**FTX Plan of Reorganization Confirmed by Bankruptcy Court**

FTX Trading Ltd. (d.b.a. FTX.com) and its affiliated debtors have secured confirmation from the United States Bankruptcy Court for the District of Delaware for their Plan of Reorganization. This landmark decision comes less than two years after the company's notable bankruptcy filing. According to the terms laid out in the Plan, 98% of FTX’s creditors will receive approximately 119% of their allowed claims within 60 days of the Plan's effective date, contingent upon meeting know-your-customer and other distribution requirements.

The projected total value of property collected and converted to cash for distribution ranges between $14.7 billion and $16.5 billion. These funds include assets managed by the chapter 11 Debtors in conjunction with those controlled by the Joint Official Liquidators of FTX Digital Markets, Ltd. in the Bahamas, the Administrators of FTX Australia, the U.S. Department of Justice, and numerous private parties who have assisted in the recovery efforts.

John J. Ray III, FTX's Chief Executive Officer and Chief Restructuring Officer, expressed that the confirmation of the Plan marks a significant milestone on the road to compensating customers and creditors. He praised the dedication of the professional team that played a crucial role in recovering billions of dollars, rebuilding the company's financial records, and securing assets internationally. Ray noted the global cooperation with various governments and agencies, which have been pivotal in addressing the wrongdoings of former FTX insiders.

Looking forward, Ray projected that non-governmental creditors could receive 100% of their bankruptcy claim amounts plus interest, making this one of the largest and most intricate bankruptcy asset distributions in history. The process involves finalizing arrangements to distribute funds to creditors across more than 200 jurisdictions globally. Specialized agents are being enlisted to ensure recoveries are delivered to customers safely and swiftly. Ray acknowledged the patience of all FTX customers and creditors throughout the reorganization process.

Legal counsel for the FTX Debtors is provided by Sullivan & Cromwell LLP, with financial advisory from Alvarez & Marsal North America, LLC. Perella Weinberg Partners LP serves as the investment banker, Quinn Emanuel Urquhart & Sullivan, LLP acts as special counsel, and Landis Rath & Cobb LLP provides Delaware counsel.

For more detailed information on the court filings and related documents, interested parties are encouraged to refer to the designated resources.