Mr. Brendon Grunewald reports

MOOVLY MEDIA PROVIDES UPDATE ON MANAGEMENT CEASE TRADE ORDER

Moovly Media Inc. has provided an update with respect to the previously announced management cease trade order (MCTO) issued at the request of the company on Jan. 30, 2024.

The MCTO was issued in connection with the delay by the company in filing its annual financial statements, management's discussion and analysis, and related officer certifications for the fiscal year ended Sept. 30, 2023, beyond the required filing deadline under parts 4 and 5 of National Instrument 51-102 -- Continuous Disclosure Obligations and pursuant to National Instrument 52-109 -- Certification of Disclosure in Issuer's Annual and Interim Filings, being Jan. 29, 2024.

The company and its auditors are working diligently to finalize the financial statements, which are expected to be filed no later than March 29, 2024. The MCTO prohibits the company's chief executive officer and chief financial officer from trading securities of the company, and will remain in effect until the financial statements are filed.

Following the filing of the financial statements, the company will be filing its interim financial statements for the three-month period ended Dec. 31, 2023, within five business days.

The company is providing this status update in accordance with National Policy 12-203 -- Management Cease Trade Orders (NP 12-203). The company intends to follow the provisions of the alternative information guidelines set out in NP 12-203, including the issuance of biweekly default status reports in the form of news releases, for as long as the company remains in default. The company confirms as of the date of this news release that there has been no material change in the information contained in the default announcement issued on Jan. 30, 2024, and there is no other material information concerning the affairs of the company that has not been generally disclosed.

About Moovly Media Inc.

Moovly is the leading provider of creative cloud-based tools to create compelling marketing, communications and training videos and video presentations. Moovly's advanced studio editor with millions of assets seamlessly integrated (via partnerships with Getty Images and Storyblocks) is all you need to create engaging video content to promote, communicate or explain your product, service or message. Moovly's API (application programming interface) and automator technologies allow third parties to automate parts or all of the content creation process, including mass video customization, personalized videos (video version of mail merge), automatic content creation or updating by connecting data sources. With clients including users from over 300 of the Fortune 500, small businesses, freelancers and Ivy league universities, Moovly is an intuitive, cost-effective choice for DIY (do-it-yourself) creation of engaging video-based content.

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