#1CIBC CIBC Investor Presentation May 27, 2021#2Forward-Looking Statements A NOTE ABOUT FORWARD-LOOKING STATEMENTS: From time to time, we make written or oral forward-looking statements within the meaning of certain securities laws, including in this report, in other filings with Canadian securities regulators or the SEC and in other communications. All such statements are made pursuant to the "safe harbour" provisions of, and are intended to be forward-looking statements under applicable Canadian and U.S. securities legislation, including the U.S. Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements made in the "Financial performance overview - Economic outlook", "Financial performance overview - Significant events", "Financial performance overview Financial results review", "Financial performance overview - Review of quarterly financial information", "Financial condition - Capital management”, “Management of risk - Risk overview", "Management of risk - Top and emerging risks", "Management of risk - Credit risk", "Management of risk - Market risk", "Management of risk - Liquidity risk", "Accounting and control matters - Critical accounting policies and estimates", "Accounting and control matters - Accounting developments", and "Accounting and control matters - Other regulatory developments" sections of this report and other statements about our operations, business lines, financial condition, risk management, priorities, targets, ongoing objectives, strategies, the regulatory environment in which we operate and outlook for calendar year 2021 and subsequent periods. Forward-looking statements are typically identified by the words "believe", "expect", "anticipate", "intend", "estimate", "forecast”, “target”, “objective” and other similar expressions or future or conditional verbs such as "will", "should", "would" and "could". By their nature, these statements require us to make assumptions, including the economic assumptions set out in the "Financial performance overview - Economic outlook" section of this report, and are subject to inherent risks and uncertainties that may be general or specific. Given the continuing impact of the coronavirus (COVID-19) pandemic on the global economy, financial markets, and our business, results of operations, reputation and financial condition and continued pressure on oil prices, there is inherently more uncertainty associated with our assumptions as compared to prior periods. A variety of factors, many of which are beyond our control, affect our operations, performance and results, and could cause actual results to differ materially from the expectations expressed in any of our forward-looking statements. These factors include: the occurrence, continuance or intensification of public health emergencies, such as the COVID-19 pandemic, and any related government policies and actions; credit, market, liquidity, strategic, insurance, operational, reputation, conduct and legal, regulatory and environmental risk; currency value and interest rate fluctuations, including as a result of market and oil price volatility; the effectiveness and adequacy of our risk management and valuation models and processes; legislative or regulatory developments in the jurisdictions where we operate, including the Organisation for Economic Co-operation and Development Common Reporting Standard, and regulatory reforms in the United Kingdom and Europe, the Basel Committee on Banking Supervision's global standards for capital and liquidity reform, and those relating to bank recapitalization legislation and the payments system in Canada; amendments to, and interpretations of, risk-based capital guidelines and reporting instructions, and interest rate and liquidity regulatory guidance; the resolution of legal and regulatory proceedings and related matters; the effect of changes to accounting standards, rules and interpretations; changes in our estimates of reserves and allowances; changes in tax laws; changes to our credit ratings; political conditions and developments, including changes relating to economic or trade matters; the possible effect on our business of international conflicts and terrorism; natural disasters, disruptions to public infrastructure and other catastrophic events; reliance on third parties to provide components of our business infrastructure; potential disruptions to our information technology systems and services; increasing cyber security risks which may include theft or disclosure of assets, unauthorized access to sensitive information, or operational disruption; social media risk; losses incurred as a result of internal or external fraud; anti-money laundering; the accuracy and completeness of information provided to us concerning clients and counterparties; the failure of third parties to comply with their obligations to us and our affiliates or associates; intensifying competition from established competitors and new entrants in the financial services industry including through internet and mobile banking; technological change; global capital market activity; changes in monetary and economic policy; general business and economic conditions worldwide, as well as in Canada, the U.S. and other countries where we have operations, including increasing Canadian household debt levels and global credit risks; our success in developing and introducing new products and services, expanding existing distribution channels, developing new distribution channels and realizing increased revenue from these channels; changes in client spending and saving habits; our ability to attract and retain key employees and executives; our ability to successfully execute our strategies and complete and integrate acquisitions and joint ventures; the risk that expected benefits of an acquisition, merger or divestiture will not be realized within the expected time frame or at all; and our ability to anticipate and manage the risks associated with these factors. This list is not exhaustive of the factors that may affect any of our forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on our forward-looking statements. Any forward-looking statements contained in this report represent the views of management only as of the date hereof and are presented for the purpose of assisting our shareholders and financial analysts in understanding our financial position, objectives and priorities and anticipated financial performance as at and for the periods ended on the dates presented, and may not be appropriate for other purposes. We do not undertake to update any forward- looking statement that is contained in this report or in other communications except as required by law. CIBC CIBC Investor Presentation | 2#3CIBC CIBC Transforming Our Bank CIBC Investor Presentation#4Continued focus on our strategic priorities Reinvigorate our Canadian consumer franchise %1 Protect and build on areas of strength Accelerate the pace of transformation and growth CIBC CIBC Investor Presentation | 4#5CIBC Snapshot¹ (TSE & NYSE: CM) CIBC TOP-TIER MOBILE $57B 10MM 44K 12.4% 9.0% MARKET-CAP² CLIENTS² EMPLOYEES¹ CET1 RATIO² PPPT (5-yr CAGR)³ BANKING APP - 7 CONSECUTIVE YEARS4 DIVERSIFIED EARNINGS MIX Net Income by Strategic Business Unit5 29% 35% 13% 23% ■ Canadian Personal & Business Banking ■ Canadian Commercial Banking & Wealth Mgmt. ■U.S. Commercial Banking & Wealth Mgmt. ■Capital Markets STRONG CREDIT RATINGS Net Income Contribution by Region Agency Rating2,6 11% Moody's Aa2 (Senior A2), Stable 20% -25% U.S. Mid-term Goal S&P A+ (Senior7, BBB+), Stable 69% ■ Canada ■ United States ■ Other Fitch AA (Senior7, AA-), Negative DBRS AA (Senior AA(low)), Stable LEADING CANADIAN FINANCIAL INSTITUTION WITH GROWING U.S. BUSINESS Note: All amounts are in Canadian dollars unless otherwise indicated. 