Mr. Mike Marrandino reports

MARBLE FINANCIAL PROVIDES BUSINESS UPDATE

Marble Financial Inc. has provided a business update with 11 new licence agreements completed, 10 with its open banking proprietary software platform, Inverite Verification Inc., and one with its B2B2C (business to business to consumer) credit nurturing Marble Connect in the month of the July. Of these 11 licensees, seven have gone live on the Inverite open banking platform.

Marble's proprietary products are garnering more and more recognition and acceptability in both the alternative lending and credit nurturing sectors, focusing on the roughly 30 per cent Canadian consumers who are underbanked due to subprime credit scores. To date in 2022, Marble has secured a total of 75 B2B licence agreements with its open banking Inverite Verification and 22 B2B2C channel partner agreements with Marble Connect. Its business partners cover a wide spectrum in the financial sector, such as mortgages; rent to own; auto; power sports; debt consolidation; and consumer lending.

Industry recognition of Marble's products continue to grow month over month, which is a resounding positive sediment to its growth strategy in Canada and the company's anticipation in entering the United States market.

The company has recently reached a significant milestone with the collection of financial data on over two million Canadian consumers. This dataset continues to enhance our algorithms which results in a constantly improving risk score to assist its Inverite licensees in assessing and approving consumer credit.

As Marble Connect goes live through its channel partners, it continues see its cost to acquire a consumer (CAC) greatly reduced and its lifetime value (LTV) of the consumer increasing, all positive SaaS (software as a service) growth metrics.

Consumers accessing the Marble Platform suite of products has grown by 41 per cent so far in 2022 and, to date, it has over 37,000 consumers that have accessed MyMarble since it went live.

Karim Nanji, Marble's chief executive officer, commented: "Our recent successes show that Canadian businesses trust our products and services to help consumers them improve their financial health during an uncertain economic environment. These positive developments indicate how valuable Marble's product line is for the Canadian population, as it provides reliable tools which can be used by anyone looking at staying on top of financial wellness."

The company is also happy to announce that Jim Chan has taken on a dual role as the company's chief operating officer in addition to his existing role as chief technology officer. He will play a pivotal role in strategic planning for the future and collaborate with Marble's management team to establish new initiatives and implement plans for the operational infrastructure of systems and processes designed to accommodate the rapid growth objectives of the company. Mr. Chan's primary focus as COO is the implementation and execution of the company's strategic plan.

Marble's COO and CTO, Mr. Chan, commented: "I am very excited to be further playing a part in scaling the company and achieving our strategic vision as COO and CTO. The management team has already invested a considerable amount of time on improving internal efficiencies without compromising existing growth opportunities. This has led to process improvements, as well as cost-reduction plans, for future growth periods. It seems like Marble can do more than just focus its energy on physical product production -- it has set itself up so many different avenues for success."

Marble remains on track to implement several planned product and revenue growth enhancements for the balance of 2022. Its previous announced binding LOI (letter of intent) to acquire eBunch Data and Development Ltd. represents Marble's fourth strategic and accretive revenue acquisition that will integrate its proprietary digital marketing platform with Marble's open banking Inverite and MyMarble to offer the industry an agnostic solution in matching prequalified consumers with industry-specific products. The initial launch will focus on the lucrative auto industry, where eBunch has been successful. Marble anticipates closing this acquisition in Q3 later this summer.

The company has issued 100,000 stock options to employees under its stock option plan. The stock options carry a term of five years, with a strike price of nine cents and vest as to 25 per cent upon issuance and 25 per cent every 12, 24 and 36 months postissuance.

About Marble Financial Inc.

Marble's proprietary MyMarble platform utilizes the power of machine learning, data science and artificial intelligence in leveraging its proven data-driven strategies through technology solutions Connect, Inverite, MyMarble, Fast-Track, Learn and Boost to engage in and navigate a clear path toward financial well-being and a meaningful credit score. Since 2016, Marble is proud to have empowered thousands of marginalized consumers to a positive financial future and it continues to establish itself as a leader in financial wellness through the licensing of its proprietary products on the MyMarble platform and through Inverite.

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