Curt Farmer Chairman & Chief Executive Officer Jim Herzog Chief Financial Officer Peter Sefzik Chief Banking Officer Kelly Gage Director of Investor Relations Comerica Incorporated Goldman Sachs Financial Services Conference December 5, 2023 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 64 of Comerica’s Quarterly Report on Form 10-Q for the quarter ended September 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.

Recent Awards & Recognition Top Workplaces 2023 designation by Dallas-Forth Worth Metro Area Top Workplaces Named 2023 Impact Award Recipient by Datos Insights Volunteerism Initiative Received National Recognition During American Bankers Association Community Impact Awards 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, & capital market solutions Community engagement recognizing we all play a role in advancing the markets & communities we serve Commercial Bank 86% 10% 4% Commercial Bank Wealth Management Retail Bank 48% 6% 37% 9% Commercial Bank Wealth Management Retail Bank Other ©2023, Comerica Inc. All rights reserved. Diversified Businesses Unique & complementary model Loans1 Deposits2 1Average 3Q23 loans 2Average 3Q23 deposits 4 Wealth Management Deliver a first-class commercial solution as a “Leading Bank for Business” including a robust digital suite Grow Middle Market, Business Banking & Specialty Businesses in which we have expertise Generate capital- efficient fee income leveraging Focus on organic & other strategic growth opportunities Deliver a high level of service to customers across all touchpoints Provide important funding source for the Corporation in terms of size, granularity & deposit diversification Retail Bank Cohesive relationship strategy across our divisions unlocks the value of our franchise

Loan Update Optimizing loans to enhance returns & position for future growth 4Q23 metrics through 11/30/23 are preliminary & subject to change. Quarterly and other shorter-duration results may not be representative of longer-duration performance due to business seasonality or other circumstances 1Comparisons of 4Q23 through 11/30/23 vs 3Q23 2Outlook as of 12/4/23 3C&I loan growth calculated as the average C&I loans in 3Q23 compared to 3Q22 based on H.8 data for weeks ending in each respective quarter 5©2023, Comerica Inc. All rights reserved. 53.7 56.5 57.5 57.0 55.5 45% 45% 46% 47% 47% 3Q22 4Q22 1Q23 2Q23 3Q23 Utilization Loan Commitments Declined with Increased Selectivity (period-end: $ in billions) 2.50% 1.28% 0.92% CMA All Commercial Banks Large Commercial Banks C&I Loan Growth3 (average; 3Q23 vs. 3Q22) 52.4 53.5 55.4 54.0 53.0 30.0 40.0 50.0 60.0 4Q22 1Q23 2Q23 3Q23 4Q23 Thru 11/30 Loan Trends ($ in billions; average) Quarter-to-Date Trends Through 11/30 • ~$1B decrease in QTD average loans1 • Largest declines in Mortgage Banker, Equity Funds Services, Corporate Banking & Middle Market • Increases in Commercial Real Estate & National Dealer Services • 4Q Outlook2: Expect selectivity to drive average balances lower than prior 4Q guidance ©2023, Comerica Inc. All rights reserved. 4Q23 metrics through 11/30/23 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 please see our 2023 Proxy Statement 1Comparisons of 4Q23 through 11/30/23 vs 3Q23 2Outlook as of 12/4/23 6 Deposits Update Quarter-to Date Trends Through 11/30 • QTD average deposits approximately flat compared to 3Q23 average1 • Increases in Middle Market Lending, Retail & TLS offset by decline in brokered CDs & Mortgage Banker Finance + ~$1B increase in interest bearing - ~$1B decrease in noninterest bearing • NIB average deposit mix 42% QTD; average loan to deposit ratio of 80% • 4Q Outlook2: Expect average balances in the higher end of the range from prior 4Q guidance Core deposits balances remained stable; deposit mix a competitive advantage Deposit Trends ($ in billions; Average) Loan to Deposit Ratio Below Historical Average (period-end) 19.0 22.1 22.5 22.6 26.0 26.7 27.3 30.5 33.1 33.9 35.7 36.3 36.9 44.0 W B S H B A N C FG K EY SN V FI TB FH N B O K F M TB W A L R F C FR ZI O N C M A Peer Average Noninterest-bearing % of Total Deposits (Avg; percentages; 3Q23) 120% 80% 86% 50% 60% 70% 80% 90% 100% 110% 120% 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 71.4 67.8 64.3 65.9 65.8 30.0 40.0 50.0 60.0 70.0 80.0 4Q22 1Q23 2Q23 3Q23 4Q23 Thru 11/30

