Propel Holdings, Inc. · TSX:PRL
Propel — Investor Presentation (March 2026)
33 slides from Propel's investor presentation, March 2026
Slide 1: Investor Presentation
TSX:PRL Investor Presentation March 2026 1
Slide 2: Disclaimer
Disclaimer FORWARD-LOOKING INFORMATION Certain statements made in this presentation may constitute forward-looking information under applicable securities laws. These statements may relate to our 2026 Operating and Financial Targets, our profitable growth prospects, our dividend, our ability to prof
Slide 3: Building a new world of financial opportunity
Building a new world of financial opportunity INVESTOR PRESENTATION Q4 2025 CONFIDENTIAL 3
Slide 4: We Enable Credit to Underserved Consumers
US$2.8+ Billion in Credit Facilitated¹ We Enable Credit to US$590 Million Underserved Consumers LTM Revenue2 Traditional financial institutions rely on credit scores, but that locks out millions of everyday consumers >1,300,000 We are changing that through our proprietary AI-powered Consumers Served
Slide 5: Investment Highlights
Investment Highlights Consumer Fintech Innovative, lending platform AI-powered tech transparent products serving the US, UK platform unlocking and services, and Canadian credit opportunity including 5 bank markets programs Experienced and Profitable, scalable Quarterly dividend of proven team with b
Slide 6: Our Mission
Mission Our Mission Inclusion Evolution Experience Every individual Committed to giving Provide a best-in- deserves access to credit consumers the potential to class consumer experience evolve to better credit products over time CONFIDENTIAL 6 INVESTOR PRESENTATION Q4 2025 CONFIDENTIAL 6
Slide 7: Financial Inclusion for the Underserved Consumer
Financial Inclusion for the Underserved Consumer ~90 Million 37% 49% 46% Estimated size of US, UK US adults are unable UK working population Canadians say they’re + Canada underserved to afford a $400 living paycheque to living paycheque to market1 emergency expense2 paycheque3 paycheque4 Inaccessib
Slide 8: Propel Today
Propel Today Highly profitable, diversified and scalable business with significant growth opportunity 100% online At Scale Profitable Fiscal 2025 US$2.8B+ ~21.0M US$ Fiscal 2024 in originations1 unique applications Revenue $589.8M $449.7M per year2 Net Income $59.5M $46.4M ~1.79M ~74,000 Adj. Net In
Slide 9: Our Products & Services
Our Products & Services INVESTOR PRESENTATION Q4 2025 CONFIDENTIAL 9
Slide 10: Operating Brands, Products and Services
Operating Brands, Products and Services Product/Service Geography Served Loan Amount Range USD $200-$3,500 USD $500-$15,000 CAN $1,000-$15,000 GBP £300 - £1,500 Direct Lender Bank Program Direct Lender Operating Structure Bank Program Direct Lender Lending-as-a-Service Embedded Lending Credit Servic
Slide 11: Propel Bank
Propel Bank* Built for Banks. Powered by Fintech. Expanding Regulatory Capability & Platform Flexibility What It Is How It Fits Why It Matters • Federally regulated US • Integrates alongside bank • Enhances ability to launch bank subsidiary partner programs and new products and enter LaaS new jurisd
Slide 12: Putting Customers First
Putting Customers First Consistently Lowered Cost of Credit Over Time Introduce lower cost of credit products for qualifying customers “It was so simple, easy and quick. Within 24 hours, I got accepted and had access to Graduation Programs a line of credit. Greatly Propel platform offers the capabil
Slide 13: Our Platform
Our Platform INVESTOR PRESENTATION Q4 2025 CONFIDENTIAL 13
Slide 14: Industry-Leading Proprietary Technology
Industry-Leading 90% of applications auto-decisioned1 Proprietary Technology 96% of ad hoc card payments made online1 Three Major Subsystems Open Architecture AI-Powered Acquisition + Integrates easily and securely with: 110+ Person In-House 1 Tech team Underwriting Engine • 50+ marketing partners L
Slide 15: Looking Beyond Traditional Credit Scores
Looking Beyond Traditional Credit Scores Traditional financial institutions rely on credit scores, Employment Data but that locks out millions of everyday consumers Consumer Behaviour Income Verification We use AI to build our own risk score --- and can use Consumer Verification Data up to 5,000 dat
Slide 16: Driving Growth While Managing Risk
Driving Growth While Managing Risk Disciplined Risk Management Supports Continued Loan Growth $700,000,000 20.0% 18.0% $600,000,000 Fund More 16.0% Consumers $500,000,000 14.0% 12.0% $400,000,000 10.0% $300,000,000 Manage Risk 8.0% $200,000,000 6.0% 4.0% $100,000,000 2.0% $- 0.0% Q1 Q2 Q3 Q4 Q1 Q2 Q
Slide 17: Best-in-Class Operations + Customer Service
Best-in-Class Operations + Customer Service 310+ 7 days strong operations team across 3 a week live agent service centralized locations Serving customers with urgency, 24/7 “ Excellent 4.4+ Ratings respect and online platform exceptional customer service The application process was simple and quick.
