04/18/2019

Citizens Financial Group, Inc. Reports First Quarter Net Income of $439 million and EPS of $0.92

Underlying net income of $443 million up 14% and EPS of $0.93 up 19% year over year

ROTCE of 13.0%; Underlying ROTCE of 13.1%, up 1.4% year over year

5.0% Underlying positive operating leverage year over year, before the impact of Acquisitions

Announces quarterly dividend of $0.32 per common share

PROVIDENCE, R.I.--(BUSINESS WIRE)-- Citizens Financial Group, Inc. (NYSE: CFG or “Citizens”) today reported first quarter 2019 financial results. The earnings press release, investor presentation, and financial supplement are available at http://investor.citizensbank.com. In addition, these materials will be furnished to the Securities and Exchange Commission (SEC) on a Form 8-K and will be available on the SEC website at www.sec.gov.

“We are pleased to start 2019 with a solid first quarter result as we continue to execute well on our strategic initiatives,” said Chairman and Chief Executive Officer Bruce Van Saun. “We continue to make significant investments to broaden our capabilities and strengthen our franchise. During the quarter we closed on the acquisitions of wealth management and M&A advisory firms, we began the rollout of our new cash management platform, and we launched four more Fintech partnerships. We continue to balance well our need to deliver improving near-term results with the imperative of adhering to a thoughtful long-term strategy."

Citizens also announced today that its board of directors declared a second quarter 2019 common stock dividend of $0.32 per share. The dividend is payable on May 15, 2019 to shareholders of record at the close of business on May 1, 2019. The quarterly dividend is now 45% higher than the year-ago quarter.

As previously announced, Citizens will host a conference call to review its first quarter 2019 financial results. Interested parties may access the call and related materials through the following details:

Conference Call

Time: 9:00 am ET

Dial-in: (800) 230-1085, conference ID 461320

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 11:00 am ET on April 18 through May 18, 2019. Please dial (800) 475-6701 and enter access code 461320. The webcast replay 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 $161.3 billion in assets as of March 31, 2019. Headquartered in Providence, Rhode Island, Citizens offers a broad range of retail and commercial banking products and services to individuals, small businesses, middle-market companies, large corporations and institutions. Citizens helps its customers reach their potential by listening to them and by understanding their needs in order to offer tailored advice, ideas and solutions. In Consumer Banking, Citizens provides an integrated experience that includes mobile and online banking, a 24/7 customer contact center and the convenience of approximately 2,900 ATMs and approximately 1,100 branches in 11 states in the New England, Mid-Atlantic and Midwest regions. Consumer Banking products and services include a full range of banking, lending, savings, wealth management and small business offerings. In Commercial Banking, Citizens offers corporate, institutional and not-for-profit clients a full range of wholesale banking products and services, including lending and deposits, capital markets, treasury services, foreign exchange and interest rate products, and asset finance. More information is available at www.citizensbank.com or visit us on Twitter, LinkedIn or Facebook.

CFG-IR

Media: Peter Lucht — 781.655.2289

Investors: Ellen A. Taylor — 203.900.6854

Source: Citizens Financial Group, Inc.