Barclays Global Financial Services Conference September 11, 2023 John Woods Vice Chairman and Chief Financial Officer Brendan Coughlin Vice Chairman and Head of Consumer Banking

2 Forward-looking statements and use of non-GAAP financial measures This document 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,” “hopeful,” “guidance” or similar expressions or future conditional verbs such as “may,” “will,” “should,” “would,” and “could.” Forward-looking statements are based upon the current beliefs and expectations of management, and on information currently available to management. Our statements speak as of the date hereof, and we do not assume any obligation to update these statements or to update the reasons why actual results could differ from those contained in such statements in light of new information or future events. We caution you, therefore, against relying on any of these forward-looking statements. They are neither statements of historical fact nor guarantees or assurances of future performance. While there is no assurance that any list of risks and uncertainties or risk factors is complete, important factors that could cause actual results to differ materially from those in the forward-looking statements include the following, without limitation: • Negative economic, business and political conditions, including as a result of the interest rate environment, supply chain disruptions, inflationary pressures and labor shortages, that adversely affect the general economy, housing prices, the job market, consumer confidence and spending habits; • The rate of growth in the economy and employment levels, as well as general business and economic conditions, and changes in the competitive environment; • Our ability to implement our business strategy, including the cost savings and efficiency components, and achieve our financial performance goals, including the anticipated benefits of the HSBC and Investors transactions; • The effects of geopolitical instability, including as a result of Russia’s invasion of Ukraine and the imposition of sanctions on Russia and other actions in response, on economic and market conditions, inflationary pressures and the interest rate environment, commodity price and foreign exchange rate volatility, and heightened cybersecurity risks; • Our ability to meet heightened supervisory requirements and expectations; • Liabilities and business restrictions resulting from litigation and regulatory investigations; • Our capital and liquidity requirements under regulatory capital standards and our ability to generate capital internally or raise capital on favorable terms; • The effect of changes in interest rates on our net interest income, net interest margin and our mortgage originations, mortgage servicing rights and mortgages held for sale; • Changes in interest rates and market liquidity, as well as the magnitude of such changes, which may reduce interest margins, impact funding sources and affect the ability to originate and distribute financial products in the primary and secondary markets; • The effect of changes in the level of checking or savings account deposits on our funding costs and net interest margin; • Financial services reform and other current, pending or future legislation or regulation that could have a negative effect on our revenue and businesses; • Environmental risks, such as physical or transitional risks associated with climate change and social and governance risks, that could adversely affect our reputation, operations, business, and customers. • A failure in or breach of our operational or security systems or infrastructure, or those of our third party vendors or other service providers, including as a result of cyber-attacks; and • Management’s ability to identify and manage these and other risks. In addition to the above factors, we also caution that the actual amounts and timing of any future common stock dividends or share repurchases will be subject to various factors, including our capital position, financial performance, capital impacts of strategic initiatives, market conditions, receipt of required regulatory approvals and other regulatory considerations, as well as any other factors that our Board of Directors deems relevant in making such a determination. Therefore, there can be no assurance that we will repurchase shares from or pay any dividends to holders of our common stock, or as to the amount of any such repurchases or dividends. More information about factors that could cause actual results to differ materially from those described in the forward-looking statements can be found in the “Risk Factors” section in Part I, Item 1A of our Annual Report on Form 10-K for the fiscal year ended December 31, 2022 as filed with the Securities and Exchange Commission. Non-GAAP Financial Measures: This document contains non-GAAP financial measures denoted as Underlying. Underlying results for any given reporting period exclude certain items that may occur in that period which Management does not consider indicative of the Company’s on-going financial performance. We believe these non-GAAP financial measures provide useful information to investors because they are used by our Management to evaluate our operating performance and make day-to-day operating decisions. In addition, we believe our Underlying results in any given reporting period reflect our on-going financial performance in that period and, accordingly, are useful to consider in addition to our GAAP financial results. We further believe the presentation of Underlying results increases comparability of period-to-period results. The Appendix presents reconciliations of our non- GAAP measures to the most directly comparable GAAP financial measures. Other companies may use similarly titled non-GAAP financial measures that are calculated differently from the way we calculate such measures. Accordingly, our non-GAAP financial measures may not be comparable to similar measures used by such companies. We caution investors not to place undue reliance on such non-GAAP financial measures, but to consider them with the most directly comparable GAAP measures. Non-GAAP financial measures have limitations as analytical tools and should not be considered in isolation or as a substitute for our results reported under GAAP.

