Mr. Curtis White reports

NETWORK MEDIA GROUP ANNOUNCES 2024 FIRST QUARTER RESULTS

Network Media Group Inc. has released reported financial results for the first quarter ended March 31, 2024, including three-month revenues of $2,128,816 (2023: $1,828,115), a net loss of $605,971 (2023: a net loss of $741,373) and adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) loss of $362,747 (2023: adjusted EBITDA loss of $436,898) and a backlog of $20.2-million. On a per-share basis, the Company reports a loss of $0.03 per share (2023 - loss of $0.04) and an Adjusted EBITDA loss per share of $0.02 (2023 - loss of $0.02). The income per share figures are reported on a post-consolidation basis. The financial statements and related Management's Discussion and Analysis ("MD&A") can be viewed on SEDAR at www.sedar.com .

Network President Curtis White stated, "This past quarter was bustling with production activity, marked by the commencement of production on several feature-length documentaries and the exciting launch of a new four-part documentary series. As we tackle a $20 million backlog in the coming months, we are setting the stage for a robust year of expansion and achievement for our studio."

Key metrics for Network's three months ended Q1 2024 include the following highlights:

Contracted future revenues of $20.2M with $10.9M to be recorded in the next six months and $9.3M beyond seven months;

Revenues of $2,128,816 (2023 - $1,828,115);

Net loss of $605,971 - $0.03 per share (2023 Net loss of $741,373 - $0.04 per share);

Adjusted EBITDA loss of $362,747 - $0.02 per share (2023 Adj. EBITDA loss of $436,897 - $0.02 per share).

Network also continued pre-production and production on:

Six feature-length documentaries;

A new four-part documentary series.

About Network Media Group / Network Entertainment

Network Media Group is the parent company of Network Entertainment Inc.

Network Entertainment is a creatively driven, boutique film, television, and digital content production company that creates, finances, and produces award-winning programming for television, digital platforms, and movie audiences around the world.

The Network premium brand of content delivers world-class casts and features visually cinematic, richly crafted storytelling. The Company's productions are consistently embraced by both audiences and critics alike, garnering awards, record ratings, and unparalleled media coverage for Network and its partners. Network NFT Studios collaborates with IP owners, artists, and top talent to create, distribute, and monetize digital collectibles campaigns and related initiatives in the web3 universe.

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