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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported): April 19, 2024
53_Logo_horizontal_FullColor.jpg
Fifth Third Bancorp
(Exact name of registrant as specified in its charter)
Ohio 001-33653 31-0854434
(State or other jurisdiction
of incorporation)		 (Commission
File Number)		 (IRS Employer
Identification No.)
Fifth Third Center
38 Fountain Square Plaza,Cincinnati,Ohio45263
(Address of Principal Executive Offices)(Zip Code)
(800) 972-3030
(Registrant's telephone number, including area code)

Not Applicable
(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below)

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

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

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

    ☐    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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, Without Par Value FITB The NASDAQ Stock Market LLC
Depositary Shares Representing a 1/1000th Ownership Interest in a Share of 6.625% Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series I FITBI The NASDAQ Stock Market LLC
Depositary Shares Representing a 1/40th Ownership Interest in a Share of 6.00% Non-Cumulative Perpetual Class B Preferred Stock, Series A FITBP The NASDAQ Stock Market LLC
Depositary Shares Representing a 1/1000th Ownership Interest in a Share of 4.95% Non-Cumulative Perpetual Preferred Stock, Series K FITBO The NASDAQ Stock Market LLC

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

Emerging growth company    ☐            

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


Item 2.02    Results of Operations and Financial Condition.

On April 19, 2024, Fifth Third Bancorp issued a press release announcing its earnings release for the first quarter of 2024. A copy of this press release is attached as Exhibit 99.1. This information is furnished under both Item 2.02 Results of Operations and Financial Condition and Item 7.01 Regulation FD Disclosure.

The information in this Item 2.02 of Form 8-K and Exhibits attached hereto shall not be deemed filed for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall they be deemed incorporated by reference in any filing under the Securities Exchange Act of 1934 or the Securities Act of 1933, except as shall be expressly set forth by specific reference.

Item 7.01    Regulation FD Disclosure.

On April 19, 2024, Fifth Third Bancorp issued a press release announcing its earnings release for the first quarter of 2024. A copy of this press release is attached as Exhibit 99.1. This information is furnished under both Item 2.02 Results of Operations and Financial Condition and Item 7.01 Regulation FD Disclosure.

For the benefit of its investors, Fifth Third Bancorp is also furnishing a presentation regarding its earnings conference call. A copy of this item is attached as Exhibit 99.2.

The information in this Item 7.01 of Form 8-K and Exhibits attached hereto shall not be deemed filed for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall they be deemed incorporated by reference in any filing under the Securities Exchange Act of 1934 or the Securities Act of 1933, except as shall be expressly set forth by specific reference.

Item 9.01    Financial Statements and Exhibits

Exhibit 99.1 – Press release dated April 19, 2024

Exhibit 99.2 – First Quarter 2024 Earnings Presentation

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.
 FIFTH THIRD BANCORP
 (Registrant)
   
Date: April 19, 2024
 /s/ Bryan D. Preston
   
 Bryan D. Preston
 Executive Vice President and
Chief Financial Officer


 Document

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Fifth Third Bancorp Reports First Quarter 2024 Diluted Earnings Per Share of $0.70
Grew deposits year-over-year and further strengthened liquidity and capital positions
Reported results included a negative $0.06 impact from certain items on page 2
Key Financial DataKey Highlights
$ in millions for all balance sheet and income statement items
1Q24
4Q23
1Q23
         Stability:
•Average deposits increased 5% compared to 1Q23
•Net charge-offs, NPAs, and delinquencies remain below historical levels; zero CRE net charge-offs during the quarter
•Loan-to-core deposit ratio of 71%
•CET1 capital increased 15 bps sequentially to 10.44% reflecting consistent and strong earnings power
    Profitability:
•Strong fee performance driven by 10% growth in wealth and asset management revenue and 11% in treasury management fees compared to 1Q23
•Interest-bearing deposit costs stabilized; increased only 1 bp compared to 4Q23
•Disciplined expense management; expenses increased 1%; adjusted expenses(a) decreased 1% compared to 1Q23
    Growth:
•Generated consumer household growth of 3% compared to 1Q23
•Fifth Third Wealth Advisors surpassed $1 billion in assets under management

Income Statement Data
Net income available to common shareholders$480$492$535
Net interest income (U.S. GAAP)1,3841,4161,517
Net interest income (FTE)(a)
1,3901,4231,522
Noninterest income710744696
Noninterest expense1,3421,4551,331
Per Share Data
Earnings per share, basic$0.70$0.72$0.78
Earnings per share, diluted0.700.720.78
Book value per share24.7225.0423.87
Tangible book value per share(a)
17.3517.6416.41
Balance Sheet & Credit Quality
Average portfolio loans and leases$117,334$118,858$122,812
Average deposits168,122169,447160,645
Accumulated other comprehensive loss(4,888)(4,487)(4,245)
Net charge-off ratio(b)
0.38%0.32%0.26%
Nonperforming asset ratio(c)
0.640.590.51
Financial Ratios
Return on average assets0.98%0.98%1.10%
Return on average common equity11.612.913.7
Return on average tangible common equity(a)
17.019.820.5
CET1 capital(d)(e)
10.4410.299.28
Net interest margin(a)
2.862.853.29
Efficiency(a)
63.967.260.0
Other than the Quarterly Financial Review tables beginning on page 14, commentary is on a fully taxable-equivalent (FTE) basis unless otherwise noted. Consistent with SEC guidance in Regulation S-K that contemplates the calculation of tax-exempt income on a taxable-equivalent basis, net interest income, net interest margin, net interest rate spread, total revenue and the efficiency ratio are provided on an FTE basis.
From Tim Spence, Fifth Third Chairman, CEO and President:
Fifth Third’s financial results once again reflected balance sheet strength, well-managed deposit costs, disciplined credit risk management, and diversified revenue streams. Expenses remain well-controlled and were down slightly year-over-year when excluding certain items.

Our balance sheet positioning and deposit performance provide flexibility in managing through a range of uncertain economic and regulatory environments. Our credit metrics remain below historical levels, with net charge-offs for the quarter in line with our expectations.

We continue to prudently invest in our strategic priorities as highlighted by strong growth in our treasury management fees and wealth and asset management revenue. We also extended our track record of strong organic growth, adding net new households in consumer and new quality relationships in commercial.

While the economic and regulatory environments remain uncertain, we remain well positioned to respond to a range of potential outcomes. We will continue to follow our guiding principles of stability, profitability, and growth – in that order.                                 
        
Investor contact: Matt Curoe (513) 534-2345 | Media contact: Jennifer Hendricks Sullivan (614) 744-7693 April 19, 2024

Income Statement Highlights
($ in millions, except per share data)For the Three Months Ended% Change
MarchDecemberMarch
202420232023SeqYr/Yr
Condensed Statements of Income
Net interest income (NII)(a)
$1,390$1,423$1,522(2)%(9)%
Provision for credit losses945516471%(43)%
Noninterest income710744696(5)%2%
Noninterest expense1,3421,4551,331(8)%1%
Income before income taxes(a)
$664$657$7231%(8)%
Taxable equivalent adjustment$6$7$5(14)%20%
Applicable income tax expense13812016015%(14)%
Net income$520$530$558(2)%(7)%
Dividends on preferred stock4038235%74%
Net income available to common shareholders$480$492$535(2)%(10)%
Earnings per share, diluted$0.70$0.72$0.78(3)%(10)%
Fifth Third Bancorp (NASDAQ®: FITB) today reported first quarter 2024 net income of $520 million compared to net income of $530 million in the prior quarter and $558 million in the year-ago quarter. Net income available to common shareholders in the current quarter was $480 million, or $0.70 per diluted share, compared to $492 million, or $0.72 per diluted share, in the prior quarter and $535 million, or $0.78 per diluted share, in the year-ago quarter.

Diluted earnings per share impact of certain item(s) - 1Q24
(after-tax impact(f); $ in millions, except per share data)
Update to the FDIC special assessment (noninterest expense)$(25)
Interchange litigation matters
     Valuation of Visa total return swap (noninterest income)(13)
     Mastercard litigation (noninterest expense)(4)
subtotal(17)
After-tax impact(f) of certain items
$(42)
Diluted earnings per share impact of certain item(s)1
$(0.06)
Totals may not foot due to rounding; 1Diluted earnings per share impact reflects 690.634 million average diluted shares outstanding


2

Net Interest Income
(FTE; $ in millions)(a)
For the Three Months Ended% Change
MarchDecemberMarch
202420232023SeqYr/Yr
Interest Income
Interest income$2,614 $2,655 $2,218 (2)%18%
Interest expense1,2241,232696(1)%76%
Net interest income (NII)$1,390 $1,423 $1,522 (2)%(9)%
Average Yield/Rate Analysisbps Change
Yield on interest-earning assets5.38 %5.31 %4.80 %758
Rate paid on interest-bearing liabilities3.36 %3.34 %2.18 %2118
Ratios
Net interest rate spread2.02 %1.97 %2.62 %5(60)
Net interest margin (NIM)2.86 %2.85 %3.29 %1(43)
Compared to the prior quarter, NII decreased $33 million, or 2%, primarily reflecting lower average commercial loans, the continued impact of the deposit mix shift from demand to interest-bearing accounts, and the impact of lower day count, partially offset by the increased yields on new production of fixed rate consumer loans. Compared to the prior quarter, NIM increased 1 bp, primarily reflecting higher loan yields and the impact of day count, partially offset by the deposit mix shift. NIM results continue to be impacted by the decision to carry elevated liquidity given the environment, with the combination of cash and other short term investments exceeding $25 billion at quarter-end.
Compared to the year-ago quarter, NII decreased $132 million, or 9%, reflecting the impact of higher funding costs and deposit mix shift from demand to interest-bearing accounts, partially offset by higher loan yields. Compared to the year-ago quarter, NIM decreased 43 bps, reflecting the impact of higher market rates and their effects on deposit pricing and the decision to carry additional cash, partially offset by higher loan yields.

3

Noninterest Income
($ in millions)For the Three Months Ended% Change
MarchDecemberMarch
202420232023SeqYr/Yr
Noninterest Income
Service charges on deposits$151$146$1373%10%
Commercial banking revenue143163161(12)%(11)%
Mortgage banking net revenue546669(18)%(22)%
Wealth and asset management revenue16114714610%10%
Card and processing revenue102106100(4)%2%
Leasing business revenue394657(15)%(32)%
Other noninterest income505422(7)%127%
Securities gains, net10154(33)%150%
Securities gains, net - non-qualifying hedges
   on mortgage servicing rights—1—(100)%NM
Total noninterest income$710$744$696(5)%2%
Reported noninterest income decreased $34 million, or 5%, from the prior quarter, and increased $14 million, or 2%, from the year-ago quarter. The reported results reflect the impact of certain items in the table below, including securities gains/losses which incorporate mark-to-market impacts from securities associated with non-qualified deferred compensation plans.

Noninterest Income excluding certain items
($ in millions)For the Three Months Ended
MarchDecemberMarch% Change
202420232023SeqYr/Yr
Noninterest Income excluding certain items
Noninterest income (U.S. GAAP)$710 $744 $696 
Valuation of Visa total return swap172231
Securities (gains) losses, net(10)(15)(4)
Noninterest income excluding certain items(a)
$717 $751 $723(5)%(1)% 
Noninterest income excluding certain items decreased $34 million, or 5%, from the prior quarter, and decreased $6 million, or 1%, from the year-ago quarter.
Compared to the prior quarter, service charges on deposits increased $5 million, or 3%, primarily reflecting an increase in commercial treasury management fees as well as consumer deposit fees. Commercial banking revenue decreased $20 million, or 12%, primarily reflecting decreases in institutional brokerage revenue and client financial risk management revenue, partially offset by an increase in loan syndication revenue and corporate bond fees. Mortgage banking net revenue decreased $12 million, or 18%, primarily reflecting decreases in MSR net valuation adjustments and origination fees and gains on loan sales, partially offset by a decrease in MSR asset decay. Wealth and asset management revenue increased $14 million, or 10%, primarily driven by seasonally strong tax-related private client service revenue and an increase in personal asset management revenue. Card and processing revenue decreased $4 million, or 4%, driven by a decrease in interchange revenue. Leasing business revenue decreased $7 million, or 15%, primarily reflecting lower lease remarketing revenue.
Compared to the year-ago quarter, service charges on deposits increased $14 million, or 10%, primarily reflecting an increase in commercial treasury management fees. Commercial banking revenue decreased $18 million, or 11%, primarily reflecting decreases in client financial risk management revenue, M&A advisory revenue, and loan syndication revenue, partially offset by an increase in corporate bond fees. Mortgage banking net revenue decreased $15 million, or 22%,
4

primarily reflecting decreases in MSR net valuation adjustments and origination fees and gains on loan sales. Wealth and asset management revenue increased $15 million, or 10%, primarily reflecting increases in personal asset management revenue and brokerage fees. Card and processing revenue increased $2 million, or 2%, driven by higher interchange revenue. Leasing business revenue decreased $18 million, or 32%, reflecting decreases in operating lease revenue and lease remarketing revenue.
Noninterest Expense
($ in millions)For the Three Months Ended% Change
MarchDecemberMarch
202420232023SeqYr/Yr
Noninterest Expense
Compensation and benefits$753 $659 $757 14%(1)%
Net occupancy expense8783815%7%
Technology and communications117117118—(1)%
Equipment expense373737——
Card and processing expense202122(5)%(9)%
Leasing business expense252734(7)%(26)%
Marketing expense3230297%10%
Other noninterest expense271481253(44)%7%
Total noninterest expense$1,342 $1,455 $1,331 (8)%1%

Reported noninterest expense decreased $113 million, or 8%, from the prior quarter, and increased $11 million, or 1%, from the year-ago quarter. The reported results reflect the impact of certain items in the table below.
Noninterest Expense excluding certain item(s)
($ in millions)For the Three Months Ended% Change
MarchDecemberMarch
202420232023SeqYr/Yr
Noninterest Expense excluding certain item(s)
Noninterest expense (U.S. GAAP)$1,342 $1,455 $1,331 
FDIC special assessment(33)(224)—
Mastercard litigation(5)——
Fifth Third Foundation contribution—(15)—
Restructuring severance expense—(5)(12)
Noninterest expense excluding certain item(s)(a)
$1,304 $1,211 $1,3198%(1)%

Compared to the prior quarter, noninterest expense excluding certain items increased $93 million, or 8%, primarily reflecting a seasonal increase in compensation and benefits expense. Noninterest expense in the current quarter included a $15 million expense related to the impact of non-qualified deferred compensation mark-to-market compared to a $17 million expense in the prior quarter, both of which were largely offset in net securities gains through noninterest income.
Compared to the year-ago quarter, noninterest expense excluding certain items decreased $15 million, or 1%, primarily reflecting decreases in leasing business expense and other noninterest expense (excluding the aforementioned certain items), offset by increases in net occupancy expense and marketing expense. The year-ago quarter included a $12 million expense to noninterest expense related to non-qualified deferred compensation mark-to-market (which was largely offset in net securities gains through noninterest income).
5

Average Interest-Earning Assets
($ in millions)For the Three Months Ended% Change
MarchDecemberMarch
202420232023SeqYr/Yr
Average Portfolio Loans and Leases
Commercial loans and leases:
Commercial and industrial loans$53,183 $54,633 $58,149 (3)%(9)%
Commercial mortgage loans11,33911,33811,121—2%
Commercial construction loans5,7325,7275,507—4%
Commercial leases2,5422,5352,662—(5)%
Total commercial loans and leases$72,796$74,233$77,439(2)%(6)%
Consumer loans:
Residential mortgage loans$16,977$17,129$17,581(1)%(3)%
Home equity3,9333,9054,0051%(2)%
Indirect secured consumer loans15,17215,12916,598—(9)%
Credit card1,7731,8291,780(3)%—
Solar energy installation loans3,7943,6302,1695%75%
Other consumer loans2,8893,0033,240(4)%(11)%
Total consumer loans$44,538$44,625$45,373—(2)%
Total average portfolio loans and leases$117,334 $118,858 $122,812 (1)%(4)%
Average Loans and Leases Held for Sale
Commercial loans and leases held for sale$74$72$563%32%
Consumer loans held for sale291379747(23)%(61)%
Total average loans and leases held for sale$365$451$803(19)%(55)%
Total average loans and leases$117,699$119,309$123,615(1)%(5)%
Securities (taxable and tax-exempt)$56,456$57,351$58,514(2)%(4)%
Other short-term investments21,19421,5065,278(1)%302%
Total average interest-earning assets$195,349$198,166$187,407(1)%4%
Compared to the prior quarter, total average portfolio loans and leases decreased 1%, primarily reflecting a decrease in commercial and industrial (C&I) balances driven by lower demand from corporate borrowers, partially offset by an increase in solar energy installation loans. Average commercial portfolio loans and leases decreased 2%, reflecting a decrease in C&I loan balances. Average consumer portfolio loans were flat, primarily reflecting an increase in solar energy installation loan balances, offset by a decrease in residential mortgage loan balances.
Compared to the year-ago quarter, total average portfolio loans and leases decreased 4%, reflecting decreases in both the commercial and consumer portfolios. Average commercial portfolio loans and leases decreased 6%, primarily reflecting a decrease in C&I loan balances, partially offset by increases in commercial construction loan balances and commercial mortgage loan balances. Average consumer portfolio loans decreased 2%, primarily reflecting decreases in indirect secured consumer loan balances and residential mortgage loan balances, partially offset by an increase in solar energy installation loan balances.
Average securities (taxable and tax-exempt; amortized cost) of $56 billion in the current quarter decreased 2% compared to the prior quarter and decreased 4% compared to the year-ago quarter. Average other short-term investments (including interest-bearing cash) of $21 billion in the current quarter decreased 1% compared to the prior quarter and increased 302% compared to the year-ago quarter.
On January 3, 2024, Fifth Third transferred $12.6 billion (amortized cost) of securities, with an unrealized loss of $994
million, from available-for-sale to held-to-maturity. This transfer was in response to Fifth Third's decision to hold these
securities to maturity in order to reduce potential capital volatility associated with investment security market price
fluctuations.
6