Slide 18: Financial Performance
Financial Performance INVESTOR PRESENTATION Q4 2025 CONFIDENTIAL 18
Slide 19: Robust Loan and Revenue Growth
Robust Loan and Revenue Growth Loans and Advances Receivable Ending Combined Loan and Advance Revenue Balances* US$M US$M US$M $459.8 $589.5 $589.8 $375.2 $480.6 $449.7 $259.3 $337.3 $316.5 $195.6 $247.5 $226.9 $103.8 $134.8 $155.8 $129.6 $129.3 2021 2022 2023 2024 2025 2021 2022 2023 2024 2025 2021
Slide 20: Stability and Scalability of Business Model
Stability and Scalability of Business Model Provision for loan losses and other liabilities (“Provision”) and Net Charge-offs Q4 2025 Provision % Revenue and Net Charge-offs as % as % of Average CLAB* of Avg. CLAB* reflect growth timing dynamics 60% 55% • Higher provisioning driven by strong Decembe
Slide 21: Generating Strong Profitability
Generating Strong Profitability Net Income Adjusted Net Income* Adjusted EBITDA* US$M US$M US$M $59.5 $66.7 $62.3 $121.3 $130.3 $46.4 $75.7 $35.6 $27.8 $20.5 $40.9 $15.1 $16.9 $31.9 $11.6 $13.1 $25.7 $21.6 $6.6 $5.9 $8.0 2021 2022 2023 2024 2025 Q4 2024 Q4 2025 2021 2022 2023 2024 2025 Q4 2024 Q4 20
Slide 22: Focus on Maximizing Shareholder Returns
Focus on Maximizing Shareholder Returns Return on Equity Adjusted Return on Equity* Consistent earnings growth supports strong ROE and Adj. ROE* and 36% 48% 48% dividend growth 30% 27% 40% 24% 24% 39% • Company’s operating cash flow and debt 19% 26% 27% capacity sufficient to drive significant growt
Slide 23: Well Capitalized For Continued Growth
Well Capitalized For Continued Growth • Company well-funded for • Propel’s total debt capacity of Credit Capacity (in US$M) continued growth, recently $434 million launched initiatives, new business development and to • Cost of debt capital support dividend growth decreased to 10.6% in Q4 $102.9M 20
Slide 24: Growth Outlook: FY2026 Operating and Financial Targets
Growth Outlook: FY2026 Operating and Financial Targets Ending Revenue (US$) Adjusted EBITDA Net Income Adjusted Net Return on Adjusted Combined (US$)** (US$) Income Equity*** ROE** Loan and (US$)** Advance Balances*, ** 18% - $725M - $152.5M - $70M - $80M - 24%+ 28%+ 24% $775M $177.5M $90M $100M 202
Slide 25: Growth Strategy
Growth Strategy Serving lower risk Graduating Geographic Adjacent products markets consumers up the expansion credit spectrum Extension of existing Continue to graduate Expansion into Design, deliver and product suite into near- existing clients to new new states/provinces, cross-sell prime market a
Slide 26: Customer testimonial
The immediate response and service were great. During an emergency time of need it was a great relief for fast response. The online application was appreciated and easy. Thank you. INVESTOR PRESENTATION Q4 2025 CONFIDENTIAL 26
Slide 27: Welcome to a new world of financial opportunity
Over a million loans facilitated. Over two billion dollars in lending. Welcome to a new world of financial opportunity. INVESTOR PRESENTATION Q4 2025 CONFIDENTIAL 27
Slide 28: Appendix
Appendix INVESTOR PRESENTATION Q4 2025 CONFIDENTIAL 28
Slide 29: Non-IFRS Measure Reconciliation
Non-IFRS Measure Reconciliation Three Months Ended Dec 31, Year Ended December 31, US$ 2025 2024 2025 2024 2023 2022 2021 Net income 5,937,060 11,609,178 59,520,380 46,375,867 27,776,133 15,127,447 6,562,442 Interest on Debt 8,639,271 8,514,528 34,041,984 31,585,290 22,473,216 9,784,859 5,317,923 In
Slide 30: Non-IFRS Measure Reconciliation
Non-IFRS Measure Reconciliation Three Months Ended Dec 31, Year Ended December 31, US$ 2025 2024 2025 2024 2023 2022 2021 Net income 5,937,060 11,609,178 59,520,380 46,375,867 27,776,133 15,127,447 6,562,442 Transaction and Financing Costs net of taxes1 - 515,829 - 2,367,912 - - 1,212,643 Unrealized
Slide 31: Non-IFRS Measure Reconciliation
Non-IFRS Measure Reconciliation As at December 31, US$ 2025 2024 2023 2022 2021 Ending Combined Loan and Advance balances1 589,548,106 480,602,408 337,282,804 247,488,344 134,843,170 Less: Loan and Advance balances owned by third party lenders pursuant to CSO program (3,087,349) (5,892,783) (3,779,0
Slide 32: Non-IFRS Measure Reconciliation
Non-IFRS Measure Reconciliation Three Months Ended Dec 31, Year Ended December 31, US$ 2025 2024 2025 2024 2023 2022 2021 Charge-offs 94,939,768 65,701,681 303,761,358 208,306,980 148,955,126 109,981,529 46,898,488 Recoveries (11,985,528) (7,499,719) (39,486,381) (25,705,212) (19,231,240) (16,675,40
Slide 33: Building a new world of financial opportunity.
Building a new world of financial opportunity. INVESTOR PRESENTATION Q4 2025 CONFIDENTIAL 33