XBP Europe Holdings, Inc. Signs Exclusive Non-Binding LOI To Acquire Exela Technologies BPA, LLC; If Completed, The Acquisition Will Expand XBP Europe's Revenue To More Than $1B From $145M On A Pro Forma Basis For The 12-Months Ending September 30, 2024

XBP Europe Holdings, Inc. ("XBP Europe") (NASDAQ:XBP), a pan-European integrator of bills, payments, and related solutions and services, today announced that it has entered into an exclusive, non-binding letter of intent with Exela Technologies, Inc. to acquire Exela Technologies BPA, LLC ("BPA"), a leading provider of business process automation solutions. The closing of the acquisition will be subject to BPA completing a corporate reorganization which is expected to create a sustainable capital structure with a substantially deleveraged balance sheet. If completed, the acquisition will expand XBP Europe's revenue to more than $1 billion from $145 million on a pro forma basis for the twelve months ending September 30, 2024.