Intact Financial : Forward Looking Statement & Disclaimers

Forward-looking Statements

Certain of the statements included in this presentation about the Company's current and future plans, expectations and intentions, results, levels of activity, performance , goals or achievements or any other future events or developments constitute forward-looking statements. The words "may", "w ill",

"would", "should", " could", "expects", " plans", "intends", "trends", "indic ations", " anticipates", " believes", "estimates", " predicts", "likely ", "p otential" or the negative or other variations of these words or other similar or com par able w ords or phrases, are intended to identify forw ard-looking statements. Unless

otherwise indicated, all for ward-loo king statements in this presentation are made as at September 30, 2021, and are subject to chan ge after that date. This presentation contains for ward-loo king statements with respect to the acquisition (the "RSA Acquisition") o f RSA I nsurance Group PLC ("RSA") and the sale (the "Sale" ) o f Co dan Forsikring A/S's Danish business ("Co dan DK" ) to Alm . Br and A/S group ("Alm. Brand "), the separation and tr ansfer o f the businesses in Sweden and Norway fr om Co dan DK (the "Separ ation"), the receipt o f all requisite ap provals or cle arance s of the Separ ation and the Sale in a timely manner and on terms acceptable to the Company, the realization of the expected strategic, financial and other benefits of the Sale and with respect to the impact of COVID-19 and related economic conditions on the Company's operations and financial performance.

Forw ard-looking statements are based on estim ates and assumptions made by m anagement based on m anagement's experience and perception o f historical trends, current conditions and expected future developments, as well as other factors that m anage ment believes are ap propri ate in the circumstances. In addition to other estimates and assumptions which may be identified herein, estimates and assumptions have been made regar ding, among other things, the realization of the expected strategic, financial and other benefits of the RSA Acquisition, the Separation and the Sale, and economic and political environments and industry conditions. However, the completion of the Sale is subject to customary closing conditions, termination rights and other risks and uncertainties, including, without limitation, the Separation, regulatory ap provals and clearances, and there can be no assurance that the Sale will be c ompleted in a timely m anner, or at all . There can also be no assurance that the strategic and financi al benefits expe cted to result from the RSA Acquisition, the Separation or the Sale, will be re alized. Many factors coul d c ause the Com pany's actual results, perform ance or achievements or future events or developments to differ materially from those expressed or implied by the forward-looking statements, including, without limitation, the following factors:

•	expected regulatory processes and outcomes in connection with its	•	the Company's ability to contain fraud and/or abuse;	•	the Company's ability to successfully pursue its acquisition strategy;
	business;	• periodic negative publicity regarding the insurance industry;	•	the Company's ability to execute its business strategy;
•	government regulations designed to protect policyholders and creditors	•	the Company's reliance on brokers and third parties to sell its products to clients and	•	management's estimates and expectations in relation to future economic
	rather than investors;		provide services to the Company and the impact of COVID-19 and related economic		and business conditions and other factors in relation to the Separation, the
•	the occurrence and frequency of catastrophe events, including a major		conditions on such brokers and third parties;		Sale and resulting impact on growth and accretion in various financial
	earthquake;	•	the occurrence of and response to public health crises including epidemics,		metrics;
•	catastrophe losses caused by severe weather and other weather-related		pandemics or outbreaks of new infectious diseases, including, most recently, the	•	unfavourable capital markets developments or other factors that may
	losses, as well as the impact of climate change;		COVID-19 pandemic and ensuing events;		adversely affect Alm.Brand's ability to finance the Sale;
•	intense competition and disruption;	•	the volatility of the stock market and other factors affecting the trading prices of the	•	the Company's profitability and it's ability to improve its combined ratio,
•	unfavourable capital market developments or other factors, including the		Company's securities, including in the context of the COVID-19 crisis;		retain existing and attract new business, retain key employees and achieve
	impact of the COVID-19 pandemic and related economic conditions,	•	litigation and regulatory actions, including with respect to the COVID-19 pandemic;		synergies and maintain market position arising from successful integration
	which may affect the Company's investments, floating rate securities and	•	changes in laws or regulations, including those adopted in response to COVID -19		plans relating to the RSA Acquisition, as well as management's estimates
	funding obligations under its pension plans;		that would, for example, require insurers to cover business interruption claims		and expectations in relation to future economic and business conditions
•	the Company's ability to implement its strategy or operate its business as		irrespective of terms after policies have been issued, and could result in an		and other factors in relation to the RSA Acquisition and resulting impact on
	management currently expects;		unexpected increase in the number of claims and have a material adverse impact on		growth and accretion in various financial metrics;
•	its ability to accurately assess the risks associated with the insurance		the Company's results;	•	the Company's profitability and ability to improve its combined ratio in the
	policies that the Company writes;	•	COVID-19 related coverage issues and claims, including certain class actions and		United States;
•	the Company's ability to otherwise complete the integration of the		related defence costs, could negatively impact our claims reserves;	•	the Company's participation in the Facility Association (a mandatory
	business acquired within anticipated time periods and at expected cost	•	terrorist attacks and ensuing events;		pooling arrangement among all industry participants) and similar
	levels, as well as its ability to operate in new jurisdictions relating to the	•	the Company's ability to maintain its financial strength and issuer credit ratings;		mandated risk-sharing pools;
	RSA Acquisition;	•	the Company's access to debt and equity financing;	• general economic, financial and political conditions;
•	the Company's ability to achieve synergies arising from successful	•	the Company's ability to compete for large commercial business;	•	the Company's dependence on the results of operations of its subsidiaries
	integration plans relating to acquisitions;	•	the Company's ability to alleviate risk through reinsurance;		and the ability of the Company's subsidiaries to pay dividends;

