goeasy Ltd. Reports Results for the Fourth Quarter and Full Year 2025

goeasy Ltd. Reports Results for the Fourth Quarter and Full Year 2025 Canada NewsWire MISSISSAUGA, ON, March 31, 2026 Loan Portfolio of $5.51 billion at year-end, up 20% from $4.60 billion at prior year-end Revenue of $406 million in Q4/25, flat compared to $407 million in Q4/24 Net Charge Off Rate1 of 23.8% in Q4/25, up 1,460 bps from 9.2% in Q4/24 Diluted Loss Per Share of $20.49 in Q4/25, down from EPS of $3.12 in Q4/24 Adjusted Diluted Loss Per Share1 of $8.93 in Q4/25, down from Adj. Dil. EPS1 of $3.32 in Q4/24 MISSISSAUGA, ON, March 31, 2026 /CNW/ - goeasy Ltd. (TSX: GSY), ("goeasy" or the "Company"), one of Canada's leading consumer lenders focused on delivering a full suite of financial services to Canadians with non-prime credit scores, today reported results for the fourth quarter and full year ended December 31, 2025. Significant Developments in the Fourth Quarter Late-stage Loan Charge Offs at LendCare. In the fourth quarter of 2025, the Company recognized $177.9 million in incremental loan charge offs relating to the LendCare portfolio, which reflected the Company's assessment that all available efforts to drive substantive recoveries on certain late-stage delinquent loan receivables had been exhausted. Total net charge offs for the fourth quarter of 2025, as an annualized percentage of average gross consumer loans receivable, were 23.8%, up from 9.2% in the same period of 2024. Higher allowance for credit losses on gross consumer loans receivable. The net change in allowance for credit losses in the fourth quarter of 2025 was $71.9 million, compared to $41.4 million in the same period of 2024, an increase of $30.5 million. This increase was primarily driven by the adjustment in the rate of allowance for expected credit losses, which increased from 7.81% as at December 31, 2024 to 9.57% as at December 31, 2025, reflecting the Company's expectation of higher credit losses. Goodwill impairment. The Company recorded a $159.6 million goodwill impairment charge related to its LendCare business. Correction of prior period financial statements. Subsequent to year‑end, the Company identified errors in certain financial information for prior periods, including previously announced errors related to the accounting treatment of certain customer payments in transit at period‑end dates in 2024 and 2025, which has caused the Company to restate its financial information as at and for those prior periods. All 2024 financial information included in this press release reflects such restatement. For more information, see the MD&A sections entitled "Restatement of Prior Period Financial Information" and "Restatement Impact on Interim Financial Information" and Note 2 to the consolidated financial statements. All 2024 financial information included in the Company's 2025 consolidated financial statements supersedes the corresponding information previously included in the Company's 2024 consolidated financial statements.  Such superseded information should no longer be relied upon. All financial information for the periods ending March 31, June 30 and September 30, 2024 and 2025 included in the MD&A section entitled "Restatement Impact on Interim Financial Information" supersedes the corresponding information previously included in the Company's previously filed financial statements for such interim periods. Such superseded information should no longer be relied upon. "Our belief in goeasy's long-term opportunity is unchanged," said Patrick Ens, goeasy's Chief Executive Officer. "We are committed to taking decisive action, through a focused six-point plan, to deliver strong financial performance anchored in the strength of our direct-to-consumer business." Fourth Quarter Results During the quarter, the Company generated $951.5 million in loan originations, up 17% compared to $813.7 million generated in the fourth quarter of 2024. The increase in lending was driven by a robust volume of applications for credit. Growth in the loan portfolio was $68.4 million for the period. At quarter end, the consumer loan portfolio was $5.51 billion, up 20% from $4.60 billion in the fourth quarter of 2024. Total annualized yield (including ancillary products) realized on average consumer loans receivable1 was 26.6% in the quarter, down 600 bps from the same period in 2024. The decrease in yield, almost entirely offset by growth in consumer loans, led to flat revenue, which was $406.3 million, compared to $407.0 million in the fourth quarter of 2024.  During the quarter, the annualized net charge off rate was 23.8%, up approximately 1,460 bps from 9.2% in the fourth quarter of 2024, due to the $331.1 million of net charge offs in the quarter, inclusive of $177.9 million of incremental charge offs attributable to the LendCare business. The rate of allowance for expected credit losses increased from 7.81% as at December 31, 2024 to 9.57% as at December 31, 2025, reflecting the Company's expectation of higher credit losses. Operating loss for the fourth quarter of 2025 was $283.3 million, down from operating income of $138.3 million in the fourth quarter of 2024. After adjusting for unusual and non-recurring items, the Company reported an adjusted operating loss2 of $120.1 million, a decrease from adjusted operating income2 of $141.7 million in the fourth quarter of 2024. The efficiency ratio1 for the fourth quarter of 2025 was 25.0%, a slight decrease from 24.8% in the fourth quarter of 2024. Net loss for the fourth quarter of 2025 was $336.9 million, down from net income of $54.2 million in the same period of 2024, and diluted loss per share was $20.49, down from diluted earnings per share of $3.12 reported in the fourth quarter of 2024. Adjusted net loss2 for the fourth quarter of 2025 was $146.9 million, down from adjusted net income2 of $57.7 million in the fourth quarter of 2024. Adjusted diluted loss per share1 was $8.93, down from adjusted diluted earnings per share of $3.32 in the fourth quarter of 2024. Full-Year Results For the full year 2025, the Company funded $3.48 billion in loan originations, up 10% from $3.17 billion in the same period of 2024. The gross consumer loans receivable portfolio increased to $5.51 billion, up 20% from $4.60 billion as of December 31, 2024. For the full year 2025, the Company produced revenues of $1.70 billion, up 11% compared to $1.53 billion in 2024. Operating income for the year was $188.3 million, compared with $584.0 million in 2024. Adjusted operating income2 for 2025 was $361.8 million, compared to $602.5 million in 2024. Efficiency ratio1 for the year was 24.9%, an improvement of 70 bps from 25.6% in 2024. Net loss for the year was $178.4 million, and diluted loss per share was $10.78, compared with earnings of $264.2 million or $15.21 per share in 2024. Adjusted net income2 for 2025 was $50.1 million, and adjusted diluted earnings per share1 was $3.03, compared with $271.3 million or $15.62 per share for 2024. Reported return on equity was negative 16.0% for 2025, while adjusted return on equity1 was 4.5% for 2025, down from 23.9% in 2024. Balance Sheet and Liquidity Total assets were $5.76 billion as of December 31, 2025, an increase of 11% from $5.21 billion as of December 31, 2024, primarily driven by growth in consumer loans receivable. Cash provided by operations before net principal written2 in the fourth quarter of 2025 was $537.9 million, compared to $584.9 