iA Financial Group Reports Third Quarter Results and Announces a 10% Increase in Its Common Dividend

THIRD QUARTER HIGHLIGHTS – iA Financial Corporation

• Solid profitability: EPS of $2.99, trailing 12-month ROE¹ of 14.5% and annualized ROE of 16.9%
• Achievement of mid-term targets: core EPS^†† of $2.93 (+17% YoY), trailing 12-month core ROE^†† of 15.3% and annualized core ROE^†† of 16.6%
• Strong sales² momentum leading to over $4.9 billion in premiums and deposits^2,3 and nearly $250 billion in assets (total AUM2 and AUA2 )
• Robust solvency ratio4 of 140% and capital available for deployment² of $1 billion, expected to increase by $700 million on January 1, 2025⁵
• Book value per common share⁶ reaching $71.63 at September 30, 2024, up 10% over 12 months
• Dividend to common shareholders increased by 10% and renewal of NCIB program to buy back up to 5% of outstanding shares

For the third quarter ended September 30, 2024, iA Financial Corporation (TSX: IAG) recorded core diluted earnings per common share (EPS)†† of $2.93, which is 17% higher than the same period in 2023. Core return on common shareholders’ equity (ROE) †† for the trailing twelve months was 15.3%, meeting the Company’s medium-term target of 15%+. Third quarter net income attributed to common shareholders was $283 million, diluted EPS was $2.99 and ROE for the trailing twelve months was 14.5%. The solvency ratio of 140% at September 30, 2024 is well above the Company’s operating target of 120%.

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