Exhibit 99.1

Fifth Third Announces Second Quarter 2019 Results

Reported diluted earnings per share of $0.57

Reported results included a negative $0.14 impact from certain items on page 2 including merger-related expenses

Quarterly comparisons are impacted by significant Worldpay gains from the prior quarter and year-ago quarter

Key Financial Data										Key Highlights
$ millions for all balance sheet and income statement items	2Q19			1Q19			2Q18				●   Successful integration of MB Financial ●   Remain on-track to achieve MB expense savings by      1Q20 ($255 million pre-tax); expect to achieve ~80% of      run-rate savings by year-end ●   Noninterest expense, noninterest income, and net      interest income performance better than prior guidance ●   NIM(a) up 16 bps compared to 2Q18 (up 11 bps excl.      purchase accounting accretion) and up 9 bps      compared to 1Q19 (up 4 bps excl. purchase      accounting accretion) ●   Period end loan to core deposit ratio decreased 2%      while effectively managing interest bearing core deposit      costs (up 4 bps vs. 1Q19) ●   ROTCE(a) of 12.3% (adjusted 15.1%, or 15.8% excl.      accumulated other comprehensive income) ●   Named “Best Regional Bank” for second consecutive      year by Kiplinger
Income Statement Data
Net income available to common shareholders		$427			$760			$579
Net interest income (U.S. GAAP)		1,245			1,082			1,020
Net interest income (FTE)(a)		1,250			1,086			1,024
Noninterest income		660			1,101			743
Noninterest expense		1,243			1,097			1,001
Per Share Data
Earnings per share, basic		$0.57			$1.14			$0.84
Earnings per share, diluted		0.57			1.12			0.82
Book value per share		26.17			24.77			21.75
Tangible book value per share(a)		20.03			18.64			18.08
Balance Sheet & Credit Quality
Average portfolio loans and leases		$110,095			$97,773			$92,557
Average deposits		124,345			109,591			103,945
Net charge-off ratio(b)		0.29	%		0.32	%		0.41	%
Nonperforming asset ratio(c)		0.51			0.45			0.52
Financial Ratios
Return on average assets		1.08	%		2.11	%		1.71	%
Return on average common equity		9.1			19.6			15.9
Return on average tangible common equity(a)		12.3			23.9			19.2
CET1 capital(d)(e)		9.58			9.60			10.91
Net interest margin(a)		3.37			3.28			3.21
Efficiency(a)		65.1			50.2			56.7
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 Industry Guide 3 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.

CEO Commentary

“Our second quarter performance reflected continued positive momentum throughout our businesses as well as the impact of integrating MB Financial. Excluding merger-related expenses, second quarter financial results exceeded our prior expectations, reflecting diligent expense management throughout the Company and strong net interest income growth. The net charge-off ratio also improved both sequentially and year-over-year, reflecting the generally stable macroeconomic environment during the quarter.

During the quarter, we completed the conversion of substantially all systems associated with our acquisition of MB Financial. We remain on track to achieve the previously stated financial synergies from the transaction, which will meaningfully improve our key profitability metrics.

With a clearly defined set of strategic priorities, we remain confident in our ability to generate revenue growth, achieve positive operating leverage, and create significant value for our shareholders.”

-Greg D. Carmichael, Chairman, President and CEO

Investor contact: Chris Doll (513) 534–2345 | Media contact: Gary Rhodes (513) 534–4225 July 23, 2019    

Income Statement Highlights
($ in millions, except per share data)	For the Three Months Ended			% Change
	June	March	June
	2019	2019	2018	Seq	Yr/Yr
Condensed Statements of Income
Net interest income (NII)(a)	$1,250	$1,086	$1,024	15%	22%
Provision for credit losses	85	90	14	(6%)	507%
Noninterest income	660	1,101	743	(40%)	(11%)
Noninterest expense	1,243	1,097	1,001	13%	24%
Income before income taxes(a)	$582	$1,000	$752	(42%)	(23%)
Taxable equivalent adjustment	5	4	4	25%	25%
Applicable income tax expense	124	221	146	(44%)	(15%)
Net income	$453	$775	$602	(42%)	(25%)
Less: Net income attributable to noncontrolling interests	-	-	-	NM	NM
Net income attributable to Bancorp	$453	$775	$602	(42%)	(25%)
Dividends on preferred stock	26	15	23	73%	13%
Net income available to common shareholders	$427	$760	$579	(44%)	(26%)
Earnings per share, diluted	$0.57	$1.12	$0.82	(49%)	(30%)

Fifth Third Bancorp (Nasdaq: FITB) today reported second quarter 2019 net income of $453 million compared to net income of $602 million in the year-ago quarter. Net income available to common shareholders was $427 million, or $0.57 per diluted share, compared to $579 million, or $0.82 per diluted share in the year-ago quarter. Prior quarter net income was $775 million and net income available to common shareholders was $760 million, or $1.12 per diluted share.

Diluted earnings per share impact of certain items
(after-tax impacts(f); $ in millions, except per share data)
Merger-related expenses	($84	)
Valuation of Visa total return swap	($17	)
After-tax impact(f) of certain items	($101	)
Average diluted common shares outstanding (thousands)	747,750
Diluted earnings per share impact	($0.14	)

2

Net Interest Income
(FTE; $ in millions)(a)	For the Three Months Ended						% Change
	June		March		June
	2019		2019		2018		Seq		Yr/Yr
Interest Income
Interest income		$1,641		$1,437		$1,273		14%		29%
Interest expense		391		351		249		11%		57%
Net interest income (NII)		$1,250		$1,086		$1,024		15%		22%
Adjusted NII(a)		$1,234		$1,085		$1,024		14%		21%
Average Yield/Rate Analysis								bps Change
Yield on interest-earning assets		4.42%		4.33%		3.98%		9		44
Rate paid on interest-bearing liabilities		1.47%		1.46%		1.12%		1		35
Ratios
Net interest rate spread		2.95%		2.87%		2.86%		8		9
Net interest margin (NIM)		3.37%		3.28%		3.21%		9		16
Adjusted NIM(a)		3.32%		3.28%		3.21%		4		11

Compared to the year-ago quarter, NII increased $226 million, or 22%. Purchase accounting accretion associated with the non-purchase credit impaired loan portfolio from the MB Financial acquisition was $16 million in the second quarter of 2019. Excluding the purchase accounting accretion, adjusted NII increased $210 million, or 21%, primarily driven by the impact of the earning assets from the MB Financial acquisition and higher short-term market rates. Compared to the year-ago quarter, NIM increased 16 bps, or 11 bps, excluding the purchase accounting accretion. Performance was driven by higher short-term market rates, partially offset by higher funding costs and a continued migration from demand deposits into interest-bearing deposits.

Compared to the prior quarter, NII increased $164 million, or 15%. Excluding the purchase accounting accretion, adjusted NII increased $149 million, or 14%, primarily reflecting the full-quarter impact of the acquired earning assets from the MB Financial acquisition and a higher day count, partially offset by lower short-term market rates and a slight increase in funding costs. Compared to the prior quarter, NIM increased 9 bps. Excluding the purchase accounting accretion, adjusted NIM increased 4 bps, primarily reflecting the full-quarter impact of the acquired earning assets from the MB Financial acquisition, partially offset by lower short-term market rates and a higher day count.

3

Noninterest Income
($ in millions)		For the Three Months Ended							% Change
	June		March		June
	2019		2019		2018			Seq		Yr/Yr
Noninterest Income
Service charges on deposits		$143		$131		$137			9%	4%
Corporate banking revenue		137		112		120			22%	14%
Mortgage banking net revenue		63		56		53			13%	19%
Wealth and asset management revenue		122		112		108			9%	13%
Card and processing revenue		92		79		84			16%	10%
Other noninterest income		93		592		250			(84%)	(63%)
Securities gains (losses), net		8		16		(5	)		(50%)	NM
Securities gains (losses), net - non-qualifying hedges on mortgage servicing rights		2		3		(4	)		(33%)	NM
Total noninterest income		$660		$1,101		$743			(40%)	(11%)
Reported noninterest income decreased $83 million, or 11%, from the year-ago quarter, and decreased $441 million, or 40%, from the prior quarter. The reported results reflect the full-quarter impact of the MB Financial acquisition on March 22, 2019, and the impact of certain items in the table below including significant Worldpay gains in both the prior quarter and year-ago quarter.
Noninterest Income excluding certain items
($ in millions)	For the Three Months Ended
	June		March		June
	2019		2019		2018
Noninterest Income excluding certain items
Noninterest income (U.S. GAAP)		$660		$1,101		$743
Valuation of Visa total return swap		22		31		10
Merger-related branch network impairment charge		-		13		-
Gain on sale of Worldpay shares		-		(562)		(205)
Branch network impairment charge		-		-		30
Gain from GreenSky IPO		-		-		(16)
GreenSky equity securities (gains) / losses		-		(9)		-
Securities (gains) / losses, net (excluding GreenSky)		(8)		(7)		5
Noninterest income excluding certain items(a)		$674		$567		$567

Compared to the year-ago quarter, service charges on deposits increased $6 million, or 4%, primarily driven by higher commercial deposit fees, partially offset by lower consumer deposit fees. Corporate banking revenue increased $17 million, or 14%, primarily driven by business solutions revenue resulting from the MB Financial acquisition. Mortgage banking net revenue increased $10 million, or 19%, primarily driven by higher mortgage originations of $2.9 billion, an increase of 36%. Wealth and asset management revenue increased $14 million, or 13%, primarily driven by higher personal asset management revenue and institutional trust fees. Card and processing revenue increased $8 million, or 10%, reflecting increases in credit and debit transaction volumes, partially offset by higher rewards.

4

Compared to the prior quarter, service charges on deposits increased $12 million, or 9%, primarily driven by higher commercial deposit fees, partially offset by lower consumer deposit fees. Corporate banking revenue increased $25 million, or 22%, primarily driven by business solutions revenue resulting from the MB Financial acquisition. Mortgage banking net revenue increased $7 million, or 13%, primarily driven by a 76% increase in origination volumes. Wealth and asset management revenue increased $10 million, or 9%, primarily driven by higher personal asset management revenue and institutional trust fees, partially offset by seasonally strong tax-related private client service revenue in the prior quarter. Card and processing revenue increased $13 million, or 16%, reflecting increases in credit and debit transaction volumes, partially offset by higher rewards.

Compared to both the year-ago quarter and prior quarter, noninterest income excluding the items in the table above increased $107 million, or 19%, reflecting the full-quarter impact of the MB Financial acquisition.

Other noninterest income results on a reported basis in the current and previous quarters were impacted by the Visa total return swap valuation adjustments, branch network impairment charges, Worldpay-related gains, and GreenSky IPO gain. Excluding these items, other noninterest income of $115 million increased $46 million, or 67%, compared to the year-ago quarter, primarily driven by other noninterest income from MB Financial. Compared to the prior quarter, other noninterest income excluding these items increased $41 million, or 55%, primarily driven by other noninterest income from MB Financial.

