Rakovina Therapeutics Highlights Long-Standing Collaboration with the University of British Columbia and the Vancouver Prostate Centre
University of British Columbia
(UBC) and its affiliated
Vancouver Prostate Centre
(VPC), one of Canada's leading cancer research institutions.
Rakovina's collaboration with the Vancouver Prostate Centre and UBC ensures that compound testing and validation are conducted within one of the world's most respected cancer facilities. This agreement with UBC enables close collaboration with leading cancer scientists using UBC's state-of-the-art lab infrastructure, both accelerating and de-risking the translation of scientific discovery.
Furthermore, members of Rakovina's management team and scientific advisory board hold dual roles within UBC and the Vancouver Prostate Centre, strengthening the connection.
Rakovina's President and Chief Scientific Officer,
Dr. Mads Daugaard
, serves as an Associate Professor at UBC and as Senior Research Scientist and Head of Molecular Pathology at the Vancouver Prostate Centre. His dual roles in academia and industry bridge fundamental cancer biology with Rakovina's proprietary DDR drug discovery programs.
The Company's AI and medicinal chemistry advisor,
Dr. Artem Cherkasov
, is a Senior Research Scientist and Head of Precision Cancer Drug Design at the Vancouver Prostate Centre, Professor in the Department of Urologic Sciences at UBC, and Canada Research Chair in Precision Cancer Drug Design. A pioneer in AI-enabled drug discovery, Dr. Cherkasov is the developer of the Deep Docking™ platform, which drives part of Rakovina's drug discovery engine and has accelerated the identification of novel DDR inhibitors.
'Our model has been built on strategic alignment with UBC's research excellence,' said Jeffrey Bacha, Executive Chairman of Rakovina Therapeutics. 'Collaborating with the Vancouver Prostate Centre gives us unique access to the infrastructure, expertise, and collaborative environment needed to rapidly advance next-generation cancer therapies.'
Rakovina Therapeutics continues to leverage its deep academic partnerships as it advances multiple oncology programs toward preclinical milestones.
About Rakovina Therapeutics Inc.
Rakovina Therapeutics is a biopharmaceutical research company focused on the development of innovative cancer treatments. Our work is based on unique technologies for targeting the DNA-damage response powered by Artificial Intelligence (AI) using the proprietary Deep-Docking™ and Enki™ platforms. By using AI, we can review and optimize drug candidates at a much greater pace than ever before.
The Company has established a pipeline of distinctive DNA-damage response inhibitors with the goal of advancing one or more drug candidates into human clinical trials in collaboration with pharmaceutical partners.
Further information may be found at
www.rakovinatherapeutics.com
.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
Notice Regarding Rakovina Therapeutics Forward-Looking Statements:
This release includes forward-looking statements regarding the company and its respective business, which may include, but is not limited to, statements with respect to the proposed business plan of the company and other statements. Often, but not always, forward-looking statements can be identified by the use of words such as 'plans,' 'is expected,' 'expects,' 'scheduled,' 'intends,' 'contemplates,' 'anticipates,' 'believes,' 'proposes' or variations (including negative variations) of such words and phrases, or state that certain actions, events, or results 'may,' 'could,' 'would,' 'might,' or 'will' be taken, occur, or be achieved. Such statements are based on the current expectations of the management of the company. The forward-looking events and circumstances discussed in this release may not occur by certain specified dates or at all and could differ materially as a result of known and unknown risk factors and uncertainties affecting the company, including risks regarding the medical device industry, economic factors, regulatory factors, the equity markets generally, and risks associated with growth and competition.
Although the company has attempted to identify important factors that could cause actual actions, events, or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events, or results to differ from those anticipated, estimated, or intended. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made, and the company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise. The reader is referred to the company's most recent filings on SEDAR+ for a more complete discussion of all applicable risk factors and their potential effects, copies of which may be accessed through the company's profile page at
www.sedar.com
.
For Further Information Contact:
Michelle Seltenrich, BSc MBA
Director, Corporate Development
IR@rakovinatherapeutics.com
778-773-5432
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Kneat Announces Record Revenue for Second Quarter 2025
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Total ARR1, which includes SaaS license and recurring maintenance fees, was $64.8 million at June 30, 2025, an increase of 43% from $45.4 million at June 30, 2024. [1] ARR is a supplementary measure. EBITDA and Adjusted EBITDA are non-IFRS measures and are not recognized, defined or standardized measures under IFRS. These measures are defined in the 'Supplementary and Non-IFRS Measures' section of this news release. First Half of 2025 Financial Highlights Total revenues for the six-month period ended June 30, 2025 increased 34% to $30.2 million, compared to $22.4 million for the comparable six-month period in 2024. SaaS revenue grew 36% to $28.0 million for the six months ended June 30, 2025, versus $20.6 million for the comparable period in 2024. Gross profit was $22.6 million, up 36% from $16.6 million in gross profit for the first half of 2024. Gross margin for the first half of 2025 was 75%, compared to 74% for the first half of 2024. EBITDA1 for the first half of 2025 was $9.7 million, compared with $0.0 million for the first half of 2024. Adjusted EBITDA1 for the first half of 2025 was $2.7 million, compared with $2.2 million for the first half of 2024. Net income for the first half of 2025 was $1.8 million, compared with ($6.4) million for the first half of 2024. Recent Business Highlights In April 2025, Kneat announced that it signed a Services Agreement with a multinational producer of generic pharmaceuticals. The Company, which operates more than a dozen manufacturing facilities around the world and employs more than 20,000 people, will initially use Kneat to digitize its drawing management process. In early May 2025, Kneat saw record attendance at VALIDATE, its annual event convening validation and quality professionals from around the world. One of the world's largest events for validation experts to discover, share and apply validation technologies, regulations, and best practices, VALIDATE enabled participants to witness the power of the Kneat Gx platform. In May 2025, Kneat announced that it signed a three-year Master Services Agreement with a leading manufacturer of clinical diagnostics for the healthcare industry. The Company, which operates in more than 40 countries and employs over 14,000 people, will use Kneat Gx initially to digitize its equipment validation process. Also in May 2025, Kneat announced the expansion of its executive leadership team with the addition of a Chief Innovation Officer Role. Co-founder and Chief Product Officer Kevin Fitzgerald transitioned out of his current role and into the Chief Innovation Officer role on June 9th. Donal O'Sullivan, an executive with extensive software development and product management leadership, joined Kneat at that time as Chief Product Officer. In June 2025, Kneat announced that it signed a multi-year Master Services Agreement with a leading global healthcare technology company. The Company, which employs over 50,000 people and manufactures in more than a dozen countries worldwide, will use the Kneat Gx platform initially to digitize its Commissioning, Qualification and Validation workflows for facilities, equipment and computer systems at several lead manufacturing sites. Also in June 2025, Kneat announced the retirement of its CFO Hugh Kavanagh. The role will be filled by Dave O'Reilly, who joined Kneat in July. Dave served most recently as CFO of Ekco, a leading European managed security service provider, which he helped scale from startup to a business with $200 million in annual revenue. Prior to his time at Ekco he led the international finance function for a $4 billion-SaaS business, Consensus Cloud Solutions/Ziff Davis Inc., formerly J2 Global. In July, Kneat launched Kneat Gx 9.5, which advances the data management capabilities of our platform. New features include greater management and control over discrete datasets; deeper functionality for defining, regulating and tracing datasets to align with risk-based validation; and more advanced filtering and visibility for Requirements, Risks and Test evidence, critical pillars of effective and efficient validation. These features enable users to save time by leveraging data across more projects than ever before; empowering risk-based validation processes such as Computer Software Assurance; and exerting greater control over traceability that adapts to any workflow. 