fitb-20221020

Fifth Third Announces Third Quarter 2022 Results

Reported diluted earnings per share of $0.91

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



Key Financial Data							Key Highlights

$ millions for all balance sheet and income statement items
	3Q22		2Q22		3Q21		Select Business Highlights: •Generated consumer household growth of 3% compared to 3Q21 •Increased quarterly cash dividend on common shares 3 cents, or 10% •Private Bank recognized as Best Private Bank for High Net Worth Clients by Digital Banker and Global Private Banker •Surpassed 1 million Momentum banking accounts Select Financial Highlights: •ROTCE(a) of 21.9%; adjusted ROTCE(a) of 17.7% excl. AOCI •Compared to 3Q21, PPNR(a) increased 18% (adjusted PPNR(a) increased 24%) •Efficiency ratio(a) of 53.7%, a 4 point improvement from 3Q21 •Net interest income(a) increased 12% compared to 2Q22; NIM(a) up 30 basis points compared to 2Q22 •ACL of 1.91%, an increase of 6 bps from 2Q22 (increase of 2 bps excluding Dividend Finance); NPA ratio of 0.46% improved 1 bp compared to 2Q22

Income Statement Data
Net income available to common shareholders	$631		$526		$684
Net interest income (U.S. GAAP)	1,498		1,339		1,189
Net interest income (FTE)(a)	1,502		1,342		1,192
Noninterest income	672		676		836
Noninterest expense	1,167		1,112		1,172

Per Share Data
Earnings per share, basic	$0.91		$0.76		$0.98
Earnings per share, diluted	0.91		0.76		0.97
Book value per share	21.30		24.56		29.59
Tangible book value per share(a)	13.87		17.10		22.79

Balance Sheet & Credit Quality
Average portfolio loans and leases	$119,644		$117,693		$107,970
Average deposits	159,469		162,890		162,647
Net charge-off ratio(b)	0.21	%	0.21	%	0.08	%
Nonperforming asset ratio(c)	0.46		0.47		0.52

Financial Ratios
Return on average assets	1.25	%	1.09	%	1.36	%
Return on average common equity	14.9		12.3		13.0
Return on average tangible common equity(a)	21.9		17.5		16.9
CET1 capital(d)(e)	9.11		8.95		9.86
Net interest margin(a)	3.22		2.92		2.59
Efficiency(a)	53.7		55.1		57.8
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.

CEO Commentary

Our third quarter financial results were strong and reflected our disciplined approach throughout the bank. We generated record adjusted revenue driven by interest-earning assets growth combined with a 30 basis point improvement in our net interest margin. We also achieved one of our lowest adjusted efficiency ratios over the past decade reflecting our expense discipline.

We extended our track record of strong organic growth, adding new quality relationships in commercial and new households in consumer. Provide and Dividend Finance - our recent fintech acquisitions - have also contributed to our healthy loan growth with record originations. We are committed throughout the bank to continuous improvement and developing innovative, software-led solutions to deliver best-in-class products and services.

Fifth Third has been built to perform well through-the-cycle. Our key credit quality metrics in both commercial and consumer portfolios remain resilient, reflecting our focus on high-quality relationships and disciplined approach to client selection. We remain well positioned to outperform peers and generate long-term sustainable value for customers, communities, employees and shareholders.

-Tim Spence, President and CEO

Investor contact: Chris Doll (513) 534-2345 | Media contact: Ed Loyd (513) 534-6397 October 20, 2022


Income Statement Highlights
($ in millions, except per share data)	For the Three Months Ended			% Change
	September	June	September
	2022	2022	2021	Seq	Yr/Yr
Condensed Statements of Income
Net interest income (NII)(a)	$1,502	$1,342	$1,192	12%	26%
Provision for (benefit from) credit losses	158	179	(42)	(12)%	NM
Noninterest income	672	676	836	(1)%	(20)%
Noninterest expense	1,167	1,112	1,172	5%	—
Income before income taxes(a)	$849	$727	$898	17%	(5)%

Taxable equivalent adjustment	$4	$3	$3	33%	33%
Applicable income tax expense	192	162	191	19%	1%
Net income	$653	$562	$704	16%	(7)%
Dividends on preferred stock	22	36	20	(39)%	10%
Net income available to common shareholders	$631	$526	$684	20%	(8)%
Earnings per share, diluted	$0.91	$0.76	$0.97	20%	(6)%

Fifth Third Bancorp (NASDAQ®: FITB) today reported third quarter 2022 net income of $653 million compared to net income of $562 million in the prior quarter and $704 million in the year-ago quarter. Net income available to common shareholders in the current quarter was $631 million, or $0.91 per diluted share, compared to $526 million, or $0.76 per diluted share, in the prior quarter and $684 million, or $0.97 per diluted share, in the year-ago quarter.

Diluted earnings per share impact of certain item(s) - 3Q22

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

Valuation of Visa total return swap (noninterest income)

$(13)

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

$(0.02)

1Diluted earnings per share impact reflects 694.593 million average diluted shares outstanding


Net Interest Income
(FTE; $ in millions)(a)	For the Three Months Ended						% Change
	September		June		September
	2022		2022		2021		Seq	Yr/Yr
Interest Income
Interest income	$1,764		$1,467		$1,295		20%	36%
Interest expense	262		125		103		110%	154%
Net interest income (NII)	$1,502		$1,342		$1,192		12%	26%


Average Yield/Rate Analysis							bps Change
Yield on interest-earning assets	3.78	%	3.19	%	2.81	%	59	97
Rate paid on interest-bearing liabilities	0.87	%	0.43	%	0.36	%	44	51

Ratios
Net interest rate spread	2.91	%	2.76	%	2.45	%	15	46
Net interest margin (NIM)	3.22	%	2.92	%	2.59	%	30	63

Compared to the prior quarter, NII increased $160 million, or 12%, primarily reflecting higher market rates, growth in commercial loan balances, the full quarter impact of securities purchased in the second quarter, as well as a higher day count, partially offset by an increase in wholesale funding primarily due to a decline in average core deposit balances. Compared to the prior quarter, NIM increased 30 bps, reflecting the net benefit of higher market rates as well as a decrease in other short-term investments (primarily interest-bearing cash), partially offset by the aforementioned increase in wholesale funding.

Compared to the year-ago quarter, NII increased $310 million, or 26%, reflecting the net benefit of higher market rates, as well as growth in investment portfolio balances and C&I loan balances, partially offset by lower PPP-related income and lower interest income from government guaranteed mortgage buyouts. Compared to the year-ago quarter, NIM increased 63 bps, reflecting the benefit of higher market rates as well as growth in investment portfolio balances, partially offset by a decrease in other short-term investments (primarily interest-bearing cash).


Noninterest Income
($ in millions)	For the Three Months Ended			% Change
	September	June	September
	2022	2022	2021	Seq	Yr/Yr
Noninterest Income
Service charges on deposits	$143	$154	$152	(7)%	(6)%
Commercial banking revenue	134	137	152	(2)%	(12)%
Mortgage banking net revenue	69	31	86	123%	(20)%
Wealth and asset management revenue	141	140	147	1%	(4)%
Card and processing revenue	105	105	102	—	3%
Leasing business revenue	60	56	78	7%	(23)%
Other noninterest income	59	85	120	(31)%	(51)%
Securities losses, net	(38)	(32)	(1)	19%	NM
Securities losses, net - non-qualifying hedges
on mortgage servicing rights	(1)	—	—	NM	NM
Total noninterest income	$672	$676	$836	(1)%	(20)%

Reported noninterest income decreased $4 million, or 1%, from the prior quarter, and decreased $164 million, or 20%, from the year-ago quarter. The reported results reflect the impact of certain items in the table below. Reported current quarter results included $38 million of net securities losses, which included $7 million in net losses attributable to mark-to-market impacts related to investments supporting non-qualified deferred compensation plans, as well as a $28 million net loss attributable to market value changes on Fifth Third's shares of Rubicon Technologies, Inc. and AvidXchange Holdings, Inc.


Noninterest Income excluding certain items
($ in millions)	For the Three Months Ended
	September	June	September
	2022	2022	2021
Noninterest Income excluding certain items
Noninterest income (U.S. GAAP)	$672	$676	$836
Valuation of Visa total return swap	17	18	17
Net disposition charges/(gain)	—	6	(60)
Securities losses, net	38	32	1
Noninterest income excluding certain items(a)	$727	$732	$794

Compared to the prior quarter, noninterest income excluding certain items decreased $5 million, or 1%. Compared to the year-ago quarter, noninterest income excluding certain items decreased $67 million, or 8%.

Compared to the prior quarter, service charges on deposits decreased $11 million, or 7%, reflecting the impact of higher treasury management earnings credits which more than offset gross revenue growth, as well as the elimination of consumer non-sufficient funds fees. Commercial banking revenue decreased $3 million, or 2%, primarily driven by lower M&A advisory revenue and corporate bond fees, partially offset by higher loan syndication revenue. Mortgage banking net revenue increased $38 million, or 123%, primarily reflecting a $19 million reduction in MSR asset decay and an $18 million increase from MSR net valuation adjustments. Wealth and asset management revenue increased $1 million, or 1%, primarily driven by increased high-net-worth insurance revenue, partially offset by a decline in personal asset management revenue. Card and processing revenue was flat as lower rewards were offset by lower spend volumes. Leasing business revenue increased $4 million, or 7%, primarily reflecting higher lease remarketing revenue. The decrease in other noninterest income was primarily attributable to lower private equity income.

Compared to the year-ago quarter, service charges on deposits decreased $9 million, or 6%, reflecting higher treasury management earnings credits and the elimination of consumer non-sufficient funds fees. Commercial banking revenue

decreased $18 million, or 12%, primarily driven by decreases in corporate bond fees, M&A advisory revenue, and loan syndication revenue, partially offset by an increase in client financial risk management revenue. Mortgage banking net revenue decreased $17 million, or 20%, reflecting a $54 million decrease in origination fees and gains on loan sales and a $10 million reduction from MSR net valuation adjustments, partially offset by a $29 million decrease in MSR asset decay and an $18 million increase in mortgage servicing revenue. Wealth and asset management revenue decreased $6 million, or 4%, primarily reflecting lower personal asset management revenue impacted by market valuations. Card and processing revenue increased $3 million, or 3%, driven by higher spend volumes partially offset by higher rewards. Leasing business revenue decreased $18 million, or 23%, reflecting the disposition of LaSalle Solutions, partially offset by an increase in lease remarketing revenue. The decrease in other noninterest income was primarily attributable to lower private equity income.


Noninterest Expense
($ in millions)	For the Three Months Ended			% Change
	September	June	September
	2022	2022	2021	Seq	Yr/Yr
Noninterest Expense
Compensation and benefits	$605	$584	$627	4%	(4)%
Net occupancy expense	74	75	79	(1)%	(6)%
Technology and communications	106	98	98	8%	8%
Equipment expense	36	36	34	—	6%
Card and processing expense	21	20	19	5%	11%
Leasing business expense	33	31	33	6%	—
Marketing expense	35	28	29	25%	21%
Other noninterest expense	257	240	253	7%	2%
Total noninterest expense	$1,167	$1,112	$1,172	5%	—

Compared to the prior quarter, noninterest expense increased $55 million, or 5%. Noninterest expense in the current quarter included a $7 million benefit related to the impact of non-qualified deferred compensation mark-to-market (compared to a $27 million benefit in the prior quarter). Excluding the non-qualified deferred compensation impacts from both periods, total noninterest expense increased $35 million, or 3%, primarily driven by higher technology and marketing expense, the full quarter impact of the Dividend Finance acquisition, and the impact of the recent minimum wage increase.

Compared to the year-ago quarter, noninterest expense decreased $5 million primarily reflecting a decrease in compensation and benefits expense. This was partially offset by an increase in technology and communications expense related to continued modernization investments as well as higher marketing expense.


Average Interest-Earning Assets
($ in millions)	For the Three Months Ended			% Change
	September	June	September
	2022	2022	2021	Seq	Yr/Yr
Average Portfolio Loans and Leases
Commercial loans and leases:
Commercial and industrial loans	$56,646	$55,460	$47,766	2%	19%
Commercial mortgage loans	10,751	10,710	10,317	—	4%
Commercial construction loans	5,557	5,356	5,728	4%	(3)%
Commercial leases	2,792	2,839	3,158	(2)%	(12)%
Total commercial loans and leases	$75,746	$74,365	$66,969	2%	13%
Consumer loans:
Residential mortgage loans	$17,617	$17,363	$16,223	1%	9%
Home equity	3,956	3,895	4,409	2%	(10)%
Indirect secured consumer loans	16,750	17,241	15,590	(3)%	7%
Credit card	1,756	1,704	1,748	3%	—
Other consumer loans	3,819	3,125	3,031	22%	26%
Total consumer loans	$43,898	$43,328	$41,001	1%	7%
Total average portfolio loans and leases	$119,644	$117,693	$107,970	2%	11%

Memo:
Average PPP loans	$283	$549	$3,071	(48)%	(91)%
Average portfolio commercial and industrial loans - excl. PPP loans	$56,363	$54,911	$44,695	3%	26%

Average Loans and Leases Held for Sale
Commercial loans and leases held for sale	$3	$7	$31	(57)%	(90)%
Consumer loans held for sale	2,253	2,536	5,527	(11)%	(59)%
Total average loans and leases held for sale	$2,256	$2,543	$5,558	(11)%	(59)%

Total average loans and leases	$121,900	$120,236	$113,528	1%	7%

Securities (taxable and tax-exempt)	$57,713	$54,538	$37,208	6%	55%
Other short-term investments	5,765	9,632	32,065	(40)%	(82)%
Total average interest-earning assets	$185,378	$184,406	$182,801	1%	1%

Compared to the prior quarter, total average portfolio loans and leases increased 2%, reflecting an increase in both commercial and consumer portfolios. Average commercial portfolio loans and leases increased 2%, primarily reflecting an increase in commercial and industrial (C&I) and commercial construction loan balances. Average consumer portfolio loans increased 1%, reflecting an increase in other consumer loan balances (primarily Dividend Finance) and residential mortgage loan balances, partially offset by a decrease in indirect secured consumer loan balances.

Compared to the year-ago quarter, total average portfolio loans and leases increased 11%, reflecting an increase in both commercial and consumer portfolios. Average commercial portfolio loans and leases increased 13%, primarily reflecting an increase in C&I loan balances, partially offset by a decrease in commercial lease balances. Average consumer portfolio loans increased 7%, as increases in both residential mortgage and indirect secured consumer loan balances were partially offset by a decrease in home equity balances.

Average loans and leases held for sale were $2 billion in the current quarter compared to $3 billion in the prior quarter and $6 billion in the year-ago quarter. Current quarter average loans and leases held for sale were impacted by a decline in residential mortgage balances (primarily from a decline in government guaranteed mortgage buyouts).

Average securities (taxable and tax-exempt) of $58 billion in the current quarter increased $3 billion, or 6%, compared to the prior quarter and increased $21 billion, or 55%, compared to the year-ago quarter. Average other short-term

investments (including interest-bearing cash) of $6 billion in the current quarter decreased $4 billion, or 40%, compared to the prior quarter and decreased $26 billion, or 82%, compared to the year-ago quarter.

Total period-end commercial portfolio loans and leases of $76 billion increased 1% compared to the prior quarter, primarily reflecting an increase in C&I balances. Compared to the year-ago quarter, total period-end commercial portfolio loans increased 14%, primarily reflecting an increase in C&I balances, partially offset by a decrease in commercial lease balances. Period-end commercial revolving line utilization was 37%, compared to 37% in the prior quarter and 31% in the year-ago quarter.

Period-end consumer portfolio loans of $44 billion increased 1% compared to the prior quarter, primarily reflecting an increase in other consumer loan balances (primarily Dividend Finance) and home equity balances, partially offset by a decrease in indirect secured consumer loan balances. Compared to the year-ago quarter, total period-end consumer portfolio loans increased 7%, reflecting an increase in residential mortgage balances and other consumer loan balances, partially offset by a decrease in home equity balances.

Total period-end securities (taxable and tax-exempt; amortized cost) of $58 billion in the current quarter increased $1 billion, or 2%, compared to the prior quarter and increased $21 billion, or 57%, compared to the year-ago quarter. Period-end other short-term investments of $7 billion decreased $1 billion, or 11%, compared to the prior quarter and decreased $28 billion, or 81%, compared to the year-ago quarter.


