<SEC-DOCUMENT>0001539497-25-000241.txt : 20250131
<SEC-HEADER>0001539497-25-000241.hdr.sgml : 20250131
<ACCEPTANCE-DATETIME>20250131171021
ACCESSION NUMBER:		0001539497-25-000241
CONFORMED SUBMISSION TYPE:	PREC14A
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20250131
DATE AS OF CHANGE:		20250131

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DAKTRONICS INC /SD/
		CENTRAL INDEX KEY:			0000915779
		STANDARD INDUSTRIAL CLASSIFICATION:	MISCELLANEOUS MANUFACTURING INDUSTRIES [3990]
		ORGANIZATION NAME:           	04 Manufacturing
		IRS NUMBER:				460306862
		STATE OF INCORPORATION:			SD
		FISCAL YEAR END:			0426

	FILING VALUES:
		FORM TYPE:		PREC14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-38747
		FILM NUMBER:		25579380

	BUSINESS ADDRESS:	
		STREET 1:		PO BOX 5128
		STREET 2:		201 DAKTRONICS DRIVE
		CITY:			BROOKINGS
		STATE:			SD
		ZIP:			57006
		BUSINESS PHONE:		6056974000

	MAIL ADDRESS:	
		STREET 1:		P O BOX 5128
		CITY:			BROOKINGS
		STATE:			SD
		ZIP:			57006

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Alta Fox Opportunities Fund, LP
		CENTRAL INDEX KEY:			0001734916
		ORGANIZATION NAME:           	
		IRS NUMBER:				824336568
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		PREC14A

	BUSINESS ADDRESS:	
		STREET 1:		1751 RIVER RUN
		STREET 2:		SUITE 400
		CITY:			FORT WORTH
		STATE:			TX
		ZIP:			76107
		BUSINESS PHONE:		817-350-4230

	MAIL ADDRESS:	
		STREET 1:		1751 RIVER RUN
		STREET 2:		SUITE 400
		CITY:			FORT WORTH
		STATE:			TX
		ZIP:			76107
</SEC-HEADER>
<DOCUMENT>
<TYPE>PREC14A
<SEQUENCE>1
<FILENAME>n4695_x4-prec14a.htm
<DESCRIPTION>FORM PREC14A
<TEXT>
<HTML>
<HEAD>
<TITLE></TITLE>
</HEAD>
<BODY>


<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 12pt"><B>UNITED STATES</B></FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 12pt"><B>SECURITIES AND
EXCHANGE COMMISSION</B></FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>Washington,
D.C. 20549</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&thinsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 12pt"><B>SCHEDULE&thinsp;14A</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 10pt; font-weight: normal">(Rule
14a-101)</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&thinsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 11pt; font-weight: normal">INFORMATION
REQUIRED IN PROXY STATEMENT</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 11pt; font-weight: normal">SCHEDULE
14A INFORMATION</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&thinsp;</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 9pt; font-weight: normal">Proxy
Statement Pursuant to Section 14(a) of The Securities Exchange Act of 1934</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 9pt">&thinsp;</FONT></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 3pt 0 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-size: 9pt">Filed
by the Registrant &#9744;</FONT></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 3pt 0 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-size: 9pt">Filed
by a Party other than the Registrant &#9746;</FONT></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 3pt 0 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-size: 9pt">Check
the appropriate box:</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 9pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 2pt; width: 0.5in; padding-bottom: 2pt">&thinsp;</TD>
    <TD STYLE="padding-top: 2pt; width: 0.5in; padding-bottom: 2pt">&#9746;</TD>
    <TD STYLE="padding-top: 2pt; text-align: left; padding-bottom: 2pt">Preliminary Proxy Statement</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 2pt; padding-bottom: 2pt">&thinsp;</TD>
    <TD STYLE="padding-top: 2pt; padding-bottom: 2pt">&#9744;</TD>
    <TD STYLE="padding-top: 2pt; text-align: left; padding-bottom: 2pt">Confidential, for Use of the Commission Only (as permitted by Rule&thinsp;14a&#45;6(e)(2))</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 2pt; padding-bottom: 2pt">&thinsp;</TD>
    <TD STYLE="padding-top: 2pt; padding-bottom: 2pt">&#9744;</TD>
    <TD STYLE="padding-top: 2pt; text-align: left; padding-bottom: 2pt">Definitive Proxy Statement</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 2pt; padding-bottom: 2pt">&thinsp;</TD>
    <TD STYLE="padding-top: 2pt; padding-bottom: 2pt">&#9744;</TD>
    <TD STYLE="padding-top: 2pt; text-align: left; padding-bottom: 2pt">Definitive Additional Materials</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-top: 2pt; padding-bottom: 2pt">&thinsp;</TD>
    <TD STYLE="padding-top: 2pt; padding-bottom: 2pt">&#9744;</TD>
    <TD STYLE="padding-top: 2pt; text-align: left; padding-bottom: 2pt">Soliciting Material Under Rule 14a-12</TD></TR>
  </TABLE>


<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 3pt 0 0; text-align: justify; text-indent: 0.5in">&thinsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0 0; text-align: center"><FONT STYLE="font-size: 11pt">DAKTRONICS, INC.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 11pt">(Name of Registrant
as Specified in Its Charter)</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 11pt">&thinsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 11pt">ALTA FOX OPPORTUNITIES
FUND, LP<BR>
&#9;ALTA FOX GENPAR, LP<BR>
ALTA FOX EQUITY, LLC<BR>
&#9;ALTA FOX CAPITAL MANAGEMENT, LLC</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 11pt">P. CONNOR HALEY</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&thinsp;</P><!-- Field: Rule-Page --><DIV STYLE="margin: 0pt auto; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&thinsp;</DIV></DIV><!-- Field: /Rule-Page -->


<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 9pt">(Name of Person(s) Filing
Proxy Statement, if other than the Registrant)</FONT></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 3pt 0 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-size: 9pt">Payment
of Filing Fee (Check the appropriate box):</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 9pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 0.5in">&nbsp;</TD>
    <TD STYLE="padding-top: 3pt; text-align: left; padding-bottom: 3pt; width: 0.5in"><FONT STYLE="font-size: 9pt">&#9746;</FONT></TD>
    <TD STYLE="padding-top: 3pt; text-align: left; padding-bottom: 3pt"><FONT STYLE="font-size: 9pt">No fee required.</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-top: 3pt; text-align: left; padding-bottom: 3pt"><FONT STYLE="font-size: 9pt">&#9744;</FONT></TD>
    <TD STYLE="padding-top: 3pt; text-align: left; padding-bottom: 3pt"><FONT STYLE="font-size: 9pt">Fee paid previously with preliminary materials.</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="padding-top: 3pt; text-align: left; padding-bottom: 3pt"><FONT STYLE="font-size: 9pt">&#9744;</FONT></TD>
    <TD STYLE="padding-top: 3pt; text-align: left; padding-bottom: 3pt"><FONT STYLE="font-size: 9pt">Fee computed in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11.</FONT></TD></TR>
  </TABLE>

<P>&thinsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in">&thinsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in"></P>





<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; color: red"><B>PRELIMINARY PROXY MATERIALS - SUBJECT
TO COMPLETION </B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center"><B>ALTA FOX OPPORTUNITIES FUND, LP</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: right; text-indent: 0.5in">[&#9679;], 2025</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Dear Fellow Daktronics Shareholders:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in">The attached proxy statement
and enclosed <B>BLUE</B> proxy card are being furnished to you, as a shareholder of Daktronics, Inc., a South Dakota corporation (&#8220;<U>Daktronics</U>&#8221;
or the &#8220;<U>Company</U>&#8221;), in connection with the solicitation of proxies by Alta Fox Opportunities Fund, LP, a Delaware limited
partnership, together with the other participants in this solicitation (collectively, &#8220;<U>Alta Fox</U>&#8221;, &#8220;<U>our</U>&#8221;,
&#8220;<U>us</U>&#8221; or &#8220;<U>we</U>&#8221;) to vote &#8220;<B><U>AGAINST</U></B>&#8221; the Company&#8217;s proposals related
to the reincorporation of the Company from the State of South Dakota to the State of Delaware (the &#8220;<U>Reincorporation</U>&#8221;)
at a special meeting of shareholders to be held at Daktronics, Inc., 201 Daktronics Drive, Brookings, South Dakota 57006 on _______, 2025,
at 4:30 p.m., Central Daylight Time (including any adjournments or postponements thereof, the &#8220;<U>Special Meeting</U>&#8221;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
discussed in detail in the proxy statement, Alta Fox is the Company&rsquo;s largest shareholder, beneficially owning approximately 11.7%
of the outstanding shares of </FONT>Common Stock, no par value (the &ldquo;<U>Common Stock</U>&rdquo;). We are opposed to the Reincorporation
and believe that that the Company should remain incorporated in South Dakota. In our view, the sole purpose of the Reincorporation is
to reduce the rights not just of Alta Fox, but all shareholders. The minor governance improvements included in the Special Meeting agenda
(proxy access and majority voting) can both be implemented without the Reincorporation. Meanwhile, the Company is proposing to eliminate
cumulative voting, a bedrock of South Dakota corporate law that protects minority shareholders. As the Company has all but admitted, it
is proposing to depart from the state where it has been incorporated for almost six decades primarily to evade such shareholder protections.
We also note that the Company had the opportunity to put forth a proposal to declassify its Board of Directors, but chose not to. Accordingly,
our view is that the Special Meeting is held primarily to curtail rights that Daktronics&rsquo; shareholders have enjoyed for many years.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in">We urge you to carefully
consider the information contained in the attached Proxy Statement and then support our efforts by voting using the instructions on the
enclosed <B>BLUE</B> proxy card today.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in">If you have already voted
for Daktronics&#8217; proposals relating to the Reincorporation, you have every right to change your vote by signing, dating and returning
a later dated <B>BLUE</B> proxy card or by voting at the Special Meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in">If you have any questions
or require any assistance with your vote, please contact Okapi Partners LLC, which is assisting us, at its address and toll-free number
listed on the following page.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; margin-top: 12pt; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: justify; padding-left: 0pt; text-indent: 0pt; width: 50%">&thinsp;</TD>
  <TD STYLE="text-align: justify; padding-left: 0pt; text-indent: 0pt; width: 50%">Thank you for your support,</TD></TR>
</TABLE>


