Igm Financial Inc. · TSX:IGM
Igm Financial — Investor Presentation (August 2025)
93 slides from Igm Financial's investor presentation, August 2025
Slide 1: IGM Financial Investor Presentation
IGM Financial Investor Presentation August 2025
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 International Financial Reporting Standards (IFRS) and may not be directly comparable to similar measures used by other compani
Slide 4: Non-IFRS financial measures & other financial measures
Non-IFRS financial measures & other financial measures Other items Other items for the six months ended June 30, 2025 consisted of: • ($10.0) million, including ($6.0) million recorded in the second quarter, reflecting the Company’s proportionate share of items Lifeco excludes from its base earnings
Slide 5: Documents incorporated by reference
Documents incorporated by reference This summary document and webcast are 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 F
Slide 6: Presentation sections
Presentation sections IGM Financial Overview 8 Performance Summary 18 Wealth Management IG Wealth Management 31 Rockefeller Capital Management 50 Wealthsimple 54 Asset Management Mackenzie Investments 57 ChinaAMC 70 Northleaf 73 Financial results Second Quarter 2025 76 Appendix 90 6
Slide 7: Glossary
Glossary AUM&A Assets Under Management & Advisement IG Wealth IG Wealth Management AUA Assets Under Advisement LTM Last Twelve Months AUM Assets Under Management MA Mass Affluent1 CAGR Compound Annual Growth Rate OECD Organization of Economic Cooperation and Development CFP Certified Financial Plann
Slide 8: IGM Financial Overview
I Wealth Management Asset Management Fi 1 inancia! IGM Financial Overview This way to S better
Slide 9: A compelling wealth and asset management company built for growth
IGM Financial: A compelling wealth and asset management company that is 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
Slide 10: IGM at a glance
IGM at a glance Consolidated AUM&A 2024 Adjusted EPS by segment1 $521.1B incl. strategic investments1,6 Mutual fund AUM market Top 4 $3.95 Share2 In CANADA Wealth management Clients ~2 Million Employees 3,500+ 50.9% 2024 Net earnings available $934MM 5 to common shareholders 2024 Adjusted net earnin
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 2.4% 20.5% 56.0% 2 26.7% 27.8% Access to Investment Investment management Insurance Investment Benefits intellectual management distribution distribution opportunities capital sub-
Slide 12: Acquisitions, divestments and guiding themes
Acquisitions, divestments and guiding themes August 2020 - $243MM1 Investing themes October 2020 $196MM2 1 Investing in diversified growth December 2020 $175MM May 2021 - $295MM 2 Risk smart M&A July 2021 $4.7MM3 December 2022 $40MM 3 Simplification of Power Group January 2023 - $575MM January 2023
Slide 13: Growth in consolidated AUM&A incl. strategic investments
Growth in consolidated AUM&A incl. strategic investments Where we WERE Where we ARE IGM AUM&A1 2018 (Dec 31) 2024 (Dec 31) ($B, IGM proportionate share) $86B $140B n/a $45B $1B $17B 2 $26B n/a 3 $61B $130B $24B $135B n/a $18B Consolidated AUM&A including strategic investments4 ~$200B ~$483B 1) AUM&A
Slide 14: A compelling wealth and asset management line up
A compelling wealth and asset management line up Leadership positions in Canadian wealth and asset management; diversified earnings drivers in adjacent markets Wealth management1 (AUA $217B2) Asset management (AUM $393B2) Corporate & other Publicly traded, international Comprehensive personal financ
Slide 15: Advancing IGM Financial's sustainability strategy
Advancing IGM Financials' sustainability strategy Initiatives we support IGM is recognized by the following agencies and indices 15
Slide 16: Clear medium-term capital allocation priorities
Clear medium-term capital allocation priorities #1 Invest in our Core businesses to position them for long-term success Strong dividend Share buybacks M&A Sustain strong current Offset dilutive effect of stock Focus on investing in the #2 dividend option program wealth and asset management business
