IGM Financial Annual General Meeting...occurrence of unanticipated events, whether as a result of new information, future events or results, or otherwise. Additional information about

2 0 1 8 I G M F I N A N C I A L A N N U A L G E N E R A L M E E T I N G

IGM Financial Annual General MeetingMay 4, 2018


FORWARD-LOOKING STATEMENTS

Certain statements in this presentation, 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.

Additional information about the risks and uncertainties of the Company’s business and material factors or assumptions on which information contained in forward-looking statements is based is provided in its disclosure materials, including this

Management’s Discussion and Analysis and its most recent Annual Information Form, filed with the securities regulatory authorities in Canada, available at www.sedar.com.

NON-IFRS FINANCIAL MEASURES & ADDITIONAL IFRS MEASURES

Net earnings available to common shareholders, which is an additional measure in accordance with IFRS, may be subdivided into two components consisting of:

• Adjusted net earnings available to common shareholders; and

• Other items, which include the after-tax impact of any item that management considers to be of a non-recurring nature or that could make the period-over-period comparison of results from operations less meaningful.

“Adjusted net earnings available to common shareholders”, “adjusted diluted earnings per share” (EPS) and “adjusted return on average common equity” (ROE) are non-IFRS financial measures which are used to provide management and investors

with additional measures to assess earnings performance. These non-IFRS financial measures do not have standard meanings prescribed by IFRS and may not be directly comparable to similar measures used by other companies.

“Earnings before interest and taxes” (EBIT), “earnings before interest, taxes, depreciation and amortization” (EBITDA) and “adjusted earnings before interest, taxes, depreciation and amortization” (Adjusted EBITDA) are also non-IFRS financial

measures. EBIT, EBITDA and Adjusted EBITDA are alternative measures of performance utilized by management, investors and investment analysts to evaluate and analyze the Company’s results. EBITDA is a common measure used in the asset

management industry to assess profitability before the impact of different financing methods, income taxes, depreciation of capital assets and amortization of intangible assets. Other items of a non-recurring nature, or that could make the period-

over-period comparison of results from operations less meaningful, are further excluded to arrive at Adjusted EBITDA. These non-IFRS financial measures do not have standard meanings prescribed by IFRS and may not be directly comparable to similar

measures used by other companies.

“Earnings before income taxes” and “net earnings available to common shareholders” are additional IFRS measures which are used to provide management and investors with additional measures to assess earnings performance. These measures are

considered additional IFRS measures as they are in addition to the minimum line items required by IFRS and are relevant to an understanding of the entity’s financial performance.



2 0 1 8 I G M F I N A N C I A L A N N U A L G E N E R A L M E E T I N G| 4


Jeffrey R. Carney

President and Chief Executive Officer, IGM Financial Inc.President and Chief Executive Officer, Investors Group Inc.

| 52 0 1 8 I G M F I N A N C I A L A N N U A L G E N E R A L M E E T I N G


2017, year of record results

$(1.8) Billion

$4.8 Billion

2016 2017

Net Sales

Best year in IGM HISTORY

Twelve months ended December 31


Market share gainsInvestment Fund Net Sales Rates

TTM as % of average assets under management (as at December 31, 2017)

