Form 8-K - Current report

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): January 21, 2025

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

Ohio

45263

(Address of Principal Executive Offices)

(Zip Code)

(800) 972-3030

(Registrant's telephone number, including area code)

Not Applicable

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

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

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

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

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

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

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 January 21, 2025, Fifth Third Bancorp issued a press release announcing its earnings release for the fourth 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.

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 January 21, 2025

Exhibit 99.2 – Fourth 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: January 21, 2025						/s/ Bryan D. Preston

						Bryan D. Preston
						Executive Vice President and Chief Financial Officer

Fifth Third Bancorp Reports Fourth Quarter 2024 Diluted Earnings Per Share of $0.85

Strong returns driven by growth in loans and fees and improvement in net interest margin

Reported results included a negative $0.05 impact from certain items on page 2



Key Financial Data							Key Highlights

$ in millions for all balance sheet and income statement items
	4Q24		3Q24		4Q23		Stability: •Resilient balance sheet delivers continued positive momentum in net interest income, up 1% sequentially, attributable to loan growth, deposit rate management, and fixed rate asset re-pricing •Net charge-off ratio decreased 2 bps sequentially Profitability: •Disciplined expense management; efficiency ratio(a) of 56.4%; adjusted efficiency ratio(a) of 54.7% improved 60 bps compared to 4Q23 •Interest-bearing liabilities costs down 38 bps from 3Q24, contributing to the 7 bps improvement in NIM Growth: •Strong fee performance driven by strategic investments. Compared to 4Q23(i): •Capital markets fees up 16% •Wealth and asset management revenue up 11% •Commercial payments revenue up 7% •Compared to 3Q24, period-end consumer and commercial loans increased 2% and 3%, respectively

Income Statement Data
Net income available to common shareholders	$582		$532		$492
Net interest income (U.S. GAAP)	1,437		1,421		1,416
Net interest income (FTE)(a)	1,443		1,427		1,423
Noninterest income	732		711		744
Noninterest expense	1,226		1,244		1,455

Per Share Data
Earnings per share, basic	$0.86		$0.78		$0.72
Earnings per share, diluted	0.85		0.78		0.72
Book value per share	26.17		27.60		25.04
Tangible book value per share(a)	18.69		20.20		17.64

Balance Sheet & Credit Quality
Average portfolio loans and leases	$117,860		$116,826		$118,858
Average deposits	167,237		167,196		169,447
Accumulated other comprehensive loss	(4,636)		(3,446)		(4,487)
Net charge-off ratio(b)	0.46	%	0.48	%	0.32	%
Nonperforming asset ratio(c)	0.71		0.62		0.59

Financial Ratios
Return on average assets	1.17	%	1.06	%	0.98	%
Return on average common equity	13.0		11.7		12.9
Return on average tangible common equity(a)	18.4		16.3		19.8
CET1 capital(d)(e)	10.51		10.75		10.29
Net interest margin(a)	2.97		2.90		2.85
Efficiency(a)	56.4		58.2		67.2
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 delivered another year of strong and consistent performance in 2024. In the fourth quarter, we achieved growth in loans, deposits, and fees, while also expanding our net interest margin and maintaining expense discipline.

The consistent investment and execution of our strategic growth priorities continues to yield strong results. In the fourth quarter, our total consumer households surpassed 2.5 million, and we opened 21 new branches in high-growth markets. Both wealth and asset management and capital markets experienced double digit revenue growth compared to the year-ago quarter. Additionally, commercial payments revenue grew 7% and continues to add new payments-led relationships.

During 2024, our strong profitability allowed us to return $1.6 billion of capital to our shareholders while increasing our capital ratios.

The risks we face are well-understood and well-contained. Our balance sheet was resilient in 2024 and is positioned to continue this strong performance in 2025 through a range of interest rate outcomes. We remain proactive in managing our credit risk. As we navigate these risks, we are committed to generating long-term, sustainable value for our shareholders as we adhere to 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 January 21, 2025


Income Statement Highlights
($ in millions, except per share data)	For the Three Months Ended			% Change
	December	September	December
	2024	2024	2023	Seq	Yr/Yr
Condensed Statements of Income
Net interest income (NII)(a)	$1,443	$1,427	$1,423	1%	1%
Provision for credit losses	179	160	55	12%	225%
Noninterest income	732	711	744	3%	(2)%
Noninterest expense	1,226	1,244	1,455	(1)%	(16)%
Income before income taxes(a)	$770	$734	$657	5%	17%

Taxable equivalent adjustment	$6	$6	$7	—	(14)%
Applicable income tax expense	144	155	120	(7)%	20%
Net income	$620	$573	$530	8%	17%
Dividends on preferred stock	38	41	38	(7)%	—
Net income available to common shareholders	$582	$532	$492	9%	18%
Earnings per share, diluted	$0.85	$0.78	$0.72	9%	18%

Fifth Third Bancorp (NASDAQ®: FITB) today reported fourth quarter 2024 net income available to common shareholders of $582 million, or $0.85 per diluted share, compared to $532 million, or $0.78 per diluted share, in the prior quarter and $492 million, or $0.72 per diluted share, in the year-ago quarter.

Diluted earnings per share impact of certain item(s) - 4Q24

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

Interchange litigation matters(f)2

$(42)

Fifth Third Foundation contribution (noninterest expense)(f)

(12)

Update to the FDIC special assessment (noninterest expense)(f)

Benefit related to the resolution of certain state income tax matters

After-tax impact(f) of certain items

$(31)

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

$(0.05)

Totals may not foot due to rounding; 1Diluted earnings per share impact reflects 681.456 million average diluted shares outstanding

2Interchange litigation matters decreased noninterest income by $51 million and increased noninterest expense by $4 million

Full year 2024 net income available to common shareholders was $2.2 billion, or $3.14 per diluted share, compared to 2023 full year net income available to common shareholders of $2.2 billion, or $3.22 per diluted share.


Net Interest Income
(FTE; $ in millions)(a)	For the Three Months Ended						% Change
	December		September		December
	2024		2024		2023		Seq	Yr/Yr
Interest Income
Interest income	$2,534		$2,675		$2,655		(5)%	(5)%
Interest expense	1,091		1,248		1,232		(13)%	(11)%
Net interest income (NII)	$1,443		$1,427		$1,423		1%	1%


Average Yield/Rate Analysis							bps Change
Yield on interest-earning assets	5.21	%	5.43	%	5.31	%	(22)	(10)
Rate paid on interest-bearing liabilities	3.00	%	3.38	%	3.34	%	(38)	(34)

Ratios
Net interest rate spread	2.21	%	2.05	%	1.97	%	16	24
Net interest margin (NIM)	2.97	%	2.90	%	2.85	%	7	12

Compared to the prior quarter, NII increased $16 million, or 1%, primarily reflecting higher loan balances and decreased cost of interest bearing deposits, partially offset by lower loan yields due to the impact of market rates on floating rate loans. These same factors drove the 7 bps increase in NIM. NIM continues to be impacted by the decision to carry elevated liquidity given the environment, with average other short-term investments (including interest-bearing cash) of $18 billion in the current quarter.

Compared to the year-ago quarter, NII increased $20 million, or 1%, and NIM increased 12 bps. This year-over-year improvement was due to the benefits from proactive deposit and wholesale funding management decreasing interest-bearing liabilities costs by 34 bps, which more than offset the combined impact of the 10 bps decrease in interest-earning assets yield and the $4.7 billion reduction in interest-earning assets.


Noninterest Income
($ in millions)	For the Three Months Ended			% Change
	December	September	December
	2024	2024	2023	Seq	Yr/Yr
Noninterest Income
Wealth and asset management revenue	$163	$163	$147	—	11%
Commercial payments revenue	155	154	145	1%	7%
Consumer banking revenue	137	143	135	(4)%	1%
Capital markets fees	123	111	106	11%	16%
Commercial banking revenue	109	93	101	17%	8%
Mortgage banking net revenue	57	50	66	14%	(14)%
Other noninterest (loss) income	(4)	(13)	28	NM	NM
Securities (losses) gains, net	(8)	10	16	NM	NM


Total noninterest income	$732	$711	$744	3%	(2)%
During the fourth quarter of 2024, certain noninterest income line items were reclassified to better align disclosures to business activities. These reclassifications resulted in three new line items to describe noninterest income, including commercial payments revenue, consumer banking revenue and capital markets fees. Commercial banking revenue and other noninterest income were also affected by the reclassifications. These reclassifications did not affect total noninterest income and were retrospectively applied to all prior periods presented.

Reported noninterest income increased $21 million, or 3%, from the prior quarter, and decreased $12 million, or 2%, 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 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
	December	September	December	% Change
	2024	2024	2023	Seq	Yr/Yr
Noninterest Income excluding certain items
Noninterest income (U.S. GAAP)	$732	$711	$744
Valuation of Visa total return swap	51	47	22

Securities (gains) losses, net	8	(10)	(16)
Noninterest income excluding certain items(a)	$791	$748	$750	6%	5%

Noninterest income excluding certain items increased $43 million, or 6%, compared to the prior quarter, and increased $41 million, or 5%, from the year-ago quarter.

Compared to the prior quarter, wealth and asset management revenue was flat, due to a decrease in brokerage fee revenue, offset by an increase in personal asset management revenue. Commercial payments revenue increased $1 million, or 1%, primarily driven by an increase in commercial deposit fees. Capital markets fees increased $12 million, or 11%, reflecting increases in syndication fees and M&A advisory fees. Commercial banking revenue increased $16 million, or 17%, primarily reflecting increases in lease syndication and remarketing. Mortgage banking net revenue increased $7 million, or 14%, primarily due to the negative MSR net valuation adjustments in the prior quarter not repeating in the fourth quarter. Other noninterest income results were driven by the recognition of tax receivable agreement revenue of $11 million in the current quarter.

Compared to the year-ago quarter, wealth and asset management revenue increased $16 million, or 11%, primarily reflecting an increase in personal asset management revenue. Commercial payments revenue increased $10 million, or 7%, primarily driven by new customer acquisition, partially offset by a decrease in commercial card revenue. Consumer banking revenue increased $2 million, or 1%, primarily driven by an increase in card and processing revenue. Capital markets fees increased $17 million, or 16%, reflecting an increase in syndication fees, partially offset by a decrease in

institutional brokerage revenue. Commercial banking revenue increased $8 million, or 8%, primarily reflecting an increase in lease syndication and remarketing, partially offset by the continued decrease in operating lease revenue. Mortgage banking net revenue decreased $9 million, or 14%, primarily reflecting decreases in servicing fees and origination fees and gains on loan sales. The decrease in other noninterest income was primarily attributable to lower tax receivable agreement revenue.


Noninterest Expense
($ in millions)	For the Three Months Ended			% Change
	December	September	December
	2024	2024	2023	Seq	Yr/Yr
Noninterest Expense
Compensation and benefits	$665	$690	$659	(4)%	1%
Technology and communications	123	121	117	2%	5%
Net occupancy expense	88	81	83	9%	6%
Equipment expense	39	38	37	3%	5%
Loan and lease expense	36	34	34	6%	6%
Marketing expense	23	26	30	(12)%	(23)
Card and processing expense	21	22	21	(5)%	—
Other noninterest expense	231	232	474	—	(51)%
Total noninterest expense	$1,226	$1,244	$1,455	(1)%	(16)%
During the fourth quarter of 2024, certain noninterest expense line items were reclassified to better align disclosures to business activities. These reclassifications resulted in the separate disclosure of loan and lease expense, which was previously a component of other noninterest expense. These reclassifications did not affect total noninterest expense and were retrospectively applied to all prior periods presented.

Reported noninterest expense decreased $18 million, or 1%, from the prior quarter, and decreased $229 million, or 16%, 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
	December	September	December
	2024	2024	2023	Seq	Yr/Yr
Noninterest Expense excluding certain item(s)
Noninterest expense (U.S. GAAP)	$1,226	$1,244	$1,455
Fifth Third Foundation contribution	(15)	—	(15)
Interchange litigation matters	(4)	(10)	—
FDIC special assessment	11	—	(224)
Restructuring severance expense	—	(9)	(5)

Noninterest expense excluding certain item(s)(a)	$1,218	$1,225	$1,211	(1)%	1%

Compared to the prior quarter, noninterest expense excluding certain items decreased $7 million, or 1%, primarily reflecting a decrease in compensation and benefits expense, offset by an increase in net occupancy expense. Noninterest expense in the current quarter included a $7 million benefit related to the mark-to-market impact of non-qualified deferred compensation compared to a $10 million expense 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 $7 million, or 1%, primarily reflecting increases in compensation and benefits expense as well as technology and communications expense, partially offset by a decrease in marketing expense. The year-ago quarter included a $13 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.


Average Interest-Earning Assets
($ in millions)	For the Three Months Ended			% Change
	December	September	December
	2024	2024	2023	Seq	Yr/Yr
Average Portfolio Loans and Leases
Commercial loans and leases:
Commercial and industrial loans	$51,567	$51,615	$54,633	—	(6)%
Commercial mortgage loans	11,792	11,488	11,338	3%	4%
Commercial construction loans	5,702	5,981	5,727	(5)%	—
Commercial leases	2,902	2,685	2,535	8%	14%
Total commercial loans and leases	$71,963	$71,769	$74,233	—	(3)%
Consumer loans:
Residential mortgage loans	$17,322	$17,031	$17,129	2%	1%
Home equity	4,125	4,018	3,905	3%	6%
Indirect secured consumer loans	16,100	15,680	15,129	3%	6%
Credit card	1,668	1,708	1,829	(2)%	(9)%
Solar energy installation loans	4,137	3,990	3,630	4%	14%
Other consumer loans	2,545	2,630	3,003	(3)%	(15)%
Total consumer loans	$45,897	$45,057	$44,625	2%	3%
Total average portfolio loans and leases	$117,860	$116,826	$118,858	1%	(1)%

Average Loans and Leases Held for Sale
Commercial loans and leases held for sale	$48	$16	$72	200%	(33)%
Consumer loans held for sale	584	573	379	2%	54%
Total average loans and leases held for sale	$632	$589	$451	7%	40%

Total average loans and leases	$118,492	$117,415	$119,309	1%	(1)%

Securities (taxable and tax-exempt)	$56,702	$56,707	$57,351	—	(1)%
Other short-term investments	18,319	21,714	21,506	(16)%	(15)%
Total average interest-earning assets	$193,513	$195,836	$198,166	(1)%	(2)%

Compared to the prior quarter, total average portfolio loans and leases increased 1%. Average commercial portfolio loans and leases were stable, primarily reflecting increases in commercial mortgage loans and commercial leases, offset by a decrease in commercial construction loans. Average consumer portfolio loans increased 2%, primarily reflecting increases in indirect secured consumer loans, residential mortgage loans, and solar energy installation loans, partially offset by a decrease in other consumer loans.

Compared to the year-ago quarter, total average portfolio loans and leases decreased 1%. Average commercial portfolio loans and leases decreased 3%, primarily reflecting a decrease in C&I loans. Average consumer portfolio loans increased 3%, primarily reflecting increases in indirect secured consumer loans, solar energy installation loans, and home equity balances, partially offset by decreases in other consumer loans and credit card balances.

Average securities (taxable and tax-exempt; amortized cost) of $57 billion in the current quarter were stable compared to the prior quarter and decreased 1% compared to the year-ago quarter. Average other short-term investments (including interest-bearing cash) of $18 billion in the current quarter decreased 16% compared to the prior quarter and decreased 15% compared to the year-ago quarter.

Period-end commercial portfolio loans and leases of $73 billion increased 3% compared to the prior quarter, primarily reflecting increases in C&I loans and commercial mortgage loans, partially offset by a decrease in commercial construction loans. Compared to the year-ago quarter, period-end commercial portfolio loans and leases increased 1%, primarily due to increases in commercial mortgage loans and commercial leases, partially offset by a decrease in C&I loans.

Period-end consumer portfolio loans of $46 billion increased 2% compared to the prior quarter, primarily reflecting increases in residential mortgage loans and indirect secured consumer loans. Compared to the year-ago quarter, period-end consumer portfolio loans increased 5%, primarily driven by increases in indirect secured consumer loans, residential mortgage loans, and solar energy installation loans, partially offset by a decrease in other consumer loans.

Total period-end securities (taxable and tax-exempt; amortized cost) of $57 billion in the current quarter were stable compared to the prior quarter and decreased 1% compared to the year-ago quarter. Period-end other short-term investments of approximately $17 billion decreased 21% compared to the prior quarter, and decreased 22% compared to the year-ago quarter.


