FIFTH THIRD BANCORP

Previous wording

Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio. At June 30, 2026, the Bancorp had $300 billion in assets and operated 1,500 full-service banking centers and 2,648 Fifth Third ATMs in fifteen states throughout its retail footprint. The Bancorp reports on three business segments: Commercial Banking, Consumer and Small Business Banking and Wealth and Asset Management.

Current wording

Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio. At September 30, 2026, the Bancorp had $301 billion in assets and operated 1,429 full-service banking centers and 2,549 Fifth Third ATMs in fifteen states throughout its retail footprint. The Bancorp reports on three business segments: Commercial Banking, Consumer and Small Business Banking and Wealth and Asset Management.

Previous wording

The Bancorp’s revenues are dependent on both net interest income and noninterest income. For both the three and six months ended June 30, 2026, net interest income on an FTE basis and noninterest income provided 68% and 32% of total revenue, respectively. The Bancorp derives the majority of its revenues within the U.S. from customers domiciled in the U.S. Changes in interest rates, credit quality, economic trends and the capital markets are primary factors that drive the performance of the Bancorp. As discussed later in the Risk Management section of MD&A, risk identification, measurement, monitoring, control and reporting are important to the management of risk and to the financial performance and capital strength of the Bancorp.

Current wording

The Bancorp’s revenues are dependent on both net interest income and noninterest income. For the three months ended September 30, 2026, net interest income on an FTE basis and noninterest income provided 69% and 31% of total revenue, respectively. For the nine months ended September 30, 2026, net interest income on an FTE basis and noninterest income provided 68% and 32% of total revenue, respectively. The Bancorp derives the majority of its revenues within the U.S. from customers domiciled in the U.S. Changes in interest rates, credit quality, economic trends and the capital markets are primary factors that drive the performance of the Bancorp. As discussed later in the Risk Management section of MD&A, risk identification, measurement, monitoring, control and reporting are important to the management of risk and to the financial performance and capital strength of the Bancorp.

Previous wording

On February 1, 2026, the Bancorp issued 16,000,000 depository shares, representing 400,000 shares of 6.875% fixed-rate reset non-cumulative perpetual preferred stock, Series M to the holders of Comerica’s 6.875% fixed-rate reset non-cumulative perpetual preferred stock, Series B that were outstanding on January 30, 2026. Each Series M share has a $1,000 liquidation preference and accrues dividends on a non-cumulative quarterly basis, initially beginning on January 1, 2026 with a first dividend payment date of April 1, 2026. Subject to any required regulatory approval, the Bancorp may redeem the Series M preferred shares at its option, in whole or in part, on any dividend payment date on or after October 1, 2030 and may redeem, in whole but not in part, within 90 days following a regulatory capital event. The Series M preferred shares are not convertible into Bancorp common shares or any other securities.

Current wording

On February 1, 2026, the Bancorp issued 16,000,000 depositary shares, representing 400,000 shares of 6.875% fixed-rate reset non-cumulative perpetual preferred stock, Series M to the holders of Comerica’s 6.875% fixed-rate reset non-cumulative perpetual preferred stock, Series B that were outstanding on January 30, 2026. Each Series M share has a $1,000 liquidation preference and accrues dividends on a non-cumulative quarterly basis, initially beginning on January 1, 2026 with a first dividend payment date of April 1, 2026. Subject to any required regulatory approval, the Bancorp may redeem the Series M preferred shares at its option, in whole or in part, on any dividend payment date on or after October 1, 2030 and may redeem, in whole but not in part, within 90 days following a regulatory capital event. The Series M preferred shares are not convertible into Bancorp common shares or any other securities.

Previous wording

The Bancorp’s financial condition and results of operations as of, and for the three and six months ended, June 30, 2026, were impacted by activity attributable to the Comerica acquisition and the integration of acquired operations, which affects the comparability of results between periods presented herein.

Current wording

The Bancorp’s financial condition and results of operations as of, and for the three and nine months ended, September 30, 2026, were impacted by activity attributable to the Comerica acquisition and the integration of acquired operations, which affects the comparability of results between periods presented herein.

Previous wording

On June 10, 2026, the Bancorp completed the previously announced exchange offer with respect to the $550 million of 4.00% fixed-rate senior notes due February 1, 2029, originally issued by Comerica Incorporated and assumed by Fifth Third Financial Corporation, as successor by merger, pursuant to which approximately $335 million of such notes were exchanged for new senior notes issued by the Bancorp and cash consideration. The new senior notes have substantially identical terms to the prior notes including the same interest rate of 4.00% and maturity date of February 1, 2029.

Current wording

On June 10, 2026, the Bancorp completed exchange offers under which approximately $335 million of 4.00% senior notes due February 1, 2029, and approximately $938 million of fixed-rate/floating-rate senior notes due January 30, 2030, originally issued by Comerica Incorporated, were exchanged for new senior notes issued by the Bancorp with substantially identical terms. These notes were subsequently exchanged for registered senior notes on September 24, 2026.

