Comerica Incorporated Barclays Global Financial Services Conference September 12, 2023 Curt Farmer Chairman & Chief Executive Officer Jim Herzog Chief Financial Officer Peter Sefzik Chief Banking Officer Kelly Gage Director of Investor Relations Safe Harbor Statement 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 the date of this presentation 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 (changes in customer behavior; unfavorable developments concerning credit quality; and declines or other changes in the businesses or industries of Comerica's customers); 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, or changes in Comerica’s status with respect to existing regulations 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 (changes in general economic, political or industry conditions; negative effects from inflation; the effectiveness of methods of reducing risk exposures; the effects of catastrophic events, including pandemics; physical or transition risks related to climate change; changes in accounting standards; 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, 2022, as updated by “Item 1A. Risk Factors” beginning on page 60 of Comerica’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2023. 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. 2©2023, Comerica Inc. All rights reserved.

Enhancing our position for long term success Accelerating select investments Capitalizing on our core strengths Optimizing resources • Enhance our deposit base: Small Business, Payments, Treasury Management • Drive non-margin revenue: Capital Markets, Wealth Management • Targeted products & services: Complementary fee & relationship products • Proven risk profile: Demonstrated credit discipline • Favorable business mix: Distinctive Commercial Franchise with strong Wealth Management & Retail Capabilities • Attractive funding profile: Robust, low-cost deposit base • Committed to efficiency: Efficient technology & operations • Maximize capital & liquidity: Strategic exit of Mortgage Banker Finance & increased selectivity across portfolio 3©2023, Comerica Inc. All rights reserved. The Right Balance Positioned to effectively meet the unique needs of our target customers Experienced & tenured team delivering consistency to our relationships across markets & businesses Tailored solutions & customized product offerings to meet our customers needs Localized advice for our customers Industry expertise adding unique value to our customers Full suite of products & services including credit capacity, treasury management, wealth management & capital market solutions Community engagement recognizing we all play a role in advancing the markets & communities we serve

©2023, Comerica Inc. All rights reserved. Loan Update 51.1 52.4 53.5 55.4 54.3 30.0 40.0 50.0 60.0 3Q22 4Q22 1Q23 2Q23 3Q23 Thru 8/31 Loan Trends ($ in billions; average) Quarter-to Date Trends • $1.1B decrease in QTD average loans1 • Growth in Commercial Real Estate & US Banking more than offset by decline in Mortgage Banker, Equity Funds Services & Middle Market Lending Update on Strategic Actions • Planned exit of Mortgage Banker progressing in line with expectations • Addressing return of profile new & existing relationships in other business lines 3Q23 metrics through 8/31/23 are preliminary & subject to change. Source for peer data: S&P Global Market Intelligence & company press releases; for a comprehensive list of our peer group used throughout this presentation, please see our 2023 Proxy Statement 1Comparisons of 3Q23 through 8/31/23 vs 2Q23 5 Agile balance sheet management following record average loans in 2nd quarter; prioritizing return profile 3.6 0.2 CMA Peer Avg. Loan Growth (Avg.; percentages; 2Q23 vs 1Q23) 1.8 -0.3 CMA Peer Avg. C&I Growth (Avg.; percentages; 2Q23 vs 1Q23) ©2023, Comerica Inc. All rights reserved. 