Noninterest Expense
($ in millions)		For the Three Months Ended						% Change
	June		March		June
	2019		2019		2018		Seq		Yr/Yr
Noninterest Expense
Compensation and benefits		$641		$610		$549		5%	17%
Net occupancy expense		88		75		74		17%	19%
Technology and communications		136		83		67		64%	103%
Equipment expense		33		30		30		10%	10%
Card and processing expense		34		31		30		10%	13%
Intangible amortization expense		14		3		1		NM	NM
Other noninterest expense		297		265		250		12%	19%
Total noninterest expense		$1,243		$1,097		$1,001		13%	24%
Impacts of Merger-Related Expenses
($ in millions)	For the Three Months Ended
	June		March		June
	2019		2019		2018
Merger-Related Expenses
Compensation and benefits		$41		$35		$-
Net occupancy expense		6		-		-
Technology and communications		49		11		-
Equipment expense		1		-		-
Card and processing expense		1		-		-
Intangible amortization expense		-		-		-
Other noninterest expense		11		30		2
Total merger-related expenses		$109		$76		$2

5

Noninterest Expense excluding Merger-Related Expenses(a)
($ in millions)	For the Three Months Ended						% Change
	June		March		June
	2019		2019		2018		Seq		Yr/Yr
Noninterest Expense excluding Merger-Related Expenses
Compensation and benefits		$600		$575		$549		4%		9%
Net occupancy expense		82		75		74		9%		11%
Technology and communications		87		72		67		21%		30%
Equipment expense		32		30		30		7%		7%
Card and processing expense		33		31		30		6%		10%
Intangible amortization expense		14		3		1		NM		NM
Other noninterest expense		286		235		248		22%		15%
Total noninterest expense excluding merger-related expenses		$1,134		$1,021		$999		11%		14%

Compared to the year-ago quarter, reported noninterest expense increased $242 million, or 24%, impacted by merger-related expenses and the full quarter impact of ongoing expenses from the MB Financial acquisition. Excluding the merger-related expenses noted in the table above and intangible amortization expense, noninterest expense increased $122 million, or 12%, driven by higher other noninterest expense from the MB Financial acquisition (primarily operating lease expense), higher compensation and benefits as well as continued technology investments. The growth was partially offset by a decrease in incentive based payments and the elimination of the FDIC surcharge. Noninterest expense from the year-ago quarter included the impact of compensation expense primarily related to a staffing review as well as a contribution to the Fifth Third Foundation.

Compared to the prior quarter, reported noninterest expense increased $146 million, or 13%, and was impacted by merger-related expenses and elevated other noninterest expense. Excluding the merger-related expenses and the aforementioned intangible amortization expense, noninterest expense increased $102 million, or 10%, driven by higher other noninterest expense from the MB Financial acquisition (primarily operating lease expense), and an increase in technology and communications expense.

6

Average Interest-Earning Assets
($ in millions)	For the Three Months Ended						% Change
	June		March		June
	2019		2019		2018		Seq		Yr/Yr
Average Portfolio Loans and Leases
Commercial loans and leases:
Commercial and industrial loans		$52,078		$46,011		$42,292		13%	23%
Commercial mortgage loans		10,632		7,414		6,514		43%	63%
Commercial construction loans		5,248		4,838		4,743		8%	11%
Commercial leases		3,809		3,555		3,847		7%	(1%)
Total commercial loans and leases		$71,767		$61,818		$57,396		16%	25%
Consumer loans:
Residential mortgage loans		$16,804		$15,624		$15,581		8%	8%
Home equity		6,376		6,355		6,672		-	(4%)
Indirect secured consumer loans		10,190		9,176		8,968		11%	14%
Credit card		2,408		2,396		2,221		1%	8%
Other consumer loans		2,550		2,404		1,719		6%	48%
Total consumer loans		$38,328		$35,955		$35,161		7%	9%
Portfolio loans and leases		$110,095		$97,773		$92,557		13%	19%
Loans held for sale		898		589		675		52%	33%
Securities and other short-term investments		37,797		36,101		34,935		5%	8%
Total average interest-earning assets		$148,790		$134,463		$128,167		11%	16%

Compared to the year-ago quarter, average total portfolio loans and leases increased 19%, reflecting the impact of the MB Financial acquisition near the end of the first quarter of 2019. Average commercial portfolio loans and leases increased 25%, reflecting the impact of MB Financial as well as higher commercial and industrial (C&I) and commercial mortgage loans, partially offset by a decline in commercial leases. Average consumer portfolio loans increased 9%, reflecting the impact of MB Financial as well as growth in other consumer loans and indirect secured consumer loans.

Compared to the prior quarter, average total portfolio loans and leases increased 13%, reflecting the full-quarter impact of MB Financial. Average commercial portfolio loans and leases increased 16%, reflecting the full-quarter impact of MB Financial, partially offset by a decline in commercial leases. Average consumer portfolio loans increased 7%, reflecting the full-quarter impact of MB Financial as well as growth in indirect secured consumer loans and other consumer loans.

Period end commercial line utilization was 37%, compared to 35% in the year-ago quarter and 38% in the prior quarter.

Average securities and other short-term investments were $37.8 billion compared to $34.9 billion in the year-ago quarter and $36.1 billion in the prior quarter. Growth in the portfolio reflected both the impact from MB Financial and an increase in other short-term investments driven by strong deposit growth in excess of loan growth. Average available-for-sale debt and other securities of $34.7 billion increased 6% compared to the year-ago quarter increased 3% compared to the prior quarter.

7

Average Deposits
($ in millions)	For the Three Months Ended						% Change
	June		March		June
	2019		2019		2018		Seq		Yr/Yr
Average Deposits
Demand		$35,818		$30,557		$32,834		17%		9%
Interest checking		36,514		33,697		28,715		8%		27%
Savings		14,418		13,052		13,618		10%		6%
Money market		25,934		23,133		22,036		12%		18%
Foreign office(g)		163		208		371		(22%)		(56%)
Total transaction deposits		$112,847		$100,647		$97,574		12%		16%
Other time		5,678		4,860		4,018		17%		41%
Total core deposits		$118,525		$105,507		$101,592		12%		17%
Certificates - $100,000 and over		5,780		3,358		2,155		72%		168%
Other deposits		40		726		198		(94%)		(80%)
Total average deposits		$124,345		$109,591		$103,945		13%		20%

Compared to the year-ago quarter, average core deposits increased 17%, primarily driven by higher interest checking deposits, money market deposits, and demand deposits, reflecting the impact of MB Financial. The increases were partially offset by lower deposits in foreign offices. Compared to the prior quarter, average core deposits increased 12%, primarily driven by higher demand deposits, interest checking deposits, and money market deposits. Average demand deposits represented 30% of total core deposits in the second quarter of 2019, up from 29% in the prior quarter.

Average Wholesale Funding
($ in millions)	For the Three Months Ended						% Change
	June		March		June
	2019		2019		2018		Seq		Yr/Yr
Average Wholesale Funding
Certificates - $100,000 and over		$5,780		$3,358		$2,155		72%		168%
Other deposits		40		726		198		(94%)		(80%)
Federal funds purchased		1,151		2,019		1,080		(43%)		7%
Other short-term borrowings		1,119		646		2,452		73%		(54%)
Long-term debt		15,543		15,438		14,579		1%		7%
Total average wholesale funding		$23,633		$22,187		$20,464		7%		15%

Compared to the year-ago quarter, average wholesale funding increased 15% driven by growth in jumbo CD balances and long-term debt, partially offset by a decrease in other short-term borrowings. Compared to the prior quarter, average wholesale funding increased 7% reflecting an increase in jumbo CD balances and other short-term borrowings, partially offset by a decrease in federal funds borrowings and other deposits.

8

Credit Quality Summary
($ in millions)	For the Three Months Ended
	June		March		December		September		June
	2019		2019		2018		2018		2018
Total nonaccrual portfolio loans and leases (NPLs)		$521		$450		$348		$403		$437
Repossessed property		8		11		10		8		7
OREO		31		37		37		37		36
Total nonperforming portfolio assets (NPAs)		$560		$498		$395		$448		$480
NPL ratio(h)		0.48%		0.41%		0.37%		0.43%		0.47%
NPA ratio(c)		0.51%		0.45%		0.41%		0.48%		0.52%
Total loans and leases 30-89 days past due (accrual)		383		322		297		270		217
Total loans and leases 90 days past due (accrual)		128		132		93		87		89
Allowance for loan and lease losses, beginning		$1,115		$1,103		$1,091		$1,077		$1,138
Total net losses charged-off		(78)		(77)		(83)		(72)		(94)
Provision for loan and lease losses		78		89		95		86		33
Allowance for loan and lease losses, ending		$1,115		$1,115		$1,103		$1,091		$1,077
Reserve for unfunded commitments, beginning		$133		$131		$129		$131		$151
Reserve for acquired commitments		7		1		-		-		-
Provision for (benefit from) the reserve for unfunded commitments		7		1		2		(2)		(20)
Reserve for unfunded commitments, ending		$147		$133		$131		$129		$131
Total allowance for credit losses		$1,262		$1,248		$1,234		$1,220		$1,208
Allowance for loan and lease losses ratios
As a percent of portfolio loans and leases		1.02%		1.02%		1.16%		1.17%		1.17%
As a percent of nonperforming portfolio loans and leases		214%		248%		317%		270%		247%
As a percent of nonperforming portfolio assets		199%		224%		279%		243%		224%
Total losses charged-off		$(119)		$(108)		$(116)		$(112)		$(118)
Total recoveries of losses previously charged-off		41		31		33		40		24
Total net losses charged-off		$(78)		$(77)		$(83)		$(72)		$(94)
Net charge-off ratio (NCO ratio)(b)		0.29%		0.32%		0.35%		0.30%		0.41%
Commercial NCO ratio		0.13%		0.11%		0.19%		0.19%		0.34%
Consumer NCO ratio		0.59%		0.68%		0.61%		0.50%		0.52%

Compared to the year-ago quarter, NPLs increased $84 million, or 19%, with the resulting NPL ratio of 0.48% increasing 1 bp. NPAs increased $80 million, or 17%, with the resulting NPA ratio of 0.51% decreasing 1 bp. Compared to the prior quarter, NPLs increased $71 million, or 16%, with the resulting NPL ratio increasing 7 bps. NPAs increased $62 million, or 12%, with the resulting NPA ratio increasing 6 bps.

The provision for loan and lease losses totaled $78 million in the current quarter compared to $33 million in the year-ago quarter and $89 million in the prior quarter. The resulting allowance for loan and lease losses ratio represented 1.02% of total portfolio loans and leases outstanding in the current quarter, compared with 1.17% in the year-ago quarter and 1.02% in the prior quarter. The allowance for loan and lease losses represented 214% of nonperforming portfolio loans and leases and 199% of nonperforming portfolio assets in the current quarter.

9

Net charge-offs totaled $78 million in the current quarter compared to $94 million in the year-ago quarter and $77 million in the prior quarter. The resulting NCO ratio of 0.29% in the current quarter decreased 12 bps compared to the year-ago quarter and decreased 3 bps compared to the prior quarter.

Capital and Liquidity Position
	For the Three Months Ended
	June		March		December		September		June
	2019		2019		2018		2018		2018
Capital Position
Average total Bancorp shareholders’ equity as a percent of average assets		12.02%		11.43%		10.95%		11.29%		11.28%
Tangible equity(a)		9.09%		9.03%		9.63%		9.97%		10.19%
Tangible common equity (excluding unrealized gains/losses)(a)		8.27%		8.21%		8.71%		9.02%		9.23%
Tangible common equity (including unrealized gains/losses)(a)		8.91%		8.44%		8.64%		8.53%		8.88%
Regulatory Capital and Liquidity Ratios(e)
CET1 capital(d)		9.58%		9.60%		10.24%		10.67%		10.91%
Tier I risk-based capital(d)		10.64%		10.67%		11.32%		11.78%		12.02%
Total risk-based capital(d)		13.55%		13.57%		14.48%		14.94%		15.21%
Tier I leverage		9.24%		10.32%		9.72%		10.10%		10.24%
Modified liquidity coverage ratio (LCR)		119%		113%		128%		119%		116%

Capital ratios remained strong during the quarter. The CET1 capital ratio was 9.58%, the tangible common equity to tangible assets ratio was 8.27% excluding unrealized gains/losses, and 8.91% including unrealized gains/losses. The Tier I risk-based capital ratio was 10.64%, the Total risk-based capital ratio was 13.55%, and the Tier I leverage ratio was 9.24%.

Fifth Third entered into or completed multiple share repurchases during the quarter. Below is a summary of those share repurchases.

● On April 29, 2019, Fifth Third initially settled a share repurchase agreement whereby Fifth Third would purchase $200 million of its outstanding stock in two $100 million tranches. The initial settlement reduced second quarter common shares outstanding by 6.0 million shares. On May 23, 2019, and May 24, 2019, Fifth Third settled both tranches from the forward contract. An additional 1.2 million shares were repurchased in connection with the completion of this agreement.

● On June 28, 2019, Fifth Third settled the forward contract related to the March 2019 $913 million share repurchase agreement. An additional 2.0 million shares were repurchased in connection with the completion of this agreement.

