#1Comerica Incorporated First Quarter 2017 Financial Review April 18, 2017 com Safe Harbor Statement Comerica Bank 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 course," "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, including the Growth in Efficiency and Revenue initiative ("GEAR Up"), 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 the economic benefits of the GEAR Up initiative, 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 are changes in general economic, political or industry conditions; changes in monetary and fiscal policies, including changes in interest rates; whether Comerica may achieve opportunities for revenue enhancements and efficiency improvements under the GEAR Up initiative, or changes in the scope or assumptions underlying the GEAR Up initiative; Comerica's ability to maintain adequate sources of funding and liquidity; the effects of more stringent capital or liquidity requirements; declines or other changes in the businesses or industries of Comerica's customers, in particular the energy industry; unfavorable developments concerning credit quality; operational difficulties, failure of technology infrastructure or information security incidents; changes in regulation or oversight; reliance on other companies to provide certain key components of business infrastructure; changes in the financial markets, including fluctuations in interest rates and their impact on deposit pricing; reductions in Comerica's credit rating; the interdependence of financial service companies; the implementation of Comerica's strategies and business initiatives; 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; changes in customer behavior; any future strategic acquisitions or divestitures; management's ability to maintain and expand customer relationships; management's ability to retain key officers and employees; the impact of legal and regulatory proceedings or determinations; the effectiveness of methods of reducing risk exposures; the effects of terrorist activities and other hostilities; the effects of catastrophic events including, but not limited to, hurricanes, tornadoes, earthquakes, fires, droughts and floods; potential legislative, administrative or judicial changes or interpretations related to the tax treatment of corporations; changes in accounting standards and the critical nature of Comerica's accounting policies. Comerica cautions that the foregoing list of factors is not exclusive. 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 12 of Comerica's Annual Report on Form 10-K for the year ended December 31, 2016. 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. Comerica Bank 2#2Financial Summary 1Q17 4Q16 1Q16 Diluted income per common share $1.11 $0.92 $0.34 Net interest income $470 $455 $447 Net interest margin 2.86% 2.65% 2.81% Provision for credit losses 16 35 148 Net credit-related charge-offs to average loans 0.28% 0.29% 0.49% Noninterest income 271 267 244 Noninterest expenses 457 461 458 Restructuring expenses Net income Average loans 11 20 202 164 60 $47,900 $48,915 $48,392 Average deposits 57,779 59,645 56,708 Efficiency ratio² 61.63% 63.58% 65.99% Return on average common shareholders' equity 10.42 8.43 3.14 Return on average assets 1.14 0.88 0.35 Common equity Tier 1 capital ratio 11.54%¹ 11.09% 10.58% Average diluted shares (millions) 180 177 176 $ in millions, except per share data ⚫1Estimated 2Noninterest expenses as a percentage of the sum of net interest income (FTE) and