Mr. Marco Margiotta reports

PAYFARE ANNOUNCES FOURTH QUARTER 2023 ACTIVE USER GROWTH

Payfare Inc. had over 1.4 million active users as at Dec. 31, 2023, an increase of approximately 16 per cent compared with active users as at Sept. 30, 2023, and 33 per cent compared with active users as at Dec. 31, 2022.

"We achieved our best-ever quarterly active user growth in the fourth quarter of 2023," said Marco Margiotta, chief executive officer and founding partner of Payfare. "We look forward to announcing our financial results for the fourth quarter and sharing our growth outlook for the year ahead."

Payfare will be hosting a conference call on Thursday, March 21, 2024, at 6:30 p.m. ET to discuss the company's 2023 fourth quarter and full-year financial results. The complete financial results are expected to be released after market close on the same day. A short presentation in connection with the conference call will be made available ahead of time on the company's website. Management will also host a live question-and-answer session on the conference call with analysts.

To access the conference call, please dial 289-514-5100 or 1-800-717-1738. Please call the conference telephone number 10 to 15 minutes prior to the start time so that you are in the queue for an operator to assist in registering and patching you through.

An archived recording of the conference call will be available until April 21, 2024. To listen to the recording, call 416-764-8692 or 1-877-674-7070 and enter passcode 10007.

About Payfare Inc.

Payfare is a global financial technology company powering digital banking and instant payment solutions for today's gig work force. Payfare partners with leading platforms and marketplaces such as Uber, Lyft and DoorDash to provide financial health for their work forces.