Table of Contents Report to Shareholders for the Third Quarter, 2022 www.cibc.com August 25, 2022 Report of the President and Chief Executive Officer Overview of results CIBC today announced its financial results for the third quarter ended July 31, 2022. Third quarter highlights Results for the third quarter of 2022 were affected by the following items of note aggregating to a negative impact of $0.07 per share: • $50 million ($38 million after-tax) in acquisition and integration-related costs as well as p ...

Canadian Imperial Bank of Commerce (NYSE:CM) Q2 2022 Earnings Conference Call May 26, 2022 7:30 AM ET Company Participants Geoff Weiss - Senior Vice President, Investor Relations Victor Dodig - President & Chief Executive Officer Hratch Panossian - Senior Executive Vice-President & Chief Financial Officer Shawn Beber - Senior Executive Vice-President, Chief Risk Officer Mike Capatides - Senior Executive Vice-President & Group Head, US Region; President & CEO, CIBC Bank USA Harry Culham - Senior Executive Vi ...

Table of Contents Report to Shareholders for the Second Quarter, 2022 www.cibc.com May 26, 2022 Report of the President and Chief Executive Officer Overview of results CIBC today announced its financial results for the second quarter ended April 30, 2022. Second quarter highlights Results for the second quarter of 2022 were affected by the following items of note aggregating to a negative impact of $0.15 per share: • $106 million ($77 million after-tax) in acquisition and integration-related costs as well a ...

Financial Data and Key Metrics Changes - The company reported adjusted earnings of CAD 1.9 billion or $4.08 per share, up 14% from the previous year, with top line growth of 11% driving positive operating leverage [5][6] - Adjusted net income increased by 15% year-over-year, while pre-provision pretax earnings rose by 11% [16] - The adjusted return on equity (ROE) was 17.6%, and the Common Equity Tier 1 (CET1) ratio stood at 12.2%, which is 170 basis points above the regulatory minimum [6][16] Business Line Data and Key Metrics Changes - In Canadian Personal and Business Banking, net income was $697 million, up 7% year-over-year, with revenues of $2.2 billion, reflecting broad-based volume growth and double-digit growth in fee income [24] - Canadian Commercial and Wealth Management saw net income rise by 31% to $462 million, with commercial banking revenue up 24% driven by 19% loan growth [25] - U.S. Commercial and Wealth Management reported net income of $188 million, up 21%, with average loan growth of 13% in the segment [26] Market Data and Key Metrics Changes - The North American wealth management business experienced double-digit growth in assets under management, driven by market activity and strong investment performance [11] - Trading revenue in Capital Markets grew by 20% year-over-year, with strong performance in equities and foreign exchange [20] - Noninterest income was $2.4 billion, up 11% from the prior year, driven by growth in market-related and transactional fees [20] Company Strategy and Development Direction - The company announced a proposed 2-for-1 stock split to make shares more accessible to retail investors [7] - Strategic investments include partnerships with fintech firms to enhance digital banking capabilities and improve client experiences [8][9] - The company aims to balance ongoing investments with efficiency improvements to achieve financial objectives in fiscal 2022 and beyond [22] Management Comments on Operating Environment and Future Outlook - Management highlighted uncertainties due to geopolitical tensions, supply chain disruptions, and inflationary pressures, but emphasized a resilient portfolio and strong balance sheet [14][39] - The company is well-positioned to support clients through continued uncertainty, with strong credit quality and allowance levels above pre-pandemic levels [31][39] - Future growth is anticipated to be supported by rising interest rates, with an estimated benefit of around $450 million on net interest income from a 100 basis point increase [19] Other Important Information - The company committed $100 million to invest in low carbon and climate tech funds to support climate innovations [13] - The credit quality of the Costco portfolio, which is set to be integrated, is favorable compared to the existing cards portfolio [38] Q&A Session Summary Question: Domestic commercial loan growth drivers - Loan growth was diversified by geography and asset class, with 25% from real estate and 40% from new clients [42][43] Question: Expense growth and operating leverage - Expense growth was driven by performance-based compensation and strategic investments, with expectations for high single-digit growth moving forward [47][50] Question: Average loan balances in Capital Markets - Loan growth was primarily driven by corporate and institutional clients, particularly in the U.S., with a focus on asset-based financing [54][55] Question: Open banking readiness - The company is prepared for open banking and has made fintech investments to enhance business banking services [60][61] Question: Allowances on performing loans - The company has seen a trend of releases in provisions due to improving economic conditions, but uncertainties remain [66][68]

