FATFISH GROUP LIMITED — Capital/Financing Update 2021

Jan 24, 2021

Fatfish Group Limited (ACN 004 080 460) Level 4, 91 William Street Melbourne VIC 3000 Australia

==> picture [94 x 93] intentionally omitted <==

www.fatfish.co

25 January 2021

ASX Announcement

Fatberry Digital Insurance Marketplace Records Fastest-Growing Revenue Trend last 6 Months

Highlights:

• Fatberry recorded explosive monthly sales growth of over 100% over the past 6 months.

• FFG owns 53.4% stake in Fatberry via Swedish listed subsidiary Abelco Investment Group AB

• For the month of January 2021, Fatberry has already achieved revenues equivalent to 180% of its December 2020 revenues

• Fatberry’s fast-growing revenue benefits from the accelerated digital consumer behaviour amidst global pandemic lockdown situation

Fatfish Group Limited ( “ FFG ” or the “ Company ”) is pleased to provide an operation update on Fatberry Sdn Bhd (“ Fatberry ”), a fast growing direct-to-consumer (B2C) digital insurance platform based in Malaysia. FFG has approximately 53.4% stake in Fatberry, via its listed Swedish subsidiary Abelco Investment Group AB.

Fatberry is a Malaysian incorporated company that operates Fatberry.com, a leading consumer insurance digital marketplace that allow consumers to easily compare, customise and purchase insurance products online.

Fatberry spent the first 2 years of its operation operating commercial-ready trial services, in addition to developing its technology and partnership with insurers. Since then, it has gone on to launch its full commercial services in April 2020.

Unprecedented Monthly Revenue Growth

Fatberry currently partners with 11 insurers in Malaysia to offer a wide choice of insurance products to consumers via its digital insurance marketplace.

Over the past its 6 months, Fatberry has recorded signifant traction, growing its revenue by almost 100% every month, since July 2020.

1

Fatfish Group Limited (ACN 004 080 460) Level 4, 91 William Street Melbourne VIC 3000 Australia

==> picture [94 x 93] intentionally omitted <==

www.fatfish.co

In December 2020, Fatberry recorded monthly revenue of RM209,284 (A$66,677).

For the current month of January 2021, Fatberry has currently already achieved revenues equivalent to 180% of its December 2020 revenues , with 7 more days to go before month end. This month’s figures continue to assert the month-on-month revenue growth trend.

==> picture [445 x 165] intentionally omitted <==

----- Start of picture text ----- Fatberry Monthly RevenueRM 240,000209,284RM 200,000RM 160,000RM 120,00090,259RM 80,00044,850RM 40,000 14,428 23,0645,754RM 0Jul 2020 Aug 2020 Sep 2020 Oct 2020 Nov 2020 Dec 2020----- End of picture text -----

The management of Fatberry attributes this unprecedented revenue growth-trend to accelerated digital consumer behaviour due to the global COVID-19 lockdown situation.

Powered by AI Technology, Ready for Continuous Growth

Fatberry has used AI enabled platform to help more than 50,000 consumers compare and choose the best insurance product suited for their needs. Fatberry’s target audience are digital savvy consumers, typically millennials and young adults, representing a segment of the consumers that are very attractive to insurers as these group of consumers have much longer lifetime value of consumerism.

This announcement has been authorised by the Board of Directors of FFG.

– End –

About Fatfish Group Limited

Fatfish Group Limited ( ASX: FFG ) is a publicly traded tech venture firm with investments in the Southeast Asia and Nordic European region. FFG partners with

2

Fatfish Group Limited (ACN 004 080 460) Level 4, 91 William Street Melbourne VIC 3000 Australia

==> picture [94 x 93] intentionally omitted <==

www.fatfish.co

entrepreneurs to build tech businesses via a co-entrepreneurship model. FFG focuses on emerging global technology trends, specifically FFG has been investing strategically across various sectors of video-games, esports, fintech and consumer internet technologies.

FFG owns a majority stake in publicly-traded Abelco Investment Group AB ( NGM: ABIG ), which is traded on the Swedish exchange, Nordic Growth Market.

FFG and Abelco operate from innovation hubs located in Singapore, Kuala Lumpur and Stockholm.

For more details, please contact:

ir@fatfish.co or visit www.fatfish.co

3