Citizens Financial Group, Inc. Reports Third Quarter 2022 Net Income of $636 Million and EPS of $1.23

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PROVIDENCE, RI–(BUSINESS WIRE)–Citizens Financial Group, Inc. (NYSE: CFG or “Citizens”) today released its third quarter 2022 financial results. The earnings press release, investor presentation and financial supplement are available at http://investor.citizensbank.com. In addition, these documents will be provided to the Securities and Exchange Commission (SEC) on a Form 8-K and will be available on the SEC’s website at www.sec.gov.

“It was another great quarter for Citizens,” said Chairman and CEO Bruce Van Saun. “We continue to enjoy the benefits of higher rates, with custody costs under control, higher net interest margin and net interest income. Our balance sheet management strategies generated stable deposits and attractive commercial loan growth, while streamlining selective acquired portfolios and automotive. Our integration efforts around the New York City Subway acquisitions are progressing well and we continue to drive strong execution of our strategic initiatives while demonstrating our usual spending discipline. Credit metrics remain supportive and we feel well prepared for changes in the macroeconomic environment.

Citizens also announced today that its board of directors has declared a quarterly common stock dividend of $0.42 per share. The dividend is payable on November 16, 2022 to shareholders of record at the close of business on November 2, 2022.

As previously announced, Citizens will host a live conference call to review its third quarter 2022 financial results. Interested parties can access the call and related materials via the following details:

Conference call

Time: 9:00 a.m. ET

Call: (877) 336-4440, conference ID 6086305

Webcast/Presentation: The live webcast will be available at http://investor.citizensbank.com under Events & Presentations.

Replay Information: A replay of the conference call will be available beginning at 12:00 p.m. ET from October 19, 2022 through November 19, 2022. Please dial (866) 207-1041 and enter passcode 8979691. The replay of the webcast will be available at http://investor.citizensbank.com under Events & Presentations.

About Citizens Financial Group, Inc..

Citizens Financial Group, Inc. is one of the nation’s oldest and largest financial institutions, with $224.7 billion in assets as of September 30, 2022. Headquartered in Providence, Rhode Island, Citizens offers a wide range of retail and commercial banking products and services for individuals, small businesses, ETIs, large corporations and institutions. Citizens helps its clients reach their potential by listening to them and understanding their needs in order to offer advice, ideas and tailor-made solutions. In Consumer Banking, Citizens offers an integrated experience that includes mobile and online banking, a full-service customer contact center, and the convenience of approximately 3,400 ATMs and approximately 1,200 branches in 14 states and the district. of Columbia. Consumer Banking’s products and services include a full suite of banking, lending, savings, wealth management and small business offerings. In commercial banking, Citizens offers a wide range of financial products and solutions, including lending and leasing services, deposit and cash management services, foreign exchange risk management solutions, interest rate interest and commodities, as well as loan syndication, corporate finance, mergers and acquisitions, and debt and equity markets capabilities. More information is available at www.citizensbank.com or visit us at TwitterLinkedIn or Facebook.

Caution Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statement that does not describe historical or current facts is a forward-looking statement. These statements often include the words “believes”, “expects”, “anticipates”, “estimates”, “intends”, “plans”, “goals”, “targets”, “initiatives”, ” potentially”, “probably”. “projects”, “outlook”, “direction” or similar expressions or future or conditional verbs such as “may”, “shall”, “should”, “would” and “could”. Forward-looking statements are based on management’s current beliefs and expectations, as well as information currently available to management. Our statements speak as of the date hereof, and we undertake no obligation to update such statements or to update why actual results may differ from those contained in such statements in light of new information or changes. future events. We therefore advise you not to rely on any of these forward-looking statements. They are neither statements of historical facts nor guarantees or assurances of future performance. Further information about the factors that could cause actual results to differ materially from those described in the forward-looking statements is available under “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31. 2021 and in our quarterly report. on Form 10-Q for the period ended March 31, 2022, as filed with the United States Securities and Exchange Commission.

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