Company: CMA
Filing Date: 2025-11-25
Form Type: DEFM14A
Source: 0001193125-25-297173
Chunk: 63

Company: COMERICA INC
Filing Date: 2025-11-25
Form: DEFM14A
Chunk 63
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 only and is not necessarily indicative of the financial position or results of operations that would have been achieved had the merger been completed on the dates indicated, nor is it indicative of future results or financial position of Fifth Third following the merger.

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| 2. | Preliminary Purchase Price Allocation |

The following table summarizes the determination of the preliminary estimated purchase consideration as well as a sensitivity analysis assuming a 10% decrease and 10% increase in the price per share of Fifth Third common stock from the October 24, 2025 baseline.

|                                                   |     |   |             |     | Sensitivity Analysis |             |     |      |             |
|                                                   |     |   |             |     | (10)%                |             |     | +10% |             |
| Comerica shares outstanding at October 3, 2025(a) |     |   | 128,054,461 |     |                      | 128,054,461 |     |      | 128,054,461 |
| Exchange ratio(b)                                 |     |   |      1.8663 |     |                      |      1.8663 |     |      |      1.8663 |
| Fifth Third shares to be issued in merger         |     |   | 238,988,041 |     |                      | 238,988,041 |     |      | 238,988,041 |
| FITB stock price as of October 24, 2025           |     | $ |       42.63 |     |                      |       38.37 |     |      |       46.89 |
| Common stock consideration ($ in millions)        |     | $ |      10,188 |     |                      |       9,170 |     |      |      11,206 |
| Preferred stock issued                            |     |   |         392 |     |                      |         392 |     |      |         392 |
| Common and preferred stock consideration          |     | $ |      10,580 |     |                      |       9,562 |     |      |      11,598 |

| (a) | Comerica shares outstanding includes the conversion of certain vested equity awards held by Comerica 
 employees into Fifth Third equity awards.                                                            |

| (b) | Exchange ratio pursuant to the terms of the merger agreement. |

The following table summarizes the allocation of the preliminary estimated purchase consideration to the fair value