Ann: To acquire nWay developer of Power Rangers Legacy Wars, page-2

Animoca Brands to acquire nWay, developer and publisher of POWER RANGERS: Legacy Wars

Highlights:

● Animoca Brands to acquire nWay, Inc. (“nWay”) for US$7.69 million (approx. A$11.4
million) of which US$1.94 million (approx. A$2.9 million) is in cash and US$5.75 million
(approx. A$8.5 million) in shares

● Share consideration will be based on a price per share of the higher of A$0.18 or the
30-day VWAP as of the effective date

● Cash consideration includes US$250,000 (approx. A$369,000) to the Sellers and a
US$1.69 million (approx. A$2.5 million) cash investment into nWay for operating
purposes

● nWay is a game developer and publisher of high-quality AAA games on console, PC,
and mobile platforms

● nWay revenue (unaudited) in the first 8 months of 2019 was US$6.98 million (approx.
A$10.2 million) with EBITDA loss of US$1.3m (approx. A$1.88m)

● nWay has a global license granted by Lionsgate and Hasbro to make use of the Power
Rangers brand, including in POWER RANGERS: Legacy Wars, nWay’s award winning mobile game with over 50 million downloads

● nWayPlay platform (in development) will provide developers with complete backend
and fully managed live-ops services to quickly develop and operate competitive
multiplayer cross-platform games (currently available to alpha partners)

● nWay developers and executives have worked at major technology companies
including Google, Tencent, Sony, Electronic Arts, Nintendo, LucasArts, Blizzard,
Kabam, Nexon, and NCSoft; the current management will continue to operate nWay

● Acquisition adds nWay’s portfolio of games, experienced team, a powerful suite of
technologies, and a platform to enter the rapidly growing competitive multiplayer
gaming space.

● To fund the Acquisition and other opportunities, Animoca Brands has entered into
unsecured 12-month loan agreements for a total of A$2.5 million, with attached 12-
month options, from sophisticated investors connected to the Company (see “Loan
funding” section for details)

Great. So can we resume trading now?