Huuuge Inc.

Legal Proceedings Report • Mar 17, 2023

Information on exposure to Silicon Valley Bank - update

With reference to the current report no. 8/2023 of March 11, 2023,Huuuge, Inc. (the _quot;Issuer_quot;) hereby announces that it has regained accessto an account at Silicon Valley Bank (_quot;SVB_quot;) in which it held fundstotaling approximately USD 24.2 million, and as of today has completedtransfers of funds to other banks totaling USD 23.6 million. At the dateof this current report USD 0.6 million remains held in SVB in operatingaccounts and money market accounts.

In accordance with statements made by the Federal Reserve Board on March12, 2023, the Federal Deposit Insurance Agency has taken measures toensure full protection of all SVB depositors, both insured anduninsured. The Issuer, having analyzed the information obtained andrecent statements from the US regulatory authorities, continues toassess the risk of loss of deposited funds at SVB as low.

The Issuer reiterates that to the best of its knowledge at the date ofthis Report, the SVB situation has no significant impact on the Group.The Issuer will provide an update on any future material developments asnecessary.

Legal basis: Article 17 (1) of the MAR