Commerzbank AG

Environmental & Social Information • Aug 30, 2024

Content

1. Sustainability approach
2. Environment
3. Social
4. Governance
5. Client business sustainability
6. Additional information: ESG framework / links / contacts

Commerzbank ESG Presentation

Sustainability approach

Sustainability is an integral part of Commerzbank's corporate strategy - Management view and core beliefs

"Sustainability has been an integral part of our corporate strategy since 2020. We want to play our part in bringing global financial flows into line with the goals of the Paris Agreement and the European Union's Green Deal, thereby promoting climate-compatible development."

Sustainability as a business opportunity

• Every client is affected by transformation - we offer innovative products and services to support our clients in the best way
• Customers expect sustainable banking - only if we offer credible products and solutions we will sustain
• Digitisation and sustainability go hand in hand - we want to use those synergies

Sustainability has to be approached holistically

• We understand sustainability across all dimensions
• Sustainability affects all segments of our bank operations, product offering, risk management

Sustainability needs to be managed consequently

• Climate and ESG related risks are potential risks for our clients and for us - we identify, monitor and manage these risks consequently
• Customer relationships which are not sharing our core beliefs will be carefully looked at
  

Commerzbank's sustainability strategy follows a holistic view, shaped by ESG building blocks

Our overarching goal is directed by our commitment to meet the global challenges as a responsible partner for sustainable economic and social development.

Strong commitments and partnerships build the foundation of Commerzbank's main target: to become net-zero

Commerzbank considers both perspectives of double materiality in the sustainability strategy

Sustainability is an integral part of Commerzbank - we opt for a strategic, holistic, and long-term approach

Good progress on ESG priorities and consistent plan going forward on Commerzbank's pathway to net-zero

Key Achievements 2023 - 2024

Policy on arms and surveillance
Revised policy on arms and surveillance technology formulates clear exclusions and restrictions.

SBTi validates targets

First German bank to receive a seal of approval from the Science Based Target initiative for our $\mathrm{CO}_{2}$ reduction targets.

Commerzbank joins TNFD

Joining the Taskforce on Nature-related Financial Disclosures sets the basis for reporting on biodiversity.

Commerzbank joins PCAF

For calculating portfolio intensities, we apply the standard from the Partnership for Carbon Accounting Financials.

New position on deforestation

We strengthened and expanded our position on deforestation regarding the sectors of forestry, palm oil, beef and soy.

Majority stake in Aquila Capital

We accelerated our growth in the sustainability business by acquiring 74,9\% of Aquila Capital Investmentgesellschaft.

Outlook

Driving our net-zero strategy
As one of the first banks, we committed in 2021 to becoming a net-zero bank - This commitment is at the heart of our sustainability strategy.

Empowering our customers

We want to continuously enhance our sustainable finance product portfolio with a special focus on green infrastructure and ESG-advisory activities.

Looking into the future

We are building a robust ESG data infrastructure to adjust to growing reporting requirements and keep screening new business opportunities.

Environment

The net-zero commitment is at the heart of Commerzbank's sustainability strategy

Sustainable strategic progress by means of three key performance indicators (KPIs)

Net-zero $\mathrm{CO}_{2}$ emissions in the credit and investment portfolio by 2050

• Paris climate agreement:

Reach net-zero emissions of greenhouse gases by 2050 to limit global warming to $1.5^{\circ} \mathrm{C}$

• Science-Based Targets initiative
• Commitment in September 2020
• Target validation in March 2023
• First results reported as of Dec 2023
  

Volume for sustainable financial products by 2025

1st KPI: Net-zero emissions in the credit and investment portfolio by 2050

Reduction of our financed emissions using science-based target setting

What is SBTi?	- Science-Based Targets initiative - Partnership between Carbon Disclosure Project, UN Global Compact, World Resources Institute and WWF - Defines and promotes best practices for emissions reduction and net-zero targets in line with climate science - As of August 2024, approximately 9,000 companies globally are participating in the Science Based Targets initiative (SBTi), with 5,791 of them having their targets officially approved - Enables scientifically sound $\mathrm{CO}_{2}$ target setting based on latest climate research - Promotes standardisation of target setting through structured and transparent framework - External validation of SBTi targets	September 2020 Commerzbank joined SBTi 2021 Purchase of $\mathrm{CO}_{2}$ data (financed emissions) and portfolio analysis July 2021 Publication of concrete targets for sectors in the ESG framework October 2022 Submission of targets to SBTi March 2023 Validation of targets by SBTi and start of portfolio steering including interim targets for 2030 ... as of December 2023 First reporting on SBTi targets in non-financial reporting as part of Annual Report 2023 and in annex 4 of the disclosure report 2023

