept 30, 2019 2019 2019 2018 2018 June 30, 2019 Sept 30, 2018 2019 2018 2018 $ % $ % $ % CAPITAL RATIOS AND COMPONENTS (PRELIMINARY) CET1 capital $14,416 $14,629 $14,442 $14,485 $14,435 ($213) (1%) ($19) —% Tier 1 capital 15,549 15,762 15,574 15,325 14,978 (213) (1) 571 4 Total capital 18,237 18,582 18,403 18,157 17,810 (345) (2) 427 2 Risk-weighted assets 140,136 138,879 137,246 136,202 133,249 1,257 1 6,887 5 1 Adjusted average assets 156,355 155,956 155,171 153,026 150,717 399 — 5,638 4 CET1 capital ratio 10.3% 10.5% 10.5% 10.6% 10.8% Tier 1 capital ratio 11.1 11.3 11.3 11.3 11.2 Total capital ratio 13.0 13.4 13.4 13.3 13.4 Tier 1 leverage ratio 9.9 10.1 10.0 10.0 9.9 TANGIBLE COMMON EQUITY (PERIOD-END) Common stockholders' equity $20,718 $20,884 $20,399 $19,977 $19,733 ($166) (1%) $985 5% $20,718 $19,733 $985 5% Less: Goodwill 7,044 7,040 7,040 6,923 6,946 4 — 98 1 7,044 6,946 98 1 Less: Other intangible assets 71 74 80 31 33 (3) (4) 38 115 71 33 38 115 2 Add: Deferred tax liabilities 373 371 370 366 363 2 1 10 3 373 363 10 3 Total tangible common equity $13,976 $14,141 $13,649 $13,389 $13,117 ($165) (1%) $859 7% $13,976 $13,117 $859 7% TANGIBLE COMMON EQUITY (AVERAGE) Common stockholders' equity $20,533 $20,420 $19,942 $19,521 $19,599 $113 1% $934 5% $20,300 $19,687 $613 3% Less: Goodwill 7,044 7,040 7,018 6,946 6,926 4 — 118 2 7,034 6,900 134 2 Less: Other intangible assets 73 80 59 32 22 (7) (9) 51 232 71 9 62 NM 2 Add: Deferred tax liabilities 372 370 368 364 360 2 1 12 3 371 358 13 4 Total tangible common equity $13,788 $13,670 $13,233 $12,907 $13,011 $118 1% $777 6% $13,566 $13,136 $430 3% INTANGIBLE ASSETS (PERIOD-END) Goodwill $7,044 $7,040 $7,040 $6,923 $6,946 $4 —% $98 1% $7,044 $6,946 $98 1% Other intangible assets 71 74 80 31 33 (3) (4) 38 115 71 33 38 115 Total intangible assets $7,115 $7,114 $7,120 $6,954 $6,979 $1 —% $136 2% $7,115 $6,979 $136 2% 1 Adjusted average assets include quarterly average assets, less deductions for disallowed goodwill and other intangible assets, net of deferred tax liabilities related to tax deductible goodwill, and the accumulated other comprehensive income impact related to the adoption of post-retirement benefit plan guidance under GAAP. 2 Deferred tax liabilities relate to tax-deductible goodwill, which is netted against goodwill when calculating tangible common equity. 21

KEY PERFORMANCE METRICS, NON-GAAP FINANCIAL MEASURES AND RECONCILIATIONS (in millions, except share, per-share and ratio data) Key Performance Metrics: Our Management uses certain key performance metrics (KPMs) to gauge our progress against strategic and operational goals, as well as to compare our performance against peers. The KPMs are referred to in our Registration Statements on Form S-1 and our external financial reports filed with the Securities and Exchange Commission. The KPMs include: • Return on average tangible common equity (ROTCE); • Return on average total tangible assets (ROTA); • Efficiency ratio; • Operating leverage; and • Common equity tier 1 capital ratio. Established targets for the KPMs are based on Management-reporting results which are currently referred to by the Company as “Underlying” results. In historical periods, these results may have been referred to as “Adjusted” or “Adjusted/Underlying” results. We believe that Underlying results, which exclude notable items, provide the best representation of our underlying financial progress toward the KPMs as the results exclude items that our Management does not consider indicative of our on-going financial performance. We have consistently shown investors our KPMs on a Management-reporting basis since our initial public offering in September of 2014. KPMs that reflect Underlying results are considered non-GAAP financial measures. Non-GAAP Financial Measures This document contains non-GAAP financial measures denoted as Underlying results. In historical periods, these results may have been referred to as Adjusted or Adjusted/Underlying results. Underlying results for any given reporting period exclude certain items that may occur in that period which Management does not consider indicative of the Company’s on-going financial performance. We believe these non-GAAP financial measures provide useful information to investors because they are used by our Management to evaluate our operating performance and make day-to-day operating decisions. In addition, we believe our Underlying results in any given reporting period reflect our on-going financial performance in that period and, accordingly, are useful to consider in addition to our GAAP financial results. We further believe the presentation of Underlying results increases comparability of period-to-period results. The following tables present reconciliations of our non-GAAP measures to the most directly comparable GAAP financial measures. Other companies may use similarly titled non-GAAP financial measures that are calculated differently from the way we calculate such measures. Accordingly, our non-GAAP financial measures may not be comparable to similar measures used by such companies. We caution investors not to place undue reliance on such non-GAAP financial measures, but to consider them with the most directly comparable GAAP measures. Non-GAAP financial measures have limitations as analytical tools and should not be considered