Announcement • Dec 19

Golden Matrix Group, Inc. Announces Board and Committee Changes

Golden Matrix Group, Inc. On December 12, 2025 and effective December 12, 2025, Mr. Thomas E. McChesney, a member of the Board of Directors, Audit Committee, and Nominating and Corporate Governance Committee and the chairman of the Compensation Committee of Golden Matrix Group, Inc., entered into a Director Separation Agreement with the Company pursuant to which Mr. McChesney resigned from all of his Board and committee positions. Mr. McChesney's resignation was not the result of any dispute or disagreement with the Company, any matter related to the Company's operations, policies or practices, the Company's management or the Board. As a result of his resignations, he no longer holds any director or other positions whatsoever with the Company or its subsidiaries. The McChesney Director Separation Agreement includes a customary mutual release and additional customary confidentiality and mutual non-disparagement provisions, subject to customary exclusions. Mr. McChesney agreed to cooperate fully, truthfully, and promptly with the Company in any future legal, regulatory, or administrative proceedings, audits, or investigations related to matters arising during Director's service in the Board Positions. Effective on December 18, 2025, the Board of Directors of the Company, with the recommendation of the Nominating and Governance Committee of the Board of Directors: (a) appointed Mr. Atul Bali as a member of the Board of Directors, as a member of the Audit Committee, as a member of the Nominating and Corporate Governance Committee, and as Chairman of the Compensation Committee of the Board of Directors, with such appointment to take effect immediately; (b) appointed Mr. Murray G. Smith as a member of, and Chairman of, the Nominating and Corporate Governance Committee; and (c) removed Mr. William Scott as a member of the Audit Committee and Nominating and Corporate Governance Committee (as Mr. Scott is no longer independent after his appointment as Interim Chief Executive Officer of the Company on December 12, 2025, as previously disclosed). Atul Bali, age 54, has served as the Chairman of Instant Win Gaming, a UK-based developer of customized digital gaming platforms for global lotteries, since November 2014. He has also been the Chairman of The Football Pools Ltd, a UK-based operator of offline and online gaming, since January 2021. Since November 2019, he has served as a board member of Everi Holdings Inc. and, since March 2017, as a non-executive director and audit committee chair of Rainbow Rare Earths PLC. Additionally, since April 2019, Mr. Bali has served as Chairman of Fincore Ltd, a financial software company that provides certain software and services to Everi as well as a Remote Gaming Server platform provider for multiple competing content providers, since November 2017, Mr. Bali has served as Advisory Board Chairman of Ingenuity Gaming Private Ltd, a service company in the online and land based gaming industry, and since April 2021, Mr. Bali has served as a Strategic Advisory to Football 1x2 Ltd., a provider of iGaming solutions. From May 2016 to August 2021, Mr. Bali was chairman of Meridian Tech Holdings, an online sports betting and gaming group, which the Company acquired in April 2024. From May 2014 to April 2021, Mr. Bali served as deputy chairman/advisor of Gaming Reals PLC (LSE:GMR), a UK-based developer, licensor, and distributor of mobile-focused gaming content. From May 2014 to July 2018, Mr. Bali served as a director and advisor of Metric Gaming, a sports betting software provider. From June 2012 to March 2014, Mr. Bali served as President and CEO of Aristocrat Technologies Inc., a US-based subsidiary of the Australian company, Aristocrat Leisure Limited (ASX: ALL), a gaming and entertainment company. From April 2002 to August 2010, Mr. Bali also held various positions with GTECH Corporation, a US-based lottery and gaming systems and services provider, including as President and CEO of its GTECH G2 division between September 2007 and August 2010. Mr. Bali received a bachelor’s degree in Law and Economics (with honors) from Keele University, Staffordshire, England. The Company believes that Mr. Bali’s extensive experience in the global gaming and iGaming industries, including online gaming platforms, sports betting, and gaming technology, qualifies him to serve as a member of the Board of Directors and that his prior service as a senior executive and board member of multiple gaming operators and suppliers will provide valuable operational, technological, and regulatory insight to the Board of Directors. Notwithstanding Mr. Bali’s appointment as discussed above, the Board of Directors continues to identify and evaluate candidates to fill the remaining independent director vacancy and intends to appoint an additional independent director as soon as a qualified candidate is identified.

Announcement • Dec 19

CEO salary percentage	n/a
CEO tenure	no data
CEO ownership	n/a
Management average tenure	no data
Board average tenure	1.6yrs

Name	Position	Tenure	Compensation	Ownership
William Scott	President	2.3yrs	US$164.10k	0.033% $ 58.2k
Michael Prescott	Director	less than a year	no data	no data
Atul Bali	Independent Director	less than a year	no data	no data
Murray Smith	Independent Director	6yrs	US$194.24k	0.082% $ 145.4k
Snežana Božovic	Director	1.6yrs	no data	no data

Data	Last Updated (UTC time)
Company Analysis	2026/08/04 23:33
End of Day Share Price	2026/08/04 00:00
Earnings	2026/06/30
Annual Earnings	2025/12/31

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

Analyst	Institution
Egor Tolmachev	Freedom Broker
Danial Yermakhan	Freedom Broker
Jack Vander Aarde	Maxim Group

Meridian Holdings Management

Management criteria checks 0/4

Key information

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