Golden Matrix Group, Inc.

Authorization of Stock Repurchase Program

LAS VEGAS, NV - (NewMediaWire) – December 16, 2025 - Golden Matrix Group Inc. (NASDAQ:GMGI)(“Golden Matrix”, “GMGI” or the “Company”), an international developer, licensor and global operator of online gaming and eCommerce platforms, systems and gaming content, today announced that its Board of Directors has authorized the repurchase of up to a maximum of $3.0 million of shares of the Company’s common stock. Subject to any future extension in the discretion of the Board of Directors of the Company, the repurchase program is scheduled to expire on December 15, 2026, when a maximum of $3.0 million of the Company’s common stock has been repurchased, or when such program is discontinued by the Board of Directors.

"We believe our shares are trading at a significant discount to the Company’s intrinsic value, and this repurchase program represents a disciplined and highly attractive use of capital. By reducing market overhang, addressing short interest, and repurchasing shares at current price levels, we are confident this initiative will enhance long‑term shareholder returns. Importantly, it also provides a more tax‑efficient method of returning capital compared to dividends, while driving earnings‑per‑share accretion that underscores our conviction in the Company’s future performance," said Rich Christensen, Chief Financial Officer of the Company.

Under the stock repurchase program, shares may be repurchased from time to time in the open market or through negotiated transactions at prevailing market rates, or by other means in accordance with federal securities laws. Repurchases will be made at management’s discretion at prices management considers to be attractive and in the best interests of both the Company and its stockholders, subject to the availability of shares, general market conditions, the trading price of the common stock, alternative uses for capital, and the Company’s financial performance. Open market purchases are expected to be conducted in accordance with the limitations set forth in Rule 10b-18 of the Securities Exchange Act of 1934 (the “Exchange Act”) and other applicable laws and regulations. Repurchases may also be made under a Rule 10b5-1 plan, which would permit shares to be repurchased when the Company might otherwise be precluded from doing so under insider trading laws.

The repurchase program may be suspended, terminated or modified at any time for any reason, including market conditions, the cost of repurchasing shares, the availability of alternative investment opportunities, liquidity, and other factors deemed appropriate. These factors may also affect the timing and amount of share repurchases. The repurchase program does not obligate the Company to purchase any number of shares. There is no guarantee as to the exact number or value of shares that will be repurchased by the Company, if any.

The repurchase program is expected to be funded using the Company’s working capital. As of September 30, 2025, the Company had 140,660,454 shares of common stock issued and outstanding.

All shares purchased by the Company under the stock repurchase program will be retired and returned to treasury.