Based on the transactions noted above, common shares outstanding decreased by approximately 9.2 million shares in the second quarter of 2019 from the first quarter.

On June 27, 2019, Fifth Third announced its capital distribution projections for July 1, 2019 through June 30, 2020 reflecting the ability to distribute approximately $2 billion in capital, which include common share repurchases as well as increased common stock dividends. Capital distribution projections include repurchases related to common share issuances under employee benefit plans (approximately $75 million) and excludes any potential additional repurchases of common shares related to after-tax gains from the previous sale of Worldpay, Inc. common stock.

10

Tax Rate

The effective tax rate was 21.5% compared with 19.6% in the year-ago quarter and 22.2% in the prior quarter.

Other

In April 2019, Fifth Third exchanged its remaining Class B units of GreenSky Holdings, LLC for Class A common stock of GreenSky, Inc., and subsequently sold all of the stock. Fifth Third recognized a minimal pre-tax gain as a result of this transaction.

On May 30, 2019, Fifth Third filed an application with the Office of the Comptroller of the Currency (“OCC”) to convert from an Ohio state-chartered bank to a national bank.

Conference Call

Fifth Third will host a conference call to discuss these financial results at 9:00 a.m. (Eastern Time) today. This conference call will be webcast live and may be accessed through the Fifth Third Investor Relations website at www.53.com (click on “About Us” then “Investor Relations”).

Those unable to listen to the live webcast may access a webcast replay through the Fifth Third Investor Relations website at the same web address. Additionally, a telephone replay of the conference call will be available after the conference call until approximately August 6, 2019 by dialing 800-585-8367 for domestic access or 404-537-3406 for international access (passcode 2784479#).

Corporate Profile

Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio. As of June 30, 2019, the Company had $169 billion in assets and operates 1,207 full-service Banking Centers, and 2,551 Fifth Third branded ATMs in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Georgia and North Carolina. In total, Fifth Third provides its customers with access to approximately 53,000 fee-free ATMs across the United States. Fifth Third operates four main businesses: Commercial Banking, Branch Banking, Consumer Lending, and Wealth & Asset Management. Fifth Third is among the largest money managers in the Midwest and, as of June 30, 2019, had $399 billion in assets under care, of which it managed $46 billion for individuals, corporations and not-for-profit organizations through its Trust and Registered Investment Advisory businesses. Investor information and press releases can be viewed at www.53.com. Fifth Third’s common stock is traded on the NASDAQ® Global Select Market under the symbol “FITB.”

Earnings Release End Notes

(a) Non-GAAP measure; see discussion of non-GAAP and Reg. G reconciliation beginning on page 26.

(b) Net losses charged-off as a percent of average portfolio loans and leases.

(c) Nonperforming portfolio assets as a percent of portfolio loans and leases and OREO.

(d) Under the U.S. banking agencies’ Basel III Final Rule, assets and credit equivalent amounts of off-balance sheet exposures are calculated according to the standardized approach for risk-weighted assets. The resulting values are added together resulting in the Bancorp’s total risk-weighted assets.

(e) Current period regulatory capital and liquidity ratios are estimated.

(f) Assumes a 23% tax rate, except for merger-related expenses which were impacted by certain non-deductible items.

(g) Includes commercial customer Eurodollar sweep balances for which the Bank pays rates comparable to other commercial deposit accounts.

(h) Nonperforming portfolio loans and leases as a percent of portfolio loans and leases and OREO.

11

FORWARD-LOOKING STATEMENTS

This release contains statements that we believe are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Rule 175 promulgated thereunder, and Section 21E of the Securities Exchange Act of 1934, as amended, and Rule 3b-6 promulgated thereunder. These statements relate to our financial condition, results of operations, plans, objectives, future performance or business. They usually can be identified by the use of forward-looking language such as “will likely result,” “may,” “are expected to,” “is anticipated,” “potential,” “estimate,” “forecast,” “projected,” “intends to,” or may include other similar words or phrases such as “believes,” “plans,” “trend,” “objective,” “continue,” “remain,” or similar expressions, or future or conditional verbs such as “will,” “would,” “should,” “could,” “might,” “can,” or similar verbs. You should not place undue reliance on these statements, as they are subject to risks and uncertainties, including but not limited to the risk factors set forth in our most recent Annual Report on Form 10-K as updated by our Quarterly Reports on Form 10-Q. When considering these forward-looking statements, you should keep in mind these risks and uncertainties, as well as any cautionary statements we may make. Moreover, you should treat these statements as speaking only as of the date they are made and based only on information then actually known to us. We undertake no obligation to release revisions to these forward-looking statements or reflect events or circumstances after the date of this document.

There are a number of important factors that could cause future results to differ materially from historical performance and these forward-looking statements. Factors that might cause such a difference include, but are not limited to: (1) deteriorating credit quality; (2) loan concentration by location or industry of borrowers or collateral; (3) problems encountered by other financial institutions; (4) inadequate sources of funding or liquidity; (5) unfavorable actions of rating agencies; (6) inability to maintain or grow deposits; (7) limitations on the ability to receive dividends from subsidiaries; (8) cyber-security risks; (9) Fifth Third’s ability to secure confidential information and deliver products and services through the use of computer systems and telecommunications networks; (10) failures by third-party service providers; (11) inability to manage strategic initiatives and/or organizational changes; (12) inability to implement technology system enhancements; (13) failure of internal controls and other risk management systems; (14) losses related to fraud, theft or violence; (15) inability to attract and retain skilled personnel; (16) adverse impacts of government regulation; (17) governmental or regulatory changes or other actions; (18) failures to meet applicable capital requirements; (19) regulatory objections to Fifth Third’s capital plan; (20) regulation of Fifth Third’s derivatives activities; (21) deposit insurance premiums; (22) assessments for the orderly liquidation fund; (23) replacement of LIBOR; (24) weakness in the national or local economies; (25) global political and economic uncertainty or negative actions; (26) changes in interest rates; (27) changes and trends in capital markets; (28) fluctuation of Fifth Third’s stock price; (29) volatility in mortgage banking revenue; (30) litigation, investigations, and enforcement proceedings by governmental authorities; (31) breaches of contractual covenants, representations and warranties; (32) competition and changes in the financial services industry; (33) changing retail distribution strategies, customer preferences and behavior; (34) risks relating to the merger with MB Financial, Inc. and Fifth Third’s ability to realize anticipated benefits of the merger; (35) difficulties in identifying, acquiring or integrating suitable strategic partnerships, investments or acquisitions; (36) potential dilution from future acquisitions; (37) loss of income and/or difficulties encountered in the sale and separation of businesses, investments or other assets; (38) results of investments or acquired entities; (39) changes in accounting standards or interpretation or declines in the value of Fifth Third’s goodwill or other intangible assets; (40) inaccuracies or other failures from the use of models; (41) effects of critical accounting policies and judgments or the use of inaccurate estimates; (42) weather-related events or other natural disasters; and (43) the impact of reputational risk created by these or other developments on such matters as business generation and retention, funding and liquidity.

You should refer to our periodic and current reports filed with the Securities and Exchange Commission, or “SEC,” for further information on other factors, which could cause actual results to be significantly different from those expressed or implied by these forward-looking statements.

# # #

12

Quarterly Financial Review for June 30, 2019

Table of Contents

Financial Highlights	14-15
Consolidated Statements of Income	16
Consolidated Balance Sheets	17-18
Consolidated Statements of Changes in Equity	19
Average Balance Sheet and Yield/Rate Analysis	20-21
Summary of Loans and Leases	22
Regulatory Capital	23
Summary of Credit Loss Experience	24
Asset Quality	25
Regulation G Non-GAAP Reconciliation	26-28
Segment Presentation	29

13

Fifth Third Bancorp and Subsidiaries
Financial Highlights							% / bps								% / bps
$ in millions, except per share data	For the Three Months Ended						Change				Year to Date				Change
(unaudited)	June		March		June						June		June
	2019		2019		2018		Seq		Yr/Yr		2019		2018		Yr/Yr
Income Statement Data
Net interest income		$1,245		$1,082		$1,020		15%		22%		$2,327		$2,016	15%
Net interest income (FTE)(a)		1,250		1,086		1,024		15%		22%		2,336		2,023	15%
Noninterest income		660		1,101		743		(40%)		(11%)		1,761		1,652	7%
Total revenue (FTE)		1,910		2,187		1,767		(13%)		8%		4,097		3,675	11%
Provision for credit losses		85		90		14		(6%)		507%		175		27	548%
Noninterest expense		1,243		1,097		1,001		13%		24%		2,341		2,011	16%
Net income attributable to Bancorp		453		775		602		(42%)		(25%)		1,228		1,303	(6%)
Net income available to common shareholders		427		760		579		(44%)		(26%)		1,187		1,265	(6%)
Earnings Per Share Data
Net income allocated to common shareholders		$423		$752		$573		(44%)		(26%)		$1,176		$1,250	(6%)
Average common shares outstanding (in thousands):
Basic		738,051		661,057		683,345		12%		8%		699,767		686,565	2%
Diluted		747,750		670,685		696,210		11%		7%		709,430		700,134	1%
Earnings per share, basic		$0.57		$1.14		$0.84		(50%)		(32%)		$1.68		$1.82	(8%)
Earnings per share, diluted		0.57		1.12		0.82		(49%)		(30%)		1.66		1.79	(7%)
Common Share Data
Cash dividends per common share		$0.24		$0.22		$0.18		9%		33%		$0.46		$0.34	35%
Book value per share		26.17		24.77		21.75		6%		20%		26.17		21.75	20%
Market price per share		27.90		25.22		28.70		11%		(3%)		27.90		28.70	(3%)
Common shares outstanding (in thousands)		731,474		739,406		678,162		(1%)		8%		731,474		678,162	8%
Market capitalization		$20,408		$18,648		$19,463		9%		5%		$20,408		$19,463	5%
Financial Ratios
Return on average assets		1.08%		2.11%		1.71%		(103)		(63)		1.56%		1.86%	(30)
Return on average common equity		9.1%		19.6%		15.9%		(1,050)		(680)		13.9%		17.3%	(340)
Return on average tangible common equity(a)		12.3%		23.9%		19.2%		(1,160)		(690)		17.8%		20.9%	(310)
Noninterest income as a percent of total revenue(a)		35%		50%		42%		(1,500)		(700)		43%		45%	(200)
Dividend payout		42.1%		19.3%		21.4%		2,280		2,070		27.4%		18.7%	870
Average total Bancorp shareholders’ equity as a percent of average assets		12.02%		11.43%		11.28%		59		74		11.74%		11.34%	40
Tangible common equity(a)		8.27%		8.21%		9.23%		6		(96)		8.27%		9.23%	(96)
Net interest margin (FTE)(a)		3.37%		3.28%		3.21%		9		16		3.33%		3.19%	14
Efficiency (FTE)(a)		65.1%		50.2%		56.7%		1,490		840		57.1%		54.7%	240
Effective tax rate		21.5%		22.2%		19.6%		(70)		190		21.9%		20.1%	180
Credit Quality
Net losses charged-off		$78		$77		$94		1%		(17%)		$156		$175	(11%)
Net losses charged-off as a percent of average portfolio loans and leases		0.29%		0.32%		0.41%		(3)		(12)		0.30%		0.38%	(8)
ALLL as a percent of portfolio loans and leases		1.02%		1.02%		1.17%		-		(15)		1.02%		1.17%	(15)
Allowance for credit losses as a percent of portfolio loans and leases(g)		1.15%		1.14%		1.31%		1		(16)		1.15%		1.31%	(16)
Nonperforming portfolio assets as a percent of portfolio loans and leases and OREO		0.51%		0.45%		0.52%		6		(1)		0.51%		0.52%	(1)
Average Balances
Loans and leases, including held for sale		$110,993		$98,362		$93,232		13%		19%		$104,712		$93,051	13%
Securities and other short-term investments		37,797		36,101		34,935		5%		8%		36,953		34,806	6%
Assets		167,578		148,968		141,420		12%		18%		158,324		141,433	12%
Transaction deposits(b)		112,847		100,647		97,574		12%		16%		106,780		97,298	10%
Core deposits(c)		118,525		105,507		101,592		12%		17%		112,051		101,235	11%
Wholesale funding(d)		23,633		22,187		20,464		7%		15%		22,915		20,511	12%
Bancorp shareholders’ equity		20,135		17,025		15,947		18%		26%		18,588		16,044	16%
Regulatory Capital and Liquidity Ratios(e)
CET1 capital(f)		9.58%		9.60%		10.91%		(2)		(133)		9.58%		10.91%	(133)
Tier I risk-based capital(f)		10.64%		10.67%		12.02%		(3)		(138)		10.64%		12.02%	(138)
Total risk-based capital(f)		13.55%		13.57%		15.21%		(2)		(166)		13.55%		15.21%	(166)
Tier I leverage		9.24%		10.32%		10.24%		(108)		(100)		9.24%		10.24%	(100)
Modified liquidity coverage ratio (LCR)		119%		113%		116%		5%		3%		119%		116%	3%
Operations
Banking centers		1,207		1,207		1,158		-		4%		1,207		1,158	4%
ATMs		2,551		2,559		2,458		-		4%		2,551		2,458	4%
Full-time equivalent employees		19,758		20,115		18,163		(2%)		9%		19,758		18,163	9%

(a) Non-GAAP measure; see discussion of non-GAAP and Reg. G reconciliation beginning on page 26.

