Material Event (Form 8-K)

						Key Financial Data						2Q26			1Q26			2Q25						Second Quarter 2026 Highlights
Income Statement						($s in millions)																		■EPS of $1.30; ROTCE of 13.9% -Continued strong Private Bank progress, contributing $0.15 to EPS, up from $0.11 in 1Q26 ■PPNR of $889 million, up 13% QoQ, up 24% YoY -NII up 4.4% QoQ, with NIM up 3 bps to 3.17%; YoY NII up 14%, with NIM up 22 bps -Fees up 8% QoQ, up 9% YoY driven by Capital Markets and Wealth -Positive operating leverage of 4.1% QoQ and 6.4% YoY ■Loans up 3% on a spot basis and 2% on an average basis QoQ, with growth led by Commercial and Private Bank ■Continuing favorable credit trends; net charge-offs of 37 bps, down 2 bps QoQ ■Strong ACL coverage of 1.48% ■Average deposits up $2.3 billion, or 1% QoQ, driven by growth in Private Bank and retail low-cost categories -Private Bank spot deposits of $17.8 billion -Total deposit costs well controlled, up 3 bps QoQ ■Strong liquidity profile; spot LDR of 79.5% ■Strong CET1 ratio of 10.4% ■TBV/share of $38.29, up 1% QoQ
						Total revenue						$	2,283		$	2,168		$	2,037
						Pre-provision profit						889			790			718
						Provision for credit losses						134			140			164
						Net income						587			517			436
			Balance Sheet & Credit Quality						($s in billions)
									Period-end loans and leases						$	147.5		$	143.7		$	139.3
									Average loans and leases						146.1			143.4			138.8
									Period-end deposits						185.6			184.0			175.1
									Average deposits						183.6			181.3			174.1
									Loan-to-deposit ratio (spot)						79.5		%	78.1		%	79.6		%
						NCO ratio						0.37		%	0.39		%	0.48		%
Financial Metrics						Diluted EPS						$	1.30		$	1.13		$	0.92
						ROTCE						13.9		%	12.2		%	11.0		%
						Net interest margin, FTE						3.17			3.14			2.95
						Efficiency ratio						61.1			63.6			64.8
						CET1						10.4		%	10.5		%	10.6		%
						TBV/Share						$	38.29		$	37.94		$	35.23

Citizens also announced that its board of directors declared a quarterly common stock dividend of $0.46 per share. The dividend is payable on August 13, 2026 to shareholders of record at the close of business on July 30, 2026.

Citizens Financial Group, Inc.

Earnings highlights(1):

						Quarterly Trends
																		2Q26 change from
($s in millions, except per share data)						2Q26			1Q26			2Q25						1Q26									2Q25
Earnings																		$/bps/%			%						$/bps/%			%
Net interest income						$	1,631		$	1,562		$	1,437					$	69		4		%				$	194		14		%
Noninterest income						652			606			600						46			8						52			9
Total revenue						2,283			2,168			2,037						115			5						246			12
Noninterest expense						1,394			1,378			1,319						16			1						75			6
Pre-provision profit						889			790			718						99			13						171			24
Provision for credit losses						134			140			164						(6)			(4)						(30)			(18)
Net income						587			517			436						70			14						151			35
Preferred dividends/other						33			33			34						-			-						(1)			(3)
Net income available to common stockholders						$	554		$	484		$	402					$	70		14		%				$	152		38		%
Average common shares outstanding
Basic (in millions)						422.9			425.3			433.6						(2.5)			(1)						(10.8)			(2)
Diluted (in millions)						426.7			429.9			436.5						(3.2)			(1)						(9.9)			(2)
Diluted earnings per share						1.30			1.13			0.92						0.17			15						0.38			41
Performance metrics
Net interest margin						3.16		%	3.14		%	2.94		%				2		bps							22		bps
Net interest margin, FTE						3.17			3.14			2.95						3									22
Effective income tax rate						22.3			20.5			21.4						183									92
Efficiency ratio						61.1			63.6			64.8						(247)									(368)
Return on average tangible common equity						13.9			12.2			11.0						172									286
Return on average total tangible assets						1.06		%	0.97		%	0.83		%				9		bps							23		bps
Capital adequacy(2,3)
Common equity tier 1 capital ratio						10.4		%	10.5		%	10.6		%
Total capital ratio						13.6			13.7			13.8
Tier 1 leverage ratio						9.2			9.3			9.4
Tangible common equity ratio						7.2			7.3			7.2
Allowance for credit losses to loans and leases						1.48		%	1.52		%	1.59		%				(4)		bps							(11)		bps
Asset quality(3)
Nonaccrual loans and leases to loans and leases						0.97		%	1.04		%	1.09		%				(7)		bps							(12)		bps
Allowance for credit losses to nonaccrual loans and leases						152			146			145						6		%							7		%
Net charge-offs as a % of average loans and leases						0.37		%	0.39		%	0.48		%				(2)		bps							(11)		bps

