An anonymous director reports

KITS EYECARE ANNOUNCES RECORD WEEK AND REVISES Q3 2024 GUIDANCE UPWARDS, ANTICIPATING HIGHER REVENUE THAN PREVIOUSLY FORECASTED

Kits Eyecare Ltd. has upwardly revised its third quarter 2024 revenue guidance.

The company expects Q3 revenue to exceed the previously guided range of $39-million to $41-million. The revised revenue outlook will exceed a 32-per-cent growth rate year over year.

This revision follows a record-breaking week of ordered sales of approximately $3.5-million for the week ending Aug. 31, 2024. This performance, including records in sales Canada, has contributed significantly to the increased confidence in the company's Q3 guidance.

In the Q2 2024 earnings release, Kits provided a revenue guidance range of $39-million to $41-million for Q3 2024. As the company approaches the end of the quarter, stronger-than-expected demand and improved performance has led management to revise the outlook upward. The updated guidance reflects the company's continuing momentum and operational strength.

Outlook for adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) as a percentage of revenue remains between 3 per cent and 5 per cent.

This revision aligns with Kits's continuing strategy to deliver consistent growth and operational excellence while maintaining transparency with its investors and stakeholders.

About Kits Eyecare Ltd.

Kits makes eyecare easy. Kits is a leading, vertically integrated digital eyecare brand providing eyewear for eyes everywhere. The company offers customers access to a vast selection of contact lenses and eyeglasses, including its own exclusive Kits-designed products, as well as a robust suite of on-line vision tools. Kits's efficient digital platform, backed by its industry-leading manufacturing and designs, removes intermediaries and enables it to offer great prices and deliver made-to-order personalized products with incredible care and accuracy. The company is creating disruption in the industry by constantly pursuing cutting-edge technologies to enable the best customer experience, including on-line eyewear fitting tools and virtual try-on for glasses. Kits strives to delight its customers with its competitive prices, a convenient digital shopping experience, fast and reliable delivery options, and an unrelenting focus on earning its customers' lifelong trust.

We seek Safe Harbor.