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): July 19, 2024

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 July 19, 2024, Fifth Third Bancorp issued a press release announcing its earnings release for the second 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 July 19, 2024

Exhibit 99.2 – Second 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: July 19, 2024						/s/ Bryan D. Preston

						Bryan D. Preston
						Executive Vice President and Chief Financial Officer

Fifth Third Bancorp Reports Second Quarter 2024 Diluted Earnings Per Share of $0.81

Resilient balance sheet and disciplined expense management leads to strong and stable returns

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
	2Q24		1Q24		2Q23		Stability: •Continued repricing benefit on fixed rate loan portfolio and moderating deposit costs drove increased net interest income and net interest margin compared to prior quarter •Strong profitability resulted in CET1 increasing to 10.60% while also executing $125 million share repurchase •Fifth consecutive quarter of CRE NCO ratio below 1 bp Profitability: •Strong fee performance in wealth and asset management revenue (up 11%) and commercial payments revenue (up 12%) compared to 2Q23 •Interest-bearing core deposit costs up only 4 bps compared to 1Q24 •Disciplined expense management; expenses decreased 1% compared to 2Q23 Growth: •Generated consumer household growth of 3% compared to 2Q23, including 6% in the Southeast •Fifth Third Wealth Advisors grew assets under management over 50% to $1.7 billion

Income Statement Data
Net income available to common shareholders	$561		$480		$562
Net interest income (U.S. GAAP)	1,387		1,384		1,457
Net interest income (FTE)(a)	1,393		1,390		1,463
Noninterest income	695		710		726
Noninterest expense	1,221		1,342		1,231

Per Share Data
Earnings per share, basic	$0.82		$0.70		$0.82
Earnings per share, diluted	0.81		0.70		0.82
Book value per share	25.13		24.72		23.05
Tangible book value per share(a)	17.75		17.35		15.61

Balance Sheet & Credit Quality
Average portfolio loans and leases	$116,891		$117,334		$123,327
Average deposits	167,194		168,122		160,857
Accumulated other comprehensive loss	(4,901)		(4,888)		(5,166)
Net charge-off ratio(b)	0.49	%	0.38	%	0.29	%
Nonperforming asset ratio(c)	0.55		0.64		0.54

Financial Ratios
Return on average assets	1.14	%	0.98	%	1.17	%
Return on average common equity	13.6		11.6		13.9
Return on average tangible common equity(a)	19.8		17.0		20.5
CET1 capital(d)(e)	10.60		10.47		9.49
Net interest margin(a)	2.88		2.86		3.10
Efficiency(a)	58.5		63.9		56.2
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’s financial results once again demonstrated our resilient profitability, well-managed liquidity, and diversified revenue streams.

Our core deposit funded balance sheet generated improved net interest income and margin. Our strong liquidity position continues to provide flexibility to navigate through uncertain economic and regulatory environments. Our net charge-offs were as expected for the quarter and our nonperforming assets decreased.

We continue to invest in our Southeast expansion, Commercial Payments, and Wealth and Asset Management businesses, leading to continued strong acquisition of new quality relationships in commercial and consumer households. We remain disciplined in managing expenses, which were well managed from the prior year.

Our strong and stable returns resulted in achieving our capital targets during the second quarter, which enabled us to execute a $125 million share repurchase in June while continuing to grow our capital.

We remain well-positioned to respond to a range of economic outcomes and will continue to 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 July 19, 2024


Income Statement Highlights
($ in millions, except per share data)	For the Three Months Ended			% Change
	June	March	June
	2024	2024	2023	Seq	Yr/Yr
Condensed Statements of Income
Net interest income (NII)(a)	$1,393	$1,390	$1,463	—	(5)%
Provision for credit losses	97	94	177	3%	(45)%
Noninterest income	695	710	726	(2)%	(4)%
Noninterest expense	1,221	1,342	1,231	(9)%	(1)%
Income before income taxes(a)	$770	$664	$781	16%	(1)%

Taxable equivalent adjustment	$6	$6	$6	—	—
Applicable income tax expense	163	138	174	18%	(6)%
Net income	$601	$520	$601	16%	—
Dividends on preferred stock	40	40	39	—	3%
Net income available to common shareholders	$561	$480	$562	17%	—
Earnings per share, diluted	$0.81	$0.70	$0.82	16%	(1)%

Fifth Third Bancorp (NASDAQ®: FITB) today reported second quarter 2024 net income of $601 million compared to net income of $520 million in the prior quarter and $601 million in the year-ago quarter. Net income available to common shareholders in the current quarter was $561 million, or $0.81 per diluted share, compared to $480 million, or $0.70 per diluted share, in the prior quarter and $562 million, or $0.82 per diluted share, in the year-ago quarter.

Diluted earnings per share impact of certain item(s) - 2Q24

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

Valuation of Visa total return swap

$(18)

Legal settlements and remediations

(14)

Update to the FDIC special assessment

(5)

After-tax impact(f) of certain items

$(37)

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 691.083 million average diluted shares outstanding

Items above decreased net interest income by $5 million and noninterest income by $25 million and increased noninterest expense by $17 million


Net Interest Income
(FTE; $ in millions)(a)	For the Three Months Ended						% Change
	June		March		June
	2024		2024		2023		Seq	Yr/Yr
Interest Income
Interest income	$2,626		$2,614		$2,376		—	11%
Interest expense	1,233		1,224		913		1%	35%
Net interest income (NII)	$1,393		$1,390		$1,463		—	(5)%
NII excluding certain items(a)	$1,398		$1,390		$1,463		1%	(4)%

Average Yield/Rate Analysis							bps Change
Yield on interest-earning assets	5.43	%	5.38	%	5.04	%	5	39
Rate paid on interest-bearing liabilities	3.39	%	3.36	%	2.72	%	3	67

Ratios
Net interest rate spread	2.04	%	2.02	%	2.32	%	2	(28)
Net interest margin (NIM)	2.88	%	2.86	%	3.10	%	2	(22)
NIM excluding certain items(a)	2.89	%	2.86	%	3.10	%	3	(21)

Compared to the prior quarter, NII increased $3 million. Excluding the $5 million reduction related to the customer remediations, NII was up $8 million, or 1%, primarily reflecting the increased yields on new production of fixed-rate consumer loans and higher C&I loan yields, partially offset by lower average commercial loan balances and continued, but slowing, mix shift from demand deposits to interest-bearing accounts. Compared to the prior quarter, NIM increased 2 bps. Excluding the aforementioned customer remediations, NIM increased 3 bps, primarily reflecting the net benefit of higher market rates and higher loan yields, partially offset by commercial demand deposit runoff. NIM results continue to be impacted by the decision to carry elevated liquidity given the environment, with the combination of cash and other short-term investments of approximately $24 billion at quarter-end.

Compared to the year-ago quarter, NII decreased $70 million, or 5%. Excluding the aforementioned customer remediations, NII decreased $65 million, or 4%, reflecting the impact of higher funding costs and deposit mix shift from demand to interest-bearing accounts, partially offset by higher loan yields. Compared to the year-ago quarter, NIM decreased 22 bps. Excluding the aforementioned customer remediations, NIM decreased 21 bps, reflecting the impact of higher market rates and their effects on deposit pricing and the decision to carry additional cash, partially offset by higher loan yields.


Noninterest Income
($ in millions)	For the Three Months Ended			% Change
	June	March	June
	2024	2024	2023	Seq	Yr/Yr
Noninterest Income
Service charges on deposits	$156	$151	$144	3%	8%
Commercial banking revenue	144	143	146	1%	(1)%
Mortgage banking net revenue	50	54	59	(7)%	(15)%
Wealth and asset management revenue	159	161	143	(1)%	11%
Card and processing revenue	108	102	106	6%	2%
Leasing business revenue	38	39	47	(3)%	(19)%
Other noninterest income	37	50	74	(26)%	(50)%
Securities gains, net	3	10	7	(70)%	(57)%


Total noninterest income	$695	$710	$726	(2)%	(4)%

Reported noninterest income decreased $15 million, or 2%, from the prior quarter, and decreased $31 million, or 4%, from the year-ago quarter. The reported results reflect the impact of certain items in the table below, including securities gains/losses which incorporate mark-to-market impacts from securities associated with non-qualified deferred compensation plans.


Noninterest Income excluding certain items
($ in millions)	For the Three Months Ended
	June	March	June	% Change
	2024	2024	2023	Seq	Yr/Yr
Noninterest Income excluding certain items
Noninterest income (U.S. GAAP)	$695	$710	$726
Valuation of Visa total return swap	23	17	30
Legal settlements and remediations	2	—	—
Securities (gains) losses, net	(3)	(10)	(7)
Noninterest income excluding certain items(a)	$717	$717	$749	—	(4)%

Noninterest income excluding certain items was stable compared to the prior quarter, and decreased $32 million, or 4%, from the year-ago quarter.

Compared to the prior quarter, service charges on deposits increased $5 million, or 3%, primarily reflecting an increase in commercial payments revenue. Commercial banking revenue increased $1 million, or 1%, primarily reflecting increases in client financial risk management revenue and M&A advisory revenue, partially offset by a decrease in loan syndication revenue. Mortgage banking net revenue decreased $4 million, or 7%, primarily reflecting an increase in MSR asset decay, partially offset by an increase in origination fees and gains on loan sales. Wealth and asset management revenue decreased $2 million, or 1%, primarily driven by strong tax season-related revenue in the prior quarter, partially offset by an increase in personal asset management revenue. Card and processing revenue increased $6 million, or 6%, driven by an increase in interchange revenue.

Compared to the year-ago quarter, service charges on deposits increased $12 million, or 8%, primarily reflecting an increase in commercial payments revenue. Commercial banking revenue decreased $2 million, or 1%, primarily reflecting decreases in client financial risk management revenue and loan syndication revenue, partially offset by an increase in corporate bond fees. Mortgage banking net revenue decreased $9 million, or 15%, primarily reflecting decreases in origination fees and gains on loan sales and MSR net valuation adjustments. Wealth and asset management revenue increased $16 million, or 11%, primarily reflecting increases in personal asset management revenue and brokerage fees. Leasing business revenue decreased $9 million, or 19%, reflecting a decrease in operating lease revenue. Other noninterest income decreased $37 million, or 50%, due to equity fund and direct investment gains in 2023.


Noninterest Expense
($ in millions)	For the Three Months Ended			% Change
	June	March	June
	2024	2024	2023	Seq	Yr/Yr
Noninterest Expense
Compensation and benefits	$656	$753	$650	(13)%	1%
Net occupancy expense	83	87	83	(5)%	—
Technology and communications	114	117	114	(3)%	—
Equipment expense	38	37	36	3%	6%
Card and processing expense	21	20	20	5%	5%
Leasing business expense	22	25	31	(12)%	(29)%
Marketing expense	34	32	31	6%	10%
Other noninterest expense	253	271	266	(7)%	(5)%
Total noninterest expense	$1,221	$1,342	$1,231	(9)%	(1)%

Reported noninterest expense decreased $121 million, or 9%, from the prior quarter, and decreased $10 million, or 1%, from the year-ago quarter. The reported results reflect the impact of certain items in the table below.


Noninterest Expense excluding certain item(s)
($ in millions)	For the Three Months Ended			% Change
	June	March	June
	2024	2024	2023	Seq	Yr/Yr
Noninterest Expense excluding certain item(s)
Noninterest expense (U.S. GAAP)	$1,221	$1,342	$1,231
Legal settlements and remediations	(11)	(19)	(12)
FDIC special assessment	(6)	(33)	—
Restructuring severance expense	—	—	(12)
Noninterest expense excluding certain item(s)(a)	$1,204	$1,290	$1,207	(7)%	—

Compared to the prior quarter, noninterest expense excluding certain items decreased $86 million, or 7%, primarily reflecting a seasonal decrease in compensation and benefits expense. Noninterest expense in the current quarter included a $4 million expense related to the impact of non-qualified deferred compensation mark-to-market compared to a $15 million expense in the prior quarter, both of which were largely offset in net securities gains through noninterest income.

Compared to the year-ago quarter, noninterest expense excluding certain items was flat, primarily reflecting decreases in leasing business expense and other noninterest expense (excluding the aforementioned certain items), offset by increases in compensation and benefits expense and marketing expense. The year-ago quarter included a $10 million expense related to the impact of non-qualified deferred compensation mark-to-market, which was largely offset in net securities gains through noninterest income.


Average Interest-Earning Assets
($ in millions)	For the Three Months Ended			% Change
	June	March	June
	2024	2024	2023	Seq	Yr/Yr
Average Portfolio Loans and Leases
Commercial loans and leases:
Commercial and industrial loans	$52,357	$53,183	$58,137	(2)%	(10)%
Commercial mortgage loans	11,352	11,339	11,373	—	—
Commercial construction loans	5,917	5,732	5,535	3%	7%
Commercial leases	2,575	2,542	2,700	1%	(5)%
Total commercial loans and leases	$72,201	$72,796	$77,745	(1)%	(7)%
Consumer loans:
Residential mortgage loans	$17,004	$16,977	$17,517	—	(3)%
Home equity	3,929	3,933	3,937	—	—
Indirect secured consumer loans	15,373	15,172	16,281	1%	(6)%
Credit card	1,728	1,773	1,783	(3)%	(3)%
Solar energy installation loans	3,916	3,794	2,787	3%	41%
Other consumer loans	2,740	2,889	3,277	(5)%	(16)%
Total consumer loans	$44,690	$44,538	$45,582	—	(2)%
Total average portfolio loans and leases	$116,891	$117,334	$123,327	—	(5)%

Average Loans and Leases Held for Sale
Commercial loans and leases held for sale	$33	$74	$19	(55)%	74%
Consumer loans held for sale	359	291	641	23%	(44)%
Total average loans and leases held for sale	$392	$365	$660	7%	(41)%

Total average loans and leases	$117,283	$117,699	$123,987	—	(5)%

Securities (taxable and tax-exempt)	$56,607	$56,456	$57,267	—	(1)%
Other short-term investments	20,609	21,194	7,806	(3)%	164%
Total average interest-earning assets	$194,499	$195,349	$189,060	—	3%

Compared to the prior quarter, total average portfolio loans and leases were stable. Average commercial portfolio loans and leases decreased 1%, primarily reflecting a decrease in C&I loan balances due to lower demand from corporate borrowers. Average consumer portfolio loans were stable, primarily reflecting an increase in indirect consumer loan balances, offset by a decrease in other consumer loan balances.

Compared to the year-ago quarter, total average portfolio loans and leases decreased 5%, reflecting decreases in both the commercial and consumer portfolios. Average commercial portfolio loans and leases decreased 7%, primarily reflecting a decrease in C&I loan balances. Average consumer portfolio loans decreased 2%, primarily reflecting decreases in indirect secured consumer loan balances, residential mortgage loan balances, and other consumer loan balances, partially offset by an increase in solar energy installation loan 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 $21 billion in the current quarter decreased 3% compared to the prior quarter and increased 164% compared to the year-ago quarter.

Period-end commercial portfolio loans and leases of $72 billion were stable compared to the prior quarter, primarily reflecting increases in commercial lease balances and commercial mortgage loan balances, offset by a decrease in C&I loan balances. Compared to the year-ago quarter, period-end commercial portfolio loans and leases decreased 6%, primarily reflecting a decrease in C&I loan balances. Period-end commercial revolving line utilization was 36%, compared to 36% in the prior quarter and 35% in the year-ago quarter.

Period-end consumer portfolio loans of $45 billion increased 1% compared to the prior quarter, reflecting increases in indirect secured consumer loan balances and home equity loan balances, partially offset by a decrease in other consumer loan balances. Compared to the year-ago quarter, period-end consumer portfolio loans decreased 2%, reflecting decreases in indirect secured consumer loan balances and other consumer loan balances, partially offset by an increase in solar energy installation loan balances.

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 the year-ago quarter. Period-end other short-term investments of approximately $21 billion decreased 8% compared to the prior quarter, and increased 93% compared to the year-ago quarter.


Average Deposits
	($ in millions)	For the Three Months Ended			% Change
		June	March	June
		2024	2024	2023	Seq	Yr/Yr
	Average Deposits
	Demand	$40,266	$40,839	$46,520	(1)%	(13)%
	Interest checking	57,999	58,677	50,472	(1)%	15%
	Savings	17,747	18,107	21,675	(2)%	(18)%
	Money market	35,511	34,589	28,913	3%	23%
	Foreign office(g)	157	145	143	8%	10%
	Total transaction deposits	$151,680	$152,357	$147,723	—	3%
	CDs $250,000 or less	10,767	10,244	7,759	5%	39%
	Total core deposits	$162,447	$162,601	$155,482	—	4%
	CDs over $250,000	4,747	5,521	5,375	(14)%	(12)%

	Total average deposits	$167,194	$168,122	$160,857	(1)%	4%
	CDs over $250,000 includes $3.8BN, $4.7BN, and $4.9BN of retail brokered certificates of deposit which are fully covered by FDIC insurance for the three months ended 6/30/24, 3/31/24, and 6/30/23, respectively.

Compared to the prior quarter, total average deposits decreased 1%, primarily reflecting the seasonal impact of tax payments, partially offset by an increase in money market balances. Average demand deposits represented 25% of total core deposits in the current quarter, consistent with the prior quarter. Compared to the prior quarter, average consumer segment deposits increased 2%, average commercial segment deposits decreased 2%, and average wealth & asset management segment deposits decreased 2%. Period-end total deposits decreased 2% compared to the prior quarter.

Compared to the year-ago quarter, total average deposits increased 4%, primarily reflecting increases in interest checking and money market balances, partially offset by decreases in demand account balances and savings balances. Period-end total deposits increased 2% compared to the year-ago quarter.

The period-end portfolio loan-to-core deposit ratio was 72% in the current quarter, compared to 71% in the prior quarter and 77% in the year-ago quarter. Estimated uninsured deposits were approximately $72 billion, or 43% of total deposits, as of quarter end.


