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Posted May 9 , 2013

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Quarterly Results

Sun Life Financial Reports First Quarter 2013 Results

TORONTO - Sun Life Financial Inc. had operating net income from Continuing Operations of $448 million in the first quarter of 2013, compared to $437 million in the first quarter of 2012. Our operating EPS from Continuing Operations was $0.75 in the first quarter of 2013, compared to $0.74 in the first quarter of 2012. Reported net income from Continuing Operations was $410 million or $0.68 per share in the first quarter of 2013, compared to reported net income from Continuing Operations of $405 million or $0.68 per share in the same period last year.

• Operating net income(1) from Continuing Operations(2) of $448 million, compared to $437 million in the first quarter of 2012. Reported net income from Continuing Operations of $410 million, compared to $405 million in the same period last year. Results reflect continued execution of our growth strategy, including product and distribution initiatives in recent quarters, and positive impact from investment activity and market factors

• Operating earnings per share(1) ("EPS") from Continuing Operations of $0.75, compared to $0.74 in the first quarter of 2012. Reported EPS from Continuing Operations of $0.68, compared to $0.68 in the same period last year

• Operating return on equity(1) ("ROE") (Combined Operations)(2)(3) of 15.8%, compared to 22.1% in the first quarter of 2012. Reported ROE (Combined Operations)(3) of 14.3%, compared to 20.9% in the same period last year

• Quarterly dividend of $0.36 per share

• MCCSR ratio for Sun Life Assurance(4) of 214%

Our financial results in the first quarter reflect continued execution of our growth strategy and positive impact from investment activity. Market factors, in particular higher equity markets, contributed favourably. Operating net income excluding the net impact of market factors(1) from Continuing Operations was $392 million. The following table sets out our operating net income measures for the first quarter of 2013.

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