1. CONFIDENTIAL Global Markets: Equities Put the strength of an experienced team and global distribution capabilities behind you to originate, structure and trade equities. 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 Our Global Markets professionals are focused on providing creative ideas and sophisticated trading strategies to help you get the most from the market. 1 TSX and ATS Market Share Report, 2009-present (as provided by IRESS Market Technology as at date of publication). 2 Brendan Wood International Investment & Corporate Banking World Watch (12 months ending December 31, 2015). CONFIDENTIAL Highly-experienced sales and trading professionals leverage our macro, industry and equity research to deliver money-making ideas to help you meet your most critical goals You can trade according to your preferences and needs − mixing and matching our full suite of execution capabilities We are positioned to source all available pools of liquidity − retail, block and institutional − interacting with Canadian, U.S. and foreign equity order flow As a technology leader, we are a destination choice from every major EMS/OMS platform The leader in Canadian Equity Trading — #1 in Volume, Value & Number of Trades 1 #2 in Equity Capital Markets Market Share 2 2 Corporations Governments Institutional and Retail Clients

4. Accessing the Equity Market Rely on us for timely information and the products, services and expertise needed to reach markets around the world. 3 1 #3 for Providing the Top Investment Ideas (Brendan Wood International, Worldwide Equity Capital Markets Performance – Canadian Equities 2014 report). CONFIDENTIAL Drive your success with timely and experienced advice on strategic and tactical investment and risk management initiatives We have a large and knowledgeable Equity Sales team with decades of experience −Located in Toronto, Montreal, Vancouver, New York, London and Hong Kong Bring a deep knowledge of industry sectors and companies and provide timely insights on market trends and attractive investment opportunities Have long-standing relationships with some of the world’s largest institutional investors Are noted for delivering top investment ideas 1 Provide an integrated set of capital markets capabilities, including access to equity derivatives and foreign currency solutions Roadshows held throughout the year introduce corporate clients to large institutional investors globally Get assistance evaluating and managing opportunities and risks as you trade securities and structures We have distribution capabilities in major financial centres and secondary markets around the world Recognized as a top Canadian trader in both high- and low-touch execution, providing a complete range of services to meet different trading preferences and needs Have one of the largest retail networks in Canada, and are the largest provider of direct electronic access in the country −Coupled with our algorithmic product line-up and institutional order flow, this provides a varied and diverse pool of liquidity Connected to every major EMS/OMS enabling you to simply select CIBC from your existing trading terminals or code via FIX Execution Sales

5. Sector Specialists Benefit from deep coverage of the natural resource sector where we are well recognized for our years of experience. 4 1 Global Finance magazine, 2015. 2 By value according to IRESS Market Technology — Broker Share History (YTD 2015). 3 #3 for Providing the Top Investment Ideas (Brendan Wood International, Worldwide Equity Capital Markets Performance – Canadian Equities 2014 Report). 4 Ranked #3 according to the Brendan Wood International 2014 Canadian Equity Research Sales & Trading Performance Report. 5 2015 StarMine Analyst Awards for Canada. CONFIDENTIAL Our Sector Specialists bring an extensive knowledge of the energy and mining arenas to provide a competitive edge for clients Collaborating closely with our Research Analysts, they deliver creative ideas and execution strategies tailored to the specific business challenges faced by firms in these sectors They also partner with other capital markets teams that have deep industry experience, including: −Energy specialists located around the world who work with clients across the entire oil and gas value chain, including upstream (exploration, development, completion and production), midstream (transportation and processing) and downstream firms (refining and marketing) plus oilfield services and equipment −Metals and mining professionals located close to clients in the world's top mining centres who provide global coverage and around-the-clock execution Our specialists are very knowledgeable about companies under coverage CIBC Capital Markets ranked World’s Best Investment Bank - Oil & Gas Sector 1 #1 in all Oil & Gas Sector Trading 2 #1 in all Mining Sector Trading 2 Top Ranked Investment Ideas 3 Jeremy Kaliel: 2014 TopGun Equity Analyst — Oil & Gas — High Payout Sector 4 David Noseworthy, ranked 2 nd stock picker in Oil, Gas & Consumable Fuels 5 Adam Gill, ranked #2 as top earnings estimator in Oil, Gas & Consumable Fuels 5

