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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported): October 18, 2024
53_Logo_horizontal_FullColor.jpg
Fifth Third Bancorp
(Exact name of registrant as specified in its charter)
Ohio 001-33653 31-0854434
(State or other jurisdiction
of incorporation)		 (Commission
File Number)		 (IRS Employer
Identification No.)
Fifth Third Center
38 Fountain Square Plaza,Cincinnati,Ohio45263
(Address of Principal Executive Offices)(Zip Code)
(800) 972-3030
(Registrant's telephone number, including area code)

Not Applicable
(Former name or former address, if changed since last report)

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

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

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

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

    ☐    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class Trading
Symbol(s)		 Name of each exchange
on which registered
Common Stock, Without Par Value FITB The NASDAQ Stock Market LLC
Depositary Shares Representing a 1/1000th Ownership Interest in a Share of 6.625% Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series I FITBI The NASDAQ Stock Market LLC
Depositary Shares Representing a 1/40th Ownership Interest in a Share of 6.00% Non-Cumulative Perpetual Class B Preferred Stock, Series A FITBP The NASDAQ Stock Market LLC
Depositary Shares Representing a 1/1000th Ownership Interest in a Share of 4.95% Non-Cumulative Perpetual Preferred Stock, Series K FITBO The NASDAQ Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company    ☐            

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐


Item 2.02    Results of Operations and Financial Condition.

On October 18, 2024, Fifth Third Bancorp issued a press release announcing its earnings release for the third quarter of 2024. A copy of this press release is attached as Exhibit 99.1. This information is furnished under both Item 2.02 Results of Operations and Financial Condition and Item 7.01 Regulation FD Disclosure.

The information in this Item 2.02 of Form 8-K and Exhibits attached hereto shall not be deemed filed for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall they be deemed incorporated by reference in any filing under the Securities Exchange Act of 1934 or the Securities Act of 1933, except as shall be expressly set forth by specific reference.

Item 7.01    Regulation FD Disclosure.

On October 18, 2024, Fifth Third Bancorp issued a press release announcing its earnings release for the third quarter of 2024. A copy of this press release is attached as Exhibit 99.1. This information is furnished under both Item 2.02 Results of Operations and Financial Condition and Item 7.01 Regulation FD Disclosure.

For the benefit of its investors, Fifth Third Bancorp is also furnishing a presentation regarding its earnings conference call. A copy of this item is attached as Exhibit 99.2.

The information in this Item 7.01 of Form 8-K and Exhibits attached hereto shall not be deemed filed for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall they be deemed incorporated by reference in any filing under the Securities Exchange Act of 1934 or the Securities Act of 1933, except as shall be expressly set forth by specific reference.

Item 9.01    Financial Statements and Exhibits

Exhibit 99.1 – Press release dated October 18, 2024

Exhibit 99.2 – Third Quarter 2024 Earnings Presentation

Exhibit 104 – Cover Page Interactive Data File (embedded within the Inline XBRL document)


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 FIFTH THIRD BANCORP
 (Registrant)
   
Date: October 18, 2024
 /s/ Bryan D. Preston
   
 Bryan D. Preston
 Executive Vice President and
Chief Financial Officer




a53_logoxhorizontalxfullco.jpg

Fifth Third Bancorp Reports Third Quarter 2024 Diluted Earnings Per Share of $0.78
Fee income growth and resilient balance sheet leads to another quarter of strong returns
Reported results included a negative $0.07 impact from certain items on page 2
Key Financial DataKey Highlights
$ in millions for all balance sheet and income statement items
3Q24
2Q24
3Q23
         Stability:
•Sequential growth in net interest income and net interest margin driven by the repricing benefit on fixed rate loan portfolio and moderating deposit costs
•Strong profitability resulted in CET1 increasing to 10.75% while executing a $200 million share repurchase and raising common stock dividend by 6%
•Loan-to-core deposit ratio of 71%
    Profitability:
•Disciplined expense management; efficiency ratio(a) of 58.2%; adjusted efficiency ratio(a) of 56.1% improved 70 bps sequentially
•Interest-bearing liabilities costs down 1 bp from 2Q24
    Growth:
•Strong fee performance driven by strategic investments. Compared to 3Q23:
•Wealth & asset management revenue up 12%
•Commercial payments revenue up 10%
•Capital markets fees up 9%
•Generated consumer household growth of 3% compared to 3Q23
Income Statement Data
Net income available to common shareholders$532$561$623
Net interest income (U.S. GAAP)1,4211,3871,438
Net interest income (FTE)(a)
1,4271,3931,445
Noninterest income711695715
Noninterest expense1,2441,2211,188
Per Share Data
Earnings per share, basic$0.78$0.82$0.91
Earnings per share, diluted0.780.810.91
Book value per share27.6025.1321.19
Tangible book value per share(a)
20.2017.7513.76
Balance Sheet & Credit Quality
Average portfolio loans and leases$116,826$116,891$121,630
Average deposits167,196167,194165,644
Accumulated other comprehensive loss(3,446)(4,901)(6,839)
Net charge-off ratio(b)
0.48%0.49%0.41%
Nonperforming asset ratio(c)
0.620.550.51
Financial Ratios
Return on average assets1.06%1.14%1.26%
Return on average common equity11.713.616.3
Return on average tangible common equity(a)
16.319.824.7
CET1 capital(d)(e)
10.7510.629.80
Net interest margin(a)
2.902.882.98
Efficiency(a)
58.258.555.0
Other than the Quarterly Financial Review tables beginning on page 14, commentary is on a fully taxable-equivalent (FTE) basis unless otherwise noted. Consistent with SEC guidance in Regulation S-K that contemplates the calculation of tax-exempt income on a taxable-equivalent basis, net interest income, net interest margin, net interest rate spread, total revenue and the efficiency ratio are provided on an FTE basis.
From Tim Spence, Fifth Third Chairman, CEO and President:
Fifth Third achieved another quarter of strong and consistent performance driven by our resilient balance sheet, diversified and growing revenue streams, and disciplined expense management. With our strong core deposit franchise and liquidity, we are well positioned for the declining interest rate environment and volatility driven by the economic and regulatory uncertainty.

Our strategic growth priorities continue to deliver strong results. In the Southeast, where we are expanding into high-growth markets, deposits grew by 16% over the last twelve months. We generated record revenue in our Wealth & Asset Management business and assets under management grew 21% year-over-year to $69 billion. Our Commercial Payments revenue grew 10% compared to the year-ago quarter, with Newline adding industry leaders to its customer base.

Our strong and stable returns on capital allowed us to raise our common stock dividend by 6%, execute a $200 million share repurchase, and grow our tangible book value per share, ex. AOCI by 6% in the past year.

We remain well-positioned to generate long-term, sustainable value to our shareholders as we adhere to our guiding principles of stability, profitability, and growth – in that order.
Investor contact: Matt Curoe (513) 534-2345 | Media contact: Jennifer Hendricks Sullivan (614) 744-7693 October 18, 2024

Income Statement Highlights
($ in millions, except per share data)For the Three Months Ended% Change
SeptemberJuneSeptember
202420242023SeqYr/Yr
Condensed Statements of Income
Net interest income (NII)(a)
$1,427$1,393$1,4452%(1)%
Provision for credit losses1609711965%34%
Noninterest income7116957152%(1)%
Noninterest expense1,2441,2211,1882%5%
Income before income taxes(a)
$734$770$853(5)%(14)%
Taxable equivalent adjustment$6$6$7—(14)%
Applicable income tax expense155163186(5)%(17)%
Net income$573$601$660(5)%(13)%
Dividends on preferred stock4140373%11%
Net income available to common shareholders$532$561$623(5)%(15)%
Earnings per share, diluted$0.78$0.81$0.91(4)%(14)%
Fifth Third Bancorp (NASDAQ®: FITB) today reported third quarter 2024 net income of $573 million compared to net income of $601 million in the prior quarter and $660 million in the year-ago quarter. Net income available to common shareholders in the current quarter was $532 million, or $0.78 per diluted share, compared to $561 million, or $0.81 per diluted share, in the prior quarter and $623 million, or $0.91 per diluted share, in the year-ago quarter.

Diluted earnings per share impact of certain item(s) - 3Q24
(after-tax impact(f); $ in millions, except per share data)
Restructuring severance expense$(7)
Interchange litigation matters
       Valuation of Visa total return swap (noninterest income)$(36)
       Mastercard litigation (noninterest expense)(8)
subtotal(44)
After-tax impact(f) of certain items
$(51)
Diluted earnings per share impact of certain item(s)1
$(0.07)
Totals may not foot due to rounding; 1Diluted earnings per share impact reflects 686.109 million average diluted shares outstanding


2

Net Interest Income
(FTE; $ in millions)(a)
For the Three Months Ended% Change
SeptemberJuneSeptember
202420242023SeqYr/Yr
Interest Income
Interest income$2,675 $2,626 $2,536 2%5%
Interest expense1,2481,2331,0911%14%
Net interest income (NII)$1,427 $1,393 $1,445 2%(1)%
NII excluding certain items(a)
$1,427$1,398$1,4452%(1)%
Average Yield/Rate Analysisbps Change
Yield on interest-earning assets5.43 %5.43 %5.23 %—20
Rate paid on interest-bearing liabilities3.38 %3.39 %3.10 %(1)28
Ratios
Net interest rate spread2.05 %2.04 %2.13 %1(8)
Net interest margin (NIM)2.90 %2.88 %2.98 %2(8)
NIM excluding certain items(a)
2.90 %2.89 %2.98 %1(8)
Compared to the prior quarter, NII increased $34 million. Excluding the $5 million reduction related to the customer remediations in the prior quarter, NII was up $29 million, or 2%, primarily reflecting higher loan yields, the benefit of higher day count, and lower wholesale funding costs, partially offset by lower average commercial loan balances. Compared to the prior quarter, NIM increased 2 bps. Excluding the aforementioned customer remediations in the prior quarter, NIM increased 1 bp, primarily reflecting higher loan yields from the repricing benefit on the fixed rate loan portfolio, partially offset by the impact of higher cash balances. NIM results continue to be impacted by the decision to carry elevated liquidity given the environment, with the combination of cash and other short-term investments of approximately $25 billion at quarter-end.
Compared to the year-ago quarter, NII decreased $18 million, or 1%, reflecting the impact of the RWA diet lowering average loans by 4% and the deposit mix shift from demand to interest-bearing accounts at higher funding costs, partially offset by higher loan yields. Compared to the year-ago quarter, NIM decreased 8 bps, reflecting the net impact of higher market rates and their effects on deposit pricing and the decision to carry additional cash, partially offset by higher loan yields.

3

Noninterest Income
($ in millions)For the Three Months Ended% Change
SeptemberJuneSeptember
202420242023SeqYr/Yr
Noninterest Income
Service charges on deposits$161$156$1493%8%
Commercial banking revenue16314415413%6%
Mortgage banking net revenue505057—(12)%
Wealth and asset management revenue1631591453%12%
Card and processing revenue106108104(2)%2%
Leasing business revenue43385813%(26)%
Other noninterest income153755(59)%(73)%
Securities gains (losses), net103(7)233%NM
Total noninterest income$711$695$7152%(1)%
Reported noninterest income increased $16 million, or 2%, from the prior quarter, and decreased $4 million, or 1%, from the year-ago quarter. The reported results reflect the impact of certain items in the table below, including the mark-to-market on the valuation of Visa total return swap and securities gains/losses which incorporate mark-to-market impacts from securities associated with non-qualified deferred compensation plans that are more than offset in noninterest expense.
Noninterest Income excluding certain items
($ in millions)For the Three Months Ended
SeptemberJuneSeptember% Change
202420242023SeqYr/Yr
Noninterest Income excluding certain items
Noninterest income (U.S. GAAP)$711 $695 $715 
Valuation of Visa total return swap472310
Legal settlements and remediations—2—
Securities (gains) losses, net(10)(3)7
Noninterest income excluding certain items(a)
$748 $717 $7324%2% 
Noninterest income excluding certain items increased $31 million, or 4%, compared to the prior quarter, and increased $16 million, or 2%, from the year-ago quarter.
Compared to the prior quarter, service charges on deposits increased $5 million, or 3%, reflecting an increase in both consumer deposit fees and commercial payments revenue. Commercial banking revenue increased $19 million, or 13%, primarily reflecting increases in corporate bond fees and institutional brokerage revenue, partially offset by a decrease in client financial risk management revenue. Wealth and asset management revenue increased $4 million, or 3%, primarily driven by increases in personal asset management revenue and brokerage fees. Card and processing revenue decreased $2 million, or 2%, driven by a decrease in interchange revenue. Leasing business revenue increased $5 million, or 13%, primarily driven by an increase in lease remarketing revenue.
Compared to the year-ago quarter, service charges on deposits increased $12 million, or 8%, primarily reflecting an increase in commercial payments revenue. Commercial banking revenue increased $9 million, or 6%, primarily reflecting an increase in corporate bond fees, partially offset by a decrease in client financial risk management revenue. Mortgage banking net revenue decreased $7 million, or 12%, primarily reflecting decreases in MSR net valuation adjustments and mortgage servicing revenue. Wealth and asset management revenue increased $18 million, or 12%, primarily reflecting increases in personal asset management revenue and brokerage fees. Leasing business revenue decreased $15 million, or 26%, primarily reflecting a decrease in operating lease revenue.
4

Noninterest Expense
($ in millions)For the Three Months Ended% Change
SeptemberJuneSeptember
202420242023SeqYr/Yr
Noninterest Expense
Compensation and benefits$690 $656 $629 5%10%
Net occupancy expense818384(2)%(4)%
Technology and communications1211141156%5%
Equipment expense383837—3%
Card and processing expense2221215%5%
Leasing business expense212229(5)%(28)%
Marketing expense263435(24)%(26)%
Other noninterest expense245253238(3)%3%
Total noninterest expense$1,244 $1,221 $1,188 2%5%

Reported noninterest expense increased $23 million, or 2%, from the prior quarter, and increased $56 million, or 5%, from the year-ago quarter. The reported results reflect the impact of certain items in the table below.
Noninterest Expense excluding certain item(s)
($ in millions)For the Three Months Ended% Change
SeptemberJuneSeptember
202420242023SeqYr/Yr
Noninterest Expense excluding certain item(s)
Noninterest expense (U.S. GAAP)$1,244 $1,221 $1,188 
Mastercard litigation(10)——
Restructuring severance expense(9)——
Legal settlements and remediations—(11)—
FDIC special assessment—(6)—
Noninterest expense excluding certain item(s)(a)
$1,225 $1,204 $1,1882%3%

Compared to the prior quarter, noninterest expense excluding certain items increased $21 million, or 2%, primarily reflecting an increase in compensation and benefits expense due to higher performance-based compensation resulting from strong fee revenue, partially offset by a decrease in marketing expense. Noninterest expense in the current quarter included a $12 million expense related to the impact of non-qualified deferred compensation mark-to-market compared to a $4 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 $37 million, or 3%, primarily reflecting increases in compensation and benefits expense as well as technology and communications expense, partially offset by decreases in marketing expense and leasing business expense. The year-ago quarter included a $5 million benefit related to the impact of non-qualified deferred compensation mark-to-market, which was largely offset in net securities losses through noninterest income.
5

Average Interest-Earning Assets
($ in millions)For the Three Months Ended% Change
SeptemberJuneSeptember
202420242023SeqYr/Yr
Average Portfolio Loans and Leases
Commercial loans and leases:
Commercial and industrial loans$51,615 $52,357 $57,001 (1)%(9)%
Commercial mortgage loans11,48811,35211,2161%2%
Commercial construction loans5,9815,9175,5391%8%
Commercial leases2,6852,5752,6164%3%
Total commercial loans and leases$71,769$72,201$76,372(1)%(6)%
Consumer loans:
Residential mortgage loans$17,031$17,004$17,400—(2)%
Home equity4,0183,9293,8972%3%
Indirect secured consumer loans15,68015,37315,7872%(1)%
Credit card1,7081,7281,808(1)%(6)%
Solar energy installation loans3,9903,9163,2452%23%
Other consumer loans2,6302,7403,121(4)%(16)%
Total consumer loans$45,057$44,690$45,2581%—
Total average portfolio loans and leases$116,826 $116,891 $121,630 —(4)%
Average Loans and Leases Held for Sale
Commercial loans and leases held for sale$16$33$17(52)%(6)%
Consumer loans held for sale57335961960%(7)%
Total average loans and leases held for sale$589$392$63650%(7)%
Total average loans and leases$117,415$117,283$122,266—(4)%
Securities (taxable and tax-exempt)$56,707$56,607$56,994—(1)%
Other short-term investments21,71420,60912,9565%68%
Total average interest-earning assets$195,836$194,499$192,2161%2%
Compared to the prior quarter, total average portfolio loans and leases were stable. Average commercial portfolio loans and leases decreased 1%, primarily reflecting a decrease in C&I loans, partially offset by an increase in commercial mortgage loans. Average consumer portfolio loans increased 1%, primarily reflecting increases in indirect secured consumer loans, home equity balances, and solar energy installation loans, partially offset by a decrease in other consumer loans.
Compared to the year-ago quarter, total average portfolio loans and leases decreased 4%. Average commercial portfolio loans and leases decreased 6%, primarily reflecting a decrease in C&I loans. Average consumer portfolio loans were stable primarily reflecting decreases in other consumer loans and residential mortgage loans, offset by increases in solar energy installation loans and home equity balances.
Average securities (taxable and tax-exempt; amortized cost) of $57 billion in the current quarter were stable compared to the prior quarter and decreased 1% compared to the year-ago quarter. Average other short-term investments (including interest-bearing cash) of $22 billion in the current quarter increased 5% compared to the prior quarter and increased 68% compared to the year-ago quarter.
Period-end commercial portfolio loans and leases of $71 billion decreased 1% compared to the prior quarter, primarily reflecting a decrease in C&I loans, partially offset by an increase in commercial leases. Compared to the year-ago quarter, period-end commercial portfolio loans and leases decreased 5%, primarily reflecting a decrease in C&I loans.
6

Period-end consumer portfolio loans of $46 billion increased 2% compared to the prior quarter, primarily reflecting an increase in indirect secured consumer loans. Compared to the year-ago quarter, period-end consumer portfolio loans increased 1%, reflecting increases in solar energy installation loans and indirect secured consumer loans.
Total period-end securities (taxable and tax-exempt; amortized cost) of $57 billion in the current quarter were stable compared to the prior quarter and decreased 1% compared to the year-ago quarter. Period-end other short-term investments of approximately $22 billion increased 3% compared to the prior quarter, and increased 15% compared to the year-ago quarter.