Total period-end commercial portfolio loans and leases of $72 billion decreased 1% compared to the prior quarter, primarily reflecting a decrease in C&I loan balances, partially offset by an increase in commercial construction loan balances. Compared to the year-ago quarter, total period-end commercial portfolio loans decreased 7%, primarily reflecting a decrease in C&I loan balances, partially offset by an increase in commercial construction loan balances. Period-end commercial revolving line utilization was 36%, compared to 35% in the prior quarter and 37% in the year-ago quarter.
Period-end consumer portfolio loans of $45 billion were flat compared to the prior quarter, reflecting increases in indirect secured consumer loan balances and solar energy installation loan balances, partially offset by decreases in other consumer loan balances and credit card balances. Compared to the year-ago quarter, total period-end consumer portfolio loans decreased 2%, reflecting decreases in indirect secured consumer loan balances and other loan balances, partially offset by an increase in solar energy installation loan balances.
Total period-end securities (taxable and tax-exempt; amortized cost) of $56 billion in the current quarter decreased 2% compared to the prior quarter and decreased 2% compared to the year-ago quarter. Period-end other short-term investments of approximately $23 billion increased 3% compared to the prior quarter, and increased 133% compared to the year-ago quarter.
7

Average Deposits
($ in millions)For the Three Months Ended% Change
MarchDecemberMarch
202420232023SeqYr/Yr
Average Deposits
Demand$40,839 $43,396 $50,737 (6)%(20)%
Interest checking58,67757,11448,7173%20%
Savings18,10718,25223,107(1)%(22)%
Money market34,58934,29228,4201%22%
Foreign office(g)
145178143(19)%1%
Total transaction deposits$152,357$153,232$151,124(1)%1%
CDs $250,000 or less10,24410,5565,173(3)%98%
Total core deposits$162,601$163,788$156,297(1)%4%
CDs over $250,000 5,5215,6594,348(2)%27%
Total average deposits$168,122 $169,447 $160,645 (1)%5%
CDs over $250,000 includes $4.7BN, $4.8BN, and $4.1BN of retail brokered certificates of deposit which are fully covered by FDIC insurance for the three months ended 3/31/24, 12/31/23, and 3/31/23, respectively.
Compared to the prior quarter, total average deposits decreased 1%, primarily driven by a decline in demand account balances from commercial customer seasonal impacts, partially offset by increases in interest checking and money market balances. Average demand deposits represented 25% of total core deposits in the current quarter, compared to 26% in the prior quarter. Compared to the prior quarter, average consumer segment deposits decreased 1%, average commercial segment deposits were flat, and average wealth & asset management segment deposits were flat. Period-end total deposits were flat compared to the prior quarter.
Compared to the year-ago quarter, total average deposits increased 5%, primarily reflecting increases in interest checking and money market balances, partially offset by decreases in demand account balances and savings balances. Period-end total deposits increased 4% compared to the year-ago quarter.
The period-end portfolio loan-to-core deposit ratio was 71% in the current quarter, compared to 72% in the prior quarter and 78% in the year-ago quarter. Estimated uninsured deposits were approximately $70 billion, or 41% of total deposits, as of quarter end.
Average Wholesale Funding
($ in millions)For the Three Months Ended% Change
MarchDecemberMarch
202420232023SeqYr/Yr
Average Wholesale Funding
CDs over $250,000$5,521 $5,659 $4,348 (2)%27%
Federal funds purchased2011914875%(59)%
Securities sold under repurchase agreements3663503275%12%
FHLB advances3,1113,2934,803(6)%(35)%
Derivative collateral and other secured borrowings573424568%(77)%
Long-term debt15,51516,58813,510(6)%15%
Total average wholesale funding$24,771$26,115$23,720(5)%4%
CDs over $250,000 includes $4.7BN, $4.8BN, and $4.1BN of retail brokered certificates of deposit which are fully covered by FDIC insurance for the three months ended 3/31/24, 12/31/23, and 3/31/23, respectively.
Compared to the prior quarter, average wholesale funding decreased 5%, primarily reflecting decreases in long-term debt and FHLB advances. Compared to the year-ago quarter, average wholesale funding increased 4%, primarily reflecting an increase in long-term debt and CDs over $250,000, partially offset by a decrease in FHLB advances.
8

Credit Quality Summary
($ in millions)As of and For the Three Months Ended
MarchDecemberSeptemberJuneMarch
20242023202320232023
Total nonaccrual portfolio loans and leases (NPLs)$708$649$570$629$593
Repossessed property8101188
OREO2729312422
Total nonperforming portfolio loans and leases and OREO (NPAs)$743$688$612$661$623
NPL ratio(h)
0.61 %0.55 %0.47 %0.52 %0.48 %
NPA ratio(c)
0.64 %0.59 %0.51 %0.54 %0.51 %
Portfolio loans and leases 30-89 days past due (accrual)$342$359$316$339$317
Portfolio loans and leases 90 days past due (accrual)3536295146
30-89 days past due as a % of portfolio loans and leases0.29 %0.31 %0.26 %0.28 %0.26 %
90 days past due as a % of portfolio loans and leases0.03 %0.03 %0.02 %0.04 %0.04 %
Allowance for loan and lease losses (ALLL), beginning$2,322 $2,340 $2,327 $2,215 $2,194 
Impact of adoption of ASU 2022-02————(49)
Total net losses charged-off(110)(96)(124)(90)(78)
Provision for loan and lease losses10678137202148
ALLL, ending$2,318$2,322$2,340$2,327$2,215
Reserve for unfunded commitments, beginning$166$189$207$232$216
(Benefit from) provision for the reserve for unfunded commitments(12)(23)(18)(25)16
Reserve for unfunded commitments, ending$154$166$189$207$232
Total allowance for credit losses (ACL)$2,472 $2,488 $2,529 $2,534 $2,447 
ACL ratios:
As a % of portfolio loans and leases2.12 % 2.12 % 2.11 % 2.08 % 1.99 % 
As a % of nonperforming portfolio loans and leases349 % 383 % 443 % 403 % 413 % 
As a % of nonperforming portfolio assets333 % 362 % 413 % 383 % 393 % 
ALLL as a % of portfolio loans and leases1.99 %1.98 %1.95 %1.91 %1.80 %
Total losses charged-off$(146)$(133)$(158)$(121)$(110)
Total recoveries of losses previously charged-off3637343132
Total net losses charged-off$(110)$(96)$(124)$(90)$(78)
Net charge-off ratio (NCO ratio)(b)
0.38 %0.32 %0.41 %0.29 %0.26 %
Commercial NCO ratio0.19 %0.13 %0.34 %0.16 %0.17 %
Consumer NCO ratio0.67 %0.64 %0.53 %0.50 %0.42 %
Nonperforming portfolio loans and leases were $708 million in the current quarter, with the resulting NPL ratio of 0.61%. Compared to the prior quarter, NPLs increased $59 million with the NPL ratio increasing 6 bps. Compared to the year-ago quarter, NPLs increased $115 million with the NPL ratio increasing 13 bps.
Nonperforming portfolio assets were $743 million in the current quarter, with the resulting NPA ratio of 0.64%. Compared to the prior quarter, NPAs increased $55 million with the NPA ratio increasing 5 bps. Compared to the year-ago quarter, NPAs increased $120 million with the NPA ratio increasing 13 bps.
The provision for credit losses totaled $94 million in the current quarter. The allowance for credit loss ratio represented 2.12% of total portfolio loans and leases at quarter end, compared with 2.12% for the prior quarter end and 1.99% for the
9

year-ago quarter end. In the current quarter, the allowance for credit losses represented 349% of nonperforming portfolio loans and leases and 333% of nonperforming portfolio assets.
Net charge-offs were $110 million in the current quarter, resulting in an NCO ratio of 0.38%. Compared to the prior quarter, net charge-offs increased $14 million and the NCO ratio increased 6 bps. Commercial net charge-offs were $35 million, resulting in a commercial NCO ratio of 0.19%, which increased 6 bps compared to the prior quarter. Consumer net charge-offs were $75 million, resulting in a consumer NCO ratio of 0.67%, which increased 3 bps compared to the prior quarter.
Compared to the year-ago quarter, net charge-offs increased $32 million and the NCO ratio increased 12 bps, reflecting a continued normalization from near-historically low net charge-offs in the year-ago quarter. The commercial NCO ratio increased 2 bps compared to the prior year, and the consumer NCO ratio increased 25 bps compared to the prior year.

Capital Position
As of and For the Three Months Ended
MarchDecemberSeptemberJuneMarch
20242023202320232023
Capital Position
Average total Bancorp shareholders' equity as a % of average assets
8.78%8.04%8.30%8.90%8.77 %
Tangible equity(a)
8.75%8.65%8.46%8.58%8.39 %
Tangible common equity (excluding AOCI)(a)
7.77%7.67%7.49%7.57%7.38 %
Tangible common equity (including AOCI)(a)
5.67%5.73%4.51%5.26%5.49 %
Regulatory Capital Ratios(d)(e)
CET1 capital
10.44 %10.29%9.80%9.49%9.28 %
Tier 1 risk-based capital
11.75 %11.59%11.06%10.73%10.53 %
Total risk-based capital
13.78 %13.72%13.13%12.83%12.64 %
Leverage8.94 %8.73%8.85%8.81%8.67 %
The CET1 capital ratio was 10.44%, the Tangible common equity to tangible assets ratio was 7.77% excluding AOCI, and 5.67% including AOCI. The Tier 1 risk-based capital ratio was 11.75%, the Total risk-based capital ratio was 13.78%, and the Leverage ratio was 8.94%. Fifth Third did not execute share repurchases in the first quarter of 2024.
10

Tax Rate
The effective tax rate for the quarter was 21.1% compared with 18.4% in the prior quarter and 22.3% in the year-ago quarter.
Conference Call
Fifth Third will host a conference call to discuss these financial results at 9:00 a.m. (Eastern Time) today. This conference call will be webcast live and may be accessed through the Fifth Third Investor Relations website at www.53.com (click on “About Us” then “Investor Relations”). Those unable to listen to the live webcast may access a webcast replay through the Fifth Third Investor Relations website at the same web address, which will be available for 30 days.
Corporate Profile
Fifth Third is a bank that’s as long on innovation as it is on history. Since 1858, we’ve been helping individuals, families, businesses and communities grow through smart financial services that improve lives. Our list of firsts is extensive, and it’s one that continues to expand as we explore the intersection of tech-driven innovation, dedicated people, and focused community impact. Fifth Third is one of the few U.S.-based banks to have been named among Ethisphere's World’s Most Ethical Companies® for several years. With a commitment to taking care of our customers, employees, communities and shareholders, our goal is not only to be the nation’s highest performing regional bank, but to be the bank people most value and trust.

Fifth Third Bank, National Association is a federally chartered institution. Fifth Third Bancorp is the indirect parent company of Fifth Third Bank and its common stock is traded on the NASDAQ® Global Select Market under the symbol “FITB.” Investor information and press releases can be viewed at www.53.com.

Earnings Release End Notes
(a)Non-GAAP measure; see discussion of non-GAAP reconciliation beginning on page 26.
(b)Net losses charged-off as a percent of average portfolio loans and leases presented on an annualized basis.
(c)Nonperforming portfolio assets as a percent of portfolio loans and leases and OREO.
(d)Regulatory capital ratios are calculated pursuant to the five-year transition provision option to phase in the effects of CECL on regulatory capital after its adoption on January 1, 2020.
(e)Current period regulatory capital ratios are estimated.
(f)Assumes a 23% tax rate.
(g)Includes commercial customer Eurodollar sweep balances for which the Bank pays rates comparable to other commercial deposit accounts.
(h)Nonperforming portfolio loans and leases as a percent of portfolio loans and leases.




11


FORWARD-LOOKING STATEMENTS

This release contains statements that we believe are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Rule 175 promulgated thereunder, and Section 21E of the Securities Exchange Act of 1934, as amended, and Rule 3b-6 promulgated thereunder. All statements other than statements of historical fact are forward-looking statements. These statements relate to our financial condition, results of operations, plans, objectives, future performance, capital actions or business. They usually can be identified by the use of forward-looking language such as “will likely result,” “may,” “are expected to,” “is anticipated,” “potential,” “estimate,” “forecast,” “projected,” “intends to,” or may include other similar words or phrases such as “believes,” “plans,” “trend,” “objective,” “continue,” “remain,” or similar expressions, or future or conditional verbs such as “will,” “would,” “should,” “could,” “might,” “can,” or similar verbs. You should not place undue reliance on these statements, as they are subject to risks and uncertainties, including but not limited to the risk factors set forth in our most recent Annual Report on Form 10-K as updated by our filings with the U.S. Securities and Exchange Commission (“SEC”).

There are a number of important factors that could cause future results to differ materially from historical performance and these forward-looking statements. Factors that might cause such a difference include, but are not limited to: (1) deteriorating credit quality; (2) loan concentration by location or industry of borrowers or collateral; (3) problems encountered by other financial institutions; (4) inadequate sources of funding or liquidity; (5) unfavorable actions of rating agencies; (6) inability to maintain or grow deposits; (7) limitations on the ability to receive dividends from subsidiaries; (8) cyber-security risks; (9) Fifth Third’s ability to secure confidential information and deliver products and services through the use of computer systems and telecommunications networks; (10) failures by third-party service providers; (11) inability to manage strategic initiatives and/or organizational changes; (12) inability to implement technology system enhancements; (13) failure of internal controls and other risk management programs; (14) losses related to fraud, theft, misappropriation or violence; (15) inability to attract and retain skilled personnel; (16) adverse impacts of government regulation; (17) governmental or regulatory changes or other actions; (18) failures to meet applicable capital requirements; (19) regulatory objections to Fifth Third’s capital plan; (20) regulation of Fifth Third’s derivatives activities; (21) deposit insurance premiums; (22) assessments for the orderly liquidation fund; (23) weakness in the national or local economies; (24) global political and economic uncertainty or negative actions; (25) changes in interest rates and the effects of inflation; (26) changes and trends in capital markets; (27) fluctuation of Fifth Third’s stock price; (28) volatility in mortgage banking revenue; (29) litigation, investigations, and enforcement proceedings by governmental authorities; (30) breaches of contractual covenants, representations and warranties; (31) competition and changes in the financial services industry; (32) potential impacts of the adoption of real-time payment networks; (33) changing retail distribution strategies, customer preferences and behavior; (34) difficulties in identifying, acquiring or integrating suitable strategic partnerships, investments or acquisitions; (35) potential dilution from future acquisitions; (36) loss of income and/or difficulties encountered in the sale and separation of businesses, investments or other assets; (37) results of investments or acquired entities; (38) changes in accounting standards or interpretation or declines in the value of Fifth Third’s goodwill or other intangible assets; (39) inaccuracies or other failures from the use of models; (40) effects of critical accounting policies and judgments or the use of inaccurate estimates; (41) weather-related events, other natural disasters, or health emergencies (including pandemics); (42) the impact of reputational risk created by these or other developments on such matters as business generation and retention, funding and liquidity; (43) changes in law or requirements imposed by Fifth Third’s regulators impacting our capital actions, including dividend payments and stock repurchases; and (44) Fifth Third's ability to meet its environmental and/or social targets, goals and commitments.

You should refer to our periodic and current reports filed with the Securities and Exchange Commission, or “SEC,” for further information on other factors, which could cause actual results to be significantly different from those expressed or implied by these forward-looking statements. Moreover, you should treat these statements as speaking only as of the date they are made and based only on information then actually known to us. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any changes in events, conditions or circumstances on which any such statement is based, except as may be required by law, and we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. The information contained herein is intended to be reviewed in its totality, and any stipulations, conditions or provisos that apply to a given piece of information in one part of this press release should be read as applying mutatis mutandis to every other instance of such information appearing herein.
# # #


12

http://api.rkd.refinitiv.com/api/FilingsRetrieval3/.78553505.a53_logoxhorizontalxfullcoa.jpg.ashx
Quarterly Financial Review for March 31, 2024

Table of Contents


Financial Highlights14-15
Consolidated Statements of Income16-17
Consolidated Balance Sheets18-19
Consolidated Statements of Changes in Equity20
Average Balance Sheets and Yield/Rate Analysis21
Summary of Loans and Leases22
Regulatory Capital23
Summary of Credit Loss Experience24
Asset Quality25
Non-GAAP Reconciliation26-28
Segment Presentation29


13


Fifth Third Bancorp and Subsidiaries
Financial HighlightsAs of and For the Three Months Ended% / bps
$ in millions, except per share dataChange
(unaudited)MarchDecemberMarch
202420232023SeqYr/Yr
Income Statement Data
Net interest income$1,384$1,416$1,517(2%)(9%)
Net interest income (FTE)(a)
1,3901,4231,522(2%)(9%)
Noninterest income710744696(5%)2%
Total revenue (FTE)(a)
2,1002,1672,218(3%)(5%)
Provision for credit losses945516471%(43%)
Noninterest expense1,3421,4551,331(8%)1%
Net income520530558(2%)(7%)
Net income available to common shareholders480492535(2%)(10%)
Earnings Per Share Data
Net income allocated to common shareholders$480$492$535(2%)(10%)
Average common shares outstanding (in thousands):
Basic685,750684,413684,017——
Diluted690,634687,729689,566——
Earnings per share, basic$0.70$0.72$0.78(3%)(10%)
Earnings per share, diluted0.700.720.78(3%)(10%)
Common Share Data
Cash dividends per common share$0.35$0.35$0.33—6%
Book value per share24.7225.0423.87(1%)4%
Market value per share37.2134.4926.648%40%
Common shares outstanding (in thousands)683,812681,125680,537——
Market capitalization$25,445$23,492$18,1298%40%
Financial Ratios
Return on average assets0.98 %0.98 %1.10 %—(12)
Return on average common equity11.6 %12.9 %13.7 %(132)(206)
Return on average tangible common equity(a)
17.0 %19.8 %20.5 %(281)(351)
Noninterest income as a percent of total revenue(a)
34 %34 %31 %—300
Dividend payout50.0 %48.6 %42.3 %140770
Average total Bancorp shareholders’ equity as a percent of average assets
8.78 %8.04 %8.77 %741
Tangible common equity(a)
7.77 %7.67 %7.38 %1039
Net interest margin (FTE)(a)
2.86 %2.85 %3.29 %1(43)
Efficiency (FTE)(a)
63.9 %67.2 %60.0 %(330)390
Effective tax rate21.1 %18.4 %22.3 %270(120)
Credit Quality
Net losses charged-off$110$96$7815 %41 %
Net losses charged-off as a percent of average portfolio loans and leases (annualized)0.38 %0.32 %0.26 %612
ALLL as a percent of portfolio loans and leases1.99 %1.98 %1.80 %119
ACL as a percent of portfolio loans and leases(g)
2.12 %2.12 %1.99 %—13
Nonperforming portfolio assets as a percent of portfolio loans and leases and OREO0.64 %0.59 %0.51 %513
Average Balances
Loans and leases, including held for sale$117,699$119,309$123,615(1%)(5%)
Securities and other short-term investments77,65078,85763,792(2%)22%
Assets213,203214,057205,084—4%
Transaction deposits(b)
152,357153,232151,124(1%)1%
Core deposits(c)
162,601163,788156,297(1%)4%
Wholesale funding(d)
24,77126,11523,720(5%)4%
Bancorp shareholders' equity
18,72717,20117,9779%4%
Regulatory Capital Ratios(e)(f)
CET1 capital
10.44 %10.29 %9.28 %15116
Tier 1 risk-based capital
11.75 %11.59 %10.53 %16122
Total risk-based capital
13.78 %13.72 %12.64 %6114
Leverage8.94 %8.73 %8.67 %2127
Additional Metrics
Banking centers1,0701,0881,069(2%)—
ATMs2,0822,1042,118(1%)(2%)
Full-time equivalent employees18,65718,72419,474—(4%)
Assets under care ($ in billions)(h)
$634$574$54210%17%
Assets under management ($ in billions)(h)
6259575%9%
(a)Non-GAAP measure; see discussion and reconciliation of non-GAAP measures beginning on page 26.
(b)Includes demand, interest checking, savings, money market and foreign office deposits of commercial customers.
(c)Includes transaction deposits plus CDs $250,000 or less.
(d)Includes CDs over $250,000, other deposits, federal funds purchased, other short-term borrowings and long-term debt.
(e)Current period regulatory capital ratios are estimates.
(f)Regulatory capital ratios are calculated pursuant to the five-year transition provision option to phase in the effects of CECL on regulatory capital after its adoption on January 1, 2020.
(g)The allowance for credit losses is the sum of the ALLL and the reserve for unfunded commitments.
(h)Assets under management and assets under care include trust and brokerage assets.

