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IgM Financial NEWS RELEASE Readers are referred to the disclaimer regarding Forward - Looking Statements , Non - IFRS Financial Measures and Additional IFRS Measures at the end of this Release . IGM FINANCIAL INC . REPORTS FOURTH QUARTER AND 2020 EARNINGS Winnipeg - February 11 , 2021 : IGM Financial Inc. ( IGM or the Company ) ( TSX : IGM ) today announced earnings results for the fourth quarter of 2020 and for the year ended December 31 , 2020 . IGM HIGHLIGHTS • • • • Fourth quarter net earnings of $ 229.1 million or 96 cents per share compared to $ 191.6 million or 80 cents per share in the fourth quarter 2019 . Fourth quarter adjusted net earnings , excluding other items , 1 of $ 204.3 million or 86 cents per share compared to $ 200.8 million or 84 cents per share in the fourth quarter 2019. Adjusted earnings per share of 86 cents represented the highest fourth quarter result in the Company's history . Annual net earnings of $ 764.4 million or $ 3.21 per share compared to $ 746.7 million or $ 3.12 per share in 2019 . Annual adjusted net earnings , excluding other items , ¹ of $ 762.9 million or $ 3.20 per share compared to $ 763.9 million or $ 3.19 per share in 2019 . Record high assets under management and advisement of $ 240.0 billion , up 6.7 % in the quarter and 10.3 % in the year ( excluding $ 30.3 billion in net business acquisitions ) . Record high fourth quarter net inflows of $ 2.2 billion and record high full year net inflows of $ 7.1 billion , compared to net outflows of $ 7 million in the fourth quarter of 2019 and net outflows of $ 1.7 billion in 2019 . " We are pleased with the momentum in our business as we ended 2020 , with record high asset levels , net flows and adjusted net earnings per share in the fourth quarter , " said James O'Sullivan , President and Chief Executive Officer of IGM Financial Inc. " We also closed a number of important acquisitions in the quarter that enhance our product capabilities while expanding our distribution reach . " WEALTH MANAGEMENT Reflects the activities of operating companies that are principally focused on providing financial planning and related services to Canadian households and includes the activities of IG Wealth Management and Investment Planning Counsel . Adjusted EBIT in the fourth quarter of 2020 was $ 188.7 million and represented 65.3 % of IGM's adjusted EBIT . This was a decrease of 6.3 % compared to the fourth quarter of 2019 and an increase of 0.9 % compared to the third quarter of 2020 . Record high assets under advisement at December 31 , 2020 of $ 132.6 billion , an increase of 6.1 % from $ 125.0 billion at September 30 , 2020 and an increase of 6.2 % from $ 124.8 billion at December 31 , 2019 . IG Wealth Management Record high assets under advisement at December 31 , 2020 of $ 103.3 billion , an increase of 5.9 % from $ 97.5 billion at September 30 , 2020 and an increase of 6.4 % from $ 97.1 billion at December 31 , 2019 . Page 1 ΙΩΜ IG WEALTH MACKENZIE MANAGEMENT Investments Investment Planning Counsel FINANCIAL SOLUTIONS FOR LIFE