Pineapple Financial (PAPL) Investor presentation summary

Business overview and strategy

• Operates a technology-driven mortgage brokerage platform with $3B in annual originations and a network of 700+ brokers across Canada.

• Focuses on transitioning from infrastructure build-out to operating discipline, margin expansion, and recurring revenue streams.

• Proprietary tokenized loan-level data platform enables analytics, efficiency, and future recurring revenue.

• Maintains a digital asset treasury (~$42.7M) to enhance capital efficiency and earnings durability.

• Strategic plan centers on three pillars: core mortgage platform, data/tokenization, and digital asset treasury.

Core mortgage platform (Pillar I)

• Drives cash flow, scale, and high-quality data through agent recruitment, retention, and productivity.

• Implements operational SLAs to reduce cycle times and improve conversion rates.

• Expands take-rate via pricing discipline and ancillary revenue streams.

• Targets sustained 3% monthly net gross-agent growth and improved revenue per loan.

• Focuses on lowering cost per funded loan and locking in OpEx run-rate improvements.

Data and tokenization (Pillar II)

• Tokenizes mortgage data, creating unified, auditable on-chain loan master records.

• Monetizes data through subscription analytics, APIs, and dashboards for institutional clients.

• 1,899 mortgages already on-chain, with $1.1B CAD in tokenized loan records and a target of 29,000 loans.

• Product path includes internal data unification, external lender subscriptions, and registry optionality.

• Enables higher-margin, recurring, subscription-like revenue streams.