Contract Win and Trading Update

Mirriad, a leading provider of virtual product placement ("VPP"), announces that it has entered into a services agreement (the "Agreement") with MBC Media Solutions FZ-LLC ("MBC") and provides an update on trading for the first half of 2025 ("H1 2025").

MBC services agreement

The Company is pleased to announce that it has entered into the Agreement with MBC for Mirriad to provide its virtual placement solution to MBC and its associates. MBC is one of the Middle East's leading advertising sales houses and the advertising division of MBC Group, the largest private free-to-air satellite broadcasting company in the Middle East and North Africa.

Under the Agreement, Mirriad will provide in-video advertising services to MBC to enable non-intrusive advertising solutions that seamlessly integrate brands into MBC Group's subscription video on demand ("SVOD") and linear content. It will enable brands to build scalable campaigns across suites of available MBC Group shows and the ability to plan campaigns across a variety of MBC's different distribution verticals.

The Agreement is for an initial two-year term and contains minimum purchase commitments on behalf of MBC, subject to certain conditions, of 4,000 seconds of brand integrated content per year - which would result in c. USD 370,000 of revenue per year of the contract for Mirriad. Mirriad will act as MBC's exclusive provider of VPP solutions during the initial term of the Agreement.

The Agreement represents a return to the successful collaboration between MBC and Mirriad which has demonstrated the revenue potential for Mirriad's offering in the Middle East market. Mirriad's VPP solution drives superior brand awareness, purchase intent, and ROI (return on investment) for advertisers while enhancing the viewer experience. With this continued collaboration, Mirriad and MBC are providing the ability for brands to plan virtual integrations with scale through Mirriad's qualitative solution.

Trading update

Revenue for Mirriad in H1 2025 was approximately £0.2m, split broadly equally between the US and EMEA. Cash at 30 June 2025 was £2.4m. The Company's run rate costs have been successfully reduced and are now approximately £220,000 per month, £30,000 per month lower than the target set out at the time of the Company's fundraise in May 2025.

Louis Wakefield, CEO of Mirriad, said: "Together with MBC, we've previously built out a compelling model for brands to scale virtual placement campaigns and planning in the Middle East, and it's great to renew and now formalize our partnership with a fresh sense of possibility with new offers in the region.

"This partnership ensures that advertisers can continue to benefit from the in-content format across a broad slate of MBC's premium and popular programming, and our combined product offering with MBC will create greater opportunities for brands to connect with audiences in the moments that matter most. We believe this reinforces the industry's shift toward more integrated and effective advertising formats."