#1t CIBC Investor Presentation Q2 F19 May 22, 2019 CIBC#2Forward-Looking Statements 2 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 "Overview - Financial results", "Overview - Significant events", "Overview - Economic outlook", "Financial condition - Capital resources", "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 2019 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 "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 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. Investor Relations contacts: Hratch Panossian, Executive Vice-President Investor Relations Fax Number 416 956-3317 416 980-5028 Visit the Investor Relations section at www.cibc.com CIBC#3CIBC Overview Victor Dodig President and Chief Executive Officer CIBC#4Second Quarter, 2019 Financial Review Kevin Glass Senior Executive Vice-President and Chief Financial Officer CIBC#5Second Quarter, 2019 Highlights Pre-Provision Earnings growth of 4% YoY ROE of 15.9% NIM expansion in Personal & Small Business Banking Significant volume growth in Canadian and U.S. Commercial Banking Solid AUM growth in Wealth Management Continued steady performance in Capital Markets Adjusted¹ Q2/18 Q1/19 Q2/19 Earnings1 ($MM, except for EPS, Efficiency Ratio, ROE, and CET1 Ratio) Revenue 4,361 4,552 4,536 Non-Interest Expenses 2,467 2,501 2,570 Revenue Pre-Provision Earnings 1,894 2,051 1,966 Impaired 217 295 250 Performing (5) 43 5 Provision for Credit Losses 212 338 255 Net Income - Reported² 1,319 1,182 1,348 Net Income - Adjusted¹ 1,345 1,363 1,357 Diluted EPS - Reported Diluted EPS - Adjusted¹ $2.89 $2.60 $2.95 $2.95 $3.01 $2.97 Expenses Efficiency Ratio - Adjusted TEB¹ 55.9% 54.4% 56.1% ROE - Adjusted¹ 17.4% 16.0% 15.9% · CET1 Ratio 11.2% 11.2% 11.2% 1 Adjusted results are Non-GAAP financial measures. See slide 27 for further details. 2 Reported results are on slide 25. Focused investments to drive future growth Provision for Credit Losses (PCL) • Stable credit performance PCL for Impaired ratio of 26 bps, down 4 bps QoQ CIBC LO 5#6Capital CET1 Ratio 11.2% 31 bps 2 bps (35) bps 11.2% Q1/19 Earnings net of Dividends RWAS (excl. FX) Other Q2/19 Strong internal capital generation Offset by: RWA increase driven by business growth 9 CIBC#7Canadian Personal and Small Business Banking NIM expansion and volume growth driving performance 7 Adjusted¹ ($MM) Q2/18 Q1/19 Q2/19 • Revenue 2,090 2,166 2,128 Non-Interest Expenses 1,089 1,098 1,120 Pre-Provision Earnings 1,001 1,068 1,008 Impaired 199 192 202 Revenue growth driven by strong margins and volume growth NIM up 9 bps YoY and 5 bps QoQ Deposits up 7% YoY Provision for Credit Losses: Performing 4 16 27 - Provision for Credit Losses 203 208 229 PCL for Impaired: ratio of 32 bps, flat YoY, up 2 bps QoQ Net Income - Reported² 584 463 570 Net Income - Adjusted¹ 586 632 571 Loans and Deposits 238 247 242 Efficiency Ratio - Adjusted¹ 52.1% 257 257 50.7% 52.6% 256 167 173 178 Q2/18 Q1/19 Deposits ($B) -Net Interest Margin (bps) Q2/19 Q2/18 Q1/19 Q2/19 Loans & Acceptances ($B) CIBC 1 Adjusted results are Non-GAAP financial measures. See slide 27 for further details. 2 Reported results are on slide 25.#88 Adjusted¹ Q2/18 Q1/19 ($MM) Commercial Banking 359 413 Canadian Commercial Banking and Wealth Management Profitable results driven by strong volume growth and expense management • Strong results in Commercial Banking driven by higher fee income and volume growth Q2/19 408 Wealth Management 578 579 595 - Loan balances up 12% YoY Revenue 937 992 1,003 - Deposit balances up 15% YoY Non-Interest Expenses 511 515 530 • Pre-Provision Earnings 426 477 473 Impaired 1 48 25 Performing (5) (2) • Provision for Credit Losses 1 43 23 AUM growth of 7% YoY Operating leverage of 3.2% Provision for Credit Losses: PCL for Impaired: ratio of 17 bps Net Income Reported² 310 319 328 Net Income Adjusted' - 310 319 328 Commercial Banking Wealth Management 55 60 62 274 273 287 53 53 46 165 168 177 Q2/18 Q1/19 Loans & Acceptances ($B) Q2/19 ■Deposits ($B) 1 Adjusted results are Non-GAAP financial measures. See slide 27 for further details. 