FORTIFAI LTD — Capital/Financing Update 2023

Aug 24, 2023

ASX Announcement 25 August 2023

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----- Start of picture text ----- ASX CODE: MKLCAPITAL STRUCTUREShare Price (24/08/23) $0.021Shares on Issue (m) 381.7mMarket Cap $8mMAJOR SHAREHOLDERSGamestar Studios 32.0%Phil Mayes 14.5%Phoenix Portfolios 6.66%BOARD & MANAGEMENTMichelle GuthrieChairIan HoggNon-Executive DirectorMelanie FletcherNon-Executive DirectorDavid ButoracNon-Executive DirectorShane YeendChief Executive OfficerSimon RabbittChief Financial OfficerChief Operations OfficerKaitlin SmithCompany SecretaryCONTACTT : +61 8 7200 3252E : hello@mightykingdom.comW : www.mightykingdom.comA : Lv4, 121 King William StAdelaide SA 5000P: PO Box 3106Rundle Mall SA 5000AustraliaACN: 627 145 260----- End of picture text -----

MKL Secures Debt Facility with Radium Capital for $1.253m

Highlights

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MKL establishes loan facility with Radium Capital to secure immediate access to approximately $1.253m of the Company’s FY23 R&D tax incentive ;

August 25, 2023 – Mighty Kingdom Limited (“ MKL ” or the “ Company ”) Is pleased to advise the establishment of a loan facility with Radium Capital.

Radium Capital ("Radium") Is a Research and Development (R&D) finance provider offering strategic capital by way of early access to R&D refunds secured against the ATO rebate, reducing the need for dilutionary equity.

MKL has received an upfront payment of $1,253,908 representing 80% of the expected R&D tax Incentive for FY23. The loan is secured by a security agreement on MKL’s FY23 R&D tax refund from the ATO. The loan will accrue interest at an annual Interest rate of 16% and repayment is timed to coincide with the receipt of the Company’s 2023 R&D Tax refund, expected by 31 December 2023.

This facility provides for financial security as the Company awaits settlement of Gamestar+’s tranche 2 funds as referred to in the Company’s Q4 FY23 Quarterly Activities Update announced to the market on 31 July 2023.

This announcement has been authorised for release by the Board of Mighty Kingdom Limited.

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Mighty Kingdom Limited (ASX: MKL)

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For further information, please contact

Shane Yeend Duncan Gordon Chief Executive Officer Investor Relations Mighty Kingdom Limited T: +61 404 006 444 T: +61 8 7200 3252 E: hello@mightykingdom.com

ABOUT MIGHTY KINGDOM LIMITED

Since its formation in 2010, Mighty Kingdom has released over 50 games that have been downloaded more than 50 million times. These games include the popular Shopkins, LEGO Friends: Heartlake Rush, Gabby’s Dollhouse, Wild Life and Ava’s Manor. Mighty Kingdom is one of the largest independent game developers in Australia, working with top tier entertainment and gaming companies including Disney, LEGO, Sony, Funcom, Rogue, and Snapchat. A team of experienced developers with significant experience across mobile and console platforms supports its clients to develop high-quality, successful games whilst driving Mighty Kingdom’s internal IP development.

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Mighty Kingdom Limited (ASX: MKL)