Citizens Financial Group, Inc.

Strong Q3 performance + operating leverage (good): - EPS: $1.41 in Q3 (+8.5% QoQ, +34% YoY) - ROTCE: improved to 15.1% (from 13.9% in Q2) - Operating leverage: +1.8% QoQ and +5.3% YoY - Revenues: hit a record quarter; NII +2.7% QoQ and +13% YoY - NIM: reached 3.19%, +2 bps QoQ (and framed as meeting expectations despite rate volatility)

Guidance for Q4 and medium-term targets (key forecasts): - NII (Q4): expected +2.5% to +3% driven by margin expansion to 3.23%–3.26% - Noninterest income (Q4): +4% to +5% (capital markets + wealth cited) - Expenses (Q4): up ~1% - Credit/charge-offs (Q4): stable to down slightly; ending year at 10.6%–10.7% (CET1 mentioned in the capital section as well; see below for capital dynamics) - Operating leverage (full year): tracking to >600 bps positive operating leverage - 2027 ROTCE path: management reiterates clear path to 16%–18% ROTCE by end of 2027

Capital returns: dividend increase + buyback expansion (investor-relevant): - Dividend: increased 13% to $0.52/share - Share repurchase program: capacity increased to $1.95B (+ $1.3B) - Q3 shareholder return: about $322M ($197M dividends, $125M buybacks) - Expected Q4 buybacks: about $200M - Capital stance: despite lower AOCI-adjusted CET1, management is comfortable with gross CET1 ~10.5% within its 10%–10.5% target band (supports buybacks)