2 Reported results are on slide 25. 3 Comprises loans and acceptances and notional amount of letters of credit. 4 Assets under management (AUM) are included in assets under administration (AUA). Q2/18 Q1/19 Q2/19 3 AUA ($B)* ■ AUM ($B)* CIBC#9Q2/18 Q1/19 Q2/19 274 321 136 147 4 (2) 414 466 235 252 Pre-Provision Earnings 179 214 Impaired 13 Performing (2) 11 Provision for Credit Losses 11 16 Net Income Reported² 138 168 Net Income - Adjusted¹ 142 174 U.S. Commercial Banking and Wealth Management Strong results reflecting solid business performance and investments to support growth Adjusted¹ ($MM) Wealth Management Commercial Banking Other Revenue Non-Interest Expenses 9 Strong results driven by client acquisition and deepening relationships Expenses reflect investments in the business, including added headcount • Solid organic deposit growth YoY; QoQ impacted by seasonal factors CIBC Bank USA Loans (spot) grew US$3.2B, or 18%, YoY Deposits (spot) up US$2.2B, or 13%, YoY NIM of 3.66%, up 3 bps YoY and stable QoQ 320 146 3 469 255 214 5 12 (1) • 11 163 176 CIBC Bank USA Net Income - Adjusted¹ 94 126 128 Loans and Deposits Spot (US$B) Wealth Management 6 18 18 19 20 21 20 76 80 86 59 60 65 Q2/18 Q1/19 I Loans - CIBC Bank USA³ ■U.S. REF 3 Q2/19 ■Deposits Q2/18 Q1/19 Q2/19 3 4 ■ AUA ($B)* ■ AUM ($B)* CIBC 1 Adjusted results are Non-GAAP financial measures. See slide 27 for further details. 2 Reported results are on slide 25. 3 Loan balances exclude loans held for sale. Loan and deposit balances exclude the impact of purchase accounting. 4 Assets under management (AUM) are included in assets under administration (AUA).#1010 10 Capital Markets Strong performance through focus on diversification and connectivity Adjusted¹ ($MM) Q2/18 Q1/19 Q2/19 Global Markets 409 414 427 Corporate & Investment Banking2 301 291 324 Revenue³ 710 705 751 Non-Interest Expenses 376 368 372 Pre-Provision Earnings 334 337 379 Impaired 3 42 6 Performing (12) 24 (6) Provision for (reversal of) Credit Losses (9) 66 Net Income - Reported* 249 201 279 Net Income - Adjusted¹ 249 201 279 12% NIAT growth YoY: Strong revenues across trading, origination and lending businesses Positive operating leverage Continued focus on growth in the U.S. and with non-Capital Markets client segments Revenue ($MM)1,2 337 350 364 373 355 387 Q2/18 Q1/19 Q2/19 CIBC ■Non-Trading ■ Trading 1 Adjusted results are Non-GAAP financial measures. See slide 27 for further details. 2 Corporate & Investment Banking now includes the Other line of business. 3 Revenue is reported on a taxable equivalent basis (TEB). 4 Reported results are on slide 25.#11Corporate and Other Adjusted¹ Q2/18 Q1/19 Q2/19 ($MM) International Banking 185 197 199 Other 25 26 (14) Revenue² 210 223 185 Non-Interest Expenses 256 268 293 Pre-Provision Earnings (46) (45) (108) Impaired 1 8 5 Performing 5 (3) (13) Provision for (reversal of) Credit Losses 6 5 (8) Net Income (Loss) - Reported³ 38 31 8 Net Income (Loss) - Adjusted¹ 58 37 3 256 268 293 210 223 185 Q2/18 Q1/19 Revenue ■Expense Q2/19 1 Adjusted results are Non-GAAP financial measures. See slide 27 for further details. 2 Revenue is reported on a taxable equivalent basis (TEB). 