Market Newsdesk

ORLANDO, Fla. and BOCA RATON, Fla., July 05, 2023 (GLOBE NEWSWIRE) — Abacus Life, Inc. (“Abacus” or the “Company”) (NASDAQ: ABL), a leading buyer of life insurance policies and vertically integrated alternative asset manager specializing in specialty insurance products, announced that its common stock and warrants will begin trading on Nasdaq today, July 5, 2023, under the symbols “ABL” and “ABLLW”, respectively. Abacus’s listing follows the previously announced completion of its business combination with East Resources Acquisition Company (“ERES”).

Abacus’s management team will participate in an opening bell ceremony at Nasdaq on July 13, 2023 at 9:30 am ET to celebrate the public listing.

“We are excited to celebrate this important milestone for Abacus here at Nasdaq,” said Jay Jackson, Chief Executive Officer of Abacus. “Our transaction with ERES gives Abacus the opportunity to capitalize on exciting growth opportunities in the life settlement industry. I would like to thank the entire Abacus team, as well as our partners at ERES, for their support and dedication throughout this process. We are very excited to begin our next chapter as a public company and will continue to expand our platform and penetration in growing the potential $200 billion annual life settlement market.”

Abacus will continue to be led by Chief Executive Officer Jay Jackson alongside the company’s senior management team.

“We are very happy to be joining Jay and the Abacus team as they transform into a public company. Abacus has a very impressive growth story and track record of steady financial performance and we look forward to supporting the Company through this next phase of growth in scaling the business and ultimately raising awareness about this alternative asset class,” added Terrence M. Pegula, Chairman, CEO and President of ERES.

About Abacus

Abacus is a leading vertically integrated alternative asset manager specializing in life insurance products. Since 2004, the Company has purchased life insurance policies from consumers seeking liquidity and has actively managed those policies over time (via trading, holding, and/or servicing). With over $2.9 billion in face value of policies purchased, Abacus has helped thousands of clients maximize the value of their life insurance.

Over the past 18 years, the Company has built an institutionalized origination and portfolio management process that is supported by an 83-person team, long-term relationships with 78 institutional partners and 30,000 financial advisors, and the ability to operate in 49 states. The Company has serviced approximately $950 million in policies and has managed assets for large asset managers and third-party investment funds.

Abacus’ leadership team averages 20+ years of experience and consists of innovators since the life settlements industry’s inception in the mid-90s.

The Company is a proud member of the Life Insurance Settlements Association (LISA) and complies with HIPAA and privacy laws to maintain and protect confidentiality of financial, health, and medical information. Abacus is also proud to be a BBB Accredited Business with an A+ rating.

www.Abacuslife.com   

Forward-Looking Statements

This communication contains certain forward-looking statements within the meaning of the federal securities laws with respect to the transaction, including statements regarding the anticipated benefits of the transaction, the future financial condition and performance of Abacus and expected financial impacts of the transaction (including future revenue and pro forma enterprise value) and the platform and markets and expected future growth and market opportunities of Abacus. These forward-looking statements generally are identified by the words “believe,” “predict,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “scales,” “representative of,” “valuation,” “potential,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions or the negatives of these terms or variations of them. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are inherently subject to risks and uncertainties. These forward‐looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are beyond ERES’s or Abacus’s control, are difficult or impossible to predict and may differ from assumptions. Many factors could cause actual future events to differ materially from the forward-looking statements in this communication, including but not limited to: (i) the risk that the transaction disrupts current plans and operations of Abacus, (ii) the risk of difficulties in retaining employees of Abacus as a result of the transaction, (ix) the outcome of any legal proceedings that may be instituted against Abacus or against ERES related to the merger agreement or the transaction, (iii) changes in the competitive industries in which Abacus operate, variations in operating performance across competitors, changes in laws and regulations affecting Abacus’s business and changes in the combined capital structure, (iv) the ability to implement business plans, forecasts, and other expectations after the completion of the transaction, and the ability to identify and realize additional opportunities, (v) risks related to the uncertainty of Abacus’s projected financial information, (vi) current and future conditions in the global economy, including as a result of the impact of the COVID-19 pandemic, (vi) the risk that demand for Abacus’s life settlement and related offerings does not grow as expected, (vii) the ability of Abacus to retain existing customers and attract new customers, (viii) the potential inability of Abacus to manage growth effectively, (ix) the potential inability of Abacus to grow its market share of the life settlement industry or to achieve efficiencies regarding its operating model or other costs, (x) negative trends in the life settlement industry impacting the value of life settlements, including increases to the premium costs of life insurance policies, increased longevity of insureds, and errors in the methodology and assumptions of life expectancy reports, (xi) legal challenges by insurers relating to the validity of the origination or assignment of certain life settlements, (xii) the enforceability of Abacus’s intellectual property rights, including its trademarks and trade secrets, and the potential infringement on the intellectual property rights of others, (xiii) Abacus’s dependence on senior management and other key employees, (xiv) the risk of downturns and a changing regulatory landscape in the industry in which Abacus operates, and (xv) costs related to the transaction and the failure to realize anticipated benefits of the transaction or to realize estimated pro forma results and underlying assumptions, including with respect to estimated stockholder redemptions. The foregoing list of factors is not exhaustive.

