Strategic Priorities & Financial Overview

Canadian House Prices Household Debt to Income Ratio 4 • Absolute price level is moderate compared to major global urban centers 300 • Canadian debt to income ratio in line with many developed nations • Growth rates of house prices in Canada have diverged across regions 250 200 ■Household Debt to Income Ratio -Average Average Home Price 150 Region CAD1 USD Eq.² YoY % Change³ 100 50 Canada 657K 479K 3% Toronto 1104K 805K -3% Vancouver 1197K 872K -1% Norway Denmark Netherlands 40% Calgary 555K 405K 0% -Montreal 30% Housing Index Year over Year Change, by City 5 -Canada Toronto -Ottawa Vancouver Quebec Calgary Halifax Montreal 516K 376K 3% 20% Ottawa 639K 466K Australia Sweden Canada U.K. France Ireland Japan U.S. Germany -2% 10% CIBC For footnoted information refer to slide 37. -10% 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 0% -20% 27 27

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