$1^{\text {st }}$ KPI: first results on $\mathrm{CO}_{2}$ reduction paths / targets

Asset class ${ }^{1}$	Sectors	$\mathrm{CO}_{2}$ reduction pathways \& 2023 portfolio performance ${ }^{2}$			Utilisation (VE2023)
Consumer loans	Residential mortgage loans	$57 \%$	$\left(1.5^{\circ}\right)$	$\begin{aligned} & 2021: 45.8 \mathrm{~kg} \mathrm{CO}{2} \mathrm{e} / \mathrm{m}^{2} \ & 2023: 44.4 \mathrm{~kg} \mathrm{CO}{2} \mathrm{e} / \mathrm{m}^{2} \ & 2030: 19.8 \mathrm{~kg} \mathrm{CO}_{2} \mathrm{e} / \mathrm{m}^{2} \end{aligned}$	€96.6bn
Project financing/ corporate loans and investments	Electricity generation	$74 \%$	$\left(1.5^{\circ}\right)$	$\begin{aligned} & 2021: 97.3 \mathrm{~g} \mathrm{CO}{2} \mathrm{e} / \mathrm{kWh} \ & 2023: 64.9 \mathrm{~g} \mathrm{CO}{2} \mathrm{e} / \mathrm{kWh} \ & 2030: 25.6 \mathrm{~g} \mathrm{CO}_{2} \mathrm{e} / \mathrm{kWh} \end{aligned}$	€8.5bn
Corporate loans	Commercial real estate, commercial use	$67 \%$	$\left(1.5^{\circ}\right)$	$\begin{aligned} & 2021: 87.4 \mathrm{~kg} \mathrm{CO}{2} \mathrm{e} / \mathrm{m}^{2} \ & 2023: 89.0 \mathrm{~kg} \mathrm{CO}{2} \mathrm{e} / \mathrm{m}^{2} \ & 2030: 28.4 \mathrm{~kg} \mathrm{CO}_{2} \mathrm{e} / \mathrm{m}^{2} \end{aligned}$	€8.5bn
	Commercial real estate, residential use	$57 \%$	$\left(1.5^{\circ}\right)$	$\begin{aligned} & 2021: 36.6 \mathrm{~kg} \mathrm{CO}{2} \mathrm{e} / \mathrm{m}^{2} \ & 2023: 36.9 \mathrm{~kg} \mathrm{CO}{2} \mathrm{e} / \mathrm{m}^{2} \ & 2030: 15.8 \mathrm{~kg} \mathrm{CO}_{2} \mathrm{e} / \mathrm{m}^{2} \end{aligned}$
Corporate loans and investments	Iron and steel	$36 \%$	$\left(1.5^{\circ}\right)$	$\begin{aligned} & 2021: 1.4 \mathrm{t} \mathrm{CO}{2} \mathrm{e} / \mathrm{t} \text { steel } \ & 2023: 1.2 \mathrm{t} \mathrm{CO}{2} \mathrm{e} / \mathrm{t} \text { steel } \ & 2030: 0.9 \mathrm{t} \mathrm{CO}_{2} \mathrm{e} \text { t steel } \end{aligned}$	€0.2bn
	Cement	$23 \%$	$\left(1.5^{\circ}\right)$	$\begin{aligned} & 2021: 0.7 \mathrm{t} \mathrm{CO}{2} \mathrm{e} / \mathrm{t} \text { cement } \ & 2023: 0.8 \mathrm{t} \mathrm{CO}{2} \mathrm{e} / \mathrm{t} \text { cement } \ & 2030: 0.5 \mathrm{t} \mathrm{CO}_{2} \mathrm{e} / \mathrm{t} \text { cement } \end{aligned}$	€0.1bn
	Automotive manufacturing	$31 \%$	$\left(1.8^{\circ}\right)$	$\begin{aligned} & 2021: 172 \mathrm{~g} \mathrm{CO}{2} \mathrm{e} / \mathrm{pkm} \ & 2023: 148 \mathrm{~g} \mathrm{CO}{2} \mathrm{e} / \mathrm{pkm} \ & 2030: 118 \mathrm{~g} \mathrm{CO}_{2} \mathrm{e} \mathrm{pkm} \end{aligned}$	€0.3bn
	Aviation ${ }^{3}$	$22 \%$	$\left(1.8^{\circ}\right)$	$\begin{aligned} & 2021: 796 \mathrm{~g} \mathrm{CO}{2} \mathrm{e} / \mathrm{kkm} \ & 2023: 785 \mathrm{~g} \mathrm{CO}{2} \mathrm{e} / \mathrm{kkm} \ & 2030: 620 \mathrm{~g} \mathrm{CO}_{2} \mathrm{e} / \mathrm{kkm} \end{aligned}$	€1.2bn