Average Wholesale Funding
	($ in millions)	For the Three Months Ended			% Change
		June	March	June
		2024	2024	2023	Seq	Yr/Yr
	Average Wholesale Funding
	CDs over $250,000	$4,747	$5,521	$5,375	(14)%	(12)%

	Federal funds purchased	230	201	376	14%	(39)%
	Securities sold under repurchase agreements	373	366	361	2%	3%
	FHLB advances	3,165	3,111	6,589	2%	(52)%
	Derivative collateral and other secured borrowings	54	57	79	(5)%	(32)%
	Long-term debt	15,611	15,515	12,848	1%	22%
	Total average wholesale funding	$24,180	$24,771	$25,628	(2)%	(6)%
	CDs over $250,000 includes $3.8BN, $4.7BN, and $4.9BN of retail brokered certificates of deposit which are fully covered by FDIC insurance for the three months ended 6/30/24, 3/31/24, and 6/30/23, respectively.

Compared to the prior quarter, average wholesale funding decreased 2%, primarily reflecting a decrease in CDs over $250,000. Compared to the year-ago quarter, average wholesale funding decreased 6%, primarily reflecting a decrease in FHLB advances, partially offset by an increase in long-term debt.


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

Total nonaccrual portfolio loans and leases (NPLs)	$606		$708		$649		$570		$629
Repossessed property	9		8		10		11		8
OREO	28		27		29		31		24
Total nonperforming portfolio loans and leases and OREO (NPAs)	$643		$743		$688		$612		$661

NPL ratio(h)	0.52	%	0.61	%	0.55	%	0.47	%	0.52	%
NPA ratio(c)	0.55	%	0.64	%	0.59	%	0.51	%	0.54	%

Portfolio loans and leases 30-89 days past due (accrual)	$302		$342		$359		$316		$339
Portfolio loans and leases 90 days past due (accrual)	33		35		36		29		51

30-89 days past due as a % of portfolio loans and leases	0.26	%	0.29	%	0.31	%	0.26	%	0.28	%
90 days past due as a % of portfolio loans and leases	0.03	%	0.03	%	0.03	%	0.02	%	0.04	%

Allowance for loan and lease losses (ALLL), beginning	$2,318		$2,322		$2,340		$2,327		$2,215
Total net losses charged-off	(144)		(110)		(96)		(124)		(90)
Provision for loan and lease losses	114		106		78		137		202
ALLL, ending	$2,288		$2,318		$2,322		$2,340		$2,327

Reserve for unfunded commitments, beginning	$154		$166		$189		$207		$232
Benefit from the reserve for unfunded commitments	(17)		(12)		(23)		(18)		(25)
Reserve for unfunded commitments, ending	$137		$154		$166		$189		$207

Total allowance for credit losses (ACL)	$2,425		$2,472		$2,488		$2,529		$2,534

ACL ratios:
As a % of portfolio loans and leases	2.08	%	2.12	%	2.12	%	2.11	%	2.08	%
As a % of nonperforming portfolio loans and leases	400	%	349	%	383	%	443	%	403	%
As a % of nonperforming portfolio assets	377	%	333	%	362	%	413	%	383	%

ALLL as a % of portfolio loans and leases	1.96	%	1.99	%	1.98	%	1.95	%	1.91	%

Total losses charged-off	$(182)		$(146)		$(133)		$(158)		$(121)
Total recoveries of losses previously charged-off	38		36		37		34		31
Total net losses charged-off	$(144)		$(110)		$(96)		$(124)		$(90)

Net charge-off ratio (NCO ratio)(b)	0.49	%	0.38	%	0.32	%	0.41	%	0.29	%
Commercial NCO ratio	0.45	%	0.19	%	0.13	%	0.34	%	0.16	%
Consumer NCO ratio	0.57	%	0.67	%	0.64	%	0.53	%	0.50	%

Nonperforming portfolio loans and leases were $606 million in the current quarter, with the resulting NPL ratio of 0.52%. Compared to the prior quarter, NPLs decreased $102 million with the NPL ratio decreasing 9 bps. Compared to the year-ago quarter, NPLs decreased $23 million with the NPL ratio remaining flat.

Nonperforming portfolio assets were $643 million in the current quarter, with the resulting NPA ratio of 0.55%. Compared to the prior quarter, NPAs decreased $100 million with the NPA ratio decreasing 9 bps. Compared to the year-ago quarter, NPAs decreased $18 million with the NPA ratio increasing 1 bp.

The provision for credit losses totaled $97 million in the current quarter. The allowance for credit loss ratio represented 2.08% of total portfolio loans and leases at quarter end, compared with 2.12% for the prior quarter end and 2.08% for the

year-ago quarter end. In the current quarter, the allowance for credit losses represented 400% of nonperforming portfolio loans and leases and 377% of nonperforming portfolio assets.

Net charge-offs were $144 million in the current quarter, resulting in an NCO ratio of 0.49%. Compared to the prior quarter, net charge-offs increased $34 million and the NCO ratio increased 11 bps. Commercial net charge-offs were $80 million, resulting in a commercial NCO ratio of 0.45%, which increased 26 bps compared to the prior quarter. Consumer net charge-offs were $64 million, resulting in a consumer NCO ratio of 0.57%, which decreased 10 bps compared to the prior quarter.

Compared to the year-ago quarter, net charge-offs increased $54 million and the NCO ratio increased 20 bps, reflecting an increase from near-historically low net charge-offs in the year-ago quarter. The commercial NCO ratio increased 29 bps compared to the prior year, and the consumer NCO ratio increased 7 bps compared to the prior year.


Capital Position
	As of and For the Three Months Ended
	June		March	December	September	June
	2024		2024	2023	2023	2023
Capital Position
Average total Bancorp shareholders' equity as a % of average assets	8.80%		8.78%	8.04%	8.30%	8.90	%
Tangible equity(a)	8.91%		8.75%	8.65%	8.46%	8.58	%
Tangible common equity (excluding AOCI)(a)	7.92%		7.77%	7.67%	7.49%	7.57	%
Tangible common equity (including AOCI)(a)	5.80%		5.67%	5.73%	4.51%	5.26	%

Regulatory Capital Ratios(d)(e)
CET1 capital	10.60	%	10.47%	10.29%	9.80%	9.49	%
Tier 1 risk-based capital	11.90	%	11.77%	11.59%	11.06%	10.73	%
Total risk-based capital	13.93	%	13.81%	13.72%	13.13%	12.83	%
Leverage	9.07	%	8.94%	8.73%	8.85%	8.81	%

The CET1 capital ratio was 10.60%, the Tangible common equity to tangible assets ratio was 7.92% excluding AOCI, and 5.80% including AOCI. The Tier 1 risk-based capital ratio was 11.90%, the Total risk-based capital ratio was 13.93%, and the Leverage ratio was 9.07%.

During the second quarter of 2024, Fifth Third repurchased $125 million of its outstanding stock, which reduced common shares by approximately 3.5 million at quarter end.

On June 28, 2024, Fifth Third released its preliminary stress capital buffer requirement resulting from the Federal Reserve Board's annual stress test, which will be effective October 1, 2024. Fifth Third's preliminary stress capital buffer requirement of 3.2% is based off of the supervisory severely adverse scenario published in February 2024. Fifth Third's CET1 capital ratio on June 30, 2024 of 10.60% significantly exceeds the regulatory minimum of 4.5% plus the stress capital buffer, reflecting strong capital levels.

Tax Rate

The effective tax rate for the quarter was 21.3% compared with 21.1% in the prior quarter and 22.5% in the year-ago quarter.

Conference Call

Fifth Third will host a conference call to discuss these financial results at 9:00 a.m. (Eastern Time) today. This conference call will be webcast live and may be accessed through the Fifth Third Investor Relations website at www.53.com (click on “About Us” then “Investor Relations”). Those unable to listen to the live webcast may access a webcast replay through the Fifth Third Investor Relations website at the same web address, which will be available for 30 days.

Corporate Profile

Fifth Third is a bank that’s as long on innovation as it is on history. Since 1858, we’ve been helping individuals, families, businesses and communities grow through smart financial services that improve lives. Our list of firsts is extensive, and it’s one that continues to expand as we explore the intersection of tech-driven innovation, dedicated people, and focused community impact. Fifth Third is one of the few U.S.-based banks to have been named among Ethisphere's World’s Most Ethical Companies® for several years. With a commitment to taking care of our customers, employees, communities and shareholders, our goal is not only to be the nation’s highest performing regional bank, but to be the bank people most value and trust.

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

Earnings Release End Notes

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

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 June 30, 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)		June		March		June						June		June
		2024		2024		2023		Seq		Yr/Yr		2024		2023		Yr/Yr
Income Statement Data
Net interest income		$1,387		$1,384		$1,457		—		(5%)		$2,771		$2,974		(7%)
Net interest income (FTE)(a)		1,393		1,390		1,463		—		(5%)		2,783		2,985		(7%)
Noninterest income		695		710		726		(2%)		(4%)		1,406		1,422		(1%)
	Total revenue (FTE)(a)	2,088		2,100		2,189		(1%)		(5%)		4,189		4,407		(5%)
Provision for credit losses		97		94		177		3%		(45%)		191		341		(44%)
Noninterest expense		1,221		1,342		1,231		(9%)		(1%)		2,562		2,562		—
Net income		601		520		601		16%		—		1,122		1,159		(3%)
Net income available to common shareholders		561		480		562		17%		—		1,041		1,097		(5%)

Earnings Per Share Data
Net income allocated to common shareholders		$561		$480		$562		17%		—		$1,041		$1,097		(5%)
Average common shares outstanding (in thousands):
	Basic	686,781		685,750		684,029		—		—		686,265		684,023		—
	Diluted	691,083		690,634		686,386		—		1%		690,858		687,967		—
Earnings per share, basic		$0.82		$0.70		$0.82		17%		—		$1.52		$1.60		(5%)
Earnings per share, diluted		0.81		0.70		0.82		16%		(1%)		1.51		1.59		(5%)

Common Share Data
Cash dividends per common share		$0.35		$0.35		$0.33		—		6%		$0.70		$0.66		6%
Book value per share		25.13		24.72		23.05		2%		9%		25.13		23.05		9%
Market value per share		36.49		37.21		26.21		(2%)		39%		36.49		26.21		39%
Common shares outstanding (in thousands)		680,789		683,812		680,850		—		—		680,789		680,850		—
Market capitalization		$24,842		$25,445		$17,845		(2%)		39%		$24,842		$17,845		39%

Financial Ratios
Return on average assets		1.14	%	0.98	%	1.17	%	16		(3)		1.06	%	1.14	%	(8)
Return on average common equity		13.6	%	11.6	%	13.9	%	198		(28)		12.6	%	13.8	%	(120)
Return on average tangible common equity(a)		19.8	%	17.0	%	20.5	%	280		(73)		18.3	%	20.5	%	(220)
Noninterest income as a percent of total revenue(a)		33	%	34	%	33	%	(100)		—		34	%	32	%	129
Dividend payout		42.7	%	50.0	%	40.2	%	(730)		250		46.1	%	41.3	%	480
Average total Bancorp shareholders’ equity as a percent of average assets		8.80	%	8.78	%	8.90	%	2		(10)		8.79	%	8.83	%	(4)
Tangible common equity(a)		7.92	%	7.77	%	7.57	%	15		35		7.92	%	7.57	%	35
Net interest margin (FTE)(a)		2.88	%	2.86	%	3.10	%	2		(22)		2.87	%	3.20	%	(33)
Efficiency (FTE)(a)		58.5	%	63.9	%	56.2	%	(540)		230		61.2	%	58.1	%	310
Effective tax rate		21.3	%	21.1	%	22.5	%	20		(120)		21.2	%	22.4	%	(120)

Credit Quality
Net losses charged-off		$144		$110		$90		31	%	60	%	$254		$168		51	%
Net losses charged-off as a percent of average portfolio loans and leases (annualized)		0.49	%	0.38	%	0.29	%	11		20		0.44	%	0.27	%	17
ALLL as a percent of portfolio loans and leases		1.96	%	1.99	%	1.91	%	(3)		5		1.96	%	1.91	%	5
ACL as a percent of portfolio loans and leases(g)		2.08	%	2.12	%	2.08	%	(4)		—		2.08	%	2.08	%	—
Nonperforming portfolio assets as a percent of portfolio loans and leases and OREO		0.55	%	0.64	%	0.54	%	(9)		1		0.55	%	0.54	%	1

Average Balances
Loans and leases, including held for sale		$117,283		$117,699		$123,987		—		(5%)		$117,491		$123,802		(5%)
Securities and other short-term investments		77,216		77,650		65,073		(1%)		19%		77,433		64,436		20%
Assets		212,475		213,203		206,079		—		3%		212,839		205,584		4%
Transaction deposits(b)		151,680		152,357		147,723		—		3%		152,018		149,414		2%
Core deposits(c)		162,447		162,601		155,482		—		4%		162,523		155,887		4%
Wholesale funding(d)		24,180		24,771		25,628		(2%)		(6%)		24,476		24,680		(1%)
Bancorp shareholders' equity		18,707		18,727		18,344		—		2%		18,717		18,162		3%

Regulatory Capital Ratios(e)(f)
CET1 capital		10.60	%	10.47	%	9.49	%	13		111		10.60	%	9.49	%	111
Tier 1 risk-based capital		11.90	%	11.77	%	10.73	%	13		117		11.90	%	10.73	%	117
Total risk-based capital		13.93	%	13.81	%	12.83	%	12		110		13.93	%	12.83	%	110
Leverage		9.07	%	8.94	%	8.81	%	13		26		9.07	%	8.81	%	26

Additional Metrics
Banking centers		1,070		1,070		1,072		—		—		1,070		1,072		—
ATMs		2,067		2,082		2,114		(1%)		(2%)		2,067		2,114		(2%)
Full-time equivalent employees		18,607		18,657		19,225		—		(3%)		18,607		19,225		(3%)
Assets under care ($ in billions)(h)		$631		$634		$554		—		14%		$631		$554		14%
Assets under management ($ in billions)(h)		65		62		59		5%		10%		65		59		10%

(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)		June		March		December		September		June
		2024		2024		2023		2023		2023
Income Statement Data
Net interest income		$1,387		$1,384		$1,416		$1,438		$1,457
Net interest income (FTE)(a)		1,393		1,390		1,423		1,445		1,463
Noninterest income		695		710		744		715		726
	Total revenue (FTE)(a)	2,088		2,100		2,167		2,160		2,189
Provision for credit losses		97		94		55		119		177
Noninterest expense		1,221		1,342		1,455		1,188		1,231
Net income		601		520		530		660		601
Net income available to common shareholders		561		480		492		623		562

Earnings Per Share Data
Net income allocated to common shareholders		$561		$480		$492		$623		$562
Average common shares outstanding (in thousands):
	Basic	686,781		685,750		684,413		684,224		684,029
	Diluted	691,083		690,634		687,729		687,059		686,386
Earnings per share, basic		$0.82		$0.70		$0.72		$0.91		$0.82
Earnings per share, diluted		0.81		0.70		0.72		0.91		0.82

Common Share Data
Cash dividends per common share		$0.35		$0.35		$0.35		$0.35		$0.33
Book value per share		25.13		24.72		25.04		21.19		23.05
Market value per share		36.49		37.21		34.49		25.33		26.21
Common shares outstanding (in thousands)		680,789		683,812		681,125		680,990		680,850
Market capitalization		$24,842		$25,445		$23,492		$17,249		$17,845

Financial Ratios
Return on average assets		1.14	%	0.98	%	0.98	%	1.26	%	1.17	%
Return on average common equity		13.6	%	11.6	%	12.9	%	16.3	%	13.9	%
Return on average tangible common equity(a)		19.8	%	17.0	%	19.8	%	24.7	%	20.5	%
Noninterest income as a percent of total revenue(a)		33	%	34	%	34	%	33	%	33	%
Dividend payout		42.7	%	50.0	%	48.6	%	38.5	%	40.2	%
Average total Bancorp shareholders’ equity as a percent of average assets		8.80	%	8.78	%	8.04	%	8.30	%	8.90	%
Tangible common equity(a)		7.92	%	7.77	%	7.67	%	7.49	%	7.57	%
Net interest margin (FTE)(a)		2.88	%	2.86	%	2.85	%	2.98	%	3.10	%
Efficiency (FTE)(a)		58.5	%	63.9	%	67.2	%	55.0	%	56.2	%
Effective tax rate		21.3	%	21.1	%	18.4	%	22.0	%	22.5	%

Credit Quality
Net losses charged-off		$144		$110		$96		$124		$90
Net losses charged-off as a percent of average portfolio loans and leases (annualized)		0.49	%	0.38	%	0.32	%	0.41	%	0.29	%
ALLL as a percent of portfolio loans and leases		1.96	%	1.99	%	1.98	%	1.95	%	1.91	%
ACL as a percent of portfolio loans and leases(g)		2.08	%	2.12	%	2.12	%	2.11	%	2.08	%
Nonperforming portfolio assets as a percent of portfolio loans and leases and OREO		0.55	%	0.64	%	0.59	%	0.51	%	0.54	%

Average Balances
Loans and leases, including held for sale		$117,283		$117,699		$119,309		$122,266		$123,987
Securities and other short-term investments		77,216		77,650		78,857		69,950		65,073
Assets		212,475		213,203		214,057		208,385		206,079
Transaction deposits(b)		151,680		152,357		153,232		150,088		147,723
Core deposits(c)		162,447		162,601		163,788		159,718		155,482
Wholesale funding(d)		24,180		24,771		26,115		24,289		25,628
Bancorp shareholders’ equity		18,707		18,727		17,201		17,305		18,344

Regulatory Capital Ratios(e)(f)
CET1 capital		10.60	%	10.47	%	10.29	%	9.80	%	9.49	%
Tier 1 risk-based capital		11.90	%	11.77	%	11.59	%	11.06	%	10.73	%
Total risk-based capital		13.93	%	13.81	%	13.72	%	13.13	%	12.83	%
Leverage		9.07	%	8.94	%	8.73	%	8.85	%	8.81	%

