CI Financial Corp. announced that it has commenced a cash tender offer (the ?Tender Offer?) to purchase any and all of its outstanding 4.100% Notes due 2051 (the ?Notes?), as specified in the table below. Unless specified otherwise, references to ?$?

are to U.S. dollars. Capitalized terms used but not defined in this announcement have the meanings given to them in the Offer to Purchase (as defined below). The Bloomberg Reference Page is provided for convenience only.

To the extent any Bloomberg Reference Page changes prior to the Price Determination Date, the Dealer Managers will quote the Reference Treasury Security from the updated Bloomberg Reference Page. Includes the Early Tender Premium of 50.00 per 1,000 principal amount of Notes. The full terms and conditions of the Tender Offer are described in an Offer to Purchase dated May 21, 2024 (as it may be amended or supplemented, the ?Offer to Purchase?).

The Tender Offer is subject to the satisfaction of certain conditions as set forth in the Offer to Purchase, including the receipt of aggregate gross proceeds from the Company?s Concurrent Notes Offering on terms satisfactory to the Company, on or prior to the Early Settlement Date in an amount that, in the Company?s sole discretion, is sufficient to effect the repurchase of the Notes validly tendered and accepted for purchase pursuant to the Tender Offer. Subject to applicable law, the Company may waive any and all of these conditions or extend, terminate or withdraw the Tender Offer, including on or after the Price Determination Date. The Tender Offer is not conditioned upon any minimum amount of Notes being tendered.

The Tender Offer will expire at 5:00 p.m., New York City time, on June 20, 2024, unless extended (such date and time, as the same may be extended, the ?Expiration Date?) or earlier terminated. In order to receive the applicable Total Tender Offer Consideration, holders of Notes subject to the Tender Offer must validly tender and not validly withdraw their Notes before the Early Tender Deadline, which is 5:00 p.m., New York City time, on June 4, 2024, unless extended. Holders of Notes subject to the Tender Offer who validly tender their Notes after the Early Tender Deadline and before the Expiration Date and whose Notes are accepted for purchase will receive the applicable Late Tender Offer Consideration.

The applicable Total Tender Offer Consideration for each $1,000 in principal amount of Notes tendered and not withdrawn before the Early Tender Deadline and accepted for payment pursuant to the Tender Offer on the Early Settlement Date (as defined below) will be determined in the manner described in the Offer to Purchase. The consideration will be determined by reference to the fixed spread for the of Notes over the yield based on the bid-side price of the Reference U.S. Treasury Security specified in the table above, as fully described in the Offer to Purchase. The consideration will be calculated by the Dealer Managers for the Tender Offer at 10:00 a.m., New York City time, on the business day immediately following the Early Tender Deadline, unless extended (such date and time, as the same may be extended, the ?Price Determination Date?).

The Price Determination Date is expected to be June 5, 2024. The Early Tender Premium is $50 per $1,000 principal amount of Notes. The Late Tender Offer Consideration for the Notes purchased pursuant to the Tender Offer will be calculated by taking the Total Tender Offer Consideration for the Notes and subtracting from it the Early Tender Premium of $50 per $1,000 principal amount of Notes.

In addition to the applicable Total Tender Offer Consideration or applicable Late Tender Offer Consideration, as the case may be, accrued and unpaid interest up to, but not including, the applicable Settlement Date will be paid in cash on all validly tendered Notes accepted for purchase in the Tender Offer. The purchase price plus accrued and unpaid interest for Notes that are validly tendered and not validly withdrawn on or before the Early Tender Deadline and accepted for purchase will be paid by the Company in same day funds promptly following the Early Tender Deadline (the ?Early Settlement Date?). The Company expects that the Early Settlement Date will be June 7, 2024, the second business day after the Early Tender Deadline.

The purchase price plus accrued and unpaid interest for Notes that are validly tendered after the Early Tender Deadline and on or before the Expiration Date and accepted for purchase will be paid by the Company in same day funds promptly following the Expiration Date (the ?Final Settlement Date?). The Company expects that the Final Settlement Date will be June 24, 2024, the second business day after the Expiration Date. No tenders will be valid if submitted after the Expiration Date.

Holders of Notes subject to the Tender Offer who validly tender their Notes on or before the Early Tender Deadline may not withdraw their Notes after 5:00 p.m., New York City time, on June 4, 2024, unless extended (such date and time, as the same may be extended, the ?Withdrawal Deadline?), except in the limited circumstances described in the Offer to Purchase. Holders of Notes subject to the Tender Offer who validly tender their Notes after the Withdrawal Deadline but on or before the Expiration Date may not withdraw their Notes except in the limited circumstances described in the Offer to Purchase.