Average Deposits
	($ in millions)	For the Three Months Ended			% Change
		September	June	September
		2022	2022	2021	Seq	Yr/Yr
	Average Deposits
	Demand	$59,535	$62,555	$62,626	(5)%	(5)%
	Interest checking	42,574	44,349	45,128	(4)%	(6)%
	Savings	23,814	23,708	20,941	—	14%
	Money market	29,066	29,284	30,514	(1)%	(5)%
	Foreign office(g)	206	139	195	48%	6%
	Total transaction deposits	$155,195	$160,035	$159,404	(3)%	(3)%
	CDs $250,000 or less	2,048	2,193	2,937	(7)%	(30)%
	Total core deposits	$157,243	$162,228	$162,341	(3)%	(3)%
	CDs over $250,000	2,226	662	306	236%	627%

	Total average deposits	$159,469	$162,890	$162,647	(2)%	(2)%

Compared to the prior quarter, average core deposits decreased 3%, primarily reflecting a decline in commercial deposit balances including the full quarter impact of second quarter's deliberate deposit runoff. Average demand deposits represented 38% of total core deposits in the current quarter, relatively stable with the prior quarter. Average commercial transaction deposits decreased 5% and average consumer transaction deposits decreased 1%. Period end core deposits were flat compared to the prior quarter.

Compared to the year-ago quarter, average core deposits decreased 3%, primarily reflecting the aforementioned commercial deposit runoff. Average commercial transaction deposits decreased 10% and average consumer transaction deposits increased 5%. Period end core deposits decreased 3% compared to the year-ago quarter.

The period end portfolio loan-to-core deposit ratio was 75% in the current quarter, compared to 75% in the prior quarter and 65% in the year-ago quarter.


Average Wholesale Funding
	($ in millions)	For the Three Months Ended			% Change
		September	June	September
		2022	2022	2021	Seq	Yr/Yr
	Average Wholesale Funding
	CDs over $250,000	$2,226	$662	$306	236%	627%

	Federal funds purchased	607	392	348	55%	74%
	Other short-term borrowings	7,436	3,571	1,122	108%	563%
	Long-term debt	11,796	11,164	12,057	6%	(2)%
	Total average wholesale funding	$22,065	$15,789	$13,833	40%	60%

Compared to the prior quarter, average wholesale funding increased 40%, as earning asset growth outpaced core deposit balances. The growth in wholesale funding was primarily attributed to increases in other short-term borrowings and jumbo CD balances. Compared to the year-ago quarter, average wholesale funding increased 60%, reflecting increases in other short-term borrowings, jumbo CD balances, and federal funds purchased, partially offset by decreases in long-term debt.


Credit Quality Summary
($ in millions)	As of and For the Three Months Ended
	September		June		March		December		September
	2022		2022		2022		2021		2021

Total nonaccrual portfolio loans and leases (NPLs)	$522		$539		$534		$498		$528
Repossessed property	6		6		5		5		4
OREO	18		14		27		24		27
Total nonperforming portfolio loans and leases and OREO (NPAs)	$546		$559		$566		$527		$559

NPL ratio(h)	0.44	%	0.45	%	0.46	%	0.44	%	0.49	%
NPA ratio(c)	0.46	%	0.47	%	0.49	%	0.47	%	0.52	%

Total loans and leases 30-89 days past due (accrual)	$335		$294		$288		$254		$267
Total loans and leases 90 days past due (accrual)	59		39		50		117		92

Allowance for loan and lease losses (ALLL), beginning	$2,014		$1,908		$1,892		$1,954		$2,033
Total net losses charged-off	(62)		(62)		(34)		(38)		(21)
Provision for (benefit from) loan and lease losses	147		168		50		(24)		(58)
ALLL, ending	$2,099		$2,014		$1,908		$1,892		$1,954

Reserve for unfunded commitments, beginning	$188		$177		$182		$205		$189
Provision for (benefit from) the reserve for unfunded commitments	11		11		(5)		(23)		16
Reserve for unfunded commitments, ending	$199		$188		$177		$182		$205

Total allowance for credit losses (ACL)	$2,298		$2,202		$2,085		$2,074		$2,159

ACL ratios:
As a % of portfolio loans and leases	1.91	%	1.85	%	1.80	%	1.85	%	2.00	%
As a % of nonperforming portfolio loans and leases	440	%	408	%	391	%	416	%	409	%
As a % of nonperforming portfolio assets	420	%	394	%	369	%	394	%	386	%

ALLL as a % of portfolio loans and leases	1.75	%	1.70	%	1.65	%	1.69	%	1.81	%

Total losses charged-off	$(104)		$(90)		$(64)		$(77)		$(56)
Total recoveries of losses previously charged-off	42		28		30		39		35
Total net losses charged-off	$(62)		$(62)		$(34)		$(38)		$(21)

Net charge-off ratio (NCO ratio)(b)	0.21	%	0.21	%	0.12	%	0.14	%	0.08	%
Commercial NCO ratio	0.17	%	0.19	%	0.05	%	0.10	%	0.03	%
Consumer NCO ratio	0.28	%	0.24	%	0.25	%	0.21	%	0.16	%

Nonperforming portfolio loans and leases were $522 million in the current quarter, with the resulting NPL ratio of 0.44%. Compared to the prior quarter, NPLs decreased $17 million with the NPL ratio decreasing 1 bp. Compared to the year-ago quarter, NPLs decreased $6 million with the NPL ratio decreasing 5 bps.

Nonperforming portfolio assets were $546 million in the current quarter, with the resulting NPA ratio of 0.46%. Compared to the prior quarter, NPAs decreased $13 million with the NPA ratio decreasing 1 bp. Compared to the year-ago quarter, NPAs decreased $13 million with the NPA ratio decreasing 6 bps.

The provision for credit losses totaled $158 million in the current quarter. The allowance for credit loss ratio represented 1.91% of total portfolio loans and leases at quarter end, compared with 1.85% for the prior quarter end and 2.00% for the year-ago quarter end. In the current quarter, the allowance for credit losses represented 440% of nonperforming portfolio loans and leases and 420% of nonperforming portfolio assets.

Net charge-offs were $62 million in the current quarter, with the resulting NCO ratio of 0.21%. Compared to the prior quarter, both net charge-offs and the NCO ratio remained flat. Compared to the year-ago quarter, net charge-offs increased $41 million and the NCO ratio increased 13 bps, reflecting a normalization from historically low net charge-offs in the year-ago quarter.


Capital Position
	As of and For the Three Months Ended
	September		June		March	December	September
	2022		2022		2022	2021	2021
Capital Position
Average total Bancorp shareholders' equity as a % of average assets	9.13	%	9.35	%	10.23%	10.71%	11.16	%
Tangible equity(a)	8.18	%	8.05	%	7.98%	7.97%	8.06	%
Tangible common equity (excluding AOCI)(a)	7.16	%	7.01	%	6.96%	6.94%	7.01	%
Tangible common equity (including AOCI)(a)	4.75	%	5.82	%	6.48%	7.47%	7.74	%

Regulatory Capital Ratios(d)(e)
CET1 capital	9.11	%	8.95	%	9.31%	9.54%	9.86	%
Tier 1 risk-based capital	10.38	%	10.23	%	10.63%	10.91%	11.28	%
Total risk-based capital	12.61	%	12.47	%	12.93%	13.42%	13.94	%
Leverage	8.44	%	8.30	%	8.32%	8.27%	8.41	%

The CET1 capital ratio was 9.11%, the tangible common equity to tangible assets ratio was 7.16% excluding AOCI, and 4.75% including AOCI. The Tier 1 risk-based capital ratio was 10.38%, the Total risk-based capital ratio was 12.61%, and the Leverage ratio was 8.44%.

Fifth Third increased its quarterly cash dividend on its common shares by $0.03, or 10%, to $0.33 per share for the third quarter of 2022.

Tax Rate

The effective tax rate for the quarter was 22.7% compared with 22.4% in the prior quarter and 21.3% in the year-ago quarter.

Conference Call

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

Corporate Profile

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

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

Earnings Release End Notes

(a)Non-GAAP measure; see discussion of non-GAAP reconciliation beginning on page 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) effects of the global COVID-19 pandemic; (2) deteriorating credit quality; (3) loan concentration by location or industry of borrowers or collateral; (4) problems encountered by other financial institutions; (5) inadequate sources of funding or liquidity; (6) unfavorable actions of rating agencies; (7) inability to maintain or grow deposits; (8) limitations on the ability to receive dividends from subsidiaries; (9) cyber-security risks; (10) Fifth Third’s ability to secure confidential information and deliver products and services through the use of computer systems and telecommunications networks; (11) failures by third-party service providers; (12) inability to manage strategic initiatives and/or organizational changes; (13) inability to implement technology system enhancements; (14) failure of internal controls and other risk management systems; (15) losses related to fraud, theft, misappropriation or violence; (16) inability to attract and retain skilled personnel; (17) adverse impacts of government regulation; (18) governmental or regulatory changes or other actions; (19) failures to meet applicable capital requirements; (20) regulatory objections to Fifth Third’s capital plan; (21) regulation of Fifth Third’s derivatives activities; (22) deposit insurance premiums; (23) assessments for the orderly liquidation fund; (24) replacement of LIBOR; (25) weakness in the national or local economies; (26) global political and economic uncertainty or negative actions; (27) changes in interest rates; (28) changes and trends in capital markets; (29) fluctuation of Fifth Third’s stock price; (30) volatility in mortgage banking revenue; (31) litigation, investigations, and enforcement proceedings by governmental authorities; (32) breaches of contractual covenants, representations and warranties; (33) competition and changes in the financial services industry; (34) changing retail distribution strategies, customer preferences and behavior; (35) difficulties in identifying, acquiring or integrating suitable strategic partnerships, investments or acquisitions; (36) potential dilution from future acquisitions; (37) loss of income and/or difficulties encountered in the sale and separation of businesses, investments or other assets; (38) results of investments or acquired entities; (39) changes in accounting standards or interpretation or declines in the value of Fifth Third’s goodwill or other intangible assets; (40) inaccuracies or other failures from the use of models; (41) effects of critical accounting policies and judgments or the use of inaccurate estimates; (42) weather-related events, other natural disasters, or health emergencies (including pandemics); (43) the impact of reputational risk created by these or other developments on such matters as business generation and retention, funding and liquidity; (44) changes in law or requirements imposed by Fifth Third’s regulators impacting our capital actions, including dividend payments and stock repurchases; and (45) Fifth Third's ability to meet its environmental and/or social targets, goals and commitments.

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

# # #

Quarterly Financial Review for September 30, 2022

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 Sheet and Yield 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								% / bps								% / bps
$ in millions, except per share data		For the Three Months Ended						Change				Year to Date				Change
(unaudited)		September		June		September						September		September
		2022		2022		2021		Seq		Yr/Yr		2022		2021		Yr/Yr
Income Statement Data
Net interest income		$1,498		$1,339		$1,189		12%		26%		$4,032		$3,574		13%
Net interest income (FTE)(a)		1,502		1,342		1,192		12%		26%		4,043		3,583		13%
Noninterest income		672		676		836		(1%)		(20%)		2,031		2,326		(13%)
	Total revenue (FTE)(a)	2,174		2,018		2,028		8%		7%		6,074		5,909		3%
Provision for (benefit from) credit losses		158		179		(42)		(12%)		NM		383		(330)		NM
Noninterest expense		1,167		1,112		1,172		5%		—		3,501		3,541		(1%)
Net income		653		562		704		16%		(7%)		1,709		2,107		(19%)
Net income available to common shareholders		631		526		684		20%		(8%)		1,631		2,032		(20%)

Earnings Per Share Data
Net income allocated to common shareholders		$631		$525		$683		20%		(8%)		$1,630		$2,027		(20%)
Average common shares outstanding (in thousands):
	Basic	689,278		689,019		697,457		—%		(1%)		688,618		706,846		(3%)
	Diluted	694,593		694,805		706,090		—%		(2%)		695,207		715,803		(3%)
Earnings per share, basic		$0.91		$0.76		$0.98		20%		(7%)		$2.37		$2.87		(17%)
Earnings per share, diluted		0.91		0.76		0.97		20%		(6%)		2.34		2.83		(17%)

Common Share Data
Cash dividends per common share		$0.33		$0.30		$0.30		10%		10%		$0.93		$0.84		11%
Book value per share		21.30		24.56		29.59		(13%)		(28%)		21.30		29.59		(28%)
Market value per share		31.96		33.60		42.44		(5%)		(25%)		31.96		42.44		(25%)
Common shares outstanding (in thousands)		686,343		686,152		689,790		—		—		686,343		689,790		—
Market capitalization		$21,936		$23,055		$29,275		(5%)		(25%)		$21,936		$29,275		(25%)

Financial Ratios
Return on average assets		1.25	%	1.09	%	1.36	%	16		(11)		1.10	%	1.37	%	(27)
Return on average common equity		14.9	%	12.3	%	13.0	%	260		190		12.3	%	13.1	%	(80)
Return on average tangible common equity(a)		21.9	%	17.5	%	16.9	%	440		500		17.3	%	16.8	%	50
Noninterest income as a percent of total revenue(a)		31	%	33	%	41	%	(200)		(1,000)		33	%	39	%	(600)
Dividend payout		36.3	%	39.5	%	30.6	%	(320)		NM		39.2	%	29.3	%	NM
Average total Bancorp shareholders’ equity as a percent of average assets		9.13	%	9.35	%	11.16	%	(22)		(203)		9.57	%	11.18	%	(161)
Tangible common equity(a)		7.16	%	7.01	%	7.01	%	15		15		7.16	%	7.01	%	15
Net interest margin (FTE)(a)		3.22	%	2.92	%	2.59	%	30		63		2.91	%	2.61	%	30
Efficiency (FTE)(a)		53.7	%	55.1	%	57.8	%	(140)		(410)		57.6	%	59.9	%	(230)
Effective tax rate		22.7	%	22.4	%	21.3	%	30		140		21.6	%	21.6	%	—

Credit Quality
Net losses charged-off		$62		$62		$21		—	%	195	%	$159		$136		17	%
Net losses charged-off as a percent of average portfolio loans and leases (annualized)		0.21	%	0.21	%	0.08	%	—		13		0.18	%	0.17	%	1
ALLL as a percent of portfolio loans and leases		1.75	%	1.70	%	1.81	%	5		(6)		1.75	%	1.81	%	(6)
ACL as a percent of portfolio loans and leases(g)		1.91	%	1.85	%	2.00	%	6		(9)		1.91	%	2.00	%	(9)
Nonperforming portfolio assets as a percent of portfolio loans and leases and OREO		0.46	%	0.47	%	0.52	%	(1)		(6)		0.46	%	0.52	%	(6)

Average Balances
Loans and leases, including held for sale		$121,900		$120,236		$113,528		1%		7%		$119,784		$113,890		5%
Securities and other short-term investments		63,478		64,170		69,273		(1%)		(8%)		66,099		69,589		(5%)
Assets		206,688		205,897		205,449		—		1%		207,236		205,219		1%
Transaction deposits(b)		155,195		160,035		159,404		(3%)		(3%)		160,381		157,361		2%
Core deposits(c)		157,243		162,228		162,341		(3%)		(3%)		162,586		160,781		1%
Wholesale funding(d)		22,065		15,789		13,833		40%		60%		16,842		15,686		7%
Bancorp shareholders’ equity		18,864		19,248		22,927		(2%)		(18%)		19,829		22,935		(14%)

Regulatory Capital Ratios(e)(f)
CET1 capital		9.11	%	8.95	%	9.86	%	16		(75)		9.11	%	9.86	%	(75)
Tier 1 risk-based capital		10.38	%	10.23	%	11.28	%	15		(90)		10.38	%	11.28	%	(90)
Total risk-based capital		12.61	%	12.47	%	13.94	%	14		(133)		12.61	%	13.94	%	(133)
Leverage		8.44	%	8.30	%	8.41	%	14		3		8.44	%	8.41	%	3

Additional Metrics
Banking centers		1,080		1,080		1,100		—		(2%)		1,080		1,100		(2%)
ATMs		2,146		2,153		2,336		—		(8%)		2,146		2,336		(8%)
Full-time equivalent employees		19,187		19,119		19,171		—		—%		19,187		19,171		—%
Assets under care ($ in billions)(h)		$494		$512		$541		(4%)		(9%)		$494		$541		(9%)
Assets under management ($ in billions)(h)		52		54		61		(4%)		(15%)		52		61		(15%)

(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		For the Three Months Ended
(unaudited)		September		June		March		December		September
		2022		2022		2022		2021		2021
Income Statement Data
Net interest income		$1,498		$1,339		$1,195		$1,197		$1,189
Net interest income (FTE)(a)		1,502		1,342		1,198		1,200		1,192
Noninterest income		672		676		684		791		836
	Total revenue (FTE)(a)	2,174		2,018		1,882		1,991		2,028
Provision for (benefit from) credit losses		158		179		45		(47)		(42)
Noninterest expense		1,167		1,112		1,222		1,206		1,172
Net income		653		562		494		662		704
Net income available to common shareholders		631		526		474		627		684

