North America Home Finance Inc. Financial Results for the Second Quarter Ended December 31, 2025

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Vancouver, British Columbia--(Newsfile Corp. - March 2, 2026) - North America Home Finance Inc. (CSE: NAHF) (CSE: NAHF.WT) ("NAHF" or the "Company"), a Canadian residential real estate finance and asset development company pioneering shared-equity homeownership solutions, today announced its financial results for the three and six months ended December 31, 2025.

Financial Highlights

• Revenues increased 47% and 138% in the three and six months ended December 31, 2025, respectively, compared to equivalent prior periods;

• Total assets increased 11.6% in the six months ended December 31, 2025, compared to June 30, 2025;

• Homes held increased by 14.8% since September 30, 2025, reflecting the progress of construction in both the Saanich Ridge Development and Revo;

• The Company successfully refinanced the $13.5 million mortgage from People's Trust, with a new $14.5 million loan from Peakhill Capital that also allowed the Company to repay 1 City Financial $1.5 million;

• Certain mortgages were extended subsequent to the period end, improving the Company's working capital position;

• The number of HomePlan agreements continues to grow as the program gains market recognition;

• The Company saw a decrease in the average annualized contractual recurring cash flow, a non-GAAP measure, from income-producing housing assets of 9.8% compared to September 30, 2025 due to vacancies in Kelowna, mix of units rented and tenant inducements.

• The company completed its IPO and became listed on the CSE. The Company's cost to complete the IPO and initiate the Housing Share exchange offering and set up the NAHF Real Estate Trust with HYUs over the last 3 years is approximately $1.3 million, which will provide the opportunity to grow and offer more HomePlan housing options going forward.

"The team has worked very hard over the last 20 months to complete the process of becoming a reporting issuer, which we see as the official beginning of our plan to build a shared equity housing corporation. We can now employ strategies for transacting with developers and landlords that we haven't had available to us in the past. In taking advantage of the tools we now have, we intend to establish ourselves as a respected organization in both the real estate industry and the capital markets," said CEO, George Lawton.

Operating Results

Throughout the period we maintained a conservative, focused approach to strengthening our financial position and earnings capability, by continuing work to increase our income producing housing asset base, financing the development of investment property and investing in wholesale development housing acquisitions.

Revenue in the three months ended December 31, 2025, consisted of rental income and sub-lease income totalling $0.76 million, which was $0.36 million higher than December 31, 2024. In the three months ended December 31, 2024, the Company also earned acquisition and development fees of $0.12 million. Effective January 1, 2025, the Company entered into a management agreement (the "Management Agreement") with NAHF Equity Management Ltd. (the "Manager"). Pursuant to the Management Agreement, acquisition, development and other fees will be earned by the Manager, which reduced acquisition and development management fees to nil in the three and six months ended December 31, 2025.

For the three months ended December 31, 2025, rental income increased 98% over the three months ended December 31, 2024, as the Company had finalized Phase 1 of the Saanich Ridge Development rental community, completing and renting 26 homes by the end of fiscal 2025. The Company also acquired 80 units and rented a portion thereof in the Five Crossings development by the end of fiscal 2025. Sub-lease income associated with the land related to homes sold in prior years at Saanich Ridge and an additional 3 homes sold in calendar 2025 was also earned by the Company.

Revenue in the six months ended December 31, 2025, consisted of one home sale, rental income and sub-lease income totalling $2.3 million. Home sales increased from 0% of revenue in the six months ended December 31, 2024, to 36% in the six months ended December 31, 2025. Rental income increased 120% in the six months ended December 31, 2025, over the comparable period in 2024, as the Company had finalized Phase 1 of the Saanich Ridge Development rental community, completing and renting 26 homes by the end of fiscal 2025. The Company also acquired 80 units and rented a portion thereof in the Five Crossings development by the end of fiscal 2025. Sub-lease income associated with the land related to homes sold in prior years at Saanich Ridge and an additional 3 homes sold in calendar 2025 was also earned by the Company.

Net losses of $1.7 and $3.2 million for the three and six months ended December 31, 2025, were $1.2 and $2.1 million higher than comparable periods, due to additional HOA fees, insurance costs, repairs, utilities, property taxes and mortgage interest incurred by the Company to generate higher rental revenue and build and acquire more income producing assets. Depreciation also increased in association with increased rental income producing properties.

Total assets increased $12.35 million to $119.5 million in the six months ended December 31, 2025, as the Company expanded its income producing housing asset base by continuing to build the next two Saanich Ridge rental communities. Additionally, the Company increased deposits for condominiums in alignment with its Forward (wholesale) acquisition of to-be-built housing assets strategy.

Non-current financial liabilities decreased $4.1 million to $76.5 million in the six months ended December 31, 2025, primarily as two mortgages were reclassified as current in accordance with payment terms requiring payment within the next twelve months. Subsequent to December 31, 2025, the first mortgage with Peakhill Capital of $14.5 million to refinance the prior mortgage from People's Trust was amended to a term loan with a maturity date of June 1, 2027. Additionally, subsequent to December 31, 2025, the mortgage maturity date of the 2021 second mortgage with 1 City on the Saanich Ridge Property was extended to September 1, 2027, and the mortgage maturity date of the 2022 mortgage with 1 City on the Saanich Ridge Property was extended to September 1, 2027.

