Gaming

NetDragon Websoft Holdings Limited ("NetDragon" or the "Company"; Hong Kong Stock Code: 777), a global leader in building internet communities, is pleased to announce that its education subsidiary Huayu has signed a strategic cooperation framework agreement with National Center for Educational Technology ("NCET"), a unit directly affiliated to the Chinese Ministry of Education (MOE). The two parties will work hand-in-hand to create a new model of smart education based on emerging technologies such as virtual reality (VR), artificial intelligence (AI) and big data, and explore the development of education informatization. The signing ceremony was attended by Deputy Party Chief and Secretary of the Discipline Inspection Commission of NCET Li Ping, Deputy Director of NCET Yang Fei Founder and Chairman of the Board of NetDragon Liu Dejian, and Senior Vice President of NetDragon Yu Biao .

Logo (PRNewsfoto/NetDragon Websoft Holdings Limi)

Based on the agreement, Huayu and NCET will carry out strategic cooperation in virtual simulation technology, online learning, AI, gamified learning and other aspects to help develop education informatization at multiple levels. In the future, based on the new online learning model of "New Infrastructure of Education", both parties will continue to cooperate in developing more innovative educational products and building online learning service systems with the characteristics of intelligence, autonomy, self-help and advancement. These will be introduced to potential regions across China , forming a new teaching model combining online and offline education in the country's basic education.

At the signing ceremony, Yang Fei , Deputy Director of NCET, said that NCET and Huayu have conducted fruitful cooperation in virtual experiment teaching in primary and secondary schools, and have achieved positive pilot results. Following the signing of the strategic cooperation agreement, NCET will make use of the edge of its national education technology system to create a favourable ecosystem and provide continuous support for education informatization. It will work with Huayu to promote innovation in teaching methods and popularization of education informatization, and tackle the current issue of uneven development of education.

Li Ping , Deputy Party Chief and Secretary of the Discipline Inspection Commission of NCET, expressed gratitude to Huayu for its support and also recognized Huayu's development and achievements in the field of "Internet+Education". She hopes this strategic cooperation is a starting point and both parties will go further to broaden the scope of cooperation, increase global influence, empower education with technology, create a bright future of cooperation, and contribute to the balanced development of education.

Liu Dejian, Founder and Chairman of the Board of NetDragon, said that NCET has played an indispensable leadership role in building a curriculum system and making it professional. Huayu, under the leadership of NCET, has utilized its technical edge to create industry-leading virtual experiment teaching products. It is believed that riding on this cooperation opportunity, Huayu will continue to integrate high-quality educational resources and enable the adoption of advanced technologies in the education segment. As such, virtual reality, artificial intelligence and other advanced technologies could be incorporated into the everyday teaching and learning routine, creating a new norm of "3E Education", in which education can be more "efficient", more "effective" and more "entertaining".

In retrospect of the history of cooperation between Huayu and NCET, the joint work in the field of virtual experiment teaching has begun to bear fruit. In January 2020 , Huayu and NCET officially signed a cooperation agreement to jointly push forward the development and promotion of a virtual experiment teaching system in primary and secondary schools. The two sides have made use of the national education resource public service platform to build a "Virtual Experiment Teaching Service System". As the exclusive provider of research and development as well as technical support for the system, Huayu has provided a full suite of technology support and services for the launch and use of the system, supporting the improvement of the level of experiment teaching and laboratory construction of related subjects in primary and secondary schools nationwide. The virtual lab has already had over 3,000 sets of teaching materials and has launched pilot programs in 68 primary and secondary schools in six provinces across China . In the future, it will enter into the experiment classes of more primary and secondary schools.

Yu Biao , Senior Vice President of NetDragon, said that NCET's virtual experiment program has achieved very positive pilot results across the country and the cooperation between Huayu and NCET has marked a new milestone. The two sides will continue to develop high-quality educational tools, so that virtual experiments can be incorporated into the everyday teaching in primary and secondary schools and create a new norm of intelligent education.