7

Average Deposits
($ in millions)For the Three Months Ended% Change
SeptemberJuneSeptember
202420242023SeqYr/Yr
Average Deposits
Demand$40,020 $40,266 $44,228 (1)%(10)%
Interest checking58,44157,99953,1091%10%
Savings17,27217,74720,511(3)%(16)%
Money market37,25735,51132,0725%16%
Foreign office(g)
1641571684%(2)%
Total transaction deposits$153,154$151,680$150,0881%2%
CDs $250,000 or less10,54310,7679,630(2)%9%
Total core deposits$163,697$162,447$159,7181%2%
CDs over $250,000 3,4994,7475,926(26)%(41)%
Total average deposits$167,196 $167,194 $165,644 —1%
CDs over $250,000 includes $2.6BN, $3.8BN, and $5.2BN of retail brokered certificates of deposit which are fully covered by FDIC insurance for the three months ended 9/30/24, 6/30/24, and 9/30/23, respectively.
Compared to the prior quarter, total average deposits were stable, primarily reflecting an increase in money market balances, offset by a decline in CDs over $250,000. Average demand deposits represented 24% of total core deposits in the current quarter. Compared to the prior quarter, average commercial segment deposits increased 3%, while average consumer and small business banking segment deposits and average wealth & asset management segment deposits were stable. Period-end total deposits increased 1% compared to the prior quarter.
Compared to the year-ago quarter, total average deposits increased 1%, primarily reflecting increases in interest checking and money market balances, partially offset by decreases in demand account balances and savings balances. Period-end total deposits were stable compared to the year-ago quarter.
The period-end portfolio loan-to-core deposit ratio was 71% in the current quarter, compared to 72% in the prior quarter and 74% in the year-ago quarter.
Average Wholesale Funding
($ in millions)For the Three Months Ended% Change
SeptemberJuneSeptember
202420242023SeqYr/Yr
Average Wholesale Funding
CDs over $250,000$3,499 $4,747 $5,926 (26)%(41)%
Federal funds purchased176230181(23)%(3)%
Securities sold under repurchase agreements3963733526%13%
FHLB advances2,5763,1653,726(19)%(31)%
Derivative collateral and other secured borrowings525448(4)%8%
Long-term debt16,71615,61114,0567%19%
Total average wholesale funding$23,415$24,180$24,289(3)%(4)%
CDs over $250,000 includes $2.6BN, $3.8BN, and $5.2BN of retail brokered certificates of deposit which are fully covered by FDIC insurance for the three months ended 9/30/24, 6/30/24, and 9/30/23, respectively.
Compared to the prior quarter, average wholesale funding decreased 3%, primarily reflecting a decrease in CDs over $250,000, partially offset by an increase in long-term debt. Compared to the year-ago quarter, average wholesale funding decreased 4%, primarily reflecting a decrease in CDs over $250,000 and FHLB advances, partially offset by an increase in long-term debt.
8

Credit Quality Summary
($ in millions)As of and For the Three Months Ended
SeptemberJuneMarchDecemberSeptember
20242024202420232023
Total nonaccrual portfolio loans and leases (NPLs)$686$606$708$649$570
Repossessed property11981011
OREO2828272931
Total nonperforming portfolio loans and leases and OREO (NPAs)$725$643$743$688$612
NPL ratio(h)
0.59 %0.52 %0.61 %0.55 %0.47 %
NPA ratio(c)
0.62 %0.55 %0.64 %0.59 %0.51 %
Portfolio loans and leases 30-89 days past due (accrual)$283$302$342$359$316
Portfolio loans and leases 90 days past due (accrual)4033353629
30-89 days past due as a % of portfolio loans and leases0.24 %0.26 %0.29 %0.31 %0.26 %
90 days past due as a % of portfolio loans and leases0.03 %0.03 %0.03 %0.03 %0.02 %
Allowance for loan and lease losses (ALLL), beginning$2,288 $2,318 $2,322 $2,340 $2,327 
Total net losses charged-off(142)(144)(110)(96)(124)
Provision for loan and lease losses15911410678137
ALLL, ending$2,305$2,288$2,318$2,322$2,340
Reserve for unfunded commitments, beginning$137$154$166$189$207
Provision for (benefit from) the reserve for unfunded commitments1(17)(12)(23)(18)
Reserve for unfunded commitments, ending$138$137$154$166$189
Total allowance for credit losses (ACL)$2,443 $2,425 $2,472 $2,488 $2,529 
ACL ratios:
As a % of portfolio loans and leases2.09 % 2.08 % 2.12 % 2.12 % 2.11 % 
As a % of nonperforming portfolio loans and leases356 % 400 % 349 % 383 % 443 % 
As a % of nonperforming portfolio assets337 % 377 % 333 % 362 % 413 % 
ALLL as a % of portfolio loans and leases1.98 %1.96 %1.99 %1.98 %1.95 %
Total losses charged-off$(183)$(182)$(146)$(133)$(158)
Total recoveries of losses previously charged-off4138363734
Total net losses charged-off$(142)$(144)$(110)$(96)$(124)
Net charge-off ratio (NCO ratio)(b)
0.48 %0.49 %0.38 %0.32 %0.41 %
Commercial NCO ratio0.40 %0.45 %0.19 %0.13 %0.34 %
Consumer NCO ratio0.62 %0.57 %0.67 %0.64 %0.53 %
The provision for credit losses totaled $160 million in the current quarter. The ACL ratio was 2.09% of total portfolio loans and leases at quarter end, compared with 2.08% for the prior quarter end and 2.11% for the year-ago quarter end. In the current quarter, the ACL was 356% of nonperforming portfolio loans and leases and 337% of nonperforming portfolio assets.
Net charge-offs were $142 million in the current quarter, resulting in an NCO ratio of 0.48%. Compared to the prior quarter, net charge-offs decreased $2 million and the NCO ratio decreased 1 bp. Commercial net charge-offs were $72 million, resulting in a commercial NCO ratio of 0.40%, which decreased 5 bps compared to the prior quarter. Consumer net charge-offs were $70 million, resulting in a consumer NCO ratio of 0.62%, which increased 5 bps compared to the prior quarter.
9

Compared to the year-ago quarter, net charge-offs increased $18 million and the NCO ratio increased 7 bps. The commercial NCO ratio increased 6 bps compared to the prior year, and the consumer NCO ratio increased 9 bps compared to the prior year.
Nonperforming portfolio loans and leases were $686 million in the current quarter, with the resulting NPL ratio of 0.59%. Compared to the prior quarter, NPLs increased $80 million with the NPL ratio increasing 7 bps. Compared to the year-ago quarter, NPLs increased $116 million with the NPL ratio increasing 12 bps.
Nonperforming portfolio assets were $725 million in the current quarter, with the resulting NPA ratio of 0.62%. Compared to the prior quarter, NPAs increased $82 million with the NPA ratio increasing 7 bps. Compared to the year-ago quarter, NPAs increased $113 million with the NPA ratio increasing 11 bps.

Capital Position
As of and For the Three Months Ended
SeptemberJuneMarchDecemberSeptember
20242024202420232023
Capital Position
Average total Bancorp shareholders' equity as a % of average assets
9.47 %8.80 %8.78 %8.04 %8.30 %
Tangible equity(a)
8.99 %8.91 %8.75 %8.65 %8.46 %
Tangible common equity (excluding AOCI)(a)
8.00 %7.92 %7.77 %7.67 %7.49 %
Tangible common equity (including AOCI)(a)
6.52 %5.80 %5.67 %5.73 %4.51 %
Regulatory Capital Ratios(d)(e)
CET1 capital
10.75 %10.62 %10.47 %10.29 %9.80 %
Tier 1 risk-based capital
12.07 %11.93 %11.77 %11.59 %11.06 %
Total risk-based capital
14.12 %13.95 %13.81 %13.72 %13.13 %
Leverage9.11 %9.07 %8.94 %8.73 %8.85 %
CET1 capital ratio of 10.75% increased 13 bps sequentially driven by strong profitability. During the third quarter of 2024, Fifth Third repurchased $200 million of its common stock, which reduced shares outstanding by approximately 4.9 million at quarter end. Fifth Third increased its quarterly cash dividend on its common shares by $0.02, or 6%, to $0.37 per share for the third quarter of 2024.

10

Tax Rate
The effective tax rate for the quarter was 21.3% consistent with the prior quarter and slightly lower than 22.0% 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.




11


FORWARD-LOOKING STATEMENTS

This release contains statements that we believe are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Rule 175 promulgated thereunder, and Section 21E of the Securities Exchange Act of 1934, as amended, and Rule 3b-6 promulgated thereunder. All statements other than statements of historical fact are forward-looking statements. These statements relate to our financial condition, results of operations, plans, objectives, future performance, capital actions or business. They usually can be identified by the use of forward-looking language such as “will likely result,” “may,” “are expected to,” “is anticipated,” “potential,” “estimate,” “forecast,” “projected,” “intends to,” or may include other similar words or phrases such as “believes,” “plans,” “trend,” “objective,” “continue,” “remain,” or similar expressions, or future or conditional verbs such as “will,” “would,” “should,” “could,” “might,” “can,” or similar verbs. You should not place undue reliance on these statements, as they are subject to risks and uncertainties, including but not limited to the risk factors set forth in our most recent Annual Report on Form 10-K as updated by our filings with the U.S. Securities and Exchange Commission (“SEC”).

There are a number of important factors that could cause future results to differ materially from historical performance and these forward-looking statements. Factors that might cause such a difference include, but are not limited to: (1) deteriorating credit quality; (2) loan concentration by location or industry of borrowers or collateral; (3) problems encountered by other financial institutions; (4) inadequate sources of funding or liquidity; (5) unfavorable actions of rating agencies; (6) inability to maintain or grow deposits; (7) limitations on the ability to receive dividends from subsidiaries; (8) cyber-security risks; (9) Fifth Third’s ability to secure confidential information and deliver products and services through the use of computer systems and telecommunications networks; (10) failures by third-party service providers; (11) inability to manage strategic initiatives and/or organizational changes; (12) inability to implement technology system enhancements; (13) failure of internal controls and other risk management programs; (14) losses related to fraud, theft, misappropriation or violence; (15) inability to attract and retain skilled personnel; (16) adverse impacts of government regulation; (17) governmental or regulatory changes or other actions; (18) failures to meet applicable capital requirements; (19) regulatory objections to Fifth Third’s capital plan; (20) regulation of Fifth Third’s derivatives activities; (21) deposit insurance premiums; (22) assessments for the orderly liquidation fund; (23) weakness in the national or local economies; (24) global political and economic uncertainty or negative actions; (25) changes in interest rates and the effects of inflation; (26) changes and trends in capital markets; (27) fluctuation of Fifth Third’s stock price; (28) volatility in mortgage banking revenue; (29) litigation, investigations, and enforcement proceedings by governmental authorities; (30) breaches of contractual covenants, representations and warranties; (31) competition and changes in the financial services industry; (32) potential impacts of the adoption of real-time payment networks; (33) changing retail distribution strategies, customer preferences and behavior; (34) difficulties in identifying, acquiring or integrating suitable strategic partnerships, investments or acquisitions; (35) potential dilution from future acquisitions; (36) loss of income and/or difficulties encountered in the sale and separation of businesses, investments or other assets; (37) results of investments or acquired entities; (38) changes in accounting standards or interpretation or declines in the value of Fifth Third’s goodwill or other intangible assets; (39) inaccuracies or other failures from the use of models; (40) effects of critical accounting policies and judgments or the use of inaccurate estimates; (41) weather-related events, other natural disasters, or health emergencies (including pandemics); (42) the impact of reputational risk created by these or other developments on such matters as business generation and retention, funding and liquidity; (43) changes in law or requirements imposed by Fifth Third’s regulators impacting our capital actions, including dividend payments and stock repurchases; and (44) Fifth Third's ability to meet its environmental and/or social targets, goals and commitments.

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


12

a53_logoxhorizontalxfullco.jpg
Quarterly Financial Review for September 30, 2024

Table of Contents


Financial Highlights14-15
Consolidated Statements of Income16-17
Consolidated Balance Sheets18-19
Consolidated Statements of Changes in Equity20
Average Balance Sheets and Yield/Rate Analysis21-22
Summary of Loans and Leases23
Regulatory Capital24
Summary of Credit Loss Experience25
Asset Quality26
Non-GAAP Reconciliation27-29
Segment Presentation30


13

Fifth Third Bancorp and Subsidiaries
Financial HighlightsAs of and For the Three Months Ended% / bps% / bps
$ in millions, except per share dataChangeYear to DateChange
(unaudited)SeptemberJuneSeptemberSeptemberSeptember
202420242023SeqYr/Yr20242023Yr/Yr
Income Statement Data
Net interest income$1,421$1,387$1,4382%(1%)$4,192$4,411(5%)
Net interest income (FTE)(a)
1,4271,3931,4452%(1%)4,2104,429(5%)
Noninterest income7116957152%(1%)2,1172,137(1%)
Total revenue (FTE)(a)
2,1382,0882,1602%(1%)6,3276,566(4%)
Provision for credit losses1609711965%34%351460(24%)
Noninterest expense1,2441,2211,1882%5%3,8073,7502%
Net income573601660(5%)(13%)1,6941,819(7%)
Net income available to common shareholders532561623(5%)(15%)1,5731,719(8%)
Earnings Per Share Data
Net income allocated to common shareholders$532$561$623(5%)(15%)$1,573$1,719(8%)
Average common shares outstanding (in thousands):
Basic680,895686,781684,224(1%)—684,462684,091—
Diluted686,109691,083687,059(1%)—689,263687,661—
Earnings per share, basic$0.78$0.82$0.91(5%)(14%)$2.30$2.51(8%)
Earnings per share, diluted0.780.810.91(4%)(14%)2.282.50(9%)
Common Share Data
Cash dividends per common share$0.37$0.35$0.356%6%$1.07$1.016%
Book value per share27.6025.1321.1910%30%27.6021.1930%
Market value per share42.8436.4925.3317%69%42.8425.3369%
Common shares outstanding (in thousands)676,269680,789680,990(1%)(1%)676,269680,990(1%)
Market capitalization$28,971$24,842$17,24917%68%$28,971$17,24968%
Financial Ratios
Return on average assets1.06 %1.14 %1.26 %(8)(20)1.06 %1.18 %(12)
Return on average common equity11.7 %13.6 %16.3 %(190)(460)12.3 %14.6 %(230)
Return on average tangible common equity(a)
16.3 %19.8 %24.7 %(350)(840)17.6 %21.8 %(420)
Noninterest income as a percent of total revenue(a)
33 %33 %33 %——33 %33 %—
Dividend payout47.4 %42.7 %38.5 %47089046.5 %40.2 %630
Average total Bancorp shareholders’ equity as a percent of average assets
9.47 %8.80 %8.30 %671179.02 %8.65 %37
Tangible common equity(a)
8.00 %7.92 %7.49 %8518.00 %7.49 %51
Net interest margin (FTE)(a)
2.90 %2.88 %2.98 %2(8)2.88 %3.12 %(24)
Efficiency (FTE)(a)
58.2 %58.5 %55.0 %(30)32060.2 %57.1 %310
Effective tax rate21.3 %21.3 %22.0 %—(70)21.3 %22.2 %(90)
Credit Quality
Net losses charged-off$142$144$124(1 %)15 %$396$29236 %
Net losses charged-off as a percent of average portfolio loans and leases (annualized)0.48 %0.49 %0.41 %(1)70.45 %0.32 %13
ALLL as a percent of portfolio loans and leases1.98 %1.96 %1.95 %231.98 %1.95 %3
ACL as a percent of portfolio loans and leases(g)
2.09 %2.08 %2.11 %1(2)2.09 %2.11 %(2)
Nonperforming portfolio assets as a percent of portfolio loans and leases and OREO0.62 %0.55 %0.51 %7110.62 %0.51 %11
Average Balances
Loans and leases, including held for sale$117,415$117,283$122,266—(4%)$117,466$123,284(5%)
Securities and other short-term investments78,42177,21669,9502%12%77,76566,29417%
Assets213,838212,475208,3851%3%213,174206,5283%
Transaction deposits(b)
153,154151,680150,0881%2%152,400149,6412%
Core deposits(c)
163,697162,447159,7181%2%162,918157,1784%
Wholesale funding(d)
23,41524,18024,289(3%)(4%)24,12024,548(2%)
Bancorp shareholders' equity
20,25118,70717,3058%17%19,23217,8738%
Regulatory Capital Ratios(e)(f)
CET1 capital
10.75 %10.62 %9.80 %139510.75 %9.80 %95
Tier 1 risk-based capital
12.07 %11.93 %11.06 %1410112.07 %11.06 %101
Total risk-based capital
14.12 %13.95 %13.13 %179914.12 %13.13 %99
Leverage9.11 %9.07 %8.85 %4269.11 %8.85 %26
Additional Metrics
Banking centers1,0721,0701,073——1,0721,073—
ATMs2,0602,0672,101—(2%)2,0602,101(2%)
Full-time equivalent employees18,57918,60718,804—(1%)18,57918,804(1%)
Assets under care ($ in billions)(h)
$635$631$5471%16%$635$54716%
Assets under management ($ in billions)(h)
6965576%21%695721%
(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.


