Commerzbank : Presentation for Analysts

Stable customer business and strong capital ratio

Analyst conference - Q3 2020 results

Bettina Orlopp | CFO | Frankfurt | 5 November 2020	All figures in this presentation are subject to rounding

Commerzbank 5.0 digital - personal - responsible

Clear progress in business development and transformation

PSBC ›

›

›

CC ›

›

›

Group	›
	›
	›

Legal merger with comdirect completed on 2 November

In 2020 nearly doubling of digital securities transactions and successful integration of securities brokerage in CBK mobile app in Q3

>50% increase of contributions to securities savings plans, many first time investors

Sustained leading position in DCM, joint lead manager of Federal Republic of Germany's

inaugural green bond

Beginning recovery of Trade Finance transactions as activity improves

Relaunch of Cash Management App with new innovative user interface and mobile payment features for Corporate Clients

Committed to TCFD guidelines and issuance of 2nd green bond Investment portfolio of Commerz Ventures with €43m valuation gain Good acceptance of early retirement offer (~800 FTE) finalised in Q2 2020

- next programs successfully negotiated and booking of €201m restructuring charge

Bettina Orlopp | CFO | Frankfurt | 5 November 2020	1

Commerzbank 5.0 digital - personal - responsible

Branch closures and offer of early retirement result in €201m restructuring charge

Number of branches in Germany

Branches to be closed

Corona related closures

~1,000	Open branches

	~200
	~200
	~600
2019	YE 2020e

Further personnel reduction measures (second early part-time retirement program)

• Offer available to domestic staff aged 55 to 60, who fulfill requirements to early retire at 63
• Staff will continue to work full time for the first half of the program and go into early retirement afterwards
• Staff will receive 50% of salary plus a top-up for the whole period of the program as well as a one-time special payment
• Booking of full salary as personnel expenses in first half of program; no personnel expenses in second half

Voluntary severance offer to staff in closed branches

• Branch closures result in €62m restructuring charges for administrative and personnel expenses
• Amortisation expected after 2-3 years

Impact from second early part-time retirement program

• Further reduction of ~1,000 FTEs is expected in addition to ~800 FTEs from program finalised in Q2 2020
• Additional restructuring charge of €139m

Bettina Orlopp | CFO | Frankfurt | 5 November 2020	2

Commerzbank 5.0 digital - personal - responsible

Stable customer business and strong capital ratio

Highlights Q3 2020

Stable operating performance of customer business during Q3

• Underlying customer revenues (NII and NCI) in PSBC and CC on same level as Q2
• Loan demand from corporate customers normalised following larger drawings of credit lines in H1
• Continued growth in customers (+82k) and loans (+€2bn) in PSBC Germany

Operating result of €168m; net result reflects booking of restructuring charge

• Q3 operating expenses with further savings of €37m YoY while maintaining IT investments
• YoY underlying revenues €73m lower mainly due to legal reserves for FX loan portfolio in Poland
• Risk result of -€272m includes -€181m impact from Corona in line with guidance

Strong capital ratio

• CET1 ratio of 13.5% and distance to MDA of ~370bp following further issuance of AT1 in Q3
• RWA reduced by €4bn with lower precautionary drawings of credit lines by customers
• NPE ratio of 0.9% underlines sound quality of loan book

Bettina Orlopp | CFO | Frankfurt | 5 November 2020	3