noninterest income excluding net securities gains (losses). Comerica Bank First Quarter 2017 Results Net income increased 23% over 4Q16 1Q17 Average loans Change From 4Q16 1Q16 $47,900 $(1,015) $(492) Average deposits 57,779 (1,866) 1,071 Net interest income 470 15 23 Provision for credit losses 16 (19) (132) Net credit-related charge-offs 33 (3) (19) Noninterest income 271 4 27 Noninterest expenses¹ 457 (4) (1) Key QoQ Performance Drivers Loans reflect Mortgage Banker seasonality & Energy portfolio reduction Deposits show typical 1Q decline Net interest income benefitted from increase in interest rates Provision & net charge-offs decreased with Energy credit improvement Noninterest income grew with higher deposit service charges, investment banking & fiduciary income Provision for income tax² 66 4 41 Expenses reflect lower restructuring Net income 202 38 142 charges & GEAR Up driven expense cuts partly offset by seasonally elevated comp Earnings per share (EPS)³ 1.11 0.19 0.77 Equity repurchases4 105 6 63 Lower tax rate due to benefit from employee stock transactions 3 $ in millions, except per share data 1Q17 compared to 4Q16 Active capital management continued Included restructuring charge of $11MM ($0.04 per share, after tax) in 1Q17 & $20MM ($0.07 per share, after tax) in the 4Q16 ⚫ 2Included tax benefit of $24MM ($0.13 per share) from employee stock transactions EPS based on diluted income per share ⚫41Q17 repurchases under the equity repurchase program Comerica Bank 4#3Loans Declined with Typical Seasonality & Energy Portfolio Reduction Loan yield increased 21 basis points Total Loans ($ in billions) -Loan Yields 49.5 49.2 48.9 48.4 49.1 47.9 48.3 3.57 3.38 3.31 3.33 3.36 1Q16 2Q16 3Q16 4Q16 1Q17 Average Balances 4Q16 1Q17 Period-end Average loans decreased $902MM Mortgage Banker Finance $289MM Energy +$144MM National Dealer Services Loan yield +21 bps + 20 bps due to increase in rates +4Q16 lease residual value adjustment Period-end commitments $51.3B ■ Line utilization¹ remained stable at 51% Loan pipeline increased significantly ■ Period-end commitments to commit up 44% to $1.2B 1Q17 compared to 4Q16 1Utilization of commercial commitments as a percentage of total commercial commitments at period-end Seasonal Decline in Noninterest-bearing Deposits Deposit cost unchanged Total Deposits ($ in billions) Deposit Rates1 Comerica Bank 5 59.6 59.0 58.9 58.1 57.8 56.7 56.5 Average deposits decreased 0.14 0.14 0.14 0.14 0.14 1Q16 2Q16 3Q16 4Q16 1Q17 Average Balances 4Q16 1917 Period-end 1Q17 compared to 4Q16 1Interest costs on interest-bearing deposits 2At 3/31/17 - $920MM Corporate Banking -$280MM Technology & Life Sciences - $155MM Small Business -$143MM Mortgage Banker Finance - $121MM Energy Noninterest-bearing declined $1.6B Loan to Deposit Ratio² of 82% Comerica Bank 6#4Securities Portfolio Stable Average portfolio yield increased 1 basis point Securities Portfolio ($ in billions) Treasury Securities & Other Mortgage-backed Securities (MBS) -Securities Yields 12.4 12.3 12.4 12.3 12.2 12.4 12.3 Duration of 3.5 years¹ 9.4 9.3 9.4 9.4 9.3 9.5 9.4 2.05 2.03 2.01 2.01 2.02 1Q16 2Q16 3Q16 4Q16 Average Balances 1Q17 4Q16 1Q17 Period-end ■ Extends to 4.0 years under a 200 bps instantaneous rate increase1 Net unrealized pre-tax loss of $43MM² Net unamortized premium of $26MM³ GNMA-51% of MBS portfolio 3/31/17 Estimated as of 3/31/17. Excludes auction rate securities (ARS). • 2Net unrealized pre-tax gain on the available-for-sale (AFS) Comerica