Company: CMA
Filing Date: 2025-11-25
Form Type: DEFM14A
Source: 0001193125-25-297173
Chunk: 119

Company: COMERICA INC
Filing Date: 2025-11-25
Form: DEFM14A
Chunk 119
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 Third stock issuance provided for in the merger agreement for the approval of Fifth Third’s voting shareholders, and recommended that Fifth Third’s voting shareholders approve the Fifth Third stock issuance. In considering the recommendation of the Fifth Third board of directors, you should be aware that certain directors and executive officers of Fifth Third may have interests in the mergers that are different from, or in addition to, interests of shareholders of Fifth Third generally and may create potential conflicts of interest. The Fifth Third board of directors was aware of these interests and considered them when evaluating and negotiating the merger agreement, the merger and the other transactions contemplated by the merger agreement, and in recommending to Fifth Third’s shareholders that they vote in favor of the Fifth Third Stock Issuance proposal. See “ The Mergers — Interests of Certain Fifth Third Directors and Executive Officers in the First Merger” beginning on page 107. It should be noted that this explanation of the reasoning of the Fifth Third board of directors and all other information presented in this section is forward-looking in nature and, therefore, should be read in light of the factors discussed in the section entitled “ Cautionary Statement Regarding Forward-Looking Statements” on page 48. 82

For the reasons set forth above, the Fifth Third board of directors unanimously recommends that Fifth Third voting shareholders vote “FOR” the Fifth Third stock issuance proposal and “FOR” the Fifth Third adjournment proposal. Comerica’s Reasons for the Mergers; Recommendation of Comerica’s Board of Directors In reaching its decision to approve the merger agreement and the transactions contemplated thereby (including the mergers) and to recommend that the holders of Comerica common stock adopt the merger agreement, the Comerica board of directors evaluated the merger agreement and the transactions contemplated thereby (including the mergers) in consultation with Comerica’s management, as well as Comerica’s financial and legal advisors, and considered a number of factors, including the following (which are presented below in no particular order and are not exhaustive):

| • |     | each of Comerica’s, Fifth Third’s and the combined enterprise’s business, operations, financial                                                                                                                                                          
 condition, asset quality, earnings, regulatory compliance and prospects. In reviewing these factors, the Comerica board of directors considered its assessment that Comerica’s business, operations, risk profile, product offerings, geographic         
 footprint, customer base and culture complement those of Fifth Third, and that the mergers and the other transactions contemplated by the merger agreement would result in a surviving