#1B Quarterly Results Presentation Fourth Quarter 2022 December 1, 2022 All amounts are in Canadian dollars unless otherwise indicated.#2Forward-Looking Statements Fourth quarter and fiscal 2022 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 Investor Presentation, 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 "Message from the President and Chief Executive Officer", "Overview - Performance against objectives", "Economic and market environment - Outlook for calendar year 2023", "Significant events", "Financial performance overview - Taxes", "Strategic business units overview - Canadian Personal and Business Banking", "Strategic business units overview - Canadian Commercial Banking and Wealth Management", "Strategic business units overview - U.S. Commercial Banking and Wealth Management", "Strategic business units overview - Capital Markets", "Financial condition - Capital management", "Financial condition - Off-balance sheet arrangements", "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", "Accounting and control matters - Other regulatory developments" and "Accounting and control matters - Controls and procedures" sections of our Annual Report and other statements about our operations, business lines, financial condition, risk management, priorities, targets and commitments (including with respect to net-zero emissions), ongoing objectives, strategies, the regulatory environment in which we operate and outlook for calendar year 2023 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 "Economic and market environment - Outlook for calendar year 2023" section of our Annual Report, and are subject to inherent risks and uncertainties that may be general or specific. Given the continuing impact of high inflation, rising interest rates and the war in Ukraine on the global economy, financial markets, and our business, results of operations, reputation and financial condition, 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: inflationary pressures; global supply-chain disruptions; geopolitical risk, including from the war in Ukraine, 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, such as the war in Ukraine, 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; climate change and other environmental and social 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 Investor Presentation 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 Investor Presentation or in other communications except as required by law. CIBC◇ Investor Relations contacts: Geoff Weiss, Senior Vice-President 416 980-5093 Visit the Investor Relations section at www.cibc.com/en/about-cibc/investor-relations.html Fourth Quarter, 2022 2#3CIBC Overview Victor Dodig President & Chief Executive Officer CIBC◇#4CIBC Overview Solid performance in fiscal 2022 despite a challenging macroeconomic backdrop Results reflect strong execution against our strategic priorities Diluted EPS Reported $6.68 Adjusted 1,2 $7.05 Revenue $21.8B YoY +9% Earnings Reported NIAT ROE CET1 Ratio 6 $6.2B YoY -4% -2%2 Adjusted PPPT 2,3 $9.4B YoY -3% +7%2 Reported 4 Adjusted 2,5 14.0% 14.7% 11.7% YoY -65 bps Earnings Growth ⚫5%-10% Return on Equity • 15%+ Operating Leverage • Positive Dividend Payout Ratio • 40%-50% • Reported Adjusted² F22⚫(4%) 3-YR CAGR8.6.1% (2%) 5.8% F22 14.0% 14.7% 3-YR Average • 13.4% 14.4% 2022 Financial Objectives7 e F22 (1.9%) (1.9%) 3-YR Average ⚫ (0.2%) (0.6%) F22.48.8% 46.3% 3-YR Average ⚫53.8% 48.9% Pre-provision, pre-tax earnings (PPPT) is revenue net of non-interest expenses and is a non-GAAP measure. See slide 43 for further details. Certain additional disclosures for these specified financial measures have been incorporated by reference and can be found on page 103 in the 2022 Annual Report, available on SEDAR at www.sedar.com. See note 2 on slide 46. 1 See note 1 on slide 46. 2 Adjusted results are non-GAAP measures. See slides 43-45 for further details. 3 4 5 6 7 8 The 3-year compound annual growth rate (CAGR) is calculated from 2019 to 2022, and the 3-year average is a simple average from 2020 to 2022. Our capital ratios are calculated pursuant to OSFI's Capital Adequacy Requirements (CAR) Guideline, which is based on BCBS standards. For additional information, see the "Capital management" section in the 2022 Annual Report, available on SEDAR at www.sedar.com. Financial objectives are determined on an adjusted basis. Adjusted results are non-GAAP measures. See slide 43 for further details. CIBC◇ Fourth Quarter, 2022 4#5Our Path Moving Forward A modern, relationship-oriented bank that generates value for all stakeholders OUR STRATEGY Focusing on high- growth, high-touch segments Investing in future different- iators Elevating the client experience Emerging Affluent & High Potential Deepen client relationships through personal advice and innovative tools Online / Digitization, Personalized Banking Industry-leading platforms that support seamless digital experiences Accelerating Growth in the Private Economy Enhance capabilities, cross-bank connectivity, and increase North American coverage Increasing Focus on the New Economy Prioritize fintech capabilities, energy transition and the innovation ecosystem CIBC◇ Fourth Quarter, 2022 5#6Key Accomplishments Against Our Strategic Priorities High-growth, high-touch client segments | Client experience | Future differentiators #1 in J.D. Power's Customer Satisfaction for Online Banking Best B2B Brands by Globe and Mail in 2022 for client engagement 2030 financed emissions targets released for Oil & Gas and Power Generation portfolios $133MM NIBT in FY22 in our Innovation Banking platform Top 10 Registered Investment Advisor by Barron's for the third consecutive year +27% in net flows³ in Wood Gundy, driven by new and existing advisors to support integration in the wealth franchise انتا +14% YoY Connectivity Revenue growth¹ Top 10 in North America for financings in the renewables industry² +2MM Costco Mastercard clients transitioned; 30.5K acquired additional CIBC products since March/22 +18% YoY revenue growth in Direct Financial Services as we expanded offerings 1 See note 17 on slide 47. 2 Based on transactions that closed from January 1, 2022 to September 30, 2022 per the North American Renewables League Tables by Inframation. 3 Annual net flows are calculated based on net investment sales and include the impact of reinvested income. CIBC Fourth Quarter, 2022 6#7Furthering Our ESG Strategy Advancing our new strategy by putting ambitions into action. Committed to ESG Leadership & Creating a Competitive Advantage We are focused on embedding ESG principles into our business strategy, purpose and everyday decision-making, while responding to stakeholder interests and operating in line with their expectations to support our business goals. Environmental Social Governance Released 2030 financed emissions targets for Oil & Gas and Power Generation portfolios Targeting 26% growth in the Indigenous wealth and commercial banking business (2022-2024) Goal of zero unresolved privacy findings against our Bank by regulators throughout the year Committed $100MM to climate tech and energy transition funds¹ $155MM CIBC Foundation funding goal² Advancing the Data Ethics Framework to safeguard client data 1 Represents commitment to provide $100MM in limited partnership investments in climate technology and energy transition funds. 