THE PRAX GROUP ANNOUNCES SUCCESSFUL CLOSING OF A US$300 MILLION PRIVATE CREDIT FACILITY

London, Sept. 12, 2023 (GLOBE NEWSWIRE) — The Prax Group (“Prax”) – a British multinational, independent global energy conglomerate dealing in crude oil, petroleum products and biofuels, with a complete integration across the oil value chain, from upstream to midstream and downstream – has announced the successful closing of a new privately placed c.US$300 million (equivalent) Term Loan Facility (the “Facility”).  The Facility achieved a substantial oversubscription and was upsized from an original US$250 million, with four institutions participating in the transaction, including three new lenders.

The Private Credit team at HSBC Bank plc (“HSBC”) acted as Sole Mandated Lead Arranger of the transaction. Funds managed by institutional investors including Chimera Abu Dhabi (“Chimera”) and Orchard Global Asset Management (“Orchard Global”) acted as lenders alongside HSBC.

Ben Lahnstein, Group Chief Financial Officer, Prax, said: “The success of the transaction highlights the confidence our lending groups have in Prax and the depth of our banking and investor relationships. This latest funding has diversified our funding sources and strengthened our balance sheet.  It provides us with a solid financial platform from which to execute future M&A activities, and deliver sustainable, profitable growth.”

The new Facility will be used to refinance the maturing five-year term loan tranche from 2018, as well as for strategic acquisitions.

| ENDS |

Notes to Editors

About The Prax Group: Headquartered in the UK, the Prax Group is a British multinational, independent exploration and production, refining, storage, distribution and sales conglomerate dealing in petroleum products and bio-fuels. The Prax Group has a complete integration across the whole oil value chain, from upstream to midstream and downstream, with offices in London, Houston and Singapore. The Group strives to limit its carbon footprint and to embrace the advent of transitional fuels.

www.prax.com

Corporate Headquarters:
Prax Group
York House
45 Seymour Street
London W1H 7JT
United Kingdom
Email: [email protected]

Attachments

Prax Group
[email protected]

GlobeNewswire Distribution ID 8921162

Institutional Investor Launches 2023 Developed Europe and 2023 Emerging EMEA Research Rankings

BofA Securities and BNP Paribas Exane share first place as top research provider in the Developed Europe survey

BofA Securities, HSBC and J.P. Morgan share top spot in Emerging EMEA

LONDON, Sept. 12, 2023 (GLOBE NEWSWIRE) —  Institutional Investor Research (II Research) surveys are the leading provider of market sentiment in the financial industry. Research budgets remain flat and asset managers are using fewer analysts, but demand for bespoke opinion means that close client relationships and “trusted source” status becomes more important than ever before. With MiFID regulations potentially being rolled back across Europe and UK, the focus on the provision of quality research advisory services may result in a more competitive environment and we may see an increase in research teams across the industry.

There were no changes to the industry and country sector categories this year. The 2023 Developed Europe Research results reflects the opinions of 5,462 portfolio managers and analysts (up from 4,692 in 2022) from 1,813 institutions (up from 1,696 in 2022). The total number of votes has also increased from last year, by 11%. Over 180 firms have submitted centralised or coordinated votes, underscoring the robust nature of the results as an accurate reflection of market sentiment.

Results Highlights

Developed Europe Research

The Leaders’ Board remains intensely competitive, with seven companies competing for the honour of being rated best research house. BofA Securities and BNP Paribas Exane were ranked in first place, both with 38 published positions. J.P. Morgan once again follows in third place taking 31 positions with UBS achieving fourth place with 30 ranked teams. Barclays built on the momentum they gathered in 2022, gaining three published positions and rising to 5th overall; Morgan Stanley places sixth. The largest gain on the Leader’s Board came from Jefferies in seventh, which gained 10 positions from 2022. Citi, Bernstein and Kepler Cheuvreux take the final three places in the Developed Europe Top 10, displacing Credit Suisse that shared joint 11th place with Societe Generale.

BNP Paribas Exane once again claims first place in the analyst-ranked tables with 44 positions, followed by BofA Securities (41), J.P. Morgan (35 positions) and Barclays (31), which climbed two places.

