Mr. John Wallace reports

CALDWELL REPORTS SECOND QUARTER RESULTS

The Caldwell Partners International Inc. today released its financial results for the fiscal 2023 second quarter ended Feb. 28, 2023. All references to quarters or years are for the fiscal periods unless otherwise noted and all currency amounts are in Canadian dollars.

"The second quarter brought stabilization in overall hiring demand, albeit at levels that were lower than the same period last year -- a record-breaking fiscal year for us," said John Wallace, chief executive officer. "Clients who have been broadly talking about resuming hiring have, in part, pushed those plans further into calendar 2023 pending more certainty on evolving economic conditions. At Caldwell, our executive search team is a group of seasoned professionals who have experience advising clients through multiple economic cycles; they're using their expertise to find business in a suppressed market.

"At IQTalent, our on-demand talent acquisition augmentation business, we saw further revenue erosion in the first part of the quarter, followed by stabilization in the past several months. As a result, in January IQTalent reduced staffing levels to the stabilized business demand to lower costs and minimize operating losses at current professional fee levels. Our March 1 spinoff of IQTalent's software business and related development team will further reduce costs going forward."

Mr. Wallace continued: "We remain optimistic about our ability to return to profitability in the fiscal year and have full confidence in the strength of our spectrum of service offerings, our team and our future. Our clients value our ability to provide seamless support for their talent acquisition needs at all levels and we are focused on identifying opportunities to cross-collaborate between our two business segments."

For a complete discussion of the quarterly financial results, including a detailed segment analysis, please see the company's management discussion and analysis posted on SEDAR.

About The Caldwell Partners 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 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.

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