Olympia Financial : for period ended March 31 | 2017

financial group inc.

FINANCIAL STATEMENTS

for period ended march 31 | 2017

financial group inc.

Table of contents

MANAGEMENT'S RESPONSIBILITY FOR CONSOLIDATED

FINANCIAL STATEMENTS 2

CONSOLIDATED

FINANCIAL STATEMENTS 3

NOTES TO THE CONSOLIDATED

FINANCIAL STATEMENTS 7

CORPORATE INFORMATION 25

OLYMPIA FINANCIAL GROUP INC. | FIRST QUARTER REPORT FOR PERIOD ENDED MARCH 31 | 2017 | 1

MANAGEMENT'S RESPONSIBILITY FOR CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS

For the first periods ended March 31, 2017 and March 31, 2016

The accompanying unaudited condensed interim financial statements and all of the data included in this report have been prepared by and are the responsibility of the Board of Directors and management of Olympia Financial Group Inc. ("Olympia").

The unaudited condensed consolidated interim financial statements have been prepared in accordance with International Financial Reporting Standards as set out in the Handbook of the Chartered Professional Accountants of Canada and reflect management's best estimates and judgments based on currently available information. In the opinion of management, the unaudited condensed consolidated interim financial statements have been prepared within acceptable limits of materiality and are in accordance with International Financial Reporting Standards appropriate in the circumstances.

The Board of Directors has reviewed and approved the accompanying unaudited condensed consolidated interim financial statements for the periods ended March 31, 2017, and March 31, 2016.

The Audit Committee, comprised of non-management directors, acts on behalf of the Board of Directors to ensure that management fulfills its financial reporting and internal control responsibilities. Management maintains appropriate systems of internal control. Policies and procedures are designed to give reasonable assurance that transactions are properly authorized, assets are safeguarded and

financial records properly maintained to provide reliable information for the preparation of the unaudited condensed consolidated interim financial statements.

Internal controls are further supported by an internal audit function which conducts periodic audits of Olympia's financial reporting and internal controls. The internal audit function reports to the Audit Committee. In performing its duties, the Audit Committee acts only in an oversight capacity and necessarily relies on the work and assurances of Olympia's management.

Olympia's independent auditor, PricewaterhouseCoopers LLP, has not performed an audit on these financial statements in accordance with the standards established by the Chartered Professional Accountants of Canada.

Signed Rick Skauge Signed Gerhard Barnard

Rick Skauge Gerhard Barnard, CPA, CMA

PRESIDENT & CHIEF EXECUTIVE OFFICER CHIEF FINANCIAL OFFICER

Calgary, Canada, May 11, 2017

2 | OLYMPIA FINANCIAL GROUP INC. | FIRST QUARTER REPORT FOR PERIOD ENDED MARCH 31 | 2017