Fifth Third Bancorp · Earnings release

Fifth Third Bancorp Reports Second Quarter 2025 Diluted Earnings Per Share of $0.88

Accelerating revenue growth led by continued loan growth and net interest margin expansion

Reported results included a negative $0.02 impact from certain items on page 2

Key Financial Data

Key Highlights

$ in millions for all balance sheet and income statement items

Stability:

•Net charge-off ratio(b) declined 1 bp sequentially and 4 bps compared to 2Q24; NPAs decreased 11% sequentially, including commercial NPAs down 18%

•Interest-bearing liabilities costs down 2 bps compared to 1Q25; 4% DDA growth year-over-year

•Strong profitability resulted in CET1 increasing 13 bps to 10.56%

Profitability:

•Disciplined expense management; efficiency ratio(a) of 56.2%; adjusted efficiency ratio(a) of 55.5%, an improvement of 130 bps year-over-year

•Net interest margin expanded for the 6th consecutive quarter

•Adjusted ROTCE ex. AOCI(a) of 13.9% and adjusted ROA(a) of 1.22%

Growth:

•5% loan growth compared to 2Q24; annual loan growth reaches highest level in over two years

•Consumer household growth of 2%, including 6% in the Southeast

•Assets under management of $73B, up 12% compared to 2Q24

Income Statement Data

Net income available to common shareholders

Net interest income (U.S. GAAP)

Net interest income (FTE)(a)

Noninterest income

Noninterest expense

Per Share Data

Earnings per share, basic

Earnings per share, diluted

Book value per share

Tangible book value per share(a)

Balance Sheet & Credit Quality

Average portfolio loans and leases

Average deposits

Accumulated other comprehensive loss

Net charge-off ratio(b)

%

%

%

Nonperforming asset ratio(c)

Financial Ratios

Return on average assets

%

%

%

Return on average common equity

Return on average tangible common equity(a)

CET1 capital(d)(e)

Net interest margin(a)

Efficiency(a)

Other than the Quarterly Financial Review tables beginning on page 13, 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 underscore our strong balance sheet, diverse revenue streams, and disciplined expense management. We've expanded our net interest margin, improved credit metrics, and strengthened our efficiency ratio.

Our ongoing investments in strategic growth priorities continue to drive robust results. In the second quarter, adjusted revenues and adjusted PPNR increased year-over-year by 6% and 10%, respectively, marking the highest growth rate in the past two years. Our balance sheet remains well-diversified and neutrally positioned. This quarter, we accreted 13 basis points of CET1 capital and grew tangible book value per share by 18% over the past year.

By focusing on developing the capabilities to generate high-quality deposits, diversified loan originations, recurring fee revenue and consistent improvements in operating scalability, we expect to continue to generate strong, stable returns for our long-term shareholders during volatile environments.

As we move forward, we will continue to adhere to our operating principles of stability, profitability, and growth – in that order.

Investor contact: Matt Curoe (513) 534-2345 | Media contact: Jennifer Hendricks Sullivan (614) 744-7693 July 17, 2025

Income Statement Highlights

($ in millions, except per share data)

For the Three Months Ended

% Change

June

March

June

Seq

Yr/Yr

Condensed Statements of Income

Net interest income (NII)(a)

4%

8%

Provision for credit losses

(1)%

Noninterest income

8%

8%

Noninterest expense

(3)%

4%

Income before income taxes(a)

6%

Taxable equivalent adjustment

$5

$5

$6

—

Applicable income tax expense

Net income

4%

Dividends on preferred stock

—

(8)%

Net income available to common shareholders

5%

Earnings per share, diluted

9%

Fifth Third Bancorp (NASDAQ®: FITB) today reported second quarter 2025 net income available to common shareholders of $591 million, or $0.88 per diluted share, compared to $478 million, or $0.71 per diluted share, in the prior quarter and $561 million, or $0.81 per diluted share, in the year-ago quarter.

