DOLLARAMA REPORTS FISCAL 2024 2ND QUARTER RESULTS.

MONTREAL: Dollarama Inc. (TSX: DOL) ("Dollarama" or the "Corporation") today reported its financial results for the second quarter ended July 30, 2023.

Fiscal 2024 Second Quarter Highlights Compared to Fiscal 2023 Second Quarter Results

Sales increased by 19.6% to $1,455.9 million

Comparable store sales increased by 15.5% over and above a 13.2% growth the previous year

EBITDA increased by 23.8% to $457.2 million, or 31.4% of sales, compared to 30.4% of sales

Operating income increased by 27.6% to $366.8 million, or 25.2% of sales, compared to 23.6% of sales

Diluted net earnings per common share increased by 30.3% to $0.86 from $0.66

18 net new stores opened, compared to 13 net new stores

2,858,160 common shares repurchased for cancellation for a total consideration of $248.1 million

"Once again this quarter, we delivered excellent operational and financial results, including notable growth in comparable store sales, EBITDA and earnings per share. Our performance year to date for this fiscal year reflects our differentiated ability to provide compelling value across our broad product mix and a consistent shopping experience. Dollarama continues to deliver unparalleled value to a growing number of consumers seeking affordable everyday products at low price points, and we expect this strong demand to persist through the second half of the year in the current macro-economic context," said Neil Rossy, President and CEO.

Explanatory Notes

All comparative figures that follow are for the second quarter ended July 30, 2023, compared to the second quarter ended July 31, 2022. All financial information presented in this press release has been prepared in accordance with generally accepted accounting principles in Canada ("GAAP") as set out in the CPA Canada Handbook - Accounting under Part I, which incorporates International Financial Reporting Standards ("IFRS") as issued by the International Accounting Standards Board ("IASB"). EBITDA, EBITDA margin, total debt, net debt and adjusted net debt to EBITDA ratio, which are referred to as "non-GAAP measures", are used to provide a better understanding of the Corporation's financial results. For a full explanation of the Corporation's use of non-GAAP and other financial measures, please refer to the section entitled "Non-GAAP and Other Financial Measures" of this press release. All references to "Fiscal 2023" are to the Corporation's fiscal year ended January 29, 2023, and to "Fiscal 2024" are to the Corporation's fiscal year...