#1CIBC Investor Presentation First Quarter 2020 February 26, 2020#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 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 2020 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. 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: credit, market, liquidity, strategic, insurance, operational, reputation, conduct and legal, regulatory and environmental risk; 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 Dodd-Frank Wall Street Reform and Consumer Protection Act and the regulations issued and to be issued thereunder, 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, public health emergencies, 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; currency value and interest rate fluctuations, including as a result of market and oil price volatility; 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 synergies and benefits of an acquisition 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 Investor Relations contacts: Geoff Weiss, Senior Vice-President Investor Relations Fax Number 416 980-5093 416 980-5028 Visit the Investor Relations section at www.cibc.com 2#3CIBC Overview Victor Dodig President and Chief Executive Officer CIBC#4First Quarter 2020 Key Performance Measures EPS Efficiency Ratio CET1 Ratio Reported $2.63 Reported 63.1% 11.3% +4 bps YoY $3.24 Adjusted¹ Adjusted¹ +8% YOY 55.0% +60 bps YoY 2020 Guidance Low Single Digit 2022 Guidance² - 53.5% 54.0% 2020 Guidance 11.0% 11.5% ROE PCL Ratio on Impaired Dividend Payout Ratio Trailing 12 Months 50.6% Reported 13.1% Reported 0.24% -6 bps YoY Adjusted¹ 16.1% +10 bps YoY 46.7% Adjusted¹ +200 bps YoY Target³ 15%+ 2020 Guidance <0.30% Target³ 40% - 50% CIBC 1 Adjusted results are non-GAAP financial measures. See slide 28 for further details. 2 2017 Investor Day target of 52.0% by F2022, adjusted for macroeconomic factors. 3 2017 Investor Day through the cycle target. 4#5Accelerating our transformation journey CIBC $ • Purpose-led culture A relentless focus on deepening client relationships Investing in new technology to service our clients. Flexible, progressive workplace that inspires and enables greater connectivity Optimize efficiency • • Leveraging technologies to drive efficiencies Enterprise-wide restructuring to accelerate delivery on priorities Reskilling/upskilling talent base aligned to priorities Disciplined capital deployment • Growing U.S. earnings contribution through organic and inorganic investments . Deploying capital to core businesses Accelerating pace of share buybacks Increasing quarterly dividend by $0.02 to $1.46 per share 5#6Financial Review Hratch Panossian Senior Executive Vice-President and Chief Financial Officer CIBC#7Strong earnings driven by Capital Markets Earnings - Adjusted¹ EPS growth of 8% YoY ROE of 16.1% Revenue • • • . • Strong trading and underwriting activity in Capital Markets Double-digit volume growth in Canadian and U.S. Commercial businesses Continued deposit growth, stabilization of RESL volumes and YoY NIM expansion in Canadian Personal & Small Business Banking Expenses Expense growth driven by higher performance-based compensation and continued investments to fuel future growth Reported results include restructuring charge of $339MM (after-tax: $250MM), primarily relating to employee severance Provision for Credit Losses (PCL) PCL ratio on impaired of 24 bps, down 6 bps YoY and 9 bps QoQ Total PCL ratio of 26 bps, down 9 bps YoY and 14 bps QoQ Reported ($MM) Revenue Q1/20 YOY QoQ • 4,855 6% 2% • Net interest income 2,761 6% (1%) Non-interest income 2,094 6% 6% Non-Interest Expenses 3,065 11% 8% • Provision for Credit Losses 261 (23%) (35%) Net Income 1,212 3% 2% Diluted EPS $2.63 1% 2% Efficiency Ratio 63.1% 260 bps 360 bps ROE 13.1% (70) bps 20 bps CET1 Ratio 11.3% 4 bps (28) bps Adjusted¹ ($MM) Q1/20 YOY QoQ Revenue 4,855 7% 3% Net interest income 2,761 7% 1% Non-interest income 2,094 6% 6% Non-Interest Expenses 2,699 8% 2% Pre-Provision Earnings² 2,156 5% 6% Provision for Credit Losses 261 (23%) (35%) Net Income 1,483 9% 13% • Diluted EPS $3.24 8% 14% Efficiency Ratio 55.0% 60 bps (100) bps ROE 16.1% 10 bps 190 bps CIBC 1 Adjusted results are non-GAAP financial measures. See slide 28 for further details. 