Issue of Convertible Loan Note / PDMR Disclosure

World Chess Plc

("World Chess" or the "Company")

Issue of Convertible Loan Note / PDMR Disclosure

World Chess PLC (LSE: CHSS), a leading chess organisation committed to expanding the global appeal of chess, announces the issue of a convertible loan note ("CLN") to Ilya Merenzon, its CEO and largest shareholder.

Mr Merenzon has recently disposed of 29.3 million ordinary shares ("Shares") in the Company and he has agreed to reinvest the expected net proceeds (after all related deductions) of £550,000 in the CLN.  The key terms of the CLN are as follows:

●    Convertible by Mr Merenzon in whole or in part at any time up until 29 June 2026;

●    Any unconverted amounts will automatically convert on 30 June 2026;

●    Conversion at 3.3 pence per Share, being the average price of the recent disposals by Mr Merenzon; and

●    Non-interest bearing.

Following his recent disposals, Mr Merenzon holds 375.22m ordinary shares in the Company, representing approximately 52.47 per cent. of the Company's issued share capital.

This announcement contains information which, prior to its disclosure, was inside information as stipulated under Regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310 (as amended).

For more information, visit: www.worldchess.com or contact:

Notes to Editors

About World Chess Plc

World Chess (LSE: CHSS) is a London-based chess gaming and entertainment company and Fédération Internationale des Échecs ('FIDE') official commercial partner. World Chess organised the FIDE Championship Matches in the USA, and the UK, and revolutionised the sport by signing the biggest media partnerships in history. World Chess develops Armageddon, the chess league for prime-time television. World Chess also runs FIDE Online Arena, the exclusive official chess gaming platform. More at worldchess.com.