Ms. Alanna Boyd reports

WHAT WE DO, AND HOW WE DO IT, MATTERS: SUN LIFE RELEASES 2023 SUSTAINABILITY REPORT

Sun Life Financial Inc. has released its 2023 sustainability report and 2023 public accountability statement, detailing the impact it has had on society and the environment through its sustainability actions.

Sun Life's sustainability progress is attributed, in part, to how the company thinks about sustainability.

"Since launching our purpose-led sustainability plan five years ago, we've more closely connected the concept of sustainability to our core business. It's become a part of who we are and who we want to be," said Alanna Boyd, senior vice-president and chief sustainability officer, Sun Life. "The impact of this is far-reaching. From our talent and culture to our business strategies, operations, investments and philanthropy, we're driving sustainable change for clients and society by fostering more innovation, building upon our robust disclosures and data, and improving measurable outcomes."

Sun Life's sustainability strategy ensures that every business group has responsibility and accountability for sustainably delivering on its purpose of helping clients achieve lifetime financial security and live healthier lives.

2023 sustainability highlights:

• 2.4 million lives covered through affordable insurance policies issued in Asia;
• $52.4-million committed to the fight against diabetes globally since 2012, including $5.7-million in 2023;
• $77-billion portfolio value of investments in assets and businesses that support the transition to a low-carbon and more inclusive economy;
• Completed phase 2 of the progressive aboriginal relations certification in Canada.

Ms. Boyd added: "We have taken significant steps along our sustainability journey, and there is still more work for us to do. We'll continue to create opportunities that enable us to address the needs of clients and underserved groups in our communities while also building our collective resilience to climate change."

All data are as of Dec. 31, 2023, unless otherwise noted.

About Sun Life Financial Inc.

Sun Life is a leading international financial service 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.

Sun Life trades on the Toronto, New York and Philippine stock exchanges under the ticker symbol SLF.