Power Corporation, Great West and IGM Financial Announce Joint Investment in Sagard AI Fund

About this update from Power Corporation Of Canada

MONTREAL and WINNIPEG, MB, May 20, 2026 /CNW/ - Power Corporation of Canada ("Power Corporation" or "Power"), Great‑West Lifeco Inc. ("Great West") and IGM Financial Inc. ("IGM"), today announced a combined US$150 million investment in the newly established Sagard AI Fund LP (the "Fund"). The Fund is a closed‑end investment vehicle focused on backing leading artificial intelligence ("AI") companies that are accelerating the adoption of AI across financial services and other key sectors globally. This investment forms part of a broader approach across the Power group to engage early and meaningfully with AI as a foundational technology— supporting long‑term growth, productivity gains, talent development, and enhanced client and advisor experiences. AI is increasingly expected to play a transformational role across insurance, wealth management, asset management, and retirement services. Through this investment, Power Corporation, Great West and IGM are strengthening their ability to remain informed and proactive as AI continues to evolve rapidly, while creating practical pathways to deploy AI‑driven solutions across their respective businesses. The Fund has been established to provide the Power group with: Leveraging Sagard's expertise investing in transformative companies globally, the Fund is designed to combine capital deployment with active engagement, providing the Power group with early exposure to innovative AI companies while supporting thoughtful and responsible integration of AI capabilities within their operating businesses. The Power group expects AI to meaningfully enhance decision‑making, operational efficiency, and the delivery of financial advice and solutions over time. ABOUT POWER CORPORATION Power Corporation ("Power", TSX: POW, TSX: POW.PR.E) is an international management and holding company that focuses on financial services in North America, Europe and Asia. Its core holdings are leading insurance, retirement, wealth management and investment businesses, including a portfolio of alternative asset investment platforms. To learn more, visit www.powercorporation.com. ABOUT GREAT WEST Great-West Lifeco Inc. ("Great West", TSX: GWO) is a financial services holding company focused on building stronger, more financially secure futures. We opera...

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