In 2019, "New Infrastructure" was written into the State Council government work report. In recent years, NetDragon's Huayu has capitalized on the "New Infrastructure of Education" to apply VR, AI, 5G and other emerging information technologies to educational products and create the "future classroom" in the era of digital education. Looking into the future, NetDragon will make an across-the-board effort in promoting innovation in education and teaching methods, introduce education informatization to more areas, and strive to promote equitable and quality education.

About NetDragon Websoft Holdings Limited

NetDragon Websoft Holdings Limited (HKSE: 0777) is a global leader in building internet communities with a long track record of developing and scaling multiple internet and mobile platforms that impact hundreds of millions of users, including previous establishments of China's first online gaming portal, 17173.com, and China's most influential smartphone app store platform, 91 Wireless.

Established in 1999, NetDragon is one of the most reputable and well-known online game developers in China with a history of successful game titles including Eudemons Online, Heroes Evolved and Conquer Online. In recent years, NetDragon has also started to scale its online education business on the back of management's vision to create the largest global online learning community, and to bring the "classroom of the future" to every school around the world.

For investor enquiries, please contact:

NetDragon Websoft Holdings Limited
Ms. Maggie Zhou
Senior Director of Investor Relations
Tel.: +852 2850 7266 / +86 591 8390 2825
Email: maggiezhou@nd.com.cn
Website: ir.nd.com.cn

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SOURCE NetDragon Websoft Holdings Limited

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Today, FaZe Clan Inc., the lifestyle and media platform rooted in gaming and youth culture, announced the appointment of Zach Katz as President and Chief Operating Officer, effective immediately. Katz, who has over 20 years of experience in the music content and talent business, will oversee FaZe Clan's content, talent, merchandise, consumer goods, sponsorships and esports businesses. Katz will report to FaZe Clan CEO Lee Trink .

Zach Katz - FaZe Clan President and Chief Operating Officer

"FaZe Clan sits at the intersection of gaming, creator economy and culture, all of which we believe is leading the growth of Web3," says Lee Trink, CEO of FaZe Clan. "We are squarely focused on building the future and by adding Zach to our team, we are gaining a proven leader who has extensive experience in working with innovative, cultural brands. Through my long standing relationship with Zach, I trust that he will help catapult our company into the next phase of growth, and bring operational excellence to FaZe as we become a public company."

As President and COO, Katz will work closely with the senior leadership team to grow the brand, prioritizing global expansion and developing new revenue-driving, innovative verticals. In his operations role, Katz will be focused on building internal systems that maximize efficiency, and foster a company environment that meets the demands and goals of the growing brand.

"Building on FaZe Clan's leadership in youth culture, our goal is to further push the boundaries of gaming to drive innovation in entertainment," says Katz. "I can't imagine a more exciting moment to join FaZe Clan's passionate team and community."

Katz began his career as a music attorney, then moved into music management, representing prominent artists, producers and songwriters. From there, he co-founded and served as CEO of the record label and music publishing company Beluga Heights in partnership with Sony Music, and later, Warner Brothers Records. Katz also served as Executive Vice President, Chief Creative Officer, and then President of Records, Publishing and Operations of artist-centric, global music company BMG and co-founded and served as CEO of music-tech investment fund Raised In Space Enterprises, which focuses on raising the value of music via investments in forward-thinking founders and technology. He earned a J.D. from Loyola School of Law in Los Angeles and a B.A. from The University of Southern California .

FaZe Clan announced in October 2021 , its plans to merge with B. Riley Principal 150 Merger Corp. (NASDAQ: BRPM) ("BRPM"), a special purpose acquisition company, to become a publicly traded company. The transaction is expected to close by July 2022 .