(1) Unless otherwise noted, references to balance sheet items are on an average basis, loans exclude loans held for sale, earnings per share

represent fully diluted per common share and references to NIM are on a FTE basis.

(2) Current reporting-period regulatory capital ratios are preliminary.

(3) Capital adequacy and asset-quality ratios calculated on a period-end basis, except net charge-offs.

2

Citizens Financial Group, Inc.

Consolidated balance sheet summary(1):

																								2Q26 change from
($s in millions)						2Q26						1Q26						2Q25						1Q26									2Q25
																								$/bps			%						$/bps			%
Total assets						$	233,836					$	227,918					$	218,310					$	5,918		3		%				$	15,526		7		%
Total loans and leases						147,491						143,667						139,304						3,824			3						8,187			6
Total loans held for sale						1,458						1,537						2,093						(79)			(5)						(635)			(30)
Deposits						185,620						184,035						175,086						1,585			1						10,534			6
Stockholders' equity						26,183						26,172						25,234						11			-						949			4
Stockholders' common equity						24,072						24,061						23,121						11			-						951			4
Tangible common equity						$	16,185					$	16,165					$	15,246					$	20		-		%				$	939		6		%
Loan-to-deposit ratio (period-end)(2)						79.5		%				78.1		%				79.6		%				139		bps							(10)		bps
Loan-to-deposit ratio (average)(2)						79.6		%				79.1		%				79.7		%				49		bps							(14)		bps
(1) Represents period-end unless otherwise noted.
(2) Excludes loans held for sale.

3

Citizens Financial Group, Inc.

Discussion of results:

Net interest income																								2Q26 change from
($s in millions)						2Q26						1Q26						2Q25						1Q26												2Q25
																								$/bps						%						$/bps						%
Interest income:
Interest and fees on loans and leases and loans held for sale						$	1,994					$	1,905					$	1,887					$	89					5		%				$	107					6		%
Investment securities						446						424						428						22						5						18						4
Interest-bearing deposits in banks						103						91						92						12						13						11						12
Total interest income						$	2,543					$	2,420					$	2,407					$	123					5		%				$	136					6		%
Interest expense:
Deposits						$	747					$	715					$	802					$	32					4		%				$	(55)					(7)		%
Short-term borrowed funds						9						4						9						5						125						-						-
Long-term borrowed funds						156						139						159						17						12						(3)						(2)
Total interest expense						$	912					$	858					$	970					$	54					6		%				$	(58)					(6)		%
Net interest income						$	1,631					$	1,562					$	1,437					$	69					4		%				$	194					14		%
Net interest margin, FTE						3.17		%				3.14		%				2.95		%				3		bps										22		bps

Second quarter 2026			vs.			first quarter 2026

Net interest income of $1.6 billion increased 4.4%, reflecting a higher net interest margin along with a 2% increase in average interest-earning assets.

•Net interest margin of 3.17% increased 3 basis points, reflecting the benefit of lower terminated swap impacts and Non-Core runoff, and fixed-rate asset repricing, partially offset by increased funding costs.

•Interest-bearing deposit costs increased 4 basis points to 2.08%; total deposit costs increased 3 basis points to 1.63%; total cost of funds increased 5 basis points to 1.85%.

Second quarter 2026			vs.			second quarter 2025

Net interest income of $1.6 billion increased 14%, primarily reflecting a higher net interest margin, as well as a 5% increase in interest-earning assets.

•Net interest margin of 3.17% increased 22 basis points, largely driven by the benefit of terminated swap impacts and Non-Core runoff, fixed-rate asset repricing and improved funding costs, partially offset by lower asset yields.

