Ms. Laura Torchia reports

SLGI ASSET MANAGEMENT INC. PROPOSES CHANGES TO CERTAIN MUTUAL FUNDS

Sun Life Financial Inc.'s SLGI Asset Management Inc. intends to make changes to certain funds through a fund merger and an investment objective change. The proposed changes are designed to streamline the SLGI Asset Management platform for advisers and investors.

Investment objective change

SLGI Asset Management is proposing to change the investment objective of the Sun Life Amundi Emerging Markets Debt Fund. The change is subject to unitholder approval. If approved:

• The fund's investment objective will be to seek total return through investment in investment grade and non-investment grade debt securities of issuers located anywhere in the world;
• The fund will be renamed Sun Life MFS Global Core Plus Bond Fund, to better align the name of the fund with its new investment objective;
• The fund's subadvisers, currently Amundi (U.K.) Ltd. and Amundi Canada Inc., will be replaced with MFS Investment Management Canada Ltd.;
• Management fees will be reduced by 0.77 percentage points for Series A and 0.42 percentage points for Series F, reflected in the attached table.

Fund merger

Upon successful completion of the investment objective change, SLGI Asset Management intends to merge Sun Life Global Tactical Yield Private Pool into the fund, subject to unitholder approval. The proposed merger will be executed on a taxable basis.

Unitholder voting

The required unitholder approvals will be sought at special meetings to be held on or about May 31, 2024, for unitholders of record as of April 15, 2024. A notice-and-access document, which outlines the procedures for accessing the management information circular containing full details of the proposals, will be mailed on or about April 26, 2024, to unitholders of record on the record date. The management information circular will also be made available following the mailing date on SEDAR+. All costs and expenses associated with the mergers will be borne by SLGI Asset Management. Subject to these approvals, SLGI Asset Management will make the above proposed changes after the close of business on or about June 28, 2024.

About SLGI Asset Management Inc.

SLGI Asset Management is a subsidiary of Sun Life Financial. It offers Canadians a diverse lineup of mutual funds and innovative portfolio solutions, empowering them to pursue their financial goals at every life stage. SLGI brings together the strength of one of Canada's most trusted names in financial services, Sun Life, with some of the best asset managers from around the world to deliver a truly global investment platform. As of Dec. 31, 2023, SLGI Asset Management manages $36.1-billion on behalf of institutional and retail investors from coast to coast and is a member of the Sun Life group of companies.

About Sun Life Financial Inc.

Sun Life is a leading international financial services organization providing asset management, wealth, insurance and health solutions to individual and institutional Clients. Sun Life has operations in a number of markets worldwide, including Canada, the United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China, Australia, Singapore, Vietnam, Malaysia and Bermuda. As of Dec. 31, 2023, Sun Life had total assets under management of $1.40-trillion.