Fifth Third Bancorp (FITB) 8-K Fifth Third Announces Second Quarter 2016 Net Income to Common Shareholders of $310 Million, or $0.40 Per Diluted Share

Exhibit 99.1

		News Release
CONTACTS:	Sameer Gokhale (Investors)	FOR IMMEDIATE RELEASE
	(513) 534-2219	July 28, 2016
	Sean Parker (Media)
	(513) 534-6791

FIFTH THIRD ANNOUNCES SECOND QUARTER 2016 NET INCOME TO COMMON SHAREHOLDERS OF $310 MILLION, OR $0.40 PER DILUTED SHARE

Announces accelerated Tax Receivable Agreement (TRA) and extended operating agreement with Vantiv

• 2Q16 net income available to common shareholders of $310 million, or $0.40 per diluted common share

• Reported results included the following items which had a negative $0.01 impact on reported 2Q16 EPS:

• A $50 million pre-tax (~$33 million after-tax) charge related to the valuation of the Visa total return swap primarily reflecting the rejection of the merchant litigation settlement

• A $19 million pre-tax (~$12 million after-tax) positive valuation adjustment on the Vantiv warrant

• An $11 million pre-tax (~$7 million after-tax) gain on the previously announced sale of Pennsylvania branches

• An $11 million pre-tax (~$7 million after-tax) gain on the sale of the non-strategic agented bankcard loan portfolio

• A $9 million pre-tax (~$6 million after-tax) compensation-related expense due to retirement eligibility changes

• 2Q16 return on average assets (ROA) of 0.94%; return on average common equity of 8.2%; return on average tangible common equity** of 9.7%

• Pre-tax income of $427 million and pre-provision net revenue (PPNR)** of $518 million in 2Q16

• Net interest income (on a fully taxable equivalent basis) of $908 million, flat sequentially and up 2 percent from 2Q15; net interest margin of 2.88%, down 3 bps sequentially

• Average portfolio loans and leases of $93.9 billion, up $656 million sequentially and up $1.8 billion from 2Q15; Period end portfolio loans and leases of $93.9 billion increased $304 million sequentially and $1.2 billion, or 1 percent, from 2Q15; the sequential and year over year increases were primarily driven by increases in C&I, residential mortgage, and commercial construction loans

• Noninterest income of $599 million compared with $637 million in the prior quarter; primarily driven by the items mentioned above, partially offset by an increase in corporate banking net revenue

• Noninterest expense of $983 million was $3 million lower than the prior quarter and primarily reflected seasonally lower compensation expenses partially offset by $9 million in expenses related to changes in retirement eligibility

• Credit trends

• 2Q16 net charge-offs of $87 million (0.37% of loans and leases) decreased from 1Q16 NCOs of $96 million (0.42% of loans and leases)

• Portfolio NPA ratio of 0.86% down 2 bps from 1Q16, NPL ratio of 0.74% down 1 bp from 1Q16; total nonperforming assets (NPAs) of $825 million, including loans held-for-sale (HFS), decreased $5 million sequentially

• 2Q16 provision expense of $91 million; $119 million in 1Q16 and $79 million in 2Q15

• Strong capital ratios*

• Common equity Tier 1 (CET1) ratio 9.94%; fully phased-in CET1 ratio of 9.86%

• Tier 1 risk-based capital ratio 11.03%, Total risk-based capital ratio 14.66%, Leverage ratio 9.64%

• Tangible common equity ratio** of 9.18%; 8.64% excluding securities portfolio unrealized gains/losses

• 4 million reduction in common shares outstanding during the quarter

• Book value per share of $20.09 up 3% from 1Q16 and up 14% from 2Q15; tangible book value per share** of $16.93

* Capital ratios estimated; presented under current U.S. capital regulations.

** Non-GAAP measure; see discussion of non-GAAP and Reg. G reconciliation beginning on page 33.

Fifth Third Bancorp (Nasdaq: FITB) today reported second quarter 2016 net income of $333 million versus net income of $327 million in the first quarter of 2016 and $315 million in the second quarter of 2015. After preferred dividends, net income available to common shareholders was $310 million, or $0.40 per diluted share, in the second quarter of 2016, compared with $312 million, or $0.40 per diluted share, in the first quarter of 2016, and $292 million, or $0.36 per diluted share, in the second quarter of 2015.

Second quarter 2016 included:

Income

• $19 million positive valuation adjustment on the Vantiv warrant

• $11 million gain on sale of Pennsylvania branches as part of the previously announced branch consolidation and sales plan

• $11 million gain on the sale of the non-strategic agented bankcard loan portfolio

• ($50 million) charge related to the valuation of the Visa total return swap, primarily reflecting the rejection of the merchant litigation settlement

Expense

• ($9 million) in compensation-related expenses due to retirement eligibility changes

• ($3 million) in severance expense

First quarter 2016 included:

Income

• $47 million positive valuation adjustment on the Vantiv warrant

• $8 million gain on sale of certain St. Louis branches as part of the previously announced branch consolidation and sales plan

• $1 million benefit related to the valuation of the Visa total return swap

Expense

• ($15 million) in severance expense, primarily consisting of $14 million related to the voluntary early retirement program

Second quarter 2015 included:

Income

• $14 million positive valuation adjustment on the Vantiv warrant

• ($2 million) charge related to the valuation of the Visa total return swap

• ($97 million) non-cash impairment charge related to previously announced changes in the branch network

Expense

• ($2 million) in severance expense

2

Earnings Highlights

	For the Three Months Ended										% Change
	June		March		December		September		June
	2016		2016		2015		2015		2015		Seq		Yr/Yr
Earnings ($ in millions)
Net income attributable to Bancorp	$	333	$	327	$	657	$	381	$	315		2%		6%
Net income available to common shareholders	$	310	$	312	$	634	$	366	$	292		(1%)		6%
Common Share Data
Earnings per share, basic	$	0.40	$	0.40	$	0.80	$	0.46	$	0.36		—		11%
Earnings per share, diluted		0.40		0.40		0.79		0.45		0.36		—		11%
Cash dividends per common share		0.13		0.13		0.13		0.13		0.13		—		—
Financial Ratios
Return on average assets		0.94%		0.93%		1.83%		1.07%		0.90%		1%		4%
Return on average common equity		8.2		8.3		17.2		10.0		8.1		(1%)		1%
Return on average tangible common equity(b)		9.7		9.9		20.6		12.0		9.7		(2%)		—
CET1 capital(c)		9.94		9.81		9.82		9.40		9.42		1%		6%
Tier I risk-based capital(c)		11.03		10.91		10.93		10.49		10.51		1%		5%
CET1 capital (fully-phased in)(b)(c)		9.86		9.72		9.72		9.30		9.31		1%		6%
Net interest margin(a)		2.88		2.91		2.85		2.89		2.90		(1%)		(1%)
Efficiency(a)		65.3		63.8		48.0		58.2		65.4		2%		—
Common shares outstanding (in thousands)		766,346		770,471		785,080		795,439		810,054		(1%)		(5%)
Average common shares outstanding (in thousands):
Basic		759,105		773,564		784,855		795,793		803,965		(2%)		(6%)
Diluted		765,080		778,392		794,481		805,023		812,843		(2%)		(6%)

(a) Presented on a fully taxable equivalent basis.

(b) These 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.

(c) Under the banking agencies’ Basel III Final Rule, assets and credit equivalent amounts of off-balance sheet exposures are calculated according to the standardized approach for risk-weighted assets. The resulting values are added together resulting in the Bancorp’s total risk-weighted assets used in the calculation of the tier I risk-based capital and common equity tier 1 ratios. Current period regulatory capital ratios are estimated.

NA: Not applicable.

“Operating leverage continues to be our top priority in this extended low growth, low rate environment”, said Greg D. Carmichael, President and CEO of Fifth Third Bancorp. “With a balanced focus on revenue growth and expense management we are making good progress even as we continue to make strategic investments.”

“With disciplined loan pricing and targeted relationship management, we generated positive momentum in our core business despite a challenging economic backdrop. We are very pleased with our growth in corporate banking fees and are also are taking share in capital markets with a broader offering of products and services. Additionally, we had strong growth in mortgage originations with a 17 percent increase in purchase volumes year-over-year.

“During the quarter we continued to make strategic investments in our core business, streamlining processes, and further enhancing our information technology, risk and compliance management infrastructure. We are also pleased with the regulatory response to our CCAR submission, enabling us to continue to focus on returning a significant amount of capital to our shareholders through dividends and share repurchases.

3

“Lastly, I am pleased to announce that we recently entered into a couple of significant transactions with Vantiv. We extended our processing agreement through 2024, which will generate revenue benefits and cost savings for Fifth Third. Additionally, we agreed to terminate and settle certain future TRA cash flows for an upfront payment of $116 million with the option to terminate and settle additional future cash flows. These agreements will enable us to repurchase shares using the realized gains, creating additional value for our shareholders.”

Income Statement Highlights

	For the Three Months Ended										% Change
	June		March		December		September		June
	2016		2016		2015		2015		2015		Seq		Yr/Yr
Condensed Statements of Income ($ in millions)
Net interest income (taxable equivalent)	$	908	$	909	$	904	$	906	$	892		—		2%
Provision for loan and lease losses		91		119		91		156		79		(24%)		15%
Total noninterest income		599		637		1,104		713		556		(6%)		8%
Total noninterest expense		983		986		963		943		947		—		4%
Income before income taxes (taxable equivalent)	$	433	$	441	$	954	$	520	$	422		(2%)		3%
Taxable equivalent adjustment		6		6		5		5		5		—		20%
Applicable income tax expense		98		108		292		134		108		(9%)		(9%)
Net income	$	329	$	327	$	657	$	381	$	309		1%		6%
Less: Net income attributable to noncontrolling interests		(4)		—		—		—		(6)		100%		(33%)
Net income attributable to Bancorp	$	333	$	327	$	657	$	381	$	315		2%		6%
Dividends on preferred stock		23		15		23		15		23		53%		—
Net income available to common shareholders	$	310	$	312	$	634	$	366	$	292		(1%)		6%
Earnings per share, diluted	$	0.40	$	0.40	$	0.79	$	0.45	$	0.36		—		11%

4

Net Interest Income

	For the Three Months Ended										% Change
	June		March		December		September		June
	2016		2016		2015		2015		2015		Seq		Yr/Yr
Interest Income ($ in millions)
Total interest income (taxable equivalent)	$	1,052	$	1,044	$	1,035	$	1,031	$	1,008		1%		4%
Total interest expense		144		135		131		125		116		7%		24%
Net interest income (taxable equivalent)	$	908	$	909	$	904	$	906	$	892		—		2%
Average Yield											bps Change
Yield on interest-earning assets (taxable equivalent)		3.34%		3.34%		3.26%		3.29%		3.28%		—		6
Rate paid on interest-bearing liabilities		0.67%		0.64%		0.61%		0.58%		0.56%		3		11
Net interest rate spread (taxable equivalent)		2.67%		2.70%		2.65%		2.71%		2.72%		(3)		(5)
Net interest margin (taxable equivalent)		2.88%		2.91%		2.85%		2.89%		2.90%		(3)		(2)
Average Balances ($ in millions)											% Change
Loans and leases, including held for sale	$	94,807	$	94,078	$	94,587	$	94,329	$	92,739		1%		2%
Total securities and other short-term investments		32,040		31,573		31,256		30,102		30,563		1%		5%
Total interest-earning assets		126,847		125,651		125,843		124,431		123,302		1%		3%
Total interest-bearing liabilities		86,145		85,450		85,381		85,171		83,480		1%		3%
Bancorp shareholders’ equity		16,584		16,376		15,982		15,815		15,841		1%		5%

Net interest income of $908 million on a fully taxable equivalent basis decreased $1 million from the first quarter, primarily driven by the full quarter impact of $1.5 billion of unsecured debt issued in the first quarter of 2016 and from lower average consumer loan balances, partially offset by growth in commercial loans and securities.

The net interest margin was 2.88 percent, a decrease of 3 bps from the previous quarter. The decrease was primarily driven by the full quarter impact of the aforementioned debt issuance in the first quarter of 2016.

Compared to the second quarter of 2015, net interest income increased by $16 million and the net interest margin decreased by 2 bps. The increase in net interest income was driven by the impact of higher investment securities and loan balances, as well as short-term market rate improvements from the December 2015 Fed funds rate increase. The decrease in the net interest margin from the prior year was primarily driven by increased long-term debt balances, lower commercial loan yields, and reduced cash flow hedges, partially offset by lower cash balances held at the Fed as well as the December 2015 Fed funds rate increase.

Securities

Average securities and other short-term investments were $32.0 billion in the second quarter of 2016 compared to $31.6 billion in the previous quarter and $30.6 billion in the second quarter of 2015. Average balances of other short-term investments increased by $77 million sequentially to $2.0 billion.

