Definity Financial Income Statement

Financials in millions CAD. Fiscal year is January - December.

Millions CAD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Premiums & Annuity Revenue	4,242	3,867	3,543	3,251	2,834
Total Interest & Dividend Income	84	46.7	40.4	224.2	96.8
Gain (Loss) on Sale of Investments	154.4	214.4	151.8	-446.1	-20.8
Other Revenue	229.4	186	127.4	19.9	52.9
Total Revenue	4,710	4,315	3,862	3,049	2,963
Revenue Growth (YoY)	9.16%	11.71%	26.66%	2.93%	14.72%
Policy Benefits	2,496	2,325	3,169	2,849	1,722
Policy Acquisition & Underwriting Costs	685.8	612.3	-	-	426.5
Selling, General & Administrative	-	-	-	-	392.4
Other Operating Expenses	932.8	847.5	258.1	188.8	146.9
Reinsurance Income or Expense	72.7	61.8	50.3	36.5	-
Total Operating Expenses	4,042	3,723	3,377	3,001	2,687
Operating Income	667.7	591.5	485.7	47.9	275.2
Interest Expense	-22.9	-9.6	-5.3	-0.6	-
Earnings From Equity Investments	3.6	-1.7	-0.1	-0.5	6
Currency Exchange Gain (Loss)	-27.8	-	-	-	-
EBT Excluding Unusual Items	620.6	580.2	480.3	46.8	281.2
Merger & Restructuring Charges	-48.7	-1.5	-13.1	-	-
Gain (Loss) on Sale of Assets	5.9	-	-	-	-
Other Unusual Items	-	-	-	67	-
Pretax Income	577.8	578.7	467.2	113.8	281.2
Income Tax Expense	151.8	143.8	112.7	2.3	68
Earnings From Continuing Ops.	426	434.9	354.5	111.5	213.2
Minority Interest in Earnings	-7.8	-4.5	-4.4	-0.6	-
Net Income	418.2	430.4	350.1	110.9	213.2
Net Income to Common	418.2	430.4	350.1	110.9	213.2
Net Income Growth	-2.83%	22.94%	215.69%	-47.98%	38.53%
Shares Outstanding (Basic)	117	115	115	115	105
Shares Outstanding (Diluted)	119	117	117	117	105
Shares Change (YoY)	2.23%	-0.09%	-0.26%	10.91%	1.35%
EPS (Basic)	3.57	3.75	3.04	0.96	2.03
EPS (Diluted)	3.51	3.69	3.00	0.95	2.02
EPS Growth	-4.88%	23.00%	215.79%	-52.97%	36.50%
Free Cash Flow	413	231.6	264.3	215	655.2
Free Cash Flow Per Share	3.47	1.99	2.27	1.84	6.22
Dividend Per Share	0.750	0.640	0.550	0.500	0.050
Dividend Growth	17.19%	16.36%	10.00%	900.00%	-
Operating Margin	14.18%	13.71%	12.58%	1.57%	9.29%
Profit Margin	8.88%	9.98%	9.06%	3.64%	7.20%
Free Cash Flow Margin	8.77%	5.37%	6.84%	7.05%	22.12%
EBITDA	713.7	632.3	516	120.9	280.9
EBITDA Margin	15.15%	14.66%	13.36%	3.96%	9.48%
D&A For EBITDA	46	40.8	30.3	73	5.7
EBIT	667.7	591.5	485.7	47.9	275.2
EBIT Margin	14.18%	13.71%	12.58%	1.57%	9.29%
Effective Tax Rate	26.27%	24.85%	24.12%	2.02%	24.18%

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Insurance template. Financial Sources.