Portfolio development positive in various

sectors

• Electricity generation: Positive portfolio performance in relation to the target pathway by the end of 2023, mainly due to the Bank's strategic focus on project financing in the area of renewable energies
• Automobile Manufacturing, Iron and Steel: Portfolios show satisfactory progress in reducing emission intensities

Real estate sectors remain challenging and require political focus

• Potential to transform long-term real estate financing is limited: Improvement expected through modernization and sustainable energy use and dependent from new business inflow
• External environment currently not favourable (e.g. state support, availability of workers and construction costs)

[^0]
[^0]: ${ }^{1}$ Customers in SDA sectors without emissions data are included in the Temperature Score, complying with SBTi's minimum coverage requirements
${ }^{2} \mathrm{CO}_{2}$ reduction pathways are based on year-end, with 2021 as base and 2030 as target year. CBK moved to PCAF standard in 2023 and thus re-calculated base year and target intensities; confirmation from SBTi for updated targets outstanding
${ }^{3}$ The SDA target for aviation is not yet part of the current SBTi validation, as its methodology is still intended for the real economy and not yet approved for financial institutions
Significant progress in setting up of targets, calculation and steering made - still, the achievement of the 2030 SBTi targets is challenging and dependent on external conditions. We continue to accompany and facilitate the transformation in close cooperation with our clients.

2nd KPI: €300bn in volume for sustainable financial products by 2025

Sustainable products
(€bn)

2nd KPI insight: Development of Green Infrastructure Finance portfolio

$2^{\text {nd }}$ KPI insight: Commerzbank AG has 3 green bonds outstanding with a total volume of $€ 1.6 \mathrm{bn}$

Commerzbank Green Bond Framework ${ }^{1}$

An amount equivalent to the net proceeds will be used exclusively to (re)finance eligible renewable energy loans. The assigned green assets are subject to an annual review by Sustainalytics.

Assigned assets for Green Bonds ${ }^{2}$
Allocation by country and technology

$3{ }^{\text {rd }} \mathrm{KPI}$ : Net-zero $\mathrm{CO}_{2}$ emissions in own banking operations including a climate-neutral supplier portfolio by 2040

Gross $\mathrm{CO}_{2}$ emissions Commerzbank AG
(Scope 1, 2 and 3 emissions, excl. financed emissions and subsidiaries |'000 tCO2)

Since 2015 Commerzbank AG is operating climate-neutrally in Germany and since 2021 on a worldwide basis

...and of course: Biodiversity with increasing relevance for Commerzbank's banking operations and customer portfolio

"Save the Bank"
What risks and dependencies incur for the bank? "Save the World"
What are the negative and positive effects of our loans?

Analysis of the impact, risks, dependencies and opportunities of our credit portfolio on biodiversity within the framework of a materiality analysis, using the tool ENCORE, as well as a qualitative scenario analysis based on the TNFD narrative

Disclosure of the impacts, risks, dependencies and opportunities regarding biodiversity in the company's own banking operations and the portfolio in accordance with the requirements of TNFD from the reporting year 2023 onwards

Member of Biodiversity in Good Company e.V. for cross-sector exchange of best practices regarding the protection of biodiversity

Introduction of training courses and factsheets on biodiversity for all employees - in particular in sales
Deep-dive analysis of impact \& risk drivers on the topic of water (scarcity, pollution etc.)

