Post-Stabilisation Notice                           

    13th January, 2017

    Not for distribution, directly or indirectly, in or into the United States or
    any jurisdiction in which such distribution would be unlawful.

     Commerzbank AktiengesellschaftEUR500,000,000 4.00% Tier 2 Notes  due 30 March 
                                         2027                                      

                           Issued off the Medium Term Note                         

                               Post-Stabilisation Notice                           

    Commerzbank (contact: Ian Turner; telephone: 44-207-475-1817) hereby gives
    notice that no stabilisation (within the meaning of Article 3.2 (d) of the
    Market Abuse Regulation (EU Regulation 596/2014))) was undertaken by the
    Stabilising Manager(s) named below in relation to the offer of the following
    securities.

    Issuer:                    Commerzbank Aktiengesellschaft             
                                                                          
    Guarantor (if any):        n/a                                        
                                                                          
    ISIN:                      DE000CZ40LW5                               
                                                                          
    Aggregate nominal amount:  EUR 500,000,000                            
                                                                          
    Description:               4.00% Tier 2 Notes due March 2027          
                                                                          
    Stabilisation Manager (s): Commerzbank Aktiengesellschaft             
                                                                          
                               Credit Agricole Corporate & Investment Bank
                               Credit Suisse                              
                               Merrill Lynch International Limited        
                               UBS Limited                                

    This announcement is for information purposes only and does not constitute an
    invitation or offer to underwrite, subscribe for or otherwise acquire or
    dispose of any securities of the Issuer in any jurisdiction.

    This announcement is not for distribution, directly or indirectly, in or into
    the United States or any other jurisdiction in which such distribution would be
    unlawful.