Mr. Dean Skurka reports

WONDERFI REPORTS RECORD FOURTH QUARTER AND FULL YEAR 2023 RESULTS

Wonderfi Technologies Inc. has released its financial results for the three and 12 months ended Dec. 31, 2023. All financial references are in Canadian dollars unless otherwise noted.

This news release constitutes "a designated news release" for the purposes of Wonderfi Technologies Inc.'s prospectus supplement dated December 23, 2022, to its short form base shelf prospectus dated September 7, 2022.

Key Financial Highlights for Q4 2023:

• Bitbuy, Coinsquare and SmartPay generated combined revenues of $12.9 million, at the high end of the range of guidance, in Q4 2023. This represents a 395 per cent increase in quarterly combined revenues as compared with Q4 2022.
• Cash and digital assets balance increased to $37.3 million, and total investments increased to $20 million, totalling $57.3 million as of December 31, 2023.
• Generated EBITDA of $6.7 million, representing 52 per cent of revenue. This compares with negative EBITDA of $7.5 million in Q3 2023 and negative EBITDA during each quarter of fiscal year 2022.
• Net income for the quarter increased to $4 million or $0.01 per share. This compares with a net loss of $10 million or ($0.02) per share in Q3 2023 and a net loss during each quarter of fiscal year 2022.
• Total operating expenses for Q4 2023 decreased by 35 per cent compared to calendar Q4 2022 and decreased by 22 per cent compared to Q3 2023, reflecting the Company's continued cost savings programs and streamlining of back-office functions for Bitbuy, Coinsquare and SmartPay.

Operating Highlights for Fiscal Year 2023:

• Wonderfi wholly owned platforms processed over $2.5 billion in crypto trading volumes, and $625 million in payment processing volumes during Fiscal Year 2023. Bitbuy and Coinsquare surpassed $1 billion in client assets under custody as at December 31, 2023, an increase of 44 per cent compared with $698 million at the end of Q3 2023.
• Completed the acquisitions of Coinsquare Ltd., and CoinSmart Financial Inc., and the client accounts of Bitvo Inc., establishing Wonderfi as the largest crypto ecosystem in Canada with over 1.6 million registered users.
• Successfully migrated the Coinberry, CoinSmart, and Bitvo client accounts on to the Bitbuy platform, realizing significant operational and cost synergies.

Subsequent to Fiscal Year 2023:

• Received a distribution of 61,700 unlocked Solana tokens worth $8.8 million at the time of receipt, and 159,100 of unlocked Polkadot tokens worth $2.1 million at the time of receipt, from one of its existing investments.
• Coinsquare launched staking with the largest selection of stakeable assets of any CIRO dealer member, and has seen over $15 million total staked since its February launch. Entered into an agreement to purchase FX Institutions Pty. Ltd, an Australian company registered to offer crypto trading and payment remittances in the region (agreement subject to regulatory approval).

"Wonderfi had a breakout year in 2023, highlighted by three acquisitions, improved financial results and sequential growth across our operating platforms. The Company strengthened its financial position through positive operating earnings on a consolidated basis in Q4 and entered 2024 with $37.4 million of cash and digital assets with no debt," said Dean Skurka, Chief Executive Officer & President.

"Wonderfi's focus for the year ahead is sustainable growth by continuing to scale its existing platforms, while strategically working to expand our product offerings into new markets, such as Australia. With market conditions improving significantly throughout the industry, Wonderfi will continue to demonstrate its ability to generate consistent growth and profitability in 2024," continued Mr. Skurka.

Access to Financial Statements and Management Discussion and Analysis

Complete financial statements along with related management discussion and analysis can be found in the System for Electronic Document Analysis and Retrieval ("SEDAR+"), the electronic filing system for the disclosure documents of issuers across Canada at www.sedarplus.ca.

ABOUT WONDERFI

Wonderfi owns and operates Bitbuy and Coinsquare, two leading domestic crypto platforms with strongholds in the Canadian market; Wonderfi operates Internationally through its expansion in Australia, as well as through Smartpay, its global crypto payments platform.

With a collective user base of over 1.6 Million registered Canadians and a combined assets under custody exceeding $1.5 Billion, Wonderfi serves one of the largest crypto investor communities in Canada.

We seek Safe Harbor.