Fifth Third Bancorp : 2022 Barclays Conference (opens in new window)

Barclays Global Financial Services

Conference

Tim Spence

President and Chief Executive Officer

September 14, 2022

© Fifth Third Bancorp | All Rights Reserved

Cautionary statement

This presentation contains statements that we believe are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Rule 175 promulgated thereunder, and Section 21E of the Securities Exchange Act of 1934, as amended, and Rule 3b-6 promulgated thereunder. All statements other than statements of historical fact are forward-looking statements. These statements relate to our financial condition, results of operations, plans, objectives, future performance, capital actions or business. They usually can be identified by the use of forward-looking language such as "will likely result," "may," "are expected to," "is anticipated," "potential," "estimate," "forecast," "projected," "intends to," or may include other similar words or phrases such as "believes," "plans," "trend," "objective," "continue," "remain," or similar expressions, or future or conditional verbs such as "will," "would," "should," "could," "might," "can," or similar verbs. You should not place undue reliance on these statements, as they are subject to risks and uncertainties, including but not

limited to the risk factors set forth in our most recent Annual Report on Form 10-K as updated by our filings with the U.S. Securities and Exchange Commission ("SEC").

There are a number of important factors that could cause future results to differ materially from historical performance and these forward-looking statements. Factors that might cause such a difference include, but are not limited to: (1) effects of the global COVID-19 pandemic; (2) deteriorating credit quality; (3) loan concentration by location or industry of borrowers or collateral; (4) problems encountered by other financial institutions; (5) inadequate sources of funding or liquidity; (6) unfavorable actions of rating agencies; (7) inability to maintain or grow deposits; (8) limitations on the ability to receive dividends from subsidiaries; (9) cyber-security risks;

1. Fifth Third's ability to secure confidential information and deliver products and services through the use of computer systems and telecommunications networks; (11) failures by third-party service providers; (12) inability to manage strategic initiatives and/or organizational changes; (13) inability to implement technology system enhancements; (14) failure of internal controls and other risk management systems; (15) losses related to fraud, theft, misappropriation or violence; (16) inability to attract and retain skilled personnel; (17) adverse impacts of government regulation; (18) governmental or regulatory changes or other actions; (19) failures to meet applicable capital requirements; (20) regulatory objections to Fifth Third's capital plan; (21) regulation of Fifth Third's derivatives activities; (22) deposit insurance premiums; (23) assessments for the orderly liquidation fund; (24) replacement of LIBOR; (25) weakness in the national or local economies; (26) global political and economic uncertainty or negative actions; (27) changes in interest rates; (28) changes and trends in capital markets; (29) fluctuation of Fifth Third's stock price; (30) volatility in mortgage banking revenue; (31) litigation, investigations, and enforcement proceedings by governmental authorities; (32) breaches of contractual covenants, representations and warranties; (33) competition and changes in the financial services industry; (34) changing retail distribution strategies, customer preferences and behavior; (35) difficulties in identifying, acquiring or integrating suitable strategic partnerships, investments or acquisitions; (36) potential dilution from future acquisitions; (37) loss of income and/or difficulties encountered in the sale and separation of businesses, investments or other assets; (38) results of investments or acquired entities; (39) changes in accounting standards or interpretation or declines in the value of Fifth Third's goodwill or other intangible assets;

1. inaccuracies or other failures from the use of models; (41) effects of critical accounting policies and judgments or the use of inaccurate estimates; (42) weather-related events, other natural disasters, or health emergencies (including pandemics); (43) the impact of reputational risk created by these or other developments on such matters as business generation and retention, funding and liquidity; (44) changes in law or requirements imposed by Fifth Third's regulators impacting our capital actions, including dividend payments and stock repurchases; and (45) Fifth Third's ability to meet its environmental and/or social targets, goals and commitments.

You should refer to our periodic and current reports filed with the Securities and Exchange Commission, or "SEC," for further information on other factors, which could cause actual results to be significantly different from those expressed or implied by these forward-looking statements. Moreover, you should treat these statements as speaking only as of the date they are made and based only on information then actually known to us. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any changes in events, conditions or circumstances on which any such statement is based, except as may be required by law, and we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. The information contained herein is intended to be reviewed in its totality, and any stipulations, conditions or provisos that apply to a given piece of information in one part of this press release should be read as applying mutatis mutandis to every other instance of such information appearing herein. Copies of those filings are available at no cost on the SEC's website at www.sec.gov or on our website at www.53.com.

