Mr. Clive Kinross reports

PATHWARD PARTNERS WITH PROPEL TO LAUNCH NEW LINE OF CREDIT FOR CONSUMERS OVERLOOKED BY TRADITIONAL BANKS

Pathward NA, a national bank, has partnered with Propel Holding Inc. to add a new line of credit to open access for credit-challenged consumers. While credit options are abundant for some consumers, others find themselves with limited opportunities to access credit. The new Pathward line of credit can provide credit solutions to an underserved population in a responsible way. In addition to the appeal of credit access, consumers really find value in the flexibility of the line of credit because they can move the funds to their core spending account.

Pathward has engaged fintech partner Propel Holdings to service the loans through its lending-as-a-service (LaaS) platform. Propel is an innovative financial technology company (fintech) dedicated to credit inclusion, and by leveraging the fintech's experience and artificial intelligence-powered, proprietary platform, the program enables Pathward to provide consumers access to credit while limiting credit risk. Powered by its proprietary technology, Propel manages customer service and outreach, applications, collections and more through its on-line platform.

"Creating financial access for individuals who often get overlooked by more traditional lenders by offering the Pathward line of credit aligns with our purpose," said Anthony Sharett, Pathward president. "We are thrilled to partner with Propel to bring this program to the market as a part of our banking-as-a-service offering. Working together, we can provide eligible borrowers with year-round access to credit through a better alternative to high-interest programs."

The Pathward line of credit is a preapproved option offered to consumers through Pathward's existing partner distribution channels. This model enables existing partners to connect their customers to credit access they might not otherwise have. Borrowers only pay interest on the drawn amount when they sign up for Pathward line of credit, and there are zero fees affiliated with the product.

"Propel and Pathward are driven by a common mission to expand financial access to consumers. For Propel, this partnership marks the launch of our lending-as-a-service product offering, a natural and critical evolution of our business. When we founded Propel, we saw the limitations of existing technology and service to the tens of millions of underserved consumers and have met our goal of building out a best-in-class AI-powered solution. We believe that this is the beginning of a strong partnership that will have real impact for consumers overlooked by traditional lenders," said Clive Kinross, chief executive officer of Propel.

About Pathward

Pathward NA, a national bank, is a subsidiary of Pathward Financial Inc. Pathward is a United States-based financial empowerment company driven by its purpose to power financial inclusion. Pathward strives to increase financial availability, choice and opportunity across its banking-as-a-service and commercial finance business lines. The strategic business lines provide end-to-end support to individuals and businesses.

About Propel Holdings Inc.

Propel is an innovative, on-line financial technology company, committed to credit inclusion by providing and facilitating fair, fast and transparent access to credit with exceptional service using its proprietary on-line lending platform. Through its operating brands, Propel is focused on providing access to credit to underserved consumers who struggle to access credit from mainstream credit providers. Propel's revenue growth and profitability have accelerated significantly over the past two years as Propel has been able to facilitate access to credit for an increasing number of consumers, helping them move forward in their credit journeys.