Slide 17: 2025 focus
2025 focus Wealth management Asset management 2025 areas Extending our momentum targeting high-net- Focusing on investment excellence & product worth and mass affluent, solving for industry innovation, extending our distribution of focus wealth drivers and leveraging a best-in-class advantage, and e
Slide 18: Performance Summary
IGM Financial Performance Summary 18
Slide 19: Financial market and client investment returns
Financial market and client investment returns IGM client return index1 Investment performance 2025 YTD 1.9 2022 2023 2024 at Jul 31 2 1.8 IGM client investment return (9.9%) 9.9% 15.5% 5.2% 1.7 Equity Markets: 1.6 Canada (S&P/TSX Composite) (5.8%) 11.8% 21.6% 12.0% 1.5 1.4 U.S. (S&P 500) (18.1%) 26
Slide 20: Industry operating environment and IG and Mackenzie net flows rates
Industry operating environment and IG and Mackenzie net flows rates Annual industry long-term net sales Long-term net flows rate as at December 31, 2024 ($B) (last twelve month trailing, % of average assets) Mackenzie investment funds 1,2 Mackenzie retail investment funds 2 Total Industry Industry A
Slide 21: Annual net flows
Annual net flows IGM Financial consolidated annual net flows1 ($MM) Wealth management • IG Wealth 2024 Gross inflows of $14.6B; 78% of new 8,701 client gross inflows during 2024 from new $250K+ clients 7,099 • Rockefeller organic and inorganic growth of US$18.5B during 2024 • Wealthsimple grew AUA b
Slide 22: Ending AUM&A including SI proportionate share
Ending AUM&A ($B) including SI proportionate share Consolidated AUM&A incl. SI1 Wealth management Asset management 3 2 2 2 2 483.5 +24% 2023 Sub-advised AUM to Wealth Management: 2024 Q4/24 $83.4B (Q4/23 390.6 $76.8) 213.3 195.7 +16% +9% 140.4 121.2 +43% +35% 118.9 129.9 135.2 +20% +95% 94.8 17.9 44
Slide 23: Adjusted net earnings available to common shareholders by segment
Adjusted net earnings available to common shareholders1 by segment ($MM) Wealth management2 Asset management Corporate & other3 IGM consolidated4 +11% 939.0 843.1 2023 +12% 2024 477.7 428.3 +13% 350.4 310.2 +8% 102.3 110.9 8.5% 1) A non-IFRS financial measure - see Non-IFRS financial measures and ot
Slide 24: Positioned for earnings growth; returning capital to shareholders
Positioned for earnings growth and levered to markets; returning capital to shareholders Maintained solid adjusted EPS through market volatility partly Capital returned to shareholders due to focus on expense management $534MM 10-year avg. adj. EPS1 of ~$3.15 (2011-2020) 2024 dividends paid 4.05 3.9
Slide 25: Returning capital to shareholders while strengthening financial flexibility
Returning capital to shareholders while strengthening financial flexibility Return of capital to Leverage Balanced approach to capital shareholders (Debt/LTM Adj. EBITDA1) allocation ($MM) Return of capital to shareholders: Dividends Share repurchases • Dividend of $0.5625 per share declared 212.6 d
Slide 26: Confidence in achieving medium-term financial objectives
Confidence in achieving our medium-term financial objectives and creating long-term stakeholder value1 Medium-term financial objective – IGM Financial 5-year EPS growth 7%+ 2 Core businesses 5-year earnings CAGR 9%+ 5-year adjusted EPS CAGR2,3 15%+ 2,3 Strategic Sum-of-the-parts investments 5-year e
Slide 27: Core businesses medium-term financial objectives
Core businesses medium-term financial objectives1 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) 2 Efficiency/expense growt
Slide 28: Strategic investments diversify and accelerate earnings growth profile
Strategic investments diversify and accelerate earnings growth profile1 Medium-term objectives & expected benefits Target recruiting of $120M in annual production acquired2 Target organic growth of 6-8%3 Current capacity to scale and create operating leverage 15%+ 5-year earnings CAGR4 Stron
Slide 29: IGM Financial: investment highlights
IGM Financial: investment highlights Well-positioned for sustainable earnings growth through leadership positions & strong execution at IG Wealth and Mackenzie Investments Strategic investments in complimentary asset and wealth managers tilt Company toward stronger, diversified AUM&A and earnings gr
