Company Announcements

Q3/25

Q3/24

Q2/25

YoY

Variance

QoQ
Variance

Revenue

$7,254 million

$6,604 million

$7,022 million

+10 %

+3 %

Reported Net Income

$2,096 million

$1,795 million

$2,007 million

+17 %

+4 %

Adjusted Net Income ⁽¹⁾

$2,104 million

$1,895 million

$2,016 million

+11 %

+4 %

Adjusted pre-provision, pre-tax earnings ⁽¹⁾

$3,289 million

$2,939 million

$3,214 million

+12 %

+2 %

Reported Diluted Earnings Per Share (EPS)

$2.15

$1.82

$2.04

+18 %

+5 %

Adjusted Diluted EPS ⁽¹⁾

$2.16

$1.93

$2.05

+12 %

+5 %

Reported Return on Common Shareholders' Equity (ROE) ⁽²⁾

14.2 %

13.2 %

13.8 %

Adjusted ROE ⁽¹⁾

14.2 %

14.0 %

13.9 %

Net interest margin on average interest-earnings assets ⁽²⁾⁽³⁾

1.58 %

1.50 %

1.54 %

Net interest margin on average interest-earnings assets (excluding trading) ⁽²⁾⁽³⁾

1.94 %

1.84 %

1.88 %

Common Equity Tier 1 (CET1) Ratio ⁽⁴⁾

13.4 %

13.3 %

13.4 %

(1)

This measure is a non-GAAP measure. For additional information, see the "Non-GAAP measures" section, including the quantitative reconciliations of reported GAAP measures to: adjusted non-interest expenses and adjusted net income on pages 3 to 7; and adjusted pre-provision, pre-tax earnings on page 8.

(2)

Certain additional disclosures for these specified financial measures have been incorporated by reference and can be found in the "Glossary" section of our Report to Shareholders for the third quarter of 2025 available on SEDAR+ at www.sedarplus.com.

(3)

Average balances are calculated as a weighted average of daily closing balances.

(4)

Our capital ratios are calculated pursuant to the Office of the Superintendent of Financial Institution's (OSFI's) Capital Adequacy Requirements (CAR) Guideline and the leverage ratio is calculated pursuant to OSFI's Leverage Requirements Guideline, all of which are based on the Basel Committee on Banking Supervision (BCBS) standards. For additional information, see the "Capital management" and "Liquidity risk" sections of our Report to Shareholders for the third quarter of 2025 available on SEDAR+ at www.sedarplus.com.

(5)

Certain prior period information has been restated for changes made to our business segments. For additional information, see the "External reporting changes" section of our Report to Shareholders for the third quarter of 2025, available on SEDAR+ at www.sedarplus.com.

(1)

Certain prior period information has been restated for changes made to our business segments. For additional information, see the "External reporting changes" section of our Report to Shareholders for the third quarter of 2025, available on SEDAR+ at www.sedarplus.com.

(2)

This measure is a non-GAAP measure. For additional information and a reconciliation of reported results to adjusted results, where applicable, see the "Non-GAAP measures" section.

Canadian

U.S.

Commercial

Canadian

Commercial

Commercial

Banking

Personal

Banking

Banking

and Wealth

and Business

and Wealth

and Wealth

Capital

Corporate

CIBC

Management

$ millions, for the three months ended July 31, 2025

Banking

Management

Management

Markets

and Other

Total

(US$ millions)

Operating results – reported

Total revenue

$

3,061

$

1,723

$

790

$

1,506

$

174

$

7,254

$

576

Provision for credit losses

444

21

17

76

1

559

14

Non-interest expenses

1,517

879

450

721

409

3,976

327

Income (loss) before income taxes

1,100

823

323

709

(236)

2,719

235

Income taxes

288

225

69

169

(128)

623

49

Net income (loss)

812

598

254

540

(108)

2,096

186

Net income attributable to non-controlling interests

-

-

-

-

2

2

-

Net income (loss) attributable to equity shareholders

812

598

254

540

(110)

2,094

186

Diluted EPS ($)