5

Loans

	For the Three Months Ended										% Change
	June		March		December		September		June
	2016		2016		2015		2015		2015		Seq		Yr/Yr
Average Portfolio Loans and Leases ($ in millions)
Commercial:
Commercial and industrial loans	$	43,876	$	43,089	$	43,154	$	43,149	$	42,550		2%		3%
Commercial mortgage loans		6,831		6,886		7,032		7,023		7,148		(1%)		(4%)
Commercial construction loans		3,551		3,297		3,141		2,965		2,549		8%		39%
Commercial leases		3,898		3,874		3,839		3,846		3,776		1%		3%
Total commercial loans and leases	$	58,156	$	57,146	$	57,166	$	56,983	$	56,023		2%		4%
Consumer:
Residential mortgage loans	$	14,046	$	13,788	$	13,504	$	13,144	$	12,831		2%		9%
Home equity		8,054		8,217		8,360		8,479		8,654		(2%)		(7%)
Automobile loans		10,887		11,283		11,670		11,877		11,902		(4%)		(9%)
Credit card		2,134		2,179		2,218		2,277		2,296		(2%)		(7%)
Other consumer loans and leases		654		662		676		613		467		(1%)		40%
Total consumer loans and leases	$	35,775	$	36,129	$	36,428	$	36,390	$	36,150		(1%)		(1%)
Total average portfolio loans and leases	$	93,931	$	93,275	$	93,594	$	93,373	$	92,173		1%		2%
Average loans held for sale	$	876	$	803	$	993	$	956	$	566		9%		55%

Average loan and lease balances (excluding loans held-for-sale) increased $656 million sequentially and increased $1.8 billion, or 2 percent, from the second quarter of 2015. The sequential and year-over-year increases in average loans and leases were driven by increased commercial and industrial (C&I), residential mortgage and commercial construction loans. Period end loans and leases (excluding loans held-for-sale) of $93.9 billion increased $304 million sequentially and $1.2 billion, or 1 percent, from a year ago. The increase year-over-year was primarily due to an increase in residential mortgage and commercial construction loans, partially offset by a decrease in automobile loans.

Average commercial portfolio loan and lease balances increased $1.0 billion, or 2 percent, sequentially and increased $2.1 billion, or 4 percent, from the second quarter of 2015. Average C&I loans increased $787 million, or 2 percent, from the prior quarter and increased $1.3 billion, or 3 percent, from the second quarter of 2015. Average commercial real estate loans increased $199 million, or 2 percent, from the prior quarter and increased $685 million, or 7 percent, from the second quarter of 2015. Within commercial real estate, average commercial mortgage balances decreased $55 million and average commercial construction balances increased $254 million sequentially. Commercial line usage, on an end of period basis, was relatively stable from the first quarter of 2016 and decreased 54 bps from the second quarter of 2015.

Average consumer portfolio loan and lease balances decreased $354 million, or 1 percent, sequentially and decreased $375 million, or 1 percent, from the second quarter of 2015. This was primarily driven by average automobile loans which decreased 4 percent sequentially and 9 percent from a year ago. Average residential mortgage loans increased 2 percent sequentially and 9 percent from the previous year. Average home equity loans declined 2 percent sequentially and 7 percent from the second quarter of 2015. Average credit card loans decreased 2 percent sequentially and 7 percent from the second quarter of 2015.

6

Deposits

	For the Three Months Ended										% Change
	June		March		December		September		June
	2016		2016		2015		2015		2015		Seq		Yr/Yr
Average Deposits ($ in millions)
Demand	$	35,912	$	35,201	$	36,254	$	35,231	$	35,384		2%		1%
Interest checking		24,714		25,740		25,296		25,590		26,894		(4%)		(8%)
Savings		14,576		14,601		14,615		14,868		15,156		—		(4%)
Money market		19,243		18,655		18,775		18,253		18,071		3%		6%
Foreign office(a)		484		483		736		718		955		—		(49%)
Total transaction deposits	$	94,929	$	94,680	$	95,676	$	94,660	$	96,460		—		(2%)
Other time		4,044		4,035		4,052		4,057		4,074		—		(1%)
Total core deposits	$	98,973	$	98,715	$	99,728	$	98,717	$	100,534		—		(2%)
Certificates - $100,000 and over		2,819		2,815		3,305		2,924		2,558		—		10%
Other		467		—		7		222		—		100%		100%
Total average deposits	$	102,259	$	101,530	$	103,040	$	101,863	$	103,092		1%		(1%)

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

Average core deposits increased $258 million sequentially but decreased $1.6 billion, or 2 percent, from the second quarter of 2015. Average transaction deposits increased $249 million from the first quarter of 2016 and decreased $1.5 billion, or 2 percent, from the second quarter of 2015. Sequential performance was primarily driven by higher demand deposit and money market account balances, partially offset by lower interest checking account balances. The year-over-year decline was primarily driven by lower interest checking, savings and foreign office account balances, partially offset by higher demand deposit and money market account balances. Other time deposits were flat sequentially and decreased 1 percent compared with the second quarter of 2015. Average deposit balances were impacted by approximately $201 million due to the previously noted sale of branches in Pennsylvania. This sale included $302 million of primarily core consumer deposit balances. Additionally, average deposit balances were affected by the full quarter impact of $228 million in deposits from the sale of St. Louis branches in the first quarter of 2016.

Average commercial transaction deposits were down 2 percent sequentially and decreased 6 percent from the previous year. The sequential decline was primarily driven by lower interest checking account balances, partially offset by an increase in demand deposit account and money market account balances. The year-over-year decline reflected lower interest checking and foreign office account balances, partially offset by higher demand deposit and money market account balances.

Average consumer transaction deposits increased 2 percent sequentially and 3 percent from the second quarter of 2015. The sequential performance reflected broad-based growth across all deposit products. Year-over-year growth was driven by higher money market, interest checking, and demand deposit account balances, partially offset by lower savings account balances.

7

Wholesale Funding

	For the Three Months Ended										% Change
	June 2016		March 2016		December 2015		September 2015		June 2015		Seq		Yr/Yr
Average Wholesale Funding ($ in millions)
Certificates - $100,000 and over	$	2,819	$	2,815	$	3,305	$	2,924	$	2,558		—		10%
Other deposits		467		—		7		222		—		100%		100%
Federal funds purchased		693		608		1,182		1,978		326		14%		NM
Other short-term borrowings		3,754		3,564		1,675		1,897		1,705		5%		NM
Long-term debt		15,351		14,949		15,738		14,664		13,741		3%		12%
Total average wholesale funding	$	23,084	$	21,936	$	21,907	$	21,685	$	18,330		5%		26%

Average wholesale funding of $23.1 billion increased $1.1 billion, or 5 percent, sequentially, and increased $4.8 billion, or 26 percent, compared with the second quarter of 2015. The sequential increase in average wholesale funding was primarily driven by a $1.25 billion debt issuance to take advantage of favorable capital market conditions. The year-over-year increase reflected the impact of funding higher securities balances and replacing LCR punitive deposits with wholesale borrowings.

Noninterest Income

	For the Three Months Ended										% Change
	June 2016		March 2016		December 2015		September 2015		June 2015		Seq		Yr/Yr
Noninterest Income ($ in millions)
Service charges on deposits	$	138	$	137	$	144	$	145	$	139		1%		(1%)
Corporate banking revenue		117		102		104		104		113		15%		4%
Mortgage banking net revenue		75		78		74		71		117		(4%)		(36%)
Wealth and asset management revenue		101		102		102		103		105		(1%)		(4%)
Card and processing revenue		82		79		77		77		77		4%		6%
Other noninterest income		80		136		602		213		1		(41%)		NM
Securities gains, net		6		3		1		—		4		100%		50%
Total noninterest income	$	599	$	637	$	1,104	$	713	$	556		(6%)		8%

Noninterest income of $599 million decreased $38 million sequentially and increased $43 million compared with prior year results. The sequential and year-over-year comparisons reflect the impacts described below.

8

Noninterest Income excluding certain items

	For the Three Months Ended						% Change
	June 2016		March 2016		June 2015		Seq		Yr/Yr
Noninterest Income excluding certain items ($ in millions)
Noninterest income (U.S. GAAP)	$	599	$	637	$	556
Vantiv warrant valuation		(19)		(47)		(14)
Gain on sale of certain branches		(11)		(8)		—
Gain on sale of the non-strategic agented bankcard loan portfolio		(11)		—		—
Valuation of Visa total return swap		50		(1)		2
Branch / land valuation adjustments		—		—		97
Securities (gains) / losses		(6)		(3)		(4)
Noninterest income excluding certain items	$	602	$	578	$	637		4%		(5%)

Excluding the items in the table above, noninterest income of $602 million increased $24 million, or 4 percent, from the previous quarter and decreased $35 million, or 5 percent, from the second quarter of 2015. The sequential increase was primarily due to increases in corporate banking revenue. The year-over-year decrease was driven by a decrease in mortgage banking net revenue due to a significant positive MSR valuation adjustment in the second quarter of 2015.

Service charges on deposits of $138 million increased 1 percent from the first quarter of 2016, and decreased 1 percent compared with the same quarter last year. The sequential increase reflected a 3 percent increase in retail service charges. The decrease from the second quarter of 2015 was due to a 6 percent decrease in retail service charges.

Corporate banking revenue of $117 million increased $15 million compared to the first quarter of 2016 and increased $4 million from the second quarter of 2015. The sequential comparison reflects increases in loan syndication revenue and institutional sales revenue. The year-over-year increase was primarily driven by higher loan syndication revenue, partially offset by lower business lending fees and institutional sales revenue.

Mortgage banking net revenue was $75 million in the second quarter of 2016, down $3 million from the first quarter of 2016 and down $42 million from the second quarter of 2015. Originations were $2.7 billion in the current quarter, $1.8 billion in the previous quarter and $2.5 billion in the second quarter of 2015. Second quarter 2016 originations resulted in gains of $54 million on mortgages sold, compared with gains of $42 million during the previous quarter and $43 million during the second quarter of 2015. Mortgage servicing fees were $50 million this quarter, $52 million in the first quarter of 2016, and $56 million in the second quarter of 2015. Mortgage banking net revenue is also affected by net servicing asset valuation 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 negative $29 million in the second quarter of 2016 (reflecting MSR amortization of $35 million and MSR valuation adjustments of positive $6 million); negative $16 million in the first quarter of 2016 (MSR amortization of $27 million and MSR valuation adjustments of positive $11 million); and positive $18 million in the second quarter of 2015 (MSR amortization of $39 million and MSR valuation adjustments of positive $57 million). The mortgage servicing asset, net of the valuation reserve, was $621 million at quarter end on a servicing portfolio of $56 billion.

9

Wealth and asset management revenue of $101 million decreased 1 percent from the first quarter of 2016 due to seasonally lower tax-related private client services revenue, partially offset by an increase in personal asset management fees. The decrease of 4 percent from the prior year was primarily due to lower securities and brokerage fees.

Card and processing revenue of $82 million in the second quarter of 2016 increased 4 percent sequentially and increased 6 percent from the second quarter of 2015. The sequential increase reflected higher transaction volumes compared with seasonally weak first quarter volumes. The year-over-year increase reflected an increase in customer transactions and spend volume.

Other noninterest income totaled $80 million in the second quarter of 2016, compared with $136 million in the previous quarter and $1 million in the second quarter of 2015. As previously described, the results included the adjustments in the table on page 9 with the exception of securities gains in all comparable periods. Excluding these items, other noninterest income of $89 million increased approximately $9 million, or 11 percent, from the first quarter of 2016 and increased approximately $3 million, or 3 percent, from the second quarter of 2015.

Net gains on investment securities were $6 million in the second quarter of 2016, compared with $3 million in the previous quarter and $4 million in the second quarter of 2015.

Noninterest Expense

	For the Three Months Ended										% Change
	June 2016		March 2016		December 2015		September 2015		June 2015		Seq			Yr/Yr
Noninterest Expense ($ in millions)
Salaries, wages and incentives	$	407	$	403	$	386	$	387	$	383		1	%		6	%
Employee benefits		85		100		74		72		78		(15	%)		9	%
Net occupancy expense		75		77		83		77		83		(3	%)		(10	%)
Technology and communications		60		56		59		56		54		7	%		11	%
Equipment expense		30		30		32		31		31		—			(3	%)
Card and processing expense		37		35		40		40		38		6	%		(3	%)
Other noninterest expense		289		285		289		280		280		1	%		3	%
Total noninterest expense	$	983	$	986	$	963	$	943	$	947		—			4	%

Noninterest expense of $983 million was down $3 million compared with the first quarter of 2016 and increased 4 percent compared with the second quarter of 2015. The sequential comparison reflected a seasonal decrease in FICA and unemployment tax expense recorded in employee benefits, partially offset by a $9 million compensation-related expense due to retirement eligibility changes. The year-over-year increase reflected higher compensation expense as a result of personnel additions primarily in risk and compliance and information technology.

10

Credit Quality

	For the Three Months Ended
	June 2016		March 2016		December 2015		September 2015		June 2015
Total net losses charged-off ($ in millions)
Commercial and industrial loans	($	39)	($	46)	($	30)	($	128)	($	34)
Commercial mortgage loans		(6)		(6)		(3)		(11)		(11)
Commercial construction loans		—		—		—		(3)		—
Commercial leases		(1)		(2)		(1)		—		—
Residential mortgage loans		(2)		(2)		(3)		(3)		(5)
Home equity		(6)		(8)		(9)		(9)		(9)
Automobile loans		(8)		(9)		(9)		(7)		(4)
Credit card		(21)		(20)		(19)		(21)		(21)
Other consumer loans and leases		(4)		(3)		(6)		(6)		(2)
Total net losses charged-off	($	87)	($	96)	($	80)	($	188)	($	86)
Total losses charged-off	($	105)	($	116)	($	105)	($	209)	($	112)
Total recoveries of losses previously charged-off		18		20		25		21		26
Total net losses charged-off	($	87)	($	96)	($	80)	($	188)	($	86)
Ratios (annualized)
Net losses charged-off as a percent of average portfolio loans and leases (excluding held for sale)		0.37%		0.42%		0.34%		0.80%		0.37%
Commercial		0.32%		0.38%		0.24%		0.99%		0.32%
Consumer		0.45%		0.48%		0.49%		0.51%		0.46%

Net charge-offs were $87 million, or 37 bps of average portfolio loans and leases on an annualized basis, in the second quarter of 2016 compared with net charge-offs of $96 million, or 42 bps, in the first quarter of 2016 and $86 million, or 37 bps, in the second quarter of 2015.

