Allied Esports Entertainment Receives Notification from Nasdaq Related to Delayed Quarterly Report On Form 10-Q

May 23, 2022

Allied Esports Entertainment, Inc. (NASDAQ: AESE) (the “Company” or “AESE”), a global esports entertainment company, today filed a Current Report on Form 8-K with the Securities and Exchange Commission (the "SEC") announcing the Company's receipt of a letter from the Listing Qualification Department of Nasdaq on May 19, 2022 notifying the Company that because the Company has not yet filed its Form 10-Q for the period ended March 31, 2022, and because the Company remains delinquent in filing its Form 10-K for the period ended December 31, 2021, the Company no longer complies with Nasdaq’s Listing Rule 5250(c)(1), which rule requires companies with securities listed on Nasdaq to timely file all required periodic reports with the U.S. Securities and Exchange Commission. Pursuant to such notice, the Company will have until June 20, 2022 to submit a plan to Nasdaq to regain compliance. If the plan is accepted, Nasdaq can grant an exception of up to 180 days from the due date of the filing, or until October 12, 2022, to regain compliance.

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