fitb-20230720

Fifth Third Reports Second Quarter 2023 Diluted Earnings Per Share of $0.82

Period-end total deposits increased 1% compared to the prior quarter and 2% year-over-year

Credit quality remains strong with net charge-off ratio of 0.29% and early stage delinquencies of 0.28%

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



Key Financial Data							Key Highlights

$ in millions for all balance sheet and income statement items
	2Q23		1Q23		2Q22		Stability: •Period-end total deposits increased 1% compared to 1Q23; average total deposits were flat sequentially •Strong credit quality metrics; net charge-off ratio of 0.29%, 30-89 day early stage delinquencies of 0.28%, and NPA ratio of 0.54% •ACL of 2.08%, an increase of 9 bps from 1Q23, reflecting the impact of Dividend Finance and the macroeconomic forecast Profitability: Compared to 2Q22 •Revenue increased 8%, PPNR(a) increased 6% (adjusted PPNR(a) increased 8%), and net income increased 7% •Tangible book value per share ex. AOCI(a) increased 11%; CET1 increased to 9.5% •Adjusted ROTCE ex. AOCI(a) of 15.4% increased 20 basis points •De-emphasizing indirect secured consumer lending, including reducing auto originations ~15% through exit of select non-core states Growth: •Generated consumer household growth of 3% compared to 2Q22 •Acquisition of Rize Money accelerates embedded payments capabilities, including launching "Newline by Fifth Third"

Income Statement Data
Net income available to common shareholders	$562		$535		$526
Net interest income (U.S. GAAP)	1,457		1,517		1,339
Net interest income (FTE)(a)	1,463		1,522		1,342
Noninterest income	726		696		676
Noninterest expense	1,231		1,331		1,112

Per Share Data
Earnings per share, basic	$0.82		$0.78		$0.76
Earnings per share, diluted	0.82		0.78		0.76
Book value per share	23.05		23.87		24.56
Tangible book value per share(a)	15.61		16.41		17.10

Balance Sheet & Credit Quality
Average portfolio loans and leases	$123,327		$122,812		$117,693
Average deposits	160,857		160,645		162,890
Accumulated other comprehensive loss	(5,166)		(4,245)		(2,644)
Net charge-off ratio(b)	0.29	%	0.26	%	0.21	%
Nonperforming asset ratio(c)	0.54		0.51		0.47

Financial Ratios
Return on average assets	1.17	%	1.10	%	1.09	%
Return on average common equity	13.9		13.7		12.3
Return on average tangible common equity(a)	20.5		20.5		17.5
CET1 capital(d)(e)	9.53		9.28		8.95
Net interest margin(a)	3.10		3.29		2.92
Efficiency(a)	56.2		60.0		55.1
Other than the Quarterly Financial Review tables beginning on page 14, commentary is on a fully taxable-equivalent (FTE) basis unless otherwise noted. Consistent with SEC guidance in Regulation S-K that contemplates the calculation of tax-exempt income on a taxable-equivalent basis, net interest income, net interest margin, net interest rate spread, total revenue and the efficiency ratio are provided on an FTE basis.

From Tim Spence, Fifth Third President and CEO:

Fifth Third’s financial results once again reflected our balance sheet strength, disciplined credit risk management, and diversified revenue streams. We have continued to navigate the uncertain economic environment well, including delivering solid deposit outcomes once again this quarter. Additionally, our key return metrics improved compared to the year-ago quarter while we continued to raise our regulatory capital ratios through strong earnings results.

We continue to prudently invest in this environment, adding net new households in consumer and new quality middle market relationships in commercial. Furthermore, we announced the acquisition of Rize Money to accelerate our embedded payments capabilities under the Newline brand. We also de-emphasized certain areas of the bank in order to optimize capital and returns going forward, including lowering production targets in indirect secured consumer lending.

While the economic and regulatory environments remain uncertain, Fifth Third has spent nearly a decade focused on positioning the bank to outperform peers through the cycle. Going forward, we will continue to follow our guiding principles of stability, profitability, and growth – in that order.

Investor contact: Chris Doll (513) 534-2345 | Media contact: Ed Loyd (513) 534-6397 July 20, 2023


Income Statement Highlights
($ in millions, except per share data)	For the Three Months Ended			% Change
	June	March	June
	2023	2023	2022	Seq	Yr/Yr
Condensed Statements of Income
Net interest income (NII)(a)	$1,463	$1,522	$1,342	(4)%	9%
Provision for credit losses	177	164	179	8%	(1)%
Noninterest income	726	696	676	4%	7%
Noninterest expense	1,231	1,331	1,112	(8)%	11%
Income before income taxes(a)	$781	$723	$727	8%	7%

Taxable equivalent adjustment	$6	$5	$3	20%	100%
Applicable income tax expense	174	160	162	9%	7%
Net income	$601	$558	$562	8%	7%
Dividends on preferred stock	39	23	36	70%	8%
Net income available to common shareholders	$562	$535	$526	5%	7%
Earnings per share, diluted	$0.82	$0.78	$0.76	5%	8%

Fifth Third Bancorp (NASDAQ®: FITB) today reported second quarter 2023 net income of $601 million compared to net income of $558 million in the prior quarter and $562 million in the year-ago quarter. Net income available to common shareholders in the current quarter was $562 million, or $0.82 per diluted share, compared to $535 million, or $0.78 per diluted share, in the prior quarter and $526 million, or $0.76 per diluted share, in the year-ago quarter.

Diluted earnings per share impact of certain item(s) - 2Q23

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

Valuation of Visa total return swap (noninterest income)

$(23)

Restructuring severance expense

(9)

After-tax impact(f) of certain items

$(32)

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

$(0.05)

Totals may not foot due to rounding; 1Diluted earnings per share impact reflects 686.386 million average diluted shares outstanding


Net Interest Income
(FTE; $ in millions)(a)	For the Three Months Ended						% Change
	June		March		June
	2023		2023		2022		Seq	Yr/Yr
Interest Income
Interest income	$2,376		$2,218		$1,467		7%	62%
Interest expense	913		696		125		31%	630%
Net interest income (NII)	$1,463		$1,522		$1,342		(4)%	9%


Average Yield/Rate Analysis							bps Change
Yield on interest-earning assets	5.04	%	4.80	%	3.19	%	24	185
Rate paid on interest-bearing liabilities	2.72	%	2.18	%	0.43	%	54	229

Ratios
Net interest rate spread	2.32	%	2.62	%	2.76	%	(30)	(44)
Net interest margin (NIM)	3.10	%	3.29	%	2.92	%	(19)	18

Balance sheet actions continued to reflect a defensive positioning given the uncertain macroeconomic outlook and tightening liquidity conditions. As a result, NII decreased $59 million, or 4%, compared to the prior quarter. Actions undertaken during the quarter include a continuation of deposit gathering activities, which sustained the recent deposit mix shift trends from demand to interest-bearing accounts with higher costs. These increased deposit costs were partially offset by improved loan yields from higher market rates and the impact of higher day count. Compared to the prior quarter, NIM decreased 19 bps, primarily reflecting the aforementioned deposit dynamics and the impact of higher day count, partially offset by higher loan yields. NIM results continue to be impacted by the decision to carry elevated liquidity given the environment, with the combination of cash and due from banks and other short term investments reaching $14 billion at quarter-end.

Compared to the year-ago quarter, NII increased $121 million, or 9%, reflecting the net benefit of higher market rates, as well as growth in C&I loan balances and investment portfolio balances, partially offset by the deposit mix shift from demand to interest-bearing accounts and continued deposit repricing dynamics. Compared to the year-ago quarter, NIM increased 18 bps, reflecting the net benefit of higher market rates, growth in C&I loan balances and average investment portfolio balances, and a decline in excess cash, partially offset by the aforementioned deposit dynamics and an increase in wholesale funding.


Noninterest Income
($ in millions)	For the Three Months Ended			% Change
	June	March	June
	2023	2023	2022	Seq	Yr/Yr
Noninterest Income
Service charges on deposits	$144	$137	$154	5%	(6)%
Commercial banking revenue	146	161	137	(9)%	7%
Mortgage banking net revenue	59	69	31	(14)%	90%
Wealth and asset management revenue	143	146	140	(2)%	2%
Card and processing revenue	106	100	105	6%	1%
Leasing business revenue	47	57	56	(18)%	(16)%
Other noninterest income	74	22	85	236%	(13)%
Securities gains (losses), net	7	4	(32)	75%	NM
Securities losses, net - non-qualifying hedges
on mortgage servicing rights	—	—	—	NM	NM
Total noninterest income	$726	$696	$676	4%	7%

Reported noninterest income increased $30 million, or 4%, from the prior quarter, and increased $50 million, or 7%, from the year-ago quarter. The reported results reflect the impact of certain items in the table below, including securities gains/losses which incorporate mark-to-market impacts from securities associated with non-qualified deferred compensation plans.


Noninterest Income excluding certain items
($ in millions)	For the Three Months Ended
	June	March	June	% Change
	2023	2023	2022	Seq	Yr/Yr
Noninterest Income excluding certain items
Noninterest income (U.S. GAAP)	$726	$696	$676
Valuation of Visa total return swap	30	31	18
Net disposition charges/(gain)	—	—	6
Securities (gains)/losses, net	(7)	(4)	32
Noninterest income excluding certain items(a)	$749	$723	$732	4%	2%

Noninterest income excluding certain items increased $26 million, or 4%, from the prior quarter, and increased $17 million, or 2%, from the year-ago quarter.

Compared to the prior quarter, service charges on deposits increased $7 million, or 5%, reflecting an increase in both consumer and commercial deposit fees. Commercial banking revenue decreased $15 million, or 9%, primarily reflecting lower loan syndication and M&A advisory revenue, partially offset by an increase in client financial risk management revenue. Mortgage banking net revenue decreased $10 million, or 14%, primarily reflecting an increase in MSR asset decay and a decrease in MSR net valuation adjustments, partially offset by an increase in origination fees and gains on loan sales. Wealth and asset management revenue decreased $3 million, or 2%, primarily driven by seasonally strong tax-related private client service revenue in the prior quarter, partially offset by higher personal asset management revenue. Card and processing revenue increased $6 million, or 6%, driven by higher interchange revenue. Leasing business revenue decreased $10 million, or 18%, reflecting lower lease remarketing revenue. The increase in other noninterest income was attributable to equity fund and direct investment income.

Compared to the year-ago quarter, service charges on deposits decreased $10 million, or 6%, primarily reflecting the market related impact of higher earnings credits and the elimination of consumer non-sufficient funds fees in July 2022. Commercial banking revenue increased $9 million, or 7%, primarily driven by increased loan syndication revenue and client financial risk management revenue, partially offset by a decrease in M&A advisory revenue. Mortgage banking net

revenue increased $28 million, or 90%, reflecting an increase from MSR net valuation adjustments and a decrease in MSR asset decay, partially offset by lower origination fees and gains on loan sales. Wealth and asset management revenue increased $3 million, or 2%, primarily reflecting higher personal asset management revenue. Card and processing revenue increased $1 million, or 1%, driven by higher interchange revenue partially offset by higher rewards. Leasing business revenue decreased $9 million, or 16%, reflecting lower lease remarketing revenue.


Noninterest Expense
($ in millions)	For the Three Months Ended			% Change
	June	March	June
	2023	2023	2022	Seq	Yr/Yr
Noninterest Expense
Compensation and benefits	$650	$757	$584	(14)%	11%
Net occupancy expense	83	81	75	2%	11%
Technology and communications	114	118	98	(3)%	16%
Equipment expense	36	37	36	(3)%	—
Card and processing expense	20	22	20	(9)%	—
Leasing business expense	31	34	31	(9)%	—
Marketing expense	31	29	28	7%	11%
Other noninterest expense	266	253	240	5%	11%
Total noninterest expense	$1,231	$1,331	$1,112	(8)%	11%

Reported noninterest expense decreased $100 million, or 8%, from the prior quarter, and increased $119 million, or 11%, from the year-ago quarter. The reported results reflect the impact of certain items in the table below, including restructuring severance expense from proactive actions taken to reduce ongoing expenses given the operating environment.


Noninterest Expense excluding certain item(s)
($ in millions)	For the Three Months Ended			% Change
	June	March	June
	2023	2023	2022	Seq	Yr/Yr
Noninterest Expense excluding certain item(s)
Noninterest expense (U.S. GAAP)	$1,231	$1,331	$1,112
Restructuring severance expense	(12)	(12)	—
Noninterest expense excluding certain item(s)(a)	$1,219	$1,319	$1,112	(8)%	10%

Compared to the prior quarter, noninterest expense excluding certain items decreased $100 million, or 8%, primarily driven by decreases in compensation and benefits expense, technology and communications expense, and leasing business expense. Noninterest expense in the current quarter included a $10 million expense related to the impact of non-qualified deferred compensation mark-to-market compared to a $12 million expense in the prior quarter (both of which were largely offset in net securities gains through noninterest income).

Compared to the year-ago quarter, noninterest expense excluding certain items increased $107 million, or 10%, primarily reflecting an increase in compensation and benefits expense impacted by the acquisition of Dividend Finance and the minimum wage increase in July 2022, higher technology and communications expense related to continued modernization investments, as well as an increase in other noninterest expense (primarily reflecting the ongoing impact of the FDIC assessment to increase the deposit insurance fund). The year-ago quarter included a $27 million benefit to noninterest expense related to non-qualified deferred compensation mark-to-market (which was largely offset in net securities losses through noninterest income). Excluding the impacts of non-qualified deferred compensation mark-to-market and the FDIC assessment, noninterest expense excluding certain items increased $61 million, or 5%, compared to the year-ago quarter.


Average Interest-Earning Assets
($ in millions)	For the Three Months Ended			% Change
	June	March	June
	2023	2023	2022	Seq	Yr/Yr
Average Portfolio Loans and Leases
Commercial loans and leases:
Commercial and industrial loans	$58,137	$58,149	$55,460	—	5%
Commercial mortgage loans	11,373	11,121	10,710	2%	6%
Commercial construction loans	5,535	5,507	5,356	1%	3%
Commercial leases	2,700	2,662	2,839	1%	(5)%
Total commercial loans and leases	$77,745	$77,439	$74,365	—	5%
Consumer loans:
Residential mortgage loans	$17,517	$17,581	$17,363	—	1%
Home equity	3,937	4,005	3,895	(2)%	1%
Indirect secured consumer loans	16,281	16,598	17,241	(2)%	(6)%
Credit card	1,783	1,780	1,704	—	5%
Other consumer loans	6,064	5,409	3,125	12%	94%
Total consumer loans	$45,582	$45,373	$43,328	—	5%
Total average portfolio loans and leases	$123,327	$122,812	$117,693	—	5%

Memo:
Average PPP loans	$37	$66	$549	(44)%	(93)%
Average portfolio commercial and industrial loans - excl. PPP loans	$58,100	$58,083	$54,911	—	6%

Average Loans and Leases Held for Sale
Commercial loans and leases held for sale	$19	$56	$7	(66)%	171%
Consumer loans held for sale	641	747	2,536	(14)%	(75)%
Total average loans and leases held for sale	$660	$803	$2,543	(18)%	(74)%

Total average loans and leases	$123,987	$123,615	$120,236	—	3%

Securities (taxable and tax-exempt)	$57,267	$58,514	$54,538	(2)%	5%
Other short-term investments	7,806	5,278	9,632	48%	(19)%
Total average interest-earning assets	$189,060	$187,407	$184,406	1%	3%

Compared to the prior quarter, total average portfolio loans and leases were flat, reflecting stable commercial and consumer portfolios. Average commercial portfolio loans and leases were flat, reflecting stable commercial and industrial (C&I) loan balances. Average consumer portfolio loans were flat, as an increase in other consumer loans (primarily Dividend Finance) was offset by a decrease in indirect secured consumer loan and home equity balances.

Compared to the year-ago quarter, total average portfolio loans and leases increased 5%, reflecting an increase in both commercial and consumer portfolios. Average commercial portfolio loans and leases increased 5%, primarily reflecting an increase in C&I and commercial mortgage loan balances, partially offset by a decrease in commercial lease balances. Average consumer portfolio loans increased 5%, as increases in both other consumer loans (primarily Dividend Finance) and residential mortgage loan balances were partially offset by a decrease in indirect secured consumer loan balances.