3 Reported results are on slide 25. • Strong revenue growth in CIBC FirstCaribbean Lower Treasury revenue Expense growth reflecting strategic investments Provision for Credit Losses: Release in performing in CIBC FirstCaribbean CIBC 11#12Second Quarter, 2019 Risk Review Laura Dottori-Attanasio Senior Executive Vice-President and Chief Risk Officer CIBC#13Provision for Credit Losses Reported Q2/18 Q1/19 Q2/19 ($MM) Canadian Personal & Small Business Banking 199 192 202 Canadian Commercial Banking & Wealth 1 48 25 U.S. Commercial Banking & Wealth 13 5 12 Provision for Credit Losses down QoQ Overall credit quality remains positive The outlook, combined with stage migration, resulted in a lower PCL this quarter Capital Markets 3 42 6 Corporate and Other 1 8 5 Provision for Impaired 217 295 250 Provision for Performing (5) 43 5 Provision for Credit Losses 212 338 255 Provision for Credit Losses - Adjusted¹ 212 338 255 Provision for Credit Losses Ratio Provision for Performing Loans 0.30% +5 0.26% 0.24% +14 -Forward looking information update 295 250 +15 -Other² 217 -Transferred from Q2/18 Q1/19 Q2/19 (24) performing to PCL on Impaired PCL Rate on Impaired impaired³ CIBC 1 Adjusted results are Non-GAAP financial measures. See slide 27 for further details. 2 Includes stage migration, portfolio movement, repayments, model updates, etc. 3 Excludes cards allowances that are transferred to impaired before they are immediately written-off. 13#14Credit Quality - Gross Impaired Loans Reported Q2/18 Q1/19 Q2/19 Gross Impaired Loans up QoQ Canadian Residential Mortgages 0.25% 0.27% 0.27% Canadian Personal Lending CIBC Business & Government Loans¹ CIBC Bank USA CIBC FirstCaribbean Total excluding CIBC FirstCaribbean Total 0.32% 0.34% 0.34% 0.39% 0.56% 0.74% 0.65% 0.82% 0.92% 5.34% 4.54% 4.25% 0.30% 0.38% 0.44% Primarily due to funding of a previously impaired commitment in the utility sector 0.41% 0.46% 0.52% Gross Impaired Loan Ratio 0.41% 0.52% 0.46% 1,523 1,794 2,043 Q2/18 ■Gross Impaired Loans ($MM) Q1/19 Q2/19 -Gross Impaired Loan Ratio CIBC 1 Excludes CIBC Bank USA and CIBC FirstCaribbean business & government loans. 14#15Credit Quality - Canadian Consumer Net Write-offs Reported Q2/18 Q1/19 Q2/19 Credit cards up due to seasonality Canadian Residential Mortgages 0.01% 0.01% 0.01% Canadian Credit Cards Canadian Personal Lending 3.41% 3.02% 3.48% 0.75% 0.76% 0.82% Total 0.29% 0.27% 0.30% Net Write-off Ratio 0.29% 0.30% 0.27% 180 177 190 Q2/18 Q1/19 Net Write-offs Q2/19 -Net Write-off Ratio CIBC 15#16Credit Quality - Canadian Personal Banking Delinquencies 90+ Days Delinquency Rates Q2/18 Q1/19 Q2/19 Residential Mortgages 0.25% 0.27% 0.27% Uninsured Insured Credit Cards 0.20% 0.21% 0.21% 0.32% 0.37% 0.37% 0.90% 0.82% 0.79% Personal Lending 0.32% 0.34% 0.34% Canadian Personal Banking 0.29% 0.31% 0.31% Balances ($B; spot) 252 252 251 90+ Days Delinquency rates flat QoQ Stable across all Canadian consumer portfolios Q2/18 Q1/19 Q2/19 CIBC 16#17Appendix CIBC#18Canadian Personal Banking Digital Transformation1 Digital Adoption Rate² 4.4% Active Mobile Users³ (Millions) 29.2% 66.2% 67.7% 2.7 63.3% 2.4 2.1 Q2/17 Q2/18 Q2/19 Banking Centres -4.9% Q2/18 Q2/17 Self-Serve Transactions 4 (%) 3.5% Q2/19 1,096 1,067 88.8% 1,042 87.1% 85.3% Q2/17 Q2/18 Q2/19 1 Excludes Simplii Financial. 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. Q2/17 Q2/18 Q2/19 CIBC 18#19Canadian Personal and Small Business Banking Market Share Money-In 19 19: Q2/19 Balances YOY Most Current ($B) Growth Market Share¹ Absolute Rank YoY Growth Rank² Personal Deposits & GICs 155 6.8% 16.8% 4 4 Canadian Retail Mutual Fund and ETF AUM 107 4.2% 13.3% 5 6 Small Business Deposits & GICs 23 6.3% 13.7% 4 5 Money-Out Real Estate Secured Personal Lending 223 -0.9% 18.0% 4 6 Other Personal Lending incl. Cards 30 5.0% 12.5% 4 1 Small Business Lending 3 0.6% 10.1% LO 5 6 1 Market share is calculated using most current data available from OSFI (as at Mar/19), CBA (as at Dec/18), IFIC (as at Apr/19) and CETFA (as at Apr/19), and is based on 6 banks (CIBC, BMO, BNS, NA, RBC and TD). 