Emerging EMEA Research

HSBC and J.P. Morgan were joined by BofA Securities as joint first place in the Emerging EMEA Leaders’ Table all with 17 published positions. Morgan Stanley took fourth place with 8 positions. Citi and UBS shared fifth.

In the commission-weighted analyst tables, the top three positions were unchanged; HSBC came first with 33 published positions, followed by J.P. Morgan with 22 positions and BofA Securities with 18. Morgan Stanley pushed up seven places to 15 to take fourth and UBS came fifth place with 13 positions to complete the leading winners. Vote participation up 14% this year with 934 voters from 286 companies.

David Enticknap, Head of II Research said “With MiFID regulations potentially being rolled back across Europe and UK, the focus on the provision of quality research advisory services may result in a more competitive environment, and we may see an increase in research teams across the industry. The Institutional Investor rankings represent the gold standard in assessment of quality in equity research, recognised globally for the integrity of the process and depth of coverage.”

The results can be found here: https://www.institutionalinvestor.com/research

For more information, or a demo on how to interrogate the data, contact Augusta McKie, Sales Director Research (EMEA), [email protected]

To share your position on your website content, advertisements, communications and marketing collateral, please contact [email protected].

Media contact

David Bowen, Director of Marketing, Institutional Investor Research [email protected]

About Institutional Investor Research

For over 50 years, Institutional Investor has been conducting independent research surveys with global investment professionals who evaluate and determine the best performing sell side service providers, asset managers and CEOs, CFOs, IROs and IR Programs across Europe, Emerging EMEA, Asia Pacific, North America and Latin America. The research data independently captures evaluations of companies, investment professionals and executives from investment managers, banks, research providers and corporate issuers, to deliver detailed peer-to-peer comparative analyses every year; the feedback helps inform strategic decision making and improve resource and process management.

Follow Institutional Investor Research here https://www.linkedin.com/showcase/11222447

GlobeNewswire Distribution ID 8920402

Institutional Investor Launches 2023 Developed Europe & Emerging EMEA Executive Team Rankings

36 companies (Core, Large Cap & Small-Mid Cap) came first in at least five voting areas in their sectors in Developed Europe and 16 companies for Emerging EMEA

LONDON, Sept. 12, 2023 (GLOBE NEWSWIRE) — Institutional Investor Research (II Research) surveys are the leading provider of independent performance validation and market sentiment across 8 global capital markets. Executive Team surveys are an independent platform for investment and sell-side professionals to evaluate credibility, communication, financial stewardship and capital allocation of corporate leadership, the quality of IR across multiple activities and the effectiveness of the Board of Directors. The results from the survey, an in-depth capability and benchmark analysis, capture the feeling and trust levels of stakeholders in their equity assets.

This year saw 2,733 CEOs, CFOs, and IROs from 1,266 nominated companies receiving votes in the survey. Combined voters saw 1,872 voters from 851 voting companies. The number of votes increased by over 20% since 2022 for the Developed Europe survey and 46% for the Emerging EMEA survey.

2023 Emerging EMEA Executive Team — Core results

281 companies and 503 individuals were nominated across 11 sectors.

Eight companies clinched a clean sweep first place in the combined rankings in five voting areas for Best CEO, Best CFO, Best Investor Relations Professional, Best IR Company, Best Analyst/Investor Event, Best ESG Metrics, and Best Company Board in their respective sectors:

Al Rajhi Bank (Saudi Arabia, Financials), Coca-Cola Icecek (Turkey, Consumer), Haci Omer Sabanci Holding (Turkey, Industrials), Hellenic Telecommunications Organization (Greece, Technology, Media & Telecommunications), Lamda Development (Greece, Construction & Real Estate), MLP Saglik Hizmetleri (Turkey, Health Care & Pharmaceuticals), Mytilineos Holdings (Greece, Metals & Mining) and Petkim Petrokimya Holding (Turkey, Chemicals).

2023 Emerging EMEA Executive Team — Large Cap results

95 companies and 197 individuals were nominated across 11 sectors.