Earnings Per Share Data
Net income allocated to common shareholders		$631		$525		$473		$625		$683
Average common shares outstanding (in thousands):
	Basic	689,278		689,019		687,538		688,370		697,457
	Diluted	694,593		694,805		696,242		697,532		706,090
Earnings per share, basic		$0.91		$0.76		$0.69		$0.91		$0.98
Earnings per share, diluted		0.91		0.76		0.68		0.90		0.97

Common Share Data
Cash dividends per common share		$0.33		$0.30		$0.30		$0.30		$0.30
Book value per share		21.30		24.56		26.33		29.43		29.59
Market value per share		31.96		33.60		43.04		43.55		42.44
Common shares outstanding (in thousands)		686,343		686,152		685,905		682,778		689,790
Market capitalization		$21,936		$23,055		$29,521		$29,735		$29,275

Financial Ratios
Return on average assets		1.25	%	1.09	%	0.96	%	1.25	%	1.36	%
Return on average common equity		14.9	%	12.3	%	10.0	%	12.2	%	13.0	%
Return on average tangible common equity(a)		21.9	%	17.5	%	13.4	%	16.1	%	16.9	%
Noninterest income as a percent of total revenue(a)		31	%	33	%	36	%	40	%	41	%
Dividend payout		36.3	%	39.5	%	43.5	%	33.0	%	30.6	%
Average total Bancorp shareholders’ equity as a percent of average assets		9.13	%	9.35	%	10.23	%	10.71	%	11.16	%
Tangible common equity(a)		7.16	%	7.01	%	6.96	%	6.94	%	7.01	%
Net interest margin (FTE)(a)		3.22	%	2.92	%	2.59	%	2.55	%	2.59	%
Efficiency (FTE)(a)		53.7	%	55.1	%	64.9	%	60.6	%	57.8	%
Effective tax rate		22.7	%	22.4	%	19.2	%	20.1	%	21.3	%

Credit Quality
Net losses charged-off		$62		$62		$34		$38		$21
Net losses charged-off as a percent of average portfolio loans and leases (annualized)		0.21	%	0.21	%	0.12	%	0.14	%	0.08	%
ALLL as a percent of portfolio loans and leases		1.75	%	1.70	%	1.65	%	1.69	%	1.81	%
ACL as a percent of portfolio loans and leases(g)		1.91	%	1.85	%	1.80	%	1.85	%	2.00	%
Nonperforming portfolio assets as a percent of portfolio loans and leases and OREO		0.46	%	0.47	%	0.49	%	0.47	%	0.52	%

Average Balances
Loans and leases, including held for sale		$121,900		$120,236		$117,162		$114,790		$113,528
Securities and other short-term investments		63,478		64,170		70,732		72,255		69,273
Assets		206,688		205,897		209,150		209,604		205,449
Transaction deposits(b)		155,195		160,035		166,032		164,673		159,404
Core deposits(c)		157,243		162,228		168,408		167,277		162,341
Wholesale funding(d)		22,065		15,789		12,568		13,276		13,833
Bancorp shareholders’ equity		18,864		19,248		21,402		22,449		22,927

Regulatory Capital Ratios(e)(f)
CET1 capital		9.11	%	8.95	%	9.31	%	9.54	%	9.86	%
Tier 1 risk-based capital		10.38	%	10.23	%	10.63	%	10.91	%	11.28	%
Total risk-based capital		12.61	%	12.47	%	12.93	%	13.42	%	13.94	%
Leverage		8.44	%	8.30	%	8.32	%	8.27	%	8.41	%

Additional Metrics
Banking centers		1,080		1,080		1,079		1,117		1,100
ATMs		2,146		2,153		2,201		2,322		2,336
Full-time equivalent employees		19,187		19,119		19,247		19,112		19,171
Assets under care ($ in billions)(h)		$494		$512		$549		$554		$541
Assets under management ($ in billions)(h)		52		54		61		65		61

(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)	September	June	September			September	September
	2022	2022	2021	Seq	Yr/Yr	2022	2021	Yr/Yr
Interest Income
Interest and fees on loans and leases	$1,315	$1,081	$1,014	22%	30%	$3,377	$3,078	10%
Interest on securities	414	369	266	12%	56%	1,077	809	33%
Interest on other short-term investments	31	14	12	121%	158%	58	29	100%
Total interest income	1,760	1,464	1,292	20%	36%	4,512	3,916	15%

Interest Expense
Interest on deposits	112	25	12	348%	833%	147	48	206%
Interest on federal funds purchased	3	1	—	200%	NM	4	—	NM
Interest on other short-term borrowings	43	12	—	258%	NM	56	1	NM
Interest on long-term debt	104	87	91	20%	14%	273	293	(7%)
Total interest expense	262	125	103	110%	154%	480	342	40%

Net Interest Income	1,498	1,339	1,189	12%	26%	4,032	3,574	13%

Provision for (benefit from) credit losses	158	179	(42)	(12%)	NM	383	(330)	NM
Net Interest Income After Provision for (Benefit from) Credit Losses	1,340	1,160	1,231	16%	9%	3,649	3,904	(7%)

Noninterest Income
Service charges on deposits	143	154	152	(7%)	(6%)	449	445	1%
Commercial banking revenue	134	137	152	(2%)	(12%)	406	465	(13%)
Mortgage banking net revenue	69	31	86	123%	(20%)	152	235	(35%)
Wealth and asset management revenue	141	140	147	1%	(4%)	430	436	(1%)
Card and processing revenue	105	105	102	—	3%	306	298	3%
Leasing business revenue	60	56	78	7%	(23%)	179	226	(21%)
Other noninterest income	59	85	120	(31%)	(51%)	195	211	(8%)
Securities (losses) gains, net	(38)	(32)	(1)	19%	NM	(84)	12	NM
Securities losses, net - non-qualifying hedges on mortgage servicing rights	(1)	—	—	NM	NM	(2)	(2)	—
Total noninterest income	672	676	836	(1%)	(20%)	2,031	2,326	(13%)

Noninterest Expense
Compensation and benefits	605	584	627	4%	(4%)	1,900	1,971	(4%)
Net occupancy expense	74	75	79	(1%)	(6%)	225	235	(4%)
Technology and communications	106	98	98	8%	8%	306	285	7%
Equipment expense	36	36	34	—	6%	108	102	6%
Card and processing expense	21	20	19	5%	11%	59	70	(16%)
Leasing business expense	33	31	33	6%	—	95	102	(7%)
Marketing expense	35	28	29	25%	21%	87	72	21%
Other noninterest expense	257	240	253	7%	2%	721	704	2%
Total noninterest expense	1,167	1,112	1,172	5%	—	3,501	3,541	(1%)
Income Before Income Taxes	845	724	895	17%	(6%)	2,179	2,689	(19%)
Applicable income tax expense	192	162	191	19%	1%	470	582	(19%)
Net Income	653	562	704	16%	(7%)	1,709	2,107	(19%)
Dividends on preferred stock	22	36	20	(39%)	10%	78	75	4%
Net Income Available to Common Shareholders	$631	$526	$684	20%	(8%)	$1,631	$2,032	(20%)


Fifth Third Bancorp and Subsidiaries
Consolidated Statements of Income
$ in millions	For the Three Months Ended
(unaudited)	September	June	March	December	September
	2022	2022	2022	2021	2021
Interest Income
Interest and fees on loans and leases	$1,315	$1,081	$983	$1,000	$1,014
Interest on securities	414	369	294	281	266
Interest on other short-term investments	31	14	12	13	12
Total interest income	1,760	1,464	1,289	1,294	1,292

Interest Expense
Interest on deposits	112	25	11	11	12
Interest on federal funds purchased	3	1	—	—	—
Interest on other short-term borrowings	43	12	—	—	—
Interest on long-term debt	104	87	83	86	91
Total interest expense	262	125	94	97	103

Net Interest Income	1,498	1,339	1,195	1,197	1,189

Provision for (benefit from) credit losses	158	179	45	(47)	(42)
Net Interest Income After Provision for (Benefit from) Credit Losses	1,340	1,160	1,150	1,244	1,231

Noninterest Income
Service charges on deposits	143	154	152	156	152
Commercial banking revenue	134	137	135	171	152
Mortgage banking net revenue	69	31	52	35	86
Wealth and asset management revenue	141	140	149	150	147
Card and processing revenue	105	105	97	104	102
Leasing business revenue	60	56	62	74	78
Other noninterest income	59	85	52	120	120
Securities losses, net	(38)	(32)	(14)	(19)	(1)
Securities losses, net - non-qualifying hedges on mortgage servicing rights	(1)	—	(1)	—	—
Total noninterest income	672	676	684	791	836

Noninterest Expense
Compensation and benefits	605	584	711	655	627
Net occupancy expense	74	75	77	77	79
Technology and communications	106	98	101	103	98
Equipment expense	36	36	36	36	34
Card and processing expense	21	20	19	19	19
Leasing business expense	33	31	32	36	33
Marketing expense	35	28	24	35	29
Other noninterest expense	257	240	222	245	253
Total noninterest expense	1,167	1,112	1,222	1,206	1,172
Income Before Income Taxes	845	724	612	829	895
Applicable income tax expense	192	162	118	167	191
Net Income	653	562	494	662	704
Dividends on preferred stock	22	36	20	35	20
Net Income Available to Common Shareholders	$631	$526	$474	$627	$684


Fifth Third Bancorp and Subsidiaries
Consolidated Balance Sheets
$ in millions, except per share data	As of			% Change
(unaudited)	September	June	September
	2022	2022	2021	Seq	Yr/Yr
Assets
Cash and due from banks	$3,068	$3,437	$3,213	(11%)	(5%)
Other short-term investments	6,594	7,419	34,203	(11%)	(81%)
Available-for-sale debt and other securities(a)	51,289	52,837	37,870	(3%)	35%
Held-to-maturity securities(b)	5	5	8	—	(38%)
Trading debt securities	414	293	685	41%	(40%)
Equity securities	315	326	329	(3%)	(4%)
Loans and leases held for sale	1,940	2,542	5,203	(24%)	(63%)
Portfolio loans and leases:
Commercial and industrial loans	56,437	56,095	47,834	1%	18%
Commercial mortgage loans	10,947	10,748	10,300	2%	6%
Commercial construction loans	5,573	5,357	5,456	4%	2%
Commercial leases	2,821	2,850	3,130	(1%)	(10%)
Total commercial loans and leases	75,778	75,050	66,720	1%	14%
Residential mortgage loans	17,600	17,566	16,158	—	9%
Home equity	4,000	3,906	4,276	2%	(6%)
Indirect secured consumer loans	16,646	17,017	16,004	(2%)	4%
Credit card	1,770	1,763	1,744	—	1%
Other consumer loans	4,205	3,521	3,009	19%	40%
Total consumer loans	44,221	43,773	41,191	1%	7%
Portfolio loans and leases	119,999	118,823	107,911	1%	11%
Allowance for loan and lease losses	(2,099)	(2,014)	(1,954)	4%	7%
Portfolio loans and leases, net	117,900	116,809	105,957	1%	11%
Bank premises and equipment	2,155	2,118	2,101	2%	3%
Operating lease equipment	612	600	647	2%	(5%)
Goodwill	4,925	4,926	4,514	—	9%
Intangible assets	181	194	169	(7%)	7%
Servicing rights	1,732	1,582	943	9%	84%
Other assets	14,333	13,694	11,889	5%	21%
Total Assets	$205,463	$206,782	$207,731	(1%)	(1%)

Liabilities
Deposits:
Demand	$57,601	$60,859	$63,879	(5%)	(10%)
Interest checking	46,985	43,338	45,964	8%	2%
Savings	23,771	23,748	21,423	—	11%
Money market	28,707	28,792	30,652	—	(6%)
Foreign office	185	177	202	5%	(8%)
CDs $250,000 or less	2,007	2,125	2,691	(6%)	(25%)
CDs over $250,000	2,396	2,135	297	12%	707%
Total deposits	161,652	161,174	165,108	—	(2%)
Federal funds purchased	212	711	309	(70%)	(31%)
Other short-term borrowings	6,378	7,057	949	(10%)	572%
Accrued taxes, interest and expenses	1,589	1,683	2,083	(6%)	(24%)
Other liabilities	7,184	6,197	5,339	16%	35%
Long-term debt	11,712	10,990	11,419	7%	3%
Total Liabilities	188,727	187,812	185,207	—	2%
Equity
Common stock(c)	2,051	2,051	2,051	—	—
Preferred stock	2,116	2,116	2,116	—	—
Capital surplus	3,660	3,636	3,611	1%	1%
Retained earnings	21,219	20,818	19,817	2%	7%
Accumulated other comprehensive (loss) income	(5,306)	(2,644)	1,637	101%	NM
Treasury stock	(7,004)	(7,007)	(6,708)	—	4%
Total Equity	16,736	18,970	22,524	(12%)	(26%)
Total Liabilities and Equity	$205,463	$206,782	$207,731	(1%)	(1%)
(a) Amortized cost	$57,372	$56,140	$36,308	2%	58%
(b) Market values	5	5	8	—	(38%)
(c) Common shares, stated value $2.22 per share (in thousands):
Authorized	2,000,000	2,000,000	2,000,000	—	—
Outstanding, excluding treasury	686,343	686,152	689,790	—	—
Treasury	237,549	237,741	234,102	—	1	%


Fifth Third Bancorp and Subsidiaries
Consolidated Balance Sheets
$ in millions, except per share data	As of
(unaudited)	September	June	March	December	September
	2022	2022	2022	2021	2021
Assets
Cash and due from banks	$3,068	$3,437	$3,049	$2,994	$3,213
Other short-term investments	6,594	7,419	20,529	34,572	34,203
Available-for-sale debt and other securities(a)	51,289	52,837	48,832	38,110	37,870
Held-to-maturity securities(b)	5	5	6	8	8
Trading debt securities	414	293	324	512	685
Equity securities	315	326	358	376	329
Loans and leases held for sale	1,940	2,542	2,616	4,415	5,203
Portfolio loans and leases:
Commercial and industrial loans	56,437	56,095	53,909	51,659	47,834
Commercial mortgage loans	10,947	10,748	10,694	10,316	10,300
Commercial construction loans	5,573	5,357	5,420	5,241	5,456
Commercial leases	2,821	2,850	2,915	3,052	3,130
Total commercial loans and leases	75,778	75,050	72,938	70,268	66,720
Residential mortgage loans	17,600	17,566	17,144	16,397	16,158
Home equity	4,000	3,906	3,916	4,084	4,276
Indirect secured consumer loans	16,646	17,017	17,424	16,783	16,004
Credit card	1,770	1,763	1,690	1,766	1,744
Other consumer loans	4,205	3,521	2,753	2,752	3,009
Total consumer loans	44,221	43,773	42,927	41,782	41,191
Portfolio loans and leases	119,999	118,823	115,865	112,050	107,911
Allowance for loan and lease losses	(2,099)	(2,014)	(1,908)	(1,892)	(1,954)
Portfolio loans and leases, net	117,900	116,809	113,957	110,158	105,957
Bank premises and equipment	2,155	2,118	2,102	2,120	2,101
Operating lease equipment	612	600	622	616	647
Goodwill	4,925	4,926	4,514	4,514	4,514
Intangible assets	181	194	145	156	169
Servicing rights	1,732	1,582	1,444	1,121	943
Other assets	14,333	13,694	12,961	11,444	11,889
Total Assets	$205,463	$206,782	$211,459	$211,116	$207,731

Liabilities
Deposits:
Demand	$57,601	$60,859	$65,590	$65,088	$63,879
Interest checking	46,985	43,338	48,836	48,870	45,964
Savings	23,771	23,748	23,622	22,227	21,423
Money market	28,707	28,792	29,947	30,263	30,652
Foreign office	185	177	115	121	202
CDs $250,000 or less	2,007	2,125	2,267	2,486	2,691
CDs over $250,000	2,396	2,135	234	269	297
Total deposits	161,652	161,174	170,611	169,324	165,108
Federal funds purchased	212	711	250	281	309
Other short-term borrowings	6,378	7,057	872	980	949
Accrued taxes, interest and expenses	1,589	1,683	1,471	2,233	2,083
Other liabilities	7,184	6,197	7,263	4,267	5,339
Long-term debt	11,712	10,990	10,815	11,821	11,419
Total Liabilities	188,727	187,812	191,282	188,906	185,207
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	3,660	3,636	3,615	3,624	3,611
Retained earnings	21,219	20,818	20,501	20,236	19,817
Accumulated other comprehensive (loss) income	(5,306)	(2,644)	(1,096)	1,207	1,637
Treasury stock	(7,004)	(7,007)	(7,010)	(7,024)	(6,708)
Total Equity	16,736	18,970	20,177	22,210	22,524
Total Liabilities and Equity	$205,463	$206,782	$211,459	$211,116	$207,731
(a) Amortized cost	$57,372	$56,140	$50,171	$36,941	$36,308
(b) Market values	5	5	6	8	8
(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	686,343	686,152	685,905	682,778	689,790
Treasury	237,549	237,741	237,987	241,115	234,102