14

Fifth Third Bancorp and Subsidiaries
Financial Highlights
$ in millions, except per share dataAs of and For the Three Months Ended
(unaudited)SeptemberJuneMarchDecemberSeptember
20242024202420232023
Income Statement Data
Net interest income$1,421$1,387$1,384$1,416$1,438
Net interest income (FTE)(a)
1,4271,3931,3901,4231,445
Noninterest income711695710744715
Total revenue (FTE)(a)
2,1382,0882,1002,1672,160
Provision for credit losses160979455119
Noninterest expense1,2441,2211,3421,4551,188
Net income573601520530660
Net income available to common shareholders532561480492623
Earnings Per Share Data
Net income allocated to common shareholders$532$561$480$492$623
Average common shares outstanding (in thousands):
Basic680,895686,781685,750684,413684,224
Diluted686,109691,083690,634687,729687,059
Earnings per share, basic$0.78$0.82$0.70$0.72$0.91
Earnings per share, diluted0.780.810.700.720.91
Common Share Data
Cash dividends per common share$0.37$0.35$0.35$0.35$0.35
Book value per share27.6025.1324.7225.0421.19
Market value per share42.8436.4937.2134.4925.33
Common shares outstanding (in thousands)676,269680,789683,812681,125680,990
Market capitalization$28,971$24,842$25,445$23,492$17,249
Financial Ratios
Return on average assets1.06 %1.14 %0.98 %0.98 %1.26 %
Return on average common equity11.7 %13.6 %11.6 %12.9 %16.3 %
Return on average tangible common equity(a)
16.3 %19.8 %17.0 %19.8 %24.7 %
Noninterest income as a percent of total revenue(a)
33 %33 %34 %34 %33 %
Dividend payout47.4 %42.7 %50.0 %48.6 %38.5 %
Average total Bancorp shareholders’ equity as a percent of average assets
9.47 %8.80 %8.78 %8.04 %8.30 %
Tangible common equity(a)
8.00 %7.92 %7.77 %7.67 %7.49 %
Net interest margin (FTE)(a)
2.90 %2.88 %2.86 %2.85 %2.98 %
Efficiency (FTE)(a)
58.2 %58.5 %63.9 %67.2 %55.0 %
Effective tax rate21.3 %21.3 %21.1 %18.4 %22.0 %
Credit Quality
Net losses charged-off$142$144$110$96$124
Net losses charged-off as a percent of average portfolio loans and leases (annualized)0.48 %0.49 %0.38 %0.32 %0.41 %
ALLL as a percent of portfolio loans and leases1.98 %1.96 %1.99 %1.98 %1.95 %
ACL as a percent of portfolio loans and leases(g)
2.09 %2.08 %2.12 %2.12 %2.11 %
Nonperforming portfolio assets as a percent of portfolio loans and leases and OREO0.62 %0.55 %0.64 %0.59 %0.51 %
Average Balances
Loans and leases, including held for sale$117,415$117,283$117,699$119,309$122,266
Securities and other short-term investments78,42177,21677,65078,85769,950
Assets213,838212,475213,203214,057208,385
Transaction deposits(b)
153,154151,680152,357153,232150,088
Core deposits(c)
163,697162,447162,601163,788159,718
Wholesale funding(d)
23,41524,18024,77126,11524,289
Bancorp shareholders’ equity
20,25118,70718,72717,20117,305
Regulatory Capital Ratios(e)(f)
CET1 capital
10.75 %10.62 %10.47 %10.29 %9.80 %
Tier 1 risk-based capital12.07 %11.93 %11.77 %11.59 %11.06 %
Total risk-based capital
14.12 %13.95 %13.81 %13.72 %13.13 %
Leverage9.11 %9.07 %8.94 %8.73 %8.85 %
Additional Metrics
Banking centers1,0721,0701,0701,0881,073
ATMs2,0602,0672,0822,1042,101
Full-time equivalent employees18,57918,60718,65718,72418,804
Assets under care ($ in billions)(h)
$635$631$634$574$547
Assets under management ($ in billions)(h)
6965625957
(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.
15

Fifth Third Bancorp and Subsidiaries
Consolidated Statements of Income
$ in millionsFor the Three Months Ended% ChangeYear to Date% Change
(unaudited)SeptemberJuneSeptemberSeptemberSeptember
202420242023SeqYr/Yr20242023Yr/Yr
Interest Income
Interest and fees on loans and leases$1,910$1,871$1,8992%1%$5,640$5,4454%
Interest on securities4614584441%4%1,3741,3204%
Interest on other short-term investments2982911862%60%883348154%
Total interest income2,6692,6202,5292%6%7,8977,11311%
Interest Expense
Interest on deposits9689588441%15%2,8801,97746%
Interest on federal funds purchased232(33%)—813(38%)
Interest on other short-term borrowings404852(17%)(23%)135198(32%)
Interest on long-term debt2382241936%23%68251433%
Total interest expense1,2481,2331,0911%14%3,7052,70237%
Net Interest Income1,4211,3871,4382%(1%)4,1924,411(5%)
Provision for credit losses1609711965%34%351460(24%)
Net Interest Income After Provision for Credit Losses1,2611,2901,319(2%)(4%)3,8413,951(3%)
Noninterest Income
Service charges on deposits1611561493%8%4674318%
Commercial banking revenue16314415413%6%451461(2%)
Mortgage banking net revenue505057—(12%)154184(16%)
Wealth and asset management revenue1631591453%12%48343411%
Card and processing revenue106108104(2%)2%3163102%
Leasing business revenue43385813%(26%)120162(26%)
Other noninterest income153755(59%)(73%)103152(32%)
Securities gains (losses), net103(7)233%NM233667%
Total noninterest income7116957152%(1%)2,1172,137(1%)
Noninterest Expense
Compensation and benefits6906566295%10%2,0992,0363%
Net occupancy expense818384(2%)(4%)2512481%
Technology and communications1211141156%5%3513471%
Equipment expense383837—3%1141104%
Card and processing expense2221215%5%6363—
Leasing business expense212229(5%)(28%)6994(27%)
Marketing expense263435(24%)(26%)9296(4%)
Other noninterest expense245253238(3%)3%7687562%
Total noninterest expense1,2441,2211,1882%5%3,8073,7502%
Income Before Income Taxes728764846(5%)(14%)2,1512,338(8%)
Applicable income tax expense155163186(5%)(17%)457519(12%)
Net Income573601660(5%)(13%)1,6941,819(7%)
Dividends on preferred stock4140373%11%12110021%
Net Income Available to Common Shareholders$532$561$623(5%)(15%)$1,573$1,719(8%)
16

Fifth Third Bancorp and Subsidiaries
Consolidated Statements of Income
$ in millionsFor the Three Months Ended
(unaudited)SeptemberJuneMarchDecemberSeptember
20242024202420232023
Interest Income
Interest and fees on loans and leases$1,910$1,871$1,859$1,889$1,899
Interest on securities461458455451444
Interest on other short-term investments298291294308186
Total interest income2,6692,6202,6082,6482,529
Interest Expense
Interest on deposits968958954952844
Interest on federal funds purchased23332
Interest on other short-term borrowings4048474952
Interest on long-term debt238224220228193
Total interest expense1,2481,2331,2241,2321,091
Net Interest Income1,4211,3871,3841,4161,438
Provision for credit losses160979455119
Net Interest Income After Provision for Credit Losses1,2611,2901,2901,3611,319
Noninterest Income
Service charges on deposits161156151146149
Commercial banking revenue163144143163154
Mortgage banking net revenue5050546657
Wealth and asset management revenue163159161147145
Card and processing revenue106108102106104
Leasing business revenue4338394658
Other noninterest income1537505455
Securities gains (losses), net1031016(7)
Total noninterest income711695710744715
Noninterest Expense
Compensation and benefits690656753659629
Net occupancy expense8183878384
Technology and communications121114117117115
Equipment expense3838373737
Card and processing expense2221202121
Leasing business expense2122252729
Marketing expense2634323035
Other noninterest expense245253271481238
Total noninterest expense1,2441,2211,3421,4551,188
Income Before Income Taxes728764658650846
Applicable income tax expense155163138120186
Net Income573601520530660
Dividends on preferred stock4140403837
Net Income Available to Common Shareholders$532$561$480$492$623
17

Fifth Third Bancorp and Subsidiaries
Consolidated Balance Sheets
$ in millions, except per share dataAs of% Change
(unaudited)SeptemberJuneSeptember
202420242023SeqYr/Yr
Assets
Cash and due from banks$3,215$2,837$2,83713%13%
Other short-term investments21,72921,08518,9233%15%
Available-for-sale debt and other securities(a)
40,39638,98647,8934%(16%)
Held-to-maturity securities(b)
11,35811,4432(1%)NM
Trading debt securities1,1761,1321,2224%(4%)
Equity securities428476250(10%)71%
Loans and leases held for sale61253761414%—
Portfolio loans and leases:
  Commercial and industrial loans50,91651,84055,790(2%)(9%)
  Commercial mortgage loans11,39411,42911,122—2%
  Commercial construction loans5,9475,8065,5822%7%
  Commercial leases2,8732,7082,6246%9%
Total commercial loans and leases71,13071,78375,118(1%)(5%)
  Residential mortgage loans17,16617,04017,2931%(1%)
  Home equity4,0743,9693,8983%5%
  Indirect secured consumer loans15,94215,44215,4343%3%
  Credit card1,7031,7331,817(2%)(6%)
  Solar energy installation loans4,0783,9513,3833%21%
  Other consumer loans2,5752,6613,145(3%)(18%)
Total consumer loans45,53844,79644,9702%1%
Portfolio loans and leases116,668116,579120,088—(3%)
Allowance for loan and lease losses(2,305)(2,288)(2,340)1%(1%)
Portfolio loans and leases, net114,363114,291117,748—(3%)
Bank premises and equipment2,4252,3892,3032%5%
Operating lease equipment357392480(9%)(26%)
Goodwill4,9184,9184,919——
Intangible assets98107136(8%)(28%)
Servicing rights1,6561,7311,822(4%)(9%)
Other assets11,58712,93813,818(10%)(16%)
Total Assets$214,318$213,262$212,967—1%
Liabilities
Deposits:
  Demand $41,393$40,617$43,8442%(6%)
  Interest checking 58,57257,39053,4212%10%
  Savings 16,99017,41920,195(2%)(16%)
  Money market 37,48236,25933,4923%12%
  Foreign office 15511916830%(8%)
  CDs $250,000 or less10,48010,88210,306(4%)2%
  CDs over $250,0003,2684,0826,246(20%)(48%)
Total deposits168,340166,768167,6721%—
Federal funds purchased169194205(13%)(18%)
Other short-term borrowings1,4243,3704,594(58%)(69%)
Accrued taxes, interest and expenses2,0342,0401,834—11%
Other liabilities4,4715,3715,808(17%)(23%)
Long-term debt17,09616,29316,3105%5%
Total Liabilities193,534194,036196,423—(1%)
Equity
Common stock(c)
2,0512,0512,051——
Preferred stock2,1162,1162,116——
Capital surplus3,7843,7643,7331%1%
Retained earnings23,82023,54222,7471%5%
Accumulated other comprehensive loss(3,446)(4,901)(6,839)(30%)(50%)
Treasury stock(7,541)(7,346)(7,264)3%4%
Total Equity20,78419,22616,5448%26%
Total Liabilities and Equity$214,318$213,262$212,967—1%
(a) Amortized cost$43,754$43,596$55,557—(21%)
(b) Market values11,554 11,187 2 3 %NM
(c) Common shares, stated value $2.22 per share (in thousands):
Authorized2,000,0002,000,0002,000,000——
Outstanding, excluding treasury676,269680,789680,990——
Treasury247,624243,103242,9032 %—


18

Fifth Third Bancorp and Subsidiaries
Consolidated Balance Sheets
$ in millions, except per share dataAs of
(unaudited)SeptemberJuneMarchDecemberSeptember
20242024202420232023
Assets
Cash and due from banks$3,215$2,837$2,796$3,142$2,837
Other short-term investments21,72921,08522,84022,08218,923
Available-for-sale debt and other securities(a)
40,39638,98638,79150,41947,893
Held-to-maturity securities(b)
11,35811,44311,52022
Trading debt securities1,1761,1321,1518991,222
Equity securities428476380613250
Loans and leases held for sale612537339378614
Portfolio loans and leases:
  Commercial and industrial loans50,91651,84052,20953,27055,790
  Commercial mortgage loans11,39411,42911,34611,27611,122
  Commercial construction loans5,9475,8065,7895,6215,582
  Commercial leases2,8732,7082,5722,5792,624
Total commercial loans and leases71,13071,78371,91672,74675,118
  Residential mortgage loans17,16617,04016,99517,02617,293
  Home equity4,0743,9693,8833,9163,898
  Indirect secured consumer loans15,94215,44215,30614,96515,434
  Credit card1,7031,7331,7371,8651,817
  Solar energy installation loans4,0783,9513,8713,7283,383
  Other consumer loans2,5752,6612,7772,9883,145
Total consumer loans45,53844,79644,56944,48844,970
Portfolio loans and leases116,668116,579116,485117,234120,088
Allowance for loan and lease losses(2,305)(2,288)(2,318)(2,322)(2,340)
Portfolio loans and leases, net114,363114,291114,167114,912117,748
Bank premises and equipment2,4252,3892,3762,3492,303
Operating lease equipment357392427459480
Goodwill4,9184,9184,9184,9194,919
Intangible assets98107115125136
Servicing rights1,6561,7311,7561,7371,822
Other assets11,58712,93812,93012,53813,818
Total Assets$214,318$213,262$214,506$214,574$212,967
Liabilities
Deposits:
  Demand $41,393$40,617$41,849$43,146$43,844
  Interest checking58,57257,39058,80957,25753,421
  Savings 16,99017,41918,22918,21520,195
  Money market 37,48236,25935,02534,37433,492
  Foreign office 155119129162168
CDs $250,000 or less10,48010,88210,33710,55210,306
CDs over $250,0003,2684,0825,2095,2066,246
Total deposits168,340166,768169,587168,912167,672
Federal funds purchased169194247193205
Other short-term borrowings1,4243,3702,8662,8614,594
Accrued taxes, interest and expenses2,0342,0401,9652,1951,834
Other liabilities4,4715,3715,3794,8615,808
Long-term debt17,09616,29315,44416,38016,310
Total Liabilities193,534194,036195,488195,402196,423
Equity
Common stock(c)
2,0512,0512,0512,0512,051
Preferred stock2,1162,1162,1162,1162,116
Capital surplus3,7843,7643,7423,7573,733
Retained earnings23,82023,54223,22422,99722,747
Accumulated other comprehensive loss(3,446)(4,901)(4,888)(4,487)(6,839)
Treasury stock(7,541)(7,346)(7,227)(7,262)(7,264)
Total Equity20,78419,22619,01819,17216,544
Total Liabilities and Equity$214,318$213,262$214,506$214,574$212,967
(a) Amortized cost$43,754$43,596$43,400$55,789$55,557
(b) Market values11,55411,18711,34122
(c) Common shares, stated value $2.22 per share (in thousands):
Authorized2,000,0002,000,0002,000,0002,000,0002,000,000
Outstanding, excluding treasury676,269680,789683,812681,125680,990
Treasury247,624243,103240,080242,768242,903
19

Fifth Third Bancorp and Subsidiaries
Consolidated Statements of Changes in Equity
$ in millions
(unaudited)
For the Three Months EndedYear to Date
SeptemberSeptemberSeptemberSeptember
2024202320242023
Total Equity, Beginning$19,226$17,809$19,172$17,327
Impact of cumulative effect of change in accounting principle——(10)37
Net income5736601,6941,819
Other comprehensive income (loss), net of tax:
Change in unrealized losses:
Available-for-sale debt securities937(1,218)760(1,251)
Qualifying cash flow hedges489(455)202(479)
Amortization of unrealized losses on securities transferred to held-to-maturity26—76—
Change in accumulated other comprehensive income related to employee benefit plans1—11
Other2—2—
Comprehensive income (loss)2,028(1,013)2,73590
Cash dividends declared:
Common stock(254)(242)(740)(698)
Preferred stock(41)(37)(121)(100)
Impact of stock transactions under stock compensation plans, net27277589
Shares acquired for treasury(202)—(327)(201)
Total Equity, Ending$20,784$16,544$20,784$16,544
20

Fifth Third Bancorp and Subsidiaries
Average Balance Sheets and Yield/Rate AnalysisFor the Three Months Ended
$ in millionsSeptemberJuneSeptember
(unaudited)202420242023
AverageAverageAverageAverageAverageAverage
BalanceYield/RateBalanceYield/RateBalanceYield/Rate
Assets
Interest-earning assets:
Loans and leases:
  Commercial and industrial loans(a)
$51,6307.15 %$52,3897.13 %$57,0157.00 %
  Commercial mortgage loans(a)
11,4886.26 %11,3536.26 %11,2166.12 %
  Commercial construction loans(a)
5,9827.14 %5,9177.14 %5,5406.93 %
  Commercial leases(a)
2,6864.53 %2,5764.33 %2,6183.75 %
Total commercial loans and leases71,7866.91 %72,2356.90 %76,3896.75 %
  Residential mortgage loans17,6043.71 %17,3633.66 %18,0193.52 %
  Home equity4,0188.40 %3,9298.37 %3,8978.17 %
  Indirect secured consumer loans15,6805.42 %15,3735.18 %15,7874.43 %
  Credit card1,70814.00 %1,72812.86 %1,80814.09 %
  Solar energy installation loans3,9908.12 %3,9168.35 %3,2456.42 %
  Other consumer loans2,6299.37 %2,7399.17 %3,1218.93 %
Total consumer loans45,6295.81 %45,0485.69 %45,8775.22 %
Total loans and leases117,4156.48 %117,2836.43 %122,2666.18 %
Securities:
Taxable securities55,3293.25 %55,2413.27 %55,5193.10 %
Tax exempt securities(a)
1,3783.30 %1,3663.27 %1,4753.21 %
Other short-term investments21,7145.47 %20,6095.67 %12,9565.69 %
Total interest-earning assets195,8365.43 %194,4995.43 %192,2165.23 %
Cash and due from banks2,6642,6372,576
Other assets17,62617,65615,920
Allowance for loan and lease losses(2,288)(2,317)(2,327)
Total Assets$213,838$212,475$208,385
Liabilities
Interest-bearing liabilities:
  Interest checking deposits$58,4413.38 %$57,9993.39 %$53,1093.18 %
  Savings deposits17,2720.71 %17,7470.67 %20,5110.89 %
  Money market deposits37,2573.06 %35,5113.00 %32,0722.50 %
  Foreign office deposits1641.97 %1572.11 %1681.72 %
  CDs $250,000 or less10,5434.07 %10,7674.22 %9,6303.97 %
Total interest-bearing core deposits123,6772.97 %122,1812.95 %115,4902.65 %
  CDs over $250,0003,4995.08 %4,7475.16 %5,9264.91 %
Total interest-bearing deposits127,1763.03 %126,9283.04 %121,4162.76 %
  Federal funds purchased1765.34 %2305.41 %1815.31 %
  Securities sold under repurchase agreements3962.36 %3731.97 %3521.46 %
  FHLB advances2,5765.59 %3,1655.71 %3,7265.26 %
  Derivative collateral and other secured borrowings5214.76 %546.87 %487.82 %
  Long-term debt16,7165.65 %15,6115.78 %14,0565.46 %
Total interest-bearing liabilities147,0923.38 %146,3613.39 %139,7793.10 %
Demand deposits40,02040,26644,228
Other liabilities6,4757,1417,073
Total Liabilities193,587193,768191,080
Total Equity20,25118,70717,305
Total Liabilities and Equity$213,838$212,475$208,385
Ratios:
  Net interest margin (FTE)(b)
2.90 %2.88 %2.98 %
  Net interest rate spread (FTE)(b)
2.05 %2.04 %2.13 %
  Interest-bearing liabilities to interest-earning assets75.11 %75.25 %72.72 %
(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.









21

Fifth Third Bancorp and Subsidiaries
Average Balance Sheets and Yield/Rate AnalysisYear to Date
$ in millionsSeptemberSeptember
(unaudited)20242023
AverageAverageAverageAverage
BalanceYield/RateBalanceYield/Rate
Assets
Interest-earning assets:
Loans and leases:
  Commercial and industrial loans(a)
$52,4237.12 %$57,7866.73 %
  Commercial mortgage loans(a)
11,3946.27 %11,2375.87 %
  Commercial construction loans(a)
5,8777.16 %5,5276.74 %
  Commercial leases(a)
2,6024.37 %2,6613.59 %
Total commercial loans and leases72,2966.89 %77,2116.50 %
  Residential mortgage loans17,4123.64 %18,1683.43 %
  Home equity3,9608.35 %3,9467.34 %
  Indirect secured consumer loans15,4105.18 %16,2194.19 %
  Credit card1,73613.53 %1,79014.06 %
  Solar energy installation loans3,9008.08 %2,7345.68 %
  Other consumer loans2,7529.16 %3,2168.67 %
Total consumer loans45,1705.68 %46,0734.95 %
Total loans and leases117,4666.43 %123,2845.92 %
Securities:
  Taxable securities55,1963.26 %56,1273.08 %
  Tax exempt securities(a)
1,3953.28 %1,4593.17 %
Other short-term investments21,1745.57 %8,7085.34 %
Total interest-earning assets195,2315.42 %189,5785.03 %
Cash and due from banks2,6812,776
Other assets17,57116,405
Allowance for loan and lease losses(2,309)(2,231)
Total Assets$213,174$206,528
Liabilities
Interest-bearing liabilities:
  Interest checking deposits$58,3723.39 %$50,7822.79 %
  Savings deposits17,7070.69 %21,7550.73 %
  Money market deposits35,7912.99 %29,8151.88 %
  Foreign office deposits1562.16 %1511.63 %
  CDs $250,000 or less10,5184.15 %7,5373.51 %
Total interest-bearing core deposits122,5442.95 %110,0402.19 %
  CDs over $250,0004,5855.16 %5,2224.57 %
Total interest-bearing deposits127,1293.03 %115,2622.29 %
  Federal funds purchased2025.39 %3474.89 %
  Securities sold under repurchase agreements3782.06 %3471.13 %
  FHLB advances2,9495.68 %5,0354.99 %
  Derivative collateral and other secured borrowings559.50 %1238.10 %
  Long-term debt15,9515.71 %13,4745.09 %
Total interest-bearing liabilities146,6643.37 %134,5882.68 %
Demand deposits40,37447,138
Other liabilities6,9046,929
Total Liabilities193,942188,655
Total Equity19,23217,873
Total Liabilities and Equity$213,174$206,528
Ratios:
  Net interest margin (FTE)(b)
2.88 %3.12 %
  Net interest rate spread (FTE)(b)
2.05 %2.35 %
  Interest-bearing liabilities to interest-earning assets75.12 %70.99 %
(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.

