Fifth Third Bancorp (FITB) 8-K Fifth Third Announces Second Quarter 2013 Net Income to Common Shareholders of $594 Million or $0.66 Per Diluted Share

Exhibit 99.1

		News Release
CONTACTS:	Jim Eglseder (Investors) (513) 534-8424 Laura Wehby (Investors) (513) 534-7407 Larry Magnesen (Media) (513) 534-8055	FOR IMMEDIATE RELEASE July 18, 2013

FIFTH THIRD ANNOUNCES SECOND QUARTER 2013 NET INCOME TO COMMON SHAREHOLDERS OF $594 MILLION OR $0.66 PER DILUTED SHARE

• 2Q13 net income available to common shareholders of $594 million, or $0.66 per diluted common share, vs. $413 million or $0.46 per share in 1Q13, up 43%, and $376 million or $0.40 per share in 2Q12, up 65%

• 2Q13 results included a benefit of $242 million pre-tax (~$157 million after-tax, or ~$0.17 per share) on the sale of shares of Vantiv and $76 million pre-tax (~$49 million after-tax, or ~$0.05 per share) on the valuation of the warrant Fifth Third holds in Vantiv

• In 1Q13 and 2Q12, the benefit of the valuation of the warrant Fifth Third holds in Vantiv was $34 million pre-tax (~$22 million after-tax, or ~$0.02 per share) and $56 million pre-tax (~$36 million after-tax, or ~$0.04 per share), respectively

• 2Q13 return on assets (ROA) of 1.98%; return on average common equity of 17.6%; return on average tangible common equity** of 21.6%

• Pre-provision net revenue (PPNR)** of $923 million in 2Q13

• Net interest income (FTE) of $885 million, down 1% sequentially; net interest margin 3.33%; average portfolio loans up 1% sequentially (includes impact from 1Q13 securitization of auto loans); period end loans up 2%

• Noninterest income of $1.1 billion compared with $743 million in prior quarter; increase largely driven by sale of Vantiv shares. Excluding Vantiv, noninterest income of $742 million up 5% from $709 million in 1Q13.

• Noninterest expense of $1.0 billion, up 4% from 1Q13; largely driven by increase in litigation reserves

• 2Q13 effective tax rate of 29.8% compared with 30.4% in 1Q13 and 31.8% in 2Q12

• Credit trends remain favorable

• 2Q13 net charge-offs of $112 million (0.51% of loans and leases) vs. 1Q13 NCOs of $133 million (0.63% of loans and leases) and 2Q12 NCOs of $181 million (0.88% of loans and leases)

• 2Q13 provision expense of $64 million vs. provision of $62 million in 1Q13 and $71 million in 2Q12

• Loan loss allowance decreased $48 million sequentially reflecting continued improvement in credit trends; allowance to loan ratio of 1.99%, 151% of nonperforming assets, 191% of nonperforming loans and leases

• Total nonperforming assets (NPAs) of $1.2 billion, including loans held-for-sale (HFS), declined $64 million, or 5%, sequentially; portfolio NPA ratio of 1.32% down 9 bps from 1Q13, NPL ratio of 1.04% down 7 bps from 1Q13

• Strong capital ratios*

• Tier 1 common ratio 9.44%**, down 26 bps sequentially, largely due to repurchases of ~$539 million in common shares announced during the quarter (Basel III pro forma estimate of ~9.10%)

• Tier 1 capital ratio 11.07%, Total capital ratio 14.35%, Leverage ratio 10.41%

• Tangible common equity ratio** of 8.83% excluding unrealized gains/losses; 8.95% including them

• Repurchased ~26 million common shares in 2Q13; average diluted share count reduced by 13 million shares including impact from 1Q13 and 2Q13 share repurchases

• Book value per share of $15.57; tangible book value per share** of $12.71 up 1% from 1Q13 and 7% from 2Q12

* Capital ratios estimated; presented under current U.S. capital regulations. The pro forma Basel III Tier I common equity ratio is management’s estimate based upon its current interpretation of recent prospective regulatory capital requirements approved in July 2013. See “Capital Position” section for more information.

** Non-GAAP measure; see Reg. G reconciliation on page 34.

Fifth Third Bancorp (Nasdaq: FITB) today reported second quarter 2013 net income of $603 million, compared with net income of $422 million in the first quarter of 2013 and net income of $385 million in the second quarter of 2012. After preferred dividends, second quarter 2013 net income available to common shareholders was $594 million, or $0.66 per diluted share, compared with first quarter net income to common shareholders of $413 million, or $0.46 per diluted share, and net income to common shareholders of $376 million, or $0.40 per diluted share, in the second quarter of 2012.

Second quarter 2013 noninterest income results included a $242 million gain on the sale of Vantiv shares; a $76 million positive valuation adjustment on the Vantiv warrant; a pre-tax benefit of $10 million resulting from a settlement related to a previously surrendered bank-owned life insurance (BOLI) policy; and a $5 million charge related to the valuation of the Visa total return swap. Second quarter noninterest expense included $33 million in charges to increase litigation reserves.

First quarter 2013 noninterest income included a $34 million positive valuation adjustment on the Vantiv warrant; a $7 million gain on the sale of certain Fifth Third Asset Management (FTAM) advisory contracts; and a $7 million charge related to the valuation of the Visa total return swap. Net gains on investment securities were $17 million. First quarter noninterest expense included $9 million in charges to increase litigation reserves. First quarter income tax expense was higher by $12 million due to the seasonal expiration of employee stock options.

Second quarter 2012 results included a $56 million positive valuation adjustment on the Vantiv warrant; a $17 million negative valuation adjustment associated with bank premises held-for-sale; and an $11 million charge related to the valuation of the Visa total return swap. Net gains on investment securities were $3 million. Second quarter 2012 noninterest expense included a $9 million reduction to FDIC insurance expense.

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Earnings Highlights

	For the Three Months Ended															% Change
	June			March			December			September			June
	2013			2013			2012			2012			2012			Seq			Yr/Yr
Earnings ($ in millions)
Net income attributable to Bancorp	$	603		$	422		$	399		$	363		$	385			43	%		57	%
Net income available to common shareholders	$	594		$	413		$	390		$	354		$	376			44	%		58	%
Common Share Data
Earnings per share, basic		0.69			0.47			0.44			0.39			0.41			47	%		68	%
Earnings per share, diluted		0.66			0.46			0.43			0.38			0.40			43	%		65	%
Cash dividends per common share		0.12			0.11			0.10			0.10			0.08			9	%		50	%
Financial Ratios
Return on average assets		1.98	%		1.41	%		1.33	%		1.23	%		1.32	%		40	%		50	%
Return on average common equity		17.6			12.5			11.5			10.4			11.4			41	%		54	%
Return on average tangible common equity		21.6			15.4			14.1			12.8			14.1			40	%		53	%
Tier I capital		11.07			10.83			10.65			10.85			12.31			2	%		(10	%)
Tier I common equity		9.44			9.70			9.51			9.67			9.77			(3	%)		(3	%)
Net interest margin (a)		3.33			3.42			3.49			3.56			3.56			(3	%)		(6	%)
Efficiency (a)		52.3			59.8			65.2			63.7			59.4			(12	%)		(12	%)
Common shares outstanding (in thousands)		851,474			874,645			882,152			897,467			918,913			(3	%)		(7	%)
Average common shares outstanding
(in thousands):
Basic		858,583			870,923			884,676			904,475			913,541			(1	%)		(6	%)
Diluted		900,625			913,163			925,585			944,821			954,622			(1	%)		(6	%)

(a) Presented on a fully taxable equivalent basis

The percentages in all of the tables in this earning release are calculated on actual dollar amounts not the rounded dollar amounts.

“Second quarter results were again strong for Fifth Third,” said Kevin T. Kabat, CEO of Fifth Third Bancorp. “The Company reported $594 million in net income to common shareholders. Return on assets was 1.98 percent and return on average tangible common equity* was 21.6 percent for the quarter including Vantiv-related gains, and were 1.30 percent and 14.1 percent, respectively, excluding them.

“We posted our tenth consecutive quarter of sequential average portfolio loan growth, driven by C&I loan growth of 3 percent. Nearly all fee income categories increased quarter-over-quarter, highlighted by mortgage banking net revenue and corporate banking revenue, which grew 6 and 7 percent, respectively. All major fee categories showed mid-single digit growth year-over-year.

“Credit trends continued to improve as net charge-offs declined 16 percent to $112 million, or 51 basis points of loans, and we saw continued, broad based improvement in nearly every key credit metric.

“During the quarter, we entered into an agreement to repurchase $539 million of common shares. We have approximately $600 million of repurchase capacity remaining under our current CCAR plan extending through March 31, 2014, excluding any potential gains from Vantiv share sales in the future. At the beginning of the third quarter, we converted our Series G preferred stock into common stock, although those shares were already included in our fully diluted share count. Regulatory approval of final capital rules for U.S. banks provides welcome clarity for our management of capital, and our capital position under those rules would remain strong with an estimated pro forma Tier 1 common equity ratio* of 9.1 percent under the new final rules compared with 9.4 percent under current rules.”

* Non-GAAP measure; see Reg. G reconciliation on page 34.

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Income Statement Highlights

	For the Three Months Ended												% Change
	June		March			December			September		June
	2013		2013			2012			2012		2012		Seq			Yr/Yr
Condensed Statements of Income ($ in millions)
Net interest income (taxable equivalent)	$	885	$	893		$	903		$	907	$	899		(1	%)		(2	%)
Provision for loan and lease losses		64		62			76			65		71		2	%		(11	%)
Total noninterest income		1,060		743			880			671		678		43	%		56	%
Total noninterest expense		1,017		978			1,163			1,006		937		4	%		9	%
Income before income taxes (taxable equivalent)		864		596			544			507		569		45	%		52	%
Taxable equivalent adjustment		5		5			4			4		4		5	%		8	%
Applicable income taxes		256		179			144			139		180		42	%		42	%
Net income		603		412			396			364		385		46	%		56	%
Less: Net income attributable to noncontrolling interest		—		(10	)		(3	)		1		—		NM			10	%
Net income attributable to Bancorp		603		422			399			363		385		43	%		57	%
Dividends on preferred stock		9		9			9			9		9		2	%		2	%
Net income available to common shareholders		594		413			390			354		376		44	%		58	%
Earnings per share, diluted	$	0.66	$	0.46		$	0.43		$	0.38	$	0.40		43	%		65	%

Net Interest Income

	For the Three Months Ended															% Change
	June			March			December			September			June
	2013			2013			2012			2012			2012			Seq			Yr/Yr
Interest Income ($ in millions)
Total interest income (taxable equivalent)	$	989		$	1,000		$	1,020		$	1,027		$	1,031			(1	%)		(4	%)
Total interest expense		104			107			117			120			132			(3	%)		(21	%)
Net interest income (taxable equivalent)	$	885		$	893		$	903		$	907		$	899			(1	%)		(2	%)
Average Yield
Yield on interest-earning assets (taxable equivalent)		3.73	%		3.84	%		3.94	%		4.03	%		4.08	%		(3	%)		(9	%)
Yield on interest-bearing liabilities		0.57	%		0.59	%		0.65	%		0.67	%		0.73	%		(3	%)		(22	%)
Net interest rate spread (taxable equivalent)		3.16	%		3.25	%		3.29	%		3.36	%		3.35	%		(3	%)		(6	%)
Net interest margin (taxable equivalent)		3.33	%		3.42	%		3.49	%		3.56	%		3.56	%		(3	%)		(6	%)
Average Balances ($ in millions)
Loans and leases, including held for sale	$	89,473		$	88,880		$	86,180		$	84,829		$	84,508			1	%		6	%
Total securities and other short-term investments		16,962			16,846			16,765			16,588			17,168			1	%		(1	%)
Total interest-earning assets		106,435			105,726			102,945			101,417			101,676			1	%		5	%
Total interest-bearing liabilities		73,363			74,038			71,420			72,026			73,162			(1	%)		—
Bancorp shareholders’ equity		14,221			13,779			13,855			13,887			13,628			3	%		4	%

Net interest income of $885 million on a fully taxable equivalent basis decreased $8 million from the first quarter and included a $6 million increase due to higher day count in the second quarter. Excluding the impact of day count, the decline in net interest income reflected loan repricing and maturities of interest rate floors, partially offset by net loan growth and the benefit of higher yields on investment securities. Net interest income also benefited from a decline in interest expense driven by the maturity of $750 million in holding company debt and related swaps during the quarter, partially offset by the full quarter impact of the $1.3 billion bank note issuance and related swaps in the first quarter.

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The net interest margin was 3.33 percent, a decrease of 9 bps from 3.42 percent in the previous quarter. The decline in net interest margin was primarily driven by lower loan yields and the maturity of interest rate floors, partially offset by higher securities yields and the debt maturity in the first quarter. The impact of day count reduced the net interest margin by 1 bp.

Compared with the second quarter of 2012, net interest income decreased $14 million and the net interest margin decreased 23 bps, driven by lower asset yields partially offset by higher average loan balances, lower long-term debt expense, and run-off in higher-priced CDs.

Securities

Average securities and other short-term investments were $17.0 billion in the second quarter of 2013 compared with $16.8 billion in the previous quarter and $17.2 billion in the second quarter of 2012. On an end of period basis, available for sale securities of $16.2 billion increased $924 million from the prior quarter as a result of the pre-investment of expected portfolio cash flows. Other short-term investment end of period balances of $1.1 billion declined $1.2 billion from unusually high cash balances held at the Federal Reserve at the end of the first quarter.

Loans

	For the Three Months Ended										% Change
	June 2013		March 2013		December 2012		September 2012		June 2012		Seq			Yr/Yr
Average Portfolio Loans and Leases ($ in millions)
Commercial:
Commercial and industrial loans	$	37,630	$	36,395	$	34,301	$	33,111	$	32,734		3	%		15	%
Commercial mortgage		8,618		8,965		9,193		9,567		9,810		(4	%)		(12	%)
Commercial construction		713		695		686		742		873		3	%		(18	%)
Commercial leases		3,552		3,556		3,509		3,481		3,469		—			2	%
Subtotal—commercial loans and leases		50,513		49,611		47,689		46,901		46,886		2	%		8	%
Consumer:
Residential mortgage loans		12,260		12,096		11,846		11,578		11,274		1	%		9	%
Home equity		9,625		9,872		10,129		10,312		10,430		(2	%)		(8	%)
Automobile loans		11,887		11,961		11,944		11,812		11,755		(1	%)		1	%
Credit card		2,071		2,069		2,029		1,971		1,915		—			8	%
Other consumer loans and leases		351		294		306		314		326		20	%		8	%
Subtotal—consumer loans and leases		36,194		36,292		36,254		35,987		35,700		—			1	%
Total average loans and leases (excluding held for sale)	$	86,707	$	85,903	$	83,943	$	82,888	$	82,586		1	%		5	%
Average loans held for sale		2,766		2,977		2,237		1,941		1,922		(7	%)		44	%

Average loan and lease balances (excluding loans held-for-sale) increased $804 million, or 1 percent, sequentially and increased $4.1 billion, or 5 percent, from the second quarter of 2012. Period end loan and lease balances (excluding loans held-for-sale) increased $1.4 billion, or 2 percent sequentially and increased $4.7 billion, or 6 percent, from a year ago. Comparisons reflect the securitization of approximately $500 million of auto loans in March 2013, as the full quarter impact of the securitization reduced average portfolio loans by $338 million compared with the first quarter of 2013.

