Everyday People Financial Announces Strong Fourth Quarter and Year-End Financial Results for the 12 Months Ended December 31, 2023

• Revenue of $9.7 million for the three months ended December 31, 2023, up 103% as compared to $4.8 million for the same period in 2022.
• Revenue of $37.9 million for the year-ended December 31, 2023, up $18.9 million or up 100%, as compared to $19.0 million for the same 12-month period ending December 31, 2022.
• Net loss before tax of $0.3 million for the three months ended December 31, 2023, a significant improvement from the net loss before tax of $26.3 million recorded for the same period in 2022.
• Net loss before tax of $2.5 million for the 12 months ended December 31, 2023, a significant improvement from the net loss before tax of $42.0 million recorded for the 12 months period ending December 31, 2022.
• The Company achieved positive Adjusted EBITDA of $3.1 million, for the three months ended December 31, 2023, compared to an Adjusted EBITDA loss of $1.0 million for the same period in 2022.
• The Company achieved positive Adjusted EBITDA of $5.7 million, for the twelve months ended December 31, 2023, compared to an Adjusted EBITDA loss of $2.0 million for the 12 months period ended December 31, 2022.
• Positive Adjusted EBTDA for the three and twelve months ended December 31, 2023, of $2.5 million, and $3.3 million, respectively.

Edmonton, Alberta--(Newsfile Corp. - May 3, 2024) - Everyday People Financial Corp. (TSXV: EPF) (OTCQB: EPFCF) ("Everyday People" or the "Company"), a Canadian-based revenue cycle management consolidator and financial service provider, is pleased to announce its consolidated annual financial and operational results for the year ended December 31, 2023, and the 12- and 15-months year ended December 31, 2022. This news release should be read in conjunction with Everyday People's consolidated financial statements and "Management's Discussion and Analysis" report for the year-ended December 31, 2023, which have been posted under the Company's profile on SEDAR+ at www.sedarplus.ca.

"2023 has been a remarkable year for Everyday People. The successful completion of two strategic acquisitions significantly propelled our position as a leader in revenue cycle management ("RCM"). The acquisitions of Groupe Solution Collect Solu Inc. ("Groupe Solution"), and Arvato Financial Solutions Limited ("EPFS") substantially enhanced our revenue and validated our strategic realignment in 2023." said Gordon Reykdal, Executive Chairman of Everyday People. "With solid fourth quarter results and momentum across our business lines, we anticipate a strong first quarter in 2024, dedicated to increasing shareholder value and providing clients with the highest quality of service."

Key Financial Highlights for the Three Months Ended December 31, 2023

• Revenue of $9.7 million for the three months ended December 31, 2023, up 102% compared to $4.8 million for the same period in 2022.
• Positive Adjusted EBITDA of $3.1 million for the three months ended December 31, 2023, as compared to adjusted EBITDA loss of $1.0 million for the same period in 2022. Refer to "Reconciliation of Non-IFRS Financial Measures" disclosed in the Company's "Management's Discussion and Analysis" report.
• Net loss before tax of $0.3 million for the three months ended December 31, 2023, a significant improvement from the net loss before tax of $26.3 million recorded for the same period in 2022. The increase of $26.0 million in net profit before tax is attributed to a 99% increase in revenue, primarily driven by successful acquisitions in 2023, and a reduction in recorded non-cash impairment losses.

Key Financial Highlights for the Twelve Months Ended December 31, 2023

• Revenue of $37.9 million for the 12 months ended December 31, 2023, up 99% compared to $19.0 million for the 12 months period ending December 31, 2022.
• Positive Adjusted EBITDA of $5.7 million1 for the 12 months ended December 31, 2023, as compared to Adjusted EBITDA loss of $2.0 million for the 12 months period ended December 31, 2022. Refer to "Reconciliation of Non-IFRS Financial Measures" disclosed in the Company's "Management's Discussion and Analysis" report.
• Net loss before tax of $2.5 million for the 12 months ended December 31, 2023, a significant improvement from the net loss before tax of $42.0 million recorded for the 12 months period ending December 31, 2022.