22

Fifth Third Bancorp and Subsidiaries
Summary of Loans and Leases
$ in millionsFor the Three Months Ended
(unaudited)SeptemberJuneMarchDecemberSeptember
20242024202420232023
Average Portfolio Loans and Leases
Commercial loans and leases:
  Commercial and industrial loans$51,615$52,357$53,183$54,633$57,001
  Commercial mortgage loans11,48811,35211,33911,33811,216
  Commercial construction loans5,9815,9175,7325,7275,539
  Commercial leases2,6852,5752,5422,5352,616
Total commercial loans and leases71,76972,20172,79674,23376,372
Consumer loans:
  Residential mortgage loans17,03117,00416,97717,12917,400
  Home equity4,0183,9293,9333,9053,897
  Indirect secured consumer loans15,68015,37315,17215,12915,787
  Credit card1,7081,7281,7731,8291,808
  Solar energy installation loans3,9903,9163,7943,6303,245
  Other consumer loans2,6302,7402,8893,0033,121
Total consumer loans45,05744,69044,53844,62545,258
Total average portfolio loans and leases$116,826$116,891$117,334$118,858$121,630
Average Loans and Leases Held for Sale
Commercial loans and leases held for sale$16$33$74$72$17
Consumer loans held for sale573359291379619
Average loans and leases held for sale$589$392$365$451$636
End of Period Portfolio Loans and Leases
Commercial loans and leases:
  Commercial and industrial loans$50,916$51,840$52,209$53,270$55,790
  Commercial mortgage loans11,39411,42911,34611,27611,122
  Commercial construction loans5,9475,8065,7895,6215,582
  Commercial leases2,8732,7082,5722,5792,624
Total commercial loans and leases71,13071,78371,91672,74675,118
Consumer loans:
  Residential mortgage loans17,16617,04016,99517,02617,293
  Home equity4,0743,9693,8833,9163,898
  Indirect secured consumer loans15,94215,44215,30614,96515,434
  Credit card1,7031,7331,7371,8651,817
  Solar energy installation loans4,0783,9513,8713,7283,383
  Other consumer loans2,5752,6612,7772,9883,145
Total consumer loans45,53844,79644,56944,48844,970
Total portfolio loans and leases$116,668$116,579$116,485$117,234$120,088
End of Period Loans and Leases Held for Sale
Commercial loans and leases held for sale$100$25$32$44$81
Consumer loans held for sale512512307334533
Loans and leases held for sale$612$537$339$378$614
Operating lease equipment$357$392$427$459$480
Loans and Leases Serviced for Others(a)
Commercial and industrial loans$1,178$1,201$1,197$1,231$1,217
Commercial mortgage loans515616632655711
Commercial construction loans342309293283288
Commercial leases773730703703721
Residential mortgage loans95,80897,28099,596100,842101,889
Solar energy installation loans610625641658673
Other consumer loans126133139146154
Total loans and leases serviced for others99,352100,894103,201104,518105,653
Total loans and leases owned or serviced$216,989$218,402$220,452$222,589$226,835
(a)Fifth Third sells certain loans and leases and obtains servicing responsibilities.
23

Fifth Third Bancorp and Subsidiaries
Regulatory Capital
$ in millionsAs of
(unaudited)SeptemberJuneMarchDecemberSeptember
2024(a)
2024202420232023
Regulatory Capital(b)
CET1 capital$17,271$17,160$16,931$16,800$16,510
Additional tier 1 capital2,1162,1162,1162,1162,116
Tier 1 capital19,38719,27619,04718,91618,626
Tier 2 capital3,3043,2753,2883,4843,485
Total regulatory capital$22,691$22,551$22,335$22,400$22,111
Risk-weighted assets
$160,664$161,636$161,769$163,223$168,433
Ratios
Average total Bancorp shareholders' equity as a percent of average assets
9.47 %8.80 %8.78 %8.04 %8.30 %
Regulatory Capital Ratios(b)
Fifth Third Bancorp
CET1 capital
10.75 %10.62 %10.47 %10.29 %9.80 %
Tier 1 risk-based capital
12.07 %11.93 %11.77 %11.59 %11.06 %
Total risk-based capital
14.12 %13.95 %13.81 %13.72 %13.13 %
Leverage9.11 %9.07 %8.94 %8.73 %8.85 %
Fifth Third Bank, National Association
Tier 1 risk-based capital
12.98 %12.81 %12.65 %12.42 %11.96 %
Total risk-based capital
14.32 %14.14 %13.99 %13.85 %13.38 %
Leverage9.82 %9.76 %9.61 %9.38 %9.59 %
(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.
24


Fifth Third Bancorp and Subsidiaries
Summary of Credit Loss Experience
$ in millionsFor the Three Months Ended
(unaudited)SeptemberJuneMarchDecemberSeptember
20242024202420232023
Average portfolio loans and leases:
  Commercial and industrial loans$51,615$52,357$53,183$54,633$57,001
  Commercial mortgage loans11,48811,35211,33911,33811,216
  Commercial construction loans5,9815,9175,7325,7275,539
  Commercial leases2,6852,5752,5422,5352,616
Total commercial loans and leases71,76972,20172,79674,23376,372
  Residential mortgage loans17,03117,00416,97717,12917,400
  Home equity4,0183,9293,9333,9053,897
  Indirect secured consumer loans15,68015,37315,17215,12915,787
  Credit card1,7081,7281,7731,8291,808
  Solar energy installation loans3,9903,9163,7943,6303,245
  Other consumer loans2,6302,7402,8893,0033,121
Total consumer loans45,05744,69044,53844,62545,258
Total average portfolio loans and leases$116,826$116,891$117,334$118,858$121,630
Losses charged-off:
  Commercial and industrial loans($80)($83)($40)($30)($70)
  Commercial mortgage loans—————
  Commercial construction loans—————
  Commercial leases—————
Total commercial loans and leases(80)(83)(40)(30)(70)
  Residential mortgage loans—(1)—(1)(1)
  Home equity(1)(1)(2)(2)(2)
  Indirect secured consumer loans(35)(31)(35)(35)(27)
  Credit card(21)(22)(23)(22)(19)
  Solar energy installation loans(16)(14)(14)(11)(8)
  Other consumer loans(30)(30)(32)(32)(31)
Total consumer loans(103)(99)(106)(103)(88)
Total losses charged-off($183)($182)($146)($133)($158)
Recoveries of losses previously charged-off:
  Commercial and industrial loans$8$3$5$2$5
  Commercial mortgage loans———3—
  Commercial construction loans—————
  Commercial leases————1
Total commercial loans and leases83556
  Residential mortgage loans11—11
  Home equity12222
  Indirect secured consumer loans131411108
  Credit card55544
  Solar energy installation loans2221—
  Other consumer loans1111111413
Total consumer loans3335313228
Total recoveries of losses previously charged-off$41$38$36$37$34
Net losses charged-off:
  Commercial and industrial loans($72)($80)($35)($28)($65)
  Commercial mortgage loans———3—
  Commercial construction loans—————
  Commercial leases————1
Total commercial loans and leases(72)(80)(35)(25)(64)
  Residential mortgage loans1————
  Home equity—1———
  Indirect secured consumer loans(22)(17)(24)(25)(19)
  Credit card(16)(17)(18)(18)(15)
  Solar energy installation loans(14)(12)(12)(10)(8)
  Other consumer loans(19)(19)(21)(18)(18)
Total consumer loans(70)(64)(75)(71)(60)
Total net losses charged-off($142)($144)($110)($96)($124)
Net losses charged-off as a percent of average portfolio loans and leases (annualized):
  Commercial and industrial loans0.55 %0.61 %0.27 %0.20 %0.45 %
  Commercial mortgage loans— 0.01 %— (0.10 %)— 
  Commercial construction loans— — — — — 
  Commercial leases(0.01 %)(0.01 %)(0.04 %)0.01 %(0.08 %)
Total commercial loans and leases0.40 %0.45 %0.19 %0.13 %0.34 %
  Residential mortgage loans(0.02 %)(0.01 %)(0.01 %)(0.01 %)— 
  Home equity(0.02 %)(0.05 %)0.03 %0.05 %0.03 %
  Indirect secured consumer loans0.54 %0.46 %0.64 %0.64 %0.47 %
  Credit card3.74 %3.98 %4.19 %3.90 %3.25 %
  Solar energy installation loans1.44 %1.25 %1.31 %1.09 %0.91 %
  Other consumer loans3.00 %2.61 %2.71 %2.60 %2.46 %
Total consumer loans0.62 %0.57 %0.67 %0.64 %0.53 %
Total net losses charged-off as a percent of average portfolio loans and leases (annualized)0.48 %0.49 %0.38 %0.32 %0.41 %
25

Fifth Third Bancorp and Subsidiaries
Asset Quality
$ in millionsFor the Three Months Ended
(unaudited)SeptemberJuneMarchDecemberSeptember
20242024202420232023
Allowance for Credit Losses
Allowance for loan and lease losses, beginning$2,288$2,318$2,322$2,340$2,327
  Total net losses charged-off(142)(144)(110)(96)(124)
Provision for loan and lease losses15911410678137
Allowance for loan and lease losses, ending$2,305$2,288$2,318$2,322$2,340
Reserve for unfunded commitments, beginning$137$154$166$189$207
Provision for (benefit from) the reserve for unfunded commitments1(17)(12)(23)(18)
Reserve for unfunded commitments, ending$138$137$154$166$189
Components of allowance for credit losses:
  Allowance for loan and lease losses$2,305$2,288$2,318$2,322$2,340
  Reserve for unfunded commitments138137154166189
Total allowance for credit losses$2,443$2,425$2,472$2,488$2,529
As of
SeptemberJuneMarchDecemberSeptember
20242024202420232023
Nonperforming Assets and Delinquent Loans
Nonaccrual portfolio loans and leases:
  Commercial and industrial loans$255$234$332$304$262
  Commercial mortgage loans7838392018
  Commercial construction loans1111—
  Commercial leases—1—11
  Residential mortgage loans131129137124127
  Home equity6761605758
  Indirect secured consumer loans5036323631
  Credit card3131323432
  Solar energy installation loans6466656028
  Other consumer loans99101213
Total nonaccrual portfolio loans and leases686606708649570
Repossessed property11981011
OREO2828272931
Total nonperforming portfolio loans and leases and OREO725643743688612
Nonaccrual loans held for sale84516
Total nonperforming assets$733$647$748$689$618
Loans and leases 90 days past due (accrual):
  Commercial and industrial loans$10$3$9$8$3
  Commercial mortgage loans31———
  Commercial leases142——
Total commercial loans and leases1481183
  Residential mortgage loans(c)
88576
  Credit card1817192120
Total consumer loans2625242826
Total loans and leases 90 days past due (accrual)(b)
$40$33$35$36$29
Ratios
Net losses charged-off as a percent of average portfolio loans and leases (annualized)0.48 %0.49 %0.38 %0.32 %0.41 %
Allowance for credit losses:
As a percent of portfolio loans and leases2.09 %2.08 %2.12 %2.12 %2.11 %
   As a percent of nonperforming portfolio loans and leases(a)
356 %400 %349 %383 %443 %
   As a percent of nonperforming portfolio assets(a)
337 %377 %333 %362 %413 %
Nonperforming portfolio loans and leases as a percent of portfolio loans and leases(a)
0.59 %0.52 %0.61 %0.55 %0.47 %
Nonperforming portfolio assets as a percent of portfolio loans and leases and OREO(a)
0.62 %0.55 %0.64 %0.59 %0.51 %
Nonperforming assets as a percent of total loans and leases, OREO, and repossessed property0.62 %0.55 %0.64 %0.59 %0.51 %
(a) Excludes nonaccrual loans held for sale.
(b) Excludes loans held for sale.
(c) Excludes government guaranteed residential mortgage loans.


26


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.
27

Fifth Third Bancorp and Subsidiaries
Non-GAAP Reconciliation
$ and shares in millionsAs of and For the Three Months Ended
(unaudited)SeptemberJuneMarchDecemberSeptember
20242024202420232023
Net interest income$1,421$1,387$1,384$1,416$1,438
Add: Taxable equivalent adjustment66677
Net interest income (FTE) (a)1,4271,3931,3901,4231,445
Net interest income (annualized) (b)5,6535,5785,5665,6185,705
Net interest income (FTE) (annualized) (c)5,6775,6035,5915,6465,733
Interest income2,6692,6202,6082,6482,529
Add: Taxable equivalent adjustment66677
Interest income (FTE)2,6752,6262,6142,6552,536
Interest income (FTE) (annualized) (d)10,64210,56210,51310,53310,061
Interest expense (annualized) (e)4,9654,9594,9234,8884,328
Average interest-earning assets (f)195,836194,499195,349198,166192,216
Average interest-bearing liabilities (g)147,092146,361146,533146,507139,779
Net interest margin (b) / (f)2.89 %2.87 %2.85 %2.83 %2.97 %
Net interest margin (FTE) (c) / (f)2.90 %2.88 %2.86 %2.85 %2.98 %
Net interest rate spread (FTE) (d) / (f) - (e) / (g)2.05 %2.04 %2.02 %1.97 %2.13 %
Income before income taxes$728$764$658$650$846
Add: Taxable equivalent adjustment66677
Income before income taxes (FTE)734770664657853
Net income available to common shareholders532561480492623
Add: Intangible amortization, net of tax77888
Tangible net income available to common shareholders (h)539568488500631
Tangible net income available to common shareholders (annualized) (i)2,1442,2841,9631,9842,503
Average Bancorp shareholders’ equity
20,25118,70718,72717,20117,305
Less: Average preferred stock(2,116)(2,116)(2,116)(2,116)(2,116)
Average goodwill(4,918)(4,918)(4,918)(4,919)(4,919)
Average intangible assets(103)(111)(121)(130)(141)
Average tangible common equity, including AOCI (j)13,11411,56211,57210,03610,129
Less:Average AOCI3,9145,2784,9386,2445,835
Average tangible common equity, excluding AOCI (k)17,02816,84016,51016,28015,964
Total Bancorp shareholders’ equity
20,78419,22619,01819,17216,544
Less:Preferred stock(2,116)(2,116)(2,116)(2,116)(2,116)
Goodwill(4,918)(4,918)(4,918)(4,919)(4,919)
Intangible assets(98)(107)(115)(125)(136)
Tangible common equity, including AOCI (l)13,65212,08511,86912,0129,373
Less:AOCI3,4464,9014,8884,4876,839
Tangible common equity, excluding AOCI (m)17,09816,98616,75716,49916,212
Add:Preferred stock2,1162,1162,1162,1162,116
Tangible equity (n)19,21419,10218,87318,61518,328
Total assets214,318213,262214,506214,574212,967
Less:Goodwill(4,918)(4,918)(4,918)(4,919)(4,919)
Intangible assets(98)(107)(115)(125)(136)
Tangible assets, including AOCI (o)209,302208,237209,473209,530207,912
Less:AOCI, before tax4,3626,2046,1875,6808,657
Tangible assets, excluding AOCI (p)$213,664$214,441$215,660$215,210$216,569
Common shares outstanding (q)676681684681681
Tangible equity (n) / (p)8.99 %8.91 %8.75 %8.65 %8.46 %
Tangible common equity (excluding AOCI) (m) / (p)8.00 %7.92 %7.77 %7.67 %7.49 %
Tangible common equity (including AOCI) (l) / (o)6.52 %5.80 %5.67 %5.73 %4.51 %
Tangible book value per share (including AOCI) (l) / (q)$20.20$17.75$17.35$17.64$13.76
Tangible book value per share (excluding AOCI) (m) / (q)$25.29$24.94$24.50$24.23$23.81
28

Fifth Third Bancorp and Subsidiaries
Non-GAAP Reconciliation
$ in millionsFor the Three Months Ended
(unaudited)SeptemberJuneSeptember
202420242023
Net income (r)$573$601$660
Net income (annualized) (s)2,2802,4172,618
Adjustments (pre-tax items)
Valuation of Visa total return swap472310
Mastercard litigation10——
Legal settlements and remediations—18—
Restructuring severance expense9——
FDIC special assessment—6—
Adjustments, after-tax (t)(a) (b)
51378
Net interest income (FTE) (u)1,4271,3931,445
Legal settlements and remediations—5—
Adjusted net interest income (FTE) (v)1,4271,3981,445
Adjusted net interest income (FTE) (annualized) (w)5,6775,6235,733
Noninterest income (x)711695715
Valuation of Visa total return swap472310
Legal settlements and remediations—2—
Adjusted noninterest income (y)758720725
Noninterest expense (z)1,2441,2211,188
Mastercard litigation(10)——
Restructuring severance expense(9)——
Legal settlements and remediations—(11)
FDIC special assessment—(6)—
Adjusted noninterest expense (aa)1,2251,2041,188
Adjusted net income (r) + (t)624638668
Adjusted net income (annualized) (ab)2,4822,5662,650
Adjusted tangible net income available to common shareholders (h) + (t)590605639
Adjusted tangible net income available to common shareholders (annualized) (ac)2,3472,4332,535
Average assets (ad)$213,838$212,475$208,385
Return on average tangible common equity (i) / (j)16.3 %19.8 %24.7 %
Return on average tangible common equity excluding AOCI (i) / (k)12.6 %13.6 %15.7 %
Adjusted return on average tangible common equity, including AOCI (ac) / (j)17.9 %21.0 %25.0 %
Adjusted return on average tangible common equity, excluding AOCI (ac) / (k)13.8 %14.4 %15.9 %
Return on average assets (s) / (ad)1.06 %1.14 %1.26 %
Adjusted return on average assets (ab) / (ad)1.16 %1.21 %1.27 %
Efficiency ratio (FTE) (z) / [(u) + (x)]58.2 %58.5 %55.0 %
Adjusted efficiency ratio (aa) / [(v) + (y)]56.1 %56.8 %54.7 %
Net interest margin (FTE) (c) / (f)2.90 %2.88 %2.98 %
Adjusted net interest margin (FTE) (w) / (f)2.90 %2.89 %2.98 %
Total revenue (FTE) (u) + (x)$2,138$2,088$2,160
Adjusted total revenue (FTE) (v) + (y)$2,185$2,118$2,170
Pre-provision net revenue (PPNR) (u) + (x) - (z)$894$867$972
Adjusted pre-provision net revenue (PPNR) (v) + (y) - (aa)$960$914$982
Totals may not foot due to rounding.
(a) Assumes a 23% tax rate.
(b) A portion of the adjustments related to legal settlements and remediations are not tax-deductible.

