Igm Financial Inc. · TSX:IGM
Igm Financial — Investor Presentation (September 2026)
74 slides from Igm Financial's investor presentation, September 2026
Slide 1: IGM Financial Investor Presentation
IGM Financial Investor Presentation September 2026
Slide 2: Caution concerning forward-looking statements
Caution concerning forward-looking statements Certain statements in this report, other than statements of historical fact, are forward-looking statements based on certain assumptions and reflect IGM Financial Inc.’s (IGM Financial, IGM or the Company) and, where applicable, its subsidiaries’ and str
Slide 3: Non-IFRS financial measures & other financial measures
Non-IFRS financial measures & other financial measures This report contains Non-IFRS financial measures and non-IFRS ratios that do not have standard meanings prescribed by • Non-fee-bearing assets are institutional client assets for which the Company does not earn ongoing advisory fees. These Inter
Slide 4: Documents incorporated by reference
Documents incorporated by reference This summary document is meant to discuss, not to serve as a substitute for, information included in these documents. The reader is hereby cautioned to refer to the following documents relating to IGM Financial’s results: 1. Documents related to IGM Financial’s Q2
Slide 5: Presentation sections
Presentation sections IGM Financial Overview 7 Wealth Management IG Wealth Management 19 Rockefeller Capital Management 30 Wealthsimple 34 Asset Management Mackenzie Investments 37 ChinaAMC 50 Northleaf 53 56 Appendix 5
Slide 6: Glossary
Glossary AUA Assets Under Advisement Mackenzie Mackenzie Investments AUM Assets Under Management NCI Non-controlling Interest AUM&A Assets Under Management & Advisement NCIB Normal Course Issuer Bid CAGR Compound Annual Growth Rate NTM Next Twelve Months CFP Certified Financial Planner OCI Other Com
Slide 7: Overview
- Wealth Wealth Management Asset Management Financial IGM Financial Overview This way to S better
Slide 8: A compelling wealth and asset management company built for growth
IGM Financial: A compelling wealth and asset management company built for growth • A wealth and asset management company that is built for growth • IG Wealth and Mackenzie (the “Core”) are extending their industry leadership positions • Strategic investments in complementary wealth and asset manager
Slide 9: IGM at a glance
IGM at a glance Consolidated AUM&A 2025 Adjusted EPS by segment3 1,5 $622.1B incl. strategic investments Mutual fund AUM market Top 4 $4.61 share 2 In Canada Wealth management Clients ~2 Million Employees 3,500+ 54.1% 2025 Net earnings available 6 $1,101MM to common shareholders 2025 Adjusted net ea
Slide 10: Leading Canadian wealth and asset management businesses complemented by strategic investments
Leading Canadian wealth and asset management businesses complemented by strategic investments that diversify and accelerate growth Wealth management 1 (AUA $270B 2) Asset management (AUM $457B 2) Corporate & other Publicly traded, international Comprehensive personal financial planning delivered Div
Slide 11: Strength and scale as part of the Power Corporation group
Strength and scale as part of the Power Corporation group of companies1 Wealth Asset Corp & management management other 2.5% 3 17.2% 56.0% 2 25.1% 27.8% Access to Investment Investment management Insurance Investment Benefits intellectual management sub - distribution arrangements distribution oppor
Slide 12: A differentiated growth model targeting 9%+ adjusted EPS growth
A differentiated growth model targeting 9%+ adjusted EPS1 growth and shareholder value creation2 Medium -term financial objective – IGM Financial 5 -year EPS growth 1 Core 7%+ businesses 5-year earnings CAGR 9%+ 5-year adjusted EPS CAGR1,3 1,3 Strategic 15%+ Sum -of -the -parts investments 5-year ea
Slide 13: Core businesses positioned to deliver 7%+ earnings growth
Core businesses positioned to deliver 7%+ earnings growth1 Focusing efforts on what is within our control and AUM&A ~8% growth in AUM&A 1 5% market appreciation assumption based on company asset mix ~3% average net flows rate over market cycle (~2% industry2 + ~1% share gain) 7%+ Efficiency/ex
