Covered Bond Program Overview

Table of Contents 1 Debt Programmes Summary 2 S&P Global Ratings Update 3 Canadian Economy & Consumer Profile 7 80 9 34 34 4 Canadian Imperial Bank of Commerce ("CIBC") Overview 14 5 Canadian Mortgage Market 30 30 60 Legislative Covered Bond Programme, Collateral Pool 7 Contacts 8 Appendix 39 41 6

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