Mr. Paul Andreola reports

NAMESILO TECHNOLOGIES CORP. ANNOUNCES Q2 2024 RESULTS

Namesilo Technologies Corp. has released its financial results for the quarter ending June 30, 2024. The financial statements and related management's discussion and analysis (MD&A) can be viewed on SEDAR+.

Financial highlights of the company

The company experienced financial results in fiscal Q2 (second quarter) 2024 as set forth below (all figures in Canadian dollars):

• Seventh consecutive quarter and sixth year of consecutive revenue growth;
• 11th consecutive quarter of net operating income;
• Record revenues of $13,175,765 for Q2 2024, as compared with $12,008,757 in Q2 2023, an increase of 9.7 per cent. The increase in revenues for Q2 2024 was due to an increase in domains under management, marketplace revenues and from the sale of ancillary services;
• Gross profit of $2,883,791 or 21.9 per cent of its revenues in Q2 2024, versus $2,103,915 or 17.5 per cent in Q2 2023. Highest gross margin in company's history;
• Operating income of $941,525 for Q2 2024, compared with $253,907 in Q2 2023;
• Net income of $225,208 in Q2 2024, compared with a net income of $828,011 in Q2 2023. The lower net income is primarily due to a loss on investments of $440,197;
• Adjusted EBITDA* (earnings before interest, taxes, depreciation and amortization) of $1,131,093 for Q2 2024, as compared with $1,085,704 in Q2 2023;
• Adjusted EBITDA* of $2,510,541 in H1 (first half) 2024, as compared with $1,412,073 in H1 2023;
• Total bookings* of $15,397,276 in Q2 2024, compared with $12,164,223 in Q2 2023;
• Total deferred revenues of $29,669,024 as of June 30, 2024, versus $26,401,782 at June 30 2023;
• Cash and cash equivalents of $2,911,548;
• Investments holdings totalling $4,170,939.

"We are extremely pleased with the ongoing growth of our operating business," commented Paul Andreola, chief executive officer of Namesilo Technologies. "Q2 was another record quarter in terms of revenues and gross margin with a significant increase in free cash flow. The company has never been better positioned to grow and deploy capital in our existing portfolio companies, pursue new investment opportunities, as well as continue our share buyback strategy. We would like to thank all our employees, customers and shareholders for their support and hard work."

Namesilo LLC has grown to over 4.94 million active domains under management and customers in approximately 160 countries. Since acquiring Namesilo in August, 2018, the new management team has grown 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 4.94 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 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.

Namesilo Technologies invests its capital in companies and opportunities that 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 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 4.75 million active domains under management from approximately 160 countries.

* Non-IFRS (international financial reporting standards) financial measure

Readers are cautioned that adjusted EBITDA and total bookings are measures not recognized under IFRS. Adjusted EBITDA is defined as earnings before interest income, taxes, depreciation and amortization, share-based compensation, restructuring costs, impairment charges, and other non-recurring gains or losses. Management believes adjusted EBITDA is a useful measure that facilitates period-to-period operating comparisons. Total bookings includes the full amount of cash received from new domain bookings, renewals and other related services. Whereas, under IFRS, the company records revenue from domain booking and renewal fees on a straight-line basis over the life of the contract term. However, the company's management believes that total bookings provides investors with insight into management's decision-making process because management uses this measure to run the business and make financial, strategic and operating decisions. Further, total bookings also provides useful insight into the company's operating performance on a yearly basis. Total bookings do not have standardized meanings prescribed by IFRS and therefore may not be comparable with similar measures presented by other issuers. Readers are cautioned that adjusted EBITDA and total bookings are not an alternative to measures determined in accordance with IFRS, and should not, on their own, be construed as indicators of performance, cash flow or profitability.

We seek Safe Harbor.