RELIANCE

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Reliance Global Appoints Grant Barra Senior Vice President of Operations

Grant Barra to oversee expansion of the Agency Partner Network and introduction of new InsurTech to accelerate growth

LAKEWOOD, NJApril 28, 2022 (GLOBE NEWSWIRE) — via NewMediaWire — Reliance Global Group, Inc. (Nasdaq: RELI; RELIW) (“Reliance”, “we” or the “Company”), which combines artificial intelligence (AI) and cloud-based technologies with the personalized experience of a traditional insurance agency, today announced it has appointed Grant Barra as Senior Vice President of Operations following the recently announced acquisition of Barra & Associates. In addition to overseeing the Barra & Associates subsidiary, Mr. Barra will be responsible for overseeing expansion of the agency partner network and introduction of new InsurTech to accelerate growth.

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Reliance Global Announces Acquisition of Barra & Associates, a Recognized Provider of Property and Casualty, Life and Health Insurance

Barra operates a growing network with over 60 agents and agency partners

Acquisition expected to be highly synergistic and accretive

LAKEWOOD, NJApril 27, 2022 (GLOBE NEWSWIRE) — via NewMediaWire — Reliance Global Group, Inc. (Nasdaq: RELI; RELIW) (“Reliance”, “we” or the “Company”), which combines artificial intelligence (AI) and cloud-based technologies with the personalized experience of a traditional insurance agency, today announced it has acquired Barra & Associates, a recognized provider of both personal and commercial insurance products, including property and casualty insurance, life insurance, health insurance and other insurance products.  The Company acquired Barra & Associates for approximately, $7.5 million, comprised of cash and debt. Following the transaction, Grant Barra, founder and CEO of Barra & Associates, will continue to oversee the Barra & Associates subsidiary, as well as other senior responsibilities within the Company.

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Reliance Global Group Completes Acquisition of Medigap Health Insurance Company

Acquisition grows the Company’s footprint across 47 states and expands offering within the Medicare supplement insurance market

LAKEWOOD, N.J.Jan. 11, 2022 (GLOBE NEWSWIRE) — via NewMediaWire — Reliance Global Group, Inc. (Nasdaq: RELI; RELIW), which combines AI and cloud-based technologies with the personalized experience of a traditional insurance agency, today announced that it has completed the previously announced acquisition of Medigap Health Insurance Company (“Medigap”) in an asset purchase transaction.

Medigap is an insurance brokerage company headquartered in Florida, specializing in Medicare supplement insurance.  Medigap generated revenue of approximately $7 million1 for the trailing twelve months ended September 30, 2021.

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Reliance Global Group Announces Pricing of $20.0 Million Private Placement with Institutional Investors

LAKEWOOD, NJDec. 23, 2021 (GLOBE NEWSWIRE) — via NewMediaWire — Reliance Global Group, Inc. (Nasdaq: RELI; RELIW), which combines AI and cloud-based technologies with the personalized experience of a traditional insurance agency, today announced a private placement of preferred stock, common stock and warrants for gross proceeds of $20.0 million before deducting the placement agent’s fees and other estimated offering expenses.  The offering is expected to close on or around December 27, 2021.

Under the terms of the securities purchase agreement, the Company sold 9,076 shares of the Company’s newly designated Series B Convertible Preferred Stock, 2,670,892 shares of common stock and warrants to purchase up to 9,779,952 shares of common stock. The Series B Convertible Preferred Stock is convertible immediately into 2,219,084 shares of common stock at a conversion price of $4.09 per share, subject to customary adjustment. The Series B Convertible Preferred Stock receives dividends if and when dividends are paid on the common stock, and is, generally, non-voting. The warrants will be exercisable immediately upon the date of issuance and have an exercise price of $4.09 per share. The warrants will expire five years from the date of issuance. The purchase price for one share of common stock and two corresponding warrants was $4.09.  The purchase price for one share of Series B Preferred Stock (convertible into approximately 244.5 shares of common stock), and approximately 489 corresponding warrants, was $1,000 (equal to $4.09 per share of common stock into which it is convertible, and corresponding two warrants).

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Reliance Global Group Announces Definitive Agreement to Acquire Medigap Health Insurance Company

Acquisition Would Expand the Company’s Presence into the Medicare Supplement Insurance Market

LAKEWOOD, N.J.Dec. 22, 2021 (GLOBE NEWSWIRE) — via NewMediaWire – Reliance Global Group, Inc. (Nasdaq: RELI; RELIW), which combines AI and cloud-based technologies with the personalized experience of a traditional insurance agency, today announced that it has entered into a definitive agreement to acquire Medigap Health Insurance Company (“Medigap”) in an asset purchase transaction. The acquisition is expected to close during the first quarter of 2022, and is subject to customary closing conditions.

Medigap is an insurance brokerage company headquartered in Florida, specializing in Medicare supplement insurance. Medigap generated revenue of approximately $7 million1 for the trailing twelve months ended September 30, 2021.

