iA Financial Group (TSX: IAG) has been notified of an unsolicited mini-tender offer made by Ocehan LLC ("Ocehan") to purchase up to 50,000 common shares of iA Financial Group, representing approximately 0.05% of the common shares outstanding, at a price of $93.30 per share, representing an aggregate purchase price of less than $5 million.

iA Financial Group is not associated with Ocehan and does not recommend or endorse in any way the acceptance of this restricted tender offer.

iA Financial Group cautions shareholders that this offer was made at a price that is significantly lower than recent market prices for common shares of iA Financial Group on the Toronto Stock Exchange (the "TSX"). Ocehan's unsolicited offer price of $93.30 per share represents a discount of approximately 29.84% to the closing price of iA Financial Group's common shares on the TSX on May 6, 2025.

It should be noted that mini-tender offers are generally designed to obtain relatively small percentages of a company's outstanding shares, thereby avoiding the disclosure and procedural requirements applicable to most bids under Canadian securities regulations. Moreover, the Canadian Securities Administrators (CSA) and other securities regulatory authorities have expressed serious concerns regarding mini-tender offers, including the possibility that investors might tender to such offers without understanding the offer price relative to the actual market price of their securities. For more information on the risks associated with mini tender offers, shareholders and market participants may consult the CSA's long-standing guidance at CSA Staff Notice 61-301 Staff Guidance on the Practice of "Mini-Tenders" .

According to Ocehan's offer documents, iA Financial Group shareholders who have already tendered their shares may withdraw them by following the procedures described in those documents.

Shareholders should carefully review the Ocehan offer documents and current market price for iA Financial Group's shares, and consult their investment advisors regarding any offer they may receive and review with their advisors all options for investment in iA Financial Group shares.

iA Financial Group's transfer agent, Computershare, provides services directly to registered shareholders of iA Financial Group in Canada and can provide information on share account management, direct deposit of dividends, dividend reinvestment and share purchase plans. For more information, iA Financial Group shareholders can contact Computershare by email at ia@computershare.com or by phone at toll-free number 1 877 684-5000 or 514 982-7555.

iA Financial Group requests that a copy of this news release be included in any distribution of materials relating to Ocehan's mini-tender offer for iA Financial Group common shares.

About iA Financial Group

iA Financial Group is one of the largest insurance and wealth management groups in Canada, with operations in the United States. Founded in 1892, it is an important Canadian public company and is listed on the Toronto Stock Exchange under the ticker symbol IAG (common shares).

iA Financial Group is a business name and trademark of iA Financial Corporation Inc.

SOURCE iA Financial Group

SOURCE: iA Financial Group

SOURCE: Industrial Alliance Insurance and Financial Services Inc.

SOURCE: iA Financial Corporation

Information: Investor Relations, Caroline Drouin, Office phone: 418-684-5000, ext.
103281, Email: caroline.drouin@ia.ca; Public Affairs, Chantal Corbeil, Office phone:
514-247-0465, Email: chantal.corbeil@ia.ca

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