STREAMPLAY STUDIO LIMITED — Capital/Financing Update 2022

Apr 10, 2022

ASX:EM1 | ABN 31 004 766 376

ASX RELEASE

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11 April 2022

MTN Arena surpasses 1 million subscribers in South Africa

Highlights:

• MTN Arena surpasses 1 million new subscribers since launch in July 2020

• New platform subscribers increased by average of ~96,000 per month for the past 3 months

• Emerge has acquired ~ 3% of MTN South Africa’s 33 million mobile subscribers

• Emerge and MTN continue marketing activities in South Africa driving user acquisition

• Emerge continues engagement with other countries in the MTN Group to expand MTN Arena

Emerge Gaming Limited (ASX: EM1) (“Emerge” or the “Company” ), is pleased to advise that it has surpassed 1 million new subscribers on its MTN Arena platform operated in South Africa.

MTN Arena Performance

Since launch, MTN Arena has acquired more than 1 million new subscribers that represents ~3% of MTN South Africa’s ~33 million mobile subscribers. Currently more than 360,000 subscriptions are active (i.e. are billable).

New subscribers on the platform over the past 3 month increased at an average of ~96,000 per month.

This performance demonstrates that there is strong user demand for the MTN Arena offering.

Marketing Campaigns

MTN continues to invest into marketing the MTN Arena platform in South Africa beyond its contractual obligations.

In Emerge’s 2022 financial year to date, MTN has committed to accelerate marketing of the MTN Arena platform with a further ±A$500,000 in marketing spend over the 3-month period of Feb to April 2022 including sponsored prize pools, automated voice message re-engagement campaigns, short message service re-engagement campaigns, themed engagement campaigns, branded engagement campaigns, social marketing campaigns, MTN channel marketing, outdoor advertising and MTN in store marketing.

The objective of the MTN funded marketing campaigns is to accelerate growth in new subscribers and drive re-engagement of existing subscribers.

Telco Expansion Opportunities

Emerge has established itself as an experienced gaming company with proven technology and demonstrated marketing and content production capabilities. Emerge’s established prize distribution logistics and customer relations systems underpin its platform operations.

The results of the MTN Arena platform in South Africa provide the foundation for expansion of this commercial model to the remaining 18 countries where MTN services more than 270 million subscribers.

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Emerge Gaming Limited | ABN 31 004 766 376 | emergegaming.com.au | info@emergegaming.com.au | +61 2 9680 8777

ASX:EM1 | ABN 31 004 766 376

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Emerge’s strategy is to target countries in the MTN Group leveraging MTN Arena’s performance in South Africa. Initial engagement and meetings between MTN Group countries, MTN Group and Emerge have led to strong interest from MTN Group countries in launching both the MTN Arena platform and the soon to be launched game streaming technology.

The opportunity exists for Emerge and MTN to establish Africa’s biggest competitive online gaming platform and community and to be a first mover in launching AAA game streaming to mobile in Africa and the Middle East.

Value Proposition and Pricing

At R3 per day (±A$0.27c), or R90 per month (±A$6), Emerge has demonstrated the value proposition for its product evidenced by MTN Arena maintaining more than 360,000 active subscriptions.

The introduction and/or launch of platforms using Emerge’s newly developed platform technology and features will further support the value proposition to subscribers at a targeted monthly subscription price of US$6.

Emerge is exploring opportunities to introduce monthly subscription billing to higher income mobile subscribers supported by an improved value proposition of the new platform iteration to target stronger revenues per user under its medium to long term strategy. Approximately 6 million of MTN South Africa’s ~33 million mobile subscribers are post pay monthly subscribers.

Gregory Stevens, CEO of Emerge commented: “The achievement of 1 million new subscribers on MTN Arena is a great milestone. We are in the process of developing an exciting new iteration of our competitive social gaming platform with enhanced engagement, social, rewards and tournament functions. The Emerge team has been working diligently towards the launch of our exciting new platform and on the strategy that guides this launch, and in this regard, we look forward to updating the market shortly.”

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

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

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Emerge Gaming Limited | ABN 31 004 766 376 | emergegaming.com.au | info@emergegaming.com.au | +61 2 9680 8777