29

Fifth Third Bancorp and Subsidiaries
Segment Presentation(b)
$ in millions
(unaudited)
For the three months ended September 30, 2024
Commercial BankingConsumer and Small Business Banking
Wealth
and Asset Management
General Corporate
and Other
Total
Net interest income (FTE)(a)
$673$1,031$50$(327)$1,427
Provision for credit losses(76)(78)—(6)(160)
Net interest income after provision for credit losses59795350(333)1,267
Noninterest income35728099(25)711
Noninterest expense(470)(604)(95)(75)(1,244)
Income (loss) before income taxes48462954(433)734
Applicable income tax (expense) benefit(a)
(91)(132)(12)74(161)
Net income (loss)$393$497$42$(359)$573
For the three months ended June 30, 2024
Commercial BankingConsumer and Small Business Banking
Wealth
and Asset Management
General Corporate
and Other
Total
Net interest income (FTE)(a)
$660$1,055$54$(376)$1,393
(Provision for) benefit from credit losses(137)(70)—110(97)
Net interest income after (provision for) benefit from credit losses52398554(266)1,296
Noninterest income323272982695
Noninterest expense(457)(626)(93)(45)(1,221)
Income (loss) before income taxes38963159(309)770
Applicable income tax (expense) benefit(a)
(69)(132)(12)44(169)
Net income (loss)$320$499$47$(265)$601
For the three months ended March 31, 2024
Commercial BankingConsumer and Small Business Banking
Wealth
and Asset Management
General Corporate
and Other
Total
Net interest income (FTE)(a)
$690$1,125$59$(484)$1,390
(Provision for) benefit from credit losses(71)(84)—61(94)
Net interest income after (provision for) benefit from credit losses6191,04159(423)1,296
Noninterest income32626610216710
Noninterest expense(501)(639)(103)(99)(1,342)
Income (loss) before income taxes44466858(506)664
Applicable income tax (expense) benefit(a)
(75)(141)(12)84(144)
Net income (loss)$369$527$46$(422)$520
For the three months ended December 31, 2023
Commercial BankingConsumer and Small Business Banking
Wealth
and Asset Management
General Corporate
and Other
Total
Net interest income (FTE)(a)
$812$1,190$66$(645)$1,423
(Provision for) benefit from credit losses25(81)—1(55)
Net interest income after (provision for) benefit from credit losses8371,10966(644)1,368
Noninterest income3322849137744
Noninterest expense(488)(614)(90)(263)(1,455)
Income (loss) before income taxes68177967(870)657
Applicable income tax (expense) benefit(a)
(129)(164)(15)181(127)
Net income (loss)$552$615$52$(689)$530
For the three months ended September 30, 2023
Commercial BankingConsumer and Small Business Banking
Wealth
and Asset Management
General Corporate
and Other
Total
Net interest income (FTE)(a)
$1,012$1,390$98$(1,055)$1,445
Provision for credit losses—(105)(1)(13)(119)
Net interest income after provision for credit losses1,0121,28597(1,068)1,326
Noninterest income35327494(6)715
Noninterest expense(478)(624)(90)4(1,188)
Income (loss) before income taxes887935101(1,070)853
Applicable income tax (expense) benefit(a)
(169)(196)(22)194(193)
Net income (loss)$718$739$79$(876)$660
(a) Includes taxable equivalent adjustments of $6 million for the three months ended September 30, 2024, June 30, 2024 and March 31, 2024 and $7 million for the three months ended December 31, 2023 and September 30, 2023.
(b) During the first quarter of 2024, the Bancorp eliminated certain revenue sharing agreements between Wealth and Asset Management and Consumer and Small Business Banking. Prior period results have been adjusted to reflect current presentation.
30
© Fifth Third Bancorp | All Rights Reserved Ó Fifth Third Bancorp | All Rights Reserved Fifth Third Bancorp 3Q24 Earnings Presentation October 18, 2024 Refer to earnings release dated October 18, 2024 for further information.

 
© Fifth Third Bancorp | All Rights Reserved This presentation contains statements that we believe are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Rule 175 promulgated thereunder, and Section 21E of the Securities Exchange Act of 1934, as amended, and Rule 3b-6 promulgated thereunder. All statements other than statements of historical fact are forward-looking statements. These statements relate to our financial condition, results of operations, plans, objectives, future performance, capital actions or business. They usually can be identified by the use of forward-looking language such as “will likely result,” “may,” “are expected to,” “is anticipated,” “potential,” “estimate,” “forecast,” “projected,” “intends to,” or may include other similar words or phrases such as “believes,” “plans,” “trend,” “objective,” “continue,” “remain,” or similar expressions, or future or conditional verbs such as “will,” “would,” “should,” “could,” “might,” “can,” or similar verbs. You should not place undue reliance on these statements, as they are subject to risks and uncertainties, including but not limited to the risk factors set forth in our most recent Annual Report on Form 10-K as updated by our filings with the U.S. Securities and Exchange Commission (“SEC”). There are a number of important factors that could cause future results to differ materially from historical performance and these forward-looking statements. Factors that might cause such a difference include, but are not limited to: (1) deteriorating credit quality; (2) loan concentration by location or industry of borrowers or collateral; (3) problems encountered by other financial institutions; (4) inadequate sources of funding or liquidity; (5) unfavorable actions of rating agencies; (6) inability to maintain or grow deposits; (7) limitations on the ability to receive dividends from subsidiaries; (8) cyber-security risks; (9) Fifth Third’s ability to secure confidential information and deliver products and services through the use of computer systems and telecommunications networks; (10) failures by third-party service providers; (11) inability to manage strategic initiatives and/or organizational changes; (12) inability to implement technology system enhancements; (13) failure of internal controls and other risk management programs; (14) losses related to fraud, theft, misappropriation or violence; (15) inability to attract and retain skilled personnel; (16) adverse impacts of government regulation; (17) governmental or regulatory changes or other actions; (18) failures to meet applicable capital requirements; (19) regulatory objections to Fifth Third’s capital plan; (20) regulation of Fifth Third’s derivatives activities; (21) deposit insurance premiums; (22) assessments for the orderly liquidation fund; (23) weakness in the national or local economies; (24) global political and economic uncertainty or negative actions; (25) changes in interest rates and the effects of inflation; (26) changes and trends in capital markets; (27) fluctuation of Fifth Third’s stock price; (28) volatility in mortgage banking revenue; (29) litigation, investigations, and enforcement proceedings by governmental authorities; (30) breaches of contractual covenants, representations and warranties; (31) competition and changes in the financial services industry; (32) potential impacts of the adoption of real-time payment networks; (33) changing retail distribution strategies, customer preferences and behavior; (34) difficulties in identifying, acquiring or integrating suitable strategic partnerships, investments or acquisitions; (35) potential dilution from future acquisitions; (36) loss of income and/or difficulties encountered in the sale and separation of businesses, investments or other assets; (37) results of investments or acquired entities; (38) changes in accounting standards or interpretation or declines in the value of Fifth Third’s goodwill or other intangible assets; (39) inaccuracies or other failures from the use of models; (40) effects of critical accounting policies and judgments or the use of inaccurate estimates; (41) weather-related events, other natural disasters, or health emergencies (including pandemics); (42) the impact of reputational risk created by these or other developments on such matters as business generation and retention, funding and liquidity; (43) changes in law or requirements imposed by Fifth Third’s regulators impacting our capital actions, including dividend payments and stock repurchases; and (44) Fifth Third's ability to meet its environmental and/or social targets, goals and commitments. You should refer to our periodic and current reports filed with the Securities and Exchange Commission, or “SEC,” for further information on other factors, which could cause actual results to be significantly different from those expressed or implied by these forward-looking statements. Moreover, you should treat these statements as speaking only as of the date they are made and based only on information then actually known to us. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any changes in events, conditions or circumstances on which any such statement is based, except as may be required by law, and we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. The information contained herein is intended to be reviewed in its totality, and any stipulations, conditions or provisos that apply to a given piece of information in one part of this press release should be read as applying mutatis mutandis to every other instance of such information appearing herein. Copies of those filings are available at no cost on the SEC’s website at www.sec.gov or on our website at www.53.com. Annualized, pro forma, projected and estimated numbers are used for illustrative purpose only, are not forecasts and may not reflect actual results. In this presentation, we may sometimes provide non-GAAP financial information. Please note that although non-GAAP financial measures provide useful insight to analysts, investors and regulators, they should not be considered in isolation or relied upon as a substitute for analysis using GAAP measures. We provide a discussion of non-GAAP measures and reconciliations to the most directly comparable GAAP measures in later slides in this presentation, as well as on pages 27 through 29 of our 3Q24 earnings release. Management does not provide a reconciliation for forward-looking non-GAAP financial measures where it is unable to provide a meaningful or accurate calculation or estimation of reconciling items and the information is not available without unreasonable effort. This is due to the inherent difficulty of forecasting the occurrence and the financial impact of various items that have not yet occurred, are out of the Bancorp's control or cannot be reasonably predicted. For the same reasons, Bancorp's management is unable to address the probable significance of the unavailable information. Forward-looking non-GAAP financial measures provided without the most directly comparable GAAP financial measures may vary materially from the corresponding GAAP financial measures. Cautionary statement 2

 
© Fifth Third Bancorp | All Rights Reserved Reported1 Adjusted1 EPS $0.78 $0.85 ROA 1.06% 1.16% ROE 11.7% 12.8% ROTCE 16.3% 17.9% NIM 2.90% 2.90% Efficiency ratio 58.2% 56.1% PPNR $894MM $960MM CET12 10.75% For end note descriptions, see end note summary starting on page 49 3Q24 highlights 3 • Strong profitability resulted in CET1 increasing to 10.75% while executing $200 million of share repurchases and raising common dividend by 6% • Strong fee performance driven by strategic investments • Interest-bearing liabilities costs down 1 bp compared to prior quarter • Disciplined expense management; adjusted efficiency ratio of 56.1% improved 70 bps sequentially • Generated consumer household growth of 3% compared to 3Q23, including 6% in the Southeast

 
© Fifth Third Bancorp | All Rights Reserved Peer 5 Peer 2 Peer 1 Peer 3 Peer 8 Peer 6 Peer 7 Peer 4 Peer 10 Peer 9 Peer 11 Peer 1 Peer 2 Peer 3 Peer 4 Peer 5 Peer 6 Peer 7 Peer 8 Peer 9 Peer 10 Peer 11 LTM Peer 5 Peer 2 Peer 1 Peer 11 Peer 4 Peer 3 Peer 7 Peer 8 Peer 10 Peer 6 Peer 9 Driving to consistently generate top quartile results 4 Return on tangible common equity1,2 FY18 LTM FY18 FY18 Return on assets1 Efficiency ratio1 LTM 2Q24 unless otherwise noted; Adjusted basisLTM 2Q24 unless otherwise noted; Adjusted basis LTM 2Q24 unless otherwise noted; Adjusted basis Remain focused on long-term horizon Expect to continue generating top-tier financial results3 LTM For end note descriptions, see end note summary starting on page 49 Peer 2 Peer 1 Peer 7 Peer 8 Peer 4 Peer 10 Peer 5 Peer 9 Peer 3 Peer 11 Peer 6 Peer 7 Peer 2 Peer 8 Peer 5 Peer 4 Peer 1 Peer 9 Peer 10 Peer 11 Peer 3 Peer 6 Peer 2 Peer 7 Peer 3 Peer 9 Peer 4 Peer 8 Peer 1 Peer 10 Peer 11 Peer 5 Peer 6 14.0% 15.1% 1.29% 1.22% 60.5% 56.9% 57.3% 1.20% 14.6% FITB 2Q24 FITB 3Q24 FITB 2Q24 FITB 3Q24 FITB 2Q24 FITB 3Q24

 
© Fifth Third Bancorp | All Rights Reserved $1,445 $1,393 $1,427$1,445 $1,398 $1,427 2.98% 2.89% 2.90% 3Q23 2Q24 3Q24 NII $ in millions; NIM change in bps 2Q24 to 3Q24 adjusted NII & NIM walk T o ta l n et i n te re st i n co m e; $ m il li o n s NII Adjusted NIM For end note descriptions, see end note summary starting on page 49 NII $1,3982Q24 2.89% NIM $1,427 2.90%3Q24 Securities portfolio / other short-term investments Loan balances / mix - (2) 6 1 4 1Net market rate impact Deposit / wholesale funding balances / mix 9 2 Net interest income1 (1)10 5 Day count Adjusted NII

 
© Fifth Third Bancorp | All Rights Reserved • Adjusted noninterest income1 up $31 million, or 4% • Primary drivers: ‒ Commercial banking revenue (up 13%) primarily due to increases in corporate bond fees and institutional brokerage revenue ‒ Service charges on deposits (up 3%) reflecting increases in consumer deposit fees and commercial payments revenue ‒ Leasing business revenue (up 13%) primarily driven by an increase in lease remarketing revenue • Adjusted noninterest income1 up $16 million, or 2% • Primary drivers: ‒ Wealth and asset management revenue (up 12%) primarily reflecting increases in personal asset management revenue and brokerage fees ‒ Service charges on deposits (up 8%) primarily reflecting an increase in commercial payments revenue ‒ Partially offset by leasing business revenue (down 26%) primarily due to decision to de-emphasize operating lease revenue (partially offset by a reduction in operating lease expense) Noninterest income $715 $695 $711$732 $717 $748 Noninterest income Adjusted noninterest income (excl. securities gains/losses,net)¹ 3Q23 2Q24 3Q24 3Q24 vs. 3Q23 3Q24 vs. 2Q24 For end note descriptions, see end note summary starting on page 49 T o ta l n o n in te re st i n co m e; $ m il li o n s Securities losses/(gains), net ($ in millions) 3Q23 2Q24 3Q24 Net losses/(gains) attributable to non-qualified deferred compensation plans (NQDC), offset in expenses $6 ($3) ($10) Other losses/(gains), net 1 — — Securities losses/(gains), net $7 ($3) ($10) 6

 
© Fifth Third Bancorp | All Rights Reserved • Adjusted noninterest expense1 up $37 million, or 3% • Primary drivers: ‒ Compensation and benefits expense (up 8%) ‒ Technology and communications expense (up 5%) ‒ Partially offset by marketing expense and leasing expense (down 26% and 28%, respectively) $1,188 $1,221 $1,244 $1,188 $1,204 $1,225 Noninterest expense Adjusted noninterest expense¹ 3Q23 2Q24 3Q24 T o ta l n o n in te re st e x p en se ; $ m il li o n s 3Q24 vs. 3Q23 3Q24 vs. 2Q24 For end note descriptions, see end note summary starting on page 49 Noninterest expense 7 ($ in millions) 3Q23 2Q24 3Q24 Non-qualified deferred compensation expense/(benefit), primarily offset in securities gains/losses $(5) $4 $12 • Adjusted noninterest expense1 up $21 million, or 2% • Primary drivers: ‒ Compensation and benefits (up 4%) due to higher performance- based compensation resulting from strong fee revenue ‒ Technology and communications (up 6%) ‒ Partially offset by marketing expense (down 24%)

 
© Fifth Third Bancorp | All Rights Reserved QoQ YoY — (4%) 300% 23% QoQ YoY 2% 1% (1%) (5%) QoQ YoY 5% 68% — (1%) QoQ YoY 1% — (1%) (6%) $120.1 $116.6 $116.7 $75.1 $71.8 $71.1 $45.0 $44.8 $45.5 3Q23 2Q24 3Q24 $0.5 $0.5 $0.5 $0.6 $0.5 $0.6 3Q23 2Q24 3Q24 Interest earning assets Commercial Average securities1 and short-term investmentsAverage loan & lease balances $ in billions; loan & lease balances excluding HFS Consumer Period-end loan & lease balances Period-end HFS loan & lease balances Commercial Consumer $ in billions For end note descriptions, see end note summary starting on page 49; totals shown above may not foot due to rounding % change % change % change % change $ in billions; loan & lease balances excluding HFS $ in billions 8 $0.1 $0.1$0.0 $121.6 $116.9 $116.8 $76.4 $72.2 $71.8 $45.3 $44.7 $45.1 6.18% 6.43% 6.48% Commercial Consumer Total Loan Yield 3Q23 2Q24 3Q24 $70.0 $77.2 $78.4 $57.0 $56.6 $56.7 $13.0 $20.6 $21.7 3.10% 3.27% 3.25% Securities Short-term investments Taxable securities yield 3Q23 2Q24 3Q24

 
© Fifth Third Bancorp | All Rights Reserved QoQ YoY (20%) (48%) 1% 2% $24.3 $24.2 $23.4 5.24% 5.59% 5.52% 3Q23 2Q24 3Q24 $161.4 $162.7 $165.1 $167.7 $166.8 $168.3 3Q23 2Q24 3Q24 $27.4 $23.9 $22.0 3Q23 2Q24 3Q24 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 9Total wholesale funding QoQ YoY (3%) (4%) QoQ YoY (8%) (20%) $3.5$4.7$5.9 $3.3$4.1 $6.2 Core depositsCDs > $250K QoQ YoY (26%) (41%) 1% 2% $165.6 $167.2 $167.2 $159.7 $162.4 $163.7 2.76% 3.04% 3.03% 3Q23 2Q24 3Q24

 
© Fifth Third Bancorp | All Rights Reserved • >80% of balances from clients with 5+ year tenure • Average age of household: ~13 years • 1.5 million Momentum Households (~60% of total) 69% 31% High-quality deposit franchise Commercial and consumer deposit franchise highlights Continued investment in the southeast For end note descriptions, see end note summary starting on page 49; totals shown above may not foot due to rounding 10 3Q18 2028E Midwest Southeast Commercial franchiseConsumer franchise Deposit trend vs. peers and H8 #2 #6 Midwest Southeast unchanged YoY unchanged YoY • Approaching target locational share in key SE MSAs of focus Significant locational share improvement since 2018 in key SE MSAs Deposit share rankings Naples, FL 2018 2024 Nashville, TN Fort Myers, FL Charlotte, NC Raleigh-Durham, NC #2 #6 #4 #5 #15 #1 #3 #2 #4 #4 3Q24 ~50% ~50% ~20% ~80% Branch network mix 2 • 94% of balances represented by relationships that utilized Treasury Management services • Balanced-weighted relationship age of ~24 years • Median relationship deposit balance of ~$401K Fifth Third continues to outpace the industry in deposit share growth1 FITB Peer median H8 3Q23 4Q23 1Q24 2Q24 3Q24 +1% +1% (1%) 3 Average total deposits indexed to 100; non-seasonally adjusted total deposits

