Exchange Bulletin
Honeywell Aerospace CDR (CAD Hedged) (HONA) To Trade On Toronto Stock Exchange
June 30, 2026
Canadian Depositary Receipt to be listed: Honeywell Aerospace CDR (CAD Hedged)
Issuing entity: Canadian Imperial Bank of Commerce (“CIBC”)
Transaction: CIBC will make, on Tuesday, June 30, 2026 a special distribution of one Honeywell Aerospace CDR (as defined below) for each Honeywell CDR (CAD Hedged) (the “Honeywell CDRs”) (Symbol: HON) to holders of Honeywell CDRs of record at the close of business on Monday, June 29, 2026.
As a result of the foregoing, the Honeywell Aerospace CDRs (as defined below) will be listed and posted for trading under the trading information set out below:
| Security* | Symbol | Issued and Outstanding Securities | Reserved Securities |
|---|---|---|---|
| Honeywell Aerospace CDR (CAD Hedged) (the “Honeywell Aerospace CDRs”) | HONA | 2,050,000 | None |
*The Honeywell Aerospace CDRs are a series of Canadian Depositary Receipts.
| Listing category: | Non-Corporate |
| Trading currency: | CDN$ |
| Listing and posted for trading date: | June 30, 2026 |
| Other market(s): | None |
| Designated market maker: | CIBC World Markets Inc. |
| Investor relations: | Elliot Scherer Managing Director & Global Head – Wealth Solutions Group (416) 594-7455 elliot.scherer@cibc.com -or- Nadir Ali Khan Director – Wealth Solutions Group (416) 594-7443 nadir.alikhan@cibc.com |
| Transfer agent and registrar: | TSX Trust Company at its principal office in Toronto. |
| Sponsorship: | Not applicable. |
Principal Attributes of the Honeywell Aerospace CDRs:
| Description: | The Honeywell Aerospace CDRs are securities that represent a beneficial ownership interest in a pool of shares of common stock (the “Underlying Shares”) of Honeywell Aerospace Inc. (the “Underlying Issuer”). The Underlying Shares are expected to be listed on the NASDAQ Global Select Market under the symbol “HONA”. The CDRs are designed to provide Canadian investors with a fractional ownership interest in the Underlying Shares in Canadian dollars with a currency hedge. |
| CDR Ratio: | Each CDR is equivalent to owning a fractional interest in the Underlying Shares. This is represented by the “CDR Ratio”. The CDR Ratio is adjusted on a daily basis to provide a notional currency hedge. As the ratio increases or decreases, the number of Underlying Shares represented by one CDR increases or decreases. So, if the Canadian dollar strengthens, the CDR will represent a larger number of Underlying Shares. Conversely, if the Canadian dollar weakens, the CDR will represent a smaller number of Underlying Shares. For example, if on a given day a CDR holder owns 100 CDRs and the CDR Ratio is 0.10 on that day, then the CDR holder’s interest in the pool of Underlying Shares is proportionate to beneficially owning 10 of the Underlying Shares with a notional hedge to Canadian dollars. The CDR Ratio for each Series of CDRs will be calculated daily and will be available at the CDR Website (https://cdr.cibc.com) under the “CDR Directory” tab. |
| Voting rights: | CDR investors will be entitled to vote the Underlying Shares through CIBC’s online voting portal cdr.cibc.com. CIBC Mellon Trust Company (“CIBC Mellon”), as the Depositary, will then vote the Underlying Shares in accordance with the instructions provided on a commercially reasonable best-efforts basis. The number of Underlying Shares that each CDR holder can vote will depend on how many CDRs they hold and how many Underlying Shares each CDR reflects (i.e., the CDR Ratio). |
| Dividends: | Dividends paid on the Underlying Shares will be passed through to CDR investors in Canadian dollars when received by the Depositary. The record date for determining which CDR holders are entitled to receive any dividends in respect of CDRs will be the record date set by the relevant Underlying Issuer. The Depositary will notify CDR holders of any Record Dates via the CDR Website (https://cdr.cibc.com) under the “Corporate Actions” tab. |
| Beneficial interest: | The Deposit Agreement (as defined below) sets out the terms of the CDR holders’ interests and rights. Each CDR represents an equal undivided direct beneficial interest in the Underlying Shares. CDR holders do not have any ownership interest in any particular Underlying Shares or number or fraction thereof, and CDR holders will not be considered to be shareholders of the Underlying Issuer for the purposes of Canadian or U.S. securities laws. |
| Disclosure documents: | CIBC’s U.S. CDR Prospectus Supplement No. 5 dated June 19, 2026 to the Base Shelf Prospectus dated September 10, 2025 and CIBC’s press release dated June 17, 2026 which are available at www.sedarplus.ca. Capitalized terms not otherwise defined herein are as defined in the disclosure documents. |
| Additional information: | See Toronto Stock Exchange (“TSX”) Bulletin 2026-0635 dated June 25, 2026 regarding the distribution of the Honeywell Aerospace CDRs and ex-distribution trading for the Honeywell CDRs. |
| TSX contact: | Selma Thaver, Managing Director, TSX Listings |