Average Deposits
	($ in millions)	For the Three Months Ended			% Change
		December	September	December
		2024	2024	2023	Seq	Yr/Yr
	Average Deposits
	Demand	$40,137	$40,020	$43,396	—	(8)%
	Interest checking	59,277	58,441	57,114	1%	4%
	Savings	17,257	17,272	18,252	—	(5)%
	Money market	37,279	37,257	34,292	—	9%
	Foreign office(g)	164	164	178	—	(8)%
	Total transaction deposits	$154,114	$153,154	$153,232	1%	1%
	CDs $250,000 or less	10,592	10,543	10,556	—	—
	Total core deposits	$164,706	$163,697	$163,788	1%	1%
	CDs over $250,000	2,531	3,499	5,659	(28)%	(55)%

	Total average deposits	$167,237	$167,196	$169,447	—	(1)%
	CDs over $250,000 includes $1.5BN, $2.6BN, and $4.8BN of retail brokered certificates of deposit which are fully covered by FDIC insurance for the three months ended 12/31/24, 9/30/24, and 12/31/23, respectively.

Compared to the prior quarter, total average deposits were stable, primarily reflecting increases in interest checking balances and demand deposits, offset by a decline in CDs over $250,000 which consists primarily of retail brokered deposits. Average demand deposits represented 24% of total core deposits in the current quarter. Period-end total deposits decreased 1%.

Compared to the year-ago quarter, total average deposits decreased 1%, primarily due to decreases in demand deposits, the aforementioned decrease in retail brokered deposits, and savings balances, partially offset by increases in money market deposits and interest checking balances. Period-end total deposits decreased 1%.

The period-end portfolio loan-to-core deposit ratio was 73% in the current quarter, compared to 71% in the prior quarter and 72% in the year-ago quarter.


Average Wholesale Funding
	($ in millions)	For the Three Months Ended			% Change
		December	September	December
		2024	2024	2023	Seq	Yr/Yr
	Average Wholesale Funding
	CDs over $250,000	$2,531	$3,499	$5,659	(28)%	(55)%

	Federal funds purchased	223	176	191	27%	17%
	Securities sold under repurchase agreements	313	396	350	(21)%	(11)%
	FHLB advances	1,567	2,576	3,293	(39)%	(52)%
	Derivative collateral and other secured borrowings	76	52	34	46%	124%
	Long-term debt	15,492	16,716	16,588	(7)%	(7)%
	Total average wholesale funding	$20,202	$23,415	$26,115	(14)%	(23)%
	CDs over $250,000 includes $1.5BN, $2.6BN, and $4.8BN of retail brokered certificates of deposit which are fully covered by FDIC insurance for the three months ended 12/31/24, 9/30/24, and 12/31/23, respectively.

Compared to the prior quarter, average wholesale funding decreased 14%, primarily driven by decreases in long-term debt, FHLB advances, and CDs over $250,000. The decrease in CDs over $250,000 was primarily driven by a decrease in retail brokered deposits. The same items drove the 23% decrease from the year-ago quarter.


Credit Quality Summary
($ in millions)	As of and For the Three Months Ended
	December		September		June		March		December
	2024		2024		2024		2024		2023

Total nonaccrual portfolio loans and leases (NPLs)	$823		$686		$606		$708		$649
Repossessed property	9		11		9		8		10
OREO	21		28		28		27		29
Total nonperforming portfolio loans and leases and OREO (NPAs)	$853		$725		$643		$743		$688

NPL ratio(h)	0.69	%	0.59	%	0.52	%	0.61	%	0.55	%
NPA ratio(c)	0.71	%	0.62	%	0.55	%	0.64	%	0.59	%

Portfolio loans and leases 30-89 days past due (accrual)	$303		$283		$302		$342		$359
Portfolio loans and leases 90 days past due (accrual)	32		40		33		35		36

30-89 days past due as a % of portfolio loans and leases	0.25	%	0.24	%	0.26	%	0.29	%	0.31	%
90 days past due as a % of portfolio loans and leases	0.03	%	0.03	%	0.03	%	0.03	%	0.03	%

Allowance for loan and lease losses (ALLL), beginning	$2,305		$2,288		$2,318		$2,322		$2,340
Total net losses charged-off	(136)		(142)		(144)		(110)		(96)
Provision for loan and lease losses	183		159		114		106		78
ALLL, ending	$2,352		$2,305		$2,288		$2,318		$2,322

Reserve for unfunded commitments, beginning	$138		$137		$154		$166		$189
(Benefit from) provision for the reserve for unfunded commitments	(4)		1		(17)		(12)		(23)
Reserve for unfunded commitments, ending	$134		$138		$137		$154		$166

Total allowance for credit losses (ACL)	$2,486		$2,443		$2,425		$2,472		$2,488

ACL ratios:
As a % of portfolio loans and leases	2.08	%	2.09	%	2.08	%	2.12	%	2.12	%
As a % of nonperforming portfolio loans and leases	302	%	356	%	400	%	349	%	383	%
As a % of nonperforming portfolio assets	291	%	337	%	377	%	333	%	362	%

ALLL as a % of portfolio loans and leases	1.96	%	1.98	%	1.96	%	1.99	%	1.98	%

Total losses charged-off	$(175)		$(183)		$(182)		$(146)		$(133)
Total recoveries of losses previously charged-off	39		41		38		36		37
Total net losses charged-off	$(136)		$(142)		$(144)		$(110)		$(96)

Net charge-off ratio (NCO ratio)(b)	0.46	%	0.48	%	0.49	%	0.38	%	0.32	%
Commercial NCO ratio	0.32	%	0.40	%	0.45	%	0.19	%	0.13	%
Consumer NCO ratio	0.68	%	0.62	%	0.57	%	0.67	%	0.64	%

The provision for credit losses totaled $179 million in the current quarter. The ACL ratio was 2.08% of total portfolio loans and leases at quarter end, compared with 2.09% for the prior quarter end and 2.12% for the year-ago quarter end. In the current quarter, the ACL was 302% of nonperforming portfolio loans and leases and 291% of nonperforming portfolio assets.

Net charge-offs were $136 million in the current quarter, resulting in an NCO ratio of 0.46%. Compared to the prior quarter, net charge-offs decreased $6 million and the NCO ratio decreased 2 bps. Commercial net charge-offs were $57 million, resulting in a commercial NCO ratio of 0.32%, which decreased 8 bps compared to the prior quarter. Consumer net charge-offs were $79 million, resulting in a consumer NCO ratio of 0.68%, which increased 6 bps compared to the prior quarter.

Compared to the year-ago quarter, net charge-offs increased $40 million and the NCO ratio increased 14 bps. The commercial NCO ratio increased 19 bps compared to the prior year, and the consumer NCO ratio increased 4 bps compared to the prior year.

Nonperforming portfolio loans and leases were $823 million in the current quarter, with the resulting NPL ratio of 0.69%. Compared to the prior quarter, NPLs increased $137 million with the NPL ratio increasing 10 bps. Compared to the year-ago quarter, NPLs increased $174 million with the NPL ratio increasing 14 bps.

Nonperforming portfolio assets were $853 million in the current quarter, with the resulting NPA ratio of 0.71%. Compared to the prior quarter, NPAs increased $128 million with the NPA ratio increasing 9 bps. Compared to the year-ago quarter, NPAs increased $165 million with the NPA ratio increasing 12 bps.


Capital Position
	As of and For the Three Months Ended
	December		September		June		March		December
	2024		2024		2024		2024		2023
Capital Position
Average total Bancorp shareholders' equity as a % of average assets	9.40	%	9.47	%	8.80	%	8.78	%	8.04	%
Tangible equity(a)	9.02	%	8.99	%	8.91	%	8.75	%	8.65	%
Tangible common equity (excluding AOCI)(a)	8.03	%	8.00	%	7.92	%	7.77	%	7.67	%
Tangible common equity (including AOCI)(a)	6.02	%	6.52	%	5.80	%	5.67	%	5.73	%

Regulatory Capital Ratios(d)(e)
CET1 capital	10.51	%	10.75	%	10.62	%	10.47	%	10.29	%
Tier 1 risk-based capital	11.80	%	12.07	%	11.93	%	11.77	%	11.59	%
Total risk-based capital	13.80	%	14.13	%	13.95	%	13.81	%	13.72	%
Leverage	9.22	%	9.11	%	9.07	%	8.94	%	8.73	%

CET1 capital ratio of 10.51% decreased 24 bps sequentially due to loan growth during the quarter driving an increase in risk-weighted assets. During the fourth quarter of 2024, Fifth Third repurchased $300 million of its common stock, which reduced shares outstanding by approximately 6.7 million at quarter end.

Tax Rate

The effective tax rate for the quarter was 18.8% compared with 21.3% in the prior quarter and 18.4% in the year-ago quarter. The tax rate in the fourth quarter reflects a favorable adjustment of $15 million associated with statutes of limitations expiration.

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 27.

(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.

(i)During the fourth quarter of 2024, certain noninterest income line items were reclassified to better align disclosures to business activities. These reclassifications resulted in three new line items to describe noninterest income, including commercial payments revenue, consumer banking revenue and capital markets fees. Commercial banking revenue and other noninterest income were also affected by the reclassifications. These reclassifications did not affect total noninterest income and were retrospectively applied to all prior periods presented.

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.

# # #

Quarterly Financial Review for December 31, 2024

Table of Contents




			Financial Highlights			14-15
			Consolidated Statements of Income			16-17
			Consolidated Balance Sheets			18-19
			Consolidated Statements of Changes in Equity			20
			Average Balance Sheets and Yield/Rate Analysis			21-22
			Summary of Loans and Leases			23
			Regulatory Capital			24
			Summary of Credit Loss Experience			25
			Asset Quality			26
			Non-GAAP Reconciliation			27-29
			Segment Presentation			30


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)		December		September		December						December		December
		2024		2024		2023		Seq		Yr/Yr		2024		2023		Yr/Yr
Income Statement Data
Net interest income		$1,437		$1,421		$1,416		1%		1%		$5,630		$5,827		(3%)
Net interest income (FTE)(a)		1,443		1,427		1,423		1%		1%		5,654		5,852		(3%)
Noninterest income		732		711		744		3%		(2%)		2,849		2,881		(1%)
	Total revenue (FTE)(a)	2,175		2,138		2,167		2%		—		8,503		8,733		(3%)
Provision for credit losses		179		160		55		12%		225%		530		515		3%
Noninterest expense		1,226		1,244		1,455		(1%)		(16%)		5,033		5,205		(3%)
Net income		620		573		530		8%		17%		2,314		2,349		(1%)
Net income available to common shareholders		582		532		492		9%		18%		2,155		2,212		(3%)

Earnings Per Share Data
Net income allocated to common shareholders		$582		$532		$492		9%		18%		$2,155		$2,212		(3%)
Average common shares outstanding (in thousands):
	Basic	675,307		680,895		684,413		(1%)		(1%)		682,161		684,172		—
	Diluted	681,456		686,109		687,729		(1%)		(1%)		687,301		687,678		—
Earnings per share, basic		$0.86		$0.78		$0.72		10%		19%		$3.16		$3.23		(2%)
Earnings per share, diluted		0.85		0.78		0.72		9%		18%		3.14		3.22		(2%)

Common Share Data
Cash dividends per common share		$0.37		$0.37		$0.35		—		6%		$1.44		$1.36		6%
Book value per share		26.17		27.60		25.04		(5%)		5%		26.17		25.04		5%
Market value per share		42.28		42.84		34.49		(1%)		23%		42.28		34.49		23%
Common shares outstanding (in thousands)		669,854		676,269		681,125		(1%)		(2%)		669,854		681,125		(2%)
Market capitalization		$28,321		$28,971		$23,492		(2%)		21%		$28,321		$23,492		21%

Financial Ratios
Return on average assets		1.17	%	1.06	%	0.98	%	11		19		1.09	%	1.13	%	(4)
Return on average common equity		13.0	%	11.7	%	12.9	%	130		10		12.5	%	14.2	%	(170)
Return on average tangible common equity(a)		18.4	%	16.3	%	19.8	%	210		(140)		17.8	%	21.3	%	(350)
Noninterest income as a percent of total revenue(a)		34	%	33	%	34	%	100		—		34	%	33	%	100
Dividend payout		43.0	%	47.4	%	48.6	%	(440)		(560)		45.6	%	42.1	%	350
Average total Bancorp shareholders’ equity as a percent of average assets		9.40	%	9.47	%	8.04	%	(7)		136		9.12	%	8.49	%	63
Tangible common equity(a)		8.03	%	8.00	%	7.67	%	3		36		8.03	%	7.67	%	36
Net interest margin (FTE)(a)		2.97	%	2.90	%	2.85	%	7		12		2.90	%	3.05	%	(15)
Efficiency (FTE)(a)		56.4	%	58.2	%	67.2	%	(180)		NM		59.2	%	59.6	%	(40)
Effective tax rate		18.8	%	21.3	%	18.4	%	(250)		40		20.6	%	21.4	%	(80)

Credit Quality
Net losses charged-off		$136		$142		$96		(4	%)	42	%	$532		$388		37	%
Net losses charged-off as a percent of average portfolio loans and leases (annualized)		0.46	%	0.48	%	0.32	%	(2)		14		0.45	%	0.32	%	13
ALLL as a percent of portfolio loans and leases		1.96	%	1.98	%	1.98	%	(2)		(2)		1.96	%	1.98	%	(2)
ACL as a percent of portfolio loans and leases(g)		2.08	%	2.09	%	2.12	%	(1)		(4)		2.08	%	2.12	%	(4)
Nonperforming portfolio assets as a percent of portfolio loans and leases and OREO		0.71	%	0.62	%	0.59	%	9		12		0.71	%	0.59	%	12

Average Balances
Loans and leases, including held for sale		$118,492		$117,415		$119,309		1%		(1%)		$117,724		$122,282		(4%)
Securities and other short-term investments		75,021		78,421		78,857		(4%)		(5%)		77,076		69,461		11%
Assets		211,709		213,838		214,057		(1%)		(1%)		212,806		208,426		2%
Transaction deposits(b)		154,114		153,154		153,232		1%		1%		152,830		150,546		2%
Core deposits(c)		164,706		163,697		163,788		1%		1%		163,367		158,844		3%
Wholesale funding(d)		20,202		23,415		26,115		(14%)		(23%)		23,135		24,943		(7%)
Bancorp shareholders' equity		19,893		20,251		17,201		(2%)		16%		19,398		17,704		10%

Regulatory Capital Ratios(e)(f)
CET1 capital		10.51	%	10.75	%	10.29	%	(24)		22		10.51	%	10.29	%	22
Tier 1 risk-based capital		11.80	%	12.07	%	11.59	%	(27)		21		11.80	%	11.59	%	21
Total risk-based capital		13.80	%	14.13	%	13.72	%	(33)		8		13.80	%	13.72	%	8
Leverage		9.22	%	9.11	%	8.73	%	11		49		9.22	%	8.73	%	49

Additional Metrics
Banking centers		1,089		1,072		1,088		2%		—		1,089		1,088		—
ATMs		2,080		2,060		2,104		1%		(1%)		2,080		2,104		(1%)
Full-time equivalent employees		18,616		18,579		18,724		—		(1%)		18,616		18,724		(1%)
Assets under care ($ in billions)(h)		$634		$635		$574		—		10%		$634		$574		10%
Assets under management ($ in billions)(h)		69		69		59		—		17%		69		59		17%

(a)Non-GAAP measure; see discussion and reconciliation of non-GAAP measures beginning on page 27.

(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.