2 Pre-provision earnings is revenue net of non-interest expenses and is a non-GAAP measure. See slide 28 for further details. 7#8Capital position continues to be strong CET1 Ratio CIBC 11.6% 33 bps (36) bps Pro forma 11.7% (10) bps (14) bps 11.3% Q4/19 Earnings net of Dividends RWAS (excl. FX) Restructuring Charge Regulatory/Model Updates and Other Q1/20 Q1 Highlights • Strong internal capital generation • • Strong organic RWA growth which includes some timing related items Share buyback included in Other (-7 bps) Pro forma CET1 ratio of 11.7% after expected sale of controlling interest in FCIB • Liquidity coverage ratio of 125% and leverage ratio of 4.3% 8 00#9Continuing progress in Personal and Small Business Banking Reported ($MM) • Q1/20 YOY Revenue 2,214 2% QoQ (0%) Net interest income 1,618 4% (1%) Non-interest income 596 (1%) 0% Non-Interest Expenses 1,159 (13%) 0% Provision for Credit Losses 215 3% (16%) Net Income 617 34% 3% • Adjusted¹ ($MM) Q1/20 YOY QoQ Revenue 2,214 2% (0%) Net interest income 1,618 4% (1%) Non-interest income 596 (1%) 0% Non-Interest Expenses 1,157 5% 0% Pre-Provision Earnings² 1,057 (1%) (1%) Provision for Credit Losses 215 3% (16%) Net Income 619 (2%) 3% Higher net interest income driven by growth in deposit volumes and margin expansion Deposit balances up 6% YoY NIM up 9 bps YoY and stable sequentially Continued investments in our front-line capabilities, infrastructure and technology Provision for Credit Losses: PCL ratio on impaired of 30 bps Total PCL ratio of 33 bps Loans and Deposits 242 252 251 Efficiency Ratio - Adjusted¹ 50.7% 51.8% 52.3% 257 257 258 173 180 183 Q1/19 Q4/19 Q1/20 Q1/19 Q4/19 Q1/20 Loans & Acceptances ($B) Deposits ($B) -Net Interest Margin (bps) CIBC 1 Adjusted results are non-GAAP financial measures. See slide 28 for further details. 2 Pre-provision earnings is revenue net of non-interest expenses and is a non-GAAP measure. See slide 28 for further details. 6#10Strong volume growth in Canadian Commercial and Wealth Reported ($MM) . • Q1/20 YOY Revenue 1,055 7% QoQ 3% Net interest income 315 1% 4% Non-interest income • 740 10% 2% Non-Interest Expenses 561 9% 6% Provision for Credit Losses 35 (19%) (56%) Net Income 336 7% 10% Adjusted¹ ($MM) Q1/20 YOY QoQ Revenue 1,055 7% 3% • Net interest income 315 1% 4% Non-interest income 740 10% 2% Non-Interest Expenses 561 9% 6% Pre-Provision Earnings² 494 5% (1%) Provision for Credit Losses 35 (19%) (56%) Net Income 336 7% 10% Continued volume growth driving growth in net interest income, largely offset by lower margins Commercial loan balances up 9% YoY Commercial deposit balances up 14% YoY NIM of 3.22%, up 14 bps QoQ and down 8 bps YoY Non-interest income up 10% YoY Strong results in Wealth Management, driven by double- digit growth in AUM and AUA and higher net sales Higher fee income in Commercial Banking Provision for Credit Losses: PCL ratio on impaired of 21 bps Total PCL ratio of 22 bps Commercial Banking Wealth Management 60 65 53 58 65 273 289 299 60 168 182 190 Q1/19 Q4/19 Loans & Acceptances ($B)³ Q1/20 Deposits ($B) Q1/19 Q4/19 Q1/20 ■ AUA ($B) 4 ■ AUM ($B) 4 CIBC 1 Adjusted results are non-GAAP financial measures. See slide 28 for further details. 2 Pre-provision earnings is revenue net of non-interest expenses and is a non-GAAP measure. See slide 28 for further details. 