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RF CAPITAL GROUP Richardson Wealth ¹ : Highest Quarterly AUA Ever ● $ 34.4 billion ; up $ 5.0 billion from Q3 2020 ● 93 % of advisors have increased their AUA in 2021 Record Quarterly Fee - Income ● ● Highest - Ever AUA and Fee - Based Revenue Fuels Third Quarter 2021 Results Adjusted EBITDA² ● $ 14.0 million ; up 18 % from Q3 2020 Improving Adjusted EBITDA Margin² 18.1 % compared with 17.6 % last year Strongest Recruiting Pipeline Ever $ 15 billion³ of AUA ● $ 62.0 million , up $ 9 million from Q3 2020 Recurring fee - based income represents 90 % of total commissionable revenue ● Five advisors joined in Q3 with AUA in excess of $ 1 billion EARNINGS RELEASE Game - Changing Strategic Agreement with Fidelity ● Accretive to shareholders ; estimated EBITDA benefit of just under $ 10 million² in the first year after expected September 2022 transition ● Transforms our cost base to be largely variable , and reduces the level of future capital investment by leveraging Fidelity's global scale , world - class cloud - based advisor technology platform , expertise , and ongoing technological innovation Fidelity currently manages $ 14 trillion in AUM globally and with our $ 34 billion of AUA will have $ 63 billion under custody in Canada Secured $ 200 million Revolving Credit Facility Substantial capacity to invest in organic growth , recruiting and other strategic initiatives Launched Richardson Wealth Masterclass Comprehensive practice management and training program to enhance advisor and client experience Toronto , November 5 , 2021 - RF Capital Group Inc. ( RF Capital or the Company ) ( TSX : RCG ) today reported quarterly revenue of $ 79.7 million , record quarterly assets under administration ( AUA ) of $ 34.4 billion and adjusted consolidated EBITDA² of $ 13.0 million for the third quarter ended September 30 , 2021. Adjusted EBITDA² in our Wealth Management Segment was $ 14.8 million in Q3 2021 ( including $ 14.0 million at Richardson Wealth ) . " In less than six months since we announced our strategy at our AGM , we have delivered on many of our promises and posted record results while doing so . This quarter was no different . We announced a transaction with Fidelity that will enhance our advisor and client experience by providing them access to a world class digital and custodial platform and it will also result in just under $ 10 million in operating synergies in the first year following adoption of their platform . We also secured a $ 200 million credit facility to accelerate our growth and invest in our platform , and we reported highest ever AUA of $ 34.4 billion and recruiting pipeline of ¹ Richardson Wealth's operating results pre - October 20 , 2020 are for reference purposes and were not fully consolidated into RF Capital's financial statements 2 Considered to be a non - GAAP financial measure . Such measures do not have any standardized meaning prescribed by GAAP under IFRS and are therefore unlikely to be comparable to similar measures presented by other issuers . For further information please read the " Presentation of Financial Information and Non - GAAP Measures " at the end of this press release . 3 Represents conversations with advisors that have advanced beyond a certain probability threshold , and is a measure that management uses to assess outside advisors ' interest in our business . We expect to convert only a portion of this pipeline . 1