EQB releases Q1 results with milestone adjusted EPS and total AUM and AUA reaching $132 billion, increases dividend 21% y/y

EQB Inc. (TSX: EQB) today reported strong financial results for the three months ended January 31, 2025, supported by accelerated year-over-year growth in loans under management and net interest income, as well as increasing non-interest revenue from higher multi-unit residential securitization and contributions from its alternative asset manager, ACM Advisors.

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Highlights from Q1 2025 compared to the previous quarter and year include:

— Adjusted ROE1 15.2% (reported 14.1%)

— Adjusted diluted EPS1 $2.98, +8% y/y, +19% q/q (reported $2.77, +4% y/y, +42% q/q)

— Book value per share $79.71, +12% y/y, +3% q/q

— Adjusted revenue $323 million, +8% y/y, +0.3% q/q (reported +8% y/y, +3% q/q)

— Net interest margin2 2.07%, +6bps y/y, 0 bps q/q (reported +7bps q/q)

— Adjusted PPPT3 $170 million, +3% y/y, -2% q/q (reported $163 million, +3% y/y, +3% q/q)

— Adjusted net income1 $116 million, +7% y/y, +11% q/q (reported $108 million, +3% y/y, +36% q/q)

— Total AUM + AUA2 $132 billion, +11% y/y, +4% q/q

— EQ Bank customer growth +26% y/y, +4% q/q to over 536,000

— Common share dividends $0.51 per share, +21% y/y, +4% q/q

— Total capital ratio 15.5% with CET1 of 14.1% and liquidity coverage ratio well in excess of 100%

“We enter fiscal 2025 confident in EQB's growth opportunities and ready to build on our exceptional performance this quarter,”said Andrew Moor, president and CEO, EQB. “Our confidence is well-founded. Canadians – in growing numbers – are responding to our innovative EQ Bank digital offerings and choosing us as their primary bank. We enjoy leadership positions in insured multi-unit residential, single-family residential and decumulation markets where needs for capital are substantial. The tailwind of recent interest rate cuts provides a constructive backdrop for enhanced loan growth and improving credit metrics. While we will need to manage second-order effects of cross-border tariff threats carefully, our purely domestic market presence, focus on lending in large Canadian urban centres with diversified economies and the highly competitive nature of our Challenger Bank services support a positive outlook.”

EQ Bank experiences double-digit customer growth +26% y/y, +4% q/q to 536,000

— Steady increase in payroll customers, now representing an accelerating ratio of total demand balances, confirm EQ Bank's growing reputation as a primary bank of choice and go-to source for innovative savings and spending options with long-term relationship intent

— Strong US Dollar Account deposit growth as customers embrace refreshed CAD/USD foreign exchange rates and no fee, high interest offering, further elevating full suite of international banking features – including cost-effective global transfers with Wise and seamless spending with theEQ Bank Card – in line with commitment to redefining value and convenience

— The Notice Savings Account, an innovative and powerful alternative toGICs and traditional savings vehicles, continued to drive customer growth and launched in Québec subsequent to quarter end, uniquely positioning Banque EQ to meet surging demand for challenger bank offerings in the province

Personal Banking LUM steady on strong customer retention and promising origination levels, bolstered by significant decumulation growth +47% y/y

— Single-family uninsured originations grew +23% in Q1 reflecting stronger activity in the housing market and Equitable Bank's leadership position based on customer service excellence and well-regarded advocacy of the broker channel; loan growth expected to accelerate with the spring housing market as borrowers respond to a more favourable interest rate environment

— Decumulation lending (including reverse mortgages and insurance lending) grew +47% y/y, +9% q/q as successful advertising, exceptional broker service and value to borrowers worked to broaden category awareness among growing number of Canadians choosing to enjoy the benefits of a reverse mortgage

— Loans undermanagement (LUM) grew +2% y/y, +1% q/q to $20.2 billion with sequential growth fueled by strong originations and renewals, despite reduction in single-family insured lending (-15% y/y, -4% q/q to $8.8 billion) reflecting EQB's earlier decision to exit this part of the market

Commercial Banking LUM +18% y/y to $37.0 billion, supported by +30% y/y expansion in multi-unit residential loans LUM

— EQB continues to prioritize insured lending for multi-unit residential properties (primarily rental apartments) in major cities across the country with 82% of its total commercial LUM insured through various CMHC programs

