Investor Presentaiton

Europe Segment Overview Operations in the U.K., Ireland and Germany Market leader in group risk, a leading player in payout annuities and a strong competitor in the equity release mortgage market in the U.K. Irish Life has leadership positions across all products-pension, investment savings and protection - and channels in Ireland Leading position in unit-linked products sold through brokers in Germany Earnings and ROE 1,2 (C$m) 1,004 Net 796 913 Base 688 2019 2020 16% 13% 16% 12% Return on Equity & Base Return on Equity Recent Highlights Irish Life canada life Other Key Metrics 2,3 Base Earnings by Geography* Germany 22% U.K. 48% Ireland 30% *Excludes Corporate base loss of ($13m) Canada Life U.K. continues its transformation program to build out a differentiated retirement-focused wealth offering Irish Life continues to develop capabilities and grow share in the occupational and personal pensions markets through targeted M&A; it is also focused on growing sales with its bank distribution partners Information systems investments in Germany are supporting an expansion of our small case occupational pensions capabilities 1. Base earnings, return on equity (ROE), and base return on equity are non-IFRS measures. Refer to the Company's Annual Reports and MD&A filings for definitions and details and the appropriate reconciliations of these non-IFRS measures to measures prescribed by IFRS. 2. In C$ millions 3. For fiscal year 2020 11

View entire presentation