Intact Financial Corporation Announces $150 Million Preferred Share Offering

Not for distribution to U.S. news wire services or dissemination in the United States.

THE BASE SHELF PROSPECTUS IS ACCESSIBLE, AND THE SHELF PROSPECTUS SUPPLEMENT FOR THE PUBLIC OFFERING AND ANY AMENDMENT TO THE DOCUMENTS WILL BE ACCESSIBLE, WITHIN TWO BUSINESS DAYS, THROUGH SEDAR+

TORONTO, Nov. 06, 2025 (GLOBE NEWSWIRE) — Intact Financial Corporation (TSX: IFC) (“Intact” or the “Company”) announced today that it has entered into an agreement with a syndicate of underwriters led by BMO Capital Markets and National Bank Capital Markets pursuant to which the underwriters have agreed to purchase, on a bought deal basis, 6,000,000 Non-Cumulative Class A Shares, Series 13 (the “Series 13 Shares”) from Intact for sale to the public at a price of $25.00 per Series 13 Share (the “Offering Price”), representing aggregate gross proceeds of $150 million (the “Offering”).

The Series 13 Shares will yield 5.50% per annum, payable quarterly, as and when declared by the Board of Directors of the Company. The Series 13 Shares will not be redeemable prior to December 31, 2030. On and after December 31, 2030, Intact may, on not less than 30 nor more than 60 days’ notice, redeem for cash the Series 13 Shares in whole or in part, at Intact’s option, at $26.00 per Series 13 Share if redeemed on or after December 31, 2030 and prior to December 31, 2031, $25.75 per Series 13 Share if redeemed on or after December 31, 2031 and prior to December 31, 2032, $25.50 per Series 13 Share if redeemed on or after December 31, 2032 and prior to December 31, 2033, $25.25 per Series 13 Share if redeemed on or after December 31, 2033 and prior to December 31, 2034 and $25.00 per Series 13 Share if redeemed on or after December 31, 2034, in each case together with all declared and unpaid dividends on such Series 13 Shares up to but excluding the date of redemption.

The Offering is expected to close on November 12, 2025. The net proceeds are expected to be used by Intact for general corporate purposes.

The Series 13 Shares will be offered in each of the provinces and territories of Canada under a prospectus supplement (the “Prospectus Supplement”) to the Company’s short form base shelf prospectus dated January 15, 2024 (the “Base Shelf Prospectus”).

The Series 13 Shares have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”) or any U.S. state securities laws, and may not be offered or sold in the United States or to or for the account or benefit of U.S. persons absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This news release shall not constitute an offer to sell or the solicitation of an offer to buy the Series 13 Shares in the United States or in any other jurisdiction where such offer, solicitation or sale would be unlawful.

Access to the Prospectus Supplement, the Base Shelf Prospectus and any amendments to the documents is provided in accordance with securities legislation relating to procedures for providing access to a shelf prospectus supplement, a base shelf prospectus and any amendment to the documents. The Base Shelf Prospectus is, and the Prospectus Supplement will be (within two business days of the date hereof), accessible on SEDAR+ at www.sedarplus.com. An electronic or paper copy of the Prospectus Supplement, the Base Shelf Prospectus and any amendment to the documents may be obtained, without charge, from BMO Capital Markets at Brampton Distribution Centre c/o The Data Group of Companies, 9195 Torbram Road, Brampton, Ontario, L6S 6H2 by telephone at (905) 791-3151 Ext. 4312 or by email at torbramwarehouse@datagroup.ca, and in the United States by contacting BMO Capital Markets Corp., Attn: Equity Syndicate Department, 3 Times Square, 25th Floor, New York, NY 10036 (Attn: Equity Syndicate) or from National Bank Capital Markets at 130 King Street West, 4th Floor Podium, Toronto, Ontario, M5X 1J9 by telephone (416) 869-8414 or by email at NBF-Syndication@bnc.ca, and in the United States by contacting 65 E. 55th St., 8th Floor, New York, New York 10022 by providing the contact with an email address or address, as applicable. Prospective investors should read the Base Shelf Prospectus and the Prospectus Supplement (when filed) in their entirety before making an investment decision.