Bank portfolio Net unamortized premium on the MBS portfolio Net Interest Income Increased $15MM NIM increased 21 basis points with benefit from rising rates Net Interest Income ($ in millions) --NIM $455MM 4Q16 470 +9MM Loan impacts 455 450 + $23MM increase in rates 447 445 + $2MM 4Q16 lease residual value adjustment 2.65% +0.17 $8MM 2 less days $ 8MM lower balances + 3MM Fed balance impact +0.03 + $4MM increase in rates - $ 1MM lower balances + 2MM Lower wholesale funding cost +0.01 2.86 +$5MM lower balances 2.81 2.74 $3MM increase in rates 2.66 2.65 +1MM Lower deposit costs $470MM 1Q17 2.86% 1Q16 1Q17 compared to 4Q16 2Q16 3Q16 4Q16 1Q17 Ⓡ 7 Comerica Bank Ⓡ 8#5Credit Quality Strong Energy business line reserve allocation¹ ~7% of Energy loans Allowance for Credit Losses ($ in millions) Allowance for Loan Losses as a % of Total Loans Energy Credit Metrics $ in millions Loans Criticized NAL NCO³ 770 772 772 771 754 E&P $1,360 $649 $234 $9 Midstream 327 38 7 1.47 1.45 1.48 1.49 1.47 Services 268 184 25 4 Total Energy $1,955 Q/Q change $871 $266 $13 (295) (283) (62) (2) 1Q16 2Q16 3Q16 Criticized Loans² ($ in millions) NALS Criticized as a % of Total Loans 4Q16 1Q17 Portfolio Credit Metrics $ in millions Ex-Energy Total Total loans $46,348 $48,303 % of total 96% 100% Criticized² 1,765 2,636 3,928 3,551 Ratio 3.8% 5.5% 3,261 8.0 7.0 6.6 681 605 631 582 521 1Q16 2Q16 3Q16 4Q16 1Q17 00000 2,856 Q/Q change 63 2,636 (220) Nonaccrual 255 521 5.8 5.5 Ratio 0.6% 1.1% Q/Q change 1 (61) Net charge-offs³ 20 33 Ratio 0.18% 0.28% 3/31/17 'Bank's entire allowance is available to cover any & all losses. Allocation of allowance for energy loans reflects our robust allowance methodology which contains quantitative and qualitative components 2Criticized loans are consistent with regulatory defined Special Mention, Substandard, & Doubtful categories ³Net credit-related charge-offs Comerica Bank 9 Noninterest Income Increased $4MM, or 2% Increased $27MM, or 11%, from 1Q16 Noninterest Income ($ in millions) 272 268 271 267 24 244 1Q16 1Q17 compared to 4Q16 2Q16 3Q16 4Q16 1Q17 + $4MM Deposit service charges + $2MM Investment banking +$1MM Fiduciary - $2MM Card fees +$2MM 4Q16 Net securities loss (related to Visa derivative) +$2MM Deferred comp (offset in noninterest expense) - $2MM Bank-owned life insurance - $2MM Principal investing & warrants Comerica Bank 10#6Noninterest Expenses Declined $4MM, or 1% Seasonality in comp offset by lower restructuring costs & broad-based expense reduction Noninterest Expenses 518 ($ in millions) Restructuring 493 53 20 458 461 457 20 11 + $14MM Salaries & benefits + Annual stock comp + Higher payroll taxes + $4MM 4Q16 Gain on early termination of certain leased assets - - - $ 9MM Restructuring charges - $3MM Litigation-related expenses $2MM Outside processing $2MM Occupancy 1Q16 2Q16 3Q16 1Q17 compared to 4Q16 Estimated as of 4/18/17 4Q16 1Q17 - $ 2MM Equipment - $2MM FDIC insurance $2MM Advertising GEAR Up savings continue to be on track¹ Comerica Bank Active Capital Management Continued to return excess capital to shareholders 2016 CCAR Capital Plan (3Q16-2017) Increasing Shareholder Payout Equity repurchases up to $440 million ($ in millions) $301MM repurchased (5.4MM shares)1 through 1Q17 ■Equity Repurchases Dividends 147 ⚫1Q17 $105MM repurchased (1.5MM shares) 137 139 Additional Share Activity in 1Q17 103 42 40 40 79 ■ 4.1MM from employee stock activity & warrants exercised 38 • $24MM tax benefit from employee stock