'Kneat's long history of solid execution is extended with the results reported today. I look forward to continuing the disciplined financial stewardship that precedes me in this role, and with it, Kneat's continuous scaling of the value we deliver to the Life Sciences industry." - Dave O'Reilly, Chief Financial Officer of Kneat. Quarterly Conference Call Eddie Ryan, Chief Executive Officer of Kneat and Dave O' Reilly, Chief Financial Officer of Kneat, along with outgoing Chief Financial Officer, Hugh Kavanagh, will host a conference call to discuss Kneat's second-quarter results and hold a Q&A for analysts and investors via webcast on Wednesday, August 6, 2025, at 9:00 a.m. ET. Interested parties can register for the live webcast via the following link: Register Here. About Kneat Kneat Solutions provides leading companies in highly regulated industries with unparalleled efficiency in validation and compliance through its digital validation platform Kneat Gx. As an industry leader in customer satisfaction, Kneat boasts an excellent record for implementation, powered by our user-friendly design, expert support, and on-demand training academy. Kneat Gx is an industry-leading digital validation platform that enables highly regulated companies to manage any validation discipline from end-to-end. Kneat Gx is fully ISO 9001 and ISO 27001 certified, fully validated, and 21 CFR Part 11/Annex 11 compliant. Multiple independent customer studies show up to 40% reduction in documentation cycle times, up to 20% faster speed to market, and a higher compliance standard. For more information visit Supplementary and Non-IFRS Financial Measures The Company uses supplementary financial measures as key performance indicators in its MD&A and other communications. Management uses both IFRS measures and supplementary, non-IFRS financial measures as key performance indicators when planning, monitoring and evaluating the Company's performance. Annual Recurring Revenue ('ARR') Kneat management use ARR to evaluate and assess the Company's performance, identify trends affecting its business, formulate financial projections and make financial decisions. The Company believes that ARR is a useful metric for investors as it provides a measure of the value of the recurring revenue at a point in time (end date of the relevant quarter). ARR is based on signed agreements and indicates the level of recurring revenue that the Company would anticipate reporting in a 12-month period based on the full annual SaaS and maintenance fees for existing customers. In specific circumstances, the Company may utilize pricing incentives for limited contract periods. These incentives are not included in the calculation of ARR. ARR is used by Kneat to assess the expected recurring revenues from the customers that are live on the Kneat Gx platform at the end of the period. ARR is calculated using the licenses delivered to customers at the period end, multiplied by the expected customer retention rate of 100% and multiplied by the full agreed annual SaaS license or maintenance fee. Since many of the customer contracts are in currencies other than the Canadian dollar, the Canadian dollar equivalent is calculated using the related period end exchange rate multiplied by the contracted currency amount. Earnings before Interest, Taxes, Depreciation and Amortization ('EBITDA') EBITDA is calculated as net income (loss) attributable to excluding interest income (expense), provision for income taxes, depreciation and amortization. We provide and use this non-IFRS measure of our operating performance to highlight trends in our core business that may not otherwise be apparent when relying solely on IFRS financial measures and to inform financial comparisons with other companies. A reconciliation of EBITDA to IFRS financial measures is provided in the financial statements accompanying this press release. Adjusted Earnings before Interest, Taxes, Depreciation and Amortization ('Adjusted EBITDA') Adjusted EBITDA is calculated as net income (loss) attributable to excluding interest income (expense), provision for income taxes, depreciation and amortization, foreign exchange gain and stock-based compensation expense. We provide and use this non-IFRS measure of our operating performance to highlight trends in our core business that may not otherwise be apparent when relying solely on IFRS financial measures and to inform financial comparisons with other companies. A reconciliation of Adjusted EBITDA to IFRS financial measures is provided in the financial statements accompanying this press release. Cautionary and Forward-Looking Statements Except for the statements of historical fact contained herein, certain information presented constitutes 'forward-looking information' within the meaning of applicable Canadian securities laws. Such forward-looking information includes, but is not limited to, the relationship between Kneat and the customer, Kneat's business development activities, the use and implementation timelines of Kneat's software within the customer's validation processes, the ability and intent of the customer to scale the use of Kneat's software within the customer's organization, our ability to win business from new customers and expand business from existing customers, our expected use of the net proceeds from the IPF Facility and the public equity financing completed in both February and October 2024 and the anticipated effects thereof on the business and operations of the company, and the compliance of Kneat's platform under regulatory audit and inspection. These and other assumptions, risks and uncertainties may cause Kneat's actual results, performance, achievements and developments to differ materially from the results, performance, achievements or developments expressed or implied by forward-looking statements. Material risks and uncertainties relating to our business are described under the headings 'Cautionary Note Regarding Forward-Looking Statements and Information' and 'Risk Factors' in our MD&A dated August 5, 2025, under the heading 'Risk Factors' in our Annual Information Form dated February 26, 2025 and in our other public documents filed with Canadian securities regulatory authorities, which are available at Forward-looking statements are provided to help readers understand management's expectations as at the date of this release and may not be suitable for other purposes. Readers are cautioned not to place undue reliance on forward-looking statements. Kneat assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as expressly required by law. Investors should not assume that any lack of update to a previously issued forward-looking statement constitutes a reaffirmation of that statement. Continued reliance on forward-looking statements is at an investor's own risk. For further information: Katie Keita, Kneat Investor RelationsP: + 1-902-450-2660E: Condensed Interim Consolidated Statements of Income/(Loss) and Comprehensive Loss Three-monthperiod ended June 30, 2025 Three-monthperiod ended June 30, 2024 Six-monthperiod ended June 30, 2025 Six-monthperiod ended June 30, 2024 $ $ $ $ Revenue 15,405,109 11,675,734 30,152,750 22,442,735 Cost of revenue (3,777,809 ) (2,982,094 ) (7,600,954 ) (5,816,109 ) Gross profit 11,627,300 8,693,640 22,551,796 16,626,626 Expenses Research and development (5,702,497 ) (4,761,889 ) (10,401,162 ) (8,807,437 ) Sales and marketing (6,129,942 ) (4,368,485 ) (11,246,419 ) (8,400,169 ) General and administrative (3,792,405 ) (2,194,999 ) (6,304,034 ) (4,300,588 ) Operating loss (3,997,544 ) (2,631,733 ) (5,399,819 ) (4,881,568 ) Finance expense (877,545 ) (870,905 ) (1,766,090 ) (1,738,356 ) Interest income 151,053 172,999 349,692 208,075 Foreign exchange gain 4,429,193 258,049 8,691,793 19,286 (Loss) income before income taxes (294,843 ) (3,071,590 ) 1,875,576 (6,392,563 ) Income tax expense (84,299 ) (28,553 ) (108,729 ) (44,440 ) Net (loss) income for the period (379,142 ) (3,100,143 ) 1,766,847 (6,437,003 ) Other comprehensive loss Foreign currency translation adjustment to presentation currency (1,833,771 ) (234,170 ) (3,832,292 ) (43,276 ) Comprehensive loss for the period (2,212,913 ) (3,334,313 ) (2,065,445 ) (6,480,279 ) (Loss)/Earnings per share - Basic and diluted (0.00 ) (0.04 ) 0.02 (0.08 ) Weighted-average number of common shares outstanding: Basic 94,728,598 85,581,420 94,469,559 83,293,224 Diluted 94,728,598 85,581,420 97,985,267 83,293,224 Reconciliation: Net (loss) income for the period (379,142 ) (3,100,143 ) 1,766,847 (6,437,003 ) Finance expense 877,545 870,905 1,766,090 1,738,356 Interest income (151,053 ) (172,999 ) (349,692 ) (208,075 ) Income tax expense 84,299 28,553 108,729 44,440 Depreciation charge 181,718 190,394 358,719 381,615 Amortization of intangible assets charge 3,155,635 2,688,851 6,002,381 4,523,062 EBITDA 3,769,002 505,561 9,653,074 42,395 Adjustments to EBITDA Foreign exchange gain (4,429,193 ) (258,049 ) (8,691,793 ) (19,286 ) Stock based compensation 1,090,175 1,338,990 1,787,193 2,151,163 Adjusted EBITDA 429,984 1,586,502 2,748,474 2,174,272 Condensed Interim Consolidated Statements of Financial Position June 30,2025 December 31, 2024 $ $ Assets Current assets Cash 66,771,997 58,889,572 Amounts receivable 11,176,423 18,377,009 Prepayments 1,861,908 1,870,095 79,810,328 79,136,676 Non-current assets Amounts receivable 4,798,361 2,368,006 Property and equipment 8,057,345 6,782,179 Intangible asset 41,999,419 36,290,869 Total Assets 134,665,453 124,577,730 Liabilities Current liabilities Accounts payable and accrued liabilities 11,071,328 8,580,104 