&RPHULFD,QFRUSRUDWHG 7KLUG4XDUWHU )LQDQFLDO5HYLHZ 2FWREHU 6DIH+DUERU6WDWHPHQW 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 are changes in general economic, political or industry conditions; changes in monetary and fiscal policies; operational, systems or infrastructure failures; reliance on other companies to provide certain key components of business infrastructure; cybersecurity risks; 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 requirements; declines or other changes in the businesses or industries of Comerica's customers; unfavorable developments concerning credit quality; changes in regulation or oversight; heightened legislative and regulatory focus on cybersecurity and data privacy; fluctuations in interest rates and their impact on deposit pricing; transitions away from LIBOR towards new interest rate benchmarks; reductions in Comerica's credit rating; 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 interdependence of financial service companies; the implementation of Comerica's strategies and business initiatives; changes in customer behavior; management's ability to maintain and expand customer relationships; the effectiveness of methods of reducing risk exposures; the effects of catastrophic events including, but not limited to, hurricanes, tornadoes, earthquakes, fires, droughts and floods; the impacts of future legislative, administrative or judicial changes to tax regulations; any future strategic acquisitions or divestitures; management's ability to retain key officers and employees; the impact of legal and regulatory proceedings or determinations; losses due to fraud; the effects of terrorist activities and other hostilities; changes in accounting standards; the critical nature of Comerica's accounting policies; controls and procedures failures; 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 12 of Comerica's Annual Report on Form 10-K for the year ended December 31, 2018. 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

7KLUG4XDUWHU5HVXOWV Fee income growth & expense discipline kept efficiency ratio low at 52% &KDQJH)URP .H\4R4 3HUIRUPDQFH'ULYHUV PLOOLRQVH[FHSWSHUVKDUHGDWD 4 4 4 4 4 ƒ /RDQVVWDEOHUHIOHFWV VHDVRQDOLW\ $YHUDJHORDQV $50,887 $50,963 $48,584 $(76) $2,303 ƒ 'HSRVLWVLQFUHDVHG $YHUDJHGHSRVLWV 55,716 54,995 56,093 721 (377) ƒ 1HWLQWHUHVWLQFRPHLPSDFWHGE\ ORZHULQWHUHVWUDWHV 1HWLQWHUHVWLQFRPH $586 $603 $599 $(17) $(13) 3URYLVLRQIRUFUHGLWORVVHV 35 44 - (9) 35 ƒ 2YHUDOOFUHGLWPHWULFVUHPDLQHG VROLG3URYLVLRQUHIOHFWVKLJKHU 1RQLQWHUHVWLQFRPH 256 250 234 6 22 (QHUJ\UHVHUYHV  1RQLQWHUHVWH[SHQVHV 435 424 452 11 (17) ƒ %URDGEDVHGQRQLQWHUHVW LQFRPH 3URYLVLRQIRULQFRPHWD[ 