Mr. Rahim Bhaloo reports

PESORAMA REPORTS Q3 2024 FINANCIAL RESULTS

Pesorama Inc. has released its financial results for the third quarter ended Oct. 31, 2023.

"As the only true dollar store company in Mexico, we are constantly innovating and pushing the boundaries of what is possible," said Rahim Bhaloo, Founder & Executive Chairman of Pesorama. "Creating a new market space requires strategic thinking, operational excellence, and execution, which is reflected in this quarter's results. During Q3 2024, we saw an increase in-store traffic of 6.8%, over Q3 2023. We attribute this to the success of our unique merchandising strategies, product assortment, and overall customer experience. Our JOi Dollar Plus Stores are increasing in popularity as we continue to expand our footprint and raise the bar in our market. We believe we have the winning strategy and we are meeting the needs of the cost-conscious shopper in an underserved market that will ultimately drive long-term value for our shareholders. We have big ambitions and will continue to think outside the box to set ourselves apart."

Key Financial Highlights: Q3 2024 vs Q3 2023

• Multi-price points continue to lead to increased product assortment and increased growth of new product categories across all departments.
• Store profits increased by 156% to $476,804 for the nine-months ended October 31, 2023, an increase of $1,323,625 from the nine months ended October 31, 2022.
• Total sales increased by 51% to $14,140,796 due to organic growth of previously opened stores as well as sales from new store which opened in December 2022.
• Gross profits increased by $2,294,254 to $4,255,634, primarily driven by an increase in revenue of 51% compared to an increase in cost of sales of only 33%.
• Product gross margins increased by 3.3% from $3,583,493 or 38.2% to $5,870,312 or 41.5% due primarily to an increase in revenue from the introduction of the multi-price strategy and assortment mix which resulted in higher sales price per item and increase in demand.

Other Performance Metrics: Q3 2024 vs Q3 2023

• Sales units increased by 17% as a result of increase in demand, increased product assortment and mix
• Same store sales increased by 20% in Q3 2024 compared to Q3 2023

Key Achievements YTD 2023

• On June 9, 2023, the Company secured a $20M senior secured credit facility to finance their expansion plans
• In January 2023, the Company closed a private placement through the issuance of 17,760,264 units of the Company at a price of $0.15 per Unit for gross proceeds of $2,664,039.60. Each Unit was comprised of one common share and one common share purchase warrant.
• On November 17, 2023, the Company opened its 22nd Joi Dollar Plus Store in Tlalnepantla, Mexico. This 458-square meter site marks the Company's first stand-alone Joi store and strategically positions Pesorama in the first square of the municipality of Tlalnepantla, located 13 kilometers from the center of Mexico City, in proximity to key retailers, schools, banks, and hospitals, the store is strategically placed to serve the diverse needs of the local community.
• On December 1, 2023 The Company opened its 23rd Joi Dollar Plus Store in Iztapalapa, Mexico. Situated in the Complejo Industrial Tecnologico neighborhood, the 425-square meter store strategically targets the approximately 1,835,486 inhabitants in the municipality, located 16 kilometers from the center of Mexico City. The grand opening aligns with Pesorama's confidence in expansion plans, anticipating further growth in Mexico.

This earnings news release should be read in conjunction with the Company's condensed consolidated interim financial statements for the three and nine month period ending October 30, 2023, which can be found on Pesorama's issuer profile on SEDAR at www.sedar.com.

About Pesorama Inc.

Pesorama, operating under the JOi Canadian Stores brand, is a Mexican value dollar store retailer. Pesorama launched operations in 2019 in Mexico City and the surrounding areas targeting high density, high traffic locations. Pesorama's 21 stores offer consistent merchandise offerings which include items in the following categories: household goods, pet supplies, seasonal products, party supplies, health and beauty, snack food items, confectionery and more.

We seek Safe Harbor.