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NAZARA

| Company Clarification

📰 In response to media reports on the Proposed Promotion & Online Gaming Bill, 2025: ✅ No direct exposure to Real Money Gaming (RMG) businesses. ✅ Revenue & EBITDA contribution from RMG = NIL in Q1. ✅ Indirect exposure only via 46% holding in PokerBaazi. ✅ Invested ₹805 Cr in Moonshine towards equity shares. ⚡

reiterates focus on building a diversified gaming & sports media portfolio, insulated from regulatory risks.