Mr. Kurt MacAlpine reports

CI FINANCIAL'S TOTAL ASSETS GROW BY $152.5 BILLION IN 2021 TO RECORD $384.1 BILLION

CI Financial Corp. had preliminary assets under management as at Dec. 31, 2021, of $152.1-billion and wealth management assets of $232-billion, for total assets of $384.1-billion.

In December, CI completed the previously announced acquisitions of registered investment adviser firms CPWM LLC of Seattle (which does business as Columbia Pacific Wealth Management), Gofen & Glossberg LLC of Chicago, RegentAtlantic Capital LLC of Morristown, N.J., and R.H. Bluestein & Co. of Birmingham, Mich., and completed minority investments in alternative investment firms Columbia Pacific Advisors LLC of Seattle and GLAS Funds LLC of Cleveland. The six firms manage combined assets of approximately $39.4-billion.

CI also reported preliminary net sales results for its asset management businesses. Overall net sales in the fourth quarter of 2021 were flat, with net sales for the year reaching $300-million. As a result, 2021 was the first year of positive net sales since 2015. In comparison, CI had total net redemptions of $8.8-billion in 2020. CI's Canadian retail business recorded net sales of $800-million in 2021 versus net redemptions of $4.9-billion for the prior year.

"CI had a tremendous year with our total assets growing by more than $152-billion, or 66 per cent, due to acquisitions, strong organic growth across our wealth management business and a significant improvement in asset management flows," said Kurt MacAlpine, chief executive officer of CI.

"We continued to execute well across the organization on our strategic priorities of modernizing asset management, expanding wealth management and globalizing our company. In the U.S., we added 15 registered investment advisers to our network during the year and completed minority investments in two alternative investment firms, making our U.S. operations our largest line of business by assets. We now have 23 exceptional RIAs across the U.S. and we see continued momentum and growth as we work to build the country's leading private wealth platform serving high-net-worth and ultrahigh-net-worth clients.

"In asset management, we achieved positive annual net flows for the first time in six years. These results reflect the many changes we have made to transform that business and the impressive improvements in overall investment performance."

About CI Financial Corp.

CI Financial is an integrated global, wealth and asset management company. CI's primary asset management businesses are CI Global Asset Management (CI Investments Inc.) and GSFM Pty. Ltd., and it operates in Canadian wealth management through CI Assante Wealth Management (Assante Wealth Management (Canada) Ltd.), CI Private Counsel LP, Aligned Capital Partners Inc., CI Direct Investing (WealthBar Financial Services Inc.), and CI Investment Services Inc.

CI's U.S. wealth management businesses consist of Barrett Asset Management LLC, Balasa Dinverno Foltz LLC, BRR OpCo LLC, Bowling Portfolio Management LLC, Brightworth LLC, The Cabana Group LLC, CPWM LLC, Congress Wealth Management LLC, Dowling & Yahnke LLC, Doyle Wealth Management LLC, Gofen & Glossberg LLC, Matrix Capital Advisors LLC, McCutchen Group LLC, OCM Capital Partners LLC, Portola Partners Group LLC, Radnor Financial Advisors LLC, RegentAtlantic Capital LLC, The Roosevelt Investment Group LLC, RGT Wealth Advisors LLC, R.H. Bluestein & Co., Segall Bryant & Hamill LLC, Stavis & Cohen Private Wealth LLC, and Surevest LLC.

CI is listed on the Toronto Stock Exchange under CIX and on the New York Stock Exchange under CIXX.

We seek Safe Harbor.