2025 August 31 Year-to-Date Financial Performance (First Eight Months Results)

Total revenue reached $118.8 million, -$0.6 million versus plan; +$9.9 million or 9% higher than 2024. Bike Share ridership exceeded 5.1 million trips, and the Toronto Island launch contributed a favourable revenue impact of $1.7 million. This was offset by softness in Parking revenues of $1.1 million driven by 1.4 million fewer trips than the prior year. The snow event in February impacted 371 thousand fewer trips, a $1.7 million decrease in revenue in part due to the closure of 47% of our on-street inventory for snow removal. Excluding the February event, trips were down by 1.0 million, or 2.3%, compared to 2024. Total operating costs were $76.3 million; $3.5 million lower than plan driven by disciplined cost management of discretionary costs and head count; as well as net favourability on municipal taxes and volume driven costs. Finance income was $2.4 million, comparable to plan, while amortization of assets was $10.1 million; -$2.8 million lower due to timing of capital delivery. As of August 31, 2025, Toronto Parking Authority has invested $23.6 million in capital projects, with over 70% of that amount already committed. The organization remains on track to deliver $51.9 million or 95% of TPA led capital plan, bolstered by $20.8 million in direct funding from the City of Toronto for Bike Share and Electric Vehicle (EV) initiatives. This positions Toronto Parking Authority to achieve a capital spend rate exceeding 80% for the third consecutive year. Management remains on track to meet full-year 2025 performance targets, with projected net income in the range of $44 million to $47 million-exceeding plan by $2 million to $5 million.