3 Navigating well through a dynamic environment – Multi-year investments in fee-generation capabilities to deliver superior revenue growth in the medium term – Citizens Private Bank launched to rapidly build Wealth presence – New York Metro market entry progressing well; provides significant revenue growth potential – All other initiatives tracking well: Citizens Pay, Citizens Access, Private Capital Quality deposit franchise and strong liquidity position – Rigorous stress testing ensures liquidity levels are managed above required limits with appropriate buffers – Consumer deposit base represents ~67% of total deposits, near top of peer group – Established a Non-Core strategy to run off non-strategic lending and high-cost funding – ~70% of our deposits are insured by the FDIC or secured(1) – CET1 ratio of 10.3%, among the strongest in our peer group before and after AOCI opt-out removal – Tightened risk appetite and selective in growing loans, emphasizing attractive relationship-oriented lending – Continue to be well reserved for credit issues – Prudent hedging to maintain protection to significant downside in rates well into 2026 – TOP 8 on target to achieve ~$115 million pre-tax run-rate benefit by YE2023; planning for TOP 9 underway Strong defense to manage the risks of a challenging environment – Track record of strong execution – Commitment to operating and financial discipline – Excellence in our capabilities, highly competitive with mega-banks and peers – Citizens expects to deliver 2023 mid-teens ROTCE through a challenging environment Citizens has performed well since the IPO given a sound strategy, capable and experienced leadership and a strong customer-focused culture Citizens continues to have a series of unique initiatives that will lead to relative medium-term outperformance Positioning the company well to manage through potential regulatory changes See page 31 for notes and important information on Non-GAAP Financial Measures, including “Underlying” results. “Underlying” results exclude the impact of notable items.

4 Strong franchise with leading positions in attractive markets Highlights Attractive footprint with large mass-affluent and affluent segments Deposits from all 50 states Assets Deposits Loans $223B $178B $151B All-time high customer satisfaction in Consumer and Commercial Customer growth(1) In millions Assets under management growth $s in billions Strong league table results(2) Middle market bookrunner by deal count 12 months ended December 31, 2022 As of June 30, 2023 See page 31 for notes and important information on Non-GAAP Financial Measures, including “Underlying” results. “Underlying” results exclude the impact of notable items.

5 198,217,24155,96,146 127, 127, 1270,157, 120 Citizens Green 91,137,193189,221,209 192,192,192 255,201,47 Primary ------ use colors in this direction ------ Secondary Strong 2Q23 capital and liquidity performance and momentum CET1 Ratio Spot loans, spot deposits, spot LDR 10.0% 10.3% 9.6% 1Q23 2Q23 Peer Median Period Ending 90% 85% 1Q23 2Q23 $172 $178 1Q23 2Q23 68% 70% 1Q23 2Q23 Strong absolute and relative capital position Loans-to-deposit ratio Improved loans-to-deposit ratio Strong spot deposit growth Resilient retail-oriented deposit base outpacing peers % Insured/secured deposits Improvement in insured/secured deposits +3% vs Peer Median +0.7% $ in billions

6 Demand 23% Money Market 30% Checking with interest 20% Citizens Access™ Savings 6% Savings 10% Term 11% 60% 68% 70% 4Q22 1Q23 2Q23 55% 67% 67% 2Q23 1Q23 2Q23 Branch Deposits 46% Citizens Access™ 6% Wealth 1% Business Banking 13% Commercial 27% Treasury/ Other 7% (As of 6/30/23) Highly diversified and retail-oriented deposit base $178B Period-end deposits Peer Avg(1) 27% 26% 23% 4Q22 1Q23 2Q23 Business mix Product mix Total deposits insured/secured(2) % Consumer Banking deposits DDA as % of total deposits See page 31 for notes and important information on Non-GAAP Financial Measures, including “Underlying” results. “Underlying” results exclude the impact of notable items.

