Press Release.

• The Company secured a $20M senior secured credit facility
• Store profits increased by 123% to $118,342
• Sales increased by 98% to $4,446,781
• Gross profits increased by 261% to $1,305,685
• Product gross margins increased by 10.7% to 41.3%

TORONTO, ON – June 28, 2023 – PesoRama Inc. (TSXV: PESO) (“PesoRama” or the “Company“), a Canadian company operating dollar stores in Mexico under the JOi Canadian Stores brand, today announced its financial results for the first quarter ended April 30, 2023 (“Q1 2023”). All financial figures are in Canadian dollars unless otherwise noted.

“As the only true dollar store company in Mexico, we are constantly innovating and pushing the boundaries of what is possible,” said Erica Fattore, President & CEO of PesoRama. “Creating a new market space requires strategic thinking, operational excellence, and execution, which is reflected in this quarter’s results. During Q1 2023, we saw a significant increase in-store traffic of 46%, and our average ticket grew by 14.2% over Q1 2022. We attribute this to the success of our unique merchandising strategies, product assortment, and overall customer experience. Our JOi Dollar Plus Stores are increasing in popularity as we continue to expand our footprint and raise the bar in our market. We believe we have the winning strategy and we are meeting the needs of the cost-conscious shopper in an underserved market that will ultimately drive long-term value for our shareholders. We have big ambitions and will continue to think outside the box to set ourselves apart.”

Key Financial Highlights: Q1 2024 vs Q1 2023

• Multi-price points continue to lead to increased product assortment and increased growth of new product categories across all departments.
• Store profits increased by 123% to $118,342 for the three-months ended April 30, 2023, an increase of $630,953 from the three months ended April 30, 2022.
• Total sales increased by 98% to $4,446,781 due to organic growth of previously opened stores as well as sales from new stores which opened in April 2022, May 2022 and December 2022.
• Gross profits increased by $944,063 to $1,305,685, primarily driven by an increase in revenue of 98% compared to an increase in cost of sales of only 67%.
• Product gross margins increased by $1,836,518 or 41.3% compared to $686,599 or 30.6% due primarily to an increase in revenue for higher prices items resulting from the introduction of the multi-price strategy and assortment mix.

Other Performance Metrics: Q1 2024 vs Q1 2023

• Sales units increased by 44% as a result of increase in demand, increased product assortment and mix
• Same store sales increased by 43% in Q1 2023 compared to Q1 2022
• Average ticket increased by 14.2%

Key Achievements YTD 2023

• On June 9, 2023, the Company secured a $20M senior secured credit facility to finance their expansion plans
• In January 2023, the Company closed a private placement through the issuance of 17,760,264 units of the Company at a price of $0.15 per Unit for gross proceeds of $2,664,039.60. Each Unit was comprised of one common share and one common share purchase warrant.

This earnings news release should be read in conjunction with the Company’s condensed consolidated interim financial statements for the three-month period ending April 30, 2023, which can be found on PesoRama’s issuer profile on SEDAR at www.sedar.com.