Reliance closes sale of Southwestern Montana Insurance Center for $2.625M cash plus uncapped earnout

Reliance Global Group, Inc.

Sold 100% of Southwestern Montana Insurance Center to Scali Insurance Group for $2.625M cash at closing, effective Sept 1, 2026.
Cash based on 8.75x pro forma EBITDA of $300K; uncapped earnout of 8.75x any EBITDA above $300K through Aug 31, 2027.
Applied $1,207,324.67 of proceeds to repay Oak Street Funding term loan; Oak Street released security interests and liens on SMI assets.
No shares issued; divestiture part of 2025 portfolio monetization strategy to fund RELI Exchange AI platform and pay down debt.
Sale is in addition to previously announced pending divestiture of Michigan-based Altruis Benefit Consulting agency.

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