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AGF MEDIA RELEASE AGF MANAGEMENT LIMITED REPORTS THIRD QUARTER 2021 FINANCIAL RESULTS Toronto September 29 , 2021 • Reported diluted earnings per share of $ 0.21 • • Mutual fund gross sales of $ 790 million for the third quarter of 2021 , an improvement of 61 % year - over - year Mutual fund net sales of $ 288 million for the quarter Total assets under management and fee - earning assets of $ 43.4 billion AGF Management Limited ( AGFor the Company ) ( TSX : AGF.B ) today announced financial results for the third quarter ended August 31 , 2021 . AGF reported total assets under management and fee - earning assets of $ 43.4 billion compared to $ 36.5 billion as at August 31 , 2020 . " As we head into the final months of 2021 , we are well - positioned to execute against our strategic priorities and will aim to continue to gain momentum with a focus on increasing sales , evolving our client - base and looking for opportunities to diversify our business , " said Kevin McCreadie , Chief Executive Officer and Chief Investment Officer , AGF . " Despite the challenges of the pandemic , this year we have made strides expanding into the private alternatives space and are seeing the results of growing interest into our fee - based series and separately managed accounts , " added McCreadie . AGFs mutual funds net sales improved $ 310 million year - over - year , with total net sales of $ 288 million in Q3 2021 , compared to net redemptions of $ 22 million in Q3 2020. Excluding net flows from institutional clients invested in mutual funds , retail mutual fund net sales were $ 288 million for the quarter compared to net redemptions of $ 4 million in the comparative period of 2020. AGF mutual fund gross sales for the quarter totaled $ 790 million , a 61 % improvement over prior year . Mutual fund sales momentum continued into September with AGF reporting mutual fund net sales of $ 80 million asat September 24 , 2021 compared to net redemptions of $ 11 million for the same time last year . Mutual fund gross sales were up 51 % year - over - year . " Delivering on our strategic growth strategy , this quarter we deployed capital and diversified partnerships within our private alternatives business , " said Adrian Basaraba , Senior Vice - President and Chief Financial Officer . " The opportunities within this space have allowed us to realize value for our shareholders and grow our assets and revenue streams . " " We are targeting continued growth while keeping expense management top of mind with the goal of improving margins . " added Basaraba . Key Business Highlights : • • AGF in partnership with the SAF Group ( SAF ) announced the launch of AGF SAF Private Credit Limited Partnership and AGF SAF Private Credit Trust . The new offerings provide both institutional and retail investors access to the benefit of private cred it investing . AGF announced an evolution of its strategic partnership with SAF . The partnership is focused on providing investors access to unique private alternative opportunities leveraging AGF soperations and distribution reach coupled with SAF sprivate credit 1 Fee - earning assets represents assets in which AGF hascarried interest ownership and earns recurring fees but does not have ownership interest in the managers . 1 | Page