CYANOTECH CORP

As disclosed previously, on* August 10, 2023,the Company received a notification letter from the Listing Qualifications Department (the “Staff”) of The Nasdaq Stock Market LLC (“Nasdaq") notifying the Company that, for the last30* consecutive business days, the bid price for the Company's common stock had closed below the minimum*$1.00* per share requirement for continued listing on the Nasdaq under Nasdaq Listing Rule5550(a)(2) (“Bid Price Rule”). The notification letter provided that, in accordance with the Nasdaq Listing Rule5810(c)(3)(A), the Company had an initial period of180 days from the date of the notification letter, or until* February 6, 2024 (*the “Compliance Date”), to regain compliance with the Bid Price Rule.

On* February 7, 2024,the Company was notified by the Staff of the Company's failure to demonstrate compliance by the Compliance Date and the Company expects to receive a Staff Delist Determination from Nasdaq notifying the Company that its common stock will be delisted from Nasdaq for failing to comply with the Bid Price Rule. The Company doesnot expect to appeal the Staff Delist Determination within the prescribed time period. The delisting is expected to be effective February 20, 2024,and a Form25*-NSE will be filed with the Securities and Exchange Commission to remove the Company's common stock from listing on the Nasdaq Stock Market.

The Company expects that its common stock will be eligible to be traded over-the-counter. However,no assurance can be given that trading of the Company's common stock will be commenced or maintained on an over-the-counter market or any other quotation medium.

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