1Adjusted EBITDA

The Company is pleased to announce the appointment and promotion effective immediately of:

• Dil Boparai, CPA, from Vice President of Finance to Chief Financial Officer ("CFO") of the Company effective immediately upon Mayank Mahajan's resignation.
• Tyler Hatch, from Vice President of EP Homes to Chief Operating Officer ("COO") of the Company's EP Financial Services and EP Homes Division.
• Raj Jassar, CPA, MBA, from Vice President Strategy to Chief Strategy Officer ("CSO") of the Company to oversee the EP Financial Services Division.
• Barry Brotherson, from Compliance Director at BPO Collections Ltd. to Chief Compliance Officer ("CCO") of the Company.
• Allan Scullion, from Chief Technology Officer at BPO Collections Ltd. to Chief Technology Officer ("CTO") of the Company.

Everyday People at a Glance

Everyday People is founded on the belief that everyone deserves a second chance to financially reestablish themselves with access to affordable credit products. We are changing the way people manage money by enhancing our client services with our own affordable and specialized financial products and literacy programs. We're helping everyday people rebuild their financial health for generational wealth. The Company has over 500 employees with operations first established in 2006 in the United Kingdom, Canada, and the United States of America. The company includes three main pillars of business: one pillar, Revenue Cycle Management ("RCM") operates under our Co-CEO, Graham Rankin, and two pillars, EP Financial Services and EP Homes operates under our Co-CEO, Barret Reykdal. The company generated revenues of over $38 million in the 2023 financial year. We stand for creativity and entrepreneurship. Our combination of companies, products and services has been established to ensure we can fulfill consumers' financial needs and service them in a low-cost and effective manner.

Revenue Cycle Management

Headquartered in Ayrshire and Glasgow Scotland, with offices in Montreal, Toronto, Edmonton, and Vancouver Canada and operates under the companies, BPO Collections, Everyday People Financial Solutions (formerly Arvato), General Credit Services and Groupe Solution. The combined businesses have been operating for more than 75 years on behalf of blue-chip clients across the United Kingdom and Canada in both public and private sectors. We are founded on the belief that everyone deserves a second chance to financially reestablish themselves in an affordable way. We are changing the way revenue cycle management agencies work by enhancing our client services with affordable financial products and literacy programs while achieving optimal receivables management for our clients.

In 2008, we began the process of requiring our United Kingdom RCM customers to complete a vulnerability and affordability assessment which ensures that longer payment plans are established to fit within the customer's cash flow and other financial commitments. This resulted in long-term, solid relationships with our customers which have successfully benefited both our clients and the RCM customers. Our intentions are to establish the same operating practices in Canada in 2024. We are proud to lead the industry with our innovative and leading-edge technologies that provide effortless and seamless processes, ensuring we put our customers at the heart of our business.

EP Financial Services

Headquartered in Edmonton, Alberta Canada and Miami, Florida USA, EP Financial operates four companies. EP Cards, a credit facilitator, and payment card program manager helping businesses manage bespoke payment card programs, credit reporting, card networks and issuing banks as well as offering our own card programs. EP Pay Later that partners with merchants and credit industry affiliates to provide affordable buy now, pay later payment plans that are backed by our robust RCM centres. EP Supply Chain Solutions turns supply chains into high-performance value chains allowing for better cash flow and profitability, enhancing deliverables to their customers. Lastly, Smart Everyday People, a partnership with SEB Administrative Services Inc., an Insurtech and services and a wholly owned subsidiary of Cooperators Insurance. Together, we're leading the mission to help everyday people eliminate out-of-pocket health expenses through the Everyday HSA, an efficient and affordable health spending account procurement card that we believe can significantly contribute to the betterment of healthcare ecosystems across the globe.

EP Homes

Headquartered in Edmonton, Alberta Canada we are proudly making the opportunity for homeownership an achievable goal for people of all walks of life. We partner with homebuilders, mortgage brokers, lenders, land developers, realtors, financiers, and government agencies to help everyday people find their path to homeownership through our credit and homeownership facilitation programs that we tailor to meet the needs of each of our clients, and partners. The Bridge to Homeownership Program gives qualified homebuyers the best possible opportunity to acquire a home in a community they love and in a financially responsible way. Through a structured three-year lease and down payment accumulation plan, the Program addresses the key barriers to achieving homeownership, and helps our partners expand their market reach to grow a larger community of homebuyers.

Non-IFRS Financial Measures

This news release makes reference to certain non-IFRS financial measures, including Pro-forma revenue, Adjusted EBITDA, and Pro-forma net income (loss).