14


Fifth Third Bancorp and Subsidiaries
Financial Highlights
$ in millions, except per share dataAs of and For the Three Months Ended
(unaudited)MarchDecemberSeptemberJuneMarch
20242023202320232023
Income Statement Data
Net interest income$1,384$1,416$1,438$1,457$1,517
Net interest income (FTE)(a)
1,3901,4231,4451,4631,522
Noninterest income710744715726696
Total revenue (FTE)(a)
2,1002,1672,1602,1892,218
Provision for credit losses9455119177164
Noninterest expense1,3421,4551,1881,2311,331
Net income520530660601558
Net income available to common shareholders480492623562535
Earnings Per Share Data
Net income allocated to common shareholders$480$492$623$562$535
Average common shares outstanding (in thousands):
Basic685,750684,413684,224684,029684,017
Diluted690,634687,729687,059686,386689,566
Earnings per share, basic$0.70$0.72$0.91$0.82$0.78
Earnings per share, diluted0.700.720.910.820.78
Common Share Data
Cash dividends per common share$0.35$0.35$0.35$0.33$0.33
Book value per share24.7225.0421.1923.0523.87
Market value per share37.2134.4925.3326.2126.64
Common shares outstanding (in thousands)683,812681,125680,990680,850680,537
Market capitalization$25,445$23,492$17,249$17,845$18,129
Financial Ratios
Return on average assets0.98 %0.98 %1.26 %1.17 %1.10 %
Return on average common equity11.6 %12.9 %16.3 %13.9 %13.7 %
Return on average tangible common equity(a)
17.0 %19.8 %24.7 %20.5 %20.5 %
Noninterest income as a percent of total revenue(a)
34 %34 %33 %33 %31 %
Dividend payout50.0 %48.6 %38.5 %40.2 %42.3 %
Average total Bancorp shareholders’ equity as a percent of average assets
8.78 %8.04 %8.30 %8.90 %8.77 %
Tangible common equity(a)
7.77 %7.67 %7.49 %7.57 %7.38 %
Net interest margin (FTE)(a)
2.86 %2.85 %2.98 %3.10 %3.29 %
Efficiency (FTE)(a)
63.9 %67.2 %55.0 %56.2 %60.0 %
Effective tax rate21.1 %18.4 %22.0 %22.5 %22.3 %
Credit Quality
Net losses charged-off$110$96$124$90$78
Net losses charged-off as a percent of average portfolio loans and leases (annualized)0.38 %0.32 %0.41 %0.29 %0.26 %
ALLL as a percent of portfolio loans and leases1.99 %1.98 %1.95 %1.91 %1.80 %
ACL as a percent of portfolio loans and leases(g)
2.12 %2.12 %2.11 %2.08 %1.99 %
Nonperforming portfolio assets as a percent of portfolio loans and leases and OREO0.64 %0.59 %0.51 %0.54 %0.51 %
Average Balances
Loans and leases, including held for sale$117,699$119,309$122,266$123,987$123,615
Securities and other short-term investments77,65078,85769,95065,07363,792
Assets213,203214,057208,385206,079205,084
Transaction deposits(b)
152,357153,232150,088147,723151,124
Core deposits(c)
162,601163,788159,718155,482156,297
Wholesale funding(d)
24,77126,11524,28925,62823,720
Bancorp shareholders’ equity
18,72717,20117,30518,34417,977
Regulatory Capital Ratios(e)(f)
CET1 capital
10.44 %10.29 %9.80 %9.49 %9.28 %
Tier 1 risk-based capital11.75 %11.59 %11.06 %10.73 %10.53 %
Total risk-based capital
13.78 %13.72 %13.13 %12.83 %12.64 %
Leverage8.94 %8.73 %8.85 %8.81 %8.67 %
Additional Metrics
Banking centers1,0701,0881,0731,0721,069
ATMs2,0822,1042,1012,1142,118
Full-time equivalent employees18,65718,72418,80419,22519,474
Assets under care ($ in billions)(h)
$634$574$547$554$542
Assets under management ($ in billions)(h)
6259575957
(a)Non-GAAP measure; see discussion and reconciliation of non-GAAP measures beginning on page 26.
(b)Includes demand, interest checking, savings, money market and foreign office deposits of commercial customers.
(c)Includes transaction deposits plus CDs $250,000 or less.
(d)Includes CDs over $250,000, other deposits, federal funds purchased, other short-term borrowings and long-term debt.
(e)Current period regulatory capital ratios are estimates.
(f)Regulatory capital ratios are calculated pursuant to the five-year transition provision option to phase in the effects of CECL on regulatory capital after its adoption on January 1, 2020.
(g)The allowance for credit losses is the sum of the ALLL and the reserve for unfunded commitments.
(h)Assets under management and assets under care include trust and brokerage assets.
15

Fifth Third Bancorp and Subsidiaries
Consolidated Statements of Income
$ in millionsFor the Three Months Ended% Change
(unaudited)MarchDecemberMarch
202420232023SeqYr/Yr
Interest Income
Interest and fees on loans and leases$1,859$1,889$1,714(2%)8%
Interest on securities4554514391%4%
Interest on other short-term investments29430860(5%)390%
Total interest income2,6082,6482,213(2%)18%
Interest Expense
Interest on deposits954952478—100%
Interest on federal funds purchased335—(40%)
Interest on other short-term borrowings474957(4%)(18%)
Interest on long-term debt220228156(4%)41%
Total interest expense1,2241,232696(1%)76%
Net Interest Income1,3841,4161,517(2%)(9%)
Provision for credit losses945516471%(43%)
Net Interest Income After Provision for Credit Losses1,2901,3611,353(5%)(5%)
Noninterest Income
Service charges on deposits1511461373%10%
Commercial banking revenue143163161(12%)(11%)
Mortgage banking net revenue546669(18%)(22%)
Wealth and asset management revenue16114714610%10%
Card and processing revenue102106100(4%)2%
Leasing business revenue394657(15%)(32%)
Other noninterest income505422(7%)127%
Securities gains, net10154(33%)150%
Securities gains, net - non-qualifying hedges on mortgage servicing rights—1—(100%)NM
Total noninterest income710744696(5%)2%
Noninterest Expense
Compensation and benefits75365975714%(1%)
Net occupancy expense8783815%7%
Technology and communications117117118—(1%)
Equipment expense373737——
Card and processing expense202122(5%)(9%)
Leasing business expense252734(7%)(26%)
Marketing expense3230297%10%
Other noninterest expense271481253(44%)7%
Total noninterest expense1,3421,4551,331(8%)1%
Income Before Income Taxes6586507181%(8%)
Applicable income tax expense13812016015%(14%)
Net Income520530558(2%)(7%)
Dividends on preferred stock4038235%74%
Net Income Available to Common Shareholders$480$492$535(2%)(10%)
16

Fifth Third Bancorp and Subsidiaries
Consolidated Statements of Income
$ in millionsFor the Three Months Ended
(unaudited)MarchDecemberSeptemberJuneMarch
20242023202320232023
Interest Income
Interest and fees on loans and leases$1,859$1,889$1,899$1,831$1,714
Interest on securities455451444437439
Interest on other short-term investments29430818610260
Total interest income2,6082,6482,5292,3702,213
Interest Expense
Interest on deposits954952844655478
Interest on federal funds purchased33255
Interest on other short-term borrowings4749529057
Interest on long-term debt220228193163156
Total interest expense1,2241,2321,091913696
Net Interest Income1,3841,4161,4381,4571,517
Provision for credit losses9455119177164
Net Interest Income After Provision for Credit Losses1,2901,3611,3191,2801,353
Noninterest Income
Service charges on deposits151146149144137
Commercial banking revenue143163154146161
Mortgage banking net revenue5466575969
Wealth and asset management revenue161147145143146
Card and processing revenue102106104106100
Leasing business revenue3946584757
Other noninterest income5054557422
Securities gains (losses), net1015(7)74
Securities gains, net - non-qualifying hedges on mortgage servicing rights—1———
Total noninterest income710744715726696
Noninterest Expense
Compensation and benefits753659629650757
Net occupancy expense8783848381
Technology and communications117117115114118
Equipment expense3737373637
Card and processing expense2021212022
Leasing business expense2527293134
Marketing expense3230353129
Other noninterest expense271481238266253
Total noninterest expense1,3421,4551,1881,2311,331
Income Before Income Taxes658650846775718
Applicable income tax expense138120186174160
Net Income520530660601558
Dividends on preferred stock4038373923
Net Income Available to Common Shareholders$480$492$623$562$535
17

Fifth Third Bancorp and Subsidiaries
Consolidated Balance Sheets
$ in millions, except per share dataAs of% Change
(unaudited)MarchDecemberMarch
202420232023SeqYr/Yr
Assets
Cash and due from banks$2,796$3,142$2,780(11%)1%
Other short-term investments22,84022,0829,7943%133%
Available-for-sale debt and other securities(a)
38,79150,41950,719(23%)(24%)
Held-to-maturity securities(b)
11,52022NMNM
Trading debt securities1,1518991,17428%(2%)
Equity securities380613323(38%)18%
Loans and leases held for sale339378749(10%)(55%)
Portfolio loans and leases:
  Commercial and industrial loans52,20953,27057,720(2%)(10%)
  Commercial mortgage loans11,34611,27611,2281%1%
  Commercial construction loans5,7895,6215,5483%4%
  Commercial leases2,5722,5792,743—(6%)
Total commercial loans and leases71,91672,74677,239(1%)(7%)
  Residential mortgage loans16,99517,02617,608—(3%)
  Home equity3,8833,9163,958(1%)(2%)
  Indirect secured consumer loans15,30614,96516,4842%(7%)
  Credit card1,7371,8651,761(7%)(1%)
  Solar energy installation loans3,8713,7282,4164%60%
  Other consumer loans2,7772,9883,391(7%)(18%)
Total consumer loans44,56944,48845,618—(2%)
Portfolio loans and leases116,485117,234122,857(1%)(5%)
Allowance for loan and lease losses(2,318)(2,322)(2,215)—5%
Portfolio loans and leases, net114,167114,912120,642(1%)(5%)
Bank premises and equipment2,3762,3492,2191%7%
Operating lease equipment427459578(7%)(26%)
Goodwill4,9184,9194,915——
Intangible assets115125157(8%)(27%)
Servicing rights1,7561,7371,7251%2%
Other assets12,93012,53812,8803%—
Total Assets$214,506$214,574$208,657—3%
Liabilities
Deposits:
  Demand $41,849$43,146$49,649(3%)(16%)
  Interest checking 58,80957,25749,9243%18%
  Savings 18,22918,21522,563—(19%)
  Money market 35,02534,37428,4822%23%
  Foreign office 129162134(20%)(4%)
  CDs $250,000 or less10,33710,5526,624(2%)56%
  CDs over $250,0005,2095,2065,599—(7%)
Total deposits169,587168,912162,975—4%
Federal funds purchased24719317728%40%
Other short-term borrowings2,8662,8617,364—(61%)
Accrued taxes, interest and expenses1,9652,1951,577(10%)25%
Other liabilities5,3794,8615,30711%1%
Long-term debt15,44416,38012,893(6%)20%
Total Liabilities195,488195,402190,293—3%
Equity
Common stock(c)
2,0512,0512,051——
Preferred stock2,1162,1162,116——
Capital surplus3,7423,7573,682—2%
Retained earnings23,22422,99722,0321%5%
Accumulated other comprehensive loss(4,888)(4,487)(4,245)9%15%
Treasury stock(7,227)(7,262)(7,272)—(1%)
Total Equity19,01819,17218,364(1%)4%
Total Liabilities and Equity$214,506$214,574$208,657—3%
(a) Amortized cost$43,400$55,789$55,958(22%)(22%)
(b) Market values11,341 2 2 NMNM
(c) Common shares, stated value $2.22 per share (in thousands):
Authorized2,000,0002,000,0002,000,000——
Outstanding, excluding treasury683,812681,125680,537——
Treasury240,080242,768243,356——


18

Fifth Third Bancorp and Subsidiaries
Consolidated Balance Sheets
$ in millions, except per share dataAs of
(unaudited)MarchDecemberSeptemberJuneMarch
20242023202320232023
Assets
Cash and due from banks$2,796$3,142$2,837$2,594$2,780
Other short-term investments22,84022,08218,92310,9439,794
Available-for-sale debt and other securities(a)
38,79150,41947,89349,32950,719
Held-to-maturity securities(b)
11,5202222
Trading debt securities1,1518991,2221,1391,174
Equity securities380613250331323
Loans and leases held for sale339378614760749
Portfolio loans and leases:
  Commercial and industrial loans52,20953,27055,79056,89757,720
  Commercial mortgage loans11,34611,27611,12211,31011,228
  Commercial construction loans5,7895,6215,5825,4755,548
  Commercial leases2,5722,5792,6242,6702,743
Total commercial loans and leases71,91672,74675,11876,35277,239
  Residential mortgage loans16,99517,02617,29317,50317,608
  Home equity3,8833,9163,8983,9113,958
  Indirect secured consumer loans15,30614,96515,43416,09716,484
  Credit card1,7371,8651,8171,8181,761
  Solar energy installation loans3,8713,7283,3832,9612,416
  Other consumer loans2,7772,9883,1453,2493,391
Total consumer loans44,56944,48844,97045,53945,618
Portfolio loans and leases116,485117,234120,088121,891122,857
Allowance for loan and lease losses(2,318)(2,322)(2,340)(2,327)(2,215)
Portfolio loans and leases, net114,167114,912117,748119,564120,642
Bank premises and equipment2,3762,3492,3032,2752,219
Operating lease equipment427459480537578
Goodwill4,9184,9194,9194,9194,915
Intangible assets115125136146157
Servicing rights1,7561,7371,8221,7641,725
Other assets12,93012,53813,81812,97312,880
Total Assets$214,506$214,574$212,967$207,276$208,657
Liabilities
Deposits:
  Demand $41,849$43,146$43,844$45,264$49,649
  Interest checking58,80957,25753,42152,74349,924
  Savings 18,22918,21520,19521,34222,563
  Money market 35,02534,37433,49230,01228,482
  Foreign office 129162168182134
CDs $250,000 or less10,33710,55210,3068,8336,624
CDs over $250,0005,2095,2066,2465,7525,599
Total deposits169,587168,912167,672164,128162,975
Federal funds purchased247193205163177
Other short-term borrowings2,8662,8614,5945,8177,364
Accrued taxes, interest and expenses1,9652,1951,8341,7651,577
Other liabilities5,3794,8615,8085,3165,307
Long-term debt15,44416,38016,31012,27812,893
Total Liabilities195,488195,402196,423189,467190,293
Equity
Common stock(c)
2,0512,0512,0512,0512,051
Preferred stock2,1162,1162,1162,1162,116
Capital surplus3,7423,7573,7333,7083,682
Retained earnings23,22422,99722,74722,36622,032
Accumulated other comprehensive loss(4,888)(4,487)(6,839)(5,166)(4,245)
Treasury stock(7,227)(7,262)(7,264)(7,266)(7,272)
Total Equity19,01819,17216,54417,80918,364
Total Liabilities and Equity$214,506$214,574$212,967$207,276$208,657
(a) Amortized cost$43,400$55,789$55,557$55,399$55,958
(b) Market values11,3412222
(c) Common shares, stated value $2.22 per share (in thousands):
Authorized2,000,0002,000,0002,000,0002,000,0002,000,000
Outstanding, excluding treasury683,812681,125680,990680,850680,537
Treasury240,080242,768242,903243,042243,356
19

Fifth Third Bancorp and Subsidiaries
Consolidated Statements of Changes in Equity
$ in millions
(unaudited)
For the Three Months Ended
MarchMarch
20242023
Total Equity, Beginning$19,172$17,327
Impact of cumulative effect of change in accounting principle(10)37
Net income520558
Other comprehensive (loss) income, net of tax:
Change in unrealized losses:
Available-for-sale debt securities(179)600
Qualifying cash flow hedges(247)265
Amortization of unrealized losses on securities transferred to held-to-maturity25—
Comprehensive income1191,423
Cash dividends declared:
Common stock(243)(229)
Preferred stock(40)(23)
Impact of stock transactions under stock compensation plans, net2030
Shares acquired for treasury—(201)
Total Equity, Ending$19,018$18,364
20

