Fact Sheet (q1 2025 fact sheet acc)

FACT SHEET

First Quarter 2025

About iA Financial Group

iA Financial Group is one of the largest insurance and wealth management groups in Canada, with operations in the United States. Founded in 1892, it is an important Canadian public company and is listed on the Toronto Stock Exchange under the ticker symbols IAG (common shares).

First Quarter Highlights

› Founded in 1892

› Listed on the TSX in 2000

› More than 5.4 millions clients

› More than 10,000 employees

› $264 billion in assets

› More than 50,000 representatives

Share Information (As at March 31, 2025)

› Ticker: IAG (TSX)

› Share price for last 12 months

(high/low/close): $141.88 / $80.95 / $136.66

› Market capitalization: 12.7 billion

› Dividend paid per common share: $0.9000

› Weighted average of outstanding shares diluted: 93,258,297

	Q1/2025	Q1/2024
› Net income attributed to common shareholders	$186M	$233M
› Core Earnings†	$273M	$243M
› EPS(diluted)	$1.98	$2.34
› Core EPS(diluted)††	$2.91	$2.44
› ROE1 (trailing twelve months)	13.0%	10.9%
› Core ROE(trailing twelve months)††	16.1%	14.6%
› Solvency ratio2(as at March 31, 2025)	132%	142%
› Net Premiums, Premium Equivalents & Deposits3	$5,787M	$4,879M
› Assets under management and administration3	$264.0B	$229.3B

"After a solid performance in 2024, we continued to show strong momentum entering 2025 across all business units. The sales and earnings growth seen in both Canada and the U.S. in the first quarter underscores the strength of our distribution network and diversified business model, positioning us strongly to achieve our new financial targets introduced at our Investor Event in February. In Canada, we maintained our strong sales position in our foundation businesses, comprising individual insurance, dealer services and segregated funds. In the U.S, Individual Insurance reported solid results fueled by organic growth and acquisitions and Dealer Services delivered the gradual improvement in earnings we had anticipated, reflecting our disciplined focus on execution.»

Denis Ricard, President and CEO of iA Financial Group

1. Consolidated net income attributed to common shareholders divided by the average common shareholders' equity for the period.

2. The solvency ratio is calculated in accordance with the Capital Adequacy Requirements Guideline - Life and Health Insurance (CARLI) mandated by the Autorité des marchés financiers du Québec (AMF). This financial measure is exempt from certain requirements of Regulation 52-112 respecting Non-GAAP and Other Financial Measures Disclosure according to AMF Blanket

   Net Income Attributed to Common Shareholders

   ($Million)

   220

   283

   206

   942

   231

Order No. 2021-PDG-0065

1. Net premiums, premium equivalents & deposits, Assets under management and assets under administration are supplementary financial measures. Refer to the «Non-IFRS and Additional Financial Measures» section of the Management's Discussion and Analysis for the period ending March 31, 2025, for more information.

Solvency Ratio (Regulatory minimum ratio: 90%)

(% and at end of period)

Q4

Q3

Q2

173	151		270		233	186
2021	2022		2023		2024	2025

Q1

830

817

229

215

222

248

55

196

769

2021*

2022

2023

2024

Q1-2025

Core Earnings†

* Ratio calculated under the IFRS 4 accounting standard and with the capital standard applicable in 2022. ($Million)

Credit ratings

iA Financial Corporation Inc.

Credit Agency	S&P	DBRS
Issuer credit rating	A	A

Industrial Alliance Insurance and Financial Services Inc

Credit Agency	S&P	DBRS	A.M. Best
Financial strength rating	AA-	AA (low)	A+ (Superior)

† This item is a non-IFRS measure; see the "Non-IFRS and Additional Financial Measures" section of the Management's Discussion and Analysis for the period ending March 31, 2025, for more information.

†† This item is a non-IFRS ratio; see the "Non-IFRS and Additional Financial Measures" section of the Management's Discussion and Analysis for the period ending March 31, 2025, for more information.

