{"id":379127,"date":"2020-11-11T17:48:15","date_gmt":"2020-11-11T22:48:15","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=379127"},"modified":"2020-11-11T17:48:15","modified_gmt":"2020-11-11T22:48:15","slug":"power-corporation-reports-third-quarter-2020-financial-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/power-corporation-reports-third-quarter-2020-financial-results\/","title":{"rendered":"Power Corporation Reports Third Quarter 2020 Financial Results"},"content":{"rendered":"<div class=\"xn-newslines\">\n<p class=\"xn-distributor\">Canada NewsWire<\/p>\n<\/p><\/div>\n<div class=\"xn-content\">\n<p \/>\n<div class=\"prntal\">\n<table id=\"convertedTableefb3\" cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prnbcc\">\n<tr>\n<td class=\"prnsbtb0 prnrbrb0 prnvat prnsbbs prntal prnpl6 prnsblb0 prnpr6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Readers are referred to the sections &#8220;Non-IFRS Financial Measures and Presentation&#8221; and &#8220;Forward-Looking Statements&#8221; at\u00a0the end of this release. <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p \/>\n<p>MONTR\u00c9AL, <span class=\"xn-chron\">Nov. 11, 2020<\/span> \/CNW Telbec\/ &#8211;\u00a0Power Corporation of <span class=\"xn-location\">Canada<\/span> (Power Corporation or the Corporation) (TSX:\u00a0POW) today reported earnings results for the three and nine months ended <span class=\"xn-chron\">September 30, 2020<\/span>.<\/p>\n<p>\n        <b>Power Corporation<br \/>Consolidated results for the period ended <span class=\"xn-chron\">September 30<\/span><\/b>\n      <\/p>\n<p>Highlights <\/p>\n<ul type=\"disc\">\n<li>The Corporation&#8217;s net asset value per share (a non-IFRS financial measure, see Non-IFRS Financial Measures and Presentation later in this news release) was <span class=\"xn-money\">$34.94<\/span> at <span class=\"xn-chron\">September 30, 2020<\/span>, compared with <span class=\"xn-money\">$32.96<\/span> at <span class=\"xn-chron\">June 30, 2020<\/span>, representing an increase of 6.0%.\n<\/li>\n<li>\n          <span class=\"xn-chron\">August 17, 2020<\/span>: Great-West Lifeco Inc. (Lifeco)&#8217;s subsidiary Empower Retirement completed the acquisition of Personal Capital Corporation (Personal Capital), a hybrid wealth manager that combines a leading-edge digital experience with personalized advice delivered by human advisors. <\/p>\n<\/li>\n<li>\n          <span class=\"xn-chron\">September 8, 2020<\/span>: Empower Retirement announced that it entered into an agreement to purchase the retirement services business of Massachusetts Mutual Life Insurance Company (MassMutual), strengthening Empower Retirement&#8217;s position as the second-largest player in the U.S. retirement market. <\/p>\n<\/li>\n<li>\n          <span class=\"xn-chron\">September 17, 2020<\/span>: Mackenzie Financial Corporation (Mackenzie) and Lifeco announced a strategic relationship with Northleaf Capital Partners Ltd. (Northleaf) to expand and enhance their private markets capabilities. The transaction was completed on <span class=\"xn-chron\">October 29, 2020<\/span>. <\/p>\n<\/li>\n<li>\n          <span class=\"xn-chron\">October 14, 2020<\/span>: Wealthsimple Financial Corp. (Wealthsimple) announced the closing of a <span class=\"xn-money\">$114 million<\/span> investment on a pre-money valuation of <span class=\"xn-money\">$1.4 billion<\/span>. <\/p>\n<\/li>\n<li>\n          <span class=\"xn-chron\">October 23, 2020<\/span>: Sagard Holdings Inc. (Sagard Holdings) completed the first closing of Sagard Credit Partners II, LP, its second credit fund. Sagard Credit Partners will continue fundraising activities through 2021. <\/p>\n<\/li>\n<li>IGM Financial Inc. (IGM) assets under management and advisement were a record high of <span class=\"xn-money\">$196.4 billion<\/span>, up 4.3% from <span class=\"xn-chron\">June 30, 2020<\/span> and 6.1% from <span class=\"xn-chron\">September 30, 2019<\/span>. Investment fund net sales were <span class=\"xn-money\">$610 million<\/span>, compared with net sales of <span class=\"xn-money\">$103 million<\/span> in the third quarter of 2019.\n<\/li>\n<li>IGM reported net earnings of <span class=\"xn-money\">$191 million<\/span> or <span class=\"xn-money\">$0.80<\/span> per share, compared with <span class=\"xn-money\">$202 million<\/span> or <span class=\"xn-money\">$0.85<\/span> per share in the third quarter of 2019. Adjusted net earnings, excluding adjustments, were <span class=\"xn-money\">$214 million<\/span> or <span class=\"xn-money\">$0.90<\/span> per share, compared with <span class=\"xn-money\">$202 million<\/span> or <span class=\"xn-money\">$0.85<\/span> per share in the third quarter of 2019. This is the second highest adjusted earnings per share in IGM&#8217;s history.<\/li>\n<\/ul>\n<p>Third Quarter <br \/>Net earnings attributable to participating shareholders were <span class=\"xn-money\">$505 million<\/span> or <span class=\"xn-money\">$0.75<\/span> per share, compared with <span class=\"xn-money\">$359 million<\/span> or <span class=\"xn-money\">$0.84<\/span> per share in 2019. <\/p>\n<p>Adjusted net earnings attributable to participating shareholders<sup>\u00a0<\/sup>(a non-IFRS financial measure, see Non-IFRS Financial Measures and Presentation later in this news release)\u00a0were <span class=\"xn-money\">$438 million<\/span> or <span class=\"xn-money\">$0.65<\/span> per share, compared with <span class=\"xn-money\">$308 million<\/span> or <span class=\"xn-money\">$0.72<\/span> per share in 2019. <\/p>\n<p>Contributions to Power Corporation&#8217;s earnings per share:<\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prngen2\">\n<tr>\n<td class=\"prnsbtb0 prnrbrb0 prnvab prnsbb1 prntar prnpl6 prnsblb0 prnpr8\">\n              \n            <\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen7\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2020 <\/b><br \/>\n                  <b><br \/>\n                    <sup>[1]<\/sup><br \/>\n                  <\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2019<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prnsbtb0 prnrbrb0 prnvam prnsbb1 prnpl6 prnsblb0 prnpr6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <sup>(in dollars per Power Corporation share)<\/sup><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Net Earnings<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Adjusted Net <br \/>Earnings<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen10\">\n              \n            <\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Net Earnings<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Adjusted Net <br \/>Earnings<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Lifeco <sup>\u00a0<\/sup>\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>0.82<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>0.67<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.73<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.67<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">IGM <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>0.18<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>0.20<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.19<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.19<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Pargesa\/GBL<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(0.02)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(0.02)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.05<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.06<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Alternative investment platforms <sup>[2] <\/sup><\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>0.03<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>0.03<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(0.01)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(0.01)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">China AMC <sup>[3]<\/sup><\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>0.02<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>0.02<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.02<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.02<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>1.03<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>0.90<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.98<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.93<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Corporate operations and Other <sup>[4]<\/sup><\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(0.28)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(0.25)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(0.14)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(0.21)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>0.75<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>0.65<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.84<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.72<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Average shares outstanding<\/span><br \/>\n                <span class=\"prnews_span\"><br \/>\n                  <sup>\u00a0<\/sup>(in millions)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>676.3<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">425.6<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\n        <b>Lifeco<\/b>: contribution to net earnings per share increased by 12%, contribution to adjusted net earnings per share was the same.<br \/><b>IGM<\/b>: contribution to net earnings per share decreased by 5%, contribution to adjusted net earnings per share increased by 5%.<br \/><b>Pargesa\/GBL<\/b>\u00a0(Pargesa Holding SA): results reflect the impact of COVID-19 on its portfolio as well as a charge of <span class=\"xn-money\">$0.06<\/span> per share in the quarter for losses due to an increase in the put right liability of the non-controlling interests in Webhelp, representing a charge of <span class=\"xn-money\">$0.06<\/span>.<br \/><b>Corporate and Other:<\/b>\u00a0the third quarter includes a charge of <span class=\"xn-money\">$0.10<\/span> per share for the remeasurement of the put right liability of the non-controlling interests in Wealthsimple and carried interests payable, both due to the increase in the fair value of Wealthsimple.<\/p>\n<p>As part of the Reorganization completed in <span class=\"xn-chron\">February 2020<\/span>, the Corporation anticipates significant near-term cost reductions of approximately <span class=\"xn-money\">$50 million<\/span> per year within two years by eliminating duplicative public company-related expenses and rationalizing other general and administrative expenses. To date, the Corporation has implemented actions to achieve 47% of the targeted reduction.<\/p>\n<p>Adjustments\u00a0in the third quarter of 2020, excluded from adjusted net earnings, were a net positive impact to earnings of <span class=\"xn-money\">$67 million<\/span> or <span class=\"xn-money\">$0.10<\/span> per share, mainly related to the Corporation&#8217;s share of Lifeco&#8217;s and IGM&#8217;s adjustments. Adjustments in the third quarter of 2019 were a net positive impact to earnings of <span class=\"xn-money\">$51 million<\/span> or <span class=\"xn-money\">$0.12<\/span> per share, mainly related to the Corporation&#8217;s share of Lifeco&#8217;s and Pargesa&#8217;s adjustments and a favourable change to the Corporation&#8217;s income tax provision.<\/p>\n<div class=\"prntal\">\n<table id=\"convertedTable3010\" cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">[1]<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">The Corporation completed a reorganization transaction on February 13, 2020 in which it acquired the minority interests of Power Financial (the Reorganization) and now holds 100% of the common shares in the capital of Power Financial. <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">[2]<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Alternative investment platforms includes earnings (losses) from investment platforms including controlled and consolidated subsidiaries and other investments. <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">[3]<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">China Asset Management Co., Ltd.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">[4]<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Includes operating and other expenses, dividends on non-participating shares of the Corporation and its share of Power Financial&#8217;s corporate operations and consolidation entries; refer to the Earnings Summary below. <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>Nine Months<br \/>Net earnings attributable to participating shareholders were <span class=\"xn-money\">$1,371 million<\/span> or <span class=\"xn-money\">$2.15<\/span> per share, compared with <span class=\"xn-money\">$929 million<\/span> or <span class=\"xn-money\">$2.11<\/span> per share in 2019. <\/p>\n<p>Adjusted net earnings attributable to participating shareholders<sup>\u00a0<\/sup>were <span class=\"xn-money\">$1,316 million<\/span> or <span class=\"xn-money\">$2.06<\/span> per share, compared with <span class=\"xn-money\">$918 million<\/span> or <span class=\"xn-money\">$2.09<\/span> per share in 2019.