Mr. Konrad Wasiela reports

ESE ENTERTAINMENT REPORTS SECOND QUARTER 2023 RESULTS

ESE Entertainment Inc. has filed its unaudited condensed interim consolidated financial statements and related management's discussion and analysis (the MD&A) for the three months ended April 30, 2023 (Q2 2023), the highlights of which are presented in this news release. The financial statements and MD&A are available on SEDAR and on the company's website.

Q2 2023 financial highlights:

• Revenue of $10.99-million for Q2 2023;
• Gross profit of $1.92-million for Q2 2023;
• Total assets as at April 30, 2023, of $16.88-million.

"At ESE, we deeply value our shareholders' feedback and have taken real steps to maximize shareholder value. Recognizing the market has yet to fully appreciate our worth, we're pro-actively unlocking value. Our quiet period this quarter reflects the intense groundwork being laid for our ambitious 2023 success plan, aimed at fostering growth and profitability through strategic initiatives, without the need for capital raising. Our teams are hard at work, and we're excited about the prospects. You can look forward to upbeat progress and compelling developments in the near future," stated Konrad Wasiela, chief executive officer of ESE.

"This quarter has given us the opportunity to focus on business priorities that will set the stage for long-term shareholder value. At ESE, building financial strength has been a top priority, and through rigorous cost management, strategic investments and fostering innovation, we are creating a foundation that is not only robust but also adaptive to the evolving market dynamics. Our team remains committed to pursuing excellence for our shareholders," stated Andrea Lieuwen, chief financial officer of ESE.

Q2 2023 operational highlights:

• In February, 2023, ESE entered into a strategic partnership with Pozna Game Arena (PGA) and Metapro to organize the first ever Web3 game arena (W3GA).
• In March, 2023, ESE CEO was featured on Benzinga's Live Trading Show.
• In March, 2023, ESE CEO was featured on CBC on the "Player's Own Voice" podcast.
• In April, 2023, ESE produced two live LAN finals for Riot Games' League of Legends and Electronic Arts' FIFA23.

The financial and operating results discussed in this news release are based on the financial statements and MD&A, which were released on June 29, 2023. It is only in the context of the fulsome information and disclosures contained in the financial statements and MD&A that an investor can properly analyze this information. The financial statements and MD&A will be published under the company's profile on SEDAR.

About ESE Entertainment Inc.

ESE is a global technology company focused on gaming and e-sports. The company provides a range of services to leading video game developers, publishers and brands by providing technology, infrastructure and fan engagement services internationally. ESE also operates its own e-commerce channels, e-sports teams and gaming leagues.

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