goeasy Ltd. Reports Record Results for the Second Quarter

Loan Originations of $904 million, up 9% from $827 million

Loan Growth of $313 million, up 9% from $286 million

Loan Portfolio of $5.10 billion, up 23% from $4.14 billion

Revenue of $418 million, up 11% from $378 million

Net Charge Off Rate of 8.8%, down 50 bps from 9.3%

Diluted EPS of $5.19; Adjusted Diluted EPS¹ of $4.11, consistent year-over-year

MISSISSAUGA, ON, Aug. 6, 2025 /CNW/ - goeasy Ltd. (TSX: GSY), ("goeasy" or the "Company"), a leading consumer lender focused on delivering a full suite of financial services to Canadians with near to non-prime credit scores, today reported results for the second quarter ended June 30, 2025.

Second Quarter Results

During the quarter, the Company generated a record $904 million in loan originations, up 9% compared to $827 million produced in the second quarter of 2024. The increase in lending was driven by a record volume of applications for credit, which were up 23% over the prior year. The Company experienced strong performance across all our product and acquisition channels, including unsecured lending, automotive financing, home equity lending and point-of-sale financing.

The increase in loan originations during the quarter led to record growth in the loan portfolio of $313 million, above the Company's outlook range of between $275 million and $300 million. At quarter end, the consumer loan portfolio was $5.10 billion, up 23% from $4.14 billion in the second quarter of 2024. Total annualized yield (including ancillary products) realized on average consumer loans receivable was 31.8% in the quarter, down 310 bps from the same period in 2024. The decrease in annualized yield was due to growth of secured loan products at lower rates of interest, a higher proportion of larger dollar value loans which have reduced pricing on certain ancillary products, and the impact of the new interest rate cap. The growth in consumer loans led to an increase in revenue, which was a record $418 million, up 11% from $378 million in the second quarter of last year. Interest income increased year over year by $41 million or 15%. 

During the quarter, the Company continued to experience stable credit and payment performance. The annualized net charge off rate was 8.8%, down 50 bps from 9.3% in the second quarter of 2024 primarily due to the improved credit and product mix of the loan portfolio, as well as credit and underwriting enhancements. The Company's net charge off rate was at the low end of the outlook range of between 8.75% and 9.75% for the quarter. The Company's allowance for future credit losses increased to 7.92%, compared to 7.86% in the first quarter of 2025, primarily due to unfavourable movement in forward looking macroeconomic indicators produced by Moody's Analytics, partially offset by improved credit and product mix of the loan portfolio, as well as credit and underwriting enhancements.

Operating income for the second quarter of 2025 was $161 million, up 9% from $147 million in the second quarter of 2024. Operating margin for the first quarter was 38.5%, down slightly from 39.0% in the same period last year. After adjusting for unusual and non-recurring items, the Company reported adjusted operating income² of $164 million, an increase of 7% compared to $153 million in the second quarter of 2024. Adjusted operating margin¹ for the first quarter was 39.3%, down from 40.5% in the same period in 2024. The efficiency ratio¹ for the second quarter of 2025 was 25.6%, an improvement of 130 bps from 26.9% in the second quarter of 2024, reflecting an increase in operating leverage.

Net income in the second quarter was $86.5 million, up 32% from $65.4 million in the same period of 2024, which resulted in diluted earnings per share of $5.19, up 38% from the $3.76 reported in the second quarter of 2024. After adjustments related primarily to the non-cash fair value change on prepayment options related to notes payable, adjusted net income² was $68.5 million, down 4% from $71.3 million in the second quarter of 2024. Adjusted diluted earnings per share¹ was $4.11, in-line with $4.10 in the second quarter of 2024. Return on equity during the quarter was 29.3%, compared to 23.3% in the second quarter of 2024. Adjusted return on equity¹ was 23.2% in the quarter, compared to 25.4% in the same period of 2024.

"During the second quarter, the team at goeasy proudly served nearly 450,000 active customers, contributing to record loan receivables growth of $313 million and record quarter ending consumer loans receivables of $5.10 billion. These results reflect the strong ongoing customer demand for advice, products and services across the country. Providing access to credit remains a top priority in our mission to serve the approximately ten million Canadians in the non-prime segment who rely on us for their everyday needs, and goeasy continues to earn top marks and growth in key categories," said Dan Rees, goeasy's Chief Executive Officer. "Our consistently strong and balanced results point to our sales expertise, credit discipline, and a resilient business model through the business cycle," Mr. Rees continued. "With the momentum of the first half, we are reiterating the full year 2025 annual key performance indicator forecast we provided on February 13, 2025. In addition, we expect gross consumer loans receivable to come in at the top end of the $5.40 to $5.70 billion range referenced in that forecast. With a non-prime consumer credit market size in Canada of over $230 billion, there is considerable runway ahead."