in isolation or as a substitute for our results reported under GAAP. 22KEY PERFORMANCE METRICS, NON-GAAP FINANCIAL MEASURES AND RECONCILIATIONS (in millions, except share, per-share and ratio data) Key Performance Metrics: Our Management uses certain key performance metrics (KPMs) to gauge our progress against strategic and operational goals, as well as to compare our performance against peers. The KPMs are referred to in our Registration Statements on Form S-1 and our external financial reports filed with the Securities and Exchange Commission. The KPMs include: • Return on average tangible common equity (ROTCE); • Return on average total tangible assets (ROTA); • Efficiency ratio; • Operating leverage; and • Common equity tier 1 capital ratio. Established targets for the KPMs are based on Management-reporting results which are currently referred to by the Company as “Underlying” results. In historical periods, these results may have been referred to as “Adjusted” or “Adjusted/Underlying” results. We believe that Underlying results, which exclude notable items, provide the best representation of our underlying financial progress toward the KPMs as the results exclude items that our Management does not consider indicative of our on-going financial performance. We have consistently shown investors our KPMs on a Management-reporting basis since our initial public offering in September of 2014. KPMs that reflect Underlying results are considered non-GAAP financial measures. Non-GAAP Financial Measures This document contains non-GAAP financial measures denoted as Underlying results. In historical periods, these results may have been referred to as Adjusted or Adjusted/Underlying results. Underlying results for any given reporting period exclude certain items that may occur in that period which Management does not consider indicative of the Company’s on-going financial performance. We believe these non-GAAP financial measures provide useful information to investors because they are used by our Management to evaluate our operating performance and make day-to-day operating decisions. In addition, we believe our Underlying results in any given reporting period reflect our on-going financial performance in that period and, accordingly, are useful to consider in addition to our GAAP financial results. We further believe the presentation of Underlying results increases comparability of period-to-period results. The following tables present reconciliations of our non-GAAP measures to the most directly comparable GAAP financial measures. Other companies may use similarly titled non-GAAP financial measures that are calculated differently from the way we calculate such measures. Accordingly, our non-GAAP financial measures may not be comparable to similar measures used by such companies. We caution investors not to place undue reliance on such non-GAAP financial measures, but to consider them with the most directly comparable GAAP measures. Non-GAAP financial measures have limitations as analytical tools and should not be considered in isolation or as a substitute for our results reported under GAAP. 22

KEY PERFORMANCE METRICS, NON-GAAP FINANCIAL MEASURES AND RECONCILIATIONS, CONTINUED (in millions, except share, per-share and ratio data) FOR THE NINE MONTHS ENDED QUARTERLY TRENDS SEPTEMBER 30, 3Q19 Change 2019 Change 3Q19 2Q19 1Q19 4Q18 3Q18 2Q19 3Q18 2019 2018 2018 $ % $ % $ % Noninterest income, Underlying: Noninterest income (GAAP) $493 $462 $428 $421 $416 $31 7% $77 19% $1,383 $1,175 $208 18% Less: Notable items — — — (5) — — — — — — — — — Noninterest income, Underlying (non-GAAP) $493 $462 $428 $426 $416 $31 7% $77 19% $1,383 $1,175 $208 18% Total revenue, Underlying: Total revenue (GAAP) A $1,638 $1,628 $1,588 $1,593 $1,564 $10 1% $74 5% $4,854 $4,535 $319 7% Less: Notable items — — — (5) — — — — — — — — — Total revenue, Underlying (non-GAAP) B $1,638 $1,628 $1,588 $1,598 $1,564 $10 1% $74 5% $4,854 $4,535 $319 7% Noninterest expense, Underlying: Noninterest expense (GAAP) C $973 $951 $937 $951 $910 $22 2% $63 7% $2,861 $2,668 $193 7% Less: Notable items 19 7 5 45 9 12 171 10 111 31 9 22 244 Noninterest expense, Underlying (non-GAAP) D $954 $944 $932 $906 $901 $10 1% $53 6% $2,830 $2,659 $171 6% Pre-provision profit: Total revenue (GAAP) A $1,638 $1,628 $1,588 $1,593 $1,564 $10 1% $74 5% $4,854 $4,535 $319 7% Less: Noninterest expense (GAAP) C 973 951 937 951 910 22 2 63 7 2,861 2,668 193 7 Pre-provision profit (GAAP) $665 $677 $651 $642 $654 ($12) (2%) $11 2% $1,993 $1,867 $126 7% Pre-provision profit, Underlying: Total revenue, Underlying (non-GAAP) B $1,638 $1,628 $1,588 $1,598 $1,564 $10 1% $74 5% $4,854 $4,535 $319 7% Less: Noninterest expense, Underlying (non-GAAP) D 954 944 932 906 901 10 1 53 6 2,830 2,659 171 6 Pre-provision profit, Underlying (non-GAAP) $684 $684 $656 $692 $663 $— —% $21 3% $2,024 $1,876 $148 8% Income before income tax expense, Underlying: Income before income tax expense (GAAP) E $564 $580 $566 $557 $576 ($16) (3%) ($12) (2%) $1,710 $1,626 $84 5% Less: Income (expense) before income tax expense (benefit) related to notable items (19) (7) (5) (50) (9) (12) (171) (10) (111) (31) (9) (22) (244) Income before income tax expense, Underlying (non-GAAP) F $583 $587 $571 $607 $585 ($4) (1%) ($2) —% $1,741 $1,635 $106 6% Income tax expense, Underlying: