Mr. Kurt MacAlpine reports

CI FINANCIAL AND MUBADALA CAPITAL ANNOUNCE COMPLETION OF TAKE-PRIVATE TRANSACTION BY MUBADALA CAPITAL

CI Financial Corp. and Mubadala Capital today completed, effective Aug. 12, 2025, the previously announced acquisition of CI, one of North America's leading diversified asset and wealth management companies. The $12.1-billion transaction marks a significant milestone in Mubadala Capital's growth ambitions, accelerating its expansion into private wealth management and cementing its position at the forefront of a rapidly evolving sector.

The transaction was completed by way of a statutory plan of arrangement under the Business corporations Act (Ontario). Pursuant to the terms of the arrangement, among other things, Mubadala Capital acquired all of the issued and outstanding common shares of the corporation for cash consideration equal to $32.00 per share, other than rollover shares (as defined below). The transaction valued CI's equity at approximately $4.7-billion and implies an enterprise value of approximately $12.1-billion.

With this transaction, Mubadala Capital now manages, advises and administers for clients and limited partners over $430-billion (U.S.) in combined assets through its asset managers and strategic partners, including CI and its affiliates. The scale underscores Mubadala Capital's vision to build a leading asset management platform that combines institutional-quality alternative investments across multiple asset classes and geographies, including private equity, credit, special opportunities with a focus on Brazil and other alternative investments, with comprehensive wealth management services.

"This is an exciting new chapter for CI. In Mubadala Capital we've found the perfect partner -- one who shares our aspirations and is committed to supporting the next phase of our journey," said Kurt MacAlpine, chief executive officer of CI. "Together, we are uniquely positioned to expand our capabilities, accelerate growth and unlock even greater value for the clients we serve."

CI's headquarters remains in Toronto and the firm continues to operate independently under its current corporate structure, strategy, brand names and management team, led by Mr. MacAlpine. The CEO is rolling all of his equity into the continuing company in partnership with Mubadala Capital, demonstrating his commitment to their shared vision for CI.

With the transaction now closed, CI gains access to Mubadala Capital's global network and capital resources to accelerate strategic initiatives and capitalize on new opportunities in the evolving asset and wealth management landscape in North America and globally. In particular, the transaction positions CI to continue the expansion of Corient, its United States subsidiary. The deal preserves Corient's unique private partnership model, which has been a key driver of its success.

"CI Financial is an incredible business that aligns closely with Mubadala Capital's long-term vision and strategy," said Hani Barhoush, chief executive officer and managing director of Mubadala Capital. "By combining CI's wealth management expertise and long-standing client relationships with our alternative investment capabilities and global reach, we are building a differentiated platform focused on the thoughtful stewardship of capital -- helping clients grow, preserve and manage wealth across generations, while driving innovation in how wealth is served."

The transaction builds on Mubadala Capital's deep expertise in building and scaling complex, multijurisdictional businesses and positions the firm to support CI's continued growth and innovation in serving clients.

Action required by CI shareholders

Registered shareholders of CI are reminded to submit a duly completed letter of transmittal and, as applicable, the certificate(s) representing their common shares, to Computershare investor Services Inc. Registered shareholders who have questions or require assistance can contact Computershare toll-free at 1-800-564-6253 in North America, or at 1-514-982-7555 outside North America, or by e-mail at corporateactions@computershare.com.

With the arrangement now complete, CI's common shares are expected to be delisted from the Toronto Stock Exchange (TSX) shortly after the date hereof; however, CI will remain a reporting issuer in each of the provinces of Canada.

For additional details regarding the arrangement, see CI's management information circular dated Jan. 7, 2025, a copy of which can be found under CI's issuer profile on SEDAR+.

Board of directors changes

In connection with completion of the arrangement, William Butt, Brigette Chang, Paul J. Perrow and Sarah Ward have resigned as directors of CI and were replaced by Samuel Merksamer, Murat Konuk and Glyn Barker. William Holland and Kurt MacAlpine will remain as directors of CI following completion of the arrangement.

Mr. Merksamer is an executive director at Mubadala Capital (since 2024). He previously was a partner at One investment Management from 2022 to 2024. Prior to then, Mr. Merksamer was a partner at SoftBank investment Advisers and a managing director at SB Management, an affiliate of SoftBank, from 2019 to 2022. From 2017 to 2019, he was a co-founder of Caligan Partners LP, an investment firm. Mr. Merksamer was a managing director of Icahn Capital LP, a subsidiary of Icahn Enterprises LP, from 2008 to 2016. Mr. Merksamer has an AB degree, economics, from Cornell University.

Mr. Konuk joined Mubadala Capital in 2023 and is a senior principal on the private equity team. Prior to joining Mubadala Capital, Mr. Konuk worked at a number of private equity firms, including Blackstone and Castle Harlan. Mr. Konuk graduated from Rice University with a BA in mathematical economic analysis.

Mr. Barker was managing partner of PricewaterhouseCoopers LLP UK (PwC) from 2006 to 2008 and then served as vice-chairman from 2008 to 2011. Mr. Barker joined PwC in 1975 and became an audit partner in 1987. He then established PwC's private equity-focused transactions services business and led the United Kingdom audit practice. Since leaving PwC in 2012, Mr. Barker has served as a director of several public companies including Aviva PLC (senior independent director), Berkeley Group Holdings PLC (chairman) and Transocean Ltd. Mr. Barker received his bachelor of science degree in economics and accounting from the University of Bristol in 1975 and is a chartered accountant.

