AI assistant
Core Silver Corp. — Capital/Financing Update 2026
Apr 17, 2026
47848_rns_2026-04-17_a69c7f22-242e-4fb0-b81e-cdd92236f839.pdf
Capital/Financing Update
Open in viewerOpens in your device viewer
This prospectus supplement (this "Prospectus Supplement"), together with the short form base shelf prospectus dated September 10, 2025 (the "Base Prospectus") and each document incorporated by reference herein or therein for the purposes of the distribution of securities to which this Prospectus Supplement pertains (collectively, this "Prospectus") constitutes a public offering of these securities only in those jurisdictions where they may be lawfully offered for sale and therein only by persons permitted to sell such securities. No securities regulatory authority has expressed an opinion about these securities and it is an offence to claim otherwise.
Information has been incorporated by reference in the Base Prospectus and this Prospectus Supplement from documents filed with securities commissions or similar authorities in Canada. Copies of the documents incorporated herein by reference may be obtained on request without charge from Investor Relations, Canadian Imperial Bank of Commerce, 81 Bay Street, CIBC Square, Toronto, Ontario, Canada, M5J 0E7, telephone (416) 980-3096, and are also available electronically at www.sedarplus.ca.
These securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "1933 Act"), and may not be offered, sold or delivered within the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the 1933 Act).
U.S. CDR Prospectus Supplement No. 3 to the Base Shelf Prospectus dated September 10, 2025
New Issue and Continuous Offering
April 17, 2026
CIBC
Canadian Imperial Bank of Commerce (a Canadian chartered bank)
Canadian Depositary Receipts in respect of the following Underlying Shares:
- Amphenol Corporation Class A Common Stock (NYSE: APH)
- CoreWeave, Inc. Class A Common Stock (NASDAQ: CRWV)
- D.R. Horton, Inc. Common Stock (NYSE: DHI)
- Freeport-McMoRan Inc. Common Stock (NYSE: FCX)
- Intuit Inc. Common Stock (NASDAQ: INTU)
- KLA Corporation Common Stock (NASDAQ: KLAC)
- Lam Research Corporation Common Stock (NASDAQ: LRCX)
- Marvell Technology, Inc. Common Stock (NASDAQ: MRVL)
- Northrop Grumman Corporation Common Stock (NYSE: NOC)
- Quanta Services, Inc. Common Stock (NYSE: PWR)
- Sandisk Corporation Common Stock (NASDAQ: SNDK)
- Stryker Corporation Common Stock (NYSE: SYK)
- T-Mobile US, Inc. Common Stock (NASDAQ: TMUS)
- Vertiv Holdings Co Class A Common Stock (NYSE: VRT)
- Western Digital Corporation Common Stock (NASDAQ: WDC)
U.S. CDR Prospectus Supplement No. 3 | 1
This Prospectus Supplement together with the Base Prospectus qualifies the distribution of CDRs issued by Canadian Imperial Bank of Commerce ("CIBC") in the following series (each an "Offered Series") in respect of the corresponding Underlying Shares indicated above (each such Underlying Share being referred to herein by the corresponding term set out under "Underlying Shares" in the table below).
| Full Name of Offered Series | Short Name of Offered Series | Underlying Shares |
|---|---|---|
| Amphenol Canadian Depositary Receipts (CAD Hedged) | “Amphenol CDRs” | “Amphenol Underlying Shares” |
| CoreWeave Canadian Depositary Receipts (CAD Hedged) | “CoreWeave CDRs” | “CoreWeave Underlying Shares” |
| D.R. Horton Canadian Depositary Receipts (CAD Hedged) | “D.R. Horton CDRs” | “D.R. Horton Underlying Shares” |
| Freeport-McMoRan Canadian Depositary Receipts (CAD Hedged) | “Freeport-McMoRan CDRs” | “Freeport-McMoRan Underlying Shares” |
| Intuit Canadian Depositary Receipts (CAD Hedged) | “Intuit CDRs” | “Intuit Underlying Shares” |
| KLA Canadian Depositary Receipts (CAD Hedged) | “KLA CDRs” | “KLA Underlying Shares” |
| Lam Research Canadian Depositary Receipts (CAD Hedged) | “Lam Research CDRs” | “Lam Research Underlying Shares” |
| Marvell Technology Canadian Depositary Receipts (CAD Hedged) | “Marvell Technology CDRs” | “Marvell Technology Underlying Shares” |
| Northrop Grumman Canadian Depositary Receipts (CAD Hedged) | “Northrop Grumman CDRs” | “Northrop Grumman Underlying Shares” |
| Quanta Services Canadian Depositary Receipts (CAD Hedged) | “Quanta Services CDRs” | “Quanta Services Underlying Shares” |
| Sandisk Canadian Depositary Receipts (CAD Hedged) | “Sandisk CDRs” | “Sandisk Underlying Shares” |
| Stryker Canadian Depositary Receipts (CAD Hedged) | “Stryker CDRs” | “Stryker Underlying Shares” |
| T-Mobile Canadian Depositary Receipts (CAD Hedged) | “T-Mobile CDRs” | “T-Mobile Underlying Shares” |
| Vertiv Canadian Depositary Receipts (CAD Hedged) | “Vertiv CDRs” | “Vertiv Underlying Shares” |
| Western Digital Canadian Depositary Receipts (CAD Hedged) | “Western Digital CDRs” | “Western Digital Underlying Shares” |
Toronto Stock Exchange (the "TSX") has conditionally approved the listing of each Offered Series of CDRs. Listing is subject to CIBC fulfilling all of the requirements of the TSX on or before July 17, 2026. See "Risk Factors — No Guarantee of an Active Market for the CDRs" in the Base Prospectus.
This Prospectus Supplement does not apply to and shall be disregarded in respect of all Series of CDRs other than the Offered Series of CDRs.
The Offered Series of CDRs are designated as members of the class of "U.S. CDRs" and this Prospectus Supplement is referred to as the "U.S. CDR Prospectus Supplement No. 3".
Each Offered Series of CDRs may be offered on a continuous basis and there is no minimum or maximum number of CDRs (in the aggregate or with respect to any particular Series) that may be offered. See "Description of the CDRs —
U.S. CDR Prospectus Supplement No. 3
Acquisition of CDRs" in the Base Prospectus and "Plan of Distribution" herein. The offering is subject to approval of certain legal matters on behalf of CIBC by Blake, Cassels & Graydon LLP and/or Torys LLP.
Investment in CDRs involves certain risks that should be considered by a prospective purchaser. See "Risk Factors" in the Base Prospectus along with the risk factors described herein and in any document incorporated by reference.
One or more Dealers may from time to time distribute newly issued CDRs qualified by this Prospectus Supplement to investors pursuant to open market transactions, including sale transactions on the TSX. Dealers may subscribe for newly issued CDRs directly from CIBC for this purpose as described in the Prospectus. The sole dealer that is affiliated with CIBC that will be distributing CDRs under this Prospectus is CIBC World Markets Inc. ("CIBC WMI"). CIBC WMI is a wholly-owned subsidiary of CIBC. By virtue of such ownership, CIBC is a "related issuer" and a "connected issuer" of CIBC WMI within the meaning of applicable securities legislation. See "Plan of Distribution — Relationship between CIBC and Dealers" herein.
No underwriter has been involved in the preparation of this Prospectus or performed any review of the contents of this Prospectus.
The rights of investors relying on this Prospectus in respect of newly issued CDRs differ from those of investors in other newly issued securities. See "Notice Regarding Non-Standard Securityholder Rights" in the Base Prospectus.
No United States person within the meaning of Section 7701(a)(30) of the U.S. Internal Revenue Code (a "U.S. Person") may be a Holder of CDRs of any Offered Series or enter into any transaction for the purchase or acquisition of CDRs of any Offered Series. See "Description of the CDRs — Prohibition of Purchases of CDRs by U.S. Persons" in the Base Prospectus.