2 Growth rank based on YoY balance change (%). CIBC#20Oil & Gas Retail Exposure Retail Exposure¹ in Oil Provinces ($B) 41.2 41.2 41.1 40.8 40.7 20 20 $40.7B of retail exposure¹ to oil provinces² (or $23.4B excluding insured mortgages) - Alberta accounts for $32.3B or 79% of the retail exposure¹ - Average LTV³ of 67% in the uninsured mortgage portfolio Q2/18 Q3/18 Q4/18 Q1/19 Q2/19 Other 14% Loan-to-value (LTV)³ Q2/18 Q3/18 Q4/18 Q1/19 Q2/19 HELOC Insured Mortgages 70% 70% 70% 71% 73% 8% Uninsured Mortgages HELOC 66% 66% 65% 66% 67% 64% 64% 63% 64% 65% Uninsured Mortgages 35% 1 Comprises mortgages, HELOC, unsecured personal lines and loans, credit cards and small business. 2 Alberta, Saskatchewan and Newfoundland and Labrador. 3 LTV ratios for residential mortgages are calculated based on weighted average. See page 25 of the Q2/19 Report to Shareholders for further details. Insured Mortgages 43% CIBC#21Canadian Real Estate Secured Personal Lending 90+ Days Delinquency Rates Total Mortgages Q2/18 0.25% Q1/19 0.27% Q2/19 0.27% Uninsured Mortgages Uninsured Mortgages in GVA¹ Uninsured Mortgages in GTA¹ Uninsured Mortgages in Oil Provinces 0.51% 0.54% 0.20% 0.21% 0.21% 0.10% 0.10% 0.12% 0.11% 0.13% 0.11% 0.59% Mortgage Balances ($B; spot) 203 201 201 21 27 • Delinquency rates remained flat in Q2/19 The Greater Vancouver Area¹ (GVA) and Greater Toronto Area¹ (GTA) continue to outperform the Canadian average HELOC Balances ($B; spot) 21.8 21.8 21.8 112 111 111 12.2 12.3 12.2 63 63 63 6.8 6.7 6.8 28 27 27 2.8 2.8 2.8 Q2/18 Q1/19 Q2/19 Q2/18 Q1/19 Q2/19 1 1 1 GVA ■GTA Other Region ■ GVA¹ GTA Other Region CIBC 1 GVA and GTA definitions based on regional mappings from Teranet.#22- Canadian Uninsured Residential Mortgages – Q2/19 Originations Beacon Distribution 6% 7% 5% 17% 14% 16% 34% 31% 33% 34% 38% 36% 9% 10% 10% ≤650 651-700 701-750 751-800 >800 Canada GVA² ■GTA² 2 Loan-to-value (LTV)1 Distribution 43% 35% 32% 30% 36% 25% 24% 18% 16% 9% 9% 7% 7% 4% 5% Originations of $6B in Q2/19 Average LTV1 in Canada: 65% - GVA²: 58% - GTA²: 62% 22 22 <30% 30 to <45% 45 to <60% 60 to ≤75% >75% Canada GVA² ■GTA² 2 1 LTV ratios for residential mortgages are calculated based on weighted average. See page 25 of the Q2/19 Report to Shareholders for further details. 2 GVA and GTA definitions based on regional mappings from Teranet. CIBC#23Canadian Uninsured Residential Mortgages Beacon Distribution 42%41% 39% 27% 24% ,27% 13% 12% 13% 14% 16% 13% 7% 6% 6% ≤650 651-700 701-750 Canada GVA² ■GTA² 751-800 2 >800 Loan-to-value (LTV)1 Distribution 38% 33% 29%30% 27% 27% 22% 21% 15% 13% 9% 10% 13% 9% 4% 23 Better current Beacon and LTV1 distributions in GVA² and GTA² than the Canadian average 1% of this portfolio has a Beacon score of 650 or lower and an LTV1 over 75% Average LTV1 in Canada: 54% - GVA²: 45% - GTA²: 51% <30% 30 to <45% 45 to <60% 60 to ≤75% Canada ■GVA² ■GTA² >75% 1 LTV ratios for residential mortgages are calculated based on weighted average. See page 25 of the Q2/19 Report to Shareholders for further details. 2 GVA and GTA definitions based on regional mappings from Teranet. CIBC#24Trading Revenue (TEB) 1 Distribution² (SMM) 20 15 10 5 0 (5) (10) Feb-19 Mar-19 Trading Revenue (TEB) VaR 1 Non-GAAP financial measure. See slide 27 for further details. 