The Toronto Stock Exchange reports that Micron CDR (CAD Hedged) has split its Canadian depositary receipts (CDRs) on a five-new-for-one-old basis. According to the TSX, the record date for the split is March 6, 2026, and the payable date is March 9, 2026. The due-bill trading period is from March 6, 2026 (at the open) until March 9, 2026 (at the close), inclusive. The ex distribution and postsplit trading date is March 10, 2026 (at the open). The effective date of adjustment to the CDR ratio is March 9, 2026 (at the close).

The TSX reports that each Micron CDR is equivalent to owning a fractional interest in the shares of common stock of Micron Technology Inc., which is represented by the CDR ratio. Since the underlying shares are not being split, the CDR ratio will be divided by five at the CDR ratio adjustment time in order to ensure that the holders of Micron CDRs are entitled to the same number of underlying shares of the underlying issuer as such holders were entitled to prior to the CDR split.

Canadian Imperial Bank of Commerce, the issuing entity, confirms that the product of the CDR ratio for the Micron CDRs and the number of Micron CDRs outstanding will be unchanged by the CDR split. Accordingly, the CDR split is not expected to have any economic impact on the value of holders' CDR positions. For example, if the CDR ratio prior to the ex distribution date is 0.16000000, a holder of 100 Micron CDRs will receive 400 additional Micron CDRs and the CDR ratio will be adjusted to 0.03200000 (0.16000000 will be divided by five) so that the CDR holder is entitled to same number (16.000000) of underlying shares as the holder was entitled to prior to the CDR split. The CDR ratio is calculated daily and is available at the CDR website of CIBC under the CDR directory tab.

For more information, see CIBC's news release dated March 2, 2026.