Fifth Third Bancorp and Subsidiaries
Consolidated Statements of Changes in Equity
$ in millions
(unaudited)
			For the Three Months Ended		Year to Date
			September	September	September	September
			2022	2021	2022	2021
Total Equity, Beginning			$18,970	$22,926	$22,210	$23,111
Net income			653	704	1,709	2,107
Other comprehensive loss, net of tax:
Change in unrealized (losses) gains:
		Available-for-sale debt securities	(2,129)	(282)	(5,566)	(741)
		Qualifying cash flow hedges	(533)	(56)	(949)	(226)
Change in accumulated other comprehensive income related to employee benefit plans			—	1	2	3

Comprehensive (loss) income			(2,009)	367	(4,804)	1,143
Cash dividends declared:
	Common stock		(230)	(210)	(648)	(597)
	Preferred stock		(22)	(20)	(78)	(75)
Impact of stock transactions under stock compensation plans, net			27	11	56	20
Shares acquired for treasury			—	(550)	—	(1,077)
Other			—	—	—	(1)


Total Equity, Ending			$16,736	$22,524	$16,736	$22,524


Fifth Third Bancorp and Subsidiaries
Average Balance Sheet and Yield/Rate Analysis	For the Three Months Ended
$ in millions	September			June			September
(unaudited)	2022			2022			2021
	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)	$56,648	4.53	%	$55,466	3.59	%	$47,774	3.54	%
Commercial mortgage loans(a)	10,751	4.10	%	10,710	3.34	%	10,339	3.00	%
Commercial construction loans(a)	5,557	4.71	%	5,356	3.69	%	5,729	3.12	%
Commercial leases(a)	2,793	3.08	%	2,840	2.93	%	3,158	2.84	%
Total commercial loans and leases	75,749	4.42	%	74,372	3.54	%	67,000	3.39	%
Residential mortgage loans	19,870	3.32	%	19,899	3.12	%	21,750	3.21	%
Home equity	3,956	4.84	%	3,895	3.81	%	4,409	3.59	%
Indirect secured consumer loans	16,750	3.34	%	17,241	3.17	%	15,590	3.27	%
Credit card	1,756	12.89	%	1,704	12.29	%	1,748	12.38	%
Other consumer loans	3,819	6.21	%	3,125	5.99	%	3,031	5.91	%
Total consumer loans	46,151	4.06	%	45,864	3.73	%	46,528	3.79	%
Total loans and leases	121,900	4.29	%	120,236	3.61	%	113,528	3.55	%
Securities:
Taxable securities	56,535	2.86	%	53,475	2.73	%	36,177	2.86	%
Tax exempt securities(a)	1,178	2.77	%	1,063	2.47	%	1,031	2.22	%
Other short-term investments	5,765	2.15	%	9,632	0.60	%	32,065	0.15	%
Total interest-earning assets	185,378	3.78	%	184,406	3.19	%	182,801	2.81	%
Cash and due from banks	3,162			3,118			3,114
Other assets	20,163			20,282			21,566
Allowance for loan and lease losses	(2,015)			(1,909)			(2,032)
Total Assets	$206,688			$205,897			$205,449

Liabilities
Interest-bearing liabilities:
Interest checking deposits	$42,574	0.72	%	$44,349	0.15	%	$45,128	0.05	%
Savings deposits	23,814	0.12	%	23,708	0.03	%	20,941	0.02	%
Money market deposits	29,066	0.22	%	29,284	0.06	%	30,514	0.03	%
Foreign office deposits	206	0.78	%	139	0.13	%	195	0.03	%
CDs $250,000 or less	2,048	0.09	%	2,193	0.09	%	2,937	0.19	%
Total interest-bearing core deposits	97,708	0.41	%	99,673	0.09	%	99,715	0.04	%
CDs over $250,000	2,226	1.90	%	662	1.08	%	306	1.10	%

Federal funds purchased	607	2.10	%	392	0.82	%	348	0.13	%
Securities sold under repurchase agreements	472	0.22	%	488	0.08	%	570	0.01	%
FHLB advances	6,608	2.30	%	2,743	1.41	%	—	—
Derivative collateral and other secured borrowings	356	4.92	%	340	3.12	%	552	0.24	%
Long-term debt	11,796	3.49	%	11,164	3.09	%	12,057	2.98	%
Total interest-bearing liabilities	119,773	0.87	%	115,462	0.43	%	113,548	0.36	%
Demand deposits	59,535			62,555			62,626
Other liabilities	8,516			8,632			6,348
Total Liabilities	187,824			186,649			182,522
Total Equity	18,864			19,248			22,927
Total Liabilities and Equity	$206,688			$205,897			$205,449
Ratios:
Net interest margin (FTE)(b)		3.22	%		2.92	%		2.59	%
Net interest rate spread (FTE)(b)		2.91	%		2.76	%		2.45	%
Interest-bearing liabilities to interest-earning assets		64.61	%		62.61	%		62.12	%
(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 Sheet and Yield/Rate Analysis	Year to Date
$ in millions	September			September
(unaudited)	2022			2021
	Average	Average		Average	Average
	Balance	Yield/Rate		Balance	Yield/Rate
Assets
Interest-earning assets:
Loans and leases:
Commercial and industrial loans(a)	$54,907	3.82	%	$48,761	3.59	%
Commercial mortgage loans(a)	10,664	3.49	%	10,446	3.06	%
Commercial construction loans(a)	5,429	3.91	%	5,936	3.14	%
Commercial leases(a)	2,858	2.95	%	3,154	2.98	%
Total commercial loans and leases	73,858	3.75	%	68,297	3.44	%
Residential mortgage loans	19,981	3.20	%	21,316	3.28	%
Home equity	3,953	4.06	%	4,695	3.59	%
Indirect secured consumer loans	17,041	3.20	%	14,755	3.41	%
Credit card	1,717	12.50	%	1,798	12.29	%
Other consumer loans	3,234	6.10	%	3,029	5.99	%
Total consumer loans	45,926	3.83	%	45,593	3.89	%
Total loans and leases	119,784	3.78	%	113,890	3.62	%
Securities:
Taxable securities	50,529	2.81	%	36,014	2.96	%
Tax exempt securities(a)	1,084	2.56	%	797	2.32	%
Other short-term investments	14,486	0.53	%	32,778	0.12	%
Total interest-earning assets	185,883	3.25	%	183,479	2.86	%
Cash and due from banks	3,081			3,046
Other assets	20,211			20,922
Allowance for loan and lease losses	(1,939)			(2,228)
Total Assets	$207,236			$205,219

Liabilities
Interest-bearing liabilities:
Interest checking deposits	$45,172	0.30	%	$45,333	0.06	%
Savings deposits	23,435	0.06	%	20,136	0.02	%
Money market deposits	29,533	0.10	%	30,653	0.04	%
Foreign office deposits	157	0.39	%	155	0.04	%
CDs $250,000 or less	2,205	0.10	%	3,420	0.34	%
Total interest-bearing core deposits	100,502	0.18	%	99,697	0.06	%
CDs over $250,000	1,055	1.64	%	620	1.36	%

Federal funds purchased	421	1.31	%	339	0.12	%
Securities sold under repurchase agreements	484	0.10	%	599	0.02	%
FHLB advances	3,141	2.04	%	—	—
Derivative collateral and other secured borrowings	365	2.70	%	543	0.31	%
Long-term debt	11,376	3.21	%	13,585	2.88	%
Total interest-bearing liabilities	117,344	0.55	%	115,383	0.40	%
Demand deposits	62,084			61,084
Other liabilities	7,979			5,817
Total Liabilities	187,407			182,284
Total Equity	19,829			22,935
Total Liabilities and Equity	$207,236			$205,219
Ratios:
Net interest margin (FTE)(b)		2.91	%		2.61	%
Net interest rate spread (FTE)(b)		2.70	%		2.46	%
Interest-bearing liabilities to interest-earning assets		63.13	%		62.89	%
(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)	September	June	March	December	September
	2022	2022	2022	2021	2021
Average Portfolio Loans and Leases
Commercial loans and leases:
Commercial and industrial loans	$56,646	$55,460	$52,554	$49,566	$47,766
Commercial mortgage loans	10,751	10,710	10,521	10,247	10,317
Commercial construction loans	5,557	5,356	5,371	5,329	5,728
Commercial leases	2,792	2,839	2,942	3,057	3,158
Total commercial loans and leases	75,746	74,365	71,388	68,199	66,969
Consumer loans:
Residential mortgage loans	17,617	17,363	16,501	16,188	16,223
Home equity	3,956	3,895	4,009	4,179	4,409
Indirect secured consumer loans	16,750	17,241	17,136	16,345	15,590
Credit card	1,756	1,704	1,691	1,739	1,748
Other consumer loans	3,819	3,125	2,742	2,837	3,031
Total consumer loans	43,898	43,328	42,079	41,288	41,001
Total average portfolio loans and leases	$119,644	$117,693	$113,467	$109,487	$107,970

Average Loans and Leases Held for Sale
Commercial loans and leases held for sale	$3	$7	$18	$5	$31
Consumer loans held for sale	2,253	2,536	3,677	5,298	5,527
Average loans and leases held for sale	$2,256	$2,543	$3,695	$5,303	$5,558

Average PPP loans(a)	$283	$549	$1,012	$1,756	$3,071
Average portfolio commercial and industrial loans - excluding PPP loans	56,363	54,911	51,542	47,810	44,695
Total average portfolio commercial and industrial loans	$56,646	$55,460	$52,554	$49,566	$47,766

End of Period Portfolio Loans and Leases
Commercial loans and leases:
Commercial and industrial loans	$56,437	$56,095	$53,909	$51,659	$47,834
Commercial mortgage loans	10,947	10,748	10,694	10,316	10,300
Commercial construction loans	5,573	5,357	5,420	5,241	5,456
Commercial leases	2,821	2,850	2,915	3,052	3,130
Total commercial loans and leases	75,778	75,050	72,938	70,268	66,720
Consumer loans:
Residential mortgage loans	17,600	17,566	17,144	16,397	16,158
Home equity	4,000	3,906	3,916	4,084	4,276
Indirect secured consumer loans	16,646	17,017	17,424	16,783	16,004
Credit card	1,770	1,763	1,690	1,766	1,744
Other consumer loans	4,205	3,521	2,753	2,752	3,009
Total consumer loans	44,221	43,773	42,927	41,782	41,191
Total portfolio loans and leases	$119,999	$118,823	$115,865	$112,050	$107,911

End of Period Loans and Leases Held for Sale
Commercial loans and leases held for sale	$69	$4	$23	$21	$2
Consumer loans held for sale	1,871	2,538	2,593	4,394	5,201
Loans and leases held for sale	$1,940	$2,542	$2,616	$4,415	$5,203

Operating lease equipment	$612	$600	$622	$616	$647

Loans and Leases Serviced for Others(b)
Commercial and industrial loans	$1,067	$994	$993	$923	$879
Commercial mortgage loans	630	601	592	610	620
Commercial construction loans	421	418	502	474	487
Commercial leases	567	566	571	589	555
Residential mortgage loans	102,696	100,519	97,736	89,234	77,929
Other consumer loans	—	—	—	—	50
Total loans and leases serviced for others	105,381	103,098	100,394	91,830	80,520
Total loans and leases owned or serviced	$227,932	$225,063	$219,497	$208,911	$194,281

End of period PPP loans(a)	$210	$371	$737	$1,305	$2,344
End of period portfolio commercial and industrial loans - excluding PPP loans	56,227	55,724	53,172	50,354	45,490
Total end of period portfolio commercial and industrial loans	$56,437	$56,095	$53,909	$51,659	$47,834

(a)Paycheck Protection Program loans are included in commercial and industrial loans in the Condensed Consolidated Balance Sheets.

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


Fifth Third Bancorp and Subsidiaries
Regulatory Capital
$ in millions		As of
(unaudited)		September		June		March		December		September
		2022(a)		2022		2022		2021		2021
Regulatory Capital(b)
CET1 capital		$15,266		$14,827		$14,937		$14,781		$14,673
Additional tier 1 capital		2,116		2,116		2,116		2,116		2,116
Tier 1 capital		17,382		16,943		17,053		16,897		16,789
Tier 2 capital		3,742		3,713		3,676		3,892		3,953
Total regulatory capital		$21,124		$20,656		$20,729		$20,789		$20,742
Risk-weighted assets		$167,501		$165,659		$160,352		$154,860		$148,827

Ratios
Average total Bancorp shareholders’ equity as a percent of average assets		9.13	%	9.35	%	10.23	%	10.71	%	11.16	%

Regulatory Capital Ratios(b)
Fifth Third Bancorp
	CET1 capital	9.11	%	8.95	%	9.31	%	9.54	%	9.86	%
	Tier 1 risk-based capital	10.38	%	10.23	%	10.63	%	10.91	%	11.28	%
	Total risk-based capital	12.61	%	12.47	%	12.93	%	13.42	%	13.94	%
	Leverage	8.44	%	8.30	%	8.32	%	8.27	%	8.41	%

Fifth Third Bank, National Association
	Tier 1 risk-based capital	10.92	%	10.58	%	10.85	%	10.90	%	11.25	%
	Total risk-based capital	12.38	%	12.01	%	12.24	%	12.33	%	12.79	%
	Leverage	8.91	%	8.61	%	8.51	%	8.29	%	8.43	%

(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)	September		June		March		December		September
	2022		2022		2022		2021		2021
Average portfolio loans and leases:
Commercial and industrial loans	$56,646		$55,460		$52,554		$49,566		$47,766
Commercial mortgage loans	10,751		10,710		10,521		10,247		10,317
Commercial construction loans	5,557		5,356		5,371		5,329		5,728
Commercial leases	2,792		2,839		2,942		3,057		3,158
Total commercial loans and leases	75,746		74,365		71,388		68,199		66,969
Residential mortgage loans	17,617		17,363		16,501		16,188		16,223
Home equity	3,956		3,895		4,009		4,179		4,409
Indirect secured consumer loans	16,750		17,241		17,136		16,345		15,590
Credit card	1,756		1,704		1,691		1,739		1,748
Other consumer loans	3,819		3,125		2,742		2,837		3,031
Total consumer loans	43,898		43,328		42,079		41,288		41,001
Total average portfolio loans and leases	$119,644		$117,693		$113,467		$109,487		$107,970

Losses charged-off:
Commercial and industrial loans	($46)		($34)		($11)		($25)		($10)
Commercial mortgage loans	—		—		—		(1)		—
Commercial construction loans	—		(3)		—		—		—
Commercial leases	(1)		—		—		(2)		—
Total commercial loans and leases	(47)		(37)		(11)		(28)		(10)
Residential mortgage loans	(1)		—		(1)		—		(1)
Home equity	(2)		(3)		(2)		(2)		(2)
Indirect secured consumer loans	(18)		(14)		(16)		(13)		(9)
Credit card	(15)		(18)		(17)		(17)		(17)
Other consumer loans	(21)		(18)		(17)		(17)		(17)
Total consumer loans	(57)		(53)		(53)		(49)		(46)
Total losses charged-off	($104)		($90)		($64)		($77)		($56)

Recoveries of losses previously charged-off:
Commercial and industrial loans	$12		$1		$2		$11		$5
Commercial mortgage loans	—		—		1		—		1
Commercial construction loans	1		—		—		—		—
Commercial leases	2		—		—		—		—
Total commercial loans and leases	15		1		3		11		6
Residential mortgage loans	2		1		2		3		2
Home equity	3		3		3		4		3
Indirect secured consumer loans	8		9		9		7		10
Credit card	3		4		4		4		5
Other consumer loans	11		10		9		10		9
Total consumer loans	27		27		27		28		29
Total recoveries of losses previously charged-off	$42		$28		$30		$39		$35

