Mr. Nini Krishnappa reports

NORMAL COURSE ISSUER BID APPROVED

IGM Financial Inc. has received regulatory approval respecting its intention to renew its normal course issuer bid (NCIB) and automatic securities purchase plan (ASPP) through the facilities of the Toronto Stock Exchange. The term of the NCIB will commence Dec. 23, 2024, and continue until Dec. 22, 2025, when the bid expires, or such earlier date as the corporation completes its purchases pursuant to the notice of intention filed with the TSX.

The corporation may purchase for cancellation, by means of open-market transactions through the facilities of the TSX and/or alternative Canadian trading systems, up to five million common shares, representing approximately 2.1 percent of the 238,038,544 common shares outstanding on Dec. 9, 2024.

The average daily trading volume for the six months ending Nov. 30, 2024, was 250,384 common shares. Consequently, daily repurchases on the TSX under the NCIB will be limited to 62,596 common shares, other than block purchase exceptions. Purchases will be at the prevailing market price at the time of acquisition. Any common shares purchased pursuant to the NCIB will be cancelled.

The ASPP provides standard instructions regarding how IGM Financial's common shares are to be purchased under its normal course issuer bid during certain predetermined trading blackout periods, subject to preestablished parameters. Outside of these predetermined trading blackout periods, purchases under the corporation's normal course issuer bid will be completed based upon management's discretion.

The ASPP constitutes an automatic plan for purposes of applicable Canadian securities legislation and has been reviewed by the TSX. Should the ASPP be materially varied, suspended or terminated prior to the expiry date, IGM Financial will issue a press release advising of such variation, suspension or termination, as the case may be.

Under its prior NCIB, the corporation received approval from the TSX to purchase up to three million common shares for the period of Dec. 21, 2023, to Dec. 20, 2024. The corporation had, as of Dec. 9, 2024, repurchased and cancelled 2,622,000 common shares at an average price of $38.3611 per share.

The corporation's board of directors has authorized the renewal of the NCIB and ASPP. The program will be used to acquire common shares to mitigate the dilutive effect of stock options issued under the corporation's stock option plan and for other capital management purposes.

About IGM Financial Inc.

IGM Financial is a leading Canadian diversified wealth and asset management organization with approximately $273-billion in total assets under management and advisement as of Nov. 30, 2024. The company is committed to bettering the lives of Canadians by better planning and managing their money. To achieve this, IGM provides a broad range of financial planning and investment management services to help approximately two million Canadians meet their financial goals. IGM's activities are carried out principally through IG Wealth Management and Mackenzie Investments, and are complimented by strategic positions in wealth managers Rockefeller Capital Management and Wealthsimple and asset managers ChinaAMC and Northleaf Capital. These strengthen IGM's capabilities, reach and diversification. IGM is a member of the Power Corp. group of companies.

We seek Safe Harbor.