Mr. Lou Schwartz reports

ENGINE GAMING COMPLETES SHARES FOR DEBT SETTLEMENT

Engine Gaming and Media Inc., further to its press release dated Feb. 15, 2023, has completed its shares for debt transaction whereby an aggregate of $305,137 (U.S.) of the company's outstanding debt was extinguished by way of the issuance of 200,000 common shares in the capital of the company at a deemed price of $1.525 (U.S.) ($2.04) per share. The company has also issued 100,000 common shares to fully settle an outstanding litigation matter. The shares issued pursuant to the shares for debt transactions are subject to a four-month-plus-one-day hold period expiring on July 23, 2023.

About Engine Gaming and Media Inc.

Engine Gaming and Media provides unparalleled live streaming data and social analytics, influencer relationship management and monetization, and programmatic advertising to support the world's largest video gaming companies, brand marketers, e-commerce companies, media publishers and agencies to drive new streams of revenue. The company's subsidiaries include Stream Hatchet, the global leader in gaming video distribution analytics; Sideqik, a social influencer marketing discovery, analytics and activation platform; and Frankly Media, a digital publishing platform used to create, distribute and monetize content across all digital channels. Engine Gaming generates revenue through a combination of software-as-a-service subscription fees, managed services and programmatic advertising.