1 Sun CI Linked Deposit Notes, Protection Plus Class, Series 1 Internal Use Only Do Not Copy

1

Sun CI Linked Deposit Notes, Protection Plus Class, Series 1

Internal Use OnlyDo Not Copy

2

The information contained herein is confidential and for advisor use only. The information contained herein is not to be reproduced or distributed to the public or the press.

This presentation is not an offer or a solicitation of an offer or a recommendation to buy or sell any securities or financial instruments, nor shall it be deemed to provide investment, tax or accounting advice. The information contained herein is intended as a summary only and is qualified entirely by, and should be read in conjunction with, the more detailed information appearing in the Information Statement. Details regarding the dynamic allocation strategy, calculation and payment of interest,, the notional portfolio, repayment of principal at maturity and certain risk factors are contained in the Information Statement. Any examples in this presentation are included for illustrative purposes only and are not intended to predict actual results, which may differ substantially from those reflected herein.

Sun Life Financial Trust Inc., a member of the Sun Life Financial group of companies, is the sole issuer of the Sun CI Linked Deposit Notes, Protection Plus Class, Series 1 product. © Sun Life Financial Trust Inc., 2006.

®Harbour Fund is a registered trademark of CI Investments Inc. ™CI, CI Investments, Signature Advisors, Signature and the CI Investments design are trademarks of CI Investments Inc.


3

An effective investment alternative

Continued low interest rate environment:Recent increases have not been significant although it’s translated into losses for bond

portfolios.

Strong Canadian Equity market: One of the top performing markets over the past three years.

Forecasters recommend rebalancing holdings and/or locking in gains.

If your clients• Want principal protection and are willing to accept possibility of no return to access upside

potential of equity investments.

• Want to make the most of upcoming investment opportunities in the Canadian market,

• Are concerned about market volatility and want to lock-in the gains made in the Canadian market

• Have a conservative profile or are considering switching out of low-yield fixed income products.

Consider

Sun CI Linked Deposit Notes, Protection Plus Class, Series 1Providing your clients with increased potential for higher returns with capital protection


4

Sun CI Linked Deposit Notes, Protection Plus Class, Series 1Key Features

Performance linked to a diversified Fund Portfolio that has historically offeredstability:

Signature High Income FundSignature Dividend FundHarbour Fund

Dynamic Asset Allocation Strategy • Potential for 200% exposure to the underlying Fund Portfolio when the performance

is positive.• Hedge against losses when performance of the underlying Fund Portfolio is negative

100% Protection of the initial investment at maturity regardless of the performance of the Fund Portfolio.

Tax Efficient• Interest income will not be taxed until it is paid at maturity. • Potential capital gains/loss treatment if Notes are sold prior to maturity. BMO Nesbitt

Burns will provide a daily secondary market for the Notes. Notes sold prior to maturity will be subject to an early trading charge, deductible from the proceeds of the Notes, in the first 720 days from issuance.


5

A Diversified Fund Portfolio for stability and steady growth

Growth of $10,000 Investment5 Years Ending March 2006

$17,773

$15,845

$12,272

$9,000

$11,000

$13,000

$15,000

$17,000

$19,000

Mar

-01

Sep-

01

Mar

-02

Sep-

02

Mar

-03

Sep-

03

Mar

-04

Sep-

04

Mar

-05

Sep-

05

Mar

-06

Portfolio

Benchmark

5-yr GIC


1/3 Signature High Income, 1/3 Signature Dividend, 1/3 Harbour

Sector Breakdown - March 2006

Business Services, 4.3%

Cons Goods, 2.5%

Cons Services, 2.4%

Hardware, 1.0%

Software, 0.2%

Telecom, 1.8%

Health Care, 0.2%

Media, 1.6%

Other, 0.0%

Utilities, 1.2%

Cash, 11.0%

Energy, 19.5%

Financials, 21.3%

Industrial Materials,

10.2%

Sources: CI Investments, Globe Hysales, Bank of Canada

Backtested Performance ReturnStandard Deviation Sharpe Ratio Upside Capture

Downside Capture

As at March 31, 2006 1y 3y 5y 3y 5y 3y 5y 3y 5y 3y 5y

Portfolio 19.0% 18.6% 12.2% 6.2% 6.4% 2.36 1.31 110% 107% 95% 75%

Benchmark* 17.7% 16.8% 9.6% 5.6% 6.4% 2.33 0.90 100% 100% 100% 100%

*60%TSX / 40%SC Universe Bond Index

6

How Does the Dynamic Asset Allocation Work? Constant Proportion Portfolio Insurance (CPPI) Structure

• On the Issue Date, 100% of the net proceeds of the Basket will be allocated to the Fund Portfolio.• The Deposit Notes will be dynamically allocated between the Fund Portfolio and a Notional Bond

Portfolio (and the Option if applicable). It will be rebalanced from time to time in accordance to a pre-determined asset allocation formula.

