Slide 1: Investor Presentation Q1 2026
RFAFINANCIAL RFA FINA NCIA L Investor Presentation Q1 2026 TSX: RFA MAY 13, 2026 I NV ESTO R PRESE NTATI O N | Q 1 2 02 6 R FA F I N A N C I A L PAGE 1
Slide 2: Content Overview
Content Overview Content Overview 01 INTRODUCTION 04 02 EXECUTIVE SUMMARY 05 03 OPERATIONAL OVERVIEW 13 04 FINANCIAL PERFORMANCE 23 05 CLOSING REMARKS 26 MAY 13, 2026 I NV ESTO R PRESE NTATI O N | Q 1 2 02 6 R FA F I N A N C I A L PAGE 2
Slide 3: Forward Looking Statements
F OR WA R D L O O K I N G S T A T E M E N T S Unless otherwise indicated or the context otherwise requires, all references in this presentation to the “Company”, “RFA”, “we”, “our”, “us”, or similar terms refers to RFA Financial Inc., together with its subsidiaries. This presentation contains “forwa
Slide 4: RFA Financial Management
RFA Financial Management RFA Financial Management JOINING US TODAY BEN RODNEY JACLYN KOENIG MELODY LO President & Chief Executive Officer Chief Financial Officer Chief Operating Officer MAY 13, 2026 I NV ESTO R PRESE NTATI O N | Q 1 2 02 6 R FA F I N A N C I A L PAGE 4
Slide 5: Executive Summary
Executive Summary BEN RODNEY President & CEO MAY 13, 2026 I NV ESTO R PRESE NTATI O N | Q 1 2 02 6 R FA F I N A N C I A L PAGE 5
Slide 6: 30 Years of Growth
30 Years of Growth 1996 2019 2026 RFA Capital was Acquired Street Capital Merged with Artis REIT, founded as a Group Inc., strengthening a $2B+ diversified real estate Canadian real estate our position in alternative, investment trust on February 1, 2026, investment & asset commercial, & constructio
Slide 7: Merger Snapshot
Merger Snapshot Merger Snapshot R E D E P L O Y C A P I T A L I N T O H I G HE R - R E T U R NI NG I N V E S T ME N T O P P O R T U N I T I E S . 1 Canadian bank positioned to scale Engine to rotate capital into higher-returning 2 opportunities GRO WING D I V E R S I FI E D R E A L C A NA D I A N B
Slide 8: One-Stop Shop
One-Stop Shop One-Stop Shop A DIVERS IFIED & S CALED FINANCI AL SERV ICES PLATFORM. RF A B ANK R F A M OR T G A G E RF A A SSET OF CANADA CORPORA TION MANAGEMENT A federally regulated A Canadian leader Owner and manager of a high- Schedule I Bank that in prime mortgage origination quality commercial
Slide 9: Value Creation Opportunity
Value ORGANIC GROWTH ▪ A growing Bank-led financial services platform Creation ▪ Opportunity to use asset sale proceeds as a growth engine Opportunity ▪ Fully scaled platform with the capacity to support increases in volume INORGANIC GROWTH ▪ Excess capital anticipated to be redeployed into M&A Stru
Slide 10: Disciplined Capital Allocation Strategy
Disciplined Capital Allocation Strategy R E C Y C L I N G C A P I T A L F R O M A S S E T M O N E T I Z A T I O N S I N T O S C A L A B L E , H I G H E R - R E T U R N O P P O R T UN I T I E S A C R O S S O UR F INAN CI AL SE RV ICES P LAT FOR M. Maintain balance sheet strength and financial flexibi
Slide 11: Medium-Term Targets: 3-5 Year Horizon
Medium-Term CUMULATIVE ASSET SALE S $1. 3 - $1. 5 B ILL ION Targets: TOTAL LEN DI NG ASSETS 3-5 Year $8. 0 - $12 .0 B ILL ION Horizon RFA BANK RETURN ON EQUITY L OW-T O-MID TE E N DOUB LE DIGIT S % RFA BANK NET IN COME CAGR 40% - 50% A future-ready, bank-led financial PAYOUT RATIO TARGET services fi
Slide 12: Sustainable Dividend
Sustainable Dividend DISCIPL INE D CAP ITA L A LLOCAT ION STRA TEGY TO PROVIDE A STA BLE , R ECURRI NG DIVIDE ND. D I V I D E N D Y I E L D ( % ) (1) 5.6% (2) HIGHLIGHTS • Annual dividend is expected to be $1.32 per common share, 4.6% paid quarterly • Dividends are projected to be 3.5% fully covered
Slide 13: Operational Overview
Operational Overview MELODY LO Chief Operating Officer MAY 13, 2026 I NV ESTO R PRESE NTATI O N | Q 1 2 02 6 R FA F I N A N C I A L PAGE 13
Slide 14: What Sets Us Apart
RELATI ON SHIPS T H A T F O S T E R S H A R ED G O A L S & EARN LASTING TRUST PERFOR MANCE What Sets GR OUNDED I N C REDI BIL IT Y, D E L I V E R I N G C ON S I ST E N T R E T U R N S Us Apart PEOPLE T H A T A R E E M P OW E R E D , E X P E R I E NC E D & DEDICATED E X E C U T IO N O F T H E R F A F
Slide 15: Integration
