PineappleONE’s Advanced Analytics Set to Drive Significant Revenue Growth

TORONTO, August 14th, 2024 – Pineapple Financial Inc. (NYSE American: PAPL, “Pineapple”), a leading fintech, today announced the launch of a real-time insights module within its proprietary deal management system, PineappleONE. This advancement strategically positions Pineapple and its brokers to capitalize on the upcoming surge in mortgage renewals across Canada.

The introduction of this real-time insights module is expected to drive substantial growth in Pineapple’s gross revenue and net profit margin over the next 12 months. By equipping mortgage brokers with the tools to offer timely, data-driven solutions, PineappleONE is designed to enhance broker efficiency, reduce client churn, and capture a larger share of the mortgage market during this renewal wave. This ability to provide precise, personalized solutions at scale directly contributes to increased deal closures, higher client retention, and expanded market share, all of which are key drivers of Pineapple’s projected revenue growth.

PineappleONE leverages advanced analytics to automate and refine intricate mortgage calculations, including liability control, interest-only scenarios, and multi-mortgage comparisons. The system’s real-time data processing allows brokers to instantly generate precise, side-by-side financial scenarios that encompass complex factors such as compounding options, debt consolidation impacts, and comprehensive equity analysis. With these sophisticated tools, brokers can deliver highly personalized, professional reports that detail potential savings, cash flow enhancements, and optimized refinancing strategies. This depth of insight not only elevates the client experience but also drives higher broker productivity and conversion rates, ultimately leading to significant revenue growth for Pineapple.

Market Conditions and Strategic Positioning

Canada’s mortgage landscape is at a pivotal moment as mortgage rates begin to decrease, with the majority of existing mortgage borrowers—approximately 70% of the over $2 trillion in outstanding mortgage debt—facing imminent maturities. The market is on the brink of significant renewal activity, with 13% of mortgages set to renew in 2024, 23% in 2025, and 31% in 2026*. Despite rates remaining higher than pre-pandemic levels, many homeowners will encounter increased payment obligations. PineappleONE’s new real-time insights empower brokers to identify optimal refinancing and renewal strategies, enabling clients to effectively navigate these financial challenges.

“We believe as the Canadian mortgage market braces for the upcoming renewal spikes, PineappleONE’s enhanced capabilities provide a competitive edge,” said Kendall Marin, President and COO of Pineapple Financial. “The platform’s ability to deliver real-time insights positions Pineapple brokers as trusted advisors, enabling them to offer superior service during a period of heightened borrower demand.”

“Our commitment to innovation and technology is what we believe sets Pineapple apart in the Canadian mortgage industry,” said Shubha Dasgupta, CEO of Pineapple Financial. “The launch of this real-time insights module underscores our dedication to equipping our brokers with the best tools available, helping to ensure they can continue to deliver exceptional value to our clients and drive sustainable growth for our company.”

*SOURCE: https://www.theglobeandmail.com/investing/personal-finance/household-finances/article-forget-rate-relief-most-canadians-are-about-to-see-their-mortgage[MS3] /

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About Pineapple Financial Inc.

Pineapple Financial Inc. is an award-winning fintech and leading Canadian mortgage brokerage network, focusing on both the long-term success of agents and brokerages, as well as the overall experience of homeowners. With approximately 700 brokers within the network, Pineapple creates cutting-edge cloud-based tools and AI-driven systems to enable its brokers to help Canadians realize their dream of owning a home. Pineapple is active within the community and is proud to sponsor charities across Canada to improve the lives of fellow Canadians.

Forward-Looking Statements

Certain statements in this announcement are forward-looking statements, including, but not limited to, the Company's proposed Offering. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company's current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs, including the expectation that the Offering will be successfully completed. Investors can identify these forward-looking statements by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "is/are likely to," "potential," "continue" or other similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations that arise after the date hereof, except as may be required by law. These statements are subject to uncertainties and risks including, but not limited to, the uncertainties related to market conditions and the completion of the initial public offering on the anticipated terms or at all, and other factors discussed in the "Risk Factors" section of the registration statement filed with the SEC. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's registration statement and other filings with the SEC. Additional factors are discussed in the Company's filings with the SEC, which are available for review at www.sec.gov.

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Media Contact:

For media inquiries, please contact Alexandria Guo, Marketing Manager at Pineapple

Email: alexandria@gopineapple.com

Investor Relations Contact:

For investor relations inquiries, please contact Shubha Dasgupta, Chief Executive Officer, at Pineapple.

Email: shubha@gopineapple.com

Phone: +1 (416) 669-2046