Slide 30: Wealth Management
(ES Wealth Management WEALTH ROCKEFELLER % . MANAGEMENT “se ssscus Wealthsimple This way to S better
Slide 31: Accelerating growth through a clear strategy and 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 32: A wealth management leader in Canada
A wealth management leader in Canada IG Wealth Management is in a leadership position; our unique model gives us a competitive advantage for growth Inspiring confidence for over 99 years • Long standing, generational relationships with clients • Coast-to-coast, serving communities small and large; 1
Slide 33: IG Wealth Management at a glance
IG Wealth Management at a glance Leading wealth management company in Canada; inspiring financial confidence Key statistics Total AUM&A1 $147B $6.9 Billion #1 in 9 Dealer Report Client Total AUM1 $130B Card categories4 Mortgages1 Clients ~1 Million $107 Billion #1 earned media Face value of total in
Slide 34: IG Wealth Management transformation journey
IG Wealth Management transformation journey Strategic shift to mass affluent and high-net-worth Where we WERE (Jan 1, 2018) Where we ARE (Jan 1, 2025) Where we are GOING (Jan 1, 2028) Competed for Mass and MA segments Serving MA and HNW clients with fee- Target key HNW segments through advisor expan
Slide 35: Strong advisor productivity
Strong advisor productivity Gross inflows per advisor recruit Gross inflows per advisor practice with <4 years experience ($MM) with >4 years experience1 ($MM) Productivity in-focus 2.17 • Scaling our segmented advice model to help provide consistent services to all 0.68 0.69 clients and create capa
Slide 36: New client assets brought to IG Wealth Management
New client assets brought to IG Wealth Management Gross flows from newly acquired clients (Annual, $MM) Gross flows from newly acquired clients (LTM, $B) By client assets brought to IG Wealth By client assets brought to IG Wealth 1 Growth Mass market Mass affluent HNW 5-year 1-year >$250K <$250K 4,5
Slide 37: Canadian financial assets projected to grow to $11.2 trillion by 2032
Canadian financial assets projected to grow to $11.2 trillion by 2032 Canadian financial wealth ($T) By generation By wealth band1 11.2 11.2 0.7 Gen Z $10MM+ 2.0 Millennials 3.3 (~6% CAGR) $5MM – 10MM 1.5 6.2 3.6 Gen X 6.2 (~6% CAGR) 0.5 1.8 1.7 4.1 $1MM – 5MM 0.8 (~6% CAGR) 3.0 4.6 Baby Boomers 2.2
Slide 38: Clear strategic pillars to enable long-term growth strategy
Clear strategic pillars to enable long-term growth strategy 1 2 3 Driving Elevating Investing best-in-class advice platforms, products and in people and driving experience in a segmented services that resonate with productivity through way HNW digitalization and partnerships Our goal is to help Cana
Slide 39: Best-in-class advisor value proposition
Best-in-class advisor value proposition Investment Executive’s 2024 Dealers’ Report Cards1 Strong position vs. Big 5 bank FSBs Overall Dealer Report Card rating2 Net Promoter Score Peer Avg IG Wealth Rating (out of -100 to +100) 8.8 88 8.6 8.5 8.4 8.0 8.0 8.2 8.3 8.0 8.0 76 67 38 22 0 Bank Bank Bank
Slide 40: Best-in-class advice experience targeting key HNW segments
Best-in-class advice experience targeting key HNW segments IG regional family office advice model HNW client segments PLANNING SKILLS PLANNING TOOLS 1 | Business owners ~1,650 CFP/Pl. Fin Living Plan Portal Professionals1 Advisor Portal 2 | Professionals Team based practices 3 | Pre-retirees
Slide 41: Helping clients navigate industry wealth drivers is fuelling our growth
Helping clients navigate industry wealth drivers is fuelling our growth Philanthropy and Tax planning and legacy planning optimization Adults 65+ contribute ~45% of charitable donations annually 6 1 8 provinces have combined highest tax rate > 50%2 (~$11B in 2020 from all age groups)1 HNW financial
Slide 42: Segmented advice focus allows us to scale our advice experience
