Sun Life Financial Inc. announced its intention to redeem all of the outstanding $750 million principal amount of Series 2019-1 Subordinated Unsecured 2.38% Fixed/Floating Debentures in accordance with the redemption terms attached to the Debentures. The redemption will be funded from existing cash and liquid assets. The Debentures are redeemable at Sun Life's option on or after August 13, 2024 at a redemption price per Debenture equal to the principal amount together with accrued and unpaid interest to the date of redemption.

Sun Life intends to redeem the Debentures on August 13, 2024. Notice will be delivered to the holders of the Debentures in accordance with the terms outlined in the trust indenture governing the Debentures. After the Debentures are redeemed, interest will cease to accrue from and after the Redemption Date and holders of Debentures will not be entitled to exercise any rights as holders other than to receive the redemption price.