Diluted earnings per share impact of certain item(s) - 2Q25

(after-tax impact; $ in millions, except per share data)

Severance expense (noninterest expense)(f)

Valuation of Visa total return swap (noninterest income)(f)

$(1)

After-tax impact(f) of certain item(s)

Diluted earnings per share impact of certain item(s)1

Totals may not foot due to rounding; 1Diluted earnings per share impact reflects 674.034 million average diluted shares outstanding

2

Net Interest Income

(FTE; $ in millions)(a)

For the Three Months Ended

% Change

June

March

June

Seq

Yr/Yr

Interest Income

Interest income

2%

(5)%

Interest expense

(1)%

Net interest income (NII)

4%

8%

NII excluding certain items(a)

4%

7%

Average Yield/Rate Analysis

bps Change

Yield on interest-earning assets

%

%

%

5

Rate paid on interest-bearing liabilities

%

%

%

(2)

Ratios

Net interest rate spread

%

%

%

7

Net interest margin (NIM)

%

%

%

9

NIM excluding certain items(a)

%

%

%

9

Compared to the prior quarter, NII increased $58 million, or 4%. This improvement primarily reflects higher average loan balances, fixed-rate asset repricing and strategic deposit management actions decreasing the cost of interest-bearing deposits. NII included a $14 million benefit in the quarter associated with the payoff of a partially charged-off commercial loan previously classified as nonaccrual. These same factors, coupled with the continued normalization of cash and other short-term investment balances, contributed to the 9 bps increase in NIM.

Compared to the year-ago quarter, NII increased $107 million, or 8%, and NIM increased 24 bps. This improvement was due to the benefits from proactive deposit and wholesale funding management decreasing interest-bearing liabilities costs by 61 bps, improved earning asset mix, and the benefit of fixed-rate asset repricing, which more than offset the impact of lower market rates on floating rate assets.

3

Noninterest Income

($ in millions)

For the Three Months Ended

% Change

June

March

June

Seq

Yr/Yr

Noninterest Income

Wealth and asset management revenue

(3)%

4%

Commercial payments revenue

(1)%

(1)%

Consumer banking revenue

7%

6%

Capital markets fees

—

(3)%

Commercial banking revenue

(1)%

Mortgage banking net revenue

(2)%

Other noninterest income

7

Securities gains (losses), net

(9)

3

NM

Total noninterest income

8%

8%

Reported noninterest income increased $56 million, or 8%, from the prior quarter, and increased $55 million, or 8%, from the year-ago quarter. The reported results reflect the impact of certain items in the table below, including the mark-to-market on the valuation of the Visa total return swap and securities gains/losses which incorporate mark-to-market impacts from securities associated with non-qualified deferred compensation plans that are more than offset in noninterest expense.

Noninterest Income excluding certain items

($ in millions)

For the Three Months Ended

June

March

June

% Change

Seq

Yr/Yr

Noninterest Income excluding certain items

Noninterest income (U.S. GAAP)

Valuation of Visa total return swap

1

Legal settlements and remediations

—

—

2

Securities (gains) losses, net

9

(3)

Noninterest income excluding certain items(a)

2%

3%

Noninterest income excluding certain items increased $14 million, or 2%, compared to the prior quarter, and increased $18 million, or 3%, from the year-ago quarter.

Wealth and asset management revenue decreased $6 million, or 3% sequentially, due to seasonal tax-related revenue in the prior quarter. Commercial payments revenue decreased $1 million, or 1%, due to higher earnings credits. Consumer banking revenue increased $10 million, or 7%, driven by card and processing revenue and deposit fees. Capital markets fees were stable, reflecting decreases in client financial risk management and corporate bond fees, offset by increases in equity capital markets and M&A advisory revenue. The increase in other noninterest income was driven by seasonal equity fund investment income and the Visa total return swap.

Compared to the year-ago quarter, wealth and asset management revenue increased $7 million, or 4%, primarily reflecting an increase in personal asset management revenue due to AUM growth. Commercial payments revenue decreased $2 million, or 1%, driven by higher earnings credits and lower commercial card fees, partially offset by higher deposit fees. Consumer banking revenue increased $8 million, or 6%, primarily driven by deposit fees. Capital markets fees decreased $3 million, or 3%, reflecting a decrease in M&A advisory and client financial risk management, partially offset by higher loan syndication revenue. Commercial banking revenue decreased $11 million, or 12%, primarily reflecting lower business lending fees and the continued decrease in operating lease revenue. Mortgage banking net revenue increased $6 million, or 12%, due to the prior year loss on MSR net valuation adjustments not recurring in the current quarter.

