Commerzbank Annual General Meeting approves all items on agenda

EQS-News: Commerzbank Aktiengesellschaft / Key word(s): AGM/EGM
Commerzbank Annual General Meeting approves all items on agenda

30.04.2024 / 18:15 CET/CEST
The issuer is solely responsible for the content of this announcement.

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  * Shareholders approve a dividend of 35 cents per share and authorisation
    for further share buybacks

  * Actions of Board of Managing Directors and Supervisory Board ratified -
    remuneration report approved

  * Jens Weidmann: "Thanks to the great progress, Commerzbank has regained
    the possibility for its shareholders to participate in its success."

  * Manfred Knof: "It is our task to address, accompany, and offer solutions
    to the issues associated with the transformation of the economy. We want
    to be the bank for Germany."

Today, the Annual General Meeting (AGM) of Commerzbank approved the dividend
proposal for the 2023 financial year in the amount of 35 cents per share
with a majority of 99.98% (item 2). Commerzbank resumed its dividend
payments last year and intends to continue to return capital to its
shareholders through a combination of dividend payments and share buybacks.

The AGM voted with a majority of 95.45% and a majority of 95.02%
respectively in favour of the Bank's authorisation to both acquire and use
its own shares (items 7 and 8). This gives Commerzbank the opportunity to
acquire its own shares up to a volume of 10% of the share capital mainly via
the stock exchange or multilateral trading systems. Further buybacks would
require a renewed authorisation of the AGM in advance.

Jens Weidmann, Chairman of the Supervisory Board, said: "Thanks to the great
progress that Commerzbank has made in implementing its strategy, the Bank
has regained the possibility for its shareholders to participate in its
success."

In his speech at the Annual General Meeting, CEO Manfred Knof affirmed that
Commerzbank will make its contribution to the transformation of the German
economy: "Right now, a robust bank, a bank with a solid business model, is
needed. A bank that can defy the overall environment. It is our task to
address, accompany, and offer solutions to the issues associated with the
transformation of the economy. This is our ambition: we want to be the bank
for Germany."

The shareholders voted as follows on the further key items on the agenda:

Ratification of actions (items 3 and 4)
The AGM ratified the Board of Managing Directors' actions with a majority of
between 95.76% and 96.39%. The AGM further ratified the Supervisory Board's
actions with a majority of between 95.38% and 99.89%.

Approval of remuneration report (item 6)
The AGM approved the remuneration report for the last financial year with a
majority of 93.69%.

Amendments to articles of association to the Financing for the Future Act
(item 9)
Furthermore, the proposal to create a basis for electronic shares by
amending the articles of association was adopted with 99.97%. Commerzbank is
not yet planning to switch to electronic shares. However, with the amendment
to the articles of association, the Bank is reacting in a forward-looking
manner to the Financing for the Future Act ("Zukunftsfinanzierungsgesetz"),
which came into force at the end of 2023. It contains, among other things,
regulations that enable public limited companies to issue electronic shares.

Further information on this year's AGM is available on our website.

Press contact
Silvana Herold +49 69 9353-45680
Svea Junge +49 69 9353-45691
Sina Weiß +49 69 9353-45738

Investors' contact
Jutta Madjlessi +49 69 9353-47707
Ute Sandner +49 69 9353-47708

About Commerzbank
Commerzbank is the leading bank for the German Mittelstand. In addition, the
Bank is a strong partner for around 25,500 corporate client groups and
almost 11 million private and small-business customers in Germany. The
Bank's two Business Segments - Private and Small-Business Customers and
Corporate Clients - offer a comprehensive portfolio of financial services.
Commerzbank transacts approximately 30% of Germany's foreign trade and is
present internationally in more than 40 countries in the corporate clients'
business. The Bank focusses on the German Mittelstand, large corporates, and
institutional clients. As part of its international business, Commerzbank
supports clients with a business relationship to Germany, Austria, or
Switzerland and companies operating in selected future-oriented industries.
In the Private and Small-Business Customers segment, the Bank is at the side
of its customers with its brands Commerzbank and comdirect: online and
mobile, in the advisory centre, and personally in its branches. Its Polish
subsidiary mBank S.A. is an innovative digital bank that serves
approximately 5.8 million private and corporate customers, predominantly in
Poland, as well as in the Czech Republic and Slovakia.

Disclaimer
This release contains forward-looking statements. Forward-looking statements
are statements that are not historical facts. In this release, these
statements concern inter alia the expected future business of Commerzbank,
efficiency gains and expected synergies, expected growth prospects and other
opportunities for an increase in value of Commerzbank as well as expected
future financial results, restructuring costs and other financial
developments and information. These forward-looking statements are based on
the management's current plans, expectations, estimates and projections.
They are subject to a number of assumptions and involve known and unknown
risks, uncertainties and other factors that may cause actual results and
developments to differ materially from any future results and developments
expressed or implied by such forward-looking statements. Such factors
include the conditions in the financial markets in Germany, in Europe, in
the USA and other regions from which Commerzbank derives a substantial
portion of its revenues and in which Commerzbank holds a substantial portion
of its assets, the development of asset prices and market volatility,
especially due to the ongoing European debt crisis, potential defaults of
borrowers or trading counterparties, the implementation of its strategic
initiatives to improve its business model, the reliability of its risk
management policies, procedures and methods, risks arising as a result of
regulatory change and other risks. Forward-looking statements therefore
speak only as of the date they are made. Commerzbank has no obligation to
update or release any revisions to the forward-looking statements contained
in this release to reflect events or circumstances after the date of this
release.


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30.04.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS
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The issuer is solely responsible for the content of this announcement.

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   Language:       English
   Company:        Commerzbank Aktiengesellschaft
                   Kaiserstraße 16
                   60311 Frankfurt am Main
                   Germany
   Phone:          +49 (069) 136 20
   Fax:            -
   E-mail:         newsroom@commerzbank.com
   Internet:       www.commerzbank.de
   ISIN:           DE000CBK1001
   WKN:            CBK100
   Indices:        DAX, CDAX, HDAX, PRIMEALL
   Listed:         Regulated Market in Frankfurt (Prime Standard);
                   Regulated Unofficial Market in Berlin, Dusseldorf,
                   Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
   EQS News ID:    1893423

End of News EQS News Service
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1893423 30.04.2024 CET/CEST