THIS ANNOUNCEMENT CONTAINS INFORMATION THAT QUALIFIES, OR MAY QUALIFY, AS INSIDE INFORMATION WITHIN THE MEANING OF ARTICLE 7(1) OF THE MARKET ABUSE REGULATION (EU) 596/2014 AS IT FORMS PART OF DOMESTIC LAW IN THE UNITED KINGDOM BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("UK MAR")

CANADIAN IMPERIAL BANK OF COMMERCE

FLOATING RATE DEBENTURES DUE 2084 (ISIN: XS0010557121)

REDEMPTION NOTICE AND CANCELLATION OF LISTING

TO:   Holders of Floating Rate Debentures due 2084 (the "Debentures") of Canadian Imperial Bank of Commerce ("CIBC")

Reference is made to the trust indenture dated July 24, 1985, between CIBC and CIBC Mellon Trust Company (as successor to National Trust Company) (the "Trustee"), as supplemented by a first supplemental indenture dated January 28, 2014 (the "Indenture").

Notice is hereby given pursuant to Article Thirteen of the Indenture that all of the principal amount of Debentures outstanding on January 31, 2025 (the "Redemption Date") will be redeemed as of the Redemption Date, upon payment of a redemption amount of (i) US$1,000 for each US$1,000 principal amount, and (ii) all accrued and unpaid interest hereon to but excluding the Redemption Date (collectively, the "Redemption Price"). Holders of Debentures on the Redemption Date will also be entitled to receive a full regularly scheduled interest payment on the Redemption Date in the manner contemplated by the Indenture. Note all capitalized terms used herein have the meaning ascribed thereto in the Indenture, unless otherwise indicated.

Pursuant to Article Three of the Indenture, CIBC has received approval from the Office of the Superintendent of Financial Institutions to redeem all of the Debentures.

The Redemption Price will be delivered by CIBC directly to Banque Internationale à Luxembourg on behalf of the Trustee and will be payable upon presentation and surrender of the certificates evidencing the Debentures called for redemption at the following corporate trust office or through such other delivery arrangements as may be established between the registered holders of the Debentures and the Trustee and consented to by CIBC:

Banque Internationale à Luxembourg

69 route d'Esch

2953 Luxembourg

Grand Duchy of Luxembourg

Attention: Agency Services

The interest upon the principal amount of Debentures called for redemption shall cease to be payable from and after the Redemption Date, unless payment of the Redemption Price shall not be made on presentation for surrender of such Debentures at the above-mentioned corporate trust office on or after the Redemption Date or prior to the setting aside of the Redemption Price pursuant to the Indenture.

CIBC will arrange for the listing of the Debentures on the Official List of the United Kingdom Financial Conduct Authority and the admission of the Debentures to trading on the Main Market of the London Stock Exchange plc to be cancelled following the redemption of the Debentures.

For the purposes of UK MAR and Article 2 of Commission Implementing Regulation (EU) 2016/1055 as it forms part of domestic law in the United Kingdom by virtue of the European Union (Withdrawal) Act 2018, this announcement is made by Wojtek Niebrzydowski, Vice-President, Global Term Funding, Treasury of CIBC.

For further information, please contact Investor Relations: Jason Patchett, 416-980-8691, [email protected].