Sagicor Financial Reports Fourth Quarter and Full Year 2023 Results and Announces 7% Dividend Increase

This news release for Sagicor Financial Company Ltd. ("Sagicor" or the "Company") should be read in conjunction with the Company's Management's Discussion & Analysis ("MD&A") and the Consolidated Financial Statements for the period ended December 31, 2023. These documents are available on Sagicor's website, at www.sagicor.com, under the heading "Financials and Filings" and under Sagicor's profile at www.sedarplus.ca. This news release presents non-IFRS measures used by Sagicor in evaluating its results and measuring its performance. These non-IFRS measures are not standardized financial measures, are not included in the Consolidated Financial Statements, and may not be comparable to similar financial measures used by other companies. They include return on shareholders' equity ("ROE"), book value per share, debt to capital ratio, total capital, revenues, contractual service margin ("CSM"), Minimum Continuing Capital and Surplus Requirement ("MCCSR") ratio, Life Insurance Capital Adequacy Test ("LICAT") ratio, core net income to shareholders, new business CSM, new business production, total net CSM, shareholders' equity plus net CSM to shareholders, dividend payout ratio and net CSM to shareholders. See the "Non-IFRS Measures" section in this document for relevant information about such measures.