PriceSmart Announces the Release of Results and Conference Call Details for the First Quarter of Fiscal 2022

SAN DIEGO, December 17, 2021 / PRNewswire / – PriceSmart, Inc. (NASDAQ: PSMT) Expects to Release First Quarter Fiscal 2022 Financial Results on Thursday, January 6, 2022, after the market closes. PriceSmart management will organize a conference call at 12:00 p.m. Eastern Time (9:00 a.m. Pacific Time) to Friday, January 7, 2022, to discuss the financial results. Those interested in participating in the conference call can do so by dialing toll-free (855) 209-8211 or (412) 317-5214 for international callers and requesting to join the call PriceSmart, Inc .. A digital replay will be available via January 14, 2022, at the end of the call by dialing (877) 344-7529 for domestic callers, or (412) 317-0088 for international callers, and entering the replay access code 6014456.

PriceSmart, Inc.

About PriceSmart

PriceSmart, headquartered at San Diego, owns and operates American-style commercial warehouse clubs in Latin America and the Caribbean, selling high quality goods and services at low prices to PriceSmart members. PriceSmart operates 49 warehouse clubs in 12 countries and one American territory (nine in Colombia; eight in Costa Rica; seven in Panama; five in the Dominican Republic and Guatemala, four in Trinity; three in Honduras; two each in El Salvador and Nicaragua; and one each in Aruba, Barbados, Jamaica and the US Virgin Islands). The Company also plans to open a new warehouse club in Portmore, Jamaica in April 2022. Once this new club opens, the Company will operate 50 warehouse clubs.

This press release may contain forward-looking statements regarding the anticipated future income and profits of the Company, the adequacy of future cash flows, omnichannel initiatives, proposals to open warehouse clubs, the performance of the Company in relation to to its competitors, the outcome of tax proceedings and related matters. These forward-looking statements include, without limitation, statements containing the words “expect”, “believe”, “will”, “could”, “should”, “plan”, “estimate”, “anticipate” , “Planned”, “intend” and similar expressions, and the negative thereof. These statements are subject to risks and uncertainties which could cause actual results to differ materially, including, but without limitation: adverse changes in economic conditions in the Company’s markets, natural disasters, compliance risks, exchange rate volatility and the illiquidity of certain local currencies in our markets, competition, spending habits of consumers and small businesses, political instability, increased costs associated with integrating e-commerce with our traditional businesses, if the Company can successfully execute strategic initiatives, cybersecurity breaches that could disrupt our systems or jeopardize the security of member or company information, cost increases for product and service providers, disruption of supply chains, drivers and challenges related to COVID-19, including, among others, the duration of the pandemic, the unknown long-term economic impact, the impact of government policies and restrictions that have access limits for our members, and changing demand discretionary or more expensive products to cheaper products, exposure to product liability claims and product recalls, collectability of money owed to PriceSmart by governments, and other important factors discussed in the Risk Factors section the most recent annual report of the Company 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 on which they are made and the Company does not undertake to update them, except as required by law.

For more information, please contact Michael L. McCleary, EVP, Chief Financial Officer and Principal Accounting Officer (858) 404-8826 or send an email to [email protected]

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SOURCE PriceSmart, Inc.

Michael P. Boser