EBIX EXITS CHAPTER 11 AND IS DEBT FREE WORLDWIDE NOW

Core Viewpoint - Ebix Inc. has successfully completed its Chapter 11 restructuring process, emerging as a debt-free and operationally stronger company, well-positioned for future growth [1][10]. Restructuring Process - Ebix exited Chapter 11 in less than 9 months, with the restructuring plan confirmed by the US courts on August 2, 2024 [2]. - The restructuring involved multiple legal and financial professionals from various international offices [2]. Financial Performance - Prior to entering Chapter 11, Ebix had a trailing 12-month EBITDA of approximately $145 million, primarily due to non-operating loans being called [3]. - The company has a history of 23 years of consistent profitability and a remarkable shareholder return of 27,500% at one time [3][4]. Consolidation and Leadership - Ebix's results will now be consolidated into Eraaya LifeSpaces Limited, a publicly traded company on the Bombay Stock Exchange, while Ebix remains a US domiciled company [3]. - Robin Raina continues as CEO and Chairman of Ebix, with a strong track record of profitability and innovation [4][5]. Client Focus and Operations - Ebix will maintain its US operations, servicing contracts with state governments, Fortune 500 companies, and various healthcare and insurance entities [6]. - The international subsidiaries will continue to operate normally, ensuring continuity in client service across more than 75 countries [7]. EbixCash Operations - EbixCash will continue its operations with a "Phygital" strategy, combining physical outlets and an online platform across India and Southeast Asia [8][14]. - The EbixCash portfolio includes services such as money remittance, foreign exchange, travel, and wealth management across 75+ countries [9][14]. Future Outlook - With a clean balance sheet and 85% recurring revenue, Ebix is positioned to deliver strong EBITDA and cash flows [10]. - The company aims to grow its international investor base and has secured investments from notable US investors [11]. - The CEO expressed confidence in the company's potential for long-term profitable growth and commitment to delivering value to stakeholders [12].