On October 15, 2019, Atlas Financial Holdings, Inc. (the “Company”) received the decision of the Nasdaq Hearings Panel (the “Panel”) granting the Company’s appeal with respect to the previously announced delisting notice. The Company’s continued listing on The Nasdaq Capital Market is subject to the Company’s timely compliance with certain conditions, including the filing of the Company’s Form 10-K for the fiscal year ended December 31, 2018 by January 31, 2020, and the filing of the Forms 10-Q for the quarterly periods ended March 31, June 30, and September 30, 2019 by February 28, 2020, with the Securities and Exchange Commission. In addition, the Panel granted the Company’s request to transfer the listing of its common stock from The Nasdaq Global Market to The Nasdaq Capital Market. The transfer to The Nasdaq Capital Market will occur upon the open of business on Thursday, October 17, 2019. In connection with the transfer of the Company’s listing to The Nasdaq Capital Market, the Company expects that its 6.625% Senior Unsecured Notes due 2022, which are currently listed on The Nasdaq Global Market, will be eligible to trade on the OTC Markets system effective with the open of the markets on Thursday, October 17, 2019.

As previously disclosed, on July 22, 2019, the Company received a determination from the Nasdaq Listing Qualifications Staff that served to formally notify the Company that its continued non-compliance with the Nasdaq’s filing requirements would subject the Company to delisting unless the Company timely requested a hearing before the Panel. The Panel’s decision dated October 15, 2019 follows the Company’s September 19, 2019 hearing before the Panel.

The Company is taking definitive steps to ensure its timely compliance with the terms of the Panel’s decision; however, there can be no assuance that the Company will be able to do so.