B. Riley Financial (RILY) Issues Update on Quarterly Filing Process

B. Riley Financial, Inc. (NASDAQ: RILY) today announced it received an additional delinquency notification letter from Nasdaq on November 20, 2024, which indicated that the Company was not in compliance with Nasdaq Listing Rule 5250(c)(1) as a result of the delayed filing of the Company's Quarterly Reports on Form 10-Q for the periods ended June 30, 2024 and September 30, 2024. The Nasdaq Listing Rule requires listed companies to timely file all required periodic financial reports with the Securities and Exchange Commission (the "SEC"). This notification has no immediate effect on the listing of the Company's securities on Nasdaq.

Nasdaq has informed the Company that it must submit an update to its original plan to regain compliance with respect to the filing requirement by December 5, 2024. If the updated plan is accepted, Nasdaq can grant an exception of up to 180 calendar dates from the due date of the initial delinquent filing for the period ended June 30, 2024, or until February 17, 2025, to regain compliance.

The Company regrets the continued delays in its quarterly filings, which have been impacted by a confluence of significant events and transactions completed in 2024. The Company is working diligently to file the Quarterly Reports for both the second and third quarters as promptly as practical, and expects to return to a normal filing cadence in 2025.

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