<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; margin-top: 12pt; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: left; padding-left: 0pt; text-indent: 0pt; width: 50%">&thinsp;</TD>
  <TD STYLE="text-align: left; padding-left: 0pt; text-indent: 0pt; width: 50%">/s/ Connor Haley</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in; text-align: left; text-indent: 0in">&thinsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: left; padding-left: 0pt; text-indent: 0pt; width: 50%">&thinsp;</TD>
  <TD STYLE="text-align: left; padding-left: 0pt; text-indent: 0pt; width: 50%"><B>Alta Fox Opportunities Fund, LP</B></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">&thinsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">&thinsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">&thinsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">&thinsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">&thinsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">&thinsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">&thinsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">&thinsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">&thinsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in">&thinsp;</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>If
you have any questions, require assistance in voting your </I></FONT><I><FONT STYLE="font-size: 10pt"><B>BLUE</B> proxy card, or need
additional copies of Alta Fox&#8217;s proxy materials, please contact Okapi Partners at the phone numbers or email address listed below:</FONT></I></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&thinsp;</FONT></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&thinsp;</FONT></P>



<P STYLE="text-align: center; font: 8pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT><IMG SRC="okapipartnerslogo.jpg" ALT=""></P>

<P STYLE="text-align: center; font: 8pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&thinsp;</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">Okapi Partners
LLC</FONT></P>

<P STYLE="text-align: center; font: 8pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">1212 Avenue of the Americas, 24th Floor</FONT></P>

<P STYLE="text-align: center; font: 8pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">New York, New York 10036</FONT></P>

<P STYLE="text-align: center; font: 8pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&thinsp;</FONT></P>

<P STYLE="text-align: center; font: 8pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"></FONT></P>

<P STYLE="text-align: center; font: 8pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">Shareholders may call toll-free: (877) 629-6356</FONT></P>

<P STYLE="text-align: center; font: 8pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">Banks and
brokers call: (212) 297-0720</FONT></P>

<P STYLE="text-align: center; font: 8pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">E-mail: info@okapipartners.com</FONT></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&thinsp;</FONT></P>

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<P STYLE="font: 8pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&thinsp;</FONT></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0pt; text-align: center"><B>SPECIAL MEETING OF SHAREHOLDERS<BR>
OF<BR>
DAKTRONICS, INC.</B></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0pt; text-align: center"><B>PROXY STATEMENT<BR>
OF<BR>
ALTA FOX OPPORTUNITIES FUND, LP</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0pt; text-align: center"><B>PLEASE SIGN, DATE AND
MAIL THE ENCLOSED&thinsp;<U>BLUE</U> PROXY CARD TODAY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Alta
Fox Opportunities Fund, LP, a Delaware limited partnership (&#8220;<U>Alta Fox Opportunities</U>&#8221;), and the other participants in
this solicitation (collectively, &#8220;<U>Alta Fox</U>&#8221;, &#8220;<U>we</U>&#8221;, &#8220;<U>us</U>&#8221; or &#8220;<U>our</U>&#8221;)
beneficially own an aggregate of 5,933,019 shares, or approximately 11.7% of the outstanding shares of </FONT>Common Stock, no par value
(the &#8220;<U>Common Stock</U>&#8221;), of Daktronics, Inc., a South Dakota corporation (&#8220;<U>Daktronics</U>&#8221; or the &#8220;<U>Company</U>&#8221;),
making us the largest shareholder of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in">We are writing to you in
connection with the Company&#8217;s proposed reincorporation from the State of South Dakota to the State of Delaware (the &#8220;<U>Reincorporation</U>&#8221;).
The Company&#8217;s Board of Directors (the &#8220;<U>Board</U>&#8221;) has scheduled a special meeting for the purposes of considering
certain proposals relating to the Reincorporation (including any and all adjournments, postponements, continuations or reschedulings thereof,
or any other meeting of shareholders held in lieu thereof, the &#8220;<U>Special Meeting</U>&#8221;). The Special Meeting is scheduled
to be held at Daktronics, Inc., 201 Daktronics Drive, Brookings, South Dakota 57006 on _______, 2025, at 4:30 p.m. This Proxy Statement
and <B>BLUE</B> proxy card are first being mailed to the Company&#8217;s shareholders on or about ____________, 2025.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in">As set forth fully in this
Proxy Statement, we are soliciting proxies from Daktronics&#8217; shareholders in respect of the following proposal to be considered at
the Special Meeting, each as described in greater detail in the proxy statement filed by Daktronics (the &#8220;<U>Company Proxy Statement</U>&#8221;)
with the U.S. Securities and Exchange Commission (the &#8220;<U>SEC</U>&#8221;):</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.</FONT></TD><TD STYLE="text-align: justify">The Company&#8217;s proposal to approve the reincorporation of the Company from the State of South Dakota
to the State of Delaware pursuant to a plan of conversion (the &#8220;<U>Reincorporation Proposal</U>&#8221;); and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.</FONT></TD><TD STYLE="text-align: justify">The Company&#8217;s proposal to approve an adjournment of the meeting, if necessary, to solicit additional
proxies if there are not sufficient votes of the Reincorporation Proposal (the &#8220;<U>Adjournment Proposal</U>&#8221;).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: 0in">&thinsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">We refer to the Reincorporation
Proposal and the Adjournment Proposal each as a &#8220;<U>Proposal</U>&#8221; and collectively as the &#8220;<U>Proposals</U>.&#8221;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&thinsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">We oppose the Reincorporation
and urge Daktronics&#8217; shareholders to vote &#8220;<B><U>AGAINST</U></B>&#8221; the Reincorporation Proposal and &#8220;<B><U>AGAINST</U></B>&#8221;
the Adjournment Proposal because we believe that the Proposals are not in the best interests of shareholders. Please refer to the information
set forth under the heading &#8220;Reasons for the Solicitation&#8221; for a more detailed explanation of our rationale for opposing the
Reincorporation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&thinsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The Company has set the
close of business on _____________, 2025 as the record date for determining the shareholders entitled to vote at the Special Meeting (the
&#8220;<U>Record Date</U>&#8221;). The principal executive offices of the Company are located at 201 Daktronics Drive, Brookings, South
Dakota 57006. Shareholders of record at</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">the close of business on the Record Date will
be entitled to vote at the Special Meeting. According to the Company Proxy Statement, as of the close of business on the Record Date,
there were ____________ shares of Common Stock issued and outstanding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
of the close of business on the Record Date, Alta Fox beneficially owned [&#9679;] shares of Common Stock. We intend to vote our shares
of Common Stock &#8220;<B><U>AGAINST</U></B>&#8221; the Proposals.&thinsp;ALTA FOX URGES YOU TO SIGN, DATE AND RETURN THE </FONT><B>BLUE</B>
<FONT STYLE="font-size: 10pt">PROXY CARD VOTING &#8220;<B><U>AGAINST</U></B>&#8221; THE PROPOSALS.&thinsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">THIS
SOLICITATION IS BEING MADE BY ALTA FOX AND NOT ON BEHALF OF THE BOARD OR MANAGEMENT OF THE COMPANY. WE ARE NOT AWARE OF ANY OTHER MATTERS
TO BE BROUGHT BEFORE THE SPECIAL MEETING OTHER THAN AS SET FORTH IN THIS PROXY STATEMENT. SHOULD OTHER MATTERS, WHICH ALTA FOX IS NOT
AWARE OF A REASONABLE TIME BEFORE THIS SOLICITATION, BE BROUGHT BEFORE THE SPECIAL MEETING, THE PERSONS NAMED AS PROXIES IN THE ENCLOSED&thinsp;</FONT><B>BLUE</B><FONT STYLE="font-size: 10pt">&thinsp;PROXY
CARD WILL VOTE ON SUCH MATTERS IN THEIR DISCRETION.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">IF
YOU HAVE ALREADY SENT A PROXY CARD FURNISHED BY COMPANY MANAGEMENT OR THE BOARD, YOU MAY REVOKE THAT PROXY AND VOTE ON EACH OF THE PROPOSALS
DESCRIBED IN THIS PROXY STATEMENT BY VOTING THE ENCLOSED&thinsp;</FONT><B>BLUE</B> <FONT STYLE="font-size: 10pt">PROXY CARD. THE LATEST
DATED PROXY IS THE ONLY ONE THAT COUNTS. ANY PROXY MAY BE REVOKED AT ANY TIME PRIOR TO THE SPECIAL MEETING BY DELIVERING A WRITTEN NOTICE
OF REVOCATION OR A LATER DATED PROXY FOR THE SPECIAL MEETING OR BY VOTING IN PERSON AT THE SPECIAL MEETING.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Important Notice Regarding the Availability
of Proxy Materials for the Special Meeting:</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>This Proxy Statement and our <U>BLUE</U> proxy
card are available at:</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><BR>
FixDaktronics.com</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&thinsp;</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&thinsp;</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&thinsp;</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&thinsp;</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&thinsp;</B></P>


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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center"><B>IMPORTANT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Your
vote is important, no matter how many or how few shares of Common Stock you own. Alta Fox urges you to vote &#8220;<U>AGAINST</U>&#8221;
each of the Proposals by following the instructions on the enclosed </B></FONT><B><U>BLUE</U> proxy card.</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">If your shares of Common Stock are registered in your own name, please vote (i) through the Internet at
any time prior to __________ on __________, 2025 by following the instructions on the enclosed <B>BLUE</B> proxy card; (ii) by telephone
from the United States, by calling (877) 629-6356 at any time prior to __________ on __________, 2025; or (iii) by signing and dating
the enclosed <B>BLUE</B> proxy card and returning it to Alta Fox, c/o Okapi Partners LLC (&#8220;<U>Okapi</U>&#8221;), in the enclosed
postage-paid envelope today.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">If your shares of Common Stock are held in a brokerage account or bank, you are considered the beneficial
owner of the shares of Common Stock, and these proxy materials, together with a voting form, are being forwarded to you by your broker
or bank. As a beneficial owner, you must instruct your broker, trustee or other representative how to vote. Your broker cannot vote your
shares of Common Stock on your behalf without your instructions.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">Depending upon your broker or custodian, you may be able to vote either by toll-free telephone or by the
internet. Please refer to the enclosed voting form for instructions on how to vote electronically. You may also vote by signing, dating
and returning the enclosed voting form.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">You may vote Common Stock at the Special Meeting. However, even if you plan to attend the Special Meeting,
we recommend that you submit your <B>BLUE</B> proxy card by the applicable deadline so that your vote will be counted if you later decide
not to attend the Special Meeting</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in">&thinsp;</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>If
you have any questions, require assistance in voting your </I></FONT><I><FONT STYLE="font-size: 10pt"><B>BLUE</B> proxy card, or need
additional copies of Alta Fox&#8217;s proxy materials, please contact Okapi Partners at the phone numbers or email address listed below:</FONT></I></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&thinsp;</FONT></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&thinsp;</FONT></P>



<P STYLE="text-align: center; font: 8pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT><IMG SRC="okapipartnerslogo.jpg" ALT=""></P>

<P STYLE="text-align: center; font: 8pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&thinsp;</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">Okapi Partners
LLC</FONT></P>

<P STYLE="text-align: center; font: 8pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">1212 Avenue of the Americas, 24th Floor</FONT></P>

