Notes: June 28, 2023 Allarity Therapeutics, Inc. (NASDAQ: ALLR) (“Allarity” or the “Company”), a clinical-stage pharmaceutical company developing novel oncology therapeutics together with drug-specific DRP® companion diagnostics for personalized cancer care, today announced that it intends to effect a reverse stock split of its common stock at a ratio of 1 post-split share for every 40 pre-split shares. The reverse stock split will become effective at 4:05 p.m., New York time, on June 28, 2023 (the “Effective Time”). Allarity’s common stock will continue to be traded on the Nasdaq Capital Market under the symbol “ALLR” and will begin trading on a post-split adjusted basis when the market opens on Thursday, June 29, 2023. The CUSIP number for Allarity’s common stock following the reverse stock split will be 016744302.