FOXO Technologies Inc. Announces Receipt of Notice of Non-Compliance with NYSE Continued Listing Requirements; Completes the steps it deems necessary to restore compliance

MINNEAPOLIS, June 14, 2024 (GLOBE NEWSWIRE) — FOXO Technologies Inc. (NYSE American: FOXO) (the “Company” or “FOXO”), reports having received an official notice of non-compliance (the “NYSE American Notice”) from NYSE Regulatory (“NYSE”) indicating that the Company is not in accordance with the continued listing of the NYSE American. standards (the “Delinquency Notification”) due to an unpaid balance of registration fees more than 180 days old and the NYSE has given the Company until June 7, 2024 to make payment before the Company be subject to non-compliance procedures (the “Delinquency”). Although the Company did not pay the fees by the June 7, 2024 deadline, the Company subsequently made the required payments and believes that it is now in a position to return to compliance.

Mark White, interim CEO of FOXO, said: “We regret the delinquencies, which were due to short-term capital allocation strategies, including our recently announced planned acquisitions, which we believe will bring significant cash flow to the combined companies. Most importantly, we have since made payment and look forward to officially presenting it to NYSE American. Although there can be no guarantees, we expect to formally return to compliance with the NYSE’s U.S. Continuous Listing Standards in the near future.

Accordingly, receipt of the delinquency notification constituted official notice of NYSE regulatory non-compliance with Section 1003(f)(iv) of the Company Guide. The Company is now subject to the procedures and requirements set out in section 1009 of the Company Guide.

About FOXO Technologies Inc.

FOXO is a biotechnology company dedicated to improving human health and longevity through the development of advanced technologies and product solutions for various industries, including life insurance. FOXO’s epigenetics technology applies AI to DNA methylation to identify molecular biomarkers of human health and aging. FOXO is committed to leveraging the latest scientific and technological advances to help people live better, longer lives. For more information about FOXO, visit www.foxotechnologies.com.

Forward-looking statements

This press release contains certain forward-looking statements for purposes of the “safe harbor” provisions under the Private Securities Litigation Reform Act of 1995. Any statements other than statements of historical fact contained herein, including statements regarding the delisting of the NYSE American warrants, the trading of the warrants in the over-the-counter market, the continued listing of the Company’s Class A common stock on the NYSE American stock exchange and other statements identified by words such as “will likely result”, “expected”, “continue”, “is anticipated”, “estimated”, “believes”, “intends”, “plans”, “projection” , “outlook” or words of similar meaning, but the absence of these words does not mean that a This statement is not forward-looking. These forward-looking statements are based on the current beliefs and expectations of the Company’s management and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are difficult to predict and generally beyond the Company’s control. Many factors could cause actual future events to differ materially from the forward-looking statements contained in this press release, including, but not limited to, the possibility that the plan will not be accepted by NYSE American and that the Company may not be able to meet other continuous listing requirements. of NYSE American for its Class A common stock to maintain the listing of Class A common stock on NYSE American; the risk of changes in the competitive and highly regulated industries in which FOXO operates; variations in competitors’ operational performance or changes in laws and regulations affecting FOXO’s business; the ability to implement FOXO’s business plans, forecasts and other expectations; the ability to obtain financing; the risk that FOXO has a history of losses and may not achieve or maintain profitability in the future; FOXO’s potential inability to establish or maintain relationships necessary to advance its objectives or to achieve its marketing and development plans; the enforceability of FOXO’s intellectual property, including its patents and potential infringement of the intellectual property rights of others; and the risk of downturns and changes in the regulatory landscape in the highly competitive biotechnology sector or in the markets or sectors in which FOXO operates, including the highly regulated insurance sector. The foregoing list of factors is not exhaustive. Readers should carefully consider the above factors and other risks and uncertainties discussed in FOXO’s most recent reports on Forms 10-K and 10-Q, particularly the “Risk Factors” sections of such reports, and in other documents that FOXO has filed, or will file, with the SEC. These documents identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to place undue reliance on any forward-looking statements, and FOXO undertakes no obligation and does not intend to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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