Previous wording

In the third quarter of 2026, the Bancorp will begin the transition from Category IV to Category III compliance standards. Under Category III standards, the Bancorp will be subject to additional regulatory requirements and oversight, including enhanced liquidity monitoring through compliance with the liquidity coverage ratio and net stable funding ratio, while additional reporting requirements including compliance with single counterparty credit limits will need to be met. The Bancorp will continue to be required to develop and maintain an annual capital plan, which must be approved by the Board of Directors; however, as a Category III institution, it will transition to annual supervisory stress testing, including the recalibration of its stress capital buffer, from the Category IV biennial requirement.

Current wording

In the third quarter of 2026, the Bancorp transitioned from Category IV to Category III standards. Under Category III standards, the Bancorp is subject to additional regulatory requirements and oversight, including enhanced liquidity monitoring through compliance with the liquidity coverage ratio and net stable funding ratio, while additional requirements including compliance with single-counterparty credit limits will need to be met. Compliance with the single-counterparty credit limits will be required beginning in the fourth quarter of 2028. The Bancorp continues to be required to develop and maintain an annual capital plan, which must be approved by the Board of Directors; however, as a Category III institution, it is subject to annual supervisory stress testing, including the recalibration of its stress capital buffer, a change from the Category IV biennial requirement.

Previous wording

On March 19, 2026, the U.S. banking agencies issued notices of proposed rulemaking to revise the U.S. regulatory capital framework to finalize the post-crisis Basel III reforms. Comments were due by June 18, 2026 with final implementation expected to include a multi-year transition. The Bancorp and the Bank would not be required to adopt the new expanded risk‑based approach under the proposed rules, although the proposed rules would permit an election to adopt the expanded risk‑based approach. However, if implemented as proposed, the rules would impact how the Bancorp and the Bank calculate capital requirements. Effective dates for the proposed rules were not included in the proposal. The Bancorp is in the process of evaluating this proposed rulemaking and assessing its potential impact.

Current wording

On March 19, 2026, the U.S. banking agencies issued notices of proposed rulemaking to revise the U.S. regulatory capital framework to finalize the post-crisis Basel III reforms. Comments were due by June 18, 2026 with final implementation expected to include a multi-year transition. The Bancorp and the Bank would not be required to adopt the new expanded risk‑based approach under the proposed rules, although the proposed rules would permit an election to adopt the expanded risk‑based approach. However, if implemented as proposed, the rules would impact how the Bancorp and the Bank calculate capital requirements. Effective dates for the proposed rules were not included in the proposal. Based upon the proposed rules, the Bancorp currently estimates that its CET1 risk-based capital ratio would be approximately 9.2% as of September 30, 2026.

Previous wording

The Bancorp, as a banking institution, utilizes various key indicators of financial condition and operating results in managing and monitoring the performance of the business. In addition to traditional financial metrics, such as revenue and expense trends, the Bancorp monitors other financial measures that assist in evaluating growth trends, capital and liquidity strength and operational efficiencies. The Bancorp analyzes these key performance indicators against its past performance, its forecasted performance and with the performance of its peer banking institutions. These indicators may change from time to time as the operating environment and businesses change. There have been no material changes made during the six months ended June 30, 2026 to the Bancorp’s key performance indicators. Refer to the Bancorp’s Annual Report on Form 10-K for the year ended December 31, 2025 for more information.

Current wording

The Bancorp, as a banking institution, utilizes various key indicators of financial condition and operating results in managing and monitoring the performance of the business. In addition to traditional financial metrics, such as revenue and expense trends, the Bancorp monitors other financial measures that assist in evaluating growth trends, capital and liquidity strength and operational efficiencies. The Bancorp analyzes these key performance indicators against its past performance, its forecasted performance and with the performance of its peer banking institutions. These indicators may change from time to time as the operating environment and businesses change. There have been no material changes made during the nine months ended September 30, 2026 to the Bancorp’s key performance indicators. Refer to the Bancorp’s Annual Report on Form 10-K for the year ended December 31, 2025 for more information.

Previous wording

(a)Amounts presented on an FTE basis. The FTE adjustments were $5 for both the three months ended June 30, 2026 and 2025 and $10 for both the six months ended June 30, 2026 and 2025.

Current wording

(a)Amounts presented on an FTE basis. The FTE adjustments were $5 for both the three months ended September 30, 2026 and 2025 and $15 for both the nine months ended September 30, 2026 and 2025.

Previous wording

Net interest income on an FTE basis (non-GAAP) was $2.2 billion and $4.2 billion for the three and six months ended June 30, 2026, respectively, increasing $720 million and $1.2 billion compared to the same periods in the prior year. Net interest income for the three and six months ended June 30, 2026 reflected the impact of the Comerica acquisition, including $73.0 billion of interest-earning assets acquired as well as $48.2 billion of interest-bearing liabilities and $24.9 billion of noninterest-bearing liabilities assumed on February 1, 2026. Net interest income for the three and six months ended June 30, 2026 was positively impacted by higher average balances of interest-earning assets primarily driven by the Comerica acquisition, lower funding costs due to the benefit of lower short-term market rates and repricing of fixed-rate assets to higher yields, including the reinvestment of cash flows from average taxable securities and securities repositioning during the second quarter of 2026. These positive impacts were partially offset by increases in interest expense primarily due to higher average balances of interest-bearing core deposits and long-term debt primarily driven by the Comerica acquisition and lower yields on average loans and leases and average other short-term investments driven by lower short-term market rates. The increases in the average balances of long-term debt for both the three and six months ended June 30, 2026 also reflected the Bancorp’s January 2026 issuance of $2.0 billion of fixed-rate/floating-rate senior notes. Additionally, net interest income for the three and six months ended June 30, 2026 included $64 million and $102 million, respectively, of amortization and accretion of purchase accounting premiums and discounts related to the Comerica acquisition.

