Company: CMA
Filing Date: 2025-11-25
Form Type: DEFM14A
Source: 0001193125-25-297173
Chunk: 74

Company: COMERICA INC
Filing Date: 2025-11-25
Form: DEFM14A
Chunk 74
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 realize the expected operating
efficiencies, cost savings, revenue synergies and other benefits currently anticipated from the first merger.

50

In addition, following the first merger, Fifth Third will be subject to increased scrutiny by, and
additional regulatory requirements of, bank regulatory authorities as a result of the transaction and the size, scope and complexity of its business operations, which may have an adverse effect on the business, operations or stock price of Fifth
Third.

The fairness opinions delivered by Goldman Sachs and J.P. Morgan, respectively, to Fifth Third’s and Comerica’s respective boards of directors prior to the entry into the merger agreement will not reflect changes in circumstances that may have occurred since the dates of the opinions.

The respective boards of directors of Fifth Third and Comerica have not obtained updated fairness opinions either as of the date of this joint proxy
statement/prospectus or as of any other date subsequent to the dates of such opinions from Goldman Sachs, which is Fifth Third’s financial advisor, or from J.P. Morgan, which is Comerica’s financial advisor. Changes in the operations and
prospects of Fifth Third or Comerica, general market and economic conditions and other factors which may be beyond the control of Fifth Third and Comerica, may have altered the value of Fifth Third or Comerica or the prices of shares of Fifth Third
stock and shares of Comerica stock as of the date of this joint proxy statement/prospectus, or may alter such values and prices by the time the first merger is completed. The opinions do not speak as of any date other than the dates of those
opinions.

Combining Fifth Third and Comerica may be more difficult, costly or time consuming than expected and Fifth Third and Comerica may fail to realize the anticipated benefits of the first merger.

The success of the transaction will depend, in part, on the ability to realize the
anticipated cost savings from combining the businesses of Fifth Third and Comerica. To realize the anticipated benefits and cost savings from the first merger, Fifth Third and Comerica must integrate and combine their businesses in a manner that
permits those cost savings to be realized, without adversely affecting current revenues and future growth. If Fifth Third and Comerica are not able to successfully achieve these objectives, the anticipated benefits of the first merger may not be
realized fully or at all or may take longer to realize than expected. For more information, see “Unaudited Pro Forma Condensed Combined Financial Information”