<P STYLE="text-align: center; font: 8pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">New York, New York 10036</FONT></P>

<P STYLE="text-align: center; font: 8pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&thinsp;</FONT></P>

<P STYLE="text-align: center; font: 8pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"></FONT></P>

<P STYLE="text-align: center; font: 8pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">Shareholders may call toll-free: (877) 629-6356</FONT></P>

<P STYLE="text-align: center; font: 8pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">Banks and
brokers call: (212) 297-0720</FONT></P>

<P STYLE="text-align: center; font: 8pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">E-mail: info@okapipartners.com</FONT></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&thinsp;</FONT></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&thinsp;</FONT></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&thinsp;</FONT></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt">&thinsp;</FONT></P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-size: 10pt"></FONT></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center"><B>BACKGROUND OF THE SOLICITATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0in">The following is a chronology
of relevant events leading up to this proxy solicitation:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">Alta Fox has been an investor in the Company since July 2022.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">On September 26, 2024, Mr. Haley flew to the Company&#8217;s headquarters to meet with Chief Executive
Officer, Mr. Reece Kurtenbach and Chief Financial Officer, Ms. Sheila Anderson, to discuss operational improvements and financial discipline
required for Daktronics&#8217; growth. Mr. Haley also offered to increase its investment in the Company should it need additional capital.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">On December 7, 2022, Daktronics filed a Current Report on Form 8-K with the SEC, disclosing that their
auditors issued &#8220;doubt about their ability to operate as a going concern&#8221; (the &#8220;<U>Going Concern Notice</U>&#8221;).</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">On January 26, 2023, Alta Fox filed its Schedule 13D with the SEC disclosing an ownership position of
5.9%, making Alta Fox the company&#8217;s largest individual shareholder.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">On March 21, 2023, Alta Fox filed Amendment No. 1 to the Schedule 13D with the SEC disclosing a 6.0% ownership
position. Pursuant to Amendment No. 1 to the Schedule 13D, Alta Fox disclosed that on March 19, 2023, Alta Fox and the Company entered
into a Standstill and Voting Agreement, in connection with ongoing negotiations between the Company and Alta Fox regarding a potential
financing transaction.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">On May 11, 2023, Alta Fox Opportunities and the Company entered into a Securities Purchase Agreement (the
&#8220;<U>Securities Purchase Agreement</U>&#8221;) under which the Company agreed to sell and issue to Alta Fox its senior secured convertible
notes (the &#8220;<U>Convertible Notes</U>&#8221;) in exchange for the payment by Alta Fox to the Company of $25 million. On May 11, 2023
(the &#8220;<U>Issuance Date</U>&#8221;), the Company issued the Convertible Notes to Alta Fox Opportunities in the total original principal
amount of $25 million. The Convertible Notes are convertible into shares of Common Stock, subject to certain conditions and limitations.
The Convertible Notes provide a conversion right which allows Alta Fox Opportunities, at any time after the Issuance Date, to convert
all or any portion of the principal amount of the Convertible Notes, together with any accrued and unpaid interest and any other unpaid
amounts, including late charges, if any (together, the &#8220;<U>Conversion Amount</U>&#8221;), into shares at an initial conversion price
of $6.31 per share, subject to adjustment in accordance with the terms of the Convertible Notes (the &#8220;<U>Conversion Price</U>&#8221;).
The Company also has a forced conversion right, which is exercisable on the occurrence of certain conditions set out in the Convertible
Notes, pursuant to which it can cause all or any portion of the outstanding and unpaid Conversion Amount to be converted into shares at
the Conversion Price. The Company shall not issue any shares pursuant to the terms of the Convertible Notes, and the holders of the Convertible
Notes shall not have the right to any shares otherwise issuable under their respective Convertible Notes to the extent that, after giving
effect to such issuance, a holder together with certain &#8220;<U>Attribution Parties</U>&#8221; (as defined in the Convertible Notes),
collectively would beneficially own in excess of 9.99% (which percentage can be increased or decreased from time to time to a percentage
not in excess of 19.99%, effective as of the sixty-first (61st) day after delivery of written notice of such increase or decrease to the
Company) of the number of Shares outstanding immediately after giving effect to such issuance (the &#8220;<U>Beneficial Ownership Limitation</U>&#8221;).</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">Also on May 11, 2023, Daktronics&#8217; Chief Executive Officer commented on the new capital provided
by Alta Fox, stating, &#8220;[w]e . . . appreciate that Alta Fox has demonstrated its confidence in Daktronics&#8217; path</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&thinsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&thinsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0 0.25in; text-align: justify">forward by committing additional capital
to the Company. Alta Fox has been a collaborative partner and we thank them for their support.&#8221;<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">On May 15, 2023, Alta Fox filed Amendment No. 2 to the Schedule 13D with the SEC, disclosing a 9.99% ownership
position and that they had entered into the Securities Purchase Agreement and the Convertible Notes described above.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">On June 9, 2023, Alta Fox filed Amendment No. 3 to the Schedule 13D with the SEC, disclosing a 4.99% ownership
position and that in accordance with the Convertible Notes, Alta Fox elected to decrease the Beneficial Ownership Limitation to 4.99%.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">On June 5, 2024, Alta Fox sent a private letter to the Board&#8217;s Lead Independent Director, outlining
governance concerns with the Company, the need for a new Chief Financial Officer and the need for shareholder-appointed Board members.
The Board failed to respond.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">On September 5, 2024, Alta Fox again sent a private letter &#8211; this time to the entire Board &#8211;
outlining governance and managerial concerns with the Company. The Board did not provide any substantive feedback but agreed that Board
members Mr. Kurtenbach and Mr. Siegel would meet with representatives of Alta Fox.</TD></TR>
                                                                                            </TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">On September 26, 2024, counsel for Alta Fox discussed with counsel for Daktronics various ideas for promptly
resolving the parties&rsquo; disagreements. Topics included governance improvements, capital allocation commitments, share buybacks and
Board refreshment.</TD></TR></TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">On October 21, 2024, Alta Fox Opportunities delivered a notice to the Company decreasing the Beneficial
Ownership Limitation to 3.0%.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">On November 8, 2024, Daktronics issued a press release announcing a plan to begin forcibly converting
the Convertible Note as of November 11, 2024.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">On November 11, 2024, counsel for Alta Fox requested a written questionnaire required for valid shareholder
nominations at a special meeting in order to prepare a potential request for a special meeting of shareholders.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">Also on November 11, 2024, Daktronics delivered a purported notice of forced conversion to Alta Fox Opportunities
(the &#8220;<U>Purported Conversion Notice</U>&#8221;). The Purported Conversion Notice stated that the Conversion Amount was $7 million,
to purportedly be converted into 1,109,350 shares, with a purported conversion date of December 3, 2024. Alta Fox disputed the effectiveness
of the Purported Conversion Notice and reserves all rights regarding the same. Daktronics informed Alta Fox Opportunities that its purported
forced conversion of the Convertible Note will not result in the issuance of common shares to Alta Fox Opportunities until after Alta
Fox Opportunities certifies it owns less than the Beneficial Ownership Limitation.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">On November 20, 2024, the Company filed a Current Report on Form 8-K with the SEC that the Board approved
the Second Amendment to Rights Agreement, dated as of November 19, 2024, by and between</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&thinsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>



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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0 0.25in; text-align: justify">the Company and Equiniti Trust Company,
LLC, (the &#8220;<U>Poison Pill Renewal</U>&#8221;). In connection with the Poison Pill Renewal, the Company specifically named Alta Fox
in its Press Release as a reason why the Poison Pill Renewal was entered into, &#8220;the Board considered the risk that Alta Fox, by
virtue of its significant ownership position,&#8221; which the Company indicated was feasible given the important shareholder right of
cumulative voting under South Dakota Law, &#8220;Because Daktronics&#8217; Articles of Incorporation and South Dakota law mandate cumulative
voting in the election of directors, a shareholder who also owns debt, like Alta Fox&#8230; may be able to make Board composition changes
even without broad shareholder support.&#8221;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">Also on November 20, 2024, upon filing the Poison Pill Renewal, the Company&#8217;s Common Stock price
fell by over 5%.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">On November 22, 2024, Alta Fox submitted a demand to inspect the Company&#8217;s Books and Records pursuant
to South Dakota Business Corporation Act &sect; 47-1A-1602, the purpose of which was to gather information regarding misjudgment and/or
malfeasance by the Board and potential breaches of fiduciary duties by certain members of the Board in connection with the Going Concern
Notice and the Poison Pill Renewal, as well as other concerning actions taken by the Company, its executive officers and the Board.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">On November 25, 2024, Alta Fox Opportunities delivered a notice to Daktronics
increasing the Beneficial Ownership Limitation to 14.99%, which increase will not be effective until the sixty-first (61st) day after
the delivery of the notice on November 25, 2024. Thereafter, on December 11, 2024 and January 10, 2025, Daktronics delivered additional
purposed notices of forced conversion to Alta Fox Opportunities, each of which stated that the Conversion Amount was $7 million, to purportedly
be converted into 1,109,350 shares, with conversion dates of January 3, 2025 and February 3, 2025, respectively.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">On December 2, 2024, Alta Fox filed a Schedule 13D with the SEC disclosing an ownership position of 11.7%.
Pursuant to the Schedule 13D, Alta Fox disclosed the Purported Conversion Notice.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">On December 10, 2024, Alta Fox released an investor presentation (the &#8220;<U>Investor Presentation</U>&#8221;)
at the Bloomberg Activism Forum, highlighting measures that Alta Fox believes are necessary to unlock shareholder value and renew accountability
to the Company&#8217;s shareholders. In conjunction with the Investor Presentation, Alta Fox also issued a press release announcing the
Investor Presentation. The Investor Presentation recommended several proposals to fix the Board and management including proposals: (1)
nominate independent Board members; (2) declassify the Board; (3) split the CEO and Chairman roles and (4) remove the &ldquo;poison pill&rdquo; Rights Agreement.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">Also on December 10, 2024, on information and belief, the Company interpreted the Investor Presentation
as a threat to the Board &#8211; rather than constructive proposals to improve the Company &#8211; Daktronics issued a press release characterizing
the Investor Presentation as an intimidation tactic.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">On December 11, 2024, Alta Fox filed a press release correcting the record on what it believed were misleading
statements made by the Company, explaining that &#8220;[a]s a shareholder, [Alta Fox] ha[s] an unassailable right to put up directors
for election at an annual meeting and to call a special meeting of shareholders. The Company&#8217;s claim in its December 11th press
release that [Alta Fox] tried to &#8216;intimidate&#8217; the Board by stating [its] intention to nominate highly qualified, independent
director candidates is not only</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&thinsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0 0.25in; text-align: justify">delusional, but also speaks to the Board&#8217;s
extreme level of entrenchment and the insular culture it has perpetuated.&#8221;<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">Also on December 11, 2024, Alta Fox filed Amendment No. 1 to the Schedule 13D disclosing the Investor
Presentation and related press release.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">On December 17, 2024, Breach Inlet Capital, LP, urged Daktronics to &#8220;immediately stop fighting
                                                                with DAKT&#8217;s shareholders,&#8221; and to stop &#8220;wasting shareholder capital in a public feud with its largest
                                                                investor,&#8221; Alta Fox, whom Breach Inlet Capital, LP characterized as &#8220;the firm that potentially saved [Daktronics] from
                                                                bankruptcy.&#8221;<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">On January 12, 2025, advisors to the Company reached out to advisors to Alta Fox and threatened that if a negotiated resolution could not be reached promptly, the Company would remove cumulative voting.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">On January 16, 2025, counsel for Alta Fox and Daktronics discussed the non-binding term sheet, pursuant
to which, counsel for Daktronics sent a revised term sheet reflecting discussions.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify"><P STYLE="margin: 0; font: 10pt Times New Roman, Times, Serif">Also on January 16, 2025, the Board approved the Reincorporation.</P></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">On January 18, 2025, counsel for Alta Fox sent Daktronics&#8217; counsel a revised non-binding term
sheet.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">On January 21, 2025, the Company filed its preliminary proxy statement with the SEC.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">On January 22, 2025, counsel for Alta Fox sent a revised non-binding term sheet to Daktronics&#8217; counsel
for review.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">On January 24 2025, counsel for Daktronics&#8217; sent Alta Fox&#8217;s counsel a revised non-binding
term sheet, which was unacceptable to Alta Fox.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">On January 27, 2025, Anchor Capital Advisors,
LLC filed a press release, indicating that they are in favor of governance reforms and against the Reincorporation.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">On January 31, 2025, Alta Fox filed this preliminary proxy statement with the SEC.</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&thinsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&thinsp;</P>


