Annual Reports

2016 at a Glance

1

In 2016, Mortgages Under Administration (MUA) grew 6% to $99.4 billion, further solidifying First National’s position as Canada’s largest non-bank mortgage originator and underwriter.

10

The number of times our Board has increased the common share dividend since First National’s initial public offering in 2006.

5

The number of contributing sources to First National’s revenue, including net interest — securitized mortgages, placement fees, mortgage servicing income, mortgage investment income, and deferred placement fees.

56%

The percentage First National paid out of its 2016 earnings to common shareholders by way of quarterly dividends. When measured against after-tax Pre-Fair Market Value EBITDA, the payout ratio was 56%.

$3.28

First National’s 2016 earnings per share in 2016 were 92% ahead of 2015 on positive core business performance assisted by gains on financial instruments. Excluding gains and losses on financial instruments, Pre-Fair Market Value EBITDA (a non-GAAP measure of earnings performance) was 21% higher than in 2015.

419%

The cumulative yield from dividends, distributions and capital appreciation earned by a shareholder between First National’s initial public offering in June 2006 and December 31, 2016.

$99.4 Billion

First National’s MUA approaches the $100 billion milestone.

47%

The after-tax Pre-Fair Market Value return on shareholders’ equity in 2016 again demonstrated the efficiency of First National’s business model.

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