Mr. Michael Wekerle reports

WONDERFI PROVIDES UPDATE ON OPERATIONAL PROGRESS

Wonderfi Technologies Inc. has provided operational updates and unaudited financial information.

This news release constitutes a designated news release for the purposes of the company's prospectus supplement dated Dec. 23, 2022, to its short-form base shelf prospectus dated Sept. 7, 2022.

Preliminary January financial metrics:

• January, 2024, consolidated revenue of $4.8-million (an increase of 751 per cent year over year);
• Wonderfi's cash and digital asset holdings were $37.4-million as of Dec. 31, 2023 (compared with $33.4-million on Sept. 30, 2023);
• Wonderfi achieved positive EBITDA (earnings before interest, taxes, depreciation and amortization) and cash flow positive operations on a consolidated basis during the month;
• Wonderfi's crypto trading platforms facilitated over $350-million in combined trading volumes during the month, compared with $56-million in January, 2023 (representing a 524-per-cent increase year over year);
• Wonderfi continues to experience client inflows, with combined client assets under custody for Bitbuy and Coinsquare of approximately $1-billion as of Jan. 31, 2024.

Operational updates:

• SmartPay, Wonderfi's crypto payments processing platform, achieved a major milestone. SmartPay has passed $1-billion in total volumes processed since 2020, with over half of those volumes occurring in the last 12 months.
• Bitbuy Private Wealth experienced a record January surpassing $100-million in volumes traded (an increase of 323 per cent year over year), with an average trade size of $277,000.
• Bitbuy and Coinsquare crypto trading platforms continue to experience increased user activity and account sign-ups, with a year-over-year increase of 82 per cent in active users in January.

"The board is pleased with the company's operational performance and continued progress towards surpassing its growth targets for 2024. We are impressed with the management team's ability to achieve positive EBITDA during the last quarter, ahead of schedule," shared Michael Wekerle, board co-chair. "Under Mr. Skurka's leadership, we believe there is a continued opportunity to create meaningful shareholder value," added Mr. Wekerle.

About Wonderfi Technologies Inc.

Wonderfi owns and operates leading digital asset businesses in Canada. Wonderfi is the holding company for Bitbuy and Coinsquare, two of Canada's largest crypto trading platforms and SmartPay, a crypto payments processing platform.

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