Impact of IFRS 17 changes

4 Strong capital position expected to improve at transition LICAT ratio- improves • Transfer of equity to CSM is neutral to capital as both are considered available capital under LICAT framework Sun Life's prudent risk management will continue Capital generation-neutral • CSM generated by new business qualifies immediately as available capital • CSM generation creates deployable capital • Capital volatility-neutral Current low capital sensitivity from markets is expected to persist under IFRS 17 SUN LIFE I FR S 1 7 • MAY 2022 Note: This slide contains forward-looking statements. Refer to "Forward-looking statements" on slide 3 for more information 19

View entire presentation