3 Comprises loans and acceptances and notional amount of letters of credit. 4 Assets under management (AUM) are included in assets under administration (AUA). 10#11Client acquisition driving growth in U.S. Commercial and Wealth . Reported ($MM) Revenue Net interest income Q1/20 YOY QoQ 507 6% 1% 348 1% 2% Non-interest income 159 19% (1%) Non-Interest Expenses 299 9% 5% Provision for Credit Losses 15 (6%) (12%) Net Income 169 1% (6%) Adjusted¹ ($MM) Q1/20 YOY QoQ Revenue 507 9% 2% Net interest income 348 5% 4% • Non-interest income 159 19% (1%) Non-Interest Expenses 277 10% 5% Pre-Provision Earnings² 230 7% (0%) Provision for Credit Losses 15 (6%) (12%) Net Income 185 6% (3%) Loans and Deposits - Average (US$B) 331 299 302 • Higher net interest income driven by continued momentum in client acquisition and deepening relationships, partially offset by YoY NIM compression Loan balances up 18% YoY Deposit balances up 22% YoY NIM down 29 bps YoY and up 3 bps QoQ Strong growth in AUM (up 20% YoY) driving higher non- interest income Continued investments in client-facing roles and infrastructure to fuel growth Provision for Credit Losses: PCL ratio on impaired of 16 bps Total PCL ratio of 15 bps Wealth Management (US$B) 61 68 72 25 29 30 46 52 55 19 22 23 Q1/19 Q4/19 Q1/20 Loans³ Deposits Q1/19 Q4/19 Q1/20 ■AUA 4 ■AUM 4 -Net Interest Margin - adjusted (bps)1 1 Adjusted results are non-GAAP financial measures. See slide 28 for further details. CIBC 2 Pre-provision earnings is revenue net of non-interest expenses and is a non-GAAP measure. See slide 28 for further details. 3 Loan amounts are stated before any related allowances or purchase accounting adjustments. 4 Assets under management (AUM) are included in assets under administration (AUA). 11#12Very strong results in Capital Markets . Reported & Adjusted¹ ($MM) Q1/20 YOY QoQ Revenue² 871 22% 18% • Higher underwriting activity YoY Net interest income Non-interest income 384 32% 6% • 487 16% 29% • Non-Interest Expenses 419 14% 9% Strong performance in Global Markets broadly across trading and financing activities Double-digit revenue growth in U.S. region Expense growth driven by higher performance-based compensation Pre-Provision Earnings³ 452 31% 28% Provision for (reversal of) Credit (10) NM NM Losses Net Income 335 63% 46% Revenue ($MM)² U.S. Region Revenue ($MM)² 438 350 352 225 194 160 362 388 433 Q1/19 Q4/19 Q1/20 Q1/19 Q4/19 Q1/20 ■ Non-Trading Trading 1 CIBC Adjusted results are non-GAAP financial measures. See slide 28 for further details. 2 Revenue is reported on a taxable equivalent basis (TEB). 3 Pre-provision earnings is revenue net of non-interest expenses and is a non-GAAP measure. See slide 28 for further details. 12#13Corporate and Other Reported ($MM) Revenue¹ Q1/20 YOY QoQ 208 (8%) (25%) Net interest income 96 16% (41%) Non-interest income 112 (22%) (4%) Non-Interest Expenses 627 NM 31% Provision for Credit Losses 6 20% 20% Net Income (245) NM NM Adjusted² ($MM) Q1/20 YOY QoQ Revenue¹ 208 (8%) (2%) Net interest income 96 16% 1% Non-interest income 112 (22%) (4%) Non-Interest Expenses 285 6% (12%) Pre-Provision Earnings³ (77) (79%) 31% Provision for Credit Losses 20% 20% Net Income 8 (79%) NM CIBC • Reported results include restructuring charge primarily relating to employee severance Strong performance in FCIB driven by higher fee income Offset by lower treasury revenues 1 Revenue is reported on a taxable equivalent basis (TEB). 2 Adjusted results are non-GAAP financial measures. See slide 28 for further details. 3 Pre-provision earnings is revenue net of non-interest expenses and is a non-GAAP measure. See slide 28 for further details. 