Private public partnership on the measurability of biodiversity among others with Wageningen University \& Research and Deloitte

Extending materiality analysis with location data, country risks and quantitative scenarios with focus on power portfolio and water risks

Financial of projects for the conservation of nature and biodiversity through discounted loans

Exclusion of defined activities for the protection of biodiversity, for example in the areas of deforestation and mining

Analysis of our own banking operations with the WWF Biodiversity \& Water Risk filters

0

Social

Human rights as a basis for Commerzbank's operations

High commitment within the UN Global Compact

United Nations

Global Compact

Principle 1: Companies should support and respect the protection of internationally proclaimed human rights

Principle 2: Companies should ensure that they are not complicit in human rights abuses

Commerzbank joined the UN Global Compact in 2006. Since then, as part of our sustainability reporting, we have issued annual reports on the progress we have made in implementing and integrating the objectives of the compact in the processes and structures of the bank

Commerzbank has thus committed itself to the following goals:

• supporting and respecting the protection of the internationally proclaimed human rights
• ensuring not to be complicit in human rights abuses
• safeguarding the freedom of association and the effective recognition of the right to collective bargaining
• standing up for the elimination of all forms of forced labour
• standing up for the abolition of child labour and
• promoting the elimination of discrimination in regard to employment and occupation

Diversity at the center of our organisational culture

Having a diverse and inclusive organisation is integral to the success of Commerzbank ${ }^{1}$

Employee demographics

• The proportion of women in Commerzbank Group is 52.5\%
• The average age in Commerzbank is 46.1 years ${ }^{2}$
• $24 \%$ of the employees belong to the age group between 40 to 49 years ${ }^{2}$
• The apprenticeship ratio (as of 12/2023) is $4.2 \%{ }^{3}$
• Part-time working model $28.3 \%$

International employees

• 1,236 non-German employees from 102 nations2 in Commerzbank AG in Germany
• Employees from 127 nations work in Commerzbank Group
• The largest foreign locations are Warschau (mBank/CERI), Prague, Lódz, Sofia,
  London, Malaysia (CTS), Singapore, New York

Disabilities

• With 1,546 jobs in Commerzbank AG filled by severely disabled employees
• $5.95 \%$ of all jobs at Commerzbank AG (exceeded requirement of $5 \%$ for the sixth year in a row)

Women in management positions

• The target is to staff $40 \%$ of all management positions with women until end of 2030
• The female share on the bank's supervisory board is $50 \%$
• Two women are on the six-member executive board
  

Development of women in management positions (\%)

Diversity has a long history at the bank and still enjoys high priority today

1989

2023

over 30 years of diversity

First diversity initiative:
'Women in modern banking' initiative in 1989

Action plan:

First bank with action plan for inclusion of people with disabilities

Charter of diversity:

We are one of the first members of the Charta in Germany

Governance Anchoring:
Establishment of a global council structure with board commitment

2024 and onwards Our plans for the future

Women in management positions:
We aim for a staffing quota of $40 \%$ until 2030

Diverse customer groups:
Focusing on digital accessibility and fulfilling the voluntary action plan inclusion 2.0

Leadership training: Anchoring D\&I in the modern leadership of today and tomorrow

[^0]
[^0]: 1) Audit Beruf und Familie, Total E-Quality, Brigitte Award, Max-Spohr-Preis and others

Wide range of lived diversity at Commerzbank

Diversity structure

Our diversity structure ensures an overarching approach with board commitment: Sabine Minarsky (CHRO) as head of Global Diversity Council

Networks

We support our employees in the best way

Flexible working

hours

• Option to manage the working time individually through various part-time models (including shared leadership models and sabbatical leave offers)
• Provide our employees with the opportunity to bring their working hours in line with their current life situation
• Concepts like our "keep in touch" program and "return guarantee" model facilitate the return to work after parental leave
  

Childcare

• Offer of $\mathbf{2 1 0}$ childcare places for entire Germany and childcare in exceptional cases \& vacational childcare at 18 locations across Germany - with 1.684 usages in 2023
• Lectures and workshops on the subject of children's development and education
• 341 use of virtual childcare during 2023
  

162 eldercare-counseling in 2023, e.g. in need of care for short-term, day care and long-term care places as well as regarding all questions about assisted living for relatives

• Virtual Workshops regarding eldercare, such as Preventive Powers of Attorney \& various other Formats
  ... and numerous events, awareness formats, remembeгence days, e.g. diversity day, pride month, handling of social origin or learning journeys of our learning portal cllX, e.g. unconscious bias, inclusive leadership

We invest in our employee development

With our elaborated and refined Strategy 2027, our focus is on the employees. Key areas are the development of our people, qualification measures and continuous learning. We are working to strengthen a diverse and team-oriented corporate culture. In this way, we are creating perspectives for people in our company with high expectations.