million in the fourth quarter of 2024. For full year 2025, cash provided by operations before net principal written2 was $2.06 billion compared to $1.93 billion for 2024. The Company's debt-to-adjusted tangible equity ratio3, a capital management measure for leverage, was 4.81x as of December 31, 2025. The average blended coupon interest rate for the Company's debt as at December 31, 2025 was 6.6%. The Company intends to repay the US$64.6 million senior unsecured notes maturing on May 1, 2026 from existing liquidity. Based on its $240 million of cash on hand and $927 million aggregate amounts drawn as of February 28, 2026, the Company has liquidity (cash on hand plus unused contractual borrowing capacity) of up to $983 million (of which $743 million is not expected to be available until July 1, 2026). Recent Developments Amended Financing Arrangements On March 24, 2026, the Company announced that it had entered into definitive agreements (the "Definitive Agreements") with the lenders and other counterparties under its syndicated revolving credit facility, consumer securitization warehouse facility and secured borrowing facility (collectively, the "Facilities"). The Definitive Agreements provide that the Facilities may remain outstanding and that the revolving credit facility and consumer securitization warehouse facility will remain available to provide funding to the Company, waive compliance with certain financial covenants in respect of the fourth quarter of 2025, and give effect to certain other amendments  (including amending the financial covenants to take into account certain charge‑offs, write‑downs and other items expected to adversely impact the Company's fourth quarter 2025 results). As a result of executing the Definitive Agreements, the Company was in compliance with all financial and other covenants under the Facilities as of December 31, 2025 and as of the date hereof. As previously announced, key terms of the amendments include: (i) capacity under the syndicated revolving credit facility remains $550 million, provided that availability will be subject to a borrowing-base test, certain advance rates, and eligibility requirements that exclude loan receivables originated at LendCare, and may not exceed $440 million without lender consent, with the maturity of July 2027 unchanged, and pricing on advances was increased to Adjusted 1‑Month Term CORRA plus 325 bps; and (ii) the consumer securitization warehouse facility size was reduced from $1.4 billion to $1.12 billion, with revised eligibility criteria excluding loan receivables originated at LendCare, with the maturity of October 30, 2026 unchanged, and pricing on advances increased to Adjusted Daily Compounded CORRA plus 310 bps. The Company remains in compliance with all covenants under its senior unsecured notes. Delivering Cost Efficiencies On March 12, 2026, goeasy implemented a reduction in force that impacted approximately 9% of its employees. The reduction is expected to yield approximately $30 million in annualized run-rate savings. 2026 Outlook The Company is focused on executing a disciplined reset of its operating model in 2026, including prudent management of liquidity, strengthening of credit performance, and alignment of its capital structure. This transitional period is intended to return the Company to its long track record of delivering a high return on equity and earnings that will reinforce confidence among shareholders and other stakeholders. Q1 2026 Outlook Full year 2026 Commentary Gross consumer loans receivable at period end $5.3 to $5.4 billion Expected to decline before resuming growth in the second half of the year Total yield on consumer loans (including ancillary products)1 27.0% to 28.0% Expected to improve over course of the year as charge offs decline Net charge offs as a percentage of average gross consumer loans receivable1 17.5% to 18.5% Expected to decrease from 23.8% in the fourth quarter of 2025 to the mid-teens for full year 2026; improvement is expected as the year progresses This outlook is subject to and based on the assumptions and risks set out in more detail under "Forward-Looking Statements". Leadership Transitions On December 2, 2025, the Company announced that Dan Rees would step down as Chief Executive Officer, effective December 31, 2025, due to due to a blood disorder that required him to resign from his position. The Board of Directors appointed Patrick Ens, then President of easyfinancial, as the Company's next Chief Executive Officer effective January 1, 2026. On September 30, 2025, goeasy announced that Felix Wu had been appointed as the Interim Chief Financial Officer (CFO). Mr. Wu assumed responsibilities as the Interim CFO on November 6, 2025 with a mandate that included oversight of reporting for year-end and for the first quarter of 2026. On March 10, 2026, the Company announced that Mr. Wu had been permanently appointed as Chief Financial Officer, with immediate effect. Share Repurchases and Dividend Payments In consideration of recent developments that affected earnings in 2025, the Board of Directors made the decision to suspend the regular quarterly dividend on the Company's Common Shares and to suspend share repurchases under its normal course issuer bid on an indefinite basis. These actions are aligned with management's focus on prudently preserving capital and maintaining liquidity. Adoption of Advance Notice By-Law The Company also announced today that its board of directors has approved the adoption of an advance notice by-law (the "Advance Notice By-Law"). The Advance Notice By-Law is consistent with advance notice by-laws adopted by many other Canadian public companies and is intended to: (i) ensure that all shareholders receive adequate notice and sufficient information regarding director nominees to make informed voting decisions and (ii) facilitate an orderly and efficient process for the election of directors. Among other things, the Advance Notice By-Law fixes certain deadlines by which shareholders must submit a notice of director nominations to the Company prior to any annual or special meeting of shareholders where directors are to be elected and sets forth the information that a shareholder must include in the notice for it to be valid. The Advance Notice By-Law is effective immediately and will be placed before shareholders for approval, ratification and confirmation at the Company's upcoming annual and special meeting of shareholders to be held on May 20, 2026. In the event that the Advance Notice By-Law is not so approved, ratified and confirmed, it shall terminate and be of no further force or effect. The full text of the Advance Notice By-Law is available under the Company's profile on SEDAR+ at sedarplus.ca. Forward-Looking Statements This press release includes forward-looking statements about goeasy, including, but not limited to, its business operations, strategy and expected financial performance and condition. Forward-looking statements include, but are not limited to, statements with respect to forecasts for growth of the consumer loans receivable, annual revenue growth forecasts, strategic initiatives, new product offerings and new delivery channels, anticipated cost savings, planned capital expenditures, anticipated capital requirements and the Company's ability to secure sufficient capital, liquidity of the Company, plans and references to future operations and results, critical accounting