MCAN FINANCIAL GROUP REPORTS THIRD QUARTER RESULTS AND DECLARES 43 CENTS CASH DIVIDEND

Canada NewsWire

TORONTO, Oct. 29, 2026

AUM and net interest income continue to grow

TORONTO , Oct. 29, 2026 /CNW/ -- MCAN Mortgage Corporation  d/b/a MCAN Financial Group ("MCAN", the "Company" or "we") (TSX: MKP ), a leading Canadian mortgage investment corporation, today announced its financial results for the three and nine months ended September 30, 2026. For the current quarter, results were positively impacted by higher net interest income from growth in our lending business, including managing our funding costs, partially offset by higher unrealized losses on our securities. Our results for the year so far also reflect higher net interest income as well as higher income from MCAP and higher net gains on our securities.

Q3 2026 highlights compared to Q3 2025

YTD 2026 highlights compared to YTD 2025

"Strong growth in our assets under management reflects the continued execution of our strategy. Our business continues to perform well in all our main product lines, despite uncertainty in the broader economic environment, supported by strong mortgage originations and renewals, disciplined pricing and hedging strategies, as well as our strategic partnership with MCAP. We believe we are well-reserved in our allowance for credit losses and our sound underwriting practices ensure our credit quality remains resilient," said Derek Sutherland, CEO of MCAN. "The recent launch of an additional uninsured residential mortgage securitization program with a major Canadian bank further strengthens our funding diversification and capital optimization strategy. Looking ahead, we remain focused on delivering profitable growth and improving shareholder returns while investing in the infrastructure needed to support the continued scale of our business and increase our operational efficiency."

Total assets under management 1 grew to $9.4 billion, up 21% from the beginning of the year

Provisions for credit losses reflect current uncertain market outlook; however, credit quality continues to remain resilient

MCAN quarterly dividend declared

Consolidated Financial Statements

Consolidated balance sheets
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Consolidated statements of income
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Consolidated statements of comprehensive income (unaudited)
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Consolidated statements of changes in shareholders' equity (unaudited)
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Consolidated statements of cash flows (unaudited)
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Further Information

See our complete 2026 Third Quarter Report filed on the System for Electronic Document Analysis and Retrieval ("SEDAR+") at www.sedarplus.ca  and on the Company's website at www.mcanfinancial.com .

For our Outlook, refer to the "Outlook" section of the 2026 Third Quarter Report.

MCAN is a public company listed on the Toronto Stock Exchange under the symbol MKP  and is a reporting issuer in all provinces and territories in Canada. MCAN also qualifies as a Mortgage Investment Corporation ("MIC") under the Income Tax Act (Canada). MCAN is the largest MIC in Canada and the only federally regulated MIC that issues term deposits eligible for Canada Deposit Insurance Corporation deposit insurance.

MCAN's primary objective is to generate a reliable stream of income by investing in a diversified portfolio of Canadian mortgages, including residential mortgages, residential construction, non-residential construction, and commercial loans, as well as other types of securities, loans, and real estate investments.

MCAN is Reimagining Opportunity to Drive Growth for Canadian Communities.

Website:  www.mcanfinancial.com

A Caution About Forward-Looking Information and Statements

This news release contains forward-looking information within the meaning of applicable Canadian securities laws.  All information contained in this news release, other than statements of current and historical fact, is forward-looking information. All of the forward-looking information in this news release is qualified by this cautionary note. Often, but not always, forward-looking information can be identified by the use of words such as "may," "believe," "will," "anticipate," "expect," "planned," "estimate," "project," "future," and variations of these or similar words or other expressions that are predictions of, or indicate, future events and trends and that do not relate to historical matters. Forward-looking information in this news release includes, among others, statements and assumptions with respect to:

Forward-looking information is not, and cannot be, a guarantee of future results or events. Forward-looking information reflects management's current beliefs and is based on information currently available to management. Forward-looking information is based on, among other things, opinions, assumptions, estimates and analyses that, while considered reasonable by us at the date the forward-looking information is provided, inherently are subject to significant risks, uncertainties, contingencies and other factors that may cause actual results and events to be materially different from those expressed or implied by the forward-looking information.

The material factors or assumptions that we identified and were applied by us in drawing conclusions or making forecasts or projections set out in the forward-looking information, include, but are not limited to:

External geopolitical conflicts and government and Bank of Canada economic policy have resulted in uncertainty relating to the Company's internal expectations, estimates, projections, assumptions and beliefs, including with respect to the Canadian economy, employment conditions, interest rates, supply chain issues, international trade, inflation, levels of housing activity and household debt service levels. There can be no assurance that such expectations, estimates, projections, assumptions and beliefs will continue to be valid. The impacts that any further or escalating geopolitical conflicts will have on our business is uncertain and difficult to predict.

Reliance should not be placed on forward-looking information because it involves known and unknown risks, uncertainties and other factors, which may cause actual results to differ materially from anticipated future results expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from those set forth in the forward-looking information include, but are not limited to, the risk that any of the above opinions, estimates or assumptions are inaccurate and the other risks and uncertainties referred to in our Annual Information Form for the year ended December 31, 2025, our MD&A and our other public filings with the applicable Canadian regulatory authorities.

Subject to applicable securities law requirements, we undertake no obligation to publicly update or revise any forward-looking information after the date of this news release whether as a result of new information, future events or otherwise or to explain any material difference between subsequent actual events and any forward-looking information.  However, any further disclosures made on related subjects in subsequent reports should be consulted.

Non-GAAP and Other Financial Measures

This news release references a number of non-generally accepted accounting principles ("non-GAAP") and other financial measures and ratios to assess our performance. These measures are not calculated in accordance with International Financial Reporting Standards ("IFRS"), are not defined by IFRS and do not have standardized meanings that would ensure consistency and comparability between companies using these measures. These metrics are considered to be non-GAAP and other financial measures and are incorporated by reference and defined in the "Non-GAAP and Other Financial Measures" section of our 2026 Third Quarter Management's Discussion and Analysis of Operations available on SEDAR+ at www.sedarplus.ca .

SOURCE MCAN Mortgage Corporation