Kevin T. Kabat President and Chief Executive Officer Last year marked an important turning point for  Fifth Third, as many of the actions we’ve taken over  the past several years had a direct and positive  impact on our results. Fifth Third took aggressive  action early in the credit cycle and I’m pleased with  the progress we’ve shown through improved credit  trends, continued strong operating metrics and our  strong capital position. We returned to profitability  in early 2010 and have continued to generate  increasing levels of earnings through the remainder  of the year – over $750 million in net income for the  full year. Our return on assets was 0.7 percent in 2010  and 1.2 percent in the most recent quarter, which  demonstrates our progress to normalized levels. In February 2011, we fully repaid the U.S. Department  of Treasury’s $3.4 billion investment in preferred  stock under its Troubled Asset Relief Program (TARP)  Capital Purchase Program. Since December 2008,  we’ve paid more than $350 million of dividends to  the American taxpayers, who will also benefit from  the disposition of the warrants issued in conjunction  with that investment. We are pleased to close this  chapter in our history and move forward into a  period that we believe will be marked by continued  improvement in results, enhanced shareholder value  and prudent management of our capital. Getting to where we are today didn’t happen by  chance. We began taking aggressive actions to  position the Company for the coming storm back in  2007, and we have seen and will continue to see the  benefit of those actions. Our story is about more  than aggressively attacking credit issues - it’s about  improving the levels of customer satisfaction and  employee engagement, continuing to invest in our  already strong earnings capacity and deepening  customer relationships through new products and  services. These are part of a strategic plan that,  along with relentless focus on execution, allows us  to chart our future course with confidence.  Our strategic agenda as we move forward is  focused on opportunities in markets where  we are underpenetrated and on continuous  improvement of the customer experience, both of  which aim for deeper customer relationships and  improved retention. This focus contributes to our  overall goal of positioning Fifth Third as a unique  value proposition – a bank with the capabilities,  technology and products of the largest banks in  the country and with the service and local touch  2010  ANNUAL REPORT 1 A Message to  Our Shareholders Dear Shareholders,