Average loans and leases held for sale were $0.7 billion in the current quarter compared to $0.8 billion in the prior quarter and $2.5 billion in the year-ago quarter.

Average securities (taxable and tax-exempt; amortized cost) of $57 billion in the current quarter decreased $1 billion, or 2%, compared to the prior quarter and increased $3 billion, or 5%, compared to the year-ago quarter. Average other short-term investments (including interest-bearing cash) of $8 billion in the current quarter increased $3 billion, or 48%, compared to the prior quarter and decreased $2 billion, or 19%, compared to the year-ago quarter.

Total period-end commercial portfolio loans and leases of $76 billion decreased 1% compared to the prior quarter, reflecting decreases in C&I loan balances primarily attributable to lower revolving line of credit utilization. Compared to the year-ago quarter, total period-end commercial portfolio loans increased 2%, primarily reflecting increases in C&I loan and commercial mortgage loan balances, partially offset by a decrease in commercial lease balances. Period-end commercial revolving line utilization was 35%, compared to 37% in the prior quarter and 37% in the year-ago quarter.

Period-end consumer portfolio loans of $46 billion were flat compared to the prior quarter, as an increase in other consumer loan balances (primarily Dividend Finance) was offset by a decrease in indirect secured consumer loan balances. Compared to the year-ago quarter, total period-end consumer portfolio loans increased 4%, reflecting increases in other consumer loan balances (primarily Dividend Finance), partially offset by a decrease in indirect secured consumer loans.

Total period-end securities (taxable and tax-exempt; amortized cost) of $57 billion in the current quarter decreased $1 billion, or 2%, compared to the prior quarter and were stable compared to the year-ago quarter. Period-end other short-term investments of approximately $11 billion increased $1 billion, or 12%, compared to the prior quarter, and increased $4 billion, or 47%, compared to the year-ago quarter.


Average Deposits
	($ in millions)	For the Three Months Ended			% Change
		June	March	June
		2023	2023	2022	Seq	Yr/Yr
	Average Deposits
	Demand	$46,520	$50,737	$62,555	(8)%	(26)%
	Interest checking	50,472	48,717	44,349	4%	14%
	Savings	21,675	23,107	23,708	(6)%	(9)%
	Money market	28,913	28,420	29,284	2%	(1)%
	Foreign office(g)	143	143	139	—	3%
	Total transaction deposits	$147,723	$151,124	$160,035	(2)%	(8)%
	CDs $250,000 or less	7,759	5,173	2,193	50%	254%
	Total core deposits	$155,482	$156,297	$162,228	(1)%	(4)%
	CDs over $250,000	5,375	4,348	662	24%	712%

	Total average deposits	$160,857	$160,645	$162,890	—	(1)%
	CDs over $250,000 includes $4.9 billion of retail brokered certificates of deposit which are covered by FDIC insurance as of the second quarter of 2023.

Compared to the prior quarter, total average deposits were flat, as increases in certificates of deposit and interest checking balances were offset by a decline in demand deposit account balances. Average demand deposits represented 30% of total core deposits in the current quarter, compared to 32% in the prior quarter. Compared to the prior quarter, average consumer segment deposits increased 1%, average commercial segment deposits decreased 1%, and average wealth & asset management segment deposits decreased 12% reflecting the impact of tax payments as well as clients' alternative investment options. Period-end total deposits increased 1% compared to the prior quarter.

Compared to the year-ago quarter, total average deposits decreased 1%, primarily reflecting a decline in demand deposits, partially offset by increases in certificates of deposit and interest checking balances. Period-end total deposits increased 2% compared to the year-ago quarter.

The period end portfolio loan-to-core deposit ratio was 77% in the current quarter, compared to 78% in the prior quarter and 75% in the year-ago quarter. Estimated uninsured deposits were approximately $66 billion, or 40% of total deposits, as of quarter end.


Average Wholesale Funding
	($ in millions)	For the Three Months Ended			% Change
		June	March	June
		2023	2023	2022	Seq	Yr/Yr
	Average Wholesale Funding
	CDs over $250,000	$5,375	$4,348	$662	24%	712%

	Federal funds purchased	376	487	392	(23)%	(4)%
	Securities sold under repurchase agreements	361	327	488	10%	(26)%
	FHLB advances	6,589	4,803	2,743	37%	140%
	Derivative collateral and other secured borrowings	79	245	340	(68)%	(77)%
	Long-term debt	12,848	13,510	11,164	(5)%	15%
	Total average wholesale funding	$25,628	$23,720	$15,789	8%	62%

	CDs over $250,000 includes $4.9 billion of retail brokered certificates of deposit which are covered by FDIC insurance as of the second quarter of 2023.

Compared to the prior quarter, average wholesale funding increased 8%, primarily reflecting an increase in FHLB advances and CDs over $250,000 (which consists almost entirely of retail brokered CDs which are covered by FDIC insurance), partially offset by lower long-term debt. Compared to the year-ago quarter, average wholesale funding increased 62%, primarily reflecting an increase in CDs over $250,000, FHLB advances, and long-term debt to further strengthen Fifth Third's balance sheet and liquidity position.


Credit Quality Summary
($ in millions)	As of and For the Three Months Ended
	June		March		December		September		June
	2023		2023		2022		2022		2022

Total nonaccrual portfolio loans and leases (NPLs)	$629		$593		$515		$522		$539
Repossessed property	8		8		6		6		6
OREO	24		22		18		18		14
Total nonperforming portfolio loans and leases and OREO (NPAs)	$661		$623		$539		$546		$559

NPL ratio(h)	0.52	%	0.48	%	0.42	%	0.44	%	0.45	%
NPA ratio(c)	0.54	%	0.51	%	0.44	%	0.46	%	0.47	%

Portfolio loans and leases 30-89 days past due (accrual)	$339		$317		$364		$335		$294
Portfolio loans and leases 90 days past due (accrual)	51		46		40		59		39

30-89 days past due as a % of portfolio loans and leases	0.28	%	0.26	%	0.30	%	0.28	%	0.25	%
90 days past due as a % of portfolio loans and leases	0.04	%	0.04	%	0.03	%	0.05	%	0.03	%

Allowance for loan and lease losses (ALLL), beginning	$2,215		$2,194		$2,099		$2,014		$1,908
Impact of adoption of ASU 2022-02	—		(49)		—		—		—
Total net losses charged-off	(90)		(78)		(68)		(62)		(62)
Provision for loan and lease losses	202		148		163		147		168
ALLL, ending	$2,327		$2,215		$2,194		$2,099		$2,014

Reserve for unfunded commitments, beginning	$232		$216		$199		$188		$177
(Benefit from) provision for the reserve for unfunded commitments	(25)		16		17		11		11
Reserve for unfunded commitments, ending	$207		$232		$216		$199		$188

Total allowance for credit losses (ACL)	$2,534		$2,447		$2,410		$2,298		$2,202

ACL ratios:
As a % of portfolio loans and leases	2.08	%	1.99	%	1.98	%	1.91	%	1.85	%
As a % of nonperforming portfolio loans and leases	403	%	413	%	468	%	440	%	408	%
As a % of nonperforming portfolio assets	383	%	393	%	447	%	420	%	394	%

ALLL as a % of portfolio loans and leases	1.91	%	1.80	%	1.81	%	1.75	%	1.70	%

Total losses charged-off	$(121)		$(110)		$(103)		$(104)		$(90)
Total recoveries of losses previously charged-off	31		32		35		42		28
Total net losses charged-off	$(90)		$(78)		$(68)		$(62)		$(62)

Net charge-off ratio (NCO ratio)(b)	0.29	%	0.26	%	0.22	%	0.21	%	0.21	%
Commercial NCO ratio	0.16	%	0.17	%	0.13	%	0.17	%	0.19	%
Consumer NCO ratio	0.50	%	0.42	%	0.38	%	0.28	%	0.24	%

Nonperforming portfolio loans and leases were $629 million in the current quarter, with the resulting NPL ratio of 0.52%. Compared to the prior quarter, NPLs increased $36 million with the NPL ratio increasing 4 bps. Compared to the year-ago quarter, NPLs increased $90 million with the NPL ratio increasing 7 bps.

Nonperforming portfolio assets were $661 million in the current quarter, with the resulting NPA ratio of 0.54%. Compared to the prior quarter, NPAs increased $38 million with the NPA ratio increasing 3 bps. Compared to the year-ago quarter, NPAs increased $102 million with the NPA ratio increasing 7 bps.

The provision for credit losses totaled $177 million in the current quarter. The allowance for credit loss ratio represented 2.08% of total portfolio loans and leases at quarter end, compared with 1.99% for the prior quarter end and 1.85% for the

year-ago quarter end. In the current quarter, the allowance for credit losses represented 403% of nonperforming portfolio loans and leases and 383% of nonperforming portfolio assets.

Net charge-offs were $90 million in the current quarter, resulting in an NCO ratio of 0.29%. Compared to the prior quarter, net charge-offs increased $12 million and the NCO ratio increased 3 bps. Commercial net charge-offs were $32 million, resulting in a commercial NCO ratio of 0.16%, which decreased 1 bp compared to the prior quarter. Consumer net charge-offs were $58 million, resulting in a consumer NCO ratio of 0.50%, which increased 8 bps compared to the prior quarter.

Compared to the year-ago quarter, net charge-offs increased $28 million and the NCO ratio increased 8 bps, reflecting a normalization from near-historically low net charge-offs in the year-ago quarter. The commercial NCO ratio decreased 3 bps compared to the prior year, and the consumer NCO ratio increased 26 bps compared to the prior year.


Capital Position
	As of and For the Three Months Ended
	June		March	December	September	June
	2023		2023	2022	2022	2022
Capital Position
Average total Bancorp shareholders' equity as a % of average assets	8.90	%	8.77%	8.18%	9.13%	9.35	%
Tangible equity(a)	8.58	%	8.39%	8.31%	8.18%	8.05	%
Tangible common equity (excluding AOCI)(a)	7.57	%	7.38%	7.30%	7.16%	7.01	%
Tangible common equity (including AOCI)(a)	5.26	%	5.49%	5.00%	4.75%	5.82	%

Regulatory Capital Ratios(d)(e)
CET1 capital	9.53	%	9.28%	9.28%	9.14%	8.95	%
Tier 1 risk-based capital	10.78	%	10.53%	10.53%	10.40%	10.23	%
Total risk-based capital	12.89	%	12.64%	12.79%	12.64%	12.47	%
Leverage	8.81	%	8.67%	8.56%	8.44%	8.30	%

The CET1 capital ratio was 9.53%, the Tangible common equity to tangible assets ratio was 7.57% excluding AOCI, and 5.26% including AOCI. The Tier 1 risk-based capital ratio was 10.78%, the Total risk-based capital ratio was 12.89%, and the Leverage ratio was 8.81%. Fifth Third did not execute share repurchases in the second quarter of 2023.

Tax Rate

The effective tax rate for the quarter was 22.5% compared with 22.3% in the prior quarter and 22.4% 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 and the effects of inflation; (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 June 30, 2023

Table of Contents




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


Fifth Third Bancorp and Subsidiaries
Financial Highlights		As of and For the Three Months Ended						% / bps								% / bps
$ in millions, except per share data								Change				Year to Date				Change
(unaudited)		June		March		June						June		June
		2023		2023		2022		Seq		Yr/Yr		2023		2022		Yr/Yr
Income Statement Data
Net interest income		$1,457		$1,517		$1,339		(4%)		9%		$2,974		$2,534		17%
Net interest income (FTE)(a)		1,463		1,522		1,342		(4%)		9%		2,985		2,541		17%
Noninterest income		726		696		676		4%		7%		1,422		1,359		5%
	Total revenue (FTE)(a)	2,189		2,218		2,018		(1%)		8%		4,407		3,900		13%
Provision for credit losses		177		164		179		8%		(1%)		341		224		52%
Noninterest expense		1,231		1,331		1,112		(8%)		11%		2,562		2,334		10%
Net income		601		558		562		8%		7%		1,159		1,056		10%
Net income available to common shareholders		562		535		526		5%		7%		1,097		1,000		10%

Earnings Per Share Data
Net income allocated to common shareholders		$562		$535		$525		5%		7%		$1,097		$999		10%
Average common shares outstanding (in thousands):
	Basic	684,029		684,017		689,019		—		(1%)		684,023		688,282		(1%)
	Diluted	686,386		689,566		694,805		—		(1%)		687,967		695,520		(1%)
Earnings per share, basic		$0.82		$0.78		$0.76		5%		8%		$1.60		$1.45		10%
Earnings per share, diluted		0.82		0.78		0.76		5%		8%		1.59		1.44		10%

Common Share Data
Cash dividends per common share		$0.33		$0.33		$0.30		—		10%		$0.66		$0.60		10%
Book value per share		23.05		23.87		24.56		(3%)		(6%)		23.05		24.56		(6%)
Market value per share		26.21		26.64		33.60		(2%)		(22%)		26.21		33.60		(22%)
Common shares outstanding (in thousands)		680,850		680,537		686,152		—		(1%)		680,850		686,152		(1%)
Market capitalization		$17,845		$18,129		$23,055		(2%)		(23%)		$17,845		$23,055		(23%)

Financial Ratios
Return on average assets		1.17	%	1.10	%	1.09	%	7		8		1.14	%	1.03	%	11
Return on average common equity		13.9	%	13.7	%	12.3	%	20		160		13.8	%	11.1	%	270
Return on average tangible common equity(a)		20.5	%	20.5	%	17.5	%	—		300		20.5	%	15.3	%	520
Noninterest income as a percent of total revenue(a)		33	%	31	%	33	%	200		—		32	%	35	%	(300)
Dividend payout		40.2	%	42.3	%	39.5	%	(210)		70		41.3	%	41.4	%	(10)
Average total Bancorp shareholders’ equity as a percent of average assets		8.90	%	8.77	%	9.35	%	13		(45)		8.83	%	9.79	%	(96)
Tangible common equity(a)		7.57	%	7.38	%	7.01	%	19		56		7.57	%	7.01	%	56
Net interest margin (FTE)(a)		3.10	%	3.29	%	2.92	%	(19)		18		3.20	%	2.75	%	45
Efficiency (FTE)(a)		56.2	%	60.0	%	55.1	%	(380)		110		58.1	%	59.8	%	(170)
Effective tax rate		22.5	%	22.3	%	22.4	%	20		10		22.4	%	20.9	%	150

Credit Quality
Net losses charged-off		$90		$78		$62		15	%	45	%	$168		$96		75	%
Net losses charged-off as a percent of average portfolio loans and leases (annualized)		0.29	%	0.26	%	0.21	%	3		8		0.27	%	0.17	%	10
ALLL as a percent of portfolio loans and leases		1.91	%	1.80	%	1.70	%	11		21		1.91	%	1.70	%	21
ACL as a percent of portfolio loans and leases(g)		2.08	%	1.99	%	1.85	%	9		23		2.08	%	1.85	%	23
Nonperforming portfolio assets as a percent of portfolio loans and leases and OREO		0.54	%	0.51	%	0.47	%	3		7		0.54	%	0.47	%	7

Average Balances
Loans and leases, including held for sale		$123,987		$123,615		$120,236		—		3%		$123,802		$118,708		4%
Securities and other short-term investments		65,073		63,792		64,170		2%		1%		64,436		67,431		(4%)
Assets		206,079		205,084		205,897		—		—		205,584		207,515		(1%)
Transaction deposits(b)		147,723		151,124		160,035		(2%)		(8%)		149,414		163,016		(8%)
Core deposits(c)		155,482		156,297		162,228		(1%)		(4%)		155,887		165,300		(6%)
Wholesale funding(d)		25,628		23,720		15,789		8%		62%		24,680		14,188		74%
Bancorp shareholders' equity		18,344		17,977		19,248		2%		(5%)		18,162		20,319		(11%)

Regulatory Capital Ratios(e)(f)
CET1 capital		9.53	%	9.28	%	8.95	%	25		58		9.53	%	8.95	%	58
Tier 1 risk-based capital		10.78	%	10.53	%	10.23	%	25		55		10.78	%	10.23	%	55
Total risk-based capital		12.89	%	12.64	%	12.47	%	25		42		12.89	%	12.47	%	42
Leverage		8.81	%	8.67	%	8.30	%	14		51		8.81	%	8.30	%	51

Additional Metrics
Banking centers		1,072		1,069		1,080		—		(1%)		1,072		1,080		(1%)
ATMs		2,114		2,118		2,153		—		(2%)		2,114		2,153		(2%)
Full-time equivalent employees		19,225		19,474		19,119		(1%)		1%		19,225		19,119		1%
Assets under care ($ in billions)(h)		$554		$542		$512		2%		8%		$554		$512		8%
Assets under management ($ in billions)(h)		59		57		54		4%		9%		59		54		9%

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

(b)Includes demand, interest checking, savings, money market and foreign office deposits of commercial customers.

