Talent Acquisition and TVR

Public Policy Holding Company, Inc. ("PPHC" or "the Company") (NASDAQ: PPHC), a leading global strategic communications provider, today announced that MultiState, a PPHC subsidiary providing state-level government relations, has hired Lee Cowen and Nicholas Evans, specialists in federal, state, and local government relations, through the acquisition of the assets of their respective management companies Cowen Consulting, LLC and Putnam Strategies, LLC.

The acqui-hire additions significantly expand MultiState's stakeholder engagement practice, which works with political organizations including governors' associations (NGA, RGA, DGA), attorney general groups (NAAG, RAGA, DAGA), and other state-level (political and policy) organizations. With the addition of Lee Cowen and Nicholas Evans, MultiState's dedicated stakeholder engagement team continues its growth, complementing a broader group of MultiState staff who engage in stakeholder work across their portfolios.

MultiState established its stakeholder engagement practice over the past three years under the leadership of Maggie Mick, who previously served as Chief Advancement Officer at the Council of State Governments. The hiring of Lee Cowen and Nicholas Evans accelerates the growth of the practice and positions the firm to better serve large clients who require sophisticated multistate strategies.

Lee Cowen and Nicholas Evans bring an established client roster of major national companies and organizations. They have built trusted relationships over decades in state government affairs, and their clients represent strong candidates for MultiState's broader suite of services, including issue management and lobbying compliance.

Issue of Consideration Shares and Total Voting Rights

As part of the initial consideration payable, 21,996 New Common Shares ("Consideration Shares") have been issued to the sellers. Application has been made for the Consideration Shares, which will rank pari passu with the existing Common Shares in issue, to be admitted to trading on AIM. Dealings are expected to commence on or around 7 May 2026.

Following the issue of the Consideration Shares, the Company's total issued and voting share capital upon admission will consist of 29,350,077 Common Shares. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, securities of the Company.

Stewart Hall, CEO of PPHC, commented:

"MultiState has built something unique and distinctive in the state government affairs market, and stakeholder engagement is a natural extension of that offering. Lee and Nicholas are highly experienced and well-regarded professionals with strong client relationships, and we see real opportunity to offer those clients the full breadth of MultiState's and PPHC's capabilities."

Joe Crosby, CEO of MultiState Associates, commented:

"Lee and Nicholas are exactly the kind of people anyone would want on their team. They have been incredibly successful on their own yet recognize the additional value we collectively will bring to our clients. We've made significant investments in building our Stakeholder Engagement practice, guided by Maggie Mick and supported by our deeply experienced team - making this the perfect time for Lee and Nicholas to join us. Several of us have known Lee and Nicholas for decades; they are genuinely good people and extraordinary professionals who will accelerate our growth."

Lee Cowen, Founder of Cowen Consulting, commented:

"Nicholas and I are thrilled to be joining MultiState and the entire PPHC family. We have known the MultiState folks for decades, and we're excited to be able to enhance their stakeholder engagement practice while also being able to offer our current - and future - clients more of the complimentary services provided by MultiState and the PPHC team. With increased focus on the state policy front, we became convinced that a more comprehensive suite of services - such as issues management, compliance, research, etc. - is necessary for businesses and associations as they work with state governments to achieve their policy goals. For Nicholas and me, MultiState was the obvious choice when looking for the right teammates."

MultiState Associates is a PPHC subsidiary providing state-level government relations, issue management, regulatory tracking, and lobbying compliance services. MultiState helps companies and trade associations navigate the multistate policy landscape through a combination of strategic advisory, technology-enabled monitoring, and direct stakeholder engagement.