PRICESMART ANNOUNCES FISCAL 2025 THIRD QUARTER OPERATING RESULTS AND CHILE AS A POTENTIAL NEW MARKET

NET MERCHANDISE SALES GREW 8.0% COMPARABLE NET MERCHANDISE SALES INCREASED 7.0% $1.14EARNINGS PER DILUTED SHARE

PriceSmart, Inc. (“PriceSmart” or the “Company”) (NASDAQ: PSMT), operator of 55 warehouse clubs in 12 countries and one U.S. territory, today announced results for the fiscal thirdquarter of 2025, which ended on May31, 2025.

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Third Quarter Financial Results

Total revenues for the third quarter of fiscal year 2025 increased7.1% to $1.32 billioncompared to $1.23 billionin the comparable period of the prior year. For the third quarter of fiscal year 2025, net merchandise sales increased8.0% to $1.29 billionfrom $1.19 billion in the third quarter of fiscal year 2024. Net merchandise sales – constant currency increased 9.5% over the comparable prior-year period. Foreign currency exchange rate fluctuations impacted net merchandise sales negatively by $18.6million, or 1.5%, versus the same period in the prior year.

The Company had 55 warehouse clubs in operation as of May31, 2025 compared to 54 warehouse clubs in operation as of May31, 2024.

Comparable net merchandise sales for the 54 warehouse clubs that have been open for greater than 13 ½ calendar months increased 7.0% for the 13-week period ended June1, 2025 compared to the comparable 13-week period of the prior year. Comparable net merchandise sales – constant currency for the 13 weeks ended June1, 2025 increased 8.5%. Foreign currency exchange rate fluctuations impacted comparable net merchandise sales negatively by 1.5% versus the same period in the prior year.

The Company recorded operating income during the fiscal third quarter of $56.2million compared to operating income of $49.9million in the prior-year period. Net income increased 8.2% to$35.2million, or $1.14per diluted share, in the third quarter of fiscal year 2025 compared to $32.5million, or $1.08per diluted share, in the third quarter of fiscal year 2024.

Adjusted EBITDA for the third quarter of fiscal year 2025 was $79.0 million compared to $71.0 million in the same period last year.

Year-to-Date Financial Results

Total revenues for the nine months ended May 31, 2025 increased 6.8% to $3.94 billion compared to $3.69 billion in the comparable period of the prior year. For the first nine months of fiscal year 2025, net merchandise sales increased 7.2% to $3.85 billion from $3.59 billion in the comparable prior-year period. Net merchandise sales – constant currency increased 8.2% over the comparable prior year period. Foreign currency exchange rate fluctuations impacted net merchandise sales negatively by $38.0 million, or 1.0%, versus the same period in the prior year.

Comparable net merchandise sales for the 54 warehouse clubs that have been open for greater than 13 ½ calendar months increased 6.5% for the 39-week period ended June 1, 2025 compared to the comparable 39-week period of the prior year. Comparable net merchandise sales – constant currency for the 39 weeks ended June 1, 2025 increased 7.6%. Foreign currency exchange rate fluctuations impacted comparable net merchandise sales negatively by 1.1% versus the same period in the prior year.

The Company recorded operating income during the first nine months of fiscal year 2025 of $179.8 million compared to operating income of $171.7 million in the prior-year period. Net income increased 6.0% to $116.3 million, or $3.80 per diluted share, in the first nine months of fiscal year 2025 compared to $109.8 million, or $3.62 per diluted share, in the first nine months of fiscal year 2024.

Adjusted EBITDA for the first nine months of fiscal year 2025 was $245.1 million compared to $232.9 million in the same period last year.

New Potential Market

The Company continues to pursue opportunities to add new warehouse clubs in existing markets and to assess opportunities in new markets. In particular, the Company is currently evaluating Chile as a potential new market for multiple PriceSmart warehouse clubs. The Company has hired local consultants to help in this process and is actively looking for potential sites for new warehouse clubs in Chile. However, opening PriceSmart warehouse clubs in Chile remains subject to finding appropriate sites for warehouse clubs and distribution facilities, the results of continuing market analyses and receipt of required governmental permits, among other uncertainties.

Note Regarding Non-GAAP (Generally Accepted Accounting Principles) Financial Measures

The foregoing discussion of the Company's operating results includes references to adjusted EBITDA, net merchandise sales – constant currency and comparable net merchandise sales – constant currency, which are non-GAAP financial measures. We believe these supplemental measures are useful to investors and analysts because they exclude items that we do not believe are indicative of our core operating performance. These non-GAAP financial measures are defined and reconciled to the most comparable GAAP measures later in this document.

Conference Call Information

PriceSmart management will host a conference call at 12:00 p.m. Eastern time (9:00 a.m. Pacific time) on Monday, July14, 2025, to discuss the financial results. Individuals interested in participating in the conference call may do so by dialing toll free (800) 549-8228 or (646) 564-2877 for international callers and asking to join the PriceSmart earnings call. A digital replay will be available shortly following the conclusion of the call through Monday, July21, 2025 by dialing (888) 660-6264 for domestic callers, or (646) 517-3975 for international callers, and entering replay passcode 90598#.