estimates, expected future yields and net charge off rates on loans, the dealer relationships,  the size and characteristics of the Canadian non-prime lending market, the continued development of the type and size of competitors in the market, the potential approval, ratification and confirmation of the Advance Notice By-Law. In certain cases, forward-looking statements that are predictive in nature, depend upon or refer to future events or conditions, and/or can be identified by the use of words such as "expect", "continue", "anticipate", "intend", "aim", "plan", "believe", "budget", "estimate", "forecast", "foresee", "target" or negative versions thereof and similar expressions, and/or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements are based on certain factors and assumptions, including expected growth, results of operations and business prospects and are inherently subject to, among other things, risks, uncertainties and assumptions about the Company's operations, economic factors and the industry generally. There can be no assurance that forward-looking statements will prove to be accurate as actual results and future events could differ materially from those expressed or implied by forward-looking statements made by the Company. Some important factors that could cause actual results to differ materially from those expressed in the forward-looking statements include, but are not limited to, goeasy's ability to enter into new lease and/or financing agreements, collect on existing lease and/or financing agreements, open new locations on favourable terms, offer products which appeal to customers at a competitive rate, respond to changes in legislation, react to uncertainties related to regulatory action, raise capital under favourable terms, compete, manage the impact of litigation (including shareholder litigation), control costs at all levels of the organization and maintain and enhance the system of internal controls. The Company cautions that the foregoing list is not exhaustive. These and other factors could cause actual results to differ materially from our expectations expressed in the forward-looking statements, and further details and descriptions of these and other factors are disclosed in the Company's Management's Discussion and Analysis ("MD&A") for the year ended December 31, 2025, including under the section entitled "Risk Factors". The reader is cautioned to consider these, and other factors carefully and not to place undue reliance on forward-looking statements, which may not be appropriate for other purposes. The Company is under no obligation (and expressly disclaims any such obligation) to update or alter the forward-looking statements whether as a result of new information, future events or otherwise, unless required by law.  The Company particularly cautions that the Q1 2026 outlook and full year 2026 commentary presented above under the heading "2026 Outlook" (the "2026 Outlook Information") constitutes forward-looking information and that in formulating its outlook, the Company makes a series of assumptions, which include, but are not limited to, assumptions about Environmental Conditions (Stability in the macroeconomic environment; Continued demand for non-prime credit across);  Portfolio Growth (Loan originations adjust as underwriting criteria are tightened, particularly within indirect channels); Liquidity & Funding (The Company prioritizes liquidity and covenant compliance; Continued access to funding at acceptable rates; Continued strong free cash flow from its existing portfolio); Revenue Yield (Portfolio yield expected to be negatively impacted by bad debts on interest receivable; Business mix shift to include more unsecured personal loan originations at higher yields; Total portfolio yield and net charge off as a percentage of gross consumer loans receivable on its lending products are as estimated in the Company's budget and strategic plan); Credit Performance (Net charge offs as a percentage of gross consumer loans receivable perform in line with the Company' budget and forecasts generated through the use of its proprietary credit and underwriting models; The mixture of customers acquired through each of the Company's acquisition channels and the mixture of new and existing borrowers are as estimated in the Company's forecast); Investment Performance (No material changes are assumed in the fair value of investments, and no forecast is made regarding the timing of realization of the investment portfolio); and Mergers and Acquisitions (No mergers or acquisitions are contemplated within the outlook period). These assumptions and expectations are subject to a number of risks, including the following, as well as those set out the section entitled "Risk Factors" in the Company's MD&A:  Environmental & Market Conditions (Uncertainty in consumer demand or broader economic conditions may adversely impact loan originations and portfolio performance; Deterioration in employment levels or economic stability could negatively affect credit performance and increase net charge off rates; Competitive dynamics or pricing pressures may impact margins and growth); Access to Capital & Funding (The Company's ability to access capital on acceptable terms and maintain adequate liquidity to support operations and strategic priorities); Regulatory Environment (Changes to laws and regulations governing consumer lending that could impact product offerings, pricing or operations); Credit Performance (A material increase in net charge off as a percentage of gross consumer loans receivable beyond expectations, including adverse performance from prior vintages or new originations); and Operating Execution (The Company's ability to successfully execute on its Action Plan, including underwriting changes, and operating model alignment and platform consolidation; Risks associated with transitioning originations and customer portfolios toward the easyfinancial platform).  The 2026 Outlook Information constitutes targets established by the Company and is subject to change as plans and business conditions vary. Accordingly, investors are cautioned not to place undue reliance on the 2026 Outlook Information. Actual results may differ materially. About goeasy goeasy Ltd. is a leading Canadian provider of non-prime consumer lending solutions, offering a suite of financial products through its easyfinancial, easyhome, and LendCare brands. goeasy offers unsecured and secured instalment loans, point-of-sale financing, and lease-to-own merchandise through its omni-channel model, which spans online, mobile, and hundreds of locations nationwide. Driven by its team members' dedication to expand access to credit for underserved communities and helping customers strengthen their financial futures, goeasy has proudly served more than 1.6 million customers while building an award-winning culture. Shares of goeasy Ltd. are listed on the Toronto Stock Exchange (TSX) under the symbol GSY. For more information, visit www.goeasy.com. For investor inquiries, contact: James Obright Senior Vice President, Investor Relations & Capital Markets [email protected] For media inquiries, contact: [email protected] Notes: 1 These are non-IFRS ratios. Refer to "Non-IFRS Measures and Other Financial Measures" section in this press release. 2 These are non-IFRS measures. Refer to "Non-IFRS Measures and Other Financial Measures" section in this press release. 