Trust Insurance Cyprus Launches eBaoCloud DigitalCore into Production to Support Its Business Growth and Digital Transformation MENA Press Release February 9, 20210 SHANGHAI, Feb. 9, 2021 /PRNewswire/ — eBaoTech Corporation (eBaoTech), announced that Trust Insurance Cyprus, a subsidiary of Trust Holding, successfully launched, on January 17, 2021, eBaoCloud® DigitalCoreTM (DigitalCore) in production for end to end life cycle operations of its general insurance business, replacing a legacy system that has been in use for decades. Since its launch, the new platform has been operating smoothly with strong user satisfaction and operation efficiency boost. Headquartered in Cyprus, Trust Holding, a fully owned entity of Nest Investments Holding, is a leading regional insurance group with business in more than 7 countries across Middle East, North Africa and in Cyprus. Trust Holding selected DigitalCoreTM for system modernization, to increase its business agility, connectivity/innovation capabilities and operation efficiency in the digital age. eBaoCloud® DigitalCoreTM is designed for digital insurance with strong connectivity and API orientations. Its successful launch provides a strong platform for Trust Insurance Cyprus to accelerate its digital transformation. Marwan Bataineh, Group Chief Technology & Information Officer of Nest Investment Holding commented, “We are so excited that the new digital platform went live during these exceptionally circumstances and challenges we are facing from the COVID-19 pandemic. The teams from Trust in Cyprus and Jordan, and eBaoTech in Shanghai and Wuxi had to collaborate and work remotely through the whole year with a 6 hour time difference. I am so glad that with the strong support from our Board of Directors, our management team and the dedication and professionalism of the joint teams, we successfully launched the new digital platform as a backbone to enable our innovations and growth. We look forward to the implementation of DigitalCore to all insurance subsidiary companies of Trust Holding Group”. Christos Christodoulou, CEO of Trust Cyprus added, “We want to express our great appreciation and respect to eBaoTech’s team for their professional and methodical approach to make this project a success. Their commitment and dedication was remarkable and beyond our expectations. With the new policy admin platform in place, we are now able to offer a better service to our Agents and Customers. We now have much stronger connectivity capabilities to increase our services and user experience to our agents and policy holders. We feel that with a strong technology partner such as eBaoTech we will maintain and increase our leading position in the new technological era.” Kamel Abunahl, CEO of Trust Holding highlighted, “This is a big success for both organizations and a great team work. We are glad of our decision to choose eBaoTech as our long-term partner for the transformation of our Group Insurance companies into the new digital era. Today, by using eBaoTech’s DigitalCore, we have one more tool to enable the Group Companies to advance further faster with better controls. This is the first step of a long journey and future cooperation with eBao”. “We are much honored to be the technology partner of Trust Holding insurance operation and we are very grateful for their management team’s continuous support and trust. We look forward to working with Trust Insurance as a long term partner to support their business growth in the Middle East region ,” added by Woody Mo, CEO of eBaoTech. About Trust Insurance Cyprus Trust Insurance Cyprus provides optimum insurance services on an international level for over a decade. Since August 2009, it has extended its dynamic presence in the Cyprus Market with a capital in excess of € 8.000.000, residing in the top tier of the industry. The company’s successful growth is a motivation for significant future movements in creating innovative ideas as to become one of the leading insurance companies within the Insurance Industry. For more information, visit: https://www.trustcyprusinsurance.com/ About Trust Holding Trust Holding was founded in 2007. It has set its vision to focus on growing its role and relationship with its subsidiaries to being an active support hub helping respecting operations to enhance their economic value in their respective markets on local and global views. Trust Holding have presence in the MENA region, North Africa and Europe such as Algeria, Palestine, Lebanon, Yemen, Iraq and Cyprus. About eBaoTech eBaoTech® is a technology solution provider for global insurance industry. Our mission from start is to “make insurance easy”. We have business in more than 30 countries across all continents, serving numerous insurers, agents, brokers, InsurTech startups and others in the insurance ecosystem. eBaoTech offers two groups of solutions: eBao® Cloud including SaaS and PaaS solutions and eBao® Software for traditional insurance carriers’ core systems. For more information, please visit www.ebaotech.com.