Investor overview presentation

INVESTOR OVERVIEW

A global financial services company

Capital &

Risk

Solutions

21%

Canada

31%

3

175+ Years

Of History

$3.1T

Assets Under Administration2,3

6th

Largest Life Insurer

in North America1

$1.0T

Assets Under Management2,3

$3.7B

Base Earnings3,4

Europe

21%

GREAT-WEST LIFECO

Europe

13%

US

26%

OVERVIEW

Great-West Lifeco at-a-glance

A global financial services company with interests in life insurance, health insurance, retirement and investment services, asset

INVESTOR

4

GREAT-WEST LIFECO

management and reinsurance businesses.

Key Metrics

In C$, unless otherwise noted

Corporate Structure5

68.2%

62.5%

Financial Strength Ratings3, Regulatory Capital and Liquidity

INVESTOR OVERVIEW

Diversified, market-leading franchises

Capital & Risk Solutions

5

A leader in workplace and wealth management serving 1 in 3 Canadians

Top-3 in group life and health3, and retirement4

Top-3 in individual life4

Multiple, complementary distribution channels

A U.S. financial services challenger brand serving 18m+ Americans through the workplace and directly

Second largest retirement services provider5 in the U.S.

Empower Personal Wealth launched to expand retail wealth management focus

Irish Life is #1 in workplace retirement and risk6, #1 in pensions and investments7

U.K.: Leading position in group protection8; strong position in retirement income solutions

1. growing position in the broker- sold pension savings market in Germany

Top-10 global reinsurer9

Leading provider of structured life reinsurance solutions in the U.S. and Europe

Leading provider of U.K. and other European annuity / longevity reinsurance

GREAT-WEST LIFECO

Footnotes 1, 3 - 9: Refer to slide 27 2. This metric is a non-GAAP financial measure. Refer to "Non-GAAP Financial Measures and Ratios" in the Appendix and in our Q3 2024 MD&A

21%

of base earnings1,2

INVESTOR OVERVIEW

Medium-term1 objectives

Supported by our repositioned portfolio with significant organic and extension growth potential

8

8-10%

base EPS2 growth p.a.

• Organic earnings growth from market- leading franchises
• Digital investments drive business extensions and cost optimization
• Harvesting revenue and expense synergies from acquisitions

16-17%

base ROE2

• Diversified businesses drive strong and stable returns
• Wealth and asset management provides capital-light growth
• Leveraged capital management and risk management expertise

45-55%

target dividend payout ratio, base earnings2

• Cash generative business supports a progressive dividend policy in line with expected earnings growth
• Balanced approach between maintaining financial strength and strategic capital deployment

GREAT-WEST LIFECO

1. Medium-term defined as the next 3-5 years 2. Base earnings per common share (EPS), base retuon common shareholders' equity (ROE) and target dividend payout ratio (base) are non-GAAP ratios calculated using base earnings, a non-GAAP financial measure. Refer to "Non-GAAP Financial Measures and Ratios" in the Appendix, in our 2023 Annual MD&A and our Q3 2024 MD&A. Footnotes 3 - 4: Refer to slide 27

INVESTOR OVERVIEW

Our ambitions

Building Better Financial Futures

9

Formation of Employee Resource Groups for LGBTQ2+, Black and

Persons of Colour, Indigenous Peoples, Persons with Disabilities, and Women in Leadership

GREAT-WEST LIFECO

Partnering for a More Sustainable Future

Footnotes 1-3: Refer to slide 27