Mr. Karim Nanji reports

MARBLE ANNOUNCES RESULTS FOR SECOND QUARTER ENDING JUNE 30, 2023

Marble Financial Inc. has released its financial results for the six-month period ended June 30, 2023. The company continued to focus on its revenue growth products in open banking and MyMarble platform's performance during this period. Marble is committed to revolutionizing the use of real-time financial data to empower businesses and consumers to make informed financial decisions, and fostering stronger relationships within the industry.

Key financial highlights for the six-month period ended June 30, 2023, include:

• During the three and six months ended June 30, 2023, the company saw increased growth in Inverite transaction volumes and consumer subscriptions in MyMarble.
• The company generated higher total revenues for the three- and six-month periods ending June 30, 2023, of $340,279 (June 30, 2022: $322,497) and $665,189 (June 30, 2022: $626,473), respectively, representing an increase of 6 per cent over the comparable periods.
• For the three- and six-month periods ending June 30, 2023, the company generated $225,604 (2022: $167,441) and $454,636 (2022: $316,744), respectively, of verification fees generated from Inverite. The company has focused on expanding its Inverite revenues and saw a substantial increase in Inverite transaction volumes in 2023 compared with 2022, which led to a 35-per-cent and 43.5-per-cent increase over the respective periods in 2022.
• For the three- and six-month periods ending June 30, 2023, the company generated marketing service fees of $50,530 (2022: nil) and $70,931 (2022: nil) related to Accumulate.ai business assets acquired in October, 2022.
• For the three- and six-month periods ending June 30, 2023, the company generated higher subscription fees of $28,119 (2022: $20,216) and $59,197 (2022: $36,916), respectively, from MyMarble and its boost loans, representing an increase of 39 per cent and 62 per cent over the respective periods in 2022.
• For the three- and six-month periods ending June 30, 2023, the company generated interest revenue from its loan portfolio of $35,995 (2022: $132,247) and $79,170 (2022: $270,164), respectively, due to the discontinuation of the fast track program and shrinking loan portfolio.
• For the three- and six-month periods ending June 30, 2023, the company saw operating expenses decrease by $101,690, or 9 per cent, to $1,072,378 and $288,034, or 12 per cent, to $2,194,223, respectively, as the company focused on streamlining operations.
• The company recorded a gain on settlement of debt of $2,940,648 (2022: nil), which resulted from the bond restructuring transactions that closed in April and May, 2023, that eliminated all of the company's bond debt and interest related thereto.
• The company recorded net income of $2,148,274 and $1,191,989 for the three- and six-month periods ending June 30, 2023, respectively, compared with net losses of $818,041 and $2,014,716 for the comparable periods in 2022.

Q2 2023 operational highlights

Marble continues to execute in its key business strategies in the North American underbanked industry by expanding its sales and marketing efforts for its open banking platform for alternative lenders, and both its MyMarble platform and from key new partnerships that brings unique products to help consumer become more financially served:

• Marble re-engaged Jason Wang as data analytics adviser.
• Inverite's AI (artificial intelligence) platform achieved record transactions in May, 2023, of over 123,500 transactions.
• Inverite has over 100 active alternative lenders on its platform.
• MyMarble has over 73,000 members registered on its platform.
• Marble executed a MOU (memorandum of understanding) with Grit Financial to launch Marble's AI solutions in the United States market and expand Grit's business operations in Canada, including earned waged access (EWA), business-as-a-service (BaaS) and Grit's PayWallet. Marble and Grit Financial subsequently entered into a definitive licensing agreement in August, 2023, on Marble's AI solution, point deduction technology (PDT).
• Marble achieved a financial data milestone of collecting over one billion data points from over four million Canadian consumers.

Karim Nanji, Marble's chief executive officer, comments: "We remain focused on bringing to market products that are revolutionizing the use of real-time financial data, and empowering businesses and consumers to make informed decisions. Our market expansion using innovative SaaS [software-as-a-service] solutions, driven by artificial intelligence and machine learning, enables us to deliver improved revenue while reducing costs. With our cutting-edge technology platforms and strategic partnerships, we remain committed to driving growth and success in the industry."

A comprehensive discussion of Marble's financial position and results of operations are provided in the condensed consolidated interim financial statements, and management's discussion and analysis (MD&A) for the six-month period ended June 30, 2023, and are filed on SEDAR+.

About Marble Financial Inc.

Marble Financial is a leading provider of software-as-a-service solutions that empower businesses to acquire and use real-time financial data to better transact with consumers, along with enabling smarter marketing ROI (return on investment) for partners seeking increased conversion rates to those consumers that require further monitoring, predictive financial recommendations and guidance to rehabilitate them to transact in the future. Utilizing Marble's proprietary and proven artificial intelligence data-driven technology platforms, Inverite, Accumulate.ai and MyMarble, businesses and consumers are empowered in real-time access to a 360 financial profile that includes credit and banking data. Marble leverages machine learning, artificial intelligence, predictive financial recommendations, risk scores and open-banking strategies to put the power of financial data into the hands of businesses and consumers, promoting more robust relationships and higher intent toward future engagements.

We seek Safe Harbor.