Other Key Second Quarter Highlights
(Second quarter 2025 relative to second quarter 2024, where applicable)

easyfinancial

• Revenue of $381 million, up 12%
• 48% of the loan portfolio secured, up from 44%
• Record volume of applications for credit, up 23%
• New customer volume at 50,300, up 3%
• 73% of net loan advances¹ in the quarter were issued to new customers, up from 71%
• Strong volume of originations in automotive financing, up 47%
• Average loan book per branch³ improved to a record $7.5 million, an increase of 4%
• Weighted average interest rate³ on consumer loans of 27.9%, down from 29.5%
• Operating income of $176 million, up 7%

easyhome

• Revenue of $37.5 million, down slightly from $38.3 million
• Consumer loan portfolio within easyhome stores increased to $137.8 million, up 25%
• Financial revenue² from consumer lending increased to $14.4 million, up 12%
• Operating income of $9.9 million, down 17%

Overall

• 96^th consecutive quarter of positive net income
• 2025 marks the 21^st consecutive year of paying dividends and the 11^th consecutive year with a dividend increase
• 61^st consecutive quarter of same store revenue growth
• Approximately 1.6 million total customers served since easyfinancial's inception
• Acquired and organically originated over $17.5 billion in loans since easyfinancial's inception
• Adjusted return on equity¹ of 23.2%, down from 25.4%
• Fully drawn weighted average cost of borrowing at 6.1%, down from 6.8%
• Debt to adjusted tangible equity⁴ of 3.56x on June 30, 2025

Six Months Results

For the first six months of 2025, the Company funded $1.58 billion in loan originations, up 5% from $1.51 billion in the same period of 2024. The consumer loans receivable portfolio finished at $5.10 billion, up 23% from $4.14 billion as of June 30, 2024. The annualized net charge off rate for the first six months of 2025, as a result of stable credit and payment performance, was 8.8%, down 40 bps from 9.2% in the same period of 2024.

For the first six months of 2025, the Company produced record revenues of $810 million, up 10% compared to $735 million in the same period of 2024. Operating income for the period was a record $306 million compared with $285 million in the first six months of 2024, an increase of $21 million or 7%. Adjusted operating income² for the first six months of 2025 was a record $313 million, 5% higher compared to $297 million in the same period of 2024. Efficiency ratio¹ for the first six months of 2025 was 25.8%, an improvement of 130 bps from 27.1% in the same period of 2024.

Net income for the first six months of 2025 was $126 million and diluted earnings per share was $7.48 compared with $124 million or $7.17 per share. Adjusted net income² for the first six months of 2025 was $128 million and adjusted diluted earnings per share¹ was $7.63, compared with $138 million or $7.94 per share, decreases of 7% and 4%, respectively. Reported return on equity was 21.2%, while adjusted return on equity¹ was 21.6%, down from 25.0% in the same period of 2024.

Balance Sheet and Liquidity

Total assets were $5.63 billion as of June 30, 2025, an increase of 22% from $4.63 billion as of June 30, 2024, primarily driven by growth in consumer loans receivable.

Free cash flow from operations before net growth in gross consumer loans receivable² in the quarter was $35 million compared to $93 million in the second quarter of 2024. Based on the cash on hand at the end of the quarter and the borrowing capacity under the Company's existing revolving credit facilities, the Company has approximately $1.74 billion in total funding capacity as of August 1, 2025 and a debt to adjusted tangible equity ratio of 3.56x as of June 30, 2025. The Company remains confident that the capacity available under its existing funding facilities, and its ability to raise additional debt financing, is sufficient to fund its organic growth forecast.  

At quarter-end, the Company's weighted average cost of borrowing was 6.7%, and the fully drawn weighted average cost of borrowing was 6.1%. The Company estimates that it could currently grow the consumer loan portfolio by approximately $350 million per year solely from internal cash flows, without utilizing external debt. The Company also estimates that once its existing and available sources of debt are fully utilized, it could continue to grow the loan portfolio by approximately $500 million per year solely from internal cash flows.

Dividend

The Board of Directors has approved a quarterly dividend of $1.46 per share payable on October 10, 2025 to the holders of common shares of record as at the close of business on September 26, 2025.

Forward-Looking Statements

All figures reported above with respect to outlook are targets established by the Company and are subject to change as plans and business conditions vary. Accordingly, investors are cautioned not to place undue reliance on the foregoing guidance. Actual results may differ materially.

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 and the continued development of the type and size of competitors in the market. 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"), 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.

About goeasy

goeasy Ltd. is a Canadian company, headquartered in Mississauga, Ontario, that provides non-prime leasing and lending services through its easyhome, easyfinancial and LendCare brands. Supported by over 2,600 employees, the Company offers a wide variety of financial products and services including unsecured and secured instalment loans, merchant financing through a variety of verticals and lease-to-own merchandise. Customers can transact seamlessly through an omni-channel model that includes online and mobile platforms, over 400 locations across Canada, and point-of-sale financing offered in the retail, powersports, automotive, home improvement and healthcare verticals, through approximately 11,200  merchant partners across Canada. Throughout the Company's history, it has acquired and organically served approximately 1.6 million Canadians and originated over $17.5 billion in loans.

Accredited by the Better Business Bureau, goeasy is the proud recipient of several awards in recognition of its exceptional culture and continued business growth including inclusion in TIME Magazine's inaugural list of Canada's Best Companies, 2024 Best Workplaces™ in Financial Services & Insurance, Waterstone Canada's Most Admired Corporate Cultures, ranking on the 2022 Report on Business Women Lead Here executive gender diversity benchmark, placing on the 2024 Report on Business ranking of Canada's Top Growing Companies, ranking on the TSX30, Greater Toronto Top Employers Award and has been certified as a Great Place to Work®. The Company is represented by a diverse group of team members from over 90 nationalities who believe strongly in giving back to communities in which it operates. To date, goeasy has raised and donated over $6.5 million to support its long-standing partnerships with BGC Canada and many other local charities.

goeasy Ltd.'s. common shares are listed on the TSX under the trading symbol "GSY". goeasy is rated BB- with a stable trend from S&P and Ba3 with a stable trend from Moody's.

For more information about goeasy and our business units, visit www.goeasy.com, www.easyfinancial.com, www.lendcare.ca,  www.easyhome.ca.

