Company: CMA
Filing Date: 2025-11-25
Form Type: DEFM14A
Source: 0001193125-25-297173
Chunk: 139

Company: COMERICA INC
Filing Date: 2025-11-25
Form: DEFM14A
Chunk 139
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 to (i) the holders of any other class of securities, including Comerica preferred stock, or (ii) any other creditors or other constituencies of Comerica or as to the underlying decision by Comerica to engage in the proposed mergers. The issuance of J.P. Morgan’s opinion was approved by a fairness opinion committee of J.P. Morgan. The summary of the opinion of J.P. Morgan set forth in this joint proxy statement/prospectus is qualified in its entirety by reference to the full text of such opinion. The opinion does not constitute a recommendation to any stockholder of Comerica as to how such stockholder should vote with respect to the proposed mergers or any other matter. In arriving at its opinion, J.P. Morgan, among other things:

| • |     | reviewed certain publicly available business and financial information concerning Fifth Third and Comerica and 
 the industries in which they operate;                                                                          |

| • |     | compared the financial and operating performance of Fifth Third and Comerica with publicly available information                                                                                                                               
 concerning certain other companies J.P. Morgan deemed relevant and reviewed the current and historical market prices of the Comerica common stock and Fifth Third common stock and certain publicly traded securities of such other companies; |

| • |     | reviewed certain internal financial analyses and forecasts prepared by the managements of Fifth Third and                                                                                                                                   
 Comerica relating to their respective businesses, as well as the estimated amount and timing of the cost savings and related expenses and synergies expected to result from the proposed mergers (the “synergies”), as discussed more fully 
 in the sections entitled “Fifth Third Prospective Financial Information Used by J.P. Morgan” and “Comerica Prospective Financial Information Used by J.P. Morgan” beginning on pages 105 and 106,                                           
 respectively, of this joint proxy statement/prospectus; and                                                                                                                                                                                 |

| • |     | performed such other financial studies and analyses and considered such other information as J.P. Morgan deemed 
 appropriate for the purposes of its opinion.                                                                    |

In addition, J.P. Morgan held discussions with certain members of the managements of Fifth Third and Comerica with respect to certain aspects of the proposed mergers, and the past and current business operations of Fifth Third and Comerica, the financial condition and future prospects and operations of Fifth Third and Comerica, the effects of the proposed mergers on the financial condition and future prospects of Fifth Third and Comerica, and certain