Additional Metrics
Banking centers		1,070		1,070		1,088		1,073		1,072
ATMs		2,067		2,082		2,104		2,101		2,114
Full-time equivalent employees		18,607		18,657		18,724		18,804		19,225
Assets under care ($ in billions)(h)		$631		$634		$574		$547		$554
Assets under management ($ in billions)(h)		65		62		59		57		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)	June	March	June			June	June
	2024	2024	2023	Seq	Yr/Yr	2024	2023	Yr/Yr
Interest Income
Interest and fees on loans and leases	$1,871	$1,859	$1,831	1%	2%	$3,731	$3,545	5%
Interest on securities	458	455	437	1%	5%	913	876	4%
Interest on other short-term investments	291	294	102	(1%)	185%	584	162	260%
Total interest income	2,620	2,608	2,370	—	11%	5,228	4,583	14%

Interest Expense
Interest on deposits	958	954	655	—	46%	1,912	1,133	69%
Interest on federal funds purchased	3	3	5	—	(40%)	6	10	(40%)
Interest on other short-term borrowings	48	47	90	2%	(47%)	95	147	(35%)
Interest on long-term debt	224	220	163	2%	37%	444	319	39%
Total interest expense	1,233	1,224	913	1%	35%	2,457	1,609	53%

Net Interest Income	1,387	1,384	1,457	—	(5%)	2,771	2,974	(7%)

Provision for credit losses	97	94	177	3%	(45%)	191	341	(44%)
Net Interest Income After Provision for Credit Losses	1,290	1,290	1,280	—	1%	2,580	2,633	(2%)

Noninterest Income
Service charges on deposits	156	151	144	3%	8%	306	281	9%
Commercial banking revenue	144	143	146	1%	(1%)	288	307	(6%)
Mortgage banking net revenue	50	54	59	(7%)	(15%)	104	127	(18%)
Wealth and asset management revenue	159	161	143	(1%)	11%	320	289	11%
Card and processing revenue	108	102	106	6%	2%	210	206	2%
Leasing business revenue	38	39	47	(3%)	(19%)	77	104	(26%)
Other noninterest income	37	50	74	(26%)	(50%)	88	97	(9%)
Securities gains, net	3	10	7	(70%)	(57%)	13	11	18%

Total noninterest income	695	710	726	(2%)	(4%)	1,406	1,422	(1%)

Noninterest Expense
Compensation and benefits	656	753	650	(13%)	1%	1,409	1,407	—
Net occupancy expense	83	87	83	(5%)	—	170	164	4%
Technology and communications	114	117	114	(3%)	—	231	232	—
Equipment expense	38	37	36	3%	6%	76	73	4%
Card and processing expense	21	20	20	5%	5%	41	42	(2%)
Leasing business expense	22	25	31	(12%)	(29%)	48	65	(26%)
Marketing expense	34	32	31	6%	10%	66	60	10%
Other noninterest expense	253	271	266	(7%)	(5%)	521	519	—
Total noninterest expense	1,221	1,342	1,231	(9%)	(1%)	2,562	2,562	—
Income Before Income Taxes	764	658	775	16%	(1%)	1,424	1,493	(5%)
Applicable income tax expense	163	138	174	18%	(6%)	302	334	(10%)
Net Income	601	520	601	16%	—	1,122	1,159	(3%)
Dividends on preferred stock	40	40	39	—	3%	81	62	31%
Net Income Available to Common Shareholders	$561	$480	$562	17%	—	$1,041	$1,097	(5%)


Fifth Third Bancorp and Subsidiaries
Consolidated Statements of Income
$ in millions	For the Three Months Ended
(unaudited)	June	March	December	September	June
	2024	2024	2023	2023	2023
Interest Income
Interest and fees on loans and leases	$1,871	$1,859	$1,889	$1,899	$1,831
Interest on securities	458	455	451	444	437
Interest on other short-term investments	291	294	308	186	102
Total interest income	2,620	2,608	2,648	2,529	2,370

Interest Expense
Interest on deposits	958	954	952	844	655
Interest on federal funds purchased	3	3	3	2	5
Interest on other short-term borrowings	48	47	49	52	90
Interest on long-term debt	224	220	228	193	163
Total interest expense	1,233	1,224	1,232	1,091	913

Net Interest Income	1,387	1,384	1,416	1,438	1,457

Provision for credit losses	97	94	55	119	177
Net Interest Income After Provision for Credit Losses	1,290	1,290	1,361	1,319	1,280

Noninterest Income
Service charges on deposits	156	151	146	149	144
Commercial banking revenue	144	143	163	154	146
Mortgage banking net revenue	50	54	66	57	59
Wealth and asset management revenue	159	161	147	145	143
Card and processing revenue	108	102	106	104	106
Leasing business revenue	38	39	46	58	47
Other noninterest income	37	50	54	55	74
Securities gains (losses), net	3	10	15	(7)	7
Securities gains, net - non-qualifying hedges on mortgage servicing rights	—	—	1	—	—
Total noninterest income	695	710	744	715	726

Noninterest Expense
Compensation and benefits	656	753	659	629	650
Net occupancy expense	83	87	83	84	83
Technology and communications	114	117	117	115	114
Equipment expense	38	37	37	37	36
Card and processing expense	21	20	21	21	20
Leasing business expense	22	25	27	29	31
Marketing expense	34	32	30	35	31
Other noninterest expense	253	271	481	238	266
Total noninterest expense	1,221	1,342	1,455	1,188	1,231
Income Before Income Taxes	764	658	650	846	775
Applicable income tax expense	163	138	120	186	174
Net Income	601	520	530	660	601
Dividends on preferred stock	40	40	38	37	39
Net Income Available to Common Shareholders	$561	$480	$492	$623	$562


Fifth Third Bancorp and Subsidiaries
Consolidated Balance Sheets
$ in millions, except per share data	As of			% Change
(unaudited)	June	March	June
	2024	2024	2023	Seq		Yr/Yr
Assets
Cash and due from banks	$2,837	$2,796	$2,594	1%		9%
Other short-term investments	21,085	22,840	10,943	(8%)		93%
Available-for-sale debt and other securities(a)	38,986	38,791	49,329	1%		(21%)
Held-to-maturity securities(b)	11,443	11,520	2	(1%)		NM
Trading debt securities	1,132	1,151	1,139	(2%)		(1%)
Equity securities	476	380	331	25%		44%
Loans and leases held for sale	537	339	760	58%		(29%)
Portfolio loans and leases:
Commercial and industrial loans	51,840	52,209	56,897	(1%)		(9%)
Commercial mortgage loans	11,429	11,346	11,310	1%		1%
Commercial construction loans	5,806	5,789	5,475	—		6%
Commercial leases	2,708	2,572	2,670	5%		1%
Total commercial loans and leases	71,783	71,916	76,352	—		(6%)
Residential mortgage loans	17,040	16,995	17,503	—		(3%)
Home equity	3,969	3,883	3,911	2%		1%
Indirect secured consumer loans	15,442	15,306	16,097	1%		(4%)
Credit card	1,733	1,737	1,818	—		(5%)
Solar energy installation loans	3,951	3,871	2,961	2%		33%
Other consumer loans	2,661	2,777	3,249	(4%)		(18%)
Total consumer loans	44,796	44,569	45,539	1%		(2%)
Portfolio loans and leases	116,579	116,485	121,891	—		(4%)
Allowance for loan and lease losses	(2,288)	(2,318)	(2,327)	(1%)		(2%)
Portfolio loans and leases, net	114,291	114,167	119,564	—		(4%)
Bank premises and equipment	2,389	2,376	2,275	1%		5%
Operating lease equipment	392	427	537	(8%)		(27%)
Goodwill	4,918	4,918	4,919	—		—
Intangible assets	107	115	146	(7%)		(27%)
Servicing rights	1,731	1,756	1,764	(1%)		(2%)
Other assets	12,938	12,930	12,973	—		—
Total Assets	$213,262	$214,506	$207,276	(1%)		3%

Liabilities
Deposits:
Demand	$40,617	$41,849	$45,264	(3%)		(10%)
Interest checking	57,390	58,809	52,743	(2%)		9%
Savings	17,419	18,229	21,342	(4%)		(18%)
Money market	36,259	35,025	30,012	4%		21%
Foreign office	119	129	182	(8%)		(35%)
CDs $250,000 or less	10,882	10,337	8,833	5%		23%
CDs over $250,000	4,082	5,209	5,752	(22%)		(29%)
Total deposits	166,768	169,587	164,128	(2%)		2%
Federal funds purchased	194	247	163	(21%)		19%
Other short-term borrowings	3,370	2,866	5,817	18%		(42%)
Accrued taxes, interest and expenses	2,040	1,965	1,765	4%		16%
Other liabilities	5,371	5,379	5,316	—		1%
Long-term debt	16,293	15,444	12,278	5%		33%
Total Liabilities	194,036	195,488	189,467	(1%)		2%
Equity
Common stock(c)	2,051	2,051	2,051	—		—
Preferred stock	2,116	2,116	2,116	—		—
Capital surplus	3,764	3,742	3,708	1%		2%
Retained earnings	23,542	23,224	22,366	1%		5%
Accumulated other comprehensive loss	(4,901)	(4,888)	(5,166)	—		(5%)
Treasury stock	(7,346)	(7,227)	(7,266)	2%		1%
Total Equity	19,226	19,018	17,809	1%		8%
Total Liabilities and Equity	$213,262	$214,506	$207,276	(1%)		3%
(a) Amortized cost	$43,596	$43,400	$55,399	—		(21%)
(b) Market values	11,187	11,341	2	(1	%)	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	680,789	683,812	680,850	—		—
Treasury	243,103	240,080	243,042	1	%	—


Fifth Third Bancorp and Subsidiaries
Consolidated Balance Sheets
$ in millions, except per share data	As of
(unaudited)	June	March	December	September	June
	2024	2024	2023	2023	2023
Assets
Cash and due from banks	$2,837	$2,796	$3,142	$2,837	$2,594
Other short-term investments	21,085	22,840	22,082	18,923	10,943
Available-for-sale debt and other securities(a)	38,986	38,791	50,419	47,893	49,329
Held-to-maturity securities(b)	11,443	11,520	2	2	2
Trading debt securities	1,132	1,151	899	1,222	1,139
Equity securities	476	380	613	250	331
Loans and leases held for sale	537	339	378	614	760
Portfolio loans and leases:
Commercial and industrial loans	51,840	52,209	53,270	55,790	56,897
Commercial mortgage loans	11,429	11,346	11,276	11,122	11,310
Commercial construction loans	5,806	5,789	5,621	5,582	5,475
Commercial leases	2,708	2,572	2,579	2,624	2,670
Total commercial loans and leases	71,783	71,916	72,746	75,118	76,352
Residential mortgage loans	17,040	16,995	17,026	17,293	17,503
Home equity	3,969	3,883	3,916	3,898	3,911
Indirect secured consumer loans	15,442	15,306	14,965	15,434	16,097
Credit card	1,733	1,737	1,865	1,817	1,818
Solar energy installation loans	3,951	3,871	3,728	3,383	2,961
Other consumer loans	2,661	2,777	2,988	3,145	3,249
Total consumer loans	44,796	44,569	44,488	44,970	45,539
Portfolio loans and leases	116,579	116,485	117,234	120,088	121,891
Allowance for loan and lease losses	(2,288)	(2,318)	(2,322)	(2,340)	(2,327)
Portfolio loans and leases, net	114,291	114,167	114,912	117,748	119,564
Bank premises and equipment	2,389	2,376	2,349	2,303	2,275
Operating lease equipment	392	427	459	480	537
Goodwill	4,918	4,918	4,919	4,919	4,919
Intangible assets	107	115	125	136	146
Servicing rights	1,731	1,756	1,737	1,822	1,764
Other assets	12,938	12,930	12,538	13,818	12,973
Total Assets	$213,262	$214,506	$214,574	$212,967	$207,276

Liabilities
Deposits:
Demand	$40,617	$41,849	$43,146	$43,844	$45,264
Interest checking	57,390	58,809	57,257	53,421	52,743
Savings	17,419	18,229	18,215	20,195	21,342
Money market	36,259	35,025	34,374	33,492	30,012
Foreign office	119	129	162	168	182
CDs $250,000 or less	10,882	10,337	10,552	10,306	8,833
CDs over $250,000	4,082	5,209	5,206	6,246	5,752
Total deposits	166,768	169,587	168,912	167,672	164,128
Federal funds purchased	194	247	193	205	163
Other short-term borrowings	3,370	2,866	2,861	4,594	5,817
Accrued taxes, interest and expenses	2,040	1,965	2,195	1,834	1,765
Other liabilities	5,371	5,379	4,861	5,808	5,316
Long-term debt	16,293	15,444	16,380	16,310	12,278
Total Liabilities	194,036	195,488	195,402	196,423	189,467
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	3,764	3,742	3,757	3,733	3,708
Retained earnings	23,542	23,224	22,997	22,747	22,366
Accumulated other comprehensive loss	(4,901)	(4,888)	(4,487)	(6,839)	(5,166)
Treasury stock	(7,346)	(7,227)	(7,262)	(7,264)	(7,266)
Total Equity	19,226	19,018	19,172	16,544	17,809
Total Liabilities and Equity	$213,262	$214,506	$214,574	$212,967	$207,276
(a) Amortized cost	$43,596	$43,400	$55,789	$55,557	$55,399
(b) Market values	11,187	11,341	2	2	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	680,789	683,812	681,125	680,990	680,850
Treasury	243,103	240,080	242,768	242,903	243,042


Fifth Third Bancorp and Subsidiaries
Consolidated Statements of Changes in Equity
$ in millions
(unaudited)
			For the Three Months Ended		Year to Date
			June	June	June	June
			2024	2023	2024	2023
Total Equity, Beginning			$19,018	$18,364	$19,172	$17,327
Impact of cumulative effect of change in accounting principle			—	—	(10)	37
Net income			601	601	1,122	1,159
Other comprehensive (loss) income, net of tax:
Change in unrealized losses:
		Available-for-sale debt securities	2	(633)	(177)	(33)
		Qualifying cash flow hedges	(40)	(289)	(287)	(24)
Amortization of unrealized losses on securities transferred to held-to-maturity			25	—	50	—
Change in accumulated other comprehensive income related to employee benefit plans			—	1	—	1

Comprehensive income (loss)			588	(320)	708	1,103
Cash dividends declared:
	Common stock		(243)	(228)	(486)	(457)
	Preferred stock		(40)	(39)	(81)	(62)
Impact of stock transactions under stock compensation plans, net			28	32	48	62
Shares acquired for treasury			(125)	—	(125)	(201)

Total Equity, Ending			$19,226	$17,809	$19,226	$17,809


Fifth Third Bancorp and Subsidiaries
Average Balance Sheets and Yield/Rate Analysis	For the Three Months Ended
$ in millions	June			March			June
(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)	$52,389	7.13	%	$53,256	7.08	%	$58,152	6.78	%
Commercial mortgage loans(a)	11,353	6.26	%	11,339	6.28	%	11,374	5.92	%
Commercial construction loans(a)	5,917	7.14	%	5,732	7.20	%	5,535	6.80	%
Commercial leases(a)	2,576	4.33	%	2,543	4.24	%	2,703	3.54	%
Total commercial loans and leases	72,235	6.90	%	72,870	6.87	%	77,764	6.54	%
Residential mortgage loans	17,363	3.66	%	17,268	3.55	%	18,158	3.39	%
Home equity	3,929	8.37	%	3,933	8.29	%	3,937	7.39	%
Indirect secured consumer loans	15,373	5.18	%	15,172	4.93	%	16,281	4.19	%
Credit card	1,728	12.86	%	1,773	13.73	%	1,783	13.93	%
Solar energy installation loans	3,916	8.35	%	3,794	7.77	%	2,787	5.59	%
Other consumer loans	2,739	9.17	%	2,889	8.96	%	3,277	8.60	%
Total consumer loans	45,048	5.69	%	44,829	5.54	%	46,223	4.92	%
Total loans and leases	117,283	6.43	%	117,699	6.36	%	123,987	5.94	%
Securities:
Taxable securities	55,241	3.27	%	55,016	3.26	%	55,771	3.07	%
Tax exempt securities(a)	1,366	3.27	%	1,440	3.27	%	1,496	3.19	%
Other short-term investments	20,609	5.67	%	21,194	5.58	%	7,806	5.24	%
Total interest-earning assets	194,499	5.43	%	195,349	5.38	%	189,060	5.04	%
Cash and due from banks	2,637			2,743			2,622
Other assets	17,656			17,432			16,613
Allowance for loan and lease losses	(2,317)			(2,321)			(2,216)
Total Assets	$212,475			$213,203			$206,079

Liabilities
Interest-bearing liabilities:
Interest checking deposits	$57,999	3.39	%	$58,677	3.38	%	$50,472	2.81	%
Savings deposits	17,747	0.67	%	18,107	0.69	%	21,675	0.72	%
Money market deposits	35,511	3.00	%	34,589	2.91	%	28,913	1.86	%
Foreign office deposits	157	2.11	%	145	2.43	%	143	1.25	%
CDs $250,000 or less	10,767	4.22	%	10,244	4.15	%	7,759	3.48	%
Total interest-bearing core deposits	122,181	2.95	%	121,762	2.91	%	108,962	2.19	%
CDs over $250,000	4,747	5.16	%	5,521	5.22	%	5,375	4.53	%

