Investor Presentaiton

Empower's Acquisition of Personal Capital Adds best-in-class hybrid digital wealth management platform to Empower • High growth direct-to-consumer wealth management business focused on large mass affluent market Accelerates Empower's strategy by creating an integrated retirement and wealth platform • • • • Profitable business prior to customer acquisition costs (CAC) with attractive new customer Lifetime Value (LTV) / CAC Strategic focus and investment in driving strong asset growth Significantly accelerates the growth of Empower's existing DC-focused retail wealth management platform by integrating Personal Capital's technology and capabilities Empower will leverage Personal Capital's capabilities to enhance its direct-to-consumer retail offering, leading to increased rollovers, roll-ins and a larger share of wallet Empower, including Personal Capital, has U$33B in individual wealth assets under administration, as at December 31, 2020 Enhances Empower's successful Defined Contribution business with the addition of leading financial planning and financial wellness capabilities • Increase DC plan sales . Drive usage of managed accounts . Grow participants' out-of-plan asset capture EMPOWER RETIREMENT™ personal CAPITAL 9

View entire presentation