4

Citizens Financial Group, Inc.

Noninterest Income																								2Q26 change from
($s in millions)						2Q26						1Q26						2Q25						1Q26												2Q25
																								$						%						$						%
Service charges and fees						$	117					$	112					$	111					$	5					4		%				$	6					5		%
Capital markets fees						153						134						105						19						14						48						46
Wealth fees						102						100						88						2						2						14						16
Card fees						89						83						90						6						7						(1)						(1)
Mortgage banking fees						42						42						73						-						-						(31)						(42)
Foreign exchange and derivative products						47						44						41						3						7						6						15
Letter of credit and loan fees						52						50						45						2						4						7						16
Securities gains, net						6						7						5						(1)						(14)						1						20
Other income(1)						44						34						42						10						29						2						5
Noninterest income						$	652					$	606					$	600					$	46					8		%				$	52					9		%
(1) Includes bank-owned life insurance income and other miscellaneous income for all periods presented.

Second quarter 2026			vs.			first quarter 2026

Noninterest income of $652 million increased $46 million, or 8%.

•Service charges and fees increased $5 million, primarily from seasonality and growth in account and cash management fees.

•Capital markets fees increased $19 million to $153 million, a record for the second quarter, reflecting higher loan syndication and debt and equity underwriting fees.

•Wealth fees increased $2 million to $102 million, a new record, reflecting higher advisory fees.

•Card fees increased $6 million, reflecting increased seasonal spend across credit and debit cards.

•FX and derivative products increased $3 million, primarily given higher interest rate and FX hedging activity, partially offset by a decline in commodities hedging activity.

•Mortgage banking fees are stable as higher servicing revenue was offset by lower production revenue.

•Other income increased $10 million, reflecting several modest revenue items.

Second quarter 2026			vs.			second quarter 2025

Noninterest income of $652 million increased $52 million, or 9%.

•Service charges and fees increased $6 million, primarily driven by higher cash management fees.

•Capital markets fees increased $48 million, driven by higher M&A, loan syndication and debt underwriting fees.

•Wealth fees increased $14 million, primarily from growth in AUM, reflecting net inflows and market appreciation.

•Mortgage banking fees decreased $31 million, largely reflecting lower MSR valuation results, net of hedge impact.

5

Citizens Financial Group, Inc.

Noninterest Expense																								2Q26 change from
($s in millions)						2Q26						1Q26						2Q25						1Q26									2Q25
																								$			%						$			%
Salaries and employee benefits						$	745					$	758					$	681					$	(13)		(2)		%				$	64		9		%
Equipment and software						195						197						193						(2)			(1)						2			1
Outside services						174						162						169						12			7						5			3
Occupancy						108						114						108						(6)			(5)						-			-
Other operating expense						172						147						168						25			17						4			2
Noninterest expense						$	1,394					$	1,378					$	1,319					$	16		1		%				$	75		6		%

Second quarter 2026			vs.			first quarter 2026

Noninterest expense of $1.4 billion increased 1%.

•Salaries and employee benefits decreased $13 million, primarily reflecting lower payroll taxes given seasonality.

•Outside services increased $12 million, largely due to higher technology-related costs.

•Occupancy decreased $6 million, largely reflecting lower branch maintenance costs.

•Other operating expense increased $25 million, reflecting higher insurance and various other modest expense items.

The effective tax rate of 22.3% in second quarter 2026 compares with 20.5% in first quarter 2026. The lower first quarter tax rate reflected the recognition of discrete tax benefits.

Second quarter 2026			vs.			second quarter 2025

Noninterest expense of $1.4 billion increased 6%.

•Salaries and employee benefits increased $64 million, reflecting hiring related to the Private Bank and Private Wealth buildout, and compensation associated with growth in Capital Markets fees.

•Outside services increased $5 million, primarily driven by costs to implement the Reimagine the Bank program.

•Other operating expense increased $4 million, reflecting the impact of various sundry items.

The effective tax rate was 22.3% in second quarter 2026 compared with 21.4% in second quarter 2025.

6

Citizens Financial Group, Inc.

