Mr. Jason Patchett reports

CIBC TO REDEEM NON-CUMULATIVE RATE RESET CLASS A PREFERRED SHARES SERIES 41 (NVCC)

Canadian Imperial Bank of Commerce intends to redeem all of its issued and outstanding non-cumulative rate reset Class A preferred shares, Series 41 (non-viability contingent capital (NVCC)), for cash. The redemption will occur on Jan. 31, 2025. The redemption price is $25 per Series 41 share.

The 24.4313-cent quarterly dividend announced on Dec. 5, 2024, will be the final dividend on the Series 41 shares and will be paid on Jan. 28, 2025, covering the period to Jan. 31, 2025, to shareholders of record on Dec. 27, 2024.

Holders of the Series 41 shares should contact the financial institution, broker or other intermediary through which they hold the shares to confirm how they will receive their redemption proceeds.

About Canadian Imperial Bank of Commerce

CIBC is a leading North American financial institution with 14 million personal banking, business, public-sector and institutional clients. Across personal and business banking, commercial banking and wealth management, and capital markets, 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.