Contract liabilities 26,550,906 21,631,416 Loan payable 6,012,075 4,116,723 Lease liabilities 401,739 434,096 44,036,048 34,762,339 Non-current liabilities Contract liabilities 3,063 33,393 Loan payable and accrued interest 17,338,181 19,038,203 Lease liabilities 6,911,364 5,671,952 Total Liabilities 68,288,656 59,505,887 Equity Shareholders' equity 66,376,797 65,071,843 Total Liabilities and Equity 134,665,453 124,577, Condensed Interim Consolidated Statement of Cash Flows Six-monthperiod ended June 30, 2025 Six-monthperiod ended June 30, 2024 Operating activities $ $ Net income (loss) for the period 1,766,847 (6,437,003 ) Charges to income (loss) not involving cash: Depreciation of property and equipment 358,719 381,615 Share-based compensation 1,787,193 2,151,163 Interest expense 1,672,870 1,738,356 Tax expense 108,729 44,440 Amortization of the intangible asset 6,002,381 4,523,062 Amortization of loan issuance costs 93,220 76,194 Foreign exchange gain (8,691,793 ) (19,286 ) (Decrease)/increase in non-current contract liabilities (31,359 ) 38,241 Net change in non-cash operating working capital related to operations 12,481,190 7,533,596 Net cash provided by operating activities 15,547,997 10,030,378 Financing activities Proceeds received from public equity financing - 20,000,110 Share issuance costs associated with public equity financing - (1,626,257 ) Payment of principal and interest on loans payable (3,154,648 ) (1,232,889 ) Proceeds from the exercise of stock options 989,061 1,051,787 Repayment of lease liabilities (394,650 ) (364,423 ) Net cash (used in)/provided by financing activities (2,560,237 ) 17,828,328 Investing activities Additions to the intangible asset (10,599,886 ) (9,675,371 ) Additions to property and equipment (96,462 ) (50,397 ) Collection of research and development tax credits 1,887,789 2,336,619 Net cash used in investing activities (8,808,559 ) (7,389,149 ) Effects of exchange rates on cash 3,703,224 170,762 Net change in cash during the period 7,882,425 20,640,319 Cash – Beginning of period 58,889,572 15,252,526 Cash – End of period 66,771,997 35,892,845 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
11 minutes ago
- Business Wire
iA Financial Group Reports Second Quarter Results and a 10% Increase in Its Common Dividend
- Very strong profitability driven by experience gains and a high level of sales This news release presents financial information in accordance with IFRS ® Accounting Standards (referred to as 'IFRS' in this document) and certain non-IFRS and additional financial measures used by the Company when evaluating its results and measuring its performance. For relevant information about non-IFRS financial measures and other specified financial measures used in this document, see the 'Non-IFRS and Additional Financial Measures' section in this document and in the Management's Discussion and Analysis for the period ended June 30, 2025, which is hereby incorporated by reference and is available for review at or on iA Financial Group's website at The results presented below are for iA Financial Corporation Inc. ('iA Financial Group' or the 'Company'). SECOND QUARTER HIGHLIGHTS Core EPS †† of $3.49 (+27% YoY), and trailing-12-month core ROE †† of 17.0%, in line with the 2027 core ROE target of 17%+ EPS of $3.43 (+62% YoY) and trailing-12-month ROE 1 of 14.7% Strong sales 2 momentum in Canada and the U.S. with total AUM 2 and AUA 2 of $274 billion 3 at June 30, 2025 (+16% in the last 12 months) Organic capital generation 2 of $200 million, on track to reach the 2025 target of $650+ million, 4 supporting robust capital position Book value per common share 5 reaching $76.02 at June 30, 2025, up 2% over 3 months and 9% over 12 months Quarterly dividend to common shareholders increased by 10% to $0.9900, payable during the third quarter Announcement on July 28, 2025 of iA's intent to acquire RF Capital Group Inc. to drive scalable growth in wealth distribution QUEBEC CITY--(BUSINESS WIRE)--For the second quarter ended June 30, 2025, iA Financial Group (TSX: IAG) recorded core diluted earnings per common share (EPS) †† of $3.49, which is 27% higher than the same period in 2024 and well above the medium-term annual average growth target of 10%+. 4 Core return on common shareholders' equity (ROE) †† for the trailing 12 months was 17.0%, in line with the 2027 target of 17%+. 4 Second quarter net income attributed to common shareholders was $321 million, diluted EPS was $3.43 and ROE for the trailing 12 months was 14.7%. The solvency ratio 6 was 138% 3 at June 30, 2025, highlighting a strong capital position. 'We are proud of our very strong second-quarter results, which reflect the effectiveness of our diversified business model and the disciplined execution of our growth strategy across all of our operating segments,' commented Denis Ricard, President and CEO of iA Financial Group. 'We remain focused on strategic capital deployment, including our intention to acquire RF Capital Group, an active share buyback program, and a 10% increase in our common share dividend, all aligned with our commitment to delivering long-term value to our shareholders.' 'Our financial results reflect strong profitability, driven by significant experience gains across several business units, leading to a year-over-year increase of 27% in core EPS †† and a core ROE †† of 17.0%, which is already in line with our 2027 target,' added Éric Jobin, Executive Vice-President, CFO, and Chief Actuary. 'The strong earnings we delivered this quarter translated into record quarterly organic capital generation of $200 million, further strengthening our capital position and giving us the flexibility to pursue strategic growth opportunities.' Other Financial Highlights June 30, 2025 March 31, 2024 December 31, 2024 June 30, 2024 Return on common shareholders' equity (trailing 12 months) 14.7 % 13.0 % 13.9 % 11.1 % Core return on common shareholders' equity †† (trailing 12 months) 17.0 % 16.1 % 15.9 % 15.0 % Solvency ratio 138% 132% 139% 141 % Book value per common share $76.02 $74.62 $73.44 $69.92 Assets under management and assets under administration (in billions) 7 $273.8 $264.0 $261.3 $236.9 Please refer to page 2 for footnotes. Expand Footnotes for page 1: 1 Consolidated net income attributed to common shareholders divided by the average common shareholders' equity for the period. 2 Sales, assets under management (AUM), assets under administration (AUA), capital available for deployment and organic capital generation represent supplementary financial measures. Refer to the 'Non-IFRS and Additional Financial Measures' section in this document and in the Q2/2025 Management's Discussion and Analysis for more information. 3 As at June 30, 2025, on a pro forma basis taking account the impact of the proposed RF Capital acquisition on July 28, 2025, total AUA and AUM are estimated at more than $314 billion, the solvency ratio is estimated at 132% and capital available for deployment is estimated at $0.9 billion. See the 'Non-IFRS and Additional Financial Measures' and 'Forward-Looking Statements' sections of this news release. 4 See the 'Financial Targets' and 'Forward-Looking Statements' sections of this news release. 5 Book value per common share is calculated by dividing the common shareholders' equity, which represents the total equity less other equity instruments, by the number of common shares outstanding at the end of the period. 6 The solvency ratio is calculated in accordance with the Capital Adequacy Requirements Guideline – Life and Health Insurance (CARLI) mandated by the Autorité des marchés financiers du Québec (AMF). This financial measure is exempt from certain requirements of Regulation 52-112 respecting Non-GAAP and Other Financial Measures Disclosure according to AMF Blanket Order No. 2021-PDG-0065. 7 In Q2/2025, the 2024 assets under administration figures were adjusted to reflect refinements in consolidation adjustments between the Company and one of its subsidiaries. Expand Unless otherwise indicated, the results presented in this document are in Canadian dollars and are compared with those from the corresponding period last year. ANALYSIS OF EARNINGS BY BUSINESS SEGMENT The following table sets out the core earnings † and net income attributed to common shareholders by business segment. An analysis of the performance by business segment and a reconciliation between the net income attributed to common shareholders and core earnings † for each business segment is provided in the following pages. Net income attributed to common shareholders for the Insurance, Canada segment was $130 million, which is higher than $97 million for the same period in 2024. Net income attributed to common shareholders is composed of core earnings † as well as core earnings adjustments. Core earnings adjustments to net income totalled $3 million. These include acquisition-related items ($5 million), impact of non-core pension expenses ($3 million) and a reallocation for reporting consistency, which sums to zero on a consolidated basis ($1 million). These items were partly offset by a gain resulting from assumption changes and management actions ($6 million). Core earnings † for this business segment were $133 million, higher than $106 million for the same period in 2024. This 25% increase in core earnings † over the same period in 2024 is the net result of several items. Expected insurance earnings 8 were 8% higher, mainly reflecting an increase in expected earnings on Premium Allocation Approach (PAA) 8 business from iA Auto and Home and an increase in the combined risk adjustment (RA) release 8 and CSM recognized for services provided. 