RELIANCE

NEWS + PRESS

Reliance Global Group Announces Launch of Homeowner’s Insurance on 5MinuteInsure.com; Introduces Bundled Home and Auto Policies

LAKEWOOD, NJJune 23, 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, announces the launch of homeowner’s insurance on 5MinuteInsure.com.  The Company has also introduced bundled home and auto policies for additional savings.

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Reliance Global Group Expands Network to Over 30 Insurance Carriers Nationwide and Now Licensed in 49 States

LAKEWOOD, NJJune 21, 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, has expanded its network to include more than 30 insurance carriers nationwide. In addition, the Company is now licensed to sell policies in 49 states.

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Reliance Global Group Appoints Senior Corporate Finance Executive William Lebovics as Chief Financial Office

LAKEWOOD, NJMay 31, 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 announces the appointment of Mr. William Lebovics as Chief Financial Officer, effective June 1, 2022.  Mr. Blumenfrucht, who previously served as Chief Financial Officer, will continue as a member of the Company’s Board of Directors and will provide support through the transition period.

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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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