Sun Life Announces Intended Renewal of Normal Course Issuer Bid

May 7, 2025, the Company had purchased on the TSX, other Canadian stock exchanges and/or alternative Canadian trading platforms

Sun Life Financial Inc. (TSX: SLF) (NYSE: SLF) today announced that it had purchased 13,018,997 common shares on the TSX, other Canadian stock exchanges and/or alternative Canadian trading platforms out of the 15,000,000 common shares it was authorized to repurchase under the 2024 NCIB, at a weighted average price paid per common share of approximately $80.79.

In accordance with the requirements of the TSX, because the Company is renewing its normal course issuer bid before the 2024 NCIB expires, the total number of common shares that the Company repurchased under the 2024 NCIB will be deducted from the maximum number of common shares that the Company may purchase under the 2025 NCIB. Accordingly, the Company will seek TSX approval to purchase up to 25,000,000 common shares under the 2025 NCIB, being the aggregate of 10,000,000 common shares and the 2024 Repurchased Shares, representing approximately 4.1% of the 564,731,703 common shares issued and outstanding as at May 5, 2025.

The 2025 NCIB may be terminated at any time by the Company. Readers are cautioned that the common shares may be purchased at market prices prevailing at the time, which prices may be higher or lower than the average price paid for common shares repurchased under the 2024 NCIB. There is no assurance that any common shares will be purchased by the Company under the 2025 NCIB.

The Company intends to use treasury funds to purchase the common shares and such purchases will be made in accordance with applicable securities laws. Common shares purchased by the Company under the 2025 NCIB will be cancelled, reducing the number of common shares issued and outstanding.

About Sun Life

Sun Life Financial Inc. is a leading international financial services organization providing a diverse range of protection and wealth products to individuals and families in Canada, the U.S., the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China, Australia, Singapore, Vietnam, Malaysia and Bermuda. As of March 31, 2025, Sun Life had total assets under management of $1.55 trillion.

Sun Life Financial Inc. trades on the Toronto (TSX), New York (NYSE) and Philippine (PSE) stock exchanges under the ticker symbol SLF.

Note to editors: All figures in Canadian dollars

To contact Sun Life media relations, please email Media.Relations@sunlife.com

To contact Sun Life investor relations, please email Investor_Relations@sunlife.com