STREAMPLAY STUDIO LIMITED — Capital/Financing Update 2022

Jul 31, 2022

ASX:EM1 | ABN 31 004 766 376

ASX RELEASE

1 August 2022

Emerge partners with MTN to launch Esports initiatives

Highlights:

• Emerge partners with MTN to launch Esports initiatives in South Africa
• Esports initiatives to promote subscriber acquisition for MTN Arena and MTN Arena 5G
• Emerge to earn revenue of ~A$300,000 from MTN

Emerge Gaming Limited (ASX: EM1) ("Emerge" or the "Company"), is pleased to advise that it has entered into an agreement with MTN to launch MTN themed Esports initiatives.

Esports initiatives

The Esports initiatives will include execution of an 'MTN Arena Cup' event, including related online digital and competition platform executions, physical executions and activations, mini cup tournaments and promotion at South Africa's award-winning go-to mega event for video gaming, technology, esports, geek culture and digital entertainment – rAge Expo 2022 (rageexpo.co.za).

The promotion, marketing, activations and engagement resulting from the MTN Arena Cup is intended to increase the reach for subscriber acquisition on the Emerge operated MTN Arena 5G (Competitive Cloud Streamed Premium) and MTN Arena (Competitive Casual and Social Gaming) platforms.

Terms of Agreement

Under the agreement, which commences immediately with a 12-month term, Emerge has partnered with MTN as the primary 'Service Provider' for the execution of the Esports initiatives set out above. For the provision of these services Emerge will receive ~$A300,000 (ZAR 3.5M) in revenue from MTN based on a budget and execution plan to be agreed with MTN. The funds will be used for execution of activations, platform operating costs, marketing, travel, logistics, prizes and other ancillary costs to ensure that the Esports initiatives are executed to a high standard.

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).

On the MTN Arena 5G platform game streaming subscribers will redeem 'play tokens' for entries into tournaments offering custom designed competitive premium games that are streamed through a browser launch web application.

Tournaments will offer streamed games with up to 3 minutes game play (multiple play tokens may be required for extended play beyond 3 minutes) and players will be ranked by high score in the tournament leader boards with the opportunity to win enticing rewards and prizes.

ASX:EM1 | ABN 31 004 766 376

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

Development of these bespoke games are a key focus 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 3 games produced by Emerge's Game Studio.

MTN Arena

MTN Arena is a competitive casual and social gaming platform operated by Emerge gaming using its proprietary platform technology that went live in July 2020 (ASX: 8 July 2020). On this platform subscribers can enter competitions and tournaments involving entertaining casual games titles with the opportunity to win prizes and rewards.

Emerge will launch newly developed technology platform enhancements in its MTN Arena platform that has acquired in excess of 1,000,000 subscribers since launch, representing 3% of MTN South Africa's 33 million mobile subscribers.

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.

About rAge Expo 2022

rAge is South Africa's longest running video gaming, technology, esports, geek culture and digital entertainment exhibition, which is held annually in Johannesburg. rAge Expo 2022 will take place over three days from 9 – 11 December at Gallagher Convention Centre, Midrand, Gauteng.

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