Company: CMA
Filing Date: 2025-11-25
Form Type: DEFM14A
Source: 0001193125-25-297173
Chunk: 158

Company: COMERICA INC
Filing Date: 2025-11-25
Form: DEFM14A
Chunk 158
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6 and 100% thereafter. Fifth Third’s management also made certain adjustments to the prospective financial information prepared by Fifth Third management with respect to Comerica on a stand-alone basis to give effect to the estimated cost synergies and certain purchase accounting adjustments, certain restructuring charges, and other assumptions related to the merger to derive prospective financial information with respect to Comerica after giving effect to the merger, which was provided to Goldman Sachs by Fifth Third management and approved by Fifth Third for Goldman Sachs’s use and reliance in connection with its financial analyses and opinions as described in this joint proxy statement/prospectus under “— Opinion of Fifth Third’s Financial Advisor”. Such prospective financial information with respect to Comerica after giving effect to the merger included: (i) estimated net income to common of $836 million in the nine month period beginning second quarter of 2026 (excluding certain restructuring charges), and estimated net income to common of $1,461 million, $1,526 million and $1,618 million for calendar years 2027, 2028 and 2029, respectively, and (ii) estimated risk weighted assets in the nine month period beginning second quarter of 2026 of $77,411 million, and estimated risk weighted assets of $81,336 million, $85,460 million, and $89,796, for calendar years 2027, 2028 and 2029, respectively. The prospective financial information provided by Fifth Third management and Comerica management to Goldman Sachs and J.P. Morgan, respectively, and used by Goldman Sachs and J.P. Morgan in performing their respective financial analyses with respect to the combined company following the mergers, as approved by the 106

Fifth Third board of directors and Comerica board of directors, as applicable, included an estimated one-time pre-tax restructuring charge equal to approximately $1.3 billion, to be incurred at the completion of the mergers.

See above in this section for further information regarding the uncertainties underlying the synergy estimates as well as the sections entitled
“Cautionary Statement Regarding Forward-Looking Statements” and “Risk Factors” beginning on pages 48 and 50, respectively, for further information.

General

The prospective financial information of
Fifth Third and Comerica was prepared separately using, in some cases, different assumptions, and the different estimates are not intended to be added together. The sum of the prospective financial information for the two companies is not intended
to represent the results Fifth Third will achieve if the merg