Partnership announcement

Strong Technical Services and STRONG/MDI Screen Systems Formalize Partnership with Powersoft to Further Extend Immersive Audio/Visual Experiences

Strong Technical Services and STRONG/MDI Screen Systems Formalize Partnership with Powersoft to Further Extend Immersive Audio/Visual Experiences

Charlotte, N.C., August 24, 2023 – Strong Global Entertainment (NYSE American: SGE) (“Strong Global Entertainment” or the “Company”) announced today that its subsidiaries Strong Technical Services (“STS”) and STRONG/MDI Screen Systems (“STRONG/MDI”) have entered into a partnership with Powersoft, a leading provider of high-end technologies for the professional audio market. The partnership includes the resale, integration, and installation of Powersoft products, supported by STS, as well as the enhancement of STRONG/MDI’s Seismos Immersive Product line with the implementation of Powersoft’s Mover Direct Drive.

The product at the heart of the partnership is Powersoft's Mover Direct Drive. The Mover Direct Drive is a patented low-frequency transducer that has been designed to reproduce sound through haptic perception, which is the human body’s capability to feel low-end frequencies through bone conduction. This innovative technology brings a unique and immersive dimension to the audio experience, making it more tangible and participatory.

“Complete immersion is undoubtedly the next big thing in attractions, and we are happy to partner with Powersoft to lead the movement worldwide,” said François Barrette, Senior Vice President and General Manager of STRONG/MDI. “This combination of experience and reputation has already resulted in a revolutionary interactive flooring system, Seismos, that is now being deployed in different attractions around the world.”

“With visitor expectations at an all-time high, haptic feedback represents an exciting way of elevating the audience experience,” said Thomas Howie, New Business Development at Powersoft. “The Mover Direct Drive allows audiences to not just hear, but also feel a part of and participate in the audio experience. This is a significant advance in the realm of immersive entertainment.”

Blake Titman, Senior Vice President, and General Manager of STS commented, “Our presence at InfoComm 2023 generated great leads, and our team is pleased to partner with Powersoft to deliver immersive entertainment experiences.”

Tom Knesel, General Manager at Powersoft U.S., stated, "We're proud to team up with Strong Global Entertainment and its subsidiaries. Our shared vision is to provide unique technologies to enhance the overall customer experience in applications that involve tactile inertial shaking of floors. With the integration of the Mover Direct Drive and additional Powersoft products, we're confident that we can transform the way audiences connect with audio experiences, taking it to a new level of immersion and interaction."

Those looking for more information about Strong Technical Services can contact the sales team by phone at + 1 833-222-9986 or via email at sales@strong-tech.com.

Those looking for more information on product developed by STRONG/MDI can contact the sales team by phone at +1 450 755-3795 or via email at info@strongmdi.com.

About Strong Global Entertainment, Inc.

Strong Global Entertainment, Inc. is a leader in the entertainment industry, providing mission critical products and services to cinema exhibitors and entertainment venues for over 90 years. The Company manufactures and distributes premium large format projection screens, provides comprehensive managed services, technical support and related products and services primarily to cinema exhibitors, theme parks, educational institutions, and similar venues. In addition to traditional projection screens, the Company manufactures and distributes its Eclipse curvilinear screens, which are specially designed for theme parks, immersive exhibitions, as well as simulation applications. It also provides maintenance, repair, installation, network support services and other services to cinema operators, primarily in the United States. The Company also owns Strong Studios, Inc., which develops and produces original feature films and television series.

About Powersoft

Powersoft is an Italian company specializing in the design, production, and marketing of a wide range of professional high-end patented technologies for the professional audio market such as power amplifiers, loudspeaker components and software for use primarily in installed and live sound applications. Since 1995, Powersoft is constantly breaking new ground in terms of what is possible: it holds dozens of patents, has meaningful manufacturing partners around the world, and holds the keys to what will be possible in the next generation of audio. Powersoft has a global network of authorized distributors and certified technical service centers in more than 100 Countries. Fostering Made in Italy, production is undertaken in plants at Scandicci (Florence), Bologna, Cortona, and Gorizia. The subsidiary Powersoft Advanced Technologies Corp., located in Flanders, New Jersey, oversees marketing and technical assistance for the US market.

About FG Group Holdings Inc.

FG Group Holdings Inc. is a diversified holding company with operations and holdings across a broad range of industries. The Company has a majority ownership in Strong Global Entertainment, (NYSE American: SGE), which includes STRONG/MDI Screen Systems (www.strongmdi.com), the leading premium screen and projection coatings supplier in the world and Strong Technical Services (www.strong-tech.com), which provides comprehensive managed service offerings with 24/7/365 support nationwide to ensure solution uptime and availability. FG Group Holdings also holds equity stakes in GreenFirst Forest Products Inc., Firefly Systems, Inc., and FG Financial Group, Inc., as well as real estate in Georgia through its Digital Ignition operating business, as well as a manufacturing facility in Quebec, Canada.

About Fundamental Global®

Fundamental Global® is a private partnership focused on long-term strategic holdings. Fundamental Global® was co-founded by former T. Rowe Price, Point72 and Tiger Cub portfolio manager Kyle Cerminara and former Chairman and CEO of TD Ameritrade, Joe Moglia. Its current holdings include FG Financial Group Inc., FG Group Holdings Inc., BK Technologies Corp., GreenFirst Forest Products, Inc., FG Merger Corp., FG Acquisition Corp., OppFi Inc., Hagerty Inc., and FG Communities, Inc.

The FG® logo is a registered trademark of Fundamental Global®.

Forward Looking Statements

This press release contains “forward-looking statements” that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as “anticipate,” “believe,” “contemplate,” “could,” “estimate,” “expect,” “intend,” “seek,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “target,” “aim,” “should,” "will” “would,” or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on the Company’s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. These and other risks and uncertainties are described more fully in the section titled “Risk Factors” in the final prospectus related to the public offering filed with the SEC. Forward-looking statements contained in this announcement are made as of this date, and the Company undertakes no duty to update such information except as required under applicable law.