Net losses charged-off:
Commercial and industrial loans	($34)		($33)		($9)		($14)		($5)
Commercial mortgage loans	—		—		1		(1)		1
Commercial construction loans	1		(3)		—		—		—
Commercial leases	1		—		—		(2)		—
Total commercial loans and leases	(32)		(36)		(8)		(17)		(4)
Residential mortgage loans	1		1		1		3		1
Home equity	1		—		1		2		1
Indirect secured consumer loans	(10)		(5)		(7)		(6)		1
Credit card	(12)		(14)		(13)		(13)		(12)
Other consumer loans	(10)		(8)		(8)		(7)		(8)
Total consumer loans	(30)		(26)		(26)		(21)		(17)
Total net losses charged-off	($62)		($62)		($34)		($38)		($21)

Net losses charged-off as a percent of average portfolio loans and leases (annualized):
Commercial and industrial loans	0.24	%	0.24	%	0.07	%	0.11	%	0.04	%
Commercial mortgage loans	(0.01	%)	—		(0.03	%)	0.03	%	(0.03	%)
Commercial construction loans	(0.08	%)	0.23	%	—		(0.01	%)	—
Commercial leases	(0.12	%)	(0.03	%)	(0.02	%)	0.24	%	—
Total commercial loans and leases	0.17	%	0.19	%	0.05	%	0.10	%	0.03	%
Residential mortgage loans	(0.02	%)	(0.02	%)	(0.02	%)	(0.06	%)	(0.02	%)
Home equity	(0.08	%)	(0.06	%)	(0.07	%)	(0.18	%)	(0.13	%)
Indirect secured consumer loans	0.24	%	0.13	%	0.17	%	0.14	%	(0.02	%)
Credit card	2.69	%	3.26	%	3.13	%	2.90	%	2.70	%
Other consumer loans	1.10	%	1.04	%	1.07	%	1.12	%	1.05	%
Total consumer loans	0.28	%	0.24	%	0.25	%	0.21	%	0.16	%
Total net losses charged-off as a percent of average portfolio loans and leases (annualized)	0.21	%	0.21	%	0.12	%	0.14	%	0.08	%


Fifth Third Bancorp and Subsidiaries
Asset Quality
$ in millions	For the Three Months Ended
(unaudited)	September		June		March		December		September
	2022		2022		2022		2021		2021
Allowance for Credit Losses
Allowance for loan and lease losses, beginning	$2,014		$1,908		$1,892		$1,954		$2,033
Total net losses charged-off	(62)		(62)		(34)		(38)		(21)
Provision for (benefit from) loan and lease losses	147		168		50		(24)		(58)
Allowance for loan and lease losses, ending	$2,099		$2,014		$1,908		$1,892		$1,954

Reserve for unfunded commitments, beginning	$188		$177		$182		$205		$189
Provision for (benefit from) the reserve for unfunded commitments	11		11		(5)		(23)		16
Reserve for unfunded commitments, ending	$199		$188		$177		$182		$205

Components of allowance for credit losses:
Allowance for loan and lease losses	$2,099		$2,014		$1,908		$1,892		$1,954
Reserve for unfunded commitments	199		188		177		182		205
Total allowance for credit losses	$2,298		$2,202		$2,085		$2,074		$2,159

	As of
	September		June		March		December		September
	2022		2022		2022		2021		2021
Nonperforming Assets and Delinquent Loans
Nonaccrual portfolio loans and leases:
Commercial and industrial loans	$111		$89		$105		$116		$172
Commercial mortgage loans	10		12		32		42		43
Commercial construction loans	—		—		6		6		—
Commercial leases	2		2		3		4		6
Residential mortgage loans	49		49		42		10		13
Home equity	43		45		49		47		48
Indirect secured consumer loans	4		5		5		5		5
Other consumer loans	3		2		1		1		1
Total nonaccrual portfolio loans and leases (excludes restructured loans)	222		204		243		231		288
Nonaccrual restructured portfolio commercial loans	175		216		177		169		128
Nonaccrual restructured portfolio consumer loans(c)	125		119		114		98		112
Total nonaccrual portfolio loans and leases	522		539		534		498		528
Repossessed property	6		6		5		5		4
OREO	18		14		27		24		27
Total nonperforming portfolio loans and leases and OREO	546		559		566		527		559
Nonaccrual loans held for sale	—		—		—		15		—
Nonaccrual restructured loans held for sale	—		—		4		—		1
Total nonperforming assets	$546		$559		$570		$542		$560

Loans and leases 90 days past due (accrual):
Commercial and industrial loans	$16		$6		$9		$17		$4
Commercial mortgage loans	—		—		2		1		2
Commercial construction loans	—		—		—		1		—
Commercial leases	10		1		—		—		1
Total commercial loans and leases	26		7		11		19		7
Residential mortgage loans(c)	7		8		14		72		61
Home equity	1		2		1		1		1
Indirect secured consumer loans	10		8		9		9		8
Credit card	14		13		14		15		14
Other consumer loans	1		1		1		1		1
Total consumer loans	33		32		39		98		85
Total loans and leases 90 days past due (accrual)(b)	$59		$39		$50		$117		$92
Ratios
Net losses charged-off as a percent of average portfolio loans and leases (annualized)	0.21	%	0.21	%	0.12	%	0.14	%	0.08	%
Allowance for credit losses:
As a percent of portfolio loans and leases	1.91	%	1.85	%	1.80	%	1.85	%	2.00	%
As a percent of nonperforming portfolio loans and leases(a)	440	%	408	%	391	%	416	%	409	%
As a percent of nonperforming portfolio assets(a)	420	%	394	%	369	%	394	%	386	%
Nonperforming portfolio loans and leases as a percent of portfolio loans and leases(a)	0.44	%	0.45	%	0.46	%	0.44	%	0.49	%
Nonperforming portfolio assets as a percent of portfolio loans and leases and OREO(a)	0.46	%	0.47	%	0.49	%	0.47	%	0.52	%
Nonperforming assets as a percent of total loans and leases, OREO, and repossessed property	0.45	%	0.46	%	0.48	%	0.47	%	0.49	%
(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)		September		June		March		December		September
		2022		2022		2022		2021		2021
Net interest income		$1,498		$1,339		$1,195		$1,197		$1,189
Add: Taxable equivalent adjustment		4		3		3		3		3
Net interest income (FTE) (a)		1,502		1,342		1,198		1,200		1,192

Net interest income (annualized) (b)		5,943		5,371		4,846		4,749		4,717
Net interest income (FTE) (annualized) (c)		5,959		5,383		4,859		4,761		4,729

Interest income		1,760		1,464		1,289		1,294		1,292
Add: Taxable equivalent adjustment		4		3		3		3		3
Interest income (FTE)		1,764		1,467		1,292		1,297		1,295
Interest income (FTE) (annualized) (d)		6,998		5,884		5,240		5,146		5,138

Interest expense (annualized) (e)		1,039		501		381		385		409
Average interest-earning assets (f)		185,378		184,406		187,894		187,045		182,801
Average interest-bearing liabilities (g)		119,773		115,462		116,764		115,725		113,548

Net interest margin (b) / (f)		3.21	%	2.91	%	2.58	%	2.54	%	2.58	%
Net interest margin (FTE) (c) / (f)		3.22	%	2.92	%	2.59	%	2.55	%	2.59	%
Net interest rate spread (FTE) (d) / (f) - (e) / (g)		2.91	%	2.76	%	2.46	%	2.42	%	2.45	%

Income before income taxes		$845		$724		$612		$829		$895
Add: Taxable equivalent adjustment		4		3		3		3		3
Income before income taxes (FTE)		849		727		615		832		898

Net income available to common shareholders		631		526		474		627		684
Add: Intangible amortization, net of tax		10		9		9		9		9
Tangible net income available to common shareholders (h)		641		535		483		636		693
Tangible net income available to common shareholders (annualized) (i)		2,543		2,146		1,959		2,523		2,749

Average Bancorp shareholders’ equity		18,864		19,248		21,402		22,449		22,927
Less:	Average preferred stock	(2,116)		(2,116)		(2,116)		(2,116)		(2,116)
	Average goodwill	(4,926)		(4,744)		(4,514)		(4,514)		(4,430)
	Average intangible assets	(188)		(158)		(150)		(162)		(149)
Average tangible common equity, including AOCI (j)		11,634		12,230		14,622		15,657		16,232
Less:	Average AOCI	3,037		2,397		(129)		(1,382)		(1,980)
Average tangible common equity, excluding AOCI (k)		14,671		14,627		14,493		14,275		14,252

Total Bancorp shareholders’ equity		16,736		18,970		20,177		22,210		22,524
Less:	Preferred stock	(2,116)		(2,116)		(2,116)		(2,116)		(2,116)
	Goodwill	(4,925)		(4,926)		(4,514)		(4,514)		(4,514)
	Intangible assets	(181)		(194)		(145)		(156)		(169)
Tangible common equity, including AOCI (l)		9,514		11,734		13,402		15,424		15,725
Less:	AOCI	5,306		2,644		1,096		(1,207)		(1,637)
Tangible common equity, excluding AOCI (m)		14,820		14,378		14,498		14,217		14,088
Add:	Preferred stock	2,116		2,116		2,116		2,116		2,116
Tangible equity (n)		16,936		16,494		16,614		16,333		16,204

Total assets		205,463		206,782		211,459		211,116		207,731
Less:	Goodwill	(4,925)		(4,926)		(4,514)		(4,514)		(4,514)
	Intangible assets	(181)		(194)		(145)		(156)		(169)
Tangible assets, including AOCI (o)		200,357		201,662		206,800		206,446		203,048
Less:	AOCI, before tax	6,716		3,347		1,387		(1,528)		(2,072)
Tangible assets, excluding AOCI (p)		$207,073		$205,009		$208,187		$204,918		$200,976

Common shares outstanding (q)		686		686		686		683		690

Tangible equity (n) / (p)		8.18	%	8.05	%	7.98	%	7.97	%	8.06	%
Tangible common equity (excluding AOCI) (m) / (p)		7.16	%	7.01	%	6.96	%	6.94	%	7.01	%
Tangible common equity (including AOCI) (l) / (o)		4.75	%	5.82	%	6.48	%	7.47	%	7.74	%
Tangible book value per share (including AOCI) (l) / (q)		$13.87		$17.10		$19.54		$22.58		$22.79
Tangible book value per share (excluding AOCI) (m) / (q)		$21.60		$20.96		$21.13		$20.82		$20.42


Fifth Third Bancorp and Subsidiaries
Non-GAAP Reconciliation
$ in millions		For the Three Months Ended
(unaudited)		September		June		September
		2022		2022		2021
Net income (r)		$653		$562		$704
Net income (annualized) (s)		2,591		2,254		2,793

Adjustments (pre-tax items)
	Valuation of Visa total return swap	17		18		17
	Fifth Third Foundation contribution	—		—		15
	Net disposition charges/(gain)	—		6		(60)
Adjustments, after-tax (t)(a)		13		19		(21)





Noninterest income (u)		672		676		836
	Valuation of Visa total return swap	17		18		17
	Net disposition charges/(gain)	—		6		(60)
Adjusted noninterest income (v)		689		700		793

Noninterest expense (w)		1,167		1,112		1,172
	Fifth Third Foundation contribution	—		—		(15)
Adjusted noninterest expense (x)		1,167		1,112		1,157



Adjusted net income (r) + (t)		666		581		683
Adjusted net income (annualized) (y)		2,642		2,330		2,710

Adjusted tangible net income available to common shareholders (h) + (t)		654		554		672
Adjusted tangible net income available to common shareholders (annualized) (z)		2,595		2,222		2,666

Average assets (aa)		$206,688		$205,897		$205,449

Return on average tangible common equity (i) / (j)		21.9	%	17.5	%	16.9	%
Return on average tangible common equity excluding AOCI (i) / (k)		17.3	%	14.7	%	19.3	%
Adjusted return on average tangible common equity, including AOCI (z) / (j)		22.3	%	18.2	%	16.4	%
Adjusted return on average tangible common equity, excluding AOCI (z) / (k)		17.7	%	15.2	%	18.7	%

Return on average assets (s) / (aa)		1.25	%	1.09	%	1.36	%
Adjusted return on average assets (y) / (aa)		1.28	%	1.13	%	1.32	%
Efficiency ratio (FTE) (w) / [(a) + (u)]		53.7	%	55.1	%	57.8	%
Adjusted efficiency ratio (x) / [(a) + (v)]		53.3	%	54.5	%	58.3	%
Total revenue (FTE) (a) + (u)		$2,174		$2,018		$2,028
Adjusted total revenue (FTE) (a) + (v)		$2,191		$2,042		$1,985
Pre-provision net revenue (PPNR) (a) + (u) - (w)		$1,007		$906		$856
Adjusted pre-provision net revenue (PPNR) (a) + (v) - (x)		$1,024		$930		$828
Totals may not foot due to rounding; (a) Assumes a 23% tax rate


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

For the three months ended September 30, 2022	Commercial Banking	Consumer and Small Business Banking	Wealth and Asset Management	Other/ Eliminations	Total

Net interest income (FTE)(a)	$596	$833	$79	$(6)	$1,502
(Provision for) benefit from credit losses	2	(34)	—	(126)	(158)
Net interest income after (provision for) benefit from credit losses	598	799	79	(132)	1,344
Noninterest income	298	286	134	(46)	672
Noninterest expense	(440)	(608)	(142)	23	(1,167)
Income (loss) before income taxes	456	477	71	(155)	849
Applicable income tax (expense) benefit(a)	(87)	(100)	(15)	6	(196)
Net income (loss)	$369	$377	$56	$(149)	$653

For the three months ended June 30, 2022	Commercial Banking	Consumer and Small Business Banking	Wealth and Asset Management	Other/ Eliminations	Total

Net interest income (FTE)(a)	$555	$631	$53	$103	$1,342
Provision for credit losses	(80)	(29)	—	(70)	(179)
Net interest income after provision for credit losses	475	602	53	33	1,163
Noninterest income	356	241	132	(53)	676
Noninterest expense	(442)	(580)	(137)	47	(1,112)
Income before income taxes	389	263	48	27	727
Applicable income tax expense(a)	(72)	(55)	(10)	(28)	(165)
Net income (loss)	$317	$208	$38	$(1)	$562

For the three months ended March 31, 2022	Commercial Banking	Consumer and Small Business Banking	Wealth and Asset Management	Other/ Eliminations	Total

Net interest income (FTE)(a)	$525	$517	$35	$121	$1,198
(Provision for) benefit from credit losses	34	(29)	—	(50)	(45)
Net interest income after (provision for) benefit from credit losses	559	488	35	71	1,153
Noninterest income	339	256	144	(55)	684
Noninterest expense	(479)	(601)	(142)	—	(1,222)
Income before income taxes	419	143	37	16	615
Applicable income tax expense(a)	(78)	(31)	(8)	(4)	(121)
Net income	$341	$112	$29	$12	$494

For the three months ended December 31, 2021	Commercial Banking	Consumer and Small Business Banking	Wealth and Asset Management	Other/ Eliminations	Total

Net interest income (FTE)(a)	$415	$438	$24	$323	$1,200
Benefit from (provision for) credit losses	117	(24)	—	(46)	47
Net interest income after benefit from (provision for) credit losses	532	414	24	277	1,247
Noninterest income	384	258	145	4	791
Noninterest expense	(459)	(600)	(139)	(8)	(1,206)
Income before income taxes	457	72	30	273	832
Applicable income tax expense(a)	(89)	(14)	(7)	(60)	(170)
Net income	$368	$58	$23	$213	$662

For the three months ended September 30, 2021	Commercial Banking	Consumer and Small Business Banking	Wealth and Asset Management	Other/ Eliminations	Total

Net interest income (FTE)(a)	$396	$429	$22	$345	$1,192
Benefit from (provision for) credit losses	250	(19)	—	(189)	42
Net interest income after benefit from (provision for) credit losses	646	410	22	156	1,234
Noninterest income	374	301	143	18	836
Noninterest expense	(434)	(593)	(134)	(11)	(1,172)
Income before income taxes	586	118	31	163	898
Applicable income tax expense(a)	(116)	(25)	(7)	(46)	(194)
Net income	$470	$93	$24	$117	$704
(a) Includes taxable equivalent adjustments of $4 million for the three months ended September 30, 2022 and $3 million for the three months ended, June 30, 2022, March 31, 2022, December 31, 2021 and September 30, 2021.
(b) Effective September 30, 2022, the Bancorp reorganized its reportable segments. Prior period results have been adjusted to conform to the new segment presentation. The Commercial Banking segment provides services to large and middle-market businesses and government and professional customers. The Consumer and Small Business Banking segment provides services to individuals and small businesses through a network of full-service banking centers and relationships with indirect and correspondent loan originators. The Wealth and Asset Management segment provides a full range of wealth management services for individuals, companies and not-for-profit organizations.