Six companies clinched a clean sweep first place in the combined rankings five of the seven aforementioned voting areas:

Al Rajhi Bank (Saudi Arabia, Financials), Emaar Properties (United Arab Emirates, Construction & Real Estate), Hellenic Telecommunications Organization (Greece, Technology, Media & Telecommunications), Koc Holding (Turkey, Industrials), Opap (Greece, Consumer) and Turk Hava Yollari (Turkey, Transportation).

2023 Emerging EMEA Executive Team — Small & Midcap results

186 companies and 306 individuals were nominated across 11 sectors.

Ten companies obtained a clean sweep first place in the combined rankings in five of the seven aforementioned voting areas:

Aegean Airlines (Greece, Transportation), Coca-Cola Icecek (Turkey, Consumer), Haci Omer Sabanci Holding (Turkey, Industrials), Lamda Development (Greece, Construction & Real Estate), MLP Saglik Hizmetleri (Turkey, Health Care & Pharmaceuticals), Motor Oil (Hellas) Corinth Refineries (Greece, Oil & Gas), Mytilineos Holdings (Greece, Metals & Mining), Petkim Petrokimya Holding (Turkey, Chemicals), Piraeus Financial Holdings (Greece, Financials) and Turk Telekomunikasyon (Turkey, Technology Media & Telecommunications).

Amani Korayeim, Director for Europe and Emerging EMEA, says “The Institutional Investor rankings are recognised as an industry benchmark by its stakeholders and determine compensation packages and KPIs for IR teams that are empowered and valued by their leadership teams. Investor Relations is critical in shareholder value creation. In fact, good IR, often recognised through the Institutional Investor’s rankings, can deliver a competitive advantage, and help companies trade at a premium. Conversely, poor IR can lead to the company being traded at a discount, create greater volatility and higher cost of capital. The highest ranked companies in our surveys tend to measure and monitor the effectiveness of their IR activities very closely. These are the teams that take a strategic and deliberate approach to their market engagement, use underlying research data and perception intelligence to continually optimise their IR interaction to close the gap between their competition and lock in prospect targets through a more personalised and targeted outreach. Congratulations to all the top ranked companies this year, we are particularly excited about the new names and regions that are represented in what the market defines as Best in Class IR.”

For the full list of published winners, please visit www.institutionalinvestor.com/research.

Awards & Licences

Institutional Investor owns the copyright to all survey and awards logos. To acquire access to the Institutional Investor award or survey logo for use in client pitch books, annual reports, websites, email signatures, local advertising, social media etc., please contact [email protected]

Ranking Analysis & Perception Intelligence

To request further information on how you can access the underlying survey research to identify strength and opportunities in IR through a multi-dimensional comparative peer analysis, please contact [email protected]

Media contact

David Bowen, Director of Marketing, Institutional Investor Research [email protected]

About Institutional Investor Research

For over 50 years, Institutional Investor has been conducting independent research surveys with global investment professionals who evaluate and determine the best performing sell side service providers, asset managers and CEOs, CFOs, IROs and IR Programs across Europe, Emerging EMEA, Asia Pacific, North America and Latin America. The research data independently captures evaluations of companies, investment professionals and executives from investment managers, banks, research providers and corporate issuers, to deliver detailed peer-to-peer comparative analyses every year; the feedback helps inform strategic decision making and improve resource and process management.

Follow Institutional Investor Research here https://www.linkedin.com/showcase/11222447

GlobeNewswire Distribution ID 8920411

Duck Creek Technologies Announces New Chief Financial Officer

Company appoints Teresa M. Kim, experienced technology finance executive, to oversee finance and accounting functions

Duck Creek Technologies Announces New Chief Financial Officer

Teresa Kim, Duck Creek Technologies CFO

BOSTON, Sept. 11, 2023 (GLOBE NEWSWIRE) — Duck Creek Technologies, the intelligent solutions provider defining the future of property and casualty (P&C) and general insurance, announces the appointment of Teresa M. Kim as chief financial officer (CFO). Kim is an accomplished senior finance leader with a strong background and history in cloud computing, technology platforms, and “Big Four” public accounting. She joins Duck Creek following a 20-year tenure with Akamai Technologies (Akamai), a worldwide content delivery network and cloud service company, where she most recently served as vice president (VP) of finance in their cloud technology group overseeing $2 billion-plus in revenues while helping the business to build a scaling world-class platform. While at Akamai, she also was VP of finance in their media and carrier division helping to lead strategic media customer contract negotiations. Previously, she held a role as assistant controller overseeing global accounting and operations leading a large team of 120 professionals and building out finance centers of excellence in India and Poland.

