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13 March 2024

ENGAGE XR Holdings Plc

("ENGAGE XR" or the "Group")

Launch of School of AI

ENGAGE XR Holdings Plc, a leading spatial computing and metaverse technology company, is delighted to announce the launch of "School of AI". This new offering creates an immersive learning environment, in which students can speak to notable figures of history, powered by conversational and generative AI.

School of AI has been built and developed by the team at ENGAGE XR and offers a glimpse into the future of AI for educational use. School of AI is set in authentic historic locations, such as Marie Curie's lab (image below) or the Hall of Independence with Benjamin Franklin. Where original audio clips were available for a given character, those clips were used to train the AI to sound exactly like the original characters and give them similar mannerisms.

School of AI will be made available to a selection of ENGAGE XR's educational clients later this month, followed by a full rollout planned later this year, which is expected to create new revenue opportunities. ENGAGE XR's educational clients include the Kentucky Department of Education, Optima Domi, and Lobaki.

School of AI will be available on all leading VR/AR devices, PCs, Phones and Tablets, with 12 AI-powered characters, including Neil Armstrong, Rosa Parks, Benjamin Franklin, Nikola Tesla and Marie Curie, available on release, with more arriving later this year.

Further details can be found here:  https://engagevr.io/school-of-ai/

David Whelan CEO, ENGAGE XR, said: "There is a lot of excitement around AI and its capabilities to generate images, videos, and text. We have been actively researching and developing tools and services, which work in combination with OpenAI and MetaAI, that are more than just cool tech demos.

"School of AI is just the first in a line of services we have planned for release this year. We have developed a suite of useful tools that merge AI, Metaverse and Spatial Computing services into singular useful products that will make a meaningful impact in terms of educational and enterprise use. At School of AI, students will be able to learn history from those who lived through it, speaking directly to Marie Curie, Nikola Tesla and many others as if they were alive today.

"School of AI focuses on education however we have similar offerings for enterprise clients which are tailored to help onboarding and ongoing professional development."

For further information, please contact:

About ENGAGE XR

ENGAGE XR Holdings plc (AIM: EXR) is an extended reality (XR) technology company focused on becoming a leading global provider of virtual communications solutions through its new fully featured corporate metaverse, ENGAGE Link. A demonstration of ENGAGE Link is https://youtu.be/2OHtimtFY3M?si=Ng0-mwgUpTgU4wtl

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.

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.