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iA Financial Group Announces the Exercise and Closing of the Over-Allotment Option to its Offering of Common Shares

Quebec,

News Release

Industrial Alliance Insurance and Financial Services Inc. (“iA Financial Group” or the “Company”) (TSX: IAG) announces today that it closed the sale of an additional 250,000 common shares at a price of $54.10 per common share raising additional gross proceeds of $13,525,000 pursuant to the exercise in full by the underwriters of their over-allotment option in the recently completed bought deal public offering of 2,500,000 common shares, which closed on March 7, 2018 (the “Common Share Offering”). The exercise of the over-allotment option brings the total number of common shares sold by the Company in the Common Share Offering to 2,750,000 for aggregate gross proceeds of $148,775,000. The Common Share Offering was conducted by a syndicate of underwriters co-led by TD Securities Inc. and National Bank Financial Inc., and which also included RBC Capital Markets, Scotiabank, BMO Capital Markets, CIBC Capital Markets and Industrial Alliance Securities Inc.

The common shares were issued under a prospectus supplement dated February 28, 2018 to the Company’s short form base shelf prospectus dated June 22, 2017. Details of the Common Share Offering are set out in the prospectus supplement which is available on the Company’s profile on SEDAR at www.sedar.com.

Notice
The securities offered have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or the securities laws of any state of the United States of America, and may not be offered, sold or delivered, directly or indirectly, within the United States, its territories, its possessions and other areas subject to its jurisdiction or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the U.S. Securities Act), except in certain transactions exempt from, or not subject to, the registration requirements of the U.S. Securities Act and applicable state securities laws. This press release does not constitute an offer to sell or a solicitation of an offer to buy any of these securities within the United States.