Ms. Jen Collier reports

SUN LIFE U.S. AND CLARITEV WORK TO BOOST EFFICIENCY OF SUPPLEMENTAL HEALTH BENEFITS

Sun Life Financial Inc.'s Sun Life U.S., a leading provider of employee and government benefits, and Claritev, a health care technology, data and insights company, are working together to bring more efficiency to supplemental health coverage offered by self-financed employers. Claritev's machine-learning technology helps find diagnosis connections between employees' medical claims and supplemental health coverages -- which include critical illness, accident and hospital indemnity -- to help covered employees access the benefits they are eligible for.

"Bringing Claritev's services to self-funded clients will help connect the dots between health plans and supplemental health coverage, leading to more cohesion across employee benefits," said Joi Tillman, president, group benefits, Sun Life U.S. "With Claritev, we can take a more pro-active approach to helping employees get the payments they need when facing a major illness or injury."

Self-financed employers finance their own health plans and use a health insurer or third party administrator to administer their employees' medical claims. When a high-cost claim arises, many self-financed employers rely on stop-loss insurance to manage the risk. As one of the largest providers in the United States of medical stop-loss insurance, Sun Life is uniquely qualified to understand the continuing needs self-financed employers face when managing their health and benefit plans.

"We want to bring self-funded clients more capabilities and solutions that help their health plans work better for their employees," said Jen Collier, president, health and risk solutions, Sun Life U.S. "Claritev's innovative approach gives self-funded employers a strong tool to ensure Sun Life's supplemental health benefits meet employees where they are."

While employees are focused on managing their health needs following a medical event, accessing all available benefits is not always top of mind in the moment. Claritev's model enables Sun Life to pro-actively engage employees when they are eligible for supplemental health benefits, helping them receive greater financial support during a time of need.

"Accessing supplemental health benefits should be simple and seamless," said Jeff Caldwell, vice-president, sales, Claritev. "Claritev's technology helps identify eligible medical claims earlier, which can help Sun Life deliver a more streamlined supplemental health experience to brokers, employers and employees when it matters most."

Claritev offers a comprehensive solution that provides flexibility across medical plans. Once employees are enrolled in their supplemental health benefits, their medical claim data are reviewed on a continuing basis. Claritev's solution reviews claim data and helps identify employees eligible for supplemental health benefits. Sun Life then notifies clients' employees so they can file the appropriate claims. All processes are secure and HIPAA compliant, prioritizing privacy and protection for employees.

Claritev's capabilities are available to any self-financed employer offering Sun Life supplemental health coverage. The employer does not have to be a Sun Life stop-loss client.

The coverage is available for quoting by Sun Life representatives for policies effective Jan. 1, 2027, and later. Claritev is not available to Sun Life clients in New York.

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 March 31, 2026, Sun Life had total assets under management of $1.58-trillion.

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

Sun Life U.S. is one of the largest providers of employee and government benefits, helping approximately 48 million Americans access the care and coverage they need. Through employers, industry partners and government programs, Sun Life U.S. offers a portfolio of benefits and services, including dental, vision, disability, absence management, life, supplemental health, medical stop-loss insurance and health care navigation. Sun Life employs nearly 8,300 people in the U.S., including associates in its partner dental practices and affiliated companies in asset management. Group insurance policies are issued by Sun Life Assurance Company of Canada (Wellesley Hills, Mass.), except in New York, where policies are issued by Sun Life and Health Insurance Company (U.S.) (Lansing, Mich.).

About Claritev

Claritev a health care technology, data and insights company focused on delivering affordability, transparency and quality across the health care system. Led by deeply experienced associates, data scientists and innovators, Claritev provides technology-enabled solutions fuelled by decades of claims expertise. The company leverages advanced analytics and artificial intelligence to power a robust enterprise platform that delivers clear, actionable insights to support affordability, price transparency, and optimized network and benefits design. By supporting key stakeholders -- including payers, employers, patients, providers and third parties -- Claritev is dedicated to making health care more accessible and affordable for all.

Claritev serves more than 750 health care payers, over 100,000 employers, 60 million consumers and 1.4 million contracted providers.