Interest-earning assets															2Q26 change from
($s in millions)			2Q26			1Q26			2Q25						1Q26												2Q25
Period-end interest-earning assets															$						%						$						%
Investments			$	46,345		$	45,218		$	43,899					$	1,127					2		%				$	2,446					6		%
Interest-bearing deposits in banks			12,648			12,076			8,121						572						5						4,527						56
Commercial loans and leases			77,284			74,589			71,642						2,695						4						5,642						8
Retail loans			70,207			69,078			67,662						1,129						2						2,545						4
Total loans and leases			147,491			143,667			139,304						3,824						3						8,187						6
Loans held for sale			1,458			1,537			2,093						(79)						(5)						(635)						(30)
Total loans and leases and loans held for sale			148,949			145,204			141,397						3,745						3						7,552						5
Total period-end interest-earning assets			$	207,942		$	202,498		$	193,417					$	5,444					3		%				$	14,525					8		%
Average interest-earning assets(1)
Investments			$	48,088		$	46,929		$	46,538					$	1,159					2		%				$	1,550					3		%
Interest-bearing deposits in banks			10,839			10,079			8,217						760						8						2,622						32
Commercial loans and leases			76,548			74,541			71,423						2,007						3						5,125						7
Retail loans			69,580			68,869			67,386						711						1						2,194						3
Total loans and leases			146,128			143,410			138,809						2,718						2						7,319						5
Loans held for sale			1,715			1,511			2,754						204						14						(1,039)						(38)
Total loans and leases and loans held for sale			147,843			144,921			141,563						2,922						2						6,280						4
Total average interest-earning assets			$	206,770		$	201,929		$	196,318					$	4,841					2		%				$	10,452					5		%
(1) Total average interest-earning assets excludes the mark-to-market on investment securities and unsettled purchases or sales of loans and investments.

Second quarter 2026			vs.			first quarter 2026

Period-end interest-earning assets of $207.9 billion increased $5.4 billion, or 3%, reflecting a $1.1 billion increase in investments in securities and 3% growth in loans and leases. Total loans and leases increased $3.8 billion, as growth in the Private Bank, net new money originations in corporate banking and higher commercial line utilization, as well as growth in home equity and mortgage, were partially offset by commercial real estate paydowns and the runoff of Non-Core loans.

Average interest-earning assets of $206.8 billion increased $4.8 billion, or 2%, reflecting a $2.7 billion increase in total loans and leases, as well as $1.2 billion increase in investments and $760 million increase in cash held in interest-bearing deposits.

The average effective duration of the securities portfolio was 4.1 years, compared with 4.0 years at March 31, 2026 and 3.7 years at June 30, 2025.

Second quarter 2026			vs.			second quarter 2025

Period-end interest-earning assets of $207.9 billion increased $14.5 billion, or 8%, reflecting a $2.4 billion increase in investments in securities, a $4.5 billion increase in cash held in interest-bearing deposits and a $7.6 billion increase in total loans and leases and loans held for sale. The increase in total loans and leases and loans held for sale was largely driven by $5.6 billion of growth in commercial, given net new money originations in corporate banking and higher commercial line utilization, as well as growth in the Private Bank, partially offset by commercial real estate paydowns. Retail also grew $2.5 billion, reflecting growth in home equity and mortgage, partially offset by Non-Core portfolio runoff.

Average interest-earning assets of $206.8 billion increased $10.5 billion, primarily reflecting a $6.3 billion increase in total loans and leases and loans held for sale, as well as $2.6 billion increase in cash held in interest-bearing deposits and a $1.6 billion increase in investments in securities.

7

Citizens Financial Group, Inc.

Deposits															2Q26 change from
($s in millions)			2Q26			1Q26			2Q25						1Q26												2Q25
Period-end deposits															$						%						$						%
Noninterest-bearing demand			$	40,939		$	41,672		$	38,001					$	(733)					(2)		%				$	2,938					8		%
Checking with interest			40,258			37,675			34,918						2,583						7						5,340						15
Savings			23,570			24,114			25,400						(544)						(2)						(1,830)						(7)
Money market			60,029			59,611			55,638						418						1						4,391						8
Time			20,824			20,963			21,129						(139)						(1)						(305)						(1)
Total period-end deposits			$	185,620		$	184,035		$	175,086					$	1,585					1		%				$	10,534					6		%
Average deposits
Noninterest-bearing demand			$	39,881		$	39,286		$	37,350					$	595					2		%				$	2,531					7		%
Checking with interest			38,632			37,027			33,847						1,605						4						4,785						14
Savings			23,780			24,095			25,536						(315)						(1)						(1,756)						(7)
Money market			60,295			60,141			54,716						154						-						5,579						10
Time			21,032			20,766			22,679						266						1						(1,647)						(7)
Total average deposits			$	183,620		$	181,315		$	174,128					$	2,305					1		%				$	9,492					5		%

