EMERGE Provides Corporate Update on truLOCAL, as the Brand Celebrates its 10th Anniversary

Continued Operational Execution and Community Impact

TORONTO, Jan. 21, 2026 /CNW/ - EMERGE Commerce Ltd. ("EMERGE" or the "Company") (TSXV: ECOM), a portfolio of premium e-commerce brands, today is pleased to provide a corporate update on truLOCAL, its premium Canadian meat and seafood subscription brand, as the business celebrates its 10th anniversary of connecting local farmers and suppliers with Canadian families online.

Operational Highlights:

truLOCAL is EMERGE's largest brand by revenue, contributing more than half of total revenue for the Company in 2025 YTD. truLOCAL continues to demonstrate excellent operating momentum and execution, including:

• Sustained Organic Growth: Two consecutive years of organic revenue growth, partially driven by the "Support Local" consumer sentiment in Canada where the brand is exclusively focused.
• Improving Profitability: truLOCAL's Adj. EBITDA⁽¹⁾ is on track to approximately double YoY in 2025. Strong performance has been driven by continued revenue growth, more efficient advertising spend, and streamlined overheads.
• Gross Margin Opportunity: truLOCAL has exhibited strong pricing power with its loyal member base, largely offsetting the increase in meat costs. Gross margin expansion is a key operational area of focus and opportunity in 2026.
• Attractive Unit Economics: Customer lifetime value ("CLTV") approaching $2,000 vs. a customer acquisition cost ("CAC") range of approximately $100–$175, depending on seasonality, among other factors.
• Growing Average Order Value ("AOV") approaching ~$240 in 2025 YTD, up from ~$228 in 2024, driven by a well-rounded assortment of SKUs and a revamped website that drives add-on / upsell products.

Acquisition Opportunities in Grocery/ Food Tech

Building around truLOCAL, the Canadian market leader in D2C meat and seafood subscription, the business is well positioned to "tuck-in" various players in the D2C food tech space, including direct competitors, adjacent "healthy/ local" food brands, and corporate gifting businesses that help the brand grow its B2B presence and client base.

We remain exclusively focused on cash flow positive acquisition targets.

A Decade of Supporting Local

Since its founding, truLOCAL has played a meaningful role in connecting health-conscious Canadians with high-quality, locally sourced meat and seafood, delivered straight to their door (with Free Shipping):

• Over 70,100 Canadian customers served
• Partnerships with over 100+ Canadian farmers and small producers
• More than 511,000 meat and seafood boxes delivered nationwide

Learn more about truLOCAL's 10-year journey and milestones here.

10th Anniversary Contest -- Win 1 Year of FREE Meat

To celebrate its 10-year milestone, truLOCAL has launched a special anniversary promotion designed at enticing new member referrals and customer acquisition. The contest gives subscribers the chance to Win 1 Year of FREE Meat (12 fully customizable "Starter Boxes" over 12 months).

Learn more about the "10-Year" Anniversary contest here.

About EMERGE

EMERGE is an e-commerce / omni-channel portfolio of premium brands. Our subscription, marketplace, and retail businesses provide our members with access to offerings across our grocery and golf verticals. truLOCAL is our flagship Canadian meat and seafood subscription service, connecting local farmers with a health-conscious audience. Our golf vertical includes our discounted tee-times/ experiences brand, UnderPar, and our discounted golf apparel and equipment brands, JustGolfStuff and Tee 2 Green.

Follow EMERGE:
LinkedIn | X | Instagram | Facebook

Neither 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.

Non-GAAP Measures

This press release makes reference to certain non-GAAP measures. These non-GAAP measures are not recognized measures under IFRS, do not have a standardized meaning prescribed by IFRS and are therefore unlikely to be comparable to similar measures presented by other companies. Rather, these measures are provided as additional information to complement those IFRS measures by providing a further understanding of results of operations from management's perspective. Accordingly, they should not be considered in isolation nor as a substitute for analysis of the financial information of the Company reported under IFRS. Gross Merchandise Sales ("GMS"), EBITDA, and Adjusted EBITDA should not be construed as alternatives to revenue or net income/loss determined in accordance with IFRS. GMS, EBITDA and Adjusted EBITDA do not have any standardized meaning under IFRS and therefore may not be comparable to similar measures presented by other issuers.

GMS as defined by management is the total dollar value of customer purchases of goods and services, excluding applicable taxes and net of discounts and refunds. Management believes GMS provides a useful measure for the dollar volume of e-commerce transactions made through our platforms and an indicator for our business performance.

Earnings before interest, taxes, depreciation and amortization ("EBITDA") and Adjusted EBITDA as defined by management means earnings before interest and financing costs, income taxes, depreciation and amortization, transaction costs, foreign exchange gains/losses, discontinued operations, unrealized gains/losses on contingent consideration and share-based compensation. Management believes that Adjusted EBITDA is a useful measure because it provides information about the operating and financial performance of EMERGE and its ability to generate ongoing operating cash flow to fund future working capital needs and fund future capital expenditures or acquisitions.

A reconciliation of the adjusted measures is included in the Company's management discussion & analysis for the three months ended September 30, 2025 in the section "Non-GAAP Financial Measures" available through SEDAR at www.sedar.com.

Notice regarding forward-looking statements

This press release may contain certain forward-looking information and statements ("forward-looking information") within the meaning of applicable Canadian securities legislation, that are not based on historical fact, including without limitation statements containing the words "believes", "anticipates", "plans", "intends", "will", "should", "expects", "continue", "estimate", "forecasts" and other similar expressions. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements. The Company undertakes no obligation to comment on analyses, expectations or statements made by third-parties in respect of the Company, its securities, or financial or operating results (as applicable). Although the Company believes that the expectations reflected in forward-looking information in this press release are reasonable, such forward-looking information has been based on expectations, factors and assumptions concerning future events which may prove to be inaccurate and are subject to numerous risks and uncertainties, certain of which are beyond the Company's control, including the risk factors discussed in the Company's MD&A, Prospectus Supplement and Annual Information Form and are available through SEDAR at www.sedar.com. The forward-looking information contained in this press release are expressly qualified by this cautionary statement and are made as of the date hereof. The Company disclaims any intention and has no obligation or responsibility, except as required by law, to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.

On Behalf of the Board
Ghassan Halazon
Director, President, and CEO
EMERGE Commerce Ltd.

SOURCE Emerge Commerce Ltd.

For further information: Dasha Enenko, EMERGE Commerce Ltd., 416-479-9590, [email protected]