CANACCORD GENUITY GROUP INC. REPORTS FIRST QUARTER FISCAL 2026 RESULTS

Excluding significant items, quarterly earnings per common share of $0.13 ⁽¹⁾
First quarter dividend of $0.085 per common share

TORONTO, Aug. 6, 2025 /CNW/ - Canaccord Genuity Group Inc. (Canaccord Genuity Group, the Company) (TSX: CF) today announced its financial results for the first fiscal quarter ended June 30, 2025.

"We delivered a solid top-line performance for our first fiscal quarter, led by record contributions from our wealth management division. Elevated trading volumes and a notable improvement in corporate financing activity helped offset a significant decline in advisory completions, which were affected by trade and policy uncertainty impacting smaller-cap companies in our core sectors," said Dan Daviau, Chairman & CEO of Canaccord Genuity Group Inc. "As we execute effectively for our clients amid improving business conditions, we remain confident in our ability to enhance our firm-wide results and profit margins for the current fiscal year."

First fiscal quarter highlights (adjusted):
(All dollar amounts are stated in thousands of Canadian dollars and on an adjusted basis excluding significant items⁽¹⁾ unless otherwise indicated)

• First quarter revenue of $448.4 million, an increase of 4.5% over the same period in the prior year
• First quarter net income before taxes of $33.4 million, a decrease of 4.1% or $1.4 million year-over-year
• Diluted earnings per common share for the first fiscal quarter of $0.13 per share, unchanged from the same period in the prior year
• Record quarterly wealth management revenue of $242.9 million, a year-over-year increase of 12.5%
• CG's global wealth management division contributed net income before taxes of $40.8 million in the first quarter of fiscal 2026, a year-over-year increase of 22.7%
• Total client assets⁽¹⁾ in our global wealth management division increased by 18.4% year-over-year to a new record of $125.3 billion with new highs achieved in all regions. Growth reflects year-over-year increases of 16.9% in Canada, 17.6% in the UK & Crown Dependencies, and 34.3% in Australia
• Global capital markets revenue of $200.1 million declined 2.7% year-over-year, primarily attributable to a decrease in advisory completions in the Company's core focus sectors, partially offset by higher trading and commissions & fees revenue
• CG's global capital markets division contributed first quarter net income before taxes of $5.5 million
• On an IFRS basis, revenue of $448.4 million increased 4.7% year over year. Net loss before taxes for the first quarter of $11.9 million compared to pre-tax income of $23.5 million in Q1/25. Diluted loss per common share of $0.32 compared to EPS of $0.02 in Q1/25.
• First quarter common share dividend of $0.085 per share

	Three months ended June 30		Year-over-year change	Three months ended March 31	Quarter-over- quarter change
	Q1/26	Q1/25		Q4/25
First fiscal quarter highlights- adjusted^1
Revenue ^1	$448,447	$428,961	4.5 %	$460,016	(2.5) %
Expenses ^1	$415,063	$394,144	5.3 %	$427,775	(3.0) %
Diluted earnings per common share ^1	$0.13	$0.13	-	$0.12	8.3 %
^1 See Non-IFRS Measures on page 5
Net Income ^1,2	$26,059	$25,441	2.4 %	$22,481	15.9 %
Net Income attributable to common shareholders ^1,3	$13,505	$13,363	1.1 %	$11,892	13.6 %
First fiscal quarter highlights- IFRS
Revenue	$448,447	$428,165	4.7 %	$461,227	(2.8) %
Expenses	$460,360	$404,632	13.8 %	$442,944	3.9 %
Diluted (loss) earnings per common share	$(0.32)	$0.02	n.m.	$(0.01)	n.m.
Net (loss) income^2	$(16,845)	$16,721	(200.7) %	$10,867	(255.0) %
Net (loss) income attributable to common shareholders^,3	$(30,911)	$2,399	n.m.	$(1,156)	n.m.
1. Figures excluding significant items are non-IFRS measures. See Non-IFRS Measures on page 5 2. Before non-controlling interests and preferred share dividends paid on the Series A and Series C Preferred Shares 3. Net income (loss) attributable to common shareholders is calculated as the net income adjusted for non-controlling interests and preferred share dividends

Core business performance highlights:

Canaccord Genuity Wealth Management

The Company's combined global wealth management operations earned record quarterly revenue of $242.9 million for the first fiscal quarter, a year-over-year increase of 12.5%. This increase was largely attributable to higher commissions & fees revenue earned in all geographies which largely reflects our strategy of increasing contributions from fee-based assets. On a consolidated basis, commissions & fees revenue earned in this division for the three-month period amounted to a record $194.1 million, a year-over-year increase of 17.9%.  Net income before taxes excluding significant items⁽¹⁾ increased by 22.7% year-over-year to $40.8 million.

