Earnings release
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7 October 2026 ACCELER8 VENTURES PLC Trading Update Significant progress for Hui10 Acceler8 Ventures Plc (LSE: AC8, "AC8" or the "Company" and, together with its subsidiaries, the "Group") is pleased toprovide the first trading update for its principal operating business Hui10 Inc. ("Hui10") following completion of theIntuitive Investments Group plc ("IIG") transaction in August 2026. Since August 2026, Hui10 has progressed the rollout of Sports Lottery+, enhanced its lottery shop onboarding technologyand expanded its commercial relationship with China Mobile. The focus of the Group remains on growing the connectednetwork, increasing lottery transaction activity and expanding customer reach and engagement as illustrated by the year-on-year progress in KPI performance. In particular, the growth in the level of lottery transaction value, as a result ofincreasing active lottery shop rates through Lucky World, provides positive feedback on the popularity of the platform withboth lottery shopkeepers and customers. Hui10 Key Performance Indicators Sept 2025 Sept 2026 Inc / Dec Connected Lucky World lottery shops (at period end) 3,621 13,651 +277% UGO UnionPay POS terminals (at period end) 633 754 +19% Total registered users (at period end) 0.8m 1.7m +113% Lottery transaction value through Lucky World (RMB; nine months toSeptember) 0.1bn 2.1bn +2,000% Lucky World merchandise revenue (RMB; nine months to September) 0.4m 2.1m +425% Strategic and operational progress Sports Lottery+ rollout. Following its successful deployment in Hohhot, Inner Mongolia, Hui10 has commenced the widerrollout of Sports Lottery+ from September 2026. This platform integrates authorised lottery retail with payment, loyalty,commerce and digital engagement services, with the rollout plan extending to additional provinces over the following sixmonths. Faster lottery-shop onboarding. The upgraded Lucky World merchant application and shop management system simplifiesretailer registration and activation. An updated QR-code and voice-notification speaker configuration also reducesconnection costs while preserving payment, reporting, loyalty and customer-engagement functions. Early resultsannounced in September indicated increased shop connection rates, reaching 90 per day with connection ratesaccelerating. China Mobile Jiangxi implementation milestone. In September Hui10 announced an expanded commercial relationshipwith China Mobile and the approval from Jiangxi Sports Lottery to launch our Sports Lottery+ offering within China Mobilebusiness halls and shops in Jiangxi Province. This is a significant milestone development for Hui10 which combines Sports Lottery retail within China Mobile Jiangxi’slocations utilising Hui10’s retail and digital platform. China Mobile serves over 1 billion mobile customers nationwide,including more than 30 million through China Mobile Jiangxi highlighting the potential scale of this customer acquisitionchannel. Hui10’s objective is to convert China Mobile’s customer reach into physical lottery sales, registered and active Lucky Worldusers, digital participation, repeat engagement and additional eligible commerce, combining trusted physical access with acontinuing digital relationship. The common architecture will also be able to accommodate further approved products andservices, including paperless play. This model supports Hui10’s strategy to increase participation among eligible consumers by making authorised SportsLottery+ access more visible and convenient. Customers can be introduced through China Mobile, transact at anauthorised location and remain engaged through Hui10’s digital services. Financial performance Hui10 has continued to grow its revenues during 2026, with Lucky World representing the principal source of materialrevenue to date. For the nine months to 30 September 2026, Hui10 generated revenue of RMB 2.1 million, compared withRMB 0.4 million in the corresponding period in 2025. This reflects the continued expansion of the connected lottery shopnetwork and increasing activity across the platform. Other revenue streams, including those associated with SportsLottery+ and the wider platform, remain at an earlier stage of development but are expected to increasingly contribute asthe rollout progresses. The Board expects the continued expansion of the connected-shop network and further rollout ofSports Lottery+ to support revenue growth over the remainder of the year and into 2027. In September 2026, funds managed by Feoh Investments UK LLP (“Feoh”), a UK-based investment manager, subscribed for£5 million for new shares. The Feoh investment broadens the shareholder register with a supportive institutional investorand provides additional financial flexibility to accelerate selected growth initiatives. Under the subscription agreement,Feoh may elect to invest up to a further £30 million in two additional tranches. As at the end of September 2026 theGroup continues to have strong cash reserves and does not anticipate further new equity funding in the future beyondexisting arrangements. Outlook The Group’s immediate priorities are to extend its connected retailer network, increase activation and usage across thatnetwork, and develop additional authorised distribution opportunities. These priorities underpin its plans for growth in
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transaction activity and revenue. By the end of December 2026 the Group aims to have over 20,000 Lucky World shopsconnected, over 1,000 UGO terminals and over 2 million registered users. The Group’s current outlook assumes a significant acceleration in commercial activity during 2027, driven by continuednetwork expansion, increasing customer conversion and the development of additional revenue streams. The Company istargeting a further 50,000 Lucky World shop connections and an additional 20,000 UGO terminals by the end of 2027. The rollout of Sports Lottery+ is continuing across additional provinces and distribution channels, including the recentlyannounced China Mobile initiative in Jiangxi. The Board expects these developments to broaden Hui10’s customer reachand provide further opportunities to monetise its technology and operating platform. These opportunities areindependent of the strategic potential from paperless play. The timing and scale of paperless lottery services depends onregulatory developments and approvals which are currently being progressed, and the Company will update shareholdersin due course. Daniel Levine, Chief Executive Officer of AC8, said: “Since joining the Main Market in August, we have moved quickly from transaction to execution. Hui10 has expanded theconnected Lucky World network, accelerated retailer onboarding and commenced the wider rollout of Sports Lottery+.The significant year-on-year growth in connected shops, registered users and lottery transaction value demonstrates theincreasing reach and use of the platform, and its exponential growth potential. “Jiangxi Sports Lottery’s approval of the China Mobile Jiangxi implementation is an important milestone. China MobileJiangxi will market and promote Sports Lottery+, while Hui10, through Lucky World, will operate the authorised physicalunits and connected digital platform. This places Hui10 at the centre of a repeatable distribution model to reach materialnumbers of new customers and convert these to active users.” Enquiries Acceler8 Ventures Plc Daniel Levine Giles Willits C/o FTI Consulting Joh. Berenberg, Gossler & Co. KG, London Branch Matthew Armitt Miles Cox Mark Whitmore Alex Wright +44 (0)20 3207 7800 FTI Consulting John Waples Valerija Cymbal Jemima Gurney +44 (0)20 3727 1000 AC8@fticonsulting.com About Acceler8 Ventures Plc AC8 is a Main Market publicly listed company focused on driving shareholder value through creating and developingtechnology-enabled business opportunities. About Hui10 Inc. Hui10 is a Beijing-headquartered technology group that has spent more than a decade developing digital infrastructureconnecting consumers and merchants within China’s regulated lottery ecosystem. Its capabilities include national paymentintegration, retailer and customer engagement, transaction traceability, AI-enabled tools and Big Data. Hui10 aims toexpand consumer access and its Lucky World platform across the existing lottery-shop network and additional authoriseddistribution channels.
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