Ms. Kate Stevenson reports

BILL MORNEAU APPOINTED TO CIBC'S BOARD OF DIRECTORS

Bill Morneau will be joining Canadian Imperial Bank of Commerce's board of directors, effective Nov. 1, 2022.

Mr. Morneau served as Canada's Minister of Finance and a member of Parliament from 2015 to 2020, during which time he played a key role in shaping progressive, sustainable and inclusive economic policies. He was also active in major international socio-economic forums, including the International Monetary Fund, the World Bank and the Organisation for Economic Co-operation and Development, where he advocated on issues surrounding climate change and the digital economy. From 1990 to 2015, he led Morneau Shepell, which became the largest human resource and pension service provider in Canada under his leadership.

"Bill Morneau is an accomplished leader with extensive government, public policy and business experience, along with strong international expertise," said Kate Stevenson, chair of the board, CIBC. "His strategic insight and breadth of leadership across the public and private sectors will benefit our board as we oversee the execution of CIBC's client-focused and purpose-driven growth strategy."

Mr. Morneau is also an active philanthropist across a range of organizations and causes. He holds a BA from the University of Western Ontario, an MSc in economics from the London School of Economics and an MBA from INSEAD.

About Canadian Imperial Bank of Commerce

CIBC is a leading North American financial institution with 13 million personal banking, business, public-sector and institutional clients. Across personal and business banking, commercial banking and wealth management, and capital market businesses, CIBC offers a full range of advice, solutions and services through its leading digital banking network and locations across Canada, in the United States and around the world.