Sun Life Announces Conversion Privilege of Class A Non-Cumulative Rate Reset Preferred Shares Series 10R and Class A Non-Cumulative Floating Rate Preferred Shares Series 11QR

Sun Life Announces Conversion Privilege of Class A Non-Cumulative Rate Reset Preferred Shares Series 10R and Class A Non-Cumulative Floating Rate Preferred Shares Series 11QR

TORONTO, Aug. 14, 2026 /PRNewswire/ -- Sun Life Financial Inc. (TSX: SLF) (NYSE: SLF) ("Sun Life") today announced that it does not intend to exercise its right to redeem its currently outstanding Class A Non-Cumulative Rate Reset Preferred Shares Series 10R (the "Series 10R Shares") nor its currently outstanding Class A Non-Cumulative Floating Rate Preferred Shares Series 11QR (the "Series 11QR Shares") on September 30, 2026. As a result, subject to certain conditions, the holders of Series 10R Shares have the right to convert all or part of their Series 10R Shares on a one-for-one basis into Series 11QR Shares, and the holders of Series 11QR Shares have the right to convert all or a part of their Series 11QR Shares on a one-for-one basis into Series 10R Shares, in each case on September 30, 2026. Holders of Series 10R Shares who do not exercise their right to convert their Series 10R Shares into Series 11QR Shares on such date will retain their Series 10R Shares, and holders of Series 11QR Shares who do not exercise their right to convert their Series 11QR Shares into Series 10R Shares on such date will retain their Series 11QR Shares.