goeasy Ltd. Reports Results for the Second Quarter 2026

Gross Consumer Loans Receivable of $5.00 billion at Q2/26 end, down 2% from $5.11 billion at Q2/25

Revenue of $390 million in Q2/26, down 10% compared to $431 million in Q2/25

Net Charge Off Rate¹ of 16.7% in Q2/26, up 800 bps from 8.7% in Q2/25

Diluted Earnings Per Share of $0.96 in Q2/26, down from diluted EPS of $5.49 in Q2/25

Adjusted Diluted Earnings Per Share¹ of $1.02 in Q2/26, down from Adj. Dil. EPS¹ of $4.40 in Q2/25

MISSISSAUGA, ON, Aug. 6, 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 second quarter ended June 30, 2026.

"We continued to methodically execute our six-point action plan in the second quarter, including managing our origination activity to prioritize liquidity. Compared to the first quarter of 2026, we reduced our net charge off rate by 110 basis points and strengthened our debt-to-adjusted tangible equity ratio from 5.30x to 4.95x," said Patrick Ens, goeasy's Chief Executive Officer. "We generated $585.4 million cash from operating activities before net principal written, repaid the full $314.0 million balance outstanding on our revolving credit facility and regained access to incremental draws on that facility as of July 1. We believe in the strength and durability of our business, and the actions we took in the second quarter have helped to reestablish our financial foundation to prudently grow originations."

Second Quarter Results

During the quarter, the Company funded $272.1 million in gross loan originations, down 70% compared to $903.7 million in the second quarter of 2025. The decrease in lending, consistent with the Company's six-point action plan, was primarily due to a reduction in merchant-originated automotive and powersports loan originations attributable to the implementation of tighter credit underwriting measures as those portfolios continued to exhibit unfavourable credit risk performance, and a moderation in direct-to-consumer loan originations, implemented to manage the Company's liquidity.

Gross consumer loans receivable decreased 2% to $5.00 billion as at June 30, 2026 from $5.11 billion at the end of the second quarter of 2025, and decreased 7% from $5.36 billion at the end of the first quarter of 2026. The decrease in the Company's average consumer loans receivable and lower total yield on consumer loans (including ancillary products) were the main drivers of the 10% decrease in revenue from $431.3 million in the second quarter of 2025 to $390.0 million in the second quarter of 2026. Total yield on consumer loans (including ancillary products) realized by the Company on its average consumer loans receivable¹ was 28.3% in the quarter, down 340 bps from the same period in 2025, but up 40 bps from the first quarter of 2026. Total annualized yield decreased year-over-year mainly due to the impact of higher allowance for credit losses on interest receivable; credit tightening in merchant-originated loan originations and a moderate reduction in direct-to-consumer loan originations; the continued impact of the lowered maximum allowable rate of interest on the Company's unsecured lending product; and a higher proportion of larger dollar value loans, which have lower yields on certain ancillary products.

During the quarter, net charge offs as a percentage of average gross consumer loans receivable¹ was 16.7%, up 800 bps from 8.7% in the second quarter of 2025, but down 110 bps from the first quarter of 2026. Net charge offs as a percentage of average gross consumer loans receivable¹ increased year-over-year primarily due to higher charge offs in the merchant-originated automotive and powersports loan portfolios, higher charge offs in the direct-to-consumer portfolio and lower average gross consumer loans receivable.

The total allowance for credit losses on gross consumer loans increased to $499.5 million from $406.7 million as at June 30, 2025, mainly due to the Company's current view of collectability and an increase in the credit loss outlook for merchant-originated automotive and powersports loans. The rate of allowance for expected credit losses, defined as the allowance for credit losses on gross consumer loans receivable as a percentage of the ending gross consumer loans receivable, declined from 10.09% as at March 31, 2026 to 9.99% as at June 30, 2026, driven mainly by the favourable changes in the macroeconomic outlook incorporated into the Company's IFRS 9 expected credit loss model. For the three-month period ended June 30, 2026, the net change in allowance for credit losses on gross consumer loans was negative $41.6 million, compared to $21.0 million in the same period of 2025, a decrease of $62.6 million. This decrease was primarily driven by the release of provision for credit losses resulting from the decline in gross consumer loans receivable during the three-month period ended June 30, 2026, as discussed above.

Operating income for the second quarter of 2026 was $99.6 million, down 41% from $167.7 million in the second quarter of 2025. After adjusting for unusual and non-recurring items, the Company reported adjusted operating income² of $102.9 million, a decrease from $171.1 million in the second quarter of 2025. The efficiency ratio¹ for the second quarter of 2026 was 25.5%, relatively flat from 25.6% in the second quarter of 2025.

Net income for the second quarter of 2026 was $15.9 million, down from net income of $91.5 million in the second quarter of 2025. Diluted earnings per share was $0.96, down from diluted earnings per share of $5.49 reported in the second quarter of 2025. Adjusted net income² for the second quarter of 2026 was $16.8 million, down from adjusted net income² of $73.4 million in the second quarter of 2025. The decrease in adjusted net income was primarily driven by lower adjusted operating income from lower total yield on consumer loans (including ancillary products), elevated credit losses and a higher cost of borrowing. Adjusted diluted earnings per share¹ was $1.02, down from adjusted diluted earnings per share¹ of $4.40 in the second quarter of 2025.

