OCAL Financial Surpasses 1,250 Funded Vehicle Deals

Vancouver, British Columbia--(Newsfile Corp. - October 6, 2026) - OCAL Financial Inc. (TSXV: OCAL) (FSE: JC3) ("OCAL" or the "Company") today announced that it has funded more than 1,250 vehicle deals to date, a milestone that shows steady, repeat demand for its remote, finance-first model across British Columbia and Alberta, and a base the Company intends to build on as it enters new markets.

More than 1,250 funded deals is a meaningful marker for a company of OCAL's stage. It is evidence that the model works at real scale in the market, not just in a pilot, and that customers are willing to buy and finance a vehicle entirely online when the process is built around them. Each of those deals also carried financing and, in most cases, a protection product, which is where the Company earns its margin.

The milestone comes alongside real revenue growth. As set out in the Company's financial disclosure, OCAL generated approximately $6.48 million in revenue in fiscal 2025 (the year ended August 31, 2025), up from approximately $5.8 million in fiscal 2024. That growth was achieved on an asset-light basis, without carrying standing inventory, which speaks to the efficiency of the model. Readers should refer to OCAL's financial statements and management's discussion and analysis on SEDAR+ for the complete financial picture.

A few operating figures show how the business runs day to day. Based on management information for the trailing twelve months (unaudited): about 98% of funded deals include a warranty or protection product; the median time from lead to signed is around seven days, and from signed to funded around three to four days; and repeat and referral customers make up roughly 17.6% of funded deals. These are internal operating metrics, they are unaudited, and they should be read together with the Company's filed financial statements rather than on their own.

For investors, these figures tell a consistent story. A high attachment rate means each funded deal carries more than just a vehicle sale, which lifts the revenue earned per transaction. Short cycle times mean capital and effort turn over quickly, so the same team can handle more deals in a given period. And a repeat-and-referral rate near one in six suggests customers leave satisfied enough to come back or send someone else, which is the hardest kind of growth to buy and the cheapest kind to earn. Together they point to a model that is not only working, but working efficiently.

It is worth noting what this milestone was built on. These deals were funded without a single dealership lot, across two provinces, by a team running on the Company's own technology. The efficiency is not a projection; it is visible in the numbers, from the speed of the cycle to the share of customers who return. That is the difference between a business plan and a track record.

For a public-company investor, an operating history of this kind lowers a particular risk: the question of whether the model works at all. That question is now largely answered. What remains is a question of scale, whether the same approach can be carried into larger markets, and that is exactly what the Company's expansion plan is built to test, one market at a time.

Reaching this milestone in two provinces also frames the opportunity ahead. If the model can fund more than 1,250 deals in British Columbia and Alberta, the same approach applied to larger markets, beginning with Ontario, points to a materially larger opportunity, provided the Company obtains the required licences and executes on its plan.

OCAL intends to build on this base as it enters the Ontario market and continues to invest in automation and its technology, with the goal of increasing funded-deal volume while keeping its unit economics disciplined.

"More than twelve hundred and fifty funded deals is proof the model works in the real world, not just on a slide," said Mehdi Moghareh, Chief Executive Officer of OCAL. "And the customers who come back or send us a friend tell us we are earning trust, which is the hardest thing to earn in this business."

"Our job now is to turn that track record into steady, measurable growth as a public company," said Matthew Friesen, Chairman of OCAL. "The base is real. The opportunity is to scale it responsibly, and that is exactly what we intend to do."

About OCAL

OCAL Financial Inc. is an asset-light, AI-native virtual automotive dealership and vehicle-finance platform. Operating remotely and licensed in British Columbia and Alberta, OCAL moves customers from application to approval, vehicle matching, digital contracting and delivery in a single workflow. Rather than carrying owned inventory, OCAL sources each vehicle only after a customer is approved, drawing on the OPENLANE auction network and select partners. OCAL earns revenue from vehicle sales and related finance and protection products, and does not hold consumer loans or assume credit-default risk. Its technology stack, which includes workflow orchestration, a lender-routing credit-intelligence system, voice AI, and a centralized business-intelligence system, is built specifically for automotive transactions.

To learn more about OCAL, visit www.ocalfinancial.ca.

Cautionary Notes

This news release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities in the United States. The Company's securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Cautionary Note Regarding Forward-Looking Information

This news release contains "forward-looking statements" and "forward-looking information" within the meaning of applicable securities laws (collectively, "forward-looking statements") within the meaning of Canadian securities legislation. Forward-looking information generally refers to information about an issuer's business, capital, or operations that is prospective in nature, and includes future-oriented financial information about the issuer's prospective financial performance or financial position. Forward-looking statements are often identified by the words "may", "would", "could", "should", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" or similar expressions and includes information regarding: the Company's business plans and technology development; plans to expand into various provinces and, over time, into the United States; and, where applicable, proposed acquisitions and related appointments. To develop the forward-looking information in this news release, the Company made certain material assumptions, including but not limited to: prevailing market conditions; general business, economic, competitive, political and social uncertainties; delay or failure to receive board, shareholder or regulatory approvals; and the ability of the Company to execute and achieve its business objectives. 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 statements. Actual results may vary from the forward-looking information in this news release due to certain material risk factors. These risk factors include, but are not limited to: adverse market conditions; changes in general economic, business and political conditions; changes in applicable laws and regulations; compliance with extensive government regulation; reliance on key and qualified personnel; risks associated with the technology industry in general; and the risk factors disclosed under the heading "Risk Factors" in the filing statement of the Company available on SEDAR+ at www.sedarplus.ca. The foregoing list of material risk factors and assumptions is not exhaustive. The Company assumes no obligation to update or revise the forward-looking information in this news release, unless it is required to do so under Canadian securities legislation.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/317641

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