Income tax expense (benefit) (GAAP) G $115 $127 $127 $92 $133 ($12) (9%) ($18) (14%) $369 $370 ($1) —% Less: Income tax expense (benefit) related to notable items (15) (2) (1) (41) (2) (13) NM (13) NM (18) (2) (16) NM Income tax expense, Underlying (non-GAAP) H $130 $129 $128 $133 $135 $1 1% ($5) (4%) $387 $372 $15 4% Net income, Underlying: Net income (GAAP) I $449 $453 $439 $465 $443 ($4) (1%) $6 1% $1,341 $1,256 $85 7% Add: Notable items, net of income tax expense (benefit) 4 5 4 9 7 (1) (20) (3) (43) 13 7 6 86 Net income, Underlying (non-GAAP) J $453 $458 $443 $474 $450 ($5) (1%) $3 1% $1,354 $1,263 $91 7% Net income available to common stockholders, Underlying: Net income available to common stockholders (GAAP) K $432 $435 $424 $450 $436 ($3) (1%) ($4) (1%) $1,291 $1,242 $49 4% Add: Notable items, net of income tax expense (benefit) 4 5 4 9 7 (1) (20) (3) (43) 13 7 6 86 Net income available to common stockholders, Underlying (non-GAAP) L $436 $440 $428 $459 $443 ($4) (1%) ($7) (2%) $1,304 $1,249 $55 4% 23KEY PERFORMANCE METRICS, NON-GAAP FINANCIAL MEASURES AND RECONCILIATIONS, CONTINUED (in millions, except share, per-share and ratio data) FOR THE NINE MONTHS ENDED QUARTERLY TRENDS SEPTEMBER 30, 3Q19 Change 2019 Change 3Q19 2Q19 1Q19 4Q18 3Q18 2Q19 3Q18 2019 2018 2018 $ % $ % $ % Noninterest income, Underlying: Noninterest income (GAAP) $493 $462 $428 $421 $416 $31 7% $77 19% $1,383 $1,175 $208 18% Less: Notable items — — — (5) — — — — — — — — — Noninterest income, Underlying (non-GAAP) $493 $462 $428 $426 $416 $31 7% $77 19% $1,383 $1,175 $208 18% Total revenue, Underlying: Total revenue (GAAP) A $1,638 $1,628 $1,588 $1,593 $1,564 $10 1% $74 5% $4,854 $4,535 $319 7% Less: Notable items — — — (5) — — — — — — — — — Total revenue, Underlying (non-GAAP) B $1,638 $1,628 $1,588 $1,598 $1,564 $10 1% $74 5% $4,854 $4,535 $319 7% Noninterest expense, Underlying: Noninterest expense (GAAP) C $973 $951 $937 $951 $910 $22 2% $63 7% $2,861 $2,668 $193 7% Less: Notable items 19 7 5 45 9 12 171 10 111 31 9 22 244 Noninterest expense, Underlying (non-GAAP) D $954 $944 $932 $906 $901 $10 1% $53 6% $2,830 $2,659 $171 6% Pre-provision profit: Total revenue (GAAP) A $1,638 $1,628 $1,588 $1,593 $1,564 $10 1% $74 5% $4,854 $4,535 $319 7% Less: Noninterest expense (GAAP) C 973 951 937 951 910 22 2 63 7 2,861 2,668 193 7 Pre-provision profit (GAAP) $665 $677 $651 $642 $654 ($12) (2%) $11 2% $1,993 $1,867 $126 7% Pre-provision profit, Underlying: Total revenue, Underlying (non-GAAP) B $1,638 $1,628 $1,588 $1,598 $1,564 $10 1% $74 5% $4,854 $4,535 $319 7% Less: Noninterest expense, Underlying (non-GAAP) D 954 944 932 906 901 10 1 53 6 2,830 2,659 171 6 Pre-provision profit, Underlying (non-GAAP) $684 $684 $656 $692 $663 $— —% $21 3% $2,024 $1,876 $148 8% Income before income tax expense, Underlying: Income before income tax expense (GAAP) E $564 $580 $566 $557 $576 ($16) (3%) ($12) (2%) $1,710 $1,626 $84 5% Less: Income (expense) before income tax expense (benefit) related to notable items (19) (7) (5) (50) (9) (12) (171) (10) (111) (31) (9) (22) (244) Income before income tax expense, Underlying (non-GAAP) F $583 $587 $571 $607 $585 ($4) (1%) ($2) —% $1,741 $1,635 $106 6% Income tax expense, Underlying: Income tax expense (benefit) (GAAP) G $115 $127 $127 $92 $133 ($12) (9%) ($18) (14%) $369 $370 ($1) —% Less: Income tax expense (benefit) related to notable items (15) (2) (1) (41) (2) (13) NM (13) NM (18) (2) (16) NM Income tax expense, Underlying (non-GAAP) H $130 $129 $128 $133 $135 $1 1% ($5) (4%) $387 $372 $15 4% Net income, Underlying: Net income (GAAP) I $449 $453 $439 $465 $443 ($4) (1%) $6 1% $1,341 $1,256 $85 7% Add: Notable items, net of income tax expense (benefit) 4 5 4 9 7 (1) (20) (3) (43) 13 7 6 86 Net income, Underlying (non-GAAP) J $453 $458 $443 $474 $450 ($5) (1%) $3 1% $1,354 $1,263 $91 7% Net income available to common stockholders, Underlying: Net income available to common stockholders (GAAP) K $432 $435 $424 $450 $436 ($3) (1%) ($4) (1%) $1,291 $1,242 $49 4% Add: Notable items, net of income tax expense (benefit) 4 5 4 9 7 (1) (20) (3) (43) 13 7 6 86 Net income available to common stockholders, Underlying (non-GAAP) L $436 $440 $428 $459 $443 ($4) (1%) ($7) (2%) $1,304 $1,249 $55 4% 23

KEY PERFORMANCE METRICS, NON-GAAP FINANCIAL MEASURES AND RECONCILIATIONS, CONTINUED (in millions, except share, per-share and ratio data) QUARTERLY TRENDS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 3Q19 Change 2019 Change 3Q19 2Q19 1Q19 4Q18 3Q18 2Q19 3Q18 2019 2018 2018 $/bps % $/bps % $/bps % Operating leverage: Total revenue (GAAP) A $1,638 $1,628 $1,588 $1,593 $1,564 $10 0.68% $74 4.72% $4,854 $4,535 $319 7.03% Less: Noninterest expense (GAAP) C 973 951 937 951 910 22 2.39 63 6.88 2,861 2,668 193 7.21 Operating leverage (1.71%) (2.16%) (0.18%) Operating leverage, Underlying: Total revenue, Underlying (non-GAAP) B $1,638 $1,628 $1,588 $1,598 $1,564 $10 0.68% $74 4.70% $4,854 $4,535 $319 7.03% Less: Noninterest expense, Underlying (non-GAAP) D 954 944 932 906 901 10 1.03 53 5.78 2,830 2,659 171 6.41 Operating leverage, Underlying (non-GAAP) (0.35%) (1.08%) 0.62% Efficiency ratio and efficiency ratio, Underlying: Efficiency ratio C/A 59.40% 58.41% 59.00% 59.69% 58.20% 99 bps 120 bps 58.94% 58.84% 10 bps Efficiency ratio, Underlying (non-GAAP) D/B 58.22 58.02 58.67 