Current wording

Net interest income on an FTE basis (non-GAAP) increased $751 million and $2.0 billion for the three and nine months ended September 30, 2026, respectively, compared to the same periods in the prior year, reflecting the impact of the Comerica acquisition including $73.0 billion of interest-earning assets acquired as well as $48.2 billion of interest-bearing liabilities and $24.9 billion of noninterest-bearing liabilities assumed on February 1, 2026. Net interest income for the three and nine months ended September 30, 2026 benefited from higher average balances of interest-earning assets primarily driven by the Comerica acquisition, lower funding costs resulting from the benefit of lower short-term market rates and the repricing and reinvestment of fixed-rate assets to higher yields, including the securities repositioning during the second quarter of 2026. These benefits were partially offset by increases in interest expense primarily due to higher average balances of interest-bearing core deposits and long-term debt primarily driven by the Comerica acquisition as well as lower yields on average loans and leases and average other short-term investments resulting from lower short-term market rates. Additionally, net interest income for the three and nine months ended September 30, 2026 included $57 million and $160 million, respectively, of amortization and accretion of purchase accounting premiums and discounts related to the Comerica acquisition. Net interest margin on an FTE basis (non-GAAP) was 3.34% for both the three and nine months ended September 30, 2026 compared to 3.13% and 3.10% for the same periods in the prior year.

Previous wording

affected by certain factors that caused a decrease in the ACL from March 31, 2026, including improvement in the economic forecast used to calculate the ACL and improving credit characteristics within the portfolio, partially offset by higher period-end portfolio loan and lease balances. Provision expense for the six months ended June 30, 2026 was affected by factors which caused an increase in the ACL from December 31, 2025, including an increase in provision for the reserve for unfunded commitments recorded as part of the initial recognition of the reserve for unfunded commitments assumed in the Comerica acquisition, higher period-end portfolio loan and lease balances and a qualitative adjustment to reflect economic uncertainty associated with the ongoing U.S.-Iran conflict, partially offset by the improvement in the economic forecast used to calculate the ACL.

Current wording

the ACL, inclusive of a qualitative adjustment to reflect current economic conditions and outlook as of September 30, 2026, partially offset by improvement in the commercial risk profile as well as higher period-end portfolio loan and lease balances. Provision expense for the nine months ended September 30, 2026 was primarily driven by the initial recognition of the reserve for unfunded commitments assumed in the Comerica acquisition and higher period-end portfolio loan and lease balances, offset by improvement in the economic forecast used to calculate the ACL, inclusive of a qualitative adjustment to reflect current economic conditions and outlook as of September 30, 2026.

Previous wording

Noninterest income increased $309 million and $510 million for the three and six months ended June 30, 2026, respectively, compared to the same periods in the prior year primarily driven by increases in commercial payments revenue, wealth and asset management revenue, capital markets fees and commercial banking revenue. These increases were impacted by activity attributable to the Comerica acquisition and the integration of acquired operations.

Current wording

Noninterest income increased $227 million and $738 million for the three and nine months ended September 30, 2026, respectively, compared to the same periods in the prior year primarily driven by increases in commercial payments revenue, wealth and asset management revenue, capital markets fees, commercial banking revenue and consumer banking revenue. These increases were impacted by activity attributable to the Comerica acquisition and the integration of acquired operations.

Previous wording

Noninterest expense increased $845 million and $1.9 billion for the three and six months ended June 30, 2026, respectively, compared to the same periods in the prior year primarily due to increases in compensation and benefits expense, technology and communications expense, net occupancy expense, card and processing expense, marketing expense and other noninterest expense. These increases included direct merger-related expenses as well as activity attributable to the Comerica acquisition and the integration of acquired operations.

Current wording

Noninterest expense increased $782 million and $2.7 billion for the three and nine months ended September 30, 2026, respectively, compared to the same periods in the prior year primarily due to increases in compensation and benefits expense, technology and communications expense, net occupancy expense, card and processing expense, marketing expense and other noninterest expense. These increases included direct merger-related expenses as well as activity attributable to the Comerica acquisition and the integration of acquired operations.

