Mr. Scott Burton reports

FANSUNITE ANNOUNCES PRELIMINARY UNAUDITED FISCAL 2023 FINANCIAL RESULTS

Fansunite Entertainment Inc. has released its preliminary unaudited revenue and gross margin results for the fiscal year ended Dec. 31, 2023.

Preliminary unaudited fourth quarter and fiscal 2023 financial highlights:

• Total revenue for the 12 months ended Dec. 31, 2023, was in the range of $23.4-million to $23.9-million.
• Gross margin for the 12 months ended Dec. 31, 2023, ranged from 61 per cent to 65 per cent, compared with 56 per cent over the same period in fiscal 2022.
• For fiscal 2023, the strategic divestment of i-gaming assets resulted in annualized cash savings of $7.8-million.
• Total revenue for the three months ended Dec. 31, 2023, was in the range of $6.2-million to $6.7-million, an increase of at least 12 per cent as compared with continuing operations from the three months ended Dec. 31, 2022.

"I'm pleased to announce our 2023 unaudited financial results, reflecting our commitment to restructuring the business for stability and growth," said Scott Burton, chief executive officer of Fansunite. "Despite the broader economic challenges, we have focused our business on streamlining operational costs while continuing to focus on our top line. Through strategic measures, we have reduced our debt, saw growth in our new business units and maintained our leadership position in live activations, laying a strong foundation for the future. Looking ahead, our priority is to shore up our balance sheet while positioning our affiliate business for success."

About Fansunite Entertainment Inc.

Fansunite is a global sports entertainment and gaming company. Its business is focused on the regulated and lawful sports betting affiliate market, which includes customer acquisition, retention, support and reactivation. Fansunite has established itself as a leader in the North American affiliate market through its subsidiary, American Affiliate Co. LLC (AmAff). AmAff is a North American omnichannel customer acquisition company, covering both retail and digital customer activation for sportsbooks, casinos, poker and fantasy sports platforms.

Disclaimer regarding financial information

This news release contains unaudited financial information for the 12 months ended Dec. 31, 2023, which has been prepared by management based on information currently available to the company. Accordingly, such financial information may be subject to change based on the results of the company's year-end audit. The making of a modifying or superseding statement shall not be deemed an admission for any purposes that the modified or superseded statement, when made, constituted a misrepresentation for purposes of applicable securities laws.

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