Fifth Third Bancorp and Subsidiaries
Average Balance Sheet and Yield/Rate AnalysisFor the Three Months Ended
$ in millionsMarchDecemberMarch
(unaudited)202420232023
AverageAverageAverageAverageAverageAverage
BalanceYield/RateBalanceYield/RateBalanceYield/Rate
Assets
Interest-earning assets:
Loans and leases:
  Commercial and industrial loans(a)
$53,2567.08 %$54,6887.10 %$58,2046.41 %
  Commercial mortgage loans(a)
11,3396.28 %11,3386.26 %11,1215.54 %
  Commercial construction loans(a)
5,7327.20 %5,7446.96 %5,5076.50 %
  Commercial leases(a)
2,5434.24 %2,5353.76 %2,6633.48 %
Total commercial loans and leases72,8706.87 %74,3056.85 %77,4956.19 %
  Residential mortgage loans17,2683.55 %17,5083.51 %18,3293.39 %
  Home equity3,9338.29 %3,9058.28 %4,0066.47 %
  Indirect secured consumer loans15,1724.93 %15,1294.69 %16,5983.95 %
  Credit card1,77313.73 %1,82913.81 %1,78014.16 %
  Solar energy installation loans3,7947.77 %3,6307.00 %2,1694.62 %
  Other consumer loans2,8898.96 %3,0038.99 %3,2388.52 %
Total consumer loans44,8295.54 %45,0045.38 %46,1204.69 %
Total loans and leases117,6996.36 %119,3096.30 %123,6155.63 %
Securities:
Taxable securities55,0163.26 %55,8843.13 %57,1103.06 %
Tax exempt securities(a)
1,4403.27 %1,4673.29 %1,4043.11 %
Other short-term investments21,1945.58 %21,5065.68 %5,2784.65 %
Total interest-earning assets195,3495.38 %198,1665.31 %187,4074.80 %
Cash and due from banks2,7432,7593,136
Other assets17,43215,47116,687
Allowance for loan and lease losses(2,321)(2,339)(2,146)
Total Assets$213,203$214,057$205,084
Liabilities
Interest-bearing liabilities:
  Interest checking deposits$58,6773.38 %$57,1143.41 %$48,7172.34 %
  Savings deposits18,1070.69 %18,2520.63 %23,1070.59 %
  Money market deposits34,5892.91 %34,2922.85 %28,4201.20 %
  Foreign office deposits1452.43 %1782.32 %1431.91 %
  CDs $250,000 or less10,2444.15 %10,5564.14 %5,1732.67 %
Total interest-bearing core deposits121,7622.91 %120,3922.89 %105,5601.67 %
  CDs over $250,0005,5215.22 %5,6595.21 %4,3484.15 %
Total interest-bearing deposits127,2833.01 %126,0513.00 %109,9081.76 %
  Federal funds purchased2015.41 %1915.38 %4874.55 %
  Securities sold under repurchase agreements3661.82 %3501.47 %3270.73 %
  FHLB advances3,1115.72 %3,2935.66 %4,8034.44 %
  Derivative collateral and other secured borrowings577.21 %349.77 %2455.90 %
  Long-term debt15,5155.71 %16,5885.47 %13,5104.68 %
Total interest-bearing liabilities146,5333.36 %146,5073.34 %129,2802.18 %
Demand deposits40,83943,39650,737
Other liabilities7,1046,9537,090
Total Liabilities194,476196,856187,107
Total Equity18,72717,20117,977
Total Liabilities and Equity$213,203$214,057$205,084
Ratios:
  Net interest margin (FTE)(b)
2.86 %2.85 %3.29 %
  Net interest rate spread (FTE)(b)
2.02 %1.97 %2.62 %
  Interest-bearing liabilities to interest-earning assets75.01 %73.93 %68.98 %
(a) Average Yield/Rate of these assets are presented on an FTE basis.
(b) Non-GAAP measure; see discussion and reconciliation of non-GAAP measures beginning on page 26.









21

Fifth Third Bancorp and Subsidiaries
Summary of Loans and Leases
$ in millionsFor the Three Months Ended
(unaudited)MarchDecemberSeptemberJuneMarch
20242023202320232023
Average Portfolio Loans and Leases
Commercial loans and leases:
  Commercial and industrial loans$53,183$54,633$57,001$58,137$58,149
  Commercial mortgage loans11,33911,33811,21611,37311,121
  Commercial construction loans5,7325,7275,5395,5355,507
  Commercial leases2,5422,5352,6162,7002,662
Total commercial loans and leases72,79674,23376,37277,74577,439
Consumer loans:
  Residential mortgage loans16,97717,12917,40017,51717,581
  Home equity3,9333,9053,8973,9374,005
  Indirect secured consumer loans15,17215,12915,78716,28116,598
  Credit card1,7731,8291,8081,7831,780
  Solar energy installation loans3,7943,6303,2452,7872,169
  Other consumer loans2,8893,0033,1213,2773,240
Total consumer loans44,53844,62545,25845,58245,373
Total average portfolio loans and leases$117,334$118,858$121,630$123,327$122,812
Average Loans and Leases Held for Sale
Commercial loans and leases held for sale$74$72$17$19$56
Consumer loans held for sale291379619641747
Average loans and leases held for sale$365$451$636$660$803
End of Period Portfolio Loans and Leases
Commercial loans and leases:
  Commercial and industrial loans$52,209$53,270$55,790$56,897$57,720
  Commercial mortgage loans11,34611,27611,12211,31011,228
  Commercial construction loans5,7895,6215,5825,4755,548
  Commercial leases2,5722,5792,6242,6702,743
Total commercial loans and leases71,91672,74675,11876,35277,239
Consumer loans:
  Residential mortgage loans16,99517,02617,29317,50317,608
  Home equity3,8833,9163,8983,9113,958
  Indirect secured consumer loans15,30614,96515,43416,09716,484
  Credit card1,7371,8651,8171,8181,761
  Solar energy installation loans3,8713,7283,3832,9612,416
  Other consumer loans2,7772,9883,1453,2493,391
Total consumer loans44,56944,48844,97045,53945,618
Total portfolio loans and leases$116,485$117,234$120,088$121,891$122,857
End of Period Loans and Leases Held for Sale
Commercial loans and leases held for sale$32$44$81$32$24
Consumer loans held for sale307334533728725
Loans and leases held for sale$339$378$614$760$749
Operating lease equipment$427$459$480$537$578
Loans and Leases Serviced for Others(a)
Commercial and industrial loans$1,197$1,231$1,217$1,122$1,090
Commercial mortgage loans632655711748696
Commercial construction loans293283288260386
Commercial leases703703721642588
Residential mortgage loans99,596100,842101,889102,817103,399
Solar energy installation loans641658673691710
Other consumer loans139146154162171
Total loans and leases serviced for others103,201104,518105,653106,442107,040
Total loans and leases owned or serviced$220,452$222,589$226,835$229,630$231,224
(a)Fifth Third sells certain loans and leases and obtains servicing responsibilities.
22

Fifth Third Bancorp and Subsidiaries
Regulatory Capital
$ in millionsAs of
(unaudited)MarchDecemberSeptemberJuneMarch
2024(a)
2023202320232023
Regulatory Capital(b)
CET1 capital$16,932$16,800$16,510$16,100$15,727
Additional tier 1 capital2,1162,1162,1162,1162,116
Tier 1 capital19,04818,91618,62618,21617,843
Tier 2 capital3,2933,4843,4853,5653,588
Total regulatory capital$22,341$22,400$22,111$21,781$21,431
Risk-weighted assets
$162,141$163,223$168,433$169,720$169,510
Ratios
Average total Bancorp shareholders' equity as a percent of average assets
8.78 %8.04 %8.30 %8.90 %8.77 %
Regulatory Capital Ratios(b)
Fifth Third Bancorp
CET1 capital
10.44 %10.29 %9.80 %9.49 %9.28 %
Tier 1 risk-based capital
11.75 %11.59 %11.06 %10.73 %10.53 %
Total risk-based capital
13.78 %13.72 %13.13 %12.83 %12.64 %
Leverage8.94 %8.73 %8.85 %8.81 %8.67 %
Fifth Third Bank, National Association
Tier 1 risk-based capital
12.61 %12.42 %11.96 %11.25 %11.63 %
Total risk-based capital
13.95 %13.85 %13.38 %12.67 %13.05 %
Leverage9.61 %9.38 %9.59 %9.26 %9.62 %
(a)Current period regulatory capital data and ratios are estimated.
(b)Regulatory capital ratios are calculated pursuant to the five-year transition provision option to phase in the effects of CECL on regulatory capital after its adoption on January 1, 2020.
23

Fifth Third Bancorp and Subsidiaries
Summary of Credit Loss Experience
$ in millionsFor the Three Months Ended
(unaudited)MarchDecemberSeptemberJuneMarch
20242023202320232023
Average portfolio loans and leases:
  Commercial and industrial loans$53,183$54,633$57,001$58,137$58,149
  Commercial mortgage loans11,33911,33811,21611,37311,121
  Commercial construction loans5,7325,7275,5395,5355,507
  Commercial leases2,5422,5352,6162,7002,662
Total commercial loans and leases72,79674,23376,37277,74577,439
  Residential mortgage loans16,97717,12917,40017,51717,581
  Home equity3,9333,9053,8973,9374,005
  Indirect secured consumer loans15,17215,12915,78716,28116,598
  Credit card1,7731,8291,8081,7831,780
  Solar energy installation loans3,7943,6303,2452,7872,169
  Other consumer loans2,8893,0033,1213,2773,240
Total consumer loans44,53844,62545,25845,58245,373
Total average portfolio loans and leases$117,334$118,858$121,630$123,327$122,812
Losses charged-off:
  Commercial and industrial loans($40)($30)($70)($35)($32)
  Commercial mortgage loans—————
  Commercial construction loans————(1)
  Commercial leases—————
Total commercial loans and leases(40)(30)(70)(35)(33)
  Residential mortgage loans—(1)(1)(1)(1)
  Home equity(2)(2)(2)(2)(1)
  Indirect secured consumer loans(35)(35)(27)(25)(23)
  Credit card(23)(22)(19)(21)(20)
  Solar energy installation loans(14)(11)(8)(7)(3)
  Other consumer loans(32)(32)(31)(30)(29)
Total consumer loans(106)(103)(88)(86)(77)
Total losses charged-off($146)($133)($158)($121)($110)
Recoveries of losses previously charged-off:
  Commercial and industrial loans$5$2$5$3$2
  Commercial mortgage loans—3———
  Commercial construction loans—————
  Commercial leases——1——
Total commercial loans and leases55632
  Residential mortgage loans—1111
  Home equity22211
  Indirect secured consumer loans1110899
  Credit card54455
  Solar energy installation loans21———
  Other consumer loans1114131214
Total consumer loans3132282830
Total recoveries of losses previously charged-off$36$37$34$31$32
Net losses charged-off:
  Commercial and industrial loans($35)($28)($65)($32)($30)
  Commercial mortgage loans—3———
  Commercial construction loans————(1)
  Commercial leases——1——
Total commercial loans and leases(35)(25)(64)(32)(31)
  Residential mortgage loans—————
  Home equity———(1)—
  Indirect secured consumer loans(24)(25)(19)(16)(14)
  Credit card(18)(18)(15)(16)(15)
  Solar energy installation loans(12)(10)(8)(7)(3)
  Other consumer loans(21)(18)(18)(18)(15)
Total consumer loans(75)(71)(60)(58)(47)
Total net losses charged-off($110)($96)($124)($90)($78)
Net losses charged-off as a percent of average portfolio loans and leases (annualized):
  Commercial and industrial loans0.27 %0.20 %0.45 %0.22 %0.21 %
  Commercial mortgage loans— (0.10 %)— 0.01 %0.01 %
  Commercial construction loans— — — (0.01 %)0.10 %
  Commercial leases(0.04 %)0.01 %(0.08 %)(0.03 %)(0.04 %)
Total commercial loans and leases0.19 %0.13 %0.34 %0.16 %0.17 %
  Residential mortgage loans(0.01 %)(0.01 %)— — — 
  Home equity0.03 %0.05 %0.03 %0.06 %(0.04 %)
  Indirect secured consumer loans0.64 %0.64 %0.47 %0.38 %0.34 %
  Credit card4.19 %3.90 %3.25 %3.61 %3.43 %
  Solar energy installation loans1.31 %1.09 %0.91 %0.95 %0.45 %
  Other consumer loans2.71 %2.60 %2.46 %2.20 %2.05 %
Total consumer loans0.67 %0.64 %0.53 %0.50 %0.42 %
Total net losses charged-off as a percent of average portfolio loans and leases (annualized)0.38 %0.32 %0.41 %0.29 %0.26 %
24

Fifth Third Bancorp and Subsidiaries
Asset Quality
$ in millionsFor the Three Months Ended
(unaudited)MarchDecemberSeptemberJuneMarch
20242023202320232023
Allowance for Credit Losses
Allowance for loan and lease losses, beginning$2,322$2,340$2,327$2,215$2,194
  Total net losses charged-off(110)(96)(124)(90)(78)
Provision for loan and lease losses10678137202148
Impact of adoption of ASU 2022-02————(49)
Allowance for loan and lease losses, ending$2,318$2,322$2,340$2,327$2,215
Reserve for unfunded commitments, beginning$166$189$207$232$216
(Benefit from) provision for the reserve for unfunded commitments(12)(23)(18)(25)16
Reserve for unfunded commitments, ending$154$166$189$207$232
Components of allowance for credit losses:
  Allowance for loan and lease losses$2,318$2,322$2,340$2,327$2,215
  Reserve for unfunded commitments154166189207232
Total allowance for credit losses$2,472$2,488$2,529$2,534$2,447
As of
MarchDecemberSeptemberJuneMarch
20242023202320232023
Nonperforming Assets and Delinquent Loans
Nonaccrual portfolio loans and leases:
  Commercial and industrial loans$332$304$262$322$280
  Commercial mortgage loans3920182244
  Commercial construction loans11——5
  Commercial leases—1115
  Residential mortgage loans137124127137129
  Home equity6057586168
  Indirect secured consumer loans3236312327
  Credit card3234323029
  Solar energy installation loans656028251
  Other consumer loans10121385
Total nonaccrual portfolio loans and leases708649570629593
Repossessed property8101188
OREO2729312422
Total nonperforming portfolio loans and leases and OREO743688612661623
Nonaccrual loans held for sale5162—
Total nonperforming assets$748$689$618$663$623
Loans and leases 90 days past due (accrual):
  Commercial and industrial loans$9$8$3$6$17
  Commercial mortgage loans———20—
  Commercial leases2————
Total commercial loans and leases11832617
  Residential mortgage loans(c)
57679
  Home equity———11
  Credit card1921201718
  Other consumer loans————1
Total consumer loans2428262529
Total loans and leases 90 days past due (accrual)(b)
$35$36$29$51$46
Ratios
Net losses charged-off as a percent of average portfolio loans and leases (annualized)0.38 %0.32 %0.41 %0.29 %0.26 %
Allowance for credit losses:
As a percent of portfolio loans and leases2.12 %2.12 %2.11 %2.08 %1.99 %
   As a percent of nonperforming portfolio loans and leases(a)
349 %383 %443 %403 %413 %
   As a percent of nonperforming portfolio assets(a)
333 %362 %413 %383 %393 %
Nonperforming portfolio loans and leases as a percent of portfolio loans and leases(a)
0.61 %0.55 %0.47 %0.52 %0.48 %
Nonperforming portfolio assets as a percent of portfolio loans and leases and OREO(a)
0.64 %0.59 %0.51 %0.54 %0.51 %
Nonperforming assets as a percent of total loans and leases, OREO, and repossessed property0.64 %0.59 %0.51 %0.54 %0.50 %
(a) Excludes nonaccrual loans held for sale.
(b) Excludes loans held for sale.
(c) Excludes government guaranteed residential mortgage loans.


25


Use of Non-GAAP Financial Measures
In addition to GAAP measures, management considers various non-GAAP measures when evaluating the performance of the business, including: “net interest income (FTE),” “interest income (FTE),” “net interest margin (FTE),” “net interest rate spread (FTE),” “income before income taxes (FTE),” “tangible net income available to common shareholders,” “average tangible common equity,” “return on average tangible common equity,” “tangible common equity (excluding AOCI),” “tangible common equity (including AOCI),” “tangible equity,” “tangible book value per share,” “tangible book value per share (excluding AOCI),” “adjusted noninterest income,” “noninterest income excluding certain items,” “adjusted noninterest expense,” “noninterest expense excluding certain items,” “pre-provision net revenue,” “adjusted efficiency ratio,” “adjusted return on average common equity,” “adjusted return on average tangible common equity,” “adjusted return on average tangible common equity, excluding accumulated other comprehensive income", “adjusted pre-provision net revenue,” “adjusted return on average assets,” “efficiency ratio (FTE),” “total revenue (FTE),” “noninterest income as a percent of total revenue”, and certain ratios derived from these measures. The Bancorp believes these non-GAAP measures provide useful information to investors because these are among the measures used by the Fifth Third management team to evaluate operating performance and to make day-to-day operating decisions.

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

The Bancorp believes tangible net income available to common shareholders, average tangible common equity, tangible common equity (excluding AOCI), tangible common equity (including AOCI), tangible equity, tangible book value per share and return on average tangible common equity are important measures for evaluating the performance of the business without the impacts of intangible items, whether acquired or created internally, in a manner comparable to other companies in the industry who present similar measures.

The Bancorp believes noninterest income, noninterest expense, net interest income, net interest margin, pre-provision net revenue, efficiency ratio, noninterest income as a percent of total revenue, return on average common equity, return on average tangible common equity, and return on average assets are important measures that adjust for significant, unusual, or large transactions that may occur in a reporting period which management does not consider indicative of ongoing financial performance and enhances comparability of results with prior periods.

The Bancorp believes noninterest income excluding certain items and noninterest expense excluding certain items are important measures that adjust for certain components that are prone to significant period-to-period changes in order to facilitate the explanation of variances in the noninterest income and noninterest expense line items.