Previous wording

The Bancorp’s Condensed Consolidated Financial Statements are prepared in accordance with U.S. GAAP. Certain accounting policies require management to exercise judgment in determining methodologies, economic assumptions and estimates that may materially affect the Bancorp’s financial position, results of operations and cash flows. The Bancorp’s critical accounting policies include the accounting for the ALLL, reserve for unfunded commitments, valuation of residential mortgage servicing rights, goodwill, legal contingencies and fair value measurements. These accounting policies are discussed in detail in the Critical Accounting Policies section of the Bancorp’s Annual Report on Form 10-K for the year ended December 31, 2025. There have been no material changes to the valuation techniques or models during the six months ended June 30, 2026.

Current wording

The Bancorp’s Condensed Consolidated Financial Statements are prepared in accordance with U.S. GAAP. Certain accounting policies require management to exercise judgment in determining methodologies, economic assumptions and estimates that may materially affect the Bancorp’s financial position, results of operations and cash flows. The Bancorp’s critical accounting policies include the accounting for the ALLL, reserve for unfunded commitments, valuation of residential mortgage servicing rights, goodwill, legal contingencies and fair value measurements. These accounting policies are discussed in detail in the Critical Accounting Policies section of the Bancorp’s Annual Report on Form 10-K for the year ended December 31, 2025. There have been no material changes to the valuation techniques or models during the nine months ended September 30, 2026.

Previous wording

Tables 5 and 6 present the components of net interest income, net interest margin and net interest rate spread for the three and six months ended June 30, 2026 and 2025, as well as the relative impact of changes in the average balance sheet and changes in interest rates on net interest income. Nonaccrual loans and leases and loans and leases held for sale have been included in the average loan and lease balances. Average outstanding securities balances are based on amortized cost with any unrealized gains or losses included in average other assets.

Current wording

Tables 5 and 6 present the components of net interest income, net interest margin and net interest rate spread for the three and nine months ended September 30, 2026 and 2025, as well as the relative impact of changes in the average balance sheet and changes in interest rates on net interest income. Nonaccrual loans and leases and loans and leases held for sale have been included in the average loan and lease balances. Average outstanding securities balances are based on amortized cost with any unrealized gains or losses included in average other assets.

Previous wording

Net interest income on an FTE basis (non-GAAP) was $2.2 billion and $4.2 billion for the three and six months ended June 30, 2026, respectively, increasing $720 million and $1.2 billion compared to the same periods in the prior year. Net interest income for the three and six months ended June 30, 2026 reflected the impact of the Comerica acquisition, including $73.0 billion of interest-earning assets acquired as well as $48.2 billion of interest-bearing liabilities and $24.9 billion of noninterest-bearing liabilities assumed on February 1, 2026. Net interest income for the three and six months ended June 30, 2026 was positively impacted by higher average balances of interest-earning assets primarily driven by the Comerica acquisition, lower funding costs due to the benefit of lower short-term market rates and repricing of fixed-rate assets to higher yields, including the reinvestment of cash flows from average taxable securities and securities repositioning during the second quarter of 2026. These positive impacts were partially offset by increases in interest expense primarily due to higher average balances of interest-bearing core deposits and long-term debt primarily driven by the Comerica acquisition and lower yields on average loans and leases and average other short-term investments driven by lower short-term market rates. The increases in the average balances of long-term debt for both the three and six months ended June 30, 2026 also reflected the Bancorp’s January 2026 issuance of $2.0 billion of fixed-rate/floating-rate senior notes. Additionally, net interest income for the three and six months ended June 30, 2026 included $64 million and $102 million, respectively, of amortization and accretion of purchase accounting premiums and discounts related to the Comerica acquisition. Net interest margin on an FTE basis (non-GAAP) was 3.36% and 3.33% for the three and six months ended June 30, 2026, respectively, compared to 3.12% and 3.08% for the comparable periods in the prior year.

Current wording

Net interest income on an FTE basis (non-GAAP) increased $751 million and $2.0 billion for the three and nine months ended September 30, 2026, respectively, compared to the same periods in the prior year, reflecting the impact of the Comerica acquisition including $73.0 billion of interest-earning assets acquired as well as $48.2 billion of interest-bearing liabilities and $24.9 billion of noninterest-bearing liabilities assumed on February 1, 2026. Net interest income for the three and nine months ended September 30, 2026 benefited from higher average balances of interest-earning assets primarily driven by the Comerica acquisition, lower funding costs resulting from the benefit of lower short-term market rates and the repricing and reinvestment of fixed-rate assets to higher yields, including the securities repositioning during the second quarter of 2026. These benefits were partially offset by increases in interest expense primarily due to higher average balances of interest-bearing core deposits and long-term debt primarily driven by the Comerica acquisition as well as lower yields on average loans and leases and average other short-term investments resulting from lower short-term market rates. Additionally, net interest income for the three and nine months ended September 30, 2026 included $57 million and $160 million, respectively, of amortization and accretion of purchase accounting premiums and discounts related to the Comerica acquisition.

