Mr. Pierre Picard reports

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

iA Financial Corp. Inc.'s iA Financial Group today closed its previously announced offering of $400-million aggregate principal amount of 4.131-per-cent fixed/floating unsecured subordinated debentures due Dec. 5, 2034.

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 CORRA 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. Subject to prior regulatory approval, the company may redeem the debentures, in whole or in part, on or after Dec. 5, 2029.

The debentures have been assigned a rating of "A (low)" by DBRS Ltd. and "A-" by S&P Global Ratings, a division of S&P Global Inc.

The debentures were offered through a syndicate of agents led by National Bank Financial Markets, RBC Capital Markets and TD Securities, 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 were issued under a prospectus supplement dated Dec. 2, 2024, to the short form base shelf prospectus dated April 25, 2024. Details of the offering are set out in the prospectus supplement which is available on the SEDAR+ website and on the company's website.

About iA Financial Group

iA Financial Group 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).

iA Financial Group is a business name and trademark of iA Financial Corp. Inc. and Industrial Alliance Insurance and Financial Services Inc.