Segmented advice focus allows us to scale our advice experience across the client spectrum IG AUA by client wealth band1 ($B) > 80% of assets are Mass Affluent and HNW Benefits 2018 2023 2024 Create a better experience for our current Mass Market EMPLOYEE CHANNEL ENTREPRENEURIAL CHANNEL clients wi
Slide 43: Corporate channel enabling entrepreneurial advisors and driving productivity
Corporate channel enabling entrepreneurial advisors and driving productivity 20231 Q2/252 Corporate channel enables entrepreneurial advisors to: Support mortgage and insurance needs ENTREPRENURIAL TEAM ADVICE ENTREPRENURIAL TEAM ADVICE 1 FOCUS = > $250K 1 FOCUS = > $250K • Mortgage funding up 27% vs
Slide 44: Opportunity to elevate investment, mortgage and insurance services
Significant opportunity to elevate investment, mortgage and insurance services offerings Investment Mortgage and Insurance Private Company services banking services services Advisory HNW platform expansion Advance digital origination Enhance carrier Comprehensive advisory partnerships and op
Slide 45: Well-constructed managed solutions provide advisors the best opportunity
Well-constructed managed solutions provide advisors with the best opportunity to focus on providing comprehensive financial planning 80% OF LONG-TERM GROSS SALES (LTM) 1 | 73% OF LONG-TERM FUND ASSETS 1 IG WEALTH + MANAGED SOLUTIONS FOR PORTFOLIOS UNIQUE PLANNING NEEDS iPROFILE PRIVATE IG CORE IG CL
Slide 46: Leading investment solutions managed by top global asset managers
Leading investment solutions managed by top global public and private markets asset managers with strong investment performance 73% iProfile managed of assets rated 4 or 5 stars solutions provide by Morningstar1 access to: 95% Well-constructed managed solutions by world-class asset managers PUBLIC E
Slide 47: Leading portfolio construction with public, private and alternative strategies
Leading portfolio construction with investment solutions that include public markets, private markets and alternative strategies Illustration of iProfile Global LIQUID ALTERNATIVES Neutral Balanced Model EXPANDED USE OF PRIVATE CANADIAN PRIVATE CREDIT MARKET PRIVATE EQUITY & REAL ESTATE INVESTMENTS
Slide 48: Momentum in mortgage and insurance
Momentum in mortgage and insurance Mortgage funding New annualized insurance premiums ($MM) ($MM) 74 971 833 57 Growth enhanced by focus on Growth enhanced enhancement of by focus on insurance solution advancement of breadth, sales digital origination enablement tech and strategic and elevated relat
Slide 49: Continued investment in technology, digitalization and partnerships
Continued investment in technology, digitalization and partnerships Driving a better advisor and client experience and fueling future productivity Investing in our client portal to modernize and Expanding through Fintech accelerators create an interactive, personalized user interface K E Y F E AT U
Slide 50: Rockefeller Capital Management snapshot
Rockefeller Capital Management snapshot Trusted advisors to HNW/UHNW investors, businesses and institutions navigating the complexities of family and wealth Respected brand with extensive footprint Offices covering 32 markets in major U.S. wealth centres Founded 2018 IGM % economic interest 20.5% Co
Slide 51: Unique competitive advantages
Unique competitive advantages Comprehensive service offering Elite wealth advisors uniquely positioned to serve HNW and UHNW client segments Personalized Holistic family through Rockefeller brand investment advisory office solutions Customized Proactive, tax-focused investment wealth strategy servic
Slide 52: Client assets and key performance indicators
Client assets and key performance indicators Client assets (US$B) Key performance indicators2 171 151 Organic growth3 target at annual Organic rate of 6-8% (excludes market 122 growth appreciation) 97 98 67 Selectively add advisor teams 43 Inorganic representing ~$120M production growth acquired4 pe
Slide 53: IGM + Rockefeller Capital Management strategic benefits
IGM + Rockefeller Capital Management strategic benefits Collaboration Distribution Strategic advisory1 Create knowledge-sharing Two-way flow of world-class Leverage expertise of opportunities between investment solutions from seasoned investment bankers respective organizations Rockefeller Ass