(c)Includes transaction deposits plus CDs $250,000 or less.

(d)Includes CDs over $250,000, other deposits, federal funds purchased, other short-term borrowings and long-term debt.

(e)Current period regulatory capital ratios are estimates.

(f)Regulatory capital ratios are calculated pursuant to the five-year transition provision option to phase in the effects of CECL on regulatory capital after its adoption on January 1, 2020.

(g)The allowance for credit losses is the sum of the ALLL and the reserve for unfunded commitments.

(h)Assets under management and assets under care include trust and brokerage assets.


Fifth Third Bancorp and Subsidiaries
Financial Highlights
$ in millions, except per share data		As of and For the Three Months Ended
(unaudited)		June		March		December		September		June
		2023		2023		2022		2022		2022
Income Statement Data
Net interest income		$1,457		$1,517		$1,577		$1,498		$1,339
Net interest income (FTE)(a)		1,463		1,522		1,582		1,502		1,342
Noninterest income		726		696		735		672		676
	Total revenue (FTE)(a)	2,189		2,218		2,317		2,174		2,018
Provision for credit losses		177		164		180		158		179
Noninterest expense		1,231		1,331		1,218		1,167		1,112
Net income		601		558		737		653		562
Net income available to common shareholders		562		535		699		631		526

Earnings Per Share Data
Net income allocated to common shareholders		$562		$535		$698		$631		$525
Average common shares outstanding (in thousands):
	Basic	684,029		684,017		688,680		689,278		689,019
	Diluted	686,386		689,566		694,195		694,593		694,805
Earnings per share, basic		$0.82		$0.78		$1.01		$0.91		$0.76
Earnings per share, diluted		0.82		0.78		1.01		0.91		0.76

Common Share Data
Cash dividends per common share		$0.33		$0.33		$0.33		$0.33		$0.30
Book value per share		23.05		23.87		22.26		21.30		24.56
Market value per share		26.21		26.64		32.81		31.96		33.60
Common shares outstanding (in thousands)		680,850		680,537		683,386		686,343		686,152
Market capitalization		$17,845		$18,129		$22,422		$21,936		$23,055

Financial Ratios
Return on average assets		1.17	%	1.10	%	1.42	%	1.25	%	1.09	%
Return on average common equity		13.9	%	13.7	%	18.8	%	14.9	%	12.3	%
Return on average tangible common equity(a)		20.5	%	20.5	%	29.2	%	21.9	%	17.5	%
Noninterest income as a percent of total revenue(a)		33	%	31	%	32	%	31	%	33	%
Dividend payout		40.2	%	42.3	%	32.7	%	36.3	%	39.5	%
Average total Bancorp shareholders’ equity as a percent of average assets		8.90	%	8.77	%	8.18	%	9.13	%	9.35	%
Tangible common equity(a)		7.57	%	7.38	%	7.30	%	7.16	%	7.01	%
Net interest margin (FTE)(a)		3.10	%	3.29	%	3.35	%	3.22	%	2.92	%
Efficiency (FTE)(a)		56.2	%	60.0	%	52.6	%	53.7	%	55.1	%
Effective tax rate		22.5	%	22.3	%	19.4	%	22.7	%	22.4	%

Credit Quality
Net losses charged-off		$90		$78		$68		$62		$62
Net losses charged-off as a percent of average portfolio loans and leases (annualized)		0.29	%	0.26	%	0.22	%	0.21	%	0.21	%
ALLL as a percent of portfolio loans and leases		1.91	%	1.80	%	1.81	%	1.75	%	1.70	%
ACL as a percent of portfolio loans and leases(g)		2.08	%	1.99	%	1.98	%	1.91	%	1.85	%
Nonperforming portfolio assets as a percent of portfolio loans and leases and OREO		0.54	%	0.51	%	0.44	%	0.46	%	0.47	%

Average Balances
Loans and leases, including held for sale		$123,987		$123,615		$122,866		$121,900		$120,236
Securities and other short-term investments		65,073		63,792		64,774		63,478		64,170
Assets		206,079		205,084		206,017		206,688		205,897
Transaction deposits(b)		147,723		151,124		154,747		155,195		160,035
Core deposits(c)		155,482		156,297		157,495		157,243		162,228
Wholesale funding(d)		25,628		23,720		23,445		22,065		15,789
Bancorp shareholders’ equity		18,344		17,977		16,857		18,864		19,248

Regulatory Capital Ratios(e)(f)
CET1 capital		9.53	%	9.28	%	9.28	%	9.14	%	8.95	%
Tier 1 risk-based capital		10.78	%	10.53	%	10.53	%	10.40	%	10.23	%
Total risk-based capital		12.89	%	12.64	%	12.79	%	12.64	%	12.47	%
Leverage		8.81	%	8.67	%	8.56	%	8.44	%	8.30	%

Additional Metrics
Banking centers		1,072		1,069		1,087		1,080		1,080
ATMs		2,114		2,118		2,132		2,146		2,153
Full-time equivalent employees		19,225		19,474		19,319		19,187		19,119
Assets under care ($ in billions)(h)		$554		$542		$510		$494		$512
Assets under management ($ in billions)(h)		59		57		55		52		54

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

(b)Includes demand, interest checking, savings, money market and foreign office deposits of commercial customers.

(c)Includes transaction deposits plus CDs $250,000 or less.

(d)Includes CDs over $250,000, other deposits, federal funds purchased, other short-term borrowings and long-term debt.

(e)Current period regulatory capital ratios are estimates.

(f)Regulatory capital ratios are calculated pursuant to the five-year transition provision option to phase in the effects of CECL on regulatory capital after its adoption on January 1, 2020.

(g)The allowance for credit losses is the sum of the ALLL and the reserve for unfunded commitments.

(h)Assets under management and assets under care include trust and brokerage assets.


Fifth Third Bancorp and Subsidiaries
Consolidated Statements of Income
$ in millions	For the Three Months Ended			% Change		Year to Date		% Change
(unaudited)	June	March	June			June	June
	2023	2023	2022	Seq	Yr/Yr	2023	2022	Yr/Yr
Interest Income
Interest and fees on loans and leases	$1,831	$1,714	$1,081	7%	69%	$3,545	$2,062	72%
Interest on securities	437	439	369	—	18%	876	663	32%
Interest on other short-term investments	102	60	14	70%	629%	162	27	500%
Total interest income	2,370	2,213	1,464	7%	62%	4,583	2,752	67%

Interest Expense
Interest on deposits	655	478	25	37%	NM	1,133	36	NM
Interest on federal funds purchased	5	5	1	—	400%	10	1	900%
Interest on other short-term borrowings	90	57	12	58%	650%	147	13	NM
Interest on long-term debt	163	156	87	4%	87%	319	168	90%
Total interest expense	913	696	125	31%	630%	1,609	218	638%

Net Interest Income	1,457	1,517	1,339	(4%)	9%	2,974	2,534	17%

Provision for credit losses	177	164	179	8%	(1%)	341	224	52%
Net Interest Income After Provision for Credit Losses	1,280	1,353	1,160	(5%)	10%	2,633	2,310	14%

Noninterest Income
Service charges on deposits	144	137	154	5%	(6%)	281	306	(8%)
Commercial banking revenue	146	161	137	(9%)	7%	307	272	13%
Mortgage banking net revenue	59	69	31	(14%)	90%	127	83	53%
Wealth and asset management revenue	143	146	140	(2%)	2%	289	289	—
Card and processing revenue	106	100	105	6%	1%	206	201	2%
Leasing business revenue	47	57	56	(18%)	(16%)	104	118	(12%)
Other noninterest income	74	22	85	236%	(13%)	97	138	(30%)
Securities gains (losses), net	7	4	(32)	75%	NM	11	(47)	NM
Securities losses, net - non-qualifying hedges on mortgage servicing rights	—	—	—	NM	NM	—	(1)	(100%)
Total noninterest income	726	696	676	4%	7%	1,422	1,359	5%

Noninterest Expense
Compensation and benefits	650	757	584	(14%)	11%	1,407	1,295	9%
Net occupancy expense	83	81	75	2%	11%	164	152	8%
Technology and communications	114	118	98	(3%)	16%	232	199	17%
Equipment expense	36	37	36	(3%)	—	73	72	1%
Card and processing expense	20	22	20	(9%)	—	42	38	11%
Leasing business expense	31	34	31	(9%)	—	65	63	3%
Marketing expense	31	29	28	7%	11%	60	52	15%
Other noninterest expense	266	253	240	5%	11%	519	463	12%
Total noninterest expense	1,231	1,331	1,112	(8%)	11%	2,562	2,334	10%
Income Before Income Taxes	775	718	724	8%	7%	1,493	1,335	12%
Applicable income tax expense	174	160	162	9%	7%	334	279	20%
Net Income	601	558	562	8%	7%	1,159	1,056	10%
Dividends on preferred stock	39	23	36	70%	8%	62	56	11%
Net Income Available to Common Shareholders	$562	$535	$526	5%	7%	$1,097	$1,000	10%


Fifth Third Bancorp and Subsidiaries
Consolidated Statements of Income
$ in millions	For the Three Months Ended
(unaudited)	June	March	December	September	June
	2023	2023	2022	2022	2022
Interest Income
Interest and fees on loans and leases	$1,831	$1,714	$1,577	$1,315	$1,081
Interest on securities	437	439	440	414	369
Interest on other short-term investments	102	60	58	31	14
Total interest income	2,370	2,213	2,075	1,760	1,464

Interest Expense
Interest on deposits	655	478	300	112	25
Interest on federal funds purchased	5	5	2	3	1
Interest on other short-term borrowings	90	57	53	43	12
Interest on long-term debt	163	156	143	104	87
Total interest expense	913	696	498	262	125

Net Interest Income	1,457	1,517	1,577	1,498	1,339

Provision for credit losses	177	164	180	158	179
Net Interest Income After Provision for Credit Losses	1,280	1,353	1,397	1,340	1,160

Noninterest Income
Service charges on deposits	144	137	140	143	154
Commercial banking revenue	146	161	158	134	137
Mortgage banking net revenue	59	69	63	69	31
Wealth and asset management revenue	143	146	139	141	140
Card and processing revenue	106	100	103	105	105
Leasing business revenue	47	57	58	60	56
Other noninterest income	74	22	72	59	85
Securities gains (losses), net	7	4	2	(38)	(32)
Securities losses, net - non-qualifying hedges on mortgage servicing rights	—	—	—	(1)	—
Total noninterest income	726	696	735	672	676

Noninterest Expense
Compensation and benefits	650	757	655	605	584
Net occupancy expense	83	81	82	74	75
Technology and communications	114	118	111	106	98
Equipment expense	36	37	37	36	36
Card and processing expense	20	22	21	21	20
Leasing business expense	31	34	36	33	31
Marketing expense	31	29	31	35	28
Other noninterest expense	266	253	245	257	240
Total noninterest expense	1,231	1,331	1,218	1,167	1,112
Income Before Income Taxes	775	718	914	845	724
Applicable income tax expense	174	160	177	192	162
Net Income	601	558	737	653	562
Dividends on preferred stock	39	23	38	22	36
Net Income Available to Common Shareholders	$562	$535	$699	$631	$526


Fifth Third Bancorp and Subsidiaries
Consolidated Balance Sheets
$ in millions, except per share data	As of			% Change
(unaudited)	June	March	June
	2023	2023	2022	Seq	Yr/Yr
Assets
Cash and due from banks	$2,594	$2,780	$3,437	(7%)	(25%)
Other short-term investments	10,943	9,794	7,419	12%	47%
Available-for-sale debt and other securities(a)	49,329	50,719	52,837	(3%)	(7%)
Held-to-maturity securities(b)	2	2	5	—	(60%)
Trading debt securities	1,139	1,174	293	(3%)	289%
Equity securities	331	323	326	2%	2%
Loans and leases held for sale	760	749	2,542	1%	(70%)
Portfolio loans and leases:
Commercial and industrial loans	56,897	57,720	56,095	(1%)	1%
Commercial mortgage loans	11,310	11,228	10,748	1%	5%
Commercial construction loans	5,475	5,548	5,357	(1%)	2%
Commercial leases	2,670	2,743	2,850	(3%)	(6%)
Total commercial loans and leases	76,352	77,239	75,050	(1%)	2%
Residential mortgage loans	17,503	17,608	17,566	(1%)	—
Home equity	3,911	3,958	3,906	(1%)	—
Indirect secured consumer loans	16,097	16,484	17,017	(2%)	(5%)
Credit card	1,818	1,761	1,763	3%	3%
Other consumer loans	6,210	5,807	3,521	7%	76%
Total consumer loans	45,539	45,618	43,773	—	4%
Portfolio loans and leases	121,891	122,857	118,823	(1%)	3%
Allowance for loan and lease losses	(2,327)	(2,215)	(2,014)	5%	16%
Portfolio loans and leases, net	119,564	120,642	116,809	(1%)	2%
Bank premises and equipment	2,275	2,219	2,118	3%	7%
Operating lease equipment	537	578	600	(7%)	(11%)
Goodwill	4,919	4,915	4,926	—	—
Intangible assets	146	157	194	(7%)	(25%)
Servicing rights	1,764	1,725	1,582	2%	12%
Other assets	12,973	12,880	13,694	1%	(5%)
Total Assets	$207,276	$208,657	$206,782	(1%)	—

Liabilities
Deposits:
Demand	$45,264	$49,649	$60,859	(9%)	(26%)
Interest checking	52,743	49,924	43,338	6%	22%
Savings	21,342	22,563	23,748	(5%)	(10%)
Money market	30,012	28,482	28,792	5%	4%
Foreign office	182	134	177	36%	3%
CDs $250,000 or less	8,833	6,624	2,125	33%	316%
CDs over $250,000	5,752	5,599	2,135	3%	169%
Total deposits	164,128	162,975	161,174	1%	2%
Federal funds purchased	163	177	711	(8%)	(77%)
Other short-term borrowings	5,817	7,364	7,057	(21%)	(18%)
Accrued taxes, interest and expenses	1,765	1,577	1,683	12%	5%
Other liabilities	5,316	5,307	6,197	—	(14%)
Long-term debt	12,278	12,893	10,990	(5%)	12%
Total Liabilities	189,467	190,293	187,812	—	1%
Equity
Common stock(c)	2,051	2,051	2,051	—	—
Preferred stock	2,116	2,116	2,116	—	—
Capital surplus	3,708	3,682	3,636	1%	2%
Retained earnings	22,366	22,032	20,818	2%	7%
Accumulated other comprehensive loss	(5,166)	(4,245)	(2,644)	22%	95%
Treasury stock	(7,266)	(7,272)	(7,007)	—	4%
Total Equity	17,809	18,364	18,970	(3%)	(6%)
Total Liabilities and Equity	$207,276	$208,657	$206,782	(1%)	—
(a) Amortized cost	$55,399	$55,958	$56,140	(1%)	(1%)
(b) Market values	2	2	5	—	(60%)
(c) Common shares, stated value $2.22 per share (in thousands):
Authorized	2,000,000	2,000,000	2,000,000	—	—
Outstanding, excluding treasury	680,850	680,537	686,152	—	—
Treasury	243,042	243,356	237,741	—	—


