Intact Financial arranges $150-million offering

Executive Summary

• Intact Financial Corp. has entered into an agreement for a bought-deal offering of six million non-cumulative Class A shares, Series 13, generating $150 million in aggregate gross proceeds.
• The shares are priced at $25 per share and carry a dividend yield of 5.50% per annum, payable quarterly as declared by the board.
• The net proceeds will be used for general corporate purposes, with the offering expected to close on November 12, 2025.

Key Details

• Transaction Structure: Bought-deal underwriting syndicate led by BMO Capital Markets and National Bank Capital Markets.
• Security Type: Non-cumulative Class A shares, Series 13.
• Quantity: 6,000,000 shares.
• Price: $25.00 per share.
• Gross Proceeds: $150,000,000.
• Dividend Terms: 5.50% per annum, payable quarterly, as and when declared by the board of directors.
• Redemption Terms:
  • Not redeemable prior to December 31, 2030.
  • On or after December 31, 2030, Intact may redeem shares with 30-60 days' notice at the following prices:
    • $26.00 per share if redeemed on or after Dec 31, 2030, and prior to Dec 31, 2031.
    • $25.75 per share if redeemed on or after Dec 31, 2031, and prior to Dec 31, 2032.
    • $25.50 per share if redeemed on or after Dec 31, 2032, and prior to Dec 31, 2033.
    • $25.25 per share if redeemed on or after Dec 31, 2033, and prior to Dec 31, 2034.
    • $25.00 per share if redeemed on or after Dec 31, 2034.
  • Redemption price includes all declared and unpaid dividends up to but excluding the date of redemption.
• Use of Proceeds: General corporate purposes.
• Closing Date: Expected November 12, 2025.
• Regulatory Filing: Offered under a prospectus supplement to the company's short form base shelf prospectus dated January 15, 2024.