PlaySide and Meta Platforms Inc. successfully extend and significantly expand the existing work-for-hire development agreement for a further 16 months. The agreement and contract represents the strong relationship between the two companies and reflects Meta's trust in PlaySide's development capability. Additionally, the Company has signed a significant separate six-month contract to provide an important new VR initiative for Meta to be delivered in October 2022.

The initial work-for-hire agreement with Meta involved the conceptualisation, creation and development of prototype explorations and games services on Meta's Horizon Worlds platform. The games are consumable in Horizon Worlds on the Meta Quest, an all-in-one virtual reality headset. The new agreement extends this direction and work for a further 16 months and in addition, PlaySide has been provided with an additional separate six-month contract to provide an important new VR initiative for Meta to be delivered in October 2022.