Slides
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EQ Bank is a trade name of Equitable Bank. ®/TM PC, PC Financial, and PC Optimum are trademarks of Loblaws Inc. Used under License. EQB Inc. Q3 2026 Results TSX: EQB August 27, 2026
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2 Caution Regarding Forward - Looking Statements Certain forward-looking statements may be made in this presentation, including statements regarding possible future business, fi nancing, growth objectives. Such forward looking information is presented for the purpose of assisting the holders of EQB Inc., an Ontario corporation (“EQB”), securities and financial analysts in understanding its financial position and results of operations as at and for the periods ended on the dates presented, as well as its financial performance objectives, vision and strategic goals, and may not be appropriate for other purposes. Forward-looking statements are typically identified by words such as “believe”, “expect”, “foresee”, “forecast”, “anticipate”, “ intend”, “estimate”, “goal”, “plan” and “project” and similar expressions of future or conditional verbs such as “will”, “may”, “should”, “could” or “would” or negative or grammatical variations thereof. These statements inc lude, but are not limited to, statements relating EQB’s size, operations, capabilities, growth drivers and opportunities, activities, attributes, profile, business services portfolio and loans, revenue and assets mix, ma rket position, profitability, performance, and strategy; financial performance; expectations regarding EQB's business model, plans and strategy, the maintenance of Equitable Bank CET1 or other capital ratios; changes i n adjusted EPS; financial performance objectives, vision and strategic goals; the economic and market review and outlook; the regulatory environment in which we operate; the outlook and priorities for each of our bus iness lines; the risk environment including liquidity, funding and interest rate risk; EQB’s intention to make share repurchases under the NCIB, the timing or impact of acquisitions, including but not limited to EQB's announced acquisition of PC Financial1 from Loblaw Companies Limited (the Acquisition), entering into the related commercial arrangement and future communications and disclosures regarding the Acquisition, the tim ing and expected benefits of such transactions, statements relating to the expected impact of the Acquisition, the anticipated benefits of the Acquisition, including the expected impact on EQB's size, operations, cap abilities, growth drivers and opportunities, activities, attributes, profile, business services portfolio and loans, revenue and assets mix, market position, profitability, performance, and strategy; the expected impact o f the Acquisition on EQB's financial performance; expectations regarding EQB's business model, plans and strategy, the maintenance of CET1 ratio and changes in adjusted EPS; strategic fit and complementarity of PC Financial and Equitable Bank; anticipated synergies and estimated transaction and integration costs and the timing of incurrence thereof, as well as EQB's financial performance objectives, vision and strateg ic goals, the economic and market review and outlook, the regulatory environment in which we operate, the outlook and priorities for each of its business lines, the expected impact on PC Financial customers and employe es, the risk environment including liquidity and funding risk, and statements by EQB representatives. By their very nature, forward-looking statements require EQB to make assumptions and are subject to inherent risks and uncertain ties, which give rise to the possibility that such predictions, forecast, projections, expectations or conclusions will not prove to be accurate, that such assumptions may not be correct and/or that the financial performance objectives, vision and strategic goals will not be achieved. As such, there can be no assurance that the expectations represented by any forward -looking statements will prove to be correct. Although EQB believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that these expectations will prove to have been correct. Certain important assumptions by EQB in making forward-looking statements include, but are not limited to; the maintenance of the Equitable Bank’s CET1 ratio; EQB’s ability to execute its transformation plan and strategy; the ability of EQB to access the capital markets; the absence of significant undisclosed costs or liabilities associated with the Acquisition; the expectation of regulatory stability; no downturn in economic conditions; sufficient liquidity and capital re sources; no material changes in competition, market conditions or in government monetary, fiscal and