STREAMPLAY STUDIO LIMITED — Capital/Financing Update 2022

Aug 2, 2022

ASX RELEASE

ASX:EM1 | ABN 31 004 766 376

3 August 2022

MTN invests in Emerge's Game Studio

Highlights:

• MTN to invest ~A$210k with Emerge's Game Studio
• Emerge to deliver 3 premium MTN branded games for use on MTN Arena 5G
• Emerge Game Studio developing premium games in Unity and Unreal

Emerge Gaming Limited (ASX: EM1) ("Emerge" or the "Company"), is pleased to advise that it has entered into an agreement with MTN to invest R2,400,000 (~A$210,000) into premium games content and game streaming platform development.

This investment by MTN into Emerge's Game Studio and the previously reported investment into the marketing and promotion for the benefit of the Emerge operated MTN Arena and MTN Arena 5G services (ASX: 1 August 2022) is testament to MTN's confidence in the potential of Emerge's content service offerings.

Terms of Agreement

Under the agreement, which commences immediately, Emerge will initiate development for enhanced in-platform Esports tournaments, three premium MTN branded games, as well as the development of 5G game streaming capabilities to be delivered before 31 December 2022.

The agreement states that MTN will invest a once off fee of R2,400,000 (~A$210,000) for the technical integration and development of the new content and services to be made available on MTN Arena or MTN Arena 5G, and this is to be revenue to Emerge. Payment of the ~A$210,000, or any portion thereof, is to occur on approval and acceptance of the production items.

MTN will retain a copy of the three premium MTN branded games.

Emerge Game Studio

As previously reported, Emerge launched a game studio consisting of inhouse and outsourced game developers. The game studio works side by side with Emerge's game streaming platform developers to develop and produce proprietary libraries of short form AAA quality premium games using the Unity and Unreal game engines. These game engines enable the delivery of cutting-edge content, interactive experiences and immersive virtual worlds. The Emerge Game Studio is striving to leverage the tools in these engines as it develops and produces further competition ready games in its development roadmap.

Development of these bespoke games are a key plank in delivering competition ready premium gaming content for cloud streamed use and commercialisation on Emerge's tournament platforms. MTN Arena 5G will be launched with a minimum of 3 games produced by Emerge's Game Studio. With this agreement, assuming timelines are met, this development will now be subsidised by MTN.

MTN Arena 5G

MTN Arena 5G is a new game streaming service to be offered as a new feature of the existing MTN Arena platform. Emerge previously announced the planned launch of this service is scheduled for calendar Q4 2022 (ASX: 20 June 2022).

Games content on MTN Arena 5G will be selected from Emerge's Game Studio growing proprietary libraries.

Further information:

E: info@emergegaming.com.au P: + 61 2 9680 8777

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

Formed 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.

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