2 $155MM funding goal includes $70MM contributed in fiscal 2021. CIBC◇ Fourth Quarter, 2022 7#8Financial Overview Hratch Panossian Senior Executive Vice-President & Chief Financial Officer CIBC◇#9Financial Results Overview Fourth quarter impacted by economic uncertainties and prudent reserve build Earnings Per Share Return on Equity Revenue Operating Leverage¹ $1.26 Reported Adjusted² 10.1% Reported $5.4B +6% YOY (4.7)% Reported Reported & Adjusted² $1.39 Adjusted² 11.2% Adjusted 2,3 (5.8)% PPPT4 PCL Ratio5 CET1 Ratio6 Liquidity Coverage Ratio? $1.9B Reported 33 bps Total Adjusted² $2.1B Impaired 16 bps 11.7% -65 bps YoY vs. OSFI requirement of 10.5% 129% +2% YoY vs. OSFI requirement of >100% Certain additional disclosures for these specified financial measures have been incorporated by reference and can be found on page 103 in the 2022 Annual Report, available on SEDAR at www.sedar.com. Adjusted results are non-GAAP measures. See slides 43-45 for further details. Pre-provision, pre-tax earnings (PPPT) is revenue net of non-interest expenses and is a non-GAAP measure. See slide 43 for further details. 1 2 3 See note 3 on slide 46. 4 5 See notes 5 and 6 on slide 46. 6 OSFI requirement of 10.5% includes Pillar 1 minimum and Domestic Stability Buffer. 7 LCR is calculated pursuant to OSFI's Liquidity Adequacy Requirements (LAR) Guideline, which is based on BCBS standards. For additional information, see the "Liquidity risk" section in the 2022 Annual Report, available on SEDAR at www.sedar.com. CIBC Fourth Quarter, 2022 9#10Financial Results Overview Results reflect core business strength and resilience of our diversified business model Revenue Reported ($MM) Q4/22 YOY QoQ Revenue 5,388 6% • Revenue growth of 6% over the prior year, despite the impact of challenging markets (3%) Net interest income 3,185 7% (2%) • • • • • • Net interest income up 7%, or 12% excluding trading Driven by volume growth across business lines and the benefit of rising interest rates Negatively impacted by lower asset margins Non-interest income down 3% excluding trading Robust growth in trading revenues over prior year Expenses Expense growth of 11% YoY and 9% QoQ (12% and 7% respectively on an adjusted² basis) Reflects impact of inflation, higher investment initiatives, and severance costs mainly in Capital Markets and Corporate & Other Provision for Credit Losses (PCL) PCL increase driven largely by unfavourable changes in the economic outlook Non-interest income 2,203 6% (6%) Expenses 3,483 11% 9% Provision for Credit Losses 436 459% 79% Net Income 1,185 (18%) (29%) Diluted EPS $1.26 (18%) (29%) Efficiency Ratio¹ ROE 64.6% 270 bps 750 bps 10.1% (330) bps (450) bps CET1 Ratio 11.7% (65) bps (4) bps Adjusted² ($MM) Q4/22 YOY QoQ Revenue 5,382 6% (3%) Non-Trading Net Interest Income 3,126 12% 1% Non-Trading Non-Interest Income 1,921 (3%) (7%) Trading Revenue³ 335 13% (17%) Expenses 3,310 12% 7% PPPT4 2,072 (2%) (16%) • Total PCL ratio of 33 bps • PCL ratio on impaired of 16 bps Provision for Credit Losses 436 459% 79% Net Income 1,308 (17%) (24%) Diluted EPS $1.39 (17%) (25%) Efficiency Ratio (TEB)5 60.9% 310 bps 570 bps ROE 11.2% (350) bps (390) bps Certain additional disclosures for these specified financial measures have been incorporated by reference and can be found on page 102 in the 2022 Annual Report, available on SEDAR at www.sedar.com. Adjusted results are non-GAAP measures. See slides 43-45 for further details. 1 2 3 See note 7 on slide 46. 4 5 See note 8 on slide 46. Pre-provision, pre-tax earnings is revenue net of non-interest expenses and is a non-GAAP measure. See slide 43 for further details. CIBC◇ Fourth Quarter, 2022 10#11Net Interest Income (NII) Continued balance sheet growth across business lines anchors net interest income Net Interest Margin on Average Interest-Earning Assets (NIM)1 Deposit Mix³ 1.63% 1.64% 1.68% 1.62% 1.58% 1.60% 1.61% 1.61% 1.61% 1.51% 21% 3,236 3,185 3,132 3,088 141 53 2,980 250 220 195 3,095 3,132 2,785 2,882 2,868 Q4/21 Q1/22 Q2/22 Q3/22 Q4/22 Non-Trading NII ($MM) Trading NII ($MM)2 NIM -NIM (ex. Trading) Average Loans 4,5 ($B, local currency) Q4/21 $456B 54% 27% 25% Interest-Bearing Deposits - Indeterminate Q4/22 $507B 50% 23% Interest-Bearing Deposits - Term Non-Interest- Bearing Deposits Average Deposits4 ($B, local currency) 64 68 +31% YoY +5% QoQ 113 52 38 39 99 +17% YoY +2% QoQ +26% YoY +14% QoQ 90 33 90 92 77 +19% YoY 35 36 +3% QoQ +6% YoY +2% QoQ 34 93 96 +10% YoY +8% YoY +3% QoQ +2% QoQ 88 +10% YoY +3% QoQ 283 307 312 192 206 212 Q4/21 ■Personal & Business Banking ■U.S. Commercial & Wealth Q3/22 Q4/22 ■Cdn. Commercial & Wealth ■Capital Markets Q4/21 Q3/22 ■Personal & Business Banking U.S. Commercial & Wealth Q4/22 ■Cdn. Commercial & Wealth ■Capital Markets Certain additional disclosures for net interest margin on average interest-earning assets (NIM) have been incorporated by reference and can be found on page 102 in the 2022 Annual Report, available on SEDAR at www.sedar.com. See note 7 on slide 46. Deposit base used to determine mix allocation represents client deposits excluding wholesale funding. 1 2 3 4 Average balances are calculated as a weighted average of daily closing balances. 5 Average loans and acceptances, before any related allowances. CIBC◇ Fourth Quarter, 2022 11#12Net Interest Margin (NIM) Deliberate positioning that aims to deliver more predictable NII growth Canadian Personal & Commercial NIM1,2 U.S. Commercial & Wealth NIM1 13 bps Reported 2.52% Adjusted³ 2.51% (11) bps 2.47% 2.47% 3.36% (6) bps 27 bps 5 bps 3.49% (13) bps (6) bps Q3/22 Deposit Margin Asset Margin 4 Mortgage Prepayment Q4/22 Q3/22 Deposit Margin Asset Margin4 CRA Gains5 Mix/ Other Q4/22 Canadian Personal & Commercial NIM (incl. peers) 6,7 U.S. Commercial & Wealth NIM (incl. peers) 6,7 2.47% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2020 2021 2022 2020 2021 2022 CIBC Peers CIBC Peers Q3 3.49% Q4 1 2 3 4 5 6 7 Certain additional disclosures for net interest margin on average interest-earning assets (NIM) have been incorporated by reference and can be found on page 102 in the 2022 Annual Report, available on SEDAR at www.sedar.com. Includes the results of Canadian Personal and Business Banking and Canadian Commercial Banking, as well as Simplii Financial and CIBC Investor's Edge, which are now reported in Capital Markets. Adjusted results are non-GAAP measures. Adjusted NIM on average interest-earning assets is calculated in the same manner as reported NIM on average interest-earning assets, except that adjusted NIM excludes $6MM for Q3/22 and $6MM for Q4/22 for the accretion of the acquisition date fair value discount on the acquired Costco credit card receivables, treated as an item of note, from reported net interest income. See slides 43-45 for further details. Asset margins exclude the impact of mortgage prepayments for Canadian Personal and Commercial and loan repayments for U.S. Commercial and Wealth (included in Mix/Other for U.S Commercial and Wealth). Community Reinvestment Act (CRA) is a United States federal law designed to encourage commercial banks to help meet the needs of borrowers in all segments of their communities. Personal & Commercial NIM has been benchmarked against peers with publicly disclosed data. U.S. Commercial & Wealth NIM has been benchmarked against peers with publicly disclosed data on U.S. operations only. Net interest margin on average interest-earning assets does not have a standardized meaning under GAAP, and accordingly, this measure may not be comparable to similar measures used by our Canadian peer banks. CIBC◇ Fourth Quarter, 2022 12#13Non-Interest Income Strong trading activity offset by lower fees due to market deterioration Non-Interest Income by Category ($MM)4 Market-related (incl. trading) & Transactional Fees4 2,366 2,288 2,335 2,084 2,203 267 314 265 102 Underwrit. & Advis 11% 282 1,197 1,160 1,143 1,134 Mutual Fund 32% Credit 46% Trading 21% FX 10% 1,043 $1.3B +5% YoY $725MM +5% YoY Card 14% Other 4% 690 736 717 700 725 Q4/21 Q1/22 ■Market-related (excl. trading)1 Q2/22 Q3/22 Q4/22 Trading² ■ Transactional1 ■ Other3 • Non-interest income up 6% YoY, or down 3% excluding trading • • Investment Mgmt & Custodial 32% Deposit & Payment 30% Strong trading revenues driven mainly by Foreign Exchange, Interest Rates and Commodities trading Offset by lower market-sensitive fees including mutual fund fees, commissions on securities transactions, investment management and custodial, and underwriting fees Transactional revenues were stable sequentially, and up 5% from the prior year Market-related fees include underwriting and advisory, investment management and custodial, and mutual fund fees, commissions on securities transactions, gains/losses from financial instruments measured at FVTPL, debt securities measured at FVOCI, and the amount of foreign-exchange other than trading income (loss) that is market-driven. Transactional fees include deposit and payment, credit, and card fees, and the portion of foreign exchange other than trading that is transactional in nature. See note 7 on slide 46. 