Commercial net charge-offs were $46 million, or 32 bps, and were down $8 million sequentially. The decrease was primarily due to lower charge-offs of C&I loans, which decreased by $7 million from the first quarter of 2016. Commercial real estate net charge-offs were flat from the previous quarter.

Consumer net charge-offs were $41 million, or 45 bps, and were down $1 million sequentially. Compared with the previous quarter, net charge-offs on residential mortgage loans in the portfolio were flat and net charge-offs on the home equity portfolio decreased $2 million. Net charge-offs on the auto portfolio were down $1 million and net charge-offs on credit card loans were up $1 million from the first quarter of 2016. Net charge-offs on other consumer loans were $4 million, up $1 million from the previous quarter.

11

	For the Three Months Ended
	June		March		December		September		June
	2016		2016		2015		2015		2015
Allowance for Credit Losses ($ in millions)
Allowance for loan and lease losses, beginning	$	1,295	$	1,272	$	1,261	$	1,293	$	1,300
Total net losses charged-off		(87)		(96)		(80)		(188)		(86)
Provision for loan and lease losses		91		119		91		156		79
Allowance for loan and lease losses, ending	$	1,299	$	1,295	$	1,272	$	1,261	$	1,293
Reserve for unfunded commitments, beginning	$	144	$	138	$	134	$	132	$	130
Provision for unfunded commitments		7		6		4		2		2
Reserve for unfunded commitments, ending	$	151	$	144	$	138	$	134	$	132
Components of allowance for credit losses:
Allowance for loan and lease losses	$	1,299	$	1,295	$	1,272	$	1,261	$	1,293
Reserve for unfunded commitments		151		144		138		134		132
Total allowance for credit losses	$	1,450	$	1,439	$	1,410	$	1,395	$	1,425
Allowance for loan and lease losses ratio
As a percent of portfolio loans and leases		1.38%		1.38%		1.37%		1.35%		1.39%
As a percent of nonperforming loans and leases(a)		188%		185%		252%		275%		272%
As a percent of nonperforming assets(a)		161%		157%		197%		208%		206%

(a) Excludes nonaccrual loans in loans held for sale.

Provision for loan and lease losses totaled $91 million in the second quarter of 2016. The allowance represented 1.38 percent of total portfolio loans and leases outstanding as of quarter end, compared with 1.38 percent last quarter, and represented 188 percent of nonperforming loans and leases, and 161 percent of nonperforming assets.

The provision decreased $28 million from the first quarter of 2016 and increased $12 million from the second quarter of 2015. The allowance for loan and lease losses increased $4 million sequentially. As of June 30, the reserve allocated to the energy portfolio was approximately 5.97%, down from approximately 6.20% last quarter.

12

	As of
	June 2016		March 2016		December 2015		September 2015		June 2015
Nonperforming Assets and Delinquent Loans ($ in millions)
Nonaccrual portfolio loans and leases:
Commercial and industrial loans	$	254	$	278	$	82	$	47	$	61
Commercial mortgage loans		39		51		56		60		49
Commercial construction loans		—		—		—		—		—
Commercial leases		4		4		—		2		2
Residential mortgage loans		27		25		28		31		35
Home equity		61		61		62		65		70
Total nonaccrual portfolio loans and leases (excludes restructured loans)	$	385	$	419	$	228	$	205	$	217
Nonaccrual restructured portfolio commercial loans and leases(b)		242		210		203		177		175
Nonaccrual restructured portfolio consumer loans and leases		66		72		75		76		83
Total nonaccrual portfolio loans and leases	$	693	$	701	$	506	$	458	$	475
Repossessed property		15		17		18		17		16
OREO		97		107		123		131		135
Total nonperforming portfolio assets(a)	$	805	$	825	$	647	$	606	$	626
Nonaccrual loans held for sale		20		3		1		1		1
Nonaccrual restructured loans held for sale		—		2		11		1		—
Total nonperforming assets	$	825	$	830	$	659	$	608	$	627
Restructured Portfolio Consumer loans and leases (accrual)	$	982	$	998	$	979	$	973	$	970
Restructured Portfolio Commercial loans and leases (accrual)(b)	$	431	$	461	$	491	$	571	$	769
Total loans and leases 90 days past due	$	65	$	73	$	75	$	70	$	70
Nonperforming loans and leases as a percent of portfolio loans, leases and other assets, including OREO(a)		0.74%		0.75%		0.55%		0.49%		0.51%
Nonperforming portfolio assets as a percent of portfolio loans and leases and OREO(a)		0.86%		0.88%		0.70%		0.65%		0.67%

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

(b) Excludes $20 million of restructured nonaccrual loans and $7 million of restructured accruing loans as of June 30, 2016, March 31, 2016 and December 31, 2015. Excludes $21 million of restructured nonaccrual loans and $7 million of restructured accruing loans as of September 30, 2015 and June 30, 2015.

Total nonperforming assets, including loans held-for-sale, decreased $5 million, or 1 percent, from the previous quarter to $825 million. Nonperforming loans (NPLs) at quarter-end decreased $8 million, or 1 percent, from the previous quarter to $693 million or 0.74 percent of total loans, leases and OREO.

Commercial NPAs decreased $9 million from the first quarter to $602 million, or 1.04 percent of commercial loans, leases and OREO. Commercial NPLs decreased $4 million from last quarter to $539 million, or 0.93 percent of commercial loans and leases. C&I NPAs increased $5 million from the prior quarter to $477 million. This increase primarily reflected non-energy NPAs which resulted in a stable reserve coverage of both NPLs and NPAs compared with those coverage levels in the first quarter of 2016. Energy NPLs were flat sequentially. Commercial mortgage NPAs decreased $12 million from the previous quarter to $114 million. Commercial construction NPAs decreased $1 million from the previous quarter to $7 million. Commercial lease NPAs were $4 million, down $1 million from the previous quarter. Commercial NPAs included $242 million of nonaccrual troubled debt restructurings (TDRs), compared with $210 million last quarter.

13

Consumer NPAs decreased $11 million from the first quarter to $203 million, or 0.57 percent of consumer loans, leases and OREO. Consumer NPLs decreased $4 million from last quarter to $154 million, or 0.43 percent of consumer loans and leases. Residential mortgage NPAs decreased $8 million from the second quarter to $69 million. Home equity NPAs decreased $1 million, sequentially, to $94 million. Consumer nonaccrual TDRs were $66 million in the second quarter of 2016, compared with $72 million in the first quarter of 2016.

Second quarter OREO balances included in NPA balances were down $10 million from the first quarter to $97 million, and included $56 million in commercial OREO and $41 million in consumer OREO. Repossessed personal property decreased $2 million from the prior quarter to $15 million.

Loans over 90 days past due and still accruing decreased $7 million from the first quarter of 2016 to $65 million. Commercial balances over 90 days past due were $2 million compared with $3 million in the prior quarter, and consumer balances 90 days past due decreased $7 million from the previous quarter to $63 million. Loans 30-89 days past due of $196 million were down $12 million from the previous quarter. Commercial balances 30-89 days past due decreased $17 million sequentially to $17 million and consumer balances 30-89 days past due were up $5 million from the first quarter at $179 million. The above delinquency figures exclude nonaccruals described previously.

14

Capital and Liquidity Position

	For the Three Months Ended
	June 2016			March 2016			December 2015			September 2015			June 2015
Capital Position
Average total Bancorp shareholders’ equity to average assets		11.60	%		11.57	%		11.26	%		11.24	%		11.32	%
Tangible equity(a)		9.59	%		9.51	%		9.55	%		9.29	%		9.29	%
Tangible common equity (excluding unrealized gains/losses)(a)		8.64	%		8.55	%		8.59	%		8.33	%		8.33	%
Tangible common equity (including unrealized gains/losses)(a)		9.18	%		8.97	%		8.71	%		8.65	%		8.51	%
Tangible common equity as a percent of risk-weighted assets (excluding unrealized gains/losses)(a)(b)		9.92	%		9.78	%		9.80	%		9.37	%		9.39	%
	Basel III
Regulatory capital ratios:	Transitional
CET1 capital(b)		9.94	%		9.81	%		9.82	%		9.40	%		9.42	%
Tier I risk-based capital(b)		11.03	%		10.91	%		10.93	%		10.49	%		10.51	%
Total risk-based capital(b)		14.66	%		14.66	%		14.13	%		13.68	%		13.69	%
Tier I leverage		9.64	%		9.57	%		9.54	%		9.38	%		9.44	%
CET1 capital (fully phased-in)(a)(b)		9.86	%		9.72	%		9.72	%		9.30	%		9.31	%
Book value per share	$	20.09		$	19.46		$	18.48		$	18.22		$	17.62
Tangible book value per share(a)	$	16.93		$	16.32		$	15.39		$	15.18		$	14.62
Modified liquidity coverage ratio (LCR)(c)(d)		110	%		118	%		N/A			N/A			N/A

(a) These 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 Basel III Final Rule, assets and credit equivalent amounts of off-balance sheet exposures are calculated based upon the standardized approach for risk-weighted assets. The resulting values are added together resulting in the Bancorp’s total risk-weighted assets.

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

(d) The Bancorp became subject to the Modified LCR regulations effective January 1, 2016.

Capital ratios remained strong during the quarter. The common equity Tier 1 ratio was 9.94 percent, the tangible common equity to tangible assets ratio* was 8.64 percent (excluding unrealized gains/losses), and 9.18 percent (including unrealized gains/losses). The Tier 1 risk-based capital ratio was 11.03 percent, the total risk-based capital ratio was 14.66 percent, and the Leverage ratio was 9.64 percent.

Book value per share at June 30, 2016 was $20.09 and tangible book value per share* was $16.93, compared with the March 31, 2016 book value per share of $19.46 and tangible book value per share* of $16.32.

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

• On April 11, 2016, Fifth Third settled the forward contract related to the March 4, 2016 $240 million share repurchase agreement. An additional 1.87 million shares were repurchased in connection with the completion of this agreement.

• On June 14, 2016, Fifth Third executed open market share repurchases totaling $26 million, which reduced the second quarter share count by 1.44 million shares.

* Non-GAAP measure; see discussion of non-GAAP measures and Reg. G reconciliation beginning on page 33.

15

In total, common shares outstanding decreased by approximately 4 million shares in the second quarter of 2016 from the first quarter of 2016.

On June 29, 2016, Fifth Third announced that the Board of Governors of the Federal Reserve System did not object to Fifth Third’s 2016 CCAR capital plan for the period beginning July 1, 2016 and ending June 30, 2017. Our capital plan included the following components:

• An increase in the quarterly common stock dividend to $0.14 in 4Q16

• The repurchase of common shares in an amount up to $660 million, which includes $84 million in repurchases related to share issuances under employee benefit plans

• The additional ability to repurchase shares in the amount of any realized after-tax gains from the sale of Vantiv stock, if executed

• The additional ability to repurchase shares in the amount of any realized after-tax gains from the sale of any portion of the tax receivable agreement with Vantiv, if executed

Tax Rate

The effective tax rate was 22.8 percent in the second quarter of 2016 compared with 25.0 percent in the first quarter of 2016 and 26.1 percent in the second quarter of 2015. The tax rate in the current period reflected an $8 million tax benefit related to a change in the estimated deductibility of a prior expense.

Other

On July 27, 2016, Fifth Third Bancorp entered into an agreement with Vantiv, Inc. under which a portion of its Tax Receivable Agreement (“TRA”) with Vantiv was terminated and settled in full for consideration of a cash payment in the amount of $116 million from Vantiv. Under the agreement, Fifth Third Bancorp sold certain TRA cash flows totaling an estimated $331 million. These cash flows were originally payable to Fifth Third from 2019 - 2035. This sale does not impact the TRA payment expected to be recognized in the fourth quarter of 2016 and the fourth quarter of 2017. Fifth Third will also have the ability to terminate and settle another $394 million of future cash flows for a total of $171 million dollars payable to Fifth Third in 2017 and 2018 in 8 separate quarterly optional executions. For more detail, see the 8-K dated July 28, 2016. Additionally, Fifth Third Bancorp announced a 5.5 year extension to the existing operating agreement with Vantiv. The new agreement will reflect reduced expenses for Fifth Third and enhanced revenue opportunities for both parties.

Fifth Third Bank owns approximately 35 million units representing an 18.3 percent interest in Vantiv Holding, LLC, convertible into shares of Vantiv, Inc., a publicly traded firm. Based upon Vantiv’s closing price of $56.60 on June 30, 2016, our interest in Vantiv was valued at approximately $2.0 billion. Next month in our 10-Q, we will update our disclosure of the carrying value of our interest in Vantiv stock, which was $374 million as of March 31, 2016. 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 approximately 7.8 million additional shares in Vantiv which is carried as a derivative asset at a fair value of $327 million as of June 30, 2016.

16

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”). Institutional investors can access the call via Thomson Financial’s password-protected event management site, StreetEvents (www.streetevents.com).

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 11, 2016 by dialing 855-859-2056 for domestic access or 404-537-3406 for international access (passcode 30557082#).