Prior to Akamai, Kim served as a senior auditor with Ernst &Young (EY), supporting clients in EY’s technology, communications, and entertainment sector. She began her career in financial consulting roles with KPMG and Economic Analysis Corporation before moving into public accounting.

“Teresa is a dynamic and thoughtful leader with strong financial acumen, client focus, and experience across cloud and platform technology operations. As Duck Creek continues to focus on international growth and SaaS maturity, she will be a tremendous asset in helping to direct our own strategic transformation and optimize our financial operations,” said Mike Jackowski, CEO of Duck Creek. “This is an exciting time for all of us at Duck Creek and I am confident her talent will help us to continue creating value for our customers, partners, and stakeholders.”

Kim adds, “I’m excited to join Duck Creek as it strengthens its leadership position in the global insurance industry. I’m honored to have the opportunity to work closely with Mike and the entire Duck Creek team during a period of accelerated growth.”

Kim earned her Bachelor of Arts degree with a focus in economics and minor in Asian American studies from UCLA. She earned her MBA and a master’s degree in accounting from Northeastern University. Kim is based in the greater Boston area.

About Duck Creek Technologies

Duck Creek Technologies is the intelligent solutions provider defining the future of the property and casualty (P&C) and general insurance industry. We are the platform upon which modern insurance systems are built, enabling the industry to capitalize on the power of the cloud to run agile, intelligent, and evergreen operations. Authenticity, purpose, and transparency are core to Duck Creek, and we believe insurance should be there for individuals and businesses when, where, and how they need it most. Our market-leading solutions are available on a standalone basis or as a full suite, and all are available via Duck Creek OnDemand. Visit www.duckcreek.com to learn more. Follow Duck Creek on our social channels for the latest information – LinkedIn and Twitter.

Contact

Drake Manning
Duck Creek Technologies
[email protected]

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/4a0ac0b9-1a79-4e33-a4bb-d27139e4383d

GlobeNewswire Distribution ID 8919541

30 things you did not know about Dominica

Roseau, Sept. 08, 2023 (GLOBE NEWSWIRE) — The Commonwealth of Dominica is a small island located in the Caribbean between Martinique and Guadeloupe. Tourists marvel at the crystal blue ocean views and tropical humid climate, there is an abundance of discovery on the Nature Isle of the Caribbean.

Explore 30 interesting facts about the magical island of Dominica!

Cultural history 

1. Dominica was named by Christopher Columbus 

Prior to Christopher Columbus’ arrival on the island, the Caribbean settlers named it Watikbuli, meaning ‘Tall is her Body’. In 1493, Christopher arrived on the island and named it Domingo, which means Sunday, the day which he discovered the island.

2. Dominica has an interesting motto 

The motto is French, ‘Après le Bon Dieu, c’est la Terre’, translated to English as ‘After God, the Earth’, Dominica eloquently displays its natural beauty.

3. Dominica is a republic in the Commonwealth 

The Nature Isle gained its independence on 3 November 1978 and celebrates this day annually with vibrant national festivities. These include cultural markets, music festivals, and beauty pageants.

4. The National Anthem is titled ‘Isle of Beauty, Isle of Splendour’ 

Dominica’s national anthem was written by Wilfred Oscar Morgan, with the music composed by Lemuel McPherson Christian OBE, after receiving statehood in 1967.

5. Government system 

As a parliamentary democratic republic nation, The Executive branch of government has a President and Prime Minister, whereby nominees are elected in consultation with the opposition leader. The two-party system, with the ruling Dominica Labour Party and the opposition party, the United Worker’s Party.

All Dominican adult citizens may cast their ballots every five years during the government elections.

6. Dominica’s President, His Excellency, the Honourable Charles Savarin 

Elected as Dominica’s eighth president in October 2013, Honourable Charles Savarin is a member of the Dominica Labour Party. He received his nomination from Prime Minister, Honourable Roosevelt Skerrit, who has been the head of government since August 2004. Previously, His Excellency, Honourable Savarin was a teacher, trade unionist, parliamentarian, diplomat, and government minister.