Slide 14: Strategic investments diversify and accelerate earnings growth
Strategic investments diversify and accelerate IGM’s earnings growth and shareholder value creation1 Medium -term objectives & Target recruiting of $120MM in annual production acquired2 Target organic growth of 6-8%3 expected benefits Current capacity to scale and create operating leverage 15%
Slide 15: Broad-based growth has driven AUM&A to $622B
Broad-based growth has driven AUM&A incl. strategic investments to $622B AUM&A incl. strategic investments ($B) AUM&A growth by business 3Y CAGR 1 622 Wealth Management 21% 521 IG Wealth Management Core 15% 432 Rockefeller SI 22% 376 Wealthsimple SI 81% Asset Management 17% Mackenzie Investments Cor
Slide 16: Strong earnings growth and disciplined capital allocation support increased return of capital
Strong earnings growth and disciplined capital allocation support increased return of capital Strong adjusted EPS 1 growth ($) Return of capital to shareholders ($MM) 2Y CAGR +14% +27% YTD 2026 capital allocation 663 4.61 priorities 3 3.95 1. Invest in the core businesses; driving long-term success
Slide 17: Indicative value per share
Indicative value per share provides a broader view of IGM’s value Sum-of-the-parts valuation captures value from strategic investments that is not fully reflected in IGM’s earnings today Value methodology Value Value per Accounting 1 (P/E multiples as of July 24, 2026) ($MM) share Interest basis Sha
Slide 18: Wealth Management
Wealth Management WEALTH ROCKEFELLER % . MANAGEMENT er't#t usweecutr Wealthsimple This way to S better I ‘Wealth Manag agement ts ‘Asset Management financial
Slide 19: Accelerating growth through a clear strategy led by an experienced leadership team
Accelerating growth through a clear strategy led by an energized and experienced leadership team Targeting key high net worth and mass affluent segments by aligning our capabilities to industry wealth drivers Utilizing a segmented advice model to align IG’s best-in-class advice with Canadians’ finan
Slide 20: IG Wealth: a wealth management leader in Canada
IG Wealth: a wealth management leader in Canada with a differentiated model for growth Inspiring confidence for over 100 years • Long-standing, generational relationships with clients • Coast-to-coast, serving communities small and large; 100+ region & division offices and 150+ satellite offices • A
Slide 21: Canada's wealth and growth are concentrated in the client segments IG serves
Canada’s wealth and growth are concentrated in the client segments IG is built to serve Market opportunity1 IG Wealth Position IG AUA by client wealth band 2 (As of Dec 31, 2025) Canadian financial wealth $7.5T $13.2T ~6% overall CAGR 2024 2034 Projected 2034 financial wealth by household wealth ban
Slide 22: Best-in-class advice experience targeting key HNW segments
Best-in-class advice experience targeting key HNW segments IG regional family office advice m odel HNW client segments PLANNING SKILLS PLANNING TOOLS 1 | Business owners ~1,650 CFP/Pl. Fin Living Plan Portal Professionals Advisor Portal 2 | Professionals Team-based practices 3 | Pre-retirees
Slide 23: Entrepreneurial advisor channel focusing on industry wealth drivers
IG Wealth’s entrepreneurial advisor channel is focusing on industry wealth drivers to deliver differentiated service to HNW & mass affluent Canadians Philanthropy and Tax planning and legacy planning optimization Adults 65+ contribute ~45% of charitable donations annually 6 1 8 provinces have a comb
Slide 24: Managed solutions combine scale, performance and differentiated access
IG Wealth’s managed solutions combine scale, strong performance and differentiated access across public and private markets Managed solutions are central to IG Wealth’s Strong investment performance investment offering 8 1 % of LTM long-term gross sales¹ | 7 5 % of long-term fund assets¹ 68% of asse
Slide 25: Increasing advisor capacity and capabilities to drive profitable growth
IG Wealth is focused on increasing advisor capacity and capabilities to drive profitable growth Financial planning at the center of deep, long -term client relationships IG’s national advisor network, planning-led culture and segmented model deliver a personalized advice experience across clients’ f
