PLAYSIDE STUDIOS LIMITED — Capital/Financing Update 2023

Dec 13, 2023

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Agreement with Warner Bros. Interactive Entertainment for multi-game license

PlaySide Studios Limited (ASX: PLY) (“PlaySide”) is pleased to announce the signing of a multi-game license agreement with Warner Bros. Interactive Entertainment, a subsidiary of Warner Bros. Discovery, Inc.

Warner Bros. Interactive Entertainment has agreed to provide PlaySide with a highly recognisable intellectual property under license for the purpose of developing two PC/Console game titles. Development times are consistent with our prior commentary^ regarding title development for licensed IP on PC/Console.

Development on the first title will commence immediately and a joint announcement concerning the details of both the intellectual property and game will be released in the first half of calendar 2024.

As part of the agreement, PlaySide will pay Warner Bros. Interactive Entertainment several license payments during the development phase of the title, followed by a royalty based on revenue derived from the games during the term of the agreement. The term of the agreement expires five years after the release of the second title.

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This agreement is a groundbreaking moment for PlaySide, the culmination of years of effort building relationships with Hollywood studios and investing in our PC and Console development expertise. It is also consistent with our plans to develop larger titles.

We are huge fans of the IP we are working with and are thrilled to be entrusted with the task of bringing it to life for other fans. We are proud to be partnering with Warner Bros. Interactive Entertainment, which has a longstanding history of supporting the extension of its franchises such as Batman into video games and has enjoyed recent success with the likes of Hogwart’s Legacy. I look forward to sharing more details with you soon.

GERRY SAKKAS, PLAYSIDE CEO

^ refer Half Year Investor Presentation dated 27 February 2023

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PlaySide Studios AUSTRALIA'S LARGEST VIDEO GAME DEVELOPER AND PUBLISHING STUDIO

PlaySide Studios Limited ("PlaySide") develops video games for multiple platforms including mobile, PC/Console, virtual reality and mixed reality, with a portfolio of approximately 60 titles. The Company publishes its own games based on original intellectual property, as well as providing end-to-end game development services in collaboration with AAA game studios and major technology and entertainment companies such as Activision Blizzard, Meta, Netflix Games and Take Two Interactive. It also has a Publishing arm which provides funding, development support, marketing and publishing of third-party games from smaller independent studios.

PlaySide was incorporated in 2011 and is headquartered in Port Melbourne, Australia. Its shares are publicly traded on the Australian Stock Exchange under the code PLY.

Warner Bros. Interactive Entertainment

A DIVISION OF WARNER BROS. DISCOVERY, INC.

Warner Bros. Interactive Entertainment is a premier worldwide publisher, developer, licensor and distributor of entertainment content for the interactive space across all platforms, including console, handheld, mobile and PCbased gaming for both internal and third-party game titles.

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