PLAYSIDE STUDIOS LIMITED — Capital/Financing Update 2022

Nov 21, 2022

ASX Announcement November 2022

Mixed Reality Game Development Partnership with Meta

PlaySide Studios Limited (ASX: PLY) (“PlaySide”) is pleased to announce the signing of a game development agreement with Meta Platforms Technologies, LLC (“Meta”).

Following a successful concept pitch, Meta has engaged PlaySide to design, develop and create a mixed reality interactive software product to be playable on its Quest suite of virtual reality devices.

PlaySide will receive payments for development of the game and will receive a share of net revenues from the game in perpetuity. The development payments will be received at agreed milestones which are consistent with industry benchmark requirements for progressing the game to launch. The agreement is effective immediately and work on the title is expected to commence in the current financial year.

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This deal marks the next evolution of our work in the studio, as we leverage our abilities to conceptualise and develop exciting games in a revenue-share arrangement with a leading global technology company.

Meta is bringing virtual reality and mixed reality into the mainstream with its Quest suite of products, and we are excited about the opportunity to demonstrate our domain expertise with this game.

GERRY SAKKAS, PLAYSIDE CEO

ASX Announcement November 2022

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PlaySide Studios

AUSTRALIA’S LARGEST PUBLICLY LISTED VIDEO GAME DEVELOPER

PlaySide Studios Limited provides titles in a range of categories, including self-published games based on original intellectual property and game development services in collaboration with studios such as Take-Two Interactive, Activision Blizzard, Meta, Disney, Pixar, Warner Bros, and Nickelodeon. The company’s portfolio consists of approximately 60 titles that are delivered across multiple platforms including mobile, virtual reality, augmented reality, and PC. The company was incorporated in 2011, is listed on the Australian Securities Exchange, and is headquartered in Port Melbourne, Australia.

ASX ANNOUNCEMENT NOVEMBER 2022

Release approved by the Chairman on behalf of the board.

To receive business updates and investor information from PlaySide register your details here: investor.playsidestudios.com

INVESTOR RELATIONS

Simon Hinsley

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

FURTHER CONTACT

For more information, please contact: info@playsidestudios.com

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Gerry Sakkas Managing Director & CEO

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Cris Nicolli Chairman