"Pro-forma Revenue" in respect of a period means revenue for that period plus the Company's estimate of the additional revenue that it would have recorded if it had acquired each of the businesses on the first day of that period, calculated in accordance with the methodology described in the reconciliation table in "Reconciliation of Non-IFRS Measures". Given the Company's acquisition strategy, Pro-forma Revenue is more reflective of our expected run-rate. The Company considers the entity year end and respective quarter based on pre-acquisition year end of the acquired company to calculate Pro-forma revenue. The most comparable IFRS measure to Pro-forma revenue is revenue, for which a reconciliation is provided in "Reconciliation of Non-IFRS Financial Measures" disclosed in the Company's "Management's Discussion and Analysis" report.

"Adjusted EBITDA" is not a recognized measure under IFRS and does not have a standardized meaning prescribed by IFRS and is therefore unlikely to be comparable to similar measures presented by other companies. "EBITDA" means earnings before finance and interest costs, provision for income tax and amortization and depreciation expenses. "Adjusted EBITDA" is calculated as adding back the share-based compensation, depreciation and amortization expenses, impairment losses, and other expenses management considers not directly related to operational performance of the period presented.

"Pro-forma net income (loss)" in respect of a period means net income (loss) for that period plus the Company's estimate of the additional revenue that it would have recorded if it had acquired each of the businesses on the first day of that period, calculated in accordance with the methodology described in the reconciliation table in "Reconciliation of Non-IFRS Measures". Given the Company's acquisition strategy, Pro-forma net loss (income) is more reflective of the expected run-rate. The Company considers the entity year end and respective quarter based on pre-acquisition year end of the acquired company to calculate Pro-forma net income (loss). The most comparable IFRS measure to Pro-forma net income (loss) is net income (loss), for which a reconciliation is provided in "Reconciliation of Non-IFRS Financial Measures" disclosed in the Company's "Management's Discussion and Analysis" report.

Pro-forma revenue, Adjusted EBITDA, and Pro-forma net income (loss) are used as non-IFRS financial measures to provide investors with a supplemental measure of the Company's operating performance and thus highlight trends in its core business that may not otherwise be apparent when relying solely on IFRS financial measures. The Company believes that securities analysts, investors, and other interested parties frequently use non-IFRS financial measures in the evaluation of issuers. The Company's management also uses non-IFRS financial measures to facilitate operating performance comparisons from period to period, prepare annual operating budgets and assess the Company's ability to meet its capital expenditure and working capital requirements.

Non-IFRS financial measures have limitations as analytical tools and should not be considered in isolation or as a substitute for an analysis of the Company's results under IFRS. There are a number of limitations related to the use of non-IFRS financial measures versus their nearest IFRS equivalents. Investors are encouraged to review the consolidated financial statements as at and for the year ended December 31, 2023 and for the 15 months ended December 31, 2022, and disclosures in their entirety and are cautioned not to put undue reliance on any non-IFRS financial measure and view it in conjunction with the most comparable IFRS financial measures. In evaluating these non-IFRS financial measures, please be aware that in the future the Company will continue to have the adjustment similar to those adjusted in the presented period.

For more information visit: www.everydaypeoplefinancial.com.

Everyday People Financial Corp. Contacts

Gordon Reykdal
Executive Chairman of Everyday People Financial Corp.
letsconnect@epfinancial.ca
1 888 825 9808

Cautionary Note Regarding Forward-Looking Statements

This news release includes certain "forward-looking statements" or "forward-looking information" (collectively referred to hereafter as "forward-looking statements") under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to financial performance, results of operations, integration of the acquired businesses, statements with respect to the structure and terms of acquisitions, timing for completion of the acquisitions, the ability of the parties to satisfy the conditions of the acquisition in the required timeframes or at all, the ability of the Company to complete acquisitions on the terms announced or at all, and the business, and the business, plans, strategy and operations of the Company. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to, the timely receipt of all required third party and regulatory approvals, including the acceptance of the TSX Venture Exchange, the inability to satisfy the conditions required to complete acquisitions, termination of purchase agreements, expectations and assumptions concerning the Company, and the acquired businesses as well as other risks and uncertainties, including those described in the documents filed by the Company on SEDAR+ at www.sedarplus.ca. 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. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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