Mr. Jeffrey Orr reports

POWER CORPORATION ANNOUNCES EXECUTIVE APPOINTMENT

Power Corp. of Canada's board of directors has approved the appointment of Jake Lawrence as executive vice-president and chief financial officer, effective March 18, 2024.

Mr. Lawrence has an extensive background in financial services, having worked at Scotiabank for the past 22 years in progressively senior roles in both Canada and the United States. Mr. Lawrence was most recently chief executive officer and group head, global banking and markets, with responsibility for Scotiabank's corporate and investment banking as well as capital markets globally. He is a member of the Advisory Council for Women in Capital Markets and chair of the Canadian Advisory Board for Right To Play, and previously has served as the chair of the Ontario Housing Affordability Task Force. He holds an honours bachelor of arts degree from Lakehead University and a master of business administration degree from Wilfrid Laurier School of Business and Economics.

"I am delighted to welcome Jake to Power Corp.," said R. Jeffrey Orr, president and chief executive officer. "His impressive track record of leadership and wealth of experience in the financial services industry will contribute significantly to the growth and success of our group."

Mr. Lawrence will replace Gregory D. Tretiak, who joined Power Corp. in 2012 as chief financial officer. Mr. Tretiak made an immense contribution to the Power group of companies over 40 years, including 28 years at IGM Financial.

"On behalf of everyone at Power, I want to thank Greg for his long-standing dedication to our group," said Mr. Orr. "Greg has been an outstanding partner and colleague. We have benefited tremendously from his energy and wise judgment over many decades."

Mr. Lawrence will also serve as executive vice-president and chief financial officer of Power Financial Corp., a subsidiary of the corporation.

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.

We seek Safe Harbor.