Company: CMA
Filing Date: 2025-11-25
Form Type: DEFM14A
Source: 0001193125-25-297173
Chunk: 120

Company: COMERICA INC
Filing Date: 2025-11-25
Form: DEFM14A
Chunk 120
---
 corporation with a larger scale and market presence than Comerica 
 on a stand-alone basis, including in all Midwest markets in which the combined enterprise operates and in attractive high-growth markets, which would thereby enable Comerica to serve an expanded customer base                                         
 and position it for continued growth and investment;                                                                                                                                                                                                     |

| • |     | the strategic rationale for the mergers, including (i) that the mergers would create one of the largest                                                                                                                                           
 banks in the United States with $288 billion of total assets, $174 billion of loans and $224 billion of deposits, (ii) that the combined enterprise would operate in 17 of the 20 fastest-growing, large metropolitan statistical                 
 areas and have top 5 market share in all Midwest markets in which the combined enterprise would operate and a clear path to top 5 market share in high-growth Southeast and Texas markets, (iii) that the mergers would create a more diversified 
 platform by combining Fifth Third’s award-winning retail banking and digital capabilities with Comerica’s strong middle market banking franchise and attractive footprint and (iv) that the combined enterprise would have two                    
 $1 billion recurring and high-return fee businesses – Commercial Payments and Wealth and Asset Management – which provide durable, diversified earnings and the additional capacity to reinvest in future growth;                                 |

| • |     | the belief that the merger would create, and enable the holders of Comerica common stock to become shareholders                                                                     
 of, a banking franchise with enhanced scale, a diversified geographic footprint and enhanced and diversified product capabilities that will create opportunities for future growth; |

| • |     | the belief that the combined enterprise would be more profitable than Comerica would be on a standalone basis,          
 estimated to have the highest efficiency ratio and return on tangible common equity among super regional banks by 2027; |

| • |     | the belief that the mergers would create a strong middle market banking business by combining Comerica’s                                                                                                                           
 deep, relationship-driven middle market platform serving diverse industries across the country with Fifth Third’s leading payments products in core treasury management, broad market capabilities and award-winning private bank; |

| • |     | the fact that the fixed exchange ratio in the mergers would provide Comerica stockholders with consideration                                                                                      
 valued at $82.88 per share based on Fifth Third’s closing stock price on October 3, 2025, the last trading day prior to the announcement of the mergers, representing a 20% premium to Comer