PriceSmart : Q4 2023 Investor Presentation

PriceSmart, Inc.

Overview Presentation Issued October 2023

NASDAQ: PSMT

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Forward Looking Statements:

This presentation may contain forward-looking statements concerning the Company's anticipated future revenues and earnings, adequacy of future cash flows, omni-channel initiatives, proposed warehouse club openings, the Company's performance relative to competitors, the outcome of tax proceedings and related matters. These forward-looking statements include, but are not limited to, statements containing the words "expect," "believe," "will," "may," "should," "project," "estimate," "anticipated," "scheduled," "intend," and like expressions, and the negative thereof. These statements are subject to risks and uncertainties that could cause actual results to differ materially including, but not limited to: various political, economic and compliance risks associated with our international operations, adverse changes in economic conditions in the Company's markets, natural disasters, volatility in currency exchange rates and illiquidity of certain local currencies in our markets, competition, consumer and small business spending patterns, political instability, increased costs associated with the integration of online commerce with our traditional business, whether the Company can successfully execute strategic initiatives, our reliance on third-party service providers, including those who support transaction and payment processing, data security and other technology services, cybersecurity breaches that could cause disruptions in our systems or jeopardize the security of member or business information, cost increases from product and service providers, interruption of supply chains, novel coronavirus (COVID-19) related factors and challenges, exposure to product liability claims and product recalls, recoverability of moneys owed to PriceSmart from governments, and other important factors discussed in the Risk Factors section of the Company's most recent Annual Report on Form 10-K, and other factors discussed from time to time in other filings with the SEC, which are accessible on the SEC's website at www.sec.gov, including Quarterly Reports on Form 10-Q and Current Reports on Form 8-K.Forward-looking statements speak only as of the date that they are made, and the Company does not undertake to update them, except as required by law.

Non-GAAP Financial Measures:

In addition to relevant GAAP measures, we also provide non-GAAP measures including adjusted net income, adjusted net income per diluted share, adjusted EBITDA and net merchandise sales - constant currency because management believes these metrics are useful to investors and analysts by excluding items that we do not believe are indicative of our core operating performance. These measures are customary for our industry and commonly used by competitors. These non-GAAP financial measures should not be reviewed in isolation or considered as an alternative to any other performance measure derived in accordance with GAAP. In addition, adjusted net income, adjusted net income per diluted share, adjusted EBITDA and net merchandise sales - constant currency may not be comparable to similarly titled measures used by other companies in our industry or across different industries. A reconciliation of these non-GAAP financial measures to the most comparable GAAP financial measures are included in the Appendix to this presentation.

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BUSINESS OVERVIEW

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OUR ORIGINS

FedMart	FOUNDED
1954

Founded in San Diego, California in 1954

Founders: Sol Price and local investors

Founding Principles: Duty to our Customers

• Customers come first
• Sell only quality merchandise
• Keep prices consistently low
• Price all merchandise fairly
• Offer private label for additional value
• Treat all customers the same with courtesy and attentiveness
• Label and package merchandise honestly

By 1971 FedMart had 43 stores with annual sales in excess of $350 million

PRICE CLUB®	FOUNDED
1976

Founded the wholesale club industry in 1976 in San Diego

Founders: Sol Price and Robert Price

Founding Principles: The Six Rights

• The Right Merchandise: Basic, Seasonal and Exciting new items.
• The Right Time: Merchandise must be "fresh" and in tune with current seasons and trends.
• The Right Place: Position merchandise to maximize the sales of each item.
• The Right Condition: Sell only 1st quality merchandise.
• The Right Quantity: Purchase merchandise in quantities that allow for efficient handling and lower acquisition cost.
• The Right Price: Price merchandise as low as possible. Constantly Every Day Low Prices.

Price Club had 96 locations with $7.6 billion in sales when it merged operations with Costco Wholesale in 1993.

FOUNDED

1993

Price Club and Costco Merger in 1993

• Merger created the second largest membership warehouse chain.
• 195 Warehouses upon merger with revenue of approximately $16 Billion.

FOUNDED

1996

Founded in San Diego in 1996

Founders: Sol Price and Robert Price

Founding Principles:

• Operating under the guiding principles established by FedMart and Price Club.
• Provides a U.S. Style Membership shopping experience for Members providing U.S, international, regional and locally sourced merchandise primarily in emerging markets.

PriceSmart currently operates warehouse clubs in 12 countries and one U.S. territory and has over 1.8 million members.

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OUR HISTORY

1996

1997

1999

2008

2011

2012

2013

2017

2018

2019

2020

2021

2022

2023

2024

First Location

PriceSmart

Expansion

PriceSmart

PriceSmart

PriceSmart

1 Million

PriceSmart

Launch of

Launch of

• Launch of

• Addition of

• Opening of

• Opening of 51st

• Opening of

in Panama

Listed on

into

$1 Billion

Enters

$2 Billion in

PriceSmart

opens new

Direct Farm

PriceSmart

PriceSmart.com,

PriceSmart

50th club -

club -

52nd club -

NASDAQ:

Caribbean

in annual

Colombia

annual

Membership

Miami

for locally

Optical and

online catalogue,

Pharmacy &

Portmore,

San Miguel,

El Poblado

PSMT

Market

revenue

Market

revenue

Accounts &

distribution

sourced

initiation of

in club pickup,

Audiology to

Jamaica

El Salvador

(Medellín),

Launch of

center

produce

wellbeing

and delivery in

wellbeing

Colombia

Platinum

services

all markets

services

• PriceSmart

• Release of

Membership

$4 Billion in

FY2022 ESR Report

• Expected

• Opening of our

• ESR

annual

opening of

Costa Rica

Committee

revenue

• Creation of

Panama

produce

established

Chief

Fulfillment

distribution

Transformation

center and

center

• Healthcare

Officer role

two new clubs

for all

• Launch of the

employees

• Achieved a 4.9%

mobile app

penetration rate of

total net

merchandise sales

through omni-

channel platforms

Note: The years above are referring to the fiscal year calendar for PriceSmart.

