Today, Urban One, Inc. (the "Company") reported that it received an Additional Staff Delisting Determination (the "Additional Staff Determination") from the Listing Qualifications Department of The Nasdaq Stock Market LLC ("Nasdaq"), noting that the Company is now delinquent in filing its Form 10-Q for the period ended September 30, 2023 (the "Q3 2023 Form 10-Q") and that the additional delinquency may serve as a separate basis for the delisting of the Company's securities from Nasdaq. The Additional Staff Determination serves as formal notification that the Nasdaq Hearings Panel (the "Panel") will consider the additional delinquency in rendering a determination regarding the Company's continued listing.

The Company requested a hearing before the Panel on October 5, 2023, and, as previously announced on October 17, 2023, the hearing (the "Hearing") is scheduled for November 30, 2023. As a part of its compliance plan, the Company filed its delinquent reports for the quarterly periods ended March 31, 2023 and June 30, 2023 with the Securities and Exchange Commission on November 20, 2023. The Company anticipates filing the Q3 2023 Form 10-Q on or about December 31, 2023, and will present its plan to evidence full compliance with the Nasdaq listing criteria at the Hearing.

As previously announced, on October 17, 2023, the Panel granted the Company's request to extend the stay of any suspension of trading pending the ultimate outcome of the Hearing.