1 2 3 Other primarily includes insurance fees, income from equity-accounted associates and joint ventures, and other. 4 Charts reflect the allocation of foreign-exchange other than trading income (loss) between market-driven and transactional revenues. CIBC◇ Fourth Quarter, 2022 13#14Non-Interest Expenses Higher expenses reflect ongoing investments and the impact of inflationary pressures • Expense growth of 11% (adjusted 1 growth of 12% or 10% excluding severance costs incurred during the quarter) Strategic initiatives focused on long-term growth driving 5% increase YoY, including: • • Expenses associated with the co-brand card portfolio acquired during the year Investment in our U.S. platform to support continued organic growth Remaining increase in operating expenses 5% YoY, including the impact of recent elevated inflation • Low single digits excluding impact of inflation Primarily driven by employee and technology-related costs Expense Growth ($MM) - Adjusted¹ Reported: $3,135MM +5% 143 3,098 Other Adjusted 2,955 Inflation Q4/21 Operating Costs +12% 145 Other Co-Brand & US Investments Strategic Initiatives² Reported: $3,483MM 67 3,310 Severance Q4/22 1 Adjusted results are non-GAAP measures. See slides 43-45 for further details. 2 Initiatives include incremental costs associated with front-line hires related to growth initiatives, investments in enterprise initiatives, investments in infrastructure in the U.S., and other growth initiatives. CIBC◇ Fourth Quarter, 2022 14#15Capital & Liquidity Resilient balance sheet supports organic business growth Capital & Liquidity Positions • • . Balance sheet continues to remain well positioned to support continued organic growth CET1 ratio of 11.7%, down 4 bps sequentially, reflecting: Capital generation from earnings net of dividends more than offset by RWA increases Liquidity position increased sequentially, and well above minimum requirements $B CET1 Ratio Q4/21 Q3/22 Q4/22 Average Loans and Acceptances 455.5 510.0 525.6 Average Deposits CET1 Capital¹ 623.2 673.6 703.8 33.8 35.7 37.0 CET1 Ratio 12.4% 11.8% 11.7% Risk-Weighted Assets (RWA)1 272.8 303.7 315.6 Leverage Ratio¹ 4.7% 4.3% 4.4% Liquidity Coverage Ratio (average) 127% 123% 129% HQLA (average)1 174.7 167.7 181.5 Net Stable Funding Ratio¹ 118% 117% 118% RWA ($B) 13 bps 11.8% 11.7% (5) bps (8) bps (3) bps Q3/22 Earnings Net of Dividends RWA Growth (incl. CCR) Credit Quality Other Q4/22 3.6 0.6 303.7 7.7 315.6 Q3/22 Credit Risk (excl. FX) Market & Operational Risk (excl. FX) FX Q4/22 1 RWA and our capital balances and ratios are calculated pursuant to OSFI's CAR Guideline, the leverage ratio is calculated pursuant to OSFI's Leverage Requirements Guideline, HQLA and NSFR are calculated pursuant to OSFI's LAR Guideline, all of which are based on BCBS standards. For additional information, see the "Capital management" and "Liquidity risk" sections in the 2022 Annual Report available on SEDAR at www.sedar.com. CIBC◇ Fourth Quarter, 2022 15#16Personal & Business Banking Diversified business mix and market share gains reflected in strong revenue growth • • Net interest income increase of 12% YoY driven by strong volume growth (11% on an adjusted basis²) Loan balances up 10% (9% excl. co-brand card acquisition) • Deposit balances up 10% Expenses up 14% YoY • • Reported expenses include transaction and integration costs related to the acquisition of the co-brand credit card portfolio and the amortization of intangible assets Adjusted expenses² up 13% driven by higher spend on strategic initiatives and employee-related compensation (9% excl. co-brand card acquisition) Provision for Credit Losses: • • Total PCL ratio of 39 bps PCL ratio on impaired of 20 bps F22 Key Highlights 12% / 9% Loan & Deposit Growth 3,4 Above market growth5 Adjusted² ($MM) Revenue Reported Q4/22 YOY QoQ Q4/22 YOY QoQ 2,262 Net interest income Non-interest income 1,720 12% 6% (3%) (3%) 2,256 6% (3%) 1,714 11% (3%) 542 (8%) (2%) 542 (8%) (2%) Expenses 1,313 14% 0% 1,288 13% 3% PPPT1 949 (3%) (6%) 968 (2%) (9%) Provision for Credit Losses 305 86% 53% 305 86% 53% Net Income 471 (21%) (21%) 485 (20%) (24%) Loans (Average, $B)³ 312 10% 2% 312 10% 2% Deposits (Average, $B) 212 10% 3% 212 10% 3% Net Interest Margin (bps) 219 2 (10) 219 2 (9) +358K/38% 6 Net New Clients / Affluent Strongest YoY growth since 2017 2nd for Client Experience J.D. Power Client Satisfaction Survey 1 Pre-provision, pre-tax earnings is revenue net of non-interest expenses and is a non-GAAP measure. See slide 43 for further details. Adjusted results are non-GAAP measures. See slides 43-45 for further details. Loan and deposit growth is calculated using average balances. Average balances are calculated as a weighted average of daily closing balances. 2 3 Loan amounts are stated before any related allowances 4 5 6 Based on a comparison to the Big 6 Canadian banks per data published by the Office of the Superintendent of Financial Institutions (OSFI) as of Sept/22. Excluding the acquisition of the Canadian (Costco) co-brand credit card portfolio. CIBC◇ Fourth Quarter, 2022 16#17Canadian Commercial & Wealth Management Continued growth in client franchise and revenue despite market Strong lending volumes and margins driving 28% YoY increase in net interest income • • • Commercial loan balances up 20% Commercial deposit balances up 11% Non-interest income down 3% YoY AUA and AUM down YoY and sequentially due to market depreciation Reported & Adjusted¹ ($MM) Revenue Net interest income Q4/22 YoY QoQ 1,316 6% (2%) 452 28% 2% Non-interest income 864 (3%) (4%) Expenses 658 2% (2%) PPPT² 658 11% (1%) • Decline in transactional revenues and new issuance Provision for Credit Losses 21 $26 $11 activity Net Income 469 6% (3%) • • • • Expenses up 2% driven by higher employee-related costs and investments in strategic initiatives Provision for Credit Losses: Total PCL ratio of 10 bps PCL ratio on impaired of 6 bps F22 Key Highlights 20% / 12% Loan & Deposit Growth 6 Above market growth? 6.6% Annual Net Flows³ / AUA from Private Wealth Management Commercial Banking - Loans (Average, $B)³ Commercial Banking - Deposits (Average, $B) 90 20% 3% 88 11% 5% Net Interest Margin (bps) 338 10 (2) Assets Under Administration 4,5 (AUA, $B) 325 (9%) (3%) Assets Under Management 4,5 (AUM, $B) 209 (9%) (3%) $5.4B Annual Referral Volume⁹ 22% YoY growth Pre-provision, pre-tax earnings is revenue net of non-interest expenses and is a non-GAAP measure. See slide 43 for further details. Comprises loans and acceptances and notional amount of letters of credit. Loan amounts are stated before any related allowances. Assets under management (AUM) are included in assets under administration (AUA). 1 Adjusted results are non-GAAP measures. See slides 43-45 for further details. 