Commerzbank AG — Earnings Release 2012

Feb 15, 2013

Significant de-risking achieved

Commerzbank – Figures, Facts, Targets

Investor Relations

4th Quarter 2012

Authorised by "Bundesanstalt für Finanzdienstleistungsaufsicht" and by the Financial Services Authority; regulated by the Financial Services Authority for the conduct of UK business.

This publication appears four times a year to accompany the quarterly results and the annual financial statements.

This publication can also be found on Commerzbank's website, in German and English.

German: www.commerzbank.de Investor Relations Investor Relations Publikation English: www.commerzbank.com Investor Relations Investor Relations Publication

Completed on February 14, 2013

Commerzbank – Figures, Facts, Targets

Content

Commerzbank Financials at a glance
Commerzbank in FY2012 at a glance _______ 2
Core Bank with solid adjusted
operating result in 2012
Profit per quarter ________ 3
Commerzbank Group's
income statement
Net interest income ______ 4
Loan loss provisions
by segment
Breakdown of net commission income _____ 5
Net trading income and net income from hedge accounting
Operating expenses _____ 6
Profitability ratios
Development of business volumes ______ 7
Claims on customers
Probability of Default-Rating ______8
Breakdown of assets
Breakdown of liabilities ___ 9
Revaluation reserve
RWA, Tier 1 capital ratio,
total capital ratio and
core Tier 1 capital ratio __ 10
Commerzbank is more resilient
than before Dresdner Bank acquisition
New strategic agenda ___ 11
New segment structure
of Commerzbank Group
Operating profit by segment ____ 12
Segment reporting
Value drivers ____ 13

Private Customers Mittelstandsbank _______ 14
Central & Eastern Europe Corporates & Markets ___ 15
Non-Core Assets New brand promise: "The bank at your side" __ 16
Group equity definitions Average capital employed within Commerzbank Group ___ 17
Basel III CET 1 comfortably above 9% under phase-in Optimise capital allocation ______ 18
Capital market funding Key figures of Commerz bank share _____ 19
Commerzbank's shareholders Equity and market capitalization _ 20
Performance of the Commerzbank share Trading volume of the Commerzbank share ____ 21
Offices of Commerzbank Group worldwide Personnel data ________ 22

All figures – if not stated otherwise – according to IAS/IFRS

Commerzbank Financials at a glance

G r o u p	Q 4 2 0 1 1	Q 3 2 0 1 2	Q 4 2 0 1 2	1 2 M 2 0 1 1	1 2 M 2 0 1 2
O ti ul t ( € ) p e r a n g r e s m	1 6 3	2 1 6	3 5 -	5 0 7	1, 2 1 6
C Ti 1 ti B 2. 5 ( % ) o r e e r r a o	9. 9	1 2. 2	1 2. 0	9. 9	1 2. 0
R W A ( € b ) n	2 3 7	2 0 6	2 0 8	2 3 7	2 0 8
( % ) L ti e v e r a g e r a o	2 1	1 9	1 9	2 1	1 9
C B k (i cl O & C ) o r e a n n	Q 4 2 0 1 1	Q 3 2 0 1 2	Q 4 2 0 1 2	1 2 M 2 0 1 1	1 2 M 2 0 1 2
O ti ul ( € ) t p e r a n g r e s m	1, 9 9 5	6 9 2	4 1 2	4, 6 5 5	2, 5 5 7
O R E ( % ) p. o	3 9. 8	1 3. 9	8. 2	2 1. 8	1 4. 2
C I R ( % )	4 8. 4	6 8. 9	7 6. 5	5 9. 3	7 0. 0
Ri k d si ty f E D ( b s) s e n o a p	3 1	2 7	2 7	3 1	2 7
L T D ti ( % ) r a o	8 4	7 7	7 6	8 4	7 6
1) N C A	Q 4 2 0 1 1	Q 3 2 0 1 2	Q 4 2 0 1 2	1 2 M 2 0 1 1	1 2 M 2 0 1 2
O ti ul ( € ) t p e r a n g r e s m	-1 ,3 9 1	4 6 7 -	4 4 7 -	4, 0 1 8 -	-1 2 ,5 5
E D i cl N P L ol ( € b ) a n m e n v u	1 8 1	1 6 0	1 5 1	1 8 1	1 5 1
Ri k d si ty f E D ( b s) s e n o a p	3 7	5 8	6 6	3 7	6 6