3 These are capital management measures. Refer to "Non-IFRS Measures and Other Financial Measures" section in this press release. goeasy Ltd. CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (Expressed in thousands of Canadian dollars) As At As At December 31, December 31, 2025 2024 Restated ASSETS  Cash  152,661 247,544 Accounts receivable  42,361 42,491 Prepaid expenses 9,159 9,488 Income taxes recoverable 90,559 - Consumer loans receivable, net  5,155,360 4,371,347 Investments  29,103 41,918 Lease assets, net  36,656 40,973 Derivative financial assets  11,146 60,675 Deferred income tax assets  22,250 15,471 Property and equipment, net  30,788 35,004 Right-of-use assets, net  52,510 54,224 Intangible assets, net  104,142 110,979 Goodwill  21,310 180,923 TOTAL ASSETS 5,758,005 5,211,037 LIABILITIES AND SHAREHOLDERS' EQUITY Liabilities Revolving credit facility  175,052 21,797 Accounts payable and other liabilities 107,842 183,624 Income taxes payable - 22,233 Dividends payable  23,398 19,519 Unearned revenue 31,219 25,864 Accrued interest payable 68,533 49,003 Deferred income tax liabilities  5,367 15,181 Lease liabilities  59,451 62,164 Secured borrowings  88,783 120,335 Revolving securitization warehouse facilities  611,015 1,073,876 Derivative financial liabilities 46,107 21,466 Notes payable  3,690,818 2,413,795 TOTAL LIABILITIES 4,907,585 4,028,857 Shareholders' equity Share capital  430,325 438,302 Contributed surplus  26,782 26,942 Accumulated other comprehensive loss (13,367) (56,938) Retained earnings 406,680 773,874 TOTAL SHAREHOLDERS' EQUITY 850,420 1,182,180 TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY 5,758,005 5,211,037   goeasy Ltd. CONSOLIDATED STATEMENTS OF INCOME (LOSS) (Expressed in thousands of Canadian dollars, except earnings (loss) per share) Year Ended December 31, December 31, 2025 2024 Restated REVENUE Interest income 1,278,177 1,133,406 Lease revenue 86,171 95,407 Commissions earned 306,030 275,726 Charges and fees 26,411 30,334 1,696,789 1,534,873 OPERATING EXPENSES BAD DEBTS  883,789 505,039 OTHER OPERATING EXPENSES Salaries and benefits 205,660 201,791 Share-based compensation  8,195 13,534 Technology costs 47,500 38,088 Underwriting and collections 35,458 21,251 Advertising and promotion 31,742 32,979 Occupancy 21,818 20,632 Other expenses 32,546 33,698 382,919 361,973 DEPRECIATION AND AMORTIZATION Depreciation of lease assets  27,767 29,482 Amortization of intangible assets  22,540 22,788 Depreciation of right-of-use assets  21,270 21,349 Depreciation of property and equipment  10,599 10,276 82,176 83,895 IMPAIRMENT OF GOODWILL  159,613 - TOTAL OPERATING EXPENSES 1,508,497 950,907 OPERATING INCOME 188,292 583,966 OTHER INCOME (LOSS)  (12,815) 3,132 FINANCE COSTS  (356,397) (225,492) INCOME (LOSS) BEFORE INCOME TAXES (180,920) 361,606 INCOME TAX EXPENSE (RECOVERY)  Current 26,442 111,036 Deferred (28,992) (13,657) (2,550) 97,379 NET INCOME (LOSS)  (178,370) 264,227 BASIC EARNINGS (LOSS) PER SHARE  (10.78) 15.46 DILUTED EARNINGS (LOSS) PER SHARE  (10.78) 15.21   SUMMARY OF FINANCIAL RESULTS BY REPORTABLE SEGMENT (Expressed in thousands of Canadian dollars, except earnings per share) Three Months Ended December 31, 2025 easyfinancial easyhome Corporate Total Revenue Interest income 286,077 12,651 - 298,728 Lease revenue - 20,857 - 20,857 Commissions earned 80,556 4,294 - 84,850 Charges and fees 1,116 761 - 1,877 367,749 38,563 - 406,312 Operating expenses  Bad debts 410,565 7,945 - 418,510 Other operating expenses 64,105 12,614 14,298 91,017 Depreciation and amortization 9,978 8,912 1,611 20,501 Impairment of Goodwill 159,613 159,613 644,261 29,471 15,909 689,641 Operating income (loss) (276,512) 9,092 (15,909) (283,329) Other loss (11,015) Finance costs (104,946) Loss before income taxes (399,290) Income taxes (62,346) Net loss (336,944) Diluted loss per share (20.49) Three Months Ended December 31, 2024 (As Restated) easyfinancial easyhome Corporate Total Revenue Interest income 295,965 10,213 - 306,178 Lease revenue - 23,213 - 23,213 Commissions earned 67,498 3,594 - 71,092 Charges and fees 5,696 821 - 6,517 369,159 37,841 - 407,000 Operating expenses  Bad debts 152,902 4,644 - 157,546 Other operating expenses 59,413 13,499 17,443 90,355 Depreciation and amortization 9,408 9,697 1,692 20,797 221,723 27,840 19,135 268,698 Operating income (loss) 147,436 10,001 (19,135) 138,302 Other income 6,105 Finance costs (71,645) Income before income taxes 72,762 Income taxes 18,601 Net income  54,161 Diluted earnings per share 3.12 Year Ended December 31, 2025 easyfinancial easyhome Corporate Total Revenue Interest income 1,232,334 45,843 - 1,278,177 Lease revenue - 86,171 - 86,171 Commissions earned 290,376 15,654 - 306,030 Charges and fees 23,470 2,941 - 26,411 1,546,180 150,609 - 1,696,789 Operating expenses  Bad debts 859,241 24,548 - 883,789 Other operating expenses 255,139 52,945 74,835 382,919 Depreciation and amortization 39,621 35,940 6,615 82,176 Impairment of Goodwill 159,613 - - 159,613 1,313,614 113,433 81,450 1,508,497 Operating income (loss) 232,566 37,176 (81,450) 188,292 Other loss (12,815) Finance costs (356,397) Loss before income taxes (180,920) Income taxes (2,550) Net loss (178,370) Diluted loss per share (10.78) Year Ended December 31, 2024 (As Restated) easyfinancial easyhome Corporate Total Revenue Interest income 1,093,427 39,979 - 1,133,406 Lease revenue - 95,407 - 95,407 Commissions earned 261,630 14,096 - 275,726 Charges and fees 26,941 3,393 - 30,334 1,381,998 152,875 - 1,534,873 Operating expenses  Bad debts 489,833 15,206 - 505,039 Other operating expenses 212,451 54,987 94,535 361,973 Depreciation and amortization 38,995 38,096 6,804 83,895 741,279 108,289 101,339 950,907 Operating income (loss) 640,719 44,586 (101,339) 583,966 Other loss 3,132 Finance costs (225,492) Income before income taxes 361,606 Income taxes 97,379 Net income  264,227 Diluted earnings per share 15.21 SUMMARY OF FINANCIAL RESULTS AND KEY PERFORMANCE INDICATORS Three Months Ended ($ in 000's except earnings per share and percentages) December 31, 2025 December 31, 2024 (As restated) Variance $ / bps Variance % Change Summary Financial Results Revenue 406,312 407,000 (688) (0.2 %) Bad debts 418,510 157,564 260,964 165.6 % Other operating expenses 250,630 90,355 160,275 177.4 % EBITDA1 (121,110) 157,581 (278,691) (176.9 %) EBITDA margin1 (29.8 %) 38.7 % (6,850 bps) (177.0 %) Depreciation and amortization 20,501 20,797 (296) (1.4 %) Impairment of goodwill 159,613 - 159,613 100.0 % Operating income (loss) (283,329) 138,302 (421,631) (304.9 %) Operating margin (69.7 %) 34.0 % (10,370 bps) (305.0 %) Other income (loss) (11,015) 6,105 (17,120) (280.4 %) Finance costs 104,946 71,645 33,301 46.5 % Effective income tax rate 15.6 % 25.6 % (1,000 bps) (39.1 %) Net income (loss) (336,944) 54,161 (391,105) (722.1 %) Diluted earnings (loss) per share (20.49) 3.12 (23.61) (756.7 %) Return on receivables (24.3 %) 4.8 % (2,910 bps) (606.3 %) Return on assets (22.5 %) 4.3 % (2,680 bps) (623.3 %) Return on equity (130.7 %) 18.2 % (14,890 bps) (818.1 %) Return on tangible common equity1 (79.8 %) 24.0 % (10,380 bps) (432.5 %) Adjusted Financial Results1 Other operating expenses 97,508 97,885 (377) (0.4 %) Efficiency ratio 25.0 % 24.8 % (20 bps) (0.4 %) Operating income (loss) (120,052) 141,669 (261,721) (184.7 %) Operating margin (29.5 %) 34.8 % (6,430 bps) (184.8 %) Net income (loss) (146,868) 57,735 (204,603) (354.4 %) Diluted earnings (loss) per share (8.93) 3.32 (12.25) (369.0 %) Return on receivables (10.6 %) 5.1 % (1,570 bps) (307.8 %) Return on assets (9.8 %) 4.6 % (1,440 bps) (313.0 %) Return on equity (57.0 %) 19.4 % (7,640 bps) (393.8 %) Return on tangible common equity (67.0 %) 24.4 % (9,140 bps) (374.6 %) Key Performance Indicators Segment Financials easyfinancial revenue 367,749 369,159 (1,410) (0.4 %) easyfinancial operating margin (77.1 %) 39.9 % (11,510 bps) (288.5 %) easyhome revenue 38,563 37,841 722 1.9 % easyhome operating margin 23.6 % 26.4 % (280 bps) (10.6 %) Portfolio Indicators Gross consumer loans receivable 5,513,467 4,602,437 911,030 19.8 % Growth in consumer loans receivable 68,485 208,750 (140,265) (67.2 %) Gross loan originations 951,535 813,689 137,846 16.9 % Total yield on consumer loans (including ancillary products)1 26.6 % 32.6 % (600 bps) (18.4 %) Net charge offs as a percentage of average gross consumer loans receivable1 23.8 % 9.2 % (1,460 bps) 158.7 % Cash provided by operations before net principal written1 537,881 584,851 (46,970) (8.0 %) Potential monthly leasing revenue1 6,197 6,875 (678) (9.9 %)   Year Ended ($ in 000's except earnings per share and percentages) December 31, 2025 December 31, 2024 (As restated) Variance $ / bps Variance % Change Summary Financial Results Revenue 1,696,789 1,534,873 161,916 10.5 % Bad debts 883,789 505,039 378,750 75.0 % Other operating expenses 382,919 361,973 20,946 5.8 % EBITDA1 389,499 641,511 (252,012) (39.3 %) EBITDA margin1 23.0 % 41.8 % (1,880 bps) (45.0 %) Depreciation and amortization 82,176 83,895 (1,719) (2.0 %) Impairment of goodwill 159,613 - 159,613 100.0 % Operating income 188,292 583,966 (395,674) (67.8 %) Operating margin 11.1 % 38.0 % (2,690 bps) (70.8 %) Other income (loss) (12,815) 3,132 (15,947) (509.2 %) Finance costs 356,397 225,492 130,905 58.1 % Effective income tax rate 1.4 % 26.9 % (2,550 bps) (94.8 %) Net income (loss) (178,370) 264,227 (442,597) (167.5 %) Diluted earnings (loss) per share (10.78) 15.21 (25.99) (170.9 %) Return on receivables (3.5 %) 6.3 % (980 bps) (155.6 %) Return on assets (3.2 %) 5.7 % (890 bps) (156.1 %) Return on equity (16.0 %) 23.3 % (3,930 bps) (168.7 %) Return on tangible common equity1 (1.0 %) 30.7 % (3,170 bps) (103.3 %) Adjusted Financial Results1 Other operating expenses 409,846 386,017 23,829 6.2 % Efficiency ratio 24.9 % 25.6 % (70 bps) (2.7 %) Operating income 361,844 602,504 (240,660) (39.9 %) Operating margin 21.3 % 39.3 % (1,800 bps) (45.8 %) Net income 50,097 271,258 (221,161) (81.5 %) Diluted earnings per share 3.03 15.62 (12.59) (80.6 %) Return on receivables 1.0 % 6.5 % (550 bps) (84.6 %) Return on assets 0.9 % 5.8 % (490 bps) (84.5 %) Return on equity 4.5 % 23.9 % (1,940 bps) (81.2 %) Return on tangible common equity 5.5 % 30.5 % (2,500 bps) (82.3 %) Key Performance Indicators Segment Financials easyfinancial revenue 1,546,180 1,381,998 164,182 11.9 % easyfinancial operating margin 15.0 % 46.4 % (3,140 bps) (67.7 %) easyhome revenue 150,609 152,875 (2,266) (1.5 %) easyhome operating margin 24.7 % 29.2 % (450 bps) (15.4 %) Portfolio Indicators Gross consumer loans receivable 5,513,467 4,602,437 911,030 19.8 % Growth in consumer loans receivable 911,030 957,235 (46,205) (4.8 %) Gross loan originations 3,477,753 3,166,227 311,526 9.8 % Total yield on consumer loans (including ancillary products)1 30.2 % 33.7 % (350 bps) (10.4 %) Net charge offs as a percentage of average gross consumer loans receivable1 12.9 % 9.2 % (370 bps) (40.2 %) Cash provided by operations before net principal written1 2,060,707 1,926,180 134,527 7.0 % Potential monthly leasing revenue1 6,197 6,875 (678) (9.9 %) 1 EBITDA, adjusted other operating expenses, adjusted operating income, adjusted net income and cash provided by operations before net principal written are non-IFRS measures. EBITDA margin, efficiency ratio, adjusted operating margin, adjusted diluted earnings per share, adjusted return on equity, adjusted return on receivable, adjusted return on assets, reported and adjusted return on tangible common equity, net charge offs as a percentage of average gross consumer loans receivable and total yield on consumer loans (including ancillary products) are non-IFRS ratios. Refer to "Non-IFRS Measures and Other Financial Measures" section in this press release. Non-IFRS Measures and Other Financial Measures The Company uses a number of financial measures to assess its performance. Some of these measures are not calculated in accordance with International Financial Reporting Standards (IFRS) as issued by International Accounting Standards Board (IASB), are not identified by IFRS and do not have standardized meanings that would ensure consistency and comparability among companies using these measures. The Company believes that non-IFRS measures are useful in assessing ongoing business performance and provide readers with a better understanding of how management assesses performance. These non-IFRS measures are used throughout this press release and listed below. An explanation of the composition of non-IFRS measures and other financial measures can be found in the Company's MD&A, available on www.sedarplus.ca. Adjusted Net Income (Loss) and Adjusted Diluted Earnings (Loss) Per Share Adjusted net income is a non-IFRS measure and adjusted diluted earnings per share is a non-IFRS ratio. Refer to "Key Performance Indicators and Non-IFRS Measures" section on page 51 of the Company's MD&A for the year ended December 31, 2025. Items used to calculate adjusted net income (loss) and adjusted earnings (loss) per share for the three-month periods and years ended December 31, 2025 and 2024 include those indicated in the chart below: Three Months Ended Year Ended ($ in 000's except earnings per share) December 31, 2025 December 31, 2024 (As restated) December 31, 2025 December 31, 2024 (As restated) Net income (loss) (336,944) 54,161 (178,370) 264,227 Impact of adjusting items Other operating expenses Integration costs1 389 92 839 497 Advisory costs3 - - - 4,941 Depreciation and amortization Amortization of acquired intangible assets2 3,275 3,275 13,100 13,100 Impairment of goodwill4 159,613 - 159,613 - Other loss (income)5 11,015 (6,105) 12,815 (3,132) Finance costs Finance costs related to the repayment of the Revolving Securitization Warehouse Facility II6 5,067 - 5,067 - Refinancing costs related to Notes Payable7 - 9,429 - 9,429 Discount on the repurchase of Notes Payable7 - (1,487) - (1,487) Fair value change on prepayment options related to Notes Payable8 19,715 761 59,547 (13,216) Total pre-tax impact of adjusting items 199,074 5,965 250,981 10,132 Income tax impact of above     adjusting items (8,998) (2,391) (22,514) (3,101) After-tax impact of adjusting items 190,076 3,574 228,467 7,031 Adjusted net income (loss) (146,868) 57,735 50,097 271,258 Weighted average number of diluted shares outstanding 16,445 17,383 16,540 17,366 Diluted earnings (loss) per share (20.49) 3.12 (10.78) 15.22 Per share impact of adjusting items 11.56 0.20 13.81 0.40 Adjusted diluted earnings (loss) per share (8.93) 3.32 3.03 15.62 Adjusting items related to the LendCare acquisition 1 Integration costs related to representation and warranty insurance costs, and other integration costs related to the acquisition of LendCare. 