Fifth Third Bancorp and Subsidiaries
Financial Highlights
$ in millions, except per share data		As of and For the Three Months Ended
(unaudited)		December		September		June		March		December
		2024		2024		2024		2024		2023
Income Statement Data
Net interest income		$1,437		$1,421		$1,387		$1,384		$1,416
Net interest income (FTE)(a)		1,443		1,427		1,393		1,390		1,423
Noninterest income		732		711		695		710		744
	Total revenue (FTE)(a)	2,175		2,138		2,088		2,100		2,167
Provision for credit losses		179		160		97		94		55
Noninterest expense		1,226		1,244		1,221		1,342		1,455
Net income		620		573		601		520		530
Net income available to common shareholders		582		532		561		480		492

Earnings Per Share Data
Net income allocated to common shareholders		$582		$532		$561		$480		$492
Average common shares outstanding (in thousands):
	Basic	675,307		680,895		686,781		685,750		684,413
	Diluted	681,456		686,109		691,083		690,634		687,729
Earnings per share, basic		$0.86		$0.78		$0.82		$0.70		$0.72
Earnings per share, diluted		0.85		0.78		0.81		0.70		0.72

Common Share Data
Cash dividends per common share		$0.37		$0.37		$0.35		$0.35		$0.35
Book value per share		26.17		27.60		25.13		24.72		25.04
Market value per share		42.28		42.84		36.49		37.21		34.49
Common shares outstanding (in thousands)		669,854		676,269		680,789		683,812		681,125
Market capitalization		$28,321		$28,971		$24,842		$25,445		$23,492

Financial Ratios
Return on average assets		1.17	%	1.06	%	1.14	%	0.98	%	0.98	%
Return on average common equity		13.0	%	11.7	%	13.6	%	11.6	%	12.9	%
Return on average tangible common equity(a)		18.4	%	16.3	%	19.8	%	17.0	%	19.8	%
Noninterest income as a percent of total revenue(a)		34	%	33	%	33	%	34	%	34	%
Dividend payout		43.0	%	47.4	%	42.7	%	50.0	%	48.6	%
Average total Bancorp shareholders’ equity as a percent of average assets		9.40	%	9.47	%	8.80	%	8.78	%	8.04	%
Tangible common equity(a)		8.03	%	8.00	%	7.92	%	7.77	%	7.67	%
Net interest margin (FTE)(a)		2.97	%	2.90	%	2.88	%	2.86	%	2.85	%
Efficiency (FTE)(a)		56.4	%	58.2	%	58.5	%	63.9	%	67.2	%
Effective tax rate		18.8	%	21.3	%	21.3	%	21.1	%	18.4	%

Credit Quality
Net losses charged-off		$136		$142		$144		$110		$96
Net losses charged-off as a percent of average portfolio loans and leases (annualized)		0.46	%	0.48	%	0.49	%	0.38	%	0.32	%
ALLL as a percent of portfolio loans and leases		1.96	%	1.98	%	1.96	%	1.99	%	1.98	%
ACL as a percent of portfolio loans and leases(g)		2.08	%	2.09	%	2.08	%	2.12	%	2.12	%
Nonperforming portfolio assets as a percent of portfolio loans and leases and OREO		0.71	%	0.62	%	0.55	%	0.64	%	0.59	%

Average Balances
Loans and leases, including held for sale		$118,492		$117,415		$117,283		$117,699		$119,309
Securities and other short-term investments		75,021		78,421		77,216		77,650		78,857
Assets		211,709		213,838		212,475		213,203		214,057
Transaction deposits(b)		154,114		153,154		151,680		152,357		153,232
Core deposits(c)		164,706		163,697		162,447		162,601		163,788
Wholesale funding(d)		20,202		23,415		24,180		24,771		26,115
Bancorp shareholders’ equity		19,893		20,251		18,707		18,727		17,201

Regulatory Capital Ratios(e)(f)
CET1 capital		10.51	%	10.75	%	10.62	%	10.47	%	10.29	%
Tier 1 risk-based capital		11.80	%	12.07	%	11.93	%	11.77	%	11.59	%
Total risk-based capital		13.80	%	14.13	%	13.95	%	13.81	%	13.72	%
Leverage		9.22	%	9.11	%	9.07	%	8.94	%	8.73	%

Additional Metrics
Banking centers		1,089		1,072		1,070		1,070		1,088
ATMs		2,080		2,060		2,067		2,082		2,104
Full-time equivalent employees		18,616		18,579		18,607		18,657		18,724
Assets under care ($ in billions)(h)		$634		$635		$631		$634		$574
Assets under management ($ in billions)(h)		69		69		65		62		59

(a)Non-GAAP measure; see discussion and reconciliation of non-GAAP measures beginning on page 27.

(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.


Fifth Third Bancorp and Subsidiaries
Consolidated Statements of Income
$ in millions	For the Three Months Ended			% Change		Year to Date		% Change
(unaudited)	December	September	December			December	December
	2024	2024	2023	Seq	Yr/Yr	2024	2023	Yr/Yr
Interest Income
Interest and fees on loans and leases	$1,836	$1,910	$1,889	(4%)	(3%)	$7,477	$7,334	2%
Interest on securities	464	461	451	1%	3%	1,839	1,770	4%
Interest on other short-term investments	228	298	308	(23%)	(26%)	1,110	656	69%
Total interest income	2,528	2,669	2,648	(5%)	(5%)	10,426	9,760	7%

Interest Expense
Interest on deposits	856	968	952	(12%)	(10%)	3,736	2,929	28%
Interest on federal funds purchased	3	2	3	50%	—	11	15	(27%)
Interest on other short-term borrowings	22	40	49	(45%)	(55%)	157	247	(36%)
Interest on long-term debt	210	238	228	(12%)	(8%)	892	742	20%
Total interest expense	1,091	1,248	1,232	(13%)	(11%)	4,796	3,933	22%

Net Interest Income	1,437	1,421	1,416	1%	1%	5,630	5,827	(3%)

Provision for credit losses	179	160	55	12%	225%	530	515	3%
Net Interest Income After Provision for Credit Losses	1,258	1,261	1,361	—	(8%)	5,100	5,312	(4%)

Noninterest Income(a)
Wealth and asset management revenue	163	163	147	—	11%	647	581	11%
Commercial payments revenue	155	154	145	1%	7%	608	564	8%
Consumer banking revenue	137	143	135	(4%)	1%	555	546	2%
Capital markets fees	123	111	106	11%	16%	424	422	—
Commercial banking revenue	109	93	101	17%	8%	377	409	(8%)
Mortgage banking net revenue	57	50	66	14%	(14%)	211	250	(16%)
Other noninterest income (loss)	(4)	(13)	28	NM	NM	12	91	(87%)
Securities gains (losses), net	(8)	10	16	NM	NM	15	18	(17%)

Total noninterest income	732	711	744	3%	(2%)	2,849	2,881	(1%)

Noninterest Expense(b)
Compensation and benefits	665	690	659	(4%)	1%	2,763	2,694	3%
Technology and communications	123	121	117	2%	5%	474	464	2%
Net occupancy expense	88	81	83	9%	6%	339	331	2%
Equipment expense	39	38	37	3%	5%	153	148	3%
Loan and lease expense	36	34	34	6%	6%	132	133	(1%)
Marketing expense	23	26	30	(12%)	(23%)	115	126	(9%)
Card and processing expense	21	22	21	(5%)	—	84	84	—
Other noninterest expense	231	232	474	—	(51%)	973	1,225	(21%)
Total noninterest expense	1,226	1,244	1,455	(1%)	(16%)	5,033	5,205	(3%)
Income Before Income Taxes	764	728	650	5%	18%	2,916	2,988	(2%)
Applicable income tax expense	144	155	120	(7%)	20%	602	639	(6%)
Net Income	620	573	530	8%	17%	2,314	2,349	(1%)
Dividends on preferred stock	38	41	38	(7%)	—	159	137	16%
Net Income Available to Common Shareholders	$582	$532	$492	9%	18%	$2,155	$2,212	(3%)

(a)During the fourth quarter of 2024, certain noninterest income line items were reclassified to better align disclosures to business activities. These reclassifications resulted in three new line items to describe noninterest income, including commercial payments revenue, consumer banking revenue and capital markets fees. Commercial banking revenue and other noninterest income were also affected by the reclassifications. These reclassifications did not affect total noninterest income and were retrospectively applied to all prior periods presented.

(b)During the fourth quarter of 2024, certain noninterest expense line items were reclassified to better align disclosures to business activities. These reclassifications resulted in the separate disclosure of loan and lease expense, which was previously a component of other noninterest expense. These reclassifications did not affect total noninterest expense and were retrospectively applied to all prior periods presented.


Fifth Third Bancorp and Subsidiaries
Consolidated Statements of Income
$ in millions	For the Three Months Ended
(unaudited)	December	September	June	March	December
	2024	2024	2024	2024	2023
Interest Income
Interest and fees on loans and leases	$1,836	$1,910	$1,871	$1,859	$1,889
Interest on securities	464	461	458	455	451
Interest on other short-term investments	228	298	291	294	308
Total interest income	2,528	2,669	2,620	2,608	2,648

Interest Expense
Interest on deposits	856	968	958	954	952
Interest on federal funds purchased	3	2	3	3	3
Interest on other short-term borrowings	22	40	48	47	49
Interest on long-term debt	210	238	224	220	228
Total interest expense	1,091	1,248	1,233	1,224	1,232

Net Interest Income	1,437	1,421	1,387	1,384	1,416

Provision for credit losses	179	160	97	94	55
Net Interest Income After Provision for Credit Losses	1,258	1,261	1,290	1,290	1,361

Noninterest Income(a)
Wealth and asset management revenue	163	163	159	161	147
Commercial payments revenue	155	154	154	145	145
Consumer banking revenue	137	143	139	135	135
Capital markets fees	123	111	93	97	106
Commercial banking revenue	109	93	90	85	101
Mortgage banking net revenue	57	50	50	54	66
Other noninterest (loss) income	(4)	(13)	7	23	28
Securities (losses) gains, net	(8)	10	3	10	16

Total noninterest income	732	711	695	710	744

Noninterest Expense(b)
Compensation and benefits	665	690	656	753	659
Technology and communications	123	121	114	117	117
Net occupancy expense	88	81	83	87	83
Equipment expense	39	38	38	37	37
Loan and lease expense	36	34	33	29	34
Marketing expense	23	26	34	32	30
Card and processing expense	21	22	21	20	21
Other noninterest expense	231	232	242	267	474
Total noninterest expense	1,226	1,244	1,221	1,342	1,455
Income Before Income Taxes	764	728	764	658	650
Applicable income tax expense	144	155	163	138	120
Net Income	620	573	601	520	530
Dividends on preferred stock	38	41	40	40	38
Net Income Available to Common Shareholders	$582	$532	$561	$480	$492


Fifth Third Bancorp and Subsidiaries
Consolidated Balance Sheets
$ in millions, except per share data	As of			% Change
(unaudited)	December	September	December
	2024	2024	2023	Seq		Yr/Yr
Assets
Cash and due from banks	$3,014	$3,215	$3,142	(6%)		(4%)
Other short-term investments	17,120	21,729	22,082	(21%)		(22%)
Available-for-sale debt and other securities(a)	39,547	40,396	50,419	(2%)		(22%)
Held-to-maturity securities(b)	11,278	11,358	2	(1%)		NM
Trading debt securities	1,185	1,176	899	1%		32%
Equity securities	341	428	613	(20%)		(44%)
Loans and leases held for sale	640	612	378	5%		69%
Portfolio loans and leases:
Commercial and industrial loans	52,271	50,916	53,270	3%		(2%)
Commercial mortgage loans	12,246	11,394	11,276	7%		9%
Commercial construction loans	5,588	5,947	5,621	(6%)		(1%)
Commercial leases	3,188	2,873	2,579	11%		24%
Total commercial loans and leases	73,293	71,130	72,746	3%		1%
Residential mortgage loans	17,543	17,166	17,026	2%		3%
Home equity	4,188	4,074	3,916	3%		7%
Indirect secured consumer loans	16,313	15,942	14,965	2%		9%
Credit card	1,734	1,703	1,865	2%		(7%)
Solar energy installation loans	4,202	4,078	3,728	3%		13%
Other consumer loans	2,518	2,575	2,988	(2%)		(16%)
Total consumer loans	46,498	45,538	44,488	2%		5%
Portfolio loans and leases	119,791	116,668	117,234	3%		2%
Allowance for loan and lease losses	(2,352)	(2,305)	(2,322)	2%		1%
Portfolio loans and leases, net	117,439	114,363	114,912	3%		2%
Bank premises and equipment	2,475	2,425	2,349	2%		5%
Operating lease equipment	319	357	459	(11%)		(31%)
Goodwill	4,918	4,918	4,919	—		—
Intangible assets	90	98	125	(8%)		(28%)
Servicing rights	1,704	1,656	1,737	3%		(2%)
Other assets	12,857	11,587	12,538	11%		3%
Total Assets	$212,927	$214,318	$214,574	(1%)		(1%)

Liabilities
Deposits:
Demand	$41,038	$41,393	$43,146	(1%)		(5%)
Interest checking	59,159	58,572	57,257	1%		3%
Savings	17,147	16,990	18,215	1%		(6%)
Money market	36,605	37,482	34,374	(2%)		6%
Foreign office	147	155	162	(5%)		(9%)
CDs $250,000 or less	10,798	10,480	10,552	3%		2%
CDs over $250,000	2,358	3,268	5,206	(28%)		(55%)
Total deposits	167,252	168,340	168,912	(1%)		(1%)
Federal funds purchased	204	169	193	21%		6%
Other short-term borrowings	4,450	1,424	2,861	213%		56%
Accrued taxes, interest and expenses	2,137	2,034	2,195	5%		(3%)
Other liabilities	4,902	4,471	4,861	10%		1%
Long-term debt	14,337	17,096	16,380	(16%)		(12%)
Total Liabilities	193,282	193,534	195,402	—		(1%)
Equity
Common stock(c)	2,051	2,051	2,051	—		—
Preferred stock	2,116	2,116	2,116	—		—
Capital surplus	3,804	3,784	3,757	1%		1%
Retained earnings	24,150	23,820	22,997	1%		5%
Accumulated other comprehensive loss	(4,636)	(3,446)	(4,487)	35%		3%
Treasury stock	(7,840)	(7,541)	(7,262)	4%		8%
Total Equity	19,645	20,784	19,172	(5%)		2%
Total Liabilities and Equity	$212,927	$214,318	$214,574	(1%)		(1%)
(a) Amortized cost	$43,878	$43,754	$55,789	—		(21%)
(b) Market values	10,965	11,554	2	(5	%)	NM
(c) Common shares, stated value $2.22 per share (in thousands):
Authorized	2,000,000	2,000,000	2,000,000	—		—
Outstanding, excluding treasury	669,854	676,269	681,125	—		—
Treasury	254,039	247,624	242,768	3	%	—


Fifth Third Bancorp and Subsidiaries
Consolidated Balance Sheets
$ in millions, except per share data	As of
(unaudited)	December	September	June	March	December
	2024	2024	2024	2024	2023
Assets
Cash and due from banks	$3,014	$3,215	$2,837	$2,796	$3,142
Other short-term investments	17,120	21,729	21,085	22,840	22,082
Available-for-sale debt and other securities(a)	39,547	40,396	38,986	38,791	50,419
Held-to-maturity securities(b)	11,278	11,358	11,443	11,520	2
Trading debt securities	1,185	1,176	1,132	1,151	899
Equity securities	341	428	476	380	613
Loans and leases held for sale	640	612	537	339	378
Portfolio loans and leases:
Commercial and industrial loans	52,271	50,916	51,840	52,209	53,270
Commercial mortgage loans	12,246	11,394	11,429	11,346	11,276
Commercial construction loans	5,588	5,947	5,806	5,789	5,621
Commercial leases	3,188	2,873	2,708	2,572	2,579
Total commercial loans and leases	73,293	71,130	71,783	71,916	72,746
Residential mortgage loans	17,543	17,166	17,040	16,995	17,026
Home equity	4,188	4,074	3,969	3,883	3,916
Indirect secured consumer loans	16,313	15,942	15,442	15,306	14,965
Credit card	1,734	1,703	1,733	1,737	1,865
Solar energy installation loans	4,202	4,078	3,951	3,871	3,728
Other consumer loans	2,518	2,575	2,661	2,777	2,988
Total consumer loans	46,498	45,538	44,796	44,569	44,488
Portfolio loans and leases	119,791	116,668	116,579	116,485	117,234
Allowance for loan and lease losses	(2,352)	(2,305)	(2,288)	(2,318)	(2,322)
Portfolio loans and leases, net	117,439	114,363	114,291	114,167	114,912
Bank premises and equipment	2,475	2,425	2,389	2,376	2,349
Operating lease equipment	319	357	392	427	459
Goodwill	4,918	4,918	4,918	4,918	4,919
Intangible assets	90	98	107	115	125
Servicing rights	1,704	1,656	1,731	1,756	1,737
Other assets	12,857	11,587	12,938	12,930	12,538
Total Assets	$212,927	$214,318	$213,262	$214,506	$214,574

