Date Closed

March 7, 2018

Lead Office

Toronto

Value

298.70 Million CAD

On March 7, 2018, the syndicate of underwriters co-led by TD Securities Inc. and National Bank Financial Inc. closed offerings with Industrial Alliance Insurance and Financial Services Inc. (“iA Financial Group”) pursuant to which the underwriters purchased from iA Financial Group 2,500,000 common shares at a price of $54.10 per common share, for gross proceeds of $135 million and 6,000,000 Non-Cumulative 5-Year Rate Reset Class A Preferred Shares Series I at a price of $25.00 per Series I Preferred Share, for gross proceeds of $150 million.

On March 12, 2018, iA Financial Group also closed the over-allotment option to its offering of common shares. Pursuant to the exercise in full by the underwriters of their over-allotment option, iA Financial Group sold an additional 250,000 common shares at a price of $54.10 per share for additional aggregate gross proceeds of $13.525 million. The exercise of the over-allotment option brings the total number of common shares sold by iA Financial Group to 2,750,000 for aggregate gross proceeds of $148.775 million.

The net proceeds from the offerings will be used for general corporate purposes and to maintain and replenish iA Financial Group’s capital base, including after giving effect to the payment of the purchase price for the acquisition of PPI Management Inc.

McCarthy Tétrault LLP advised the underwriters with a team led by Andrew Parker that included Charles-Antoine Soulière, Myreille Gilbert and Charles-Alexandre Jobin (Securities) and Gabrielle Richards (Tax).