REG-Commerzbank Aktiengesellschaft Invitation to Annual General Meeting of Commerzbank on 30 April 2024

COMMERZBANK AGAnnouncement

20/03/2024 14:45

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   Commerzbank Aktiengesellschaft (CZB)
   Invitation to Annual General Meeting of Commerzbank on 30 April 2024

   20-March-2024 / 15:39 CET/CEST
   The issuer is solely responsible for the content of this announcement.

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     • Decision on dividend proposal of €0.35 per share and on authorisation
       to execute share buybacks on agenda
     • Once again virtual format with right to speak and ask questions live
       at the event

   Today, Commerzbank AG has published the invitation to its Annual General
   Meeting on Tuesday, 30 April 2024. The event will take place virtually
   without the physical presence of the shareholders or their proxies based
   on the authorisation in the Articles of Association granted by a large
   majority of last year's Annual General Meeting. The Annual General Meeting
   will begin at 10.00 a.m. CET and will be transmitted live on the corporate
   webpage of Commerzbank for registered and legitimate shareholders. As was
   the case last year, shareholders or their proxies will have the
   opportunity to actively participate live with the right to speak and to
   ask questions at the event. As in previous years, the speech of the Chief
   Executive Officer (CEO) Manfred Knof and the statement of the Chairman of
   the Supervisory Board Jens Weidmann will be transmitted live and will be
   available publicly on 30 April 2024 from 10.00 a.m. CET at
    1 www.commerzbank.com/agm.

   The letter to the shareholders from the Chairman of the Supervisory Board
   was recently published and made available online at
    2 www.commerzbank.com/agm together with the full text version of the
   invitation to the Annual General Meeting 2024 including the agenda and
   explanations of each item. In addition, the advance manuscripts of the
   speech by the CEO and of the main points addressed by the Chairman of the
   Supervisory Board are expected to be available on the same webpage from
   23 April 2024.

   Of particular note are the following items on the agenda:

   Resolution on the use of distributable profits (item 2)
   The Board of Managing Directors and the Supervisory Board of Commerzbank
   propose that the distributable profits for the financial year 2023 are
   used to pay a dividend of €0.35 per dividend-bearing share. The dividend
   payment complements the share buyback of around €600 million completed on
   5 March 2024. As planned, the Bank will return a total of around
   €1 billion to its shareholders for the 2023 financial year.

   Authorisation to execute share buybacks (items 7 and 8)
   The Bank aims to continue a combination of share buybacks and dividend
   payments when it comes to capital return. In order to be able to further
   use share buybacks, the Bank is to be given the opportunity to acquire own
   shares in a volume of up to 10% of the value of the share capital by
   29 April 2029. The acquisition is to be made via the stock exchange or by
   means of a public purchase offer addressed to all shareholders. The Bank
   also plans to acquire its own shares through multilateral trading systems
   and by using derivatives. The Annual General Meeting last approved the
   authorisation to repurchase its own shares in 2020, under which the Bank
   carried out two share buybacks totalling around 5.45% of the share
   capital. The new authorisation replaces it.

   Further information is available in the convocation of the Annual General
   Meeting published today at  3 www.commerzbank.com/agm.

    

   Press contact
   Svea Junge  +49 69 9353-45691
   Kathrin Jones  +49 69 9353-45687

   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 and 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 per cent 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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   Dissemination of a Regulatory Announcement, transmitted by EQS Group.
   The issuer is solely responsible for the content of this announcement.

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   ISIN:          DE000CBK1001
   Category Code: MSCU
   TIDM:          CZB
   LEI Code:      851WYGNLUQLFZBSYGB56
   Sequence No.:  310968
   EQS News ID:   1863489


    
   End of Announcement EQS News Service

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