U.S. CDR Prospectus Supplement No. 3 | 3
Table of Contents
About this Prospectus Supplement ... 5
The Offered CDRs ... 6
The Underlying Shares ... 8
The Amphenol Underlying Shares ... 9
The CoreWeave Underlying Shares ... 10
The D.R. Horton Underlying Shares ... 12
The Freeport-McMoRan Underlying Shares ... 13
The Intuit Underlying Shares ... 14
The KLA Underlying Shares ... 15
The Lam Research Underlying Shares ... 16
The Marvell Technology Underlying Shares ... 17
The Northrop Grumman Underlying Shares ... 18
The Quanta Services Underlying Shares ... 19
The Sandisk Underlying Shares ... 20
The Stryker Underlying Shares ... 21
The T-Mobile Underlying Shares ... 22
The Vertiv Underlying Shares ... 23
The Western Digital Underlying Shares ... 24
Plan of Distribution ... 25
Relationship Between CIBC and Dealers ... 25
Appendix A ... A-1
Additional Information ... A-1
U.S. CDR Prospectus Supplement No. 3 | 4
About this Prospectus Supplement
This Prospectus Supplement together with the Base Prospectus qualifies the distribution of an unlimited number of CDRs of each Series offered pursuant to this Prospectus Supplement. If the information in this Prospectus Supplement differs from the information contained in the Base Prospectus, you should rely on the information in this Prospectus Supplement. You should read both this Prospectus Supplement and the Base Prospectus carefully to understand fully the terms of the CDRs of each Offered Series and other considerations that are important to your investment decision. The information in this Prospectus Supplement and the accompanying Base Prospectus is current only as of the respective dates of each such document.
In this Prospectus Supplement, unless otherwise specified, references to "CAD", "dollars" and "$" are to Canadian dollars and references to "USD" and "US$" are to U.S. dollars.
Capitalized terms used in this Prospectus Supplement that are not otherwise defined have the meanings ascribed to them in the Base Prospectus.
See "Appendix A — Additional Information" for additional information relating to CIBC, the Prospectus and any relevant marketing materials.
U.S. CDR Prospectus Supplement No. 3 | 5
The Offered CDRs
The CDRs of the Offered Series are U.S. CDRs, as such term is defined in the Base Prospectus. The Underlying Currency for each Offered Series of CDRs is the U.S. dollar.
The following table provides specific information on each Offered Series of CDRs, including the ticker symbols assigned by the TSX to each such Offered Series of CDRs, the corporate names of the issuers of the related Underlying Shares (the "Underlying Issuers"), the Primary Trading Market for the Underlying Shares, and the ticker symbol under which the Underlying Shares trade on such exchange. The information set out below is current as at the date of this Prospectus Supplement.
| Short Name of Offered Series | CDR Ticker Symbol | Underlying Issuer and Website | Details of Underlying Shares | Initial CDR Ratio |
|---|---|---|---|---|
| Amphenol CDRs | TSX: APH | Amphenol Corporation (“Amphenol”) | ||
| investors.amphenol.com | Type: Class A Common Stock | |||
| Exchange: NYSE | ||||
| Ticker: APH | 0.1100 | |||
| CoreWeave CDRs | TSX: CRWV | CoreWeave, Inc. (“CoreWeave”) | ||
| investors.coreweave.com | Type: Class A Common Stock | |||
| Exchange: NASDAQ | ||||
| Ticker: CRWV | 0.1400 | |||
| D.R. Horton CDRs | TSX: DHI | D.R. Horton, Inc. (“D.R. Horton”) | ||
| investor.drhorton.com | Type: Common Stock | |||
| Exchange: NYSE | ||||
| Ticker: DHI | 0.1200 | |||
| Freeport-McMoRan CDRs | TSX: FCXS | Freeport-McMoRan Inc. (“Freeport-McMoRan”) | ||
| investors.fcx.com | Type: Common Stock | |||
| Exchange: NYSE | ||||
| Ticker: FCX | 0.2500 | |||
| Intuit CDRs | TSX: INTU | Intuit Inc. (“Intuit”) | ||
| investors.intuit.com | Type: Common Stock | |||
| Exchange: NASDAQ | ||||
| Ticker: INTU | 0.0450 | |||
| KLA CDRs | TSX: KLAC | KLA Corporation (“KLA”) | ||
| ir.kla.com | Type: Common Stock | |||
| Exchange: NASDAQ | ||||
| Ticker: KLAC | 0.0100 | |||
| Lam Research CDRs | TSX: LRCX | Lam Research Corporation (“Lam Research”) | ||
| investor.lamresearch.com | Type: Common Stock | |||
| Exchange: NASDAQ | ||||
| Ticker: LRCX | 0.0650 | |||
| Marvell Technology CDRs | TSX: MRV | Marvell Technology, Inc. (“Marvell Technology”) | ||
| investor.marvell.com | Type: Common Stock | |||
| Exchange: NASDAQ | ||||
| Ticker: MRVL | 0.1200 | |||
| Northrop Grumman CDRs | TSX: NOC | Northrop Grumman Corporation (“Northrop Grumman”) | ||
| investor.northropgrumman.com | Type: Common Stock | |||
| Exchange: NYSE | ||||
| Ticker: NOC | 0.0250 | |||
| Quanta Services CDRs | TSX: PWRS | Quanta Services, Inc. (“Quanta Services”) | ||
| investors.quantaservices.com | Type: Common Stock | |||
| Exchange: NYSE | ||||
| Ticker: PWR | 0.0280 |
U.S. CDR Prospectus Supplement No. 3
| Short Name of Offered Series | CDR Ticker Symbol | Underlying Issuer and Website | Details of Underlying Shares | Initial CDR Ratio |
|---|---|---|---|---|
| Sandisk CDRs | TSX: SNDK | Sandisk Corporation (“Sandisk”) | ||
| investor.sandisk.com | Type: Common Stock | |||
| Exchange: NASDAQ | ||||
| Ticker: SNDK | 0.0180 | |||
| Stryker CDRs | TSX: SYK | Stryker Corporation (“Stryker”) | ||
| investors.stryker.com | Type: Common Stock | |||
| Exchange: NYSE | ||||
| Ticker: SYK | 0.0500 | |||
| T-Mobile CDRs | TSX: TMUS | T-Mobile US, Inc. (“T-Mobile”) | ||
| investor.t-mobile.com | Type: Common Stock | |||
| Exchange: NASDAQ | ||||
| Ticker: TMUS | 0.0900 | |||
| Vertiv CDRs | TSX: VRT | Vertiv Holdings Co (“Vertiv”) | ||
| investors.vertiv.com | Type: Class A Common Stock | |||
| Exchange: NYSE | ||||
| Ticker: VRT | 0.0550 | |||
| Western Digital CDRs | TSX: WDC | Western Digital Corporation (“Western Digital”) | ||
| investor.wdc.com | Type: Common Stock | |||
| Exchange: NASDAQ | ||||
| Ticker: WDC | 0.0450 |
The initial CDR Ratio for each Offered Series of CDRs as at the date of first issuance of CDRs for each such Series is also indicated in the table above. For each Series of CDRs, one CDR represents an interest in the pool of Underlying Shares held for the relevant Series in the Custody Account for the Series pursuant to the terms of the Deposit Agreement. A subscriber for CDRs of a Series is required to deposit the number of Underlying Shares equal to 1,000 times the current CDR Ratio for the Series in order to receive 1,000 CDRs of such Series.
As described in the Base Prospectus, the CDR Ratio for each Offered Series of CDRs is automatically adjusted on the terms set out in the Deposit Agreement, the economic effect of which is to provide an embedded daily notional currency hedge into Canadian dollars of such Underlying Shares' market value in U.S. dollars. The CDR Ratio may also be adjusted periodically to reflect certain Specified Corporate Action Expenses for which CDR Holders are responsible under the terms of the Deposit Agreement. See "Description of the CDRs — Overview" and "Description of the CDRs — Fees and Expenses" in the Base Prospectus.
No Series-specific amendments have been made to the Deposit Agreement in respect of any Series of CDRs offered pursuant to this Prospectus Supplement.
U.S. CDR Prospectus Supplement No. 3
The Underlying Shares
All information contained in this Prospectus Supplement with respect to the Underlying Shares and the Underlying Issuers ("Underlying Issuer Information") is presented in summary form and was obtained from public sources that CIBC believes to be reliable, including filings made with securities regulators issued by the applicable Underlying Issuer. In particular, the descriptions of the businesses of the Underlying Issuers are based on descriptions from the Underlying Issuers' filings made with the U.S. Securities and Exchange Commission (the "U.S. SEC") and/or Underlying Issuers' websites as of the date of this Prospectus Supplement. CIBC and its affiliates and associates have not independently verified the accuracy or completeness of any Underlying Issuer Information, make no representation and take no responsibility regarding the accuracy or completeness of such information and will not update such information in the event of any change in respect of any Underlying Issuer Information, Underlying Shares or Underlying Issuer including any material change. Prospective investors should independently investigate the applicable Underlying Issuer and Underlying Shares in respect of any investment in CDRs of a Series as part of the process to decide whether an investment in the CDRs of any of the Offered Series is appropriate.
