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Flexiti, a Subsidiary of CURO, Signs LFL Team to 10-12 months Distinctive Level-of-Sale Customer Financing Agreement | National

WICHITA, Kan.–(Business WIRE)–Jun 1, 2021–

CURO Team Holdings Corp. (NYSE: CURO) (“CURO” or the “Company”), a tech-enabled, multi-channel and multi-item consumer finance company serving a large range of non-primary and primary shoppers in the U.S. and Canada and a marketplace chief in the market primarily based on revenue, currently announced that Flexiti, the company’s wholly-owned subsidiary, signed LFL Group (TSX: LNF) (“LFL”), Canada’s largest house furnishings retailer, to a 10-12 months exclusive issue-of-sale (“POS”) shopper financing arrangement (the “Agreement”).

LFL, also regarded as Leon’s Furnishings Minimal, operates more than 300 stores throughout Canada below quite a few banners such as Leon’s, The Brick, The Brick Mattress Retail outlet, The Brick Outlet, Furniture.ca, Appliance Canada and Midnorthern Appliance. The Agreement incorporates all LFL retail banners and handles both in-store and on line profits. The Arrangement expands the robust and founded romance concerning the two companies: the FlexitiCard® has been approved at The Brick given that 2018 and has been used to apply and get on-line at thebrick.com and leons.ca given that 2019. Flexiti estimates the POS lending marriage will create more than C$800 million in yearly financed profits. Flexiti thinks the Settlement, which starts on July 1, 2021, positions the business as the largest service provider of POS financing solutions in Canada. As aspect of the 10-year exclusive agreement, LFL was granted a warrant to obtain 19.9{7e180e233e01aa8c38055bc91ceacc98196af3ac6f20dbae633f8361c9e41c15} of Flexiti that is only exercisable if Flexiti will become a different publicly traded entity or if it undergoes a adjust of regulate. 1

“We are thrilled to announce the expanded partnership involving Flexiti and LFL Team,” stated Peter Kalen, founder and Chief Government Officer of Flexiti. “For three several years, we have found our FlexitiCard customers producing buys at The Brick and Leon’s. Now, customers at LFL stores and ecommerce web-sites can use and attain access to the very same {7e180e233e01aa8c38055bc91ceacc98196af3ac6f20dbae633f8361c9e41c15} funding selections that LFL has pioneered for its consumers. It is an unbelievable honor to associate with LFL’s management team, who have delivered main-edge funding solutions to their buyers that supply both extraordinary benefit and affordability.”

Edward Leon, Main Government Officer of LFL Team, explained, “At Leon’s Furnishings Restricted, we have normally embraced innovation and strived for improved strategies to provide our clients. This partnership with Flexiti is a continuation of that commitment. With our significant network of retail shops across Canada as very well as our effective ecommerce web-sites, we are quite happy to deliver a most effective-in-class, omni-channel funding working experience to our clients to make shopping easier and more cost-effective. We are searching ahead to deepening our partnership with the group at Flexiti.”

“We are excited to see the scope of Flexiti’s marriage with LFL mature meaningfully by means of this extended-term distinctive agreement that will produce Flexiti’s revolutionary funding solutions to an even better selection of Canadians,” said Don Gayhardt, CURO’s Chief Executive Officer. “When CURO introduced the Flexiti acquisition earlier this 12 months, we reported that a critical benefit of the transaction would be enhancing our advancement profile in Canada, a important marketplace for us. We also expressed our deep dedication to carry on offering Flexiti’s retailers with business-primary company and methods to make improvements to revenue and purchaser fulfillment. This 10-12 months Settlement with LFL demonstrates the energy of Flexiti’s featuring and the substantial chance in the POS and invest in-now-shell out-later space and Flexiti’s ability to establish robust prolonged-expression interactions and execute with its service provider companions.”

With 2020 overall procedure-broad profits of C$2.7 billion, LFL is 1 of the biggest furnishings and equipment vendors in North America. LFL’s coastline-to-coastline retail footprint incorporates stores in all of Canada’s major populace centers. Launched in 1909, LFL has served the household furnishings demands of Canadian customers for around 100 years. For the past 3 yrs, LFL has prioritized the development of a planet-class, scalable, on the web possibility that permits prospects to shop when, in which and how they want. ecommerce will keep on being a centerpiece of LFL’s omni-channel method, supplying prospects the finest of both worlds.

Trader Phone

CURO will keep a conference call to go over the Agreement with LFL at 8:30 am ET nowadays. The call will involve a discussion of the agreement adopted by a concern-and-respond to session. A supplemental trader presentation providing additional element on the Arrangement is out there in the “Events & Presentations” area of CURO’s Buyers internet site at https://ir.curo.com/occasions-and-shows.

Conference Simply call Data: The reside webcast of the get in touch with can be accessed at the CURO Investor Relations site at http://ir.curo.com/. You may well access the simply call at 1-866-807-9684 (1-412-317-5415 for international callers). Remember to request to join the CURO Group Holdings simply call.

Archive: A taped replay of this call will be out there until eventually June 8, 2021, Jap Time. You might access the meeting simply call replay at 1-877-344-7529 (1-412-317-0088 for worldwide callers). The replay entry code is 10157217. An archived variation of the webcast will be offered on the CURO Buyers internet site for 90 times.

