Edgar Filing: FIFTH THIRD BANCORP

Free Writing Prospectus

Investor Update

June 18, 2008

Before reviewing this presentation, please carefully review

the cautionary statements preceding the discussion

Free Writing Prospectus

Filed on June 18, 2008

Pursuant to Rule 433

Registration No. 333-141560

Fifth Third Bancorp

Cautionary statement

This

report

may

contain

forward-looking

statements

about

Fifth

Third

Bancorp

and/or

the

company

combined

acquired

entities

within

the

meaning

Sections

27A

the

Securities

Act

1933,

amended,

and

Rule

175

promulgated

thereunder,

and

21E

the

Securities

Exchange

Act

1934,

amended,

and

Rule

3b-6

promulgated

thereunder,

that

involve

inherent

risks

and

uncertainties.

This

report

may

contain

certain

forward-looking

statements

with

respect

the

financial

condition,

results

operations,

plans,

objectives,

future

performance

and

business

Fifth

Third

Bancorp

and/or

the

combined

company

including

statements

preceded

by,

followed

that

include

the

words

phrases

such

“believes,”

“expects,”

“anticipates,”

“plans,”

“trend,”

“objective,”

“continue,”

“remain”

similar

expressions

future

conditional

verbs

such

“will,”

“would,”

“should,”

“could,”

“might,”

“can,”

“may”

similar

expressions.

There

are

number

important

factors

that

could

cause

future

results

differ

materially

from

historical

performance

and

these

forward-looking

statements.

Factors

that

might

cause

such

difference

include,

but

are

not

limited

to:

(1)

general

economic

conditions

and

weakening

the

economy,

specifically

the

real

estate

market,

either

national

the

states

which

Fifth

Third,

one

acquired

entities

and/or

the

combined

company

business,

are

less

favorable

than

expected;

(2)

deteriorating

credit

quality;

(3)

political

developments,

wars

other

hostilities

may

disrupt

increase

volatility

securities

markets

other

economic

conditions;

(4)

changes

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

maintain

required

capital

levels

and

adequate

sources

funding

and

liquidity;

(7)

changes

and

trends

capital

markets;

(8)

competitive

pressures

among

depository

institutions

increase

significantly;

(9)

effects

critical

accounting

policies

and

judgments

and

the

use

estimates

for

results

current

future

periods

;

(10)

changes

accounting

policies

procedures

may

required

the

Financial

Accounting

Standards

Board

other

regulatory

agencies;

(11)

legislative

regulatory

changes

actions,

significant

litigation,

adversely

affect

Fifth

Third,

one

acquired

entities

and/or

the

combined

company

the

businesses

which

Fifth

Third,

one

acquired

entities

and/or

the

combined

company

are

engaged;

(12)

ability

maintain

favorable

ratings

from

rating

agencies;

(13)

fluctuation

Fifth

Third’s

stock

price;

(14)

ability

attract

and

retain

key

personnel;

(15)

ability

receive

dividends

from

its

subsidiaries;

(16)

potentially

dilutive

effect

future

acquisitions

current

shareholders'

ownership

Fifth

Third;

(17)

effects

accounting

financial

results

one

acquired

entities;

(18)

difficulties

combining

the

operations

acquired

entities;

(19)

ability

secure

confidential

information

through

the

use

computer

systems

and

telecommunications

networks;

and

(20)

the

impact

reputational

risk

created

these

developments

such

matters

business

generation

and

retention,

funding

and

liquidity.

Additional

information

concerning

factors

that

could

cause

actual

results

differ

materially

from

those

expressed

implied

the

forward-looking

statements

available

the

Bancorp's

Annual

Report

Form

10-K

for

the

year

ended

December

31,

2007,

filed

with

the

United

States

Securities

and

Exchange

Commission

(SEC).

Copies

this

filing

are

available

cost

the

SEC's

Web

site

www.sec.gov

the

Fifth

Third’s

Web

site

www.53.com.

