Mr. Harry Culham reports

DAVID MACNAUGHTON JOINS CIBC AS A STRATEGIC ADVISOR

David MacNaughton has joined Canadian Imperial Bank of Commerce as a strategic adviser. In this role, he will further strengthen CIBC's office of the chief executive officer by providing insights to senior business leaders across areas including public policy, regulatory developments and stakeholder relations. He will also work alongside the bank's experienced group of vice-chairs to bring an unmatched level of expertise and insight to CIBC's clients on strategic growth opportunities in a highly fluid operating environment.

Mr. MacNaughton is one of the most respected voices in Canada's business community. As one of the country's most experienced diplomats, he served as Canada's Ambassador to the United States from 2016 to 2019. During this important period which saw the renegotiation of the North American Free Trade Agreement, Mr. MacNaughton's strategic vision and constructive approach to advancing cross-border relations were instrumental in achieving enduring value for key sectors across Canada. He is also deeply experienced in public policy and opinion, having served as chairman of StrategyCorp, working closely with leading organizations to help them understand evolving public policy and deliver for their stakeholders.

"David's highly informed perspective on the key issues that are shaping the operating environment of tomorrow will be of strategic value to our bank as we work alongside our clients to help them achieve their growth ambitions," said Harry Culham, president and chief executive officer, CIBC. "His unmatched insights in areas such as global trade and public policy will support our team in executing on our client-focused growth strategy across borders, and will help our clients navigate a complex environment with greater certainty and success."

Mr. MacNaughton joins as strategic adviser in CIBC's recently established office of the CEO. This group brings together a prominent and highly connected team of senior leaders from across the bank to deliver the highest level of expertise and insights to the bank's strategic client relationships, while taking an enterprise-wide view.

"Our strategic buildout of the office of the CEO is aimed at furthering CIBC's position as the most client-focused bank in the industry and delivering an unparalleled experience in helping strategic clients and partners identify opportunities and grow their business," said Mr. Culham. "I've met with hundreds of clients in recent months from all sectors of our economy, and it's clear from those conversations that we're at a pivotal moment in our nation's history. As we make generational investments to shape our economic future, our team will work alongside our clients to ensure they have unparalleled access to the insight and experience that will enable them to succeed and create a more prosperous economic future."

About Canadian Imperial Bank of Commerce

CIBC is a leading North American financial institution with 15 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.