Mr. Eddy Cocciollo reports

DOMINION LENDING CENTRES INC. ANNOUNCES MANAGEMENT CHANGES

Dominion Lending Centres Inc.'s board of directors has approved certain management changes to promote operational efficiency and collaboration. Eddy Cocciollo, current co-president of the corporation, has been appointed the president of the DLC group of companies. James Bell, current co-president and general counsel of the corporation, has been appointed executive vice-president, corporate and chief legal officer.

Gary Mauris, chairman and chief executive officer, commented: "We are delighted to announce Eddy's appointment as president of the DLC group. Eddy is a leader in our company and in the mortgage broker industry. Having a single president for the DLC group is important both internally and externally as it provides clarity as to our leadership and decision-making structure. James was a leading proponent of this change as he -- like me -- believes Eddy is the right person for the job and he felt this was an important final step away from the legacy business that was Founders Advantage. As CEO and a shareholder, I'm very pleased that Eddy and James are so supportive of each other and always put the corporation's interests first. To be clear, Chris Kayat (vice-chairman) and I remain 100 per cent committed to the corporation and we're incredibly optimistic with the opportunities ahead."

The management changes also accompany a shift in operational strategy for the corporation as we move more toward collaboration and integration with our mortgage brokerage franchise brands and technology. Mr. Mauris remarked, "We will continue to offer three distinct mortgage brokerage brands: Dominion Lending Centres (DLC), Mortgage Centre Canada (MCC) and Mortgage Architects Inc. (MA) -- but intend to integrate our operations to continue to provide an industry-leading mortgage brokerage experience by enhancing synergies and operational efficiencies."

Mr. Cocciollo, president of DLG group, shared his perspective on assuming an expanded role within the organization, stating: "This transition marks a continuation of my unwavering commitment to the success of our owners, brokers and partners. While my dedication remains steadfast, my increased responsibilities enable me to work more closely with our management team, fostering collaboration to enhance our collective business endeavours. Our overarching objective is clear: to elevate every facet of our business. With this development, we can now channel our attention towards refining specific areas that require focused improvement."

In other management changes, Dong Lee, chief operating officer of the corporation, will be leaving the corporation in February, 2024, to pursue an opportunity with Axiom Innovations (Axiom is a technology company and a trusted service provider to Newton). Mr. Lee served as COO for the corporation since 2019 and joined Mortgage Architects in 2005. Mr. Mauris commented: "Dong has been with MA and DLC for 18 years; he is a wealth of knowledge and is respected by his peers. We give our sincere thanks to Dong for his many contributions and we wish him nothing but success in his new role at Axiom."

Dave Teixeira (currently executive vice-president, business development and public affairs) has been appointed executive vice-president, DLCG operations. Mr. Teixeira joined DLC in 2015 and has many responsibilities, including managing partnership relationships, media and government relations, and special projects. Mr. Mauris commented: "Dave is a valuable member of our management team who works closely with our many third party partners. Dave's new role and title better reflects the various operational functions he performs for DLCG."

About Dominion Lending Centres Inc.

Dominion Lending Centres is Canada's leading network of mortgage professionals.