• Wealth management operations in the UK & Crown Dependencies generated first quarter revenue of $125.7 million, an increase of 17.0% compared to the same period last year and represents the sixth consecutive quarter of record revenue in this business. Commissions & fee revenue improved by 21.9% year-over-year to $101.0 million. Net income before taxes excluding significant items⁽¹⁾ was $29.7 million in Q1/26, up 30.5% year-over-year. Normalized EBITDA^(1)(2)(3), a commonly used operating metric for this business, was £21.1 million for the three months ended June 30, 2025, a year-over-year increase of 8.5%.
• Canaccord Genuity Wealth Management (North America) generated $94.1 million in fiscal first quarter revenue, an increase of 4.5% compared to the same quarter a year ago. Commissions & fees revenue for the three-month period increased by 10.4% year-over-year to $72.9 million. Excluding significant items⁽¹⁾, net income before taxes was $9.2 million in Q1/26, materially in line with the same period of the prior year. EBITDA⁽¹⁾⁽²⁾ in this business was $15.5 million for the three months ended June 30, 2025.
• Wealth management operations in Australia generated a new record of $23.1 million in fiscal first quarter revenue, an increase of 25.2% compared to the first quarter of last year. Commissions & fees revenue increased by 28.0% year-over-year to $20.2 million and investment banking revenue increased by 12.0% to $2.6 million. Excluding significant items⁽¹⁾, net income before taxes for this business was $1.9 million in Q1/26, up 52.0% from $1.2 million in Q1/25.
• Total client assets in the Company's global wealth management division at the end of the first fiscal quarter amounted to $125.3 billion, an increase of $19.5 billion or 18.4% from Q1/25.
• Client assets in the UK & Crown Dependencies reached a new record of $71.6 billion (£38.3 billion) as at June 30, 2025, a year-over-year increase of 17.6% (an increase of 8.8% in local currency) due to net new assets from acquisitions, market growth, positive net flows and foreign exchange movement. On a sequential basis, client assets⁽¹⁾ increased by 3.4% from $69.2 billion (£37.2 billion) from the previous quarter.
• Client assets in North America reached a new record of $44.8 billion as at June 30, 2025, an increase of 16.9% from $38.3 billion at June 30, 2024 and an increase of 4.9% from March 31, 2025. The year-over-year increase was attributable to increases in market values, positive net flows and recruitment activity.
• Client assets⁽¹⁾ in Australia were $8.9 billion (AUD 10.0 billion) at June 30, 2025, an increase of 34.3% from the first quarter of fiscal 2025 and an increase of 5.5% from $8.4 billion (AUD 9.4 billion) at March 31, 2025. In addition, client assets⁽¹⁾ totalling $13.6 billion (AUD 15.2 billion) are also held on record in less active and transactional accounts through our Australian platform.

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⁽¹⁾ See Non-IFRS Measures on page 5

⁽²⁾  The Company's method of computation for this metric may differ from the methods used by other companies

⁽³⁾  The normalized EBITDA for Q1/25 was restated to £19.4 million

Canaccord Genuity Capital Markets

On a consolidated basis, Canaccord Genuity Capital Markets earned revenue of $200.1 million for the first fiscal quarter, a year-over-year decrease of 2.7%, largely due to a decline in advisory fees revenue as trade and policy-related economic uncertainties resulted in fewer transactions being completed during the quarter. The year-over-year decline was partially offset by stronger contributions from principal trading activities and commissions & fees revenue.

Advisory revenue of $48.9 million decreased by 27.1% year-over-year, primarily reflecting the timing of completions in our US and UK businesses due to the impact of previously mentioned economic uncertainties, partially offset by increases in our Canadian and Australian operations. As advisory activity has become a more meaningful component of the Australian operations, advisory fees revenue is disclosed separately commencing Q1 fiscal 2026 instead of being included in investment banking. Comparatives have been restated.