© Fifth Third Bancorp | All Rights Reserved © Fifth Third Bancorp | All Rights Reserved Fifth Third Bancorp 3Q22 Earnings Presentation October 20 th , 2022 Refer to earnings release dated October 20 th , 2022 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) effects of the global COVID-19 pandemic; (2) deteriorating credit quality; (3) loan concentration by location or industry of borrowers or collateral; (4) problems encountered by other financial institutions; (5) inadequate sources of funding or liquidity; (6) unfavorable actions of rating agencies; (7) inability to maintain or grow deposits; (8) limitations on the ability to receive dividends from subsidiaries; (9) cyber-security risks; (10) Fifth Third’s ability to secure confidential information and deliver products and services through the use of computer systems and telecommunications networks; (11) failures by third-party service providers; (12) inability to manage strategic initiatives and/or organizational changes; (13) inability to implement technology system enhancements; (14) failure of internal controls and other risk management systems; (15) losses related to fraud, theft, misappropriation or violence; (16) inability to attract and retain skilled personnel; (17) adverse impacts of government regulation; (18) governmental or regulatory changes or other actions; (19) failures to meet applicable capital requirements; (20) regulatory objections to Fifth Third’s capital plan; (21) regulation of Fifth Third’s derivatives activities; (22) deposit insurance premiums; (23) assessments for the orderly liquidation fund; (24) replacement of LIBOR; (25) weakness in the national or local economies; (26) global political and economic uncertainty or negative actions; (27) changes in interest rates; (28) changes and trends in capital markets; (29) fluctuation of Fifth Third’s stock price; (30) volatility in mortgage banking revenue; (31) litigation, investigations, and enforcement proceedings by governmental authorities; (32) breaches of contractual covenants, representations and warranties; (33) competition and changes in the financial services industry; (34) changing retail distribution strategies, customer preferences and behavior; (35) difficulties in identifying, acquiring or integrating suitable strategic partnerships, investments or acquisitions; (36) potential dilution from future acquisitions; (37) loss of income and/or difficulties encountered in the sale and separation of businesses, investments or other assets; (38) results of investments or acquired entities; (39) changes in accounting standards or interpretation or declines in the value of Fifth Third’s goodwill or other intangible assets; (40) inaccuracies or other failures from the use of models; (41) effects of critical accounting policies and judgments or the use of inaccurate estimates; (42) weather-related events, other natural disasters, or health emergencies (including pandemics); (43) the impact of reputational risk created by these or other developments on such matters as business generation and retention, funding and liquidity; (44) changes in law or requirements imposed by Fifth Third’s regulators impacting our capital actions, including dividend payments and stock repurchases; and (45) Fifth Third's ability to meet its environmental and/or social targets, goals and commitments. You should refer to our periodic and current reports filed with the Securities and Exchange Commission, or “SEC,” for further information on other factors, which could cause actual results to be significantly different from those expressed or implied by these forward-looking statements. Moreover, you should treat these statements as speaking only as of the date they are made and based only on information then actually known to us. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any changes in events, conditions or circumstances on which any such statement is based, except as may be required by law, and we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. The information contained herein is intended to be reviewed in its totality, and any stipulations, conditions or provisos that apply to a given piece of information in one part of this press release should be read as applying mutatis mutandis to every other instance of such information appearing herein. 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 3Q22 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 • Generated strong revenue, and record adjusted revenue • Compared to 3Q21, PPNR increased 18% (adjusted PPNR increased 24%) • Net interest income increased 12% compared to 2Q22; NIM up 30 basis points compared to 2Q22 • Efficiency ratio of 53.7%, a 4 point improvement from 3Q21 • ACL ratio of 1.91%, an increase of 6 bps from 2Q22, or 2 bps excluding Dividend Finance • NPA ratio of 0.46% improved 1 bp compared to 2Q22 Reported 1 Adjusted 1 ROA Efficiency ratio ROTCE 1.28% 17.7% NIM 3.22%3.22% 1.25% 21.9% 53.3%53.7% ROE 15.3%14.9% excl. AOCI PPNR $1.02BN$1.01BN EPS $0.93$0.91 CET1 2 9.11% For end note descriptions, see end note summary starting on page 38 3Q22 highlights 3

© Fifth Third Bancorp | All Rights Reserved $1,192 $1,342 $1,502 3Q21 2Q22 3Q22 2.59% 2.92% 3.22% NII $ in millions; NIM change in bps 2Q22 to 3Q22 Reported 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 NIM For end note descriptions, see end note summary starting on page 38 NII $1,3422Q22 2.92% NIM $1,502 3.22%3Q22 Securities portfolio Loan balances / mix 11 1 32 6 145 31Market rate benefit Increase in wholesale funding activity (4) (1) Higher day count 10 (1) Decline in average deposit balances / mix (25) (5) Net interest income 1 Other, net (1)(9) 4

© Fifth Third Bancorp | All Rights Reserved Generally offset in expenses Adjusted noninterest income (excl. securities losses, net) 1 • Adjusted noninterest income 1 down $5 million, or 1% • Primary drivers: ‒ Other noninterest income (down 30%) reflecting lower private equity income ‒ Service charges on deposits (down 7%) reflecting elimination of consumer NSF fees and higher treasury management earnings credits ‒ Partially offset by mortgage banking net revenue (up 123%) reflecting lower asset decay and smaller valuation losses on servicing rights Noninterest income • Adjusted noninterest income 1 down $67 million, or 8% • Primary drivers: ‒ Mortgage banking net revenue (down 20%) reflecting a decrease in origination fees and gains on loan sales, as well as lower valuation adjustments on servicing rights ‒ Commercial banking revenue (down 12%) reflecting decreases in corporate bond, M&A and syndication fees, offset by improvement in financial risk management 3Q22 vs. 3Q21 3Q22 vs. 2Q22 $836 $676 $672 $794 $732 $727 3Q21 2Q22 3Q22 For end note descriptions, see end note summary starting on page 38 Noninterest income 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, net ($ in millions) 3Q21 2Q22 3Q22 Net loss attributable to legacy venture equity investments - $ 3 $ 28 Net losses attributable to non-qualified deferred compensation plans (NQDC) 1 26 7 Other losses, net - 3 3 Securities losses, net $ 1 $ 32 $ 38 5

© Fifth Third Bancorp | All Rights Reserved $1,172 $1,112 $1,167$1,157 $1,112 $1,167 3Q21 2Q22 3Q22 Adjusted noninterest expense 1 • Adjusted noninterest expense 1 up $55 million, or 5% • Primary drivers: ‒ Compensation and benefits (up 4%) reflecting the impact of the recent minimum wage increase as well as the full quarter impact of Dividend Finance ‒ Other noninterest expense (up 7%) ‒ Marketing expense (up 25%) and technology and communications (up 8%) reflecting continued modernization investments 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 • Adjusted noninterest expense 1 up $10 million, or 1% • Primary drivers: ‒ Other noninterest expense (up 8%) ‒ Technology and communications (up 8%) reflecting continued modernization investments ‒ Marketing expense (up 21%) ‒ Partially offset by: ‒ Compensation and benefits (down 4%) Noninterest expense 3Q22 vs. 3Q21 3Q22 vs. 2Q22 For end note descriptions, see end note summary starting on page 38 Noninterest expense 6

© Fifth Third Bancorp | All Rights Reserved $66.7 $75.1 $75.8 $41.2 $43.8 $44.2 $107.9 $118.8 $120.0 3Q21 2Q22 3Q22 $37.2 $54.5 $57.7 $32.1 $9.6 $5.8 $69.3 $64.2 $63.5 2.86% 2.73% 2.86% $0. 0 $10 .0 $20 .0 $30 .0 $40 .0 $50 .0 $60 .0 $70 .0 $80 .0 3Q21 2Q22 3Q22 Interest earning assets +7% +13% $0.0 $0.0 $0.1 $5.2 $2.5 $1.9 $5.2 $2.5 $1.9 3Q21 2Q22 3Q22 Commercial Securities 1 Average securities 1 and short-term investmentsAverage loan & lease balances Commercial Consumer Total loan yield $ in billions; loan & lease balances excluding HFS Short-term investments Taxable securities yield Consumer Period-end loan & lease balances Period-end HFS loan & lease balances Commercial Consumer $ in billions Note: For end note descriptions, see end note summary starting on page 38; totals shown above may not foot due to rounding +3% QoQ YoY % change NM NM QoQ YoY % change QoQ YoY % change QoQ YoY % change +3% $ in billions; loan & lease balances excluding HFS $ in billions +2% 1% 1 +14% +7%+1% (64%)(26%) (82%)(40%) +55%+6%$67.0 $74.4 $75.7 $41.0 $43.3 $43.9 $108.0 $117.7 $119.6 3.55% 3.61% 4.29% 3Q21 2Q22 3Q22 7

© Fifth Third Bancorp | All Rights Reserved $13.8 $15.8 $22.1 2.64% 2.56% 2.89% $0. 0 $5. 0 $10 .0 $15 .0 $20 .0 $25 .0 3Q21 2Q22 3Q22 $80.5 $76.3 $72.7 $81.8 $85.9 $84.5 $162.3 $162.2 $157.2 0.04% 0.09% 0.41% -0.02% 0.0 8% 0.1 8% 0.2 8% 0.3 8% 0.4 8% 0.5 8% 3Q21 2Q22 3Q22 Core deposits and wholesale funding Average wholesale funding balancesAverage core deposit balances Commercial Consumer Total IB core deposit rate $ in billions Total wholesale funding Wholesale funding cost Commercial Consumer Period-end core deposit balances Period-end wholesale funding balances $ in billions Note: totals shown above may not foot due to rounding QoQ YoY % change QoQ YoY % change QoQ YoY % change QoQ YoY % change $ in billions $ in billions $83.0 $73.8 $74.4 $81.9 $85.3 $84.9 $164.8 $159.0 $159.3 $0. 0 $20 .0 $40 .0 $60 .0 $80 .0 $10 0.0 $12 0.0 $14 0.0 $16 0.0 $18 0.0 3Q21 2Q22 3Q22 $13.0 $20.9 $20.7 3Q21 2Q22 3Q22 (5%) (10%) (2%) +3% +1% (10%) (1%) 60% 40% 60% +4% 8 flat Total wholesale funding

© Fifth Third Bancorp | All Rights Reserved 0.18% 0.20% 0.32% 0.40% 0.33% 0.40% 0.17% 0.10% 0.03% 0.10% 0.05% 0.19% 0.17% 0.68% 0.78% 0.66% 0.52% 0.40% 0.47% 0.43% 0.26% 0.16% 0.25% 0.24% 0.28% 0.36% 0.41% 0.44% 0.44% 0.35% 0.43% 0.27% 0.16% 0.08% 0.14%0.12% 0.21% 0.21% -0.10% 0.1 0% 0.3 0% 0.5 0% 0.7 0% 0.9 0% 1.1 0% 1.3 0% 3Q19 3Q20 3Q21 3Q22 Commercial NCO ratio Consumer NCO ratio Total NCO Ratio 0.47% 0.62% 0.60% 0.65% 0.84% 0.79% 0.72% 0.61% 0.52% 0.47% 0.49%0.47% 0.46% 0.37% 0.33% 0.35% 0.33% 0.29% 0.33% 0.28% 0.26% 0.25% 0.23% 0.25% 0.25% 0.28% 0.0 0% 0.2 0% 0.4 0% 0.6 0% 0.8 0% 1.0 0% 1.2 0% 3Q19 3Q20 3Q21 3Q22 NPA ratio 30-89 days past due as a % of Portfolio loans Early stage delinquencies and NPAs Net charge-offs (NCOs) ACL as % of portfolio loans and leases • Drivers of $96MM increase in ACL: • $85MM increase from loan balances and unfunded commitment growth • Remainder of growth reflecting macroeconomic forecast conditions • $63MM net increase related to Dividend Finance 2Q22 1 2Q22 1 For end note descriptions, see end note summary starting on page 38 Credit quality overview 2.00% 1.85% 1.80% 1.85% 1.91% -0.30% 0.2 0% 0.7 0% 1.2 0% 1.7 0% 2.2 0% 3Q21 4Q21 1Q22 2Q22 3Q22 9

© Fifth Third Bancorp | All Rights Reserved 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 97 1,158 254 124 221 941 199 $2,298 239 806 1.74% 0.57% 1.53% 1.44% 3.10% 1.08% 12.49% 3.85% 2.13% 1.75% 1.91% 1.43% 2.18% Allocation of allowance by product $ in millions 3Q22 Amount % of portfolio loans & leases For end note descriptions, see end note summary starting on page 38; totals shown above may not foot due to rounding Change in Rate 0.84% (0.31%) 0.28% (0.17%) (0.27%) 0.15% 1.16% (0.03%) (0.33%) 0.06% 0.06% 0.61% 0.21% (0.13%) 0.04% (0.02%) 0.03% 0.16% 0.25% 0.35% 0.13% 0.05% 0.02% (0.25%) Compared to: 2Q22 CECL Day 1 0.09% 0.19% Allowance for credit losses 2,099 16 180 162 10 6 bps increase in ACL compared to prior quarter (2 bps increase excluding Dividend Finance)

© Fifth Third Bancorp | All Rights Reserved 8.95% ~38 bps • Loan-to-core deposit ratio of 75% • ~$99 billion of available liquidity sources • $5.4 billion in Holding Company cash, sufficient to satisfy all fixed obligations in a stressed environment for ~23 months Regulatory capital position Fed Reserves Unpledged Investment Securities Available FHLB Borrowing Capacity Current Fed Discount Window Availability Total ~$5 ~$44 ~$7 ~$42 ~$99 Liquidity Sources Liquidity position $ in billions; as of 9/30/2022 Common equity tier 1 ratio 1 For end note descriptions, see end note summary starting on page 38; totals shown above may not foot due to rounding • Targeting 9.25% area CET1 2 at year-end Strong capital and liquidity position (~10 bps) (~14 bps) ~2 bps 9.11% 2Q22 Net income to common RWA Common dividends Other 3Q22 11

© Fifth Third Bancorp | All Rights Reserved 12 1 Innovative, software-enabled products that simplify customers’ lives and enhance the client experience Sustained organic growth from positioning the bank to benefit from secular trends and through gaining market share Proactive balance sheet management (credit risk, rate risk, capital) positioning the bank to serve clients and perform well in any environment Commitment to living our purpose every day to improve the lives of our customers and the well-being of our communities Strong profitability and returns driven by expense discipline and relationship profitability focus What you should expect from Fifth Third 2 3 4 5

© Fifth Third Bancorp | All Rights Reserved Net interest income 1 Noninterest income 1 up 6 – 7% Noninterest expense 1 up 3 – 4% up ~5% (3Q22 baseline: $1.502BN) (3Q22 baseline: $727MM) (3Q22 baseline: $1.167BN) Net charge-off ratio 20 – 25 bps Effective tax rate ~23% For end note descriptions, see end note summary starting on page 38 As of October 20, 2022; please see cautionary statements on page 2 Total revenue 1 up ~7% (3Q22 baseline: $2.191BN; Includes securities g/l) PPNR 1 up 11 – 12% (3Q22 baseline: $1.024BN; includes securities g/l) (including HFS) Avg. loans & leases stable to up 1% Current expectations 4Q22 compared to 3Q22 13 up ~6% excluding securities losses associated with legacy venture investments guidance assumes 12/31/22 Fed funds rate of 4.50%

© Fifth Third Bancorp | All Rights Reserved 15 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 16 Addressing climate change Promoting inclusion and diversity Demonstrating our commitment to employees Strengthening our communities Keeping the customer at the center $180MM Neighborhood Investment Program in nine majority-Black communities $1.3BN provided in community development lending and investment $41MM in charitable donations to support communities ~3MM people educated through our LIFE programs 3 ~97K hours of community service and $6MM in employee giving $20/hour minimum wage with over 40% of workforce receiving mid-year compensation increase Special COVID bonus awarded to 7,500+ eligible front-line employees during pandemic Up to 7% 401(k) employer contribution with 84% participation ~765K hours of training (39 hours average / FTE) 99% of banking centers remained open since the start of the pandemic 13MM customer outreach calls in 2021 3% consumer household growth Low reliance on punitive consumer fees, with $16MM overdraft fees avoided with Extra Time ® 2M+ mobile banking users 17% reduction in complaints since 2019 $2.8BN accelerating racial equality, equity and inclusion initiative 38% board diversity 2 59% women; 27% persons of color in workforce >99% pay equity for women and minorities 4 $88MM Tier 1 diverse supplier spend, ~9% of net addressable spend (up from 7% in 2020) Launched Empowering Community Leaders career development growth program $12BN in sustainable financing towards $100BN goal 150 due diligence reviews for sensitive sectors in compliance with E&S Policy 1 50% reduction in Scope 1 and 2 GHG emissions since 2014 100% renewable energy purchased since 2019 Achieved carbon neutrality in our operations since 2020 4 $500MM inaugural Green Bond issued in October 2021 Fifth Third is committed to supporting customers, communities and employees For end note descriptions, see end note summary starting on page 38 Sustainability priorities and metrics

