Circular – Boom Battle Bar Acquisition

THIS DOCUMENT IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION. If you are in any doubt about the contents of this document, you should immediately consult your stockbroker, bank manager, solicitor, accountant or other independent financial adviser authorised under the Financial Services and Markets Act 2000 (as amended) ("FSMA") if you are resident in the United Kingdom or, if not, from another appropriately authorised financial adviser, in each case who specialises in advising on the acquisition of shares and other securities. An investment in the Company involves a significant degree of risk and may not be suitable for all recipients of this document. Investors should consider carefully the Risk Factors which are set out in Part 2 of this document. If you have sold or transferred all your ordinary shares in the Company, you should send this document, together with the accompanying form of proxy, to the purchaser or transferee or to the stockbroker, bank or other agent through whom the sale was affected, for transmission to the purchaser or transferee. If you have sold or transferred only part of your holding of Ordinary Shares you should retain these documents.

If you sell or transfer or have sold or otherwise transferred all of your Ordinary Shares on or before the date the shares were marked "ex" the entitlement to the Open Offer, please send this document and accompanying Form of Proxy and Application Form as soon as possible to the purchaser or transferee or to the bank, stockbroker or other agent through or to whom you have sold or transferred your shares for delivery to the purchaser or transferee. Such documents should, however, not be forwarded to or transmitted into any jurisdiction outside of the UK. Any failure to comply with such restriction may constitute a violation of the securities laws of any such jurisdiction. If you have sold only part of your holding of Ordinary Shares on or before the date the shares were marked "ex" the entitlement to the Open Offer, please contact immediately your stockbroker, bank or other agent through whom the sale or transfer was effected.

The maximum amount to be raised under the Open Offer will be less than €8 million (or an equivalent amount in pounds sterling). In addition, the offer of transferable securities under the Placing is only being made to qualified investors (as defined under the Prospectus Regulation). Therefore, in accordance with section 86(1)(aa) and (e) of FSMA, neither the Placing nor the Open Offer requires the issue of a prospectus for the purposes of the Prospectus Regulation Rules. Neither the Placing nor the Open Offer constitutes an offer to the public requiring an approved prospectus under section 85 of FSMA and accordingly this document does not constitute a prospectus for the purposes of the Prospectus Regulation and has not been approved by the FCA, the London Stock Exchange, any securities commission or any other authority or regulatory body nor has it been approved for the purposes of section 21 of FSMA (and is not required to be so approved under paragraph 43 of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended)). Applications in respect of the Open Offer from persons not falling within such exemption will be rejected and the Open Offer contained in this document is not capable of acceptance by such persons. In addition, this document does not constitute an admission document drawn up in accordance with the AIM Rules.

The Directors, whose names and functions are set out on page 9 of this document, and the Company, accept responsibility, both individually and collectively, for the information contained in this document. To the best of the knowledge and belief of the Directors and the Company (each of whom has taken all reasonable care to ensure that such is the case), the information contained in this document for which they are responsible is in accordance with the facts and does not omit anything likely to affect the import of such information.

The Existing Ordinary Shares are admitted to trading on AIM, the market operated by the London Stock Exchange. Application will be made to the London Stock Exchange for admission of the New Ordinary Shares to trading on AIM. It is expected that Admission will become effective and that dealings in the New Ordinary Shares will commence on AIM at 8.00 a.m. on 23 November 2021.

AIM is a market designed primarily for emerging or smaller companies to which a higher investment risk tends to be attached than to larger or more established companies. AIM securities are not admitted to the Official List of the United Kingdom Listing Authority. A prospective investor should be aware of the risks of investing in such companies and should make the decision to invest only after careful consideration and, if appropriate, consultation with an independent financial adviser.