Slide 26: Segmented advice aligns service to client complexity
Segmented advice aligns service to client complexity and creates capacity for growth IG AUA by client wealth band 1 ($B) > 85% of assets are Mass Affluent and HNW 2020 2024 2025 Right client, right channel EMPLOYEE CHANNEL ENTREPRENEURIAL CHANNEL Create a better experience OPPORTUNITY < $250K OPPO
Slide 27: Mortgage and insurance distribution investments producing results
Investment in our mortgage and insurance distribution businesses is producing results and broadening client relationships Mortgage funding 1 New annualized insurance premiums (Annual, $MM) (Annual, $MM) 1,193 86 74 971 Growth enhanced by focus on Growth enhanced enhancement of by focus on insurance
Slide 28: Execution driving higher advisor productivity
Execution against IG’s strategic priorities is driving higher advisor productivity across new and established practices Gross inflows per advisor recruit Gross inflows per advisor p ractice Productivity in -focus with <4 years experience ($MM) with >4 years experience 1 ($MM) 2.81 • Segmented advice
Slide 29: Stronger target-client acquisition supporting organic growth
Stronger target-client acquisition is supporting sustained organic growth Gross flows from newly acquired clients (Annual, $MM) Adjusted total gross and net flows (Annual, $MM) By client assets brought to IG Wealth Growth 1 Growth 1 Gross Inflows Net Flows 5-year 1-year 5-year 1-year Mass market Mas
Slide 30: Rockefeller Capital Management snapshot
Rockefeller Capital Management snapshot Trusted advisors to HNW/UHNW investors, businesses and institutions navigating the complexities of family and wealth Respected brand with extensive footprint Offices covering 32 markets in major U.S. wealth centres1 Founded 2 018 IGM % economic interest 17.2%
Slide 31: Unique competitive advantages
Unique competitive advantages Comprehensive service offering Elite wealth advisors uniquely positioned to serve HNW and UHNW client segments Personalized through Rockefeller brand Holistic family investment office solutions advisory Customized Proactive, tax -focused w ealth investment strategy serv
Slide 32: Client assets and key performance indicators
Client assets and key performance indicators Client assets (US$B) Key performance indicators 2 224 198 Organic growth3 target at annual rate Organic of 6-8% (excludes market 151 growth appreciation) 122 97 98 67 Selectively add advisor teams Inorganic representing ~$120MM production growth acquired4
Slide 33: IGM + Rockefeller strategic benefits
IGM + Rockefeller Capital Management strategic benefits Collaboration Distribution Create knowledge-sharing opportunities Two-way flow of world-class investment solutions between respective organizations from Rockefeller Asset Management, Mackenzie Investments and Northleaf Enhances opportunit
Slide 34: Wealthsimple snapshot
Wealthsimple snapshot Key differentiators AUA ($B) Client Count 2 (000s) 3,615 155.6 3,199 Client Majority of customer base are Millennials 2,577 111.3 2,228 2,031 Technology 1,753 Forward-looking innovation drives 64.0 business growth 31.0 18.3 597 Brand 9.3 18.4 Distinct identity, strong loyalty a
Slide 35: Winning the next generation through product innovation
Winning the next generation of clients by increasing accessibility through product innovation Focu s on product “firsts” Accessibility focus with Next -generation clients that make financial tools an innovation mindset more accessible Majority of clients are Intuitive, accessible user Wealthsimp
Slide 36: Asset Management
Asset Management JP& MACKENZIE — @ chinaame Northleaf Investments This way to S better I8M=:
Slide 37: Becoming Canada's preferred global investment management solutions provider
Strong execution to date towards becoming Canada’s preferred global investment management solutions provider and business partner Leveraging foundational qualities that provide competitive advantage within the Canadian financial advisor channel and provide avenues to expand distribution reach Drivin
Slide 38: Mackenzie Investments: A leading Canadian asset manager
