Just Energy Receives Continued Listing Standards Notice From NYSE, Regarding Failure To Maintain Average Closing Share Price Of At Least US$1.00

Just Energy Group Inc. ('Just Energy' or the 'Company') announced that, on March 23, 2020, it received written notification from the New York Stock Exchange ("NYSE") that it was not in compliance with the standard set forth in Rule 802.01C of the NYSE Listed Company Manual that requires listed companies to maintain an average closing share price of at least US$1.00 over a consecutive 30 trading-day period.

"This notification is not discretionary and is sent when a listed company’s share price falls below the NYSE’s minimum price listing standard," the Company said

"As required by the NYSE, the Company intends to respond to the NYSE within ten business days and notify the NYSE of its intent to cure the deficiency and return to compliance with the NYSE continued listing requirements. The Company has six months following the receipt of the noncompliance notice to cure the deficiency and regain compliance. Under the NYSE rules, the Company can regain compliance at any time during the six-month cure period if, on the last trading day of any calendar month during the cure period, its common stock has a closing share price of at least US$1.00 and an average closing share price of at least US$1.00 over the 30 trading-day period ending on the last trading day of that month. Failure to regain compliance during the cure period or the Company’s failure to maintain other listing requirements could lead to a delisting," the Company said

"During this period, the Company's common stock will continue trading on the NYSE under its existing ticker symbol, with the addition of a suffix indicating the 'below compliance' status of its common stock, as 'JE.BC.' The trading of Just Energy’s shares on the Toronto Stock Exchange remains unaffected," the Company said

"The notice does not affect the Company's business operations, or its Securities and Exchange Commission reporting requirements, and does not conflict with or cause an event of default under any of the Company's material debt agreements," the Company said