Interest Rate Sensitivity Largely achieved strategic objective to protect earnings from rate volatility 11/30/23 1Outlook as of 12/4/23 2For methodology see Company’s Form 10-K, as filed with the SEC. Estimates are based on simulation modeling analysis from our base case which utilizes a static balance sheet as of 9/30/23 7©2023, Comerica Inc. All rights reserved. • >33% increase to FY22 NII over FY21 (including PPP) • 4 - 5% increase in 4Q22 over 3Q22 (including PPP) Management Outlook for Net Interest Inc me1 • 4Q Outlook: Expect net interest income in line with prior with prior 4Q guidance • Assuming • 11/21/23 forward rate curve • Loan & deposit outlook for remainder of year • No additional securities & swaps purchases beyond 11/30/23 Estimated 12-Month Net Interest Income Impact 100 bps gradual decrease -$17MM 100 bps gradual decrease & 55% incremental beta $3MM 100 bps gradual increase $9MM 100 bps gradual increase & 55% incremental beta -$25MM Sensitivity Analysis 9/30 Base Case Rates UP Rates DOWN Loan Balances Modest increase Modest decrease Deposit Balances Moderate decrease Moderate increase Deposit Beta ~38% per incremental change Securities Portfolio No reinvestment of cash flows Hedging (Swaps) No additions modeled 9/30/23 Standard Model Assumptions2 100 bps (50 bps avg) gradual, parallel rise Credit Quality 3Q23 Source for peer data: S&P Global Market Intelligence & company press releases 1Excluding CFR as data is not available 0.29 0.39 0.41 0.44 0.47 0.48 0.51 0.52 0.64 0.64 0.66 0.87 1.77 C M A ZI O N K EY W B S B O K F W A L FI TB H B A N FH N SN V R F C FG M TB Nonperforming Assets Ratio1 (as a percentage of total loans & foreclosed property; 3Q23) • Well-diversified, relationship-based portfolio • Experienced managers with deep expertise • Conservative, consistent underwriting standards • Proactive, frequent customer dialogue -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 3Q 23 Total CMA Peer Average Net Charge-offs Through Cycle (as a % of average loans) ©2023, Comerica Inc. All rights reserved. 8 0.05 0.06 0.10 0.11 0.11 0.23 0.24 0.24 0.29 0.40 0.41 0.41 0.60 0.61 C M A W A L ZI O N B O K F C FR W B S H B A N K EY M TB C FG FI TB R F SN V FH N Net Charge-offs (recoveries) (as a percentage of average loans; 3Q23)

Net Interest Income 67% Noninterest Income 33% Noninterest Income Prioritizing fee income growth Goal to grow fee component Fee Income Growth Strategy 3Q23 Revenue $896MM Deliver 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 YTD through 9/30/23 other income benefitted from: • FHLB dividends correlated with funding • Risk Management Income correlated with our swap position & rates; movement will be offset with net interest income Potential debt interchange revenue subject to new NPR is ~$6MM2 61 83 66 71 51 47 53 5926 35257 295 3Q19 3Q23 Other Card Fees Dep. Service Charges Fiduciary Income Capital Markets 15% Noninterest Income Growth ($ in millions) ©2023, Comerica Inc. All rights reserved. 93Q23 1Outlook as of 12/4/23 2Based on FY2022 as a baseline Other Income ($ in millions) 3Q19 2023 YTD Thru 9/30 3Q23 Estimated FY 2024 trend1 BOLI 11 36 13 Closer to 5-year average, ~$42.5MM Deferred Comp 3 6 (3) Traditionally assumed to be $0 FHLB & FRB Dividends 2 24 9 ~40 to 50% of the 3Q23 run rate Risk Management 0 31 17 ~60 to 80% of the 3Q23 run rate, subject to future rate environment All Other 45 139 46 Total 61 236 83 9,035 7,667 2012 3Q23 Expense Management Track record of discipline & efficiency 9/30/23 Source for peer data: S&P Global Market Intelligence 1Excluding WAL due to mergers & acquisitions 2WBS utilizing 2Q23 number of employees due to data availability 3Amount subject to FDIC review Employees (FTE) Revenue / Employee2 (3Q23; $ in millions) • Balancing selective, strategic investments to support revenue generation & further enhance risk management • Continued investment in technology • Optimizing footprint, modernizing facilities -15% 10©2023, Comerica Inc. All rights reserved. 117 113 CMA Peer Avg. 45.0 55.0 65.0 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 3Q 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% Noninterest Expense Change (percentages; 3Q23 vs 2Q23) -14.4 -3.5 -2.4 -1.6 -1.1 -1.0 1.8 2.9 3.2 3.7 3.8 5.4 10.0 15.1 FH N FI TB ZI O N R F M TB C FG B O K F C FR K EY C M A H B A N W B S W A L SN V Q4 2023: $109MM FDIC special assessment3