Slide 54: Wealthsimple Snapshot
Wealthsimple Snapshot Key differentiators AUA ($B) Client Count1 (000s) 84.5 2,834 2,577 Client 64.0 Majority of customer base are Millennials 2,228 2,031 1,753 Technology Forward-looking innovation drives 31.0 business growth 18.3 18.4 597 Brand 9.3 4.7 182 Distinct identity, strong loyalty and awa
Slide 55: Winning the next generation of clients through product innovation
Winning the next-generation of clients by increasing accessibility through product innovation Focus on product “firsts” Accessibility focus with Next-generation clients that make financial tools an innovation mindset more accessible ~50% of clients say Intuitive accessible user Wealthsimple was
Slide 56: Asset Management
_——— Asset Management PX MACKENZIE @ chinaame Northleaf This way to S better
Slide 57: Strong execution toward Canada's preferred 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 Canadian financial advisor channel and provide avenues to expand distribution reach Driving co
Slide 58: Mackenzie Investments at a glance
Mackenzie Investments at a glance Key stats Institutional and Retail partnerships Founded 1967 Regions served Total AUM1, 2 $225B Background Investment solutions provider Partnerships with wealth of choice to financial advisors managers >30K financial advisor Sub-advisory and institutional r
Slide 59: Mackenzie gaining ground in client engagement and market position
Mackenzie Investments is gaining significant ground in client engagement scores and market position Advisor perception study1 – mutual funds Advisor channel overall sales penetration Mackenzie overall results (% of advisors actively selling fund manager’s products) Clear 90 2013 2024 #2 Consistently
Slide 60: Mackenzie Investments' transformation journey
Mackenzie Investments’ transformation journey Assets under management Adj. Earnings before interest and taxes (“EBIT”)3 ($B) ($M) 5-year CAGR: 8.5% 5-year CAGR: GLC 9.2% 210.3 213.3 IG 345.4 344.2 2 195.7 Ex-acquisition 17.0 2019 – Sub-advisory 313.1 185.1 186.6 303.4 relationship with IG Total Weal
Slide 61: Mackenzie Investments' target market is large and growing
Mackenzie Investments’ target market is large and growing Canadian financial wealth ($T) By savings vehicle1 By distribution channel 11.2 6% 11.2 6% Total CAGR Total CAGR 3% 4% 2.7 3.1 Deposits Bank Branches 6% 2.0 Non-Disc. Securities 9% 1.9 6.2 6.2 Online/Discount 9% 7% 1.9 Discretionary 1.4 1.9 2
Slide 62: Mackenzie Investments strategy
Mackenzie Investments strategy 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 Developing presence in Winning Canadi
Slide 63: 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 Expanding relationships and institutional quality processes breadth of relev
Slide 64: Global investment capabilities, diversified across asset classes and geographies
Global investment capabilities, diversified across asset classes and geographies Opportunity to grow client base outside of Canada Total AUM $224.6B1 >90% of clients are Canadian (by AUM) Multiple delivery vehicles Multiple support services 150+ investment professionals in Mutual funds, ETFs, offe
Slide 65: World-class investment talent spanning 16 boutiques
World-class investment talent spanning 16 boutiques Lesley Marks Steve Locke Chief Investment Officer, Chief Investment Officer, Fixed Equities Income & Multi-Asset Strategies 1 Asia Nick Scott Konstantin 1 Fixed Income Boehmer Diversity of styles and 2 Betterworld Andrew Simpson 2 Global Quantita
Slide 66: Mackenzie 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 Rating1 In Canada, performance peer groups for Morningstar ratings 100% One Star are very broa
Slide 67: Meaningful opportunity to increase strategic partnerships
Meaningful opportunity to increase strategic partnerships SPOTLIGHT: Mackenzie is one of two exclusive providers to >$20B and growing ~$87B strategic partner ~$54B strategic partner wealth manager with ~7,0002 advisors and sister company1 and sister company1 Launched exclusive Mackenzie FuturePath p