Corporate Profile

Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio. As of June 30, 2016, the Company had $144 billion in assets and operates 1,191 full-service Banking Centers, including 94 Bank Mart^® locations, most open seven days a week, inside select grocery stores and 2,514 ATMs in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Georgia and North Carolina. Fifth Third operates four main businesses: Commercial Banking, Branch Banking, Consumer Lending, and Wealth & Asset Management. Fifth Third also has an 18.3% interest in Vantiv Holding, LLC. Fifth Third is among the largest money managers in the Midwest and, as of June 30, 2016, had $305 billion in assets under care, of which it managed $26 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^® Global Select Market under the symbol “FITB.”

FORWARD-LOOKING STATEMENTS

This release contains statements that we believe are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Rule 175 promulgated thereunder, and Section 21E of the Securities Exchange Act of 1934, as amended, and Rule 3b-6 promulgated thereunder. These statements relate to our financial condition, results of operations, plans, objectives, future performance or business. They usually can be identified by the use of forward-looking language such as “will likely result,” “may,” “are expected to,” “anticipates,” “potential,” “estimate,” “forecast,” “projected,” “intends to,” or may include other similar words or phrases such as “believes,” “plans,” “trend,” “objective,” “continue,” “remain,” or similar expressions, or future or conditional verbs such as “will,” “would,” “should,” “could,” “might,” “can,” or similar verbs. You should not place undue reliance on these statements, as they are subject to risks and uncertainties, including but not limited to the risk factors set forth in our most recent Annual Report on Form 10-K as updated from time to time by our Quarterly Reports on Form 10-Q. When considering these forward-looking statements, you should keep in mind these risks and uncertainties, as well as any cautionary statements we may make. Moreover, you should treat these statements as speaking only as of the date they are made and based only on information then actually known to us. There is a risk that additional information may become known during the company’s quarterly closing process or as a result of subsequent events that could affect the accuracy of the statements and financial information contained herein.

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 or real estate market conditions, either nationally or in the states in which Fifth Third, one or more acquired entities and/or the combined company do business, weaken or 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 and adequate sources of funding and liquidity 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 Fifth Third’s investment in, relationship with, and nature of the operations of Vantiv, LLC; (21) loss of income from any sale or potential sale of businesses; (22) difficulties in separating the operations of any branches or other assets divested; (23) inability to achieve expected benefits from branch consolidations and planned sales within desired timeframes, if at all; (24) ability to secure confidential information and deliver products and services through the use of computer systems and telecommunications networks; and (25) 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.

# # #

17

Quarterly Financial Review for June 30, 2016

Table of Contents

Financial Highlights	19-20
Consolidated Statements of Income	21
Consolidated Statements of Income (Taxable Equivalent)	22
Consolidated Balance Sheets	23-24
Consolidated Statements of Changes in Equity	25
Average Balance Sheet and Yield Analysis	26-28
Summary of Loans and Leases	29
Regulatory Capital	30
Summary of Credit Loss Experience	31
Asset Quality	32
Regulation G Non-GAAP Reconciliation	33-34
Segment Presentation	35

18

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 2016		March 2016		June 2015		Seq		Yr/Yr		June 2016		June 2015		Yr/Yr
Income Statement Data
Net interest income(a)	$	908	$	909	$	892		—		2%	$	1,817	$	1,744		4%
Noninterest income		599		637		556		(6%)		8%		1,235		1,187		4%
Total revenue(a)		1,507		1,546		1,448		(3%)		4%		3,052		2,931		4%
Provision for loan and lease losses		91		119		79		(24%)		15%		210		148		42%
Noninterest expense		983		986		947		—		4%		1,968		1,871		5%
Net income attributable to Bancorp		333		327		315		2%		6%		660		676		(2%)
Net income available to common shareholders		310		312		292		(1%)		6%		622		638		(3%)
Common Share Data
Earnings per share, basic	$	0.40	$	0.40	$	0.36		—		11%	$	0.80	$	0.78		3%
Earnings per share, diluted		0.40		0.40		0.36		—		11%		0.80		0.77		4%
Cash dividends per common share		0.13		0.13		0.13		—		—		0.26		0.26		—
Book value per share		20.09		19.46		17.62		3%		14%		20.09		17.62		14%
Market price per share		17.59		16.69		20.82		5%		(16%)		17.59		20.82		(16%)
Common shares outstanding (in thousands)		766,346		770,471		810,054		(1%)		(5%)		766,346		810,054		(5%)
Average common shares outstanding (in thousands):
Basic		759,105		773,564		803,965		(2%)		(6%)		766,335		807,070		(5%)
Diluted		765,080		778,392		812,843		(2%)		(6%)		771,736		815,741		(5%)
Market capitalization	$	13,480	$	12,859	$	16,865		5%		(20%)	$	13,480	$	16,865		(20%)
Financial Ratios
Return on average assets		0.94%		0.93%		0.90%		1%		4%		0.93%		0.98%		(5%)
Return on average common equity		8.2%		8.3%		8.1%		(1%)		1%		8.3%		8.9%		(7%)
Return on average tangible common equity(b)(d)		9.7%		9.9%		9.7%		(2%)		—		9.8%		10.7%		(8%)
Noninterest income as a percent of total revenue		40%		41%		38%		(2%)		5%		40%		40%		—
Dividend payout ratio		32.5%		32.5%		36.1%		—		(10%)		32.5%		33.3%		(2%)
Average total Bancorp shareholders’ equity as a percent of average assets		11.60%		11.57%		11.32%		—		2%		11.59%		11.41%		2%
Tangible common equity(c)(d)(j)		8.64%		8.55%		8.33%		1%		4%		8.64%		8.33%		4%
Net interest margin(a)		2.88%		2.91%		2.90%		(1%)		(1%)		2.89%		2.88%		—
Efficiency(a)		65.3%		63.8%		65.4%		2%		—		64.5%		63.8%		1%
Effective tax rate		22.8%		25.0%		26.1%		(9%)		(13%)		23.9%		25.8%		(7%)
Credit Quality
Net losses charged-off	$	87	$	96	$	86		(9%)		1%	$	183	$	177		3%
Net losses charged-off as a percent of average portfolio loans and leases		0.37%		0.42%		0.37%		(12%)		—		0.39%		0.39%		—
ALLL as a percent of portfolio loans and leases		1.38%		1.38%		1.39%		—		(1%)		1.38%		1.39%		(1%)
Allowance for credit losses as a percent of portfolio loans and leases(k)		1.54%		1.54%		1.54%		—		—		1.54%		1.54%		—
Nonperforming portfolio assets as a percent of portfolio loans and leases and OREO(e)		0.86%		0.88%		0.67%		(2%)		28%		0.86%		0.67%		28%
Average Balances
Loans and leases, including held for sale	$	94,807	$	94,078	$	92,739		1%		2%	$	94,443	$	92,202		2%
Total securities and other short-term investments		32,040		31,573		30,563		1%		5%		31,808		29,805		7%
Total assets		142,920		141,582		139,960		1%		2%		142,251		138,795		2%
Transaction deposits(f)		94,929		94,680		96,460		—		(2%)		94,806		95,322		(1%)
Core deposits(g)		98,973		98,715		100,534		—		(2%)		98,845		99,370		(1%)
Wholesale funding(h)		23,084		21,936		18,330		5%		26%		22,509		18,599		21%
Bancorp shareholders’ equity		16,584		16,376		15,841		1%		5%		16,479		15,831		4%
	Basel III
	Transitional
Regulatory Capital Ratios(i)
CET1 capital(j)		9.94%		9.81%		9.42%		1%		6%		9.94%		9.42%		6%
Tier I risk-based capital(j)		11.03%		10.91%		10.51%		1%		5%		11.03%		10.51%		5%
Total risk-based capital(j)		14.66%		14.66%		13.69%		—		7%		14.66%		13.69%		7%
Tier I leverage		9.64%		9.57%		9.44%		1%		2%		9.64%		9.44%		2%
CET1 capital (fully phased-in)(j)		9.86%		9.72%		9.31%		1%		6%		9.86%		9.31%		6%
Operations
Banking centers		1,191		1,241		1,299		(4%)		(8%)		1,191		1,299		(8%)
ATMs		2,514		2,556		2,630		(2%)		(4%)		2,514		2,630		(4%)
Full-time equivalent employees		18,051		18,200		18,527		(1%)		(3%)		18,051		18,527		(3%)

(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 AOCI).

(d) These ratios have been included herein to facilitate a greater understanding of the Bancorp’s capital structure and financial condition. Non-GAAP measure; see discussion of non-GAAP measures and Reg. G reconciliation beginning on page 33.

(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, other short-term borrowings and long-term debt.

(i) Current period regulatory capital ratios are estimates.

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

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

19

Fifth Third Bancorp and Subsidiaries

Financial Highlights

$ in millions, except per share data

(unaudited)

	For the Three Months Ended
	June 2016			March 2016			December 2015			September 2015			June 2015
Income Statement Data
Net interest income(a)	$	908		$	909		$	904		$	906		$	892
Noninterest income		599			637			1,104			713			556
Total revenue(a)		1,507			1,546			2,008			1,619			1,448
Provision for loan and lease losses		91			119			91			156			79
Noninterest expense		983			986			963			943			947
Net income attributable to Bancorp		333			327			657			381			315
Net income available to common shareholders		310			312			634			366			292
Common Share Data
Earnings per share, basic	$	0.40		$	0.40		$	0.80		$	0.46		$	0.36
Earnings per share, diluted		0.40			0.40			0.79			0.45			0.36
Cash dividends per common share		0.13			0.13			0.13			0.13			0.13
Book value per share		20.09			19.46			18.48			18.22			17.62
Market price per share		17.59			16.69			20.10			18.91			20.82
Common shares outstanding (in thousands)		766,346			770,471			785,080			795,439			810,054
Average common shares outstanding (in thousands):
Basic		759,105			773,564			784,855			795,793			803,965
Diluted		765,080			778,392			794,481			805,023			812,843
Market capitalization	$	13,480		$	12,859		$	15,780		$	15,042		$	16,865
Financial Ratios
Return on average assets		0.94	%		0.93	%		1.83	%		1.07	%		0.90	%
Return on average common equity		8.2	%		8.3	%		17.2	%		10.0	%		8.1	%
Return on average tangible common equity(b)(d)		9.7	%		9.9	%		20.6	%		12.0	%		9.7	%
Noninterest income as a percent of total revenue		40	%		41	%		55	%		44	%		38	%
Dividend payout ratio		32.5	%		32.5	%		16.3	%		28.3	%		36.1	%
Average total Bancorp shareholders’ equity as a percent of average assets		11.60	%		11.57	%		11.26	%		11.24	%		11.32	%
Tangible common equity(c)(d)(j)		8.64	%		8.55	%		8.59	%		8.33	%		8.33	%
Net interest margin(a)		2.88	%		2.91	%		2.85	%		2.89	%		2.90	%
Efficiency(a)		65.3	%		63.8	%		48.0	%		58.2	%		65.4	%
Effective tax rate		22.8	%		25.0	%		30.7	%		26.0	%		26.1	%
Credit Quality
Net losses charged-off	$	87		$	96		$	80		$	188		$	86
Net losses charged-off as a percent of average portfolio loans and leases		0.37	%		0.42	%		0.34	%		0.80	%		0.37	%
ALLL as a percent of portfolio loans and leases		1.38	%		1.38	%		1.37	%		1.35	%		1.39	%
Allowance for credit losses as a percent of portfolio loans and leases(k)		1.54	%		1.54	%		1.52	%		1.49	%		1.54	%
Nonperforming portfolio assets as a percent of portfolio loans and leases and OREO(e)		0.86	%		0.88	%		0.70	%		0.65	%		0.67	%
Average Balances
Loans and leases, including held for sale	$	94,807		$	94,078		$	94,587		$	94,329		$	92,739
Total securities and other short-term investments		32,040			31,573			31,256			30,102			30,563
Total assets		142,920			141,582			141,973			140,706			139,960
Transaction deposits(f)		94,929			94,680			95,676			94,660			96,460
Core deposits(g)		98,973			98,715			99,728			98,717			100,534
Wholesale funding(h)		23,084			21,936			21,907			21,685			18,330
Bancorp shareholders’ equity		16,584			16,376			15,982			15,815			15,841
	Basel III
	Transitional
Regulatory Capital Ratios(i)
CET1 capital(j)		9.94	%		9.81	%		9.82	%		9.40	%		9.42	%
Tier I risk-based capital(j)		11.03	%		10.91	%		10.93	%		10.49	%		10.51	%
Total risk-based capital(j)		14.66	%		14.66	%		14.13	%		13.68	%		13.69	%
Tier I leverage		9.64	%		9.57	%		9.54	%		9.38	%		9.44	%
CET1 capital (fully phased-in)(j)		9.86	%		9.72	%		9.72	%		9.30	%		9.31	%
Operations
Banking centers		1,191			1,241			1,254			1,295			1,299
ATMs		2,514			2,556			2,593			2,650			2,630
Full-time equivalent employees		18,051			18,200			18,261			18,311			18,527

(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 AOCI).

(d) The ratios have been included herein to facilitate a greater understanding of the Bancorp’s capital structure and financial condition. Non-GAAP measure; see discussion of non-GAAP measures and Reg. G reconciliation beginning on page 33.

(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, other short-term borrowings and long-term debt.

(i) Current period regulatory capital ratios are estimates.

