Company: FITBI
Filing Date: 2025-11-05
Form Type: S-4
Source: 0001193125-25-267273
Chunk: 380

Company: FIFTH THIRD BANCORP
Filing Date: 2025-11-05
Form: S-4
Chunk 380
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, any other term or aspect of the Agreement or Transaction or any
term or aspect of any other agreement or instrument contemplated by the Agreement or entered into or amended in connection with the Transaction, including, the fairness of the Transaction to, or any consideration received in connection therewith by,
the holders of any class of securities, creditors, or other constituencies of the Company; nor as to the fairness of the amount or nature of any compensation to be paid or payable to any of the officers, directors or employees of the Company or
Comerica, or any class of such persons in connection with the Transaction, whether relative to the Exchange Ratio pursuant to the Agreement or otherwise. We are not expressing any opinion as to the prices at which shares of Company Common Stock or
Comerica Common Stock will trade at any time, as to the potential effects of volatility in the credit, financial and stock markets on the Company, Comerica, or the Transaction, or as to the impact of the Transaction on the solvency or viability of
the Company or Comerica or the ability of the Company or Comerica to pay their respective obligations when they come due. Our opinion is necessarily based on economic, monetary, market and other conditions as in effect on, and the information made
available to us as of, the date hereof and

B-3

Board of Directors Fifth Third Bancorp October 5, 2025 Page Three we assume no responsibility for updating, revising or reaffirming this opinion based on circumstances, developments or events occurring after the date hereof. Our advisory services and the opinion expressed herein are provided for the information and assistance of the Board of Directors of the Company in connection with its consideration of the Transaction and such opinion does not constitute a recommendation as to how any holder of Company Common Stock should vote with respect to such Transaction or any other matter. This opinion has been approved by a fairness committee of Goldman Sachs & Co. LLC. Based upon and subject to the foregoing, it is our opinion that, as of the date hereof, the Exchange Ratio pursuant to the Agreement is fair from a financial point of view to the Company. Very truly yours,

| /s/ Goldman Sachs & Co. LLC |
| (GOLDMAN SACHS & CO. LLC)   |

B-4

ANNEX C

October 5, 2025

The
Board of Directors

Comerica Incorporated

1717 Main Street,
MC 6404

Dallas, Texas 75201