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30 September 2024

ENGAGE XR Holdings Plc

("ENGAGE XR" or the "Group")

Update on School of AI

ENGAGE XR Holdings Plc, a leading Metaverse / Spatial Computing technology company, is pleased to confirm the roll out of the "School of AI" to all of its education clients.

Developed inhouse by the team at ENGAGE XR, the School of AI creates an immersive learning environment, in which students can speak to notable figures of history, powered by conversational and generative AI.  

School of AI launched in March 2024 and was made available to a selection of ENGAGE XR's education clients. The feedback from this soft launch was positive and as a result, ENGAGE XR has now rolled out the product more widely. School of AI is now available to all of ENGAGE XR's education clients, which include the Kentucky Department of Education, Optima Domi, and Lobaki. The Board believes that the roll out of School of AI is expected to create enhanced revenue opportunities for the Company.

Available on all leading VR/AR devices, PCs, Phones and Tablets, School of AI enables students to engage with 12 AI-powered characters, in authentic historic locations, including Neil Armstrong, Winston Churchill, Cleopatra, Rosa Parks, Benjamin Franklin, Nikola Tesla and Marie Curie. Where original audio clips are available for a given character, these clips train the AI to sound exactly like the original characters and give them similar mannerisms. More historical figures are being developed within School of AI.

Further details can be found here:  https://youtu.be/w7FrJAQqKYk

David Whelan CEO, ENGAGE XR, said: "Our initial limited launch of the School of AI proved to be a great success, and we are delighted to be able to offer it now to all of our education clients.  Products like School of AI are example of how methods of teaching are evolving and how teaching will continue to develop in the future. Why just read about Benjamin Franklin when you can talk to him? Alongside Corporate Development & Learning, Education is one of the fastest-growing sectors in terms of the adoption of immersive technology, and we are building a strong reputation in this area, especially in the US."

For further information, please contact:

About ENGAGE XR

ENGAGE XR Holdings plc (AIM: EXR) is a leading Metaverse / Spatial Computing technology company focused on becoming a leading global provider of virtual communications solutions through its new fully featured corporate metaverse, ENGAGE Link. A demonstration can be viewed here: ENGAGE The Spatial Computing Platform for Enterprise

The Company also has a proprietary software platform, ENGAGE. ENGAGE provides users with a platform for creating, sharing, and delivering VR content for education, training, and online events through its three solutions: Virtual Campus, Virtual Office, and Virtual Events.

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For further information, please visit: www.engagexrholdings.com (LinkedIn: @Engage XR Holdings plc Twitter: @engage_xr)

Forward-Looking Statements

Certain statements made in this announcement are forward-looking statements. These forward-looking statements are not historical facts but rather are based on the Group's current expectations, estimates, and projections about its industry; its beliefs; and assumptions. Words such as 'anticipates,' 'expects,' 'intends,' 'plans,' 'believes,' 'seeks,' 'estimates,' and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties, and other factors, some of which are beyond the Group's control, are difficult to predict, and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements.

The Group cautions security holders and prospective security holders not to place undue reliance on these forward-looking statements, which reflect the view of the Group only as of the date of this announcement. The forward-looking statements made in this announcement relate only to events as of the date on which the statements are made. The Group will not undertake any obligation to release publicly any revisions or updates to these forward-looking statements to reflect events, circumstances, or unanticipated events occurring after the date of this announcement except as required by law or by any appropriate regulatory authority.