ESCAPE HUNT PLC

(Incorporated in England and Wales under the Companies Act 2006-No. 10184316)

PROPOSED ACQUISITION OF BOOM BATTLE BARS,

PLACING OF 49,250,000 PLACING SHARES AT 30 PENCE PER SHARE,

SUBSCRIPTION OF 750,000 SUBSCRIPTION SHARES AT 30 PENCE PER SHARE, OPEN OFFER OF 7,385,007 OPEN OFFER SHARES AT 30 PENCE PER SHARE, CHANGE OF NAME TO XP FACTORY PLC,

AMENDMENTS TO THE ARTICLES OF ASSOCIATION

AND

NOTICE OF GENERAL MEETING

Nominated Adviser and Broker

This document should be read as a whole and in conjunction with the accompanying Form of Proxy and Application Form. Your attention is drawn, in particular, to the letter from the Chairman of Escape Hunt Plc set out in Part 1 of this document, which provides details of the Proposals and recommends that you vote in favour of the Resolutions to be proposed at the General Meeting referred to below, and to the Risk Factors in Part 2 of this document which contains a discussion of certain factors that should be considered by Shareholders when considering whether or not to make an investment in the Company. Part 3 of this document contains details of the Open Offer.

When issued, the New Ordinary Shares being issued pursuant to the Proposals will rank pari passu in all respects with the Existing Ordinary Shares and will rank in full for all dividends or other distributions hereafter declared, made or paid on the ordinary share capital of the Company.

Set out at the end of this document is a Notice of General Meeting of the Company. We are keen to welcome Shareholders in person to the General Meeting, particularly given the constraints we have all faced throughout 2020 and 2021 due to the Covid-19 pandemic. We therefore propose for the General Meeting to be held at the offices of Shore Capital at Cassini House, 57 St James's Street, London SW1 1LD at 10.00 a.m. on 22 November 2021. A Form of Proxy for use at the General Meeting is enclosed. To be valid, Forms of Proxy should be completed and signed in accordance with the instructions printed thereon and returned as soon as possible and, in any event, so as to be received by the Company's registrars, Equiniti Limited, by not later than

10.00 a.m. on 18 November 2021. Pursuant to Regulation 41 of the Uncertified Securities Regulations 2001, the time by which a Shareholder must be entered in the register of members in order to have the right to attend and vote at the meeting is 6.30 p.m. on 18 November 2021.

The Company continues to monitor developments relating to the outbreak of Covid-19, including the related public health guidance and legislation issued by the UK Government. At present, companies can hold physical General Meetings. It is therefore expected that a physical General Meeting will be held and it is the intention to welcome the maximum number of Shareholders we are able to within safety constraints and in accordance with currently applicable Government guidelines. Currently, there are no legal restrictions on gatherings (including General Meetings) in England. On 14 July 2021, the Health Protection (Coronavirus, Restrictions) (Steps etc) (England) (Revocation and Amendment) Regulations 2021 (SI 2021/848) ("Revocation and Amendment Regulations") were made, which came into effect at 11.55 p.m. on 18 July 2021. The effect of the Revocation and Amendments Regulations were that they revoked previous regulations that imposed lockdown restrictions and face covering requirements in England. They also had the effect of removing restrictions on all social contacts and gatherings in England, which includes General Meetings.

Attendance at the meeting

Rules around capacity at the venue and changes in health and safety requirements may mean Shareholders cannot ultimately attend the meeting, although at the time of writing there are no legal restrictions on gatherings (including General Meetings) in England.

Despite these developments, we nonetheless sympathise that Shareholders may not feel comfortable attending the physical General Meeting that is being proposed. Therefore, whilst we encourage you to attend the physical meeting if you are able and willing to do so, we have enclosed a Form of Proxy for use at the General Meeting which appoints the Chair of the meeting as your proxy if you would prefer not to attend. Please see above for details on how to validly complete the Form of Proxy.

Given the constantly evolving nature of the situation, we want to ensure that we are able to adapt these arrangements efficiently to respond to changes in circumstances. On this basis, should the situation change such that we consider that it is no longer possible for Shareholders to attend the meeting, we will adopt contingency plans and notify Shareholders of the change via an announcement through a Regulatory Information Service as early as is possible before the date of the meeting. Any updates to the position will also be included on our website at www.escapehunt.com/investors/. Should we have to change the arrangements in this way, it is likely that we will not be in a position to accommodate Shareholders beyond the minimum required to hold a quorate meeting which will be achieved through the attendance of employee shareholders.