This Prospectus Supplement relates only to the CDRs offered hereby and does not relate to any of the Underlying Shares or other securities of the Underlying Issuers. None of the Offered Series of CDRs is in any way sponsored, endorsed, sold or promoted by the applicable Underlying Issuer. The Underlying Issuers are not responsible for and have not participated in the determination of the structuring, timing, pricing or number of CDRs of the Offered Series to be issued. Furthermore, the Underlying Issuers have not participated in the preparation of this Prospectus Supplement, do not take any responsibility or assume any liability with respect to the accuracy or completeness of any information contained herein and make no representation regarding the advisability of purchasing the CDRs. The Underlying Issuers have no obligation or liability in connection with the administration, marketing or trading of the Offered Series of CDRs. Investing in an Offered Series of CDRs is not equivalent to investing in the applicable Underlying Shares.
Each of the Underlying Issuers is registered with the U.S. SEC and is required to periodically file certain financial and other information specified by securities legislation. Such information can be accessed through EDGAR, a filing system developed for the U.S. SEC that provides access to most public securities documents and information filed by public companies with the U.S. SEC.
The issuance of each Offered Series of CDRs hereunder is not a financing for the benefit of the Underlying Issuers or any insiders of the Underlying Issuers, nor will the Underlying Issuers receive any proceeds from the offering and sale of each Offered Series of CDRs.
The decision to offer each Offered Series of CDRs pursuant to this Prospectus Supplement has been taken independently of any decisions by CIBC to purchase any securities of the Underlying Issuers in the primary or secondary market. Except with respect to any CDR market-making activities in which CIBC or its affiliates may engage in and/or in connection with trading of securities of the Underlying Issuers to hedge changes in CIBC's rights and obligations in connection with the CDRs as the holder of the Issuer Interest, any decision by CIBC to purchase any securities of the Underlying Issuers in the primary or the secondary market will have been taken independently of CIBC's decision to offer the related Offered Series of CDRs pursuant to this Prospectus Supplement. CIBC's employees involved in the structuring of and the decision to offer each Offered Series of CDRs pursuant to this Prospectus Supplement are not privy to any non-public information regarding either primary or secondary market purchases of any securities of the Underlying Issuers completed by CIBC in connection with any primary distribution of securities by any Underlying Issuers.
Set out below for each Offered Series of CDRs is summary information in respect of the Underlying Shares derived from publicly available sources and assumed to be reliable, although its accuracy cannot be guaranteed. For each Underlying Issuer, the description of the Underlying Issuer's business activities may include business activities conducted by or through some or all of the Underlying Issuer's subsidiaries. For each Underlying Issuer a dividend yield is indicated reflecting the amount of dividends paid on the Underlying Shares over the past 12 months expressed as a percentage of the closing price of the Underlying Shares as of the indicated date, as published by Bloomberg.
U.S. CDR Prospectus Supplement No. 3 | 8
The Amphenol Underlying Shares
Amphenol designs, manufactures and markets electrical, electronic and fiber optic connectors and interconnect systems, antennas, sensors and sensor-based products and coaxial, high-speed, fiber optic and specialty cable.
Information with respect to Amphenol and its business and operations can be accessed through Amphenol's profile page on the EDGAR website at www.sec.gov/edgar.shtml and on Amphenol's corporate website at investors.amphenol.com. All information in this Prospectus Supplement relating to the Amphenol Underlying Shares is presented in summary form and is derived from publicly available sources and assumed to be reliable, although its accuracy cannot be guaranteed. CIBC and its affiliates have not verified and make no representation and take no responsibility regarding the accuracy or completeness of such information or of any other information or disclosure issued or published by Amphenol.
The following table highlights certain information for the Amphenol Underlying Shares as of April 15, 2026:
Amphenol Underlying Shares Highlights
Market Capitalization: US$180.70 billion
Annual Dividend Yield: 0.65%
Closing Price: US$146.98 per share
52 Week Trading Range (Low - High): US$59.09 – US$166.25 per share
The Amphenol Underlying Shares are listed for trading on the NYSE under the symbol “APH”. The following table sets forth, for the periods indicated, the reported monthly range of high and low prices per Amphenol Underlying Share and total monthly volumes traded on the NYSE. Past performance of the Amphenol Underlying Shares is not indicative of future performance and should not be used to forecast any return that a CDR Holder may realize on the Amphenol CDRs.
| Month | Price per Underlying Share (US$) Monthly High | Price per Underlying Share (US$) Monthly Low | Total Monthly Volume |
|---|---|---|---|
| April 2025 | 76.95 | 59.09 | 202,382,386 |
| May 2025 | 89.93 | 78.63 | 161,936,507 |
| June 2025 | 98.75 | 90.36 | 184,602,959 |
| July 2025 | 106.70 | 97.39 | 193,723,436 |
| August 2025 | 111.94 | 104.31 | 147,916,861 |
| September 2025 | 125.40 | 109.25 | 209,866,637 |
| October 2025 | 139.75 | 121.70 | 177,948,727 |
| November 2025 | 143.85 | 130.36 | 157,856,512 |
| December 2025 | 141.49 | 126.51 | 158,313,816 |
| January 2026 | 166.25 | 136.25 | 228,365,440 |
| February 2026 | 152.64 | 127.63 | 186,684,853 |
| March 2026 | 136.80 | 119.15 | 224,761,630 |
| April 1-15, 2026 | 148.72 | 126.49 | 68,927,601 |
Source: Bloomberg.
U.S. CDR Prospectus Supplement No. 3 | 9
The CoreWeave Underlying Shares
CoreWeave operates a cloud platform that combines its software, infrastructure, and managed cloud services to deliver high-performance computing, which enables its customers to develop, deploy, and operate advanced artificial intelligence models and applications at scale.
Information with respect to CoreWeave and its business and operations can be accessed through CoreWeave's profile page on the EDGAR website at www.sec.gov/edgar.shtml and on CoreWeave's corporate website at investors.coreweave.com. All information in this Prospectus Supplement relating to the CoreWeave Underlying Shares is presented in summary form and is derived from publicly available sources and assumed to be reliable, although its accuracy cannot be guaranteed. CIBC and its affiliates have not verified and make no representation and take no responsibility regarding the accuracy or completeness of such information or of any other information or disclosure issued or published by CoreWeave.
CoreWeave Class B common stock has 10 votes per share, CoreWeave Class A common stock (NASDAQ: CRWV), which is the Underlying Share in respect of the CoreWeave CDRs, has one vote per share and CoreWeave Class C common stock has no votes per share. Accordingly, holders of CoreWeave CDRs will generally have fewer votes relative to holders of CoreWeave Class B common stock. Furthermore, CoreWeave's co-founders collectively hold all of the issued and outstanding shares of CoreWeave Class B common stock. Because of the ten-to-one voting ratio between CoreWeave Class B common stock and Class A common stock, the holders of CoreWeave Class B common stock collectively control a significant percentage of the combined voting power of CoreWeave common stock and therefore are able to significantly influence matters submitted to CoreWeave stockholders for approval. They may also have interests that differ from those of holders of CoreWeave CDRs and may vote in a way with which such CDR holders disagree, and which may be adverse to such CDR holders' interests.
U.S. CDR Prospectus Supplement No. 3 | 10
The following table highlights certain information for the CoreWeave Underlying Shares as of April 15, 2026:
CoreWeave Underlying Shares Highlights
Market Capitalization: US$63.75 billion
Annual Dividend Yield: N/A
Closing Price: US$118.69 per share
52 Week Trading Range (Low - High): US$35.42 – US$183.58 per share
The CoreWeave Underlying Shares are listed for trading on the NASDAQ under the symbol "CRWV". The following table sets forth, for the periods indicated, the reported monthly range of high and low prices per CoreWeave Underlying Share and total monthly volumes traded on the NASDAQ. Past performance of the CoreWeave Underlying Shares is not indicative of future performance and should not be used to forecast any return that a CDR Holder may realize on the CoreWeave CDRs.
| Month | Price per Underlying Share (US$) Monthly High | Price per Underlying Share (US$) Monthly Low | Total Monthly Volume |
|---|---|---|---|
| April 2025 | 61.36 | 35.42 | 278,877,600 |
| May 2025 | 123.97 | 44.32 | 533,722,703 |
| June 2025 | 183.58 | 120.20 | 535,511,998 |
| July 2025 | 165.20 | 102.89 | 262,449,290 |
| August 2025 | 148.75 | 90.79 | 559,253,479 |
| September 2025 | 136.85 | 87.48 | 710,753,025 |
| October 2025 | 143.08 | 121.53 | 562,558,986 |
| November 2025 | 126.32 | 69.21 | 628,837,054 |
| December 2025 | 90.66 | 64.55 | 621,369,768 |
| January 2026 | 108.86 | 76.86 | 599,817,781 |
| February 2026 | 99.30 | 74.65 | 490,223,829 |
| March 2026 | 87.58 | 69.15 | 495,083,833 |
| April 1-15, 2026 | 118.69 | 78.44 | 397,022,170 |
Source: Bloomberg.