3.5%

2.2%

2014 20162015 2017

Industry Peers*

Investors Group

Mackenzie

* Incudes mutual fund industry, excluding bank-owned fund managers


Record first quarter at IGM Financial

$0.8 Billion

$1.4 Billion

Q1 2017 Q1 2018

Net sales

Best first quarter in

IGM HISTORYQuarters ended March 31


2016 2026

Growing segments among mass affluent and high net worth

The opportunity

$4.1 Trillion

$7.4 Trillion

$1MM+

$500k-$1MM

$100-$500K<$100K


Client-centric focus

INSTILL CONFIDENCE

ACHIEVE DREAMS

RAISE A FAMILY

LEAVE A LEGACY

CLIENT-CENTRICFOCUS


INVESTMENT MANAGEMENT

FUNCTION

“One-IGM” approach

CENTRALIZED OPERATIONS

$130 BILLION IN ASSETS


The right talent to achieve our goals

BARRYMCINERNEY

CHRIS REYNOLDS

LUKE GOULD

DONMACDONALD

BLAINE SHEWCHUK

KATHYALLAN

RHONDA GOLDBERG

MICHAELDIBDEN

CHUCK MCDEVITT

DOUG MILNE

President and

Chief Executive

Officer,

Mackenzie

Investments

President and

Chief Executive

Officer,

Investment

Planning

Counsel

Executive

Vice-President,

Chief Financial

Officer

Senior

Vice-President

General Counsel,

Secretary

& Chief

Compliance

Officer

Senior

Vice-President,

Corporate

Planning and

Development

Executive

Vice-President,

Chief Human

Resources

Officer

Senior

Vice-President,

Client and

Regulatory

Affairs

Executive

Vice-President,

Chief

Operating

Officer

Executive

Vice-President,

Strategy

Execution

Office

Executive

Vice-President,

Chief Marketing

and Strategy

Officer

2016 1996 1997 201520081996 20172017 20171994


Record assets

$131.8 Billion

$141.9 Billion

$134.4 Billion

$142.7 Billion

$156.5 Billion

2013 2014 2015 2016 2017

Total Assets Under Management

UP 9.7%

As at December 31


0.6

1 0.7

3 0.8

6 0.9

9 1.1

5 1.3

4 1.5

4

1.7

8

2.0

0

2.0

5

2.0

5

2.1

0

2.1

5

2.1

5

2.1

8

2.2

5

2.2

5

2.2

5

Dividends per share

Strong 2017 financial results

($)

$728 million in 2017

$736 million in 2016

ADJUSTED NET EARNINGS

3.02 in 2017

3.05 in 2016

ADJUSTED NET EARNINGS PER SHARE

$1.355 billion in 2017

$1.321 billion in 2016

ADJUSTED EBITDA


Record first quarter

RECORDNET SALES

$155.8BILLION

TOTAL ASSETS UNDER MANAGEMENT

$1.4BILLION

$185.5MILLION

NET EARNINGS


Uniquely positioned

I n v e s t m e n t s


New markets, new opportunities

• Largest robo advisor in Canada

• 80% of digital investors in Canada use

• Over $2 billion in assets under management

• Market-leading US digital wealth advisor platform

• Over 1.6 million registered users

• Aggregating more than $500 billion in savings

• Over $6.5 billion in assets under management

• Venture capital fund focused on financial technology sector

13.9%OWNERSHIP

• Almost $200 billion in assets under management

• 50 million client relationships



$88.0 BILLIONTotal assets under management

70%of IGM’s earnings

Comprehensive personal planning delivered through long-term relationships


Record high gross sales in 2017

Up 25% from 2016Record Gross Sales

Long-term fund redemption rate of 8.4%Strong Asset Retention

Up $1.6B to $1.9B; gaining shareBest Net Sales since 2007

$88.0B at December 31, 2017Record Asset Level


“We inspire financial confidence”

BETTER

GAMMABETTER

BETA

BETTER

ALPHA

Better Gamma comes from the creation and follow through of a well constructed financial plan

Better Beta is created by offering the same expected return for the

lowest possible amount of risk

Better Alpha comes from maximizing investment returns compared to a

passive portfolio with a similar composition and risk profile


Holistic approach to financial health


Strong growth

HIGH NETWORTH

HOUSEHOLDS

13%INVESTORS GROUP

CLIENTS

46%INVESTORS GROUP

ASSETS

NOTE: Represents series J and U, which are eligible for households with >$500k, and iProfile which is eligible for households with >$250k)


High net worth % of total sales

Growth in high net worth solutions

25%

36%

46%

Q4/15 Q4/16 Q4/17

NOTE: Represents series J and U, which are eligible for households with >$500k, and iProfile which is eligible for households with >$250k)


Most highly trained advisors in the industry

Consultant practices with CFP/PL. Fin

54% 59%

68%

~98%

December 2015 December 2017

Consultant Practices 4+ Years

(Enrolled in program)