<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center"><B>&thinsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 0in"><B>&thinsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>REASONS
</B></FONT><B>FOR THE SOLICITATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0in"><B>&thinsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in"><B>We believe the Reincorporation
is <U>NOT</U> in the best interests of shareholders</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in">Alta Fox is Daktronics&#8217;
largest shareholder, with beneficial ownership of approximately 11.7% of the Company&#8217;s outstanding Common Stock and an unwavering
commitment to creating long-term value for all fellow stakeholders. We are urging all shareholders to vote &#8220;AGAINST&#8221; the
Proposals at the Special Meeting. Our interests are fully aligned with all independent shareholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in">Alta Fox believes that
cumulative voting is an important shareholder right that protects the voice of independent minority shareholders. Cumulative voting in
director elections is available in a majority of U.S. states and mandated by the South Dakota Constitution and the South Dakota Business
Corporation Act (the &ldquo;<U>SDBCA</U>&rdquo;). Under cumulative voting, shareholders can allocate their votes for particular candidates
in director elections. As investors in a South Dakota company, Daktronics shareholders have enjoyed the right to cumulate their votes
in director elections for decades.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in">Alta Fox believes that
the Reincorporation reflects the Board&rsquo;s intent to entrench itself and limit the influence of minority shareholders, specifically
through the elimination of cumulative voting. It was only after Alta Fox&rsquo;s advocacy for director refreshment, Board declassification
and other governance improvements that the Board voted for the proposed Reincorporation. Indeed, shortly before the Reincorporation proposal,
the Company, through its advisors, privately threatened that if Alta Fox did not back off its demands for governance reforms, the Company
would remove cumulative voting. In light of this, it is not surprising that the first and principal reason offered in the Company Proxy
Statement in favor of the Reincorporation is in fact to escape the cumulative voting provisions of the SDBCA. Alta Fox believes that enacting
the Reincorporation will a) weaken the ability of the Company&rsquo;s shareholders to nominate and elect well-qualified, truly independent
Board members, and b) slow or prevent the adoption of other critical governance reforms that Daktronics desperately needs by reducing
the Board&rsquo;s accountability to shareholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in">Alta Fox also believes
that the &ldquo;Majority Voting for Uncontested Elections&rdquo; and &ldquo;Adoption of Proxy Access&rdquo; provisions of the proposed
Delaware Bylaws described in the Company Proxy Statement are not a sufficient basis to vote for the Reincorporation. The Board can adopt
both provisions while remaining a South Dakota corporation, but has not done so. The timing of the Board&rsquo;s approval of the Reincorporation,
coming only after Alta Fox advocated for governance reforms and new Board members, also suggests that the other reasons for the Reincorporation
stated in the Company Proxy Statement are only a pretext for the Board&rsquo;s actual potential motivation for Reincorporation, entrenchment
and a rejection of strong Board members.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in">For these reasons, Alta
Fox opposes and will vote &ldquo;AGAINST&rdquo; the Reincorporation Proposal at the Special Meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&thinsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&thinsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>PROPOSAL NO. 1 </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&thinsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>THE REINCORPORATION PROPOSAL<BR>
<BR>
</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">In connection with the Reincorporation,
you are being asked by the Company to approve the Reincorporation Proposal. According to the Company Proxy Statement, the Reincorporation
Proposal requires, among other things, the affirmative vote of the holders of at least a majority of the voting power of shares present
or represented by proxy and entitled to vote at the Special Meeting, assuming a quorum is present. For purposes of this vote, abstentions
will have the same effect as a vote &#8220;<B><U>AGAINST</U></B>&#8221; the Reincorporation Proposal, and shares represented by executed
proxies that fail to instruct their broker, bank or other nominee to vote will have the same effect as a vote &#8220;FOR&#8221; the Reincorporation
Proposal. Broker non-votes will have no effect on the outcome of the proposal.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&thinsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">As discussed further in the &#8220;Reasons
for the Solicitation&#8221; section of this Proxy Statement, we oppose the Reincorporation and are soliciting your proxy to vote &#8220;<B><U>AGAINST</U></B>&#8221;
the Reincorporation Proposal at the Special Meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="text-transform: uppercase"><B>&thinsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0in"><B>ALTA FOX URGES YOU TO VOTE &#8220;<U>AGAINST</U>&#8221;
THE REINCORPORATION PROPOSAL ON <BR>
THE ENCLOSED <U>BLUE</U> PROXY CARD.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0in"><B>&thinsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0in"><B>&thinsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0in"><B>&thinsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0in"><B>&thinsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0in"><B>&thinsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-right: 0; margin-bottom: 6pt; margin-left: 0; background-color: white"><B>PROPOSAL
NO. 2 </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-right: 0; margin-bottom: 6pt; margin-left: 0; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>THE</B></FONT><B>
<FONT STYLE="text-transform: uppercase">Adjournment PROPOSAL</FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">You are
being asked by the Company to approve a proposal that will give the Board authority to adjourn the Special Meeting from time to time,
if necessary or appropriate, including to solicit additional proxies in favor of the Reincorporation Proposal if there are insufficient
votes at the time of such adjournment to approve such proposal.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Approval of the Adjournment
Proposal requires the affirmative vote of at least a majority of the voting power of shares present or represented by proxy and entitled
to vote at the Special Meeting, assuming a quorum is present. For purposes of this vote, an abstention will have the same effect as a
vote &#8220;<B><U>AGAINST</U></B>&#8221; the Adjournment Proposal, and shares represented by executed proxies that fail to instruct their
broker, bank or other nominee to vote will have the same effect as a vote &#8220;FOR&#8221; the Adjournment Proposal. Broker non-votes
will have no effect on the outcome of the proposal.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>ALTA
FOX URGES YOU TO VOTE &#8220;AGAINST&#8221; THE ADJOURNMENT PROPOSAL ON THE <BR>
ENCLOSED <U>BLUE</U> PROXY CARD.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&thinsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&thinsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&thinsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&thinsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&thinsp;</B></font>
</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B><BR>
CONSEQUENCES OF DEFEATING THE REINCORPORATION PROPOSAL</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">According to the Company
Proxy Statement, the Reincorporation Proposal requires a majority of the voting power of shares present or represented by proxy and entitled
to vote at a meeting at which a quorum is present.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">If the Company fails
to obtain the requisite vote of shareholders to approve the Reincorporation, the Reincorporation will not be consummated, and
Daktronics will continue to be incorporated under the laws of the State of South Dakota and governed by the SDBCA, the
company&#8217;s existing Amended and Restated Articles of Incorporation (the &#8220;Charter&#8221;) and Amended and Restated Bylaws
(the &#8220;Bylaws&#8221;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Please see the Company
Proxy Statement for further information and details regarding the Reincorporation and the Reincorporation Proposal. The Reincorporation
and the Reincorporation Proposal are described in further detail in the Company Proxy Statement which is available at www.sec.gov.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&thinsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&thinsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&thinsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 0in">&thinsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 0in">&thinsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>VOTING
AND PROXY </B></FONT><B>PROCEDURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">Only
shareholders of record on the Record Date will be entitled to notice of and to vote at the Special Meeting. Shareholders who sell their
Common Stock before the Record Date (or acquire them without voting rights after the Record Date) may not vote such shares. Shareholders
of record on the Record Date will retain their voting rights in connection with the Special Meeting even if they sell such shares after
the Record Date. Based on publicly available information, Alta Fox believes that the only outstanding class of securities of the Company
entitled to vote at the Special Meeting is the Common Stock.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-weight: normal">Common
Stock represented by properly executed </FONT>BLUE <FONT STYLE="font-weight: normal">proxy cards will be voted at the Special Meeting
as marked and, in the absence of specific instructions, will be voted &#8220;</FONT><U>AGAINST</U><FONT STYLE="font-weight: normal">&#8221;
the Reincorporation Proposal, &#8220;</FONT><U>AGAINST</U><FONT STYLE="font-weight: normal">&#8221; the Adjournment Proposal and in the
discretion of the persons named as proxies on all other matters as may properly come before the Special Meeting, as described herein.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B>QUORUM; BROKER NON-VOTES; DISCRETIONARY
VOTING</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">A
quorum is the minimum number of shares of Common Stock that must be represented at a duly called meeting in person or by proxy in order
to legally conduct business at the meeting. For the Special Meeting, Daktronics&#8217; shareholders entitled to cast a majority of all
the votes entitled to be cast at the Special Meeting must be present or represented by proxy to constitute a quorum. Abstentions and broker
non-votes will be included in determining whether a quorum is present at the Special Meeting. </FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-weight: normal">If
you hold your shares in street name and do not provide voting instructions to your broker, bank or other nominee your shares will not
be voted on any proposal on which your broker, bank or other nominee does not have discretionary authority to vote (a &#8220;broker non-vote&#8221;).
As noted above, while broker non-votes are considered entitled to vote for purposes of determining a quorum, they are excluded from the
tally of votes cast. Therefore, for each of the Proposals in this Proxy Statement, abstentions will have the same effect as a vote &#8220;</FONT><U>AGAINST</U><FONT STYLE="font-weight: normal">&#8221;
such proposal, while broker non-votes will have no effect on the outcome of the Proposals.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B>VOTES REQUIRED FOR APPROVAL</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-weight: normal"><I>Reincorporation
Proposal </I></FONT><FONT STYLE="font-weight: normal">&#8211; According to the Company Proxy Statement, the Reincorporation Proposal will
be approved if a majority of the voting power of shares present or represented by proxy and entitled to vote at a meeting at which a quorum
is present votes in favor of the Reincorporation Proposal. Accordingly, abstentions will have the effect as a vote &#8220;</FONT><U>AGAINST</U><FONT STYLE="font-weight: normal">&#8221;
the Reincorporation Proposal. </FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-weight: normal"><I>Adjournment
Proposal </I></FONT><FONT STYLE="font-weight: normal">&#8211; According to the Company Proxy Statement, the Adjournment Proposal will
be approved if a majority of the voting power of shares present or represented by proxy and entitled to vote at a meeting at which a quorum
is present votes in favor of the Adjournment Proposal. Accordingly, abstentions will have the effect as a vote &#8220;</FONT><U>AGAINST</U><FONT STYLE="font-weight: normal">&#8221;
the Adjournment Proposal. </FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify"><B>REVOCATION OF PROXIES </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&thinsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Shareholders of the Company may
revoke their proxies at any time before their proxies are voted at the Special Meeting by (i) delivering a written notice of revocation
to the Secretary of the Company; (ii) submitting another proxy bearing a later date; (iii) voting by telephone or via the Internet after
a prior telephone or Internet vote; or (iv) attending the Special Meeting and voting in person (although attendance at the Special Meeting
alone will not itself revoke a proxy). If your shares of Common Stock are held by a broker, bank or other nominee, you must follow the
instructions provided by the broker, bank or other nominee on how to change your instructions or change your vote.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&thinsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&thinsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&thinsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The delivery of a subsequently
dated proxy, as set out above, which is properly completed will constitute a revocation of any earlier delivered proxy. The revocation
may be delivered either to Alta Fox in care of Okapi at the address set forth on the back cover of this Proxy Statement or to the Secretary
of the Company at the Company&#8217;s principal executive offices located at 201 Daktronics Drive, Brookings South Dakota 57006. Although
a revocation is effective if delivered to the Company, we request that either the original or photostatic copies of all revocations be
mailed to Alta Fox in care of Okapi at the address set forth on the back cover of this Proxy Statement so that we will be aware of all
revocations and can more accurately determine if and when proxies have been received from the requisite Daktronics&#8217; shareholders
on the Record Date. Additionally, Okapi may use this information to contact shareholders who have revoked their proxies in order to solicit
later dated proxies against the Proposals.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&thinsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>IF YOU WISH TO VOTE &#8220;<U>AGAINST</U>&#8221;
THE PROPOSALS, PLEASE SIGN, DATE AND RETURN<BR>
 PROMPTLY THE ENCLOSED <U>BLUE</U> PROXY CARD IN THE POSTAGE-PAID ENVELOPE <BR>
PROVIDED.</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&thinsp;</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&thinsp;</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&thinsp;</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&thinsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 0in">&thinsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0in"><B>QUESTIONS AND ANSWERS ABOUT
THE PROXY MATERIALS AND THE SPECIAL MEETING</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">The following questions and
answers are intended to address some commonly asked questions regarding the Reincorporation, Proposals and Special Meeting. These questions
and answers may not address all questions that may be important to you as a Daktronics&#8217; shareholder. You are encouraged to carefully
read the detailed information contained elsewhere in this Proxy Statement and the documents publicly filed by the Company referenced in
this Proxy Statement, including the Company Proxy Statement.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 8pt Times New Roman, Times, Serif; width: 100%; margin-bottom: 12pt">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0pt">&thinsp;</TD>
    <TD STYLE="width: 0.5in; font-size: 10pt; text-align: left; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Q:</B></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>When and where is the Special Meeting?</I></B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 0in"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 8pt Times New Roman, Times, Serif; width: 100%; margin-bottom: 12pt">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0pt">&thinsp;</TD>
    <TD STYLE="width: 0.5in; font-size: 10pt; text-align: left; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">A:</FONT></TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">The Special Meeting will be
held in person at Daktronics, Inc., 201 Daktronics Drive, Brookings, South Dakota 57006, at 4:30 p.m. (Central Daylight Time), on _______,
2025.&thinsp;</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 0in"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 8pt Times New Roman, Times, Serif; width: 100%; margin-bottom: 12pt">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0pt">&thinsp;</TD>
    <TD STYLE="width: 0.5in; font-size: 10pt; text-align: left; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Q:</B></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>Who is entitled to vote at the Special Meeting?</I></B></FONT></TD></TR>
  </TABLE>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 8pt Times New Roman, Times, Serif; width: 100%; margin-bottom: 12pt">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0pt">&thinsp;</TD>
    <TD STYLE="width: 0.5in; font-size: 10pt; text-align: left; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">A:</FONT></TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">Only holders of record of Common
Stock at the close of business on _______, 2025 will be entitled to receive notice of the Special Meeting and to vote on the Reincorporation
Proposal at the Special Meeting. If you hold shares of Common Stock in &#8220;street name&#8221; at a broker, bank or nominee, please
follow the voting instructions provided by your broker, bank or nominee to ensure that your shares of Common Stock are represented at
the Special Meeting.&thinsp;</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 0in"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 8pt Times New Roman, Times, Serif; width: 100%; margin-bottom: 12pt">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0pt">&thinsp;</TD>
    <TD STYLE="width: 0.5in; font-size: 10pt; text-align: left; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Q:</B></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>What am I being asked to vote on at the Special Meeting?</I></B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 0in"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 8pt Times New Roman, Times, Serif; width: 100%; margin-bottom: 12pt">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0pt">&thinsp;</TD>
    <TD STYLE="width: 0.5in; font-size: 10pt; text-align: left; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">A:</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify; text-indent: 0in"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Daktronics&#8217; shareholders are being asked to vote to approve the Reincorporation Proposal and the Adjournment Proposal. The Reincorporation cannot be completed without the approval of a majority of Daktronics&#8217; shareholders. The approval of the Adjournment Proposal is not a condition to the completion of the Reincorporation.</FONT></P>
                                                                       <P STYLE="margin-top: 0; margin-bottom: 0">&thinsp;</P>
                                                                       <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Please see the sections titled &#8220;Proposal No. 1&#8211;Reincorporation Proposal&#8221; and &#8220;Proposal No. 2&#8211;Adjournment Proposal&#8221; for more information about each of these proposals.</FONT></P></TD></TR>
  </TABLE>


