20 August 2026

AIM: CHL

Cloudified Holdings Limited

("Cloudified" or the "Company")

Commercial update for PowerPlay Media

PowerPlay Media announces significant progress across content distribution, commercialisation and live events, including agreements expected to generate approximately US$1.3 million of annualised recurring revenue

Cloudified Holdings Limited (AIM: CHL), the AIM-quoted cash shell which has agreed heads of terms to acquire PowerPlay Media and Entertainment Limited ("PowerPlay" or "PPM") by way of a reverse takeover, is pleased to provide the following update on PowerPlay's progress against its core business objectives of distributing and monetising entertainment media assets and delivering high-value, high-margin content and live events to more than 500 million mobile consumers worldwide.

Highlights

Othman Shoukat, Executive Chairman of PowerPlay Media, commented:

"These developments demonstrate the PowerPlay model working as intended: monetising the content assets we control and the commercial relationships we have developed through a capital-light, scalable structure.

"Once fully established, the YATOP and Framerate agreements are expected to generate combined recurring revenue of approximately US$1.27 million annualised, without requiring capital investment or fixed-cost commitments from PowerPlay. This builds on existing contracts with SAFF, MBC and SuperSport referenced in our announcement of 29 June 2026.

"Most notably, we have established a pathway through which content owners, beginning with Penrose and its reach of approximately 350 million users, can access major telecommunications networks. Our initial focus is mobile gaming, where carrier billing removes a key payment barrier and helps convert large mobile audiences into paying customers. The same infrastructure can monetise PowerPlay's content and live events, including the IBF World Championship in Manila. Together, these agreements provide recurring revenue and a repeatable route to international distribution."

Enquiries

1. Penrose Systems - strategic Memorandum of Understanding (non-binding)

PowerPlay has entered into a Memorandum of Understanding with Penrose Systems (Pty) Ltd, a South African-incorporated mobile gaming and esports technology company operating across 10 countries, with carrier partners including Airtel, Vodacom and Safaricom. Its products include Battle League, an esports platform providing live tournaments and daily challenges across premium titles, and Kick Off, a football prediction and fantasy product incorporating live streaming of European club football. The agreement establishes a commercial framework across two principal areas, being:

• Distribution of PowerPlay's core content assets, being the All Women's Sports Network, Black Belt and live-event content, through Penrose's mobile user ecosystem; and

• PowerPlay facilitating the deployment and commercialisation of Penrose's platform and mobile games portfolio across a network of leading telco networks

The Directors believe that the scale of the potential distribution opportunity is significant. The Memorandum of Understanding records an addressable footprint of approximately 350 million users through Penrose's existing carrier relationships.

The Memorandum of Understanding also establishes the intended revenue-sharing framework between PowerPlay and Penrose across both content and gaming revenues. It is non-binding, and the parties intend to negotiate a definitive long-form agreement in the near future.

This content distribution is additional to PowerPlay's existing broadcast contracts with MBC for the Middle East and North Africa and with SuperSport for Sub-Saharan Africa. It delivers on PowerPlay's plan to actively target mobile users at the point of payment and consumption, via full integration with the telecommunications operators' payment gateways.

2. JungoTV- three-year distribution and commercialisation agreement (executed)

PowerPlay and JungoTV have executed a Commercialisation and Distribution Framework Agreement with an initial term of three years.

The executed agreement provides the framework through which PowerPlay content properties can be introduced, negotiated and commercialised across dedicated telecommunications and digital businesses. Penrose is expressly named as the first property under the agreement.

The agreement identifies multiple revenue streams, including subscriptions, transactional purchases, pay-per-view, premium content, in-app purchases, bundled telecommunications packages, minimum guarantees, licensing, sponsorship and advertising, allowing the commercial model to be set property by property.

The Directors regard the agreement as strategically significant. Monetisation occurs through integrated carrier billing, under which purchases are charged directly to the consumer's mobile account without separate payment registration. In markets with high mobile penetration and limited banking access, this removes the principal barrier to converting users into paying customers, and it applies equally to in-game purchases, subscriptions and pay-per-view events. Of particular note, is PowerPlay's ability to monetise its live events on the same infrastructure, enabling one-click billing and collection. The model requires no incremental infrastructure investment by PowerPlay.

Mobile gaming is the largest single category of carrier-billed digital content. Industry analysis indicates that gaming accounted for approximately 41% of global direct carrier billing revenues in 2025, within a market estimated at US$53 billion in 2026.

The Company will update the market on contracted revenues as individual transaction schedules are concluded.

3. YATOP - commercial agreement signed; two clients engaged (executed)

PowerPlay has executed a commercial agreement directly with YATOP, a Los Angeles media optimisation agency operating on TikTok. Client implementation has already commenced, with two of PowerPlay's multinational clients now engaged with YATOP.

The model provides PowerPlay with an economic participation in qualifying advertising expenditure generated by clients introduced through the relationship. The Directors expect the two clients engaged to date to generate monthly recurring revenue of approximately US$56,000 to PowerPlay once both relationships are fully established. PowerPlay has identified a number of further multinational clients and partners that could be onboarded to the optimisation programme, and any such clients would be incremental to this.

The context is the scale of the underlying spend. TikTok advertising expenditure in the United States reached approximately US$11.0 billion in 2025 and is projected to reach US$14.5 billion in 2026. Globally, TikTok generated approximately US$33 billion in advertising revenue in 2025, up around 40% year on year. Growth at that rate has created substantial demand for specialist optimisation.

PowerPlay's role is introduction. It brings clients from a commercial network it has built over years and participates in the spend that follows, without carrying execution risk or cost. Given the limited incremental operating expenditure required, the Directors expect revenue from this channel to have a positive effect on cash generation and working capital.