Fifth Third Bancorp and Subsidiaries
Consolidated Balance Sheets
$ in millions, except per share data	As of
(unaudited)	June	March	December	September	June
	2023	2023	2022	2022	2022
Assets
Cash and due from banks	$2,594	$2,780	$3,466	$3,068	$3,437
Other short-term investments	10,943	9,794	8,351	6,594	7,419
Available-for-sale debt and other securities(a)	49,329	50,719	51,503	51,289	52,837
Held-to-maturity securities(b)	2	2	5	5	5
Trading debt securities	1,139	1,174	414	414	293
Equity securities	331	323	317	315	326
Loans and leases held for sale	760	749	1,007	1,940	2,542
Portfolio loans and leases:
Commercial and industrial loans	56,897	57,720	57,232	56,437	56,095
Commercial mortgage loans	11,310	11,228	11,020	10,947	10,748
Commercial construction loans	5,475	5,548	5,433	5,573	5,357
Commercial leases	2,670	2,743	2,704	2,821	2,850
Total commercial loans and leases	76,352	77,239	76,389	75,778	75,050
Residential mortgage loans	17,503	17,608	17,628	17,600	17,566
Home equity	3,911	3,958	4,039	4,000	3,906
Indirect secured consumer loans	16,097	16,484	16,552	16,646	17,017
Credit card	1,818	1,761	1,874	1,770	1,763
Other consumer loans	6,210	5,807	4,998	4,205	3,521
Total consumer loans	45,539	45,618	45,091	44,221	43,773
Portfolio loans and leases	121,891	122,857	121,480	119,999	118,823
Allowance for loan and lease losses	(2,327)	(2,215)	(2,194)	(2,099)	(2,014)
Portfolio loans and leases, net	119,564	120,642	119,286	117,900	116,809
Bank premises and equipment	2,275	2,219	2,187	2,155	2,118
Operating lease equipment	537	578	627	612	600
Goodwill	4,919	4,915	4,915	4,925	4,926
Intangible assets	146	157	169	181	194
Servicing rights	1,764	1,725	1,746	1,732	1,582
Other assets	12,973	12,880	13,459	14,333	13,694
Total Assets	$207,276	$208,657	$207,452	$205,463	$206,782

Liabilities
Deposits:
Demand	$45,264	$49,649	$53,125	$57,601	$60,859
Interest checking	52,743	49,924	51,653	46,985	43,338
Savings	21,342	22,563	23,469	23,771	23,748
Money market	30,012	28,482	28,220	28,707	28,792
Foreign office	182	134	182	185	177
CDs $250,000 or less	8,833	6,624	3,809	2,007	2,125
CDs over $250,000	5,752	5,599	3,232	2,396	2,135
Total deposits	164,128	162,975	163,690	161,652	161,174
Federal funds purchased	163	177	180	212	711
Other short-term borrowings	5,817	7,364	4,838	6,378	7,057
Accrued taxes, interest and expenses	1,765	1,577	1,822	1,589	1,683
Other liabilities	5,316	5,307	5,881	7,184	6,197
Long-term debt	12,278	12,893	13,714	11,712	10,990
Total Liabilities	189,467	190,293	190,125	188,727	187,812
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	3,708	3,682	3,684	3,660	3,636
Retained earnings	22,366	22,032	21,689	21,219	20,818
Accumulated other comprehensive loss	(5,166)	(4,245)	(5,110)	(5,306)	(2,644)
Treasury stock	(7,266)	(7,272)	(7,103)	(7,004)	(7,007)
Total Equity	17,809	18,364	17,327	16,736	18,970
Total Liabilities and Equity	$207,276	$208,657	$207,452	$205,463	$206,782
(a) Amortized cost	$55,399	$55,958	$57,530	$57,372	$56,140
(b) Market values	2	2	5	5	5
(c) Common shares, stated value $2.22 per share (in thousands):
Authorized	2,000,000	2,000,000	2,000,000	2,000,000	2,000,000
Outstanding, excluding treasury	680,850	680,537	683,386	686,343	686,152
Treasury	243,042	243,356	240,507	237,549	237,741


Fifth Third Bancorp and Subsidiaries
Consolidated Statements of Changes in Equity
$ in millions
(unaudited)
			For the Three Months Ended		Year to Date
			June	June	June	June
			2023	2022	2023	2022
Total Equity, Beginning			$18,364	$20,177	$17,327	$22,210
Impact of cumulative effect of change in accounting principle			—	—	37	—
Net income			601	562	1,159	1,056
Other comprehensive income (loss), net of tax:
Change in unrealized gains (losses):
		Available-for-sale debt securities	(633)	(1,506)	(33)	(3,437)
		Qualifying cash flow hedges	(289)	(43)	(24)	(416)
Change in accumulated other comprehensive income related to employee benefit plans			1	1	1	2

Comprehensive income (loss)			(320)	(986)	1,103	(2,795)
Cash dividends declared:
	Common stock		(228)	(209)	(457)	(418)
	Preferred stock		(39)	(36)	(62)	(56)
Impact of stock transactions under stock compensation plans, net			32	24	62	29
Shares acquired for treasury			—	—	(201)	—

Total Equity, Ending			$17,809	$18,970	$17,809	$18,970


Fifth Third Bancorp and Subsidiaries
Average Balance Sheet and Yield/Rate Analysis	For the Three Months Ended
$ in millions	June			March			June
(unaudited)	2023			2023			2022
	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)	$58,152	6.78	%	$58,204	6.41	%	$55,466	3.59	%
Commercial mortgage loans(a)	11,374	5.92	%	11,121	5.54	%	10,710	3.34	%
Commercial construction loans(a)	5,535	6.80	%	5,507	6.50	%	5,356	3.69	%
Commercial leases(a)	2,703	3.54	%	2,663	3.48	%	2,840	2.93	%
Total commercial loans and leases	77,764	6.54	%	77,495	6.19	%	74,372	3.54	%
Residential mortgage loans	18,158	3.39	%	18,329	3.39	%	19,899	3.12	%
Home equity	3,937	7.39	%	4,006	6.47	%	3,895	3.81	%
Indirect secured consumer loans	16,281	4.19	%	16,598	3.95	%	17,241	3.17	%
Credit card	1,783	13.93	%	1,780	14.16	%	1,704	12.29	%
Other consumer loans	6,064	7.21	%	5,407	6.95	%	3,125	5.99	%
Total consumer loans	46,223	4.92	%	46,120	4.69	%	45,864	3.73	%
Total loans and leases	123,987	5.94	%	123,615	5.63	%	120,236	3.61	%
Securities:
Taxable securities	55,771	3.07	%	57,110	3.06	%	53,475	2.73	%
Tax exempt securities(a)	1,496	3.19	%	1,404	3.11	%	1,063	2.47	%
Other short-term investments	7,806	5.24	%	5,278	4.65	%	9,632	0.60	%
Total interest-earning assets	189,060	5.04	%	187,407	4.80	%	184,406	3.19	%
Cash and due from banks	2,622			3,136			3,118
Other assets	16,613			16,687			20,282
Allowance for loan and lease losses	(2,216)			(2,146)			(1,909)
Total Assets	$206,079			$205,084			$205,897

Liabilities
Interest-bearing liabilities:
Interest checking deposits	$50,472	2.81	%	$48,717	2.34	%	$44,349	0.15	%
Savings deposits	21,675	0.72	%	23,107	0.59	%	23,708	0.03	%
Money market deposits	28,913	1.86	%	28,420	1.20	%	29,284	0.06	%
Foreign office deposits	143	1.25	%	143	1.91	%	139	0.13	%
CDs $250,000 or less	7,759	3.48	%	5,173	2.67	%	2,193	0.09	%
Total interest-bearing core deposits	108,962	2.19	%	105,560	1.67	%	99,673	0.09	%
CDs over $250,000	5,375	4.53	%	4,348	4.15	%	662	1.08	%

Total interest-bearing deposits	114,337	2.30	%	109,908	1.76	%	100,335	0.10	%
Federal funds purchased	376	5.11	%	487	4.55	%	392	0.82	%
Securities sold under repurchase agreements	361	1.17	%	327	0.73	%	488	0.08	%
FHLB advances	6,589	5.23	%	4,803	4.44	%	2,743	1.41	%
Derivative collateral and other secured borrowings	79	15.07	%	245	5.90	%	340	3.12	%
Long-term debt	12,848	5.12	%	13,510	4.68	%	11,164	3.09	%
Total interest-bearing liabilities	134,590	2.72	%	129,280	2.18	%	115,462	0.43	%
Demand deposits	46,520			50,737			62,555
Other liabilities	6,625			7,090			8,632
Total Liabilities	187,735			187,107			186,649
Total Equity	18,344			17,977			19,248
Total Liabilities and Equity	$206,079			$205,084			$205,897
Ratios:
Net interest margin (FTE)(b)		3.10	%		3.29	%		2.92	%
Net interest rate spread (FTE)(b)		2.32	%		2.62	%		2.76	%
Interest-bearing liabilities to interest-earning assets		71.19	%		68.98	%		62.61	%
(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	June			June
(unaudited)	2023			2022
	Average	Average		Average	Average
	Balance	Yield/Rate		Balance	Yield/Rate
Assets
Interest-earning assets:
Loans and leases:
Commercial and industrial loans(a)	$58,178	6.59	%	$54,022	3.45	%
Commercial mortgage loans(a)	11,248	5.74	%	10,620	3.17	%
Commercial construction loans(a)	5,521	6.65	%	5,364	3.49	%
Commercial leases(a)	2,683	3.51	%	2,891	2.89	%
Total commercial loans and leases	77,630	6.37	%	72,897	3.39	%
Residential mortgage loans	18,243	3.39	%	20,037	3.15	%
Home equity	3,971	6.93	%	3,952	3.66	%
Indirect secured consumer loans	16,439	4.07	%	17,189	3.13	%
Credit card	1,781	14.04	%	1,698	12.30	%
Other consumer loans	5,738	7.09	%	2,935	6.03	%
Total consumer loans	46,172	4.81	%	45,811	3.71	%
Total loans and leases	123,802	5.78	%	118,708	3.51	%
Securities:
Taxable securities	56,437	3.07	%	47,476	2.77	%
Tax exempt securities(a)	1,450	3.15	%	1,036	2.43	%
Other short-term investments	6,549	5.00	%	18,919	0.28	%
Total interest-earning assets	188,238	4.92	%	186,139	2.99	%
Cash and due from banks	2,878			3,040
Other assets	16,649			20,237
Allowance for loan and lease losses	(2,181)			(1,901)
Total Assets	$205,584			$207,515

Liabilities
Interest-bearing liabilities:
Interest checking deposits	$49,599	2.58	%	$46,492	0.10	%
Savings deposits	22,387	0.65	%	23,242	0.02	%
Money market deposits	28,668	1.53	%	29,771	0.05	%
Foreign office deposits	143	1.57	%	132	0.09	%
CDs $250,000 or less	6,473	3.15	%	2,284	0.10	%
Total interest-bearing core deposits	107,270	1.93	%	101,921	0.07	%
CDs over $250,000	4,865	4.36	%	459	1.02	%
Total interest-bearing deposits	112,135	2.00	%	102,380	0.07	%
Federal funds purchased	431	4.79	%	326	0.56	%
Securities sold under repurchase agreements	344	0.96	%	489	0.05	%
FHLB advances	5,701	4.90	%	1,379	1.41	%
Derivative collateral and other secured borrowings	161	8.14	%	370	1.61	%
Long-term debt	13,178	4.90	%	11,165	3.05	%
Total interest-bearing liabilities	131,950	2.46	%	116,109	0.38	%
Demand deposits	48,617			63,379
Other liabilities	6,855			7,708
Total Liabilities	187,422			187,196
Total Equity	18,162			20,319
Total Liabilities and Equity	$205,584			$207,515
Ratios:
Net interest margin (FTE)(b)		3.20	%		2.75	%
Net interest rate spread (FTE)(b)		2.46	%		2.61	%
Interest-bearing liabilities to interest-earning assets		70.10	%		62.38	%
(a) Average Yield/Rate of these assets are presented on an FTE basis.
(b) Non-GAAP measure; see discussion and reconciliation of non-GAAP measures beginning on page 27.


Fifth Third Bancorp and Subsidiaries
Summary of Loans and Leases
$ in millions	For the Three Months Ended
(unaudited)	June	March	December	September	June
	2023	2023	2022	2022	2022
Average Portfolio Loans and Leases
Commercial loans and leases:
Commercial and industrial loans	$58,137	$58,149	$57,646	$56,646	$55,460
Commercial mortgage loans	11,373	11,121	10,898	10,751	10,710
Commercial construction loans	5,535	5,507	5,544	5,557	5,356
Commercial leases	2,700	2,662	2,736	2,792	2,839
Total commercial loans and leases	77,745	77,439	76,824	75,746	74,365
Consumer loans:
Residential mortgage loans	17,517	17,581	17,577	17,617	17,363
Home equity	3,937	4,005	4,024	3,956	3,895
Indirect secured consumer loans	16,281	16,598	16,536	16,750	17,241
Credit card	1,783	1,780	1,795	1,756	1,704
Other consumer loans	6,064	5,409	4,615	3,819	3,125
Total consumer loans	45,582	45,373	44,547	43,898	43,328
Total average portfolio loans and leases	$123,327	$122,812	$121,371	$119,644	$117,693

Average Loans and Leases Held for Sale
Commercial loans and leases held for sale	$19	$56	$84	$3	$7
Consumer loans held for sale	641	747	1,411	2,253	2,536
Average loans and leases held for sale	$660	$803	$1,495	$2,256	$2,543

Average PPP loans(a)	$37	$66	$158	$283	$549
Average portfolio commercial and industrial loans - excluding PPP loans	58,100	58,083	57,488	56,363	54,911
Total average portfolio commercial and industrial loans	$58,137	$58,149	$57,646	$56,646	$55,460

End of Period Portfolio Loans and Leases
Commercial loans and leases:
Commercial and industrial loans	$56,897	$57,720	$57,232	$56,437	$56,095
Commercial mortgage loans	11,310	11,228	11,020	10,947	10,748
Commercial construction loans	5,475	5,548	5,433	5,573	5,357
Commercial leases	2,670	2,743	2,704	2,821	2,850
Total commercial loans and leases	76,352	77,239	76,389	75,778	75,050
Consumer loans:
Residential mortgage loans	17,503	17,608	17,628	17,600	17,566
Home equity	3,911	3,958	4,039	4,000	3,906
Indirect secured consumer loans	16,097	16,484	16,552	16,646	17,017
Credit card	1,818	1,761	1,874	1,770	1,763
Other consumer loans	6,210	5,807	4,998	4,205	3,521
Total consumer loans	45,539	45,618	45,091	44,221	43,773
Total portfolio loans and leases	$121,891	$122,857	$121,480	$119,999	$118,823

End of Period Loans and Leases Held for Sale
Commercial loans and leases held for sale	$32	$24	$73	$69	$4
Consumer loans held for sale	728	725	934	1,871	2,538
Loans and leases held for sale	$760	$749	$1,007	$1,940	$2,542

Operating lease equipment	$537	$578	$627	$612	$600

Loans and Leases Serviced for Others(b)
Commercial and industrial loans	$1,122	$1,090	$1,109	$1,067	$994
Commercial mortgage loans	748	696	614	630	601
Commercial construction loans	260	386	406	421	418
Commercial leases	642	588	581	567	566
Residential mortgage loans	102,817	103,399	103,154	102,696	100,519
Other consumer loans	853	881	912	941	974
Total loans and leases serviced for others	106,442	107,040	106,776	106,322	104,072
Total loans and leases owned or serviced	$229,630	$231,224	$229,890	$228,873	$226,037

End of period PPP loans(a)	$29	$48	$94	$210	$371
End of period portfolio commercial and industrial loans - excluding PPP loans	56,868	57,672	57,138	56,227	55,724
Total end of period portfolio commercial and industrial loans	$56,897	$57,720	$57,232	$56,437	$56,095

(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)		June		March		December		September		June
		2023(a)		2023		2022		2022		2022
Regulatory Capital(b)
CET1 capital		$16,097		$15,727		$15,670		$15,264		$14,827
Additional tier 1 capital		2,116		2,116		2,116		2,116		2,116
Tier 1 capital		18,213		17,843		17,786		17,380		16,943
Tier 2 capital		3,554		3,588		3,820		3,743		3,713
Total regulatory capital		$21,767		$21,431		$21,606		$21,123		$20,656
Risk-weighted assets		$168,925		$169,510		$168,909		$167,060		$165,659

Ratios
Average total Bancorp shareholders' equity as a percent of average assets		8.90	%	8.77	%	8.18	%	9.13	%	9.35	%

Regulatory Capital Ratios(b)
Fifth Third Bancorp
	CET1 capital	9.53	%	9.28	%	9.28	%	9.14	%	8.95	%
	Tier 1 risk-based capital	10.78	%	10.53	%	10.53	%	10.40	%	10.23	%
	Total risk-based capital	12.89	%	12.64	%	12.79	%	12.64	%	12.47	%
	Leverage	8.81	%	8.67	%	8.56	%	8.44	%	8.30	%

Fifth Third Bank, National Association
	Tier 1 risk-based capital	11.31	%	11.63	%	11.31	%	10.94	%	10.58	%
	Total risk-based capital	12.73	%	13.05	%	12.81	%	12.41	%	12.01	%
	Leverage	9.26	%	9.62	%	9.23	%	8.91	%	8.61	%

(a)Current period regulatory capital data and ratios are estimated.