AboutPriceSmart

PriceSmart, headquartered in San Diego, owns and operates U.S.-style membership shopping warehouse clubs in Latin America and the Caribbean, selling high quality merchandise and services at low prices to PriceSmart Members. PriceSmart operates 55 warehouse clubs in 12 countries and one U.S. territory (ten in Colombia; ninein Costa Rica; seven in Panama; six in Guatemala; five in Dominican Republic; four each in Trinidad and El Salvador; three in Honduras; two each in Nicaragua and Jamaica; and one each in Aruba, Barbados and the United States Virgin Islands). In addition, the Company plans to open one warehouse club in Quetzaltenango, Guatemala in August 2025 and one warehouse club in La Romana, Dominican Republic in the spring of 2026. Once these two new clubs are open, the Company will operate 57 warehouse clubs.

This press release may contain forward-looking statements concerning PriceSmart, Inc.'s (“PriceSmart”, the “Company” or “we”) anticipated future revenues and earnings, adequacy of future cash flows, future dividends, omni-channel initiatives, proposed warehouse club openings, the Company's performance relative to competitors 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, including the effects of tariffs and/or international trade wards and disruptions to remittances, adverse changes in economic conditions in our 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, employee or business information, cost increases from product and service providers, interruption of supply chains, 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. In addition, these risks are not the only risks that the Company faces. The Company could also be affected by additional factors that apply to all companies operating globally and in the U.S., as well as other risks that are not presently known to the Company or that the Company considers to be immaterial.

For further information, please contact Investor Relations (858) 404-8826 or send an email to ir@pricesmart.com.

PRICESMART, INC.CONSOLIDATED STATEMENTS OF INCOME(UNAUDITED-AMOUNTS IN THOUSANDS, EXCEPT PER SHARE DATA) Three Months Ended Nine Months Ended May 31, May 31, May 31, May 31, 2025 2024 2025 2024Revenues:Net merchandise sales $ 1,289,997 $ 1,194,531 $ 3,848,411 $ 3,590,461Export sales 990 11,586 14,595 30,106Membership income 21,857 19,279 62,971 55,566Other revenue and income 4,445 4,032 13,142 11,720Total revenues 1,317,289 1,229,428 3,939,119 3,687,853Operating expenses:Cost of goods sold:Net merchandise sales 1,086,680 1,008,721 3,242,892 3,024,134Export sales 957 10,935 13,770 28,663Selling, general and administrative:Warehouse club and other operations 125,745 119,053 367,832 346,792General and administrative 47,070 40,434 132,669 114,682Pre-opening expenses 302 26 617 970Loss on disposal of assets 305 350 1,579 872Total operating expenses 1,261,059 1,179,519 3,759,359 3,516,113Operating income 56,230 49,909 179,760 171,740Other income (expense):Interest income 2,486 2,521 7,441 8,612Interest expense (2,762) (3,579) (7,995) (9,688)Other expense, net (6,888) (1,882) (19,050) (11,044)Total other expense (7,164) (2,940) (19,604) (12,120)Income before provision for income taxes and 49,066 46,969 160,156 159,620income (loss) of unconsolidated affiliatesProvision for income taxes (13,917) (14,483) (43,797) (49,895)Income (loss) of unconsolidated affiliates 9 3 (13) 82Net income $ 35,158 $ 32,489 $ 116,346 $ 109,807Net income per share available for distribution:Basic $ 1.14 $ 1.08 $ 3.80 $ 3.62Diluted $ 1.14 $ 1.08 $ 3.80 $ 3.62Shares used in per share computations:Basic 30,070 29,968 30,050 30,052Diluted 30,078 29,968 30,055 30,052PRICESMART, INC.CONSOLIDATED BALANCE SHEETS(AMOUNTS IN THOUSANDS, EXCEPT SHARE DATA) May 31, August 31, 2025 2024 (Unaudited)ASSETSCurrent Assets:Cash and cash equivalents $ 167,961 $ 125,364Short-term restricted cash 3,488 1,383Short-term investments 94,408 100,165Receivables, net of allowance for credit losses of $52 as of May31, 2025 and 21,249 18,847August31, 2024Merchandise inventories 553,123 528,678Prepaid expenses and other current assets (includes $0 and $4,480 as of May31, 2025 60,550 57,910and August31, 2024, respectively, for the fair value of derivative instruments)Total current assets 900,779 832,347Long-term restricted cash 11,670 9,564Property and equipment, net 968,946 936,108Operating lease right-of-use assets, net 110,262 96,415Goodwill 43,231 43,197Deferred tax assets 36,772 36,618Other non-current assets (includes $1,005 and $1,482 as of May31, 2025 and 65,910 61,563August31, 2024, respectively, for the fair value of derivative instruments)Investment in unconsolidated affiliates 6,870 6,882Total Assets $ 2,144,440 $ 2,022,694LIABILITIES AND EQUITYCurrent Liabilities:Short-term borrowings $ 18,676 $ 8,007Accounts payable 499,088 485,961Accrued salaries and benefits 49,281 48,263Deferred income 43,403 38,079Income taxes payable 4,045 6,516Other accrued expenses and other current liabilities (includes $425 and $1,179 as of 43,571 50,035May31, 2025 and August31, 2024, respectively, for the fair value of derivativeinstruments)Operating lease liabilities, current portion 7,356 7,370Dividends payable 19,411 -Long-term debt, current portion 16,955 35,917Total current liabilities 701,786 680,148Deferred tax liability 1,248 1,644Long-term income taxes payable, net of current portion 4,644 4,762Long-term operating lease liabilities 118,912 103,890Long-term debt, net of current portion 86,170 94,443Other long-term liabilities (includes $3,856 and $2,100 for the fair value of derivative 17,487 14,842instruments and $13,631 and $12,742 for post-employment plans as of May31, 2025and August31, 2024, respectively)Total Liabilities 930,247 899,729Stockholders' Equity:Common stock $0.0001 par value, 45,000,000 shares authorized; 32,688,210 and 3 332,570,858 shares issued and 30,753,891 and 30,635,556 shares outstanding (net oftreasury shares) as of May31, 2025 and August31, 2024, respectivelyAdditional paid-in capital 524,348 514,542Accumulated other comprehensive loss (158,870) (164,590)Retained earnings 967,831 890,272Less: treasury stock at cost, 1,934,319 shares as of May 31, 2025 and 1,935,302 shares (119,119) (117,262)as of August31, 2024Total Stockholders' Equity 1,214,193 1,122,965Total Liabilities and Equity $ 2,144,440 $ 2,022,694

