IRVING, Texas April 4, 2023 -- Exela Technologies, Inc. (“Exela”) (NASDAQ: XELA, XELAP), a global business process automation (“BPA”) leader, today announced the launch of a Treasury-as-a-Service (“TaaS”) solution within the Bills and Payments (“XBP”) portfolio. Exela has worked with one of the top 5 commercial banks to create a unique end-to-end service that combines solutions for three major workflow components required in a company’s treasury function including bill print services, payment/remittance processing and a streamlined digital payment platform. Exela’s TaaS solution provides interoperability and rapid onboarding of customers and customization. The XBP portfolio is part of Exela’s Information and Transaction Processing Solutions (“ITPS”) accounting segment, which generated $765 million in revenue for FY 2022.

“Banks are looking for solutions that enable ease of use and ease of adoption while focusing on factors such as time-to-market, ability to scale and optimizing cost of ownership. Our TaaS solution is a one stop shop that delivers on these goals by providing a configurable solution that can be rapidly deployed to new financial institutions and enable faster payments to treasury customers,” said Lakshmi Narayanan Chandramohan, President, Bills and Payments

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About Exela Technologies

Exela Technologies is a business process automation (BPA) leader, leveraging a global footprint and proprietary technology to provide digital transformation solutions enhancing quality, productivity, and end-user experience. With decades of experience operating mission-critical processes, Exela serves a growing roster of more than 4,000 customers throughout 50 countries, including over 60% of the Fortune® 100. Utilizing foundational technologies spanning information management, workflow automation, and integrated communications, Exela’s software and services include multi-industry, departmental solution suites addressing finance and accounting, human capital management, and legal management, as well as industry-specific solutions for banking, healthcare, insurance, and the public sector. Through cloud-enabled platforms, built on a configurable stack of automation modules, and approximately 16,000 employees operating in 21 countries, Exela rapidly deploys integrated technology and operations as an end-to-end digital journey partner

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Forward-Looking Statements

Certain statements included in this press release are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as "may", "should", "would", "plan", "intend", "anticipate", "believe", "estimate", "predict", "potential", "seem", "seek", "continue", "future", "will", "expect", "outlook" or other similar words, phrases or expressions. These forward-looking statements include statements regarding our industry, future events, estimated or anticipated future results and benefits, future opportunities for Exela, and other statements that are not historical facts. These statements are based on the current expectations of Exela management and are not predictions of actual performance. These statements are subject to a number of risks and uncertainties, including without limitation those discussed under the heading "Risk Factors" in Exela's Annual Report and other securities filings. In addition, forward-looking statements provide Exela's expectations, plans or forecasts of future events and views as of the date of this communication. Exela anticipates that subsequent events and developments will cause Exela's assessments to change. These forward-looking statements should not be relied upon as representing Exela's assessments as of any date subsequent to the date of this press release.

Investor and/or Media Contacts:

Vincent Kondaveeti

E: vincent.kondaveeti@exelatech.com

Mary Beth Benjamin

E: IR@exelatech.com