— CMHC-insured multi-unit residential LUM grew +30% y/y, +5% q/q to $27.5 billion and insured commercial construction lending grew +48% y/y, +13% q/q to $3.0 billion, driven by both new originations and construction draws on existing commitments

Provisions in-line with EQB's expectations and reflect anticipated moderation in equipment finance

— Adjusted provision for credit losses (PCL)2 of $13.7 million (reported $18.7 million in Q1) reflects the impacts of evolving macroeconomic forecasts, expected credit loss modelling and improved Stage 3 provisions of $10.1 million (reported $13.8 million), down -12% y/y, -62% q/q

— Net impaired loans increased by $59.3 million in Q1 to $683.0 million, corresponding to 147bps of total loan assets compared to 132 bps at Q4 2024 and 94 bps at Q1 2024; nearly one-third of new impaired loans are attributable to a single multi-unit residential loan insured by CMHC

— The Bank is appropriately reserved for credit losses with net allowances as a percentage of total loan assets of 28 bps, compared to 32 bps at Q4 2024 and 22 bps at Q1 2024; decline in Q1 net allowance rate driven by writing down loans to expected recoverable amount

— Following decisive action in previous quarters related to equipment finance, long-haul transportation portfolio fundamentals continued to progress as expected with an improvement in delinquency rates; exposure to this market continues to tighten in favour of higher-quality, prime leases

EQB increases common share dividend and shares capital management guidance

— EQB's Board of Directors declared a dividend of $0.51 per common share payable on March 31, 2025, to shareholders of record as of March 14, 2025, representing a 4% increase from the dividend paid in December 2024 and 21% above the payment made in March 2024

— For the purposes of the Income Tax Act (Canada) and any similar provincial legislation, dividends declared are eligible dividends, unless otherwise indicated

— Equitable Bank continually optimizes its capital structure to support strategic objectives and maintain strong overall capital levels; following its recent Internal Capital Adequacy Assessment Process (ICAAP) for 2025, the Bank established that it will operate above 15% Total Capital and expects that up to 300 bps of Total Capital could be contributed by Alternative Tier 1 and Tier 2 capital in 2027 and beyond, while maintaining consistent CET1 guidance at 13%+ for the balance of fiscal 2025

“We are pleased with EQB's strong start to 2025 and are invigorated by external recognition of our growth potential, reinforcing the calibre of our challenger business model and ability to consistently generate 15%+ ROE,” said Chadwick Westlake, CFO, EQB. “EQB has excellent momentum from purposeful asset class expansion with strategic funding diversification progress importantly in EQ Bank. We continue to cement our position as a leading player in multi-unit residential lending and, paired with growing real estate market activity, these positive dynamics validate our outlook for the year as we remain well-positioned to deliver long-term shareholder value.”

Analyst conference call and webcast: 8:00 a.m. ET February 26, 2025

Andrew Moor, president and CEO, Chadwick Westlake, CFO, and Marlene Lenarduzzi, CRO, will host EQB's first quarter conference call and webcast. The listen-only webcast with accompanying slides will be available at: eqb.investorroom.com. To access the conference call with operator assistance, dial 416-945-7677 five minutes prior to the start time.

1 Adjusted measures and ratios are Non-Generally Accepted Accounting Principles (GAAP) measures and ratios. Adjusted measures and ratios are calculated in the same manner as reported measures and ratios, except that financial information included in the calculation of adjusted measures and ratios is adjusted to exclude the impact of the Concentra Bank and ACM acquisition and integration related costs, and certain items which management determines would have a significant impact on a reader's assessment of business performance. For additional information and a reconciliation of reported results to adjusted results, see the “Non-GAAP financial measures and ratios” section.2 These are non-GAAP measures, see the “Non-GAAP financial measures and ratios” section.3 PPPT represents pre-provision-pre-tax income, a non-GAAP measure of financial performance.