Nothing in this communication should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. You should carefully consider the foregoing factors and the other risks and uncertainties which will be more fully described in the documents filed by ERES and Abacus from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers of this communication are cautioned not to put undue reliance on forward-looking statements, and Abacus and ERES assume no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Neither Abacus nor ERES gives any assurance that any of Abacus or ERES, or the combined company, will achieve expectations.

Contacts:

Abacus Life Investor Relations
[email protected]

Abacus Life Public Relations
[email protected]

OCALA, Fla., July 05, 2023 (GLOBE NEWSWIRE) — AIM ImmunoTech Inc. (NYSE American: AIM) (“AIM” or the “Company”), an immuno-pharma company focused on the research and development of therapeutics to treat multiple types of cancers, immune disorders, and viral diseases, including COVID-19, the disease caused by the SARS-CoV-2 virus, today announced that Thomas K. Equels, MS JD, Chief Executive Officer of AIM ImmunoTech and Dr. Christopher McAleer, Scientific Officer at AIM ImmunoTech will participate in the Virtual Investor Summer Spotlight Series on Wednesday, July 12, 2023 at 11:00 AM ET.

A live video webcast of the presentation will be available on the Events page of the Company’s website (aimimmuno.com). A webcast replay will be available two hours following the live presentation and will be accessible for 90 days.

About AIM ImmunoTech Inc.

AIM ImmunoTech Inc. is an immuno-pharma company focused on the research and development of therapeutics to treat multiple types of cancers, immune disorders and viral diseases, including COVID-19. The Company’s lead product is a first-in-class investigational drug called Ampligen® (rintatolimod), a dsRNA and highly selective TLR3 agonist immuno-modulator with broad spectrum activity in clinical trials for globally important cancers, viral diseases and disorders of the immune system.

For more information, please visit aimimmuno.com and connect with the Company on Twitter, LinkedIn, and Facebook.

NEW YORK, July 05, 2023 (GLOBE NEWSWIRE) — Genco Shipping & Trading Limited (NYSE: GNK) announced today that it will hold a conference call to discuss the Company’s results for the second quarter of 2023 on Friday, August 4, 2023 at 10:00 a.m. Eastern Time. The conference call will also be broadcast live over the Internet and include a slide presentation. The Company will issue financial results for the second quarter ended June 30, 2023 on Friday, August 4, 2023 before the open of market trading.

Please dial in at least 10 minutes prior to 10:00 a.m. Eastern Time to ensure a prompt start to the call.

For live webcast and slide presentation: http://www.gencoshipping.com.

If you are unable to participate at this time, a replay of the call will be available for two weeks at 416-764-8692 or 877-674-7070. Enter the code 028452 to access the audio replay. The webcast will also be archived on the Company’s website: http://www.gencoshipping.com.

