Mr. Konrad Wasiela reports

ESE ENTERTAINMENT REPORTS FIRST QUARTER 2024 RESULTS

ESE Entertainment Inc. has filed its unaudited condensed interim consolidated financial statements and related management's discussion and analysis (the MD&A) for the three months ended Jan. 31, 2024 (Q1 2024), the highlights of which are presented in this news release. The financial statements and MD&A are available on SEDAR+ and on the company's website.

Q1 2024 financial highlights:

• Total combined Q1 2024 revenue of $11.93-million (including GameAddik discontinued operations) comprising ESE at $3.89-million and GameAddik at $8.04-million;
• Improvement in loss per share to one cent, compared with three cents in Q1 2023.

"ESE has continued to build on its strong foundation, achieving significant financial and operational milestones. Our performance this quarter, highlighted by significant combined revenue, underscores the operational efficiencies. With the successful execution of our core initiatives and the anticipation of the final holdback payment from the GameAddik sale later this year, we have a healthy financial position. We've made strides to cut expenses and concentrate on what we do best, ensuring that ESE is not only thriving today but is also well prepared for the opportunities ahead. I am incredibly excited about what the future holds for ESE and our stakeholders," stated Konrad Wasiela, chief executive officer of ESE.

Q1 2024 operational highlights:

• In January, 2024, ESE announced that Samsung became the title partner ESE Entertainment's gaming tournament, Ultraliga.
• In January, 2024, ESE announced that the TSX Venture Exchange accepted the company's notice to implement a normal course issuer bid (the NCIB) to purchase, for cancellation, up to four million of its common shares, representing approximately 4.9 per cent of the company's 81,052,663 current issued and outstanding common shares and approximately 6.9 per cent of the 57,980,125 common shares currently comprising the company's public float.
• In January, 2024, ESE announced a strategic partnership with Metapro, a blockchain company. The partnership signifies a strengthened plan by ESE to provide its technology services to blockchain and crypto companies.
• In December, 2023, ESE announced that shareholders approved all matters at the annual general meeting.

The financial and operating results discussed in this news release are based on the financial statements and MD&A, which were released on April 2, 2024. It is only in the context of the fulsome information and disclosures contained in the financial statements and MD&A that an investor can properly analyze this information. The financial statements and MD&A will be published under the company's profile on SEDAR+.

About ESE Entertainment Inc.

ESE is a global technology company focused on gaming and e-sports. The company provides a range of services to leading video game developers, publishers and brands by providing technology, infrastructure and fan engagement services internationally. ESE also operates its own e-commerce channels, e-sports teams and gaming leagues.

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