(b) Includes demand, interest checking, savings, money market and foreign office deposits of commercial customers.

(c) Includes transaction deposits plus other time deposits.

(d) Includes certificates $100,000 and over, other deposits, federal funds purchased, other short-term borrowings and long-term debt.

(e) Current period regulatory capital and liquidity ratios are estimates.

(f) Under the U.S. banking agencies’ Basel III Final Rule, assets and credit equivalent amounts of off-balance sheet exposures are calculated according to the standardized approach for risk-weighted assets. The resulting values are added together resulting in the Bancorp’s total risk-weighted assets.

(g) The allowance for credit losses is the sum of the ALLL and the reserve for unfunded commitments.

14

Fifth Third Bancorp and Subsidiaries
Financial Highlights
$ in millions, except per share data	For the Three Months Ended
(unaudited)	June		March		December		September		June
	2019		2019		2018		2018		2018
Income Statement Data
Net interest income		$1,245		$1,082		$1,081		$1,043		$1,020
Net interest income (FTE)(a)		1,250		1,086		1,085		1,047		1,024
Noninterest income		660		1,101		575		563		743
Total revenue (FTE)		1,910		2,187		1,660		1,610		1,767
Provision for credit losses		85		90		97		84		14
Noninterest expense		1,243		1,097		975		972		1,001
Net income attributable to Bancorp		453		775		455		436		602
Net income available to common shareholders		427		760		432		421		579
Earnings Per Share Data
Net income allocated to common shareholders		$423		$752		$427		$417		$573
Average common shares outstanding (in thousands):
Basic		738,051		661,057		653,062		667,624		683,345
Diluted		747,750		670,685		662,966		679,199		696,210
Earnings per share, basic		$0.57		$1.14		$0.65		$0.62		$0.84
Earnings per share, diluted		0.57		1.12		0.64		0.61		0.82
Common Share Data
Cash dividends per common share		$0.24		$0.22		$0.22		$0.18		$0.18
Book value per share		26.17		24.77		23.07		21.70		21.75
Market value per share		27.90		25.22		23.53		27.92		28.70
Common shares outstanding (in thousands)		731,474		739,406		646,631		661,373		678,162
Market capitalization		$20,408		$18,648		$15,215		$18,466		$19,463
Financial Ratios
Return on average assets		1.08%		2.11%		1.25%		1.22%		1.71%
Return on average common equity		9.1%		19.6%		11.8%		11.4%		15.9%
Return on average tangible common equity(a)		12.3%		23.9%		14.3%		13.8%		19.2%
Noninterest income as a percent of total revenue(a)		35%		50%		35%		35%		42%
Dividend payout		42.1%		19.3%		33.8%		29.0%		21.4%
Average total Bancorp shareholders’ equity as a percent of average assets		12.02%		11.43%		10.95%		11.29%		11.28%
Tangible common equity(a)		8.27%		8.21%		8.71%		9.02%		9.23%
Net interest margin (FTE)(a)		3.37%		3.28%		3.29%		3.23%		3.21%
Efficiency (FTE)(a)		65.1%		50.2%		58.7%		60.4%		56.7%
Effective tax rate		21.5%		22.2%		22.4%		20.7%		19.6%
Credit Quality
Net losses charged-off		$78		$77		$83		$72		$94
Net losses charged-off as a percent of average portfolio loans and leases		0.29%		0.32%		0.35%		0.30%		0.41%
ALLL as a percent of portfolio loans and leases		1.02%		1.02%		1.16%		1.17%		1.17%
Allowance for credit losses as a percent of portfolio loans and leases(g)		1.15%		1.14%		1.30%		1.31%		1.31%
Nonperforming portfolio assets as a percent of portfolio loans and leases and OREO		0.51%		0.45%		0.41%		0.48%		0.52%
Average Balances
Loans and leases, including held for sale		$110,993		$98,362		$95,398		$93,977		$93,232
Securities and other short-term investments		37,797		36,101		35,674		34,822		34,935
Assets		167,578		148,968		144,185		141,654		141,420
Transaction deposits(b)		112,847		100,647		99,721		97,315		97,574
Core deposits(c)		118,525		105,507		104,087		101,492		101,592
Wholesale funding(d)		23,633		22,187		20,660		20,613		20,464
Bancorp shareholders’ equity		20,135		17,025		15,794		15,994		15,947
Regulatory Capital and Liquidity Ratios(e)
CET1 capital(f)		9.58%		9.60%		10.24%		10.67%		10.91%
Tier I risk-based capital(f)		10.64%		10.67%		11.32%		11.78%		12.02%
Total risk-based capital(f)		13.55%		13.57%		14.48%		14.94%		15.21%
Tier I leverage		9.24%		10.32%		9.72%		10.10%		10.24%
Modified liquidity coverage ratio (LCR)		119%		113%		128%		119%		116%
Operations
Banking centers		1,207		1,207		1,121		1,152		1,158
ATMs		2,551		2,559		2,419		2,443		2,458
Full-time equivalent employees		19,758		20,115		17,437		17,512		18,163

(a) Non-GAAP measure; see discussion of non-GAAP and Reg. G reconciliation beginning on page 26.

(b) Includes demand, interest checking, savings, money market and foreign office deposits of commercial customers.

(c) Includes transaction deposits plus other time deposits.

(d) Includes certificates $100,000 and over, other deposits, federal funds purchased, other short-term borrowings and long-term debt.

(e) Current period regulatory capital and liquidity ratios are estimates.

(f) Under the U.S. banking agencies’ Basel III Final Rule, assets and credit equivalent amounts of off-balance sheet exposures are calculated according to the standardized approach for risk-weighted assets. The resulting values are added together resulting in the Bancorp’s total risk-weighted assets.

(g) The allowance for credit losses is the sum of the ALLL and the reserve for unfunded commitments.

15

Fifth Third Bancorp and Subsidiaries
Consolidated Statements of Income
$ in millions	For the Three Months Ended							% Change				Year to Date					% Change
(unaudited)	June		March		June							June		June
	2019		2019		2018			Seq		Yr/Yr		2019		2018			Yr/Yr
Interest Income
Interest and fees on loans and leases		$1,336		$1,143		$996			17%		34%		$2,479		$1,933		28%
Interest on securities		290		281		267			3%		9%		571		530		8%
Interest on other short-term investments		10		9		6			11%		67%		19		11		73%
Total interest income		1,636		1,433		1,269			14%		29%		3,069		2,474		24%
Interest Expense
Interest on deposits		243		205		119			19%		104%		449		215		109%
Interest on federal funds purchased		8		12		5			(33%)		60%		20		7		186%
Interest on other short-term borrowings		9		6		11			50%		(18%)		14		19		(26%)
Interest on long-term debt		131		128		114			2%		15%		259		217		19%
Total interest expense		391		351		249			11%		57%		742		458		62%
Net Interest Income		1,245		1,082		1,020			15%		22%		2,327		2,016		15%
Provision for credit losses		85		90		14			(6%)		507%		175		27		548%
Net Interest Income After Provision for Credit Losses		1,160		992		1,006			17%		15%		2,152		1,989		8%
Noninterest Income
Service charges on deposits		143		131		137			9%		4%		274		275		-
Corporate banking revenue		137		112		120			22%		14%		249		208		20%
Mortgage banking net revenue		63		56		53			13%		19%		119		109		9%
Wealth and asset management revenue		122		112		108			9%		13%		234		221		6%
Card and processing revenue		92		79		84			16%		10%		171		163		5%
Other noninterest income		93		592		250			(84%)		(63%)		684		708		(3%)
Securities gains (losses), net		8		16		(5	)		(50%)		NM		25		(15	)	NM
Securities gains (losses), net - non-qualifying hedges on mortgage servicing rights		2		3		(4	)		(33%)		NM		5		(17	)	NM
Total noninterest income		660		1,101		743			(40%)		(11%)		1,761		1,652		7%
Noninterest Expense
Compensation and benefits		641		610		549			5%		17%		1,251		1,106		13%
Net occupancy expense		88		75		74			17%		19%		164		149		10%
Technology and communications		136		83		67			64%		103%		219		135		62%
Equipment expense		33		30		30			10%		10%		63		61		3%
Card and processing expense		34		31		30			10%		13%		64		60		7%
Other noninterest expense		311		268		251			16%		24%		580		500		16%
Total noninterest expense		1,243		1,097		1,001			13%		24%		2,341		2,011		16%
Income Before Income Taxes		577		996		748			(42%)		(23%)		1,572		1,630		(4%)
Applicable income tax expense		124		221		146			(44%)		(15%)		344		327		5%
Net Income		453		775		602			(42%)		(25%)		1,228		1,303		(6%)
Less: Net income attributable to noncontrolling interests		-		-		-			NM		NM		-		-		NM
Net Income Attributable to Bancorp		453		775		602			(42%)		(25%)		1,228		1,303		(6%)
Dividends on preferred stock		26		15		23			73%		13%		41		38		8%
Net Income Available to Common Shareholders		$427		$760		$579			(44%)		(26%)		$1,187		$1,265		(6%)

