ExpressVPN ECONOMIC

Supply Chain & Sourcing Relationships

• ExpressVPN markets reseller, OEM, ISP, SaaS, media-platform, and white-label arrangements for its VPN service and Lightway protocol, but its partner material does not name an Israeli counterparty or Israel-specific arrangement ¹.

• Kape’s 2021 group accounts list Express Technologies Ltd. in the British Virgin Islands as an indirectly held, wholly owned group company providing agency services to Kape Acquisition Pte. Ltd., with Expressco Limited in Cyprus and Expressco Services, LLC in the United States identified as collection agents ².

• No public evidence identified of ExpressVPN procuring goods or services from Israeli agricultural exporters, using an Israeli importer-of-record entity, maintaining seasonal Israeli sourcing, or distributing Israeli-origin physical products.

• No public evidence identified in the reviewed materials of ExpressVPN sales, offices, service provision, resellers, or other commercial activity in Israeli settlements in the West Bank, East Jerusalem, or the Golan Heights ^{3, 4, 5, 6}.

Product Origin, Labeling & Regulatory Compliance

• ExpressVPN is a VPN-service business, and the reviewed corporate disclosures and commercial materials do not identify physical consumer goods that would be subject to country-of-origin or settlement-origin product-labeling requirements ^{1, 3, 5}.

• No public evidence identified of an ExpressVPN policy specifically addressing products or services originating in the West Bank, East Jerusalem, or the Golan Heights ¹.

• ExpressVPN’s privacy policy identifies Express Technologies Ltd. as operating under British Virgin Islands law, with its headquarters and registered place of business in the British Virgin Islands ⁷.

• ExpressVPN’s retail contact page identifies the trade name Express Technologies Limited and provides a Cyprus contact address in Nicosia, while not characterising that address as its headquarters or place of incorporation ⁸.

Investment, Capital & Financial Exposure

• In September 2021, Kape announced that its wholly owned subsidiary had agreed to acquire the assets, rights, liabilities, and service entities comprising ExpressVPN from Access Global Limited and its subsidiaries for approximately US$936 million ³.

• Kape announced completion of the ExpressVPN acquisition in December 2021 ⁴.

• Kape later reported final consideration of US$925.8 million, including US$334.5 million in initial cash, US$20 million due within six months, two deferred US$172.5 million cash payments, and 47,782,800 Kape shares issued to ExpressVPN founders Peter Burchhardt and Dan Pomerantz ⁹.

• The 47,782,800 shares issued to Burchhardt and Pomerantz represented approximately 13.6% of Kape’s enlarged share capital at issuance ².

• The acquisition financing included an enlarged revolving credit facility whose lender group included Bank Leumi, alongside Bank of Ireland, Barclays, Citi Commercial Bank, Citizens Bank, and BNP Paribas ⁴.

• Bank Leumi’s inclusion is evidence of a Kape group financing relationship connected with the acquisition, not evidence that ExpressVPN invested in Israeli sovereign debt, Israel Bonds, settlements, or Israeli defence companies ⁴.

• No public evidence identified in the reviewed materials of ExpressVPN direct investment in Israeli facilities, data centres, real estate, R&D programmes, Israeli sovereign bonds, or Israel-focused funds ^{3, 4, 9}.

Operational Presence & Market Activity

• ExpressVPN’s LinkedIn jobs page listed roles in Tel Aviv-Yafo or Tel Aviv District, including UX Designer, Data Engineering Team Lead, Senior Data Engineer, and Social Media Manager, when accessed in September 2026 ⁶.

• These job listings support recruitment activity in Israel but do not identify an office address, employing legal entity, workforce size, or the scope of Israeli operations ⁶.

• At the time of acquisition, Kape stated that approximately 290 ExpressVPN team members would join the group and that 48% were R&D engineers, without providing an Israel-specific workforce allocation ³.

• Kape’s 2021 annual report identifies Webselenese Ltd. as an indirectly held, wholly owned Israeli operating subsidiary and identifies Israeli holding companies Ani Ariel Ltd. and Uma Capital Ltd. within the group structure ².

• Kape reported acquiring the two holding companies owning Webselenese on 5 March 2021 for total consideration of US$155.1 million, including Gclid Ltd. assets ².

• Kape described Webselenese as a consumer privacy and security-content platform and stated that its principal R&D activities were conducted from offices including Tel Aviv, without allocating the Tel Aviv operation specifically to ExpressVPN ².

