Mr. Robert Price reports

AMCOMRI REPORTS FIRST QUARTER 2023 RESULTS

Amcomri Entertainment Inc. has released financial results for the first quarter ended March 31, 2023.

Q1 2023 highlights (compared with Q1 2022):

• Revenue increased 22.9 per cent to $5,118,176.
• EBITDA (earnings before interest, taxes, depreciation and amortization) increased 106.0 per cent to $2,449,817.
• Net income increased 104.2 per cent to $1,589,246.
• Left Behind 2 (Rise of the Antichrist) achieved box office revenues of $4.8-million in a limited four-day release in North American theatres.
• Television and documentary revenue experienced a slower-than-expected start to the year as two major 2023 releases have been pushed to the middle of the year.
• Seven films that were delayed in 2022 have since been delivered and are now available for sale at the major film markets.

"We had a solid first quarter with growth in revenue and profitability," said Robert Price, chief executive officer of Amcomri. "The movie side of our business performed well during the quarter. Left Behind 2 performed well in a limited box office release during the quarter, and we are seeing strong demand since physical and digital distribution windows opened in North America on March 26, 2023. Additionally, seven films originally slated for last year are now available for sale, and the first quarter would have been even stronger had it not been for two of our major TV releases for the year being pushed back to the middle of the year.

"As audiences become increasingly discerning and seek out authentic and diverse storytelling, independent content creators are uniquely positioned to deliver the content that viewers crave. We are well aligned with this ongoing trend as we work to establish Amcomri as the home for independent storytellers, and we remain particularly excited about our TV business, where we continue to represent and invest in a diverse portfolio of productions."

Selected financial information

The attached table sets out selected historical financial information for Amcomri for the first quarter ended March 31, 2023. Such information is derived from and should be read in conjunction with the financial statements and management's discussion and analysis for the first quarter ended March 31, 2023, which will be filed under the company's profile on SEDAR on Monday, May 15, 2023.

About Amcomri Entertainment Inc.

Amcomri (NEO Exchange: AMEN) (Frankfurt Stock Exchange: 25Y0) provides global distribution capabilities for independent movie, documentary and TV series producers, as well as for its own in-house productions. With decades of experience across all key media platforms, Amcomri is rapidly becoming the go-to team for independent producers, seeking the broadest possible audience for their productions. The Amcomri group of companies includes 101 Films, 101 Films International, Hollywood Classics International, Amcomri Productions, Appreciated Media Global, Amcomri Productions and Abacus Media Rights.

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