Balance Sheet and Liquidity

Total assets were $5.48 billion as at June 30, 2026, a decrease of 3% from $5.63 billion as at June 30, 2025, related primarily to a $224.5 million decrease in net consumer loans receivable, driven by lower originations during the period, higher charge offs recognized from the fourth quarter of 2025 to the second quarter of 2026, and impairment of goodwill related to the LendCare cash-generating unit. Cash provided by operating activities before net principal written² in the second quarter of 2026 was $585.4 million, compared to $489.1 million in the second quarter of 2025. The Company's debt-to-adjusted tangible equity ratio³, a capital management measure for leverage, was 4.95x as at June 30, 2026, compared to 3.71x as at June 30, 2025 and 5.30x as at March 31, 2026. The average blended coupon interest rate for the Company's debt as at June 30, 2026 was 6.8%.

As at June 30, 2026, goeasy had liquidity (cash on hand plus unused contractual borrowing capacity) of $1.37 billion, of which $1.06 billion was not available to be drawn by the Company. On July 1, 2026, goeasy regained the ability to make incremental draws on its $550 million Revolving Credit Facility. In July 2026, the Company also received confirmation from the applicable lenders under its amended Revolving Securitization Facility I (the "Securitization Facility") that the audit report required under that facility had been accepted and the related condition precedent to regaining access to the Securitization Facility (which is one of two such conditions) had been fulfilled. The Company has also meaningfully advanced steps to replace the backup servicer under the Securitization Facility and does not expect any impediments to meeting this condition, completion of which will permit additional draws on the Securitization Facility. Discussions between the Company and its lenders have also been initiated to extend the Securitization Facility for one year, however these discussions are preliminary and there is no assurance that such an extension will be agreed upon nor certainty as to the timing or terms of such an extension. The Company was in compliance with all of its covenants (including financial covenants) under its Revolving Credit Facility as at June 30, 2026. The Company was not subject to financial covenant compliance, and was in compliance with all other applicable covenants, for the Securitization Facility as at June 30, 2026.  

Selected Additional Second Quarter Information
(June 30, 2026 relative to June 30, 2025, where applicable)

• 45% of gross consumer loans receivable secured, down from 48%
• Total number of active lending customers at 438,000, down 2%
• 62% of net loan advances¹ in the quarter were issued to new customers, down from 73%
• Weighted average interest rate⁴ on consumer loans of 26.3%, up from 26.1%
• 87.9% of gross consumer loans receivable, on a dollar-weighted basis, carried an interest rate less than or equal to a 35% Annual Percentage Rate, being the maximum allowable interest rate for new loans written after January 1, 2025

Six Months Results

For the first six months of 2026, the Company funded $823.4 million in loan originations, down 48% from $1.58 billion in the same period of 2025. Total yield on consumer loans (including ancillary products) realized by the Company on its average consumer loans receivable¹ was 28.1% in the first six months of 2026, down 340 bps from the same period in 2025. Net charge offs for the first six months of 2026, as a percentage of average gross consumer loans receivable¹, was 17.3%, up 850 bps from 8.8% in the same period of 2025.

For the first six months of 2026, the Company produced revenues of $802.9 million, down 4% compared to $836.3 million in the same period of 2025. Operating income for the period was $128.5 million compared with $311.8 million in the first six months of 2025, a decrease of $183.3 million or 59%. Adjusted operating income² for the first six months of 2026 was $139.8 million, 56% lower compared to $318.5 million in the same period of 2025. Efficiency ratio¹ for the first six months of 2026 was 25.0%, an improvement of 90 bps from 25.9% in the same period of 2025.

Net loss for the first six months of 2026 was $37.1 million and diluted loss per share was $2.26 compared with net income of $130.2 million or $7.73 per share in the same period of 2025. Adjusted net loss² for the first six months of 2026 was $14.5 million and adjusted diluted loss per share¹ was $0.88, compared with adjusted net income² of $132.7 million or $7.88 per share, both decreases of 111%.

Updated 2026 Outlook

The Company's Q2 2026 outlook, and the relevant assumptions and risk factors, were disclosed in its March 31, 2026 MD&A. The Company's actual second quarter performance was consistent with its second quarter 2026 outlook across all three measures. The Company continues to focus on prudent management of liquidity, strengthening of credit performance, and alignment of its capital structure. Management remains confident in goeasy's ability to return to its long track record of strong credit performance and returns that will reinforce confidence among shareholders and other stakeholders.

The Company has updated its Q3 2026 outlook for gross consumer loans receivable and total yield on consumer loans for the full year 2026. This update assumes the continued implementation of the Company's 6-point plan and reflects the Company's expectations for the balance of the year. Refer to "Q3 2026 Outlook and Full Year 2026 Commentary" in the Company's June 30, 2026 MD&A for more detail and to the assumptions and risks set out below under "Forward Looking Statements".

	Q3 2026 Outlook	Full Year 2026 Commentary
Gross consumer loans receivable at period end	$4.8 to $5.0 billion	Expected to be broadly in line with Q2 levels
Total yield on consumer loans (including ancillary products)^1	26.5% to 28.0%	Expected to be broadly in line with H1 results
Net charge offs as a percentage of average gross consumer loans receivable^1	14.5% to 16.0%	Expected to be in the mid-teens for full year 2026; improvement expected to continue as the year progresses

Chief Risk Officer Transition

The Company also announced today that Jason Appel will be leaving his role as Chief Risk Officer to pursue an external opportunity and will remain with goeasy through the end of August, to support an orderly transition. "I would like to thank Jason for his leadership and many contributions to goeasy over the past 13 years and wish him every success in the future," said Patrick Ens, Chief Executive Officer. "Jason has played an important role in helping build and strengthen our Risk and Analytics capabilities and support goeasy's growth and evolution."

