Mr. Kevin Strain reports

SUN LIFE ANNOUNCES LEADERSHIP CHANGES FOR SUN LIFE CANADA

Sun Life Financial Inc. has made leadership changes to Sun Life Canada that will continue to drive the company's strong momentum. Jacques Goulet is assuming a new role as executive chair, Sun Life Canada, and Jessica Tan will succeed him as president, Sun Life Canada. These changes are effective Sept. 30, 2024.

In his new role, Mr. Goulet will support a smooth leadership transition and help deliver on key elements of the company's enterprise strategy. Mr. Goulet will also continue as the chair of the board of directors for Dialogue, Sun Life Canada's leading virtual-care business, and in his leadership role as chair of the board for the Canadian Life & Health Insurance Association.

Since joining Sun Life in 2018, Mr. Goulet has led the organization through significant growth and transformation. He is a purpose-driven leader focused on delivering innovation within the business and industry. In his time as president of Sun Life Canada, he has focused on helping clients to achieve lifetime financial security and live healthier lives through initiatives that include the creation of a client experience office, launch of Sun Life Health, and the launches of Sun Life One Plan and Prospr by Sun Life. Mr. Goulet has a passion for mental health, which is evident both through his activism in the business community to make mental health a priority in the workplace and his commitment to improving access to mental health care in Canada.

Ms. Tan brings extensive global experience in insurance and digital innovation to Sun Life Canada. She has spent her career in leadership roles across financial services and is widely recognized for her thought leadership and execution in digital transformation and health. Most recently, Ms. Tan was co-CEO (chief executive officer) of one of Asia's largest insurers, where she was also previously the group chief operating officer and chief investment officer. Prior to that, Ms. Tan was a partner at McKinsey, where she worked in over 13 countries. She holds a master's degree in engineering and computer science from the Massachusetts Institute of Technology.

"Jacques has built a culture at Sun Life that fosters creativity and challenges the team to go even further while leveraging an owner's mindset. His leadership has resulted in Sun Life delivering positive and sustainable impact in Canadians' lives. I look forward to working with him closely in his new role," said Kevin Strain, president and chief executive officer, Sun Life. "I am excited to have Jessica join Sun Life's executive team and lead the Sun Life Canada business. Jessica brings unique skills and capabilities to Sun Life and, most importantly, she is a great fit for our culture with a proven track record of having a client-focused mindset."

Ms. Tan is an active member of the global business community and has been recognized in Forbes's The World's 100 Most Powerful Women since 2019 and held a top-five ranking in Fortune's Most Powerful Women for five consecutive years (2019 to 2023). She sits on several global boards and advisory committees. Ms. Tan is passionate about health care and elderly home care, and has volunteered with the Singapore public health care ecosystem to help accelerate the use of technology and on-line health care services, as well as how to provide integrated wellness, medical and social services at scale for the elderly living at home in the community.

About Sun Life Financial Inc.

Sun Life is a leading international financial services 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 June 30, 2024, Sun Life had total assets under management of $1.46-trillion.