Canada Life Commits $10 Billion to Canadian Infrastructure and Nation-Building Projects

Winnipeg, MB, September 16, 2026 – Canada Life today announced a commitment to invest $10 billion over the next five years in Canadian infrastructure and other nation-building projects that meets its return objectives. This plan reinforces Canada Life’s role as one of the country’s largest and longest-standing institutional investors.

The announcement comes as the Government of Canada hosts its inaugural Canada Investment Summit in Toronto, bringing together business leaders, institutional investors and policymakers to advance economic growth and help catalyse investment across the country.

For more than 175 years, Canada Life has helped Canadians build financial security while investing in the long-term strength of communities across the country. The company's commitment will support projects that strengthen Canada's economy, enhance competitiveness and create lasting value for Canadians.

"Canada has the talent, resources, institutions and entrepreneurial spirit needed to succeed in an increasingly competitive global economy," said Fabrice Morin, President and Chief Executive Officer, Canada Life, Canada.

Canada Life's commitment will focus on investments that support Canada's long-term economic development, including opportunities across infrastructure, power and utilities, transportation, digital infrastructure and other assets that contribute to a stronger and more resilient Canadian economy.

"As one of Canada's largest long-term investors, we have tremendous confidence in this country's future. This commitment reflects our belief that investing in infrastructure and productive assets today will help create stronger communities, support economic growth and deliver value for Canadians for decades to come."

Canada Life has a history of deploying capital to support essential infrastructure and productive assets across Canada. The company's ongoing investments include financing and investment activity across public and private markets directly and through its affiliated platforms including Power Sustainable, Sagard, and Northleaf, as well as investments made through its real estate and infrastructure platforms.

With more than 14 million customer relationships and over $350 Billion in total assets under administration as of June 30, 2026 in Canada, Canada Life remains committed to supporting the long-term prosperity of Canada and looking for opportunities to invest in the country's future.

About Canada Life

Canada Life is a leading insurance, wealth management and benefits provider focused on improving the financial, physical and mental well-being of Canadians. For over 175 years, individuals, families and business owners across Canada have trusted us to provide sound guidance and deliver on the promises we've made. We proudly serve more than 14 million customer relationships from coast to coast. Canada Life is a subsidiary of Great-West Lifeco.

Cautionary Note regarding Forward-Looking Information

This news release contains forward-looking statements within the meaning of applicable securities laws. Forward-looking information includes statements that are predictive in nature, depend upon or refer to future events or conditions, or include words such as "believe", "expect", "intend", "objective", "opportunity", "plan", "will" and other similar expressions or negative versions of those words. Forward-looking statements in this news release include statements relating to Canada Life’s commitment to invest $10 billion over the next five years in Canadian infrastructure and other nation-building projects that meet its return objectives, the sectors in which Canada Life expects to focus these investments, the expected impacts of these investments, and statements about future economic growth.

Forward-looking statements are based on expectations, forecasts, estimates, predictions, projections and conclusions about future events that were current at the time of the statements and are inherently subject to, among other things, risks, uncertainties and assumptions about Canada Life, economic factors and the financial services industry generally, including the insurance, wealth and retirement solutions industries. They are not guarantees of future performance, and actual events and results could differ materially from those expressed or implied by forward-looking statements. Many of these assumptions are based on factors and events that are not within the control of Canada Life and there is no assurance that they will prove to be correct. In all cases, whether or not actual results differ from forward-looking information may depend on numerous factors, developments and assumptions. In particular, Canada Life’s investment commitment and intended deployment of $10 billion over five years is subject to the availability of investment opportunities that meet Canada Life’s return objectives and other strategic objectives within the anticipated timeframe, Canada Life’s ability to execute and structure investments on desired terms, the financial condition of industry sectors and individual issuers, investment values, other strategic opportunities emerging, regulatory requirements and applicable laws and regulations, and other general economic, political and market conditions and factors in North America and internationally.

The above list is not exhaustive, and there may be other factors listed in Canada Life’s filings with securities regulators, including those set out in the "Risk Management" section of Canada Life’s 2025 annual Management’s Discussion & Analysis and in the “Risk Factors” section of the annual information form dated February 11, 2026 of Great-West Lifeco Inc., Canada Life’s parent company. These, along with other filings, are available for review at www.sedarplus.caOpens a new website in a new windowOpens a new website in a new window. The reader should consider these and other factors, uncertainties and potential events carefully and not place undue reliance on forward-looking information.

Other than as specifically required by applicable law, Canada Life does not intend to update any forward-looking information whether as a result of new information, future events or otherwise.

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