1 All financial results are non-GAAP measures. See non-GAAP section of CIBC's Q2/21 Report to Shareholders 2As of 4/30/2021. 3 Rolling 5-year compound annual growth rate on Pre-Provision Pre-Tax Earnings (PPPT) as of Q2/21. 4 As ranked by the Forrester Banking Wave™: Canadian Mobile Apps, Q4 2020. 5 Q2 2021. Excludes Corporate & Other. 6 Long-term senior debt ratings Subject to conversion under the bank recapitalization "bail-in" regime CIBC Investor Presentation | 5#6Overview of Our Strategic Business Units CIBC Canadian Personal & Business Banking Providing clients across Canada with financial advice, products and services through advice centres, mobile, online and remote channels Helping our clients achieve their ambitions each and every day Canadian Commercial Banking & Wealth Management • • High-touch, relationship-oriented commercial banking and wealth management, and asset management Building and enhancing client relationships and generating long-term consistent growth • U.S. Commercial Banking & Wealth Management High-touch, relationship-oriented commercial, personal and small business banking, and wealth management services Developing deep, profitable relationships leveraging full complement of products and services DIVERSE CLIENTELE Capital Markets Integrated global markets products and services, investment banking, corporate banking solutions and top- ranked research. Includes Direct Financial Services to deliver digitally enabled capabilities. Delivering best-in-class insight, advice and execution Personal Banking ⚫Mass Market Consumers • Small Businesses Entrepreneurs Middle-Market Companies • . Entrepreneurs High-Net-Worth Individuals and Families ⚫Institutional Investors Middle-Market Companies Entrepreneurs High-Net-Worth Individuals and Families . · Executives Corporate • Government • Institutional Investors 67 571 490 CIBC Investor Presentation | 6#7Leadership Driving Culture of Accountability and Continuous Improvement Victor Dodig President & CEO Joined: 2005 Read bio > Hratch Panossian SEVP & CFO 2011 Read bio > Shawn Beber SEVP & Chief Risk Officer 2002 Read bio > Michael Capatides SEVP & Group Head, U.S. Region President & CEO, CIBC Bank USA 1996 Read bio > Laura Dottori- Attanasio SEVP & Group Head, Personal & Business Banking, Canada 2013 Read bio > Jon Hountalas SEVP & Group Head, Commercial Banking & Wealth Management, Canada 2010 Read bio > Harry Culham SEVP & Group Head, Christina Kramer SEVP, Technology, Infrastructure & Innovation Capital Markets 2008 Read bio > 1987 Read bio > CIBC Sandy Sharman SEVP & Group Head, People, Culture & Brand 2014 Read bio > Kikelomo Lawal EVP & Chief Legal Officer 2020 Read bio > DIVERSE MIX OF EXTENSIVE INDUSTRY EXPERTISE CIBC Investor Presentation | 7#8We Are Committed to ESG Principles throughout Our Organization $ CIBC • • • CLIENT FOCUS CLIMATE CHANGE Purpose-led culture with deep client relationships Leveraging client feedback to improve products, services and processes to make banking with CIBC radically simple Continuously investing in cybersecurity to protect personal and confidential information CIBC's 2020 Enterprise Net Promoter Score was 62.81 up 2 points from 2019 CIBC continues to work towards being carbon neutral and purchasing 100% of our electricity from renewable sources by 2024 2020 environmental milestones Committed $42.1 billion² to sustainable financing activities since 2018, reaching 28% of our $150 billion target by 2027 Inaugural issuance of a US $500 million, five-year green bond to help finance new and existing green projects, assets, and businesses • • STAKEHOLDER INCLUSION CIBC ranked #1 in Canada for gender equality and 19th globally in Equileap's annual Gender Equality Global Report & Ranking A woman chairs CIBC's Board of Directors for the first time in CIBC's 153- year history and 50% of the board members are women Bloomberg ranked CIBC one of best organizations for gender equality globally for the sixth year in a row • 23,000 members in 10 People Networks • CULTURE CIBC was once again, named one of Canada's Top 100 Employers, our ninth consecutive year with that honour Empowering employees with increased accountability Best-in-class employee engagement score - 11 points above Willis Towers Watson Global Financial Services norm Creating a modern, connected and inclusive workplace, evident by transformed retail network and design of new global HQ³ BUILDING COMMUNITY Launched Black Entrepreneurship Loan Fund to help Black-led businesses across Canada recover from the pandemic CIBC team members and retirees volunteered more than 109,000 hours in communities across North America in 2020 Donated $75M+ in corporate and employee giving to community organizations in 2020 CREATING A SUSTAINABLE FUTURE IS EMBEDDED IN OUR CULTURE Formerly CIBC Client Experience Net Promoter Score Index. 2 Reflects $12.3 billion in 2018, $14.1 billion in 2019, $15.7 billion in 2020. 3 Scheduled to move to our new HQ in 2021. • GOVERNANCE Good governance is the foundation for creating long-term value and is embedded across our organization 100% employee completion rate for ethical training on our Code of Conduct Nine out of our 14 Board members identify corporate responsibility for environmental and social matters as a key area of expertise and experience CIBC Investor Presentation | 8#9Engaged and Diverse Board of Directors... CIBC Katharine Stevenson Chair of the Board, CIBC Former Sr. Financial Exec., Nortel Networks 2011 Charles Brindamour Chief Executive Officer, Intact Financial Corp. 2020 Nanci Caldwell Former EVP & Chief Marketing Officer, Peoplesoft, Inc. 2015 Michelle Collins President, Cambium LLC 2017 Patrick Daniel Former President CEO, Enbridge Inc. 2009 Luc Desjardins President & CEO, Superior Plus Corp. 2009 Victor Dodig President & CEO, CIBC 2014 Kevin Kelly Former Lead Director, Ontario Securities Comm. 2013 Christine Larsen Former Sr. Advisor to the CEO, First Data Corp 2016 Nicholas Le Pan Former Superintendent, Financial Inst. CAN 2008 Jane Peverett Former President & CEO, BCTC 2009 Mary Lou Maher Canadian Managing Partner, KPMG 2021 Martine Tourcotte Former Vice Chair, Quebec of BCE & Bell Canada 2014 Barry Zubrow President, ITB LLC 2015 CIBC Investor Presentation | 9#10...with Deep Industry Expertise and Capabilities Senior Leadership Position Strategy Financial Services 100% 73% 73% 93% Financial Expertise CSR / ESG HR Management / Compensation 73% INDEPENDENCE 67% 60% 50% FEMALE DIRECTORS Public / Government Relations 60% 8 YEARS AVERAGE TENURE 40% Legal / Regulatory / Compliance Risk Management & Governance Information Technology SUPPORTING OUR LONG-TERM PROFITABLE GROWTH STRATEGY 53% 47% 73% CAN | 27% U.S. GEOGRAPHICAL MIX CIBC CIBC Investor Presentation | 10#11Transforming the Bank through Our Continuous Improvement Journey WHERE WE WERE & WHERE WE ARE TODAY Earnings by Region 2014 Q2 2021 Growth Metrics 2014 Q2 2021 J.D. Power Retail #5 #51 Satisfaction Ranking Diversifying Improving Client Experience to Drive Growth Loans ($B) 268 432 Earnings Growth Canada While Maintaining U.S. Deposits ($B) 325 577 Risk Discipline Other AUA ($MM) 1,703 2,783 75% 69% 6% 20% 19% 11% Efficiency Metrics 2014 Q2 2021 Capital & Liquidity Metrics 2014 Q2 2021 Efficiency Ratio 59.0% 54.9% Investing in Process Improvements to Strong Capital and Liquidity for Challenging CET1 10.3% 12.4% Economic Drive Efficiency Sales to Service Ratio² 50.4% 68.1% Scenarios Liquidity Coverage Ratio (LCR) 129%3 134% CIBC CREATING ENDURING SHAREHOLDER VALUE BY EXECUTING ON OUR LONG-TERM PROFITABLE GROWTH STRATEGY 1 J.D. Power Ranking Canadian Retail Banking Satisfaction Survey for 2021. Result was impacted by COVID-19 pandemic operational issues. 