Sagicor Financial Company Ltd. announced that it has priced a Canadian private placement offering (the ?Offering?) of CAD 250 million aggregate principal amount of 6.359% Series 2024-1 Senior Unsecured Notes due June 20, 2029 (the ?Notes?). The Notes will be direct senior unsecured indebtedness of the Company and will rank equally and ratably with all other senior unsecured and unsubordinated indebtedness of the Company from time to time outstanding. Sagicor expects the Offering to close on June 20, 2024, subject to the satisfaction of customary closing conditions.

The Notes are expected to receive credit ratings of BBB from S&P and BBB (low) from Morningstar DBRS. Sagicor intends to use the net proceeds of the Offering to repay amounts owing under the Company's term loan facility (which was incurred to fund a portion of the purchase price for the acquisition of ivari) and related transaction costs. The Notes are being offered on a private placement basis through a syndicate of agents co-led by National Bank Financial Markets and RBC Capital Markets, supported by BMO Capital Markets, Scotia Capital Inc., J.P. Morgan and Citigroup Global Markets Canada Inc. in reliance on exemptions from the prospectus requirements under applicable securities laws in certain provinces of Canada.

The Notes have not been qualified for sale to the public under applicable securities laws in Canada. This news release does not constitute an offer to sell or the solicitation of an offer to buy the Notes or any other securities of Sagicor in any jurisdiction, and is not an offer for sale within the United States of any securities of Sagicor. Securities of Sagicor, including any debt securities, may not be offered or sold in the United States absent registration under U.S. securities laws or unless exempt from registration under such laws.

The Offering described in this news release has not been and will not be registered under U.S. securities laws. Accordingly, the Notes may not be offered or sold in the United States except in certaintransactions exempt from the registration requirements under applicable U.S. securities laws. The Notes may be offered or sold in Bermuda only in compliance with the Investment Business Act 2003 of Bermuda (as amended) and non?Bermudian persons require authorization under applicable legislation to carry on business in Bermuda, which may include offering or marketing the Notes in Bermuda.

The offering memorandum and the Notes have not been and will not be registered under the laws and regulations of Bermuda, nor has any regulatory authority in Bermuda passed comment upon or approved the accuracy or adequacy of the offering memorandum.