PriceSmart appoints Beatriz Infante to its Board of Directors

– USA, CA – PriceSmart, Inc. (NASDAQ: PSMT) today announced the election of a new board member, Beatriz Infante, to the Company’s Board of Directors at the Company’s 2018 annual meeting of stockholders held on January 24 in San Diego.

Beatriz Infante is Chief Executive Officer of BusinessExcelleration LLC, a business consultancy specializing in corporate transformation and renewal, and an advisor and investor in a number of early stage technology companies. She is currently a member of the board of directors of Liquidity Services Inc., an online marketplace for retail and capital assets, and a director of Ribbon Communications, a market leader in cloud communications.  In addition, she serves on the Advisory Committee to the Princeton University School of Engineering and Applied Science.  Ms. Infante holds a bachelor of science and engineering degree in electrical engineering and computer science from Princeton Universityand holds a master of science degree in engineering science from California Institute of Technology.

At yesterday’s annual meeting of stockholders, 11 nominees were elected to the PriceSmart board.  Each director elected will continue to hold office until the next annual meeting of stockholders of PriceSmart, or until the director resigns or a successor is elected or appointed. The following directors were elected yesterday: Sherry S. Bahrambeygui, Gonzalo Barrutieta, Gordon Hanson, Beatriz Infante, Leon Janks, Jose Luis Laparte, Mitchell Lynn, Gary Malino, Pierre Mignault, Robert Price and Edgar Zurcher.

Stockholders also approved, on an advisory basis, the compensation of the Company’s executive officers for fiscal year 2017 and ratified the selection of Ernst & Young LLP as the Company’s independent registered public accounting firm for the fiscal year ending August 31, 2018.  Stockholders also approved, on an advisory basis, holding an advisory vote on executive compensation every year. A final report on voting results will be filed with U.S. Securities and Exchange Commission within four business days following the date of the annual meeting of stockholders.

About PriceSmart

PriceSmart, headquartered in San Diego, owns and operates U.S.-style membership shopping warehouse clubs in Latin America and the Caribbean, selling high quality merchandise at low prices to PriceSmart members. PriceSmart now operates 40 warehouse clubs in 12 countries and one U.S. territory (seven each in Colombia and Costa Rica; five in Panama; four in Trinidad; three each in Guatemala, the Dominican Republic and Honduras; two each in El Salvador and Nicaragua; and one each in Aruba, Barbados, Jamaica and the United States Virgin Islands).

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