Previous wording

Interest expense on average wholesale funding increased $11 million for the three months ended June 30, 2026 compared to the same period in the prior year primarily due to an increase in the average balances of long-term debt, partially offset by a decrease in rates paid on average wholesale funding. Interest expense on average wholesale funding decreased $19 million for the six months ended June 30, 2026 compared to the same period in the prior year primarily due to a decrease in rates paid on average wholesale funding and a decrease in the average balances of FHLB advances, partially offset by an increase in the average balances of long-term debt. During the three and six months ended June 30, 2026, average wholesale funding represented 14% and 13% of average interest-bearing liabilities, respectively, compared to 16% for both the three and six months ended June 30, 2025. For more information on the Bancorp’s interest rate risk management, including estimated earnings sensitivity to changes in market interest rates, refer to the Interest Rate and Price Risk Management subsection of the Risk Management section of MD&A.

Current wording

For more information on the Bancorp’s interest rate risk management, including estimated earnings sensitivity to changes in market interest rates, refer to the Interest Rate and Price Risk Management subsection of the Risk Management section of MD&A.

Previous wording

On an average basis, interest-earning assets increased $72.3 billion, or 38%, for the three months ended June 30, 2026 compared to the same period in the prior year primarily driven by the impact of the Comerica acquisition on February 1, 2026 which included the acquisition of $46.5 billion of commercial loans and leases, $4.1 billion of consumer loans, $11.3 billion of other short-term investments and $11.2 billion of securities.

Current wording

On an average basis, interest-earning assets increased $76.5 billion, or 40%, for the three months ended September 30, 2026 compared to the same period in the prior year primarily driven by the initial impact of the Comerica acquisition on February 1, 2026 which included the acquisition of $46.5 billion of commercial loans and leases, $4.1 billion of consumer loans, $11.3 billion of other short-term investments and $11.2 billion of securities. Excluding the initial impact of the Comerica acquisition, the increase in average interest-earning assets reflected an increase in average commercial loans and leases of $4.3 billion and an increase in average taxable securities of $2.7 billion, partially offset by a decrease in average other short-term investments of $4.7 billion for the three months ended September 30, 2026 compared to the same period in the prior year. The increase in average commercial loans and leases was primarily driven by an increase in average commercial and industrial loans primarily as a result of loan originations exceeding payoffs as well as increased line utilization. The increase in average taxable securities and decrease in average other short-term investments primarily reflected the strategic redeployment of liquidity into higher-

Previous wording

On an average basis, interest-bearing liabilities increased $47.5 billion, or 33%, for the three months ended June 30, 2026 compared to the same period in the prior year primarily driven by the impact of the Comerica acquisition which included the assumption of $40.6 billion of interest-bearing core deposits and $5.5 billion of long-term debt. Average core deposits represented 77% of average total assets for both the three months ended June 30, 2026 and 2025.

Current wording

On an average basis, interest-bearing liabilities increased $51.6 billion, or 36%, for the three months ended September 30, 2026 compared to the same period in the prior year primarily driven by the initial impact of the Comerica acquisition which included the assumption of $40.6 billion of interest-bearing core deposits and $5.5 billion of long-term debt. Excluding the initial impact of the Comerica acquisition, the increase in average interest-bearing liabilities reflected an increase in average interest-bearing core deposits of $9.5 billion, partially offset by decreases in average FHLB advances of $2.6 billion and average long-term debt of $2.0 billion for the three months ended September 30, 2026 compared to the same period in the prior year. The increase in average interest-bearing core deposits was primarily due to the migration of former off-balance-sheet Comerica investment sweep balances onto the balance sheet during the third quarter of 2026 as well as higher offering rates from promotional offers and branch expansion leading to growth in the number of average consumer customer accounts as well as higher average balances per consumer customer account. The decreases in average FHLB advances and long-term debt were primarily driven by maturities that were not replaced for the three months ended September 30, 2026 compared to the same period in the prior year, reflecting reduced funding needs associated with the aforementioned decrease in average other short-term investments. Average core deposits represented 78% and 77% of average total assets for the three months ended September 30, 2026 and 2025, respectively. Average wholesale funding represented 12% and 15% of average interest-bearing liabilities for the three months ended September 30, 2026 and 2025, respectively.

Previous wording

(b)The FTE adjustments included in the above table were $10 for both the six months ended June 30, 2026 and 2025.

Current wording

(b)The FTE adjustments included in the above table were $15 for both the nine months ended September 30, 2026 and 2025.

Previous wording

The provision for credit losses was $129 million and $356 million for the three and six months ended June 30, 2026, respectively, compared to $173 million and $347 million during the same periods in the prior year. Provision expense for the three months ended June 30, 2026 was affected by certain factors that caused a decrease in the ACL from March 31, 2026, including improvement in the economic forecast used to calculate the ACL and improving credit characteristics within the portfolio, partially offset by higher period-end portfolio loan and lease balances. Provision expense for the six months ended June 30, 2026 was affected by factors which caused an increase in the ACL from December 31, 2025, including an increase in provision for the reserve for unfunded commitments recorded as part of the initial recognition of the reserve for unfunded commitments assumed in the Comerica acquisition, higher period-end portfolio loan and lease balances and a qualitative adjustment to reflect economic uncertainty associated with the ongoing U.S.-Iran conflict, partially offset by the improvement in the economic forecast used to calculate the ACL.

