Sun Life to Redeem Series 2015-1 Subordinated Unsecured 2.60% Fixed/Floating Debentures

Sun Life Financial Inc. (PSE: SLF) (TSX: SLF) (NYSE: SLF) has announced its intention to redeem all of the outstanding C$500 million principal amount of Series 2015-1 Subordinated Unsecured 2.60% Fixed/Floating Debentures (the “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 September 25, 2020 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 September 25, 2020 (the Redemption Date). 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.