2 3 4 5 6 7 8 9 Certain additional disclosures for these specified financial measures have been incorporated by reference and can be found on page 101 in the 2022 Annual Report, available on SEDAR at www.sedar.com. Represents loans and deposits for Commercial Banking and Wealth Management. Loan and deposit growth is calculated using average balances. Average balances are calculated as a weighted average of daily closing balances. Based on Commercial and Business Banking loans and deposits, and a comparison to the Big 6 Canadian banks per data disclosed in Supplementary Financial Information material as of Q3/22. Annual net flows are calculated based on net investment sales from Private Wealth Management and include the impact of reinvested income. A referral is defined as a single opportunity received by one line of business, from another line of business. The opportunity could be for an existing client of the referring party, or a new client to the Bank. CIBC Fourth Quarter, 2022 17#18U.S. Commercial & Wealth Management Maintained market share growth momentum as strategic investment continues Net interest income up 18% YoY primarily due to volume • • • Loan balances up 17% • Deposit balances up 6% NIM up 1 bp YoY and 13 bps sequentially Non-interest income down 12% YoY primarily driven by lower average AUM balances impacted by challenging markets Expenses up 12% YoY Reported expenses include the amortization of acquisition-related intangible assets Adjusted expenses¹ up 13%, primarily due to investments in our employee base, technology and infrastructure Provision for Credit Losses • Total PCL ratio of 76 bps PCL ratio on impaired 26 bps F22 Key Highlights 13% / 7% Loan & Deposit Growth 3,5 Robust annual growth Reported Adjusted¹ (US$ MM) Revenue Q4/22 YOY QoQ Q4/22 YOY QoQ 483 Net interest income 346 8% 18% 2% 483 8% 2% 6% 346 18% 6% Non-interest income 137 (12%) (7%) 137 (12%) (7%) Expenses 264 12% 1% 251 13% 1% PPPT² 219 3% 3% 232 3% 3% Provision for Credit Losses 76 $116 $48 76 $116 $48 Net Income 116 (43%) (24%) 125 (42%) (23%) Loans (Average, $B)³ 39 17% 2% 39 17% 2% Deposits (Average, $B) 36 6% 2% 36 6% 2% Net Interest Margin (bps) 349 1 13 349 1 13 AUA4 ($B) 89 (12%) (4%) 89 (12%) (4%) AUM4 ($B) 68 (12%) (5%) 80 68 (12%) (5%) 6% Annual Net Flows / AUM 6 despite challenging markets $94MM Investments related to the infrastructure build Pre-provision, pre-tax earnings is revenue net of non-interest expenses and is a non-GAAP measure. See slide 43 for further details. 1 Adjusted results are non-GAAP measures. See slides 43-45 for further details. 2 3 Loan amounts are stated before any related allowances or purchase accounting adjustments. 4 5 6 Annual net flows include the impact of reinvested income and are calculated based on net sales as a percentage of assets under management. Assets under management (AUM) are included in assets under administration (AUA). Includes certain Canadian Commercial Banking and Wealth Management assets that U.S. Commercial Banking and Wealth Management provides sub-advisory services for. Loan and deposit growth is calculated using average balances. Average balances are calculated as a weighted average of daily closing balances. CIBC Fourth Quarter, 2022 18#19Capital Markets Revenue growth over the prior year supported by all business lines Revenue growth of 17% over the prior year, despite challenges in the market • • • Continued momentum in Direct Financial Services (DFS) Strong trading revenue (up 16% from the prior year) supported by growth in Foreign Exchange, Interest Rates and Commodities trading Corporate and Investment Banking helped by strong advisory fees and diversified commitment and loan growth, partly offset by lower underwriting revenue Expense growth of 24% driven by investments in strategic initiatives, and higher employee-related costs (including severance costs incurred during the quarter) Reported & Adjusted¹ ($MM) Revenue² Net interest income Q4/22 YOY QoQ 1,182 17% (1%) 600 (13%) (9%) Non-interest income 582 80% 8% Expenses 656 24% 11% PPPT³ 526 9% (13%) Provision for Credit Losses Net Income (1) $33 $8 378 0% (15%) F22 Key Highlights 31% / 17% Loan & Deposit Growth 4,5 Robust annual growth +17% U.S. Revenue Growth $157MM increase over F21 +18% DFS Revenue Growth driven by further expansion of business Revenue is reported on a taxable equivalent basis (TEB). TEB adjustment in Q4/22 was $51 million. 1 Adjusted results are non-GAAP measures. See slides 43-45 for further details. 2 3 4 Loan amounts are before any related allowances or purchase accounting adjustments. 5 Pre-provision, pre-tax earnings is revenue net of non-interest expenses and is a non-GAAP measure. See slide 43 for further details. Loan and deposit growth is calculated using average balances. Average balances are calculated as a weighted average of daily closing balances. CIBC◇ Fourth Quarter, 2022 19#20Corporate & Other Sequential increase in expenses and market headwinds to Treasury revenue . Revenue lower sequentially and relative to the prior year Treasury revenues pressured by increased cost of liquidity and volatility in interest rate and FX markets Offset partly by strong revenue momentum in FCIB from higher product margins, volume growth and fees Expenses down 3% YoY, and up 83% QoQ • • Reported expenses include amortization of acquisition- related intangible assets, a charge related to the consolidation of our real-estate portfolio, and an increase in legal provisions Adjusted expenses² up 2% YoY and 37% QoQ due to timing of investments, employee-related (including severance costs), and inflationary costs Reported Adjusted² ($ MM) Revenue¹ Q4/22 Net interest income Non-interest income Provision for Credit Losses Net Income YOY QoQ Q4/22 (25) ($147) ($134) (53) ($83) ($3) 28 ($64) ($131) 500 ($13) $227 (525) ($134) ($361) 11 $7 $4 (294) ($61) ($241) YOY QoQ (25) ($147) ($134) (53) ($83) ($3) 28 369 ($64) ($131) $8 $99 (394) ($155) ($233) 11 (197) $7 $4 ($76) ($147) Expenses PPPT3 Revenue is reported on a taxable equivalent basis (TEB). TEB adjustment in Q4/22 was $51 million. 1 2 Adjusted results are non-GAAP measures. See slides 43-45 for further details. 3 Pre-provision, pre-tax earnings is revenue net of non-interest expenses and is a non-GAAP measure. See slide 43 for further details. CIBC◇ Fourth Quarter, 2022 20 20#21Fiscal 2022 A successful year against our strategic and financial targets Revenue growth of 9% and PPPT 1,2 of 7% - both in line with high- single digit guidance and our medium-term targets Negative Operating Leverage impacted by market revenue deterioration and investments made this quarter to reposition our Bank for 2023 Reported Return on Equity was 14.0% for the fiscal year Adjusted Return on Equity2 of 14.7% despite market pressures Reported ($MM) Revenue Net Income Diluted EPS Efficiency Ratio ROE FY22 YoY 21,833 9% Net interest income 12,641 10% Non-interest income 9,192 7% Expenses 12,803 11% Provision for Credit Losses 1,057 $899 6,243 (3%) $6.68 (4%) 58.6% 100 bps 14.0% (210) bps CET1 Ratio 11.7% (65) bps Adjusted² ($MM) FY22 YoY Revenue 21,817 9% Net interest income 12,625 10% Non-interest income 9,192 7% Expenses 12,429 11% PPPT1 9,388 7% Provision for Credit Losses 963 $805 Net Income 6,578 (2%) Diluted EPS $7.05 (2%) Efficiency Ratio (TEB) 56.4% 100 bps ROE 14.7% (200) bps 1 2 Pre-provision, pre-tax earnings is revenue net of non-interest expenses and is a non-GAAP measure. See slide 43 for further details. Adjusted results are non-GAAP measures. See slide 43 for further details. CIBC◇ Fourth Quarter, 2022 21#221 Looking Ahead Focus on sustainable growth and outperformance as we build on our progress Earnings Growth ⚫7%-10% Return on Equity • 16%+ by 2025 Medium-Term Targets¹ Operating Leverage • Positive Dividend Payout Ratio •40%-50% Medium-term targets are set through the cycle, and are determined on an adjusted basis. Adjusted results are non-GAAP measures. See slide 43 for further details. CIBC Fourth Quarter, 2022 22#23Risk Overview Frank Guse Senior Executive Vice-President & Chief Risk Officer CIBC◇#24Provision for Credit Losses (PCL) Impaired PCL remains favourable to pre-pandemic • Provision for Credit Losses up YoY and QoQ Impaired provisions up in Q4/22 due to higher provisions