The Company has identified a successor and expects to announce the appointment before Jason Appel concludes his tenure with goeasy.

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.

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. 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, and for the quarter ended June 30, 2026 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 Q3 2026 outlook and full year 2026 commentary presented above under the heading "Updated 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.

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

INTERIM CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
(Unaudited)
(Expressed in thousands of Canadian dollars)
			As At	As At
			June 30,	December 31,
			2026	2025
ASSETS
Cash			312,100	152,661
Accounts receivable			37,544	42,361
Prepaid expenses			9,601	9,159
Income taxes recoverable			139,504	90,559
Consumer loans receivable, net			4,647,742	5,155,360
Investments			23,117	29,103
Lease assets, net			30,523	36,656
Derivative financial assets			52,429	11,146
Deferred income tax assets			28,269	22,250
Property and equipment, net			26,201	30,788
Right-of-use assets, net			52,431	52,510
Intangible assets, net			102,371	104,142
Goodwill			21,310	21,310
TOTAL ASSETS			5,483,142	5,758,005
LIABILITIES AND SHAREHOLDERS' EQUITY
Liabilities
Revolving credit facility			(3,031)	175,052
Accounts payable and other liabilities			126,121	107,842
Dividends payable			-	23,398
Unearned revenue			30,317	31,219
Accrued interest payable			68,811	68,533
Deferred income tax liabilities			3,887	5,367
Lease liabilities			58,972	59,451
Secured borrowings			54,608	88,783
Revolving securitization warehouse facilities			610,907	611,015
Derivative financial liabilities			9,683	46,107
Notes payable			3,726,742	3,690,818
TOTAL LIABILITIES			4,687,017	4,907,585
Shareholders' equity
Share capital			431,206	430,325
Contributed surplus			27,708	26,782
Accumulated other comprehensive loss			(32,346)	(13,367)
Retained earnings			369,557	406,680
TOTAL SHAREHOLDERS' EQUITY			796,125	850,420
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY			5,483,142	5,758,005

INTERIM CONDENSED CONSOLIDATED STATEMENTS OF INCOME (LOSS)
(Unaudited)
(Expressed in thousands of Canadian dollars, except earnings (loss) per share)
	Three Months Ended		Six Months Ended
	June 30,	June 30,	June 30,	June 30,
	2026	2025	2026	2025
		Restated		Restated
REVENUE
Interest income	305,493	328,523	623,403	637,414
Lease revenue	19,198	21,822	39,243	44,064
Commissions earned	61,391	73,621	131,454	141,808
Charges and fees	3,954	7,383	8,793	12,986
	390,036	431,349	802,893	836,272
OPERATING EXPENSES
BAD DEBTS	179,658	142,742	446,858	287,764
OTHER OPERATING EXPENSES
Salaries and benefits	49,646	52,112	102,310	101,575
Share-based compensation	3,075	5,706	2,013	10,147
Technology costs	10,970	12,583	22,340	24,803
Underwriting and collections	7,592	8,671	16,977	15,833
Occupancy	5,424	5,330	11,138	11,002
Advertising and promotion	2,096	8,338	5,359	17,024
Restructuring charges	-	-	4,763	-
Other expenses	12,167	7,567	22,857	15,249
	90,970	100,307	187,757	195,633
DEPRECIATION AND AMORTIZATION
Depreciation of lease assets	6,270	6,947	12,755	13,930
Amortization of intangible assets	5,599	5,655	11,124	11,301
Depreciation of right-of-use assets	5,351	5,292	10,693	10,589
Depreciation of property and equipment	2,575	2,665	5,217	5,262
	19,795	20,559	39,789	41,082
TOTAL OPERATING EXPENSES	290,423	263,608	674,404	524,479
OPERATING INCOME	99,613	167,741	128,489	311,793
OTHER LOSS	-	-	(5,986)	-
FINANCE COSTS	(78,426)	(43,033)	(171,589)	(132,684)
INCOME BEFORE INCOME TAXES	21,187	124,708	(49,086)	179,109
INCOME TAX EXPENSE (RECOVERY)
Current	6,326	33,884	(12,582)	64,779
Deferred	(1,005)	(628)	619	(15,831)
	5,321	33,256	(11,963)	48,948
NET INCOME (LOSS)	15,866	91,452	(37,123)	130,161
BASIC EARNINGS PER SHARE	0.96	5.55	(2.26)	7.83
DILUTED EARNINGS PER SHARE	0.96	5.49	(2.26)	7.73