56.70 57.62 20 bps 60 bps 58.30 58.64 (34) bps Effective income tax rate and effective income tax rate, Underlying: Effective income tax rate G/E 20.46% 21.86% 22.42% 16.45% 23.16% (140) bps (270) bps 21.58% 22.77% (119) bps Effective income tax rate, Underlying (non-GAAP) H/F 22.29 21.89 22.44 21.91 23.20 40 bps (91) bps 22.20 22.78 (58) bps Return on average common equity and return on average common equity, Underlying: Average common equity (GAAP) M $20,533 $20,420 $19,942 $19,521 $19,599 $113 1% $934 5% $20,300 $19,687 $613 3% Return on average common equity K/M 8.35% 8.54% 8.62% 9.16% 8.82% (19) bps (47) bps 8.50% 8.44% 6 bps Return on average common equity, Underlying (non-GAAP) L/M 8.45 8.63 8.71 9.33 8.96 (18) bps (51) bps 8.59 8.48 11 bps Return on average tangible common equity and return on average tangible common equity, Underlying: Average common equity (GAAP) M $20,533 $20,420 $19,942 $19,521 $19,599 $113 1% $934 5% $20,300 $19,687 $613 3% Less: Average goodwill (GAAP) 7,044 7,040 7,018 6,946 6,926 4 — 118 2 7,034 6,900 134 2 Less: Average other intangibles (GAAP) 73 80 59 32 22 (7) (9) 51 232 71 9 62 NM Add: Average deferred tax liabilities related to goodwill (GAAP) 372 370 368 364 360 2 1 12 3 371 358 13 4 Average tangible common equity N $13,788 $13,670 $13,233 $12,907 $13,011 $118 1% $777 6% $13,566 $13,136 $430 3% Return on average tangible common equity K/N 12.44% 12.75% 13.00% 13.85% 13.29% (31) bps (85) bps 12.72% 12.64% 8 bps Return on average tangible common equity, Underlying (non-GAAP) L/N 12.58 12.89 13.12 14.11 13.50 (31) bps (92) bps 12.86 12.71 15 bps Return on average total assets and return on average total assets, Underlying: Average total assets (GAAP) O $162,110 $161,489 $160,415 $157,732 $155,624 $621 —% $6,486 4% $161,344 $153,482 $7,862 5% Return on average total assets I/O 1.10% 1.13% 1.11% 1.17% 1.13% (3) bps (3) bps 1.11% 1.09% 2 bps Return on average total assets, Underlying (non-GAAP) J/O 1.11 1.14 1.12 1.19 1.15 (3) bps (4) bps 1.12 1.10 2 bps Return on average total tangible assets and return on average total tangible assets, Underlying: Average total assets (GAAP) O $162,110 $161,489 $160,415 $157,732 $155,624 $621 —% $6,486 4% $161,344 $153,482 $7,862 5% Less: Average goodwill (GAAP) 7,044 7,040 7,018 6,946 6,926 4 — 118 2 7,034 6,900 134 2 Less: Average other intangibles (GAAP) 73 80 59 32 22 (7) (9) 51 232 71 9 62 NM Add: Average deferred tax liabilities related to goodwill (GAAP) 372 370 368 364 360 2 1 12 3 371 358 13 4 Average tangible assets P $155,365 $154,739 $153,706 $151,118 $149,036 $626 —% $6,329 4% $154,610 $146,931 $7,679 5% Return on average total tangible assets I/P 1.15% 1.17% 1.16% 1.22% 1.18% (2) bps (3) bps 1.16% 1.14% 2 bps Return on average total tangible assets, Underlying (non-GAAP) J/P 1.16 1.19 1.17 1.24 1.20 (3) bps (4) bps 1.17 1.15 2 bps 24KEY PERFORMANCE METRICS, NON-GAAP FINANCIAL MEASURES AND RECONCILIATIONS, CONTINUED (in millions, except share, per-share and ratio data) QUARTERLY TRENDS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 3Q19 Change 2019 Change 3Q19 2Q19 1Q19 4Q18 3Q18 2Q19 3Q18 2019 2018 2018 $/bps % $/bps % $/bps % Operating leverage: Total revenue (GAAP) A $1,638 $1,628 $1,588 $1,593 $1,564 $10 0.68% $74 4.72% $4,854 $4,535 $319 7.03% Less: Noninterest expense (GAAP) C 973 951 937 951 910 22 2.39 63 6.88 2,861 2,668 193 7.21 Operating leverage (1.71%) (2.16%) (0.18%) Operating leverage, Underlying: Total revenue, Underlying (non-GAAP) B $1,638 $1,628 $1,588 $1,598 $1,564 $10 0.68% $74 4.70% $4,854 $4,535 $319 7.03% Less: Noninterest expense, Underlying (non-GAAP) D 954 944 932 906 901 10 1.03 53 5.78 2,830 2,659 171 6.41 Operating leverage, Underlying (non-GAAP) (0.35%) (1.08%) 0.62% Efficiency ratio and efficiency ratio, Underlying: Efficiency ratio C/A 59.40% 58.41% 59.00% 59.69% 58.20% 99 bps 120 bps 58.94% 58.84% 10 bps Efficiency ratio, Underlying (non-GAAP) D/B 58.22 58.02 58.67 56.70 57.62 20 bps 60 bps 58.30 58.64 (34) bps Effective income tax rate and effective income tax rate, Underlying: Effective income tax rate G/E 20.46% 21.86% 22.42% 16.45% 23.16% (140) bps (270) bps 21.58% 22.77% (119) bps Effective income tax rate, Underlying (non-GAAP) H/F 22.29 21.89 22.44 21.91 23.20 40 bps (91) bps 22.20 22.78 (58) bps Return on average common equity and return on average common equity, Underlying: Average common equity (GAAP) M $20,533 $20,420 $19,942 $19,521 $19,599 $113 1% $934 5% $20,300 $19,687 $613 3% Return on average common equity K/M 8.35% 8.54% 8.62% 9.16% 8.82% (19) bps (47) bps 8.50% 8.44% 6 bps Return on average common equity, Underlying (non-GAAP) L/M 8.45 8.63 8.71 9.33 8.96 (18) bps (51) bps 8.59 8.48 11 bps Return on average tangible common equity and return on average tangible common equity, Underlying: Average common equity (GAAP) M $20,533 $20,420 $19,942 $19,521 $19,599 $113 1% $934 5% $20,300 $19,687 $613 3% Less: Average goodwill (GAAP) 7,044 7,040 7,018 6,946 6,926 4 — 118 2 7,034 6,900 134 2 Less: Average other intangibles (GAAP) 73 80 59 32 22 (7) (9) 51 232 71 9 62 NM Add: Average deferred tax liabilities related to goodwill (GAAP) 372 370 368 364 360 2 1 12 3 371 358 13 4 Average tangible common equity N $13,788 $13,670 $13,233 $12,907 $13,011 $118 1% $777 6% $13,566 $13,136 $430 3% Return on average tangible common equity K/N 12.44% 