Ms. Marie-Annick Bonneau reports

IA FINANCIAL GROUP ANNOUNCES OFFERING OF $400 MILLION OF 4.131% FIXED/FLOATING UNSECURED SUBORDINATED DEBENTURES

iA Financial Corp. Inc. has arranged an offering of $400-million aggregate principal amount of 4.131 per cent fixed/floating unsecured subordinated debentures due Dec. 5, 2034.

The offering is expected to close on or about Dec. 5, 2024. The company intends to use the net proceeds from the sale of the debentures for general corporate purposes, which may include investments in subsidiaries and repayment of indebtedness.

The debentures will mature on Dec. 5, 2034. Interest on the debentures at the rate of 4.131 per cent per annum will be payable in arrears in equal semi-annual instalments on June 5 and Dec. 5, in each year, commencing on June 5, 2025, and continuing until Dec. 5, 2029. From Dec. 5, 2029, interest on the debentures will be payable at a rate per annum equal to daily compounded Canadian overnight repo rate average plus 1.35 per cent payable quarterly in arrears on the fifth day of each of March, June, September and December in each year, commencing on March 5, 2030.

The offering is being done on a best effort agency basis by a syndicate of agents led by National Bank Financial Markets, RBC Capital Markets and TD Securities Inc., as co-leads and bookrunners, and including BMO Capital Markets, CIBC Capital Markets, Scotiabank, iA Private Wealth Inc., Casgrain & Company Ltd., and UBS Investment Bank.

The debentures will be offered in each of the provinces of Canada under a shelf prospectus supplement to the company's short form base shelf prospectus dated April 25, 2024.

Access to the prospectus supplement, the shelf prospectus and any amendments to the documents is provided in accordance with securities legislation relating to procedures for providing access to a shelf prospectus supplement, a base shelf prospectus and any amendment to the documents. The shelf prospectus is, and the prospectus supplement will be (within two business days), accessible on SEDAR+.

An electronic or paper copy of the prospectus supplement, the shelf prospectus and any amendment to the documents may be obtained, without charge, from National Bank Financial Inc. by contacting Syndicate-Corp@nbc.ca, from RBC Dominion Securities Inc. by contacting torontosyndicate@rbccm.com or TD Securities by contacting TDCAN-Syndicate@tdsecurities.com, by providing the contact with an e-mail address or address, as applicable.

About iA Financial Corp. Inc.

iA Financial is one of the largest insurance and wealth management groups in Canada, with operations in the United States. Founded in 1892, it is an important Canadian public company and is listed on the Toronto Stock Exchange under the ticker symbol IAG (common shares).

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