Ms. Grace Pollock reports

INDUSTRIAL ALLIANCE ANNOUNCES THE PAYMENT OF A DIVIDEND ON ITS COMMON AND PREFERRED SHARES

Industrial Alliance Insurance and Financial Services Inc. has declared a dividend of 35 cents per outstanding common share for the quarter ended March 31, 2017. This dividend will be payable on June 15, 2017, to all common shareholders of record at the close of business on May 26, 2017.

Industrial Alliance reminds common shareholders who wish to enroll in the company's dividend reinvestment and share purchase plan (DRIP) that they must do so no later than 4 p.m. on May 19, 2017, in order to reinvest the next dividend. To enroll, go to the company's website in the investor relations/dividends section. Please note that the common shares issued under the DRIP will be purchased on the secondary market and no discount will be applicable.

Industrial Alliance has also declared:

• A dividend of 28.75 cents per non-cumulative Class A preferred share, Series B. This dividend is payable in cash on June 30, 2017, to preferred shareholders of record at May 31, 2017;
• A dividend of 26.875 cents per non-cumulative Class A preferred share, Series G. This dividend is payable in cash on June 30, 2017, to preferred shareholders of record at May 31, 2017.

For the purposes of the Income Tax Act (Canada) and any corresponding provincial and territorial tax legislation, all dividends paid by the company on its common and preferred shares are considered to be eligible dividends.