1. CONFIDENTIAL Global Markets: Foreign Exchange | Commodities | Rates | Equity Derivatives Growth Markets | Tailored Products | Securitization Access the products, services and know-how needed to effectively transact in multiple asset classes and markets around the world. February 2016

2. Global Markets We work with corporations, governments and institutional and retail clients across a broad array of asset classes. CONFIDENTIAL Coverage includes foreign exchange, commodities, fixed income, equities and growth markets Structured notes, equity derivatives and a range of interest rate, commodity and foreign exchange hedging solutions are also available We are positioned to source available Canadian pools of liquidity interacting with Canadian, U.S., and Foreign Equity order flow, and trade inter-listed symbols simultaneously in the Canadian and U.S. markets A full array of execution methods based on your preferences and needs that include access to: −Professionals on our trading desks −An advanced suite of electronic trading solutions −Trading capabilities on globally recognized multi-dealer platforms Asset-backed debt products are provided to clients 1 Comprehensive Global Markets Capabilities: Commodities Electronic Execution Equities Foreign Exchange Growth Markets Prime Brokerage Rates Research Risk Management Solutions Securitization Structured Notes Trading & Measuring Solutions

3. Global Markets Power your growth strategies with extensive resources from across CIBC Capital Markets. 2 CONFIDENTIAL Global Markets professionals work closely with you to deliver innovative ideas and tailored solutions Intelligence from our widely-recognized Research teams include: −Timely economic analysis that delves into opportunities and risks in the Canadian and global markets −Cross-asset class research that offers insightful perspectives on rates, foreign exchange and government and corporate credit −High-quality equity research with in-depth coverage of all major sectors of the Canadian economy and select international companies

4. Foreign Exchange Meet your diverse currency needs with extensive resources from our Foreign Exchange team. 3 1 Greenwich Associates Global Foreign Exchange Services Study (2013 & 2014). CONFIDENTIAL Products range from basic foreign exchange to customized multi-currency hedging and yield-enhancing strategies This is backed by strong expertise in the Canadian market, and one of the largest books in Canadian dollars −Market-making capabilities are available in both domestic and growth markets, and we offer spot, forwards, non-deliverable forwards and options in a wide range of growth markets Experienced professionals provide timely market insight, creative ideas, access to tools, research and analytics Our single-dealer foreign exchange platforms deliver robust e-trading solutions: −FX Online @ CIBC enables clients with CIBC business bank accounts to order foreign currency wires and drafts, and transfer funds between cross-currency accounts −Power Play @ CIBC is tailored for institutional and large corporate clients providing state-of-the-art electronic trading technology with optimal access to global liquidity through our low-latency infrastructure Extensive Liquidity Our Foreign Exchange team: Provides 24-hour liquidity in G30 and select emerging market currencies Is a major liquidity provider to the Canadian dollar market Has the ability to execute large currency transactions with minimal market disruption CIBC Capital Markets is a 2014 & 2015 Greenwich Quality Leader in Canadian Foreign Exchange Services 1

5. Commodities Effectively handle exposure for a wide array of commodity products. 4 1 The GlobalCapital Americas Derivatives Awards (2014 & 2015). CONFIDENTIAL A highly-experienced metals and energy risk management derivatives team is based in New York, with representatives in Toronto, Calgary, London and Hong Kong −Their backgrounds include working at major industrial firms, trading companies and investment banks Clients include exploration and production companies, refineries, mining companies, utilities (regulated and non-regulated), airlines, industrial manufacturing companies, asset managers, investment funds, marketers, investors and government entities Annual educational seminars with industry and accounting experts underscore our strong commitment to continually inform clients of important economic and market developments and innovative investment opportunities Commodity products include: Energy: crude oil, petroleum products, natural gas Commodity Index Products: beta, enhanced beta, alpha, custom Precious metals (Financial and Physical): gold, silver, platinum and palladium Agricultural products: grains and softs Base metals: LME copper, primary aluminum, zinc, nickel, lead and tin, COMEX high grade copper CIBC Capital Markets named Canada Derivatives House Of The Year 1

