Ms. Olivia Evans reports

KITS EYECARE REPORTS PRELIMINARY FOURTH QUARTER AND FULL YEAR 2024 RESULTS

Kits Eyecare Ltd. has provided selected preliminary unaudited results for its fourth quarter and full year ended Dec. 31, 2024.

Select fourth quarter 2024 financial highlights (unaudited):

• Total revenue grew 42 per cent year over year to approximately $44.8-million.
• Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) increased year over year to exceed 6 per cent of revenue.
• Cash position remains strong at $19.3-million.
• Glasses revenue growth accelerated to approximately 60 per cent year over year.

Select full-year 2024 financial highlights (unaudited):

• Full-year revenue grew 32 per cent year over year to approximately $159.3-million.
• Adjusted EBITDA increased year over year to exceed 4 per cent of revenue.

The company looks forward to reporting the audited fourth quarter and full-year 2024 results in early March, 2025. Details for the fourth quarter 2024 conference call will be disclosed in February.

About Kits Eyecare Ltd.

Kits makes eyecare easy. Kits is a leading vertically integrated digital eyecare brand providing eyewear for eyes everywhere. Kits offers customers access to a vast selection of contact lenses and eyeglasses, including the company's own exclusive Kits designed products as well as a robust suite of on-line vision tools. The company's efficient digital platform, backed by its industry-leading manufacturing and designs, removes intermediaries and enables Kits to offer great prices and deliver made-to-order personalized products with incredible care and accuracy. Kits 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.