Integration Integration INT E GRA TION RE MA INS ON T R ACK WIT H A CLE AR P AT H T O EN HAN CING SHAR E HOLDE R VAL UE. 01 02 03 S TAB ILI ZE IN TEGRA TE OPTIMIZE & GROW • Business Continuity: achieved • Governance: unified Board (RFA • Scale: accretive acquisitions & zero disruption; growth sustai
Slide 16: Real Estate Portfolio
Real Estate Portfolio Real Estate Portfolio IN C RE A S E I N W EIG HTED AVG R E NT A L R A T E 6.1% OV ERVIEW CT S OANBSLI S E TOP E NETR, ASTTIA OBNLSE VOI A C CDUIP VA NS ER CIYF(I2C) A T I ON ( 2)R EONNE LWEAALSSE( 3 ) 88 Diversified Commercial and Residential Properties in Canada & the US 100.0
Slide 17: $433 million in asset sale pipeline
$433 million in asset sale pipeline enabling targeted capital rotation strategy. $60mm $168mm $265mm +4.1% C LO S ED S ALE S U NC O N DI TI O NA L C O NDI T IO N AL S AL E VA L U E A T 5 .9 % A BO V E C O NT RA CT S A T C O NT RA CT S A T A BO V E I F RS ( 1 ) I F RS ( 1 ) 3 .5 % ABO V E O R A BO V
Slide 18: Origination Growth
Origination Growth Origination Growth S I N C E 2 0 1 8 , O R I G I N A TI ON S ( 1 ) A C R O S S A L L PR O D U C T L I N E S H A V E G RO W N FR O M $ 1 4 . 5 M I L L I ON T O $ 5 . 4 B I L L I O N . $5.4 B $4.1 B 40% $3.2 B $3.1 B I NCR EASE Y o Y $2.8 B FO R Q1 $2.5 B Q1 2025 $1.4 B $317.0 MM $1
Slide 19: Prime Residential: Excellent Credit Scores
Prime Residential: Excellent Credit Scores S T R O N G C R E DI T S C O R E B O R R O W E R S . AV E RA G E CR EDI T S CO RE S 790+ 850 800 794 792 STRONG B ORROWERS 750 WITH 79 0+ AVG C R E D I T S C O R E (1 ) 700 650 600 Q1 2025 Q1 2026 Avg Credit Score 1) RFA Mortgage Corporation average client
Slide 20: Prime Residential: Resilient Portfolio Performance
Prime Residential: Resilient Portfolio Performance 0 . 0 2 4% M O R T G A G E A R R E A R S R A T E V S 0 . 2 6% C A N A D I A N M A R K E T A V E R A G E . 1 0.300% 0.280% 90% 0.250% 0.200% L O W E R T H AN 0.150% M A R KE T A VE R A G E 1 OF MORTGAGE 0.100% ARREARS 0.050% 0.022% 0.024% 0.000% Q1 2
Slide 21: RFA Bank: Near Prime Credit Scores
RFA Bank: Near Prime Credit Scores NEAR PRIME CREDIT S CORES FOR ALTERNATIVE BO RROWERS. A V E R A G E C R E D I T S C O R E S (1) 720 700 680 693 698 698 NEAR PRIME CREDIT S COR ES IN AN 660 A LTERNATIVE P OR TF OLIO 640 620 600 Q1 2025 Q1 2026 Avg Credit Score 1) RFA Bank of Canada average client
Slide 22: RFA Bank: Expected Credit Loss Allowance
RFA Bank: Expected Credit Loss Allowance L E S S T H A N 1% O F P R O V I S I O N S W E R E R E A L I Z E D A S A C T U A L W R I T E - O F F S . PROVI SIO NED VS REAL IZ ED L OSS ($M M) $40.0 MM $35.3 MM $35.0 MM $30.0 MM $25.0 MM 0.86% OF PR OVI SI ON S W ER E $20.0 MM R E A L I Z E D A S A CT U A
Slide 23: Financial Performance
Financial Performance JACLYN KOENIG Chief Financial Officer MAY 13, 2026 I NV ESTO R PRESE NTATI O N | Q 1 2 02 6 R FA F I N A N C I A L PAGE 23
Slide 24: Accounting Implication of Arrangement
Accounting 01 Results Implication of All numbers in the financial statements & MD&A are a continuation of the former Artis. Arrangement 02 Comparative Figures Comparative figures for periods prior to the merger reflect the historical results of Artis. For accounting purposes, the transaction RFA Inc
Slide 25: Q1 2026 Financial Highlights
AGGREGATE SALE PRICE: DISPOSITIONS (1) Q1 2026 Financial Highlights $60.5 MM CLOSED Q1 | REAL ESTATE SEGMENT Q1 2026 WEIGHTED-AVG LEASE RENEWAL RATES (1) Financial 6.1% INCREASE | REAL ESTATE SEGMENT Highlights NET INTEREST MARGIN (1) 2.7% | FINANCIAL SERVICES SEGMENT CET1 RATIO (2) 18.0% | FINANCIA
Slide 26: Closing Remarks
Closing Remarks BEN RODNEY President & CEO MAY 13, 2026 I NV ESTO R PRESE NTATI O N | Q 1 2 02 6 R FA F I N A N C I A L PAGE 26
Slide 27: Bringing It All Together
1 Advance ongoing integration success 2 Accelerate origination growth, fueled by current momentum Overview 3 Target borrowers with high-quality credit BR ING IN G IT AL L TO GE THER . 4 Uphold disciplined underwriting resulting in low realized write-offs 5 Execute on disposition strategy 6 Rotate ca
Slide 28: Heather Nikkel
HEAT HE R NIKK EL SVP, Investor Rel ations & Sustainab ility investor.r elations@r fa.ca TSX: RF A MAY 13, 2026 I NV ESTO R PRESE NTATI O N | Q 1 2 02 6 R FA F I N A N C I A L PAGE 28