CANACCORD GENUITY GROUP INC. REPORTS THIRD QUARTER FISCAL 2026 RESULTS

Excluding significant items, quarterly earnings per common share of $0.36 ⁽¹⁾

Update regarding media speculation involving UK wealth management business; no assurance of transaction at valuations implied by market and transaction activity

TORONTO, Feb. 13, 2026 /CNW/ – Canaccord Genuity Group Inc. (Canaccord Genuity Group, the Company) (TSX:CF) today announced its financial results for the third fiscal quarter and nine-months ended December 31, 2025.

“Results for our third fiscal quarter reflected strong tailwinds for investment banking activity, particularly in Australia, where metals and mining markets were active amid record gold prices. This environment also contributed to higher transaction-based revenue in the Company’s Canadian and Australian wealth management operations, supporting additional growth in client assets,” said Dan Daviau, Chairman and Chief Executive Officer of Canaccord Genuity Group Inc. “During the quarter, we welcomed new colleagues in Australia following the completion of our acquisition of Wilsons Advisory, and subsequently, we completed our acquisition of CRC-IB, enhancing our capabilities in the renewable energy sector.”  

Third fiscal quarter and nine-months fiscal year-to-date highlights (adjusted):
(All dollar amounts are stated in thousands of Canadian dollars and on an adjusted basis excluding significant items⁽¹⁾ unless otherwise indicated)

• Third quarter revenue of $616.1 million, an increase of 36.5% over the same period in the prior fiscal year and the second highest quarterly revenue on record
• Nine-month fiscal year-to-date revenue of $1.6 billion, an increase of 21.9% compared to the first nine months of fiscal 2025
• Global capital markets revenue of $300.8 million improved 42.8% year-over-year, primarily attributable to higher investment banking and commissions & fees revenue. Fiscal year-to-date revenue in this division improved by 21.9% year-over-year to $753.7 million
• Capital markets investment banking revenue increased 170.0% year-over-year to $154.3 million, with 59.2% of the increase driven by the Australian business, where metals and mining new issues accounted for the majority of capital-raising activity
• Global wealth management operations earned record quarterly revenue of $304.3 million and nine-month year-to-date revenue of $816.6 million, year-over-year improvements of 30.4% and 22.6% respectively. Third quarter growth in the Australian wealth management business reflects contributions from the acquisition of Wilsons Advisory
• Total client assets in our global wealth management division increased by 25.9% year-over-year to $144.8 billion. Growth reflects year-over-year increases of 24.7% in Canada, 15.6% in the UK & Crown Dependencies, and 114.0% in Australia
• Acquisition of Wilsons Advisory contributed approximately $6.7 billion of client assets⁽¹⁾ and $16.1 million of third quarter revenue in the Australian wealth management business
• Third quarter net income before taxes of $80.5 million, an increase of 102.5% or $40.8 million year-over-year
• Canaccord Genuity Group’s global wealth management division contributed net income before taxes of $57.1 million in the third quarter of fiscal 2026, a year-over-year increase of 57.5%
• Canaccord Genuity Group’s global capital markets division contributed third quarter net income before taxes of $51.5 million, an improvement of 248.2% or $36.7 million compared to the same period of last year
• Nine-month year-to-date net income before taxes of $173.7 million, an increase of 48.6% or $56.8 million compared to the first nine months of fiscal 2025
• Diluted earnings per common share for the third fiscal quarter of $0.36 per share, an increase of 111.8% from the same period in the prior year
• Diluted earnings per share for the first nine months of fiscal 2026 amounted to $0.78, an increase of 59.2% compared to the same period in the prior fiscal year
• On an IFRS basis, revenue of $637.9 million in Q3/26 increased 41.4% year-over-year. Net income before taxes for the third quarter of $64.2 million compared to pre-tax loss of $5.2 million in Q3/25. Diluted earnings per common share of $0.18 compared to a diluted loss per common share of $0.26 in Q3/25
• On an IFRS basis, for the nine months ended December 31, 2025, revenue was $1.6 billion, an increase of 24.0% compared to the same period in the prior fiscal year. Year-to-date net loss before taxes was $106.2 million compared to net income before taxes of $35.2 million for the first nine months of fiscal 2025. Diluted loss per common share of $2.17 compared to a diluted loss per common share of $0.29 over the comparative period in the prior year
• Third quarter common share dividend of $0.085 per share

Update on media speculation regarding UK wealth management operations

On October 17, 2025, at the request of its regulators, the Company issued a statement in response to media coverage speculating about a potential transaction involving its U.K. Wealth Management business (“CGWM UK”), which contributed to increased volatility in the Company’s share price. The Company continues to assess options for this business in the context of, among other things, the rights of its strategic and financial minority partner and that partner’s investment horizon as noted in prior Company disclosures, prevailing market and execution conditions, and other relevant industry factors. At this time, there can be no assurance that any discussions will result in a transaction, or that any such transaction would occur at valuations implied by recent market and transaction activity.

