Impact of IFRS 17 changes

Footnotes (continued) From slide 25 1 Represents a non-IFRS financial measure. This is anticipated to be a new non-IFRS financial measure to be included in our quarterly disclosures effective Q1 2023 2 Includes insurance experience and market experience. Market experience for certain contracts, such as participating business, variable annuities and unit-linked contracts will be presented in insurance service results for those groups of contracts where the CSM balance is nil 3 Insurance assumption change impacts will be presented in the net insurance service result for those groups of contracts where the CSM balance is nil 4 Consists of the variance between expected investment return and the liability discount rate 5 Economic assumption changes will be presented in CSM for certain contracts, such as participating business, variable annuities and unit-linked contracts that have sufficient CSM balance to absorb the impact 6 For pass-through insurance, the same items will impact the CSM. If no CSM is available, the impacts will flow through the net insurance service result From slide 26 1 Represents a non-IFRS financial measure. Refer to "Non-IFRS financial measures" on slide 3 for more information 2 Represents a non-IFRS financial measure. This is anticipated to be a new non-IFRS financial measure to be included in our quarterly disclosures commencing Q1 2023 3 Includes other items reported outside of non-IFRS earnings measure From slide 27 1 Represents a non-IFRS financial measure. This is anticipated to be a new non-IFRS financial measure to be included in our quarterly disclosures commencing Q1 2023 2 Definition and components of CSM Movement Analysis may be updated as industry practices evolve 3 Includes other items reported outside of non-IFRS earnings measure From slide 28 1 Represents a simplified view of key components 2 The impact on stability is directional; actual results may vary 3 Represents a non-IFRS financial measure. Refer to "Non-IFRS financial measures" on slide 3 for more information SUN LIFE I FR S 1 7 • MAY 20 22 33

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