7. English Common Law system 

Dominica’s constitution includes the right to life, personal liberty, and freedom of expression, which follows one-third of the world’s English Common Law. The hierarchy of Dominica’s court starts from the Magistrate Court, High Court, Court of Appeal, and lastly The Court of Appeal the Privy Council.

8. Dominica’s small population of 72,412 

The population of Dominica is currently sitting at 72,414, making it the 11th least-populated nation in the world.

9. The Dominican flag is one of only two national flags with the colour purple 

Out of all the nations in the world, Dominica’s national flag is one of only two national flags to incorporate the colour purple. The other is the Nicaraguan national flag. The Dominican national flag features a Sisserou Parrot that has purple feathers on the underside and the crown.

Geographical landscape 

10. The island is also known as the Nature Isle of the Caribbean 

Dominica’s spectacular natural beauty is oftentimes affectionately known as “The Nature Isle of the Caribbean.” The vast amount of the island is covered in lush forests. Year-round visitors can experience wondrous waterfalls and mud ponds. Indigenous rainforest animals and insects such as parrots, iguanas and rare butterflies make up some of the phenomenal fauna.

11. The national flowers for Dominica 

The Sabinea carinalis, warmly known as the ‘Bwa Kwaib’ or the Carib Wood. Is the indigenous wild xerophytic plant. In bloom, it exhibits bright scarlet flowers from its branches. It is said to represent the longevity of the Dominican youth.

12. The National Bird of Dominica is the Sisserou Parrot 

The national bird of Dominica the Sisserou (Amazona Imperialis), “The Pride of Dominica” is found on the country’s emblems such as the Coat of Arms, the National Flag, the Public Seal, The Mace of the House of Assembly and Dominica’s Honours for Meritorious Service. The imperial parrot is endemic to Dominica’s dense mountainous rainforests. This shy and yet attractive indigenous bird has resided on the island for numerous thousands of years and can live over 70 years of age. The bird is an endangered species and is under preservation.

13. Dominica is the only country in the world where sperm whales reside year-round!  

Sperm whales have called Dominica’s waters their home, and it is extremely likely to spot them swimming in pods, as whales and dolphins live close to shore throughout the year.

14. The Island is home to the Giant Ditch Frog known as the “mountain chicken” 

Dominicans refer to the frog as the “mountain chicken” due to its legs imitating drumsticks. The frog used to be a delicacy as a national dish and is now under conservation to preserve the species.

15. Home to the Caribbean’s first long-distance hiking trail 

The Waitukubuli National Trail (WNT) is the first long-distance hiking trail in the Caribbean. It is estimated to be 183 km long and is split into 14 sections. The trail was built between 2007 and 2012, the route crosses through Dominica and traverses some of the country’s most spectacular terrain. It will take a minimum of two weeks to complete the hiking trail.

16. Dominica is home to a UNESCO World Heritage Site 

The Morne Trois Pitons National Park is the exclusive Heritage Site in Dominica and was designated a UNESCO World Heritage Site in 1997. This national park is situated in the southern half of the island and contains many of Dominica’s most spectacular attractions including the Titou Gorge, Boeri, Freshwater Lakes, the Boiling Lake, and the Middleham Falls. The Morne Trois Pitons National Park covers roughly 9 per cent of Dominica’s land area.

17. Dominica has practised herbal medicine for centuries 

The original inhabitants of the island, the Caribs, and later Africans, brought with them thorough knowledge of plants and herbs. This knowledge has been passed down through generations and many herbs like Moringa, Basil and Dandelion are still used today for medicinal purposes, usually referred to as “bush medicine.”

Economic features of Dominica 

18. Dominica’s main industries 

The country’s main industries are agriculture, tourism and manufacturing. Over 20 per cent of the island’s land is arable and under cultivation, with bananas traditionally serving as Dominica’s largest export. Although Dominica has recently increased the production of other fruits, as well as vegetables and coffee beans.

Dominica’s tourism sector continues to steadily grow, with the alluring nature attracting an estimated 200,000 holidaymakers annually. The island’s manufacturing industry primarily depends on raw materials from the agricultural sector, where in-demand exports include coconut soap, ceramics and shoes.