transactions 37 97 99 105 105 ■ 2.9MM increase in average diluted shares due to 65 42 employee stock activity & higher stock price 180 million diluted shares at 3/31/17 1Q17 Share Count Up with Stock Price 1Q16 2Q16 3Q16 4Q16 1Q17 Dividends Per Share Growth (in millions) ■Common Shares Outstanding (PE) Average Diluted Shares 0.89 0.92 0.83 0.79 192 187 185 0.68 181 177 180 188 0.55 182 179 176 175 177 11 T 2012 2013 2014 2015 2016 2012 2013 2014 2015 2016 1Q17 1Q17 Annualized 3/31/17 1Shares repurchased under equity repurchase program through 3/31/17 Comerica Bank 12#7Interest Rate Sensitivity Significant upside from rate increase Additional Annual Net Interest Income¹ Estimate over 12 months following interest rate movement Deposit Beta Assumptions Rate Increase 0% Next +25 bps Mar '17 +25 bps Dec '16 ~$85MM +25 bps 25% ~$70MM 0-75% ~$40MM to ~$85MM Why is Comerica Asset Sensitive? 90% of loans are floating rate & reprice quickly Fixed rate securities < 20% of earning assets Non-maturity noninterest bearing deposits are 54% of deposit base 1.70% 1.45% 1.20% 0.95% 0.70% Fed Funds Futures² Jul-19 Oct-19 Jan-20 Outcome may vary due to a number of variables including balance sheet movements (loan & deposit levels as well as incremental funding needs) Apr-17 Jul-17 Oct-17 Jan-18 Apr-18 Jul-18 Oct-18 Jan-19 Apr-19 3/31/17 Outlook as of 4/18/17 Based on immediate parallel shock. Assumes 25 bps increase in Fed Funds, Prime & LIBOR. Calculations derived from sensitivity results shown on slide 19 ⚫2Source: Bloomberg as of 4/17/17 Comerica Bank Ⓡ 13 GEAR Up: Growth in Efficiency And Revenue On Track to Reach FY18 Target: ~$270MM additional annual pre-tax income¹ GEAR Up: 2017 Focus Continue to gain efficiencies even as rates rise & economy improves Revenue enhancements Standardize training Launch new Customer Relationship Management platform Roll-out share of wallet analysis Rationalize & modernize IT applications Expand operational process automation Optimize infrastructure platforms End-to-End Credit Workforce Reduction (# of employees - full time equivalent) Revised Retirement Plans³ 8,880 7,960 8,044 -8,000 58 ($ in millions) 16 (17) 2015 2016 1Q17 Proj 2017 2015 2016 Proj 2017 Banking Centers² Real Estate (sq. ft. in millions) 476 457 438 5.18 4.96 -4.70 Simplify governance process Introduce new technology to support digital approach 2015 2016 Proj 2017 2015 2016 Pool back office resources across all markets Proj 2017 Relative to when we began the initiative in June 2016 ⚫2Count of total U.S. banking centers Includes Pension, Postretirement & Retirement Account Plan costs Estimates & outlook as of 4/18/17 Comerica Bank Ⓡ 14#8Management Outlook FY17 compared to FY16 Assuming continuation of current economic & low rate environment GEAR Up initiative incorporated into this Outlook ~$50MM+ contribution from March rate rise for remainder of 2017 (assuming 25% deposit beta)1 Benefit from loan growth & wholesale debt maturities Average loans 1-2% increase, including reduction in Mortgage Banker & Energy loans Higher • 3-4% increase in remainder of portfolio • -$85MM contribution from December rate rise (assuming no deposit beta)1 Net interest income Higher • Provision Lower Noninterest income Higher Noninterest Lower expenses Income Taxes Higher • Provision of 20-30 bps (net charge-offs remainder of year in line with 1Q17) Continued solid performance of the overall portfolio Increase 4-6% • Execution of GEAR Up opportunities of ~$30MM Modest growth in