SUMMARY OF FINANCIAL RESULTS BY REPORTABLE SEGMENT
(Expressed in thousands of Canadian dollars, except earnings per share)
	Three Months Ended June 30, 2026
	easyfinancial	easyhome	Corporate	Total
Revenue
Interest income	291,499	13,994	-	305,493
Lease revenue	-	19,198	-	19,198
Commissions earned	57,340	4,051	-	61,391
Charges and fees	3,183	771	-	3,954
	352,022	38,014	-	390,036
Operating expenses
Bad debts	171,884	7,774	-	179,658
Other operating expenses	54,720	12,174	24,076	90,970
Depreciation and amortization	9,972	8,274	1,549	19,795
	236,576	28,222	25,625	290,423
Operating income (loss)	115,446	9,792	(25,625)	99,613
Other loss				-
Finance costs				(78,426)
Income before income taxes				21,187
Income tax expense				5,321
Net income				15,866
Diluted earnings per share				0.96
	Three Months Ended June 30, 2025
	(As restated)
	easyfinancial	easyhome	Corporate	Total
Revenue
Interest income	317,396	11,127	-	328,523
Lease revenue	-	21,822	-	21,822
Commissions earned	69,812	3,809	-	73,621
Charges and fees	6,684	699	-	7,383
	393,892	37,457	-	431,349
Operating expenses
Bad debts	137,429	5,313	-	142,742
Other operating expenses	64,178	13,253	22,876	100,307
Depreciation and amortization	9,952	8,966	1,641	20,559
	211,559	27,532	24,517	263,608
Operating income (loss)	182,333	9,925	(24,517)	167,741
Other income				-
Finance costs				(43,033)
Income before income taxes				124,708
Income tax expense				33,256
Net income				91,452
Diluted earnings per share				5.49
	Six Months Ended June 30, 2026
	easyfinancial	easyhome	Corporate	Total
Revenue
Interest income	595,081	28,322	-	623,403
Lease revenue	-	39,243	-	39,243
Commissions earned	123,346	8,108	-	131,454
Charges and fees	7,250	1,543	-	8,793
	725,677	77,216	-	802,893
Operating expenses
Bad debts	428,683	18,175	-	446,858
Other operating expenses	118,628	24,878	44,251	187,757
Depreciation and amortization	19,888	16,762	3,139	39,789
	567,199	59,815	47,390	674,404
Operating income (loss)	158,478	17,401	(47,390)	128,489
Other loss				(5,986)
Finance costs				(171,589)
Loss before income taxes				(49,086)
Income taxes (recovery)				(11,963)
Net loss				(37,123)
Diluted loss per share				(2.26)
	Six Months Ended June 30, 2025
	(As restated)
	easyfinancial	easyhome	Corporate	Total
Revenue
Interest income	615,804	21,610	-	637,414
Lease revenue	-	44,064	-	44,064
Commissions earned	134,437	7,371	-	141,808
Charges and fees	11,532	1,454	-	12,986
	761,773	74,499	-	836,272
Operating expenses
Bad debts	277,895	9,869	-	287,764
Other operating expenses	125,705	27,177	42,751	195,633
Depreciation and amortization	19,688	18,030	3,364	41,082
	423,288	55,076	46,115	524,479
Operating income (loss)	338,484	19,423	(46,115)	311,793
Other income				-
Finance costs				(132,684)
Income before income taxes				179,109
Income taxes				48,948
Net income				130,161
Diluted earnings per share				7.73

SUMMARY OF FINANCIAL RESULTS AND KEY PERFORMANCE INDICATORS

	Three Months Ended
($ in 000's except earnings per share and percentages)	June 30, 2026	June 30, 2025 (As restated)	Variance $ / bps	Variance % Change
Summary Financial Results
Revenue	390,036	431,349	(41,313)	(9.6 %)
Bad debts	179,658	142,742	36,916	25.9 %
Other operating expenses	90,970	100,307	9,337	(9.3 %)
EBITDA^1	113,138	181,354	(68,216)	(37.6 %)
EBITDA margin^1	29.0 %	42.0 %	(1,300 bps)	(31.0 %)
Depreciation and amortization	19,795	20,559	(764)	(3.7 %)
Operating income	99,613	167,741	(68,128)	(40.6 %)
Operating margin	25.5 %	38.9 %	(1,340 bps)	(34.4 %)
Finance costs	78,426	43,033	35,393	82.2 %
Effective income tax rate	25.1 %	26.7 %	(160 bps)	(5.8 %)
Net income	15,866	91,452	(75,586)	(82.7 %)
Diluted earnings per share	0.96	5.49	(4.53)	(82.5 %)
Return on receivables	1.2 %	7.3 %	(610 bps)	(83.6 %)
Return on assets	1.1 %	6.7 %	(560 bps)	(83.6 %)
Return on equity	7.9 %	31.4 %	(2,350 bps)	(74.8 %)
Return on tangible common equity^1	10.0 %	40.5 %	(3,050 bps)	(75.3 %)
Adjusted Financial Results^1
Other operating expenses	97,240	107,162	(9,922)	(9.3 %)
Efficiency ratio	25.5 %	25.6 %	(10 bps)	(0.4 %)
Operating income	102,888	171,108	(68,220)	(39.9 %)
Operating margin	26.4 %	39.7 %	(1,330 bps)	(33.5 %)
Net income	16,768	73,366	(56,598)	(77.1 %)
Diluted earnings per share	1.02	4.40	(3.38)	(76.8 %)
Return on receivables	1.3 %	5.9 %	(460 bps)	(78.0 %)
Return on assets	1.2 %	5.3 %	(410 bps)	(77.4 %)
Return on equity	8.4 %	25.2 %	(1,680 bps)	(66.7 %)
Return on tangible common equity	9.2 %	31.7 %	(2,250 bps)	(71.0 %)
Key Performance Indicators
Segment Financials
easyfinancial revenue	352,022	393,892	(41,870)	(10.6 %)
easyfinancial operating margin	32.8 %	46.3 %	(1,350 bps)	(29.2 %)
easyhome revenue	38,014	37,457	557	1.5 %
easyhome operating margin	25.8 %	26.5 %	(70 bps)	(2.6 %)
Portfolio Indicators
Gross consumer loans receivable	5,000,735	5,107,648	(106,913)	(2.1 %)
Growth in consumer loans receivable	(362,721)	312,261	(674,982)	(216.2 %)
Gross loan originations	272,060	903,718	(631,658)	(69.9 %)
Total yield on consumer loans (including ancillary products)^1	28.3 %	31.7 %	(340 bps)	(10.8 %)
Net charge offs as a percentage of average gross consumer loans receivable^1	16.7 %	8.7 %	800 bps	91.6 %
Cash provided by operations before net principal written^1	585,360	489,103	96,257	19.7 %
Potential monthly leasing revenue^1	5,511	6,478	(967)	(14.9 %)

