Slide 1: Q4 2025 Conference Call
Q4 2025 Conference Call December 10, 2025 NASDAQ: VBNK | TSX: VBNK
Slide 2: Dial-In to Ask Questions
Dial-In to Ask Questions For those wishing to ask questions during the Q&A, please access today’s call through the telephone dial-in: Toll-free: 1-888-699-1199 (Canada/US) Local: 416-945-7677
Slide 3: Advisory
Advisory The Bank occasionally makes forward-looking statements about its objectives, operations and targeted financial results. These statements may be written or verbal and may be included in such things as press releases, corporate presentations, annual reports and other disclosure documents and
Slide 4: David Taylor, President
David Taylor President
Slide 5: Q4 2025 Financial Highlights
Q4 2025 Financial Highlights 5 Total Assets $5.81 B • Record credit assets, up 20% YoY & 6% sequentially Credit Assets $5.07 B • Record revenue NIM on Credit Assets 2.65% • NIM on Credit Assets grew 31 bps year-over-year Total Revenue $35.1 M • 91% YoY increase in adjusted net income Adjusted Net In
Slide 6: Increasing Momentum in Receivable Purchase Program
Increasing Momentum in Receivable Purchase Program • Q4: Completed US$200 M in US RPP fundings • Added 4 new partners since start of Q4 • Added largest US partner to date: ECN Capital (via subsidiary Source One) • Completed initial funding of $61 M • Subsequently completed fundings to bring total fu
Slide 7: Enhanced CMHC Program to Generate Incremental Income
Enhanced CMHC Program to Generate Incremental Income • Existing high-ROE CMHC program nearing $1 B in commitments • Subsequent to quarter end, initiated Enhanced CMHC Program • Utilizing allocated capacity under the Canadian Mortgage Bond (CMB) Program to invest in CMHC-insured multi-unit residentia
Slide 8: John Asma, Chief Financial Officer
John Asma Chief Financial Officer
Slide 9: Q4 2025: Continued Strong Financial Performance
Q4 2025: Continued Strong Financial Performance Balance Sheet • Total credit asset portfolio At October 31 expanded to another record 2025 2024 YoY Change balance Total Assets $5.81 B $4.84B 20% Credit Asset Portfolio $5.07 B $4.24 B 20% • Book value per share increased Cash and Securities $0.66 B $
Slide 10: Q4 2025: Continued Strong Financial Performance Consolidated
Q4 2025: Continued Strong Financial Performance Consolidated Consolidated Income Statement • YoY and sequential revenue increase Quarter Ended October 31 due primarily to growth in assets • EPS impacted by 25% higher number YoY Sequential (000’s) 2025 2024 Change Change of weighted-average shares ou
Slide 11: Q4 2025: Segmented Income Statement
Q4 2025: Segmented Income Statement Segmented Income Statement Revenue Net Income Quarter Ended Quarter Ended October 31 October 31 YoY Sequential YoY Sequential (000’s) 2025 2024 (000’s) 2025 2024 Change Change Change Change Revenue 35,092 27,285 29% 11% Net Income 5,204 5,516 -6% -21% Digital Bank
Slide 12: Digital Banking Operations - Record Credit Asset: $5.05 B
Q4 2025: Continued Strong Financial Performance Digital Banking Operations - Record Credit Asset: $5.05 B Q3 2025 Q4 2025 Total: $4.78 B Total: $5.05 B Receivable Purchase Receivable Purchase Program Program $3.7B $4.0B 78% 80% $1.0B $1.0B 22% 20% Multi-Family Multi-Family Residential Residential Lo
Slide 13: Digital Banking Operations
Q4 2025: Continued Strong Financial Performance Digital Banking Operations Digital Banking Operations: Income Statement Quarter Ended July 31 • YoY increase in NIE reflects build out of US RPP business ahead of revenue Sequential 2025 2024 YoY Change Change • NIE included $4.3 million related to cos
Slide 14: Continued de minimis Credit Losses
Continued de minimis Credit Losses Average Provision for Credit Losses as a % of Average Credit Assets 0.12% 0.03% PCL as a % of Average (Trailing 12-Quarters) 0.09% Credit Assets 0.08% 0.06% 0.02% 0.02% 0.02% (0.01%) (0.01%) (0.02%) (0.02%) (0.02%) 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Slide 15: David Taylor, President
David Taylor President
Slide 16: Momentum Moving into F2026
Momentum Moving into F2026 Net Interest Expense • Expected to be relatively flat to this year, with some opportunities for YoY cost savings Revenue • Multiple drivers of credit asset growth • Canada RPP growth steady • US RPP growth accelerating • F2026 target: +US$1 billion – Significantly greater
Slide 17: Real Bank Deposit Tokens
Real Bank A Superior, Bank-Issued Alternative to Stablecoins Deposit Tokens • Highly encrypted digital assets that represent actual 1:1 deposits with the Bank – seamless conversion to/from other (RBDTs ) digital currencies • Legally entitled to bear interest and expected to be eligible for conventio
Slide 18: Q&A Session
Q&A Session Toll-free: 1-888-699-1199 (Canada/US) Local: 416-945-7677 18
Slide 19: Banking on the Future!
WY VersaBank Banking on the F at