The LGL Group Announces Update To Announced Spin-Off; Announces Sept. 30 As New Record Date And Oct. 7 As Anticipated Distribution Date

The LGL Group, Inc. (NYSE:LGL) (the "Company" or "LGL") today announced that LGL's Board of Directors has decided to reschedule the previously announced spin-off of M-Tron Industries, Inc. ("MtronPTI"). The Board has established September 30, 2022 as the new record date and October 7, 2022 as the anticipated distribution date.

MtronPTI's Registration Statement on Form 10 (the "Form 10") on file with the Securities and Exchange Commission (the "SEC") will be updated to reflect the new record and distribution dates.

After the separation, MtronPTI common stock is expected to trade under the stock ticker symbol "MPTI" and LGL will continue to trade under the stock ticker symbol "LGL."

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.