Fifth

Third

undertakes

obligation

release

revisions

these

forward-looking

statements

reflect

events

circumstances

after

the

date

this

report.

Securities law statement

Fifth Third Bancorp has filed a registration statement (including prospectus) with the SEC for the securities offerings

discussed

this

presentation.

Before

you

would

invest

such

securities,

you

should

read

the

prospectus

that

registration

statement, the related preliminary prospectus supplements and other documents that Fifth Third Bancorp has filed with the

SEC for more complete information about Fifth Third Bancorp and these offerings. You may obtain these documents for free

by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, Fifth Third Bancorp, the underwriter or any dealer

participating in the offerings will arrange to send you the relevant prospectus and prospectus supplements if you request it by

contacting Goldman, Sachs & Co. Attention: Prospectus Department, 100 Burma Road, Jersey City, NJ 07305, or by calling

toll-free

(866)

471-2526

facsimile

(212)

902-9316;

Credit

Suisse

Securities

(USA)

LLC,

Prospectus

Department,

One

Madison Avenue, New York, NY 10010, 1-800-221-1037; or Merrill Lynch & Co., Attention: Prospectus Department, 4 World

Financial Center, New York, NY 10080, 212-449-1000.

Description of the capital offering

$1.0 billion (+ 15% greenshoe)

Size of Offering

Maturity

Non-Cumulative Dividend

Conversion Right

Conversion Premium

Put / Call Features

Forced Conversion

Perpetual

[TBD]% per annum; payable

quarterly

Convertible into common at any

time at the option of the holder

[TBD]%

None

After 5 years, Issuer may force

conversion if stock price exceeds

130% of conversion price

Convertible Preferred Stock

Dividend Stopper

No dividends on junior stock if

convert dividend not paid

Security

Capital actions

•

Management developed a capital plan designed to help ensure strong regulatory

capital and tangible equity levels, positioning the bank to absorb losses and

provisions significantly in excess of current levels and environmental conditions

through 2009

Revising Tier 1 capital target range to 8-9%

–

Total capital target raised

–

Tangible equity/tangible assets

•

Strengthening Fifth Third’s capital position through the following capital actions:

–

Capital issuance

–

Subject to market conditions, plan to issue $1 billion

of Tier 1 capital in the form of convertible preferred securities -

achieves

new Tier 1 target immediately

–

Dividend reduction

Reducing quarterly common dividend by $166

million, from $0.44 to $0.15

–

Asset sales/dispositions –

Near-term sale of non-core businesses to

supplement common equity capital, if successfully completed, by

additional $1 billion or more

Capital actions assume further deterioration of credit and economic environment

and are intended to maintain a Tier 1 ratio within target range through credit cycle

without further issuance

Pro forma capital ratio comparison

6-7%

11.5-12.5%

8-9%

Target

N/A

10%

Regulatory well

capitalized

minimums

6.3%

6.22%

TE/TA

12.2%

11.34%

Total Capital

7.72%

1Q-

2008

8.5%

2Q-2008 Pro

forma*

Tier 1

Capital Ratio

* Pro forma for $1B preferred capital issuance and a quarterly dividend reduction to $0.15 per share.

Agenda

Overview of Fifth Third

Second quarter review

—

Credit costs overshadow continuing strong performance

Credit update

—

Trends remain negative, driven primarily by residential and

commercial real estate

—

Increased charge-off expectations; credit forecast review

Summary

Appendix

Naples

Fifth Third overview

As of 3/31/2008

As of 6/16/2008

Nilson, March 2008

$111

billion

assets

#14

billion

market

cap

#15

1,315 banking centers

Over 2,250 ATMs

18 affiliates in 12 states

World’s

largest

merchant

acquirer

Cincinnati

Florence

Louisville

Lexington

Nashville

Atlanta

Augusta

Orlando

Tampa

Naples

Raleigh

Charlotte

Huntington

Pittsburgh

Cleveland

Columbus

Toledo

Detroit

Grand Rapids

Traverse

City

Chicago

Evansville

Jacksonville

Indianapolis

St. Louis

Diversified franchise

38%

12%

31%

10%

2007 Revenue -

$6.0 billion*

Branch

Banking

$2.2B

FTPS

$736M

Investment

Advisors

$562M

Commercial

Banking

$1.9B

Consumer Lending

$601M

Branch Banking (36% of earnings)

