iA Financial Corporation Inc. Completes Acquisition of RF Capital Group Inc.

Executive Summary

• iA Financial Corporation Inc. completed its previously announced acquisition of RF Capital Group Inc., acquiring all outstanding common and Series B preferred shares.
• The transaction was executed under a court‑approved plan of arrangement at cash consideration of C$20.00 per common share and C$25.00 per Series B preferred share (plus accrued dividends and a cash payment covering dividends through March 31 2026).
• Post‑transaction, combined assets under management/administration exceed $330 billion; iA Wealth now serves >500,000 clients with over 1,450 advisor teams, creating significant scale synergies.

Key Details

• Acquisition Structure: Completed by a wholly‑owned subsidiary of iA pursuant to an Ontario Business Corporations Act plan of arrangement.
• Consideration – Common Shares: C$20.00 per share paid in cash.
• Consideration – Series B Preferred Shares: C$25.00 per preferred share plus all accrued/unpaid dividends and a cash amount equal to dividends that would have been payable up to the next redemption date (March 31 2026).
• Payment Mechanics: Consideration remitted to TSX Trust Company, depositary under the Arrangement; shareholders receive payment after returning completed letters of transmittal.
• Delisting Schedule: Common and Series B preferred shares expected to be delisted from the Toronto Stock Exchange on or about 4 Nov 2025. RF Capital will cease to be a reporting issuer in Canada.
• Combined Scale: Total AUM/AUA > $330 billion (as of 30 Sep 2025); client base >500,000; advisor teams >1,450.
• Strategic Rationale (CEO Quote): “Creates compelling opportunities for accelerated growth… generates meaningful synergies, expanded capabilities and long‑term shareholder value.” – Denis Ricard, President & CEO, iA.
• Operational Independence: RF Capital’s advisors will retain operational independence and culture post‑integration.

Notable Quotes

• “We are proud to mark the closing of this strategic acquisition… underscores our commitment to the value of advice.” – Denis Ricard, President & CEO, iA.
• “The combination elevates our value proposition… advisor engagement has been remarkably strong.” – Stephan Bourbonnais, EVP Wealth Management, iA.
• “This marks an exciting new chapter for RF Capital… we are thrilled to join iA.” – Dave Kelly, President & CEO, RF Capital.