net of reversals across all strategic business units (SBUS) Performing provision in Q4/22 mainly due to a change in overall economic outlook and credit migration ($MM) Q4/21 Q3/22 Q4/22 Cdn. Personal & Business Banking 164 200 305 Impaired Performing 87 136 158 77 64 147 Cdn. Commercial Banking & Wealth (5) 10 21 Provision for Credit Losses Ratio¹ Impaired 9 14 Performing (11) 1 7 0.33% U.S. Commercial Banking & Wealth (51) 35 100 0.19% Impaired 8 15 34 0.10% 0.16% Performing (59) 20 66 0.12% 0.07% Capital Markets (34) (9) (1) Impaired 217 (15) (5) Performing (34) 6 4 87 Corporate & Other 4 7 11 219 156 Impaired 11 11 18 112 Performing (7) (4) (7) (34) Total PCL 78 243 436 Q4/21 Q3/22 Q4/22 PCL on Impaired Impaired PCL Ratio1 PCL on Performing Total PCL Ratio1 Impaired Performing 112 156 219 (34) 87 217 1 See notes 5 and 6 on slide 46. CIBC◇ Fourth Quarter, 2022 24#25Allowance Coverage Allowance coverage is well-positioned for the economic outlook Total Allowance coverage ratio down YoY and up QoQ Increase QoQ is due to a higher allowance in both performing and impaired portfolios Current allowance coverage remains higher than the pre-pandemic level Total Allowance Coverage Ratio² Total Allowance Coverage Canadian Credit Cards Q1/20 Q4/20 Q4/21 Q3/22 Q4/22 4.0% 6.2% 5.9% 4.9% 5.3% Canadian Residential Mortgages Canadian Personal Lending Canadian Small Business <0.1% 0.1% <0.1% <0.1% <0.1% 1.3% 1.9% 1.8% 1.9% 2.0% 2.3% 2.9% 2.2% 2.0% 3.1% Canadian Commercial Banking 0.5% 0.9% 0.5% 0.4% 0.5% U.S. Commercial Banking 0.5% 1.4% 0.9% 0.7% 0.8% Capital Markets¹ 0.4% 1.1% 0.5% 0.2% 0.2% CIBC FirstCaribbean (FCIB) Total 3.3% 5.1% 4.8% 4.1% 4.1% 0.51% 0.89% 0.64% 0.58% 0.62% 0.64% 0.62% 0.58% 2,970 Q4/21 Performing and Impaired Allowance Coverage Ratios 42% 38% 38% 0.47% 3,276 3,002 Q3/22 Q4/22 Allowance Coverage Ratio Allowance for Credit Losses ($MM) Capital Markets excludes allowance for credit losses related to Simplii Financial which is included in the respective Canadian retail products. 1 2 See notes 9-11 on slide 46. CIBC◇ Fourth Quarter, 2022 0.46% 0.49% Q4/21 Q3/22 2 -Impaired ACL to GIL Q4/22 -Performing ACL to Performing Loans" 2 25#26Credit Portfolio Breakdown Lending portfolio has a strong risk profile Nearly two-thirds of our portfolio is consumer lending, composed mainly of mortgages with uninsured having an average loan-to-value of 48% Overall Loan Mix (Outstanding Loans and Acceptances) • • The total variable rate mortgage portfolio with fixed payments accounts for 38% of the Canadian mortgage portfolio The balance of our portfolio is in business and government lending with an average risk rating equivalent¹ to a BBB Consumer 62% Canadian Uninsured Mortgage Loan-To-Value² Ratios 54% 52% 50% 49% 48% 48% 48% 47% 47% 46% 45% 44% Q4/19 Q4/20 Q4/21 Q4/22 3 Canada GVA GTA³ 1 2 3 Incorporates security pledged; equivalent to S&P/Moody's rating of BBB/Baa2. LTV ratios for residential mortgages are calculated based on weighted average. See pages 66-67 of the 2022 Annual Report for further details. GVA and GTA definitions based on regional mappings from Teranet. CIBC Real Estate Secured Lending 55% $529B Cards 3% Personal Lending 3% Auto Lending 1% Commercial Real Estate 10% Other Business & Government 25% Business & Government 38% Retailers 1% Oil & Gas 1% Leisure & Entertainment 1% Fourth Quarter, 2022 26#27Credit Performance - Gross Impaired Loans Gross impaired loan ratios down YoY and stable QoQ While the total bank gross impaired ratio was stable QoQ, impaired dollars were up slightly mainly attributable to the retail portfolio New formations remain stable and low from a historical perspective Gross Impaired Loan Ratio² 0.39% Gross Impaired Loan Ratios Q4/21 Q3/22 Q4/22 Canadian Residential Mortgages 0.17% 0.14% 0.13% Canadian Personal Lending 0.26% 0.34% 0.37% Business & Government Loans¹ 0.59% 0.44% 0.41% CIBC FirstCaribbean (FCIB) 4.33% 4.18% 4.10% Total 0.39% 0.33% 0.33% New Formations ($MM)² 0.33% 0.33% 537 456 483 485 442 151 91 81 109 140 1,833 1,701 1,743 375 333 343 386 394 Q4/21 Gross Impaired Loans ($MM) Q3/22 1 Excludes CIBC FirstCaribbean business & government loans. 2 See notes 12-13 on slide 47. CIBC Q4/22 Gross Impaired Loan Ratio Q4/21 Q1/22 Q2/22 Fourth Quarter, 2022 Q3/22 Q4/22 Consumer ■ Business & Government 27#28Canadian Consumer Lending Write-offs and delinquencies are in line with expectations Write-offs: Credit Card net write-off ratio YoY increase was mainly driven by return to normal levels, partially offset by the favourable performance of the acquired co-brand portfolio QoQ increase was due to returning towards pre-pandemic levels and seasoning of the co-brand portfolio Personal Lending YoY increase was mainly driven by a returning to normal upward trend 90+ Days Delinquencies: Credit Card and Personal Lending YoY increases were mainly driven by return towards pre-pandemic levels Reported Net Write-Offs Total Q4/21 Q3/22 Q4/22 Canadian Residential Mortgages Canadian Credit Cards Personal Lending 0.01% 0.01% <0.01% 1.83% 2.02% 2.20% 0.39% 0.52% 0.51% 0.13% 0.17% 0.18% Q4/21 Q3/22 Q4/22 0.17% 0.14% 0.13% 0.14% 0.11% 0.11% 0.29% 0.26% 0.24% 0.58% 0.66% 0.74% 0.26% 0.34% 0.37% 0.20% 0.19% 0.20% 90+ Days Delinquency Rates¹ Canadian Residential Mortgages Uninsured Insured Canadian Credit Cards Personal Lending Total Net Write-off Ratio¹ Balances ($B; principal) 315 319 291 16 17 11 39 40 37 54 53 60 0.17% 0.18% 0.13% 95 137 206 183 142 Q4/21 Q3/22 1 Q4/22 Net Write-offs ($MM) Net Write-off Ratio Q4/21 Q3/22 209 Q4/22 ■Uninsured Mortgages Insured Mortgages Personal Lending Cards 1 2 Capital Markets excludes allowance for credit losses related to Simplii Financial which is included in the respective Canadian retail products. See notes 14-16 on slide 47. CIBC◇ Fourth Quarter, 2022 28#29Canadian Real Estate Secured Personal Lending GVA and GTA continue to perform well • Mortgage growth has been driven by clients that have deep and balanced relationships with CIBC 88% of mortgages are owner-occupied. Investor mortgages performance is strong and compares favourably with owner-occupied mortgages • The Greater Vancouver Area¹ (GVA) and Greater Toronto Area¹ (GTA) continue to perform well and have superior new origination bureau and LTV than the Canadian average Mortgages 90+ Day Delinquency Rates - Investor vs. 90+ Days Delinquency Rates F19 Avg. Q4/21 Q3/22 Q4/22 Owner Occupied Total Mortgages 0.27% 0.17% 0.14% 0.13% 0.40% Uninsured Mortgages 0.22% 0.14% 0.11% 0.11% 0.30% Uninsured Mortgages in GVA¹ 0.13% 0.13% 0.08% 0.07% Uninsured Mortgages in GTA¹ 0.13% 0.08% 0.06% 0.08% 0.20% 0.10% Uninsured Mortgages in Oil Provinces² 0.59% 0.47% 0.41% 0.40% 0.00% Q4/17 Q4/18 Q4/19 Q4/20 Q4/21 Q4/22 Investor Owner Occupied Mortgage Balances ($B; principal) 243 132 260 262 140 141 HELOC Balances ($B; principal) 18.8 10.4 19.4 19.4 10.6 10.6 79 86 87 6.0 6.3 6.3 32 Q4/21 34 Q3/22 34 2.4 2.5 2.5 Q4/22 Q4/21 Q3/22 Q4/22 ■ GVA1 ■GTA1 ■ Other Region ■ GVA¹ ■GTA ■ Other Region 1 2 GVA and GTA definitions based on regional mappings from Teranet. Alberta, Saskatchewan and Newfoundland and Labrador. CIBC◇ Fourth Quarter, 2022 29#30Canadian Mortgages Renewing in the Next 12 Months The portfolio is resilient to interest rate increases, with renewal metrics stable QoQ • There are $28B of mortgages renewing in the next 12 months based on current terms - $20B fixed and $8B variable. 