Symantec Receives Notification of Deficiency from Nasdaq Related to Delayed Annual Report on Form 10-K

MOUNTAIN VIEW, Calif.–(BUSINESS WIRE)–Symantec Corp. (NASDAQ: SYMC) today received a standard notice from
Nasdaq stating that, as a result of not having timely filed its annual
report on Form 10-K for the year ended March 30, 2018, Symantec is not
in compliance with Nasdaq Listing Rule 5250(c)(1), which requires timely
filing of periodic financial reports with the Securities and Exchange
Commission.

The Nasdaq notice has no immediate effect on the listing or trading of
Symantec’s common stock on the Nasdaq Global Select Market. Under
Nasdaq’s listing rules, Symantec has 60 calendar days from the date of
the letter to submit a plan to regain compliance. If the plan is
accepted by Nasdaq, Symantec can be granted an exception of up to 180
calendar days from the original due date of the Form 10-K, or until
November 26, 2018, to regain compliance. Symantec expects to submit a
plan to regain compliance or file its Form 10-K within the timeline
prescribed by Nasdaq.

About Symantec

Symantec Corporation (NASDAQ: SYMC), the world’s leading cyber security
company, helps organizations, governments and people secure their most
important data wherever it lives. Organizations across the world look to
Symantec for strategic, integrated solutions to defend against
sophisticated attacks across endpoints, cloud and infrastructure.
Likewise, a global community of more than 50 million people and families
rely on Symantec’s Norton and LifeLock product suites to protect their
digital lives at home and across their devices. Symantec operates one of
the world’s largest civilian cyber intelligence networks, allowing it to
see and protect against the most advanced threats. For additional
information, please visit www.symantec.com
or connect with us on Facebook, Twitter, and LinkedIn.

Forward-Looking Statements: This press release contains
statements which may be considered forward-looking within the meaning of
the U.S. federal securities laws, including Symantec’s expectations as
to the filing of the Annual Report on Form 10-K for the year ended March
30, 2018 and Symantec’s ability to submit a satisfactory compliance plan
to Nasdaq. These statements are subject to known and unknown risks,
uncertainties and other factors that may cause our actual results,
levels of activity, performance or achievements to differ materially
from results expressed or implied in this press release. Such risk
factors include, but are not limited to, risks relating to the ongoing
internal investigation by the Audit Committee, including: (i) the risk
that the internal investigation identifies errors, which may be
material, in Symantec’s financial results, or impacts the timing of
Symantec’s filings; (ii) the risk of legal proceedings or government
investigations relating to the subject of the internal investigation or
related matters; (iii) the risk that the completion and filing of the
Annual Report on Form 10-K will take longer than expected; and (iv) the
risk that Symantec will be unable to meet the listing standards for the
Nasdaq market. Actual results may differ materially from those contained
in the forward-looking statements in this press release. Symantec
assumes no obligation, and does not intend, to update these
forward-looking statements as a result of future events or developments.
Additional information concerning these and other risk factors is
contained in the Risk Factors sections of Symantec’s Forms 10-K and
Forms 10-Q filed with the Securities and Exchange Commission.

Contacts

Symantec Corp.
MEDIA CONTACT:
Mara Mort, 650-527-7455
Mara_Mort@symantec.com
or
INVESTOR
CONTACT:
Cynthia Hiponia, 650-527-8020
Cynthia_Hiponia@symantec.com