Commentary & Deal Flow

Reoffer: 6NC5: MS+100bp / 99.692 / 4.445%
Benchmark: 6NC5: OBL 2.9% 10-Aug-31 #194 @ 98.744 bid / B+127.1bp / HR 98%

6NC5 Green: Final Books €725m+ (good at re-offer). Peak book above €1.1bn+ (pre-rec)

Launched: 6NC5: €600m @ MS+100bp - Books above €1.1bn+ (pre-rec)
Spread set at: 6NC5: MS+100bp - Books above €1bn+ (pre-rec)
IPTs: 6NC5: MS+120a

• Issuer: Canadian Imperial Bank of Commerce (the "Issuer")
• LEI: 2IGI19DL77OX0HC3ZE78
• Expected Issue Ratings: A2/A-/AA- (Moody's/S&P/Fitch)
• Form / Status of Notes: Bearer, NGN / Senior, Unsubordinated and Unsecured Bail-inable Notes
• Size: €600m
• Tenor: 6NC5 Fixed-to-Floating
• Settlement Date: 29-Oct-26 (T+5)
• Maturity Date: 29-Oct-32
• Optional Redemption Date: 29-Oct-31
• Coupon: 4.375% per annum, ACT/ACT ICMA, Following, until the Optional Redemption Date. If not redeemed, quarterly coupon of 3mE + 100bps, ACT/360, Modified Following, until the Maturity Date
• Re-offer: MS+100bps / 99.692 / 4.445%
• Benchmark: OBL 2.9% 10-Aug-31 #194 (98.744 bid) +127.1bps / HR 98%
• Listing / Denomination: Regulated Market of the Luxembourg Stock Exchange / €100k + €1k in excess thereof up to (and including) €199k
• Business Days: London, New York, Toronto and T2
• Clearing Systems: Euroclear and Clearstream, Luxembourg
• Governing Law: The laws of the Province of Ontario and the federal laws of Canada applicable therein
• Target Market: Professional Clients and Eligible Counterparties (EU MiFID and UK MiFIR Product Governance) – all distribution channels / No EEA PRIIPs KID or UK CCI disclosure document required by the FCA Product Disclosure Sourcebook (DISC) as not available to EU or UK retail investors
• Bail-In: The Notes are bail-inable Notes and subject to conversion in whole or in part—by means of a transaction or series of transactions and in one or more steps—into common shares of the Bank or any of its affiliates under subsection 39.2(2.3) of the Canada Deposit Insurance Corporation Act (the "CDIC Act") and to variation or extinguishment in consequence, and subject to the application of the laws of the Province of Ontario and the federal laws of Canada applicable therein in respect of the operation of the CDIC Act with respect to the Notes. The Notes do not constitute deposits that are insured under the CDIC Act. For a description of the Canadian bank resolution powers and related risk factors attaching to investment in the Notes, see information under the headings "Status of Notes—Bail-inable Notes" and "Risk Factors" in the Base Prospectus.
• Documentation: Issued under CIBC's US$40,000,000,000 Note Issuance Programme described in the prospectus dated 26-Jun-26 (the "Base Prospectus") and as completed by the Final Terms
• Selling Restrictions: Regulation S compliance Category 2, TEFRA D, not Rule 144A eligible. No sales to retail in EEA or UK. Singapore Sales to Institutional Investors and Accredited Investors only. No Sales into Italy
• Joint Lead Managers: CIBC Capital Markets, Crédit Agricole CIB (B&D), DZ BANK, Société Générale Corporate & Investment Banking, UBS Investment Bank and UniCredit
• ISIN / Common Code: XS3552745518 / 355274551
• Timing: Priced, ToE 14:20 UKT / 15:20 CET / FTT 15:00 UKT / 16:00 CET
• UoP: The net proceeds from the issue of the Notes are intended, as of the Issue Date, to be applied by the Issuer to the financing and/or refinancing, in whole or in part, of loans, investments or internal or external projects that fall within the scope of the Eligibility Criteria as outlined in the section of the Base Prospectus titled "Use of Proceeds – Green Bonds, Social Bond or Sustainability Bonds" and such Notes will therefore be Green Bonds.
• Advertisement: This communication is an advertisement and not a prospectus for the purposes of Regulation (EU) 2017/1129 and underlying legislation. The Base Prospectus dated 26-Jun-26, and the Final Terms, when published, will also be available via: https://www.cibc.com/en/about-cibc/investor-relations/debt-information/note-issuance-programme.html
• Stabilisation: FCA/ICMA