Company: CMA
Filing Date: 2025-11-25
Form Type: DEFM14A
Source: 0001193125-25-297173
Chunk: 41

Company: COMERICA INC
Filing Date: 2025-11-25
Form: DEFM14A
Chunk 41
---
, the record date and the last practicable trading day before the date of this joint proxy statement/prospectus. This table also shows the implied value of the merger consideration to be issued in exchange for each share of Comerica common stock, which was calculated by multiplying the closing price of Comerica common stock on those dates by the exchange ratio.

|                   |     | Fifth Third 
 Common      
 Stock       |       |     | Comerica 
 Common   
 Stock    |       |     | Implied Value of 
 One Share        
 of Comerica      
 Common Stock     |       |
|:------------------|:----|:------------|------:|:----|:---------|------:|:----|:-----------------|------:|
| October 3, 2025   |     | $           | 44.41 |     | $        | 70.55 |     | $                | 82.88 |
| November 24, 2025 |     | $           | 42.33 |     | $        | 77.92 |     | $                | 79.00 |

For more information on the exchange ratio, see the section entitled “ The Mergers-Terms of the Mergers” beginning on page 74 and “ The Merger Agreement — Merger Consideration” beginning on page 120. Treatment of Comerica Preferred Stock and Depository Shares (page 117) In the first merger, each share of Comerica preferred stock issued and outstanding immediately prior to the effective time of the first merger will convert into the right to receive one (1) share of a new Fifth Third preferred stock with terms that are not materially less favorable than the terms of Comerica preferred stock and each Comerica depositary share will be automatically converted into a new Fifth Third depositary share. Each outstanding share of Comerica preferred stock is presently represented by Comerica depositary shares that represent a 1/40th ownership interest in a share of the Comerica preferred stock. Upon completion of the first merger, Fifth Third will assume the obligations of Comerica under the applicable deposit agreements. Each such Comerica depositary share will then become a new Fifth Third preferred depositary share and thereafter represent interests in shares of new Fifth Third preferred stock.

20

For a description of the terms of the new Fifth Third preferred stock, see the section entitled
“Description of New Fifth Third Preferred Stock” beginning on page 150.

Treatment