treasury management, card, fiduciary & brokerage services Restructuring expenses of about $25MM-$50MM (2016 $93MM) Remaining noninterest expenses decrease 1-2% (excluding restructuring charges) . • GEAR Up savings: additional $125MM relative to 2016 savings (2016>$25MM) Increased outside processing in line with growing revenue, continued increases in technology costs & typical inflationary pressures No repeat of gain on leveraged lease terminations (2016 $13MM) Decrease 4-5% including restructuring charges ~31% of pre-tax income (33% for each remaining quarter assuming no further tax benefit from employee stock transactions) Outlook as of 4/18/17 1Estimated based on simulation modeling analysis. Refer to page F-33 of Comerica's 2016 Annual Report for further information. Comerica Bank Ⓡ com Appendix mitment Comerica Bank 15#9Loans by Business and Market By Line of Business 1Q17 4Q16 1Q16 By Market 1Q17 4Q16 1Q16 Middle Market Michigan $12.7 $12.5 $12.8 General $12.4 $12.4 $12.8 Energy 2.1 2.4 3.1 California 17.5 17.7 17.3 National Dealer Services 6.8 6.6 6.2 Texas 10.1 10.4 10.8 Entertainment 0.7 0.7 0.7 Other Markets1 7.5 8.3 7.6 Tech. & Life Sciences 3.2 3.2 3.3 Environmental Services 0.9 0.8 0.9 TOTAL $47.9 $48.9 $48.4 Total Middle Market $26.0 $26.2 $27.0 Corporate Banking US Banking 2.5 2.4 2.4 International 1.5 1.6 1.7 Mortgage Banker Finance 1.5 2.4 1.7 Commercial Real Estate 5.3 5.4 4.8 BUSINESS BANK $36.8 $37.9 $37.6 Small Business 3.8 3.9 3.9 Retail Banking 2.1 2.0 1.9 RETAIL BANK Private Banking WEALTH MANAGEMENT TOTAL $5.9 $5.9 $5.9 Middle Market: Serving companies with revenues generally between $20-$500MM Corporate Banking: Serving companies (and their U.S. based subsidiaries) with revenues generally over $500MM Small Business: Serving companies with revenues generally under $20MM 5.3 5.1 5.0 $5.3 $5.1 $5.0 $47.9 $48.9 $48.4 Average $ in billions Totals shown above may not foot due to rounding 1Other Markets includes Florida, Arizona, the International Finance Division and businesses that have a significant presence outside of the three primary geographic markets Deposits by Business and Market Comerica Bank Ⓡ 17 By Line of Business 1Q17 4Q16 1Q16 By Market 1Q17 4Q16 1Q16 Middle Market Michigan $22.2 $22.0 $21.7 General $15.5 $15.6 $14.9 California 17.2 18.4 16.7 Energy 1.0 1.1 0.6 National Dealer Services 0.3 0.3 0.3 Texas 10.1 10.4 10.4 Entertainment 0.1 0.2 0.2 Other Markets1 7.9 8.5 7.7 Tech. & Life Sciences 5.7 6.0 6.2 Environmental Services 0.1 0.1 0.1 Finance/ Other2 0.4 0.4 0.3 Total Middle Market $22.8 $23.4 $22.2 TOTAL $57.8 $59.6 $56.7 Corporate Banking US Banking $1.8 $2.5 $2.2 International 2.2 2.5 2.4 Mortgage Banker Finance 0.7 0.8 0.6 Commercial Real Estate 2.1 2.1 1.7 BUSINESS BANK $29.6 $31.2 $29.1 Small Business 3.2 3.4 3.1 Retail Banking 20.6 20.6 20.0 RETAIL BANK $23.8 $24.0 $23.1 Private Banking 4.0 4.1 4.2 Middle Market: Serving companies with revenues generally between $20-$500MM Corporate Banking: Serving companies (and their U.S. based subsidiaries) with revenues generally over $500MM Small Business: Serving companies with revenues generally under $20MM WEALTH MANAGEMENT $4.0 $4.1 $4.2 Finance/ Other2 0.4 0.4 0.3 TOTAL $57.8 $59.6 $56.7 Average $ in billions Totals shown above may not foot due to rounding 1Other Markets includes Florida, Arizona, the International Finance Division and businesses that have a significant presence outside of the three primary geographic markets ⚫ 2Finance/ Other includes