$

2.15

Impact of items of note ⁽¹⁾

Non-interest expenses

Amortization of acquisition-related intangible assets

$

(7)

$

-

$

(4)

$

-

$

-

$

(11)

$

(3)

Impact of items of note on non-interest expenses

(7)

-

(4)

-

-

(11)

(3)

Total pre-tax impact of items of note on net income

7

-

4

-

-

11

3

Income taxes

Amortization of acquisition-related intangible assets

2

-

1

-

-

3

1

Impact of items of note on income taxes

2

-

1

-

-

3

1

Total after-tax impact of items of note on net income

$

5

$

-

$

3

$

-

$

-

$

8

$

2

Impact of items of note on diluted EPS ($) ⁽²⁾

$

0.01

Operating results – adjusted ⁽³⁾

Total revenue – adjusted ⁽⁴⁾

$

3,061

$

1,723

$

790

$

1,506

$

174

$

7,254

$

576

Provision for credit losses – adjusted

444

21

17

76

1

559

14

Non-interest expenses – adjusted

1,510

879

446

721

409

3,965

324

Income (loss) before income taxes – adjusted

1,107

823

327

709

(236)

2,730

238

Income taxes – adjusted

290

225

70

169

(128)

626

50

Net income (loss) – adjusted

817

598

257

540

(108)

2,104

188

Net income attributable to non-controlling interests – adjusted

-

-

-

-

2

2

-

Net income (loss) attributable to equity shareholders – adjusted

817

598

257

540

(110)

2,102

188

Adjusted diluted EPS ($)

$

2.16

(1)

Items of note are removed from reported results to calculate adjusted results.

(2)

Includes the impact of rounding differences between diluted EPS and adjusted diluted EPS.

(3)

Adjusted to exclude the impact of items of note. Adjusted measures are non-GAAP measures.

(4)

CIBC total results excludes a TEB adjustment of nil for the quarter ended July 31, 2025 (April 30, 2025: nil; July 31, 2024:
excludes a reversal of a TEB adjustment of $123 million) and nil for the nine months ended July 31, 2025 (July 31, 2024: excludes a TEB adjustment of $16 million).

(5)

Certain prior period information has been restated for changes made to our business segments. For additional information, see the
"External reporting changes" section of our Report to Shareholders for the third quarter of 2025, available on SEDAR+ at www.sedarplus.com.

(6)

This item of note reports the impact on consolidated income tax expense had a Federal tax proposal related to the denial of Canadian dividends been substantively
enacted at that time. The corresponding impact on revenue reported on a TEB in Capital Markets and Corporate and Other is also included in this item of note
with no impact on the consolidated item of note.

U.S.

Canadian

U.S.

Commercial

Canadian

Commercial

Commercial

Banking

Personal

Banking

Banking

and Wealth

and Business

and Wealth

and Wealth

Capital

Corporate

CIBC

Management

$ millions, for the three months ended April 30, 2025

Banking

Management

Management

Markets

and Other

Total

(US$ millions)

Operating results – reported

Total revenue

$

2,859

$

1,640

$

769

$

1,545

$

209

$

7,022

$

541

Provision for credit losses

389

54

123

34

5

605

86

Non-interest expenses

1,478

833

441

719

348

3,819

310

Income (loss) before income taxes

992

753

205

792

(144)

2,598

145

Income taxes

258

204

32

226

(129)

591

23

Net income (loss)

734

549

173

566

(15)

2,007

122

Net income attributable to non-controlling interests

-

-

-

-

9

9

-

Net income (loss) attributable to equity shareholders

734

549

173

566

(24)

1,998

122

Diluted EPS ($)

$

2.04

Impact of items of note ⁽¹⁾

Non-interest expenses

Amortization of acquisition-related intangible assets

$

(6)

$

-

$

(5)

$

-

$

-

$

(11)

$

(3)

Impact of items of note on non-interest expenses

(6)

-

(5)

-

-

(11)

(3)

