goeasy Ltd. Reports Results for the Fourth Quarter and Full Year & Announces Increase to Automotive Securitization Facility

Annual Dividend per Share Increased to $4.68, up 22% from $3.84 MISSISSAUGA, Ontario, Feb. 13, 2024 (GLOBE NEWSWIRE) — goeasy Ltd. (TSX: GSY), (” goeasy” or the ”Company”), one of Canada’s leading non-prime consumer lenders, today reported results for the fourth quarter and full year ended December 31, 2023 and announced a $125 million increase to its existing revolving securitization warehouse facility collateralized by automotive consumer loans (the ”Automotive Securitization Facility”) from $375 million to $500 million, including a 1-year term extension. Fourth Quarter Results During the quarter, the Company generated loan originations of $705 million, up 12% compared to $632 million produced in the fourth quarter of 2022. The increase in lending was driven by a record volume of applications for credit, which were up 29% over the prior year. The Company experienced strong performance across several product and acquisition channels, including unsecured lending, point-of-sale lending and automotive financing. The increase in loan originations led to growth in the loan portfolio of $215 million and at the higher end of the Company’s forecasted range. At quarter end, the consumer loan portfolio was $3.65 billion, up 30% from $2.79 billion in the fourth quarter of 2022. The growth in consumer loans led to an increase in revenue, which was a record $338 million in the quarter, up 24% from $273 million in the fourth quarter of last year. During the quarter, the Company continued to experience stable credit and payment performance. The net charge off rate in the fourth quarter was 8.8%, down 20 basis points from 9.0% in

the fourth quarter of 2022, and at the lower end of the Company’s forecasted range of between 8.5% and 9.5%. The stable credit performance reflects the improved credit and product mix of the loan portfolio and proactive credit and underwriting enhancements. The Company’s allowance for future credit losses reduced slightly to 7.28%, compared to 7.37% in the third quarter. Operating income for the fourth quarter of 2023 was a record $137 million, up 81% from $76 million in the fourth quarter of 2022. Operating margin for the fourth quarter was a record 40.6%, up from 27.8% in the same period last year. After adjusting for unusual and non-recurring items, the Company reported record adjusted operating income2 of $141 million, an increase of 41% compared to $100 million in the fourth quarter of 2022. Adjusted operating margin1 for the fourth quarter was a record 41.6%, up from 36.5% in the same period in 2022. The efficiency ratio1 for the fourth quarter of 2023 was a record 28.3%, an improvement of 390 bps from 32.2% in the fourth quarter of 2022, reflecting an increase in operating leverage. Net income in the fourth quarter was $74.6 million, up 161% from $28.6 million in the same period of 2022, which resulted in diluted earnings per share of $4.34, up 154% from the $1.71 reported in the fourth quarter of 2022. After adjustments, adjusted net income2 was a record $69.0 million, up 35% from $51.0 million in the fourth quarter of 2022. Adjusted diluted earnings per share1 was a record $4.01, up 32% from $3.05 in the fourth quarter of 2022. Return on equity during the quarter was 28.9%, compared to 13.8% in the fourth quarter of 2022. Adjusted

return on equity1 was 26.7% in the quarter, an increase of 210 bps from 24.6% in the same period of 2022. ”The fourth quarter rounded out another record year for the company, in which we issued over $2.7 billion in loans to help non-prime Canadians meet their financial needs and enhance their lives,” said Jason Mullins, goeasy’s President and Chief Executive Officer, ”The benefits of scale and operating leverage have allowed us to continue reducing prices for borrowers, while absorbing higher funding costs and delivering healthy returns. Over time we have reduced the average rate of interest we charge our customers, while serving over 1.3 million Canadians and helping over 200,000 graduate back to prime so far,” Mr. Mullins continued, ”We are proud of the work we do to serve the over 9 million non-prime Canadians that have limited borrowing options and are excited to introduce our new outlook, which includes scaling the loan portfolio to approximately $6 billion by the end of 2026. We are truly just getting started.” Other Key Fourth Quarter Highlights easyfinancial easyhome Overall Full Year Results For the year of 2023, the Company funded a record $2.71 billion in loan originations, up 14% from $2.38 billion in 2022. The consumer loan receivable portfolio finished at $3.65 billion, up 30% from $2.79 billion as of December 31, 2022. For the year of 2023, the Company produced record revenues of $1.25 billion, up 23% compared to $1.02 billion in 2022. Operating income for the year was a record $477 million compared to $332 million in 2022, an increase of $144 million or 43%. Adjusted operating income2 for the y