Ahead-Hunting Statements

This push launch incorporates forward-seeking statements. These ahead-looking statements involve statements about projections, estimates and assumptions about the degree of financed income underneath the arrangement and the impression of the settlement on our business enterprise. In addition, text this kind of as “guidance,” “estimate,” “anticipate,” “believe,” “forecast,” “step,” “plan,” “predict,” “focused,” “project,” “is probably,” “expect,” “intend,” “should,” “will,” “confident,” variations of this kind of terms and comparable expressions are intended to determine ahead-hunting statements. The skill to achieve these forward-wanting statements is centered on specified assumptions, judgments and other things, each in just and exterior of our handle, that could trigger precise success to differ materially from those in the ahead-searching statements, which include: the results of the parties below the settlement and the amount of customers’ use of the POS solution the outcomes of competitiveness on the company’s enterprise our potential to draw in and keep clients industry, monetary, political and lawful ailments the long run impression of COVID-19 pandemic on the company’s small business and the world financial system our dependence on third-get together loan companies to present the cash we need to have to fund our financial loans and our ability to affordably obtain 3rd-bash financing errors in our internal forecasts our amount of indebtedness our ability to integrate obtained organizations steps of regulators and the detrimental affect of these actions on our business our potential to safeguard our proprietary know-how and analytics and continue to keep up with that of our rivals disruption of our data know-how methods that adversely have an affect on our company operations ineffective pricing of the credit history possibility of our possible or existing consumers inaccurate information supplied by consumers or 3rd get-togethers that could guide to mistakes in judging customers’ skills to obtain loans poor disclosure of client individual data failure of 3rd parties who give solutions, services or assist to us any failure of 3rd-bash loan providers upon whom we count to carry out business in selected states disruption to our associations with financial institutions and other third-occasion digital payment alternatives vendors as perfectly as other elements talked about in our filings with the Securities and Exchange Commission. These projections, estimates and assumptions might demonstrate to be inaccurate in the long run. These forward-hunting statements are not guarantees of future general performance and involve recognised and mysterious threats and uncertainties that are hard to predict with regard to timing, extent, chance and degree of occurrence. There may perhaps be more challenges that we presently do not know or that we at the moment believe that are immaterial that could also trigger actual final results to vary from these contained in the ahead-searching statements. Given these threats and uncertainties, traders need to not spot undue reliance on ahead-looking statements as a prediction of true long run results. We undertake no obligation to update, amend or clarify any forward-searching statement for any reason.

About Leon’s Household furniture Restricted (LFL)

LFL is the greatest retailer of furnishings, mattresses, appliances and electronics in Canada. LFL’s retail banners consist of: Leon’s, The Brick, The Brick Mattress Shop and The Brick Outlet. At last, with the Midnorthern Appliance banner together with the Appliance Canada banner, LFL is also the country’s largest professional retailer of appliances to builders, builders, hotels and assets administration firms. LFL has 303 retail outlets from coast to coast in Canada underneath various banners. As nicely, the Company operates a few ecommerce sites: leons.ca, thebrick.com and home furnishings.ca.

About Flexiti

Founded in 2013 by Peter Kalen, Flexiti is a person of Canada’s quickest-escalating position-of-sale fintech loan providers, providing buyers {7e180e233e01aa8c38055bc91ceacc98196af3ac6f20dbae633f8361c9e41c15} desire financing at suppliers that sell large-ticket merchandise like furnishings, appliances, jewellery and electronics. By means of its award-successful omni-channel platform, shoppers can be accepted instantly to store with their FlexitiCard®, which they can use on the internet or in-retail outlet to make several purchases, within their credit rating restrict, with no needing to reapply. Acknowledged at over 7,000 locations and ecommerce web sites throughout Canada such as The Brick, Leon’s, Staples, Snooze Country, Wayfair, Birks and Peoples Jewellers, Flexiti aims to make our customers’ lives extra inexpensive and assist our retail partners develop their income by offering versatile funding alternatives.

Flexiti’s expansion, driven by its financing system, is recognized as industry foremost. In 2019, Flexiti was named Canada’s 11th swiftest growing enterprise by the World and Mail, rated 7th in the Deloitte Technological innovation Quickly 50™ method, and 40th in Deloitte North America Technological know-how Quickly 500™. In 2020, Flexiti rated 29th in The Americas’ 500 Swiftest Escalating Firms by the Financial Times, 6th in The Globe and Mail’s Canada’s Top Rising Organizations, 3rd on the 2020 Advancement Record and 6th and 39th on Deloitte Engineering Speedy 50™ and Speedy 500™, respectively. Flexiti is a wholly-owned subsidiary of CURO Team Holdings Corp. (NYSE: CURO).

For additional info, pay a visit to www.flexiti.com.

About CURO

CURO Group Holdings Corp. (NYSE: CURO), serves the evolving needs of the monetary buyer. In 1997, the Organization was established in Riverside, California by 3 Wichita, Kansas childhood close friends to fulfill the growing customer want for brief-term loans. Their results led to opening stores across the United States, later on increasing to present on the web loans and economical companies in the United States and Canada and now broadening into a total-spectrum customer loan provider via the issue-of-sale / get-now-fork out-afterwards channel. CURO brings together its market experience with a thoroughly integrated technologies platforms, an omni-channel technique and superior credit decisioning to offer an array of credit rating goods across all mediums. CURO operates beneath a selection of brands which includes Speedy Cash®, Fast Cash®, Money Money®, LendDirect®, Flexiti®, Avío Credit®, Choose+® and Revolve Finance®. With around 20 several years of functioning practical experience, CURO delivers fiscal independence to non-primary individuals.

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1 The warrant’s strike value is primarily based on CURO’s order value for Flexiti, modified for additional earnout payments. LFL will have no board representation or other governance or info rights.

(CURO-NWS)

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Keyword: KANSAS UNITED STATES NORTH The usa CANADA

Business Keyword: FINANCE OTHER RETAIL BANKING SPECIALTY Experienced Companies Property Goods RETAIL OTHER Specialist Companies On the web RETAIL

Supply: CURO Team Holdings Corp.

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PUB: 06/01/2021 06:00 AM/DISC: 06/01/2021 06:02 AM

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