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

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

Please see reconciliations of all historical non-GAAP measures used in this release to the most directly comparable GAAP measures, beginning on the following page.
26

Fifth Third Bancorp and Subsidiaries
Non-GAAP Reconciliation
$ and shares in millionsAs of and For the Three Months Ended
(unaudited)MarchDecemberSeptemberJuneMarch
20242023202320232023
Net interest income$1,384$1,416$1,438$1,457$1,517
Add: Taxable equivalent adjustment67765
Net interest income (FTE) (a)1,3901,4231,4451,4631,522
Net interest income (annualized) (b)5,5665,6185,7055,8446,152
Net interest income (FTE) (annualized) (c)5,5915,6465,7335,8686,173
Interest income2,6082,6482,5292,3702,213
Add: Taxable equivalent adjustment67765
Interest income (FTE)2,6142,6552,5362,3762,218
Interest income (FTE) (annualized) (d)10,51310,53310,0619,5308,995
Interest expense (annualized) (e)4,9234,8884,3283,6622,823
Average interest-earning assets (f)195,349198,166192,216189,060187,407
Average interest-bearing liabilities (g)146,533146,507139,779134,590129,280
Net interest margin (b) / (f)2.85 %2.83 %2.97 %3.09 %3.28 %
Net interest margin (FTE) (c) / (f)2.86 %2.85 %2.98 %3.10 %3.29 %
Net interest rate spread (FTE) (d) / (f) - (e) / (g)2.02 %1.97 %2.13 %2.32 %2.62 %
Income before income taxes$658$650$846$775$718
Add: Taxable equivalent adjustment67765
Income before income taxes (FTE)664657853781723
Net income available to common shareholders480492623562535
Add: Intangible amortization, net of tax88889
Tangible net income available to common shareholders (h)488500631570544
Tangible net income available to common shareholders (annualized) (i)1,9631,9842,5032,2862,206
Average Bancorp shareholders’ equity
18,72717,20117,30518,34417,977
Less: Average preferred stock(2,116)(2,116)(2,116)(2,116)(2,116)
Average goodwill(4,918)(4,919)(4,919)(4,919)(4,915)
Average intangible assets(121)(130)(141)(152)(163)
Average tangible common equity, including AOCI (j)11,57210,03610,12911,15710,783
Less:Average AOCI4,9386,2445,8354,4804,442
Average tangible common equity, excluding AOCI (k)16,51016,28015,96415,63715,225
Total Bancorp shareholders’ equity
19,01819,17216,54417,80918,364
Less:Preferred stock(2,116)(2,116)(2,116)(2,116)(2,116)
Goodwill(4,918)(4,919)(4,919)(4,919)(4,915)
Intangible assets(115)(125)(136)(146)(157)
Tangible common equity, including AOCI (l)11,86912,0129,37310,62811,176
Less:AOCI4,8884,4876,8395,1664,245
Tangible common equity, excluding AOCI (m)16,75716,49916,21215,79415,421
Add:Preferred stock2,1162,1162,1162,1162,116
Tangible equity (n)18,87318,61518,32817,91017,537
Total assets214,506214,574212,967207,276208,657
Less:Goodwill(4,918)(4,919)(4,919)(4,919)(4,915)
Intangible assets(115)(125)(136)(146)(157)
Tangible assets, including AOCI (o)209,473209,530207,912202,211203,585
Less:AOCI, before tax6,1875,6808,6576,5395,373
Tangible assets, excluding AOCI (p)$215,660$215,210$216,569$208,750$208,958
Common shares outstanding (q)684681681681681
Tangible equity (n) / (p)8.75 %8.65 %8.46 %8.58 %8.39 %
Tangible common equity (excluding AOCI) (m) / (p)7.77 %7.67 %7.49 %7.57 %7.38 %
Tangible common equity (including AOCI) (l) / (o)5.67 %5.73 %4.51 %5.26 %5.49 %
Tangible book value per share (including AOCI) (l) / (q)$17.35$17.64$13.76$15.61$16.41
Tangible book value per share (excluding AOCI) (m) / (q)$24.50$24.23$23.81$23.19$22.64
27

Fifth Third Bancorp and Subsidiaries
Non-GAAP Reconciliation
$ in millionsFor the Three Months Ended
(unaudited)MarchDecemberMarch
202420232023
Net income (r)$520$530$558
Net income (annualized) (s)2,0912,1032,263
Adjustments (pre-tax items)
FDIC special assessment33224—
Valuation of Visa total return swap172231
Mastercard litigation5——
Fifth Third Foundation contribution—15—
Restructuring severance expense—512
Adjustments, after-tax (t)(a)
4220533
Adjustments (tax related items)
Tax benefit associated with resolution of certain acquisition related tax matters—(17)—
Adjustments (tax related items) (u)—(17)—
Noninterest income (v)710744696
Valuation of Visa total return swap172231
Adjusted noninterest income (w)727766727
Noninterest expense (x)1,3421,4551,331
FDIC special assessment(33)(224)—
Mastercard litigation(5)——
Fifth Third Foundation contribution—(15)—
Restructuring severance expense—(5)(12)
Adjusted noninterest expense (y)1,3041,2111,319
Adjusted net income (r) + (t) + (u)562718591
Adjusted net income (annualized) (z)2,2602,8492,397
Adjusted tangible net income available to common shareholders (h) + (t) + (u)530688577
Adjusted tangible net income available to common shareholders (annualized) (aa)2,1322,7302,340
Average assets (ab)$213,203$214,057$205,084
Return on average tangible common equity (i) / (j)17.0 %19.8 %20.5 %
Return on average tangible common equity excluding AOCI (i) / (k)11.9 %12.2 %14.5 %
Adjusted return on average tangible common equity, including AOCI (aa) / (j)18.4 %27.2 %21.7 %
Adjusted return on average tangible common equity, excluding AOCI (aa) / (k)12.9 %16.8 %15.4 %
Return on average assets (s) / (ab)0.98 %0.98 %1.10 %
Adjusted return on average assets (z) / (ab)1.06 %1.33 %1.17 %
Efficiency ratio (FTE) (x) / [(a) + (v)]63.9 %67.2 %60.0 %
Adjusted efficiency ratio (y) / [(a) + (w)]61.6 %55.3 %58.6 %
Total revenue (FTE) (a) + (v)$2,100$2,167$2,218
Adjusted total revenue (FTE) (a) + (w)$2,117$2,189$2,249
Pre-provision net revenue (PPNR) (a) + (v) - (x)$758$712$887
Adjusted pre-provision net revenue (PPNR) (a) + (w) - (y)$813$978$930
Totals may not foot due to rounding; (a) Assumes a 23% tax rate

28

Fifth Third Bancorp and Subsidiaries
Segment Presentation
$ in millions
(unaudited)
For the three months ended March 31, 2024(b)
Commercial BankingConsumer and Small Business Banking
Wealth
and Asset Management
General Corporate
and Other
Total
Net interest income (FTE)(a)
$690$1,125$59$(484)$1,390
(Provision for) benefit from credit losses(71)(84)—61(94)
Net interest income after (provision for) benefit from credit losses6191,04159(423)1,296
Noninterest income32626610216710
Noninterest expense(501)(639)(103)(99)(1,342)
Income (loss) before income taxes44466858(506)664
Applicable income tax (expense) benefit(a)
(75)(141)(12)84(144)
Net income (loss)$369$527$46$(422)$520
For the three months ended December 31, 2023
Commercial BankingConsumer and Small Business Banking
Wealth
and Asset Management
General Corporate
and Other
Total
Net interest income (FTE)(a)
$812$1,190$66$(645)$1,423
(Provision for) benefit from credit losses25(81)—1(55)
Net interest income after (provision for) benefit from credit losses8371,10966(644)1,368
Noninterest income3322849137744
Noninterest expense(488)(614)(90)(263)(1,455)
Income (loss) before income taxes68177967(870)657
Applicable income tax (expense) benefit(a)
(129)(164)(15)181(127)
Net income (loss)$552$615$52$(689)$530
For the three months ended September 30, 2023
Commercial BankingConsumer and Small Business Banking
Wealth
and Asset Management
General Corporate
and Other
Total
Net interest income (FTE)(a)
$1,012$1,390$98$(1,055)$1,445
Provision for credit losses—(105)(1)(13)(119)
Net interest income after provision for credit losses1,0121,28597(1,068)1,326
Noninterest income35327494(6)715
Noninterest expense(478)(624)(90)4(1,188)
Income (loss) before income taxes887935101(1,070)853
Applicable income tax (expense) benefit(a)
(169)(196)(22)194(193)
Net income (loss)$718$739$79$(876)$660
For the three months ended June 30, 2023
Commercial BankingConsumer and Small Business Banking
Wealth
and Asset Management
General Corporate
and Other
Total
Net interest income (FTE)(a)
$1,025$1,370$95$(1,027)$1,463
(Provision for) benefit from credit losses9(65)—(121)(177)
Net interest income after (provision for) benefit from credit losses1,0341,30595(1,148)1,286
Noninterest income3362719128726
Noninterest expense(486)(632)(93)(20)(1,231)
Income (loss) before income taxes88494493(1,140)781
Applicable income tax (expense) benefit(a)
(173)(198)(20)211(180)
Net income (loss)$711$746$73$(929)$601
For the three months ended March 31, 2023
Commercial BankingConsumer and Small Business Banking
Wealth
and Asset Management
General Corporate
and Other
Total
Net interest income (FTE)(a)
$980$1,257$101$(816)$1,522
Provision for credit losses(46)(51)—(67)(164)
Net interest income after provision for credit losses9341,206101(883)1,358
Noninterest income33627392(5)696
Noninterest expense(551)(645)(100)(35)(1,331)
Income (loss) before income taxes71983493(923)723
Applicable income tax (expense) benefit(a)
(139)(175)(19)168(165)
Net income (loss)$580$659$74$(755)$558
(a) Includes taxable equivalent adjustments of $6 million for the three months ended March 31, 2024, $7 million for the three months ended December 31, 2023 and September 30, 2023, $6 million for the three months ended June 30, 2023 and $5 million for the three months ended March 31, 2023.
(b) During the first quarter of 2024, the Bancorp eliminated certain revenue sharing agreements between Wealth and Asset Management and Consumer and Small Business Banking. Prior period results have been adjusted to reflect current presentation.
29
a1q24fitbpresentation
© Fifth Third Bancorp | All Rights Reserved Ó Fifth Third Bancorp | All Rights Reserved Fifth Third Bancorp 1Q24 Earnings Presentation April 19, 2024 Refer to earnings release dated April 19, 2024 for further information.

 
© Fifth Third Bancorp | All Rights Reserved This presentation contains statements that we believe are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Rule 175 promulgated thereunder, and Section 21E of the Securities Exchange Act of 1934, as amended, and Rule 3b-6 promulgated thereunder. All statements other than statements of historical fact are forward-looking statements. These statements relate to our financial condition, results of operations, plans, objectives, future performance, capital actions or business. They usually can be identified by the use of forward-looking language such as “will likely result,” “may,” “are expected to,” “is anticipated,” “potential,” “estimate,” “forecast,” “projected,” “intends to,” or may include other similar words or phrases such as “believes,” “plans,” “trend,” “objective,” “continue,” “remain,” or similar expressions, or future or conditional verbs such as “will,” “would,” “should,” “could,” “might,” “can,” or similar verbs. You should not place undue reliance on these statements, as they are subject to risks and uncertainties, including but not limited to the risk factors set forth in our most recent Annual Report on Form 10-K as updated by our filings with the U.S. Securities and Exchange Commission (“SEC”). There are a number of important factors that could cause future results to differ materially from historical performance and these forward-looking statements. Factors that might cause such a difference include, but are not limited to: (1) deteriorating credit quality; (2) loan concentration by location or industry of borrowers or collateral; (3) problems encountered by other financial institutions; (4) inadequate sources of funding or liquidity; (5) unfavorable actions of rating agencies; (6) inability to maintain or grow deposits; (7) limitations on the ability to receive dividends from subsidiaries; (8) cyber-security risks; (9) Fifth Third’s ability to secure confidential information and deliver products and services through the use of computer systems and telecommunications networks; (10) failures by third-party service providers; (11) inability to manage strategic initiatives and/or organizational changes; (12) inability to implement technology system enhancements; (13) failure of internal controls and other risk management programs; (14) losses related to fraud, theft, misappropriation or violence; (15) inability to attract and retain skilled personnel; (16) adverse impacts of government regulation; (17) governmental or regulatory changes or other actions; (18) failures to meet applicable capital requirements; (19) regulatory objections to Fifth Third’s capital plan; (20) regulation of Fifth Third’s derivatives activities; (21) deposit insurance premiums; (22) assessments for the orderly liquidation fund; (23) weakness in the national or local economies; (24) global political and economic uncertainty or negative actions; (25) changes in interest rates and the effects of inflation; (26) changes and trends in capital markets; (27) fluctuation of Fifth Third’s stock price; (28) volatility in mortgage banking revenue; (29) litigation, investigations, and enforcement proceedings by governmental authorities; (30) breaches of contractual covenants, representations and warranties; (31) competition and changes in the financial services industry; (32) potential impacts of the adoption of real-time payment networks; (33) changing retail distribution strategies, customer preferences and behavior; (34) difficulties in identifying, acquiring or integrating suitable strategic partnerships, investments or acquisitions; (35) potential dilution from future acquisitions; (36) loss of income and/or difficulties encountered in the sale and separation of businesses, investments or other assets; (37) results of investments or acquired entities; (38) changes in accounting standards or interpretation or declines in the value of Fifth Third’s goodwill or other intangible assets; (39) inaccuracies or other failures from the use of models; (40) effects of critical accounting policies and judgments or the use of inaccurate estimates; (41) weather-related events, other natural disasters, or health emergencies (including pandemics); (42) the impact of reputational risk created by these or other developments on such matters as business generation and retention, funding and liquidity; (43) changes in law or requirements imposed by Fifth Third’s regulators impacting our capital actions, including dividend payments and stock repurchases; and (44) Fifth Third's ability to meet its environmental and/or social targets, goals and commitments. You should refer to our periodic and current reports filed with the Securities and Exchange Commission, or “SEC,” for further information on other factors, which could cause actual results to be significantly different from those expressed or implied by these forward-looking statements. Moreover, you should treat these statements as speaking only as of the date they are made and based only on information then actually known to us. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any changes in events, conditions or circumstances on which any such statement is based, except as may be required by law, and we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. The information contained herein is intended to be reviewed in its totality, and any stipulations, conditions or provisos that apply to a given piece of information in one part of this press release should be read as applying mutatis mutandis to every other instance of such information appearing herein. Copies of those filings are available at no cost on the SEC’s website at www.sec.gov or on our website at www.53.com. Annualized, pro forma, projected and estimated numbers are used for illustrative purpose only, are not forecasts and may not reflect actual results. In this presentation, we may sometimes provide non-GAAP financial information. Please note that although non-GAAP financial measures provide useful insight to analysts, investors and regulators, they should not be considered in isolation or relied upon as a substitute for analysis using GAAP measures. We provide a discussion of non-GAAP measures and reconciliations to the most directly comparable GAAP measures in later slides in this presentation, as well as on pages 26 through 28 of our 1Q24 earnings release. Management does not provide a reconciliation for forward-looking non-GAAP financial measures where it is unable to provide a meaningful or accurate calculation or estimation of reconciling items and the information is not available without unreasonable effort. This is due to the inherent difficulty of forecasting the occurrence and the financial impact of various items that have not yet occurred, are out of the Bancorp's control or cannot be reasonably predicted. For the same reasons, Bancorp's management is unable to address the probable significance of the unavailable information. Forward-looking non-GAAP financial measures provided without the most directly comparable GAAP financial measures may vary materially from the corresponding GAAP financial measures. Cautionary statement 2

 
© Fifth Third Bancorp | All Rights Reserved Reported1 Adjusted1 EPS $0.70 $0.76 ROA 0.98% 1.06% ROE 11.6% 12.6% ROTCE 17.0% 18.4% NIM 2.86% 2.86% Efficiency ratio 63.9% 61.6% PPNR $758MM $813MM CET12 10.44% For end note descriptions, see end note summary starting on page 43 1Q24 highlights 3 • Average deposits increased 5% compared to 1Q23 • Net charge-offs, NPAs, and delinquencies remain below historical levels; zero CRE net charge-offs during the quarter • Strong fee performance driven by 10% growth in wealth and asset management revenue and 11% in treasury management fees compared to 1Q23 • Interest-bearing deposit costs were well-managed; increased only 1 bp compared to 4Q23 • Disciplined expense management; adjusted expenses1 decreased 1% compared to 1Q23 • Generated consumer household growth of 3% compared to 1Q23

 
© Fifth Third Bancorp | All Rights Reserved $1,522 $1,423 $1,390 3.29% 2.85% 2.86% 1Q23 4Q23 1Q24 NII $ in millions; NIM change in bps 4Q23 to 1Q24 Reported NII & NIM Walk T o ta l n et i n te re st i n co m e; $ m il li o n s NII NIM For end note descriptions, see end note summary starting on page 43 NII $1,4234Q23 2.85% NIM $1,390 2.86%1Q24 Securities portfolio Loan balances / mix 1 1 (8) 1 3 1Net market rate impact Deposit/wholesale funding balances / mix (20) (4) Net interest income1 Day Count 12 4 Other, net 1(11)

 
© Fifth Third Bancorp | All Rights Reserved Noninterest income $696 $744 $710$723 $751 $717 Noninterest income Adjusted noninterest income (excl. securities gains/losses,net)¹ 1Q23 4Q23 1Q24 • Adjusted noninterest income1 down $6 million, or 1% • Primary drivers: ‒ Commercial banking revenue (down 11%) reflecting decreases in client financial risk management revenue and M&A advisory revenue ‒ Leasing business revenue (down 32%) reflecting lower operating lease revenue and lease remarketing revenue ‒ Partially offset by wealth and asset management revenue (up 10%) reflecting increases in personal asset management revenue and brokerage fees and service charges on deposits (up 10%) reflecting an increase in commercial treasury management fees • Adjusted noninterest income1 down $34 million, or 5% • Primary drivers: ‒ Commercial banking revenue (down 12%) reflecting decreases in institutional brokerage and client financial risk management revenue ‒ Mortgage banking net revenue (down 18%) reflecting decreases in MSR net valuation adjustments and origination fees and gains on loan sales ‒ Partially offset by wealth and asset management revenue (up 10%) primarily reflecting seasonally strong tax-related private client service revenue and personal asset management revenue 1Q24 vs. 1Q23 1Q24 vs. 4Q23 For end note descriptions, see end note summary starting on page 43 T o ta l n o n in te re st i n co m e; $ m il li o n s Securities losses/(gains), net ($ in millions) 1Q23 4Q23 1Q24 Net loss/(gains) attributable to legacy venture equity investments $7 $— ($1) Net losses/(gains) attributable to non-qualified deferred compensation plans (NQDC), primarily offset in expenses (10) (13) (11) Other losses/(gains), net (1) (2) 2 Securities losses/(gains), net ($4) ($15) ($10) 5

