Mr. Tom Murphy reports

SUN LIFE APPOINTS BRENNAN KENNEDY AS NEW CHIEF ACTUARY

Sun Life Financial Inc. has appointed Brennan Kennedy as senior vice-president and chief actuary, effective Oct. 4, 2025. Mr. Kennedy is currently Sun Life's senior vice-president of global asset liability management.

In his new role, Mr. Kennedy will provide leadership, direction and vision for the actuarial functions across the organization with a focus on talent development, leading-edge technology solutions, innovations and thought leadership in support of Sun Life's strategic imperatives and client impact strategy. He will partner closely with business groups and corporate functions to apply actuarial best practices to valuation, reporting, product development and pricing activities to ensure compliance with regulatory requirements and industry standards.

Mr. Kennedy is a seasoned leader with more than 26 years of deep experience and expertise at the organization. He has held progressively senior roles across the business in actuarial, risk management, finance and asset liability management functions since joining in 1998.

Mr. Kennedy holds a bachelor of mathematics from the University of Waterloo and is a fellow of the Canadian Institute of Actuaries and the Society of Actuaries.

"I'm thrilled to have Brennan step into this critical role. I'm confident his leadership will continue to drive success for Sun Life," said Tom Murphy, executive vice-president and chief risk officer. "His deep expertise and forward-thinking approach will be instrumental in supporting our continued growth and strengthening our actuarial capabilities as the industry evolves."

Mr. Kennedy succeeds Kevin Morrissey, senior vice-president and chief actuary, who will retire after an illustrious 37-year career with Sun Life on Oct. 3, 2025. Over the next few months, Mr. Morrissey will support Mr. Kennedy in his on-boarding to the chief actuary role until his retirement.

Mr. Morrissey began his career with Mutual Life of Canada in 1988, which eventually became Clarica, which was later acquired by Sun Life in 2002.

Throughout his tenure, Mr. Morrissey progressed through various leadership roles across finance, risk management and actuarial. He has served in his current role of senior vice-president and chief actuary since 2016.

"On behalf of our board of directors and our global leadership team, I'd like to thank Kevin for his leadership and tremendous contributions to Sun Life and wish him well in his retirement," added Mr. Murphy. "For the past two decades, Kevin has proved to be a key partner in helping Sun Life navigate various external economic challenges and maintain its resiliency. As the guiding light for our global actuarial community, he has always led by example."

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, 2025, Sun Life had total assets under management of $1.55-trillion.

Sun Life trades on the Toronto, New York and Philippine stock exchanges under the ticker symbol SLF.