iA Financial (IAG) Corporate presentation summary

Business overview and strategy

• One of Canada's largest insurance and wealth management groups, with growing U.S. operations and over 11.9 million clients, 10,000+ employees, and 50,000+ advisors.

• Focused on combining human and digital experiences, with values centered on client centricity, learning agility, inspired teams, and high performance.

• Ambition to lead in financial services by leveraging a diversified business mix and scalable distribution.

• Strategic priorities include organic growth, disciplined acquisitions, and digital transformation.

• Over 70 acquisitions since 2000, with recent U.S. expansion and integration of Vericity and RF Capital.

Financial performance and growth

• Q4 2025 core EPS of $3.10 (+2% YoY), ROE of 17.1% (trailing 12 months), and book value per share up 8% YoY.

• 2025 net premiums and deposits reached $22.0B (+8% YoY), with total AUM & AUA at $341.1B (+31% YoY).

• 10-year CAGR: core EPS 11%, reported EPS 8%, net premiums/deposits and AUM/AUA both 11%.

• Dividend payout ratio at 29.2% of core earnings, with steady increases and a Q1 2026 dividend of $0.99 per share.

• Share price CAGR of 13% and book value per share CAGR of 9% since IPO.

Capital position and allocation

• Pro forma solvency ratio of 137%, well above regulatory minimum, and $1.4B capital available for deployment.

• Ongoing organic capital generation ($700M+ expected in 2026), supporting growth and shareholder returns.

• Capital allocation priorities: organic growth, disciplined acquisitions, dividends, and share buybacks.

• 1.97x price-to-book ratio as of Feb 2026, trading at an 8% discount to peers.

• Financial leverage ratio at 16.3% (pro forma), maintaining flexibility for future investments.