Fluent, Inc.

Rule10b5-1 Trading Plans**

During the fiscal quarter ended* March 31, 2025*, none of the Company's directors or executive officers adopted or terminated any contract, instruction or written plan for the purchase or sale of Company securities that was intended to satisfy the affirmative defense conditions of Rule10b5-1(c) or any "non-Rule10b5-1 trading arrangement."

Securities Purchase Agreements

On* May 15, 2025,Fluent, Inc. (the “Company”) entered into securities purchase agreements (the “Purchase Agreements”) with certain officers and/or directors (collectively, the “Inside Investors”) and certain other existing stockholders of the Company, including the Company’s largest stockholder, institutional investors or others for whom they have or share beneficial ownership, (the “Stockholders” and together with the Inside Investors, the “Purchasers”), pursuant to which the Purchasers agreed to purchase (i) pre-funded warrants (the “Pre-Funded Warrants”) to purchase up to1,829,956* shares of common stock of the Company (the “Pre-Funded Warrant Shares”) and (ii) warrants (the “Common Stock Warrants” and together with the Pre-Funded Warrants, the “Warrants”) to purchase up to1,829,956 shares of common stock of the Company (the “Common Stock Warrant Shares” and together with the Pre-Funded Warrant Shares, the “Warrant Shares”). The Warrants and the Warrant Shares are hereinafter referred to as the* “May 2025Securities.” The Warrants were sold at a price of$2.1995* per Pre-Funded Warrant Share.

The Pre-Funded Warrants have an exercise price of*$0.0005* per Pre-Funded Warrant Share and will expire when exercised in full. The Common Stock Warrants have an exercise price of*$2.20* per Common Stock Warrant Share and will expirethree years from the date of issuance.

In connection with the offering, on* May 15, 2025,*the Company entered into Support Agreements with the Purchasers (the "Support Agreements"). Pursuant to the Support Agreements, the investors party thereto agreed to vote shares of the Company's common stock beneficially owned by them in favor of certain actions subject to Stockholder Approval (as defined in the Support Agreements) at any meeting of stockholders of the Company and to vote against or decline to consent to any proposal or any other corporate action or agreement that would result in a breach by the Company of the Purchase Agreements or impede, delay or otherwise adversely affect the consummation of the transactions contemplated by the Purchase Agreements or any similar agreements entered into by the Company and the party stockholders in connection with the consummation of the transactions contemplated by the Purchase Agreements.

The exercise of the Pre-Funded Warrants issued to the Inside Investors is subject to Stockholder Approval and, upon such approval, such Pre-Funded Warrants will be immediately exercisable and will terminate when exercised in full. The Company will be obligated to use its reasonable best efforts to obtain Stockholder Approval in accordance with the rules of the Nasdaq Stock Marketno later than the2026 annual meeting of shareholders of the Company (the “Stockholder Meeting Deadline”). If, despite the Company’s reasonable best efforts the Stockholder Approval isnot obtained on or prior to the Stockholder Meeting Deadline, the Company is required to cause an additional stockholder meeting to be held semi-annually thereafter until Stockholder Approval is obtained.

The representations, warranties and covenants contained in the Purchase Agreements were made solely for the benefit of the parties to the Purchase Agreements. In addition, such representations, warranties and covenants (i) are intended as a way of allocating the risk between the parties to the Purchase Agreements andnot as statements of fact, and (ii)* mayapply standards of materiality in a way that is different from what maybe viewed as material by stockholders of, or other investors in, the Company. Accordingly, the Purchase Agreements are included with this filing only to provide investors with information regarding the terms of the transaction, andnot* to provide investors with any other factual information regarding the Company. Moreover, information concerning the subject matter of the representations and warranties* maychange after the date of the Purchase Agreements, which subsequent information mayor may**not* be fully reflected in public disclosures.

The closing of the sales of the Warrants under the Purchase Agreements is anticipated to occur on or about* May 19, 2025,*subject to the satisfaction of customary closing conditions.

The gross proceeds from the offering are expected to be*$4.0* million. The Company intends to use the net proceeds from the offering, after deducting offering expenses payable by the Company, for working capital and general corporate purposes.

The* May 2025Securities will be sold pursuant to the exemption from the registration requirements of the Securities Act available under Section4*(a)(2).

The foregoing descriptions of the Purchase Agreements, the Pre-Funded Warrants, the Common Stock Warrants and the Support Agreements arenot complete and are qualified in their entirety by reference to the full text of the form of the Purchase Agreement, the Pre-Funded Warrant, the Common Stock Warrant and the Support Agreement, copies of which are filed as Exhibits10.6, 4.2, 4.3 and10.7, respectively, to this Quarterly Report on Form10-Q and are incorporated by reference herein.

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