-- Mr. Rethazy will shape a more integrated Personal Banking business that 
      brings together the strength of EQB's consumer capabilities with the full 
      potential of the announced agreement to acquire PC Financial and enter a 
      long-term strategic relationship with Loblaw Companies 
 
   -- Supporting this evolution is a refined executive leadership structure 
      that reflects EQB's growing scale, ambition and significance to the 
      Canadian banking industry 

TORONTO, March 25, 2026 /CNW/ - EQB Inc. (TSX: EQB) today announces Daniel Rethazy's appointment as Executive Vice President, Personal Banking. Mr. Rethazy brings deep experience in Canadian Banking to EQB that will accelerate momentum and unlock a new era of growth for the company's Personal Banking franchise, delivering a more competitive and rewarding banking experience, and a stronger and more resilient banking industry for all Canadians.

"Daniel is a generational talent in Canadian banking, and we're thrilled to welcome him to EQB," said Chadwick Westlake, President and CEO. "We're a digital-first leader backed by the best talent, and Daniel joining us is another strong validation of our Challenger strategy and a clear sign that EQB is entering its biggest phase of growth -- one where we compete to fundamentally improve how Canadians save, spend, borrow, and plan for their futures. Daniel brings deep operating discipline, strategic clarity, lending and regulatory perspective, and experience scaling complex organizations, all of which will be critical as we unlock our full potential and make EQ Bank a household name."

In his new role effective April 6, 2026, Mr. Rethazy will shape a unified and integrated Personal Banking business. It will bring together residential lending, featuring single-family residential lending and reverse mortgages -- one of EQB's largest drivers of growth, retail and broker deposits -- and its award-winning EQ Bank digital platform that has transformed how Canadian families and small businesses save, spend and earn. Subject to EQB's announced agreement* to acquire PC Financial securing required regulatory approvals, he will also oversee these incoming products, distribution channels and loyalty strategy as it becomes a cornerstone of EQ Bank Personal Banking. This includes managing the long-term strategic relationship with Loblaw Companies Limited for EQ Bank to be the exclusive banking partner for the PC Optimum$(TM)$ program.

"EQB has a platform and an offering unlike anything else in Canadian banking -- and we are just getting started," said Daniel Rethazy, EVP, Personal Banking. "EQB is challenging the status quo in banking and innovating at a rapid pace to deliver more choice, more value, and better experiences for Canadians. There's enormous potential ahead as we unlock the full strength of the Personal Banking business and continue pushing the limits of what's possible for Canadians. I'm excited to work alongside EQB's exceptional executive leadership team to build on existing momentum and make the bank an even stronger force."

A proven banking innovator with deep experience in transforming and scaling future-ready banking operations

Mr. Rethazy brings nearly twenty years of leadership experience across two of Canada's largest financial institutions, with a proven track record of building and leading successful businesses as well as large distribution and operational teams.

He is joining EQB from CIBC where he served as Executive Vice President, Enterprise Capabilities and Organizational Agility. Prior to that role, Mr. Rethazy served as Senior Vice President of CIBC's Personal Lending and Insurance businesses in Canada, one of the largest consumer lending operations in the country, where he steered their residential mortgage business and growth strategy. His track record reflects an ability to scale core businesses and execute multi-year transformation agendas with deep operational rigor.

Earlier in his career, Mr. Rethazy held progressively senior leadership roles at TD Bank across Wealth, Canadian Banking and Direct Channels. He also served as Associate Principal at McKinsey & Company prior to joining TD Bank, advising global institutions on strategy, operational turnarounds and new business building. Mr. Rethazy holds an MBA from Harvard Business School.

Shaping EQB's next generation banking business with new executive leadership structure

Mr. Rethazy's appointment is complemented by key enhancements to EQB's executive leadership team that further reflect the company's growing scale and ambition. Anilisa Sainani will step into the elevated role of EVP and CFO, expanding her mandate to include leadership of the Treasury function -- a critical pillar as EQB accelerates its funding capabilities.

Darren Lorimer will be elevated to the role of EVP, Commercial Banking, Marlene Lenarduzzi as EVP and Chief Risk Officer, and Gavin Stanley as EVP and Chief Human Resources Officer. Dipti Patel, Senior Vice President and Chief Credit Officer, will join the broader executive leadership team, underscoring the growing importance of strong, independent risk oversight as the organization continues to scale and increase in complexity.

Together, these appointments underscore EQB's emergence as a true talent magnet and reinforce the depth and capability of the leadership team shaping EQB's future -- one positioned to compete at a new level to deliver a more modern, competitive banking experience for Canadians.

About EQB Inc.

EQB Inc. (TSX: EQB) is a leading digital financial services company with $142 billion in combined assets under management and administration (as at January 31, 2026). It offers banking services through Equitable Bank, a wholly owned subsidiary and Canada's seventh largest bank by assets, and wealth management through ACM Advisors, a majority owned subsidiary specializing in alternative assets. As Canada's Challenger Bank(TM), Equitable Bank has a clear mission to drive change in Canadian banking to enrich people's lives. It leverages technology to deliver exceptional personal and commercial banking experiences and services to over 800,000 customers and more than six million credit union members through its businesses. Through its digital EQ Bank platform (eqbank.ca), its customers have named it one of Canada's top banks on the Forbes World's Best Banks list since 2021.

To learn more, please visit eqb.investorroom.com or connect with us on LinkedIn.

Investor contact:

Lemar Persaud

VP and Head of IR

investor_enquiry@eqb.com

Media contact:

Danielle Mason

Director, PR & Communications

danielle.mason@eqbank.ca

Disclaimer

* On December 3, 2025, EQB and Loblaw Companies Limited entered into a definitive agreement pursuant to which EQB will acquire President's Choice Bank, PC$(R)$ Financial Insurance Agency Inc., PC(R) Financial Insurance Brokers Inc. and certain other affiliated entities of PC Bank. In connection with the closing of the acquisition, EQB will enter into a long-term strategic relationship with Loblaw pursuant to a commercial agreement to become the exclusive financial partner of the PC Optimum(TM) loyalty program.

Forward Looking Information

Statements made in this news release include forward-looking statements within the meaning of applicable securities laws ("forward looking statements"). Generally, forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "guidance", "planned", "estimates", "forecasts", "outlook", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases which state that certain actions, events or results "may", "could", "would", "should", "might" or "will be taken", "occur", "be achieved", "will likely" or other similar expressions of future or conditional verbs. These statements include, but are not limited to, statements relating to EQB's objectives, strategies and initiatives; financial performance expectations, whether with respect to EQB's businesses, the Transaction or the Canadian economy; the expected impact of the Transaction, including the expected impact on EQB's size, operations, capabilities, growth drivers and opportunities, activities, attributes, profile, business services portfolio and loans, revenue and assets mix, market position, profitability, performance, and strategy; the anticipated benefits of the Transaction; the expected impact of the Transaction on EQB's financial performance; the terms and conditions of the Transaction Agreement, the Program Participation Agreement and the investor rights agreement; expectations regarding EQB's business model, plans and strategy; the maintenance of EQB's CET1 ratio, capital structure and liquidity profile and changes in adjusted EPS; the composition of the Board following closing of the Acquisition; the anticipated timing and the various steps to be completed in connection with the Transaction, including receipt of regulatory approvals and the anticipated timing for closing of the Acquisition; the strategic fit and complementarity of PC Financial and EQB; anticipated synergies and estimated transaction and integration costs and the timing of incurrence thereof; EQB's financial performance objectives, vision and strategic goals; the economic and market review and outlook, the outlook and priorities for each of EQB's business lines; and statements by EQB representatives.

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