FOR IMMEDIATE RELEASE 10th January, 2023  Stockholm – NINJAS IN PYJAMAS (NIP), the legendary esports organization, and ESV5 E-SPORT GROUP CO., the comprehensive Chinese digital sports group, are pleased to announce the completion of their merger through an equity share swap.

One of the largest mergers in the esports industry to date marks NIPs official entrance into the largest League of Legends (LoL) market: League of Legends Pro League (LPL) under the NIP banner. As part of NIP Group, eStar Gaming has one of the world's most complete suites of mobile esports teams, and the combined entity will own and operate a broad scope of support businesses in event and entertainment production.

With the completion of the merger, both entities are now combined under the NIP Group umbrella. Mario Ho steps into the position as Chairman of the Group, and as co-CEO along with Hicham Chahine. Ho will also continue as CEO of ESV5, and Chahine as CEO of NIP.

Furthermore, this means the long-awaited arrival of the Ninjas in Pyjamas brand to the League of Legends Pro League is realized — the Group is thrilled to confirm that the former Victory Five squad will finally play as Ninjas from 2023 onward. Fans will be happy to learn that the roster will be managed by the same team that brought stellar results for Victory Five in 2022.

One of the world's most legendary esports clubs, Ninjas in Pyjamas was founded in June 2000 and now fields teams in CS:GO, League of Legends, Rainbow Six: Siege, VALORANT and FIFA. With north of 5 million followers, NIP is one of the most well-known and successful teams in the history of esports and, most notably, Counter-Strike ("CS"). Its legacy has earned the brand wide recognition in China along with a nickname: the “Faith Team”.

ESV5 is a comprehensive digital sports group with esports clubs as its core business and a diversified portfolio including esports events and esports talent development. Most prominently, it runs two renowned esports teams: eStar Gaming and Victory Five, and is the first and only Chinese esports company with two home courts (the eStarPro home in Wuhan and NIP home in Shenzhen), with more than 30 million followers on social media platforms.

Beyond esports team management, the group owns and operates several well-known content production brands, including MAG Studio, a leading events production company and eStar Entertainment, a leading esports talent agency in China. Group agency and creative studio, Shinobi, offers content production and esports team management services to sports clubs looking to enter the space. NIP Group strives to build an esports ecosystem that covers both the online and offline worlds.

"ESV5 and NIP have been in contact and discussions since 2020, and we are delighted about the union", Mario Ho said, "NIP has been an esports brand for over 20 years with very high-quality brand assets which helps us in our commitment to become a more popular and valuable global digital sports group. Both parties will fully realize the complementary advantages and resource sharing and fully open the international layout of NIP Group."

Hicham Chahine said, "We’re incredibly excited to finally complete our merger establishing NIP Group. Our complementary strengths will help us reach a much wider esports and gaming audience on an unrivaled global scale. It all starts today, in the LPL and beyond". Hicham continues “I think we can now officially say that we are truly the first global esports organization.”

Press questions and further information contact:

NIP Group: pr@nipgroup.gg

ESV5: pr@esv5.com

Ninjas in Pyjamas: press@nip.gl

Investor relations：ir@nipgroup.gg

NINJAS IN PYJAMAS

Ninjas in Pyjamas (NIP) is a pioneering esports club founded in 2000, with its headquarters located in Stockholm, Sweden. With a focus on esports, NIP has established itself as a globally influential and respected organization in the industry.

Our brand philosophy is "Expect the Unexpected"; it reflects the team’s competitive spirit and determination to overcome challenges and strive for excellence. In January 2023, NIP fully merged with ESV5, a comprehensive digital sports group in China, to form the combined entity known as NIP Group.

About ESV5

ESV5 is a comprehensive digital sports group with esports clubs as its core business and a diversified portfolio including esports events and esports talent development. ESV5 owns two renowned esports teams, eStar Gaming and Victory Five, and is the first and only Chinese esports company with two home courts (the eStarPro home in Wuhan and NIP home in Shenzhen), and operates several well-known brands, including MAG Studio, a leading events production company and eStar Entertainment, a leading esports talent agency in China. It strives to build an esports ecosystem that covers both online and offline scenarios. In January 2023, ESV5 announced the merger with Ninjas in Pyjamas (NIP), one of the world's most legendary esports clubs in Sweden to form the new entity known as NIP Group.