U.S. CDR Prospectus Supplement No. 3 | 11
The D.R. Horton Underlying Shares
D.R. Horton is a homebuilding company that constructs and sells homes in the United States.
Information with respect to D.R. Horton and its business and operations can be accessed through D.R. Horton’s profile page on the EDGAR website at www.sec.gov/edgar.shtml and on D.R. Horton’s corporate website at investor.drhorton.com. All information in this Prospectus Supplement relating to the D.R. Horton Underlying Shares is presented in summary form and is derived from publicly available sources and assumed to be reliable, although its accuracy cannot be guaranteed. CIBC and its affiliates have not verified and make no representation and take no responsibility regarding the accuracy or completeness of such information or of any other information or disclosure issued or published by D.R. Horton.
The following table highlights certain information for the D.R. Horton Underlying Shares as of April 15, 2026:
D.R. Horton Underlying Shares Highlights
Market Capitalization: US$41.78 billion
Annual Dividend Yield: 1.24%
Closing Price: US$144.20 per share
52 Week Trading Range (Low - High): US$115.10 – US$184.04 per share
The D.R. Horton Underlying Shares are listed for trading on the NYSE under the symbol “DHI”. The following table sets forth, for the periods indicated, the reported monthly range of high and low prices per D.R. Horton Underlying Share and total monthly volumes traded on the NYSE. Past performance of the D.R. Horton Underlying Shares is not indicative of future performance and should not be used to forecast any return that a CDR Holder may realize on the D.R. Horton CDRs.
| Month | Price per Underlying Share (US$) Monthly High | Price per Underlying Share (US$) Monthly Low | Total Monthly Volume |
|---|---|---|---|
| April 2025 | 127.97 | 115.10 | 88,494,171 |
| May 2025 | 127.31 | 117.39 | 64,607,100 |
| June 2025 | 129.63 | 116.89 | 66,464,325 |
| July 2025 | 153.50 | 129.82 | 107,644,714 |
| August 2025 | 170.68 | 150.30 | 81,311,955 |
| September 2025 | 184.04 | 164.23 | 71,825,911 |
| October 2025 | 174.95 | 148.29 | 78,733,105 |
| November 2025 | 159.01 | 137.32 | 55,679,938 |
| December 2025 | 165.00 | 144.03 | 62,158,991 |
| January 2026 | 161.00 | 139.31 | 75,016,589 |
| February 2026 | 167.78 | 149.77 | 55,103,646 |
| March 2026 | 154.40 | 132.53 | 61,235,795 |
| April 1-15, 2026 | 145.25 | 137.07 | 25,149,646 |
Source: Bloomberg.
U.S. CDR Prospectus Supplement No. 3 | 12
The Freeport-McMoRan Underlying Shares
Freeport-McMoRan is an international metals company that operates geographically diverse assets with mineral reserves of copper, gold and molybdenum.
Information with respect to Freeport-McMoRan and its business and operations can be accessed through Freeport-McMoRan's profile page on the EDGAR website at www.sec.gov/edgar.shtml and on Freeport-McMoRan's corporate website at investors.fcx.com. All information in this Prospectus Supplement relating to the Freeport-McMoRan Underlying Shares is presented in summary form and is derived from publicly available sources and assumed to be reliable, although its accuracy cannot be guaranteed. CIBC and its affiliates have not verified and make no representation and take no responsibility regarding the accuracy or completeness of such information or of any other information or disclosure issued or published by Freeport-McMoRan.
The following table highlights certain information for the Freeport-McMoRan Underlying Shares as of April 15, 2026:
Freeport-McMoRan Underlying Shares Highlights
Market Capitalization: US$98.74 billion
Annual Dividend Yield: 0.88%
Closing Price: US$68.70 per share
52 Week Trading Range (Low - High): US$29.15 – US$68.82 per share
The Freeport-McMoRan Underlying Shares are listed for trading on the NYSE under the symbol "FCX". The following table sets forth, for the periods indicated, the reported monthly range of high and low prices per Freeport-McMoRan Underlying Share and total monthly volumes traded on the NYSE. Past performance of the Freeport-McMoRan Underlying Shares is not indicative of future performance and should not be used to forecast any return that a CDR Holder may realize on the Freeport-McMoRan CDRs.
| Month | Price per Underlying Share (US$) Monthly High | Price per Underlying Share (US$) Monthly Low | Total Monthly Volume |
|---|---|---|---|
| April 2025 | 38.20 | 29.15 | 469,384,582 |
| May 2025 | 39.64 | 36.41 | 234,335,937 |
| June 2025 | 44.46 | 40.15 | 230,210,911 |
| July 2025 | 47.21 | 39.14 | 445,851,331 |
| August 2025 | 44.40 | 39.86 | 218,760,797 |
| September 2025 | 46.66 | 35.34 | 515,073,177 |
| October 2025 | 43.31 | 38.87 | 399,927,117 |
| November 2025 | 42.98 | 38.65 | 285,548,000 |
| December 2025 | 53.04 | 42.97 | 328,865,611 |
| January 2026 | 65.13 | 51.93 | 497,182,416 |
| February 2026 | 68.82 | 59.22 | 353,232,821 |
| March 2026 | 68.29 | 52.09 | 423,638,221 |
| April 1-15, 2026 | 68.70 | 60.76 | 156,163,789 |
Source: Bloomberg.
U.S. CDR Prospectus Supplement No. 3 | 13
The Intuit Underlying Shares
Intuit operates a global financial technology platform that helps its customers manage their business by providing financial management, compliance, human capital management, and marketing products and services.
Information with respect to Intuit and its business and operations can be accessed through Intuit's profile page on the EDGAR website at www.sec.gov/edgar.shtml and on Intuit's corporate website at investors.intuit.com. All information in this Prospectus Supplement relating to the Intuit Underlying Shares is presented in summary form and is derived from publicly available sources and assumed to be reliable, although its accuracy cannot be guaranteed. CIBC and its affiliates have not verified and make no representation and take no responsibility regarding the accuracy or completeness of such information or of any other information or disclosure issued or published by Intuit.
The following table highlights certain information for the Intuit Underlying Shares as of April 15, 2026:
Intuit Underlying Shares Highlights
Market Capitalization: US$107.78 billion
Annual Dividend Yield: 1.23%
Closing Price: US$389.72 per share
52 Week Trading Range (Low - High): US$350.94 – US$807.39 per share
The Intuit Underlying Shares are listed for trading on the NASDAQ under the symbol "INTU". The following table sets forth, for the periods indicated, the reported monthly range of high and low prices per Intuit Underlying Share and total monthly volumes traded on the NASDAQ. Past performance of the Intuit Underlying Shares is not indicative of future performance and should not be used to forecast any return that a CDR Holder may realize on the Intuit CDRs.
| Month | Price per Underlying Share (US$) Monthly High | Price per Underlying Share (US$) Monthly Low | Total Monthly Volume |
|---|---|---|---|
| April 2025 | 627.47 | 544.07 | 39,258,451 |
| May 2025 | 757.22 | 623.19 | 41,026,922 |
| June 2025 | 787.63 | 753.98 | 31,667,095 |
| July 2025 | 807.39 | 745.95 | 31,882,462 |
| August 2025 | 784.87 | 656.96 | 44,938,856 |
| September 2025 | 702.09 | 646.03 | 43,623,695 |
| October 2025 | 683.39 | 641.79 | 37,287,097 |
| November 2025 | 676.19 | 629.13 | 35,067,884 |
| December 2025 | 676.55 | 631.62 | 37,702,398 |
| January 2026 | 652.75 | 498.92 | 58,465,394 |
| February 2026 | 487.12 | 358.71 | 102,929,009 |
| March 2026 | 481.17 | 416.44 | 80,410,906 |
| April 1-15, 2026 | 425.87 | 350.94 | 38,929,998 |
Source: Bloomberg.
U.S. CDR Prospectus Supplement No. 3 | 14
The KLA Underlying Shares
KLA provides advanced process control and process-enabling solutions for manufacturing wafers, reticles/masks, chemicals/materials, integrated circuits, packaged integrated circuits and printed circuit boards, as well as support and services across KLA's installed base.
Information with respect to KLA and its business and operations can be accessed through KLA's profile page on the EDGAR website at www.sec.gov/edgar.shtml and on KLA's corporate website at ir.kla.com. All information in this Prospectus Supplement relating to the KLA Underlying Shares is presented in summary form and is derived from publicly available sources and assumed to be reliable, although its accuracy cannot be guaranteed. CIBC and its affiliates have not verified and make no representation and take no responsibility regarding the accuracy or completeness of such information or of any other information or disclosure issued or published by KLA.