Consultant Practices 4+ Years

with CFP/Pl. Fin

NUMBER OFCFP/PL. FIN

PROFESSIONALS

NUMBER OFFPSC LEVEL 1 CERTIFICANTS

RANKED #1

Additional level of

certification


Consultant network composition Strong productivity of new recruits

Enhancing recruiting standards

(# of Consultants)

2,358 2,300 2,262 2,229 2,147 2,124

2,0651,679 1,482 1,298

995 954

957

9681,010

1,003

1,004 1,068

5,3804,947

4,7544,530

4,146 4,146

Q3'16 Q4'16 Q1'17 Q2'17 Q3'17 Q4'17 2016 2017

Recruits (<4 years)

Consultant Practices

(>4 years)

Associates & Regional

Directors

UP3.2X


World-class investment management partners


Becoming the best place to work

94% response rate


Barry McInerneyPresident and Chief Executive Officer, Mackenzie Financial Corp.


$64.6 BILLIONTotal assets under management

30,000+Third-party advisors and

institutional clients

Diversified asset management solutionsprovider and business partner



Chris ReynoldsPresident and Chief Executive Officer, Investment Planning Counsel


Integrated personal financialservices company

218,000Canadian households

~800Financial advisors across the country

$27.6 BILLIONTotal assets under administration



IGM leadership in the community

Responsible ManagementResponsible Management $9.7

MILLIONin support of

more than

1,700CHARITIES &

NOT-FOR-PROFITS


2 0 1 8 I G M F I N A N C I A L A N N U A L G E N E R A L M E E T I N G| 37


Barry McInerney

President and Chief Executive Officer, Mackenzie Financial Corporation


2017 a milestone year

Mutual Fund Gross sales Best result in our history $9.2B

Overall Net Sales $3.3B compared to 2016 total net redemptions of $0.8B

ETF Net Creations $1.2B ($0.3B in Mackenzie fund-of-funds)

Institutional Wins Over $1B in wins in Canada and the US

Retail mutual fund net sales Best Retail net sales in over a decade $0.8B

Investment Fund Assets Record high $56.7 billion, up 10% during 2017

1

1. Excludes advisory mandates to Investors Group funds and institutional rebalance transactions


Net Sales

(360) (307)

112

(555)(290)

(845)

827 444

1,156

2,086

1,189

3,275

Retail MutualFunds

InstitutionalMutual Funds

ETFs Total InvestmentsFunds

InstitutionalSMA

Total

2016 2017

Broad-based momentum across all channels

($ millions)

1. Excludes advisory mandates to Investors Group funds and institutional rebalance transactions2. Excludes $341 million of ETF net sales from Mackenzie mutual funds3 Among independent peer group

1

2 #2 IN CANADAin Mutual Fund YTD Net Sales improvement over 20163

#3 IN CANADAin active/smart beta ETF Net Creations


Mackenzie gaining mutual fund share in advice channel

6 Consecutive

Quarters of

Share Growth

Industry Mutual Fund Net Sales (Long Term Funds) Last Twelve Month Trailing, % of Average Assets Under Management (at March 31, 2018)

2.3%

4.6%

Dec-13 Dec-14 Dec-15 Dec-16 Dec-17 Dec-18

Industry Peers*

Mackenzie mutual funds

Mackenzie investment funds

2013 20162015 20172014 2018 * Incudes mutual fund industry, excluding bank-owned fund managers


Exchange Traded Funds gaining ground

71 113234

622906

1,296

2,004

Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017 Q4 2017 Q1 2018

Mackenzie Mutual Fund Investment in ETF's

340

573

928

1,407

597

368

333

282

165

Assets Under Management

($ millions)

18 months to reach $1 billion

6 months to add 2nd billion

8th place in industry AUM


ETFs continue to grow in Canada

16%

23%

38%43%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

-

10

20

30

40

50

60

70

80

2014 2015 2016 2017

72

43

61

64

2%

4%

5%

6%

7%

9%

0%

2%

4%

6%

8%

10%

12%

14%

16%

-

200

400

600

800

1,000

1,200

1,400

1,600

1,800

Dec-07 Dec-09 Dec-11 Dec-13 Dec-15 Dec-17

ETF

MutualFund

ETF Share

ETF Share of Total Investment Fund Assets ETF Share of Total Investment Fund Net Sales