About Genco Shipping & Trading Limited

Genco Shipping & Trading Limited is a U.S. based drybulk ship owning company focused on the seaborne transportation of commodities globally. We provide a full-service logistics solution to our customers utilizing our in-house commercial operating platform, as we transport key cargoes such as iron ore, grain, steel products, bauxite, cement, nickel ore among other commodities along worldwide shipping routes. Our wholly owned high quality, modern fleet of dry cargo vessels consists of the larger Capesize (major bulk) and the medium-sized Ultramax and Supramax vessels (minor bulk) enabling us to carry a wide range of cargoes. We make capital expenditures from time to time in connection with vessel acquisitions. As of July 5, 2023, Genco Shipping & Trading Limited’s fleet consists of 17 Capesize, 15 Ultramax and 12 Supramax vessels with an aggregate capacity of approximately 4,635,000 dwt and an average age of 11.3 years.

CONTACT:

Peter Allen
Chief Financial Officer
Genco Shipping & Trading Limited
(646) 443-8550

CULVER CITY, Calif., July 05, 2023 (GLOBE NEWSWIRE) — Snail, Inc. (Nasdaq: SNAL) (“Snail”), a leading, global independent developer and publisher of interactive digital entertainment, today announced its participation in the Steam Summer Sale event running from June 29 to July 13. This initiative aligns with Snail’s strategic objectives to bolster sales and expand its global footprint in the gaming community through the robust Steam platform.

As part of the Summer Sale event, Snail’s renowned survival adventure game, ARK: Survival Evolved (“ARK”), has been strategically marked down by 75%, pricing it at a highly competitive $4.99. Alongside ARK, Snail’s Old West-themed social deduction title, West Hunt, is also participating in the Summer Sale event. Developed by Tunisia-based indie game studio NewGen in collaboration with Wandering Wizard, Snail’s indie sub-label publishing division, West Hunt is offered at a 10% discount, pricing it at just $8.99.

The Summer Sale event coincides with exciting updates for West Hunt. The updates includes a dynamic, two-layered mining map along with a plethora of new content and enhancements. This innovative mining map design adds new depth to gameplay, enabling Sheriffs and Outlaws to strategize above ground or within the mine’s tunnels. It is anticipated that West Hunt will make its debut on the Nintendo Switch soon.

Jim Tsai, Chief Executive Officer of Snail, commented, “Participating in the Steam Summer Sale event offers us a significant opportunity to gain exposure of our games to a wider audience and expand our global player base. We anticipate that these discounts, coupled with our compelling new updates, will enhance the visibility and success of our games. The discount on ARK: Survival Evolved, which marked its 8th anniversary last month, signifies our strategic commitment to attract new players to this longstanding game, thereby encouraging its continued vitality.”

About Snail, Inc.

Snail is a leading, global independent developer and publisher of interactive digital entertainment for consumers around the world, with a premier portfolio of premium games designed for use on a variety of platforms, including consoles, PCs and mobile devices.

Forward-Looking Statements

This press release contains statements that constitute forward-looking statements. Many of the forward-looking statements contained in this press release can be identified by the use of forward-looking words such as “anticipate,” “believe,” “could,” “expect,” “should,” “plan,” “intend,” “may,” “predict,” “continue,” “estimate” and “potential,” or the negative of these terms or other similar expressions. Forward-looking statements appear in a number of places in this press release and include, but are not limited to, statements regarding Snail’s intent, belief or current expectations. These forward-looking statements include information about possible or assumed future results of Snail’s business, financial condition, results of operations, liquidity, plans and objectives. The statements Snail makes regarding the following matters are forward-looking by their nature: growth prospects and strategies; launching new games and additional functionality to games that are commercially successful, including the launch of ARK: Survival Ascended, ARK: The Animated Series and ARK 2; expectations regarding significant drivers of future growth; its ability to retain and increase its player base and develop new video games and enhance existing games; competition from companies in a number of industries, including other game developers and publishers and both large and small, public and private Internet companies; its relationships with third-party platforms such as Xbox Live and Game Pass, PlayStation Network, Steam, Epic Games Store, the Apple App Store, the Google Play Store, My Nintendo Store and the Amazon Appstore; expectations for future growth and performance; and assumptions underlying any of the foregoing.

Contacts:

Investors:

[email protected] 

NORWICH, N.Y., July 05, 2023 (GLOBE NEWSWIRE) — NBT Bancorp Inc. (“NBT” or the “Company”) (NASDAQ: NBTB) will release details of its financial results for the second quarter 2023 on Monday, July 31, 2023, following the market close. The Company will host a conference call at 8:30 a.m. (Eastern) Tuesday, August 1, 2023, to review these results.