4

Noninterest Expense

($ in millions)

For the Three Months Ended

% Change

June

March

June

Seq

Yr/Yr

Noninterest Expense

Compensation and benefits

(7)%

6%

Technology and communications

2%

Net occupancy expense

(5)%

—

Equipment expense

(2)%

8%

Loan and lease expense

9%

Marketing expense

Card and processing expense

5%

5%

Other noninterest expense

(4)%

Total noninterest expense

(3)%

4%

Reported noninterest expense decreased $40 million, or 3%, from the prior quarter, and increased $43 million, or 4%, 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

June

March

June

Seq

Yr/Yr

Noninterest Expense excluding certain item(s)

Noninterest expense (U.S. GAAP)

Severance expense

—

—

Legal settlements and remediations

—

—

FDIC special assessment

—

—

(6)

Noninterest expense excluding certain item(s)(a)

(4)%

4%

Compared to the prior quarter, noninterest expense excluding certain items decreased $55 million, or 4%, primarily reflecting a seasonal decrease in compensation and benefits expense. Noninterest expense in the current quarter included a $16 million expense related to the mark-to-market impact of non-qualified deferred compensation compared to a $4 million benefit in the prior quarter, both of which were largely offset in net securities gains/losses through noninterest income.

Compared to the year-ago quarter, noninterest expense excluding certain items increased $45 million, or 4%. The year-ago quarter included an $3 million expense related to the mark-to-market impact of non-qualified deferred compensation, which was largely offset in net securities gains through noninterest income.

5

Average Interest-Earning Assets

($ in millions)

For the Three Months Ended

% Change

June

March

June

Seq

Yr/Yr

Average Portfolio Loans and Leases

Commercial loans and leases:

Commercial and industrial loans

1%

3%

Commercial mortgage loans

—

9%

Commercial construction loans

—

(2)%

Commercial leases

—

Total commercial loans and leases

1%

4%

Consumer loans:

Residential mortgage loans

—

4%

Home equity

4%

Indirect secured consumer loans

5%

Credit card

2%

(4)%

Solar energy installation loans

1%

9%

Other consumer loans

(1)%

(9)%

Total consumer loans

2%

7%

Total average portfolio loans and leases

1%

5%

Average Loans and Leases Held for Sale

Commercial loans and leases held for sale

Consumer loans held for sale

Total average loans and leases held for sale

Total average loans and leases

2%

5%

Securities (taxable and tax-exempt)

(1)%

(1)%

Other short-term investments

Total average interest-earning assets

—

(1)%

Compared to the prior quarter, total average portfolio loans and leases increased 1%. Average commercial portfolio loans and leases increased 1%, primarily driven by increases in C&I loans. Average consumer portfolio loans increased 2%, primarily due to increases in indirect secured consumer and home equity loans.

Compared to the year-ago quarter, total average portfolio loans and leases increased 5%. Average commercial portfolio loans and leases increased 4%, primarily reflecting increases in C&I and commercial mortgage loans. Average consumer portfolio loans increased 7%, primarily due to increases in indirect secured consumer and residential mortgage loans.

Average securities (taxable and tax-exempt; amortized cost) of $56 billion in the current quarter decreased 1% compared to the prior and year-ago quarter. Average other short-term investments (including interest-bearing cash) of $13 billion in the current quarter decreased 12% compared to the prior quarter and decreased 38% compared to the year-ago quarter due to proactive liability management and increased lending activity.

Period-end commercial portfolio loans and leases of $74 billion decreased 1% compared to the prior quarter, primarily reflecting decreases in C&I and commercial construction loans. Compared to the year-ago quarter, period-end commercial portfolio loans and leases increased 3%, primarily due to increases in C&I and commercial mortgage loans.

Period-end consumer portfolio loans of $48 billion increased 3% compared to the prior quarter, primarily reflecting an increase in indirect secured consumer and home equity loans. Compared to the year-ago quarter, period-end consumer portfolio loans increased 8%, primarily driven by increases in indirect secured consumer, residential mortgage, and home equity loans.

6

Total period-end securities (taxable and tax-exempt; amortized cost) of $55 billion in the current quarter decreased 2% compared to the prior quarter and decreased 3% compared to the year-ago quarter. Period-end other short-term investments of approximately $13 billion decreased 13% compared to the prior quarter and decreased 38% compared to the year-ago quarter.

