Company: FITBI
Filing Date: 2025-11-05
Form Type: S-4
Source: 0001193125-25-267273
Chunk: 377

Company: FIFTH THIRD BANCORP
Filing Date: 2025-11-05
Form: S-4
Chunk 377
---
 nor is it to be filed with, included in or referred to in whole or in part in any registration statement, proxy statement or any other document, except in accordance with our prior written consent. Very truly yours,

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

B-1

200 West Street | New York, NY 10282-2198

Tel: 212-902-1000 | Fax: 212-902-3000

PERSONAL AND CONFIDENTIAL

October 5, 2025

Board of Directors

Fifth Third Bancorp

38 Fountain Square Plaza

Cincinnati, Ohio 45263

Ladies and Gentlemen:

You have requested our opinion as to the fairness from a financial point of view to Fifth Third Bancorp (the “Company”) of the exchange ratio (the
“Exchange Ratio”) of 1.8663 shares of common stock, without par value (the “Company Common Stock”), of the Company to be issued in exchange for each share of common stock, par value $5.00 per share (the “Comerica Common
Stock”), of Comerica Incorporated (“Comerica”) pursuant to the Agreement and Plan of Merger, dated as of October 5, 2025 (the “Agreement”), by and among the Company, Fifth Third Financial Corporation, a
wholly-owned subsidiary of the Company, Comerica and Comerica Holdings Incorporated, a wholly-owned subsidiary of Comerica.

Goldman Sachs & Co.
LLC and its affiliates are engaged in advisory, underwriting, lending and financing, principal investing, sales and trading, research, investment management and other financial and non-financial activities and
services for various persons and entities. Goldman Sachs & Co. LLC and its affiliates and employees, and funds or other entities they manage or in which they invest or have other economic interests or with which they co-invest, may at any time purchase, sell, hold or vote long or short positions and investments in securities, derivatives, loans, commodities, currencies, credit default swaps and other financial instruments of the
Company, Comerica and any of their respective affiliates and third parties, or any currency or commodity that may be involved in the transactions contemplated by the Agreement (the “Transaction”). We have acted as financial advisor to
the Company in connection with, and have participated in certain of the negotiations leading to, the Transaction. We expect to receive