	Six Months Ended
($ in 000's except earnings per share and percentages)	June 30, 2026	June 30, 2025 (As restated)	Variance $ / bps	Variance % Change
Summary Financial Results
Revenue	802,893	836,272	(33,379)	(4.0 %)
Bad debts	446,858	287,764	159,094	55.3 %
Other operating expenses	187,757	195,632	(7,875)	(4.0 %)
EBITDA^1	149,537	338,945	(189,408)	(55.9 %)
EBITDA margin^1	18.6 %	40.5 %	(2,190 bps)	(54.1 %)
Depreciation and amortization	39,789	41,082	(1,293)	(3.1 %)
Operating income	128,489	311,793	(183,304)	(58.8 %)
Operating margin	16.0 %	37.3 %	(2,130 bps)	(57.1 %)
Other income (loss)	(5,986)	-	(5,986)	(100.0 %)
Finance costs	171,589	132,684	38,905	29.3 %
Effective income tax rate	24.4 %	27.3 %	(290 bps)	(10.8 %)
Net income (loss)	(37,123)	130,161	(167,284)	(128.5 %)
Diluted earnings (loss) per share	(2.26)	7.73	(9.99)	(129.2 %)
Return on receivables	(1.4 %)	5.4 %	(680 bps)	(125.9 %)
Return on assets	(1.3 %)	4.8 %	(610 bps)	(127.1 %)
Return on equity	(9.1 %)	22.2 %	(3,130 bps)	(141.0 %)
Return on tangible common equity^1	(8.7 %)	29.0 %	(3,770 bps)	(130.0 %)
Adjusted Financial Results^1
Other operating expenses	195,749	209,377	(13,628)	(6.5 %)
Efficiency ratio	25.0 %	25.9 %	(90 bps)	(3.5 %)
Operating income	139,802	318,527	(178,725)	(56.1 %)
Operating margin	17.4 %	38.1 %	(2,070 bps)	(54.3 %)
Net income (loss)	(14,546)	132,715	(147,261)	(111.0 %)
Diluted earnings (loss) per share	(0.88)	7.88	(8.76)	(111.2 %)
Return on receivables	(0.6 %)	5.5 %	(610 bps)	(110.9 %)
Return on assets	(0.5 %)	4.9 %	(540 bps)	(110.2 %)
Return on equity	(3.6 %)	22.7 %	(2,630 bps)	(115.9 %)
Return on tangible common equity	(3.9 %)	28.5 %	(3,240 bps)	(113.7 %)
Key Performance Indicators
Segment Financials
easyfinancial revenue	725,677	761,773	(36,095)	(4.7 %)
easyfinancial operating margin	21.8 %	44.4 %	(2,260 bps)	(50.9 %)
easyhome revenue	77,216	74,499	(2,717)	3.6 %
easyhome operating margin	22.5 %	26.1 %	(360 bps)	(13.8 %)
Portfolio Indicators
Gross consumer loans receivable	5,000,735	5,107,648	(106,913)	(2.1 %)
Growth in consumer loans receivable	(512,732)	505,211	(1,017,943)	(201.5 %)
Gross loan originations	823,374	1,580,488	(757,114)	(47.9 %)
Total yield on consumer loans (including ancillary products)^1	28.1 %	31.5 %	(340 bps)	(10.7 %)
Net charge offs as a percentage of average gross consumer loans receivable^1	17.3 %	8.8 %	850 bps	96.0 %
Cash provided by operations before net principal written^1	1,145,468	899,850	245,618	27.3 %
Potential monthly leasing revenue^1	5,511	6,478	(967)	(14.9 %)

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 (loss) is a non-IFRS measure and adjusted diluted earnings (loss) per share is a non-IFRS ratio. Refer to "Key Performance Indicators and Non-IFRS Measures" section on page 44 of the Company's MD&A for the three and six-month periods ended June 30, 2026. Items used to calculate adjusted net income (loss) and adjusted diluted earnings (loss) per share for the three and six-month periods ended June 30, 2026 and 2025 include those indicated in the chart below:

	Three Months Ended		Six Months Ended
($ in 000's except earnings per share)	June 30, 2026	June 30,     2025 (As restated)	June 30, 2026	June 30,     2025 (As restated)
Net income (loss)	15,866	91,452	(37,123)	130,161
Impact of adjusting items
Other operating expenses
Restructuring charges^1	-	-	4,763	-
Integration costs^2	-	92	-	184
Depreciation and amortization
Amortization of acquired intangible assets^3	3,275	3,275	6,550	6,550
Other loss (income)^4	-	-	5,986	-
Finance costs
Fair value change on prepayment options related to Notes Payable^5	(2,048)	(27,974)	11,260	(3,260)
Total pre-tax impact of adjusting items	1,227	(24,607)	28,559	3,474
Income tax impact of above     adjusting items	(325)	6,521	(5,982)	(920)
After-tax impact of adjusting items	902	(18,086)	22,577	2,554
Adjusted net income (loss)	16,768	73,366	(14,546)	132,715
Weighted average number of diluted shares outstanding	16,504	16,673	16,462	16,840
Diluted earnings (loss) per share	0.96	5.49	(2.26)	7.73
Per share impact of adjusting items	0.06	(1.09)	1.38	0.15
Adjusted diluted earnings (loss) per share	1.02	4.40	(0.88)	7.88

Adjusting item related to restructuring charges

¹ The Company completed a restructuring exercise in March 2026 and incurred a total of $4.8 million related to severance costs, settlement claims and consulting fees.

