Ms. Lindsay Finneran-Gingras reports

PROPEL ANNOUNCES NORMAL COURSE ISSUER BID

The Toronto Stock Exchange has accepted Propel Holdings Inc.'s notice of intention to proceed with a normal course issuer bid (NCIB).

The company's board of directors believes that an NCIB represents an appropriate and desirable use of the company's available liquidity, after investing in its strategic growth initiatives, to increase shareholder value and is in the best interest of Propel and its shareholders.

Pursuant to the notice, the company may purchase up to 1,716,266 of its common shares, representing approximately 5 per cent of the public issued and outstanding shares, during the 12-month period commencing Sept. 11, 2023, and ending Sept. 10, 2024. As at Aug. 29, 2023, there were 34,325,320 shares issued and outstanding. Under the NCIB, other than purchases made under block purchase exemptions, Propel may purchase up to 2,856 shares on the TSX during any trading day, representing approximately 25 per cent of 11,425, which represents the average daily trading volume on the TSX for the most recently completed six calendar months prior to the TSX's acceptance of the notice of the NCIB. Any shares purchased under the NCIB will be cancelled.

Although the company intends to purchase shares under its NCIB, there can be no assurances that any such purchases will be completed. Any purchases made under the NCIB will be made by Propel, subject to favourable market conditions, at the prevailing market price at the time of acquisition through the facilities of the TSX and/or alternative Canadian trading systems. Purchases under the NCIB may be made by means of open-market transactions, privately negotiated transactions or such other means as a securities regulatory authority may permit. In connection with the NCIB, Propel may enter into an automatic securities purchase plan with its designated broker, conditional on TSX review and approval.

About Propel Holdings Inc.

Propel is an innovative financial technology company, committed to credit inclusion by facilitating fair, fast and transparent access to credit through its proprietary, industry-leading on-line lending platform. Understanding the challenge faced by millions of people without adequate access to credit, Propel, through its operating brands, is dedicated to bringing appropriate credit solutions to consumers in Canada and the United States. For more than a decade, Propel has leveraged its expertise in consumer lending, its robust capabilities in artificial intelligence and underwriting, and its steadfast dedication to a superior customer experience to facilitate over one million loans and lines of credit to consumers in need.

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