16

Fifth Third Bancorp and Subsidiaries
Consolidated Balance Sheets
$ in millions, except per share data	As of						% Change
(unaudited)	June		March		June
	2019		2019		2018		Seq	Yr/Yr
Assets
Cash and due from banks	$2,764		$2,749		$2,052		1%	35%
Other short-term investments	3,357		3,556		1,636		(6%)	105%
Available-for-sale debt and other securities(a)	35,753		35,048		31,961		2%	12%
Held-to-maturity securities(b)	21		21		19		-	11%
Trading debt securities	322		325		280		(1%)	15%
Equity securities	485		426		475		14%	2%
Loans and leases held for sale	1,205		692		783		74%	54%
Portfolio loans and leases:
Commercial and industrial loans	51,104		51,862		41,403		(1%)	23%
Commercial mortgage loans	10,717		10,686		6,625		-	62%
Commercial construction loans	5,264		5,231		4,687		1%	12%
Commercial leases	3,677		3,909		3,788		(6%)	(3%)
Residential mortgage loans	16,777		16,811		15,640		-	7%
Home equity	6,325		6,435		6,599		(2%)	(4%)
Indirect secured consumer loans	10,403		10,031		8,938		4%	16%
Credit card	2,436		2,388		2,270		2%	7%
Other consumer loans	2,580		2,489		1,982		4%	30%
Portfolio loans and leases	109,283		109,842		91,932		(1%)	19%
Allowance for loan and lease losses	(1,115	)	(1,115	)	(1,077	)	-	4%
Portfolio loans and leases, net	108,168		108,727		90,855		(1%)	19%
Bank premises and equipment	2,074		2,092		1,915		(1%)	8%
Operating lease equipment	894		908		606		(2%)	48%
Goodwill	4,284		4,321		2,462		(1%)	74%
Intangible assets	215		218		30		(1%)	617%
Servicing rights	1,039		1,141		959		(9%)	8%
Other assets	8,221		7,629		6,562		8%	25%
Total Assets	$168,802		$167,853		$140,595		1%	20%
Liabilities
Deposits:
Demand	$35,589		$35,963		$32,680		(1%)	9%
Interest checking	37,491		35,746		29,452		5%	27%
Savings	14,484		14,451		13,455		-	8%
Money market	26,465		25,942		21,593		2%	23%
Foreign office	175		154		336		14%	(48%)
Other time	5,759		5,539		4,058		4%	42%
Certificates $100,000 and over	5,429		5,569		2,557		(3%)	112%
Other deposits	-		300		-		NM	NM
Total deposits	125,392		123,664		104,131		1%	20%
Federal funds purchased	179		2,630		597		(93%)	(70%)
Other short-term borrowings	957		1,329		1,763		(28%)	(46%)
Accrued taxes, interest and expenses	2,397		2,242		1,258		7%	91%
Other liabilities	3,422		2,661		2,425		29%	41%
Long-term debt	15,784		15,483		14,321		2%	10%
Total Liabilities	148,131		148,009		124,495		-	19%
Equity
Common stock(c)	2,051		2,051		2,051		-	-
Preferred stock	1,331		1,331		1,331		-	-
Capital surplus	3,572		3,444		2,833		4%	26%
Retained earnings	17,431		17,184		15,991		1%	9%
Accumulated other comprehensive income (loss)	1,178		409		(552	)	188%	(313%)
Treasury stock	(5,089	)	(4,772	)	(5,574	)	7%	(9%)
Total Bancorp shareholders’ equity	20,474		19,647		16,080		4%	27%
Noncontrolling interests	197		197		20		-	885%
Total Equity	20,671		19,844		16,100		4%	28%
Total Liabilities and Equity	$168,802		$167,853		$140,595		1%	20%
(a)    Amortized cost	$34,731		$34,784		$32,589		-	7%
(b)    Market values	21		21		19		-	11%
(c)    Common shares, stated value $2.22 per share (in thousands):
Authorized	2,000,000		2,000,000		2,000,000		-	-
Outstanding, excluding treasury	731,474		739,406		678,162		(1%)	8%
Treasury	192,419		184,486		245,731		4%	(22%)

17

Fifth Third Bancorp and Subsidiaries
Consolidated Balance Sheets
$ in millions, except per share data	As of
(unaudited)	June		March		December		September		June
	2019		2019		2018		2018		2018
Assets
Cash and due from banks	$2,764		$2,749		$2,681		$2,100		$2,052
Other short-term investments	3,357		3,556		1,825		1,429		1,636
Available-for-sale debt and other securities(a)	35,753		35,048		32,830		31,808		31,961
Held-to-maturity securities(b)	21		21		18		18		19
Trading debt securities	322		325		287		269		280
Equity securities	485		426		452		500		475
Loans and leases held for sale	1,205		692		607		663		783
Portfolio loans and leases:
Commercial and industrial loans	51,104		51,862		44,340		42,631		41,403
Commercial mortgage loans	10,717		10,686		6,974		6,695		6,625
Commercial construction loans	5,264		5,231		4,657		4,892		4,687
Commercial leases	3,677		3,909		3,600		3,697		3,788
Residential mortgage loans	16,777		16,811		15,504		15,585		15,640
Home equity	6,325		6,435		6,402		6,485		6,599
Indirect secured consumer loans	10,403		10,031		8,976		9,002		8,938
Credit card	2,436		2,388		2,470		2,325		2,270
Other consumer loans	2,580		2,489		2,342		2,131		1,982
Portfolio loans and leases	109,283		109,842		95,265		93,443		91,932
Allowance for loan and lease losses	(1,115	)	(1,115	)	(1,103	)	(1,091	)	(1,077)
Portfolio loans and leases, net	108,168		108,727		94,162		92,352		90,855
Bank premises and equipment	2,074		2,092		1,861		1,896		1,915
Operating lease equipment	894		908		518		546		606
Goodwill	4,284		4,321		2,478		2,462		2,462
Intangible assets	215		218		40		28		30
Servicing rights	1,039		1,141		938		1,010		959
Other assets	8,221		7,629		7,372		6,509		6,562
Total Assets	$168,802		$167,853		$146,069		$141,590		$140,595
Liabilities
Deposits:
Demand	$35,589		$35,963		$32,116		$31,803		$32,680
Interest checking	37,491		35,746		34,058		30,288		29,452
Savings	14,484		14,451		12,907		13,027		13,455
Money market	26,465		25,942		22,597		21,977		21,593
Foreign office	175		154		240		298		336
Other time	5,759		5,539		4,490		4,249		4,058
Certificates $100,000 and over	5,429		5,569		2,427		2,700		2,557
Other deposits	-		300		-		-		-
Total deposits	125,392		123,664		108,835		104,342		104,131
Federal funds purchased	179		2,630		1,925		2,316		597
Other short-term borrowings	957		1,329		573		1,114		1,763
Accrued taxes, interest and expenses	2,397		2,242		1,562		1,209		1,258
Other liabilities	3,422		2,661		2,498		2,448		2,425
Long-term debt	15,784		15,483		14,426		14,460		14,321
Total Liabilities	148,131		148,009		129,819		125,889		124,495
Equity
Common stock(c)	2,051		2,051		2,051		2,051		2,051
Preferred stock	1,331		1,331		1,331		1,331		1,331
Capital surplus	3,572		3,444		2,873		2,856		2,833
Retained earnings	17,431		17,184		16,578		16,291		15,991
Accumulated other comprehensive income (loss)	1,178		409		(112	)	(775	)	(552)
Treasury stock	(5,089	)	(4,772	)	(6,471	)	(6,073	)	(5,574)
Total Bancorp shareholders’ equity	20,474		19,647		16,250		15,681		16,080
Noncontrolling interests	197		197		-		20		20
Total Equity	20,671		19,844		16,250		15,701		16,100
Total Liabilities and Equity	$168,802		$167,853		$146,069		$141,590		$140,595
(a)    Amortized cost	$34,731		$34,784		$33,128		$32,707		$32,589
(b)    Market values	21		21		18		18		19
(c)    Common shares, stated value $2.22 per share (in thousands):
Authorized	2,000,000		2,000,000		2,000,000		2,000,000		2,000,000
Outstanding, excluding treasury	731,474		739,406		646,631		661,373		678,162
Treasury	192,419		184,486		277,262		262,520		245,731

18

Fifth Third Bancorp and Subsidiaries
Consolidated Statements of Changes in Equity
$ in millions	For the Three Months Ended				Year to Date
(unaudited)	June		June		June		June
	2019		2018		2019		2018
Total Equity, Beginning		$19,844		$16,036		$16,250		$16,220
Net income attributable to Bancorp		453		602		1,228		1,303
Other comprehensive income, net of tax:
Change in unrealized gains (losses):
Available-for-sale securities		577		(167)		1,008		(620)
Qualifying cash flow hedges		191		3		280		(5)
Change in accumulated other comprehensive income related to employee benefit plans		1		1		2		2
Comprehensive income		1,222		439		2,518		680
Cash dividends declared:
Common stock		(178)		(124)		(343)		(235)
Preferred stock		(26)		(23)		(41)		(38)
Impact of stock transactions under stock compensation plans, net		10		7		35		22
Shares acquired for treasury		(200)		(235)		(1,113)		(553)
Impact of acquisition		-		-		3,159		-
Noncontrolling interest		-		-		197		-
Other		(1)		-		(1)		-
Impact of cumulative effect of change in account principles		-		-		10		4
Total Equity, Ending		$20,671		$16,100		$20,671		$16,100

19

Fifth Third Bancorp and Subsidiaries
Average Balance Sheet and Yield/Rate Analysis
$ in millions	For the Three Months Ended						% Change				Year to Date					% Change
(unaudited)	June		March		June						June			June
	2019		2019		2018		Seq		Yr/Yr		2019			2018		Yr/Yr
Assets
Interest-earning assets:
Commercial and industrial loans		$52,187		$46,070		$42,327		13%		23%		$49,145			$42,064		17%
Commercial mortgage loans		10,635		7,417		6,521		43%		63%		9,035			6,555		38%
Commercial construction loans		5,248		4,838		4,743		8%		11%		5,044			4,707		7%
Commercial leases		3,811		3,555		3,847		7%		(1%)		3,684			3,903		(6%)
Residential mortgage loans		17,589		16,150		16,213		9%		8%		16,873			16,150		4%
Home equity		6,376		6,356		6,672		-		(4%)		6,366			6,780		(6%)
Indirect secured consumer loans		10,190		9,176		8,968		11%		14%		9,686			9,016		7%
Credit card		2,408		2,396		2,221		1%		8%		2,402			2,223		8%
Other consumer loans		2,549		2,404		1,720		6%		48%		2,477			1,653		50%
Taxable securities		35,467		34,320		33,380		3%		6%		34,896			33,257		5%
Tax exempt securities		40		28		81		43%		(51%)		34			77		(56%)
Other short-term investments		2,290		1,753		1,474		31%		55%		2,023			1,472		37%
Total interest-earning assets		148,790		134,463		128,167		11%		16%		141,665			127,857		11%
Cash and due from banks		2,931		2,217		2,179		32%		35%		2,576			2,177		18%
Other assets		16,972		13,391		12,211		27%		39%		15,192			12,565		21%
Allowance for loan and lease losses		(1,115)		(1,103)		(1,137)		1%		(2%)		(1,109)			(1,166)		(5%)
Total Assets		$167,578		$148,968		$141,420		12%		18%		$158,324			$141,433		12%
Liabilities
Interest-bearing liabilities:
Interest checking deposits		$36,514		$33,697		$28,715		8%		27%		$35,113			$28,560		23%
Savings deposits		14,418		13,052		13,618		10%		6%		13,739			13,582		1%
Money market deposits		25,934		23,133		22,036		12%		18%		24,541			21,397		15%
Foreign office deposits		163		208		371		(22%)		(56%)		185			432		(57%)
Other time deposits		5,678		4,860		4,018		17%		41%		5,271			3,937		34%
Total interest-bearing core deposits		82,707		74,950		68,758		10%		20%		78,849			67,908		16%
Certificates $100,000 and over		5,780		3,358		2,155		72%		168%		4,576			2,220		106%
Other deposits		40		726		198		(94%)		(80%)		381			288		32%
Federal funds purchased		1,151		2,019		1,080		(43%)		7%		1,582			887		78%
Other short-term borrowings		1,119		646		2,452		73%		(54%)		884			2,438		(64%)
Long-term debt		15,543		15,438		14,579		1%		7%		15,492			14,678		6%
Total interest-bearing liabilities		106,340		97,137		89,222		9%		19%		101,764			88,419		15%
Demand deposits		35,818		30,557		32,834		17%		9%		33,202			33,327		-
Other liabilities		5,088		4,227		3,397		20%		50%		4,659			3,622		29%
Total Liabilities		147,246		131,921		125,453		12%		17%		139,625			125,368		11%
Total Equity		20,332		17,047		15,967		19%		27%		18,699			16,065		16%
Total Liabilities and Equity		$167,578		$148,968		$141,420		12%		18%		$158,324			$141,433		12%
	For the Three Months Ended						bps Change				Year to Date					bps Change
	June		March		June						June			June
Yield/Rate Analysis		2019		2019		2018		Seq		Yr/Yr		2019			2018		Yr/Yr
Interest-earning assets:
Commercial and industrial loans(a)		4.79%		4.67%		4.26%		12		53		4.73%			4.11%		62
Commercial mortgage loans(a)		5.11%		4.80%		4.43%		31		68		4.98%			4.32%		66
Commercial construction loans(a)		5.71%		5.55%		4.94%		16		77		5.63%			4.77%		86
Commercial leases(a)		3.51%		3.08%		2.82%		43		69		3.30%			2.80%		50
Residential mortgage loans		3.70%		3.71%		3.56%		(1)		14		3.71%			3.58%		13
Home equity		5.30%		5.34%		4.85%		(4)		45		5.32%			4.74%		58
Indirect secured consumer loans		4.11%		3.79%		3.26%		32		85		3.96%			3.19%		77
Credit card		12.38%		12.63%		11.96%		(25)		42		12.50%			12.16%		34
Other consumer loans		7.58%		7.49%		6.75%		9		83		7.54%			6.67%		87
Total loans and leases		4.84%		4.73%		4.30%		11		54		4.79%			4.21%		58
Taxable securities		3.28%		3.32%		3.20%		(4)		8		3.30%			3.21%		9
Tax exempt securities(a)		3.50%		4.80%		4.03%		(130)		(53)		4.03%			2.79%		124
Other short-term investments		1.80%		1.97%		1.62%		(17)		18		1.87%			1.50%		37
Total interest-earning assets		4.42%		4.33%		3.98%		9		44		4.38%			3.91%		47
Interest-bearing liabilities:
Interest checking deposits		1.17%		1.18%		0.76%		(1)		41		1.17%			0.70%		47
Savings deposits		0.17%		0.15%		0.10%		2		7		0.16%			0.08%		8
Money market deposits		1.14%		1.03%		0.71%		11		43		1.09%			0.62%		47
Foreign office deposits		0.53%		0.60%		0.45%		(7)		8		0.57%			0.27%		30
Other time deposits		1.84%		1.80%		1.34%		4		50		1.82%			1.30%		52
Total interest-bearing core deposits		1.03%		0.99%		0.65%		4		38		1.01%			0.58%		43
Certificates $100,000 and over		2.10%		2.13%		1.35%		(3)		75		2.11%			1.42%		69
Other deposits		2.92%		2.43%		1.80%		49		112		2.46%			1.57%		89
Federal funds purchased		2.61%		2.43%		1.76%		18		85		2.50%			1.63%		87
Other short-term borrowings		3.08%		3.62%		1.84%		(54)		124		3.28%			1.60%		168
Long-term debt		3.39%		3.35%		3.11%		4		28		3.37%			2.98%		39
Total interest-bearing liabilities		1.47%		1.46%		1.12%		1		35		1.47%			1.05%		42
(a)  Presented on an FTE basis.