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

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

20

Fifth Third Bancorp and Subsidiaries

Consolidated Statements of Income

$ in millions

(unaudited)

	For the Three Months Ended						% Change				Year to Date				% Change
	June 2016		March 2016		June 2015		Seq		Yr/Yr		June 2016		June 2015		Yr/Yr
Interest Income
Interest and fees on loans and leases	$	808	$	804	$	782		—		3%	$	1,613	$	1,560		3%
Interest on securities		236		232		219		2%		8%		468		407		15%
Interest on other short-term investments		2		2		2		—		—		4		6		(33%)
Total interest income		1,046		1,038		1,003		1%		4%		2,085		1,973		6%
Interest Expense
Interest on deposits		50		49		46		2%		9%		99		96		3%
Interest on federal funds purchased		1		1		—		—		100%		1		—		100%
Interest on other short-term borrowings		3		3		1		—		NM		7		1		NM
Interest on long-term debt		90		82		69		10%		30%		173		142		22%
Total interest expense		144		135		116		7%		24%		280		239		17%
Net Interest Income		902		903		887		—		2%		1,805		1,734		4%
Provision for loan and lease losses		91		119		79		(24%)		15%		210		148		42%
Net Interest Income After Provision for Loan and Lease Losses		811		784		808		3%		—		1,595		1,586		1%
Noninterest Income
Service charges on deposits		138		137		139		1%		(1%)		274		274		—
Corporate banking revenue		117		102		113		15%		4%		219		176		24%
Mortgage banking net revenue		75		78		117		(4%)		(36%)		154		203		(24%)
Wealth and asset management revenue		101		102		105		(1%)		(4%)		203		212		(4%)
Card and processing revenue		82		79		77		4%		6%		161		148		9%
Other noninterest income		80		136		1		(41%)		NM		215		165		30%
Securities gains, net		6		3		4		100%		50%		9		9		—
Total noninterest income		599		637		556		(6%)		8%		1,235		1,187		4%
Noninterest Expense
Salaries, wages and incentives		407		403		383		1%		6%		810		752		8%
Employee benefits		85		100		78		(15%)		9%		185		176		5%
Net occupancy expense		75		77		83		(3%)		(10%)		152		162		(6%)
Technology and communications		60		56		54		7%		11%		116		109		6%
Equipment expense		30		30		31		—		(3%)		60		61		(2%)
Card and processing expense		37		35		38		6%		(3%)		72		74		(3%)
Other noninterest expense		289		285		280		1%		3%		573		537		7%
Total noninterest expense		983		986		947		—		4%		1,968		1,871		5%
Income Before Income Taxes		427		435		417		(2%)		2%		862		902		(4%)
Applicable income tax expense		98		108		108		(9%)		(9%)		206		232		(11%)
Net Income		329		327		309		1%		6%		656		670		(2%)
Less: Net income attributable to noncontrolling interests		(4)		—		(6)		100%		(33%)		(4)		(6)		(33%)
Net Income Attributable to Bancorp		333		327		315		2%		6%		660		676		(2%)
Dividends on preferred stock		23		15		23		53%		—		38		38		—
Net Income Available to Common Shareholders	$	310	$	312	$	292		(1%)		6%	$	622	$	638		(3%)

21

Fifth Third Bancorp and Subsidiaries

Consolidated Statements of Income (Taxable Equivalent)

$ in millions

(unaudited)

	For the Three Months Ended
	June 2016		March 2016		December 2015		September 2015		June 2015
Interest Income
Interest and fees on loans and leases	$	808	$	804	$	797	$	795	$	782
Interest on securities		236		232		231		230		219
Interest on other short-term investments		2		2		2		1		2
Total interest income		1,046		1,038		1,030		1,026		1,003
Taxable equivalent adjustment		6		6		5		5		5
Total interest income (taxable equivalent)		1,052		1,044		1,035		1,031		1,008
Interest Expense
Interest on deposits		50		49		46		44		46
Interest on federal funds purchased		1		1		—		—		—
Interest on other short-term borrowings		3		3		1		1		1
Interest on long-term debt		90		82		84		80		69
Total interest expense		144		135		131		125		116
Net Interest Income (Taxable Equivalent)		908		909		904		906		892
Provision for loan and lease losses		91		119		91		156		79
Net Interest Income (Taxable Equivalent) After Provision for Provision for Loan and Lease Losses		817		790		813		750		813
Noninterest Income
Service charges on deposits		138		137		144		145		139
Corporate banking revenue		117		102		104		104		113
Mortgage banking net revenue		75		78		74		71		117
Wealth and asset management revenue		101		102		102		103		105
Card and processing revenue		82		79		77		77		77
Other noninterest income		80		136		602		213		1
Securities gains, net		6		3		1		—		4
Total noninterest income		599		637		1,104		713		556
Noninterest Expense
Salaries, wages and incentives		407		403		386		387		383
Employee benefits		85		100		74		72		78
Net occupancy expense		75		77		83		77		83
Technology and communications		60		56		59		56		54
Equipment expense		30		30		32		31		31
Card and processing expense		37		35		40		40		38
Other noninterest expense		289		285		289		280		280
Total noninterest expense		983		986		963		943		947
Income Before Income Taxes (Taxable Equivalent)		433		441		954		520		422
Taxable equivalent adjustment		6		6		5		5		5
Income Before Income Taxes		427		435		949		515		417
Applicable income tax expense		98		108		292		134		108
Net Income		329		327		657		381		309
Less: Net Income attributable to noncontrolling interests		(4)		—		—		—		(6)
Net Income Attributable to Bancorp		333		327		657		381		315
Dividends on preferred stock		23		15		23		15		23
Net Income Available to Common Shareholders	$	310	$	312	$	634	$	366	$	292

22

Fifth Third Bancorp and Subsidiaries

Consolidated Balance Sheets

$ in millions, except per share data

(unaudited)

	As of						% Change
	June		March		June
	2016		2016		2015		Seq		Yr/Yr
Assets
Cash and due from banks	$	2,359	$	2,298	$	2,785		3%		(15%)
Available-for-sale and other securities(a)		31,455		29,891		27,987		5%		12%
Held-to-maturity securities(b)		62		64		157		(3%)		(61%)
Trading securities		401		405		370		(1%)		8%
Other short-term investments		1,818		1,778		3,451		2%		(47%)
Loans held for sale		877		803		995		9%		(12%)
Portfolio loans and leases:
Commercial and industrial loans		43,558		43,433		42,800		—		2%
Commercial mortgage loans		6,875		6,864		7,150		—		(4%)
Commercial construction loans		3,706		3,428		2,709		8%		37%
Commercial leases		3,978		3,956		3,881		1%		2%
Residential mortgage loans		14,307		13,895		12,933		3%		11%
Home equity		7,988		8,112		8,547		(2%)		(7%)
Automobile loans		10,671		11,128		11,909		(4%)		(10%)
Credit card		2,172		2,138		2,278		2%		(5%)
Other consumer loans and leases		654		651		496		—		32%
Portfolio loans and leases		93,909		93,605		92,703		—		1%
Allowance for loan and lease losses		(1,299)		(1,295)		(1,293)		—		—
Portfolio loans and leases, net		92,610		92,310		91,410		—		1%
Bank premises and equipment		2,144		2,185		2,298		(2%)		(7%)
Operating lease equipment		756		738		670		2%		13%
Goodwill		2,416		2,416		2,416		—		—
Intangible assets		10		11		13		(9%)		(23%)
Servicing rights		621		685		854		(9%)		(27%)
Other assets		8,096		8,846		8,222		(8%)		(2%)
Total Assets	$	143,625	$	142,430	$	141,628		1%		1%
Liabilities
Deposits:
Demand	$	36,137	$	35,858	$	35,449		1%		2%
Interest checking		24,571		25,182		27,074		(2%)		(9%)
Savings		14,356		14,738		14,976		(3%)		(4%)
Money market		19,125		19,377		17,900		(1%)		7%
Foreign office		453		441		728		3%		(38%)
Other time		4,021		4,049		4,050		(1%)		(1%)
Certificates $100,000 and over		2,778		2,830		2,846		(2%)		(2%)
Other		430		—		—		100%		100%
Total deposits		101,871		102,475		103,023		(1%)		(1%)
Federal funds purchased		108		134		126		(19%)		(14%)
Other short-term borrowings		3,979		3,523		4,136		13%		(4%)
Accrued taxes, interest and expenses		2,187		2,011		1,858		9%		18%
Other liabilities		2,495		2,627		3,356		(5%)		(26%)
Long-term debt		16,231		15,305		13,491		6%		20%
Total Liabilities		126,871		126,075		125,990		1%		1%
Equity
Common stock(c)		2,051		2,051		2,051		—		—
Preferred stock		1,331		1,331		1,331		—		—
Capital surplus		2,754		2,686		2,632		3%		5%
Retained earnings		12,778		12,570		11,564		2%		10%
Accumulated other comprehensive income		889		684		291		30%		NM
Treasury stock		(3,077)		(2,999)		(2,264)		3%		36%
Total Bancorp shareholders’ equity		16,726		16,323		15,605		2%		7%
Noncontrolling interests		28		32		33		(13%)		(15%)
Total Equity		16,754		16,355		15,638		2%		7%
Total Liabilities and Equity	$	143,625	$	142,430	$	141,628		1%		1%
(a) Amortized cost	$	30,101	$	28,838	$	27,483		4%		10%
(b) Market values		62		64		157		(3%)		(61%)
(c) Common shares, stated value $2.22 per share (in thousands):
Authorized		2,000,000		2,000,000		2,000,000		—		—
Outstanding, excluding treasury		766,346		770,471		810,054		(1%)		(5%)
Treasury		157,547		153,422		113,838		3%		38%

23

Fifth Third Bancorp and Subsidiaries

Consolidated Balance Sheets

$ in millions, except per share data

(unaudited)

	As of
	June			March			December			September			June
	2016			2016			2015			2015			2015
Assets
Cash and due from banks	$	2,359		$	2,298		$	2,540		$	2,455		$	2,785
Available-for-sale and other securities(a)		31,455			29,891			29,044			28,799			27,987
Held-to-maturity securities(b)		62			64			70			157			157
Trading securities		401			405			386			374			370
Other short-term investments		1,818			1,778			2,671			1,994			3,451
Loans held for sale		877			803			903			994			995
Portfolio loans and leases:
Commercial and industrial loans		43,558			43,433			42,131			42,948			42,800
Commercial mortgage loans		6,875			6,864			6,957			7,061			7,150
Commercial construction loans		3,706			3,428			3,214			3,101			2,709
Commercial leases		3,978			3,956			3,854			3,898			3,881
Residential mortgage loans		14,307			13,895			13,716			13,392			12,933
Home equity		7,988			8,112			8,301			8,427			8,547
Automobile loans		10,671			11,128			11,493			11,826			11,909
Credit card		2,172			2,138			2,259			2,229			2,278
Other consumer loans and leases		654			651			657			692			496
Portfolio loans and leases		93,909			93,605			92,582			93,574			92,703
Allowance for loan and lease losses		(1,299	)		(1,295	)		(1,272	)		(1,261	)		(1,293	)
Portfolio loans and leases, net		92,610			92,310			91,310			92,313			91,410
Bank premises and equipment		2,144			2,185			2,239			2,264			2,298
Operating lease equipment		756			738			707			680			670
Goodwill		2,416			2,416			2,416			2,416			2,416
Intangible assets		10			11			12			13			13
Servicing rights		621			685			785			757			854
Other assets		8,096			8,846			7,965			8,667			8,222
Total Assets	$	143,625		$	142,430		$	141,048		$	141,883		$	141,628
Liabilities
Deposits:
Demand	$	36,137		$	35,858		$	36,267		$	34,832		$	35,449
Interest checking		24,571			25,182			26,768			24,832			27,074
Savings		14,356			14,738			14,601			14,632			14,976
Money market		19,125			19,377			18,494			18,887			17,900
Foreign office		453			441			464			754			728
Other time		4,021			4,049			4,019			4,041			4,050
Certificates $100,000 and over		2,778			2,830			2,592			2,915			2,846
Other		430			—			—			—			—
Total deposits		101,871			102,475			103,205			100,893			103,023
Federal funds purchased		108			134			151			132			126
Other short-term borrowings		3,979			3,523			1,507			4,904			4,136
Accrued taxes, interest and expenses		2,187			2,011			2,164			1,990			1,858
Other liabilities		2,495			2,627			2,341			2,614			3,356
Long-term debt		16,231			15,305			15,810			15,492			13,491
Total Liabilities		126,871			126,075			125,178			126,025			125,990
Equity
Common stock(c)		2,051			2,051			2,051			2,051			2,051
Preferred stock		1,331			1,331			1,331			1,331			1,331
Capital surplus		2,754			2,686			2,666			2,659			2,632
Retained earnings		12,778			12,570			12,358			11,826			11,564
Accumulated other comprehensive income		889			684			197			522			291
Treasury stock		(3,077	)		(2,999	)		(2,764	)		(2,563	)		(2,264	)
Total Bancorp shareholders’ equity		16,726			16,323			15,839			15,826			15,605
Noncontrolling interests		28			32			31			32			33
Total Equity		16,754			16,355			15,870			15,858			15,638
Total Liabilities and Equity	$	143,625		$	142,430		$	141,048		$	141,883		$	141,628
(a) Amortized cost	$	30,101		$	28,838		$	28,678		$	27,986		$	27,483
(b) Market values		62			64			70			157			157
(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		766,346			770,471			785,080			795,439			810,054
Treasury		157,547			153,422			138,812			128,453			113,838

24

Fifth Third Bancorp and Subsidiaries

Consolidated Statements of Changes in Equity

$ in millions

(unaudited)

