Fifth Third Bancorp (FITB) investor relations material

Conference overview

• The event featured multiple presentations, focusing on the Comerica conversion and forward-looking financial guidance.

• Executives reported strong progress, with performance tracking at the upper end of net interest income and fee guidance, and lower end of expense guidance.

• The Comerica conversion was highly successful, integrating over 600,000 customers and nearly 300 branches, with minimal disruption and high customer retention.

• Expense synergies from Comerica are expected to reach $850 million by 2027, with gross savings now estimated north of $900 million.

• Customer retention post-conversion remains high, with commercial attrition below 1% and net growth in both commercial and consumer books.

Strategic initiatives and growth plans

• Expansion in the Southwest, California, and Texas is a priority, with plans to build up to 100 branches annually and 150 new branches by 2029, replicating the Southeast playbook.

• Revenue synergies of $500 million+ are targeted over 3-5 years, with opportunities in deposit growth, middle market lending, and innovation banking.

• Investments in technology, branch network, and talent are prioritized to support growth and efficiency.

• The efficiency ratio target is 53%, considered industry-leading, with flexibility to let more savings drop to the bottom line if growth opportunities do not materialize.

• By 2030, over half of the branch footprint will be in high-growth U.S. markets.

Financial performance and outlook

• Net interest margin is expected to remain in the mid-3.30s for the quarter, with a path to 3.40 as excess cash is redeployed.

• Deposit growth has been strong, aided by consumer and small business accounts, and the funding base is considered durable.

• Loan growth is expected to track nominal GDP plus 1-2%, focusing on middle market lending and avoiding higher-risk asset classes.

• Credit quality remains benign, with low charge-offs and healthy commercial and consumer portfolios.

• 3Q26 guidance includes 1% loan growth, 2-2.5% NII growth, and 1-3% noninterest income growth.