Orion Digital Corp.

Performance Graph

The following graph and table compare the total cumulative shareholder return for the Common Shares with the cumulative returns of three TSX indices for the period commencing on January 1, 2021 and ending December 31, 2025, assuming an initial investment in Common Shares of $100.

The Common Shares commenced trading on Nasdaq on April 18, 2018.

The performance graph above compares the cumulative total shareholder return of the Common Shares with the cumulative total return of the selected indices, assuming an investment of $100 on January 1, 2021 and reinvestment of dividends. Over the five-year period, cumulative shareholder return on the Common Shares declined to $30.79 at December 31, 2025, while each of the selected indices increased over the same period. The trend in executive compensation over the same period was not intended to move in direct correlation with short-term share price performance, as compensation outcomes were affected by several Company-specific factors, including the continued use of equity-based incentives with grant-date values reported for accounting purposes, temporary salary reductions and related make-whole payments, and the one-time Operational Transformation Bonus approved in 2025 in respect of the Company’s multi-year operational transformation. The Board considered these matters in the context of executive retention, cash discipline, operating performance and long-term shareholder alignment. In particular, option-based awards remain fully at-risk and had no realized or realizable value as at December 31, 2025, and the CEO and President & CFO have maintained significant personal ownership of Common Shares and, based on the requisite filings made by such executives on SEDI, have not sold Common Shares during their tenure with the Company.