Mr. Damon Murchison reports

IGM FINANCIAL ANNOUNCES ADDITIONAL INVESTMENT IN WEALTHSIMPLE TO SUPPORT ACCELERATED GROWTH

IGM Financial Inc. has released details related to Wealthsimple's announcement of an equity financing round of up to $425-million.

The transaction consists of a $300-million primary offering and a secondary offering of up to $125-million. The transaction is led by GIC. Other investors include IGM, Power Corp. of Canada, Iconiq, CPP Investments and Inovia. The financing will support Wealthsimple's next phase of growth, including product expansion and continued investment in its technology infrastructure.

As a result of the announcement, IGM will increase the fair value of its investment in Wealthsimple by $341-million, or 13 per cent ($1.49 per IGM share), from $2.59-billion to $2.93-billion. Further:

• IGM will invest an additional $96-million in Wealthsimple.
• Following the close of the transaction, IGM will hold a 25.1-per-cent interest with a value of $3.03-billion, after the additional investment, representing a total value of $13.20 per IGM share.
• IGM will continue to be the single largest shareholder of Wealthsimple.

"Wealthsimple continues to reshape how Canadians engage with financial services, and its progress over the past year underscores the strength of its platform and the opportunity ahead," said Damon Murchison, president and chief executive officer, IGM Financial and IG Wealth Management. "Our additional investment reflects our confidence in the business, its leadership and its long-term growth potential. As Wealthsimple's single largest shareholder, we are proud to continue supporting its ambition while creating meaningful value for IGM shareholders."

The transaction highlights the value of IGM's strategy of investing in leading wealth and asset management businesses with strong growth potential. Its strategic holdings, including Wealthsimple, Rockefeller Capital Management, China Asset Management Co. Ltd. and Northleaf Capital Partners, expand IGM's growth opportunities alongside IG Wealth Management and Mackenzie Investments, providing additional sources of earnings and diversification over the long term.

The transaction is subject to customary closing conditions and is expected to close in the fourth quarter of 2026.

About IGM Financial Inc.

IGM Financial is a leading Canadian diversified wealth and asset management organization with approximately $346-billion in total assets under management and advisement as of Sept. 30, 2026. The company is committed to bettering the lives of Canadians by better planning and managing their money. IGM's activities are carried out principally through IG Wealth Management and Mackenzie Investments, and are complemented by strategic positions in wealth managers Rockefeller Capital Management and Wealthsimple and asset managers ChinaAMC and Northleaf Capital. These strengthen IGM's capabilities, reach and diversification. IGM is a member of the Power Corp. group of companies.

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