HONG KONG,Aug. 27,2024 -- CLPS Incorporation (the "Company" or "CLPS") (Nasdaq: CLPS) announced today the successful grand opening of its wholly-owned Singapore-based learning institution,College of Allied Educators Pte. Ltd. ("CAE"). This milestone marks a strategic move to vertically integrate the Company's business with academic education.

The opening ceremony brought together distinguished leaders and industry experts from various sectors. Attendees included Dr. Han Jun,Minister Counsellor (Educational Affairs) of the Embassy of the People's Republic of China in Singapore; Mr. Paul Xiaofeng Yang,Chairman of CLPS; Mr. Raymond Minghui Lin,CEO of CLPS and Chairman of CAE; Mr. Guo Hang,VP of Guangzhou College of Commerce ("GCC"); Mr. Dominic Ramsden,Head of Academic Quality Enhancement at Leeds Beckett University in the UK; and Ms. Monika Jephcott,CEO and Clinical Director of Play Therapy UK. The event also saw CAE representatives and other prominent figures from academia and the industry coming together to witness this momentous occasion.

During the ceremony,Mr. James Zhang,Managing Director and representative of CAE,signed a Memorandum of Understanding ("MoU") with Leeds Beckett University to introduce IT and business management programs at the undergraduate and postgraduate levels. Additionally,CAE signed MoUs with GCC,Shandong Polytechnic College,and Shandong Xiehe University to collaborate on 2+2 and bachelor's to master's degree programs. The signing was jointly witnessed by Mr. Wilson Wong,Vice Principal of CAE,and Mr. Tan Teck Leng,College Director of CAE,both of whom expressed their optimism and confidence in future collaborations.

Since CLPS acquired CAE in January 2024,the two parties have worked together to eliminate the barriers between academic education and business practice. A diverse faculty of over 100 members,including seasoned professors,industry experts,and associates,is working diligently to achieve this. Moreover,significant investments are being made to develop a state-of-the-art urban campus in Singapore's financial business district. Moving forward,CAE plans to establish applied skills facilities and a business mentorship program to provide students with internship opportunities,project collaborations,and career guidance.

Mr. Raymond Minghui Lin stated,"The grand opening of CAE signifies a significant milestone in the Company's diversification. It presents an additional revenue stream,with projected contributions of approximately 17% to our revenue generated in Singapore. By cultivating a strong synergy between business and education,CAE will not only elevate the learning experience for students but also revitalize CLPS's sustainable development,leading to a mutually beneficial relationship."

Dr. Han Jun extended his warm congratulations on behalf of the Chinese Embassy in Singapore. He said,"CLPS's deep integration with the education sector has opened up new avenues for Chinese companies to expand their global reach. By synergizing business practices with educational approaches and leveraging the strengths of both countries' resources,we can promote a culture of lifelong learning. We hope that CAE will make even greater contributions to society in the future,help improve employment rates,and actively take on more social responsibility."

About CLPS Incorporation

Headquartered in Hong Kong,CLPS Incorporation is a global leading information technology ("IT") consulting and solutions service provider focused on delivering services primarily to global institutions on the banking,wealth management,e-commerce,and automotive sectors. The Company serves as an IT service provider to a growing network of clients in the global financial service industry,including large financial institutions in the U.S.,Europe,Australia,Asia,and their PRC-based IT centers. The Company maintains 20 delivery and/or research & development centers to serve different customers in various geographic locations. Mainland China centers are located in Shanghai,Beijing,Dalian,Tianjin,Xi'an,Chengdu,Guangzhou,Shenzhen,Hangzhou,and Hainan. The remaining 10 global centers are located in Hong Kong SAR,USA,Japan,Singapore,Malaysia,India,Philippines,Canada,and UAE. For further information regarding the Company,please visit:https://ir.clpsglobal.com/,or follow CLPS onFacebook,Instagram,LinkedIn,X (formerly Twitter),and YouTube.

Forward-Looking Statements

Certain of the statements made in this press release are "forward-looking statements" within the meaning and protections of Section 27A of the Securities Act of 1933,as amended,and Section 21E of the Securities Exchange Act of 1934,as amended. Forward-looking statements include statements with respect to the Company's beliefs,plans,objectives,goals,expectations,anticipations,assumptions,estimates,intentions,and future performance. Known and unknown risks,uncertainties and other factors,which may be beyond the Company's control,may cause the actual results and performance of the Company to be materially different from such forward-looking statements. All such statements attributable to us are expressly qualified in their entirety by this cautionary notice,including,without limitation,those risks and uncertainties related to the Company's expectations of the Company's future growth,performance and results of operations,the Company's ability to capitalize on various commercial,M&A,technology and other related opportunities and initiatives,as well as the risks and uncertainties described in the Company's most recently filed SEC reports and filings. Such reports are available upon request from the Company,or from the Securities and Exchange Commission,including through the SEC's Internet website at http://www.sec.gov. We have no obligation and do not undertake to update,revise or correct any of the forward-looking statements after the date hereof,or after the respective dates on which any such statements otherwise are made.

Contact:

CLPS Incorporation

Rhon Galicha

Investor Relations Office

Phone: +86-182-2192-5378

Email:ir@clpsglobal.com