2 Amortization of the $131 million intangible asset related to the acquisition of LendCare, with an estimated useful life of ten years. Adjusting items related to the advisory costs 3 Advisory costs for the three-month period and year ended December 31, 2024, were related to non-recurring advisory, consulting, and legal costs. Adjusting items related to the impairment of goodwill 4 In the three-month period ended December 2025, the Company's goodwill related to the LendCare operating segment was fully impaired. Adjusting item related to other income (loss) 5 For the three-month periods and years ended December 31, 2025, and 2024, net investment income (loss) was due to fair value changes in the Company's investments. Adjusting item related to the repayment of Revolving Securitization Warehouse Facility II 6 In December 2025, the Company repaid all of its outstanding drawn amounts from the Revolving Securitization Warehouse Facility II and repurchased the total consumer loans pledged as collateral.  In addition, the Company de-designated interest rate swap as cash flow hedges and immediately unwound them. As a result of repaying this facility and unwinding the interest rate swap, the Company has written off the $1.0 million remaining unamortized deferred financing costs and reclassified the net change in cash flow hedge from OCI to the consolidated statements of income, resulting in a $4.1 million derivative loss. Adjusting item related to the refinancing of Notes Payable 7 In the fourth quarter of 2024, the Company the Company extinguished a total of US$255.4 million of 2026 Notes that were validly tendered and accepted for repurchase at a price of US$999.58 per US$1,000 principal amount, resulting in a $1.5 million discount.  As a result of repurchasing these notes and the unwinding of the related cross-currency swaps, the Company incurred tender offer fees, recognized the remaining unamortized deferred financing costs related to these notes, realized derivative loss, and reclassified the net change in cash flow hedge from OCI to the consolidated statements of income resulting in a total refinancing cost of $9.4 million. Adjusting item related to prepayment options embedded in the Notes Payable 8 For the three-month periods and years ended December 31, 2025, and 2024, the Company recognized a fair value change on the prepayment options related to Notes Payable. Adjusted Other Operating Expenses and Efficiency Ratio Adjusted other operating expenses is a non-IFRS measure and efficiency ratio is a non-IFRS ratio. Refer to "Key Performance Indicators and Non-IFRS Measures" section on page 51 of the Company's MD&A for the year ended December 31, 2025. Items used to calculate adjusted other operating expenses and efficiency ratio for the three-month periods and years ended December 31, 2025 and 2024 include those indicated in the chart below: Three Months Ended Year Ended ($ in 000's except percentages) December 31, 2025 December 31, 2024 (As restated) December 31, 2025 December 31, 2024 (As restated) Other operating expenses as stated 689,641 268,698 1,508,496 950,907 Impact of adjusting items1 Other operating expenses Integration costs (389) (92) (839) (497) Advisory costs - - - 4,941 Depreciation and amortization Depreciation of lease assets 6,880 7,622 27,767 29,482 Total impact of adjusting items 6,491 7,530 26,928 33,926 Adjusted other operating expenses 97,508 97,885 409,846 386,017 Total revenue 406,312 407,000 1,696,789 1,534,873 Less: Bad debts on interest receivable (15,507) (12,217) (51,903) (27,508) 390,805 394,783 1,644,886 1,507,365 Efficiency ratio 25.0 % 24.8 % 24.9 % 25.6 % 1 For explanation of adjusting items, refer to the corresponding "Adjusted Net Income and Adjusted Diluted Earnings Per Share" section. Adjusted Operating Margin Adjusted operating margin is a non-IFRS measure and adjusted operating margin is a non-IFRS ratio. Refer to "Key Performance Indicators and Non-IFRS Measures" section on page 51 of the Company's MD&A for the year ended December 31, 2025. Items used to calculate adjusted operating income (loss) and adjusted operating margins for the three-month periods and years ended December 31, 2025 and 2024 include those indicated in the chart below: Three Months Ended ($ in 000's except percentages) December 31, 2025 December 31, 2025 (adjusted) December 31, 2024 (As restated) December 31, 2024 (adjusted) (As restated) easyfinancial Operating income (loss) (276,512) (276,512) 147,436 147,436 Divided by revenue 367,749 367,749 369,159 369,159 easyfinancial operating margin (75.2 %) (75.2 %) 39.90 % 39.90 % easyhome Operating income 9,092 9,092 10,001 10,001 Divided by revenue 38,563 38,563 37,841 37,841 easyhome operating margin 23.6 % 23.6 % 26.4 % 26.4 % Total Operating income (loss) (283,329) (283,329) 138,302 138,302 Other operating expenses1 Integration costs - 389 - 92 Advisory costs - - - - Depreciation and amortization1 Amortization of acquired intangible assets - 3,275 - 3,275 Impairment of goodwill1 - 159,612 - - Adjusted operating income (loss) (283,329) (120,053) 138,302 141,669 Divided by revenue 406,312 406,312 407,000 407,000 Total operating margin (69.7 %) (29.5 %) 34.0 % 34.8 % 1 For explanation of adjusting items, refer to the corresponding "Adjusted Net Income and Adjusted Diluted Earnings Per Share" section.   Year Ended ($ in 000's except percentages) December 31, 2025 December 31, 2025 (adjusted) December 31, 2024 (As restated) December 31, 2024 (adjusted) (As restated) easyfinancial Operating income 232,566 232,566 640,719 640,719 Divided by revenue 1,546,180 1,546,180 1,381,998 1,381,998 easyfinancial operating margin 15.0 % 15.0 % 46.4 % 46.4 % easyhome Operating income 37,176 37,176 44,586 44,586 Divided by revenue 150,609 150,609 152,875 152,875 easyhome operating margin 24.7 % 24.7 % 29.2 % 29.2 % Total Operating income 188,293 188,293 583,966 583,966 Other operating expenses1 Integration costs - 839 - 497 Advisory costs - - - 4,941 Depreciation and amortization1 Amortization of acquired intangible assets - 13,100 - 13,100 Impairment of goodwill1 - 159,612 - - Adjusted operating income 188,293 361,844 583,966 602,504 Divided by revenue 1,696,789 1,696,789 1,534,873 1,534,873 Total operating margin 11.1 % 21.3 % 38.0 % 39.3 % 1 For explanation of adjusting items, refer to the corresponding "Adjusted Net Income and Adjusted Diluted Earnings Per Share" section. Earnings before Interest, Taxes, Depreciation and Amortization ("EBITDA") and EBITDA Margin EBITDA is a non-IFRS measure, while EBITDA margin is a non-IFRS ratio. Refer to "Key Performance Indicators and Non-IFRS Measures" section on page 51 of the Company's MD&A for the year ended December 31, 2025. Items used to calculate EBITDA and EBITDA margin for the three-month periods and years ended December 31, 2025 and 2024 include those indicated in the chart below: Three Months Ended Year Ended ($ in 000's except percentages) December 31, 2025 December 31, 2024 (As restated) December 31, 2025 December 31, 2024 (As restated) Net income (loss) (336,944) 54,161 (178,370) 264,227 Finance cost 104,946 71,645 356,397 225,492 Income tax expense (62,346) 18,600 (2,550) 97,379 Depreciation and amortization 20,501 20,797 82,176 83,895 Depreciation of lease assets (6,880) (7,622) (27,767) (29,482) Impairment of goodwill 159,613 - 159,613 - EBITDA (121,110) 157,581 389,499 641,511 Divided by revenue 406,312 407,000 1,696,789 1,534,873 EBITDA margin (29.8 %) 38.7 % 23.0 % 41.8 % Cash Provided by Operating Activities before Net Principal Written Cash provided by operating activities before net principal written is a non-IFRS measure. Refer to "Key Performance Indicators