Ms. Anilisa Sainani reports

EQUITABLE BANK COMPLETES SUCCESSFUL ISSUANCE OF EUROS500 MILLION OF COVERED BONDS, FURTHERING DIVERSIFICATION OF THE BANK'S FUNDING

EQB Inc.'s Equitable Bank has executed its latest offering of 500 million euros ($797-million) of covered bonds. The bonds were issued under the bank's $3.0-billion global legislative covered bond program and represent Equitable's seventh covered bond issuance since the launch of the program in 2021.

"We are pleased with the continued strong investor support for Equitable Bank's covered bond issuance," said Anilisa Sainani, executive vice-president and chief financial officer, EQ Bank. "Alongside the recent acquisition of PC Financial, this issuance is important in our increasingly diversified funding stack, which supports our plans for growth, maintains our strong investment profile, and fuels our mission to build a better banking experience for Canadian families and businesses."

The 500 million euros of 3.75 per cent coupon covered bonds were priced to yield 3.789 per cent and will mature on Dec. 7, 2029. The bonds are rated Aa1 by Moody's and AA+ by Fitch.

The issuance was completed with Barclays Bank, Toronto-Dominion Bank, Commerzbank, DZ Bank, Erste Group Bank, Landesbank Baden-Wurttemberg and Bank of Nova Scotia.

In the United Kingdom, this announcement is being distributed only to, and is directed only at, persons who: (A)(i) are investment professionals specified in Article 19(5) of the Financial Services and Markets Act (Financial Promotion) Order 2005; or (ii) are high-net-worth entities falling within Article 49(2)(a) to (d) of the order; or (iii) are other persons to whom it may otherwise lawfully be communicated; and (B) are qualified investors within the meaning of paragraph 15 of Schedule 1 to the Public Offers and Admissions to Trading Regulations 2024 (all such persons together being referred to as relevant persons). In the European Economic Area, this announcement is addressed only to, and directed only at, persons in member states who are qualified investors within the meaning of Article 2(e) of Regulation ((EU) 2017/1129). This announcement must not be acted on or relied on: (i) in the United Kingdom, by persons who are not relevant persons; and (ii) in any member state of the EEA, by persons who are not qualified investors. Any investment or investment activity to which this announcement relates is available only to: (i) in the United Kingdom, relevant persons; and (ii) in any member state of the EEA, qualified investors, and will be engaged in only with such persons.

About EQB Inc.

EQB is a leading Canadian financial service company with approximately $151-billion in combined assets under management and administration. It is the parent company of Equitable Bank, the country's seventh-largest Schedule 1 bank by assets, which operates EQ Bank, Canada's challenger bank.

Its purpose is to remake banking so every Canadian gets ahead, every day. Since 1970, the bank has built thoughtful financial solutions that serve more than four million customers, turning everyday moments into meaningful progress. As the exclusive financial partner of Loblaw Companies Ltd.'s PC Optimum loyalty program -- one of Canada's largest loyalty programs with more than 18 million members -- EQ Bank's financial solutions are deeply embedded into the daily lives of Canadians.

The bank provides personal and commercial banking services to Canadian households and businesses through everyday banking, tailored lending and connected payments, while fuelling competition and choice in Canadian banking. Through its subsidiaries, it also offers home and auto insurance, estate and trust services, credit union solutions, and alternative asset management.