Pricesmart, Inc. · NASDAQ:PSMT
Pricesmart — Investor Presentation (January 2026)
39 slides from Pricesmart's investor presentation, January 2026
Slide 1: PriceSmart, Inc. Overview Presentation
2026 PriceSmart, Inc. Overview Presentation Issued: January 2026 NASDAQ : PSMT 1
Slide 2: Forward Looking Statements Non-GAAP Financial Measures
Forward Looking Statements This presentation may contain forward-looking statements concerning PriceSmart, Inc.'s ("PriceSmart", the "Company" or "we") anticipated future revenues and earnings, adequacy of future cash flows, omni-channel initiatives, proposed warehouse club openings, the Company's p
Slide 3: Business Overview
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Slide 4: Our Origins
Our Origins FOUNDED FedMart 1954 FOUNDED Founded in San Diego, California in 1954 Founders: Sol Price and local investors 1993 Founding Principles: Duty to our Customers Price Club and Costco Merger in 1993 • Customers come first • Merger created the second largest • Sell only quality merchandise me
Slide 5: Our History
Our History 1996 1997 1999 2008 2011 2012 2013 2017 2019 2020 2021 2022 th 2023 st 2024 nd 2025 2026 First location PriceSmart Expansion PriceSmart PriceSmart PriceSmart 1 Million PriceSmart Launch of •Launch of •Addition of •Opening of 50 •Opening of 51 •Opening of 52 •Opening of •Appointment of th
Slide 6: Our Culture
6 Our Culture Values Integrity • We do what’s right – always. We act with honesty, transparency, and fairness in every decision and relationship. Excellence • We set high standards and continuously improve. From our clubs to our supply chain, we strive to deliver quality, value, and performance in e
Slide 7: Our Mission
Our Mission PriceSmart's mission is to provide all Members an outstanding shopping experience with high quality, exciting merchandise and services at the lowest possible prices. 7
Slide 8: Our Purpose
Our Purpose PriceSmart's purpose is to improve the lives and businesses of our Members, our employees and our communities through the responsible delivery of the best quality goods and services at the lowest possible prices. We aim to serve as a model company, which operates profitably and provides
Slide 9: Our Warehouse Club Membership Model
Our Warehouse Club Membership Model Low Prices: Offering the lowest possible selling price Treasure Hunt: Clubs occasionally feature unique is the foundation of our warehouse club. items categorized as “special purchases” due to their limited availability in inventory. These items are Limited SKUs (
Slide 10: Our Six Rights Value Proposition
Our Six Rights Value Proposition Squeeze Out Inefficiencies Limited SKU Selection The Right Merchandise Efficient Distribution with Regional and In-country The Right Distribution Centers Place Low Margins to Pass Savings onto Members Leverage Volume Buying The Right Reinvest in Membership Value Price
Slide 11: Our Club Locations
Our Club Locations PriceSmart operates 56 warehouse clubs in emerging and developing markets that reach 12 countries and one U.S. territory. * We are continuing to advance our planned expansion into Chile, which we have identified as a potential market for multiple Pricesmart warehouse clubs. We hav
Slide 12: Our Club Locations
Our Club Locations Guatemala Nicaragua Colombia U.S. Virgin Islands • Miraflores • Managua • Barranquilla • St. Thomas • Pradera • Masaya • Cañasgordas • Fraijanes Costa Rica • Menga Barbados • San Cristobal • Pereira • Guatemala City • Zapote • Bogota • St. Michael • Escuintla • Escazú • Medellín •
Slide 13: Our Distribution Network
During the three months of fiscal year 2026: Our Distribution Network 80.9% of net merchandise sales were in currencies other than the U.S. dollar. Out of those sales, 48.4% consisted of imported merchandise that we purchased in U.S. dollars. * Distribution centers run by a third party ** Curren