Wide range of qualification measures

• Through our platform cliX, all employees at Commerzbank AG have free access to LinkedIn Learning with over 450,000 videos
• Every individual in the bank is able to invest one workday (8 hours) every quarter to learn interest-based and self-determined content (Our motto: "Learn what you want")
• We offer programs for professional, project and management careers, for developing personal and non-professional skills that are particularly relevant for taking on new functions and tasks at the next higher professional and management level (duration approx. 9-12 months)
• The development of intercultural competences, promotion of gender diversity etc., are part of our corporate philosophy

More offers for young people

"Education mentor programme" business@school

• Employees in management positions visit schools and give lectures to young people

Umweltpraktikum

• For more than 30 years, the bank has been financing internships in national parks and other high-protection areas. Interns ${ }^{1}$ deals with the topics of nature reserve, climate and biodiversity

Young talent programs

• Various apprentice-ships
• Trainee programs
• Study circle
• Others ${ }^{2}$

[^0]

[^0]: 1) More than 1,800 interns so far

$\stackrel{0}{0}$

Governance

Comprehensive governance structure established sustainability as a top priority anchored holistically at all levels in the bank

Establishment of multiple committees at management level (Group Sustainability Board, Sustainability Advisory Board, ESG Committee)

ESG is successively anchored in Commerzbank's policies in consultation with the relevant units

Holistic management by the central division "Group Sustainability Management" with reporting line to the CEO

Bank-wide information and exchange formats (such as Sustainability Working Group)

Projects in segments and staff functions within the scope of the Group-wide programme Sustainability $360^{\circ}$

Group Sustainability Board and ESG Committee demonstrate top-management commitment

Executive level:
Group Sustainability Board (GSB)

• With the GSB, the cross-cutting issue of sustainability is firmly anchored in the bank's organisation
• The GSB defines the bank's strategic sustainability goals and monitors the measures taken to implement and manage them
  

Control level:

ESG Committee of the Supervisory Board

• The Supervisory Board advises and monitors the Board of Managing Directors regarding sustainability issues
• To reflect the increasing importance of sustainability for the bank, the Supervisory Board established the Environment, Social and Governance (ESG) Committee in 2022
  

Group-wide programme Sustainability $360^{\circ}$ implements the sustainability strategy throughout Commerzbank

The customer segments, risk management and numerous other relevant Group divisions are involved in the Group-wide initiative, as is Commerz Real

The program forms a bracket around all sustainability activities and ensures a close linkage of overarching topics, coordinated action and stringent tracking

A steering committee consisting of members of the top management of the relevant divisions monitors progress every two months. The status of the programme is regularly reported to the Board of Managing Directors

Regulation and voluntary commitments set the framework for Commerzbank's sustainable transformation

Legal requirements ${ }^{1}$

EU-Taxonomy

• Framework for climate and environmentally friendly activities and investments

Industry commitments ${ }^{1}$

Principles for Responsible Banking (PRB)

• Framework to ensuring that signatory Bank's strategy and practice align with SDGs and Paris Climate Agreement

Supply Chain Due Diligence Act

• Law on the obligation of companies to monitor human rights and environmental risks in their supply chains

Taskforce on Nature-related Financial Disclosures (TNFD)

• Disclosure of nature-related risks and opportunities

Corporate Sustainability Reporting Directive (CSRD)

• (Yet mandatory) communication of the company's social and environmental impacts to stakeholders

Science Based Targets initiative (SBTI)

• The SBTI is committed to reducing greenhouse gases on the basis of scientifically calculated targets.

