⏲ 01 February 2019, 04:00 (PST) TaylorMade Company and Parsons Xtreme Golf (PXG) Reach Agreement

CARLSBAD, Calif. (January 30, 2019)– TaylorMade Golf Company and Parsons Xtreme Golf (PXG) jointly announced today that they have reached a settlement of the pending patent litigation and related patent disputes between the parties.

Under the terms of the agreement, each company will have specified rights to make club products under patent cross-licenses.

"I’m pleased that we were able to reach an acceptable and amicable resolution to put this case behind us so we can continue focusing bringing industry leading equipment innovations to the golfer." — David Abeles, TaylorMade Golf, CEO

"As a innovator, PXG will continue to pursue research and development and obtain patents for our novel club designs in the technology space. We will not hesitate to assert those patents in the future." — Bob Parsons, PXG, CEO

Details of the settlement are confidential.

Jory Mendes Manager of Global Brand Communications [email protected] 760.476.8041 itsthejor

ABOUT TAYLORMADE GOLF

About TaylorMade Golf Company Headquartered in Carlsbad, California, TaylorMade Golf is a leading manufacturer of high performance golf equipment with industry-leading innovative products like M5/M6 metalwoods, M5/M6 irons and TP5/TP5X golf balls. TaylorMade is the #1 Driver in Golf and also a major force on the PGA TOUR with one of the strongest athlete portfolios in golf, that includes Dustin Johnson, Rory McIlroy, Jason Day, Jon Rahm, Rickie Fowler and Tiger Woods.

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