Source: Simfund

763733

817

1,062

1,319

1,623

($ billions) ($ billions)


Innovative investment solutions delivered

ETFs

TOBAM

All China Equity

Private Pools

Diversified Alternatives

Fixed Income (Global Tactical, Unconstrained)

Monthly Income

SRI

$4.6B

1. Excludes Mackenzie mutual funds investments in ETF’s

NEW PRODUCT SUCCESS 1

Launched since 2013

51Mutualfunds

28ETFs

$4.6BNet flows since

inception

$2.3BNet flows in

2017

Net Sales from New Investment Funds1

2013 2014 2015 2016 2017 2018

Mutual funds ETFs


Innovative investment solutions delivered


Mandate Series F

Mackenzie Canadian Growth Balanced Fund

Mackenzie Ivy Global Balanced Fund

Mackenzie Strategic Income Fund

Mackenzie Income Fund

Mackenzie Global Strategic Income Fund

Strong balanced fund performance

5

2. Based on Morningstar rating. Includes 5 largest balanced funds, excluding Symmetry managed solutions.

MORNINGSTAR RATINGSCORE CATEGORY - BALANCED FUNDS 2 (AS OF DEC 31, 17)

5

5

5

5(316)

108

814

2015 2016 2017

Balanced Fund Annual Net Sales1

1. excluding Symmetry managed solutions.


Mackenzie Canadian Growth Fund

Mackenzie Canadian Growth Balanced Fund

Mackenzie Canadian Resource Fund

Mackenzie Global Dividend Fund

Mackenzie Income Fund

Mackenzie Global Strategic Income Fund

Mackenzie Monthly Income Balanced Portfolio

Mackenzie Monthly Income Conservative Portfolio

Mackenzie US Dividend Fund

Investment recognition


Institutional and strategic partners

Strategic Partnerships

Institutional New Mandate wins in 2017

Penetrating Select Global Markets


#1 Brand

#1 in ETFs

#1 in combined LT Mutual Funds

and Institutional AUM

Over 50 million customers


Advisor Perception Study

2013

13th

2014

11th

2015

5th

2016

4th*

2017

3rd


Employee engagement at all-time high

3.69

3.95

4.06

4.18

2014 2015 2016 2017

Engagement Scores

96% Employee Participation Rate

Direct LinkBetween

Employee Satisfaction and Long-Term Value

“The Link Between Job Satisfaction and Firm Value, With Implications for Corporate Social Responsibility” by Alex Edmans,


03

FOR INTERNAL USE ONLYOffices

Strategic Partners

110 investment professionals

globally

$133.6 Billion AUM(1)

Global capabilities; boutique structure and well resourced

(1) AUM at Dec 31, 2017. Includes assets sub-advised by Mackenzie for Investors Group and IPC post combination of Investment Management operations and includes AUM managed by Dublin and Hong Kong offices. AUM is $64.6 billion excluding these sub-advised assets


Participating in the six key global growth catalysts

China

China will account for nearly 50% global net new flows &total AUM growth

Economy expected to be largest in the world by 2030

6. PwC Global; World in 2015, Feb 2017

1. Socially Responsible Investing

2. Liquid Alternatives

3. Exchange Traded Funds

4. Quantitative

5. Multi-Asset Solutions

6.


Leading with confidence in a changing world

CANADIAN MUTUAL FUND COMPANY

GLOBAL ASSET MANAGEMENT SOLUTIONS PROVIDER &

BUSINESS PARTNER

Deliver innovative investment solutions

Business processes that are simple, easy

and digitized

Continue to foster high performing &

diverse talent

R E L E N T L ESS F O CUS AN D CO M M I T M E N TT O ADV I S O R S AN D I N V ES T OR S



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IGM Financial Annual General Meeting...occurrence of unanticipated events, whether as a result of new information, future events or results, or otherwise. Additional information about