For further information contact:

James Obright
Senior Vice President, Investor Relations & Capital Markets
[phone]

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 supplementary financial measures. Refer to "Non-IFRS Measures and Other Financial Measures" section in this press release.

⁴ These are capital management measures. Refer to "Non-IFRS Measures and Other Financial Measures" section in this press release.

⁵ Non-IFRS ratios, non-IFRS measures, supplementary financial measures and capital management measures are not determined in accordance with IFRS, do not have standardized meanings and may not be comparable to similar financial measures presented by other companies.

goeasy Ltd.
INTERIM CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
(Unaudited)
(Expressed in thousands of Canadian dollars)
			As At	As At
			June 30,	December 31,
			2025	2024
ASSETS
Cash			254,494	251,381
Accounts receivable			42,032	42,438
Prepaid expenses			10,346	9,488
Consumer loans receivable, net			4,858,147	4,366,533
Investments			41,918	41,918
Lease assets			37,485	40,973
Derivative financial assets			6,188	60,675
Deferred income tax assets, net			5,404	-
Property and equipment, net			32,270	35,004
Right-of-use assets, net			51,577	54,224
Intangible assets, net			105,603	110,979
Goodwill			180,923	180,923
TOTAL ASSETS			5,626,387	5,194,536
LIABILITIES AND SHAREHOLDERS' EQUITY
Liabilities
Revolving credit facility			170,924	21,797
Accounts payable and other liabilities			75,681	156,903
Income taxes payable			3,109	24,567
Dividends payable			23,461	19,519
Unearned revenue			28,122	25,864
Accrued interest payable			55,178	49,003
Deferred income tax liabilities, net			-	4,184
Lease liabilities			59,025	62,164
Secured borrowings			97,795	120,335
Revolving securitization warehouse facilities			987,112	1,073,876
Derivative financial liabilities			90,223	21,466
Notes payable			2,823,448	2,413,795
TOTAL LIABILITIES			4,414,078	3,993,473
Shareholders' equity
Share capital			424,240	438,302
Contributed surplus			34,856	26,942
Accumulated other comprehensive loss			(36,565)	(56,938)
Retained earnings			789,778	792,757
TOTAL SHAREHOLDERS' EQUITY			1,212,309	1,201,063
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY			5,626,387	5,194,536

goeasy Ltd.
INTERIM CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(Unaudited)
(Expressed in thousands of Canadian dollars, except earnings per share)
	Three Months Ended		Six Months Ended
	June 30,	June 30,	June 30,	June 30,
	2025	2024	2025	2024
REVENUE
Interest income	315,485	274,722	611,314	534,794
Lease revenue	21,822	24,014	44,064	48,755
Commissions earned	73,621	70,967	141,808	134,931
Charges and fees	7,383	8,092	12,986	16,429
	418,311	377,795	810,172	734,909
OPERATING EXPENSES
BAD DEBTS	136,383	112,499	267,406	217,694
OTHER OPERATING EXPENSES
Salaries and benefits	52,112	54,569	101,575	107,019
Share-based compensation	5,706	4,338	10,147	8,590
Technology costs	12,583	9,990	24,803	18,330
Advertising and promotion	8,338	9,166	17,024	16,940
Underwriting and collections	8,671	5,189	15,833	9,891
Occupancy	5,330	5,168	11,002	10,494
Other expenses	7,567	8,664	15,248	19,150
	100,307	97,084	195,632	190,414
DEPRECIATION AND AMORTIZATION
Depreciation of lease assets	6,947	7,242	13,930	14,322
Amortization of intangible assets	5,655	5,885	11,301	11,727
Depreciation of right-of-use assets	5,292	5,348	10,589	10,754
Depreciation of property and equipment	2,665	2,527	5,262	5,077
	20,559	21,002	41,082	41,880
TOTAL OPERATING EXPENSES	257,249	230,585	504,120	449,988
OPERATING INCOME	161,062	147,210	306,052	284,921
OTHER LOSS	-	(2,740)	-	(7,138)
FINANCE COSTS	(43,033)	(54,684)	(132,684)	(105,997)
INCOME BEFORE INCOME TAXES	118,029	89,786	173,368	171,786
INCOME TAX EXPENSE (RECOVERY)
Current	32,986	27,477	63,952	52,334
Deferred	(1,500)	(3,092)	(16,526)	(4,893)
	31,486	24,385	47,426	47,441
NET INCOME	86,543	65,401	125,942	124,345
BASIC EARNINGS PER SHARE	5.25	3.82	7.57	7.29
DILUTED EARNINGS PER SHARE	5.19	3.76	7.48	7.17