ABOUT FAZE CLAN
FaZe Clan is a digital-native lifestyle and media platform rooted in gaming and youth culture, reimagining traditional entertainment for the next generation. Founded in 2010 by a group of kids on the internet, FaZe Clan was created for and by Gen Z and Millennials, and today operates across multiple verticals with transformative content, tier-one brand partnerships, a collective of notable talent, and fashion and consumer products. Reaching over 500 million followers across social platforms globally, FaZe Clan delivers a wide variety of entertainment spanning video blogs, lifestyle and branded content, gaming highlights and live streams of highly competitive gaming tournaments. FaZe Clan's roster of more than 85 influential personalities consists of engaging content creators, esports professionals, world-class gamers and a mix of talent who go beyond the world of gaming, including NFL star Kyler "FaZe K1" Murray, Lebron "FaZe Bronny" James Jr., Lil Yachty aka "FaZe Boat" and Snoop Dogg aka "FaZe Snoop." Its gaming division includes ten competitive esports teams who have won over 30 world championships. FaZe Clan recently announced plans to go public through a merger with B. Riley Principal 150 Merger Corp. (NASDAQ: BRPM), a special purpose acquisition company. Learn more at fazeclan.com/public . For more information, visit www.fazeclan.com , investor.fazeclan.com and follow FaZe Clan on Twitter , https://www.instagram.com/fazeclan/?hl=en , YouTube , TikTok , and Twitch .

ABOUT BRPM
BRPM is a special purpose acquisition company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. BRPM began trading on the NASDAQ on February 19, 2021 following its initial public offering. Its shares of Class A common stock, units and warrants trade under the ticker symbols BRPM, BRPMU and BRPMW, respectively. BRPM is sponsored by an affiliate of B. Riley Financial, Inc. (Nasdaq: RILY).

Important Information about the Proposed Business Combination and Where to Find It
In connection with the proposed Business Combination, BRPM has filed a registration statement on Form S-4 (the "Registration Statement") with the Securities and Exchange Commission (the "SEC") which includes a preliminary proxy statement/prospectus relating to the proposed Business Combination (the "Proxy Statement/Prospectus"). After the Registration Statement is declared effective by the SEC, BRPM will mail the definitive Proxy Statement/Prospectus to holders of BRPM's shares of common stock as of a record date to be established in connection with BRPM's solicitation of proxies for the vote by BRPM stockholders with respect to the proposed Business Combination and other matters as described in the Proxy Statement/Prospectus. BRPM stockholders and other interested persons are urged to read the preliminary Proxy Statement/Prospectus and, when available, the amendments thereto, the definitive Proxy Statement/Prospectus, and documents incorporated by reference therein, as well as other documents filed with the SEC in connection with the proposed Business Combination, as these materials will contain important information about BRPM, FaZe Clan and the proposed Business Combination. Stockholders are able to obtain copies of the Proxy Statement/Prospectus and other documents containing important information about BRPM, FaZe Clan and the proposed Business Combination filed with the SEC, without charge, once such documents are available on the website maintained by the SEC at http://www.sec.gov , or by directing a request to: B. Riley Principal 150 Merger Corp, 299 Park Avenue, 21st Floor, New York, New York 10171, Attention: Daniel Shribman , telephone: (212) 457-3300.

No Offer or Solicitation
This press release shall not constitute a solicitation of a proxy, consent or authorization with respect to any securities or in respect of the proposed Business Combination. This press release shall also not constitute an offer to sell or the solicitation of an offer to buy any securities, or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

Participants in the Solicitation
BRPM and FaZe Clan and their respective directors and executive officers, under SEC rules, may be deemed to be participants in the solicitation of proxies of BRPM's stockholders in connection with the proposed Business Combination. Stockholders of BRPM may obtain more detailed information regarding the names, affiliations and interests of BRPM's and FaZe Clan's directors and executive officers in BRPM's Form S-1 filed with the SEC relating to its initial public offering, which was declared effective on February 18, 2021 ("Form S-1") and in the Proxy Statement/Prospectus. Information concerning the interests of BRPM's participants in the solicitation, which may, in some cases, be different than those of BRPM's stockholders generally, are set forth in the Proxy Statement/Prospectus.

