Calidi Biotherapeutics Receives NYSE American Non-Compliance Notice

Calidi Biotherapeutics, Inc. (NYSE:CLDI) ("Calidi" or the "Company"), a biotechnology company pioneering the development of targeted genetic medicines, today announced that on September 21, 2026, the Company received a notice (the "Notice") from the staff of NYSE American LLC (the "NYSE American") that the Company was not in compliance with the NYSE American's continued listing standards in Part 10, Section 1003(a)(ii)of the NYSE American Company Guide (the "Company Guide")requiring a company to have stockholders' equity of at least $4.0 million if it has reported losses from continuing operations and/or net losses in three of its four most recent fiscal years. The Notice also indicates that the Company is not currently eligible for any exemption in Section 1003(a) of the Company Guide (including the exemption provided for companies with total value of market capitalization exceeding $50 million among other things).

In connection with its non-compliance with Section 1003(a)(ii), the Company must submit a plan (the "Plan") to the NYSE American by October 21, 2026, advising of actions it has taken or will take to regain compliance with the continued listing standards by March 21, 2028. If the NYSE American determines to accept the Plan, the Company will be notified in writing and will be subject to periodic reviews, including quarterly monitoring for compliance with the Plan. If the Company does not submit a plan or if the Plan is not accepted, NYSE American will commence delisting proceedings. Furthermore, if the Plan is accepted but the Company is not in compliance with the continued listing standards by March 21, 2028, or if the Company does not make progress consistent with the Plan, the NYSE American will initiate delisting proceedings as appropriate. The Company may appeal a staff delisting determination in accordance with Section 1010 and Part 12 of the Company Guide.

The Notice has no immediate effect on the listing or trading of the Company's common stock, par value $0.0001 per share ("Common Stock"), and the Common Stock will continue to trade on the NYSE American under the symbol "CLDI", but will have an added designation of ".BC" to indicate the status of the common stock are "below compliance." The Notice does not affect the Company's ongoing business operations or its reporting requirements with the U.S. Securities and Exchange Commission.

The Company's management is reviewing its options to address the deficiencies and expects to submit a compliance plan on or before the deadline set by the NYSE American.