Liabilities
Deposits:
Demand	$41,038	$41,393	$40,617	$41,849	$43,146
Interest checking	59,159	58,572	57,390	58,809	57,257
Savings	17,147	16,990	17,419	18,229	18,215
Money market	36,605	37,482	36,259	35,025	34,374
Foreign office	147	155	119	129	162
CDs $250,000 or less	10,798	10,480	10,882	10,337	10,552
CDs over $250,000	2,358	3,268	4,082	5,209	5,206
Total deposits	167,252	168,340	166,768	169,587	168,912
Federal funds purchased	204	169	194	247	193
Other short-term borrowings	4,450	1,424	3,370	2,866	2,861
Accrued taxes, interest and expenses	2,137	2,034	2,040	1,965	2,195
Other liabilities	4,902	4,471	5,371	5,379	4,861
Long-term debt	14,337	17,096	16,293	15,444	16,380
Total Liabilities	193,282	193,534	194,036	195,488	195,402
Equity
Common stock(c)	2,051	2,051	2,051	2,051	2,051
Preferred stock	2,116	2,116	2,116	2,116	2,116
Capital surplus	3,804	3,784	3,764	3,742	3,757
Retained earnings	24,150	23,820	23,542	23,224	22,997
Accumulated other comprehensive loss	(4,636)	(3,446)	(4,901)	(4,888)	(4,487)
Treasury stock	(7,840)	(7,541)	(7,346)	(7,227)	(7,262)
Total Equity	19,645	20,784	19,226	19,018	19,172
Total Liabilities and Equity	$212,927	$214,318	$213,262	$214,506	$214,574
(a) Amortized cost	$43,878	$43,754	$43,596	$43,400	$55,789
(b) Market values	10,965	11,554	11,187	11,341	2
(c) Common shares, stated value $2.22 per share (in thousands):
Authorized	2,000,000	2,000,000	2,000,000	2,000,000	2,000,000
Outstanding, excluding treasury	669,854	676,269	680,789	683,812	681,125
Treasury	254,039	247,624	243,103	240,080	242,768


Fifth Third Bancorp and Subsidiaries
Consolidated Statements of Changes in Equity
$ in millions
(unaudited)
			For the Three Months Ended		Year to Date
			December	December	December	December
			2024	2023	2024	2023
Total Equity, Beginning			$20,784	$16,544	$19,172	$17,327
Impact of cumulative effect of change in accounting principle			—	—	(10)	37
Net income			620	530	2,314	2,349
Other comprehensive income (loss), net of tax:
Change in unrealized losses:
		Available-for-sale debt securities	(747)	1,746	29	495
		Qualifying cash flow hedges	(468)	605	(282)	126
Amortization of unrealized losses on securities transferred to held-to-maturity			25	—	101	—
Change in accumulated other comprehensive income related to employee benefit plans			—	1	1	2
Other			—	—	2	—
Comprehensive income (loss)			(570)	2,882	2,165	2,972
Cash dividends declared:
	Common stock		(252)	(242)	(992)	(941)
	Preferred stock		(38)	(38)	(159)	(137)
Impact of stock transactions under stock compensation plans, net			24	26	99	115
Shares acquired for treasury			(303)	—	(630)	(201)

Total Equity, Ending			$19,645	$19,172	$19,645	$19,172


Fifth Third Bancorp and Subsidiaries
Average Balance Sheets and Yield/Rate Analysis	For the Three Months Ended
$ in millions	December			September			December
(unaudited)	2024			2024			2023
	Average	Average		Average	Average		Average	Average
	Balance	Yield/Rate		Balance	Yield/Rate		Balance	Yield/Rate
Assets
Interest-earning assets:
Loans and leases:
Commercial and industrial loans(a)	$51,575	6.65	%	$51,630	7.15	%	$54,688	7.10	%
Commercial mortgage loans(a)	11,822	5.76	%	11,488	6.26	%	11,338	6.26	%
Commercial construction loans(a)	5,711	6.58	%	5,982	7.14	%	5,744	6.96	%
Commercial leases(a)	2,902	4.62	%	2,686	4.53	%	2,535	3.76	%
Total commercial loans and leases	72,010	6.42	%	71,786	6.91	%	74,305	6.85	%
Residential mortgage loans	17,906	3.80	%	17,604	3.71	%	17,508	3.51	%
Home equity	4,125	7.95	%	4,018	8.40	%	3,905	8.28	%
Indirect secured consumer loans	16,100	5.53	%	15,680	5.42	%	15,129	4.69	%
Credit card	1,668	14.24	%	1,708	14.00	%	1,829	13.81	%
Solar energy installation loans	4,137	7.91	%	3,990	8.12	%	3,630	7.00	%
Other consumer loans	2,546	9.28	%	2,629	9.37	%	3,003	8.99	%
Total consumer loans	46,482	5.81	%	45,629	5.81	%	45,004	5.38	%
Total loans and leases	118,492	6.18	%	117,415	6.48	%	119,309	6.30	%
Securities:
Taxable securities	55,319	3.27	%	55,329	3.25	%	55,884	3.13	%
Tax exempt securities(a)	1,383	3.18	%	1,378	3.30	%	1,467	3.29	%
Other short-term investments	18,319	4.94	%	21,714	5.47	%	21,506	5.68	%
Total interest-earning assets	193,513	5.21	%	195,836	5.43	%	198,166	5.31	%
Cash and due from banks	2,664			2,664			2,759
Other assets	17,838			17,626			15,471
Allowance for loan and lease losses	(2,306)			(2,288)			(2,339)
Total Assets	$211,709			$213,838			$214,057

Liabilities
Interest-bearing liabilities:
Interest checking deposits	$59,277	2.98	%	$58,441	3.38	%	$57,114	3.41	%
Savings deposits	17,257	0.64	%	17,272	0.71	%	18,252	0.63	%
Money market deposits	37,279	2.65	%	37,257	3.06	%	34,292	2.85	%
Foreign office deposits	164	1.74	%	164	1.97	%	178	2.32	%
CDs $250,000 or less	10,592	3.95	%	10,543	4.07	%	10,556	4.14	%
Total interest-bearing core deposits	124,569	2.64	%	123,677	2.97	%	120,392	2.89	%
CDs over $250,000	2,531	4.83	%	3,499	5.08	%	5,659	5.21	%

Total interest-bearing deposits	127,100	2.68	%	127,176	3.03	%	126,051	3.00	%
Federal funds purchased	223	4.73	%	176	5.34	%	191	5.38	%
Securities sold under repurchase agreements	313	1.15	%	396	2.36	%	350	1.47	%
FHLB advances	1,567	4.87	%	2,576	5.59	%	3,293	5.66	%
Derivative collateral and other secured borrowings	76	7.68	%	52	14.76	%	34	9.77	%
Long-term debt	15,492	5.40	%	16,716	5.65	%	16,588	5.47	%
Total interest-bearing liabilities	144,771	3.00	%	147,092	3.38	%	146,507	3.34	%
Demand deposits	40,137			40,020			43,396
Other liabilities	6,908			6,475			6,953
Total Liabilities	191,816			193,587			196,856
Total Equity	19,893			20,251			17,201
Total Liabilities and Equity	$211,709			$213,838			$214,057
Ratios:
Net interest margin (FTE)(b)		2.97	%		2.90	%		2.85	%
Net interest rate spread (FTE)(b)		2.21	%		2.05	%		1.97	%
Interest-bearing liabilities to interest-earning assets		74.81	%		75.11	%		73.93	%
(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 27.


Fifth Third Bancorp and Subsidiaries
Average Balance Sheets and Yield/Rate Analysis	Year to Date
$ in millions	December			December
(unaudited)	2024			2023
	Average	Average		Average	Average
	Balance	Yield/Rate		Balance	Yield/Rate
Assets
Interest-earning assets:
Loans and leases:
Commercial and industrial loans(a)	$52,210	7.00	%	$57,005	6.82	%
Commercial mortgage loans(a)	11,501	6.14	%	11,262	5.97	%
Commercial construction loans(a)	5,835	7.02	%	5,582	6.80	%
Commercial leases(a)	2,677	4.44	%	2,629	3.63	%
Total commercial loans and leases	72,223	6.77	%	76,478	6.58	%
Residential mortgage loans	17,537	3.68	%	18,002	3.45	%
Home equity	4,002	8.25	%	3,936	7.58	%
Indirect secured consumer loans	15,583	5.27	%	15,944	4.31	%
Credit card	1,719	13.70	%	1,800	14.00	%
Solar energy installation loans	3,960	8.04	%	2,958	6.09	%
Other consumer loans	2,700	9.19	%	3,164	8.74	%
Total consumer loans	45,501	5.71	%	45,804	5.05	%
Total loans and leases	117,724	6.36	%	122,282	6.01	%
Securities:
Taxable securities	55,227	3.26	%	56,066	3.09	%
Tax exempt securities(a)	1,392	3.25	%	1,461	3.20	%
Other short-term investments	20,457	5.43	%	11,934	5.50	%
Total interest-earning assets	194,800	5.36	%	191,743	5.10	%
Cash and due from banks	2,677			2,772
Other assets	17,637			16,169
Allowance for loan and lease losses	(2,308)			(2,258)
Total Assets	$212,806			$208,426

Liabilities
Interest-bearing liabilities:
Interest checking deposits	$58,599	3.28	%	$52,378	2.96	%
Savings deposits	17,594	0.68	%	20,872	0.71	%
Money market deposits	36,165	2.90	%	30,943	2.15	%
Foreign office deposits	158	2.05	%	158	1.82	%
CDs $250,000 or less	10,537	4.10	%	8,298	3.71	%
Total interest-bearing core deposits	123,053	2.87	%	112,649	2.38	%
CDs over $250,000	4,069	5.11	%	5,332	4.74	%
Total interest-bearing deposits	127,122	2.94	%	117,981	2.48	%
Federal funds purchased	207	5.21	%	307	4.96	%
Securities sold under repurchase agreements	362	1.86	%	348	1.22	%
FHLB advances	2,602	5.56	%	4,596	5.11	%
Derivative collateral and other secured borrowings	60	8.92	%	100	8.24	%
Long-term debt	15,835	5.63	%	14,260	5.20	%
Total interest-bearing liabilities	146,188	3.28	%	137,592	2.86	%
Demand deposits	40,314			46,195
Other liabilities	6,906			6,935
Total Liabilities	193,408			190,722
Total Equity	19,398			17,704
Total Liabilities and Equity	$212,806			$208,426
Ratios:
Net interest margin (FTE)(b)		2.90	%		3.05	%
Net interest rate spread (FTE)(b)		2.08	%		2.24	%
Interest-bearing liabilities to interest-earning assets		75.05	%		71.76	%
(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 27.


Fifth Third Bancorp and Subsidiaries
Summary of Loans and Leases
$ in millions	For the Three Months Ended
(unaudited)	December	September	June	March	December
	2024	2024	2024	2024	2023
Average Portfolio Loans and Leases
Commercial loans and leases:
Commercial and industrial loans	$51,567	$51,615	$52,357	$53,183	$54,633
Commercial mortgage loans	11,792	11,488	11,352	11,339	11,338
Commercial construction loans	5,702	5,981	5,917	5,732	5,727
Commercial leases	2,902	2,685	2,575	2,542	2,535
Total commercial loans and leases	71,963	71,769	72,201	72,796	74,233
Consumer loans:
Residential mortgage loans	17,322	17,031	17,004	16,977	17,129
Home equity	4,125	4,018	3,929	3,933	3,905
Indirect secured consumer loans	16,100	15,680	15,373	15,172	15,129
Credit card	1,668	1,708	1,728	1,773	1,829
Solar energy installation loans	4,137	3,990	3,916	3,794	3,630
Other consumer loans	2,545	2,630	2,740	2,889	3,003
Total consumer loans	45,897	45,057	44,690	44,538	44,625
Total average portfolio loans and leases	$117,860	$116,826	$116,891	$117,334	$118,858

Average Loans and Leases Held for Sale
Commercial loans and leases held for sale	$48	$16	$33	$74	$72
Consumer loans held for sale	584	573	359	291	379
Average loans and leases held for sale	$632	$589	$392	$365	$451

End of Period Portfolio Loans and Leases
Commercial loans and leases:
Commercial and industrial loans	$52,271	$50,916	$51,840	$52,209	$53,270
Commercial mortgage loans	12,246	11,394	11,429	11,346	11,276
Commercial construction loans	5,588	5,947	5,806	5,789	5,621
Commercial leases	3,188	2,873	2,708	2,572	2,579
Total commercial loans and leases	73,293	71,130	71,783	71,916	72,746
Consumer loans:
Residential mortgage loans	17,543	17,166	17,040	16,995	17,026
Home equity	4,188	4,074	3,969	3,883	3,916
Indirect secured consumer loans	16,313	15,942	15,442	15,306	14,965
Credit card	1,734	1,703	1,733	1,737	1,865
Solar energy installation loans	4,202	4,078	3,951	3,871	3,728
Other consumer loans	2,518	2,575	2,661	2,777	2,988
Total consumer loans	46,498	45,538	44,796	44,569	44,488
Total portfolio loans and leases	$119,791	$116,668	$116,579	$116,485	$117,234

End of Period Loans and Leases Held for Sale
Commercial loans and leases held for sale	$66	$100	$25	$32	$44
Consumer loans held for sale	574	512	512	307	334
Loans and leases held for sale	$640	$612	$537	$339	$378

Operating lease equipment	$319	$357	$392	$427	$459

Loans and Leases Serviced for Others(a)
Commercial and industrial loans	$1,071	$1,178	$1,201	$1,197	$1,231
Commercial mortgage loans	579	515	616	632	655
Commercial construction loans	348	342	309	293	283
Commercial leases	725	773	730	703	703
Residential mortgage loans	94,225	95,808	97,280	99,596	100,842
Solar energy installation loans	593	610	625	641	658
Other consumer loans	119	126	133	139	146
Total loans and leases serviced for others	97,660	99,352	100,894	103,201	104,518
Total loans and leases owned or serviced	$218,410	$216,989	$218,402	$220,452	$222,589

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


Fifth Third Bancorp and Subsidiaries
Regulatory Capital
$ in millions		As of
(unaudited)		December		September		June		March		December
		2024(a)		2024		2024		2024		2023
Regulatory Capital(b)
CET1 capital		$17,328		$17,272		$17,160		$16,931		$16,800
Additional tier 1 capital		2,116		2,116		2,116		2,116		2,116
Tier 1 capital		19,444		19,388		19,276		19,047		18,916
Tier 2 capital		3,299		3,303		3,275		3,288		3,484
Total regulatory capital		$22,743		$22,691		$22,551		$22,335		$22,400
Risk-weighted assets		$164,824		$160,604		$161,636		$161,769		$163,223

Ratios
Average total Bancorp shareholders' equity as a percent of average assets		9.40	%	9.47	%	8.80	%	8.78	%	8.04	%

Regulatory Capital Ratios(b)
Fifth Third Bancorp
	CET1 capital	10.51	%	10.75	%	10.62	%	10.47	%	10.29	%
	Tier 1 risk-based capital	11.80	%	12.07	%	11.93	%	11.77	%	11.59	%
	Total risk-based capital	13.80	%	14.13	%	13.95	%	13.81	%	13.72	%
	Leverage	9.22	%	9.11	%	9.07	%	8.94	%	8.73	%

Fifth Third Bank, National Association
	Tier 1 risk-based capital	12.79	%	12.99	%	12.81	%	12.65	%	12.42	%
	Total risk-based capital	14.12	%	14.32	%	14.14	%	13.99	%	13.85	%
	Leverage	10.01	%	9.82	%	9.76	%	9.61	%	9.38	%

(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.