<\/p>\n<p>Contributions to Power Corporation&#8217;s earnings per share:<\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prngen2\">\n<tr>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen7\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2020 <\/b><br \/>\n                  <b><br \/>\n                    <sup>[1]<\/sup><br \/>\n                  <\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2019<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prnsbtb0 prnrbrb0 prnvam prnsbtb0 prnpl6 prnsblb0 prnpr6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <sup>(in dollars per Power Corporation share)<\/sup><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Net Earnings<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Adjusted Net <br \/>Earnings<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen10\">\n              \n            <\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Net Earnings<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Adjusted Net <br \/>Earnings<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Lifeco <sup>[2]<\/sup><\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2.02<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>1.91<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1.81<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1.84<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">IGM<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>0.50<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>0.52<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.50<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.51<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Pargesa\/GBL <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>0.10<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>0.11<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.17<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.19<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Alternative investment platforms <sup>[3]<\/sup><\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>0.12<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>0.08<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.05<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.05<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">China AMC <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>0.04<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>0.04<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.05<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.05<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2.78<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2.66<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2.58<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2.64<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Corporate operations and Other <sup>[4]<\/sup><\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(0.63)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(0.60)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(0.47)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(0.55)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2.15<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2.06<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2.11<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2.09<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Average shares outstanding <\/span><br \/>\n                <span class=\"prnews_span\">(in millions)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>637.7<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">441.3<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>Adjustments\u00a0in the nine-month period of 2020, excluded from adjusted net earnings, were a net positive impact to earnings of <span class=\"xn-money\">$55 million<\/span> or <span class=\"xn-money\">$0.09<\/span> per share, mainly related to the Corporation&#8217;s share of Lifeco&#8217;s adjustments and a recovery on the deconsolidation of IntegraMed America, Inc. (IntegraMed), offset by the Corporation&#8217;s share of IGM&#8217;s adjustments. Adjustments in the nine-month period of 2019 were a net positive impact to earnings of $11\u00a0million or <span class=\"xn-money\">$0.02<\/span> per share, mainly related to a favourable change to the Corporation&#8217;s income tax provision estimates of $31\u00a0million, offset by the Corporation&#8217;s share of Lifeco&#8217;s and Pargesa&#8217;s adjustments. <\/p>\n<div class=\"prntal\">\n<table id=\"convertedTable4413\" cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">[1]<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">The Corporation completed the Reorganization on February 13, 2020 and now holds 100% of the common shares in the capital of Power Financial. In the second quarter of 2019, the Corporation completed a substantial issuer bid and repurchased 9.8% of its Subordinate Voting Shares. <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">[2]<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Power Financial participated in Lifeco&#8217;s substantial issuer bid in the second quarter of 2019; the number of shares held by Power Financial decreased by 7.4%.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">[3]<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Alternative investment platforms includes earnings (losses) from investment platforms including controlled and consolidated subsidiaries and other investments.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">[4]<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Includes operating and other expenses, dividends on non-participating shares of the Corporation and its share of Power Financial&#8217;s corporate operations and consolidation entries; refer to the Earnings Summary below. <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\n        <b>Great-West Lifeco, IGM Financial and Pargesa<\/b><br \/>\n        <br \/>\n        <b>Results for the third quarter ended <span class=\"xn-chron\">September 30<\/span><\/b>\n      <\/p>\n<p>The information below is derived from Lifeco and IGM&#8217;s interim MD&amp;As, as prepared and disclosed by the respective companies in accordance with applicable securities legislation, and which are also available either directly from SEDAR (<a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=2978158-1&amp;h=1110620242&amp;u=http%3A%2F%2Fwww.sedar.com%2F&amp;a=www.sedar.com\" rel=\"nofollow noopener noreferrer\">www.sedar.com<\/a>) or from their websites, <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=2978158-1&amp;h=994524190&amp;u=http%3A%2F%2Fwww.greatwestlifeco.com%2F&amp;a=www.greatwestlifeco.com\" rel=\"nofollow noopener noreferrer\">www.greatwestlifeco.com<\/a>\u00a0and <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=2978158-1&amp;h=3156043880&amp;u=http%3A%2F%2Fwww.igmfinancial.com%2Fen&amp;a=www.igmfinancial.com\" rel=\"nofollow noopener noreferrer\">www.igmfinancial.com<\/a>. The information below related to Pargesa is derived from publicly disclosed information, as issued by Pargesa in its third quarter press release. Further information on Pargesa&#8217;s results is available on its website at <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=2978158-1&amp;h=476262441&amp;u=http%3A%2F%2Fwww.pargesa.ch%2Fen&amp;a=www.pargesa.ch\" rel=\"nofollow noopener noreferrer\">www.pargesa.ch<\/a>. <\/p>\n<p>GREAT-WEST LIFECO INC.<\/p>\n<p>Net earnings attributable to common shareholders were $826\u00a0million or <span class=\"xn-money\">$0.891<\/span> per share, compared with $730\u00a0million or <span class=\"xn-money\">$0.786<\/span> per share in 2019. <\/p>\n<p>Adjusted net earnings\u00a0<sup>[<\/sup><sup>1<\/sup><sup>]<\/sup>\u00a0attributable to common shareholders were $679\u00a0million or <span class=\"xn-money\">$0.732<\/span> per share, compared with $677\u00a0million or <span class=\"xn-money\">$0.729<\/span> per share in 2019. <\/p>\n<p>Adjustments in the third quarter of 2020, excluded from adjusted net earnings, were a net positive impact to earnings of <span class=\"xn-money\">$147 million<\/span>, compared with a net positive impact to earnings of <span class=\"xn-money\">$53 million<\/span> in 2019. Lifeco&#8217;s adjustments in 2020 consisted of a net positive impact of actuarial assumption changes and other management actions, market-related impacts on liabilities and a net gain on the sale of Irish Progressive Services International Limited, offset by transaction costs related to the acquisitions of Personal Capital and MassMutual.<\/p>\n<div class=\"prntal\">\n<table id=\"convertedTablefe16\" cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0[1] <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Described as &#8220;base earnings&#8221; by Lifeco. For additional information, please refer to the Non-IFRS Financial Measures and Presentation section later in this news releAse.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>IGM FINANCIAL INC.\u00a0<\/p>\n<p>Net earnings available to common shareholders were $191\u00a0million or <span class=\"xn-money\">$0.80<\/span> per\u00a0share, compared with $202\u00a0million or <span class=\"xn-money\">$0.85<\/span> per share in 2019.\u00a0<\/p>\n<p>Adjusted net earnings available to common shareholders were $214\u00a0million or <span class=\"xn-money\">$0.90<\/span> per\u00a0share, compared with $202\u00a0million or <span class=\"xn-money\">$0.85<\/span> per share in 2019. <\/p>\n<p>Adjustments in the third quarter of 2020, excluded from adjusted net earnings, were a net negative impact to earnings of <span class=\"xn-money\">$23 million<\/span> consisting of restructuring and other charges, offset by a gain on the sale of IGM&#8217;s investment in Personal Capital. <\/p>\n<p>Assets under management and advisement at <span class=\"xn-chron\">September 30, 2020<\/span> were <span class=\"xn-money\">$196.4 billion<\/span>, an increase of 4.3% from <span class=\"xn-chron\">June 30, 2020<\/span>.<\/p>\n<p>PARGESA HOLDING SA<\/p>\n<p>Pargesa reported a net loss of SF23 million, compared with net earnings of SF91 million in 2019. <\/p>\n<p>Adjusted net earnings were a net loss of SF21 million, compared with adjusted net earnings of SF107 million in 2019. Adjustments, not included in adjusted net earnings, were a charge of SF2 million in the third quarter, compared with a charge of SF16 million in 2019, mainly consisting of other charges at Pargesa related to Parques Reunidos Servicios Centrales, S.A. (Parques), an equity investment.<\/p>\n<p>Pargesa reported a net asset value at <span class=\"xn-chron\">September 30, 2020<\/span> of SF8,375 million, representing SF98.8 per share, compared with SF8,393 million or SF99.0 per share at <span class=\"xn-chron\">June 30<\/span>, 2020.\u00a0 <\/p>\n<p>Pargesa adopted IFRS 9 in 2018. Power Corporation continues to apply IAS 39; this results in a negative adjustment to the contribution from Pargesa of $28\u00a0million in the third quarter of 2020.\u00a0 <\/p>\n<p>Parjointco N.V. (Parjointco) and Pargesa announced on <span class=\"xn-chron\">March 11, 2020<\/span> a public exchange offer for all Pargesa shares not held by Parjointco to be exchanged for Groupe Bruxelles Lambert (GBL) shares. Following the successful public exchange offer, Power Financial holds an interest of 48.7% in Pargesa. Pargesa in turn holds a 29.5% in GBL. The transaction is expected to be completed in the fourth quarter of 2020.\u2003<\/p>\n<p>\n        <b>Alternative and Other Investments<br \/>For the period ended <span class=\"xn-chron\">September 30<\/span><\/b>\n      <\/p>\n<p>Alternative and other investments are comprised of the results of the Corporation&#8217;s investment platforms, Sagard Holdings and Power Sustainable Capital Inc. (Power Sustainable Capital), which includes income earned from asset management activities and investing activities. Asset management activities includes management fees and carried interests, net of investment platform expenses. Investing activities comprises income earned on the capital invested by the Corporation (proprietary capital) in each platform and the share of earnings (losses) of controlled and consolidated subsidiaries held within the investment platforms. Other includes the share of earnings (losses) of standalone businesses and the Corporation&#8217;s investments in investment and hedge funds. For additional information, refer to the table later in this news release. <\/p>\n<p>Third Quarter <br \/>Income from the Corporation&#8217;s alternative and other investments was <span class=\"xn-money\">$20 million<\/span>, compared with a loss of $5\u00a0million in 2019. <\/p>\n<p>\n        <b>COVID-19<\/b>\n      <\/p>\n<p>The outbreak of the novel strain of coronavirus, specifically identified as &#8220;COVID-19&#8221;, has resulted in governments worldwide enacting emergency measures to combat the spread of the virus. These measures, which include the implementation of travel bans, self-imposed quarantine periods and social distancing, have caused material disruption to businesses globally resulting in an economic slowdown. Governments and central banks have responded with significant monetary and fiscal interventions designed to stabilize economic conditions. Equity markets in particular have been volatile, experiencing material and rapid declines in the first quarter of 2020. \u00a0However, following <span class=\"xn-chron\">March 31, 2020<\/span>, the markets have experienced recoveries.<\/p>\n<p>The Corporation is managing the risks associated with the COVID-19 pandemic utilizing its existing risk management framework. At Power Corporation and its group companies, the focus has continued to be on managing the safety and well-being of its people, maintaining operational effectiveness, ensuring that the group can serve its customers, assessing impacts on earnings, liquidity and capital, planning for different potential scenarios and engaging with stakeholders. The respective boards of directors of Power Financial, Lifeco, IGM, Pargesa and GBL are responsible for the governance structures and processes to oversee the management of the risk and potential impacts presented by the current economic slowdown and other potential consequences due to COVID-19.<\/p>\n<p>The duration and impact of the COVID-19 pandemic is unknown at this time. Economic damage and market weakness are being felt across the global economy. Significant economic headwinds are expected to continue into the fourth quarter of 2020 and beyond as a result of anticipated negative credit experiences, impairment of valuations in certain sectors of the economy and asset classes, and uncertainties in the durability and effectiveness of government and central bank interventions, among others. It is not possible to reliably estimate the length and severity of these developments and the impact on the financial results and condition of the Corporation and its operating subsidiaries in future periods.\u00a0<\/p>\n<p>\n        <b>Dividend on Power Corporation Participating Shares<\/b>\n      <\/p>\n<p>The Board of Directors declared a quarterly dividend of 44.75\u00a0cents per share on the Participating Preferred Shares and the Subordinate Voting Shares of the Corporation, payable <span class=\"xn-chron\">February 1, 2021<\/span> to\u00a0shareholders of record <span class=\"xn-chron\">December 31, 2020<\/span>.