3Q23 metrics through 8/31/23 are preliminary & subject to change. Source for peer data: S&P Global Market Intelligence & company press releases 1Comparisons of 3Q23 through 8/31/23 vs 2Q23 2The first calendar day in July fell on a weekend so the early payment is reflected on the Friday before, or 6/30. The first calendar day in September did not fall on a weekend so the 8/31 balance was not inflated with an early payment. 6 Deposits Update • $1,043MM increase in QTD average deposits1 + $2,497MM interest-bearing deposits; largest line of business increases in Corporate Banking, Middle Market Lending & Retail Banking - $1,454MM noninterest-bearing deposits; largest line of business declines in Retail, TLS & Business Deposit Services • NIB average deposit mix 45% QTD; average loan to deposit ratio of 83% • Period-end balances of $67.1B as of 8/31 increased $1.1B compared to 6/30 • Based on predefined payment dates2, the Direct Express balance was elevated by approximately $1.2B on 6/30 compared to 8/31 Deposit initiatives & pricing strategy drove interest-bearing growth; core deposits balances remain stable Deposit Trends ($ in billions; Average) 74.0 71.4 67.8 64.3 64.6 66.2 65.4 3Q22 4Q22 1Q23 2Q23 7/31 8/31 3Q23 Thru 8/31 120% 80%87% 50% 70% 90% 110% 130% 20 08 20 09 20 10 20 11 20 12 20 13 20 14 20 15 20 16 20 17 20 18 20 19 20 20 20 21 20 22 1Q 23 2Q 23 3Q 23 CMA Average Loan to Deposit Ratio Below Historical Average (period-end) 19 24 24 25 28 29 32 34 34 35 37 38 43 48 W B S H B A N C FG K EY SN V FI TB FH N W A L B O K F M TB C FR R F ZI O N C M A Peer Average Noninterest-bearing % of Total Deposits (Avg; percentages; 2Q23) Th ru 8 /3 1

2Q23 Source for peer data: S&P Global Market Intelligence & company press releases 4 5 7 7 7 8 8 9 10 11 11 18 24 137 R F C FG M TB W B S SN V FI TB K EY C FR FH N H B A N B O K F ZI O N W A L C M A Loan Loss Reserve / LTM NCO (times; 2Q23 period-end) -0.5 0.0 0.5 1.0 1.5 2.0 2.5 3.0 20 07 20 08 20 09 20 10 20 11 20 12 20 13 20 14 20 15 20 16 20 17 20 18 20 19 20 20 20 21 20 22 1Q 23 2Q 23 Total CMA Peer Average Net Charge-offs Through Cycle (as a % of average loans) ©2023, Comerica Inc. All rights reserved. 7 (0.01) 0.06 0.09 0.12 0.15 0.16 0.16 0.17 0.22 0.24 0.29 0.33 0.38 0.39 C M A W A L ZI O N B O K F FH N H B A N W B S K EY C FR SN V FI TB R F M TB C FG Net Charge-offs (recoveries) (percentages of average loans; 2Q23) 3.8 5.0 CMA Peer Avg. Commercial Criticized Loans (percentages of commercial loans; 2Q23 period-end) • Outperforming peers • Expect manageable migration • Well-diversified, relationship-based portfolio • Experienced managers with deep expertise • Conservative, consistent underwriting standards • Proactive, frequent customer dialogue Credit Quality Strong year-to-date metrics reinforce proven track record Total CMA Office Lending • Not primary strategy: Total CMA office <2% of total loans; outstandings within CRE line of business of $559MM, or ~1% of total CMA loans • Selective geography: Urban in-fill & suburban strategy • Majority recourse: Strong sponsors critical to underwriting • Strong credit: Only $26MM in criticized loans (or ~3% of total office portfolio) • Adjusted Debt Coverage: ~1.25x (CRE line of business; reflects stabilized properties, excludes projects under construction or in process of conversion) Multifamily 44% Industrial / Storage 34% Retail 6%Office 7% Single Family 1% Other 3% Land Carry 3%Multi use 2% Commercial Real Estate Line of Business Growth driven by multifamily & industrial projects; excellent credit quality & limited office exposure 6/30/23 1Excludes CRE business line loans not secured by real estate 2Primarily loans to real estate developers 3Criticized loans are consistent with regulatory defined Special Mention, Substandard, & Doubtful categories Primarily Lower Risk Multifamily & Industrial Storage1 (2Q23 period-end) Total $8.4B Commercial Real Estate Business Line Overview • Long history of working with well-established, proven developers • >90% of new commitments from existing customers • Significant up-front equity required (typically averaging 35-40%, often from institutional investors) • ~70% has recourse • Majority of commitments are construction • Primary strategy is financing development of Class A, urban infill multi-family & warehouse distribution in major sun belt metros (37% CA, 25% TX, 10% Southeast, 10% Southwest) • Modest credit migration driven by elevated rate environment, but remained very manageable • >60% of the portfolio maturing by the end of 2025 ©2023, Comerica Inc. All rights reserved. 