SPX Corporation Files Application to Cease to be a Reporting Issuer in Canada

CHARLOTTE, N.C., July 25, 2022 (GLOBE NEWSWIRE) -- SPX Corporation (NYSE: SPXC) (“SPX” or the “Company”) announces that it has applied to the Autorité des marchés financiers (the “AMF”), as principal regulator, for an order (the “Requested Order”) that the Company has ceased to be a reporting issuer in Alberta, British Columbia, Nova Scotia and Québec.

If the Requested Order is granted, SPX will no longer be a reporting issuer in any jurisdiction of Canada. As a result, the Company will no longer be required to file financial statements and other continuous disclosure documents in Canada pursuant to Canadian securities laws.

If the Requested Order is obtained, SPX will continue to file all financial statements and other continuous disclosure materials that it is required to file in accordance with the applicable securities laws of the United States. All such continuous disclosure documents of the Company are publicly available to all Company security holders under SPX’s profile at , and the Company’s security holders resident in Canada will continue to receive all continuous disclosure documents that the Company is required to deliver to U.S. resident security holders under U.S. securities laws or exchange requirements.

SPX security holders resident in Canada are advised to seek Canadian legal advice prior to any resale of their securities of the Company.

Forward Looking Statements

The information in this announcement is not intended to guide any investment decisions in SPX Corporation. This material contains certain forward-looking information, including the possible granting of the Requested Order by the AMF and, if the Requested Order is obtained, the availability of the Company’s financial statements and continuous disclosure materials to Canadian resident security holders, and the applicability of resale restrictions to the Company’s securities. Such information is not a guarantee of future events and involves many risks and uncertainties, and may depend on regulatory developments, including actions taken by the AMF. Actual developments may differ materially from those implied or expressed by these statements and are dependent on a variety of factors. The Company believes that it has a reasonable basis for making the forward-looking statements contained in the announcement.

This forward-looking information is made as of the date of this release and, other than as required by applicable securities laws, SPX does not assume any obligation to update or revise it to reflect new events or circumstances. The forward-looking information contained in this release is expressly qualified by this cautionary statement.

About SPX Corporation: SPX Corporation is a supplier of highly engineered products and technologies, holding leadership positions in the HVAC and detection and measurement markets. Based in Charlotte, North Carolina, SPX Corporation has approximately 3,100 employees in 15 countries. SPX Corporation is listed on the New York Stock Exchange under the ticker symbol “SPXC.” For more information, please visit .

Investor and Media Contacts:

Paul Clegg, Vice President, Investor Relations and Communications

Garrett Roelofs, Assistant Manager, Investor Relations

Phone: 980-474-3806

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