6. Commodities Access a full set of price risk management solutions that are available for underlyings in multiple asset classes. 5 1 Greenwich Associates 2013 Canada Energy Commodities Study. CONFIDENTIAL We are widely recognized as one of the top providers of structured derivatives and can address your specific financing, operating, hedging or investing requirements, whether you need traditional products or a new structure Customized structures can be tailored to fit into new commodity areas and we can link energy derivatives with other financial products and various financing facilities, such as traditional lending, commercial paper and private placements CIBC is Canada’s first Commodity Index provider Swaps Fixed for floating swaps Floating for fixed swaps Basis swaps Spreads Forwards Structured Products Commodity-linked financing Inventory monetization Contract monetization Metal consignments Volumetric production payments Fade-in swaps Options Caps, floors and collars European, American, Asian Digital Swaptions Quanto Compound Basket CIBC Capital Markets is the market share leader in OTC Energy Derivatives in Canada 1

7. Rates Address your fixed income trading and hedging needs with comprehensive products and timely market insights. 6 1 Greenwich Associates 2015 Canadian Fixed-Income Investors Study. CONFIDENTIAL We have capabilities in Canada and major international financial centres in primary and secondary markets for a variety of products denominated in Canadian and U.S. dollars Experienced sales and trading teams help execute and support all of your transactions, ensuring quality of fills and supervising exchange-reporting requirements Fixed Income Online @ CIBC enables you meet your fixed income financing and investing needs securely online CIBC Capital Markets is a 2015 Greenwich Share Leader in Overall Canadian Fixed-Income Market Share 1 Fixed income products: Government of Canada, Provincials, Municipals and Strip bonds C$ and US$ high yield bonds C$ and US$ investment grade corporates and Maples C$ ABS / MBS / CMBS / Covered bonds US$ global, Yankees, supra and sovereign bonds US$ and EUR, Lat Am and Caribbean bonds GBP investment grade corporates CAD, AUD, NZD, NOK, SEK Euro bonds

8. Rates Access customized vanilla and structured hedging solutions in multiple currencies from our Interest Rate Derivative specialists. 7 CONFIDENTIAL We have over two decades of experience as a derivatives dealer in Canada, plus reputable market specialists located globally We offer sophisticated trading, effective execution and competitive pricing, and are a major liquidity provider in hedging products to key sectors in the financial markets Full-service capabilities are available in over-the-counter interest rate products based on underlying markets in Canada, the U.S., Europe and Asia Swaps Single-currency swaps Cross-currency swaps Forward-starting swaps Accreting/amortizing swaps Quanto swaps Structured Products Fade-in swaps Switch swaps Carry swaps Extendible swaps Expandable swaps Range Bonus Accumulator Extendible fade-in swaps Options Caps, floors and collars European, Bermudan Swaptions Quanto Barrier (single, double)

9. Rates Work with us as we originate, trade and distribute short-term debt instruments. 8 1 #2 Candeal Money Market Electronic Trading. 2 #3 in Money Market Trading with Investors by volume, IIROC 2015. CONFIDENTIAL We are a significant player in the money market space and a top-ranked dealer on Canadian multi-dealer platforms 1 Money Market Online @ CIBC provides real-time access to Canada, bankers acceptances, provincial bills and commercial paper An integrated repos operation offers funding and enhanced portfolio profitability in repurchases and reverse repurchases for government, provincial and CHT securities −Emphasis is on the creation and support of new products to meet client needs due to changing market conditions −We provide direct coverage by repo traders for real-time market information Money market products include: Government of Canada treasury bills Federally-guaranteed agency debt Short-term provincial debt securities Bankers acceptances Commercial paper Term deposits US$ certificates of deposit CIBC Capital Markets is a top ranked money market dealer 1,2 and the first Canadian bank to offer Canadian money market products on Bloomberg’s BOOM CA electronic trading platform

