An anonymous director reports

INDEPENDENT PROXY ADVISORY FIRM ISS RECOMMENDS FANSUNITE SHAREHOLDERS VOTE FOR SALE TRANSACTION RESOLUTION AND ALL OTHER RESOLUTIONS AT UPCOMING SPECIAL MEETING

Leading independent proxy firm Institutional Shareholder Services Inc. (ISS) has recommended that Fansunite Entertainment Inc. shareholders vote for resolutions approving the previously announced sale of all of the issued and outstanding shares of Fansunite U.S. Inc. (FansUS) to Hero Group Corp., as well as the reduction in capital of the common shares of the company to facilitate the distribution of a portion of the net proceeds received by the company from the transaction as a return of capital and the voluntary delisting of the common shares from the Toronto Stock Exchange.

The special meeting of shareholders to approve the meeting matters, including the transaction, is scheduled for Tuesday, Aug. 13, 2024.

ISS recommendation

In making its recommendation, ISS considered, among other factors, the extensive strategic review process outlined in the company's information circular dated July 5, 2024, the formal valuation fairness opinion provided by independent financial adviser BDO (Canada) LLP and the distribution (6.5 cents to 7.5 cents). As stated in the ISS report: "The board conducted a reasonable market check which provided some degree of price discovery. The valuation appears credible and the offer values FansUS attractively based on several of the valuation methodologies employed."

Fansunite board recommendation

The board of directors of Fansunite unanimously recommends that shareholders vote for all proposed meeting matters.

Full details of all proposed resolutions and voting instructions are set out in the circular and related proxy materials in respect to the meeting.

Please visit the meeting page on Fansunite's website for complete details and links to all relevant documents ahead of the meeting, copies of which are also available under Fansunite's profile on SEDAR+.

Vote today

Shareholders are encouraged to read the circular and vote well in advance of the proxy deadline of 11 a.m. PT on Friday, Aug. 9, 2024.

Special meeting details

Date:  Tuesday, Aug. 13, 2024

Time:  11 a.m. PT

Location:  offices of DLA Piper (Canada) LLP, 1133 Melville St., Suite 2700, The Stack Building, Vancouver, B.C., Canada

Shareholder questions and assistance

Shareholders who have questions or require assistance with voting may contact Laurel Hill Advisory Group, Fansunite's proxy solicitation agent and shareholder communications adviser, as follows.

North American toll-free:  1-877-452-7184

Calls outside North America:  1-416-304-0211

E-mail:  assistance@laurelhill.com

About Fansunite Entertainment Inc.

Fansunite is a global sports entertainment and gaming company. The company's 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. American Affiliate is a North American omnichannel customer acquisition company, covering both retail and digital customer activation for sportsbooks, casinos, poker and fantasy sports platforms.

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