13#14Risk Review Laura Dottori-Attanasio Senior Executive Vice-President and Chief Risk Officer CIBC#15Provision for Credit Losses Reported & Adjusted¹ ($MM) Q1/19 Q4/19 Q1/20 Total Provision for Credit Losses down YoY & QoQ . Cdn. Personal & Small Business 208 255 215 Lower impairments during the current quarter Impaired 192 218 192 • Performing provisions were lower as forward looking indicators remained relatively stable Performing 16 37 23 Cdn. Commercial Banking & Wealth 43 80 35 Impaired 48 71 34 Provision for Credit Losses Ratio Performing (5) 9 1 U.S. Commercial Banking & Wealth 16 17 15 0.40% 0.35% Impaired 5 13 16 Performing 11 4 (1) 0.26% 0.33% Capital Markets 66 45 (10) 0.30% 0.24% Impaired 42 24 72 43 Performing 24 21 17 Corporate & Other 5 5 330 295 244 Impaired 8 4 7 Performing (3) 1 (1) Total PCL 338 402 261 Q1/19 Impaired 295 330 244 PCL on Impaired Performing 43 72 17 PCL Rate on Impaired Q4/19 Q1/20 PCL on Performing Total PCL Rate CIBC 1 Adjusted results are non-GAAP financial measures. See slide 28 for further details. 15#16Credit Quality - Gross Impaired Loans Reported Canadian Residential Mortgages Canadian Personal Lending Business & Government Loans¹ CIBC FirstCaribbean (FCIB) Total Q1/19 Q4/19 Q1/20 0.27% 0.28% 0.30% 0.34% 0.37% 0.37% 0.61% 0.60% 0.59% 4.54% 3.96% 3.80% 0.46% 0.47% 0.47% Gross Impaired Loans stable YoY and QoQ . Slightly higher impairments in Canadian residential mortgages The gross impaired loan ratio remained stable Gross Impaired Loan Ratio CIBC 0.46% 0.47% 0.47% 1,794 1,866 1,902 Q1/19 Q4/19 Gross Impaired Loans ($MM) Q1/20 Gross Impaired Loan Ratio 1 Excludes CIBC FirstCaribbean business & government loans. 16#17Credit Quality - Canadian Consumer Net Write-offs Reported Canadian Residential Mortgages Canadian Credit Cards Personal Lending Total Q1/19 Q4/19 Q1/20 0.01% 0.01% 0.01% 3.02% 3.20% 3.16% 0.76% 0.86% 0.77% 0.27% 0.30% 0.28% Net Write-offs stable YoY & down QoQ Write-offs remained relatively stable in our consumer portfolio Net Write-off Ratio CIBC 0.27% 0.30% 0.28% 196 177 180 Q1/19 Net Write-offs Q4/19 Q1/20 -Net Write-off Ratio 17#18Credit Quality - Canadian Consumer Delinquencies 90+ Days Delinquency Rates Q1/19 Q4/19 Q1/20 Canadian Residential Mortgages 0.27% 0.28% 0.30% Uninsured Insured 0.21% 0.22% 0.24% 0.37% 0.41% 0.43% Canadian Credit Cards 0.82% 0.76% 0.82% Personal Lending 0.34% 0.37% 0.37% Total 0.31% 0.33% 0.34% Balances ($B; spot) CIBC 252 253 253 Q1/19 Q4/19 Q1/20 90+ Days Delinquency rates up YoY & QoQ • Delinquency rates have increased primarily as a result of seasoning of the mortgage portfolio 18#19Appendix CIBC#20Canadian Personal and Commercial Banking Net Income - Adjusted ($MM)1 0% Net Interest Margin (bps) 251 249 862 815 817 760 763 258 256 256 Q1/19 Q2/19 Q3/19 Q4/19 Q1/20 Q1/19 Q2/19 Q3/19 Q4/19 Q1/20 Average Loans & Acceptances² ($B) Average Deposits ($B) 2% 8% 318 322 323 226 238 243 64 67 68 17 -13 19 -13 19 75 81 83 -13 224 Q1/19 ■RESL CIBC 223 Q4/19 ■Cards ■ Other Personal Lending 223 151 157 160 Q1/20 Q1/19 Q4/19 ■Business Personal Deposits 1 Adjusted results are non-GAAP financial measures. See slide 28 for further details. 2 Loan amounts are stated before any related allowances. Q1/20 ■■Business Deposits 20 20#21Canadian Personal Banking Digital Transformation¹ Digital Adoption Rate² Active Mobile Users³ (Millions) 5.5% 28.1% 69.9% 2.9 2.7 67.1% 64.4% 2.3 Q1/18 Q1/19 Q1/20 Banking Centres -5.0% Q1/18 Q1/19 Q1/20 Self-Serve Transactions4 (%) 3.0% 1,076 89.9% 88.6% 1,045 1,022 86.9% Q1/18 Q1/19 Q1/20 Q1/18 Q1/19 Q1/20 1 Excludes Simplii Financial. CIBC 2 Digital Adoption Rate calculated using 90-day active users. 3 Active Mobile Users represent the 90-day Active clients in Canadian Personal Banking. 4 Reflect financial transactions only. 21#22Improved Diversification - Continued Growth in the U.S. Region CIBC U.S. Region Earnings Contribution - Adjusted¹ 20.0% 17.3% 15.8% 8.7% F17 U.S Region AUA ($B)² F18 F19 YTD F20 96 95 95 88 81 F17 F18 F19 YTD F20 1 Adjusted results are non-GAAP financial measures. See slide 28 for further details. 