Total interest-bearing deposits	126,928	3.04	%	127,283	3.01	%	114,337	2.30	%
Federal funds purchased	230	5.41	%	201	5.41	%	376	5.11	%
Securities sold under repurchase agreements	373	1.97	%	366	1.82	%	361	1.17	%
FHLB advances	3,165	5.71	%	3,111	5.72	%	6,589	5.23	%
Derivative collateral and other secured borrowings	54	6.87	%	57	7.21	%	79	15.07	%
Long-term debt	15,611	5.78	%	15,515	5.71	%	12,848	5.12	%
Total interest-bearing liabilities	146,361	3.39	%	146,533	3.36	%	134,590	2.72	%
Demand deposits	40,266			40,839			46,520
Other liabilities	7,141			7,104			6,625
Total Liabilities	193,768			194,476			187,735
Total Equity	18,707			18,727			18,344
Total Liabilities and Equity	$212,475			$213,203			$206,079
Ratios:
Net interest margin (FTE)(b)		2.88	%		2.86	%		3.10	%
Net interest rate spread (FTE)(b)		2.04	%		2.02	%		2.32	%
Interest-bearing liabilities to interest-earning assets		75.25	%		75.01	%		71.19	%
(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	June			June
(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)	$52,820	7.11	%	$58,178	6.59	%
Commercial mortgage loans(a)	11,346	6.27	%	11,248	5.74	%
Commercial construction loans(a)	5,825	7.17	%	5,521	6.65	%
Commercial leases(a)	2,560	4.28	%	2,683	3.51	%
Total commercial loans and leases	72,551	6.88	%	77,630	6.37	%
Residential mortgage loans	17,316	3.60	%	18,243	3.39	%
Home equity	3,931	8.33	%	3,971	6.93	%
Indirect secured consumer loans	15,273	5.06	%	16,439	4.07	%
Credit card	1,751	13.30	%	1,781	14.04	%
Solar energy installation loans	3,855	8.07	%	2,478	5.17	%
Other consumer loans	2,814	9.06	%	3,260	8.55	%
Total consumer loans	44,940	5.61	%	46,172	4.81	%
Total loans and leases	117,491	6.40	%	123,802	5.78	%
Securities:
Taxable securities	55,128	3.27	%	56,437	3.07	%
Tax exempt securities(a)	1,403	3.27	%	1,450	3.15	%
Other short-term investments	20,902	5.62	%	6,549	5.00	%
Total interest-earning assets	194,924	5.41	%	188,238	4.92	%
Cash and due from banks	2,690			2,878
Other assets	17,544			16,649
Allowance for loan and lease losses	(2,319)			(2,181)
Total Assets	$212,839			$205,584

Liabilities
Interest-bearing liabilities:
Interest checking deposits	$58,338	3.39	%	$49,599	2.58	%
Savings deposits	17,927	0.68	%	22,387	0.65	%
Money market deposits	35,050	2.96	%	28,668	1.53	%
Foreign office deposits	151	2.26	%	143	1.57	%
CDs $250,000 or less	10,505	4.18	%	6,473	3.15	%
Total interest-bearing core deposits	121,971	2.93	%	107,270	1.93	%
CDs over $250,000	5,134	5.19	%	4,865	4.36	%
Total interest-bearing deposits	127,105	3.02	%	112,135	2.00	%
Federal funds purchased	216	5.41	%	431	4.79	%
Securities sold under repurchase agreements	369	1.90	%	344	0.96	%
FHLB advances	3,138	5.71	%	5,701	4.90	%
Derivative collateral and other secured borrowings	56	7.05	%	161	8.14	%
Long-term debt	15,563	5.74	%	13,178	4.90	%
Total interest-bearing liabilities	146,447	3.37	%	131,950	2.46	%
Demand deposits	40,552			48,617
Other liabilities	7,123			6,855
Total Liabilities	194,122			187,422
Total Equity	18,717			18,162
Total Liabilities and Equity	$212,839			$205,584
Ratios:
Net interest margin (FTE)(b)		2.87	%		3.20	%
Net interest rate spread (FTE)(b)		2.04	%		2.46	%
Interest-bearing liabilities to interest-earning assets		75.13	%		70.10	%
(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)	June	March	December	September	June
	2024	2024	2023	2023	2023
Average Portfolio Loans and Leases
Commercial loans and leases:
Commercial and industrial loans	$52,357	$53,183	$54,633	$57,001	$58,137
Commercial mortgage loans	11,352	11,339	11,338	11,216	11,373
Commercial construction loans	5,917	5,732	5,727	5,539	5,535
Commercial leases	2,575	2,542	2,535	2,616	2,700
Total commercial loans and leases	72,201	72,796	74,233	76,372	77,745
Consumer loans:
Residential mortgage loans	17,004	16,977	17,129	17,400	17,517
Home equity	3,929	3,933	3,905	3,897	3,937
Indirect secured consumer loans	15,373	15,172	15,129	15,787	16,281
Credit card	1,728	1,773	1,829	1,808	1,783
Solar energy installation loans	3,916	3,794	3,630	3,245	2,787
Other consumer loans	2,740	2,889	3,003	3,121	3,277
Total consumer loans	44,690	44,538	44,625	45,258	45,582
Total average portfolio loans and leases	$116,891	$117,334	$118,858	$121,630	$123,327

Average Loans and Leases Held for Sale
Commercial loans and leases held for sale	$33	$74	$72	$17	$19
Consumer loans held for sale	359	291	379	619	641
Average loans and leases held for sale	$392	$365	$451	$636	$660

End of Period Portfolio Loans and Leases
Commercial loans and leases:
Commercial and industrial loans	$51,840	$52,209	$53,270	$55,790	$56,897
Commercial mortgage loans	11,429	11,346	11,276	11,122	11,310
Commercial construction loans	5,806	5,789	5,621	5,582	5,475
Commercial leases	2,708	2,572	2,579	2,624	2,670
Total commercial loans and leases	71,783	71,916	72,746	75,118	76,352
Consumer loans:
Residential mortgage loans	17,040	16,995	17,026	17,293	17,503
Home equity	3,969	3,883	3,916	3,898	3,911
Indirect secured consumer loans	15,442	15,306	14,965	15,434	16,097
Credit card	1,733	1,737	1,865	1,817	1,818
Solar energy installation loans	3,951	3,871	3,728	3,383	2,961
Other consumer loans	2,661	2,777	2,988	3,145	3,249
Total consumer loans	44,796	44,569	44,488	44,970	45,539
Total portfolio loans and leases	$116,579	$116,485	$117,234	$120,088	$121,891

End of Period Loans and Leases Held for Sale
Commercial loans and leases held for sale	$25	$32	$44	$81	$32
Consumer loans held for sale	512	307	334	533	728
Loans and leases held for sale	$537	$339	$378	$614	$760

Operating lease equipment	$392	$427	$459	$480	$537

Loans and Leases Serviced for Others(a)
Commercial and industrial loans	$1,201	$1,197	$1,231	$1,217	$1,122
Commercial mortgage loans	616	632	655	711	748
Commercial construction loans	309	293	283	288	260
Commercial leases	730	703	703	721	642
Residential mortgage loans	97,280	99,596	100,842	101,889	102,817
Solar energy installation loans	625	641	658	673	691
Other consumer loans	133	139	146	154	162
Total loans and leases serviced for others	100,894	103,201	104,518	105,653	106,442
Total loans and leases owned or serviced	$218,402	$220,452	$222,589	$226,835	$229,630

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


Fifth Third Bancorp and Subsidiaries
Regulatory Capital
$ in millions		As of
(unaudited)		June		March		December		September		June
		2024(a)		2024		2023		2023		2023
Regulatory Capital(b)
CET1 capital		$17,161		$16,931		$16,800		$16,510		$16,100
Additional tier 1 capital		2,116		2,116		2,116		2,116		2,116
Tier 1 capital		19,277		19,047		18,916		18,626		18,216
Tier 2 capital		3,277		3,288		3,484		3,485		3,565
Total regulatory capital		$22,554		$22,335		$22,400		$22,111		$21,781
Risk-weighted assets		$161,967		$161,769		$163,223		$168,433		$169,720

Ratios
Average total Bancorp shareholders' equity as a percent of average assets		8.80	%	8.78	%	8.04	%	8.30	%	8.90	%

Regulatory Capital Ratios(b)
Fifth Third Bancorp
	CET1 capital	10.60	%	10.47	%	10.29	%	9.80	%	9.49	%
	Tier 1 risk-based capital	11.90	%	11.77	%	11.59	%	11.06	%	10.73	%
	Total risk-based capital	13.93	%	13.81	%	13.72	%	13.13	%	12.83	%
	Leverage	9.07	%	8.94	%	8.73	%	8.85	%	8.81	%

Fifth Third Bank, National Association
	Tier 1 risk-based capital	12.78	%	12.65	%	12.42	%	11.96	%	11.25	%
	Total risk-based capital	14.11	%	13.99	%	13.85	%	13.38	%	12.67	%
	Leverage	9.76	%	9.61	%	9.38	%	9.59	%	9.26	%

(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)	June		March		December		September		June
	2024		2024		2023		2023		2023
Average portfolio loans and leases:
Commercial and industrial loans	$52,357		$53,183		$54,633		$57,001		$58,137
Commercial mortgage loans	11,352		11,339		11,338		11,216		11,373
Commercial construction loans	5,917		5,732		5,727		5,539		5,535
Commercial leases	2,575		2,542		2,535		2,616		2,700
Total commercial loans and leases	72,201		72,796		74,233		76,372		77,745
Residential mortgage loans	17,004		16,977		17,129		17,400		17,517
Home equity	3,929		3,933		3,905		3,897		3,937
Indirect secured consumer loans	15,373		15,172		15,129		15,787		16,281
Credit card	1,728		1,773		1,829		1,808		1,783
Solar energy installation loans	3,916		3,794		3,630		3,245		2,787
Other consumer loans	2,740		2,889		3,003		3,121		3,277
Total consumer loans	44,690		44,538		44,625		45,258		45,582
Total average portfolio loans and leases	$116,891		$117,334		$118,858		$121,630		$123,327

Losses charged-off:
Commercial and industrial loans	($83)		($40)		($30)		($70)		($35)
Commercial mortgage loans	—		—		—		—		—
Commercial construction loans	—		—		—		—		—
Commercial leases	—		—		—		—		—
Total commercial loans and leases	(83)		(40)		(30)		(70)		(35)
Residential mortgage loans	(1)		—		(1)		(1)		(1)
Home equity	(1)		(2)		(2)		(2)		(2)
Indirect secured consumer loans	(31)		(35)		(35)		(27)		(25)
Credit card	(22)		(23)		(22)		(19)		(21)
Solar energy installation loans	(14)		(14)		(11)		(8)		(7)
Other consumer loans	(30)		(32)		(32)		(31)		(30)
Total consumer loans	(99)		(106)		(103)		(88)		(86)
Total losses charged-off	($182)		($146)		($133)		($158)		($121)

Recoveries of losses previously charged-off:
Commercial and industrial loans	$3		$5		$2		$5		$3
Commercial mortgage loans	—		—		3		—		—
Commercial construction loans	—		—		—		—		—
Commercial leases	—		—		—		1		—
Total commercial loans and leases	3		5		5		6		3
Residential mortgage loans	1		—		1		1		1
Home equity	2		2		2		2		1
Indirect secured consumer loans	14		11		10		8		9
Credit card	5		5		4		4		5
Solar energy installation loans	2		2		1		—		—
Other consumer loans	11		11		14		13		12
Total consumer loans	35		31		32		28		28
Total recoveries of losses previously charged-off	$38		$36		$37		$34		$31

Net losses charged-off:
Commercial and industrial loans	($80)		($35)		($28)		($65)		($32)
Commercial mortgage loans	—		—		3		—		—
Commercial construction loans	—		—		—		—		—
Commercial leases	—		—		—		1		—
Total commercial loans and leases	(80)		(35)		(25)		(64)		(32)
Residential mortgage loans	—		—		—		—		—
Home equity	1		—		—		—		(1)
Indirect secured consumer loans	(17)		(24)		(25)		(19)		(16)
Credit card	(17)		(18)		(18)		(15)		(16)
Solar energy installation loans	(12)		(12)		(10)		(8)		(7)
Other consumer loans	(19)		(21)		(18)		(18)		(18)
Total consumer loans	(64)		(75)		(71)		(60)		(58)
Total net losses charged-off	($144)		($110)		($96)		($124)		($90)

Net losses charged-off as a percent of average portfolio loans and leases (annualized):
Commercial and industrial loans	0.61	%	0.27	%	0.20	%	0.45	%	0.22	%
Commercial mortgage loans	0.01	%	—		(0.10	%)	—		0.01	%
Commercial construction loans	—		—		—		—		(0.01	%)
Commercial leases	(0.01	%)	(0.04	%)	0.01	%	(0.08	%)	(0.03	%)
Total commercial loans and leases	0.45	%	0.19	%	0.13	%	0.34	%	0.16	%
Residential mortgage loans	(0.01	%)	(0.01	%)	(0.01	%)	—		—
Home equity	(0.05	%)	0.03	%	0.05	%	0.03	%	0.06	%
Indirect secured consumer loans	0.46	%	0.64	%	0.64	%	0.47	%	0.38	%
Credit card	3.98	%	4.19	%	3.90	%	3.25	%	3.61	%
Solar energy installation loans	1.25	%	1.31	%	1.09	%	0.91	%	0.95	%
Other consumer loans	2.61	%	2.71	%	2.60	%	2.46	%	2.20	%
Total consumer loans	0.57	%	0.67	%	0.64	%	0.53	%	0.50	%
Total net losses charged-off as a percent of average portfolio loans and leases (annualized)	0.49	%	0.38	%	0.32	%	0.41	%	0.29	%


Fifth Third Bancorp and Subsidiaries
Asset Quality
$ in millions	For the Three Months Ended
(unaudited)	June		March		December		September		June
	2024		2024		2023		2023		2023
Allowance for Credit Losses
Allowance for loan and lease losses, beginning	$2,318		$2,322		$2,340		$2,327		$2,215
Total net losses charged-off	(144)		(110)		(96)		(124)		(90)
Provision for loan and lease losses	114		106		78		137		202
Allowance for loan and lease losses, ending	$2,288		$2,318		$2,322		$2,340		$2,327

Reserve for unfunded commitments, beginning	$154		$166		$189		$207		$232
Benefit from the reserve for unfunded commitments	(17)		(12)		(23)		(18)		(25)
Reserve for unfunded commitments, ending	$137		$154		$166		$189		$207

Components of allowance for credit losses:
Allowance for loan and lease losses	$2,288		$2,318		$2,322		$2,340		$2,327
Reserve for unfunded commitments	137		154		166		189		207
Total allowance for credit losses	$2,425		$2,472		$2,488		$2,529		$2,534

	As of
	June		March		December		September		June
	2024		2024		2023		2023		2023
Nonperforming Assets and Delinquent Loans
Nonaccrual portfolio loans and leases:
Commercial and industrial loans	$234		$332		$304		$262		$322
Commercial mortgage loans	38		39		20		18		22
Commercial construction loans	1		1		1		—		—
Commercial leases	1		—		1		1		1
Residential mortgage loans	129		137		124		127		137
Home equity	61		60		57		58		61
Indirect secured consumer loans	36		32		36		31		23
Credit card	31		32		34		32		30
Solar energy installation loans	66		65		60		28		25
Other consumer loans	9		10		12		13		8
Total nonaccrual portfolio loans and leases	606		708		649		570		629
Repossessed property	9		8		10		11		8
OREO	28		27		29		31		24
Total nonperforming portfolio loans and leases and OREO	643		743		688		612		661
Nonaccrual loans held for sale	4		5		1		6		2
Total nonperforming assets	$647		$748		$689		$618		$663

Loans and leases 90 days past due (accrual):
Commercial and industrial loans	$3		$9		$8		$3		$6
Commercial mortgage loans	1		—		—		—		20

Commercial leases	4		2		—		—		—
Total commercial loans and leases	8		11		8		3		26
Residential mortgage loans(c)	8		5		7		6		7
Home equity	—		—		—		—		1

Credit card	17		19		21		20		17

Other consumer loans	—		—		—		—		—
Total consumer loans	25		24		28		26		25
Total loans and leases 90 days past due (accrual)(b)	$33		$35		$36		$29		$51
Ratios
Net losses charged-off as a percent of average portfolio loans and leases (annualized)	0.49	%	0.38	%	0.32	%	0.41	%	0.29	%
Allowance for credit losses:
As a percent of portfolio loans and leases	2.08	%	2.12	%	2.12	%	2.11	%	2.08	%
As a percent of nonperforming portfolio loans and leases(a)	400	%	349	%	383	%	443	%	403	%
As a percent of nonperforming portfolio assets(a)	377	%	333	%	362	%	413	%	383	%
Nonperforming portfolio loans and leases as a percent of portfolio loans and leases(a)	0.52	%	0.61	%	0.55	%	0.47	%	0.52	%
Nonperforming portfolio assets as a percent of portfolio loans and leases and OREO(a)	0.55	%	0.64	%	0.59	%	0.51	%	0.54	%
Nonperforming assets as a percent of total loans and leases, OREO, and repossessed property	0.55	%	0.64	%	0.59	%	0.51	%	0.54	%
(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)		June		March		December		September		June
		2024		2024		2023		2023		2023
Net interest income		$1,387		$1,384		$1,416		$1,438		$1,457
Add: Taxable equivalent adjustment		6		6		7		7		6
Net interest income (FTE) (a)		1,393		1,390		1,423		1,445		1,463

Net interest income (annualized) (b)		5,578		5,566		5,618		5,705		5,844
Net interest income (FTE) (annualized) (c)		5,603		5,591		5,646		5,733		5,868

Interest income		2,620		2,608		2,648		2,529		2,370
Add: Taxable equivalent adjustment		6		6		7		7		6
Interest income (FTE)		2,626		2,614		2,655		2,536		2,376
Interest income (FTE) (annualized) (d)		10,562		10,513		10,533		10,061		9,530

Interest expense (annualized) (e)		4,959		4,923		4,888		4,328		3,662
Average interest-earning assets (f)		194,499		195,349		198,166		192,216		189,060
Average interest-bearing liabilities (g)		146,361		146,533		146,507		139,779		134,590

Net interest margin (b) / (f)		2.87	%	2.85	%	2.83	%	2.97	%	3.09	%
Net interest margin (FTE) (c) / (f)		2.88	%	2.86	%	2.85	%	2.98	%	3.10	%
Net interest rate spread (FTE) (d) / (f) - (e) / (g)		2.04	%	2.02	%	1.97	%	2.13	%	2.32	%

Income before income taxes		$764		$658		$650		$846		$775
Add: Taxable equivalent adjustment		6		6		7		7		6
Income before income taxes (FTE)		770		664		657		853		781

Net income available to common shareholders		561		480		492		623		562
Add: Intangible amortization, net of tax		7		8		8		8		8
Tangible net income available to common shareholders (h)		568		488		500		631		570
Tangible net income available to common shareholders (annualized) (i)		2,284		1,963		1,984		2,503		2,286