© Fifth Third Bancorp | All Rights Reserved 17 Recent actions Third-party recognitions $500,000 donated for hurricane relief in Florida Through Fifth Third Foundation in addition to other assistance programs Published 3 rd ESG report Available on ir.53.com Announced 10-year $100BN Environmental & Social Finance Target Expansion of the original $8BN renewable energy goal achieved in June 2022 Aligned executive compensation to ESG topics ESG Funding Modifier added to 2022 Variable Compensation Plan Established sustainability office Leading comprehensive environmental, social and governance strategy, which includes the Bank’s climate strategy and sustainable finance initiatives Acquisition of Dividend Finance A leading fintech point-of-sale (POS) lender, providing financing solutions for residential renewable energy and sustainability-focused home improvement $ 20 minimum wage per hour Effective July 2022, increase from $18 per hour since 2019 Expanded operational sustainability goals Announced six new operational sustainability targets to be achieved by 2030, including Scope 1 and 2 GHG emissions reduction of 75% Rank for customer COVID Response 2021 Financial Health and Advice from a leading study Top Workplace in Financial Services Recognized by Energage in 2022 Perfect 100% Score Human Rights Campaign Corporate Equality Index for seventh consecutive year A- Leadership Band 2019, 2020 and 2021 CDP surveys BankOn National Certification For Express Banking account #1 SSGA R-Factor Score August 2022 Outperformer Top 10-30% among Commercial Banks S&P Global ESG Score Corporate Sustainability Assessment 83 rd percentile Top among peers 1 MSCI ESG Rating Nov 2021 (last update) A Upgraded 3 notches CSRHub ESG Ranking August 2022 92nd percentile Top among peers 1 ESG Risk Rating 2 August 2022 Low Risk Top quartile among peers 1 Refinitiv ESG Combined Score July 2022 A- (79/100) Top among peers 1 A recognized leader in sustainability among peers For end note descriptions, see end note summary starting on page 38

© Fifth Third Bancorp | All Rights Reserved 2022 2023 2024 2025 2026 2027 on Fifth Third Bancorp Fifth Third Bank Fifth Third Financial Corp $2,250 $5,737 $750 18 Unsecured debt maturities Composition of deposits by segment Holding company: • Holding Company cash as of September 30, 2022: $5.4BN • Cash currently sufficient to satisfy all fixed obligations in a stressed environment for ~23 months (debt maturities, common and preferred dividends, interest, and other expenses) without accessing capital markets, relying on dividends from subsidiaries or any other actions • The Holding Company issued the following long-term debt in 3Q22: • $1BN 8NC7 fixed-to-floating rate debt • The Holding Company did not have long-term debt maturities in 3Q22 Bank entity: • The Bank did not issue or have long-term debt maturities in 3Q22 • Available and contingent borrowing capacity (3Q22): • FHLB ~$6.8BN available, ~$14.0BN total • Federal Reserve ~$42.4BN 54% 8% 38% Consumer and Small Business Banking Wealth & Asset Management Commercial Banking Average as of 3Q22 $1,150 $1,500 $0 Strong liquidity profile $ millions – excl. Retail Brokered & Institutional CDs

© Fifth Third Bancorp | All Rights Reserved 19 Dividend Finance • Closed acquisition of Dividend Finance on May 10, 2022 • Dividend Finance is a national tech-enabled point-of-sale finance provider assisting homeowners with the renewable energy transition (solar and home improvement loans) • Leading consumer solar project loan originator with a focus on prime and super-prime borrowers • ~$1.4BN in balances as of 9/30/22 compared to ~$650MM as of 6/30/22 Provide • Closed acquisition of Provide on August 2, 2021 • Provide is the leading fintech in the healthcare practice finance segment • Post-acquisition, added 5 additional products, expanded salesforce, and entered Veterinary vertical • Significant success in deepening relationships with ~70% deposit penetration and ~50% TM penetration • ~$1.6BN in balances as of 9/30/22 compared to ~$1.4BN as of 6/30/22 Forecasted ACL build of $80 to $90 million in the 4 th quarter driven by new production 1 $0.4B $0.7B ~$1.2B 2021 2022E ✓ Continue to expect through-the-cycle NCOs in the 0.25% to 0.30% range 1 ✓ Continue to expect through-the-cycle NCOs in the 1.30% area 1 Dividend Finance expectations 1 Estimated Pre-close production Post-close production ~$2.1B $0.9B ~$2.6B 2021 2022E Estimated Provide expectations 1 Expect ~$1.0B in production in 4Q22 Recent non-bank acquisitions For end note descriptions, see end note summary starting on page 38

© Fifth Third Bancorp | All Rights Reserved Paycheck Protection Program update $16 $11 $6 $3 $2 $31 $25 $14 $10 $4 $47 $36 $20 $12 $6 3Q21 4Q21 1Q22 2Q22 3Q22 Other Accelerated Fees From Forgiveness $2.3 $1.3 $0.7 $0.4 $0.2 3Q21 4Q21 1Q22 2Q22 3Q22 $3.1 $1.8 $1.0 $0.5 $0.3 3Q21 4Q21 1Q22 2Q22 3Q22 Average PPP loan balances Period-end PPP loan balances PPP interest income • Originated $7.3BN in PPP loans across all 3 waves • Projected loan balances 1 • FY22 Average Balance: $0.5BN • 4Q22 Average Balance: $0.2BN • Expect FY22 interest income of ~$40MM 1 $ in millions $ in billions $ in billions For end note descriptions, see end note summary starting on page 38; totals shown above may not foot due to rounding 20

© Fifth Third Bancorp | All Rights Reserved • Third-party serviced GNMA forbearance loan purchases: • 4Q20: $2.1BN • 1Q21: $0.6BN • 2Q21: $1.0BN • 3Q21: $0.3BN • 4Q21: $0.7BN • Expect FY22 NII of ~$62MM compared to ~$115MM in FY21 • Expect FY22 servicing expenses of ~$23MM compared to ~$50MM in FY21 • Relatively minor noninterest income in both FY21 and FY22 • GNMA forbearance projections are incorporated into outlook $4.6 $2.5 $0.9 $0.4 $0.0 0.0 0 1.0 0 2.0 0 3.0 0 4.0 0 5.0 0 3Q22 4Q22 1Q23 2Q23 3Q23 $11.5 $10.4 $4.5 $0.9 $1.0 -1.00 1.0 0 3.0 0 5.0 0 7.0 0 9.0 0 11. 00 13. 00 15. 00 3Q22 4Q22 1Q23 2Q23 3Q23 $1.1 $0.6 $0.3 $0.1 $0.0 3Q22 4Q22 1Q23 2Q23 3Q23 Average loan balances $ in billions Net interest income $ in millions Servicing expenses $ in millions actual actual actual For end note descriptions, see end note summary starting on page 38 GNMA forbearance loan purchase update 1 21

© Fifth Third Bancorp | All Rights Reserved 72% 24% 1% 3% 38% 39% 9% 10% 4% 75% 14% 7% 4% • 67% allocation to bullet/ locked- out cash flow securities • AFS yield: 2.87% 5 • Effective duration of 5.5 6 • Net unrealized pre-tax loss: $6.1BN • 99% AFS 11 $26.5BN fixed 3 | $49.1BN variable 1,2 Commercial loans 1,2,3 22 0% 100% Fix | 0% Variable 84% Fix | 16% Variable Investment portfolioConsumer loans 1 Long-term debt 4 $37.1BN fixed | $7.1BN variable 1 $7.7BN fixed | $4.0BN variable 4 • 1M based: 43% 7, 12 • 3M based: 7% 7, 12 • Prime & O/N based: 14% 7,12 • Other based: 1% 7,10, 12 • Weighted avg. life: 2.0 years 1,3 • 1M based: 2% 8,12 • 12M based: 2% 8,12 • Prime: 12% 8 • Other based: 0% 8,12,13 • Weighted avg. life: 3.8 years 1 • 1M based: 27% 9 • 3M based: 7% 9 • Weighted avg. life: 4.9 years C&I 31% Fix | 69% Variable Coml. mortgage 42% Fix | 58% Variable Coml. lease 100% Fix | 0% Variable Resi mtg.& construction 96% Fix | 4% Variable Home equity 7% Fix | 93% Variable Senior debt 63% Fix | 37% Variable Sub debt 71% Fix | 29% Variable Auto securiz. proceeds 100% Fix | 0% Variable Coml. construction 28% Fix | 72% Variable Credit card 40% Fix | 60% Variable Other 73% Fix | 27% Variable Other 85% Fix | 15% Variable Level 1 100% Fix | 0% Variable Level 2A Non-HQLA/ Other • The information above incorporates the impact of $15BN in active cash flow hedges ($8BN in C&I receive-fixed swaps, $4BN in CRE receive-fixed swaps, $3BN in floors with a 2.25% strike against 1ML) and ~$4.0BN fair value hedges associated with long-term debt (receive-fixed swaps). • The impacts of PPP loans (given the expected temporary nature) are excluded Includes $5.3BN non-agency CMBS (All super-senior, AAA-rated securities; 57.9% WA LTV, ~37.9% credit enhancement) For end note descriptions, see end note summary starting on page 38; totals shown above may not foot due to rounding Auto/Indirect 97% Fix | 3% Variable 23% 55% 22% Balance sheet positioning

© Fifth Third Bancorp | All Rights Reserved 23 Estimated NII sensitivity profile and ALCO policy limits Estimated NII sensitivity at specific betas Managing rate risk against conservative outcomes For end note descriptions, see end note summary starting on page 38 ALCO policy limit Change in interest rates (bps) 12 months 13 to 24 months 12 months 13 to 24 months +200 Ramp over 12 months (2.4%) (2.1%) (4.0%) (6.0%) +100 Ramp over 12 months (1.7%) (1.2%) NA NA -200 Ramp over 12 Months (3.5%) (9.8%) (8.0%) (12.0%) % Change in NII (FTE) Beta of 50% Beta of 60% Change in interest rates (bps) 12 months 13 to 24 months 12 months 13 to 24 months +200 Ramp over 12 months 1.5% 4.7% (0.2%) 1.6% +100 Ramp over 12 months 0.8% 2.5% (0.1%) 1.0% Dynamic beta models assume approximately 75% - 80% effective betas in our baseline NII sensitivity used in IRR simulations. 1 • Models are calibrated to performance in prior rate cycles • In 2022, we have significantly outperformed modeled betas • Additionally, rate risk measures assume no deposit re-pricing lags and $2BN of DDA runoff per 100 bps of rate hikes As of September 30, 2022: • 47% of HFI loans were variable rate net of existing hedges (65% of total commercial; 17% of total consumer) 2 • Short-term borrowings represent approximately 32% of total wholesale funding, or 4% of total funding • Approximately $10.2 billion in non-core funding matures beyond one year

© Fifth Third Bancorp | All Rights Reserved $15 4Q29 $14 3Q30 $12 $12 $11 $11 $11 $7 $7 $6 $5 $5 $1 $1 $1 $5 $5 $6 $7 $10 $3 $3 $3 $3 $3 $3 $3 $3 $3 $15 $15 $15 $15 $15 $15 $15 $15 $15 $15 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 Floors Forward starting swaps Existing swaps ($3BN @ 2.25% 1-month LIBOR strike) Cash flow hedges continue to protect NIM 1 EOP notional value of cash flow hedges ($ in billions) Actual Gross receive fixed rate of swaps: • 3Q22-4Q22: 2.35% • 1Q23-3Q23: 2.37% • 4Q23-1Q24: 2.34% • 2Q24: 2.35% • 3Q24: 2.34% • 4Q24: 2.50% • 1Q25-4Q29: 3.17% ($15BN at weighted average receive fixed rate of 3.17%) 2 $10 4Q30 For end note descriptions, see end note summary starting on page 38 Cash flow hedges Added $5BN of forward starting swaps since 2Q22; swap protection extends into 2032 ($2BN added in 3Q22, $3BN added in 4Q22) 24

© Fifth Third Bancorp | All Rights Reserved Mortgage banking results $78 $37 $25 $23 $24 $63 $67 $71 $81 $81 $9 ($5) $9 ($19) ($1) ($64) ($64) ($53) ($54) ($35) -$100 -$75 -$50 -$25 $0 $25 $50 $75 $100 $125 $150 $175 $200 3Q21 4Q21 1Q22 2Q22 3Q22 $3.8 $2.7 $2.2 $3.0 $3.3 $1.2 $1.6 $1.2 $1.3 $0.7 $5.0 $4.3 $3.5 $4.3 $4.0 3Q21 4Q21 1Q22 2Q22 3Q22 Gross servicing fees $ in millions Mortgage banking net revenue Mortgage originations and margins • Mortgage banking net revenue increased $38 million from the prior quarter, primary reflecting a $19 million reduction in MSR asset decay and an $18 million increase from MSR net valuation adjustments. • $4.0 billion in originations, down 7% from the prior quarter and down 20% compared to the year-ago quarter; ~83% purchase volume Origination fees and gains on loan sale MSR decay Net MSR Valuation Note: totals shown above may not foot due to rounding $ in billions Originations HFS Originations HFI 1.57% 1.68% 0.95% 1.10% 1.10% 1.18% 0.84% 0.85%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. 0.95% 0.80% 25 $86 $35 $52 $31 Mortgage banking net revenue $69

© Fifth Third Bancorp | All Rights Reserved $45 $22 $11 4Q22 4Q23 4Q24 Estimated potential GAAP noninterest income recognition 1,2 $ in millions; pre-tax For end note descriptions, see end note summary starting on page 38 Future TRA payment schedule 26

© Fifth Third Bancorp | All Rights Reserved Preferred dividend schedule 4Q22 1Q23 2Q23 3Q23 Series H 2 ~$15 - ~$15 ~$12 Series I ~$8 ~$8 ~$8 ~$8 Series J ~$5 ~$6 ~$6 ~$6 Series K ~$3 ~$3 ~$3 ~$3 Series L ~$4 ~$4 ~$4 ~$4 Class B Series A ~$3 ~$3 ~$3 ~$3 Total ~$38 ~$23 ~$39 ~$35 Upcoming preferred dividend schedule 1 $ in millions Floating (3ML + 3.129%) 2 For end note descriptions, see end note summary starting on page 38; totals shown above may not foot due to rounding 27

© Fifth Third Bancorp | All Rights Reserved 28 $47.8 $49.6 $52.6 $55.5 $56.6 $47.8 $51.7 $53.9 $56.1 $56.4 0 0.2 0.4 0.6 0.8 1 1.2 $0. 0 $10 .0 $20 .0 $30 .0 $40 .0 $50 .0 $60 .0 3Q21 4Q21 1Q22 2Q22 3Q22 Portfolio loans $ in billions (3.1%) 0.6% 8.0% 4.4% 4.1% Period-end QoQ change Average QoQ change (1.7%) (2.1%) 3.8% 6.0% 5.5% Average – C&I Period-end – C&I 37.6% 33.4% 31.8% 31.2% 31.3% 31.1% 33.4% 35.5% 36.8% 37.2% 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 Key statistics NCO ratio 1 0.11% 0.07% 0.24% 30-89 Delinquencies 0.22% 0.16% 0.19% 90+ Delinquencies 0.00% 0.02% 0.01% Nonperforming Loans 2 0.73% 0.50% 0.48% Revolving Line Utilization Trend 3 04 24% % 15 9% 22% 1 1% 3% 61 48% 5% 2.1%5.5%6.0%3.8(2.1 ) 0.6%14 48.00 6 3Q21 2Q22 3Q22 Commercial & industrial overview For end note descriptions, see end note summary starting on page 38; totals shown above may not foot due to rounding