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OUR CULTURE

Values

Integrity

Always do the right thing.

Respect

Treat employees, suppliers and Members the way you want to be treated.

Accountability

Deliver on commitments you make to your team and the company.

Passion

Operate great warehouse clubs while putting Members first.

Community

Support and improve the communities we serve.

Continuous Improvement

Try to make things better every day.

Sol Price

Robert E. Price Foreword by Jim Sinegal

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OUR MISSION

PriceSmart exists to improve the lives and businesses of our Members, our employees and our communities through the responsible delivery of the best

quality goods and services at the lowest possible prices. Our mission is to serve as a model company, which operates profitably and provides a good

return to our investors, by providing Members in emerging and developing markets with exciting, high-quality merchandise sourced from around the world and valuable services at compelling prices in safe U.S. style clubs and through PriceSmart.com. We prioritize the well-being and safety of our Members and employees. We provide good jobs, fair wages and benefits and opportunities for advancement. We strive to treat our suppliers right and empower them when we can, including both our regional suppliers and those from around the world. We conduct ourselves in a socially responsible manner as we endeavor to improve the quality of the lives of our Members and their businesses, while respecting the environment and the laws of all the

countries in which we operate. We also believe in facilitating philanthropic contributions to communities in which we do business. We charge Members an

annual membership fee that enables us to operate our business with lower margins than traditional retail stores. As we continue to invest in technological capabilities, we are increasing our tools to drive sales and operational efficiencies. We believe we are well positioned to blend the excitement and appeal of our brick-and-mortar business with the convenience and additional benefits of online shopping and services and, meanwhile, enhance Member experience and engagement.

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OUR SIX RIGHTS VALUE PROPOSITION

The Right

Merchandise

The Right

Price

The Right

Condition

1. For the trailing twelve-month period ended 08/31/2023
2. As of 08/31/2023

The Right

Time

The Right

Place

The Right

Quantity

Squeeze Out Inefficiencies

Limited SKU Selection

Efficient Distribution with Regional and Domestic Distribution Centers Low Margins to Pass Savings onto Members

Leverage Volume Buying

Reinvest in Membership Value

Commitment to Quality

Co-Branded Credit Card and Loyalty Rewards

Enhance Services (omnichannel options, optical, pharmacy, audiology, etc.)

No Charge Optical Exams

Membership Loyalty

86.9% Renewal Rate(1)

1.8 Million Members(2)

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OUR CLUB LOCATIONS

GUATEMALA

Miraflores Pradera Fraijanes

San Cristobal Guatemala City

Escuintla (Expects to open in November 2023)

HONDURAS

Tegucigalpa

San Pedro Sula

El Sauce

PriceSmart operates 52 warehouse clubs in emerging and developing markets that reach 12 countries and one U.S. territory.

EL SALVADOR

Santa Elena

Los Heroes

San Miguel

Santa Ana (Expects to open in early 2024)

COSTA RICA

Zapote

Escazú

Heredia

Llorente

Alajuela

Tres Rios

Santa Ana

Liberia

NICARAGUA

Managua

Masaya

PANAMÁ

Via Brasil

El Dorado

David

Brisas

Costa Verde

Veraguas

Metro Park

		DOMINICAN REPUBLIC
		Los Prados
		Santiago
JAMAICA		Arroyo Hondo
		San Isidro
Kingston	Bolívar

Portmore

ARUBA

Oranjestad

COLOMBIA

Barranquilla

Cañas Gordas

Menga

Pereira

Bogota

Medellín

Chia

Usaquen (Bogota)

Bucaramanga

El Poblado (Medellín) (Opened in September 2023)

USVI

St. Thomas

BARBADOS

St. Michael

TRINIDAD & TOBAGO

Chaguanas

Port of Spain

Mausica

San Fernando

Country

Under Construction

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52 clubs open

2 under construction

1. For the trailing twelve-month period ended 08/31/2023
2. As of 8/31/2023

$4.4 Billion		1.8 Million		Over 2.5 Million sqf		86.9% Membership
TTM Revenue(1)		Memberships(2)		Sales Floor (2)		Renewal Rate(1)	9

OUR DISTRIBUTION NETWORK

DOMINICAN REPUBLIC

Florida	Produce Distribution Center
Global Distribution Center	Domestic Distribution Center

GUATEMALA

Produce Distribution Center

JAMAICA

Domestic Distribution Center

COSTA RICA

Regional Distribution Center

Produce Distribution Center

During the fiscal year 2023:

• 78.8% of net merchandise sales were in currencies other than the U.S. dollar.
• Out of those sales, 48.4% consisted of imported merchandise that we purchased in U.S. dollars.

				TRINIDAD & TOBAGO
PANAMÁ
			Domestic Distribution Center
Domestic Distribution Center
COLOMBIA
Produce Distribution Center
		Domestic Distribution Center
		Produce Distribution Center

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