Company: CMA
Filing Date: 2025-11-25
Form Type: DEFM14A
Source: 0001193125-25-297173
Chunk: 172

Company: COMERICA INC
Filing Date: 2025-11-25
Form: DEFM14A
Chunk 172
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 a material adverse effect on
Comerica and its subsidiaries, taken as a whole.

The approval of an application means only that the regulatory criteria for approval have been satisfied
or waived. It does not mean that the approving authority has determined that the consideration to be received by holders of Comerica common stock in the first merger is fair. Regulatory approval does not constitute an endorsement or recommendation
of the first merger.

There can be no assurance that all of the regulatory approvals required in connection with the merger agreement and first merger
will be obtained and, if obtained, there can be no assurances regarding the timing of the approvals, the terms of the approvals or the absence of litigation challenging such approvals. In addition, there can be no assurance that such approvals will
not impose conditions or restrictions that, individually or in the aggregate, would or could reasonably be expected to have a material adverse effect on Comerica and its subsidiaries, taken as a whole, in which case Fifth Third is not obligated to
close the first merger. There can likewise be no assurances that U.S. federal or state regulatory authorities will not attempt to challenge the first merger or, if such a challenge is made, what the result of such challenge will be.

Federal Reserve Board and the OCC

The mergers are
subject to the approval of the Federal Reserve under Section 3 of the BHC Act. The bank mergers are subject to the approval of the OCC under the National Bank Act, the Bank Merger Act, and the Riegle-Neal Interstate Banking and Branching
Efficiency Act of 1994 (12 U.S.C. § 1831u) (the “Riegle-Neal Act”). The Federal Reserve and the OCC take into consideration a number of factors when acting on applications under the BHC Act and the Bank Merger Act and National Bank
Act, respectively. These factors include the effect of the mergers on competitiveness in affected banking markets, the financial and managerial resources (including consideration of the capital adequacy, liquidity and earnings performance, as well
as the competence, experience and integrity of the directors and officers, and the records of compliance with applicable laws and regulations) and future prospects of the combined company. The Federal Reserve and the OCC also consider the
effectiveness of the applicant in combatting money laundering, the convenience and needs of the communities to be served, and the extent to which the proposal would result in greater or more concentrated risks to the stability of the U.S. banking or
financial system. The parties