Fifth Third Bancorp and Subsidiaries
Summary of Credit Loss Experience
$ in millions	For the Three Months Ended
(unaudited)	December		September		June		March		December
	2024		2024		2024		2024		2023
Average portfolio loans and leases:
Commercial and industrial loans	$51,567		$51,615		$52,357		$53,183		$54,633
Commercial mortgage loans	11,792		11,488		11,352		11,339		11,338
Commercial construction loans	5,702		5,981		5,917		5,732		5,727
Commercial leases	2,902		2,685		2,575		2,542		2,535
Total commercial loans and leases	71,963		71,769		72,201		72,796		74,233
Residential mortgage loans	17,322		17,031		17,004		16,977		17,129
Home equity	4,125		4,018		3,929		3,933		3,905
Indirect secured consumer loans	16,100		15,680		15,373		15,172		15,129
Credit card	1,668		1,708		1,728		1,773		1,829
Solar energy installation loans	4,137		3,990		3,916		3,794		3,630
Other consumer loans	2,545		2,630		2,740		2,889		3,003
Total consumer loans	45,897		45,057		44,690		44,538		44,625
Total average portfolio loans and leases	$117,860		$116,826		$116,891		$117,334		$118,858

Losses charged-off:
Commercial and industrial loans	($61)		($80)		($83)		($40)		($30)
Commercial mortgage loans	—		—		—		—		—
Commercial construction loans	—		—		—		—		—
Commercial leases	(2)		—		—		—		—
Total commercial loans and leases	(63)		(80)		(83)		(40)		(30)
Residential mortgage loans	(1)		—		(1)		—		(1)
Home equity	(2)		(1)		(1)		(2)		(2)
Indirect secured consumer loans	(39)		(35)		(31)		(35)		(35)
Credit card	(21)		(21)		(22)		(23)		(22)
Solar energy installation loans	(20)		(16)		(14)		(14)		(11)
Other consumer loans	(29)		(30)		(30)		(32)		(32)
Total consumer loans	(112)		(103)		(99)		(106)		(103)
Total losses charged-off	($175)		($183)		($182)		($146)		($133)

Recoveries of losses previously charged-off:
Commercial and industrial loans	$6		$8		$3		$5		$2
Commercial mortgage loans	—		—		—		—		3
Commercial construction loans	—		—		—		—		—
Commercial leases	—		—		—		—		—
Total commercial loans and leases	6		8		3		5		5
Residential mortgage loans	1		1		1		—		1
Home equity	2		1		2		2		2
Indirect secured consumer loans	12		13		14		11		10
Credit card	4		5		5		5		4
Solar energy installation loans	3		2		2		2		1
Other consumer loans	11		11		11		11		14
Total consumer loans	33		33		35		31		32
Total recoveries of losses previously charged-off	$39		$41		$38		$36		$37

Net losses charged-off:
Commercial and industrial loans	($55)		($72)		($80)		($35)		($28)
Commercial mortgage loans	—		—		—		—		3
Commercial construction loans	—		—		—		—		—
Commercial leases	(2)		—		—		—		—
Total commercial loans and leases	(57)		(72)		(80)		(35)		(25)
Residential mortgage loans	—		1		—		—		—
Home equity	—		—		1		—		—
Indirect secured consumer loans	(27)		(22)		(17)		(24)		(25)
Credit card	(17)		(16)		(17)		(18)		(18)
Solar energy installation loans	(17)		(14)		(12)		(12)		(10)
Other consumer loans	(18)		(19)		(19)		(21)		(18)
Total consumer loans	(79)		(70)		(64)		(75)		(71)
Total net losses charged-off	($136)		($142)		($144)		($110)		($96)

Net losses charged-off as a percent of average portfolio loans and leases (annualized):
Commercial and industrial loans	0.42	%	0.55	%	0.61	%	0.27	%	0.20	%
Commercial mortgage loans	0.01	%	—		0.01	%	—		(0.10	%)
Commercial construction loans	—		—		—		—		—
Commercial leases	0.32	%	(0.01	%)	(0.01	%)	(0.04	%)	0.01	%
Total commercial loans and leases	0.32	%	0.40	%	0.45	%	0.19	%	0.13	%
Residential mortgage loans	(0.01	%)	(0.02	%)	(0.01	%)	(0.01	%)	(0.01	%)
Home equity	(0.01	%)	(0.02	%)	(0.05	%)	0.03	%	0.05	%
Indirect secured consumer loans	0.66	%	0.54	%	0.46	%	0.64	%	0.64	%
Credit card	4.00	%	3.74	%	3.98	%	4.19	%	3.90	%
Solar energy installation loans	1.64	%	1.44	%	1.25	%	1.31	%	1.09	%
Other consumer loans	2.84	%	3.00	%	2.61	%	2.71	%	2.60	%
Total consumer loans	0.68	%	0.62	%	0.57	%	0.67	%	0.64	%
Total net losses charged-off as a percent of average portfolio loans and leases (annualized)	0.46	%	0.48	%	0.49	%	0.38	%	0.32	%


Fifth Third Bancorp and Subsidiaries
Asset Quality
$ in millions	For the Three Months Ended
(unaudited)	December		September		June		March		December
	2024		2024		2024		2024		2023
Allowance for Credit Losses
Allowance for loan and lease losses, beginning	$2,305		$2,288		$2,318		$2,322		$2,340
Total net losses charged-off	(136)		(142)		(144)		(110)		(96)
Provision for loan and lease losses	183		159		114		106		78
Allowance for loan and lease losses, ending	$2,352		$2,305		$2,288		$2,318		$2,322

Reserve for unfunded commitments, beginning	$138		$137		$154		$166		$189
(Benefit from) provision for the reserve for unfunded commitments	(4)		1		(17)		(12)		(23)
Reserve for unfunded commitments, ending	$134		$138		$137		$154		$166

Components of allowance for credit losses:
Allowance for loan and lease losses	$2,352		$2,305		$2,288		$2,318		$2,322
Reserve for unfunded commitments	134		138		137		154		166
Total allowance for credit losses	$2,486		$2,443		$2,425		$2,472		$2,488

	As of
	December		September		June		March		December
	2024		2024		2024		2024		2023
Nonperforming Assets and Delinquent Loans
Nonaccrual portfolio loans and leases:
Commercial and industrial loans	$374		$255		$234		$332		$304
Commercial mortgage loans	79		78		38		39		20
Commercial construction loans	1		1		1		1		1
Commercial leases	2		—		1		—		1
Residential mortgage loans	137		131		129		137		124
Home equity	70		67		61		60		57
Indirect secured consumer loans	55		50		36		32		36
Credit card	32		31		31		32		34
Solar energy installation loans	64		64		66		65		60
Other consumer loans	9		9		9		10		12
Total nonaccrual portfolio loans and leases	823		686		606		708		649
Repossessed property	9		11		9		8		10
OREO	21		28		28		27		29
Total nonperforming portfolio loans and leases and OREO	853		725		643		743		688
Nonaccrual loans held for sale	7		8		4		5		1
Total nonperforming assets	$860		$733		$647		$748		$689

Loans and leases 90 days past due (accrual):
Commercial and industrial loans	$5		$10		$3		$9		$8
Commercial mortgage loans	—		3		1		—		—

Commercial leases	1		1		4		2		—
Total commercial loans and leases	6		14		8		11		8
Residential mortgage loans(c)	6		8		8		5		7


Credit card	20		18		17		19		21


Total consumer loans	26		26		25		24		28
Total loans and leases 90 days past due (accrual)(b)	$32		$40		$33		$35		$36
Ratios
Net losses charged-off as a percent of average portfolio loans and leases (annualized)	0.46	%	0.48	%	0.49	%	0.38	%	0.32	%
Allowance for credit losses:
As a percent of portfolio loans and leases	2.08	%	2.09	%	2.08	%	2.12	%	2.12	%
As a percent of nonperforming portfolio loans and leases(a)	302	%	356	%	400	%	349	%	383	%
As a percent of nonperforming portfolio assets(a)	291	%	337	%	377	%	333	%	362	%
Nonperforming portfolio loans and leases as a percent of portfolio loans and leases(a)	0.69	%	0.59	%	0.52	%	0.61	%	0.55	%
Nonperforming portfolio assets as a percent of portfolio loans and leases and OREO(a)	0.71	%	0.62	%	0.55	%	0.64	%	0.59	%
Nonperforming assets as a percent of total loans and leases, OREO, and repossessed property	0.71	%	0.62	%	0.55	%	0.64	%	0.59	%
(a) Excludes nonaccrual loans held for sale.
(b) Excludes loans held for sale.
(c) Excludes government guaranteed residential mortgage loans.

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.


Fifth Third Bancorp and Subsidiaries
Non-GAAP Reconciliation
$ and shares in millions		As of and For the Three Months Ended
(unaudited)		December		September		June		March		December
		2024		2024		2024		2024		2023
Net interest income		$1,437		$1,421		$1,387		$1,384		$1,416
Add: Taxable equivalent adjustment		6		6		6		6		7
Net interest income (FTE) (a)		1,443		1,427		1,393		1,390		1,423

Net interest income (annualized) (b)		5,717		5,653		5,578		5,566		5,618
Net interest income (FTE) (annualized) (c)		5,741		5,677		5,603		5,591		5,646

Interest income		2,528		2,669		2,620		2,608		2,648
Add: Taxable equivalent adjustment		6		6		6		6		7
Interest income (FTE)		2,534		2,675		2,626		2,614		2,655
Interest income (FTE) (annualized) (d)		10,081		10,642		10,562		10,513		10,533

Interest expense (annualized) (e)		4,340		4,965		4,959		4,923		4,888
Average interest-earning assets (f)		193,513		195,836		194,499		195,349		198,166
Average interest-bearing liabilities (g)		144,771		147,092		146,361		146,533		146,507

Net interest margin (b) / (f)		2.95	%	2.89	%	2.87	%	2.85	%	2.83	%
Net interest margin (FTE) (c) / (f)		2.97	%	2.90	%	2.88	%	2.86	%	2.85	%
Net interest rate spread (FTE) (d) / (f) - (e) / (g)		2.21	%	2.05	%	2.04	%	2.02	%	1.97	%

Income before income taxes		$764		$728		$764		$658		$650
Add: Taxable equivalent adjustment		6		6		6		6		7
Income before income taxes (FTE)		770		734		770		664		657

Net income available to common shareholders		582		532		561		480		492
Add: Intangible amortization, net of tax		7		7		7		8		8
Tangible net income available to common shareholders (h)		589		539		568		488		500
Tangible net income available to common shareholders (annualized) (i)		2,343		2,144		2,284		1,963		1,984

Average Bancorp shareholders’ equity		19,893		20,251		18,707		18,727		17,201
Less:	Average preferred stock	(2,116)		(2,116)		(2,116)		(2,116)		(2,116)
	Average goodwill	(4,918)		(4,918)		(4,918)		(4,918)		(4,919)
	Average intangible assets	(94)		(103)		(111)		(121)		(130)
Average tangible common equity, including AOCI (j)		12,765		13,114		11,562		11,572		10,036
Less:	Average AOCI	4,292		3,914		5,278		4,938		6,244
Average tangible common equity, excluding AOCI (k)		17,057		17,028		16,840		16,510		16,280

Total Bancorp shareholders’ equity		19,645		20,784		19,226		19,018		19,172
Less:	Preferred stock	(2,116)		(2,116)		(2,116)		(2,116)		(2,116)
	Goodwill	(4,918)		(4,918)		(4,918)		(4,918)		(4,919)
	Intangible assets	(90)		(98)		(107)		(115)		(125)
Tangible common equity, including AOCI (l)		12,521		13,652		12,085		11,869		12,012
Less:	AOCI	4,636		3,446		4,901		4,888		4,487
Tangible common equity, excluding AOCI (m)		17,157		17,098		16,986		16,757		16,499
Add:	Preferred stock	2,116		2,116		2,116		2,116		2,116
Tangible equity (n)		19,273		19,214		19,102		18,873		18,615

Total assets		212,927		214,318		213,262		214,506		214,574
Less:	Goodwill	(4,918)		(4,918)		(4,918)		(4,918)		(4,919)
	Intangible assets	(90)		(98)		(107)		(115)		(125)
Tangible assets, including AOCI (o)		207,919		209,302		208,237		209,473		209,530
Less:	AOCI, before tax	5,868		4,362		6,204		6,187		5,680
Tangible assets, excluding AOCI (p)		$213,787		$213,664		$214,441		$215,660		$215,210

Common shares outstanding (q)		670		676		681		684		681

Tangible equity (n) / (p)		9.02	%	8.99	%	8.91	%	8.75	%	8.65	%
Tangible common equity (excluding AOCI) (m) / (p)		8.03	%	8.00	%	7.92	%	7.77	%	7.67	%
Tangible common equity (including AOCI) (l) / (o)		6.02	%	6.52	%	5.80	%	5.67	%	5.73	%
Tangible book value per share (including AOCI) (l) / (q)		$18.69		$20.20		$17.75		$17.35		$17.64
Tangible book value per share (excluding AOCI) (m) / (q)		$25.61		$25.29		$24.94		$24.50		$24.23


Fifth Third Bancorp and Subsidiaries
Non-GAAP Reconciliation
$ in millions		For the Three Months Ended
(unaudited)		December		September		December
		2024		2024		2023
Net income (r)		$620		$573		$530
Net income (annualized) (s)		2,467		2,280		2,103

Adjustments (pre-tax items)
	Valuation of Visa total return swap	51		47		22
	Fifth Third Foundation contribution	15		—		15
	Mastercard litigation	4		10		—
	FDIC special assessment	(11)		—		224
	Restructuring severance expense	—		9		5


Adjustments, after-tax (t)(a) (b)		45		51		205





Adjustments (tax related items)
	Benefit related to the resolution of certain state income tax matters	(15)		—		(17)
Adjustments (tax related items) (u)		(15)		—		(17)







Noninterest income (v)		732		711		744
	Valuation of Visa total return swap	51		47		22

Adjusted noninterest income (w)		783		758		766

Noninterest expense (x)		1,226		1,244		1,455
	Fifth Third Foundation contribution	(15)		—		(15)
	Mastercard litigation	(4)		(10)		—
	FDIC special assessment	11		—		(224)
	Restructuring severance expense	—		(9)		(5)
Adjusted noninterest expense (y)		1,218		1,225		1,211



Adjusted net income (r) + (t) + (u)		650		624		718
Adjusted net income (annualized) (z)		2,586		2,482		2,849

Adjusted tangible net income available to common shareholders (h) + (t) + (u)		619		590		688
Adjusted tangible net income available to common shareholders (annualized) (aa)		2,463		2,347		2,730

Average assets (ab)		$211,709		$213,838		$214,057

Return on average tangible common equity (i) / (j)		18.4	%	16.3	%	19.8	%
Return on average tangible common equity excluding AOCI (i) / (k)		13.7	%	12.6	%	12.2	%
Adjusted return on average tangible common equity, including AOCI (aa) / (j)		19.3	%	17.9	%	27.2	%
Adjusted return on average tangible common equity, excluding AOCI (aa) / (k)		14.4	%	13.8	%	16.8	%

Return on average assets (s) / (ab)		1.17	%	1.06	%	0.98	%
Adjusted return on average assets (z) / (ab)		1.22	%	1.16	%	1.33	%
Efficiency ratio (FTE) (x) / [(a) + (v)]		56.4	%	58.2	%	67.2	%
Adjusted efficiency ratio (y) / [(a) + (w)]		54.7	%	56.1	%	55.3	%


Total revenue (FTE) (a) + (v)		$2,175		$2,138		$2,167
Adjusted total revenue (FTE) (a) + (w)		$2,226		$2,185		$2,189
Pre-provision net revenue (PPNR) (a) + (v) - (x)		$949		$894		$712
Adjusted pre-provision net revenue (PPNR) (a) + (w) - (y)		$1,008		$960		$978
Totals may not foot due to rounding.
(a) Assumes a 23% tax rate.
(b) A portion of the adjustments related to legal settlements and remediations are not tax-deductible.


Fifth Third Bancorp and Subsidiaries
Segment Presentation(b)
$ in millions
(unaudited)

For the three months ended December 31, 2024	Commercial Banking	Consumer and Small Business Banking	Wealth and Asset Management	General Corporate and Other	Total

Net interest income (FTE)(a)	$623	$959	$48	$(187)	$1,443
Provision for credit losses	(21)	(89)	—	(69)	(179)
Net interest income after provision for credit losses	602	870	48	(256)	1,264
Noninterest income	375	276	103	(22)	732
Noninterest expense	(464)	(605)	(94)	(63)	(1,226)
Income (loss) before income taxes	513	541	57	(341)	770
Applicable income tax (expense) benefit(a)	(91)	(113)	(12)	66	(150)
Net income (loss)	$422	$428	$45	$(275)	$620

For the three months ended September 30, 2024	Commercial Banking	Consumer and Small Business Banking	Wealth and Asset Management	General Corporate and Other	Total

Net interest income (FTE)(a)	$673	$1,031	$50	$(327)	$1,427
Provision for credit losses	(76)	(78)	—	(6)	(160)
Net interest income after provision for credit losses	597	953	50	(333)	1,267
Noninterest income	357	280	99	(25)	711
Noninterest expense	(470)	(604)	(95)	(75)	(1,244)
Income (loss) before income taxes	484	629	54	(433)	734
Applicable income tax (expense) benefit(a)	(91)	(132)	(12)	74	(161)
Net income (loss)	$393	$497	$42	$(359)	$573

For the three months ended June 30, 2024	Commercial Banking	Consumer and Small Business Banking	Wealth and Asset Management	General Corporate and Other	Total

Net interest income (FTE)(a)	$660	$1,055	$54	$(376)	$1,393
(Provision for) benefit from credit losses	(137)	(70)	—	110	(97)
Net interest income after (provision for) benefit from credit losses	523	985	54	(266)	1,296
Noninterest income	323	272	98	2	695
Noninterest expense	(457)	(626)	(93)	(45)	(1,221)
Income (loss) before income taxes	389	631	59	(309)	770
Applicable income tax (expense) benefit(a)	(69)	(132)	(12)	44	(169)
Net income (loss)	$320	$499	$47	$(265)	$601

For the three months ended March 31, 2024	Commercial Banking	Consumer 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 losses	619	1,041	59	(423)	1,296
Noninterest income	326	266	102	16	710
Noninterest expense	(501)	(639)	(103)	(99)	(1,342)
Income (loss) before income taxes	444	668	58	(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 Banking	Consumer 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 losses	25	(81)	—	1	(55)
Net interest income after (provision for) benefit from credit losses	837	1,109	66	(644)	1,368
Noninterest income	332	284	91	37	744
Noninterest expense	(488)	(614)	(90)	(263)	(1,455)
Income (loss) before income taxes	681	779	67	(870)	657
Applicable income tax (expense) benefit(a)	(129)	(164)	(15)	181	(127)
Net income (loss)	$552	$615	$52	$(689)	$530
(a) Includes taxable equivalent adjustments of $6 million for the three months ended December 31, 2024, September 30, 2024, June 30, 2024 and March 31, 2024 and $7 million for the three months ended December 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.