80 87 63 (7) 17 JURZWK 1HWLQFRPH 292 298 318 (6) (26) ƒ ([SHQVHVZHOOFRQWUROOHGUHIOHFW (DUQLQJVSHUVKDUH $1.96 $1.94 $1.86 $0.02 $0.10 KLJKHUFRPSWHFK RFFXSDQF\ ƒ 7D[LQFOXGHGGLVFUHWHEHQHILWVRI $YHUDJHGLOXWHGVKDUHV 148.1 153.2 170.1 (5.1) (22.0) 00 52( 15.97% 16.41% 16.15% ƒ 5HSXUFKDVHG00VKDUHV 52$ 1.61 1.68 1.77 00UHWXUQHGWRVKDUHKROGHUV (IILFLHQF\5DWLR 51.54 49.65 52.93 EX\EDFN GLYLGHQG 3Q19 compared to 2Q19 Ⴠ 13Q18 included $20MM loss related to repositioning of securities portfolio Ɣ 23Q18 includes $12MM in restructuring chargesჀ 3Diluted earnings per common share Ⴠ 4Return on average common shareholders’ equity Ⴠ 5Return on average assets Ⴠ 6Noninterest expenses as a percentage of net interest income and noninterest income excluding net gains (losses) from securities and a derivative contract tied to the conversion rate of Visa Class B shares. Ⴠ 73Q19 repurchases under the share repurchase program 3 /RDQVVWDEOH Reflects seasonality 7RWDO/RDQV $YHUDJHORDQVVWDEOH LQELOOLRQV 000RUWJDJH%DQNHU Loan Yields 00&RPPHUFLDO5HDO(VWDWH 51.8 51.5  001DWLRQDO'HDOHU6HUYLFHV 51.0 50.9  00*HQHUDO0LGGOH0DUNHW 49.7 48.6 48.8 /RDQ\LHOGV  /RZHUUDWHV /RDQIHHV 4OHDVHUHVLGXDODGMXVWPHQW 5.07 4.90 5.00 4.74 4.83 /RDQ3RUWIROLR LQELOOLRQV4 3HULRGHQG Fixed Rate1 17% Prime- 30-Day based Total LIBOR 15% $51.5 62% 60-Day+ 3Q18 4Q18 1Q19 2Q19 3Q19 2Q19 3Q19 LIBOR $YHUDJH%DODQFHV 3HULRGHQG 6% 3Q19 compared to 2Q19 Ⴠ 1Fixed rate loans include $3.8B receive fixed / pay floating (30-day LIBOR) interest rate swaps 4

'HSRVLWV,QFUHDVHG Average deposits increased 1% 7RWDO'HSRVLWV $YHUDJHGHSRVLWVLQFUHDVHG00 LQELOOLRQV 00 00,$ LQWHUHVWFKHFNLQJ Deposit Rates1 00FXVWRPHU&'V  00RWKHUWLPHGHSRVLWV 56.8 56.1 55.7 55.7 55.5  00QRQLQWHUHVWEHDULQJ 54.0 55.0 /RDQWRGHSRVLWUDWLR  %HQHILFLDO'HSRVLW0L[ LQELOOLRQV4$YHUDJH • &RPPHUFLDORIQRQLQWHUHVWEHDULQJ • 5HWDLORILQWHUHVWEHDULQJ Retail Commercial 0.94 0.99 0.78 Noninterest- Noninterest- 0.62 bearing bearing 0.51 8% 39% Total Retail $55.7 Commercial Interest- Interest- bearing bearing 3Q18 4Q18 1Q19 2Q19 3Q19 2Q19 3Q19 29% 24% $YHUDJH%DODQFHV 3HULRGHQG 3Q19 compared to 2Q19 Ⴠ 1Interest costs on interest-bearing deposits Ⴠ 2At 9/30/19 5 6HFXULWLHV3RUWIROLR Yields stable 6HFXULWLHV3RUWIROLR LQELOOLRQV Treasury Securities & Other Mortgage-backed Securities (MBS) Securities Yields 'XUDWLRQRI\HDUV ƒ ([WHQGVWR \HDUVXQGHUDESV 12.1 12.2 12.3 12.4 11.8 11.8 12.0 LQVWDQWDQHRXVUDWHLQFUHDVH 1HWXQUHDOL]HGSUHWD[JDLQRI00 1HWXQDPRUWL]HGSUHPLXPRI00 9.5 9.6 9.1 9.1 9.2 9.3 9.4 <LHOGV %HQHILWIURPIXOOTXDUWHUHIIHFWRI KLJKHU\LHOGLQJ4UHLQYHVWPHQWV  4SD\GRZQRIf00UHLQYHVWHGDW 2.39 2.45 2.45 2.35 \LHOGVORZHUWKDQSRUWIROLRDYHUDJH 2.17 3Q18 4Q18 1Q19 2Q19 3Q19 2Q19 3Q19 $YHUDJH%DODQFHV 3HULRGHQG 9/30/19 Ɣ 1Estimated as of 9/30/19 Ɣ 2Net unrealized pre-tax gain/loss on the available-for-sale (AFS) portfolio Ɣ 3Net unamortized premium on the MBS portfolio 6

