For further information about GMP Capital Inc., our results for third quarter 2011 and the meaning of certain references, this
quarterly earnings release should be read in conjunction with our Third Quarter 2011 Financial Statements and Management’s
Discussion and Analysis for the three and nine months ended September 30, 2011, which can be accessed on our website at
gmpcapital.com and on sedar.com. Unless otherwise indicated, all dollar amounts are expressed in Canadian dollars and have
been taken from our Third Quarter 2011 Financial Statements prepared in accordance with International Accounting Standard 34:
Interim Financial Reporting using the policies we expect to apply in our annual financial statements for the year ending
December 31, 2011, prepared in accordance with International Financial Reporting Standards (“IFRS”).
TORONTO, November 4, 2011 — GMP Capital Inc. (“GMP”) (TSX: GMP) today reported a net loss of $4.6
million ($0.09 loss per basic share) in third quarter 2011 compared with net income of $23.1 million
($0.32 per basic share) in third quarter 2010. GMP recorded revenue of $46.3 million for the third
quarter ended September 30, 2011, representing a 55% decrease compared with the same period a year
ago, reflecting the challenging business and capital markets environment which persisted in the
quarter. This quarter’s results were significantly affected by the unfavourable market environment and
also reflect a $5.0 million (pre-tax) charge recorded in connection with a previously announced
executive management retirement.