Mr. Jason Patchett reports

CIBC TO REDEEM 1.96% DEBENTURES DUE APRIL 21, 2031 (NVCC)

Canadian Imperial Bank of Commerce intends to redeem all $1.0-billion of its 1.96 per cent debentures due April 21, 2031 (non-viability contingent capital (NVCC)) (subordinated indebtedness). In accordance with their terms, the debentures will be redeemed at 100 per cent of their principal amount on April 21, 2026, together with accrued and unpaid interest up to but excluding the redemption date. Interest on the debentures will cease to accrue from and after the redemption date.

The redemption will be financed out of the general corporate funds of CIBC. Notice will be delivered to registered holders of the debentures in accordance with the terms outlined in the prospectus supplement for the debentures.

About Canadian Imperial Bank of Commerce

CIBC is a leading North American financial institution with 15 million personal banking, business, public sector and institutional clients. Across personal and business banking, commercial banking and wealth management, and capital markets businesses, CIBC offers a full range of advice, solutions and services through its leading digital banking network around the world.