1HW,QWHUHVW,QFRPH Impacted by lower interest rates 1HW,QWHUHVW,QFRPH LQPLOOLRQV $603MM 2Q19 3.67% NIM 614 - 16MM Loans: - 0.13 599 606 603 586 - 26MM Lower rates -0.15 + 6MM 1 additional day + 2MM 2Q lease adj. +0.01 + 2MM Loan fees +0.01 -0- Fed Balances: -0.02 + 2MM Higher balances -0.01 - 2MM Lower yield -0.01 3.79 3.70 3.67 - 6MM Deposits: - 0.03 3.60 3.52 - 4MM Higher rate -0.02 - 2MM Higher balances -0.01 + 5MM Wholesale funding: + 0.03 Lower rate $586MM 3Q19 3.52% 3Q18 4Q18 1Q19 2Q19 3Q19 3Q19 compared to 2Q19 7 &UHGLW4XDOLW\5HPDLQV6ROLG Provision reflects additional decline in value of select energy assets $OORZDQFHIRU&UHGLW/RVVHV  LQPLOOLRQV ƒ 00LQQHWFKDUJHRIIV RUESV Allowance for Loan Losses as a % of Total Loans ƒ 1RQDFFUXDOORDQVESVRIWRWDOORDQV 697 701 677 688 681 ƒ $///13/FRYHUDJH[ 1.35 1.34 ƒ 3URYLVLRQGHFUHDVHG00RYHU4 1.29 1.27 1.27 • 6HOHFWHQHUJ\ORDQVLPSDFWHGE\ FRQWLQXHGGHFOLQHLQYDOXDWLRQV • 6WURQJFUHGLWTXDOLW\LQUHPDLQGHURI 3Q18 4Q18 1Q19 2Q19 3Q19 SRUWIROLR  &ULWLFL]HG/RDQV $ in millions Energy Ex-Energy Total LQPLOOLRQV Total PE loans $2,422 $49,069 $51,491 NALsNAL CriticizedCiti i d as a % off TotalTtl LLoans % of total 5% 95% 100% 1,948 1,861 1,806 1 1,670 1,548 Criticized 220 1,641 1,861 Ratio 9.08% 3.35% 3.61% Nonaccrual 74 146 220 3.6 3.8 3.6 3.4 3.1 Ratio 3.04% 0.30% 0.43% 2 230 221 191 224 220 Net charge-offs 34 8 42 3Q18 4Q18 1Q19 2Q19 3Q19 Ratio N/M 0.06% 0.33% 9/30/19 Ɣ 1Criticized loans are consistent with regulatory defined Special Mention, Substandard, & Doubtful categories Ɣ 2Net credit-related charge-offs; ratio shown as a % of average loans Ɣ N/M = Not meaningful 8

1RQLQWHUHVW,QFRPH,QFUHDVHG Broad-based growth 1RQLQWHUHVW,QFRPH 1RQLQWHUHVWLQFRPHLQFUHDVHG00 LQPLOOLRQV Securities losses due to repositioning 00&DUG 00&RPPHUFLDOOHQGLQJV\QGLFDWLRQIHHV 00)LGXFLDU\LQFRPH 254 256 250 246 250  00'HULYDWLYHVRWKHU 20 8 00'HIHUUHG&RPSRWKHU 238 234 RIIVHWLQQRQLQWHUHVWH[SHQVH *URZLQJ&DUG)HHV LQPLOOLRQV 67 65 64 63 61 3Q18 4Q18 1Q19 2Q19 3Q19 3Q18 4Q18 1Q19 2Q19 3Q19 3Q19 compared to 2Q19 Ɣ 1See Reconciliation of Adjusted Net Income slide 9 1RQLQWHUHVW([SHQVH Efficiency ratio1 remained low at under 52% with disciplined cost management 1RQLQWHUHVW([SHQVH LQPLOOLRQV Restructuring Efficiency Ratio 1RQLQWHUHVWH[SHQVHLQFUHDVHG 452 448 433 435 12 14 424 006DODULHV EHQHILWV 440 434  'HIHUUHG&RPSRIIVHWLQQRQLQWHUHVWLQFRPH 6WDIILQVXUDQFH 2QHDGGLWLRQDOGD\ 006RIWZDUH 002FFXSDQF\ 52.9% 51.9% 50.8% 51.5% 49.7% 3Q18 4Q18 1Q19 2Q19 3Q19 3Q19 compared to 2Q19 Ⴠ 1Noninterest expenses as a percentage of net interest income & noninterest income excluding net gains (losses) from securities & a derivative contract tied to the conversion rate of Visa Class B shares Ɣ 2See Reconciliation of Adjusted Net Income slide 10