Second quarter 2026			vs.			first quarter 2026

Total period-end deposits of $185.6 billion are up 1%, with growth in the Private Bank and Commercial. Private Bank deposits increased 7% to $17.8 billion at the end of second quarter 2026.

Average deposits of $183.6 billion increased 1%, primarily reflecting growth in the Private Bank, and in retail, primarily low-cost categories.

Second quarter 2026			vs.			second quarter 2025

Total period-end deposits of $185.6 billion increased 6%, primarily reflecting growth in the Private Bank of $9.1 billion, and $1.5 billion in Commercial, partially offset by a $0.4 billion reduction in higher-cost Treasury brokered deposits.

Average deposits of $183.6 billion were up 5%.

8

Citizens Financial Group, Inc.

Borrowed Funds															2Q26 change from
($s in millions)			2Q26			1Q26			2Q25						1Q26												2Q25
Period-end borrowed funds															$						%						$						%
Short-term borrowed funds			$	1,159		$	54		$	249					$	1,105					NM						$	910					NM
Long-term borrowed funds
FHLB advances			5,763			2,513			1,542						3,250						129						4,221						NM
Senior debt			7,078			7,076			6,821						2						-						257						4
Subordinated debt and other debt			1,421			1,419			1,752						2						-						(331)						(19)
Auto collateralized borrowings			928			1,252			2,411						(324)						(26)						(1,483)						(62)
Total borrowed funds			$	16,349		$	12,314		$	12,775					$	4,035					33		%				$	3,574					28		%
Average borrowed funds
Short-term borrowed funds			$	989		$	454		$	925					$	535					118 %						$	64					7		%
Long-term borrowed funds
FHLB advances			3,538			1,408			1,063						2,130						151 %						2,475						233
Senior debt			7,078			6,843			7,042						235						3						36						1
Subordinated debt and other debt			1,419			1,415			1,759						4						-						(340)						(19)
Auto collateralized borrowings			1,077			1,409			2,635						(332)						(24)						(1,558)						(59)
Total average borrowed funds			$	14,101		$	11,529		$	13,424					$	2,572					22		%				$	677					5		%

Second quarter 2026			vs.			first quarter 2026

Period-end borrowed funds increased $4.0 billion, primarily reflecting an increase in FHLB advances, partially offset by a decrease in collateralized borrowings on auto loans as the associated portfolio runs down.

Average borrowed funds increased $2.6 billion, driven primarily by an increase in FHLB advances, as well as an increase in senior debt as a result of issuance in the first quarter, partially offset by a decrease in auto collateralized borrowings.

Second quarter 2026			vs.			second quarter 2025

Period-end borrowed funds were up $3.6 billion, primarily reflecting an increase in FHLB advances, partially offset by the decrease in auto collateralized borrowings, given runoff of the associated portfolio.

Average borrowed funds increased by $677 million, given the increase in FHLB advances, largely offset by the decrease in auto collateralized borrowings.

9

Citizens Financial Group, Inc.

Capital															2Q26 change from
($s and shares in millions, except per share data)			2Q26			1Q26			2Q25						1Q26												2Q25
Period-end capital															$						%						$						%
Stockholders' equity			$	26,183		$	26,172		$	25,234					$	11					-		%				$	949					4		%
Stockholders' common equity			24,072			24,061			23,121						11						-						951						4
Tangible common equity			16,185			16,165			15,246						20						-						939						6
Tangible book value per common share			$	38.29		$	37.94		$	35.23					$	0.35					1		%				$	3.06					9		%
Common shares - at end of period			422.7			426.0			432.8						(3.3)						(1)						(10.1)						(2)
Common shares - average (diluted)			426.7			429.9			436.5						(3.2)						(1)		%				(9.9)						(2)		%
Common equity tier 1 capital ratio(1)			10.4		%	10.5		%	10.6		%
Total capital ratio(1)			13.6			13.7			13.8
Tangible common equity ratio			7.2			7.3			7.2
Tier 1 leverage ratio(1)			9.2			9.3			9.4
(1) Current reporting-period regulatory capital ratios are preliminary.