The audio webcast link, along with the corresponding presentation slides, will be available on the Company’s Event Calendar page at https://www.nbtbancorp.com/bn/presentations-events.html#events prior to the beginning of the conference call. The call will also be archived on the Company’s website for twelve months and can be accessed at any time and at no cost during this period.

Corporate Overview

NBT Bancorp Inc. is a financial holding company headquartered in Norwich, NY, with total assets of $11.84 billion at March 31, 2023. The Company primarily operates through NBT Bank, N.A., a full-service community bank, and through two financial services companies. NBT Bank, N.A. has 140 banking locations in New York, Pennsylvania, Vermont, Massachusetts, New Hampshire, Maine and Connecticut. EPIC Retirement Plan Services, based in Rochester, NY, is a national benefits administration firm. NBT Insurance Agency, LLC, based in Norwich, NY, is a full-service insurance agency. More information about NBT and its divisions is available online at: www.nbtbancorp.com, www.nbtbank.com, www.epicrps.com and www.nbtinsurance.com.

BOCA RATON, Fla., July 05, 2023 (GLOBE NEWSWIRE) — NewtekOne, Inc. (the “Company”) (NASDAQ: NEWT), today announced that, through Newtek Bank and residual funding through Newtek Small Business Finance (“NSBF”), it funded a record 400 SBA 7(a) loans for the three months ended June 30, 2023, totaling $195.6 million, which represents a 21% increase over the number of 7(a) loans funded for the three months ended June 30, 2022. Newtek Bank had $103.2 million and $106.1 million, respectively, of newly approved and pending closing SBA 7(a) loans in the months of May 2023 and June 2023. The Company is reaffirming its 2023 SBA 7(a) loan funding forecast of $875 million, which would represent a 12.8% increase over 2022. Additionally, total closings across all loan products reached $249.1 million for the three months ended June 30, 2023. The Company is reiterating its previously issued earnings forecast for the full year 2023 in a range of $1.70 to $2.00 per share.

In April 2023, Newtek Bank began funding the SBA 7(a) loan origination pipeline transferred from NSBF. NSBF will remain a non-bank subsidiary of the Company and will continue to service and wind-down its legacy SBA 7(a) loan portfolio in securitization structures.

Newtek Bank had approximately $450 million in total deposits as of June 30, 2023, which represents a 221% increase in deposits compared to $140 million in deposits at National Bank of New York City (“NBNYC”) at December 31, 2022. The Company acquired the NBNYC, and renamed it Newtek Bank, N.A., on January 6, 2023.

Barry Sloane, President, Chairman and CEO commented, “We look forward to reporting our second quarter 2023 financial results during the first week in August. However, we wanted to take this opportunity to highlight our success in loan fundings and closings across all of our lending products such as SBA 7(a), SBA 504, conforming commercial and industrial loans, and conforming investor-based commercial real estate loans, which underscores our belief of the benefit of operating our legacy businesses in our new structure. Also, extremely important to note, historically our fundings for the second half of the year have been greater than the first half of the year. We believe that these loan fundings and closings metrics, in combination with building our balance sheet, will provide a cornerstone to enable us to successfully meet our financial and operational expectations and, as such, we are reiterating our earnings forecast for the full year 2023 in a range of $1.70 to $2.00 of earnings per share.”

Mr. Sloane continued, “We also want to emphasize that the record number of loans funded demonstrate two important metrics for Newtek Bank. Primarily, originating loans with lower-average balances leads to increased diversification of the credit portfolio going forward, which we believe is a desirous outcome. Secondly, the record number of loans funded further demonstrates that our technology-enabled loan origination process is more than capable of loan volume growth as we are processing a greater number of opportunities, which can lead to increased fundings. Simply put, the same effort to fund a $1.0 million loan is required to fund a $5.0 million loan. We look forward to our bright future of growth and ability further illustrate how our business model is an industry disrupter.”