8 Additionally, core insurance experience gains 8 of $31 million were recorded during the quarter, mainly due to favourable morbidity experience in Employee Plans, favourable mortality experience in Individual Insurance and lower claims at iA Auto and Home. Core non-insurance activities 8 were also higher than the same period a year earlier, mainly driven by good earnings growth from Dealer Services. In addition, lower core other expenses 8 were recorded for the quarter. Lastly, these favourable items were partially offset by the impact of new insurance business 8 from Employee Plans due to higher confirmed sales compared to a year ago. Wealth Management Net income attributed to common shareholders for the Wealth Management segment was $105 million, which is higher than $91 million for the same period in 2024. Net income attributed to common shareholders is composed of core earnings † as well as core earnings adjustments. Core earnings adjustments to net income totalled $8 million from acquisition-related items ($7 million) and the impact of non-core pension expenses ($1 million). Core earnings † for this business segment were $113 million for the second quarter compared with $98 million a year ago. The 15% increase in core earnings † over the same period in 2024 is mainly the result of an increase in the combined RA release and CSM recognized for service provided due to strong net segregated fund sales and the impact of favourable financial market performance over the last 12 months. Also, core non-insurance activities were slightly higher, mainly reflecting higher net revenue on assets in Group Savings and Retirement and at iA Clarington (mutual funds). US Operations Net income attributed to common shareholders for the US Operations segment was $55 million, which is higher than $8 million for the same period in 2024. Net income attributed to common shareholders is composed of core earnings † as well as core earnings adjustments. Core earnings adjustments to net income totalled a net gain of $19 million from a favourable adjustment to Vericity's deferred tax assets related to tax losses incurred prior to the acquisition ($30 million), partly offset by acquisition-related items ($10 million) and a small unfavourable tax-related item dating back prior to 2025 ($1 million). Core earnings † for this business segment were $36 million, compared to $22 million for the same period in 2024. The 64% increase in core earnings † over the same period in 2024 is driven by the following: A strong $28 million 9 increase in the core insurance service result, 10 which is the result of an increase in the combined RA release and CSM recognized for service provided, mainly due to the addition of Vericity and Prosperity; the lower impact of new insurance business; and core insurance experience gains of $6 million from favourable mortality experience in Individual Insurance; A $1 million 9 increase in core non-insurance activities, driven by higher earnings from Dealer Services; and An increase in core other expenses, as expected following the addition of Vericity expenses. Note that the impact of the Vericity and Prosperity acquisitions for the second quarter is slightly positive on core earnings † and in line with expectations set at the time of their acquisition. Investment Net income attributed to common shareholders for the Investment segment was $103 million, which is higher than $63 million for the same period in 2024. Net income attributed to common shareholders is composed of core earnings † as well as core earnings adjustments. Core earnings adjustments to net income totalled a net gain of $1 million, as a result of the following items: the market-related impacts that differ from management's expectations, totalling a net loss of $1 million as the favourable impacts from equity variations of $74 million, primarily from the good performance of public equity, were more than offset by the unfavourable impacts of interest rate and credit spread variations of $45 million, CIF adjustments of $5 million, and $25 million from investment properties, mostly driven by unfavourable market value adjustments; and favourable other adjustments totalling $2 million consisting of a tax-related item and a reallocation for reporting consistency which sum to zero on a consolidated basis. Core earnings † for this business segment were $102 million, which is higher than $91 million in 2024. Prior to taxes, financing charges on debentures and dividends, core earnings † were driven by a core net investment result 10 of $127 million. This result compares favourably with $108 million recorded a year ago, reflecting, among other factors, the favourable impact of interest rate variations in recent quarters. In addition, favourable credit experience 10 resulted in a $4 million gain due to higher impacts from upgrades than downgrades in the fixed income portfolio ($2 million) and positive credit experience in the car loans portfolio of iA Auto Finance ($2 million). Corporate The net loss attributed to common shareholders for the Corporate segment was $72 million compared to $53 million for the same period in 2024. The net loss attributed to common shareholders is composed of core losses † as well as core loss adjustments. Core loss adjustments to net loss for this business segment totalled $15 million. These include integration charges related to the acquisitions of Vericity and Global Warranty ($1 million) and a charge related to the pension plan ($14 million). The latter was the result of a management action to allocate a portion of the pension plan surplus in the form of a one-time increase in benefits to current retirees and a temporary reduction in contributions for active members. This initiative stems from the favourable surplus position of our pension plan. The one-time increase in benefits to current retirees had an impact of $14 million on second quarter earnings, while the charge resulting from the temporary reduction in contributions had no impact on second quarter earnings and is expected to have an impact of about $4 million in each of the next four quarters. This segment recorded core losses † from after-tax expenses of $57 million, which compares with $50 million in the second quarter of 2024. Before taxes, Corporate core other expenses were $79 million. This amount is composed of $68 million in core other expenses before taxes, which reflects ongoing strong emphasis on operational efficiency leading to positive operating leverage, 11 and a higher provision of $11 million before taxes for variable compensation related to the Company's performance since the beginning of 2025. RECONCILIATION OF NET INCOME ATTRIBUTED TO COMMON SHAREHOLDERS AND CORE EARNINGS † The following table presents net income attributed to common shareholders and the adjustments that account for the difference between net income attributed to common shareholders and core earnings. † Core earnings † of $327 million in the second quarter are derived from net income attributed to common shareholders of $321 million and a total adjustment of $6 million (post tax) from: the market-related impacts that differ from management's expectations, totalling a net loss of $1 million. This adjustment is explained by the favourable impacts from equity variations of $74 million, primarily from the good performance of public equity. However, these gains were more than offset by the sum of the unfavourable impacts of interest rate and credit spread variations of $45 million, CIF adjustments of $5 million, and $25 million from investment properties, mostly driven by unfavourable market value adjustments; the net favourable impact of assumption changes and management actions of $22 million as a net result of the following items: 1) a favourable adjustment of $30 million to Vericity's deferred tax assets related to tax losses incurred prior to the acquisition; 2) assumption changes and management actions in the Insurance, Canada segment that resulted in a net gain of $6 million; and 3) a management action related to the pension plan, which unfavourably impacted the Corporate segment by $14 million (refer to the 'Corporate' subsection above for more details); a total charge of $3 million mainly related to the integration of Vericity and Global Warranty; expenses associated with acquisition-related intangible assets of $20 million; and the impact of non-core pension expenses of $4 million. Contractual Service Margin (CSM) 13 – During the second quarter, the CSM increased organically by $140 million. This increase is due to the positive impact of new insurance business of $195 million, organic financial growth of $93 million and net insurance experience gains of $52 million, partly offset by the CSM recognized for service provided in earnings of $200 million, up 18% from a year earlier. Non-organic items led to an increase in the CSM of $68 million during the second quarter, mostly due to the favourable impact of market variations. As a result, the total CSM increased by $208 million (+3%) during the quarter to stand at $7,140 million at June 30, 2025, an increase of 10% over the last 12 months. Business growth – During the second quarter of 2025, almost all business units recorded good sales growth compared to the same period last year. Sales growth was particularly high for Individual Insurance in both Canada and the U.S., as well as in Dealer Services in Canada, iA Auto and Home and segregated funds. In Canada, Individual Insurance sales were strong at $103 million, and the Company maintained a leading position for the number of policies sold. 14 In the Wealth Management segment, the Company continued to rank first for both gross and net segregated fund sales, 15 with net inflows totalling $670 million. Sales results in both US Operations units were solid. Good sales contributed to the 4% increase in net premiums, 16 premium equivalents and deposits, 16 totalling nearly $5.1 billion, compared to the same period last year. Also, total assets under management and total assets under administration amounted to approximately $274 billion, an increase of 16% over the last 12 months. INSURANCE, CANADA In Individual Insurance, second quarter sales totalled $103 million, a 5% increase over a strong quarter a year earlier. This very good result reflects the strength of all our distribution networks, the excellent performance of our digital tools, as well as our comprehensive and distinctive range of products. Sales were notably strong for participating insurance. The Company maintained its leading position in the Canadian market for the number of policies issued. 