(b)Regulatory capital ratios are calculated pursuant to the five-year transition provision option to phase in the effects of CECL on regulatory capital after its adoption on January 1, 2020.


Fifth Third Bancorp and Subsidiaries
Summary of Credit Loss Experience
$ in millions	For the Three Months Ended
(unaudited)	June		March		December		September		June
	2023		2023		2022		2022		2022
Average portfolio loans and leases:
Commercial and industrial loans	$58,137		$58,149		$57,646		$56,646		$55,460
Commercial mortgage loans	11,373		11,121		10,898		10,751		10,710
Commercial construction loans	5,535		5,507		5,544		5,557		5,356
Commercial leases	2,700		2,662		2,736		2,792		2,839
Total commercial loans and leases	77,745		77,439		76,824		75,746		74,365
Residential mortgage loans	17,517		17,581		17,577		17,617		17,363
Home equity	3,937		4,005		4,024		3,956		3,895
Indirect secured consumer loans	16,281		16,598		16,536		16,750		17,241
Credit card	1,783		1,780		1,795		1,756		1,704
Other consumer loans	6,064		5,409		4,615		3,819		3,125
Total consumer loans	45,582		45,373		44,547		43,898		43,328
Total average portfolio loans and leases	$123,327		$122,812		$121,371		$119,644		$117,693

Losses charged-off:
Commercial and industrial loans	($35)		($32)		($30)		($46)		($34)
Commercial mortgage loans	—		—		—		—		—
Commercial construction loans	—		(1)		—		—		(3)
Commercial leases	—		—		(6)		(1)		—
Total commercial loans and leases	(35)		(33)		(36)		(47)		(37)
Residential mortgage loans	(1)		(1)		(1)		(1)		—
Home equity	(2)		(1)		(2)		(2)		(3)
Indirect secured consumer loans	(25)		(23)		(21)		(18)		(14)
Credit card	(21)		(20)		(17)		(15)		(18)
Other consumer loans	(37)		(32)		(26)		(21)		(18)
Total consumer loans	(86)		(77)		(67)		(57)		(53)
Total losses charged-off	($121)		($110)		($103)		($104)		($90)

Recoveries of losses previously charged-off:
Commercial and industrial loans	$3		$2		$10		$12		$1
Commercial mortgage loans	—		—		—		—		—
Commercial construction loans	—		—		—		1		—
Commercial leases	—		—		1		2		—
Total commercial loans and leases	3		2		11		15		1
Residential mortgage loans	1		1		—		2		1
Home equity	1		1		2		3		3
Indirect secured consumer loans	9		9		7		8		9
Credit card	5		5		4		3		4
Other consumer loans	12		14		11		11		10
Total consumer loans	28		30		24		27		27
Total recoveries of losses previously charged-off	$31		$32		$35		$42		$28

Net losses charged-off:
Commercial and industrial loans	($32)		($30)		($20)		($34)		($33)
Commercial mortgage loans	—		—		—		—		—
Commercial construction loans	—		(1)		—		1		(3)
Commercial leases	—		—		(5)		1		—
Total commercial loans and leases	(32)		(31)		(25)		(32)		(36)
Residential mortgage loans	—		—		(1)		1		1
Home equity	(1)		—		—		1		—
Indirect secured consumer loans	(16)		(14)		(14)		(10)		(5)
Credit card	(16)		(15)		(13)		(12)		(14)
Other consumer loans	(25)		(18)		(15)		(10)		(8)
Total consumer loans	(58)		(47)		(43)		(30)		(26)
Total net losses charged-off	($90)		($78)		($68)		($62)		($62)

Net losses charged-off as a percent of average portfolio loans and leases (annualized):
Commercial and industrial loans	0.22	%	0.21	%	0.14	%	0.24	%	0.24	%
Commercial mortgage loans	0.01	%	0.01	%	—		(0.01	%)	—
Commercial construction loans	(0.01	%)	0.10	%	—		(0.08	%)	0.23	%
Commercial leases	(0.03	%)	(0.04	%)	0.70	%	(0.12	%)	(0.03	%)
Total commercial loans and leases	0.16	%	0.17	%	0.13	%	0.17	%	0.19	%
Residential mortgage loans	—		—		0.01	%	(0.02	%)	(0.02	%)
Home equity	0.06	%	(0.04	%)	0.02	%	(0.08	%)	(0.06	%)
Indirect secured consumer loans	0.38	%	0.34	%	0.32	%	0.24	%	0.13	%
Credit card	3.61	%	3.43	%	2.85	%	2.69	%	3.26	%
Other consumer loans	1.63	%	1.41	%	1.33	%	1.10	%	1.04	%
Total consumer loans	0.50	%	0.42	%	0.38	%	0.28	%	0.24	%
Total net losses charged-off as a percent of average portfolio loans and leases (annualized)	0.29	%	0.26	%	0.22	%	0.21	%	0.21	%


Fifth Third Bancorp and Subsidiaries
Asset Quality
$ in millions	For the Three Months Ended
(unaudited)	June		March		December		September		June
	2023		2023		2022		2022		2022
Allowance for Credit Losses
Allowance for loan and lease losses, beginning	$2,215		$2,194		$2,099		$2,014		$1,908
Impact of adoption of ASU 2022-02	—		(49)		—		—		—
Total net losses charged-off	(90)		(78)		(68)		(62)		(62)
Provision for loan and lease losses	202		148		163		147		168
Allowance for loan and lease losses, ending	$2,327		$2,215		$2,194		$2,099		$2,014

Reserve for unfunded commitments, beginning	$232		$216		$199		$188		$177
(Benefit from) provision for the reserve for unfunded commitments	(25)		16		17		11		11
Reserve for unfunded commitments, ending	$207		$232		$216		$199		$188

Components of allowance for credit losses:
Allowance for loan and lease losses	$2,327		$2,215		$2,194		$2,099		$2,014
Reserve for unfunded commitments	207		232		216		199		188
Total allowance for credit losses	$2,534		$2,447		$2,410		$2,298		$2,202

	As of
	June		March		December		September		June
	2023		2023		2022		2022		2022
Nonperforming Assets and Delinquent Loans
Nonaccrual portfolio loans and leases:
Commercial and industrial loans	$322		$280		$215		$254		$268
Commercial mortgage loans	22		44		40		40		45
Commercial construction loans	—		5		8		2		4
Commercial leases	1		5		—		2		2
Residential mortgage loans	137		129		124		115		105
Home equity	61		68		67		68		72
Indirect secured consumer loans	23		27		29		15		18
Credit card	30		29		27		23		23
Other consumer loans	33		6		5		3		2
Total nonaccrual portfolio loans and leases	629		593		515		522		539
Repossessed property	8		8		6		6		6
OREO	24		22		18		18		14
Total nonperforming portfolio loans and leases and OREO	661		623		539		546		559
Nonaccrual loans held for sale	2		—		—		—		—
Total nonperforming assets	$663		$623		$539		$546		$559

Loans and leases 90 days past due (accrual):
Commercial and industrial loans	$6		$17		$11		$16		$6
Commercial mortgage loans	20		—		—		—		—

Commercial leases	—		—		2		10		1
Total commercial loans and leases	26		17		13		26		7
Residential mortgage loans(c)	7		9		7		7		8
Home equity	1		1		1		1		2
Indirect secured consumer loans	—		—		—		10		8
Credit card	17		18		18		14		13
Other consumer loans	—		1		1		1		1
Total consumer loans	25		29		27		33		32
Total loans and leases 90 days past due (accrual)(b)	$51		$46		$40		$59		$39
Ratios
Net losses charged-off as a percent of average portfolio loans and leases (annualized)	0.29	%	0.26	%	0.22	%	0.21	%	0.21	%
Allowance for credit losses:
As a percent of portfolio loans and leases	2.08	%	1.99	%	1.98	%	1.91	%	1.85	%
As a percent of nonperforming portfolio loans and leases(a)	403	%	413	%	468	%	440	%	408	%
As a percent of nonperforming portfolio assets(a)	383	%	393	%	447	%	420	%	394	%
Nonperforming portfolio loans and leases as a percent of portfolio loans and leases(a)	0.52	%	0.48	%	0.42	%	0.44	%	0.45	%
Nonperforming portfolio assets as a percent of portfolio loans and leases and OREO(a)	0.54	%	0.51	%	0.44	%	0.46	%	0.47	%
Nonperforming assets as a percent of total loans and leases, OREO, and repossessed property	0.54	%	0.50	%	0.44	%	0.45	%	0.46	%
(a) Excludes nonaccrual loans held for sale.
(b) Excludes loans held for sale.
(c) Excludes government guaranteed residential mortgage loans.

Use of Non-GAAP Financial Measures

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

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

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

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

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

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

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

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


Fifth Third Bancorp and Subsidiaries
Non-GAAP Reconciliation
$ and shares in millions		As of and For the Three Months Ended
(unaudited)		June		March		December		September		June
		2023		2023		2022		2022		2022
Net interest income		$1,457		$1,517		$1,577		$1,498		$1,339
Add: Taxable equivalent adjustment		6		5		5		4		3
Net interest income (FTE) (a)		1,463		1,522		1,582		1,502		1,342

Net interest income (annualized) (b)		5,844		6,152		6,257		5,943		5,371
Net interest income (FTE) (annualized) (c)		5,868		6,173		6,276		5,959		5,383

Interest income		2,370		2,213		2,075		1,760		1,464
Add: Taxable equivalent adjustment		6		5		5		4		3
Interest income (FTE)		2,376		2,218		2,080		1,764		1,467
Interest income (FTE) (annualized) (d)		9,530		8,995		8,252		6,998		5,884

Interest expense (annualized) (e)		3,662		2,823		1,976		1,039		501
Average interest-earning assets (f)		189,060		187,407		187,640		185,378		184,406
Average interest-bearing liabilities (g)		134,590		129,280		126,390		119,773		115,462

Net interest margin (b) / (f)		3.09	%	3.28	%	3.33	%	3.21	%	2.91	%
Net interest margin (FTE) (c) / (f)		3.10	%	3.29	%	3.35	%	3.22	%	2.92	%
Net interest rate spread (FTE) (d) / (f) - (e) / (g)		2.32	%	2.62	%	2.84	%	2.91	%	2.76	%

Income before income taxes		$775		$718		$914		$845		$724
Add: Taxable equivalent adjustment		6		5		5		4		3
Income before income taxes (FTE)		781		723		919		849		727

Net income available to common shareholders		562		535		699		631		526
Add: Intangible amortization, net of tax		8		9		10		10		9
Tangible net income available to common shareholders (h)		570		544		709		641		535
Tangible net income available to common shareholders (annualized) (i)		2,286		2,206		2,813		2,543		2,146

Average Bancorp shareholders’ equity		18,344		17,977		16,857		18,864		19,248
Less:	Average preferred stock	(2,116)		(2,116)		(2,116)		(2,116)		(2,116)
	Average goodwill	(4,919)		(4,915)		(4,925)		(4,926)		(4,744)
	Average intangible assets	(152)		(163)		(176)		(188)		(158)
Average tangible common equity, including AOCI (j)		11,157		10,783		9,640		11,634		12,230
Less:	Average AOCI	4,480		4,442		5,386		3,037		2,397
Average tangible common equity, excluding AOCI (k)		15,637		15,225		15,026		14,671		14,627

Total Bancorp shareholders’ equity		17,809		18,364		17,327		16,736		18,970
Less:	Preferred stock	(2,116)		(2,116)		(2,116)		(2,116)		(2,116)
	Goodwill	(4,919)		(4,915)		(4,915)		(4,925)		(4,926)
	Intangible assets	(146)		(157)		(169)		(181)		(194)
Tangible common equity, including AOCI (l)		10,628		11,176		10,127		9,514		11,734
Less:	AOCI	5,166		4,245		5,110		5,306		2,644
Tangible common equity, excluding AOCI (m)		15,794		15,421		15,237		14,820		14,378
Add:	Preferred stock	2,116		2,116		2,116		2,116		2,116
Tangible equity (n)		17,910		17,537		17,353		16,936		16,494

Total assets		207,276		208,657		207,452		205,463		206,782
Less:	Goodwill	(4,919)		(4,915)		(4,915)		(4,925)		(4,926)
	Intangible assets	(146)		(157)		(169)		(181)		(194)
Tangible assets, including AOCI (o)		202,211		203,585		202,368		200,357		201,662
Less:	AOCI, before tax	6,539		5,373		6,468		6,716		3,347
Tangible assets, excluding AOCI (p)		$208,750		$208,958		$208,836		$207,073		$205,009

Common shares outstanding (q)		681		681		683		686		686

Tangible equity (n) / (p)		8.58	%	8.39	%	8.31	%	8.18	%	8.05	%
Tangible common equity (excluding AOCI) (m) / (p)		7.57	%	7.38	%	7.30	%	7.16	%	7.01	%
Tangible common equity (including AOCI) (l) / (o)		5.26	%	5.49	%	5.00	%	4.75	%	5.82	%
Tangible book value per share (including AOCI) (l) / (q)		$15.61		$16.41		$14.83		$13.87		$17.10
Tangible book value per share (excluding AOCI) (m) / (q)		$23.19		$22.64		$22.31		$21.60		$20.96


Fifth Third Bancorp and Subsidiaries
Non-GAAP Reconciliation
$ in millions		For the Three Months Ended
(unaudited)		June		March		June
		2023		2023		2022
Net income (r)		$601		$558		$562
Net income (annualized) (s)		2,411		2,263		2,254

Adjustments (pre-tax items)
	Valuation of Visa total return swap	30		31		18
	Net disposition charges/(gain)	—		—		6
	Restructuring severance expense	12		12		—


Adjustments, after-tax (t)(a)		32		33		19





Noninterest income (u)		726		696		676
	Valuation of Visa total return swap	30		31		18
	Net disposition charges/(gain)	—		—		6
Adjusted noninterest income (v)		756		727		700

Noninterest expense (w)		1,231		1,331		1,112
	Restructuring severance expense	(12)		(12)		—
Adjusted noninterest expense (x)		1,219		1,319		1,112



Adjusted net income (r) + (t)		633		591		581
Adjusted net income (annualized) (y)		2,539		2,397		2,330

Adjusted tangible net income available to common shareholders (h) + (t)		602		577		554
Adjusted tangible net income available to common shareholders (annualized) (z)		2,415		2,340		2,222

Average assets (aa)		$206,079		$205,084		$205,897

Return on average tangible common equity (i) / (j)		20.5	%	20.5	%	17.5	%
Return on average tangible common equity excluding AOCI (i) / (k)		14.6	%	14.5	%	14.7	%
Adjusted return on average tangible common equity, including AOCI (z) / (j)		21.6	%	21.7	%	18.2	%
Adjusted return on average tangible common equity, excluding AOCI (z) / (k)		15.4	%	15.4	%	15.2	%