SUMMARY OF FINANCIAL RESULTS BY REPORTABLE SEGMENT
(Expressed in thousands of Canadian dollars, except earnings per share)
	Three Months Ended June 30, 2025
	easyfinancial	easyhome	Corporate	Total
Revenue
Interest income	304,358	11,127	-	315,485
Lease revenue	-	21,822	-	21,822
Commissions earned	69,812	3,809	-	73,621
Charges and fees	6,684	699	-	7,383
	380,854	37,457	-	418,311
Operating expenses
Bad debts	131,070	5,313	-	136,383
Other operating expenses	64,178	13,252	22,877	100,307
Depreciation and amortization	9,954	8,967	1,638	20,559
	205,202	27,532	24,515	257,249
Operating income (loss)	175,652	9,925	(24,515)	161,062
Other income				-
Finance costs				(43,033)
Income before income taxes				118,029
Income taxes				31,486
Net income				86,543
Diluted earnings per share				5.19
	Three Months Ended June 30, 2024
	easyfinancial	easyhome	Corporate	Total
Revenue
Interest income	264,799	9,923	-	274,722
Lease revenue	-	24,014	-	24,014
Commissions earned	67,418	3,549	-	70,967
Charges and fees	7,294	798	-	8,092
	339,511	38,284	-	377,795
Operating expenses
Bad debts	109,530	2,969	-	112,499
Other operating expenses	55,265	14,002	27,817	97,084
Depreciation and amortization	9,872	9,426	1,704	21,002
	174,667	26,397	29,521	230,585
Operating income (loss)	164,844	11,887	(29,521)	147,210
Other loss				(2,740)
Finance costs				(54,684)
Income before income taxes				89,786
Income taxes				24,385
Net income				65,401
Diluted earnings per share				3.76
	Six Months Ended June 30, 2025
	easyfinancial	easyhome	Corporate	Total
Revenue
Interest income	589,704	21,610	-	611,314
Lease revenue	-	44,064	-	44,064
Commissions earned	134,437	7,371	-	141,808
Charges and fees	11,532	1,454	-	12,986
	735,673	74,499	-	810,172
Operating expenses
Bad debts	257,537	9,869	-	267,406
Other operating expenses	125,704	27,177	42,751	195,632
Depreciation and amortization	19,690	18,030	3,362	41,082
	402,931	55,076	46,113	504,120
Operating income (loss)	332,742	19,423	(46,113)	306,052
Other income				-
Finance costs				(132,684)
Income before income taxes				173,368
Income taxes				47,426
Net income				125,942
Diluted earnings per share				7.48
	Six Months Ended June 30, 2024
	easyfinancial	easyhome	Corporate	Total
Revenue
Interest income	514,938	19,856	-	534,794
Lease revenue	-	48,755	-	48,755
Commissions earned	127,912	7,019	-	134,931
Charges and fees	14,717	1,712	-	16,429
	657,567	77,342	-	734,909
Operating expenses
Bad debts	210,833	6,861	-	217,694
Other operating expenses	107,276	28,564	54,574	190,414
Depreciation and amortization	19,747	18,709	3,424	41,880
	337,856	54,134	57,998	449,988
Operating income (loss)	319,711	23,208	(57,998)	284,921
Other loss				(7,138)
Finance costs				(105,997)
Income before income taxes				171,786
Income taxes				47,441
Net income				124,345
Diluted earnings per share				7.17

SUMMARY OF FINANCIAL RESULTS AND KEY PERFORMANCE INDICATORS
(Expressed in thousands of Canadian dollars, except earnings per share and percentages)
	Three Months Ended
	June 30,	June 30,	Variance	Variance
	2025	2024	$ / bps	% change
Summary Financial Results
Revenue	418,311	377,795	40,516	10.7 %
Bad debts	136,383	112,499	23,884	21.2 %
Other operating expenses	100,307	97,084	3,223	3.3 %
EBITDA^1	174,674	158,230	16,444	10.4 %
EBITDA margin^1	41.8 %	41.9 %	(10 bps)	(0.2 %)
Depreciation and amortization	20,559	21,002	(443)	(2.1 %)
Operating income	161,062	147,210	13,852	9.4 %
Operating margin	38.5 %	39.0 %	(50 bps)	(1.3 %)
Other loss	-	(2,740)	2,740	(100.0 %)
Finance costs	43,033	54,684	(11,651)	(21.3 %)
Effective income tax rate	26.7 %	27.2 %	(50 bps)	(1.8 %)
Net income	86,543	65,401	21,142	32.3 %
Diluted earnings per share	5.19	3.76	1.43	38.0 %
Return on receivables	7.0 %	6.5 %	50 bps	7.7 %
Return on assets	6.3 %	5.8 %	50 bps	8.6 %
Return on equity	29.3 %	23.3 %	600 bps	25.8 %
Return on tangible common equity^1	37.7 %	31.0 %	670 bps	21.6 %
Adjusted Financial Results^1
Other operating expenses	107,162	101,807	5,355	5.3 %
Efficiency ratio	25.6 %	26.9 %	(130 bps)	(4.8 %)
Operating income	164,429	153,004	11,425	7.5 %
Operating margin	39.3 %	40.5 %	(120 bps)	(3.0 %)
Net income	68,457	71,332	(2,875)	(4.0 %)
Diluted earnings per share	4.11	4.10	0.01	0.2 %
Return on receivables	5.5 %	7.1 %	(160 bps)	(22.5 %)
Return on assets	5.0 %	6.3 %	(130 bps)	(20.6 %)
Return on equity	23.2 %	25.4 %	(220 bps)	(8.7 %)
Return on tangible common equity	29.0 %	32.6 %	(360 bps)	(11.0 %)
Key Performance Indicators
Segment Financials
easyfinancial revenue	380,854	339,511	41,343	12.2 %
easyfinancial operating margin	46.1 %	48.6 %	(250 bps)	(5.1 %)
easyhome revenue	37,457	38,284	(827)	(2.2 %)
easyhome operating margin	26.5 %	31.0 %	(450 bps)	(14.5 %)
Portfolio Indicators
Gross consumer loans receivable	5,099,726	4,138,155	961,571	23.2 %
Growth in consumer loans receivable	313,201	286,076	27,125	9.5 %
Gross loan originations	903,719	826,659	77,060	9.3 %
Total yield on consumer loans (including ancillary products)^1	31.8 %	34.9 %	(310 bps)	(8.9 %)
Net charge offs as a percentage of average gross consumer loans receivable	8.8 %	9.3 %	(50 bps)	(5.4 %)
Free cash flows from operations before net growth in gross consumer loans receivable^1	34,748	93,084	(58,336)	(62.7 %)
Potential monthly leasing revenue^1	6,478	7,254	(776)	(10.7 %)

¹ EBITDA, adjusted other operating expenses, adjusted operating income, adjusted net income and free cash flows from operations before net growth in gross consumer loans receivable are
non-IFRS measures. EBITDA margin, efficiency ratio, adjusted operating margin, adjusted diluted earnings per share, adjusted return on receivables, adjusted return on equity,  adjusted return
on assets, reported and adjusted return on tangible common equity 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.