 
© Fifth Third Bancorp | All Rights Reserved 74% 66% 61% 57% 48% 44% 41% 36% 35% 34% 34% 33% 10% 23% 18% 7% 19% 23% 23% 17% 47% 33% 21% 26% 13% 7% 17% 16% 27% 28% 20% 21% 18% 13% 18% 33% MSA Rankings 1-3 MSA Rankings 4-5 MSA Rankings 6-10 MSA Rankings 10+ Peer 1 Peer 2 Peer 3 Peer 4 Peer 5 Peer 6 Peer 7 Peer 8 Peer 9 Peer 10 Peer 11 Maintaining top quartile deposit density while expanding branch network in the Southeast 11 Deposit density market rank1 We continue to focus on achieving a top 5 rank in the MSAs we serve Total Top 5 For end note descriptions, see end note summary starting on page 49 84% 89% 79% 64% 67% 67% 64% 53% 82% 67% 59% 55%

 
© Fifth Third Bancorp | All Rights Reserved Net charge-offs (NCOs) $124 $96 $110 $144 $142 3Q23 4Q23 1Q24 2Q24 3Q24 For end note descriptions, see end note summary starting on page 49 Credit quality overview 12 Key metrics 3Q23 4Q23 1Q24 2Q24 3Q24 NPL ratio 0.47% 0.55% 0.61% 0.52% 0.59% NPA ratio1 0.51% 0.59% 0.64% 0.55% 0.62% 30-89 days past due as a % of portfolio loans and leases 0.26% 0.31% 0.29% 0.26% 0.24% NCO ratio 0.41% 0.32% 0.38% 0.49% 0.48% ACL ratio as a % of portfolio loans and leases 2.11% 2.12% 2.12% 2.08% 2.09% Nonperforming loans (NPLs) $570 $649 $708 $606 $686 3Q23 4Q23 1Q24 2Q24 3Q24 Portfolio loans & leases 30-89 days past due $316 $359 $342 $302 $283 3Q23 4Q23 1Q24 2Q24 3Q24 $ in millions

 
© Fifth Third Bancorp | All Rights Reserved • Drivers of $18MM decrease in ACL: ‒ Primarily due to a decline in loan balances and modest improvement in Moody's macroeconomic forecast Allowance for loan & lease losses Commercial and industrial loans Commercial mortgage loans Commercial construction loans Commercial leases Total commercial loans and leases Residential mortgage loans Home equity Indirect secured consumer loans Credit card Other consumer loans Total consumer loans Allowance for loan & lease losses Reserve for unfunded commitments1 Allowance for credit losses Allocation of allowance by product $ in millions 3Q24 Amount % of portfolio loans & leases For end note descriptions, see end note summary starting on page 49; totals shown above may not foot due to rounding Change in rate Compared to: 2Q24 3Q23 Allowance for credit losses 13 2,305 138 $2,443 1.98% 2.09% 0.02% 0.01% 0.03% (0.02%) $703 318 70 14 143 105 127 298 194 1,200 $1,105 1.38% 2.79% 1.18% 0.49% 0.83% 2.58% 4.93% 1.87% 11.39% 2.64% 1.55% (0.01%) 0.07% 0.03% (0.03%) 0.03% (0.09%) (0.11%) 0.04% 0.25% 0.01% — (0.10%) 0.31% (0.02%) (0.12%) (0.07%) (0.22%) 0.08% 0.31% (1.21%) 0.07% (0.03%) Solar energy installation loans 333 8.17% (0.01%) 0.33% • $18MM increase in ACL is primarily due to loan mix and a modest decline in Moody's macroeconomic forecast

 
© Fifth Third Bancorp | All Rights Reserved 10.62% ~33 bps (~16 bps) (~13 bps) ~6 bps ~3 bps 10.75% 2Q24 Net income to common Common dividends Share repurchases RWA Other 3Q24 14 Strong liquidity and capital position Liquidity position $ in billions Fed Reserves Unpledged Investment Securities Available FHLB Borrowing Capacity Current Fed Discount Window Availability Total ~$21 ~$22 ~$11 ~$58 ~$112 6/30/24 Capital position Common equity tier 1 ratio1 ~$21 ~$20 ~$10 ~$57 ~$107 Liquidity Sources 9/30/24 For end note descriptions, see end note summary starting on page 49; totals shown above may not foot due to rounding • Maintained full Category 1 LCR compliance during the quarter • Loan-to-core deposit ratio of 71% • For several years, we have performed: ‒ Daily LCR calculations ‒ Monthly liquidity stress tests, including two FITB-specific scenarios over and above regulatory requirements ‒ Monthly 2052a complex liquidity monitoring reporting

 
© Fifth Third Bancorp | All Rights Reserved up ~1% Noninterest expense1 stable (3Q24 baseline: $1.225 billion) Net charge-off ratio 45 - 49 bps Effective tax rate 22 - 23% For end note descriptions, see end note summary starting on page 49 As of October 18, 2024; please see cautionary statements on page 2 Total revenue1 up 1 – 2% (3Q24 baseline: $2.185 billion; Includes securities g/l) (including HFS) Avg. loans & leases stable to up 1% Current expectations 4Q24 compared to 3Q24 15 Allowance for credit losses expect ~$20 - $40MM build due to loan growth/mix and assumes no change to macroeconomic outlook and risk profile as of 3Q24 Net interest income1 Noninterest income1 up 3 – 4% (3Q24 baseline: $1.427 billion) (3Q24 baseline: $748 million)

 
© Fifth Third Bancorp | All Rights Reserved Appendix 16

 
© Fifth Third Bancorp | All Rights Reserved Midwest footprint (branch count in white) Major FITB markets2 with a top 5 deposit share London office Leading position in the markets we compete in3 Key Southeast MSAs of focus Toronto office Top performing regional bank with local scale and national reach 17 Fifth Third Corporate Headquarters Cincinnati, Ohio 249 161 99 157 66 5 40 78 11 30 176 Assets $214 billion Ranked 11th in the U.S.1 Deposits $168 billion Ranked 9th in the U.S.1 U.S. branches 1,072 Ranked 8th in the U.S.1 Commercial Payments Top 5 market share across several product categories5 Southeast footprint (branch count in white) #2 #6Midwest Southeast unchanged YoY unchanged YoY Deposit share rankings4 #3 Fifth Third footprint Significant locational share in notable MSAs Nashville, TN Charlotte, NC #3 #4 Cincinnati, OH #1 Chicago, IL #3 Top 10 deposit share in ~96% of retail footprint Columbus, OH Indianapolis, IN #3 #3 Tampa, FL #6 Grand Rapids, MI #1 For end note descriptions, see end note summary starting on page 49 unchanged YoY

 
© Fifth Third Bancorp | All Rights Reserved 18 Our ambition, purpose and core values support our commitment to generating sustainable value for stakeholders Our Purpose We make life a Fifth Third Better by inspiring our customers and communities to achieve financial well-being. Our Core Values Our Ambition To be the One Bank people most value and trust. We Commit to Excellence We are Creative We are Connected We Act Courageously Living our purpose guided by our vision and values

 
© Fifth Third Bancorp | All Rights Reserved 19 Strengthening our Communities Promoting Inclusion and Diversity Delivering our Commitment to Employees Keeping the Customer at the Center Addressing Climate Change Customer Outreach >10MM customer outreach calls continuing our heightened connection to the customer7. Household Growth 2.7% YoY consumer checking household growth Sep24 vs. Sep23. Overdraft Avoidance Low reliance on consumer fees, with consumers avoiding $49.2MM in overdraft fees with Extra Time®7 . Early Pay >$25.7BN deposited up to 2 days early with Early Pay®7. Complaints Complaints per million households dropped 13% Jan 24- Aug 24 vs. Jan 23-Aug 23. Turnover Slight decrease in overall turnover from 16.9% in 4Q23 to 16.8% in 3Q24. Purpose and Values Inspired by employee feedback, the Bank updated its Purpose and Values to capture both  who we are today and where we are headed in the future. AI Tools Deployed Copilot and related AI training to employees, providing capabilities designed to simplify tasks and enhance communications. Development Tools Launched the “Leading the Way @ Fifth Third” program to help new managers support employees at key moments in their employment journey. Sustainable Operations Continue to offset carbon emissions4 across operations Using 100% renewable electricity to power our operations 54% reduction in Scope 1 and 2 GHG emissions since 20143. Sustainable Finance >$40B in sustainable financing towards $100BN goal5 $500MM inaugural Green Bond issued in October 2021 Sustainability Performance Top quartile6 sustainability rating amongst peers Fifth Third Day 10.3MM meals provided, 25% YOY increase in volunteer hours. Volunteerism United Way Campaign currently underway volunteer events; Junior Achievement,  Adopt-A-Class and more. Enterprise BRG Membership Continues to increase with current membership; growth of 5% since January. 8th Annual Supplier Diversity Summit Tremendous success with over 200 attendees and newly introduced Innovation Summit. Supplier Diversity Spend >$122MM Tier 1 diverse supplier spend, 11.2% of net addressable spend3. Empowering Black Futures >$214MM in lending, investments, and philanthropy towards Empowering Black Futures Neighborhood Investment Program1. Community Development >$108MM provided in community development lending and investment. Charitable Giving >$19.3MM in total charitable giving. Community Service >61K hours of community service2. Fifth Third is committed to supporting customers, communities and employees Sustainability priorities and metrics For end note descriptions, see end note summary starting on page 49

 
© Fifth Third Bancorp | All Rights Reserved 20 A recognized leader in sustainability among peers For end note descriptions, see end note summary starting on page 49

 
© Fifth Third Bancorp | All Rights Reserved 21% 20% 14% 14% 8% 7% 6% 5% 5% Intentionally diversifying fee revenue to perform well in any environment • Total adjusted fee revenue accounted for ~34% of total adjusted revenue for the last twelve months ending 9/30/24 • Focused on diversified revenue to lessen cyclical impacts, with success in Wealth & Asset Management, Capital Markets, and Commercial Payments 21 Fee revenue mix is well-diversified LTM 3Q24 adjusted noninterest income mix2,3 Wealth & Asset Management Card and Processing revenue Mortgage Banking revenue Leasing Business revenue Other noninterest income Capital Markets Other Commerical Banking revenue Commercial Payments1 Consumer deposit fees Fee contribution as a percent of revenue stands out favorably relative to peers LTM 3Q24 adjusted noninterest income as a percent of adjusted revenue3 For end note descriptions, see end note summary starting on page 49 LTM 3Q24 adjusted noninterest income $2.9B 34% 27% Peer Median

 
© Fifth Third Bancorp | All Rights Reserved Peer 1 Peer 2 Peer 3 Peer 4 Peer 5 Peer 7Peer 8 Peer 9 Peer 10 Peer 11 (10)% (5)% —% 5% 10% 2% 4% 6% 8% 10% Peer 1 Peer 2 Peer 3 Peer 4 Peer 5 Peer 6 Peer 7 Peer 8 Peer 9 Peer 10 Peer 11 (10)% (5)% —% 5% 10% 15% 2% 4% 6% Peer 1 Peer 4 Peer 6 Peer 7 Peer 9 Peer 10 Peer 11 (60)% (40)% (20)% —% 20% 40% —% 1% 2% 3% C a p it a l m a rk et s h ed g in g r ev en u e2 a s a % o f a d ju st ed r ev en u e 2 Q 2 4 L T M u n le ss o th er w is e n ot ed Significant fee scale with strong organic growth For end note descriptions, see end note summary starting on page 49 Commercial payments business Wealth & asset management business Capital markets hedging business • Best-in-class product penetration while generating solid growth • Expect strong growth in commercial payments and wealth and asset management businesses through 20244 C om m er ci a l p a ym en ts r ev en u e1 a s a % o f a d ju st ed r ev en u e 2 Q 2 4 L T M u n le ss o th er w is e n ot ed Change in commercial payments revenue1 2Q24 LTM vs. 2Q23 LTM unless otherwise noted Change in wealth & asset mgmt. revenue3 2Q24 LTM vs. 2Q23 LTM unless otherwise notedW ea lt h & a ss et m g m t. r ev en u e3 a s a % o f a d ju st ed r ev en u e 2 Q 2 4 L T M u n le ss o th er w is e n ot ed Change in capital markets hedging revenue2 2Q24 LTM vs. 2Q23 LTM unless otherwise noted FITB 2Q24 LTM 3Q24 LTM 3Q24 LTM FITB 2Q24 LTM FITB 2Q24 LTM 3Q24 LTM Median is the intersect Median is the intersect Median is the intersect 22

 
© Fifth Third Bancorp | All Rights Reserved $1.2 $0.8 $0.7 $1.0 $1.3 $0.3 $0.2 $0.4 $0.6 $0.6$1.5 $1.0 $1.1 $1.6 $1.9Originations HFS Originations HFI 3Q23 4Q23 1Q24 2Q24 3Q24 $19 $20 $14 $18 $18 $79 $79 $78 $78 $77 ($2) $2 ($5) ($6) ($4) ($39) ($35) ($33) ($40) ($41) $57 $66 $54 $50 $50 Origination fees and gains on loan sale Gross servicing fees Net MSR Valuation MSR decay 3Q23 4Q23 1Q24 2Q24 3Q24 Mortgage banking results $ in millions Mortgage banking net revenue Mortgage originations and margins • Mortgage banking net revenue was stable compared to the prior quarter, reflecting an increase in net MSR valuation offset by an increase in MSR asset decay and a decrease in gross servicing fees • $1.9 billion in originations, up 19% from the prior quarter and up 27% compared to the year-ago quarter; ~81% purchase volume Note: totals shown above may not foot due to rounding $ in billions Gain-on-sale margin Gain-on-sale margin represents gains on all loans originated for sale divided by salable originations. Rate lock margin Rate lock margin represents gains recorded associated with salable rate locks divided by salable rate locks. 23 $57 $66 $54 $50Mortgage banking net revenue $50 1.45% 1.82% 1.34% 1.29% 1.53% 1.68% 1.30% 1.48% 1.11% 1.00%

 
© Fifth Third Bancorp | All Rights Reserved 24 High quality Shared National Credit portfolio $ in billions; as of 9/30/24 • Reduced balances 11% compared to 3Q23 • ~40% of SNC balances are investment grade equivalent borrowers; independently underwrite each transaction • Lead left / lead right on ~50% of relationships • Crits and NPAs are consistent or lower than the rest of commercial portfolio over a multi-year period SNC portfolio $31.2BN ~27% of total loans Shared National Credit portfolio is well diversified Industry mix Retail 18% Financial services 16% Manufacturing 11% Energy 10% TMT 9% Rental & Leasing 9% Wholesale trade 8% Other industries 19% Note: totals shown above may not foot due to rounding

 
© Fifth Third Bancorp | All Rights Reserved 13% 14% 14% 14% 15% 15% 16% 17% 22% 26% 29% 35% 37% 41% Peer 1 Peer 2 Peer 3 Peer 4 Peer 5 Peer 6 Peer 7 Peer 8 Peer 9 Peer 10 Peer 11 Peer 12 73% 73% 79% 79% 81% 84% 88% 95% 133% 142% 169% 177% 237% 276% Peer 1 Peer 2 Peer 6 Peer 5 Peer 4 Peer 3 Peer 7 Peer 8 Peer 9 Peer 10 Peer 11 Peer 12 CRE portfolio is well-positioned 25 Comparing CRE portfolios relative to peers CRE loans1 / total loans Among the lowest CRE concentration relative to peers with strong credit quality CRE loans1 / total capital FITB 2Q24 FITB 3Q24 FITB 2Q24 FITB 3Q24 CRE net charge-off ratio2 (0.02)% (0.02)% 0.01% 0.03% 0.10% 0.20% 0.27% 0.32% 0.65% 0.67% 0.93% 1.06% Peer 4 Peer 10 Peer 12 Peer 5 Peer 11 Peer 1 Peer 3 Peer 2 Peer 7 Peer 6 FITB 2Q24 LTM FITB 3Q24 LTM As of 6/30/24 unless otherwise noted As of 6/30/24 unless otherwise noted 2Q24 LTM unless otherwise noted For end note descriptions, see end note summary starting on page 49

 
© Fifth Third Bancorp | All Rights Reserved As of 9/30/24 Non-owner occupied CRE represents <10% of total loans 26 Office CRE portfolio stats $ billions $ balance % of total loans LTM NCO % NPLs / loans Multifamily $3.6 3.1% 0.00% 0.00% Industrial 1.5 1.3 0.00 0.00 Hospitality 1.4 1.2 0.00 0.00 Office 1.2 1.0 0.00 0.18 Retail 1.2 1.0 0.00 0.01 Medical Office 0.7 0.6 0.00 0.00 Other 1.6 1.4 (0.17) 0.14 Total non-owner occupied CRE $11.2 9.6% (0.02%) 0.04% Limited non-owner occupied exposure with very strong credit quality vs. PQ Average loan commitment $11.7 million 4% NCOs / average loans (LTM) 0.00% (0.03)% Delinquencies / loans 0.00% — NPL / loans 0.18% — Criticized loans / loans 10.4% 2.9% As of 3Q24; Non-owner occupied Total Bancorp loans $117BN • Office CRE of $1.2BN represents 1.0% of total loans • LTV range of 55 – 60% at origination; focus on disciplined regional and national clients with longstanding relationships • Average commit of $11.7MM; conservative underwriting limiting amount of credit extended • Currently not pursuing new Office CRE originations Additional non-owner occupied office CRE metrics Totals shown above may not foot due to rounding

 
© Fifth Third Bancorp | All Rights Reserved 3Q23 4Q23 1Q24 2Q24 3Q24 Balance, beginning of period $345 $281 $326 $372 $274 Transfers to nonaccrual status 53 93 108 51 191 Transfers to accrual status — — (1) — — Transfers to held for sale (6) — (3) — (5) Loan paydowns/payoffs (39) (20) (18) (66) (47) Transfer to OREO — — — — — Charge-offs (72) (30) (40) (83) (80) Draws/other extensions of credit — 2 — — 1 Balance, end of period $281 $326 $372 $274 $334 3Q23 4Q23 1Q24 2Q24 3Q24 Balance, beginning of period $284 $289 $323 $336 $332 Transfers to nonaccrual status 107 141 111 94 104 Transfers to accrual status (27) (24) (22) (26) (14) Transfers to held for sale — — — — — Loan paydowns/payoffs (28) (26) (23) (23) (25) Transfer to OREO (5) (7) (5) (4) (7) Charge-offs (43) (52) (49) (46) (40) Draws/other extensions of credit 1 2 1 1 2 Balance, end of period $289 $323 $336 $332 $352 NPL1 Rollforward Commercial Consumer $ in millions $ in millions $ in millions For end note descriptions, see end note summary starting on page 49 27 Total NPL $570 $649 $708 $606 $686 Total new nonaccrual loans - HFI $160 $234 $219 $145 $295 Total NPL

 
© Fifth Third Bancorp | All Rights Reserved For end note descriptions, see end note summary starting on page 49 28 3Q14 3Q15 3Q16 3Q17 3Q18 3Q19 3Q20 3Q21 3Q22 3Q23 3Q24 —% 0.25% 0.50% 0.75% 1.00% Historical net charge-off and NPA ratios Net charge-off ratio Non-performing assets ratio2 3Q14 3Q15 3Q16 3Q17 3Q18 3Q19 3Q20 3Q21 3Q22 3Q23 3Q24 —% 0.25% 0.50% 0.75% 1.00% Commercial net charge-off ratio 3Q14 3Q15 3Q16 3Q17 3Q18 3Q19 3Q20 3Q21 3Q22 3Q23 3Q24 —% 0.25% 0.50% 0.75% 1.00% 3Q14 3Q15 3Q16 3Q17 3Q18 3Q19 3Q20 3Q21 3Q22 3Q23 3Q24 —% 0.25% 0.50% 0.75% 1.00% Consumer net charge-off ratio 3Q24 0.40% 3Q24 0.48% 3Q24 0.62% 3Q24 0.62% 10 year average excluding COVID1 10 year average excluding COVID1 10 year average excluding COVID1 10 year average excluding COVID1