72% of $28B is uninsured As interest rates rise, most of our variable rate mortgages with fixed payments are impacted through an extension of amortization until renewal At renewal, the mortgage reverts to the original amortization schedule, which may require additional payments Proactive outreach included a number of programs and initiatives throughout the year to help our clients through a rising rate environment $28B mortgages renewing in the next 12 months $234B 1 Clients at higher risk comprises shallower relationship clients and FICO score < 650. CIBC Uninsured mortgages for clients at higher risk¹ renewing in the next 12 months by LTV bands $140MM Variable $120MM Rate, $8B $100MM ■ Variable Fixed $80MM $60MM $40MM $20MM $OMM Fixed Rate, $20B <20 20-30 30-40 40-50 50-60 60-70 70-80 ≥80 Less than $20MM comprising balances with higher risk clients and LTVs ≥ 70% Higher risk clients renewing in the next 12 months account for $336MM Fourth Quarter, 2022 30#31Canadian Uninsured Residential Mortgages FICO score and LTV distributions remain healthy Less than 1% of this portfolio has a FICO score of 650 or lower and an LTV1 over 75% FICO score Distribution 43%45%44%43% 26% 26% 27% 22% 11%10%10% 12% 16% 19% 16% 14% 4% 4% 4% 4% ≤650 651-700 701-750 751-800 >800 2 2 ■Canada Total ■GVA ■GTA ■Canada Variable Rate Loan-to-Value (LTV)1 Distribution 24% 28% 26% 26% 29% 28% 26% 27% 27% 20% 121% 18% 21% 20% 14% 15% 11% 7% 8% 4% <30% 30 to <45% 45 to <60% 60 to ≤75% >75% 2 2 ■Canada Total ■GVA ■GTA ■Canada Variable Rate 1 LTV ratios for residential mortgages are calculated based on weighted average. See pages 66-67 of the 2022 Annual Report for further details. 2 GVA and GTA definitions based on regional mappings from Teranet. CIBC◇ Fourth Quarter, 2022 31#32Commercial Real Estate Commercial real estate exposure is well diversified . • Gross impaired loans as a percentage of total Canadian & U.S. real estate is 30bps Five-year average loan losses for Canadian & U.S. real estate is 13bps Canadian Commercial Real Estate Exposure by Sector¹ Seniors Housing 5% Residential 21% Office 10% Other 4% Multi Family 26% $38.9B Retail 23% Industrial 11% . 68% of drawn loans investment grade³ U.S. Commercial Real Estate Exposure by Sector² Other 16% Hotel 2% Healthcare 3% Multi Family 31% Residential 2% Office 22% US$18.4B Industrial 17% Retail 7% . 34% of drawn loans investment grade³ 1 Includes $3.6B in Multi Family that is reported in residential mortgages in the Supplementary Financial Information package. 2 3 Includes US$1.7B in loans that are reported in other industries in the Supplementary Financial Information package, but are included here because of the nature of the security. Incorporates security pledged; equivalent to S&P/Moody's rating of BBB-/Baa3 or higher. CIBC◇ Fourth Quarter, 2022 32#33In Summary Strong credit performance despite macroeconomic uncertainties Key Takeaways Increased allowance for forecasted economic slowdown Credit performance in line with expectations throughout the year Proactively monitoring portfolio performance considering macroeconomic uncertainty CIBC◇ Fourth Quarter, 2022 33 33#34Appendix CIBC◇#35Our Digital Footprint Growing Digital Adoption & Engagement¹ Digital Adoption Rate² 6.0% Active Digital Banking Users³ (MM) Active Digital Banking Users³ (Existing Personal Banking Clients vs. Co-brand) 39.8% 6.3 93% 82.8% 78% 76.8% 4.5 Q4/21 Digital Channel Usage (# of Sessions, MM) 19.3% Q4/22 Q4/21 Digital Transactions4 (MM) 12.7% Q4/22 Existing Clients New (Costco) Clients Transactions by Channel4 7.1% 6.5% 61 51 301 252 16 16 92.9% 93.5% 55 61 Q4/21 Q4/22 Q4/21 Q4/22 ■ e Transfers ■ Bill Payments ■ Other5 Q4/21 ■Digital Channel Q4/22 ■Non-Digital Channel Canadian Personal Banking only, excluding Simplii Financial. Based on spot balances as at October 31 for the respective periods. Digital Adoption (Penetration) Rate represents the percentage share of Digital Registered Customers who have been engaged on CIBC Online Banking and/or CIBC Mobile Banking at least once in the last 90 calendar days out of all Canadian Personal Banking customers engaged across any channel. 1 2 3 Active Digital Users represent the 90-day Active clients in Canadian Personal Banking. 4 Reflects financial transactions only. 5 Other includes transfers and eDeposits. CIBC◇ Fourth Quarter, 2022 35#36Canadian Personal & Commercial Banking 1 Strong loan and deposit growth underlying the Canadian P&C business Net Income Net Interest Margin on Average Interest Earning Assets (bps) 1 2 252 251 917 926 1018 1028 Reported: 235 Adjusted: 235 239 236 238 837 918 985 1027 236 856 870 247 247 Q4/21 Q1/22 Q2/22 Q3/22 Q4/22 Q4/21 ■ Reported ■ Adjusted² Q1/22 Reported NIM (bps) Q2/22 Q3/22 - Adjusted NIM (bps)² Q4/22 Average Loans ($B) 3,4 +12% Average Deposits ($B)3 +10% 406 413 368 320 329 300 91 93 78 117 120 110 290 Q4/21 315 320 190 Q3/22 Q4/22 ■ Personal 5 ■ Business Q4/21 203 Q3/22 ■ Personal ■ Business 209 Q4/22 Includes the results of Canadian Personal and Business Banking and Canadian Commercial Banking, as well as Simplii Financial and CIBC Investor's Edge, which are now reported in Capital Markets. Adjusted results are non-GAAP measures. See slides 43-45 for further details. Q4/21, Q1/22, Q2/22, Q3/22 and Q4/22 adjusted net income exclude ($9MM), ($10MM), ($81MM). ($42MM) and ($14MM) after-tax, respectively, in items associated with the acquisition of the Canadian Costco credit card portfolio. Adjusted NIM excludes $4MM for Q2/22, $6MM for Q3/22 and $6MM for Q4/22 for the accretion of the acquisition date fair value discount on the acquired Costco credit card receivables, treated as an item of note, from reported net interest income. 3 Average balances are calculated as a weighted average of daily closing balances. 4 Average loans and acceptances, before any related allowances. 5 Commercial Banking loans comprise loans and acceptances and notional amount of letters of credit. CIBC◇ Fourth Quarter, 2022 36#37U.S. Commercial & Wealth Management (C$) Maintained market share growth momentum as strategic investment continues Net interest income up 27% YoY primarily due to volume • Loan balances up 26% YoY • Deposit balances up 14% YoY • • NIM up 1bp YoY and 13 bps QoQ Non-interest income down 4% YoY primarily driven by lower average AUM balances • Asset management fees impacted by market depreciation, driving a 3% AUM decline YoY Expenses up 20% YoY Adjusted expenses¹ up 21% primarily due to investments in our employee base and infrastructure, including risk capabilities Provision for Credit Losses: Total PCL ratio of 76 bps PCL ratio on impaired 26 bps F22 Key Highlights 17% / 10% Loan & Deposit Growth 3,5 Robust annual growth Reported Adjusted¹ ($MM) Revenue Q4/22 YOY QoQ Q4/22 YOY QoQ 653 16% 8% 653 16% 8% Net interest income 466 27% 12% 466 27% 12% Non-interest income 187 (4%) (1%) 187 (4%) (1%) Expenses 356 20% 7% 339 21% 7% PPPT² 297 12% 10% 314 11% 9% Provision for Credit Losses 100 $151 $65 100 $151 $65 Net Income 161 (37%) (17%) 173 (35%) (16%) Loans (Average, $B)³ 53 26% 8% 53 26% 8% Deposits (Average, $B) 49 14% 8% 49 14% 8% Net Interest Margin (bps) 349 1 13 349 1 13 AUA4 ($B) 121 (3%) 2% 121 (3%) 2% AUM ($B) 93 (3%) 1% 93 (3%) 1% 6% Annual Net Flows / AUM 6 despite challenging markets $121MM Investments related to the infrastructure build 1 Adjusted results are non-GAAP measures. See slides 43-45 for further details. 2 3 Loan amounts are stated before any related allowances or purchase accounting adjustments. 4 Pre-provision, pre-tax earnings is revenue net of non-interest expenses and is a non-GAAP measure. See slide 43 for further details. Assets under management (AUM) are included in assets under administration (AUA). Includes certain Canadian Commercial Banking and Wealth Management assets that U.S. Commercial Banking and Wealth Management provides sub-advisory services for. 5 Loan and deposit growth is calculated using average balances. Average balances are calculated as a weighted average of daily closing balances. 