• Revenue of $9.4 million for the three months ended September 30, 2023, up 92% as compared to $4.9 million for the same period in 2022
• Revenue of $28.2 million for the nine months ended September 30, 2023, up 98% as compared to $14.2 million for the same period in 2022
• Positive Adjusted EBITDA, net of finance costs for the three and nine months ended September 30, 2023

Edmonton, Alberta--(Newsfile Corp. - November 23, 2023) - 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 financial and operational results for the three and nine months ended September 30, 2023. All figures are in Canadian dollars unless otherwise stated.

"We are very pleased with the financial results of our third quarter and that our overall strategy is coming together," said Gordon Reykdal, Executive Chairman of Everyday People. "Adding to our Revenue Cycle Management business segment ("RCM")", this quarter ended with the completion of the acquisition of Arvato Financial Solutions Limited ("AFS"), which was formerly part of the Bertelsmann group of companies."

"The AFS acquisition has evolved into an esteemed partnership of shared values and the common ideals of human centricity. Everyday People has put together a group of meaningful and purposeful companies that are designed to help underserved consumers improve their financial wellbeing. We believe that everyone deserves a second chance to financially reestablish themselves in an affordable way. We are so proud to have ended the quarter with a new partner who shares in our vision to make a meaningful difference in the industry and the communities we serve while generating value and success for all of our EP stakeholders. The Company will change the name of AFS to Everyday People Financial Solutions Limited ("EP Solutions") before December 31, 2023."

Key Financial Highlights for the Three Months Ended September 30, 2023

• Revenue of $9.4 million for the three months ended September 30, 2023, up 92% compared to $4.9 million for the same period in 2022.

• Pro-forma revenue of $11.7 million for the three months ended September 30, 2023, assuming EP Solutions were acquired on January 1, 2023. Refer to the "Reconciliation of Non-IFRS Financial Measures" disclosed in the Company's "Management's Discussion and Analysis" report.

• Adjusted EBITDA of $1.1 million¹ for the three months ended September 30, 2023, compared to adjusted EBITDA (loss) of $0.6 million for the same period in 2022, reflecting a $1.7 million (283%) increase compared to the same period in 2022. Refer to "Reconciliation of Non-IFRS Financial Measures" disclosed in the Company's "Management's Discussion and Analysis" report.

• Positive adjusted EBITDA, net of finance costs of $0.6 million¹ for the three months ended September 30, 2023, compared to adjusted EBITDA (loss) of $1.4 million for the same period in 2022, reflecting a $2.0 million (143%) increase compared to the same period in 2022.

• Net loss before taxes of $0.4 million for the three months ended September 30, 2023, as compared to a net loss before taxes of $10.4 million for the same period in 2022.

• Pro-forma net loss before taxes of $0.3 million for the three months ended September 30, 2023, assuming EP Solutions were acquired on January 1, 2023. Refer to the "Reconciliation of Non-IFRS Financial Measures" disclosed in the Company's "Management's Discussion and Analysis" report.

Key Financial Highlights for the Nine Months Ended September 30, 2023

• Revenue of $28.2 million for the nine months ended September 30, 2023, up 98% compared to $14.2 million for the same period in 2022.

• Pro-forma revenue of $36.7 million for the nine months ended September 30, 2023, EP Solutions were acquired on January 1, 2023. Refer to the "Reconciliation of Non-IFRS Financial Measures" disclosed in the Company's "Management's Discussion and Analysis" report.

• Adjusted EBITDA of $2.6 million¹ for the nine months ended September 30, 2023, compared to adjusted EBITDA loss of $1.1 million for the same period in 2022, reflecting a $3.7 million (336%) increase compared to the same period in 2022. Refer to "Reconciliation of Non-IFRS Financial Measures" disclosed in the Company's "Management's Discussion and Analysis" report.

• Positive adjusted EBITDA, net of finance costs of $0.8 million¹ for the nine months ended September 30, 2023, compared to adjusted EBITDA (loss) of $2.3 million for the same period in 2022, reflecting a $3.1 million (135%) increase compared to the same period in 2022.

• Net loss before taxes of $2.3 million for the nine months ended September 30, 2023, as compared to a net loss before taxes of $15.7 million for the same period in 2022.