Adjusting items related to the LendCare acquisition

² Integration costs related to representation and warranty insurance costs, and other integration costs related to the acquisition of LendCare.

³ Amortization of the $131 million intangible asset related to the acquisition of LendCare, with an estimated useful life of ten years.

Adjusting item related to other loss

⁴ For the six-month period ended June 30, 2026, 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 2026, 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 44 of the Company's MD&A for the three and six-month periods ended June 30, 2026. Items used to calculate adjusted other operating expenses and efficiency ratio for the three and six-month periods ended June 30, 2026 and 2025 include those indicated in the chart below:

	Three Months Ended		Six Months Ended
($ in 000's except percentages)	June 30, 2026	June 30, 2025 (As restated)	June 30, 2026	June 30, 2025 (As restated)
Other operating expenses as stated	90,970	100,307	187,757	195,632
Impact of adjusting items^1
Other operating expenses
Restructuring charges	-	-	(4,763)	-
Integration costs	-	(92)	-	(184)
Depreciation and amortization
Depreciation of lease assets	6,270	6,947	12,755	13,930
Total impact of adjusting items	6,270	6,855	7,992	13,746
Adjusted other operating expenses	97,240	107,162	195,749	209,378
Total revenue	390,036	431,349	802,893	836,272
Less: Bad debts on interest receivable	(8,540)	(13,227)	(19,419)	(26,966)
	381,496	418,122	783,474	809,307
Efficiency ratio	25.5 %	25.6 %	25.0 %	25.9 %

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 44 of the Company's MD&A for the three and six-month periods ended June 30, 2026. Items used to calculate adjusted operating income (loss) and adjusted operating margins for the three and six-month periods ended June 30, 2026 and 2025 include those indicated in the chart below:

	Three Months Ended
($ in 000's except percentages)	June 30, 2026	June 30, 2026 (adjusted)	June 30, 2025 (As restated)	June 30, 2025 (adjusted) (As restated)
easyfinancial
Operating income (loss)	115,446	115,446	182,332	182,332
Divided by revenue	352,022	352,022	393,892	393,892
easyfinancial operating margin	32.8 %	32.8 %	46.3 %	46.3 %
easyhome
Operating income	9,792	9,792	9,925	9,925
Divided by revenue	38,014	38,014	37,457	37,457
easyhome operating margin	25.8 %	25.8 %	26.5 %	26.5 %
Total
Operating income (loss)	99,613	99,613	167,741	167,741
Other operating expenses^1
Restructuring charges	-	-	-	-
Integration costs	-	-	-	92
Depreciation and amortization^1
Amortization of acquired intangible assets	-	3,275	-	3,275
Adjusted operating income (loss)	99,613	102,888	167,741	171,108
Divided by revenue	390,036	390,036	431,349	431,349
Total operating margin	25.5 %	25.5 %	38.9 %	39.7 %

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, 2026	June 30, 2026 (adjusted)	June 30, 2025 (As restated)	June 30, 2025 (adjusted) (As restated)
easyfinancial
Operating income (loss)	158,481	158,481	338,484	338,484
Divided by revenue	725,677	725,677	761,773	761,773
easyfinancial operating margin	21.8 %	21.8 %	44.4 %	44.4 %
easyhome
Operating income	17,401	17,401	19,423	19,423
Divided by revenue	77,216	77,216	74,499	74,499
easyhome operating margin	22.5 %	22.5 %	26.1 %	26.1 %
Total
Operating income (loss)	128,489	128,489	311,793	311,793
Other operating expenses^1
Restructuring charges	-	4,763	-	-
Integration costs	-	-	-	184
Depreciation and amortization^1
Amortization of acquired intangible assets	-	6,550	-	6,550
Adjusted operating income (loss)	128,489	139,802	311,793	318,527
Divided by revenue	802,893	802,893	836,272	836,272
Total operating margin	16.0 %	17.4 %	37.3 %	38.1 %

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 44 of the Company's MD&A for the three and six-month periods ended June 30, 2026. Items used to calculate EBITDA and EBITDA margin for the three and six-month periods ended June 30, 2026 and 2025 include those indicated in the chart below:

	Three Months Ended		Six Months Ended
($ in 000's except percentages)	June 30, 2026	June 30, 2025 (As restated)	June 30, 2026	June 30, 2025 (As restated)
Net income (loss)	15,866	91,452	(37,123)	130,161
Finance cost	78,426	43,033	171,589	132,684
Income tax expense	5,321	33,257	(11,963)	48,948
Depreciation and amortization	19,795	20,559	39,789	41,082
Depreciation of lease assets	(6,270)	(6,947)	(12,755)	(13,930)
EBITDA	113,138	181,354	149,537	338,945
Divided by revenue	390,036	431,349	802,893	836,272
EBITDA margin	29.0 %	42.0 %	18.6 %	40.5 %

