Mr. Jason Patchett reports

CIBC ANNOUNCES INTENTION TO REPURCHASE UP TO 20 MILLION COMMON SHARES

Canadian Imperial Bank of Commerce intends to purchase for cancellation up to 20 million common shares under a normal course issuer bid, subject to the approval of the Toronto Stock Exchange (TSX). Common shares that may be purchased for cancellation represent approximately 2.2 per cent of outstanding common shares as at July 31, 2025.

CIBC will file a notice of intention to make a normal course issuer bid with the TSX and this bid would commence following TSX's acceptance of this notice and continue for up to one year.

The normal course issuer bid will provide CIBC additional flexibility in managing its capital position and generate shareholder value.

Purchases would be made through the facilities of the TSX, alternative Canadian trading systems or the New York Stock Exchange, in accordance with applicable regulatory requirements. CIBC may periodically establish an automatic program under which its broker, CIBC Capital Markets, would repurchase CIBC shares pursuant to the bid within a defined set of criteria determined by CIBC. The price paid for the common shares will be the market price at the time of the purchase.

CIBC's previous normal course issuer bid for the purchase of up to 20 million common shares commenced on Sept. 10, 2024, and terminated on July 31, 2025, upon completion of the repurchase and cancellation of the full 20 million common shares at an average price of $87.79 per share for a total amount of $1.8-billion.

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 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.

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