TCP Settles Dispute

On July 28, 2015, TCP International Holdings Ltd. (the “Company”) and Ms. Laura Hauser entered into an agreement to settle all disputes between them, including the outstanding litigation brought by Ms. Hauser against the Company and its former Chief Executive Officer, Ellis Yan, through private mediation. As part of the settlement, Ms. Hauser will receive $3.9 million in cash, which is expected to be paid in the third quarter of 2015. The settlement will result in the dismissal of the case filed in Cuyahoga County, Ohio on February 26, 2015, by Ms. Hauser against the Company, its wholly-owned subsidiary Technical Consumer Products, Inc., and Ellis Yan.