Commerzbank Aktiengesellschaft / DE000CBK1001

Notification of Major Holdings

1. Details of issuer

Name:	Commerzbank Aktiengesellschaft
Street:	Kaiserstraße 16
Postal code:	60311
City:	Frankfurt am Main Germany
Legal Entity Identifier (LEI):	851WYGNLUQLFZBSYGB56

2. Reason for notification

X	Acquisition/disposal of shares with voting rights
X	Acquisition/disposal of instruments
	Change of breakdown of voting rights
	Other reason:

3. Details of person subject to the notification obligation

Legal entity: Morgan Stanley City of registered office, country: Wilmington, Delaware, United States of America (USA)

4. Names of shareholder(s)
holding directly 3% or more voting rights, if different from 3.

5. Date on which threshold was crossed or reached:

02 Sep 2025

6. Total positions

	% of voting rights attached to shares (total of 7.a.)	% of voting rights through instruments (total of 7.b.1 + 7.b.2)	Total of both in % (7.a. + 7.b.)	Total number of voting rights pursuant to Sec. 41 WpHG
New	0.17 %	4.71 %	4.87 %	1127496195
Previous notification	0.31 %	4.88 %	5.19 %	/

7. Details on total positions
a. Voting rights attached to shares (Sec. 33, 34 WpHG)

ISIN	Absolute		In %
	Direct (Sec. 33 WpHG)	Indirect (Sec. 34 WpHG)	Direct (Sec. 33 WpHG)	Indirect (Sec. 34 WpHG)
DE000CBK1001	0	1869229	0 %	0.17 %
Total	1869229		0.17 %

b.1. Instruments according to Sec. 38 (1) no. 1 WpHG

Type of instrument	Expiration or maturity date	Exercise or conversion period	Voting rights absolute	Voting rights in %
Equity Call Option	From 19.09.2025 to 18.12.2026	at any time	3148129	0.28 %
Right of recall over securities lending agreements	at any time	at any time	6208098	0.55 %
		Total	9356227	0.83 %

b.2. Instruments according to Sec. 38 (1) no. 2 WpHG

Type of instrument	Expiration or maturity date	Exercise or conversion period	Cash or physical settlement	Voting rights absolute	Voting rights in %
Cash Settled Futures	19.09.2025	at any time	Cash	1710000	0.15 %
Equity Put Option	From 19.12.2025 to 21.12.2029	at any time	Physical	41732800	3.7 %
Retail Structured Product	From 06.11.2074 to 28.08.2075	at any time	Cash	3132	0 %
Equity Swap	From 30.09.2025 to 14.06.2027	at any time	Cash	235009	0.02 %
Compound Option	From 19.12.2025 to 18.12.2026	at any time	Cash	23756	0 %
Retail Structured Product - Note	From 17.06.2030 to 09.09.2030	at any time	Cash	6712	0 %
Equity Put Option*	19.09.2025	at any time	Physical	500000	0.04 %
			Total	43711409	3.88 %

8. Information in relation to the person subject to the notification obligation

	Person subject to the notification obligation is not controlled nor does it control any other undertaking(s) that directly or indirectly hold(s) an interest in the (underlying) issuer (1.).
X	Full chain of controlled undertakings starting with the ultimate controlling natural person or legal entity:

Name	% of voting rights (if at least 3% or more)	% of voting rights through instruments (if at least 5% or more)	Total of both (if at least 5% or more)
Morgan Stanley	%	%	%
Morgan Stanley Capital Management, LLC	%	%	%
Morgan Stanley Domestic Holdings, LLC	%	%	%
Morgan Stanley Capital Services LLC	%	%	%
-	%	%	%
Morgan Stanley	%	%	%
Morgan Stanley Capital Management, LLC	%	%	%
Morgan Stanley & Co. LLC	%	%	%
-	%	%	%
Morgan Stanley	%	%	%
Morgan Stanley International Holdings Inc.	%	%	%
Morgan Stanley International Limited	%	%	%
Morgan Stanley Investments (UK)	%	%	%
Morgan Stanley & Co. International plc	%	%	%
-	%	%	%
Morgan Stanley	%	%	%
Morgan Stanley Capital Management, LLC	%	%	%
Morgan Stanley & Co. LLC	%	%	%
Prime Dealer Services Corp.	%	%	%
-	%	%	%
Morgan Stanley	%	%	%
Morgan Stanley Capital Management, LLC	%	%	%
Morgan Stanley Smith Barney LLC	%	%	%

9. In case of proxy voting according to Sec. 34 para. 3 WpHG
(only in case of attribution of voting rights in accordance with Sec. 34 para. 1 sent. 1 No. 6 WpHG)

Date of general meeting:
Holding total positions after general meeting (6.) after annual general meeting:

Proportion of voting rights	Proportion of instruments	Total of both
%	%	%

10. Other explanatory remarks:

Regarding sections 7.b.2, the Equity Put Options marked with * were not aggregated as they relate to collar transactions (Call & Put) under which, on a consolidated basis, Morgan Stanley can acquire 0.04% of the voting rights in COMMERZBANK Aktiengesellschaft (or receive an equivalent amount in cash) only once.

Date

08 Sep 2025