CIBC Asset Management Inc. announces portfolio sub-advisory changes and risk rating updates to certain funds

TORONTO, Aug. 28, 2023

Effective on or about September 30, 2023, portfolio management responsibilities for the following funds will be assumed or reallocated to the portfolio advisor and/or portfolio sub-advisors as follows:

Fund	Portfolio Management Responsibilities
Imperial U.S. Equity Pool	CIBC Private Wealth Advisors, Inc. J.P. Morgan Asset Management ARIVA.DE Börsen-Geflüster Kurse Canadian Imperial Bank of Commerce 43,94 € -0,32% CIBC Asset Management Inc.
CIBC U.S. Equity Private Pool	CIBC Private Wealth Advisors, Inc. J.P. Morgan Asset Management CIBC Asset Management Inc.
Renaissance U.S. Equity Value Fund	J.P. Morgan Asset Management

The changes will be reflected in the renewal of the Renaissance Investments family of funds, Axiom Portfolios, CIBC Private Pools, CIBC Fixed Income Pools, CIBC Fixed Income Funds and CIBC Alternative Mutual Funds Simplified Prospectus, effective on or about August 28, 2023.

The new risk ratings were determined in accordance with the standardized risk classification methodology mandated by the Canadian Securities Administrators. No changes have been made to the investment objectives, investment strategies or management of the affected mutual funds. CAM reviews the risk rating for each fund at least annually, and makes adjustments whenever the existing investment risk level is no longer appropriate.

CIBC is a leading North American financial institution with 13 million personal banking, business, public sector and institutional clients. Across Personal and Business Banking, Commercial Banking and Wealth Management, and Capital Markets businesses, CIBC offers a full range of advice, solutions and services through its leading digital banking network and locations across Canada, with offices in the United States and around the world. Ongoing news releases and more information about CIBC can be found at

www.cibc.com/ca/media-centre.

CIBC Asset Management, Inc. (CAM), the asset management subsidiary of CIBC, provides a range of high-quality investment management services and solutions to retail and institutional investors. CAM's offerings include: a comprehensive platform of mutual funds, strategic managed portfolio solutions, discretionary investment management services for high-net-worth individuals, and institutional portfolio management. CAM is one of Canada's largest asset management firms, with over $170 billion in assets under administration as of July 2023.

SOURCE CIBC