Average Deposits

($ in millions)

For the Three Months Ended

% Change

June

March

June

Seq

Yr/Yr

Average Deposits

Demand

3%

2%

Interest checking

(2)%

(2)%

Savings

(2)%

(4)%

Money market

—

2%

Total transaction deposits

—

(1)%

1%

(3)%

Total core deposits

—

(1)%

(6)%

Total average deposits

—

(2)%

1CDs over $250,000 includes $1.1BN, $1.3BN, and $3.8BN of retail brokered certificates of deposit which are fully covered by FDIC insurance for the three months ended 6/30/25, 3/31/25, and 6/30/24, respectively.

Compared to the prior quarter, total average deposits were stable, primarily reflecting modest increases in demand deposits and CDs $250,000 or less, offset by a decline in interest checking and savings balances. The growth in demand deposits is a result of our focus on improving our deposit mix and resulted in four consecutive quarters of declining deposit costs. Period-end total deposits decreased 1%.

Compared to the year-ago quarter, total average deposits decreased 2%, primarily driven by the continued reduction in brokered deposits and lower interest checking balances, partially offset by an increase in money market and demand deposits. Period-end total deposits decreased 2%.

The period-end portfolio loan-to-core deposit ratio was 76% in the current quarter, compared to 75% in the prior quarter and 72% in the year-ago quarter.

Average Wholesale Funding

($ in millions)

For the Three Months Ended

% Change

June

March

June

Seq

Yr/Yr

Average Wholesale Funding

(6)%

Federal funds purchased

6%

Securities sold under repurchase agreements

(5)%

FHLB advances

4%

Derivative collateral and other secured borrowings

6%

Long-term debt

—

(6)%

Total average wholesale funding

1%

(7)%

1CDs over $250,000 includes $1.1BN, $1.3BN, and $3.8BN of retail brokered certificates of deposit which are fully covered by FDIC insurance for the three months ended 6/30/25, 3/31/25, and 6/30/24, respectively.

Compared to the prior quarter, average wholesale funding increased 1%, driven in part by higher short-term FHLB advances and securities sold under repurchase agreements, partially offset by a reduction in CDs over $250,000. The 7% decrease in average wholesale funding compared to the year-ago quarter was primarily due to lower balances in CDs over $250,000 and long-term debt, partially offset by increased utilization of short-term FHLB advances.

7

Credit Quality Summary

($ in millions)

As of and For the Three Months Ended

June

March

December

September

June

Total nonaccrual portfolio loans and leases (NPLs)

Repossessed property

8

9

9

9

OREO

Total nonperforming portfolio loans and leases and OREO (NPAs)

NPL ratio(g)

%

%

%

%

%

NPA ratio(c)

%

%

%

%

%

Portfolio loans and leases 30-89 days past due (accrual)

Portfolio loans and leases 90 days past due (accrual)

30-89 days past due as a % of portfolio loans and leases

%

%

%

%

%

90 days past due as a % of portfolio loans and leases

%

%

%

%

%

Allowance for loan and lease losses (ALLL), beginning

Total net losses charged-off

Provision for loan and lease losses

ALLL, ending

Reserve for unfunded commitments, beginning

Provision for (benefit from) the reserve for unfunded commitments

6

6

(4)

1

Reserve for unfunded commitments, ending

Total allowance for credit losses (ACL)

ACL ratios:

As a % of portfolio loans and leases

%

%

%

%

%

As a % of nonperforming portfolio loans and leases

%

%

%

%

%

As a % of nonperforming portfolio assets

%

%

%

%

%

ALLL as a % of portfolio loans and leases

%

%

%

%

%

Total losses charged-off

Total recoveries of losses previously charged-off

Total net losses charged-off

Net charge-off ratio (NCO ratio)(b)

%

%

%

%

%

Commercial NCO ratio

%

%

%

%

%

Consumer NCO ratio

%

%

%

%

%

The provision for credit losses totaled $173 million in the current quarter and the ACL ratio represented 2.09% of total portfolio loans and leases at quarter end, consistent with 2.07% in the prior quarter and 2.08% in the year-ago period. The ACL covered 300% of nonperforming portfolio loans and leases and 289% of nonperforming portfolio assets.

Net charge-offs totaled $139 million in the current quarter, up $3 million from the prior quarter and the NCO ratio decreased 1 bp to 0.45%. Commercial net charge-offs were $71 million, with a commercial NCO ratio of 0.38%, up 3 bps from the prior quarter. Consumer net charge-offs were $68 million, with a consumer NCO ratio of 0.56%, down 7 bps sequentially.