6. Sales ― Hedge Funds Access information and insights specifically designed to help hedge funds hone their investment strategies. 5 1 Brendan Wood International, Worldwide Equity Capital Markets Performance – Canadian Equities 2014 Report. CONFIDENTIAL Drawing on our strong Canadian presence, we help arbitrage-focused, market-neutral firms stay on top of developments that may impact their investment strategies This includes providing: −Insights into potential corporate events that could alter the profile of a company or cause a rating change −An analysis of M&A transactions −Perspectives on how corporate transactions and decisions are perceived in the market −Commentary on distressed companies and possible corporate actions Our Corporate Access Program bridges the dialogue with a wide range of senior-level institutional and individual investors in local and global markets: −Bring an in-depth knowledge of fund-level risk and return profiles, and a thorough understanding of counterparty investment criteria Leading Institutional Equity Sales Team Noted For: Knowledge of Client Portfolios & Trading Styles 1 Quality of Sales Service 1 Top Investment Ideas 1

7. Sales ― Corporate Access Communicate your organization’s unique story and build interest with investors globally through our Corporate Access program. 6 CONFIDENTIAL A customized outreach program puts you in front of select institutional and retail investors We have strong and deep relationships we can draw upon to facilitate introductions We typically arrange over 3,800 non-deal and IPO roadshows each year −Roadshows include the development of a communication strategy, identification of suitable target investors, in-depth pre-meeting briefings and post-meeting feedback −Our in-house logistics specialists handle all the arrangements We are also diligent in providing corporate clients exposure to our retail network Our investor conferences and roundtables let you hear the views of top-quality speakers and mingle with peers A Well-Tested Formula for Efficient and Impactful Meetings

8. Execution ― Portfolio and Block Trading Work with leading portfolio and block traders on the street with experience and depth. 7 1 Brendan Wood International, Worldwide Equity Capital Markets Performance – Canadian Equities 2014 Report. CONFIDENTIAL We offer best-in-class execution and client-defined trading strategies We provide access to lit and dark markets trading Canadian equities and seamless inter-listed trading: −Real-time FX booking −Stock-specific volume routing We work collaboratively with our research, trading and product development teams to keep clients up to date on the latest market structure developments Pre-trade consulting and analytics and post-trade analytics Privately-negotiated institutional transactions Minimize the effect of unexpected market moves Avoid the impact of large volumes hitting the market Interact with Canadian, U.S. and foreign equity order flow to source liquidity Strategies and execution services include:Switch trades include: Agency Programs Transition Trades Market Neutral Hedge Trades Benchmark Trades Best-Execution Consulting Implementation Shortfall Asset Allocation Index Trades Commission Recapture Transaction Cost Analysis #1 Effectiveness in Trading Execution 1 #2 Large Block Execution 1

