1. CONFIDENTIAL Global Investment Banking Leverage our in-depth advice, market-leading M&A experience and extensive capital-raising services to address your most critical business objectives. February 2016

2. Global Investment Banking — Overview We offer top-quality capabilities to help you expand, diversify or restructure your operations. 1 1 Brendan Wood International Investment & Corporate Banking World Watch (12 months ending June 30, 2015). 2 Brendan Wood International Investment & Corporate Banking World Watch (12 months ending December 31, 2015). 3 Brendan Wood International Investment & Corporate Banking World Watch (12 months ending June 30, 2015). 4 Bloomberg (Full credit to lead from January 1, 2013 to October 31, 2015). 5 Greenwich Associates 2012-2015 Canadian Investment Banking Study. 6 Global Finance magazine, 2015. CONFIDENTIAL Tap into market-leading M&A and equity and debt capital-raising solutions to help you meet your strategic and financial objectives Seasoned professionals located in North America, Europe, Asia and Australia bring an intimate knowledge of capital markets and industry verticals Mergers & Acquisitions −Financial advice and execution services for acquisitions, divestitures, mergers, fairness opinions and valuations, special committee assignments, strategic defense, spin-offs and other corporate reorganizations and recapitalizations Equity Capital Markets −Financing for initial public offerings, follow-on equity issues, convertible issues, preferred shares and private placements Debt Capital Markets −Origination, execution and after-market services for public debt offerings, medium-term notes, private placements and structured notes Investment Banking Accomplishments: #2 for Investment Banking Market Share 1 #2 in Investment Banking Competitive Positioning 2 #2 for M&A Market Share 3 CIBC Capital Markets is the leading IPO underwriter in Canada 4 CIBC Capital Markets is a Greenwich Share Leader in Canadian Debt Capital Markets Market Penetration 5 CIBC Capital Markets ranked World’s Best Investment Bank — Oil & Gas Sector 6

3. Equity Financing Arrange financing for a wide range of equity and equity-linked securities with an experienced equity underwriter. 2 1 Bloomberg (Full credit to lead from January 1, 2013 to October 31, 2015). 2 Brendan Wood International Investment & Corporate Banking World Watch (12 months ending December 31, 2015). CONFIDENTIAL We offer global origination, structuring and distribution capabilities You can take advantage of one of the most extensive retail networks in Canada for new product distribution We also have distribution capabilities in major financial centres and secondary markets around the world Our team has consistently been a leading player in Canada by virtually every metric, including deals led, market share and total amount underwritten Includes: Initial public offerings Follow-on equity issues Convertible debt Preferred shares Private placements CIBC Capital Markets is the leading IPO underwriter in Canada 1 #2 in in Equity Capital Markets Market Share 2

4. Debt Financing Reach domestic and foreign markets with superior debt origination and structuring expertise and distribution capabilities. 3 1 Bloomberg Canadian Corporate Bonds (Full credit, Excusing self-led), 2015. 2 Marine Money Offshore, 2015. CONFIDENTIAL We are a prominent Debt Capital Markets franchise in new issue underwriting with significant capabilities in Canadian and U.S. debt securities, and select capabilities in the Eurobond markets Teams support the most seasoned and sophisticated debt issuers, through to the more infrequent or first-time issuers Private Placements professionals offer end-to-end solutions, from origination and structuring to execution and investor relations −The team draws on long-standing relationships to provide broad distribution to the most aggressive investors in Canada, the U.S. and Europe Commitment to Environmentally Responsible Financing −CIBC Capital Markets is a registered member of the Green Bond Principles (GBP), a set of voluntary guidelines designed to promote integrity in the green bond market where capital is raised to fund projects with environmental benefits. −We are committed to financing new and innovative projects that contribute to cleaner, alternative or renewable energy supplies, including biogas, biomass, district energy systems, hydroelectric, geothermal, solar and wind. CIBC Capital Markets also led the first C$ Green Bond issued by a Canadian Government. Expertise in originating: Public debt offerings Medium-term notes Private placements Structured note transactions Backed by a strong domestic sales and trading platform and a global trading and distribution network in major financial centres. #2 in Canadian Corporate Bond Issuance (by volume and deal count) 1 Deal of the Year – Private Placement: Deep Panuke (Project Bond Financing) 2

