Sun Life Wins Sustainability Bond of the Year Award

Sun Life Sustainability Bond reflects strength of the company's new sustainability strategy

TORONTO, March 30, 2020 /PRNewswire/ - Sun Life Financial Inc. (TSX: SLF) (NYSE: SLF) is pleased to announce the company has won the corporate Sustainability Bond of the Year Award. The award reflects Sun Life's increased focus on sustainable investing, one of three pillars of the company's refreshed sustainability plan. The recognition is courtesy of Environmental Finance, a leading online news and analysis service that reports on the sustainable investing and green finance of companies active in environmental markets. Winners were selected by a panel of 30 judges made up of some of the world's largest green, social and sustainability bond investors.

"We're thrilled that Sun Life's Sustainability Bond has been named a winner for this exciting award. This is further proof that we are committed to embed sustainability into our business strategy, while positively contributing to society," said Melissa Kennedy, Executive Vice President, Chief Legal Officer & Executive Sponsor of Sustainability, Sun Life. "At Sun Life, our Purpose is to help our Clients achieve lifetime financial security and live healthier lives, and we're pleased to be recognized as a company that provides more opportunities for sustainable investing in Canada."

Last summer, Sun Life announced the issuance of C$750 million benchmark-size 10-year inaugural Sustainability Bond, the first of its kind by a life insurance company globally. Distinguishing them from green bonds, Sun Life's bond and its Sustainability Bond Framework include criteria for both green and social assets. Potentially eligible social investments focus on access to essential services, facilities and equipment that contribute to the long-term health of communities while delivering excess returns to investors, such as infrastructure investments for hospitals or childcare centers. The transaction was a success, attracting positive feedback and strong investor demand.

"This recognition from Environmental Finance is further evidence of our commitment to living our Purpose throughout all aspects of our business," said Randy Brown, Chief Investment Officer, Sun Life. "We all have a part to play in the enhancement of the health and well-being of our communities, and we're proud to make a positive impact in the way Canadians invest. As part of Sun Life's investment process, we look at all investments through an ESG lens along with other non-financial considerations related to sustainability, and hope to launch more initiatives like this in the future."

In late March, Sun Life released its 2019 Sustainability Report. The report highlights Sun Life's achievements and efforts to create a more sustainable world while delivering for Clients, employees and communities. In addition, it outlines Sun Life's new sustainability plan which focuses on three key areas where Sun Life has the greatest opportunity to drive meaningful change: increasing financial security, fostering healthier lives, and advancing sustainable investing. This is underlined by Sun Life's continued commitment to be a trusted and responsible business. For more information, visit www.sunlife.com/Sustainability.

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About Sun Life

Sun Life is a leading international financial services organization providing insurance, wealth and asset management solutions to individual and corporate Clients. Sun Life has operations in a number of 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 December 31, 2019, Sun Life had total assets under management of $1,099 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

SOURCE Sun Life Financial Inc.

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