 
© Fifth Third Bancorp | All Rights Reserved $76.4 $74.2 $72.8 $72.2 $71.8 $75.1 $72.7 $71.9 $71.8 $71.1 3Q23 4Q23 1Q24 2Q24 3Q24 3Q23 2Q24 3Q24 NCO ratio1 0.34% 0.45% 0.40% 30-89 Delinquencies 0.10% 0.09% 0.07% 90+ Delinquencies 0.00% 0.01% 0.02% Nonperforming Loans2 0.37% 0.38% 0.47% 29 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 49; totals shown above may not foot due to rounding (1.8%) (2.8%) (1.9%) (0.8%) (0.6%) (1.6%) (3.2%) (1.1%) (0.2%) (0.9%) Commercial Portfolio Mix 72% 16% 8% 4% C&I Commercial Mortgage Commercial Construction Commercial Leases Period-endAverage

 
© Fifth Third Bancorp | All Rights Reserved $57.0 $54.6 $53.2 $52.4 $51.6 $55.8 $53.3 $52.2 $51.8 $50.9 3Q23 4Q23 1Q24 2Q24 3Q24 3Q23 2Q24 3Q24 NCO ratio1 0.45% 0.61% 0.55% 30-89 Delinquencies 0.08% 0.03% 0.06% 90+ Delinquencies 0.01% 0.01% 0.02% Nonperforming Loans2 0.47% 0.45% 0.50% 30 Portfolio loans $ in billions Period-end QoQ change Average QoQ change Key statistics Revolving Line Utilization Trend3 Commercial & industrial overview For end note descriptions, see end note summary starting on page 49; totals shown above may not foot due to rounding (2.0%) (4.2%) (2.7%) (1.6%) (1.4%) (1.9%) (4.5%) (2.0%) (0.7%) (1.8%) 36.8% 37.2% 36.8% 36.9% 35.3% 35.6% 35.3% 35.5% 36.1% 35.5% 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 Period-endAverage

 
© Fifth Third Bancorp | All Rights Reserved 52%48% 42% 18% 12% 6% 6% 3% 13% 3Q23 2Q24 3Q24 NCO ratio1 0.00% 0.01% 0.00% 30-89 Delinquencies 0.04% 0.18% 0.04% 90+ Delinquencies 0.00% 0.01% 0.02% Nonperforming Loans2 0.11% 0.23% 0.46% 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 49; totals shown above may not foot due to rounding $ in billions (0.5%) 1.2% 1.4% 0.6% 0.6% (0.9%) 1.9% — 1.2% 1.2% Multifamily OtherRetail Hospitality Office Industrial Home Builder Non-Owner Occupied Owner Occupied Multifamily 18% Retail 18% Hospitality 18% Office 15% Medical Office 12% Industrial 9% Non-owner occupied property type mix $16.8 $17.1 $17.1 $17.3 $17.5 $16.7 $16.9 $17.1 $17.2 $17.3 $5.5 $5.7 $5.7 $5.9 $6.0 $11.2 $11.3 $11.3 $11.4 $11.5 $5.6 $5.6 $5.8 $5.8 $5.9 $11.1 $11.3 $11.3 $11.4 $11.4 Average - Commercial Construction Average - Commercial Mortgage Period-End - Commercial Construction Period-End - Commercial Mortgage 3Q23 4Q23 1Q24 2Q24 3Q24 31 Other 9%

 
© Fifth Third Bancorp | All Rights Reserved 16% 16% 65% 3Q23 2Q24 3Q24 NCO ratio1 0.53% 0.57% 0.62% 30-89 Delinquencies 0.54% 0.52% 0.52% 90+ Delinquencies 0.06% 0.06% 0.06% Nonperforming Loans2 0.64% 0.74% 0.77% Weighted average FICO at origination3 765 766 767 Weighted average LTV at origination 78% 79% 79% Total consumer portfolio overview 32 Portfolio FICO score at origination3 $ in billions Portfolio loans Key statistics Period-end QoQ change Average QoQ change For end note descriptions, see end note summary starting on page 49; totals shown above may not foot due to rounding (0.7%) (1.4%) (0.2%) 0.3% 0.8% (1.2%) (1.1%) 0.2% 0.5% 1.7% 750+720-749<660 660-719 $45.3 $44.6 $44.5 $44.7 $45.1$45.0 $44.5 $44.6 $44.8 $45.5 3Q23 4Q23 1Q24 2Q24 3Q24 2% Period-endAverage

 
© Fifth Third Bancorp | All Rights Reserved 12% 15% 69% 3Q23 2Q24 3Q24 NCO ratio1 0.00% (0.01%) (0.02%) 30-89 Delinquencies 0.12% 0.15% 0.16% 90+ Delinquencies 0.03% 0.05% 0.05% Nonperforming Loans2 0.73% 0.76% 0.76% Weighted average FICO at origination3 764 764 764 Weighted average LTV at origination 72% 73% 73% Residential Mortgage overview 33 Portfolio FICO score at origination3 $ in billions Portfolio loans Key statistics Period-end QoQ change Average QoQ change For end note descriptions, see end note summary starting on page 49; totals shown above may not foot due to rounding (0.7%) (1.6%) (0.9%) 0.2% 0.2% (1.2%) (1.5%) (0.2%) 0.3% 0.7% 750+720-749<660 660-719 $17.4 $17.1 $17.0 $17.0 $17.0$17.3 $17.0 $17.0 $17.0 $17.2 3Q23 4Q23 1Q24 2Q24 3Q24 4% Period-endAverage

 
© Fifth Third Bancorp | All Rights Reserved 18% 16% 64% $3.9 $3.9 $3.9 $3.9 $4.0 $3.9 $3.9 $3.9 $4.0 $4.1 3Q23 4Q23 1Q24 2Q24 3Q24 3Q23 2Q24 3Q24 NCO ratio1 0.03% (0.05%) (0.02%) 30-89 Delinquencies 0.72% 0.66% 0.56% 90+ Delinquencies 0.00% 0.00% 0.00% Nonperforming Loans2 1.49% 1.54% 1.64% Weighted average FICO at origination3 767 768 768 Weighted average LTV at origination 67% 67% 66% Home equity overview 34 Portfolio FICO score at origination3 $ in billions Portfolio balances Key statistics Period-end QoQ change Average QoQ change For end note descriptions, see end note summary starting on page 49; totals shown above may not foot due to rounding (1.0%) 0.2% 0.7% (0.1%) 2.3% (0.3%) 0.5% (0.8%) 2.2% 2.6% 750+720-749<660 660-719 1% Period-endAverage

 
© Fifth Third Bancorp | All Rights Reserved 3Q23 2Q24 3Q24 NCO ratio1 0.47% 0.46% 0.54% 30-89 Delinquencies 0.89% 0.83% 0.77% Nonperforming Loans2 0.20% 0.23% 0.31% 81% 19% Auto Specialty Lending 19% 17% 63% Indirect secured consumer overview 35 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 49; totals shown above may not foot due to rounding $15.8 $15.1 $15.2 $15.4 $15.7$15.4 $15.0 $15.3 $15.4 $15.9 3Q23 4Q23 1Q24 2Q24 3Q24 1% (3.0%) (4.2%) 0.3% 1.3% 2.0% (4.1%) (3.0%) 2.3% 0.9% 3.2% 750+720-749<660 660-719 Period-endAverage Weighted average FICO at origination3 768 770 771 Weighted average LTV at origination 88% 88% 88%

 
© Fifth Third Bancorp | All Rights Reserved 3Q23 2Q24 3Q24 NCO ratio1 3.25% 3.98% 3.74% 30-89 Delinquencies 1.16% 1.10% 1.17% 90+ Delinquencies 1.10% 0.98% 1.06% Nonperforming Loans2 1.76% 1.79% 1.82% 27% 20% 48% Credit card overview 36 Portfolio FICO score at origination3 750+720-749<660 660-719 $ in billions Portfolio loans Key statistics Period-end QoQ change Average QoQ change For end note descriptions, see end note summary starting on page 49; totals shown above may not foot due to rounding 1.4% 1.2% (3.1%) (2.5%) (1.2%) (0.1%) 2.6% (6.9%) (0.2%) (1.7%) $1.8 $1.8 $1.8 $1.7 $1.7 $1.8 $1.9 $1.7 $1.7 $1.7 3Q23 4Q23 1Q24 2Q24 3Q24 Weighted average FICO at origination3 742 743 743 4% Period-endAverage

 
© Fifth Third Bancorp | All Rights Reserved 3.2 3.6 3.8 3.9 4.0 3.4 3.7 3.9 4.0 4.1 3Q23 4Q23 1Q24 2Q24 3Q24 15% 19% 65% 3Q23 2Q24 3Q24 NCO ratio1 0.91% 1.25% 1.44% 30-89 Delinquencies 0.27% 0.33% 0.42% Nonperforming Loans2 0.83% 1.67% 1.57% Weighted average FICO at origination3 771 772 772 Solar energy installation overview 37 Portfolio FICO score at origination $ in billions Portfolio loans Key statistics Period-end QoQ change Average QoQ change For end note descriptions, see end note summary starting on page 49; totals shown above may not foot due to rounding 16.4% 11.9% 4.5% 3.2% 1.9% 14.3% 10.2% 3.8% 2.1% 3.2% 750+720-749660-719 Period-endAverage

 
© Fifth Third Bancorp | All Rights Reserved 72% 16% 8% 4% • 56% allocation to bullet/ locked- out cash flow securities • AFS & HTM spot yield: 3.21% • AFS net unrealized pre-tax loss: $3.4BN $19.6BN fixed | $51.6BN variable 1,2 Commercial loans1,2 Balance sheet positioning 100% Fix | —% Variable 87% Fix | 13%Variable Investment portfolioConsumer loans1 Long-term debt 3 $39.3BN fixed | $6.2BN variable 1 $11.BN fixed | $6.1BN variable 3 • 1M based: 48% 4,7 • 3M based: 7% 4,7 • Prime & O/N based: 17% 4,7 • Other based: 1% 4,6,7 • Weighted avg. life: 1.7 years 1 • 1M based: 1% 5,7 • Prime: 12% 5 • Other based: 1% 5,7,8 • Weighted avg. life: 3.8 years1 • SOFR based: 36% • Weighted avg. life: 3.5 years C&I 28% Fix | 72% Variable Coml. mortgage 22% Fix | 78% Variable Coml. lease 100% Fix | 0% Variable Resi mtg.& construction 97% Fix | 3% Variable Home equity 11% Fix | 89% Variable Senior debt 53% Fix | 47% Variable Sub debt 58% Fix | 42% Variable Auto securiz. proceeds 87% Fix | 13% Variable Coml. construction 3% Fix | 97% Variable Credit card 38% Fix | 62% Variable Other 86% Fix | 14% Variable Other 98% Fix | 2% Variable Level 1 72% Fix | 28% Variable Level 2A Non-HQLA/ Other Includes $4.68BN non-agency CMBS (All super-senior, AAA-rated securities; 59.1% WA LTV, ~39% WA credit enhancement) Auto/Indirect 100% Fix | 0% Variable For end note descriptions, see end note summary starting on page 49; totals shown above may not foot due to rounding 38 35% 38% 9% 15% 3% 29% 54% 18% 61% 11% 7% 21% The information above incorporates the impact of $8BN in C&I receive-fixed swaps and ~$6BN fair value hedges associated with long-term debt (receive-fixed swaps)

 
© Fifth Third Bancorp | All Rights Reserved $1,000 $1,500 $750 $1,850 $2,050 $5,662 Fifth Third Bancorp Fifth Third Bank Fifth Third Financial Corp 2024 2025 2026 2027 2028 2029 on 54%40% 6% Consumer and Small Business Banking Commercial Banking Wealth & Asset Management 39 Unsecured debt maturities Composition of deposits by segment Holding company: • Holding Company cash as of September 30, 2024: $3.9BN • Cash on hand at Holding Company currently sufficient to satisfy all fixed obligations for ~36 months (debt maturities, common and preferred dividends, interest, and other expenses) • The Holding Company issued the following debt in 3Q24: • $750MM 6NC5 fixed-to-floating rate senior debt • The Holding Company did not have debt maturities in 3Q24 Bank entity: • The Bank did not issue or have long-term debt maturities in 3Q24 • During the quarter, Fifth Third Bank, N.A. exercised the one- year par call option on $1BN of long-term debt which will take place on October 27, 2024 • Available and contingent borrowing capacity (3Q24): ‒ FHLB ~$11.0BN available, ~$16.5BN total ‒ Federal Reserve Discount Window ~$57.5BN Period-end as of 9/30/24 Strong liquidity profile $ millions – excl. Retail Brokered & Institutional CDs

 
© Fifth Third Bancorp | All Rights Reserved Managing rate risk against conservative outcomes Estimated NII sensitivity profile and ALCO policy limits Estimated NII beta sensitivity Rate Risk models assume approximately 75-80% effective up betas and 65-70% down betas in our baseline NII sensitivity used in IRR simulations1,2 •Models are calibrated to performance in prior rate cycles •Additionally, rate risk measures assume no deposit re-pricing lags As of September 30, 2024: •50% of HFI loans were variable rate net of existing hedges (73% of total commercial; 14% of total consumer) •Short-term borrowings represent only 1% of total funding •Approximately $12.3BN in non-core funding matures beyond one year 40 % 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%) (5.2%) (5.0%) (6.0%) +100 Ramp over 12 months (1.9%) (2.4%) NA NA -100 Ramp over 12 months 1.1% 0.6% NA NA -200 Ramp over 12 months 1.8% 1.1% (5.0%) (6.0%) 5% Higher Beta 5% Lower Beta Change in interest rates (bps) 12 months 13 to 24 months 12 months 13 to 24 months +200 Ramp over 12 months (4.4%) (6.0%) (2.9%) (3.4%) +100 Ramp over 12 months (2.2%) (2.9%) (1.4%) (1.6%) -100 Ramp over 12 months 1.2% 0.9% 0.7% (0.1%) -200 Ramp over 12 months 2.1% 1.7% 1.0% (0.2%) 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%) (6.3%) (2.8%) (4.0%) +100 Ramp over 12 months (2.9%) (3.4%) (0.9%) (1.5%) -100 Ramp over 12 months 0.3% (0.1%) 1.8% 1.2% -200 Ramp over 12 months 1.1% 0.6% 2.5% 1.6% For end note descriptions, see end note summary starting on page 49

 
© Fifth Third Bancorp | All Rights Reserved Classification: Internal Use 62% 13% 25% • Includes accounts expected to reprice with market rates and time deposits ‒ ~75% of total CDs $250K or less will mature by 3/31/25 • Beta in falling rate environment: 80 – 100% • Accounts with an intermediate rate • Beta in falling rate environment: 35 – 45% 41 Interest-bearing deposit mix Stable deposit portfolio well positioned for lower rates Low beta / low cost1 Mid-beta / mid-cost2 Market priced & time deposits3 Interest-bearing deposit mix As of 9/30/24 $127BN Including: • ~$35B of indexed deposits • $9.9B of CDs $250K or less • $3.3B of CDs $250K+ • Mostly low-rate and stable consumer & relationship-based deposits • Beta in falling rate environment: ~0% For end note descriptions, see end note summary starting on page 49

 
© Fifth Third Bancorp | All Rights Reserved 42 Investment portfolio composition Investment portfolio characteristics Held-to-maturity portfolio • $11.4BN portfolio • Reclassification during 1Q24 aimed to de-risk potential AOCI volatility to capital under proposed capital rules • Securities selected for HTM meet Reg YY eligibility and inclusion requirements Available-for-sale portfolio • $43.8BN portfolio • $4.7BN Non-agency CMBS portfolio ‒ All positions are super-senior AAA rated with WA credit enhancement of 39% ‒ Securities are 20% risk-weighted and are pledgeable to the FHLB ‒ Underlying loans in our structures have a WA LTV of ~60% ‒ Credit risk team analyzes transactions at the underlying property-level, similar to what we do for all our CRE loan commitments HTM 21% AFS 79% AFS and HTM portfolio; amortized cost basis; as of 9/30/24 Amortized cost basis; as of 9/30/24 Securities mix Effective durationAgency CMBS Agency RMBS Non-agency CMBS Treasuries Other HTM 35% 44% — 21% — 5.6 AFS 55% 13% 11% 10% 12% 3.9 Total 51% 19% 8% 12% 9% 4.3 Securities portfolio Securities portfolio $55BN ~28% of interest earning assets ‒ Leverage analytical tools with over 40+ years of historical data to stress the securities at an individual property level on a recurring basis, including significant market distress in real estate valuations Totals shown above may not foot due to rounding

 
Classification: Internal Use © Fifth Third Bancorp | All Rights Reserved Projected AOCI accretion ($5.8) ($4.1) ($4.2) ($4.2) ($3.3) $1.7 $1.6 $1.6 $2.5 9/30/23 12/31/23 3/31/24 6/30/24 9/30/24 ($3.3) ($3.0) ($2.5) ($2.1) ($1.7) ($1.3) $0.3 $0.8 $1.2 $1.6 $2.0 9/30/24 12/31/24E 12/31/25E 12/31/26E 12/31/27E 12/31/28E Securities portfolio AOCI accretion 43 AOCI accretion1 $ in billions; 9/30/24 AFS and HTM portfolio unrealized loss, after-tax; assuming implied forward curve2 For end note descriptions, see end note summary starting on page 49; totals shown above may not foot due to rounding ~61% capital accretion ~24% capital accretion Assuming static rates ~58% capital accretion ~18% capital accretion ($5.8) ($4.1) ($4.2) ($4.2) ($3.3) $1.7 $1.6 $1.6 $2.5 9/30/23 12/31/23 3/31/24 6/30/24 9/30/24 ($3.3) ($3.0) ($2.5) ($2.1) ($1.7) ($1.3) $0.3 $0.8 $1.2 $1.6 $2.0 9/30/24 12/31/24E 12/31/25E 12/31/26E 12/31/27E 12/31/28E Historical AOCI accretion ~43% capital accretion since 3Q23

 
© Fifth Third Bancorp | All Rights Reserved $8 $8 $7 $6 $2 $1 $3 $8 $8 $8 $8 $8 $5 $3 $11 $11 $15 $14 $10 $9 3Q24 4Q24 1Q25 1Q30 4Q30 2Q31 3Q31 4Q31 Cash flow hedges Receive-fixed swaps1 EOP notional value of cash flow hedges ($ in billions) Actual For end note descriptions, see end note summary starting on page 49 44 Forward starting receive-fixed swaps3 Existing receive-fixed swaps4 weighted average receive fixed rate 3.44%3.17%3.05% 3.19% 3.27% 3.29% 3.32% 5 3.02%6