• Pro-forma net loss before taxes of $1.8 million for the nine months ended September 30, 2023, assuming EP Solutions were acquired on January 1, 2023. Refer to the "Reconciliation of Non-IFRS Financial Measures" disclosed in the Company's "Management's Discussion and Analysis" report.

Business Highlights

• The Company continues to add accretive acquisitions to its Revenue Cycle Management business segment, leveraging its experience as disciplined operators to drive profitability, with the latest acquisitions as follows:

  • On July 19, 2023, the Company previously announced that it had entered into a share purchase agreement to acquire 100% of the issued and outstanding shares of Pastdue Credit Solutions Limited ("PDC"). This acquisition is currently under further review and evaluation by management.

  • On July 28, 2023, the Company signed a non-binding LOI to acquire 100% of the issued and outstanding shares of Zinc, one of the UK's leading providers of revenue cycle management services.

  • On October 31, 2023, the Company closed an acquisition with AFS, now EP Solutions, which was formerly part of the Bertelsmann group of companies, whereby the Company entered into a share purchase agreement to acquire 100% of the issued and outstanding shares of EP Solutions. EP Solutions is a provider of accounts receivable management services in the UK. EP Solutions UK primarily focuses on providing financial and collection management services.

• On August 22, 2023, the Company appointed Graham Rankin as Co-CEO alongside the Company's CEO Barret Reykdal, with Graham Rankin leading the Company's RCM business line and Barret Reykdal leading the Company's Financial Services business line.

• On October 30, 2023, the Company successfully secured a listing on the OTCQB Venture Market, a trading platform for emerging and growth-stage companies and making it easier for U.S. and international investors to access and invest in the Company. The Company continues to trade on the TSX Venture Exchange.

¹Adjusted EBITDA

Issuance of Restricted Share Units

The Company is pleased to announce that the Board of the Company has granted an aggregate of 120,000 restricted share units ("RSUs") to certain Vice Presidents of the Company pursuant to its omnibus share incentive plan (the "Plan"). The Board of the Company also approved an additional aggregate of 40,000 RSUs to be granted during the last fiscal quarter of 2023 to certain Vice Presidents of the Company, pursuant to the Plan. Each RSU entitles the recipient to receive, once vested, one common share in the capital of Everyday People. The RSUs shall vest one year from the date of grant. The Company's Plan provides for the grant of options ("Options"), RSUs, performance share units ("PSUs" and together with the RSUs, "Share Units") and deferred share units ("DSUs" and together with the Options and Share Units, "Awards"). The Plan includes a "rolling" stock option plan component that sets the maximum number of common shares in the capital of the Company ("Common Shares") reserved for issuance, in the aggregate, pursuant to the exercise of Options granted thereunder, together with the number of Common Shares reserved for issuance pursuant to the settlement of Share Units and DSUs granted under the Plan and the number of Common Shares reserved for issuance pursuant to any other security based compensation arrangement of the Company, at 10% of the number of Common Shares issued and outstanding on a non-diluted basis from time to time. In addition, the Plan sets the maximum number of Common Shares reserved for issuance, in the aggregate, pursuant to the settlement of Share Units and DSUs granted under the Plan at 5,000,000 Common Shares. The Company's Plan was approved by the Company's shareholders at its Annual and Special Meeting held July 28, 2023. On August 14, 2023, the Plan received final acceptance approval from the TSX Venture Exchange.

Financial Statements & Management's Discussion and Analysis

This news release should be read in conjunction with Everyday People's consolidated financial statements and "Management's Discussion and Analysis" report for the three and nine months ended September 30, 2023, which have been posted under the Company's profile on SEDAR+ at .

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 loss on goodwill, other expenses (income) and other non-operating expenses (income) 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 three and nine months ended September 30, 2023 and September 30, 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.

About Everyday People Financial Corp.

Everyday People is a revenue cycle management consolidator founded on the belief that everyone deserves a second chance to reestablish and build credit and have access to affordable credit options. We are headquartered in Edmonton, Alberta Canada with operations in Canada and the UK. We are changing the way revenue cycle management agencies work by enhancing our client services with affordable financial products and literacy programs. Utilizing our own specialized credit facilitation products, we're helping debtors rebuild their financial health and generational wealth.

For more information visit: .

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 the Acquisition, timing for completion of the Acquisition, 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 the Acquisition 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 the Acquisition, termination of the Purchase Agreement, 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 . 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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