2Sales to Service Ratio is defined as the number of sales or advisory roles divided by the number of service and administrative roles. ³ Regulatory disclosure of Liquidity Coverage Ratio was effective the first quarter after Jan/15. CIBC's Q2/15 LCR was 129%. CIBC Investor Presentation | 11#12CIBC Long-term Profitable Growth Strategy CIBC CIBC Investor Presentation#13Deliver Superior Client Experience and Top-tier Total Shareholder Return 0000 FOCUS on key client segments Simplify and transform our bank To accelerate earnings growth To deliver a modern relationship value proposition Advance our purpose- driven culture To deliver the full potential of our connected franchise STRATEGIC IMPERATIVE: MAINTAIN FINANCIAL STRENGTH THROUGH OUR TRANSFORMATION CIBC CIBC Investor Presentation | 13#14Business Strategic Priorities: Canadian Personal & Business Banking Focus on Effectiveness and Operational Excellence Build on sales effectiveness by strengthening core capabilities, ensuring Purpose-driven accountabilities and efficient client contact strategies • Achieve operational excellence by ensuring efficient and effective processes that address key client irritants • • • Deliver personalized advice and experiences Focus on client's end-to-end payment experiences as a key differentiator with focused investments Provide personalized advice and experiences supported by new tools and capabilities Selective enhancements to our product offering More opportunities for clients to bank digitally Continued investments in virtual/digital banking, making it easy for clients to onboard and bank with us 0000 Rejuvenating Our Personal and Business Banking Franchise $ CIBC CIBC Investor Presentation | 14#15Business Strategic Priorities: Canadian Commercial Banking & Wealth Mgmt. CIBC • • • • Accelerate Growth in Private Wealth Management Engage clients with differentiated full- service, solutions-based approach • Strategic hires in client-facing roles where we have growth opportunities Investing in technology infrastructure, including financial planning and Client Relationship Management technology Continued focus on growing fee-based revenues • • Evolve Asset Management Maintain strong investment performance 70%+ of our Assets under Management outperformed over the past 1, 3 and 5 years¹ Streamline costs to offset industry margin compression Grow retail and institutional net sales Risk-Controlled Growth in Commercial Banking • Maintain strong quality of loan portfolio • • Deepen client relationships, including cross-referrals to Wealth Management, Personal Banking and Capital Markets Prioritize growth in segments expected to outperform, including Innovation Banking and real estate 0000 Being the Leader in Advice in Canada 1 As of 3/31/2021 $ CIBC Investor Presentation | 15#16Business Strategic Priorities: U.S. Commercial Banking & Wealth Mgmt. CIBC • Expanding Our Client Base Grow our client base through strategically • located offices and specialty groups Achieve greater scale in Wealth Management and Private Banking • Diversify deposits via CIBC Agility, an online savings and CD account platform for U.S. clients • • Leveraging CIBC's Full Capabilities Continue building full, profitable relationships with new and existing clients by leveraging cross-border and cross- business capabilities Leverage co-location of Commercial Banking and Wealth Management professionals to enhance cross referrals Use data as a strategic asset to support growth, and optimize regulatory processes • Streamlining Processes Further refine client-facing processes, making it easier for clients to bank with us Invest in growth of business in order to improve our client experience while also achieving greater scale and efficiencies Maintain our focus on asset quality and diversifying loan and deposit portfolio 0000 Delivering the Best-in-Class Commercial and Wealth Management offering in the U.S. $ CIBC Investor Presentation | 16#17Business Strategic Priorities: Capital Markets Strengthening Leadership Positions • Being the leading Capital Markets platform in Canada for our core clients • Building a best-in-class renewables and clean energy franchise with global perspectives retain our leadership and grow in renewables, sustainability and private capital • • Building a North American Platform Scaling our global capabilities and expertise to serve our U.S. Corporate, Institutional and Commercial clients Expanding mid-market coverage and broadening financing capabilities in the U.S. . Increasing Connectivity Enhancing connectivity to the rest of our Bank by providing a full suite of Capital Markets products to our Personal, Commercial and Wealth clients Grow Direct Financial Services - provide an integrated set of touchless banking services to digital-savvy and value- conscious consumers 0000 Building a Differentiated Capital Markets Platform, Focused on Connectivity Across the Bank $ CIBC CIBC Investor Presentation | 17#18CIBC Note: All amounts are in Canadian dollars unless otherwise indicated. CIBC Financial Performance CIBC Investor Presentation#19Solid Returns to Shareholders... Adjusted Diluted EPS1,2 ($) $12.21 $11.11 2017 2018 Adjusted Return on Equity 1,2 (%) 18.1% 17.4% 15.4% 11.7% $11.92 $9.69 $7.17 $2.79 $2.71 $3.59 $0.94 $3.24 $3.58 2019 2020 2021 2017 Pre-Provision Pre-Tax Earnings ($B) $8.14 $7.77 $8.18 $6.66 $1.99 $2.10 $4.46 $1.93 $2.20 $2.16 $2.26 2017 2018 2019 2020 2021 2018 2019 2020 Adjusted Dividend Payout Ratio 1,2,3 60.0% 46.2% 46.9% 43.4% 17.3% Q2 2021 (%) 40.7% 2017 2018 2019 2020 Q2 2021 Q1 Q2 Q3 Q4 CIBC 1 Adj. results are non-GAAP measures. See non-GAAP section of CIBC's Q2/21 Report to Shareholders. 2 F20 results were affected by COVID-19 pandemic economic impacts. ³ Common dividends paid as a percentage of net income after preferred dividends and premium on preferred share redemptions. CIBC Investor Presentation | 19#20...Through Investments in Top-Line Growth and Improving Efficiency Adjusted Revenue (TEB) 1,2,3 ($B) $18.1 $18.7 $16.3 Adjusted Non-Interest Expenses 1,3 ($B) $18.9 $10.1 $10.4 $9.3 $4.6 $4.8 $10.0 $4.6 $5.0 $4.9 $5.0 2020 2021 2017 2018 2019 2017 2018 2019 Adjusted Efficiency Ratio (TEB) 1,2,3 (%) $10.6 $2.6 $2.6 $5.4 $2.6 $2.7 $2.7 $2.7 2020 2021 Adjusted Net Income¹,3 ($B) 57.2% 55.6% 55.5% 55.8% 54.9% $5.5 $5.4 $4.7 $4.4 $1.3 $3.3 $1.2 $1.7 $0.4 $1.5 $1.6 2017 2018 2019 2020 Q2 2021 2017 2018 2019 2020 2021 Q1 Q2 Q3 Q4 CIBC 1 Adj. results are non-GAAP measures. See non-GAAP section of CIBC's Q2/21 Report to Shareholders. 