The executive will focus on expanding the group’s presence in Brazil’s regulated market, with an emphasis on institutional engagement, new business, and compliance.

Esportes Gaming Brasil, the group composed of Esportes da Sorte and Onabet, announces the appointment of Hugo Baungartner as its new Executive Director of Institutional Relations and Strategic Partnerships (Chief Business Officer – CBO). He joins the company’s leadership team with the mission of strengthening institutional engagement with public authorities, regulatory bodies, and strategic partners, as well as driving the continued expansion of the group in Brazil.

Baungartner will be responsible for liaising with institutions such as the Secretariat of Prizes and Betting (SPA/MF), the Federal Revenue Service, the Central Bank, and COAF, as well as certification bodies and accredited laboratories. His responsibilities also include preparing the company for developments in the regulatory landscape.

“Hugo’s arrival strengthens our ability to act strategically in a constantly evolving sector. He brings an experienced, technical perspective aligned with the principles of governance and innovation that guide our group’s companies,” said Darwin Filho, CEO of Esportes Gaming Brasil.

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“Brazil is going through a crucial moment in regulating the sector, and being at the forefront of this movement with such a relevant group is a challenge that truly motivates me. Our goal is to ensure our operations not only meet legal requirements but also serve as a benchmark for best practices, innovation, and sustainable growth,” said Hugo Baungartner.

With over 28 years of experience in the technology and gaming sectors, Baungartner will also be responsible for developing partnerships with global providers, evaluating merger and acquisition opportunities (M&A), and structuring new projects with full legal and regulatory compliance. He previously held leadership roles at companies such as Grupo Aposta Ganha, RCT Gaming, and Prohards.

Rivalry Corp. (the “Company” or “Rivalry”) (TSXV: RVLY) (OTCQX: RVLCF) (FSE: 9VK), is providing this bi-weekly update on the status of a management cease trade order granted on May 1, 2025 (the “MCTO”) by its principal regulator, the Ontario Securities Commission (the “OSC”), under National Policy 12-203 – Management Cease Trade Orders (“NP 12-203”). On May 2, 2025, the Company announced that there would be a delay in the filing of its annual financial statements, management’s discussion and analysis and related CEO and CFO certificates for the fiscal year ended December 31, 2024 (collectively, the “Annual Filings”), as required under applicable Canadian securities laws (the “Default Announcement”). As stated in the Default Announcement, the Company expects to complete the Annual Filings by June 30, 2025.

The Company advises that: (i) there have been no material changes to the information contained in the Default Announcement; (ii) it intends to continue to comply with the alternative information guidelines of NP 12-203; and (iii) except as previously disclosed, there are no subsequent specified defaults (actual or anticipated) within the meaning of NP 12-203.

The MCTO will remain in effect until the Company is no longer in default with respect to its filing requirements and the OSC lifts the cease trade order.