Mr. Sloane concluded, “We are also pleased with Newtek Bank’s growth in total deposits to $450 million, compared to $140 million in deposits at NBNYC at December 31, 2022; another achievement in such a highly competitive environment, as well as a significant metric and part of our strategy. Newtek Bank intends to utilize its client deposits to fund the multiple loan products mentioned above and, we believe, continue to demonstrate how this cost-effective funding, out of a nationally chartered technologically enabled bank, can yield major benefits for NewtekOne and our stakeholders. We look forward to discussing all of these metrics and more during our upcoming second quarter earnings conference call.”

NewtekOne

^®
, Your Business Solutions Company^®, is a financial holding company, which along with its bank and non-bank consolidated subsidiaries, provides a wide range of business and financial solutions under the Newtek^® brand to the small- and medium-sized business (“SMB”) market. Since 1999, NewtekOne has provided state-of-the-art, cost-efficient products and services and efficient business strategies to SMB relationships across all 50 states to help them grow their sales, control their expenses and reduce their risk.

NewtekOne’s and its subsidiaries’ business and financial solutions include: banking (Newtek Bank, N.A.), Business Lending, Electronic Payment Processing, Technology Solutions (Cloud Computing, Data Backup, Storage and Retrieval, IT Consulting), eCommerce, Accounts Receivable Financing & Inventory Financing, Insurance Solutions, Web Services, and Payroll and Benefits Solutions

Newtek

^®
, NewtekOne^®, Newtek Bank, National Association^TM, Your Business Solutions Company^® and One Solution for All Your Business Needs^® are registered trademarks of NewtekOne, Inc.

Note Regarding Forward-Looking Statements


Certain statements in this press release are “forward-looking statements” within the meaning of the rules and
regulations of the Private Securities Litigation and Reform Act of 1995. These statements are based on the current beliefs and expectations of NewtekOne’s management and are subject to significant risks and uncertainties. Actual results may differ from those set forth in the forward-looking statements. Factors that could cause NewtekOne’s actual results to differ materially from those described in the forward-looking statements can be found in NewtekOne’s Annual Report on Form 10-K for the year ended December 31, 2022, which has been filed with the Securities and Exchange Commission and are available on NewtekOne’s website (https://investor.newtekbusinessservices.com/sec-filings), and on the Securities and Exchange Commission’s website (www.sec.gov). Any forward-looking statements made by or on behalf of NewtekOne speak only as to the date they are made, and NewtekOne does not undertake to update forward-looking statements to reflect the impact of circumstances or events that arise after the date the forward-looking statements were made.

SOURCE: NewtekOne, Inc.

Investor Relations & Public Relations


Contact: Jayne Cavuoto
Telephone: (212) 273-8179 / [email protected]

First Success in Nano’s Program to Financially Leverage Its DC-AI’s Deep Learning Innovations By Selling Into International Conglomerates

Waltham, Mass., July 05, 2023 (GLOBE NEWSWIRE) — Nano Dimension Ltd. (Nasdaq: NNDM, “Nano Dimension” or the “Company”), a leading supplier of Additively Manufactured Electronics (“AME”) and multi-dimensional polymer, metal & ceramic Additive Manufacturing (“AM”) 3D printers, announced today that it has made notable progress in accelerating its plans to commercialize the industrial artificial intelligence (“AI”) services of its in-house DeepCube Group by making its propriety technology available for use by external customers.

Nano Dimension has signed an agreement with a large multinational electronics company to leverage DeepCube’s deep learning-based AI technology. The Company has also entered a memorandum of understanding (“MoU”) with another international industrial company and is in the latter stages of discussions with several more leading industrial and advanced manufacturing companies for the commercial use of its DeepCube technology.

While the use cases that are contracted for or being discussed vary by customer, they are often around improving the efficacy of processes through some combination of in-line or instantaneous analysis of images and/or data. For the cases at hand, improving throughput and yield are of the utmost importance, and even slight enhancements can translate into large financial upsides.

Nano Dimension has based much of its strategy around the application of deep learning-based AI. The Company acquired DeepCube twenty-six months ago and has since leveraged its technology and its leading group of data scientists to drive improvements for its proprietary additive manufacturing systems. After seeing the improvements that deep learning-based AI for industrial applications could create, Nano Dimension explored bringing this technology directly to clients for their own use cases, and it has been well-received.

