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IPROPEL HOLDINGS PROPEL REPORTS Q3 2021 FINANCIAL RESULTS Loans and Advances Receivable increased by 138 % , Originations increased by 120 % , Ending Combined Loan and Advance Balances increased by 150 % and Revenue increased by 99 % , all reaching record levels TORONTO , ON , November 15 , 2021 – Propel Holdings Inc. ( " Propel ” or the “ Company ” ) ( TSX : PRL ) today reported its financial results for the three and nine month periods ending September 30 , 2021 ( " Q3 2021 ” ) . All amounts are expressed in U.S. dollars unless otherwise indicated . Management Commentary " By delivering record originations , revenue and loan and advance balances in Q3 2021 , we are well on our way to meeting our short term targets . With the recent implementation of variable pricing and graduation capabilities through our platform , as well as expansion of certain programs into new states over the course of the year , we have significantly increased the market that is able to be served by our platform . This places Propel in an excellent position to drive growth in Q4 , historically our strongest quarter of the year , and over the short term , and importantly allows us to continue to fulfill on our mission of credit inclusion , " said Clive Kinross , Chief Executive Officer . Mr. Kinross continued , " We have now been in operation for 10 years , and I have never been more confident about our future growth prospects . We have established bank partnerships , diversified funding sources , reliable credit decisioning from our proprietary underwriting model , new product and service offerings and greenfield markets to penetrate . I believe that we have laid the groundwork for continued long - term growth . " Q3 2021 Financial and Operational Highlights Comparable metrics relative to Q3 2020 • • • • • • Loans and Advances Receivable : increased by 138 % to $ 77.2 million , a record ending balance Total Originations Funded : increased by 120 % to $ 55.8 million in Q3 2021 , a record performance for quarterly originations , and increased by 144 % to $ 136.7 million for year - to - date Q3 2021 Ending Combined Loan and Advance Balances : increased by 150 % to $ 96.8 million in Q3 2021 , a record ending balance Revenue : increased by 99 % to $ 32.7 million in Q3 2021 , and increased by 73 % to $ 88.5 million for year - to - date Q3 2021 , representing record performance for both periods Net Income : decreased by 76 % to $ 0.6 million in Q3 2021 , and increased by 4 % to $ 8.8 million for year - to - date Q3 2021 Adjusted EBITDA : decreased 26 % to $ 5.0 million in Q3 2021 , and increased 42 % to $ 22.7 million for year - to - date Q3 2021 Cost of Debt Capital : decreased average interest rate to 9.2 % , from 11.6 % , in part through retirement of higher cost term loan at the end of Q2 2021 • Product structure additions : rolled out variable pricing and graduation capabilities through our platform , consistent with strategy of providing more competitive products and lower cost of credit to new and existing customers • Geographic expansion : from Q1 to Q3 2021 , facilitated expansion of bank programs into 4 and 3