Mackenzie Investments: A leading Canadian asset manager with world-class investment capabilities and global reach Key stats Institutional and Retail partnerships Founded 1967 Regions served Total AUM 1,2 $269B Background Investment solutions provider Partnerships with wealth of choice to financi
Slide 39: Mackenzie's target market is large and growing
Mackenzie Investments’ target market is large and growing Canadian financial wealth ($T) By savings vehicle 1 By distribution channel 6% 13.2 6% 13.2 Total CAGR Total CAGR 3% 3% 2.8 2.8 Deposits Bank Branches 9% 2.9 7% 2.7 Online/Discount Non -Disc. Securities 2 7.5 7.5 8% 1.6 7% 2.0 2.5 Discretiona
Slide 40: Mackenzie is committed to the success of clients and advisors
Mackenzie is committed to the success of clients and advisors Mission Creating a more invested world, together. Foundational Boutique approach and Power Group Brand Fostering Culture breadth of capabilities ecosystem leadership sustainability and talent qualities Strategic Building meaningful Develo
Slide 41: Global investment capabilities across asset classes and geographies
Global investment capabilities, diversified across asset classes and geographies Opportunity to grow client base outside of Canada Total AUM $268.8B >90% of clients are Canadian (by AUM) ~150 investment professionals in Multiple delivery vehicles Mackenzie Offices seven locations around the world
Slide 42: Leading market position in the Canadian retail advisor channel
Mackenzie has a leading market position in the Canadian retail financial advisor channel with a strong brand and advisor engagement Advisor perception study1 – mutual funds Advisor channel overall sales penetration (% of advisors actively selling fund manager’s products) Mackenzie overall results Cl
Slide 43: Opportunity to increase strategic partnerships
Meaningful opportunity to increase strategic partnerships SPOTLIGHT: Mackenzie is one of two exclusive providers to >$20B and growing wealth ~$102B strategic partner ~$61B strategic partner manager with ~7,0001 advisors and sister company and sister company Launched exclusive Mackenzie FuturePath pr
Slide 44: Three priorities to drive success across strategic mandates
Three priorities to drive success across our strategic mandates 1 Raise the bar on investment excellence 2 Build better product 3 Deliver a great service experience Priority Investment excellence with Product innovation and breadth Expanding relationships and institutional quality processes of relev
Slide 45: World-class investment talent spanning boutiques
World-class investment talent spanning 9 boutiques1 Fixed income, multi -asset and quantitative teams 2 Fundamental equity teams Lesley Marks Steve Locke Chief Investment Officer, Fixed Income, Multi-Asset & Chief Investment Officer, Equities Quantitative Strategies 1 Canadian Equity 7 Fixed Income
Slide 46: Mackenzie has a diversified suite of capabilities
Mackenzie Investments has a diversified suite of capabilities, Ensuring that there is something relevant and compelling for all client needs and across market environments Mackenzie assets by Morningstar Rating 1 In Canada, performance peer groups for Morningstar ratings are 100% One Star very bro
Slide 47: 2025 Mackenzie product launch focus on innovation
2025 Mackenzie product launch focus on innovation Theme Shelf Team Mandate Quant ETF Liquid alts Privates completion Bringing Asia and Europe track records to retail in Asia & Europe Mackenzie International All Cap Equity Fund ✓ emerging category Mackenzie Target 2027 North American IG Corporate Bon
Slide 48: Spotlight: Global Quantitative Equity boutique
Spotlight: Global Quantitative Equity boutique Background • Boston-based (added in 2017) • $42.3B1 total AUM “Holistic Quant” approach promotes all-weather performance across cycles and environments • Holistic, all-weather approach • 13-person experienced team Assets Under Management ($B) Trailblazi
Slide 49: Spotlight: bringing private asset classes to Canadian households
Spotlight: Mackenzie is on a mission to bring private asset classes, the “Missing Middle”, to Canadian households Mackenzie Northleaf AUM Mackenzie Northleaf private funds5 ($ million) OM Funds, since inception returns, data as of June 30, 2026 Private Equity Private Credit Infrastructure Multi-Asse
