Fifth Third Bancorp

Strong Q3 profitability + synergy progress (and “conversion behind us”) - Adjusted EPS: $0.90 (or $1.13 excluding certain items). - Adjusted PPNR: +$8% QoQ to $1.5B (fees +1% QoQ, NII +3% QoQ; expenses down 2% QoQ with synergies driving most of the improvement). - Efficiency/returns: adjusted ROTCE 20.6%, adjusted ROA 1.41%, adjusted efficiency ratio 54.6%. - Synergies: expense synergies continuing; conversion was completed over Labor Day weekend. Remaining integration actions drive further step-down in costs, especially in Q4.

Deposits & revenue engines: growth outperformance in key regions; new strategic “I-Banking” opportunity - Core deposits: +3% sequentially (with loans +1%), supporting continued organic momentum. - Retail deposit ranking: FDIC dataset showed #1 in retail footprint and #3 nationally YoY retail deposit growth; in Texas, Dallas/Houston retail deposits +20%+ YoY and +40 bps market share. - De novo expansion: committed to 150 de novo branches in Texas over 3 years (first in Q3 next year); Southeast de novo program remains a key growth lever. - Fifth Third i-Banking launched: start-up/growth-stage focus combining Comerica’s tech/life sciences vertical with Fifth Third’s payments/digital/IB/wealth. Management sees ~$10B deposit opportunity by 2030 plus other revenue avenues.

Rates & balance sheet positioning: benefited from higher rates, but margin pressure and AOCI volatility - NII: $2.28B (+$56M QoQ); NIM 3.34% (-2 bps). - One-time-ish structural cash impact from conversion: migration of Comerica investment sweep products onto the balance sheet created higher short-term investments (reduced NIM by ~4 bps, but management says no material impact on NII). - Asset sensitivity management: added $2.5B to HTM at 4.9% yield, and $7B in received fixed cash flow hedges; management expects to benefit from further potential rate hikes.