Intact Financial Corporation Announces $1.25 Billion Bought Deal Private Placement of Subscription Receipts to Finance a Portion of the Purchase Price of the Possible Offer for RSA Insurance Group PLC (“RSA”) - Seite 2

Should a firm offer be made for RSA, which is subject to, amongst other things, due diligence and reaching definitive agreements with various stakeholders, Intact estimates the proposed Transaction to complete during the second quarter of 2021.

No firm offer has been made, nor can there be any certainty that an offer will be made, for RSA under the UK Takeover Code.

Each Subscription Receipt will entitle the holder to receive one common share of Intact upon closing of the Transaction. Completion of the Offering is conditional upon the Consortium announcing a firm offer for RSA on or prior to closing. Additional information on the proposed transaction is available at Intact’s website at https://www.intactfc.com/English/investors/. The completion of the Offering is also subject to approval of the Toronto Stock Exchange and other customary closing conditions. The offering is expected to close on December 3, 2020

The Subscription Receipts and the common shares of Intact have not been, and will not be, registered under the U.S. Securities Act, or the securities laws of any state of the United States and may not be offered, sold or delivered, directly or indirectly, within the United States, except in certain transactions exempt from, or not subject to, the registration requirements of the U.S. Securities Act and applicable state securities laws. This press release does not constitute an offer to sell or a solicitation of an offer to buy any of these subscription receipts within the United States.

About Intact

Intact Financial Corporation is the largest provider of property and casualty (P&C) insurance in Canada and a leading provider of specialty insurance in North America, with over $11 billion in total annual premiums. The Company has approximately 16,000 employees who serve more than five million personal, business and public sector clients through offices in Canada and the U.S.

In Canada, Intact distributes insurance under the Intact Insurance brand through a wide network of brokers, including its wholly-owned subsidiary BrokerLink, and directly to consumers through belairdirect. Frank Cowan Company, a leading MGA, distributes public entity insurance programs including risk and claims management services in Canada.

In the U.S., 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. Products are underwritten by the insurance company subsidiaries of Intact Insurance Group USA, LLC.