economic policies; the maintenance of credit ratings and the strategic fit and complementarity of PC Financial and EQB; anticipated synergies and estimated transaction and integratio n costs and the timing of incurrence thereof. EQB cautions readers against placing undue reliance on forward-looking statements when making decisions, as the actual results c ould differ considerably from the opinions, plans, objectives, expectations, forecasts, estimates and intentions expressed in such forward-looking statements due to various factors. These risks and uncertainties, man y of which are beyond EQB’s control and the effects of which can be difficult to predict, also include, but are not limited to, global geopolitical risk, uncertainty arising from ongoing United States/Canada tariff concerns and related impacts, global economic conditions and market activity, changes in government monetary and economic policies, legislative and regulatory developments, changes in accounting standards, changes in competition as well as the possibility that the Acquisition will not be completed on the terms and conditions, or on the timing, currently contemplated, and that it may not be completed at all due to a failure to o btain or satisfy, in a timely manner or otherwise, required conditions of closing necessary to complete the Acquisition or for other reasons; the possibility of adverse reactions or changes in business relationships resu lting from the announcement or completion of the Acquisition; the retention of key personnel of EQB and PC Bank; the integration of PC Financial and the realization of the anticipated benefits and synergies of the Acquisi tion in the timeframe anticipated, including impact and accretion in various financial metrics. The preceding list is not exhaustive. Investors are cautioned that such forward -looking statements involve risks and uncertainti es detailed from time to time in EQB’s periodic reports filed with Canadian regulatory authorities. Many factors could cause actual results, performance or achievements to be materially different from any future results, perf ormance or achievements that may be expressed or implied by such forward looking statements. EQB does not undertake to update any forward -looking statements, oral or written, made by it or on its behalf except in accordance with applicable securities laws. Additional information on items of note, reported results, risk factors and assumptions related to forward -looking statements are available in EQB’s Q3 2026 MD&A and oth er public filings available on SEDAR+. EQB Inc. is not affiliated with, and should not be confused with, Equitable Holdings Inc., Equitable Financial Corp. or Equit able Financial Group Inc. Non-IFRS and other financial measures Our financial condition and results of operations, as well as any measures derived using such quantitative metrics, in this d ocument are presented on an International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board basis. EQB also uses a number of financial measures when assessing its results and overall performance. Some of these financial measures are not calculated in accordance with IFRS. We present non-IFRS financial measures because management uses these measure to assess its own performance and we believe such measures may help readers analyze EQB’s results and assess results before certain items that may not reflect EQB’s underlying performance. Readers are cautioned that EQB’s non -IFRS financial measures do not have standardized meanings under IFRS and may not be comparable to similar measures used by other companies or peers. Further information regarding the composition of our non -IFRS financial measures and reconciliations of such measures to the mos t closely comparable IFRS measures are provided in the Glossary section of the Third Quarter 2026 MD&A, which is available on SEDAR+. 1. On July 1, 2026, EQB completed the previously announced acquisition of PC Financial, comprising President’s Choice Bank (PC B ank), PC® Financial Insurance Agency Inc., PC® Financial Insurance Broker Inc. and certain other affiliated entities of PC Bank. In connection with the closing of the Acquisition, EQB entered into a long -term strategic relationship with Loblaw pursuant to a commercial agreement to become the exclusive financial partner of Loblaw and the PC Optimum loyalty program. PC Financial is also referred to in this presentation as "PCF".
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Chadwick Westlake Chief Executive Officer
