An anonymous director reports

GREAT-WEST LIFECO ANNOUNCES AUTOMATIC SHARE PURCHASE PLAN

Great-West Lifeco Inc., in connection with its previously announced normal course issuer bid (NCIB) to purchase for cancellation up to 20 million common shares, has entered into an automatic share purchase plan (ASPP) with a designated broker. The ASPP has been precleared by the Toronto Stock Exchange and is expected to be implemented on or about March 5, 2024.

The ASPP is intended to facilitate repurchases of common shares under the NCIB, including at times when the corporation would ordinarily not be permitted to make purchases due to regulatory restrictions or self-imposed blackout periods. Purchases will be made by the corporation's broker at its sole discretion based on parameters set by the corporation in accordance with TSX rules, applicable law and the terms of the parties' written agreement. Outside of blackout periods, common shares may also be purchased based on management's discretion, in compliance with TSX rules and applicable law.

The corporation's NCIB commenced on Jan. 29, 2024, and will continue until Jan. 28, 2025, when the bid expires, or such earlier date as the corporation completes its purchases pursuant to the notice of intention filed with the TSX. All purchases of common shares made under the ASPP will be included in determining the number of common shares purchased under the NCIB. Any common shares purchased by the corporation pursuant to the NCIB will be cancelled.

About Great-West Lifeco Inc.

Great-West Lifeco is an international financial services holding company with interests in life insurance, health insurance, retirement and investment services, asset management, and reinsurance businesses. The company operates in Canada, the United States and Europe under the brands Canada Life, Empower and Irish Life. At the end of 2023, Great-West companies had over 33,500 employees, 232,000 adviser relationships and thousands of distribution partners -- serving approximately 42 million customer relationships. Great-West Lifeco trades on the Toronto Stock Exchange (TSX) under the ticker symbol GWO and is a member of the Power Corp. group of companies.