6 Annual net flows include the impact of reinvested income and are calculated based on net sales as a percentage of assets under management. CIBC◇ Fourth Quarter, 2022 37#381 2 3 Interest Sensitivity Well-positioned for rising interest rates Net Interest Income Sensitivity to a +/- 100 bps change ($MM) 1,2 Year 1 SBU Composition of Structural Interest Rate Sensitivity 1,2 2% 271 (297) Interest Rate Environment in Canada and the U.S.3 6.00 Historical Actuals 5.00 16% 4.00 3.00 50% 17% Q4/22 2.00 1.00 15% Feb-17 Aug-17- Feb-18 Implied Forwards Aug-18 Feb-19 Aug-19- Feb-20 Aug-20 Feb-21 Aug-21 Feb-22 Aug-22 Feb-23 Aug-23- Feb-24 Aug-24 +100 bps - 100 bps Personal & Business Banking U.S. Commercial & Wealth Cdn. Commercial & Wealth Capital Markets CAD 5-YR Swap Rate BoC Overnight Rate USD 5-YR Swap Rate Fed Funds Rate Corporate & Other Year 1 benefit of approximately $271MM from an immediate and sustained 100 bps increase to our net interest income as at October 31, 2022, with approximately 30% driven by short-term rates Year 2 benefit from rising rates (+100 bps) of approximately $650MM, driven primarily by long rates CIBC◇ A number of assumptions are used to measure Structural Interest Rate Sensitivity. For additional information, see the "Market risk" Non-trading activities section on page 74 in the 2022 Annual Report, available on SEDAR at www.sedar.com. SBU allocation includes the structural repricing exposure arising from our capital and zero/partially rate sensitive deposits and excludes exposure from other short-term factors such as rate resets and position management. Source: Bloomberg, November 18, 2022. Fourth Quarter, 2022 38#39Canadian Uninsured Residential Mortgages - Q4/22 Originations¹ Credit quality of new originations continues to remain high • Originations of $11B in Q4/22 . Average LTV2 in Canada: 65%, GVA³: 62%, GTA³: 65% FICO score Distribution 3% 3% 3% 3% ≤650 14% 11% 13% 14% 41% 44% 43% 42% 30% 28% 28% 29% 14% 13% 12% 12% 651-700 701-750 751-800 >800 ■Canada Total ■GVA ■GTA³ ■Canada Variable Rate Loan-to-Value (LTV)2 Distribution 46% 40% 38% 35% 30% 32% 30% 26% 21% 17% 17% 14% 12% 9% 6% 9% 7% 4% 4% 3% <30% 30 to <45% 45 to <60% 60 to ≤75% >75% 3 3 ■Canada Total ■GVA ■GTA ■Canada Variable Rate Originations include refinancing of existing mortgages but not renewals. LTV ratios for residential mortgages are calculated based on weighted average. See pages 66-67 of the 2022 Annual Report for further details. 1 2 3 GVA and GTA definitions based on regional mappings from Teranet. CIBC◇ Fourth Quarter, 2022 39#40Trading Revenue (TEB) Distribution¹ Robust trading performance in recent volatile market ($MM) 20 20 1 10 0 (10) (20) Aug-22 Sep-22 Trading Revenue -VaR See note 7 on slide 46. CIBC◇ Fourth Quarter, 2022 ($MM) 20 20 10 0 (10) Oct-22 (20) 40#41Forward Looking Information Variables used to estimate our Expected Credit Losses¹ Forward-Looking Information Variables Avg. Value over the next 12 months Base Case Avg. Value over the remaining forecast period Base Case Avg. Value over the next 12 months Avg. Value over the remaining forecast period Upside Case Avg. Value over the next 12 months Avg. Value over the remaining forecast period As at October 31, 2022 Canadian GDP YOY Growth US GDP YOY Growth Upside Case Downside Case Downside Case 0.8% 1.5% 3.9% 2.8% (0.6)% 1.0% 0.7% 1.3% 2.9% 3.0% (2.1)% 0.4% Canadian Unemployment Rate 5.5% 5.9% 4.9% 5.6% 6.0% 6.8% US Unemployment Rate 4.0% 4.2% 3.3% 3.3% 5.6% 5.1% Canadian Housing Price Index YoY Growth (2.5)% 1.9% 10.1% 6.6% (13.1)% (5.2)% S&P 500 Index YoY Growth Rate (1.4)% 6.0% 6.3% 12.1% (13.4)% (1.3)% 15.5% $92 15.1% $81 Base Case Downside Case Downside Case 2.5% 1.8% 4.2% 2.8% 1.1% 1.1% 1.7% 1.8% 3.6% 3.1% 0.0% (0.1)% Canadian Unemployment Rate 5.5% 5.8% 5.1% 5.3% 6.0% 6.6% US Unemployment Rate 3.8% 3.9% 3.2% 3.3% 4.6% 4.7% Canadian Housing Price Index YoY Growth 3.8% 0.9% 13.1% 6.3% (5.7)% (6.6)% S&P 500 Index YoY Growth Rate (0.5)% 5.4% 6.3% 9.8% (10.9)% (8.8)% Canadian Household Debt Service Ratio 14.8% 14.9% 14.1% 14.5% 15.3% 15.1% West Texas Intermediate Oil Price (US$) $99 $84 $127 $123 $81 $57 Canadian Household Debt Service Ratio West Texas Intermediate Oil Price (US$) Forward-Looking Information Variables² As at July 31, 2022 Canadian GDP YOY Growth US GDP YOY Growth Avg. Value over the next 12 months Avg. Value over the remaining forecast period Base Case Avg. Value over the next 12 months Upside Case Avg. Value over the remaining forecast period Upside Case Avg. Value over the next 12 months Avg. Value over the remaining forecast period 14.4% 14.5% 15.9% 15.2% $119 $107 $76 $56 1 See page 147 of the 2022 Annual Report for further details. 2 See page 73 of the Q3 2022 Quarterly Report for further details. CIBC Fourth Quarter, 2022 41#42Items of Note Fourth quarter and fiscal 2022 Period Acquisition and integration-related costs as Q4/22 FY/22 After- Pre-Tax Tax & EPS Pre-Tax Effect NCI ($MM) Effect Effect ($/Share) Effect ($MM) After-Tax & NCI Effect ($MM) EPS Effect ($/Share) ($MM) Reporting Segments well as purchase accounting adjustments and provision for credit losses for performing loans associated with the acquisition of the 12 8 0.01 181 133 0.15 Canadian Personal and Business Banking Canadian Costco credit card portfolio¹ Increase in legal provisions 91 20 Corporate and Other 67 0.07 136 100 0.11 Canadian Personal and Business Banking Amortization of acquisition-related intangible 27 21 0.02 98 75 0.08 U.S. Commercial and Wealth assets Management Corporate and Other Charge related to the consolidation of our real estate portfolio 37 27 0.03 37 Adjustment to Net Income attributable to common shareholders and EPS 167 123 0.13 452 335 0.37 40 27 27 0.03 Corporate and Other 1 Acquisition and integration costs are comprised of incremental costs incurred as part of planning for and executing the integration of the Canadian Costco credit card portfolio, including enabling franchising opportunities, the upgrade and conversion of systems and processes, project delivery, communication costs and client welcome bonuses. Purchase accounting adjustments include the accretion of the acquisition date fair value discount on the acquired Costco credit card receivables. Provision for credit losses for performing loans associated with the acquisition of the Canadian Costco credit card portfolio, included the stage 1 ECL allowance established immediately after the acquisition date and the impact of the migration of stage 1 accounts to stage 2 during the second quarter of 2022. CIBC Fourth Quarter, 2022 42#43Non-GAAP Measures Fourth quarter and fiscal 2022 We use a number of financial measures to assess the performance of our business lines. Some measures are calculated in accordance with International Financial Reporting Standards (IFRS or GAAP), 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, which include non-GAAP financial measures and non-GAAP ratios as defined in National Instrument 52-112 “Non-GAAP and Other Financial Measures Disclosure", useful in understanding how management views underlying business performance. Management assesses results on a reported and adjusted basis and considers both as useful measures of performance. Adjusted measures, which include adjusted total revenue, adjusted provision for credit losses, adjusted non-interest expenses, adjusted income before income taxes, adjusted income taxes, adjusted net income and adjusted pre-provision, pre-tax earnings, in addition to the adjusted measures on slide 46, remove items of note from reported results and are used to calculate our adjusted results. Items of note include the amortization of intangible assets, and certain items of significance that arise from time to time which management believes are not reflective of underlying business performance. Adjusted measures represent non-GAAP measures. We also adjust our results to gross up tax-exempt revenue on certain securities to a TEB, being the amount of fully taxable revenue, which, were it to have incurred tax at the statutory income tax rate, would yield the same after-tax revenue. Certain additional disclosures for these specified financial measures have been incorporated by reference and can be