BETMAKERS TECHNOLOGY GROUP LTD — Audit Report / Information 2022

Sep 1, 2022

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2 September 2022

PREVIOUSLY ANNOUNCED SHARE ISSUANCE FINALISED

Waterhouse VC finalisation

BetMakers Technology Group Limited (ASX:BET) ( BetMakers or the Company ) has finalised its agreement with Waterhouse VC Group, as highlighted in the recent results announcement[1] , and have provided the required audit letter in relation to the revenues generated as part of the deal. This completes the agreement and no further payments including equity payments will be required after 30 June 2022.

Tripp Performance Rights

Further to the announcement released on 21 April 2022, the Company has issued 35,000,000 Shares upon conversion of that number of Class A Performance Rights held by an entity associated with Matt Tripp. As set out in the announcement of 21 April 2022, the Class A Performance Rights vested upon the Company entering into an agreement with NTD Pty Limited, which was independently evaluated as satisfying the vesting criteria for a ‘Strategic Deal’. The shares will remain subject to voluntary escrow restrictions until 21 April 2025.

Cleansing Statement

The Company hereby notifies the ASX under section 708A(5)(e) of the Corporations Act 2001 (Cth) ( Act ) that:

• (a) the Company completed the issue and allotment of 59,264,351 Shares;

• (b) the Company issued the Shares without disclosure under Part 6D.2 of the Act;

• (c) the Company provides this notice under section 708A(5)(e) of the Act;

• (d) as at the date of this notice:

• (i) the Company has complied with the provisions of Chapter 2M and section 674 of the Act as they apply to the Company; and

• (ii) other than as set out in this announcement, there is no information that has been excluded from a continuous disclosure notice in accordance with the ASX Listing Rules and that investors and their professional advisors would reasonably require for the purpose of making an informed assessment of:

  • (A) the assets and liabilities, financial position and performance, profits and losses and prospects of the Company; or

  • (B) the rights and liabilities attaching to the Shares.

1 See ASX announcement of 26 August 2022

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Todd Buckingham, Managing Director of BetMakers, authorised the release of this announcement to ASX.

For further information please contact

Charly Duffy Company Secretary companysecretary@thebetmakers.com +61 (0) 409 083 780

Jane Morgan Investor and Media Relations investors@thebetmakers.com +61 (0) 405 555 618

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INDEPENDENT AUDITOR’S REVIEW REPORT

TO THE MEMBERS OF BETMAKERS TECHNOLOGY GROUP LIMITED

Report on the Statement of Revenues

We have reviewed the attached Statement for the Tom Waterhouse App clients, Managed Trade Services clients and Rob Waterhouse Managed Trade Services for the year ended 30 June 2022.

The Statement has been prepared by Betmakers Technology Group Limited, to confirm the revenues recorded in regards to the Class C vesting period ended 30 June 2022.

Directors’ Responsibility for the Statement

The directors’ of the Company are responsible for the preparation of Statement and has determined that the methodology used is appropriate to the needs of the users. This responsibility includes establishing and maintaining internal control relevant to the preparation of the Statement that is free from material misstatement, whether due to fraud or error.

Auditor’s Responsibility

Our responsibility is to express a conclusion on the Statement based on our review. We conducted our review in accordance with Standard on Review Engagements ASRE 2405 Review of Historical Financial Information Other than a Financial Report in order to state whether anything has come to our attention that causes us to believe that the Statement is not prepared, in all material respects, in accordance with the accounting policies used. No opinion is expressed as to whether the accounting policies used are appropriate to the needs of the users.

ASRE 2405 requires us to comply with the requirements of applicable code of professional conduct of a professional accounting body.

A review consists of making enquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Australian Auditing Standards and consequently does not enable us to obtain assurance that would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

PKF (NS) Audit & Assurance Limited Partnership ABN 91 850 861 839 Liability limited by a scheme approved under Professional Standards Legislation

Sydney Newcastle Level 8, 1 O'Connell Street 755 Hunter Street Sydney NSW 2000 Australia Newcastle West NSW 2302 Australia GPO Box 5446 Sydney NSW 2001 PO Box 2368 Dangar NSW 2309 p +61 2 8346 6000 p +61 2 4962 2688 f +61 2 8346 6099 f +61 2 4962 3245

PKF (NS) Audit & Assurance Limited Partnership is a member firm of the PKF International Limited family of separately owned firms and does not accept any responsibility or liability for the actions or inactions of any individual member or correspondent firm or firms.

For our office locations visit www.pkf.com.au

Conclusion

Based on our review, which is not an audit, nothing has come to our attention that causes us to believe that the Statement for the Tom Waterhouse App clients, Managed Trade Services clients and Rob Waterhouse Managed Trade Services for the Year Ended 30 June 2022 is not prepared, in all material respects, in accordance with the accounting policies used.

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PKF

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PAUL PEARMAN PARTNER

20 JULY 2022 SYDNEY, NSW