Mr. Matthew Proud reports

DYE & DURHAM ENTERS INTO AGREEMENT TO SELL TM GROUP FOR UP TO POUNDS STERLING 91 MILLION; UP-FRONT PROCEEDS TO BE USED TO REDUCE DEBT

Dye & Durham Ltd. has entered into an agreement to sell TM Group (U.K.) Ltd. to Aurelius, a globally active alternative investment firm.

As part of the transaction, Dye & Durham will receive approximately 50 million British pounds in cash at closing, with up to 41 million British pounds in potential additional earnout payments between 2023 and 2026, for total consideration of up to 91 million British pounds, subject to certain adjustments. Closing is expected to occur in August and the transaction has received approval from the United Kingdom's Competition and Markets Authority. Dye & Durham plans to use the net proceeds it receives at closing to reduce its debt.

"We're pleased to enter into this agreement with Aurelius and put this regulatory process behind us. While TM Group wasn't material to our overall business, it is a profitable organization that will generate additional value in the hands of its new ownership," said Dye & Durham chief executive officer Matthew Proud. "We plan to seek new M&A [merger and acquisition] opportunities in the U.K. to continue to scale our business into the world's leading legal technology company."

About Dye & Durham Ltd.

Dye & Durham provides premier practice management solutions empowering legal professionals every day, delivers vital data insights to support critical corporate transactions, and enables the essential payments infrastructure trusted by government and financial institutions. The company has operations in Canada, the United Kingdom, Ireland and Australia.

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