	Six Months Ended
	June 30,	June 30,	Variance	Variance
	2025	2024	$ / bps	% change
Summary Financial Results
Revenue	810,172	734,909	75,263	10.2 %
Bad debts	267,406	217,694	49,712	22.8 %
Other operating expenses	195,632	190,414	5,218	2.7 %
EBITDA^1	333,204	305,341	27,863	9.1 %
EBITDA margin^1	41.1 %	41.5 %	(40 bps)	(1.0 %)
Depreciation and amortization	41,082	41,880	(798)	(1.9 %)
Operating income	306,052	284,921	21,131	7.4 %
Operating margin	37.8 %	38.8 %	(100 bps)	(2.6 %)
Other loss	-	(7,138)	7,138	(100.0 %)
Finance costs	132,684	105,997	26,687	25.2 %
Effective income tax rate	27.4 %	27.6 %	(20 bps)	(0.7 %)
Net income	125,942	124,345	1,597	1.3 %
Diluted earnings per share	7.48	7.17	0.31	4.3 %
Return on receivables	5.2 %	6.4 %	(120 bps)	(18.8 %)
Return on assets	4.7 %	5.6 %	(90 bps)	(16.1 %)
Return on equity	21.2 %	22.6 %	(140 bps)	(6.2 %)
Return on tangible common equity^1	27.6 %	30.3 %	(270 bps)	(8.9 %)
Adjusted Financial Results^1
Other operating expenses	209,378	199,492	9,886	5.0 %
Efficiency ratio	25.8 %	27.1 %	(130 bps)	(4.8 %)
Operating income	312,786	296,715	16,071	5.4 %
Operating margin	38.6 %	40.4 %	(180 bps)	(4.5 %)
Net income	128,496	137,620	(9,124)	(6.6 %)
Diluted earnings per share	7.63	7.94	(0.31)	(3.9 %)
Return on receivables	5.3 %	7.0 %	(170 bps)	(24.3 %)
Return on assets	4.8 %	6.3 %	(150 bps)	(23.8 %)
Return on equity	21.6 %	25.0 %	(340 bps)	(13.6 %)
Return on tangible common equity	27.1 %	32.3 %	(520 bps)	(16.1 %)
Key Performance Indicators
Segment Financials
easyfinancial revenue	735,673	657,567	78,106	11.9 %
easyfinancial operating margin	45.2 %	48.6 %	(340 bps)	(7.0 %)
easyhome revenue	74,499	77,342	(2,843)	(3.7 %)
easyhome operating margin	26.1 %	30.0 %	(390 bps)	(13.0 %)
Portfolio Indicators
Gross consumer loans receivable	5,099,726	4,138,155	961,571	23.2 %
Growth in consumer loans receivable	503,611	492,953	10,658	2.2 %
Gross loan originations	1,580,487	1,513,092	67,395	4.5 %
Total yield on consumer loans (including ancillary products)^1	31.5 %	34.9 %	(340 bps)	(9.7 %)
Net charge offs as a percentage of average gross consumer loans receivable	8.8 %	9.2 %	(40 bps)	(4.3 %)
Free cash flows from operations before net growth in gross consumer loans receivable^1	65,988	170,226	(104,238)	(61.2 %)
Potential monthly leasing revenue^1	6,478	7,254	(776)	(10.7 %)

¹ EBITDA, adjusted other operating expenses, adjusted operating income, adjusted net income and free cash flows from operations before net growth in gross consumer loans receivable are non-IFRS measures. EBITDA margin, efficiency ratio, adjusted operating margin, adjusted diluted earnings per share, adjusted return on receivables, adjusted return on equity,  adjusted return on assets, reported and adjusted return on tangible common equity 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 and Adjusted Diluted Earnings 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 30 of the Company's MD&A for the three and six-month periods ended June 30, 2025. Items used to calculate adjusted net income and adjusted earnings per share for the three and six-month periods ended June 30, 2025 and 2024 include those indicated in the chart below:

	Three Months Ended		Six Months Ended
($ in 000's except earnings per share)	June 30, 2025	June 30, 2024	June 30, 2025	June 30, 2024
Net income as stated	86,543	65,401	125,942	124,345
Impact of adjusting items
Other operating expenses
Integration costs^1	92	132	184	314
Advisory costs^3	-	2,387	-	4,930
Depreciation and amortization
Amortization of acquired intangible assets^2	3,275	3,275	6,550	6,550
Other loss^4	-	2,740	-	7,138
Finance costs
Fair value change on prepayment options related to Notes Payable^5	(27,974)	(960)	(3,260)	(2,158)
Total pre-tax impact of adjusting items	(24,607)	7,574	3,474	16,774
Income tax impact of above     adjusting items	6,521	(1,643)	(920)	(3,499)
After-tax impact of adjusting items	(18,086)	5,931	2,554	13,275
Adjusted net income	68,457	71,332	128,496	137,620
Weighted average number of diluted shares outstanding	16,672	17,377	16,832	17,339
Diluted earnings per share as stated	5.19	3.76	7.48	7.17
Per share impact of adjusting items	(1.08)	0.34	0.15	0.77
Adjusted diluted earnings per share	4.11	4.10	7.63	7.94

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 and six-month periods ended June 30, 2024 were related to non-recurring advisory, consulting and legal costs.

