RELIANCE

NEWS + PRESS

Reliance Global Group Reports 54% Increase in Revenue for the Third Quarter of 2021

Rapidly adding new states to nationwide rollout of 5MinuteInsure.com platform

LAKEWOOD, N.J.Nov. 10, 2021 (GLOBE NEWSWIRE) — via NewMediaWire — Reliance Global Group, Inc. (Nasdaq: RELI; RELIW) (“Reliance” or the “Company”), which combines artificial intelligence (AI) and cloud-based technologies with the personalized experience of a traditional insurance agency, today provided a business update and reported financial results for the third quarter ended September 30, 2021.

Ezra Beyman, CEO of Reliance Global Group, commented, “We continue to generate strong growth, as evidenced by a 54% increase in revenue to $2.6 million for the third quarter of 2021 versus $1.7 million for the same period last year, reflecting the solid performance of our insurance agencies. Given the performance of our agencies, I’m pleased to report we reduced our consolidated EBITDA* loss by 88% to approximately $87,000 for the third quarter of 2021, versus $747,000 for the same period last year, despite our ongoing investments in the 5MinuteInsure.com platform. The improved profitability reflects our continued revenue growth and scalability of the business model. On a standalone basis, these agencies collectively generated significant cash flow from operations for both the three and nine months ended September 30, 2021. At the same time, we continue to explore opportunistic acquisitions of additional cash flow positive agencies at attractive multiples, to further expand our national footprint and enhance operating efficiency. We ended the quarter with over $6.1 million of cash and restricted cash, which provides us a solid balance sheet to execute on our near and long-term growth objectives.”

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Reliance Global Group Launches 5MinuteInsure.com in Michigan and Arizona

Coverage now spans four states with plans to add additional states near term

LAKEWOOD, N.J.Nov. 03, 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 Michigan and Arizona.

Ezra Beyman, CEO of Reliance Global Group, commented, “We are excited to now offer coverage through 5MinuteInsure.com in Michigan and Arizona following a successful launch of 5MinuteInsure.com in Ohio and Indiana within just the past two months.  In the short time since our initial commercial launch, we are pleased to already offer coverage in four states with a combined population of over 35 million. We are pacing well ahead of schedule with more states to come.  Moreover, the response from customers has been quite positive given the fact they can compare multiple carriers with minimal data input, and receive competing quotes within minutes.  At the same time, we are stepping up our digital marketing activities, which we believe will provide a meaningful return on capital given the scalability of our platform and recurring revenue associated with these policies.  I could not be more excited about the growth and market potential for 5MinuteInsure.com.”

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

Follows Successful Launch in Ohio; Accelerating Rollout to Additional States Near Term

LAKEWOOD, N.J.Oct. 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 Indiana.

Ezra Beyman, CEO of Reliance Global Group, commented, “Our launch of 5MinuteInsure.com in Indiana follows our successful launch in Ohio and is an exciting next step in our plans to roll out the platform nationwide. It’s our mission to offer our customers the best insurance rates in the market and we’re pleased to bring our offerings to Indiana.  As a direct result of our marketing activities in Ohio we have witnessed an increase in daily quotes. As a result, given the scalable nature of our platform, we are accelerating our national rollout. Our continued expansion shows our commitment to executing on our business strategy to bring value to our shareholders and our customers.”

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 online.

About Reliance Global Group, Inc.

Reliance Global Group, Inc. (NASDAQ: RELI, RELIW) is combining advanced technologies, with the personalized experience of a traditional insurance agency model. Reliance Global Group’s growth strategy includes both an organic expansion, including through 5MinuteInsure.com, as well as acquiring well managed, undervalued and cash flow positive insurance agencies.  Additional information about the Company is available at https://www.relianceglobalgroup.com/.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance, condition or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in our filings with the Securities and Exchange Commission and elsewhere. The Company undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.

Contact:

Crescendo Communications, LLCTel: +1 (212) 671-1020Email: RELI@crescendo-ir.com

Reliance Global Group Announces Successful Launch of 5MinuteInsure.com

Customers reported savings of up to 60% on insurance policies

LAKEWOOD, NJ, Sept. 13, 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 Ohio, the first state in the Company’s planned nationwide rollout.

5MinuteInsure.com is a tool developed by Reliance Global that utilizes artificial intelligence and data mining to provide competitive insurance quotes in under 2 minutes, with the ability to bind coverage within 5 minutes, with minimal data input via a smartphone, tablet or computer. 5MinuteInsure.com combines the best of a traditional insurance agency, including the option for direct agent interaction, with the ability to bind a policy online. Through 5MinuteInsure.com, consumers can compare live quotes for auto insurance between multiple carriers, as well as instantly purchase coverage on the same single platform. This is a major differentiating factor from lead generator comparison sites that compare non-binding quotes and often sell personal information to third-party providers.

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H.C. Wainwright 23rd Annual Global Investment Conference

LAKEWOOD, N.J., September 10, 2021 — Reliance Global Group, Inc. (Nasdaq: RELI; RELIW), an insurtech company focused on combining advanced technologies with the personalized experience of a traditional insurance agency, today announced that Ezra Beyman, CEO of Reliance Global Group, will be presenting at the H.C. Wainwright 23rd Annual Global Investment Conference being held virtually between September 13-15, 2021 .

Reliance Global Group’s presentation will be available on-demand to registered attendees via the conference platform beginning Monday, September 13, 2021 at 7:00 AM Eastern Time.