12.75% 13.00% 13.85% 13.29% (31) bps (85) bps 12.72% 12.64% 8 bps Return on average tangible common equity, Underlying (non-GAAP) L/N 12.58 12.89 13.12 14.11 13.50 (31) bps (92) bps 12.86 12.71 15 bps Return on average total assets and return on average total assets, Underlying: Average total assets (GAAP) O $162,110 $161,489 $160,415 $157,732 $155,624 $621 —% $6,486 4% $161,344 $153,482 $7,862 5% Return on average total assets I/O 1.10% 1.13% 1.11% 1.17% 1.13% (3) bps (3) bps 1.11% 1.09% 2 bps Return on average total assets, Underlying (non-GAAP) J/O 1.11 1.14 1.12 1.19 1.15 (3) bps (4) bps 1.12 1.10 2 bps Return on average total tangible assets and return on average total tangible assets, Underlying: Average total assets (GAAP) O $162,110 $161,489 $160,415 $157,732 $155,624 $621 —% $6,486 4% $161,344 $153,482 $7,862 5% Less: Average goodwill (GAAP) 7,044 7,040 7,018 6,946 6,926 4 — 118 2 7,034 6,900 134 2 Less: Average other intangibles (GAAP) 73 80 59 32 22 (7) (9) 51 232 71 9 62 NM Add: Average deferred tax liabilities related to goodwill (GAAP) 372 370 368 364 360 2 1 12 3 371 358 13 4 Average tangible assets P $155,365 $154,739 $153,706 $151,118 $149,036 $626 —% $6,329 4% $154,610 $146,931 $7,679 5% Return on average total tangible assets I/P 1.15% 1.17% 1.16% 1.22% 1.18% (2) bps (3) bps 1.16% 1.14% 2 bps Return on average total tangible assets, Underlying (non-GAAP) J/P 1.16 1.19 1.17 1.24 1.20 (3) bps (4) bps 1.17 1.15 2 bps 24

KEY PERFORMANCE METRICS, NON-GAAP FINANCIAL MEASURES AND RECONCILIATIONS, CONTINUED (in millions, except share, per-share and ratio data) QUARTERLY TRENDS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 3Q19 Change 2019 Change 3Q19 2Q19 1Q19 4Q18 3Q18 2Q19 3Q18 2019 2018 2018 $/bps % $/bps % $/bps % Tangible book value per common share: Common shares - at period-end (GAAP) Q 443,913,525 457,903,826 461,116,723 466,007,984 474,120,616 (13,990,301) (3%) (30,207,091) (6%) 443,913,525 474,120,616 (30,207,091) (6%) Common stockholders' equity (GAAP) $20,718 $20,884 $20,399 $19,977 $19,733 ($166) (1) $985 5 $20,718 $19,733 $985 5 Less: Goodwill (GAAP) 7,044 7,040 7,040 6,923 6,946 4 — 98 1 7,044 6,946 98 1 Less: Other intangible assets (GAAP) 71 74 80 31 33 (3) (4) 38 115 71 33 38 115 Add: Deferred tax liabilities related to goodwill (GAAP) 373 371 370 366 363 2 1 10 3 373 363 10 3 Tangible common equity R $13,976 $14,141 $13,649 $13,389 $13,117 ($165) (1%) $859 7% $13,976 $13,117 $859 7% Tangible book value per common share R/Q $31.48 $30.88 $29.60 $28.73 $27.66 $0.60 2% $3.82 14% $31.48 $27.66 $3.82 14% Net income per average common share - basic and diluted and net income per average common share - basic and diluted, Underlying: Average common shares outstanding - basic (GAAP) S 445,703,987 458,154,335 460,713,172 467,338,825 475,957,526 (12,450,348) (3%) (30,253,539) (6%) 454,802,186 482,691,884 (27,889,698) (6%) Average common shares outstanding - diluted (GAAP) T 447,134,595 459,304,224 462,520,680 469,103,134 477,599,917 (12,169,629) (3) (30,465,322) (6) 456,218,755 484,250,843 (28,032,088) (6) Net income per average common share - basic (GAAP) K/S $0.97 $0.95 $0.92 $0.96 $0.92 $0.02 2 $0.05 5 $2.84 $2.57 $0.27 11 Net income per average common share - diluted (GAAP) K/T 0.97 0.95 0.92 0.96 0.91 0.02 2 0.06 7 2.83 2.57 0.26 10 Net income per average common share - basic, Underlying (non-GAAP) L/S 0.98 0.96 0.93 0.98 0.93 0.02 2 0.05 5 2.87 2.59 0.28 11 Net income per average common share - diluted, Underlying (non- GAAP) L/T 0.98 0.96 0.93 0.98 0.93 0.02 2 0.05 5 2.86 2.58 0.28 11 Dividend payout ratio and dividend payout ratio, Underlying: Cash dividends declared and paid per common share U $0.36 $0.32 $0.32 $0.27 $0.27 $0.04 13% $0.09 33% $1.00 $0.71 $0.29 41% Dividend payout ratio U/(K/S) 37% 34% 35% 28% 29% 300 bps 800 bps 35% 28% 700 bps Dividend payout ratio, Underlying (non-GAAP) U/(L/S) 37 33 34 27 29 400 bps 800 bps 35 27 800 bps 25KEY PERFORMANCE METRICS, NON-GAAP FINANCIAL MEASURES AND RECONCILIATIONS, CONTINUED (in millions, except share, per-share and ratio data) QUARTERLY TRENDS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 3Q19 Change 2019 Change 3Q19 2Q19 1Q19 4Q18 3Q18 2Q19 3Q18 2019 2018 2018 $/bps % $/bps % $/bps % Tangible book value per common share: Common shares - at period-end (GAAP) Q 443,913,525 457,903,826 461,116,723 466,007,984 474,120,616 (13,990,301) (3%) (30,207,091) (6%) 443,913,525 474,120,616 (30,207,091) (6%) Common stockholders' equity (GAAP) $20,718 $20,884 $20,399 $19,977 $19,733 ($166) (1) $985 5 $20,718 $19,733 $985 5 Less: Goodwill (GAAP) 7,044 7,040 7,040 6,923 6,946 4 — 98 1 7,044 6,946 98 1 Less: Other intangible assets (GAAP) 71 74 80 31 33 (3) (4) 38 115 71 33 38 115 Add: Deferred tax liabilities related to goodwill (GAAP) 373 371 370 366 363 2 1 10 3 373 363 10 3 Tangible common equity R $13,976 $14,141 $13,649 $13,389 $13,117 ($165) (1%) $859 7% $13,976 $13,117 $859 7% Tangible book value per common share R/Q $31.48 $30.88 $29.60 $28.73 $27.66 $0.60 2% $3.82 14% $31.48 $27.66 $3.82 14% Net income per average common share - basic and diluted and net income per average common share - basic and diluted, Underlying: Average common shares outstanding - basic (GAAP) S 445,703,987 458,154,335 460,713,172 467,338,825 475,957,526 (12,450,348) (3%) (30,253,539) (6%) 454,802,186 