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News Release For immediate release Power Corporation Reports First Quarter 2021 Financial Results RE POWER CORPORATION OF CANADA Readers are referred to the sections " Non - IFRS Financial Measures and Presentation " and " Forward - Looking Statements " at the end of this release . All figures are expressed in Canadian dollars unless otherwise noted . Montréal , Québec , May 13 , 2021 - Power Corporation of Canada ( Power Corporation or the Corporation ) ( TSX : POW ) today reported earnings results for the three months ended March 31 , 2021 . Power Corporation Consolidated results for the period ended March 31 , 2021 HIGHLIGHTS • The Corporation's net asset value ( NAV ) per share [ 1 ] was $ 45.94 at March 31 , 2021 , compared with $ 41.27 at December 31 , 2020 , an increase of 11.3 % . ■ The Corporation reported net earnings per share of $ 0.82 for the first quarter of 2021 , compared to net earnings per share of $ 0.36 for the first quarter of 2020. Adjusted net earnings per share [ 1 ] was $ 1.16 , compared to $ 0.62 per share in 2020 . ■ Great - West Lifeco Inc.'s ( Lifeco ) assets under administration were $ 2.1 trillion at March 31 , 2021 , an increase of 5 % from December 31 , 2020 . ■ IGM Financial Inc. ( IGM ) reported record assets under management and advisement of $ 248.5 billion , up 3.6 % in the quarter . ■ IGM's net earnings at March 31 , 2021 were $ 202.2 million or $ 0.85 per share , compared with $ 160.9 million or $ 0.68 per share in the first quarter of 2020. This represents a 25.0 % increase in earnings per share and is the highest first quarter result in IGM's history . Groupe Bruxelles Lambert's ( GBL ) NAV was € 21.1 billion at March 31 , 2021 , compared with € 20.5 billion at December 31 , 2020 , an increase of 2.9 % . ■ Wealthsimple Financial Corp. ( Wealthsimple ) announced a $ 750 million financing round on May 3 , 2021 , which values the Power group's investment at $ 2.6 billion compared to invested capital of $ 315 million . The Power group will receive proceeds of $ 500 million from a secondary offering and will retain an interest of $ 2.1 billion in Wealthsimple . Sagard Credit Partners II completed an additional closing in April 2021 , increasing the fund size to US $ 909 million . ▪ Launch of third fintech fund , Portage Ventures III LP , with an initial closing of US $ 148 million . ■ Power Sustainable Capital Inc. ( Power Sustainable ) launched the Power Sustainable Energy Infrastructure Partnership , a $ 1 billion investment platform dedicated to the North American renewable energy sector , in January 2021 . ■ Lion began trading on the Toronto Stock Exchange ( TSX : LEV ) and the New York Stock Exchange ( NYSE : LEV ) on May 7 , 2021. Lion's market capitalization on May 12 , 2021 was US $ 2.8 billion , which values the Corporation's investment at $ 1.2 billion . [ 1 ] NAV , NAV per share and adjusted net earnings per share are non - IFRS financial measures . See the Non - IFRS Financial Measures and Presentation section later in this news release . POWER CORPORATION REPORTS FIRST QUARTER 2021 FINANCIAL RESULTS 1