	For the Three Months Ended						Year to Date
	June			June			June			June
	2016			2015			2016			2015
Total equity, beginning	$	16,355		$	15,904		$	15,870		$	15,665
Net income attributable to Bancorp		333			315			660			676
Other comprehensive income, net of tax:
Change in unrealized gains and (losses):
Available-for-sale securities		194			(281	)		641			(148	)
Qualifying cash flow hedges		9			(18	)		48			6
Change in accumulated other comprehensive income related to employee benefit plans		2			2			3			4
Comprehensive income		538			18			1,352			538
Cash dividends declared:
Common stock		(100	)		(105	)		(201	)		(211	)
Preferred stock		(23	)		(23	)		(38	)		(38	)
Impact of stock transactions under stock compensation plans, net		14			6			39			26
Shares acquired for treasury		(26	)		(155	)		(265	)		(335	)
Noncontrolling interest		(4	)		(7	)		(3	)		(6	)
Other		—			—			—			(1	)
Total equity, ending	$	16,754		$	15,638		$	16,754		$	15,638

25

Fifth Third Bancorp and Subsidiaries

Average Balance Sheet and Yield Analysis

$ in millions, except share data

(unaudited)

	For the Three Months Ended						% Change
	June		March		June
	2016		2016		2015		Seq		Yr/Yr
Assets
Interest-earning assets:
Commercial and industrial loans	$	43,878	$	43,127	$	42,554		2%		3%
Commercial mortgage loans		6,835		6,908		7,149		(1%)		(4%)
Commercial construction loans		3,551		3,297		2,549		8%		39%
Commercial leases		3,904		3,875		3,776		1%		3%
Residential mortgage loans		14,842		14,405		13,375		3%		11%
Home equity		8,059		8,241		8,655		(2%)		(7%)
Automobile loans		10,887		11,285		11,902		(4%)		(9%)
Credit card		2,198		2,277		2,296		(3%)		(4%)
Other consumer loans and leases		653		663		483		(2%)		35%
Taxable securities		30,002		29,619		27,344		1%		10%
Tax exempt securities		85		78		59		9%		44%
Other short-term investments		1,953		1,876		3,160		4%		(38%)
Total interest-earning assets		126,847		125,651		123,302		1%		3%
Cash and due from banks		2,228		2,335		2,636		(5%)		(15%)
Other assets		15,140		14,869		15,322		2%		(1%)
Allowance for loan and lease losses		(1,295)		(1,273)		(1,300)		2%		—
Total Assets	$	142,920	$	141,582	$	139,960		1%		2%
Liabilities
Interest-bearing liabilities:
Interest checking deposits	$	24,714	$	25,740	$	26,894		(4%)		(8%)
Savings deposits		14,576		14,601		15,156		—		(4%)
Money market deposits		19,243		18,655		18,071		3%		6%
Foreign office deposits		484		483		955		—		(49%)
Other time deposits		4,044		4,035		4,074		—		(1%)
Certificates $100,000 and over		2,819		2,815		2,558		—		10%
Other deposits		467		—		—		100%		100%
Federal funds purchased		693		608		326		14%		NM
Other short-term borrowings		3,754		3,564		1,705		5%		NM
Long-term debt		15,351		14,949		13,741		3%		12%
Total interest-bearing liabilities		86,145		85,450		83,480		1%		3%
Demand deposits		35,912		35,201		35,384		2%		1%
Other liabilities		4,247		4,524		5,215		(6%)		(19%)
Total Liabilities		126,304		125,175		124,079		1%		2%
Total Equity		16,616		16,407		15,881		1%		5%
Total Liabilities and Equity	$	142,920	$	141,582	$	139,960		1%		2%
	For the Three Months Ended						bps Change
Yield Analysis	June		March		June
	2016		2016		2015		Seq		Yr/Yr
Interest-earning assets:
Commercial and industrial loans(a)		3.25%		3.23%		3.14%		2		11
Commercial mortgage loans(a)		3.28%		3.27%		3.22%		1		6
Commercial construction loans(a)		3.36%		3.38%		3.17%		(2)		19
Commercial leases(a)		2.71%		2.77%		2.83%		(6)		(12)
Residential mortgage loans		3.57%		3.63%		3.69%		(6)		(12)
Home equity		3.81%		3.80%		3.66%		1		15
Automobile loans		2.68%		2.65%		2.65%		3		3
Credit card		10.47%		10.64%		10.33%		(17)		14
Other consumer loans and leases		6.36%		6.27%		8.49%		9		(213)
Total loans and leases		3.45%		3.46%		3.41%		(1)		4
Taxable securities		3.16%		3.14%		3.20%		2		(4)
Tax exempt securities(a)		4.09%		4.32%		4.82%		(23)		(73)
Other short-term investments		0.43%		0.42%		0.25%		1		18
Total interest-earning assets		3.34%		3.34%		3.28%		—		6
Interest-bearing liabilities:
Interest checking deposits		0.22%		0.23%		0.19%		(1)		3
Savings deposits		0.05%		0.04%		0.05%		1		—
Money market deposits		0.26%		0.25%		0.23%		1		3
Foreign office deposits		0.15%		0.15%		0.14%		—		1
Other time deposits		1.24%		1.22%		1.24%		2		—
Certificates $100,000 and over		1.29%		1.28%		1.24%		1		5
Other deposits		0.40%		0.00%		0.00%		40		40
Federal funds purchased		0.39%		0.36%		0.12%		3		27
Other short-term borrowings		0.36%		0.39%		0.12%		(3)		24
Long-term debt		2.36%		2.22%		2.04%		14		32
Total interest-bearing liabilities		0.67%		0.64%		0.56%		3		11
Ratios:
Net interest margin (taxable equivalent)		2.88%		2.91%		2.90%		(3)		(2)
Net interest rate spread (taxable equivalent)		2.67%		2.70%		2.72%		(3)		(5)
Interest-bearing liabilities to interest-earning assets		67.91%		68.01%		67.70%		(10)		21

(a) Presented on a fully taxable equivalent basis.

26

Fifth Third Bancorp and Subsidiaries

Average Balance Sheet and Yield Analysis

$ in millions, except share data

(unaudited)

	Year to Date				% Change
	June		June
	2016		2015		Yr/Yr
Assets
Interest-earning assets:
Commercial and industrial loans	$	43,503	$	42,011		4%
Commercial mortgage loans		6,871		7,198		(5%)
Commercial construction loans		3,424		2,375		44%
Commercial leases		3,889		3,746		4%
Residential mortgage loans		14,623		13,444		9%
Home equity		8,150		8,728		(7%)
Automobile loans		11,086		11,918		(7%)
Credit card		2,238		2,308		(3%)
Other consumer loans and leases		659		474		39%
Taxable securities		29,811		25,235		18%
Tax exempt securities		82		59		39%
Other short-term investments		1,915		4,511		(58%)
Total interest-earning assets		126,251		122,007		3%
Cash and due from banks		2,282		2,733		(17%)
Other assets		15,002		15,366		(2%)
Allowance for loan and lease losses		(1,284)		(1,311)		(2%)
Total Assets	$	142,251	$	138,795		2%
Liabilities
Interest-bearing liabilities:
Interest checking deposits	$	25,227	$	26,889		(6%)
Savings deposits		14,589		15,165		(4%)
Money market deposits		18,949		17,784		7%
Foreign office deposits		484		908		(47%)
Other time deposits		4,039		4,048		—
Certificates $100,000 and over		2,817		2,620		8%
Other deposits		234		—		100%
Federal funds purchased		651		249		NM
Other short-term borrowings		3,659		1,654		NM
Long-term debt		15,148		14,076		8%
Total interest-bearing liabilities		85,797		83,393		3%
Demand deposits		35,557		34,576		3%
Other liabilities		4,386		4,956		(12%)
Total Liabilities		125,740		122,925		2%
Total Equity		16,511		15,870		4%
Total Liabilities and Equity	$	142,251	$	138,795		2%
	Year to Date				bps Change
Yield Analysis	June		June
	2016		2015		Yr/Yr
Interest-earning assets:
Commercial and industrial loans(a)		3.24%		3.15%		9
Commercial mortgage loans(a)		3.28%		3.25%		3
Commercial construction loans(a)		3.37%		3.20%		17
Commercial leases(a)		2.74%		2.87%		(13)
Residential mortgage loans		3.60%		3.76%		(16)
Home equity		3.80%		3.66%		14
Automobile loans		2.66%		2.67%		(1)
Credit card		10.56%		10.28%		28
Other consumer loans and leases		6.31%		9.61%		(330)
Total loans and leases		3.46%		3.43%		3
Taxable securities		3.15%		3.25%		(10)
Tax exempt securities(a)		4.20%		5.03%		(83)
Other short-term investments		0.42%		0.25%		17
Total interest-earning assets		3.34%		3.28%		6
Interest-bearing liabilities:
Interest checking deposits		0.23%		0.20%		3
Savings deposits		0.05%		0.06%		(1)
Money market deposits		0.25%		0.28%		(3)
Foreign office deposits		0.15%		0.17%		(2)
Other time deposits		1.23%		1.20%		3
Certificates $100,000 and over		1.29%		1.20%		9
Other deposits		0.40%		0.00%		40
Federal funds purchased		0.37%		0.11%		26
Other short-term borrowings		0.37%		0.11%		26
Long-term debt		2.29%		2.04%		25
Total interest-bearing liabilities		0.66%		0.58%		8
Ratios:
Net interest margin (taxable equivalent)		2.89%		2.88%		1
Net interest rate spread (taxable equivalent)		2.68%		2.70%		(2)
Interest-bearing liabilities to interest-earning assets		67.96%		68.35%		(39)

(a) Presented on a fully taxable equivalent basis.

27

Fifth Third Bancorp and Subsidiaries

Average Balance Sheet and Yield Analysis

$ in millions, except share data

(unaudited)

	For the Three Months Ended
	June		March		December		September		June
	2016		2016		2015		2015		2015
Assets
Interest-earning assets:
Commercial and industrial loans	$	43,878	$	43,127	$	43,175	$	43,162	$	42,554
Commercial mortgage loans		6,835		6,908		7,053		7,038		7,149
Commercial construction loans		3,551		3,297		3,141		2,966		2,549
Commercial leases		3,904		3,875		3,841		3,847		3,776
Residential mortgage loans		14,842		14,405		14,315		13,976		13,375
Home equity		8,059		8,241		8,394		8,521		8,655
Automobile loans		10,887		11,285		11,674		11,881		11,902
Credit card		2,198		2,277		2,320		2,277		2,296
Other consumer loans and leases		653		663		674		661		483
Taxable securities		30,002		29,619		28,951		28,251		27,344
Tax exempt securities		85		78		52		52		59
Other short-term investments		1,953		1,876		2,253		1,799		3,160
Total interest-earning assets		126,847		125,651		125,843		124,431		123,302
Cash and due from banks		2,228		2,335		2,466		2,503		2,636
Other assets		15,140		14,869		14,925		15,064		15,322
Allowance for loan and lease losses		(1,295)		(1,273)		(1,261)		(1,292)		(1,300)
Total Assets	$	142,920	$	141,582	$	141,973	$	140,706	$	139,960
Liabilities
Interest-bearing liabilities:
Interest checking deposits	$	24,714	$	25,740	$	25,296	$	25,590	$	26,894
Savings deposits		14,576		14,601		14,615		14,868		15,156
Money market deposits		19,243		18,655		18,775		18,253		18,071
Foreign office deposits		484		483		736		718		955
Other time deposits		4,044		4,035		4,052		4,057		4,074
Certificates $100,000 and over		2,819		2,815		3,305		2,924		2,558
Other deposits		467		—		7		222		—
Federal funds purchased		693		608		1,182		1,978		326
Other short-term borrowings		3,754		3,564		1,675		1,897		1,705
Long-term debt		15,351		14,949		15,738		14,664		13,741
Total interest-bearing liabilities		86,145		85,450		85,381		85,171		83,480
Demand deposits		35,912		35,201		36,254		35,231		35,384
Other liabilities		4,247		4,524		4,325		4,458		5,215
Total Liabilities		126,304		125,175		125,960		124,860		124,079
Total Equity		16,616		16,407		16,013		15,846		15,881
Total Liabilities and Equity	$	142,920	$	141,582	$	141,973	$	140,706	$	139,960
Yield Analysis
Interest-earning assets:
Commercial and industrial loans(a)		3.25%		3.23%		3.12%		3.11%		3.14%
Commercial mortgage loans(a)		3.28%		3.27%		3.11%		3.17%		3.22%
Commercial construction loans(a)		3.36%		3.38%		3.18%		3.13%		3.17%
Commercial leases(a)		2.71%		2.77%		2.68%		2.72%		2.83%
Residential mortgage loans		3.57%		3.63%		3.62%		3.63%		3.69%
Home equity		3.81%		3.80%		3.57%		3.61%		3.66%
Automobile loans		2.68%		2.65%		2.67%		2.62%		2.65%
Credit card		10.47%		10.64%		10.17%		10.38%		10.33%
Other consumer loans and leases		6.36%		6.27%		6.95%		6.81%		8.49%
Total loans and leases		3.45%		3.46%		3.36%		3.36%		3.41%
Taxable securities		3.16%		3.14%		3.16%		3.23%		3.20%
Tax exempt securities(a)		4.09%		4.32%		5.69%		5.20%		4.82%
Other short-term investments		0.43%		0.42%		0.28%		0.23%		0.25%
Total interest-earning assets		3.34%		3.34%		3.26%		3.29%		3.28%
Interest-bearing liabilities:
Interest checking deposits		0.22%		0.23%		0.19%		0.18%		0.19%
Savings deposits		0.05%		0.04%		0.05%		0.05%		0.05%
Money market deposits		0.26%		0.25%		0.22%		0.21%		0.23%
Foreign office deposits		0.15%		0.15%		0.14%		0.14%		0.14%
Other time deposits		1.24%		1.22%		1.20%		1.19%		1.24%
Certificates $100,000 and over		1.29%		1.28%		1.09%		1.16%		1.24%
Other deposits		0.40%		0.00%		0.09%		0.16%		0.00%
Federal funds purchased		0.39%		0.36%		0.12%		0.14%		0.12%
Other short-term borrowings		0.36%		0.39%		0.12%		0.13%		0.12%
Long-term debt		2.36%		2.22%		2.12%		2.16%		2.04%
Total interest-bearing liabilities		0.67%		0.64%		0.61%		0.58%		0.56%
Ratios:
Net interest margin (taxable equivalent)		2.88%		2.91%		2.85%		2.89%		2.90%
Net interest rate spread (taxable equivalent)		2.67%		2.70%		2.65%		2.71%		2.72%
Interest-bearing liabilities to interest-earning assets		67.91%		68.01%		67.85%		68.45%		67.70%

(a) Presented on a fully taxable equivalent basis.