Adjusting item related to other loss

⁴ For the three and six-month periods ended June 30, 2024, net investment loss was due to fair value changes in the Company's investments.

Adjusting item related to prepayment options embedded in the Notes Payable

⁵ For the three and six-month periods ended June 30, 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 30 of the Company's MD&A for the three and six-month periods ended June 30, 2025. Items used to calculate adjusted other operating expenses and efficiency ratio for the three and six-month periods ended June 30, 2025 and 2024 include those indicated in the chart below:

	Three Months Ended		Six Months Ended
($ in 000's except earnings per share)	June 30, 2025	June 30, 2024	June 30, 2025	June 30, 2024
Other operating expenses as stated	100,307	97,084	195,632	190,414
Impact of adjusting items^1
Other operating expenses
Integration costs	(92)	(132)	(184)	(314)
Advisory costs	-	(2,387)	-	(4,930)
Depreciation and amortization
Depreciation of lease assets	6,947	7,242	13,930	14,322
Total impact of adjusting items	6,855	4,723	13,746	9,078
Adjusted other operating expenses	107,162	101,807	209,378	199,492
Total revenue	418,311	377,795	810,172	734,909
Efficiency ratio	25.6 %	26.9 %	25.8 %	27.1 %

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 income 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 30 of the Company's MD&A for the three and six-month periods ended June 30, 2025. Items used to calculate adjusted operating income and adjusted operating margins for the three and six-month periods ended June 30, 2025 and 2024 include those indicated in the chart below:

	Three Months Ended
($ in 000's except percentages)	June 30, 2025	June 30, 2025 (adjusted)	June 30, 2024	June 30, 2024 (adjusted)
easyfinancial
Operating income	175,652	175,652	164,844	164,844
Divided by revenue	380,854	380,854	339,511	339,511
easyfinancial operating margin	46.1 %	46.1 %	48.6 %	48.6 %
easyhome
Operating income	9,925	9,925	11,887	11,887
Divided by revenue	37,457	37,457	38,284	38,284
easyhome operating margin	26.5 %	26.5 %	31.0 %	31.0 %
Total
Operating income	161,062	161,062	147,210	147,210
Other operating expenses^1
Integration costs	-	92	-	132
Advisory costs	-	-	-	2,387
Depreciation and amortization^1
Amortization of acquired intangible assets	-	3,275	-	3,275
Adjusted operating income	161,062	164,429	147,210	153,004
Divided by revenue	418,311	418,311	377,795	377,795
Total operating margin	38.5 %	39.3 %	39.0 %	40.5 %

¹ For explanation of adjusting items, refer to the corresponding "Adjusted Net Income and Adjusted Diluted Earnings Per Share" section.

	Six Months Ended
($ in 000's except percentages)	June 30, 2025	June 30, 2025 (adjusted)	June 30, 2024	June 30, 2024 (adjusted)
easyfinancial
Operating income	332,742	332,742	319,711	319,711
Divided by revenue	735,673	735,673	657,567	657,567
easyfinancial operating margin	45.2 %	45.2 %	48.6 %	48.6 %
easyhome
Operating income	19,423	19,423	23,208	23,208
Divided by revenue	74,499	74,499	77,342	77,342
easyhome operating margin	26.1 %	26.1 %	30.0 %	30.0 %
Total
Operating income	306,052	306,052	284,921	284,921
Other operating expenses^1
Integration costs	-	184	-	314
Advisory costs	-	-	-	4,930
Depreciation and amortization^1
Amortization of acquired intangible assets	-	6,550	-	6,550
Adjusted operating income	306,052	312,786	284,921	296,715
Divided by revenue	810,172	810,172	734,909	734,909
Total operating margin	37.8 %	38.6 %	38.8 %	40.4 %

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 and EBITDA margin is a non-IFRS ratio. Refer to "Key Performance Indicators and Non-IFRS Measures" section on page 30 of the Company's MD&A for the three and six-month periods ended June 30, 2025. Items used to calculate EBITDA and EBITDA margin for the three and six-month periods ended June 30, 2025 and 2024 include those indicated in the chart below:

	Three Months Ended		Six Months Ended
($ in 000's except percentages)	June 30, 2025	June 30, 2024	June 30, 2025	June 30, 2024
Net income as stated	86,543	65,401	125,942	124,345
Finance cost	43,033	54,684	132,684	105,997
Income tax expense	31,486	24,385	47,426	47,441
Depreciation and amortization	20,559	21,002	41,082	41,880
Depreciation of lease assets	(6,947)	(7,242)	(13,930)	(14,322)
EBITDA	174,674	158,230	333,204	305,341
Divided by revenue	418,311	377,795	810,172	734,909
EBITDA margin	41.8 %	41.9 %	41.1 %	41.5 %

Free Cash Flow from Operations before Net Growth in Gross Consumer Loans Receivable

Free cash flow from operations before net growth in gross consumer loans receivable is a non-IFRS measure. Refer to "Key Performance Indicators and Non-IFRS Measures" section on page 30 of the Company's MD&A for the three and six-month periods ended June 30, 2025. Items used to calculate free cash flow from operations before net growth in gross consumer loans receivable for the three and six-month periods ended June 30, 2025 and 2024 include those indicated in the chart below:

