Mr. David Garg reports

SUN LIFE COMPLETES SECOND SUSTAINABILITY BOND OFFERING

Sun Life Financial Inc. has successfully completed the public offering in Canada of $500-million principal amount of Series 2023-1 subordinated unsecured 5.50-per-cent fixed/floating debentures due 2035. An amount equivalent to the net proceeds from the offering of the debentures will be used to finance or refinance, in whole or in part, new and/or existing green or social assets that meet the eligibility criteria set out under Sun Life's sustainability bond framework.

The debentures were sold under a pricing supplement dated June 27, 2023, issued pursuant to the company's short-form base shelf prospectus and its prospectus supplement each dated March 24, 2023, all of which are available on the SEDAR website for Sun Life.

About Sun Life Financial Inc.

Sun Life is a leading international financial service organization, providing asset management, wealth, insurance and health solutions to individual and institutional clients. Sun Life has operations in a number of markets worldwide, including Canada, the United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China, Australia, Singapore, Vietnam, Malaysia and Bermuda. As of March 31, 2023, Sun Life had total assets under management of $1.36-trillion.