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4 Q3 2026 Highlights (one month of PCF): Total Revenue ($MM) Loans Under Management & Deposits ($B) >4 million total Customers ~2X Revenue1,3 $4.5B in Cards LUM $32B in Purchase Volumes2 ~4,600 places to be EQ Branded >90K PC Insurance Home & Auto Policies 1. Excludes loyalty redemption expense 2. TTM transaction volumes 3. Pro-forma assuming a full quarter impact of results from PCF PCF contributed meaningfully to adjusted earnings with 1 month of results in Q3/26 Annualized synergies of ~$15 million (pre-tax) captured in the first month Significantly diversifies our revenue base with ~2x of total revenue and ~3x increase in non-interest revenue3 (pro-forma assuming a full year contribution from PCF) NII NIR1 NII NIR1 LUM Deposits Redefining Challenger Banking PC Financial (PCF) and exclusive Financial Partner for PC Optimum 77.1 82.5 36.0 36.8 Q2/26 Q3/26 $302MM 42 (14%) 261 (86%) 106 (25%) 319 (75%) $425MM Q2/26 Q3/26 ~70% Accountholders are Super-prime 1 2 3
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5 2. Reigniting the core business Strengthening the platform to convert momentum into growth Q3/26 – Unlocking the next phase of growth 3. Driving value through thoughtful capital allocation Clear strategy, and a unique opportunity to help millions more Canadians get ahead 1. Diversified franchise with growing earnings power Reshaping the growth trajectory post acquisition
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Anilisa Sainani Chief Financial Officer
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7 Q3/26 Consolidated Financial Highlights – First Month of PCF In $MM, except for per share amounts Adjusted1 Reported Q3/26 Q/Q Y/Y Q3/26 Q/Q Y/Y Revenue 393.0 30% 27% 391.3 29% 28% NIX 196.8 32% 19% 256.3 40% 50% PPPT 196.2 28% 36% 135.0 13% (0%) PCLs 83.9 85% 147% 303.0 568% 792% Net Income 81.3 4% 1% (127.2) n.m. n.m. Key Metrics NIM 2.41% 33 bps 44 bps 2.41% 33 bps 47 bps Efficiency Ratio 50.1% 70 bps (330 bps) 65.5% 500 bps 970 bps PCLs Ratio 0.71% 37 bps 46 bps 2.58% 224 bps 233 bps Impaired PCLs Ratio 0.42% 10 bps 22 bps 0.42% 10 bps 22 bps Diluted EPS ($) $2.12 4% 2% ($3.36) n.m. n.m. ROE 10.3% 10 bps 20 bps (16.2%) n.m. n.m. ROTCE 11.1% 40 bps 50 bps (17.1%) n.m. n.m. BVPS ($) 86.86 7% 5% 86.86 7% 5% CET1 Ratio 13.4% (20 bps) 10 bps 13.4% (20 bps) 10 bps • Diluted EPS up 2% • Up 4% Q/Q: positive impact of PCF, dynamic operating environment and impact of share issuance • Net income up 1% • PCF contributed to adjusted net income (see Slide 23 for additional details) • Revenues up 27% • Up 30% Q/Q mostly driven by PCF • NIM up 44bps • Up 33bps Q/Q: PCF and stables margins in the residential and commercial portfolios (adj. for days) • Expenses up 19% • Up 32% Q/Q: PCF, higher spend on strategic initiatives and disciplined expense mgmt. • Operating leverage +7.8% • Q/Q: -1.9% • PCLs up 46bps • Up 37bps Q/Q: PCF and higher performing and impaired provisions • Capital • 7.2 million shares issued for PCF; dividend up 3% Q/Q to $0.63 • Strong CET1 at 13.4% HIGHLIGHTS (Y/Y, UNLESS OTHERWISE NOTED) n.m. – not meaningful 1. Adjusted measures and ratios, LUM, NIM, and PPPT are Non-GAAP measures. For additional information, see adjustments to financial results and Non-GAAP financial measures and ratios section in the Q3/26 MD&A
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8 Balance Sheet – Growth despite a difficult backdrop 9.9 2.3 4.6 19.3 Q4/25 9.9 2.3 4.7 19.9 Q1/26 10.0 2.0 4.4 9.7 Q2/26 10.8 1.84.0 20.2 Q3/26 2.4 4.6 19.2 Q3/25 35.8 36.1 36.9 36.0 36.8 19.6 +3% +2% • +7% Q/Q: Addition of PCF credit cards, growth in insured multi-unit residential (off B/S) and residential (uninsured), partly offset by declines in residential (insured) • +12% Y/Y: Growth in insured multi-unit residential (off B/S), addition of PCF credit cards and residential (uninsured), partly offset by decline in residential (insured) and commercial (on B/S) • +2% Q/Q: Growth in retail direct and brokered deposits and other, partly offset by lower wholesale funding • +3% Y/Y: Growth in retail direct and brokered deposits and other, partly offset by lower wholesale funding and credit union deposits 15.4 28.3 7.1 23.8 Q4/25 14.6 30.3 6.6 24.1 Q1/26 14.3 32.2 6.2 24.3 15.8 14.3 33.3 4.55.9 24.5 Q3/26 26.7 7.8 23.6 Q3/25 73.8 74.5 75.7 77.1 82.5 Q2/26 +12% +7% Loans Under Management ($B) 1. Effective May 1, 2026, consumer lending balances were reclassified from Loans – Personal to Loans – Commercial. All prior period comparative information, including related balances and subtotals, has been re -presented to conform to the current period presentation. 2. Wholesale Funding includes Covered Bonds (Q3/26: $1.6B; Q2/26: $2.1B; Q1/26: $2.1B; Q4/25: $2.1B Q3/25: $2.4B) and Deposit Notes (Q3/26: $2.4B; Q2/26: $2.4B; Q1/26: $2.6B; Q4/25: $2.4B; Q3/25: $2.1B) 3. Brokered Deposits (Q3/26: $18.8B; Q2/26: $18.1B; Q1/26: $18.5B; Q4/25: $17.8B; Q3/25: $17.6B); Other (Q3/26: $1.4B; Q2/26: $1.5B; Q1/26: $1.5B; Q4/25:$1.5B; Q3/25: $1.6B) includes deposits from Strategic Partnerships and Corporate & Institutional Y/Y -10% +25% +4% Y/Y +11% -25% -13% +6% Com. (on B/S)1 Com. (off B/S) Credit cards Residential – insured Residential – uninsured1 Retail - Direct Credit Union Wholesale Funding2 Brokered Deposits & Other3 Total Deposit Principal ($B) HIGHLIGHTS n.a. -25%
