Allied Gaming & Entertainment Inc. Q3 FY2023 earnings call

• Achieved positive net income in Q3, reflecting efforts to enhance operational efficiency and reduce expenses. • General and administrative expenses were reduced by over 50% in Q3. • AEI's HyperX Arena and Omen Mobile Arena hosted various events like Boxing Weekend Reception, Red Bull and Riot Games event, Hacker1, etc. • Rolled out new HP Omen PCs and monitors at the HyperX Arena. • In production on WANNABE Season 2, expected to release in spring. • AME's strategic investment in Zhihe strengthens presence in the mobile games market. • AEE is exploring co-organizing events in Macau. • Repurchased approximately $2.7 million of AGAE stock between November 2022 and the end of Q3.

In the third quarter, total revenues were $1.1 million, a 28% decrease from the prior year period. Our Allied Esports International (AEI) subsidiary held 79 event days in Q3, consisting of 44 proprietary event days and 35 third-party event days. Our Allied Mobile Entertainment (AME) subsidiary finalized a strategic investment in Beijing Lianzhong Zhihe Technology Co. on October 31, 2023, becoming the majority shareholder. Our Allied Experiential Entertainment (AEE) subsidiary is exploring opportunities to co-organize partner events in Macau. Revenue contribution: The main revenue source was impacted by the decrease in third-party in-person events at the HyperX Arena, while the investment in Zhihe and exploration in Macau are future growth areas.

• Expect robust revenue growth in 2024. • WANNABE Season 2 is planned to be released in spring. • Anticipate the investment in Zhihe will be immediately accretive to top and bottom line. • Will provide additional updates on progress when releasing fourth quarter and full year 2023 results in March.

• Actual results may differ materially from forward-looking statements due to factors in the company's public filings, including SEC risk factors. • Economic uncertainty led to a 28% decrease in Q3 revenues due to a decline in life events.