Slide 68: Product innovation focused on emerging growth areas and shelf optimization
Product innovation – focused on emerging growth areas & shelf optimization Themes Liquid Shelf Team Mandate Quant ETF alts completion Global Mackenzie global dividend enhanced yield ✓ Building upon 5 star 1 Global Dividend Fund with equity & option strategy to enhance yield income Mackenzie global d
Slide 69: Spotlight: Global Quantitative Equity boutique
Spotlight: Global Quantitative Equity boutique Background • Boston-based (added in 2017) • $18B total AUM “Holistic Quant” approach promotes all-weather performance across cycles and environments • Holistic, all-weather approach • 11-person experienced team Assets Under Management ($B) Trailblazing
Slide 70: ChinaAMC snapshot
ChinaAMC snapshot Strong, supportive shareholders Founded 1998 IGM % ownership interest 27.8% AUM 2.9 T RMB/ $542B1 Qatar Holding LLC 27.8% 62.2% 10% Investment professionals 250+ Retail: 210M+ # of investors Institutional: 250K+ Strategic benefits + Enhances Mackenzie’s Enables best practices a
Slide 71: Enormous growth opportunities
Enormous growth opportunities Both for China’s mutual fund industry and ChinaAMC Household savings (2022) Investment fund assets Investment fund industry forecasts1 as % of GDP (2022) Compound Annual Growth Rate in AUM 112.2% China Canada 46.2% a household 99.2% 14.2% 14.5% saving rate of 13.9% 46%
Slide 72: ChinaAMC growth is outpacing robust industry expansion
ChinaAMC growth is outpacing robust industry expansion ChinaAMC Assets under management1 Chinese mutual fund industry top 10 long-term (RMB billions) 2,851 fund2 provider market share (% at June 30, 2025) 2,465 5-year investment • ChinaAMC’s long-term fund market share3 increased to 6.4% from 5.4% a
Slide 73: 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 56% Northleaf offices AUM1 $33B Investment professionals1 275+ Institutional investors1 300+ Private equity Pri
Slide 74: 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 75: Northleaf's strategic partnership with IGM and GWL
Northleaf’s strategic partnership with IGM and GWL Northleaf’s current growth …enables IGM and GWL to provide institutional global private strategy… markets solutions to wealth management and insurance investors Wealth and asset management Insurance and wealth management Maintain superior investme
Slide 76: Second Quarter 2025
IGM Financial Second Quarter 2025 76
Slide 77: IGM Financial Q2, 2025 highlights
IGM Financial Q2, 2025 highlights Financial highlights Operational highlights • Record high second quarter and LTM adjusted EPS1 Reported EPS Adjusted EPS1 • Record high quarter-end client assets at IG Wealth and Mackenzie $1.04 $1.07 • Continued strong momentum at IG Wealth and accelerating +14.3%
Slide 78: Industry operating environment
Industry operating environment Second quarter industry long-term mutual fund net sales ($B) Total Industry Industry Asset Manager Peers Industry asset manager peers mutual fund net sales ($B) 28.7 Categories Q2/24 Q2/25 $ Change 7.0 14.0 11.4 14.2 2.1 Balanced (4.1) (0.9) 3.1 5.5 2.8 3.8 1.3 3.7 2.0
Slide 79: Adjusted net earnings available to common shareholders by segment
Adjusted net earnings available to common shareholders1 by segment ($MM) Wealth management2 Asset management Corporate & other3 IGM consolidated Q2/24 Q2/25 +15% 252.7 220.4 +20% 130.8 108.7 +8% 84.8 91.7 +12% 26.9 30.2 1) A non-IFRS financial measure - see Non-IFRS financial measures and other fina
Slide 80: Ending AUM&A including SI proportionate share
Ending AUM&A ($B) including SI proportionate share Consolidated Wealth management Asset management AUM&A incl. SI1 3 2 2 2 2 +21% 521.1 Q2/24 Sub-advised AUM to Wealth Management: Q2/25 Q2/25 $87.4B (Q2/24 431.7 $79.4) 224.6 202.1 +13% +33% 146.7 +12% 150.7 129.7 113.0 +21% 47.6 +83% 122.7 137.2 +13
Slide 81: IG Wealth Management net flows
IG Wealth Management net flows IG Wealth Management adjusted gross and net flows1 ($MM) IG Wealth Management net flows2 ($B) (LTM, as at July 31, 2025) Month of June Gross Inflows Gross Outflows Net Flows 1,364 1,149 1,052 1,027 1,229 Total Net Flows IGM Product Net Flows Cash, GICs, & HISAs 620 805