$FWLYH&DSLWDO0DQDJHPHQW Returned excess capital at a fast pace 5HGXFWLRQLQ6KDUHV<< ,QPLOOLRQVDYHUDJHGLOXWHGVKDUHV 5HWXUQHG00WRVKDUHKROGHUV ƒ 00VKDUHVUHSXUFKDVHG00 170 164 160 153 148 &RQWLQXHWRDFWLYHO\PDQDJHFDSLWDO ƒ 7DUJHWPDLQWDLQf&(7 3Q18 4Q18 1Q19 2Q19 3Q19 &DSLWDO3RVLWLRQ5HPDLQV6ROLG&(7 $WWUDFWLYH'LYLGHQG<LHOG ,QSHUFHQWDJHSRLQWV ,QSHUFHQWDJHSRLQWV 11.68 4.34 4.28 11.14 10.78 4.19 4.03 10.18 9.92 3.65 3.52 3.49 3.37 3.35 3.13 2.67 2.60 RF STI FHN BBT CFR KEY MTB 3 FITB CMA ZION 3Q18 4Q18 1Q19 2Q19 3Q19 BOKF HBAN 9/30/19 Ⴠ 1Shares repurchased under share repurchase program Ⴠ 2Outlook as of 10/16/19 Ⴠ 3Estimated Ⴠ 4Source: S&P Global Market Intelligence 11 ,QWHUHVW5DWH(QYLURQPHQW Focus on continued careful management of deposit costs (VWLPDWHf00LPSDFWIURPUDWHVRQ (VWLPDWHG1HW,QWHUHVW,QFRPH 4QHWLQWHUHVWLQFRPHDVVXPLQJ ,Q'LIIHUHQW5DWH6FHQDULRV $QQXDOPRQWK6HQVLWLYLWLHV ƒ )HGIXQGVUDWHFXWRIESVRQ %DVHGRQ6WDQGDUG0RGHO:LWK  ƒ %HQHILWRIVZDSV00 'HSRVLW%HWD$VVXPSWLRQV$OWHUHG LQPLOOLRQV ƒ ,QWHUHVWEHDULQJGHSRVLWVFRVWVGHFUHDVH ESV ~70 +HGJLQJ$FWLYLW\ ƒ %DGGHGLQ6HSWHPEHU ƒ %WRWDOKHGJHVDVRI ~65 • \HDUDYHUDJHWHUP ~80 • DYHUDJHIL[HGUDWH ~95 • 3D\GD\/,%25UHFHLYHIL[HG 25 bps shock 25 bps shock 25 bps shock & Up 100 bps & 10% deposit & 25% deposit 50% deposit (50 bps on Beta Beta Beta average) 9/30/19 Ɣ Outlook as of 10/16/19 Ⴠ 1Outcomes may differ due to many variables, including pace of LIBOR change, balance sheet movements (loan, deposit & wholesale funding levels), competition for deposits Ⴠ YTD 9/30/19 Ⴠ 3For methodology see the Company’s Form 10-Q, as filed with the SEC. Estimates are based on simulation modeling analysis 12

0DQDJHPHQW2XWORRNIRU4 Focus on driving profitable growth & enhancing long-term shareholder value FY19 v. FY18 4Q19 vs 3Q19 Stable Average + ~4% • Growth in several lines of business, including seasonal increase in National Dealer loans (formerly +3 to 4%) • Decrease in Mortgage Banker with seasonality & reduction in refi volumes Average -1 to -2% Stable deposits (formerly -2%) • Focused on attracting and retaining relationship deposits Lower Net interest -0- to -1% • Net impact from short-term rate decrease (see slide 12) income (formerly +2%) • Lower loan fees & nonaccrual recoveries from elevated 3Q levels 15 to 20 bps ~$25MM to $45MM Provision (no change) • Overall solid credit quality continues; net