Retail & Business banking

2.8 million households

Over 1,200 banking centers, over 2,200 ATMs

Commercial Banking (41%)

Corporate & Middle Market Lending, Treasury Services,

International Trade Finance, Commercial leasing and

syndicated finance

Processing Solutions (9%)

Over 155,000 merchant locations

Processes transactions for over 2,600 Financial

Institutions

leading

issuer

MasterCard

Branded

debit

cards¹

Consumer Lending (8%)

9,300 dealer indirect auto lending network

$35 billion mortgage servicing portfolio

Federal and private student education loans

Investment Advisors (6%)

800 Registered Representatives

338 Private Bank Relationship Managers

Over 81,000 Private Bank Relationships

*Represents tax-equivalent revenue. Excludes eliminations/other revenue.

Data: 2007 10-K; all as of 12/31/2007

Source

Media

2007

edition

Fifth Third differentiators

Integrated affiliate delivery model

Strong sales culture

Operational efficiency

Streamlined decision making

Integrated payments platform (FTPS)

Acquisition integration

Customer satisfaction

2.75%

3.00%

3.25%

3.50%

3.75%

1Q07

2Q07

3Q07

4Q07

1Q08

$500

$550

$600

$650

$700

$750

$800

$850

Net interest income

Net interest margin

Increasing net interest income

Net interest margin and net interest income expected to continue

to trend higher

in 2Q08 –

NII expected up more than 10% year-over-year and NIM 3.40+

Fee income growth and diversification

$100

$200

$300

$400

$500

$600

$700

$800

$900

1Q07

2Q07

3Q07

4Q07

1Q08

Payment

processing

Deposit

service

charges

Investment

advisory

Corporate

banking

Mortgage

Secs/other

Reported noninterest income growth 42%. Excludes $152 million BOLI charge and $273 million Visa IPO gain in 1Q08; excludes $177 million BOLI charge in 4Q07.

YOY

growth

+15%

+17%

-3%

+30%

+144%

+10%

2Q08 non-interest income expected to grow more than 10% from a year ago

Strong operating performance offset by current

high credit costs

-$600

-$400

-$200

$200

$400

$600

$800

1Q07

2Q07

3Q07

4Q07

1Q08

Net charge-

offs

Reported pre-tax pre-provision earnings growth 64%. Excludes $152 BOLI charge, $273 Visa IPO gain, $152 million reversal of Visa litigation expenses and $16 million

in merger-related and severance charges in 1Q08; excludes $177 million BOLI charge, $94 million in Visa litigation expense, and $8 million

in merger-related expenses

in 4Q07; excludes $78 million in Visa litigation expense in 3Q07.

Additional

provision

Strong operating results and reserve build continue in 2Q08;

pre-tax pre-provision earnings expected >10%

2Q08 operating trends/outlook

Operating trends remain strong and generally exceed expectations

NII growth of more than 10% compared with 2Q07

Average loans expected to grow 10%+ vs. 2Q07

—

Average core deposit growth of approximately 3% vs. 2Q07, transaction deposits +5%

—

2Q08 NIM estimated to exceed 3.40%, similar to 1Q08

Noninterest income growth of more than 10% compared with 2Q07

—

Excluding Visa gain and securities gains, growth of 3% sequentially*

Noninterest expense growth of more than 10% compared with 2Q07, core expense growth

approximately 4%**

Full year 2008 outlook

—

Operating trends currently expected to remain strong

—

Potential charge related to lease litigation; believe a maximum exposure of $250 million***