8

Compared to the year-ago quarter, net charge-offs decreased $5 million and the NCO ratio decreased 4 bps. The commercial NCO ratio decreased 7 bps, and the consumer NCO ratio decreased 1 bps compared to the prior year.

Nonperforming portfolio loans and leases declined to $853 million in the current quarter, representing an NPL ratio of 0.70%, down from 0.79% in the prior quarter and up from 0.52% in the year-ago quarter.

Nonperforming portfolio assets totaled $886 million in the current quarter, resulting in an NPA ratio of 0.72%, compared to 0.81% in the prior quarter and 0.55% in the year-ago quarter.

Capital Position

As of and For the Three Months Ended

June

March

December

September

June

Capital Position

Average total Bancorp shareholders' equity as a % of average assets

%

%

%

%

%

Tangible equity(a)

%

%

%

%

%

Tangible common equity (excluding AOCI)(a)

%

%

%

%

%

Tangible common equity (including AOCI)(a)

%

%

%

%

%

Regulatory Capital Ratios(d)(e)

CET1 capital

%

%

%

%

%

Tier 1 risk-based capital

%

%

%

%

%

Total risk-based capital

%

%

%

%

%

Leverage

%

%

%

%

%

CET1 capital ratio of 10.56% increased 13 bps sequentially driven by strong profitability, reflecting the resilience of our core business performance. Fifth Third did not execute share repurchases in the second quarter of 2025.

In June 2025, Fifth Third's Board of Directors approved a new share repurchase authorization of up to 100 million shares. The new repurchase authorization does not have an expiration date and may be executed through open market purchases or private negotiated transactions.

9

Tax Rate

The effective tax rate for the quarter was 22.2% compared with 21.2% in the prior quarter and 21.3% 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 as of December 31, 2024, September 30, 2024 and June 30, 2024 were calculated pursuant to the five-year transition provision option to phase in the effects of CECL on regulatory capital.

(e)Current period regulatory capital ratios are estimated.

(f)Assumes a 24% tax rate.

(g)Nonperforming portfolio loans and leases as a percent of portfolio loans and leases.

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, including the use of artificial intelligence; (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 in U.S. trade policies, including the imposition of tariffs and retaliatory tariffs; (27) changes and trends in capital markets; (28) fluctuation of Fifth Third’s stock price; (29) volatility in mortgage banking revenue; (30) litigation, investigations, and enforcement proceedings; (31) breaches of contractual covenants, representations and warranties; (32) competition and changes in the financial services industry; (33) potential impacts of the adoption of real-time payment networks; (34) changing retail distribution strategies, customer preferences and behavior; (35) difficulties in identifying, acquiring or integrating suitable strategic partnerships, investments or acquisitions; (36) potential dilution from future acquisitions; (37) loss of income and/or difficulties encountered in the sale and separation of businesses, investments or other assets; (38) results of investments or acquired entities; (39) changes in accounting standards or interpretation or declines in the value of Fifth Third’s goodwill or other intangible assets; (40) inaccuracies or other failures from the use of models; (41) effects of critical accounting policies and judgments or the use of inaccurate estimates; (42) weather-related events, other natural disasters, or health emergencies (including pandemics); (43) the impact of reputational risk created by these or other developments on such matters as business generation and retention, funding and liquidity; (44) changes in law or requirements imposed by Fifth Third’s regulators impacting our capital actions, including dividend payments and stock repurchases; and (45) 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.

# # #

Quarterly Financial Review for June 30, 2025

Table of Contents

Financial Highlights

Consolidated Statements of Income

Consolidated Balance Sheets

Consolidated Statements of Changes in Equity

Average Balance Sheets and Yield/Rate Analysis

Summary of Loans and Leases

Regulatory Capital

Summary of Credit Loss Experience

Asset Quality

Non-GAAP Reconciliation

Segment Presentation

Fifth Third Bancorp and Subsidiaries

Financial Highlights

As of and For the Three Months Ended

% / bps

% / bps

$ in millions, except per share data

Change

Year to Date

Change

(unaudited)

June

March

June

June

June

Seq

Yr/Yr

Yr/Yr

Income Statement Data

Net interest income

4%

8%

6%

Net interest income (FTE)(a)