19. Dominica’s official currency is the East Caribbean Dollar (XCD) 

Dominica introduced the Eastern Caribbean Dollar (ECD) currency in 1965, which is used in another seven countries in the Organisation of Eastern Caribbean States (OECS).

Foreign currencies including the euro and dollar are also accepted as tender. It is also pegged to the US dollar at a rate of US$1 to ECD (East Caribbean Dollar) $2.70. As Dominica is a member of the Commonwealth, all banknotes and coins feature an image of King Charles III.

20. The Gross Domestic Product (GDP) Dominica  

The World Bank recorded the island’s GDP had an outstanding US$612,048,148 in financial year 2022.

21. Investors can acquire Citizenship of Dominica by Investment 

Investors in Dominica tend to seek citizenship through investment opportunities around the country. When visitors officially become Dominican citizens, they can develop businesses, work, relocate and extend their citizenship to their family members.

Dominica’s CBI Programme received first in the Citizenship by Investment (CBI) initiative for six consecutive years by the CBI Index.

22. English is Dominica’s official language 

English is universally spoken in Dominica and UK English spelling is used. Dominican Creole (an Antillean Creole derived from French), and French Patois are spoken amongst the locals. This is because of the long history of French migration to the island as well as Dominica’s location between two French-speaking countries; Martinique and Guadeloupe.

23. Christian religious practices 

Christianity is the most common religion in Dominica, practised by over 90 per cent of the population. However, religious freedom is enshrined in the Constitution of Dominica so inhabitants can follow alternative faiths if they so choose, such as Rastafarianism.

24. Cricket is the most popular sport in Dominica 

Many Dominican cricketers play for the West Indies cricket team internationally. Shane Shillingford and Adam Sanford are two of the most notable cricketers from Dominica.

25. The capital city of Dominica is Roseau 

The largest city in Dominica it is located on the Southwest coast of the country and is surrounded by the Caribbean Sea, the Morne Bruce Hill and the Roseau River. Filled with lively markets, 18th-century French architecture and famous landmarks like the Roseau Cathedral and the Morne Bruce Cross.

26. The Main Airport is Douglas-Charles Airport 

Formerly known as Melville Hall Airport, Douglas–Charles Airport is Dominica’s largest of the country’s two airports. Douglas–Charles Airport operates both passenger and cargo planes to other destinations in the Eastern Caribbean region.

27. Dominica is on a quest to be the world’s first climate-resilient nation 

The Government of Dominica has called on investors around the world to assist in the development of sustainable and robust industries and infrastructure. This is an exclusive opportunity to implement the latest technologies and developmental approaches. Dominica aims to be at the forefront of tackling climate change challenges.

28. Unique rivers for each day of the year

Apart from breathtaking beaches and volcanoes, Dominica has over 365 rivers! While some are cool and clear, others are cloudy and fast. All the rivers are surrounded by exotic plants and flowers. The Indian River is the widest on the island, and many visitors choose this river to explore the rivers for the first time.

29. There are nine active volcanoes in Dominica  

Dominica has the highest concentration of volcanoes in the world, with approximately nine active volcanoes. Eruptions are very rare, and the last volcanic eruption was in 1997 and the one before that was in 1880.

The highest mountain and volcano are Morne Diablotins, and it is a magical sight. Adventurists can take a six-hour hike to reach the top where neighbouring islands, Martinique and Guadeloupe can be seen from the top.

30. Many of Dominica’s beaches are covered in black sand 

The volcanoes in Dominica influence the colour of beautiful black-sand beaches. Some of the most famous black sand beaches in Dominica include the Number One Beach, Mero Beach, and Rosalie Bay Beach.

Secretary of Dominica Citizenship by Investment Programme
Commonwealth of Dominica
001 (767) 266 3919
[email protected]

GlobeNewswire Distribution ID 8919129

eXp Realty Supercharges Agent Earning Potential

Introducing the “Accelerate” agent incentive program, breaking down growth barriers through accelerated revenue share opportunities

eXp Realty Supercharges Agent Earning Potential

Introducing the “Accelerate” agent incentive program, breaking down growth barriers through accelerated revenue share opportunities

BELLINGHAM, Wash., Sept. 07, 2023 (GLOBE NEWSWIRE) —  eXp Realty®, “the most agent-centric real estate brokerage on the planet™” and the core subsidiary of eXp World Holdings, Inc. (Nasdaq: EXPI), today announced the launch of Accelerate – an incentive program focused solely on helping eXp agents build for their future by maximizing their revenue share earning potential during their first year with the company.

