Mr. Mehdi Moghareh reports

OCAL FINANCIAL SURPASSES 1,250 FUNDED VEHICLE DEALS

Ocal Financial Inc. has financed more than 1,250 vehicle deals to date, a milestone that shows steady, repeat demand for its remote, finance-first model across British Columbia and Alberta, and a base the company intends to build on as it enters new markets.

More than 1,250 funded deals is a meaningful marker for a company of Ocal's stage. It is evidence that the model works at real scale in the market, not just in a pilot, and that customers are willing to buy and finance a vehicle entirely on-line when the process is built around them. Each of those deals also carried financing and, in most cases, a protection product, which is where the company earns its margin.

The milestone comes alongside real revenue growth. As set out in the company's financial disclosure, Ocal generated approximately $6.48-million in revenue in fiscal 2025 (the year ended Aug. 31, 2025), up from approximately $5.8-million in fiscal 2024. That growth was achieved on an asset-light basis, without carrying standing inventory, which speaks to the efficiency of the model. Readers should refer to Ocal's financial statements and management's discussion and analysis on SEDAR+ for the complete financial picture.

A few operating figures show how the business runs day to day. Based on management information for the trailing 12 months (unaudited): about 98 per cent of financed deals include a warranty or protection product; the median time from lead to signed is around seven days, and from signed to funded around three to four days; and repeat and referral customers make up roughly 17.6 per cent of financed deals. These are internal operating metrics, they are unaudited and they should be read together with the company's filed financial statements rather than on their own.

For investors, these figures tell a consistent story. A high attachment rate means each funded deal carries more than just a vehicle sale, which lifts the revenue earned per transaction. Short cycle times mean capital and effort turn over quickly, so the same team can handle more deals in a given period. And a repeat-and-referral rate near one in six suggests customers leave satisfied enough to come back or send someone else, which is the hardest kind of growth to buy and the cheapest kind to earn. Together they point to a model that is not only working, but working efficiently.

It is worth noting what this milestone was built on. These deals were financed without a single dealership lot, across two provinces, by a team running on the company's own technology. The efficiency is not a projection; it is visible in the numbers, from the speed of the cycle to the share of customers who return. That is the difference between a business plan and a track record.

For a public-company investor, an operating history of this kind lowers a particular risk: the question of whether the model works at all. That question is now largely answered. What remains is a question of scale, whether the same approach can be carried into larger markets and that is exactly what the company's expansion plan is built to test, one market at a time.

Reaching this milestone in two provinces also frames the opportunity ahead. If the model can finance more than 1,250 deals in British Columbia and Alberta, the same approach applied to larger markets, beginning with Ontario, points to a materially larger opportunity, provided the company obtains the required licences and executes on its plan.

Ocal intends to build on this base as it enters the Ontario market and continues to invest in automation and its technology, with the goal of increasing financed-deal volume while keeping its unit economics disciplined.

"More than 1,250 funded deals is proof the model works in the real world, not just on a slide," said Mehdi Moghareh, chief executive officer of Ocal. "And the customers who come back or send us a friend tell us we are earning trust, which is the hardest thing to earn in this business."

"Our job now is to turn that track record into steady, measurable growth as a public company," said Matthew Friesen, chairman of Ocal. "The base is real. The opportunity is to scale it responsibly and that is exactly what we intend to do."

About Ocal Financial Inc.

Ocal Financial is an asset-light, artificial-intelligence-native virtual automotive dealership and vehicle-finance platform. Operating remotely and licensed in British Columbia and Alberta, Ocal moves customers from application to approval, vehicle matching, digital contracting and delivery in a single workflow. Rather than carrying owned inventory, Ocal sources each vehicle only after a customer is approved, drawing on the Openlane auction network and select partners. Ocal earns revenue from vehicle sales and related finance and protection products, and does not hold consumer loans or assume credit-default risk. Its technology stack, which includes workflow orchestration, a lender-routing credit-intelligence system, voice AI and a centralized business-intelligence system, is built specifically for automotive transactions.

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