1) EBA-Buffer re-allocated as of Q4 2012 from O&C to NCA (restated in Q3 2012)

Commerzbank in FY2012 at a glance

S i li f C b k i it i d it h d i t t t t t t t t r a e g c r e a g n m e n o o m m e r z a n n a e w n e w a r g e s a n s r a e g c f C f C d b d it i i li t P d t b li h t N A a g e n a n e w r a n p o s o n n g r e a g n m e n o a n e s a s m e n o , ,
G d N C i d d it h € 3 0 b E D (i l. N P L ) d ti lr d t rt t o o s a o o n o r e w n o w n w n a n c r e u c o n a e a y - - h i d i F Y 2 0 1 2 d i N C A rt f li b 1 7 % d 2 0 1 1 a c e v e n r e u c n g p o o o y v s y e a r e n - ,
€ f € if 1 0 b t d ti h i d h i t l l 7 0 b i i tl b l n c o s r e u c o n a c e v e r e a c n g c o s e v e o n s g n c a n y e o w , , ri i l f € 7 6 b d F Y 2 0 1 1 f € 8 0 b t t t o g n a a r g e o n a n c o s s o n
E B A it l ir t i if i tl h i d C T 1 ti i d f 9 9 % c a p a r e q u e m e n s g n c a n y o v e r a c e v e r a o n c r e a s e r o m , 1 2 0 % B l II I f ll h d i C E T 1 f 6 % d t 7 t o a s e u y p a s e n o a y e a r e n - ,
G ti lt f € 1 2 b i if i tl i d lt f € 6 t r o p o p e r a n g r e s o n s g n c a n m p r o e o n e r e s o m u u y v y y u - - , € € f f f f i l d 6 7 3 D T A i ir t d 2 6 8 t l B k F n c u e s m m p a m e n a n m e e c r o m s a e o a n o r u m - -
C B k it h li d d j d ti lt f € 2 8 b i 2 0 1 2 t o r e a n s o a s e o p e r a n g r e s o n n w u u

Core Bank with solid adjusted operating result, significant cost reduction in FY 2012

Q4 vs. Q3 2012

- Solid adjusted operating result of €2.8bn achieved in a volatile market environment with lower client activity and falling interest rates

• Revenues weaker y-o-y as interest income declines amid 4%/€26bn balance sheet reduction and lower interest rates, commission income driven by still low level of market confidence

-Core bank LLPs on a low level and €199m below FY 2011, benefiting from strong German economy and sound portfolio

-Significant y-o-y cost efficiencies of €871m realized thanks to stringent cost management

Profit per quarter

	1. 1. 3 1. 1 2. 2 0 1 2 -	1. 1. 3 1. 1 2. 2 0 1 1 -	C h	a n g e
	i € n m	in € m	in € m	in %
N t i nt st i e e r e n c o m e	5, 5 3 9	6, 7 2 4	-1 ,1 8 5	-1 7. 6
L lo vi si o a n s s p r o o n s	-1 ,6 6 0	-1 ,3 9 0	2 7 0 -	1 9. 4
N t i i ft r l lo vi si nt st e e r e n c o m e a e o a n s s p r o o n s	3, 8 9 7	3 3 4 5,	-1 ,4 5 5	2 3 7. -
N is si i t e c o m m o n n c o m e	3, 1 9 1	3, 4 9 5	3 0 4 -	8. 7 -
N t tr di i t i f h d nt + e a n g n c o m e n e n c o m e r o m e g e a c c o u	1, 1 2 1	1, 9 8 6	8 6 5 -	4 3. 6 -
N t i st nt i e n v e m e n c o m e	8 1	3, 6 1 1 -	3, 6 9 2
C f f nt t i ni nt d u rr e n e n c o m e r o m c o m p a e s a c c o u e o r si t h ui ty th d u n g e e q m e o	4 6	4 2	4	9. 5
O th t i e r n e n c o m e	7 7 -	1, 2 5 3	-1 ,3 3 0
f In b l l vi si c o m e e o r e o a n o s s p r o o n s	9, 9 0 1	9, 8 8 9	1 2	0. 1
O ti p e r a n g e x p e n s e s	7, 0 2 5	7, 9 9 2	9 6 7 -	-1 2. 1
O ti fi t l p e r a n g p r o o r o s s	1, 2 1 6	5 0 7	7 0 9
I ai nt f d ill d b d m p r m e s o g o o w a n r a n n a m e s	-	-	-
R st ct ri e ru u n g e x p e n s e s	4 3	-	4 3
N t ai r l fr al f di al e g n o o s s o m s e o s p o s g r o u p s	2 6 8 -	-	2 6 8 -
P fi l -t t r e a p r o o r o s s x	9 0 5	5 0 7	3 9 8	7 8. 5
T in a x e s o n c o m e	7 9 6	2 4 0 -	1, 0 3 6
C fi li d t d t l o n s o a e p r o o r o s s	1 0 9	4 7 7	6 3 8 -	8 4 5. -
tt ri b ut bl t nt ol li i nt st a a e o n o n c o r n g e r e s - -	1 0 3	1 0 9	6 -	5. 5 -
ri b bl C B K h h ol d tt ut t a a e o s a r e e rs -	6	6 3 8	6 3 2 -	9 9. 1 -