©2023, Comerica Inc. All rights reserved. Expense Calibration Assessing levers to enable strategic investments & enhance earnings power Real Estate Process Automation Business Optimization Colleague Efficiency Third Party Spend Discretionary Spend Focusing on… …to reinvest in Strategic Growth Risk Management & drive future Earnings Power 11 5.06% 4.62% 2Q23 3Q23 Tangible Common Equity Ratio Capital Management Strong capital position above target CET1 of ~10% 9/30/23 1Various assumptions including, but not limited to 9/30/23 forward curve, no new hedges & constant tax rate; pension is not projected & held constant 2Refer to reconciliation of non-GAAP financial measures in appendix 3Represents the impact of $4.5B in AOCI on common equity and $2.9B in corresponding impacts to total assets 4Considers AOCI for securities & pension & related RWA benefit utilizing 9/30/23 risk weighting. Does not assume other potential Basel III Endgame impacts (such as market risk, operational risk & changes to standard counter-party risk). 10.31% 10.80% 7.0% 2Q23 3Q23 CET1 Tier 1 10.80% 11.30% 8.5% 2Q23 3Q23 Regulatory Minimum + Capital Conservation Buffer (CCB) 12©2023, Comerica Inc. All rights reserved. 5.2 4.6 2Q23 3Q23 Common Equity Common Equity ($ in billions; period-end) Tangible Common Equity Ratio2 5.73% 5.34% 2Q23 3Q23 Common Equity Ratio Common Equity Ratio (0.8) (1.5) (2.4) (2.3) (2.1) (2.2) (2.8) (0.2) (0.3) (1.0) (0.9) (0.6) (1.0) (1.3) (0.2) (0.2) (0.2) (0.5) (0.5) (0.5) (0.5) 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 Securities Swaps Pension Accumulated Other Comprehensive Income1 ($ in billions) 3Q23: AOCI impact3 of (495 bps) AOCI impact3 of (502 bps) AOCI impact of ($4.5) Basel III Endgame Capital Considerations We are not subject to these proposed rules with ~$86B in assets as of 9/30/23. If subject to proposed Basel III Endgame capital requirements relating to AOCI opt-out changes, we estimate an approximate 400 basis point decrease to CET1 based on 9/30/234.