INTERIM CONSOLIDATED FINANCIAL STATEMENTS

Consolidated balancesheet (unaudited)

($000s) As at January 31, 2025 October 31, 2024 January 31, 2024Assets:Cash and cash equivalents 810,017 591,641 543,759Restricted cash 817,025 971,987 662,759Securities purchased under reverse repurchase agreements 1,800,014 1,260,118 805,612Investments 1,571,754 1,627,314 2,025,978Loans – Personal 32,303,971 32,273,551 32,680,816Loans – Commercial 14,036,424 14,760,367 15,111,488Securitization retained interests 892,258 813,719 607,822Deferred tax assets 28,841 36,104 14,871Other assets 971,520 899,120 645,770Total assets 53,231,824 53,233,921 53,098,875Liabilities and Shareholders' EquityLiabilities:Deposits 34,616,801 33,739,612 32,245,509Securitization liabilities 13,711,167 14,594,304 15,389,417Obligations under repurchase agreements – – 482,574Deferred tax liabilities 190,419 177,933 141,543Funding facilities 768,813 946,956 1,332,903Other liabilities 723,188 636,931 589,879Total liabilities 50,010,388 50,095,736 50,181,825Shareholders' Equity:Preferred shares – – 181,411Common shares 506,160 505,876 489,944Other equity instruments 147,360 147,440 -Contributed deficit (17,437) (17,374) (23,055)Retained earnings 2,564,315 2,483,309 2,272,116Accumulated other comprehensive income (loss) 11,200 8,555 (15,826)Total equity attributable to equity holders of EQB 3,211,598 3,127,806 2,904,590Non-controlling interests 9,838 10,379 12,460Total equity 3,221,436 3,138,185 2,917,050Total liabilities and shareholders' equity 53,231,824 53,233,921 53,098,875

Consolidated statement of income (unaudited)

($000s, except per share amounts) Three-month period ended January 31, 2025 January 31, 2024Interest income:Loans – Personal 481,370 468,954Loans – Commercial 222,117 262,881Investments 13,400 17,876Other 25,370 22,099 742,257 771,810Interest expense:Deposits 347,809 358,562Securitization liabilities 125,432 127,253Funding facilities 5,547 15,283Other 83 14,702 478,871 515,800Net interest income 263,386 256,010Non-interest revenue:Fees and other income 22,920 16,615Net gains on loans and investments 2,304 4,993Gain on sale and income from retained interests 24,872 19,409Net gains on securitization activities and derivatives 9,153 1,745 59,249 42,762Revenue 322,635 298,772Provision for credit losses 18,678 15,535Revenue after provision for credit losses 303,957 283,237Non-interest expenses:Compensation and benefits 75,934 65,369Other 83,321 74,116 159,255 139,485Income before income taxes 144,702 143,752Income taxes:Current 16,739 38,534Deferred 20,253 836 36,992 39,370Net income 107,710 104,382Dividends on preferred shares – 2,357Distribution to LRCN holders – -Net income available to common shareholders and non-controlling interests 107,710 102,025Net income attributable to:Common shareholders 107,402 101,875Non-controlling interests 308 150 107,710 102,025Earnings per share:Basic 2.79 2.68Diluted 2.77 2.66

Consolidated statement of comprehensive income (unaudited)

($000s) Three-month period ended January 31, 2025 January 31, 2024Netincome 107,710 104,382Other comprehensive income – items that will be reclassified subsequently to income:Debt instruments at Fair Value through Other Comprehensive Income:Net change in gains on fair value 12,440 41,561Reclassification of net gains to income (10,066) (35,827)Other comprehensive income – items that will not be reclassified subsequently to income:Equity instruments designated at Fair Value through Other Comprehensive Income:Net change in gains (losses) on fair value 1,071 (1,580)Reclassification of net gains to retained earnings (378) – 3,067 4,154Income tax expense (917) (1,143) 2,150 3,011Cash flow hedges:Net change in unrealized losses on fair value (4,210) (12,230)Reclassification of net gains to income (3,424) (6,694) (7,634) (18,924)Income tax recovery 2,031 5,161 (5,603) (13,763)Total other comprehensive loss (3,453) (10,752)Total comprehensive income 104,257 93,630Total comprehensive income attributable to:Common shareholders 103,949 93,480Non-controlling interests 308 150 104,257 93,630

Consolidated statementofchangesinshareholders'equity (unaudited)