Slide 82: Continued momentum in mortgage and insurance
Continued momentum in mortgage and insurance Mortgage funding1 New annualized insurance premiums ($MM) ($MM) 328 21 258 237 18 13 Q2/23 Q2/24 Q2/25 Q2/23 Q2/24 Q2/25 • Mortgage funding up 27% year-over-year • New annualized insurance premiums up 18% year-over-year • IG Mortgages serviced1 at $6.9B a
Slide 83: IG Wealth Management – key profitability drivers
IG Wealth Management – key profitability drivers Daily average assets ($B), advisory and product & Key revenue & expenses as bps of program fee rate (bps)1 respective driver (AUA or AUM)1 142.5 141.2 139.4 132.9 98.9 98.4 97.7 97.4 98.4 Advisory fees 2 128.1 17.0 16.7 Other AUA 16.1 15.2 14.6 125.5
Slide 84: Mackenzie Investments net sales
Mackenzie Investments net sales Mackenzie adjusted investment fund flows1 ($MM) Mackenzie adjusted investment fund net flows1 ($B) MF Gross Sales MF Redemptions MF Net Sales ETF Net Flows (LTM, as at July 31, 2025) Month of June Total Retail 8.0 1,183 804 835 837 955 771 510 502 630 663 281 706 529
Slide 85: Investment boutique retail mutual fund & ETF
Investment boutique retail mutual fund & ETF Fixed Managed Value-Oriented Quality Growth-Oriented Sustainable Core & Dividend Other Income Solutions North Global Putnam Global Equity Multi-Asset ChinaAMC & Cundill American Ivy Growth Bluewater Resources Greenchip Quantitative Fixed Income (sub-advis
Slide 86: Mackenzie Investments – key profitability drivers
Mackenzie Investments – key profitability drivers Average AUM ($B), net asset management fee rate1 (bps) Net asset management fee rates1 (as bps of respective AUM) 213.9 217.5 217.9 207.5 Sub-advisory and 201.8 AUM to Wealth Management 78.7 78.5 78.0 75.8 73.3 83.9 85.3 85.2 Third Party AUM 81.8 Thi
Slide 87: Adjusted net earnings by segment and company
Adjusted net earnings available to common shareholders1 by segment and company ($MM) Corporate IGM Wealth management Asset management2 & other3 consolidated +15% 252.7 Q2/24 220.4 Q2/25 +18% 131.5 111.7 FVTOCI +3% 55.9 57.8 +5% +12% 25.5 26.7 +76% 26.9 30.2 4.2 7.4 0.4 0.3 (2.8) (0.7) 1) A non-IFRS
Slide 88: Summary: segment breakdown
Summary: segment breakdown Adj. earnings1 by segment Strategic investments – interest and value Q2/24 Adj. Q2/25 Adj. YoY Interest Accounting Q2/25 Net Indicative value Q2/25 Indicative $ millions earnings earnings change Q2/24 | Q2/25 basis carrying value assumption value Wealth management2 IG Weal
Slide 89: Adjusted net earnings and valuation by company
Adjusted net earnings available to common shareholders1 and valuation by company ($MM) Adjusted net earnings available to common shareholders1 6 1,001 2024 939 Analyst 490 536 Consensus2 2025 235 241 FVTOCI 102 107 100 106 16 18 6 3 (10) (7) 2025 analyst 4 UNALLOCATED 4 OTHER CAPITAL estimates2 EPS
Slide 90: Appendix
I Wealth Wealth Management Asset Management Financial Appendix This way to S better 18M 2
Slide 91: 2025 expense guidance
2025 expense guidance Guidance and outlook1: combined operations & support and business development expenses IGM consolidated2 (year-over-year change) 5-year technology & operations transformation 7% announced 6% 5% 3.8% 4% 3% 4 2.2% 2.3% 3 1.7% 1% 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 G
Slide 92: Adjusted cash earnings & dividend payout ratio
IGM Financial adjusted cash earnings & dividend payout ratio IGM Financial adjusted cash earnings1,2 Dividend payout ratio2,3 ($MM) (LTM) Q2/24 Q3/24 Q4/24 Q1/25 Q2/25 LTM 1 Adjusted Net Earnings 220.4 244.1 250.0 237.8 252.7 984.5 69% Add: capitalized sales commission amortization 26.1 26.7 27.3 27
Slide 93: IGM Financial debt/ LTM adj. EBITDA
IGM Financial debt/ LTM adj. EBITDA1 Total Debt ($MM) Q2/24 Q3/24 Q4/24 Q1/25 Q2/25 Long-term Debt 2,400.0 2,400.0 2,400.0 2,400.0 2,400.0 Total debt 2,400.0 2,400.0 2,400.0 2,400.0 2,400.0 1 Adj. EBITDA before sales commissions (LTM, $MM) Q2/24 Q3/24 Q4/24 Q1/25 Q2/25 Adj. EBIT1 1,264.2 1,290.8 1,3