STREAMPLAY STUDIO LIMITED — Capital/Financing Update 2023

Feb 5, 2023

ASX Release 6 February 2023

Streamplay Market Update: Streamplay Pacific

HIGHLIGHTS

• First full month trading of new Streamplay Studios division: Streamplay Pacific
• Streamplay Pacific generates over A$200,000 in top line revenue during January 2023
• Approximately 300,000 subscribers to various product subscriptions, including popular mJams music streaming app
• Revenue growth observed in Solomon Islands with 20% month-on-month increase
• Sharp growth observed in revenue in Papua New Guinea, generating nearly A$70,000 from four subscription products
• Consistent performance across subscription services in American Samoa and Tonga
• mJams music streaming platform a hub for local music and content creators boasting the largest collection of local Pacific music and videos in the world
• Company successfully begins cross pollination of all products within the group of companies (the 'Streamplay Group') with Streamplay's ArcadeX casual gaming platform to be launched next quarter in the Pacific Island markets branded as 'mGames'

Streamplay Studio Limited ("Streamplay" or the "Company") (ASX:SP8), a leading provider of competitive casual gaming and eSports technology, music streaming services, and telco value-added services, is pleased to announce an update on the performance of its newly acquired Pacific focussed division Streamplay Pacific.

Streamplay Pacific provides several profitable and revenue-generating services focussed on the Pacific Islands region via agreements with various Mobile Network Operators ("MNOs"). (Telikom PNG, Our Telekom Solomon Islands, uCall Tonga and Bluesky American Samoa).

Strong revenue generation from new markets

Streamplay Pacific has delivered a strong start to the calendar 2023 year generating topline revenue of over A$200,000 in the month of January 2023, across its 3 key markets: Papua New Guinea, Solomon Islands and (combined) American Samoa and Tonga. This performance highlights the potential of these markets and their need for compelling mobile product offerings. The Company expects to bank ~50% of topline revenue after revenue shares with MNO partners.

Prior to its acquisition, the Pacific business offered a range of ~30 product subscriptions including SMS games, an On-Deck Portal delivering localised content, and the popular mJams Music streaming app returning stable revenues. The offerings have been enjoyed by a growing user base of over 300,000 subscribers, demonstrating the strong demand for highquality and diverse digital content.

Following the acquisition by Streamplay Studios, Streamplay Pacific has also had the opportunity to introduce the ArcadeX casual gaming platform, branded as mGames.

Overall, the Company has made a concerted effort to expand its product offerings and improve customer engagement, and the revenue figures for January 2023 are an early indication of the successful execution of these strategies.

Commenting on the results, CEO of Streamplay Pacific Todd Emmanuelli said:

"The Pacific team is thrilled with the start of the year and is eager to continue driving growth and delivering value to its stakeholders. The company remains focused on its mission to provide innovative solutions and exceptional customer service, and the results from January serve as a testament to the Pacific team's hard work and dedication.

The Company's existing products in the Pacific continue to be well received by users. mJams music in particular has become a favourite among subscribers, with its wide selection of local indigenous music and video content that can be streamed on demand. Added to this suite is the new iteration of mGames which will help drive growth."

Streamplay Pacific's markets and product offerings are outlined below.

Markets: Solomon Islands MNO Partner: Our Telekom

The Streamplay Pacific business has historically operated in the Solomon Islands since 2014 (~10 years) and in this regard is a well-established VAS provider.

During January 2023, Streamplay Pacific subscriptions in the Solomon Islands experienced a 20% month-on-month increase in revenue. Although there is a seasonality component to this increase, the hiring of a local team member on the ground to work directly with the MNO partner Our Telekom has had a clear impact. This local hiring was made possible by the financial strength of the combined Streamplay group. A steady growth pattern in subscriptions and revenue is anticipated for the remainder of the quarter.

Papua New Guinea MNO Partner: Telikom

Papua New Guinea is a new market for Streamplay Pacific and partner Telikom and brings Streamplay Pacific back into the biggest market in the Pacific. With 400,000 subscribers on the local network, Streamplay Pacific will look to drive a substantial uptake in this comparatively larger market. Leveraging previous operating experience in PNG, the team's strategy has been refined and is showcased in the results demonstrated in a short period of time.

The introduction of subscription services has led to significant and sharp growth in revenue, with January generating nearly A$70,000 in top-line revenue from just four subscription products. The Company has a 12-month roadmap to introduce its full range of subscription services, which promises to deliver long-term revenue for the Group.

American Samoa and Tonga MNO Partner: Bluesky American Samoa

Subscription services in American Samoa and Tonga continue to perform consistently across the board with the driving product being a monthly service called SMS Games, a text response service players join to compete in monthly competitions for major cash giveaways.

Products: mJams Pacific

mJams music is a hub/platform that local music and content creators across the Pacific Island can call their own, with a heavy focus on preserving Local Island music.

