An anonymous director reports

CIBC ASSET MANAGEMENT ANNOUNCES ESTIMATED 2023 ANNUAL REINVESTED CAPITAL GAINS DISTRIBUTIONS FOR CIBC ETFS AND ETF SERIES

Canadian Imperial Bank of Commerce's CIBC Asset Management Inc. has estimated 2023 annual reinvested capital gains distributions for the CIBC exchange-traded funds and ETF series. Please note that these are estimated capital gains amounts only, as of Oct. 31, 2023. As these are estimated amounts, the final capital gains distributions are subject to change prior to the final distributions.

These estimates are for the year-end capital gains distributions only, which are typically reinvested in additional units of the respective CIBC ETF or ETF series at the year-end, and do not include cash distributions for December, 2023.

CIBC expects to declare the final year-end capital gain distribution amounts, as well as the cash distribution amounts, as applicable, for 2023, on Dec. 20, 2023. Unitholders of record as of Dec. 28, 2023, will receive the 2023 annual reinvested distributions. The actual taxable amounts of cash and reinvested distributions for 2023, including the tax characteristics of the distributions, will be reported in early 2024.

Details of the per-unit estimated annual reinvested capital gains distribution amounts are provided in an attached table.

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 markets 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.