and Non-IFRS Measures" section on page 51 of the Company's MD&A for the year ended December 31, 2025. Items used to calculate Cash provided by operating activities before net principal written for the three-month periods and years ended December 31, 2025 and 2024 include those indicated in the chart below: Three Months Ended Year Ended ($ in 000's) December 31, 2025 December 31, 2024 (As restated) December 31, 2025 December 31, 2024 (As restated) Cash used in operating activities (226,665) (21,422) (854,618) (473,283) Net principal written 764,546 606,273 2,915,326 2,399,463 Cash provided by operating activities before net principal written 537,881 584,851 2,060,708 1,926,180 Adjusted Return on Receivables Adjusted return on receivables is a non-IFRS ratio. Refer to "Key Performance Indicators and Non-IFRS Measures" section on page 51 of the Company's MD&A for the year ended December 31, 2025. Items used to calculate adjusted return on assets for the three-month periods and years ended December 31, 2025 and 2024 include those indicated in the chart below: Three Months Ended ($ in 000's except percentages) December 31, 2025 December 31, 2025 (adjusted) December 31, 2024 (As restated) December 31, 2024 (adjusted) (As restated) Net income (loss) (336,944) (336,944) 54,161 54,161 After-tax impact of adjusting items1 - 190,076 - 3,574 Adjusted net income (loss) (336,096) (146,868) 57,161 57,735 Multiplied by number of periods in a year X 4 X 4 X 4 X 4 Divided by average gross consumer loans receivable 5,554,084 5,554,084 4,538,130 4,538,130 Return on receivables (24.3 %) (10.6 %) 4.8 % 5.1 % 1 For explanation of adjusting items, refer to the corresponding "Adjusted Net Income and Adjusted Diluted Earnings Per Share" section.   Year Ended ($ in 000's except percentages) December 31, 2025 December 31, 2025 (adjusted) December 31, 2024 (As restated) December 31, 2024 (adjusted) (As restated) Net income (loss) (178,370) (178,370) 264,227 264,227 After-tax impact of adjusting items1 - 228,467 - 7,031 Adjusted net income (loss) (178,370) 50,097 264,227 271,258 Divided by average gross consumer loans receivable 5,143,519 5,143,519 4,168,415 4,168,415 Return on receivables (3.5 %) 1.0 % 6.3 % 6.5 % 1 For explanation of adjusting items, refer to the corresponding "Adjusted Net Income and Adjusted Diluted Earnings Per Share" section.              Adjusted Return on Assets Adjusted return on assets is a non-IFRS ratio. Refer to "Key Performance Indicators and Non-IFRS Measures" section on page 51 of the Company's MD&A for the year ended December 31, 2025. Items used to calculate adjusted return on assets for the three-month periods and years ended December 31, 2025 and 2024 include those indicated in the chart below: Three Months Ended ($ in 000's except percentages) December 31, 2025 December 31, 2025 (adjusted) December 31, 2024 (As restated) December 31, 2024 (adjusted) (As restated) Net income (loss) (336,944) (336,944) 54,161 54,161 After-tax impact of adjusting items1 - 190,076 - 3,574 Adjusted net income (loss) (336,944) (146,868) 54,161 57,735 Multiplied by number of periods in a year X 4 X 4 X 4 X 4 Divided by average total assets for the period 5,998,728 5,998,728 5,055,483 5,055,483 Return on assets (22.5 %) (9.8 %) 4.3 % 4.6 % 1 For explanation of adjusting items, refer to the corresponding "Adjusted Net Income and Adjusted Diluted Earnings Per Share" section.   Year Ended ($ in 000's except percentages) December 31, 2025 December 31, 2025 (adjusted) December 31, 2024 (As restated) December 31, 2024 (adjusted) (As restated) Net income (loss) (178,370) (178,370) 264,227 264,227 After-tax impact of adjusting items1 - 228,467 - 7,031 Adjusted net income (loss) (178,370) 50,097 264,227 271,258 Divided by average total assets for the period 5,636,539 5,636,539 4,664,263 4,664,263 Return on assets (3.2 %) 0.9 % 5.7 % 5.8 % 1 For explanation of adjusting items, refer to the corresponding "Adjusted Net Income and Adjusted Diluted Earnings Per Share" section. Adjusted Return on Equity Adjusted return on equity is a non-IFRS ratio. Refer to "Key Performance Indicators and Non-IFRS Measures" section on page 51 of the Company's MD&A for the year ended December 31, 2025. Items used to calculate adjusted return on equity for the three-month periods and years ended December 31, 2025 and 2024 include those indicated in the chart below: Three Months Ended ($ in 000's except percentages) December 31, 2025 December 31, 2025 (adjusted) December 31, 2024 (As restated) December 31, 2024 (adjusted) (As restated) Net income (loss) (336,944) (336,944) 54,161 54,161 After-tax impact of adjusting items1 - 190,076 - 3,574 Adjusted net income (loss) (336,944) (146,868) 54,161 57,735 Multiplied by number of periods in a year X 4 X 4 X 4 X 4 Divided by average shareholders' equity for the period 1,030,980 1,030,980 1,187,851 1,187,851 Return on equity (130.7 %) (57.0 %) 18.2 % 19.4 % 1 For explanation of adjusting items, refer to the corresponding "Adjusted Net Income and Adjusted Diluted Earnings Per Share" section.   Year Ended ($ in 000's except percentages) December 31, 2025 December 31, 2025 (adjusted) December 31, 2024 (As restated) December 31, 2024 (adjusted) (As restated) Net income (loss) (178,370) (178,370) 264,227 264,227 After-tax impact of adjusting items1 - 228,467 - 7,031 Adjusted net income (loss) (178,370) 50,097 264,227 271,258 Divided by average shareholders' equity for the period 1,114,925 1,114,925 1,132,895 1,132,895 Return on equity (16.0 %) 4.5 % 23.3 % 23.9 % 1 For explanation of adjusting items, refer to the corresponding "Adjusted Net Income and Adjusted Diluted Earnings Per Share" section. Reported and Adjusted Return on Tangible Common Equity Reported and adjusted return on tangible common equity are non-IFRS ratios. Refer to "Key Performance Indicators and Non-IFRS Measures" section on page 51 of the Company's MD&A for the year ended December 31, 2025. Items used to calculate reported and adjusted return on tangible common equity for the three-month periods and years ended December 31, 2025 and 2024 include those indicated in the chart below: Three Months Ended ($ in 000's except percentages) December 31, 2025 December 31, 2025 (adjusted) December 31, 2024 (As restated) December 31, 2024 (adjusted) (As restated) Net income (loss) (336,944) (336,944) 54,161 54,161 Amortization of acquired intangible assets 3,275 3,275 3,275 3,275 Impairment of goodwill 159,613 159,613 - - Income tax impact of the above item (868) (868) (868) (868) Net income before amortization of acquired intangible assets and impairment of goodwill, net of income tax (174,924) (174,924) 56,568 56,568 Impact of adjusting items1 Other operating expenses Integration costs - 389 - 92 Advisory costs - - - - Other (income) loss - 11,015 - (6,105) Finance costs Finance costs related to the repayment of the Revolving Securitization Warehouse Facility - 5,067 - - Refinancing costs related to Notes Payable - - - 9,429 Discount on the repurchase of Notes Payable - - - (1,487) Fair value change on prepayment options related to Notes Payable - 19,715 - 761 Total pre-tax impact of adjusting items - 36,186 - 2,690 Income tax impact of above adjusting items - (8,130) - (1,523) After-tax impact of adjusting items - 28,056 - 1,167 Adjusted net income (loss) (174,924) (146,868) 56,568 57,735 Multiplied by number of periods in a year X 4 X 4 X 4 X 4 Average shareholders' equity 1,030,980 1,030,980 1,187,851 1,187,851 Average goodwill (101,117) (101,117) (180,923) (180,923) Average acquired intangible assets2 (71,504) (71,504) (84,604) (84,604) Average related deferred tax liabilities 18,949 18,949 22,420 22,420 Divided by average tangible common equity 877,308 877,308 944,744 944,744 Return on tangible common equity (79.8 %) (67.0) % 24.0 % 24.4 % 1 For explanation of adjusting items, refer to the corresponding "Adjusted Net Income and Adjusted Diluted Earnings Per Share" section. 