Q4

Q3

Q1	192	210	217	243	273
	2021	2022	2023	2024	2025

Q2

896

955

956

1,074

Net Premiums, Premium Equivalents & Deposits

Business units ($Million)

INSURANCE, CANADA

Individual Insurance

Group Insurance

• Employee Plans

• Special Markets Solutions

Q1/2025

Q1/2024

99

89

70

108

30

106

WEALTH MANAGEMENT

Individual Wealth Management

Group Savings and Retirement

US OPERATIONS (in USD)

• Individual Insurance

• Dealer Services

841

918

68

306

42

248

($Million)

Sales Growth1

5,747

4,936

20,424

4,163

4,092

16,623

Q4

Q3

4,009

3,352

15,485

4,143

3,937

16,804

Dealer Services	163	148
General Insurance (iA Auto and Home)	129	114

Q2	3,946		3,679		4,221		4,862
Q1	4,422		4,445		4,503		4,879		5,787
	2021		2022		2023		2024		2025

- Segregated funds	1,939	1,278
- Mutual funds	647	486
- Insured annuities and other savings products	467	581

Assets Under Management & Administration

($Billion and at end of period)

1 Sales is a supplementary financial measure. Refer to the "Non-IFRS and Additional Financial Measures" section of the Management's Discussion and Analysis for the period ending March 31, 2025, for more information..

Assets under management

Assets under administration

221.2

2021

197.4

2022

218.9

2023

259.4

2024

264.0

Q1-2025

Market Shares

	New Business2		In force3
Business units	Rank	Market Share	Rank	Market Share
Individual Insurance	4th	13.4%	4th	12.2%
Group Insurance (Employee Plans)4	9th	4.2%	6th	4.1%
Individual Wealth Management
- Segregated funds	1st	40.1%	3th	23.2%
- Mutual funds	18th	-	19th	1.1%
Group Savings and Retirement	5th	9.4%	5th	4.7%

2 First-year annualized minimum premiums (life, disability and critical illness) for Individual Insurance, gross sales for Individual Wealth Management and first-year annualized premiums for other sectors

3 Premiums for Individual Insurance (life only) and Group Insurance, assets for other sectors

4 Market of 50 to 1,000 employees

Source: Latest available industry data from: CLHIA, Fraser Group, Investor Economics, IFIC and LIMRA

Debt Measures

Q1/2024		Q4/2024	Q1/2025
Financial leverage ratio* ††	14.3%	17.3%	14.8 %

(At end of period)

Note: Columns do not always add up due to rounding differences.

Quality of Investments

(As at March 31, 2025)

Loans

7.5%

› Bonds rated BB and lower: 0,70% of bond portfolio

› Real estate occupancy rate: 85.8%

Stocks

3.3%

12.3% Investment properties

Cash and short-term investments

3.9%

Other

2.5%

Bonds

* Calculated as: Debentures, preferred shares issued by a subsidiary and other equity instruments/(Capital structure + post-tax contractual service margin (CSM)† ).

Calendar of Events

› May 7, 20251st quarter 2025 financial results (May 8, 2025: conference call with financial analysts and annual meeting)

› August 5, 20252nd quarter 2025 financial results (August 6, 2025:

conference call with financial analysts)

› November 4, 20253rd quarter 2025 financial results (November 5, 2025:

conference call with financial analysts)

› February 17, 20264th quarter 2025 financial results (February 18, 2026:

70.5%

Total Invested Assets

$45.7B

conference call with financial analysts)

† This item is a non-IFRS measure; see the "Non-IFRS and Additional Financial Measures" section of the Management's Discussion and Analysis for the period ending March 31, 2025, for more information.

†† This item is a non-IFRS ratio; see the "Non-IFRS and Additional Financial Measures" section of the Management's Discussion and Analysis for the period ending March 31, 2025, for more information.

Head Office

iA Financial Group

1080 Grande Allée West

PO Box 1907, Station Terminus Quebec City, QC G1K 7M3 Tel.: 418-684-5000

Toll-free: 1-800-463-6236

Transfer Agent

For questions regarding share accounts, dividends, changes of address and ownership and other related matters

Computershare Investor Services Inc. Tel.: 514-982-7555

Toll-free: 1-877-684-5000

[email protected]

Investor Relations

F95-41A(25-05) ACC

For analysts, portfolio managers and other investors requesting financial information 1080 Grande Allée West

PO Box 1907, Station Terminus Quebec City, QC G1K 7M3

Tel.: 418-684-5000 ext. 105862

Toll-free: 1-800-463-6236 ext. 105862

Fax: 418-684-5192

ia.ca [email protected]

iA Financial Group is a business name and trademark of iA Financial Corporation Inc. and Industrial Alliance Insurance and Financial Services Inc.

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iA Financial Corporation Inc. published this content on May 08, 2025, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on May 08, 2025 at 14:50 UTC.