Average commercial portfolio loan and lease balances were up $902 million, or 2 percent, sequentially and increased $3.6 billion, or 8 percent, from the second quarter of 2012. Average commercial and industrial (C&I) loans increased 3 percent sequentially and increased 15 percent compared with the second quarter of 2012. Average commercial mortgage and

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commercial construction loan balances combined declined 3 percent sequentially and declined 13 percent from the same period in the previous year. Commercial line usage, on an end of period basis, was 31 percent of committed lines in the second quarter of 2013 compared with 31 percent in the first quarter of 2013 and 32 percent in the second quarter of 2012.

Average consumer portfolio loan and lease balances were flat sequentially and increased $494 million, or 1 percent, from the second quarter of 2012. In the first quarter, approximately $500 million in auto loans were reclassified to held-for-sale in anticipation of their securitization and sale, which took place at the end of March. The full quarter impact of the securitization reduced average portfolio loans by $338 million compared with the first quarter of 2013. Average residential mortgage loans increased 1 percent sequentially and increased 9 percent from a year ago, reflecting the continued retention of certain shorter term residential mortgage loans. Average auto loans declined 1 percent sequentially and increased 1 percent from the second quarter of 2012, and included the effect of the first quarter 2013 auto securitization. Average home equity loan balances declined 2 percent sequentially and declined 8 percent year-over-year due to lower demand and production.

Average loans held-for-sale balances of $2.8 billion decreased $211 million sequentially, primarily reflecting a $135 million decrease in auto loans that were moved to held-for-sale prior to being securitized and sold at the end of March. Average loans held-for-sale balances increased $844 million compared with the second quarter of 2012. Period end loans held-for-sale of $2.1 billion decreased $543 million from the previous quarter and increased $285 million from the second quarter of 2012 reflecting fluctuations in residential mortgage held-for-sale balances.

Deposits

	For the Three Months Ended										% Change
	June 2013		March 2013		December 2012		September 2012		June 2012		Seq			Yr/Yr
Average Deposits ($ in millions)
Demand deposits	$	29,682	$	28,565	$	29,223	$	27,127	$	26,351		4	%		13	%
Interest checking		22,796		23,763		23,556		22,967		23,548		(4	%)		(3	%)
Savings		18,864		19,576		20,216		21,283		22,143		(4	%)		(15	%)
Money market		8,918		7,932		6,026		4,776		4,258		12	%		NM
Foreign office (a)		1,418		1,102		1,174		1,345		1,321		29	%		7	%
Subtotal—Transaction deposits		81,678		80,938		80,195		77,498		77,621		1	%		5	%
Other time		3,859		3,982		4,094		4,224		4,359		(3	%)		(11	%)
Subtotal—Core deposits		85,537		84,920		84,289		81,722		81,980		1	%		4	%
Certificates—$100,000 and over		6,519		4,017		3,084		3,016		3,130		62	%		NM
Other		10		40		32		32		23		(74	%)		(55	%)
Total deposits	$	92,066	$	88,977	$	87,405	$	84,770	$	85,133		3	%		8	%

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

Average core deposits increased $617 million, or 1 percent, sequentially and increased $3.6 billion, or 4 percent, from the second quarter of 2012. Average transaction deposits, which are included in core deposits, increased $740 million, or 1 percent, from the first quarter of 2013 primarily driven by higher demand deposits and money market balances, partially offset by lower interest checking and savings balances. Year-over-year transaction deposits increased $4.1 billion, or 5 percent, driven by higher money market and demand deposits, partially offset by lower savings and interest checking balances. Other time deposits, primarily CDs, decreased 3 percent sequentially and 11 percent compared with the second quarter of 2012.

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Commercial average transaction deposits increased 1 percent sequentially and increased 4 percent from the previous year. Sequential performance reflected higher foreign office, demand deposit, and money market balances partially offset by lower interest checking balances. Year-over-year growth was primarily driven by higher inflows to demand deposit and money market account balances. Average public funds balances were $5.2 billion compared with $5.5 billion in the first quarter of 2013 and $5.7 billion in the second quarter of 2012.

Consumer average transaction deposits increased 1 percent sequentially and increased 6 percent from the second quarter of 2012. The sequential increase reflected higher demand deposit and money market deposits, which were partially offset by lower savings and interest checking balances. Year-over-year growth was driven by increased money market and demand deposit balances partially offset by lower savings and interest checking balances. Consumer CDs included in core deposits declined 3 percent sequentially, driven by customer reluctance to purchase CDs given the continued low rate environment, and declined 11 percent year-over-year driven by maturities of higher-rate CDs.

Wholesale Funding

	For the Three Months Ended										% Change
	June 2013		March 2013		December 2012		September 2012		June 2012		Seq			Yr/Yr
Average Wholesale Funding ($ in millions)
Certificates—$100,000 and over	$	6,519	$	4,017	$	3,084	$	3,016	$	3,130		62	%		NM
Other deposits		10		40		32		32		23		(74	%)		(55	%)
Federal funds purchased		560		691		794		664		408		(19	%)		37	%
Other short-term borrowings		2,867		5,429		4,553		4,856		4,303		(47	%)		(33	%)
Long-term debt		7,552		7,506		7,891		8,863		9,669		1	%		(22	%)
Total wholesale funding	$	17,508	$	17,683	$	16,354	$	17,431	$	17,533		(1	%)		—

Average wholesale funding of $17.5 billion decreased $175 million, or 1 percent, sequentially and was flat compared with the second quarter of 2012. The sequential and year-over-year comparisons reflect lower short-term borrowings, primarily short-term FHLB borrowings, partially offset by the issuance of certificates $100,000 and over. Average long-term debt balances reflected the full quarter impact of the $1.3 billion bank note issuance in the first quarter partially offset by the $750 million and $500 million senior note maturities in the second quarter of 2013.

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Noninterest Income

	For the Three Months Ended											% Change
	June 2013		March 2013		December 2012			September 2012		June 2012		Seq			Yr/Yr
Noninterest Income ($ in millions)
Service charges on deposits	$	136	$	131	$	134		$	128	$	130		4	%		4	%
Corporate banking revenue		106		99		114			101		102		7	%		4	%
Mortgage banking net revenue		233		220		258			200		183		6	%		28	%
Investment advisory revenue		98		100		93			92		93		(2	%)		6	%
Card and processing revenue		67		65		66			65		64		4	%		6	%
Other noninterest income		414		109		215			78		103		NM			NM
Securities gains, net		—		17		2			2		3		(99	%)		(96	%)
Securities gains (losses), net—non-qualifying hedges on mortgage servicing rights		6		2		(2	)		5		—		NM			NM
Total noninterest income	$	1,060	$	743	$	880		$	671	$	678		43	%		56	%

NM: Not Meaningful

Noninterest income of $1.1 billion increased $317 million sequentially and increased $382 million compared with prior year results. The sequential and year-over-year increases were driven by the $242 million gain on the sale of Vantiv shares and a higher valuation adjustment on the Vantiv warrant. Vantiv warrant valuation adjustments were a positive $76 million in the second quarter of 2013 compared with positive $34 million and positive $56 million in the first quarter of 2013 and second quarter of 2012, respectively. Excluding these Vantiv-related benefits, noninterest income increased $33 million, or 5 percent, from the first quarter and $120 million, or 19 percent, from the second quarter of 2012.

Second quarter 2013 results also included a pre-tax benefit of $10 million resulting from a settlement related to a previously surrendered BOLI policy and a $5 million charge related to the valuation of the total return swap entered into as part of the 2009 sale of Visa, Inc. Class B shares. Negative valuation adjustments on this swap were $7 million in the first quarter of 2013 and $11 million in the second quarter of 2012. First quarter 2013 results also included $7 million in gains on the sale of certain FTAM advisory contracts. Second quarter 2012 results also included $17 million in lower of cost or market adjustments associated with bank premises held-for-sale. Excluding these items, the aforementioned Vantiv-related impacts, and investment securities gains in all periods, noninterest income of $737 million increased $45 million, or 7 percent, from the previous quarter and increased $90 million, or 14 percent, from the second quarter of 2012. The sequential comparison primarily reflected higher mortgage banking net revenue, corporate banking revenue, and service charges on deposits. The year-over-year comparison primarily reflected higher mortgage banking net revenue and mid-single digit growth in most other fee categories.

Service charges on deposits of $136 million increased 4 percent from the first quarter and increased 4 percent compared with the same quarter last year. Retail service charges increased 10 percent sequentially and 4 percent from the second quarter of 2012 primarily due to the transition to our new and simplified deposit product offerings. Commercial service charges increased 1 percent sequentially and increased 5 percent from a year ago primarily as a result of higher treasury management fees.

Corporate banking revenue of $106 million increased 7 percent from the first quarter of 2013 and 4 percent from the same period last year. The sequential and year-over-year increases were primarily driven by higher syndication fees, interest rate derivatives, foreign exchange fees, and business lending fees, partially offset by lower institutional sales revenue and letter of credit fees.

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Mortgage banking net revenue was $233 million in the second quarter of 2013, a 6 percent increase from the first quarter of 2013 and a 28 percent increase from the second quarter of 2012. Second quarter 2013 originations were a record $7.5 billion, compared with $7.4 billion in the previous quarter and $5.9 billion in the second quarter of 2012. Second quarter 2013 originations resulted in gains of $150 million on mortgages sold, compared with gains of $169 million during the previous quarter and $183 million during the second quarter of 2012. The decline from the prior quarter and prior year primarily reflected lower gain on sale margins. Mortgage servicing fees this quarter were $62 million, compared with $61 million in the previous quarter and $63 million in the second quarter of 2012. Mortgage banking net revenue is also affected by net servicing asset value adjustments, which include mortgage servicing rights (MSR) amortization and MSR valuation adjustments (including mark-to-market adjustments on free-standing derivatives used to economically hedge the MSR portfolio). These net servicing asset valuation adjustments were positive $21 million in the second quarter of 2013 (reflecting MSR amortization of $51 million and MSR valuation adjustments of positive $72 million); negative $10 million in the first quarter of 2013 (MSR amortization of $53 million and MSR valuation adjustments of positive $43 million); and negative $63 million in the second quarter of 2012 (MSR amortization of $41 million and MSR valuation adjustments of negative $22 million). The mortgage servicing asset, net of the valuation reserve, was $894 million at quarter end on a servicing portfolio of $67 billion.

Net gains on securities held as non-qualifying hedges for the MSR portfolio were $6 million in the second quarter of 2013, compared with net gains of $2 million in the first quarter of 2013 and no gains or losses in the second quarter of 2012.

Investment advisory revenue of $98 million decreased 2 percent from record first quarter levels and increased 6 percent year-over-year. The sequential decline reflected lower tax-related private client services revenue, which is seasonally strong in the first quarter. The year-over-year increase was due to higher private client services revenue, brokerage fees, and institutional fees, resulting from increased production and an improvement in equity and bond market values. This fee revenue was partially offset by the absence of mutual fund fees due to the sale of certain Fifth Third funds in the third quarter of 2012.

Card and processing revenue of $67 million in the second quarter of 2013 increased 4 percent sequentially and increased 6 percent from the second quarter of 2012. The sequential increase reflected higher transactions volumes compared with seasonally weaker first quarter volumes. The year-over-year increase reflected the impact of higher transaction volumes, higher levels of consumer spending, and the benefit of new products.

Other noninterest income totaled $414 million in the second quarter of 2013, compared with $109 million in the previous quarter and $103 million in the second quarter of 2012. The second quarter of 2013 included a $242 million gain from the sale of Vantiv shares and a $10 million benefit resulting from a settlement related to a previously surrendered BOLI policy. Other noninterest income also included effects of the valuation of the Vantiv warrant and changes in income related to the valuation of the Visa total return swap. For the quarters ending June 30, 2013, March 31, 2013, and June 30, 2012, the impact of warrant valuation adjustments were positive $76 million, positive $34 million, and positive $56 million, respectively, and changes in income related to the Visa total return swap were losses of $5 million, $7 million, and $11 million, respectively. First quarter 2013 results also included $7 million in gains on the sale of certain FTAM advisory

9

contracts. Second quarter 2012 results also included $17 million in lower of cost or market adjustments associated with bank premises held-for-sale. Excluding the items detailed above, other noninterest income of $91 million increased approximately $16 million, or 21 percent, from the first quarter of 2013 and the second quarter of 2012.

Net credit-related costs recognized in other noninterest income were $6 million in the second quarter of 2013 versus $10 million last quarter and $17 million in the second quarter of 2012. Second quarter 2013 results included no material gains or losses on sales of commercial loans held-for-sale and $1 million of fair value charges on commercial loans held-for-sale, as well as $5 million of losses on other real estate owned (OREO). First quarter 2013 results included $2 million of net gains on sales of commercial loans held-for-sale and $1 million of fair value charges on commercial loans held-for-sale, as well as $10 million of losses on OREO. Second quarter 2012 results included $8 million of net gains on sales of commercial loans held-for-sale, $5 million of fair value charges on commercial loans held-for-sale, and $19 million of losses on OREO.

Net gains on investment securities were immaterial in the second quarter of 2013, compared with investment securities gains of $17 million in the previous quarter and $3 million in the second quarter of 2012.

Noninterest Expense

	For the Three Months Ended										% Change
	June		March		December		September		June
	2013		2013		2012		2012		2012		Seq			Yr/Yr
Noninterest Expense ($ in millions)
Salaries, wages and incentives	$	404	$	399	$	416	$	399	$	393		1	%		3	%
Employee benefits		83		114		96		79		84		(27	%)		(1	%)
Net occupancy expense		76		79		76		76		74		(3	%)		4	%
Technology and communications		50		49		52		49		48		—			3	%
Equipment expense		28		28		27		28		27		(1	%)		1	%
Card and processing expense		33		31		31		30		30		6	%		10	%
Other noninterest expense		343		278		465		345		281		23	%		22	%
Total noninterest expense	$	1,017	$	978	$	1,163	$	1,006	$	937		4	%		9	%

Noninterest expense of $1.0 billion increased 4 percent from the first quarter of 2013 and increased 9 percent versus the second quarter of 2012. Second quarter 2013 expenses included $33 million in charges to increase litigation reserves; and a $2 million benefit from the sale of affordable housing investments. First quarter 2013 expenses included a $9 million benefit from the sale of affordable housing investments and $9 million in charges to increase litigation reserves. Second quarter 2012 expenses included a $9 million reduction to FDIC insurance expense and an $8 million benefit from the sale of affordable housing investments. Excluding these items, noninterest expense of $986 million increased $8 million, or 1 percent, compared with the first quarter of 2013 and increased $32 million, or 3 percent, compared with the second quarter of 2012. Second quarter 2013 also included a net $6 million increase in the mortgage representation and warranty reserve, driven by a $9 million increase in the reserve as a result of additional information obtained from Freddie Mac regarding changes to their selection criteria for future mortgage repurchases and file requests. As such, we are able to better estimate the losses that are probable on loans sold to Freddie Mac with representation and warranty provisions. (Freddie Mac loans represent approximately 53 percent of the outstanding balance of sold loans.) The sequential comparison included a decrease in benefits expense due to seasonally higher FICA and unemployment costs in the first quarter. Sequential and year-over-year comparisons also reflected increased compensation-related expenses.