 
© Fifth Third Bancorp | All Rights Reserved $1,331 $1,455 $1,342$1,319 $1,211 $1,304 Noninterest expense Adjusted noninterest expense¹ 1Q23 4Q23 1Q24 • Adjusted noninterest expense1 up $93 million, or 8% • Primary drivers: ‒ Compensation and benefits (up 14%), reflecting a seasonal increase ‒ Net occupancy expense (up 5%) ‒ Marketing expense (up 7%) ‒ Partially offset by leasing business expense (down 7%) T o ta l n o n in te re st e x p en se ; $ m il li o n s • Adjusted noninterest expense1 down $15 million, or 1% • Primary drivers: ‒ Leasing business expense (down 26%) ‒ Other noninterest expense (down 8%) ‒ Partially offset by net occupancy expense (up 7%) 1Q24 vs. 1Q23 1Q24 vs. 4Q23 For end note descriptions, see end note summary starting on page 43 Noninterest expense 6 ($ in millions) 1Q23 4Q23 1Q24 Non-qualified deferred compensation expense/ (benefit), primarily offset in securities gains/losses $12 $17 $15

 
© Fifth Third Bancorp | All Rights Reserved $122.9 $117.2 $116.5 $77.2 $72.7 $71.9 $45.6 $44.5 $44.6 1Q23 4Q23 1Q24 $0.7 $0.3 $0.3 $0.7 $0.4 $0.3 1Q23 4Q23 1Q24 QoQ YoY (8%) (58%) (27%) +33% QoQ YoY — (2%) (1%) (7%) Interest earning assets Commercial Average securities1 and short-term investmentsAverage loan & lease balances $ in billions; loan & lease balances excluding HFS Consumer Period-end loan & lease balances Period-end HFS loan & lease balances Commercial Consumer $ in billions For end note descriptions, see end note summary starting on page 43; totals shown above may not foot due to rounding % change % change % change % change $ in billions; loan & lease balances excluding HFS $ in billions 7 $0.0 $0.0$0.0 QoQ YoY — (2%) (2%) (6%) QoQ YoY (1%) +302% (2%) (4%) $122.8 $118.9 $117.3 $77.4 $74.2 $72.8 $45.4 $44.6 $44.5 5.63% 6.30% 6.36% Commercial Consumer Total Loan Yield 1Q23 4Q23 1Q24 $63.8 $78.9 $77.7 $58.5 $57.4 $56.5 $5.3 $21.5 $21.2 3.06% 3.13% 3.26% Securities Short-term investments Taxable securities yield 1Q23 4Q23 1Q24

 
© Fifth Third Bancorp | All Rights Reserved $23.7 $26.1 $24.8 4.49% 5.39% 5.55% 1Q23 4Q23 1Q24 $157.4 $163.7 $164.4 $163.0 $168.9 $169.6 1Q23 4Q23 1Q24 $26.0 $24.6 $23.8 1Q23 4Q23 1Q24 Deposits and wholesale funding Average wholesale funding balancesAverage deposit balances Core depositsCDs > $250K Total interest bearing deposit costs $ in billions Total wholesale funding Wholesale funding cost Period-end deposit balances Period-end wholesale funding balances $ in billions Note: totals shown above may not foot due to rounding % change % change % change % change $ in billions $ in billions 8Total wholesale funding QoQ YoY (2%) +1% +2% (12%) QoQ YoY (5%) +4% QoQ YoY (4%) (9%) $5.5$5.7 $4.3 $5.2$5.2$5.6 Core depositsCDs > $250K QoQ YoY — (7%) — +4% $160.6 $169.4 $168.1 $156.3 $163.8 $162.6 1.76% 3.00% 3.01% 1Q23 4Q23 1Q24 QoQ YoY (2%) +27% (1%) +4%

 
© Fifth Third Bancorp | All Rights Reserved • 86% FDIC insured1 • Debit transactions up 4% YoY • >80% of balances from clients with 5+ year tenure • Average age of household: ~13 years • 1.4 million Momentum Households (~56% of total) 69% 31% FITB Peer median H8 1Q23 2Q23 3Q23 4Q23 1Q24 High-quality deposit franchise 6 point outperformance vs. large commercial banks Average total deposits indexed to 100; H8, non-seasonally adjusted total deposits Commercial and consumer deposit franchise highlights Continued investment in the southeast3 For end note descriptions, see end note summary starting on page 43; totals shown above may not foot due to rounding 9 3Q18 2028E Midwest Southeast Commercial franchiseConsumer franchise Fifth Third continues to outpace the industry in deposit share growth2 +5% (1%) +1% #2 #6 Midwest Southeast unchanged YoY improved 2 spots YoY • Gained or maintained market share rank in all 40 of our largest MSAs • Approaching target locational share in 8 key SE MSAs of focus Significant locational share improvement since 2018 in key SE MSAs Deposit share rankings Naples, FL 2018 2023 Nashville, TN Fort Myers, FL Charlotte, NC Raleigh-Durham, NC #2 #6 #4 #5 #15 #1 #3 #2 #4 #7 1Q24 ~45% ~55% ~20% ~80% Branch network mix 4 • 25% FDIC insured1 • 95% of balances represented by relationships that utilized Treasury Management services (including 82% of uninsured) • Balanced-weighted relationship age of ~24 years • Median relationship deposit balance of ~$370K

 
© Fifth Third Bancorp | All Rights Reserved Net charge-offs (NCOs) $78 $90 $124 $96 $110 1Q23 2Q23 3Q23 4Q23 1Q24 For end note descriptions, see end note summary starting on page 43 Credit quality overview 10 Key metrics 1Q23 2Q23 3Q23 4Q23 1Q24 NPL ratio 0.48% 0.52% 0.47% 0.55% 0.61% NPA ratio1 0.51% 0.54% 0.51% 0.59% 0.64% 30-89 days past due as a % of portfolio loans and leases 0.26% 0.28% 0.26% 0.31% 0.29% NCO ratio 0.26% 0.29% 0.41% 0.32% 0.38% ACL ratio as a % of portfolio loans and leases 1.99% 2.08% 2.11% 2.12% 2.12% Nonperforming loans (NPLs) $593 $629 $570 $649 $708 1Q23 2Q23 3Q23 4Q23 1Q24 Portfolio loans & leases 30-89 days past due $317 $339 $316 $359 $342 1Q23 2Q23 3Q23 4Q23 1Q24

 
© Fifth Third Bancorp | All Rights Reserved • Drivers of $16MM decrease in ACL: ‒ Primarily due to a decline in loan balances and modest improvement in Moody's macroeconomic forecast Allowance for loan & lease losses Commercial and industrial loans Commercial mortgage loans Commercial construction loans Commercial leases Total commercial loans and leases Residential mortgage loans Home equity Indirect secured consumer loans Credit card Other consumer loans Total consumer loans Allowance for loan & lease losses Reserve for unfunded commitments1 Allowance for credit losses Allocation of allowance by product $ in millions 1Q24 Amount % of portfolio loans & leases For end note descriptions, see end note summary starting on page 43; totals shown above may not foot due to rounding Change in rate Compared to: 4Q23 1Q23 Allowance for credit losses 11 2,318 154 $2,472 1.99% 2.12% 0.01% — 0.19% 0.13% $756 306 64 15 141 102 139 278 208 1,177 $1,141 1.44% 2.70% 1.11% 0.58% 0.83% 2.63% 5.04% 1.81% 11.95% 2.65% 1.59% — 0.18% (0.06%) 0.08% (0.02%) 0.03% (0.19%) — (0.22%) (0.03%) 0.04% 0.03% 0.52% (0.13%) (0.08%) (0.22%) (0.50%) 0.50% 0.52% (1.45%) 0.30% 0.11% Solar energy installation loans 309 7.99% 0.17% 1.32% • Drivers of $16MM decrease in ACL: • Primarily due to a decline in loan balances and modest improvement in Moody's macroeconomic forecast

 
© Fifth Third Bancorp | All Rights Reserved 10.29% ~30 bps ~7 bps (~15 bps) (~8 bps) ~1 bp 10.44% 4Q23 Net income to common RWA Common dividends Modified CECL transition Other 1Q24 $(4.4) $(2.4) 03/31/23 12/31/2024E 12 Strong liquidity and capital position Liquidity position $ in billions Fed Reserves Unpledged Investment Securities Available FHLB Borrowing Capacity Current Fed Discount Window Availability Total ~$22 ~$20 ~$11 ~$54 ~$107 12/31/23 Available BTFP Capacity - Capital position Common equity tier 1 ratio1 ~$22 ~$26 ~$12 ~$39 ~$108 ~$9 Liquidity Sources 3/31/24 For end note descriptions, see end note summary starting on page 43; totals shown above may not foot due to rounding • Maintained full Category 1 LCR compliance during the quarter • Loan-to-core deposit ratio of 71% • For several years, we have performed: ‒ Daily LCR calculations ‒ Monthly liquidity stress tests, including two FITB-specific scenarios over and above regulatory requirements ‒ Monthly 2052a complex liquidity monitoring reporting

 
Classification: Internal Use © Fifth Third Bancorp | All Rights Reserved ($4.2) ($3.8) ($3.3) ($2.8) ($2.3) ($1.8) $0.4 $0.9 $1.4 $1.9 $2.4 03/31/24 12/31/24E 12/31/25E 12/31/26E 12/31/27E 12/31/28E ($4.2) ($3.7) ($3.1) ($2.6) ($2.1) ($1.6) $0.5 $1.1 $1.6 $2.1 $2.6 03/31/24 12/31/24E 12/31/25E 12/31/26E 12/31/27E 12/31/28E Securities portfolio AOCI accretion 13 Projected AOCI accretion1 $ in billions; 3/31 AFS and HTM portfolio unrealized loss, after-tax For end note descriptions, see end note summary starting on page 43; totals shown above may not foot due to rounding ~62% capital accretion ~26% capital accretion Assuming implied forward curve2 Assuming static rates ~57% capital accretion ~21% capital accretion Transferred 23% of AFS securities portfolio to HTM on January 3, 2024 to mitigate AOCI volatility Securities selected for HTM meet Reg YY eligibility and inclusion requirements

 
© Fifth Third Bancorp | All Rights Reserved down 2 – 4% Noninterest expense1 up ~1% (FY23 baseline: $4.937BN) Net charge-off ratio 35 – 45 bps Effective tax rate 22 - 23% For end note descriptions, see end note summary starting on page 43 As of April 19, 2024; please see cautionary statements on page 2 Total revenue1 down 1 – 2% (FY23 baseline: $8.826BN; Includes securities g/l) (including HFS) Avg. loans & leases down ~2% Current expectations FY 2024 compared to FY 2023 14 Allowance for credit losses expect $75 - $100MM build due to loan growth (primarily Dividend Finance) and assumes no change to macroeconomic outlook and risk profile as of 1Q24 Net interest income1 Noninterest income1 up 1 – 2% (FY23 baseline: $5.852BN) (FY23 baseline: $2.956BN)

 
© Fifth Third Bancorp | All Rights Reserved stable to up 1% Noninterest expense1 down ~6% (1Q24 baseline: $1.304BN) Net charge-off ratio 35 – 45 bps Effective tax rate 22 - 23% For end note descriptions, see end note summary starting on page 43 As of April 19, 2024; please see cautionary statements on page 2 Total revenue1 up ~1% (1Q24 baseline: $2.117BN; Includes securities g/l) (including HFS) Avg. loans & leases stable Current expectations 2Q24 compared to 1Q24 15 Allowance for credit losses expect $0 - $25MM build due to loan mix (primarily Dividend Finance) and assumes no change to macroeconomic outlook and risk profile as of 1Q24 Net interest income1 Noninterest income1 up 2 – 4% (1Q24 baseline: $1.390BN) (1Q24 baseline: $717MM)

 
© Fifth Third Bancorp | All Rights Reserved Appendix 16

 
© Fifth Third Bancorp | All Rights Reserved 17 Our purpose, vision, and core values support our commitment to generating sustainable value for stakeholders Our Vision Be the One Bank people most value and trust Our Core Values Our Purpose To improve the lives of our customers and the well-being of our communities Work as One Bank Take Accountability Be Respectful Act with Integrity Living our purpose guided by our vision and values

 
© Fifth Third Bancorp | All Rights Reserved $3.7BN in lending, investments, financial accessibility and philanthropy towards $2.8BN AREEI initiative 4 44% board diversity 5 57% women; 29% persons of color in workforce Minorities are paid at parity to non-minorities, women are paid 99% of what men are paid >$122MM Tier 1 diverse supplier spend, 11.2% of net addressable spend 6 >1.1K members in employee Sustainability Business Resource Group 7 18 Addressing climate change Promoting inclusion and diversity Demonstrating our commitment to employees Strengthening our communities Keeping the customer at the center >$199MM in lending, investments, and philanthropy towards Empowering Black Futures Neighborhood Investment Program 10 $1.2BN provided in community development lending and investment >$35MM in total charitable giving >110K hours of community service 6 "Outstanding" rating on most recent Community Reinvestment Act performance examination from the Office of the Comptroller of Currency >$37BN in sustainable financing towards $100BN goal 1 54% reduction in Scope 1 and 2 GHG emissions since 2014 Operating on net 100% renewable energy since 2019 Offsetting carbon emissions in our operations since 2020 2 $500MM inaugural Green Bond issued in October 2021 3 Fifth Third is committed to supporting customers, communities and employees For end note descriptions, see end note summary starting on page 43 Sustainability priorities and metrics 3.5MM customer outreach calls in 1Q24, continuing our heightened connection to the customer 8 3% YoY consumer household growth 9 Low reliance on punitive consumer fees, with $35MM in NSF fees eliminated and >$59MM in overdraft fees avoided with Extra Time® >$27BN deposited up to 2 days early with Early Pay® $38MM in consumer cash back rewards with 5/3 Cash Back cards Decrease in overall turnover from 16.9% in 4Q23 to 16.2% in 1Q24 Increased company HSA contribution in 2024 by 20%, helping employees offset rising medical inflation Up to 7% 401(k) employer contribution with increased participation of 81.2% in 2023, up from 80.3% in 2022 Employees invested ~780K hours of training in 2023 (40 hours average / FTE)

 
© Fifth Third Bancorp | All Rights Reserved 19 Actions Demonstrating Leadership Third-party recognitions Executive compensation tied to sustainability priorities Sustainability & Stewardship Assessment modifier in 2023 Variable Compensation Plan Office of sustainability Leading enterprise sustainability strategy, business integration, and reporting including Bank’s climate strategy and sustainable finance 10-year $100BN Environmental & Social Finance Target Expansion of the original $8BN renewable energy goal achieved in June 2022 2022 Sustainability report Aligned with industry standards and frameworks, including SASB and GRI, available on ir.53.com Dividend Finance A leading fintech point-of-sale (POS) lender, providing financing solutions for residential renewable energy and sustainability-focused home improvement $250,000 donation for disaster relief To Red Cross, United Way through Fifth Third Foundation in addition to other assistance programs Operational sustainability goals Announced six new operational sustainability targets to be achieved by 2030, including Scope 1 and 2 GHG emissions reduction of 75% SSGA R-Factor Score April 2024 Leader Top 10% among Commercial Banks S&P Global ESG Score MSCI ESG Rating August 2023 A Third consecutive year CSRHub ESG Ranking April 2024 93rd percentile Top quartile among peers1 ESG Risk Rating2 January 2023 Low Risk Top quartile among peers1 Refinitiv ESG Combined Score June 2023 47/100 Top quartile among peers1 A recognized leader in sustainability among peers For end note descriptions, see end note summary starting on page 43 Corporate Sustainability Assessment "OUTSTANDING" Received highest overall rating possible on most recent Community Reinvestment Act performance examination from the Office of the Comptroller of Currency, including each of the three tests: Lending, Investment, Service. 51 / 100 Top quartile among peers1

 
© Fifth Third Bancorp | All Rights Reserved $0 $2,500 $750 $1,850 $2,050 $4,912 Fifth Third Bancorp Fifth Third Bank Fifth Third Financial Corp 2024 2025 2026 2027 2028 2029 on 54%39% 7% Consumer and Small Business Banking Commercial Banking Wealth & Asset Management 20 Unsecured debt maturities Composition of deposits by segment Holding company: • Holding Company cash as of March 31, 2024: $4.9BN • Cash on hand at Holding Company currently sufficient to satisfy all fixed obligations for ~37 months (debt maturities, common and preferred dividends, interest, and other expenses) • The Holding Company issued $1BN 8NC7 fixed-to-floating rate debt in 1Q24 • $2.25BN of Holding Company debt matured in 1Q24 Bank entity: • The Bank did not issue or have long-term debt maturities in 1Q24 • Available and contingent borrowing capacity (1Q24): ‒ FHLB ~$10.9BN available, ~$16.8BN total ‒ Federal Reserve Discount Window ~$54.4BN ‒ During 1Q24, collateral pre-positioned at the BTFP was transitioned to the Discount Window in anticipation of the BTFP's sunset Period-end as of 3/31/24 Strong liquidity profile $ millions – excl. Retail Brokered & Institutional CDs

 
© Fifth Third Bancorp | All Rights Reserved 72% 16% 8% 4% • 60% allocation to bullet/ locked- out cash flow securities • AFS & HTM spot yield: 3.16% 4 • AFS net unrealized pre-tax loss: $4.6BN $19.6BN fixed | $52.4BN variable 1,2 Commercial loans1,2 Balance sheet positioning 100% Fix | —% Variable 86% Fix | 14%Variable Investment portfolioConsumer loans1 Long-term debt 3 $38.4BN fixed | $6.1BN variable 1 $9.4BN fixed | $6BN variable 3 • 1M based: 50% 5,8 • 3M based: 6% 5,8 • Prime & O/N based: 16% 5,8 • Other based: 1% 5,7,8 • Weighted avg. life: 1.74 years 1 • 1M based: 1% 6,8 • Prime: 11% 6 • Other based: 1% 6,8,9 • Weighted avg. life: 4.01 years1 • SOFR based: 39% • Weighted avg. life: 4.2 years C&I 28% Fix | 72% Variable Coml. mortgage 21% Fix | 79% Variable Coml. lease 100% Fix | 0% Variable Resi mtg.& construction 96% Fix | 4% Variable Home equity 10% Fix | 90% Variable Senior debt 50% Fix | 50% Variable Sub debt 59% Fix | 41% Variable Auto securiz. proceeds 82% Fix | 18% Variable Coml. construction 3% Fix | 97% Variable Credit card 40% Fix | 60% Variable Other 86% Fix | 14% Variable Other 98% Fix | 2% Variable Level 1 81% Fix | 19% Variable Level 2A Non-HQLA/ Other Includes $4.8BN non-agency CMBS (All super-senior, AAA-rated securities; 59% WA LTV, ~39% WA credit enhancement) Auto/Indirect 100% Fix | 0% Variable For end note descriptions, see end note summary starting on page 43; totals shown above may not foot due to rounding 21 34% 38% 9% 15% 4% 26% 55% 19% 65%12% 8% 15% The information above incorporates the impact of $8BN in C&I receive-fixed swaps and ~$6BN fair value hedges associated with long-term debt (receive-fixed swaps)