Investment Properties

The Company's properties as at December 31, 2025, consisted of the Saanich Ridge Development property, the Edmonton property, the Saanich Ridge rental communities and the Five Crossings Development.

The Company carries its investment properties at amortized cost with the appraised value of each property disclosed in the Note 6 to the financial statements.

Investment properties increased 18.7% in the six months ended December 31, 2025 with the continued development of the Company's Saanich Ridge development.

Additional Information

The information in this news release is a summary only and should be read in conjunction with NAHF's unaudited condensed consolidated interim financial statements and management's discussion and analysis for the three and six months ended December 30, 2025, copies of which are available under NAHF's profile on SEDAR+ at www.sedarplus.ca.

Additional information relating to NAHF and other public filings, is available on SEDAR+ at www.sedarplus.ca.

About North America Home Finance Inc.

North America Home Finance Inc. is a Canadian residential real estate finance and asset development company focused on expanding housing access through shared-equity and next-generation ownership pathways. The Company develops, acquires and manages income-producing residential housing communities in Canada.

Non-GAAP Measures

The Company's financial statements are prepared in accordance with IFRS Accounting Standards. Throughout this news release, we refer to terms known as non-GAAP financial measures and supplementary financial measures that are not specifically defined in IFRS Accounting Standards. These non-GAAP financial measures and supplementary financial measures may not be comparable to similar measures presented by other companies.

We believe that these non-GAAP financial measures and supplementary financial measures are useful in assisting investors in understanding components of our financial results. The non-GAAP financial measures and supplementary financial measures that we refer to in this MD&A are defined below.

Calculations and definitions

Average annualized contractual recurring cash flow from income-producing housing assets

Average Annualized contractual recurring cash flow from income-producing housing assets is a supplementary financial measure that indicates recurring cash inflows for the Company, including rental income and sub-lease income based on a run rate as of a particular date. Specifically, average annualized contractual recurring cash flow is calculated as the sum of (i) the average annual rental rate per square foot for occupied units as of the applicable period end date multiplied by the aggregate square footage rented as of such date, plus (ii) the average monthly sub-lease per unit as of the period end date annualized and multiplied by the number of units subject to a sub-lease as of such date. Average annualized contractual recurring cash flow may not be comparable to similar measures presented by other companies.

At December 31, 2025, 15% of the units in the Kelowna property were vacant with no upcoming tenants, reducing the square feet rented and its annualized contractual recurring cash flow from rental income producing housing assets by $0.35 million. The Company is actively marketing these units but expects a certain level of vacancy at any point in time. Additionally, the average rent per square foot decreased as a result of a change in mix of units being rented as well as incentives to new tenants to remain competitive.

Forward-Looking Information

This news release contains forward-looking information within the meaning of applicable securities legislation. In some cases, forward-looking information can be identified by words or phrases such as "may", "might", "will", "should", "could", "expect", "anticipate", "continue", "plan", "seek", "estimate", "indicate", "believe", "intend", "project", "potential", "forecast", "budget", "target", "goal", "objective", "schedule", "is/are likely to" or the negative of these terms and other similar expressions intended to identify forward-looking information. The Company has based the forward-looking information contained herein on its current expectations and projections about future events and financial trends that it believes might affect its financial condition, results of operations, business strategy and financial needs. The forward-looking information contained herein includes, among other things, statements relating to: the number of HomePlan agreements continues to grow as the program gains market recognition; the continued development of the Saanich Ridge development; the planned business activities and objectives of the Company and the strategy by which it expects to achieve these objectives.

Such forward-looking information is based on a number of material factors and assumptions, including, but not limited to, expectations and assumptions relating to: the Company will realize the anticipated benefits of its IPO and exchange offering; the Company will be successful in achieving its business objectives; results of planned development activities; the price of housing assets; the cost of identification, acquisition and development activities; that as the business continues to develop, there will be no changes that would materially adversely affect the business; that financing will be available if and when needed and on reasonable terms; that third-parties, supplies and governmental and other approvals required to conduct the business will be available on reasonable terms and in a timely manner; that there will be no revocation of adverse amendments to or delays in granting government approvals; that general business, economic, competitive, social, and political conditions will not change in a material adverse manner; and the assumptions underlying the Company's business model; other estimates, assumptions, and forecasts will be accurate. While the Company considers these material factors and assumptions to be reasonable based on information currently available to it, they may prove to be incorrect.

Forward-looking information involves known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements and forward-looking information. Such risks include but are not limited to: HomePlan products are new and may be subject to regulation; HomePlan tenants may not qualify for mortgage financing; and the Company may not achieve some or all of its business objectives. Given these uncertainties, readers are cautioned that forward-looking information included in this news release is not a guarantee of future performance, and such forward-looking information should not be unduly relied upon. More information about the risks and uncertainties affecting NAHF's business can be found in its management's discussion and analysis for the three and six months ended December 30, 2025, a copy of which is available under NAHF's profile on SEDAR+ at www.sedarplus.ca.

Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information.

The forward-looking information contained in this news release is made as of the date hereof and, unless so required by applicable law, the Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise. The forward-looking information contained in this news release is expressly qualified by this cautionary statement.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/286018

Source: North America Home Finance Inc.

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