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Credit costs related to problem assets recorded as noninterest expense totaled $35 million in the second quarter of 2013, compared with $24 million in the first quarter of 2013 and $40 million in the second quarter of 2012. Second quarter credit-related expenses included provision expense for mortgage repurchases of $20 million, compared with $20 million in the first quarter and $18 million a year ago. (Realized mortgage repurchase losses were $14 million in the second quarter of 2013, compared with $20 million last quarter and $16 million in the second quarter of 2012.) Provision for unfunded commitments was a benefit of $2 million in the current quarter, compared with a benefit of $11 million last quarter and a benefit of $1 million a year ago. Derivative valuation adjustments related to customer credit risk were a net zero, positive $1 million, and a net zero for this quarter, last quarter and the year ago quarter, respectively. OREO expense was $3 million this quarter, compared with $4 million last quarter and $5 million a year ago. Other problem asset-related expenses were $14 million in the second quarter, compared with $12 million the previous quarter and $19 million in the same period last year.

Credit Quality

	For the Three Months Ended
	June			March			December			September			June
	2013			2013			2012			2012			2012
Total net losses charged off ($ in millions)
Commercial and industrial loans	($	33	)	($	25	)	($	36	)	($	29	)	($	46	)
Commercial mortgage loans		(10	)		(26	)		(17	)		(28	)		(25	)
Commercial construction loans		—			(3	)		(4	)		(4	)		—
Commercial leases		(2	)		—			1			(1	)		(7	)
Residential mortgage loans		(15	)		(20	)		(23	)		(26	)		(36	)
Home equity		(23	)		(30	)		(34	)		(37	)		(39	)
Automobile loans		(5	)		(4	)		(9	)		(7	)		(7	)
Credit card		(19	)		(20	)		(19	)		(18	)		(18	)
Other consumer loans and leases		(5	)		(5	)		(6	)		(6	)		(3	)
Total net losses charged off		(112	)		(133	)		(147	)		(156	)		(181	)
Total losses		(145	)		(168	)		(177	)		(188	)		(219	)
Total recoveries		33			35			30			32			38
Total net losses charged off	($	112	)	($	133	)	($	147	)	($	156	)	($	181	)
Ratios (annualized)
Net losses charged off as a percent of average loans and leases (excluding held for sale)		0.51	%		0.63	%		0.70	%		0.75	%		0.88	%
Commercial		0.36	%		0.44	%		0.46	%		0.53	%		0.67	%
Consumer		0.73	%		0.89	%		1.01	%		1.04	%		1.15	%

Net charge-offs were $112 million in the second quarter of 2013, or 51 bps of average loans on an annualized basis, the lowest ratio since the first quarter of 2007. Net charge-offs declined 16 percent compared with first quarter 2013 net charge-offs of $133 million, and declined 39 percent versus second quarter 2012 net charge-offs of $181 million.

Commercial net charge-offs were $45 million, or 36 bps, the lowest ratio since the third quarter of 2007. Commercial net charge-offs declined $9 million compared with $54 million, or 44 bps, in the first quarter. C&I net charge-offs were $33 million, an increase of $8 million from $25 million in the previous quarter. Commercial mortgage net charge-offs totaled $10 million, down $16 million compared with $26 million in the prior quarter. Commercial construction net charge-offs were zero in the second quarter, down $3 million compared with the previous quarter.

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Consumer net charge-offs were $67 million, or 73 bps, down $12 million sequentially to the lowest ratio since the second quarter of 2007. Net charge-offs on residential mortgage loans in the portfolio were $15 million, down $5 million from the previous quarter. Home equity net charge-offs were $23 million, down $7 million from the first quarter of 2013. Net charge-offs on brokered home equity loans represented 32 percent of second quarter home equity losses; such loans are 13 percent of the total home equity portfolio. The home equity portfolio included $1.2 billion of brokered loans, down from a peak of $2.6 billion in 2007; originations of these loans were discontinued in 2007. Net charge-offs in the auto portfolio of $5 million increased $1 million compared with the prior quarter. Net charge-offs on consumer credit card loans were $19 million, down $1 million from first quarter. Net charge-offs on other consumer loans were $5 million, or flat compared with the previous quarter.

	For the Three Months Ended
	June			March			December			September			June
	2013			2013			2012			2012			2012
Allowance for Credit Losses ($ in millions)
Allowance for loan and lease losses, beginning	$	1,783		$	1,854		$	1,925		$	2,016		$	2,126
Total net losses charged off		(112	)		(133	)		(147	)		(156	)		(181	)
Provision for loan and lease losses		64			62			76			65			71
Allowance for loan and lease losses, ending		1,735			1,783			1,854			1,925			2,016
Reserve for unfunded commitments, beginning		168			179			176			178			179
Provision for unfunded commitments		(2	)		(11	)		3			(2	)		(1	)
Reserve for unfunded commitments, ending		166			168			179			176			178
Components of allowance for credit losses:
Allowance for loan and lease losses		1,735			1,783			1,854			1,925			2,016
Reserve for unfunded commitments		166			168			179			176			178
Total allowance for credit losses	$	1,901		$	1,951		$	2,033		$	2,101		$	2,194
Allowance for loan and lease losses ratio
As a percent of loans and leases		1.99	%		2.08	%		2.16	%		2.32	%		2.45	%
As a percent of nonperforming loans and leases (a)		191	%		187	%		180	%		167	%		150	%
As a percent of nonperforming assets (a)		151	%		147	%		144	%		133	%		125	%

(a) Excludes nonaccrual loans and leases in loans held for sale

Provision for loan and lease losses totaled $64 million in the second quarter of 2013, up $2 million from the first quarter of 2013 and down $7 million from the second quarter of 2012. The allowance for loan and lease losses declined $48 million sequentially reflecting continued improvement in credit trends. The allowance represented 1.99 percent of total loans and leases outstanding as of quarter end, compared with 2.08 percent last quarter, and represented 191 percent of nonperforming loans and leases, and 151 percent of nonperforming assets.

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	As of
	June			March			December			September			June
	2013			2013			2012			2012			2012
Nonperforming Assets and Delinquent Loans ($ in millions)
Nonaccrual portfolio loans and leases:
Commercial and industrial loans	$	274		$	229		$	234		$	309		$	377
Commercial mortgage loans		169			184			215			263			357
Commercial construction loans		39			66			70			76			99
Commercial leases		1			1			1			5			3
Residential mortgage loans		96			110			114			126			135
Home equity		28			28			30			29			30
Automobile loans		—			—			—			—			1
Other consumer loans and leases		—			—			1			—			—
Total nonaccrual loans and leases	$	607		$	618		$	665		$	808		$	1,002
Restructured loans and leases—commercial (nonaccrual)		140	(c)		159	(c)		177			153			147
Restructured loans and leases—consumer (nonaccrual)		162			174			187			192			193
Total nonperforming loans and leases	$	909		$	951		$	1,029		$	1,153		$	1,342
Repossessed personal property		6			7			8			10			9
Other real estate owned (a)		235			252			249			283			268
Total nonperforming assets (b)	$	1,150		$	1,210		$	1,286		$	1,446		$	1,619
Nonaccrual loans held for sale		15			16			25			38			55
Restructured loans—commercial (nonaccrual) held for sale		—			3			4			5			5
Total nonperforming assets including loans held for sale	$	1,165		$	1,229		$	1,315		$	1,489		$	1,679
Restructured Consumer loans and leases (accrual)	$	1,671		$	1,683		$	1,655		$	1,641		$	1,634
Restructured Commercial loans and leases (accrual)	$	475	(c)	$	441	(c)	$	431		$	442		$	455
Total loans and leases 90 days past due	$	152		$	164		$	195		$	201		$	203
Nonperforming loans and leases as a percent of portfolio loans, leases and other assets, including other real estate owned (b)		1.04	%		1.11	%		1.19	%		1.38	%		1.62	%
Nonperforming assets as a percent of portfolio loans, leases and other assets, including other real estate owned (b)		1.32	%		1.41	%		1.49	%		1.73	%		1.96	%

(a) Excludes government insured advances.

(b) Does not include nonaccrual loans held for sale.

(c) Excludes $21.5 million of restructured nonaccrual loans and $7.6 million of restructured accruing loans associated with a consolidated variable interest entity in which the Bancorp has no continuing credit risk.

Total nonperforming assets, including loans held-for-sale, were $1.2 billion, a decline of $64 million, or 5 percent, from the previous quarter. Nonperforming assets held-for-investment (NPAs) were $1.2 billion, or 1.32 percent, of total loans, leases and OREO, and decreased $60 million, or 5 percent, from the previous quarter. Nonperforming loans held-for-investment (NPLs) at quarter end were $909 billion or 1.04 percent of total loans, leases and OREO, and decreased $42 million, or 4 percent, from the previous quarter.

Commercial portfolio NPAs were $794 million, or 1.56 percent of commercial loans, leases and OREO, and decreased $34 million, or 4 percent, from the first quarter. Commercial portfolio NPLs were $623 million, or 1.23 percent of commercial loans and leases, and decreased $16 million from last quarter. C&I portfolio NPAs of $361 million increased $29 million from the prior quarter. Commercial mortgage portfolio NPAs were $355 million, down $54 million from the previous quarter. Commercial construction portfolio NPAs were $69 million, a decrease of $9 million from the previous quarter. Commercial real estate loans in Michigan and Florida represented 50 percent of commercial real estate NPAs and 36 percent of our total commercial real estate portfolio. Within the overall commercial loan portfolio, residential real estate builder and developer portfolio NPAs of $63 million declined $16 million from the first quarter, of which $38 million were commercial mortgage assets, $18 million were commercial construction assets and $7 million were C&I assets. Commercial portfolio NPAs included $140 million of nonaccrual troubled debt restructurings (TDRs), compared with $159 million last quarter.

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Consumer portfolio NPAs of $356 million, or 0.98 percent of consumer loans, leases and OREO, decreased $26 million from the first quarter. Consumer portfolio NPLs were $286 million, or 0.79 percent of consumer loans and leases and decreased $26 million from last quarter. Of consumer NPAs, $312 million were in residential real estate portfolios. Residential mortgage NPAs were $254 million, $21 million lower than last quarter, with Florida representing 44 percent of residential mortgage NPAs and 13 percent of total residential mortgage loans. Home equity NPAs of $57 million were down $1 million compared with last quarter. Credit card NPAs were down $3 million compared to the previous quarter at $37 million. Consumer nonaccrual TDRs were $162 million in the second quarter of 2013, compared with $174 million in the first quarter 2013.

Second quarter OREO balances included in portfolio NPA balances described above were $235 million, down $17 million from the first quarter, and included $171 million in commercial OREO and $64 million in consumer OREO. Repossessed personal property of $6 million consisted largely of autos.

Loans still accruing over 90 days past due were $152 million, down $12 million, or 7 percent, from the first quarter of 2013. Commercial balances over 90 days past due were immaterial. Consumer balances 90 days past due of $152 million were down $11 million from the previous quarter. Loans 30-89 days past due of $258 million decreased $48 million, or 16 percent, from the previous quarter. Commercial balances 30-89 days past due of $7 million were down $30 million sequentially and consumer balances 30-89 days past due of $251 million decreased $18 million from the first quarter, reflecting declines in most categories. The above delinquencies figures exclude nonaccruals described previously.

Commercial nonaccrual loans held-for-sale were $15 million, compared with $19 million at the end of the first quarter.

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Capital Position

	For the Three Months Ended
	June			March			December			September			June
	2013			2013			2012			2012			2012
Capital Position
Average shareholders’ equity to average assets		11.64	%		11.38	%		11.65	%		11.82	%		11.58	%
Tangible equity (a)		9.65	%		9.36	%		9.17	%		9.45	%		9.50	%
Tangible common equity (excluding unrealized gains/losses) (a)		8.83	%		9.03	%		8.83	%		9.10	%		9.15	%
Tangible common equity (including unrealized gains/losses) (a)		8.95	%		9.28	%		9.10	%		9.45	%		9.49	%
Tangible common equity as a percent of risk-weighted assets (excluding unrealized gains/losses) (a) (b)		9.50	%		9.77	%		9.57	%		9.74	%		9.84	%
Regulatory capital ratios: (c)
Tier I capital		11.07	%		10.83	%		10.65	%		10.85	%		12.31	%
Total risk-based capital		14.35	%		14.35	%		14.42	%		14.76	%		16.24	%
Tier I leverage		10.41	%		10.03	%		10.05	%		10.09	%		11.39	%
Tier I common equity (a)		9.44	%		9.70	%		9.51	%		9.67	%		9.77	%
Book value per share		15.57			15.42			15.10			14.84			14.56
Tangible book value per share (a)		12.71			12.62			12.33			12.12			11.89

(a) The tangible equity, tangible common equity, tier I common equity and tangible book value per share ratios, while not required by accounting principles generally accepted in the United States of America (U.S. GAAP), are considered to be critical metrics with which to analyze banks. The ratios have been included herein to facilitate a greater understanding of the Bancorp’s capital structure and financial condition. See the Regulation G Non-GAAP Reconciliation table for a reconciliation of these ratios to U.S. GAAP.

(b) Under the banking agencies risk-based capital guidelines, assets and credit equivalent amounts of derivatives and off-balance sheet exposures are assigned to broad risk categories. The aggregate dollar amount in each risk category is multiplied by the associated risk weight of the category. The resulting weighted values are added together resulting in the Bancorp’s total risk weighted assets.

(c) Current period regulatory capital data ratios are estimated.

Capital ratios remained strong, reflecting growth in retained earnings, the perpetual preferred stock issuance, and the impact of share repurchase activity during the quarter. Compared with the prior quarter, the Tier 1 common equity ratio* decreased 26 bps to 9.44 percent, and included a 48 bps reduction due to repurchases of approximately $539 million in common shares announced during the quarter. The tangible common equity to tangible assets ratio* was 8.83 percent (excluding unrealized gains/losses) and 8.95 percent (including unrealized gains/losses). The Tier 1 capital ratio increased 24 bps to 11.07 percent. The Total capital ratio was flat at 14.35 percent and the Leverage ratio increased 38 bps to 10.41 percent. The Tier 1 and Total capital ratios reflected the $593 million issuance of perpetual preferred stock during the quarter.

Book value per share at June 30, 2013 was $15.57 and tangible book value per share* was $12.71, compared with March 31, 2013 book value per share of $15.42 and tangible book value per share of $12.62. Both measures included the impact of retained earnings and share repurchase activity.