	Three Months Ended		Six Months Ended
	June 30, 2024	June 30, 2023	June 30, 2024	June 30, 2023
Cash used in operating activities	(278,453)	(192,992)	(437,623)	(322,727)
Net growth in gross consumer loans receivable during the period	313,201	286,076	503,611	492,953
Free cash flows from operations before net growth in gross consumer loans receivable	34,748	93,084	65,988	170,226

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 30 of the Company's MD&A for the three and six-month period ended June 30, 2025. Items used to calculate adjusted return on assets for the three and six-month periods ended June 30, 2025 and 2024 include those indicated in the chart below:

	Three Months Ended
($ in 000's except percentages)	June 30, 2025	June 30, 2025  (adjusted)	June 30, 2024	June 30, 2024  (adjusted)
Net income as stated	86,543	86,543	65,401	65,401
After-tax impact of adjusting items^1	-	(18,086)	-	5,931
Adjusted net income	86,543	68,457	65,401	71,332
Multiplied by number of periods in a year	X 4	X 4	X 4	X 4
Divided by average gross consumer loans receivable	4,977,757	4,977,757	4,041,884	4,041,884
Return on receivables	7.0 %	5.5 %	6.5 %	7.1 %

¹ For explanation of adjusting items, refer to the corresponding "Adjusted Net Income and Adjusted Diluted Earnings Per Share" section.

	Six Months Ended
($ in 000's except percentages)	June 30, 2025	June 30, 2025  (adjusted)	June 30, 2024	June 30, 2024  (adjusted)
Net income as stated	125,942	125,942	124,345	124,345
After-tax impact of adjusting items^1	-	2,554	-	13,275
Adjusted net income	125,942	128,496	124,345	137,620
Multiplied by number of periods in a year	X 4/2	X 4/2	X 4/2	X 4/2
Divided by average gross consumer loans receivable	4,843,751	4,843,751	3,910,097	3,910,097
Return on receivables	5.2 %	5.3 %	6.4 %	7.0 %

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 30 of the Company's MD&A for the three and six-month period ended June 30, 2025. Items used to calculate adjusted return on assets for the three and six-month periods ended June 30, 2025 and 2024 include those indicated in the chart below:

	Three Months Ended
($ in 000's except percentages)	June 30, 2025	June 30, 2025  (adjusted)	June 30, 2024	June 30, 2024  (adjusted)
Net income as stated	86,543	86,543	65,401	65,401
After-tax impact of adjusting items^1	-	(18,086)	-	5,931
Adjusted net income	86,543	68,457	65,401	71,332
Multiplied by number of periods in a year	X 4	X 4	X 4	X 4
Divided by average total assets for the period	5,447,957	5,447,957	4,520,809	4,520,809
Return on assets	6.3 %	5.0 %	5.8 %	6.3 %

¹ For explanation of adjusting items, refer to the corresponding "Adjusted Net Income and Adjusted Diluted Earnings Per Share" section.

	Six Months Ended
($ in 000's except percentages)	June 30, 2025	June 30, 2025  (adjusted)	June 30, 2024	June 30, 2024  (adjusted)
Net income as stated	125,942	125,942	124,345	124,345
After-tax impact of adjusting items^1	-	2,554	-	13,275
Adjusted net income	125,942	128,496	124,345	137,620
Multiplied by number of periods in a year	X 4/2	X 4/2	X 4/2	X 4/2
Divided by average total assets for the period	5,383,483	5,383,483	4,401,928	4,401,928
Return on assets	4.7 %	4.8 %	5.6 %	6.3 %

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 30 of the Company's MD&A for the three and six-month periods ended June 30, 2025. Items used to calculate adjusted return on equity for the three and six-month periods ended June 30, 2025 and 2024 include those indicated in the chart below:

	Three Months Ended
($ in 000's except percentages)	June 30, 2025	June 30, 2025  (adjusted)	June 30, 2024	June 30, 2024 (adjusted)
Net income as stated	86,543	86,543	65,401	65,401
After-tax impact of adjusting items^1	-	(18,086)	-	5,931
Adjusted net income	86,543	68,457	65,401	71,332
Multiplied by number of periods in a year	X 4	X 4	X 4	X 4
Divided by average shareholders' equity for the period	1,182,362	1,182,362	1,124,055	1,124,055
Return on equity	29.3 %	23.2 %	23.3 %	25.4 %

¹ For explanation of adjusting items, refer to the corresponding "Adjusted Net Income and Adjusted Diluted Earnings Per Share" section.

	Six Months Ended
($ in 000's except percentages)	June 30, 2025	June 30, 2025  (adjusted)	June 30, 2024	June 30, 2024 (adjusted)
Net income as stated	125,942	125,942	124,345	124,345
After-tax impact of adjusting items^1	-	2,554	-	13,275
Adjusted net income	125,942	128,496	124,345	137,620
Multiplied by number of periods in a year	X 4/2	X 4/2	X 4/2	X 4/2
Divided by average shareholders' equity for the period	1,188,596	1,188,596	1,100,729	1,100,729
Return on equity	21.2 %	21.6 %	22.6 %	25.0 %

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 30 of the Company's MD&A for the three and six-month periods ended June 30, 2025. Items used to calculate reported and adjusted return on tangible common equity for the three and six-month periods ended June 30, 2025 and 2024 include those indicated in the chart below:

