OverActive Media Leading in Esports Viewership and Total Engagement

MAD Lions KOI, Movistar KOI and Toronto Ultra Emerge as Top Brands Globally for Viewership and Total Engagement

TORONTO, Feb. 22, 2024 /CNW/ - OverActive Media Corp. (TSXV: OAM) (OTC:OAMCF) ("OAM", "OverActive" or the "Company") a premier esports and entertainment company for today's generation of fans is pleased to announce that since the announcements of the acquisitions of Team Randomk Esports S.L. (operating as "Movistar Riders") and the esports assets of Goatch Global, S.L. (operating as "KOI") and (collectively, the "Acquisitions") on January 4, 2024, that there has been a material increase in audience engagement and viewership statistics across the leading streaming and social media platforms for our teams:

• A January 4th kickoff event celebrating the acquisition announcements of KOI and Movistar Riders hosted by KOI co-founders Ibai Llanos ("Ibai") and Gerard Piqué reached nearly 120,000 concurrent viewers, the largest non-game day audience ever for OverActive. The announcement reached an audience of over 5 million across the Company's social media channels.
• MAD Lions KOI kicked off the League of Legends EMEA Championship (LEC) Winter Split in January, with their regular season match on January 15th reaching 741,000 peak viewers, making it the most watched LEC match since summer 20211. Ibai's co-stream of the matches generated more than 4.7 million views on Twitch. This viewership, for example, beats the HBO series finale of Succession, the Emmy-winning series that drew 2.93 million viewers across all platforms on its debut night.4
• KOI founder and imminent OverActive shareholder and partner Ibai Llanos' Twitch channel had the highest peak viewership of any esports channel in the world in January, during his co-stream of the MAD Lions KOI LEC match on January 15, 2024, peaking at over 225,000 concurrent viewers, according to data from Esports Charts.
• In January, MAD Lions / Movistar KOI brands led the esports category in viewership and total engagements across the major social media platforms across both Europe and North America. MAD Lions / Movistar KOI was a top five brand globally during the same period.
• Also in January, Toronto Ultra won the Major 1 Call of Duty League Championship in Boston on January 28. Major 1 hit peak viewership of over 245,000 and was one of the most watched Majors in CDL history. Toronto Ultra emerged as the Call of Duty Major I Champion and reached peak viewership of over 200,000 during the tournament final.
• MAD Lions KOI reached record viewership of 830,816 peak concurrent viewers on February 18, 20242, with Ibai's co-stream on Twitch hitting 321,900 peak viewers. Ibai's channel is the number one channel across all of Twitch in 20243. This was among the most watched matches in LEC history on the Spanish language stream.
• MAD Lions holds three of the top four rankings in terms of peak viewership for League of Legends esports across North America and Europe.

"Our ability to captivate a massive, global audience is pivotal to our success. The immediate surge in engagement and viewership after announcing the acquisitions highlights the strategic value of our operations and solidifies our leadership in the esports industry," said Adam Adamou, CEO of OverActive. "Merging our existing business with these acquisitions opens new vistas for viewer engagement. The enthusiastic response from our fans and partners reaffirms our direction and commitment."

Each Acquisition remains subject to several conditions, including the concurrent completion of the other Acquisition, the receipt of all necessary TSXV approvals, and other customary conditions that are set out in the definitive purchase agreement. For further details regarding the terms of the Acquisitions, please refer to OverActive's press releases dated January 4, January 8, 2024, and January 23, 2024, and to the copies of the definitive purchase agreements that have been filed under OverActive's SEDAR profile at www.sedarplus.com.

This press release contains statements which constitute "forward-looking statements" and "forward-looking information" within the meaning of applicable securities laws (collectively, "forward-looking statements"), including statements regarding the plans, intentions, beliefs and current expectations of OverActive with respect to the Acquisitions. Forward-looking statements are often identified by the words "may", "would", "could", "should", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" or similar expressions and includes information regarding (a) the completion of the Acquisitions, (b) the benefits expected to result from the Acquisitions by the Company, (c) the future performance of Movistar Riders and KOI, including the achievement of certain earn-out targets and their continued expansion and growth, (d) the timing and anticipated receipt of stock exchange approvals, (e) ability of the parties to satisfy the conditions to the closing of the Acquisitions , and (f) other statements that are not historical facts.

Investors are cautioned that forward-looking statements are not based on historical facts but instead OverActive management's expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although OverActive believes that the expectations reflected in such forward-looking statements are reasonable, such statements involve risks and uncertainties, and undue reliance should not be placed thereon, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of the OverActive. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking statements are the following: the risk that the parties may not enter into definitive agreements with respect to the Acquisitions and that the Acquisitions may not be completed on the terms described herein or at all; the possibility that one or more of the closing conditions to the Acquisitions may not be satisfied; risks associated with the integration of the Acquisitions and the performance of Movistar Riders and KOI following completion of the Acquisitions; changes in general economic, business and political conditions, including changes in the financial markets; changes in applicable laws and regulations both locally and in foreign jurisdictions; compliance with extensive government regulation; the risks and uncertainties associated with foreign markets; and risk factors set out in OverActive's annual information form for the year ended December 31, 2021. These forward-looking statements may be affected by risks and uncertainties in the business of OverActive and general market conditions.

Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although OverActive has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended and such changes could be material. OverActive does not intend, and does not assume any obligation, to update the forward-looking statements except as otherwise required by applicable law.

OverActive Media Corp. (TSXV: OAM) is headquartered in Toronto, Ontario, with operations in Madrid, Spain and Berlin, Germany. OverActive's mandate is to build an integrated global company delivering sports, media and entertainment products for today's generation of fans with a focus on esports, videogames, content creation and distribution, culture, and live and online events. OverActive owns team franchises in professional esports leagues, including (i) the Call of Duty League, operating as the Toronto Ultra, and (ii) the League of Legends EMEA Championship, operating as the MAD Lions. OverActive also leads OAM Live, an events arm that produces both live and online events.

KOI is the Barcelona headquartered Esports club founded by Kosmos and Ibai Llanos in December 2021. The club currently has three teams: League of Legends, which competes in the LVP Superliga; VALORANT, which, after a season competing in Spain, now competes in the VALORANT Champions Tour EMEA League; and EA FC.

Movistar Riders is one of the leading eSports clubs in Spain. Its professional players represent the Movistar Riders brand in multiple national and international tournaments, competing in the most popular games such as League of Legends, CS2, or VALORANT; in addition to having the Atlético de Madrid - Movistar team for EA FC.

The club is headquartered at the Movistar eSports Center, in Matadero Madrid, a high-performance center where both players and coaching staff have the most advanced means to develop their activity at the highest level.

For more information, visit the club's official website: https://www.movistarriders.gg/

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release

SOURCE OverActive Media

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