AMPED Distribution, a division of Alliance Entertainment Holding Corporation (OTC: ADRA) (“Alliance Entertainment”, “Company”), a distributor and wholesaler of the world’s largest in stock selection of music, movies, video games, electronics, arcades, and collectibles, is proud to announce its tenth year in business on a strong and positive note. The company has achieved remarkable success in the music industry, with 26 nominations across their distributed labels for the 2023 Grammy™ Awards, resulting in seven impressive wins.

Jeff Walker, CEO of Alliance Entertainment, commented, “We are so proud of the success of our distributed artists at the Grammys as we continue to have their physical CD’s and Vinyl Records available and in stock for all retailers and internet websites to support their sales.”

AMPED’s distributed labels dominated the 2023 Grammy™ Awards, with veteran artist Bonnie Raitt (Redwing Records) receiving three well-deserved awards for the highly coveted “Song of the Year” along with the “Best Americana Performance”, and “Best Americana Roots Song” for her album “Just Like That…”. Latin icon Rueben Blades & Boca Livre (Rueben Blades Prods) also took home the Grammy for “Best Latin Pop Album” for “Pasieros”. Other notable wins include Aaron Neville & The Dirty Dozen Brass Band (Petaluma Records) for “Best American Roots Performance”, Wayne Shorter (Candid) for “Best Improvised Jazz Solo”, and Terri Lyne Carrington (Candid) for “Best Jazz Instrumental Album”.

In addition to their impressive wins at the 2023 Grammy™ Awards, AMPED distributed artists dominated the Billboard™ charts in 2022, holding the number one position for Top Album 11 times. Among these artists were Five Finger Death Punch, Yeah Yeah Yeahs, Alicia Keys, and more. AMPED distributed artists occupied the #1 position on various Billboard™ charts over 133 times throughout the year, a notable accomplishment for an independent distributor.

AMPED continues to be a driving force for vinyl and compact disc sales, outperforming the industry trends on both configurations. As many distributors have diminished their commitment to physical distribution in recent years, the resurgence of vinyl has created a need for efficient physical-forward market distribution. AMPED has refined their sales and marketing systems to enhance the digital efforts of many established labels, propelling sales across multiple formats.

About AMPED Distribution

AMPED is one of the fastest growing, top-tier independent distributors committed to developing and growing independent artists and labels worldwide. A part of Alliance Entertainment, AMPED gives the indie community access to a global distribution system with the largest sales force, a seasoned and skilled staff that provides a suite of services and data second to none. AMPED’s customer base is the largest in the industry directly servicing brick and click retailers large and small along with (DTC) direct consumers. AMPED’s growing roster of labels include labels such as Believe Digital, Better Noise, Big Loud, Cleopatra Records, Compass Records, Earache, Empire, Epitaph Records, Exceleration Music (Alligator Records, Bloodshot Records, Candid, Side One Dummy, Tangerine) Fuga, GoodToGo, Herp Alpert Presents, Hopeless Records, Integral (PIAS, Harmonia Mundi), Kai Media, Kartel, Lex Records, Mascot, Merge Records, MNRK (eOne, Dualtone), Nettwerk Music Group, Nuclear Blast, Polyvinyl, Proper Music Group, Reservoir Media (Chrysalis, Tommy Boy), Ruf Records, Secretly Music Group, Shanachie, Smithsonian Folkways, Soul Food, Sub Pop, Tuff Gong, Warner Classics and more.

About Alliance Entertainment

Alliance Entertainment is a premier distributor of music, movies, and consumer electronics. We offer 485,000 unique in stock SKU’s, including over 57,300 exclusive compact discs, vinyl LP records, DVDs, Blu-rays, and video games. Complementing our vast media catalog, we also stock a full array of related accessories, toys and collectibles. With more than thirty-five years of distribution experience, Alliance Entertainment serves customers of every size, providing a robust suite of services to resellers and retailers worldwide. Our efficient processing and essential seller tools noticeably reduce the costs associated with administrating multiple vendor relationships, while helping omni-channel retailers expand their product selection and fulfillment goals. For more information, visit www.aent.com.

Forward Looking Statements

Certain statements included in this press release that are not historical facts are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as "believe," "may," "will," "estimate," "continue," "anticipate," "intend," "expect," "should," "would," "plan," "predict," "potential," "seem," "seek," "future," "outlook," and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding estimates and forecasts of financial and performance metrics, projections of market opportunity, expectations and timing related to Alliance Entertainment’s business, customer growth and other business milestones.

These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of Alliance Entertainment’s management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by an investor as, a guarantee, an assurance, a prediction, or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of Alliance Entertainment.

These forward-looking statements are subject to a number of risks and uncertainties, including changes in domestic and foreign business, market, financial, political, and legal conditions; failure to realize the anticipated benefits of the merger; risks relating to the uncertainty of the projected financial information with respect to Alliance Entertainment; risks related to the music, video, gaming, and entertainment industry, including changes in entertainment delivery formats; global economic conditions; the effects of competition on Alliance Entertainment’s future business; risks related to fulfilment network; risks related to expansion and the strain on Alliance Entertainment’s management, operational, financial, and other resources; risks related to operating results and growth rate; risks related to Alliance Entertainment’s high levels of debt, including risks of covenant breaches; the business could be harmed by the amount of redemption requests paid to Adara’s public stockholders; and those factors discussed in Adara Acquisition Corp.’s definitive Proxy Statement on Form S-4 filed with the SEC on December 12, 2022 under the heading "Risk Factors," and Alliance Entertainment’s Current Report on Form 8-K filed on June 23, 2022 and other documents of and Alliance Entertainment filed, or to be filed, with the SEC.

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