9. Execution ― Trading Services Diversify your investments with over 100 popular exchange-traded funds (ETFs) that we co-market with well-known asset management firms. 8 1 As at March 2016. CONFIDENTIAL ETF volumes have rocketed in recent years reflecting the adoption of these products by retail and institutional investors alike Institutional investors, in particular, are employing ETFs in innovative ways to seek exposure for tactical and passive exposure We have responded to this increased demand with a full-service institutional ETF offering, supported by a dedicated desk that brings together advanced custom technologies with strong experience in portfolio and block trading Our dedicated ETF team specializes in providing institutions with access to: liquidity; via underlying subscriptions / redemptions, working orders to maximize execution quality, execution consultancy and ETF research CIBC, a Dominating Presence in the ETF Space 1 Most Active Canadian ETFs TickerAUMADVNameCIBC% HOU$208.3518,172,610Horizons BetaPro NYMEX Crude Oil Bull Plus ETF19.03% XIU$10,094.9210,632,280iShares S&P/TSX 60 Index ETF24.09% XEG$992.075,995,662iShares S&P/TSX Capped Energy Index ETF24.35% HOD$83.433,462,035Horizons BetaPro NYMEX Crude Oil Bear Plus ETF34.89% HGD$38.483,461,139Horizons BetaPro S&P/TSX Global Gold Bear Plus ETF28.15% XGD$563.362,985,260iShares S&P/TSX Global Gold Index ETF25.85% HNU$68.472,483,709Horizons BetaPro NYMEX Natural Gas Bull Plus ETF31.02% HGU$69.671,909,143Horizons BetaPro S&P/TSX Global Gold Bull Plus ETF20.78% XSP$3,368.041,591,168iShares Core S&P 500 Index ETF (CAD- Hedged)21.91% XFN$865.281,539,608iShares S&P/TSX Capped Financials Index ETF25.61% Largest Canadian ETFs TickerAUMADVNameCIBC% XIU$10,094.9210,632,280iShares S&P/TSX 60 Index ETF24.09% XSP$3,368.041,591,168iShares Core S&P 500 Index ETF (CAD- Hedged)21.91% ZSP$2,492.00415,752BMO S&P 500 ETF5.87% XIC$2,273.60953,207iShares Core S&P/TSX Capped Composite Index ETF18.86% XSB$2,263.83435,251iShares Canadian Short Term Bond Index ETF8.55% CBO$2,164.92290,847iShares 1-5 Year Laddered Corporate Bond Index ETF6.74% XBB$2,003.55288,294iShares Canadian Universe Bond Index ETF7.94% XCB$1,466.21173,897iShares Canadian Corporate Bond Index ETF10.19% XDV$1,307.10270,646iShares Canadian Select Dividend Index ETF19.36% ZIC$1,300.02370,173BMO Mid-Term US IG Corporate Bond Index ETF31.73%

10. Execution ― Commission Management Easily customize and unbundle commissions with flexible service options and extensive online tools. 9 CONFIDENTIAL Flexible methods of commission accumulation enable money managers to maximize execution without compromising choice You have the ability to trade through a variety of execution services, including block trading, portfolio trading, algorithms and direct electronic access Two different options include Commission Sharing Arrangements and Traditional Soft Dollar Arrangements A comprehensive web portal provides 24-hour access to every aspect of your commission management activities −Directly submit invoices for same-day payment processing, and view past payments −Check a comprehensive list of 190 approved vendors, and request new vendors and research providers for consideration −Export monthly statements archived from inception −Search payments to vendors by individual provider Managers can: Customize and unbundle commissions across all equity platforms Streamline processing and consolidate trading with fewer counterparties Meet the highest level of regulatory compliance Efficiently pay for research Control and reduce brokerage account costs Obtain Canadian, U.S and U.K. reporting in the denomination of choice

11. Execution ― Electronic Trading @ CIBC Tap into an advanced direct electronic access platform, supporting your needs for agility in today’s fast paced environment. 10 1 Greenwich Associates Canadian Equity Investors Study (2014 – 2015). CONFIDENTIAL Efficiently access lit and dark markets trading Canadian equities with our best-in-class smart order router powered by an ultra low-latency, high-throughput engine We deliver access to liquidity with flexible and controllable risk management tools, fully integrated with order routing capabilities: −Handle the most volume on the TSX of any bank, and are a large participant on other ATSs and dark pools Advanced algorithmic strategies offer high performance equity execution, adaptive to market conditions with customizable overlays providing a higher level of flexibility and control We also provide co-location facilities and a range of outsourcing services for broker-dealers This is all complemented by a host of pre- and post-trade analytics, index analysis and market structure research CORE @ CIBC Algos @ CIBC Filters @ CIBC Co-Location @CIBC Broker Services @ CIBC Analytics & Market Structure @ CIBC CIBC Capital Markets is a Greenwich Share Leader in Canadian Equity Algorithmic Trading 1

12. Electronic Trading ― CORE @ CIBC Let intelligence, reliability and speed drive your choice of execution destinations. 11 CONFIDENTIAL CORE @ CIBC, our smart order router, automates the search for liquidity achieving Best Execution through low latency access to multiple venues Powered by an ultra low-latency, high-throughput engine that supports static, dynamic and compound rules using specialized hardware, it provides: −Automated access to liquidity at all markets trading Canadian names −Flexible and controllable routing capabilities with sub-millisecond round-trip performance −Real-time liquidity profiling to optimize price and cross-border liquidity discovery −Direct connections via FIX, STAMP or custom protocols, certified to a variety of third-party order management systems −State-of-the-art risk filtering using highly configurable pre-trade and concurrent filters Best Execution Market Impact Transaction Cost Best Price Immediacy Liquidity Fill Probability CORE @ CIBC