7 198,217,24155,96,146 127, 127, 1270,157, 120 Citizens Green 91,137,193189,221,209 192,192,192 255,201,47 Primary ------ use colors in this direction ------ Secondary CFG’s strong capital position relative to peers CET1 ratio (2Q23)(1) 10.6% 10.3% 10.3% 10.1% 9.8% 9.6% 9.5% 9.5% 9.3% 9.1% Peer 1 CFG Peer 2 Peer 3 Peer 4 Peer 5 Peer 6 Peer 7 Peer 8 Peer 9 10.2% 8.5% 7.7% 7.7% 7.5% 6.8% 6.8% 6.6% 6.5% 6.1% Peer 1 CFG Peer 2 Peer 3 Peer 4 Peer 5 Peer 6 Peer 7 Peer 8 Peer 9 CET1 ratio adjusted for AOCI opt-out removal (2Q23)(2) See page 31 for notes and important information on Non-GAAP Financial Measures, including “Underlying” results. “Underlying” results exclude the impact of notable items.

8 198,217,24155,96,146 127, 127, 1270,157, 120 Citizens Green 91,137,193189,221,209 192,192,192 255,201,47 Primary ------ use colors in this direction ------ Secondary $179 $186 2Q23 2Q23 Pro forma (fully phased in) Well positioned for new regulations - Capital 2Q23 CET1 ratio adjusted for AOCI opt-out removal(1) Estimated RWA impact ~+4% $s in billions ■ CET ratio of 10.3% among the highest within peer group ■ CET1 ratio adjusted for AOCI opt-out removal of 8.5% also near top of the peer group ■ Expect RWA increase of ~4% on a fully-phased in basis based on initial assessment of NPR – Operational risk drives majority of the RWA increase, partially offset by lower RWA for credit risk (primarily CRE, retail and off-balance sheet commercial commitments) ~ AOCI opt-out removal impact Basel III Endgame RWA impacts Well positioned to build capital towards 9.5-10.0% CET1 ratio adjusted for AOCI opt-out and fully phased-in RWA impacts before the phase-in period starts (excluding share repurchases) See page 31 for notes and important information on Non-GAAP Financial Measures, including “Underlying” results. “Underlying” results exclude the impact of notable items. 10.3% 8.5% 2Q23 2Q23 Pro forma (AOCI opt-out removal)

9 198,217,24155,96,146 127, 127, 1270,157, 120 Citizens Green 91,137,193189,221,209 192,192,192 255,201,47 Primary ------ use colors in this direction ------ Secondary Well positioned for new regulations - Liquidity 114% 97%Category I Category III Pro forma LCR at 6/30/2023 Further strengthening LCR ■ Awaiting clarity on new rules for Category IV banks regarding liquidity coverage ratio requirements – Proactively bolstering LCR in advance of potential NPR ■ Compliant at June 30th, 2023 with LCR requirements for Category III banks ■ High-quality deposit base provides a strong foundation for liquidity – 70% insured/secured(1); ~67% Consumer ■ Total cash and securities as a % of interest- earning assets to increase from ~22% in 2Q23 to ~25% in 4Q23 ■ Reducing FHLB and increasing structural funding ■ Executing collateralized borrowings to ring- fence funding for the auto portfolio ■ Managing LDR toward low/mid 80s for YE2023 Anticipating new requirementsImproving liquidity profile See page 31 for notes and important information on Non-GAAP Financial Measures, including “Underlying” results. “Underlying” results exclude the impact of notable items.

