Power Corporation Of Canada · TSX:POW
Power Corporation Of Canada — Shareholder Meeting (2022)
22 slides from Power Corporation Of Canada's shareholder meeting presentation, 2022
Slide 1: Presentation to be viewed with the CEO's narration
Please note that this presentation is meant to be viewed with the narration provided in the President and Chief Executive Officer's Address to the Shareholders.
Slide 2: Forward-Looking Statements
Forward-Looking Statements In the course of today’s meeting, representatives of the Corporation may make, in policies and methods used to report financial condition (including uncertainties financial measures are identified include, but are not limited to, “adjusted net their remarks or in response
Slide 3: 2021 ESG highlights
2021 ESG highlights $45M in charitable 29% female donations from the representation Power group on Power’s Board Commitments and listings within the Power group: P OWER C ORP ORATI ON OF C ANAD A 2022 ANNU AL M EET ING O F S H AREH O LD ERS
Slide 4: Our three key levers
Our three 1 OpCo Organic key levers 2 OpCo M&A 3 Power Company Level P OWER C ORP ORATI ON OF C ANAD A 2022 ANNU AL M EET ING O F S H AREH O LD ERS
Slide 5: Record-high net earnings at Power Corporation
Record-high net earnings at Power Corporation Net Adjusted earnings net earnings(1) P OWER C ORP ORATI ON OF C ANAD A 2022 ANNU AL M EET ING O F S H AREH O LD ERS (1) Non-IFRS financial measure. See the Non-IFRS Financial Measures section at the beginning of this presentation.
Slide 6: Attractive total shareholder returns
Attractive total shareholder returns Total shareholder return (annualized) Power Corporation S&P TSX Financials S&P TSX P OWER C ORP ORATI ON OF C ANAD A 2022 ANNU AL M EET ING O F S H AREH O LD ERS
Slide 7: Our operating companies successfully executed on organic growth and M&A strategies
Our operating companies successfully executed on organic growth and M&A strategies P OWER C ORP ORATI ON OF C ANAD A 2022 ANNU AL M EET ING O F S H AREH O LD ERS
Slide 8: Record financial results at Great-West Lifeco
Record financial results at Great-West Lifeco Base earnings(1) 2021 net earnings of $3.1B and base earnings of $3.3B (1) Identified as a non-GAAP financial measure by Great-West Lifeco. See the Disclosures Concerning P OWER C ORP ORATI ON OF C ANAD A 2022 ANNU AL M EET ING O F S H AREH O LD ERS Publ
Slide 9: Empower is the #2 retirement services company in the U.S.
Empower is the #2 retirement services company in the U.S. 17M+ plan participants (1) US$1.4T+ in assets under administration (1)(2) Recent strategic acquisitions: (1) As at April 1, 2022. (2) Identified as a non-GAAP financial measure by Great-West Lifeco. See the Disclosures P OWER C ORP ORATI ON O
Slide 10: Record-high net flows, AUM&A and net earnings at IGM
Record-high net flows, AUM&A and net earnings at IGM AUM&A(1) Net earnings 15% 28% Record-high net flows $8.7B P OWER C ORP ORATI ON OF C ANAD A 2022 ANNU AL M EET ING O F S H AREH O LD ERS (1) AUM&A: Assets under management and advisement. See the Other Measures section at the beginning of this pre
Slide 11: Strong net asset value per share growth at GBL
Strong net asset value per share growth at GBL (1) €143.91 NAV per share 13% €22,501M €127.03 NAV per share €20,498M GBL Listed Private assets Sienna Net debt and GBL Net asset value investments Investment treasury shares Net asset value Dec 31, 2020 Managers Dec 31, 2021 P OWER C ORP ORATI ON OF C
Slide 12: We made significant headway in growing our alternative asset management businesses
We made significant headway in growing our alternative asset management businesses P OWER C ORP ORATI ON OF C ANAD A 2022 ANNU AL M EET ING O F S H AREH O LD ERS
Slide 13: Creating scale as asset managers
Creating scale as asset managers Assets under management(1) Power Corporation 3rd-party and associates P OWER C ORP ORATI ON OF C ANAD A 2022 ANNU AL M EET ING O F S H AREH O LD ERS (1) See the Other Measures section at the beginning of this presentation.
Slide 14: Sagard established its real estate capabilities
Sagard established its real estate capabilities $5.4B in assets under management (1) P OWER C ORP ORATI ON OF C ANAD A 2022 ANNU AL M EET ING O F S H AREH O LD ERS (1) See the Other Measures section at the beginning of this presentation.
Slide 15: GBL is building its private asset capabilities
GBL is building its private asset capabilities Recent acquisitions: P OWER C ORP ORATI ON OF C ANAD A 2022 ANNU AL M EET ING O F S H AREH O LD ERS
Slide 16: A leading Canadian fintech company
A leading Canadian fintech company 43% Power group ownership on a fully diluted basis, the largest shareholder $19.4B in assets under administration (1)(2) 1.7M clients (1) (1) As at March 31, 2022. P OWER C ORP ORATI ON OF C ANAD A 2022 ANNU AL M EET ING O F S H AREH O LD ERS (2) See the Other Meas
Slide 17: We generated $769M in pre-tax proceeds
We generated $769M in pre-tax proceeds Launch of the Sale of Power Sustainable LP interest in Energy Infrastructure Sagard Europe 3 Partnership Secondary offering Sale of interest P OWER C ORP ORATI ON OF C ANAD A 2022 ANNU AL M EET ING O F S H AREH O LD ERS
Slide 18: We continue to simplify our corporate structure
We continue to simplify our corporate structure Power group’s combined 27.8% equity ownership stake consolidated under IGM Sale by IGM of 15.2M Great-West Lifeco shares to Power Financial Portion of net cash proceeds to be returned to shareholders through Power share repurchases P OWER C ORP ORATI O
Slide 19: The quarterly dividend rate was increased by 10.6% in the fourth quarter of 2021
The quarterly dividend rate was increased by 10.6% in the fourth quarter of 2021 10.6% Quarterly dividends per share P OWER C ORP ORATI ON OF C ANAD A 2022 ANNU AL M EET ING O F S H AREH O LD ERS
Slide 20: $50M annual cost-reduction target achieved
$50M annual cost-reduction target achieved (1) (1) Pro-forma expenses, target run-rate operating expenses and expense reductions are on a constant-dollar, normalized basis and exclude impact of pandemic-related cost savings. Operating expenses are normalized to reflect charges P OWER C ORP ORATI ON
Slide 21: First quarter earnings
First quarter earnings Q1 2022 Q1 2021 Net earnings per share $0.71 $0.82 Net earnings (in millions) $478 $556 Adjusted net earnings per share(1) $0.76 $1.16 Adjusted net earnings(1) (in millions) $515 $786 P OWER C ORP ORATI ON OF C ANAD A 2022 ANNU AL M EET ING O F S H AREH O LD ERS (1) Non-IFRS f
Slide 22: Power Corporation of Canada Annual Meeting of Shareholders
POWER CORPORATION OF CANADA ANNUAL MEETING OF SHAREHOLDERS
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