Mr. Nini Krishnappa reports

IGM FINANCIAL ANNOUNCES $300 MILLION OFFERING OF DEBENTURES

IGM Financial Inc. has priced the issuance of $300-million principal amount of debentures. The debentures will be offered through a group of agents led by BMO Capital Markets and RBC Capital Markets.

The debentures will be dated May 26, 2023, and will mature on May 26, 2053. These debentures will bear interest at a rate of 5.426 per cent per annum payable semi-annually in arrears in equal instalments on May 26 and Nov. 26 of each year, beginning on Nov. 26, 2023. The debentures have been priced to provide a yield to maturity of 5.426 per cent.

The offering of the debentures is expected to close on or about May 26, 2023. The net proceeds will be used by IGM Financial to finance a portion of the purchase price payable on June 2, 2023, in connection with the previously announced acquisition of a 20.5-per-cent equity interest in Rockefeller Capital Management and for general corporate purposes.

The debenture offering will be made pursuant to a prospectus supplement to IGM Financial's short form base shelf prospectus dated Dec. 7, 2022. The prospectus supplement, once filed, will be available on SEDAR.

About IGM Financial Inc.

IGM Financial is one of Canada's leading diversified wealth and asset management companies with approximately $263-billion in total assets under management and advisement at April 30, 2023. The company provides a broad range of financial planning and investment management services to help more than two million Canadians meet their financial goals. Its activities are carried out principally through IG Wealth Management, Mackenzie Investments and Investment Planning Counsel. IGM Financial is a member of the Power Corp. group of companies.

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