Mr. Jason Mullins reports

GOEASY LTD. ANNOUNCES PRICING OF US$550 MILLION OF SENIOR UNSECURED NOTES

goeasy Ltd. has priced $550-million (U.S.) aggregate principal amount of 9.25 per cent senior unsecured notes due 2028. The notes will be guaranteed on a senior unsecured basis by certain of goeasy's current and future subsidiaries. The company is also expected to enter into a currency swap agreement to fix the foreign currency exchange rate for the proceeds from the offering, and for all required payments of principal and interest under the notes, which it expects will reduce the effective cost of borrowing of the notes when converted into Canadian currency.

goeasy estimates the net proceeds from the offering will be approximately $745-million, based on the Bank of Canada daily rate on Nov. 10, 2023, for the Canadian-dollar/U.S.-dollar exchange rate, after deducting fees and estimated offering expenses, and subject to adjustment as a result of the currency swap. goeasy intends to use the proceeds from the sale of the notes to finance the redemption of all of its outstanding 5.375 per cent senior unsecured notes due 2024. The notice of redemption issued today for the 2024 notes is conditioned upon completion of the offering. The closing of the offering is not conditioned upon the closing of the redemption. This press release does not constitute a notice of redemption with respect to the 2024 notes.

"We are pleased to announce the refinancing of our unsecured notes, which were oversubscribed and demonstrate the confidence in our business. The refinancing further extends the maturity of the debt in our capital structure, ensuring we can remain focused on our growth ambitions," said Jason Mullins, goeasy's president and chief executive officer. "While the pricing of these notes reflects current market conditions, we also intend to enter into a currency swap agreement, which we expect to lower the effective cost of borrowing. Furthermore, the effects of this refinancing have already been incorporated into the financial outlook we provided earlier this year, which includes expanding margins and producing a return on equity consistently above 20 per cent. We remain confident in achieving our three-year financial outlook."

The offering of the notes is expected to close on Nov. 28, 2023, subject to customary closing conditions.

About goeasy Ltd.

goeasy is a Canadian company, headquartered in Mississauga, Ont., that provides non-prime leasing and lending services through its easyhome, easyfinancial and LendCare brands. Supported by approximately 2,400 employees, the company offers a wide variety of financial products and services, including unsecured and secured instalment loans, merchant financing through a variety of verticals, and lease-to-own merchandise. Customers can transact seamlessly through an omni-channel model that includes on-line and mobile platforms, over 400 locations across Canada, and point-of-sale financing offered in the retail, powersports, automotive, home improvement and health care verticals, through over 9,100 merchant partners across Canada. Throughout the company's history, it has acquired and organically served over 1.3 million Canadians, and originated over $12.1-billion in loans.

goeasy's common shares are listed on the Toronto Stock Exchange under the trading symbol GSY.

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