17 In Group Insurance, second quarter sales in Employee Plans totalled $8 million compared to $25 million in the same quarter last year. This result is largely attributed to a lower volume of quoting activities in the prior months. Note that sales in this business unit vary considerably from one quarter to another based on the size of the contracts sold. On a year-to-date basis, Employee Plans sales were 42% higher than last year. Net premiums, premium equivalents and deposits increased by 9% year over year, benefiting from premium increases on renewals. Special Markets sales reached $99 million, a result similar to the previous year. For Dealer Services, total sales ended the second quarter at $225 million, 16% higher than the same period in 2024. This growth was supported by P&C Insurance sales growth of 26% year over year, notably from the addition of sales from the acquisition of the Global Warranty business completed in the first quarter. At iA Auto and Home, direct written premiums reached $206 million in the second quarter, a strong increase of 10% compared to the same period last year. This good business growth is the result of an increased number of policies as well as recent price adjustments. WEALTH MANAGEMENT In Individual Wealth Management, sales of segregated funds were strong during the second quarter, with gross sales totalling $1.4 billion, an 8% year-over-year increase, and net sales of $670 million. The Company continued to rank first in Canada in gross and net segregated fund sales. 18 This robust performance was notably driven by the strength of our distribution networks and our competitive and comprehensive product lineup. Additionally, clients continued to favour asset classes with higher return potential over guaranteed investments. In this context, sales of other savings products reached $428 million in the second quarter, compared to a strong quarter of $541 million a year earlier. Gross sales of mutual funds totalled $442 million for the quarter, compared to $468 million in the same quarter last year. Net outflows of $165 million were recorded, compared to outflows of $194 million in the second quarter of 2024. Group Savings and Retirement sales for the second quarter totalled $821 million and were 4% lower than a year earlier, as growth in accumulation product sales was offset by the decrease in insured annuities sales. Total assets under management at the end of the quarter were 18% higher than a year earlier. US OPERATIONS In Individual Insurance, quarterly sales reached a record US$78 million, 59% higher than a year earlier. This solid result is driven by good growth in the final expense and middle/family markets and the addition of sales from the Vericity acquisition. These results underscore our potential for strong growth in the U.S. life insurance market, both organically and through acquisitions. In Dealer Services, second quarter sales of US$296 million were up 6% over the same period last year. This good result reflects the quality of our products and services as well as the effectiveness and diversity of our distribution channels. ASSETS UNDER MANAGEMENT AND ASSETS UNDER ADMINISTRATION Assets under management and administration totalled nearly $274 billion at the end of the second quarter, up 16% over the last 12 months and up 4% during the quarter. This growth was mainly driven by the performance of financial markets and high net segregated fund inflows. NET PREMIUMS, PREMIUM EQUIVALENTS AND DEPOSITS Net premiums, premium equivalents and deposits amounted to nearly $5.1 billion in the second quarter, a 4% increase over the same period last year, driven by all business units in the Insurance, Canada and U.S. Operations segments. FINANCIAL POSITION The Company's solvency ratio was 138% 19 at June 30, 2025, compared with 132% at the end of the previous quarter and 141% a year earlier. This result is well above the regulatory minimum ratio of 90%. The six-percentage-point increase during the quarter was mainly driven by the favourable impact of organic capital generation and the preferred share issuance completed on June 23, 2025, as outlined below in this section. The Company's financial leverage ratio †† of 16.9% at June 30, 2025 compares to 14.8% at the end of the previous quarter. Organic capital generation and capital available for deployment – The Company organically generated $200 million in additional capital during the second quarter. After six months, $325 million has been generated organically, which is in line with projections to reach the annual target of $650M+ in 2025. At June 30, 2025, the capital available for deployment was assessed at $1.5 billion. 19 Book value – The book value per common share was $76.02 at June 30, 2025, up 2% during the quarter and 9% during the last 12 months. Capital issuance – On June 23, 2025, the Company closed its offering of 6.435% Non-Cumulative 5-Year Rate Reset Class A Preferred Shares Series C by way of a prospectus supplement to the short form base shelf prospectus dated April 25, 2024. The shares were issued for aggregate gross proceeds of $400 million and will pay fixed dividends at a rate of 6.435% per annum, payable semi-annually, as and when declared by the Board of Directors of the Company, for the initial period ending on, but excluding, June 30, 2030. Thereafter, the dividend rate of the shares will reset every five years at a rate per annum equal to the prevailing 5‑year Government of Canada Yield, plus 3.40%. Normal Course Issuer Bid (NCIB) – During the second quarter of 2025, the Company repurchased and cancelled 535,400 outstanding common shares for a total value of $73 million under the NCIB program. Under the current NCIB in force from November 14, 2024 to November 13, 2025, the Company can repurchase up to 4,694,894 common shares, representing approximately 5% of the issued and outstanding common shares as at October 31, 2024. Since November 14, 2024, 1,358,000 shares, or 1.4% of the outstanding common shares, have been repurchased and cancelled. Therefore, the Company may repurchase up to 3,336,894 outstanding common shares between June 30, 2025 and November 13, 2025. Dividend – The Company paid a quarterly dividend of $0.9000 per share to common shareholders in the second quarter of 2025. The Board of Directors approved a quarterly dividend of $0.9900 per share payable during the third quarter of 2025, representing an increase of $0.09 per share or 10% compared to the dividend paid in the previous quarter. This dividend is payable on September 15, 2025 to the shareholders of record at August 22, 2025. Dividend Reinvestment and Share Purchase Plan – Registered shareholders wishing to enroll in iA Financial Group's Dividend Reinvestment and Share Purchase Plan (DRIP) so as to be eligible to reinvest the next dividend payable on September 15, 2025 must ensure that the duly completed form is delivered to Computershare no later than 4:00 p.m. on August 15, 2025. Enrolment information is provided on iA Financial Group's website at under About iA, in the Investor Relations/Dividends section. Common shares issued under iA Financial Group's DRIP will be purchased on the secondary market and no discount will be applicable. Annual Meetings – The Annual Shareholder Meeting of the Company and the Annual Meeting of the Sole Common Shareholder and of the Participating Policyholders of Industrial Alliance Insurance and Financial Services Inc. were held on Thursday, May 8, 2025. At the Annual Meeting of the Company, all thirteen nominated directors were elected by the shareholders. Awards: iA Financial Group was recognized by Forbes magazine as Canada's best auto insurance provider in its 2025 'World's Best Auto Insurance Companies' list. The ranking is based on a global survey of over 45,000 consumers, evaluating, among other things, satisfaction, loyalty, advice, transparency and claims handling. This recognition reflects the trust clients place in iA Auto and Home. On June 30, 2025, iA Financial Group was named one of Canada's 50 Best Corporate Citizens by Corporate Knights, marking its second consecutive year on the list. The prestigious ranking highlights the Company's leadership in sustainability, with