As previously announced, Fifth Third entered into a share repurchase agreement with a counterparty on January 28, 2013, whereby Fifth Third would purchase approximately $125 million of its outstanding common stock. Upon completion of the agreement on April 5, 2013, an additional 849,037 shares were repurchased. This transaction reduced average share count by approximately 2 million shares in the second quarter. Additionally, as previously announced, Fifth Third entered into a share repurchase agreement with a counterparty on May 21, 2013, whereby Fifth Third would purchase approximately $539 million of its outstanding common stock. For the quarter, this transaction reduced Fifth Third’s share count by 25 million shares on the initial transaction date, which had a 10 million share impact on average share count. Fifth Third expects the settlement of this forward contract to occur on or before October 21, 2013.

* Non-GAAP measure; see Reg. G reconciliation on page 34.

15

U.S. banking regulators recently approved final capital rules for U.S. banks, including changes to the definition of capital components (i.e. the numerator of capital ratios) and changes to risk-weighting rules for assets (i.e. the denominator of capital ratios). These final rules implement portions of rules proposed by international banking regulators known as Basel III and Basel II. Fifth Third is not a Basel “Advanced Approaches” institution. Therefore, Fifth Third would be subject to the general capital rules governing the capital or numerator portion of these final rules and the “Standardized Approach” for risk-weighting assets. Additionally, Fifth Third would have a one-time irrevocable option to neutralize certain accumulated other comprehensive income (AOCI) components in capital, comparable to treatment under prevailing capital rules. Fifth Third will also be subject to the Market Risk Rule for trading assets and liabilities, which has been re-proposed for alignment with the other final capital rules. We continue to evaluate the final rule and its impact, which would apply beginning reporting periods after January 1, 2015.

Our current estimate of the pro-forma fully phased in Tier I common equity ratio at June 30, 2013 under the final capital rule, assuming the Company elected to maintain the current treatment of AOCI components in capital, would be approximately 9.10 percent**. This would compare with 9.44 percent* as calculated under the currently prevailing Basel I capital framework. The primary drivers of the change from the prevailing capital framework to the Basel III framework would be an increase in Tier I common equity of approximately 9 bps, which would be more than offset by modestly higher risk-weighted assets. (The largest impact to the numerator is that the new rules would not require the current 10 percent deduction of mortgage servicing rights assets; the largest changes to the denominator would be the treatment of securitizations and lending commitments of less than a year.) Fifth Third’s previous estimates of its pro forma Basel III Tier 1 common equity ratio assumed, as previously proposed, the inclusion of AOCI components in capital and the proposed risk-weighting treatment for 1-4 family senior and junior lien residential mortgages. Those factors would have caused the most significant pro forma impacts to previously proposed regulatory common equity ratios. Should Fifth Third make the election to include AOCI components in capital, the June 30, 2013 pro forma Basel III Tier 1 common ratio would be increased by approximately 13 bps. Fifth Third’s pro forma Tier 1 common equity ratio exceeds the minimum buffered Tier 1 common equity ratio of 7 percent, comprising a minimum of 4.5 percent plus a capital conservation buffer of 2.5 percent. The pro forma Tier 1 common equity ratio does not include the effect of any mitigating actions the Bancorp may undertake to offset any impact of the final capital rules.

The new regulations approved by U.S. banking regulators also cease Tier 1 capital treatment for outstanding trust preferred securities (“TruPS”) for banking organizations greater than $15 billion by January 1, 2016. Fifth Third’s Tier 1 and Total capital levels at June 30, 2013 included $810 million of TruPS, or 72 bps of risk weighted assets. Based on regulatory developments, Fifth Third will continue to evaluate the role of these types of securities in its capital structure. Fifth Third included the potential redemption of $750 million in TruPS in its 2013 CCAR plan. To the extent these types of securities remain outstanding during and after the phase-in period, they would continue to be included in Total capital, as approved in the capital rules described above. We expect to manage our capital structure over time – including the components represented by common equity and non-common equity – to adapt to and reflect the effect of changes in U.S. bank capital regulations, transition periods for inclusion of capital components in capital, regulatory expectations, and our goals for capital levels and capital composition, as appropriate.

* Non-GAAP measure; see Reg. G reconciliation on page 34.

** Capital ratios estimated; presented under current U.S. capital regulations. The pro forma Basel III Tier I common equity ratio is management’s estimate based upon its current interpretation of recent prospective regulatory capital requirements approved in July 2013.

16

Fifth Third is subject to the Federal Reserve’s (FRB) Capital Plans Rule which was issued November 9, 2012. Under this rule, we are required to submit our annual capital plan to the Federal Reserve, for its objection or non-objection. The plan includes those capital actions Fifth Third intends to pursue or contemplate during the period covered by the FRB’s response, which is the second quarter of 2013 through the first quarter of 2014. These actions were more fully described in our March 14, 2013 announcement that the FRB did not object to Fifth Third’s 2013 CCAR capital plan. Any such actions would be based on environmental and market conditions, earnings results, our capital position, and other factors, as well as approval by the Fifth Third Board of Directors, at the time.

Pursuant to Fifth Third’s 2013 CCAR capital plan, Fifth Third issued $593 million of 5.10 percent fixed-to-floating non-cumulative perpetual preferred stock (Series H preferred stock) on May 16, 2013. Additionally, pursuant to its capital plan, on June 11, 2013, Fifth Third provided notice that its Board of Directors had authorized the conversion of all $398 million in outstanding Depositary Shares representing Series G 8.5 percent convertible preferred stock into approximately 35.5 million common shares issued to the holders. (Note that these securities have been accounted for under the “if-converted” method for inclusion in common shares for diluted earnings per share reporting purposes.) Effective as of the close of the market on July 1, 2013, after the close of the second quarter of 2013, Fifth Third converted all remaining outstanding shares of Series G Preferred Stock, represented by 4,110,500 Depositary Shares, into shares of Fifth Third’s Common Stock. Each Depositary Share was convertible into 8.6393 shares of Common Stock, and the aggregate number of shares of Common Stock issued in this conversion was 35,511,740.

Tax Rate

The effective tax rate was 29.8 percent this quarter compared with 30.4 percent in the first quarter. The higher first quarter tax rate included the seasonal impact of the expiration of employee stock options.

Other

Fifth Third Bank owns 53.8 million units representing a 28 percent interest in Vantiv Holding, LLC, convertible into shares of Vantiv, Inc., a publicly traded firm (NYSE: VNTV). Based upon Vantiv’s closing price of $27.60 on June 28, 2013, our interest in Vantiv was valued at approximately $1.5 billion. Next month in our 10-Q, we will update our disclosure of the carrying value of our interest in Vantiv stock, which was $574 million as of March 31, 2013. The difference between the market value and the book value of Fifth Third’s interest in Vantiv’s shares is not recognized in Fifth Third’s equity or capital. Additionally, Fifth Third has a warrant to purchase additional shares in Vantiv which is carried as a derivative asset at a fair value of $287 million as of June 30, 2013.

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 by Thomson Financial and may be accessed through the Fifth Third Investor Relations website atwww.53.com (click on “About Fifth Third” then “Investor Relations”). The webcast also is being distributed over Thomson Financial’s Investor Distribution Network to both institutional and individual investors. Individual investors can listen to the call through Thomson Financial’s individual investor center atwww.earnings.com or by visiting any of the investor sites in Thomson Financial’s Individual Investor Network. Institutional investors can access the call via Thomson Financial’s password-protected event management site, StreetEvents (www.streetevents.com).

17

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 beginning approximately two hours after the conference call until Thursday, August 1 by dialing 800-585-8367 for domestic access and 404-537-3406 for international access (passcode 88820035#).

Corporate Profile

Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio. As of June 30, 2013, the Company had $123 billion in assets and operated 18 affiliates with 1,326 full-service Banking Centers, including 104 Bank Mart^® locations open seven days a week inside select grocery stores and 2,433 ATMs in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Pennsylvania, Missouri, Georgia and North Carolina. Fifth Third operates four main businesses: Commercial Banking, Branch Banking, Consumer Lending, and Investment Advisors. Fifth Third also has a 28% interest in Vantiv Holding, LLC. Fifth Third is among the largest money managers in the Midwest and, as of June 30, 2013, had $313 billion in assets under care, of which it managed $27 billion for individuals, corporations and not-for-profit organizations.Investor information andpress releases can be viewed atwww.53.com. Fifth Third’s common stock is traded on the NASDAQ^® National Global Select Market under the symbol “FITB.”

Forward-Looking Statements

This news 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,” “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. 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.

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) general economic conditions and weakening in the economy, specifically the real estate market, either nationally or in the states in which Fifth Third, one or more acquired entities and/or the combined company do business, are less favorable than expected; (2) deteriorating credit quality; (3) political developments, wars or other hostilities may disrupt or increase volatility in securities markets or other economic conditions; (4) changes in the interest rate environment reduce interest margins; (5) prepayment speeds, loan origination and sale volumes, charge-offs and loan loss provisions; (6) Fifth Third’s ability to maintain required capital levels and adequate sources of funding and liquidity; (7) maintaining capital requirements may limit Fifth Third’s operations and potential growth; (8) changes and trends in capital markets; (9) problems encountered by larger or similar financial institutions may adversely affect the banking industry and/or Fifth Third; (10) competitive pressures among depository institutions increase significantly; (11) effects of critical accounting policies and judgments; (12) changes in accounting policies or procedures as may be required by the Financial Accounting Standards Board (FASB) or other regulatory agencies; (13) legislative or regulatory changes or actions, or significant litigation, adversely affect Fifth Third, one or more acquired entities and/or the combined company or the businesses in which Fifth Third, one or more acquired entities and/or the combined company are engaged, including the Dodd-Frank Wall Street Reform and Consumer Protection Act; (14) ability to maintain favorable ratings from rating agencies; (15) fluctuation of Fifth Third’s stock price; (16) ability to attract and retain key personnel; (17) ability to receive dividends from its subsidiaries; (18) potentially dilutive effect of future acquisitions on current shareholders’ ownership of Fifth Third; (19) effects of accounting or financial results of one or more acquired entities; (20) difficulties from the separation of or the results of operations of Vantiv, LLC; (21) loss of income from any sale or potential sale of businesses that could have an adverse effect on Fifth Third’s earnings and future growth; (22) ability to secure confidential information and deliver products and services through the use of computer systems and telecommunications networks; and (23) the impact of reputational risk created by these 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.

# # #

18

Quarterly Financial Review for June 30, 2013

Table of Contents

Financial Highlights	20-21
Consolidated Statements of Income	22
Consolidated Statements of Income (Taxable Equivalent)	23
Consolidated Balance Sheets	24-25
Consolidated Statements of Changes in Equity	26
Average Balance Sheet and Yield Analysis	27-29
Summary of Loans and Leases	30
Regulatory Capital	31
Summary of Credit Loss Experience	32
Asset Quality	33
Regulation G Non-GAAP Reconciliation	34
Segment Presentation	35

19

Fifth Third Bancorp and Subsidiaries

Financial Highlights

$ in millions, except per share data

(unaudited)

	For the Three Months Ended									% Change						Year to Date						% Change
	June 2013			March 2013			June 2012			Seq			Yr/Yr			June 2013			June 2012			Yr/Yr
Income Statement Data
Net interest income (a)	$	885		$	893		$	899			(1	%)		(2	%)	$	1,777		$	1,802			(1	%)
Noninterest income		1,060			743			678			43	%		56	%		1,803			1,448			25	%
Total revenue (a)		1,945			1,636			1,577			19	%		23	%		3,580			3,250			10	%
Provision for loan and lease losses		64			62			71			2	%		(11	%)		126			162			(22	%)
Noninterest expense		1,017			978			937			4	%		9	%		1,996			1,911			4	%
Net income attributable to Bancorp		603			422			385			43	%		57	%		1,024			815			26	%
Net income available to common shareholders		594			413			376			44	%		58	%		1,006			797			26	%
Common Share Data
Earnings per share, basic	$	0.69		$	0.47		$	0.41			47	%		68	%	$	1.16		$	0.87			33	%
Earnings per share, diluted		0.66			0.46			0.40			43	%		65	%		1.12			0.85			32	%
Cash dividends per common share		0.12			0.11			0.08			9	%		50	%		0.23			0.16			44	%
Book value per share		15.57			15.42			14.56			1	%		7	%		15.57			14.56			7	%
Market price per share		18.05			16.31			13.40			11	%		35	%		18.05			13.40			35	%
Common shares outstanding (in thousands)		851,474			874,645			918,913			(3	%)		(7	%)		851,474			918,913			(7	%)
Average common shares outstanding (in thousands):
Basic		858,583			870,923			913,541			(1	%)		(6	%)		864,719			914,383			(5	%)
Diluted		900,625			913,163			954,622			(1	%)		(6	%)		906,860			956,016			(5	%)
Market capitalization	$	15,369		$	14,265		$	12,313			8	%		25	%	$	15,369		$	12,313			25	%
Financial Ratios
Return on assets		1.98	%		1.41	%		1.32	%		40	%		50	%		1.70	%		1.40	%		21	%
Return on average common equity		17.6	%		12.5	%		11.4	%		41	%		54	%		15.1	%		12.2	%		23	%
Return on average tangible common equity (b)		21.6	%		15.4	%		14.1	%		40	%		53	%		18.5	%		15.2	%		22	%
Noninterest income as a percent of total revenue		55	%		45	%		43	%		20	%		27	%		51	%		45	%		13	%
Average equity as a percent of average assets		11.64	%		11.38	%		11.58	%		2	%		—			11.51	%		11.54	%		—
Tangible common equity (c)(d)		8.83	%		9.03	%		9.15	%		(2	%)		(4	%)		8.83	%		9.15	%		(4	%)
Net interest margin (a)		3.33	%		3.42	%		3.56	%		(3	%)		(6	%)		3.38	%		3.59	%		(6	%)
Efficiency (a)		52.3	%		59.8	%		59.4	%		(12	%)		(12	%)		55.5	%		58.8	%		(6	%)
Effective tax rate		29.8	%		30.4	%		31.8	%		(2	%)		(6	%)		30.1	%		30.2	%		—
Credit Quality
Net losses charged off	$	112		$	133		$	181			(16	%)		(39	%)	$	245		$	401			(39	%)
Net losses charged off as a percent of average loans and leases		0.51	%		0.63	%		0.88	%		(18	%)		(42	%)		0.57	%		0.98	%		(42	%)
Allowance for loan and lease losses as a percent of loans and leases		1.99	%		2.08	%		2.45	%		(4	%)		(19	%)		1.99	%		2.45	%		(19	%)
Allowance for credit losses as a percent of loans and leases		2.18	%		2.28	%		2.66	%		(4	%)		(18	%)		2.18	%		2.66	%		(18	%)
Nonperforming assets as a percent of loans, leases and other assets, including other real estate owned (e)		1.32	%		1.41	%		1.96	%		(6	%)		(33	%)		1.32	%		1.96	%		(33	%)
Average Balances
Loans and leases, including held for sale	$	89,473		$	88,880		$	84,508			1	%		6	%	$	89,179		$	84,132			6	%
Total securities and other short-term investments		16,962			16,846			17,168			1	%		(1	%)		16,904			16,952			—
Total assets		122,212			121,117			117,654			1	%		4	%		121,668			116,989			4	%
Transaction deposits (f)		81,678			80,938			77,621			1	%		5	%		81,311			77,378			5	%
Core deposits (g)		85,537			84,920			81,980			1	%		4	%		85,231			81,833			4	%
Wholesale funding (h)		17,508			17,683			17,533			(1	%)		—			17,595			17,065			3	%
Bancorp shareholders’ equity		14,221			13,779			13,628			3	%		4	%		14,001			13,497			4	%
Regulatory Capital Ratios(i)
Tier I capital		11.07	%		10.83	%		12.31	%		2	%		(10	%)		11.07	%		12.31	%		(10	%)
Total risk-based capital		14.35	%		14.35	%		16.24	%		—			(12	%)		14.35	%		16.24	%		(12	%)
Tier I leverage		10.41	%		10.03	%		11.39	%		4	%		(9	%)		10.41	%		11.39	%		(9	%)
Tier I common equity (d)		9.44	%		9.70	%		9.77	%		(3	%)		(3	%)		9.44	%		9.77	%		(3	%)
Operations
Banking centers		1,326			1,320			1,322			—			—			1,326			1,322			—
ATMs		2,433			2,426			2,409			—			1	%		2,433			2,409			1	%
Full-time equivalent employees		20,569			20,744			20,888			(1	%)		(2	%)		20,569			20,888			(2	%)

(a) Presented on a fully taxable equivalent basis.

