Ms. Caroline Drouin reports

IA FINANCIAL GROUP CAUTIONS INVESTORS REGARDING OCEHAN LLC "MINI-TENDER" OFFER AT A SIGNIFICANT DISCOUNT TO MARKET PRICE

iA Financial Corp. Inc. has been notified of an unsolicited mini-tender offer made by Ocehan LLC to purchase up to 50,000 common shares of iA Financial Group, representing approximately 0.05 per cent of the common shares outstanding, at a price of $93.30 per share, representing an aggregate purchase price of less than $5-million.

iA Financial Group is not associated with Ocehan, and does not recommend or endorse in any way the acceptance of this restricted tender offer.

iA Financial Group cautions shareholders that this offer was made at a price that is significantly lower than recent market prices for common shares of iA Financial Group on the Toronto Stock Exchange. Ocehan's unsolicited offer price of $93.30 per share represents a discount of approximately 29.84 per cent to the closing price of iA Financial Group's common shares on the Toronto Stock Exchange on May 6, 2025.

It should be noted that mini-tender offers are generally designed to obtain relatively small percentages of a company's outstanding shares, thereby avoiding the disclosure and procedural requirements applicable to most bids under Canadian securities regulations. Moreover, the Canadian Securities Administrators and other securities regulatory authorities have expressed serious concerns regarding mini-tender offers, including the possibility that investors might tender to such offers without understanding the offer price relative to the actual market price of their securities. For more information on the risks associated with mini-tender offers, shareholders and market participants may consult the CSA's long-standing guidance at CSA staff Notice 61-301 (Staff Guidance on the Practice of Mini-Tenders).

According to Ocehan's offer documents, iA Financial Group shareholders who have already tendered their shares may withdraw them by following the procedures described in those documents.

Shareholders should carefully review the Ocehan offer documents and current market price for iA Financial Group's shares, and consult their investment advisers regarding any offer they may receive and review with their advisers all options for investment in iA Financial Group shares.

iA Financial Group's transfer agent, Computershare, provides services directly to registered shareholders of iA Financial Group in Canada and can provide information on share account management, direct deposit of dividends, dividend reinvestment and share purchase plans. For more information, iA Financial Group shareholders can contact Computershare by e-mail at ia@computershare.com or by phone at toll-free 1-877-684-5000 or 514-982-7555.

iA Financial Group requests that a copy of this news release be included in any distribution of materials relating to Ocehan's mini-tender offer for iA Financial Group common shares.

About iA Financial Corp. Inc.

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).