<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 8pt Times New Roman, Times, Serif; width: 100%; margin-bottom: 12pt">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0pt">&thinsp;</TD>
    <TD STYLE="width: 0.5in; font-size: 10pt; text-align: left; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Q:</B></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>How should I vote on the Proposals?</I></B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 0in"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 8pt Times New Roman, Times, Serif; width: 100%; margin-bottom: 12pt">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0pt">&thinsp;</TD>
    <TD STYLE="width: 0.5in; font-size: 10pt; text-align: left; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">A:</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We recommend that you vote &#8220;<B><U>AGAINST</U></B>&#8221; the Reincorporation Proposal and &#8220;<B><U>AGAINST</U></B>&#8221; the Adjournment Proposal on the enclosed&thinsp;<B>BLUE</B>&thinsp;proxy card. You may also vote &#8220;<B><U>AGAINST</U></B>&#8221; the Proposals using the Company&#8217;s proxy card.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 0in"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 8pt Times New Roman, Times, Serif; width: 100%; margin-bottom: 12pt">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0pt">&thinsp;</TD>
    <TD STYLE="width: 0.5in; font-size: 10pt; text-align: left; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Q:</B></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>What vote is required to approve the Proposals?</I></B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 0in"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 8pt Times New Roman, Times, Serif; width: 100%; margin-bottom: 12pt">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0pt">&thinsp;</TD>
    <TD STYLE="width: 0.5in; font-size: 10pt; text-align: left; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">A:</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">According to the Company Proxy Statement, (a) the Reincorporation Proposal requires the affirmative vote of holders of at least a majority of the voting power of shares present or represented by proxy and entitled to vote at the Special Meeting on the Reincorporation Proposal and (b) the Adjournment Proposal requires the affirmative vote of holders of at least a majority of the voting power of shares present or represented by proxy and entitled to vote at the Special Meeting on the Adjournment Proposal.</FONT></TD></TR>
  </TABLE>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 8pt Times New Roman, Times, Serif; width: 100%; margin-bottom: 12pt">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0pt">&thinsp;</TD>
    <TD STYLE="width: 0.5in; font-size: 10pt; text-align: left; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Q:</B></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>How do I vote?</I></B></FONT></TD></TR>
  </TABLE>


<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 8pt Times New Roman, Times, Serif; width: 100%; margin-bottom: 12pt">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0pt">&thinsp;</TD>
    <TD STYLE="width: 0.5in; font-size: 10pt; text-align: left; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">A:</FONT></TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0in">If you were a holder
of record of Common Stock as of the close of business on the Record Date, you may vote on the applicable proposal by:</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 0in"></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in">&thinsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 8pt Times New Roman, Times, Serif; width: 100%; margin-bottom: 12pt">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0pt">&thinsp;</TD>
    <TD STYLE="width: 0.5in; font-size: 10pt; text-align: left; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">&#9679;<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;
</FONT><FONT STYLE="font-size: 10pt">accessing the Internet website specified on your proxy card;</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in"></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-indent: -0.25in">&#9679;<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;
    </FONT><FONT STYLE="font-size: 10pt">calling the toll-free number specified on your proxy card;</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in">&thinsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-indent: -0.25in">&#9679;<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;
    </FONT><FONT STYLE="font-size: 10pt">signing and returning the enclosed proxy card in the postage-paid envelope provided; or</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&thinsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-indent: -0.25in">&#9679;<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;
    </FONT><FONT STYLE="font-size: 10pt">attending the Special Meeting and voting.</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">&thinsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">If you hold Common Stock in
the name of a broker, bank or other nominee, please follow the voting instructions provided by your broker, bank or other nominee to
ensure that your shares are represented at the Special Meeting.&thinsp;</P></TD></TR>
  </TABLE>


<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 8pt Times New Roman, Times, Serif; width: 100%; margin-bottom: 12pt">
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    <TD STYLE="width: 0pt">&thinsp;</TD>
    <TD STYLE="width: 0.5in; font-size: 10pt; text-align: left; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Q:</B></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>How important is my vote?</I></B></FONT></TD></TR>
  </TABLE>