Total pre-tax impact of items of note on net income

6

-

5

-

-

11

3

Income taxes

Amortization of acquisition-related intangible assets

1

-

1

-

-

2

-

Impact of items of note on income taxes

1

-

1

-

-

2

-

Total after-tax impact of items of note on net income

$

5

$

-

$

4

$

-

$

-

$

9

$

3

Impact of items of note on diluted EPS ($) ⁽²⁾

$

0.01

Operating results – adjusted ⁽³⁾

Total revenue – adjusted ⁽⁴⁾

$

2,859

$

1,640

$

769

$

1,545

$

209

$

7,022

$

541

Provision for credit losses – adjusted

389

54

123

34

5

605

86

Non-interest expenses – adjusted

1,472

833

436

719

348

3,808

307

Income (loss) before income taxes – adjusted

998

753

210

792

(144)

2,609

148

Income taxes – adjusted

259

204

33

226

(129)

593

23

Net income (loss) – adjusted

739

549

177

566

(15)

2,016

125

Net income attributable to non-controlling interests – adjusted

-

-

-

-

9

9

-

Net income (loss) attributable to equity shareholders – adjusted

739

549

177

566

(24)

2,007

125

Adjusted diluted EPS ($)

$

2.05

See previous page for footnote references.

U.S.

Canadian

U.S.

Commercial

Canadian

Commercial

Commercial

Banking

Personal

Banking

Banking

and Wealth

and Business

and Wealth

and Wealth

Capital

Corporate

CIBC

Management

$ millions, for the three months ended July 31, 2024 ⁽⁵⁾

Banking

Management

Management

Markets

and Other

Total

(US$ millions)

Operating results – reported

Total revenue

$

2,775

$

1,523

$

731

$

1,092

$

483

$

6,604

$

534

Provision for credit losses

342

42

47

41

11

483

33

Non-interest expenses

1,472

793

420

651

346

3,682

307

Income before income taxes

961

688

264

400

126

2,439

194

Income taxes

268

187

48

111

30

644

35

Net income

693

501

216

289

96

1,795

159

Net income attributable to non-controlling interests

-

-

-

-

9

9

-

Net income attributable to equity shareholders

693

501

216

289

87

1,786

159

Diluted EPS ($)

$

1.82

Impact of items of note ⁽¹⁾

Revenue

Adjustments related to the denial of dividends received deduction for

   Canadian banks ⁽⁶⁾

$

-

$

-

$

-

$

123

$

(123)

$

-

$

-

Impact of items of note on revenue

-

-

-

123

(123)

-

-

Non-interest expenses

Amortization of acquisition-related intangible assets

(7)

-

(8)

-

-

(15)

(6)

Charge related to the special assessment imposed by the FDIC

-

-

(2)

-

-

(2)

(2)

Impact of items of note on non-interest expenses

(7)

-

(10)

-

-

(17)

(8)

Total pre-tax impact of items of note on net income

7

-

10

123

(123)

17

8

Income taxes

Amortization of acquisition-related intangible assets

2

-

2

-

-

4

2

Adjustments related to the denial of dividends received deduction for

   Canadian banks ⁽⁶⁾

-

-

-

35

(123)

(88)

-

Charge related to the special assessment imposed by the FDIC

-

-

1

-

-

1

1

Impact of items of note on income taxes

2

-

3

35

(123)

(83)

3

Total after-tax impact of items of note on net income

$

5

$

-

$

7

$

88

$

-

$

100

$

5

Impact of items of note on diluted EPS ($) ⁽²⁾

$

0.11

Operating results – adjusted ⁽³⁾

Total revenue – adjusted ⁽⁴⁾

$

2,775

$

1,523

$

731

$

1,215

$

360

$

6,604

$

534

Provision for credit losses – adjusted

342

42

47

41

11

483

33

Non-interest expenses – adjusted

1,465

793

410

651

346

3,665

299

Income before income taxes – adjusted

968

688

274

523

3

2,456

202

Income taxes – adjusted

270

187

51

146

(93)

561

38

Net income – adjusted

698

501

223

377

96

1,895

164

Net income attributable to non-controlling interests – adjusted

-

-

-

-

9

9

-

Net income attributable to equity shareholders – adjusted

698

501

223

377

87

1,886

164

Adjusted diluted EPS ($)

$

1.93

See previous pages for footnote references.

