Ms. Caroline Audet reports

INTACT FINANCIAL CORPORATION ANNOUNCES $150 MILLION PREFERRED SHARE OFFERING

Intact Financial Corp. has entered into an agreement with a syndicate of underwriters led by BMO Capital Markets and National Bank Capital Markets, pursuant to which the underwriters have agreed to purchase, on a bought deal basis, six million non-cumulative Class A shares, Series 13, from Intact for sale to the public at a price of $25 per Series 13 share, representing aggregate gross proceeds of $150-million.

The Series 13 shares will yield 5.50 per cent per annum, payable quarterly, as and when declared by the board of directors of the company. The Series 13 shares will not be redeemable prior to Dec. 31, 2030. On and after Dec. 31, 2030, Intact may, on not less than 30 nor more than 60 days of notice, redeem for cash the Series 13 shares in whole or in part, at Intact's option, at $26 per Series 13 share if redeemed on or after Dec. 31, 2030, and prior to Dec. 31, 2031, $25.75 per Series 13 share if redeemed on or after Dec. 31, 2031, and prior to Dec. 31, 2032, $25.50 per Series 13 share if redeemed on or after Dec. 31, 2032, and prior to Dec. 31, 2033, $25.25 per Series 13 share if redeemed on or after Dec. 31, 2033, and prior to Dec. 31, 2034, and $25 per Series 13 share if redeemed on or after Dec. 31, 2034, in each case together with all declared and unpaid dividends on such Series 13 shares up to but excluding the date of redemption.

The offering is expected to close on Nov. 12, 2025. The net proceeds are expected to be used by Intact for general corporate purposes.

The Series 13 shares will be offered in each of the provinces and territories of Canada under a prospectus supplement to the company's short form base shelf prospectus dated Jan. 15, 2024.

Access to the prospectus supplement, the base shelf prospectus and any amendments to the documents is provided in accordance with securities legislation relating to procedures for providing access to a shelf prospectus supplement, a base shelf prospectus and any amendment to the documents. The base shelf prospectus is, and the prospectus supplement will be (within two business days of the date hereof), accessible on SEDAR+. An electronic or paper copy of the prospectus supplement, the base shelf prospectus and any amendment to the documents may be obtained, without charge, from BMO Capital Markets Corp. at Brampton Distribution Centre, care of The Data Group of Companies, 9195 Torbram Rd., Brampton, Ont., L6S 6H2, by telephone at 905-791-3151, extension 4312, or by e-mail at torbramwarehouse@datagroup.ca, and in the United States by contacting BMO Capital Markets, attention: equity syndicate department, 3 Times Square (25th floor), New York, N.Y., 10036 (attention: equity syndicate), or from National Bank Capital Markets at 130 King St. West (fourth floor podium), Toronto, Ont., M5X 1J9, by telephone 416-869-8414 or by e-mail at NBF-Syndication@bnc.ca, and in the United States by contacting 65 E. 55th St., 8th Floor, New York, N.Y., 10022, by providing the contact with an e-mail address or address, as applicable. Prospective investors should read the base shelf prospectus and the prospectus supplement (when filed) in their entirety before making an investment decision.

About Intact Financial Corp.

Intact Financial is the largest provider of property and casualty (P&C) insurance in Canada, a leading specialty lines insurer with international expertise and a leader in commercial lines in the United Kingdom and Ireland. The business has grown organically and through acquisitions to almost $24-billion of total annual operating direct premiums written (DPW).

In Canada, Intact distributes insurance under the Intact Insurance brand through agencies and a wide network of brokers, including its wholly owned subsidiary, BrokerLink. Intact also distributes directly to consumers through the belairdirect brand and affinity partnerships. Additionally, Intact provides exclusive and tailored offerings to high-net-worth customers through Intact Prestige.

In the United States, Intact Insurance Specialty Solutions provides a range of specialty insurance products and services through independent agencies, regional and national brokers, wholesalers, and managing general agencies.

Across the United Kingdom, Ireland and Europe, Intact Insurance provides commercial and specialty insurance solutions through regional and national brokers, wholesalers and managing general agents. In Ireland, it also provides personal insurance direct to customers through the 123.ie brand.

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