2 TEB = Taxable Equivalent Basis - a non-GAAP financial measure representing the gross up of tax-exempt revenue on certain securities to an equivalent before-tax basis to facilitate comparison of NII from both taxable and tax-exempt sources. 3 F20 results were affected by COVID-19 pandemic economic impacts. CIBC Investor Presentation | 20#21Underpinned by a Commitment to Balance Sheet Strength... 11.4% 10.6% 20171 2018 Basel III CET1 Ratio (%) 11.6% 2019 Basel III Total Capital Ratio (%) 12.1% 12.4% 16.1% 16.2% 14.9% 15.0% 13.8% 2020 Q2 2021 20171 2018 Basel III Leverage Ratio (%) 4.3% 4.0% 4.3% 2019 2020 Q2 2021 Liquidity Coverage Ratio (%) 4.7% 4.7% 128.0% 125.0% 120.0% 145.0% 134.0% 2017 2018 2019 2020 Q2 2021 Q4 2017 Q4 2018 Q4 2019 Q4 2020 Q2 2021 1 On June 23, 2017, CIBC completed the acquisition of Private Bancorp, Inc. and its subsidiary, The Private Bank and Trust Company. CIBC CIBC Investor Presentation | 21#22...and Prudent Risk Management 0.47% 0.45% 2017 2018 22 31 27 28 2015 2016 Allowance for Credit Losses/Gross Loans 1,2 (%) 4 34 25 2017 0.51% 2019 Loan Loss Ratio 2,3,4 (bps) ■Impaired Total 0.89% 0.77% 2020 Q2 2021 33 25 29 25 26 26 23 2018 2019 61 24 3 2020 Q2 2021 COVID-19 Pandemic CIBC 1 Allowance for credit losses to gross carrying amount of loans. The gross carrying amount of loans include certain loans that are measured at FVTPL. 2 F20 results were affected by COVID-19 pandemic economic impacts. 3 Fiscal years 2011 to 2017 are under IAS 39. Effective November 1, 2017, we adopted IFRS 9. 4 The ratio is calculated as the provision for credit losses on impaired loans to average loans and acceptances, net of allowance for credit losses. CIBC Investor Presentation | 22#23Lending portfolio mix remains sound Overall Loan Mix (Outstanding) Consumer 66% Real Estate Secured Lending 59% • • Nearly two-thirds of our portfolio is consumer lending composed mainly of mortgages, with uninsured having an average loan-to-value of 51% Oil and gas is 1.8% of the loan portfolio; 47% investment grade The balance of our portfolio is in business and government lending with an average risk rating equivalent¹ to a BBB, with minimal exposure to the leisure and entertainment sectors Cards 2% Auto Lending 1% Canadian Uninsured Mortgage Loan-To-Value Ratios Personal 54% 54% Lending 4% 53% $432B Retailers 1% 51% Oil & Gas 2% 52% 49% Leisure & Entertainment 1% 51% 49% Commercial Real Estate 10% 47% 46% 45% 43% Other Business & Government 20% Business & Government Q2/18 Q2/19 Q2/20 Q2/21 34% Canada GVA GTA 1 Incorporates security pledged; equivalent to S&P/Moody's rating of BBB/Baa2. CIBC CIBC Investor Presentation | 23#24Financial Highlights: Canadian Personal and Business Banking Adjusted Net Income 1,2 ($B) $2.30 2019 51.3% Adjusted Pre-Provision Pre-Tax Earnings 1,2 ($B) $4.02 $1.79 $0.59 $1.26 $0.46 $0.60 $0.16 $0.58 $0.65 2020 2021 2019 Q2 Q3 Q4 Adjusted Efficiency Ratio 1,2 (%) 54.3% 54.5% 2.41% $3.62 $0.92 $0.84 $1.82 $0.86 $0.88 $1.00 $0.94 2020 2021 NIM 1,2 (%) 2.35% 2.22% CIBC 2019 2020 Q2 2021 2019 2020 Q2 2021 REVITALIZING OUR CONSUMER BUSINESS TO DELIVER SUSTAINABLE, MARKET LEADING PERFORMANCE 1 Adjusted results are non-GAAP measures. See non-GAAP section of CIBC's Q2/21 Report to Shareholders. 2019-2020 amounts have been restated since Q1/21. 2 F20 results were affected by economic impacts from COVID-19 pandemic CIBC Investor Presentation | 24#25Growing Digital Engagement and Adoption1 Digital Adoption Rate² 73.2% Q2/20 Digital Transactions4 (MM) 96 2.7% 75.9% Q2/21 24.4% 120 43 16 50 17 53 37 Q2/20 Q2/21 ■ eTransfers ■ Bill Payments ■ Other 5 Active Digital Banking Users³ (MM) 5.9% 4.4 4.1 Q2/20 Transactions by Channel4 8.9% Digital Channel Usage (# of Sessions, MM) 227 10.5% 251 Q2/21 Q2/20 Q2/21 7.4% 91.1% 92.6% Q2/20 ■Digital Channel Q2/21 ■Non-Digital Channel TOP-TIER MOBILE BANKING - A COMPETITIVE ADVANTAGE 1 Canadian Personal Banking excluding Simplii Financial. 2 Digital Adoption Rate calculated using 90-day active users. 3 Active Digital Users represent the 90-day Active clients in Canadian Personal Banking. 4 Reflect financial transactions only. 5 Other includes transfers and eDeposits. CIBC CIBC Investor Presentation | 25#26Financial Highlights: Canadian Personal and Business Banking $215.1 2019 $16.5 Real Estate Secured Personal Loans¹ (SB) $217.9 $232.9 $12.5 2020 Other Personal and Business Loans¹ ($B) $3.0 $17.6 $3.0 Credit Card Loans¹ ($B) $11.8 $10.5 Q2 2021 2019 2020 Q2 2021 Deposits¹ ($B) $18.0 $186 $171 $3.1 2019 2020 Q2 2021 ■ Other Personal Loans Business Loans $157 2019 2020 Q2 2021 REVITALIZING OUR CONSUMER BUSINESS TO DELIVER SUSTAINABLE, MARKET LEADING PERFORMANCE 1 F20 results were affected by economic impacts from COVID-19 pandemic. 2019-2020 amounts have been restated since Q1/21. CIBC CIBC Investor Presentation | 26#27Financial Highlights: Canadian Commercial Banking and Wealth Management $1.29 2019 52.3% Adjusted Net Income 1,2 ($B) Adjusted Pre-Provision Pre-Tax Earnings 1,2 ($B) $1.92 $1.94 $1.20 $0.49 $1.04 $0.49 $0.34 $0.75 $0.32 $0.47 $0.53 $0.40 $0.21 $0.34 $0.35 $0.49 $0.52 2020 Q2 2021 2019 2020 2021 Q1 Q2 Q3 Q4 Adjusted Efficiency Ratio¹ (%) 52.9% 53.5% 3.14% NIM² (%) 3.25% 3.17% 2019 2020 Q2 2021 2019 2020 DELIVERING GROWTH THROUGH FULL-SERVICE, SOLUTIONS-BASED APPROACH 1 Adj. results are non-GAAP measures. See non-GAAP section of CIBC's Q2/21 Report to Shareholders. 2 F20 results were affected by economic impacts from COVID-19 pandemic Q2 2021 CIBC CIBC Investor Presentation | 27#28Financial Highlights: Canadian Commercial Banking and Wealth Management Average Loans¹ ($B) $68 $65 $2 $2 $66 $63 2019 ■Commercial Banking Loans $71 $2 $60 $5 $69 $55 Average Deposits¹ ($B) $71 $7 $64 2020 Q2 2021 2019 2020 Wealth Management Loans ■Commercial Banking Deposits Wealth Management: AUA² ($B) $289 $288 2019 2020 $332 Q2 2021 $80 $8 $72 Q2 2021 ■Wealth Management Deposits Wealth Management: AUM² ($B) $189 $182 2019 2020 DELIVERING GROWTH THROUGH FULL-SERVICE, SOLUTIONS-BASED APPROACH 1 F20 results were affected by COVID-19 pandemic economic impacts. 2 Assets Under Management (AUM) amounts are included in the amounts reported under Assets Under Administration (AUA). $213 Q2 2021 CIBC CIBC Investor Presentation | 28#29Financial Highlights: U.S. Commercial Banking and Wealth Management Adjusted Net Income 1,2,3 (SB) Adjusted Pre-Provision Pre-Tax Earnings 1,2 ($B) $0.69 2019 54.7% 2019 $1.00 $0.85 $0.26 $0.44 $0.58 $0.43 $0.26 $0.15 $0.28 $0.23 $0.24 $0.08 $0.03 $0.18 $0.20 $0.23 $0.30 2020 2021 2019 2020 2021 Q1 Q2 Q3 Q4 Adjusted Efficiency Ratio 1,2 (%) 51.1% 2020 47.6% Q2 2021 NIM 1,2 (%) 3.71% 3.51% 2019 3.35% 2020 Q2 2021 CIBC EXPANDING CLIENT RELATIONSHIPS BY LEVERAGING CROSS-BORDER AND CROSS-BUSINESS CAPABILITIES 1 Adjusted results are non-GAAP measures. See non-GAAP section of CIBC's Q2/21 Report to Shareholders. 2019-2020 amounts have been restated since Q1/21. 