<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 8pt Times New Roman, Times, Serif; width: 100%; margin-bottom: 12pt">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0pt">&thinsp;</TD>
    <TD STYLE="width: 0.5in; font-size: 10pt; text-align: left; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">A:</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Your vote &#8220;<B><U>AGAINST</U></B>&#8221; each of the Reincorporation Proposal and the Adjournment Proposal is very important, and you are encouraged to submit a&thinsp;<B>BLUE</B>&thinsp;proxy card as soon as possible.</FONT></TD></TR>
  </TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 8pt Times New Roman, Times, Serif; width: 100%; margin-bottom: 12pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: justify; padding-left: 0pt; text-indent: 0pt; width: 0pt"></TD>
  <TD STYLE="text-align: justify; padding-left: 0pt; text-indent: 0pt; width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&thinsp;</FONT></TD>
  <TD STYLE="text-align: justify; padding-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
  urge you to demonstrate your opposition to the Reincorporation and send a message to the Board that the Reincorporation is not in the
  best interests of the Company and its shareholders by signing, dating and returning the enclosed&thinsp;<B>BLUE</B>&thinsp;proxy card
  as soon as possible.</FONT></TD></TR>
</TABLE>


<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 8pt Times New Roman, Times, Serif; width: 100%; margin-bottom: 12pt">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0pt">&thinsp;</TD>
    <TD STYLE="width: 0.5in; font-size: 10pt; text-align: left; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Q:</B></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>What happens if the Reincorporation Proposal does not obtain the vote required for approval?</I></B></FONT></TD></TR>
  </TABLE>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 8pt Times New Roman, Times, Serif; width: 100%; margin-bottom: 12pt">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0pt">&thinsp;</TD>
    <TD STYLE="width: 0.5in; font-size: 10pt; text-align: left; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">A:</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If the Reincorporation Proposal does not obtain the requisite vote required for shareholder approval, Daktronics will continue to be incorporated under the laws of South Dakota and governed by the SDBCA, Charter and Bylaws. Please refer to the information under the heading &#8220;Consequences of Defeating the Reincorporation Proposal&#8221; for more information.</FONT></TD></TR>
  </TABLE>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 8pt Times New Roman, Times, Serif; width: 100%; margin-bottom: 12pt">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0px">&thinsp;</TD>
    <TD STYLE="width: 48px; font-size: 10pt; text-align: left; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Q:</B></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>How can I receive more information?</I></B></FONT></TD></TR>
  </TABLE>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 8pt Times New Roman, Times, Serif; width: 100%; margin-bottom: 12pt">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0pt">&thinsp;</TD>
    <TD STYLE="width: 0.5in; font-size: 10pt; text-align: left; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">A:</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If you have any questions about giving your proxy to cast your vote or about our solicitation, or if you require assistance, please call Okapi toll-free at + 1 (877) 629-6356, (212) 297-0720 or by email at info@okapipartners.com.</FONT></TD></TR>
</TABLE>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 8pt Times New Roman, Times, Serif; width: 100%; margin-bottom: 12pt">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0pt">&thinsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left; text-indent: 0in; width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Q:</B></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>Where can I find additional information concerning the Company and the Proposals?</I></B></FONT></TD></TR>
  </TABLE>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 8pt Times New Roman, Times, Serif; width: 100%; margin-bottom: 12pt">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 0pt">&thinsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left; text-indent: 0in; width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">A:</FONT></TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Pursuant to Rule 14a-5(c)
    promulgated under the Securities Exchange Act of 1934, as amended (the &#8220;Exchange Act&#8221;), we have omitted from this Proxy Statement
    certain disclosure required by applicable law to be included in the Company Proxy Statement in connection with the Special Meeting, including:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.25in">&#9679;&thinsp;&thinsp;&thinsp;&thinsp;<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">
    </FONT><FONT STYLE="font-size: 10pt">a summary term sheet of the Reincorporation;</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&thinsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.25in">&#9679;&thinsp;&thinsp;&thinsp;&thinsp;<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">
    </FONT><FONT STYLE="font-size: 10pt">the terms of the Reincorporation;</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&thinsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.25in">&#9679;&thinsp;&thinsp;&thinsp;&thinsp;<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">
    </FONT><FONT STYLE="font-size: 10pt">any reports, opinions and/or appraisals received by the Company in connection with the Reincorporation;</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&thinsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.25in">&#9679;&thinsp;&thinsp;&thinsp;&thinsp;<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">
    </FONT><FONT STYLE="font-size: 10pt">past contacts, transactions and negotiations regarding the Reincorporation and the Company&#8217;s
    respective affiliates and advisors;</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&thinsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.25in"></P></TD></TR>
</TABLE>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in">&thinsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 8pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0pt">&thinsp;</TD>
    <TD STYLE="width: 0.5in; font-size: 10pt; text-align: left; text-indent: 0in"></TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.25in">&#9679;&thinsp;&thinsp;&thinsp;&thinsp;<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">
</FONT><FONT STYLE="font-size: 10pt">U.S. federal and state regulatory requirements that must be complied with and approvals that must
be obtained in connection with the Reincorporation;</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&thinsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.25in">&#9679;&thinsp;&thinsp;&thinsp;&thinsp;<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">
    </FONT><FONT STYLE="font-size: 10pt">security ownership of certain beneficial owners and management of the Company, including 5% owners;</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&thinsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.25in">&#9679;&thinsp;&thinsp;&thinsp;&thinsp;<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">
    </FONT><FONT STYLE="font-size: 10pt">the trading prices of Common Stock over time;</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&thinsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.25in">&#9679;&thinsp;&thinsp;&thinsp;&thinsp;<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">
    </FONT><FONT STYLE="font-size: 10pt">the compensation paid and payable to the Company&#8217;s directors and executive officers; and</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&thinsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.25in">&#9679;&thinsp;&thinsp;&thinsp;&thinsp;<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">
    </FONT><FONT STYLE="font-size: 10pt">appraisal rights and dissenters&#8217; rights.</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&thinsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">We take no responsibility for the
    accuracy or completeness of information contained in the Company Proxy Statement. Except as otherwise noted herein, the information in
    this Proxy Statement concerning the Company has been taken from or is based upon documents and records on file with the SEC and other
    publicly available information.</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 0in">&thinsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 8pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; width: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I><BR>
</I></B></FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify; text-indent: 0in; width: 0.5in"><B>Q:</B></TD>
    <TD STYLE="font-size: 10pt; text-align: justify; text-indent: 0in"><B><I>What do I need to do now?</I></B></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 0in">&thinsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 8pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0pt">&thinsp;</TD>
    <TD STYLE="width: 0.5in; font-size: 10pt; text-align: left; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">A:</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Even if you plan to attend the Special Meeting, after carefully reading and considering the information contained in this Proxy Statement, please submit your&thinsp;<B>BLUE</B> proxy card promptly to ensure that your shares of Common Stock are represented at the Special Meeting. If you hold shares of Common Stock in your own name as the holder of record, please submit your proxy for your Common Stock by completing, signing, dating and returning the enclosed&thinsp;<B>BLUE</B>&thinsp;proxy card in the accompanying pre-paid reply envelope. If you decide to attend the Special Meeting in person and vote your shares of Common Stock at the Special Meeting, your vote by ballot at the Special Meeting will revoke any proxy previously submitted. If you are a beneficial owner of Common Stock, please refer to the instructions provided by your bank, brokerage firm or other nominee to see which of the above choices are available to you.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 0in">&thinsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 0in">&thinsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SOLICITATION OF PROXIES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&thinsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The solicitation of proxies pursuant
to this Proxy Statement is being made by Alta Fox. Proxies may be solicited by mail, facsimile, telephone, electronic mail, in person
and by advertisements. Solicitations may also be made by certain of the respective directors, officers, members and employees of Alta
Fox, none of whom will, except as described elsewhere in this Proxy Statement, receive additional compensation for such solicitation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&thinsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">We have retained Okapi
for solicitation and advisory services in connection with solicitations relating to the Special Meeting. Okapi will receive up to $[_____],
applicable toward the final fee to be mutually agreed upon by Alta Fox and Okapi and reimbursement of reasonable out-of-pocket expenses
for its services to Alta Fox in connection with the Solicitation. Arrangements will also be made with custodians, nominees and fiduciaries
for forwarding proxy solicitation materials to beneficial owners of Common Stock held as of the Record Date for the Special Meeting. Alta
Fox will reimburse such custodians, nominees and fiduciaries for reasonable expenses incurred in connection therewith. In addition, directors,
officers, members and certain other employees of Alta Fox and its affiliates may solicit proxies as part of their duties in the normal
course of their employment without any additional compensation. It is anticipated that Okapi will employ approximately [&#9679;] persons
to solicit shareholders for the Special Meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Alta Fox will pay all costs
of the Solicitation. Alta Fox Opportunities may seek reimbursement from the Company of all expenses Alta Fox incurs in connection with
the Solicitation but does not intend to submit the question of such reimbursement to a vote of shareholders of the Company. The expenses
incurred by Alta Fox to date in furtherance of, or in connection with, the Solicitation is approximately $[____]. Alta Fox anticipates
that its total expenses will be approximately $[_____]. The actual amount could be higher or lower depending on the facts and circumstances
arising in connection with this solicitation.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>ADDITIONAL PARTICIPANT INFORMATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&thinsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The participants in the
solicitation are anticipated to be Alta Fox Opportunities, a Delaware limited partnership, Alta Fox GenPar, LP (&#8220;<U>Alta Fox GP</U>&#8221;),
a Delaware limited partnership, Alta Fox Equity, LLC (&#8220;<U>Alta Fox LLC</U>&#8221;), a Delaware limited liability company, Alta Fox
Capital Management, LLC (&#8220;<U>Alta Fox Capital</U>&#8221;), a Texas limited liability company, and P. Connor Haley, a citizen of
the United States of America (each a &#8220;<U>Participant</U>&#8221; and, collectively, the &#8220;<U>Participants</U>&#8221;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The principal business
of Alta Fox Opportunities is investing in securities and engaging in all related activities and transactions. The principal business of
Alta Fox GP is serving as the general partner of Alta Fox Opportunities. The principal business of Alta Fox LLC is serving as the general
partner of Alta Fox GP. The principal business of Alta Fox Capital is serving as the investment manager to, and managing investment and
trading accounts of, Alta Fox Opportunities. The principal occupation of Mr. Haley is serving as the sole owner, member and manager of
each of Alta Fox Capital and Alta Fox LLC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The address of the principal
office of each of the members of Alta Fox is 640 Taylor Street, Suite 2522, Fort Worth, Texas 76102.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">As of the date hereof, Alta Fox
Opportunities directly beneficially owns 5,933,019 shares of Common Stock. Alta Fox Capital, as the investment manager of Alta Fox Opportunities,
may be deemed to beneficially own the 5,933,019 shares of Common Stock beneficially owned by Alta Fox Opportunities. Alta Fox GP, as the
general partner of each of Alta Fox Opportunities, may be deemed to beneficially own the 5,933,019 shares of Common Stock beneficially
owned by Alta Fox Opportunities. Alta Fox LLC, as the general partner of Alta Fox GP, may be deemed to beneficially own the 5,933,019
shares of Common Stock beneficially owned by Alta Fox Opportunities. Mr. Haley, as the sole owner, member and manager of each of Alta
Fox Capital and</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Alta Fox LLC, may be deemed to beneficially own the
5,933,019 shares of Common Stock owned beneficially by Alta Fox Opportunities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&thinsp;&thinsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">For information regarding
purchases and sales of securities of the Company during the past two (2) years by Alta Fox Opportunities, see&thinsp;<U>Schedule I</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The shares of Common Stock owned
directly by Alta Fox Opportunities were purchased with working capital (which may, at any given time, include margin loans made by brokerage
firms in the ordinary course of business).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&thinsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Except as set forth in this Proxy
Statement (including the Schedules hereto), (i) during the past ten (10) years, no Participant has been convicted in a criminal proceeding
(excluding traffic violations or similar misdemeanors); (ii) no Participant directly or indirectly beneficially owns any securities of
the Company; (iii)&thinsp;no Participant owns any securities of the Company which are owned of record but not beneficially; (iv) no Participant
has purchased or sold any securities of the Company during the past two years; (v) no part of the purchase price or market value of the
securities of the Company owned by any Participant is represented by funds borrowed or otherwise obtained for the purpose of acquiring
or holding such securities; (vi) no Participant is, or within the past year was, a party to any contract, arrangements or understandings
with any person with respect to any securities of the Company, including, but not limited to, joint ventures, loan or option arrangements,
puts or calls, guarantees against loss or guarantees of profit, division of losses or profits, or the giving or withholding of proxies;
(vii) no associate of any Participant owns beneficially, directly or indirectly, any securities of the Company; (viii) no Participant
owns beneficially, directly or indirectly, any securities of any parent or subsidiary of the Company; (ix) no Participant or any of his,
her or its associates was a party to any transaction, or series of similar transactions, since the beginning of the Company&#8217;s last
fiscal year, or is a party to any currently proposed transaction, or series of similar transactions, to which the Company or any of its
subsidiaries was or is to be a party, in which the amount involved exceeds $120,000; (x) no Participant or any of his, her or its associates
has any arrangement or understanding with any person with respect to any future employment by the Company or its affiliates, or with respect
to any future transactions to which the Company or any of its affiliates will or may be a party; (xi) no Participant has a substantial
interest, direct or indirect, by securities holdings or otherwise, in any matter to be acted on at the Special Meeting; (xii) no Participant
holds any positions or offices with the Company; (xiii) no Participant has a family relationship with any director, executive officer,
or person nominated or chosen by the Company to become a director or executive officer; and (xiv) no companies or organizations, with
which any of the Participants has been employed in the past five years, is a parent, subsidiary or other affiliate of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&thinsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">There are no material proceedings
to which any Participant in this solicitation or any of his or its associates is a party adverse to the Company or any of its subsidiaries
or has a material interest adverse to the Company or any of its subsidiaries.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&thinsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&thinsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&thinsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&thinsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&thinsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center"><B>OTHER MATTERS AND ADDITIONAL INFORMATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in">Alta Fox is unaware of
any other matters to be considered at the Special Meeting. However, should other matters, which Alta Fox is not aware of at a reasonable
time before this solicitation, be brought before the Special Meeting, the persons named as proxies on the enclosed <B>BLUE</B> proxy card
will vote on such matters in their discretion.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in">Some banks, brokers and
other nominee record holders may be participating in the practice of &#8220;householding&#8221; proxy statements and annual reports. This
means that only one copy of this Proxy Statement may have been sent to multiple shareholders in your household. We will promptly deliver
a separate copy of the document to you if you write to our proxy solicitor, Okapi, at the address set forth on the back cover of this
Proxy Statement, or call toll free at (877) 629-6356.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in">The information concerning
the Company and the proposals in the Company Proxy Statement contained in this Proxy Statement has been taken from, or is based upon,
publicly available documents on file with the SEC and other publicly available information. Although we have no knowledge that would indicate
that statements relating to the Company contained in this Proxy Statement, in reliance upon publicly available information, are inaccurate
or incomplete, to date we have not had access to the books and records of the Company, were not involved in the preparation of such information
and statements and are not in a position to verify such information and statements. All information relating to any person other than
the Participants in this solicitation is given only to our knowledge.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in">This Proxy Statement is
dated [&#9679;]. You should not assume that the information contained in this Proxy Statement is accurate as of any date other than such
date, and the mailing of this Proxy Statement to shareholders shall not create any implication to the contrary.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center"><B>FUTURE SHAREHOLDER PROPOSALS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Deadline
to Submit Proposals Pursuant to Rule 14a-8 for the 2025 Annual Meeting:</I></FONT> According to the Company Proxy Statement, shareholder
proposals pursuant to Rule 14a-8 under the Exchange Act must be received at Daktronics&#8217; principal executive office on or before
April 3, 2025, in order to be eligible to be included in the proxy statement for the 2025 annual meeting of shareholders (the &#8220;<U>2025
Annual Meeting</U>&#8221;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: 0.2pt"><I>Deadline
to Submit Nominations for the 2025 Annual Meeting for Purposes of Rule&thinsp;14a-19</I></FONT><FONT STYLE="letter-spacing: 0.2pt">: To
be timely for purposes of Rule&thinsp;14a-19 of the Exchange Act, shareholders who intend to solicit proxies in support of Board nominees
other than the Company&#8217;s nominees must provide notice that sets forth the information required by Rule&thinsp;14a-19 in addition to
satisfying the requirements of the Bylaws. Notice must be received by Daktronics&#8217; Corporate Secretary at their principal executive
office not later than </FONT>June 17, 2025 and the notice must otherwise comply with Rule 14a-4(c) under the Exchange Act<FONT STYLE="letter-spacing: 0.2pt">.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="letter-spacing: 0.2pt">Proposals
will only be acted upon if sent to Daktronics&#8217; Corporate Secretary at 201 Daktronics Drive, Brookings, South Dakota 5700. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="letter-spacing: 0.2pt">The
information set forth above regarding the procedures for submitting shareholder proposals for consideration at the 2025 Annual Meeting
is based on information contained in the Company Proxy Statement and the Bylaws. The incorporation of this information in this Proxy Statement
should not be construed as an admission by Alta Fox that such procedures are legal, valid or binding.</FONT></P>