charge-offs to remain low Noninterest + >2% Relatively stable, excluding deferred comp which is difficult to predict income (formerly +1 to 2%) • Strong 3Q19 syndication fees & fiduciary income unlikely to repeat Modest increase 1 Noninterest Stable • Growth in outside processing & technology costs expenses (no change) • Typical seasonal & inflationary pressures Tax rate No change ~23% of pre-tax income ~10% CET1 Target Capital No change • Continue active capital management Outlook as of 10/16/19 Ⴠ 4Q19 outlook compared to 3Q19 Ⴠ 1Excluding 2018 restructuring expenses of $53MM 13 $SSHQGL[

&XUUHQW([SHFWHG&UHGLW/RVVHV6WDQGDUG&(&/ No material change to allowance for credit losses anticipated upon adoption $GRSWLQJQHZVWDQGDUG4 6KRXOGEHOHVVLPSDFWHGWKDQSHHUVGXHWR UHODWLYHO\VKRUWHUPDWXULW\RISRUWIROLR ƒ 5HTXLUHVUHVHUYHVIRUH[SHFWHGORVVHV RYHUOLIHRIORDQEDVHGRQ ƒ +LVWRULFDOSHUIRUPDQFH RI (VW&KDQJH /RDQ7\SH ƒ &XUUHQWFRQGLWLRQV 3RUWIROLR LQ5HVHUYHV ƒ (FRQRPLFIRUHFDVWV Commercial 92 (5) - 0% ƒ ʸFKDQJHLQUHVHUYHH[SHFWHG Retail 8 60 - 80% WKHUHIRUHPLQLPDOLPSDFWWRFDSLWDOUDWLRV Total 100 (5) - 5% ƒ $FWXDOUHVXOWVGHSHQGRQHFRQRPLF FRQGLWLRQV IRUHFDVWVDWWKHWLPHRI DGRSWLRQ ƒ *HQHUDOO\VKRUWHUPDWXULWLHVRIFRPPHUFLDO ƒ $QWLFLSDWHXVLQJDWZR\HDUIRUHFDVW ORDQVUHVXOWLQGHFUHDVHWRUHVHUYHZKLOH KRUL]RQZLWKVXEVHTXHQWUHYHUVLRQWR ORQJHUPDWXULWLHVIRUUHWDLOORDQVLQFUHDVH KLVWRULFDOORVVH[SHULHQFH UHVHUYHV ƒ &RQWLQXHWRHQKDQFHSDUDOOHOUXQVZKLFK EHJDQLQ4 ƒ 5HPDLQRQWUDFNIRUVXFFHVVIXO LPSOHPHQWDWLRQ 9/30/19 Ⴠ Outlook as of 10/16/19 Ⴠ 1The ultimate impact of CECL will depend on the composition of the portfolio as well as economic conditions and forecasts at the time of adoption. Estimates based on current factors as of 9/30/19. 15 $YHUDJH/RDQVE\%XVLQHVVDQG0DUNHW %\/LQHRI%XVLQHVV 4 4 4 %\0DUNHW 4 4 4 Middle Market Michigan $12.6 $12.7 $12.4 General $12.2 $12.4 $11.7 Energy 2.5 2.5 1.8 California 18.4 18.9 18.1 National Dealer Services 7.5 7.9 7.0 Entertainment 0.7 0.8 0.7 Texas 10.8 10.7 9.7 Tech. & Life Sciences 1.3 1.3 1.4 Other Markets1 9.1 8.7 8.4 Equity Fund Services 2.5 2.6 2.6 Environmental Services 1.2 1.2 1.1 TOTAL $50.9 $51.0 $48.6 Total Middle Market $27.9 $28.7 $26.4 Corporate Banking US Banking 3.0 3.0 2.9 International 1.3 1.3 1.4 ƒ 0LGGOH0DUNHW6HUYLQJFRPSDQLHVZLWK Commercial Real Estate 5.7 5.5 5.3 UHYHQXHVJHQHUDOO\EHWZHHQ00 Mortgage Banker Finance 2.5 2.0 2.0 ƒ &RUSRUDWH%DQNLQJ6HUYLQJFRPSDQLHV Small Business 3.5 3.5 3.7 DQGWKHLU86EDVHGVXEVLGLDULHVZLWK BUSINESS BANK $43.9 $44.0 $41.6 UHYHQXHVJHQHUDOO\RYHU00 Retail Banking 2.1 2.1 2.1 ƒ 6PDOO%XVLQHVV6HUYLQJFRPSDQLHVZLWK RETAIL BANK $2.1 $2.1 $2.1 UHYHQXHVJHQHUDOO\XQGHU00 Private Banking 4.9 4.9 4.9 WEALTH MANAGEMENT $4.9 $4.9 $4.9 TOTAL $50.9 $51.0 $48.6 $ in billions Ⴠ Totals shown above may not foot due to rounding Ⴠ 1Other Markets includes Florida, Arizona, the International Finance Division and businesses that have a significant presence outside of the three primary geographic markets 16