Net interest income

Loan loss provisions by segment

Commerzbank Group, in € ^m

Breakdown of net commission income

Net trading income and net income from hedge accounting

Commerzbank Group, in € ^m

Operating expenses

Profitability ratios

Development of business volumes

1) after provisions

Claims on customers1)

Commerzbank Group

Probability of Default-Rating of Commerzbank

Breakdown of assets

Commerzbank Group, in € ^m

Breakdown of liabilities

Revaluation reserve

in € bn

RWA, Tier I capital ratio, total capital ratio and core Tier I capital ratio

1) The core Tier I capital ratio is the ratio of core Tier I capital (ordinary shares, retained earnings and silent participations) to risk-weighted assets

Commerzbank is more resilient than before Dresdner Bank acquisition

1) Commerzbank stand-alone figures; segmental structure as at year-end 2009

Taking into account the changed market environment, Commerzbank sets up its new strategic agenda

New segment structure of Commerzbank Group

P C	M S B	C E E	C & M	N C A	O h t e r s
P ri at Cl ie nt v e s W al th e M nt a n a g e m e Di ct B ki re a n n g C R al o m m er z e	M S B G er m a n y L C at & ar g e or p or e s In te at io al rn n Fi ci al n a n In st it ut io n s	B R E B k a n	E ui ty M k et & q ar s C di ti o m m o e s Fi d In & x e c o m e C ci ur re n e s C at Fi or p or e n a n c e Cl ie nt R el at io hi n s p M nt a n a g e m e R h e s e ar c C tf di t P ol io re or M nt a n a g e m e	C ci al R al o m m er e E st at e P bli Fi u c n a n c e D ut h e s c e S hi ff b k c s a n	G S t ro u p u p p or F ct io u n n s G T ro u p re a s ur y
Fi f 3 1. 1 2. 2 0 g u re s a s o	1 2
R W A (€ b n)	R W A (€ b n)	R W A (€ b n)	R W A (€ b n)	R W A (€ b n)	R W A (€ b n)
2 9	4 5	1 5	3 0	6 8	1 2
E A D (€ b n)	E A D (€ b n)	E A D (€ b n)	E A D (€ b n)	E A D (€ b n)	E A D (€ b n)
7 6	1 1 1	2 5	6 8	1 3 9	4 1