Investment banking revenue of $62.4 million improved by 55.5% compared to the prior fiscal quarter but decreased by 4.1% compared to the exceptionally strong performance of Q1/25. The sequential increase was driven by higher contributions in our Canadian, US and Australian capital markets businesses. During the three-month period, Canaccord Genuity Capital Markets participated in 93 investment banking transactions globally, raising total proceeds of $16.2 billion.

Trading revenue increased by 52.3% year-over-year and 20.5% sequentially to $37.8 million and primarily reflects contributions from our US operations, which benefited from increased trading volumes as a result of heightened volatility during the three-month period.

Commissions & fees revenue increased by 8.1% year-over-year, to $41.0 million. Increases in our US, Canadian and Australian operations were partially offset by a modest decline in the UK & Europe.

Excluding significant items⁽¹⁾, our global capital markets division recorded net income of $5.5 million for the quarter compared to   $13.0 million in the same period a year ago. Contributions of $6.5 million and $4.9 million from our Canadian and Australian businesses were partially offset by losses of $3.3 million and $2.6 million in our US and UK operations.

Summary of Corporate Developments

On April 1, 2025, the Company announced that it had entered into a definitive agreement to sell its U.S. wholesale market making business to Cantor, further strengthening its focus on its core global advisory and ECM-led investment banking platform. Completion of the sale is subject to customary closing conditions and is expected to occur in the first half of the Company's 2026 fiscal year.

During the first quarter of fiscal 2026, subsidiaries of the Company ("CG Group") made approximately $27.0 million in new purchase loans ("2026 Purchase Loans") to executive officers, senior managers and senior revenue producing employees of CG Group (the "Participants") for the purpose of funding part of their purchase price for limited partnership units ("LP Units") in CG Partners Limited Partnership (the "Partnership" or "CG Partners"), the independent employee share ownership partnership.  The 2026 Purchase Loans contain substantially the same terms as the purchase loans advanced to Participants in fiscal 2025 (the "2025 Purchase Loans" and together with the 2026 Purchase Loans, the "Purchase Loans"). In particular, the 2026 Purchase Loans bear interest, have a term up to seven years, are secured against a pledge of the LP Units and include a top-up made on annual bonuses or monthly grid payments, as applicable, in connection with the repayment of principal under the loans by the Participants. In connection therewith, in June 2026, the Company advanced the Partnership a $17.0 million short-term interest-bearing secured loan (the "New Partnership Loan"), which the Partnership repaid prior to June 30, 2025 using the cash proceeds that it received from the Participants' subscription for LP Units. As of June 30, 2025, the aggregate Purchase Loans outstanding net of principal repayments was $69.4 million.

Results for the First Quarter of Fiscal 2026 were impacted by the following significant items:

• Amortization of intangible assets acquired in connection with business combinations
• Certain incentive-based costs related to acquisitions in US and UK capital markets and CGWM UK
• Fair value adjustment of the non-controlling interest derivative liability
• Fair value adjustment of convertible debentures derivative liability
• Fair value adjustment of a CGWM UK management incentive plan
• Fair value adjustment of contingent consideration related to previous acquisitions
• Professional fees related to ongoing US regulatory matters
• Certain components of the non-controlling interest expense associated with CGWM UK
• Acquisition-related costs

Summary of Results for Q1 Fiscal 2026 and Selected Financial Information Excluding Significant Items⁽¹⁾:

