Mr. Gordon Reykdal reports

EVERYDAY PEOPLE FINANCIAL CLOSES ACQUISITION OF ARVATO FINANCIAL SOLUTIONS LIMITED

Everyday People Financial Corp.'s wholly owned subsidiary, BPO Collections Ltd., has closed the previously announced acquisition of Arvato Financial Solutions Ltd. (AFS U.K.), pursuant to a definitive share purchase agreement dated Oct. 2, 2023.

AFS U.K. is a provider of accounts receivable management services in the United Kingdom. AFS U.K. primarily focuses on providing financial and collection management services in the regulated environment overseen by the U.K.'s Financial Conduct Authority (FCA). AFS U.K. caters to major creditors operating within the financial services, utilities, telecommunications and debt purchase sectors.

"Graham Rankin, co-CEO, revenue cycle management of Everyday People, is excited with the opportunities this acquisition brings to our group and looks forward to welcoming Debbie Nolan, managing director of Arvato and leading industry expert, into the EP family."

Details of the acquisition

Pursuant to the terms of the purchase agreement, BPO has acquired 100 per cent of the issued and outstanding shares in the capital of AFS U.K., a wholly owned company of Arvato Group, on a debt-free basis. The acquisition is an arm's-length transaction, and the company will not assume any debt. No finder's fee was paid in connection with the acquisition. This transaction is considered not material, does not involve the issuance of Everyday People securities and does not constitute a fundamental acquisition, and meets other criteria of an exempt transaction under TSX-V Policy 5.3. The completion of this acquisition was subject to conditions customary for transactions of this nature, including, but not limited to, the receipt of all requisite third party and regulatory approvals, including the acceptance of the FCA in the U.K. which the company received.

About Everyday People Financial Corp.

Everyday People is a revenue cycle management consolidator founded on the belief that everyone deserves a second chance to re-establish and build credit and have access to affordable credit options. The company is headquartered in Edmonton, Alta., Canada, with operations in Canada and the U.K. Everyday People is changing the way revenue cycle management agencies work by enhancing its client services with affordable financial products and literacy programs. Utilizing its own specialized credit facilitation products, the company is helping debtors rebuild their financial health and generational wealth.

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