Alpha Modus and SurgePays Sign 25,000-Activation Pilot to Launch Alpha Cash Across SurgePays' Prepaid Wireless and Convenience-Store Distribution Network

Agreement establishes embedded distribution pathway into platforms serving millions of underbanked Americans, with initial deployment and activation economics defined

CORNELIUS, N.C. and BARTLETT, Tenn., May 07, 2026 (GLOBE NEWSWIRE) -- Alpha Modus Holdings, Inc. (“Alpha Modus”) (NASDAQ: AMOD), through its subsidiary Alpha Modus Financial Services, LLC (“AMFS”), and SurgePays, Inc. (NASDAQ: SURG) ("SurgePays"), today announced the execution of a multi-year Commercial Integration and Distribution Agreement to deploy the Alpha Cash mobile wallet across SurgePays' prepaid wireless and convenience-store retail channels, formalizing a previously announced partnership.

The agreement enables the direct integration into SurgePays’ consumer-facing ecosystem, including ProgramBenefits.com and SurgePays' Prepaid Wireless and Convenience-Store Distribution Network, positioning Alpha Cash within platforms that collectively serve millions of underbanked and underserved Americans.

Under the terms of the agreement, SurgePays will promote Alpha Cash across:

ProgramBenefits.com
Point-of-sale marketing channels
Digital intake and onboarding flows
Wireless activation pathways, including Lifeline and related programs

The integration is designed to embed Alpha Cash directly into existing consumer acquisition and benefit enrollment journeys, reducing friction to adoption and enabling scaled wallet distribution through infrastructure already in place.

The agreement includes an initial deployment phase designed to validate performance across SurgePays’ network, with:

Up to 25,000 devices enabled with Alpha Cash access
A defined activation structure tied to funded wallet accounts
A revenue-sharing model aligned to long-term consumer usage

Alpha Modus will fund a consumer activation incentive and compensate SurgePays on a per-activation basis, along with providing SurgePays a share of downstream wallet revenue generated from enrolled users for a defined period.

“This agreement should move Alpha Cash into live distribution channels that already reach the consumers we are targeting,” said William Alessi, Chief Executive Officer of Alpha Modus Holdings. “This is not a theoretical partnership - we will be embedding directly into the onboarding flows and platforms that serve millions of underbanked Americans. The structure should allow us to validate performance while building toward broader scale through an established national footprint.”

"Alpha Cash gives our prepaid wireless subscribers a mobile wallet built for how they already engage with their phones,” said Jeremy Gies, Executive Vice President of SurgePays. “The Pilot lets us evaluate enrollment economics at scale before we expand beyond the initial phase of the partnership. This agreement enables us to integrate that solution directly into our existing channels and evaluate adoption at scale.”

According to the FDIC’s 2023 National Survey, approximately 24.6 million U.S. households rely on alternative financial services for everyday transactions, representing tens of millions of consumers facing high fees for basic financial access. By integrating into SurgePays’ ecosystem, Alpha Modus is positioning Alpha Cash to directly address this market through a mobile-first platform embedded within existing consumer touchpoints.

U.S. consumers reliant on alternative financial services spend an estimated $347 billion annually in fees and interest, representing a significant and persistent economic burden (FinHealth Spend Report). Through ProgramBenefits.com and SurgePays' Prepaid Wireless and Convenience-Store Distribution Network, SurgePays, Inc. operates within a distribution ecosystem that engages millions of these consumers through existing enrollment and service channels.

The agreement follows a previously announced Letter of Intent between the parties and represents one of the definitive agreements contemplated under that framework.

About Alpha Modus Holdings

Alpha Modus Holdings, Inc. ("Alpha Modus" or the "Company") (NASDAQ: AMOD) is a vertical AI company focused on real-time, in-store shopper engagement and attribution. Its patented "closed-loop" retail AI framework, Sense → Decide → Deliver → Attribute, enables brands and retailers to measure the full impact of digital content, physical interactions, and transaction outcomes. Through subsidiaries like Alpha Modus Financial Services, the company is actively deploying technologies that merge artificial intelligence, retail media, and financial access across the physical retail landscape.

Learn more at www.alphamodus.com.

Explore our patent portfolio at alphamodus.com/what-we-do/patent-portfolio/.

Read the latest news in our press room at alphamodus.com/press-room/.

Forward-Looking Statements

This press release includes "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. Alpha Modus's actual results may differ from their expectations, estimates, and projections, and, consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as "expect," "estimate," "project," "budget," "forecast," "anticipate," "intend," "plan," "may," "will," "could," "should," "believes," "predicts," "potential," "continue," and similar expressions (or the negative versions of such words or expressions) are intended to identify such forward-looking statements, but are not the exclusive means of identifying these statements. These forward-looking statements include, without limitation, Alpha Modus's expectations with respect to future performance.

Alpha Modus Holdings, Inc. ("Alpha Modus") cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Alpha Modus does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions, or circumstances on which any such statement is based.

Contact Information

Investor Relations

Alpha Modus Holdings, Inc.

Email: ir@alphamodus.com

Website: www.alphamodus.com

About SurgePays, Inc.

SurgePays, Inc. (NASDAQ: SURG) is a fintech and mobile virtual network operator (MVNO) that delivers prepaid wireless, financial products, and AI-driven decisioning tools to the approximately 138 million subprime consumers in the United States. Through its proprietary point-of-sale platform deployed across approximately 9,000 convenience stores and a growing Retail Media Network, SurgePays enables retailers to offer wireless activations, top-ups, and consumer financial services. The Company's subsidiaries include LinkUp Mobile, Torch Wireless, the HERO mobile virtual network enabler (MVNE) platform, and ProgramBenefits.com, an AI-powered enrollment and decisioning platform serving the subprime consumer market. SurgePays is headquartered in Bartlett, TN.

Learn more at www.surgepays.com and ir.surgepays.com.

Cautionary Note Regarding Forward-Looking Statements

This press release includes express or implied statements that are not historical facts and are considered forward-looking within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act. Forward-looking statements involve substantial risks and uncertainties and generally relate to future events or our future financial or operating performance. These statements may include projections, guidance, or other estimates regarding revenue, cash flow, business growth, market expansion, or customer acquisition, and statements regarding subscriber growth, distribution expansion, and operating scale.

In some cases, you can identify forward-looking statements by words such as “may,” “will,” “could,” “would,” “should,” “expect,” “intend,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “project,” “potential,” “continue,” or similar terminology.

Although we believe the expectations reflected in these forward-looking statements are reasonable, they involve known and unknown risks and uncertainties that may cause actual results to differ materially from those described in the forward-looking statements. These risks include, but are not limited to, our ability to scale our prepaid wireless business, maintain retail distribution relationships, expand our merchant platform, and achieve anticipated subscriber growth.

Additional information regarding these and other risks can be found in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the fiscal year ended December 31, 2025. The forward-looking statements in this press release speak only as of the date they are made, and the Company undertakes no obligation to update them except as required by law.

Investor Relations Contact:
Valter Pinto, Managing Director
KCSA Strategic Communications
212.896.1254
SurgePays@KCSA.com

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