	Three months ended June 30		Quarter-over- quarter change
(C$ thousands, except per share and % amounts)	2025	2024
Revenue
Revenue per IFRS	$448,447	$428,165	4.7 %
Significant items recorded in Corporate and Other
Fair value adjustments on certain illiquid and restricted marketable securities	-	$796	(100.0) %
Total revenue excluding significant item	$448,447	$428,961	4.5 %
Expenses
Expenses per IFRS	$460,360	$404,632	13.8 %
Significant items recorded in CanaccordGenuity Capital Markets
Amortization of intangible assets	$107	$157	(31.8) %
Incentive-based costs related to acquisitions	$495	$513	(3.5) %
Restructuring costs	-	$2,657	(100.0) %
Lease expenses related to premises under construction	-	$2,026	(100.0) %
Change in fair value of contingent consideration	$(3,213)	-	n.m
Provision	$2,553	-	n.m
Significant items recorded in CanaccordGenuity Wealth Management
Amortization of intangible assets	$7,514	$5,829	28.9 %
CGWM UK management incentive plan	$7,400	-	n.m
Incentive-based costs related to acquisitions	$2,998	$832	260.3 %
Acquisition-related costs	$718	$704	2.0 %
Significant items recorded in Corporate and Other
Lease expenses related to premises under construction	-	$1,794	(100.0) %
Fair value adjustment of non-controlling interests derivative liability	$12,000	-	n.m
Fair value adjustment of convertible debentures derivative liability	$14,725	$(4,024)	n.m
Total significant items – expenses	$45,297	$10,488	n.m
Total expenses excluding significant items	$415,063	$394,144	5.3 %
Net income before taxes excluding significant items^(1)	$33,384	$34,817	(4.1) %
Income taxes – adjusted^(1)	$7,325	$9,376	(21.9) %
Net income excluding significant items^(1)	$26,059	$25,441	2.4 %
Significant items impacting net income attributable to common shareholders
Non-controlling interests – IFRS	$11,214	$11,470	(2.2) %
Amortization of equity component of the non-controlling interests in CGWM UK and other adjustment	$1,512	$2,244	(32.6) %
Non-controlling interests (adjusted)^(1)	$9,702	$9,226	5.2 %
Preferred share dividends	$2,852	$2,852	-
Net income attributable to common shareholders, excluding significant items^(1)	$13,505	$13,363	1.1 %
Earnings per common share excluding significant items– basic^(1)(2)	$0.14	$0.14	-
Earnings per common share excluding significant items-  diluted^(1)(2)	$0.13	$0.13	-

¹ Figures excluding significant items are non-IFRS measures. See Non-IFRS Measures on page 5.

² For the quarter ended June 30, 2025, the effect of reflecting the Company's proportionate share of CGWM UK's earnings is anti-dilutive under both IFRS and on an adjusted basis excluding significant items⁽¹⁾. As such, the diluted EPS and net income attributable to common shareholders under IFRS and on an adjusted basis excluding significant items⁽¹⁾ is computed based on net income less paid and accrued dividends on the Convertible Preferred Shares and Preference Shares issued by CGWM UK to determine net income attributable to CGGI shareholders.

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⁽¹⁾ See Non-IFRS Measures on page 5

Financial Condition at the End of First Quarter Fiscal 2026 vs. Fourth Quarter of Fiscal 2025:

	June 30, 2025	March 31, 2025	Q1/26 vs Q4/25
Cash	1,261,135	1,193,201	5.7 %
Working capital	834,272	838,831	(0.5) %
Total assets	6,868,307	6,720,547	2.2 %
Total liabilities	5,569,931	5,356,832	4.0 %
Non-controlling interests	409,378	403,923	1.4 %
Total shareholders' equity	888,998	959,792	(7.4) %

Common and Preferred Share Dividends: 

On August 6, 2025, the Board of Directors approved a dividend of $0.085 per common share, payable on September 10, 2025, with a record date of August 29, 2025.    

On August 6, 2025, the Board approved a cash dividend of $0.25175 per Series A Preferred Share payable on September 30, 2025 to Series A Preferred shareholders of record as at September 19, 2025.   

On August 6, 2025, the Board approved a cash dividend of $0.42731 per Series C Preferred Share payable on September 30, 2025 to Series C Preferred shareholders of record as at September 19, 2025.   

Non-IFRS Measures

Certain non-IFRS measures, non-IFRS ratios and supplementary financial measures are utilized by the Company as measures of financial performance. Non-IFRS measures, non-IFRS ratios and supplementary financial measures do not have any standardized meaning prescribed by IFRS and are therefore unlikely to be comparable to similar measures presented by other companies.

Management believes that these non-IFRS measures, non-IFRS ratios and supplementary financial measures allow for a better evaluation of the operating performance of the Company's business and facilitate meaningful comparison of results in the current period to those in prior periods and future periods. Non-IFRS measures presented in this earnings release include certain figures from our statement of operations that are adjusted to exclude significant items. Although figures that exclude significant items provide useful information by excluding certain items that may not be indicative of the Company's core operating results, a limitation of utilizing these figures that exclude significant items is that the IFRS accounting effects of these items do in fact reflect the underlying financial results of the Company's business. Accordingly, these effects should not be ignored in evaluating and analyzing the Company's financial results. Therefore, management believes that the Company's IFRS measures of financial performance and the respective non-IFRS measures should be considered together.