found in the "Non-GAAP measures" section on pages 14 to 20 of our 2022 Annual Report, available on SEDAR at www.sedar.com. CIBC◇ Fourth Quarter, 2022 43#44Reconciliation GAAP (reported) to non-GAAP (adjusted) results¹ $MM Canadian Canadian Commercial Personal & Business Banking Banking & Wealth Management U.S. Commercial Banking & Wealth Management (C$) Capital Markets Corporate & Other CIBC Total U.S. Commercial Banking & Wealth Management (US$) Q4/22 Reported net income (loss) 471 469 161 378 (301) 1,185 116 After-tax impact of items of note² 14 12 97 123 9 Adjusted net income (loss)³ 485 469 173 378 (197) 1,308 125 Q3/22 Reported net income (loss) 595 484 193 447 (53) 1,666 152 After-tax impact of items of note² 42 13 3 58 10 Adjusted net income (loss)³ 637 484 206 447 (50) 1,724 162 Q4/21 Reported net income (loss) 597 442 256 378 (233) 1,440 204 After-tax impact of items of note² Adjusted net income (loss) 3 9 - 12 - 112 133 10 606 442 268 378 (121) 1,573 214 Q4/22 Reported non-interest expenses Pre-tax impact of items of note² 1,313 658 356 656 500 3,483 264 25 17 131 173 13 Adjusted non-interest expenses³ 1,288 658 339 656 369 3,310 251 Q3/22 Q4/21 Reported non-interest expenses Pre-tax impact of items of note² Adjusted non-interest expenses³ Reported non-interest expenses Pre-tax impact of items of note² 1,313 670 334 593 273 3,183 261 63 17 3 83 13 1,250 670 317 593 270 3,100 248 1,152 646 296 528 513 3,135 235 Adjusted non-interest expenses³ 12 1,140 - 16 - 152 180 13 646 280 528 361 2,955 222 The quantitative reconciliations for these non-GAAP measures for the years ended October 31, 2022 and October 31, 2021 have been incorporated by reference and can be found in the Non-GAAP measures section on pages 14 to 20 of our 2022 Annual Report, available on SEDAR at www.sedar.com. 1 2 Reflects Items of Note under the 2022 Financial Results Review section of the 2022 Annual Report. 3 This is a non-GAAP measure. See slide 43 for further details. CIBC Fourth Quarter, 2022 44#45Reconciliation GAAP (reported) to non-GAAP (adjusted) results¹ $MM Canadian Personal & Business Banking Canadian Commercial Banking & Wealth Management U.S. Commercial Banking & U.S. Commercial Banking & Wealth Management Wealth Capital Corporate CIBC Management (C$) Markets & Other Total (US$) Q4/22 Net income (loss) 471 469 161 378 (294) 1,185 116 Add: provision for (reversal of) credit losses 305 21 100 (1) 11 436 76 Add: income taxes 173 168 36 149 (242) 284 27 Pre-provision, pre-tax earnings (losses) 2 949 658 297 526 (525) 1,905 219 Pre-tax impact of items of note³ 19 17 131 167 13 Adjusted pre-provision, pre-tax earnings (losses) 2 968 658 314 526 (394) 2,072 232 Q3/22 Net income (loss) 595 484 193 447 (53) 1,666 152 Add: provision for (reversal of) credit losses 200 10 35 (9) 7 243 28 Add: income taxes 213 174 42 168 (118) 479 32 Pre-provision, pre-tax earnings (losses)² 1,008 668 270 606 (164) 2,388 212 Pre-tax impact of items of note³ 57 17 3 77 13 Adjusted pre-provision, pre-tax earnings (losses)² 1,065 668 287 606 (161) 2,465 225 Q4/21 Net income (loss) 597 442 256 378 (233) 1,440 204 Add: provision for (reversal of) credit losses 164 (5) (51) (34) 4 78 (40) Add: income taxes 215 157 61 140 (162) 411 49 Pre-provision, pre-tax earnings (losses)² 976 594 266 484 (391) 1,929 213 Pre-tax impact of items of note³ 12 16 152 180 13 Adjusted pre-provision, pre-tax earnings (losses)² 988 594 282 484 (239) 2,109 226 The quantitative reconciliations for these non-GAAP measures for the years ended October 31, 2022 and October 31, 2021 have been incorporated by reference and can be found in the Non-GAAP measures section on pages 14 to 20 of our 2022 Annual Report, available on SEDAR at www.sedar.com. 1 2 This is a non-GAAP measure. See slide 43 for further details. 3 Reflects Items of Note under the 2022 Financial Results Review section of the 2022 Annual Report. CIBC◇ Fourth Quarter, 2022 45#46Glossary Fourth quarter and fiscal 2022 Definition 1 Adjusted Diluted EPS 2 Adjusted ROE 3 Adjusted Operating Leverage 4 Adjusted Total PCL Ratio 5 Total PCL Ratio 6 Impaired PCL Ratio 7 Trading Revenues 8 Adjusted Efficiency Ratio 9 Total Allowance Coverage Ratio 10 Impaired ACL to GIL 11 Performing ACL to Performing Loans CIBC We adjust our reported diluted EPS to remove the impact of items of note, net of income taxes, to calculate the adjusted EPS. We adjust our reported net income attributable to common shareholders to remove the impact of items of note, net of income taxes, to calculate the adjusted return on common shareholders' equity. We adjust our reported revenue and non-interest expenses to remove the impact of items of note and gross up tax-exempt revenue to bring it to a TEB, to calculate the adjusted operating leverage. We adjust our reported provision for (reversal of) credit losses to remove the impact of items of note, to calculate the adjusted total PCL ratio. Provision for (reversal of) credit losses to average loans and acceptances, net of allowance for credit losses. Provision for (reversal of) credit losses on impaired loans to average loans and acceptances, net of allowance for credit losses. Trading activities is based on the risk definition of trading for regulatory capital and trading market risk. Positions in a trading book are considered trading provided the book and positions continue to meet OSFI-defined trading book criteria set out in OSFI's CAR guideline. Trading revenue comprises net interest income and non-interest income. Net interest income arises from interest and dividends related to trading assets and liabilities other than derivatives and is reported net of interest expense and income associated with funding these assets and liabilities. Non-interest income includes unrealized gains and losses on security positions held, and gains and losses that are realized from the purchase and sale of securities. Non-interest income also includes realized and unrealized gains and losses on trading derivatives. Trading revenue includes the impact of funding valuation adjustments and related hedges, which are not considered trading activities for regulatory purposes. Trading revenue excludes underwriting fees and commissions on securities transactions, which are shown separately in the consolidated statement of income. We adjust our reported revenue and non-interest expenses to remove the impact of items of note and gross up tax-exempt revenue to bring it to a TEB, to calculate the adjusted efficiency ratio. Total allowance for credit losses to gross carrying amount of loans. The gross carrying amount of loans include certain loans that are measured at FVTPL. Allowance for credit losses on impaired loans as a percentage of gross impaired loans. Allowance for credit losses on performing loans as a percentage of the gross carrying amount of performing loans. The gross carrying amount of performing loans include certain loans that are measured at FVTPL. Fourth Quarter, 2022 46#47Glossary Fourth quarter and fiscal 2022 Definition 12 Gross Impaired Loan Ratio 13 New Formations 14 Net Write-Off Ratio 15 90+ Days Delinquency Rate 16 Net Write-Offs 17 Connectivity Revenue Gross impaired loans as a percentage of the gross carrying amount of loans. The gross carrying amount of loans include certain loans that are measured at FVTPL. New formations represent gross carrying amount of loans which are newly classified as impaired during the quarter. Net write-offs as a percentage of average loan balances. 90+ days delinquencies as a percentage of the gross carrying amount of loans. Net write-offs include write-offs net of recoveries. Revenue from non-traditional Capital Markets clients, leveraging the full suite of Capital Markets products and services across the Bank's Canadian and U.S. Commercial clients, high net worth individuals and retail clients. CIBC◇ Fourth Quarter, 2022 47