© Fifth Third Bancorp | All Rights Reserved Commercial real estate overview 29 Non-Owner Occupied 54% Owner Occupied 46% Multifamily 30% Home Builder 20% Industrial 9% Hospitality 8% Office 10% Retail 3% Other 20% NCO ratio 1 30-89 Delinquencies 90+ Delinquencies Nonperforming Loans 2 CRE Mortgage Balance by owner occupancy CRE Construction Balance by property type $10.5 $10.3 $10.3 $10.2 $10.3 $10.5 $10.7 $10.7$10.7 Average – Commercial Mortgage Average – Commercial Construction Period-end – Commercial Mortgage Period-end – Commercial Construction $10.3 Portfolio loans Key statistics Period-end QoQ change Average QoQ change (0.02%) 0.07% (0.03%) 0.23% 0.07% 0.10% 0.01% 0.00% 0.00% 0.32% 0.30% 0.25% 3Q21 2Q22 3Q22 $10.3 $10.2 $10.5 $ 7 $10.8 $10.3 $10.3 $10.7 $10.7 $10.9 $5.7 $5.3 $5.4 $5.4 $5.6$5.5 $5.2 $5.4 $5.4 $5.6 $15.8 $15.6 $16.1 $16.1 $16.5 $16.0 $15.6 $15.9 $16.1 $16.3 $0. 0 $2. 0 $4. 0 $6. 0 $8. 0 $10 .0 $12 .0 $14 .0 $16 .0 $6. 0 $6. 5 $7. 0 $7. 5 $8. 0 $8. 5 $9. 0 $9. 5 $10 .0 $10 .5 $11 .0 3Q21 4Q21 1Q22 2Q22 3Q22 1.5%1.1%2.0%(2.9%)(2.8%) (2.8%) (1.3%) 3.6% (0.1%) 2.6% For end note descriptions, see end note summary starting on page 38; totals shown above may not foot due to rounding $ in billions

© Fifth Third Bancorp | All Rights Reserved Residential mortgage overview 30 $16.2 $16.2 $16.5 $17.4 $17.6 $16.2 $16.4 $17.1 $17.6 $17.6 3Q21 4Q21 1Q22 2Q22 3Q22 2Q21 1Q22 2Q22 NCO ratio 1 30-89 Delinquencies 0.12% 0.09% 0.09% 90+ Delinquencies 0.35% 0.08% 0.05% Nonperforming Loans 2 0.30% 0.51% 0.60% Weighted average FICO at origination 3 Weighted average LTV at origination $ in billions 0.5% 2.1% (0.2%) 1.9% 5.2% 4% 13% 15% 69% Portfolio FICO score at origination 3 750+720-749<660 660-719 2.3% 0.2% 1.5% 4.6% 2.5% Average Period-end Portfolio loans Key statistics Period-end QoQ change Average QoQ change 3 2 3 (0.02%) (0.02%) (0.02%) 0.1 . .10 0.38 . 5 . 4 0.24 .60 5 764 765 766 72% 71% 71% 1 55.2%1.9(0.2 )2 1 0.22.5%4.61.50.2 For end note descriptions, see end note summary starting on page 38; totals shown above may not foot due to rounding

© Fifth Third Bancorp | All Rights Reserved 2Q21 1Q22 2Q22 NCO ratio 1 (0.09%) (0.07%) (0.06%) 30-89 Delinquencies 0.44% 0.64% 0.56% 90+ Delinquencies 0.02% 0.03% 0.05% Nonperforming Loans 2 1.87% 1.97% 1.84% Weighted average FICO at origination 3 762 764 765 Weighted average LTV at origination 69% 68% 68% Home equity overview 31 $4.4 $4.2 $4.0 $3.9 $4.0 $4.3 $4.1 $3.9 $3.9 $4.0 3Q21 4Q21 1Q22 2Q22 3Q22 2% 17% 16% 65% Portfolio FICO score at origination 3 (6.7%) (5.7%) (5.2%) (4.1%) (2.8%) (5.6%) (5.9%) (4.5%) (4.1%) (0.3%) Average Period-end 750+720-749<660 660-719 $ in billions Portfolio loans Key statistics Period-end QoQ change Average QoQ change 3Q21 2 3 ( 13 ) 6%) ( .08%) 0.5 56% .55% 0. 5% .03% 1. 2 84% .70% 5 67 7% 1.6%(2.8 )(4.1( 2 )5. ) 2.4%(0.3 )(4.1(4.5 )( .9%) For end note descriptions, see end note summary starting on page 38; totals shown above may not foot due to rounding

© Fifth Third Bancorp | All Rights Reserved Indirect secured consumer overview 32 $15.6 $16.3 $17.1 $17.2 $16.8 $16.0 $16.8 $17.4 $17.0 $16.6 3Q21 4Q21 1Q22 2Q22 3Q22 5.4% 6.0% 4.8% 4.8% 0.6% 2% 22% 17% 60% 2Q21 1Q22 2Q22 NCO ratio 1 0.01% 0.17% 0.13% 30-89 Delinquencies 0.45% 0.62% 0.59% 90+ Delinquencies 0.03% 0.05% 0.05% Nonperforming Loans 2 0.32% 0.13% 0.11% Weighted average FICO at origination 764 768 767 Weighted average LTV at origination 89% 88% 88% Portfolio FICO score at origination 750+720-749<660 660-719 86% 14% Auto Specialty Lending Includes primarily RV & Marine 6.0% 5.3% 4.9% 3.8% (2.3%) Average Period-end $ in billions Portfolio loans Key statistics Period-end QoQ change Average QoQ change 3Q2 2 3 (0.02 ) 3 24% 0.52 59 64% 0. 5 6% 0.2 1 09% 765 7 8 88 % (2.8%)0.6%4 86 0 (2.2%)(2.3%)3 84 95 3 For end note descriptions, see end note summary starting on page 38; totals shown above may not foot due to rounding 5

© Fifth Third Bancorp | All Rights Reserved Credit card overview 33 $1.7 $1.7 $1.7 $1.7 $1.8$1.7 $1.8 $1.7 $1.8 $1.8 3Q21 4Q21 1Q22 2Q22 3Q22 (5.8%) (1.2%) (0.5%) (2.8%) 0.8% (0.9%) (2.7%) 1.3% (4.3%) 4.3% Average Period-End 4% 29% 20% 47% 2Q21 1Q22 2Q22 NCO ratio 1 4.52% 3.13% 3.26% 30-89 Delinquencies 0.84% 1.01% 0.96% 90+ Delinquencies 0.78% 0.83% 0.74% Nonperforming Loans 2 1.51% 1.36% 1.30% Weighted average FICO at origination 3 739 741 742 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 3Q21 2 3 2.70% 3.26% 2.69% 0.97% 0.96% 1.02% 0.80 0.74 . 9 1.38% 1.30% 1.30% 740 7 2 3.10.2 8 )0 5 )1 2 ) 0 4.(4 )1 32 7 ) For end note descriptions, see end note summary starting on page 38; totals shown above may not foot due to rounding

© Fifth Third Bancorp | All Rights Reserved 3Q21 4Q21 1Q22 2Q22 3Q22 212$ 179$ 161$ 211$ 220$ Transfers to nonaccrual status 33 30 97 64 56 Transfers to accrual status (45) (30) (23) (29) (22) Transfers to held for sale - - - - - Loan paydowns/payoffs (14) (13) (16) (20) (20) Transfers to OREO - - (1) (1) (1) Charge-offs (7) (5) (7) (6) (10) Draws/other extensions of credit - - - 1 1 179$ 161$ 211$ 220$ 224$ Balance, beginning of period Balance, end of period 3Q21 4Q21 1Q22 2Q22 3Q22 409$ 349$ 337$ 323$ 319$ Transfers to nonaccrual status 47 62 54 49 91 Transfers to accrual status - (26) (2) - - Transfers to held for sale (1) (2) (4) - (19) Loan paydowns/payoffs (97) (21) (52) (17) (48) Transfers to OREO - - - - - Charge-offs (10) (28) (11) (37) (47) Draws/other extensions of credit 1 3 1 1 2 349$ 337$ 323$ 319$ 298$ Balance, beginning of period Balance, end of period Commercial Consumer Total NPL $ in millions $ in millions $ in millions For end note descriptions, see end note summary starting on page 38 NPL 1 Rollforward 34 Total NPL 528$ 498$ 534$ 539$ 522$ Total new nonaccrual loans - HFI 80$ 92$ 151$ 113$ 147$

© Fifth Third Bancorp | All Rights Reserved 3Q22 adjustments and notable items Adjusted EPS of $0.93 1 3Q22 reported EPS of $0.91 included a negative $0.02 impact from the following notable item: • $17 million pre-tax (~$13 million after-tax 2 ) charge related to the valuation of the Visa total return swap For end note descriptions, see end note summary starting on page 38 35

© Fifth Third Bancorp | All Rights Reserved Non-GAAP reconciliation For end note descriptions, see end note summary starting on page 38; totals shown above may not foot due to rounding 36 Fifth Third Bancorp and Subsidiaries $ and shares in millions September June March December September (unaudited) 2022 2022 2022 2021 2021 Net income (U.S. GAAP) (a) $653 $562 $494 $662 $704 Net income (U.S. GAAP) (annualized) (b) $2,591 $2,254 $2,003 $2,626 $2,793 Net income available to common shareholders (U.S. GAAP) (c) $631 $526 $474 $627 $684 Add: Intangible amortization, net of tax 10 9 9 9 9 Tangible net income available to common shareholders (d) $641 $535 $483 $636 $693 Tangible net income available to common shareholders (annualized) (e) $2,543 $2,146 $1,959 $2,523 $2,749 Net income available to common shareholders (annualized) (f) $2,503 $2,110 $1,922 $2,488 $2,714 Average Bancorp shareholders' equity (U.S. GAAP) (g) $18,864 $19,248 $21,402 $22,449 $22,927 Less: Average preferred stock (h) (2,116) (2,116) (2,116) (2,116) (2,116) Average goodwill (4,926) (4,744) (4,514) (4,514) (4,430) Average intangible assets and other servicing rights (188) (158) (150) (162) (149) Average tangible common equity (i) $11,634 $12,230 $14,622 $15,657 $16,232 Less: Average accumulated other comprehensive income ("AOCI") 3,037 2,397 (129) (1,382) (1,980) Average tangible common equity, excluding AOCI (j) $14,671 $14,627 $14,493 $14,275 $14,252 Adjustments (pre-tax items) Valuation of Visa total return swap 17 18 11 19 17 Fifth Third Foundation contribution - - - - 15 Net business acquisition and disposition charges/(gain) - 6 - (60) Special COVID staffing bonus to front-line employees - - - 10 - Adjustments - after-tax 1 (k) 13 19 8 22 (21) Adjusted net income [(a) + (k)] $666 $581 $502 $684 $683 Adjusted net income (annualized) (l) $2,642 $2,330 $2,036 $2,714 $2,710 Adjusted net income available to common shareholders [(c) + (k)] $644 $545 $482 $649 $663 Adjusted net income available to common shareholders (annualized) (m) $2,555 $2,186 $1,955 $2,575 $2,630 Adjusted tangible net income available to common shareholders [(d) + (k)] $654 $554 $491 $658 $672 Adjusted tangible net income available to common shareholders (annualized) (n) $2,595 $2,222 $1,991 $2,611 $2,666 Average assets (o) $206,688 $205,897 $209,150 $209,604 $205,449 Metrics: Return on assets (b) / (o) 1.25% 1.09% 0.96% 1.25% 1.36% Adjusted return on assets (l) / (o) 1.28% 1.13% 0.97% 1.29% 1.32% Return on average common equity (f) / [(g) + (h)] 14.9% 12.3% 10.0% 12.2% 13.0% Adjusted return on average common equity (m) / [(g) + (h)] 15.3% 12.8% 10.1% 12.7% 12.6% Return on average tangible common equity (e) / (i) 21.9% 17.5% 13.4% 16.1% 16.9% Adjusted return on average tangible common equity (n) / (i) 22.3% 18.2% 13.6% 16.7% 16.4% Adjusted return on average tangible common equity, excluding AOCI (n) / (j) 17.7% 15.2% 13.7% 18.3% 18.7% For the Three Months Ended

© Fifth Third Bancorp | All Rights Reserved Earnings presentation end notes 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 36 and 37 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. Results are on a fully-taxable equivalent basis; non-GAAP measure: see reconciliation on pages 36 and 37 of this presentation and use of non-GAAP measures on pages 27-29 of the earnings release. Slide 5 end notes 1. Non-GAAP measure: see reconciliation on pages 36 and 37 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 36 and 37 of this presentation and use of non-GAAP measures on pages 27-29 of the earnings release. Slide 7 end notes 1. Includes taxable and tax-exempt securities. Slide 9 end notes 1. Excludes HFS loans. Slide 10 end notes 1. 3Q22 commercial and consumer portfolio make up $128 and $71M, respectively, of the total reserve for unfunded commitment. Slide 11 end notes 1. Current period regulatory capital ratios are estimated. 2. 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 13 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 Data is for fiscal year 2021, unless otherwise noted. 1. 9/23/2020 - 3/31/2022. 2. As of 7/5/2022 and in terms of ethnicity or gender. 3. Since 2004 4. Refer to the 2021 ESG report for additional details on methodology. Slide 17 end notes 1. Peer group comprises of Fifth Third’s board approved peers. 2. From leading third-party ESG data provider. 38

© Fifth Third Bancorp | All Rights Reserved Earnings presentation end notes Slide 19 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. Slide 20 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. Slide 21 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. Slide 22 end notes Note: Data as of 9/30/22. 1. Excludes HFS Loans & Leases. 2. Fifth Third had $15B of commercial variable loans classified as fixed given the impacts of $3BN in floors with a 2.25% 1ML strike, $8BN in C&I receive-fix swaps, and $4BN in CRE receive-fix swaps; Excludes forward starting swaps & floors 3. Excludes ~$0.2BN in Small Business Administration Paycheck Protection Program (PPP) loans. 4. Fifth Third had $705MM 3ML receive-fix swaps and $2.25BN 1ML receive-fix swaps, and $1.0BN SOFR receive-fix swaps outstanding against long-term debt, which are being included in floating long-term debt. 5. Yield of the 3Q22 weighted average taxable and non-taxable (tax equivalent) available for sale portfolio. 6. Effective duration taxable and non-taxable available for sale portfolio. 7. As a percent of total commercial, excluding PPP loans. 8. As a percent of total consumer. 9. As a percent of par. 10. Includes 12M term, 6M term, and Fed Funds based loans. 11. Excludes equity securities. 12. Term points include LIBOR, SOFR, BSBY, AMERIBOR, Treasuries & FX curves 13. Includes overnight term, 3M term, 6M term, 12M term and Fed Funds Slide 23 end notes Note: Data as of 09/30/22; 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. Excludes ~$0.2BN in Small Business Administration Paycheck Protection Program (PPP) loans Slide 24 end notes 1. Represents forward looking statement, please refer to page 2 of this presentation regarding forward-looking non-GAAP measures; All swaps are receive fixed / pay 1-month LIBOR. 2. $3BN floors mature on 12/16/2024. Slide 26 end notes 1. Assumes FIS will have sufficient taxable income to utilize TRA related deductions and have a marginal tax rate of 25%. 2. See forward-looking statements on page 2. Slide 27 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 Series J and Series H (converts to floating in 3Q23) reflect 3m LIBOR plus applicable spread. Given the ongoing LIBOR transition, these will transition to SOFR-based calculations (pursuant to the Federal LIBOR legislation) on 6/30/2023). 39

© Fifth Third Bancorp | All Rights Reserved Earnings presentation end notes Slide 28 end notes 1. Net losses charged-off as a percent of average portfolio loans and leases presented on an annualized basis. 2. Nonperforming portfolio loans and leases as a percent of portfolio loans and leases. 3. Total commercial portfolio line utilization. Slide 29 end notes 1. Net losses charged-off as a percent of average portfolio loans and leases presented on an annualized basis. 2. Nonperforming portfolio loans and leases as a percent of portfolio loans and leases. Slide 30 end notes 1. 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 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. FICO distributions at origination exclude certain acquired home equity loans. 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 ~$80 million from credit loans on book primarily ~15+ years. Slide 34 end notes 1. Loan balances exclude nonaccrual loans HFS. Slide 35 end notes 1. Average diluted common shares outstanding (thousands); 694,593; all adjusted figures are non-GAAP measures; see reconciliation on pages 36 and 37 of this presentation and the use of non-GAAP measures on pages 27-29 of the earnings release. 2. Assumes a 23% tax rate. Slide 36 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. Slide 37 end notes Note: See pages 27-29 of the earnings release for a discussion on the use of non-GAAP financial measures. 40


						FIFTH THIRD BANCORP
						(Registrant)

Date: October 20, 2022						/s/ James C. Leonard

						James C. Leonard
						Executive Vice President and Chief Financial Officer