About Intact Financial Corporation

Intact Financial Corporation (TSX: IFC) is the largest provider of Property and Casualty (P&C) insurance in Canada, a leading Specialty lines insurer with international expertise and a leader in Commercial lines in the UK and Ireland. The business has grown organically and through acquisitions to almost $24 billion of total annual operating direct premiums written (DPW).

In Canada, Intact distributes insurance under the Intact Insurance brand through agencies and a wide network of brokers, including its wholly-owned subsidiary BrokerLink. Intact also distributes directly to consumers through the belairdirect brand and affinity partnerships. Additionally, Intact provides exclusive and tailored offerings to high-net-worth customers through Intact Prestige.

In the US, Intact Insurance Specialty Solutions provides a range of specialty insurance products and services through independent agencies, regional and national brokers, wholesalers and managing general agencies.

Across the UK, Ireland and Europe, Intact Insurance provides Commercial and Specialty insurance solutions through regional and national brokers, wholesalers and managing general agents. In Ireland, it also provides Personal insurance direct to customers through the 123.ie brand.

For further information, please contact:

Media Inquiries: 
Caroline Audet, Manager, Media Relations and Public Affairs
416-227-7905 / 514-985-7165
media@intact.net 
 
Investor Inquiries: 
Geoff Kwan, Deputy SVP, Finance and Chief Investor Relations Officer
1-866-440-8300 ext. 20022
ir@intact.net 

Cautionary note regarding forward-looking statements

Certain of the statements included in this press release including statements regarding the use of proceeds of the Offering, the timing of filing of the prospectus supplement, the anticipated closing of the Offering or any other future events or developments, constitute forward-looking statements. The words “may”, “will”, “would”, “should”, “could”, “expects”, “plans”, “intends”, “trends”, “indicates”, “anticipates”, “believes”, “estimates”, “predicts”, “likely”, “potential” or the negative or other variations of these words or other similar or comparable words or phrases, are intended to identify forward-looking statements. Unless otherwise indicated, all forward-looking statements in this press release are made as of the date hereof and are subject to change after that date.

Forward-looking statements are based on estimates and assumptions made by management based on management’s experience and perception of historical trends, current conditions and expected future developments, as well as other factors that management believes are appropriate in the circumstances. Many factors could cause the Company’s actual results, performance or achievements or future events or developments to differ materially from those expressed or implied by the forward-looking statements, including, without limitation, the timing and completion of the Offering. In addition to other estimates and assumptions which may be identified herein, estimates and assumptions have been made regarding, among other things, the anticipated closing of the Offering and the expected use of the net proceeds thereof. However, the completion of the Offering is subject to customary closing conditions, termination rights and other risks and uncertainties, and there can be no assurance that the Offering will be completed within anticipated timeframes or at all.

All of the forward-looking statements included in this press release are qualified by these cautionary statements and those made in the section entitled Risk Management (Sections 25 and 28) included in IFC’s management’s discussion and analysis for the year ended December 31, 2024 and IFC’s annual information form for the year ended December 31, 2024 and those made in the section entitled Risk Management (Section 14) included in IFC’s management’s discussion and analysis for the quarter ended September 30, 2025, all of which are available on the Company’s website at www.intactfc.com and on SEDAR+ at www.sedarplus.com. These factors are not intended to represent a complete list of the factors that could affect the Company. These factors should, however, be considered carefully. Although the forward-looking statements are based upon what management believes to be reasonable assumptions, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. Investors should not rely on forward-looking statements to make decisions, and investors should ensure the preceding information is carefully considered when reviewing forward-looking statements made in this press release. The Company has no intention and undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.