Everyday People Financial Reports Strong Financial Results for the Three and Six Months Ended June 30, 2023

• Revenue of $10.8 million for the three months ended June 30, 2023, up 125% as compared to $4.8 million for the same period in 2022
• Revenue of $18.8 million for the six months ended June 30, 2023, up 102% as compared to $9.3 million for the same period in 2022
• Positive Adjusted EBITDA, net of finance costs for the three and six months ended June 30, 2023

Edmonton, Alberta--(Newsfile Corp. - August 14, 2023) - Everyday People Financial Corp. (TSXV: EPF) ("Everyday People" or the "Company"), a Canadian-based revenue cycle management consolidator and financial service provider, is pleased to announce its consolidated financial and operational results for the three and six months ended June 30, 2023. All figures are in Canadian dollars unless otherwise stated.

"We are excited to report strong financial results in our second quarter, which was a direct result of our dedication to our new strategy going forward." said Barret Reykdal, CEO of Everyday People. "We will continue to expand our revenue cycle management business line through accretive acquisitions in Canada and beyond, to drive profitability and build shareholder value."

Key Financial Highlights for the Three Months Ended June 30, 2023

• Revenue of $10.8 million for the three months ended June 30, 2023, up 125% compared to $4.8 million for the same period in 2022.

• Pro-forma revenue of $20.6 million for the three months ended June 30, 2023, assuming Pastdue Credit Solutions Limited ("PDC") and Zinc Group Limited ("Zinc") were acquired on April 1, 2023. Refer to the "Reconciliation of Non-IFRS Financial Measures" disclosed in the Company's "Management's Discussion and Analysis" report.

• Adjusted EBITDA of $1.0 million¹ for the three months ended June 30, 2023, compared to adjusted EBITDA loss of $0.6 million for the same period in 2022, reflecting a $1.6 million (267%) increase compared to the same period in 2022. Refer to "Reconciliation of Non-IFRS Financial Measures" disclosed in the Company's "Management's Discussion and Analysis" report.

• Positive adjusted EBITDA, net of finance costs of $0.3 million¹ for the three months ended June 30, 2023, compared to adjusted EBITDA (loss) of $0.9 million for the same period in 2022, reflecting a $1.2 million (133%) increase compared to the same period in 2022.

• Net loss before taxes of $0.6 million for the three months ended June 30, 2023, as compared to a net loss before taxes of $4.1 million for the same period in 2022.

• Pro-forma net income before taxes of $0.9 million for the three months ended June 30, 2023, assuming PDC and Zinc were acquired on April 1, 2023. Refer to the "Reconciliation of Non-IFRS Financial Measures" disclosed in the Company's "Management's Discussion and Analysis" report.

Key Financial Highlights for the Six Months Ended June 30, 2023

• Revenue of $18.8 million for the six months ended June 30, 2023, up 102% compared to $9.3 million for the same period in 2022.

• Pro-forma revenue of $39.9 million for the six months ended June 30, 2023, assuming PDC and Zinc were acquired on January 1, 2023. Refer to the "Reconciliation of Non-IFRS Financial Measures" disclosed in the Company's "Management's Discussion and Analysis" report.

• Adjusted EBITDA of $1.5 million¹ for the six months ended June 30, 2023, compared to adjusted EBITDA loss of $0.9 million for the same period in 2022, reflecting a $2.4 million (267%) increase compared to the same period in 2022. Refer to "Reconciliation of Non-IFRS Financial Measures" disclosed in the Company's "Management's Discussion and Analysis" report.

• Positive adjusted EBITDA, net of finance costs of $0.2 million¹ for the six months ended June 30, 2023, compared to adjusted EBITDA (loss) of $1.4 million for the same period in 2022, reflecting a $1.6 million (113%) increase compared to the same period in 2022.

• Net loss before taxes of $1.8 million for the six months ended June 30, 2023, as compared to a net loss before taxes of $5.4 million for the same period in 2022.

• Pro-forma net income before taxes of $1.4 million for the six months ended June 30, 2023, assuming PDC and Zinc were acquired on January 1, 2023. Refer to the "Reconciliation of Non-IFRS Financial Measures" disclosed in the Company's "Management's Discussion and Analysis" report.

Business Highlights

• The Company continues to add accretive acquisitions to its Revenue Cycle Management business segment, leveraging its experience as disciplined operators to drive profitability, with the latest acquisitions as follows:

- On July 19, 2023, the Company entered into a share purchase agreement to acquire 100% of the issued and outstanding shares of PDC, one of the United Kingdom's leading providers of revenue cycle management services. The acquisition will add a variety of enterprise clients such as energy, water, telecom, financial service providers, and government agencies, to the Company's business line. Closing is anticipated to close on or before August 18, 2023.

- The Company signed a non-binding LOI to acquire 100% of the issued and outstanding shares of Zinc, one of the United Kingdom's leading providers of revenue cycle management services.

¹Adjusted EBITDA

Financial Statements & Management's Discussion and Analysis

This news release should be read in conjunction with Everyday People's consolidated financial statements and "Management's Discussion and Analysis" report for the three and six months ended June 30, 2023, which have been posted under the Company's profile on SEDAR+ at www.sedarplus.com.