Current wording

The provision for credit losses was $122 million and $479 million for the three and nine months ended September 30, 2026, respectively, compared to $197 million and $544 million during the same periods in the prior year. The decreases in provision expense for both the three and nine months ended September 30, 2026 included the impact of $178 million resulting from the fraud-related impairment of an asset-backed finance commercial loan in the third quarter of 2025. Provision expense for the three months ended September 30, 2026 was also affected by factors that caused a decrease in the ACL from June 30, 2026, including improvement in the economic forecast used to calculate the ACL, inclusive of a qualitative adjustment to reflect current economic conditions and outlook as of September 30, 2026, partially offset by improvement in the commercial risk profile as well as higher period-end portfolio loan and lease balances. Provision expense for the nine months ended September 30, 2026 was primarily driven by the initial recognition of the reserve for unfunded commitments assumed in the Comerica acquisition and higher period-end portfolio loan and lease balances, offset by improvement in the economic forecast used to calculate the ACL, inclusive of a qualitative adjustment to reflect current economic conditions and outlook as of September 30, 2026.

Previous wording

The ALLL increased $665 million from December 31, 2025 to $2.9 billion at June 30, 2026. This increase reflects the impact of the Comerica acquisition, including the initial recognition of allowances on PCD loans and leases of $179 million and on PSLs of $482 million as of the acquisition date. At June 30, 2026, the ALLL as a percent of portfolio loans and leases decreased to 1.63%, compared to 1.84% at December 31, 2025.

Current wording

The ALLL increased $653 million from December 31, 2025 to $2.9 billion at September 30, 2026. This increase reflects the impact of the Comerica acquisition, including the initial recognition of allowances on PCD loans and leases of $179 million and on PSLs of $482 million as of the acquisition date. At September 30, 2026, the ALLL as a percent of portfolio loans and leases decreased to 1.61%, compared to 1.84% at December 31, 2025.

Previous wording

The reserve for unfunded commitments increased $73 million from December 31, 2025 to $230 million at June 30, 2026. This increase reflects the impact of the Comerica acquisition, which included approximately $75 million in reserves for unfunded commitments recognized on the acquisition date. At June 30, 2026, the ACL as a percent of portfolio loans and leases decreased to 1.76%, compared to 1.96% at December 31, 2025.

Current wording

The reserve for unfunded commitments increased $68 million from December 31, 2025 to $225 million at September 30, 2026. This increase reflects the impact of the Comerica acquisition, which included approximately $75 million in reserves for unfunded commitments recognized on the acquisition date. At September 30, 2026, the ACL as a percent of portfolio loans and leases decreased to 1.74%, compared to 1.96% at December 31, 2025.

Previous wording

Noninterest income increased $309 million and $510 million for the three and six months ended June 30, 2026, respectively, compared to the three and six months ended June 30, 2025, which was impacted by activity attributable to the Comerica acquisition and the integration of acquired operations.

Current wording

Noninterest income increased $227 million and $738 million for the three and nine months ended September 30, 2026, respectively, compared to the three and nine months ended September 30, 2025, which was impacted by activity attributable to the Comerica acquisition and the integration of acquired operations.

Previous wording

Wealth and asset management revenue increased $90 million and $151 million for the three and six months ended June 30, 2026, respectively, compared to the three and six months ended June 30, 2025 primarily driven by increases in personal asset management revenue, brokerage income and institutional trust income. The Bancorp’s trust and registered investment advisory businesses had approximately $902 billion and $657 billion in total assets under care as of June 30, 2026 and 2025, respectively, and managed $128 billion and $73 billion in assets for individuals, corporations and not-for-profit organizations as of June 30, 2026 and 2025, respectively. These balances reflect the impact of the Comerica acquisition on February 1, 2026, which included $180 billion of assets under care and $43 billion of assets under management.

Current wording

Wealth and asset management revenue increased $78 million and $229 million for the three and nine months ended September 30, 2026, respectively, compared to the three and nine months ended September 30, 2025 primarily driven by increases in personal asset management revenue, brokerage income and institutional trust income as a result of higher market values from market appreciation and new business activity. The Bancorp’s trust and registered investment advisory businesses had approximately $880 billion and $681 billion in total assets under care as of September 30, 2026 and 2025, respectively, and managed $125 billion and $77 billion in assets for individuals, corporations

Previous wording

Commercial payments revenue increased $102 million and $167 million for the three and six months ended June 30, 2026, respectively, compared to the three and six months ended June 30, 2025 primarily driven by higher treasury management fees and merchant payment processing revenue from increased volume, as well as the impact of revenue from the Direct Express government prepaid card program.

Current wording

Commercial payments revenue increased $99 million and $266 million for the three and nine months ended September 30, 2026, respectively, compared to the three and nine months ended September 30, 2025 primarily driven by higher treasury management fees and merchant payment processing revenue from increased volume, the impact of revenue from the Direct Express government prepaid card program and the continued expansion of embedded finance solutions through Newline and technology-enabled cash logistics services.

Previous wording

Capital markets fees increased $64 million and $108 million for the three and six months ended June 30, 2026, respectively, compared to the three and six months ended June 30, 2025 primarily driven by increases in loan syndication revenue, revenue from commercial customer derivatives and merger and acquisition fees.

