Investor Presentaiton

Overview of Creditor Hierarchies in Bail-In Resolution Spanish Revised Insolvency Law Common Equity Tier 1 Common Equity Tier 1 Common Equity Tier 1 Common Equity Tier 1 Common Equity Tier 1 National layers of bail-inable senior debt instruments Canada Bank Recapitalization (Bail- in) Regulations Bank Insolvency Ordinance (BIO- FINMA) / BOE/PRA Resolution Mechanism Act (§46f KWG new) French Sapin 2 Italy Senior Unsecured Other Liabilities CIBC Loss absorption waterfall Deposits Non-Preferred Other Liabilities Preferred Senior Legacy &,,New" Preferred Shares/ AT1 Additional Tier 1 (PONV) Tier 2 (PONV) Additional Tier 1 (5.125%) Additional Tier 1 (5.125%) Additional Tier 1 (5.125%) Additional Tier 1 (5.125%) Tier 2 (PONV) Tier 2 (PONV) "New" Senior (issued post Sep. 23, 2018) Tier 2 (PONV) Legacy & "New" Non- HoldCo Senior Preferred Senior "New" Non-Preferred Senior "New" Non-Preferred "New" Non-Preferred Senior Senior Tier 2 (PONV) Tier 2 (PONV) Common Equity Tier 1 Loss absorption waterfall Deposits Other Liabilities before Sep. 23, 2018) Legacy Senior (issued OpCo Senior L Deposits Non-Preferred Other Liabilities Preferred Senior Legacy & "New" Excluded Liabilities* Preferred Deposits Preferred Deposits Non-Preferred Deposits Preferred Deposits Preferred (natural persons + micro + SMEs) (natural persons + micro + SMEs) (natural persons + micro + SMEs) Deposits (natural persons + micro- SMEs) Non-Preferred Deposits Other Liabilities Structured Senior ,,New" Preferred Senior Deposits Non-Preferred Other Liabilities Discretionary exclusions possible Preferred Deposits (natural persons + micro + SMEs) Other excluded Liabilities** Excluded Liabilities* Excluded Liabilities* Source: Commerzbank Sec. Obligations as well as Retail & SME Deposits <100k under Deposit Guarantee Scheme ** Sec. Obligations (e.g. Covered bonds) as well as CDIC Insured Deposits Excluded Liabilities* Excluded Liabilities* CIBC Fixed Income Investor Presentation | 34

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