A Leading International Esports Business

PREPARED BY GFINITY NOVEMBER 2019 1 Gfinity Esports Key investment highlights

01 A leading international 02 Trusted independent esports business esports partner

03 Leverage and create 04 Revamped growth value with partners strategy delivering

2 Gfinity Esports Growth of esports, fuelled by digitisation mega trend

1972

1st official video 2011 game 2004 2018 competition - First FIFA Twitch founded Overwatch Spacewar 1997 Interactive World League media 1981 Quake’s Red Cup 2010 2014 rights $45m Annihilation, Twin Galaxies 2000+ entrants Growth of Multi- Twitch acquired formed – tracked player Online for $970m by top players Cyberathlete Battle Arena Amazon scores on Space Professional Dec ‘05 MOBA games Dec ‘15 Invaders & League founded 1,018m 3,366m internet internet users Donkey Kong users

Dec ‘95 March ‘19 16m internet 4,383m users internet

2000’s 2009 2019 1996 Explosion of 2012 1980 internet cafes Battle by the League of Inaugural Legends ePremier League Atari Space Bay, first major Gfinity launched Invaders Street Fighter Fnatic, Team 2010-12 founded 2017 Championship tournament Dignitas, Optic Gaming, SK Starcraft II, F1 esports first Telecom T1 and DOTA2, Counter full season TSM esports Strike launched teams founded

3 Gfinity Esports Large and growing global audience and market

2.2 BILLION 395 MILLION 737 $151 MILLION $1.80 BILLION 32% People globally who play Global number of players The number of major Prize money broke Projected Esports Global Esports revenue video games & enthusiasts in global Esports events $150 million mark for the revenue by 2022 increase during 2018 2018 in 2018 first time in 2018

m Dedicated esports fan growth USDm Prize money development USDm Esports revenue growth

645

600 580 180 2,200

2,000 518 151 500 150 1,800 454 1,790 347 1,600 1,566 72 1,340 395 316 400 120 112 1,400 285 335 1,200 823 1,096 253 93 300 90 1000 222 800 865 192 655 61 231 200 60 600 161 400 36 173 19 100 143 201 233 264 297 30 200 501 6 9 13 3 5 0 0 0 2017 2018 2019e 2020e 2021e 2022e 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2017 2018 2019e 2020e 2021e 2022e

Esports enthusiasts Occasional viewers Media Merch & Advertising Sponsorships Publisher rights tickets fee

4 Gfinity Esports Consumer always decides

Complex consumer landscape PLAY WATCH

• 900 million esports and competitive

gaming engaged consumers ATHLETE 4%

• Not a homogenous group ASPIRER 18% EXPOSURE TALK Proprietary solutions to generate long term sustainable value for the wider audience 900 Million WATCHER beyond smaller group of hardcore fans: 8% SOCIALISTA - insights led 49% CONTROLLER - targeted 21% - clear vision of behaviours and motivations MOBILE SPEND

MOTIVATION

*Consumer segmentation/definition proprietary to Gfinity

5 Gfinity Esports Gfinity uniquely positioned in fragmented esports ecosystem

In a world of co-dependency Gfinity’s value is unparalleled in creating compelling experiences for next generation of digital consumers Publishers

The fragmented ecosystem requires end-to-end esports solution to build large sustainable new revenue streams. Gfinity delivers this:

Publishers Media Media Sports Rights Esports platform and Access to proven esports Holders expertise that drives and entertainment formats engagement and engaging a young audience profitability

Sports Rights Holders Consumers

Solutions that future Ability to play, compete, be proof franchise, part of communities, and be connecting with valuable entertained by engaging and hard to reach content demographic Consumers Brands Brands

Solutions that deliver memorable experiences, connects to hard to reach younger consumers

6 Gfinity Esports What we do

What We Do Esports Solutions Creating long term, new business verticals in the virtual world

Strategic Client Management Our Approach Design; Develop; Deliver

Competitive Online/offline Live & ancillary Build community & Advisory What We Deliver Tournament gaming competitions content engagement services entertainment

Holistic solution Consumer Proprietary tech World class Long term value Our Difference Tribe development insights platform production creation

7 Gfinity Esports Opportunity - evolution of financial model

Service Provision Partnership Model Gfinity contracted to create solution. Business client monetises Gfinity and partners own/co-own, create IP. Monetise and share commercial rights

Rights Holders

Esports Solution Publishers Brands

Publishers Rights Brands Holders Esports Solution

Monetisation Of Esports Solutions

Media Rights Sponsorship Advertising Other Revenues

Tickets, merch, virtual items, subscription

8 Gfinity Esports FY 19 Operating Highlights

• Completed season 2 of Formula 1 Esports • Appointed tournament operator for inaugural Pro Series ePremier League programme - Contracted to deliver 3rd season of - Incremental services provided to a number of growing Pro-Series programme in 2019 clubs including Liverpool, Tottenham Hotspur - Appointed production partner for ‘Making and Chelsea an Esports Champion’ online TV Series* - Reappointed for second season of programme in 2019/20* • Partner to EA SPORTS™ for 5 events as part of FIFA 19 Global Series • Delivered all tournament operation services in respect of Forza Racing Championship global • Broadcast rights contract with Facebook esports programme and European leg of Halo and headline sponsorship with Dominos for Championship Series, on behalf of Microsoft Season 4 of Gfinity Elite series