($000s) Three-month period ended January 31, 2025 Common Contributed Retained Accumulated other comprehensive Shares Surplus/ Earnings income (loss) (deficit) Other Cash Financial Total Attributable Non- Total equity Flow Instruments to equity controlling instruments Hedges at FVOCI holders interestsBalance, beginning of period 505,876 147,440 (17,374) 2,483,309 21,617 (13,062) 8,555 3,127,806 10,379 3,138,185Net Income – – – 107,402 – – – 107,402 308 107,710Realized losses on sale of shares, net of tax – – – (5,718) – – – (5,718) – (5,718)Transfer of AOCI losses to retained earnings, net of tax – – – – – 6,004 6,004 6,004 – 6,004Transfer of AOCI losses to income, net of tax – – – – – 94 94 94 – 94Other comprehensive loss (gain), net of tax – – – – (5,603) 2,150 (3,453) (3,453) – (3,453)Exercise of stock options 460 – – – – – – 460 – 460Common shares repurchased and cancelled (275) – – (1,832) – – – (2,107) – (2,107)Issuance cost, net of tax – (80) – – – – – (80) – (80)Dividends:Common shares – – – (18,846) – – – (18,846) (849) (19,695)Put option – non-controlling interest – – (1,131) – – – – (1,131) – (1,131)Stock-based compensation – – 1,167 – – – – 1,167 – 1,167Transfer relating to the exercise of stock options 99 – (99) – – – – – – -Balance, end of period 506,160 147,360 (17,437) 2,564,315 16,014 (4,814) 11,200 3,211,598 9,838 3,221,436($000s) Three-month period ended January 31, 2024 Preferred Common Contributed Retained Accumulated other comprehensive Shares Shares Surplus/ Earnings income (loss) (deficit) Cash Financial Total Attributable Non- Total Flow Instruments to equity controlling Hedges at FVOCI holders interestsBalance, beginning of period 181,411 471,014 12,795 2,185,480 43,618 (48,775) (5,157) 2,845,543 – 2,845,543Non-controlling interests on acquisition – – – – – – – – 12,310 12,310Net Income – – – 104,232 – – – 104,232 150 104,382Transfer of AOCI losses to income, net of tax – – – – – 83 83 83 – 83Other comprehensive loss, net of tax – – – – (13,763) 3,011 (10,752) (10,752) – (10,752)Common share issued – 11,000 – – – – – 11,000 – 11,000Exercise of stock options – 6,958 – – – – – 6,958 – 6,958Dividends:Preferred shares – – – (2,357) – – – (2,357) – (2,357)Common shares – – – (15,239) – – – (15,239) – (15,239)Put option – non-controlling interest – – (35,891) – – – – (35,891) – (35,891)Stock-based compensation – – (35,891) – – – – (35,891) – (35,891)Transfer relating to the exercise of stock options – 972 (972) – – – – – – -Balance, end of period 181,411 489,944 (23,055) 2,272,116 29,855 (45,681) (15,826) 2,904,590 12,460 2,917,050

Consolidated statementofcashflows (unaudited)

($000s)Three-month period ended January 31, 2025 January 31, 2024CASHFLOWSFROMOPERATINGACTIVITIESNetincome 107,710 104,382Adjustmentsfornon-cashitemsinnetincome:Financial instruments at fair value through income (20,498) 16,537Amortization of premiums/discount (2,830) 3,130Amortization of capital and intangible assets 14,823 11,441Provision for credit losses 18,678 15,535Securitizationgains (17,616) (14,516)Stock-based compensation 1,167 1,013Income taxes 36,992 39,370Securitizationretainedinterests 39,957 27,933Changesinoperatingassets andliabilities:Restricted cash 154,962 104,436Securities purchased under reverse repurchase agreements (539,896) 103,221Loans receivable, net of securitizations 625,297 (492,116)Other assets (21,739) (1,326)Deposits 848,736 201,362Securitizationliabilities (893,246) 883,231Obligations under repurchase agreements – (645,664)Funding facilities (178,143) (398,684)Other liabilities 51,673 (5,962)Incometaxespaid (39,231) (26,112)Cashflowsfrom (used in) operatingactivities 186,796 (72,789)CASHFLOWSFROMFINANCINGACTIVITIESProceeds from issuance of common shares 460 17,958Common shares repurchased (2,107) -Limited recourse capital notes (80) -Dividends paid on preferred shares – (2,357)Dividends paid on common shares (19,695) (15,239)Cashflows (used in) fromfinancingactivities (21,422) 362CASHFLOWS FROMINVESTINGACTIVITIESPurchase of investments (3,730) (336,419)Acquisition of subsidiary – (75,528)Proceeds on sale or redemption of investments 31,366 465,401Net change in Canada Housing Trust re-investment accounts 41,409 18,005Purchase of capital assets and system development costs (16,043) (4,747)Cashflows frominvestingactivities 53,002 66,712Net increase (decrease)incashandcashequivalents 218,376 (5,715)Cashandcashequivalents,beginningofperiod 591,641 549,474Cashandcashequivalents,endofperiod 810,017 543,759Cashflowsfromoperatingactivitiesinclude: 218,376 (5,715)Supplemental statement of cash flows disclosuresInterestreceived 709,697 688,329Interestpaid (416,436) (371,620)Dividendsreceived 218 549