$YHUDJH'HSRVLWVE\%XVLQHVVDQG0DUNHW %\/LQHRI%XVLQHVV 4 4 4 %\0DUNHW 4 4 4 Middle Market Michigan $20.2 $19.8 $20.7 General $13.6 $13.4 $13.4 Energy 0.4 0.4 0.5 California 16.7 16.3 16.9 National Dealer Services 0.3 0.3 0.3 Texas 8.7 8.7 8.9 Entertainment 0.1 0.1 0.1 1 Tech. & Life Sciences 4.6 4.7 5.4 Other Markets 7.8 7.8 8.5 Equity Fund Services 0.9 0.8 0.9 Finance/Other2 2.3 2.4 1.1 Environmental Services 0.2 0.2 0.1 TOTAL $55.7 $55.0 $56.1 Total Middle Market $20.1 $19.9 $20.8 Corporate Banking US Banking 1.9 1.7 2.1 International 1.6 1.6 2.0 ƒ 0LGGOH0DUNHW6HUYLQJFRPSDQLHVZLWK Commercial Real Estate 1.6 1.5 1.5 UHYHQXHVJHQHUDOO\EHWZHHQ00 Mortgage Banker Finance 0.7 0.7 0.7 Small Business 3.0 2.9 3.1 ƒ &RUSRUDWH%DQNLQJ6HUYLQJFRPSDQLHV DQGWKHLU86EDVHGVXEVLGLDULHVZLWK BUSINESS BANK $28.9 $28.3 $30.3 UHYHQXHVJHQHUDOO\RYHU00 Retail Banking 20.7 20.6 20.8 ƒ 6PDOO%XVLQHVV6HUYLQJFRPSDQLHVZLWK RETAIL BANK $20.7 $20.6 $20.8 UHYHQXHVJHQHUDOO\XQGHU00 Private Banking 3.5 3.5 3.7 WEALTH MANAGEMENT $3.8 $3.7 $4.0 Finance/Other2 2.3 2.4 1.1 TOTAL $55.7 $55.0 $56.1 $ in billions Ⴠ Totals shown above may not foot due to rounding Ⴠ 1Other Markets includes Florida, Arizona, the International Finance Division and businesses that have a significant presence outside of the three primary geographic markets Ⴠ 2Finance/Other includes items not directly associated with the geographic markets or the three major business segments 17 &RPPHUFLDO5HDO(VWDWH/LQHRI%XVLQHVV Long history of working with well established, proven developers &5(E\3URSHUW\7\SH &5(E\0DUNHW LQPLOOLRQV3HULRGHQG LQPLOOLRQV3HULRGHQGEDVHGRQORFDWLRQRISURSHUW\ Single Office Michigan Family Other 8% 5% Retail 6% 5% 10% Land Carry 4% Other Industrial/ 17% Multi use Storage Total Total California 3% 15% $4,938$4,938 $4,938 46% Texas Multifamily 32% 49% &UHGLW4XDOLW\ LQPLOOLRQV3HULRGHQG   4 4 4 ƒ !RIQHZFRPPLWPHQWVIURPH[LVWLQJ &ULWLFL]HG $64 $106 $92 FXVWRPHUV 5DWLR 1.2% 1.9% 1.6% ƒ 6XEVWDQWLDOXSIURQWHTXLW\UHTXLUHG  1RQDFFUXDO $3 $2 $2 ƒ RISRUWIROLR LVFRQVWUXFWLRQ LQFOXGHV 5DWLR 0.06% 0.04% 0.04% UREXVWPRQLWRULQJ ƒ 1RVLJQLILFDQWQHWFKDUJHRIIVVLQFH 1HWFKDUJHRIIV -0- -0- -0- 9/30/19 Ⴠ 1Excludes CRE line of business loans not secured by real estate Ⴠ 2Criticized loans are consistent with regulatory defined Special Mention, Substandard & Doubtful categories Ⴠ 3Period-end loans 18

