Toronto, Ontario--(Newsfile Corp. - August 5, 2026) - Atrium Mortgage Investment Corporation (TSX: AI) (TSX: AI.DB.F) (TSX: AI.DB.G) ("Atrium") today released its financial results for the three and six months ended June 30, 2026.

"Atrium delivered solid results for the second quarter and for the first six months of 2026 while maintaining its disciplined approach to portfolio management. Although the lending environment showed early signs of improvement during the second quarter across both the commercial and residential real estate markets, activity levels remain well below historical averages. Given these conditions, Atrium earned basic earnings per share of $0.24 for the quarter compared with $0.28 per share in the prior year, while continuing to support our regular quarterly dividend of $0.2325 per share. We have maintained a conservative risk profile with 96.9% of our portfolio invested in first mortgages and a weighted average loan-to-value of 62.5%^[1].

Our mortgage portfolio declined to $860.1 million as at June 30, 2026 from $896.2 million at March 31, 2026, despite having our most active quarter for new loan business since the second quarter of 2025. This was due to an unusually high level of repayments in the quarter, and we expect repayment activity to moderate over the balance of the year. With our new Alberta office having opened in mid-April, we also anticipate increased loan origination activity from Western Canada in the second half of the year. As a result, we anticipate the mortgage portfolio to exceed $900 million by the end of the year" said Rob Goodall, CEO of Atrium.

Q2 2026 Highlights

• Quarterly net income of $11.7 million, compared to $13.1 million in the prior year

• Quarterly basic and diluted earnings per share of $0.24

• Mortgage portfolio of $860.1 million

• Well-secured mortgage portfolio

  • 96.9% of the portfolio in first mortgages

  • 90.5% of the portfolio is less than 75% loan-to-value

  • Weighted average loan-to-value is 62.5%¹

Results of operations

Atrium reported assets of $835.6 million as at June 30, 2026, down from $893.6 million at the end of 2025. Revenues for the three months ended June 30, 2026 were $18.7 million, a decrease of 11.8% from the comparative quarter in the prior year. Net income for the three months ended June 30, 2026 was $11.7 million, a decrease of 10.5% from the comparative quarter of the prior year.

For the six months ended June 30, 2026, revenues were $38.5 million, a decrease of 10.7% from the comparative period in the prior year. Net income for the six months ended June 30, 2026 was $23.7 million, a decrease of 5.1% from the prior year.

For the three months ended June 30, 2026, basic and diluted earnings per common share were $0.24, compared with basic and diluted earnings per common share of $0.28 and $0.27, respectively for the three months ended June 30, 2025. For the six months ended June 30, 2026, basic and diluted earnings per common share were $0.49, compared with basic and diluted earnings per common share of $0.53 and $0.52, respectively for the six months ended June 30, 2025.

Mortgages receivable as at June 30, 2026 were $834.4 million, down from $892.5 million as at December 31, 2025. This was due to mortgage interest and principal repayments exceeding advances. Atrium's allowance for credit losses at June 30, 2026 totalled $30.1 million or 3.5% of the gross mortgage portfolio. During the six months ended June 30, 2026, $132.9 million of mortgage principal was advanced and $186.4 million was repaid and transferred. The weighted average interest rate on the mortgage portfolio at June 30, 2026 was 8.69%, compared to 8.98% at December 31, 2025.

Borrowings under our $380 million credit facility decreased to $224.1 million as at June 30, 2026, down from $283.0 million as at December 31, 2025, leaving us with healthily available capacity. The weighted average cost of borrowing on the credit facility was 4.67% for the three months ended June 30, 2026, down from 5.08% for the year end December 31, 2025, and 5.10% in the prior year comparative quarter.

SELECTED FINANCIAL HIGHLIGHTS

Consolidated Statements of Income and Comprehensive Income
(Unaudited, 000s, except per share amounts)

Selected Financial Position Highlights
(000s, except per share amounts)

Mortgage portfolio
(carrying amounts in 000s)

For additional information on the financial results, further analysis of the company's mortgage portfolio, and definitions of non-IFRS measures and other financial measures, please refer to Atrium's interim condensed consolidated financial statements and management's discussion and analysis for the three and six months ended June 30, 2026, available on SEDAR+ at www.sedarplus.ca, and on the company's website at www.atriummic.com.

Normal Course Issuer Bid

During the quarter, Atrium received approval from the Toronto Stock Exchange (the "TSX") to renew its normal course issuer bid (the "NCIB"), enabling Atrium to acquire for cancellation up to 4,574,662 common shares during the twelve-month period commencing June 24, 2026, and ending on June 23, 2027.

2026 Fourth Quarter Dividends

Atrium is pleased to announce that the Board of Directors has declared a monthly cash dividend of $0.0775 per common share (subject to rescission or adjustment at the discretion of the Board of Directors) payable on each dividend payment date listed below to shareholders of record at the close of business on the corresponding record date:

Conference call

Interested parties are invited to participate in a conference call with management on Thursday, August 6, 2026 at 9:00 a.m. ET to discuss the results.

To participate or listen to the conference call live, please call 1-833-491-0507 (call topic: Second quarter results). For a replay of the conference call (available until August 18, 2026) please call 1-833-607-0619, passcode 4964319#.

About Atrium

Canada's Premier Non-Bank Lender™

Atrium is a non-bank provider of residential and commercial mortgages that lends in major urban centres in Canada where the stability and liquidity of real estate are high. Atrium's objectives are to provide its shareholders with stable and secure dividends and preserve shareholders' equity by lending within conservative risk parameters. Atrium is a Mortgage Investment Corporation ("MIC") as defined in the Canada Income Tax Act, so is not taxed on income provided that its taxable income is paid to its shareholders in the form of dividends within 90 days after December 31 each year. Such dividends are generally treated by shareholders as interest income, so that each shareholder is in the same position as if the mortgage investments made by the company had been made directly by the shareholder. For further information about Atrium, please refer to regulatory filings available at www.sedarplus.ca or investor information on Atrium's website at www.atriummic.com.

^[1] Weighted average loan-to-value ("LTV") is calculated based on the value of the underlying assets determined using third-party appraisals at origination and updated using third-party appraisals when warranted as described in Atrium's Management's Discussion and Analysis for the three and six months ended June 30, 2026.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/308255