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News Release For immediate release Power Corporation Reports Third Quarter 2021 Financial Results 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 . Power Corporation Consolidated results for the period ended September 30 , 2021 Pe Montréal , Québec , November 10 , 2021 - Power Corporation of Canada ( Power Corporation or the Corporation ) ( TSX : POW ) today reported earnings results for the three and nine months ended September 30 , 2021 . HIGHLIGHTS POWER CORPORATION OF CANADA Power Corporation ▪ Net earnings per share of $ 1.09 for the third quarter of 2021 , compared with $ 0.75 in 2020 and adjusted net earnings per share [ ¹ ] of $ 1.10 , compared with $ 0.72 per share in 2020 . ▪ Net asset value ( NAV ) per share [ ¹ ] increased 2 % to $ 52.81 at September 30 , 2021 , compared with $ 51.60 at June 30 , 2021 . Completed the sale of its 37.1 % interest in the Sagard Europe 3 Fund ( Sagard Europe 3 ) in a secondary transaction in the third quarter . The Corporation received proceeds of $ 334 million ( € 225 million ) and realized a gain of $ 66 million in net earnings . ▪ The Corporation intends to resume normal course share buybacks under its normal course issuer bid . Power Financial Corporation ( Power Financial ) ▪ Completed an offering of 8,000,000 4.50 % Non - Cumulative First Preferred Shares , Series 23 for gross proceeds of $ 200 million on October 15 , and on October 18 announced its intention to redeem all of its outstanding $ 200 million 6.00 % Non - Cumulative First Preferred Shares , Series I. Great - West Lifeco Inc. ( Lifeco ) ▪ Assets under administration were approximately $ 2.2 trillion at September 30 , 2021 , an increase of 11 % from December 31 , 2020 . ▪ Lifeco and Sagard Holdings Inc. ( Sagard ) announced , on October 7 , 2021 , they had agreed to enter into a long - term strategic relationship , which includes the sale of Lifeco's United States - based subsidiaries EverWest Real Estate Investors , LLC and EverWest Advisors , LLC ( EverWest ) to Sagard , in exchange for a minority shareholding in Sagard's subsidiary , Sagard Holdings Management Inc. The strategic relationship with Sagard is intended to advance Lifeco's strategy to further broaden its access to alternative investment options . ▪ On August 16 , 2021 , Lifeco issued $ 1.5 billion aggregate principal amount 3.60 % Limited Recourse Capital Notes Series 1 ( Subordinated Indebtedness ) , maturing on December 31 , 2081 and on October 8 , 2021 , issued 8,000,000 Series Y , 4.50 % Non- Cumulative First Preferred Shares for gross proceeds of $ 200 million . On November 3 , 2021 , Lifeco announced that it intends to redeem all of its outstanding 5.90 % Non - Cumulative First Preferred Shares , Series F on December 31 , 2021 . IGM Financial Inc. ( IGM ) Record high net earnings of $ 270.8 million , or $ 1.13 per share , up 42 % from the third quarter of 2020 and up 14 % from the second quarter of 2021 . ▪ Record high quarter - end assets under management and advisement of $ 265.2 billion , up 1 % in the quarter and 35 % from September 30 , 2020 ( including $ 30.3 billion in net business acquisitions in 2020 ) . Groupe Bruxelles Lambert ( GBL ) ▪ GBL announced measures to enhance shareholder returns including an additional share buyback of up to € 500 million . POWER CORPORATION REPORTS THIRD QUARTER 2021 FINANCIAL RESULTS [ 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 . 1