5. CONFIDENTIAL Industry Expertise Partner with experienced industry bankers and leverage firm-wide resources to address your specific needs. 4

6. Industry Expertise Benefit from a deep working knowledge of the unique needs of different industries. 5 CONFIDENTIAL We have extensive capabilities, including solid advisory and transaction experience, in the following industries: Diversified Industries Energy Financial Institutions Financial Sponsors Government & Agencies Investment Funds Mining Power & Utilities Project Finance & Infrastructure Real Estate Technology, Media & Telecommunications

7. Diversified Industries Get coverage across a broad set of industries from an experienced team of industry bankers. 6 1 Brendan Wood International 2015 Investment & Corporate Banking World Watch (12 months ending December 31, 2015). CONFIDENTIAL Our Diversified Industries team provides M&A and equity and debt capital-raising solutions −Works with product experts across our organization to deliver a full suite of capital markets, corporate banking and treasury services Dedicated industry specialists are located in Toronto, Vancouver, Montreal and Winnipeg Our expertise encompasses an array of industry verticals and we are equipped to meet a wide set of needs, including: −Advise on public and private M&A transactions −Advise and manage initial public offerings −Manage public equity and debt issuances −Provide debt private placement financing −Provide bridge, revolving and acquisition financing Have extensive experience in the following industries: Agriculture & Fertilizer Specialty Chemicals Consumer Products Industrials Paper & Forest Products Retail Transportation #1 in Diversified market share and #3 in Diversified for Share of Top Ranked Bankers 1

8. Energy Rely on our extensive Oil & Gas expertise to provide market insights and creative solutions for all of your capital needs. 7 1 Global Finance magazine, 2015. 2 Brendan Wood International Investment & Corporate Banking World Watch (12 months ending December 31, 2015). CONFIDENTIAL Our Energy team draws on a breadth of capabilities to support: −Upstream firms ― exploration, development, completion and production −Midstream firms ― transportation and processing −Downstream firms ― refining and marketing −Plus those in oilfield services and equipment Dedicated industry specialists are located in Calgary, Houston, New York, London, Hong Kong, Beijing, Tokyo, Singapore and Sydney We have completed more M&A transactions than any other Canadian bank −Over 40 Oil & Gas professionals worldwide, supported by a dedicated Oil & Gas M&A team in Calgary and Toronto −Leading Oil & Gas M&A advisor on Canadian transactions −Provide comprehensive technical advice and represent exploration and production companies and private equity firms in the sale of undeveloped and producing assets through our offices in Calgary, Houston and London Our Corporate Lending & Syndicated Loans team provides senior corporate financing and day-to-day lending as well as acquisition and project-level financings In addition, our Corporate Cash Management team works closely with treasury departments to ensure the effective management of their operating and investment funds CIBC ranked World’s Best Investment Bank — Oil & Gas Sector 1 #2 in Oil & Gas For Share of Top Ranked Bankers, #3 in Oil & Gas market share 2

9. Energy (cont’d) Rely on our extensive Oil & Gas expertise to provide market insights and creative solutions for all of your capital needs. 8 1 By value according to IRESS Market Technology – Broker Share History (YTD, 2015). 2 Ranked #3 according to the Brendan Wood International 2014 Canadian Equity Research Sales & Trading Performance Report. CONFIDENTIAL We are a dominant equity underwriter in Canada and a leading dealer in the Canadian high yield bond market Deep capital markets experience includes: −Energy derivative capabilities ▪Crude Oil Products ― Swaps, options and structured products ▪Petroleum Products ― Swaps, options and structured products ▪Natural Gas Products ― Swaps, physical AECO, basis, options and structured products −Institutional Sales & Trading comprised of 50 professionals globally ▪Sector Specialists on the Sales team help tailor information and ideas to the unique needs of energy clients −Over 30 commodity specialists located in North America and London ▪Extensive commodity producer hedging capabilities and important geographical diversification for commodity counterparty exposure ▪Replicate commodity indices and are a hedge provider for commodity ETF’s ▪Quote major commodity indices, enhanced indices as well as alpha and custom commodity index products Our Energy Research team covers over 86 companies and provides world-class commodities research Our support for acquisition and development (A&D) activities includes global expertise in market valuation analysis, property swaps and organization and execution of property divestiture programs through auction or targeted sales processes #1 in all Oil & Gas Sector Trading 1 Jeremy Kaliel: 2010 — 2014 TopGun Equity Analyst — Oil & Gas — High Payout Sector 2

