Notes: July 27, 2020 -- Positive Physicians Holdings, Inc. (the “Company”) (Nasdaq: PPHI), the holding company of Positive Physicians Insurance Company, today announced that it has given formal notice to the Nasdaq Stock Market (“Nasdaq”) of its intention to voluntarily delist its common stock from the Nasdaq Capital Market and to deregister its common stock under Section 12(b) of the Securities Exchange Act of 1934 (the “Exchange Act”). The Company currently anticipates that it will file with the Securities and Exchange Commission (the “SEC”) a Form 25, Notification of Removal of Listing and/or Registration Under Section 12(b) of the Exchange Act, relating to the delisting and deregistration on or about August 5, 2020, with the delisting of its common stock taking effect no earlier than ten days thereafter. As a result, the Company expects that the last trading day of its common stock on the Nasdaq Capital Market will be on or about August 14, 2020. Following the delisting, the Company anticipates that its common stock will be quoted on the OTCQX Best Market (“OTCQX”), a centralized electronic quotation service for over-the-counter securities, so long as market makers demonstrate an interest in trading in the Company’s common stock. The Company expects to retain the trading symbol “PPHI.” However, the Company can give no assurance that trading in its common stock will continue on OTCQX or any other securities exchange or quotation medium. Further, on or about August 14, 2020, the Company intends to file a Form 15 with the SEC to suspend the Company’s reporting obligations under Section 15(d) of the Exchange Act.