© Fifth Third Bancorp | All Rights Reserved Ó Fifth Third Bancorp | All Rights Reserved Fifth Third Bancorp 4Q24 Earnings Presentation January 21, 2025 Refer to earnings release dated January 21, 2025 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 27 through 29 of our 4Q24 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 $0.85 $0.90 ROA 1.17% 1.22% ROE 13.0% 13.7% ROTCE 18.4% 19.3% NIM 2.97% 2.97% Efficiency ratio 56.4% 54.7% PPNR $949MM $1.008B CET12 10.51% For end note descriptions, see end note summary starting on page 42 4Q24 highlights 3 • Continued momentum in net interest income and net interest margin due to loan growth, deposit rate management, and fixed rate asset re-pricing • Interest-bearing liabilities costs down 38 bps sequentially • Strong fee performance driven by strategic investments in commercial payments, wealth and asset management, and capital markets • Disciplined expense management; adjusted efficiency ratio1 of 54.7% improved 60 bps compared to 4Q23 • Compared to 3Q24, period-end consumer and commercial loans increased 2% and 3%, respectively

© Fifth Third Bancorp | All Rights Reserved Delivered predictable results and remain well-positioned for 2025 down 2 – 4% Noninterest expense1 up ~1% (FY23 baseline: $4.937 billion) Net charge-off ratio 35 – 45 bps For end note descriptions, see end note summary starting on page 42 Total revenue1 down 1 - 2% (FY23 baseline: $8.826 billion; Includes securities g/l) Focus on strength and stability leads to expected outcomes 4 Net interest income1 Noninterest income1 up 1 - 2% (FY23 baseline: $5.852 billion) (FY23 baseline: $2.956 billion) Full year guidance as of January 19, 2024 down 3% stable 45 bps down 2% up 1% Full year 2024 adjusted1 results

© Fifth Third Bancorp | All Rights Reserved $1.42 $1.39 $1.39 $1.43 $1.44 $1.42 $1.39 $1.40 $1.43 $1.44 2.85% 2.86% 2.89% 2.90% 2.97% 4Q23 1Q24 2Q24 3Q24 4Q24 NII $ in millions; NIM change in bps 3Q24 to 4Q24 adjusted NII & NIM walk T o ta l n et i n te re st i n co m e; $ b il li o n s NII Adjusted NIM For end note descriptions, see end note summary starting on page 42 NII $1,4273Q24 2.90% NIM $1,443 2.97%4Q24 Securities portfolio / other short-term investments Loan balances / mix 3 5 10 1 3 1Net market rate impact Deposit / wholesale funding balances / mix 5 1 Net interest income1 (1)(5) 5 Other, net Adjusted NII

© Fifth Third Bancorp | All Rights Reserved • Adjusted noninterest income1 up $43 million, or 6% • Primary drivers: ‒ Commercial banking revenue (up 17%) primarily reflecting increases in lease syndication and remarketing ‒ Capital market fees (up 11%) primarily due to increases in syndication and M&A advisory fees ‒ Mortgage banking net revenue (up 14%) primarily due to the negative MSR revaluation adjustment in 3Q24 not recurring • Adjusted noninterest income1 up $41 million, or 5% • Primary drivers: ‒ Capital markets fees (up 16%) primarily reflecting an increase in syndication fees ‒ Wealth and asset management revenue (up 11%) primarily reflecting an increase in personal asset management revenue ‒ Commercial payments revenue (up 7%) primarily due to new customer acquisition Noninterest income $744 $711 $732$750 $748 $791 Noninterest income Adjusted noninterest income (excl. securities gains/losses,net)¹ 4Q23 3Q24 4Q24 4Q24 vs. 4Q23 4Q24 vs. 3Q24 For end note descriptions, see end note summary starting on page 42 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) 4Q23 3Q24 4Q24 Net losses/(gains) attributable to non-qualified deferred compensation plans (NQDC), offset in expenses ($13) ($10) $7 Other losses/(gains), net (3) — 1 Securities losses/(gains), net ($16) ($10) $8 6

© Fifth Third Bancorp | All Rights Reserved 22% 20% 19% 14% 13% 7% 5% Strategic investments resulting in fee diversification and growth • Total adjusted fee revenue accounted for ~34% of total adjusted revenue for the last twelve months ending 12/31/24 • Focused on diversifying revenue to lessen cyclical impacts, with success in Wealth & Asset Management, Capital Markets, and Commercial Payments 7 Fee revenue mix is well-diversified LTM 4Q24 adjusted noninterest income mix1,2 Wealth and Asset Management Capital Markets Mortgage Banking Other noninterest income Consumer Banking Commercial Banking Commercial Payments Fee contribution as a percent of revenue stands out favorably relative to peers LTM 4Q24 adjusted noninterest income as a percent of adjusted revenue2, unless otherwise noted For end note descriptions, see end note summary starting on page 42 LTM 4Q24 adjusted noninterest income $2.97B 34% 28% LTM 3Q24 Peer Median

© Fifth Third Bancorp | All Rights Reserved • Adjusted noninterest expense1 up $7 million, or 1% • Primary drivers: ‒ Compensation and benefits expense (up 2%) ‒ Technology and communications expense (up 5%) ‒ Partially offset by marketing expense (down 23%) $1,455 $1,244 $1,226$1,211 $1,225 $1,218 Noninterest expense Adjusted noninterest expense¹ 4Q23 3Q24 4Q24 T o ta l n o n in te re st e x p en se ; $ m il li o n s 4Q24 vs. 4Q23 4Q24 vs. 3Q24 For end note descriptions, see end note summary starting on page 42 Noninterest expense 8 ($ in millions) 4Q23 3Q24 4Q24 Non-qualified deferred compensation expense/(benefit), primarily offset in securities gains/losses $13 $10 ($7) • Adjusted noninterest expense1 down $7 million, or 1% • Primary drivers: ‒ Compensation and benefits (down 2%) ‒ Marketing expense (down 12%) ‒ Partially offset by an increase in net occupancy expense (up 9%) Includes $224 due to the FDIC special assessment

© Fifth Third Bancorp | All Rights Reserved $0.3 $0.5 $0.6 $0.4 $0.6 $0.6 4Q23 3Q24 4Q24 QoQ YoY +2% +5% +3% +1% QoQ YoY (16%) (15%) — (1%) QoQ YoY +2% +3% — (3%) $117.2 $116.7 $119.8 $72.7 $71.1 $73.3 $44.5 $45.5 $46.5 4Q23 3Q24 4Q24 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 For end note descriptions, see end note summary starting on page 42; totals shown above may not foot due to rounding % change % change % change $ in billions; loan & lease balances excluding HFS $ in billions 9 $118.9 $116.8 $117.9 $74.2 $71.8 $72.0 $44.6 $45.1 $45.9 6.30% 6.48% 6.18% Commercial Consumer Total Loan Yield 4Q23 3Q24 4Q24 $78.9 $78.4 $75.0 $57.4 $56.7 $56.7 $21.5 $21.7 $18.3 3.13% 3.25% 3.27% Securities Short-term investments Taxable securities yield 4Q23 3Q24 4Q24 QoQ YoY +12% +72% (34%) +50% Period-end HFS loan & lease balances Commercial Consumer $ in billions $0.0 $0.1$0.1 % change

© Fifth Third Bancorp | All Rights Reserved QoQ YoY (28%) (55%) — +1% $26.1 $23.4 $20.2 5.39% 5.52% 5.23% 4Q23 3Q24 4Q24 $163.7 $165.1 $164.9 $168.9 $168.3 $167.3 4Q23 3Q24 4Q24 $24.6 $22.0 $21.3 4Q23 3Q24 4Q24 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 10Total wholesale funding QoQ YoY (14%) (23%) QoQ YoY (3%) (13%) $2.5$3.5$5.7 $2.4$3.3 $5.2 Core depositsCDs > $250K QoQ YoY (28%) (55%) +1% +1% $169.4 $167.2 $167.2 $163.8 $163.7 $164.7 3.00% 3.03% 2.68% 4Q23 3Q24 4Q24

© Fifth Third Bancorp | All Rights Reserved For end note descriptions, see end note summary starting on page 42 11 4Q14 4Q15 4Q16 4Q17 4Q18 4Q19 4Q20 4Q21 4Q22 4Q23 4Q24 0.00% 0.25% 0.50% 0.75% 1.00% Historical net charge-off and NPA ratios Net charge-off ratio Non-performing assets ratio2 4Q14 4Q15 4Q16 4Q17 4Q18 4Q19 4Q20 4Q21 4Q22 4Q23 4Q24 0.00% 0.25% 0.50% 0.75% 1.00% Commercial net charge-off ratio 4Q14 4Q15 4Q16 4Q17 4Q18 4Q19 4Q20 4Q21 4Q22 4Q23 4Q24 0.00% 0.25% 0.50% 0.75% 1.00% 4Q14 4Q15 4Q16 4Q17 4Q18 4Q19 4Q20 4Q21 4Q22 4Q23 4Q24 0.00% 0.25% 0.50% 0.75% 1.00% Consumer net charge-off ratio 4Q24 0.32% 4Q24 0.46% 4Q24 0.71% 4Q24 0.68% 10 year average excluding COVID1 10 year average excluding COVID1 10 year average excluding COVID1 10 year average excluding COVID1

© Fifth Third Bancorp | All Rights Reserved Net charge-offs (NCOs) $96 $110 $144 $142 $136 4Q23 1Q24 2Q24 3Q24 4Q24 For end note descriptions, see end note summary starting on page 42 Credit quality overview 12 Key metrics 4Q23 1Q24 2Q24 3Q24 4Q24 NPL ratio 0.55% 0.61% 0.52% 0.59% 0.69% NPA ratio1 0.59% 0.64% 0.55% 0.62% 0.71% 30-89 days past due as a % of portfolio loans and leases 0.31% 0.29% 0.26% 0.24% 0.25% NCO ratio 0.32% 0.38% 0.49% 0.48% 0.46% ACL ratio as a % of portfolio loans and leases 2.12% 2.12% 2.08% 2.09% 2.08% Nonperforming loans (NPLs) $649 $708 $606 $686 $823 4Q23 1Q24 2Q24 3Q24 4Q24 Portfolio loans & leases 30-89 days past due $359 $342 $302 $283 $303 4Q23 1Q24 2Q24 3Q24 4Q24 $ in millions

© Fifth Third Bancorp | All Rights Reserved • Drivers of $43MM 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 4Q24 Amount % of portfolio loans & leases For end note descriptions, see end note summary starting on page 42; totals shown above may not foot due to rounding Change in rate Compared to: 3Q24 4Q23 Allowance for credit losses 13 2,352 134 $2,486 1.96% 2.08% (0.02%) (0.01%) (0.02%) (0.04%) $728 351 59 16 146 106 119 311 165 1,198 $1,154 1.39% 2.87% 1.06% 0.50% 0.83% 2.53% 4.73% 1.91% 9.52% 2.58% 1.57% 0.01% 0.08% (0.12%) 0.01% — (0.05%) (0.20%) 0.04% (1.87%) (0.06%) 0.02% (0.05%) 0.35% (0.11%) — (0.02%) (0.07%) (0.58%) 0.10% (2.65%) (0.10%) 0.02% Solar energy installation loans 351 8.35% 0.18% 0.52% • $43MM increase in ACL is primarily due to the increase in loans during 4Q24 • ACL as a percent of portfolio loans and leases declined 1 bp to 2.08%

© Fifth Third Bancorp | All Rights Reserved 10.75% ~35 bps (~28 bps) (~18 bps) (~15 bps) ~2 bps 10.51% 3Q24 Net income to common RWA Share repurchases Common dividends Other 4Q24 14 Strong liquidity and capital position Liquidity position $ in billions Fed Reserves Unpledged Investment Securities Available FHLB Borrowing Capacity Current Fed Discount Window Availability Total ~$17 ~$25 ~$9 ~$58 ~$109 9/30/24 Capital position Common equity tier 1 ratio1 ~$21 ~$22 ~$11 ~$58 ~$112 Liquidity Sources 12/31/24 For end note descriptions, see end note summary starting on page 42; totals shown above may not foot due to rounding • Maintained full Category 1 LCR compliance during the quarter, ending at 125% • Loan-to-core deposit ratio of 73% • 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

© Fifth Third Bancorp | All Rights Reserved up 5 – 6% Noninterest expense1 up 3 – 4% (FY24 baseline: $4.936 billion; Excludes the mark-to-market impact of non-qualified deferred compensation) Net charge-off ratio 40 – 49 bps Effective tax rate 22% For end note descriptions, see end note summary starting on page 42 As of January 21, 2025; please see cautionary statements on page 2 (including HFS) Avg. loans & leases up 3 – 4% Current expectations FY 2025 compared to FY 2024 15 Allowance for credit losses expect ~$50 – $100MM build Net interest income1 Noninterest income1 up 3 – 6% (FY24 baseline: $5.658 billion) (FY24 baseline: $2.973 billion; Excludes securities g/l) due to loan growth/mix and assumes no change to macroeconomic outlook and risk profile as of 4Q24 assumes 12/31/25 Fed funds rate of 4.0%

© Fifth Third Bancorp | All Rights Reserved stable Noninterest expense1 up ~8% (4Q24 baseline: $1.225 billion; Excludes the mark-to-market impact of non-qualified deferred compensation) Net charge-off ratio 45 - 49 bps For end note descriptions, see end note summary starting on page 42 As of January 21, 2025; please see cautionary statements on page 2 (including HFS) Avg. loans & leases up ~2% Current expectations 1Q25 compared to 4Q24 16 Net interest income1 Noninterest income1 down 7 – 8% (4Q24 baseline: $1.443 billion) (4Q24 baseline: $791 million; Excludes securities g/l) stable excluding ~$100MM in seasonal 1Q25 expenses assumes 3/31/25 Fed funds rate of 4.25% down 6 - 7% excluding TRA impact Effective tax rate 22% Allowance for credit losses expect ~$10 – $25MM build due to loan growth/mix and assumes no change to macroeconomic outlook and risk profile as of 4Q24

© Fifth Third Bancorp | All Rights Reserved Treasury management fee equivalent and earnings credits - previously in service charges on deposits Commercial card interchange - previously in card and processing revenue Commercial cardholder fees and merchant referral fees - previously in other noninterest income Noninterest income and expense reclassification 18 Commercial payments revenue Includes the following captions: Consumer banking revenue Includes the following captions: Includes the following captions previously in Commercial banking revenue: Lending related fees Leasing business revenue - previously in leasing business revenue Commercial banking revenue Includes the following captions: Capital markets fees Financial risk management revenue (commodities, interest rates, fx) Loan syndications and bridge fees Debt and equity capital markets M&A advisory Consumer deposit fees - previously in service charges on deposits Consumer card interchange - previously in card and processing revenue Banking center fees, consumer cardholder fees, and consumer loan fee revenue - previously in other noninterest income

© Fifth Third Bancorp | All Rights Reserved $74.2 $72.8 $72.2 $71.8 $72.0$72.7 $71.9 $71.8 $71.1 $73.3 4Q23 1Q24 2Q24 3Q24 4Q24 4Q23 3Q24 4Q24 NCO ratio1 0.13% 0.40% 0.32% 30-89 Delinquencies 0.11% 0.07% 0.07% 90+ Delinquencies 0.01% 0.02% 0.01% Nonperforming Loans2 0.45% 0.47% 0.62% 19 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 42; totals shown above may not foot due to rounding (2.8%) (1.9%) (0.8%) (0.6%) 0.3% (3.2%) (1.1%) (0.2%) (0.9%) 3.0% Commercial Portfolio Mix 71% 17% 8% 4% C&I Commercial Mortgage Commercial Construction Commercial Leases Period-endAverage