Non-IFRS Measures (Adjusted Figures)

Figures that exclude significant items provide useful information by excluding certain items that may not be indicative of the Company's core operating results. Financial statement items that exclude significant items are non-IFRS measures. To calculate these non-IFRS financial statement items, we exclude certain items from our financial results prepared in accordance with IFRS. The items which have been excluded are referred to herein as significant items. The following is a description of the composition of the non-IFRS measures used in this earnings release (note that some significant items excluded may not be applicable to the calculation of the non-IFRS measure for each comparative period): (i) revenue excluding significant items, which is revenue per IFRS excluding any applicable fair value adjustments on certain illiquid or restricted marketable securities, warrants and options as recorded for IFRS reporting purposes but which are excluded for management reporting purposes and are not used by management to assess operating performance; (ii) expenses excluding significant items are expenses per IFRS less any applicable amortization of intangible assets acquired in connection with a business combination, restructuring costs, certain expenses related to leased premises under construction, acquisition-related expense items, which includes costs recognized in relation to both prospective and completed acquisitions, certain incentive-based costs related to the acquisitions and growth initiatives of Canaccord Genuity Wealth Management in the UK and Crown Dependencies ("CGWM UK") and the US and UK capital markets divisions, fair value adjustment of certain contingent consideration in connection with prior acquisitions, fair value adjustments to the derivative liability component of non-controlling interests in CGWM UK, fair value adjustments to the derivative liability component related to the convertible debentures; a fair value adjustment in respect of the CGWM UK management incentive plan;  and certain provisions and professional fees related to the ongoing US regulatory matters (iii) overhead expenses excluding significant items, which are calculated as expenses excluding significant items less compensation expense; (iv) net income before taxes after intersegment allocations and excluding significant items, which is composed of revenue excluding significant items less expenses excluding significant items; (v) income taxes (adjusted), which is composed of income taxes per IFRS adjusted to reflect the associated tax effect of the excluded significant items; (vi) net income excluding significant items, which is net income before income taxes excluding significant items less income taxes (adjusted); (vii) non-controlling interests (adjusted), which is composed of the non-controlling interests per IFRS less the amortization of the equity component of the non-controlling interests in CGWM UK and adjusted as applicable under the treasury stock method when dilutive; (viii) net income attributable to common shareholders excluding significant items, which is net income excluding significant items less non-controlling interests (adjusted) and preferred share dividends paid on the Series A and Series C Preferred Shares.  Other non-IFRS measures include earnings before income taxes, interest, depreciation and amortization (EBITDA), which is net income before taxes excluding significant items and also excludes certain corporate interest revenue and corporate interest expense, depreciation and amortization and normalized EBITDA which is EBITDA excluding certain expenses of a specialized or non-recurring nature.  EBITDA does not exclude right of use assets amortization and lease interest expense. The respective figures as described in this paragraph for the Company's operating divisions are determined as described herein and are non-IFRS measures.

A reconciliation of non-IFRS measures that exclude significant items to the applicable IFRS measures from the unaudited interim condensed consolidated financial statements for the first quarter of fiscal 2026 can be found above in the table entitled "Summary of results for Q1 fiscal 2026 and selected financial information excluding significant items".

Non-IFRS Ratios

Non-IFRS ratios are calculated using the non-IFRS measures defined above. For the periods presented herein, we have used the following non-IFRS ratios: (i) total expenses excluding significant items as a percentage of revenue, which is calculated by dividing expenses excluding significant items by revenue excluding significant items; (ii) earnings per common share excluding significant items, which is calculated by dividing net income attributable to common shareholders excluding significant items by the weighted average number of common shares outstanding (basic); (iii) diluted earnings per common share excluding significant items which is calculated by dividing net income attributable to common shareholders excluding significant items  by the weighted average number of common shares outstanding (diluted); and (iv) pre-tax profit margin which is calculated by dividing net income before taxes excluding significant items by revenue excluding significant items.

Supplementary Financial Measures

Client assets are supplementary financial measures that do not have any definitions prescribed under IFRS but do not meet the definition of a non-IFRS measure or non-IFRS ratio.  Client assets, which include both assets under management (AUM) and assets under administration (AUA), is a measure that is common to the wealth management business. Client assets is the market value of client assets managed and administered by the Company from which the Company earns commissions and fees.  This measure includes funds held in client accounts as well as the aggregate market value of long and short security positions. The Company's method of calculating client assets may differ from the methods used by other companies, and therefore these measures may not be comparable to other companies. Management uses these measures to assess operational performance of the Canaccord Genuity Wealth Management business segment.