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9 Net Interest Income (NII) – Structurally higher margins 1.97% 2.01% 2.02% 2.08% 1.94% 2.17% 2.41% Q3/25 Q4/25 Q1/26 Q2/26 Q3/26 Adjusted NIM Reported NIM Q2/26 Asset yields, mix & other Liabilities cost 2.08% 30bps 3bps 2.41% NII • +22% Q/Q: Higher average earning assets and higher NIMs • +22% Y/Y: Higher average earning assets and higher NIMs NIM • +33bps Q/Q: Addition of higher yielding PCF credit cards, with stable margins in the residential and commercial portfolios (adjusted for days impact) Adjusted NIM (%)1 1. Adjusted measures and ratios, LUM, NIM, and PPPT are Non-GAAP measures. For additional information, see adjustments to financial results and Non-GAAP financial measures and ratios section in the Q3/26 MD&A NII and NIM ($MM | %) HIGHLIGHTS 258 286 263 261 319 263 265 263 261 319 Reported NII Adjusted NII PCF impact: 38bps Q3/26
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10 Non - Interest Revenue (NIR) – Addition of cards & insurance NIR ($MM)1,2 Adjusted • +77% Q/Q: PCF including interchange and fee income from the credit card portfolio and insurance business, partly offset by lower securitization gains • +55% Y/Y: PCF including interchange and fee income from the credit card portfolio and insurance business, partly offset by lower securitization gains and lower gains on hedging and derivatives Reported • +73% Q/Q and +51% Y/Y: Similar explanations as above, however, includes the impact of a strategic investment of $1.7MM 1. Effective November 1, 2024, interest income earned on securitized retained interests is reported in Interest income – Investments and interest expense incurred on servicing liabilities is reported in Interest expense – Securitization liabilities. Previously, these amounts were included in Non-interest revenue. Prior period comparative figures have been updated to conform to current period presentation. 2. Adjusted measures and ratios, LUM, NIM, and PPPT are Non-GAAP measures. For additional information, see adjustments to financial results and Non-GAAP financial measures and ratios section in the Q3/26 MD&A HIGHLIGHTS Reported NIR $43.4$30.7$47.7 $41.6 $72.2 24.7 21.7 26.4 26.2 61.618.1 13.5 16.2 14.1 9.0 4.4 10.8 0.5 Q3/25 -2.5 Q4/25 0.8 Q1/26 2.1 -0.8 Q2/26 2.60.6 Q3/26 47.7 43.5 43.4 41.6 73.9 +55% +77% Net gains on strategic & other investments Net (losses) gains on hedging and derivatives Gain on sale from securitization activities Fees and other income 14.1%14.4%12.2% 13.5% 23.8% % of Total Revenue
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11 Q3/25 NIX 1.4Comp & Benefits 14.2Product 3.7Tech & Systems 5.4Marketing & Corp 5.3Reg, Legal & Prof 1.3Premises 196.9Q3/26 NIX 165.5 Non - Interest Expenses (NIX) – Positive operating leverage NIX and Efficiency Ratio (%) 53.4 53.6 49.1 49.4 50.1 55.8 82.5 51.6 60.5 65.5 Adjusted Efficiency Ratio Reported Efficiency Ratio % of Q3/26 NIX People (40%) Regulatory & Premises (14%) Growth related (46%) Adjusted: • +32% Q/Q: PCF, higher corporate costs from strategic investment spend and favourable expense impacts in Q2, and disciplined expense management • +19% Y/Y: PCF, partly offset by benefits from the restructuring program and disciplined expense management Reported: • +40% Q/Q: PCF including acquisition and integration related costs, acquisition-related intangible amortization and impairments, and disciplined expense management • +50% Y/Y: PCF including acquisition and integration related costs, acquisition-related intangible amortization and impairments, partly offset by continued benefits from the strategic restructuring program and disciplined expense management Adjusted NIX ($MM)1 +19% Contribution to Y/Y Increase in Total NIX (%) +1% +14% +4% 1. Adjusted measures and ratios, LUM, NIM, and PPPT are Non-GAAP measures. For additional information, see adjustments to financial results and Non-GAAP financial measures and ratios section in the Q3/26 MD&A HIGHLIGHTS 171 261 158 183 256 166 165 151 149 197 Q3/25 Q4/25 Q1/26 Q2/26 Q3/26 Reported NIX Adjusted NIX
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12 Capital – Supports investment & shareholder returns Q2/26 259bps Share issuance (17bps) Internal capital generation (269bps) Net RWA growth Q3/26 13.6% 13.4% -20bps 4,828 200 Q2/26 Impact of PCF Credit risk (20) Op risk Q3/26 20,397 25,405 +25% CET1 (%) Risk Weighted Assets ($MM) HIGHLIGHTS • Down 20bps Q/Q: Higher RWA (see below), mostly offset by the issuance of common shares, and impact of modestly negative internal capital generation • NCIB continues to be a part of EQB’s capital allocation framework • Total capital of 16.6% • Up 25% Q/Q: increase primarily driven by the addition of PCF assets
