Page 1

August 6 , 2026 E - L FINANCIAL CORPORATION LIMITED ANNOUNCES JUNE 30 , 2026 FINANCIAL RESULTS TORONTO , Ontario - E - L Financial Corporation Limited ( “ E - L Financial ” or the “ Company ” ) ( TSX : ELF ) ( TSX : ELF.PR.F ) ( TSX : ELF.PR.G ) ( TSX : ELF.PR.H ) today reported a net equity value per common share of $ 27.37 as at June 30 , 2026 , an increase of 7.5 % compared to $ 25.45 as at December 31 , 2025 and an increase of 17.5 % compared to $ 23.29 at June 30 , 2025 . For the second quarter ended June 30 , 2026 , E - L Financial reported a consolidated shareholders ' net income of $ 1,011 million or $ 2.99 per common share compared to $ 365 million or $ 1.07 per common share in 2025. For the first six months of 2026 , E - L Financial reported a consolidated shareholders ' net income of $ 1,043 million or $ 3.08 per common share compared to $ 451 million or $ 1.32 per common share as at June 30 , 2025 . E - L Corporate E - L Corporate reported net income of $ 928 million for the second quarter of 2026 compared to $ 333 million in 2025. The increase in earnings was due to a net gain on investments of $ 1,128 million in 2026 compared to $ 373 million in 2025. E - L Corporate's global investment portfolio had a pre - tax total return , including dividend income , of 15 % in the second quarter of 2026 compared to a pre - tax total return of 6 % in the prior year . E - L Corporate reported net income of $ 954 million for the first six months of 2026 compared to $ 349 million in 2025. The increase in earnings was due to a net gain on investments of $ 1,009 million in 2026 compared to $ 303 million for the comparative period in 2025. E - L Corporate's global investment portfolio had a pre - tax total return , including dividend income , of 14 % in the first six months of 2026 compared to a pre - tax total return of 7 % in the prior year . Empire Life Empire Life reported second quarter common shareholders ' net income of $ 83 million , a $ 51 million increase compared to the second quarter of 2025. This increase was primarily driven by a stronger net investment and insurance finance result , supported by favourable impacts from interest rates movements and non - fixed income asset performance . The net insurance service result also improved in the Wealth Management and Group Solutions segments , though these gains were partially offset by higher strategic investments in technology . Empire Life reported a net income of $ 89 million for the first six months of 2026 compared to $ 102 million for the comparable period in 2025. This variance was driven by less favourable impacts from mortality and long - term disability claims experience during the year , as well as higher expenses , reflecting targeted investments in technology infrastructure and workforce expenditures . Empire Life's Life Insurance Capital Adequacy Test total ratio was 159 % at June 30 , 2026 compared to 153 % at December 31 , 2025 , well above the requirements set by the Office of the Superintendent of Financial Institutions Canada as well as Empire Life's minimum internal targets .