Annualized, pro forma, projected and estimated numbers are used for illustrative purpose only, are not forecasts and may not reflect actual results.

In this presentation, we may sometimes provide non-GAAP financial information. Please note that although non-GAAP financial measures provide useful insight to analysts, investors and regulators, they should not be considered in isolation or relied upon as a substitute for analysis using GAAP measures. We provide a discussion of non-GAAP measures and reconciliations to the most directly comparable GAAP measures in later slides in this presentation, as well as on pages 27 through 29 of our 2Q22 earnings release.

Management does not provide a reconciliation for forward-lookingnon-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-lookingnon-GAAP financial measures provided without the most directly comparable GAAP financial measures may vary materially from the corresponding GAAP financial measures.

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© Fifth Third Bancorp | All Rights Reserved

Living our purpose guided by our vision and values

Our

Purpose

Our

Vision

Our

Core Values

To improve the lives of our customers and the well-being of our communities

Be the One Bank people most value and trust

Work as One Bank	Take Accountability
Be Respectful	Act with Integrity

Our purpose, vision, and core values support our commitment to

generating sustainable value for stakeholders

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© Fifth Third Bancorp | All Rights Reserved

Disciplined management focused on organic relationship

growth

Prudent positioning

• Disciplined credit underwriting in both commercial and consumer, with a low allocation to segments highly vulnerable to inflation and higher rates
• Patient deployment of excess liquidity into securities at favorable entry points relative to 2020 and 2021
• Stable NIM profile; targeting long-term NIM floor of ~3.0% even with a Fed funds target of 0.25%1
• Allowance for credit losses above CECL Day 1 level
• Consistent, diligent expense management producing ~700 bps of YoY operating leverage in 2Q22

Differentiated organic growth

• 3% consumer household compound annual growth rate over the past 5 years
• Added 57 branches in high-growth Southeast metro areas over the past 3 years (#2 among all banks), with ~100 planned in the next 3 years
• Added 900+ new quality relationships in commercial over the past two years, contributing to record 1H commercial loan production in 2022
• Provide and Dividend fintech platforms exceeding our business plans on relationship quality, loan production
• Generated positive AUM inflows in 10 of past 12 quarters

Disciplined balance sheet management and continued focus on organic relationship growth support

our objective to outperform through the cycle

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© Fifth Third Bancorp | All Rights Reserved 1See forward-looking statements on page 2 of this presentation

Strong regional banking footprint well-positioned in high growth markets

Strategically positioned in Midwest and a leader in manufacturing lending

Intel chip manufacturing 'mega-site'

expected to be world's largest

"(Our) new manufacturing site in Ohio will support our future

growth and advances our plan to create a more geographically

balanced resilient supply chain." - Intel CEO, 1/28/22

Amazon Prime Air Hub opened late 2021

Serves as "the central nerve of Amazon's U.S. nationwide air cargo operations".. and the "lynchpin to Amazon's efforts to develop a comprehensive array of domestic delivery services across the United States."

Manufacturing loans outstanding as a % of total C&I loans; as of 2Q22

X		21%
Peer 1	18%
Peer 2	16%
Peer 3	16%
Peer 4	11%
Peer 5	11%
Peer 6	11%
Peer 7	7%

Well-positioned in key Southeast markets

• ~95% of new branches since 2019 are "next-gen" design, providing differentiated experience

• Targeting ~35 branch openings per year through FY25, up from prior pace of ~25/year3

• Expect to have 8%+ location share in almost all key Southeast MSAs by YE253

Unemployment rate1	Expected population	Expected household income
growth2	growth2

	3.8%			4.8%	12.0%	13.0%	Key Southeast MSAs
	3.2%
		3.2%
							US Average
Major FITB markets with a top 5 deposit share
	1	2	USA	SE of F	USA	SE of F
Key Southeast MSAs
1Data as of 6/30/22 and sourced from S&P Global Market Intelligence; unemployment rate weighted based on 2022 population; 2Data sourced from S&P Global Market Intelligence and is for the 2022-2027	5
	period; based on weighted average population and households of key Southeast MSAs of focus; 3See forward-looking statements on page 2 of this presentation regarding forward-lookingnon-GAAP measures

© Fifth Third Bancorp | All Rights Reserved	and use of non-GAAP measures on pages 27-29 of the 2Q22 earnings	release