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Federal District Court Issues Order Regarding Allied Gaming & Entertainment Combined 2024/2025 Annual Meeting of Stockholders to Take Place As Planned on August 4th, 2025

Court Enjoins Vote on All Director Nominees and Director Removal Proposal at Annual Meeting

Company Urges All Stockholders to Vote before August 3^rd at 11:59 PM ET

Company Encourages Stockholders to Vote 鈥淔OR鈥� The Company鈥檚 Proposals Today

NEW YORK--(BUSINESS WIRE)-- Allied Gaming & Entertainment, Inc. (NASDAQ: AGAE) (the 鈥淐ompany鈥� or 鈥淎llied鈥�), a global experiential entertainment company, announced that the United States District Court for the Central District of California issued an order today that the Combined 2024/2025 Annual Meeting of Stockholders (鈥淎nnual Meeting鈥�) not be postponed and enjoining Allied and Knighted Pastures LLC (鈥淜nighted鈥�) from conducting any vote regarding changes to the composition of Allied鈥檚 Board of Directors at the Annual Meeting. As such, the Annual Meeting will take place as planned on August 4, 2025, but no vote will be taken on any of the Company鈥檚 or Knighted鈥檚 director nominees or Knighted鈥檚 proposal to remove Mr. Yangyang Li from the board of directors. All other proposals will continue to be voted on at the Annual Meeting.

The Company encourages stockholders to vote their proxy card today 鈥淔OR鈥� the Company鈥檚 proposals. Stockholders may vote electronically or by telephone until 11:59 p.m. eastern time on August 3, 2025, and may also vote at the meeting.

About Allied Gaming & Entertainment

Allied Gaming & Entertainment Inc. (Nasdaq: AGAE) is a global experiential entertainment company focused on providing a growing world of gamers and concertgoers with unique experiences through renowned assets, products and services. For more information, visit .

Forward Looking Statements

This communication contains certain forward-looking statements under federal securities laws. In some cases, you can identify forward-looking statements by terminology such as 鈥渕ay,鈥� 鈥渨ill,鈥� 鈥渟hould,鈥� 鈥渆xpect,鈥� 鈥減lan,鈥� 鈥渁nticipate,鈥� 鈥渂elieve,鈥� 鈥渆stimate,鈥� 鈥減redict,鈥� 鈥減otential,鈥� 鈥渋ntend鈥� or 鈥渃ontinue,鈥� the negative of such terms, or other comparable terminology. These statements are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause actual results to be materially different from those contemplated by the forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside our control, that could cause actual results or outcomes to differ materially from those discussed in these forward-looking statements. The inclusion of such information should not be regarded as a representation by the Company, or any person, that the objectives of the Company will be achieved.

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Source: Allied Gaming & Entertainment, Inc.