2 F20 results were affected by economic impacts from COVID-19 pandemic ³ TEB = a non-GAAP financial measure representing gross up of tax-exempt revenue on certain securities to an equivalent before-tax basis to facilitate comparison of NII from both taxable and tax-exempt sources. CIBC Investor Presentation | 29#30Financial Highlights: U.S. Commercial Banking and Wealth Management $35 $3 $32 2019 Average Loans¹ ($B) ■Commercial Banking Loans $90 2019 $42 $5 $37 $41 $7 $34 Average Deposits 1,2 ($B) $41 $35 $26 2020 Q2 2021 Wealth Management Loans 2019 U.S. Wealth Management: AUA1,3 ($B) $98 2020 $113 $69 Q2 2021 2019 2020 U.S. Wealth Management: AUM1,3 ($B) $76 Q2 2021 $89 2020 Q2 2021 CIBC EXPANDING CLIENT RELATIONSHIPS BY LEVERAGING CROSS-BORDER AND CROSS-BUSINESS CAPABILITIES 1 F20 results were affected by economic impacts from COVID-19 pandemic. 2 2019-2020 amounts have been restated since Q1/21. 3 Includes certain Canadian Commercial Banking and Wealth Management assets that U.S. Commercial Banking and Wealth Management provides sub-advisory services for. Assets Under Management (AUM) amounts are included in the amounts reported under Assets Under Administration (AUA). CIBC Investor Presentation | 30#31Financial Highlights: Capital Markets Adjusted Net Income¹, 2, 3 ($B) Adjusted Pre-Provision Pre-Tax Earnings1,2 ($B) $1.31 $1.67 $1.12 $0.99 $0.31 $0.44 $0.50 $0.18 $0.38 $0.49 2019 2020 2021 2019 Q1 Q2 Q3 Q4 51.9% 2019 Adjusted Efficiency Ratio 1, 2 (%) 47.6% 2020 45.0% Q2 2021 $2.12 $0.48 $1.31 $0.66 $0.66 $0.48 $0.51 $0.65 2020 2021 Return on Equity 2 (%) 18.8% 17.5% 2019 2020 29.0% Q2 2021 CIBC BUILDING A LEADING NORTH AMERICAN CLIENT PLATFORM WITH GLOBAL CAPABILITIES 1 Adjusted results are non-GAAP measures. See non-GAAP section of CIBC's Q1/21 Report to Shareholders. 2019-2020 amounts have been restated since Q1/21.2 F20 results were affected by COVID-19 pandemic economic impacts. 3 TEB = a non-GAAP financial measure representing gross up of tax-exempt revenue on certain securities to an equivalent before-tax basis to facilitate comparison of NII from both taxable and tax-exempt sources. CIBC Investor Presentation | 31#32CIBC Note: All amounts are in Canadian dollars unless otherwise indicated. Disciplined Capital Deployment CIBC CIBC Investor Presentation#33Disciplined Capital Deployment Investing to reinvigorate our consumer business Organic Growth • Focusing on high-return projects, particularly process simplification and technology enhancements Build on positive momentum in our North American Commercial Banking, Capital Markets, and US Private Wealth Management businesses Dividend Stability • • • With a CET1 ratio of 12.4%, we have abundant excess capital over and above the current regulatory minimum of 9.0% to support our clients and maintain our current dividend In response to the COVID-19 pandemic, OSFI directed that all federally regulated financial institutions halt share buybacks and dividend increases until further notice Long-term payout ratio will remain in 40% - 50% target range with ability to run above it in the near term while continuing to support our economy and clients Inorganic Growth • Near term: do not expect any sizeable M&A in the U.S. as we continue to focus our capital allocation on supporting our clients and maintaining our dividend Long term: will remain an option Remain selective Ensure right cultural and strategic fit CIBC CIBC Investor Presentation | 33#34High-Quality, Client-Driven Balance Sheet (Based on Q2 2021 Results) Assets $783B Liabilities & Equity Cash & Repos 35% Liquid Assets Trading & Investment Securities 130% Coverage (Liquid Assets / Wholesale Funding) Unsecured Funding 27% Wholesale Funding Secured Funding³ Residential Mortgages¹ 54% Loan Portfolio Other Retail Loans 116% Coverage (Deposits + Capital / Loans) Corporate Loans 10% Other Assets² Mainly Derivatives Personal Deposits Business & Gov't Deposits 63% Capital + Client-related Funding Securitization & Covered Bonds Capital Other Liabilities² 10% Mainly Derivatives 1 Securitized agency MBS are on balance sheet as per IFRS. 2 Derivatives related assets, are largely offset by derivatives related liabilities. Under IFRS derivative amounts with master netting agreements cannot be offset and the gross derivative assets and liabilities are reported on balance sheet. 3 Includes obligations related to securities sold short, cash collateral on securities lent and obligations related to securities under repurchase agreements. CIBC CIBC Investor Presentation | 34#35CIBC Funding Strategy and Source Funding Strategy CIBC • • • CIBC's funding strategy includes access to funding through retail deposits and wholesale funding and deposits CIBC updates its three-year funding plan on at least a quarterly basis The wholesale funding strategy is to develop and maintain a sustainable funding base through which CIBC can access funding across many different depositors and investors, geographies, maturities, and funding instruments Wholesale Funding Sources Wholesale Market (CAD Eq. 156.1BN), Maturity Profile 660 40 40 Wholesale deposits Canada, U.S. Credit card securitization Canada, U.S. 50 Global MTN programs Mortgage securitization 30 programs Secured Unsecured 32 20 20 9 19 24 20 20 10 19 13 Covered Bond program Structured Notes 12 4 3 Less than 1m 1m-3m 3m-6m 6m-12m 1y-2y Over 2y Source: CIBC Q2-2021 Report to Shareholders CIBC Investor Presentation | 35#36Wholesale Funding Geography CAD 46.5 BN Canada Mortgage Bonds Credit Cards Securitization Medium Term Notes Canadian Dollar Deposits " " USD 66.6 BN Covered Bond Program Credit Cards Securitization Medium Term Notes US Dollar Deposits Credit Cards Securitization 4% Wholesale Funding By Currency¹ EUR 8.1 BN, CHF 2.2 BN, GBP 3.7 BN, SEK 2.0 BN, NOK: 0.15 BN Covered Bonds Medium Term Notes Wholesale Funding By Product1,3 Secured 25% Mortgage Securitization 47% Covered Bonds 49% Medium Term Notes 36.4% Term Deposits Unsecured² 75% 0.5% CD and CP 51.5% 123 1. Source: CIBC Q2-2021 Report to Shareholders 2. "Unsecured" includes Obligations related to securities sold short, Cash collateral on securities lent and Obligations related to securities under repurchase agreements. 3. Percentages may not add up to 100% due to rounding JPY 55.0 BN Medium Term Notes HKD 5.7 BN ☐ Medium Term Notes Sub-debt 4.8% AUD 5.5 BN Covered Bonds Medium Term Notes Bankers Acceptances 6.8% CIBC CIBC Investor Presentation | 36#37CIBC Funding Composition Funding Sources - April 20211 Others Securitization & Covered Bonds (Includes 5% derivatives) 9% Capital² 6% Securities sold short or repurchase agreements 11% Unsecured funding¹ 16% Personal deposits 26% Business and government deposits 26% Source: CIBC Q2-2021 Supplementary Financial Information 1 Percentages may not add up to 100% due to rounding. Funding Sources BN Personal deposits 207.0 Business and government deposits 207.2 Unsecured funding¹ 123.2 Securities sold short or repurchase agreements 89.6 Others (Includes derivatives) 68.4 Capital² 48.3 Securitization & Covered Bonds 39.2 Total 782.9 Wholesale market, currency³ BN USD 83.9 CAD Other Total 46.5 25.7 156.1 1 Unsecured funding is comprised of wholesale bank deposits, certificates of deposit and commercial paper, bearer deposit notes and bankers' acceptances, senior unsecured EMTN and senior unsecured