From Ex illis wiki
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Levelling is one of the core concepts of the game. After each battle, Battle Points are earned by each unit owned by both players. Each time a certain amount of BP is reached by a unit, it levels up. That means it is considered more experienced and powerful, thus increasing the unit's Stats. Another interesting aspect of levelling is that every 5 levels, a unit is granted a Skill Point to spend on its Skill Tree to specialize the unit further.
The amount of BP needed to level up is equal to the unit's current level if it is below level 10. After that, a unit always needs 10 BP to gain a level. A unit stops receiving BP when it reaches its maximum level.
The unit's level indicates its power. A unit's Stats increase at a rate of X 1.33 per 10 levels. Increasing all of a unit's statistics in such a manner means the unit will be twice as powerful as it were 10 levels before because of the combined effect of all statistics getting stronger at the same time.
Here are the 2 detailed levelling formulas:
Basic Stat = Basic Stat X 1.029183Level (gains 33% every 10 levels)
Final Stat = Basic Stat X 1.0717735Level (doubles every 10 levels)
The player level indicates the level a player has reached and the maximum level a unit can reach by the means of Renown Points distribution. In addition to this, each battle played awards the player a number of Renown Points equal to his Player Level. This enables low-level units to keep up with the rest of the army because the higher a Player Level is, the more Renown Points he/she will receive.
The maximum Player Level is actually set at 50.