TORONTO, Aug. 9, 2017 /PRNewswire/ - Sun Life Financial
Inc. (the "Company") (TSX: SLF) (NYSE: SLF) announced today that the Toronto Stock Exchange and the Office of the Superintendent
of Financial Institutions have approved its normal course issuer bid to purchase, for cancellation, up to 11,500,000 common
shares, representing approximately 1.9% of the 613,694,016 common shares outstanding as at July 31,
2017.
The normal course issuer bid will commence on August 14, 2017 and continue until August 13, 2018, or such earlier date as the Company completes its purchases. The average daily trading volume
on the TSX for the six months ending July 31, 2017 was 1,417,782 common shares. In accordance with
the TSX rules, the Company may purchase up to 25% of that number each trading day, subject to the TSX rules permitting block
purchases. The actual number of common shares which may be purchased, and the timing of such purchases, will be determined by the
Company. The purchases may be made through the facilities of the TSX, other Canadian stock exchanges and/or alternative Canadian
trading platforms, at prevailing market rates. Purchases may also be made by way of private agreements or share repurchase
programs under issuer bid exemption orders issued by securities regulatory authorities. Any purchases made under an exemption
order issued by a securities regulatory authority will generally be at a discount to the prevailing market price. Any common
shares purchased by the Company will be cancelled.
The Company will utilize the normal course issuer bid program to acquire common shares in order to distribute funds to
shareholders as part of the Company's overall capital management strategy.
Forward-Looking Statements
From time to time, the Company makes written or oral forward-looking statements within the meaning of certain securities laws,
including the "safe harbour" provisions of the United States Private Securities Litigation Reform Act of 1995 and applicable
Canadian securities legislation. Forward-looking statements contained in this news release include (i) statements relating to our
potential normal course issuer bid, (ii) statements that are predictive in nature or that depend upon or refer to future
events or conditions, and (iii) statements that include words such as "aim", "anticipate", "assumption", "believe", "could",
"estimate", "expect", "goal", "initiatives", "intend", "may", "objective", "outlook", "plan", "project", "seek", "should",
"strategy", "strive", "target", "will" and similar expressions. Forward-looking statements include the information concerning our
possible or assumed future results of operations. These statements represent our current expectations, estimates and projections
regarding future events and are not historical facts. Forward-looking statements are not a guarantee of future performance and
involve risks and uncertainties that are difficult to predict. Future results and shareholder value may differ materially from
those expressed in these forward-looking statements due to, among other factors, the matters set out in the Company's
management's discussion and analysis for the year ended December 31, 2016 under the heading
"Forward-looking Statements" and in the risk factors set out in the Company's annual information form for the year ended
December 31, 2016 under the heading "Risk Factors" and other factors detailed in the Company's
annual and interim financial statements and any other filings with Canadian and U.S. securities regulators, which are available
for review at www.sedar.com and www.sec.gov, respectively.
The Company does not undertake any obligation to update or revise its forward-looking statements to reflect events or
circumstances after the date of this news release or to reflect the occurrence of unanticipated events, except as required by
law.
About Sun Life Financial
Sun Life Financial is a leading international financial services organization providing a diverse range of insurance, wealth and
asset management solutions to individuals and corporate Clients. Sun Life Financial has operations in a number markets worldwide,
including Canada, the United States, the United Kingdom, Ireland, Hong Kong,
the Philippines, Japan, Indonesia, India, China, Australia, Singapore, Vietnam,
Malaysia and Bermuda. As of June 30, 2017, Sun Life
Financial had total assets under management of $944 billion. For more information please visit
www.sunlife.com.
Sun Life Financial Inc. trades on the Toronto (TSX), New
York (NYSE) and Philippine (PSE) stock exchanges under the ticker symbol SLF.
Note to Editors: All figures in Canadian dollars.
Media Relations Contact:
Kim Armstrong
Manager, Media & PR
Corporate Communications
Tel: 416-979-6207
kim.armstrong@sunlife.com
Investor Relations Contact:
Greg Dilworth
Vice-President
Investor Relations
Tel: 416-979-6230
investor.relations@sunlife.com
SOURCE Sun Life Financial Inc.