Canadian Imperial Bank of Commerce (NYSE:CM) Q4 2021 Earnings Conference Call December 2, 2021 8:00 AM ET Company Participants Geoff Weiss - Senior Vice President, Investor Relations Victor Dodig - President & Chief Executive Officer Hratch Panossian - Chief Financial Officer Shawn Beber - Chief Risk Officer Harry Culham - Senior Executive Vice-President and Group Head, Capital Markets Laura Dottori-Attanasio - Senior Executive Vice-President and Group Head, Personal & Business Banking, Canada Mike Capatide ...

Canadian Imperial Bank of Commerce (NYSE:CM) Q3 2021 Earnings Conference Call August 26, 2021 8:00 AM ET Company Participants Geoff Weiss - Senior Vice President, Investor Relations Victor Dodig - President & Chief Executive Officer Hratch Panossian - Chief Financial Officer Shawn Beber - Chief Risk Officer Harry Culham - Senior Executive Vice-President and Group Head, Capital Markets Laura Dottori-Attanasio - Senior Executive Vice-President and Group Head, Personal & Business Banking, Canada Jon Hountalas ...

Canadian Imperial Bank of Commerce (NYSE:CM) Q1 2021 Earnings Conference Call February 25, 2021 8:00 AM ET Company Participants Geoff Weiss - SVP, Investor Relations Victor Dodig - President and Chief Executive Officer Hratch Panossian - Senior Executive Vice President and Chief Financial Officer Shawn Beber - Senior Executive Vice-President and Chief Risk Officer Laura Dottori-Attanasio - SEVP and Group Head, Personal and Business Banking, Canada Jon Hountalas - SEVP and Group Head, Commercial Banking and ...

Canadian Imperial Bank of Commerce (NYSE:CM) Q4 2020 Earnings Conference Call December 3, 2020 8:00 AM ET Company Participants Geoff Weiss - SVP, IR Victor Dodig - President and CEO Hratch Panossian - CFO Shawn Beber - Chief Risk Officer Laura Dottori-Attanasio - SEVP and Group Head, Personal & Business Banking, Canada Jon Hountalas - SEVP and Group Head, Commercial Banking and Wealth Management, Canada Michael Capatides - SEVP and Group Head, U.S. Region; President and CEO, CIBC Bank USA Conference Call Pa ...

Canadian Imperial Bank of Commerce (NYSE:CM) Q3 2020 Results Conference Call August 27, 2020 8:00 AM ET Company Participants Geoff Weiss - SVP, IR Victor Dodig - President and CEO Hratch Panossian - CFO Shawn Beber - Chief Risk Officer Harry Culham - Sr. EVP, and Group Head, Capital Markets Laura Dottori-Attanasio - Sr. EVP and Group Head, Personal & Business Banking, Canada Conference Call Participants Gabriel Dechaine - National Bank Financial Ebrahim Poonawala - Bank of America Securities Meny Grauman - ...

Canadian Imperial Bank of Commerce (NYSE:CM) Q2 2020 Results Conference Call May 28, 2020 8:00 AM ET Company Participants Geoff Weiss - Senior Vice President, Investor Relations Victor Dodig - President and CEO Hratch Panossian - Senior Executive Vice-President and CFO Laura Dottori-Attanasio - Senior Executive Vice-President and Chief Risk Officer Mike Capatides - Senior Executive Vice President, Chief Administrative Officer, General Counsel Shawn Beber - Chief Risk Officer Conference Call Participants Joh ...