Comerica Incorporated : 4Q21 Infographic

FOURTH QUARTER 2021 OVERVIEW

Strong loan & deposit growth in several businesses; robust fee income

EARNINGS PER SHARE	NET INTEREST INCOME	NONINTEREST INCOME	NONINTEREST EXPENSE
3%	3%	5%
$1.66
Lower PPP-related income	Remains robust with strong derivative income	Driven by tech labor, seasonality
			& deferred comp

NET INCOME	CREDIT QUALITY STRONG					79.1	84.5
			DEPOSITS
$228MM	• Nonperforming loans decreased,	LOANS	48.1	47.8	3Q21	4Q21
3Q21
						7%
• $4MM, or 3 bp, net recoveries			1%
• $245MM decrease in criticized loans
	remaining at very low levels		($ in billions; Average)		($ in billions; Average)
			PPP loans declined $1B QoQ	Broad-based growth enhanced by seasonality

"Fourth quarter, excluding a nearly $1 billion decrease in PPP loans, average loans grew more than $600 million and we continued to drive very strong deposit growth. Robust fee income, exceptional credit quality and continued active capital management were also positive contributors to our performance. Expenses reflect investments in our people and technology to support our revenue-generating activities."

Curtis C. Farmer,

Comerica Chairman, President & CEO

RELATIONSHIP FOCUSED

DIVERSIFIED

EARNINGS PER SHARE	TOTAL SHAREHOLDER RETURN¹
			62	(FYE21 vs. FYE20; percentages)
	$1.90	$1.66		43	38
$1.53				29
4Q20	3Q21	4Q21	CMA	PEERS	BKX	S&P 500
REVENUE OPPORTUNITIES	CREDIT DISCIPLINE	EXPENSE CONTROL	UNIQUELY POSITIONED

STRENGTHS	• Diverse geographic footprint,
including faster growth markets
• Balanced exposure to a wide
variety of industries
• Expertise in specialty businesses
• Long-tenured, experienced team
KEY

• High-caliber,robust Cash Management suite, including Card programs
• Collaboration between the three revenue divisions

• Conservative underwriting standards
• Superior credit performance through last recession

• Nimble asset size

• Weighted to commercial banking

• Strong noninterest-bearing deposit base

• Continuous improvement culture
• Invest for the future
• Leveraging technology to drive

productivity & growth

4Q21 vs. 3Q21 • 1 Source: Bloomberg • EPS reflects diluted earnings per common share. Recast 2020 results. • This document is only a summary and is not intended to be complete.

For additional information on Comerica Incorporated, please refer to our public filings made with the Securities and Exchange Commission ("SEC"), which can be found at www.sec.gov, including, without limitation, our Current Report on Form 8-K, filed with the SEC on Jan. 19, 2022.

FULL YEAR

2021 OVERVIEW

Revenue growth driven by fee income; excellent credit quality

EARNINGS PER SHARE

$8.35

NET INCOME

COLLEAGUE

SUPPORT

Implemented hybrid work arrangements and enhanced

COMMUNITY

commitment to $5B to small businesses

FINANCIAL

PERFORMANCE

Record Total Assets

($ in billions; Average)

$1.2B

employee benefits

of colleagues rated

94% COVID-19 Response as Excellent

(2021-2023)

Comerica's Financial Education Brigade program served ~50,000 LMI individuals

71

90

81

11%

2019 2020 2021

"Our 2021 financial results were strong as we generated record earnings per share of $8.35. Average deposits grew 19 percent, which supported solid loan performance in a number of businesses and provided significant excess liquidity to fund future growth. Revenue increased to $3.0 billion. While net interest income was challenged by the ultra-low-rate environment, noninterest income growth was broad-based, increasing 12 percent to an all-time high. Credit quality was excellent, and we released credit reserves. As a result of strong capital generation, we returned $1.1 billion to common shareholders through dividends and repurchases of 9.5 million, or 7 percent, of total shares. Altogether, this drove ROE to over 15 percent and ROA to 1.30 percent."

