Mr. Paul Andreola reports

NAMESILO TECHNOLOGIES CORP. ANNOUNCES 2023 YEAR END AND 2024 Q1 RESULTS RECORD ANNUAL AND QUARTERLY REVENUES

Namesilo Technologies Corp. has released the financial results for the year ended Dec. 31, 2023, and the quarter ended March 31, 2024. The financial statements and related management's discussion and analysis can be viewed on SEDAR+.

Financial highlights of the company

The company experienced financial results in fiscal 2023 as set forth below:

• Record annual revenues of $48,962,799 for year-end 2023 as compared with $45,003,750 in 2022, an increase of 8.8 per cent; the increase in revenues for 2023 was due to an increase in domains under management, due to marketplace revenues and from the sale of ancillary services;
• Gross profit of $8,879,213 or 18.1 per cent of revenues versus $8,016,528 or 17.8 per cent in 2022;
• Operating income of $1,868,348 in 2023 compared with $1,965,956 in 2022;
• Net loss of $1,284,638 in 2023 compared with a net loss of $2,114,110 in 2022;
• Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) of $2,486,240 for 2023, up 649 per cent as compared with $332,130 in 2022;
• Total bookings of $49,898,134 in 2023 compared with $46,408,578 in 2022;
• Total deferred revenues of $26,264,921 as of Dec. 31, 2023, versus $25,586,468 at Dec. 31, 2022.

The company experienced financial results in fiscal first quarter 2024 as set forth below:

• Record revenues of $12,801,965 for Q1 2024 as compared with $11,908,958 in Q1 2023, an increase of 7.5 per cent; the increase in revenues for Q1 2024 was due to an increase in domains under management, due to marketplace revenues and from the sale of ancillary services;
• Gross profit of $2,661,498 or 20.8 per cent of its revenues in Q1 2024 versus $2,086,178 or 17.5 per cent in Q1 2023;
• Record operating income of $1,132,805 for Q1 2024 compared with $328,322 in Q1 2023;
• Net income of $1,214,490 in Q1 2024 compared with net loss of $1,817,219 in Q1 2023;
• Record adjusted EBITDA of $1,379,448 for Q1 2024, up 323 per cent as compared with $326,369 in Q1 2023;
• Total bookings of $13,984,557 in Q1 2024 compared with $12,568,806 in Q1 2023;
• Total deferred revenues of $27,447,513 as of March 31, 2024, versus $26,264,921 at Dec. 31, 2023;
• Financed two early-stage companies: Ola Media Innovations Inc. and Alchemy Labs Inc.

The above financial results for fiscal Q1 2024 reflect the adjustments made in the amended and restated interim financial statements and management's discussion and analysis for the three months ended March 31, 2024, due to an overstatement of digital currency gain. The adjustments resulted in a decrease in registry deposits and accumulated other comprehensive loss. The details of the adjustments are set forth in the A&R financial statements and MD&A filed on SEDAR+ on July 3, 2024.

Namesilo LLC has grown to over 4.89 million active domains under management and customers in approximately 160 countries. Since acquiring Namesilo in August, 2018, the new management team has increased revenues from full-year 2017 revenues of approximately $10.6-million to over $48.96-million in 2023. Domains under management have grown from 1.85 million to over 4.89 million today. The company has also invested significant resources to offer new products and services, which have helped to increase revenues and improve gross margins. The company offers hosting services, e-mail products, a free logo maker, security products, several new domain services and more all while maintaining some of the lowest prices in the industry. Namesilo now accepts over 150 payment methods, including most major credit cards and Web money payments such as Apple Pay, Venmo, Alipay and more. The company was also one of the first companies in the industry to accept bitcoin.

Namesilo LLC will focus on adding value-added products to offer customers a one-stop source for essential services related to their domains. The company believes that these new products will further increase core revenues and margin growth for Namesilo, improve customer retention, and improve the value proposition to the customer base.

About Namesilo Technologies Corp. and Namesilo LLC

Namesilo invests its capital in companies and opportunities which management believes are undervalued and have potential for significant appreciation. The company makes investments in both public and private markets, and focuses on opportunities in a wide variety of industries excluding the resource and resource service sectors. Namesilo does not invest on behalf of any third party, and it does not offer investment advice.

Namesilo LLC is a low-cost provider of domain name registration and management services. As an accredited ICANN registrar, Namesilo is one of the fastest-growing domain registrars in the world with approximately 4.89 million active domains under management from approximately 160 countries.

We seek Safe Harbor.