482,691,884 (27,889,698) (6%) Average common shares outstanding - diluted (GAAP) T 447,134,595 459,304,224 462,520,680 469,103,134 477,599,917 (12,169,629) (3) (30,465,322) (6) 456,218,755 484,250,843 (28,032,088) (6) Net income per average common share - basic (GAAP) K/S $0.97 $0.95 $0.92 $0.96 $0.92 $0.02 2 $0.05 5 $2.84 $2.57 $0.27 11 Net income per average common share - diluted (GAAP) K/T 0.97 0.95 0.92 0.96 0.91 0.02 2 0.06 7 2.83 2.57 0.26 10 Net income per average common share - basic, Underlying (non-GAAP) L/S 0.98 0.96 0.93 0.98 0.93 0.02 2 0.05 5 2.87 2.59 0.28 11 Net income per average common share - diluted, Underlying (non- GAAP) L/T 0.98 0.96 0.93 0.98 0.93 0.02 2 0.05 5 2.86 2.58 0.28 11 Dividend payout ratio and dividend payout ratio, Underlying: Cash dividends declared and paid per common share U $0.36 $0.32 $0.32 $0.27 $0.27 $0.04 13% $0.09 33% $1.00 $0.71 $0.29 41% Dividend payout ratio U/(K/S) 37% 34% 35% 28% 29% 300 bps 800 bps 35% 28% 700 bps Dividend payout ratio, Underlying (non-GAAP) U/(L/S) 37 33 34 27 29 400 bps 800 bps 35 27 800 bps 25

KEY PERFORMANCE METRICS, NON-GAAP FINANCIAL MEASURES AND RECONCILIATIONS, CONTINUED (in millions, except share, per-share and ratio data) QUARTERLY TRENDS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 3Q19 Change 2019 Change 3Q19 2Q19 1Q19 4Q18 3Q18 2Q19 3Q18 2019 2018 2018 $ % $ % $/bps % Mortgage banking fees, Underlying: Mortgage banking fees (GAAP) $117 $62 $43 $51 $49 $55 89% $68 139% $222 $101 $121 120% Less: Notable items — — — (4) — — — — — — — — — Mortgage banking fees, Underlying (non-GAAP) $117 $62 $43 $55 $49 $55 89% $68 139% $222 $101 $121 120% Other income, Underlying: Other income (GAAP) $20 $28 $25 $15 $17 ($8) (29%) $3 18% $73 $49 $24 49% Less: Notable items — — — (1) — — — — — — — — — Other income, Underlying (non-GAAP) $20 $28 $25 $16 $17 ($8) (29%) $3 18% $73 $49 $24 49% Salaries and employee benefits, Underlying: Salaries and employee benefits (GAAP) $508 $507 $509 $483 $474 $1 —% $34 7% $1,524 $1,397 $127 9% Less: Notable items 5 2 1 6 5 3 150 — — 8 5 3 60 Salaries and employee benefits, Underlying (non-GAAP) $503 $505 $508 $477 $469 ($2) —% $34 7% $1,516 $1,392 $124 9% 1 Equipment and software expense, Underlying : 1 Equipment and software expense (GAAP) $130 $126 $125 $124 $117 $4 3% $13 11% $381 $340 $41 12% Less: Notable items — — — 3 — — — — — — — — — 1 Equipment and software expense, Underlying (non-GAAP) $130 $126 $125 $121 $117 $4 3% $13 11% $381 $340 $41 12% Outside services, Underlying: Outside services (GAAP) $128 $118 $110 $135 $107 $10 8% $21 20% $356 $312 $44 14% Less: Notable items 14 5 4 19 1 9 180 13 NM 23 1 22 NM Outside services, Underlying (non-GAAP) $114 $113 $106 $116 $106 $1 1% $8 8% $333 $311 $22 7% Occupancy, Underlying: Occupancy (GAAP) $80 $82 $83 $92 $81 ($2) (2%) ($1) (1%) $245 $241 $4 2% Less: Notable items — — — 16 — — — — — — — — — Occupancy, Underlying (non-GAAP) $80 $82 $83 $76 $81 ($2) (2%) ($1) (1%) $245 $241 $4 2% Other operating expense, Underlying: Other operating expense (GAAP) $127 $118 $110 $117 $131 $9 8% ($4) (3%) $355 $378 ($23) (6%) Less: Notable items — — — 1 3 — — (3) (100) — 3 (3) (100) Other operating expense, Underlying (non-GAAP) $127 $118 $110 $116 $128 $9 8% ($1) (1%) $355 $375 ($20) (5%) 1 Beginning in the first quarter of 2019, we combined our presentation of equipment expense and amortization of software into equipment and software expense. Prior periods have been adjusted to conform with the current period presentation. 26KEY PERFORMANCE METRICS, NON-GAAP FINANCIAL MEASURES AND RECONCILIATIONS, CONTINUED (in millions, except share, per-share and ratio data) QUARTERLY TRENDS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 3Q19 Change 2019 Change 3Q19 2Q19 1Q19 4Q18 3Q18 2Q19 3Q18 2019 2018 2018 $ % $ % $/bps % Mortgage banking fees, Underlying: Mortgage banking fees (GAAP) $117 $62 $43 $51 $49 $55 89% $68 139% $222 $101 $121 120% Less: Notable items — — — (4) — — — — — — — — — Mortgage banking fees, Underlying (non-GAAP) $117 $62 $43 $55 $49 $55 89% $68 139% $222 $101 $121 120% Other income, Underlying: Other income (GAAP) $20 $28 $25 $15 $17 ($8) (29%) $3 18% $73 $49 $24 49% Less: Notable items — — — (1) — — — — — — — — — Other income, Underlying (non-GAAP) $20 $28 $25 $16 $17 ($8) (29%) $3 18% $73 $49 $24 49% Salaries and employee benefits, Underlying: Salaries and employee benefits (GAAP) $508 $507 $509 $483 $474 $1 —% $34 7% $1,524 $1,397 $127 9% Less: Notable items 5 2 1 6 5 3 150 — — 8 5 3 60 Salaries and employee benefits, Underlying (non-GAAP) $503 $505 $508 $477 $469 ($2) —% $34 7% $1,516 $1,392 $124 9% 1 Equipment and software expense, Underlying : 1 Equipment and software expense (GAAP) $130 $126 $125 $124 $117 $4 3% $13 11% $381 $340 $41 12% Less: Notable items — — — 3 — — — — — — — — — 1 Equipment and software expense, Underlying (non-GAAP) $130 $126 $125 $121 $117 $4 3% $13 11% $381 $340 $41 12% Outside services, Underlying: Outside services (GAAP) $128 $118 $110 $135 $107 $10 8% $21 20% $356 $312 $44 14% Less: Notable items 14 5 4 19 1 9 180 13 NM 23 1 22 NM Outside services, Underlying (non-GAAP) $114 $113 $106 $116 $106 $1 1% $8 8% $333 $311 $22 7% Occupancy, Underlying: Occupancy (GAAP) $80 $82 $83 $92 $81 ($2) (2%) ($1) (1%) $245 $241 $4 2% Less: Notable items — — — 16 — — — — — — — — — Occupancy, Underlying (non-GAAP) $80 $82 $83 $76 $81 ($2) (2%) ($1) (1%) $245 $241 $4 2% Other operating expense, Underlying: Other operating expense (GAAP) $127 $118 $110 $117 $131 $9 8% ($4) (3%) $355 $378 ($23) (6%) Less: Notable items — — — 1 3 — — (3) (100) — 3 (3) (100) Other operating expense, Underlying (non-GAAP) $127 $118 $110 $116 $128 $9 8% ($1) (1%) $355 $375 ($20) (5%) 1 Beginning in the first quarter of 2019, we combined our presentation of equipment expense and amortization of software into equipment and software expense. Prior periods have been adjusted to conform with the current period presentation. 26