The following table highlights certain information for the KLA Underlying Shares as of April 15, 2026:
KLA Underlying Shares Highlights
Market Capitalization: US$229.14 billion
Annual Dividend Yield: 0.45%
Closing Price: US$1,748.11 per share
52 Week Trading Range (Low - High): US$576.53 – US$1,795.91 per share
The KLA Underlying Shares are listed for trading on the NASDAQ under the symbol "KLAC". The following table sets forth, for the periods indicated, the reported monthly range of high and low prices per KLA Underlying Share and total monthly volumes traded on the NASDAQ. Past performance of the KLA Underlying Shares is not indicative of future performance and should not be used to forecast any return that a CDR Holder may realize on the KLA CDRs.
| Month | Price per Underlying Share (US$) Monthly High | Price per Underlying Share (US$) Monthly Low | Total Monthly Volume |
|---|---|---|---|
| April 2025 | 703.31 | 576.53 | 31,518,187 |
| May 2025 | 806.00 | 676.31 | 24,008,111 |
| June 2025 | 902.94 | 762.44 | 25,788,800 |
| July 2025 | 937.76 | 879.03 | 20,782,171 |
| August 2025 | 955.41 | 870.28 | 20,128,290 |
| September 2025 | 1,078.60 | 843.90 | 19,377,475 |
| October 2025 | 1,235.28 | 982.75 | 25,679,909 |
| November 2025 | 1,227.10 | 1,097.12 | 20,751,620 |
| December 2025 | 1,279.60 | 1,157.18 | 17,647,542 |
| January 2026 | 1,684.71 | 1,274.47 | 25,279,161 |
| February 2026 | 1,546.68 | 1,307.22 | 21,026,438 |
| March 2026 | 1,566.19 | 1,344.55 | 23,001,987 |
| April 1-15, 2026 | 1,795.91 | 1,516.84 | 7,993,466 |
Source: Bloomberg.
U.S. CDR Prospectus Supplement No. 3 | 15
The Lam Research Underlying Shares
Lam Research is a global supplier of wafer fabrication equipment and services to the semiconductor industry.
Information with respect to Lam Research and its business and operations can be accessed through Lam Research's profile page on the EDGAR website at www.sec.gov/edgar.shtml and on Lam Research's corporate website at investor.lamresearch.com. All information in this Prospectus Supplement relating to the Lam Research Underlying Shares is presented in summary form and is derived from publicly available sources and assumed to be reliable, although its accuracy cannot be guaranteed. CIBC and its affiliates have not verified and make no representation and take no responsibility regarding the accuracy or completeness of such information or of any other information or disclosure issued or published by Lam Research.
The following table highlights certain information for the Lam Research Underlying Shares as of April 15, 2026:
Lam Research Underlying Shares Highlights
Market Capitalization: US$331.12 billion
Annual Dividend Yield: 0.39%
Closing Price: US$265.16 per share
52 Week Trading Range (Low - High): US$59.09 – US$272.41 per share
The Lam Research Underlying Shares are listed for trading on the NASDAQ under the symbol "LRCX". The following table sets forth, for the periods indicated, the reported monthly range of high and low prices per Lam Research Underlying Share and total monthly volumes traded on the NASDAQ. Past performance of the Lam Research Underlying Shares is not indicative of future performance and should not be used to forecast any return that a CDR Holder may realize on the Lam Research CDRs.
| Month | Price per Underlying Share (US$) Monthly High | Price per Underlying Share (US$) Monthly Low | Total Monthly Volume |
|---|---|---|---|
| April 2025 | 73.78 | 59.09 | 328,123,496 |
| May 2025 | 85.25 | 71.73 | 211,186,878 |
| June 2025 | 97.34 | 82.48 | 213,912,810 |
| July 2025 | 101.74 | 94.84 | 224,913,786 |
| August 2025 | 107.38 | 95.94 | 241,928,692 |
| September 2025 | 133.90 | 97.03 | 247,916,539 |
| October 2025 | 161.01 | 131.37 | 270,705,505 |
| November 2025 | 166.37 | 139.59 | 215,255,781 |
| December 2025 | 178.07 | 154.79 | 219,851,670 |
| January 2026 | 248.17 | 185.06 | 283,725,533 |
| February 2026 | 249.48 | 209.78 | 203,743,922 |
| March 2026 | 238.84 | 199.33 | 244,478,851 |
| April 1-15, 2026 | 272.41 | 218.44 | 86,828,973 |
Source: Bloomberg.
U.S. CDR Prospectus Supplement No. 3 | 16
The Marvell Technology Underlying Shares
Marvell Technology is a supplier of data infrastructure semiconductor solutions.
Information with respect to Marvell Technology and its business and operations can be accessed through Marvell Technology's profile page on the EDGAR website at www.sec.gov/edgar.shtml and on Marvell Technology's corporate website at investor.marvell.com. All information in this Prospectus Supplement relating to the Marvell Technology Underlying Shares is presented in summary form and is derived from publicly available sources and assumed to be reliable, although its accuracy cannot be guaranteed. CIBC and its affiliates have not verified and make no representation and take no responsibility regarding the accuracy or completeness of such information or of any other information or disclosure issued or published by Marvell Technology.
The following table highlights certain information for the Marvell Technology Underlying Shares as of April 15, 2026:
Marvell Technology Underlying Shares Highlights
Market Capitalization: US$117.68 billion
Annual Dividend Yield: 0.18%
Closing Price: US$134.60 per share
52 Week Trading Range (Low - High): US$49.38 – US$134.60 per share
The Marvell Technology Underlying Shares are listed for trading on the NASDAQ under the symbol "MRVL". The following table sets forth, for the periods indicated, the reported monthly range of high and low prices per Marvell Technology Underlying Share and total monthly volumes traded on the NASDAQ. Past performance of the Marvell Technology Underlying Shares is not indicative of future performance and should not be used to forecast any return that a CDR Holder may realize on the Marvell Technology CDRs.
| Month | Price per Underlying Share (US$) Monthly High | Price per Underlying Share (US$) Monthly Low | Total Monthly Volume |
|---|---|---|---|
| April 2025 | 63.23 | 49.38 | 429,704,491 |
| May 2025 | 65.90 | 56.31 | 433,467,777 |
| June 2025 | 79.97 | 61.47 | 486,643,180 |
| July 2025 | 81.74 | 70.85 | 390,426,451 |
| August 2025 | 79.32 | 62.87 | 393,034,806 |
| September 2025 | 84.07 | 62.31 | 542,957,085 |
| October 2025 | 93.74 | 81.05 | 393,498,333 |
| November 2025 | 93.33 | 76.68 | 318,709,297 |
| December 2025 | 100.20 | 81.70 | 411,511,812 |
| January 2026 | 90.23 | 78.92 | 291,586,479 |
| February 2026 | 82.35 | 73.73 | 251,007,667 |
| March 2026 | 99.05 | 75.68 | 541,514,748 |
| April 1-15, 2026 | 134.60 | 106.71 | 301,025,546 |
Source: Bloomberg.
U.S. CDR Prospectus Supplement No. 3 | 17
The Northrop Grumman Underlying Shares
Northrop Grumman is a global aerospace and defense technology company.
Information with respect to Northrop Grumman and its business and operations can be accessed through Northrop Grumman's profile page on the EDGAR website at www.sec.gov/edgar.shtml and on Northrop Grumman's corporate website at investor.northropgrumman.com. All information in this Prospectus Supplement relating to the Northrop Grumman Underlying Shares is presented in summary form and is derived from publicly available sources and assumed to be reliable, although its accuracy cannot be guaranteed. CIBC and its affiliates have not verified and make no representation and take no responsibility regarding the accuracy or completeness of such information or of any other information or disclosure issued or published by Northrop Grumman.
