HC2 Holdings Issues Statement On ISS Report

HC2 URGES STOCKHOLDERS TO OPPOSE PERCY ROCKDALE’S PROPOSALS AND AGREES WITH ISS RECOMMENDATION TO VOTE AGAINST GORZYNKSI, GREENWOOD AND HICKEY

ISS Questions the Viability of Percy Rockdale’s Strategy and Highlights Percy Rockdale’s Potential Short-Term Focus Could Put Long-Term Stockholders’ Investment at Risk

ISS Recommends AGAINST Gorzynski and Questions Gorzynski's Ability as Interim CEO and Board Member Given His Lack of Experience as a Public Company Executive or Director

ISS Supports HC2’s Nomination of Avram Glazer to the Board at Upcoming 2020 Annual Meeting and His Appointment as Chairman Upon Election

HC2 Recommends Stockholders Sign, Date and Promptly Return the WHITE Consent Revocation Card and Mark “REVOKE MY CONSENT” Boxes to Oppose Each of Percy Rockdale’s Proposals and Support HC2’s Independent, Experienced and Highly-Qualified Directors, and Discard Any Materials from Percy Rockdale

NEW YORK, April 23, 2020 (GLOBE NEWSWIRE) -- HC2 Holdings, Inc. (“HC2” or the “Company”) (NYSE: HCHC), a diversified holding company, today issued the following statement in response to an April 23, 2020 report from Institutional Shareholder Services (“ISS”). HC2 urges stockholders to sign, date and promptly return the WHITE consent revocation card and mark “REVOKE MY CONSENT” boxes to oppose each of Percy Rockdale’s proposals and support HC2’s independent, experienced and highly-qualified nominees. Stockholders should also discard any materials from Percy Rockdale including their green consent card.

“While we strongly disagree with ISS’s failure to recommend the full slate of HC2’s highly-qualified director nominees, we are pleased ISS recognizes the importance of Warren Gfeller’s, Lee Hillman’s and Julie Springer’s Board membership to HC2’s productive execution of its strategic plan and continued success. We strongly concur with ISS’s assessment that Avram Glazer is strongly independent, and that they support Mr. Glazer’s nomination to HC2’s Board and appointment as Board Chairman if elected at the Annual Meeting. All HC2 stockholders should not take any action in the consent and properly vote in director elections at the upcoming Annual Meeting.”