What we do, and how we do it, matters: Sun Life releases 2023 Sustainability Report

Report describes company's sustainability actions and impacts which help Clients achieve lifetime financial security and live healthier lives.

TORONTO, March 26, 2024 /PRNewswire/ - Sun Life Financial Inc. (TSX: SLF) (NYSE: SLF) today released its 2023 Sustainability Report and 2023 Public Accountability Statement detailing the impact it has had on society and the environment through its sustainability actions.

Sun Life's sustainability progress is attributed, in part, to how the company thinks about sustainability.

"Since launching our Purpose-led sustainability plan five years ago, we've more closely connected the concept of sustainability to our core business. It's become a part of who we are and who we want to be," said Alanna Boyd, Senior Vice-President and Chief Sustainability Officer, Sun Life. "The impact of this is far reaching. From our talent and culture to our business strategies, operations, investments, and philanthropy, we're driving sustainable change for Clients and society by fostering more innovation, building upon our robust disclosures and data, and improving measurable outcomes."

Sun Life's sustainability strategy ensures that every business group has responsibility and accountability for sustainably delivering on its Purpose of helping Clients achieve lifetime financial security and live healthier lives.

What we do, and how we do it, matters.

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2023 sustainability highlights

2.4 million lives covered through affordable insurance policies issued in Asia¹
$52.4 million committed to the fight against diabetes globally since 2012, including $5.7 million in 2023
$77 billion portfolio value of investments in assets and businesses that support the transition to a low-carbon and more inclusive economy²
Completed Phase 2 of the Progressive Aboriginal Relations certification in Canada

Boyd added, "We have taken significant steps along our sustainability journey, and there is still more work for us to do. We'll continue to create opportunities that enable us to address the needs of Clients and underserved groups in our communities while also building our collective resilience to climate change."

For more information about Sun Life's sustainability efforts, visit sunlife.com/sustainability.

All data as of December 31, 2023, unless otherwise noted.

About Sun Life

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 December 31, 2023, Sun Life had total assets under management of $1.40 trillion. For more information, please visit www.sunlife.com.

Sun Life Financial Inc. trades on the Toronto (TSX), New York (NYSE) and Philippine (PSE) stock exchanges under the ticker symbol SLF.

Note to editors: All figures in Canadian dollars.

Footnotes:
¹	Affordable insurance products help people in the mass market (including lower-income segments) meet risk protection needs at an accessible price point. The criteria for a product to be considered affordable insurance varies by country and is based on factors such as: insurance premium amount relative to average income, coverage period, underwriting requirements and/or government regulation.

²	Sustainable investment assets under management meet one or more of the criteria for investments based on ICMA Green Bond Principles, ICMA Sustainability Bond Principles, GRESB Real Estate Benchmark, and/or PRI Impact Investing Market Map. Where issuers do not obtain a third-party opinion or provide an internal opinion on their issuance, our investment professionals apply judgement to assess whether the use of proceeds meets the standards set out in the ICMA principles. Assets included may not align with criteria in the Sun Life Sustainability Bond Framework. Does not include all holdings in companies that may be defined as sustainable under other taxonomies.



Media Relations Contact:	Investor Relations Contact:
Kim Race	David Garg
Director, Corporate Communications	Senior Vice-President, Capital
T: 416-779-4574	Management and Investor Relations
kim.race@sunlife.com	T. 416-408-8649
	david.garg@sunlife.com