Slide 50: ChinaAMC snapshot
ChinaAMC snapshot Strong, supportive shareholders Founded 1998 IGM % ownership interest 27.8% AUM 2.9 T RMB/ $608B1 Qatar Holding LLC 27.8% 62.2% 10% Investment professionals 350 + Retail: 250MM + # of investors Institutional: 350K+ Strategic benefits + Enhances Mackenzie’s participation in Enab
Slide 51: Chinese investment fund industry AUM
Chinese investment fund industry AUM; is an industry leader Chinese investment fund industry Ending AUM 1 Chinese mutual fund industry top 10 long -term fund (RMB¥ Trillions) 5 -year CAD/RMB = 4.9162 p rovider m arket share CAGR • ChinaAMC’s long-term fund market share3 Money-market funds 38.6 11% d
Slide 52: ChinaAMC growth is outpacing industry expansion
ChinaAMC growth is outpacing robust industry expansion ChinaAMC AUM 1 5 -year CAGR (RMB billions) 3,014 2,908 13% Other (primarily institutional) Money-market funds Long-term funds 2,465 5 -year investment 2,283 fund AUM CAGR 2,125 17% 1 1,824 1,791 711 ChinaAMC 1,662 1,722 765 17% 17 % 1,318 550 1,
Slide 53: Northleaf snapshot
Northleaf snapshot Investors choose to work with Northleaf to access private investments in mid-market companies and assets globally Founded 2002 10 GLOBAL OFFICES IGM % economic interest 61% Northleaf offices AUM 1 $37B Investment professionals 2 300+ Institutional investors 2 375+ Private equity P
Slide 54: Integrated platform and partnerships drive capital raising growth
An integrated platform and partnerships with leading institutional investors drive capital raising growth Integrated platform focused on mid-market companies Private equity Infrastructure Private credit Value creation in companies globally Direct investments in private infrastructure Direct le
Slide 55: Northleaf's strategic partnership with IGM and Great West
Northleaf ’s strategic partnership with IGM and Great West Northleaf’s current growth …enables IGM and Great West to provide institutional global private strategy… markets solutions across wealth, asset and insurance channels Wealth and asset management Insurance and wealth management Maintain sup
Slide 56: Appendix
SoM sae Wealth Wealth Management Asset Management Appendix This way to S better
Slide 57: Clear medium-term capital allocation priorities
Clear medium-term capital allocation priorities #1 Invest in our Core businesses to position them for long-term success Strong dividend Share buybacks M&A Sustain strong current dividend Offset dilutive effect of stock Focus on investing in the #2 option program wealth and asset management businesse
Slide 58: Advancing IGM Financial's sustainability strategy
Advancing IGM Financial’s sustainability strategy Initiatives we support IGM is recognized by the following agencies and indices 58
Slide 59: Embedding AI into core workflows
IGM is embedding AI into core wealth, asset management and enterprise workflows AI is being used to elevate advisor productivity, client experience & outcomes and drive efficiency & effectiveness Leveraging a strong foundation, AI is being deployed across IG and Mackenzie with early use Improving op
Slide 60: Financial market and client investment returns
Financial market and client investment returns IGM client return index 1 Investment performance YTD at 2023 2024 2025 June 30 2 IGM Client Investment Return 9.9% 15.5% 11.9% 9.2% 2.2 2.1 Equity Markets: 2.0 1.9 Canada (S&P/TSX Composite) 11.8% 21.6% 31.7% 11.2% 1.8 1.7 U.S. (S&P 500) 26.3% 25.0% 17.
Slide 61: IG Wealth Management net flows
IG Wealth Management net flows IG Wealth Management adjusted gross and net flows1 ($MM) IG Wealth Management adjusted net flows1,2 ($B) (LTM, as at June 30, 2026) Second quarter Total net flows IGM product net flows Cash, GICs, & HISAs 4,544 5.0 3,565 3,613 3,220 3,068 2,357 2,211 2,187 2,795 1,901
Slide 62: Canadian financial assets projected to grow to $13.2 trillion by 2034
Canadian financial assets projected to grow to $13.2 trillion by 2034 Canadian financial wealth ($T) 1 By wealth band 2 By generation 13.2 13.2 0.9 Gen Z $10MM+ 2.5 Millennials 4.6 (~6% CAGR) $5MM – 10MM 7.5 Gen X (~6% CAGR) 4.5 7.5 1.9 1.0 2.5 2.0 4.2 $1MM – 5MM 1.0 (~6% CAGR) 3.2 4.6 Baby Boomers
Slide 63: IG Wealth Management – key profitability drivers