Operating profit by segment

in € ^m

Segment reporting

Commerzbank Group, 1.1.-31.12.2012, in € ^m

	P C	M S B	C E E	C & M	N C A	P R U	O t h & e r s C ol i o n s d ti a o n	T al t o
N et i nt st i er e n c o m e	1, 8 3 5	1, 9 5 4	8 2 4	6 5 4	6 8 9	2 4	-9	5, 5 3 9
L n l vi si o a o ss p ro o ns	-9 5	-3 0	-1 0 5	-5 2	-1 ,3 7 4	-3	-1	-1 ,6 6 0
N et i nt st i af te er e n c o m e r lo n l vi si a o ss p ro o n s	1, 4 0 7	1, 9 2 4	3 7 7	4 9 4	-6 8 5	3 9	-1 0	3, 8 7 9
N mi io n i et c o m ss n c o m e	1, 4 6 5	1, 0 61	1 8 8	31 9	1 0 4	0	-2 7	3, 1 91
N et tr di g i et + a n n c o m e n in fr h d nt c o m e o m e g e a c c o u	3	-2 2	1 0 3	5 3 4	-2 4 4	1 4 6	6 01	1, 1 21
N et i st nt i n v e m e n c o m e	-4	31	9	2 0 8	-3 2 3	2 8	1 3 2	81
C fr nt et i ur re n n c o m e o m ni nt d fo c o m p a e s a c c o e r u si th ui ty et h d u n g e e q m o	2 7	6	0	12	-2	0	3	4 6
O th et i er n n c o m e	-5 7	-1 4	3 6	-2 3	1	0	-2 0	-7 7
In b ef L L P c o m e or e s	3, 3 5 0	3, 0 1 6	8 1 8	1, 5 9 6	2 2 5	2 1 6	6 8 0	9, 9 0 1
O ati p er n g e x p e ns e s	3, 01 0	1, 3 3 7	3 4 7	1, 3 4 7	3 6 7	2 9	3 4 5	7, 0 2 5
O at in of it r l p er g pr o o s s	2 4 5	1, 6 4 9	2 4 0	1 9 7	-1 ,5 2 5	1 8 4	2 2 6	1, 21 6
I ai nt of d wi ll m p r m e s g o o d br d a n a n n a m e s	-	-	-	-	-	-	-	-
R st ct in e ru ur g e x p e ns e s	-	-	-	-	4 3	-	-	4 3
fr of N et ai l al g n or o ss o m s e di al s p o s g ro ps u	-	-	-2 6 8	-	-	-	-	-2 6 8
P -t of it r l re a pr o o s s x	2 4 5	1, 6 4 9	-2 8	1 9 7	-1 ,5 6 8	1 8 4	2 2 6	9 0 5

Value drivers

Commerzbank Group, 1.1.-31.12.2012

	P C	M S B	C E E	C & M	N C A	P R U	O & t h e r s C li o n s o d ti a o n	T t l o a
A pi al t v e r a g e c a pl d ( € ) e m o y e m	3 9 1 9 ,	5 7 7 1 ,	1, 7 6 3	3 2 1 1 ,	1 0 0 0 3 ,	1, 3 7 8	3 3 9 9 ,	2 9 4 4 4 ,
R W A ( d f ri d ) e n o p e o	2 9 0 4 7 ,	5 3 8 1 4 ,	1 5 2 7 9 ,	2 9 7 7 6 ,	6 7 7 8 2 ,	-	-	2 0 8 ,1 3 5
O ti p e r a n g t/ in c o s c o m e ti ( % ) r a o	8 9 9	4 4 3	5 7 8	8 4 4	1 6 7 .1	-	-	7 1 0
O ti t p e r a n g r e r n u ui t ( % ) o n e q y	6 3	2 8 6	1 3 6	6 .1	-1 5 2	-	-	4 .1
S t ff ( a a v e r a g e h d t) e a c o n u	1 7 5 9 7 ,	5 8 3 6 ,	8 4 4 4 ,	2 0 1 7 ,	7 6 0	2 5	1 9 ,1 1 9	5 3 7 9 8 ,

