Investor Presentaiton

Strong regulatory capital position Regulatory Capital Ratios OSFI Minimum 90% OSFI Supervisory Target 100% GWL Target Range 110% - 120% GWL Ratio 140% GREAT-WEST LIFECO INC. GWL LICAT Ratio Total Regulatory Capital Available Regulatory Required Capital $26.8 Billion $19.2 Billion 140% ■ GWL's¹ consolidated LICAT ratio is 140% ■ GWL'S LICAT ratio is above the internal target range of 110% - 120% ■ The Company intends to operate toward the high end of the internal target range ■ Lifeco cash of $1 billion is not included in the LICAT ratio Note: As of December 31, 2018 1. The Great-West Life Assurance Company 19

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