Allied Gaming & Entertainment Inc. Q1 FY2021 earnings call

• Frank Ng provided an overview of Q1 highlights amidst COVID-19, noting WPT is being sold to Element Partners and pending approval. • Tony Hung discussed progress in Q1: in-person pillar impacted by pandemic but recovery underway with increased foot traffic in Las Vegas and event bookings for second half, progress on multi-platform content pillar, and reduced operating expenses. Also mentioned WPT is treated as discontinued operations for accounting purposes.

For the first quarter of 2021, continuing operations had total revenues of $0.5 million, which is a 52.6% decrease year-over-year. All revenues were derived from the in-person pillar. Total costs and expenses for the first quarter were $5.4 million, a decrease of 42.9% from $9.4 million in the first quarter of 2020. In-person pillar costs and expenses decreased by 45.5% versus Q1 2020, selling and marketing expenses by 42%, and online operating expenses by 34.7%.

• Frank Ng mentioned looking forward to the 2021 second quarter in August. • Tony Hung noted recovery underway with increase in foot traffic in Vegas and event bookings for second half of the year.

• Impact of COVID-19 on in-person pillar due to travel restrictions, health and safety protocols, leading to postponed events, reduced operating hours, and social distancing measures.