Investor Presentaiton

Efficient capital structure GREAT-WEST LIFECO INC. Senior Debentures Subordinated Debentures Preferred Shares Euro Senior Debt U.S. Senior Debt Short-term borrowings by subsidiaries Capital Trust Securities Great-West Lifeco Inc. $1.9b $2.7b $1.6b Lifeco Finance LP $934m Lifeco Finance 2018, LP $1,078m Canada $100m $159m The Great-West Life Assurance Company (LICAT) Europe (Solvency II) Great-West Life & Putnam Investments Annuity Insurance Company (RBC) $235m $135m LLC $340m Reinsurance U.K. Ireland Germany Note: As of December 31, 2018 in Canadian dollars 22 22

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