10. Energy (cont’d) Leverage a wealth of full-service A&D expertise through CIBC Griffis & Small 1 to meet your strategic and financial goals. 9 1 CIBC Griffis & Small is a trade name of Canadian Imperial Bank of Commerce; services provided by CIBC World Markets Inc. in Canada and by CIBC Inc. in the United States. CONFIDENTIAL Located in Houston, CIBC Griffis & Small provides energy-industry specific technical and transaction advisory services −Supports our global investment banking division in Calgary, Houston, London and Beijing A multidisciplinary team of engineers, geoscientists and technical support delivers superior technical expertise −Brings decades of industry E&P and transaction experience in complex resource and conventional plays, waterfloods, CO2 floods and acreage positions A&D advisory supports successful outcomes for our clients through: −Asset A&D −Strategic corporate assessments −Takeover and defense planning −Corporate M&A −Valuations and fairness opinions Our proven divestiture process includes: −Evaluation (engineering, geoscience, commercial, reserves and a fully-developed economic database) −Quantification (value estimate, preparation of all evaluation materials, information memorandum, maps and displays and virtual data rooms) −Marketing (teaser, buyer screening, access to decision makers, executive presentations, confidentiality agreements and scheduling data rooms) −Data Rooms (preparation and oversight of physical data rooms, including virtual and seismic data rooms) −Negotiation (price and terms, PSA negotiation and closing assistance)

11. Financial Institutions Work with our specialists who provide support for a wide range of financial institutions across the industry. 10 1 2015 StarMine Analyst Awards for Canada. CONFIDENTIAL Financial institutions access a full set of capabilities from our extensive line-up of products and services: −This ranges from dynamic ideas for strategic M&A and raising capital to products and services to aid investment, treasury, liquidity and credit requirements Our work includes: −M&A advice −Divestitures, privatizations and demutualizations −The underwriting of equity, equity-linked notes, options, warrants and investment grade debt −End-to-end services for private placements −Highly-customized financing solutions drawing on deep industry and market expertise −A full suite of payables, receivables, liquidity and information management solutions to address complex cash management needs Actively involved with the following sectors: Life and P&C insurance Asset managers, including mutual fund managers, institutional money managers and financial planning organizations Deposit-taking institutions Consumer, commercial and specialty finance Robert Sedran, ranked #3 as top earnings estimator in both Banks & Insurance 1

12. Financial Sponsors Access dedicated advisory and financing solutions tailored to your specific needs. 11 1 Brendan Wood International 2015 Investment & Corporate Banking World Watch (12 months ending June 30, 2015). CONFIDENTIAL Private equity investors work with our Financial Sponsors Group to: −Identify attractive investments in Canada −Structure acquisition financing and refinancing solutions −Manage a range of risks, including interest rate and currency exposures −Successfully exit investments through an initial public offering or sale We have a thorough understanding of the Canadian market and extensive experience providing unique solutions to financial sponsors We work closely with our global investment bankers across all industry groups, including: −Specialized leverage finance professionals in corporate lending and debt financing −Other seasoned team members who support our M&A and equity financing offerings #1 in FIG market share and #3 in FIG brand 1

13. Governments & Agencies Obtain assistance for all levels of government from a team with a long history of working with public sector clients. 12 1 Bloomberg Canadian Corporate Bonds (Full Credit, Excluding Self-Led), 2015. CONFIDENTIAL Our Government Origination team assists public sector clients in the issuance of debt securities in Canadian and international markets, working with: −Federal Crown corporations −Provincial governments −Provincial Crown corporations −Municipal governments −Supranational borrowers and select international government entities We advise on the formation and execution of a broad borrowing strategy as well as the timing, pricing, size, structure and tenure of individual debt issues We are active in advisory assignments where asset sales, infrastructure projects and new borrowers are introduced to the market We provide senior financing and day-to-day lending as well as acquisition and project-level financings We can also support your day-to-day transactional and reporting needs #2 in Canadian Corporate Bond Issuance (by volume and deal count) 1