structured notes 2 Capital includes subordinated liabilities 3 Currency composition, in Canadian dollar equivalent, of funding sourced by CIBC in the wholesale market. Source: CIBC Q2-2021 Report to Shareholders CIBC CIBC Investor Presentation | 37#38CIBC Note: All amounts are in Canadian dollars unless otherwise indicated. Canadian Mortgage Market CIBC CIBC Investor Presentation#39Mortgage Market Performance and Urbanisation Rates 1 Canadian mortgages consistently outperform U.S. and U.K. mortgages Low defaults and arrears reflect the strong Canadian credit culture Mortgage interest is generally not tax deductible, resulting in an incentive for mortgagors to limit their amount of mortgage debt In most provinces, lenders have robust legal recourse to recoup losses Mortgage arrears have steadily declined from high of 0.45% in 2009 to 0.23% in February 20211 Source: Canadian Banker's Association Population in Top Four Cities Canada has one of the highest urbanisation rates in the G7 Almost 40% of the Canadian population lives in one of the four largest cities A greater rate of urbanisation is a strong contributor to increases in property values Source: CML Research, CBA, MBA. *Mortgage arrears of 3+ months in Canada and UK or in foreclosure process in the US 2001 2002 2003 2004 2005 2006 2007 2008 5.0% 4.5% -Canada .U.K. .U.S. 4.0% 3.5% 3.0% 2.5% 2.0% 1.5% 1.0% 0.5% 0.0% 2009 2010 2011 Mortgage Arrears by Number of Mortgages 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 40% 35% 30% % of Population 25% 20% 15% ² 10% 5% 0% Canada U.K. U.S. Germany France Source: 2014 Census for France, 2016 Census for Canada, 2011 Census for UK, Germany; 2010 Census for US CIBC Investor Presentation | 39 CIBC#40Canadian House Prices • • Absolute price level is moderate compared to major global urban centers Canadian debt to income ratio in line with many developed nations Growth rates of house prices in Canada have diverged across regions City Canada 300 250 200 150 100 50 Household Debt to Income Ratio Household Debt to Income Ratio Average Denmark Netherla... Norway Australia Source: OECD, 2018 or latest available. Household debt ratios across countries can be significantly affected by different institutional arrangements, among which tax regulations regarding tax deductibility of interest payments. Sweden Canada Ireland U.K. France Japan U.S. Germany Average Home Price CAD USD Eq.¹ 696K 566K Toronto 1025K 835K Vancouver 1153K 938K Calgary 447K 364K Montreal 488K 397K Ottawa 638K 519K Source: CREA, April 2021, 11 USD = 1.2285 CAD Housing Index Year over Year Change, by City CIBC 35% Canada -Toronto Vancouver -Calgary -Montreal -Ottawa 30% 25% 20% 15% 10% 5% 0% Dec-07 Dec-08 Dec-09 Dec-10 Dec-11 Dec 12 Dec-13 Dec-14 Dec-15 Dec-16 Dec-17 Dec-18 Dec-19 Dec-20 Dec-21 -5% -10% -15% Source: Bloomberg, Teranet - National Bank House Price Index CIBC Investor Presentation | 40#41CIBC's Mortgage Portfolio 1. CIBC Canadian Residential Mortgages: CAD 225.8 BN Condo Exposure: CAD 37.3 BN Condo Mortgages Condo Developers CAD 121 BN 77% CAD 45 BN Insured ■ Uninsured CAD 26 BN 79% CAD 17 BN CAD 16 BN 49% 23% 21% 51% Ontario British Columbia and territories Alberta 66% 34% Quebec 53% 47% Other • CAD 31.4 BN CAD 5.9 BN Uninsured 69% Undrawn 76% Insured 31% Drawn 24% 28% of CIBC's Canadian residential mortgage portfolio is insured, with 67% of insurance being provided by CMHC • The average loan to value¹ of the uninsured portfolio is 51% The condo developer exposure is diversified across 104 projects Condos account for approximately 14% of the total mortgage portfolio LTV ratios for residential mortgages are calculated based on weighted average. The house price estimates for April 30, 2021 and October 31, 2020 are based on the Forward Sortation Area level indices from the Teranet - National Bank National Composite House Price Index (Teranet) as of March 31, 2021 and September 30, 2020, respectively. Teranet is an independent estimate of the rate of change in Canadian home prices. CIBC CIBC Investor Presentation | 41#42CIBC CIBC Canadian Bail-in Regime Update Note: All amounts are in Canadian dollars unless otherwise indicated. CIBC Investor Presentation#43How Bail-In Is Expected To Work When OSFI deems a bank has ceased to or may be about to cease to continue to be viable, it may trigger temporary takeover of the bank and carry out the bail-in conversion of NVCC capital and bail-in debt to common equity. ▪ There are no write-down provisions in the framework Conversion formula under many scenarios may result in investor gains 1. Pre-Loss Balance Sheet Loss Other Senior Liabilities Bail-in Debt 2. Loss Event 3. Post Bail-in Other Senior Liabilities Assets NVCC Sub- Debt Bail-in Debt Assets Assets NVCC NVCC Sub- Debt Preferred Equity Common Equity NVCC Preferred Equity Common Equity Note: Diagram shown is for illustrative purposes only. It is not to scale nor does it update the magnitude of the bail-in security to match the loss. Other Senior Liabilities Bail-in Debt Common Equity CIBC CIBC Investor Presentation | 43#44Canadian Bail-in Regime Update On April 18, 2018, Department of Finance published the bail-in regulations, and OSFI finalized the guidelines on Total Loss Absorbing Capacity (TLAC) and TLAC holdings. Department of Finance's bank recapitalization (bail-in) conversion regulations Provide statutory powers to CDIC (through Governor in Council) to enact the bail-in regime including the ability to convert specified eligible shares and liabilities of D-SIBS into common shares in the event such bank becomes non-viable • Bail-in eligible liabilities include tradable (with CUSIP/ISIN), unsecured debt with original maturity of over 400 days Excluded liabilities are covered bonds, consumer deposits, secured liabilities, derivatives, and structured notes¹ • Effective on September 23, 2018 OSFI's TLAC Guideline • • TLAC liabilities must be directly issued by the D-SIB, satisfy all of the requirements set out in the bail-in regulations, and have residual maturity greater than 365 days Minimum requirements: TLAC ratio = TLAC measure / RWA > 21.5% TLAC leverage ratio = TLAC measure / Leverage exposure 6.75% TLAC supervisory target ratio set at 22.50% RWA² Effective Fiscal 2022. Public disclosure began in Q1 2019 OSFI's TLAC Holdings • Our investment in other G-SIBS and other Canadian D-SIB's TLAC instruments are to be deducted from our own tier 2 capital if our aggregate holding, together with investments in capital instruments of other Fls, exceed 10% of our own CET1 capital • Implementation started in Q1 2019 1 As referenced in the Bank Recapitalization (Bail-in) Regulations: http://laws-lois.justice.gc.ca/eng/regulations/SOR-2018-57/FullText.html 2 Decreased to 22.50% on March 13, 2020 upon decrease of Domestic Stability Buffer to 1.00% (buffer will not increase for at least 18 months) CIBC CIBC Investor Presentation | 44#45Canadian Bail-in Regime - Comparison to Other Jurisdictions • Bail-in implementation in other jurisdictions has increased the riskiness of bail-inable bonds vs. non-bail-inable bonds: Legislative changes prohibit bail-outs, increasing the probability that bail-in will be relied on • The hierarchy of claims places bail-in debt below deposits and senior debt