2 Trading revenue (TEB) comprises both trading net interest income and non-interest income and excludes underwriting fees, commissions, certain month-end transfer pricing and other miscellaneous adjustments. Trading revenue (TEB) excludes certain exited portfolios. 24 24 (SMM) 20 15 10 LO 5 0 (5) Apr-19 (10) CIBC#25Reported Results ($MM) Total Bank Revenue Non-Interest Expenses Pre-Provision Earnings Q2/18 Q1/19 Q2/19 Canadian Personal & Small Business Banking 4,376 4,565 4,542 Revenue Q2/18 Q1/19 Q2/19 2,090 2,166 2,128 2,517 2,760 2,588 1,859 1,805 1,954 Non-Interest Expenses Pre-Provision Earnings Provision for Credit Losses 212 338 255 Provision for Credit Losses Income Before Income Taxes 1,647 1,467 1,699 Income Before Income Taxes Income Taxes 328 285 351 Income Taxes Net Income - Reported 1,319 1,182 1,348 Net Income - Reported Net Income - Adjusted¹ 1,345 1,363 1,357 Net Income - Adjusted¹ 1,092 1,327 1,122 998 839 1,006 203 208 229 795 631 777 211 168 207 584 463 570 586 632 571 Canadian Commercial Banking & Wealth Management Q2/18 Q1/19 Q2/19 U.S. Commercial Banking & Wealth Management Q2/18 Q1/19 Q2/19 Commercial Banking 359 413 408 Commercial Banking 287 333 324 Wealth Management 578 579 595 Wealth Management 138 148 148 Revenue 937 992 1,003 Other 4 (2) 3 Non-Interest Expenses 511 515 530 Revenue² 429 479 475 Pre-Provision Earnings 426 477 473 Non-Interest Expenses 256 274 277 Provision for Credit Losses 1 43 23 Pre-Provision Earnings 173 205 198 Income Before Income Taxes 425 434 450 Provision for Credit Losses 11 16 11 Income Taxes 115 115 122 Income Before Income Taxes 162 189 187 Net Income - Net Income Reported Adjusted' 310 319 328 Income Taxes² 24 21 24 310 319 328 Net Income - Reported 138 168 163 Net Income Adjusted¹ 142 174 176 Capital Markets Q2/18 Q1/19 Q2/19 Corporate & Other Q2/18 Q1/19 Q2/19 Global Markets 409 414 427 International Banking 185 197 199 Corporate & Investment Banking³ 301 291 324 Other 25 26 (14) Revenue² 710 705 751 Revenue² 210 223 185 Non-Interest Expenses 376 368 372 Non-Interest Expenses 282 276 287 Pre-Provision Earnings 334 337 379 Pre-Provision Earnings (72) (53) (102) Provision for (reversal of) Credit Losses (9) 66 Provision for Credit Losses 6 5 (8) Income Before Income Taxes 343 271 379 Loss Before Income Taxes (78) (58) (94) Income Taxes² 94 70 100 Income Taxes² (116) (89) (102) Net Income - Reported 249 201 279 Net Income (Loss) Reported 38 31 8 Net Income Adjusted¹ 249 201 279 Net Income (Loss) - Adjusted¹ 58 37 3 CIBC 1 Adjusted results are Non-GAAP financial measures. See slide 27 for further details. 2 Revenue and income taxes are reported on a taxable equivalent basis (TEB). 3 Corporate & Investment Banking now includes the Other line of business. 25#26Q2 2019 Items of Note Amortization of acquisition-related intangible assets After-Tax Pre-Tax & NCI Effect Effect (SMM) EPS Effect ($/Share) (SMM) 27 27 20 20 0.04 Purchase accounting adjustments net of transaction and integration-related costs associated with the acquisitions of The PrivateBank and Geneva Advisors (15) (11) (0.02) Adjustment to Net Income attributable to common shareholders and EPS 12 9 0.02 Reporting Segments 26 Canadian Personal & Small Business Banking/ U.S. Commercial Banking & Wealth Management/ Corporate & Other U.S. Commercial Banking & Wealth Management/ Corporate & Other CIBC#27Non-GAAP Financial Measures 27 27 • 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. • For further details on items of note see slide 26 of this presentation; for Non-GAAP measures and reconciliation of Non-GAAP to GAAP measures see pages 1 and 2 of the Q2/19 Supplementary Financial Information and pages 14 and 15 of the 2018 Annual Report available on www.cibc.com. CIBC