MCAN Mortgage : 2024 Q1 Investor Presentation

Investor Presentation

May 6, 2024

Forward Looking Information

This presentation may contain forward-looking information within the meaning of applicable Canadian securities laws, including statements regarding the business and anticipated financial performance of MCAN Mortgage Corporation d/b/a MCAN Financial Group and its subsidiaries (the “Company”). These statements are based on current expectations and are subject to a number of risks and uncertainties that may cause actual results to differ materially from those contemplated by the forward-looking statements. Some of the factors that could cause such differences include legislative or regulatory developments, competition, technology changes, global market activity, interest rates, changes in government and economic policy, general economic conditions in geographic areas where MCAN operates and the impact of, and responses to, a pandemic. Often, but not always, forward-looking information can be identified by the use of words such as “may,” “believe,” “will,” “anticipate,” “expect,” “planned,” “estimate,” “project,” “future,” and variations of these or similar words or other expressions that are predictions of or indicate future events and trends and that do not relate to historical matters.

The Company cautions readers not to place undue reliance on forward-looking statements when making decisions, as many risks and uncertainties could cause actual results,

performance or achievements to be materially different from any future results, including those described in the Company’s annual information form, management’s discussion and analysis and other documents filed under the Company’s profile on SEDAR+ at www.sedarplus.ca. Certain statements included in this presentation may also be considered a “financial outlook” for purposes of applicable Canadian securities laws. The Company presents its outlook to assist shareholders in understanding management’s assumptions

and expectations on how the future will impact financial performance of the Company, and as such, these statements may not be appropriate for purposes other than this presentation. The Company does not undertake to update any forward-looking statements, whether oral or written, except as required by securities laws.

Non-GAAP and Other Financial Measures

This investor presentation references a number of non-GAAP and other financial measures and ratios to assess the Company’s performance such as return on average shareholders’ equity, spread of corporate mortgages over term deposit interest and expenses, net corporate mortgage spread income, and book value per common share. These measures are not calculated in accordance with International Financial Reporting Standards (“IFRS”), are not defined by IFRS and do not have standardized meanings that would ensure consistency and comparability between companies using these measures. These metrics are considered to be non-GAAP and other financial measures and are defined and reconciled to the most directly comparable IFRS measure in the “Non-GAAP and Other Financial Measures” section of the Company’s Q1 2024 MD&A available on SEDAR+ at www.sedarplus.ca, which section is incorporated herein by reference.

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Our Vision is to be the preferred mortgage lender and investor within our chosen real estate markets in Canada.

Our Mission every day is to deliver sustainable growth and value for our stakeholders through:

• 
  relationship-drivenmortgage lending and investing.
• quality work from an expert, engaged and committed team.
• 
  dedication to excellence in service of our clients, our colleagues, and our community.

MCAN Value Proposition

We differentiate ourselves from MIC peers with:

1. 
   A lower risk profile; and
2. 
   Higher returns driven by lower funding costs.

We differentiate ourselves from OSFI-regulated peers with:

1. A focus on real estate lending and investing, including our construction and other investment portfolio.

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