Average Bancorp shareholders’ equity		18,707		18,727		17,201		17,305		18,344
Less:	Average preferred stock	(2,116)		(2,116)		(2,116)		(2,116)		(2,116)
	Average goodwill	(4,918)		(4,918)		(4,919)		(4,919)		(4,919)
	Average intangible assets	(111)		(121)		(130)		(141)		(152)
Average tangible common equity, including AOCI (j)		11,562		11,572		10,036		10,129		11,157
Less:	Average AOCI	5,278		4,938		6,244		5,835		4,480
Average tangible common equity, excluding AOCI (k)		16,840		16,510		16,280		15,964		15,637

Total Bancorp shareholders’ equity		19,226		19,018		19,172		16,544		17,809
Less:	Preferred stock	(2,116)		(2,116)		(2,116)		(2,116)		(2,116)
	Goodwill	(4,918)		(4,918)		(4,919)		(4,919)		(4,919)
	Intangible assets	(107)		(115)		(125)		(136)		(146)
Tangible common equity, including AOCI (l)		12,085		11,869		12,012		9,373		10,628
Less:	AOCI	4,901		4,888		4,487		6,839		5,166
Tangible common equity, excluding AOCI (m)		16,986		16,757		16,499		16,212		15,794
Add:	Preferred stock	2,116		2,116		2,116		2,116		2,116
Tangible equity (n)		19,102		18,873		18,615		18,328		17,910

Total assets		213,262		214,506		214,574		212,967		207,276
Less:	Goodwill	(4,918)		(4,918)		(4,919)		(4,919)		(4,919)
	Intangible assets	(107)		(115)		(125)		(136)		(146)
Tangible assets, including AOCI (o)		208,237		209,473		209,530		207,912		202,211
Less:	AOCI, before tax	6,204		6,187		5,680		8,657		6,539
Tangible assets, excluding AOCI (p)		$214,441		$215,660		$215,210		$216,569		$208,750

Common shares outstanding (q)		681		684		681		681		681

Tangible equity (n) / (p)		8.91	%	8.75	%	8.65	%	8.46	%	8.58	%
Tangible common equity (excluding AOCI) (m) / (p)		7.92	%	7.77	%	7.67	%	7.49	%	7.57	%
Tangible common equity (including AOCI) (l) / (o)		5.80	%	5.67	%	5.73	%	4.51	%	5.26	%
Tangible book value per share (including AOCI) (l) / (q)		$17.75		$17.35		$17.64		$13.76		$15.61
Tangible book value per share (excluding AOCI) (m) / (q)		$24.94		$24.50		$24.23		$23.81		$23.19


Fifth Third Bancorp and Subsidiaries
Non-GAAP Reconciliation
$ in millions		For the Three Months Ended
(unaudited)		June		March		June
		2024		2024		2023
Net income (r)		$601		$520		$601
Net income (annualized) (s)		2,417		2,091		2,411

Adjustments (pre-tax items)
	Valuation of Visa total return swap	23		17		30
	Legal settlements and remediations	18		19		12
	FDIC special assessment	6		33		—
	Restructuring severance expense	—		—		12


Adjustments, after-tax (t)(a) (b)		37		55		43









Net interest income (FTE) (u)		1,393		1,390		1,463
	Legal settlements and remediations	5		—		—
Adjusted net interest income (FTE) (v)		1,398		1,390		1,463

Adjusted net interest income (FTE) (annualized) (w)		5,623		5,591		5,868

Noninterest income (x)		695		710		726
	Valuation of Visa total return swap	23		17		30
	Legal settlements and remediations	2		—		—
Adjusted noninterest income (y)		720		727		756

Noninterest expense (z)		1,221		1,342		1,231
	Legal settlements and remediations	(11)		(19)		(12)
	FDIC special assessment	(6)		(33)		—
	Restructuring severance expense	—		—		(12)
Adjusted noninterest expense (aa)		1,204		1,290		1,207



Adjusted net income (r) + (t)		638		575		644
Adjusted net income (annualized) (ab)		2,566		2,313		2,583

Adjusted tangible net income available to common shareholders (h) + (t)		605		543		613
Adjusted tangible net income available to common shareholders (annualized) (ac)		2,433		2,184		2,459

Average assets (ad)		$212,475		$213,203		$206,079

Return on average tangible common equity (i) / (j)		19.8	%	17.0	%	20.5	%
Return on average tangible common equity excluding AOCI (i) / (k)		13.6	%	11.9	%	14.6	%
Adjusted return on average tangible common equity, including AOCI (ac) / (j)		21.0	%	18.9	%	22.0	%
Adjusted return on average tangible common equity, excluding AOCI (ac) / (k)		14.4	%	13.2	%	15.7	%

Return on average assets (s) / (ad)		1.14	%	0.98	%	1.17	%
Adjusted return on average assets (ab) / (ad)		1.21	%	1.08	%	1.25	%
Efficiency ratio (FTE) (z) / [(u) + (x)]		58.5	%	63.9	%	56.2	%
Adjusted efficiency ratio (aa) / [(v) + (y)]		56.8	%	60.9	%	54.4	%
Net interest margin (FTE) (c) / (f)		2.88	%	2.86	%	3.10	%
Adjusted net interest margin (FTE) (w) / (f)		2.89	%	2.86	%	3.10	%
Total revenue (FTE) (u) + (x)		$2,088		$2,100		$2,189
Adjusted total revenue (FTE) (v) + (y)		$2,118		$2,117		$2,219
Pre-provision net revenue (PPNR) (u) + (x) - (z)		$867		$758		$958
Adjusted pre-provision net revenue (PPNR) (v) + (y) - (aa)		$914		$827		$1,012
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 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

For the three months ended September 30, 2023	Commercial Banking	Consumer and Small Business Banking	Wealth and Asset Management	General Corporate and Other	Total

Net interest income (FTE)(a)	$1,012	$1,390	$98	$(1,055)	$1,445
Provision for credit losses	—	(105)	(1)	(13)	(119)
Net interest income after provision for credit losses	1,012	1,285	97	(1,068)	1,326
Noninterest income	353	274	94	(6)	715
Noninterest expense	(478)	(624)	(90)	4	(1,188)
Income (loss) before income taxes	887	935	101	(1,070)	853
Applicable income tax (expense) benefit(a)	(169)	(196)	(22)	194	(193)
Net income (loss)	$718	$739	$79	$(876)	$660

For the three months ended June 30, 2023	Commercial Banking	Consumer and Small Business Banking	Wealth and Asset Management	General Corporate and Other	Total

Net interest income (FTE)(a)	$1,025	$1,370	$95	$(1,027)	$1,463
(Provision for) benefit from for credit losses	9	(65)	—	(121)	(177)
Net interest income after (provision for) benefit from credit losses	1,034	1,305	95	(1,148)	1,286
Noninterest income	336	271	91	28	726
Noninterest expense	(486)	(632)	(93)	(20)	(1,231)
Income (loss) before income taxes	884	944	93	(1,140)	781
Applicable income tax (expense) benefit(a)	(173)	(198)	(20)	211	(180)
Net income (loss)	$711	$746	$73	$(929)	$601
(a) Includes taxable equivalent adjustments of $6 million for the three months ended June 30, 2024 and March 31, 2024, $7 million for the three months ended December 31, 2023 and September 30, 2023 and $6 million for the three months ended June 30, 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 2Q24 Earnings Presentation July 19, 2024 Refer to earnings release dated July 19, 2024 for further information.

© Fifth Third Bancorp | All Rights Reserved This presentation contains statements that we believe are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Rule 175 promulgated thereunder, and Section 21E of the Securities Exchange Act of 1934, as amended, and Rule 3b-6 promulgated thereunder. All statements other than statements of historical fact are forward-looking statements. These statements relate to our financial condition, results of operations, plans, objectives, future performance, capital actions or business. They usually can be identified by the use of forward-looking language such as “will likely result,” “may,” “are expected to,” “is anticipated,” “potential,” “estimate,” “forecast,” “projected,” “intends to,” or may include other similar words or phrases such as “believes,” “plans,” “trend,” “objective,” “continue,” “remain,” or similar expressions, or future or conditional verbs such as “will,” “would,” “should,” “could,” “might,” “can,” or similar verbs. You should not place undue reliance on these statements, as they are subject to risks and uncertainties, including but not limited to the risk factors set forth in our most recent Annual Report on Form 10-K as updated by our filings with the U.S. Securities and Exchange Commission (“SEC”). There are a number of important factors that could cause future results to differ materially from historical performance and these forward-looking statements. Factors that might cause such a difference include, but are not limited to: (1) deteriorating credit quality; (2) loan concentration by location or industry of borrowers or collateral; (3) problems encountered by other financial institutions; (4) inadequate sources of funding or liquidity; (5) unfavorable actions of rating agencies; (6) inability to maintain or grow deposits; (7) limitations on the ability to receive dividends from subsidiaries; (8) cyber-security risks; (9) Fifth Third’s ability to secure confidential information and deliver products and services through the use of computer systems and telecommunications networks; (10) failures by third-party service providers; (11) inability to manage strategic initiatives and/or organizational changes; (12) inability to implement technology system enhancements; (13) failure of internal controls and other risk management programs; (14) losses related to fraud, theft, misappropriation or violence; (15) inability to attract and retain skilled personnel; (16) adverse impacts of government regulation; (17) governmental or regulatory changes or other actions; (18) failures to meet applicable capital requirements; (19) regulatory objections to Fifth Third’s capital plan; (20) regulation of Fifth Third’s derivatives activities; (21) deposit insurance premiums; (22) assessments for the orderly liquidation fund; (23) weakness in the national or local economies; (24) global political and economic uncertainty or negative actions; (25) changes in interest rates and the effects of inflation; (26) changes and trends in capital markets; (27) fluctuation of Fifth Third’s stock price; (28) volatility in mortgage banking revenue; (29) litigation, investigations, and enforcement proceedings by governmental authorities; (30) breaches of contractual covenants, representations and warranties; (31) competition and changes in the financial services industry; (32) potential impacts of the adoption of real-time payment networks; (33) changing retail distribution strategies, customer preferences and behavior; (34) difficulties in identifying, acquiring or integrating suitable strategic partnerships, investments or acquisitions; (35) potential dilution from future acquisitions; (36) loss of income and/or difficulties encountered in the sale and separation of businesses, investments or other assets; (37) results of investments or acquired entities; (38) changes in accounting standards or interpretation or declines in the value of Fifth Third’s goodwill or other intangible assets; (39) inaccuracies or other failures from the use of models; (40) effects of critical accounting policies and judgments or the use of inaccurate estimates; (41) weather-related events, other natural disasters, or health emergencies (including pandemics); (42) the impact of reputational risk created by these or other developments on such matters as business generation and retention, funding and liquidity; (43) changes in law or requirements imposed by Fifth Third’s regulators impacting our capital actions, including dividend payments and stock repurchases; and (44) Fifth Third's ability to meet its environmental and/or social targets, goals and commitments. You should refer to our periodic and current reports filed with the Securities and Exchange Commission, or “SEC,” for further information on other factors, which could cause actual results to be significantly different from those expressed or implied by these forward-looking statements. Moreover, you should treat these statements as speaking only as of the date they are made and based only on information then actually known to us. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any changes in events, conditions or circumstances on which any such statement is based, except as may be required by law, and we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. The information contained herein is intended to be reviewed in its totality, and any stipulations, conditions or provisos that apply to a given piece of information in one part of this press release should be read as applying mutatis mutandis to every other instance of such information appearing herein. Copies of those filings are available at no cost on the SEC’s website at www.sec.gov or on our website at www.53.com. Annualized, pro forma, projected and estimated numbers are used for illustrative purpose only, are not forecasts and may not reflect actual results. In this presentation, we may sometimes provide non-GAAP financial information. Please note that although non-GAAP financial measures provide useful insight to analysts, investors and regulators, they should not be considered in isolation or relied upon as a substitute for analysis using GAAP measures. We provide a discussion of non-GAAP measures and reconciliations to the most directly comparable GAAP measures in later slides in this presentation, as well as on pages 27 through 29 of our 2Q24 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 • First quarter of sequential NII growth since 2022 • Strong profitability resulted in CET1 increasing 13 bps while also executing $125 million of share repurchases • Average deposits increased 4% compared to 2Q23 • Strong fee performance driven by 11% growth in wealth and asset management revenue and 12% in commercial payments revenue compared to 2Q23 • Interest-bearing deposit costs were well-managed; increased only 4 bps compared to 1Q24 • Disciplined expense management; expenses decreased 1% compared to 2Q23 • Generated consumer household growth of 3% compared to 2Q23 Reported 1 Adjusted 1 EPS $0.81 $0.86 ROA 1.14% 1.21% ROE 13.6% 14.5% ROTCE 19.8% 21.0% NIM 2.88% 2.89% Efficiency ratio 58.5% 56.8% PPNR $867MM $914MM CET1 2 10.60% For end note descriptions, see end note summary starting on page 50 2Q24 highlights 3

© Fifth Third Bancorp | All Rights Reserved 1.23% 1.22% Peer 7 Peer 2 Peer 5 Peer 8 Peer 4 Peer 9 Peer 1 Peer 3 Peer 10 Peer 11 Peer 6 15.4% 15.1% Peer 1 Peer 2 Peer 3 Peer 4 Peer 5 Peer 6 Peer 7 Peer 8 Peer 9 Peer 10 Peer 11 60.5% Peer 9 Peer 6 x Peer 10 Peer 8 Peer 7 Peer 3 Peer 4 Peer 11 Peer 1 Peer 2 Peer 5 14.0% Peer 1 Peer 2 Peer 3 Peer 4 Peer 5 Peer 6 Peer 7 Peer 8 Peer 9 x Peer 10 Peer 11 1.29% Peer 5 Peer 2 Peer 1 Peer 3 Peer 8 Peer 6 Peer 7 Peer 4 Peer 10 x Peer 9 Peer 11 Driving to consistently generate top quartile results 4 Return on tangible common equity 1,2 FY18 LTM FY18 FY18 Return on assets 1 Efficiency ratio 1 LTM 1Q24 unless otherwise noted; Adjusted basis LTM 1Q24 unless otherwise noted; Adjusted basis LTM 1Q24 unless otherwise noted; Adjusted basis Remain focused on long-term horizon Expect to continue generating top-tier financial results 56.3% 56.9% Peer 2 Peer 7 Peer 9 Peer 4 Peer 3 Peer 1 Peer 8 Peer 5 Peer 11 Peer 10 Peer 6 LTM LTM For end note descriptions, see end note summary starting on page 50 FITB 1Q24 FITB 2Q24 FITB 1Q24 FITB 2Q24 FITB 1Q24 FITB 2Q24

© Fifth Third Bancorp | All Rights Reserved NII $ in millions; NIM change in bps 1Q24 to 2Q24 adjusted NII & NIM walk T o t a l n e t in t e r e s t i n c o m e ; $ m il li o n s NII Adjusted NIM For end note descriptions, see end note summary starting on page 50 NII $1,3901Q24 2.86% NIM $1,398 2.89%2Q24 Securities portfolio Loan balances / mix (2) - 8 2 11 2Net market rate impact Deposit/wholesale funding balances / mix (10) (2) Net interest income 1 11 5 Other, net Adjusted NII Adjusted NIM walk 2Q23 1Q24 2Q24 Reported Net Interest Margin 3.10% 2.86% 2.88% Adjustment to Net Interest Margin 0.00 0.00 0.01 Adjusted Net Interest Margin 3.10% 2.86% 2.89%

© Fifth Third Bancorp | All Rights Reserved • Adjusted noninterest income 1 flat compared to the prior quarter • Primary drivers: ‒ Service charges on deposits (up 5%) reflecting an increase in commercial payments revenue ‒ Card and processing revenue (up 6%) reflecting an increase in interchange revenue ‒ Offset by mortgage banking net revenue (down 7%) primarily reflecting an increase in MSR asset decay, partially offset by an increase in origination fees and gains on loan sales • Adjusted noninterest income 1 down $32 million, or 4% • Primary drivers: ‒ Other noninterest income (down 42%) due to a $34 million gain recognized in the year-ago quarter ‒ Mortgage banking net revenue (down 15%) primarily reflecting decreases in origination fees and gains on loan sales and MSR net valuation adjustments ‒ Partially offset by commercial payments (up 12%) and wealth and asset management revenue (up 11%) Noninterest income 2Q24 vs. 2Q23 2Q24 vs. 1Q24 For end note descriptions, see end note summary starting on page 50 T o t a l n o n in t e r e s t i n c o m e ; $ m il li o n s Securities losses/(gains), net ($ in millions) 2Q23 1Q24 2Q24 Net losses/(gains) attributable to non-qualified deferred compensation plans (NQDC), offset in expenses ($8) ($11) ($3) Other losses/(gains), net 1 1 — Securities losses/(gains), net ($7) ($10) ($3) 6

© Fifth Third Bancorp | All Rights Reserved • Adjusted noninterest expense 1 flat compared to the year-ago quarter • Primary drivers: ‒ Leasing business expense (down 29%), consistent with the decline in operating lease revenue ‒ Partially offset by compensation and benefits (up 1%) due to an increase in performance-based compensation T o t a l n o n in t e r e s t e x p e n s e ; $ m il li o n s 2Q24 vs. 2Q23 2Q24 vs. 1Q24 For end note descriptions, see end note summary starting on page 50 Noninterest expense 7 ($ in millions) 2Q23 1Q24 2Q24 Non-qualified deferred compensation expense/(benefit), primarily offset in securities gains/losses $10 $15 $4 • Adjusted noninterest expense 1 down $86 million, or 7% • Primary drivers: ‒ Compensation and benefits (down 13%) due to seasonal compensation awards in the first quarter ‒ Net occupancy expense (down 5%) due to seasonal factors ‒ Partially offset by other noninterest expense (up 8%)

