Allied Esports Entertainment Inc. announced that Mr. Berman relinquished his position as President. Mr. Berman has served as a director of the Company since May 2017. In addition, effective February 18, 2022, the Company also appointed Yinghua Chen, the Company's Chief Investment Officer, as President and Secretary of the Board, as well.

Yinghua Chen has served as a Director of the Company since July 2020. With the newly assumed positions, she will take on a more active role in the Company's operational management in addition to M&A activities. On February 18, 2022, Jerry Lewin resigned as a Class C Director of the Company.

As such, the Board has appointed Yushi Guo to serve as a Class C Director on the Board effective February 18, 2022. Mr. Yushi Guo has broad experience in management consulting, board advisory and entrepreneurship. Mr. Guo currently serves as an independent non-executive director of Ourgame International Holdings Limited.