Company: CMA
Filing Date: 2025-11-25
Form Type: DEFM14A
Source: 0001193125-25-297173
Chunk: 389

Company: COMERICA INC
Filing Date: 2025-11-25
Form: DEFM14A
Chunk 389
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 the avoidance of doubt, any agency or instrumentality of the United States, including the Federal Reserve and other federal bank regulatory agencies) or any political subdivision of or in the
United States that is enacted or becomes effective after the initial issuance of any share of Series M Preferred Stock;

(ii) any proposed
change in those laws or regulations that is announced after the initial issuance of any share of Series M Preferred Stock; or

(iii) any
official administrative decision or judicial decision or administrative action or other official pronouncement interpreting or applying those laws or regulations that is announced after the initial issuance of any share of Series M Preferred Stock,

there is more than an insubstantial risk that the Corporation will not be entitled to treat the full Liquidation Preference of the shares of Series M
Preferred Stock then outstanding as “additional Tier 1 Capital” (or its equivalent) for purposes of the capital adequacy guidelines or regulations of the Federal Reserve (or any successor bank regulatory authority that may become the
Corporation’s applicable federal banking agency), as then in effect and applicable, for as long as any share of Series M Preferred Stock is outstanding.

“Reset Date” means October 1, 2030 and each date falling on the fifth anniversary of the preceding Reset Date, which
in each case, will not be adjusted for Business Days.

“Reset Determination Date” means, in respect of any Reset
Period, the day falling three Business Days prior to the beginning of such Reset Period, subject to any adjustments made by the Calculation Agent as provided for herein.

“Reset Period” means the period from, and including, October 1, 2030 to, but excluding, the next following Reset Date
and thereafter each period from, and including, each Reset Date to, but excluding, the next following Reset Date.

“Series M Senior Stock” means any other class or series of stock of the Corporation ranking senior to the Series M Preferred Stock with respect to payment of dividends or the distribution of assets upon liquidation, dissolution or winding up of the
Corporation.

“Series M Preferred Stock” shall have the meaning set forth in Section 1.

“Voting Parity Securities” shall have the meaning set forth in Section 5(b).

D-3

Section 3. .

(a) Holders of Series M Preferred Stock will be entitled to receive, when, as, and if declared by the Board of Directors or a duly authorized
committee of the Board of Directors (an “Authorized Committee”), out of assets legally