4. IBF World Championship - Manila, 14 November 2026

PowerPlay will participate in the promotion, international distribution and advertising and sponsorship commercialisation of a World Championship Boxing event in Manila on 14 November 2026.

The event is being presented by VIVA Promotions with PowerPlay participating in the international television distribution of the event across North and South America, the United Kingdom, MENA, Sub-Saharan Africa and Asia Pacific, and providing sponsorship and advertising commercialisation across the full fight card.

This is the first event to be delivered under PowerPlay's live events strategy and provides a proof point for it. PowerPlay originates and promotes the event, controls its international distribution, and monetises it through the channels it has established, including the pay-per-view platform referred to at paragraph 5 below.

5. Framerate - secure pay-per-view television (executed)

PowerPlay has signed a distribution and monetisation contract with Framerate, which is one of the USA's largest providers of secure Pay per View broadcasters to the penitentiary system with c2m monthly active users. 

Framerate delivers approved and curated content via its WowSee platform directly to modified devices. Under the proposed contract, Framerate would deliver the full range of PowerPlay content, including women's sports, via the All Womens' Sports Network, combat sports under the Black Belt media brand, PPV films and PPV live boxing and other live sporting events.

The Directors expect the agreement to generate baseline monthly recurring revenue to PowerPlay of approximately US$50,000. Revenues are expected to increase around live event delivery, including boxing fight cards and other live sporting events.

The agreement requires no capital investment from PowerPlay. There is no platform to build, no audience to acquire and no new content to produce. Framerate operates the delivery infrastructure and holds the billing relationship with end users, while PowerPlay monetises a content library it already owns.

6. Advisory Board

Powerplay has assembled a strong advisory board to support its business rollout. It comprises;

Tony Parrish

Tony Parrish played nine seasons in the National Football League as a safety, with the Chicago Bears, San Francisco 49ers and Dallas Cowboys. He was named second-team All-Pro in 2003, the year he tied for the NFL lead in interceptions, and recorded 30 interceptions over his career. He is listed on the San Francisco 49ers' All-2000s team.

Since retiring he has worked in combat sports broadcasting, co-hosting the series Bushido Battleground, and in content acquisition, where he has developed relationships across leading international sporting federations and leagues spanning American football, women's sport and combat sports. His appointment strengthens PowerPlay's sports expertise, US credentials and commercial network, and brings direct experience across categories central to PowerPlay's portfolio, including the All Women's Sports Network and the Black Belt combat sports brand.

Mohammed Majid

Mohammed brings senior sports industry leadership, Big Four Partner credentials, and a decade living and working in Saudi Arabia, offering deep expertise across sports media, strategic investment, and Middle East markets.

He most recently served as CFO/COO of CAA International, building the global operating platform for the world's leading sports and entertainment agency across 30+ countries. Prior to CAA, he was a Partner at KPMG, and Global CFO of the PwC Network ($55bn+, 150+ countries), advising boards on growth strategy, M&A, and complex transformation.

He has also held senior leadership roles across Asia and his native UK, giving him the cultural fluency and regulatory insight to navigate complex markets. He works with owners, investors, and seniorleaders in sports and high-growth businesses to drive strategic and operational value creation.

Jayne Haines

Jayne is a highly accomplished global executive and non-executive director with more than 30 years' experience leading talent, organisational transformation and corporate governance across multinational organisations. Most recently, she served as Managing Director, Global Head of Talent at Rio Tinto, advising the Board on executive succession, leadership, culture and organisational performance, while leading the company's response to its landmark Everyday Respect review and driving significant improvements in employee engagement, leadership development and compliance. Prior to this, she spent over two decades at GlaxoSmithKline, holding a number of senior international leadership positions including Senior Vice President of Talent, Leadership & Organisational Development and Global Chief Learning Officer, where she advised the Board and Executive Committee on organisational effectiveness, succession planning and leadership development, delivering large-scale transformation programmes across global operations. Alongside her executive career, Jayne has built an extensive non-executive portfolio, serving on the boards of ACAS, Thames and District Housing Association and the England & Wales Cricket Board's Recreational Game Committee, as well as Chair of Berkshire Cricket Foundation and former Chair of Women in Sport. She is currently undertaking a PhD at King's Business School and was awarded an MBE in 2021 for services to women's sport.

Basis of information

The recurring revenue figures set out in this announcement represent the Directors' expectations of run-rate revenue once the relevant relationships are fully established. They are not a profit forecast and are not contracted revenue. Actual revenues will depend on end-user take-up, the volume of qualifying advertising expenditure and the conclusion of individual transaction schedules, and may differ materially.

About Cloudified

Cloudified Holdings Limited is an AIM-quoted cash shell incorporated in the British Virgin Islands. The Company has agreed heads of terms to acquire the entire issued share capital of PowerPlay Media and Entertainment Limited by way of a reverse takeover. Completion remains subject to, among other matters, due diligence, fundraising, shareholder approval and re-admission of the enlarged group's shares to trading on AIM.

About PowerPlay Media

PowerPlay Media is a sports media and entertainment commercialisation business focused on monetising established media intellectual property through broadcast distribution, digital syndication and live-event opportunities. It operates a capital-light model and partners with recognised rights holders, broadcasters and institutional counterparties to commercialise content across multiple territories.

Registered office

PO Box 173, Kingston Chambers, Road Town, Tortola, British Virgin Islands.

UK establishment: c/o Blake Morgan LLP, Apex Plaza, Forbury Road, Reading, RG1 1AX. UK establishment number: BR016868.

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