<\/p>\n<p>\n        <b>Dividends on Power Corporation Non-Participating Preferred Shares<\/b>\n      <\/p>\n<p>The Board of Directors also declared quarterly dividends on the Corporation&#8217;s preferred shares, payable January\u00a015, 2021 to shareholders of record <span class=\"xn-chron\">December 24, 2020<\/span>:<\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prngen2\">\n<tr>\n<td colspan=\"6\" class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Series<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Stock Symbol<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Amount<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Series <\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Stock Symbol<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Amount<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1986 Series<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">POW.PR.F<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Floating rate <sup>[1]<\/sup><\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Series C<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">POW.PR.C<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">36.25\u00a2<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Series A <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">POW.PR.A<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">35\u00a2<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Series D<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">POW.PR.D<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">31.25\u00a2<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Series B<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">POW.PR.B<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">33.4375\u00a2<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Series G<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">POW.PR.G<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">35\u00a2<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<div class=\"prntal\">\n<table id=\"convertedTablecce4\" cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">[1]<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Equal to one quarter of 70% of the average prime rate of two major Canadian chartered banks for the period September 1 to November 30, 2020.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p><\/p>\n<p>\n        <b>About Power Corporation<\/b>\n      <\/p>\n<p>Power Corporation is an international management and holding company that focuses on financial services in <span class=\"xn-location\">North America<\/span>, <span class=\"xn-location\">Europe<\/span> and <span class=\"xn-location\">Asia<\/span>. Its core holdings are leading insurance, retirement, wealth management and investment businesses, including a portfolio of alternative asset investment platforms. To learn more, visit <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=2978158-1&amp;h=1513216306&amp;u=http%3A%2F%2Fwww.powercorporation.com%2Fen%2F&amp;a=www.PowerCorporation.com\" rel=\"nofollow noopener noreferrer\">www.PowerCorporation.com<\/a>. <\/p>\n<p>At <span class=\"xn-chron\">September 30, 2020<\/span>, Power Corporation held the following economic interests:<\/p>\n<ul type=\"disc\">\n<li>100% \u2013 Power Financial <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=2978158-1&amp;h=3029443356&amp;u=https%3A%2F%2Fwww.powerfinancial.com%2Fen%2F&amp;a=www.powerfinancial.com\" rel=\"nofollow noopener noreferrer\">www.powerfinancial.com<\/a>\u00a0 <\/li>\n<ul type=\"circle\">\n<li>66.9% \u2013 Great-West Lifeco (TSX: GWO) <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=2978158-1&amp;h=994524190&amp;u=http%3A%2F%2Fwww.greatwestlifeco.com%2F&amp;a=www.greatwestlifeco.com\" rel=\"nofollow noopener noreferrer\">www.greatwestlifeco.com<\/a><\/li>\n<li>62.1% \u2013 IGM Financial (TSX: IGM) <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=2978158-1&amp;h=472149668&amp;u=http%3A%2F%2Fwww.igmfinancial.com%2F&amp;a=www.igmfinancial.com\" rel=\"nofollow noopener noreferrer\">www.igmfinancial.com<\/a><\/li>\n<li>48.7% \u2013 Pargesa (SIX: PARG) <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=2978158-1&amp;h=3781943315&amp;u=https%3A%2F%2Fwww.pargesa.ch%2Fen%2F&amp;a=www.pargesa.ch\" rel=\"nofollow noopener noreferrer\">www.pargesa.ch<\/a>\u00a0\u00a0\u00a0 <\/li>\n<li>83.4% \u2013 Wealthsimple <sup>[1] <\/sup><a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=2978158-1&amp;h=896950680&amp;u=http%3A%2F%2Fwww.wealthsimple.com%2F&amp;a=www.wealthsimple.com\" rel=\"nofollow noopener noreferrer\">www.wealthsimple.com<\/a>\u00a0<\/li>\n<\/ul>\n<li>Investment Platforms <\/li>\n<ul type=\"circle\">\n<li>100% \u2013\u00a0Sagard Holdings <sup>[2] <\/sup><a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=2978158-1&amp;h=4133897571&amp;u=http%3A%2F%2Fwww.sagardholdings.com%2F&amp;a=www.sagardholdings.com\" rel=\"nofollow noopener noreferrer\">www.sagardholdings.com<\/a><\/li>\n<li>100% \u2013\u00a0Power Sustainable Capital\u00a0<a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=2978158-1&amp;h=3604129245&amp;u=http%3A%2F%2Fwww.powersustainable.com%2F&amp;a=www.powersustainable.com\" rel=\"nofollow noopener noreferrer\">www.powersustainable.com<\/a><\/li>\n<ul type=\"square\">\n<li>Power Pacific Investment Management\u00a0<a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=2978158-1&amp;h=2660025642&amp;u=http%3A%2F%2Fwww.powerpacificim.com%2F&amp;a=www.powerpacificim.com\" rel=\"nofollow noopener noreferrer\">www.powerpacificim.com<\/a><\/li>\n<li>Power Energy Corporation <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=2978158-1&amp;h=1557058701&amp;u=http%3A%2F%2Fwww.powerenergycorporation.com%2Fen%2F&amp;a=www.powerenergycorporation.com\" rel=\"nofollow noopener noreferrer\">www.powerenergycorporation.com<\/a><\/li>\n<\/ul>\n<\/ul>\n<li>27.8% \u2013 China AMC\u00a0<sup>[3] <\/sup><a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=2978158-1&amp;h=2532706278&amp;u=http%3A%2F%2Ffund.chinaamc.com%2Fenglish%2Fhome%2Findex.shtml&amp;a=www.chinaamc.com\" rel=\"nofollow noopener noreferrer\">www.chinaamc.com<\/a><\/li>\n<\/ul>\n<p>\u00a0<\/p>\n<div class=\"prntal\">\n<table id=\"convertedTableec12\" cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">[1]<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Undiluted equity interest held by Lifeco, IGM and Power Financial (the Group), representing a fully diluted equity interest of 70.1%. On October 14, 2020, Wealthsimple announced the closing of a $114 million investment on a pre-money valuation of $1.4 billion. The investment was led by TCV, one of the largest growth equity investors focused on technology, along with Greylock Partners, Meritech Capital, Allianz X and Two Sigma Ventures. With the closing of the investment, the Group now has an ownership interest in Wealthsimple of 61.7% on a fully diluted basis.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">[2]<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Includes the Corporation&#8217;s interest in European private equity funds (formerly Sagard Europe). Refer to the Corporation&#8217;s most recent MD&amp;A for interest in the funds managed by Sagard Holdings.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">[3]<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">IGM and the Corporation each hold a 13.9% interest in China AMC.<br \/><\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\n        <b>Earnings Summary<\/b>\n      <\/p>\n<p>\n        <b>Earnings <\/b>\n      <\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prngen2\">\n<tr>\n<td colspan=\"6\" class=\"prngen17\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(unaudited)<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Three months ended<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Nine months ended\u00a0<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(in millions of Canadian dollars)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">September 30,<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">September 30,<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2019<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2019<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Adjusted net earnings<\/b>\u00a0<sup><b>[1]<\/b>\u00a0<\/sup><\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Power Financial <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">Lifeco <sup>[2]<\/sup><\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>454<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">452<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>1,289<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,258<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">IGM <sup>[2]<\/sup><\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>133<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">126<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>347<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">348<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">Pargesa <sup>[2]<\/sup><\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(15)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">40<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>73<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">130<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">Corporate operations of Power Financial <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Income (loss) from investments <sup>[3]<\/sup><\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(34)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(38)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(2)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Operating and other expenses<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(15)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(24)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(64)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(74)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Dividends on perpetual preferred shares<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(34)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(35)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(103)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(104)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">Consolidation entries <sup>[4]<\/sup><\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(54)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(8)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(33)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">36<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>435<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">553<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>1,471<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,592<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Attributable to non-controlling interests of Power\u00a0Financial <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>\u2212<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">200<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>116<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">566<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Corporation&#8217;s share of Power Financial<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>435<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">353<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>1,355<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,026<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Alternative and other investments <sup>[5]<\/sup><\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>20<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(5)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>50<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">19<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">China AMC<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>11<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">8<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>30<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">23<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Corporate operations<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(15)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(35)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(80)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(111)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Dividends on non-participating shares<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(13)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(13)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(39)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(39)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Adjusted net earnings<\/b>\u00a0<b><sup>[6]<\/sup><\/b>\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>438<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">308<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>1,316<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">918<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Adjustments \u2013 see below<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>67<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">51<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>55<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">11<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Net earnings<\/b>\u00a0<b><sup>[6]<\/sup><\/b>\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>505<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">359<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>1,371<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">929<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<div class=\"prntal\">\n<table id=\"convertedTablef728\" cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">[1]<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Effective the first quarter of 2020, the Corporation introduced a modified definition of its Non-IFRS earnings measures, Adjusted net earnings. The comparative figures have been restated. For additional information, please refer to the Non-IFRS Financial Measures and Presentation section later in this news release.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">[2]<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">As reported by Lifeco, IGM and Pargesa. <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">[3]<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">The third quarter of 2020 includes Power Financial&#8217;s share in the amount of $33 million related to the impact of the remeasurement of the put right liability of the non-controlling interests in Wealthsimple to fair value and an increase in carried interests payable.