Power Corporation of Canada (POW) NBF’s 24th Annual Financial Services Conference summary

Strategic direction and leadership transition

• Strategy execution has focused on value creation through consistent earnings growth, simplification, and targeted acquisitions over the past six years.

• Leadership transitions have occurred across all major subsidiaries and the parent company in the past year, with new leaders well-versed in the business and industry.

• No significant changes are expected in strategic priorities or capital allocation with the new leadership.

• The company has built a strong leadership bench to ensure smooth transitions and continuity.

Business performance and growth outlook

• Great-West Life has delivered 12% EPS growth over four years, driven by organic investment and M&A, with Empower as the main earnings driver.

• Future returns are expected in the low- to mid-teens, with growth not dependent on further acquisitions but enhanced by them.

• IGM’s IG Wealth and Mackenzie have returned to net inflows, attributed to both market recovery and internal transformation.

• Strategic investments in wealth and asset management, such as Wealthsimple and Rockefeller, are expected to drive future growth.

Alternatives platform and capital deployment

• Alternatives platform growth is focused on Sagard and Power Sustainable, with significant capital invested and a target to reach $100 billion in AUM.

• Earnings from alternatives are expected to come from NAV creation and capital returns rather than immediate profits.

• Recent acquisitions, such as Unigestion, expand solutions for mid-market clients and diversify product offerings.

• Communication efforts are ongoing to better explain value creation in alternatives to investors.