	Three Months Ended
($ in 000's except percentages)	June 30, 2025	June 30, 2025  (adjusted)	June 30, 2024	June 30, 2024  (adjusted)
Net income as stated	86,543	86,543	65,401	65,401
Amortization of acquired intangible assets	3,275	3,275	3,275	3,275
Income tax impact of the above item	(868)	(868)	(868)	(868)
Net income before amortization of acquired intangible assets, net of income tax	88,950	88,950	67,808	67,808
Impact of adjusting items^1
Other operating expenses
Integration costs	-	92	-	132
Advisory costs	-	-	-	2,387
Other loss	-	-	-	2,740
Finance costs
Fair value change on prepayment options related to Notes Payable	-	(27,974)	-	(960)
Total pre-tax impact of adjusting items	-	(27,882)	-	4,299
Income tax impact of above adjusting items		7,389	-	(775)
After-tax impact of adjusting items	-	(20,493)	-	3,524
Adjusted net income	88,950	68,457	67,808	71,332
Multiplied by number of periods in a year	X 4	X 4	X 4	X 4
Average shareholders' equity	1,182,362	1,182,362	1,124,055	1,124,055
Average goodwill	(180,923)	(180,923)	(180,923)	(180,923)
Average acquired intangible assets^2	(78,054)	(78,054)	(91,154)	(91,154)
Average related deferred tax liabilities	20,684	20,684	24,156	24,156
Divided by average tangible common equity	944,069	944,069	876,134	876,134
Return on tangible common equity	37.7 %	29.0 %	31.0 %	32.6 %

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.

	Six Months Ended
($ in 000's except percentages)	June 30, 2025	June 30, 2025  (adjusted)	June 30, 2024	June 30, 2024  (adjusted)
Net income as stated	125,942	125,942	124,345	124,345
Amortization of acquired intangible assets	6,550	6,550	6,550	6,550
Income tax impact of the above item	(1,736)	(1,736)	(1,736)	(1,736)
Net income before amortization of acquired intangible assets, net of income tax	130,756	130,756	129,159	129,159
Impact of adjusting items^1
Other operating expenses
Integration costs	-	184	-	314
Advisory costs	-	-	-	4,930
Other loss	-	-	-	7,138
Finance costs
Fair value change on prepayment options related to Notes Payable	-	(3,260)	-	(2,158)
Total pre-tax impact of adjusting items	-	(3,076)	-	10,224
Income tax impact of above adjusting items		816	-	(1,763)
After-tax impact of adjusting items	-	(2,260)	-	8,461
Adjusted net income	130,756	128,496	129,159	137,620
Multiplied by number of periods in a year	X 4/2	X 4/2	X 4/2	X 4/2
Average shareholders' equity	1,188,596	1,188,596	1,100,729	1,100,729
Average goodwill	(180,923)	(180,923)	(180,923)	(180,923)
Average acquired intangible assets^2	(79,692)	(79,692)	(92,792)	(92,792)
Average related deferred tax liabilities	21,118	21,118	24,590	24,590
Divided by average tangible common equity	949,099	949,099	851,604	851,604
Return on tangible common equity	27.6 %	27.1 %	30.3 %	32.3 %

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.

easyhome Financial Revenue

easyhome financial revenue is a non-IFRS measure. It's 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 June 30, 2025 and 2024 include those indicated in the chart below:

($ in 000's)	Three Months Ended
	June 30, 2025	June 30, 2024
Total company revenue	418,311	377,795
Less: easyfinancial revenue	(380,854)	(339,511)
Less: leasing revenue	(23,059)	(25,408)
easyhome financial revenue	14,398	12,876

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 19 of the Company's MD&A for the three and six-month period ended June 30, 2025. Items used to calculate total yield on consumer loans as a percentage of average gross consumer loans receivable for the three and six-month periods ended June 30, 2025 and 2024 include those indicated in the chart below:

	Three Months Ended		Six Months Ended
($ in 000's except percentages)	June 30, 2025	June 30, 2024	June 30, 2025	June 30, 2024
Total Company revenue	418,311	377,795	810,172	734,909
Less: Leasing revenue	(23,059)	(25,408)	(46,574)	(51,657)
Financial revenue	395,252	352,387	763,598	683,252
Multiplied by number of periods in a year	X 4	X 4	X 4/2	X 4/2
Divided by average gross consumer loans receivable	4,977,757	4,041,884	4,843,751	3,910,097
Total yield on consumer loans as a percentage of average gross consumer loans receivable (annualized)	31.8 %	34.9 %	31.5 %	34.9 %

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 19 of the Company's MD&A for the three and six-month period ended June 30, 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 and six-month periods ended June 30, 2025 and 2024 include those indicated in the chart below:

	Three Months Ended		Six Months Ended
($ in 000's)	June 30, 2025	June 30, 2024	June 30, 2025	June 30, 2024
Gross loan originations	903,719	826,659	1,580,487	1,513,092
Loan originations to new customers	557,895	458,920	989,842	814,801
Loan originations to existing customers	345,824	367,739	590,645	698,291
Less: Proceeds applied to repay existing loans	(140,444)	(184,658)	(226,155)	(355,740)
Net advance to existing customers	205,380	183,081	364,490	342,551
Net principal written	763,275	642,001	1,354,332	1,157,352
Percentage net advances to new customers	73.1 %	71.5 %	73.1 %	70.4 %

Debt to Adjusted Tangible Equity

Debt to adjusted tangible equity is a capital management measure. Refer to "Financial Condition" section on page 42 of the Company's MD&A for the three and six-month periods ended June 30, 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