Current wording

Capital markets fees increased $32 million and $141 million for the three and nine months ended September 30, 2026, respectively, compared to the three and nine months ended September 30, 2025 primarily driven by increases in revenue from commercial customer derivatives due to increased hedging activity and loan syndication revenue due to strong loan production. The increases were also driven by increased volume from the Comerica acquisition. The increase for the nine months ended September 30, 2026 also included an increase in merger and acquisition fees due to increased deal execution.

Previous wording

Commercial banking revenue increased $46 million and $70 million for the three and six months ended June 30, 2026, respectively, compared to the three and six months ended June 30, 2025 primarily driven by increases in business lending fees.

Current wording

Commercial banking revenue increased $41 million and $111 million for the three and nine months ended September 30, 2026, respectively, compared to the three and nine months ended September 30, 2025 primarily driven by increases in business lending fees due to increased volume and strong loan production.

Previous wording

Residential mortgage loan originations increased to $2.5 billion and $4.4 billion for the three and six months ended June 30, 2026, respectively, from $2.0 billion and $3.4 billion for the three and six months ended June 30, 2025, respectively, primarily driven by an increase in the number of retail sales personnel. The increase for the six months ended June 30, 2026 was also due to lower mortgage interest rates, which also drove an increase in correspondent channel volume. Origination fees and gains on loan sales increased $10 million for the six months ended June 30, 2026 compared to the six months ended June 30, 2025 primarily driven by higher volumes of saleable rate lock mortgage loan originations.

Current wording

Residential mortgage loan originations increased to $2.3 billion and $6.7 billion for the three and nine months ended September 30, 2026, respectively, from $1.9 billion and $5.3 billion for the three and nine months ended September 30, 2025, respectively, primarily driven by an increase in the number of retail sales personnel. The increase for the nine months ended September 30, 2026 was also due to lower mortgage interest rates during the first quarter of 2026, which also drove an increase in correspondent channel volume.

Previous wording

Further detail on the valuation of residential MSRs can be found in Note 11 of the Notes to Condensed Consolidated Financial Statements. The Bancorp maintains a non-qualifying hedging strategy to manage a portion of the risk associated with changes in the valuation of the residential MSR portfolio. Refer to Note 12 of the Notes to Condensed Consolidated Financial Statements for more information on the free-standing derivatives used to economically hedge the residential MSR portfolio. In addition to the derivative positions used to economically hedge the residential MSR portfolio, the Bancorp acquires various securities as a component of its non-qualifying hedging strategy. Net losses and gains on these securities were immaterial for both the three and six months ended June 30, 2026 and 2025.

Current wording

Further detail on the valuation of residential MSRs can be found in Note 11 of the Notes to Condensed Consolidated Financial Statements. The Bancorp maintains a non-qualifying hedging strategy to manage a portion of the risk associated with changes in the valuation of the residential MSR portfolio. Refer to Note 12 of the Notes to Condensed Consolidated Financial Statements for more information on the free-standing derivatives used to economically hedge the residential MSR portfolio. In addition to the derivative positions used to economically hedge the residential MSR portfolio, the Bancorp acquires various securities as a component of its non-qualifying hedging strategy. Net losses and gains on these securities were immaterial for both the three and nine months ended September 30, 2026 and 2025.

Previous wording

At June 30, 2026 and 2025, the Bancorp serviced $85.9 billion and $91.2 billion, respectively, of residential mortgage loans for other investors.

Current wording

At September 30, 2026 and 2025, the Bancorp serviced $85.1 billion and $89.6 billion, respectively, of residential mortgage loans for other investors.

Previous wording

Other noninterest income increased $20 million for the six months ended June 30, 2026 compared to the six months ended June 30, 2025 primarily due to a gain on the swap associated with the sale of Visa, Inc. Class B Shares and an increase in BOLI income, partially offset by impairment charges recognized on bank premises and equipment associated with the acquisition of Comerica and a decrease in equity method investment income. Refer to Note 21 of the Notes to Condensed Consolidated Financial Statements for additional information on the valuation of the swap associated with the sale of Visa, Inc. Class B Shares and impairment charges recognized on bank premises and equipment.

Current wording

Other noninterest income decreased $11 million and increased $9 million for the three and nine months ended September 30, 2026, respectively, compared to the three and nine months ended September 30, 2025. The decrease for the three months ended September 30, 2026 was primarily due to an increase in the loss on the swap associated with the sale of Visa, Inc. Class B Shares and impairment charges recognized on bank premises and equipment associated with the acquisition of Comerica, partially offset by an increase in BOLI income. The increase for the nine months ended September 30, 2026 was primarily due to an increase in BOLI income and a decrease in the loss on the swap associated with the sale of Visa, Inc. Class B Shares, partially offset by impairment charges recognized on bank premises and equipment associated with the acquisition of Comerica. Refer to Note 21 of the Notes to Condensed Consolidated Financial Statements for additional information on the valuation of the swap associated with the sale of Visa, Inc. Class B Shares and impairment charges recognized on bank premises and equipment.

