Allego Announces Receipt of NYSE Notice of Non-Compliance With Continued Listing Standards

Allego N.V. (“Allego” or the “Company”) (NYSE: ALLG), a leading pan-European public electric vehicle fast and ultra-fast charging network, today announced that it has received written notice dated March 14, 2024 from the New York Stock Exchange (“NYSE”) indicating that the Company is not in compliance with Section 802.01C of the NYSE’s continued listing standards because the average closing price of Allego’s ordinary shares was less than US$1.00 over a consecutive 30 trading-day period.

Under the NYSE’s rules, the Company has six months following receipt of the notice to regain compliance with the minimum share price requirement. The Company can regain compliance at any time during the cure period if on the last trading day of any calendar month during the cure period the Company has a closing share price of at least US$1.00 and an average closing share price of at least US$1.00 over the 30 trading-day period ending on the last trading day of that month. In the event that at the expiration of the six-month cure period, both a US$1.00 closing share price on the last trading day of the cure period and a US$1.00 average closing share price over the 30 trading-day period ending on the last trading day of the cure period are not attained, the NYSE will commence suspension and delisting procedures.

Allego has advised the NYSE of its intention to cure the deficiency within the applicable cure period and is considering all available options in this regard, which may include, if necessary, effecting a reverse share split, subject to board and shareholder approval.

The NYSE notice has no immediate effect on the listing of the Company’s ordinary shares on the NYSE, subject to the Company’s compliance with the NYSE’s other continued listing requirements, and does not affect the Company’s ongoing business operations or its reporting obligations under the rules of the U.S. Securities and Exchange Commission.

About Allego

Allego is a leading provider of electric vehicle charging solutions, dedicated to accelerating the transition to electric mobility with 100% renewable energy. Allego has developed a comprehensive portfolio of innovative charging infrastructure and proprietary software, including its Allamo and EV Cloud software platforms. With a network of 30,000 charging points (and counting) spanning 16 countries, Allego delivers independent, reliable, and safe charging solutions, agnostic of vehicle model or network affiliation. Founded in 2013 and publicly listed on the NYSE in 2022, Allego now employs a team of 200 people striving every day to make charging accessible, sustainable, and enjoyable for all.