About EQB Inc.

EQB Inc. (TSX: EQB) is a leading digital financial services company with $132 billion in combined assets under management and administration (as at January 31, 2025). It offers banking services through Equitable Bank, a wholly owned subsidiary and Canada's seventh largest bank by assets, and wealth management through ACM Advisors, a majority owned subsidiary specializing in alternative assets. As Canada's Challenger Bank™, Equitable Bank has a clear mission to drive change in Canadian banking to enrich people's lives. It leverages technology to deliver exceptional personal and commercial banking experiences and services to over 700,000 customers and more than six million credit union members through its businesses. Through its digital EQ Bank platform (eqbank.ca), its customers have named it one of Canada's top banks on the Forbes World's Best Banks list since 2021.

Please visit eqb.investorroom.com for more details.

Investor contact: Mike Rizvanovic Managing Director, Investor Relations investor_enquiry@eqb.com

Media contact: Maggie Hall Director, PR & Communications maggie.hall@eqb.com

Cautionary Note Regarding Forward-Looking Statements

Statements made by EQB in the sections of this news release, in other filings with Canadian securities regulators and in other communications include forward-looking statements within the meaning of applicable securities laws (forward-looking statements). These statements include, but are not limited to, statements about EQB's objectives, strategies and initiatives, financial performance expectation, statements with respect to EQB's intention to renew and/or make share repurchases under its NCIB, and other statements made herein, whether with respect to EQB's businesses or the Canadian economy. Generally, forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “intends”, “scheduled”, “planned”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases which state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”, or other similar expressions of future or conditional verbs. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, closing of transactions, performance or achievements of EQB to be materially different from those expressed or implied by such forward-looking statements, including but not limited to risks related to capital markets and additional funding requirements, fluctuating interest rates and general economic conditions including, without limitation global geopolitical risk, uncertainty arising from ongoing United States/Canada tariff concerns and related impacts, business acquisition, legislative and regulatory developments, changes in accounting standards, the nature of our customers and rates of default, and competition as well as those factors discussed under the heading “Risk Management” in EQB's Q1 MD&A and in EQB's documents filed on SEDAR+ at www.sedarplus.ca. All material assumptions used in making forward-looking statements are based on management's knowledge of current business conditions and expectations of future business conditions and trends, including their knowledge of the current credit, interest rate and liquidity conditions affecting EQB and the Canadian economy. Although EQB believes the assumptions used to make such statements are reasonable at this time and has attempted to identify in its continuous disclosure documents important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. Certain material assumptions are applied by EQB in making forward-looking statements, including without limitation, assumptions regarding its continued ability to fund its mortgage business, a continuation of the current level of economic uncertainty that affects real estate market conditions, continued acceptance of its products in the marketplace, as well as no material changes in its operating cost structure and the current tax regime. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. EQB does not undertake to update any forward-looking statements that are contained herein, except in accordance with applicable securities laws.

Non-Generally Accepted Accounting Principles (GAAP) Financial Measures and Ratios

In addition to GAAP prescribed measures, this news release references certain non-GAAP measures, including adjusted financial results, that we believe provide useful information to investors regarding EQB's financial condition and results of operations. Readers are cautioned that non-GAAP measures often do not have any standardized meaning, and therefore, are unlikely to be comparable to similar measures presented by other companies.

Adjustments listed below are presented on a pre-tax basis:

Q1 2025

— $2.8 million new office lease related expenses prior to occupancy,

— $1.8 million non-recurring operational effectiveness expenses and acquisition and integration-related costs,

— $2.0 million intangible asset amortization, and

— $5.0 million provision for credit losses associated with an equipment financing purchase facility(1).