Previous wording

Noninterest expense increased $845 million and $1.9 billion for the three and six months ended June 30, 2026, respectively, compared to the same periods in the prior year, which was impacted by activity attributable to the Comerica acquisition and the integration of acquired operations.

Current wording

Noninterest expense increased $782 million and $2.7 billion for the three and nine months ended September 30, 2026, respectively, compared to the same periods in the prior year, which was impacted by activity attributable to the Comerica acquisition and the integration of acquired operations.

Previous wording

The Bancorp also incurred $10 million of merger-related expenses associated with the acquisition of a DUS business line during both the three and six months ended June 30, 2026.

Current wording

The Bancorp also incurred $10 million of merger-related expenses associated with the acquisition of a DUS business line during the nine months ended September 30, 2026.

Previous wording

Compensation and benefits expense increased $431 million and $1.1 billion for the three and six months ended June 30, 2026, respectively, compared to the same periods in the prior year primarily driven by aforementioned merger-related expenses, including employee retention

Current wording

Compensation and benefits expense increased $297 million and $1.4 billion for the three and nine months ended September 30, 2026, respectively, compared to the same periods in the prior year primarily driven by the aforementioned merger-related expenses, including employee retention and separation expenses, as well as increases in base compensation, performance-based compensation and employee benefits expense. Full-time equivalent employees totaled 25,069 at September 30, 2026 compared to 18,476 at September 30, 2025.

Previous wording

Technology and communications expense increased $124 million and $203 million for the three and six months ended June 30, 2026, respectively, compared to the same periods in the prior year primarily driven by the aforementioned merger-related expenses, as well as increased investments in strategic initiatives and technology modernization.

Current wording

Technology and communications expense increased $172 million and $375 million for the three and nine months ended September 30, 2026, respectively, compared to the same periods in the prior year primarily driven by the aforementioned merger-related expenses, increased investments in strategic initiatives and technology modernization as well as technology-related asset impairments.

Previous wording

Net occupancy expense increased $71 million and $124 million for the three and six months ended June 30, 2026, respectively, compared to the same periods in the prior year primarily driven by the aforementioned merger-related expenses, as well as increased expenses associated with the Bancorp’s continued expansion into the Southeast markets as well as into Texas and California.

Current wording

Net occupancy expense increased $55 million and $179 million for the three and nine months ended September 30, 2026, respectively, compared to the same periods in the prior year primarily driven by the aforementioned merger-related expenses, as well as increased expenses associated with the Bancorp’s continued expansion into the Southeast markets, Texas and California.

Previous wording

Card and processing expense increased $44 million and $101 million for the three and six months ended June 30, 2026, respectively, compared to the same periods in the prior year primarily driven by expenses associated with the Direct Express government prepaid card program. The increase for the six months ended June 30, 2026 also included the aforementioned merger-related expenses.

Current wording

Card and processing expense increased $38 million and $140 million for the three and nine months ended September 30, 2026, respectively, compared to the same periods in the prior year primarily driven by expenses associated with the Direct Express government prepaid card program. The increase for the nine months ended September 30, 2026 also included the aforementioned merger-related expenses.

Previous wording

Marketing expense increased $22 million and $43 million for the three and six months ended June 30, 2026, respectively, compared to the same periods in the prior year primarily due to increased spend on customer acquisition activities.

Current wording

Marketing expense increased $23 million and $66 million for the three and nine months ended September 30, 2026, respectively, compared to the same periods in the prior year primarily due to increased spend on customer acquisition activities.

Previous wording

Other noninterest expense increased $117 million and $311 million for the three and six months ended June 30, 2026, respectively, compared to the same periods in the prior year primarily driven by increases in intangible amortization expense, FDIC insurance and other taxes and data processing expense attributable to the Comerica acquisition. The increase for the six months ended June 30, 2026 also included $133 million in merger-related expenses. These expenses primarily included professional service fees, including mergers and acquisitions advisory expense, insurance expense and expense related to retirement termination benefits associated with former employees of Comerica. The increases in other noninterest expense for the three and six months ended June 30, 2026 were partially offset by net periodic pension benefit, excluding service cost, primarily driven by the impact of defined benefit plans acquired from Comerica. For more information, refer to Note 18 of the Notes to Condensed Consolidated Financial Statements.

Current wording

Other noninterest expense increased $174 million and $485 million for the three and nine months ended September 30, 2026, respectively, compared to the same periods in the prior year primarily driven by increases of $70 million and $203 million, respectively, in merger-related expenses. These expenses primarily included professional service fees, including mergers and acquisitions advisory expense, contract termination charges, insurance expense and expense related to retirement termination benefits associated with former employees of Comerica. Additionally, the increases for the three and nine months ended September 30, 2026 included increases in intangible amortization expense, FDIC insurance and other taxes and data processing expense attributable to the Comerica acquisition. The increases in other noninterest expense for the three and nine months ended September 30, 2026 were partially offset by net periodic pension benefit, excluding service cost, primarily driven by the impact of defined benefit plans acquired from Comerica. For more information, refer to Note 18 of the Notes to Condensed Consolidated Financial Statements.