communitycommitment

community development & empowerment

Fifth Third is fully committed to meeting the needs of all the communities it serves. It embraces its obligations to invest in and serve its communities and believes that building strong communities builds a stronger bank.

Fifth Third recently released first-year results of the Community Commitment. The Company reported $7.88 billion of loans and investments, which put Fifth Third ahead of pace to meet its five-year goal of $30 billion. The Company's year one results, as well as details of the Commitment itself, are available on pages 10-11 of this report and online at 53.com/commitment.

A hallmark of Fifth Third's commitment is its promise to provide regular updates to all of its stakeholders, remain open to feedback, and continue to meet regularly with community organizations that have a vested interest in the successful execution of the plan.

AFFORDABLE HOUSING

Fifth Third's mortgage lending commitment designates $11 billion for low- to moderate-income borrowers and census tracts, including a sub-goal focusing on home ownership. The home ownership focus is key, as studies show that home ownership is a necessary component for wealth-building and community revitalization and stabilization.

Fifth Third launched a novel down payment assistance program in 2016, providing 3 percent of the purchase price in mortgage down payment assistance, up to $3,600, for low-income borrowers or those purchasing a home in a low-income area. The Company also laid the groundwork in 2016 for plans to expand the down payment assistance program with all of its mortgage products, including Federal Housing Administration (FHA) loans.

The Company also outlined plans in 2016 to expand into additional state bond programs, which are designed to provide eligible homebuyers a below-market interest rate. Additionally, Fifth Third is evaluating a proposed portfolio product of its own that would serve low- to moderate-income borrowers and facilitate a re-entrance into FHA mortgage lending.

In 2016, the Mortgage team reorganized to sharpen its focus on CRA mortgage strategy and is expected to continue growing in 2017. Using marketplace data and analytics, leadership will ascertain the best locations for mortgage loan originators to support low- to moderate-income consumers and communities.

As the focus on CRA mortgage lending increased in 2016, Fifth Third emphasized training for new and existing team members to understand what is and what is not considered CRA lending.

Fifth Third works to help educate community members, too. Team members often visit the community to conduct affordable housing workshops, mortgage seminars and Empower U courses on preparing for homeownership. Fifth Third used its eBus tours to conduct credit counseling sessions and provide free credit reports.

FIFTH THIRD COMMUNITY DEVELOPMENT CORPORATION

The Fifth Third Community Development Corporation (CDC), a wholly owned, indirect subsidiary of Fifth Third Bancorp, funded $175.5 million in affordable housing, revitalization, historic preservation and small business projects in the Company's footprint states last year. The CDC accomplished this by purchasing low income tax credits primarily through single-investor or multi-investor funds, by purchasing historic tax credits, and by using new market tax credits to benefit the community.

Since inception, the Fifth Third CDC has invested more than $3 billion into local communities. This includes funding over 650 projects, including affordable housing, commercial, retail, office and historic buildings; and the creation or preservation of over 55,000 units of housing through Fifth Third CDC equity investments.

In 2016, the Fifth Third CDC invested $3 million in the North Grove Apartments in Seffner, Florida. North Grove Apartments are an existing 32-unit U.S. Department of Agriculture (USDA) Rural Development, Section 515 project. Through the Section 515 program, the USDA provides essential, decent housing for the lowest income rural residents. Built in 1979, the North Grove Apartments hadn't had renovations completed since it was built. The CDC's investment enabled the substantial rehabilitation to bring the property back to current market conditions.

The Fifth Third CDC invested $8.4 million in the Lake Park City Apartments in Gary, Indiana, in 2016. Lake Park features 80 housing units for seniors, aged 55 and over. The apartments feature a dog park, community room and mind-fit room, and offer social and physical services to its residents like free bike/trike sharing, in-home health care, free smartphones with discounted service plans and free training, and paid membership to the local senior center.

Community Donations

Fifth Third's regions are headquartered in the markets they serve, and therefore, have bankers on the ground close to the needs of those communities. Fifth Third is proud to use its resources to support local communities through donations and sponsorships to help drive positive economic impact as well as support the mission of many nonprofit organizations. The Company directs a significant portion of its community dollars to efforts that are in collaboration with other entities to maximize the impact of the dollars and often for multi-year projects that will improve lives for the long term.

In 2016, Fifth Third and the Fifth Third Foundation made community donations of $19.1 million. Donations ranged from modest donations to support neighborhood fundraisers to multi-year, six-figure donations to help revitalize communities. Fifth Third often supported these dollar infusions with other services, including affordable housing workshops, financial education services and eBus tour visits.

Fifth Third provided $25,000 to the Community Development Collaborative of Greater Columbus, also known as The Collaborative, an intermediary organization that provides grant, loan and technical assistance to support the city's community development corporations. Fifth Third's grant was designated for operational support and sponsorship of The Collaborative's housing development grant program.

Fifth Third also provided $25,000 to support the city of Detroit's 2016 Grow Detroit's Young Talent program. Grow Detroit's Young Talent is a citywide summer jobs program that employs 8,000 young adults between the ages of 14 and 24 for six weeks during the months of July and August. The Company itself employed students where they assisted area nonprofits with programs such as computer training and delivering financial literacy courses in summer camps. Similarly, Fifth Third provided $25,000 in support of a critical after-school and summer program in Orlando, Florida, the All Stars Summer of Dreams Camp. The camp provides comprehensive after-school programs that keep children safe and help them succeed both in school and life.

The Fifth Third Foundation, established in 1948, was the first philanthropic foundation established by a financial services company. In 2016, it supported the community in the areas of community development, education, health and human services, and arts and culture. When Hurricane Matthew devastated the U.S. Southeast and other areas worldwide, the Fifth Third Foundation stepped up to assist with $50,000 of support to relief agencies that were filling a critical need in affected communities. The American Red Cross received a grant of $25,000, as did the Salvation Army.

COMMUNITY LEADER SPONSORSHIPS

Fifth Third recognizes that it only is as strong as the communities it serves. Each year, the Company sponsors community and economic development forums and conferences with the aim of giving its partners access to valuable information and networking opportunities. The Company helps to ensure that select community organizations can participate by providing full scholarships through its Empowering Community Leaders (ECL) Scholarship program.

Through the ECL program, Fifth Third has enabled nearly 90 emerging or long-standing leaders to participate in educational forums and conferences over the past six years. In 2016, 14 scholarships were awarded for individuals to attend conferences and workshops like the National Association of Community and Economic Development Annual (NACEDA) Summit, the Opportunity Finance Network's Annual Conference, Operation HOPE Forum and the Neighborworks National Training Institute.

Annually, Fifth Third financially supports a wide range of national forums and conferences. It supported the Association of Enterprise Opportunities and the National Community Reinvestment Coalition annual conferences in Washington, D.C., in 2016. Within its footprint, Fifth Third also supported the Operation HOPE Forum and Opportunity Finance Network's Annual Conference in Atlanta, and the NACEDA's 9th Annual Summit in Cleveland.