items not directly associated with the geographic markets or the three major business segments Comerica Bank Ⓡ 18#10Interest Rate Sensitivity Remain well positioned for rising rates Standard Model Assumptions Interest Rates 200 bps gradual, non-parallel rise Modest increase Loan Balances Deposit Balances Deposit Pricing (Beta) Securities Portfolio Loan Spreads MBS Prepayments Hedging (Swaps) Moderate decrease Historical price movements with short-term rates Held flat with prepayment reinvestment Held at current levels Third-party projections and historical experience No additions modeled Estimated Net Interest Income: Annual (12 month) Sensitivities Based on Various Assumptions Additional Scenarios are Relative to 1Q17 Standard Model ($ in millions) -90 ~240 -200 ~185 -185 150 -310 Up 100 Addl. $3B Addl. Addl. $1B Standard Addl. bps Deposit 20% Deposit Model -3% Loan Decline Increase Decline in Beta Up 300 bps Growth 3/31/17 For methodology see the Company's Form 10-K, as filed with the SEC. Estimates are based on simulation modeling analysis. Comerica Bank Ⓡ 19 Commercial Real Estate Line of Business Long history of working with well established, proven developers CRE by Property Type¹ ($ in millions; Period-end) CRE by Market¹ ($ in millions; Period-end, based on location of property) Office 7% Single Family Multi use Commercial 12% 7% 4% Land Carry 4% Other Austin 4% 7% Other 24% Houston 8% Retail 11% Other Total $4,583 6% Dallas 12% Total $4,583 Multifamily 49% Texas 31% California 45% CRE Period-end² ($ in billions) Criticized Loans³ ($ in millions) Criticized as a % of Total Loans Net Charge-offs (Recoveries) ($ in millions) 5.5 5.1 5.4 5.3 5.3 (11) (1) (2)0 99 84 73 46 49 1.9 1.5 1.4 0.9 0.9 1Q16 2Q16 3Q16 4Q16 1Q17 1Q16 2Q16 3Q16 4Q16 1Q17 1Q16 2Q16 3Q16 4Q16 1Q17 3/31/17 Excludes CRE line of business loans not secured by real estate ⚫2Includes CRE line of business loans not secured by real estate ⚫3Criticized loans are consistent with regulatory defined Special Mention, Substandard & Doubtful categories Comerica Bank 20#11Energy Line of Business Credit Quality Continues to Improve Granular, contracting portfolio Energy Line of Business Loans Midstream 3,097 ($ in millions; Period-end) Services ■ Maintain granular portfolio: ~180 customers ■Exploration & Production 2,741 2,457 2,250 1,955 2,162 1,911 1,773 1,587 1,360 426 363 332 289 268 509 467 352 374 327 1Q16 2Q16 3Q16 4Q16 1Q17 ■Loans decreased $1.1B since 3/31/16 ☐ Spring redeterminations 12% complete¹ Borrowing bases modestly higher ■>90% of nonaccrual loans current on interest as of 3/31/17 Energy Line of Business Criticized Loans² ($ in millions) Total Commitments -Utilization Rate NALS 1,833 5,573 1,552 Reserve³ 1,473 4,945 -7% 4,605 4,385 1,155 4,151 871 00000 54% 54% 52% 50% 45% 423 346 378 328 266 1Q16 2Q16 3Q16 4Q16 1Q17 1Q16 2Q16 3Q16 4Q16 1Q17 3/31/17 1As of 4/7/17 2Criticized loans are consistent with regulatory defined Special Mention, Substandard & Doubtful categories Bank's entire allowance is available to cover any & all losses. Allocation of allowance for Energy loans reflects our robust allowance methodology which contains quantitative and qualitative components. Comerica Bank 21 Mortgage Banker Finance 50 Years experience with reputation for consistent, reliable approach Average Loans ($ in millions) Actual MBA Mortgage Origination Volumes 1,2 Provide warehouse financing: bridge from residential mortgage origination to sale to end market Extensive backroom