An anonymous director reports

SUN LIFE REPORTS RESULTS OF CONVERSION PRIVILEGE OF CLASS A NON-CUMULATIVE RATE RESET PREFERRED SHARES SERIES 8R AND CLASS A NON-CUMULATIVE FLOATING RATE PREFERRED SHARES SERIES 9QR

One thousand four hundred of Sun Life Financial Inc.'s 6,217,331 Class A non-cumulative rate reset preferred shares, Series 8R, have been elected for conversion on June 30, 2025, on a one-for-one basis, into Class A non-cumulative floating rate preferred shares, Series 9QR, and 2,664,916 of its 4,982,669 Series 9QR shares have been elected for conversion on June 30, 2025, on a one-for-one basis into Series 8R shares. Consequently, on June 30, 2025, Sun Life will have 8,880,847 Series 8R shares and 2,319,153 Series 9QR shares issued and outstanding. The Series 8R shares and Series 9QR shares will be listed on the Toronto Stock Exchange under the symbols SLF.PR.G and SLF.PR.J, respectively.

Subject to regulatory approval, Sun Life may redeem all or any part of the outstanding Series 8R shares, at Sun Life's option, by the payment of an amount in cash for each share so redeemed of $25, together with all declared and unpaid dividends to the date fixed for redemption, on June 30, 2030, and on June 30 every five years thereafter. Subject to regulatory approval, Sun Life may redeem all or any part of the then outstanding Series 9QR shares, at Sun Life's option, by the payment of an amount in cash for each share so redeemed of: (i) $25, together with all declared and unpaid dividends to the date fixed for redemption in the case of redemptions on June 30, 2030, and on June 30 every five years thereafter; or (ii) $25.50, together with all declared and unpaid dividends to the date fixed for redemption in the case of redemptions on any other date.

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.