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Clairvest Update on Digital Media Solutions

Toronto, Ontario (April 23, 2020) – Clairvest Group Inc. (TSX: CVG) today announced that Digital Media Solutions Holdings, LLC (“DMS”), a portfolio company of Clairvest Group Inc. and Clairvest Equity Partners V (collectively, “Clairvest”), has entered into an agreement to combine with Leo Holdings Corp. (NYSE: LHC) (“Leo”), a publicly traded special purpose acquisition company.

Immediately following the closing of the proposed transaction, Leo intends to change its name to Digital Media Solutions, Inc. (“New DMS”). The current DMS executive management team will continue to lead New DMS, which is expected to trade on the New York Stock Exchange.

Should the transaction close on contemplated terms, Clairvest will receive cash proceeds in the transaction but will also retain a significant continuing equity interest in New DMS. Clairvest’s percentage ownership is dependent upon the number of Leo Class A ordinary shares that are redeemed by Leo’s public shareholders in connection with the proposed transaction. Clairvest will continue to have representation on the New DMS board of directors.

Clairvest’s and the DMS management team’s obligation to consummate the transaction is subject to, among other things, the delivery by Leo of a minimum cash amount. There can be no assurance that the transaction will be consummated.