Second quarter 2026

•The CET1 capital ratio of 10.4% as of June 30, 2026 compares with 10.5% at March 31, 2026 and 10.6% at June 30, 2025.

•Total capital ratio of 13.6% compares with 13.7% at March 31, 2026 and 13.8% as of June 30, 2025.

•Tangible common equity ratio of 7.2% compares with 7.3% at March 31, 2026 and 7.2% as of June 30, 2025.

•Tangible book value per common share of $38.29, up 1% compared with first quarter 2026, and up 9% versus second quarter 2025.

•Total capital returned to shareholders was $422 million in second quarter 2026.

◦Paid $197 million in common dividends to shareholders during second quarter 2026. This compares with $198 million in common dividends during first quarter 2026 and $185 million during second quarter 2025.

◦Repurchased $225 million of common shares during second quarter 2026, compared with $300 million in first quarter 2026 and $200 million in second quarter 2025.

10

Citizens Financial Group, Inc.

Credit quality review																								2Q26 change from
($s in millions)						2Q26						1Q26						2Q25						1Q26												2Q25
																								$/bps/%						%						$/bps/%						%
Nonaccrual loans and leases(1)						$	1,435					$	1,497					$	1,524					$	(62)					(4)		%				$	(89)					(6)		%
90+ days past due and accruing(2)						183						208						194						(25)						(12)						(11)						(6)
Net charge-offs						135						138						167						(3)						(2)						(32)						(19)
Provision for credit losses						134						140						164						(6)						(4)						(30)						(18)
Allowance for credit losses						$	2,184					$	2,185					$	2,209					$	(1)					-		%				$	(25)					(1)		%
Nonaccrual loans and leases to loans and leases						0.97		%				1.04		%				1.09		%				(7)		bps										(12)		bps
Net charge-offs as a % of total loans and leases						0.37						0.39						0.48						(2)												(11)
Allowance for credit losses to loans and leases						1.48						1.52						1.59						(4)												(11)
Allowance for credit losses to nonaccrual loans and leases						152		%				146		%				145		%				6		%										7		%
(1) Loans fully or partially guaranteed by the FHA, VA and USDA are classified as accruing.
(2) 90+ days past due and accruing includes $172 million, $179 million, and $128 million of loans fully or partially guaranteed by the FHA, VA, and USDA for June 30, 2026, March 31, 2026, and June 30, 2025, respectively.

Second quarter 2026			vs.			first quarter 2026

•Nonaccrual loans of $1.4 billion decreased 4%, driven by a decrease in commercial real estate, as we continue to workout the General Office portfolio. The nonaccrual loans to total loans ratio of 0.97% compares with 1.04% at March 31, 2026.

•Net charge-offs of $135 million, or 37 basis points of average loans and leases, compares with 39 basis points in the prior quarter, reflecting decreases in commercial real estate and retail, partially offset by higher C&I.

•The second quarter 2026 provision for credit losses of $134 million compares with $140 million for first quarter 2026.

•The ratio of allowance for credit losses to total loans of 1.48% was down slightly compared with 1.52% as of March 31, 2026 reflecting improved loan mix given the continued reduction in the Non-Core portfolio and a decrease in commercial real estate balances, with originations primarily in C&I and retail real estate secured that have a lower loss content profile.

•The allowance for credit losses to nonaccrual loans and leases ratio of 152% increased from 146% at March 31, 2026, reflecting the decline in nonaccrual loans.

Second quarter 2026			vs.			second quarter 2025

•Nonaccrual loans decreased 6% driven largely by a 13% decrease in commercial, reflecting a decline in commercial real estate. The nonaccrual loans to total loans ratio of 0.97% compares with 1.09% at June 30, 2025.

•Net charge-offs of $135 million, or 37 basis points of average loans and leases compares with 48 basis points for second quarter 2025, reflecting a decrease in commercial real estate and retail.

