Empire Life announces redemption of $200 million 2.024% Subordinated Debentures

The Empire Life Insurance Company (“Empire Life”) announced today that it intends to redeem, on September 24, 2026 (the “Redemption Date”), all of its outstanding CAD$200 million 2.024% Unsecured Subordinated Debentures, Series 2021-1 due September 24, 2031 (the “Debentures”), at a redemption price of 100% of the principal amount, together with any accrued and unpaid interest to, but excluding, the Redemption Date. The redemption price for each CAD$1,000 aggregate principal amount of Debentures will be CAD$1,010.12, which includes accrued and unpaid interest to, but excluding, the Redemption Date, of CAD$10.12. Interest on the Debentures will cease to accrue from and after the Redemption Date.

Notice will be delivered to the holders of the Debentures in accordance with the terms and conditions set forth in the related trust indenture.

The redemption has been approved by the Office of the Superintendent of Financial Institutions.

About Empire Life

Established in 1923, Empire Life is a subsidiary of E-L Financial Corporation Limited. The company’s mission is to provide expertise and intelligent solutions to help Canadians navigate life with confidence. As of March 31, 2026, Empire Life had total assets under management of $20.8 billion. Follow us on social media @EmpireLife or visit empire.ca for more information.

Source : The Empire Life Insurance Company

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