SOL Global Provides Interim Unaudited Financials for the Second Quarter Ended May 2023

TORONTO, July 26, 2023 – SOL Global Investments Corp. (“SOL Global” or the “Company”) (CSE: SOL) (OTCPK: SOLCF) (Frankfurt: 9SB) today reported unaudited financial results for the second quarter ended May 31, 2023. The Company is also pleased to present a general operational update regarding its assets and investments. All figures in this press release are in Canadian dollars, unless otherwise indicated.

Unaudited Six-Month Period Ended Results
• For the six-months period ended May 31, 2023, the Company recorded a net loss of ($12.2) million vs. six-months period ended May 31, 2022, net loss of ($161.1) million. This represents a favourable change of $148.9 million.
• For the three-months period ended May 31, 2023, the Company recorded a net loss of ($1.2) million vs the three-months period ended May 31, 2022, net loss of ($86.7) million. This represents a favourable change of $85.5 million.
• Total loss from investments totalled ($9.4) million for the six-month period ended May 31, 2023, compared to loss of ($177.3) million for the six-month period ended May 31, 2022. This represents a favourable change of $167.9 million between periods.
• Total income from investments totalled $2.8 million for the three-month period ended May 31, 2023, compared to a loss of ($96.2) million for the three-month period ended May 31, 2022. This represents a favourable change of $99.0 million between periods.
• The unaudited Net Asset Value (“NAV”) per share is equal to $0.89 at May 31, 2023, vs. $3.43 at May 31, 2022.
“SOL ‘s focus on operating efficiency has helped navigate this period of uncertainty.” said Paul Kania, CFO and Interim CEO. “We continue to see our portfolio companies operate well in this environment, and coupled with our cost cutting efforts, we feel SOL has built a great foundation.”