EQB Announces Election of Directors and Appoints New Board Chair

TORONTO, May 17, 2023 /CNW/ - EQB Inc. (TSX: EQB) (TSX: EQB.PR.C) announced today the election of the 11 nominees listed in the management information circular dated April 11, 2023 as directors of EQB at the annual meeting of shareholders held earlier today. The results of the proxy vote are set out below.

Nominee	Votes For	% For	Votes Withheld	% Withheld
Michael Emory	25,195,002	99.80	51,644	0.20
Susan Ericksen	25,217,723	99.89	28,923	0.11
Michael Hanley	25,065,650	99.28	180,996	0.72
Kishore Kapoor	24,914,190	98.68	332,456	1.32
Yongah Kim	25,208,107	99.85	38,539	0.15
Marcos Lopez	25,227,788	99.93	18,858	0.07
Andrew Moor	25,232,019	99.94	14,627	0.06
Rowan Saunders	24,980,640	98.95	266,006	1.05
Carolyn Schuetz	25,215,408	99.88	31,238	0.12
Vincenza Sera	24,964,310	98.88	282,336	1.12
Michael Stramaglia	25,223,528	99.91	23,118	0.09

Following the meeting, the Board appointed Michael Hanley as Chair. He succeeds David LeGresley, who retired after reaching his 12-year term limit.

Mr. Hanley has extensive leadership and governance experience and with his stewardship, the Board is confident that EQB will continue to advance its best practice environmental, social and governance approach.

The detailed results on all matters voted on at the annual meeting of shareholders will be available on www.equitablebank.ca and through Canadian securities regulators at www.sedar.com.

About Equitable Bank

Equitable Bank—Canada's Challenger Bank™—is a wholly owned subsidiary of EQB Inc., which trades on the Toronto Stock Exchange (TSX: EQB) (TSX: EQB.PR.C) and serves more than 515,000 customers. Equitable Bank's wholly owned subsidiary Concentra Bank supports Canadian credit unions and their more than 6 million members. With nearly $105 billion in combined assets under management and administration, Equitable Bank has a clear mandate to drive change in Canadian banking to enrich people's lives. Founded more than 50 years ago, Canada's Challenger Bank™ provides diversified personal and commercial banking, and through its digital EQ Bank platform (eqbank.ca) has been named the best bank in Canada on the Forbes World's Best Banks 2021, 2022 and 2023 lists. Please visit eqbank.investorroom.com for more details.

SOURCE EQB Inc.

Investor contact: Richard Gill, Vice President, Corporate Development & Investor Relations, [email protected]; Media contact: Deborah Chatterton, Director, Communications, [email protected]