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 44 of the Company's MD&A for the three and six-month periods ended June 30, 2026. Items used to calculate cash provided by operating activities before net principal written for the three and six-month periods ended June 30, 2026 and 2025 include those indicated in the chart below:

	Three Months Ended		Six Months Ended
($ in 000's)	June 30, 2026	June 30, 2025 (As restated)	June 30, 2026	June 30, 2025 (As restated)
Cash provided by (used in) operating activities	377,905	(274,170)	500,201	(454,482)
Net principal written	207,455	763,273	645,267	1,354,332
Cash provided by operating activities before net principal written	585,360	489,103	1,145,468	899,850

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 44 of the Company's MD&A for the three and six-month periods ended June 30, 2026. Items used to calculate adjusted return on receivables for the three and six-month periods ended June 30, 2026 and 2025 include those indicated in the chart below:

	Three Months Ended
($ in 000's except percentages)	June 30, 2026	June 30, 2026  (adjusted)	June 30, 2025 (As restated)	June 30, 2025  (adjusted) (As restated)
Net income (loss)	15,866	15,866	91,452	91,452
After-tax impact of adjusting items^1	-	902	-	(18,086)
Adjusted net income (loss)	15,866	16,768	91,452	73,366
Multiplied by number of periods in a year	X 4	X 4	X 4	X 4
Divided by average gross consumer loans receivable	5,101,112	5,101,112	4,980,397	4,980,397
Return on receivables	1.2 %	1.3 %	7.3 %	5.9 %

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, 2026	June 30, 2026  (adjusted)	June 30, 2025 (As restated)	June 30, 2025  (adjusted) (As restated)
Net income (loss)	(37,123)	(37,123)	130,161	130,161
After-tax impact of adjusting items^1	-	22,577	-	2,554
Adjusted net income (loss)	(37,123)	(14,546)	130,161	132,715
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	5,277,695	5,277,695	4,846,548	4,846,548
Return on receivables	(1.4 %)	(0.6 %)	5.4 %	5.5 %

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 44 of the Company's MD&A for the three and six-month periods ended June 30, 2026. Items used to calculate adjusted return on assets for the three and six-month periods ended June 30, 2026 and 2025 include those indicated in the chart below:

	Three Months Ended
($ in 000's except percentages)	June 30, 2026	June 30, 2026  (adjusted)	June 30, 2025 (As restated)	June 30, 2025  (adjusted) (As restated)
Net income (loss)	15,866	15,866	91,452	91,452
After-tax impact of adjusting items^1	-	902	-	(18,086)
Adjusted net income (loss)	15,866	16,768	91,452	73,366
Multiplied by number of periods in a year	X 4	X 4	X 4	X 4
Divided by average total assets for the period	5,652,415	5,652,415	5,487,102	5,487,102
Return on assets	1.1 %	1.2 %	6.7 %	5.3 %

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, 2026	June 30, 2026  (adjusted)	June 30, 2025 (As restated)	June 30, 2025  (adjusted) (As restated)
Net income (loss)	(37,123)	(37,123)	130,161	130,161
After-tax impact of adjusting items^1	-	22,577	-	2,554
Adjusted net income (loss)	(37,123)	(14,546)	130,161	132,715
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	5,687,611	5,687,611	5,395,080	5,395,080
Return on assets	(1.3 %)	(0.5 %)	4.8 %	4.9 %

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 44 of the Company's MD&A for the three and six-month periods ended June 30, 2026. Items used to calculate adjusted return on equity for the three and six-month periods ended June 30, 2026 and 2025 include those indicated in the chart below:

	Three Months Ended
($ in 000's except percentages)	June 30, 2026	June 30, 2026  (adjusted)	June 30, 2025 (As restated)	June 30, 2025  (adjusted) (As restated)
Net income (loss)	15,866	15,866	91,452	91,452
After-tax impact of adjusting items^1	-	902	-	(18,086)
Adjusted net income (loss)	15,866	16,768	91,452	73,366
Multiplied by number of periods in a year	X 4	X 4	X 4	X 4
Divided by average shareholders' equity for the period	798,682	798,682	1,165,244	1,165,244
Return on equity	7.9 %	8.4 %	31.4 %	25.2 %

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, 2026	June 30, 2026  (adjusted)	June 30, 2025 (As restated)	June 30, 2025  (adjusted) (As restated)
Net income (loss)	(37,123)	(37,123)	130,161	130,161
After-tax impact of adjusting items^1	-	22,577	-	2,554
Adjusted net income (loss)	(37,123)	(14,546)	130,161	132,715
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	815,928	815,928	1,170,889	1,170,889
Return on equity	(9.1 %)	(3.6 %)	22.2 %	22.7 %

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 44 of the Company's MD&A for the three and six-month periods ended June 30, 2026. Items used to calculate reported and adjusted return on tangible common equity for the three and six-month periods ended June 30, 2026 and 2025 include those indicated in the chart below:

