All financial amounts in Canadian dollars unless stated otherwise.

CI Financial Corp. (“CI”) (TSX: CIX, NYSE: CIXX) today reported preliminary assets under management as at January 31, 2022 of $146.4 billion and wealth management assets of $226.1 billion, for total assets of $372.5 billion.

CI FINANCIAL CORP.

January 31, 2022

PRELIMINARY MONTH-END ASSETS (C$ Billions)

ENDING ASSETS

January

2022

December

2021

% Change

January

2021

% Change

Core assets under management

(Canada and Australia) (1)

$138.7

$144.2

 

-3.8%

$128.7

7.8%

U.S. assets under management (2)

$7.7

$7.9

-2.5%

$5.6

37.5%

Total assets under management

$146.4

$152.1

-3.7%

$134.3

9.0%

Canadian wealth management

$78.7

$80.6

-2.4%

$67.7

16.2%

U.S. wealth management (2)

$147.3

$151.3

-2.6%

$29.8

394.3%

Total wealth management

$226.1

$232.0

-2.5%

$97.6

131.7%

TOTAL

$372.5

$384.1

-3.0%

$231.9

60.6%

CORE AVERAGE AUM

January

2022

December

2021

December

2021

Fiscal

2021

% Change

Monthly average

$140.6

$143.3

--

--

-1.9%

Quarter-to-date average

$140.6

--

$143.0

--

-1.7%

Year-to-date average

$140.6

--

--

$137.9

2.0%

(1)

Includes $35.1 billion of assets managed by CI and held by clients of advisors with Assante, CIPC and Aligned Capital as at January 31, 2022 ($36.2 billion at December 31, 2021 and $31.4 billion at January 31, 2021).

(2)

Month-end USD/CAD exchange rates of 1.2708, 1.2637 and 1.2780 for January 2022, December 2021 and January 2021, respectively.

About CI Financial

CI Financial Corp. is an integrated global wealth and asset management company. CI’s primary asset management businesses are CI Global Asset Management (CI Investments Inc.) and GSFM Pty Ltd., and it operates in Canadian wealth management through CI Assante Wealth Management (Assante Wealth Management (Canada) Ltd.), CI Private Counsel LP, Aligned Capital Partners Inc., CI Direct Investing (WealthBar Financial Services Inc.), and CI Investment Services Inc.

CI’s U.S. wealth management businesses consist of Barrett Asset Management, LLC, Balasa Dinverno Foltz LLC, BRR OpCo, LLC, Bowling Portfolio Management LLC, Brightworth, LLC, The Cabana Group, LLC, CPWM, LLC, Congress Wealth Management LLC, Dowling & Yahnke, LLC, Doyle Wealth Management, LLC, Gofen & Glossberg, LLC, Matrix Capital Advisors, LLC, McCutchen Group LLC, OCM Capital Partners, LLC, Portola Partners Group LLC, Radnor Financial Advisors, LLC, RegentAtlantic Capital, LLC, The Roosevelt Investment Group, LLC, RGT Wealth Advisors, LLC, R.H. Bluestein & Co., Segall Bryant & Hamill, LLC, Stavis & Cohen Private Wealth, LLC, and Surevest LLC.

CI is listed on the Toronto Stock Exchange under CIX and on the New York Stock Exchange under CIXX. Further information is available at www.cifinancial.com.

This press release contains forward-looking statements concerning anticipated future events, results, circumstances, performance or expectations with respect to CI Financial Corp. (“CI”) and its products and services, including its business operations, strategy and financial performance and condition. Forward-looking statements are typically identified by words such as “believe”, “expect”, “foresee”, “forecast”, “anticipate”, “intend”, “estimate”, “goal”, “plan” and “project” and similar references to future periods, or conditional verbs such as “will”, “may”, “should”, “could” or “would”. These statements are not historical facts but instead represent management beliefs regarding future events, many of which by their nature are inherently uncertain and beyond management’s control. Although management believes that the expectations reflected in such forward-looking statements are based on reasonable assumptions, such statements involve risks and uncertainties. The material factors and assumptions applied in reaching the conclusions contained in these forward-looking statements include that all announced acquisitions will be completed, that the investment fund industry will remain stable and that interest rates will remain relatively stable. Factors that could cause actual results to differ materially from expectations include, among other things, general economic and market conditions, including interest and foreign exchange rates, global financial markets, changes in government regulations or in tax laws, industry competition, technological developments and other factors described or discussed in CI’s disclosure materials filed with applicable securities regulatory authorities from time to time. The foregoing list is not exhaustive and the reader is cautioned to consider these and other factors carefully and not to place undue reliance on forward- looking statements. Other than as specifically required by applicable law, CI undertakes no obligation to update or alter any forward-looking statement after the date on which it is made, whether to reflect new information, future events or otherwise.

Investor Relations Jason Weyeneth, CFA Vice-President, Investor Relations & Strategy 416-681-8779 jweyeneth@ci.com

Media Relations Canada Murray Oxby Vice-President, Communications 416-681-3254 moxby@ci.com

United States Trevor Davis, Gregory FCA for CI Financial 610-415-1145 cifinancial@gregoryfca.com

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