Q4 2024

— $8.8 million fair value adjustment on a covered bond maturity,

— $2.2 million new office lease related expenses prior to occupancy,

— $0.8 million non-recurring operational effectiveness expenses and acquisition and integration-related costs,

— $2.1 million intangible asset amortization, and

— $16.1 million provision for credit losses associated with an equipment financing purchase facility(1).

Q1 2024

— $2.1 million acquisition and integration-related costs, and

— $3.4 million intangible asset amortization.

(1) This adjustment related to the provision provided for the equipment financing loans acquired from a Canadian subsidiary of Pride Group Holdings Inc.

The following table presents a reconciliation of GAAP reported financial results to non-GAAP adjusted financial results (unaudited).

Reconciliation of reported and adjusted financial results For the three months ended($000, except share and per share amounts) 31-Jan-25 31-Oct-24 31-Jan-24Reported resultsNet interest income 263,386 255,774 256,010Non-interest revenue 59,249 56,998 42,762Revenue 322,635 312,772 298,772Non-interest expense 159,255 153,625 139,485Pre-provision pre-tax income(3) 163,380 159,147 159,287Provision for credit loss 18,678 47,987 15,535Income tax expense 36,992 31,740 39,370Net income 107,710 79,420 104,382Net income available to common shareholders 107,402 75,382 101,875AdjustmentsNet interest income – covered bond fair value adjustment – 8,804 -Non-interest expenses – new office lease related expenses (2,789) (2,208) -Non-interest expenses – non-recurring operational effectiveness and Acquisition-related costs(1) (1,782) (755) (2,053)Non-interest expenses – intangible asset amortization (1,969) (2,115) (3,398)Provision for credit loss – equipment financing (5,018) (16,085) -Pre-tax adjustments 11,558 29,967 5,451Income tax expense – tax impact on above adjustments(2) 3,039 7,988 1,483Post-tax adjustments – net income 8,519 21,979 3,968Adjustments attributed to minority interests (261) (288) (124)Post-tax adjustments – net income to common shareholders 8,258 21,691 3,844Adjusted resultsNet interest income 263,386 264,578 256,010Non-interest revenue 59,249 56,998 42,762Revenue 322,635 321,576 298,772Non-interest expense 152,715 148,547 134,034Pre-provision pre-tax income(3) 169,920 173,029 164,738Provision for credit loss 13,660 31,902 15,535Income tax expenses 40,030 39,728 40,853Net income 116,230 101,399 108,350Net income available to common shareholders 115,662 97,073 105,719Diluted earnings per shareWeighted average diluted common shares outstanding 38,781,523 38,723,974 38,344,339Diluted earnings per share – reported 2.77 1.95 2.66Diluted earnings per share – adjusted 2.98 2.51 2.76Diluted earnings per share – adjustment impact 0.21 0.56 0.10(1) Includes non-recurring operational effectiveness and acquisition and integration-related costs associated with Concentra Bank and ACM. (2) Income tax expense associated with non-GAAP adjustment was calculated based on the statutory tax rate applicable for that period. (3) This is a non-GAAP measure, see Non-GAAP financial measures and ratios section.

Other non-GAAP financial measures and ratios:

— Adjusted return on equity (ROE)is calculated on an annualized basis and is defined as adjusted net income available to common shareholders as a percentage of weighted average common shareholders' equity (reported) outstanding during the period.

— Assets under administration (AUA):is sum of (1) assets over which EQB's subsidiaries have been named as trustee, custodian, executor, administrator, or other similar role; (2) loans held by credit unions for which EQB's subsidiaries act as servicer.

— Assets under management (AUM):is the sum of total balance sheet assets, loan principal derecognized but still managed by EQB, and assets managed on behalf on investors.

— Loans under management (LUM):is the sum of loan principal reported on the consolidated balance sheet and loan principal derecognized but still managed by EQB.

— Net interest margin (NIM):this profitability measure is calculated on an annualized basis by dividing net interest income by the average total interest earning assets for the period.

— Pre-provision pre-tax income (PPPT):this is the difference between revenue and non-interest expenses.

— Total loan assets:this is calculated on a gross basis (prior to allowance for credit losses) as the sum of both Loans – Personal and Loans – Commercial on the balance sheet and adding their associated allowance for credit losses.

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