	Three Months Ended
($ in 000's except percentages)	June 30, 2026	June 30, 2026 (adjusted)	June 30, 2025 (As restated)	June 30, 2025 (adjusted) (As restated)
Net income	15,866	15,866	91,452	91,452
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	18,273	18,273	93,859	93,859
Impact of adjusting items^1
Other operating expenses
Restructuring charges	-	-	-	-
Integration costs	-	-	-	92
Other loss	-	-	-	-
Finance costs
Fair value change on prepayment options related to Notes Payable	-	(2,048)	-	(27,974)
Total pre-tax impact of adjusting items	-	(2,048)	-	(27,882)
Income tax impact of above adjusting items	-	543	-	7,389
After-tax impact of adjusting items	-	(1,505)	-	(20,493)
Adjusted net income (loss)	18,273	16,768	93,859	73,366
Multiplied by number of periods in a year	X 4	X 4	X 4	X 4
Average shareholders' equity	798,682	798,682	1,165,244	1,165,244
Average goodwill	(21,310)	(21,310)	(180,923)	(180,923)
Average acquired intangible assets^2	(64,954)	(64,954)	(78,054)	(78,054)
Average related deferred tax liabilities	17,213	17,213	20,684	20,684
Divided by average tangible common equity	729,631	729,631	926,951	926,951
Return on tangible common equity	10.0 %	9.2 %	40.5 %	31.7 %

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, 2026	June 30, 2026 (adjusted)	June 30, 2025 (As restated)	June 30, 2025 (adjusted) (As restated)
Net income (loss)	(37,123)	(37,123)	130,161	130,161
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	(32,309)	(32,309)	134,975	134,975
Impact of adjusting items^1
Other operating expenses
Restructuring charges	-	4,763	-	-
Integration costs	-	-	-	184
Other loss	-	5,986	-	-
Finance costs
Fair value change on prepayment options related to Notes Payable	-	11,260	-	(3,260)
Total pre-tax impact of adjusting items	-	22,009	-	(3,076)
Income tax impact of above adjusting items	-	(4,246)	-	816
After-tax impact of adjusting items	-	17,763	-	(2,260)
Adjusted net income (loss)	(32,309)	(14,546)	134,975	132,715
Multiplied by number of periods in a year	X 4/2	X 4/2	X 4/2	X 4/2
Average shareholders' equity	815,928	815,928	1,170,889	1,170,889
Average goodwill	(21,310)	(21,310)	(180,923)	(180,923)
Average acquired intangible assets^2	(66,592)	(66,592)	(79,692)	(79,692)
Average related deferred tax liabilities	17,647	17,647	21,118	21,118
Divided by average tangible common equity	745,673	745,673	931,392	931,392
Return on tangible common equity	(8.7 %)	(3.9 %)	29.0 %	28.5 %

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.

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 30 of the Company's MD&A for the three and six-month periods ended June 30, 2026. Items used to calculate total yield on consumer loans as a percentage of average gross consumer loans receivable for three and six-month periods ended June 30, 2026 and 2025 include those indicated in the chart below:

	Three Months Ended		Six Months Ended
($ in 000's except percentages)	June 30, 2026	June 30, 2025 (As restated)	June 30, 2026	June 30, 2025 (As restated)
Total Company revenue	390,036	431,349	802,893	836,272
Less: Leasing revenue	(20,386)	(23,059)	(41,659)	(46,574)
Less: Bad debts on interest income	(8,540)	(13,227)	(19,419)	(26,965)
Adjusted financial revenue	361,110	395,063	741,815	762,733
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	5,101,112	4,980,397	5,277,695	4,846,548
Total yield on consumer loans as a percentage of average gross consumer loans receivable (annualized)	28.3 %	31.7 %	28.1 %	31.5 %

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 30 of the Company's MD&A for the three and six-month periods ended June 30, 2026. Items used to calculate net charge Offs as a percentage of average gross consumer loans receivable for the three and six-month periods ended June 30, 2026. and 2025 include those indicated in the chart below:

	Three Months Ended
($in 000's except percentages)	June 30, 2026	June 30, 2025 (As restated)
Net charge offs on gross consumer loans receivable	212,741	108,545
Multiplied by number of periods in a year	X 4	X 4
Divided by average gross consumer loans receivable	5,101,112	4,980,397
Net charge offs as a percentage of average gross consumer loans receivable (annualized)	16.7 %	8.7 %

	Six Months Ended
($in 000's except percentages)	June 30, 2026	June 30, 2025 (As restated)
Net charge offs on gross consumer loans receivable	455,322	213,304
Multiplied by number of periods in a year	X4/2	X4/2
Divided by average gross consumer loans receivable	5,277,695	4,846,548
Net charge offs as a percentage of average gross consumer loans receivable (annualized)	17.3 %	8.8 %

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 30 of the Company's MD&A for the three and six-month periods ended June 30, 2026. 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 for the three and six-month periods ended June 30, 2026 include those indicated in the chart below:

	Three Months Ended		Six Months Ended
($ in 000's)	June 30, 2026	June 30, 2025	June 30, 2026	June 30, 2025
Gross loan originations	272,060	903,718	823,374	1,580,487
Loan originations to new customers	128,567	557,894	441,261	989,843
Loan originations to existing customers	143,493	345,824	382,113	590,644
Less: Proceeds applied to repay existing loans	(64,605)	(140,445)	(178,107)	(226,155)
Net advance to existing customers	78,888	205,379	204,006	364,489
Net principal written	207,455	763,273	645,267	1,354,332
Percentage net advances to new customers	62.0 %	73.1 %	68.4 %	73.1 %

Debt to Adjusted Tangible Equity

Debt to adjusted tangible equity is a capital management measure. Refer to "Financial Condition" section on page 55 of the Company's MD&A for the three and six-month periods ended June 30, 2026.

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.