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Puneesh Arora Chief Risk Officer
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14 Allowance for credit losses – Addition of unsecured cards portfolio and prudence on real estate risk 1. PCLs presented do not include provisions on debt securities ($0.05MM in Q3/26) 2. Net ACL presented includes reserves on consumer loans. As of July 31, 2026, the consumer lending portfolio is backed by guara ntees of $19MM provided by a third party 3. Includes $5.9MM of direct write-offs in our equipment financing portfolio 4. Other includes changes in the cash reserves on the consumer lending portfolio • ACL on portfolio loan assets increased $258MM q/q, including $219MM Day 1 PCL associated with the closing of the PCF acquisition. • $48.8MM increase on impaired provisions this quarter, with provisions across commercial banking (excl. equipment financing), personal banking and equipment financing, partially offset by $1.6MM recovery in credit cards. • Excluding the impact of the cards portfolio, net ACL % of PLA would have been up 4bps to 0.50% Allowance for Credit Losses on Portfolio Loan Assets1 (PLA) ($MM) 20.8 11.3 2.0 48.8 PCF Day 1 (one-time) PCF (1st month) Credit Quality Macroeconomic Outlook3 1.1 Other4 (1.5) Realized Losses & Write-offs (44.0) PCL on Impaired3 Portfolio Growth $227.9 219.1 485.4 Q3/26Q2/26 PLA: $45,068 Net ACL2 % of PLA: 0.46% PLA: $49,269 Net ACL2 % of PLA: 0.95% Excl. PCF Day 1, PCL $35.2MM PCL on Performing Loans of $254.2MM
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15 Consolidated ($MM | bps) Commercial – Ex. EF1 ($MM | bps) Personal – Residential ($MM | bps) Commercial - Equipment Financing ($MM | bps) 19 Q3/25 30 Q4/25 32 Q1/26 35 Q2/26 42 Q3/26 22.9 35.1 36.1 39.2 48.8 12 Q3/25 16 Q4/25 12 Q1/26 17 Q2/26 22 Q3/26 9.2 12.1 9.5 13.0 17.0 19 Q3/25 34 Q4/25 66 Q1/26 69 Q2/26 76 Q3/26 6.8 12.3 23.0 22.9 24.9 PCL on Impaired Loans – Remained elevated in personal & commercial • Consolidated: up 24% Q/Q • Residential: increased $4.0MM Q/Q reflecting continued economic uncertainty and extended resolution timelines. • Commercial ex. EF: relatively flat Q/Q. PCL concentrated in a small number of longer standing impaired loans moving towards resolution • Equipment Financing: up $5.2MM Q/Q, reflects new lease defaults and declines in underlying asset values 248 Q3/25 391 Q4/25 135 Q1/26 121 Q2/26 308 Q3/26 6.9 10.7 3.6 3.2 8.4 HIGHLIGHTS 1. Effective May 1, 2026, consumer lending balances were reclassified from Loans – Personal to Loans – Commercial. All prior period comparative information, including related balances and subtotals, has been re -presented to conform to the current period presentation. 2. Prior period results are not applicable given the closing date of July 1, 2026
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16 Gross Impaired Loans – Lower new formations Gross Impaired Loans (GIL) ($MM | bps) New Formations ($MM | bps) Gross Impaired Loans ($MM) 123 105 142 123 131 72 89 116 64 31 9 13 Q3/25 41 15 Q4/25 52 09 Q1/26 54 4 Q2/26 41 9 Q3/26 145 192 239 243 204 New formations as a % of loans Commercial - ex. EF1 Personal - Residential Personal - Credit Cards Commercial - Equipment Financing 204 Q2/26 3 PCF Impact (POCI) New Formations 11 Change in Existing (136) Discharges/ Return to Performing (44) Net write-offs Q3/26 1,033 1,071 • Total GIL: Up $38MM however the GILs ratio dropped 12 bps Q/Q due to portfolio growth incl. the addition of the PCF cards portfolio and lower formations • Residential: Up $23MM due to a continued subdued residential real estate market driving extended resolution times • Commercial ex. EF.: Up $7MM driven by new formations, partly offset by resolutions and write-offs amid a subdued real estate market.. • Credit Cards: $3MM represents POCI portfolio • Equipment Fin.: Up $5MM driven by the non-transportation segments HIGHLIGHTS 349 364 418 461 484 411 450 484 526 533 172 188 210 229 217 55 Q3/25 57 Q4/25 53 Q1/26 46 Q2/26 351 Q3/26 815 871 956 1,033 1,071 Gross Impaired Loan ratio Commercial – ex. EF1 Personal – Residential Personal – Credit cards Equipment Financing (% insured) 13.7%7.7%4.3% 13.9%7.1% 1. Effective May 1, 2026, consumer lending balances were reclassified from Loans – Personal to Loans – Commercial. All prior period comparative information, including related balances and subtotals, has been re -presented to conform to the current period presentation.