through structural subordination, legislation or contractual means • Bail-in is expected to rely on write-down of securities, imposing certain losses on investors The Canadian framework differs from other jurisdictions on several points: • The Canadian government has not introduced legislation preventing bail-outs Canadian senior term debt will be issued in a single class and will not be subordinated to another class of senior term debt like other jurisdictions such as the US and Europe • Canada does not have a depositor preference regime; bail-in debt does not rank lower than other liabilities No Creditor Worse Off principle provides that no creditor shall incur greater losses than under insolvency proceedings • There are no write-down provisions in the framework • Conversion formula under many scenarios may result in investor gains 1 As referenced in the Bank Recapitalization (Bail-in) Regulations: http://laws-lois.justice.gc.ca/eng/regulations/SOR-2018-57/FullText.html 2 Decreased to 22.50% on March 13, 2020 upon decrease of Domestic Stability Buffer to 1.00% (buffer will not increase for at least 18 months) CIBC CIBC Investor Presentation | 45#46CIBC Note: All amounts are in Canadian dollars unless otherwise indicated. Sustainability CIBC CIBC Investor Presentation#47ESG Commitments Commitments Material Topics Key Performance indicators Target CIBC Status as of Oct 31, 2020 or later 28%¹ achieved Environment Social Social Sustainable Finance Client Experience Privacy & Information Security Social Inclusive Banking Social Inclusive Banking Social Employee Engagement Social Employee Engagement Social Social Social Social Employee Engagement Belonging at Work Belonging at Work Belonging at Work Social Belonging at Work Social Social Social Social Belonging at Work Belonging at Work Belonging at Work Governance Community Relationships Business Ethics Environmental and sustainable financing CIBC Enterprise Net Promoter Score Number of privacy findings against CIBC by regulators New loan authorizations to small and medium-sized Enterprises (SMEs) Growth in commercial banking Indigenous business CIBC's employee engagement score Voluntary turnover (Canada) % of employees that had performance reviews % of women on the CIBC Board of Directors % of women in board-approved executive roles (Global) % of visible minorities in board-approved executive roles (Canada) % leaders from the Black community in board-approved executive roles (Canada) External hires: % of persons with disabilities (Canada) External hires: % of indigenous peoples (Canada) Student recruitment: % from the Black community (Canada) Community investments: Canada and the U.S. Employee completion rate: Code of Conduct ethical training $150 billion over 10 years (2018-2027) Continuous improvement ($42 billion) Up 2 pts YoY X 32 No privacy findings against CIBC by regulators Provide $9B in new loan authorizations to SMEs (2020-2023) 39% achieved Grow by 10% in 2020 23% >109% of Willis Towers Watson global financial services norm Voluntary turnover <12.5% in 2020 (Canada) 111% 7.3% Performance reviews for 100% of employees 100% At least 30% women, at least 30% men on CIBC's Board of Directors 50% At a minimum, between 35% and 40% by 2022 (Global) 33% 20% At least 22% by 2022 (Canada) 4% by 2023 (Canada) 8% 9% in 2020 (Canada) 3% X 5%4 2% in 2020 (Canada) At least 5% in 2021 N/A 3% Starts in 2021 $350M total corporate & employee giving (2019-2023) 100% employee completion rate 44% achieved 100% 1 For the cumulative results of 2018 through 2020. 2 Cases against CIBC by the Office of the Privacy Commissioner of Canada. ³ Revisions to our methodology resulted in new loan authorizations to SMEs being revised to $3.5 billion in 2020, from $6.9 billion reported in the ESG scorecard of CIBC's 2020 Annual Report. 4 The full picture of our hiring for persons with disabilities is likely not reflected due to low self-disclosure in the survey utilized for data collection. CIBC Investor Presentation | 47#48Our Commitment to Sustainability Environmental CDP DISCLOSURE INSIGHT ACTION TCFD TASK FORCE ON CLIMATE-RELATED FINANCIAL DISCLOSURES CHEST CL CUSTOMER SATISFACTION I.D.POWER NADA MA MOR NO APT 2024 UN → environment programme finance initiative Center Climate Aligned Finance PCAF Partnership for Carbon Accounting Financials PRI Principles for Responsible Investment Canada's Top 100 Employers 2021 Social CARING 'VE COMPANY CERTIFIED IMAGINE CANADA Bloomberg Governance CCGG Canadian Coalition for Good Governance THE VOICE OF THE SHAREHOLDER Member of Dow Jones Sustainability Indices Powered by the S&P Global CSA 2021 CANADA'S BEST Gender-Equality Index FTSE4Good 2021 DIVERSITY EMPLOYERS CIBC CIBC Investor Presentation | 48#49Our Commitment to ESG Rating Provider Rating¹ 2020 Climate Change Score A- CDP (from B in 2019) 2020 ESG Rating "AA" MSCI SUSTAINALYTICS SAM Now a Part of S&P Global GARP S&P Global Scale of CCC to AAA In November 2020, CIBC received an ESG risk rating score of 18.3, placing it in the 11th percentile of the Banks industry group CIBC's overall Sustainability Ranking: 85th percentile 2020 Global Survey of Climate Risk Management at Financial Firms: CIBC scored in the top quartile out of 71 global financial institutions 2021 ESG Score of 73; Company Rank: 39 of 622 in Industry 1 Ratings are not a recommendation to make an investment in any security of CIBC and may be revised or withdrawn at any time by the issuing organization. CIBC CIBC Investor Presentation | 49#50CIBC Note: All amounts are in Canadian dollars unless otherwise indicated. Long-Term Targets CIBC CIBC Investor Presentation#51Long-term Targets for Key Performance Measures > Regulatory Minimum CET1 Ratio Through the Cycle Targets Annual EPS Growth Positive Operating Leverage Return on Equity 5% - 10% 15%+ Dividend Payout Ratio 40% - 50% WELL POSITIONED TO DELIVER ON OUR LONG-TERM GOALS CIBC CIBC Investor Presentation | 51#52Investment Summary 01 Transforming Our Bank Continuous improvement mindset for a sustainable future 02 Long-term Profitable Growth Strategy Maintaining a client- focused strategy to drive sustainable earnings growth 03 Maintaining Strong Financial Performance Balancing investments for future growth with disciplined expense management to drive solid returns CREATING VALUE FOR OUR STAKEHOLDERS EVERYDAY EL DR ACE " CIBC CIBC Investor Presentation | 52#53CIBC Appendix CIBC CIBC Investor Presentation#54Exposure to vulnerable sectors represents 2% of our lending portfolio Leisure & Entertainment Loans Outstanding Retailer Loans Outstanding Restaurants 32% $3.6B Air Transport 14% Hotels/Motels 18% Auto Dealers 43% $4.7B Other Retail 12% Auto Parts Retailers 13% Department & Convenience Stores 6% Food, Beverage & Drug - Retail 18% Household Furnishing Stores 5% Amusement & Recreation¹ 36% Retail Clothing 3% • 28% of drawn loans investment grade² • The U.S. comprises 19% of drawn exposure • 52% of drawn loans investment grade² The U.S. comprises 4% of drawn exposure CIBC 1 Includes amusement services, gambling operations, sports clubs, horse racing, movie theaters, ski facilities, golf courses, etc. 2 Incorporates security pledged; equivalent to S&P/Moody's rating of BBB-/Baa3 or higher. CIBC Investor Presentation | 54#55Commercial Real Estate Exposure Remains Diversified Canadian Commercial Real Estate Exposure by Sector¹ Office 12% Residential 19% U.S. Commercial Real Estate Exposure by Sector² Industrial 15% Office 26% Industrial Residential 1% 10% Seniors Housing 6% $33.4B US$15.4B Other 5% Retail 12% Healthcare 3% Hotel 2% Retail 24% Multi Family 24% • 64% of drawn loans investment grade³ Other 13% Multi Family 28% • 30% of drawn loans investment grade³ 1 Includes $3.2B in Multi Family that is included in residential mortgages in the Supplementary Financial Information package. 