#Canada #Toronto #EQB Inc. #Equitable Bank #Canada's Challenger Bank

EQB Inc. Enhances Credit Agreement

On December 30, 2024, EQB Inc. (TSX: EQB), a prominent player in the digital financial services sector, declared a significant enhancement to its existing unsecured credit facilities. This announcement is impactful not only for the company but also for its stakeholders, as it showcases EQB's commitment to bolstering its financial structure amidst the evolving economic landscape.

EQB has successfully renegotiated and restated its credit agreement, introducing notable changes aimed at increasing its operational capabilities. The revamped credit facility has raised the total limit to an impressive $320 million, which entirely revolves. This enhanced liquidity is critical for EQB as it positions itself for future growth and expansion. Furthermore, the maturity date on this restated credit facility has been extended to December 30, 2027, providing EQB with an extended runway to utilize these funds effectively.

All terms and conditions associated with this restated credit facility will be accessible in detail, as a copy will be filed under the company's profile on SEDAR+. This transparency allows investors and stakeholders to understand the broader strategy EQB is implementing to secure its future.

About EQB Inc.

EQB Inc. is recognized as a leading digital financial services provider in Canada, operating under the brand Equitable Bank, the nation’s seventh-largest bank by assets. As of October 31, 2024, the company boasted a combined asset management portfolio worth approximately $127 billion. EQB operates with a mission to redefine Canadian banking, offering diversified financial services, which include personal banking and wealth management through its subsidiary, ACM Advisors.

Encapsulating the spirit of innovation, EQB has earned the reputation of being Canada’s Challenger Bank™, consistently striving to deliver exceptional banking experiences for nearly 700,000 customers and over six million credit union members. This positioning not only enhances customer experiences but also revolutionizes traditional banking practices in the region.

One of the standout features of EQB is its digital banking platform, EQ Bank, which has fostered a user-friendly environment celebrated by its customers. This platform has notably achieved recognition as one of Canada’s top banks according to the Forbes World's Best Banks list since 2021. Through its commitment to leveraging advanced technology, EQB strives to furnish top-notch personal and commercial banking services that significantly contribute to improving customer engagement.

In light of the recent developments in its credit facilities and overarching corporate strategy, EQB aims to maintain its growth trajectory while harnessing technological advancements to meet its customers’ needs. As it prepares for the upcoming years, this enhanced financial capacity is expected to propel EQB toward achieving its broader objectives and fostering greater financial inclusivity across Canada.

For further details regarding EQB Inc., interested parties may visit their official investor portal at eqb.investorroom.com.

Investor Contact:

Mike Rizvanovic
Managing Director, Investor Relations

Media Contact:

Maggie Hall
Director, PR Communications

With these strategic advancements, EQB not only reinforces its promise to enrich lives but also solidifies its standing as a pioneering force in the Canadian banking landscape.