CRZBY Commerzbank Ag (PK)

Pre-Stabilisation notice

24th March 2015

Not for distribution, directly or indirectly, in or into the United States or
any jurisdiction in which such distribution would be unlawful.

Commerzbank AG

€ Benchmark due 2018

Stabilisation Notice

Commerzbank AG (contact: Christian Guentzel; telephone: +4969 136 42996) hereby
announces that the Stabilising Manager named below may stabilise the offer of
the following securities in accordance with Commission Regulation (EC) No. 2273
/2003 implementing the Market Abuse Directive (2003/6/EC).

The security to be stabilised:

Issuer:                             Commerzbank AG

Guarantor (if any):                 none

ISIN                                tbc

Aggregate nominal amount:           Benchmark size

Description:                        Senior, unsecured, unsubordinated Notes due
                                    2018

Offer price:                        tbc

Other offer terms:                  Fixed rate benchmark, settlement 31st Mar
                                    2015

Stabilisation:

Stabilising Manager:                Commerzbank Aktiengesellschaft

Stabilisation period commences      24th March 2015

Stabilisation period expected to    23rd April 2015
end on:

Existence, maximum size and         The Stabilising Manager may over-allot the
conditions of use of over-allotment securities to the extent permitted in
facility.                           accordance with applicable law.

In connection with the offer of the above securities, the Stabilising Manager
may over-allot the securities or effect transactions with a view to supporting
the market price of the securities at a level higher than that which might
otherwise prevail. However, there is no assurance that the Stabilising Manager
will take any stabilisation action and any stabilisation action, if begun, may
be ended at any time Any stabilisation action or over-allotment shall be
conducted in accordance with all

applicable laws and rules.

This announcement is for information purposes only and does not constitute an
invitation or offer to underwrite, subscribe for or otherwise acquire or
dispose of any securities of the Issuer in any jurisdiction.

This announcement is not for distribution, directly or indirectly, in or into
the United States or any other jurisdiction in which such distribution would be
unlawful.

END