Allied Gaming & Entertainment Delays 2024 Stockholders’ Annual Meeting: A Strategic Shift Unveiled!

Allied Gaming & Entertainment Declares Postponement of its 2024 Annual Meeting of Stockholders

Allied Gaming & Entertainment, Inc. (NASDAQ: AGAE) (the “Firm” or “AGAE”), an international experiential entertainment firm, disclosed today the postponement of its 2024 Annual Meeting of Stockholders (“Annual Meeting”), which was set to occur on December 30, 2024, owing to the previously reported lawsuit initiated by Knighted Pastures LLC (“Knighted”) against the Firm that inhibits the Annual Meeting from proceeding before its conclusion. The Firm contends that the lawsuit represents yet another effort by Knighted and its Managing Partner, Roy Choi, to execute their strategy for seizing control of the Firm at a reduced valuation beneath the Firm’s cash worth to advance their own short-term goals, while undermining long-term value for all AGAE stockholders.

Consequently, due to this ongoing lawsuit and in line with the litigation timetable order, the Firm is required to postpone its previously planned Annual Meeting, along with all connected deadlines, until after the lawsuit reaches resolution. The Firm is currently unable to specify the precise date of the Annual Meeting. The Firm will inform stockholders as soon as it can establish the date for the Annual Meeting.

About Allied Gaming & Entertainment

Allied Gaming & Entertainment Inc. (Nasdaq: AGAE) is an international experiential entertainment company dedicated to offering a widening world of gamers and concert enthusiasts with exceptional experiences through distinguished assets, products, and services. For further details, visit alliedgaming.gg.

Forward-Looking Statements

This message includes certain forward-looking statements under federal securities statutes. In some situations, you can pinpoint forward-looking statements by terms like “may,” “will,” “should,” “expect,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “intend” or “continue,” the negation of these terms, or other similar terminology. These statements are subject to identifiable and unidentifiable risks, uncertainties, assumptions and other factors that may result in actual outcomes differing materially from those envisioned by the forward-looking statements. These forward-looking statements do not assure future performance, conditions or outcomes, and encompass various known and unknown risks, uncertainties, assumptions and other crucial factors, many of which are beyond our jurisdiction, that could cause actual results or achievements to deviate materially from those discussed in these forward-looking statements. The inclusion of such information should not be perceived as a representation by the Firm, or any individual, that the aims of the Firm will be accomplished.

Investor Contact:

Addo Investor Relations

ir@alliedgaming.gg

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