Investor Presentaiton
ՏՈ
S
23
GREAT-WEST LIFECO
U.S.
Our Business
Empower is the second-largest retirement
services provider in the U.S.4, serving 82k
plans and over 18m5 individuals with AUA¹ of
US$1.5T5
We have a strong offering and are a
leading provider. Well positioned to
participate in any further industry
consolidation
Investing in building a household brand
Highlights
Completed the MassMutual retirement services business integration as of year-end 2022,
with participant, asset and revenue retention outperforming original expectations and
achieving targeted pre-tax run-rate cost synergies of US$160m; closed the Prudential
retirement services acquisition in April 2022 with integration proceeding on track.
Launched Empower Personal Wealth in February 2023, combining the Empower IRA
business and Personal Capital, our hybrid digital wealth manager.
Announced sale of Putnam Investments to Franklin Templeton, unlocking the value of
Putnam and facilitating the continued focus of our U.S. strategy on retirement and
personal wealth
EMPOWER®
Key Metrics
$0.8B/$0.5B
13%/8%
annual base earnings/
net earnings 1,2
base ROE /
net ROE1,3
Base Earnings by Value Drivers
Workplace
Solutions
$0.7B
Wealth & Asset
Management
88%
$0.8B1,2
12%
$0.1B
Base Earnings
1. Base earnings and AUA are non-GAAP measures and base return on common shareholders' equity (ROE) is a non-GAAP ratio calculated using base earnings, a non-GAAP financial measure. Additional information regarding these ratios/measures has been incorporated
by reference and can be found in the Non-GAAP Financial Measures and Ratios section of the Company's Q2 2023 MD&A, available for review on SEDAR+ at www.sedarplus.ca. Footnotes 2-5: Refer to slide 28View entire presentation