Mcan Mortgage Corporation · TSX:MKP
Mcan Mortgage — Q2 2026 Earnings Presentation
21 slides from Mcan Mortgage's earnings presentation, Jul 30, 2026
Slide 1: Q2 2026 Results
Q2 2026 Results TSX: MKP July 30, 2026
Slide 2: Reimagining opportunity to drive growth for Canadian communities
Reimagining opportunity to drive growth for Canadian communities
Slide 3: Forward-Looking Information
Forward-Looking Information This presentation may contain forward-looking information within the meaning of applicable Canadian securities laws, including statements regarding the business and anticipated financial performance of MCAN Mortgage Corporation d/b/a MCAN Financial Group and its subsidiar
Slide 4: Business Overview
Business Overview
Slide 5: Q2 2026 Financial Highlights
Q2 2026 Financial Highlights • Continue to deliver $24.0M Net Income (+4% from Q1 2026; +19% from Q2 2025) improving returns while (PPPT Income1,2 $25.6M) navigating uncertain environment $0.59 Earnings per Share (+4% from Q1 2026; +16% from Q2 2025) • Total assets and AUM (PPPT EPS1,2 $0.63) growth
Slide 6: Impaired Mortgage Loans Steady in Current Uncertain Environment
Impaired Mortgage Loans Steady in Current Uncertain Environment Impaired Mortgage Loans ($M) PCL - Performing Mortgage Loans ($M) $1.5 $1.5 $0.7 1.25% 1.25% 0.99% 0.95% 0.70% $0.3 $47.6 $52.7 $46.4 $39.5 $(0.2) Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 $29.3 PCL - Performing $17.1 $18.1 $13.9 $12.5 $1
Slide 7: Quality Returns to Shareholders
Quality Returns to Shareholders Dividends Total Shareholder Return 3% CAGR1 of 6,691% regular TSR1 since $0.97 dividends inception $0.85 DRIP $0.43 participation $1.64 provides $1.48 $1.56 $1.36 $1.44 enhanced $0.86 returns 2021 2022 2023 2024 2025 YTD 2026 1992 1997 2001 2006 2011 2016 2021 Today R
Slide 8: Recent Awards
Recent Awards MCAN recognized as one of Canada's Best WorkplacesTM in Financial Services and Insurance by Great Places to Work® Canada for 2025 MCAN recognized for 2025 Most Admired Cultures by Waterstone Human Capital MCAN Home, our residential mortgage business, recognized by Canadian Mortgage Pro
Slide 9: Business Model and Value Proposition
Business Model and Value Proposition MCAN provides sustainable growth and returns to shareholders by leveraging our real estate expertise and providing our shareholders with unique access to investments in the Canadian real estate market Federally Regulated Financial Institution since 1991 • Strong
Slide 10: Financial Overview
=> Financial Overview L
Slide 11: Q2 2026 Financial Overview
Q2 2026 Financial Overview In $M, except for %, ratio and per share Q2 2026 Q/Q Y/Y amounts Net interest income $24.6 -4% +4% • Net interest income steady from solid loan Non-interest income $18.7 +17% +35% growth with good pricing Provision for credit losses $1.8 +23% -19% discipline and renewal ac
Slide 12: Net Interest Income Spreads Relatively Stable
Net Interest Income Spreads Relatively Stable Net Interest Income ($M) and Spread1 • NII steady from loan balance $25.6 growth $24.7 $24.6 $23.7 $23.8 • Spreads down slightly Q/Q, primarily due to residential mortgage origination competition and maturing construction loans partially offset by strong
Slide 13: Mortgage Balance Growth Driven by Strong Fundings
Mortgage Balance Growth Driven by Strong Fundings Mortgage Balances ($M) • Mortgage balances slightly higher Q/Q $5,938 $6,054 $6,073 $5,317 and YTD despite tough geopolitical and $5,170 $1,290 $1,343 $1,360 economic environment $1,230 $1,166 $1,349 $1,326 ◦ Total uninsured residential $1,330 $1,301
Slide 14: Well-Established and Growing Funding Base
Well-Established and Growing Funding Base Funding ($B) +18% • Funding base well established $6.0 $5.9 $5.8 and diversified to support business growth $5.2 $5.0 • Securitization and term deposits provide a source of low-cost 46% 46% 39% 38% 36% funding ◦ Growth in our uninsured 7% 5% 7% securitizatio
Slide 15: Well Reserved for Current Mortgage Credit Cycle
Well Reserved for Current Mortgage Credit Cycle Allowance on Performing Mortgage Loans ($M) • Performing (Stage 1 and 2) $1.5 $13.1 ◦ Q/Q increase mainly $11.6 $0.0 driven by loan growth as macroeconomic forecasts showing similar uncertainty as last quarter Allowance Macroeconomic Portfolio Allowanc
Slide 16: Non-Interest Income
Non-Interest Income Non-Interest Income ($M) Q2 2026 Q/Q Y/Y Equity income from MCAP Commercial LP 10,060 27 % 3 % Net gain (loss) on securities 3,032 (8) % 647 % Distribution income from securities 2,445 (13) % 9 % Gain on dilution of investment in MCAP Commercial LP 1,837 n/a n/a Fees 882 (10) % 1
Slide 17: Non-Interest Expense
Non-Interest Expense Non-Interest Expense ($M) Efficiency Ratio1 $17.7 $17.3 $15.1 $14.6 $14.6 $9.6 $9.9 $7.7 $8.2 $8.2 39% 40% 39% 42% 41% $7.7 $7.9 $6.9 $6.9 $6.4 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Salaries and benefits General and administrative Effici
Slide 18: Good Steward Of Our Capital
Good Steward Of Our Capital Key Performance Ratios 14.17% 14.64% • ROE trending within our 39% targeted range; ahead of 13.19% 13.09% prior quarters 10.99% 11.02% • Focus on growing our 35% assets while managing our capital; CET1 Ratio steady despite growth 27% 22% 22% 19% • Capital raising activiti
Slide 19: Closing Comments - Q2 2026 Review
Closing Comments - Q2 2026 Review 1 Higher renewals and solid originations in our residential mortgage lending business 2 Prudent underwriting and appropriate provisioning in existing economic uncertainty 3 Higher contribution to results from our investment in MCAP 4 Capital optimization with assets
Slide 20: Long Term Objectives
Long Term Objectives 1 Sustained 13-15% average ROE 2 Sustained 10% average annual growth in assets 3 Sustained and prudent dividend growth
Slide 21: Derek Sutherland, Santokh Birk - MCAN Financial Group
Derek Sutherland Santokh Birk President and Chief Executive Officer SVP and Chief Financial Officer (416) 203-5931 (289) 454-4196 MCAN Financial Group 700-200 King Street West, Toronto, ON M5H 3T4 (416) 572-4880 | mcanexecutive@mcanfinancial.com mcanfinancial.com | TSX: MKP