(b) The return on average tangible common equity is calculated as tangible net income available to common shareholders excluding tax effected amortization of intangibles) divided by average tangible common equity, (average common equity less goodwill and intangible assets).

(c) The tangible common equity ratio is calculated as tangible common equity (shareholders’ equity less preferred stock, goodwill, intangible assets and accumulated other comprehensive income divided by tangible assets (total assets less goodwill, intangible assets and accumulated other comprehensive income).

(d) The tangible common equity and tier I common equity ratios, while not required by U.S. GAAP, are considered to be important metrics with which to analyze a bank’s position. The ratios have been included herein to facilitate a greater understanding of the Bancorp’s capital structure and financial condition.

(e) Excludes nonaccrual loans held for sale.

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

(g) Includes transaction deposits plus other time deposits.

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

(i) Current period regulatory capital ratios are estimates.

20

Fifth Third Bancorp and Subsidiaries

Financial Highlights

$ in millions, except per share data

(unaudited)

	For the Three Months Ended
	June 2013			March 2013			December 2012			September 2012			June 2012
Income Statement Data
Net interest income (a)	$	885		$	893		$	903		$	907		$	899
Noninterest income		1,060			743			880			671			678
Total revenue (a)		1,945			1,636			1,783			1,578			1,577
Provision for loan and lease losses		64			62			76			65			71
Noninterest expense		1,017			978			1,163			1,006			937
Net income attributable to Bancorp		603			422			399			363			385
Net income available to common shareholders		594			413			390			354			376
Common Share Data
Earnings per share, basic	$	0.69		$	0.47		$	0.44		$	0.39		$	0.41
Earnings per share, diluted		0.66			0.46			0.43			0.38			0.40
Cash dividends per common share		0.12			0.11			0.10			0.10			0.08
Book value per share		15.57			15.42			15.10			14.84			14.56
Market price per share		18.05			16.31			15.20			15.51			13.40
Common shares outstanding (in thousands)		851,474			874,645			882,152			897,467			918,913
Average common shares outstanding (in thousands):
Basic		858,583			870,923			884,676			904,475			913,541
Diluted		900,625			913,163			925,585			944,821			954,622
Market capitalization	$	15,369		$	14,265		$	13,409		$	13,920		$	12,313
Financial Ratios
Return on assets		1.98	%		1.41	%		1.33	%		1.23	%		1.32	%
Return on average common equity		17.6	%		12.5	%		11.5	%		10.4	%		11.4	%
Return on average tangible common equity (b)		21.6	%		15.4	%		14.1	%		12.8	%		14.1	%
Noninterest income as a percent of total revenue		55	%		45	%		49	%		43	%		43	%
Average equity as a percent of average assets		11.64	%		11.38	%		11.65	%		11.82	%		11.58	%
Tangible common equity (c) (d)		8.83	%		9.03	%		8.83	%		9.10	%		9.15	%
Net interest margin (a)		3.33	%		3.42	%		3.49	%		3.56	%		3.56	%
Efficiency (a)		52.3	%		59.8	%		65.2	%		63.7	%		59.4	%
Effective tax rate		29.8	%		30.4	%		26.8	%		27.7	%		31.8	%
Credit Quality
Net losses charged off	$	112		$	133		$	147		$	156		$	181
Net losses charged off as a percent of average loans and leases		0.51	%		0.63	%		0.70	%		0.75	%		0.88	%
Allowance for loan and lease losses as a percent of loans and leases		1.99	%		2.08	%		2.16	%		2.32	%		2.45	%
Allowance for credit losses as a percent of loans and leases		2.18	%		2.28	%		2.37	%		2.53	%		2.66	%
Nonperforming assets as a percent of loans, leases and other assets, including other real estate owned (e)		1.32	%		1.41	%		1.49	%		1.73	%		1.96	%
Average Balances
Loans and leases, including held for sale	$	89,473		$	88,880		$	86,180		$	84,829		$	84,508
Total securities and other short-term investments		16,962			16,846			16,765			16,588			17,168
Total assets		122,212			121,117			118,943			117,521			117,654
Transaction deposits (f)		81,678			80,938			80,195			77,498			77,621
Core deposits (g)		85,537			84,920			84,289			81,722			81,980
Wholesale funding (h)		17,508			17,683			16,354			17,431			17,533
Bancorp shareholders’ equity		14,221			13,779			13,855			13,887			13,628
Regulatory Capital Ratios(i)
Tier I capital		11.07	%		10.83	%		10.65	%		10.85	%		12.31	%
Total risk-based capital		14.35	%		14.35	%		14.42	%		14.76	%		16.24	%
Tier I leverage		10.41	%		10.03	%		10.05	%		10.09	%		11.39	%
Tier I common equity (d)		9.44	%		9.70	%		9.51	%		9.67	%		9.77	%
Operations
Banking centers		1,326			1,320			1,325			1,320			1,322
ATMs		2,433			2,426			2,415			2,404			2,409
Full-time equivalent employees		20,569			20,744			20,798			20,789			20,888

(a) Presented on a fully taxable equivalent basis.

(b) The return on average tangible common equity is calculated as tangible net income available to common shareholders excluding tax effected amortization of intangibles) divided by average tangible common equity, (average common equity less goodwill and intangible assets).

(c) The tangible common equity ratio is calculated as tangible common equity (shareholders’ equity less preferred stock, goodwill, intangible assets and accumulated other comprehensive income divided by tangible assets (total assets less goodwill, intangible assets and accumulated other comprehensive income).

(d) The tangible common equity and tier I common equity ratios, while not required by U.S. GAAP, are considered to be important metrics with which to analyze a bank’s position. The ratios have been included herein to facilitate a greater understanding of the Bancorp’s capital structure and financial condition.

(e) Excludes nonaccrual loans held for sale.

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

(g) Includes transaction deposits plus other time deposits.

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

(i) Current period regulatory capital ratios are estimates.

21

Fifth Third Bancorp and Subsidiaries

Consolidated Statements of Income

$ in millions

(unaudited)

	For the Three Months Ended							% Change						Year to Date						% Change
	June 2013		March 2013			June 2012		Seq			Yr/Yr			June 2013			June 2012			Yr/Yr
Interest Income
Interest and fees on loans and leases	$	864	$	882		$	891		(2	%)		(3	%)		1,746			1,789			(2	%)
Interest on securities		119		112			135		6	%		(12	%)		231			276			(16	%)
Interest on other short-term investments		1		1			1		(5	%)		2	%		2			2			9	%
Total interest income		984		995			1,027		(1	%)		(4	%)		1,979			2,067			(4	%)
Interest Expense
Interest on deposits		53		50			55		5	%		(5	%)		103			114			(9	%)
Interest on short-term borrowings		1		3			2		(46	%)		(29	%)		4			3			31	%
Interest on long-term debt		50		54			75		(8	%)		(33	%)		104			157			(34	%)
Total interest expense		104		107			132		(3	%)		(21	%)		211			274			(23	%)
Net Interest Income		880		888			895		(1	%)		(2	%)		1,768			1,793			(1	%)
Provision for loan and lease losses		64		62			71		2	%		(11	%)		126			162			(22	%)
Net interest income after provision for loan and lease losses		816		826			824		(1	%)		(1	%)		1,642			1,631			1	%
Noninterest Income
Service charges on deposits		136		131			130		4	%		4	%		267			260			3	%
Corporate banking revenue		106		99			102		7	%		4	%		205			199			3	%
Mortgage banking net revenue		233		220			183		6	%		28	%		453			387			17	%
Investment advisory revenue		98		100			93		(2	%)		6	%		198			190			5	%
Card and processing revenue		67		65			64		4	%		6	%		132			122			8	%
Other noninterest income		414		109			103		NM			NM			523			279			88	%
Securities gains, net		—		17			3		(99	%)		(96	%)		17			11			48	%
Securities gains, net—non-qualifying hedges on mortgage servicing rights		6		2			—		NM			NM			8			—	��		NM
Total noninterest income		1,060		743			678		43	%		56	%		1,803			1,448			25	%
Noninterest Expense
Salaries, wages and incentives		404		399			393		1	%		3	%		803			792			1	%
Employee benefits		83		114			84		(27	%)		(1	%)		197			195			1	%
Net occupancy expense		76		79			74		(3	%)		4	%		155			151			3	%
Technology and communications		50		49			48		—			3	%		99			95			4	%
Equipment expense		28		28			27		(1	%)		1	%		56			55			2	%
Card and processing expense		33		31			30		6	%		10	%		65			60			8	%
Other noninterest expense		343		278			281		23	%		22	%		621			563			10	%
Total noninterest expense		1,017		978			937		4	%		9	%		1,996			1,911			4	%
Income before income taxes		859		591			565		45	%		52	%		1,449			1,168			24	%
Applicable income taxes		256		179			180		42	%		42	%		435			352			24	%
Net Income		603		412			385		46	%		56	%		1,014			816			24	%
Less: Net income attributable to noncontrolling interest		—		(10	)		—		NM			10	%		(10	)		1			NM
Net income attributable to Bancorp		603		422			385		43	%		57	%		1,024			815			26	%
Dividends on preferred stock		9		9			9		2	%		2	%		18			18			1	%
Net income available to common shareholders	$	594	$	413		$	376		44	%		58	%		1,006			797			26	%

22

Fifth Third Bancorp and Subsidiaries

Consolidated Statements of Income (Taxable Equivalent)

$ in millions

(unaudited)

	For the Three Months Ended
	June		March			December			September		June
	2013		2013			2012			2012		2012
Interest Income
Interest and fees on loans and leases	$	864	$	882		$	891		$	893	$	891
Interest on securities		119		112			124			129		135
Interest on other short-term investments		1		1			1			1		1
Total interest income		984		995			1,016			1,023		1,027
Taxable equivalent adjustment		5		5			4			4		4
Total interest income (taxable equivalent)		989		1,000			1,020			1,027		1,031
Interest Expense
Interest on deposits		53		50			51			52		55
Interest on short-term borrowings		1		3			3			3		2
Interest on long-term debt		50		54			63			65		75
Total interest expense		104		107			117			120		132
Net Interest Income (taxable equivalent)		885		893			903			907		899
Provision for loan and lease losses		64		62			76			65		71
Net interest income (taxable equivalent) after provision for loan and lease losses		821		831			827			842		828
Noninterest Income
Service charges on deposits		136		131			134			128		130
Corporate banking revenue		106		99			114			101		102
Mortgage banking net revenue		233		220			258			200		183
Investment advisory revenue		98		100			93			92		93
Card and processing revenue		67		65			66			65		64
Other noninterest income		414		109			215			78		103
Securities gains, net		—		17			2			2		3
Securities gains, net—non-qualifying hedges on mortgage servicing rights		6		2			(2	)		5		—
Total noninterest income		1,060		743			880			671		678
Noninterest Expense
Salaries, wages and incentives		404		399			416			399		393
Employee benefits		83		114			96			79		84
Net occupancy expense		76		79			76			76		74
Technology and communications		50		49			52			49		48
Equipment expense		28		28			27			28		27
Card and processing expense		33		31			31			30		30
Other noninterest expense		343		278			465			345		281
Total noninterest expense		1,017		978			1,163			1,006		937
Income before income taxes (taxable equivalent)		864		596			544			507		569
Taxable equivalent adjustment		5		5			4			4		4
Income before income taxes		859		591			540			503		565
Applicable income taxes		256		179			144			139		180
Net Income		603		412			396			364		385
Less: Net Income attributable to noncontrolling interests		—		(10	)		(3	)		1		—
Net income attributable to Bancorp		603		422			399			363		385
Dividends on preferred stock		9		9			9			9		9
Net income available to common shareholders	$	594	$	413		$	390		$	354	$	376

23

Fifth Third Bancorp and Subsidiaries

Consolidated Balance Sheets

$ in millions, except per share data

(unaudited)

	As of									% Change
	June 2013			March 2013			June 2012			Seq			Yr/Yr
Assets
Cash and due from banks	$	2,390		$	2,186		$	2,393			9	%		—
Available-for-sale and other securities (a)		16,187			15,263			15,552			6	%		4	%
Held-to-maturity securities (b)		274			283			305			(3	%)		(10	%)
Trading securities		219			218			200			1	%		10	%
Other short-term investments		1,109			2,286			1,964			(51	%)		(44	%)
Loans held for sale		2,148			2,691			1,863			(20	%)		15	%
Portfolio loans and leases:
Commercial and industrial loans		37,856			36,757			32,612			3	%		16	%
Commercial mortgage loans		8,443			8,766			9,662			(4	%)		(13	%)
Commercial construction loans		754			694			822			9	%		(8	%)
Commercial leases		3,567			3,568			3,467			—			3	%
Residential mortgage loans		12,400			12,091			11,429			3	%		8	%
Home equity		9,531			9,727			10,377			(2	%)		(8	%)
Automobile loans		12,015			11,741			11,739			2	%		2	%
Credit card		2,114			2,043			1,943			3	%		9	%
Other consumer loans and leases		352			289			308			22	%		15	%
Portfolio loans and leases		87,032			85,676			82,359			2	%		6	%
Allowance for loan and lease losses		(1,735	)		(1,783	)		(2,016	)		(3	%)		(14	%)
Portfolio loans and leases, net		85,297			83,893			80,343			2	%		6	%
Bank premises and equipment		2,540			2,540			2,506			—			1	%
Operating lease equipment		645			598			511			8	%		26	%
Goodwill		2,416			2,416			2,417			—			—
Intangible assets		23			25			33			(9	%)		(29	%)
Servicing rights		899			772			736			16	%		22	%
Other assets		9,213			8,211			8,720			12	%		6	%
Total assets	$	123,360		$	121,382		$	117,543			2	%		5	%
Liabilities
Deposits:
Demand	$	30,097		$	30,027		$	26,251			—			15	%
Interest checking		22,878			23,175			23,197			(1	%)		(1	%)
Savings		18,448			19,339			22,011			(5	%)		(16	%)
Money market		9,247			8,613			4,223			7	%		NM
Foreign office		1,570			1,089			1,265			44	%		24	%
Other time		3,793			3,909			4,261			(3	%)		(11	%)
Certificates—$100,000 and over		7,374			5,472			3,065			35	%		NM
Other		47			—			—			NM			NM
Total deposits		93,454			91,624			84,273			2	%		11	%
Federal funds purchased		636			386			641			65	%		(1	%)
Other short-term borrowings		2,112			2,439			4,613			(13	%)		(54	%)
Accrued taxes, interest and expenses		1,625			1,599			1,491			2	%		9	%
Other liabilities		4,304			3,094			3,016			39	%		43	%
Long-term debt		6,940			8,320			9,685			(17	%)		(28	%)
Total liabilities		109,071			107,462			103,719			1	%		5	%
Equity
Common stock (c)		2,051			2,051			2,051			—			—
Preferred stock		991			398			398			NM			NM
Capital surplus		2,689			2,782			2,752			(3	%)		(2	%)
Retained earnings		9,573			9,084			8,201			5	%		17	%
Accumulated other comprehensive income		149			333			454			(55	%)		(67	%)
Treasury stock		(1,202	)		(766	)		(83	)		57	%		NM
Total Bancorp shareholders’ equity		14,251			13,882			13,773			3	%		3	%
Noncontrolling interests		38			38			51			1	%		(24	%)
Total Equity		14,289			13,920			13,824			3	%		3	%
Total liabilities and equity	$	123,360		$	121,382		$	117,543			2	%		5	%
(a) Amortized cost	$	15,793		$	14,652		$	14,818			8	%		7	%
(b) Market values		274			283			305			(3	%)		(10	%)
(c) Common shares, stated value $2.22 per share (in thousands):
Authorized		2,000,000			2,000,000			2,000,000			—			—
Outstanding, excluding treasury		851,474			874,645			918,913			(3	%)		(7	%)
Treasury		72,419			49,248			4,979			47	%		NM