8 Excellent Credit Quality in Commercial Real Estate Business No significant net charge-offs since 2014 ($ in millions) 2Q22 3Q22 4Q22 1Q23 2Q23 NAL 0.9 0.9 0.9 0.9 0.9 Criticized3 18 17 16 218 246 % Criticized 0.3% 0.2% 0.2% 2.5% 2.7% NCO (Recoveries) (0.01) (0.01) (0.01) (0.05) (0.13) CRE Line of Business2 $8.4B Owner-Occupied $7.4B Investor Owned $2.0B Outside of the Commercial Real Estate Line of Business Total Commercial Real Estate Lending From 6/30/23 10-Q

Noninterest Income Prioritizing fee income growth Goal to grow fee component Fee Income Growth Strategy Net Interest Income 67% Noninterest Income 33% 2Q23 Revenue $924MMDeliver more consistent, capital-efficient revenue • Elevate digital experience • Invest selectively in new products • Enhance products aligned with customer feedback & strategic priorities • Collaborate across 3 revenue divisions Drive increased retention & acquisition of customers 64 72 51 47 52 62 26 3957 83250 303 2Q19 2Q23 Card Fees Dep. Service Charges Fiduciary Income Capital Markets Other 21% Noninterest Income Growth ($ in millions) ©2023, Comerica Inc. All rights reserved. 9 10©2023, Comerica Inc. All rights reserved. Prioritizing select, strategic investments for the future Deposits Product enhancements Marketing strategy Process improvements Small Business Lending, deposit & treasury management products Leadership Wealth Management Select hires & team lift-outs Partnerships Lending products Technology Platform modernization Digital experience Data management Cyber security & risk Payments & FDIC product enhancements Faster credit approval & funding, elevated cash management & enhanced payment solutions Southern California team Ameriprise partnership Data center migration Enabled product enhancements Recent Successes

9,035 7,672 2012 2Q23 Expense Management Track record of discipline & efficiency; investing for the future 6/30/23 Source for peer data: S&P Global Market Intelligence 1Excluding WAL due to mergers & acquisitions 2Excluding CFR & WBS as data is not available Employees (FTE) Revenue / Employee2 (2Q23; $ in millions) • Supporting strategic revenue priorities • Optimizing footprint, modernizing facilities • Consolidating or relocating banking centers • Continued investment in technology -15% 11©2022, Comerica Inc. All rights reserved. 120 110 CMA Peer Avg. 45.0 50.0 55.0 60.0 65.0 70.0 75.0 20 08 20 09 20 10 20 11 20 12 20 13 20 14 20 15 20 16 20 17 20 18 20 19 20 20 20 21 20 22 1Q 23 2Q 23 Total CMA CMA Average Efficiency Ratio (percentages) 5-year Noninterest Expense CAGR FY22 vs. FY18 CMA 2.18% Peer Average 7.47% Peer Average ex. WAL1 6.25% • Enhancing risk & compliance • Preparing for regulatory changes 5.48% 5.06% 8.98% 9.22% 1Q23 2Q23 Impact of AOCI Losses TCE Ratio Capital Management Strong capital position above target CET1 of ~10% 6/30/23 Source for peer data: S&P Global Market Intelligence & company press releases 1Outlook as of 7/21/23 2Various assumptions including, but not limited to 6/30/23 forward curve, no new hedges & constant tax rate; pension is not projected & held constant 3Refer to reconciliation of non-GAAP financial measures in appendix 41Q23 impact of cash was 0.49% 5GAAP peer common equity ratios ranged from 5.55% to 11.46%, with CMA common equity ratio the second lowest. For more information and a reconciliation of CMA tangible common equity ratio excluding AOCI, refer to the appendix. 