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**BANXA HOLDINGS INC. ANNOUNCES POSITIVE ADJUSTED EBITDA OPERATIONS AND FY24 FINANCIAL GUIDANCE**

**Toronto and Melbourne, Australia, March 6, 2024 /CNW/** – Banxa Holdings Inc. (TSXV: BNXA) (OTCQX: BNXAF) (FSE: AC00) (“Banxa” or the “Company”) is pleased to announce it has achieved positive adjusted EBITDA operations in the month of January 2024.

Banxa Holdings Inc. (www.banxa.com) (CNW Group/Banxa Holding Inc)

**Fiscal Year 2024 Financial Guidance**

(All comparisons are relative to the twelve month period ended June 30th, 2023 unless otherwise stated)

Banxa expects to achieve the following financial results for the full fiscal year 2024:

Gross Profit in the range of AUD$26.5 million to AUD$27.5 million (USD17.2 million to USD$17.9 million). At the mid-point, this represents an increase of 31%

Adjusted EBITDA in the range of (AUD$0.8 million) to AUD$0.2 million ((USD$0.5 million) to USD$0.1 million). At the mid-point, this represents an increase of 96%

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Holger Arians, Chairman and CEO, said: “This is a significant milestone for the business that the team has pursued relentlessly over the past several months. It is yet another demonstration of the team’s ability to execute. Banxa has entered a new chapter in its journey in a better position than ever before. We are focused on scaling efficiently while building for the embedded crypto future. With the crypto market tailwinds accelerating, and our volumes along with it, I am excited about the bright future that lies ahead. Moving forward, we are committed to generating positive adjusted EBITDA in all market conditions.”

Zafer Qureshi, Executive Director and Head, Corporate Affairs, said: “I am very proud of the Banxa team for achieving this pivotal milestone. The team’s efforts have materially de-risked the business and set it on a sustainable positive trajectory. As the only leading publicly listed infrastructure provider for enabling embedded crypto and a deeply discounted valuation, I am confident it is only a matter of time the share price will reflect the strong underlying business.”

**Expanding on Adjusted EBITDA Definition**

Adjusted EBITDA is a non-IFRS financial measure that we calculate as net profit before tax excluding depreciation and amortization expense, share based compensation expense, unrealized loss on inventory, finance expense, realized/unrealized gain on fair value of deposits & derivative liability, (gain)/loss on fair value of derivative, unrealized exchange (gain)/loss, (gain)/loss on sale of capital asset and listing expenses. Adjusted EBITDA is used by management to understand and evaluate the performance and trends of the Company’s operations.

**About Banxa Holdings Inc.**

Banxa is the leading infrastructure provider for enabling embedded crypto – empowering businesses to embed crypto seamlessly into their existing platforms and unlocking new opportunities in the rapidly evolving crypto economy. Through an extensive and growing network of global and local payment solutions and regulatory licenses, Banxa helps businesses provide seamless integration of crypto and fiat for global audiences with lower fees and higher conversion rates. Headquartered in the USA, Europe, and Asia-Pacific, the Banxa team is building for a world where global commerce is run on digital assets. For further information visit www.banxa.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

**On Behalf Of The Board Of Directors Per: “Zafer Qureshi”**

Zafer Qureshi = Executive Director and Head, Corporate Affairs, +1-888-332-2692

**Utilizing Forward-Looking Information and AI legalese decoder**

This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements, such as those regarding the Company’s future performance and expectations, can be complex and confusing. AI legalese decoder can help in dissecting these forward-looking statements, providing users with a clearer understanding of the projected outcomes and potential risks involved.

Overall, Banxa Holdings Inc.’s achievement of positive adjusted EBITDA operations and its fiscal year 2024 financial guidance demonstrate a significant step forward for the Company in the realm of embedded crypto infrastructure. With the assistance of tools like AI legalese decoder, investors and stakeholders can navigate through the intricate financial landscape and make informed decisions based on a comprehensive understanding of the Company’s operations and projections.

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