iA Financial (IAG) investor relations material

Recent performance and outlook

• Achieved exceptional Q2 results with all sectors contributing positively, marking a rare alignment across business lines.

• Confident in sustaining some of the experience gains over the long term due to disciplined strategy execution.

• ROE already exceeds the 17%+ 2027 target, with current focus on maintaining and prudently growing above this level.

• Book value per share grew 9% over the last year, significantly outpacing industry averages and reflecting long-term strength.

• EPS growth has averaged 12% over the past decade, surpassing the 10%+ long-term objective.

Strategic priorities and capital deployment

• Excess capital is prioritized for organic growth and selective inorganic opportunities, with share buybacks as a last resort.

• M&A focus remains opportunistic across all sectors, with a disciplined approach to ROE benchmarks.

• U.S. Life and dealer services are highlighted as areas with strong acquisition potential.

• Technology investment is a key driver for both operational efficiency and distribution expansion.

• Leverage is intentionally low but expected to increase over time to support capital deployment.

Business line performance and differentiation

• Dominates the Canadian individual insurance market, holding a 28% share, and targets the mass/mid-market for profitability.

• Distribution reach and technology investments are central to sales growth and cost efficiency.

• Group insurance targets midsized employers, with steady market share gains expected.

• Wealth management leadership in seg funds, with a focus on independent distribution and technology-driven scaling.

• Mutual fund manufacturing faces industry headwinds but remains profitable and strategically relevant.