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 ~92% of Commercial noninterest- bearing deposits Complementary Capital Markets business Differentiated Wealth Management business specializing in the needs of business owners and executives, used by 38% 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 80% 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 (97% have a deposit relationship) Lean, modern technology architecture & delivery model, including our “digital factory” ~75% of our business applications are Cloud & SAAS based Investment spend focused only on areas of true competitive advantage Efficiency ratio in line with 15-year average Modernization journey to transform retail delivery to optimize experience & efficiency ©2023, Comerica Inc. All rights reserved. Our Differentiated Value Proposition A Leading Bank for Business complemented by strong Retail & Wealth Management Distinctive Commercial Franchise Complementary fee & relationship products Robust, low-cost deposit base Efficient technology & operations 9/30/23 1As of 6/30/23 13 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 platformPredominance of middle market companies & wealth management opportunities 1Average 3Q23 loans 2Average 3Q23 deposits 3Other Markets includes FL, AZ, International Finance Division & businesses that have a significant presence outside of the three primary geographic markets 34% 25% 14% 27% MI CA TX Other Markets 23% 35% 23% 19% MI CA TX Other Markets Loans1 Deposits2 3 3 3Q23 Results Successful deposit strategy, robust noninterest income & credit quality remained very strong 1Includes gains/(losses) related to deferred comp asset returns of ($3MM) 3Q22, $4MM 2Q23, ($3MM) 3Q23 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) 3Q23 2Q23 3Q22 Change From 2Q23 3Q22 Average loans $53,987 $55,368 $51,113 $(1,381) $2,874 Average deposits 65,883 64,332 73,976 1,551 (8,093) Net interest income 601 621 707 (20) (106) Provision for credit losses 14 33 28 (19) (14) Noninterest income1 295 303 278 (8) 17 Noninterest expenses1 555 535 502 20 53 Provision for income tax 76 83 104 (7) (28) Net income 251 273 351 (22) (100) Earnings per share2 $1.84 $2.01 $2.60 $(0.17) $(0.76) Efficiency Ratio3 61.86% 57.70% 50.75% CET1 10.80% 10.31% 10.45% Key Performance Drivers 3Q23 compared to 2Q23 • Average loans declined 2.5% with the exit of Mortgage Banker Finance & increased selectivity prioritizing returns • Successfully regained customer deposits, driving average deposit growth of 2.4% • Net interest income impacted by deposit pricing & loan optimization • Modest net charge-offs of 5 bps; reserve ratio rose to 1.38% reflecting normalization • Noninterest income remained robust with only a modest decline largely driven by deferred compensation • Navigating expense pressures & assessing opportunities for offsets • Strong CET1 as earnings & loan optimization further increased capital above our 10% target 16©2023, Comerica Inc. All rights reserved.

3Q23 Review 17©2023, Comerica Inc. All rights reserved. 1Net credit-related charge-offs; annualized, as a percentage of average total loans 2Return on average common shareholders’ equity Compelling results position us for the future • Modernized Technology Platforms: • >75% of business applications running on a Cloud or SAAS platform • Enabled agile delivery of product enhancements • Invested in Wealth Management: • Progressing towards Ameriprise transition • Selective acquisition of talent (e.g., new team in southern California) • Prioritized Small Businesses: • Exceeded our 3-year goal to lend $5B to Small Businesses; achieved 102% of our commitment, assisting > 15K small businesses across our footprint. • Delivered award winning, targeted deposit product • Excelled in Corporate Responsibility: • Actively invested in the community through targeted funds, CDFIs and over $20MM in MDI investments & renewals year to date • Published inaugural financed emissions report • Green Lending increased ~30% compared to YTD 2022 Average Deposits Noninterest Income Return on Equity2 0.05% 19.50% Strong Financial Results Net Charge-Offs (Recoveries)1 $66B $295MM -5.0 -4.1 CMA Peer Avg. Noninterest-bearing Deposit Change (Avg.; percentages; 3Q23 vs 2Q23) Interest-bearing Deposit Change (Avg.; percentages; 3Q23 vs 2Q23) 9.2 6.7 CMA Peer Avg. CMA vs Peers 3Q23 Source for peer data: S&P Global Market Intelligence & company press releases Interest-Bearing Deposit Cost (percentages; 3Q23) 18©2023, Comerica Inc. All rights reserved. Noninterest-bearing % of Total Deposits (Avg; percentages; 3Q23) Total Deposit Change (PE; percentages; 3Q23 vs 2Q23) 1.7 1.4 CMA Peer Avg. 2.90 2.72 CMA Peer Avg. Loan Growth (Avg.; percentages; 3Q23 vs 2Q23) 80 79 CMA Peer Avg. Loan to Deposit Ratio (PE; percentages; 3Q23) Loan Yield (percentages; 3Q23) 6.34 6.18 CMA Peer Avg. -2.5 -2.5 -1.9 -1.4 -1.4 -0.7 -0.5 -0.5 0.2 0.5 1.7 2.3 2.5 2.9 C M A K EY C FG FI TB SN V M TB H B A N W B S R F ZI O N C FR B O K F FH N W A L 19.0 22.1 22.5 22.6 26.0 26.7 27.3 30.5 33.1 33.9 35.7 36.3 36.9 44.0 W B S H B A N C FG K EY SN V FI TB FH N B O K F M TB W A L R F C FR ZI O N C M A