28

Fifth Third Bancorp and Subsidiaries

Summary of Loans and Leases

$ in millions

(unaudited)

	For the Three Months Ended
	June		March		December		September		June
	2016		2016		2015		2015		2015
Average Portfolio Loans and Leases
Commercial loans and leases:
Commercial and industrial loans	$	43,876	$	43,089	$	43,154	$	43,149	$	42,550
Commercial mortgage loans		6,831		6,886		7,032		7,023		7,148
Commercial construction loans		3,551		3,297		3,141		2,965		2,549
Commercial leases		3,898		3,874		3,839		3,846		3,776
Total commercial loans and leases		58,156		57,146		57,166		56,983		56,023
Consumer loans and leases:
Residential mortgage loans		14,046		13,788		13,504		13,144		12,831
Home equity		8,054		8,217		8,360		8,479		8,654
Automobile loans		10,887		11,283		11,670		11,877		11,902
Credit card		2,134		2,179		2,218		2,277		2,296
Other consumer loans and leases		654		662		676		613		467
Total consumer loans and leases		35,775		36,129		36,428		36,390		36,150
Total average portfolio loans and leases	$	93,931	$	93,275	$	93,594	$	93,373	$	92,173
Average loans held for sale	$	876	$	803	$	993	$	956	$	566
End of Period Portfolio Loans and Leases
Commercial loans and leases:
Commercial and industrial loans	$	43,558	$	43,433	$	42,131	$	42,948	$	42,800
Commercial mortgage loans		6,875		6,864		6,957		7,061		7,150
Commercial construction loans		3,706		3,428		3,214		3,101		2,709
Commercial leases		3,978		3,956		3,854		3,898		3,881
Total commercial loans and leases		58,117		57,681		56,156		57,008		56,540
Consumer loans and leases:
Residential mortgage loans		14,307		13,895		13,716		13,392		12,933
Home equity		7,988		8,112		8,301		8,427		8,547
Automobile loans		10,671		11,128		11,493		11,826		11,909
Credit card		2,172		2,138		2,259		2,229		2,278
Other consumer loans and leases		654		651		657		692		496
Total consumer loans and leases		35,792		35,924		36,426		36,566		36,163
Total portfolio loans and leases	$	93,909	$	93,605	$	92,582	$	93,574	$	92,703
Total loans held for sale	$	877	$	803	$	903	$	994	$	995
Operating lease equipment	$	756	$	738	$	707	$	680	$	670
Loans and Leases Serviced for Others:(a)
Commercial and industrial loans	$	567	$	552	$	588	$	589	$	594
Commercial mortgage loans		229		231		239		260		266
Commercial construction loans		24		26		27		26		25
Commercial leases		282		262		256		252		260
Residential mortgage loans		56,170		57,758		59,024		60,301		61,727
Automobile loans		83		102		122		146		174
Total loans and leases serviced for others		57,355		58,931		60,256		61,574		63,046
Total loans and leases serviced	$	152,897	$	154,077	$	154,448	$	156,822	$	157,414
								��

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

29

Fifth Third Bancorp and Subsidiaries

Regulatory Capital

$ in millions

(unaudited)

	Basel III Transitional
	As of
	June			March			December			September			June
	2016(a)			2016			2015			2015			2015
Regulatory capital:
Common stock and related surplus (net of treasury stock)	$	1,728		$	1,738		$	1,953		$	2,147		$	2,419
Retained earnings		12,778			12,570			12,358			11,826			11,564
Common equity tier I capital adjustments and deductions		(2,394	)		(2,394	)		(2,394	)		(2,399	)		(2,401	)
CET1 capital		12,112			11,914			11,917			11,574			11,582
Additional tier I capital		1,331			1,330			1,343			1,340			1,340
Tier I capital		13,443			13,244			13,260			12,914			12,922
Tier II capital		4,414			4,553			3,874			3,935			3,909
Total regulatory capital	$	17,857		$	17,797		$	17,134		$	16,849		$	16,831
Risk-weighted assets(b)	$	121,824		$	121,432		$	121,290		$	123,148		$	122,986
Ratios:
Average shareholders’ equity to average assets		11.60	%		11.57	%		11.26	%		11.24	%		11.32	%
Regulatory capital ratios:
	Basel III
	Transitional
Fifth Third Bancorp
CET1 capital(b)		9.94	%		9.81	%		9.82	%		9.40	%		9.42	%
Tier I risk-based capital(b)		11.03	%		10.91	%		10.93	%		10.49	%		10.51	%
Total risk-based capital(b)		14.66	%		14.66	%		14.13	%		13.68	%		13.69	%
Tier I leverage		9.64	%		9.57	%		9.54	%		9.38	%		9.44	%
CET1 capital (fully phased-in)(b)(c)		9.86	%		9.72	%		9.72	%		9.30	%		9.31	%
Fifth Third Bank
Tier I risk-based capital(b)		11.83	%		11.79	%		11.92	%		11.39	%		11.25	%
Total risk-based capital(b)		13.67	%		13.63	%		13.12	%		12.55	%		12.44	%
Tier I leverage		10.37	%		10.39	%		10.43	%		10.21	%		10.14	%

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

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

(c) This ratio has been included herein to facilitate a greater understanding of the Bancorp’s capital structure and financial condition. Non-GAAP measure; see discussion of non-GAAP measures and Reg. G reconciliation beginning on page 33.

30

Fifth Third Bancorp and Subsidiaries

Summary of Credit Loss Experience

$ in millions

(unaudited)

	For the Three Months Ended
	June 2016		March 2016		December 2015		September 2015		June 2015
Average portfolio loans and leases:
Commercial and industrial loans	$	43,876	$	43,089	$	43,154	$	43,149	$	42,550
Commercial mortgage loans		6,831		6,886		7,032		7,023		7,148
Commercial construction loans		3,551		3,297		3,141		2,965		2,549
Commercial leases		3,898		3,874		3,839		3,846		3,776
Residential mortgage loans		14,046		13,788		13,504		13,144		12,831
Home equity		8,054		8,217		8,360		8,479		8,654
Automobile loans		10,887		11,283		11,670		11,877		11,902
Credit card		2,134		2,179		2,218		2,277		2,296
Other consumer loans and leases		654		662		676		613		467
Total average portfolio loans and leases	$	93,931	$	93,275	$	93,594	$	93,373	$	92,173
Losses charged-off:
Commercial and industrial loans	($	43)	($	50)	($	38)	($	133)	($	40)
Commercial mortgage loans		(7)		(8)		(7)		(13)		(14)
Commercial construction loans		—		—		—		(3)		—
Commercial leases		(1)		(2)		(1)		—		—
Residential mortgage loans		(5)		(4)		(5)		(6)		(8)
Home equity		(10)		(11)		(13)		(13)		(13)
Automobile loans		(12)		(14)		(13)		(11)		(9)
Credit card		(23)		(23)		(22)		(24)		(24)
Other consumer loans and leases		(4)		(4)		(6)		(6)		(4)
Total losses charged-off	($	105)	($	116)	($	105)	($	209)	($	112)
Recoveries of losses previously charged-off:
Commercial and industrial loans	$	4	$	4	$	8	$	5	$	6
Commercial mortgage loans		1		2		4		2		3
Commercial construction loans		—		—		—		—		—
Commercial leases		—		—		—		—		—
Residential mortgage loans		3		2		2		3		3
Home equity		4		3		4		4		4
Automobile loans		4		5		4		4		5
Credit card		2		3		3		3		3
Other consumer loans and leases		—		1		—		—		2
Total recoveries of losses previously charged-off	$	18	$	20	$	25	$	21	$	26
Net losses charged-off:
Commercial and industrial loans	($	39)	($	46)	($	30)	($	128)	($	34)
Commercial mortgage loans		(6)		(6)		(3)		(11)		(11)
Commercial construction loans		—		—		—		(3)		—
Commercial leases		(1)		(2)		(1)		—		—
Residential mortgage loans		(2)		(2)		(3)		(3)		(5)
Home equity		(6)		(8)		(9)		(9)		(9)
Automobile loans		(8)		(9)		(9)		(7)		(4)
Credit card		(21)		(20)		(19)		(21)		(21)
Other consumer loans and leases		(4)		(3)		(6)		(6)		(2)
Total net losses charged-off	($	87)	($	96)	($	80)	($	188)	($	86)
Net losses charged-off as a percent of average portfolio loans and leases:
Commercial and industrial loans		0.36%		0.43%		0.28%		1.17%		0.32%
Commercial mortgage loans		0.38%		0.35%		0.19%		0.66%		0.62%
Commercial construction loans		0.00%		(0.06%)		0.00%		0.43%		0.00%
Commercial leases		0.09%		0.20%		0.15%		0.00%		(0.01%)
Residential mortgage loans		0.06%		0.07%		0.08%		0.10%		0.16%
Home equity		0.30%		0.36%		0.39%		0.42%		0.41%
Automobile loans		0.26%		0.32%		0.31%		0.23%		0.14%
Credit card		3.92%		3.73%		3.40%		3.77%		3.62%
Other consumer loans and leases		2.42%		2.28%		3.10%		3.52%		2.45%
Total net losses charged-off as a percent of average portfolio loans and leases		0.37%		0.42%		0.34%		0.80%		0.37%

31

Fifth Third Bancorp and Subsidiaries

Asset Quality

$ in millions

(unaudited)

		For the Three Months Ended
		June		March		December		September		June
		2016		2016		2015		2015		2015
Allowance for Credit Losses
Allowance for loan and lease losses, beginning		$	1,295	$	1,272	$	1,261	$	1,293	$	1,300
Total net losses charged-off			(87)		(96)		(80)		(188)		(86)
Provision for loan and lease losses			91		119		91		156		79
Allowance for loan and lease losses, ending		$	1,299	$	1,295	$	1,272	$	1,261	$	1,293
Reserve for unfunded commitments, beginning		$	144	$	138	$	134	$	132	$	130
Provision for unfunded commitments			7		6		4		2		2
Reserve for unfunded commitments, ending		$	151	$	144	$	138	$	134	$	132
Components of allowance for credit losses:
Allowance for loan and lease losses		$	1,299	$	1,295	$	1,272	$	1,261	$	1,293
Reserve for unfunded commitments			151		144		138		134		132
Total allowance for credit losses		$	1,450	$	1,439	$	1,410	$	1,395	$	1,425
		As of
		June		March		December		September		June
		2016		2016		2015		2015		2015
Nonperforming Assets and Delinquent Loans
Nonaccrual portfolio loans and leases:
Commercial and industrial loans		$	254	$	278	$	82	$	47	$	61
Commercial mortgage loans			39		51		56		60		49
Commercial construction loans			—		—		—		—		—
Commercial leases			4		4		—		2		2
Residential mortgage loans			27		25		28		31		35
Home equity			61		61		62		65		70
Total nonaccrual portfolio loans and leases (excludes restructured loans)			385		419		228		205		217
Nonaccrual restructured portfolio commercial loans and leases			242		210		203		177		175
Nonaccrual restructured portfolio consumer loans and leases			66		72		75		76		83
Total nonaccrual portfolio loans and leases			693		701		506		458		475
Repossessed property			15		17		18		17		16
OREO			97		107		123		131		135
Total nonperforming portfolio assets	��		805		825		647		606		626
Nonaccrual loans held for sale			20		3		1		1		1
Nonaccrual restructured loans held for sale			—		2		11		1		—
Total nonperforming assets		$	825	$	830	$	659	$	608	$	627
Restructured portfolio consumer loans and leases (accrual)		$	982	$	998	$	979	$	973	$	970
Restructured portfolio commercial loans and leases (accrual)		$	431	$	461	$	491	$	571	$	769
90 days past due loans and leases:
Commercial and industrial loans		$	2	$	3	$	7	$	3	$	2
Commercial mortgage loans			—		—		—		2		—
Commercial construction loans			—		—		—		—		—
Commercial leases			—		—		—		—		—
Total commercial loans and leases			2		3		7		5		2
Residential mortgage loans			38		44		40		40		43
Home equity			—		—		—		—		—
Automobile loans			7		8		10		8		8
Credit card			18		18		18		17		17
Other consumer loans and leases			—		—		—		—		—
Total consumer loans and leases			63		70		68		65		68
Total 90 days past due loans and leases(b)		$	65	$	73	$	75	$	70	$	70
Ratios
Net losses charged-off as a percent of average portfolio loans and leases			0.37%		0.42%		0.34%		0.80%		0.37%
Allowance for loan and lease losses:
As a percent of portfolio loans and leases			1.38%		1.38%		1.37%		1.35%		1.39%
As a percent of nonperforming loans and leases(a)			188%		185%		252%		275%		272%
As a percent of nonperforming assets(a)			161%		157%		197%		208%		206%
Nonperforming loans and leases as a percent of portfolio loans and leases and OREO(a)			0.74%		0.75%		0.55%		0.49%		0.51%
Nonperforming assets as a percent of portfolio loans, leases and other assets, including OREO(a)			0.86%		0.88%		0.70%		0.65%		0.67%
Nonperforming assets as a percent of total loans, leases and other assets, including OREO			0.87%		0.88%		0.70%		0.64%		0.67%
Allowance for credit losses as a percent of nonperforming assets			180%		174%		218%		230%		228%

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

(b) Does not include loans held for sale.

