Commerce Bancshares announces changes to company's board of directors

St. Louis, MO - May 17, 2022 - Commerce Bancshares has added four new directors to its board and has announced the retirement of three long-standingdirectors. The total number of directors has increased from 12 to 13.

In conjunction with provisions of the company's bylaws related to mandatory retirement age, three directors stepped down from the board. They are:

Andrew C. Taylor, executive chairman, Enterprise Holdings, Inc., a director since February of 1990, who retired effective April 20, 2022.

Thomas Grant, director, SelectQuote, a director since June of 1983, who retired effective May 13, 2022.

John R. Capps, vice president, Weiss Toyota, a director since January of 2000, who also retired effective May 13, 2022.

The company has also added four new directors to its board. They are:

June McAllister Fowler - retired senior vice president, communications, marketing and public affairs, BJC HealthCare. In her role, Fowler led internal, external and public policy communications and government and community relations on behalf of the healthcare system. Fowler serves as the board chair of Cortex Innovation Community and KIPP St. Louis Public Charter School. She is also on the boards of Citizens for Modern Transit, Lambert St. Louis International Airport and the Muny Theater Company. Fowler was elected to the board at this year's annual shareholders meeting. She will join the Compensation and Human Resources Committee.

Christine B. Taylor - president and chief executive officer, Enterprise Holdings, Inc. Taylor serves on the corporate board of Enterprise Holdings and is one of the highest-ranking women among the world's largest travel companies and one of the top female CEOs across all industries, based on company revenue. She serves on the board of Crawford Group and several St. Louis-area boards and committees, including the Crawford Taylor Foundation. Taylor was elected to the board at this year's annual shareholders meeting. She will serve on the Governance/Directors Committee.

Blackford (Beau) F. Brauer - president, Hunter Engineering Company, a manufacturer of capital equipment for the automotive industry. Brauer serves as a director of the Donald Danforth Plant Science Center and has been a member of the Commerce Bank St. Louis Advisory Board since 2009. Brauer was appointed by the board to fill a vacant seat. He will serve on the Audit and Risk Committee.

W. Kyle Chapman - president, Barry-Wehmiller Group, Inc. Chapman leads the global organization that manufactures capital equipment and provides consulting services for a broad set of industries (e.g., food & beverage, life sciences, healthcare, general industrial), and was the co-founder of its hybrid equity firm BW Forsyth Partners which launched in 2009. Chapman serves on Barry-Wehmiller's board of directors and is involved with several civic organizations in the bank's core footprint. Chapman was appointed by the board to fill a vacant seat. He will join the Compensation and Human Resources Committee.

"Our company's board of directors plays an indispensable role in providing governance and strategic insight to our management team at Commerce. Our three retiring directors have given the company steady counsel and invaluable support over many years, and we thank them for the deep involvement and stewardship of our company," said John Kemper, president and chief executive officer, Commerce Bancshares, Inc. "Commerce is fortunate to have attracted four talented new directors who bring a diversity of experience and background as well as deep industry and functional knowledge. Their expertise and perspective will be critical to our company's future growth.

A full roster and biographies of Commerce Bancshares' Board of Directors can be found in the investor relations section of www.commercebank.com.

About Commerce Bank

With $35 billion in assets¹, Commerce Bancshares, Inc. (NASDAQ: CBSH) is a registered bank holding company offering a full line of banking services, including payment solutions, investment management and securities brokerage. Commerce Bank, a subsidiary of Commerce Bancshares, Inc., leverages more than 155 years of proven strength and experience to help individuals and businesses solve financial challenges. In addition to offering payment solutions across the U.S., Commerce Bank currently operates full-service banking facilities across the Midwest including the St. Louis and Kansas City metropolitan areas, Springfield, Central Missouri, Central Illinois, Wichita, Tulsa, Oklahoma City, and Denver. It also maintains commercial offices in Dallas, Houston, Cincinnati, Nashville, Des Moines, Indianapolis, and Grand Rapids. Commerce delivers high-touch service and sophisticated financial solutions at regional branches, commercial offices, ATMs, online, mobile and through a 24/7 customer service line. Learn more at www.commercebank.com.

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