The following table highlights certain information for the Northrop Grumman Underlying Shares as of April 15, 2026:
Northrop Grumman Underlying Shares Highlights
Market Capitalization: US$96.38 billion
Annual Dividend Yield: 1.43%
Closing Price: US$678.59 per share
52 Week Trading Range (Low - High): US$456.30 – US$768.02 per share
The Northrop Grumman Underlying Shares are listed for trading on the NYSE under the symbol "NOC". The following table sets forth, for the periods indicated, the reported monthly range of high and low prices per Northrop Grumman Underlying Share and total monthly volumes traded on the NYSE. Past performance of the Northrop Grumman Underlying Shares is not indicative of future performance and should not be used to forecast any return that a CDR Holder may realize on the Northrop Grumman CDRs.
| Month | Price per Underlying Share (US$) Monthly High | Price per Underlying Share (US$) Monthly Low | Total Monthly Volume |
|---|---|---|---|
| April 2025 | 540.39 | 463.07 | 30,691,312 |
| May 2025 | 493.33 | 456.30 | 20,984,743 |
| June 2025 | 516.72 | 483.38 | 16,316,726 |
| July 2025 | 576.61 | 498.90 | 17,429,616 |
| August 2025 | 597.21 | 580.24 | 14,995,093 |
| September 2025 | 609.32 | 571.63 | 15,850,928 |
| October 2025 | 637.95 | 578.60 | 17,659,351 |
| November 2025 | 577.14 | 558.00 | 13,781,246 |
| December 2025 | 584.66 | 545.51 | 13,905,429 |
| January 2026 | 695.35 | 577.01 | 23,822,706 |
| February 2026 | 736.87 | 678.83 | 17,398,414 |
| March 2026 | 768.02 | 671.59 | 18,711,721 |
| April 1-15, 2026 | 702.50 | 673.73 | 6,741,968 |
Source: Bloomberg.
U.S. CDR Prospectus Supplement No. 3 | 18
The Quanta Services Underlying Shares
Quanta Services provides infrastructure solutions for the electric and gas utility, power generation, large load center, manufacturing, communications, pipeline and energy industries.
Information with respect to Quanta Services and its business and operations can be accessed through Quanta Services' profile page on the EDGAR website at www.sec.gov/edgar.shtml and on Quanta Services' corporate website at investors.quantaservices.com. All information in this Prospectus Supplement relating to the Quanta Services Underlying Shares is presented in summary form and is derived from publicly available sources and assumed to be reliable, although its accuracy cannot be guaranteed. CIBC and its affiliates have not verified and make no representation and take no responsibility regarding the accuracy or completeness of such information or of any other information or disclosure issued or published by Quanta Services.
The following table highlights certain information for the Quanta Services Underlying Shares as of April 15, 2026:
Quanta Services Underlying Shares Highlights
Market Capitalization: US$88.81 billion
Annual Dividend Yield: 0.07%
Closing Price: US$591.82 per share
52 Week Trading Range (Low - High): US$239.47 – US$595.84 per share
The Quanta Services Underlying Shares are listed for trading on the NYSE under the symbol "PWR". The following table sets forth, for the periods indicated, the reported monthly range of high and low prices per Quanta Services Underlying Share and total monthly volumes traded on the NYSE. Past performance of the Quanta Services Underlying Shares is not indicative of future performance and should not be used to forecast any return that a CDR Holder may realize on the Quanta Services CDRs.
| Month | Price per Underlying Share (US$) Monthly High | Price per Underlying Share (US$) Monthly Low | Total Monthly Volume |
|---|---|---|---|
| April 2025 | 292.69 | 239.47 | 28,393,103 |
| May 2025 | 344.96 | 317.65 | 27,444,258 |
| June 2025 | 381.26 | 345.53 | 22,843,065 |
| July 2025 | 421.68 | 372.29 | 25,802,864 |
| August 2025 | 395.17 | 375.87 | 21,033,194 |
| September 2025 | 414.42 | 372.50 | 20,246,566 |
| October 2025 | 453.83 | 412.21 | 25,335,436 |
| November 2025 | 464.88 | 426.87 | 19,919,667 |
| December 2025 | 466.91 | 414.25 | 19,155,415 |
| January 2026 | 483.43 | 413.17 | 20,623,871 |
| February 2026 | 568.21 | 464.57 | 22,981,113 |
| March 2026 | 578.44 | 533.78 | 26,340,376 |
| April 1-15, 2026 | 595.84 | 554.38 | 8,588,952 |
Source: Bloomberg.
U.S. CDR Prospectus Supplement No. 3 | 19
The Sandisk Underlying Shares
Sandisk develops, manufactures and provides data storage devices and solutions based on NAND flash technology.
Information with respect to Sandisk and its business and operations can be accessed through Sandisk's profile page on the EDGAR website at www.sec.gov/edgar.shtml and on Sandisk's corporate website at investor.sandisk.com. All information in this Prospectus Supplement relating to the Sandisk Underlying Shares is presented in summary form and is derived from publicly available sources and assumed to be reliable, although its accuracy cannot be guaranteed. CIBC and its affiliates have not verified and make no representation and take no responsibility regarding the accuracy or completeness of such information or of any other information or disclosure issued or published by Sandisk.
The following table highlights certain information for the Sandisk Underlying Shares as of April 15, 2026:
Sandisk Underlying Shares Highlights
Market Capitalization: US$136.78 billion
Annual Dividend Yield: N/A
Closing Price: US$891.72 per share
52 Week Trading Range (Low - High): US$29.62 – US$952.50 per share
The Sandisk Underlying Shares are listed for trading on the NASDAQ under the symbol "SNDK". The following table sets forth, for the periods indicated, the reported monthly range of high and low prices per Sandisk Underlying Share and total monthly volumes traded on the NASDAQ. Past performance of the Sandisk Underlying Shares is not indicative of future performance and should not be used to forecast any return that a CDR Holder may realize on the Sandisk CDRs.
| Month | Price per Underlying Share (US$) Monthly High | Price per Underlying Share (US$) Monthly Low | Total Monthly Volume |
|---|---|---|---|
| April 2025 | 48.11 | 29.62 | 77,143,984 |
| May 2025 | 42.00 | 32.59 | 49,711,827 |
| June 2025 | 47.44 | 37.33 | 74,868,311 |
| July 2025 | 46.95 | 41.36 | 45,079,185 |
| August 2025 | 52.47 | 40.69 | 55,396,329 |
| September 2025 | 113.50 | 51.07 | 159,028,153 |
| October 2025 | 204.36 | 116.91 | 187,943,331 |
| November 2025 | 283.10 | 194.57 | 319,795,766 |
| December 2025 | 250.08 | 194.38 | 176,321,590 |
| January 2026 | 576.25 | 274.08 | 355,730,469 |
| February 2026 | 695.51 | 541.64 | 427,052,525 |
| March 2026 | 772.09 | 527.33 | 411,193,419 |
| April 1-15, 2026 | 952.50 | 692.73 | 170,657,976 |
Source: Bloomberg.
U.S. CDR Prospectus Supplement No. 3 | 20
The Stryker Underlying Shares
Stryker is a medical technologies company that offers products and services in medical-surgical, neurotechnology and orthopaedics.
Information with respect to Stryker and its business and operations can be accessed through Stryker's profile page on the EDGAR website at www.sec.gov/edgar.shtml and on Stryker's corporate website at investors.stryker.com. All information in this Prospectus Supplement relating to the Stryker Underlying Shares is presented in summary form and is derived from publicly available sources and assumed to be reliable, although its accuracy cannot be guaranteed. CIBC and its affiliates have not verified and make no representation and take no responsibility regarding the accuracy or completeness of such information or of any other information or disclosure issued or published by Stryker.
The following table highlights certain information for the Stryker Underlying Shares as of April 15, 2026:
Stryker Underlying Shares Highlights
Market Capitalization: US$130.69 billion
Annual Dividend Yield: 1.04%
Closing Price: US$341.24 per share
52 Week Trading Range (Low - High): US$326.10 – US$403.53 per share
The Stryker Underlying Shares are listed for trading on the NYSE under the symbol "SYK". The following table sets forth, for the periods indicated, the reported monthly range of high and low prices per Stryker Underlying Share and total monthly volumes traded on the NYSE. Past performance of the Stryker Underlying Shares is not indicative of future performance and should not be used to forecast any return that a CDR Holder may realize on the Stryker CDRs.
| Month | Price per Underlying Share (US$) Monthly High | Price per Underlying Share (US$) Monthly Low | Total Monthly Volume |
|---|---|---|---|
| April 2025 | 377.46 | 337.37 | 41,440,416 |
| May 2025 | 394.69 | 373.99 | 28,794,968 |
| June 2025 | 395.63 | 373.26 | 23,804,795 |
| July 2025 | 403.53 | 387.32 | 25,992,669 |
| August 2025 | 394.33 | 374.94 | 26,012,329 |
| September 2025 | 394.34 | 368.57 | 26,772,053 |
| October 2025 | 388.35 | 356.24 | 35,291,989 |
| November 2025 | 375.08 | 353.81 | 34,605,599 |
| December 2025 | 372.32 | 349.23 | 35,027,257 |
| January 2026 | 369.56 | 348.18 | 39,860,490 |
| February 2026 | 387.46 | 356.08 | 39,249,274 |
| March 2026 | 387.02 | 326.10 | 49,907,710 |
| April 1-15, 2026 | 347.24 | 329.40 | 17,955,677 |
Source: Bloomberg.