Private Customers

C b k ' S t t i o m m e r z a n s r a e g c P it i o s o n	S d l ri b k i G it h b l t t t t e c o n a r g e s p v a e c u s o m e r a n n e r m a n y w s a e › b f b 1 1 ill i ri t t t t c u s o m e r a s e o a o u m o n p v a e c u s o m e r s : O f h l ri b d i G it h t t t t n e o e a r g e s p v a e c u s o m e r r a n s n e r m a n y w › h i h ti id (t t: 1, 2 0 0 b h ) g n a o n w e c o v e r a g e a r g e r a n c e s d ir t G : l d i O li B k d k t l d i c o m e c r o u p e a n g n n e r o e r a n m a r e e a e r n › f li ri ti b si i t o n n e s e c e s n e s s o r n e s o r s u u v O f t h l d i lt h i G it h l n e o e e a n g w e a m a n a g e r s n e r m a n y w a a r g e › ti i d n a o n e c o e r a g e w v f H i h tt ti it ri t b ki t g a r a c o r p a e a n n g c s o m e r s › v y v u S f fi f tr i d ci l i b si t o n g p r o v e r o n a n a s e r v c e s o r u n e s s c u s o m e r s ›
P fi b il it D ri t r o a y v e r s	B si d l si t tl b d t ri t ti t h h u n e s s m o e c o n s e n y a s e o n c u s o m e r o e n a o n r o u g : › R i i t tr t b si t t d iti l l e g a n n g c u s o m e r u s y r e v e r o n o r a o n a v a u e s › h f ir d t t h b tr t h i t h s u c a s a n e s s a n c o m p e e n c e : e r e y s e n g e n n g e b si it h is ti t b ll i i n e s s o r e n g c s o m e r a s e a s e a s g a n n g u w u x u w t n e c s o m e r s w u f O L -t d is ti li B ki d b h o n g e r m m o e r n a o n o o r n n e a n n g a n r a n c › u t k n e w o r
S t t i G l r a e g c o a s	G 's f T b N 1 b k h is ti t d ri t t b o e e r m a n o a n o r s o p c a e p a e c s o m e r s › y v u y li h d fi b ili t t t t q u a y g r o w a n p r o a y , O h " C B k t t t u r c u s o m e r s s e e u s a s e u s o m e r a n › " A b i ci ti i l h d rt -t t t o v e a v e r a g e p a p a o n n o n g e r m g r o w r e n s ›

Mittelstandsbank

C b k ' S t t i o m m e r z a n s r a e g c 1 ) P it i o s o n	f G " " L d i b k t h M it t ls t d i d ti k t d e a n g a n o r e e r m a n e a n n o m e s c m a r e a n › b d a r o a S t i b l d tr t i rt f t h ti " M it t ls t d " s a n a e a n s a e g c p a n e r o r e e n r e e a n a c r o s s › u k cl t m a r e c y e s O f t h t 3 b k i f i t d i i t h E n e o e o p a n s n o r e g n r a e s e r v c e s n e u r o z o n e › ll i E ti rl d i d t tr a s w e a s n u r o p a y m e n a n s a c o n s w o w e
P fi t b il it D ri r o a y v e r s	C i ci d t b l b si d l: o n v n n g a n s a e u n e s s m o e U ri l d i l i d ti k d d t n v a e r e g o n a c o v e r a g e n o m e s c m a r e a n e n s e › 2 ) i t ti l t k n e r n a o n a n e w o r
	S ri l ti h i b d i h ri ti l p e o r r e a o n s p a s e s e r c e a p p r o a c e n s n g o p m a › u v u - l ti f h i d i i d l cl i t s o u o n s o r e a c n v u a e n F i t d rt is t rt cl i t i f i ci d o r e g n r a e e x p e e o s u p p o o u r e n s n n a n n g a n › si f f i d ti iti t p r o c e s n g o o r e g n r a e a c v e s C li t- tr i it l k t k h d b C t & e n c e n c c a p a m a r e n o w o w e n s u r e y o r p o r a e s › - M k it d d i d h " M it ls d " t t t t t t a r e s u n s e c a e o s e r v e e e a n R si li t lt si 2 0 0 9 t t d i K P I i ti ti e e n r e s u s n c e o u s a n n g s n c o m p e v e › , ( C ) ri R E I R c o m p a s o n o ,
S i G l t t r a e g c o a s	F h si d h i f si ti l d i rt tr t u e r e x p a n o n a n s e n g e n n g o o u r p o o n a s e a n g " M it t ls t d b k " b e a n s a n y : G i i ll cl i d i si h f ll i t t a n n g n e w s m a c a p e n s a n n c r e a n g o u r s a r e o w a e n › t h i d /l cl i t t e m a r g e c a p e n s e g m e n I ti l h b li is ti b si d l t t n e r n a o n a g r o w y s c a n g e x n g u n e s s m o e › E t si f h t d t d f i b si x e n o n o c a s m a n a g e m e n a n r a e n a n c e u n e s s › f F rt h ti iz ti t d i i t e r o p m a o n o c s o m e r p r o c e s s e s a n n c r e a s e n c o s › u u ff i ci e e n c y
1) 2) G rdi to ti at 1 50 lo tio in ac co ng o w n es m es ca ns er m an y,	>3 0 i nt tio l b he >7 00 0 de nt ba nk er na na ra nc s, co rre sp on s