© Fifth Third Bancorp | All Rights Reserved QoQ YoY +67% (30%) (22%) (22%) QoQ YoY +1% (2%) — (6%) Interest earning assets Commercial Average securities 1 and short-term investmentsAverage loan & lease balances $ in billions; loan & lease balances excluding HFS Consumer Period-end loan & lease balances Period-end HFS loan & lease balances Commercial Consumer $ in billions For end note descriptions, see end note summary starting on page 50; totals shown above may not foot due to rounding % change % change % change % change $ in billions; loan & lease balances excluding HFS $ in billions 8 $0.0 $0.0$0.0 QoQ YoY — (2%) (1%) (7%) QoQ YoY (3%) +164% — (1%)

© Fifth Third Bancorp | All Rights Reserved 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 9 Total wholesale funding QoQ YoY (2%) (6%) QoQ YoY +1% — $4.7$5.5$5.4 $4.1 $5.2$5.8 Core depositsCDs > $250K QoQ YoY (22%) (29%) (1%) +3% QoQ YoY (14%) (12%) — +4%

© Fifth Third Bancorp | All Rights Reserved • 86% FDIC insured 1 • Debit transactions up 2% YoY • >80% of balances from clients with 5+ year tenure • Average age of household: ~13 years • 1.4 million Momentum Households (~58% of total) High-quality deposit franchise 4 point outperformance vs. large commercial banks Average total deposits indexed to 100; H8, non-seasonally adjusted total deposits Commercial and consumer deposit franchise highlights Continued investment in the southeast 3 For end note descriptions, see end note summary starting on page 50; totals shown above may not foot due to rounding 10 3Q18 2028E Midwest Southeast Commercial franchiseConsumer franchise Fifth Third continues to outpace the industry in deposit share growth 2 +4% 0% +2% #2 #6 Midwest Southeast unchanged YoY improved 2 spots YoY • Gained or maintained market share rank in all 40 of our largest MSAs • Approaching target locational share in 8 key SE MSAs of focus Significant locational share improvement since 2018 in key SE MSAs Deposit share rankings Naples, FL 2018 2023 Nashville, TN Fort Myers, FL Charlotte, NC Raleigh-Durham, NC #2 #6 #4 #5 #15 #1 #3 #2 #4 #7 2Q24 ~50% ~50% ~20% ~80% Branch network mix 4 • 22% FDIC insured 1 • 94% of balances represented by relationships that utilized Treasury Management services • Balanced-weighted relationship age of ~24 years • Median relationship deposit balance of ~$409K

© Fifth Third Bancorp | All Rights Reserved 30% 32% 35% 36% 36% 41% 43% 46% 46% 57% 57% 63% 75% 26% 34% 21% 43% 14% 3% 23% 22% 23% 6% 30% 14% 14% 35% 13% 30% 20% 12% 23% 20% 29% 18% 17% 11% 18% 8% Peer 12 Peer 11 Peer 10 Peer 9 Peer 8 Peer 7 Peer 6 Peer 5 Peer 4 Peer 3 Peer 2 x Peer 1 MSA Rankings 1-3 MSA Rankings 4-5 MSA Rankings 6-10 MSA Rankings 10+/No MSA Maintaining top quartile deposit density while expanding branch network in the Southeast 11 Deposit density market rank 1 We continue to focus on achieving a top 5 rank in the MSAs we serve Total Top 5 89% 77% 87% 63% 69% 68% 66% 44% 50% 79% 56% 66% 56% For end note descriptions, see end note summary starting on page 50

© Fifth Third Bancorp | All Rights Reserved For end note descriptions, see end note summary starting on page 50 Credit quality overview 12 Key metrics 2Q23 3Q23 4Q23 1Q24 2Q24 NPL ratio 0.52% 0.47% 0.55% 0.61% 0.52% NPA ratio 1 0.54% 0.51% 0.59% 0.64% 0.55% 30-89 days past due as a % of portfolio loans and leases 0.28% 0.26% 0.31% 0.29% 0.26% NCO ratio 0.29% 0.41% 0.32% 0.38% 0.49% ACL ratio as a % of portfolio loans and leases 2.08% 2.11% 2.12% 2.12% 2.08% $ in millions

© Fifth Third Bancorp | All Rights Reserved • Drivers of $47MM 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 commitments 1 Allowance for credit losses Allocation of allowance by product $ in millions 2Q24 Amount % of portfolio loans & leases For end note descriptions, see end note summary starting on page 50; totals shown above may not foot due to rounding Change in rate Compared to: 1Q24 2Q23 Allowance for credit losses 13 2,288 137 $2,425 1.96% 2.08% (0.03%) (0.04%) 0.05% — $721 311 67 14 136 106 134 283 193 1,175 $1,113 1.39% 2.72% 1.15% 0.52% 0.80% 2.67% 5.04% 1.83% 11.14% 2.62% 1.55% (0.05%) 0.02% 0.04% (0.06%) (0.03%) 0.04% — 0.02% (0.81%) (0.03%) (0.04%) (0.09%) 0.27% 0.02% (0.19%) (0.19%) (0.24%) 0.08% 0.31% (1.18%) 0.14% (0.02%) Solar energy installation loans 323 8.18% 0.19% 1.05% • Drivers of $47MM decrease in ACL: • Primarily due to a decrease in specific reserves

© Fifth Third Bancorp | All Rights Reserved 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 ~$21 ~$20 ~$10 ~$57 ~$107 3/31/24 Capital position Common equity tier 1 ratio 1 ~$22 ~$20 ~$11 ~$54 ~$107 Liquidity Sources 6/30/24 For end note descriptions, see end note summary starting on page 50; totals shown above may not foot due to rounding • Maintained full Category 1 LCR compliance during the quarter • Loan-to-core deposit ratio of 72% • 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 down 2 – 4% Noninterest expense 1 stable (FY23 baseline: $4.937 billion) Net charge-off ratio 35 – 45 bps Effective tax rate ~22% For end note descriptions, see end note summary starting on page 50 As of July 19, 2024; please see cautionary statements on page 2 Total revenue 1 down ~2% (FY23 baseline: $8.826 billion; Includes securities g/l) (including HFS) Avg. loans & leases down ~3% Current expectations FY 2024 compared to FY 2023 15 Allowance for credit losses expect $0 - $10MM release due to loan growth/mix and assumes no change to macroeconomic outlook and risk profile as of 2Q24 Net interest income 1 Noninterest income 1 stable to down ~1% (FY23 baseline: $5.852 billion) (FY23 baseline: $2.956 billion)

© Fifth Third Bancorp | All Rights Reserved up ~2% Noninterest expense 1 up ~1% (2Q24 baseline: $1.204 billion) Net charge-off ratio 40 – 45 bps Effective tax rate 22 - 23% For end note descriptions, see end note summary starting on page 50 As of July 19, 2024; please see cautionary statements on page 2 Total revenue 1 up 1 – 2% (2Q24 baseline: $2.118 billion; Includes securities g/l) (including HFS) Avg. loans & leases stable to up ~1% Current expectations 3Q24 compared to 2Q24 16 Allowance for credit losses expect ~$25MM build due to loan growth/mix and assumes no change to macroeconomic outlook and risk profile as of 2Q24 Net interest income 1 Noninterest income 1 up 1 – 2% (2Q24 baseline: $1.398 billion) (2Q24 baseline: $717 million)

© Fifth Third Bancorp | All Rights Reserved Midwest footprint (branch count in white) Major FITB markets 2 with a top 5 deposit share London office Leading position in the markets we compete in 3 Key Southeast MSAs of focus Toronto office Top performing regional bank with local scale and national reach 18 Fifth Third Corporate Headquarters Cincinnati, Ohio 249 161 100 157 66 5 41 77 10 29 175 Assets $213 billion Ranked 11 th in the U.S. 1 Deposits $167 billion Ranked 9 th in the U.S. 1 U.S. branches 1,070 Ranked 8 th in the U.S. 1 Commercial Payments Top 5 market share across several product categories 5 Southeast footprint (branch count in white) #2 #6Midwest Southeast unchanged YoY improved 2 spots YoY Deposit share rankings 4 #3 Fifth Third footprint improved 1 spot YoY Significant locational share in notable MSAs Nashville, TN Charlotte, NC #3 #4 Cincinnati, OH #1 Chicago, IL #3 Top 10 deposit share in ~90% of retail footprint Columbus, OH Indianapolis, IN #3 #3 Tampa, FL #6 Grand Rapids, MI #1 For end note descriptions, see end note summary starting on page 50

© Fifth Third Bancorp | All Rights Reserved 19 Our purpose, vision, and core values support our commitment to generating sustainable value for stakeholders Our Vision Be the One Bank people most value and trust Our Core Values Our Purpose To improve the lives of our customers and the well-being of our communities Work as One Bank Take Accountability Be Respectful Act with Integrity Living our purpose guided by our vision and values

© Fifth Third Bancorp | All Rights Reserved 20 Addressing climate change Promoting inclusion and diversity Demonstrating our commitment to employees Strengthening our communities Keeping the customer at the center >$209MM in lending, investments, and philanthropy towards Empowering Black Futures Neighborhood Investment Program 3,8 >$370MM provided in community development lending and investment >$7.6MM in total charitable giving 9 >41K hours of community service "Outstanding" rating on most recent Community Reinvestment Act performance evaluation from the Office of the Comptroller of Currency 10 Slight decrease in overall turnover from 16.9% in 4Q23 to 16.6% in 2Q24 Enhanced our Employee Stock Purchase Plan (ESPP), allowing eligible employees to buy shares with a 15% Bank match Initiated an Employee Viewpoints Check-in in 2Q24. Fifth Third is committed to monitoring the employee experience, with a focus on career growth and development Enhanced the Development Planning tool within Workday; the first of many to help employees map their career journey >6.7MM customer outreach calls in 1H24, continuing our heightened connection to the customer 3.0% YoY consumer checking household growth Low reliance on consumer fees, with consumers avoiding $31.4MM in overdraft fees in 1H24 with Extra Time ® >$17.8BN deposited up to 2 days early in 1H24 with Early Pay® >$22MM in consumer cash back rewards with 5/3 Cash/Back cards in 1H24 ~$3.7BN in lending, investments, financial accessibility and philanthropy towards $2.8BN AREEI initiative 2 44% board diversity 4 57% women; 29% persons of color in workforce Minorities are paid at parity to non- minorities, women are paid 99% of what men are paid 7 >$33MM Tier 1 diverse supplier spend, 7.4% of net addressable spend 9 >1K members in employee Sustainability Business Resource Group >$39BN in sustainable financing towards $100BN goal 1 54% reduction in Scope 1 and 2 GHG emissions since 2014 7 100% renewable power purchased since 2019 7 Offsetting carbon emissions in our operations since 2020 5 $500MM inaugural Green Bond issued in October 2021 6 Fifth Third is committed to supporting customers, communities and employees Sustainability priorities and metrics For end note descriptions, see end note summary starting on page 50

© Fifth Third Bancorp | All Rights Reserved 21 Actions Demonstrating Leadership Third-party recognitions 2023 Sustainability report Aligned with industry standards and frameworks, including SASB and GRI, available on ir.53.com Executive compensation tied to sustainability priorities Sustainability & Stewardship Assessment modifier in 2023 Variable Compensation Plan Office of sustainability Leading comprehensive environmental, social and governance strategy, which includes the Bank’s climate strategy and sustainable finance initiatives 10-year $100BN Environmental & Social Finance Target Expansion of the original $8BN renewable energy goal achieved in June 2022 Dividend Finance A leading fintech point-of-sale (POS) lender, providing financing solutions for residential renewable energy and sustainability-focused home improvement $250,000 donation for disaster relief To Red Cross, United Way through Fifth Third Foundation in addition to other assistance programs Operational sustainability goals Announced six new operational sustainability targets to be achieved by 2030, including Scope 1 and 2 GHG emissions reduction of 75% SSGA R-Factor Score June 2024 Leader Top 10% among Commercial Banks S&P Global ESG Score 51/100 Top quartile among peers 1 MSCI ESG Rating August 2023 A Third consecutive year CSRHub ESG Ranking July 2024 93 rd percentile Top quartile among peers 1 ESG Risk Rating 2 January 2023 Low Risk Top quartile among peers 1 Moody’s ESG Assessment Score June 2023 47/100 Top performer among peers 3 A recognized leader in sustainability among peers Perfect 100% Score Human Rights Campaign Corporate Equity index for eighth consecutive year For Express Banking account Corporate Sustainability Assessment "OUTSTANDING" Received highest overall rating possible on most recent Community Reinvestment Act performance evaluation from the Office of the Comptroller of Currency, including each of the three tests: Lending, Investment, Service. 4 For end note descriptions, see end note summary starting on page 50

© Fifth Third Bancorp | All Rights Reserved Intentionally diversifying fee revenue to perform well in any environment • Total adjusted fee revenue accounted for ~34% of total adjusted revenue for the last twelve months ending 6/30/24 • Focused on diversified revenue to lessen cyclical impacts, with success in Wealth & Asset Management, Capital Markets, and Commercial Payments 22 20% 19% 14% 14% 8% 7% 7% 5% 6% Fee revenue mix is well-diversified LTM 2Q24 adjusted noninterest income mix 2,3 Wealth & Asset Management Card and processing revenue Mortgage banking revenue Leasing business revenue Other noninterest income LTM 2Q24 Adjusted Noninterest Income $2.9BN Capital Markets Other Commercial banking revenue Commercial Payments 1 Consumer deposit fees 34% 27% x Peer Median Fee contribution as a percent of revenue stands out favorably relative to peers Adjusted noninterest income as a percent of adjusted revenue 3 For end note descriptions, see end note summary starting on page 50 LTM 2Q24 LTM 1Q24

© Fifth Third Bancorp | All Rights Reserved Peer 1 Peer 2 Peer 3 Peer 4 Peer 5 Peer 7 Peer 8 Peer 9 Peer 10 Peer 11 0% 2% 4% 6% 8% 10% (15%) (10%) (5%) 0% 5% 10% 15% Peer 1 Peer 4 Peer 6 Peer 7 Peer 9 Peer 10 Peer 11 0.0% 0.5% 1.0% 1.5% 2.0% 2.5% 3.0% 3.5% (80%) (60%) (40%) (20%) 0% 20% 40% 60% Significant fee scale with strong organic growth 23 Commercial payments business Median is the intersect • Best-in-class product penetration while generating solid growth • Expect strong growth in commercial payments and wealth and asset management businesses through the second half of 2024 4 C a p it a l m a r k e t s h e d g in g r e v e n u e 2 a s a % o f a d j u s t e d r e v e n u e 1 Q 2 4 L T M u n l e s s o t h e r w i s e n o t e d Change in capital markets hedging revenue 2 1Q24 LTM vs. 1Q23 LTM unless otherwise noted Wealth & asset management business Capital markets hedging business Median is the intersect Peer 1 Peer 2 Peer 3 Peer 4 Peer 5 Peer 6 Peer 7 Peer 8 Peer 9 Peer 10 Peer 11 0% 1% 2% 3% 4% 5% 6% (15%) (10%) (5%) 0% 5% 10% 15% 20% C o m m e r c ia l p a y m e n t s r e v e n u e 1 a s a % o f a d j u s t e d r e v e n u e 1 Q 2 4 L T M u n l e s s o t h e r w i s e n o t e d Change in commercial payments revenue 1 1Q24 LTM vs. 1Q23 LTM unless otherwise noted W e a lt h & a s s e t m g m t . r e v e n u e 3 a s a % o f a d j u s t e d r e v e n u e 1 Q 2 4 L T M u n l e s s o t h e r w i s e n o t e d Change in wealth & asset mgmt. revenue 3 1Q24 LTM vs. 1Q23 LTM unless otherwise noted Median is the intersect FITB 1Q24 LTM 2Q24 LTM FITB 1Q24 LTM 2Q24 LTM FITB 1Q24 LTM 2Q24 LTM For end note descriptions, see end note summary starting on page 50

© Fifth Third Bancorp | All Rights Reserved Mortgage banking results $ in millions Mortgage banking net revenue Mortgage originations and margins • Mortgage banking net revenue decreased $4 million from the prior quarter, primarily reflecting an increase in MSR asset decay, partially offset by an increase in origination fees and gains on loan sales • $1.6 billion in originations, up 47% from the prior quarter and down 6% compared to the year-ago quarter; ~85% purchase volume Note: totals shown above may not foot due to rounding $ in billions 1.52% 1.71% 1.45% 1.82% 1.34% 1.29%Gain-on-sale margin Gain-on-sale margin represents gains on all loans originated for sale divided by salable originations. Rate lock margin Rate lock margin represents gains recorded associated with salable rate locks divided by salable rate locks. 1.53% 1.68% 24 $59 $57 $66 $54 Mortgage banking net revenue $50 1.30% 1.48%

© Fifth Third Bancorp | All Rights Reserved 25 High quality Shared National Credit portfolio $ in billions; as of 6/30/24 • Reduced balances 12% compared to 2Q23 • ~40% of SNC balances are investment grade equivalent borrowers; independently underwrite each transaction • Lead left / lead right on ~50% of relationships • Crits and NPAs are consistent or lower than the rest of commercial portfolio over a multi-year period SNC portfolio $31.9BN ~27% of total loans Shared National Credit portfolio is well diversified Industry mix Retail 18% Financial services 17% Manufacturing 10% Energy 9% TMT 9% Rental & Leasing 8% Wholesale trade 8% Other industries 21% Note: totals shown above may not foot due to rounding

