Sun Life Declines to Redeem Preferred Shares Series 10R and 11QR

Sun Life Financial Inc. has announced that it will not exercise its right to redeem its currently outstanding Class A Non-Cumulative Rate Reset Preferred Shares Series 10R (the "Series 10R Shares") and Class A Non-Cumulative Floating Rate Preferred Shares Series 11QR (the "Series 11QR Shares").

The decision means the shares will not be redeemed on their respective redemption dates, September 15, 2026. For shareholders, this allows them to continue holding these preferred shares, and Sun Life intends to continue paying dividends on them.

Holders of these shares now have the option to convert them into new series of preferred shares. This conversion is voluntary, and shareholders are not obligated to make the change. The company stated that the decision not to redeem does not impact its financial position.

Further details will be provided to shareholders. Sun Life advises shareholders to consult with their financial advisors regarding the implications of this decision on their investments.