© Fifth Third Bancorp | All Rights Reserved $54.6 $53.2 $52.4 $51.6 $51.6 $53.3 $52.2 $51.8 $50.9 $52.3 4Q23 1Q24 2Q24 3Q24 4Q24 4Q23 3Q24 4Q24 NCO ratio1 0.20% 0.55% 0.42% 30-89 Delinquencies 0.09% 0.06% 0.05% 90+ Delinquencies 0.02% 0.02% 0.01% Nonperforming Loans2 0.57% 0.50% 0.72% 20 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 42; totals shown above may not foot due to rounding (4.2%) (2.7%) (1.6%) (1.4%) (0.1%) (4.5%) (2.0%) (0.7%) (1.8%) 2.7% 37.2% 36.8% 36.9% 35.3% 35.6% 35.3% 35.5% 36.1% 35.5% 36.2% 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 Period-endAverage

© Fifth Third Bancorp | All Rights Reserved • Reduced balances 14% compared to 1Q23 • ~60% of SNC balances are at or near investment grade equivalent borrowers; independently underwrite each transaction • Lead left / lead right on ~50% of relationships • Criticized assets and NPAs are consistent or lower than the rest of the commercial portfolio over a multi-year period 21 High quality Shared National Credit portfolio $ in billions; as of 12/31/24 SNC portfolio $32.2BN ~27% of total loans Shared National Credit portfolio is well diversified Industry mix Retail 18% Financial services 15% Rental & Leasing 12% Manufacturing 10% TMT 9% Energy 9% Wholesale trade 8% Other industries 19% Note: totals shown above may not foot due to rounding

© Fifth Third Bancorp | All Rights Reserved 54%46% 47% 17% 16% 5% 4% 3% 8% 4Q23 3Q24 4Q24 NCO ratio1 (0.07%) 0.00% 0.00% 30-89 Delinquencies 0.09% 0.04% 0.05% 90+ Delinquencies 0.00% 0.02% 0.00% Nonperforming Loans2 0.12% 0.46% 0.45% 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 42; totals shown above may not foot due to rounding $ in billions 1.2% 1.4% 0.6% 0.6% 2.8% 1.9% — 1.2% 1.2% 0.1% Multifamily Other Retail Office Hospitality Industrial Home Builder Non-Owner Occupied Owner Occupied Multifamily 20% Hospitality 18% Retail 18% Office 14% Medical Office 10% Industrial 9% Non-owner occupied property type mix $17.1 $17.1 $17.3 $17.5 $17.5 $16.9 $17.1 $17.2 $17.3 $17.8 $5.7 $5.7 $5.9 $6.0 $5.7 $11.3 $11.3 $11.4 $11.5 $11.8 $5.6 $5.8 $5.8 $5.9 $5.6 $11.3 $11.3 $11.4 $11.4 $12.2 Average - Commercial Construction Average - Commercial Mortgage Period-End - Commercial Construction Period-End - Commercial Mortgage 4Q23 1Q24 2Q24 3Q24 4Q24 22 Other 11%

© Fifth Third Bancorp | All Rights Reserved 13% 14% 14% 15% 15% 15% 16% 16% 22% 26% 29% 36% 37% 41% Peer 1 Peer 2 Peer 3 Peer 4 Peer 5 Peer 6 Peer 7 Peer 8 Peer 9 Peer 10 Peer 11 Peer 12 73% 76% 77% 78% 79% 84% 88% 95% 133% 147% 169% 178% 237% 276% Peer 1 Peer 2 Peer 6 Peer 5 Peer 4 Peer 3 Peer 7 Peer 8 Peer 9 Peer 10 Peer 11 Peer 12 CRE portfolio is well-positioned 23 Comparing CRE portfolios relative to peers CRE loans1 / total loans Among the lowest CRE concentration relative to peers with strong credit quality CRE loans1 / total capital FITB 3Q24 FITB 4Q24 FITB 3Q24 FITB 4Q24 CRE net charge-off ratio2 (0.02%) 0.00% 0.02% 0.06% 0.07% 0.23% 0.33% 0.37% 0.61% 0.88% 0.93% 1.09% Peer 4 Peer 12 Peer 10 Peer 5 Peer 11 Peer 1 Peer 3 Peer 2 Peer 7 Peer 6 FITB 3Q24 LTM FITB 4Q24 LTM As of 9/30/24 unless otherwise noted As of 9/30/24 unless otherwise noted 3Q24 LTM unless otherwise noted For end note descriptions, see end note summary starting on page 42

© Fifth Third Bancorp | All Rights Reserved 16% 16% 65% 4Q23 3Q24 4Q24 NCO ratio1 0.64% 0.62% 0.68% 30-89 Delinquencies 0.63% 0.52% 0.54% 90+ Delinquencies 0.06% 0.06% 0.06% Nonperforming Loans2 0.73% 0.77% 0.79% Weighted average FICO at origination3 765 767 767 Weighted average LTV at origination 78% 79% 79% Total consumer portfolio overview 24 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 42; totals shown above may not foot due to rounding (1.4%) (0.2%) 0.3% 0.8% 1.9% (1.1%) 0.2% 0.5% 1.7% 2.1% 750+720-749<660 660-719 $44.6 $44.5 $44.7 $45.1 $45.9 $44.5 $44.6 $44.8 $45.5 $46.5 4Q23 1Q24 2Q24 3Q24 4Q24 2% Period-endAverage

© Fifth Third Bancorp | All Rights Reserved 12% 15% 69% 4Q23 3Q24 4Q24 NCO ratio1 (0.01%) (0.02%) (0.01%) 30-89 Delinquencies 0.18% 0.16% 0.19% 90+ Delinquencies 0.04% 0.05% 0.03% Nonperforming Loans2 0.73% 0.76% 0.78% Weighted average FICO at origination3 764 764 764 Weighted average LTV at origination 72% 73% 74% Residential Mortgage overview 25 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 42; totals shown above may not foot due to rounding (1.6%) (0.9%) 0.2% 0.2% 1.7% (1.5%) (0.2%) 0.3% 0.7% 2.2% 750+720-749<660 660-719 $17.1 $17.0 $17.0 $17.0 $17.3$17.0 $17.0 $17.0 $17.2 $17.5 4Q23 1Q24 2Q24 3Q24 4Q24 3% Period-endAverage

© Fifth Third Bancorp | All Rights Reserved 18% 16% 64% $3.9 $3.9 $3.9 $4.0 $4.1 $3.9 $3.9 $4.0 $4.1 $4.2 4Q23 1Q24 2Q24 3Q24 4Q24 4Q23 3Q24 4Q24 NCO ratio1 0.05% (0.02%) (0.01%) 30-89 Delinquencies 0.72% 0.56% 0.60% Nonperforming Loans2 1.46% 1.64% 1.67% Weighted average FICO at origination3 767 768 769 Weighted average LTV at origination 67% 66% 66% Home equity overview 26 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 42; totals shown above may not foot due to rounding 0.2% 0.7% (0.1%) 2.3% 2.7% 0.5% (0.8%) 2.2% 2.6% 2.8% 750+720-749<660 660-719 1% Period-endAverage

© Fifth Third Bancorp | All Rights Reserved 4Q23 3Q24 4Q24 NCO ratio1 0.64% 0.54% 0.66% 30-89 Delinquencies 1.00% 0.77% 0.80% Nonperforming Loans2 0.24% 0.31% 0.34% 81% 19% Auto Specialty Lending 19% 17% 64% Indirect secured consumer overview 27 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 42; totals shown above may not foot due to rounding $15.1 $15.2 $15.4 $15.7 $16.1 $15.0 $15.3 $15.4 $15.9 $16.3 4Q23 1Q24 2Q24 3Q24 4Q24 1% (4.2%) 0.3% 1.3% 2.0% 2.7% (3.0%) 2.3% 0.9% 3.2% 2.3% 750+720-749<660 660-719 Period-endAverage Weighted average FICO at origination 768 771 772 Weighted average LTV at origination 88% 88% 88%

© Fifth Third Bancorp | All Rights Reserved 4Q23 3Q24 4Q24 NCO ratio1 3.90% 3.74% 4.00% 30-89 Delinquencies 1.13% 1.17% 1.04% 90+ Delinquencies 1.13% 1.06% 1.15% Nonperforming Loans2 1.82% 1.82% 1.85% 27% 19% 49% Credit card overview 28 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 42; totals shown above may not foot due to rounding 1.2% (3.1%) (2.5%) (1.2%) (2.3%) 2.6% (6.9%) (0.2%) (1.7%) 1.8% $1.8 $1.8 $1.7 $1.7 $1.7 $1.9 $1.7 $1.7 $1.7 $1.7 4Q23 1Q24 2Q24 3Q24 4Q24 Weighted average FICO at origination3 743 743 744 5% Period-endAverage

© Fifth Third Bancorp | All Rights Reserved $3.6 $3.8 $3.9 $4.0 $4.1 $3.7 $3.9 $4.0 $4.1 $4.2 4Q23 1Q24 2Q24 3Q24 4Q24 15% 19% 66% 4Q23 3Q24 4Q24 NCO ratio1 1.09% 1.44% 1.64% 30-89 Delinquencies 0.48% 0.42% 0.48% Nonperforming Loans2 1.61% 1.57% 1.52% Weighted average FICO at origination 771 772 772 Solar energy installation overview 29 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 42; totals shown above may not foot due to rounding 11.9% 4.5% 3.2% 1.9% 3.7% 10.2% 3.8% 2.1% 3.2% 3.0% 750+720-749660-719 Period-endAverage

© Fifth Third Bancorp | All Rights Reserved 4Q23 1Q24 2Q24 3Q24 4Q24 Balance, beginning of period $281 $326 $372 $274 $334 Transfers to nonaccrual status 93 108 51 191 240 Transfers to accrual status — (1) — — (1) Transfers to held for sale — (3) — (5) (5) Loan paydowns/payoffs (20) (18) (66) (47) (49) Transfer to OREO — — — — — Charge-offs (30) (40) (83) (80) (63) Draws/other extensions of credit 2 — — 1 — Balance, end of period $326 $372 $274 $334 $456 4Q23 1Q24 2Q24 3Q24 4Q24 Balance, beginning of period $289 $323 $336 $332 $352 Transfers to nonaccrual status 141 111 94 104 101 Transfers to accrual status (24) (22) (26) (14) (13) Transfers to held for sale — — — — — Loan paydowns/payoffs (26) (23) (23) (25) (25) Transfer to OREO (7) (5) (4) (7) (7) Charge-offs (52) (49) (46) (40) (43) Draws/other extensions of credit 2 1 1 2 2 Balance, end of period $323 $336 $332 $352 $367 NPL1 Rollforward Commercial Consumer $ in millions $ in millions $ in millions For end note descriptions, see end note summary starting on page 42 30 Total NPL $649 $708 $606 $686 $823 Total new nonaccrual loans - HFI $234 $219 $145 $295 $341 Total NPL

© Fifth Third Bancorp | All Rights Reserved 30% 53% 17% 71% 17% 8% 4% • 55% allocation to bullet/ locked- out cash flow securities • AFS & HTM spot yield: 3.22% • AFS net unrealized pre-tax loss: $4.6BN $24.7BN fixed | $48.6BN variable 1,2 Commercial loans1,2 Balance sheet positioning 100% Fix | 0% Variable 87% Fix | 13% Variable Investment portfolioConsumer loans1 Long-term debt 3 $40.1BN fixed | $6.4BN variable 1 $9.4BN fixed | $5.0BN variable 3 • 1M based: 42% 4,7 • 3M based: 7% 4,7 • Prime & O/N based: 16% 4,7 • Other based: 1% 4,6,7 • Weighted avg. life: 1.7 years 1 • 1M based: 1% 5,7 • Prime: 12% 5 • Other based: 1% 5,7,8 • Weighted avg. life: 4 years1 • SOFR based: 35% • Weighted avg. life: 4.2 years C&I 34% Fix | 66% Variable Coml. mortgage 26% Fix | 74% Variable Coml. lease 100% Fix | 0% Variable Resi mtg.& construction 97% Fix | 3% Variable Home equity 12% Fix | 88% Variable Senior debt 58% Fix | 42% Variable Sub debt 58% Fix | 42% Variable Auto securiz. proceeds 92% Fix | 8% Variable Coml. construction 9% Fix | 91% Variable Credit card 37% Fix | 63% Variable Other 85% Fix | 15% Variable Other 97% Fix | 3% Variable Level 1 74% Fix | 26% Variable Level 2A Non-HQLA/ Other Includes $4.5BN non-agency CMBS (All super-senior, AAA-rated securities; 59.6% WA LTV, ~39% WA credit enhancement) Auto/Indirect 100% Fix | 0% Variable For end note descriptions, see end note summary starting on page 42; totals shown above may not foot due to rounding 31 35% 38% 9% 14% 4% 69% 12% 6% 13% The information above incorporates the impact of $11BN in C&I receive-fixed swaps, ~$1BN in CRE receive-fixed swaps2, and ~$5BN fair value hedges associated with long-term debt (receive-fixed swaps)

© 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 •Models are calibrated to performance in prior rate cycles •Additionally, rate risk measures assume no deposit re-pricing lags As of December 31, 2024: •46% of HFI loans were variable rate net of existing hedges (66% of total commercial; 14% of total consumer) •Short-term borrowings represent only 2% of total funding •Approximately $12.3BN in non-core funding matures beyond one year 32 % 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 (3.6%) (4.0%) (6.0%) (7.0%) +100 Ramp over 12 months (1.8%) (1.8%) NA NA -100 Ramp over 12 months 0.9% 0.2% NA NA -200 Ramp over 12 months 1.6% (0.3%) (6.0%) (7.0%) 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 (4.1%) (4.9%) (2.7%) (2.4%) +100 Ramp over 12 months (2.0%) (2.3%) (1.3%) (1.0%) -100 Ramp over 12 months 1.1% 0.5% 0.6% (0.4%) -200 Ramp over 12 months 1.9% 0.4% 0.9% (1.4%) 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 (4.5%) (5.0%) (2.7%) (3.0%) +100 Ramp over 12 months (2.6%) (2.7%) (0.9%) (1.0%) -100 Ramp over 12 months 0.3% (0.3%) 1.6% 0.8% -200 Ramp over 12 months 1.0% (0.6%) 2.1% 0.1% For end note descriptions, see end note summary starting on page 42

© Fifth Third Bancorp | All Rights Reserved 33 Investment portfolio composition Investment portfolio characteristics Held-to-maturity portfolio • $11.3BN 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 • $43.9BN portfolio • $4.5BN 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 20% AFS 80% AFS and HTM portfolio; amortized cost basis; as of 12/31/24 Amortized cost basis; as of 12/31/24 Securities mix Effective durationAgency CMBS Agency RMBS Non-agency CMBS Treasuries Other HTM 36% 43% — 21% — 5.5 AFS 54% 15% 10% 10% 11% 3.8 Total 51% 21% 8% 12% 9% 4.1 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 basis, including significant market distress in real estate valuations Totals shown above may not foot due to rounding

Classification: Internal Use © Fifth Third Bancorp | All Rights Reserved 10-year treasury yield ($5.8) ($4.1) ($4.2) ($4.2) ($3.3) ($4.0) 9/30/23 12/31/23 3/31/24 6/30/24 9/30/24 12/31/24 Projected AOCI accretion ($4.0) ($3.3) ($2.8) ($2.3) ($1.8) ($1.4) 12/31/24E 12/31/25E 12/31/26E 12/31/27E 12/31/28E 12/31/29E Securities portfolio AOCI accretion 34 $ in billions; 12/31/24 AFS and HTM portfolio unrealized loss, after-tax; For end note descriptions, see end note summary starting on page 42; totals shown above may not foot due to rounding ~55% capital accretion ~18% capital accretion Historical AOCI accretion ~31% capital accretion since 3Q23 AOCI accretion1 assuming implied forward curve2 4.6% 4.2%3.9% 4.4% 3.8% 4.6%

© Fifth Third Bancorp | All Rights Reserved $5,840 $3,280 $893 4.6% 4.6% AOCI loss from AFS portfolio Unamortized AOCI as a result of the HTM transfer 10-year treasury yield 9/30/2023 12/31/2024 Structure of securities portfolio drives continued AOCI accretion 35 • Unrealized losses on Available-for- Sale securities declined significantly from 3Q23 • Investment portfolio structure of bullet and locked-out securities provides certainty of cash flows, which reduces the loss position as these securities pull-to-par • Nearly a 30% reduction over 15 months despite similar 10-year US treasury yields FITB accumulated other comprehensive loss compared to the 10-Year Treasury yield For end note descriptions, see end note summary starting on page 42 $ millions on an end of period basis, net of tax; 10-year treasury yield close price 1 $4,173 (29%) 2

