Ms. Caroline Audet reports

INTACT FINANCIAL CORPORATION ANNOUNCES $300 MILLION MEDIUM TERM NOTE PRIVATE PLACEMENT

Intact Financial Corp. has agreed to issue $300-million aggregate principal amount of Series 16 unsecured medium-term notes by way of a private placement to accredited investors in Canada.

The notes will be direct unsecured obligations of Intact and will rank equally with all other unsecured and unsubordinated indebtedness of Intact. The notes will bear interest at a fixed annual rate of 4.645 per cent until March 21, 2055, and thereafter at a rate of 1.75 per cent over daily compounded CORRA (Canadian overnight repo rate average) until their maturity on March 21, 2060.

Intact may redeem the notes in whole or in part, at its option: (i) on or after March 21, 2030, to, but excluding, March 21, 2055, on payment of a redemption price equal to the greater of (a) the Canada yield price and (b) par; and (ii) on or after March 21, 2055, on payment of a redemption price equal to par, together, in each case, with accrued and unpaid interest to, but excluding, the date of redemption.

Intact intends to use the net proceeds from the private placement toward the repayment of Intact's outstanding $300-million Series 8 3.691 per cent unsecured medium-term notes due March 24, 2025.

The notes, offered on a best efforts basis through a syndicate co-led by CIBC Capital Markets and National Bank Financial Markets, are expected to be issued on or about March 21, 2025. The closing of the private placement is subject to certain customary conditions.

About Intact Financial Corp.

Intact Financial is the largest provider of property and casualty (P&C) insurance in Canada, a leading specialty lines insurer with international expertise and a leader in commercial lines in the United Kingdom and Ireland. The business has grown organically and through acquisitions to almost $24-billion of total annual operating direct premiums written (DPW).

In Canada, Intact distributes insurance under the Intact Insurance brand through agencies and a wide network of brokers, including its wholly owned subsidiary, BrokerLink. Intact also distributes directly to consumers through the belairdirect brand and affinity partnerships. Additionally, Intact provides exclusive and tailored offerings to high-net-worth customers through Intact Prestige.

In the United States, Intact Insurance Specialty Solutions provides a range of specialty insurance products and services through independent agencies, regional and national brokers, wholesalers, and managing general agencies.

Across the United Kingdom, Ireland and Europe, Intact provides personal, commercial and/or specialty insurance solutions through the RSA, 123.ie, NIG and FarmWeb brands.

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