© Fifth Third Bancorp | All Rights Reserved 41% 37% 36% 30% 26% 22% 17% 16% 16% 15% 14% 14% 14% 13% Peer 12 Peer 11 Peer 10 Peer 9 Peer 8 Peer 7 Peer 6 Peer 5 Peer 4 Peer 3 Peer 2 Peer 1 CRE portfolio is well-positioned 26 Comparing CRE portfolios relative to peers As of 3/31/24 unless otherwise noted CRE loans 1 / total loans Among the lowest CRE concentration relative to peers with strong credit quality 276% 232% 188% 179% 142% 136% 98% 89% 88% 84% 81% 80% 73% 72% Peer 12 Peer 11 Peer 9 Peer 10 Peer 8 Peer 7 Peer 4 Peer 6 Peer 3 Peer 5 Peer 1 Peer 2 CRE loans 1 / total capital CRE criticized asset ratio 2 1 Q 2 4 C R E c r i t i c i z e d a s s e t r a t i o In t e r s e c t i s p e e r m e d i a n Peer 7 Peer 10Peer 8 Peer 11 Peer 4 Peer 5 Peer 9 Peer 2 Peer 3 Peer 6 Peer 1 Peer 12 0% 5% 10% 15% 20% 25% 30% 0% 2% 4% 6% 8% 10% 12% Change in CRE criticized asset ratio 1Q24 vs. 1Q23 FITB 1Q24 crit ratio 2Q24 crit ratio FITB 1Q24 FITB 2Q24 FITB 1Q24 FITB 2Q24 For end note descriptions, see end note summary starting on page 50

© Fifth Third Bancorp | All Rights Reserved Peer 1 Peer 2 Peer 3 Peer 4 Peer 5 Peer 6 Peer 7 Peer 8 7% 8% 9% 10% 11% 12% 13% 14% 0% 1% 2% 3% 4% 5% 6% Peer 1 Peer 2 Peer 3 Peer 4 Peer 5 Peer 6 Peer 7 Peer 8 7% 8% 9% 10% 11% 12% 13% 14% 5% 10% 15% 20% 25% 30% Fed stress test CRE loss rate comparison vs. peers 27 2024 Fed stress test loss rate 1 vs. CRE criticized asset ratio Median is the intersect 2 0 2 4 F e d s t r e s s t e s t C R E l o s s r a t e 2008 – 2009 CRE loss rate 2024 Fed stress test loss rate 1 vs. 2008 - 2009 loss rate 2 Median is the intersect 1Q24 CRE criticized asset ratio 2 0 2 4 F e d s t r e s s t e s t C R E l o s s r a t e FITB 1Q24 crit ratio 2Q24 crit ratio Median 3.1% Median 9.8% Median 9.8% Median 14.0% For end note descriptions, see end note summary starting on page 50

© Fifth Third Bancorp | All Rights Reserved As of 6/30/24 Non-owner occupied CRE represents <10% of total loans 28 Office CRE portfolio stats $ billions $ balance % of total loans LTM NCO % NPLs / loans Multifamily $3.5 3.0% 0.00% 0.00% Hospitality 1.4 1.2 0.00 0.00 Industrial 1.4 1.2 0.00 0.00 Office 1.2 1.0 0.02 0.18 Retail 1.2 1.0 0.00 0.01 Medical Office 0.7 0.6 0.00 0.00 Other 1.5 1.3 (0.16) 0.04 Total non-owner occupied CRE $11.0 9.4% (0.02%) 0.03% Limited non-owner occupied exposure with very strong credit quality vs. PQ Average loan commitment $11.3 million 3% NCOs / average loans (LTM) 0.02% 0.02% Delinquencies / loans 0.00% (0.21)% NPL / loans 0.18% 0.01% Criticized loans / loans 7.5% 0.1% As of 2Q24; Non-owner occupied Total Bancorp loans $117BN • Office CRE of $1.2BN represents 1.0% of total loans • LTV range of 55 – 60% at origination; focus on disciplined regional and national clients with longstanding relationships • Average commit of $11.3MM; conservative underwriting limiting amount of credit extended • Currently not pursuing new Office CRE originations Additional non-owner occupied office CRE metrics Totals shown above may not foot due to rounding

© Fifth Third Bancorp | All Rights Reserved 2Q23 3Q23 4Q23 1Q24 2Q24 Balance, beginning of period $334 $345 $281 $326 $372 Transfers to nonaccrual status 185 53 93 108 51 Transfers to accrual status (58) — — (1) — Transfers to held for sale (4) (6) — (3) — Loan paydowns/payoffs (77) (39) (20) (18) (66) Transfer to OREO — — — — — Charge-offs (35) (72) (30) (40) (83) Draws/other extensions of credit — — 2 — — Balance, end of period $345 $281 $326 $372 $274 2Q23 3Q23 4Q23 1Q24 2Q24 Balance, beginning of period $259 $284 $289 $323 $336 Transfers to nonaccrual status 122 107 141 111 94 Transfers to accrual status (30) (27) (24) (22) (26) Transfers to held for sale — — — — — Loan paydowns/payoffs (23) (28) (26) (23) (23) Transfer to OREO (4) (5) (7) (5) (4) Charge-offs (41) (43) (52) (49) (46) Draws/other extensions of credit 1 1 2 1 1 Balance, end of period $284 $289 $323 $336 $332 NPL 1 Rollforward Commercial Consumer $ in millions $ in millions $ in millions For end note descriptions, see end note summary starting on page 50 29 Total NPL $629 $570 $649 $708 $606 Total new nonaccrual loans - HFI $307 $160 $234 $219 $145 Total NPL

© Fifth Third Bancorp | All Rights Reserved 2Q23 1Q24 2Q24 NCO ratio 1 0.16% 0.19% 0.45% 30-89 Delinquencies 0.16% 0.15% 0.09% 90+ Delinquencies 0.03% 0.02% 0.01% Nonperforming Loans 2 0.45% 0.52% 0.38% 30 Portfolio loans and leases $ in billions Period-end QoQ change Average QoQ change Key statistics Total commercial portfolio overview For end note descriptions, see end note summary starting on page 50; totals shown above may not foot due to rounding 0.4% (1.8%) (2.8%) (1.9%) (0.8%) (1.1%) (1.6%) (3.2%) (1.1%) (0.2%) Period-endAverage

© Fifth Third Bancorp | All Rights Reserved 2Q23 1Q24 2Q24 NCO ratio 1 0.22% 0.27% 0.61% 30-89 Delinquencies 0.13% 0.12% 0.03% 90+ Delinquencies 0.01% 0.02% 0.01% Nonperforming Loans 2 0.57% 0.64% 0.45% 31 Portfolio loans $ in billions Period-end QoQ change Average QoQ change Key statistics Revolving Line Utilization Trend 3 Commercial & industrial overview For end note descriptions, see end note summary starting on page 50; totals shown above may not foot due to rounding — (2.0%) (4.2%) (2.7%) (1.6%) (1.4%) (1.9%) (4.5%) (2.0%) (0.7%) Period-endAverage

© Fifth Third Bancorp | All Rights Reserved 2Q23 1Q24 2Q24 NCO ratio 1 0.00% 0.00% 0.01% 30-89 Delinquencies 0.17% 0.15% 0.18% 90+ Delinquencies 0.12% 0.00% 0.01% Nonperforming Loans 2 0.13% 0.23% 0.23% Commercial real estate overview CRE Mortgage Balance by occupancy CRE Construction Balance by property type Portfolio loans Key statistics Period-end QoQ change Average QoQ change For end note descriptions, see end note summary starting on page 50; totals shown above may not foot due to rounding $ in billions 0.1% (0.5%) 1.2% 1.4% 0.6% 1.7% (0.9%) 1.9% — 1.2% Multifamily OtherRetail Hospitality Office IndustrialHome Builder Non-Owner Occupied Owner Occupied Multifamily 19% Retail 19% Hospitality 18% Office 16% Medical Office 12% Industrial 9% Non-owner occupied property type mix 32 Other 6%

© Fifth Third Bancorp | All Rights Reserved 2Q23 1Q24 2Q24 NCO ratio 1 0.50% 0.67% 0.57% 30-89 Delinquencies 0.48% 0.52% 0.52% 90+ Delinquencies 0.05% 0.05% 0.06% Nonperforming Loans 2 0.62% 0.75% 0.74% Weighted average FICO at origination 3 765 766 766 Weighted average LTV at origination 78% 78% 79% Total consumer portfolio overview 33 Portfolio FICO score at origination 3 $ in billions Portfolio loans Key statistics Period-end QoQ change Average QoQ change For end note descriptions, see end note summary starting on page 50; totals shown above may not foot due to rounding 0.5% (0.7%) (1.4%) (0.2%) 0.3% (0.2%) (1.2%) (1.1%) 0.2% 0.5% 750+720-749<660 660-719 2% Period-endAverage

© Fifth Third Bancorp | All Rights Reserved 2Q23 1Q24 2Q24 NCO ratio 1 0.00% (0.01%) (0.01%) 30-89 Delinquencies 0.11% 0.14% 0.15% 90+ Delinquencies 0.04% 0.03% 0.05% Nonperforming Loans 2 0.78% 0.81% 0.76% Weighted average FICO at origination 3 764 764 764 Weighted average LTV at origination 71% 72% 73% Residential Mortgage overview 34 Portfolio FICO score at origination 3 $ in billions Portfolio loans Key statistics Period-end QoQ change Average QoQ change For end note descriptions, see end note summary starting on page 50; totals shown above may not foot due to rounding (0.4%) (0.7%) (1.6%) (0.9%) 0.2% (0.6%) (1.2%) (1.5%) (0.2%) 0.3% 750+720-749<660 660-719 3% Period-endAverage

© Fifth Third Bancorp | All Rights Reserved 2Q23 1Q24 2Q24 NCO ratio 1 0.06% 0.03% (0.05%) 30-89 Delinquencies 0.61% 0.64% 0.66% 90+ Delinquencies 0.03% 0.00% 0.00% Nonperforming Loans 2 1.56% 1.55% 1.54% Weighted average FICO at origination 3 767 767 768 Weighted average LTV at origination 67% 67% 67% Home equity overview 35 Portfolio FICO score at origination 3 $ in billions Portfolio balances Key statistics Period-end QoQ change Average QoQ change For end note descriptions, see end note summary starting on page 50; totals shown above may not foot due to rounding (1.7%) (1.0%) 0.2% 0.7% (0.1%) (1.2%) (0.3%) 0.5% (0.8%) 2.2% 750+720-749<660 660-719 1% Period-endAverage

© Fifth Third Bancorp | All Rights Reserved 2Q23 1Q24 2Q24 NCO ratio 1 0.38% 0.64% 0.46% 30-89 Delinquencies 0.76% 0.82% 0.83% Nonperforming Loans 2 0.14% 0.21% 0.23% Indirect secured consumer overview 36 Portfolio FICO score at origination Includes primarily RV & Marine $ in billions Portfolio loans Key statistics Period-end QoQ change Average QoQ change For end note descriptions, see end note summary starting on page 50; totals shown above may not foot due to rounding 1% (1.9%) (3.0%) (4.2%) 0.3% 1.3% (2.3%) (4.1%) (3.0%) 2.3% 0.9% 750+720-749<660 660-719 Period-endAverage Weighted average FICO at origination 3 768 769 770 Weighted average LTV at origination 88% 88% 88%

© Fifth Third Bancorp | All Rights Reserved 2Q23 1Q24 2Q24 NCO ratio 1 3.61% 4.19% 3.98% 30-89 Delinquencies 1.10% 1.09% 1.10% 90+ Delinquencies 0.94% 1.09% 0.98% Nonperforming Loans 2 1.65% 1.84% 1.79% Credit card overview 37 Portfolio FICO score at origination 3 750+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 50; totals shown above may not foot due to rounding 0.2% 1.4% 1.2% (3.1%) (2.5%) 3.2% (0.1%) 2.6% (6.9%) (0.2%) Weighted average FICO at origination 3 742 743 743 4% Period-endAverage

© Fifth Third Bancorp | All Rights Reserved 2Q23 1Q24 2Q24 NCO ratio 1 0.95% 1.31% 1.25% 30-89 Delinquencies 0.27% 0.36% 0.33% Nonperforming Loans 2 0.84% 1.68% 1.67% Weighted average FICO at origination 3 769 771 772 Solar energy installation overview 38 Portfolio FICO score at origination $ in billions Portfolio loans Key statistics Period-end QoQ change Average QoQ change For end note descriptions, see end note summary starting on page 50; totals shown above may not foot due to rounding 28.5% 16.4% 11.9% 4.5% 3.2% 22.6% 14.3% 10.2% 3.8% 2.1% 750+720-749660-719 Period-endAverage

© Fifth Third Bancorp | All Rights Reserved • 58% allocation to bullet/locked-out cash flow securities • AFS & HTM spot yield: 3.21% 4 • AFS net unrealized pre-tax loss: $4.6BN $19.3BN fixed | $52.5BN variable 1,2 Commercial loans 1,2 Balance sheet positioning 100% Fix | —% Variable 87% Fix | 13%Variable Investment portfolioConsumer loans 1 Long-term debt 3 $38.6BN fixed | $6.2BN variable 1 $10.3BN fixed | $6BN variable 3 • 1M based: 49% 5,8 • 3M based: 7% 5,8 • Prime & O/N based: 17% 5,8 • Other based: 1% 5,7,8 • Weighted avg. life: 1.7 years 1 • 1M based: 1% 6,8 • Prime: 12% 6 • Other based: 1% 6,8,9 • Weighted avg. life: 3.95 years 1 • SOFR based: 37% • Weighted avg. life: 4 years C&I 27% Fix | 73% Variable Coml. mortgage 21% Fix | 79% Variable Coml. lease 100% Fix | 0% Variable Resi mtg.& construction 96% Fix | 4% Variable Home equity 10% Fix | 90% Variable Senior debt 50% Fix | 50% Variable Sub debt 59% Fix | 41% Variable Auto securiz. proceeds 85% Fix | 15% Variable Coml. construction 2% Fix | 98% Variable Credit card 39% Fix | 61% Variable Other 86% Fix | 14% Variable Other 98% Fix | 2% Variable Level 1 77% Fix | 23% Variable Level 2A Non-HQLA/ Other Includes $4.8BN non-agency CMBS (All super-senior, AAA-rated securities; 59.3% WA LTV, ~39% WA credit enhancement) Auto/Indirect 100% Fix | 0% Variable For end note descriptions, see end note summary starting on page 50; totals shown above may not foot due to rounding 39 The information above incorporates the impact of $8BN in C&I receive-fixed swaps and ~$6BN fair value hedges associated with long-term debt (receive-fixed swaps)

© Fifth Third Bancorp | All Rights Reserved 40 Unsecured debt maturities Composition of deposits by segment Holding company: • Holding Company cash as of June 30, 2024: $4.7BN • Cash on hand at Holding Company currently sufficient to satisfy all fixed obligations for ~34 months (debt maturities, common and preferred dividends, interest, and other expenses) • The Holding Company did not issue or have long-term debt maturities in 2Q24 Bank entity: • The Bank did not issue or have long-term debt maturities in 2Q24 • Available and contingent borrowing capacity (2Q24): ‒ FHLB ~$9.56BN available, ~$17.0BN total ‒ Federal Reserve Discount Window ~$56.93BN Period-end as of 6/30/24 Strong liquidity profile $ millions – excl. Retail Brokered & Institutional CDs

© 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 simulations 1,2 •Models are calibrated to performance in prior rate cycles •Additionally, rate risk measures assume no deposit re-pricing lags and $350MM of DDA runoff per 100 bps of rate hikes As of June 30, 2024: •50% of HFI loans were variable rate net of existing hedges (73% of total commercial; 14% of total consumer) •Short-term borrowings represent only 2% of total funding •Approximately $13.4BN in non-core funding matures beyond one year 41 % 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 (3.3%) (4.6%) (5.0%) (6.0%) +100 Ramp over 12 months (1.7%) (2.2%) NA NA -100 Ramp over 12 months 0.5% 0.1% NA NA -200 Ramp over 12 months 0.9% (0.4%) (5.0%) (6.0%) 5% Higher Beta 5% Lower Beta Change in interest rates (bps) 12 months 13 to 24 months 12 months 13 to 24 months +200 Ramp over 12 months (3.8%) (5.4%) (2.4%) (2.9%) +100 Ramp over 12 months (1.9%) (2.6%) (1.2%) (1.3%) -100 Ramp over 12 months 0.6% 0.3% 0.2% (0.5%) -200 Ramp over 12 months 1.1% 0.2% 0.2% (1.7%) 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 (4.4%) (5.7%) (2.3%) (3.5%) +100 Ramp over 12 months (2.6%) (3.2%) (0.7%) (1.2%) -100 Ramp over 12 months (0.3%) (0.6%) 1.3% 0.8% -200 Ramp over 12 months 0.2% (0.9%) 1.6% 0.1% For end note descriptions, see end note summary starting on page 50

© Fifth Third Bancorp | All Rights Reserved Classification: Internal Use • Includes accounts expected to reprice with market rates and time deposits ‒ ~75% of total CDs $250K or less will mature by 12/31/24 • Beta in falling rate environment: 80 – 100% • Accounts with an intermediate rate • Beta in falling rate environment: 35 – 45% 42 Interest-bearing deposit mix Stable deposit portfolio well positioned for lower rates Low beta / low cost 1 Mid-beta / mid-cost 2 Market priced & time deposits 3 Interest-bearing deposit mix As of 6/30/24 $126BN Including: • ~$35BN of indexed deposits • $9.8BN of CDs $250K or less • $4.1BN of CDs $250K+ • Mostly low-rate and stable consumer & relationship-based deposits • Beta in falling rate environment: ~0% For end note descriptions, see end note summary starting on page 50

© Fifth Third Bancorp | All Rights Reserved 43 Investment portfolio composition Investment portfolio characteristics Held-to-maturity portfolio • $11.4BN 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 • $43.6BN portfolio • $5BN Non-agency CMBS portfolio ‒ All positions are super-senior AAA rated with WA credit enhancement of 39% ‒ Securities are 20% risk-weighted and are pledgeable to the FHLB ‒ Underlying loans in our structures have a WA LTV of ~60% ‒ Credit risk team analyzes transactions at the underlying property-level, similar to what we do for all our CRE loan commitments HTM 21% AFS 79% AFS and HTM portfolio; amortized cost basis; as of 6/30/24 Amortized cost basis; as of 6/30/24 Securities mix Effective duration Agency CMBS Agency RMBS Non-agency CMBS Treasuries Other HTM 35% 44% — 20% — 5.8 AFS 56% 13% 11% 8% 12% 4.0 Total 51% 19% 9% 11% 10% 4.4 Securities portfolio Securities portfolio $55BN ~28% of interest earning assets ‒ Leverage analytical tools with over 40+ years of historical data to stress the securities at an individual property level on a recurring bases, including significant market distress in real estate valuations Totals shown above may not foot due to rounding

