Company: CMA
Filing Date: 2025-11-25
Form Type: DEFM14A
Source: 0001193125-25-297173
Chunk: 122

Company: COMERICA INC
Filing Date: 2025-11-25
Form: DEFM14A
Chunk 122
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’s                                                                                                                                                    
 financial and legal advisors, of Comerica’s stand-alone plan and other strategic alternatives available to Comerica for enhancing value over the long term and the potential risks, rewards and uncertainties associated with Comerica’s               
 stand-alone plan and such other alternatives, and the belief of the Comerica board of directors that the proposed mergers offered greater benefits, with reduced risks, as compared to the value that could reasonably be expected to be obtained from 
 Comerica’s stand-alone plan and other alternatives available to Comerica;                                                                                                                                                                              |

| • |     | Comerica’s due diligence examination of the operations, financial condition and prospects of Fifth Third; |

| • |     | the fact that the combined enterprise would continue Comerica’s long-standing support of Michigan and Texas         
 communities following completion of the mergers and expand its commitment to communities in California and Arizona; |

| • |     | the regulatory and other approvals required in connection with the mergers and the bank mergers and the   
 expectation that such approvals would be received in a timely manner and without unacceptable conditions; |

| • |     | the Comerica board of directors’ review with Comerica’s outside legal advisor, Wachtell Lipton, of                                                                            
 the terms of the merger agreement, including the representations and warranties, covenants, deal protection and termination provisions, tax treatment and closing conditions; |

| • |     | the caliber of Fifth Third’s executive management team and board of directors; and |

| • |     | Fifth Third’s history and track record of realizing projected financial goals and benefits of acquisitions                                                          
 and the perceived strength of Fifth Third’s management and infrastructure to successfully complete the integration process following the completion of the mergers. |

The Comerica board of directors also considered potential risks related to the mergers but concluded that the anticipated benefits of the mergers were likely to substantially outweigh these risks. These potential risks include the following (which are presented below in no particular order and are not exhaustive):

| • |     | the regulatory and other approvals required in connection with the mergers and the bank mergers and the risk that 
 such regulatory approvals may not be received in a timely manner or at all or may impose unacceptable conditions; |

| • |     | the possibility of encountering difficulties in achieving anticipated revenue synergies and cost savings in the 
 amounts estimated or in the time frame contemplated;                                                            |

| • |     | the possibility of encountering difficulties in successfully maintaining existing customer and employee 
 relationships;