24

Fifth Third Bancorp and Subsidiaries

Consolidated Balance Sheets

$ in millions, except per share data

(unaudited)

	As of
	June 2013			March 2013			December 2012			September 2012			June 2012
Assets
Cash and due from banks	$	2,390		$	2,186		$	2,441		$	2,490		$	2,393
Available-for-sale and other securities (a)		16,187			15,263			15,207			15,402			15,552
Held-to-maturity securities (b)		274			283			284			287			305
Trading securities		219			218			207			205			200
Other short-term investments		1,109			2,286			2,421			1,286			1,964
Loans held for sale		2,148			2,691			2,939			1,802			1,863
Portfolio loans and leases:
Commercial and industrial loans		37,856			36,757			36,038			33,344			32,612
Commercial mortgage loans		8,443			8,766			9,103			9,348			9,662
Commercial construction loans		754			694			698			672			822
Commercial leases		3,567			3,568			3,549			3,549			3,467
Residential mortgage loans		12,400			12,091			12,017			11,708			11,429
Home equity		9,531			9,727			10,018			10,238			10,377
Automobile loans		12,015			11,741			11,972			11,912			11,739
Credit card		2,114			2,043			2,097			1,994			1,943
Other consumer loans and leases		352			289			290			294			308
Portfolio loans and leases		87,032			85,676			85,782			83,059			82,359
Allowance for loan and lease losses		(1,735	)		(1,783	)		(1,854	)		(1,925	)		(2,016	)
Portfolio loans and leases, net		85,297			83,893			83,928			81,134			80,343
Bank premises and equipment		2,540			2,540			2,542			2,520			2,506
Operating lease equipment		645			598			581			542			511
Goodwill		2,416			2,416			2,416			2,417			2,417
Intangible assets		23			25			27			30			33
Servicing rights		899			772			697			679			736
Other assets		9,213			8,211			8,204			8,689			8,720
Total assets	$	123,360		$	121,382		$	121,894		$	117,483		$	117,543
Liabilities
Deposits:
Demand	$	30,097		$	30,027		$	30,023		$	27,606		$	26,251
Interest checking		22,878			23,175			24,477			22,891			23,197
Savings		18,448			19,339			19,879			20,624			22,011
Money market		9,247			8,613			6,875			5,285			4,223
Foreign office		1,570			1,089			885			1,059			1,265
Other time		3,793			3,909			4,015			4,167			4,261
Certificates—$100,000 and over		7,374			5,472			3,284			2,978			3,065
Other		47			—			79			78			—
Total deposits		93,454			91,624			89,517			84,688			84,273
Federal funds purchased		636			386			901			686			641
Other short-term borrowings		2,112			2,439			6,280			5,503			4,613
Accrued taxes, interest and expenses		1,625			1,599			1,708			1,588			1,491
Other liabilities		4,304			3,094			2,639			3,122			3,016
Long-term debt		6,940			8,320			7,085			8,127			9,685
Total liabilities		109,071			107,462			108,130			103,714			103,719
Equity
Common stock (c)		2,051			2,051			2,051			2,051			2,051
Preferred stock		991			398			398			398			398
Capital surplus		2,689			2,782			2,758			2,733			2,752
Retained earnings		9,573			9,084			8,768			8,466			8,201
Accumulated other comprehensive income		149			333			375			468			454
Treasury stock		(1,202	)		(766	)		(634	)		(398	)		(83	)
Total Bancorp shareholders’ equity		14,251			13,882			13,716			13,718			13,773
Noncontrolling interests		38			38			48			51			51
Total Equity		14,289			13,920			13,764			13,769			13,824
Total liabilities and equity	$	123,360		$	121,382		$	121,894		$	117,483		$	117,543
(a) Amortized cost	$	15,793		$	14,652		$	14,571		$	14,641		$	14,818
(b) Market values		274			283			284			287			305
(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		851,474			874,645			882,152			897,467			918,913
Treasury		72,419			49,248			41,741			26,425			4,979

25

Fifth Third Bancorp and Subsidiaries

Consolidated Statements of Changes in Equity

$ in millions

(unaudited)

	For the Three Months Ended						For the Six Months Ended
	June 2013			June 2012			June 2013			June 2012
Total equity, beginning	$	13,920		$	13,610		$	13,764		$	13,251
Net income attributable to Bancorp		603			385			1,024			815
Other comprehensive income, net of tax:
Change in unrealized gains and (losses):
Available-for-sale securities		(178	)		(12	)		(209	)		(9	)
Qualifying cash flow hedges		(8	)		(4	)		(21	)		(11	)
Change in accumulated other comprehensive income related to employee benefit plans		2			2			4			4
Comprehensive income		419			371			798			799
Cash dividends declared:
Common stock		(102	)		(74	)		(198	)		(148	)
Preferred stock		(9	)		(9	)		(18	)		(18	)
Stock-based awards exercised, including treasury shares issued		(16	)		(18	)		(16	)		(15	)
Stock-based compensation expense		23			19			41			30
Shares acquired for treasury		(539	)		(75	)		(664	)		(75	)
Issuance of preferred stock		593			—			593			—
Noncontrolling interest		—			—			(10	)		—
Other		—			—			(1	)		—
Total equity, ending	$	14,289		$	13,824		$	14,289		$	13,824

26

Fifth Third Bancorp and Subsidiaries

Average Balance Sheet and Yield Analysis

$ in millions, except share data

(unaudited)

	For the Three Months Ended									% Change
	June 2013			March 2013			June 2012			Seq			Yr/Yr
Assets
Interest-earning assets:
Commercial and industrial loans	$	37,636		$	36,423		$	32,770			3	%		15	%
Commercial mortgage loans		8,627			8,978			9,873			(4	%)		(12	%)
Commercial construction loans		717			700			886			3	%		(18	%)
Commercial leases		3,553			3,557			3,471			—			2	%
Residential mortgage loans		14,984			14,866			13,059			1	%		15	%
Home equity		9,625			9,872			10,430			(2	%)		(8	%)
Automobile loans		11,887			12,096			11,755			(1	%)		1	%
Credit card		2,071			2,069			1,915			—			8	%
Other consumer loans and leases		373			319			349			20	%		8	%
Taxable securities		15,346			15,224			15,548			1	%		(1	%)
Tax exempt securities		55			51			62			8	%		(12	%)
Other short-term investments		1,561			1,571			1,558			(1	%)		—
Total interest-earning assets		106,435			105,726			101,676			1	%		5	%
Cash and due from banks		2,359			2,225			2,264			6	%		4	%
Other assets		15,198			15,016			15,835			1	%		(4	%)
Allowance for loan and lease losses		(1,780	)		(1,850	)		(2,121	)		(4	%)		(16	%)
Total assets	$	122,212		$	121,117		$	117,654			1	%		4	%
Liabilities
Interest-bearing liabilities:
Interest checking	$	22,796		$	23,763		$	23,548			(4	%)		(3	%)
Savings		18,864			19,576			22,143			(4	%)		(15	%)
Money market		8,918			7,932			4,258			12	%		NM
Foreign office		1,418			1,102			1,321			29	%		7	%
Other time		3,859			3,982			4,359			(3	%)		(11	%)
Certificates—$100,000 and over		6,519			4,017			3,130			62	%		NM
Other		10			40			23			(74	%)		(55	%)
Federal funds purchased		560			691			408			(19	%)		37	%
Other short-term borrowings		2,867			5,429			4,303			(47	%)		(33	%)
Long-term debt		7,552			7,506			9,669			1	%		(22	%)
Total interest-bearing liabilities		73,363			74,038			73,162			(1	%)		—
Demand deposits		29,682			28,565			26,351			4	%		13	%
Other liabilities		4,908			4,687			4,462			5	%		10	%
Total liabilities		107,953			107,290			103,975			1	%		4	%
Equity		14,259			13,827			13,679			3	%		4	%
Total liabilities and equity	$	122,212		$	121,117		$	117,654			1	%		4	%
Yield Analysis
Interest-earning assets:
Commercial and industrial loans		3.58	%		3.90	%		4.13	%
Commercial mortgage loans		3.65	%		3.63	%		3.81	%
Commercial construction loans		3.41	%		3.21	%		3.05	%
Commercial leases		3.36	%		3.38	%		3.68	%
Residential mortgage loans		3.91	%		3.98	%		4.12	%
Home equity		3.76	%		3.74	%		3.80	%
Automobile loans		3.16	%		3.29	%		3.76	%
Credit card		9.97	%		9.67	%		9.92	%
Other consumer loans and leases		39.49	%		46.77	%		42.87	%
Total loans and leases		3.89	%		4.04	%		4.26	%
Taxable securities		3.09	%		2.98	%		3.48	%
Tax exempt securities		5.01	%		5.44	%		5.02	%
Other short-term investments		0.24	%		0.26	%		0.24	%
Total interest-earning assets		3.73	%		3.84	%		4.08	%
Interest-bearing liabilities:
Interest checking		0.23	%		0.23	%		0.22	%
Savings		0.12	%		0.13	%		0.19	%
Money market		0.24	%		0.24	%		0.22	%
Foreign office		0.29	%		0.26	%		0.27	%
Other time		1.48	%		1.50	%		1.60	%
Certificates—$100,000 and over		0.82	%		1.09	%		1.50	%
Other		0.08	%		0.13	%		0.13	%
Federal funds purchased		0.11	%		0.14	%		0.15	%
Other short-term borrowings		0.18	%		0.18	%		0.17	%
Long-term debt		2.65	%		2.94	%		3.11	%
Total interest-bearing liabilities		0.57	%		0.59	%		0.73	%
Ratios:
Net interest margin (taxable equivalent)		3.33	%		3.42	%		3.56	%
Net interest rate spread (taxable equivalent)		3.16	%		3.25	%		3.35	%
Interest-bearing liabilities to interest-earning assets		68.93	%		70.03	%		71.96	%

27

Fifth Third Bancorp and Subsidiaries

Average Balance Sheet and Yield Analysis

$ in millions, except share data

(unaudited)

	Year to Date						% Change
	June 2013			June 2012			Yr/Yr
Assets
Interest-earning assets:
Commercial and industrial loans		37,033			32,095			15	%
Commercial mortgage loans		8,801			9,975			(11	%)
Commercial construction loans		709			947			(25	%)
Commercial leases		3,555			3,507			1	%
Residential mortgage loans		14,925			12,994			15	%
Home equity		9,748			10,518			(7	%)
Automobile loans		11,991			11,819			1	%
Credit card		2,070			1,920			8	%
Other consumer loans and leases		347			357			(3	%)
Taxable securities		15,285			15,430			(1	%)
Tax exempt securities		53			61			(13	%)
Other short-term investments		1,566			1,461			7	%
Total interest-earning assets		106,083			101,084			5	%
Cash and due from banks		2,292			2,304			(1	%)
Other assets		15,108			15,785			(4	%)
Allowance for loan and lease losses		(1,815	)		(2,184	)		(17	%)
Total assets		121,668			116,989			4	%
Liabilities
Interest-bearing liabilities:
Interest checking		23,277			22,928			2	%
Savings		19,218			22,043			(13	%)
Money market		8,428			4,401			92	%
Foreign office		1,261			1,799			(30	%)
Other time		3,920			4,455			(12	%)
Certificates—$100,000 and over		5,275			3,154			67	%
Other		25			21			18	%
Federal funds purchased		625			389			61	%
Other short-term borrowings		4,141			3,782			9	%
Long-term debt		7,529			9,719			(23	%)
Total interest-bearing liabilities		73,699			72,691			—
Demand deposits		29,127			26,207			11	%
Other liabilities		4,798			4,544			6	%
Total liabilities		107,624			103,442			4	%
Equity		14,044			13,547			4	%
Total liabilities and equity		121,668			116,989			4	%
Yield Analysis
Interest-earning assets:
Commercial and industrial loans		3.74	%		4.16	%		(10	%)
Commercial mortgage loans		3.64	%		3.88	%		(6	%)
Commercial construction loans		3.32	%		3.05	%		9	%
Commercial leases		3.37	%		3.73	%		(10	%)
Residential mortgage loans		3.94	%		4.15	%		(5	%)
Home equity		3.75	%		3.82	%		(2	%)
Automobile loans		3.22	%		3.87	%		(17	%)
Credit card		9.82	%		9.67	%		2	%
Other consumer loans and leases		42.84	%		41.46	%		3	%
Total loans and leases		3.97	%		4.30	%		(8	%)
Taxable securities		3.04	%		3.58	%		(15	%)
Tax exempt securities		5.21	%		5.31	%		(2	%)
Other short-term investments		0.25	%		0.25	%		2	%
Total interest-earning assets		3.78	%		4.13	%		(8	%)
Interest-bearing liabilities:
Interest checking		0.23	%		0.22	%
Savings		0.12	%		0.20	%
Money market		0.24	%		0.22	%
Foreign office		0.28	%		0.26	%
Other time		1.49	%		1.61	%
Certificates—$100,000 and over		0.92	%		1.52	%
Other		0.12	%		0.11	%
Federal funds purchased		0.13	%		0.13	%
Other short-term borrowings		0.18	%		0.15	%
Long-term debt		2.79	%		3.26	%
Total interest-bearing liabilities		0.58	%		0.76	%
Ratios:
Net interest margin (taxable equivalent)		3.38	%		3.59	%
Net interest rate spread (taxable equivalent)		3.20	%		3.37	%
Interest-bearing liabilities to interest-earning assets		69.47	%		71.91	%