Central & Eastern Europe

C b k ' S i t t o m m e r z a n s r a e g c P it i o s o n	G L d i b k i P l d it h t h 4 t e a n g e r m a n a n n o a n m o r e a n m c s o m e r s w u F si C b k' k ci i f ll i t o c u n g o n o m m e r z a n s e y c o m p e e n e s n u s e r v c e b ki i P l d d d ir t b ki i P l d C h R b li a n n g n o a n a n e c a n n g n o a n z e c e p u c , S d l ki a n o a a v C ti fi b l i h it h i h k tr t t t t o n c e n a o n o n p r o a e o r g a n c g r o w w n e s e m a r e s
P fi b il it D ri t r o a y v e r s	F si fi b l b si t o c u n g o n p r o a e c o r e u n e s s O ti iz ti f d t rt f li p m a o n o p r o u c p o o o f D l t b si d e e o p m e n o n e n e s s a n r e e n e s o r c e s v w u v u u O i ff i ci n g o n g e e n c y m e a s u r e s
S t t i G l r a e g c o a s	fi f F rt h i si t b ili t i t b ki d t h e r n c r e a n g p r o a n c o r p o r a e a n n g o c s e g r o u y u w , i il b ki t n r e a a n n g S tr i t ri k t, ti ff i ci i t d c s m a n a g e m e n c o n n u o u s e e n c y m p r o v e m e n a n f d l t tr e e o p m e n o n e r e e n e s e a m s v w v u F h d l f b si d ls b si i d rt t u e r e v e o p m e n o u n e s s m o e e g u n e s s m x a n , ti l ll o p e r a o n a e x c e e n c e

Corporates & Markets

C S b k ' t t i o m m e r a n s r a e g c z P it i o s o n	L i t ti l i h l it h tr it t t h a r g e n e r n a o n a n c e p a e r s o n g c o m m m e n o o m e › y w k t & t h i d E i d f d l b l m a r e e w e r u r o p e a n r e g o n a n a o c u s e g o a p r e s e n c e C li i b si d l b il l l ti h i t- tr t -t › e n c e n c u n e s s m o e u o n o n g e r m r e a o n s p s a s ll d t d i d tr t rt is e a s p r o c a n n s s e c o r e p e e w u u y x P d t ri k t d d i t d ri t t d i d k › r u e n s m a n a g e m e n n o e c a e p r o p e a r y r a n g e s s – D i si fi d b si d l it h f i ill C tr t t › v e r e u n e s s m o e w o u r s a e g c p a r s : o r p o r a e & C & F i E it M k t d iti F i d I n a n c e q a r e s o m m o e s e n c o m e u y x , , C ci d C d it P rt f li M t u rr e n e s a n r e o o o a n a g e m e n S it ti is d it l d b l h tr t t t › o n g c o m m m e n o o p m e c a p a a n a a n c e s e e u s a g e d t ff i ci a n c o s e e n c y
fi P t b il it D ri r o a e r s y v	C lli t t h G 's t si cl i t fr h is r o s s s e n g o e r o u p e x e n v e e n a n c e › - A k l d d d t rt is c n o w e g e p r o u c e x p e e : › N N 1 si ti i 2 0 1 2 t h S A d › u m e r o u s o p o o n s n a c r o s s e c o p e w a r s , T h E l R h S E F X P ll, D h t t o m s o n x e e s e a r c u r v e y u r o m o n e y o e u s c e s , R is k D ri ti P ll d h S d R il P d A d i t tr t t t e v a v e s o a n e u c u r e e a r o u c s w a r s n b t h E d A si o u r o p e a n a N 1 f G L t t h E k S d i t d L A d › o o r e r m a n o a n s a e u r o w e e y n c a e o a n s w a r s f f f t h l t ti d l d o r e a s o u r c o n s e c u v e y e a r s a n n u m e r o u s a c c o a e s o r o u r , i l t i C it l M k t t ti n v o v e m e n n a p a a r e s r a n s a c o n s
S t t i G l r a e g c o a s	S tr t h E k t l d h i i ri ti d d t e n g e n u r o p e a n m a r e e a e r s p n s e c u s e p r o u c s › E h si ti i i C d it, I R d F X is k l ti t n a n c e p o o n n g n r e a n r m a n a g e m e n s o u o n s › f C f F rt h i E D b t it l M k t h is e r r e n o r c e r o p e a n e a p a a r e s r a n c e › u u S tr t h d is tr i b ti t i ti t ti l cl i t e n g e n u o n o n s u o n a e n s ›