Return on average assets (s) / (aa)		1.17	%	1.10	%	1.09	%
Adjusted return on average assets (y) / (aa)		1.23	%	1.17	%	1.13	%
Efficiency ratio (FTE) (w) / [(a) + (u)]		56.2	%	60.0	%	55.1	%
Adjusted efficiency ratio (x) / [(a) + (v)]		54.9	%	58.6	%	54.5	%
Total revenue (FTE) (a) + (u)		$2,189		$2,218		$2,018
Adjusted total revenue (FTE) (a) + (v)		$2,219		$2,249		$2,042
Pre-provision net revenue (PPNR) (a) + (u) - (w)		$958		$887		$906
Adjusted pre-provision net revenue (PPNR) (a) + (v) - (x)		$1,000		$930		$930
Totals may not foot due to rounding; (a) Assumes a 23% tax rate


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

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

Net interest income (FTE)(a)	$1,025	$1,370	$95	$(1,027)	$1,463
(Provision for) benefit from credit losses	9	(65)	—	(121)	(177)
Net interest income after (provision for) benefit from credit losses	1,034	1,305	95	(1,148)	1,286
Noninterest income	336	271	137	(18)	726
Noninterest expense	(486)	(632)	(139)	26	(1,231)
Income (loss) before income taxes	884	944	93	(1,140)	781
Applicable income tax (expense) benefit(a)	(173)	(198)	(20)	211	(180)
Net income (loss)	$711	$746	$73	$(929)	$601

For the three months ended March 31, 2023	Commercial Banking	Consumer and Small Business Banking	Wealth and Asset Management	Other/ Eliminations	Total

Net interest income (FTE)(a)	$980	$1,257	$101	$(816)	$1,522
Provision for credit losses	(46)	(51)	—	(67)	(164)
Net interest income after provision for credit losses	934	1,206	101	(883)	1,358
Noninterest income	336	273	138	(51)	696
Noninterest expense	(551)	(645)	(146)	11	(1,331)
Income (loss) before income taxes	719	834	93	(923)	723
Applicable income tax (expense) benefit(a)	(139)	(175)	(19)	168	(165)
Net income (loss)	$580	$659	$74	$(755)	$558

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

Net interest income (FTE)(a)	$876	$1,151	$94	$(539)	$1,582
(Provision for) benefit from credit losses	11	(46)	—	(145)	(180)
Net interest income after (provision for) benefit from credit losses	887	1,105	94	(684)	1,402
Noninterest income	349	268	133	(15)	735
Noninterest expense	(464)	(602)	(134)	(18)	(1,218)
Income (loss) before income taxes	772	771	93	(717)	919
Applicable income tax (expense) benefit(a)	(150)	(162)	(19)	149	(182)
Net income (loss)	$622	$609	$74	$(568)	$737

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
(a) Includes taxable equivalent adjustments of $6 million for the three months ended June 30, 2023, $5 million for the three months ended March 31, 2023 and December 31, 2022, $4 million for the three months ended September 30, 2022 and $3 million for the three months ended June 30, 2022.

© Fifth Third Bancorp | All Rights Reserved Ó Fifth Third Bancorp | All Rights Reserved Fifth Third Bancorp 2Q23 Earnings Presentation July 20, 2023 Refer to earnings release dated July 20, 2023 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 and the effects of inflation; (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 2Q23 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 Reported 1 Adjusted 1 EPS $0.82 $0.87 ROA 1.17% 1.23% ROE 13.9% 14.7% ROTCE 20.5% 15.4% NIM 3.10% 3.10% Efficiency ratio 56.2% 54.9% PPNR $958MM $1,000MM CET1 2 9.53% excl. AOCI For end note descriptions, see end note summary starting on page 40 2Q23 highlights 3 • Period-end total deposits increased 1% compared to 1Q23; average total deposits were flat sequentially • Revenue increased 8%, PPNR 1 increased 6% (adjusted PPNR 1 increased 8%), net income increased 7% compared to 2Q22 • Net charge-off ratio of 0.29%, 30-89 day early stage delinquencies of 0.28%, and NPA ratio of 0.54% • Tangible book value per share ex. AOCI 1 increased 11% compared to 2Q22 • Generated consumer household growth of 3% compared to 2Q22

© Fifth Third Bancorp | All Rights Reserved Excess cash growth NII $ in millions; NIM change in bps 1Q23 to 2Q23 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 40 NII $1,5221Q23 3.29% NIM $1,463 3.10%2Q23 Securities portfolio Loan balances / mix 8 4 16 1 (44) (9)Net market rate impact Deposit/wholesale funding balances / mix (53) (11) Net interest income 1 Day Count 12 4 Other, net (1)12 - (4)

© Fifth Third Bancorp | All Rights Reserved Noninterest income • Adjusted noninterest income 1 up $26 million, or 4% • Primary drivers: ‒ Other noninterest income (up 236%) attributable to equity fund and direct investment income ‒ Service charges on deposits (up 5%) reflecting an increase in both consumer and commercial deposit fees ‒ Partially offset by commercial banking revenue (down 9%) primarily reflecting lower loan syndication revenue and M&A advisory revenue • Adjusted noninterest income 1 up $17 million, or 2% • Primary drivers: ‒ Mortgage banking net revenue (up 90%) reflecting an increase from MSR net valuation adjustments and a decrease in MSR asset decay ‒ Commercial banking revenue (up 7%) reflecting increased loan syndication revenue and client financial risk management revenue ‒ Partially offset by service charges on deposits (down 6%) reflecting the market related impact of higher earnings credits and the elimination of consumer non-sufficient funds fees in July 2022 2Q23 vs. 2Q22 2Q23 vs. 1Q23 For end note descriptions, see end note summary starting on page 40 T o t a l n o n in t e r e s t i n c o m e ; $ m il li o n s Securities losses/(gains), net ($ in millions) 2Q22 1Q23 2Q23 Net loss attributable to legacy venture equity investments $3 $7 $2 Net losses/(gains) attributable to non-qualified deferred compensation plans (NQDC), primarily offset in expenses 26 (10) (8) Other losses/(gains), net 3 (1) (1) Securities losses/(gains), net $32 ($4) ($7) 5

© Fifth Third Bancorp | All Rights Reserved • Adjusted noninterest expense 1 down $100 million, or 8% • Primary drivers: ‒ Compensation and benefits (down 14%) ‒ Technology and communications (down 3%) ‒ Leasing business expense (down 9%) ‒ Partially offset by other noninterest expense (up 5%) 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 $107 million, or 10% • Primary drivers: ‒ Compensation and benefits (up 9%) impacted by the acquisition of Dividend Finance and July 2022 minimum wage increase ‒ Other noninterest expense (up 11%) primarily reflecting the impact of the FDIC assessment ‒ Technology and communications (up 16%) related to continued modernization investments 2Q23 vs. 2Q22 2Q23 vs. 1Q23 For end note descriptions, see end note summary starting on page 40 Noninterest expense 6 ($ in millions) 2Q22 1Q23 2Q23 Non-qualified deferred compensation expense/(benefit), primarily offset in securities gains/losses $(27) $12 $10

© Fifth Third Bancorp | All Rights Reserved QoQ YoY — (71%) +33% NM QoQ YoY — +4% (1%) +2% Interest earning assets Commercial Average securities 1 and short-term investmentsAverage loan & lease balances $ in billions; loan & lease balances excluding HFS Consumer Period-end loan & lease balances Period-end HFS loan & lease balances Commercial Consumer $ in billions For end note descriptions, see end note summary starting on page 40; totals shown above may not foot due to rounding % change % change % change % change $ in billions; loan & lease balances excluding HFS $ in billions 7 $0.0 $0.0$0.0 QoQ YoY — +5% — +5% QoQ YoY +48% (19%) (2%) +5%

© Fifth Third Bancorp | All Rights Reserved Deposits and wholesale funding Average wholesale funding balancesAverage deposit balances Core depositsCDs > $250K Total interest bearing deposit costs $ in billions Total wholesale funding Wholesale funding cost Period-end deposit balances Period-end wholesale funding balances $ in billions Note: totals shown above may not foot due to rounding % change % change % change % change $ in billions $ in billions 8 Total wholesale funding QoQ YoY +8% +62% QoQ YoY (8%) +15% $5.4$4.3 $0.7 $5.8$5.6$2.1 Core depositsCDs > $250K QoQ YoY +3% +169% +1% (0)% QoQ YoY +24% NM (1%) (4%)

© Fifth Third Bancorp | All Rights Reserved 9 We have a high-quality deposit franchise High concentration of operating deposit balances which has proven to be stickier in this environment Remaining 13 sectors all <6% Commercial 38% Consumer 55% • 88% FDIC insured 1 • 92% of consumers have more than one product • 73% of consumers are digitally active • >80% of balances from clients with 5+ year tenure • Average age of household: 13 years • 1.2 million Momentum Households (~50% of total) • YoY consumer checking household growth of 2.9% Consumer franchise highlights Limited sector concentration risk Commercial franchise highlights W&AM 7% Deposit mix by segment as of 6/30/23 Household growth exceeds the U.S. population 60% of Total Bancorp Deposits are FDIC Insured YoY growth; FITB as of June 2023 Manufacturing Healthcare Other services Professional services Public adminstration Mortgage finance & other banking Insurance Other financial services For end note descriptions, see end note summary starting on page 40; totals shown above may not foot due to rounding Excludes insured sweep deposits • 26% FDIC insured 1 • 93% of balances represented by relationships that utilize Treasury Management services (including 84% of uninsured) • Balanced-weighted relationship age of 23 years • Median relationship deposit balance of ~$340K

© Fifth Third Bancorp | All Rights Reserved Early stage delinquencies and NPAs Net charge-offs (NCOs) ACL as % of portfolio loans and leases • Drivers of $87MM increase in ACL: ‒ $93MM driven by Dividend Finance ‒ $65MM due to Moody's macroeconomic forecast ‒ Partially offset by Fifth Third's improved overall credit risk profile and a decrease in overall period-end loan balances (ex. Dividend Finance) For end note descriptions, see end note summary starting on page 40 Credit quality overview 10 NPA ratio 1 30-89 days past due as a % of portfolio loans 1 Consumer NCO ratioCommercial NCO ratio Total NCO ratio 2Q212Q20 2Q22 1Q23 2Q23 0.26% 0.16% 0.10% 0.24% 0.21% 0.19% 0.42% 0.26% 0.17% 0.50% 0.29% 0.16% 2Q20 2Q21 2Q22 1Q23 2Q23 0.65% 0.33% 0.26% 0.61% 0.25% 0.47% 0.26% 0.51% 0.54% 0.28% 0.52% 0.44% 0.40%

© 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 Allocation of allowance by product $ in millions 2Q23 Amount % of portfolio loans & leases For end note descriptions, see end note summary starting on page 40; totals shown above may not foot due to rounding Change in rate Compared to: 1Q23 CECL Day 1 Allowance for credit losses 11 2,327 207 2,534 1.91% 2.08% 0.11% 0.09% 0.22% 0.26% 841 277 62 19 173 114 372 245 224 1,128 1,199 1.48% 2.45% 1.13% 0.71% 0.99% 2.91% 5.99% 1.52% 12.32% 2.48% 1.57% 0.07% 0.27% (0.11%) 0.05% (0.06%) (0.22%) 0.57% 0.23% (1.08%) 0.13% 0.09% 0.26% 0.88% 0.23% (0.17%) (0.62%) (0.46%) 2.11% 0.59% 0.97% 0.02% 0.32%

© Fifth Third Bancorp | All Rights Reserved 12 Strong liquidity and capital position • Loan-to-core deposit ratio of 77% • $5.1 billion in Holding Company cash, sufficient to satisfy all fixed obligations for ~24 months • For several years, we have performed: ◦ Daily LCR calculations ◦ Monthly liquidity stress tests, including two FITB-specific scenarios over and above regulatory requirements ◦ Monthly 2052a complex liquidity monitoring reporting Liquidity position $ in billions Fed Reserves Unpledged Investment Securities Available FHLB Borrowing Capacity Current Fed Discount Window Availability Total ~$11 ~$28 ~$10 ~$43 ~$100 3/31/23 Available BTFP Capacity ~$9 Capital position Common equity tier 1 ratio 1 Projected AOCI accretion 2 $ in billions; AOCI of current 6/30 securities and swap portfolios, after-tax 3 ~$9 ~$31 ~$8 ~$44 ~$100 ~$7 Liquidity Sources 6/30/23 For end note descriptions, see end note summary starting on page 40; totals shown above may not foot due to rounding ~36% capital accretion ~50% capital accretion

© Fifth Third Bancorp | All Rights Reserved up 3 – 5% Noninterest expense 1 up 4 – 5% (FY22 baseline: $4.719BN) Net charge-off ratio 25 – 35 bps Effective tax rate ~23% For end note descriptions, see end note summary starting on page 40 As of July 20, 2023; please see cautionary statements on page 2 Total revenue 1 up 3 – 4% (FY22 baseline: $8.487BN; Includes securities g/l) (including HFS) Avg. loans & leases up 1 – 2% Current expectations FY 2023 compared to FY 2022 13 assumes a 25 basis point hike in July 2023, remaining at 5.50% for remainder of 2023 Allowance for credit losses $25MM – $75MM build per quarter in 2H23 Primarily due to Dividend Finance and assumes no significant change to macroeconomic outlook and risk profile as of 2Q23 Net interest income 1 Noninterest income 1 stable (FY22 baseline: $5.625BN) (FY22 baseline: $2.944BN) The full year 2023 noninterest expense guidance excludes the FDIC special assessment related to recovering the cost of the closures of Silicon Valley Bank and Signature Bank.

© Fifth Third Bancorp | All Rights Reserved Net interest income 1 Noninterest income 1 down 3 – 4% Noninterest expense 1 down 1 – 2% down 2 – 3% (2Q23 baseline: $1.463BN) (2Q23 baseline: $749MM) (2Q23 baseline: $1.213BN) Net charge-off ratio 35 – 45 bps Effective tax rate ~23% For end note descriptions, see end note summary starting on page 40 As of July 20, 2023; please see cautionary statements on page 2 Total revenue 1 down 2 – 4% (2Q23 baseline: $2.219BN; Includes securities g/l) (including HFS) Avg. loans & leases down 1 – 2% Current expectations 3Q23 compared to 2Q23 14 assumes a 25 basis point rate hike in July 2023 Allowance for credit losses $25MM - $75MM build The third quarter 2023 noninterest expense guidance excludes the FDIC special assessment related to recovering the cost of the closures of Silicon Valley Bank and Signature Bank. Primarily due to Dividend Finance and assumes no significant change to macroeconomic outlook and risk profile as of 2Q23

© Fifth Third Bancorp | All Rights Reserved 16 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 17 Addressing climate change Promoting inclusion and diversity Demonstrating our commitment to employees Strengthening our communities Keeping the customer at the center $165MM in lending, investments, and philanthropy towards Empowering Black Futures Neighborhood Investment Program 3 $1.4BN provided in community development lending and investment in 2022 ~$39MM in charitable donations to support communities ~117K hours of community service "Outstanding" rating on most recent Community Reinvestment Act performance examination from the Office of the Comptroller of Currency $20/hour minimum wage with over 40% of workforce receiving mid-year compensation increase Up to 7% 401(k) employer contribution with 80% participation ~776K hours of training (40 hours average / FTE) Decrease in overall turnover from 21.2% in 2021, to 21.0% in 2022 Flexible PTO policy including volunteer paid time away for full- time (8 hours) and part-time (4 hours) employees 12MM customer outreach calls, continuing our heightened connection to the customer 3% YoY consumer household growth compared to 2Q22 Low reliance on punitive consumer fees, with $13MM in NSF fees eliminated and $39MM in overdraft fees avoided with Extra Time ® $27BN deposited up to 2 days early with Early Pay® $26MM in consumer cash back rewards with 5/3 Cash/Back cards $2.9BN in lending, investments, financial accessibility and philanthropy towards $2.8BN AREEI initiative 1,2 36% board diversity 5 58% women; 28% persons of color in workforce >99% pay equity for women and minorities 8 $120MM Tier 1 diverse supplier spend, 11% of net addressable spend ~1K members in employee Sustainability Business Resource Group as of May 2023 ~$30BN in sustainable financing towards $100BN goal 1 285 due diligence reviews for sensitive sectors in compliance with E&S Risk Management Framework 4 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 6 $500MM inaugural Green Bond issued in October 2021 7 Fifth Third is committed to supporting customers, communities and employees For end note descriptions, see end note summary starting on page 40 Sustainability priorities and metrics

© Fifth Third Bancorp | All Rights Reserved 18 Actions Demonstrating Leadership Third-party recognitions Published 2022 Sustainability 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 sustainability priorities Sustainability & Stewardship Assessment modifier in 2023 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 $500,000 donated for hurricane relief in Florida Through Fifth Third Foundation in addition to other assistance programs $ 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% SSGA R-Factor Score January 2023 Outperformer Top 10-30% among Commercial Banks S&P Global ESG Score 88 th percentile Top among peers 1 MSCI ESG Rating January 2023 A Upgraded 3 notches CSRHub ESG Ranking January 2023 89 th percentile Top quartile among peers 1 ESG Risk Rating 2 January 2023 Low Risk Top quartile among peers 1 Refinitiv ESG Combined Score January 2023 A- (79/100) Top quartile among peers 1 A recognized leader in sustainability among peers For end note descriptions, see end note summary starting on page 40 Top Workplace in Financial Services Recognized by Energage in 2022 Perfect 100% Score Human Rights Campaign Corporate Equity index for seventh consecutive year For Express Banking account Corporate Sustainability Assessment "OUTSTANDING" Received highest overall rating possible on most recent Community Reinvestment Act performance examination from the Office of the Comptroller of Currency, including each of the three tests: Lending, Investment, Service.

