Impact of IFRS 17 changes

3 The CSM will be a leading indicator of future insurance earnings CSM Movement Analysis 1,2 (illustrative) CSM Beginning of Period Impact of new insurance business CSM amortization Interest accretion Insurance experience gains/losses Organic CSM Movement Impact of change in assumptions Impact of financial risk Currency impact Other³ Total CSM Movement CSM End of Period SUN LIFE I FR S 1 7 • MAY 2022 • • • . The CSM will provide a view of both: 1. The stored value of our in-force insurance business 2. The growth derived from new insurance sales activity The new CSM Movement Analysis will differentiate between expected CSM movements and temporary volatility within the CSM² Organic CSM will provide a view of the sustainable growth of our insurance business We expect low to mid-teens growth in New Insurance Business CSM Note: This slide contains forward-looking statements. Refer to "Forward-looking statements" on slide 3 for more information Footnotes 1-3: Refer to slide 33 27 27

View entire presentation