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TM AGF MEDIA MEDIA RELEASE AGF MANAGEMENT LIMITED REPORTS SECOND QUARTER 2021 FINANCIAL RESULTS Toronto June 30 , 2021 • Mutual fund gross sales of $ 1.1 billion for the second quarter of 2021 , an improvement of 108 % year - over - year • Mutual fund net sales of $ 408 million for the quarter • Total assets under management and fee - earning assets of $ 40.8 billion Dividend increase to $ 0.09 from $ 0.08 per share AGF Management Limited ( AGF or the Company ) ( TSX : AGF.B ) today announced financial results for the second quarter ended May 31 , 2021 . AGF reported total assets under management and fee - earning assets of $ 40.8 billion compared to $ 35.8 billion as at May 31 , 2020 . " While the pandemic persisted through another quarter , we continued to gain sales momentum and expand our client base and reach into new markets , " said Kevin McCreadie , Chief Executive Officer and Chief Investment Officer , AGF . " Further , we remain uniquely positioned to continue to redeploy capital against our strategic growth strategy delivering value to our shareholders by further diversifying our assets and revenue streams as we focus on new relationships and capital opportunities within our private alternatives business . " " In recognition of our strong results , robust financial position , and confidence in the future of our business , AGF's Board of Directors has approved to increase the quarterly dividend by 12.5 % , " added McCreadie . AGF's mutual funds net sales improved $ 501 million year - over - year , with total net sales of $ 408 million in Q2 2021 , compared to net redemptions of $ 93 million in Q2 2020. Excluding net flows from institutional clients invested in mutual funds , retail mutual fund net sales were $ 431 million for the quarter compared to net redemptions of $ 93 million in the comparative period of 2020. AGF mutual fund gross sales for the quarter totaled $ 1,060 million , a 108 % improvement over prior year . While industry net sales were down 17 % versus Q1 2021 , AGF's mutual fund net sales are up 6 % versus Q1 2021 . Mutual fund sales momentum continued into June with AGF reporting mutual fund net sales of $ 76 million as at June 28 , 2021 compared to net redemptions of $ 32 million for the same time last year . Mutual fund gross sales were up 87 % year - over - year . " We are seeing the results of taking a vehicle agnostic approach , in particular with accelerating sales into fee - based series and separately managed accounts as well as interest in the launch of our innovative private alternative offerings , " said Judy Goldring , President and Head of Global Distribution , AGF . Key Business Highlights : • As part of its extended partnership with SAF Group , AGF is operationally ready with private credit offerings for both Canadian institutional investors and retail clients with the AGF SAF Private Credit Limited Partnership and AGF SAF Private Credit Trust with first close expected in Q3 2021 . • Subsequent to the end of our fiscal quarter , one of AGF's long - term private alternative investments , managed by SAF , was fully monetized , with a final cash distribution of $ 5.9 million received . The long - term investment had a carrying value of $ 5.8 million ¹ Fee - earning assets represents assets in which AGF has carried interest ownership and earns recurring fees but does not have ownership interest in the managers . 1 | Page