Non-Core Assets (NCA)

C b k ' o m m e r z a n s p r o v e n t k d r a c r e c o r	C b k h tr d f rt f li i d d d it o m m e r a n a s a s o n g r e c o r o p o o o n o n e s p e a › z w w h ll i ir t v e r y c a e n g n g e n v o n m e n B t Y E 2 0 0 8 d Y E 2 0 1 2 N C A rt f li d ti f 4 8 % t e w e e n a n p o o o r e u c o n o o › € 1 5 1 b t h f: C ci l R l E t t rt f li € 5 5 b P b li n e r e o o m m e r a e a s a e p o o o n c u , F i f li € b ( cl P F I) d S h i F i € 1 9 b rt 7 7 n a n c e p o o o n e x a n p n a n c e n
R d t t u n o w n s r a e g y	f f f V l i d it h t rt li d ti d a u e p r e s e r v n g r u n o w n w o c u s o n a s p o o o r e u c o n a n › ri k iti ti s m g a o n K ti t ti t ri t f t h rt f li d e y q u a n a v e s e e n g p a r a m e e r s o r e p o o o r u n o w n › ill b it l li f d d ti f f li l t rt w e n e c a p a r e e a n r e u c o n o p o o o v o u m e I d d iti k li t ti t ri t ill b is k n a o n e y q u a a v e s e e n g p a r a m e e r s w e r › , d ti t b ili ti f ls d ti f l it r e c o n s a a o n o c o e r p o o r e c o n o c o m p e u z v u x y , , W i d d d it f li i ti it h cl i rt t n o w n c r e p o o o n c o o p e r a o n w e n s › A l t d ti i d d f t it h t it l li f d / c c e e r a e a c v e w n o w n o r a s s e s w n e c a p a r e e a n o r › ti is k tl k n e g a e r o o o v u
S i l t t r a e g c g o a s	E D d ti V l i f li d ti f € 1 2 b rt 5 a r e u c o n : a u e p r e s e r v n g p o o o r e u c o n r o m n › - ( Y E 2 0 1 2 ) t € 9 3 b ( Y E 2 0 1 6 ) l d o n p a n n e f f A ti rt li t: ti is rt li d ti b si t t c e p o o o m a n a g e m e n o p m e p o o o r e c o n c o n s e n › v u y ri h ll cl t t s e e n g a p p r o a c a c r o s s a a s s e a s s e s F rt h ti is i d f d i tr t it h f d u e r o p m e a c c o m p a n e u n n g s u c u r e w o c u s o n s e c u r e › f f % d i d tl d ci d d i t 2 7 n n g a n c o n s e q e n r e n g n s e c r e n n g o u u y u u u u ( Y E 2 0 1 6 ) O ti l fr h is f rt h t b ili d b ti ti t ff p e r a o n a a n c e u e r s a z e y m o v a n g s a ›

New brand promise: "The bank at your side"