First Charter acquisition closed 6/6/08: had modest effect on growth rates, margins

Note:

all

growth

rates,

ratios,

dollar

expectations

are

approximations

and

estimates

based

current

forecast;

subject

change;

please

refer

risk

factors

page

*Reported noninterest income expected to decline approximately 15% due to effect $273mm Visa gain and $29mm in securities gains in 1Q08

**Excludes the following: First Charter merger-related charges, 2 percent; effect of acquisition of First Charter; 1 percent; effect of acquisition of

R-G Crown, 1 percent; effect of adoption of FAS 159 for mortgage originations, 2 percent; and the effect of growth in provision expense for

unfunded commitments, 3 percent.

***If June 30, 2008 measurement date

Credit trends/outlook

2Q08 annualized charge-off ratio of approximately 1.60-1.65%; total provision expense of

approximately $700-725 million ($350-375 million in excess of charge-offs)

—

Estimated allowance to loan ratio of 1.8% at 2Q08

—

NPAs up 40-45% compared with 1Q08 to approximately $2.3 billion or 2.6%

Full year 2008 outlook

—

Full year charge-off ratio expected to be approximately 160-165 bps

—

NPAs expected to continue to grow, although at lower growth rate

than experienced in

recent quarters

—

Provision expense expected to continue to exceed charge-offs; allowance to loan ratio

currently expected to build to over 2% by year-end, subject to the results of our reserve

modeling and actual results and trends.

Note:

all

growth

rates,

ratios,

dollar

expectations

are

approximations

and

estimates

based

current

forecast;

subject

change;

please

refer

risk

factors

page

Provision levels:

Well ahead of stressed losses

$462

$276

$628

$544

$340-

$350

$1,300-

$1,400

$700-

$725

$1,000

$2,000

$3,000

2007

1Q08

2Q08

FY08

Net charge-offs

Provision

1.17%

1.49%

1.8%

>2%

0.00%

0.50%

1.00%

1.50%

2.00%

2.50%

2007

1Q08

2Q08

FY08

Allowance for Loan and Lease Losses

FY09

•

Charge-offs

expected to be

above 2008 levels

•Continue

provision build

FY09

•Expect allowance

for loan losses

>2%

2H08 provision

dependent on credit

results and

allowance model

2% allowance

15.2%

14.1%

13.4%

12.8%

12.6%

12.2%

12.1%

12.0%

11.9%

11.8%

11.1%

11.0%

10.7%

10.9%

11.4%

12.3%

12.1%

10.3%

NCC

BBT

KEY

USB

FITB -

PF ¹

HBAN

MTB

ZION

PNC

CMA

STI

Capital position

Tangible Equity /

Tangible Assets

Tier 1

Total Capital Ratio

Source: SNL and company filings. Reported capital ratios adjusted for recent acquisitions and capital issuances based on public filings. KEY adjusted for announced $1.2bn after-tax loss

associated with leveraged lease obligations and subsequent $1.65bn capital raise. PNC pro forma for $560mm acquisition of Sterling Financial completed in Apr-2008.

FITB forecast; pro forma for $1.0bn capital issuance. No disposition of businesses included.

1Q 08 - Standalone

1Q 08 - Pro Forma for Recent Capital Issuances

5.5%

7.7%

7.6%

11.4%

11.1%

Peers 1Q08

FITB 2Q08¹

9.7%

7.7%

7.6%

7.3%

6.5%

6.3%

6.2%

5.7%

5.5%

5.4%

5.3%

4.9%

4.6%

5.0%

4.3%

4.7%

5.9%

6.5%

6.9%

NCC

CMA

KEY

STI

FITB

PF ¹

ZION

HBAN

BBT

USB

MTB

PNC

6.7%

7.6%

8.3%

7.4%

8.6%

11.4%

9.0%

8.8%

8.7%

8.6%

8.5%

8.0%

7.6%

7.4%

7.2%

7.3%

7.2%

NCC

BBT

HBAN

KEY

USB

FITB

PF ¹

PNC

ZION

MTB

CMA

STI

Credit Deterioration

Economic environment continues to be challenged; significant stress on real

estate and real estate related portfolios, with Florida and Michigan particularly