• Delivered Europe’s largest ever Call of Duty • Engaged by Truxtun Capital to design and event from Copperbox arena in conjunction develop Esports programme to coincide with 2022 with Activision Blizzard FIFA World Cup

• Created Esports content series on behalf of • *Delivered celebrity-based Twitch Prime Crown HP Omen Cup on behalf of Amazon

• Engaged by IndyCar to provide strategic consultancy to develop an esports strategy

*Denotes 2019/20 activites

9 Gfinity Esports Step change in revenue and gross profit

Focus on strategic client management...... driving gross profit growth Community

Partner service delivery Owned content/ shared rights Consulting fees Community income

Service Delivery

£1.0m

+82% Owned Content

+82% 7.9m (£0.4m) 4.3m

Consultancy 2.7m (£3.4m)

FY17 FY18 FY19 Medium FY17 FY18 FY19 Medium Term Term

- Grown size and number of strategic clients -Leveraging our investments in people, products and technology -Deepened existing client relationships - Building Gfinity community -Delivering consultancy programmes for new partners -Focused deployment of resources to value add areas

Charts are for illustrative purposes only and not to scale 10 Gfinity Esports Leveraging scalable cost base Stable Opex

- Opex largely fixed as already invested in people, products and technology

- Costs broadly stable despite significant business 9.6 8.7 growth - Reprioritisation of resources to areas driving 4.6 greatest strategic value: 2017 2018 2019 o Investment in commercial capability, community and proprietary technology - Medium term opex in £10m to £12m range

2017 2018 2019

Revenue Growth Operating Cost Growth

11 Gfinity Esports Building an engaged Gfinity community

• Created Gfinity Media Distribution Channel (MDC) to compete favourably with other gaming titles • Centred on gamer insights; built by team of passionate gamers

Website; Facebook; Instagram; Twitter. Primary audience: • Esports enthusiasts

Future Content Revenue streams • Organic • More games • Ad-serving • News • More writers • Website ‘takeovers’ • More languages • Opinions • Social asset ‘takeovers’ • Tutorials • Organic community • More creative • Video & podcast build consultancy formats • Long-form shows • More commercial • Collaborations partners • •

REALSPORT Website; Facebook; Instagram; Twitter. Primary audience: • Casual gamers

3 year ambition: 100 million gamers/mth organically reached; 25 publisher and brand partners; significant source of future revenue 12 Gfinity Esports Senior Leadership Team

GarryGraham Graham Jonathan John CookWallace Wallace Hall Clarke

EXECUTIVE CHAIRMAN CHIEF EXECUTIVE OFFICER CHIEF FINANCIAL OFFICER GLOBAL BRAND & MARCOMNS OFFICER

PREVIOUSLY PREVIOUSLY PREVIOUSLY PREVIOUSLY GLOBAL BRAND OFFICER MTV Saracens RFC Heineken UFC Manchester City FC American Express PA Consulting CHIEF EXECUTIVE OFFICER Glasgow Rangers FC Burson-Marsteller PR Arthur Andersen Manchester City PRESIDENT Michael Jordan Brand, NIKE

Paul Amanda Bryan Kent Lawson Healy

GLOBAL HEAD OF ESPORTS SOLUTIONS GLOBAL HEAD OF CONTENT GLOBAL HEAD OF CLIENT SERVICES

COMPETITIVE GAMING PREVIOUSLY PREVIOUSLY 20+ Years Experience in designing UFC UFC Esports solutions ITV Sport WMG FIFA 2010 World Cup IMG

13 Gfinity Esports Summary

Connecting major publishers, rights holders, brands and media companies to an engaged global audience of 900 million

Trusted partner to some of world’s most recognised brands

End to end esports solution capability, underpinned by quality of people, processes and proprietary esports technology

Reaching 25 million gamers per month via own media distribution channels

Introduction of new leadership team in 2018, delivering on financial commitments

14 Gfinity Esports Appendix

15 Case Study - Igniting a motorsports esports revolution

Formula 1 Esports Motorsport Opportunities The Future

1.1bn number of motorsport fans

275 million gamers love motorsports

Portfolio of global solutions targeting younger 3 seasons designed, developed and delivered by Design, develop and deliver long term strategic audience Gfinity esports solutions Proprietary IP and partner IP bridging the gap Creation of new virtual business vertical Creating new consumer touch points between the real and virtual

New audience – 70% under the age of 34 Proprietary solution for each rights holder to connect Mainstream approach to expand addressable market with young and digital consumers and grow number of fans

16 Gfinity Esports Case Study - Igniting a football esports revolution

EA Sports FIFA Other Football The Future

675 million gamers who love football Multi-year relationship, growing 4x since inception

Bridging the gap to 3.5bn soccer fans World class delivery of an increasing number publisher owned esports programme Portfolio of global solutions targeting younger Gfinity designing, developing and delivering solutions audience From Service Provision to include limited commercial for a growing number of additional football rights rights (tournament sponsorship) holders Leverage strong brands to grow Esports reach and value Football clubs and leagues need solutions to address the next generation fan - New competitive gaming entertainment formats: - Creative partner concepts - Owned formats (IP) with commercial rights

17 Gfinity Esports