Patch 7.2 adds a new reputation level beyond Exalted for Broken Isles reputations: Paragon. Players already Exalted with Broken Isles factions earn special satchels for every 10,000 reputation awarded beyond Exalted, which contain unique rewards such as mounts and toys.
How to Earn Paragon Reputation
Once you are Exalted with a particular reputation, a small bag will appear on your UI indicated that you are eligible to earn Paragon reputation rewards.
Story quests grant reputation.