20

Fifth Third Bancorp and Subsidiaries
Average Balance Sheet and Yield/Rate Analysis
$ in millions	For the Three Months Ended
(unaudited)	June	March	December	September	June
	2019	2019	2018	2018	2018
Assets
Interest-earning assets:
Commercial and industrial loans	$52,187	$46,070	$43,911	$42,614	$42,327
Commercial mortgage loans	10,635	7,417	6,868	6,664	6,521
Commercial construction loans	5,248	4,838	4,885	4,870	4,743
Commercial leases	3,811	3,555	3,633	3,746	3,847
Residential mortgage loans	17,589	16,150	16,074	16,226	16,213
Home equity	6,376	6,356	6,438	6,529	6,672
Indirect secured consumer loans	10,190	9,176	8,970	8,969	8,968
Credit card	2,408	2,396	2,373	2,299	2,221
Other consumer loans	2,549	2,404	2,246	2,060	1,720
Taxable securities	35,467	34,320	34,126	33,301	33,380
Tax exempt securities	40	28	40	69	81
Other short-term investments	2,290	1,753	1,508	1,452	1,474
Total interest-earning assets	148,790	134,463	131,072	128,799	128,167
Cash and due from banks	2,931	2,217	2,253	2,193	2,179
Other assets	16,972	13,391	11,952	11,739	12,211
Allowance for loan and lease losses	(1,115)	(1,103)	(1,092)	(1,077)	(1,137)
Total Assets	$167,578	$148,968	$144,185	$141,654	$141,420
Liabilities
Interest-bearing liabilities:
Interest checking deposits	$36,514	$33,697	$32,428	$29,681	$28,715
Savings deposits	14,418	13,052	12,933	13,231	13,618
Money market deposits	25,934	23,133	22,517	21,753	22,036
Foreign office deposits	163	208	272	317	371
Other time deposits	5,678	4,860	4,366	4,177	4,018
Total interest-bearing core deposits	82,707	74,950	72,516	69,159	68,758
Certificates $100,000 and over	5,780	3,358	2,662	2,596	2,155
Other deposits	40	726	746	578	198
Federal funds purchased	1,151	2,019	2,254	1,987	1,080
Other short-term borrowings	1,119	646	578	1,018	2,452
Long-term debt	15,543	15,438	14,420	14,434	14,579
Total interest-bearing liabilities	106,340	97,137	93,176	89,772	89,222
Demand deposits	35,818	30,557	31,571	32,333	32,834
Other liabilities	5,088	4,227	3,631	3,535	3,397
Total Liabilities	147,246	131,921	128,378	125,640	125,453
Total Equity	20,332	17,047	15,807	16,014	15,967
Total Liabilities and Equity	$167,578	$148,968	$144,185	$141,654	$141,420
Yield/Rate Analysis
Interest-earning assets:
Commercial and industrial loans(a)	4.79%	4.67%	4.56%	4.32%	4.26%
Commercial mortgage loans(a)	5.11%	4.80%	4.67%	4.57%	4.43%
Commercial construction loans(a)	5.71%	5.55%	5.33%	5.14%	4.94%
Commercial leases(a)	3.51%	3.08%	2.89%	2.85%	2.82%
Residential mortgage loans	3.70%	3.71%	3.63%	3.58%	3.56%
Home equity	5.30%	5.34%	5.21%	5.03%	4.85%
Indirect secured consumer loans	4.11%	3.79%	3.64%	3.47%	3.26%
Credit card	12.38%	12.63%	12.50%	12.17%	11.96%
Other consumer loans	7.58%	7.49%	7.28%	6.98%	6.75%
Total loans and leases	4.84%	4.73%	4.61%	4.41%	4.30%
Taxable securities	3.28%	3.32%	3.27%	3.20%	3.20%
Tax exempt securities(a)	3.50%	4.80%	3.86%	4.35%	4.03%
Other short-term investments	1.80%	1.97%	1.96%	1.74%	1.62%
Total interest-earning assets	4.42%	4.33%	4.23%	4.07%	3.98%
Interest-bearing liabilities:
Interest checking deposits	1.17%	1.18%	1.07%	0.88%	0.76%
Savings deposits	0.17%	0.15%	0.13%	0.11%	0.10%
Money market deposits	1.14%	1.03%	0.91%	0.80%	0.71%
Foreign office deposits	0.53%	0.60%	0.54%	0.33%	0.45%
Other time deposits	1.84%	1.80%	1.65%	1.48%	1.34%
Total interest-bearing core deposits	1.03%	0.99%	0.88%	0.74%	0.65%
Certificates $100,000 and over	2.10%	2.13%	1.97%	1.85%	1.35%
Other deposits	2.92%	2.43%	2.23%	1.95%	1.80%
Federal funds purchased	2.61%	2.43%	2.25%	1.96%	1.76%
Other short-term borrowings	3.08%	3.62%	3.01%	2.22%	1.84%
Long-term debt	3.39%	3.35%	3.18%	3.09%	3.11%
Total interest-bearing liabilities	1.47%	1.46%	1.33%	1.20%	1.12%
Ratios:
Net interest margin (FTE)(b)	3.37%	3.28%	3.29%	3.23%	3.21%
Net interest rate spread (FTE)(b)	2.95%	2.87%	2.90%	2.87%	2.86%
Interest-bearing liabilities to interest-earning assets	71.47%	72.24%	71.09%	69.70%	69.61%
(a)  Presented on an FTE basis.
(b)  Non-GAAP measure; see discussion of non-GAAP and Reg. G reconciliation beginning on page 26.

21

Fifth Third Bancorp and Subsidiaries
Summary of Loans and Leases
$ in millions	For the Three Months Ended
(unaudited)	June	March	December	September	June
	2019	2019	2018	2018	2018
Average Portfolio Loans and Leases
Commercial loans and leases:
Commercial and industrial loans	$52,078	$46,011	$43,829	$42,494	$42,292
Commercial mortgage loans	10,632	7,414	6,864	6,635	6,514
Commercial construction loans	5,248	4,838	4,885	4,870	4,743
Commercial leases	3,809	3,555	3,632	3,738	3,847
Total commercial loans and leases	71,767	61,818	59,210	57,737	57,396
Consumer loans:
Residential mortgage loans	16,804	15,624	15,520	15,598	15,581
Home equity	6,376	6,355	6,438	6,529	6,672
Indirect secured consumer loans	10,190	9,176	8,970	8,969	8,968
Credit card	2,408	2,396	2,373	2,299	2,221
Other consumer loans	2,550	2,404	2,246	2,060	1,719
Total consumer loans	38,328	35,955	35,547	35,455	35,161
Total average portfolio loans and leases	$110,095	$97,773	$94,757	$93,192	$92,557
Average loans and leases held for sale	$898	$589	$641	$785	$675
End of Period Portfolio Loans and Leases
Commercial loans and leases:
Commercial and industrial loans	$51,104	$51,862	$44,340	$42,631	$41,403
Commercial mortgage loans	10,717	10,686	6,974	6,695	6,625
Commercial construction loans	5,264	5,231	4,657	4,892	4,687
Commercial leases	3,677	3,909	3,600	3,697	3,788
Total commercial loans and leases	70,762	71,688	59,571	57,915	56,503
Consumer loans:
Residential mortgage loans	16,777	16,811	15,504	15,585	15,640
Home equity	6,325	6,435	6,402	6,485	6,599
Indirect secured consumer loans	10,403	10,031	8,976	9,002	8,938
Credit card	2,436	2,388	2,470	2,325	2,270
Other consumer loans	2,580	2,489	2,342	2,131	1,982
Total consumer loans	38,521	38,154	35,694	35,528	35,429
Total portfolio loans and leases	$109,283	$109,842	$95,265	$93,443	$91,932
Loans and leases held for sale	$1,205	$692	$607	$663	$783
Operating lease equipment	$894	$908	$518	$546	$606
Loans and leases serviced for others:(a)
Commercial and industrial loans	$977	$1,024	$514	$465	$421
Commercial mortgage loans	438	467	292	294	263
Commercial construction loans	323	261	130	108	82
Commercial leases	358	216	224	225	222
Residential mortgage loans	84,597	83,900	63,154	63,996	62,247
Other consumer loans	50	50	50	50	50
Total loans and leases serviced for others	86,743	85,918	64,364	65,138	63,285
Total loans and leases serviced	$198,125	$197,360	$160,754	$159,790	$156,606
(a)  Fifth Third sells certain loans and leases and obtains servicing responsibilities.

22

Fifth Third Bancorp and Subsidiaries
Regulatory Capital
$ in millions	As of
(unaudited)	June	March	December	September	June
	2019(a)	2019	2018	2018	2018
Regulatory capital:
CET1 capital	$13,532	$13,430	$12,534	$12,809	$12,986
Additional tier I capital	1,493	1,493	1,330	1,331	1,331
Tier I capital	15,025	14,923	13,864	14,140	14,317
Tier II capital	4,111	4,048	3,859	3,792	3,799
Total regulatory capital	$19,136	$18,971	$17,723	$17,932	$18,116
Risk-weighted assets(b)	$141,192	$139,844	$122,432	$120,002	$119,073
Ratios:
Average total Bancorp shareholders’ equity as a percent of average assets	12.02%	11.43%	10.95%	11.29%	11.28%
Regulatory Capital Ratios:
Fifth Third Bancorp
CET1 capital(b)	9.58%	9.60%	10.24%	10.67%	10.91%
Tier I risk-based capital(b)	10.64%	10.67%	11.32%	11.78%	12.02%
Total risk-based capital(b)	13.55%	13.57%	14.48%	14.94%	15.21%
Tier I leverage	9.24%	10.32%	9.72%	10.10%	10.24%
Fifth Third Bank
Tier I risk-based capital(b)	11.69%	12.22%	11.93%	12.27%	12.43%
Total risk-based capital(b)	13.25%	13.86%	13.57%	13.94%	14.10%
Tier I leverage	10.59%	10.49%	10.27%	10.56%	10.63%

(a) Current period regulatory capital data and ratios are estimated.