© Fifth Third Bancorp | All Rights Reserved 3.05% $8 $10 $9 $5 $4 $3 $3 $5 $5 $5 $5 $5 $5 $11 $15 $14 $10 $9 $8 4Q24 1Q25 1Q30 4Q30 2Q31 3Q31 4Q31 Cash flow hedges Receive-fixed swaps1 EOP notional value of cash flow hedges ($ in billions) Actual For end note descriptions, see end note summary starting on page 42 36 Forward starting receive-fixed swaps2 Existing receive-fixed swaps3 weighted average receive fixed rate 3.19%3.17% 3.27% 3.29% 3.32% 3.44%4

© Fifth Third Bancorp | All Rights Reserved $20 $14 $18 $18 $17 $79 $78 $78 $77 $75 $2 ($5) ($6) ($4) $3 ($35) ($33) ($40) ($41) ($38) $66 $54 $50 $50 $57 Origination fees and gains on loan sale Gross servicing fees Net MSR Valuation MSR decay 4Q23 1Q24 2Q24 3Q24 4Q24 Mortgage banking results $ in millions Mortgage banking net revenue Mortgage originations and margins • Mortgage banking net revenue was increased compared to the prior quarter, reflecting an increase in net MSR valuation offset by an increase in MSR asset decay and a decrease in gross servicing fees • $1.9 billion in originations, down 2% from the prior quarter and up 90% compared to the year-ago quarter; ~73% purchase volume Note: totals shown above may not foot due to rounding $ in billions 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. 37 $66 $54 $50 $50Mortgage banking net revenue $57 1.34% 1.29% 1.53% 1.68% 1.30% 1.48% 1.11% 1.00% .98% 1.00% $1.0 $1.1 $1.6 $1.9 $1.9 $0.8 $0.7 $1.0 $1.3 $1.2 $0.2 $0.4 $0.6 $0.6 $0.6 Originations HFS Originations HFI 4Q23 1Q24 2Q24 3Q24 4Q24

© Fifth Third Bancorp | All Rights Reserved Preferred dividend schedule 1Q25 2Q25 3Q25 4Q25 Series H ~$11 ~$11 ~$11 ~$11 Series I ~$9 ~$9 ~$9 ~$9 Series J ~$6 ~$6 ~$6 ~$6 Series K ~$3 ~$3 ~$3 ~$3 Series L3 ~$4 ~$4 ~$4 ~$8 Class B Series A ~$3 ~$3 ~$3 ~$3 Total ~$37 ~$36 ~$36 ~$40 Upcoming preferred dividend schedule1 $ in millions For end note descriptions, see end note summary starting on page 42; totals shown above may not foot due to rounding 38 Floating2 Floating2 Floating2

© Fifth Third Bancorp | All Rights Reserved 4Q24 adjustments and notable items Adjusted EPS of $0.901 For end note descriptions, see end note summary starting on page 42 4Q24 reported EPS of $0.85 included a negative $0.05 impact from the following notable items: • $55 million pre-tax (~$42 million after-tax2) charge related to interchange litigation matters • $15 million pre-tax (~$12 million after-tax2) charge related to Fifth Third Foundation contribution expense • $11 million pre-tax (~$8 million after-tax2) benefit related to the FDIC special assessment • $15 million benefit related to the resolution of certain state income tax matters 39

© Fifth Third Bancorp | All Rights Reserved Fifth Third Bancorp and Subsidiaries For the Three Months Ended For the Year Ended $ and shares in millions December September June March December (unaudited) 2024 2024 2024 2024 2023 2024 Net income (U.S. GAAP) (a) $620 $573 $601 $520 $530 $2,314 Net income (U.S. GAAP) (annualized) (b) $2,467 $2,280 $2,417 $2,091 $2,103 $2,314 Net income available to common shareholders (U.S. GAAP) (c) $582 $532 $561 $480 $492 $2,155 Add: Intangible amortization, net of tax 7 7 7 8 8 28 Tangible net income available to common shareholders (d) $589 $539 $568 $488 $500 $2,183 Tangible net income available to common shareholders (annualized) (e) $2,343 $2,144 $2,284 $1,963 $1,984 $2,183 Net income available to common shareholders (annualized) (f) $2,315 $2,116 $2,256 $1,931 $1,952 $2,155 Average Bancorp shareholders' equity (U.S. GAAP) (g) $19,893 $20,251 $18,707 $18,727 $17,201 $19,398 Less: Average preferred stock (h) (2,116) (2,116) (2,116) (2,116) (2,116) (2,116) Average goodwill (4,918) (4,918) (4,918) (4,918) (4,919) (4,918) Average intangible assets and other servicing rights (94) (103) (111) (121) (130) (107) Average tangible common equity (i) $12,765 $13,114 $11,562 $11,572 $10,036 $12,257 Less: Average accumulated other comprehensive income ("AOCI") 4,292 3,914 5,278 4,938 6,244 4,603 Average tangible common equity, excluding AOCI (j) $17,057 $17,028 $16,840 $16,510 $16,280 $16,860 Adjustments (pre-tax items) Valuation of Visa total return swap 51 47 23 17 22 138 Interchange litigation matters 4 10 — 5 — 19 Restructuring severance expense — 9 — — 5 9 Legal settlements and remediations — — 18 14 — 32 FDIC special assessment (11) — 6 33 224 28 Fifth Third Foundation contribution 15 — — — 15 15 Adjustments - after-tax1,2 (k) $46 $51 $37 $55 $205 $186 Adjustments (tax related items) Benefit related to the resolution of certain state income tax matters (15) — — — (17) (15) Adjustments (tax related items) (l) (15) — — — (17) (15) Adjusted net income [(a) + (k)+ (l)] $650 $624 $638 $575 $718 $2,485 Adjusted net income (annualized) (m) $2,586 $2,482 $2,566 $2,313 $2,849 $2,485 Adjusted net income available to common shareholders [(c) + (k) + (l)] $613 $583 $598 $535 $680 $2,326 Adjusted net income available to common shareholders (annualized) (n) $2,439 $2,319 $2,405 $2,152 $2,698 $2,326 Adjusted tangible net income available to common shareholders [(d) + (k) + (l)] 619 $590 $605 $543 $688 $2,354 Adjusted tangible net income available to common shareholders (annualized) (o) $2,463 $2,347 $2,433 $2,184 $2,730 $2,354 Average assets (p) $211,709 $213,838 $212,475 $213,203 $214,057 $212,806 Metrics: Return on assets (b) / (p) 1.17% 1.07% 1.14% 0.98% 0.98% 1.09% Adjusted return on assets (m) / (p) 1.22% 1.16% 1.21% 1.08% 1.33% 1.17% Return on average common equity (f) / [(g) + (h)] 13.0% 11.7% 13.6% 11.6% 12.9% 12.5% Adjusted return on average common equity (n) / [(g) + (h)] 13.7% 12.8% 14.5% 13.0% 17.9% 13.5% Return on average tangible common equity (e) / (i) 18.4% 16.3% 19.8% 17.0% 19.8% 17.8% Adjusted return on average tangible common equity (o) / (i) 19.3% 17.9% 21.0% 18.9% 27.2% 19.2% Adjusted return on average tangible common equity, excluding AOCI (o) / (j) 14.4% 13.8% 14.4% 13.2% 16.8% 14.0% For end note descriptions, see end note summary starting on page 42; totals shown above may not foot due to rounding 40 Non-GAAP reconciliation

© Fifth Third Bancorp | All Rights Reserved Non-GAAP reconciliation For end note descriptions, see end note summary starting on page 42; totals shown above may not foot due to rounding 41 Fifth Third Bancorp and Subsidiaries For Three Months Ended For the Year Ended $ and shares in millions December September June March December (unaudited) 2024 2024 2024 2024 2023 2024 Average interest-earning assets (a) $193,513 $195,836 $194,499 $195,349 $198,166 $194,800 Net interest income (U.S. GAAP) (b) $1,437 $1,421 $1,387 $1,384 $1,416 $5,630 Add: Taxable equivalent adjustment 6 6 6 6 7 24 Net interest income (FTE) (c) $1,443 $1,427 $1,393 $1,390 $1,423 $5,654 Legal settlements and remediations — — 5 — — 5 Adjusted net interest income (FTE) (d) $1,443 $1,427 $1,398 $1,390 $1,423 $5,658 Net interest income (FTE) (annualized) (e) $5,741 $5,677 $5,603 $5,591 $5,646 $5,654 Adjusted net interest income (FTE) (annualized) (f) $5,741 $5,677 $5,623 $5,591 $5,646 $5,658 Noninterest income (U.S. GAAP) (g) $732 $711 $695 $710 $744 $2,849 Valuation of Visa total return swap 51 47 23 17 22 138 Legal settlements and remediations — — 2 — — 2 Adjusted noninterest income (h) $783 $758 $720 $727 $766 $2,989 Add: Securities (gains)/losses 8 (10) (3) (10) (16) (15) Adjusted noninterest income, (excl. securities (gains)/losses) $791 $748 $717 $717 $750 $2,973 Noninterest expense (U.S. GAAP) (i) $1,226 $1,244 $1,221 $1,342 $1,455 $5,033 Interchange litigation matters (4) (10) — (5) — (19) Restructuring severance expense — (9) — — (5) (9) Legal settlements and remediations — — (11) (14) — (25) FDIC Special Assessment 11 — (6) (33) (224) (28) Fifth Third Foundation contribution (15) — — — (15) (15) Adjusted noninterest expense (j) $1,218 $1,225 $1,204 $1,290 $1,211 $4,937 Metrics: Revenue (FTE) (c) + (g) 2,175 2,138 2,088 2,100 2,167 8,503 Adjusted revenue (d) + (h) 2,226 2,185 2,118 2,117 2,189 8,647 Pre-provision net revenue [(c) + (g) - (i)] 949 894 867 758 712 3,470 Adjusted pre-provision net revenue [(d) + (h) - (j)] 1,008 960 914 827 978 3,710 Net interest margin (FTE) (e) / (a) 2.97% 2.90% 2.88% 2.86% 2.85% 2.90% Adjusted net interest margin (FTE) (f) / (a) 2.97% 2.90% 2.89% 2.86% 2.85% 2.90% Efficiency ratio (FTE) (i) / [(c) + (g)] 56.4% 58.2% 58.5% 63.9% 67.2% 59.2% Adjusted efficiency ratio (j) / [(d) + (h)] 54.7% 56.1% 56.8% 60.9% 55.3% 57.1%

© 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 40 and 41 of this presentation and the use of non-GAAP measures on pages 27-29 of the earnings release. 2. Current period regulatory capital ratios are estimated. Slide 4 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 27-29 of the earnings release. Slide 5 end notes 1. Results are on a fully-taxable equivalent basis; non-GAAP measure: see reconciliation on pages 40 and 41 of this presentation and use of non-GAAP measures on pages 27-29 of the earnings release. Slide 6 end notes 1. Non-GAAP measure: see reconciliation on pages 40 and 41 of this presentation and use of non-GAAP measures on pages 27-29 of the earnings release. Slide 7 end notes 1. Excluding securities gains/losses 2. Non-GAAP measure: see reconciliation on pages 40 and 41 of this presentation and use of non-GAAP measures on pages 27-29 of the earnings release Slide 8 end notes 1. Non-GAAP measure: see reconciliation on pages 40 and 41 of this presentation and use of non-GAAP measures on pages 27-29 of the earnings release. Slide 9 end notes 1. Includes taxable and tax-exempt securities. Slide 11 end notes 1. Excludes 2020, 2021, and 2022 metrics. 2. Loan balances exclude nonaccrual loans HFS Slide 12 end notes 1. Excludes HFS loans. Slide 13 end notes 1. 4Q24 commercial and consumer portfolio make up ~$90M and ~$44M, respectively, of the total reserve for unfunded commitment. Slide 14 end notes 1. Current period regulatory capital ratios are estimated. 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 27-29 of the earnings release. Slide 16 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 27-29 of the earnings release. Slide 19 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. 42 Earnings presentation end notes

© Fifth Third Bancorp | All Rights Reserved Earnings presentation end notes Slide 20 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 22 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 23 end notes 1. Source: FR Y-9C; CRE includes the following captions within schedule HC-C: 1a - construction, land development & other land loans, 1d - secured by multifamily (5 or more) residential properties, 1e - secured by nonfarm nonresidential properties 2. Source: company filings; FCNCA and MTB excluded due to limited data Slide 24 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 25 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 26 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 27 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 28 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 29 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 30 end notes 1. Loan balances exclude nonaccrual loans HFS. 43

© Fifth Third Bancorp | All Rights Reserved Slide 31 end notes Note: Data as of 12/31/2024. 1. Excludes HFS Loans & Leases. 2. Fifth Third had $12B of commercial variable loans classified as fixed given the impacts of $11BN in C&I receive-fix swaps and $1BN in CRE receive-fixed swaps (effective 1/3/25); Excludes $3BN in CRE forward starting receive-fixed swaps (effective 2/3/25). 3. Fifth Third had $4.96BN SOFR receive-fix swaps outstanding against long-term debt, which are being included in floating long-term debt. 4. As a percent of total commercial. 5. As a percent of total consumer. 6. Includes 12M term, 6M term, and Fed Funds based loans. 7. Term points include SOFR, BSBY, AMERIBOR, Treasuries & FX curves. 8. Includes overnight term, 3M term, 6M term, 12M term and Fed Funds. Slide 32 end notes Note: Data as of 12/31/24; 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% Slide 34 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 27-29 of the earnings release. 2. Analysis based on 12/31/2024 portfolio utilizing the implied forward curve as of 12/31/2024 Slide 35 end notes 1. Balances as of 12/31/2024 include the unamortized position of the $994MM impact due to the transfer of $12.6BN of securities from AFS to HTM on January 3, 2024 2. Assumes a 24% tax rate Slide 36 end notes 1. Represents forward looking statement, please refer to page 2 of this presentation regarding forward-looking non-GAAP measures 2. Forward starting swaps are receive fixed / pay compound SOFR + 11.448 bps 3. 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 4. Reflects the weighted average receive fixed rate (swaps only) as of 12/31/24 Slide 38 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. 3. The Series L preferred shares may be redeemed on or after 9/30/2025, otherwise the dividend rate will reset from the current fixed rate of 4.50% to the then 5-year US Treasury yield + 4.215%. Slide 39 end notes 1. Average diluted common shares outstanding (thousands); 681,456; 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 27-29 of the earnings release. 2. Assumes a 23% tax rate. Slide 40 end notes Note: See pages 27-29 of the earnings release for a discussion on the use of non-GAAP financial measures. 1. Assumes a 23% tax rate. 2. A portion of the adjustments related to legal settlements and remediations is non tax deductible. Slide 41 end notes Note: See pages 27-29 of the earnings release for a discussion on the use of non-GAAP financial measures. 44 Earnings presentation end notes

Cover Page	Jan. 21, 2025
Entity Information [Line Items]
Document Type	8-K
Document Period End Date	Jan. 21, 2025
Entity Registrant Name	Fifth Third Bancorp
Amendment Flag	false
Entity Central Index Key	0000035527
Entity Incorporation, State or Country Code	OH
Entity File Number	001-33653
Entity Tax Identification Number	31-0854434
Entity Address, Address Line One	Fifth Third Center
Entity Address, Address Line Two	38 Fountain Square Plaza
Entity Address, City or Town	Cincinnati
Entity Address, State or Province	OH
Entity Address, Postal Zip Code	45263
City Area Code	800
Local Phone Number	972-3030
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Entity Emerging Growth Company	false
Common Stock
Entity Information [Line Items]
Title of 12(b) Security	Common Stock, Without Par Value
Trading Symbol	FITB
Security Exchange Name	NASDAQ
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
Entity Information [Line Items]
Title of 12(b) Security	Depositary Shares Representing a 1/1000th Ownership Interest in a Share of 6.625% Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock
Trading Symbol	FITBI
Security Exchange Name	NASDAQ
Depositary Shares Representing a 1/40th Ownership Interest in a Share of 6.00% Non-Cumulative Perpetual Class B Preferred Stock, Series A
Entity Information [Line Items]
Title of 12(b) Security	Depositary Shares Representing a 1/40th Ownership Interest in a Share of 6.00% Non-Cumulative Perpetual Class B Preferred Stock, Series A
Trading Symbol	FITBP
Security Exchange Name	NASDAQ
Depositary Shares Representing a 1/1000th Ownership Interest in a Share of 4.95% Non-Cumulative Perpetual Preferred Stock, Series K
Entity Information [Line Items]
Title of 12(b) Security	Depositary Shares Representing a 1/1000th Ownership Interest in a Share of 4.95% Non-Cumulative Perpetual Preferred Stock, Series K
Trading Symbol	FITBO
Security Exchange Name	NASDAQ

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