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Q&A
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Appendix
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19 7.1 20.9 Q4/25 3.0 6.6 21.1 Q1/26 3.2 6.2 21.1 Q2/26 2.7 4.5 5.9 21.2 Q3/26 7.8 20.8 Q3/25 2.9 31.4 30.9 30.8 30.6 34.9 3.3 +11% +14% Personal and Commercial Banking – Loans Under Mgmt. Commercial Banking 4.4 Q3/25 1.91.1 1.61.9 4.5 32.6 Q4/25 1.91.1 1.61.9 4.2 34.2 Q1/26 1.91.1 31.4 2.0 4.3 35.7 Q2/26 1.81.1 1.71.9 4.7 36.4 Q3/26 2.01.1 1.61.8 1.6 43.6 45.0 46.5 47.6 42.4 +12% +2% Specialized financing loans1 Equipment financing Mortgages – to small business Mortgages – to corporates Construction loans Insured multi-unit residential mortgages Personal Banking Decumulation loans Credit cards Single-family mortgages – insured Single-family mortgages – uninsured Loans Under Management1 (LUM) by Business ($B) +19%+23% Excl. Insured 1. Effective May 1, 2026, consumer lending balances were reclassified from Loans – Personal to Loans – Commercial. All prior period comparative information, including related balances and subtotals, has been re -presented to conform to the current period presentation.
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20 Consolidated Including Cards1 ($MM | bps) Commercial – Conventional2 & Insured ($MM | bps) Personal – Residential ($MM | bps) Equipment Financing ($MM | bps) 0.66% 0.56% 0.74% 0.71% 0.66% 231 81 Q3/25 194 68 Q4/25 261 78 Q1/26 222 97 Q2/26 208 107 8 Q3/26 312 262 339 319 323 30-59 days 60-89 days 90-179 days 0.72% 0.76% 0.97% 0.83% 0.73% 168 59 Q3/25 178 59 Q4/25 231 71 Q1/26 167 87 Q2/26 152 72 Q3/26 227 237 301 255 224 30-59 days 60-89 days 0.45% 0.11% 0.19% 0.38% 0.21% 52 17 Q3/25 87 Q4/25 21 5 Q1/26 45 5 Q2/26 16 12 Q3/26 69 15 26 50 28 30-59 days 60-89 days 1.39% 0.89% 1.11% 1.30% 1.08% 11 5 Q3/25 8 1 Q4/25 9 3 Q1/26 10 4 Q2/26 9 3 Q3/26 16 10 12 14 13 30-59 days 60-89 days Delinquent loans past due but not impaired 1. Credit card balances do not move to impaired as they are written off after payments are 180 days past due 2. Effective May 1, 2026, consumer lending balances were reclassified from Loans – Personal to Loans – Commercial. All prior period comparative information, including related balances and subtotals, has been re -presented to conform to the current period presentation. 0.59% ex. $58.8MM in Credit Cards
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21 Personal Portfolio – Selected Data SFR Portfolio by Region ($B)1 SFR stats1 Uninsured SFR Mortgage Portfolio - credit score by LTV 8% 6% 8% 11% 7% 5% 6% 8% 5% 4% 5% 7% 5% 3% 5% 7% >80% > 75% to ≤80% >65% to ≤75% ≤65% 750 or more 700-749 650-699 649 or less 4.4 (16%) 2.6 (10%) 4.0 (15%) 16.0 (59%) $27.0 billion 1. Excludes HELOC balances 2. Based on property values estimated using the Teranet National Bank House Price Indices, adjusting for EQB’s unique portfolio by using sub -indices corresponding to the 11 cities in Teranet-National Bank National Composite 11 to estimate property values loan by loan. The index is based on actual transaction dates and prices, w hich EQB believes to be most accurate and representative; however, may lag other indices leveraging data tied to date of sale Mortgage balance $5.9 billion LTV at origination 90% Current LTV2 52% 90+ Days Past Due 24 bps Average Duration Remain Mortgage Amort. 178 months Original Term 57 months Remaining Term 30 months Portfolio Mix Fixed Rate Mortgage 78% Owner Occupied 98% Condo 3% $21.1 billion 71% 69% 184 bps 303 months 32 months 19 months 73% 79% 12% Insured Uninsured Alberta, Manitoba & Saskatchewan Atlantic provinces & Quebec British Columbia and Territories Ontario Credit cards stats Average FICO score Average credit utilization rate 768 24%
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22 Commercial Portfolio 1 – Selected Data Portfolio by Region ($B) Portfolio by Segment ($B) Excludes off-balance sheet multi-unit residential mortgages (Q3 2026: $33.3B derecognized loan principal) • Core CRE lending approach includes first lien only, max 75% loan-to-value and focus on asset classes more resilient through economic downturns • Controlled and reduced exposure to higher risk asset classes like land, condo construction and office • No direct exposure to tariff impacted industries 1. Effective May 1, 2026, consumer lending balances were reclassified from Loans – Personal to Loans – Commercial. All prior period comparative information, including related balances and subtotals, has been re - presented to conform to the current period presentation. 