On March 1, 2024, Canadian Imperial Bank of Commerce announced that it has received shareholder proposals from Shareholders' Education and Defense Movement, (1) that the Company?s annual meetings be held in person, and that virtual meetings be added as a complement to, but not replace, in-person meetings, (2) that the Bank disclose annually, to the general public, non-confidential information relating to its country-by-country reporting, in order to allow for the detailed and meaningful calculation of compensation ratios, particularly by jurisdiction, and to contribute to the fight against tax havens, particularly in terms of transparency, and (3) that the Bank hold an annual advisory vote on its environmental and climate objectives and action plan, urging the shareholders to vote against the proposal at the annual meeting of shareholders scheduled to be held on April 4, 2024. The Company also added that Shareholders' Education and Defense Movement has withdrawn 5 shareholder proposals after discussion with the Company. The proposals: (1) that the Board of Directors consider the advisability of introducing a new approach to incentive compensation, with the aim of linking part of the compensation of all employees to the organization?s performance against its key ESG targets, (2) that the language fluency of the executives be disclosed in the proxy circular, (3) that the Board of Directors consider the creation of a social contribution whereby a certain percentage of the Company?s profits would be allocated to support ESG causes, in particular the environment and inequality, (4) that the Board of Directors commit to filing, within the next 3 years, an ESG report with reasonable certification, rather than with a limited certification or no certification at all, (5) that the Board of Directors engage other auditors, depending on the term of the current contracts, given the number of shareholders who abstained from voting on this matter at the last annual meeting.