If tighter restrictions are introduced by the UK Government due to a change in the situation with the COVID-19 pandemic resulting in Shareholders no longer being able to attend the physical meeting

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or resulting in uncertainty as to whether Shareholders can attend in person, in such circumstances we would encourage all Shareholders to complete and return the accompanying Form of Proxy appointing the Chair of the meeting as their proxy. This will ensure that your vote will be counted if ultimately you (or any other proxy you might otherwise appoint) are not able to attend the meeting. Please note the deadline for the receipt of proxy forms by our registrar, Equiniti Limited, is

10.00 a.m. on 18 November 2021. Proxy appointments should be submitted in accordance with the Notes to the General Meeting Notice at the end of this document.

Qualifying non-CREST Shareholders will find an Application Form enclosed with this document. Applications under the Open Offer may only be made by the Qualifying Shareholders originally entitled or by a person entitled by virtue of a bona fide market claim arising out of the sale or transfer of Ordinary Shares prior to the date on which the relevant Ordinary Shares are marked "ex" the entitlement by the London Stock Exchange. Holdings of Ordinary Shares in certificated and uncertificated form will be treated as separate holdings for the purposes of calculating entitlements under the Open Offer. The latest time and date for application and payment in full under the Open Offer is 11.00 a.m. on 19 November 2021 and the procedure for application and payment is set out in Part 3 of this document.

Shore Capital and Corporate Limited ("Shore Capital and Corporate") is authorised and regulated in the United Kingdom by the FCA and is advising the Company and no one else in connection with the Proposals (whether or not a recipient of this document), and is acting exclusively for the Company as nominated adviser for the purpose of the AIM Rules for Companies. Shore Capital will not be responsible to any person other than the Company for providing the protections afforded to its customers, nor for providing advice in relation to the Proposals and Admission or the contents of this document.

Shore Capital Stockbrokers Limited ("Shore Capital Stockbrokers", and/or Shore Capital and Corporate as appropriate "Shore Capital") is authorised and regulated in the United Kingdom by the FCA and is advising the Company and no one else in connection with the Proposals (whether or not a recipient of this document), and is acting exclusively for the Company as broker for the purpose of the AIM Rules for Companies. Shore Capital Stockbrokers will not be responsible to any person other than the Company for providing the protections afforded to its customers, nor for providing advice in relation to the Proposals and Admission or the contents of this document.

Without limiting the statutory rights of any person to whom this document is issued, no representation or warranty, express or implied, is made by Shore Capital as to the contents of this document. No liability whatsoever is accepted by Shore Capital for the accuracy of any information or opinions contained in this document, for which the Directors are solely responsible, or for the omission of any information from this document for which they are not responsible.

This document does not constitute an offer to buy or to subscribe for, or the solicitation of an offer to buy or subscribe for, Ordinary Shares in any jurisdiction in which such offer or solicitation is unlawful. In particular, the Ordinary Shares offered by this document have not been, and will not be, registered under the United States Securities Act of 1933 as amended (the "Securities Act") or qualified for sale under the laws of any state of the United States or under the applicable laws of any of Canada, Australia, South Africa, New Zealand or Japan and, subject to certain exceptions, may not be offered or sold in the United States or to, or for the account or benefit of, US persons (as such term is defined in Regulation S under the Securities Act) ("US Person") or to any national, resident or citizen of Canada, Australia, South Africa, New Zealand or Japan. Neither this document nor any copy of it may be sent to or taken into the United States, Canada, Australia, New Zealand or Japan, nor may it be distributed directly or indirectly to any US Person or to any persons with addresses in Canada, Australia, South Africa, New Zealand or Japan (the "Excluded Territories"), or to any corporation, partnership or other entity created or organised under the laws thereof, or in any country outside the United Kingdom where such distribution may lead to a breach of any legal or regulatory requirement.

Copies of this document will be available free of charge to the public during normal business hours on any day (Saturdays, Sundays and public holidays excepted) at the registered office of the Company from the date of this document for the period ending one month after Admission and will also be available on its website, www.escapehunt.com. The information contained in this document has been prepared solely for the purposes of the Proposals and is not intended to inform or be

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relied upon by any subsequent purchasers of Ordinary Shares (whether on or off exchange) and accordingly no duty of care is accepted in relation to any such persons.

