Exela Technologies, Inc.

Exela Technologies Inc. (the “Company”) is filing this Notification of Late Filing on Form 12b-25 with respect to its Annual Report on Form 10-K for its fiscal year ended December 31, 2023 (the “Form 10-K”). The Form 10-K could not be filed within the prescribed time period due to the fact that the Company was unable to finalize the Form 10-K without unreasonable expense or effort. As a result, the Company could not solicit and obtain the necessary review of the Form 10-K in a timely fashion prior to the due date of the report. The Company requires additional time to compile and verify the data required to be included in the Form 10-K. The Company expects that it will disclose in the Form 10-K that the Company’s disclosure controls and procedures and internal control over financial reporting were not effective as of December 31, 2023 due to material weaknesses that the Company previously reported but has not yet fully remedied, and the Company also expects to continue to report substantial doubt exists about its ability to continue as a going concern under the standards of ASC Subtopic 205-40, Presentation of Financial Statements—Going Concern (“ASC 205-40”) within one year after the date that the financial statements are issued without taking into consideration the potential mitigating effects of management’s plans that have not been fully implemented as of the date the financial statements are issued. The Company expects to file its Form 10-K within the 15 calendar day extension provided by Rule 12b-25. 2 /4

Exela Technologies, Inc. (the “Company”) is unable to file its Quarterly Report on Form 10-Q for the period ended September 30, 2023 (the “Form 10-Q”) within the prescribed time period without unreasonable effort or expense for the reason described below. As disclosed in the Company’s Current Report on Form 8-K filed on April 10, 2023, the Company’s previous independent registered public accounting firm declined to stand for re-appointment for 2023 and agreed to remain the Company’s independent registered public accounting firm until completion of its review of the consolidated interim financial statements of the Company and subsidiaries as of and for the period ended March 31, 2023. On October 24, 2023, the Audit Committee of the Board of Directors of the Company approved the engagement of EisnerAmper LLP (“EisnerAmper”) as the Company’s new independent registered public accounting firm. EisnerAmper must complete its review of the unaudited interim financial information presented in the Form 10-Q under PCAOB Auditing Standard 4105, Reviews of Interim Financial Information (“AS 4105”), as required by Securities and Exchange Commission rules. Once EisnerAmper completes its AS 4105 review of this unaudited interim financial information and the unaudited financial information for applicable prior periods, the Company will file the Form 10-Q, as soon as practicable. The Company does not currently anticipate that it will be able to file Form 10-Q on or before the fifth calendar day following the prescribed filing date as a result of the circumstances described above

Exela Technologies, Inc. (the “Company”) is unable to file its Quarterly Report on Form 10-Q for the period ended June 30, 2023 (the “Form 10-Q”) within the prescribed time period without unreasonable effort or expense for the reason described below. As disclosed in the Company’s Current Report on Form 8-K filed on April 10, 2023, the Company’s previous independent registered public accounting firm declined to stand for re-appointment for 2023 and agreed to remain the Company’s independent registered public accounting firm until completion of its review of the consolidated interim financial statements of the Company and subsidiaries as of and for the period ended March 31, 2023. The Company’s audit committee is in the late stages of engaging a new independent registered public accounting firm (the “New Firm”) to act as the Company's independent auditor. Once engaged, the New Firm must complete its review of the unaudited interim financial information presented in the Form 10-Q under PCAOB Auditing Standard 4105, Reviews of Interim Financial Information (“AS 4105”), as required by Securities and Exchange Commission rules. Once the New Firm completes its AS 4105 review of this unaudited interim financial information and the unaudited financial information for applicable prior periods, the Company will file the Form 10-Q, as soon as practicable. The Company does not currently anticipate that it will be able to file Form 10-Q on or before the fifth calendar day following the prescribed filing date as a result of the circumstances described above. The Company will seek to resolve these issues as soon as practicable and intends to issue an earnings release and host a related conference call with respect to the period ended June 30, 2023, on August 14, 2023

Exela Technologies Inc. (the “Company”) is filing this Notification of Late Filing on Form 12b-25 (this “Form 12b-25”) with respect to its Annual Report on Form 10-K for its fiscal year ended December 31, 2022 (the “Form 10-K”). The Company is unable to file the Form 10-K within the prescribed time period without unreasonable effort or expense because the Company requires additional time to complete its financial statement preparation and review process, and its assessment of internal control over financial reporting. In particular, in the course of its work to date, the Company has experienced unexpected delays in compiling and analyzing supporting documentation related to its annual goodwill impairment analysis and accounting for income tax provision. As a result of the foregoing, the Company has not yet completed its year-end reporting procedures required and consequently its independent registered public accounting firm has not yet completed its audit procedures. Although the Company has not yet completed its assessment of the effectiveness of its internal control over financial reporting as of December 31, 2022, the Company expects that it will disclose in the 2022 Form 10-K that the Company’s disclosure controls and procedures and internal control over financial reporting were not effective as of December 31, 2022 due to: (i) material weaknesses that the Company previously reported but has not yet fully remedied; and (ii) additional material weaknesses in internal control over financial reporting in the areas of procure-to-pay (including operating expenses, accounts payable, and accrued liabilities), goodwill and intangible assets, journal entry recording and preparation of the consolidated financial statements including certain financial reporting processes, general information technology controls (GITCs) over user access to information technology (IT) systems at multiple components in order to adequately restrict access to appropriate IT personnel and enforc…

Form 10-K Restatement for Going Concern Assessment Subsequent to the filing of its Annual Report on Form 10-K for the fiscal year ended December 31, 2021 (the “Original 10-K”), Exela Technologies, Inc. (the “Company”) re-evaluated its application of ASC Subtopic 205-40, Presentation of Financial Statements—Going Concern (“ASC 205-40”) as of March 16, 2022, the date of the Original 10-K. Under ASC 205-40, the Company has the responsibility to evaluate whether conditions and/or events raise substantial doubt about its ability to meet its obligations as they become due within one year after the date that the financial statements are issued. In re-performing this evaluation as of the date of the Original 10-K, the Company determined the need to take into account the potential impact of certain true-up guaranties that the Company had issued in connection with the Revolving Loan Exchange and Prepayment Agreement, dated March 7, 2022, that had not previously been taken into account in its assessment. If the Company had taken the true-up guaranties into account in addition to other existing factors, the Company may not have had sufficient liquidity under its financial model to fund payment of this true-up obligation in addition to its other commitments for the twelve months following the date of the Original 10-K. Based on this evaluation and including as current, the contingent liability created by the true-up guaranty, management has determined that as of the date of the Original 10-K, there was substantial doubt about the Company’s ability to continue as a going concern for the twelve months following the date of the Original 10-K, which determination should have been disclosed in the Company’s previously issued audited financial statements included in the Original 10-K (the “audited 10-K financial statements”)

In late June 2022, the Company experienced a network security incident impacting certain of the Company’s operational and information technology systems. The Company immediately took steps to isolate the impact and prevent additional systems from being affected, including taking large parts of its network offline as a precaution and thereby disrupting some access to our applications and services by our employees and customers. The Company’s systems recovery efforts are substantially complete, and the Company’s operations are fully functional. However, the Company faced a delayed financial close as a result and, consequently, KPMG LLP, the Company’s independent registered public accounting firm, has not had sufficient time to complete its interim review procedures. Thus, the Company is unable to timely file, without unreasonable effort or expense, its Form 10-Q for the quarter ended June 30, 2022 (the “Form 10-Q”). The Company intends to file the Form 10-Q within the five-day extension period