ACCESS TO QUARTERLY RESULTS INFORMATION   

Interested parties are invited to listen to Canaccord Genuity's first quarter fiscal 2026 results conference call via live webcast or a toll-free number. The conference call is scheduled for Thursday, August 7, at 8:00 a.m. Eastern time, 1:00 p.m. UK, and 10:00 p.m. Australia AEST.

The conference call may be accessed live and will also be archived on a listen-only basis at: www.cgf.com/investor-relations/news-and-events/conference-calls-and-webcasts/ 

Analysts and institutional investors can call in via telephone at:

• 1-416-945-7677 (within Toronto)
• 1-888-699-1199 (toll free in North America)
• 448-002-797-040 (toll free from the United Kingdom)
• 612-801-71385 (toll free from Australia)

Please ask to participate in the Canaccord Genuity Group Inc. Q1/26 results call.  If a conference call ID is requested, please use 49869.

A replay of the conference call will be made available from approximately two hours after the live call on August 7, 2025, until September 7, 2025, at 1-289-819-1450 or 1-888-660-6345 by entering passcode 49869 followed by the (#) key.

ABOUT CANACCORD GENUITY GROUP INC.:

Through its principal subsidiaries, Canaccord Genuity Group Inc. (the Company) is a leading independent, full-service financial services firm, with operations in two principal segments of the securities industry: wealth management and capital markets.  Since its establishment in 1950, the Company has been driven by an unwavering commitment to building lasting client relationships. We achieve this by generating value for our individual, institutional and corporate clients through comprehensive investment solutions, brokerage services and investment banking services. The Company has wealth management offices located in Canada, the UK, Guernsey, Jersey, the Isle of Man and Australia. The Company's international capital markets division operates in North America, the UK & Europe, Asia, and Australia.

Canaccord Genuity Group Inc. is listed under the symbol CF on the TSX.

CAUTION REGARDING FORWARD-LOOKING STATEMENTS

This earnings release may contain "forward-looking information" as defined under applicable securities laws ("forward-looking statements"). These statements relate to future events or future performance and reflect the Company's expectations, beliefs, plans, estimates, intentions and similar statements concerning anticipated future events, results, circumstances, performance or expectations that are not historical facts, including statements related to potential future transactions, actions by the Management Group or future Board representation. Such forward-looking statements reflect management's current beliefs and are based on information currently available to the Company. In some cases, forward-looking statements can be identified by terminology such as "may", "will", "should", "expect", "plan", "anticipate", "believe", "estimate", "predict", "potential", "continue", "target", "intend", "could" or the negative of these terms or other comparable terminology. By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and a number of factors could cause actual events or results to differ materially from the results discussed in the forward-looking statements.

In evaluating these statements, readers should specifically consider various factors that may cause actual results to differ materially from any forward-looking statement. These factors include, but are not limited to, the trading price of the Company's shares; the Company's financial condition and earnings; market and general economic conditions (including slowing economic growth, inflation and rising interest rates); the dynamic nature of the financial services industry; and the risks and uncertainties discussed from time to time in the Company's interim condensed and annual consolidated financial statements, its annual report and its annual information form ("AIF") filed on www.sedarplus.ca as well as the factors discussed in the sections entitled "Risk Management" and "Risk Factors" in the AIF, which include market, liquidity, credit, operational, legal and regulatory risks.

Although the forward-looking statements contained in this earnings release are based upon assumptions that the Company believes are reasonable, there can be no assurance that actual results will be consistent with these forward-looking statements. The forward-looking statements contained in this earnings release are made as of the date of this earnings release and should not be relied upon as representing the Company's views as of any date subsequent to the date of this earnings release. Except as may be required by applicable law, the Company does not undertake, and specifically disclaims, any obligation to update or revise any forward-looking statements, whether as a result of new information, further developments or otherwise.

SOURCE Canaccord Genuity Group Inc.

FOR FURTHER INFORMATION: Investor and media relations inquiries: Christina Marinoff, SVP, Head of Investor Relations & Global Corporate Communications, Phone: [phone], Email: [email protected], www.cgf.com/investor-relations