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">[4] <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">The consolidation entries include an allocation of the results of Wealthsimple, KOHO Financial Inc. (Koho), Portag3 Ventures Limited Partnership (Portag3 I), Portag3 Ventures II Limited Partnership (Portag3 II), to the contributions from Lifeco and IGM based on their respective interest. The third quarter of 2020 includes a charge of $36 million related to the allocation of the remeasurement of the put right liability of the non-controlling interests in Wealthsimple to fair value and carried interests payable. This charge was offset by IGM&#8217;s gain on Personal Capital which the Corporation has not included as an Adjustment. The consolidation entries also reflect adjustments in accordance with IAS 39 for IGM and Pargesa.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">[5] <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Includes earnings of the Corporation&#8217;s investment platforms and earnings (losses) from Power Energy Corporation and standalone businesses, which include IntegraMed (up to the date of deconsolidation on May 20, 2020).<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">[6]<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Attributable to participating shareholders.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p><\/p>\n<p>\n        <b>Earnings per Share<\/b>\n      <\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prngen2\">\n<tr>\n<td colspan=\"7\" class=\"prngen6\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(unaudited)<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Three months ended<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td colspan=\"3\" class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Nine months ended<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(in dollars per share)<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">September 30,<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td colspan=\"3\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">September 30,<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2019<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2019<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Adjusted net earnings per share <\/b><br \/>\n                  <b>\u2013<\/b><br \/>\n                  <b>\u00a0basic <\/b><br \/>\n                  <b><br \/>\n                    <sup>[1]<\/sup>\u00a0<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Power Financial <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">Lifeco <sup>[2]<\/sup><\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>0.67<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.67<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>1.91<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1.84<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">IGM <sup>[2]<\/sup><\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>0.20<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.19<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>0.52<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.51<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">Pargesa <sup>[2]<\/sup><\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(0.02)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.06<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>0.11<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.19<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">Corporate operations of Power Financial <sup>[3]<\/sup><\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(0.12)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(0.08)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(0.31)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(0.26)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">Consolidation entries<sup> [4]<\/sup><\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(0.09)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(0.02)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(0.10)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.05<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>0.64<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.82<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2.13<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2.33<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Alternative and other investments <sup>[5]<\/sup><\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>0.03<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(0.01)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>0.08<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.05<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">China AMC<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>0.02<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.02<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>0.04<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.05<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prnsbtb0 prnrbrb0 prnvab prnsbb1 prnpl6 prnsblb0 prnpr6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Corporate operations and dividends <\/span>\n              <\/p>\n<\/td>\n<td rowspan=\"2\" nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(0.04)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td rowspan=\"2\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(0.11)<\/span>\n              <\/p>\n<\/td>\n<td rowspan=\"2\" class=\"prngen6\">\n              \n            <\/td>\n<td rowspan=\"2\" colspan=\"2\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(0.19)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td rowspan=\"2\" nowrap=\"nowrap\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(0.34)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">on non-participating\u00a0shares\u00a0<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Adjusted net earnings per share<\/b>\u00a0<b><sup>[6]<\/sup><\/b>\u00a0\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>0.65<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.72<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2.06<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2.09<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Adjustments \u2013 see below<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>0.10<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.12<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>0.09<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.02<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Net earnings per share<\/b>\u00a0<b><sup>[6]<\/sup><\/b><\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>0.75<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.84<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2.15<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2.11<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<div class=\"prntal\">\n<table id=\"convertedTablec823\" cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">[1]<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Effective the first quarter of 2020, the Corporation introduced a modified definition of its Non-IFRS earnings measures, Adjusted net earnings. The comparative figures have been restated. For additional information, please refer to the Non-IFRS Financial Measures and Presentation section later in this news release.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">[2]<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">As reported by Lifeco, IGM and Pargesa. <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">[3]<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">The third quarter of 2020\u00a0includes Power Financial&#8217;s share in the amount of $33\u00a0million or $0.05\u00a0per share related to the impact of the remeasurement of the put right liability of the non-controlling interests in Wealthsimple to fair value and an increase in carried interests payable.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">[4]<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">The consolidation entries include an allocation of the results of Wealthsimple, Koho, Portag3 I and Portag3 II, to the contributions from Lifeco and IGM based on their respective interest. The third quarter of 2020 includes a charge of $36 million or $0.05 per share related to the allocation of the remeasurement of the put right liability of the non-controlling interests in Wealthsimple to fair value and carried interests payable. This charge was offset by IGM&#8217;s gain on Personal Capital which the Corporation has not included as an Adjustment. The consolidation entries also reflect adjustments in accordance with IAS 39 for IGM and Pargesa.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">[5]<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Includes earnings of the Corporation&#8217;s investment platforms and earnings (losses) from Power Energy Corporation and standalone businesses, which include IntegraMed (up to the date of deconsolidation on May 20, 2020).<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">[6]<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Attributable to participating shareholders.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\n        <b>Alternative and Other Investments<\/b>\n      <\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prngen2\">\n<tr>\n<td colspan=\"6\" class=\"prngen17\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(unaudited)<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Three months ended<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Nine months ended<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(in millions of Canadian dollars)<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">September\u00a030,<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">September\u00a030,<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2019<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2019<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Sagard Holdings <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">Asset management activities <sup>[1]<\/sup><\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>4<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(4)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>\u2212<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(24)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">Investing activities (proprietary capital)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>\u2212<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>\u2212<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>32<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">8<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Power Sustainable Capital <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">Investing activities (proprietary capital)\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(5)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">14<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>38<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">66<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Other <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">Standalone businesses\u00a0<sup>[2]<\/sup><\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>23<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(18)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(16)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(52)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">Investment and hedge funds and other <sup>[3]<\/sup><\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(2)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(4)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">21<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>20<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(5)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>50<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">19<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<div class=\"prntal\">\n<table id=\"convertedTable7605\" cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">[1]<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Includes management fees charged by the investment platform on proprietary capital. Management fees paid by the Corporation are deducted from income from investment activities.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">[2]<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Includes the Corporation&#8217;s share of earnings (losses) of IntegraMed (up to the date of deconsolidation on May 20, 2020), Lumenpulse Group Inc., The Lion Electric Co., and a jointly controlled corporation and associates.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">[3]<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Other consists mainly of foreign exchange gains or losses and interest on cash and cash equivalents.