U.S. CDR Prospectus Supplement No. 3 | 21
The T-Mobile Underlying Shares
T-Mobile provides wireless communications and broadband services, both on a direct and wholesale basis, as well as wireless devices and accessories.
Information with respect to T-Mobile and its business and operations can be accessed through T-Mobile's profile page on the EDGAR website at www.sec.gov/edgar.shtml and on T-Mobile's corporate website at investor.t-mobile.com. All information in this Prospectus Supplement relating to the T-Mobile Underlying Shares is presented in summary form and is derived from publicly available sources and assumed to be reliable, although its accuracy cannot be guaranteed. CIBC and its affiliates have not verified and make no representation and take no responsibility regarding the accuracy or completeness of such information or of any other information or disclosure issued or published by T-Mobile.
The following table highlights certain information for the T-Mobile Underlying Shares as of April 15, 2026:
T-Mobile Underlying Shares Highlights
Market Capitalization: US$209.56 billion
Annual Dividend Yield: 2.17%
Closing Price: US$190.19 per share
52 Week Trading Range (Low - High): US$183.60 – US$268.54 per share
The T-Mobile Underlying Shares are listed for trading on the NASDAQ under the symbol "TMUS". The following table sets forth, for the periods indicated, the reported monthly range of high and low prices per T-Mobile Underlying Share and total monthly volumes traded on the NASDAQ. Past performance of the T-Mobile Underlying Shares is not indicative of future performance and should not be used to forecast any return that a CDR Holder may realize on the T-Mobile CDRs.
| Month | Price per Underlying Share (US$) Monthly High | Price per Underlying Share (US$) Monthly Low | Total Monthly Volume |
|---|---|---|---|
| April 2025 | 268.54 | 232.77 | 111,332,117 |
| May 2025 | 253.80 | 235.29 | 84,471,679 |
| June 2025 | 245.86 | 220.99 | 103,988,914 |
| July 2025 | 247.50 | 226.02 | 91,559,009 |
| August 2025 | 259.01 | 237.20 | 82,103,181 |
| September 2025 | 255.89 | 237.44 | 85,574,953 |
| October 2025 | 233.26 | 210.05 | 116,417,154 |
| November 2025 | 216.08 | 201.01 | 99,388,057 |
| December 2025 | 210.13 | 195.16 | 111,060,910 |
| January 2026 | 200.86 | 183.60 | 119,934,973 |
| February 2026 | 221.98 | 194.99 | 137,101,861 |
| March 2026 | 221.57 | 206.59 | 121,800,223 |
| April 1-15, 2026 | 204.25 | 190.00 | 54,871,912 |
Source: Bloomberg.
U.S. CDR Prospectus Supplement No. 3 | 22
The Vertiv Underlying Shares
Vertiv designs, manufactures, sells, installs, maintains, and services digital infrastructure technologies for applications in data centers, communication networks, and commercial and industrial environments.
Information with respect to Vertiv and its business and operations can be accessed through Vertiv's profile page on the EDGAR website at www.sec.gov/edgar.shtml and on Vertiv's corporate website at investors.vertiv.com. All information in this Prospectus Supplement relating to the Vertiv Underlying Shares is presented in summary form and is derived from publicly available sources and assumed to be reliable, although its accuracy cannot be guaranteed. CIBC and its affiliates have not verified and make no representation and take no responsibility regarding the accuracy or completeness of such information or of any other information or disclosure issued or published by Vertiv.
The following table highlights certain information for the Vertiv Underlying Shares as of April 15, 2026:
Vertiv Underlying Shares Highlights
Market Capitalization: US$115.22 billion
Annual Dividend Yield: 0.08%
Closing Price: US$301.16 per share
52 Week Trading Range (Low - High): US$59.41 – US$310.51 per share
The Vertiv Underlying Shares are listed for trading on the NYSE under the symbol "VRT". The following table sets forth, for the periods indicated, the reported monthly range of high and low prices per Vertiv Underlying Share and total monthly volumes traded on the NYSE. Past performance of the Vertiv Underlying Shares is not indicative of future performance and should not be used to forecast any return that a CDR Holder may realize on the Vertiv CDRs.
| Month | Price per Underlying Share (US$) Monthly High | Price per Underlying Share (US$) Monthly Low | Total Monthly Volume |
|---|---|---|---|
| April 2025 | 86.95 | 59.41 | 269,429,302 |
| May 2025 | 109.79 | 92.55 | 148,605,680 |
| June 2025 | 128.41 | 108.47 | 128,036,860 |
| July 2025 | 145.60 | 120.72 | 185,550,641 |
| August 2025 | 143.72 | 125.02 | 128,978,798 |
| September 2025 | 151.96 | 121.82 | 150,136,795 |
| October 2025 | 199.27 | 158.87 | 189,157,825 |
| November 2025 | 191.40 | 159.61 | 141,057,173 |
| December 2025 | 189.02 | 149.83 | 139,005,876 |
| January 2026 | 195.10 | 160.78 | 101,587,651 |
| February 2026 | 262.19 | 177.75 | 134,745,879 |
| March 2026 | 276.16 | 234.22 | 245,332,006 |
| April 1-15, 2026 | 310.51 | 258.73 | 45,896,782 |
Source: Bloomberg.
U.S. CDR Prospectus Supplement No. 3 | 23
The Western Digital Underlying Shares
Western Digital is a developer, manufacturer, and provider of data storage devices and solutions based on hard disk drive technology.
Information with respect to Western Digital and its business and operations can be accessed through Western Digital's profile page on the EDGAR website at www.sec.gov/edgar.shtml and on Western Digital's corporate website at investor.wdc.com. All information in this Prospectus Supplement relating to the Western Digital Underlying Shares is presented in summary form and is derived from publicly available sources and assumed to be reliable, although its accuracy cannot be guaranteed. CIBC and its affiliates have not verified and make no representation and take no responsibility regarding the accuracy or completeness of such information or of any other information or disclosure issued or published by Western Digital.
The following table highlights certain information for the Western Digital Underlying Shares as of April 15, 2026:
Western Digital Underlying Shares Highlights
Market Capitalization: US$123.75 billion
Annual Dividend Yield: 0.12%
Closing Price: US$365.00 per share
52 Week Trading Range (Low - High): US$30.54 – US$366.22 per share
The Western Digital Underlying Shares are listed for trading on the NASDAQ under the symbol "WDC". The following table sets forth, for the periods indicated, the reported monthly range of high and low prices per Western Digital Underlying Share and total monthly volumes traded on the NASDAQ. Past performance of the Western Digital Underlying Shares is not indicative of future performance and should not be used to forecast any return that a CDR Holder may realize on the Western Digital CDRs.
| Month | Price per Underlying Share (US$) Monthly High | Price per Underlying Share (US$) Monthly Low | Total Monthly Volume |
|---|---|---|---|
| April 2025 | 43.86 | 30.54 | 217,502,697 |
| May 2025 | 52.55 | 43.95 | 139,077,387 |
| June 2025 | 63.99 | 52.19 | 128,885,114 |
| July 2025 | 78.69 | 63.84 | 160,466,062 |
| August 2025 | 82.04 | 73.78 | 126,210,535 |
| September 2025 | 120.06 | 81.91 | 208,501,530 |
| October 2025 | 150.21 | 113.13 | 240,611,936 |
| November 2025 | 174.22 | 139.19 | 171,758,186 |
| December 2025 | 187.20 | 155.59 | 163,549,926 |
| January 2026 | 279.70 | 187.68 | 205,762,898 |
| February 2026 | 296.56 | 260.19 | 207,738,758 |
| March 2026 | 316.93 | 245.25 | 194,702,014 |
| April 1-15, 2026 | 366.22 | 294.97 | 76,035,331 |
Source: Bloomberg.
U.S. CDR Prospectus Supplement No. 3 | 24
Plan of Distribution
Each Offered Series of CDRs may be offered on a continuous basis by this Prospectus and there is no minimum or maximum number of CDRs (in the aggregate or with respect to any particular Series) that may be issued. CIBC has received conditional approval from the TSX to list each Offered Series of CDRs. Listing of each Offered Series is subject to CIBC fulfilling all of the requirements of the TSX, which cannot be guaranteed. There can be no assurance that such listing will be obtained or, even if obtained, that an active and liquid market for any Series of CDRs will develop or be maintained. CIBC does not intend to issue CDRs unless the CDRs are listed for trading on a recognized Canadian stock exchange. Dealers may place subscription orders with the Depositary. See “Description of CDRs — Subscriptions for CDRs” in the Base Prospectus.