14. Investment Funds Collaborate with the partner of choice for asset managers looking to stand apart from the pack. 13 CONFIDENTIAL Our Investment Funds team is known for its ability to consistently bring novel suggestions to the table −Works with global, third-party money managers looking to introduce new products to Canadian retail investors Long-standing relationships enable us to be in constant dialogue with both investors and managers to gather intelligence and understand emerging trends and opportunities We undertake extensive due diligence to assess the viability of potential new offerings −Look for the best money managers around the world to help us craft innovative solutions We use a range of vehicles, including: −Closed-end funds that cover a wide array of distinctive domestic and international strategies −Limited partnerships based on natural resources, real estate and other asset classes −ETFs and strategies that convert to ETFs

15. Mining Leverage our decades of experience and industry-leading position working with mining companies. 14 1 By value according to IRESS Market Technology – Broker Share History (YTD 2015). 2 Brendan Wood International Investment & Corporate Banking World Watch (12 months ending December 31, 2015). CONFIDENTIAL We are a recognized leader in meeting the mining industry’s multi-faceted needs −Provide financing, advisory and credit services Close to 50 global metals and mining professionals are located in Toronto, Vancouver, Sydney, London, Hong Kong, Tokyo and Beijing −Work together to provide constant coverage and around-the-clock execution We have led many of the industry’s largest gold and base metals equity transactions, and have played integral lead strategic advisory roles to global mining companies in some of the largest defining M&A transactions −21 professionals in the M&A group based in Toronto, including 5 Managing Directors with years of M&A advisory experience −Have handled more M&A transactions than any other Canadian bank −Rank as the leading financial and strategic advisor to Canadian mining clients #1 in all Mining Sector Trading 1 #2 in Metals & Mining for share of top ranked bankers and #2 in Metals & Mining TopGun nominations 2

16. Mining (cont’d) Leverage our decades of experience and industry-leading position working with mining companies. 15 1 Bloomberg (Full credit to lead from January 1, 2013 to October 31, 2015). CONFIDENTIAL We are recognized as a top-ranked equity underwriter for mining companies in Canada −Led/co-led over 1,000 offerings raising more than $62 billion in the last 10 years −Handle the majority of offerings completed by precious metals issuers −Debt origination capabilities with debt capital markets teams in both U.S. and Canada −Trading desk established in Toronto to trade both Canadian and U.S. corporates Deep capital markets experience includes: −Institutional Sales & Trading comprised of 50 professionals globally ▪Global leader in equity and metals trading ▪Sector Specialists on the Sales team help tailor information and ideas to the unique needs of mining clients We provide highly-customized financing solutions drawing on deep industry and market expertise −Includes global mining lending capabilities −A leader in the Canadian loan syndication market Our renowned Mining Research team covers approximately 94 companies across all major sectors CIBC Capital Markets is the leading IPO underwriter in Canada 1

17. Power & Utilities Partner with a prominent energy team known for its in-depth industry knowledge, breadth of offering and strength of execution. 16 1 Brendan Wood International Investment & Corporate Banking World Watch (12 months ending June 30, 2015). CONFIDENTIAL Power producers, utilities, pipelines, energy services and alternative energy companies handle their financing and capital-raising activities through our highly-experienced Power & Utilities Group Assignments involve strategic M&A, equity and debt financing as well as government advisory and privatization engagements −Leading power and utilities M&A advisor and equity underwriter in Canada −Have been lead or co-lead underwriter for the majority of power and midstream IPOs in the Canadian market, and offer a range of corporate lending products −Team of approximately 15 professionals in Toronto, Calgary and New York Within renewable and clean energy, support the financing of hydro, wind, solar, geo-thermal, waste energy and bio-energy Proven expertise and execution capabilities for our services, which include: −Strategic M&A advisory for all segments of the utilities and pipeline industries −Advisory and financing expertise with all major types of power generation −Equity and debt issuance capabilities, with particular expertise in bringing first-time issuers to market −Private placement financing for both corporate and project issuers −Alternative energy equity issuance and advisory capabilities −Restructuring and privatization of Crown-owned utilities #1 in Power market share, and #2 in Power TopGun nominations 1

