Closure of Berlin Club and Revised Venue Strategy

World Chess Plc (LSE: CHSS), World Chess Plc, the London-listed chess organisation and operator of FIDE Online Arena (chessarena.com), announces the impending closure of its Berlin venue. The Berlin location, which opened in 2023 as a concept space, developed a loyal chess clientele but did not achieve its commercial objectives. Following a detailed operational and strategic review, the Company will close the site at the end of April 2025 and use the findings of the review to establish a revised venue model.

"The original Berlin club became a popular chess hub, but commercially it didn't deliver the results the Company expected. We've learned why - and we're redesigning the format accordingly," said Ilya Merenzon, CEO of World Chess. "This is part of a larger strategy to build a scalable network of chess venues that combine real-world events with our digital infrastructure."

Strategic Context

The revised venue model will support World Chess's broader commercial objectives to:

• Enhance player acquisition and engagement for ChessArena.com
• Provide physical hubs for the World Chess Tour and licensed events
• Enable new sponsorship and brand integration opportunities
• Create a platform for membership-based and recurring revenues

Each location will be designed to operate with significantly lower fixed costs and a clear path to sustainability, based on lessons learned from the original Berlin site.