Company: CMA
Filing Date: 2025-11-25
Form Type: DEFM14A
Source: 0001193125-25-297173
Chunk: 117

Company: COMERICA INC
Filing Date: 2025-11-25
Form: DEFM14A
Chunk 117
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 | its review with its financial advisors of the financial terms of the merger agreement and its review with its                   
 legal advisors of the other terms of the merger agreement, including the representations, covenants and termination provisions. |

The Fifth Third board of directors also considered the potential risks related to the transaction. The board of directors concluded that the anticipated benefits of combining with Comerica were likely to outweigh these risks substantially. These potential risks included:

| • |     | the diversion of management focus and resources from other strategic opportunities and operational matters while 
 working to implement the transaction and integrate Comerica’s business into Fifth Third;                         |

| • |     | the possibility of encountering difficulties in achieving expense synergies in the amounts currently estimated or 
 within the time frame currently contemplated;                                                                     |

| • |     | the costs to be incurred in connection with the mergers and the integration of Comerica’s business into                                                                                            
 Fifth Third, and the possibility that the transaction and the integration may be more difficult and expensive to complete than anticipated, including as a result of unexpected factors or events; |

| • |     | the possibility of encountering difficulties in management and oversight of Comerica’s business and                                                                                                                                                
 operations following the mergers (including as a result of identifying additional operational or compliance issues, cultural differences or challenges in managing new regulatory actions or customer remediation efforts), and the possibility of 
 increased scrutiny by, and/or additional regulatory expectations or requirements of, government and regulatory authorities, as a result of the mergers and the increased size, scope and complexity of the combined business;                      |

| • |     | the risk that Comerica’s regulatory and compliance issues, including potential complications and costs                                                                                                                                 
 relating to Comerica Bank & Trust’s publicly disclosed risk governance framework and internal controls issue, such as consent order remediation or resolution of legal claims, are more difficult or more expensive to resolve than is 
 currently known;                                                                                                                                                                                                                       |

| • |     | certain anticipated merger-related costs that Fifth Third expects to incur, including a number of non-recurring costs in connection with the mergers even if the mergers are not ultimately consummated, including a potential $500,000,000 termination fee if the merger agreement is terminated under certain 
 circumstances;                                                                                                                                                                                                                                                                                                  |

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| • |     | the regulatory and other approvals required in connection with the mergers and the bank mergers and the risk that  
 such regulatory approvals will not be received in a timely manner or at all or may impose unacceptable conditions;