• Expects Positive EBITDA of $5.5 to $6.5 Million for the Quarter as the Value From the Transformational Three-Way Merger Continues to be Unlocked

• Strong Sequential Net Revenue Growth in Q1 2024 a Result of Significant Operating Leverage to Cryptocurrency Adoption and Demand
   

• Total cash, digital assets of over $50.0 million as of March 31, 2024

Toronto, Ontario--(Newsfile Corp. - April 3, 2024) - WonderFi Technologies Inc. (TSX: WNDR) (OTCQB: WONDF) (WKN: A3C166) (the "Company" or "WonderFi") today announced certain corporate updates and unaudited first quarter financial estimates for the period ended March 31, 2024. All financial references are in Canadian dollars unless otherwise noted.

This news release constitutes "a designated news release" for the purposes of the Company's prospectus supplement dated December 23, 2022, to its short form base shelf prospectus dated September 7, 2022.

Q1 Financial Guidance:

• Net revenue in the range of $18 - $18.75 million. At the mid-point, this represents an increase of 42% compared to Q4 2023.

• Cash and digital assets balance increased to more than $50.0 million as of March 31, 2024.

• WonderFi expects to generate positive EBITDA of $5.5-$6.5 million, and operating earnings of $3 - $4 million on a consolidated-basis for the quarter.

• As of March 31, 2024, combined client assets under custody (AUC) for Bitbuy and Coinsquare exceed $1.5 B.

Q1 Corporate Updates:

• Bitbuy and Coinsquare facilitated over $1 billion in combined trading volumes during the quarter.

• SmartPay processed over $140 million in crypto payment volumes during the quarter.

• Bitbuy and Coinsquare had approximately $95 million in crypto staked as of March 31, 2024.

"WonderFi continues to create exceptional value for shareholders through ongoing growth initiatives and operational efficiencies. The Company's ability to successfully integrate five leading businesses through consolidation and streamlining of operations, allowed us to execute our plan amid an improved backdrop for digital assets during the first quarter. In less than a year following our transformational merger, we have been able to see the results of our vision to combine prominent digital assets businesses into a market leader in the digital asset industry," commented Dean Skurka, President and Chief Executive Officer of WonderFi.

"Achieving positive non-adjusted EBITDA during the previous two quarters marks a pivotal milestone for WonderFi and a reflection of the efforts of the entire WonderFi team to continue generating growth and profitability for shareholders. For Q1 2024, WonderFi achieved another quarter of increased total revenue and finance income, further reflecting the strength of our business and operating platforms," added Mr. Skurka.