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p><\/p>\n<p>\n        <b>Adjustments (not included in adjusted net earnings)<\/b>\n      <\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prngen2\">\n<tr>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td colspan=\"3\" class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td colspan=\"3\" class=\"prngen6\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(unaudited)<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"3\" class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Three months ended<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td colspan=\"3\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Nine months ended<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(in millions of Canadian dollars)<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"3\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">September 30,<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td colspan=\"3\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">September 30,<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2019<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2019<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Share of Lifeco&#8217;s adjustments: <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Actuarial assumption changes <\/span>\n              <\/p>\n<\/td>\n<td rowspan=\"2\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>44<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td rowspan=\"2\" class=\"prngen12\">\n              \n            <\/td>\n<td rowspan=\"2\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">54<\/span>\n              <\/p>\n<\/td>\n<td rowspan=\"2\" class=\"prngen12\">\n              \n            <\/td>\n<td rowspan=\"2\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>91<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td rowspan=\"2\" class=\"prngen12\">\n              \n            <\/td>\n<td rowspan=\"2\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">167<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\">\n<p class=\"prnml20\">\n                <span class=\"prnews_span\">and other management\u00a0actions<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Market-related impacts on liabilities<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>13<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(19)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(64)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(51)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Net gain on sale of Irish Progressive Services International Limited<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>63<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u2212<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>63<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u2212<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Transaction costs related to the acquisitions <\/span>\n              <\/p>\n<\/td>\n<td rowspan=\"2\" class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(21)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td rowspan=\"2\" class=\"prngen12\">\n              \n            <\/td>\n<td rowspan=\"2\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u2212<\/span>\n              <\/p>\n<\/td>\n<td rowspan=\"2\" class=\"prngen12\">\n              \n            <\/td>\n<td rowspan=\"2\" class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(21)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td rowspan=\"2\" class=\"prngen12\">\n              \n            <\/td>\n<td rowspan=\"2\" class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u2212<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\">\n<p class=\"prnml20\">\n                <span class=\"prnews_span\">of Personal Capital and MassMutual<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Net charge on the sale, via reinsurance, of U.S. individual life <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\">\n<p class=\"prnml20\">\n                <span class=\"prnews_span\">insurance and annuity business <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>\u2212<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u2212<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>\u2212<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(134)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>99<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">35<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>69<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(18)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Share of IGM&#8217;s adjustments <sup>[1]<\/sup>: <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Restructuring and other charges<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(34)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u2212<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(34)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u2212<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Share of Lifeco&#8217;s adjustments\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>4<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>3<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(1)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(30)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(31)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(1)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Share of Pargesa&#8217;s adjustments: <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Imerys \u2013 Impairments, restructuring charges and other<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(1)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u2212<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(3)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(7)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Parques and other charges <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(1)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(6)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(3)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(6)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(2)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(6)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(6)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(13)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>67<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">30<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>32<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(32)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Attributable to non-controlling interests of\u00a0Power\u00a0Financial<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>\u2212<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">10<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>4<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(12)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Corporation&#8217;s share of Power Financial<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>67<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">20<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>28<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(20)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Other investments<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Recovery on deconsolidation of IntegraMed<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>\u2212<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u2212<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>27<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u2212<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Corporate operations<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Reduction of income tax estimates <sup>[2]<\/sup><\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>\u2212<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">31<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>\u2212<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">31<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>67<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">51<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>55<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">11<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<div>\n<table id=\"convertedTable1d4a\" cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prngen2\">\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">[1]<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Includes IGM&#8217;s share of Lifeco&#8217;s Adjustments for the impact of actuarial assumption changes and management actions and market impact on insurance contract liabilities, in accordance with the Corporation&#8217;s definition of Adjusted net earnings. Excludes the Corporation&#8217;s share of IGM&#8217;s Adjustment related to the gain on disposal of Personal Capital; the Corporation has not included this amount as an Adjustment as the gain recognized by the Corporation relates to the remeasurement of the investment in Personal Capital at fair value on the date Lifeco acquired control. For additional information, please refer to the Non-IFRS Financial Measures and Presentation section later in this news release.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">[2]<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Related to a favourable change in income tax provision estimates recorded in the third quarter of 2019.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p><\/p>\n<p>\n        <b>Contribution to Power Corporation&#8217;s Adjusted Net Earnings<\/b>\n      <\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prngen2\">\n<tr>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>In millions<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Per share<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Three months ended September 30, 2020<\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(unaudited)<\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(in Canadian dollars)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Contribution <\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">to adjusted net\u00a0earnings <\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">as reported<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\">\n              \n            <\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Consolidation entries <sup>[1]<\/sup><\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\">\n              \n            <\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Contribution to <br \/>Power <br \/>Corporation&#8217;s <\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">adjusted net\u00a0earnings<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\">\n              \n            <\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Contribution <\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">to adjusted net\u00a0earnings <\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">as reported<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\">\n              \n            <\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Consolidation entries <sup>[1]<\/sup><\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen21\">\n              \n            <\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Contribution to Power Corporation&#8217;s <\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">adjusted net\u00a0earnings<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Lifeco <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">454<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(7)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">447<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.67<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(0.01)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.66<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">IGM\u00a0<sup>[2]<\/sup><\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">133<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(19)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">114<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.20<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(0.03)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.17<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Pargesa<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(15)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(28)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(43)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(0.02)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(0.05)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(0.07)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Nine months ended September 30, 2020<\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(unaudited)<\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(in Canadian dollars)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Contribution <\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">to adjusted net\u00a0earnings <\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">as reported<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Consolidation entries\u00a0<sup>[1]<\/sup><\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Contribution to Power Corporation&#8217;s <\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">adjusted net\u00a0earnings<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Contribution <\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">to adjusted net\u00a0earnings <\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">as reported<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Consolidation entries\u00a0<sup>[1]<\/sup><\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Contribution to Power Corporation&#8217;s <\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">adjusted net\u00a0earnings<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Lifeco <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,216<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(9)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,207<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1.91<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(0.01)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1.90<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">IGM <sup>[2]<\/sup><\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">330<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(28)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">302<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.52<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(0.05)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.47<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Pargesa<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">73<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(28)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">45<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.11<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(0.04)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.07<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<div>\n<table id=\"convertedTablebb2e\" cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prngen2\">\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">[1]<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">The contributions from Lifeco and IGM include an allocation of the results of Portag3 I, Portag3 II, Wealthsimple and Koho, based on their respective interest. The contributions from IGM and Pargesa reflect adjustments in accordance with IAS 39.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">[2]<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">In the third quarter of 2020, the adjustment of IGM mainly relates to the allocation of the remeasurement of the put right liability of the non-controlling interests in Wealthsimple to fair value and carried interests payable. This charge was offset by IGM&#8217;s gain on Personal Capital which the Corporation has not included as an Adjustment; the Corporation has not included this amount as an Adjustment as the gain recognized by the Corporation relates to the remeasurement of the investment in Personal Capital at fair value on the date Lifeco acquired control.