4%

8%

6%

Noninterest income

8%

8%

3%

Total revenue (FTE)(a)

5%

8%

5%

Provision for credit losses

(1%)

Noninterest expense

(3%)

4%

—

Net income

4%

2%

Net income available to common shareholders

5%

3%

Earnings Per Share Data

Net income allocated to common shareholders

5%

3%

Average common shares outstanding (in thousands):

Basic

—

(2%)

(2%)

Diluted

—

(2%)

(2%)

Earnings per share, basic

7%

5%

Earnings per share, diluted

9%

5%

Common Share Data

Cash dividends per common share

—

6%

6%

Book value per share

4%

Market value per share

5%

Common shares outstanding (in thousands)

—

(2%)

(2%)

Market capitalization

5%

Financial Ratios

Return on average assets

%

%

%

6

%

%

3

Return on average common equity

%

%

%

%

%

Return on average tangible common equity(a)

%

%

%

%

%

Noninterest income as a percent of total revenue(a)

%

%

%

—

%

%

Dividend payout

%

%

%

%

%

Average total Bancorp shareholders’ equity as a percent of average assets

%

%

%

%

%

Tangible common equity(a)

%

%

%

%

%

Net interest margin (FTE)(a)

%

%

%

9

%

%

Efficiency (FTE)(a)

%

%

%

%

%

Effective tax rate

%

%

%

%

%

Credit Quality

Net losses charged-off

2

%

(3

%)

9

%

Net losses charged-off as a percent of average portfolio loans and leases (annualized)

%

%

%

(1)

(4)

%

%

1

ALLL as a percent of portfolio loans and leases

%

%

%

2

1

%

%

1

ACL as a percent of portfolio loans and leases(g)

%

%

%

2

1

%

%

1

Nonperforming portfolio assets as a percent of portfolio loans and leases and OREO

%

%

%

(9)

%

%

Average Balances

Loans and leases, including held for sale

2%

5%

4%

Securities and other short-term investments

(3%)

Assets

—

(1%)

(1%)

Transaction deposits(b)

—

(1%)

(1%)

Core deposits(c)

—

(1%)

(1%)

Wholesale funding(d)

1%

(7%)

(9%)

Bancorp shareholders' equity

3%

9%

Regulatory Capital Ratios(e)(f)

CET1 capital

%

%

%

(6)

%

%

(6)

Tier 1 risk-based capital

%

%

%

%

%

Total risk-based capital

%

%

%

%

%

Leverage

%

%

%

%

%

Additional Metrics

Banking centers

—

2%

2%

ATMs

5%

5%

5%

Full-time equivalent employees

(1%)

—

—

Assets under care ($ in billions)(h)

3%

4%

4%

Assets under management ($ in billions)(h)

7%

(a)Non-GAAP measure; see discussion and reconciliation of non-GAAP measures beginning on page 26.

(b)Includes demand, interest checking, savings and money market deposits..

(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 as of June 30, 2024 were calculated pursuant to the five-year transition provision option to phase in the effects of CECL on regulatory capital.

(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.

Fifth Third Bancorp and Subsidiaries

Financial Highlights

$ in millions, except per share data

As of and For the Three Months Ended

(unaudited)

June

March

December

September

June

Income Statement Data

Net interest income

Net interest income (FTE)(a)

Noninterest income

Total revenue (FTE)(a)

Provision for credit losses

Noninterest expense

Net income

Net income available to common shareholders

Earnings Per Share Data

Net income allocated to common shareholders

Average common shares outstanding (in thousands):

Basic

Diluted

Earnings per share, basic

Earnings per share, diluted

Common Share Data

Cash dividends per common share

Book value per share

Market value per share

Common shares outstanding (in thousands)

Market capitalization

Financial Ratios

Return on average assets

%

%

%

%

%

Return on average common equity

%

%

%

%

%

Return on average tangible common equity(a)

%

%

%

%

%

Noninterest income as a percent of total revenue(a)

%

%

%

%

%

Dividend payout

%

%

%

%

%

Average total Bancorp shareholders’ equity as a percent of average assets

%

%

%

%

%

Tangible common equity(a)

%

%

%

%

%

Net interest margin (FTE)(a)

%

%

%

%

%

Efficiency (FTE)(a)

%

%

%

%

%

Effective tax rate

%

%

%

%

%