Mr. Jason Patchett reports

CIBC ANNOUNCES NOTICE OF REDEMPTION OF FLOATING RATE SUBORDINATED CAPITAL DEBENTURES DUE 2085

Canadian Imperial Bank of Commerce will redeem in full its floating rate subordinated capital debentures due 2085. CIBC has given notice to the holders of the debentures that it will redeem the full $9.75-million (U.S.) outstanding principal amount of the debentures on Feb. 28, 2025.

The debentures will be redeemed on the redemption date for the aggregate amount of $10,011,865.50 (U.S.), representing a redemption price of (i) $1,000 (U.S.) for each $1,000 (U.S.) principal amount, and (ii) all accrued and unpaid interest to but excluding the redemption date.

Pursuant to the terms of the trust indenture governing the debentures, CIBC has received approval from the Office of the Superintendent of Financial Institutions to redeem all of the debentures.

Beneficial owners of the debentures are encouraged to contact their investment dealer if they have any questions about this redemption.

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.