 
© Fifth Third Bancorp | All Rights Reserved Preferred dividend schedule 4Q24 1Q25 2Q25 3Q25 Series H ~$12 ~$11 ~$11 ~$10 Series I ~$10 ~$9 ~$9 ~$8 Series J ~$6 ~$6 ~$5 ~$5 Series K ~$3 ~$3 ~$3 ~$3 Series L ~$4 ~$4 ~$4 ~$4 Class B Series A ~$3 ~$3 ~$3 ~$3 Total ~$38 ~$36 ~$34 ~$33 Upcoming preferred dividend schedule1 $ in millions For end note descriptions, see end note summary starting on page 49; totals shown above may not foot due to rounding 45 Floating2 Floating2 Floating2

 
© Fifth Third Bancorp | All Rights Reserved 3Q24 adjustments and notable items Adjusted EPS of $0.851 For end note descriptions, see end note summary starting on page 49 3Q24 reported EPS of $0.78 included a negative $0.07 impact from the following notable items: • $47 million pre-tax (~$36 million after-tax2) charge related to the valuation of the Visa total return swap • $10 million pre-tax (~$8 million after-tax2) charge related to Mastercard litigation • $9 million pre-tax (~$7 million after-tax2) charge related to restructuring severance expense 46

 
© Fifth Third Bancorp | All Rights Reserved For end note descriptions, see end note summary starting on page 49; totals shown above may not foot due to rounding 47 Fifth Third Bancorp and Subsidiaries For the Three Months Ended $ and shares in millions September June March December September (unaudited) 2024 2024 2024 2023 2023 Net income (U.S. GAAP) (a) $573 $601 $520 $530 $660 Net income (U.S. GAAP) (annualized) (b) $2,280 $2,417 $2,091 $2,103 $2,618 Net income available to common shareholders (U.S. GAAP) (c) $532 $561 $480 $492 $623 Add: Intangible amortization, net of tax 7 7 8 8 8 Tangible net income available to common shareholders (d) $539 $568 $488 $500 $631 Tangible net income available to common shareholders (annualized) (e) $2,144 $2,284 $1,963 $1,984 $2,503 Net income available to common shareholders (annualized) (f) $2,116 $2,256 $1,931 $1,952 $2,471 Average Bancorp shareholders' equity (U.S. GAAP) (g) $20,251 $18,707 $18,727 $17,201 $17,305 Less: Average preferred stock (h) (2,116) (2,116) (2,116) (2,116) (2,116) Average goodwill (4,918) (4,918) (4,918) (4,919) (4,919) Average intangible assets and other servicing rights (103) (111) (121) (130) (141) Average tangible common equity (i) $13,114 $11,562 $11,572 $10,036 $10,129 Less: Average accumulated other comprehensive income ("AOCI") 3,914 5,278 4,938 6,244 5,835 Average tangible common equity, excluding AOCI (j) $17,028 $16,840 $16,510 $16,280 $15,964 Adjustments (pre-tax items) Valuation of Visa total return swap 47 23 17 22 10 Mastercard litigation 10 — 5 — — Restructuring severance expense 9 — — 5 — Legal settlements and remediations — 18 14 — — FDIC special assessment — 6 33 224 — Fifth Third Foundation contribution — — — 15 — Adjustments - after-tax1,2 (k) $51 $37 $55 $205 $8 Adjustments (tax related items) Tax benefit associated with resolution of certain acquisition related tax matters — — — (17) — Adjustments (tax related items) (l) — — — (17) — Adjusted net income [(a) + (k)+ (l)] $624 $638 $575 $718 $668 Adjusted net income (annualized) (m) $2,482 $2,566 $2,313 $2,849 $2,650 Adjusted net income available to common shareholders [(c) + (k) + (l)] $583 $598 $535 $680 $631 Adjusted net income available to common shareholders (annualized) (n) $2,319 $2,405 $2,152 $2,698 $2,503 Adjusted tangible net income available to common shareholders [(d) + (k) + (l)] 590 $605 $543 $688 $639 Adjusted tangible net income available to common shareholders (annualized) (o) $2,347 $2,433 $2,184 $2,730 $2,535 Average assets (p) $213,838 $212,475 $213,203 $214,057 $208,385 Metrics: Return on assets (b) / (p) 1.07% 1.14% 0.98% 0.98% 1.26% Adjusted return on assets (m) / (p) 1.16% 1.21% 1.08% 1.33% 1.27% Return on average common equity (f) / [(g) + (h)] 11.7% 13.6% 11.6% 12.9% 16.3% Adjusted return on average common equity (n) / [(g) + (h)] 12.8% 14.5% 13.0% 17.9% 16.5% Return on average tangible common equity (e) / (i) 16.3% 19.8% 17.0% 19.8% 24.7% Adjusted return on average tangible common equity (o) / (i) 17.9% 21.0% 18.9% 27.2% 25.0% Adjusted return on average tangible common equity, excluding AOCI (o) / (j) 13.8% 14.4% 13.2% 16.8% 15.9% Non-GAAP reconciliation

 
© Fifth Third Bancorp | All Rights Reserved Non-GAAP reconciliation For end note descriptions, see end note summary starting on page 49; totals shown above may not foot due to rounding 48 Fifth Third Bancorp and Subsidiaries For Three Months Ended $ and shares in millions September June March December September (unaudited) 2024 2024 2024 2023 2023 Average interest-earning assets (a) $195,836 $194,499 $195,349 $198,166 $192,216 Net interest income (U.S. GAAP) (b) $1,421 $1,387 $1,384 $1,416 $1,438 Add: Taxable equivalent adjustment 6 6 6 7 7 Net interest income (FTE) (c) $1,427 $1,393 $1,390 $1,423 $1,445 Legal settlements and remediations — 5 — — — Adjusted net interest income (FTE) (d) $1,427 $1,398 $1,390 $1,423 $1,445 Net interest income (FTE) (annualized) (e) $5,677 $5,603 $5,592 $5,646 $5,733 Adjusted net interest income (FTE) (annualized) (f) $5,677 $5,623 $5,591 $5,646 $5,733 Noninterest income (U.S. GAAP) (g) $711 $695 $710 $744 $715 Valuation of Visa total return swap 47 23 17 22 10 Legal settlements and remediations — 2 — — — Adjusted noninterest income (h) $758 $720 $727 $766 $725 Add: Securities (gains)/losses (10) (3) (10) (15) 7 Adjusted noninterest income, (excl. securities (gains)/losses) $748 $717 $717 $751 $732 Noninterest expense (U.S. GAAP) (i) $1,244 $1,221 $1,342 $1,455 $1,188 Mastercard litigation (10) — (5) — — Restructuring severance expense (9) — — (5) — Legal settlements and remediations — (11) (14) — — FDIC Special Assessment — (6) (33) (224) — Fifth Third Foundation contribution — — — (15) — Adjusted noninterest expense (j) $1,225 $1,204 $1,290 $1,211 $1,188 Metrics: Revenue (FTE) (c) + (g) 2,138 2,088 2,100 2,167 2,160 Adjusted revenue (d) + (h) 2,185 2,118 2,117 2,189 2,170 Pre-provision net revenue [(c) + (g) - (i)] 894 867 758 712 972 Adjusted pre-provision net revenue [(d) + (h) - (j)] 960 914 827 978 982 Net interest margin (FTE) (e) / (a) 2.90% 2.88% 2.86% 2.85% 2.98% Adjusted net interest margin (FTE) (f) / (a) 2.90% 2.89% 2.86% 2.85% 2.98% Efficiency ratio (FTE) (i) / [(c) + (g)] 58.2% 58.5% 63.9% 67.2% 55.0% Adjusted efficiency ratio (j) / [(d) + (h)] 56.1% 56.8% 60.9% 55.3% 54.7%

 
© 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 47 and 48 of this presentation and the use of non-GAAP measures on pages 27-29 of the earnings release. 2. Current period regulatory capital ratios are estimated. Slide 4 end notes 1. Non-GAAP measure: see reconciliation on pages 47 and 48 of this presentation and use of non-GAAP measures on pages 27-29 of the earnings release. 2. Return on tangible common equity excludes AOCI; Certain peers excluded due to limited data 3. See forward-looking statements on page 2 of this presentation regarding forward-looking non-GAAP measures and use of non-GAAP measures on pages 27-29 of the earnings release. Slide 5 end notes 1. Results are on a fully-taxable equivalent basis; non-GAAP measure: see reconciliation on pages 47 and 48 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 47 and 48 of this presentation and use of non-GAAP measures on pages 27-29 of the earnings release. Slide 7 end notes 1. Non-GAAP measure: see reconciliation on pages 47 and 48 of this presentation and use of non-GAAP measures on pages 27-29 of the earnings release. Slide 8 end notes 1. Includes taxable and tax-exempt securities. Slide 10 end notes 1. Data sourced from S&P Global Market Intelligence with deposits per branch capped at $250MM per June 2024 FDIC data; Midwest and Southeast rankings represent in footprint deposit market share. 2. Pro-forma mix including the impact of the MB acquisition 3. See forward-looking statements on page 2 of this presentation regarding forward-looking non-GAAP measures and use of non-GAAP measures on pages 27-29 of the earnings release. Slide 11 end notes Note: S&P Global Market Intelligence and company filings 1. Represents percentage of deposits (capped at $250MM) of MSA total deposit rankings per June 2024 FDIC data Slide 12 end notes 1. Excludes HFS loans. Slide 13 end notes 1. 3Q24 commercial and consumer portfolio make up ~$86M and ~$52M, respectively, of the total reserve for unfunded commitment. Slide 14 end notes 1. Current period regulatory capital ratios are estimated. Slide 15 end notes 1. Non-GAAP measure: see forward-looking statements on page 2 of this presentation regarding forward-looking non-GAAP measures and use of non-GAAP measures on pages 27-29 of the earnings release. 49 Earnings presentation end notes

 
© Fifth Third Bancorp | All Rights Reserved Earnings presentation end notes Slide 17 end notes Note: Assets, deposits, and branches as of 9/30/24 1. Rankings as of 6/30/24 and consist of US commercial banks and exclude foreign, trust, & traditional investment banks 2. Includes MSAs with $5BN+ in deposits on a capped basis (deposits per branch capped at $250MM per June 2024 FDIC data) 3. Data sourced from S&P Global Market Intelligence 4. Deposits per branch capped at $250MM per June 2024 FDIC data; Midwest and Southeast rankings represent in footprint deposit market share 5. Source: 2023 Cash Management Services Survey administered by EY Slide 19 end notes Data is for 3Q24, unless otherwise noted 1. The timeframe for $180MM Empowering Black Futures Neighborhood Investment Program is from 6/1/21 – 7/31/24. 2. January1, 2024 through August 31,2024 3. For fiscal year 2023. 4. For Scope 1, Scope 2 and business travel under Scope 3 emissions. 5. Data from 1/1/2021 through 6/30/2024. The timeframe for $100B Sustainable Finance Target is from 1/1/21 – 12/31/30 6. Peer Group comprises of Fifth Third's board approved peers. 7. January 1, 2024 through September 30, 2024 Slide 20 end notes Data is for 9/30/24, unless otherwise noted 1. Exam period ending in 2021. 2. Peer Group comprises of Fifth Third's board approved peers.1. Slide 21 end notes 1. Gross Treasury management fees 2. Excluding securities gains/losses 3. Non-GAAP measure: see reconciliation on pages 47 and 48 of this presentation and use of non-GAAP measures on pages 27-29 of the earnings release Slide 22 end notes 1. Commercial payments revenue defined as total deposit fees less consumer (OD, maintenance, and ATM fees) per regulatory filings 2. Trading revenue less equity securities and index revenue per regulatory filings 3. Wealth and asset management revenue per company filings 4. See forward-looking statements on page 2 of this presentation regarding forward-looking non-GAAP measures and use of non-GAAP measures on pages 27-29 of the earnings release Slide 25 end notes 1. Source: FR Y-9C; CRE includes the following captions within schedule HC-C: 1a - construction, land development & other land loans, 1d - secured by multifamily (5 or more) residential properties, 1e - secured by nonfarm nonresidential properties 2. Source: company filings; FCNCA and MTB excluded due to limited data Slide 27 end notes 1. Loan balances exclude nonaccrual loans HFS. Slide 28 end notes 1. Excludes 2020, 2021, and 2022 metrics. 2. Loan balances exclude nonaccrual loans HFS 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. 50

 
© Fifth Third Bancorp | All Rights Reserved Slide 30 end notes 1. Net losses charged-off as a percent of average portfolio loans and leases presented on an annualized basis. 2. Nonperforming portfolio loans and leases as a percent of portfolio loans and leases. 3. Total commercial portfolio line utilization. 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. 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 & home equity loans, and ~$80 million of credit loans on book primarily ~15+ years. Slide 33 end notes 1. Net losses charged-off as a percent of average portfolio loans and leases presented on an annualized basis. 2. Nonperforming portfolio loans and leases as a percent of portfolio loans and leases. 3. FICO distributions at origination exclude certain acquired mortgage 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. 3. FICO distributions at origination exclude certain acquired home equity loans. Slide 35 end notes 1. Net losses charged-off as a percent of average portfolio loans and leases presented on an annualized basis. 2. Nonperforming portfolio loans and leases as a percent of portfolio loans and leases. Slide 36 end notes 1. Net losses charged-off as a percent of average portfolio loans and leases presented on an annualized basis. 2. Nonperforming portfolio loans and leases as a percent of portfolio loans and leases. 3. FICO distributions at origination exclude ~$80 million from credit loans on book primarily ~15+ years. Slide 37 end notes 1. Net losses charged-off as a percent of average portfolio loans and leases presented on an annualized basis. 2. Nonperforming portfolio loans and leases as a percent of portfolio loans and leases. Slide 38 end notes Note: Data as of 9/30/2024. 1. Excludes HFS Loans & Leases. 2. Fifth Third had $8B of commercial variable loans classified as fixed given the impacts of $8BN in C&I receive-fix swaps; Excludes forward starting swaps & floors; Excludes $3BN in out-of-the-money floors with a 2.25% 1ML strike currently on the balance sheet. 3. Fifth Third had $5.96BN SOFR receive-fix swaps outstanding against long-term debt, which are being included in floating long-term debt. 4. As a percent of total commercial. 5. As a percent of total consumer. 6. Includes 12M term, 6M term, and Fed Funds based loans. 7. Term points include SOFR, BSBY, AMERIBOR, Treasuries & FX curves. 8. Includes overnight term, 3M term, 6M term, 12M term and Fed Funds. 51 Earnings presentation end notes

 
© Fifth Third Bancorp | All Rights Reserved 52 Earnings presentation end notes Slide 40 end notes Note: Data as of 9/30/24; actual results may vary from these simulated results due to differences between forecasted and actual balance sheet composition, timing, magnitude, and frequency of interest rate changes, as well as other changes in market conditions and management strategies. 1. Re-pricing percentage or “beta” is the estimated change in yield after the 12-month ramp scenarios are fully realized and therefore reflects year-2. 2. Betas are asymmetrical as down betas assume a floor of 0%, along with rate floors, and up betas assumes a cap of 100% Slide 41 end notes 1. Includes deposits with a rate below 100 bps and time deposits with remaining maturity of more than 12 months 2. Comprised of deposits with a rate between 100 – 400 bps and time deposits maturing in the next 6 – 12 months 3. Includes deposits with a rate above 400 bps and corporate sweep deposits, CDs $250K or less maturing in the next 6 months, and CDs over $250K Slide 43 end notes 1. See forward-looking statements on page 2 of this presentation regarding forward-looking non-GAAP measures and use of non-GAAP measures on pages 27-29 of the earnings release. 2. Analysis based on 9/30/2024 portfolio utilizing the implied forward curve as of 9/30/2024 Slide 44 end notes 1. Represents forward looking statement, please refer to page 2 of this presentation regarding forward-looking non-GAAP measures 2. Effective July 1, 2023 the rate index transitioned from 1-month LIBOR to compound SOFR + 11.448 bps 3. Forward starting swaps are receive fixed / pay compound SOFR + 11.448 bps 4. Existing swaps transition from receive fixed / pay 1-month LIBOR to receive fixed / pay compound SOFR + 11.448 bps on their next post-LIBOR cessation resets 5. $3BN floors mature on 12/16/2024. 6. Reflects the weighted average receive fixed rate (swaps only) as of 9/30/24 Slide 45 end notes 1. Represents forward looking statement, please refer to page 2 of this presentation regarding forward-looking non-GAAP measures. 2. Projected dividends for the Series J, Series H, and Series I reflect 3m Term SOFR plus the applicable spread. For the periods referencing 3m Term SOFR, the projections include the 26.161bps spread adjustment pursuant to the final rule adopted by the Federal Reserve. Slide 46 end notes 1. Average diluted common shares outstanding (thousands); 686,109; all adjusted figures are non-GAAP measures; see reconciliation on pages 47 and 48 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 47 end notes Note: See pages 27-29 of the earnings release for a discussion on the use of non-GAAP financial measures. 1. Assumes a 23% tax rate. 2. A portion of the adjustments related to legal settlements and remediations is non tax deductible. Slide 48 end notes Note: See pages 27-29 of the earnings release for a discussion on the use of non-GAAP financial measures.

 
v3.24.3
Cover Page
Oct. 18, 2024
Entity Information [Line Items]  
Document Type 8-K
Document Period End Date Oct. 18, 2024
Entity Registrant Name Fifth Third Bancorp
Amendment Flag false
Entity Central Index Key 0000035527
Entity Incorporation, State or Country Code OH
Entity File Number 001-33653
Entity Tax Identification Number 31-0854434
Entity Address, Address Line One Fifth Third Center
Entity Address, Address Line Two 38 Fountain Square Plaza
Entity Address, City or Town Cincinnati
Entity Address, State or Province OH
Entity Address, Postal Zip Code 45263
City Area Code 800
Local Phone Number 972-3030
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Entity Emerging Growth Company false
Common Stock  
Entity Information [Line Items]  
Title of 12(b) Security Common Stock, Without Par Value
Trading Symbol FITB
Security Exchange Name NASDAQ
Depositary Shares Representing a 1/1000th Ownership Interest in a Share of 6.625% Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series I  
Entity Information [Line Items]  
Title of 12(b) Security Depositary Shares Representing a 1/1000th Ownership Interest in a Share of 6.625% Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock
Trading Symbol FITBI
Security Exchange Name NASDAQ
Depositary Shares Representing a 1/40th Ownership Interest in a Share of 6.00% Non-Cumulative Perpetual Class B Preferred Stock, Series A  
Entity Information [Line Items]  
Title of 12(b) Security Depositary Shares Representing a 1/40th Ownership Interest in a Share of 6.00% Non-Cumulative Perpetual Class B Preferred Stock, Series A
Trading Symbol FITBP
Security Exchange Name NASDAQ
Depositary Shares Representing a 1/1000th Ownership Interest in a Share of 4.95% Non-Cumulative Perpetual Preferred Stock, Series K  
Entity Information [Line Items]  
Title of 12(b) Security Depositary Shares Representing a 1/1000th Ownership Interest in a Share of 4.95% Non-Cumulative Perpetual Preferred Stock, Series K
Trading Symbol FITBO
Security Exchange Name NASDAQ
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