10. Equity Derivatives Back your equity derivative trading with actionable ideas, market commentary and high-quality option execution. 9 1 The GlobalCapital Americas Derivatives Awards (2014 & 2015). CONFIDENTIAL Our analytical teams are committed to identifying trends early on and developing exploitable investment opportunities We are an industry leader in providing liquidity for both exchange-traded and over-the-counter options in Canada and the U.S. You will be able to tap into significant strength in block trading and convertible bonds Quantitative and technical research products have been developed to complement our fundamental approach Derivatives include: Collars Call/Put spreads Calendar spreads Swaps Straddles Customized equities, indices and baskets CIBC Capital Markets named Canada Derivatives House Of The Year 1

11. Growth Markets Support your expansion initiatives with specific capabilities for growth markets around the world. 10 1 CIBC Capital Markets ranked among the most accurate FX forecasters spanning major, emerging Asian and Latin American currencies in the fourth quarter of 2013 (Bloomberg data, 2014). CONFIDENTIAL For clients looking to emerging markets, we provide: −Foreign exchange: We trade cash, non-deliverables and options in many currencies, and execute physical delivery in the Americas, Asia, Europe, Middle East, Africa, and Asia — including Renminbi (RMB) with Canada being designated the first trading hub in the Americas −Fixed income: Strong capabilities in South America and the Caribbean include dollar-denominated sovereign and corporate bonds. We also trade Asian, Mexican and Chilean interest rate swaps −Equities: Our tools, execution intelligence, settlement infrastructure and deep relationships help you effectively develop and deploy your strategies −Research: We track macroeconomic developments and information on currency flows, cross-market correlations, central bank activity and more to help you assess implications for international markets CIBC Capital Markets ranked among the most accurate FX forecasters spanning major, emerging Asian and Latin American currencies 1

12. Tailored Products Handle complex situations with solutions tailored to your particular market views and risk tolerances. 11 1 Brendan Wood International Investment & Corporate Banking World Watch (12 months ending December 31, 2015). 2 Bloomberg Canada Capital Markets League Tables, H1 2014. CONFIDENTIAL Our teams will present you with creative solutions if you are: −Seeking exposure to an asset class that is difficult to access −Monetizing a specific market view −Managing the risks of a multi-national business Our Structured Notes are available to Canadian and U.S. retail and institutional investors, and to institutional investors in most other jurisdictions Multi-asset trading and hedging strategies support those who want to trade immediately to capitalize on market conditions or wait for the market to move in their favour Tailor-made hedging solutions help you manage exposure, whether for a well-defined set of risks in the near term or complex risks that extend many years into the future #1 in Structured Products Market Share 1 CIBC Capital Markets ranked #1 in Canadian Retail Structured Products 2 Customized exposure to: Equities ― stocks, equity indices and ETFs Commodities ― energy, metals, agriculture and commodity indices Fixed income ― rates, sovereign and corporate bonds Foreign currency ― developed and growth markets Alternative assets ― algorithmic indices, mutual/hedge funds and targeted sectors such as U.S. master limited partnerships

13. Securitization Access capital markets for financing through the placement of asset-backed products. 12 CONFIDENTIAL For clients, we are an active participant in structuring and distributing asset-backed debt products Our Securitization team is an innovator in the field and has consistently developed new structures to meet the evolving needs of our clients Clients access capital markets for financing through the placement of asset-backed commercial paper in the short-term market and asset-backed notes in the medium-term market Through the use of structural mitigants and credit protection, issues are highly-rated debt products backed by the cash flows generated on assets Advice and services for every facet of the securitization business: Origination Structuring Credit risk mitigation Distribution On-going administration and reporting A focus on traditional asset classes: Automotive finance Credit cards Equipment finance Franchise loans Residential and commercial mortgages Trade receivables