(QHUJ\/LQHRI%XVLQHVV 30+ years industry experience 3HULRGHQG/RDQV ƒ fFXVWRPHUVIRFXVRQIXOOUHODWLRQVKLSV LQPLOOLRQV ZLWKODUJHUVRSKLVWLFDWHG( 3FRPSDQLHV Midstream Services Exploration & Production DFFHVVWRDYDULHW\RIFDSLWDOVRXUFHV 2,385 2,434 2,422 KHGJLQJ GLYHUVHJHRJUDSKLFIRRWSULQW 2,163 ƒ ([SRVXUH%XWLOL]DWLRQ ƒ /RDQJURZWKGULYHQE\UHGXFHGFDSLWDO PDUNHWDFWLYLW\DVZHOODVKLJKHUXWLOL]DWLRQ 1,832 ƒ 4FKDUJHRIIVUHIOHFWYDOXDWLRQMixed LPSDLUPHQWVRQVHOHFWHQHUJ\FUHGLWVDV18% FDSLWDOPDUNHWVUHPDLQHGVRIW 1,857 1,897 1,925 ƒ ( 32LO*DV2LO*DV 1,771  1,499 &ULWLFL]HG/RDQV LQPLOOLRQV NALsNAL 269 240 205 210 220 75 80 53 94 100 453 457 444 298 233 84 53 48 33 74 3Q18 4Q18 1Q19 2Q19 3Q19 3Q18 4Q18 1Q19 2Q19 3Q19 9/30/19 Ɣ 1Criticized loans are consistent with regulatory defined Special Mention, Substandard & Doubtful categories 19 0RUWJDJH%DQNHU)LQDQFH 50+ years experience with reputation for consistent, reliable approach $YHUDJH/RDQV ƒ 3URYLGHZDUHKRXVHILQDQFLQJEULGJHIURP LQPLOOLRQV UHVLGHQWLDOPRUWJDJHRULJLQDWLRQWRVDOHWR HQGPDUNHW 2,544 ƒ ([WHQVLYHEDFNURRPSURYLGHVFROODWHUDO 2,521 2,352 2,145 2,136 2,044 PRQLWRULQJDQGFXVWRPHUVHUYLFH 1,974 1,961 1,861 1,784 1,780 1,742 1,677 1,674 1,450 1,435 ƒ )RFXVRQIXOOEDQNLQJUHODWLRQVKLSV 1,335 ƒ *UDQXODUSRUWIROLRZLWKfUHODWLRQVKLSV ƒ 8QGHUO\LQJPRUWJDJHVDUHW\SLFDOO\UHODWHG 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 WRKRPHSXUFKDVHVDVRSSRVHGWR 0%$0RUWJDJH2ULJLQDWLRQV)RUHFDVW UHILQDQFHV LQELOOLRQV $VRI4 Purchase Refinance • &RPHULFDfSXUFKDVH 605 • ,QGXVWU\SXUFKDVH 506 483 471 361 ƒ 6WURQJFUHGLWTXDOLW\ • 1RFKDUJHRIIVVLQFH ƒ 3HULRGHQGORDQV% 3Q19 4Q19 1Q20 2Q20 3Q20 9/30/19 Ɣ 1Source: Mortgage Bankers Association (MBA) Mortgage Finance Forecast as of 9/19/19; 3Q19 estimated 20

1DWLRQDO'HDOHU6HUYLFHV 65+ years of floor plan lending )UDQFKLVH'LVWULEXWLRQ ƒ 7RSWLHUVWUDWHJ\ %DVHGRQSHULRGHQGORDQRXWVWDQGLQJV Hd/AHonda/Acura ƒ )RFXVRQn0HJD'HDOHU|ILYHRUPRUH 15% GHDOHUVKLSVLQJURXS Toyota/Lexus Ford ƒ 6WURQJFUHGLWTXDOLW\ 15% 9% ƒ 5REXVWPRQLWRULQJRIFRPSDQ\LQYHQWRU\ DQGSHUIRUPDQFH GM Total 9% Other 1 12% $7.4B Fiat/Chrysler $YHUDJH/RDQV LQELOOLRQV 10% Floor Plan Mercedes 7.9 7.8 7.5 7.4 7.4 7.3 3% 7.1 7.1 7.0 6.9 Other Asian 6.8 6.6 6.5 6.3 6.2 6.2 11% Nissan/ Infiniti 5.9 Other European 5% 11% *HRJUDSKLF'LVSHUVLRQ 4.5 4.4 4.3 4.2 4.1 4.1 4.1 4.1 4.0 4.0 4.0 3.9 3.8 3.8 3.7 3.7 California 57% Texas 7% 3.5 Michigan 24% Other 12% 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 9/30/19 Ɣ 1Other includes obligations where a primary franchise is indeterminable (rental car and leasing companies, heavy truck, recreational vehicles, and non-floor plan loans) 21 7HFKQRORJ\DQG/LIH6FLHQFHV Deep expertise & strong relationships with