hard hit

Recently

conducted

intensive

review

loan

portfolio

develop

credit

forecast for 2H 2008 and 2009

—

Top-down and bottoms-up analysis with particular focus on RE / RE-

related portfolios

—

Development

stress

scenarios

forecast

potential

losses

and

test

adequacy of capital actions

—

Homebuilder / developer

—

Commercial mortgage

—

Home equity

—

Commercial construction

Diversified loan portfolio

$48 billion commercial loan portfolio

91% secured

$1.0 million average outstanding

$1.9 million average exposure

1Q08 NCOs: 121 bps

$33 billion consumer loan portfolio

95% secured

66% secured by real estate, 26% by auto

Real estate portfolio

77% weighted average CLTV

Weighted average origination FICO 735

58% first lien secured

No subprime originations

1Q08 NCOs: 158 bps

Comercial lease

Home Equity

15%

Auto

10%

Credit Card

Residential

mortgage

12%

C&I

33%

Commercial

Mortgage

15%

Commercial

construction

Other Consumer

Distributed by type

Geography Distribution

Other

15%

Florida

10%

National

18%

Ohio

27%

Michigan

19%

Illinois

11%

All as of 3/31/2008

Credit by portfolio

C&I

13%

Home equity

15%

Auto

13%

Other

consumer

Residential

mortgage

12%

Commercial

mortgage

12%

Commercial

construction

26%

Card

36%

Other

13%

16%

20%

Net charge-offs by loan type

Net charge-offs by geography

($ in millions)

C&I

Commercial

mortgage

Commercial

construction

Commercial

lease

Total

commercial

Residential

mortgage

Home

equity

Auto

Credit

card

Other

consumer

Total

consumer

Total loan &

lease

Loan balances

$26,590

$12,155

$5,592

$3,727

$48,065

$9,873

$11,803

$8,394

$1,686

$1,066

$32,821

$80,886

% of total

33%

15%

59%

12%

15%

10%

41%

100%

Non-performing assets

$305

$325

$418

$11

$1,058

$333

$162

$26

$13

$534

$1,592

NPA ratio

1.15%

2.67%

7.47%

0.29%

2.20%

3.33%

1.37%

0.30%

0.76%

0.09%

1.62%

1.96%

Net charge-offs

$36

$33

$72

$141

$34

$41

$35

$20

$135

$275

Net charge-off ratio

0.57%

1.10%

5.20%

0.00%

1.21%

1.33%

1.39%

1.52%

4.78%

1.78%

1.58%

1.37%

All as of 3/31/2008

Commercial construction

23%

21%

Other

31%

Services

Other

Health care

Finance

Retail trade

Manufacturing

Construction

40%

Individuals

Real Estate

44%

Loans by geography*

Credit trends

Loans by industry*

Comments

($ in millions)

1Q07

2Q07

3Q07

4Q07

1Q08

Balance

$5,688

$5,469

$5,463

$5,561

$5,592

90+ days delinquent

$20

$33

$54

$67

$49

90+ days ratio

0.35%

0.60%

0.99%

1.21%

0.87%

NPAs

$59

$66

$106

$257

$418

as % of loans

1.03%

1.21%

1.94%

4.61%

7.47%

Net charge-offs

$12

$72

as % of loans

0.37%

0.48%

0.35%

0.83%

5.20%

Commercial construction

*As of 3/31/2008

•

Declining valuations in residential and land

developments

•

Higher concentrations in now stressed markets (Florida

and Michigan)

