Mr. Brendon Grunewald reports

MOOVLY MEDIA'S SUBSIDIARY FILES FOR INSOLVENCY

Moovly Media Inc.'s wholly owned Belgian subsidiary, Moovly NV, has entered into insolvency proceedings.

Despite the efforts of the board and executives of the company over several months to raise the required capital to continue operations in the subsidiary, the company has been forced to take these steps.

This development is only related to Moovly NV, the wholly owned subsidiary of Moovly. An external administrator has been appointed to oversee the process, and is actively working to identify a suitable party to take over the assets and operations of Moovly NV.

About Moovly Media Inc.

Moovly is the leading provider of artificial-intelligence-powered creative tools to create compelling marketing, communications, and training videos and video presentations. Moovly's advanced Studio Editor with millions of assets seamlessly integrated (through a partnership with Getty Images) is all you need to create engaging video content to promote, communicate or explain your product, service or message. Moovly's API 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 creation of engaging video-based content.

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