(b) Under the U.S. banking agencies’ Basel III Final Rule, assets and credit equivalent amounts of off-balance sheet exposures are calculated according to the standardized approach for risk-weighted assets. The resulting values are added together resulting in the Bancorp’s total risk-weighted assets.

23

Fifth Third Bancorp and Subsidiaries
Summary of Credit Loss Experience
$ in millions	For the Three Months Ended
(unaudited)	June			March			December			September			June
	2019			2019			2018			2018			2018
Average portfolio loans and leases:
Commercial and industrial loans		$52,078			$46,011			$43,829			$42,494			$42,292
Commercial mortgage loans		10,632			7,414			6,864			6,635			6,514
Commercial construction loans		5,248			4,838			4,885			4,870			4,743
Commercial leases		3,809			3,555			3,632			3,738			3,847
Residential mortgage loans		16,804			15,624			15,520			15,598			15,581
Home equity		6,376			6,355			6,438			6,529			6,672
Indirect secured consumer loans		10,190			9,176			8,970			8,969			8,968
Credit card		2,408			2,396			2,373			2,299			2,221
Other consumer loans		2,550			2,404			2,246			2,060			1,719
Total average portfolio loans and leases		$110,095			$97,773			$94,757			$93,192			$92,557
Losses charged-off:
Commercial and industrial loans		($30	)		($20	)		($32	)		($36	)		($51	)
Commercial mortgage loans		-			-			(1	)		-			(3	)
Commercial leases		(3	)		-			(1	)		-			-
Residential mortgage loans		(1	)		(2	)		(3	)		(3	)		(4	)
Home equity		(6	)		(6	)		(5	)		(6	)		(5	)
Indirect secured consumer loans		(15	)		(20	)		(19	)		(15	)		(13	)
Credit card		(40	)		(38	)		(34	)		(33	)		(29	)
Other consumer loans		(24	)		(22	)		(21	)		(19	)		(13	)
Total losses charged-off		($119	)		($108	)		($116	)		($112	)		($118	)
Recoveries of losses previously charged-off:
Commercial and industrial loans		$10			$2			$2			$8			$4
Commercial mortgage loans		-			1			3			1			1
Commercial leases		-			-			-			-			-
Residential mortgage loans		2			1			2			1			2
Home equity		3			3			3			3			3
Indirect secured consumer loans		8			7			6			6			5
Credit card		5			5			5			12			3
Other consumer loans		13			12			12			9			6
Total recoveries of losses previously charged-off		$41			$31			$33			$40			$24
Net losses charged-off:
Commercial and industrial loans		($20	)		($18	)		($30	)		($28	)		($47	)
Commercial mortgage loans		-			1			2			1			(2	)
Commercial leases		(3	)		-			(1	)		-			-
Residential mortgage loans		1			(1	)		(1	)		(2	)		(2	)
Home equity		(3	)		(3	)		(2	)		(3	)		(2	)
Indirect secured consumer loans		(7	)		(13	)		(13	)		(9	)		(8	)
Credit card		(35	)		(33	)		(29	)		(21	)		(26	)
Other consumer loans		(11	)		(10	)		(9	)		(10	)		(7	)
Total net losses charged-off		($78	)		($77	)		($83	)		($72	)		($94	)
Net losses charged-off as a percent of average portfolio loans and leases:
Commercial and industrial loans		0.15%			0.16%			0.27%			0.26%			0.44%
Commercial mortgage loans		0.00%			(0.05%	)		(0.15%	)		(0.03%	)		0.11%
Commercial leases		0.32%			0.02%			0.12%			0.00%			0.00%
Residential mortgage loans		(0.02%	)		0.02%			0.02%			0.04%			0.05%
Home equity		0.18%			0.20%			0.15%			0.16%			0.12%
Indirect secured consumer loans		0.33%			0.57%			0.54%			0.41%			0.33%
Credit card		5.75%			5.60%			4.84%			3.53%			4.73%
Other consumer loans		1.84%			1.76%			1.83%			1.94%			1.85%
Total net losses charged-off as a percent of average portfolio loans and leases		0.29%			0.32%			0.35%			0.30%			0.41%

24

Fifth Third Bancorp and Subsidiaries
Asset Quality
$ in millions	For the Three Months Ended
(unaudited)	June		March		December		September		June
	2019		2019		2018		2018		2018
Allowance for Credit Losses
Allowance for loan and lease losses, beginning	$1,115		$1,103		$1,091		$1,077		$1,138
Total net losses charged-off	(78	)	(77	)	(83	)	(72	)	(94	)
Provision for loan and lease losses	78		89		95		86		33
Allowance for loan and lease losses, ending	$1,115		$1,115		$1,103		$1,091		$1,077
Reserve for unfunded commitments, beginning	$133		$131		$129		$131		$151
Reserve for acquired commitments	7		1		-		-		-
Provision for (benefit from) the reserve for unfunded commitments	7		1		2		(2	)	(20	)
Reserve for unfunded commitments, ending	$147		$133		$131		$129		$131
Components of allowance for credit losses:
Allowance for loan and lease losses	$1,115		$1,115		$1,103		$1,091		$1,077
Reserve for unfunded commitments	147		133		131		129		131
Total allowance for credit losses	$1,262		$1,248		$1,234		$1,220		$1,208
	As of
	June		March		December		September		June
	2019		2019		2018		2018		2018
Nonperforming Assets and Delinquent Loans
Nonaccrual portfolio loans and leases:
Commercial and industrial loans	$135		$112		$54		$69		$99
Commercial mortgage loans	20		24		9		7		8
Commercial leases	31		18		18		22		25
Residential mortgage loans	11		15		11		11		13
Home equity	61		62		55		58		54
Indirect secured consumer loans	1		2		-		-		3
Other consumer loans	2		2		1		1		1
Total nonaccrual portfolio loans and leases (excludes restructured loans)	261		235		148		168		203
Nonaccrual restructured portfolio commercial loans and leases	204		159		147		180		173
Nonaccrual restructured portfolio consumer loans and leases	56		56		53		55		61
Total nonaccrual portfolio loans and leases	521		450		348		403		437
Repossessed property	8		11		10		8		7
OREO	31		37		37		37		36
Total nonperforming portfolio assets	560		498		395		448		480
Nonaccrual loans held for sale	4		-		-		18		5
Nonaccrual restructured loans held for sale	23		14		16		17		18
Total nonperforming assets	$587		$512		$411		$483		$503
Restructured portfolio consumer loans and leases (accrual)	$958		$950		$961		$987		$1,024
Restructured portfolio commercial loans and leases (accrual)	$32		$59		$60		$80		$104
Loans 90 days past due (accrual):
Commercial and industrial loans	$19		$15		$4		$3		$4
Commercial mortgage loans	11		20		2		1		-
Commercial construction loans	1		-		-		-		-
Total commercial loans	31		35		6		4		4
Residential mortgage loans	47		48		38		40		44
Home equity	1		1		-		-		-
Indirect secured consumer loans	11		9		12		11		10
Credit card	37		38		37		32		31
Other consumer loans	1		1		-		-		-
Total consumer loans	97		97		87		83		85
Total loans 90 days past due (accrual)(b)	$128		$132		$93		$87		$89
Ratios
Net losses charged-off as a percent of average portfolio loans and leases	0.29%		0.32%		0.35%		0.30%		0.41%
Allowance for loan and lease losses:
As a percent of portfolio loans and leases	1.02%		1.02%		1.16%		1.17%		1.17%
As a percent of nonperforming portfolio loans and leases(a)	214%		248%		317%		270%		247%
As a percent of nonperforming portfolio assets(a)	199%		224%		279%		243%		224%
Nonperforming portfolio loans and leases as a percent of portfolio loans and leases and OREO(a)	0.48%		0.41%		0.37%		0.43%		0.47%
Nonperforming portfolio assets as a percent of portfolio loans and leases and OREO(a)	0.51%		0.45%		0.41%		0.48%		0.52%
Nonperforming assets as a percent of total loans and leases, OREO, and repossessed property	0.53%		0.46%		0.43%		0.51%		0.54%
(a)  Excludes nonaccrual loans held for sale. (b)  Excludes loans held for sale.

25

Use of Non-GAAP Financial Measures

In addition to GAAP measures, management considers various Non-GAAP measures when evaluating the performance of the business, including: “net interest income (FTE),” “interest income (FTE),” “net interest margin (FTE),” “net interest rate spread (FTE),” “income before income taxes (FTE),” “tangible net income available to common shareholders,” “average tangible common equity,” “return on average tangible common equity,” “tangible common equity (excluding unrealized gains/losses),” “tangible common equity (including unrealized gains/losses),” “tangible equity,” “tangible book value per share,” “adjusted noninterest income,” “adjusted noninterest expense,” “pre-provision net revenue,” “adjusted efficiency ratio,” “adjusted return on average common equity,” “adjusted return on average tangible common equity,” “adjusted return on average tangible common equity, excluding accumulated other comprehensive income,” “adjusted net interest margin,” “adjusted pre-provision net revenue,” “adjusted return on average assets,” “efficiency ratio (FTE),” and certain ratios derived from these measures. The Bancorp believes these non-GAAP measures provide useful information to investors because these are among the measures used by the Fifth Third management team to evaluate operating performance and make day-to-day operating decisions.

The FTE basis adjusts for the tax-favored status of income from certain loans and securities held by the Bancorp that are not taxable for federal income tax purposes. The Bancorp believes this presentation to be the preferred industry measurement of net interest income and net interest margin as they provide a relevant comparison between taxable and non-taxable amounts.

The Bancorp believes tangible net income available to common shareholders, average tangible common equity, tangible common equity (excluding unrealized gains/losses), tangible common equity (including unrealized gains/losses), tangible equity, tangible book value per share and return on average tangible common equity are important measures for evaluating the performance of the business without the impacts of intangible items, whether acquired or created internally, compared to other companies in the industry who present similar measures.

The Bancorp believes noninterest income, noninterest expense, net interest income, net interest margin, pre-provision net revenue, efficiency ratio, return on average common equity, return on average tangible common equity, and return on average assets are important measures that adjust for significant, unusual, or large transactions that may occur in a reporting period which management does not consider indicative of on-going financial performance and enhances comparability of results with prior periods.

Management considers various measures when evaluating capital utilization and adequacy, including the tangible equity and tangible common equity (including and excluding unrealized gains/losses), in addition to capital ratios defined by the U.S. banking agencies. These calculations are intended to complement the capital ratios defined by the U.S. banking agencies for both absolute and comparative purposes. These ratios are not formally defined by U.S. GAAP or codified in the federal banking regulations and, therefore, are considered to be Non-GAAP financial measures. Management believes that providing the tangible common equity ratio excluding unrealized gains/losses on certain assets and liabilities enables investors and others to assess the Bancorp’s use of equity without the effects of gains or losses some of which are uncertain and providing the tangible common equity ratio including unrealized gains/losses enables investors and others to assess the Bancorp’s use of equity if all unrealized gains or losses were to be monetized.

Please note that although Non-GAAP financial measures provide useful insight, they should not be considered in isolation or relied upon as a substitute for analysis using GAAP measures.

Please see Reg. G reconciliations of all historical Non-GAAP measures used in this release to the most directly comparable GAAP measures, beginning on the following page.