\u00a0<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\n        <b>Adjustments to Pargesa&#8217;s Contribution<\/b>\n      <\/p>\n<p>Power Corporation has deferred the adoption of IFRS 9 and continues to apply IAS 39. The following table presents adjustments to the contribution of Pargesa to Power Corporation&#8217;s earnings in accordance with IAS 39:<\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prngen2\">\n<tr>\n<td class=\"prngen21\">\n              \n            <\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(unaudited)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2020<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(in millions of Canadian dollars)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Q3<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Q2<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Q1<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Total<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Disposal of interest in Total SA <sup>[1]<\/sup><\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u2212<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u2212<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">45<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">45<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Impairment charges <sup>[1]<\/sup>\u00a0\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(7)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(5)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(40)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(52)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Disposal of private equity funds\u00a0and other<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(2)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(4)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">17<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">11<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Reversal of unrealized (gains) losses on private equity\u00a0funds\u00a0and other\u00a0<sup>[2]<\/sup><\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(19)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(33)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">20<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(32)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Total<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(28)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(42)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">42<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\">\n              \n            <\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(28)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<div>\n<table id=\"convertedTable1791\" cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prngen2\">\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">[1]<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">On January 1, 2018, Pargesa adopted IFRS 9 which resulted in the reclassification of the majority of its investments (excluding private equity funds) from available for sale (AFS) to fair value through other comprehensive income (FVOCI). All changes in fair value of equity investments designated as FVOCI are recognized permanently in other comprehensive income. Power Corporation continues to apply IAS 39 and has adjusted its share of these items.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">[2]<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Pargesa classifies private equity investments at fair value through profit and loss in accordance with IFRS 9 and recognizes unrealized changes in fair value in earnings. Power Corporation does not recognize these unrealized fair value changes in earnings as it continues to classify these private equity funds as available for sale in accordance with IAS 39.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\n        <b>Net Asset Value<\/b>\n      <\/p>\n<p>Net asset value represents management&#8217;s estimate of the fair value of the participating shareholders&#8217; equity of the Corporation. Net asset value is the fair value of the assets of the combined Power Financial and Power Corporation&#8217;s non-consolidated balance sheet less their net debt and preferred shares. The Corporation&#8217;s net asset value per share is presented on a look-through basis.<\/p>\n<p>The Corporation&#8217;s net asset value per share was <span class=\"xn-money\">$34.94<\/span> at <span class=\"xn-chron\">September 30, 2020<\/span>, compared with <span class=\"xn-money\">$32.96<\/span> at <span class=\"xn-chron\">June 30, 2020<\/span>, representing an increase of 6.0%. <\/p>\n<p>\n        <b><br \/>\n          <br \/>\n        <\/b>\n      <\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prntblns\">\n<tr>\n<td class=\"prnsbt1 prnsbr1 prnvab prnsbbs prntal prnpl6 prnsbl1 prnpr8\">\n              \n            <\/td>\n<td class=\"prngen23\">\n              \n            <\/td>\n<td class=\"prngen23\">\n              \n            <\/td>\n<td class=\"prngen23\">\n              \n            <\/td>\n<td class=\"prngen23\">\n              \n            <\/td>\n<td class=\"prngen23\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen24\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">September\u00a030, 2020\u00a0<br \/><\/span><br \/>\n                <span class=\"prnews_span\">(in millions of Canadian dollars,<br \/><\/span><br \/>\n                <span class=\"prnews_span\">except per share amounts)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen25\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Combined <br \/>non-consolidated <br \/>balance sheet<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\">\n              \n            <\/td>\n<td class=\"prngen25\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Fair value <br \/>adjustment<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\">\n              \n            <\/td>\n<td class=\"prngen25\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Net asset value<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prnsbts prnsbr1 prnvab prnsbb1 prntal prnpl6 prnsbl1 prnpr6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Assets<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen28\">\n              \n            <\/td>\n<td class=\"prngen28\">\n              \n            <\/td>\n<td class=\"prngen28\">\n              \n            <\/td>\n<td class=\"prngen28\">\n              \n            <\/td>\n<td class=\"prngen28\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen24\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Investments<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\">\n              \n            <\/td>\n<td class=\"prngen26\">\n              \n            <\/td>\n<td class=\"prngen26\">\n              \n            <\/td>\n<td class=\"prngen26\">\n              \n            <\/td>\n<td class=\"prngen26\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen24\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">Power Financial<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\">\n              \n            <\/td>\n<td class=\"prngen26\">\n              \n            <\/td>\n<td class=\"prngen26\">\n              \n            <\/td>\n<td class=\"prngen26\">\n              \n            <\/td>\n<td class=\"prngen26\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen24\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Lifeco<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">14,291<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\">\n              \n            <\/td>\n<td class=\"prngen26\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,848<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\">\n              \n            <\/td>\n<td class=\"prngen26\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">16,139<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen24\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">IGM<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,785<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\">\n              \n            <\/td>\n<td class=\"prngen26\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,731<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\">\n              \n            <\/td>\n<td class=\"prngen26\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">4,516<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen24\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Pargesa\/GBL<sup>\u00a0[1]<\/sup><\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,860<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\">\n              \n            <\/td>\n<td class=\"prngen25\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(1,182)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\">\n              \n            <\/td>\n<td class=\"prngen26\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,678<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen24\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Other Power Financial investments<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">152<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\">\n              \n            <\/td>\n<td class=\"prngen26\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">362<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\">\n              \n            <\/td>\n<td class=\"prngen26\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">514<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen24\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">Alternative and other investments<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\">\n              \n            <\/td>\n<td class=\"prngen26\">\n              \n            <\/td>\n<td class=\"prngen26\">\n              \n            <\/td>\n<td class=\"prngen26\">\n              \n            <\/td>\n<td class=\"prngen26\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen24\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Sagard Holdings<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\">\n              \n            <\/td>\n<td class=\"prngen26\">\n              \n            <\/td>\n<td class=\"prngen26\">\n              \n            <\/td>\n<td class=\"prngen26\">\n              \n            <\/td>\n<td class=\"prngen26\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen24\">\n<p class=\"prnml20\">\n                <span class=\"prnews_span\">Asset management companies<sup>\u00a0[2]<\/sup><\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">177<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\">\n              \n            <\/td>\n<td class=\"prngen26\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u2212<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\">\n              \n            <\/td>\n<td class=\"prngen26\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">177<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen24\">\n<p class=\"prnml20\">\n                <span class=\"prnews_span\">Investments <sup>[3]<\/sup><\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">709<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\">\n              \n            <\/td>\n<td class=\"prngen26\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u2212<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\">\n              \n            <\/td>\n<td class=\"prngen26\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">709<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen24\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Power Sustainable Capital<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\">\n              \n            <\/td>\n<td class=\"prngen26\">\n              \n            <\/td>\n<td class=\"prngen26\">\n              \n            <\/td>\n<td class=\"prngen26\">\n              \n            <\/td>\n<td class=\"prngen26\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen24\">\n<p class=\"prnml20\">\n                <span class=\"prnews_span\">Power Pacific<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">977<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\">\n              \n            <\/td>\n<td class=\"prngen26\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u2212<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\">\n              \n            <\/td>\n<td class=\"prngen26\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">977<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen24\">\n<p class=\"prnml20\">\n                <span class=\"prnews_span\">Power Energy Corporation<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">418<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\">\n              \n            <\/td>\n<td class=\"prngen26\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">317<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\">\n              \n            <\/td>\n<td class=\"prngen26\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">735<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen24\">\n<p class=\"prnml10 prnmr4\">\n                <span class=\"prnews_span\">Other <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\">\n              \n            <\/td>\n<td class=\"prngen26\">\n              \n            <\/td>\n<td class=\"prngen26\">\n              \n            <\/td>\n<td class=\"prngen26\">\n              \n            <\/td>\n<td class=\"prngen26\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen24\">\n<p class=\"prngen37\">\n                <span class=\"prnews_span\">Standalone businesses<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">536<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\">\n              \n            <\/td>\n<td class=\"prngen26\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">89<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\">\n              \n            <\/td>\n<td class=\"prngen26\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">625<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen24\">\n<p class=\"prngen37\">\n                <span class=\"prnews_span\">Other<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">150<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\">\n              \n            <\/td>\n<td class=\"prngen26\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">15<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\">\n              \n            <\/td>\n<td class=\"prngen26\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">165<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen24\">\n<p class=\"prnml8 prnmr4\">\n                <span class=\"prnews_span\">China AMC\u00a0<sup>[4]<\/sup><\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">709<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\">\n              \n            <\/td>\n<td class=\"prngen26\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u2212<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\">\n              \n            <\/td>\n<td class=\"prngen26\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">709<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen24\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Cash and cash equivalents<sup>\u00a0<\/sup><\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,216<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\">\n              \n            <\/td>\n<td class=\"prngen26\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u2212<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\">\n              \n            <\/td>\n<td class=\"prngen26\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,216<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen24\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Other assets<sup>\u00a0<\/sup><\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">351<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\">\n              \n            <\/td>\n<td class=\"prngen26\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u2212<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\">\n              \n            <\/td>\n<td class=\"prngen26\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">351<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prnsbts prnsbr1 prnvab prnsbbs prntal prnpl6 prnsbl1 prnpr6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Total assets<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">26,331<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\">\n              \n            <\/td>\n<td class=\"prngen30\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,180<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen30\">\n              \n            <\/td>\n<td class=\"prngen30\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">29,511<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\">\n              \n            <\/td>\n<td class=\"prngen26\">\n              \n            <\/td>\n<td class=\"prngen26\">\n              \n            <\/td>\n<td class=\"prngen26\">\n              \n            <\/td>\n<td class=\"prngen26\">\n              \n            <\/td>\n<td class=\"prngen26\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen24\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Liabilities and <\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td rowspan=\"2\" class=\"prngen26\">\n              \n            <\/td>\n<td rowspan=\"2\" class=\"prngen26\">\n              \n            <\/td>\n<td rowspan=\"2\" class=\"prngen26\">\n              \n            <\/td>\n<td rowspan=\"2\" class=\"prngen26\">\n              \n            <\/td>\n<td rowspan=\"2\" class=\"prngen26\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen24\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>non-participating shares<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen24\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Debentures and other debt instruments<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,044<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\">\n              \n            <\/td>\n<td class=\"prngen26\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u2212<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\">\n              \n            <\/td>\n<td class=\"prngen26\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,044<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen24\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Other liabilities\u00a0<sup>[5]<\/sup>\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,053<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\">\n              \n            <\/td>\n<td class=\"prngen26\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u2212<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\">\n              \n            <\/td>\n<td class=\"prngen26\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,053<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen31\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Non-participating shares and <\/span>\n              <\/p>\n<\/td>\n<td rowspan=\"2\" class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,787<\/span>\n              <\/p>\n<\/td>\n<td rowspan=\"2\" class=\"prngen23\">\n              \n            <\/td>\n<td rowspan=\"2\" class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u2212<\/span>\n              <\/p>\n<\/td>\n<td rowspan=\"2\" class=\"prngen23\">\n              \n            <\/td>\n<td rowspan=\"2\" class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,787<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen32\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">perpetual preferred shares<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen24\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Total liabilities and non-participating shares<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">5,884<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\">\n              \n            <\/td>\n<td class=\"prngen26\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u2212<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\">\n              \n            <\/td>\n<td class=\"prngen26\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">5,884<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen28\">\n              \n            <\/td>\n<td class=\"prngen28\">\n              \n            <\/td>\n<td class=\"prngen28\">\n              \n            <\/td>\n<td class=\"prngen28\">\n              \n            <\/td>\n<td class=\"prngen28\">\n              \n            <\/td>\n<td class=\"prngen28\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen24\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Net value<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\">\n              \n            <\/td>\n<td class=\"prngen26\">\n              \n            <\/td>\n<td class=\"prngen26\">\n              \n            <\/td>\n<td class=\"prngen26\">\n              \n            <\/td>\n<td class=\"prngen26\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen31\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Participating shareholders&#8217; <\/span>\n              <\/p>\n<\/td>\n<td rowspan=\"2\" class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">20,447<\/span>\n              <\/p>\n<\/td>\n<td rowspan=\"2\" class=\"prngen23\">\n              \n            <\/td>\n<td rowspan=\"2\" class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,180<\/span>\n              <\/p>\n<\/td>\n<td rowspan=\"2\" class=\"prngen23\">\n              \n            <\/td>\n<td rowspan=\"2\" class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">23,627<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen32\">\n<p class=\"prnml8\">\n                <span class=\"prnews_span\">equity \/ Net asset value<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen26\">\n              \n            <\/td>\n<td class=\"prngen26\">\n              \n            <\/td>\n<td class=\"prngen26\">\n              \n            <\/td>\n<td class=\"prngen26\">\n              \n            <\/td>\n<td class=\"prngen26\">\n              \n            <\/td>\n<td class=\"prngen26\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen32\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Per share<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>30.24<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen23\">\n              \n            <\/td>\n<td class=\"prngen23\">\n              \n            <\/td>\n<td class=\"prngen23\">\n              \n            <\/td>\n<td class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>34.94<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<div>\n<table id=\"convertedTabled501\" cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prngen2\">\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">[1]<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">As part of the Pargesa reorganization, Parjointco holds approximately 97% of Pargesa&#8217;s shares at September 30, 2020; the fair value of Parjointco at September 30, 2020 is based on the market value of GBL. <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">[2]<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">The management companies of the investment funds are presented at their carrying value in accordance with IFRS.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">[3]<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Includes investments in European private equity, formerly Sagard Europe. <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">[4]<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Valued at carrying value in accordance with IFRS. <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">[5]<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">In accordance with IAS\u00a012, <i>Income taxes<\/i>, no deferred tax liability is recognized with respect to temporary differences associated with investments in subsidiaries and jointly controlled corporations as the Corporation is able to control the timing of the reversal of the temporary differences and it is probable that the temporary differences will not reverse in the foreseeable future. If the Corporation were to dispose of an investment in a subsidiary or a jointly controlled corporation, income taxes payable on such disposition would be minimized through careful and prudent tax planning and structuring, as well as with the use of available tax attributes not otherwise recognized on the balance sheet, including tax losses, tax basis, safe income and foreign tax surplus associated with the subsidiary or jointly controlled corporation.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\n        <b>Non-IFRS Financial Measures and Presentation <\/b>\n      <\/p>\n<p>In the second quarter of 2020, the Corporation modified the presentation of the asset management companies held by the investment platforms. Previously, the asset management activities were consolidated and included as corporate activities within the non-consolidated balance sheet of the Corporation. Pursuant to the Corporation&#8217;s recently announced strategy, the activities of each asset management company are now presented within their operations. The comparatives in the non-consolidated balance sheets and non-consolidated statement of cash flows have been restated to reflect this change.<\/p>\n<p>Effective the first quarter of 2020, the Corporation introduced a modified definition of its non-IFRS earnings measure, Adjusted net earnings. This change is consistent with the introduction of base earnings (loss) by Lifeco which was introduced in the first quarter of 2020 to reflect management&#8217;s view of the operating performance of Lifeco. Lifeco defines base earnings (loss) as net earnings excluding the impact of actuarial assumption changes and management actions, direct equity and interest rate market impacts on insurance contract liabilities net of hedging, and items that management believes are not indicative of the company&#8217;s underlying business results. The definition of Adjustments includes what the Corporation previously presented as other items and also includes Lifeco&#8217;s impact of actuarial assumption changes and management actions, and direct equity and interest rate market impacts on insurance contract liabilities net of hedging. The definition of Adjustments used in Adjusted net earnings is being adopted to enhance comparability of results between reporting periods and in anticipation of Lifeco&#8217;s implementation of accounting changes related to IFRS 17, <i>Insurance Contracts<\/i>, on <span class=\"xn-chron\">January 1, 2023<\/span>. The comparative periods have been restated to reflect the introduction of this modified measure. <\/p>\n<p>Net earnings attributable to participating shareholders are comprised of:<\/p>\n<ul type=\"disc\">\n<li>Adjusted net earnings attributable to participating shareholders; and <\/li>\n<li>Adjustments, which include the after-tax impact of any item that in management&#8217;s judgment\u00a0would make the period-over-period comparison of results from operations less meaningful. Adjustments include\u00a0the Corporation&#8217;s share of Lifeco&#8217;s impact of actuarial assumption changes and management actions, direct equity and interest rate market impacts on insurance contract liabilities net of hedging, as well as items that management believes are not indicative of the underlying business results which include those identified by a subsidiary or a jointly controlled corporation.<\/li>\n<\/ul>\n<p>Management uses these financial measures in its presentation and analysis of the financial performance of Power Corporation and believes that they provide additional meaningful information to readers in their analysis of the results of the Corporation. Adjusted net earnings, as defined by the Corporation, assist the reader in comparing the current period&#8217;s results to those of previous periods as it reflects management&#8217;s view of the operating performance of the Corporation and its subsidiaries and excludes items that are not considered to be part of the underlying business results from this non-IFRS financial measure. <\/p>\n<p>Adjusted net earnings attributable to participating shareholders and adjusted net earnings per share are non-IFRS financial measures that do not have a standard meaning and may not be comparable to similar measures used by other entities. <\/p>\n<p>The Corporation also uses a non-consolidated basis of presentation to present and analyze its results whereby the Corporation&#8217;s interests in Power Financial and other subsidiaries are accounted for using the equity method. Presentation on a non-consolidated basis is a non-IFRS presentation. However, it is useful to the reader as it presents the holding company&#8217;s (parent) results separately from the results of its operating subsidiaries.