Great West Lifeco : Trousse de renseignements additionnels (document PDF en anglais)

Supplemental Information Package For Analysts and Investors (Unaudited)

Q4 2021

Q4 2021 Quarterly Information Package

Cautionary Note regarding Non-GAAP Financial Measures and Ratios

This document contains some non-GAAP financial measures and non-GAAP ratios as defined in National Instrument 52-112"Non-GAAP and Other Financial Measures Disclosure". Terms by which non-GAAP financial measures are identified include, but are not limited to, "base earnings (loss)", "premiums and deposits", "assets under management" and "assets under administration". Terms by which non-GAAP ratios are identified include, but are not limited to, "base earnings per common share (EPS)" and "base return on equity (ROE)". Non-GAAP financial measures and ratios are used to provide management and investors with additional measures of performance to help assess results where no comparable GAAP (IFRS) measure exists. However, non-GAAP financial measures and ratios do not have standard meanings prescribed by GAAP (IFRS) and are not directly comparable to similar measures used by other companies. Additional information regarding these non-GAAP financial measures and non-GAAP financial ratios has been incorporated by reference and can be found in the Non-GAAP Financial Measures and Ratios section of the Company's 2021 Annual Management's Discussion and Analysis (MD&A), available for review on SEDAR at www.sedar.com.

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Q4 2021 Quarterly Information Package

Table of Contents

Overview	3	United States	40
		Consolidated Statements of Net Earnings	41
Great-West Lifeco Inc.	4	Financial Services Consolidated Statements of Net Earnings	42
Lifeco Financial Highlights	5	Reinsured Insurance & Annuity Business	43
Lifeco Common Shareholder Net Earnings	6	Empower	44
Lifeco Base Earnings	7	Personal Capital	45
Lifeco - Reconciliation of Earnings	8	U.S. Other	46
Canada - Reconciliation of Earnings	9	Empower Participants and Assets Under Administration	47
U.S. - Reconciliation of Earnings	10	Asset Management Statements of Net Earnings	48
Europe - Reconciliation of Earnings	11	Asset Management Assets Under Management	49
Capital and Risk Solutions - Reconciliation of Earnings	12	Participating Account Statements of Net Earnings	50
Lifeco Corporate - Reconciliation of Earnings	13	Corporate Statements of Net Earnings	51
Currency Translation Rates	14	U.S. Balance Sheets	52
Financial Strength - Credit Ratings	15
Lifeco Common Shares Outstanding	16	Europe	53
Lifeco Financial Ratio Highlights	17	Consolidated Statements of Net Earnings	54
The Canada Life Assurance Company - OSFI Regulatory Capital - 2021 vs. 2020	18	U.K. Statements of Net Earnings	55
The Canada Life Assurance Company - LICAT	19	Ireland Statements of Net Earnings	56
		Germany Statements of Net Earnings	57
Lifeco		Participating Account Statements of Net Earnings	58
Capital Structure	20	Corporate Statements of Net Earnings	59
Statements of Net Earnings	21	Europe Balance Sheets	60
Balance Sheets	22
Supplemental Balance Sheet Information	23	Capital and Risk Solutions	61
Impaired Loans and Credit Losses	24	Consolidated Statements of Net Earnings	62
Cash Flow Statements	25	Reinsurance Statements of Net Earnings	63
Statements of Accumulated and Contributed Surplus	26	Participating Account Statements of Net Earnings	64
Reconciliation of Accumulated Other Comprehensive Income	27	Corporate Statements of Net Earnings	65
Sales	28	Capital and Risk Solutions Balance Sheets	66
Premiums & Deposits	29
Fee and Other Income	30	Lifeco Corporate Statements of Net Earnings	67
Operating and Administrative and Investment Expenses	31
		Lifeco Consolidated Source of Earnings	68
Canada	32	Canada Consolidated Source of Earnings	69
Consolidated Statements of Net Earnings	33	U.S. Consolidated Source of Earnings	70
Individual Customer Statements of Net Earnings	34	Putnam Source of Earnings	71
Group Customer Statements of Net Earnings	35	Europe Consolidated Source of Earnings	72
Canada Wealth Assets Under Administration	36	Capital and Risk Solutions Consolidated Source of Earnings	73
Participating Account Statements of Net Earnings	37	Corporate Consolidated Source of Earnings	74
Corporate Statements of Net Earnings	38
Canada Balance Sheets	39

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Q4 2021 Quarterly Information Package

Lifeco Overview

Great-West Lifeco Inc. (GWO, Lifeco or the Company) is a financial services holding company with interests in the life insurance, health insurance, retirement savings, investment management, and reinsurance businesses, primarily in Canada, the United States, and Europe through its operating subsidiaries including The Canada Life Assurance Company, Great-West Life & Annuity Insurance Company, Putnam Investments, LLC and Irish Life Group Limited. Lifeco is a member of the Power Corporation group of companies.

Investor Relations Contact Information
David McCarthy	Deirdre Neary
Executive Vice-President & Deputy Chief Financial Officer	Assistant Vice-President, Investor Relations
Great-West Lifeco Inc.	Great-West Lifeco Inc.
330 University Avenue	330 University Avenue
Toronto, ON M5G 1R8	Toronto, ON M5G 1R8
Tel: [phone]	Tel: [phone]
E-mail: [e-mail]	E-mail: [e-mail]

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Great-West Lifeco Inc.

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