Commerzbank's sustainability efforts are also reflected in our ESG ratings

MSCI

ESG Rating

Double A rated in the upper part of the MSCI ESG rating scale

Above industry average positions in terms of privacy \& data security, human capital development and financing environmental impact

SUSTAINALYTICS

ESG Risk Rating

Commerzbank is at medium risk of experiencing material financial impacts from ESG factors (score of 24.4 / 100 with 0 being the best)

ISS ESG $\triangleright$

ESG Corporate Rating
Rated in the ISS ESG prime segment and within the top 20\% of the industry group

Excellent ratings especially in the categories staff \& suppliers, environmental management, corporate governance and business ethics

ISS>

ESG QualityScores

Commerzbank assigned with low ESG risks by ISS ESG QualityScores

• Social QualityScore 2,
• Governance QualityScore 3,
• Environmental QualityScore 4

1

14cDp

Climate Change Rating
Rated B, which indicates that Commerzbank is taking coordinated action on climate issues

Excellent ratings and above industry average positions particularly in the categories emissions reduction initiatives and low carbon products, governance as well as risk management processes

Client business sustainability

Private and Small-Business Customers (PSBC)
Corporate Clients (CC)

We continuously expand the sustainability-related offering for Private and Small-Business Customers

Financing solutions for sustainable purposes

• In Q2/2024 we achieved a volume for sustainability-related loan products of $€ 12$ bn - including green mortgages ${ }^{1}$ and KFW programmes
• Since June 2024 we offer discounts on our mortgages for further energy efficiency classes (B\&C) and increased the discount for A+
• With the KlimaDarlehen we support small business clients to finance sustainable purposes in line with our ESG Framework

Saving resources by digitalization

• CO2-savings by reducing paper and optimizing physical mailing operations
• Continuous extension of digital channels and communication
• Continuous increase of the usage of digital banking activities by our customers

Building sustainable services \& ecosystems

• Offering an ecosystem beyond core banking services in order to support the sustainable transformation of small business clients:
• Impact Solutions platform: offering an emissions calculator, access to third party service providers \& carbon offsetting solutions
• Global Changer: a software for decarbonisation
• Topic-related networking events
• Sustainability is part of advisory and consultation processes to reflect on sustainability-related considerations

A broad portfolio of asset management solutions ensures that various investment requirements can be met

COMMERZ REAL

NIXDORF

KADITAL AC

Allianz (a)

Global Insurance VMM

• For more than a decade, the successfully established product line "Sustainable Asset Management" follows an ESG strategy, incorporating environmental and social features as well as good corporate governance
• Renewable energies fund "klimaVest" and real estate fund "hauslnvest" as sustainable investment solutions
• Individual agreements on investment objectives with customer-specific ESG criteria
• Broad offering of investment opportunities that focuses on driving global decarbonisation, particularly in the areas of clean energy, green infrastructure and sustainable real estate
• Providing our customer access to impact investment solutions, including diverse innovative asset classes such as forestry, agriculture and life sciences
• Extension of the sustainability-related investment offering with partners to achieve a broad spectrum of investment opportunities (AGI as base investment with targeted solutions by e.g. Blackrock, Flossbach von Storch and Fidelity)
  
• Support of initiatives by Bergwaldprojekt e. V. in context of the sustainable asset management offering
• To date, Commerzbank has contributed to the reforestation of 1,152,492 square meters of forest area throughout Germany through various projects
• Since 2024, the restoration of peatlands has become the primary focus

Supporting our Corporate Clients in their transition

Bespoke transformation advisory \& product solutions

We support our customers' sustainable transformation

... with transformation advisory und sustainable product solutions ${ }^{1}$

Transformation Advisory	Sustainability Bonds \& Sustainable Linked Bonds	Sustainable Loans \& Sustainable Linked Loans	Green Infrastructure Finance	Public Subsidy Programmes
			Carbon Emission Trading	Sustainable Investments

Additional information

ESG framework - further links - contacts

Commerzbank's ESG framework offers a structured overview of the sustainability approach and activities

Compliance with exclusion criteria is compulsory to be included into transformation finance portfolio

Three-step assessment scheme makes definitions of sustainable finance transparent

Assessment scheme sustainable finance

e.g. deep-dive step 1: sustainable use of proceeds

• List of criteria is reviewed and updated on an annual basis with support from Sustainalytics to ensure it reflects current market best practice
• Based on the EU Taxonomy and the United Nations' Sustainable Development Goals

Sustainable portfolio management based on SBTi-

validated reduction paths for $\mathrm{CO}_{2}$-intensive sectors

Interim targets for seven $\mathrm{CO}_{2}$-intensive sectors incl. a choice of diagrams

