Huuuge Inc.

Transaction in Own Shares • Aug 30, 2023

Retirement of shares purchased by the Issuer during the share buyback_#160;

Huuuge, Inc. (the Issuer) informs that on August 29, 2023, in accordancewith Section 243 of the Delaware General Corporation law, the Board ofDirectors adopted a resolution on the retirement of 17,121,919 shares ofcommon stock of the Issuer representing 20.3% of the issued sharecapital of the Issuer comprising of 84,246,697 shares. The shares thatwere subject to the retirement were purchased by the Issuer during theshare buyback (current report No. 25/2023 dated July 4, 2023) with theintention that the shares will be retired, other than those sharesnecessary, in the Issuer's view, to satisfy its ongoing needs under theIssuer's employee stock option plans._#160;

Effective as of the adoption of the resolution of the Board ofDirectors, the retired shares resumed the status of authorized andunissued shares of the common stock of the Issuer. At the same time, theIssuer's issued share capital decreased from 84,246,697 to 67,124,778shares.

Further, following a review, the Board of Directors concluded that sucha high authorized capital is not necessary and therefore the Board ofDirectors decided that it will recommend that on the next Annual GeneralMeeting the stockholders approve an amendment to the Issuer'sCertificate of Incorporation to decrease the authorized capital of theIssuer by 21,128,984 shares of common stock of the Issuer, as a resultreducing the total number of the authorized shares from 113,881,420 to92,752,436 where 67,124,778 will be the issued shares and 25,627,658authorized and unissued shares. The authorized and unissued shares inthe amount of 25,627,658 will be used, among others, for the Issuer'semployee stock option plans.

Legal basis: Article 17(1) of the MAR Regulation