NOTICE TO OVERSEAS SHAREHOLDERS

The New Ordinary Shares have not been and will not be registered or qualified under the relevant laws of any state, province or territory of the Excluded Territories and may not be offered or sold, resold, taken up, transferred, delivered or distributed, directly or indirectly, into or within any of the Excluded Territories except pursuant to an applicable exemption from such Excluded Territory's registration or qualification requirements.

Subject to certain exceptions in compliance with the Securities Act and the rules promulgated thereunder or any applicable laws in the Excluded Territories, this document will not be published, released, or distributed, directly or indirectly; and must not be sent, in whole or in part: (i) in or into any Excluded Territory; (ii) to any person within the United States; or (iii) to any person in any jurisdiction where to do so might constitute a violation of local securities laws or regulation.

The New Ordinary Shares have not been and will not be registered under the Securities Act or under any securities laws of any state or other jurisdiction of the United States. The New Ordinary Shares may not be offered, sold, taken up, exercised, resold, transferred or delivered, directly or indirectly to or within the United States or to any US Person, except pursuant to an applicable exemption from, or a transaction not subject to, the registration requirements of the US Securities Act and in compliance with any applicable securities laws of any state or other jurisdiction of the United States. There will be no public offer in the United States.

The New Ordinary Shares have not been approved or disapproved by the US Securities and Exchange Commission (the SEC), any state securities commission in the United States or any other US regulatory authority, nor have any of the foregoing authorities passed upon or endorsed the merits of the offering of the New Ordinary Shares or the accuracy or adequacy of this document. Any representation to the contrary is a criminal offence in the United States.

No action has been taken by the Company or Shore Capital that would permit an offer of the New Ordinary Shares or possession or distribution of this document or any other offering or publicity material in any jurisdiction where action for that purpose is required, other than the United Kingdom. Neither of the Company, Shore Capital or any of their respective affiliates, directors, officers, employees or advisers is making any representation to any offeree, purchaser or acquirer of New Ordinary Shares regarding the legality of an investment in the New Ordinary Shares by such offeree, purchaser or acquirer under the laws applicable to such offeree, purchaser or acquirer. This document does not constitute an offer to sell the New Ordinary Shares to any person in any jurisdiction. The Company reserves the right, in its sole and absolute discretion, to reject any subscription or purchase of the New Ordinary Shares that the Company or its representatives believe may give rise to a breach or violation of any law, rule or regulation.

FORWARD LOOKING STATEMENTS

Certain statements contained herein constitute forward-looking statements. The forward-looking statements contained herein include statements about the expected effects of Admission, the expected timing of Admission and other statements other than in relation to historical facts. Forward-looking statements including, without limitation, statements typically containing words such as "intends", "anticipates", "targets", "estimates", "believes", "should", "plans", "will", "expects" and similar expressions or statements that are not historical facts are intended to identify those expressions or statements as forward-looking statements. The statements are based on the current expectations of Escape Hunt and are subject to uncertainty and changes in circumstances. By their nature, forward-looking statements involve risk and uncertainty and the factors described in the context of such forward-looking statements in this document could cause actual results and developments to differ materially from those expressed in or implied by such forward-looking statements. There are also a number of other factors that could cause actual results or developments to differ materially from those expressed or implied by such forward-looking statements. These factors include, but are not limited to, local and global political and economic conditions, interest rate fluctuations (including those from any potential credit rating decline) and legal or regulatory developments and changes. Given these risks and uncertainties, investors should not place undue reliance on forward-looking statements.

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Neither of Escape Hunt, Shore Capital nor any of their respective associates or directors, officers or advisers, provides any representation, assurance or guarantee that the occurrence of the events expressed or implied by any forward-looking statements contained herein will actually occur. Other than in accordance with their legal or regulatory obligations (including under the AIM Rules and the Disclosure Guidance and Transparency Rules of the Financial Conduct Authority), neither of Escape Hunt or Shore Capital is under any obligation, and each of them expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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