Core business momentum remains strong and Comerica acquisition meaningfully propels growth trajectory

Reported results included a net negative $0.68 impact from certain items on page 2

Fifth Third Bancorp (NASDAQ:FITB):

Key Financial Data							Key Highlights

$ in millions for all balance sheet and income statement items
	1Q26		4Q25		1Q25		Successfully closed Comerica acquisition Opening Balances as of February 1^st: Total assets, including goodwill, of $86 billion Total loans of $51 billion Total deposits of $65 billion Stability: Solid credit performance. Net charge-offs^(b) of 37 bps in 1Q26; lowest since 4Q23 Funding mix strengthened; demand deposits increased from 25% of total deposits to 28% Tangible Common Equity^(a) increased 11 bps to 7.3% Profitability: Net interest margin^(a) expanded 17 bps sequentially Adjusted ROTCE ex. AOCI^(a) improved 190 bps and adjusted ROA^(a) improved 9 bps year-over-year Tangible book value per share^(a) grew 15% year-over-year Growth: Newline deposits up $2.7B and fee revenues up 30% year-over-year Legacy Fifth Third consumer household growth of 3%, including 8% in the Southeast LOIs for 81 Texas branch locations executed or in process

Income Statement Data
Net income available to common shareholders	$128		$699		$478
Net interest income (U.S. GAAP)	1,934		1,529		1,437
Net interest income (FTE)^(a)	1,939		1,533		1,442
Noninterest income	895		811		694
Noninterest expense	2,395		1,309		1,304

Per Share Data
Earnings per share, basic	$0.16		$1.05		$0.71
Earnings per share, diluted	0.15		1.04		0.71
Book value per share	35.24		30.18		27.41
Tangible book value per share^(a)	22.88		22.60		19.92

Balance Sheet & Credit Quality
Average portfolio loans and leases	$157,632		$123,430		$121,272
Average deposits	209,352		168,384		164,157
Accumulated other comprehensive loss	(3,234)		(3,110)		(3,895)
Net charge-off ratio^(b)	0.37	%	0.40	%	0.46	%
Nonperforming asset ratio^(c)	0.57		0.65		0.81

Financial Ratios
Return on average assets	0.25	%	1.36	%	0.99	%
Return on average common equity	1.8		14.0		10.8
Return on average tangible common equity^(a)	3.5		19.0		15.2
CET1 capital^(d)	9.96		10.81		10.43
Net interest margin^(a)	3.30		3.13		3.03
Efficiency^(a)	84.5		55.8		61.0
Other than the Quarterly Financial Review tables beginning on page 14, commentary is on a fully taxable-equivalent (FTE) basis unless otherwise noted. Consistent with SEC guidance in Regulation S-K that contemplates the calculation of tax-exempt income on a taxable-equivalent basis, net interest income, net interest margin, net interest rate spread, total revenue and the efficiency ratio are provided on an FTE basis.

From Tim Spence, Fifth Third Chairman, CEO and President:

The first quarter reflected continued momentum across Fifth Third. We delivered strong loan and deposit growth, driven by new commercial relationships and continued household expansion. We closed the acquisition of Comerica on February 1st, and early financial benefits are already showing up, including strong net interest margin expansion and tangible book value per share growth.

Integration is progressing as we expected. We have integrated the combined management teams and are retaining key customer‑facing colleagues, supporting continuity for clients as we move forward as one organization. We are also seeing early revenue synergies across both commercial and consumer businesses.

Our focus is unchanged: stability, profitability, and growth, in that order. Disciplined execution will drive growth and deepen client relationships as we expand in our attractive footprint markets, while maintaining strong credit performance and delivering the expected financial synergies from Comerica. We are building a better and more resilient institution and remain committed to delivering consistent, long-term value for shareholders.

Income Statement Highlights
($ in millions, except per share data)	For the Three Months Ended			% Change
	March	December	March
	2026	2025	2025	Seq		Yr/Yr
Condensed Statements of Income
Net interest income (NII)^(a)	$1,939	$1,533	$1,442	26	%	34	%
Provision for credit losses	227	119	174	91	%	30	%
Noninterest income	895	811	694	10	%	29	%
Noninterest expense	2,395	1,309	1,304	83	%	84	%
Income before income taxes^(a)	$212	$916	$658	(77	)%	(68	)%

Taxable equivalent adjustment	$5	$4	$5	25	%	—
Applicable income tax expense	42	181	138	(77	)%	(70	)%
Net income	$165	$731	$515	(77	)%	(68	)%
Dividends on preferred stock	37	32	37	16	%	—
Net income available to common shareholders	$128	$699	$478	(82	)%	(73	)%
Earnings per share, diluted	$0.15	$1.04	$0.71	(86	)%	(79	)%

Fifth Third Bancorp (NASDAQ^®: FITB) today reported first quarter 2026 net income available to common shareholders of $128 million, or $0.15 per diluted share, compared to $699 million, or $1.04 per diluted share, in the prior quarter and $478 million, or $0.71 per diluted share, in the year-ago quarter.

On February 1, 2026, Fifth Third completed the acquisition of Comerica Incorporated in an all-stock transaction valued at approximately $12.7 billion. First quarter results include two months of activity for Comerica.

