Snail receives Nasdaq delisting notice; announces 1-for-5 reverse stock split to regain compliance

Snail, Inc.

• Nasdaq notified Snail of delisting due to failure to meet minimum bid price ($1.00) and continued listing standards (equity/market value/net income).
• Company intends to request a hearing before Nasdaq Hearings Panel to appeal the delisting determination.
• Board approved 1-for-5 reverse stock split effective July 2, 2026; trading on split-adjusted basis begins July 6, 2026.
• Reverse split reduces outstanding shares from ~44.2M to ~8.8M; no change to authorized shares or ownership percentages except fractional shares.
• Reverse split intended to help regain compliance with minimum bid price requirement, but no assurance of success.