U.S.

Canadian

U.S.

Commercial

Canadian

Commercial

Commercial

Banking

Personal

Banking

Banking

and Wealth

and Business

and Wealth

and Wealth

Capital

Corporate

CIBC

Management

$ millions, for the nine months ended July 31, 2025

Banking

Management

Management

Markets

and Other

Total

(US$ millions)

Operating results – reported

Total revenue

$

8,843

$

5,066

$

2,406

$

4,625

$

617

$

21,557

$

1,709

Provision for credit losses

1,261

114

208

131

23

1,737

148

Non-interest expenses

4,455

2,565

1,361

2,145

1,147

11,673

966

Income (loss) before income taxes

3,127

2,387

837

2,349

(553)

8,147

595

Income taxes

816

649

154

624

(370)

1,873

109

Net income (loss)

2,311

1,738

683

1,725

(183)

6,274

486

Net income attributable to non-controlling interests

-

-

-

-

19

19

-

Net income (loss) attributable to equity shareholders

2,311

1,738

683

1,725

(202)

6,255

486

Diluted EPS ($)

$

6.37

Impact of items of note ⁽¹⁾

Non-interest expenses

Amortization of acquisition-related intangible assets

$

(20)

$

-

$

(14)

$

-

$

-

$

(34)

$

(10)

Impact of items of note on non-interest expenses

(20)

-

(14)

-

-

(34)

(10)

Total pre-tax impact of items of note on net income

20

-

14

-

-

34

10

Income taxes

Amortization of acquisition-related intangible assets

5

-

4

-

-

9

3

Impact of items of note on income taxes

5

-

4

-

-

9

3

Total after-tax impact of items of note on net income

$

15

$

-

$

10

$

-

$

-

$

25

$

7

Impact of items of note on diluted EPS ($) ⁽²⁾

$

0.03

Operating results – adjusted ⁽³⁾

Total revenue – adjusted ⁽⁴⁾

$

8,843

$

5,066

$

2,406

$

4,625

$

617

$

21,557

$

1,709

Provision for credit losses – adjusted

1,261

114

208

131

23

1,737

148

Non-interest expenses – adjusted

4,435

2,565

1,347

2,145

1,147

11,639

956

Income (loss) before income taxes – adjusted

3,147

2,387

851

2,349

(553)

8,181

605

Income taxes – adjusted

821

649

158

624

(370)

1,882

112

Net income (loss) – adjusted

2,326

1,738

693

1,725

(183)

6,299

493

Net income attributable to non-controlling interests – adjusted

-

-

-

-

19

19

-

Net income (loss) attributable to equity shareholders – adjusted

2,326

1,738

693

1,725

(202)

6,280

493

Adjusted diluted EPS ($)

$

6.40

See previous pages for footnote references.

U.S.

Canadian

U.S.

Commercial

Canadian

Commercial

Commercial

Banking

Personal

Banking

Banking

and Wealth

and Business

and Wealth

and Wealth

Capital

Corporate

CIBC

Management

$ millions, for the nine months ended July 31, 2024 ⁽⁵⁾

Banking

Management

Management

Markets

and Other

Total

(US$ millions)

Operating results – reported

Total revenue

$

8,100

$

4,416

$

2,087

$

3,645

$

741

$

18,989

$

1,536

Provision for credit losses

953

99

477

53

-

1,582

351

Non-interest expenses

4,243

2,243

1,303

1,827

1,032

10,648

959

Income (loss) before income taxes

2,904

2,074

307

1,765

(291)

6,759

226

Income taxes

791

562

7

482

(355)

1,487

5

Net income

2,113

1,512

300

1,283

64

5,272

221

Net income attributable to non-controlling interests

-

-

-

-

31

31

-

Net income attributable to equity shareholders

2,113

1,512

300

1,283

33

5,241

221

Diluted EPS ($)

$

5.38

Impact of items of note ⁽¹⁾