28

Fifth Third Bancorp and Subsidiaries

Average Balance Sheet and Yield Analysis

$ in millions, except share data

(unaudited)

	For the Three Months Ended
	June 2013			March 2013			December 2012			September 2012			June 2012
Assets
Interest-earning assets:
Commercial and industrial loans	$	37,636		$	36,423		$	34,311		$	33,124		$	32,770
Commercial mortgage loans		8,627			8,978			9,209			9,592			9,873
Commercial construction loans		717			700			697			751			886
Commercial leases		3,553			3,557			3,509			3,483			3,471
Residential mortgage loans		14,984			14,866			14,028			13,458			13,059
Home equity		9,625			9,872			10,129			10,312			10,430
Automobile loans		11,887			12,096			11,944			11,812			11,755
Credit card		2,071			2,069			2,029			1,971			1,915
Other consumer loans and leases		373			319			324			326			349
Taxable securities		15,346			15,224			15,187			15,005			15,548
Tax exempt securities		55			51			57			48			62
Other short-term investments		1,561			1,571			1,521			1,535			1,558
Total interest-earning assets		106,435			105,726			102,945			101,417			101,676
Cash and due from banks		2,359			2,225			2,442			2,368			2,264
Other assets		15,198			15,016			15,468			15,749			15,835
Allowance for loan and lease losses		(1,780	)		(1,850	)		(1,912	)		(2,013	)		(2,121	)
Total assets	$	122,212		$	121,117		$	118,943		$	117,521		$	117,654
Liabilities
Interest-bearing liabilities:
Interest checking	$	22,796		$	23,763		$	23,556		$	22,967		$	23,548
Savings		18,864			19,576			20,216			21,283			22,143
Money market		8,918			7,932			6,026			4,776			4,258
Foreign office		1,418			1,102			1,174			1,345			1,321
Other time		3,859			3,982			4,094			4,224			4,359
Certificates—$100,000 and over		6,519			4,017			3,084			3,016			3,130
Other		10			40			32			32			23
Federal funds purchased		560			691			794			664			408
Other short-term borrowings		2,867			5,429			4,553			4,856			4,303
Long-term debt		7,552			7,506			7,891			8,863			9,669
Total interest-bearing liabilities		73,363			74,038			71,420			72,026			73,162
Demand deposits		29,682			28,565			29,223			27,127			26,351
Other liabilities		4,908			4,687			4,394			4,430			4,462
Total liabilities		107,953			107,290			105,037			103,583			103,975
Equity		14,259			13,827			13,906			13,938			13,679
Total liabilities and equity	$	122,212		$	121,117		$	118,943		$	117,521		$	117,654
Yield Analysis
Interest-earning assets:
Commercial and industrial loans		3.58	%		3.90	%		4.01	%		4.08	%		4.13	%
Commercial mortgage loans		3.65	%		3.63	%		3.69	%		3.76	%		3.81	%
Commercial construction loans		3.41	%		3.21	%		3.01	%		2.83	%		3.05	%
Commercial leases		3.36	%		3.38	%		3.42	%		3.62	%		3.68	%
Residential mortgage loans		3.91	%		3.98	%		3.94	%		4.03	%		4.12	%
Home equity		3.76	%		3.74	%		3.72	%		3.78	%		3.80	%
Automobile loans		3.16	%		3.29	%		3.46	%		3.61	%		3.76	%
Credit card		9.97	%		9.67	%		9.96	%		9.82	%		9.92	%
Other consumer loans and leases		39.49	%		46.77	%		50.06	%		49.00	%		42.87	%
Total loans and leases		3.89	%		4.04	%		4.13	%		4.21	%		4.26	%
Taxable securities		3.09	%		2.98	%		3.23	%		3.41	%		3.48	%
Tax exempt securities		5.01	%		5.44	%		2.91	%		3.29	%		5.02	%
Other short-term investments		0.24	%		0.26	%		0.28	%		0.25	%		0.24	%
Total interest-earning assets		3.73	%		3.84	%		3.94	%		4.03	%		4.08	%
Interest-bearing liabilities:
Interest checking		0.23	%		0.23	%		0.22	%		0.21	%		0.22	%
Savings		0.12	%		0.13	%		0.14	%		0.15	%		0.19	%
Money market		0.24	%		0.24	%		0.23	%		0.22	%		0.22	%
Foreign office		0.29	%		0.26	%		0.27	%		0.29	%		0.27	%
Other time		1.48	%		1.50	%		1.54	%		1.59	%		1.60	%
Certificates—$100,000 and over		0.82	%		1.09	%		1.39	%		1.49	%		1.50	%
Other		0.08	%		0.13	%		0.14	%		0.13	%		0.13	%
Federal funds purchased		0.11	%		0.14	%		0.16	%		0.13	%		0.15	%
Other short-term borrowings		0.18	%		0.18	%		0.21	%		0.19	%		0.17	%
Long-term debt		2.65	%		2.94	%		3.19	%		2.97	%		3.11	%
Total interest-bearing liabilities		0.57	%		0.59	%		0.65	%		0.67	%		0.73	%
Ratios:
Net interest margin (taxable equivalent)		3.33	%		3.42	%		3.49	%		3.56	%		3.56	%
Net interest rate spread (taxable equivalent)		3.16	%		3.25	%		3.29	%		3.36	%		3.35	%
Interest-bearing liabilities to interest-earning assets		68.93	%		70.03	%		69.38	%		71.02	%		71.96	%

29

Fifth Third Bancorp and Subsidiaries

Summary of Loans and Leases

$ in millions

(unaudited)

	For the Three Months Ended
	June 2013				March 2013		December 2012		September 2012		June 2012
Average Loans and Leases
Commercial:
Commercial and industrial loans	$	37,630			$	36,395	$	34,301	$	33,111	$	32,734
Commercial mortgage loans		8,618				8,965		9,193		9,567		9,810
Commercial construction loans		713				695		686		742		873
Commercial leases		3,552				3,556		3,509		3,481		3,469
Subtotal—commercial		50,513	��			49,611		47,689		46,901		46,886
Consumer:
Residential mortgage loans		12,260				12,096		11,846		11,578		11,274
Home equity		9,625				9,872		10,129		10,312		10,430
Automobile loans		11,887				11,961		11,944		11,812		11,755
Credit card		2,071				2,069		2,029		1,971		1,915
Other consumer loans and leases		351				294		306		314		326
Subtotal—consumer		36,194				36,292		36,254		35,987		35,700
Total average loans and leases (excluding held for sale)	$	86,707			$	85,903	$	83,943	$	82,888	$	82,586
Average loans held for sale		2,766				2,977		2,237		1,941		1,922
End of Period Loans and Leases
Commercial:
Commercial and industrial loans	$	37,856			$	36,757	$	36,038	$	33,344	$	32,612
Commercial mortgage loans		8,443				8,766		9,103		9,348		9,662
Commercial construction loans		754				694		698		672		822
Commercial leases		3,567				3,568		3,549		3,549		3,467
Subtotal—commercial		50,620				49,785		49,388		46,913		46,563
Consumer:
Residential mortgage loans		12,400				12,091		12,017		11,708		11,429
Home equity		9,531				9,727		10,018		10,238		10,377
Automobile loans		12,015				11,741		11,972		11,912		11,739
Credit card		2,114				2,043		2,097		1,994		1,943
Other consumer loans and leases		352				289		290		294		308
Subtotal—consumer		36,412		��		35,891		36,394		36,146		35,796
Total portfolio loans and leases	$	87,032			$	85,676	$	85,782	$	83,059	$	82,359
Core business activity		2,134				2,672		2,910		1,758		1,803
Portfolio management activity		14				19		29		44		60
Total loans held for sale		2,148				2,691		2,939		1,802		1,863
Operating lease equipment		645				598		581		542		511
Loans and Leases Serviced for Others: (a)
Commercial and industrial loans		748				757		721		783		682
Commercial mortgage loans		293				334		325		324		319
Commercial construction loans		39				28		29		39		41
Commercial leases		179				184		179		180		184
Residential mortgage loans		67,160				64,768		62,465		62,428		61,631
Automobile loans		448				489		—		—		—
Total loans and leases serviced for others		68,867				66,560		63,719		63,754		62,857
Total loans and leases serviced	$	158,692			$	155,525	$	153,021	$	149,157	$	147,590

(a) Fifth Third sells certain loans and leases and obtains servicing responsibilities

30

Fifth Third Bancorp and Subsidiaries

Regulatory Capital (a)

$ in millions

(unaudited)

	As of
	June 2013			March 2013			December 2012			September 2012			June 2012
Tier I capital:
Bancorp shareholders’ equity		14,251			13,882			13,716			13,718			13,773
Goodwill and certain other intangibles		(2,496	)		(2,504	)		(2,499	)		(2,504	)		(2,512	)
Unrealized (gains) losses		(149	)		(333	)		(375	)		(468	)		(454	)
Qualifying trust preferred securities		810			810			810			810			2,248
Other		22			23			33			38			38
Total tier I capital		12,438			11,878			11,685			11,594			13,093
Total risk-based capital:
Tier I capital		12,438			11,878			11,685			11,594			13,093
Qualifying allowance for credit losses		1,412			1,379			1,381			1,347			1,342
Qualifying subordinated notes		2,264			2,474			2,750			2,836			2,846
Total risk-based capital		16,114			15,731			15,816			15,777			17,281
Risk-weighted assets(b)		112,330			109,626			109,699			106,858			106,398
Ratios:
Average shareholders’ equity to average assets		11.64	%		11.38	%		11.65	%		11.82	%		11.58	%
Regulatory capital:
Fifth Third Bancorp
Tier I risk-based capital		11.07	%		10.83	%		10.65	%		10.85	%		12.31	%
Total risk-based capital		14.35	%		14.35	%		14.42	%		14.76	%		16.24	%
Tier I leverage		10.41	%		10.03	%		10.05	%		10.09	%		11.39	%
Tier I common equity		9.44	%		9.70	%		9.51	%		9.67	%		9.77	%
Fifth Third Bank
Tier I risk-based capital		11.77	%		11.47	%		11.27	%		12.29	%		12.72	%
Total risk-based capital		13.12	%		12.84	%		12.74	%		13.76	%		14.19	%
Tier I leverage		11.06	%		10.63	%		10.65	%		11.44	%		11.75	%
Tier I common equity		11.77	%		11.47	%		11.28	%		12.29	%		12.72	%

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

(b) Under the banking agencies’ risk-based capital guidelines, assets and credit equivalent amounts of derivatives and off-balance sheet exposures are assigned to broad risk categories. The aggregate dollar amount in each risk category is multiplied by the associated risk weight of the category. The resulting weighted values are added together resulting in the Bancorp’s total risk weighted assets.

31

Fifth Third Bancorp and Subsidiaries

Summary of Credit Loss Experience

$ in millions

(unaudited)

	For the Three Months Ended
	June			March			December			September			June
	2013			2013			2012			2012			2012
Average loans and leases (excluding held for sale):
Commercial and industrial loans		$37,630			$36,395			$34,301			$33,111			$32,734
Commercial mortgage loans		8,618			8,965			9,193			9,567			9,810
Commercial construction loans		713			695			686			742			873
Commercial leases		3,552			3,556			3,509			3,481			3,469
Residential mortgage loans		12,260			12,096			11,846			11,578			11,274
Home equity		9,625			9,872			10,129			10,312			10,430
Automobile loans		11,887			11,961			11,944			11,812			11,755
Credit card		2,071			2,069			2,029			1,971			1,915
Other consumer loans and leases		351			294			306			314			326
Total average loans and leases (excluding held for sale)		$86,707			$85,903			$83,943			$82,888			$82,586
Losses charged off:
Commercial and industrial loans		($42	)		($35	)		($43	)		($39	)		($53	)
Commercial mortgage loans		(15	)		(29	)		(23	)		(32	)		(28	)
Commercial construction loans		—			(4	)		(4	)		(4	)		(6	)
Commercial leases		(2	)		—			—			(1	)		(8	)
Residential mortgage loans		(18	)		(22	)		(25	)		(28	)		(38	)
Home equity		(27	)		(34	)		(38	)		(41	)		(43	)
Automobile loans		(11	)		(12	)		(14	)		(13	)		(13	)
Credit card		(23	)		(23	)		(22	)		(21	)		(24	)
Other consumer loans and leases		(7	)		(9	)		(8	)		(9	)		(6	)
Total losses		(145	)		(168	)		(177	)		(188	)		(219	)
Recoveries of losses previously charged off:
Commercial and industrial loans		9			10			7			10			7
Commercial mortgage loans		5			3			6			4			3
Commercial construction loans		—			1			—			—			6
Commercial leases		—			—			1			—			1
Residential mortgage loans		3			2			2			2			2
Home equity		4			4			4			4			4
Automobile loans		6			8			5			6			6
Credit card		4			3			3			3			6
Other consumer loans and leases		2			4			2			3			3
Total recoveries		33			35			30			32			38
Net losses charged off:
Commercial and industrial loans		(33	)		(25	)		(36	)		(29	)		(46	)
Commercial mortgage loans		(10	)		(26	)		(17	)		(28	)		(25	)
Commercial construction loans		—			(3	)		(4	)		(4	)		—
Commercial leases		(2	)		—			1			(1	)		(7	)
Residential mortgage loans		(15	)		(20	)		(23	)		(26	)		(36	)
Home equity		(23	)		(30	)		(34	)		(37	)		(39	)
Automobile loans		(5	)		(4	)		(9	)		(7	)		(7	)
Credit card		(19	)		(20	)		(19	)		(18	)		(18	)
Other consumer loans and leases		(5	)		(5	)		(6	)		(6	)		(3	)
Total net losses charged off		($112	)		($133	)		($147	)		($156	)		($181	)
Net charge-off ratios:
Commercial and industrial loans		0.35	%		0.28	%		0.42	%		0.36	%		0.57	%
Commercial mortgage loans		0.50	%		1.18	%		0.70	%		1.15	%		1.04	%
Commercial construction loans		(0.04	%)		1.44	%		1.91	%		2.29	%		(0.12	%)
Commercial leases		0.18	%		0.03	%		(0.08	%)		0.11	%		0.87	%
Residential mortgage loans		0.48	%		0.69	%		0.77	%		0.90	%		1.28	%
Home equity		0.96	%		1.23	%		1.36	%		1.43	%		1.50	%
Automobile loans		0.16	%		0.16	%		0.27	%		0.22	%		0.21	%
Credit card		3.68	%		3.82	%		3.71	%		3.49	%		3.78	%
Other consumer loans and leases		5.02	%		6.61	%		9.83	%		9.11	%		3.95	%
Total net charge-off ratio		0.51	%		0.63	%		0.70	%		0.75	%		0.88	%

32

Fifth Third Bancorp and Subsidiaries

Asset Quality

$ in millions

(unaudited)

