Mr. Atul Sabharwal reports

SNIPP INTERACTIVE REPORTS FINANCIAL RESULTS FOR FISCAL 2023 AND ANNOUNCES CONFERENCE CALL ON MAY 1, 2024

Snipp Interactive Inc. has released its financial results for the year ended Dec. 31, 2023. All results are reported under International Financial Reporting Standards ("IFRS") and in US dollars. A copy of the complete audited financial statements and management's discussion and analysis are available on SEDAR (www.sedarplus.ca).

The Company also announces conference call details for investors taking place on Wednesday, May 1, 2024 at 10:00am Eastern Time (US) to discuss the Company's recent financial results and plans for the year.

The conference call will be available via the following weblink or dial-in options.

Weblink: https://v.ringcentral.com/join/546078785 for meeting ID 546078785

Dial-in: for parties in the United States dial +1-650-419-1505 and parties in Canada dial +1-437-800-0918, and then enter Meeting ID: 546078785. Parties joining from other locations can refer to additional dial-in numbers based on your location listed at the following website and use the same Meeting ID referenced above: https://v.ringcentral.com/teleconference

Highlights

Revenue for Fiscal 2023 totaled $30.55 million, the highest in the Company's history, which represents an increase of 24% from Fiscal 2022.

Revenue for Q4 2023 totaled $7.96 million, which represents an increase of 13% from Q4 2022.

Gross margin in Fiscal 2023 was 31%, as compared to 38% in Fiscal 2022.

Gross margin in Q4 2023 was 39%, as compared to 31% in Q4 2022.

EBITDA in Fiscal 2023 totaled ($1,908,355), compared to $22,465 in Fiscal 2022.

EBITDA in Q4 2023 totaled $31,566, compared to ($693,725) in Q4 2022.

EBITDA for the second half of 2023 [Q3-Q4] was positive $64,974 compared to negative ($413,185) in the second half of 2022 [Q3-Q4].

Bookings Backlog (programs that have been sold, but whose revenues have not yet been recognized) stood at $13.6 million at December 31, 2023, compared to $11.9 million at December 31, 2022.

Cash at the end of 2023 stood at $2.9 million, with accounts receivable at $2.1 million. The company continues to be debt free.

We are thrilled with Snipp's achievements throughout 2023," stated Atul Sabharwal, Founder of Snipp. "Our strategic expansion into new markets, the introduction of new business lines, and most importantly, our investments in our team, are all yielding results. This success is reflected in some of the new client solutions we launched last year, positive EBITDA results in the third and fourth quarters, and a growing bookings backlog comprised of new logo wins as well as existing customers."

"In the next month, we will release our first-quarter earnings, which we anticipate will demonstrate further improvements in our gross margins as we move away from legacy contracts and proof of concept partnerships. Gambit Rewards remains uniquely positioned in the world of loyalty sports betting and our team continues to explore ways to improve its profitability and expand its use cases. We are also excited to update you on SnippMEDIA, which launched in March with a top financial institution and has shown promising early results. With an audience now exceeding fifty million loyalty users, we are well positioned to expand relationships with many of our Fortune 500 clients with yet another product that is an industry first. Our innovative platform can seamlessly integrate a cash back offer from a banking app directly with a retailer. It also modernizes the couponing process, moving us beyond traditional, print-at-home solutions."

"Snipp remains dedicated to ongoing innovation in the loyalty, couponing and first party data market and is strategically expanding our reach both across new geographies and within our current customer base. We are excited to share additional updates on our progress in the coming weeks. Our commitment to driving sustainable profitability is stronger than ever as we look to return our gross margins towards historical levels and generate expense leverage from the investments we have made over the past two years."

About Snipp:

Snipp Interactive Inc. (TSX-V: SPN; OTCPK: SNIPF) is a leading Platform-as-a-Service (PaaS) company in the global loyalty and promotions sector. Snipp's proprietary and modular SnippCARE (Customer Acquisition, Retention & Engagement) Platform allows its marquee list of Fortune 500 clients and world-class agencies and partners to use various modules of the Platform to run long-term and short-term programs and promotions, while continually generating and capturing unique zero party data that is invaluable in providing insights to drive sales. SnippCHECK, the Platform's Receipt Processing Module has established itself as an industry leader and standard by powering a large majority of all receipt-based promotions in North America. SnippLOYALTY, the Platform's full scale modular loyalty engine allows clients the flexibility of deploying any/all aspects of a standard loyalty program on a case-by-case basis. SnippREWARDS, the Platform's modular catalogue of digital and physical rewards provides clients with global and easily deployable access to an extensive catalogue of digital and physical rewards. SnippWIN, the Platform's gaming module solves for the implementation and compliance difficulties of offering games of chance and skill on a global basis and allows for the global deployment and administration of legally compliant games of chance and skill. For more information, visit Snipp's website at www.snipp.com and its profile on SEDAR+ at www.sedarplus.ca.

Snipp is headquartered in Vancouver, Canada with a presence across the United States, Canada, Ireland, Europe, and India. Snipp is publicly listed on the TSX Venture Exchange in Canada and is also quoted on the OTC Pink marketplace under the symbol SNIPF.

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