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

SLF
  • Sun Life Financial Inc. announced that 1,400 Series 10R Shares & 621,829 Series 11QR Shares were elected for one-for-one conversion on September 30, 2026.
  • Sun Life will automatically convert all remaining Series 11QR Shares into Series 10R Shares on September 30, 2026, because the remaining balance falls below 1,000,000 shares.
  • Holders of Series 10R Shares are not entitled to convert their shares into Series 11QR Shares following the automatic conversion process.
  • Post-conversion, Sun Life will have 8,000,000 Series 10R Shares outstanding with nil Series 11QR Shares outstanding as of September 30, 2026.
  • Series 10R Shares trade on the Toronto Stock Exchange under the symbol SLF.PR.H.
  • Dividends for Series 10R Shares commence September 30, 2026, at a rate of 5.519% per annum ($0.344938 per share per quarter) for the five-year period through September 30, 2031.
  • The dividend rate is calculated as the Government of Canada Yield on August 31, 2026, plus 2.17%.
  • Sun Life may redeem Series 10R Shares at $25.00 per share plus unpaid dividends on September 30, 2031, and every fifth year thereafter.
  • The shares are not registered under the US Securities Act of 1933 & cannot be offered or sold to US persons.
  • Sun Life is a leading international financial services organization with $1.70 trillion in assets under management as of June 30, 2026.