10.12% 10.31% 7.0% 1Q23 2Q23 CET1 Tier 1 10.61% 10.80% 8.5% 1Q23 2Q23 Regulatory Minimum + Capital Conservation Buffer (CCB) 12©2023, Comerica Inc. All rights reserved. Tangible Common Equity Ratio3,4Common Equity Ratio3 (0.8) (1.5) (2.4) (2.3) (2.1) (2.2) (1.6) (1.5)(0.2) (0.3) (1.0) (0.9) (0.6) (1.0) (0.4) (0.2) (0.2) (0.2) (0.2) (0.5) (0.5) (0.5) (0.5) (0.5) 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 4Q24 2Q25 Securities Swaps Pension Accumulated Other Comprehensive Income2 ($ in billions) Projected1 7.42 7.58 7.79 7.81 7.89 8.05 8.12 8.24 8.28 8.32 8.49 9.22 9.34 9.53 H B A N K EY ZI O N FI TB W A L M TB C FR W B S C FG R F SN V C M A FH N B O K F Tangible Common Equity Ratio ex. AOCI3,5 Capital Strategy • Prioritize capital to support our customers • Share repurchases paused; resumption subject to regulatory clarity, but not anticipated in 2023 • Assess impact of proposed regulatory changes on business • Prepare to comply with new regulations 6.15% 5.73% 9.63% 9.87% 1Q23 2Q23 Impact of AOCI Losses Common Equity Ratio

13©2023, Comerica Inc. All rights reserved. Our Differentiated Value Proposition A Leading Bank for Business complemented by strong Retail & Wealth Management Long-standing, trust- based customer relationships, averaging >15 years in Middle Market Tenured, expert relationship & group managers with average 10 & 20 years at Comerica, respectively Consistent, disciplined credit underwriting standards & a “through- the-cycle” mindset Diversified business mix with attractive, growth & relationship-oriented business lines like Middle Market, Environmental Services & Small Business Complimentary marketing services to help small businesses grow Distinctive Treasury Solutions used for ~95% of Commercial noninterest- bearing deposits Complementary Capital Markets business Differentiated Wealth Management business specializing in the needs of business owners and executives, used by 36% of Commercial clients1 Largest third-party fiduciary business in the country with Advisor Solutions serving some of the country’s largest Broker Dealers in Estate Settlement; Oil, Gas & Mineral Management; Special Needs Trusts & Philanthropic Deep, sticky operating accounts with our C&I customers driving an 84% loan-to-deposit ratio, below our 15-year average Expert bankers serving tenured customer relationships with average customer deposit balance exceeding industry Growing small business segment of deposit rich relationships (99% have a deposit relationship) Lean, modern technology architecture & delivery model, including our “digital factory” Investment spend focused only on areas of true competitive advantage Efficiency ratio of 58% Modernization journey to transform retail delivery to optimize experience & efficiency 6/30/23 1As of 3/31/23 Distinctive Commercial Franchise Complementary fee & relationship products Robust, low-cost deposit base Efficient technology & operations APPENDIX

Primary Markets Other Markets Office Locations Diversified Geographic Footprint Texas • Established: 1988 • #2 largest state GDP • Business friendly environment • Dallas-Fort Worth, Houston, Austin, San Antonio California • Established: 1991 • #1 largest state GDP • Deep industry expertise • L.A., San Diego, San Jose, San Francisco Michigan • Established: 1849 • #14 largest state GDP • Large retail deposit base • Detroit, Ann Arbor, Grand Rapids, Lansing Offices Across U.S. Southeast • Strong population growth & manufacturing base • 3 commercial offices in Raleigh, Winston-Salem & Charlotte • 8 banking centers in FL • New offices in SC & GA • Serving customers in FL, GA, NC, TN, SC & VA Mountain West • Fast growing economy, attractive climate • 17 banking centers in Phoenix area • 1 office in Denver • Serving customers in AZ & CO 15©2023, Comerica Inc. All rights reserved. Large, higher growth urban markets Highly