Slide 1: EQB Inc. Q4 2025 Results
EQB Inc. Q4 2025 Results TSX: EQB December 4, 2025
Slide 2: Caution Regarding Forward-Looking Statements
Caution Regarding Forward-Looking Statements Certain forward-looking statements may be made in this presentation, including statements regarding possible future business, financing, growth objectives. Such forward looking information is presented for the purpose of assisting the holders of EQB Inc.,
Slide 3: Chadwick Westlake, President & Chief Executive Officer
Chadwick Westlake President & Chief Executive Officer
Slide 4: FY25 Overview
FY25 Overview1 Diluted EPS Net Income PPPT Efficiency Adjusted $8.90 Adjusted $354.0MM Adjusted $617.5MM Adjusted 50.9% Reported $6.65 Reported $266.6MM Reported $508.9MM Reported 59.7% Y/Y (19%)1/(34%) Y/Y (19%)1/(34%) Y/Y (11%)1/(23%) Y/Y +570bps1/+1,240bps Credit2 ROE BVPS CET1 Impaired 20bps Adj
Slide 5: Q4/25 Key Messages
Q4/25 Key Messages 1. Fueled by our people, powered by growth Accelerating growth through people, innovation and market leadership 2. Strengthening fundamentals to reduce pressure points Balancing the need to deliver the best value to customers, while strengthening profitability for shareholders 3.
Slide 6: Key Priorities for FY26
Key Priorities for FY26 Expand capabilities Complete the Reignite the core and “Challenge” product shelf the market Strengthen and reinvigorate Execute expansion and Leverage digital-native platform to growth in our core businesses, diversification strategies to deliver drive best-in-class efficienc
Slide 7: Medium-Term Financial Objectives reaffirmed
Medium-Term Financial Objectives1 reaffirmed Medium-term Financial Objectives1 Return on Equity (ROE) 15% - 17% Diluted EPS Growth Rate 12% - 15% Operating Leverage Flat to Slightly Positive CET1 Capital Ratio Strong Dividend Growth Rate ~15% 1. We have established medium-term financial objectives f
Slide 8: Anilisa Sainani, SVP & Chief Financial Officer
Anilisa Sainani SVP & Chief Financial Officer
Slide 9: FY25 Financial Highlights
FY25 Financial Highlights Adjusted1 Reported HIGHLIGHTS In $MM, except for per share amounts 2025 Y/Y 2025 Y/Y Revenue 1,256.8 (1%) 1,261.8 1% • Diluted EPS down 19% Higher expenses and PCLs • Revenues down 1% NIX 639.3 12% 752.9 27% • Net interest income down 1% PPPT 617.5 (11%) 508.9 (23%) • Non-i
Slide 10: Q4/25 Financial Highlights
Q4/25 Financial Highlights Adjusted1 Reported HIGHLIGHTS In $MM, except for (Y/Y, UNLESS OTHERWISE NOTED) per share amounts Q4/25 Q/Q Y/Y Q4/25 Q/Q Y/Y Revenue 308.0 (1%) (4%) 317.0 4% 1% • Diluted EPS down 39% Lower revenues, expense NIX 165.1 (0%) 11% 261.5 53% 70% growth and higher PCLs • Revenue
Slide 11: Restructuring – Driving growth & efficiency into FY26
Restructuring – Driving growth & efficiency into FY26 • Streamlining focus to top growth priorities & efficient capital allocation, and managing third party spend Scope • Impairment of intangible assets and equipment financing goodwill • Reduction of 8% of total FTE with no impact to risk management
Slide 12: Balance Sheet – Solid growth in LUM & deposits
Balance Sheet – Solid growth in LUM & deposits Loans Under Management ($B) HIGHLIGHTS +10% +1% • +1% Q/Q: Growth in insured multi-unit residential 73.8 74.5 Y/Y 67.9 69.3 71.5 (derecognized) partly offset by lower personal and 14.8 14.9 14.5 -2% commercial loans 14.8 14.1 24.3 26.7 28.3 • +10% Y/Y:
Slide 13: Net Interest Income (NII) – Sequential margin expansion
Net Interest Income (NII) – Sequential margin expansion Adjusted NII and NIM ($MM | %)1,2 HIGHLIGHTS 2.22% 2.17% • +1% Q/Q: NII growth primarily driven by 2.09% 2.10% higher NIMs as earning assets were down 1.97% 2.01% modestly 1.94% • -2% Y/Y: Lower NII driven by lower NIMs, -2% +1% partly offset b
Slide 14: Non-Interest Revenue (NIR) – Loss on hedging and normalized gains on sale
Non-Interest Revenue (NIR) – Loss on hedging and normalized gains on sale Adjusted1,2 NIR ($MM) HIGHLIGHTS • -9% Q/Q: Net losses on hedging and derivatives vs. -15% -9% gains L/Q, lower gains on sale and fees and other 51.0 52.0 income, partly offset by higher gains on strategic & 2.0 2.3 47.6 Y/Y o
Slide 15: Non-Interest Expenses (NIX) – Cost discipline showing in Q4
Non-Interest Expenses (NIX) – Cost discipline showing in Q4 Efficiency Ratio (%)1 HIGHLIGHTS Adjusted Efficiency Ratio Reported Efficiency Ratio 82.5 • Flat Q/Q: Lower staffing costs, offset by small 55.8 increases in other areas 51.0 • +11% Y/Y: Increased staffing, technology and 49.4 53.4 53.6 49.