 
© Fifth Third Bancorp | All Rights Reserved 22 Investment portfolio composition Investment portfolio characteristics Held-to-maturity portfolio • $11.5BN portfolio • Reclassification during 1Q24 aimed to de-risk potential AOCI volatility to capital under proposed capital rules • Securities selected for HTM meet Reg YY eligibility and inclusion requirements Available-for-sale portfolio • $43.4BN portfolio • $5BN Non-agency CMBS portfolio ‒ All positions are super-senior AAA rated with WA credit enhancement of 39% ‒ Securities are 20% risk-weighted and are pledgeable to the FHLB ‒ Underlying loans in our structures have a WA LTV of ~60% ‒ Credit risk team analyzes transactions at the underlying property-level, similar to what we do for all our CRE loan commitments HTM 21% AFS 79% AFS and HTM portfolio; amortized cost basis; as of 3/31/24 Amortized cost basis; as of 3/31/24 Securities mix Effective durationAgency CMBS Agency RMBS Non-agency CMBS Treasuries Other HTM 35% 45% — 20% — 5.8 AFS 56% 13% 11% 6% 13% 4.2 Total 52% 20% 9% 9% 10% 4.6 Reclassified $12.6BN of securities to held-to- maturity on 1/3/24 Securities portfolio Securities portfolio $55BN ~28% of interest earning assets ‒ Leverage analytical tools with over 40+ years of historical data to stress the securities at an individual property level on a recurring bases, including significant market distress in real estate valuations

 
© Fifth Third Bancorp | All Rights Reserved As of 3/31/24 Non-owner occupied CRE represents <10% of total loans 23 Office CRE portfolio stats $ billions $ balance % of total loans LTM NCO % NPLs / loans Multifamily $3.5 3.0% 0.00% 0.00% Hospitality 1.4 1.2 0.00 0.00 Office 1.3 1.1 0.00 0.17 Industrial 1.2 1.0 0.00 0.00 Retail 1.2 1.0 0.00 0.01 Medical Office 0.7 0.6 0.00 0.00 Other 1.5 1.3 (0.17) 0.03 Total non-owner occupied CRE $10.9 9.3% (0.02%) 0.03% Limited non-owner occupied exposure with very strong credit quality vs. PQ Average loan commitment $11.0 million 5% NCOs / average loans (LTM) 0.00% — Delinquencies / loans 0.21% 0.21% NPL / loans 0.17% (0.01%) Criticized loans / loans 7.4% 1.3% As of 1Q24; Non-owner occupied Total Bancorp loans $117BN • Office CRE of $1.3BN represents 1.1% of total loans • LTV range of 55 – 60% at origination; focus on disciplined regional and national clients with longstanding relationships • Average commit of $11.0MM; conservative underwriting limiting amount of credit extended • Currently not pursuing new Office CRE originations Additional non-owner occupied office CRE metrics Totals shown above may not foot due to rounding

 
© Fifth Third Bancorp | All Rights Reserved • Reduced balances 6% compared to 1Q23 • Industry concentration is well diversified $32.4 $2.4 $2.0 Shared National Credits portfolio Leveraged lending portfolio Both SNC & leveraged lending 24 Continued strong credit quality within portfolios of interest For end note descriptions, see end note summary starting on page 43 • Reduced balances 10% compared to 1Q23 • Represents ~2% of total loans in 1Q24 vs. ~8% in 2015 High quality Shared National Credit portfolio with limited exposure to leveraged lending1 $ in billions; as of 3/31/24 As a % of total loans 28% 2% <2% • Reduced balances 14% compared to 1Q23 • ~40% of SNC balances are investment grade equivalent borrowers; independently underwrite each transaction • Lead left / lead right on ~50% of relationships • Crits, NPA, and NCO rates are consistent with the rest of commercial portfolio over a multi-year period

 
© Fifth Third Bancorp | All Rights Reserved Managing rate risk against conservative outcomes Estimated NII sensitivity profile and ALCO policy limits Estimated NII beta sensitivity Rate Risk models assume approximately 75-80% effective up betas and 65-70% down betas in our baseline NII sensitivity used in IRR simulations1,2,3 •Models are calibrated to performance in prior rate cycles •Additionally, rate risk measures assume no deposit re-pricing lags and $350MM of DDA runoff per 100 bps of rate hikes As of March 31, 2024: •50% of HFI loans were variable rate net of existing hedges (73% of total commercial; 14% of total consumer) •Short-term borrowings represent only 2% of total funding •Approximately $12.5BN in non-core funding matures beyond one year 25 % Change NII (FTE) ALCO policy limit Change in interest rates (bps) 12 months 13 to 24 months 12 months 13 to 24 months +200 Ramp over 12 months (2.8%) (4.6%) (5.0%) (6.0%) +100 Ramp over 12 months (1.4%) (2.2%) NA NA -100 Ramp over 12 months 0.2% 0.1% NA NA -200 Ramp over 12 months 0.3% (0.3%) (5.0%) (6.0%) 5% Higher Beta 5% Lower Beta Change in interest rates (bps) 12 months 13 to 24 months 12 months 13 to 24 months +200 Ramp over 12 months (3.2%) (5.4%) (1.8%) (2.9%) +100 Ramp over 12 months (1.6%) (2.6%) (0.9%) (1.4%) -100 Ramp over 12 months 0.3% 0.3% (0.1%) (0.5%) -200 Ramp over 12 months 0.5% 0.2% (0.4%) (1.6%) Estimated NII sensitivity with demand deposit balance changes % Change in NII (FTE) $1BN balance decline $1BN balance increase Change in interest rates (bps) 12 months 13 to 24 months 12 months 13 to 24 months +200 Ramp over 12 months (3.8%) (5.8%) (1.7%) (3.5%) +100 Ramp over 12 months (2.4%) (3.2%) (0.4%) (1.2%) -100 Ramp over 12 months (0.6%) (0.6%) 1.0% 0.8% -200 Ramp over 12 months (0.4%) (0.9%) 1.0% 0.2% For end note descriptions, see end note summary starting on page 43

 
© Fifth Third Bancorp | All Rights Reserved Classification: Internal Use 64% 15% 21% • Includes accounts expected to reprice with market rates and time deposits ‒ ~80% of total CDs $250K or less will mature by 9/30/24 • Beta in falling rate environment: 80 – 100% • Accounts with an intermediate rate • Beta in falling rate environment: 35 – 45% 26 Interest-bearing deposit mix Stable deposit portfolio well positioned for lower rates Low beta / low cost1 Mid-beta / mid-cost2 Market priced & time deposits3 Interest-bearing deposit mix As of 3/31/24 $128 billion Including: • ~$36B of indexed deposits • $9.1B of CDs $250K or less • $5.2B of CDs $250K+ • Mostly low-rate and stable consumer & relationship-based deposits • Beta in falling rate environment: ~0% For end note descriptions, see end note summary starting on page 43

 
© Fifth Third Bancorp | All Rights Reserved $8 $7 $6 $6 $5 4 $1 $2 $5 $10 $10 $10 $9 $8 $5 $3 $3 $3 $11 $11 $11 $11 $15 $14 1Q24 2Q24 3Q24 4Q24 1Q25 1Q30 4Q30 2Q31 3Q31 4Q31 Cash flow hedges ($3BN @ 2.25% 1- month LIBOR strike)2 Floors and receive-fixed swaps1 EOP notional value of cash flow hedges ($ in billions) Actual For end note descriptions, see end note summary starting on page 42 27 Floors Forward starting receive-fixed swaps3 Existing receive-fixed swaps4 weighted average receive fixed rate (swaps only) 3.32%3.02%3.03% 3.05% 3.17% 3.19% 3.27% 3.29% 3.44% 5 3.02%6

 
© Fifth Third Bancorp | All Rights Reserved $1.1 $1.2 $1.2 $0.8 $0.7 $0.3 $0.5 $0.3 $0.2 $0.4 $1.4 $1.7 $1.5 $1.0 $1.1 Originations HFS Originations HFI 1Q23 2Q23 3Q23 4Q23 1Q24 $18 $22 $19 $20 $14 $83 $80 $79 $79 $78 $2 ($3) ($2) $2 ($5) ($34) ($40) ($39) ($35) ($33) $69 $59 $57 $66 $54 Origination fees and gains on loan sale Gross servicing fees Net MSR Valuation MSR decay 1Q23 2Q23 3Q23 4Q23 1Q24 Mortgage banking results $ in millions Mortgage banking net revenue Mortgage originations and margins • Mortgage banking net revenue decreased $12 million from the prior quarter, primarily reflecting decreases in MSR net valuation adjustments and origination fees and gains on loan sales, partially offset by a decrease in MSR asset decay • $1.1 billion in originations, up 9% from the prior quarter and down 25% compared to the year-ago quarter; ~80% purchase volume Note: totals shown above may not foot due to rounding $ in billions 1.05% 1.21% 1.52% 1.71% 1.45% 1.82%Gain-on-sale margin Gain-on-sale margin represents gains on all loans originated for sale divided by salable originations. Rate lock margin Rate lock margin represents gains recorded associated with salable rate locks divided by salable rate locks. 1.34% 1.29% 28 $69 $59 $57 $66Mortgage banking net revenue $54 1.53% 1.68%

 
© Fifth Third Bancorp | All Rights Reserved Preferred dividend schedule 2Q24 3Q24 4Q24 1Q25 Series H ~$13 ~$13 ~$13 ~$12 Series I ~$11 ~$10 ~$10 ~$10 Series J ~$7 ~$7 ~$6 ~$6 Series K ~$3 ~$3 ~$3 ~$3 Series L ~$4 ~$4 ~$4 ~$4 Class B Series A ~$3 ~$3 ~$3 ~$3 Total ~$40 ~$40 ~$39 ~$37 Upcoming preferred dividend schedule1 $ in millions For end note descriptions, see end note summary starting on page 43; totals shown above may not foot due to rounding 29 Floating2 Floating2 Floating2

 
© Fifth Third Bancorp | All Rights Reserved $77.4 $77.7 $76.4 $74.2 $72.8 $77.2 $76.4 $75.1 $72.7 $71.9 1Q23 2Q23 3Q23 4Q23 1Q24 1Q23 4Q23 1Q24 NCO ratio1 0.17% 0.13% 0.19% 30-89 Delinquencies 0.15% 0.11% 0.15% 90+ Delinquencies 0.02% 0.01% 0.02% Nonperforming Loans2 0.43% 0.45% 0.52% 30 Portfolio loans and leases $ in billions Period-end QoQ change Average QoQ change Key statistics Total commercial portfolio overview For end note descriptions, see end note summary starting on page 43; totals shown above may not foot due to rounding 0.8% 0.4% (1.8%) (2.8%) (1.9%) 1.1% (1.1%) (1.6%) (3.2%) (1.1%) Commercial Portfolio Mix 73% 16% 8% 4% C&I Commercial Mortgage Commercial Construction Commercial Leases Period-endAverage

 
© Fifth Third Bancorp | All Rights Reserved $58.1 $58.1 $57.0 $54.6 $53.2 $57.7 $56.9 $55.8 $53.3 $52.2 1Q23 2Q23 3Q23 4Q23 1Q24 1Q23 4Q23 1Q24 NCO ratio1 0.21% 0.20% 0.27% 30-89 Delinquencies 0.17% 0.09% 0.12% 90+ Delinquencies 0.03% 0.02% 0.02% Nonperforming Loans2 0.49% 0.57% 0.64% 31 Portfolio loans $ in billions Period-end QoQ change Average QoQ change Key statistics Revolving Line Utilization Trend3 Commercial & industrial overview For end note descriptions, see end note summary starting on page 43; totals shown above may not foot due to rounding 0.9% — (2.0%) (4.2%) (2.7%) 0.9% (1.4%) (1.9%) (4.5%) (2.0%) 33.4% 35.5% 36.8% 37.2% 36.8% 36.9% 35.3% 35.6% 35.3% 35.5% 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 Period-endAverage

 
© Fifth Third Bancorp | All Rights Reserved 53%47% 40% 17% 13% 7% 6% 2% 15% 1Q23 4Q23 1Q24 NCO ratio1 0.04% (0.07%) 0.00% 30-89 Delinquencies 0.04% 0.09% 0.15% 90+ Delinquencies 0.00% 0.00% 0.00% Nonperforming Loans2 0.29% 0.12% 0.23% Commercial real estate overview CRE Mortgage Balance by occupancy CRE Construction Balance by property type Portfolio loans Key statistics Period-end QoQ change Average QoQ change For end note descriptions, see end note summary starting on page 43; totals shown above may not foot due to rounding $ in billions 2.0% 0.1% (0.5%) 1.2% 1.4% 1.1% 1.7% (0.9%) 1.9% — Multifamily OtherRetail Hospitality Office Industrial Home Builder Non-Owner Occupied Owner Occupied Multifamily 20% Retail 19% Hospitality 18% Office 17% Medical Office 12% Industrial 7% Non-owner occupied property type mix $16.6 $16.9 $16.8 $17.1 $17.1$16.8 $16.8 $16.7 $16.9 $17.1 $5.5 $5.5 $5.5 $5.7 $5.7 $11.1 $11.4 $11.2 $11.3 $11.3 $5.5 $5.5 $5.6 $5.6 $5.8 $11.2 $11.3 $11.1 $11.3 $11.3 Average - Commercial Construction Average - Commercial Mortgage Period-End - Commercial Construction Period-End - Commercial Mortgage 1Q23 2Q23 3Q23 4Q23 1Q24 32 Other 7%

 
© Fifth Third Bancorp | All Rights Reserved 17% 17% 64% 1Q23 4Q23 1Q24 NCO ratio1 0.42% 0.64% 0.67% 30-89 Delinquencies 0.44% 0.63% 0.52% 90+ Delinquencies 0.06% 0.06% 0.05% Nonperforming Loans2 0.57% 0.73% 0.75% Weighted average FICO at origination3 765 765 766 Weighted average LTV at origination 78% 78% 78% Total consumer portfolio overview 33 Portfolio FICO score at origination3 $ in billions Portfolio loans Key statistics Period-end QoQ change Average QoQ change For end note descriptions, see end note summary starting on page 43; totals shown above may not foot due to rounding 1.9% 0.5% (0.7%) (1.4%) (0.2%) 1.2% (0.2%) (1.2%) (1.1%) 0.2% 750+720-749<660 660-719 $45.4 $45.6 $45.3 $44.6 $44.5 $45.6 $45.5 $45.0 $44.5 $44.6 1Q23 2Q23 3Q23 4Q23 1Q24 2% Period-endAverage

 
© Fifth Third Bancorp | All Rights Reserved 13% 15% 69% 1Q23 4Q23 1Q24 NCO ratio1 0.00% (0.01%) (0.01%) 30-89 Delinquencies 0.10% 0.18% 0.14% 90+ Delinquencies 0.05% 0.04% 0.03% Nonperforming Loans2 0.73% 0.73% 0.81% Weighted average FICO at origination3 764 764 764 Weighted average LTV at origination 71% 72% 72% Residential Mortgage overview 34 Portfolio FICO score at origination3 $ in billions Portfolio loans Key statistics Period-end QoQ change Average QoQ change For end note descriptions, see end note summary starting on page 43; totals shown above may not foot due to rounding — (0.4%) (0.7%) (1.6%) (0.9%) (0.1%) (0.6%) (1.2%) (1.5%) (0.2%) 750+720-749<660 660-719 $17.6 $17.5 $17.4 $17.1 $17.0 $17.6 $17.5 $17.3 $17.0 $17.0 1Q23 2Q23 3Q23 4Q23 1Q24 0% Period-endAverage

 
© Fifth Third Bancorp | All Rights Reserved 18% 16% 64% $4.0 $3.9 $3.9 $3.9 $3.9$4.0 $3.9 $3.9 $3.9 $3.9 1Q23 2Q23 3Q23 4Q23 1Q24 1Q23 4Q23 1Q24 NCO ratio1 (0.04%) 0.05% 0.03% 30-89 Delinquencies 0.58% 0.72% 0.64% 90+ Delinquencies 0.03% 0.00% 0.00% Nonperforming Loans2 1.72% 1.46% 1.55% Weighted average FICO at origination3 767 767 767 Weighted average LTV at origination 67% 67% 67% Home equity overview 35 Portfolio FICO score at origination3 $ in billions Portfolio balances Key statistics Period-end QoQ change Average QoQ change For end note descriptions, see end note summary starting on page 43; totals shown above may not foot due to rounding (0.5%) (1.7%) (1.0%) 0.2% 0.7% (2.0%) (1.2%) (0.3%) 0.5% (0.8%) 750+720-749<660 660-719 1% Period-endAverage

 
© Fifth Third Bancorp | All Rights Reserved 1Q23 4Q23 1Q24 NCO ratio1 0.34% 0.64% 0.64% 30-89 Delinquencies 0.67% 1.00% 0.82% Nonperforming Loans2 0.16% 0.24% 0.21% 80% 20% Auto Specialty Lending 20% 17% 62% Indirect secured consumer overview 36 Portfolio FICO score at origination Includes primarily RV & Marine $ in billions Portfolio loans Key statistics Period-end QoQ change Average QoQ change For end note descriptions, see end note summary starting on page 43; totals shown above may not foot due to rounding $16.6 $16.3 $15.8 $15.1 $15.2 $16.5 $16.1 $15.4 $15.0 $15.3 1Q23 2Q23 3Q23 4Q23 1Q24 1% 0.4% (1.9%) (3.0%) (4.2%) 0.3% (0.4%) (2.3%) (4.1%) (3.0%) 2.3% 750+720-749<660 660-719 Period-endAverage Weighted average FICO at origination3 767 768 769 Weighted average LTV at origination 88% 88% 88%

 
© Fifth Third Bancorp | All Rights Reserved 1Q23 4Q23 1Q24 NCO ratio1 3.43% 3.90% 4.19% 30-89 Delinquencies 1.02% 1.13% 1.09% 90+ Delinquencies 1.02% 1.13% 1.09% Nonperforming Loans2 1.65% 1.82% 1.84% 28% 20% 48% Credit card overview 37 Portfolio FICO score at origination3 750+720-749<660 660-719 $ in billions Portfolio loans Key statistics Period-end QoQ change Average QoQ change For end note descriptions, see end note summary starting on page 43; totals shown above may not foot due to rounding (0.8%) 0.2% 1.4% 1.2% (3.1%) (6.0%) 3.2% (0.1%) 2.6% (6.9%) $1.8 $1.8 $1.8 $1.8 $1.8$1.8 $1.8 $1.8 $1.9 $1.7 1Q23 2Q23 3Q23 4Q23 1Q24 Weighted average FICO at origination3 743 743 743 4% Period-endAverage