Forward-Looking Statements
The information in this press release includes "forward-looking statements" pursuant to the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of present or historical fact included in this press release, regarding the proposed Business Combination, the ability of the parties to consummate the proposed Business Combination, the benefits and timing of the proposed Business Combination, as well as the combined company's strategy, future operations and financial performance, estimated financial position, estimated revenues and losses, projections of market opportunity and market share, projected costs, prospects, plans and objectives of management are forward-looking statements. These forward-looking statements generally are identified by the words "budget," "could," "forecast," "future," "might," "outlook," "plan," "possible," "potential," "predict," "project," "seem," "seek," "strive," "would," "should," "may," "believe," "intend," "expects," "will," "projected," "continue," "increase," and/or similar expressions that concern BRPM's or FaZe Clan's strategy, plans or intentions, but the absence of these words does not mean that a statement is not forward-looking. Such statements are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995 and are based on the management of BRPM's and FaZe Clan's belief or interpretation of information currently available.

These forward-looking statements are based on various assumptions, whether or not identified herein, and on the current expectations of BRPM's and FaZe Clan's management and are not predictions of actual performance. Because forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions, whether or not identified in this press release, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Many factors could cause actual results and condition (financial or otherwise) to differ materially from those indicated in the forward-looking statements, including but not limited to: (1) the occurrence of any event, change or other circumstances that could give rise to the termination of negotiations and any subsequent definitive agreements with respect to the proposed Business Combination; (2) the outcome of any legal proceedings or other disputes that may be instituted against BRPM, FaZe Clan, the combined company or others; (3) the inability to complete the proposed Business Combination due to the failure to obtain approval of the stockholders of BRPM, to satisfy the minimum cash condition following redemptions by BRPM's public stockholders, to obtain certain governmental and regulatory approvals or to satisfy other conditions to closing; (4) changes to the proposed structure of the proposed Business Combination that may be required or appropriate as a result of applicable laws or regulations, including the risk that any regulatory approvals are not obtained, are delayed or are subject to unanticipated conditions that could adversely affect the combined company or the expected benefits of the proposed Business Combination; (5) the ability to meet stock exchange listing standards following the consummation of the proposed Business Combination; (6) the risk that the proposed Business Combination disrupts current plans and operations of BRPM or FaZe Clan as a result of the announcement and consummation of the proposed Business Combination; (7) the ability to recognize the anticipated benefits of the proposed Business Combination, which may be affected by, among other things, competition, the ability of the combined company to grow and manage growth profitably, maintain relationships with customers and suppliers and retain its management, key employees and talents; (8) costs related to the proposed Business Combination; (9) changes in applicable laws or regulations, including changes in domestic and foreign business, market, financial, political, and legal conditions; (10) the possibility that BRPM, FaZe Clan or the combined company may be adversely affected by other economic, business, and/or competitive factors; (11) the impact of COVID 19 on BRPM's or FaZe Clan's business and/or the ability of the parties to complete the proposed Business Combination; (12) the inability to complete the PIPE investments in connection with the proposed Business Combination; and (13) other risks and uncertainties set forth in BRPM's Form S-1 and in subsequent filings with the SEC, including the Proxy Statement/Prospectus relating to the proposed Business Combination. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of BRPM and FaZe Clan. Forward-looking statements speak only as of the date they are made. While FaZe Clan and BRPM may elect to update these forward-looking statements at some point in the future, FaZe Clan and BRPM specifically disclaim any obligation to do so. These forward-looking statements should not be relied upon as representing FaZe Clan's and BRPM's assessments as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements.

FaZe Clan Logo (PRNewsfoto/FaZe Clan)

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SOURCE FaZe Clan

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