IXUP Limited provided this update in relation to initiatives being progressed with its collaboration partners GeoComply Solutions Inc. (GeoComply) and Conscious Gaming (together the "Collaboration Partners") to leverage IXUP technology within the fast-growing USA based online sports betting market. These initiatives are being progressed in accordance with the Pilot Collaboration Agreement signed between IXUP, GeoComply and Conscious Gaming, announced by IXUP on 5 October 2021 (the Collaboration). The Collaboration is focused on the development of a new IXUP-enhanced version of `PlayPause', a next generation product for online sports betting markets that can securely identify users that are ineligible to place sporting bets.

IXUP's patent protected technology that is incorporated within `PlayPause', provides highly secure, privacy enhancing, encryption-based data analytics capabilities and delivers unique functionality suitable for the highly regulated online gaming and wagering market. IXUP is pleased to confirm that proof of concept market testing, as contemplated in the Collaboration Agreement, has now been completed with 100% of the associated testing objectives successfully achieved. The proof of concept market testing also confirmed that IXUP's leading secure data collaboration technology can deliver on the technical product objectives of `PlayPause'.

The testing and associated market interactions confirmed interest and demand for the various product-market applications being targeted in relation to responsible gaming, sports integrity and compliance.