IG Wealth Management – key profitability drivers Daily average assets ($B), advisory and Key revenue & expenses as bps of product & program fee rate 1 (bps) respective driver 1 (AUA or AUM) Excludes non-fee-bearing assets Excludes non-fee-bearing assets 168.1 161.7 157.8 150.5 20.3 98.4 Advisory fee
Slide 64: Mackenzie Investments net sales
Mackenzie Investments net sales Mackenzie adjusted investment fund net flows1 ($MM) Mackenzie adjusted investment fund net flows1 ($B) (LTM, as at June 30, 2026) Second quarter Total Retail 1,669 729 8.0 409 578 363 256 187 (819) (616) (745) 6.0 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 4.0
Slide 65: Mackenzie Investments' transformation journey
Mackenzie Investments’ transformation journey Assets under management ($B) 7 -year CAGR: 21.4% 2020 – GLC Asset Management group 244.0 acquired from Canada Life 2019 – Sub-advisory 210.3 213.3 relationship with IG 195.7 92.8 185.1 186.6 Wealth Management 81.2 83.4 141.8 76.8 74.2 73.5 58.5 1 73.6 52
Slide 66: Investment boutique retail fund performance and sales
Investment boutique retail investment fund performance and sales Fixed Quant Fundamental Equity Multi -Asset Other Income Equity Core Style/Thematic Resources and Global North Global Quality Fixed Multi-Asset Cundill Growth2 Putnam3 energy evolution ChinaAMC Quantitative American Equity & Income Str
Slide 67: Raising the bar on investment excellence
Raising the bar on investment excellence: Q2, 2026 changes to bolster investment excellence, enhance talent management and drive technology enablement Mackenzie Investments’ Changes to investment Fixed income, multi-asset Boutique Approach management during Q2/26 Fundamental equity teams and quantit
Slide 68: Mackenzie Investments – key profitability drivers
Mackenzie Investments – key profitability drivers Average AUM ($B), net asset management fee Net asset management fee rates1 rate1 (bps) (as bps of respective AUM) 259.2 243.2 248.2 Sub-advisory and 230.7 AUM to Wealth 217.9 Management 73.3 72.6 70.6 69.5 98.8 Third-Party AUM 95.0 65.4 93.5 Third-pa
Slide 69: Returning capital to shareholders while strengthening financial flexibility
Returning capital to shareholders while strengthening financial flexibility Return of capital to Leverage Balanced approach to capital allocation shareholders (Debt/LTM adj. EBITDA1) ($MM) Dividends paid Gross debt / adj. EBITDA Return of capital to shareholders: 345.1 Share repurchases Net debt / a
Slide 70: Industry operating environment and net flows rates
Industry operating environment and IG and Mackenzie net flows rates Annual industry long -term net sales ($B) Long -term net flows rate as at December 31, 2025 (last twelve months trailing , % of average assets ) Total Industry Industry Asset Manager Peers Mackenzie investment funds1,2 IG net flows
Slide 71: Adjusted cash earnings & dividend payout ratio
IGM Financial adjusted cash earnings & dividend payout ratio 1,2 Dividend payout ratio 2,3 IGM Financial adjusted cash earnings (LTM) ($MM) Q2/25 Q3/25 Q4/25 Q1/26 Q2/26 LTM Adjusted Net Earnings 1 252.7 301.2 301.4 284.3 330.0 1,216.8 62% 59% Add: capitalized sales commission 28.4 29.0 29.7 30.5 31
Slide 72: 2026 expense guidance
2026 expense guidance (as presented at Q4/25) Guidance and outlook1: combined operations & support and business development expenses IGM consolidated 2 (year-over-year change) 5-year tech & ops transformation announced (2015) 6.0% 5.0% 3.8% 4.2% 4% 3.0% 4 2.2% 2.3% 3 1.7% 1.0% 2017 2018 2019 2020 20
Slide 73: Debt / LTM adj. EBITDA
IGM Financial debt / LTM adj. EBITDA1 Total Debt ($MM) Q2/25 Q3/25 Q4/25 Q1/26 Q2/26 1 Long-term Debt 2,400.0 2,400.0 2,400.0 2,400.0 2,400.0 Gross debt 2,400.0 2,400.0 2,400.0 2,400.0 2,400.0 Adjust for: Unallocated capital1, 2 (610.3) (697.7) (996.5) (1,010.9) (935.2) 2 Net debt 1,789.7 1,702.3 1,
Slide 74: Net income to adj. net income reconciliation
IGM Financial net income to adj. net income reconciliation ($MM except EPS) Q2/25 Q3/25 Q4/25 Q1/26 Q2/26 Adjusted net earnings available to common 252.7 301.2 301.4 284.3 330.0 shareholders 1 Restructuring and other charges (70.1) Great West other items (6.0) (3.1) (5.1) (0.5) (6.5) Gain on partial
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