Power Corporation of Canada (Power Corporation or the Corporation) (TSX: POW) today reported earnings results for the three and nine months ended September 30, 2020.

GREAT-WEST LIFECO INC.

Net earnings attributable to common shareholders were $826 million or $0.891 per share, compared with $730 million or $0.786 per share in 2019. Adjusted net earnings [5] attributable to common shareholders were $679 million or $0.732 per share, compared with $677 million or $0.729 per share in 2019. Adjustments in the third quarter of 2020, excluded from adjusted net earnings, were a net positive impact to earnings of $147 million, compared with a net positive impact to earnings of $53 million in 2019. Lifeco's adjustments in 2020 consisted of a net positive impact of actuarial assumption changes and other management actions, market-related impacts on liabilities and a net gain on the sale of Irish Progressive Services International Limited, offset by transaction costs related to the acquisitions of Personal Capital and MassMutual.

About Power Corporation

Power Corporation is an international management and holding company that focuses on financial services in North America, Europe and Asia. Its core holdings are leading insurance, retirement, wealth management and investment businesses, including a portfolio of alternative asset investment platforms.

Contact:

Tel: 2287879

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