Webuy Global reports record sales and 253% increase in gross profit for the first half of 2024 Page 1

Singapore, September 17, 2024 (GLOBE NEWSWIRE) — Webuy Global Ltd (Nasdaq: WBUY) (“Webuy” or the “Company”), a Southeast Asian e-commerce retailer, today provided a business update and announced its preliminary financial results for the six months ended June 30, 2024.

Vincent Xue Bin, Chief Executive Officer and Co-Founder of Webuy, stated: “I am pleased to report that we achieved record revenue in the first half of 2024. This performance reflects the continued rollout of our social e-commerce platform in Southeast Asia. Revenue growth was driven by an increase in food sales and the success of our travel packages. Due to the high margins in our travel services, I am also pleased to announce a 253% increase in gross profit. It is important to note that these results were achieved in the first half of the year, which has historically been a slower season for us. We expect an even stronger performance in the second half, as demonstrated by our success at NATAS Fair 2024 last August, where we generated US$2.9 million in revenue in just three days.”