Mr. Jason Weyeneth reports

CI FINANCIAL CORP. ANNOUNCES COMPLETION OF DEBT TENDER OFFERS AND PRE-IPO MINORITY INVESTMENT IN ITS U.S. WEALTH MANAGEMENT BUSINESS

CI Financial Corp. has repurchased $234,775,000 of its outstanding 3.215 per cent debentures due 2024, $370,762,000 of its outstanding 3.759 per cent Debentures due 2025 and $97,531,000 of its outstanding 3.904 per cent debentures due 2027 pursuant to the terms of its previously announced offers to purchase.

CI has also closed its previously announced sale of a 20-per-cent minority investment in its U.S. wealth management business to a diversified group of leading institutional investors, including a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA), Bain Capital, Flexpoint Ford, Ares Management funds, the State of Wisconsin and others, for approximately $1.34-billion ($1.0-billion (U.S.)).

About CI Financial Corp.

CI is a diversified global asset and wealth management company operating primarily in Canada, the United States and Australia. Founded in 1965, CI has developed world-class portfolio management talent, extensive capabilities in all aspects of wealth planning and a comprehensive product suite. CI manages and advises on approximately $394.9-billion in client assets (as at April 30, 2023).

CI operates in three segments:

• Asset management, which includes CI Global Asset Management, which operates in Canada, and GSFM Pty, Ltd., which operates in Australia;
• Canada wealth management, which includes the operations of CI Assante Wealth Management, Aligned Capital Partners, CI Private Wealth (Canada), Northwood Family Office, CI Direct Investing and CI Investment Services;
• U.S. wealth management, which includes CI Private Wealth (U.S.), an integrated wealth management firm providing comprehensive solutions to ultrahigh-net-worth and high-net-worth clients across the United States.

CI is headquartered in Toronto and listed on the Toronto Stock Exchange. CI Global Asset Management is a registered business name of CI Investments Inc., a wholly owned subsidiary of CI.