Mr. Blake Goldring reports

AGF ANNOUNCES PASSING OF KEVIN MCCREADIE, CEO AND CIO

It is with great sadness that AGF Management Ltd. has experienced the sudden passing of Kevin McCreadie, the firm's chief executive officer (CEO) and chief investment officer (CIO).

"The entire AGF team is devastated by the loss of Kevin, our colleague and leader," said Blake Goldring, executive chairman, AGF. "His impact on our organization -- and the people within it -- has been profound and will be lasting. We extend our heartfelt condolences to the McCreadie family during this difficult time."

Mr. McCreadie joined the firm in 2014, and his leadership, vision and dedication played a pivotal role in shaping the firm into what it is today. He will be remembered for many things, in particular his passion for investment management and his focus on developing and nurturing talent for the future. Mr. McCreadie will also be remembered for his personal mentorship of employees, unwavering commitment to diversity initiatives and promoting financial literacy.

Judy Goldring, LLB, LLD, named CEO

Given today's announcement, the AGF board of directors has activated its succession plan protocols and named Ms. Goldring, AGF's president and head of global distribution, as CEO, effective immediately.

Ms. Goldring is a respected leader in the asset management industry with over 30 years of experience in a range of roles. In her most recent role as president and head of global distribution, she oversaw the execution of strategic plans in support of business priorities and provided frequent counsel to Mr. McCreadie on business planning and direction for corporate initiatives.

Ms. Goldring joined AGF in 1998 in the role of general counsel and has held several roles with increasing responsibility across the firm. Prior to being named president, she served as executive vice-president and chief operating officer. In the role, she demonstrated leadership in promoting and supporting the firm's operational effectiveness. Ms. Goldring is also a member of the board of directors for AGF management and AGF mutual funds where she provides strategic leadership and vision that promotes AGF's long-term growth. Outside of AGF, Ms. Goldring is also chair, board of directors, SIMA (formerly IFIC).

"We have full confidence in Judy's ability to lead the firm given her profile, vision and demonstrated leadership skills," added Mr. Goldring. "She has the full support of the AGF team and our board of directors."

Ms. Goldring will work closely with AGF's office of the CIO -- established under Mr. McCreadie's leadership -- as they continue to lead AGF's investment management team, ensuring stability of culture and focus on delivering strong, consistent investment performance for clients.

"Under Kevin's visionary leadership, AGF's culture is strong and the firm is strategically well positioned for sustained growth," concluded Mr. Goldring. "The board has every confidence in the AGF team's ability to continue driving long-term success for the benefit of all stakeholders."

About AGF Management Ltd.

Founded in 1957, AGF Management is an independent and globally diverse asset management firm. The companies deliver excellence in investing in the public and private markets through three business lines: AGF Investments, AGF Capital Partners and AGF Private Wealth.

AGF brings a disciplined approach, focused on incorporating sound, responsible and sustainable corporate practices. The firm's collective investment expertise, driven by its fundamental, quantitative and private investing capabilities, extends globally to a wide range of clients, from financial advisers and their clients to high-net-worth and institutional investors including pension plans, corporate plans, sovereign wealth funds, endowments and foundations.

Headquartered in Toronto, Canada, AGF has investment operations and client servicing teams on the ground in North America and Europe. With over $53-billion in total assets under management and fee-earning assets, AGF serves more than 815,000 investors. AGF trades on the Toronto Stock Exchange under the symbol AGF.B.