32

Use of Non-GAAP Financial Measures

In addition to GAAP measures, management considers various Non-GAAP measures when evaluating the performance of the business, including : “pre-provision net revenue,” “noninterest income excluding certain items,” “tangible net income available to common shareholders,” “average tangible common equity,” “tangible equity,” and “Common Equity Tier 1,” and certain ratios derived from these measures.

Pre-provision net revenue is defined as net interest income plus noninterest income minus noninterest expense. Management believes this measure is important because it provides a ready view of pre-tax earnings before the impact of provision expense. Noninterest income excluding certain items is provided by management to assist the reader in indentifying significant, unusual, or large transactions that impacted noninterest income.

Management considers various measures when evaluating capital utilization and adequacy, including the tangible equity ratio and tangible common equity ratio, in addition to capital ratios defined by the U.S. banking agencies. These calculations are intended to complement the capital ratios defined by the U.S. banking agencies for both absolute and comparative purposes. Because U.S. GAAP does not include capital ratio measures, the Bancorp believes there are no comparable U.S. GAAP financial measures to these ratios. These ratios are not formally defined by U.S. GAAP or codified in the federal banking regulations and, therefore, are considered to be Non-GAAP financial measures.

Management believes return on average tangible common equity is an important measure for comparative purposes with other financial institutions because it calculates the return available to common shareholders without the impact of intangible assets and their related amortization. This is useful for evaluating the performance of a business consistently, whether acquired or developed internally.

The Bancorp became subject to the Basel III Final Rule on January 1, 2015 which defined various regulatory capital ratios including the Common Equity Tier 1 (“CET1”) ratio. The CET1 capital ratio has transition provisions that will be phased out over time. CET1 capital ratio is presented on a fully phased-in basis for comparative purposes with other organizations. The Bancorp considers the fully phased-in CET1 ratio a Non-GAAP measure since it is not the CET1 ratio in effect for the periods presented. Since analysts and the U.S. banking agencies may assess the Bancorp’s capital adequacy using these ratios, management believes they are useful to provide investors the ability to assess its capital adequacy on the same basis.

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

Please see page 34 for Reg. G reconciliations of all Non-GAAP measures used in this release to the most directly comparable GAAP measures.

33

Fifth Third Bancorp and Subsidiaries

Regulation G Non-GAAP Reconciliation

$ and shares in millions

(unaudited)

		For the Three Months Ended
		June 2016		March 2016		December 2015		September 2015		June 2015
Net interest income (U.S. GAAP)		$	902	$	903	$	899	$	901	$	887
Add:	Noninterest income		599		637		1,104		713		556
Less:	Noninterest expense		(983)		(986)		(963)		(943)		(947)
Pre-provision net revenue			518		554		1,040		671		496
Net income available to common shareholders (U.S. GAAP)			310		312		634		366		292
Add:	Intangible amortization, net of tax		—		—		—		—		—
Tangible net income available to common shareholders			310		312		634		366		292
Tangible net income available to common shareholders (annualized) (a)			1,247		1,255		2,515		1,452		1,171
Average Bancorp shareholders’ equity (U.S. GAAP)			16,584		16,376		15,982		15,815		15,841
Less:	Average preferred stock		(1,331)		(1,331)		(1,331)		(1,331)		(1,331)
	Average goodwill		(2,416)		(2,416)		(2,416)		(2,416)		(2,416)
	Average intangible assets and other servicing rights		(11)		(12)		(13)		(14)		(15)
Average tangible common equity (b)			12,826		12,617		12,222		12,054		12,079
Total Bancorp shareholders’ equity (U.S. GAAP)			16,726		16,323		15,839		15,826		15,605
Less:	Preferred stock		(1,331)		(1,331)		(1,331)		(1,331)		(1,331)
	Goodwill		(2,416)		(2,416)		(2,416)		(2,416)		(2,416)
	Intangible assets and other servicing rights		(11)		(12)		(13)		(13)		(14)
Tangible common equity, including unrealized gains / losses (c)			12,968		12,564		12,079		12,066		11,844
Less:	Accumulated other comprehensive income		(889)		(684)		(197)		(522)		(291)
Tangible common equity, excluding unrealized gains / losses (d)			12,079		11,880		11,882		11,544		11,553
Add:	Preferred stock		1,331		1,331		1,331		1,331		1,331
Tangible equity (e)			13,410		13,211		13,213		12,875		12,884
Total assets (U.S. GAAP)			143,625		142,430		141,048		141,883		141,628
Less:	Goodwill		(2,416)		(2,416)		(2,416)		(2,416)		(2,416)
	Intangible assets and other servicing rights		(11)		(12)		(13)		(13)		(14)
Tangible assets, including unrealized gains / losses (f)			141,198		140,002		138,619		139,454		139,198
Less:	Accumulated other comprehensive income / loss, before tax		(1,368)		(1,052)		(303)		(803)		(448)
Tangible assets, excluding unrealized gains / losses (g)		$	139,830	$	138,950	$	138,316		138,651		138,750
Common shares outstanding (h)			766		770		785		795		810
		Basel III
		Transitional
Risk-weighted assets (actual) (i) (1)		$	121,824	$	121,432	$	121,290	$	123,148	$	122,986
Ratios:
Return on average tangible common equity (a) / (b)			9.7%		9.9%		20.6%		12.0%		9.7%
Tangible equity (e) / (g)			9.59%		9.51%		9.55%		9.29%		9.29%
Tangible common equity (excluding unrealized gains/losses) (d) / (g)			8.64%		8.55%		8.59%		8.33%		8.33%
Tangible common equity (including unrealized gains/losses) (c) / (f)			9.18%		8.97%		8.71%		8.65%		8.51%
Tangible common equity as a percent of risk-weighted assets (excluding unrealized gains/losses) (d) / (i)			9.92%		9.78%		9.80%		9.37%		9.39%
Tangible book value per share (c) / (h)		$	16.93	$	16.32	$	15.39	$	15.18	$	14.62
Basel III Final Rule - Transition to fully phased-in
		June 2016		March 2016		December 2015		September 2015		June 2015
CET1 capital (transitional)		$	12,112	$	11,914	$	11,917	$	11,574	$	11,582
Less: Adjustments to CET1 capital from transitional to fully phased-in (2)			(4)		(5)		(8)		(11)		(12)
CET1 capital (fully phased-in) (j)			12,108		11,909		11,909		11,563		11,570
Risk-weighted assets (transitional)			121,824		121,432		121,290		123,148		122,986
Add: Adjustments to risk-weighted assets from transitional to fully phased-in (3)			932		1,027		1,178		1,136		1,280
Risk-weighted assets (fully phased-in) (k)		$	122,756	$	122,459	$	122,468	$	124,284	$	124,266
Estimated CET1 capital ratio under Basel III Final Rule (fully phased-in) (j)/(k)			9.86%		9.72%		9.72%		9.30%		9.31%

(1) 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, along with the measure for market risk, resulting in the Bancorp’s total risk-weighted assets.

(2) Primarily relates to disallowed intangible assets (other than goodwill and MSRs, net of associated deferred tax liabilities).

(3) Primarily relates to higher risk-weighting for MSRs.

34

Fifth Third Bancorp and Subsidiaries

Segment Presentation

$ in millions

(unaudited)

For the three months ended June 30, 2016	Commercial Banking		Branch Banking(c)		Consumer Lending(d)		Wealth and Asset Management		Other/ Eliminations		Total
Net interest income(a)	$	466	$	433	$	62	$	44	($	97)	$	908
Provision for loan and lease losses		(72)		(35)		(9)		(1)		26		(91)
Net interest income after provision for loan and lease losses		394		398		53		43		(71)		817
Total noninterest income		236		214		80		100		(31)		599
Total noninterest expense		(355)		(409)		(122)		(108)		11		(983)
Income (loss) before income taxes		275		203		11		35		(91)		433
Applicable income tax expense(a)		(49)		(71)		(4)		(12)		32		(104)
Net income (loss)		226		132		7		23		(59)		329
Less: Net income attributable to noncontrolling interests		—		—		—		—		(4)		(4)
Net income (loss) attributable to Bancorp		226		132		7		23		(55)		333
Dividends on preferred stock		—		—		—		—		23		23
Net income (loss) available to common shareholders	$	226	$	132	$	7	$	23	($	78)	$	310
For the three months ended March 31, 2016	Commercial Banking		Branch Banking(c)		Consumer Lending(d)		Wealth and Asset Management		Other/ Eliminations		Total
Net interest income(a)	$	457	$	426	$	60	$	43	($	77)	$	909
Provision for loan and lease losses		(65)		(34)		(12)		—		(8)		(119)
Net interest income after provision for loan and lease losses		392		392		48		43		(85)		790
Total noninterest income		223		189		83		100		42		637
Total noninterest expense		(363)		(411)		(118)		(107)		13		(986)
Income (loss) before income taxes		252		170		13		36		(30)		441
Applicable income tax expense(a)		(41)		(60)		(5)		(13)		5		(114)
Net income (loss)		211		110		8		23		(25)		327
Less: Net income attributable to noncontrolling interests		—		—		—		—		—		—
Net income (loss) attributable to Bancorp		211		110		8		23		(25)		327
Dividends on preferred stock		—		—		—		—		15		15
Net income (loss) available to common shareholders	$	211	$	110	$	8	$	23	($	40)	$	312
For the three months ended December 31, 2015(b)	Commercial Banking		Branch Banking(c)		Consumer Lending(d)		Wealth and Asset Management		Other/ Eliminations		Total
Net interest income(a)	$	425	$	406	$	63	$	37	($	27)	$	904
Provision for loan and lease losses		(27)		(35)		(11)		—		(18)		(91)
Net interest income after provision for loan and lease losses		398		371		52		37		(45)		813
Total noninterest income		223		186		80		101		514		1,104
Total noninterest expense		(338)		(393)		(116)		(112)		(4)		(963)
Income before income taxes		283		164		16		26		465		954
Applicable income tax expense(a)		(55)		(57)		(6)		(9)		(170)		(297)
Net income		228		107		10		17		295		657
Less: Net income attributable to noncontrolling interests		—		—		—		—		—		—
Net income attributable to Bancorp		228		107		10		17		295		657
Dividends on preferred stock		—		—		—		—		23		23
Net income available to common shareholders	$	228	$	107	$	10	$	17	$	272	$	634
For the three months ended September 30, 2015(b)	Commercial Banking		Branch Banking(c)		Consumer Lending(d)		Wealth and Asset Management		Other/ Eliminations		Total
Net interest income(a)	$	418	$	395	$	62	$	33	($	2)	$	906
Provision for loan and lease losses		(195)		(37)		(11)		—		87		(156)
Net interest income after provision for loan and lease losses		223		358		51		33		85		750
Total noninterest income		228		197		76		102		110		713
Total noninterest expense		(334)		(404)		(107)		(112)		14		(943)
Income before income taxes		117		151		20		23		209		520
Applicable income tax expense(a)		4		(53)		(7)		(9)		(74)		(139)
Net income		121		98		13		14		135		381
Less: Net income attributable to noncontrolling interests		—		—		—		—		—		—
Net income attributable to Bancorp		121		98		13		14		135		381
Dividends on preferred stock		—		—		—		—		15		15
Net income available to common shareholders	$	121	$	98	$	13	$	14	$	120	$	366
For the three months ended June 30, 2015(b)	Commercial Banking		Branch Banking(c)		Consumer Lending(d)		Wealth and Asset Management		Other/ Eliminations		Total
Net interest income(a)	$	407	$	376	$	63	$	29	$	17	$	892
Provision for loan and lease losses		(37)		(36)		(8)		(1)		3		(79)
Net interest income after provision for loan and lease losses		370		340		55		28		20		813
Total noninterest income		232		94		122		103		5		556
Total noninterest expense		(348)		(404)		(113)		(115)		33		(947)
Income before income taxes		254		30		64		16		58		422
Applicable income tax expense(a)		(43)		(11)		(23)		(6)		(30)		(113)
Net income		211		19		41		10		28		309
Less: Net income attributable to noncontrolling interests		—		—		—		—		(6)		(6)
Net income attributable to Bancorp		211		19		41		10		34		315
Dividends on preferred stock		—		—		—		—		23		23
Net income available to common shareholders	$	211	$	19	$	41	$	10	$	11	$	292

(a) Includes taxable equivalent adjustments of $6 million for the three months ended June 30, 2016 and March 31, 2016 and $5 million for the three months ended December 31, 2015, September 30, 2015 and June 30, 2015.

(b) Prior period balances have been adjusted to reflect changes in internal allocation methodologies.

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

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

35