•Provision for credit losses of $134 million decreased compared with a $164 million provision in second quarter 2025 reflecting the runoff of the Non-Core portfolio and improving credit trends and loan mix.

•Allowance for credit losses of $2.2 billion decreased $25 million compared with June 30, 2025 given the continued Non-Core runoff and other improvements in loan mix. Allowance for credit losses ratio of 1.48% as of June 30, 2026 compares with 1.59% as of June 30, 2025.

•The allowance for credit losses to nonaccrual loans and leases ratio of 152% compares with 145% as of June 30, 2025.

11

Citizens Financial Group, Inc.

About Citizens Financial Group, Inc.

Citizens Financial Group, Inc. is one of the nation's oldest and largest financial institutions, with $233.8 billion in assets as of June 30, 2026. Headquartered in Providence, Rhode Island, Citizens offers a broad range of retail, private banking, wealth management and commercial banking products and services to individuals, small businesses, middle-market companies, large corporations and institutions. Citizens helps its customers reach their potential by listening to them and by understanding their needs in order to offer tailored advice, ideas and solutions. In Consumer Banking, Citizens provides an integrated experience that includes mobile and online banking, a full-service customer contact center and the convenience of approximately 3,000 ATMs and approximately 1,000 branches in 14 states and the District of Columbia. Consumer Banking products and services include a full range of banking, lending, savings, wealth management and small business offerings. Consumer Banking includes Citizens Private Bank and Private Wealth, which integrate banking services and wealth management solutions to serve high- and ultra-high-net-worth individuals and families, as well as investors, entrepreneurs and businesses. In Commercial Banking, Citizens offers a broad complement of financial products and solutions, including lending and leasing, deposit and treasury management services, foreign exchange, interest rate and commodity risk management solutions, as well as loan syndication, corporate finance, merger and acquisition, and debt and equity capital markets capabilities.

12

Citizens Financial Group, Inc.

Non-GAAP Financial Measures and Reconciliations

Non-GAAP Financial Measures:

This document contains non-GAAP financial measures that we believe provide useful information to investors to understand our results of operations or financial condition. We caution investors not to place undue reliance on such non-GAAP financial measures, but to consider them with the most directly comparable GAAP financial measures. Non-GAAP financial measures have limitations as analytical tools and should not be considered in isolation or as a substitute for our results reported under GAAP. See the following pages for reconciliations of our non-GAAP measures to the most directly comparable GAAP financial measures.

13

Citizens Financial Group, Inc.

Non-GAAP financial measures and reconciliations

(in millions, except share, per-share and ratio data)