Core business performance highlights:

Canaccord Genuity Wealth Management

The Company’s combined global wealth management operations earned record quarterly revenue of $304.3 million for the third fiscal quarter, a year-over-year increase of 30.4%.This increase was largely attributable to higher quarterly commissions & fees revenue of $239.9 million, which increased by 31.5% year-over-year, reflecting higher contributions from all geographies, in addition to higher investment banking revenue in the Canadian and Australian operations stemming from increased retail participation in new issues. Enhanced performance in the Australian operations was partially attributable to the acquisition of Wilsons Advisory, which was completed on October 1, 2025. On a year-to-date basis, consolidated wealth management revenue amounted to $816.6 million, an increase of 22.6% compared to the first nine months of the prior fiscal year. Net income before taxes excluding significant items⁽¹⁾ increased by 57.5% year-over-year to $57.1 million during Q3/26 and by 39.3% year-over-year to $150.0 million for the nine-month period ended December 31, 2025, representing new records for both measurement periods.

• Wealth management operations in the UK & Crown Dependencies generated third quarter revenue of $130.4 million, an increase of 12.6% compared to the same period last year and representing the ninth consecutive quarter of record revenue in this business. Commissions & fee revenue improved by 17.5% year-over-year to $106.7 million. Net income before taxes excluding significant items⁽¹⁾ reached $27.2 million in Q3/26, up 6.9% year-over-year. For the nine months ended December 31, 2025, revenue increased by 16.0% to $385.4 million, and net income before taxes excluding significant items⁽¹⁾ increased by 19.0% year-over-year to $87.3 million, representing new records for this period. Normalized EBITDA⁽¹⁾⁽²⁾, a commonly used operating metric for this business, was £22.9 million for the three months ended December 31, 2025 and £66.4 million for the first nine months of fiscal 2026, increases of 14.1% and 15.2% compared to the same periods in the prior year.
• Canaccord Genuity Wealth Management (North America) generated record quarterly revenue of $124.1 million, a year-over-year increase of 28.7% mainly driven by higher commissions & fees and investment banking revenue, which increased by 25.7% and 134.6% respectively compared to the same period of the prior year. Excluding significant items⁽¹⁾, net income before taxes was $23.0 million in Q3/26, an increase of 154.5% compared to Q3/25. For the nine months ended December 31, 2025, revenue increased by 20.3% to $330.1 million, and net income before taxes excluding significant items⁽¹⁾ was $50.7 million, an increase of 67.1% year-over-year. Normalized EBITDA⁽¹⁾⁽²⁾ in this business was $29.7 million for the three months ended December 31, 2025 and $70.1 million for the first nine months of fiscal 2026, increases of 95.7% and 41.5% respectively.
• Wealth management operations in Australia generated record quarterly revenue of $49.9 million reflecting an increase of 134.9% compared to the third quarter of last year. Of this amount, $16.1 million, or 32.3% of third quarter revenue was attributable to the acquisition of Wilsons Advisory. Commissions & fees revenue increased by 126.6% year-over-year to $40.6 million and investment banking revenue increased by 198.0% to $8.9 million. Excluding significant items⁽¹⁾, net income before taxes in this business amounted to $6.9 million in Q3/26, up from $1.8 million in Q3/25. For the nine months ended December 31, 2025, revenue increased by 70.3% to $101.2 million, and net income before taxes excluding significant items⁽¹⁾ increased by 201.8% year-over-year to $12.0 million.

Total client assets in the Company’s global wealth management division at the end of the third fiscal quarter amounted to a record $144.8 billion, an increase of $29.8 billion or 25.9% from Q3/25.

• Client assets⁽¹⁾ in the UK & Crown Dependencies reached a new record of $74.6 billion (£40.4 billion) as at December 31, 2025, a year-over-year increase of 15.6% (an increase of 12.7% in local currency) primarily attributable to market growth, net new assets from acquisitions and foreign exchange movement. On a sequential basis, client assets⁽¹⁾ increased by 0.8% from $74.0 billion (£39.5 billion) from the previous quarter.

Client assets⁽¹⁾ in North America reached a new record of $52.8 billion as at December 31, 2025, an increase of 24.7% from $42.3 billion from December 31, 2024 and an increase of 6.8% from September 30, 2025. The year-over-year increase was attributable to increases in market values, positive net flows and recruitment activity.

• Client assets⁽¹⁾ in Australia reached a new record of $17.4 billion (AUD 19.0 billion) as at December 31, 2025, an increase of 114.0% from the third quarter of fiscal 2025 and an increase of 71.4% from $10.1 billion (AUD 11.0 billion) at September 30, 2025. Approximately $6.7 billion of the increase was due to the acquisition of Wilsons Advisory. In addition, client assets⁽¹⁾ totalling $25.8 billion (AUD 28.2 billion) are also held on record in less active and transactional accounts through our Australian platform.

Canaccord Genuity Capital Markets

On a consolidated basis, Canaccord Genuity Capital Markets earned revenue excluding significant items⁽¹⁾ of $300.8 million for the third fiscal quarter, a year-over-year increase of 42.8%, primarily due to stronger contributions from investment banking activities, in addition to higher commissions & fees revenue. During the third quarter, the Company recognized a $19.9 million net gain on the disposal of the US wholesale market making business, which was excluded as a significant item on an adjusted basis⁽¹⁾. For the nine months ended December 31, 2025, revenue excluding significant items⁽¹⁾ increased by 21.9% to $753.7 million, reflecting increases in investment banking and commissions & fees revenue.

Investment banking revenue of $154.3 million improved by 170.0% compared …

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