2. Includes Retail, Industrial, Owner Occupied, Office exposure and Consumer Lending 2.7 (19%) 3.8 (27%) 1.5 (11%) 6.2 (43%) Alberta, Manitoba & Saskatchewan Atlantic provinces & Quebec British Columbia and Territories Ontario $14.3 billion 3.8 (27%) 4.6 (32%) 0.6 (4%) 0.9 (6%) 3.2 (22%) 1.1 (8%) $14.3 billion Multi Unit Residential Construction Mixed REIT Other2 Equipment Financing Commercial ex. EF • Reduced exposure to long-haul transportation, representing 24% of the portfolio vs. 33% the prior year • Implemented a series of credit tightening changes to improve quality of the portfolio • Prime customers represent 57% of the portfolio vs. 52% the prior year Equipment Financing
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23 Q3/26 – PCF Financial Highlights (One - Month of Results) In $MM Adjusted1 Reported EQB ex. PCF PCF2 PPA Total EQB ex. PCF PCF3 Total Net interest income 260.1 45.8 13.3 319.2 260.1 59.1 319.2 Non-interest revenue 38.0 22.0 13.8 73.8 36.3 35.8 72.1 Revenue 298.1 67.8 27.1 393.0 296.4 94.9 391.3 NIX 159.0 37.8 - 196.8 215.5 40.8 256.3 PPPT 139.1 30.0 27.1 196.2 80.9 54.1 135.0 PCLs 64.7 19.2 - 83.9 64.7 238.3 303.0 Net Income 52.1 9.5 19.7 81.3 4.6 (131.8) (127.2) • PC Financial (PCF) contributed $68MM to revenues, $38MM to expenses and $10MM to net income in the 1 month of results included in Q3/26 • Adjusted revenue includes $27MM positive impact from the accretion of the fair value marks on financial instruments and other liabilities (see Slide 24 for additional details on the breakdown of Q3/26 and future quarterly impacts) • Day 1 PCLs of $219MM (pre-tax) excluded from adjusted PCLs (see Slide 24 for additional details) • Expense synergies of $15MM (pre-tax) achieved in first month post closing and on track to achieving $30MM (pre-tax) in the first 2 years post closing • Actions well underway to capture revenue synergies including cross-selling PC cards to the EQ customer base and exploring GIC and deposit products for the PC customer base which should have measurable impacts in the near term HIGHLIGHTS (Y/Y, UNLESS OTHERWISE NOTED) 1. Adjusted measures and ratios, LUM, NIM, and PPPT are Non-GAAP measures. For additional information, see adjustments to financial results and Non-GAAP financial measures and ratios section in the Q3/26 MD&A 2. Adjusted PCF results exclude impact of PPA as described below. Non-interest revenue and total revenue are net of loyalty costs 3. PCF includes impact of PPA of $27.1MM in revenue ($19.7MM after-tax); $3.0MM in NIX related to acquisition-related intangible amortization ($2.2MM after-tax) and Day 1 PCLs of $219MM pre-tax ($158.8MM after-tax)
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24 Estimated P&L (pre tax) P&L Treatment (in $MM unless otherwise noted) Total Amount (pre tax) Comments Amount Period1 Adjusted Not Adjusted Interest rate & credit fair value marks – financial instruments (amortizable portion) (182) Amortized using Effective Interest Rate method over expected life 13 Q3/26 x 49 F’26 x 96 F’27 x 37 F’28+ x Newly recognized intangibles (amortizing) 386 Amortized linearly over 5-12 years (3) Q3/26 x (383) Q4/26 - Q3/38 x Fair value mark – other liabilities (38) Recognized over expected settlement period 14 Q3/26 x 24 Q4/26 x Day 1 provision on performing loans (219) Fully accounted for as Q3 PCL (219) Q3/26 x 1. Q3/26 impact includes 1 month of results Key Accounting Considerations Related to the Acquisition of PC Financial
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25 Reconciliation from GAAP to Adjusted Results (1) Effective November 1, 2024, interest income earned from retained interests and interest expense incurred on servicing lia bilities are reclassed from Non-interest revenue to Net interest income. Prior period comparative figures have been updated to conform to current period presentation. (2) These are non-GAAP measures or ratios, see “Non-GAAP financial measures and ratios” section of this MD&A. (3) Income tax expense associated with non-GAAP adjustment was calculated based on the statutory tax rate applicable for that period. Reconciliation of reported and adjusted financial results ($000s, except share and per share amounts) 31-Jul-26 30-Apr-26 31-Jul-25 31-Jul-25 Reported results Net interest income (1) 319,174 260,732 258,483 807,265 Non-interest revenue (1) 72,159 41,632 47,646 137,449 Revenue 391,333 302,364 306,129 944,714 Non-interest expenses 256,279 182,858 170,954 491,399 Pre-provision pre-tax income (2) 135,054 119,506 135,175 453,315 Provision for credit loss 302,984 45,351 33,968 82,880 Income taxes (40,671) 22,839 27,843 99,069 Net income (127,259) 51,316 73,364 271,366 Net income attributable to common shareholders (127,580) 46,571 73,014 265,949 Adjustments Net interest income – covered bond fair value adjustment - - 4,035 4,035 Non-interest revenue – strategic investment exit 1,709 - - - Non-interest expenses – PC Financial acquisition and integration-related costs (37,420) (13,839) - - Non-interest expenses – acquisition-related intangible asset amortization and impairments (21,995) (1,969) (1,969) (5,907) Non-interest expenses – Business exit costs - (17,753) - - Non-interest expenses – new office lease related costs - - (857) (7,009) Non-interest expenses – accelerated incentive expense - - (2,594) (2,594) Non-interest expenses – non-recurring operational effectiveness and acquisition-related costs - - - (1,782) Provision for credit loss – acquired credit cards (219,061) - - - Provision for credit loss – equipment financing purchase facility - - - (5,018) Impact on net income before taxes from adjustments 280,185 33,561 9,455 26,345 Income taxes – tax impact on above adjustments (3) 71,639 6,568 2,561 7,014 Post-tax adjustments – net income 208,546 26,993 6,894 19,331 Adjustments attributed to minority interests (230) (228) (230) (750) Post-tax adjustments – net income to common shareholders 208,316 26,765 6,664 18,581 Adjusted results (2) Net interest income (1) 319,174 260,732 262,518 811,300 Non-interest revenue (1) 73,868 41,632 47,646 137,449 Revenue 393,042 302,364 310,164 948,749 Non-interest expenses 196,864 149,297 165,534 474,107 Pre-provision pre-tax income 196,178 153,067 144,630 474,642 Provision for credit loss 83,923 45,351 33,968 77,862 Income taxes 30,968 29,407 30,404 106,083 Net income 81,287 78,309 80,258 290,697 Net income attributable to common shareholders 80,736 73,336 79,678 284,530 Diluted earnings per share Weighted average diluted common shares outstanding 37,996,057 36,055,643 38,519,991 38,654,423 Diluted (loss) earnings per share – reported (3.39) 1.29 1.90 6.88 Diluted earnings per share – adjusted (2) 2.12 2.03 2.07 7.36 Diluted earnings per share – adjustment impact 5.51 0.74 0.17 0.48 - 1,709 (57,096) (25,933) (17,753) - - - (219,061) - 321,552 80,310 241,242 (687) 240,555 843,346 158,854 1,002,200 496,718 505,482 168,402 92,250 244,830 6.47 238,762 37,184,721 (0.05) 6.42 31-Jul-26 For the three months ended For the nine months ended (1,793) 3,588 11,940 387,463 402,991 597,500 1,000,491 157,145 843,346
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261. The Home Price Index growth rate % used by EQB is the Moody's Analytics Home and Land Price Index Macroeconomic variables used to estimate ECL on performing loans Next 12 months 2 to 5 years Next 12 months 2 to 5 years Next 12 months 2 to 5 years Next 12 months 2 to 5 years Unemployment rate (%) 6.7 6.1 6.2 5.6 8.4 7.7 9.4 9.3 Real GDP growth rate (%) 1.3 2.2 3.0 2.3 (2.4) 2.2 (4.4) 1.9 Home Price Index growth rate (%) (1) (1.0) 2.7 (0.1) 3.8 (3.4) (0.6) (4.6) (2.9) Commercial Property Index growth rate (%) 1.0 2.9 2.0 3.7 (1.8) 0.6 (3.1) (1.2) Household total real income growth rate (%) 1.3 1.9 1.7 2.3 (0.6) 1.5 (1.5) 0.9 Next 12 months 2 to 5 years Next 12 months 2 to 5 years Next 12 months 2 to 5 years Next 12 months 2 to 5 years Unemployment rate (%) 6.8 6.1 6.2 5.6 8.7 7.9 9.6 9.3 Real GDP growth rate (%) 1.0 1.9 2.8 2.0 (3.1) 2.0 (4.9) 1.6 Home Price Index growth rate (%) (1) (1.1) 2.5 (0.2) 3.7 (3.5) (0.8) (4.7) (3.0) Commercial Property Index growth rate (%) (0.6) 2.7 0.5 3.5 (3.3) 0.4 (4.6) (1.4) Household total real income growth rate (%) - 1.9 0.4 2.3 (1.9) 1.4 (2.7) 0.9 July 31, 2026 Base-Case Scenario Upside Scenario Downside Scenarios Pessimistic Very Pessimistic Scenario Scenario April 30, 2026 Base-Case Scenario Upside Scenario Downside Scenarios Pessimistic Very Pessimistic Scenario Scenario
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eqb.investorroom.com eqb.investorroom.com investor_enquiry@eqb.com Lemar Persaud SVP , Investor Relations & Enterprise Performance Management Danielle Mason Director, PR & Communications