top-tier investors $YHUDJH/RDQV $YHUDJH'HSRVLWV LQPLOOLRQV LQPLOOLRQV 5,426 5,244 4,992 1,396 4,652 4,637 1,353 1,323 1,305 1,251 3Q18 4Q18 1Q19 2Q19 3Q19 3Q18 4Q18 1Q19 2Q19 3Q19 &XVWRPHU6HJPHQW2YHUYLHZ ƒ fFXVWRPHUV %DVHGRQSHULRGHQGORDQV ƒ 0DQDJHFRQFHQWUDWLRQWRQXPHURXV YHUWLFDOVWRHQVXUHZLGHO\GLYHUVLILHG Growth SRUWIROLR Late Stage 53% 6% ƒ &ORVHO\PRQLWRUFDVKEDODQFHV Total PDLQWDLQUREXVWEDFNURRPRSHUDWLRQ $1.2B ƒ RIILFHVWKURXJKRXW86 &DQDGD Early Stage Leveraged 18% Finance 23% 9/30/19 22

(TXLW\)XQG6HUYLFHV Deep expertise & strong relationships with top-tier investors ƒ &XVWRPL]HGFUHGLWWUHDVXU\ $YHUDJH/RDQV PDQDJHPHQW LQYHVWPHQWVROXWLRQV LQPLOOLRQV IRUYHQWXUHFDSLWDO SULYDWHHTXLW\ ILUPV 2,549 2,408 ƒ 1DWLRQDOVFRSHZLWKFXVWRPHUVLQ VWDWHV &DQDGD ƒ fFXVWRPHUV 1,782 ƒ )LUPVb$80UDQJHIURP00WR RYHU% 1,421 ƒ 'ULYHFRQQHFWLYLW\ZLWKRWKHUWHDPV 1,094 • (QHUJ\ • 0LGGOH0DUNHW • 7/6 623 • (QYLURQPHQWDO6HUYLFHV • 3ULYDWH%DQNLQJ ƒ 6WURQJFUHGLWSURILOH • 1RFKDUJHRIIV 2014 2015 2016 2017 2018 3Q19 • 1RFULWLFL]HGORDQV 9/30/19 23 +ROGLQJ&RPSDQ\'HEW5DWLQJ 6HQLRU8QVHFXUHG/RQJ7HUP,VVXHU5DWLQJ 0RRG\bV 6 3 )LWFK %% 7 $ $ $ &XOOHQ )URVW $ $  0 7%DQN $ $ $ &RPHULFD $ %%% $ %2. )LQDQFLDO&RUSRUDWLRQ $ %%% $ +XQWLQJWRQ %DD %%% $ )LIWK 7KLUG %DD %%% $ 3HHU%DQNV .H\&RUS %DD %%% $ 6XQ7UXVW %DD %%% $ 5HJLRQV)LQDQFLDO %DD %%% %%% =LRQV%DQFRUSRUDWLRQ %DD %%% %%% )LUVW+RUL]RQ1DWLRQDO&RUS %DD %%% %%% 86%DQFRUS $ $ $$ -30RUJDQ $ $ $$ %DQNRI$PHULFD $ $ $ :HOOV)DUJR &RPSDQ\ $ $ $ /DUJH%DQNV 31&)LQDQFLDO6HUYLFHV*URXS $ $ $ As of 10/10/19 Ⴠ Source: S&P Global Market Intelligence Ⴠ Debt Ratings are not a recommendation to buy, sell, or hold securities 24

5HFRQFLOLDWLRQRI$GMXVWHG1HW,QFRPH 4 4 4 3HU 3HU 3HU LQPLOOLRQVH[FHSWSHUVKDUHGDWD  6KDUH  6KDUH  6KDUH 1HWLQFRPH $292 $1.96 $298 $1.94 $318 $1.86 6HFXULWLHVUHSRVLWLRQLQJ - - - - 15 0.09 5HVWUXFWXULQJFKDUJHV - - - - 9 0.05 'LVFUHWHWD[LWHPV (5) (0.03) - - (23) (0.14) $GMXVWHGQHWLQFRPH $287 $1.93 $298 $1.94 $319 $1.86 4GLVFUHWHWD[LWHPVEHQHILWVIURPGHIHUUHGWD[DGMXVWPHQWVUHODWHGWR DQQXDOVWDWHWD[ILOLQJV 4VHFXULWLHVUHSRVLWLRQLQJORVVHVLQFXUUHGRQWKHVDOHRIf%RI WUHDVXU\VHFXULWLHVWKDWZHUHUHSODFHGE\KLJKHU\LHOGLQJWUHDVXULHV 4GLVFUHWHWD[LWHPVEHQHILWVIURPDUHYLHZRIFHUWDLQWD[ FDSLWDOL]DWLRQ UHFRYHU\SRVLWLRQV 1Based on diluted average common shares Ⴠ 2Net of tax Ⴠ Comerica believes non-GAAP measures are meaningful because they reflect adjustments commonly made by management, investors, regulators and analysts to evaluate the adequacy of equity and our performance trends. Comerica believes the adjusted financial results provide a greater understanding of ongoing operations and enhance the comparability of results with prior periods. 25