© Fifth Third Bancorp | All Rights Reserved 19 Unsecured debt maturities Composition of deposits by segment Holding company: • Holding Company cash as of June 30, 2023: $5.1BN • Cash on hand at Holding Company currently sufficient to satisfy all fixed obligations for ~24 months (debt maturities, common and preferred dividends, interest, and other expenses) • The Holding Company did not issue long-term in 2Q23 • $0.5BN of Holding Company debt matured in 2Q23 Bank entity: • Available and contingent borrowing capacity (2Q23): ◦ FHLB ~$9.5BN available, ~$16.3BN total ◦ Federal Reserve Discount Window ~$42.8BN ◦ Federal Reserve BTFP ~$9.3BN Period-end as of 6/30/23 Strong liquidity profile $ millions – excl. Retail Brokered & Institutional CDs

© Fifth Third Bancorp | All Rights Reserved • 64% allocation to bullet/ locked- out cash flow securities • AFS yield: 3.04% 5 • Effective duration of 5.17 6 • Net unrealized pre-tax loss: $6.1BN • 98% AFS 11 $25.2BN fixed 3 | $51.2BN variable 1,2 Commercial loans 1,2,3 Balance sheet positioning 100% Fix | 1% Variable 85% Fix | 15%Variable Investment portfolioConsumer loans 1 Long-term debt 4 $38.3BN fixed | $7.2BN variable 1 $6.4BN fixed | $5.9BN variable 4 • 1M based: 44% 7,12 • 3M based: 7% 7,12 • Prime & O/N based: 15% 7,12 • Other based: 2% 7,10,12 • Weighted avg. life: 1.9 years 1,3 • 1M based: 1% 8,12 • 12M based: 1% 8,12 • Prime: 11% 8 • Other based: 2% 8,12,13 • Weighted avg. life: 3.9 years 1 • 1M based: 0% 9 • 3M based: 0% 9 • SOFR based: 47% • Weighted avg. life: 4.5 years C&I 28% Fix | 72% Variable Coml. mortgage 43% Fix | 57% Variable Coml. lease 100% Fix | 0% Variable Resi mtg.& construction 91% Fix | 9% Variable Home equity 8% Fix | 92% Variable Senior debt 46% Fix | 54% Variable Sub debt 70% Fix | 30% Variable Auto securiz. proceeds 100% Fix | 0% Variable Coml. construction 27% Fix | 73% Variable Credit card 41% Fix | 59% Variable Other 83% Fix | 17% Variable Other 86% Fix | 14% Variable Level 1 56% Fix | 4% Variable Level 2A Non-HQLA/ Other • The information above incorporates the impact of $12BN in active cash flow hedges ($8BN in C&I receive-fixed swaps and $4BN in CRE receive-fixed swaps) and ~$6BN fair value hedges associated with long-term debt (receive-fixed swaps). • The impacts of PPP loans (given the expected temporary nature) are excluded Includes $5BN non-agency CMBS (All super-senior, AAA-rated securities; 57.8% WA LTV, ~38% WA credit enhancement) Auto/Indirect 100% Fix | 0% Variable For end note descriptions, see end note summary starting on page 40; totals shown above may not foot due to rounding 20

© Fifth Third Bancorp | All Rights Reserved 21 Office represents 1.3% of total loans Office CRE portfolio stats $ billions $ balance % of total loans Multifamily $3.1 2.5% Office 1.6 1.3 Hospitality 1.5 1.2 Retail 1.2 1.0 Industrial 1.1 0.9 Other 2.0 1.6 Total non-owner occupied CRE $10.5 8.5% As of 6/30/23; CRE is non-owner occupied Limited office CRE exposure with strong credit quality Office 1.3% Other CRE 7.2% Average loan commitment $9.7 million NCOs / average loans (LTM) (0.01)% Delinquencies / loans 0.01% NPL / loans 0.2% Criticized loans / loans 7.2% As of 2Q23; Non-owner occupied Total Bancorp loans $123BN • Office CRE of $1.6B represents 1.3% of total loans • LTV range of 55 – 60% at origination; focus on disciplined regional and national clients with longstanding relationships • Average commit of $9.7MM; conservative underwriting limiting amount of credit extended • Currently not pursuing new Office CRE originations Additional non-owner occupied office CRE metrics

© Fifth Third Bancorp | All Rights Reserved 22 Investment portfolio composition Total securities portfolio CMBS portfolio is AAA-rated Total securities portfolio $55B ~29% of interest earning assets Agency CMBS • $29BN portfolio • ~86% in Fannie/Freddie deals risk weighted at 20% and remaining ~14% are GNMA and risk weighted at 0% • Same financial backing as a standard GSE residential MBS deal; unconditional government guarantee for GNMA and implicit government guarantee for Fannie and Freddie Non-agency CMBS • $5BN portfolio • All positions are super-senior AAA rated with 38% credit enhancements • Securities are 20% risk-weighted and are pledgeable to the FHLB • Underlying loans in our structures have a WA LTV of ~60% • Our credit risk team analyzes transactions at the underlying property- level, similar to what we do for all our CRE loan commitments • Leverage analytical tools with over 40+ years of historical data to stress the securities at an individual property level on a recurring basis, including significant market distress in real estate valuations. Non- agency CMBS 9% Agency CMBS 53% AFS portfolio; amortized cost basis; as of 6/30/23

© Fifth Third Bancorp | All Rights Reserved Managing rate risk against conservative outcomes Estimated NII sensitivity profile and ALCO policy limits Estimated NII sensitivity at specific betas Rate Risk models assume approximately 70-75% effective up betas and 60-65% down betas in our baseline NII sensitivity used in IRR simulations 1,2 •Models are calibrated to performance in prior rate cycles •Cycle to date, we have outperformed modeled betas •Additionally, rate risk measures assume no deposit re-pricing lags and $800BN of DDA runoff per 100 bps of rate hikes As of June 30, 2023: •48% of HFI loans were variable rate net of existing hedges (67% of total commercial; 16% of total consumer) 3 •Short-term borrowings represent only 3% of total funding •Approximately $9.9BN billion in non-core funding matures beyond one year 23 % Change NII (FTE) ALCO policy limit Change in interest rates (bps) 12 months 13 to 24 months 12 months 13 to 24 months +200 Ramp over 12 months (3.9%) (5.7%) (4.0%) (6.0%) +100 Ramp over 12 months (1.9%) (2.8%) NA NA -100 Ramp over 12 months 0.9% 0.6% NA NA -200 Ramp over 12 months 1.5% 0.5% (8.0%) (12.0%) 5% Higher Beta 5% Lower Beta Change in interest rates (bps) 12 months 13 to 24 months 12 months 13 to 24 months +200 Ramp over 12 months (4.4%) (6.6%) (3.0%) (4.1%) +100 Ramp over 12 months (2.2%) (3.2%) (1.5%) (2.0%) Estimated NII sensitivity with demand deposit balance changes % Change in NII (FTE) $1BN balance decline $1BN balance increase Change in interest rates (bps) 12 months 13 to 24 months 12 months 13 to 24 months +200 Ramp over 12 months (5.0%) (6.9%) (2.8%) (4.6%) +100 Ramp over 12 months (2.9%) (3.8%) (0.9%) (1.8%) -100 Ramp over 12 months 0.1% 0.0% 1.7% 1.3% -200 Ramp over 12 months 0.8% 0.0% 2.3% 1.0% For end note descriptions, see end note summary starting on page 40

© Fifth Third Bancorp | All Rights Reserved Cash flow hedges to protect NIM in a down-rate scenario ($3BN @ 2.25% 1- month LIBOR strike) 2 Floors and receive-fixed swaps continue to protect NIM 1 EOP notional value of cash flow hedges ($ in billions) Actual For end note descriptions, see end note summary starting on page 40 Swap protection extends through 2031 ~$125MM uplift in 2025 vs. 2023 regardless of rate environment 24 Floors Forward starting receive- fixed swaps 3 Existing receive-fixed swaps 4 weighted average receive fixed rate (swaps only) 2.37% 2.37% 3.32%2.34% 2.34%2.34% 2.35% 2.50% 3.17% 3.19% 3.27% 3.29% 3.44% 5

© Fifth Third Bancorp | All Rights Reserved Mortgage banking results $ in millions Mortgage banking net revenue Mortgage originations and margins • Mortgage banking net revenue decreased $10 million from the prior quarter, primarily reflecting an increase in MSR asset decay and a decrease in MSR net valuation adjustments • $1.7 billion in originations, up 17% from the prior quarter and down 55% compared to the year-ago quarter; ~85% purchase volume Note: totals shown above may not foot due to rounding $ in billions 0.84% 0.85% 0.95% 0.80% 0.74% 0.86%Gain-on-sale margin Gain-on-sale margin represents gains on all loans originated for sale divided by salable originations. Rate lock margin Rate lock margin represents gains recorded associated with salable rate locks divided by salable rate locks. 1.05% 1.21% 25 $31 $69 $63 $69 Mortgage banking net revenue $59 1.52% 1.71%

© Fifth Third Bancorp | All Rights Reserved Estimated potential GAAP noninterest income recognition 1,2 $ in millions; pre-tax For end note descriptions, see end note summary starting on page 40 Future TRA payment schedule 26

© Fifth Third Bancorp | All Rights Reserved Preferred dividend schedule 3Q23 4Q23 1Q24 2Q24 Series H ~$13 ~$13 ~$13 ~$13 Series I ~$8 ~$8 ~$11 ~$11 Series J ~$7 ~$7 ~$7 ~$7 Series K ~$3 ~$3 ~$3 ~$3 Series L ~$4 ~$4 ~$4 ~$4 Class B Series A ~$3 ~$3 ~$3 ~$3 Total ~$37 ~$37 ~$40 ~$40 Upcoming preferred dividend schedule 1 $ in millions For end note descriptions, see end note summary starting on page 40; totals shown above may not foot due to rounding 27 Floating (3ML + 3.129%) 2 Floating (3ML + 3.033%) 2

© Fifth Third Bancorp | All Rights Reserved 2Q22 1Q23 2Q23 NCO ratio 1 0.19% 0.17% 0.16% 30-89 Delinquencies 0.16% 0.17% 0.16% 90+ Delinquencies 0.01% 0.02% 0.03% Nonperforming Loans 2 0.43% 0.43% 0.45% 28 Portfolio loans and leases $ in billions Period-end QoQ change Average QoQ change Key statistics Total commercial portfolio overview For end note descriptions, see end note summary starting on page 40; totals shown above may not foot due to rounding 4.2% 1.9% 1.4% 0.8% 0.4% 2.9% 1.0% 0.8% 1.1% (1.1%) Period-endAverage

© Fifth Third Bancorp | All Rights Reserved 2Q22 1Q23 2Q23 NCO ratio 1 0.24% 0.21% 0.22% 30-89 Delinquencies 0.19% 0.17% 0.13% 90+ Delinquencies 0.01% 0.03% 0.01% Nonperforming Loans 2 0.48% 0.49% 0.57% 29 Portfolio loans $ in billions Period-end QoQ change Average QoQ change Key statistics Revolving Line Utilization Trend 3 Commercial & industrial overview For end note descriptions, see end note summary starting on page 40; totals shown above may not foot due to rounding 5.5% 2.1% 1.8% 0.9% —% 4.1% 0.6% 1.4% 0.9% (1.4%) Period-endAverage

© Fifth Third Bancorp | All Rights Reserved 2Q22 1Q23 2Q23 NCO ratio 1 0.07% 0.04% 0.00% 30-89 Delinquencies 0.07% 0.04% 0.17% 90+ Delinquencies 0.00% 0.00% 0.12% Nonperforming Loans 2 0.30% 0.29% 0.13% Commercial real estate overview CRE Mortgage Balance by occupancy CRE Construction Balance by property type Portfolio loans Key statistics Period-end QoQ change Average QoQ change For end note descriptions, see end note summary starting on page 40; totals shown above may not foot due to rounding $ in billions (0.1%) 2.6% (0.4%) 2.0% 0.1% 1.1% 1.5% 0.8% 1.1% 1.7% Multifamily Other Retail Hospitality Office Industrial Home Builder Non-Owner Occupied Owner Occupied Multifamily 20% Office 20% Hospitality 19% Retail 18% Industrial 6% Other 17% Non-owner occupied property type mix 30

© Fifth Third Bancorp | All Rights Reserved 2Q22 1Q23 2Q23 NCO ratio 1 0.24% 0.42% 0.50% 30-89 Delinquencies 0.40% 0.44% 0.48% 90+ Delinquencies 0.07% 0.06% 0.05% Nonperforming Loans 2 0.50% 0.57% 0.62% Weighted average FICO at origination 3 765 765 765 Weighted average LTV at origination 78% 78% 78% Total consumer portfolio overview 31 Portfolio FICO score at origination 3 $ in billions Portfolio loans Key statistics Period-end QoQ change Average QoQ change For end note descriptions, see end note summary starting on page 40; totals shown above may not foot due to rounding 3.0% 1.3% 1.5% 1.9% 0.5% 2.0% 1.0% 2.0% 1.2% (0.2%) 750+720-749<660 660-719 2% Period-endAverage

© Fifth Third Bancorp | All Rights Reserved 2Q22 1Q23 2Q23 NCO ratio 1 (0.02%) 0.00% 0.00% 30-89 Delinquencies 0.09% 0.10% 0.11% 90+ Delinquencies 0.05% 0.05% 0.04% Nonperforming Loans 2 0.60% 0.73% 0.78% Weighted average FICO at origination 3 765 764 764 Weighted average LTV at origination 71% 71% 71% Residential Mortgage overview 32 Portfolio FICO score at origination 3 $ in billions Portfolio loans Key statistics Period-end QoQ change Average QoQ change For end note descriptions, see end note summary starting on page 40; totals shown above may not foot due to rounding 5.2% 1.5% (0.2%) — (0.4%) 2.5% 0.2% 0.2% (0.1%) (0.6%) 750+720-749<660 660-719 4% Period-endAverage