26

Fifth Third Bancorp and Subsidiaries
Regulation G Non-GAAP Reconciliation
$ and shares in millions	For the Three Months Ended
(unaudited)	June			March			December			September			June
	2019			2019			2018			2018			2018
Net interest income		$1,245			$1,082			$1,081			$1,043			$1,020
Add:   Taxable equivalent adjustment		5			4			4			4			4
Net interest income (FTE) (a)		1,250			1,086			1,085			1,047			1,024
Net interest income (annualized) (b)		4,994			4,388			4,289			4,138			4,091
Net interest income (FTE) (annualized) (c)		5,014			4,404			4,305			4,154			4,107
Net interest income (FTE)		1,250			1,086			1,085			1,047			1,024
Less:   Net interest income impact from purchase accounting accretion		16			1			-			-			-
Adjusted net interest income (FTE) (d)		1,234			1,085			1,085			1,047			1,024
Adjusted net interest income (FTE) (annualized) (e)		4,950			4,400			4,305			4,154			4,107
Interest income		1,636			1,433			1,393			1,315			1,269
Add:   Taxable equivalent adjustment		5			4			4			4			4
Interest income (FTE)		1,641			1,437			1,397			1,319			1,273
Interest income (FTE) (annualized) (f)		6,582			5,828			5,542			5,233			5,106
Interest expense (annualized) (g)		1,568			1,424			1,238			1,079			999
Average interest-earning assets (h)		148,790			134,463			131,072			128,799			128,167
Average interest-bearing liabilities (i)		106,340			97,137			93,176			89,772			89,222
Net interest margin (b) / (h)		3.36%			3.26%			3.27%			3.21%			3.19%
Net interest margin (FTE) (c) / (h)		3.37%			3.28%			3.29%			3.23%			3.21%
Adjusted net interest margin (e) / (h)		3.32%			3.28%			3.29%			3.23%			3.21%
Net interest rate spread (FTE) (f) / (h) - (g) / (i)		2.95%			2.87%			2.90%			2.87%			2.86%
Income before income taxes		$577			$996			$584			$550			$748
Add:   Taxable equivalent adjustment		5			4			4			4			4
Income before income taxes (FTE)		$582			$1,000			$588			$554			$752
Net income available to common shareholders		$427			$760			$432			$421			$579
Add:   Intangible amortization, net of tax		11			2			1			1			1
Tangible net income available to common shareholders (j)		438			762			433			422			580
Tangible net income available to common shareholders (annualized) (k)		1,757			3,090			1,718			1,674			2,326
Average Bancorp shareholders’ equity		20,135			17,025			15,794			15,994			15,947
Less:  Average preferred stock		(1,331	)		(1,331	)		(1,331	)		(1,331	)		(1,331	)
Average goodwill		(4,301	)		(2,682	)		(2,468	)		(2,462	)		(2,462	)
Average intangible assets		(215	)		(58	)		(32	)		(29	)		(30	)
Average tangible common equity, including accumulated other comprehensive income (“AOCI”) (l)		14,288			12,954			11,963			12,172			12,124
Less: Average AOCI		(619)			-			719			610			619
Average tangible common equity, excluding AOCI (m)		13,669			12,954			12,682			12,782			12,743
Total Bancorp shareholders’ equity		20,474			19,647			16,250			15,681			16,080
Less:  Preferred stock		(1,331	)		(1,331	)		(1,331	)		(1,331	)		(1,331	)
Goodwill		(4,284	)		(4,321	)		(2,478	)		(2,462	)		(2,462	)
Intangible assets		(215	)		(218	)		(40	)		(28	)		(30	)
Tangible common equity, including AOCI (n)		14,644			13,777			12,401			11,860			12,257
Less:  AOCI		(1,178)			(409)			112			775			552
Tangible common equity, excluding AOCI (o)		13,466			13,368			12,513			12,635			12,809
Add:   Preferred stock		1,331			1,331			1,331			1,331			1,331
Tangible equity (p)		14,797			14,699			13,844			13,966			14,140
Total assets		168,802			167,853			146,069			141,590			140,595
Less: Goodwill		(4,284	)		(4,321	)		(2,478	)		(2,462	)		(2,462	)
Intangible assets		(215	)		(218	)		(40	)		(28	)		(30	)
Tangible assets, including AOCI (q)		164,303			163,314			143,551			139,100			138,103
Less:  AOCI, before tax		(1,491)			(518)			142			981			699
Tangible assets, excluding AOCI (r)		$162,812			$162,796			$143,693			$140,081			$138,802
Common shares outstanding (s)		731			739			647			661			678
Tangible equity (p) / (r)		9.09%			9.03%			9.63%			9.97%			10.19%
Tangible common equity (excluding AOCI) (o) / (r)		8.27%			8.21%			8.71%			9.02%			9.23%
Tangible common equity (including AOCI) (n) / (q)		8.91%			8.44%			8.64%			8.53%			8.88%
Tangible book value per share (n) / (s)		$20.03			$18.64			$19.17			$17.94			$18.08

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Fifth Third Bancorp and Subsidiaries
Regulation G Non-GAAP Reconciliation
$ in millions	For the Three Months Ended
(unaudited)	June		March		June
	2019		2019		2018
Net income attributable to Bancorp (t)	$453		$775		$602
Net income attributable to Bancorp (annualized) (u)	1,817		3,143		2,415
Adjustments (pre-tax items)
Merger-related expense	109		76		2
Valuation of Visa total return swap	22		31		10
Merger-related branch network impairment charge	-		13		-
Compensation expense primarily related to staffing review	-		-		19
Branch network impairment charge	-		-		30
Fifth Third Foundation contribution	-		-		10
GreenSky IPO gain	-		-		(16	)
GreenSky securities losses (gains)	-		(9	)	-
Gain on sale of Vantiv/Worldpay shares	-		(562	)	(205	)
Adjustments, after-tax (v)(a)	101		(341	)	(116	)
Adjustments (tax related items)
Acquisition impact on state deferred taxes	-		9		-
Adjustments, tax related (w)	-		9		-
Noninterest income (x)	660		1,101		743
Merger-related branch network impairment charge	-		13		-
Valuation of Visa total return swap	22		31		10
Gain on sale of Vantiv/Worldpay shares	-		(562	)	(205	)
GreenSky securities losses (gains)	-		(9	)	-
Branch network impairment charge	-		-		30
GreenSky IPO gain	-		-		(16	)
Adjusted noninterest income (y)	682		574		562
Noninterest expense (z)	1,243		1,097		1,001
Merger-related expense	(109	)	(76	)	(2	)
Compensation expense primarily related to staffing review	-		-		(19	)
Fifth Third Foundation contribution	-		-		(10	)
Adjusted noninterest expense (aa)	1,134		1,021		970
Intangible amortization expense	14		3		1
Adjusted noninterest expense excluding intangible amortization expense (ab)	1,120		1,018		969
Adjusted net income attributable to Bancorp (t) + (v) + (w)	554		443		486
Adjusted net income attributable to Bancorp (annualized) (ac)	2,222		1,797		1,949
Adjusted tangible net income available to common shareholders (j) + (v) + (w)	539		430		464
Adjusted tangible net income available to common shareholders (annualized) (ad)	2,162		1,744		1,861
Average assets (ae)	$167,578		$148,968		$141,420
Return on average tangible common equity (k) / (l)	12.3%		23.9%		19.2%
Adjusted return on average tangible common equity, including AOCI (ad) / (l)	15.1%		13.5%		15.3%
Adjusted return on average tangible common equity, excluding AOCI (ad) / (m)	15.8%		13.5%		14.6%
Return on average assets (u) / (ae)	1.08%		2.11%		1.71%
Adjusted return on average assets (ac) / (ae)	1.33%		1.21%		1.38%
Efficiency ratio (z) / [(a) + (x)]	65.1%		50.2%		56.7%
Adjusted efficiency ratio (ab) / [(d) + (y)]	58.5%		61.4%		61.1%
Pre-provision net revenue (PPNR) (a) + (x) - (z)	$667		$1,090		$766
Adjusted pre-provision net revenue (PPNR) (d) + (y) - (ab)	$796		$641		$617

  (a) Assumes a 23% tax rate, except for merger-related expenses impacted by certain non-deductible items.

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Fifth Third Bancorp and Subsidiaries
Segment Presentation
$ in millions
(unaudited)
For the three months ended June 30, 2019	Commercial     Banking		Branch       Banking(b)		Consumer       Lending(c)		Wealth     and Asset     Management		Other/       Eliminations		Total
Net interest income (FTE)(a)	$634		$620		$83		$48		($135	)	$1,250
(Provision for) benefit from credit losses	(25	)	(55	)	(7	)	—		2		(85	)
Net interest income after provision for credit losses	609		565		76		48		(133	)	1,165
Noninterest income	301		202		67		118		(28	)	660
Noninterest expense	(420	)	(467	)	(118	)	(135	)	(103	)	(1,243	)
Income (loss) before income taxes	490		300		25		31		(264	)	582
Applicable income tax (expense) benefit(a)	(95	)	(63	)	(5	)	(7	)	41		(129	)
Net income (loss)	395		237		20		24		(223	)	453
For the three months ended March 31, 2019	Commercial     Banking		Branch       Banking(b)		Consumer       Lending(c)		Wealth     and Asset     Management		Other/     Eliminations		Total
Net interest income (FTE)(a)	$513		$584		$63		$49		($123	)	$1,086
Provision for credit losses	(20	)	(52	)	(13	)	—		(5	)	(90	)
Net interest income after provision for credit losses	493		532		50		49		(128	)	996
Noninterest income	227		183		61		114		516		1,101
Noninterest expense	(356	)	(440	)	(101	)	(130	)	(70	)	(1,097	)
Income before income taxes	364		275		10		33		318		1,000
Applicable income tax expense(a)	(70	)	(58	)	(2	)	(7	)	(88	)	(225	)
Net income	294		217		8		26		230		775
For the three months ended December 31, 2018	Commercial     Banking		Branch       Banking(b)		Consumer       Lending(c)		Wealth     and Asset     Management		Other/     Eliminations		Total
Net interest income (FTE)(a)	$444		$544		$60		$48		($11	)	$1,085
Provision for credit losses(d)	(15	)	(47	)	(12	)	(5	)	(18	)	(97	)
Net interest income after provision for credit losses	429		497		48		43		(29	)	988
Noninterest income	237		196		58		110		(26	)	575
Noninterest expense(d)	(317	)	(424	)	(93	)	(122	)	(19	)	(975	)
Income (loss) before income taxes	349		269		13		31		(74	)	588
Applicable income tax (expense) benefit(a)	(80	)	(56	)	(3	)	(7	)	13		(133	)
Net income (loss)	269		213		10		24		(61	)	455
For the three months ended September 30, 2018	Commercial     Banking		Branch       Banking(b)		Consumer       Lending(c)		Wealth     and Asset     Management		Other/     Eliminations		Total
Net interest income (FTE)(a)	$431		$525		$60		$46		($15	)	$1,047
(Provision for) benefit from credit losses(d)	11		(34	)	(10	)	(3	)	(48	)	(84	)
Net interest income after provision for credit losses	442		491		50		43		(63	)	963
Noninterest income	235		204		50		115		(41	)	563
Noninterest expense(d)	(307	)	(433	)	(100	)	(126	)	(6	)	(972	)
Income (loss) before income taxes	370		262		-		32		(110	)	554
Applicable income tax (expense) benefit(a)	(69	)	(55	)	-		(7	)	13		(118	)
Net income (loss)	301		207		-		25		(97	)	436
For the three months ended June 30, 2018	Commercial     Banking		Branch       Banking(b)		Consumer       Lending(c)		Wealth     and Asset     Management		Other/     Eliminations		Total
Net interest income (FTE)(a)	$431		$499		$59		$45		($10	)	$1,024
(Provision for) benefit from credit losses(d)	10		(47	)	(8	)	11		20		(14	)
Net interest income after provision for credit losses	441		452		51		56		10		1,010
Noninterest income	229		167		52		109		186		743
Noninterest expense(d)	(303	)	(432	)	(107	)	(123	)	(36	)	(1,001	)
Income (loss) before income taxes	367		187		(4	)	42		160		752
Applicable income tax (expense) benefit(a)	(62	)	(40	)	1		(9	)	(40	)	(150	)
Net income (loss)	305		147		(3	)	33		120		602

(a) Includes taxable equivalent adjustments of $5 million, $4 million, $4 million, $4 million and $4 million for the three months ended June 30, 2019, March 31, 2019, December 31, 2018, September 30, 2018 and June 30, 2018, respectively.

(b) Branch Banking provides a full range of deposit and loan and lease products to individuals and small businesses through full-service banking centers.

(c) Consumer Lending includes the Bancorp’s residential mortgage, home equity, automobile and other indirect lending activities.

(d) Certain prior period data has been reclassified to conform to current period presentation.

29