La Rosa Holdings Announces Intent to Acquire a Real Estate Brokerage Firm with Over 950 Agents and 2023 Revenues in Excess of $19.0 Million Page 1

Brokerage firm offers proprietary cloud-based SaaS platform for real estate agents

Celebration, FL, Sept. 17, 2024 (GLOBE NEWSWIRE) — La Rosa Holdings Corp. (NASDAQ: LRHC) (“La Rosa” or the “Company”), a holding company for six agent-centric, technology-integrated, cloud-based, multi-service real estate segments, today announced that it has signed a non-binding letter of intent to acquire a real estate brokerage company with over 950 agents and offices in multiple states. The Company also offers a proprietary cloud-based software-as-a-service (SaaS) platform tailored for real estate agents that generated over $19.0 million in revenue in 2023.

Joe La Rosa, CEO of the Company, commented, “This potential strategic acquisition aligns with our vision to advance technology-based real estate solutions, expand our market presence and provide greater value to agents through innovative, integrated platforms. If this acquisition is completed, the brokerage’s advanced SaaS platform would play a critical role in driving our continued innovation and value creation for our agents. By integrating this sophisticated technology into our operations, we would be able to provide agents with greater flexibility and efficiency in managing their daily activities. We believe this enhanced capability would streamline their workflows, reduce administrative burdens and optimize their productivity. This would better enable agents to respond quickly and effectively to client needs and provide a higher level of service. In addition, the brokerage operates in several states where we do not currently have a presence, so once completed, this potential acquisition could provide us with valuable opportunities to introduce our ancillary services such as title insurance, property management and other complementary offerings in new markets. By entering new regions, we would expand our service scope and improve our ability to meet the diverse needs of our customers across a larger geographic area.”

“We recently announced that we have onboarded over 400 agents since June 1, 2024, demonstrating significant growth and interest in our platform. Our goal is to surpass 4,000 agents by year-end, and we believe this acquisition, once completed, can help us reach that milestone. We expect the addition of this brokerage and its extensive network to significantly increase our agent count and enhance our overall market presence. With our strategic focus on acquisitions and rapid expansion of our agent base, we forecast annual revenue of $100 million by the end of 2024. This forecast reflects our commitment to scale our operations and capture a larger market share. We expect to become profitable in 2025, supported by our growing revenue streams and efficient integration of new agents and technologies. We believe our ongoing efforts to expand our network and optimize our services are important drivers of our financial and operational goals and position us for sustained success in the years to come,” concluded Mr. La Rosa.