notable achievements in sustainable revenue, gender diversity on its Board and wellbeing and personal development initiatives. iA Auto Finance secured second place for the fifth consecutive year in the non-captive non-prime segment of the J.D. Power 2025 Canada Dealer Financing Satisfaction Study, reflecting strong performance in areas like sales representative relationships, responsiveness and funding efficiency. Unsolicited mini-tender offer – On May 7, 2025, iA Financial Group issued a press release warning about an unsolicited mini-tender offer made by Ocehan LLC to purchase up to 50,000 of its common shares at a price of $93.30 per share, which represented a discount of approximately 29.84% to the closing price of iA Financial Group's common shares on the TSX as of May 6, 2025. The press release noted, among other things, that iA Financial Group was not associated with Ocehan LLC and did not recommend or endorse acceptance of this restricted tender offer in any way. For additional information, please refer to the press release, which can be found on our website at Philanthropy – iA Financial Group donated $50,000 in June to the Canadian Red Cross in support of the 2025 Manitoba Wildfires Appeal. This contribution aims to provide immediate and ongoing relief to those affected, including financial assistance, support for evacuees and risk reduction for future all-hazard disaster events in these regions. Subsequent to the second quarter: Acquisition of RF Capital Group Inc. – On July 28, 2025, iA Financial Group announced that it had entered into a definitive agreement with RF Capital Group Inc. (RF Capital), pursuant to which iA Financial Group will acquire all of the issued and outstanding common shares of RF Capital for $20.00 per share in cash, for a total purchase price of $597 million. Upon completion, this acquisition is expected to add over $40 billion in assets under administration and significantly expand iA's presence in the high-net-worth segment. RF Capital advisors will continue operating independently under the Richardson Wealth brand, 20 supported by iA Financial Group's financial strength and digital platforms. The transaction is expected to be neutral to core earnings † in the first year and accretive to core EPS †† by at least $0.15 in the second year and to have the following impacts: Solvency ratio: -6 percentage points Capital available for deployment: -$0.6 billion Financial leverage ratio ††: no impact See the 'Non-IFRS and Additional Financial Measures' and 'Forward-Looking Statements' sections of this news release. For additional information, please refer to the press release, which can be found on our website at AMF Capital Adequacy Requirements Guideline – A revised Capital Adequacy Requirements for Life and Health Insurance (CARLI) Guideline became effective on January 1, 2025. The new CARLI guideline includes, among other things, revisions related to the regulatory capital requirements for segregated fund guarantees. As allowed by the AMF for insurers, the Company applied the previous version of the guideline during the first half of 2025. As of July 1, 2025, the revised guideline allows for the explicit recognition of the CSM related to segregated funds, the impact of which is expected to be slightly positive on the capital available for deployment and increase the solvency ratio sensitivity to public market variations, while remaining within our risk tolerance. Philanthropy – iA Financial Group and its U.S. subsidiaries donated $75,000 to the Community Foundation of the Texas Hill Country to support those affected by flash flooding in Texas. The funds will provide immediate and ongoing relief, including financial aid and support for evacuees and the communities hosting them. Expand FINANCIAL TARGETS The table below presents the progress towards achieving the Company's annual and medium-term targets. NON-IFRS AND ADDITIONAL FINANCIAL MEASURES iA Financial Corporation reports its financial results and statements in accordance with IFRS ® Accounting Standards. The Company also publishes certain financial measures or ratios that are not presented in accordance with IFRS. The Company uses non-IFRS and other financial measures when evaluating its results and measuring its performance. The Company believes that such measures provide additional information to better understand its financial results and assess its growth and earnings potential, and that they facilitate comparison of the quarterly and full year results of the Company's ongoing operations. Since such non-IFRS and other financial measures do not have standardized definitions and meaning, they may differ from similar measures used by other institutions and should not be viewed as an alternative to measures of financial performance, financial position or cash flow determined in accordance with IFRS. The Company strongly encourages investors to review its financial statements and other publicly filed reports in their entirety and not to rely on any single financial measure. Non-IFRS financial measures include core earnings (losses). Non-IFRS ratios include core earnings per common share (core EPS); core return on common shareholders' equity (core ROE); core effective tax rate; core dividend payout ratio; and financial leverage ratio. Supplementary financial measures include return on common shareholders' equity (ROE); components of the CSM movement analysis (organic CSM movement, impact of new insurance business, organic financial growth, insurance experience gains (losses), impact of changes in assumptions and management actions, impact of markets, currency impact); components of the drivers of earnings (in respect of both net income attributed to common shareholders and core earnings); assets under management; assets under administration; capital available for deployment; dividend payout ratio; total payout ratio (trailing 12 months); organic capital generation; sales; net premiums; and premium equivalents and deposits. For relevant information about non-IFRS measures, see the 'Non-IFRS and Additional Financial Measures' section in the Management's Discussion and Analysis (MD&A) for the period ending June 30, 2025, which is hereby incorporated by reference and is available for review on SEDAR+ at or on iA Financial Group's website at A reconciliation of net income attributed to common shareholders to core earnings by business segment is included below. For a reconciliation on a consolidated basis, see the 'Reconciliation of Net Income Attributed to Common Shareholders and Core Earnings' section above. This document also makes reference to certain pro forma financial information, including pro forma supplementary financial measures giving effect to the proposed acquisition of RF Capital, including total AUA and AUM, solvency ratio and capital available for deployment. These measures do not have standardized definitions and meaning; they may differ from similar measures used by other institutions and should not be viewed as an alternative to measures determined in accordance with IFRS. Pro forma information as regards RF Capital is based upon information made publicly available by RF Capital and upon non-public information made available by RF Capital to the Company. Such information has not been verified independently by the Company. Accordingly, an unavoidable level of risk remains regarding the accuracy and completeness of such information, including with respect to facts or circumstances that would affect the completeness or accuracy of such information and which are unknown to the Company. See 'Forward-Looking Statements'. Net Income and Core Earnings † Reconciliation – Wealth Management (In millions of dollars, unless otherwise indicated) Second quarter Year-to-date at June 30 2025 2024 Variation 2025 2024 Variation Net income attributed to common shareholders 105 91 15% 200 179 12% Core earnings adjustments (post tax) Market-related impacts — — — — Assumption changes and management actions — — — — Charges or proceeds related to acquisition or disposition of a business, including acquisition, integration and restructuring costs — — — — Amortization of acquisition-related finite life intangible assets 7 6 14 12 Non-core pension expense 1 1 2 2 Other specified unusual gains and losses — — 3 — Total 8 7 19 14 Core earnings † 113 98 15% 219 193 13% Expand Net Income and Core Earnings † Reconciliation – US Operations (In millions of dollars, unless otherwise indicated) Second quarter Year-to-date at June 30 2025 2024 Variation 2025 2024 Variation Net income attributed to common shareholders 55 8 588% 74 20 270% Core earnings adjustments (post tax) Market-related impacts — — — — Assumption changes and management actions (30) — (30) — Charges or proceeds related to acquisition or disposition of a business, including acquisition, integration and restructuring costs 2 7 2 7 Amortization of acquisition-related finite life intangible assets 8 7 17 14 Non-core pension expense — — — — Other specified unusual gains and losses 1 — 3 — Total (19) 14 (8) 21 Core earnings † 36 22 64% 66 41 61% Expand Net Income and Core Earnings † Reconciliation – Investment (In millions of dollars, unless otherwise indicated) Second quarter Year-to-date at June 30 2025 2024 Variation 2025 2024 Variation Net income attributed to common shareholders 103 63 63% 138 163 (15%) Core earnings adjustments (post tax) Market-related impacts 1 27 64 18 Interest rates and credit spreads 45 15 29 12 Equity (74) (21) (15) (53) Investment