Group equity definitions

R ci li ti f it d fi it i e c o n a o n o e q u y e n o n s		E q u	it b si f R E y a s o r o
E ui ty d ef in iti in € q o n s m	Q 4 2 0 1 2 E d f ri d n o p e o	1 2 M A v e ra g e
S b ib d pi ta l u s cr e c a	5, 8 2 8	5, 6 0 9
C pi ta l r a e s er v e	11 ,6 81	11 ,3 0 7
R et ai d ni n e e ar n g s	8, 8 2 9	9, 11 0
Si le ti ci io S F Fi n/ Al lia nt at p ar p n s o n z	2, 3 6 7	2, 4 6 6
C tr sl at io ur re n c y a n n re s er v e	-3 8	-1 8 7
C ol id at d P & L* o n s e	-2 1 5	3 3 8
In ' C pi l it h ol li in st ta ut nt te st v e o rs a w o n o n- c o r n g re s	2 8, 4 6 1	2 8, 6 4 3		B si f R E et fi t a s o r o o n n p r o
N lli in (I F R S ) nt te st o n- c o ro n g re s	8 8 5	8 01
' C In st pi ta l v e o rs a	2 9, 3 1 9	2 9, 4 4 4		B si f ti R E d -t a s o r o p e ra n g o a n p re a
C pi l d d cti d wi ll d h dj ta ot st nt a e u o n s, g o o a n er a u m e s	-4 ,3 3 3
B el II pi ta l it h ut h b ri d pi ta l a s c o re c a w o y c a	2 4, 9 8 6
H br id pi l ta y c a	2, 2 5 9
B el II T ie r I pi l ta a s c a	2 7, 2 4 5

* After deduction of distribution to silent participants;** excluding: Revaluation reserve and cash flow hedges

Average capital employed within Commerzbank Group

Average, 1.1.-31.12.2012

• Private Customers €3,919m
• Mittelstandsbank €5,771m
• Central & Eastern Europe €1,763m
• Corporates & Markets €3,211m
• Non-Core Assets €10,003m
• Portfolio Restructuring Unit €1,378m
• Others & Consolidation €3,399m

Basel III CET 1 comfortably above 9% under phase-in

Note: estimated impacts as of January 2013

Optimise capital allocation: RWA reduction in NCA results in significantly improved capital allocation in 2016

1) figures according to current NCA structure

Limited unsecured issuance in 2012 – flexible funding approach to support franchise demand and diversify funding

• › Ongoing asset reduction and good deposit base limits capital market funding need
• › Capital market funding depending on franchise demand and as an opportunity for funding diversification
• ›Strong liquidity profile maintained
• › LTRO I already paid back in January, LTRO II expected to be fully paid back

Key figures of Commerzbank share

1) result for the quarter on accumulative basis

Commerzbank's shareholders

as of 31.12.2012

1) according to latest shareholder ID

Commerzbank Group, in € bn

Equity and market capitalization

Performance of the Commerzbank share

Month-end figures, January 2011 = 100

Trading volume1) of the Commerzbank share

Offices of Commerzbank Group wordwide

as of 31.12.2012

Personnel data

1) C G b k o m m e r a n r o p z u	2 0 0 9	2 0 1 0	2 0 1 1	2 0 1 2
E l m p o y e e s	6 2 6 7 1 ,	5 9 ,1 0 1	5 8 ,1 6 0	5 3 6 0 1 ,
in G e r m a n y	4 6, 4 7 8	4 5, 3 0 1	4 4 ,4 7 4	4 2 8 5 7 ,
b d a r o a	1 6, 1 9 3	1 3, 8 0 0	1 3, 6 8 6	1 0 7 4 4 ,

1) year-end figures

Disclaimer

Reservation regarding forward-looking statements

This publication contains forward-looking statements on Commerzbank's business and earnings performance, which are based upon our current plans, estimates, forecasts and expectations. The statements entail risks and uncertainties, as there are a variety of factors which influence our business and to a great extent lie beyond our sphere of influence. Above all, these include the economic situation, the state of the financial markets worldwide and possible loan losses. Actual results and developments may, therefore, diverge considerably from our current assumptions, which, for this reason, are valid only at the time of publication. We undertake no obligation to revise our forward-looking statements in the light of either new information or unexpected events.

2013 Financial Calendar

End-March 2013	Annual Report 2012
May 7, 2013	Interim Report Q1 2013
May 22, 2013	Annual General Meeting
August 8, 2013	Interim Report Q2 2013
November 7, 2013	Interim Report Q3 2013

Commerzbank AG Head Office Kaiserplatz Frankfurt am Main

www.commerzbank.com Postal address 60261 Frankfurt am Main

Group Management

Investor Relations Tel. +49 (0)69 / 136-2 22 55 Fax +49 (0)69 / 136-2 94 92

Mail ir@commerzbank.com