23 June 2022

ENGAGE XR Holdings Plc

("ENGAGE XR", the "Company", or the "Group")

ENGAGE & METAVERSE UPDATE

ENGAGE XR Holdings Plc, a virtual reality ('VR') communications technology company, is pleased to provide an update on the positive progress being made in regard to continued development in its enterprise focused Metaverse platform offering and the further growth of its proprietary software platform, ENGAGE.

Update on Metaverse Offering - ENGAGE Link

Ahead of the launch of the Group's Metaverse offering for enterprises - "ENGAGE Link" - expected in Q4 this year, ENGAGE XR is delighted to announce that HTC, and The Virtual Human Interaction Lab at Stanford University are confirmed as launch partners. These world-leading organisations will use ENGAGE's MetaVerse platform to build and design their own MetaWorlds enabling them to interact with stakeholders, host real business dealings and professional virtual events within the ENGAGE ecosystem. 

A preview of ENGAGE Link can be found here, and further details are available on the Company's updated website here

ENGAGE's MetaVerse platform is divided into plazas. HTC will be situated within the Enterprise plaza and The Virtual Human Interaction Lab at Stanford University will be part of the Education plaza. Stanford's MetaWorld will be based on its world-famous virtual reality lab and will provide visitors an insight into the bleeding edge research being undertaken at the university.

The Group expects to announce further ENGAGE Link launch partners in due course.

ENGAGE Update

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

Engage XR has secured a significant customer renewal with South Korean company, D'Carrick Co Ltd which has signed a new contract worth €300,000 over three years. This extends a successful three-year relationship, initially worth €70,000 per annum.  Other ENGAGE customers include Kia, which is hosting a virtual car launch event in its own MetaWorld this Summer, Uniper, an energy corporation with a €6.7bn market cap, and Natixis, a French corporate and investment bank.  

To keep up with the growing number of global users, the Company has launched 24/5 customer support with teams available to help customers in the US, Australia, and Europe. 

David Whelan. CEO, ENGAGE XR said: "Today's announcement is just a quick snapshot of what's happening at ENGAGE XR. We will have more news and updates in the coming months with the launch of ENGAGE Link expected towards the latter half of this year. With ENGAGE Link, we are building a completely distributive economic environment for forward-thinking enterprises and individuals to build the future of work, commerce and communications. 

"ENGAGE Link is the first time that our clients will have publicly accessible, always on, persistent locations to advertise their business and services directly to the general public and to potential clients. Clients can build out their own unique MetaVerse for private company use or make it available to the wider world on ENGAGE Link or via their own website using our deep links system.

"Just as the emergence of the internet changed the world in the late 90s, the professional MetaVerse will change business practices globally with how we communicate with our employees, our customers and each other." 

For further information, please contact:

About ENGAGE XR

ENGAGE XR Holdings plc (AIM: EXR; Euronext Growth: EXR) is a virtual reality ('VR') technology company focused on becoming a leading global provider of virtual communications solutions through its 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. 

ENGAGE is currently developing a new fully featured corporate metaverse, called ENGAGE Link with the launch expected in the second half of 2022.

EXR is listed on AIM in London and on the Euronext Growth, a market operated by Euronext Dublin. 

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