properties 25 31 41 54 CIF 23 5 2 9 5 Currency — — — — Assumption changes and management actions — 1 (5) (4) Charges or proceeds related to acquisition or disposition of a business, including acquisition, integration and restructuring costs — — — — Amortization of acquisition-related finite life intangible assets — — — — Non-core pension expense — — — — Other specified unusual gains and losses (2) — (10) — Total (1) 28 49 14 Core earnings † 102 91 12% 187 177 6% Expand Net Income and Core Earnings † Reconciliation – Corporate (In millions of dollars, unless otherwise indicated) Second quarter Year-to-date at June 30 2025 2024 Variation 2025 2024 Variation Net income to common shareholders (72) (53) (36%) (122) (103) (18%) Core earnings (losses) adjustments (post tax) Market-related impacts — — — — Assumption changes and management actions 14 — 14 — Charges or proceeds related to acquisition or disposition of a business, including acquisition, integration and restructuring costs 1 3 3 4 Amortization of acquisition-related finite life intangible assets — — — — Non-core pension expense — — — — Other specified unusual gains and losses — — — — Total 15 3 17 4 Core earnings (losses) † (57) (50) (14%) (105) (99) (6%) Expand Core Earnings † to Net Income Attributed to Common Shareholders Reconciliation According to the DOE – Consolidated (In millions of dollars, unless otherwise indicated) Core earnings †,24 Reclassifications 25 Income per financial statements Core earnings adjustments 23 Net investment result Other 2025 2024 Variation 2025 2025 2025 2025 2024 Variation Insurance service result 341 267 28% (1) — — 340 267 27% Net investment result 127 108 18% — 62 — 189 142 33% Non-insurance activities or other revenues per financial statements 97 87 11% 6 (25) 408 486 432 13% Other expenses and financing charges on debentures 26 (146) (123) (19%) (54) (37) (408) (645) (575) (12%) Core earnings † or income per financial statements, before taxes 419 339 24% (49) — — 370 266 39% Income taxes or income tax (expense) recovery (86) (64) 43 — — (43) (52) Dividends/Distributions on other equity instruments 27 (6) (8) (6) (8) Core earnings † or net income attributed to common shareholders per financial statements 327 267 22% (6) — — 321 206 56% Expand Forward-Looking Statements This document may contain statements that are predictive or otherwise forward-looking in nature, that depend upon or refer to future events or conditions, or that include words such as 'may', 'will', 'could', 'should', 'would', 'suspect', 'expect', 'anticipate', 'intend', 'plan', 'believe', 'estimate', and 'continue' (or the negative thereof), as well as words such as 'financial targets', 'objective', 'goal', 'guidance', 'outlook' and 'forecast', or other similar words or expressions. Such statements constitute forward-looking statements within the meaning of securities laws. In this document, forward-looking statements include, but are not limited to, information concerning possible or future operating results, strategies, and financial and operational outlook, and statements regarding the anticipated benefits of the proposed acquisition of RF Capital (including with respect to the impact of the transaction on iA's financial performance, more specifically on the Company's AUA and AUM, core earnings, core EPS, solvency ratio and capital available for deployment). These statements are not historical facts; they represent only expectations, estimates and projections regarding future events and are subject to change. Although iA Financial Group believes that the expectations reflected in such forward-looking statements are reasonable, such statements involve risks and uncertainties, and undue reliance should not be placed on such statements. In addition, certain material factors or assumptions are applied in making forward-looking statements, and actual results may differ materially from those expressed or implied in such statements. Material factors and risks that could cause actual results to differ materially from expectations include, but are not limited to: general business and economic conditions; level of competition and consolidation and ability to adapt products and services to market or customer changes; information technology, data protection, governance and management, including privacy breach, and information security risks, including cyber risks; level of inflation; performance and volatility of equity markets; interest rate fluctuations; hedging strategy risks; accuracy of information received from counterparties and the ability of counterparties to meet their obligations; unexpected changes in pricing or reserving assumptions; iA Financial Group liquidity risk, including the availability of funding to meet financial liabilities at expected maturity dates; mismanagement or dependence on third-party relationships in a supply chain context; ability to attract, develop and retain key employees; risk of inappropriate design, implementation or use of complex models; fraud risk; changes in laws and regulations, including tax laws; contractual and legal disputes; actions by regulatory authorities that may affect the business or operations of iA Financial Group or its business partners; changes made to capital and liquidity guidelines; risks associated with the regional or global political and social environment; geopolitical and trade uncertainty; climate-related risks including extreme weather events or longer-term climate changes and the transition to a low-carbon economy; iA Financial Group's ability to meet stakeholder expectations on environmental, social and governance matters; the occurrence of natural or man-made disasters, international conflicts, pandemic diseases (such as the COVID-19 pandemic) and acts of terrorism; and downgrades in the financial strength or credit ratings of iA Financial Group or its subsidiaries. Material factors and assumptions used in the preparation of financial outlooks include, but are not limited to: accuracy of estimates, assumptions and judgments under applicable accounting policies, and no material change in accounting standards and policies applicable to the Company; no material variation in interest rates; no significant changes to the Company's effective tax rate; no material changes in the level of the Company's regulatory capital requirements; availability of options for deployment of excess capital; credit experience, mortality, morbidity, longevity and policyholder behaviour being in line with actuarial experience studies; investment returns being in line with the Company's expectations and consistent with historical trends; different business growth rates per business unit; no unexpected changes in the economic, competitive, insurance, legal or regulatory environment or actions by regulatory authorities that could have a material impact on the business or operations of iA Financial Group or its business partners; no unexpected change in the number of shares outstanding; and the non‑materialization of risks or other factors mentioned or discussed elsewhere in this document or found in the 'Risk Management' section of the Company's Management's Discussion and Analysis for 2024 that could influence the Company's performance or results. Escalating U.S.–Canada trade tensions, including tariffs on automobiles and auto parts, along with U.S.–China trade frictions and retaliatory tariffs, have intensified global trade instability. Global equity markets have experienced volatility due to uncertainty around tariffs, shifting interest rate expectations, and softer-than-expected economic data. In addition, trade barriers, such as potential and actual tariffs by the U.S., may shift global growth and trade patterns and have a ripple effect on supply chains, potentially further disrupting markets. These factors could lead to reduced consumer and investor confidence, increased financial volatility, and constrained growth opportunities. Additional information about the material factors that could cause actual results to differ materially from expectations and about material factors or assumptions applied in making forward-looking statements may be found in the 'Risk Management' section of the Management's Discussion and Analysis for 2024, the 'Management of Financial Risks Associated with Financial Instruments and Insurance Contracts' note to the audited consolidated financial statements for the year ended December 31, 2024 and elsewhere in iA Financial Group's filings with the Canadian Securities Administrators, which are available for review at The forward-looking statements and outlooks in this document reflect iA Financial Group's expectations as of the date of this document. iA Financial Group does not undertake to update or release any revisions to these forward‑looking statements to reflect events or circumstances after the date of this document or to reflect the occurrence of unanticipated events, except as required by law. Forward-looking statements are presented in this document for the purpose of assisting investors and others in understanding certain key elements of the Company's expected financial results, as well as the Company's objectives, strategic priorities and business outlook, and in obtaining a better understanding of the Company's anticipated operating environment. Readers are cautioned that such information may not be appropriate for other purposes. The completion of the proposed acquisition of RF Capital is subject to customary closing