integrated, cost-effective platform Predominance of small & mid-sized companies & wealth management opportunities 2Q23 Results Record loans, robust noninterest income, deposit stabilization & strong credit quality 1Includes gains/(losses) related to deferred comp asset returns of $(14MM) 2Q22, $4MM 1Q23, $4MM 2Q23 2Diluted earnings per common share 3Noninterest expenses as a percentage of the sum of net interest income and noninterest income excluding net gains (losses) from securities, a derivative contract tied to the conversion rate of Visa Class B shares and changes in the value of shares obtained through monetization of warrants (millions, except per share data) 2Q23 1Q23 2Q22 Change From 1Q23 2Q22 Average loans $55,368 $53,468 $50,027 $1,900 $5,341 Average deposits 64,332 67,833 77,589 (3,501) (13,257) Net interest income 621 708 561 (87) 60 Provision for credit losses 33 30 10 3 23 Noninterest income1 303 282 268 21 35 Noninterest expenses1 535 551 482 (16) 53 Provision for income tax 83 85 76 (2) 7 Net income 273 324 261 (51) 12 Earnings per share2 $2.01 $2.39 $1.92 $(0.38) $0.09 Efficiency Ratio3 57.70% 55.53% 58.03% CET1 10.31% 10.12% 9.72% Key Performance Drivers 2Q23 compared to 1Q23 • Average loans up 3.6% driven by broad-based growth across multiple businesses • Average deposit decline reflected diversification actions from first quarter disruption, but trends largely stabilized in the second half of the quarter • Net interest income benefited from loan growth, offset by full quarter impact of funding • Net recoveries of 1 bp; reserve ratio rose to 1.31% • 2nd highest noninterest income quarter as fee income remained a priority • Active expense management benefited from seasonal decline in salary & benefit expense & lower modernization expenses • Strong CET1 as earnings-related capital generation offset impact of loan growth & share repurchases remained paused 16©2023, Comerica Inc. All rights reserved.

2Q23 Review Average Loans Noninterest Income 17©2023, Comerica Inc. All rights reserved. 1Return on average common shareholders’ equity Delivered compelling results & advanced strategic priorities Return on Equity1 Tier 1 Capital Ratio • Launched new products & capabilities tailored to meet the unique needs of small business customers: Comerica Small Business Convenient CapitalTM aimed at providing faster approvals & funding for qualified customers Comerica MaximizeTM, elevated cash management solutions Comerica SmallBiz Co-OpTM, delivering strategic insights & other benefits to small business customers at no charge • Honored as SBA Lender of the Year in Michigan for 2022; CMA honored overall as a Top 10 Lender • Named one of Diversity Inc’s 2023 Top Noteworthy Companies • Recognized as one of the 50th most community-minded companies for 8th consecutive year • Achieved $2.9B in Green Lending in 2Q; aligned with commitment to sustainability • Published 15th annual Corporate Responsibility report (0.01)% 19.38% 10.80% Strong Financial Results Net Charge-Offs (Recoveries) Noninterest Expense $551MM $535MM 1Q23 2Q23 $282MM $303MM 1Q23 2Q23 $53B $55B 1Q23 2Q23 CMA vs Peers Expenses (percentages; 2Q23 vs 1Q23) 10.31 10.52 CMA Peer Avg. 19.38 13.76 CMA Peer Avg. Return on Equity3 (percentages; 2Q23) 56.0957.70 CMA Peer Avg. Efficiency Ratio4 (percentages; 2Q23) 2Q23 Source for peer data: S&P Global Market Intelligence & company press releases 1Excluding WAL as losses in 1Q23 skew results 2Refer to reconciliation of non-GAAP financial measures in appendix 3Return on average common shareholders’ equity 4Excluding CFR as data is not available ©2023, Comerica Inc. All rights reserved. -2.9 1.1 CMA Peer Avg. CET1 (Capital) Ratio (percentages; 2Q23) 7.4 3.9 CMA Peer Avg. Noninterest Income1 (percentages; 2Q23 vs 1Q23) 1.21 1.20 CMA Peer Avg. Return on Assets (percentages; 2Q23) 18 Net Interest Margin (percentages; 2Q23) 2.93 3.24 CMA Peer Avg. 12.12% (less avg. AOCI)2