Curtis C. Farmer,

Comerica Chairman, President & CEO

DIVERSITY, EQUITY

& INCLUSION

Recognized by Forbes as a Best Employer for Women

Received a perfect 100% on Human Rights Campaign Foundation's 2021 Corporate Equality Index

Received 5-Star recognition in Corporate Inclusion Index from Hispanic Association on Corporate Responsibility

ENVIRONMENTAL

SUSTAINABILITY

$1.7B in green loans & commitments

#1listed bank on Newsweek's America's Most Responsible Companies

TOP100	Corporate Knights
Companies
	Most Sustainable

Record Deposits

($ in billions; Average)

	65	78
55
		19%
2019	2020	2021

Record Book Value¹

(Dollars per share; Period-End)

51.57	55.01	57.41
		4%
2019	2020	2021

2021 vs. 2020 • 1 Common shareholders' equity per share of common stock. This document is only a summary and is not intended to be complete.

Any statements in this presentation that are not historical facts are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Words such as "anticipates," "believes," "contemplates," "feels," "expects," "estimates," "seeks," "strives," "plans," "intends," "outlook," "forecast," "position," "target," "mission," "assume," "achievable," "potential," "strategy," "goal," "aspiration," "opportunity," "initiative," "outcome," "continue," "remain," "maintain," "on track," "trend," "objective," "looks forward," "projects," "models" and variations of such words and similar expressions, or future or conditional verbs such as "will," "would," "should," "could," "might," "can," "may" or similar expressions, as they relate to Comerica or its management, are intended to identify forward-looking statements. These forward-looking statements are predicated on the beliefs and assumptions of Comerica's management based on information known to Comerica's management as of the date of this presentation and do not purport to speak as of any other date. Forward-looking statements may include descriptions of plans and objectives of Comerica's management for future or past operations, products or services, and forecasts of Comerica's revenue, earnings or other measures of economic performance, including statements of profitability, business segments and subsidiaries as well as estimates of credit trends and global stability. Such statements reflect the view of Comerica's management as of this date with respect to future events and are subject to risks and uncertainties. Should one or more of these risks materialize or should underlying beliefs or assumptions prove incorrect, Comerica's actual results could differ materially from those discussed. Factors that could cause or contribute to such differences include credit risks (unfavorable developments concerning credit quality; declines or other changes in the businesses or industries of Comerica's customers, in particular the energy industry; and changes in customer behavior); market risks (changes in monetary and fiscal policies; fluctuations in interest rates and their impact on deposit pricing; and transitions away from LIBOR towards new interest rate benchmarks); liquidity risks (Comerica's ability to maintain adequate sources of funding and liquidity; reductions in Comerica's credit rating; and the interdependence of financial service companies); technology risks (cybersecurity risks and heightened legislative and regulatory focus on cybersecurity and data privacy); operational risks (operational, systems or infrastructure failures; reliance on other companies to provide certain key components of business infrastructure; the impact of legal and regulatory proceedings or determinations; losses due to fraud; and controls and procedures failures); compliance risks (changes in regulation or oversight; the effects of stringent capital requirements; and the impacts of future legislative, administrative or judicial changes to tax regulations); strategic risks (damage to Comerica's reputation; Comerica's ability to utilize technology to efficiently and effectively develop, market and deliver new products and services; competitive product and pricing pressures among financial institutions within Comerica's markets; the implementation of Comerica's strategies and business initiatives; management's ability to maintain and expand customer relationships; management's ability to retain key officers and employees; and any future strategic acquisitions or divestitures); and other general risks (impacts from the COVID-19 global pandemic; changes in general economic, political or industry conditions; the effectiveness of methods of reducing risk exposures; the effects of catastrophic events; changes in accounting standards and the critical nature of Comerica's accounting policies; and the volatility of Comerica's stock price). Comerica cautions that the foregoing list of factors is not all-inclusive. For discussion of factors that may cause actual results to differ from expectations, please refer to our filings with the Securities and Exchange Commission. In particular, please refer to "Item 1A. Risk Factors" beginning on page 13 of Comerica's Annual Report on Form 10-K for the year ended December 31, 2020. Forward-looking statements speak only as of the date they are made. Comerica does not undertake to update forward-looking statements to reflect facts, circumstances, assumptions or events that occur after the date the forward-looking statements are made. For any forward-looking statements made in this presentation or in any documents, Comerica claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.

FOR MORE INFORMATION: Darlene Persons, Director of Investor Relations 214.462.6831 | [e-mail]