STREAMPLAY STUDIO LIMITED — Capital/Financing Update 2020

Dec 15, 2020

ASX RELEASE

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16 December 2020

MTN Arena registers ~80,000 new subscribers

Highlights:

• The Emerge operated MTN Arena Platform has registered ~80,000 new subscribers since launch

• MTN Arena continues to grow its paying subscriber base and generates revenue daily

• Subscribers to MTN Arena pay R3 per day (~A$0.26c per day, equivalent to ~A$7.80 per month)

• Marketing of MTN Arena continues targeting the circa. 29 million MTN subscribers in South Africa

Emerge Gaming Limited (ASX: EM1) (“Emerge” or the “Company” ), the operator of online eSports and casual gaming competition and tournament platform technology, is pleased to provide an update on subscription to the Emerge operated, MTN Arena Platform (“MTN Arena” or the “Platform”).

MTN Arena Subscriber Update

Since launching in early July 2020, ~80,000 new subscribers have accessed MTN Arena. The Platform continues to acquire new registered subscribers and generate revenue on a daily basis.

MTN Arena’s ability to attract this significant level of interest demonstrates the Platform’s strong value proposition and offering as an appealing consumer product.

Emerge will continue to provide the market with updates on material changes in subscriber registrations as they are achieved.

Subscription Pricing and Value Proposition to Subscribers

MTN Arena generates revenue by billing a daily subscription fee against mobile subscriber accounts when they subscribe to the MTN Arena Platform.

Under Emerge’s agreement with MTN, MTN has committed to paying R100,000 per month in monthly prizes for the first 12 months of the Platform’s operation.

The value proposition is that subscribers will pay R3 per day (~A$0.26c per day, equivalent to ~A$7.80 per month) to enter into competitions involving their favourite mobile social games, earn rewards and win prizes to the value of R100,000 per month across the tournaments offered. Emerge earns 40% of net revenue.

MTN Arena’s tournaments include daily, weekly, weekend and monthly competitions with opportunities for gamers to enjoy mobile gaming whilst winning prizes and money. Grand prizes will encourage mobile gamers to engage for longer periods on the platform. This competition and prize content is the cornerstone of the marketing content.

For further information, please refer to the announcement of 23 June 2020.

Head Office Address: South African Office: Contact Us: 642 Newcastle Street, 3rd Floor, Edge Building Mail: info@emergegaming.com.au Leederville, 22 Somerset Road, Green Point Call: + 618 6380 2555 WA, 6007 Cape Town, 8005 Australia South Africa

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emergegaming.com.au

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MTN Arena Marketing Campaigns

The marketing of MTN Arena continues with paid media campaigns, (funded by MTN), dedicated to driving user adoption of the MTN Arena platform.

The platform is promoted through a series of targeted digital campaigns across multiple digital channels and bulk SMSs to promote MTN Arena targeting potential subscribers across its circa. 29 million subscribers in South Africa.

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These campaigns target the middle to low-income mass market promoting tournaments, competitions and prizes through key messaging, video and other digital content in the distribution channels.

The success of the MTN funded campaigns is demonstrated by the strong new subscriber adoption.

Casual Gaming Tournament Platform – MNO GTM Strategy

Emerge published an investor presentation (ASX: 23 September 2020) outlining Emerge’s products and Go-to-Market (“GTM”) strategy and communicating the approach to commercialising its Casual Gaming Tournament Platform technology as a product.

A pillar of the Company’s GTM strategy is to continue the expansion of its B2B2C commercial model in which it partners with multinational mobile network operators (“MNOs”), like MTN, to deliver to the consumer the Casual Gaming Tournament Platform technology as a branded product, like MTN Arena. The Company’s strategy is to enter into partnerships in which MNOs provide product marketing support and offer mobile subscription billing integration services.

Emerge continues discussions with multinational MNOs and other strategic partners in the pursuit of this GTM strategy. The Company seeks to further expand the MTN Arena offering into the 22 countries in which MTN operates to gain access to the MTN’s more than 250 million mobile subscribers, targeting the middle to low-income mass market through more affordable pricing and appealing prizes.

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For further information:

Australia

South Africa

Bert Mondello Gregory Stevens Chairman CEO E: bm@emergegaming.com.au E: greg@emergegaming.com.au P: +61 8 6380 2555 P: +27 72 420 4811

ASX release authorised by the Board of Directors of Emerge Gaming Limited.

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About Emerge Gaming

Emerge Gaming Limited (ASX:EM1) is a leading eSports and gaming technology company. Emerge Gaming owns and operates an online eSports and casual gaming tournament platform technology and lifestyle hub. Via this platform, casual, social and hardcore gamers can play hundreds of gaming titles against each other via their mobile, console or PC, earning rewards and winning prizes.

The platform uses its unique IP, advanced analytics tracking and proprietary algorithms to deliver an optimum tournament gaming experience for users while providing advertisers with the perfect vehicle for delivery of their messaging to a fully engaged audience.

More information: view www.emergegaming.com.au

About MTN

Launched in 1994, the MTN Group is a leading emerging markets operator with a clear vision to lead the delivery of a bold new digital world to our 250 million customers in 22 countries in Africa and the Middle East. MTN is inspired by its belief that everyone deserves the benefits of a modern connected life. The MTN Group is listed on the JSE Securities Exchange in South Africa under the share code “MTN”. MTN is pursuing its BRIGHT strategy with a major focus on growth in data, fintech and digital businesses.

Emerge Gaming and MTN signed an agreement to distribute, market and operate Emerge’s platform technology under the brand “MTN Arena” in South Africa (ASX: 23 June 2020).

More information: view arena.mtn.co.za