An anonymous director reports

IA FINANCIAL GROUP ANNOUNCES OFFERING OF $400 MILLION OF 5.685 per cent FIXED/FLOATING UNSECURED SUBORDINATED DEBENTURES

iA Financial Corp. Inc. has arranged an offering of $400-million aggregate principal amount of 5.685 per cent fixed/floating unsecured subordinated debentures due June 20, 2033.

The offering is expected to close on or about June 20, 2023. The company intends to use the net proceeds from the sale of the debentures for general corporate purposes, which may include investments in subsidiaries and repayment of indebtedness.

The debentures will mature on June 20, 2033. Interest on the debentures at the rate of 5.685 per cent per annum will be payable in arrears in equal semi-annual instalments on June 20 and Dec. 20, in each year, commencing on Dec. 20, 2023, and continuing until June 20, 2028. After June 20, 2028, interest on the debentures will be payable at a rate per annum equal to daily compounded Canadian overnight repo rate average plus 1.96 per cent payable quarterly in arrears on the 20th day of each of March, June, September and December in each year, commencing on Sept. 20, 2028.

The offering is being done on a best effort agency basis by a syndicate of agents led by RBC Capital Markets, BMO Capital Markets and Scotiabank, as co-leads and bookrunners, and including CIBC World Markets, National Bank Financial, TD Securities, iA Private Wealth Inc., Casgrain & Company Ltd. and UBS Securities Canada Inc.

The offering is being made under the short form base shelf prospectus dated April 5, 2022. Complete details of the offering are set out in the prospectus supplement dated June 15, 2023, which will be filed with the Canadian securities regulatory authorities and will be available on SEDAR and on the company's website.

About iA Financial Corp. Inc.

iA Financial is one of the largest insurance and wealth management groups in Canada, with operations in the United States. Founded in 1892, it is an important Canadian public company and is listed on the Toronto Stock Exchange under the ticker symbols IAG (common shares) and IAF (preferred shares).

We seek Safe Harbor.