•

Continued stress expected through 2008

Homebuilder/developer

Credit trends

Loans by property type*

Comments

Other MW

27%

24%

Other SE

NE OH

FLA

34%

Resi

23%

Other

18%

Land

59%

*Current definition not in use prior to 3Q07

($ in millions)

3Q07

4Q07

1Q08

Balance

$2,594

$2,868

$2,705

90+ days delinquent

$50

$57

$60

90+ days ratio

1.94%

1.99%

2.21%

NPAs

$78

$176

$309

as % of loans

3.01%

6.14%

11.42%

Net charge-offs

$43

as % of loans

0.54%

1.11%

6.32%

Homebuilders/developers*

*As of 3/31/2008

•

Making no new loans to builder/developer sector

•

Residential & land valuations under continued stress

•

Balance < 6% of Commercial Loans; <3% of total

gross loans

•

Balance by product approx. 52% Construction, 38%

Mortgage, 10%

C&I

10%

Mortgage

38%

Construction

52%

Portfolio split*

Loans by geography*

Residential mortgage

liens:

100%

;

weighted

average

LTV:

77%

Weighted average origination FICO: 724

Origination

FICO

distribution:

<659

13%;

660-689

11%;

690-719

17%;

720-749

18%;

750+

40%

(note:

loans

<659

includes

CRA

loans

and

FHA/VA

loans)

Origination

LTV

distribution:

<70

26%;

70.1-80

42%;

80.1-90

12%;

>90.1

20%

Vintage

distribution:

2008

3%;

2007

19%;

2006

18%;

2005

30%;

2004

15%;

prior

2004

15%

through

broker:

11%;

performance

similar

direct

25%

34%

16%

Other

Loans by geography*

Credit trends

Portfolio details*

Comments

($ in millions)

1Q07

2Q07

3Q07

4Q07

1Q08

Balance

$8,484

$8,477

$9,057

$10,540

$9,873

90+ days delinquent

$78

$98

$116

$186

$192

90+ days ratio

0.91%

1.14%

1.27%

1.75%

1.92%

NPAs

$103

$112

$150

$216

$333

as % of loans

1.21%

1.30%

1.64%

2.03%

3.33%

Net charge-offs

$18

$34

as % of loans

0.32%

0.43%

0.41%

0.72%

1.33%

Consumer mortgage

*As of 3/31/2008

46% of total portfolio accounts for approximately

87% of total loss

34% FL concentration driving 65% total loss

FL lots ($447mm) running at 13% annualized loss

rate

Mortgage company originations targeting 95%

salability

liens:

23%;

liens:

77%

(17%

liens

behind

FITB

Weighted

average

origination

FICO:

742

Origination

FICO

distribution:

<659

5%;

660-689

10%;

690-719

16%;

720-749

20%;

750+

50%

Weighted

average

CLTV:

78%

(1st

liens

64%;

liens

82%)Origination

CLTV

distribution:

<70

28%;

70.1-80

21%;

80.1-90

21%;

90.1-100

29%;

>100

Vintage

distribution:

2008

2%;

2007

16%;

2006

20%;

2005

18%;

2004

13%;

prior

2004

32%

through

broker

channels:

22%

FICO:

734

brokered,

745

direct;

CLTV:

89%

brokered;

74%

direct

Home equity

Portfolio details*

Comments

*As of 3/31/2008

25%

11%

20%

10%

Other

24%

36%

10%

23%

11%

Other

Brokered loans by geography*

Direct loans by geography*

Credit trends

($ in millions)

1Q07

2Q07

3Q07

4Q07

1Q08

Balance

$2,903

$2,810

$2,746

$2,713

$2,651

90+ days delinquent

$21

$24

$30

$34

$33

90+ days ratio

0.73%

0.86%

1.08%

1.25%

1.26%

Net charge-offs

$14

$17

$23

as % of loans

1.11%

1.19%

1.94%

2.52%

3.29%

Home equity - brokered

($ in millions)