conditions, termination rights and other risks and uncertainties, including, without limitation and as applicable, shareholder approval and certain regulatory approvals, and there can be no assurance that the acquisition will be completed within the intended timing or at all. There can also be no assurance that if the acquisition is completed, the strategic and financial benefits expected to result therefrom will be realized. The pro forma information set forth in this document should not be considered to be what the actual financial position or results of operations of the Company would have necessarily been had the proposed acquisition of RF Capital been completed as at or for the periods stated. Readers should not place undue reliance on pro forma information. See the 'Non-IFRS and Additional Financial Measures' section. GENERAL INFORMATION Documents Related to the Financial Results For a detailed discussion of iA Financial Group's second quarter results, investors are invited to consult the Management's Discussion and Analysis for the quarter ended June 30, 2025, the related financial statements and accompanying notes and the Supplemental Information Package, all of which are available on the iA Financial Group website at under About iA, in the Investor Relations/Financial Reports section. The Management's Discussion and Analysis and the Company's financial statements are also available on SEDAR+ at CONFERENCE CALL Management will hold a conference call to present iA Financial Group's second quarter results on Wednesday, August 6, 2025 at 11:00 a.m. (ET). To listen to the conference call, choose one of the options below: The conference call will be recorded and the replay will be available on the iA Financial Group website at under About iA/Investor Relations/Financial Reports. ABOUT iA FINANCIAL GROUP iA Financial Group is one of the largest insurance and wealth management groups in Canada, with operations in the United States. Founded in 1892, it is an important Canadian public company and is listed on the Toronto Stock Exchange under the ticker symbol IAG (common shares). iA Financial Group is a business name and trademark of iA Financial Corporation Inc. † This item is a non-IFRS financial measure; see the 'Non-IFRS and Additional Financial Measures' section and the 'Reconciliation of Select Non-IFRS Financial Measures' section in this document for relevant information about such measures and a reconciliation of non-IFRS financial measures to the most directly comparable IFRS measure. †† This item is a non-IFRS ratio; see the 'Non-IFRS and Additional Financial Measures' section in this document and in the Q2/2025 Management's Discussion and Analysis. _________________________________________________ 8 This item is a component of the drivers of earnings (DOE). Refer to the 'Non-IFRS and Additional Financial Measures' section in this document for more information on presentation according to the DOE. For a reconciliation of core earnings † to net income attributed to common shareholders through the drivers of earnings (DOE), refer to the 'Reconciliation of Select Non-IFRS Financial Measures' section of this document. 9 Before taxes. 10 This item is a component of the drivers of earnings (DOE). Refer to the 'Non-IFRS and Additional Financial Measures' section in this document for more information on presentation according to the DOE. For a reconciliation of core earnings† to net income attributed to common shareholders through the drivers of earnings (DOE), refer to the 'Reconciliation of Select Non-IFRS Financial Measures' section of this document. 11 Operating leverage is the difference between revenue growth and expense growth at a consolidated level. 12 Impact of the tax-exempt investment income (above or below expected long-term tax impacts) from the Company's multinational insurer status. 13 Components of the CSM movement analysis constitute supplementary financial measures. Refer to the 'Non-IFRS and Additional Financial Measures' section of this document and the 'CSM Movement Analysis' section of the Q2/2025 Management's Discussion and Analysis for more information on the CSM movement analysis. 14 According to the latest Canadian data published by LIMRA. 15 According to the latest industry data from Investor Economics. 16 Net premiums and premium equivalents and deposits are supplementary financial measures. Refer to the 'Non-IFRS and Additional Financial Measures' section of this document for more information. 17 According to the latest Canadian data published by LIMRA. 18 According to the latest industry data from Investor Economics. 19 As at June 30, 2025, on a pro forma basis, taking into account the acquisition of RF Capital announced on July 28, 2025, the solvency ratio is estimated at 132% and the capital available for deployment is estimated at $900 million. 20 Richardson Wealth is a trademark of James Richardson & Sons, Limited and Richardson Wealth Limited is a licensed user of the mark. 21 Within the meaning of applicable securities laws, such financial targets constitute 'financial outlook' and 'forward-looking information'. The purpose of these financial targets is to provide a description of management's expectations regarding iA Financial Group's annual and medium-term financial performance and may not be appropriate for other purposes. Actual results could vary materially as a result of numerous factors, including the risk factors referenced herein. Certain material assumptions relating to financial targets provided herein and other related financial and operating targets are described in this document. They are also described in the Investor Event 2025 presentation material available on iA Financial Group's website at under About iA, in the Investor Relations section and in other documents made available by the Company. See 'Forward-Looking Statements'. 22 The Company's dividend and distribution policy is subject to change, and dividends and distributions are declared or made at the discretion of the Board of Directors. 23 Impact of the tax-exempt investment income (above or below expected long-term tax impacts) from the Company's multinational insurer status. 24 For a breakdown of core earnings adjustments applied to reconcile to net income attributed to common shareholders, see 'Reconciliation of Net Income Attributed to Common Shareholders and Core Earnings' † above. 25 Refer to the 'Reconciliation of Select Non-IFRS Financial Measures' section of the Q2/2025 Management's Discussion and Analysis for details about these two reclassifications. These reclassifications reflect items subject to a different classification treatment between the financial statements and the drivers of earnings (DOE). 26 Starting in Q2/2025, 'financing charges on debentures' previously presented in other expenses are shown as a separate line item in the DOE and do not imply any change in the compilation methodology. See the 'Non-IFRS and Additional Financial Measures' section in this document for more information on the 'financing charges on debentures' line item. 27 Expand Contacts Investor Relations Caroline Drouin Office: 418-684-5000, ext. 103281 Email: Public Affairs Chantal Corbeil Office: 514-247-0465 Email: Industry: Finance Consulting Professional Services Asset Management Insurance More News From iA Financial Group Get RSS Feed iA Financial Group Announces the Release Date of Its 2025 Second Quarter Earnings Results QUEBEC CITY--(BUSINESS WIRE)--iA Financial Group (iA Financial Corporation Inc. (TSX: IAG) will disclose its 2025 second quarter earnings results on Tuesday, August 5, 2025, after market close. Management will discuss the results during a conference call to be held the following day, at 11:00 am (ET). Everyone is invited to attend the conference call by joining via one of the following means: Live Webcast: Click here ( or go to the iA Financial Group website,...
Business Wire
11 minutes ago
- Business Wire
iA Financial Corporation Inc. Announces 10% Increase in the Dividend on Its Common Shares
QUEBEC CITY--(BUSINESS WIRE)--The Board of Directors of iA Financial Corporation Inc. (TSX: IAG) announced today an increase of $0.09 in the dividend per outstanding common share for the quarter ended June 30, 2025, raising it to $0.9900. This dividend will be payable on September 15, 2025 to all common shareholders of record at the close of business on August 22, 2025. iA Financial Corporation Inc. reminds common shareholders who wish to enrol in iA Financial Corporation Inc.'s Dividend Reinvestment and Share Purchase Plan ('DRIP') that they must do so no later than 4:00 pm on August 15, 2025 in order to reinvest the next dividend. To enrol, go to the company's website at under About iA, in the Investor Relations/Dividends section. Please note that the common shares issued under the DRIP will be purchased on the secondary market and that no discount will apply. For the purposes of the Income Tax Act (Canada) and any corresponding provincial or territorial tax legislation, all dividends paid by iA Financial Corporation Inc. on its common shares are eligible dividends. About iA Financial Group iA Financial Group is one of the largest insurance and wealth management groups in Canada, with operations in the United States. Founded in 1892, it is an important Canadian public company and is listed on the Toronto Stock Exchange under the ticker symbol IAG (common shares). iA Financial Group is a business name and trademark of iA Financial Corporation Inc.
