GSY Goeasy Ltd

goeasy Ltd. (TSX: GSY) (“goeasy” or the “Company”), one of Canada’s leading non-prime consumer lenders, announced today that it has entered into an agreement with a syndicate of underwriters led by BMO Capital Markets, under which the underwriters have agreed to buy on a bought deal basis 425,000 common shares (the “Common Shares”) at a price of C$118.50 per Common Share for gross proceeds of C$50 million (the “Offering”). The Company has granted the underwriters an option, exercisable at the offering price for a period of 30 days following closing of the Offering, to purchase up to an additional 15% of the Offering to cover over-allotments, if any, and for market stabilization purposes. The Offering is expected to close on or about November 21, 2022 and is subject to goeasy receiving necessary regulatory approvals. goeasy intends to use the net proceeds of the Offering to support the growth of the Company’s consumer loan portfolio and for general corporate purposes.

“We are currently producing an accelerated rate of growth, complemented by stable consumer credit performance, with 117% year over year loan growth in our most recent quarter resulting in record earnings”, said Jason Mullins, President and Chief Executive Officer. “By issuing a modest amount of additional equity, we significantly increase our balance sheet capacity and improve our leverage profile, allowing us to utilize our $1.12 billion of available liquidity to continue executing our growth plan. As such, the business is now positioned to exceed the high end of our forecast for the consumer loan portfolio in future years, and we have flexibility to capitalize on available growth opportunities in the market. We anticipate the Offering to be accretive to our adjusted earnings per share in the second half of 2023 and beyond.”

The Common Shares will be offered by way of a prospectus supplement to the short form base shelf prospectus of the Company for the province of Quebec and amended and restated short form base shelf prospectus of the Company for all other provinces dated January 7, 2022, amending and restating the short form base shelf prospectus of the Company dated November 23, 2020, in all of the provinces of Canada and may also be offered by way of private placement in the United States.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Forward-Looking Statements

Certain information herein constitutes “forward-looking information” as defined under Canadian securities laws which reflect management’s expectations regarding objectives, plans, goals, strategies, future growth, results of operations, performance, business prospects and opportunities of the Company. Some of the specific forward-looking statements contained herein include, but are not limited to, statements with respect to the closing date of the Offering, the use of proceeds of the Offering and expectations that the Offering will be accretive to our adjusted earnings per share in the second half of 2023 and beyond. The words “plans”, “expects”, “does not expect”, “scheduled”, “estimates”, “intends”, “anticipates”, “does not anticipate”, “projects”, “believes”, or variations of such words and phrases or statements to the effect that certain actions, events or results “may”, “will”, “could”, “would”, “might”, “occur”, “be achieved”, or “continue” and similar expressions identify forward-looking statements. Such forward-looking statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Forward-looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable by management as of the date hereof, are inherently subject to significant business, economic and competitive uncertainties and contingencies. When relying on forward-looking statements to make decisions, readers are cautioned not to place undue reliance on these statements, as forward-looking statements involve significant risks and uncertainties and should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not the times at or by which such performance or results will be achieved. A number of factors, including the risks described under the heading “Risk Factors” in our annual information form and management’s discussion and analysis for the year ended December 31, 2021 filed on SEDAR, could cause actual results to differ materially from the results discussed in the forward-looking statements. Additional information about risks and uncertainties is contained in the other filings of the Company with securities regulators.

About goeasy Ltd. goeasy Ltd., a Canadian company, headquartered in Mississauga, Ontario, provides non-prime leasing and lending services through its easyhome, easyfinancial and LendCare brands. Supported by more than 2,300 employees, the Company offers a wide variety of financial products and services including unsecured and secured instalment loans. Customers can transact seamlessly through an omni-channel model that includes an online and mobile platform, over 400 locations across Canada, and point-of-sale financing offered in the retail, powersports, automotive, home improvement and healthcare verticals, through approximately 6,000 merchants across Canada. Throughout the Company’s history, it has acquired and organically served over 1.2 million Canadians and originated over $9.5 billion in loans, with one in three easyfinancial customers graduating to prime credit and over 60% increasing their credit score within 12 months of borrowing.

Accredited by the Better Business Bureau, goeasy is the proud recipient of several awards including Waterstone Canada’s Most Admired Corporate Cultures, Glassdoor Top CEO Award, Achievers Top 50 Most Engaged Workplaces in North America, Greater Toronto Top Employers Award, the Digital Finance Institute’s Canada’s Top 50 FinTech Companies, ranking on the TSX30 and placing on the Report on Business ranking of Canada’s Top Growing Companies, honoured by The Globe and Mail’s Women Lead Here executive gender diversity benchmark and has been certified as a Great Place to Work®. The company is represented by a diverse group of team members from over 75 nationalities who believe strongly in giving back to the communities in which it operates. To date, goeasy has raised and donated over $4.7 million to support its long-standing partnerships with BGC Canada, Habitat for Humanity and many other local charities.

goeasy Ltd.’s. common shares are listed on the TSX under the trading symbol “GSY”. goeasy is rated BB- with a stable trend from S&P and Ba3 with a stable trend from Moody’s. Visit www.goeasy.com.

For further information, please contact:

Jason Mullins President & Chief Executive Officer (905) 272-2788

Farhan Ali Khan Senior Vice President and Chief Corporate Development Officer (905) 272-2788