Q2'23 financial & operating results For the period ended June 30, 2023 In this presentation, Sun Life Financial Inc. ("SLF" or "SLF Inc."), its subsidiaries and, where applicable, its joint ventures and associates are referred to as "we", "us", "our", "Sun Life" and the "Company". Reported net income (loss) refers to Common shareholders' net income (loss) determined in accordance with IFRS. Note to Readers: 2022 Restated Results on Adoption of IFRS 17 and IFRS 9 Non-IFRS financial measures Drivers of earnin ...

CANADIAN RESIDENTS PARTICIPATING IN THE SHARE ACCOUNT Shareholders holding shares in the Canadian Share Account can sell their shares for $15 plus 3 cents per share. Complete Form A on the front of your Share Ownership Statement, tear it off and return it by mail to TSX Trust Company. For more information call TSX Trust Company at 1 877 224-1760. Sun Life Reports Second Quarter 2023 Results Sun Life Financial Inc. ("SLF Inc."), its subsidiaries and, where applicable, its joint ventures and associates are co ...

1 Represents the respective change across all equity markets as at March 31, 2023 and December 31, 2022. Assumes that actual equity exposures consistently and precisely track the broader equity markets. Since in actual practice equityrelated exposures differ from broad market indices (due to the impact of active management, basis risk, and other factors), realized sensitivities may differ significantly from those illustrated above. Sensitivities include the impact of re-balancing equity hedges for hedging p ...

Financial Data and Key Metrics - Net fixed income inflows were approximately $1 billion in the quarter [1] - Individual protection earnings increased by $40 million, driven by premium growth and higher investment earnings [2] - Underlying ROE for the quarter was 17.3%, trending towards the medium-term objective of 18%-plus [38] - SLF LICAT ratio was 148%, up 18 points from the prior quarter, including 12 points from the transition to IFRS 17 and 6 points of organic capital generation [26] - Reported net income for the quarter was $806 million, up 21% from the prior year [90] Business Line Performance - Individual protection sales were up year-over-year, reflecting strong demand for par products [2] - Wealth and Asset Management businesses comprise 40% to 45% of earnings, with resilient results this quarter despite global equity market declines [25] - Group and health protection businesses comprise approximately 30% of earnings, with strong premium growth and favorable experience in Q1 [55] - Sun Life Asia achieved 24% overall sales growth and over 20% insurance sales growth in 5 of its markets, including the Philippines, Hong Kong, India, and international [12] - DentaQuest had strong business growth during the quarter, with significant Medicaid and commercial business wins [37] Market Performance - In Canada, earnings were up across all business types, reflecting higher investment income and realized investment gains [2] - In the U.S., underlying net income was $176 million, up $93 million from last year, driven by premium growth and favorable experience [75] - In Asia, underlying net income was $141 million, up 4% year-over-year on a constant currency basis [28] - Hong Kong sales were up significantly due to the reopening of the border with Mainland China and new product offerings [12] Strategic Direction and Industry Competition - The company is committed to sustainability, with a goal to achieve net zero greenhouse gas emissions by 2050 [29] - Sun Life is leveraging digital capabilities and product innovation to help clients achieve lifetime financial security [54] - The company is focused on increasing access to healthcare and wellness solutions, with partnerships like AbleTo and GoodPath [34] - Sun Life is recognized for its commitment to diversity, equity, and inclusion, and was named among America's best employers for diversity [7] Management Commentary on Operating Environment and Future Outlook - The company is confident in its diversified and capital-light business mix, strong capital position, and prudent approach to risk management [73] - Sun Life remains excited about growth opportunities in Asia as markets reopen following pandemic restrictions [33] - The company expects to continue delivering strong results, with a focus on client needs, pricing, and risk management [56] Other Important Information - Sun Life completed the acquisition of a 51% interest in Advisors Asset Management and is developing alternative products for high net worth individuals [32] - The company introduced the Sun Life One Plan digital tool to over 750,000 Canadian GRS clients, with nearly 100,000 financial roadmaps created [6] - Sun Life Health Navigator powered by Pinnacle Care is providing personal care navigation services to help members access timely and quality care [71] Q&A Session Summary Question: Capital optimization and its impact on LICAT [18] - Capital optimization added 4 points to LICAT, primarily from ALM actions and reinsurance activities [143] Question: Commercial real estate market impact on fundraising [18] - BGO expects to raise a meaningful amount of money this year, despite a more difficult fundraising environment [162] Question: U.S. group side decline in dental underlying earnings [77] - The decline in dental underlying earnings was due to seasonality and higher claim amounts, with DentaQuest contributing positively [61] Question: Capital deployment priorities [160] - The priority for capital deployment remains unchanged, with a focus on dividends, organic growth, M&A, and buybacks [161] Question: CSM balance and amortization [135] - CSM amortization is expected to remain relatively stable, with growth in new business CSM in the mid to low-double digit range [124] Question: Investment activity gains and IFRS 17 impact [86] - Investment activity gains under IFRS 4 will be recognized over time through investment income under IFRS 17 [154] Question: U.S. segment ROE increase [104] - The increase in U.S. segment ROE was driven by improved margins in the stop-loss business and the integration of DentaQuest [170] Question: Commercial mortgage book exposure to office space [103] - The company has repositioned its real estate portfolio, reducing office exposure and increasing industrial exposure, with no mortgages in arrears [10]