“In the lifespan of an agent, a critical component of long-term success is the ability to build for their retirement, so we launched Accelerate to help catalyze their potential earnings and create momentum in the first year and build for their future,” said Glenn Sanford, Founder and CEO of eXp Realty. “We continue to be relentlessly focused on delivering a model that puts agents first. I couldn’t be more proud of what we have created, especially for those looking to build long-term wealth, with our revenue share and equity programs for agents, as well as a favorable cap and split model.”

Accelerate, which is available in all 24 countries where eXp Realty operates, applies to agents who joined on or after March 1, 2023. The program automatically opens revenue share tiers 2 and 3 for 12 months beginning Sept. 7, 2023, creating the opportunity to have 10 front line qualifying agents (FLQA) immediately. This can open up the eXponential components of eXp’s revenue share program in that first year. After the 12-month period, standard revenue share criteria will apply.

“Accelerate was designed to reduce barriers and incentivize agents to grow their organizations,” said Michael Valdes, Chief Growth Officer, eXp Realty. “It enables them to focus on selling and growing their businesses while earning the maximum potential revenue share for tiers two and three for the first year. Our aligned compensation model, where agents are rewarded for both production and contributions to eXp’s growth, brings more value than ever before.”

This launch comes on the heels of the company’s June announcement that, for the first time, was refining revenue share criteria for its agents, reducing the current FLQA tier 7 threshold from 40 to 30 FLQA. As part of its efforts to continually enhance its model, the company also launched Boost, a program designed to financially incentivize qualifying independent teams and brokerages to join eXp Realty.

Revenue share is just one part of eXp Realty’s aligned compensation model, which also includes competitive commissions and stock equity programs designed to enable its agents to build for their future.

About eXp World Holdings, Inc.

eXp World Holdings, Inc. (Nasdaq: EXPI) is the holding company for eXp Realty®, Virbela and SUCCESS® Enterprises.

eXp Realty is the largest independent real estate company in the world with more than 88,000 agents in the United States, Canada, the United Kingdom, Australia, South Africa, India, Mexico, Portugal, France, Puerto Rico, Brazil, Italy, Hong Kong, Colombia, Spain, Israel, Panama, Germany, Dominican Republic, Greece, New Zealand, Chile, Poland and Dubai and continues to scale internationally. As a publicly traded company, eXp World Holdings provides real estate professionals the unique opportunity to earn equity awards for production goals and contributions to overall company growth. eXp World Holdings and its businesses offer a full suite of brokerage and real estate tech solutions, including its innovative residential and commercial brokerage model, professional services, collaborative tools and personal development. The cloud-based brokerage is powered by Virbela, an immersive 3D platform that is deeply social and collaborative, enabling agents to be more connected and productive. SUCCESS® Enterprises, anchored by SUCCESS® magazine and its related media properties, was established in 1897 and is a leading personal and professional development brand and publication.

For more information, visit https://expworldholdings.com

Safe Harbor Statement

The statements contained herein may include statements of future expectations and other forward-looking statements that are based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Such forward-looking statements speak only as of the date hereof, and the company undertakes no obligation to revise or update them. Such statements are not guarantees of future performance. Important factors that may cause actual results to differ materially and adversely from those expressed in forward-looking statements include changes in business or other market conditions; the difficulty of keeping expense growth at modest levels while increasing revenues; and other risks detailed from time to time in the company’s Securities and Exchange Commission filings, including but not limited to the most recently filed Quarterly Report on Form 10-Q and Annual Report on Form 10-K.

Media Relations Contact:

eXp World Holdings, Inc.

mediarelations@expworldholdings.com

Investor Relations Contact:

Denise Garcia

[email protected]

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/04ad7948-9819-48ea-92e3-6e0804785bab

GlobeNewswire Distribution ID 8918619