10 198,217,24155,96,146 127, 127, 1270,157, 120 Citizens Green 91,137,193189,221,209 192,192,192 255,201,47 Primary ------ use colors in this direction ------ Secondary Well positioned for new regulations - Long-term debt requirements Commentary Expected financial impacts ■ Would expect to meet proposed long-term debt requirements with programmatic issuance over multiple year phase-in period – Incremental ~$4.3B eligible long-term debt needed to achieve 6% of RWA based on 2Q23 levels – 3-year phase-in period after finalization of NPR provides a manageable runway; expect to be measured and opportunistic ■ 2Q23 pro forma impact from incremental issuance expected to be $0.04-$0.08 per share annualized – Assumes a reduction in other higher-cost funding (primarily FHLB advances) – Equates to a 1-2% EPS impact over the phase-in period $3.5 2 $3.5 6 $6.4 $6.4 $4.3 3.6% 6.0% Eligible long-term debt Eligible long-term debt build required Eligible long-term debt as % of RWA 2Q23 2Q23 Pro forma Manageable long-term debt requirement$s in billions

11 Key strategic initiatives Citizens Private Bank New York City Metro Citizens Access/Citizens Pay Capturing the Private Capital opportunity TOP 8/9 We continue to invest in a series of unique initiatives that position Citizens for medium-term outperformance vs. peers I II III IV V VI Balance Sheet Optimization (BSO) and evolving regulations

12 $13.7 $11.1 $7.2 $4.5 $13.7 $10.4 $8.3 $5.2 $3.0 $3.3 $2.8 $2.0 $1.5$8.0 $5.7 I. BSO actions to further strengthen capital & liquidity, improve returns ~$9.2B reduction expected by end of 2025; opportunistic sales may accelerate Education and other retail (purchased) Non-Core portfolio High-cost funding ~4.2% Loan yield (w.a.) ~5.5% Funding cost (w.a.) ~$13.7 billion Non-Core portfolio Indirect auto High-beta deposits Collateralized borrowings ■ Placing indirect auto into Non-Core given decision to exit this business ■ Placing all purchase flow agreement consumer loans in Non-Core (these agreements ceased in 2022) ~95% fixed-rate; ~2.0 years WAL Summary of planned actions Immediately accretive to NIM, ROTCE and EPS 2Q23 4Q23 4Q24 4Q25 2H2023 focus is on liquidity improvement 2024/25 will see more strategic loan growth and Private Bank loans exceed Non-Core run-off $s in billions

13 Loan reduction through FY2025 I. BSO actions to further strengthen capital & liquidity, improve returns ■ Of the ~$9.2 billion in Non-Core rundown by YE2025: – ~25% supports organic loan growth (Commercial, HELOC, Card, Citizens Pay) – ~25% pays down funding – ~50% is invested in cash and securities ■ Utilize collateralized borrowings to ring-fence funding for auto portfolio and reduce FHLB borrowings Summary of planned actions $13.7B Non-Core portfolio run-off through YE2025 Redeployment through YE2025 in Legacy Core $s in billions Funding pay-down Strategic loan growth Cash and securities $9.2 ~25% ~25% ~50% ■ Further strengthens liquidity position in anticipation of new rules ■ Reduction in RWA to improve capital efficiency ■ ~$3B in auto collateralized borrowings executed to- date Improves liquidity and capital efficiency Strategic remixing of the balance sheet $9.2

14 II. Building Private Banking capabilities Added ~50 senior private bankers and ~100 related support staff in Boston, South Florida, New York, and California Boosts growth plans in Wealth Management and Business Banking Regional branch network Light branch network National digital retail deposits and lending, and Commercial Banking client coverage Private Banking coverage in key geographies Private Bankers to deliver Private Banking, Business Banking and Private Wealth Management products and services to clients in a "white-glove", client-focused way ■ Hired ~50 senior bankers and ~100 support staff; adding additional talent to round out the effort ■ Accelerates growth plans in key markets: Metro New York, Boston, South Florida, and California ■ Adds new presence and capabilities on the West Coast which complements JMP and our commercial activities ■ Building a distinctive premier wealth offering leveraging Clarfeld as centerpiece ■ Enhances existing coverage of the innovation economy through Private Equity and Venture Capital verticals Launch of Citizens Private Bank