RUM Reports Annual Financial Results with Increased Net Comprehensive Income for the Year Ended December 31, 2023 - Seite 3

About Rocky Mountain

Rocky Mountain is a public company whose shares are traded on the TSX Venture Exchange (TSX-V:RUM). Rocky Mountain is the parent to a wholly owned subsidiary, Andersons Liquor Inc. headquartered in Edmonton, Alberta, which owns and operates 24 private liquor stores in that province.

Notes:

(1) Prior year sales restated to reflect bottle deposit collections. Previously, bottle deposit collection revenue was netted against bottle deposit payments and reported under cost of sales.

• For the 3 months ended, refer to the "CONDENSED QUARTERLY INFORMATION' heading in the December 31, 2023 Management Discussion and Analysis ("MD&A") for a reconciliation of previously reported sales to restated sales.
• For the 12 months ended, see Note 19 in the Company's audited consolidated financial statement for a reconciliation of previously reported sales to restated sales.

(2) Calculation of Gross Margin and EBITDAR are described under the heading "Non-IFRS Measures" below. Prior year EBITDAR is restated. See the December 31, 2023 MD&A under "Non-IFRS Measures for a reconciliation of previously reported EBITDAR to restated EBITDAR.

(3) Net comprehensive income for the 3 months ended December 31, 2022, is restated due to amounts previously reported not representing the correct amount. Refer to the "CONDENSED QUARTERLY INFORMATION' heading in the December 31, 2023 MD&A for a reconciliation of quarterly net comprehensive income reported in the 2022 MD&A to net comprehensive income reported in each quarter's interim financial statements.

Non-IFRS Measures

EBITDAR is not a measure recognized by, and does not have a standardized meaning prescribed by IFRS Accounting Standards. Investors are cautioned that these measures should not replace net comprehensive income or loss (as determined in accordance with IFRS Accounting Standards) as an indicator of the Company's performance, of its cash flows from operating, investing and financing activities or as a measure of its liquidity and cash flows.

Furthermore, the Company's method of calculating these measures may differ from the methods used by other issuers. Therefore, the Company's calculation of these measures may not be comparable to similar measures presented by other issuers. The Company has these measures in place as they provide information to investors, analysts, and others to aid in understanding and evaluating the Company's operating results in a similar manner to its management team.