Slide 16: Capital – Remains strong
Capital – Remains strong CET1 (%) HIGHLIGHTS • Flat Q/Q: Internal capital generation, offset by the negative impact of RWA growth 10bps (10bps) • NCIB continues to be an integral part of EQB’s capital allocation framework 13.3% 13.3% Q3/25 Internal Net RWA Q4/25 capital growth generation • Up 1% Q/Q
Slide 17: Marlene Lenarduzzi, SVP & Chief Risk Officer
Marlene Lenarduzzi SVP & Chief Risk Officer
Slide 18: Allowance for Credit Losses – Building ACLs
Allowance for Credit Losses – Building ACLs Allowance for Credit Losses on Portfolio Loan Assets1 (PLA) ($MM) PLA: $47,358 PLA: $46,440 Net ACL2 % of PLA: 0.33% Net ACL2 % of PLA: 0.41% 18.7 206.8 35.1 0.2 1.0 13.3 170.4 5.5 PCL on Performing Loans of ($19.8MM) Q3/25 Credit Macroeconomic Portfolio P
Slide 19: PCL on Impaired Loans – Increases across all portfolios
PCL on Impaired Loans – Increases across all portfolios Consolidated ($MM | bps)1 Personal ($MM | bps) HIGHLIGHTS 31 30 16 • Consolidated: increases 20 19 12 12 across all portfolios 23 7 9 3 4 12.5 35.1 9.6 • Personal: up 2.9MM Q/Q 26.9 23.2 22.9 driven by declines in property 5.8 10.1 3.6 valuatio
Slide 20: Gross Impaired Loans – Increases in commercial & personal
Gross Impaired Loans – Increases in commercial & pers. Gross Impaired Loans (GIL) ($MM | bps) HIGHLIGHTS • Total GIL increased by $56MM (16 bps) Q/Q due to increases in 188 the commercial and personal businesses 164 172 154 • Personal lending (incl. consumer lending): Up $15MM Q/Q mainly 144 driven
Slide 21: Q&A
Q&A Equitable EQ Gos Bank
Slide 22: Appendix
Appendix Equitable EQ Gos Bank
Slide 23: Personal and Commercial Banking – Loans Under Mgmt.
Personal and Commercial Banking – Loans Under Mgmt. Loans Under Management (LUM) by Business ($B) Personal Banking Commercial Banking +20% +3% -2% -2% 32.2 32.2 32.5 32.2 42.8 31.7 41.6 1.1 2.1 2.3 2.5 2.7 39.0 1.2 1.1 0.9 0.8 2.9 37.0 1.1 1.6 0.8 0.8 1.1 1.6 1.9 0.8 35.7 1.1 1.8 1.1 1.5 1.2 1.1 1.8
Slide 24: Delinquent loans past due for 30 – 89 days
Delinquent loans past due for 30 – 89 days Consolidated ($MM | bps) Personal ($MM | bps) 30-59 days 60-89 days 30-59 days 60-89 days 0.89% 0.90% 0.64% 0.63% 0.66% 0.80% 0.79% 0.56% 0.77% 0.72% 292 420 258 257 244 234 297 300 312 262 218 157 329 171 182 189 172 196 231 194 91 101 111 74 87 100 62 62
Slide 25: Personal Portfolio
Personal Portfolio Personal Portfolio by Region ($B)1 SFR Mortgage Portfolio stats1 Insured Uninsured 4.7 (17%) Mortgage balance $7.1 billion $20.8 billion 2.4 Alberta, Manitoba & Saskatchewan $27.9 (9%) Atlantic provinces & Quebec LTV at origination 81% 68% 16.7 billion British Columbia and Territo
Slide 26: Commercial Portfolio
Commercial Portfolio Portfolio by Region ($B) Equipment Financing • Reduced exposure to long-haul transportation, representing 2.4 30% of the portfolio vs. 39% the prior year (17%) Alberta, Manitoba & Saskatchewan • Implemented a series of credit tightening changes to improve 6.5 quality of the port
Slide 27: Reconciliation from GAAP to Adjusted Results
Reconciliation from GAAP to Adjusted Results Reconciliation of reported and adjusted financial results For the three months ended For the year ended ($000, except share and per share amounts) 31-Oct-25 31-Jul-25 31-Oct-24 31-Oct-25 31-Oct-24 Reported results Net interest income(1) 286,427 258,483 26
Slide 28: Macroeconomic variables used to estimate ECL on performing loans
Macroeconomic variables used to estimate ECL on performing loans October 31, 2025 Base-Case Upside Scenario Downside Scenarios Stronger Near-Term Slower Near-Term Scenario Moderate Recession Protracted Slump Growth Growth Next 12 2 to 5 Next 12 2 to 5 Next 12 2 to 5 Next 12 2 to 5 Next 12 2 to 5 mon
Slide 29: Lemar Persaud, Maggie Hall
Lemar Persaud Maggie Hall VP & Head Investor Relations Director, PR & Communications eqb.investorroom.com eqb.investorroom.com investor_enquiry@eqb.com 29