2 Includes US$1.2B in loans that are included in other industries in the Supplementary Financial Information package, but are included because of the nature of the security. 3 Incorporates security pledged; equivalent to S&P/Moody's rating of BBB-/Baa3 or higher. CIBC CIBC Investor Presentation | 55#56Improved Diversification - Growth in the U.S. Region U.S. Region Earnings Contribution - Adjusted¹ 19.9% 15.8% 17.3% 17.1% F18 U.S. Region AUA (US$B)² F19 F20 YTD F21 75 73 67 94 =4 F18 F19 F20 YTD F21 1 Adjusted results are non-GAAP financial measures. See slide 62 for further details. 2 Assets under management (AUM) are included in assets under administration (AUA). CIBC CIBC Investor Presentation | 56#57Canadian Real Estate Secured Personal Lending 90+ Days Delinquency Rates Q2/20 Q1/21 Q2/21 • Total Mortgages 0.32% 0.27% 0.25% Uninsured Mortgages 0.28% 0.24% 0.23% Uninsured Mortgages in GVA¹ 0.18% 0.14% 0.24% Uninsured Mortgages in GTA¹ 0.18% 0.17% 0.16% Uninsured Mortgages in Oil Provinces² 0.64% 0.60% 0.63% Mortgage Balances ($B; spot) 204 226 218 124 121 113 The Greater Vancouver Area1 (GVA) and Greater Toronto Area¹ (GTA) continue to outperform the Canadian average HELOC Balances ($B; spot) 20.3 18.9 18.6 11.4 10.5 10.4 64 69 73 6.3 5.9 5.8 27 28 29 2.6 2.5 2.4 Q2/20 Q1/21 Q2/21 Q2/20 Q1/21 Q2/21 1 1 1 ■GVA ■GTA ■ Other Region ■GVA ■GTA ■ Other Region 1 GVA and GTA definitions based on regional mappings from Teranet. 2 Alberta, Saskatchewan and Newfoundland and Labrador. CIBC CIBC Investor Presentation | 57#58Canadian Uninsured Residential Mortgages - Q2/21 Originations Beacon Distribution 3% 2% 3% ≤650 12% 10% 11% 28% 28% 24% 47% 43% 43% 17% 14% 15% 651-700 701-750 751-800 >800 2 2 ■ Canada ■GVA ■GTA Loan-to-value (LTV)1 Distribution 20% 17% 16% 11% 8% 9% 5% 6% 4% <30% 40% 36% 33% 31% 37% 27% 30 to <45% 45 to <60% 60 to ≤75% >75% ■ Canada ■GVA² ■GTA² • Originations of $20B in Q2/21 Average LTV1 in Canada: 63% • GVA²: 58% • GTA²: 63% 1 LTV ratios for residential mortgages are calculated based on weighted average. See page 25 of the Quarterly Report to Shareholders for further details. 2 GVA and GTA definitions based on regional mappings from Teranet. CIBC CIBC Investor Presentation | 58#59Canadian Uninsured Residential Mortgages Beacon Distribution 11% 11% 10% 5% 4% 5% ≤650 25% 25% 23% 42% 43% 43% Better current Beacon and LTV1 distributions in GVA2 and GTA2 than the Canadian average Less than 1% of this portfolio has a Beacon score of 650 or lower and an LTV1 over 75% Average LTV1 in Canada: 51% 19% • GVA²: 47% 17% 17% • GTA²: 49% 651-700 701-750 751-800 >800 ■ Canada GVA² ■GTA² Loan-to-value (LTV)1 Distribution 33% 29% 29% 27% 25% 25% 25% 22% 19% 17% 15% 13% <30% 30 to <45% 45 to <60% ■ Canada ■GVA 2 ■GTA 8% 6% 7% 60 to ≤75% 2 >75% 1 LTV ratios for residential mortgages are calculated based on weighted average. See page 25 of the Quarterly Report to Shareholders for further details. 2 GVA and GTA definitions based on regional mappings from Teranet. CIBC CIBC Investor Presentation | 59#60Forward-looking Information Variables used to estimate our Expected Credit Loss¹ Forward-Looking Information Variables Avg. Value over the next 12 months Avg. Value over the remaining forecast period Avg. Value over the next 12 months Avg. Value over the remaining forecast period Avg. Value over the next 12 months Avg. Value over the remaining forecast period As at April 30, 2021 Canadian GDP YOY Growth Base Case Base Case Upside Case Upside Case Downside Case Downside Case 5.3% 2.5% 7.0% 3.3% 3.4% 1.7% US GDP YOY Growth 5.6% 2.8% 7.2% 3.9% 2.2% 1.0% Canadian Unemployment Rate 7.2% 6.1% 6.7% 5.4% 8.4% 7.0% US Unemployment Rate 4.9% 4.0% 4.4% 3.3% 7.1% 6.3% Canadian Housing Price Index Growth 4.7% 4.0% 8.5% 5.6% (2.8)% 1.4% S&P 500 Index Growth Rate 5.0% 5.0% 10.7% 8.8% (7.2)% (5.8)% West Texas Intermediate Oil Price (US$) $59 $61 $70 $75 $46 $48 Forward-Looking Information Variables Avg. Value over the next 12 months Avg. Value over the remaining forecast period Avg. Value over the next 12 months Avg. Value over the remaining forecast period Avg. Value over the next 12 months Avg. Value over the remaining forecast period CIBC As at January 31, 2021 Base Case Base Case Upside Case Upside Case Downside Case Downside Case Canadian GDP YOY Growth 4.0% 3.9% 6.0% 4.4% 2.5% 2.1% US GDP YOY Growth 4.1% 3.2% 5.8% 4.5% 1.8% 1.9% Canadian Unemployment Rate 7.8% 6.1% 7.3% 5.7% 8.6% 7.4% US Unemployment Rate 5.9% 4.1% 4.5% 3.4% 7.4% 5.8% Canadian Housing Price Index Growth 1.5% 3.2% 12.2% 10.2% (9.9)% 0.3% S&P 500 Index Growth Rate 5.0% 5.0% 13.0% 10.8% (5.5)% (2.9)% West Texas Intermediate Oil Price (US$) $50 $55 $54 $62 $41 $46 1 See pages 57 of the Q2/21 Quarterly Report for further details. CIBC Investor Presentation | 60#61Q2 2021 Items of Note Item Amortization of acquisition-related intangible assets Pre-Tax After-Tax & Effect NCI Effect ($MM) ($MM) 20 20 Adjustment to Net Income attributable to common shareholders and EPS 20 20 15 15 EPS Effect ($/Share) 0.04 0.04¹ CIBC Reporting Segments U.S. Commercial Banking & Wealth Management Corporate & Other 1 Includes the impact of rounding differences between diluted EPS and adjusted diluted EPS. CIBC Investor Presentation | 61#62Non-GAAP Financial Measures CIBC We use a number of financial measures to assess the performance of our business lines. Some measures are calculated in accordance with GAAP (IFRS), while other measures do not have a standardized meaning under GAAP, and accordingly, these measures may not be comparable to similar measures used by other companies. Investors may find these non-GAAP measures useful in understanding how management views underlying business performance. Adjusted results are non-GAAP financial measures that do not have any standardized meaning prescribed by GAAP and are therefore unlikely to be comparable to similar measures presented by other issuers. Adjusted results remove items of note from reported results. For further details on items of note, see slide 61 of this presentation. For additional information about our non-GAAP measures see pages 1 to 3 of the Q2/21 Supplementary Financial Information package and pages 16 and 17 of the 2020 Annual Report available on www.cibc.com. CIBC Investor Presentation | 62#63CIBC Investor Relations Contacts GEOFF WEISS, SENIOR VICE PRESIDENT Email: [email protected] Phone: +1 (416) 980-5093 JASON PATCHETT, SENIOR DIRECTOR Email: Jason. [email protected] Phone: +1 (416) 980-8691 ALICE DUNNING, SENIOR DIRECTOR Email: [email protected] Phone: +1 (416) 861-8870 CALLEN GLASS, SENIOR DIRECTOR Email: [email protected] Phone: +1 (416) 594-8188 CIBC CIBC Investor Presentation | 63