Sun Life Announces Early Renewal of Normal Course Issuer Bid

Core Viewpoint - Sun Life Financial Inc. has received approval for the early renewal of its normal course issuer bid (NCIB), allowing the company to repurchase additional common shares to return capital to shareholders as part of its capital management strategy [1][3]. Summary by Sections NCIB Details - The company has repurchased 14,429,085 of the 15,000,000 common shares authorized under the 2024 NCIB, which commenced on August 29, 2024, at a weighted average price of approximately $81.49 per share [2]. - The renewed 2025 NCIB allows the company to purchase up to 10,570,915 common shares, which includes the remaining shares from the 2024 NCIB and an additional 10,000,000 shares [2][4]. - The 2025 NCIB will start on June 9, 2025, and continue until May 21, 2026, or an earlier date as determined by the company [2]. Trading Volume and Purchase Limits - The average daily trading volume (ADTV) of the company's common shares on the TSX for the six months ending May 31, 2025, was 2,170,836 [2]. - Under TSX rules, the company may purchase up to 542,709 common shares on any trading day, which is 25% of the ADTV [2][4]. Repurchase Plan and Flexibility - The 2025 NCIB provides the company with flexibility to acquire common shares as part of its overall capital management strategy [3]. - The company has established an automatic repurchase plan with its designated broker to facilitate purchases during internal trading blackout periods [6]. Regulatory Compliance - The total number of common shares repurchased under the 2024 NCIB will be deducted from the maximum number of shares that can be purchased under the 2025 NCIB, which has been approved for a total of 25,000,000 shares [4]. - Purchases may also be made through private agreements or share repurchase programs under exemption orders issued by securities regulatory authorities [5]. Company Overview - Sun Life is a leading international financial services organization with total assets under management of $1.55 trillion as of March 31, 2025 [10]. - The company operates in various markets worldwide, including Canada, the United States, and several countries in Asia and Europe [10].