PLAYSIDE STUDIOS LIMITED — Capital/Financing Update 2021

Nov 30, 2021

ASX ANNOUNCEMENT – 1 DECEMBER 2021

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PLAYSIDE PARTNERS WITH PREMIER GAMING INFLUENCERS (“ONE TRUE KING”)

HIGHLIGHTS

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Playside Studios has partnered with premier US based influencer network, gaming and production organisation One True King (OTK) who have a combined total reach that exceeds 21 million globally.

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The strategic partnership agreement with OTK is in the form of a co-development contract for a new multiplayer PC based title with a planned release date in Q2 FY23.

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The contract with OTK will be a fixed-price, milestone-based development with a material revenue share model post launch. OTK will market the title to its large and rapidly growing global audience via its various social platforms.

PlaySide CEO Gerry Sakkas said:

“We are excited to collaborate with reputable gaming influencer organisation OTK which consists of some of the biggest streamers in the world and has a total reach of over 21 million followers worldwide.”

“We are continually working to expand our presence within the industry via unique partnerships. This codevelopment opportunity with OTK – our third since listing – allows us to further leverage the PlaySide brand and reinforces our position as Australia’s leading publicly listed gaming developer.”

1.

Summary

PlaySide Studios Limited (ASX: PLY) (“PlaySide”), Australia’s largest publicly listed video games developer, is pleased to announce it was selected by US based gaming influencer and content creation organisation OTK to co-develop an upcoming version of a multiplayer PC based title. The contract is a fixed-price milestone-based development with a material revenue share upon global launch. As part of the agreement OTK will market the title to its global audiences via various social platforms. The title is planned to be launched in 2Q FY23 on both PC and Mac.

Under the agreement, Playside is responsible for all development services including design, production, programming, user interface and experience, and publishing as part of the co-development. OTK is responsible for approving all elements to ensure they are depicted in a manner consistent with the integrity and artistic representation of OTK and its clients. The parties will share the advertising costs in the same ratio as the profit share and OTK is responsible for marketing the title to its audience via its various social media platforms.

ASX ANNOUNCEMENT - 1 DECEMBER 2021

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2.

Partnership Strategy

PlaySide continues to focus on strategic partnerships with gaming organisations that have global scale, reach and tailored audiences. This new generation of gaming and content creation organisations focus on authentic relationships with their audiences which create a real connection that resonates with gaming fans globally. In addition, the focus when partnering is to find alignment on strategic objectives with partners that share a common vision with PlaySide. This will be PlaySide’s third strategic partnership since listing as it continues to diversify its portfolio of game genres, platforms, and routes to market.

Consistent with previous partnerships the monetisation strategy is via a fixed-price, milestone-based development contract, followed by a material revenue share post title launch. This model reflects the talents and skills each party brings to the partnership whilst also strongly incentivising high performance for mutual reward.

One True King (OTK)

OTK Network is a premier US based influencer network, gaming and production organisation with a total reach of over 21 million followers worldwide and was created in 2020 by some of the world’s biggest streamers including Asmongold, Mizkif, and Esfand who have a combined following of 9.4 million subscribers. In 2021, OTK has accumulated a total of 15 billion minutes watched, 10 million unique chat engagements, 1.1 billion views and growth of 420% of hours watched in the last 6 months.

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OTK connects other brands directly to their audiences through community-centric influencers and events. This is achieved via customised ad initiatives, as well as creative and authentic messaging that appeals to OTK’s millennial and Gen Z audiences globally which in turn drives exponential exposure for these brands.

ASX ANNOUNCEMENT - 1 DECEMBER 2021

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The organisation is a collection of talented artists that includes gamers, traditional sports & esports broadcasters, content and variety streamers.

Release approved by the Chairman on behalf of the board.

To receive business updates and investor information from PlaySide register your details here: https://playside.investorportal.com.au

Investor Relations

Simon Hinsley simon@nwrcommunications.com.au +61 401 809 653

For more information contact info@playsidestudios.com

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Gerry Sakkas Cris Nicolli Managing Director & CEO Chairman

About PlaySide Studios

PlaySide Studios Limited is Australia’s largest publicly listed video game developer. It provides titles in a range of categories, including self-published games based on original intellectual property and games developed in collaboration with studios, such as Disney, Pixar, Warner Bros, and Nickelodeon. The company’s portfolio consists of 50+ titles that are delivered across 4 platforms, which include mobile, virtual reality, augmented reality, and PC. The company was incorporated in 2011, listed on the Australian Securities Exchange in December 2020, and is headquartered in Port Melbourne, Australia.