• The leveraging or de-leveraging of the Fund Portfolio will occur based on the Distance between the basket NAV and the price of the coupon bond.

• The dynamic asset allocation strategy provides 100% initial exposure (with potential for 200% exposure) to the Fund Portfolio and 100% principal protection ($100 per note) at maturity.

• A reallocation will occur after a significant change in Distance has taken place.


Fund Portfolio

Reallocation according to the pre-determined allocation grid

Net proceeds of $97 is anticipated to be fully invested into the Fund Portfolio.

Bond Portfolio

Initial Purchase $100

7

Time

Value

Principal Repayment($100)

Basket Value

Price of theCoupon Bond

Maturity

Dele

vera

ging

Leve

ragi

ngDistance

Dynamic Asset Allocation Strategy

Initial Investment($97)

“Distance” is the Benchmark for Rebalancing


Rele

vera

ging

8

How do Sun CI Deposit Notes determine exposure?


The greater the distance, the greater the allocation to the Fund Portfolio, up to a possible 200%.

The weighting of the Fund Portfolio will be monitored daily and adjusted accordingly.Any added exposure to the Fund Portfolio is achieved by borrowing funds through a low cost loan facility (the cost of leverage is one-month BA’s plus 0.25% p.a.)

Dt = % Difference between the Basket NAV and theoretical 5-year, Coupon Bond Value

Distance Weighting

Dt > 35% 200%

30% <Dt=< 35% 170%

25% <Dt=< 30% 140%

20% <Dt=< 25% 120%

10% <Dt=< 20% 100%

8% <Dt=< 10% 80%

7% <Dt=< 8% 70%

6% <Dt=< 7% 60%

5% <Dt=< 6% 50%

4% <Dt=< 5% 40%

3% <Dt=< 4% 30%

2% <Dt=< 3% 20% Dt=< 2% 0%

9

Benefits of Increased Exposure


-Increased monthly distribution potential. At 150% exposure, Enhanced Yield Series 2 will REINVEST & DISTRIBUTE AN ADDITIONAL 50% MORE than the underlying fund on a go-forward basis.- Greater exposure provides added leverage to maximize total return potential while principal protection returns original capital even with negative performance.

CI’s CPPI Notes Current Exposure

Enhanced Yield Series 1 issued 3/25/05 100%



Enhanced Series 4 / ROC Series 1 issued 9/21/05 110%

CIBC CI MAX Deposit Notes Series 1 issued 11/16/05 105%

Source: BMO & CIBC Calculation Agents As of April 28,2006

10

Protective Benefits in October


CI’s CPPI NotesOutperformance vs. Funds (October 2005)

Enhanced Yield Series 1 issued 3/25/05 + 1.1%



Enhanced Series 4 / ROC Series 1

issued 9/21/05 + 2.6%

The trust market lost over 10% in October following the Minister of Finance’s suspension of advanced tax rulings. The Notes’ defensive positioning in October allowed them to outperform the market and underlying funds as the reduced exposure limited downside volatility.

Source: Globeinvestor.com, CI Investments

11

• 100% Reinvestment of Fund Distributions – 100% of any distributions that may be payable by the Fund Portfolio will be reinvested in additional Units in the Basket.

• Tax Efficient – Interest income should not be taxed until it is paid at maturity, providing the potential for tax deferred growth. Potential capital gains/loss treatment if Deposit Notes sold prior to maturity.

• Enhanced Performance – Reinvestment of Fund Distributions should increase Distance, providing the opportunity for increased exposure to the Fund Portfolio.

Benefits of Reinvestment of Fund Distributions


12

Reinvestment feature: Example of Positive Performance


This example assumes MER of the Fund Portfolio is 1.99%, a constant borrowing rate of 3.95%, and a constant yield on the Fund of 4.65% over the five-year term of the Deposit Notes.