Classification: Internal Use © Fifth Third Bancorp | All Rights Reserved Securities portfolio AOCI accretion 44 Projected AOCI accretion 1 $ in billions; 6/30/24 AFS and HTM portfolio unrealized loss, after-tax For end note descriptions, see end note summary starting on page 50; totals shown above may not foot due to rounding ~62% capital accretion ~26% capital accretion Assuming implied forward curve 2 Assuming static rates ~57% capital accretion ~21% capital accretion

© Fifth Third Bancorp | All Rights Reserved Cash flow hedges ($3BN @ 2.25% 1- month LIBOR strike) 2 Floors and receive-fixed swaps 1 EOP notional value of cash flow hedges ($ in billions) Actual For end note descriptions, see end note summary starting on page 50 45 Floors Forward starting receive-fixed swaps 3 Existing receive-fixed swaps 4 weighted average receive fixed rate (swaps only) 3.32%3.05%3.02% 3.17% 3.19% 3.27% 3.29% 3.44% 5 3.03% 6

© Fifth Third Bancorp | All Rights Reserved Preferred dividend schedule 3Q24 4Q24 1Q25 2Q25 Series H ~$13 ~$13 ~$12 ~$12 Series I ~$11 ~$10 ~$10 ~$10 Series J ~$7 ~$7 ~$6 ~$6 Series K ~$3 ~$3 ~$3 ~$3 Series L ~$4 ~$4 ~$4 ~$4 Class B Series A ~$3 ~$3 ~$3 ~$3 Total ~$41 ~$40 ~$38 ~$38 Upcoming preferred dividend schedule 1 $ in millions For end note descriptions, see end note summary starting on page 50; totals shown above may not foot due to rounding 46 Floating 2 Floating 2 Floating 2

© Fifth Third Bancorp | All Rights Reserved 2Q24 adjustments and notable items Adjusted EPS of $0.86 1 For end note descriptions, see end note summary starting on page 50 47 2Q24 reported EPS of $0.81 included a negative $0.05 impact from the following notable items: • $23 million pre-tax (~$18 million after-tax 2 ) charge related to the valuation of the Visa total return swap • $18 million pre-tax (~$14 million after-tax 2,3 ) charge related to legal settlements and remediations • $6 million pre-tax (~$5 million after-tax 2 ) charge related to FDIC special assessment

© Fifth Third Bancorp | All Rights Reserved For end note descriptions, see end note summary starting on page 50; totals shown above may not foot due to rounding 48 Fifth Third Bancorp and Subsidiaries For the Three Months Ended $ and shares in millions June March December September June (unaudited) 2024 2024 2023 2023 2023 Net income (U.S. GAAP) (a) $601 $520 $530 $660 $601 Net income (U.S. GAAP) (annualized) (b) $2,417 $2,091 $2,103 $2,618 $2,411 Net income available to common shareholders (U.S. GAAP) (c) $561 $480 $492 $623 $562 Add: Intangible amortization, net of tax 7 8 8 8 8 Tangible net income available to common shareholders (d) $568 $488 $500 $631 $570 Tangible net income available to common shareholders (annualized) (e) $2,284 $1,963 $1,984 $2,503 $2,286 Net income available to common shareholders (annualized) (f) $2,256 $1,931 $1,952 $2,471 $2,254 Average Bancorp shareholders' equity (U.S. GAAP) (g) $18,707 $18,727 $17,201 $17,305 $18,344 Less: Average preferred stock (h) (2,116) (2,116) (2,116) (2,116) (2,116) Average goodwill (4,918) (4,918) (4,919) (4,919) (4,919) Average intangible assets and other servicing rights (111) (121) (130) (141) (152) Average tangible common equity (i) $11,562 $11,572 $10,036 $10,129 $11,157 Less: Average accumulated other comprehensive income ("AOCI") 5,278 4,938 6,244 5,835 4,480 Average tangible common equity, excluding AOCI (j) $16,840 $16,510 $16,280 $15,964 $15,637 Adjustments (pre-tax items) Valuation of Visa total return swap 23 17 22 10 30 Legal settlements and remediations 18 19 — — 12 FDIC special assessment 6 33 224 — — Fifth Third Foundation contribution — — 15 — — Restructuring severance expense — — 5 — 12 Adjustments - after-tax 1,2 (k) $37 $55 $205 $8 $43 Adjustments (tax related items) Tax benefit associated with resolution of certain acquisition related tax matters — — (17) — — Adjustments (tax related items) (l) — — (17) — — Adjusted net income [(a) + (k)+ (l)] $638 $575 $718 $668 $644 Adjusted net income (annualized) (m) $2,566 $2,313 $2,849 $2,650 $2,583 Adjusted net income available to common shareholders [(c) + (k) + (l)] $598 $535 $680 $631 $605 Adjusted net income available to common shareholders (annualized) (n) $2,405 $2,152 $2,698 $2,503 $2,427 Adjusted tangible net income available to common shareholders [(d) + (k) + (l)] 605 $543 $688 $639 $613 Adjusted tangible net income available to common shareholders (annualized) (o) $2,433 $2,184 $2,730 $2,535 $2,459 Average assets (p) $212,475 $213,203 $214,057 $208,385 $206,079 Metrics: Return on assets (b) / (p) 1.14% 0.98% 0.98% 1.26% 1.17% Adjusted return on assets (m) / (p) 1.21% 1.08% 1.33% 1.27% 1.25% Return on average common equity (f) / [(g) + (h)] 13.6% 11.6% 12.9% 16.3% 13.9% Adjusted return on average common equity (n) / [(g) + (h)] 14.5% 13.0% 17.9% 16.5% 15.0% Return on average tangible common equity (e) / (i) 19.8% 17.0% 19.8% 24.7% 20.5% Adjusted return on average tangible common equity (o) / (i) 21.0% 18.9% 27.2% 25.0% 22.0% Adjusted return on average tangible common equity, excluding AOCI (o) / (j) 14.4% 13.2% 16.8% 15.9% 15.7% Non-GAAP reconciliation

© Fifth Third Bancorp | All Rights Reserved Non-GAAP reconciliation For end note descriptions, see end note summary starting on page 50; totals shown above may not foot due to rounding 49 Fifth Third Bancorp and Subsidiaries For Three Months Ended $ and shares in millions June March December September June (unaudited) 2024 2024 2023 2023 2023 Average interest-earning assets (a) $194,499 $195,349 $198,166 $192,216 $189,060 Net interest income (U.S. GAAP) (b) $1,387 $1,384 $1,416 $1,438 $1,457 Add: Taxable equivalent adjustment 6 6 7 7 6 Net interest income (FTE) (c) $1,393 $1,390 $1,423 $1,445 $1,463 Legal settlements and remediations 5 — — — — Adjusted net interest income (FTE) (d) $1,398 $1,390 $1,423 $1,445 $1,463 Net interest income (FTE) (annualized) (e) $5,603 $5,592 $5,646 $5,732 $5,868 Adjusted net interest income (FTE) (annualized) (f) $5,623 $5,591 $5,645 $5,732 $5,868 Noninterest income (U.S. GAAP) (g) $695 $710 $744 $715 $726 Valuation of Visa total return swap 23 17 22 10 30 Legal settlements and remediations 2 — — — — Adjusted noninterest income (h) $720 $727 $766 $725 $756 Add: Securities (gains)/losses (3) (10) (15) 7 (7) Adjusted noninterest income, (excl. securities (gains)/losses) $717 $717 $751 $732 $749 Noninterest expense (U.S. GAAP) (i) $1,221 $1,342 $1,455 $1,188 $1,231 Legal settlements and remediations (11) (19) — — (12) FDIC Special Assessment (6) (33) (224) — — Fifth Third Foundation contribution — — (15) — — Restructuring severance expense — — (5) — (12) Adjusted noninterest expense (j) $1,204 $1,290 $1,211 $1,188 $1,207 Metrics: Revenue (FTE) (c) + (g) 2,088 2,100 2,167 2,160 2,189 Adjusted revenue (d) + (h) 2,118 2,117 2,189 2,170 2,219 Pre-provision net revenue [(c) + (g) - (i)] 867 758 712 972 958 Adjusted pre-provision net revenue [(d) + (h) - (j)] 914 827 978 982 1,012 Net interest margin (FTE) (e) / (a) 2.88% 2.86% 2.85% 2.98% 3.10% Adjusted net interest margin (FTE) (f) / (a) 2.89% 2.86% 2.85% 2.98% 3.10% Efficiency ratio (FTE) (i) / [(c) + (g)] 58.5% 63.9% 67.2% 55.0% 56.2% Adjusted efficiency ratio (j) / [(d) + (h)] 56.8% 60.9% 55.3% 54.7% 54.4%

© 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 48 and 49 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 reconciliation on pages 48 and 49 of this presentation and use of non-GAAP measures on pages 27-29 of the earnings release. 2. Return on tangible common equity excludes AOCI; Certain peers excluded due to limited data. Slide 5 end notes 1. Results are on a fully-taxable equivalent basis; non-GAAP measure: see reconciliation on pages 48 and 49 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 48 and 49 of this presentation and use of non-GAAP measures on pages 27-29 of the earnings release. Slide 7 end notes 1. Non-GAAP measure: see reconciliation on pages 48 and 49 of this presentation and use of non-GAAP measures on pages 27-29 of the earnings release. Slide 8 end notes 1. Includes taxable and tax-exempt securities. Slide 10 end notes 1. Insured by FDIC product type. 2. Data sourced from S&P Global Market Intelligence with deposits per branch capped at $250MM per June 2023 FDIC data; Midwest and Southeast rankings represent in footprint deposit market share. 3. See forward-looking statements on page 2 of this presentation regarding forward-looking non-GAAP measures and use of non-GAAP measures on pages 27-29 of the earnings release. 4. Pro-forma mix including the impact of the MB acquisition. Slide 11 end notes Note: S&P Global Market Intelligence and company filings. 1. Represents percentage of deposits (capped at $1billion) of MSA total deposit rankings. Slide 12 end notes 1. Excludes HFS loans. Slide 13 end notes 1. 2Q24 commercial and consumer portfolio make up ~$88M and ~$49M, 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. 50 Earnings presentation end notes

© Fifth Third Bancorp | All Rights Reserved Earnings presentation end notes Slide 18 end notes Note: Assets, deposits, and branches as of 6/30/24. 1. Rankings as of 3/31/24 and consist of US commercial banks and exclude foreign, trust, & traditional investment banks. 2. Includes MSAs with $5BN+ in deposits on a capped basis (deposits per branch capped at $250MM per June 2023 FDIC data). 3. Data sourced from S&P Global Market Intelligence. 4. Deposits per branch capped at $250MM per June 2023 FDIC data; Midwest and Southeast rankings represent in footprint deposit market share. 5. Source: 2023 Cash Management Services Survey administered by EY. Slide 20 end notes Data is for 2Q24, unless otherwise noted 1. Data from 1/1/2021 through 6/30/2024. 2. The timeframe for $2.8BN commitment to Accelerate Racial Equity, Equality and Inclusion initiative was from 1/1/21 – 12/31/23. 3. The timeframe for $180MM Empowering Black Futures Neighborhood Investment Program is from 6/1/21 – 12/31/2025. 4. Representing ethnicity or gender. 5. For Scope 1, Scope 2 and business travel under Scope 3 emissions. 6. Sustainable Bond Report can be found at ir.53.com/esg/Sustainable-Bonds. 7. For fiscal year 2023. 8. As of May 2024. 9. Data is as of 1Q24. 10. Exam period ending in 2021. Slide 21 end notes 1. Peer Group comprises of Fifth Third's board approved peers. 2. From leading third party ESG data provider. 3. Among Retail & Specialized Banks in North America. 4. Exam period ending in 2021. Slide 22 end notes 1. Gross Treasury management fees. 2. Excluding securities gains/losses. 3. Non-GAAP measure: see reconciliation on pages 48 and 49 of this presentation and use of non-GAAP measures on pages 27-29 of the earnings release. Slide 23 end notes 1. Commercial payments revenue defined as total deposit fees less consumer (OD, maintenance, and ATM fees) per regulatory filings. 2. Trading revenue less equity securities and index revenue per regulatory filings. 3. Wealth and asset management revenue per company filings. 4. 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 26 end notes 1. Source: FR Y-9C filings; 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: GAAP filings; CRE criticized asset ratios exclude owner-occupied loans where applicable. Slide 27 end notes 1. CCAR loss rates are cumulative, not annualized, and as reported by the Federal Reserve on June 26th, 2024. 2. 2008-2009 loss rates are cumulative, not annualized, and sourced from S&P Global Market Intelligence. Slide 29 end notes 1. Loan balances exclude nonaccrual loans HFS. Slide 30 end notes 1. Net losses charged-off as a percent of average portfolio loans and leases presented on an annualized basis. 2. Nonperforming portfolio loans and leases as a percent of portfolio loans and leases. 51

© Fifth Third Bancorp | All Rights Reserved Slide 31 end notes 1. Net losses charged-off as a percent of average portfolio loans and leases presented on an annualized basis. 2. Nonperforming portfolio loans and leases as a percent of portfolio loans and leases. 3. Total commercial portfolio line utilization. Slide 32 end notes 1. Net losses charged-off as a percent of average portfolio loans and leases presented on an annualized basis. 2. Nonperforming portfolio loans and leases as a percent of portfolio loans and leases. Slide 33 end notes 1. Net losses charged-off as a percent of average portfolio loans and leases presented on an annualized basis. 2. Nonperforming portfolio loans and leases as a percent of portfolio loans and leases. 3. FICO distributions at origination exclude certain acquired mortgage & home equity loans, and ~$80 million of credit loans on book primarily ~15+ years. Slide 34 end notes 1. Net losses charged-off as a percent of average portfolio loans and leases presented on an annualized basis. 2. Nonperforming portfolio loans and leases as a percent of portfolio loans and leases. 3. FICO distributions at origination exclude certain acquired mortgage loans. Slide 35 end notes 1. Net losses charged-off as a percent of average portfolio loans and leases presented on an annualized basis. 2. Nonperforming portfolio loans and leases as a percent of portfolio loans and leases. 3. FICO distributions at origination exclude certain acquired home equity loans. Slide 36 end notes 1. Net losses charged-off as a percent of average portfolio loans and leases presented on an annualized basis. 2. Nonperforming portfolio loans and leases as a percent of portfolio loans and leases. Slide 37 end notes 1. Net losses charged-off as a percent of average portfolio loans and leases presented on an annualized basis. 2. Nonperforming portfolio loans and leases as a percent of portfolio loans and leases. 3. FICO distributions at origination exclude ~$80 million from credit loans on book primarily ~15+ years. Slide 38 end notes 1. Net losses charged-off as a percent of average portfolio loans and leases presented on an annualized basis. 2. Nonperforming portfolio loans and leases as a percent of portfolio loans and leases. Slide 39 end notes Note: Data as of 6/30/2024. 1. Excludes HFS Loans & Leases. 2. Fifth Third had $8BN of commercial variable loans classified as fixed given the impacts of $8BN in C&I receive-fix swaps; Excludes forward starting swaps & floors; Excludes $3BN in out-of-the-money floors with a 2.25% 1ML strike currently on the balance sheet. 3. Fifth Third had $5.96BN SOFR receive-fix swaps outstanding against long-term debt, which are being included in floating long-term debt. 4. Yield of the 2Q24 weighted average taxable and non-taxable (tax equivalent) available for sale and held to maturity portfolio. 5. As a percent of total commercial. 6. As a percent of total consumer. 7. Includes 12M term, 6M term, and Fed Funds based loans. 8. Term points include SOFR, BSBY, AMERIBOR, Treasuries & FX curves. 9. Includes overnight term, 3M term, 6M term, 12M term and Fed Funds. 52 Earnings presentation end notes

© Fifth Third Bancorp | All Rights Reserved 53 Earnings presentation end notes Slide 41 end notes Note: Data as of 6/30/24; 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 42 end notes 1. Includes deposits with a rate below 100 bps and time deposits with remaining maturity of more than 12 months. 2. Comprised of deposits with a rate between 100 – 400 bps and time deposits maturing in the next 6 – 12 months. 3. Includes deposits with a rate above 400 bps and corporate sweep deposits, CDs $250K or less maturing in the next 6 months, and CDs over $250K. Slide 44 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 6/30/2024 portfolio utilizing the implied forward curve as of 7/1/2024. Slide 45 end notes 1. Represents forward looking statement, please refer to page 2 of this presentation regarding forward-looking non-GAAP measures. 2. Effective July 1, 2023 the rate index transitioned from 1-month LIBOR to compound SOFR + 11.448 bps. 3. Forward starting swaps are receive fixed / pay compound SOFR + 11.448 bps. 4. Existing swaps transition from receive fixed / pay 1-month LIBOR to receive fixed / pay compound SOFR + 11.448 bps on their next post-LIBOR cessation resets. 5. $3BN floors mature on 12/16/2024. 6. Reflects the weighted average receive fixed rate (swaps only) as of 6/30/24. Slide 46 end notes 1. Represents forward looking statement, please refer to page 2 of this presentation regarding forward-looking non-GAAP measures. 2. Projected dividends for the Series J, Series H, and Series I reflect 3m Term SOFR plus the applicable spread. For the periods referencing 3m Term SOFR, the projections include the 26.161bps spread adjustment pursuant to the final rule adopted by the Federal Reserve. Slide 47 end notes 1. Average diluted common shares outstanding (thousands); 691,083; all adjusted figures are non-GAAP measures; see reconciliation on pages 48 and 49 of this presentation and the use of non-GAAP measures on pages 27-29 of the earnings release. 2. Assumes a 23% tax rate. 3. A portion of the adjustments related to legal settlements and remediations is non tax deductible. Slide 48 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 49 end notes Note: See pages 27-29 of the earnings release for a discussion on the use of non-GAAP financial measures.

Cover Page	Jul. 19, 2024
Entity Information [Line Items]
Document Type	8-K
Document Period End Date	Jul. 19, 2024
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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