Capital Markets & Funding Strategies

Disciplined capital deployment Organic Growth Dividend Stability Inorganic Growth CIBC • Investing to strengthen our consumer business • . Focusing on high-return initiatives, particularly technology enhancements and process simplification Build on positive momentum in our North American Commercial Banking, Capital Markets, and US Private Wealth Management businesses. On November 4, 2021 OSFI announced a lifting of the restriction around dividend increases and share repurchases that had been introduced in March 2020 in response to the pandemic. With a CET1 ratio of 11.7%, we have excess capital over and above the current regulatory minimum of 10.5%¹ Dividend payout ratio remains in the 40% - 50% target range Near term: do not expect any sizeable M&A in the U.S. as we continue to focus our capital allocation on supporting our clients and maintaining a dividend payout ratio in our target range Long term: will remain an option - Remain selective Ensure right cultural and strategic fit 1 As per OSFI's announcement on June 17, 2021, the Domestic Stability Buffer has increased to 2.50% effective Oct 31, 2021, which increased the OSFI minimum target CET1 ratio to 10.5%. 32

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