Mr. John Wallace reports

CALDWELL REPORTS THIRD QUARTER RESULTS

The Caldwell Partners International Inc. has issued its financial results for the fiscal 2023 third quarter ended May 31, 2023. All references to quarters or years are for the fiscal periods unless otherwise noted, and all currency amounts are in Canadian dollars.

"Our third quarter professional fees of $25.9-million represents a 21-per-cent sequential increase from our second quarter and our return to profitability," said John Wallace, chief executive officer. "At Caldwell, our executive search team has drawn on their experience and expertise to deliver strong results in a slower market. We have leveraged our capabilities and industry diversification, we have managed to the cycle, and by growing our partner team by 12 per cent over last year -- when we posted record high revenue -- we are very well positioned as search volumes recover.

"At IQTalent, our on-demand talent acquisition augmentation business, our first and second quarter restructuring and the spinoff of our IQRecruit software business in the third quarter have had the intended cost-saving benefits. We have enhanced our sales capability and are focused on diversifying our industry coverage. As revenue growth returns, we are rebalancing our work force to limit our exposure to future market swings."

Mr. Wallace continued, "We remain confident in the strength of our spectrum of service offerings and see the increased collaboration between our two business segments as confirmation of the value of providing clients with seamless talent acquisition support."

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 artificial intelligence 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.

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

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