Star Metro - Global Education Communities Corp. Reports F2026 Q3 Financial Results

The following table presents selected financial data from the Q3 2026 Financial Report with comparisons to the nine months ended May 31, 2025 ("Q3 2025"). All figures are in thousands of Canadian dollars, except share and per-share data, unless otherwise stated.

"Our financial results for Q3 2026 were highlighted by the successful divestiture of the Company's legacy educational assets and a steady 9% increase in total revenue year-over-year," commented Toby Chu, Chairman, President, and Chief Executive Officer of GECC.

Q3 2026 Financial Highlights

The following is a summary of the Company's financial results for Q3 2026:

• Student Housing rental revenue increased in Q3 2026 by 11% to $13.922 million, up from $12.543 million in Q3 2025.

• Total revenue increased by 9% in Q3 2026 to $16.593 million, up from $15.241 million in Q3 2025.

• Net income attributable to GECC shareholders was $0.672 million in Q3 2026, a significant turnaround of 307% from Q3 2025.

• EBITDA from continuing operations increased by 59% to $7.027 million in Q3 2026, up from $4.421 million in Q3 2025.

• Earnings per share (EPS) attributable to GECC shareholders was $0.01 in Q3 2026, a turnaround of 304% from Q3 2025.

• Asset Divestiture: The Company completed the sale of SSLC Language College and VIC Vancouver International College on February 28, 2026, for $2 million. This follows the fiscal 2025 divestment of Sprott Shaw College for gross cash proceeds of $35 million.

Strategic Realignment: GEC® Living & GEC® Development and Construction

Following the divestiture of its education services division after 32 years of operation, GECC is transitioning its corporate focus entirely toward its student housing real estate portfolio.

Effective with the Third Quarter Financial Statements, the Company has enhanced its financial reporting format to provide stakeholders with a clearer view of its core operational portfolio versus its long-term development and construction pipeline. For a detailed breakdown, please refer to Note 17 of the Third Quarter Financial Statements filed on SEDAR+.

The newly formatted segmented information illustrates the profit and loss across GECC's four primary corporate pillars. By allocating revenues, related expenses, and net profit/loss according to their nature, management and stakeholders can better assess operational viability and future growth potential.

The four segments of GECC and their functions are:

1. Development and Construction: Focuses on developing a pipeline of GEC® projects to reduce future asset acquisition costs. The four projects in the pipeline are: GEC® Oakridge, GEC® Langara, GEC Surrey Education Mega Center® and CyberCity.

2. GEC® Living: Operates a portfolio of corporate-owned and master-leased student housing properties. The eight operating properties are: GEC® Burnaby Heights, GEC® King Edward, GEC® Pearson (north and south towers) and GEC® Marine Gateway (north and south towers), GEC® Viva, and GEC® Kingsway.

3. Education and Support Services: Services third-party clients, recruits students for GEC® properties, identifies institutional partners, and monitors global and domestic market intelligence within the education sector.

4. Corporate: The TSX-listed entity responsible for corporate finance, strategic planning, and liaising with institutional investors to fund expansion plans.

Segmented Information

As illustrated in the above table, the Development and Construction segment is structured to generate substantial, long-term returns upon project completion. However, this segment requires significant capital commitments over extended timelines to yield these gains. Conversely, the GEC® Living segment (operational student housing) generates immediate, predictable, and steady cash flow, with further valuation upside realized during real estate market upturns and strategic asset exits.

About GECC:

For over 32 years, GECC has been a leading player in Canada's education and student housing sectors. Following the strategic divestiture of its domestic college assets in 2025 and 2026, GECC has evolved into a premier pure-play student housing developer and operator. Serving nearly 10,000 domestic and international students annually, GECC's global footprint spans student housing communities, recruitment centers, and corporate offices across Canada and abroad.

Student Housing & Education Super-Centres

Under the flagship GEC® Living brand, GECC is the largest off-campus student housing provider in Western Canada. The company specializes in developing and managing student-centric rental apartments and has pioneered the "Education Super-Centre" concept-integrated hubs that combine academic space with high-density housing. The GEC® portfolio, comprising both operational assets and a robust development pipeline, represents a combined value and development budget exceeding $1 billion. With 1,300 operational beds and approximately 2,500 additional beds in the development pipeline, GEC® provides essential housing solutions to students from 79 countries worldwide attending 95 schools across Metro Vancouver. Website: www.gecliving.com

Academic Division and Supporting Services

Formerly the parent company of Sprott Shaw College, SSLC Language College and Vancouver International College, GECC successfully divested these entities in 2025 and 2026 to focus on its student housing real estate business. The Company's current academic division continues through CIBT School of Business & Technology Corp., maintaining a feeder and bridge between institutional education and student-centric infrastructure.

GECC maintains a vertically integrated ecosystem to achieve high occupancy and brand consistency across its portfolio. Global Education Alliance (GEA): A premier student recruitment agency that connects international students with top-tier North American institutions and streamlines their placement into GEC® housing. Irix Design is a Vancouver-based media and communications firm that serves as GECC's internal marketing and design department, ensuring seamless execution of the Company's global brand strategy.

Visit GECC online at www.GEChq.com to explore our services and watch our corporate video. Check out our video library on YouTube.com: https://www.youtube.com/gecliving

For more information, contact:

Toby Chu
Chairman, President & CEO
Global Education Communities Corp.

Investor Relations Contact: 1-604-871-9909 extension 319 or | Email: [email protected]

FORWARD-LOOKING STATEMENTS

Some statements in this news release contain forward-looking information (the "forward-looking statements") about the Company and its plans. Forward-looking statements are statements that are not historical facts. Forward-looking statements in this news release include, without limitation, the benefits from the planned changes to the Company's financial reporting segments. The forward-looking statements are subject to various risks, uncertainties and other factors (collectively, the "Risks") that could cause GECC's actual results or achievements to differ materially from those expressed in or implied by forward-looking statements. Forward-looking statements are based on the beliefs, opinions and expectations of GECC's management at the time they are made, and the Company does not assume any obligation to update its forward-looking statements if those beliefs, opinions or expectations, or other circumstances should change, except as may be required by law.

NON-IFRS FINANCIAL MEASURES

The Company has included certain non-IFRS financial measures throughout this document including: (a) Earnings before Interest, Taxes, Depreciation and Amortization ("EBITDA"); (b) Adjusted EBITDA which is EBITDA adjusted for the gain (loss) on change in fair value of the Company's investment properties, the gain (loss) on change in fair value of derivative instruments, and gain from legal settlement. These non-IFRS financial measurements do not have any standardized meaning as prescribed by IFRS and are therefore unlikely to be comparable to similar measures presented by other issuers. Accordingly, these performance measures are intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. Management uses EBITDA and Adjusted EBITDA metrics to measure the profit trends of the business units and segments in the consolidated group since it eliminates the effects of financing decisions. Certain investors, analysts and others utilize these non-IFRS financial metrics in assessing the Company's financial performance. These non-IFRS financial measurements have not been presented as an alternative to net income (loss) or any other financial measure of performance prescribed by IFRS. Reconciliation of the non-IFRS measures have been provided throughout the Company's MD&A, as applicable, filed under the Company's profile on www.sedarplus.ca.

SOURCE: Global Education Communities Corp

View the original press release on ACCESS Newswire

D.Fraser--SMC