Q1 2024 Investor presentation

Balanced & diversified business model2

Year-to-date at March 31, 2024

Group - Health &

Protection

29%

Individual -

Protection

29%

Wealth & asset

management

42%

Four Strategic Pillars

Our Purpose

Help Clients achieve lifetime financial security and live healthier lives

Our Values

Caring, Authentic, Bold, Inspiring, Impactful

Strategic Imperatives

• Develop deep Client relationships and drive outcomes through signature solutions, digital, and data
• Think and act more like a digital company
• Unleash our Talent & Culture strategy, including effective decision-making and talent models alongside BOLDER behaviours
• Deliver the value from past M&A in SLC Management, the U.S., and Asia; consider opportunistic investments to further grow capability and scale

5-year annualized total shareholder return2

Performance against medium-term financial objectives

At March 31, 2024

Sun Life

Canadian Lifecos

Traditional Asset

Managers

U.S. Lifecos

Canadian Banks

TSX

12.0%

13.8%

11.9%

11.0%

10.5%

10.0%

Increasing

financial security

• We aspire toincrease the lifetime financial security of our Clients, employees and communities
• We're increasingaccess to and use of insurance and wealth products, and empowering and educating people to improve financial security outcomes

Fostering

healthier lives

• We aspire to improve health and wellness outcomes for our Clients, employees and communities
• We're improving access to and use of health insurance and health care, and empowering people to navigate and manage their health journey to improve health outcomes

Building resilience to climate change

Advancing

sustainable investing

• We manage assets with materialESG factors embedded in our investment processes
• We offer our Clientssustainable investing opportunities
• We invest our own assets in ways that support alow-carbonand more inclusive economy

Increasing financial

security

Fostering healthier

lives

Advancing sustainable

investing

Building resilience to

climate change

Operating as a trusted

and responsible business

All metrics as at December 31, 2023, unless otherwise noted. Footnotes 1-7: Refer to slide 37.

Sun Life - Q1 2024

• 2.4 million lives covered through affordable insurance policies issued in Asia1
• Drove $2.4 billion in insurance coverage and $706 million in wealth deposits in Canada through proactive and personalized nudges from our digital coach, Ella
• Enhanced disability coverage options for physicians, dentists, nurses and other healthcare professionals by launching Sun Life for Healthcare Professionals in the U.S.
• Reached a milestone in the global fight against diabetes by surpassing$50 million in commitments since 2012
• Issued Sun Life'ssecond sustainability bond, raising $500 million to finance new and/or existing green or social assets2
• $3.3 billion in new sustainable investments in 2023, reaching 88% of our $20 billion sustainable investment goal by 20253
• Setfour interimnet-zerotargets for our general account investments4
• Launched theclimate change academy to educate employees globally on the effects of climate change and the actions they can take
• MaintainedCarbonNeutral®5company certification across our global operations
• Maintainedgender parity on our Board of Directors since May 2022; 25% of Board members self-identify as members of underrepresented groups6
• Introduced aSustainability Modifier to our Senior Executive Sun Share Plan, enhancing accountability for delivering on our sustainability commitments7

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