<\/p>\n<p>Net asset value is commonly used by holding companies to determine their value. Net asset value is the fair value of Power Corporation&#8217;s non-consolidated assets less its net debt and preferred shares. The investments held in public entities (including Lifeco, IGM and GBL (through Parjointco)) are measured at their market value and investments in private entities and investment funds are measured at management&#8217;s estimate of fair value.\u00a0Pargesa&#8217;s net asset value is determined on the basis of current market values for listed shareholdings, plus the fair value of private equity activities and GBL treasury shares, less net debt. This measure presents the fair value of the net assets of the holding company to management and investors and assists the reader in determining the value of the holding company.<\/p>\n<p>This news release may also contain other non-IFRS financial measures which are publicly disclosed by the Corporation&#8217;s subsidiaries such as sales, assets under management and assets under administration. Refer to the &#8220;Non-IFRS Financial Measures and Presentation&#8221; section of the Corporation&#8217;s most recent Management&#8217;s Discussion and Analysis for the definition of non-IFRS financial measures and their reconciliation with IFRS financial measures.<\/p>\n<p>\n        <b>Eligible Dividends<\/b>\n      <\/p>\n<p>For purposes of the <i>Income Tax Act<\/i> (<span class=\"xn-location\">Canada<\/span>) and any similar provincial legislation, all of the above dividends on the Corporation&#8217;s preferred shares (including the Participating Preferred Shares) and Subordinate Voting Shares are eligible dividends.<\/p>\n<p>\n        <b>Forward-Looking Statements<\/b>\n      <\/p>\n<p>Certain statements in this news release, other than statements of historical fact, are forward-looking statements based on certain assumptions and reflect the Corporation&#8217;s current expectations, or with respect to disclosure regarding the Corporation&#8217;s public subsidiaries, reflect such subsidiaries&#8217; disclosed current expectations. Forward-looking statements are provided for the purposes of assisting the reader in understanding the Corporation&#8217;s financial performance, financial position and cash flows as at and for the periods ended on certain dates and to present information about management&#8217;s current expectations and plans relating to the future and the reader is cautioned that such statements may not be appropriate for other purposes. These statements may include, without limitation, statements regarding the operations, business, financial condition, expected financial results, performance, prospects, opportunities, priorities, targets, goals, ongoing objectives, strategies and outlook of the Corporation and its subsidiaries, including the fintech strategy, the expected impact of the COVID-19 pandemic on the Corporation and its subsidiaries&#8217; operations, results and dividends, as well as the outlook for North American and international economies for the current fiscal year and subsequent periods, the intended effects of the Reorganization (as defined herein), and the proposed redemption by the Corporation and Power Financial of certain classes of their First Preferred Shares. Forward-looking statements include statements that are predictive in nature, depend upon or refer to future events or conditions, or include words such as &#8220;expects&#8221;, &#8220;anticipates&#8221;, &#8220;plans&#8221;, &#8220;believes&#8221;, &#8220;estimates&#8221;, &#8220;seeks&#8221;, &#8220;intends&#8221;, &#8220;targets&#8221;, &#8220;projects&#8221;, &#8220;forecasts&#8221; or negative versions thereof and other similar expressions, or future or conditional verbs such as &#8220;may&#8221;, &#8220;will&#8221;, &#8220;should&#8221;, &#8220;would&#8221; and &#8220;could&#8221;.<\/p>\n<p>By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. A variety of factors, many of which are beyond the Corporation&#8217;s and its subsidiaries&#8217; control, affect the operations, performance and results of the Corporation and its subsidiaries and their businesses, and could cause actual results to differ materially from current expectations of estimated or anticipated events or results. These factors include, but are not limited to: the impact or unanticipated impact of general economic, political and market factors in <span class=\"xn-location\">North America<\/span> and internationally, fluctuations in interest rates, inflation and foreign exchange rates, monetary policies, business investment and the health of local and global equity and capital markets, management of market liquidity and funding risks, risks related to investments in private companies and illiquid securities, risks associated with financial instruments, changes in accounting policies and methods used to report financial condition (including uncertainties associated with significant judgments, estimates and assumptions), the effect of applying future accounting changes, business competition, operational and reputational risks, technological changes, cybersecurity risks, changes in government regulation and legislation, changes in tax laws, unexpected judicial or regulatory proceedings, catastrophic events, man-made disasters, terrorist attacks, wars and other conflicts, or an outbreak of a public health pandemic or other public health crises (such as COVID-19), the Corporation&#8217;s and its subsidiaries&#8217; ability to complete strategic transactions, integrate acquisitions and implement other growth strategies, and the Corporation&#8217;s and its subsidiaries&#8217; success in anticipating and managing the foregoing factors.<\/p>\n<p>The reader is cautioned to consider these and other factors, uncertainties and potential events carefully and not to put undue reliance on forward-looking statements. Information contained in forward-looking statements is based upon certain material assumptions that were applied in drawing a conclusion or making a forecast or projection, including management&#8217;s perceptions of historical trends, current conditions and expected future developments, as well as other considerations that are believed to be appropriate in the circumstances, including the availability of cash to redeem First Preferred Shares of the Corporation and Power Financial and that the list of factors in the previous paragraph, collectively, are not expected to have a material impact on the Corporation and its subsidiaries. While the Corporation considers these assumptions to be reasonable based on information currently available to management, they may prove to be incorrect.<\/p>\n<p>Other than as specifically required by applicable Canadian law, the Corporation undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made, or to reflect the occurrence of unanticipated events, whether as a result of new information, future events or results, or otherwise.<\/p>\n<p>Additional information about the risks and uncertainties of the Corporation&#8217;s business and material factors or assumptions on which information contained in forward-looking statements is based is provided in its disclosure materials, including its most recent Management&#8217;s Discussion and Analysis and Annual Information Form, filed with the securities regulatory authorities in <span class=\"xn-location\">Canada<\/span> and available at <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=2978158-1&amp;h=3735476334&amp;u=https%3A%2F%2Fwww.sedar.com%2F&amp;a=www.sedar.com\" rel=\"nofollow noopener noreferrer\">www.sedar.com<\/a>.<\/p>\n<p>SOURCE  Power Corporation of <span class=\"xn-location\">Canada<\/span><\/p>\n<\/p><\/div>\n<p>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=C0923&amp;Transmission_Id=202011111745CANADANWWEB______C0923&amp;DateId=20201111\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Canada NewsWire Readers are referred to the sections &#8220;Non-IFRS Financial Measures and Presentation&#8221; and &#8220;Forward-Looking Statements&#8221; at\u00a0the end of this release. MONTR\u00c9AL, Nov. 11, 2020 \/CNW Telbec\/ &#8211;\u00a0Power Corporation of Canada (Power Corporation or the Corporation) (TSX:\u00a0POW) today reported earnings results for the three and nine months ended September 30, 2020. Power CorporationConsolidated results for the period ended September 30 Highlights The Corporation&#8217;s net asset value per share (a non-IFRS financial measure, see Non-IFRS Financial Measures and Presentation later in this news release) was $34.94 at September 30, 2020, compared with $32.96 at June 30, 2020, representing an increase of 6.0%. August 17, 2020: Great-West Lifeco Inc. (Lifeco)&#8217;s subsidiary Empower Retirement completed the acquisition of Personal Capital Corporation (Personal Capital), &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/power-corporation-reports-third-quarter-2020-financial-results\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Power Corporation Reports Third Quarter 2020 Financial Results&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-379127","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Power Corporation Reports Third Quarter 2020 Financial Results - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/power-corporation-reports-third-quarter-2020-financial-results\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Power Corporation Reports Third Quarter 2020 Financial Results - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Canada NewsWire Readers are referred to the sections &#8220;Non-IFRS Financial Measures and Presentation&#8221; and &#8220;Forward-Looking Statements&#8221; at\u00a0the end of this release. MONTR\u00c9AL, Nov. 11, 2020 \/CNW Telbec\/ &#8211;\u00a0Power Corporation of Canada (Power Corporation or the Corporation) (TSX:\u00a0POW) today reported earnings results for the three and nine months ended September 30, 2020. Power CorporationConsolidated results for the period ended September 30 Highlights The Corporation&#8217;s net asset value per share (a non-IFRS financial measure, see Non-IFRS Financial Measures and Presentation later in this news release) was $34.94 at September 30, 2020, compared with $32.96 at June 30, 2020, representing an increase of 6.0%. August 17, 2020: Great-West Lifeco Inc. (Lifeco)&#8217;s subsidiary Empower Retirement completed the acquisition of Personal Capital Corporation (Personal Capital), &hellip; Continue reading &quot;Power Corporation Reports Third Quarter 2020 Financial Results&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/power-corporation-reports-third-quarter-2020-financial-results\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2020-11-11T22:48:15+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=C0923&amp;Transmission_Id=202011111745CANADANWWEB______C0923&amp;DateId=20201111\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"29 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/power-corporation-reports-third-quarter-2020-financial-results\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/power-corporation-reports-third-quarter-2020-financial-results\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Power Corporation Reports Third Quarter 2020 Financial Results\",\"datePublished\":\"2020-11-11T22:48:15+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/power-corporation-reports-third-quarter-2020-financial-results\\\/\"},\"wordCount\":5712,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/power-corporation-reports-third-quarter-2020-financial-results\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/rt.prnewswire.com\\\/rt.gif?NewsItemId=C0923&amp;Transmission_Id=202011111745CANADANWWEB______C0923&amp;DateId=20201111\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/power-corporation-reports-third-quarter-2020-financial-results\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/power-corporation-reports-third-quarter-2020-financial-results\\\/\",\"name\":\"Power Corporation Reports Third Quarter 2020 Financial Results - 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MONTR\u00c9AL, Nov. 11, 2020 \/CNW Telbec\/ &#8211;\u00a0Power Corporation of Canada (Power Corporation or the Corporation) (TSX:\u00a0POW) today reported earnings results for the three and nine months ended September 30, 2020. Power CorporationConsolidated results for the period ended September 30 Highlights The Corporation&#8217;s net asset value per share (a non-IFRS financial measure, see Non-IFRS Financial Measures and Presentation later in this news release) was $34.94 at September 30, 2020, compared with $32.96 at June 30, 2020, representing an increase of 6.0%. August 17, 2020: Great-West Lifeco Inc. (Lifeco)&#8217;s subsidiary Empower Retirement completed the acquisition of Personal Capital Corporation (Personal Capital), &hellip; Continue reading \"Power Corporation Reports Third Quarter 2020 Financial Results\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/power-corporation-reports-third-quarter-2020-financial-results\/","og_site_name":"Market Newsdesk","article_published_time":"2020-11-11T22:48:15+00:00","og_image":[{"url":"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=C0923&amp;Transmission_Id=202011111745CANADANWWEB______C0923&amp;DateId=20201111","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"29 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/power-corporation-reports-third-quarter-2020-financial-results\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/power-corporation-reports-third-quarter-2020-financial-results\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Power Corporation Reports Third Quarter 2020 Financial Results","datePublished":"2020-11-11T22:48:15+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/power-corporation-reports-third-quarter-2020-financial-results\/"},"wordCount":5712,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/power-corporation-reports-third-quarter-2020-financial-results\/#primaryimage"},"thumbnailUrl":"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=C0923&amp;Transmission_Id=202011111745CANADANWWEB______C0923&amp;DateId=20201111","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/power-corporation-reports-third-quarter-2020-financial-results\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/power-corporation-reports-third-quarter-2020-financial-results\/","name":"Power Corporation Reports Third Quarter 2020 Financial Results - 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