Slide 14: Our Growth Plan
Our Growth Plan • Invest in Adding New • Increase Membership • Drive Incremental Sales PriceSmart Locations, Value via PriceSmart.com and Expanding into New Enhanced Digital and Markets, Remodeling Technological Current PriceSmart Capabilities Clubs and Opening More Distribution Centers 14
Slide 15: Recent Openings
Recent Openings October 2021 November 2021 April 2022 May 2023 September 2023 Guatemala City Floridablanca Portmore San Miguel El Poblado (Medellín) 5th Club in Guatemala 9th Club in Colombia 2nd Club in Jamaica 3rd Club in El 10th Club in Colombia Salvador October 2023 November 2023 February 2024 A
Slide 16: Real Estate Growth (Expected Openings)
Real Estate Growth (Expected Openings) 16
Slide 17: Enhanced Membership Value
Enhanced Membership Value Continued growth of Member Wellness Offerings: Pharmacy, Optical, and Audiology. Our popular Member’s Selection Product Line- up keeps expanding! 27.0% Private Label Penetration of Total Net Merchandise Sales* *For the three month period ended 11/30/2025 17
Slide 18: Top Member's Selection Items
Top 5 Member’s Selection Items Soft and Strong Toilet Paper Cold Extracted Extra Virgin Olive Oil Shredded Mozzarella Cheese Frozen Boneless Salmon Hypoallergenic Baby Wipes Portions with Skin 18
Slide 19: Omni-Channel Platform
Omni-Channel Platform Proudly rated 4.8 stars on the UberEats App as of November 30, 2025 Onboard/Renew Membership online. Clubs Growing multi-channel personalized communication and Member interaction. Omni-channel Members* spend approximately 2x more than in-club only Members. Order online, pick up
Slide 20: Wellness Offerings
Wellness Offerings Pharmacy Optical Audiology • Pharmacy services in 22 of our clubs • Optical services in 53 of our clubs • Audiology services in 25 of our clubs • Medications for our Members at the • Four free eye exams included with • Four free evaluations with each lowest possible price membersh
Slide 21: Business Services
Business Services At our B2B (Business Service) department, our main goal is to understand the specific needs of our business Members so that we can provide comprehensive product and service solutions that drive their success in the market. We are dedicated to establishing solid, trustworthy relatio
Slide 22: Sustainability
Sustainability Our Environmental Initiatives Our Social Impacts Sustainable facilities focused on reducing and minimizing Driving principle and philosophy focusing on our employees: PriceSmart’s environmental impact: • Employee Healthcare • Solar Panels • PriceSmart Foundation and other Philanthropi
Slide 23: Sustainability
Sustainability Continued focus on Philanthropy We partner with the PriceSmart foundation to seek to support and strengthen our communities by investing in youth development, economic opportunity, and community and environmental resilience. 23
Slide 24: Workplace Rankings
Workplace Rankings We are ranked: • The Most Attractive Companies to Work For 2024: #1 -Retail in Honduras, and Top 5-Retail in Guatemala & El Salvador by Tecoloco • PriceSmart in the Top 10 Companies with the best reputation in Central America and the Dominican Republic in the 2024 Merco ranking •
Slide 25: Financials
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Slide 26: Q1 FY26 Financial Highlights
Q1 FY26 Financial Highlights 10.6% 9.5% 6.6% 15.9% Net Merchandise Net Merchandise Sales – Omni-Channel Sales Membership Income Sales Growth Constant Currency Growth* Penetration of Growth $1.35 Billion Total Net Merchandise $23.4 Million Net Merchandise Sales Sales Membership Income 9.9% $62.9 Mill
Slide 27: Strong Sales
