B. Riley Financial Receives Expected Nasdaq Delinquency Notice; Was Previously Granted Extensions To File Outstanding 10-Qs Through January 2026

• As previously disclosed, the Nasdaq Hearing Panel granted extended filing deadlines
• Second Quarter 10-Q and Third Quarter 10-Q filing deadlines are December 23, 2025 and January 20, 2026, respectively
• First Quarter 10-Q was filed on November 18, 2025, before the extended deadline

LOS ANGELES, Nov. 28, 2025 /PRNewswire/ -- B. Riley Financial, Inc. (NASDAQ:RILY) ("BRF" or the "Company"), a diversified holding company, today announced it received an expected delinquency notification letter from Nasdaq on November 21, 2025, pursuant to Nasdaq Listing Rule 5810(b). The letter indicated that the Company was not in compliance with Nasdaq Listing Rule 5250(c)(1) (the "Filing Rule") as a result of the delayed filing of the Company's Form 10-Q for the period ended September 30, 2025 (the "Third Quarter 10-Q").

The Nasdaq listing rules require 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.

As previously disclosed on November 19, 2025, the Company participated in a hearing with a Nasdaq Hearings Panel (the "Panel") on November 4, 2025 in connection with the Company's non-compliance with the Filing Rule, as previously notified by the Nasdaq Listing Qualifications Staff on April 3, 2025, May 21, 2025, and August 20, 2025.  Those notices were in connection with the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2024 (the "2024 10-K"), the Quarterly Report on Form 10-Q for the period ended March 31, 2025 (the "First Quarter 10-Q") and the Form 10-Q for the period ended June 30, 2025, respectively.

On November 18, 2025, the Panel granted the Company's request for an exception to the Filing Rule, which provides the Company with an exception to the Filing Rule through no later than January 20, 2026 to file the Third Quarter 10-Q with the SEC, among other terms and conditions disclosed on November 18, 2025.  Also on November 18, 2025, the Company filed the First Quarter 10-Q with the SEC.  Previously, on September 19, 2025, the Company filed the 2024 10-K with the SEC.

The Company intends to take all appropriate actions to regain compliance with the Nasdaq listing requirements and to maintain its listing on Nasdaq.