Exela Technologies Reminds Stockholders to Cast Their Vote for Upcoming Annual Meeting of Stockholders to be held on December 29, 2023 at 10

00 a.m. Eastern Time

IRVING, Texas, Dec. 22, 2023 (GLOBE NEWSWIRE) -- Exela Technologies, Inc. (“Exela” or the “Company”) (NASDAQ: XELA, XELAP), a business process automation leader, today reminds its stockholders to vote ahead of the upcoming annual meeting of stockholders (the "Meeting"). The Meeting will be held online at www.virtualshareholdermeeting.com/XELA2023 on Friday, December 29, 2023 at 10:00 AM ET/9:00 a.m. CT. The Board of Directors of Exela unanimously recommends that the Company's stockholders vote "FOR" all proposals and "FOR" each director nominee.

The Company urges all stockholders to exercise their right to vote their shares by proxy TODAY. At the Meeting, stockholders are being asked to approve (i) the election of directors, (ii) the compensation of the Company’s named executive officers (on a non-binding, advisory basis), (iii) the adoption of the Company’s 2023 stock incentive plan, (iv) the adoption of an amendment to the Company’s certificate of designations of the Company’s Series B Cumulative Convertible Perpetual Preferred Stock (the “Series B Certificate of Designations”) to allow the Company, in its sole discretion, to have the ability to (a) pay dividends in shares of common stock, (b) pay less than all of the accrued dividends, and (c) pay dividends on any date designated by the Company's board of directors for the payment of dividends, (v) the adjournment of the Meeting, if necessary, to permit further solicitation of proxies if there are not sufficient votes at the time of the meeting to approve the proposal relating to the amendment to the Series B Certificate of Designations, and (vi) the appointment of the auditors and independent registered public accounting firm for the fiscal year ending December 31, 2023.

The Company asks that all stockholders vote their proxy, no matter how many shares they own. Each stockholder can vote his or her proxy by following the easy instructions on the proxy card which was mailed to all registered stockholders holding shares as of the close of business on October 9, 2023, the record date for the Meeting. The proxy statement (the “Proxy Statement”) filed in connection with the Meeting can be found here: https://www.sec.gov/Archives/edgar/data/1620179/000110465923111798/tm2 .... Stockholders should read the Proxy Statement, as amended on December 7, 2023, because it contains important information regarding the proposals.