Yoav Stern, Chairman and Chief Executive Officer of Nano Dimension, commented, “We are pleased to see results so quickly after being led by a clear and present “pull” from the market. Fortunately, customers are demanding DC-AI Deep Learning Engine for specific and various applications, beyond our adaptation of it to Additive Manufacturing.

While AI has been the topic of much conversation lately, it is hard to imagine a greater set of applications for this unique technology than the opportunities we are discussing with a range of top-tier customers. The nature of their businesses and the problems they face means that DC-AI can bring notable improvements to their products and services, while also translating into a better bottom-line.”

About Nano Dimension

Nano Dimension’s (Nasdaq: NNDM) vision is to transform existing electronics and mechanical manufacturing into Industry 4.0 environmentally friendly & economically efficient precision additive electronics and manufacturing – by delivering solutions that convert digital designs to electronic or mechanical devices – on demand, anytime, anywhere

Nano Dimension’s strategy is driven by the application of deep learning based AI to drive improvements in manufacturing capabilities by using self-learning & self-improving systems, along with the management of a distributed manufacturing network via the cloud.

Nano Dimension serves over 2,000 customers across vertical target markets such as aerospace & defense, advanced automotive, high-tech industrial, specialty medical technology, R&D and academia. The company designs and makes Additive Electronics and Additive Manufacturing 3D printing machines and consumable materials. Additive Electronics are manufacturing machines that enable the design and development of High-Performance-Electronic-Devices (Hi-PED®s). Additive Manufacturing includes manufacturing solutions for production of metal, ceramic, and specialty polymers based applications – from millimeters to several centimeters in size with micron precision.

Through the integration of its portfolio of products, Nano Dimension is offering the advantages of rapid prototyping, high-mix-low-volume production, IP security, minimal environmental footprint, and design-for-manufacturing capabilities, which is all unleashed with the limitless possibilities of additive manufacturing.

For more information, please visit 


www.nano-di.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 and other Federal securities laws. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates,” and similar expressions or variations of such words are intended to identify forward-looking statements. For example, Nano Dimension is using forward-looking statements in this press release when it discusses Financially Leverage Its DC-AI’s Deep Learning Innovations by selling to external customers and the opportunities it is discussing with a range of top-tier customers, and that DC-AI can bring notable improvements to their products and services, while also translating into a better bottom-line. Because such statements deal with future events and are based on Nano Dimension’s current expectations, they are subject to various risks and uncertainties. Actual results, performance, or achievements of Nano Dimension could differ materially from those described in or implied by the statements in this press release. The forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, including those discussed under the heading “Risk Factors” in Nano Dimension’s annual report on Form 20-F filed with the Securities and Exchange Commission (“SEC”) on March 30, 2023, and in any subsequent filings with the SEC. Except as otherwise required by law, Nano Dimension undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. References and links to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release. Nano Dimension is not responsible for the contents of third-party websites.

NANO DIMENSION INVESTOR RELATIONS CONTACT

Investor Relations | [email protected]

GRAND CAYMAN, Cayman Islands, July 05, 2023 (GLOBE NEWSWIRE) — Patria Investments (“Patria”) (NASDAQ: PAX), a global alternative asset manager, announced today an agreement for the formation of a joint venture with Bancolombia, the leading full-service financial conglomerate incorporated in Colombia, with more than 148 years of experience serving clients in Colombia and Central America. The partnership will leverage Patria’s extensive private markets expertise in Latin America with Bancolombia’s well-established distribution capabilities to further expand access to alternative investment products in Colombia. At its inception, the JV will manage a permanent capital real estate investment vehicle with approximately US$1 billion of assets under management, which is the second largest fund in Colombia and focused broadly across market sectors.

“We’re very excited to announce this partnership with Bancolombia, which continues our efforts to build comprehensive local asset management practices that can provide investors with tailored alternatives products in their local currencies, as well as access to Patria’s suite of existing regional products” said Alex Saigh, Patria’s CEO. “Patria is already an established investor in Colombia through our private equity and infrastructure funds, and joining with a leading brand and distribution partner gives us a more complete presence in the country.”

