Mr. Jason Weyeneth reports

CI FINANCIAL ANNOUNCES EXEMPTIVE RELIEF FROM THE ONTARIO SECURITIES COMMISSION IN SUBSTANTIAL ISSUER BID

CI Financial Corp. has been granted an exemptive relief order from the Ontario Securities Commission in connection with the corporation's substantial issuer bid permitting CI Financial to extend the offer, if it determines to do so in circumstances where the offer is undersubscribed, without first taking up any common shares previously deposited to the offer. The relief relates to the "modified Dutch auction" format of the offer.

At this time, the board of directors of the corporation has not made any determination with respect to an extension of the offer beyond the current expiration at 5 p.m. (Toronto time) on Dec. 18, 2023, but, in the event the offer is extended, the corporation will provide a further news release announcing such extension.

Details of the offer, including instructions for tendering shares to the offer and the factors considered in making its decision to approve the offer, are included in the formal offer to purchase and issuer bid circular, letter of transmittal and notice of guaranteed delivery, mailed to shareholders, filed by CI Financial with the applicable Canadian Securities Administrators and made available free of charge under the corporation's profile on the System for Electronic Data Analysis and Retrieval + (SEDAR+). Shareholders are urged to evaluate carefully all information in the offer, consult their own financial, legal, investment and tax advisers, and make their own decisions as to whether to deposit shares under the offer, and, if so, how many shares to deposit and at what price(s).

Any questions or requests for information regarding the offer should be directed to National Bank Financial Inc. as the dealer manager at the Exchange Tower, 130 King St. West, Toronto, Ont., M5X 1J9, telephone: 1-416-524-9514, or Computershare, as the depositary, at: corporateactions@computershare.com.

About CI Financial Corp.

CI Financial is a diversified global asset and wealth management corporation operating primarily in Canada, the United States and Australia. Founded in 1965, CI Financial has developed world-class portfolio management talent, extensive capabilities in all aspects of wealth planning, and a comprehensive product suite. CI Financial manages and advises on approximately $420.7-billion in client assets (as at Oct. 31, 2023).

We seek Safe Harbor.