 
© Fifth Third Bancorp | All Rights Reserved 2.2 2.8 3.2 3.6 3.8 2.4 3.0 3.4 3.7 3.9 1Q23 2Q23 3Q23 4Q23 1Q24 15% 19% 66% 1Q23 4Q23 1Q24 NCO ratio1 0.45% 1.09% 1.31% 30-89 Delinquencies 0.33% 0.48% 0.36% Nonperforming Loans2 0.04% 1.61% 1.68% Weighted average FICO at origination3 769 771 771 Solar energy installation overview 38 Portfolio FICO score at origination $ in billions Portfolio loans Key statistics Period-end QoQ change Average QoQ change For end note descriptions, see end note summary starting on page 43; totals shown above may not foot due to rounding 55.5% 28.5% 16.4% 11.9% 4.5% 45.5% 22.6% 14.3% 10.2% 3.8% 750+720-749660-719 Period-endAverage

 
© Fifth Third Bancorp | All Rights Reserved 1Q23 2Q23 3Q23 4Q23 1Q24 Balance, beginning of period $263 $334 $345 $281 $326 Transfers to nonaccrual status 121 185 53 93 108 Transfers to accrual status (1) (58) — — (1) Transfers to held for sale — (4) (6) — (3) Loan paydowns/payoffs (22) (77) (39) (20) (18) Transfer to OREO — — — — — Charge-offs (33) (35) (72) (30) (40) Draws/other extensions of credit 6 — — 2 — Balance, end of period $334 $345 $281 $326 $372 1Q23 2Q23 3Q23 4Q23 1Q24 Balance, beginning of period $252 $259 $284 $289 $323 Transfers to nonaccrual status 99 122 107 141 112 Transfers to accrual status (33) (30) (27) (24) (22) Transfers to held for sale — — — — — Loan paydowns/payoffs (22) (23) (28) (26) (24) Transfer to OREO (5) (4) (5) (7) (5) Charge-offs (33) (41) (43) (52) (49) Draws/other extensions of credit 1 1 1 2 1 Balance, end of period $259 $284 $289 $323 $336 NPL1 Rollforward Commercial Consumer $ in millions $ in millions $ in millions For end note descriptions, see end note summary starting on page 43 39 Total NPL $593 $629 $570 $649 $708 Total new nonaccrual loans - HFI $220 $307 $160 $234 $220 Total NPL

 
© Fifth Third Bancorp | All Rights Reserved 1Q24 adjustments and notable items Adjusted EPS of $0.761 For end note descriptions, see end note summary starting on page 43 40 1Q24 reported EPS of $0.70 included a negative $0.06 impact from the following notable items: • $33 million pre-tax (~$25 million after-tax2) charge related to the updated FDIC special assessment • Interchange litigation matters: ‒ $17 million pre-tax (~$13 million after-tax2) charge related to the valuation of the Visa total return swap ‒ $5 million pre-tax (~$4 million after-tax2) charge related to Mastercard litigation

 
© Fifth Third Bancorp | All Rights Reserved For end note descriptions, see end note summary starting on page 43; totals shown above may not foot due to rounding 41 Fifth Third Bancorp and Subsidaries For the Three Months Ended $ and shares in millions March December September June March (unaudited) 2024 2023 2023 2023 2023 Net income (U.S. GAAP) (a) $520 $530 $660 $601 $558 Net income (U.S. GAAP) (annualized) (b) $2,091 $2,103 $2,618 $2,411 $2,263 Net income available to common shareholders (U.S. GAAP) (c) $480 $492 $623 $562 $535 Add: Intangible amortization, net of tax 8 8 8 8 9 Tangible net income available to common shareholders (d) $488 $500 $631 $570 $544 Tangible net income available to common shareholders (annualized) (e) $1,963 $1,984 $2,503 $2,286 $2,206 Net income available to common shareholders (annualized) (f) $1,931 $1,952 $2,472 $2,254 $2,170 Average Bancorp shareholders' equity (U.S. GAAP) (g) $18,727 $17,201 $17,305 $18,344 $17,977 Less: Average preferred stock (h) (2,116) (2,116) (2,116) (2,116) (2,116) Average goodwill (4,918) (4,919) (4,919) (4,919) (4,915) Average intangible assets and other servicing rights (121) (130) (141) (152) (163) Average tangible common equity (i) $11,572 $10,036 $10,129 $11,157 $10,783 Less: Average accumulated other comprehensive income ("AOCI") 4,938 6,244 5,835 4,480 4,442 Average tangible common equity, excluding AOCI (j) $16,510 $16,280 $15,964 $15,637 $15,225 Adjustments (pre-tax items) FDIC special assessment 33 224 — — — Valuation of Visa total return swap 17 22 10 30 31 Mastercard litigation 5 — — — — Fifth Third Foundation contribution — 15 — — — Restructuring severance expense — 5 — 12 12 Adjustments - after-tax1 (k) $42 $205 $8 $32 $33 Adjustments (tax related items) Tax benefit associated with resolution of certain acquisition related tax matters — (17) — — — Adjustments (tax related items) (l) — (17) — — — Adjusted net income [(a) + (k)+ (l)] $562 $718 $668 $633 $591 Adjusted net income (annualized) (m) $2,260 $2,849 $2,650 $2,539 $2,397 Adjusted net income available to common shareholders [(c) + (k) + (l)] $522 $680 $631 $594 $568 Adjusted net income available to common shareholders (annualized) (n) $2,099 $2,698 $2,503 $2,383 $2,306 Adjusted tangible net income available to common shareholders [(d) + (k) + (l)] 530 $688 $639 $602 $577 Adjusted tangible net income available to common shareholders (annualized) (o) $2,132 $2,730 $2,535 $2,415 $2,340 Average assets (p) $213,203 $214,057 $208,385 $206,079 $205,084 Metrics: Return on assets (b) / (p) 0.98% 0.98% 1.26% 1.17% 1.10% Adjusted return on assets (m) / (p) 1.06% 1.33% 1.27% 1.23% 1.17% Return on average common equity (f) / [(g) + (h)] 11.6% 12.9% 16.3% 13.9% 13.7% Adjusted return on average common equity (n) / [(g) + (h)] 12.6% 17.9% 16.5% 14.7% 14.5% Return on average tangible common equity (e) / (i) 17.0% 19.8% 24.7% 20.5% 20.5% Adjusted return on average tangible common equity (o) / (i) 18.4% 27.2% 25.0% 21.6% 21.7% Adjusted return on average tangible common equity, excluding AOCI (o) / (j) 12.9% 16.8% 15.9% 15.4% 15.4% Non-GAAP reconciliation

 
© Fifth Third Bancorp | All Rights Reserved Non-GAAP reconciliation For end note descriptions, see end note summary starting on page 43; totals shown above may not foot due to rounding 42 Fifth Third Bancorp and Subsidiaries For Three Months Ended $ and shares in millions March December September June March (unaudited) 2024 2023 2023 2023 2023 Average interest-earning assets (a) $195,349 $198,166 $192,216 $189,060 $187,407 Net interest income (U.S. GAAP) (b) $1,384 $1,416 $1,438 $1,457 $1,517 Add: Taxable equivalent adjustment 6 7 7 6 5 Net interest income (FTE) (c) $1,390 $1,423 $1,445 $1,463 $1,522 Net interest income (FTE) (annualized) (d) $5,591 $5,646 $5,733 $5,868 $6,173 Noninterest income (U.S. GAAP) (e) $710 $744 $715 $726 $696 Valuation of Visa total return swap 17 22 10 30 31 Adjusted noninterest income (f) $727 $766 $725 $756 $727 Add: Securities (gains)/losses (10) (15) 7 (7) (4) Adjusted noninterest income, (excl. securities (gains)/losses) $717 $751 $732 $749 $723 Noninterest expense (U.S. GAAP) (g) $1,342 $1,455 $1,188 $1,231 $1,331 FDIC Special Assessment (33) (224) — — — Mastercard litigation (5) — — — — Fifth Third Foundation contribution — (15) — — — Restructuring severance expense — (5) — (12) (12) Adjusted noninterest expense (h) $1,304 $1,211 $1,188 $1,219 $1,319 Metrics: Revenue (FTE) (c) + (e) 2,100 2,167 2,160 2,189 2,218 Adjusted revenue (c) + (f) 2,117 2,189 2,170 2,219 2,249 Pre-provision net revenue [(c) + (e) - (g)] 758 712 972 958 887 Adjusted pre-provision net revenue [(c) + (f) - (h)] 813 978 982 1,000 930 Net interest margin (FTE) (d) / (a) 2.86% 2.85% 2.98% 3.10% 3.29% Efficiency ratio (FTE) (g) / [(c) + (e)] 63.9% 67.2% 55.0% 56.2% 60.0% Adjusted efficiency ratio (h) / [(c) + (f)] 61.6% 55.3% 54.7% 54.9% 58.6%

 
© Fifth Third Bancorp | All Rights Reserved Slide 3 end notes 1. Reported ROTCE, NIM, pre-provision net revenue, and efficiency ratio are non-GAAP measures: all adjusted figures are non-GAAP measures; see reconciliation on pages 41 and 42 of this presentation and the use of non-GAAP measures on pages 26-28 of the earnings release. 2. Current period regulatory capital ratios are estimated. Slide 4 end notes 1. Results are on a fully-taxable equivalent basis; non-GAAP measure: see reconciliation on pages 41 and 42 of this presentation and use of non-GAAP measures on pages 26-28 of the earnings release. Slide 5 end notes 1. Non-GAAP measure: see reconciliation on pages 41 and 42 of this presentation and use of non-GAAP measures on pages 26-28 of the earnings release. Slide 6 end notes 1. Non-GAAP measure: see reconciliation on pages 41 and 42 of this presentation and use of non-GAAP measures on pages 26-28 of the earnings release. Slide 7 end notes 1. Includes taxable and tax-exempt securities. Slide 9 end notes 1. Insured by FDIC product type. 2. Data sourced from S&P Global Market Intelligence with deposits per branch capped at $250MM per June 2023 FDIC data; Midwest and Southeast rankings represent in footprint deposit market share. 3. See forward-looking statements on page 2 of this presentation regarding forward-looking non-GAAP measures and use of non-GAAP measures on pages 26-28 of the earnings release. 4. Pro-forma mix including the impact of the MB acquisition Slide 10 end notes 1. Excludes HFS loans. Slide 11 end notes 1. 1Q24 commercial and consumer portfolio make up ~$103M and ~$51M, respectively, of the total reserve for unfunded commitment. Slide 12 end notes 1. Current period regulatory capital ratios are estimated. Slide 13 end notes 1. See forward-looking statements on page 2 of this presentation regarding forward-looking non-GAAP measures and use of non-GAAP measures on pages 26-28 of the earnings release. 2. Analysis based on 3/31/2024 portfolio utilizing the implied forward curve as of 3/31/2024 Slide 14 end notes 1. Non-GAAP measure: see forward-looking statements on page 2 of this presentation regarding forward-looking non-GAAP measures and use of non-GAAP measures on pages 26-28 of the earnings release. Slide 15 end notes 1. Non-GAAP measure: see forward-looking statements on page 2 of this presentation regarding forward-looking non-GAAP measures and use of non-GAAP measures on pages 26-28 of the earnings release. 43 Earnings presentation end notes

 
© Fifth Third Bancorp | All Rights Reserved Slide 18 end notes Data is fiscal year 2023, unless otherwise noted. 1. Data is through 3/31/2024. 2. For Scope 1, Scope 2 and business travel under Scope 3 emissions. 3. Sustainable Bond Report can be found at ir.53.com/esg/Sustainable-Bonds. 4. The timeframe for $2.8B commitment to Accelerate Racial Equity, Equality and Inclusion initiative was from 1/1/21 – 12/31/23. 5. Data is as of 4/15/24 representing ethnicity or gender. 6. For fiscal year 2023. 7. Data is as of 4/15/24. 8. Data is for 1Q24. 9. Data is for March 2024. 10. The timeframe for $180MM Empowering Black Futures Neighborhood Investment Program is from 6/1/21 – 3/31/24. Slide 19 end notes 1. Peer Group comprises of Fifth Third's board approved peers. 2. From leading third party ESG data provider. 3. Among Retail and Specialized Banks in North America. Slide 21 end notes Note: Data as of 3/31/2024. 1. Excludes HFS Loans & Leases. 2. Fifth Third had $8B of commercial variable loans classified as fixed given the impacts of $8BN in C&I receive-fix swaps; Excludes forward starting swaps & floors; Excludes $3BN in out-of-the-money floors with a 2.25% 1ML strike currently on the balance sheet. 3. Fifth Third had $5.96BN SOFR receive-fix swaps outstanding against long-term debt, which are being included in floating long-term debt. 4. Yield of the 1Q24 weighted average taxable and non-taxable (tax equivalent) available for sale and held to maturity portfolio. 5. As a percent of total commercial. 6. As a percent of total consumer. 7. Includes 12M term, 6M term, and Fed Funds based loans. 8. Term points include SOFR, BSBY, AMERIBOR, Treasuries & FX curves. 9. Includes overnight term, 3M term, 6M term, 12M term and Fed Funds. Slide 24 end notes 1. Highly monitored leverage lending definition: commitments > $5M and > 3x Senior Debt; 4x total debt (with limited industry variations) Slide 25 end notes Note: Data as of 3/31/24; actual results may vary from these simulated results due to differences between forecasted and actual balance sheet composition, timing, magnitude, and frequency of interest rate changes, as well as other changes in market conditions and management strategies. 1. Re-pricing percentage or “beta” is the estimated change in yield after the 12-month ramp scenarios are fully realized and therefore reflects year-2. 2. Betas are asymmetrical as down betas assume a floor of 0%, along with rate floors, and up betas assumes a cap of 100% 3. Forecasted deposit migration from low-beta deposit products to more rate-sensitive deposit products in the rising rate scenarios contribute additional beta of 5% Slide 26 end notes 1. Includes deposits with a rate below 100 bps and time deposits with remaining maturity of more than 12 months 2. Comprised of deposits with a rate between 100 – 400 bps and time deposits maturing in the next 6 – 12 months 3. Includes deposits with a rate above 400 bps and corporate sweep deposits, CDs $250K or less maturing in the next 6 months, and CDs over $250K Earnings presentation end notes 44

 
© Fifth Third Bancorp | All Rights Reserved Slide 27 end notes 1. Represents forward looking statement, please refer to page 2 of this presentation regarding forward-looking non-GAAP measures 2. Effective July 1, 2023 the rate index transitioned from 1-month LIBOR to compound SOFR + 11.448 bps 3. Forward starting swaps are receive fixed / pay compound SOFR + 11.448 bps 4. Existing swaps transition from receive fixed / pay 1-month LIBOR to receive fixed / pay compound SOFR + 11.448 bps on their next post-LIBOR cessation resets 5. $3BN floors mature on 12/16/2024. 6. Reflects the weighted average receive fixed rate (swaps only) as of 3/31/24 Slide 29 end notes 1. Represents forward looking statement, please refer to page 2 of this presentation regarding forward-looking non-GAAP measures. 2. Projected dividends for the Series J, Series H, and Series I reflect 3m Term SOFR plus the applicable spread. For the periods referencing 3m Term SOFR, the projections include the 26.161bps spread adjustment pursuant to the final rule adopted by the Federal Reserve. Slide 30 end notes 1. Net losses charged-off as a percent of average portfolio loans and leases presented on an annualized basis. 2. Nonperforming portfolio loans and leases as a percent of portfolio loans and leases. Slide 31 end notes 1. Net losses charged-off as a percent of average portfolio loans and leases presented on an annualized basis. 2. Nonperforming portfolio loans and leases as a percent of portfolio loans and leases. 3. Total commercial portfolio line utilization. Slide 32 end notes 1. Net losses charged-off as a percent of average portfolio loans and leases presented on an annualized basis. 2. Nonperforming portfolio loans and leases as a percent of portfolio loans and leases. Slide 33 end notes 1. Net losses charged-off as a percent of average portfolio loans and leases presented on an annualized basis. 2. Nonperforming portfolio loans and leases as a percent of portfolio loans and leases. 3. FICO distributions at origination exclude certain acquired mortgage & home equity loans, and ~$80 million of credit loans on book primarily ~15+ years. Slide 34 end notes 1. Net losses charged-off as a percent of average portfolio loans and leases presented on an annualized basis. 2. Nonperforming portfolio loans and leases as a percent of portfolio loans and leases. 3. FICO distributions at origination exclude certain acquired mortgage loans. Slide 35 end notes 1. Net losses charged-off as a percent of average portfolio loans and leases presented on an annualized basis. 2. Nonperforming portfolio loans and leases as a percent of portfolio loans and leases. 3. FICO distributions at origination exclude certain acquired home equity loans. Slide 36 end notes 1. Net losses charged-off as a percent of average portfolio loans and leases presented on an annualized basis. 2. Nonperforming portfolio loans and leases as a percent of portfolio loans and leases. 45 Earnings presentation end notes

 
© Fifth Third Bancorp | All Rights Reserved Slide 37 end notes 1. Net losses charged-off as a percent of average portfolio loans and leases presented on an annualized basis. 2. Nonperforming portfolio loans and leases as a percent of portfolio loans and leases. 3. FICO distributions at origination exclude ~$80 million from credit loans on book primarily ~15+ years. Slide 38 end notes 1. Net losses charged-off as a percent of average portfolio loans and leases presented on an annualized basis. 2. Nonperforming portfolio loans and leases as a percent of portfolio loans and leases. Slide 39 end notes 1. Loan balances exclude nonaccrual loans HFS. Slide 40 end notes 1. Average diluted common shares outstanding (thousands); 690,634; all adjusted figures are non-GAAP measures; see reconciliation on pages 41 and 42 of this presentation and the use of non-GAAP measures on pages 26-28 of the earnings release. 2. Assumes a 23% tax rate. Slide 41 end notes Note: See pages 26-28 of the earnings release for a discussion on the use of non-GAAP financial measures. 1. Assumes a 23% tax rate. Slide 42 end notes Note: See pages 26-28 of the earnings release for a discussion on the use of non-GAAP financial measures. 46 Earnings presentation end notes