PLAYSIDE STUDIOS LIMITED — Capital/Financing Update 2021

May 6, 2021

PLAYSIDE STUDIOS AND PARAMOUNT PICTURES SIGN LICENSE AGREEMENT FOR "THE GODFATHER"

KEY HIGHLIGHTS

• • PlaySide to license, develop and publish The Godfather mobile video game.
• • The Godfather license with Paramount Pictures is the second license agreement with a top 5 Hollywood movie studio this year, adding to the Legally Blonde license with MGM.
• • The license provides for a multi-year, global and profit-sharing arrangement across iOS and Android devices.

Summary

PlaySide Studios Limited (ASX: PLY) ("PlaySide"), Australia's largest publicly listed video games developer, is pleased to announce it has signed a mobile platform games license agreement with ViacomCBS on behalf of Paramount Pictures Corporation to develop and publish a mobile video game based on the feature film The Godfather.

Growing pipeline of globally recognised brand licenses

The Godfather agreement is the second blockbuster movie license to be signed with a top 5 Hollywood studio this year and validates PlaySide's IP license strategy where it takes end-to-end ownership of the development, marketing, and management of a growing portfolio of globally recognised brands.

The Godfather is the first of three American crime films directed by Francis Ford Coppola and inspired by the 1969 novel of the same name by Italian American author Mario Puzo.

The Godfather is distributed by Paramount Pictures and was released in 1972. The movie continues to have a cult following where quotes, memes and catchphrases remain part of modern-day vernacular. The film achieved outstanding success at the box office, earning more than US$285 million worldwide, which made it the highestgrossing film from that year and, at one time, the highest-grossing film in history.

PlaySide's CEO Gerry Sakkas said "The Godfather is the quintessential crime movie and to be able to secure this license is testament to the highly respected brand we have built over the past nine years. To be trusted with this license, PlaySide has again demonstrated the confidence leading global movie studios have in us to deliver a high-quality product. As an avid Godfather fan, I am eager to show the world a true Godfather experience on mobile that we believe will appeal to audiences across multiple generations, we look forward to making fans an "offer they can't refuse"."

PlaySide Studios Limited ASX ANNOUNCEMENT - 7TH MAY 2021

Agreement Structure

The multi-year agreement will provide PlaySide with a license to incorporate the movie themes and branding from The Godfather into a mobile title that PlaySide will develop. Under the multiyear agreement, PlaySide is responsible for development of the title that will incorporate The Godfather intellectual property and is responsible for publishing the title globally on both iOS and Android mobile platforms. In addition, PlaySide has limited exclusive rights on the genre of game for mobile platforms during the term of the agreement. The game will be free-to-play on iOS and Android mobile devices and will combine idle game play mechanics with themes and messaging from The Godfather brand.

The financial terms of the agreement comprise several license payments to be made by PlaySide during the development phase of the title followed by a profit-sharing agreement between the parties' post release of the game and for the duration of the agreement.

Additional Information

PlaySide's collaboration with Paramount on the Godfather marks another significant milestone in the company's history as it represents the second major studio license after MGM's Legally Blonde that was announced in March 2021. These two "core" mobile titles will be a key focus for PlaySide over the course of 2021 as the Company seeks to develop world class games befitting these iconic movies.

Further details are planned to be released in late 2021 relating to the anticipated launch date of the mobile title.

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 Enquiries

Warrick Lace

warrick.lace@reachmarkets.com.au

0404 656 408

For more information contact info@playsidestudios.com

PlaySide Studios Limited ASX ANNOUNCEMENT - 7TH MAY 2021

Gerry Sakkas Cris Nicolli

Managing Director & CEO Chairman

About PlaySide Studios

PlaySide Studios Limited

ACN 154 789 554

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, Paramount and Nickelodeon. The company's portfolio consists of 55 titles that are delivered across 4 platforms, which include mobile, virtual reality, augmented reality, and PC. The company was incorporated in 2011 and is headquartered in Port Melbourne, Australia.

About ViacomCBS

ViacomCBS (NASDAQ: VIAC; VIACA) is a leading global media and entertainment company that creates premium content and experiences for audiences worldwide. Driven by iconic consumer brands, its portfolio includes CBS, Showtime Networks, Paramount Pictures, Nickelodeon, MTV, Comedy Central, BET, CBS All Access, Pluto TV and Simon & Schuster, among others. The company delivers the largest share of the U.S. television audience and boasts one of the industry's most important and extensive libraries of TV and film titles. In addition to offering innovative streaming services and digital video products, ViacomCBS provides powerful capabilities in production, distribution and advertising solutions for partners on five continents. For more information about ViacomCBS, please visit www.viacomcbs.com and follow @ViacomCBS on social platforms.