Company: CMA
Filing Date: 2025-11-25
Form Type: DEFM14A
Source: 0001193125-25-297173
Chunk: 121

Company: COMERICA INC
Filing Date: 2025-11-25
Form: DEFM14A
Chunk 121
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ica’s 
 10-day volume-weighted average stock price;                                                                                                                                                       |

| • |     | the understanding of the Comerica board of directors of the current and prospective environment in which Comerica                                                                       
 and Fifth Third operate, including economic conditions, the interest rate environment, the accelerating pace of technological change in the banking industry, increased operating costs |

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| resulting from regulatory and compliance mandates, the competitive environment for financial institutions generally and the challenges facing Comerica as an independent institution, and the 
 likely effect of these factors on Comerica both with and without the mergers and the advantages of increased scale in facing these challenges;                                                |

| • |     | the belief that Comerica and Fifth Third have limited geographic overlaps, which would promote continuity with                                                                                       
 team members and customers and thereby limit distractions and other costs which could otherwise interfere with the combined enterprise’s ability to realize the anticipated benefits of the mergers; |

| • |     | the belief that Fifth Third’s earnings and prospects, and the revenue synergies and cost savings                                                                                                       
 potentially available in the mergers, would result in the combined enterprise having the opportunity to have improved future earnings and prospects compared to Comerica’s earnings and prospects on a 
 stand-alone basis;                                                                                                                                                                                     |

| • |     | the belief that Comerica and Fifth Third share similar cultures, and the belief of the Comerica board of                                                   
 directors that the complementary cultures would facilitate the successful completion of the mergers and integration following consummation of the mergers; |

| • |     | the complementary nature of the products, services, customers and markets of Comerica and Fifth Third, which the     
 Comerica board of directors believed would provide the opportunity to mitigate risks and increase potential returns; |

| • |     | the current and prospective business climate in the banking industry, including the position of current and 
 likely competitors of Comerica and Fifth Third;                                                             |

| • |     | the anticipated pro forma financial impact of the mergers on the combined enterprise, including the expected 
 positive impact on certain financial metrics;                                                                |

| • |     | the expectation of cost savings and revenue synergies resulting from the mergers; |

| • |     | the belief that Fifth Third’s experience in completing acquisitions and related integration would mitigate       
 the execution risk of integrating Comerica with Fifth Third and realizing the potential benefits of the mergers; |

| • |     | the terms of the merger agreement and the fact that the