Meridianbet’s Largest Shareholder Aleksandar Milovanovic Completes $500,000 Cash-to-Equity Conversion Under Post-Closing Agreement with Parent Company

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Aleksandar Milovanovic

Meridianbet’s Largest Shareholder Aleksandar Milovanovic Completes $500,000 Cash-to-Equity Conversion Under Post-Closing Agreement with Parent Company

Mr. Aleksandar Milovanović, founder and largest shareholder of Meridianbet, has completed a $500,000 cash-to-equity conversion under the Post-Closing Cash Consideration Conversion Agreement, as specified in the Eighth Amendment to the Amended and Restated Sale and Purchase Agreement with the parent company, Golden Matrix Group (GMGI).

The Eight Amendment was signed on August 29, 2025 and entered into force on September 9, 2025. The underlying SPA was signed June 27, 2023, and the acquisition closed on April 9, 2024 (effective April 1, 2024).

The conversion was executed in five scheduled tranches from September 9 to September 26, 2025.

With the final tranche today, the full $500,000 conversion is complete as agreed. These issuances were made as restricted shares pursuant to the SPA terms and do not affect the overall economics of the post-closing consideration.

The completion of the scheduled tranches related to Mr Aleksandar Milovanovic converts cash obligations into equity as outlined in the agreement, without changing the overall post-closing economic terms. This process manages cash flow timing and maintains consistency with the agreed-upon shareholder structure.

Related documentation is available on the SEC’s EDGAR system on the following link.

About Meridianbet

Founded in 2001, Meridianbet Group is a well-established online sports betting and gaming group, licensed and currently operating in 18 jurisdictions across Europe, Africa, and South America. The Meridianbet Group’s successful business model utilizes proprietary technology and scalable systems, allowing it to operate in multiple countries and currencies with an omni-channel approach to markets, including retail, desktop online, and mobile. The Company is part of the Golden Matrix Group.

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