	Diluted earnings per share impact of certain item(s) - 1Q26
	(after-tax impact; $ in millions, except per share data)

	Merger-related charges^(e)^1,2	$(510)
	Merger-related Day 1 ACL build^(e)	(63)
	Interchange litigation matters^(e)	6

	After-tax impactof certain item(s)	$(567)

	Diluted earnings per share impact of certain item(s)³	$(0.68)

	Totals may not foot due to rounding; ¹A portion of the adjustments related to merger-related expenses are not tax-deductible; ²Pre-tax merger-related charges increased noninterest expense by $635 million and decreased noninterest income by $22 million; ³Diluted earnings per share impact reflects 830.274 million average diluted shares outstanding

Net Interest Income
(FTE; $ in millions)^(a)	For the Three Months Ended			% Change
	March	December	March
	2026	2025	2025	Seq	Yr/Yr
Interest Income
Interest income	$2,977	$2,472	$2,437	20%	22%
Interest expense	1,038	939	995	11%	4%
Net interest income (NII)	$1,939	$1,533	$1,442	26%	34%

Average Yield/Rate Analysis				bps Change
Yield on interest-earning assets	5.07%	5.05%	5.13%	2	(6)
Rate paid on interest-bearing liabilities	2.44%	2.60%	2.80%	(16)	(36)

Ratios
Net interest rate spread	2.63%	2.45%	2.33%	18	30
Net interest margin (NIM)	3.30%	3.13%	3.03%	17	27

Fully taxable-equivalent (FTE) NII of $1.939 billion increased $406 million, or 26%, compared to the prior quarter. This improvement primarily reflects contributions from the Comerica acquisition, lower funding costs and disciplined balance sheet management. These benefits were partially offset by the impact of market rates on floating rate loans and lower day count. These same factors contributed to the 17 bps increase in NIM compared to the prior quarter. Purchase accounting accretion contributed approximately $38 million to net interest income in the quarter.

Compared to the year-ago quarter, NII increased $497 million, or 34%, and NIM increased 27 bps. This improvement was driven by the addition of Comerica earning assets and lower funding costs, partially offset by lower market rates impacting earning asset yields.

Noninterest Income
($ in millions)	For the Three Months Ended			% Change
	March	December	March
	2026	2025	2025	Seq	Yr/Yr
Noninterest Income
Wealth and asset management revenue	$233	$185	$172	26%	35%
Commercial payments revenue	218	167	153	31%	42%
Consumer banking revenue	146	143	137	2%	7%
Capital markets fees	134	121	90	11%	49%
Commercial banking revenue	105	102	80	3%	31%
Mortgage banking net revenue	44	56	57	(21)%	(23)%
Other noninterest income	27	42	14	(36)%	93%
Securities losses, net	(12)	(5)	(9)	140%	33%
Total noninterest income	$895	$811	$694	10%	29%

Noninterest income of $895 million increased $84 million, or 10%, from the prior quarter and increased $201 million, or 29%, from the year-ago quarter. Both comparisons reflect two months of results from Comerica in the quarter. The reported results reflect the impact of certain items in the table below, including securities gains/losses which incorporate mark-to-market impacts from securities associated with non-qualified deferred compensation plans that are offset in noninterest expense.

Noninterest Income excluding certain items
($ in millions)	For the Three Months Ended			% Change
	March	December	March
	2026	2025	2025	Seq	Yr/Yr
Noninterest Income excluding certain items
Noninterest income (U.S. GAAP)	$895	$811	$694
Merger-related charges	22	—	—
Interchange litigation matters	(8)	8	18
Litigation settlements	—	(12)	—
Securities losses, net	12	5	9
Noninterest income excluding certain items^(a)	$921	$812	$721	13%	28%

Noninterest income excluding certain items of $921 million increased $109 million, or 13%, compared to the prior quarter and increased $200 million, or 28%, from the year-ago quarter.

Comparisons to the prior and year-ago quarters were primarily driven by merger‑related impacts with additional incremental contributions from positive business momentum. Wealth and asset management revenue totaled $233 million, supported by seasonal tax‑related revenue and higher personal asset management revenue. Commercial payments revenue was $218 million, reflecting continued strength in core treasury services. Capital markets fees of $134 million were driven by client financial risk management revenue. Commercial banking revenue totaled $105 million, reflecting higher commercial lending‑related fees. Mortgage banking net revenue was $44 million, reflecting lower MSR net valuation adjustments.

Noninterest Expense
($ in millions)	For the Three Months Ended			% Change
	March	December	March
	2026	2025	2025	Seq	Yr/Yr
Noninterest Expense
Compensation and benefits	$1,410	$683	$750	106%	88%
Technology and communications	204	138	123	48%	66%
Net occupancy expense	140	89	87	57%	61%
Card and processing expense	79	27	21	193%	276%
Equipment expense	55	43	42	28%	31%
Loan and lease expense	42	41	30	2%	40%
Marketing expense	50	37	28	35%	79%
Other noninterest expense	415	251	223	65%	86%
Total noninterest expense	$2,395	$1,309	$1,304	83%	84%

Noninterest expense of $2.395 billion increased 83% from the prior quarter and increased 84% from the year-ago quarter. Both comparisons include two months of Comerica results in the quarter and the reported results reflect the impact of certain items in the table below.

Noninterest Expense excluding certain item(s)
($ in millions)	For the Three Months Ended			% Change
	March	December	March
	2026	2025	2025	Seq	Yr/Yr
Noninterest Expense excluding certain item(s)
Noninterest expense (U.S. GAAP)	$2,395	$1,309	$1,304
Merger-related charges	(635)	(13)	—
Fifth Third Foundation contribution	—	(50)	—
FDIC special assessment	—	25	—
Interchange litigation matters	—	(3)	—
Noninterest expense excluding certain item(s)^(a)	$1,760	$1,268	$1,304

Fifth Third Bancorp Reports First Quarter 2026 Earnings