1Q07

2Q07

3Q07

4Q07

1Q08

Balance

$9,023

$8,970

$8,991

$9,161

$9,152

90+ days delinquent

$37

$34

$38

$43

90+ days ratio

0.41%

0.38%

0.41%

0.47%

Net charge-offs

$11

$14

$15

$18

as % of loans

0.35%

0.48%

0.59%

0.66%

0.78%

Home equity - direct

Approximately

22%

portfolio

concentration

broker

product

driving

approximately

52%

total

loss

Portfolio

experiencing

increased

loss

severity

(losses

liens

approximately

100%)

Aggressive

home

equity

line

management

strategies

place

Credit containment actions

Eliminated all brokered home equity production in 2007

Suspended all new developer and non-owner occupied commercial property

lending

New concentration limits for Commercial portfolio

Implemented Watch and Criticized Asset Reduction initiative

Significantly tightened underwriting limits and exception authorities

Implemented aggressive home equity line management program

Expanded consumer credit outreach program

Major expansion of commercial and consumer workout teams

Aggressive write-downs in stressed geographies

Significant addition to reserve levels

Direct executive management oversight of every major credit decision

Fifth Third has moved aggressively to stay ahead of emerging credit issues

Financials as of 3/31/2008

Conservative balance sheet

Diversified earning asset mix

Strong core deposit funding

76%

Loans

11%

Cash and due

from banks

Securities

Other assets

11%

58%

Core Deposits

Other Deposits

Equity

Fed Funds and

Other short-term

borrowings

Other

liabilities

Long-term

debt

12%

Low reliance on short-term and wholesale funding

Fifth Third corporate debt ratings

Date of most recent change in rating or outlook

Sub

Senior

A+

AA-

Aa2

Fifth Third Bank (MI)

AA (low)

A+

Aa3

Stable

6/18/08

A+

Fitch

AA-

Aa2

Senior

Fifth Third Bank (OH)

AA (low)

A+

Aa3

Sub

3/18/08

6/18/08

Rating

Date

Current

Outlook

Fifth Third Bancorp

Negative

Review for possible

downgrade

A (high)

Sub

AA (low)

DBRS

A+

S&P

Aa3

Moody’s

Senior

Summary and priorities

While credit conditions continue to deteriorate, Fifth Third is taking aggressive

steps to ensure it is well positioned to weather a challenging environment

—

Delivery of strong operating results remains a hallmark of Fifth

Third despite sluggish

economy

—

Active credit monitoring and management is top priority of the organization

Management’s credit loss projections reflect an expectation of a continuing

deterioration in the credit environment and incorporate significant stress

—

Expected credit losses in 2008 and potential 2009 scenarios assume significant stress

relative to 1H08 levels

—

Provisions significantly exceed net charge-offs, building allowance to absorb portfolio losses

Actions and plans will materially enhance the company’s capital position and

provide cushion for significant additional stress beyond current

expectations

Appendix

120

160

200

240

280

320

1Q07

2Q07

3Q07

4Q07

1Q08

C&I/Lease

Auto

Credit Card

Other

CRE

Res RE

NCOs

NPAs

200

400

600

800

1,000

1,200

1,400

1,600

1,800

1Q07

2Q07

3Q07

4Q07

1Q08

C&I/Lease

Auto

CRE

Res RE

Res

CRE

NPA and charge-off growth driven by residential and commercial real estate

Res

CRE

Real estate driving credit deterioration

120

160

200

240

280

320

1Q07

2Q07

3Q07

4Q07

1Q08

Other SE

National

Other MW

NE Ohio

Michigan

Florida

NCOs

NPAs

Stressed

markets

Stressed

markets

Michigan and Florida: most stressed markets

NPA and charge-off growth driven by Florida and Michigan

200

400

600

800

1,000

1,200

1,400

1,600

1,800

1Q07

2Q07

3Q07

4Q07

1Q08

Other SE

National

Other MW

NE Ohio

Michigan

Florida