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Reliance Global Group Launches 5MinuteInsure.com in 8 Additional States

5MinuteInsure.com now available in 20 states across the U.S. with a combined population of more than 100 million

LAKEWOOD, N.J.Dec. 07, 2021 (GLOBE NEWSWIRE) — via NewMediaWire — Reliance Global Group, Inc. (Nasdaq: RELI; RELIW), which combines AI and cloud-based technologies with the personalized experience of a traditional insurance agency, today announced that it has launched 5MinuteInsure.com in IllinoisConnecticutNebraskaNew MexicoNevadaSouth DakotaVermont and Wisconsin.

Ezra Beyman, CEO of Reliance Global Group, commented, “We have added another 8 states to the 5MinuteInsure.com platform, and are now commercially available a total of 20-states across the U.S., with a combined population of over 100 million people. We are extremely pleased with the pace of the nationwide rollout of 5MinuteInsure.com and I’d like to personally thank our team and advisors, who have helped us achieve these major milestones.  In the meantime, we continue to execute on our agency business model, including organic growth of our portfolio companies.  We are also in advanced discussions with potentially significant acquisitions, building on our strong track record, which we believe could further expand our product offering and geographic reach.”

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Reliance Global Group Launches 5MinuteInsure.com in Missouri, Alabama, Iowa and West Virginia

Platform Now Live in 12 States Representing a Combined Population of More Than 82 Million People

LAKEWOOD, N.J.Nov. 29, 2021 (GLOBE NEWSWIRE) — via NewMediaWire – Reliance Global Group, Inc. (Nasdaq: RELI; RELIW), which combines AI and cloud-based technologies with the personalized experience of a traditional insurance agency, today announced that it has successfully launched 5MinuteInsure.com in MissouriAlabamaIowa and West Virginia.

Ezra Beyman, CEO of Reliance Global Group, commented, “Today, we’re pleased to announce that we’ve extended coverage of our 5MinuteInsure.com platform to the great states of MissouriAlabamaIowa and West Virginia. These launches follow the additions of South CarolinaNorth CarolinaVirginia, and Tennessee last week. In total, our platform now spans 12 states, with a combined population of more than 82 million people, and we look forward to continuing our nationwide rollout, which complements our aggressive agency acquisition strategy.”

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Reliance Global Group Promotes Jonathan Fortman to Vice President of Acquisitions

LAKEWOOD, NJNov. 22, 2021 (GLOBE NEWSWIRE) — via NewMediaWire — Reliance Global Group, Inc. (Nasdaq: RELI; RELIW), which combines AI and cloud-based technologies with the personalized experience of a traditional insurance agency, today announced that Jonathan Fortman has been promoted from Chief Operating Officer of Reliance Global Group’s subsidiary, Fortman Insurance Services, to Vice President of Acquisitions for Reliance Global Group, where he reports directly to Mr. Ezra Beyman, Chairman and CEO.

Mr. Fortman joined Reliance Global Group in 2019 when the Company acquired Fortman Insurance Services, an independent insurance agency started by the Fortman family in 1978. Mr. Fortman joined Fortman Insurance Services in 2003 and over time, his responsibilities increased, eventually leading to his appointment as COO in 2019. Mr. Fortman earned a bachelor’s degree in Economics from Bowling Green State University in 2002.

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Reliance Global Group Announces Successful Launch of 5MinuteInsure.com in South Carolina

5MinuteInsure.com is now live in 8 states across the U.S. with a combined population of over 65 million

LAKEWOOD, N.J.Nov. 18, 2021 (GLOBE NEWSWIRE) — via NewMediaWire — Reliance Global Group, Inc. (Nasdaq: RELI; RELIW), which combines AI and cloud-based technologies with the personalized experience of a traditional insurance agency, today announced that it has successfully launched 5MinuteInsure.com in South Carolina.

Ezra Beyman, CEO of Reliance Global Group, commented, “Following our launch in South Carolina, we are now live in 8 states, with a combined population of over 65 million people.  As consumers start to experience the pain of inflation, we encourage them to visit 5MinuteInsure.com, which is a fast and easy way to save money on insurance!”

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Reliance Global Group Announces Launch of 5MinuteInsure.com in North Carolina

Third New State This Week; Coverage Now Spans 7 States in the US

LAKEWOOD, N.J.Nov. 17, 2021 (GLOBE NEWSWIRE) — via NewMediaWire – Reliance Global Group, Inc. (Nasdaq: RELI; RELIW), which combines AI and cloud-based technologies with the personalized experience of a traditional insurance agency, today announced that it has successfully launched 5MinuteInsure.com in North Carolina.

Ezra Beyman, CEO of Reliance Global Group, commented, “We are proud to extend our coverage to North Carolina following our very recent launches in Virginia and Tennessee. Our national coverage now spans 7 states and rollout is advancing very rapidly.  We are launching an aggressive marketing push in each of these states to capitalize on our momentum.”

5MinuteInsure.com is a platform developed by Reliance Global that provides an easy and efficient way to shop and buy insurance. Using artificial intelligence and data mining, 5MinuteInsure.com provides consumers with competitive insurance quotes in under 2 minutes, with the ability to bind coverage within 5 minutes. Consumers can compare live quotes for auto insurance between multiple carriers as well as instantly purchase coverage on the same single platform. A video overview of the platform is available here.

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