Winnipeg - IGM Financial Inc. (IGM or the Company) (TSX: IGM) today announced earnings results for the fourth quarter of 2019 and for the year ended December 31, 2019.

IGM HIGHLIGHTS

Annual net earnings of $746.7 million or $3.12 per share compared to $767.3 million or $3.18 per share in 2018. Annual adjusted net earnings, excluding other items, 1 of $763.9 million or $3.19 per share compared to $791.8 million or $3.29 per share in 2018.

Fourth quarter net earnings of $191.6 million or 80 cents per share compared to $179.9 million or 75 cents per share in the fourth quarter of 2018. Fourth quarter adjusted net earnings, excluding other items,1 of $200.8 million or 84 cents per share compared to $179.9 million or 75 cents per share in the fourth quarter of 2018. Adjusted earnings per share of 84 cents represented the highest fourth quarter result in the Company's history. A quarterly common share dividend of $0.5625 per share was declared in the fourth quarter of 2019, maintained from the prior quarter.

Record high assets under management at December 31, 2019 were $166.8 billion, an increase of 11.9% from the prior year driven by favourable investment returns. Assets under administration of $190.2 billion increased by 11.8% from the prior year. Investment fund net redemptions were $141 million, compared to net redemptions of $225 million in the fourth quarter of 2018.

'IGM ended the year with record high assets under management of $166.8 billion driven by strong investment returns for our clients, continued high net worth client acquisition by IG Wealth Management and Mackenzie's retail sales strength,' said Jeffrey R. Carney, President and Chief Executive Officer of IGM Financial Inc. 'We made significant progress in 2019 on our transformation efforts, resulting in enhancements to our client and advisor experience combined with operational efficiencies.'

FORWARD LOOKING STATEMENTS

Certain statements in this Release, other than statements of historical fact, are forward looking statements based on certain assumptions and reflect IGM Financial's current expectations.

Forward looking statements are provided to assist the reader in understanding the Company's financial position and results of operations as at and for the periods ended on certain dates and to present information about management's current expectations and plans relating to the future. Readers are cautioned that such statements may not be appropriate for other purposes. These statements may include, without limitation, statements regarding the operations, business, financial condition, expected financial results, performance, prospects, opportunities, priorities, targets, goals, ongoing objectives, strategies and outlook of the Company, as well as the outlook for North American and international economies, for the current fiscal year and subsequent periods.

Forward looking statements include statements that are predictive in nature, depend upon or refer to future events or conditions, or include words such as 'expects', 'anticipates', 'plans', 'believes', 'estimates', 'seeks', 'intends', 'targets', 'projects', 'forecasts' or negative versions thereof and other similar expressions, or future or conditional verbs such as 'may', 'will', 'should', 'would' and 'could'. This information is based upon certain material factors or assumptions that were applied in drawing a conclusion or making a forecast or projection as reflected in the forward looking statements, including the perception of historical trends, current conditions and expected future developments, as well as other factors that are believed to be appropriate in the circumstances. While the Company considers these assumptions to be reasonable based on information currently available to management, they may prove to be incorrect. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. A variety of material factors, many of which are beyond the Company's and its subsidiaries' control, affect the operations, performance and results of the Company, and its subsidiaries, and their businesses, and could cause actual results to differ materially from current expectations of estimated or anticipated events or results. These factors include, but are not limited to: the impact or unanticipated impact of general economic, political and market factors in North America and internationally, interest and foreign exchange rates, global equity and capital markets, management of market liquidity and funding risks, changes in accounting policies and methods used to report financial condition (including uncertainties associated with critical accounting assumptions and estimates), the effect of applying future accounting changes, operational and reputational risks, business competition, technological change, changes in government regulations and legislation, changes in tax laws, unexpected judicial or regulatory proceedings, catastrophic events, the Company's ability to complete strategic transactions, integrate acquisitions and implement other growth strategies, and the Company's and its subsidiaries' success in anticipating and managing the foregoing factors. The reader is cautioned that the foregoing list is not exhaustive of the factors that may affect any of the Company's forward looking statements.

The reader is also cautioned to consider these and other factors, uncertainties and potential events carefully and not place undue reliance on forward looking statements. Other than as specifically required by applicable Canadian law, the Company undertakes no obligation to update any forward looking statements to reflect events or circumstances after the date on which such statements are made, or to reflect the occurrence of unanticipated events, whether as a result of new information, future events or results, or otherwise

ABOUT IGM FINANCIAL INC.

IGM Financial Inc. is one of Canada's leading diversified wealth and asset management companies with approximately $169 billion in total assets under management at January 31, 2020. The company provides a broad range of financial and investment planning services to help more than two million Canadians meet their financial goals. Its activities are carried out principally through IG Wealth Management, Mackenzie Investments and Investment Planning Counsel.

Contact:

Keith Potter

Tel: 204 956 8119

Email: investor.relations@igmfinancial.com

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