VersaBank — Audit Report / Information 2022

Dec 20, 2022

December 20, 2022 Alberta Securities Commission Authorité des marchés financiers British Columbia Securities Commission Financial and Consumer Affairs Authority of Saskatchewan, Securities Division Financial and Consumer Services Commission (New Brunswick) Nova Scotia Securities Commission Ontario Securities Commission Superintendent of Securities, Newfoundland and Labrador Superintendent of Securities, Northwest Territories Superintendent of Securities, Nunavut Superintendent of Securities, Prince Edward Island Superintendent of Securities, Yukon The Manitoba Securities Commission

Dear Sirs/Mesdames:

Re: VersaBank Change of Auditor Notice dated 14/12/22

Pursuant to National Instrument 51-102 (Part 4.11), we have read the above-noted Change of Auditor Notice and confirm our agreement with the information contained in the Notice pertaining to our firm.

Yours sincerely,

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Cc: The Board of Directors, VersaBank

A member firm of Ernst & Young Global Limited