						QUARTERLY TRENDS
																								2Q26 Change
						2Q26						1Q26						2Q25						1Q26												2Q25
																								$/bps						%						$/bps						%
Pre-provision profit:
Total revenue (GAAP)			A			$2,283						$2,168						$2,037						$115						5		%				$246						12		%
Less: Noninterest expense (GAAP)			B			1,394						1,378						1,319						16						1						75						6
Pre-provision profit (non-GAAP)						$889						$790						$718						$99						13		%				$171						24		%
Operating leverage:
Total revenue (GAAP)			A			$2,283						$2,168						$2,037						$115						5.25		%				$246						12.01		%
Less: Noninterest expense (GAAP)			B			1,394						1,378						1,319						16						1.15						75						5.64
Operating leverage																														4.10		%										6.37		%
Efficiency ratio:
Efficiency ratio			B/A			61.08		%				63.55		%				64.76		%				(247)		bps										(368)		bps
Book value per common share and tangible book value per common share:
Common shares - at period-end (GAAP)			C			422,677,660						426,023,578						432,768,811						(3,345,918)						(1		%)				(10,091,151)						(2		%)
Common stockholders' equity (GAAP)			D			$24,072						$24,061						$23,121						$11						-						$951						4
Less: Goodwill (GAAP)						8,220						8,221						8,187						(1)						-						33						-
Less: Other intangible assets (GAAP)						105						112						128						(7)						(6)						(23)						(18)
Add: Deferred tax liabilities related to goodwill and other intangible assets (GAAP)						438						437						440						1						-						(2)						-
Tangible common equity (non-GAAP)			E			$16,185						$16,165						$15,246						$20						-		%				$939						6		%
Book value per common share (GAAP)			D/C			$56.95						$56.48						$53.43						$0.47						1		%				$3.52						7		%
Tangible book value per common share (non-GAAP)			E/C			38.29						37.94						35.23						0.35						1						3.06						9
Net interest income and net interest margin on an FTE basis:
Net interest income (annualized) (GAAP)			F			$6,542						$6,337						$5,770						$205						3		%				$772						13		%
Average interest-earning assets (GAAP)			G			206,770						201,929						196,318						4,841						2						10,452						5
Net interest margin (GAAP)			F/G			3.16		%				3.14		%				2.94		%				2		bps										22		bps
Net interest income (GAAP)						$1,631						$1,562						$1,437						$69						4		%				$194						14		%
FTE adjustment						3						3						4						-						-						(1)						(25)
Net interest income on an FTE basis (non-GAAP)						1,634						1,565						1,441						69						4						193						13
Net interest income on an FTE basis (annualized) (non-GAAP)			H			6,555						6,350						5,786						204						3						769						13
Net interest margin on an FTE basis (non-GAAP)			H/G			3.17		%				3.14		%				2.95		%				3		bps										22		bps
Return on average common equity and return on average tangible common equity:
Net income available to common stockholders (GAAP)			I			$554						$484						$402						$70						14		%				$152						38		%
Average common equity (GAAP)			J			$23,839						$23,995						$22,494						($156)						(1)						$1,345						6
Less: Average goodwill (GAAP)						8,221						8,198						8,187						23						-						34						-
Less: Average other intangibles (GAAP)						109						114						134						(5)						(4)						(25)						(19)
Add: Average deferred tax liabilities related to goodwill and other intangible assets (GAAP)						438						437						438						1						-						-						-
Average tangible common equity (non-GAAP)			K			$15,947						$16,120						$14,611						($173)						(1		%)				$1,336						9		%
Return on average common equity (GAAP)			I/J			9.31		%				8.19		%				7.18		%				112		bps										213		bps
Return on average tangible common equity (non-GAAP)			I/K			13.91		%				12.19		%				11.05		%				172		bps										286		bps
Return on average total assets and return on average total tangible assets:
Net income (GAAP)			L			$587						$517						$436						$70						14		%				$151						35		%
Average total assets (GAAP)			M			$229,263						$224,224						$217,661						$5,039						2						$11,602						5
Less: Average goodwill (GAAP)						8,221						8,198						8,187						23						-						34						-
Less: Average other intangibles (GAAP)						109						114						134						(5)						(4)						(25)						(19)
Add: Average deferred tax liabilities related to goodwill and other intangible assets (GAAP)						438						437						438						1						-						-						-
Average tangible assets (non-GAAP)			N			$221,371						$216,349						$209,778						$5,022						2		%				$11,593						6		%
Return on average total assets (GAAP)			L/M			1.03		%				0.94		%				0.80		%				9		bps										23		bps
Return on average total tangible assets (non-GAAP)			L/N			1.06		%				0.97		%				0.83		%				9		bps										23		bps

14

Citizens Financial Group, Inc.

Non-GAAP financial measures and reconciliations (continued)

(in millions, except share, per-share and ratio data)

						QUARTERLY TRENDS
																								2Q26 Change
						2Q26						1Q26						2Q25						1Q26												2Q25
																								$/bps						%						$/bps						%
Common equity ratio and tangible common equity ratio:
Total assets (GAAP)			O			$233,836						$227,918						$218,310						$5,918						3		%				$15,526						7		%
Less: Goodwill (GAAP)						8,220						8,221						8,187						(1)						-						33						-
Less: Other intangible assets (GAAP)						105						112						128						(7)						(6)						(23)						(18)
Add: Deferred tax liabilities related to goodwill and other intangible assets (GAAP)						438						437						440						1						-						(2)						-
Tangible assets (non-GAAP)			P			$225,949						$220,022						$210,435						$5,927						3		%				$15,514						7		%
Common equity ratio (GAAP)			D/O			10.3		%				10.6		%				10.6		%				(27) bps												(30) bps
Tangible common equity ratio (non-GAAP)			E/P			7.2						7.3						7.2						(10) bps												(4) bps

15

Citizens Financial Group, Inc.