provides collateral monitoring and customer service Focus on full banking relationships Granular portfolio with 100+ relationships Underlying mortgages are typically related to home purchases as opposed to refinances As of 1Q17: Comerica: ~77% purchase Industry: 59% purchase¹ Strong credit quality • No charge-offs since 2010 1Q12 1,483 2Q12 ,507 3Q12 1,996 4Q12 2,094 1Q13 1,737 2Q13 3Q13 815 1,605 4Q13 1,109 1Q14 886 2Q14 1,319 3Q14 1,595 4Q14 1,397 1Q15 1,399 2Q15 2,089 3Q15 2,136 4Q15 1,742 1Q16 1,674 2Q16 2,145 3Q16 2,544 4Q16 2,352 1Q17 1,450 MBA Mortgage Originations Forecast¹ ($ in billions) ■Purchase Refinance 450 437 445 443 361 352 345 355 1917 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18 3/31/17 1Source: Mortgage Bankers Association (MBA) Mortgage Finance Forecast as of 3/15/17; 1Q17 Estimated 2$ in billions Comerica Bank Ⓡ 22 900 800 700 600 500 400 300 200#12National Dealer Services 65+ years of floor plan lending Franchise Distribution (Based on period-end loan outstandings) Toyota/ Lexus 16% Honda/Acura 15% Ford 9% Other¹ 10% Total $6.9B GM ៩៖ 9% Fiat/ Chrysler ☐ ■ Top tier strategy Focus on "Mega Dealer" (five or more dealerships in group) Strong credit quality Robust monitoring of company inventory and performance Other Asian 10% ■Floor Plan 11% Mercedes 3% Other European 10% 3333 Nissan/Infiniti 7% 3.8 Geographic Dispersion California 64% Texas 6% Michigan 19% Other 11% Average Loans ($ in billions) 1Q12 1.9 - 2Q12 2.3 3Q12 2.3 4Q12 2.5 1Q13 2.8 2Q13 3.1 5.1 3Q13 2.9 4.9 4Q13 3.2 1Q14 3.2 5.3 2Q14 3.5 5.7 3Q14 3.2 5.5 4Q14 3.4 5.7 1Q15 3.5 5.9 2Q15 3.6 6.0 3Q15 3.5 6.0 4Q15 3.7 6.2 1Q16 3.8 6.2 2Q16 4.0 6.5 3Q16 3.8 6.3 4Q16 | 4.0 6.6 1Q17 4.1 16.8 3/31/17 1Other includes obligations where a primary franchise is indeterminable (rental car and leasing companies, heavy truck, recreational vehicles, and non-floor plan loans) 3/31/17 Technology and Life Sciences Comerica Bank 23 20+ Years experience provides competitive advantage Technology & Life Sciences Avg. Loans Strong relationships with top-tier investors Granular portfolio: ~800 customers (including ~190 customers in Equity Fund Services) Manage concentration to numerous verticals to ensure widely diversified portfolio ■ Closely monitor cash balances and maintain robust backroom operation 2.5 2.0 ($ in billions) ■Equity Fund Services 3.2 3.2 3.1 1.4 1.6 1.1 0.4 2013 0.6 2014 2015 2016 1Q17 Customer Segment Overview (based on period-end loans) 15 offices throughout US & Canada Recent growth driven by Equity Fund Services • Commercial banking services for venture capital & private equity firms Equity Fund Services -50% • Bridge financing for capital calls Strong credit profile Late Stage -12% Total $3.1B Leveraged Finance -6% Early Stage -12% Growth -20% Comerica Bank Ⓡ 24#13Large Banks Peer Banks Holding Company Debt Rating Senior Unsecured/Long-Term Issuer Rating Moody's S&P Fitch BB&T A2 A- A+ Cullen Frost A3 A- -- M&T Bank A3 A- A Comerica BOK Financial Corporation Huntington Fifth Third A3 BBB+ A A3 BBB+ A Baa1 BBB A- Baa1 BBB+ A KeyCorp Baa1 BBB+ A- SunTrust Baa1 BBB+ A- Regions Financial Baa2 BBB BBB First Horizon National Corp Baa3 BBB- BBB- Zions Bancorporation Baa3 BBB- BBB- U.S. Bancorp Wells Fargo & Company PNC Financial Services Group JP Morgan ༥ ???』 A+ AA A AA- A- A+ A- A+ Baa1 BBB+ A Bank of America As of 4/13/17 Source: SNL Financial Debt Ratings are not a recommendation to buy, sell, or hold securities Comerica Bank Ⓡ commitment Comerica Bank 25