Market Overview

ibex Limited Announces Pricing of Initial Public Offering

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IBEX Limited ("ibex"), a leading global provider of outsourced CX solutions, today announced the pricing of its initial public offering of 4,761,905 common shares at a price of $19.00 per share. The offering consists of 3,571,429 shares offered by ibex and 1,190,476 shares to be sold by the selling shareholder. The underwriters have been granted a 30-day option to purchase up to an additional 714,285 common shares from the selling shareholder at the initial public offering price less underwriting discounts and commissions. The gross proceeds to ibex from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by ibex, are expected to be $67.9 million. ibex will not receive any proceeds from any sale of shares by the selling shareholder.

The shares are expected to begin trading on the Nasdaq Global Market on August 7, 2020, under the ticker symbol "IBEX," and the offering is expected to close on August 11, 2020, subject to customary closing conditions.

Citigroup and RBC Capital Markets are acting as joint book-running managers and as representatives of the underwriters. Baird, Truist Securities and Piper Sandler are acting as joint book-running managers for the proposed offering.

A registration statement relating to this offering was declared effective by the Securities and Exchange Commission on August 6, 2020. The offering is being made only by means of a prospectus. Copies of the final prospectus, when available, may be obtained from Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, at 1-800-831-9146 or by email at Prospectus@citi.com; or RBC Capital Markets, LLC, Attention: Equity Syndicate Department, 200 Vesey Street, 8th Floor, New York, NY 10281, at 1-877-822-4089 or by email at equityprospectus@rbccm.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Forward Looking Statements

This press release includes "forward looking information," including with respect to the timing of the closing of the initial public offering, the anticipated gross proceeds from the offering, and the commencement of trading of ibex's common shares on the Nasdaq Global Market. These statements are made through the use of words or phrases such as "expect" and similar words and expressions of the future. Forward-looking statements involve known and unknown risks, uncertainties and assumptions, including the risks outlined under "Risk Factors" in the preliminary prospectus and elsewhere in ibex's filings with the Securities and Exchange Commission, which may cause actual results to differ materially from any results expressed or implied by any forward-looking statement. Although ibex believes that the expectations reflected in its forward-looking statements are reasonable, it cannot guarantee future results. ibex has no obligation, and does not undertake any obligation, to update or revise any forward-looking statement made in this press release to reflect changes since the date of this press release, except as required by law.

About ibex

ibex helps the world's preeminent brands more effectively engage their customers with services ranging from customer support, technical support, inbound/outbound sales, business intelligence and analytics, digital demand generation, and CX surveys and feedback analytics.

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