<div id="readability-page-1"><p>On December 22, 2025, HoldCo Asset Management, LP announced that it released a presentation to the Board of Directors of Comerica Inc. reiterating its recommendation for shareholders to vote no on the proposed merger of the Company with Fifth Third Bancorp. HoldCo stated that the Company's revised proxy disclosures confirm its concerns that the sale process was rushed and designed to neutralize a potential proxy contest, benefiting the CEO's compensation rather than maximizing shareholder value. In addition, HoldCo noted that while the proxy advisory firm ISS recommended the merger, it acknowledged HoldCo's role in prompting the sale process and the need for additional disclosures.</p></div>

<p>HoldCo Asset Management released a presentation to Comerica's Board, urging shareholders to vote against the merger with Fifth Third Bancorp. HoldCo criticized the rushed sale process, suggesting it favored CEO compensation over shareholder value. Despite ISS's recommendation for the merger, it recognized HoldCo's influence in the sale process and the need for more disclosures.</p>

Holdco Asset Management Releases Presentation to The Board of Directors of Comerica