Horizon Global Addresses NYSE Continued Listing Standards

Horizon Global Corporation (NYSE: HZN), one of the world’s leading manufacturers of branded towing and trailering equipment, today announced that on May 1, 2020, it received a letter from the New York Stock Exchange (NYSE) informing the Company of its non-compliance with NYSE continued listing standards because the Company’s average market capitalization over a recent consecutive 30 trading-day period has been less than $50,000,000 and, at the same time, stockholders' equity was less than $50,000,000.

The Company has 45 business days to notify the NYSE of its intent to cure this deficiency and Horizon Global intends to do so on a timely basis. In accordance with NYSE procedures, the Company intends to submit a plan to the NYSE demonstrating how it intends to regain compliance with the continued listing standards on or prior to January 1, 2022 (or such later date as extended by the NYSE in response to the COVID-19 pandemic).

The notice from the NYSE has no immediate impact on the listing of the Company’s common stock, which will continue to trade on the NYSE under the symbol “HZN”, but will be assigned a “.BC” indicator to signify that the Company is not currently in compliance with NYSE continued listing standards. The NYSE notification does not affect Horizon Global’s business operations, its Securities and Exchange Commission reporting requirements, or any of the Company’s material debt agreements.

Horizon Global President and CEO Terry Gohl commented, "The spread of COVID-19 has impacted all facets of our business and the global economy, as a whole, and contributed to a recent decline in our market capitalization. We have and will continue to take aggressive action to mitigate the impact of COVID-19 on our business, with a focus on our liquidity, operations and the health and safety of our workforce. Despite the pandemic, we continue to progress on our operational improvement initiatives and provide best-in-class service to our customers. We look forward to submitting a plan to the NYSE that will outline actions intended to bring Horizon Global back into compliance with the NYSE continued listing standards.”

About Horizon Global

Horizon Global is the #1 designer, manufacturer and distributor of a wide variety of high-quality, custom-engineered towing, trailering, cargo management and other related accessory products in North America and Europe. The Company serves OEMs, retailers, dealer networks and the end consumer as the category leader in the automotive, leisure and agricultural market segments. Horizon provides its customers with outstanding products and services that reflect the Company's commitment to market leadership, innovation and operational excellence. The Company’s mission is to utilize forward-thinking technology to develop and deliver best-in-class products for our customers, engage our employees and create value for our shareholders. Horizon Global is home to some of the world’s most recognized brands in the towing and trailering industry, including: BULLDOG, Draw-Tite, Fulton, Reese, Tekonsha, and Westfalia. Horizon Global has approximately 3,530 employees in 25 facilities across 17 countries. For more information, please visit www.horizonglobal.com.