0.00

20.00

40.00

60.00

80.00

100.00

120.00

140.00

160.00

180.00

200.00

0 1 2 3 4 5

time (years)

Do

llars

per

$10

0 N

ote

NAV

Fund Price Performance

Coupon Bond Price

Loan

Basket Value: 161.79Fund Value: 146.55Outperformance: 10.4%

13

If the Distance "Dt" falls to 2.0% or below, then the assets would become fully allocated to Bonds and Options will track 20% of the performance of the underlying Fund Portfolio as if 100% of the distributions on Units are reinvested in the Basket. If the Distance recovers (above 2.0%), then allocations to the Fund Portfolio will occur and no Options will be included.

Reinvestment Feature: Enhancement


At current rates, The initial Dt is approximately 13.2%, which allocates 100% to the underlying portfolio

14

Reinvestment Feature: Example of Protection Event


This example assumes MER of the Fund Portfolio is 1.99%, a constant borrowing rate of 3.95%, and a constant yield on the Fund of 4.65% over the five-year term of the Deposit Notes.

0.00

20.00

40.00

60.00

80.00

100.00

120.00

0 1 2 3 4 5

time (years)

Do

lla

rs p

er

$1

00

No

te

NAV

Fund Price PerformanceCoupon Bond Price

Basket Value: 102.08Fund Value: 93.75Outperformance: 8.9%

15

Fees and Expenses of the Sun CI Linked Deposit Notes Protection Plus Class, Series 1


An Early Trading Charge will apply to secondary market redemption orders placed within the first 720 days from issuance determined as follows:

If redeemed within 1 to 180 days 181 to 360 days 361 to 540 541 to 720

4.00% 3.00% 2.00% 1.00%

Maximum fee of 2.95%

Total Fees on FP

Total Fees on NBP

2.95%

0.95%

=

=

100%+ Allocated to Fund Portfolio

100% Allocated to Notional Bond Portfolio

Rebalancing between the Fund Portfolio and the NBP will determine fee charges.Maximum fee does not include any fees/costs associated with leveraging. The initial basket value and variable return will be based on $97 per note.

16

Benefits of the Sun CI Linked Deposit Notes Protection Plus Class Structure in any market scenario In market conditions where the Fund Portfolio performs well, additional

exposure to the Fund Portfolio may be achieved through leverage generating enhanced returns.

In market conditions where the Fund Portfolio performs negatively, reduced exposure to the Fund Portfolio may dampen losses in an effort to allow participation in any subsequent recovery.

In a rising interest rate environment, continued exposure to the Fund Portfolio increases growth potential to keep pace with higher interest rates.

In a declining interest rate environment, reinvestment of all distributions will help preserve exposure to the Fund Portfolio.

100% capital protection at maturity regardless of the performance of the Fund Portfolio.


17

Summary of Terms

Issuer Sun Life Financial Trust Inc.

Issue Date July 26, 2006

Maturity Date July 27, 2011 (Term to Maturity: Five years)

Issue Size Subscription Price: $100 per Deposit NoteMinimum Purchase: $2,000 (20 Deposit Notes)

Maximum Issue $25 Million. Sun Life Financial Trust Inc. reserves the right to increase amount.

Fees & Expenses Blended rate equal to 2.95% of value of units of Fund Portfolio and 0.95% of the face amount of the Notional Bond Portfolio. Interest on loan facility of BA’s, plus 25 bps per annum. All fees and expenses calculated daily and payable monthly in arrears.

Compensation 3.0% compensation paid up front, 0.50% annual trailer / paid quarterly.

Eligibility 100% eligible for RRSP, Spousal RRSP, Open and LIRA/Locked-in RSP accounts. For RSP accounts, BMO Trust Company will act as trustee. Note: The product cannot be purchased for an RRSP account by clients who turn age 65 or older by December 31, 2006.

Secondary Market BMO Nesbitt Burns, subject to normal conditions, will use reasonable efforts to maintain a secondary market for the Notes. Notes sold in the secondary market will be subject to an early trading charge, deductible from the proceeds of the Notes, for the first 720 days from issuance .

Selling period May 29 – July 7th


18

Advisor Tools

• Conference Call replay(with synchronized PPT)

• Road Map• Advisor Guide• PowerPoint Presentation • Client Flyer• Prospecting Letter• Admat


For more information please visit

www.ci.com/depositnotes

19

THANK YOU

For more information please visit:

www.ci.com/depositnotesor

Contact your CI Sales Team


Documents

1 Sun CI Linked Deposit Notes, Protection Plus Class, Series 1 Internal Use Only Do Not Copy