				For the Three Months Ended
	June			March			December			September			June
	2013			2013			2012			2012			2012
Allowance for Credit Losses
Allowance for loan and lease losses, beginning	$	1,783		$	1,854		$	1,925		$	2,016		$	2,126
Total net losses charged off		(112	)		(133	)		(147	)		(156	)		(181	)
Provision for loan and lease losses		64			62			76			65			71
Allowance for loan and lease losses, ending	$	1,735		$	1,783		$	1,854		$	1,925		$	2,016
Reserve for unfunded commitments, beginning	$	168		$	179		$	176		$	178		$	179
Provision for unfunded commitments		(2	)		(11	)		3			(2	)		(1	)
Reserve for unfunded commitments, ending	$	166		$	168		$	179		$	176		$	178
Components of allowance for credit losses:
Allowance for loan and lease losses	$	1,735		$	1,783		$	1,854		$	1,925		$	2,016
Reserve for unfunded commitments		166			168			179			176			178
Total allowance for credit losses	$	1,901		$	1,951		$	2,033		$	2,101		$	2,194
Nonperforming Assets and Delinquent Loans
Nonaccrual portfolio loans and leases:
Commercial and industrial loans	$	274		$	229		$	234		$	309		$	377
Commercial mortgage loans		169			184			215			263			357
Commercial construction loans		39			66			70			76			99
Commercial leases		1			1			1			5			3
Residential mortgage loans		96			110			114			126			135
Home equity		28			28			30			29			30
Automobile loans		—			—			—			—			1
Other consumer loans and leases		—			—			1			—			—
Total nonaccrual portfolio loans and leases		607			618			665			808			1,002
Restructured loans and leases—commercial (nonaccrual)		140			159			177			153			147
Restructured loans and leases—consumer (nonaccrual)		162			174			187			192			193
Total nonperforming portfolio loans and leases		909			951			1,029			1,153			1,342
Repossessed property		6			7			8			10			9
Other real estate owned (b)		235			252			249			283			268
Total nonperforming assets (a)		1,150			1,210			1,286			1,446			1,619
Nonaccrual loans held for sale		15			16			25			38			55
Restructured loans—commercial (nonaccrual) held for sale		—			3			4			5			5
Total nonperforming assets including loans held for sale	$	1,165		$	1,229		$	1,315		$	1,489		$	1,679
Restructured portfolio consumer loans and leases (accrual)	$	1,671		$	1,683		$	1,655		$	1,641		$	1,634
Restructured portfolio commercial loans and leases (accrual)	$	475		$	441		$	431		$	442		$	455
Ninety days past due loans and leases:
Commercial and industrial loans	$	—		$	1		$	1		$	1		$	2
Commercial mortgage loans		—			—			22			22			22
Commercial construction loans		—			—			1			—			—
Commercial leases		—			—			—			—			—
Total commercial loans and leases		—			1			24			23			24
Residential mortgage loans		71			74			75			76			80
Home equity		48			53			58			65			67
Automobile loans		6			7			8			9			8
Credit card		27			29			30			28			24
Other consumer loans and leases		—			—			—			—			—
Total consumer loans and leases		152			163			171			178			179
Total ninety days past due loans and leases	$	152		$	164		$	195		$	201		$	203
Ratios
Net losses charged off as a percent of average loans and leases		0.51	%		0.63	%		0.70	%		0.75	%		0.88	%
Allowance for loan and lease losses:
As a percent of loans and leases		1.99	%		2.08	%		2.16	%		2.32	%		2.45	%
As a percent of nonperforming loans and leases (a)		191	%		187	%		180	%		167	%		150	%
As a percent of nonperforming assets (a)		151	%		147	%		144	%		133	%		125	%
Nonperforming loans and leases as a percent of portfolio loans, leases and other assets , including other real estate owned (a)		1.04	%		1.11	%		1.19	%		1.38	%		1.62	%
Nonperforming assets as a percent of portfolio loans, leases and other assets, including other real estate owned (a)		1.32	%		1.41	%		1.49	%		1.73	%		1.96	%
Nonperforming assets as a percent of total loans, leases and other assets, including other real estate owned		1.30	%		1.39	%		1.48	%		1.75	%		1.99	%

(a) Does not include nonaccrual loans held for sale

(b) Excludes OREO related to government insured loans

33

Fifth Third Bancorp and Subsidiaries

Regulation G Non-GAAP Reconciliation

$ and shares in millions

(unaudited)

	For the Three Months Ended
	June			March			December			September			June
	2013			2013			2012			2012			2012
Income before income taxes (U.S. GAAP)	$	859		$	591		$	540		$	503		$	565
Add: Provision expense (U.S. GAAP)		64			62			76			65			71
Pre-provision net revenue		923			653			616			568			636
Net income available to common shareholders (U.S. GAAP)		594			413			390			354			376
Add: Intangible amortization, net of tax		1			1			2			2			2
Tangible net income available to common shareholders		595			414			392			356			378
Tangible net income available to common shareholders (annualized) (a)		2,387			1,679			1,559			1,416			1,520
Average Bancorp shareholders’ equity (U.S. GAAP)		14,221			13,779			13,855			13,887			13,628
Less: Average preferred stock		(717	)		(398	)		(398	)		(398	)		(398	)
Average goodwill		(2,416	)		(2,416	)		(2,417	)		(2,417	)		(2,417	)
Average intangible assets		(24	)		(26	)		(28	)		(31	)		(34	)
Average tangible common equity (b)		11,064			10,939			11,012			11,041			10,779
Total Bancorp shareholders’ equity (U.S. GAAP)		14,251			13,882			13,716			13,718			13,773
Less: Preferred stock		(991	)		(398	)		(398	)		(398	)		(398	)
Goodwill		(2,416	)		(2,416	)		(2,416	)		(2,417	)		(2,417	)
Intangible assets		(23	)		(25	)		(27	)		(30	)		(33	)
Tangible common equity, including unrealized gains / losses (c)		10,821			11,043			10,875			10,873			10,925
Less: Accumulated other comprehensive income		(149	)		(333	)		(375	)		(468	)		(454	)
Tangible common equity, excluding unrealized gains / losses (d)		10,672			10,710			10,500			10,405			10,471
Add: Preferred stock		991			398			398			398			398
Tangible equity (e)		11,663			11,108			10,898			10,803			10,869
Total assets (U.S. GAAP)		123,360			121,382			121,894			117,483			117,543
Less: Goodwill		(2,416	)		(2,416	)		(2,416	)		(2,417	)		(2,417	)
Intangible assets		(23	)		(25	)		(27	)		(30	)		(33	)
Tangible assets, including unrealized gains / losses (f)		120,921			118,941			119,451			115,036			115,093
Less: Accumulated other comprehensive income / loss, before tax		(229	)		(512	)		(577	)		(720	)		(698	)
Tangible assets, excluding unrealized gains / losses (g)		120,692			118,429			118,874			114,316			114,395
Total Bancorp shareholders’ equity (U.S. GAAP)		14,251			13,882			13,716			13,718			13,773
Goodwill and certain other intangibles		(2,496	)		(2,504	)		(2,499	)		(2,504	)		(2,512	)
Unrealized gains		(149	)		(333	)		(375	)		(468	)		(454	)
Qualifying trust preferred securities		810			810			810			810			2,248
Other		22			23			33			38			38
Tier I capital		12,438			11,878			11,685			11,594			13,093
Less: Preferred stock		(991	)		(398	)		(398	)		(398	)		(398	)
Qualifying trust preferred securities		(810	)		(810	)		(810	)		(810	)		(2,248	)
Qualifying noncontrolling interests in consolidated subsidiaries		(38	)		(38	)		(48	)		(51	)		(51	)
Tier I common equity (h)		10,599			10,632			10,429			10,335			10,396
Common shares outstanding (i)		851			875			882			897			919
Risk-weighted assets, determined in accordance with prescribed regulatory requirements (j)		112,330			109,626			109,699			106,858			106,398
Ratios:
Return on average tangible common equity (a) / (b)		21.6	%		15.4	%		14.1	%		12.8	%		14.1	%
Tangible equity (e) / (g)		9.65	%		9.36	%		9.17	%		9.45	%		9.50	%
Tangible common equity (excluding unrealized gains/losses) (d) / (g)		8.83	%		9.03	%		8.83	%		9.10	%		9.15	%
Tangible common equity (including unrealized gains/losses) (c) / (f)		8.95	%		9.28	%		9.10	%		9.45	%		9.49	%
Tangible common equity as a percent of risk-weighted assets
(excluding unrealized gains/losses) (d) / (j)		9.50	%		9.77	%		9.57	%		9.74	%		9.84	%
Tangible book value per share (c) / (i)	$	12.71		$	12.62		$	12.33		$	12.12		$	11.89
Tier I common equity (h) / (j)		9.44	%		9.70	%		9.51	%		9.67	%		9.77	%
Basel III-Estimated Tier I common equity ratio
	June 2013
Tier I common equity (Basel I)		10,599
Add: Adjustment related to capital components		86
Estimated Tier I common equity under final Basel III rules without AOCI (opt out) (k)		10,685
Add: Adjustment related to AOCI		149
Estimated Tier I common equity under final Basel III rules with AOCI (non opt out) (l)		10,834
Estimated risk-weighted assets under final Basel III rules (m)		117,383
Estimated Tier I common equity ratio under final Basel III rules (opt out) (k) / (m)		9.10	%
Estimated Tier I common equity ratio under final Basel III rules (non opt out) (l) / (m)		9.23	%

(k)(l) Under the final Basel III rules, non-advanced approach banks are permitted to make a one-time election to opt out of the requirement to include AOCI in Tier I common equity. Other adjustments include mortgage servicing rights and deferred tax assets subject to threshold limitations and deferred tax liabilities related to intangible assets.

(m) Key differences under Basel III in the calculation of risk-weighted assets compared to Basel I include: (1) Risk weighting for commitments under 1 year; (2) Higher risk weighting for exposures to past due loans, foreign banks and certain commercial real estate; (3) Higher risk weighting for mortgage servicing rights and deferred tax assets that are under certain thresholds as a percent of Tier I capital; and (4) Derivatives are differentiated between exchange clearing and over-the-counter and the 50% risk-weight cap is removed.

34

Fifth Third Bancorp and Subsidiaries

Segment Presentation

$ in millions

(unaudited)

For the three months ended June 30, 2013	Commercial Banking			Branch Banking			Consumer Lending			Investment Advisors			Other/ Eliminations			Total
Net interest income (a)	$	366		$	358		$	85		$	35		$	41		$	885
Provision for loan and lease losses		(37	)		(51	)		(22	)		(1	)		47			(64	)
Net interest income after provision for loan and lease losses		329			307			63			34			88			821
Total noninterest income		198			216			250			99			297			1,060
Total noninterest expense		(279	)		(426	)		(190	)		(123	)		1			(1,017	)
Net income before taxes		248			97			123			10			386			864
Applicable income taxes (a)		(50	)		(35	)		(44	)		(3	)		(129	)		(261	)
Net income		198			62			79			7			257			603
Net income attributable to noncontrolling interest		—			—			—			—			—			—
Net income attributable to Bancorp		198			62			79			7			257			603
Dividends on preferred stock		—			—			—			—			9			9
Net income available to common shareholders	$	198		$	62		$	79		$	7		$	248		$	594
For the three months ended March 31, 2013	Commercial Banking			Branch Banking			Consumer Lending			Investment Advisors			Other/ Eliminations			Total
Net interest income (a)	$	365		$	347		$	85		$	36		$	60		$	893
Provision for loan and lease losses		(43	)		(58	)		(29	)		(1	)		69			(62	)
Net interest income after provision for loan and lease losses		322			289			56			35			129			831
Total noninterest income		184			205			229			108			17			743
Total noninterest expense		(277	)		(423	)		(177	)		(115	)		14			(978	)
Net income before taxes		229			71			108			28			160			596
Applicable income taxes (a)		(44	)		(26	)		(38	)		(10	)		(66	)		(184	)
Net income		185			45			70			18			94			412
Net income attributable to noncontrolling interest		—			—			—			—			(10	)		(10	)
Net income attributable to Bancorp		185			45			70			18			104			422
Dividends on preferred stock		—			—			—			—			9			9
Net income available to common shareholders	$	185		$	45		$	70		$	18		$	95		$	413
For the three months ended December 31, 2012	Commercial Banking			Branch Banking			Consumer Lending			Investment Advisors			Other/ Eliminations			Total
Net interest income (a)	$	386		$	341		$	80		$	31		$	65		$	903
Provision for loan and lease losses		(42	)		(68	)		(36	)		(1	)		71			(76	)
Net interest income after provision for loan and lease losses		344			273			44			30			136			827
Total noninterest income		201			214			263			94			108			880
Total noninterest expense		(277	)		(393	)		(174	)		(105	)		(214	)		(1,163	)
Net income before taxes		268			94			133			19			30			544
Applicable income taxes (a)		(59	)		(33	)		(47	)		(6	)		(3	)		(148	)
Net income		209			61			86			13			27			396
Net income attributable to noncontrolling interest		—			—			—			—			(3	)		(3	)
Net income attributable to Bancorp		209			61			86			13			30			399
Dividends on preferred stock		—			—			—			—			9			9
Net income available to common shareholders	$	209		$	61		$	86		$	13		$	21		$	390
For the three months ended September 30, 2012	Commercial Banking			Branch Banking			Consumer Lending			Investment Advisors			Other/ Eliminations			Total
Net interest income (a)	$	358		$	344		$	77		$	30		$	98		$	907
Provision for loan and lease losses		(45	)		(71	)		(38	)		(3	)		92			(65	)
Net interest income after provision for loan and lease losses		313			273			39			27			190			842
Total noninterest income		183			203			212			107			(34	)		671
Total noninterest expense		(271	)		(405	)		(167	)		(109	)		(54	)		(1,006	)
Net income before taxes		225			71			84			25			102			507
Applicable income taxes (a)		(43	)		(25	)		(30	)		(9	)		(36	)		(143	)
Net income		182			46			54			16			66			364
Net income attributable to noncontrolling interest		—			—			—			—			1			1
Net income attributable to Bancorp		182			46			54			16			65			363
Dividends on preferred stock		—			—			—			—			9			9
Net income available to common shareholders	$	182		$	46		$	54		$	16		$	56		$	354
For the three months ended June 30, 2012	Commercial Banking			Branch Banking			Consumer Lending			Investment Advisors			Other/ Eliminations			Total
Net interest income (a)	$	352		$	342		$	77		$	29		$	99		$	899
Provision for loan and lease losses		(61	)		(69	)		(49	)		(2	)		110			(71	)
Net interest income after provision for loan and lease losses		291			273			28			27			209			828
Total noninterest income		177			205			189			98			9			678
Total noninterest expense		(269	)		(401	)		(166	)		(112	)		11			(937	)
Net income before taxes		199			77			51			13			229			569
Applicable income taxes (a)		(36	)		(27	)		(18	)		(5	)		(98	)		(184	)
Net income		163			50			33			8			131			385
Dividends on preferred stock		—			—			—			—			9			9
Net income available to common shareholders	$	163		$	50		$	33		$	8		$	122		$	376

(a) Includes taxable equivalent adjustments of $5 million for the three months ended June 30, 2013, $5 million for the three months ended March 31, 2013, $4 million for the three months ended December 31, 2012, $4 million for the three months ended September 30, 2012 and $4 million for the three months ended June 30, 2012.

35