Fifth Third Enters Alabama with Ambitious Growth Plan

New Huntsville Financial Center Kicks Off Multi-Year Strategy to Bring 15 Locations to the Heart of the South

Today, Fifth Third (NASDAQ:FITB) expands its retail presence into Alabama, launching its first financial center in Huntsville and marking a bold new chapter in the Bank's 167-year history. With this milestone, the super-regional expands its retail footprint to 12 states, reinforcing its position as a banking leader.

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Fifth Third's newest Alabama location in the MidCity neighborhood of Huntsville.

The Alabama debut is part of Fifth Third's expansion strategy, which accelerated dramatically in late 2024 when the Bank announced plans to open 200 new retail locations by 2028, primarily in fast-growing Southeast markets. Since then, Fifth Third has secured approximately 80% of its upcoming locations. This expansion will shift Fifth Third's branch location mix, and the Bank anticipates approximately 50% of its branches will be in the Southeast by the end of 2028. Today's opening is the first of 15 financial centers planned across Alabama over the next three years – 10 in Huntsville and five in Birmingham – to build a strong market presence and the foundation for top-tier deposit share in both cities.

Fifth Third's focused approach to organic growth is yielding strong, measurable outcomes. Branches built between 2022 and 2024 are averaging over $25 million in deposit balances within the first 12 months after opening, significantly outpacing expectations. The bank projects deposit growth of approximately $15 billion to $20 billion over the next seven years, driven by continued expansion and maturation of Southeast branch investments.

Huntsville is one of the fastest-growing cities in America, with an average of 11 people relocating to the area every day (according to the U.S. Census Bureau). The growth is fueled by expanding aerospace, defense and technology industries, earning Huntsville the nickname "Rocket City."

"Huntsville is the perfect launch pad for our entry into Alabama, given the community's emphasis on innovation," said Shawn Niehaus, head of consumer banking at Fifth Third. "Our financial centers offer cutting-edge financial solutions with a differentiated customer experience to create deep, long-lasting relationships. At our core, we're a relationship bank, and our connections to our customers and our communities are critical to our success. We're excited to welcome new customers and embed ourselves in the fabric of the local community. By striking a deliberate balance between forward-thinking innovation and deep community investment, we aim to build a stable foundation where progress benefits everyone."

Fifth Third's expansion strategy leverages data and analytics to meet customers' banking needs – from data-driven site selection to innovative branch design. The Bank developed a proprietary Market Strength Index (MSI) and a patented geospatial heat map that pinpoints optimal branch locations within each city. This award-winning tool performs trillions of calculations on thousands of data points to identify new locations that are positioned for long-term success.

Fifth Third's rapidly growing retail footprint supports a complimentary digital and in-person customer experience that bonds customers to the bank. Fifth Third harnesses data and analytics to ensure every customer touchpoint is personalized, informed and productive. Fifth Third's flagship Momentum Banking product combines customer-centric, technology-led innovation and development and was recently recognized by J.D. Power as the No. 1 banking mobile app for user satisfaction among regional banks.¹ With features like Early Pay, free overdraft protection, SmartShield® (security protection) and free estate planning, Fifth Third Momentum Banking provides digital solutions that go beyond everyday banking needs.

When deeper conversations are needed – whether about financial planning, investing or life milestones – customers can meet face-to-face with a dedicated banker at their local financial center. The redesigned centers feature open, welcoming layouts with modular seating and localized design elements that foster more meaningful conversations. Behind the scenes, Fifth Third utilizes proprietary AI-powered software to enable bankers to give more personalized, relevant guidance, boosting customer engagement by 40%.

Fifth Third is laying the foundation for a network of financial opportunity in the state through perfectly placed branches and community engagement. The Bank will bring its brand to life through community-rooted marketing activations across Rocket City, beginning with a grand opening celebration at the MidCity financial center in September.

"Our Southeast expansion over the past decade demonstrates a thoughtful, disciplined growth strategy that prioritizes exceptional customer service and ongoing community investment," said Jamie Leonard, chief operating officer of Fifth Third. "Our approach ensures we build with purpose – establishing density in the right places to meet customers where they are while making a positive impact on the local community. As Alabama continues to grow, we're committed to being a trusted financial partner for those who now call it home."

Learn more about Fifth Third's entry into Alabama at 53.com/Alabama.

About Fifth Third

Fifth Third is a bank that's as long on innovation as it is on history. Since 1858, we've been helping individuals, families, businesses and communities grow through smart financial services that improve lives. Our list of firsts is extensive, and it's one that continues to expand as we explore the intersection of tech-driven innovation, dedicated people and focused community impact. Fifth Third is one of the few U.S.-based banks to have been named among Ethisphere's World's Most Ethical Companies^® for several years. With a commitment to taking care of our customers, employees, communities and shareholders, our goal is not only to be the nation's highest performing regional bank, but to be the bank people most value and trust.

Fifth Third Bank, National Association is a federally chartered institution. Fifth Third Bancorp is the indirect parent company of Fifth Third Bank and its common stock is traded on the NASDAQ^® Global Select Market under the symbol "FITB." Investor information and press releases can be viewed at www.53.com. Deposit and credit products provided by Fifth Third Bank, National Association. Member FDIC.

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Sophie Isherwood (Media Relations)

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Matt Curoe (Investor Relations)

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