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Crown LNG Holdings Limited Discloses Receipt of NASDAQ Notice

1. CGBS received NASDAQ compliance notice due to late filing of annual report. 2. No immediate effect on CGBS's listing status reported by NASDAQ. 3. CGBS must submit a compliance plan within 60 days. 4. CGBS expects to file the report soon and regain compliance. 5. Company develops offshore LNG infrastructure, targeting lower carbon energy solutions.

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FAQ

Why Neutral?

While the non-compliance notice raises concerns, the immediate effect is nil. However, companies facing compliance issues often see stock volatility, as was the case with other firms previously warned by NASDAQ.

How important is it?

The compliance issue is serious yet manageable, affecting investor confidence temporarily. The proactive response by CGBS may mitigate long-term damage.

Why Short Term?

The 60-day compliance window creates short-term uncertainty. Historical instances show stock movements around compliance timelines can be volatile.

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LONDON, May 22, 2025 (GLOBE NEWSWIRE) -- On May 19, 2025, Crown LNG Holdings Limited (the “Company”)  (NASDAQ: CGBS), received a letter (the “Letter”) from The NASDAQ Stock Market LLC (“NASDAQ”) indicating that, as a result of not having timely filed its Annual Report on Form 20-F for the period ended December 31, 2024 (the “20-F”) with the Securities and Exchange Commission (the “SEC”), the Company is not in compliance with NASDAQ Listing Rule 5250(c)(1), which requires timely filing of all required financial reports with the SEC. The Letter has no immediate effect on the listing of the Company’s ordinary shares on the NASDAQ Capital Market. Under the Letter, the Company has 60 days following the receipt of the Letter within which to submit a plan to NASDAQ showing how it intends to regain compliance. The Company intends to file the 20-F as soon as possible, and thereafter, believes the Company will be in compliance with all of the NASDAQ continued listing requirements except as previously disclosed. Forward Looking Statements This update includes forward-looking statements that involve risks and uncertainties, including the Company’s ability to regain compliance with NASDAQ Listing Rule 5250(c)(1). Forward-looking statements are statements that are not historical facts. Such forward-looking statements are subject to risks and uncertainties, which could cause actual results to differ from the forward-looking statements, including those set forth in any subsequent filings with the Securities and Exchange Commission (the “SEC”). Copies are available on the SEC’s website, www.sec.gov. Crown expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in Crown’s expectations or any change in events, conditions or circumstances on which any statement is based. About Crown LNG Holdings Limited Crown LNG is a leading provider of offshore LNG liquefaction and regasification terminal infrastructure solutions for harsh weather locations, which represent a significant addressable market for bottom-fixed, gravity based liquefaction and floating storage regasification units, as well as associated green and blue hydrogen, ammonia and power projects. Through this approach, Crown aims to provide lower carbon sources of energy securely to under-served markets across the globe. Visit www.crownlng.com/investors for more information. Contacts InvestorsCaldwell BaileyICR, Inc.CrownLNGIR@icrinc.com MediaZach GorinICR, Inc.CrownLNGPR@icrinc.com

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