Early warning disclosure of Mubadala Capital

Pursuant to the arrangement, MC Accelerate Co-invest LP, an entity managed by Mubadala Capital Management U.K. LLP, indirectly, via Accelerate Holdings Corp., acquired all of the CI shares (other than the CI shares held by Mr. MacAlpine, a director and the CEO of CI (the rollover shares)) for a price of $32.00 per CI share. MC Accelerate Holdings LP, a limited partnership that is an affiliate of the Mubadala investor, acquired all of the rollover shares in exchange for Class A interests of Holdings LP at an implied value of $32.00 per rollover share. The rollover shares have since been contributed to Accelerate Holdings Corp. In aggregate, the Mubadala investor paid $4,599,384,096 to acquire all of the CI shares.

Immediately prior to the completion of the arrangement, the Mubadala investor did not beneficially own, directly or indirectly, or exercise control or direction over, any CI shares or any securities convertible into or exercisable for CI shares. Following the completion of the arrangement on Aug. 12, 2025, and certain internal reorganization transactions completed immediately thereafter, the Mubadala investor owned, indirectly through Accelerate Holdings Corp., 144,228,914 CI shares, representing 100 per cent of the issued and outstanding CI shares.

The Mubadala investor acquired the CI shares to acquire indirect control over CI as a strategic, long-term investment. However, the Mubadala investor intends to review its investment in CI on a continuing basis and may, from time to time and at any time, and depending on market and other conditions, elect to sell all or a portion of its interest in CI or cause CI to divest a portion of its assets or reorganize the business of CI, depending on a number of factors, including general market and economic conditions and other factors and conditions the Mubadala investor deems appropriate.

In addition, Accelerate Holdings has obtained a final order of the Ontario Superior Court of Justice (Commercial List) approving a subsequent arrangement under section 182 of the Business Corporations Act (Ontario) pursuant to which CI will amalgamate with Accelerate Holdings, with CI continuing its existence as the surviving corporation and an indirect wholly owned subsidiary of the Mubadala investor and Accelerate Holdings ceasing to exist. It is expected that the amalgamation arrangement will be completed within the next week.

The Mubadala investor is a limited partnership existing under the laws of England and Wales, and its manager, Mubadala Capital Management U.K. LLP, is a limited liability partnership existing under the laws of England and Wales. Both have head offices located at 25 Berkeley Square, W1J 6HN, London, England.

An early warning report will be filed by the Mubadala investor under applicable Canadian securities laws and once filed will be available on CI's SEDAR+ profile. A copy of such report may also be obtained from:

Rodney Cannon

General counsel

United Arab Emirates 971-2-236-1003

United Kingdom 44-20-3650-3333

United States 1-929-562-5151

Advisers to the transaction

INFOR Financial served as exclusive financial adviser and Wildeboer Dellelce LLP served as legal adviser to the special committee of the CI board of directors. Stikeman Elliott LLP and Skadden, Arps, Slate, Meagher & Flom LLP served as legal advisers to CI. RBC Capital Markets was also an adviser to CI.

Jefferies Securities Inc. acted as lead financial adviser to Mubadala Capital and Blake, Cassels & Graydon LLP, and Latham & Watkins LLP served as legal advisers to Mubadala Capital. FGS Longview acted as strategic communications and public affairs adviser to Mubadala Capital. BMO Capital Markets was also an adviser to Mubadala Capital.

About CI Financial Corp.

CI Financial is a diversified global asset and wealth management company operating primarily in Canada, the United States and Australia. Founded in 1965, Toronto-based CI has developed world-class portfolio management talent, extensive capabilities in all aspects of wealth planning and a comprehensive product suite. CI operates in three segments: asset management, which includes CI Global Asset Management, which operates in Canada, and GSFM, which operates in Australia. Canadian wealth management, operating as CI Wealth, which includes CI Assante Wealth Management, Aligned Capital Partners, CI Assante Private Client, CI Private Wealth, Northwood Family Office, CI Coriel Capital, CI Direct investing, CI Direct Trading and CI investment Services. U.S. wealth management, which includes Corient Private Wealth, an integrated wealth management firm providing comprehensive solutions to ultrahigh-net-worth and high-net-worth clients across the United States.

CI's head office is located at 15 York St., second floor, Toronto, Ont., M5J 0A3, Canada.

About Mubadala Capital

Mubadala Capital is a global alternative asset management platform that manages, advises and administers for clients and limited partners over $430-billion in assets through its asset managers and strategic partnerships. A subsidiary of Mubadala Investment Company, Mubadala Capital combines the scale and stability of sovereign ownership with the agility and focus of a performance-driven global alternative asset management firm.

Mubadala Capital's wholly owned businesses invest across multiple asset classes and geographies, including private equity, special opportunities with a focus on Brazil and other alternative investments. Additionally, Mubadala Capital maintains a portfolio of strategic businesses and partnerships in private wealth, credit, insurance and real estate, amongst other areas.

Mubadala Capital has a team of over 200 professionals across five offices -- Abu Dhabi, New York, London, San Francisco and Rio De Janeiro -- and serves as a partner of choice to institutional and private investors seeking differentiated risk-adjusted returns across various private markets and alternative asset classes.

We seek Safe Harbor.