Hyliion Receives NYSE Continued Listing Standards Notice

Hyliion Holdings Corp. (NYSE: HYLN) (“Hyliion” or the “Company”), a developer of KARNO generator and electric powertrain technologies, today announced that it has received notice from the New York Stock Exchange (the “NYSE”) on November 2, 2023 that because the average per share closing price of Hyliion's common stock over a 30 consecutive trading-day period ended November 1, 2023 was below $1.00, Hyliion was not in compliance with Section 802.01C of the NYSE’s Listed Company Manual.

Hyliion plans to notify the NYSE within 10 business days of its receipt of the notice of its intent to cure the deficiency and will consider a number of alternatives to regain compliance. Hyliion has a period of six months following receipt of the notice to regain compliance. Compliance can be regained at any time during the six-month period if on the last trading day of any calendar month during the six-month period or on the last day of the six-month period, Hyliion has both (i) a closing price of at least $1.00 per share of Hyliion common stock and (ii) an average closing price of at least $1.00 per share of Hyliion common stock over the thirty trading-days ended that day.

The notice has no immediate impact on the listing of Hyliion’s common stock, which will continue to be listed and traded on the NYSE under the symbol “HYLN” during the six month period, subject to Hyliion’s compliance with the other continued listing requirements of the NYSE.

About Hyliion

Hyliion is committed to creating innovative solutions that enable clean, flexible and affordable electricity production. The Company’s primary focus is to provide distributed power generators that can operate on various fuel sources to future-proof against an ever-changing energy economy. Headquartered in Austin, Texas, and with research and development in Cincinnati, OH, Hyliion is addressing the commercial space first with a locally-deployable generator that can offer prime power, peak shaving, and renewables matching. Beyond stationary power, Hyliion will address mobile applications such as vehicles and marine. The KARNO generator is a fuel-agnostic solution, enabled by additive manufacturing, that leverages a linear heat generator architecture. The Company aims to offer innovative, yet practical solutions that contribute positively to the environment in the energy economy. For further information, please visit www.hyliion.com.