2 Assets under management (AUM) are included in assets under administration (AUA). 22 22#23Canadian Real Estate Secured Personal Lending 90+ Days Delinquency Rates Q1/19 Q4/19 Q1/20 0.27% 0.28% 0.30% 0.21% 0.22% 0.24% Total Mortgages Uninsured Mortgages Uninsured Mortgages in GVA¹ 0.10% 0.15% 0.15% Uninsured Mortgages in GTA¹ 0.13% 0.13% 0.14% Uninsured Mortgages in Oil 0.54% 0.65% 0.69% Provinces² • • Total mortgage delinquency rate trended slightly higher in Q1/20 The Greater Vancouver Area¹ (GVA) and Greater Toronto Area (GTA) continue to outperform the Canadian average Mortgage Balances ($B; spot) 201 202 202 HELOC Balances ($B; spot) 21.8 21.2 20.5 111 112 112 12.3 11.9 11.6 63 63 63 6.7 6.6 6.3 27 27 27 2.8 2.7 2.6 Q1/19 Q4/19 Q1/20 Q1/19 Q4/19 Q1/20 ■GVA¹ ■GTA¹ ■ Other Region CIBC 1 GVA and GTA definitions based on regional mappings from Teranet. 2 Alberta, Saskatchewan and Newfoundland. ■GVA¹ ■GTA¹ ■ Other Region 23#24Canadian Uninsured Residential Mortgages - Q1/20 Originations Beacon Distribution 41% 38% 36% 32% 31% 25% 16%15%15% 15% 11%. 11% 5% 4% 5% ≤650 651-700 701-750 751-800 >800 ■Canada ■GVA² ■GTA² Loan-to-value (LTV)1 Distribution 41% 30% 34% 31% 33% 24% 22%20% 16% 9% 13% 11% 7% 5% 4% CIBC <30% 30 to <45% 60 to ≤75% >75% 45 to <60% ■Canada ■GVA² ■GTA² • Originations of $9B in Q1/20 Average LTV1 in Canada: 64% . GVA²: 57% • GTA²: 61% 1 LTV ratios for residential mortgages are calculated based on weighted average. See page 24 of the Q1 2020 Quarterly Report for further details. 2 GVA and GTA definitions based on regional mappings from Teranet. 24 24#25Canadian Uninsured Residential Mortgages Beacon Distribution 40% 42%41% 26% 23%26% 7% 6% 6% 13%12%13% 14% 17% 14% ≤650 651-700 701-750 751-800 >800 ■Canada ■GVA² ■GTA² Loan-to-value (LTV)1 Distribution 33% 29% 30%30% 29% 28% 23% 23% 16% 14% 12% 9% CIBC 11% 7% 6% <30% 30 to <45% 45 to <60% 60 to ≤75% >75% ■Canada ■GVA² ■GTA² 2 . • Better current Beacon and LTV1 distributions in GVA² and GTA² than the Canadian average Less than 1% of this portfolio has a Beacon score of 650 or lower and an LTV1 over 75% Average LTV1 in Canada: 53% GVA²: 47% GTA²: 50% 1 LTV ratios for residential mortgages are calculated based on weighted average. See page 24 of the Q1 2020 Quarterly Report for further details. 2 GVA and GTA definitions based on regional mappings from Teranet. 25#26Trading Revenue (TEB)¹ Distribution² ($MM) 20 15 10 10 5 0 (5) (10) (15) T CIBC Nov-19 Dec-19 Trading Revenue VaR 1 Non-GAAP financial measure. See slide 28 for further details. 2 Trading revenue (TEB) comprises both trading net interest income and non-interest income and excludes underwriting fees, commissions, certain month-end transfer pricing and other miscellaneous adjustments. Trading revenue (TEB) excludes certain exited portfolios. ($MM) 20 20 15 10 5 0 (5) (10) Jan-20 (15) 26#27Q1 2020 Items of Note Restructuring charge primarily relating to After-Tax Pre-Tax & NCI EPS Effect Effect ($MM) ($MM) Effect ($/Share) 339 250 0.56 Reporting Segments Corporate & Other Canadian Personal & Small Business Banking/ 0.05 U.S. Commercial Banking & Wealth Management/ Corporate & Other employee severance Amortization of acquisition-related 27 21 intangible assets Adjustment to Net Income attributable 366 271 0.61 to common shareholders and EPS CIBC 27#28Non-GAAP Financial Measures 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 27 of this presentation. For additional information about our non-GAAP measures see pages 1 to 3 of the Q1/20 Supplementary Financial Information package and pages 13 and 14 of the 2019 Annual Report available on www.cibc.com. CIBC 28