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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center"><B>CERTAIN ADDITIONAL INFORMATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in">WE HAVE OMITTED FROM THIS
PROXY STATEMENT CERTAIN DISCLOSURE REQUIRED BY APPLICABLE LAW THAT IS EXPECTED TO BE INCLUDED IN THE COMPANY&#8217;S PROXY STATEMENT RELATING
TO THE SPECIAL MEETING BASED ON OUR RELIANCE ON RULE 14A-5(C) UNDER THE EXCHANGE ACT. SHAREHOLDERS ARE DIRECTED TO REFER TO THE COMPANY&#8217;S
PROXY STATEMENT FOR THE FOREGOING INFORMATION. <B>SHAREHOLDERS CAN ACCESS THE COMPANY&#8217;S PROXY STATEMENT AND OTHER RELEVANT DOCUMENTS
DISCLOSING THIS INFORMATION, WITHOUT COST, ON THE SEC&#8217;S WEBSITE AT WWW.SEC.GOV</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in">The information concerning
the Company and the Proposals in the Company Proxy Statement contained in this Proxy Statement has been taken from, or is based upon,
publicly available documents on file with the SEC and other publicly available information. Although we have no knowledge that would indicate
that statements relating to the Company contained in this Proxy Statement, in reliance upon publicly available information, are inaccurate
or incomplete, to date we have not had access to the books and records of the Company, were not involved in the preparation of such information
and statements and are not in a position to verify such information and statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 24pt 0pt 0pt 50%; text-align: justify; text-indent: 0in"><B>ALTA FOX OPPORTUNITIES
FUND, LP</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0pt 0pt 50%; text-align: justify; text-indent: 0in">Dated: [&#9679;],
2025</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">&thinsp;</P>


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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center"><B>SCHEDULE I</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center"><B>TRANSACTIONS IN SECURITIES OF THE COMPANY</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center"><B>DURING THE PAST TWO YEARS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&thinsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 8pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 35%; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Nature of Transaction</U></FONT></TD>
    <TD STYLE="width: 41%; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Amount of Securities<BR>
<U>Purchased/(Sold)</U></FONT></TD>
    <TD STYLE="width: 24%; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Date of<BR>
<U>Transaction</U></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in"><B>&thinsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in"><B><U>ALTA FOX OPPORTUNITIES FUND,
LP</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in"><B>&thinsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 8pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="width: 35%; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sale of Common Stock</FONT></TD>
    <TD STYLE="vertical-align: top; width: 41%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(4,714)</FONT></TD>
    <TD STYLE="vertical-align: top; width: 24%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">03/06/2023</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sale of Common Stock</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(67,389)</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">03/07/2023</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Purchase of Common Stock</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">49,500</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">03/14/2023</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Purchase of Common Stock</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">52,973</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">03/15/2023</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sale of Common Stock</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3,416)</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">06/01/2023</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sale of Common Stock</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(5,386)</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">06/02/2023</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sale of Common Stock</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(174,909)</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">06/05/2023</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sale of Common Stock</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(215,889)</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">06/06/2023</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sale of Common Stock</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(282,800)</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">06/07/2023</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sale of Common Stock</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(15,800)</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">06/09/2023</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Purchase of Common Stock</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">9,521</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">07/13/2023</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Purchase of Common Stock</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">140,479</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">07/14/2023</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sale of Common Stock</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(39,000)</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">08/24/2023</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sale of Common Stock</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(50,000)</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">08/24/2023</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sale of Common Stock</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(100,000)</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">08/25/2023</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sale of Common Stock</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(20,000)</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">08/29/2023</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sale of Common Stock</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(18,726)</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">08/30/2023</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sale of Common Stock</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3,300)</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">08/31/2023</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sale of Common Stock</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(96,500)</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">09/06/2023</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sale of Common Stock</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(93,502)</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">09/11/2023</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sale of Common Stock</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(91,498)</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">09/12/2023</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sale of Common Stock</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(400)</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">09/13/2023</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sale of Common Stock</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(300)</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">09/14/2023</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sale of Common Stock</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(9,700)</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10/10/2023</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sale of Common Stock</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(4,600)</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10/11/2023</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sale of Common Stock</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(48,900)</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">11/15/2023</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sale of Common Stock</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(51,100)</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">11/17/2023</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sale of Common Stock</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(67,514)</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">11/20/2023</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sale of Common Stock</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(32,486)</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">11/21/2023</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sale of Common Stock</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(383,536)</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">06/26/2024</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sale of Common Stock</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(336,464)</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">06/27/2024</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Purchase of Common Stock</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">292,468</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10/10/2024</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Purchase of Common Stock</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">46,812</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10/11/2024</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Purchase of Common Stock</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">181,203</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10/14/2024</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Purchase of Common Stock</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">80,021</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10/15/2024</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Purchase of Common Stock</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">58,530</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10/16/2024</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Purchase of Common Stock</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">54,296</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10/17/2024</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Purchase of Common Stock</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">108,591</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10/18/2024</FONT></TD></TR>
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Purchase of Common Stock</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">79,816</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10/21/2024</FONT></TD></TR>
  </TABLE>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in">&thinsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 8pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="width: 35%; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Purchase of Common Stock</FONT></TD>
    <TD STYLE="vertical-align: top; width: 41%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">272,563</FONT></TD>
    <TD STYLE="vertical-align: top; width: 24%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10/22/2024</FONT></TD></TR>
  <TR STYLE="background-color: White">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Purchase of Common Stock</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">42,129</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">11/22/2024</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in">&thinsp;</P>


