How Canadian investors in Sun Life can automatically reinvest their cash dividends by purchasing additional common shares.

Dividend Reinvestment Program

Registered common and preferred shareholders and Share Ownership Account participants who live in Canada and hold at least 1 whole common or preferred share can automatically reinvest their cash dividends to purchase additional common shares. Participation is voluntary. If you are interested in participating, you may wish to consult your financial or tax advisor.

To enroll, complete the   enrollment form and mail it to AST Trust Company (Canada).

If you hold shares in a brokerage account, you may also participate. Contact your broker to determine what is required.

Share Purchase Plan

To participate in the Share Purchase Plan, mail a cheque in Canadian dollars along with the   optional cash purchase form and   participation declaration form to AST Trust Company (Canada).

Shares acquired through an optional cash purchase will automatically be enrolled in the plan. The minimum optional cash purchase at any one time is $100, and you cannot make optional cash purchases in excess of $50,000 per year.

The Participant Declaration Form is a requirement of the Canadian government and is used to confirm the identity of investors, or their signing officers. The form is in accordance with the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (Canada). Information about the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (Canada) regulations can be found on the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) website at www.canafe.gc.ca.

The   offering circular is available online and additional information is available by contacting AST Trust Company (Canada).

If common shares are issued from treasury, the Market Price will be equal to the volume-weighted average market price of the common shares on the Toronto Stock Exchange on the 5 trading days preceding the Dividend Payment Date, subject to a possible discount of up to 5% that may be applied on common shares issued from treasury on a dividend reinvestment. No discount will apply on common shares issued from treasury on an optional cash purchase.

If common shares are purchased on the open market, the market price allocated to each plan share, or fraction thereof, acquired by the plan agent under the plan on each dividend payment date will be the volume-weighted average of the applicable best efforts open market purchase price paid per common share by the plan agent for all common shares purchased on that dividend payment date under the plan.

The Corporation will announce by press release whether purchases of common shares under the plan will be made on the open market or through treasury and the applicable discount, if any, for common shares issued from treasury on a dividend reinvestment.

For dividend reinvestment and optional cash purchases, shares are purchased on each dividend payment date. Subject to approval by the Board of Directors, dividends are paid on common shares at the end of March, June, September and December.

You may withdraw common shares from the plan at any time by providing written notice to AST Trust Company (Canada). You may also terminate your participation in the plan by withdrawing all of your common shares from the plan. A share certificate will be issued for your withdrawn shares.

All fees, expenses and brokerage commissions payable in connection with the plan will be borne by the Corporation other than brokerage commissions, plus any applicable taxes, payable on the sale of common shares held through the plan.