Power generation
$-74 \%$
Iron \& steel
$-37 \%$
Cement
$-20 \%$
Automotive manufacturing $-32 \%$
Aviation
$-22 \%$
Resident. mortgages
$-57 \%$
Commercial real estate
Commercial use
$-68 \%$
Residential use

Power generation: emission intensity and target
- Global Target Path SBT: Net Zero
Scenario ( $1.5^{\circ} \mathrm{C}$ )
$\leftarrow$ Commerzbank Target Path ( $1.5^{\circ} \mathrm{C}$ )
- We will reduce $\mathrm{CO}_{2}$ emissions in
$\mathrm{gCO}_{2} / \mathrm{kWh}$ in the power generation
$\square$
$\square$ (from a 2021 baseline).
- We will reduce $\mathrm{CO}_{2}$ emissions in
kgCO $_{2} / \mathrm{m}^{3}$ in the residential
mortgages portfolio by at least
$57 \%$ by 2030 (derived from a 2021
baseline).
- Global Target Path SBT: Net Zero
Scenario ( $1.5^{\circ} \mathrm{C}$ )
- Commerzbank Target Path ( $1.5^{\circ} \mathrm{C}$ )
- Single-family houses Germany
(2018)
- Multi-family houses Germany
(2018)
- We will reduce $\mathrm{CO}_{2}$ emissions in
kgCO $_{2} / \mathrm{m}^{3}$ in the residential
mortgages portfolio by at least
$57 \%$ by 2030 (derived from a 2021
baseline).
- Global Target Path SBT: Net Zero
Scenario ( $1.5^{\circ} \mathrm{C}$ )
- Commerzbank Target Path ( $1.5^{\circ} \mathrm{C}$ )
- Single-family houses Germany
(2018)
- Multi-family houses Germany
(2018)

In addition to the ESG framework, ESG information is regularly published in various formats...

Quarterly results presentation

• Sustainability topics as a part of quarterly Investor Relations disclosure
  

Non-financial report \& GRI

• NFR is part of the Group's Annual Report
  

Sustainability dialogue

• Members of the Board of Managing Directors talk about sustainable issues
  

Sustainability portal

• Comprehensive portal including all sustainability initiatives and policies
  

Link to Sustainability Portal
Link to Climate Neutrality
sustainability@commerzbank.com
Factsheets

• Sustainability factsheets updated regularly
  

Link to Factsheets

Clients portal

• The portal provides our customers with current ESG issues
  

For more information, please contact our IR team

$\square$ ir@commerzbank.com / internet: investor-relations.commerzbank.com

Financial calendar 2024 / 2025	6 November 2024	13 February 2025	9 May 2025	6 August 2025
	Q3 2024 results	Q4 2024 results	Q1 2025 results	Q2 2025 results

Disclaimer

This presentation contains forward-looking statements. Forwardlooking statements are statements that are not historical facts; they include, inter alia, statements about Commerzbank's beliefs and expectations and the assumptions underlying them. These statements are based on plans, estimates, projections and targets as they are currently available to the management of Commerzbank. Forward-looking statements therefore speak only as of the date they are made, and Commerzbank undertakes no obligation to update any of them in light of new information or future events. By their very nature, forward-looking statements involve risks and uncertainties. A number of important factors could therefore cause actual results to differ materially from those contained in any forward-looking statement. Such factors include, among others, the conditions in the financial markets in Germany, in Europe, in the United States and elsewhere from which Commerzbank derives a substantial portion of its revenues and in which it hold a substantial portion of its assets, the development of asset prices and market volatility, potential defaults of borrowers or trading counterparties, the implementation of its strategic initiatives and the reliability of its risk management policies.

In addition, this presentation contains financial and other information which has been derived from publicly available information disclosed by persons other than Commerzbank ("external data"). In particular, external data has been derived from industry and customer-related data and other calculations taken or derived from industry reports published by third parties, market research reports and commercial publications. Commercial publications generally state that the information they contain has originated from sources assumed to be reliable, but that the accuracy and completeness of such information is not guaranteed and that the calculations contained therein are based on a series of assumptions. The external data has not been independently verified by Commerzbank. Therefore, Commerzbank cannot assume any responsibility for the accuracy of the external data taken or derived from public sources.

Copies of this document are available upon request or can be downloaded from
ESG Presentations - Commerzbank AG