With over 1,600 artists promoting their music and some of the biggest artists not just in the Pacific but in the world of Reggae such as DMP, Jaro Local and Sean Rii, mJams now boasts the largest collection of local Pacific music and videos in the world hosting over 15,000 tracks of music and video content ensuring subscribers always have new and exciting artists to discover and support.

mJams continues to support and pioneer the growth of the Pacific music scene and communities by paying local artists in streaming royalties as their content is distributed and enjoyed.

mJams Pacific continues to see robust growth in all markets, particularly in The Solomon Islands through its partnership with Our Telekom. This growth highlights the popularity of mJams Music in the Pacific region, and the Company is committed to expanding its reach even further.

Streamplay Pacific is confident in the ability of mJams Pacific to maintain its growth trajectory and enhance its offerings. As a result of its continued success, the platform is actively seeking new territories to expand into, while also observing growth in established markets.

In January 2023, the Company partnered with the Australian High Commission in the Solomon Islands to use its product for live-streaming concerts. This collaboration is a key development for Streamplay as it looks to foster strong working relationships with Australian Government bodies throughout the Pacific region.

To further improve mJams take up, a new and refreshed layout will shortly be introduced, providing subscribers with a range of new features to better explore their local content needs. This new layout will make it even easier for subscribers to access their favourite music and discover new local artists.

Via mJams Pacific, Streamplay Pacific is dedicated to providing its subscribers with the best music streaming experience possible and, more importantly, driving change and creating opportunities for Indigenous artists to break out. The Company is confident in its ability to continue to grow and succeed in the Pacific region.

mGames

mGames represents the first cross pollination of products in the combined Streamplay Group with the rebranding of its popular and successful ArcadeX casual gaming and tournament platform. Currently, live in South Africa with partner MTN, this introduction marks the arrival of a new era in gaming for both existing mGames subscribers and the Pacific market as a whole.

ArcadeX front-end rebrand to mGames.

With mGames, subscribers will be able to participate in exciting skills-based tournaments, compete on active leaderboards, view player profiles, and engage in head-to-head gameplay.

These new features will keep players engaged and entertained for hours on end with the added value of winning prizes for achieving top spots in leaderboards.

Over the next quarter, Streamplay Pacific is introducing this service across all existing markets in the Pacific, including The Solomon Islands, Papua New Guinea, Tonga, and American Samoa. Streamplay Pacific's telco partners are involved in the process and are eager to bring this improved service to their customers.

The Company is excited to bring this new level of competitive gaming to Pacific subscribers as a compliment to its existing SMS gaming and music streaming services. With its innovative features and seamless integration with telco partners, mGames is poised to become the goto social gaming platform for casual gamers in the Pacific region.

Go to market Strategy

The Company's Go To Market ('GTM') strategy is robust and covers all products and services currently offered by Streamplay Pacific to be able to deliver a range of content across all mediums such as Social Media, TV, Radio, Newspaper and the more generic telco marketing being broadcasts and USSD advertising. The strategy focuses heavily on a localised approach ensuring the content delivered is favoured by the potential subscribers from daily subscription services such as weather, to the popular indigenous music streaming platform mJams.

This allows the Company to explore a range of local partnerships and activations as the content and products delivered continue to be localised.

Streamplay has three GTM strategies for its products and technology: -

• B2B2C partnerships with MNOs
• B2C business model leveraging direct selling by consumers
• B2B distribution partnerships

Streamplay continues to explore opportunities to diversify its offerings, revenue streams and expand its footprint geographically into new regions.

Growth outlook

The Company is actively seeking new growth opportunities in the Pacific region. Streamplay believes that this region offers a wealth of untapped potential and social licence and the team are committed to expanding the Company's reach and market presence.

Over the past few months, the management team have commenced discussions exploring partnerships and content offerings with a number of new MNOs and VAS providers in the Pacific and MENA region.

The Pacific region is part of Streamplay's broader strategy to diversify its business and expand into new markets. The Company anticipates that this will bring a range of benefits for all shareholders and stakeholders, including increased revenue and market share, as well as a wider customer base and opportunities for growth.

Commenting on the result, Streamplay Studio Chair Bert Mondello added:

"On behalf of the Company we are pleased that the acquisition has been completed and the transition was conducted smoothly. The migration and integration of systems and personnel was done seamlessly. The synergies between the two businesses have been recognised and already yielding profits. We are especially pleased with the financial performance, look forward to exploring newly formed partnerships and growing the Streamplay offerings into new telcos and geographical regions."

For further information:

Investor relations:

E: info@Streamplay.studio P: +61 2 9680 8777

About Streamplay Studio

Streamplay Studio Limited (ASX:SP8) is a leading provider of competitive casual gaming and eSports technology, music streaming services, and telco value-added services. The company offers a diverse range of entertainment solutions for its users, including the ability to stream and play games, music, and access various telco services all in one place. Streamplay continues to innovate and expand its offerings to meet the ever-changing needs of its partners and customers.

More information: www.Streamplay.studio

Forward-looking Statements

This Announcement may contain forward-looking statements. Any forward-looking statements contained in this document are not guarantees of future performance. Such statements involve known and unknown risks, uncertainties and other factors, many of which are beyond the control of the Company. Readers should not place undue reliance upon any forward-looking statements and the Company disclaims any responsibility for any reader who does so. All numbers presented in this Announcement are unaudited.

ASX release authorised by the Board of Directors of Streamplay Studio Limited