KEY PERFORMANCE METRICS, NON-GAAP FINANCIAL MEASURES AND RECONCILIATIONS - SEGMENTS (in millions, except ratio data) THIRD QUARTER 2019 SECOND QUARTER 2019 FIRST QUARTER 2019 Consumer Commercial Consumer Commercial Consumer Commercial Banking Banking Other Consolidated Banking Banking Other Consolidated Banking Banking Other Consolidated Net income (loss) available to common stockholders: Net income A $251 $196 $2 $449 $213 $216 $24 $453 $202 $227 $10 $439 Less: Preferred stock dividends — — 17 17 — — 18 18 — — 15 15 Net income (loss) available to common B $251 $196 ($15) $432 $213 $216 $6 $435 $202 $227 ($5) $424 stockholders Return on average total tangible assets: Average total assets (GAAP) $66,365 $55,614 $40,131 $162,110 $65,485 $56,135 $39,869 $161,489 $65,007 $55,630 $39,778 $160,415 Less: Average goodwill (GAAP) 122 46 6,876 7,044 119 45 6,876 7,040 119 23 6,876 7,018 Average other intangibles (GAAP) 66 7 — 73 73 7 — 80 55 4 — 59 Add: Average deferred tax liabilities 1 1 370 372 — — 370 370 — — 368 368 related to goodwill (GAAP) Average tangible assets C $66,178 $55,562 $33,625 $155,365 $65,293 $56,083 $33,363 $154,739 $64,833 $55,603 $33,270 $153,706 Return on average total tangible assets A/C 1.50% 1.40% NM 1.15% 1.31% 1.54% NM 1.17% 1.26% 1.66% NM 1.16% Efficiency ratio: Noninterest expense (GAAP) D $718 $213 $42 $973 $715 $217 $19 $951 $700 $209 $28 $937 Net interest income (GAAP) 799 360 (14) 1,145 799 371 (4) 1,166 788 372 — 1,160 Noninterest income (GAAP) 336 133 24 493 277 149 36 462 247 150 31 428 Total revenue (GAAP) E $1,135 $493 $10 $1,638 $1,076 $520 $32 $1,628 $1,035 $522 $31 $1,588 Efficiency ratio D/E 63.28% 43.35% NM 59.40% 66.43% 41.58% NM 58.41% 67.62% 40.11% NM 59.00% FOURTH QUARTER 2018 THIRD QUARTER 2018 Consumer Commercial Consumer Commercial Banking Banking Other Consolidated Banking Banking Other Consolidated Net income (loss) available to common stockholders: Net income A $193 $241 $31 $465 $207 $234 $2 $443 Less: Preferred stock dividends — — 15 15 — — 7 7 Net income (loss) available to common B $193 $241 $16 $450 $207 $234 ($5) $436 stockholders Return on average total tangible assets: Average total assets (GAAP) $64,187 $53,970 $39,575 $157,732 $62,974 $52,871 $39,779 $155,624 Less: Average goodwill (GAAP) 59 11 6,876 6,946 39 11 6,876 6,926 Average other intangibles (GAAP) 30 2 — 32 20 2 — 22 Add: Average deferred tax liabilities — — 364 364 — — 360 360 related to goodwill (GAAP) Average tangible assets C $64,098 $53,957 $33,063 $151,118 $62,915 $52,858 $33,263 $149,036 Return on average total tangible assets A/C 1.19% 1.78% NM 1.22% 1.31% 1.75% NM 1.18% Efficiency ratio: Noninterest expense (GAAP) D $723 $203 $25 $951 $686 $202 $22 $910 Net interest income (GAAP) 796 384 (8) 1,172 776 380 (8) 1,148 Noninterest income (GAAP) 265 140 16 421 258 140 18 416 Total revenue (GAAP) E $1,061 $524 $8 $1,593 $1,034 $520 $10 $1,564 Efficiency ratio D/E 68.22% 38.73% NM 59.69% 66.29% 38.83% NM 58.20% 27KEY PERFORMANCE METRICS, NON-GAAP FINANCIAL MEASURES AND RECONCILIATIONS - SEGMENTS (in millions, except ratio data) THIRD QUARTER 2019 SECOND QUARTER 2019 FIRST QUARTER 2019 Consumer Commercial Consumer Commercial Consumer Commercial Banking Banking Other Consolidated Banking Banking Other Consolidated Banking Banking Other Consolidated Net income (loss) available to common stockholders: Net income A $251 $196 $2 $449 $213 $216 $24 $453 $202 $227 $10 $439 Less: Preferred stock dividends — — 17 17 — — 18 18 — — 15 15 Net income (loss) available to common B $251 $196 ($15) $432 $213 $216 $6 $435 $202 $227 ($5) $424 stockholders Return on average total tangible assets: Average total assets (GAAP) $66,365 $55,614 $40,131 $162,110 $65,485 $56,135 $39,869 $161,489 $65,007 $55,630 $39,778 $160,415 Less: Average goodwill (GAAP) 122 46 6,876 7,044 119 45 6,876 7,040 119 23 6,876 7,018 Average other intangibles (GAAP) 66 7 — 73 73 7 — 80 55 4 — 59 Add: Average deferred tax liabilities 1 1 370 372 — — 370 370 — — 368 368 related to goodwill (GAAP) Average tangible assets C $66,178 $55,562 $33,625 $155,365 $65,293 $56,083 $33,363 $154,739 $64,833 $55,603 $33,270 $153,706 Return on average total tangible assets A/C 1.50% 1.40% NM 1.15% 1.31% 1.54% NM 1.17% 1.26% 1.66% NM 1.16% Efficiency ratio: Noninterest expense (GAAP) D $718 $213 $42 $973 $715 $217 $19 $951 $700 $209 $28 $937 Net interest income (GAAP) 799 360 (14) 1,145 799 371 (4) 1,166 788 372 — 1,160 Noninterest income (GAAP) 336 133 24 493 277 149 36 462 247 150 31 428 Total revenue (GAAP) E $1,135 $493 $10 $1,638 $1,076 $520 $32 $1,628 $1,035 $522 $31 $1,588 Efficiency ratio D/E 63.28% 43.35% NM 59.40% 66.43% 41.58% NM 58.41% 67.62% 40.11% NM 59.00% FOURTH QUARTER 2018 THIRD QUARTER 2018 