Strong Sales Average Comparable Club Sales Growth FY22 – FY25 - 8.0% Net Merchandise Sales Comparable Club Sales Growth ($ in Millions) Changes in U.S. dollar Comparable Net Merchandise Sales CAGR 7.6% $5,151 $5,281 $4,783 15.0% 10.4% $3,945 $4,301 7.1% 7.7% 8.0% 10.0% 6.7% 5.0% FY22 FY23 FY24 FY25
Slide 28: Consistent and Reliable Membership Income
Consistent and Reliable Membership Income Membership Renewal Rate & Membership Accounts Membership Fee Income & Average Fee Membership Income CAGR 9.8% 2.01 2.04 1.89 1.76 1.81 $86 $89 89% 87% 88% 89% 89% $75 $61 $66 $39.57 $42.27 $43.18 $36.03 $36.28 FY22 FY23 FY24 FY25 Q1 FY26 TTM Renewal Rate Mem
Slide 29: Investing in Membership Experience
Investing in Membership Experience Benefits of PriceSmart membership. Our Diamond Members generally pay an annual membership fee of approximately $40 and our Platinum Members generally pay $80 per year, depending on the market in which the Member lives. Get more quality Earn up to a 2% Get delivery
Slide 30: Investing in Membership Experience
Investing in Membership Experience Platinum Members 393,917 Platinum CAGR 32% 360,605 233,148 160,913 131,316 FY22 FY23 FY24 FY25 11/30/2025 Platinum Penetration 19.3% 17.9% 12.3% 8.9% 7.4% FY22 FY23 FY24 FY25 11/30/2025 30
Slide 31: Margins and Operating Income
Margins and Operating Income Total Revenue Margin% and (1) Operating Income % and Total Revenue Total Revenue TTM 11/30/202516.1% 17.4% $5.4 TTM 11/30/2025 4.4% $5.4 16.1% FY25 17.4% $5.3 FY25 4.4% $5.3 16.4% FY24 17.2% $4.9 FY24 4.5% $4.9 16.7% FY23 17.2% $4.4 FY23 ⁽²⁾ 4.2% $4.4 FY22 16.8% $4.1 FY2
Slide 32: Earnings per diluted share
Earnings per diluted share Earnings Per Diluted Share Adjusted Earnings Per Diluted Share** CAGR 12.6%* CAGR 13.1%* $4.82 $4.57 $4.82 $4.57 $4.06 $3.38 $3.50 $3.33 $1.29 $1.29 FY22 FY23 FY24 FY25 Q1 FY26 FY22 FY23 FY24 ⁽¹⁾ FY25 ⁽¹⁾ Q1 FY26 ⁽¹⁾ (1) Adjusted earnings per diluted share for FY24, FY25 a
Slide 33: Capital Expenditures
Capital Expenditures Maintenance and Growth CapEx ($ Millions) $86.8 $82.1 $81.8 $76.0 FY25 TTM 11/30/2025 Total Growth CapEx⁽¹⁾ Total Maintenance CapEx⁽²⁾ 33 (1) Total growth expenditures for new clubs, purchases of previously leased clubs, investments to move existing clubs to better locations, su
Slide 34: Strong Financial Metrics
Strong Financial Metrics (Amount in thousands of dollars, YTD Q1 FY 2022 FY 2023 FY 2024 FY 2025 except Number of Warehouse Clubs) FY 2026 Amounts Held by Foreign Subsidiaries 203,952 139,050 121,580 222,770 215,390 Amounts Held Domestically 47,421 113,152 14,731 ⁽¹⁾ 62,521 34,167 Total Cash and Cas
Slide 35: Appendix
Appendix 35
Slide 36: GAAP to Non-GAAP Reconciliations
GAAP to Non-GAAP Reconciliations Adjusted EBITDA Three Months Ended November 30, November 30, (Amounts in thousands) 2025 2024 Net income as reported $ 40,166 $ 37,428 Adjustments: Interest expense 4,420 2,695 Provision for income taxes 15,529 13,496 Depreciation and amortization 23,977 20,862 Inter
Slide 37: GAAP to Non-GAAP Reconciliations (Continued)
GAAP to Non-GAAP Reconciliations (Continued) Adjusted Earnings Per Diluted Share Adjusted Net Income Per Diluted Share Years Ended Three Months Ended August 31, 2022 August 31, 2023 August 31, 2024 August 31, 2025 November 30, 2025 Net income attributable to PriceSmart per diluted share $ 3.38 $ 3.5
Slide 38: GAAP to Non-GAAP Reconciliations (Continued)
GAAP to Non-GAAP Reconciliations (Continued) Constant Currency Reconciliations Net Merchandise Sales and Net Merchandise Sales - Constant Currency Reconciliation (Amounts in Net Merchandise Net Merchandise Sales - Constant Impact of Foreign Currency Exchange millions) Sales Currency FY22 $ 3,945 $ 4
Slide 39: Investor Relations
Investor Relations Investor Relations Contact ir@pricesmart.com 858-404-8826 39