Ms. Ingrid Card reports

SAGICOR FINANCIAL CAUTIONS INVESTORS REGARDING BARBADOS STOCK TRADING COMPANY LLC MINI-TENDER OFFER FOR SHARES

Sagicor Financial Company Ltd. has been notified of an unsolicited mini-tender offer made by Barbados Stock Trading Company LLC (BSTC) to purchase up to 500,000 Sagicor common shares, or less than 0.37 per cent of the common shares outstanding, at a price of $3.75 (U.S.)($5.37 (Canadian) (1) per common share. BSTC's mini-tender offer indicates that the offer price may be settled in a shareholder's local currency.

Sagicor is in no way associated with BSTC and does not recommend or endorse acceptance of this unsolicited offer.

The unsolicited offer represents a discount of approximately 29.62 per cent below the closing price of Sagicor's common shares on the Toronto Stock Exchange on March 24, 2025, the last trading day before the mini-tender offer was commenced, and a discount of approximately 32.03 per cent to the closing price of Sagicor's common shares on the TSX on May 2, 2025 (1). The common shares do not trade on a recognized stock exchange in the United States.

Mini-tender offers are designed to seek less than 5 per cent of a company's outstanding shares, avoiding disclosure and procedural requirements applicable to most bids under Canadian and U.S. securities regulations. Securities regulators have expressed serious concerns about mini-tender offers. To read more about the risks of mini-tender offers, please review the Canadian Securities Administrators' comments on the matter.

Shareholders should carefully review the BSTC offer documents and current market price for Sagicor common shares and consult their investment advisers regarding any offer they may receive and review with their advisers all options for their investment in Sagicor common shares. According to BSTC's offer documents, Sagicor shareholders who have already tendered their common shares can withdraw their shares no more than 14 days after the date of delivery of their tender form to BSTC by following the procedure described in the offer documents.

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

About Sagicor Financial Company Ltd.

Sagicor Financial is a leading financial services provider with over 180 years of history in the Caribbean, over 90 years of history in Canada and a growing presence in the United States with over 70 years of history. Sagicor offers a wide range of products and services, including life, health, and general insurance, banking, pensions, annuities, investment management, and real estate.

(1) Based on a conversion of the offer price into $5.37 (Canadian) at the spot rate published by the Bank of Canada for March 24, 2025, the last trading day prior to the offer being made.