© Fifth Third Bancorp | All Rights Reserved 2Q22 1Q23 2Q23 NCO ratio 1 (0.06%) (0.04%) 0.06% 30-89 Delinquencies 0.56% 0.58% 0.61% 90+ Delinquencies 0.05% 0.03% 0.03% Nonperforming Loans 2 1.84% 1.72% 1.56% Weighted average FICO at origination 3 765 767 767 Weighted average LTV at origination 68% 67% 67% Home equity overview 33 Portfolio FICO score at origination 3 $ in billions Portfolio balances Key statistics Period-end QoQ change Average QoQ change For end note descriptions, see end note summary starting on page 40; totals shown above may not foot due to rounding (2.8%) 1.6% 1.7% (0.5%) (1.7%) (0.3%) 2.4% 1.0% (2.0%) (1.2%) 750+720-749<660 660-719 2% Period-endAverage

© Fifth Third Bancorp | All Rights Reserved 2Q22 1Q23 2Q23 NCO ratio 1 0.13% 0.34% 0.38% 30-89 Delinquencies 0.59% 0.67% 0.76% 90+ Delinquencies 0.05% 0.00% 0.00% Nonperforming Loans 2 0.11% 0.16% 0.14% Indirect secured consumer overview 34 Portfolio FICO score at origination Includes primarily RV & Marine $ in billions Portfolio loans Key statistics Period-end QoQ change Average QoQ change For end note descriptions, see end note summary starting on page 40; totals shown above may not foot due to rounding 1% 0.6% (2.8%) (1.3%) 0.4% (1.9%) (2.3%) (2.2%) (0.6%) (0.4%) (2.3%) 750+720-749<660 660-719 Period-endAverage Weighted average FICO at origination 3 767 767 768 Weighted average LTV at origination 88% 88% 88%

© Fifth Third Bancorp | All Rights Reserved 2Q22 1Q23 2Q23 NCO ratio 1 3.26% 3.43% 3.61% 30-89 Delinquencies 0.96% 1.02% 1.10% 90+ Delinquencies 0.74% 1.02% 0.94% Nonperforming Loans 2 1.30% 1.65% 1.65% Credit card overview 35 Portfolio FICO score at origination 3 750+720-749<660 660-719 $ in billions Portfolio loans Key statistics Period-end QoQ change Average QoQ change For end note descriptions, see end note summary starting on page 40; totals shown above may not foot due to rounding 0.8% 3.1% 2.2% (0.8%) 0.2% 4.3% 0.4% 5.9% (6.0%) 3.2% Weighted average FICO at origination 3 742 743 742 4% Period-endAverage

© Fifth Third Bancorp | All Rights Reserved 2Q22 3Q22 4Q22 1Q23 2Q23 Balance, beginning of period $323 $319 $298 $263 $334 Transfers to nonaccrual status 49 91 68 121 185 Transfers to accrual status — — (5) (1) (58) Transfers to held for sale — (19) — — (4) Loan paydowns/payoffs (17) (48) (63) (22) (77) Transfer to OREO — — — — — Charge-offs (37) (47) (36) (33) (35) Draws/other extensions of credit 1 2 1 6 — Balance, end of period $319 $298 $263 $334 $345 2Q22 3Q22 4Q22 1Q23 2Q23 Balance, beginning of period $211 $220 $224 $252 $259 Transfers to nonaccrual status 64 56 83 99 122 Transfers to accrual status (29) (22) (19) (33) (30) Transfers to held for sale — — — — — Loan paydowns/payoffs (20) (20) (19) (22) (23) Transfer to OREO (1) (1) (3) (5) (4) Charge-offs (6) (10) (15) (33) (41) Draws/other extensions of credit 1 1 1 1 1 Balance, end of period $220 $224 $252 $259 $284 NPL 1 Rollforward Commercial Consumer $ in millions $ in millions $ in millions For end note descriptions, see end note summary starting on page 40 36 Total NPL $539 $522 $515 $593 $629 Total new nonaccrual loans - HFI $113 $147 $151 $220 $307 Total NPL

© Fifth Third Bancorp | All Rights Reserved 2Q23 adjustments and notable items Adjusted EPS of $0.87 1 2Q23 reported EPS of $0.82 included a negative $0.05 impact from the following notable items: • $30 million pre-tax (~$23 million after-tax 2 ) charge related to the valuation of the Visa total return swap • $12 million pre-tax (~9 million after-tax 2 ) charge related to restructuring severance expense For end note descriptions, see end note summary starting on page 40 37

© Fifth Third Bancorp | All Rights Reserved For end note descriptions, see end note summary starting on page 40; totals shown above may not foot due to rounding 38 Fifth Third Bancorp and Subsidaries For the Three Months Ended $ and shares in millions June March December September June (unaudited) 2023 2023 2022 2022 2022 Net income (U.S. GAAP) (a) $601 $558 $737 $653 $562 Net income (U.S. GAAP) (annualized) (b) $2,411 $2,263 $2,924 $2,591 $2,254 Net income available to common shareholders (U.S. GAAP) (c) $562 $535 $699 $631 $526 Add: Intangible amortization, net of tax 8 9 10 10 9 Tangible net income available to common shareholders (d) $570 $544 $709 $641 $535 Tangible net income available to common shareholders (annualized) (e) $2,286 $2,206 $2,813 $2,543 $2,146 Net income available to common shareholders (annualized) (f) $2,254 $2,170 $2,773 $2,503 $2,110 Average Bancorp shareholders' equity (U.S. GAAP) (g) $18,344 $17,977 $16,857 $18,864 $19,248 Less: Average preferred stock (h) (2,116) (2,116) (2,116) (2,116) (2,116) Average goodwill (4,919) (4,915) (4,925) (4,926) (4,744) Average intangible assets and other servicing rights (152) (163) (176) (188) (158) Average tangible common equity (i) $11,157 $10,783 $9,640 $11,634 $12,230 Less: Average accumulated other comprehensive income ("AOCI") 4,480 4,442 5,386 3,037 2,397 Average tangible common equity, excluding AOCI (j) $15,637 $15,225 $15,026 $14,671 $14,627 Adjustments (pre-tax items) Valuation of Visa total return swap 30 31 38 17 18 Restructuring severance expense 12 12 — — — Branch impairment charges — — 6 — — Net disposition charges/(gain) — — — — 6 Adjustments - after-tax 1 (k) $32 $33 $34 $13 $19 Adjustments (tax related items) Tax benefit associated with resolution of certain acquisition related tax matters — — (15) — — Adjustments (tax related items) (l) — — (15) — — Adjusted net income [(a) + (k)+ (l)] $633 $591 $756 $666 $581 Adjusted net income (annualized) (m) $2,539 $2,397 $2,999 $2,642 $2,330 Adjusted net income available to common shareholders [(c) + (k) + (l)] $594 $568 $718 $644 $545 Adjusted net income available to common shareholders (annualized) (n) $2,383 $2,306 $2,849 $2,555 $2,186 Adjusted tangible net income available to common shareholders [(d) + (k) + (l)] 602 $577 $728 $654 $554 Adjusted tangible net income available to common shareholders (annualized) (o) $2,415 $2,340 $2,888 $2,595 $2,222 Average assets (p) $206,079 $205,084 $206,017 $206,688 $205,897 Metrics: Return on assets (b) / (p) 1.17% 1.10% 1.42% 1.25% 1.09% Adjusted return on assets (m) / (p) 1.23% 1.17% 1.46% 1.28% 1.13% Return on average common equity (f) / [(g) + (h)] 13.9% 13.7% 18.8% 14.9% 12.3% Adjusted return on average common equity (n) / [(g) + (h)] 14.7% 14.5% 19.3% 15.3% 12.8% Return on average tangible common equity (e) / (i) 20.5% 20.5% 29.2% 21.9% 17.5% Adjusted return on average tangible common equity (o) / (i) 21.6% 21.7% 30.0% 22.3% 18.2% Adjusted return on average tangible common equity, excluding AOCI (o) / (j) 15.4% 15.4% 19.2% 17.7% 15.2% Non-GAAP reconciliation

© Fifth Third Bancorp | All Rights Reserved Non-GAAP reconciliation For end note descriptions, see end note summary starting on page 40; totals shown above may not foot due to rounding 39 Fifth Third Bancorp and Subsidiaries For Three Months Ended $ and shares in millions June March December September June (unaudited) 2023 2023 2022 2022 2022 Average interest-earning assets (a) $189,060 $187,407 $187,640 $185,378 $184,406 Net interest income (U.S. GAAP) (b) $1,457 $1,517 $1,577 $1,498 $1,339 Add: Taxable equivalent adjustment 6 5 5 4 3 Net interest income (FTE) (c) $1,463 $1,522 $1,582 $1,502 $1,342 Net interest income (FTE) (annualized) (d) $5,868 $6,173 $6,276 $5,959 $5,383 Noninterest income (U.S. GAAP) (e) $726 $696 $735 $672 $676 Valuation of Visa total return swap 30 31 38 17 18 Branch impairment charges — — 6 — — Net disposition charges/(gain) — — — — 6 Adjusted noninterest income (f) $756 $727 $779 $689 $700 Add: Securities (gains)/losses (7) (4) (2) 38 32 Adjusted noninterest income, (excl. securities (gains)/losses) $749 $723 $777 $727 $732 Noninterest expense (U.S. GAAP) (g) $1,231 $1,331 $1,218 $1,167 $1,112 Restructuring severance expense (12) (12) — — — Adjusted noninterest expense (h) $1,219 $1,319 $1,218 $1,167 $1,112 Metrics: Revenue (FTE) (c) + (e) 2,189 2,218 2,317 2,174 2,018 Adjusted revenue (c) + (f) 2,219 2,249 2,361 2,191 2,042 Pre-provision net revenue [(c) + (e) - (g)] 958 887 1,099 1,007 906 Adjusted pre-provision net revenue [(c) + (f) - (h)] 1,000 930 1,143 1,024 930 Net interest margin (FTE) (d) / (a) 3.10% 3.29% 3.35% 3.22% 2.92% Efficiency ratio (FTE) (g) / [(c) + (e)] 56.2% 60.0% 52.6% 53.7% 55.1% Adjusted efficiency ratio (h) / [(c) + (f)] 54.9% 58.6% 51.6% 53.3% 54.5%

© Fifth Third Bancorp | All Rights Reserved Slide 3 end notes 1. Reported ROTCE, NIM, pre-provision net revenue, and efficiency ratio are non-GAAP measures: all adjusted figures are non-GAAP measures; see reconciliation on pages 38 and 39 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 38 and 39 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 38 and 39 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 38 and 39 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. Insured by FDIC product type Slide 10 end notes 1. Excludes HFS loans. Slide 11 end notes 1. 2Q23 commercial and consumer portfolio make up ~$126M and ~$82M, respectively, of the total reserve for unfunded commitment. Slide 12 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. 3. Analysis based on 6/30/2023 portfolio utilizing the implied forward curve as of 7/3/2023 Slide 13 & 14 end notes 1. Non-GAAP measure: see forward-looking statements on page 2 of this presentation regarding forward-looking non-GAAP measures and use of non-GAAP measures on pages 27-29 of the earnings release. 40 Earnings presentation end notes

© Fifth Third Bancorp | All Rights Reserved Slide 17 end notes Data is for fiscal year 2022, unless otherwise noted. 1. Data is through 3/31/2023 2. Three-year $2.8BN commitment to Accelerate Racial Equity, Equality and Inclusion initiative timeframe is from 1/1/21 - 12/31/23 3. Data is through 4/30/2023; Three-year $180MM Empowering Black Futures Neighborhood Investment Program is from 6/1/21 - 5/31/24 4. 9/23/2020 - 3/31/2022. The Environmental and Social Risk Management Framework (previously Environmental and Social Policy) can be found at ir.53.com/esg/environment 5. Data is as of 7/12/23, in terms of ethnicity or gender 6. For Scope 1, Scope 2 and business travel under Scope 3 emissions. Final CO2e emissions will be made available in 2023 following independent verification. 7. Sustainable Bond Report can be found at https://ir.53.com/esg/Sustainable-Bonds 8. Refer to the 2022 ESG report for additional details on methodology Slide 18 end notes 1. Peer Group comprises of Fifth Third's board approved peers. 2. From leading third party ESG data provider. Slide 20 end notes Note: Data as of 6/30/2023. 1. Excludes HFS Loans & Leases. 2. Fifth Third had $12B of commercial variable loans classified as fixed given the impacts of $8BN in C&I receive-fix swaps and $4BN in CRE receive-fix swaps; Excludes forward starting swaps & floors; Excludes$3BN in out-of-the-money floors with a 2.25% 1ML strike currently on the balance sheet. 3. Excludes ~$0.03BN in Small Business Administration Paycheck Protection Program (PPP) loans. 4. Fifth Third had $5.95BN SOFR receive-fix swaps outstanding against long-term debt, which are being included in floating long-term debt. 5. Yield of the 2Q23 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 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 6/30/23; actual results may vary from these simulated results due to differences between forecasted and actual balance sheet composition, timing, magnitude, and frequency of interest rate changes, as well as other changes in market conditions and management strategies. 1. Re-pricing percentage or “beta” is the estimated change in yield after the 12-month ramp scenarios are fully realized and therefore reflects year-2. 2. Betas are asymmetrical as down betas assume floors 3. Excludes ~$0.03BN 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 2. Effective July 1, 2023 the rate index transitioned from 1-month LIBOR to compound SOFR + 11.448 bps 3. Forward starting swaps are receive fixed / pay compound SOFR + 11.448 bps 4. Existing swaps transition from receive fixed / pay 1-month LIBOR to receive fixed / pay compound SOFR + 11.448 bps on their next post-LIBOR cessation resets 5. $3BN floors mature on 12/16/2024. Earnings presentation end notes 41

© Fifth Third Bancorp | All Rights Reserved 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. Represents forward looking statement, please refer to page 2 of this presentation regarding forward-looking non-GAAP measures 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 the Series J and Series H reflect the applicable benchmark index (3m LIBOR for 3Q23 and 3m Term SOFR thereafter) plus the applicable spread. Series I pays a fixed rate of interest of 6.625% until it converts to floating rates using 3m Term SOFR on 12/31/2023. For the periods referencing 3m Term SOFR, the projections include the 26.161bps spread adjustment pursuant to the final rule adopted by the Federal Reserve. Slide 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. 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. 3. Total commercial portfolio line utilization. Slide 30 end notes 1. Net losses charged-off as a percent of average portfolio loans and leases presented on an annualized basis. 2. Nonperforming portfolio loans and leases as a percent of portfolio loans and leases. Slide 31 end notes 1. Net losses charged-off as a percent of average portfolio loans and leases presented on an annualized basis. 2. Nonperforming portfolio loans and leases as a percent of portfolio loans and leases. 3. FICO distributions at origination exclude certain acquired mortgage & home equity loans, and ~$80 million of credit loans on book primarily ~15+ years. 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. 3. FICO distributions at origination exclude certain acquired mortgage loans. Slide 33 end notes 1. Net losses charged-off as a percent of average portfolio loans and leases presented on an annualized basis. 2. Nonperforming portfolio loans and leases as a percent of portfolio loans and leases. 3. FICO distributions at origination exclude certain acquired home equity loans. Slide 34 end notes 1. Net losses charged-off as a percent of average portfolio loans and leases presented on an annualized basis. 2. Nonperforming portfolio loans and leases as a percent of portfolio loans and leases. 42 Earnings presentation end notes

© Fifth Third Bancorp | All Rights Reserved Slide 35 end notes 1. Net losses charged-off as a percent of average portfolio loans and leases presented on an annualized basis. 2. Nonperforming portfolio loans and leases as a percent of portfolio loans and leases. 3. FICO distributions at origination exclude ~$80 million from credit loans on book primarily ~15+ years. Slide 36 end notes 1. Loan balances exclude nonaccrual loans HFS. Slide 37 end notes 1. Average diluted common shares outstanding (thousands); 686,386; all adjusted figures are non-GAAP measures; see reconciliation on pages 38 and 39 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 38 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 39 end notes Note: See pages 27-29 of the earnings release for a discussion on the use of non-GAAP financial measures. 43 Earnings presentation end notes


						FIFTH THIRD BANCORP
						(Registrant)

Date: July 20, 2023						/s/ James C. Leonard

						James C. Leonard
						Executive Vice President and Chief Financial Officer