VERSABANK ANNOUNCES THE RESULTS OF ITS 2025 MEETING OF SHAREHOLDERS

Group 1 - VersaBank held its 2025 Annual Meeting of Shareholders on April 24, 2025, in London, Ontario, where all director nominees were elected [1] - The voting results showed high approval rates for the directors, with the Honourable Frank Newbould receiving 98.97% in favor and David R. Taylor receiving 99.08% [1] - Shareholders approved the appointment of Ernst & Young LLP as auditors of the Bank [1] Group 2 - VersaBank operates as a federally chartered bank in both Canada and the US, utilizing a branchless, digital, business-to-business model [3] - The bank focuses on underserved segments of the banking industry, leveraging proprietary technology to enhance efficiency and return on common equity [3] - In August 2024, VersaBank launched a Receivable Purchase Program targeting the US market, which has been successful in Canada for nearly 15 years [3] - VersaBank owns DRT Cyber Inc., a leader in cybersecurity services, addressing the increasing volume of cyber threats [4] - The bank also has a subsidiary, Digital Meteor Inc., which develops next-generation digital assets and Digital Deposit Receipts (DDRs) [4]