2ForwardlookingstatementsPrivateSecuritiesReformActcommunicationcontainslookingthatfuturenotpastcontextlookingaddressourexpectedfuturebusinessfinancialperformancefinancialconditioncontainwordssuchant ID: 887760
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1 Citizens Acquisition of East Coast Bran
Citizens Acquisition of East Coast Branches and National Online Deposits from HSBC May 26, 2021Expanding the Footprint in Key Strategic Markets with Significant Opportunity for Growth 2 Forward-lookingstatementsPrivateSecuritiesReformActcommunicationcontainslookingthatfuture,notpast,context,lookingaddressourexpectedfuturebusinessfinancialperformancefinancialcondition,containwordssuchanticipate,intend,believe,lookingnatureaddressdiffere
2 ntuncertain.Uncertaintiescouldcauseourre
ntuncertain.Uncertaintiescouldcauseourresultsmateriallydifferentourlookingincludefailureconsummatefilingotherrequiredconsummatesuchtransactionothercauseourfutureresultsmateriallydifferentourlookingcautionrelyinglookingneitherhistoricalfactnorassurancesfutureperformance.informationfactorscouldcauseresultsdiffermateriallythosedescribedlookingfoundFactorsourAnnualReport2020asSecuritiesExchangeCommission. 3 Checking42% MetroMid-AtlanticDepositsAc
3 quisition of HSBC East Coast Branches &
quisition of HSBC East Coast Branches & Online DepositsCitizens to acquire East Coast branches and national online deposit business ~$9.0B deposits~$2.2B loans; ~80% residential real estate secured2% premium paid on deposits at closingImmediately EPS accretive; IRR ~20%CET1 impact of ~24 bpsTransaction expected to close in 1Q22 subject to regulatory approvalsAnticipate simultaneous closing and conversion Summary of transaction Compelling strat
4 egic benefitsProvides entry into attract
egic benefitsProvides entry into attractive metro markets and enhances East Coast presence with 80 branchesNYC Metro (66), Mid-Atlantic/D.C. (9), Southeast FL (5)~800K retail customers, adding to existing 6.6 million retail customers Springboard for national expansion strategyOnboarding valuable low-cost deposits; ~9 bp average cost of deposits in 1Q21Pro-forma period end LDR improves from ~81% at 3/31/21 to ~78% with Offers funding flexibilit
5 y in support of Citizens attractive loa
y in support of Citizens attractive loan growth $2.2B Loans$9.0B Deposits ResidentialReal Estate Acquired deposits and loansDeposits by geography 4 Acquisition of HSBC East Coast Branches & Online Deposits HSBC acquired branches MD Pro-forma geographic footprint NY HSBC Branches Acquired CFG FootprintNew York Metro Southeast Florida Mid-Atlantic/D.C. Southeast Florida Source: SNL Financial, Florida locations for CFG represent wealth centers