Non-IFRS Financial Measures

This news release makes reference to certain non-IFRS financial measures, including Pro-forma revenue, Adjusted EBITDA, and Pro-forma net income (loss).

"Pro-forma Revenue" in respect of a period means revenue for that period plus the Company's estimate of the additional revenue that it would have recorded if it had acquired each of the businesses on the first day of that period, calculated in accordance with the methodology described in the reconciliation table in "Reconciliation of Non-IFRS Measures". Given the Company's acquisition strategy, Pro-forma Revenue is more reflective of our expected run-rate. The Company considers the entity year end and respective quarter based on pre-acquisition year end of the acquired company to calculate Pro-forma revenue. The most comparable IFRS measure to Pro-forma revenue is revenue, for which a reconciliation is provided in "Reconciliation of Non-IFRS Financial Measures" disclosed in the Company's "Management's Discussion and Analysis" report.

"Adjusted EBITDA" is not a recognized measure under IFRS and does not have a standardized meaning prescribed by IFRS and is therefore unlikely to be comparable to similar measures presented by other companies. "EBITDA" means earnings before finance and interest costs, provision for income tax and amortization and depreciation expenses. "Adjusted EBITDA" is calculated as adding back the share-based compensation, depreciation and amortization expenses, impairment loss on goodwill, other expenses (income) and other non-operating expenses (income) management considers not directly related to operational performance of the period presented.

"Pro-forma net income (loss)" in respect of a period means net income (loss) for that period plus the Company's estimate of the additional revenue that it would have recorded if it had acquired each of the businesses on the first day of that period, calculated in accordance with the methodology described in the reconciliation table in "Reconciliation of Non-IFRS Measures". Given the Company's acquisition strategy, Pro-forma net loss (income) is more reflective of the expected run-rate. The Company considers the entity year end and respective quarter based on pre-acquisition year end of the acquired company to calculate Pro-forma net income (loss). The most comparable IFRS measure to Pro-forma net income (loss) is net income (loss), for which a reconciliation is provided in "Reconciliation of Non-IFRS Financial Measures" disclosed in the Company's "Management's Discussion and Analysis" report.

Pro-forma revenue, Adjusted EBITDA, and Pro-forma net income (loss) are used as non-IFRS financial measures to provide investors with a supplemental measure of the Company's operating performance and thus highlight trends in its core business that may not otherwise be apparent when relying solely on IFRS financial measures. The Company believes that securities analysts, investors, and other interested parties frequently use non-IFRS financial measures in the evaluation of issuers. The Company's management also uses non-IFRS financial measures to facilitate operating performance comparisons from period to period, prepare annual operating budgets and assess the Company's ability to meet its capital expenditure and working capital requirements.

Non-IFRS financial measures have limitations as analytical tools and should not be considered in isolation or as a substitute for an analysis of the Company's results under IFRS. There are a number of limitations related to the use of non-IFRS financial measures versus their nearest IFRS equivalents. Investors are encouraged to review the consolidated financial statements as at and for the three and six months ended June 30, 2023 and June 30, 2022, and disclosures in their entirety and are cautioned not to put undue reliance on any non-IFRS financial measure and view it in conjunction with the most comparable IFRS financial measures. In evaluating these non-IFRS financial measures, please be aware that in the future the Company will continue to have the adjustment similar to those adjusted in the presented period.

About Everyday People Financial Corp.

Everyday People is a revenue cycle management consolidator founded on the belief that everyone deserves a second chance to reestablish and build credit and have access to affordable credit options. We are headquartered in Edmonton, Alberta Canada with operations in Canada and the United Kingdom. We are changing the way revenue cycle management agencies work by enhancing our client services with affordable financial products and literacy programs. Utilizing our own specialized credit facilitation products, we're helping debtors rebuild their financial health and generational wealth.

For more information visit: www.everydaypeoplefinancial.com.

Everyday People Financial Corp. Contacts
Barret Reykdal
CEO of Everyday People Financial Corp.
letsconnect@epfinancial.ca
1 888 825 9808

Cautionary Note Regarding Forward-Looking Statements

This news release includes certain "forward-looking statements" or "forward-looking information" (collectively referred to hereafter as "forward-looking statements") under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to financial performance, results of operations, integration of the acquired businesses, statements with respect to the structure and terms of the Acquisition, timing for completion of the Acquisition, the ability of the parties to satisfy the conditions of the Acquisition in the required timeframes or at all, the ability of the Company to complete the Acquisition on the terms announced or at all, and the business, and the business, plans, strategy and operations of the Company. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to, the timely receipt of all required third party and regulatory approvals, including the acceptance of the TSX Venture Exchange, the inability to satisfy the conditions required to complete the Acquisition, termination of the Purchase Agreement, expectations and assumptions concerning the Company, and the acquired businesses as well as other risks and uncertainties, including those described in the documents filed by the Company on SEDAR+ at www.sedarplus.com. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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