Ault Alliance Completes Final Distribution of TOG Securities

Ault Alliance, Inc. (NYSE American: AULT), a diversified holding company, (“Ault Alliance” or the “Company”), hereby announces that it has completed the final distribution (the “Final Distribution”) of the securities of TurnOnGreen, Inc., formerly Imperalis Holding Corp. (OTC: IMHC) (“TurnOnGreen”) that it held prior to the Final Distribution. In the Final Distribution, Ault Alliance stockholders received approximately 0.83 shares of TurnOnGreen common stock and warrants to purchase approximately 0.83 shares of TurnOnGreen common stock (the “TOG Securities”) for each share of common stock of the Company that they owned on the record date of April 15, 2024. The TOG Securities in the Final Distribution were distributed on April 29, 2024.

“Given the completion of the Final Distribution, Ault Alliance has fulfilled its previously announced commitment to distribute the TOG Securities to its stockholders. The 140 million shares of TurnOnGreen common stock distributed to the Company’s stockholders represents approximately 76% of the outstanding shares of TurnOnGreen. We believe this is a significant accomplishment, setting TurnOnGreen on a path to grow independently of the Company. We will continue to support TurnOnGreen in its application to list its common stock on a national securities exchange as soon as it meets the requisite listing criteria,” said Milton “Todd” Ault III, the Company’s Executive Chairman.

This press release is for informational purposes only and shall not constitute an offer to sell or exchange nor the solicitation of an offer to buy shares of the Company’s common stock or any other securities of the Company. The Final Distribution was not made to any person in any jurisdiction in which the offer, solicitation or sale is unlawful. Distribution of the TOG Securities was made only by means of the applicable registration statement, the prospectus included therein and a prospectus supplement.

For more information on Ault Alliance and its subsidiaries, Ault Alliance recommends that stockholders, investors, and any other interested parties read Ault Alliance’s public filings and press releases available under the Investor Relations section at https://www.ault.com/ or available at https://www.sec.gov/.

About Ault Alliance, Inc.

Ault Alliance, Inc. is a diversified holding company pursuing growth by acquiring undervalued businesses and disruptive technologies with a global impact. Through its wholly and majority-owned subsidiaries and strategic investments, Ault Alliance owns and operates a data center at which it mines Bitcoin and provides mission-critical products that support a diverse range of industries, including metaverse platform, oil exploration, crane services, defense/aerospace, industrial, automotive, medical/biopharma, consumer electronics, hotel operations and textiles. In addition, Ault Alliance extends credit to select entrepreneurial businesses through a licensed lending subsidiary. Ault Alliance’s headquarters are located at 11411 Southern Highlands Parkway, Suite 240, Las Vegas, NV 89141; www.Ault.com.