The webcast can be accessed here and on the investor relations section of Reliance Global Group’s website at https://relianceglobalgroup.com/investor-relations/. Management will also be participating in one-on-one meetings with qualified members of the investor community throughout the conference.

About Reliance Global Group, Inc.

Reliance Global Group, Inc. (NASDAQ: RELI, RELIW) is an insurtech company combining advanced technologies, with the personalized experience of a traditional insurance agency model. Reliance Global Group’s growth strategy includes both an organic expansion, including through 5minuteinsure.com, as well as acquiring well managed, undervalued and cash flow positive insurance agencies.  Additional information about the Company is available at https://www.relianceglobalgroup.com/.

Contact:

Crescendo Communications, LLC
Tel: +1 (212) 671-1020
Email: RELI@crescendo-ir.com

Reliance Global Group Reports 33.4% Increase in Revenue for the Second Quarter of 2021

On track to commence commercial launch of 5MinuteInsure.com this summer;

increases insurance carriers on the platform to 16

LAKEWOOD, N.J.Aug. 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 provided a business update and reported financial results for the second quarter ended June 30, 2021.

Ezra Beyman, CEO of Reliance Global Group, commented, “I am pleased to report that our revenue for the second quarter of 2021 increased by approximately 33.4% to $2.2 million versus $1.6 million for the same period last year. Our solid year-over-year growth reflects the continued execution of our insurance agencies. These agencies continue to generate positive cash flow on a standalone basis and serve as further validation of our strategy to acquire regional agencies at attractive multiples in order to rapidly expand our national footprint as well as the scope of our offering. Each of these agencies provide a long term, highly predictable and profitable revenue stream based on the expected life of the insurance policies. We ended the quarter with over $6.8 million of cash and restricted cash, which provides us a solid balance sheet to execute on our growth objectives, both organic and through acquisitions.”

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Reliance Global Group Adds Lemonade and Hippo to its 5MinuteInsure.com Platform

On track for commercial launch of 5MinuteInsure.com this summer

LAKEWOOD, NJJuly 26, 2021 (GLOBE NEWSWIRE) — via NewMediaWire — Reliance Global Group, Inc. (Nasdaq: RELI; RELIW), an insurtech company focused on combining advanced technologies with the personalized experience of a traditional insurance agency, today announced its subsidiary, Fortman Insurance Services LLC, has been approved to offer insurance products from Lemonade Inc. and Hippo Enterprises Inc. through the Company’s 5MinuteInsure.com platform.

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Reliance Global Group Reports 15% Increase in Revenue for the First Quarter of 2021 and Provides Corporate Update

LAKEWOOD, N.J.May 13, 2021 — Reliance Global Group, Inc. (Nasdaq: RELI; RELIW), which combines AI and cloud-based technologies with the personalized experience of a traditional insurance agency, today provided a business update and reported financial results for the first quarter ended March 31, 2021.

Ezra Beyman, CEO of Reliance Global Group, commented, “We continue to execute on our organic growth strategy as evidenced by a 15% increase in revenue for the first quarter of 2021 over the same period last year. I am also pleased to report that we continue to increase the cash flow from our insurance operations.We ended the quarter with over $10 million of cash and restricted cash, which provides us a solid balance sheet to execute on our near and long-term growth objectives. At the same time, we are accelerating our M&A strategy by targeting additional growing, cash flow positive agencies we can acquire at attractive multiples, as illustrated by our recently announced acquisition of J.P. Kush and Associates, Inc., a premier healthcare insurance agency with over one hundred independent agents across 10 states.Importantly, this acquisition is consistent with our strategy of targeting companies that we believe will expand our national footprint, add additional carrier relationships, provide opportunities for meaningful operating synergies and are expected to be accretive to earnings. We are currently evaluating additional acquisition opportunities that we believe may be highly synergistic and in line with our core strategy.”

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Reliance Global Group Acquires Premier Health Insurance Agency J.P. Kush and Associates, Inc.

LAKEWOOD, N.J.May 13, 2021 — Reliance Global Group, Inc. (Nasdaq: RELI; RELIW), an “insurtech” company focused on combining advanced technologies with the personalized experience of a traditional insurance agency, today announced it has acquired J.P. Kush and Associates, Inc., a premier healthcare insurance agency with operations in 10 states, headquartered in Troy, Michigan. J.P. Kush’s founder, Joshua Kushnereit, will become part of the Reliance Global family as Chief Operating Officer of the new Kush Benefits Solutions, LLC, which is now a wholly owned subsidiary of Reliance Global Group, Inc.

Founded in 2008, J.P. Kush adds over 100 independent agents to Reliance’s agency network across the United States, including California, Florida, Ohio, Michigan, Mississippi, New Mexico, South Carolina, Texas, Utah and Wisconsin. J.P. Kush has established relationships with a number of the country’s leading insurance carriers. In 2019 and 2020, J.P. Kush was ranked as the most active agency writing policies with Molina Healthcare, Inc. in the State of Michigan.

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Reliance Global Group Adds Two Leading National Insurance Carriers to Its 5MinuteInsure.com Platform

LAKEWOOD, NJMarch 26, 2021 (GLOBE NEWSWIRE) — via NewMediaWire – Reliance Global Group, Inc. (Nasdaq: RELI; RELIW), an insurtech company focused on combining advanced technologies with the personalized experience of a traditional insurance agency, today announced its subsidiary, Fortman Insurance Services LLC, has been approved to offer Travelers and Nationwide insurance products nationally through the Company’s 5MinuteInsure.com platform. The Company plans to initially focus on home and auto insurance, with the goal to add additional coverages.

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