TOPGOLF CALLAWAY ISSUES STATEMENT ON RECENT MEDIA REPORTS

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Topgolf Callaway Brands Corp. (NYSE: MODG) addresses market rumors and speculation about a potential sale of the company or its golf equipment business originating from Korea. The company confirms no knowledge of any such discussions and does not plan to comment further on the matter.

CARLSBAD, Calif., March 20, 2024 /PRNewswire/ -- Topgolf Callaway Brands Corp. (NYSE: MODG) ("Topgolf Callaway Brands" or the "Company") today issued the following statement:  

While it is our long-standing practice not to respond to market rumors and speculation, in light of today's unusual market activity, coupled with a recent media report originating in Korea regarding discussions of a potential sale of the Company or its golf equipment business, we confirm that we are not aware of any such discussions. We do not intend to comment further on this topic, and we assume no obligation to make any further announcement or disclosure should circumstances change.

About Topgolf Callaway Brands Corp. 
Topgolf Callaway Brands Corp. (NYSE: MODG) is an unrivaled tech-enabled Modern Golf and active lifestyle company delivering leading golf equipment, apparel, and entertainment, with a portfolio of global brands including Topgolf, Callaway Golf, TravisMathew, Toptracer, Odyssey, OGIO, Jack Wolfskin, and World Golf Tour ("WGT"). "Modern Golf" is the dynamic and inclusive ecosystem that includes both on-course and off-course golf. For more information, please visit https://www.topgolfcallawaybrands.com.

Contact:
Katina Metzidakis
invrelations@tcbrands.com 

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SOURCE Topgolf Callaway Brands Corp.

FAQ

What is the recent market activity related to Topgolf Callaway Brands Corp. (MODG)?

The recent market activity involves rumors and speculation about a potential sale of the company or its golf equipment business originating from Korea.

Is Topgolf Callaway Brands Corp. (MODG) aware of any discussions regarding a potential sale?

The company confirms that it is not aware of any discussions about a potential sale of the company or its golf equipment business.

Will Topgolf Callaway Brands Corp. (MODG) provide further comments on this topic?

The company does not intend to comment further on the market rumors and speculation.

What is the stance of Topgolf Callaway Brands Corp. (MODG) if circumstances change?

Topgolf Callaway Brands Corp. states that it assumes no obligation to make any further announcement or disclosure if circumstances change.