TIPTREE ANNOUNCES AGREEMENT TO DISPOSE OF COMMON SHARES OF INVESQUE INC.

/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

TORONTO, March 29, 2024 /CNW/ - Tiptree Inc. ("Tiptree") (NASDAQ: TIPT) announces that certain of its subsidiaries (collectively the "Sellers"), entered into an agreement to dispose of an aggregate of 16,982,283 common shares (the "Common Shares") of Invesque Inc. ("Invesque"), in a private sale.

On March 29, 2024, the Sellers and IVQ Stock Holding Company, LLC (the "Purchaser") entered into a definitive share purchase agreement (the "Share Purchase Agreement") pursuant to which the Purchaser will purchase from the Sellers an aggregate of 16,982,283 Common Shares for US$0.036803 per Common Share, representing an aggregate purchase price of US$625,000 (the "Transaction").  Pursuant to the Share Purchase Agreement, the purchase of the Common Shares is expected to be completed on or before April 30, 2024, following the satisfaction of certain conditions.  Based on the daily average exchange rate on March 28, 2024, the Canadian equivalent for the price per Common Share is CDN$0.049868 and the aggregate purchase price is CDN$846,875

Prior to the Transaction, Tiptree beneficially owns 16,982,283 Common Shares of Invesque, representing 30.2% of the issued and outstanding Common Shares of Invesque.

Upon completion of the Transaction, Tiptree will no longer have ownership of, or control or direction over, any Common Shares of Invesque. Upon completion of the Transaction, Tiptree's ownership of the issued and outstanding Common Shares will decrease to zero and Tiptree will no longer hold securities representing 10% or more of Invesque.

Tiptree, through the Sellers, entered into the Share Purchase Agreement in order to dispose of its interest in Invesque. Tiptree may in the future acquire or dispose of securities of Invesque, through the market, privately or otherwise, as circumstances or market conditions warrant.

This press release is being issued pursuant to National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues which requires a report to be filed under Invesque's profile on SEDAR+ (www.sedarplus.ca) containing additional information respecting the foregoing matters. A copy of such report may be obtained by contacting Tiptree Inc., 660 Steamboat Road, Fl 2, Greenwich, CT 06830, Attn: Secretary, or by calling our corporate number at (212) 446-1400.

About Tiptree

Tiptree Inc. (NASDAQ: TIPT) allocates capital to select small and middle market companies with the mission of building long-term value. Established in 2007, Tiptree has a significant track record investing across a variety of industries and asset types, including the insurance, asset management, specialty finance, real estate and shipping sectors. With proprietary access and a flexible capital base, Tiptree seeks to uncover compelling investment opportunities and support management teams in unlocking the full value potential of their businesses. For more information, please visit tiptreeinc.com and follow us on LinkedIn.

Forward-Looking Statements

This release contains "forward-looking statements" within the meaning of securities laws and involve risks, uncertainties and contingencies, many of which are beyond Tiptree's control, that may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. All statements contained in this release that are not clearly historical in nature are forward-looking, and the words "will", "expect" or "following" or similar expressions are intended to identify forward-looking statements. Such forward-looking statements include, but are not limited to, statements relating to the completion of the Transaction. The forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, many of which are beyond our control, are difficult to predict and could cause actual results to differ materially from those expressed or forecast in the forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as to the date of this release. The factors described therein are not necessarily all of the important factors that could cause actual results or developments to differ materially from those expressed in any of our forward-looking statements. Other unknown or unpredictable factors also could affect our forward-looking statements. Given these uncertainties, you should not place undue reliance on these forward-looking statements. Except as required by the federal securities laws, we undertake no obligation to update any forward-looking statements.

SOURCE Tiptree Inc.