Reconciliation of Non-GAAP Financial Measures

The following tables calculate the Company's adjusted EBITDA, net merchandise sales – constant currency and comparable net merchandise sales – constant currency, all of which are considered non-GAAP financial measures. Generally, a non-GAAP financial measure is a numerical measure of a company's performance, financial position or cash flows that either excludes or includes amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with GAAP. These measures are customary for our industry and commonly used by competitors. However, 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 and may not be comparable to similarly titled measures used by other companies in our industry or across different industries.

Adjusted EBITDA

Adjusted EBITDA is defined as net income before interest expense, provision for income taxes and depreciation and amortization, adjusted for the impact of certain other items, including interest income and other income (expense), net. The following is a reconciliation of our Net income to Adjusted EBITDA for the periods presented:

Three Months Ended Nine Months Ended(Amounts in thousands) May 31, May 31, May 31, May 31, 2025 2024 2025 2024Net income as reported $ 35,158 $ 32,489 $ 116,346 $ 109,807Adjustments:Interest expense 2,762 3,579 7,995 9,688Provision for income taxes 13,917 14,483 43,797 49,895Depreciation and amortization 22,757 21,129 65,386 61,114Interest income (2,486) (2,521) (7,441) (8,612)Other expense, net (1) 6,888 1,882 19,050 11,044Adjusted EBITDA $ 78,996 $ 71,041 $ 245,133 $ 232,936(1) Primarily consists of transaction costs of converting the local currencies into available tradable currencies in some of our countries with liquidity issues and foreign currency losses or gains due to the revaluation of monetary assets and liabilities (primarily U.S. dollars) for the three and ninemonths ended May31, 2025 and 2024.

Net Merchandise Sales – Constant Currency and Comparable Net Merchandise Sales – Constant Currency

As a multinational enterprise, we are exposed to changes in foreign currency exchange rates. The translation of the operations of our foreign-based entities from their local currencies into U.S. dollars is sensitive to changes in foreign currency exchange rates and can have a significant impact on our reported financial results. We believe that constant currency is a useful measure, indicating the actual growth of our operations. When we use the term “net merchandise sales – constant currency,” it means that we have translated current year net merchandise sales at prior year monthly average exchanges rates. Net merchandise sales – constant currency results exclude the effects of foreign currency translation. Similarly, when we use the term “comparable net merchandise sales – constant currency,” it means that we have translated current year comparable net merchandise sales at prior year monthly average exchanges rates. Comparable net merchandise sales – constant currency results exclude the effects of foreign currency translation.

Net merchandise sales growth rate on a net merchandise sales – constant currency basis is calculated as follows:

May 31, 2025 Three Months Ended Nine Months Ended(Amounts in thousands, except % growth) Net % Growth Net % Growth merchandise Merchandise sales SalesNet merchandise sales $ 1,289,997 8.0% $ 3,848,411 7.2%Unfavorable impact of foreign currency exchange (18,591) (1.5)% (37,998) (1.0)%Net merchandise sales on a constant-currency basis $ 1,308,588 9.5% $ 3,886,409 8.2%

Comparable net merchandise sales growth rate on a net merchandise sales – constant currency basis is calculated as follows:

June1, 2025 Thirteen Weeks Ended Thirty-Nine Weeks Ended % Growth % GrowthComparable net merchandise sales 7.0% 6.5%Unfavorable impact of foreign currency exchange (1.5)% (1.1)%Comparable net merchandise sales on a constant-currency basis 8.5% 7.6%

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SOURCE PriceSmart, Inc.

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