Consumer Commercial Consumer Commercial Banking Banking Other Consolidated Banking Banking Other Consolidated Net income (loss) available to common stockholders: Net income A $193 $241 $31 $465 $207 $234 $2 $443 Less: Preferred stock dividends — — 15 15 — — 7 7 Net income (loss) available to common B $193 $241 $16 $450 $207 $234 ($5) $436 stockholders Return on average total tangible assets: Average total assets (GAAP) $64,187 $53,970 $39,575 $157,732 $62,974 $52,871 $39,779 $155,624 Less: Average goodwill (GAAP) 59 11 6,876 6,946 39 11 6,876 6,926 Average other intangibles (GAAP) 30 2 — 32 20 2 — 22 Add: Average deferred tax liabilities — — 364 364 — — 360 360 related to goodwill (GAAP) Average tangible assets C $64,098 $53,957 $33,063 $151,118 $62,915 $52,858 $33,263 $149,036 Return on average total tangible assets A/C 1.19% 1.78% NM 1.22% 1.31% 1.75% NM 1.18% Efficiency ratio: Noninterest expense (GAAP) D $723 $203 $25 $951 $686 $202 $22 $910 Net interest income (GAAP) 796 384 (8) 1,172 776 380 (8) 1,148 Noninterest income (GAAP) 265 140 16 421 258 140 18 416 Total revenue (GAAP) E $1,061 $524 $8 $1,593 $1,034 $520 $10 $1,564 Efficiency ratio D/E 68.22% 38.73% NM 59.69% 66.29% 38.83% NM 58.20% 27

KEY PERFORMANCE METRICS, NON-GAAP FINANCIAL MEASURES AND RECONCILIATIONS - SEGMENTS (CONTINUED) (in millions, except ratio data) FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2019 2018 Consumer Commercial Consumer Commercial Banking Banking Other Consolidated Banking Banking Other Consolidated Net income (loss) available to common stockholders: Net income (loss) A $666 $639 $36 $1,341 $574 $686 ($4) $1,256 Less: Preferred stock dividends — — 50 50 — — 14 14 Net income (loss) available to common stockholders B $666 $639 ($14) $1,291 $574 $686 ($18) $1,242 Return on average total tangible assets: Average total assets (GAAP) $65,624 $55,793 $39,927 $161,344 $61,857 $51,820 $39,805 $153,482 Less: Average goodwill (GAAP) 120 38 6,876 7,034 13 11 6,876 6,900 Average other intangibles (GAAP) 65 6 — 71 7 2 — 9 Add: Average deferred tax liabilities related to goodwill (GAAP) 1 — 370 371 — — 358 358 Average tangible assets C $65,440 $55,749 $33,421 $154,610 $61,837 $51,807 $33,287 $146,931 Return on average total tangible assets A/C 1.36% 1.53% NM 1.16% 1.24% 1.77% NM 1.14% Efficiency ratio: Noninterest expense (GAAP) D $2,133 $639 $89 $2,861 $2,000 $610 $58 $2,668 Net interest income (GAAP) 2,386 1,103 (18) 3,471 2,268 1,113 (21) 3,360 Noninterest income (GAAP) 860 432 91 1,383 708 405 62 1,175 Total revenue (GAAP) E $3,246 $1,535 $73 $4,854 $2,976 $1,518 $41 $4,535 Efficiency ratio D/E 65.71% 41.65% NM 58.94% 67.20% 40.16% NM 58.84% 28KEY PERFORMANCE METRICS, NON-GAAP FINANCIAL MEASURES AND RECONCILIATIONS - SEGMENTS (CONTINUED) (in millions, except ratio data) FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2019 2018 Consumer Commercial Consumer Commercial Banking Banking Other Consolidated Banking Banking Other Consolidated Net income (loss) available to common stockholders: Net income (loss) A $666 $639 $36 $1,341 $574 $686 ($4) $1,256 Less: Preferred stock dividends — — 50 50 — — 14 14 Net income (loss) available to common stockholders B $666 $639 ($14) $1,291 $574 $686 ($18) $1,242 Return on average total tangible assets: Average total assets (GAAP) $65,624 $55,793 $39,927 $161,344 $61,857 $51,820 $39,805 $153,482 Less: Average goodwill (GAAP) 120 38 6,876 7,034 13 11 6,876 6,900 Average other intangibles (GAAP) 65 6 — 71 7 2 — 9 Add: Average deferred tax liabilities related to goodwill (GAAP) 1 — 370 371 — — 358 358 Average tangible assets C $65,440 $55,749 $33,421 $154,610 $61,837 $51,807 $33,287 $146,931 Return on average total tangible assets A/C 1.36% 1.53% NM 1.16% 1.24% 1.77% NM 1.14% Efficiency ratio: Noninterest expense (GAAP) D $2,133 $639 $89 $2,861 $2,000 $610 $58 $2,668 Net interest income (GAAP) 2,386 1,103 (18) 3,471 2,268 1,113 (21) 3,360 Noninterest income (GAAP) 860 432 91 1,383 708 405 62 1,175 Total revenue (GAAP) E $3,246 $1,535 $73 $4,854 $2,976 $1,518 $41 $4,535 Efficiency ratio D/E 65.71% 41.65% NM 58.94% 67.20% 40.16% NM 58.84% 28

XML

Document and Entity Information	Oct. 18, 2019
Document And Entity Information [Line Items]
Entity Registrant Name	CITIZENS FINANCIAL GROUP INC/RI
Amendment Flag	false
Entity Central Index Key	0000759944
Document Type	8-K
Document Period End Date	Oct. 18, 2019
Entity Incorporation State Country Code	DE
Entity File Number	001-36636
Entity Tax Identification Number	05-0412693
Entity Address, Address Line One	One Citizens Plaza
Entity Address, City or Town	Providence
Entity Address, State or Province	RI
Entity Address, Postal Zip Code	02903
City Area Code	(401)
Local Phone Number	456-7000
Written Communications	false
Soliciting Material	false
Pre Commencement Tender Offer	false
Pre Commencement Issuer Tender Offer	false
Entity Emerging Growth Company	false
Common Stock [Member]
Document And Entity Information [Line Items]
Security 12b Title	Common stock, $0.01 par value per share
Trading Symbol	CFG
Security Exchange Name	NYSE
Series D Preferred Stock [Member]
Document And Entity Information [Line Items]
Security 12b Title	Depositary Shares, each representing a 1/40th interest in a share of 6.350% Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series D
Trading Symbol	CFG PrD
Security Exchange Name	NYSE