Relationship Between CIBC and Dealers
CIBC may enter into various agreements with Dealers, including CIBC WMI, pursuant to which Dealers may subscribe for and purchase CDRs as described under the heading “Description of CDRs — Subscriptions for CDRs” in the Base Prospectus. No Dealer has been involved in the preparation of the Base Prospectus or this Prospectus Supplement or has performed any review of the contents of the Base Prospectus or this Prospectus Supplement and, as such, the Dealers do not perform many of the usual underwriting activities in connection with the distribution by CIBC of CDRs under this Prospectus. CDRs do not represent an interest or an obligation of any Dealer or any affiliate thereof (other than the obligations of CIBC under the Deposit Agreement) and a Holder does not have any recourse against any such parties in respect of amounts payable by or to CIBC to or by the applicable Dealers.
CIBC WMI is a wholly-owned subsidiary of CIBC. By virtue of such ownership, CIBC is a “related issuer” and a “connected issuer” of CIBC WMI within the meaning of applicable securities legislation in connection with any offering of CDRs under this Prospectus.
U.S. CDR Prospectus Supplement No. 3 | 25
Appendix A
Additional Information
Forward-Looking Statements
This Prospectus Supplement and the Base Prospectus, including the documents that are incorporated by reference in this Prospectus Supplement and the Base Prospectus, contain forward-looking statements within the meaning of certain securities laws. All such statements are made pursuant to the "safe harbour" provisions of, and are intended to be forward-looking statements under applicable Canadian and U.S. securities legislation, including the U.S. Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements made about the operations, business lines, financial condition, risk management, priorities, targets and sustainability commitments (including with respect to CIBC's sustainability ambitions and related activities), ongoing objectives, strategies, the regulatory environment in which CIBC operates and outlook for calendar year 2026 and subsequent periods. Forward-looking statements are typically identified by the words "believe", "expect", "anticipate", "intend", "estimate", "forecast", "target", "predict", "commit", "ambition", "goal", "strive", "project", "objective" and other similar expressions or future or conditional verbs such as "will", "may", "should", "would" and "could". By their nature, these statements require CIBC to make assumptions, and are subject to inherent risks and uncertainties that may be general or specific. Given the potential negative economic impacts tied to the actual and proposed U.S. imposition of tariffs on Canada and other countries and their countermeasures, the softening labour market and uncertain political conditions in the U.S., the continuing impact of hybrid work arrangements and high interest rates on the U.S. real estate sector, and the war in Ukraine and conflict in the Middle East on the global economy, financial markets, and CIBC's business, results of operations, reputation and financial condition, there is inherently more uncertainty associated with CIBC's assumptions as compared to prior periods. A variety of factors, many of which are beyond CIBC's control, affect the operations, performance and results of CIBC, and could cause actual results to differ materially from the expectations expressed in any of CIBC's forward-looking statements. These factors include: trade policies and tensions, including tariffs and government tariff mitigation policies; inflationary pressures in the U.S.; global supply-chain disruptions; geopolitical risk, including from the war in Ukraine and conflict in the Middle East; the impact of post-pandemic hybrid work arrangements; credit, market, liquidity, strategic, insurance, operational, reputation, conduct and legal, regulatory and environmental risk; currency value and interest rate fluctuations, including as a result of market and oil price volatility; the effectiveness and adequacy of CIBC's risk management and valuation models and processes; legislative or regulatory developments in the jurisdictions where CIBC operates, including the Organisation for Economic Co-operation and Development Common Reporting Standard, and regulatory reforms in the United Kingdom and Europe, the Basel Committee on Banking Supervision's global standards for capital and liquidity reform, and those relating to bank recapitalization legislation, open banking and the payments system in Canada; amendments to, and interpretations of, risk-based capital guidelines and reporting instructions, and interest rate and liquidity regulatory guidance; exposure to, and the resolution of, significant litigation or regulatory matters, CIBC's ability to successfully appeal adverse outcomes of such matters and the timing, determination and recovery of amounts related to such matters; the effect of changes to accounting standards, rules and interpretations; changes in CIBC's estimates of reserves and allowances; changes in tax laws; changes to CIBC's credit ratings; political conditions and developments, including changes relating to economic matters; the possible effect on CIBC's business of international conflicts, such as the war in Ukraine and conflict in the Middle East, and terrorism; natural disasters, disruptions to public infrastructure and other catastrophic events; the occurrence of public health emergencies and any related government policies and actions; reliance on third parties to provide components of CIBC's business infrastructure; potential disruptions to CIBC's information technology systems and services; increasing cyber security risks, which may include theft or disclosure of assets, unauthorized access to sensitive information, or operational disruption; social media risk; losses incurred as a result of internal or external fraud; anti-money laundering; the accuracy and completeness of information provided to CIBC concerning clients and counterparties; the failure of third parties to comply with their obligations to CIBC and its affiliates or associates; intensifying competition from established competitors and new entrants in the financial services industry, including through internet and mobile banking; technological change, including the use of data and artificial intelligence (AI) in CIBC's business; the heavy reliance on AI-related capital spending for U.S. growth and the uncertain employment impacts from its adoption; global capital market activity; changes in monetary and economic policy; general business and economic conditions worldwide, as well as in Canada, the U.S.
U.S. CDR Prospectus Supplement No. 3 | A-1
and other countries where CIBC has operations, including increasing Canadian household debt levels and global credit risks; environmental and social risks, including CIBC's ability to implement various sustainability-related initiatives internally and with its clients under expected time frames and CIBC's ability to scale its sustainable finance products and services; CIBC's success in developing and introducing new products and services, expanding existing distribution channels, developing new distribution channels and realizing increased revenue from these channels; changes in client spending and saving habits; CIBC's ability to attract and retain key employees and executives; CIBC's ability to successfully execute its strategies and complete and integrate acquisitions and joint ventures; the risk that expected benefits of an acquisition, merger or divestiture will not be realized within the expected time frame or at all; and CIBC's ability to anticipate and manage the risks associated with these factors.
This list is not exhaustive of the factors that may affect any of CIBC's forward-looking statements. Additional information about these factors can be found in the "Management of risk" section of CIBC's 2025 Annual Report (as defined below). These and other factors should be considered carefully and readers should not place undue reliance on CIBC's forward-looking statements. CIBC does not undertake to update any forward-looking statement that is contained in this Prospectus Supplement, the Base Prospectus or the documents incorporated by reference in this Prospectus Supplement or the Base Prospectus except as required by law.
Documents Incorporated by Reference
This Prospectus Supplement is deemed to be incorporated by reference into the Base Prospectus solely for the purpose of the CDRs offered pursuant to this Prospectus Supplement. The following documents, which have been filed by CIBC with the various securities commissions or similar authorities in Canada, are specifically incorporated by reference into, and form an integral part of, the Prospectus as of the date of this Prospectus Supplement:
- CIBC's Annual Information Form dated December 3, 2025, which incorporates by reference portions of CIBC's Annual Report for the year ended October 31, 2025 ("CIBC's 2025 Annual Report");
- CIBC's comparative audited consolidated financial statements for the year ended October 31, 2025, together with the auditors' report for CIBC's 2025 fiscal year;
- CIBC's Management's Discussion and Analysis for the year ended October 31, 2025 contained in CIBC's 2025 Annual Report;
- CIBC's comparative unaudited consolidated financial statements for the three month period ended January 31, 2026 included in CIBC's Report to Shareholders for the First Quarter, 2026 ("CIBC's 2026 First Quarter Report");
- CIBC's Management's Discussion and Analysis for the three month period ended January 31, 2026 contained in CIBC's 2026 First Quarter Report; and
- CIBC's Management Proxy Circular dated February 25, 2026 regarding CIBC's annual meeting of shareholders held on April 16, 2026.
Marketing Materials
Any template version of "marketing materials" (as defined in National Instrument 41-101 – General Prospectus Requirements) filed with the securities commission or similar authority in each of the provinces and territories of Canada in connection with this offering after the date hereof but prior to the termination of the distribution of the CDRs under this Prospectus Supplement (including any amendments to, or an amended version of, the marketing materials) is deemed to be incorporated by reference herein and in the Base Prospectus. Any such marketing materials are not part of this Prospectus Supplement or the Base Prospectus to the extent that the contents of the marketing materials have been modified or superseded by a statement contained in an amendment to this Prospectus Supplement or the Base Prospectus.
Changes in CIBC's Consolidated Capitalization
There have been no material changes in the consolidated capitalization of CIBC since January 31, 2026.
U.S. CDR Prospectus Supplement No. 3 | A-2