16 BARBADOS PUBLIC WORKERS’ CO-OPERATIVE CREDIT UNION LIMITED Equity: As at March 31, 2026, the Group’s total equity rose to $205.1 million, representing an increase of $6.5 million or 3.3 percent. This increase included the new issue of 94.7 thousand (2025 – 93.5 thousand) member shares at a total value of $473.4 thousand (2025 – $467.5 thousand) and the distribution of $2.8 million (2025 – $2.7 million) in dividends and interest rebates to members during the year. The Group’s capital adequacy ratio remained in line with the 10 percent regulatory requirement. This ratio is a key measurement relative to the Group’s ability to absorb market shocks and as such is monitored on an ongoing basis. ECONOMIC Outlook 2026 Barbados’ economic outlook for 2026 remains broadly positive, with the Central Bank of Barbados projecting continued expansion driven by tourism, construction, and business services, underpinned by sustained public and private investment and policy reforms under the BERT 2026 programme. Real GDP growth is expected in the range of roughly 2–3 percent, with stable external reserves, moderate inflation, and ongoing infrastructure and renewable energy projects supporting productive capacity and employment, although global uncertainty and geopolitical risks remain key downside factors. Within the wider Eastern Caribbean, the ECCB indicates a resilient regional outlook, with the Eastern Caribbean Currency Union (ECCU) projected to grow by about 3.3 percent in 2026, largely supported by tourism and improved financial stability, while ongoing reform efforts focus on strengthening resilience, food and energy security, and digital transformation. In St. Lucia specifically, the outlook for 2026 reflects a modest recovery trajectory, with growth expected to rebound as tourism strengthens and infrastructure projects advance, though fiscal pressures, debt vulnerabilities, and global uncertainties continue to shape the medium-term outlook. BPWCCUL Group Outlook 2026 As we look to the future, BPWCCUL remains focused on strengthening its position as a resilient, progressive, and member-focused financial institution. Rapid technological change, shifting member expectations, evolving regulatory requirements, and increasing Management Discussion & Analysis (MD&A) (Continued) cybersecurity threats continue to transform the financial services environment. In response, we are committed to enhancing our capabilities, driving innovation, and maintaining sustainable growth while ensuring that we continue to deliver value and meet the changing needs of both current and future generations of members. Digital Transformation & Member Services Digital transformation remains a key strategic priority. Building on the rollout of BimPay, we will continue enhancing member convenience through innovative digital solutions, including the introduction of online loan applications. We will also explore opportunities to leverage artificial intelligence and data analytics to improve operational efficiency, personalize member experiences, and strengthen service delivery. Cybersecurity & Data Protection Protecting member information remains paramount. We will continue investing in our cybersecurity framework, enhancing threat monitoring capabilities and strengthening our security architecture to ensure our systems remain resilient and capable of addressing evolving cyber risks. Generational Engagement & Sustainability Our long-term success depends on meeting the needs of all generations of members. While continuing to serve and support our loyal membership base, we will focus on attracting younger members through innovative products, financial education initiatives, and engagement strategies that reflect their evolving expectations. Culture & Talent Development Our people remain central to our success. We are committed to fostering a high-performance culture rooted in cooperative values, continuous learning, accountability, and employee empowerment, ensuring our teams have the skills and support needed to excel. Cooperative Principles & Future Vision Our cooperative philosophy of “people helping people” remains the foundation of everything we do. By combining these enduring values with innovation and service excellence, BPWCCUL is well-positioned to navigate future opportunities and challenges while remaining deeply connected to the members and communities we serve. MEMBERS 120,908 GROWTH +3.1% NEW MEMBERS +3,651 GROWING MEMBERSHIP STRONGER TOGETHER. GROWING TO SERVE YOU BETTER MEMBERS 120,909 3.1% TOTAL ASSETS $2.09B 4.1% TOTAL EQUITY $205.1M 3.3% CASH RESOURCES $484.5M 11.4% NET INCOME $10.0M 66.7% NET LOANS $1.4B 1.7% DEPOSITS +$74.0M 4.2% MEMBERS 120,909 TOTAL ASSETS $2.09B NET LOANS $1.4B CASH RESOURCES $484.5M NET INCOME $10.0M TOTAL EQUITY $205.1M BPWCCUL GROUP BY THE NUMBERS MORTGAGE LOANS + $14.5M 2.7% CONSUMER LOANS + $8.1M 1.4% BUSINESS LOANS 9.1% -$236.1K (CHANGE FORM PREVIOUS YEAR) EMPOWERING MEMBERS THROUGH LENDING +$21.9 MILLION TOTAL NET LOAN GROWTH 1.9% Supporting and Empowering Members. 66.7% $10.0M NET INCOME AFTER TAX NEW DEPOSITS GENERATED FIRST TIME BORROWERS NEW MEMBER LOANS $184.8M 247 $4.8M
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