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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center"><B><U>IMPORTANT</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in">Tell the Board what you
think! Your vote is important. No matter how many shares of Common Stock you own, please give Alta Fox your proxy &#8220;<B>AGAINST</B>&#8221;
the Reincorporation in accordance with Alta Fox&#8217;s recommendations on the other proposals on the agenda at the Special Meeting by
taking these three steps:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">SIGNING the enclosed <B>BLUE </B>proxy card;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">DATING the enclosed <B>BLUE </B>proxy card; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">MAILING the enclosed <B>BLUE </B>proxy card TODAY in the envelope provided (no postage is required if
mailed in the United States).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
any of your shares of Common Stock are held in the name of a brokerage firm, bank, bank nominee or other institution, only it can vote
such shares of Common Stock and only upon receipt of your specific instructions. Depending upon your broker or custodian, you may be able
to vote either by toll-free telephone or by the Internet. Please refer to the enclosed voting form for instructions on how to vote electronically.
You may also vote by signing, dating and returning the enclosed </FONT><B>BLUE</B> voting form.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: justify; text-indent: 0.5in">If you have any questions
or require any additional information concerning this Proxy Statement, please contact Okapi at the address set forth below.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 8pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: left; text-indent: 0in"><I>If you have any questions, require
    assistance in voting your <B>BLUE</B> proxy card, or need additional copies of Alta Fox&#8217;s proxy materials, please contact Okapi
    Partners at the phone numbers or email address listed below:</I></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: center; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><IMG SRC="okapipartnerslogo.jpg" ALT="" STYLE="height: 90px; width: 189px"></FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Okapi Partners LLC</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">1212 Avenue of the Americas, 24th Floor</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">New York, New York 10036</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&thinsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Shareholders may call toll-free: (877) 629-6356</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Banks and brokers call: (212) 297-0720</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">E-mail: info@okapipartners.com</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&thinsp;</P>


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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&thinsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 0in">&thinsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>BLUE PROXY CARD</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&thinsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&thinsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; color: red"><B>PRELIMINARY COPY SUBJECT TO COMPLETION<BR>
DATED [&#9679;], 2025 </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>DAKTRONICS, INC. </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><BR>
SPECIAL MEETING OF SHAREHOLDERS<BR>
<BR>
THIS PROXY IS SOLICITED ON BEHALF OF ALTA FOX OPPORTUNITIES FUND, LP AND THE OTHER PARTICIPANTS IN ITS PROXY SOLICITATION<BR>
<BR>
DAKTRONICS, INC.<BR>
IS NOT SOLICITING THIS PROXY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&thinsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B>P&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;R&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;O&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;X&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;Y</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
undersigned appoints Connor Haley, Sebastian Alsheimer, Bruce Goldfarb and Charles Garkse</FONT> and each of them, as attorneys and
agents with full power of substitution to vote all shares of common stock &#8220;<U>Common Stock</U>&#8221;) of Daktronics, Inc., a South
Dakota corporation (the &#8220;<U>Company</U>&#8221;) which the undersigned would be entitled to vote if personally present at the Special
Meeting of the Company scheduled to be held at Daktronics, Inc., 201 Daktronics Drive, Brookings, South Dakota 57006 on _________, 2025
at 4:30 p.m., Central Daylight Time (including any adjournments or postponements thereof and any meeting called in lieu thereof, the
&#8220;<U>Special Meeting Meeting</U>&#8221;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The undersigned hereby
revokes any other proxy or proxies heretofore given to vote or act with respect to the Common Stock held by the undersigned, and hereby
ratifies and confirms all action the herein named attorneys and proxies, their substitutes, or any of them may lawfully take by virtue
hereof. If properly executed, this Proxy will be voted as directed on the reverse and in the discretion of the herein named attorneys
and proxies or their substitutes with respect to any other matters as may properly come before the Special Meeting that are unknown to
Alta Fox Opportunities Fund, LP and the other participants in this solicitation (collectively, &#8220;<U>Alta Fox</U>&#8221;) a reasonable
time before this solicitation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"><B>THIS PROXY WILL BE VOTED
AS DIRECTED. IF NO DIRECTION IS INDICATED WITH RESPECT TO THE PROPOSALS ON THE REVERSE, THIS PROXY WILL BE VOTED&thinsp;&#8220;<U>AGAINST</U>&#8221;
PROPOSAL 1 AND &#8220;<U>AGAINST</U>&#8221; PROPOSAL 2.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">This Proxy will be valid
until the completion of the Special Meeting. This Proxy will only be valid in connection with Alta Fox&#8217;s solicitation of proxies
for the Special Meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>This
Proxy Statement and our </B></FONT><B><U>BLUE</U> <FONT STYLE="font-size: 10pt">proxy card are available at:</FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: center"><B>FixDaktronics.com</B></P>



<!-- Field: Page; Sequence: 27 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&thinsp;</TD><TD STYLE="width: 34%">&thinsp;</TD><TD STYLE="width: 33%">&thinsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&thinsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B>IMPORTANT: PLEASE SIGN, DATE AND MAIL THIS
PROXY CARD PROMPTLY!</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B>CONTINUED AND TO BE SIGNED ON REVERSE SIDE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in">&thinsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in">&thinsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in">&thinsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in">&thinsp;</P>


<!-- Field: Page; Sequence: 28 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 2pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&thinsp;</TD><TD STYLE="width: 34%">&thinsp;</TD><TD STYLE="width: 33%">&thinsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&thinsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 0in">&thinsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>BLUE</B></FONT><B>
PROXY CARD</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0in"><B>[X] Please mark vote as
in this example</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0in"><B>ALTA FOX STRONGLY RECOMMENDS
THAT SHAREHOLDERS VOTE &#8220;<U>AGAINST</U>&#8221; PROPOSAL 1 AND &#8220;<U>AGAINST</U>&#8221; PROPOSAL 2. </B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.</FONT></TD><TD STYLE="text-align: justify">The Company&#8217;s proposal to approve the reincorporation of the Company from the State of South Dakota
to the State of Delaware pursuant to a plan of conversion (the &#8220;<U>Reincorporation Proposal</U>&#8221;).</TD></TR></TABLE>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 8pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 10pt; width: 34%; padding-left: 0.5in; text-align: right; text-indent: -0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;
    </FONT><FONT STYLE="font-size: 10pt">FOR</FONT></TD>
    <TD STYLE="padding-top: 10pt; width: 33%; text-align: center; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;
    </FONT><FONT STYLE="font-size: 10pt">AGAINST</FONT></TD>
    <TD STYLE="padding-top: 10pt; width: 33%; text-align: center; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;
    </FONT><FONT STYLE="font-size: 10pt">ABSTAIN</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0 0.5in; text-align: justify; text-indent: -0.5in">&thinsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.</FONT></TD><TD STYLE="text-align: justify">The Company&#8217;s proposal to approve an adjournment of the meeting, if necessary, to solicit additional
proxies if there are not sufficient votes of the Reincorporation Proposal.</TD></TR></TABLE>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 8pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 10pt; width: 34%; padding-left: 0.5in; text-align: right; text-indent: -0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;
    </FONT><FONT STYLE="font-size: 10pt">FOR</FONT></TD>
    <TD STYLE="padding-top: 10pt; width: 33%; text-align: center; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;
    </FONT><FONT STYLE="font-size: 10pt">AGAINST</FONT></TD>
    <TD STYLE="padding-top: 10pt; width: 33%; text-align: center; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;
    </FONT><FONT STYLE="font-size: 10pt">ABSTAIN</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0in"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
  <TD COLSPAN="2" STYLE="white-space: nowrap">&thinsp;</TD>
  <TD>&thinsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD STYLE="white-space: nowrap; width: 5%">DATED:&thinsp;&thinsp;</TD>
  <TD STYLE="width: 5%"><U>&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;</U></TD>
  <TD STYLE="width: 90%"></TD>
  </TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD COLSPAN="2" STYLE="white-space: nowrap">&thinsp;</TD>
  <TD>&thinsp;</TD>
  </TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD COLSPAN="3"><u>&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;</u></TD>
  </TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD COLSPAN="2" STYLE="padding-top: 1pt; white-space: nowrap">(Signature)</TD>
  <TD STYLE="padding-top: 1pt">&thinsp;</TD>
  </TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD COLSPAN="2" STYLE="white-space: nowrap">&thinsp;</TD>
  <TD>&thinsp;</TD>
  </TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD COLSPAN="3"><u>&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;</u></TD>
  </TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD COLSPAN="2" STYLE="padding-top: 1pt; white-space: nowrap">(Signature, if held jointly)</TD>
  <TD STYLE="padding-top: 1pt">&thinsp;</TD>
  </TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD COLSPAN="2" STYLE="white-space: nowrap">&thinsp;</TD>
  <TD>&thinsp;</TD>
  </TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD COLSPAN="3"><u>&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;&thinsp;</u>&thinsp;&thinsp;</TD>
  </TR>
<TR STYLE="vertical-align: top; text-align: left">
  <TD COLSPAN="2" STYLE="padding-top: 1pt; white-space: nowrap">(Title)</TD>
  <TD STYLE="padding-top: 1pt">&thinsp;</TD>
  </TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 10pt 0 0; text-align: justify; text-indent: 0in">WHEN SHARES ARE HELD JOINTLY,
JOINT OWNERS SHOULD EACH SIGN. EXECUTORS, ADMINISTRATORS, TRUSTEES, ETC., SHOULD INDICATE THE CAPACITY IN WHICH THEY ARE SIGNING. PLEASE
SIGN EXACTLY AS NAME APPEARS ON THIS PROXY.</P>


































<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 6pt 0.5in; text-align: justify; text-indent: 0in"></P>

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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
