Mr. Stephane Lemay of Power Corp. reports

POWER CORPORATION, GREAT WEST AND IGM FINANCIAL ANNOUNCE JOINT INVESTMENT IN SAGARD AI FUND

Power Corp. of Canada, Great-West Lifeco Inc. and IGM Financial Inc. have arranged a combined $150-million (U.S.) investment in the newly established Sagard AI Fund LP.

The fund is a closed-end investment vehicle focused on backing leading artificial intelligence companies that are accelerating the adoption of AI across financial services and other key sectors globally.

This investment forms part of a broader approach across the Power group to engage early and meaningfully with AI as a foundational technology -- supporting long-term growth, productivity gains, talent development, and enhanced client and adviser experiences.

AI is increasingly expected to play a transformational role across insurance, wealth management, asset management and retirement services. Through this investment, Power Corp., Great-West and IGM are strengthening their ability to remain informed and pro-active as AI continues to evolve rapidly while creating practical pathways to deploy AI-driven solutions across their respective businesses.

The fund has been established to provide the Power group with:

• Access to global AI market intelligence, including insight into leading AI-first companies across sectors and geographies;
• Structured strategic engagement, enabling commercial partnerships, pilot initiatives and real-world application opportunities across the group;
• Potential for incremental investment opportunities in companies demonstrating strong strategic alignment;
• Attractive long-term return potential, supported by a disciplined and diversified AI investment approach.

Leveraging Sagard's expertise investing in transformative companies globally, the fund is designed to combine capital deployment with active engagement, providing the Power group with early exposure to innovative AI companies while supporting thoughtful and responsible integration of AI capabilities within their operating businesses.

The Power group expects AI to meaningfully enhance decision making, operational efficiency, and the delivery of financial advice and solutions over time.

About Power Corp. of Canada

Power Corp. is an international management and holding company that focuses on financial services in North America, Europe and Asia. Its core holdings are leading insurance, retirement, wealth management and investment businesses, including a portfolio of alternative asset investment platforms.

About Great-West Lifeco Inc.

Great-West is a financial service holding company focused on building stronger, more financially secure futures. It operates in the United States, Canada and Europe under the brands Empower, Canada Life and Irish Life. Together, it provides wealth, retirement, group benefits and insurance, and risk solutions to its approximately 40 million customer relationships. As of March 31, 2026, Great-West's total client assets were $3.3-trillion. Great-West is a member of the Power Corp. group of companies.

About IGM Financial Inc.

IGM Financial is a leading Canadian diversified wealth and asset management organization with approximately $326-billion in total assets under management and advisement as of April 30, 2026. IGM's activities are carried out principally through IG Wealth Management and Mackenzie Investments and are complemented by strategic positions in wealth managers Rockefeller Capital Management and Wealthsimple and asset managers ChinaAMC and Northleaf Capital. These strengthen IGM's capabilities, reach and diversification. IGM is a member of the Power Corp. group of companies.