"We started 2023 with strong results driven by our execution capabilities and growth in our health and protection businesses, highlighting the resilience of our business mix. We generated strong growth in both health and protection sales, which reinforces the importance Clients continue to place on health and financial security," said Kevin Strain, President and CEO of Sun Life. "This is Sun Life's first quarter reporting under IFRS 17 and IFRS 9. A special thank you to all of the Sun Lifers involved in the ...

Sun Life Financial, Inc. (NYSE:SLF) Q4 2022 Earnings Conference Call February 9, 2023 10:00 AM ET Company Participants Yaniv Bitton - VP, Head of IR & Capital Markets Kevin Strain - President, CEO & Director Manjit Singh - EVP & CFO Ingrid Johnson - President, Sun Life Asia Daniel Fishbein - President, Sun Life U.S. Jacques Goulet - President, Sun Life Canada Randolph Brown - CIO, SLC Management Kevin Morrissey - Chief Actuary & SVP Stephen Peacher - President, SLC Management Conference Call Participants Me ...

TORONTO, ON - (February 8, 2023) - Sun Life Financial Inc. (TSX: SLF) (NYSE: SLF) today announced its results for the fourth quarter and full year ended December 31, 2022. "Sun Life delivered strong fourth quarter results led by earnings growth in the U.S. and Canada," said Kevin Strain, President and CEO of Sun Life. "Our balanced and diversified business model supported solid 2022 results, including an 18% increase in insurance sales, strong performance from our U.S. and Canada businesses, and $21.5 billi ...

Sun Life Financial, Inc. (NYSE:SLF) Q3 2022 Earnings Conference Call November 3, 2022 10:00 AM ET Company Participants Yaniv Bitton - VP, Head of IR & Capital Markets Kevin Strain - President, CEO & Director Manjit Singh - EVP & CFO Kevin Morrissey - Chief Actuary & SVP Jacques Goulet - President, Sun Life Canada Daniel Fishbein - President, Sun Life U.S. Randolph Brown - CIO, SLC Management Michael Roberge - Chairman, MFS Mclean Budden Limited & Co-CEO, MFS Investment Management Stephen Peacher - President ...

CANADIAN RESIDENTS PARTICIPATING IN THE SHARE ACCOUNT Shareholders holding shares in the Canadian Share Account can sell their shares for $15 plus 3 cents per share. Complete Form A on the front of your Share Ownership Statement, tear it off and return it by mail to TSX Trust Company. For more information call TSX Trust Company at 1 877 224-1760. Sun Life Reports Third Quarter 2022 Results Sun Life Financial Inc. ("SLF Inc."), its subsidiaries and, where applicable, its joint ventures and associates are col ...

Sun Life Financial Inc. (NYSE:SLF) Q2 2022 Earnings Conference Call August 4, 2022 10:00 AM ET Â Company Participants Yaniv Bitton - Vice President, Head of Investor Relations & Capital Markets Kevin Strain - President and Chief Executive Officer Daniel Fishbein - President, U.S. Manjit Singh - Chief Financial Officer Ingrid Johnson - President, Sun Life Asia Kevin Morrissey - SVP, Chief Actuary Stephen Peacher - President, SLC Management Jacques Goulet - President, Sun Life Canada Michael Roberge - Preside ...