• the Company's reliance on information technology and telecommunications systems and potential failure of or disruption to those

• the Company's ability to successfully manage credit risk (including credit risk related to the financial health of reinsurers);

• the Company's ability to hedge exposures to fluctuations in foreign exchange rates;

systems, including in the context of the impact on the ability of our	•	the Company's dependence on and ability to retain key employees;	•	future sales of a substantial number of its common shares; and
workforce to perform necessary business functions remotely, as well as in	• the cyclical nature of the P&C insurance industry;	•	changes in applicable tax laws, tax treaties or tax regulations or the
the context of evolving cybersecurity risk;	•	management's ability to accurately predict future claims frequency and severity,		interpretation or enforcement thereof.
• the impact of developments in technology and use of data on the		including in the high net worth and personal auto lines of business;
Company's products and distribution;

All of the forward-looking statements included in this presentation, the MD&A and the quarterly earnings press release dated November 9, 2021 are qualified by these cautionary statements and those made in the section entitled Risk management (Sections 28-33) of our MD&A for the year ended December 31, 2020 and in the risk section entitled Risk man agement (Sections 19-20) o f our Q2-2021 MD&A. These factors are not intended to represent a com plete list of the factors that coul d affect the Comp any. These factors should, however, be considered c ar efully. Although the for ward-loo king statements are based upon wh at man agement believes to be reason able assumptions, the Company c annot assure investors that actual results will be consistent with these forward-looking statements. When relying on for ward-loo king statements to make decisions, investors should ensure the preceding information is c arefully considered. Undue reli ance should not be pl aced on for ward-loo king statements made herein. The Com pany and m anagement have no intention and undertake no obli gation to upd ate or revise any forw ard-lookin g statements, whether as a result of new infor mation, future events or otherwise, except as required by law.

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Disclaimer

This presentation does not constitute or form part of any offer for sale or solicitation of any offer to buy or subscribe for any securities nor shall it or any part of it form the basis of or be relied on in connection with, or act as any inducement to enter into, any contract or commitment whatsoever.

The information contained in this presentation concerning the Company does not purport to be all-inclusive or to contain all the information that a prospective purchaser or investor may desire to have in evaluating whether or not to make an investment in the Company. The information is qualified entirely by reference to the Company's publicly disclosed information.

No representation or warranty, express or implied, is made or given by or on behalf of the Company or any of its the directors, officers or employees as to the accuracy, completeness or fairness of the information or opinions contained in this presentation and no responsibility or liability is accepted by any person for such information or opinions. In furnishing this presentation, the Company does not undertake or agree to any obligation to provide the attendees with access to any additional information or to update this presentation or to correct any inaccuracies in, or omissions from, this presentation that may become apparent. The information and opinions contained in this presentation are provided as at the date of this presentation. The contents of this presentation are not to be construed as legal, financial or tax advice. Each prospective purchaser should contact his, her or its own legal adviser, independent financial adviser or tax adviser for legal, financial or tax advice.

We use both IFRS and non-IFRS financial measures to assess our performance. Non-IFRS financial measures do not have standardized meanings prescribed by IFRS and may not be comparable to similar measures used by other companies in our industry. The non-IFRS measures included in this MD&A are: direct premiums written (DPW) and DPW growth in constant currency; net earned premiums (NEP); underlying current year loss ratio; PYD and PYD ratio; total net claims and claims ratio; underwriting expenses and expense ratio; underwriting income and combined ratio; distribution EBITA and Other; finance costs; other income (expense); income before income taxes and total income taxes; pre-tax operating income (PTOI), net operating income (NOI), net operating income per share (NOIPS) and operating return on equity (OROE); adjusted net income, adjusted earnings per share (AEPS) and adjusted return on equity (AROE), as well as Adjusted debt-to-total capital ratio. See Section 23 - Non-IFRS financial measures of the Q3-2021 MD&A for the definition and reconciliation to the most comparable IFRS measures.

Important notes:

• Non-IFRSfinancial measures and other insurance-related terms used in this presentation are defined in the glossary available in the "Investors" section of our web site at www.intactfc.com.

➢ Abbreviations and definitions of selected key terms used in this presentation are defined in Section 27 - Glossary and definitions of the Q3-2021 MD&A

• On June 1, 2021, we, together with the Scandinavian P&C leader Tryg A/S, completed the acquisition of RSA Insurance Group plc (RSA). RSA's results of operations and balance sheet are included in our Consolidated financial statements from the closing date. Effective in Q3 -2021, the DPW and underwriting income of RSA's Canadian and UK&I operations are reported under their respective segments. The new UK&I segment includes RSA's operations in the UK, Ireland, Europe and Middle East. See Section 3.3 - RSA and Section 4 - Segment performance of the Q3-2021 MD&A for more details.
• When relevant, to enhance the analysis of our performance with comparative periods, we present changes in constant currency, which exclude the impact of fluctuations in foreign exchange rates from one period to the other. With the RSA Acquisition, approximately 66% of our DPW will be denominated in CAD, 19% in GBP, 10% in USD, and the remaining, mainly in Euro. See Section 26.3 - Foreign currency rates of the Q3-2021 MD&A.
• Certain totals, subtotals and percentages may not agree due to rounding. Not meaningful (nm) is used to indicate that the cur rent and prior year figures are not comparable, not meaningful, or if the percentage change exceeds 1,000%.

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