Mr. John Wallace reports

CALDWELL REPORTS SECOND QUARTER RESULTS

The Caldwell Partners International Inc. today issued its financial results for the fiscal 2024 second quarter ended Feb. 29, 2024. All references to quarters or years are for the fiscal periods unless otherwise noted and all currency amounts are in Canadian dollars.

"We saw modest sequential improvement in our results, as the softness in executive search bookings that we experienced in the first quarter dampened our second quarter revenue," said John Wallace, chief executive officer. "There has been a measurable uplift in new executive search bookings and activity so far this calendar year, and we therefore anticipate significantly higher revenue in the third quarter.

"The increased confidence we've seen coming into the new calendar year from Caldwell's executive level clients has led to a strong upturn in new bookings, as they look to fill out their executive teams. There are still suppressed hiring levels at the mid-level, which is impacting IQTalent on a more prolonged basis than Caldwell. Positively, beginning next quarter, IQTalent will realize the benefit of significant cost reduction initiatives. The Nashville office lease termination and the right-sizing of software licence agreements to reduced headcount levels will further align our cost structure with current revenue levels."

Mr. Wallace added: "Our executive search team has leveraged their wealth of experience and knowledge to navigate what has been a challenging market. We do expect higher search volumes as hiring demand continues to improve. Our clients appreciate our ability to support their talent acquisition requirements across every level, ensuring a seamless experience. By continuing to expand and strengthen our coverage across industry sectors and functional roles, and leverage opportunities for both business segments to collaborate, we anticipate continued growth for the remainder of the year."

About Caldwell Partner International Inc.

Caldwell Partners is a technology-powered talent acquisition firm specializing in recruitment at all levels. Through two distinct brands -- Caldwell and IQTalent -- the firm leverages the latest innovations in artificial intelligence (AI) to offer an integrated spectrum of services delivered by teams with deep knowledge in their respective areas. Services include candidate research and sourcing through to full recruitment at the professional, executive and board levels, as well as a suite of talent strategy and assessment tools that can help clients hire the right people, then manage and inspire them to achieve maximum business results.

Caldwell Partners' common shares are listed on the Toronto Stock Exchange and trade on the OTCQX market.

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