Siebert Reports Second Quarter 2023 Financial Results - Seite 2

Andrew Reich, CFO of Siebert, commented: “We delivered solid results this quarter as our business benefited from improved market conditions along with the rise in interest rates. Our stock loan department continues to grow and achieved one of its best quarters ever and we continue to see growth in the current interest rate environment. The additional capital from the Kakao Pay investment was immediately deployed and we are already seeing a positive contribution to our financial results. Our flexible balance sheet keeps us well-positioned to navigate the remainder of the year as we focus on profitable growth and the expansion of our capabilities.”*

*Refer to Siebert’s 2023 Q2 10-Q, Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations.

Notice to Investors

This communication is provided for informational purposes only and is neither an offer to sell nor a solicitation of an offer to buy any securities in the United States or elsewhere.

About Siebert Financial Corp.

Siebert is a diversified financial services company that has been in business and a member of the NYSE since 1967 when Muriel Siebert became the first woman to own a seat on the NYSE and the first to head one of its member firms.

Siebert operates through its subsidiaries Muriel Siebert & Co., Inc., Siebert AdvisorNXT, Inc., Park Wilshire Companies, Inc., Rise Financial Services, LLC, Siebert Technologies, LLC and StockCross Digital Solutions, Ltd. Through these entities, Siebert provides a full range of brokerage and financial advisory services including securities brokerage, investment advisory and insurance offerings, securities lending, and corporate stock plan administration solutions. For over 55 years, Siebert has been a company that values its clients, shareholders, and employees. More information is available at www.siebert.com.

Cautionary Note Regarding Forward-Looking Statements

The statements contained in this press release, that are not historical facts, including statements about our beliefs and expectations, are “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements preceded by, followed by or that include the words “may,” “could,” “would,” “should,” “believe,” “expect,” “anticipate,” “plan,” “estimate,” “target,” “project,” “intend” and similar words or expressions. In addition, any statements that refer to expectations, projections, or other characterizations of future events or circumstances are forward-looking statements.