The Colombian long-term savings market totals approximately US$145 billion, which has supported the growth and evolution of a US$10+ billion alternative asset management industry providing investment solutions for mandatory & voluntary pensions, life insurance companies, and private investors. Patria’s 35-year expertise in identifying, designing, and managing long-term investment solutions for institutional and private investors, together with Bancolombia’s leading position in the financial industry and developed distribution network, will allow this joint venture to provide innovative solutions to foster the local alternative asset management industry and drive long-term growth for clients.

“The creation of a new company in alliance with Patria Investments will allow us to evolve the Colombian alternative asset market, and boost our value proposition for our clients to include world-class investment solutions in Colombia” said Juan Carlos Mora, Bancolombia’s CEO.

Transaction Overview

While specific financial details of the transaction are not being disclosed, the joint venture will be structured with 51% ownership by Patria and 49% by Bancolombia, with approximately $1 billion of Fee Earning AUM at inception. Patria will contribute capital to be deployed over multiple years to support joint venture operations, as well as to fund GP commitments to promote growth of the existing real estate investment vehicle and new funds within other asset classes. The transaction is expected to close during Q3 2023, and expected to be accretive to Patria’s Fee Related Earnings and Distributable Earnings from day one.

Patria’s management team will be available to discuss the transaction on Patria’s upcoming 2^nd quarter 2023 earnings call.

About Patria Investments

Patria is a leading alternative investment firm focused on Latin America, with over 35 years of history and combined assets under management of $27.3 billion, and a global presence with offices in 10 cities across 4 continents. Patria aims to provide consistent returns in attractive long term investment opportunities that allow for portfolio diversification through its Private Equity, Infrastructure, Credit, Public Equities and Real Estate products. Through its investments Patria seeks to transform industries generating attractive returns for its investors, while creating sustainable value for society.

Further information is available at www.patria.com.

About Bancolombia

Grupo Bancolombia is a financial group with 148 years of experience that operates in Colombia and Central America, serving more than 29 million clients with financial and non-financial products and services. It includes a full range of banking solutions, trading, trust, asset management, leasing, factoring, and investment banking, among others. To generate a positive impact in the community, the organization is driven by its purpose of promoting sustainable economic development to achieve everyone´s well-being. Grupo Bancolombia delivers its products and services via its regional network comprised of Colombia’s largest non-government owned banking network, El Salvador’s leading financial conglomerate (Banagricola S.A.), International banking and local (Banistmo S.A.) banking subsidiaries in Panama, Guatemala, Cayman and Puerto Rico.

Disclaimer:

This press release is for informational purposes only and does not constitute an offer to sell, a solicitation of an offer to buy, or a recommendation to purchase any securities of Patria Investments Limited. The information contained herein does not purport to be all-inclusive. The data contained herein is derived from various internal and external sources. Any estimates or projections included should not be relied upon as being necessarily indicative of future results.

Forward Looking Statements:

This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. You can identify these forward-looking statements by the use of words such as “outlook,” “indicator,” “believes,” “expects,” “potential,” “continues,” “may,” “will,” “could,” “would,” “should,” “seeks,” “approximately,” “predicts,” “intends,” “plans,” “estimates,” “anticipates” or the negative version of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. We believe these factors include but are not limited to those described under the section entitled “Risk Factors” in our annual report on Form 20-F for the year ended December 31, 2021, as such factors may be updated from time to time in our periodic filings with the United States Securities and Exchange Commission (“SEC”), which are accessible on the SEC’s website at www.sec.gov. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in our periodic filings. We caution you not to place undue reliance on any forward-looking statements, which speak only as of the date of this investor presentation. We undertake no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, and if we do update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements. There can be no assurance that the proposed transactions described in this presentation, which are subject to certain closing conditions, will be completed, nor can there be any assurance, if the transactions are completed, that any potential benefits of the transactions will be realized. The description of the transactions contained herein is only a summary and does not purport to be complete.

Press service:

Brazil – Ideal H+K Strategies (

[email protected]

)

Rodrigo Fonseca: +55 11 9.4846-5003 / [email protected]

Patria Shareholder Relations:

Josh Wood: +1 917 769 1611 / [email protected]