Investor Presentaiton

Long track record of consistent execution GREAT-WEST LIFECO INC. Adjusted Net Earnings¹ (C$M) $3,500 $3,000 $2,500 $2,000 Canada Life $1,500 $1,000 London Life $500 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 Putnam Irish Life 30% Empower launch 25% 2011 2012 2013 2014 2015 2016 2017 2018 20% 15% 10% 5% 0% Adjusted Net Earnings -Adjusted ROE 1. Adjusted net earnings and adjusted ROE are non-IFRS measures. Please refer to the Company's Annual Reports and Management's Discussion and Analysis filings for details on these adjustments and the appropriate reconciliations of these non-IFRS measures to measures prescribed by IFRS. In past years, the term 'operating earnings' was also used to denote adjustments applied to the net earnings figures prescribed by IFRS. 15

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