2 Excludes intangible assets relating to software.   Year Ended ($ in 000's except percentages) December 31, 2025 December 31, 2025 (adjusted) December 31, 2024 (As restated) December 31, 2024 (adjusted) (As restated) Net (loss) income (178,370) (178,370) 264,227 264,227 Amortization of acquired intangible assets 13,100 13,100 13,100 13,100 Impairment of goodwill 159,613 159,613 - - Income tax impact of the above item (3,472) (3,472) (3,472) (3,472) Net income before amortization of acquired intangible assets and impairment of goodwill, net of income tax (9,129) (9,129) 273,855 273,855 Impact of adjusting items1 Other operating expenses Integration costs - 839 - 497 Advisory costs - - - 4,941 Other loss (income) - 12,815 - (3,132) Finance costs Finance costs related to the repayment of the Revolving Securitization Warehouse Facility II - 5,067 - - Refinancing costs related to Notes Payable - - - 9,429 Discount on the repurchase of Notes Payable - - - (1,487) Fair value change on prepayment options related to Notes Payable - 59,547 - (13,216) Total pre-tax impact of adjusting items - 78,268 - (2,968) Income tax impact of above adjusting items - (19,042) - 371 After-tax impact of adjusting items - 59,226 - (2,597) Adjusted net (loss) income (9,128) 50,097 273,855 271,258 Average shareholders' equity 1,114,925 1,114,925 1,132,895 1,132,895 Average goodwill (149,000) (149,000) (180,923) (180,923) Average acquired intangible assets2 (76,417) (76,417) (89,517) (89,517) Average related deferred tax liabilities 20,250 20,250 23,722 23,722 Divided by average tangible common equity 919,900 919,900 890,684 890,684 Return on tangible common equity (1.0 %) 5.4 % 30.7 % 30.5 % 1 For explanation of adjusting items, refer to the corresponding "Adjusted Net Income (Loss) and Adjusted Diluted Earnings (Loss) Per Share" section. 2 Excludes intangible assets relating to software. easyhome Financial Revenue easyhome financial revenue is a non-IFRS measure. It is calculated as total company revenue less easyfinancial revenue and leasing revenue. The Company believes that easyhome financial revenue is an important measure of the performance of the easyhome segment. Items used to calculate easyhome financial revenue for the three-month periods ended December 31, 2025 and 2024 include those indicated in the chart below: ($in 000's) Three Months Ended December 31, 2025 December 31, 2024 (As restated) Total company revenue 406,312 407,000 Less: easyfinancial revenue (367,749) (369,159) Less: leasing revenue (22,117) (24,612) easyhome financial revenue 16,446 13,229 Total Yield on Consumer Loans as a Percentage of Average Gross Consumer Loans Receivable Total yield on consumer loans as a percentage of average gross consumer loans receivable is a non-IFRS ratio. See description in section "Portfolio Analysis" on page 37 of the Company's MD&A for the year ended December 31, 2025. Items used to calculate total yield on consumer loans as a percentage of average gross consumer loans receivable for the three-month periods and years ended December 31, 2025 and 2024 include those indicated in the chart below: Three Months Ended Year Ended ($ in 000's except percentages) December 31, 2025 December 31, 2024 (As restated) December 31, 2025 December 31, 2024 (As restated) Total Company revenue 406,312 407,000 1,696,789 1,534,873 Less: Leasing revenue (22,117) (24,612) (91,181) (101,129) Less: Bad debts on interest income (15,507) (12,217) (51,903) (27,508) Adjusted financial revenue 368,688 370,171 1,553,705 1,406,235 Multiplied by number of periods in a year X 4 X 4 X 4/4 X 4/4 Divided by average gross consumer loans receivable 5,554,084 4,538,130 5,143,519 4,168,415 Total yield on consumer loans as a percentage of average gross consumer loans receivable (annualized) 26.6 % 32.6 % 30.2 % 33.7 % Net Charge Offs as a Percentage of Average Gross Consumer Loans Receivable Net charge Offs as a percentage of average gross consumer loans receivable is a non-IFRS ratio. See description in section "Portfolio Analysis" on page 37 of the Company's MD&A for the year ended December 31, 2025. Items used to calculate net charge Offs as a percentage of average gross consumer loans receivable for the three-month periods and years ended December 31, 2025 and 2024 include those indicated in the chart below: Three Months Ended Year Ended ($in 000's except percentages) December 31, 2025 December 31, 2024 (As restated) December 31, 2025 December 31, 2024 (As restated) Net charge offs on gross consumer loans receivable 331,133 103,910 663,690 383,657 Multiplied by number of periods in a year X 4 X 4 X 4/4 X 4/4 Divided by average gross consumer loans receivable 5,554,084 4,538,130 5,143,519 4,168,415 Net charge offs as a percentage of average gross consumer loans receivable (annualized) 23.8 % 9.2 % 12.9 % 9.2 % Net Principal Written and Percentage Net Principal Written to New Customers Net principal written (Net loan advances) is a non-IFRS measure. See description in section "Portfolio Analysis" on page 37 of the Company's MD&A for the year ended December 31, 2025. The percentage of net loan advances to new customers is a non-IFRS ratio. It is calculated as loan originations to new customers divided by the net principal written. The Company uses percentage of net loan advances to new customers, among other measures, to assess the operating performance of its lending business.  Items used to calculate the percentage of net loan advances to new customers for the three-month periods ended December 31, 2025 and 2024 include those indicated in the chart below: Three Months Ended Year Ended ($ in 000's) December 31, 2025 December 31, 2024 December 31, 2025 December 31, 2024 Gross loan originations 951,535 813,689 3,477,754 3,166,227 Loan originations to new customers 525,043 428,753 2,093,696 1,701,171 Loan originations to existing customers 426,492 384,936 1,384,058 1,465,056 Less: Proceeds applied to repay existing loans (186,989) (207,416) (562,428) (766,764) Net advance to existing customers 239,503 177,520 821,630 698,292 Net principal written 764,546 606,273 2,915,326 2,399,463 Percentage net advances to new customers 68.7 % 70.7 % 71.8 % 70.9 % Debt to Adjusted Tangible Equity Debt to adjusted tangible equity is a capital management measure. Refer to "Financial Condition" section on page 61 of the Company's MD&A for the year ended December 31, 2025. Average Loan Book Per Branch Average loan book per branch is a supplementary financial measure. It is calculated as gross consumer loans receivable held by easyfinancial branch locations divided by the number of total easyfinancial branch locations. Weighted Average Interest Rate Weighted average interest rate is a supplementary financial measure. It is calculated as the sum of individual loan balance multiplied by interest rate divided by gross consumer loans receivable. SOURCE goeasy Ltd View original content to download multimedia: http://www.newswire.ca/en/releases/archive/March2026/31/c8406.html