First Quarter, 2024 Earnings Report

Non-Interest Expenses Contained through focused investments and continued realization of efficiencies Adjusted Expenses ($B), YoY Expense Growth & Operating Leverage Reported: $4,462MM Reported (SB) Reported Growth Adjusted Growth 4.5 48% 3.1 3.3 3.4 3.5 1% 4% (1)% (22)% 9% 7% 6% 3% 3% 3.4 3.4 3.3 3.3 3.2 Q1/23 Q2/23 Q3/23 Q4/23 Q1/24 YoY ($MM) Adjusted 3,267 Reported Op. Lev. (39.7%) 5.2% 1.2% 9.8% 27.3% Adjusted¹ Op. Lev. (1.4)% (0.4)% (0.1)% 6.1% 2.1% Reported 3YR CAGR² Adjusted 3YR CAGR 1.2 (2.9)% (2.1)% (1.8)% (0.5)% 1.2% (0.6)% (0.4)% (0.5)% 0.0% 0.0% • 78 Reported: $3,465MM +3% +1% 3,287 (58) Q1/23 Operating Costs Efficiencies 42 30 30 3,359 Investments Perf. Based Q1/24 Comp. Reported expenses down 22% YoY, primarily due to an increase in legal provision in the prior year which was treated as an item of note Adjusted expenses managed to 3% growth YoY driven by: • • Operating costs (net of efficiencies) increased 1%, mainly driven by higher people-related costs and volume growth • Achieved $58MM in efficiency savings in line with the top end of our annual target driven by automation and demand management Remaining increase of 2% due to modestly higher investment in our business and higher performance-based compensation Endnotes are included on slides 49 to 54. CIBC First Quarter, 2024 12

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