13. Electronic Trading ― Filters @ CIBC Ensure risk-controlled electronic trading with our customized gating solutions. 12 CONFIDENTIAL Filters @ CIBC provide a variety of risk controls to safeguard your order flow, including: −Net and gross daily value credit checks, including open exposure −Price deviation checks −Single order volume and value fat finger checks −Position limits −Restricted lists −Soft and hard rejects Choose from one of three options for sub-microsecond to sub-millisecond latency: 1.Ultra-low latency risk management 2.Low latency risk management 3.Dual risk and execution management

14. Electronic Trading ― Algos @ CIBC Elevate your trading strategies using a powerful set of algorithms for Canadian and U.S. execution. 13 Powered by Pragma™ and the Pragma logo are trademarks of Pragma Securities, LLC and used herein with permission of Pragma Securities, LLC. Pragma Securities, LLC is not an affiliate of Canadian Imperial Bank of Commerce or any of its affiliates. CONFIDENTIAL Advanced trading strategies offer high-quality and risk-controlled execution, and reduced market impact Integrated risk checks and control actions include order consistency checks, maximum order size and notional value checks, average daily volume and price variation checks Proprietary anti-gaming logic prevents crossing at an adverse price Also benefit from real-time foreign exchange management, the ability to settle in Canadian or U.S. dollars and support from a highly-experienced team of professionals Strategies Trajectory-basedOpportunisticDynamic DMA VWAP TWAP POV IS CLOSE Strike DARK WORK Peg Multi-post Take Smart Market Least AggressiveMost Aggressive Proven track record Connectivity to the most comprehensive list of lit and dark markets FIX connectivity to a choice of OMS Full transparency with post-trade reporting Execution within a risk-controlled environment Custom algo development and analysis available for clients Proprietary anti-gaming logic Powered by

15. Electronic Trading ― Co-Location @ CIBC Significantly reduce the impact of latency on trading and ensure fast and efficient market access when time is critical. 14 CONFIDENTIAL Leverage opportunities to maximize trading strategies through low-latency access to the Canadian equity and derivative marketplaces We work with the TMX Group in Markham, the premiere Canadian exchange co-location facility −Provides access to the Toronto Stock Exchange, TSX Venture Exchange, TMX Select and Montreal Exchange TMX’s co-location cabinets are pre-wired to receive low latency data feeds directly from the TMX trading engines −We maintain an inventory of available racks which, in most cases, you can lease directly from us Low Latency Market Access

16. Electronic Trading ― Broker Services @ CIBC Focus on the core areas of your broker-dealer business by utilizing a wide range of outsourced services. 15 CONFIDENTIAL Our platform currently clears and/or executes 25 — 30% of Canadian equity market volumes, providing a definitive cost and capability advantage We offer extensive technology, particularly in the areas of ticketing and real-time risk management Our network connectivity, co-location footprint and deep links with vendors, marketplaces and regulators combine to position us as the outsourcing provider of choice for broker-dealers As a carrying broker, we provide: Clearing and settlement of trades Custody of firm and client funds and securities, Maintenance of books and records Financing of trade settlements as well as firm and client positions Access to our full set of capital markets capabilities

17. Electronic Trading ― Analytics & Market Structure @ CIBC Stay on top of topical issues with briefing notes and thought leadership pieces. 16 CONFIDENTIAL Our series of briefing notes and white papers address a wide range of subjects that have an impact on the operating environment and competitiveness of the Canadian financial marketplace If you trade with us, you have access to the full breadth of economics, equity research and capital markets investment strategy our specialists provide Sample topics: Redefining Canada’s Order Protection Rule Canadian Market Volumes Broker Priority — Saving the Spread Latest news of Aequitas Eye on Execution