18. Project Finance & Infrastructure Tap into a fully-integrated platform for infrastructure clients. 17 CONFIDENTIAL We offer financial advisory and bond underwriting and placement services, primarily in Canada, and project finance and corporate lending in Canada, the U.S., Europe and Australia −Work with construction firms, pension funds, infrastructure funds, developers, independent power producers, utilities and government/quasi-government entities −Strong knowledge of market precedents and protocol in Canada, the U.S. and Europe −Long-standing relationships with sponsors, advisors and other project finance banks Have a proven track record advising on and financing complex project financings and public-private partnerships (P3s) −Also becoming increasingly active in the growing infrastructure Maple market Specific areas of expertise include power, renewable energy, transportation, airports, ports, and education 2015 IJGlobal Americas Deals of the Year Awards: North American Project Bond Deal of the Year: –Enbridge Southern Lights, U.S. / Canada North American PPP Deal of the Year: –Waterloo LRT, Canada North American Transport Deal of the Year: –I-4 Ultimate Project, United States North American Oil & Gas Deal of the Year: –Freeport LNG, United States

19. Project Finance & Infrastructure (cont’d) Tap into a fully-integrated platform for infrastructure clients. 18 1 Greenwich Associates 2014-2015 Canadian Investment Banking Study. 2 Brendan Wood International Investment & Corporate Banking World Watch (12 months ending June 30, 2015). CONFIDENTIAL We have a demonstrated capability in structuring, negotiating and achieving financial close on transactions with all-bond, all-bank and hybrid financings We have experience in running full funding competitions as a financial advisor involving a wide variety of funders We are a leader in infrastructure bonds, having underwritten or agented bonds for P3 projects, airport authorities, port authorities, power generators, distribution utilities, universities, school boards and others −Significant experience working with first time and infrequent issuers across a variety of sectors Bring a significant appetite for project finance lending −Support transactions at the Mandated Lead Arranger level, and willing to be a participant lender −Dedicated team of project finance professionals co-led or participated in over C$45 billion of non-recourse financings for conventional and renewable power projects and acquisition and P3 financings since 2009 Also provide access to interest rate, commodity and currency hedging products CIBC Capital Markets is a Greenwich Share Leader in Canadian Investment Banking Market Penetration 1 #2 for M&A Market Share 2

20. Real Estate Access a full suite of real estate corporate finance and brokerage solutions. 19 1 Brendan Wood International Investment & Corporate Banking World Watch (12 months ending December 31, 2015). CONFIDENTIAL We work closely with: −Public real estate investment trusts −Real estate operating companies −Large private and institutional owners of real estate assets In Canada, our Real Estate Investment Banking Group’s expertise encompasses all real estate property types and we are equipped to address a wide set of needs We also provide highly-customized financing solutions Our U.S. Real Estate Finance Group also provides expertise in financing all property types −We are one of the most active direct lenders and principal underwriters of commercial real estate loans in the U.S. market Canadian Real Estate: Advising on public and private M&A transactions Providing property brokerage services in connection with large single-asset and portfolio transactions Advising and managing initial public offerings Managing public equity and debt issuances Providing bridge, construction, revolving and permanent lending solutions #1 in Real Estate/REITS market share, #1 in Real Estate/REIT for share of top ranked bankers, and and#1 in Real Estate/REIT brand 1

21. Technology, Media & Telecom (TMT) Count on a banking team that thoroughly understands the fast-growing and ever-changing TMT landscape. 20 1 2015 StarMine Analyst Awards for Canada. 2 Brendan Wood International Investment & Corporate Banking World Watch (12 months ending June 30, 2015). CONFIDENTIAL We provide leading underwriting of equity offerings and superior financial advisory services to growing TMT companies We are active in the private debt market and have significant experience executing high-quality private placement transactions Software, communications equipment, semiconductors, Internet and IT services companies rely on our full range of investment banking, capital market and corporate banking capabilities We also assist media companies in radio and television broadcasting, newspaper and magazine publishing, business information services, digital media and more Our telecom experts work with a range of companies that need: −M&A advisory −Debt and equity underwriting −Private placements −Corporate lending −High-yield financing and asset securitization services Todd Coupland, ranked #1 as top earnings estimator in IT Equipment 1 Tied 1 st for TMT brand 2