• No public evidence identified of ExpressVPN revenue attributable to Israel, Israeli tax registration, or a corporate description of Israel as a strategic market or regional hub ^{3, 4, 9}.

• No public evidence identified in the reviewed sources of ExpressVPN offices, employees, servers, sales entities, resellers, or other physical operations in the West Bank, including East Jerusalem, or the Golan Heights ^{2, 3, 4, 6}.

Corporate Structure & Foundational Ties

• ExpressVPN states that it was founded in 2009 by Peter Burchhardt and Dan Pomerantz and was based in the British Virgin Islands before it joined Kape ^{10, 11}.

• ExpressVPN publicly confirmed in December 2021 that it had joined Kape, and its press page continues to state that it has been part of Kape since 2021 ^{12, 11}.

• ExpressVPN stated in September 2021 that it would continue as a separate brand and service under Kape with its existing team ¹³.

• Kape’s acquisition disclosures identify Access Global Limited and its subsidiaries as the seller group, but do not establish that ExpressVPN was founded in Israel, legally domiciled in Israel, or held Israeli tax or preferred-technology-enterprise status ^{3, 4}.

• Kape’s 2021 accounts identify Unikmind Holdings Ltd. as Kape’s controlling party at 31 December 2021, holding 53.7%, and name Teddy Sagi as Unikmind’s sole ultimate beneficiary ².

• In May 2023, Unikmind reported holding 69.31% of Kape’s issued shares and receiving acceptances for a further 18.58%, while the reviewed records do not establish a later post-takeover ownership percentage ¹⁴.

• A subsequent source check on 7 September 2026 resolves that ownership gap: Unikmind’s current website states that it holds 432,860,855 Kape shares, representing 98.63% of issued share capital, and is wholly owned by Teddy Sagi. This supports controlling ownership, rather than the legacy assertion of exactly 100% ownership of Kape ¹⁵.

• CTech identifies Sagi as an Israeli entrepreneur and reported in 2021 that Kape employed close to 100 people in Israel after the Webselenese acquisition, with 40 additional R&D hires planned. These are historical group figures and plans, not current ExpressVPN-specific headcount ¹⁶.

• In the same interview Kape’s CEO described ExpressVPN as Webselenese’s largest customer and described acquisition integration as a group objective. That is evidence of an actual commercial link to the Israeli content-and-marketing business, distinct from an unverified claim that all ExpressVPN engineering or customer data is based in Israel ¹⁶.

• A 2023 offer announcement records that Burchhardt’s Barnyard Investments Limited and Pomerantz-associated holding vehicles Adage Holdings LLC and Pintando Holdings Ltd. together held 49,696,456 Kape shares, or approximately 11.59%, and gave irrevocable acceptances for Unikmind’s offer ¹⁷.

• No public evidence identified in the reviewed materials of Israeli state ownership, government board appointments, government contracts, critical-infrastructure designation, or governance mechanisms tying ExpressVPN to Israeli state policy ^{3, 4, 9}.

Profit Repatriation & Economic Contribution

• Kape expected its enlarged group to generate US$610–624 million in 2022 revenue and later reported that the ExpressVPN acquisition significantly increased the group’s North American penetration, but neither disclosure attributes ExpressVPN revenue or profit to Israel ^{3, 9}.

• No public evidence identified of profit repatriation from ExpressVPN into Israel or of ExpressVPN being characterised in reviewed public materials as a key Israeli employer, sector anchor, or infrastructure provider ^{3, 4, 9}.

• Globes reported in November 2023 that Teddy Sagi donated NIS 1 million to Omer Adam’s fund, which the report described as providing donations and essential products to soldiers and evacuees ¹⁸.

• The reported donation concerns Sagi personally, rather than a disclosed donation by ExpressVPN or Kape ¹⁸.

• Source-body clarification: the November 2023 report specifically describes Sagi’s NIS 1 million gift as helping families evacuated from the Gaza border. The broader Omer Adam project also supported soldiers on leave, but the report does not allocate Sagi’s gift between beneficiaries or establish transport to combat positions. It is not evidence of a US$1 million gift or of an ExpressVPN defence procurement payment ¹⁸.

• The supplied document-scoped review reported no mention of ExpressVPN in the identified UN Special Rapporteur report, OHCHR settlement-database materials, and specified civil-society reports, but this finding does not establish database-wide absence for parent entities, affiliates, or principals ^{19, 20}.

• No supportable public evidence was located in the bounded review of an ExpressVPN contract with the Israel Defense Forces, Israeli Ministry of Defence, or another Israeli government security entity ^{3, 4}.